• Aucun résultat trouvé

« Ceci n’est pas une œuvre » : l’artiste sur Instagram : dans quelle mesure Instagram se fait-il le support d’écriture de l’artiste contemporain dans la construction de sa figure médiatique ?

N/A
N/A
Protected

Academic year: 2021

Partager "« Ceci n’est pas une œuvre » : l’artiste sur Instagram : dans quelle mesure Instagram se fait-il le support d’écriture de l’artiste contemporain dans la construction de sa figure médiatique ?"

Copied!
194
0
0

Texte intégral

(1)

HAL Id: dumas-02462917

https://dumas.ccsd.cnrs.fr/dumas-02462917

Submitted on 31 Jan 2020

HAL is a multi-disciplinary open access

archive for the deposit and dissemination of sci-entific research documents, whether they are pub-lished or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers.

L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés.

Copyright

“ Ceci n’est pas une œuvre ” : l’artiste sur Instagram :

dans quelle mesure Instagram se fait-il le support

d’écriture de l’artiste contemporain dans la construction

de sa figure médiatique ?

Chloé Huie Brickert

To cite this version:

Chloé Huie Brickert. “ Ceci n’est pas une œuvre ” : l’artiste sur Instagram : dans quelle mesure Instagram se fait-il le support d’écriture de l’artiste contemporain dans la construction de sa figure médiatique ?. Sciences de l’information et de la communication. 2017. �dumas-02462917�

(2)

École des hautes études en sciences de l'information et de la communication - Université Paris-Sorbonne 77, rue de Villiers 92200 Neuilly tél. : +33 (0)1 46 43 76 76 fax : +33 (0)1 47 45 66 04 www.celsa.fr

Master professionnel

Mention : Information et communication Spécialité : Médias Communication

Option : Communication et technologie numérique

« Ceci n’est pas une œuvre » : l’artiste sur Instagram

Dans quelle mesure Instagram se fait-il le support d’écriture de

l’artiste contemporain dans la construction de sa figure

médiatique ?

Responsable de la mention information et communication Professeure Karine Berthelot-Guiet

Tuteur universitaire : Pauline Chasseray-Peraldi

Nom, prénom : HUIE BRICKERT Chloé Promotion : 2017

Soutenu le : 21/11/2017

(3)

! ! "!

! !

(4)

! ! #! !

"#$#%&'#$#()*!

! ! c2!%&'0&!6&!3&!%'#@#+-U!f&!%+&,$!g!'&0&'3+&'!0#!%2%'+3&U!G#2-+,&!19#$$&'#KCG&'#-6+U!()2'!$#! (#%+&,3&U! $#! 6+$(),+F+-+%5! &%! $&$! 3),$&+-$! ('53+&2_X! "&$! 95$+%#%+),$! &%! %h%),,&0&,%$! ,>#2'#+&,%!f#0#+$!(2!('&,6'&!*)'0&!$#,$!$#!6+'&3%+),!#@+$5&X!i&!'&0&'3+&!0),!'#(()'%&2'! (')*&$$+),,&-! j#,,+3M! V&',&%! 6>#@)+'! (2! 53-#+'&'! 0),! 050)+'&! 6&! $),! '&:#'6!

!"#$%&%'()#$*+,-".U! &%! 6&! $>k%'&! 0),%'5! 6+$(),+F-&! 0#-:'5! $&$! #3%+@+%5$X! "&'3+! #2$$+! g!

l'#,m)+$&! c'0#,6U! '&$(),$#F-&! 62! 0#$%&'! 1&-$#C"+,&$U! &%! g! %)2$! ,)$! &,$&+:,#,%$! C! $+! 3&%%&! #,,5&! #! 5%5! #2$$+! '+39&! &,! &,$&+:,&0&,%$! <2>&,! 50)%+),$U! &--&! #! $2'%)2%! 5%5! +,3')K#F-&0&,%!0)%+@#,%&!&%!$%+02-#,%&X!

!

"&'3+! &,*+,! g! 0&$! #0+$! ()2'! -&2'! $)2%+&,! .! +-! #! 5%5! ('53+&2_X! "&'3+! #2_! F+F-+)%9d<2&$! 6&! 0>#@)+'! )**&'%! 2,! 3#6'&! (')(+3&! g! ->5%26&! 0#-:'5! -&! $K,6')0&! 6&! -#! (#:&! F-#,39&! C! &%! g! E)0#,&U!6>K!#@)+'!&''5!g!0&$!3n%5$X! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !

(5)

! ! $! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !

!

!

!

(6)

! ! %!

+,$$-'%#!

! ! E&0&'3+&0&,%$ooooooooooooooooooooooooooooXXoooX(Z! /,%')623%+),oooooooooooooooooooooooooooXXoooooo(W! !

.-%)'#!/!.!p#!'&3'5#%+),!6&!->53)$K$%d0&!6&!->#'%!@+#!2,&!+0#:&'+&!62!'k@&!&%!2,&!

(')0&$$&!6&!<2)%+6+&,!&_%'#)'6+,#+'&

ooooooooooooooooooooXX(PQ! !

P\! q2#,6!-&!0),6&![*&'05\!6&!->#'%!'&,3),%'&!-#!@+%'+,&!/,$%#:'#0oooooX

(Pr

!

#\! /0)(&1"2-"!"3%45-"50)6-(&*7"."+,*"7-"5*'*&)8*7-ooooooooooooooX(PW! F\! 947&)'()31"5-"8)":)4)8*&;"5,"+,%&*5*-4"),"!"30)7<&,<6,"."5-"8)"=-&"7-&oooXXX(N^! ! N\!

p#!()-K(9),+&!5,),3+#%+@&!6&$!#3%&2'$!6&!->#'%!$2'!/,$%#:'#0!.!5,),3&'!()2'!

0+&2_!'&3'5&'!->&,%'&C$)+

oooooooooooooooooooooXooXX(ZP! #\! >,&%,("5-"80)(&*7&-1"5-7"(?8-7":*-4"5;@*4*7"+,*"7-"2(%*7-4&"A"2%,#7"5-"&)'7"-&"5-" $)7$&)'7ooooooooooooXXXXooooooooooooooooXX(ZN! F\! /-7" 2%3#&-7" 2%33-" ;4%42;7" ;5*&%(*),B" #(%#(-7" )," 3%45-" 5-" 80)(&ooooooXXXXoooooooooooXXXXooooooooooooo(ZQ! ! Z\!

p&!()2@)+'!6&!->+0#:&!()2'!->#'%!&%!()2'!*#+'&!'k@&'![f&%!$&%U!35-5F'+%5$\o

oX(]N! #\! C0,4"3%45-"50*3)'-7DDD!ooooooooooooooooooooooo(]N! F\! E"A"80)(&"5-"80*3)'-oooooooooooooooooooooooooX(]^! ! !

.-%)'#!0!.!4+,:2-#'+%5$!6&!->#'%+$%&!3),%&0()'#+,!$2'!/,$%#:'#0U!&,%'&!0),$%'#%+),!6&!

$)+!&%!$2(()'%!6>2,&!('#%+<2&!#'%+$%+<2&

oooooooooooooooooooo(`P! !

P\!

p>+0#:+,#+'&! 6&! ->#'%+$%&! &%! -#! (')0&$$&! 6&! ->+,%+0&! @$X! ->#'%+$%&C0#'<2&! &%! -#!

(')0&$$&!62!!"7-8@<:()45*4'"

.!ooooooooooooooooXooooX(`P!

#\! /0)(&*7&-1"@*',(-"2%4&(%6-(7;-"50,4")(&"#%8;3*+,-"-&";2%4%3*+,-ooooXXoX(`N! F\! C-" 80)88;'%(*-" ;2%4%3*+,-" A" 80)88;'%(*-" 3)(F-&*4'"G" 5," :()45*4'" )," 7&%(H&-88*4'1"

5-"80)(&*7&-"A"8)"3)(+,-ooooooooooooooooooooXXXooo(`^!

!

N\!

4+,:2-#'+%5$!

6&$!

5,),35$!

#2!

$&+,!

6>2,&!

53'+%2'&!

+,62$%'+#-+$5&

ooooooooooooooooooooooooooooo(^O!

#\! /0)(2$*&-B&-" 50947&)'()3" @8*(&-" )6-2" 8)" ')8-(*-<-B#%7*&*%4" -&" 6)8%(*7-" 8-" #%*4&" 5-"

(7)

! ! &!

F\! C-" 8)" #8)7&*2*&;" 5-7" )(2$*&-B&-7" A" 8)" #8)7&*2*&;" 5-7" %-,6(-7" G" ,4-" #,*77)42-"

2%4&-7&)&)*(-"+,*"6*-4&"(-4@%(2-("8)"7*4',8)(*&;")(&*7&-"oooooooooo(^`!

!

Z\!

b,%'&! #'%+*+3#%+),! &%! +,%+0+%5C&_%+0+%5U! ->#'%+$%&! 6&@+&,%! ->#2%&2'! 6>2,! 3)0(%&!

9KF'+6&

oooooooooooooooooooooooooooooXXooX(^W! #\! C-"8)"!"2,8&,(-"#%#"."A",4-"2,8&,(-"4,3;(*+,-oooooooooXoXooo(^W! F\! I4-"*4&*3*&;<-B&*3*&;"+,*"7-"3,-"-4"=-,ooooooooooooXXXXXoooX(QN! ! !

.-%)'#!1!.!/,$%#:'#0!&%!-#!!"&H()44*-"5-"8)"6*7*:*8*&;".!C!2,&!056+#%+$#%+),!g!%)2%!('+_!

#2!65%'+0&,%!6>2,&!)2@&'%2'&!6&!->#'%!D

!oooooooooooooooooooXXX(QQ! ! P\!

B2!'5&-!#2!@+'%2&-U!-#!%K'#,,+&!6&!-#!@+$+F+-+%5

oooXoooooooooooXX(QQ! #\! J-"@)*(-",4"4%3ooooooooooooooooooooooooXXooX(Qr! F\! !"J,*7<3%*" -&" =-" &-" 7,*7"." G" 8-" !"8*F-"." -&" 8-" !"@%88%K"." 2%33-" 8;'*&*3)&*%4" L! ooooooooooooooooooooooooooooooXoooXX(rZ! !

N\!

!p&$! +0#:+,#+'&$! 6>/,%&',&%! #2! $&'@+3&! 6>2,&! ,)2@&--&! '&-#%+),! &,%'&! -&$!

#'%+$%&$!&%!-&2'!(2F-+3

!ooooooooooooooooooooXXXoooXo(r^! #\! C,"4-&")(&"),B"(;7-),B"7%2*),BooooooooooooooooooXXXo(r^! F\! /-7"!"@)47"."50)(&"2%4&-3#%()*4"-&"8-7"!"@%88%K-(7"."50947&)'()3oooooXX(WP! ! Z\!

!"C%44-<3%*"&%4"947&)'()3"-&"=-"&-"5*()*"+,-8")(&*7&-"&,"-7".!.!6&!->+--2$+),!62!

()2@)+'!g!->)F$)-&$3&,3&!6&$!)2%+-$!6+:+%#2_

ooooooooooooooXX(W`! #\! C-" 8)" 2%47&(,2&*%4" A" 8)" 5;2%47&(,2&*%4" 5-" 8)" @*',(-" 5-" 80)(&*7&-" 6*)" ,4" ,7)'-"

3)77*@"5-7"(;7-),B"7%2*),BoooooooooooooooooooooXX(W`! F\! /0)(&*7&-1"3)4*#,8)&-,("50%,&*87"5*'*&),B"G"M7,(<N6*6(-"),<5-8A"5-7"3%5-7EDDoX(WW! ! ! 1),3-2$+),oooooooooooooooooooooooooooXXXooooo(POZ! ! I+F-+):'#(9+&oooooooooooooooooooooooooooXXXooooX(PPP!

!

!

!

!

(8)

! ! '!

!

(9)

! ! (!

234"56784253!!

!

!"C%44-<3%*" &%4" 947&)'()31" =-" &-" 5*()*" +,-8" )(&*7&-" &," -7".OU! !"C;2%,6(-P" 8-7"

2%,8*77-7"5,"3%45-"5-"80)(&"-4",4"28*2".QU!!"I4-"7;8-2&*%4"5-7"OR")(&*7&-7"*42%4&%,(4):8-7"

SA" 7,*6(-" 7,(" 947&)'()3T".Uo! .! -&$! +,f),3%+),$! ,&! 0#,<2&,%! (#$U! &%! -&$! !"&%#" OR"5-7"

2%3#&-7"5-"80)(&".!(2--2-&,%X!p&$!056+#$!$&0F-&,%!$>k%'&!0+$!6>#33)'6U!-&!$3#,6&,%!9#2%!&%!

*)'%!.!/,$%#:'#0!&%!#3%&2'$!6&!->#'%!@),%!65$)'0#+$!6&!(#+'X!/-!$&'#+%!#-)'$!6&!F),!:)s%!()2'! %)2%!2%+-+$#%&2'!32'+&2_!6&!$2+@'&U!,),!(-2$!=!&,!2,!3-+3!A!0#+$!(-2%n%!62!F)2%!62!6)+:%!$2'! $),! $0#'%(9),&U! 6>2,! :&$%&! 6&@&,2! '5*-&_&U! -&$! #'%+$%&$! 6),%! +-! &$%! <2&$%+),X! 4+! ,),! .!

!"H%,0(-" 7%(-8H" 3*77*4'" %,&".VU! &%! -#! $)0F'&! 0&,#3&! 6&! 0#,<2&'! 2,&! F&--&! )33#$+),! $&0F-&! &,3)'&! (-2$! %&''+F-&! g! ->9&2'&! 6&$! '5$&#2_! $)3+#2_! &%! 6&! ->+0056+#%&%5! 6&! ->+,*)'0#%+),X!!

4+! #'%+$%&$U! 3)00+$$#+'&$U! :#-&'+$%&$U! 02$5&$U! &%! (-2$! &,3)'&U! $>&_()$&,%! $2'! /,$%#:'#0U! ->)(()'%2,+%5! 6&! 653)2@'+'! -&2'! <2)%+6+&,! (#'#t%! k%'&U! 6>2,! 3)002,! #33)'6U! :'#,6&! C! g! $#+$+'U! $#,$! 95$+%#%+),X! p#! 05%#(9)'&! (&2%! k%'&! *#3+-&! .! ),! (&2%! =!*-h,&'!A! 6#,$! -&2'$! :#-&'+&$U!!"#%,77-("8-7"#%(&-7".!6&!-&2'!02$5&!+0#:+,#+'&U!653)2@'+'U!&,*+,U!-#!@+&!$&3'd%&! 6&! 3&2_! <2+! '5:+$$&,%! 3&! 0),6&! *&'05X! p&$! +0#:+,#+'&$! 6>/,%&',&%! <2&! @59+32-&! -#!

!"5;3%2()&*-" 5*'*&)8-".! -&! (')0&%%&,%U! &%! ->&$%95%+<2&! 6&! -#! (9)%):'#(9+&! +0()$5&! (#'! -#!

(2F-+3#%+),! 6>+0#:&$! $&! @&2%! #'%+$%+<2&! C! 0#+$! ->#'%! (#'! %)2$U! ()2'! %)2$U! 3)2-#,%! :'#3+&2$&0&,%! &%! :'#%2+%&0&,%! #2! *+-! 6&$! +0#:&$! ()$%5&$! $2'! -&! '5$&#2! ,>&$%! (&2%Ck%'&! &,3)'&! <2>2,&! 2%)(+&X! 4+! -&$! :#-&'+&$! @+'%2&--&$! +0+%&,%! -&$! :#-&'+&$! '5&--&$U! <2&! -&$! 3)00&,%#+'&$! +,@+%&,%! g! -#! 3),@&'$#%+),U! &%! <2&! -&$! =!-+M&$!A! +,3+%&,%! #2! (#'%#:&! &%! g! ->+,$(+'#%+),U! +-! &$%! 0)+,$! #+$5! <2>g! ('&0+d'&! @2&! 6>)$&'! #**+'0&'! ->)2@&'%2'&! 62! 0),6&! 6&! ->#'%! &%! 6&! 3-#0&'! -&! 39#,:&0&,%! <2&! (')@)<2&,%! -&$! '5$&#2_! $)3+#2_! $2'! $),! *),3%+),,&0&,%X!

42'! /,$%#:'#0U! -&! 32'+&2_! 6&@+&,%! !"@%88%K-(".D! /-! !"7,*&".! -&$! 3)0(%&$! <2+! ->+,%5'&$$&X! p&! @&'F&U! 6&@&,2! -#! ,)'0&! 6>2,! @)3#F2-#+'&! <2+! '5:+%! %)2$! -&$! '5$&#2_! $)3+#2_U! +--2$%'&! -#! -+0+%&!6&!->539#,:&X!l#3&F))M!)**'&!->#0+%+5![),!&$%!!")3*7".!#@&3!-&$!#2%'&$!3)0(%&$\!C!$2'! /,$%#:'#0U!-&!:&$%&!&$%!g!$&,$!2,+<2&X!"#+$!$+!->),!$>#''k%#+%!g!3&%%&!+,%&'('5%#%+),U!-&!*#+%! 6&!!"7,*6(-".!2,!#'%+$%&!,&!('&,6'#+%!<2&!(&2!6>+,%5'k%!.!),!()2''#+%!$&!%&,+'!#2!3)2'#,%!6&! ->#@#,35&!6&!$),!%'#@#+-U!3)00&!),!()2''#+%!%)2%!#2$$+!F+&,!-&!*#+'&!$2'!2,!$+%&!/,%&',&%U!)2! 3)00&!),!()2''#+%!-&!%')2@&'!6#,$!-&$!(#:&$!6>2,!-+@'&X!p>+,%5'k%!$2':+%!6d$!-)'$!<2&!->#'%+$%&! &$%!#2_!3)00#,6&$U!&%!<2>+-!K!65@)+-&!-&$!(#,$!6&!$),!<2)%+6+&,X!G#'*)+$!3&,$2'5U!$&3'&%U! 0K$%5'+&2_U!$&$!(')()$!%'#,$*)'05$!(#'!-&$!f)2',#-+$%&$!)2!-&$!3)00+$$#+'&$!6>&_()$+%+),U! /,$%#:'#0!#$$2'&!#2!3),%'#+'&!g!->#'%+$%&!-#!*-2+6+%5!6&!$&$!(')()$X!p&!$&2-!+,%&'056+#+'&!,&! 6&@'#+%!k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

(10)

! ! N!

6>#6#(%&'! -&$! 3),%&,2$! g! $&$! (')('&$! ,)'0&$! .! (9)%)$! 3#''5&$U! -5:&,6&$! #2! ,)0F'&! 6&! 3#'#3%d'&$! -+0+%5$! C! 3>&$%! f2$%&0&,%! 3&%%&! ,)2@&--&! *)'0&! 6>+,%&'056+#-+%5! <2+! @#2%! #2_! 3)0(%&$!/,$%#:'#0!->+--2$+),!6&!-#!*-2+6+%5X!! p&!6+#-):2&!$&!*#+%!(#'!->+0#:&!.!%)2'!g!%)2'!F#,6&!6&$$+,5&U!(-#,39&!6&!$%)'K%&--+,:U!f)2',#-! +,%+0&U!-&!3)0(%&!#((#'#t%!0k0&!(#'*)+$!3)00&!2,&!%)+-&!F-#,39&X!72!(&2%Ck%'&!,>&$%C3&U! 2,&!,)2@&--&!*)+$U!<2>2,&!05%#(9)'&!%')(!*#3+-&X!b--&!&$%!()2'%#,%!%&,%#,%&!.!$+!-&!02$5&!&$%! !"2-&&-";&%44)4&-"3)2$*4-"+,*"&()47@%(3-"7#%4&)4;3-4&"-4"*3)'-"&%,&"2-"+,*"#;4Y&(-"7%4" -42-*4&-".`U!,&!(&2%C),!(#$!3)0(#'&'!/,$%#:'#0!g!2,&!0#39+,&!6>2,!,)2@&#2!:&,'&!D!p2+! #2$$+! #! 2,! ()2@)+'! 6&! %'#,$*)'0#%+),! .! $+! 3&! ,>&$%! 6&! %'#,$*)'0&'! %)2%&! +0#:&! &,! )&2@'&! 6>#'%U!3>&$%!%)2%!#2!0)+,$!6&!-#!%'#,$*)'0&'!&,!(#'3&--&!6&!050)+'&U!&,!*'#:0&,%!6>+6&,%+%5X! I&',#'6!B&-)39&!3)0(#'&!-&!02$5&!#2!!"8*-,"5-"#Y8-(*4)'-"%Z"80$%33-"6*-4&"+,;(*("!"7)"

#)(&" 50;&-(4*&;"."." .! ,>&$%C3&! (#$! #2$$+! 3&! <2>+-! 39&'39&U! 6>2,&! 3&'%#+,&! 0#,+d'&U! $2'! -&$!

'5$&#2_!$)3+#2_!C!&%!,>&$%C3&!(#$!-&!'n-&!6&!->#'%+$%&!<2&!6&!->K!()2$$&'!D!

c2_! ('&0+&'$! #F)'6$! 6>2,&! '5*-&_+),! $2'! ->+0(#3%! 6S2,! '5$&#2! $)3+#-! %&-! <2>/,$%#:'#0! $2'! -&$!0),6&$!6&!->#'%!&%!$2'!-#!'&('5$&,%#%+),!6&$!#'%+$%&$!3),%&0()'#+,$U!3&$!,)0F'&2$&$! <2&$%+),$! $>&,%'&0k-&,%U! F)2$32-5&$! (#'! -&$! #,#-):+&$! <2&! ,)2$! #@),$! 5@)<25&$U! &%! (')F#F-&0&,%! &_#:5'5&$! (#'! -&! '5$&#2! -2+C0k0&X! /-! *#2%! #-)'$! %&,%&'! 6>&,! '&6&$$+,&'! -&$! 3),%)2'$!()2'!'&%')2@&'!-&!3),%&_%&!6&!->2%+-+$#%+),!&%!6&!-#!$+:,+*+3#%+),!6&!3&$!'5$&#2_X! p>#'%+$%&! #! %)2f)2'$! @59+32-5! 6&! ,)0F'&2_! 0K%9&$X! T,&! @+&! 6&! F)9d0&U! &0(-+&! 6&! %)2'0&,%$U! &%! 5-)+:,5&! 62! !"3%45-" (;-8".! .! g! 3&$! 3'+%d'&$! '5(),6&,%! -&$! #'%+$%&$! ')0#,%+<2&$U! 6),%! -#! *+:2'&! &$%! 3&--&! 6&! !"80)(&*7&-" &%,(3-4&;" 5)47" 7%4" )&-8*-(" %," 5-"

80;2(*6)*4"5-6)4&"7)"&):8-"5-"&()6)*8".[X!b,!NOPQU!->#'%+$%&!,>&$%!(-2$!$+!!"(%3)4&*+,-".!.!$>+-!

:#'6&! $),! )'+:+,#-+%5! &%! $),! &_%'#@#:#,3&U! +-! $>#,3'&! ,5#,0)+,$! 6#,$! -#! $)3+5%5! &%! 65-#+$$&U!()2'!2,!%&0($U!$#!%)2'!6>+@)+'&X!p>#'%!3),%&0()'#+,U!6),%!2,&!65*+,+%+),!'&$%'&+,%&! ()2''#+%! 65$+:,&'! -&$! ?2@'&$! (')62+%&$! 6&(2+$! -&$! #,,5&$! PW^O! &%! '&@&,6+<2#,%! !",4-"

)6)42;-"5)47"8)"#(%'(-77*%4"5-7")6)4&<')(5-7".QU!&$%!6&@&,2!g!-#!*)+$!2,!!"3%45-".!&%!2,! !"3)(2$;".D!p#!*+:2'&!6&!->#'%+$%&!#!%)2f)2'$!5%5!g!(#'%U!('&$<2&!+,#((')39#F-&!.!#@&3!->#'%!

3),%&0()'#+,U! &--&! $>&,%)2'&! 6>2,! )(#<2&! 0K$%d'&! 6),%! +-! *#2%! 3),,#t%'&! -&$! 3)6&$! &%! ()2$$&'!6&$!3)26&$!C!3&2_!6&$!:#-&'+$%&$U!6&$!3)00+$$#+'&$U!6&$!32'#%&2'$U!6&$!3'+%+<2&$U! 6&$!0),6#+,$!C!()2'!#((')39&'!->#'%+$%&!6&@&,2!!"7,#-(7&)(".X!;#%9#-+&!L&+,+39!->&_(-+<2&! (#'! -&! !"'8*77-3-4&" 5-" 80*4&;(\&" 5-" 80],6(-" A" 8)" #-(7%44-".! #@&3! -&$! ('50+3&$! 6&! ->#'%! 3),%&0()'#+,X! p#! *+:2'&! 6&! ->#'%+$%&! ('&,6! 2,&! @#-&2'! %&--&! <2>&--&! 65(#$$&! -#! (')623%+),! 0k0&! 6&! $&$! ?2@'&$! .! ->#'%+$%&! $>5'+:&! &,! 95')$X! B5$)'0#+$U! -#! @#-&2'! 6&! $&$! ?2@'&$! 65(&,6'#! 6&! $#! 056+#%+$#%+),! C! &,! %#,%! <2&! (&'$),,&X! u! 3&! f&2! 6&! ()(2-#'+%5U! -#! 3)0(5%+%+),! &$%! '26&X! "#+$! -#! 0#$$+*+3#%+),! 6&$! 056+#$! &%! ->)(()'%2,+%5! 6&$! '5$&#2_! $)3+#2_!(&'0&%!g!2,!:'#,6!,)0F'&!6&!3)0(5%+%&2'$!6&!%&,%&'!-&2'!39#,3&!.!%)2%!-&!0),6&! ,>#C%C+-!(#$!6')+%!g!$),!!"+,)(&"50$-,(-"5-"2;8;:(*&;".!D! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! % !^156A41!*1,;-,E7!>&"(3,?&"=)/*3&47!S,1FF1F!_;0L1,F0.-0,1F!E1!K,-;A1!2!S_K7!"<))7!"&%:7!:N@! &!`+]J!34,0F.0-;7!U!Ta-,.0F.1!A6;.1B:6,-0;!1.!5-!A6;FA01;A1!E1!F6;!b:6H+1!_;!1;.,1:,1;1+,!F-;F!b.-.!EacB1!d!Z7!QA.+15! /-,97!">"<<"!e;f!#"g7!:@!)(%2)N&@! ' !R-.4-501![10;0A47!U!Ta-,.!A6;.1B:6,-0;!1F.205!+;1!F6A0656C01!d!Z!:@!&#!)%"@/-%1"#):*)$%%-)/&"1&"4-"7A)4$,$7A)&7!F6+F!5-! E0,@!E1!/0A415!*5-J7!T-,6+FF1!2!3R`\!hE0.06;F7!"<<#@!

(11)

! ! )<!

b,! 0k0&! %&0($! <2&! -#! *+:2'&! 6&! ->#'%+$%&! 39#,:&U! &%! <2&! -#! ,#%2'&! 6&! ->?2@'&! 6>#'%! $>&,!

%')2@&! 0)6+*+5&! C! %)2%! 6&@'#+%! 65$)'0#+$! k%'&! !"'()45*%7-"#%,(" \&(-" (-3)(+,;".r! C!

->#((#'+%+),!6>/,%&',&%!&%!6&$!)2%+-$!6+:+%#2_!F)2$32-&!#2$$+!3&'%#+,&$!('#%+<2&$!62!0#'395! 6&!->#'%X!p&$!3)--&3%+),,&2'$!),%!-),:%&0($!5%5!#((#'&,%5$!g!6&$!0),6#+,$!6),%!-#!*)'%2,&! &%! -#! 0#%2'+%5! #2%)'+$#+&,%! 3&%%&! (#$$+),! 3)s%&2$&X! G)2'! 3&'%#+,$U! -#! (#$$+),! #! (&2%Ck%'&! 3565! $#! (-#3&! g! -#! ,)%+),! 6>+,@&$%+$$&0&,%X! /-! &$%! &,3)'&! F&#23)2(! [&%! (&2%Ck%'&! &,3)'&! 6#@#,%#:&!<2>+-!K!#!<2&-<2&$!#,,5&$\!<2&$%+),!6>#':&,%!6#,$!3&!0),6&!C!&%!g!->#':&,%!),! #$$)3+&!-&$!*k%&$U!-&$!6t,&'$U!&%!-&$!&_%'#@#:#,3&$!C!0#+$!-#!6+:+%#-+$#%+),!6&!@&,%&$!6>#'%!#! (&'0+$U!$+!3&!,>&$%!&,3)'&!->#33&$$+F+-+%5U!62!0)+,$!-#!%'#,$(#'&,3&X!p&$!3n%&$!6&$!#'%+$%&$! &%!6&!-&2'$!?2@'&$!$),%!6+$(),+F-&$!v!),!(&2%!$2+@'&!->#@#,35&!6&$!&,39d'&$!v!$>+,*)'0&'! $2'!-&!*),3%+),,&0&,%!62!0#'395!6&!->#'%!3),%&0()'#+,X!b,!2,!3-+3U!),!(&2%!#3356&'!g!%)2%! ->9+$%)'+<2&! 6>2,! #'%+$%&X! G)2'! 2,! 3)--&3%+),,&2'U! -&! 3)0(%&! /,$%#:'#0! 6>2,! #'%+$%&! 6),%! +-! $)29#+%&! #3<25'+'! 2,&! ?2@'&! (&2%! k%'&! 2,! :'##-! .! <2&--&! 0&+--&2'&! $)2'3&! 6>+,*)'0#%+),! ()2'!f&%&'!2,!F'&*!3)2(!6S?+-!g!$),!2,+@&'$!&%!&$%+0&'!$#!()(2-#'+%5!D!

p>#'%!3),%&0()'#+,!,>&$%!()2'%#,%!(-2$!$&2-&0&,%!'5$&'@5!#2_!#@&'%+$X!$+!-#!650)3'#%+$#%+),! 6&!->#'%!,>#F)2%+%!(#$!#2!%)2%C(2F-+3U!&--&!3),%'+F2&!3&(&,6#,%!g!3&!<2&!!"5-7"#)(&*2,8*-(7"

#,*77-4&" -4" #8,7" '()45" 4%3:(-" 70)##(%#(*-(" 80)(&" 5)47" 8-,(" 6*-" #(*6;-" -&" (-6-45*+,-(" ,4-" *5-4&*&;" )(&*7&*+,-".WX! c2_! @#-&2'$! 62! $5'+&2_! &%! 62! '&32&+--&0&,%! <2+! ),%! (2! 3#'#3%5'+$5!

->#'%U! 3>&$%! 6#@#,%#:&! g! 3&--&$! 6&! =!80-B2*&)&*%41" 5," 5*6-(&*77-3-4&1" 5," #8)*7*(".PO! <2&! ->),!

%&,6X! J+--&$! p+()@&%$MK! &%! i&#,! 4&'')K! <2#-+*+&,%! 3&! ,)2@&#2! 0)6&! 6&! @+&! (#'! -&! =!3#(+%#-+$0&! #'%+$%&!AX! 4&-),! &2_U! !"4%,7" 7%33-7" &%,7" )(&*7&-7".U! 3#'! !"80)(&" -7&"

#(;2*7;3-4&" 80)2&*6*&;" 7,72-#&*:8-" 5-" 7)&*7@)*(-" #)(-*88-7" )&&-4&-71" 50),&)4&" +,-" 7)" :)4)8*7)&*%41" A" &()6-(7" ;3*77*%47" 5-" &;8;1" 3)')P*4-71" (-#%(&)'-71" 5%44-" A" 2$)2,4" 80*5;-" +,-" 2-" 40-7&" #)7" ,4" 5%3)*4-" (;7-(6;" ),B" ),&(-71" 3)*7" +,0*8" )" &%,&-" 8;'*&*3*&;" A" 70H" @)*(-" -4&-45(-D" /0)(&*7&-1" 2-" 40-7&" #8,7" 80),&(-1" 8-" #(%#$Y&-1" 8-" 3)('*4)81" 80-B2-4&(*+,-"G" 2-" #-,&" \&(-1"),77*1"3%*1"&%,&",4"2$)2,4".PPX!

G)2'%#,%U!()2'!-&$!,)@+3&$U!/,$%#:'#0!,>#2%)'+$&!<2>2,&!()$+%+),!('&$<2&!!"6%H-,(*7&-".D!4+!

6&$! 3)--&3%+),,&2'$! #**+'0&,%! ()2@)+'! !"-4&(-(" 5)47" 8-" 3H7&Y(-" 5-" 80%-,6(-".PN! -)'$<2>+-$!

'&,3),%'&,%!$),!3'5#%&2'U!-&$!$+0(-&$!#0#%&2'$!&,!$),%!#-)'$!-)+,X!/-$!(&2@&,%!%)2%&*)+$!&,! 653&-&'!3&'%#+,$!3)6&$U!&%!'&3),$%'2+'&!-&$!(+d3&$!6>2,!(2ww-&!<2+!#2%'&*)+$!$>5(#'(+--#+&,%! 6#,$!->)0F'&X!4+!%&-!#'%+$%&!0&,%+),,&!3&!02$5&U!),!3)0('&,6!<2>+-$!$),%!-+5$!C!(&2%Ck%'&! ->#'%+$%&! K! ('5(#'&C%C+-! $#! (')39#+,&! &_()$+%+),! D! 4+! %&-! 32'#%&2'! ()$%&! 2,&! (9)%)! 6&! %&-! :#-&'+$%&U! ),! 3)0('&,6! <2>+-$! ),%! 5%5! #2! 0k0&! 5@5,&0&,%! C! $>#:+$$#+%C+-! 6>2,&! '53&(%+),! )':#,+$5&!(#'!2,!3)2(-&!6&!3)--&3%+),,&2'$!D!1&%%&!:#-&'+&!#!()$%5!2,&!(9)%)!6&!$),!$%#,6! g!3&%%&!*)+'&!.!3>&$%!F+&,!-#!('&2@&!6&!$#!3')+$$#,3&!*2-:2'#,%&!x!79U!&%!3&$!6&2_!#'%+$%&$C3+! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! (!`+]J!34,0F.0-;7!U!Ta-,.0F.1!A6;.1B:6,-0;!1.!5-!A6;FA01;A1!E1!F6;!b:6H+1!_;!1;.,1:,1;1+,!F-;F!b.-.!EacB1!d!Z7!QA.+15! /-,97!">"<<"!e;f!#"g7!:@!)(%2)N&@! N!/-,.0;2K+C01,!Q;;17!B$44&:*)$%%&3/,"C"D%*/&*)&%,7!QA.1F!\+E!8E0.06;F7!"<)"7!"NN:7!:)<@! )<!/0A4-+E!VL1F7!>;-/*"&*"4&,":$((),,-)/&,7!K-J-,E>S5+,0157!"<)"7!"#(:7!:)N&@! ))!T0:6L1.FiJ!j0551F7!\1,,6J!k1-;7!>E&,*A?*),-*)$%"13"($%1&F"G)=/&"<"4EH.&"13":-7)*-4),(&"-/*),*&7!S-,0F7!8E0.06;F! j-550B-,E7!A655@!U![6,F!Fb,01!36;;-0FF-;A1!Z7!"<)#7!$N#!:@! )"!/-,.0;2K+C01,!Q;;17!B$44&:*)$%%&3/,"C"D%*/&*)&%,7!QA.1F!\+E!8E0.06;F7!"<)"7!"NN:7!:"(#@!

(12)

! ! ))!

$&!$),%!%#:25$!$2'!6&$!(2F-+3#%+),$!g!(-2$+&2'$!'&('+$&$!C!%'#@#+--&,%C+-$!&,$&0F-&U!$),%C+-$! #0+$!D!!

G)2'! -&! ,)@+3&U! %)2'! g! %)2'! 32'+&2_U! #0#%&2'U! !"@%88%K-(".1! -&$! 3)0(%&$! $),%! -#! (')0&$$&! 6>2,&! +,%+0+%5! &,*+,! 65@)+-5&! C! 0#+$! ->+,%+0+%5! '&$%&! 0#t%'+$5&U! &%! ->53'#,! 62! $0#'%(9),&U! 3)00&!-&!1"4!62!'5$&#2U!$>#$$2'&,%!6&!,&!(#$!-#+$$&'!%'#,$(#'#t%'&!6&$!$&3'&%$!%')(!F+&,! :#'65$X!

4+! ->),! $>5-)+:,&! 2,! 0)0&,%! 6&! ->2%+-+$#%+),! 6>/,$%#:'#0! (#'! -&$! #3%&2'$! 6&! ->#'%U! ),! (&2%! 3),$%#%&'!->5%&,62&!6&!$),!+,*-2&,3&U!6#,$!-&$!$(9d'&$!(2F-+<2&$![39&w!-&$!!"#-%#8-".")2! 0k0&! -&$! ()-+%+<2&$! C! 7F#0#! #! $),! (')('&! 3)0(%&! x\! 3)00&! 6#,$! -&$! $(9d'&$! -&$! (-2$!

('+@5&$X! c62-5! (#'! -&$! (-2$! f&2,&$U! f2:5! =!,)3+*!APZ! 6s! #2_! +0#:&$! (&'*&3%+),,5&$! <2>+-!

'&,@)+&U!+-!&$%!-#!@+%'+,&!6>2,&!!"&$;^&()8*7)&*%4"5-"7%*".P]!6),%!),!,&!$#+%!(-2$!@'#+0&,%!<2+!

&$%! #2_! 0#,&%%&$X! p&$! ()$%$! -&$! (-2$! !"8*F;7".! $),%! -&$! (9)%)$! 6&! @#3#,3&$! #2_! 6&$%+,#%+),$!&_)%+<2&$U!&_9+F#,%!6&$!3)'($!0+,3&$!&%!02$3-5$U!)2!&,3)'&!6&$!+0#:&$!6&! *k%&$U! 6&! F&#2_! @k%&0&,%$U! 6&! (-#%$! 65-+3+&2$&0&,%! ('5(#'5$! .! 2,&! 6+0&,$+),! &_%'#)'6+,#+'&U!('&$<2&!$2''5&--&U!)y!-#!@+&!(#'#t%!-+$$&!&%!0#t%'+$5&X!!

7'U! 6d$! -)'$! <2&! ->#'%+$%&! $>&0(#'&! 62! '5$&#2U! $#! *),3%+),! $&! F')2+--&X! i&#,CG#2-! l)2'0&,%'#2_! $)2-+:,&! <2&! ->)'+:+,#-+%5! 6>/,%&',&%! %+&,%! g! 3&! <2S+-! (')()$&! $+02-%#,50&,%!

!",4" 7,##%(&1" ,4" %,&*81" -&" ,4" -46*(%44-3-4&" 2(;)&*@".P`X! "#+$! <2&! $)29#+%! #-)'$! ->#'%+$%&! C! $>&_()$&'! D! 4&! (')0)2@)+'! D! 4&! '#((')39&'! 6&! $),! (2F-+3! D! l#+'&! 6&! 3&! '5$&#2! 2,! ,)2@&#2!$2(()'%!6&!$#!('#%+<2&!#'%+$%+<2&!D!4#!$&2-&!*+:2'&!C!->)'+:+,#-U!-&!(')@)3#%&2'U!-#! $%#'! C! $&0F-&! 6)%&'! $),! 3)0(%&! 6>2,&! #2'#! !"7,#;(*-,(-".D! B>2,! #'%+$%&U! ),! #%%&,6'#! %)2f)2'$!6#@#,%#:&!.!$2'!/,$%#:'#0U!3>&$%!#2$$+!-&!3#$X!

G)2'!->#'%+$%&!65fg!-5:+%+05U!-#!056+#%+$#%+),!6&!$),!3)0(%&!@#!6&!(#+'!#@&3!-#!,)%)'+5%5!<2>+-! #! 65fg! #3<2+$&X! "#+$! ()2'! ->#'%+$%&! &,! @)+&! 6&! -5:+%+0#%+),U! $),! &,%'&%+&,! ,>&$%! (#$! $#,$! &,f&2_X! p>)Ff&3%+*! ,>&$%! (-2$! $&2-&0&,%! ()2'! -2+! 6>#33202-&'! -&$! !"8*F-7".! &%! -&! ,)0F'&! 6>#F),,5$! C! F+&,! <2&! -&$! 39+**'&$! &%! -&$! $%#%+$%+<2&$! $&'@&,%! 6>#((2+! g! 2,&! ('&2@&! 6&! ()(2-#'+%5! C! 0#+$! #2$$+! 6&! %)239&'! -&$! 3)0(%&$! (&'%+,&,%$! #2! 65@&-)((&0&,%! 6&! $#! 3#''+d'&!.!:#-&'+$%&$U!02$5&$U!3'+%+<2&$X!b%!g!)Ff&3%+*U!+-!K!#!$%'#%5:+&!.!g!3&%!5:#'6U!-#!,)%+),! 6>#'%+$%&!!"-4&(-#(-4-,(".!('&,6!%)2%!$),!$&,$!C!3&--&!!"50)(&*7&-<3)(+,-".!@+&,%!->#((2K&'X!! p>#'%+$%&! (&2%! 6),3! $&! !"@):(*+,-(".! .! )2! 62! 0)+,$U! *#F'+<2&'! $),! (&'$),,#:&U! &%! -&! *#+'&! :'#,6+'!#2!*+-!6&$!()$%$X!/,$%#:'#0!$&'%!#-)'$!6&!$2(()'%!g!$#!056+#%+$#%+),X!G#'*)+$U!+-!*#+%! 0k0&!)**+3&!6>5%+<2&%%&!.!),!6+'#!6&!->#'%+$%&!3#,#6+&,,&!19-)&!z+$&!<2>&--&!&$%!!"&$-")(&*7&"

K$%"2)3-"@(%3"947&)'()3".P^X!p#!('&2@&!&,!&$%!<2&!6&!,)0F'&2_!#'%+$%&$U!f&2,&$!()2'!-#! (-2(#'%U! 65(#$$&,%! $#,$! 5%#%$! 6>h0&U! (#'! -&2'! ,)0F'&! 6>#F),,5$U! -&$! #'%+$%&$! -&$! (-2$! 39&'$!&%!-&$!(-2$!('+$5$!62!0),6&!6&!->#'%X!/-$!$&0F-&,%!65%&,+'!-&$!3)6&$!6>2,&"!"2,8&,(-" !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! )#!\156;!+;1!b.+E1!E1!5-!`6J-5!\6A01.J!M6,!S+]50A![1-5.4!e`\S[g7!"<)'! 4..:=>>???@;+B1,-B-@A6B>.1A4>"&<")%20;F.-C,-B21.2F;-:A4-.2F1,-01;.251F2:0,1F2,1F1-+92F6A0-+92:6+,2512]01;2 1.,12E1F2G1+;1F@4.B5! )$ !^1F10550C;J7!X,0-;17!>-"(?($)/&"-77-/&)44?&C"1),7$,)*)I,"%3(?/)23&,"&*"?:/)*3/&"1&",$)J"j`YSY37!"<)"! )%!K6+,B1;.,-+9!k1-;2S-+57!U!T-!A,b-.06;!-+!,0FH+1!ElY;.1,;1.!2!/6+A41..1!e)NN&2"<<&g!Z7!`1L+1!8.4;656C01!K,-;m-0F17! "<<(7!:@%N!=!4..:F=>>???@A-0,;@0;M6>,1L+121.4;656C012M,-;A-0F12"<<(2)2:-C12%N@4.B! )& !S,1FF51,!k1FF0A-7!U!Tl-,.0F.1!L1;+1!ElY;F.-C,-B!Z7!I+5.+,17!"<)'! 4..:=>>???@L+5.+,1@A6B>"<)'><$>A45612?0F12-,.0F.2?462A-B12M,6B20;F.-C,-B@4.B5!

(13)

! ! )"!

94&-(4-&".!6),%!+-$!#2'#+&,%!#2%#,%!+,%5'+)'+$5!-&!-#,:#:&!<2&!-&2'!-#,:2&!,#%#-&X!"#+$U!()2'!

#2%#,%U! 65%+&,,&,%C+-$! -&$! 3)6&$! 62! 0),6&! 6&! ->#'%! D! T,! !"8*F-".! ,>&$%! (#$! 5:#-! g! 2,&! -5:+%+0#%+),o!0#+$!#-)'$U!<2>&$%C3&!<2+!*#+%!('&2@&!6&!-5:+%+0#%+),!$2'!/,$%#:'#0!D!

b,! %#,%! <2>5%26+#,%&! #@+6&! 6>+0#:&$U! f&! $2+$! #@&3! +,%5'k%U! 6&(2+$! <2&-<2&$! #,,5&$U! -&$! 3)0(%&$!6>#'%+$%&$!<2&!f>#(('53+&X!c2!*+-!6&$!$2::&$%+),$!&%!6&!*-h,&'+&$U!f>&,!#+!653)2@&'%! 6>#2%'&$U!&%!6>#2%'&$!&,3)'&U!&%!(2+$!f&!0&!$2+$!+,%5'&$$5&!g!6&$!:#-&'+&$U!g!6&$!32'#%&2'$U! g!6&$!3)--&3%+),,&2'$X!i&!0&!$2+$!(&2!g!(&2!*#$3+,5&!(#'!2,&!&$%95%+<2&!<2+!0&!$&0F-#+%! (')('&! g! /,$%#:'#0! .! ,),! (-2$! $&2-&0&,%! 3&--&! 62! 0),6&! 6&! ->#'%U! 0#+$! ! 3&--&! <2&! f&! '&%')2@#+$!g!-#!*)+$!$2'!-&$!3)0(%&$!6&!0&$!#0+$U!&%!g!-#!*)+$!$2'!3&2_!6>+,3),,2$!<2&!f&! $2+@#+$! C! +-! K! #@#+%! 2,&! #%0)$(9d'&U! 6&$! 65%#+-$U! 6&$! 3)2-&2'$! <2+! 0>#%%+'#+&,%X! q2&-<2&! 39)$&! <2+! 0&! *#+$#+%! +''5$+$%+F-&0&,%! !"72(%88-("." &%! !" 72(%88-("." &,3)'&U! %&-! 2,! @)'%&_! 6&$! 056+#$!$)3+#2_X!

b,!%#,%!<2>5%26+#,%&!&,!$3+&,3&$!6&!->+,*)'0#%+),!&%!6&!-#!3)002,+3#%+),!$(53+#-+$5&!6#,$! -&! ,205'+<2&U! f>#+! @)2-2! %&,%&'! 6>#,#-K$&'! 3&$! 3)0()'%&0&,%$X! p>56+%)'+#-+$#%+),! 6&$! 3)0(%&$! $2'! -&$<2&-$! f&! ()2@#+$! (#$$&'! 6&! -),:2&$! 0+,2%&$! 6&@#+%! *)'350&,%! &_(-+<2&'! 0),! #66+3%+),X! 8'd$! +,%5'&$$5&! (#'! ->#'%! 3),%&0()'#+,U! F+&,! <2&! 0&$! 3),,#+$$#,3&$! K! $)+&,%! -+0+%5&$U! f>#+! 653+65! 6&! 65F2%&'! 0&$! #,#-K$&$! (#'! ->5%26&! 6&! 3)0(%&$! /,$%#:'#0! 6>#'%+$%&$!C!g!-#!*)+$!3&2_!6&$!!"7,#-(7&)(7".!6),%!f&!@+$+%#+$!-&$!&_()$+%+),$!6#,$!-&$!(-2$! :'#,6$! 02$5&$U! &%! g! -#! *)+$! 6&$! #'%+$%&$! !"3%4&)4&7".1! 0)+,$! 3),,2$U! 0#+$! 6),%! -&$! 3)0(%&$!0&!*#$3+,#+&,%!&,3)'&!6#@#,%#:&X!i>&$%+0#+$!<2&!->5%26&!62!0),6&!6&!->#'%!$2'!2,! '5$&#2!%&-!<2>/,$%#:'#0!$&!6&@#+%!6>k%'&!'5@5-#%&2'!6&!->2$#:&!*#+%!6&!-#!(-#%&*)'0&!C!3>5%#+%U! ()2'!0)+U!->+--2$%'#%+),C0k0&!6>2,!0),6&!<2+!0k-#+%!f&%!$&%U!(#+--&%%&$U!#':&,%U!#'%U!65$+'!&%! 0K$%d'&X!!

4+! f&! 0&! $2+$! 6>#F)'6! +,%&''):5&! $2'! ->+0(#3%! <2>/,$%#:'#0! ()2@#+%! #@)+'! $2'! -#! '&('5$&,%#%+),! 6&$! #'%+$%&$! (#'! -&! :'#,6! (2F-+3U! f>#+! @+%&! '5#-+$5! <2>+-! 5%#+%! 6#@#,%#:&! <2&$%+),! 6&! !"3;5*)&*7)&*%4".!.! 2,&! 0#,+d'&! ()2'! &2_! 6&! 6+**2$&'! -&2'$! ?2@'&$U! -&2'$! )(+,+),$U!&%!6&!'&,6'&!@+$+F-&$!-&$!(&'$),,#:&$!<2>+-$!$&!3'5#+&,%D!/-!&$%!6+**+3+-&!6&!<2#-+*+&'! 2,&!*+:2'&U!3)00&!+-!&$%!6+**+3+-&!6>&$%+0&'!2,!:-+$$&0&,%!6#,$!-#!0#,+d'&!6),%!3&--&C3+!&$%! (&'m2&X!!

"#!('&0+d'&!+65&!5%#+%!6&!6+'&!<2>/,$%#:'#0!(&'0&%%#+%!2,&!)2@&'%2'&!62!0),6&!6&!->#'%U! #2_! #'%+$%&$! 50&':&,%$! ,)%#00&,%U! &,! 0k0&! %&0($! <2>+-! (&'0&%%#+%! 2,&! 0&+--&2'&! 056+#%+),!6&!->#'%+$%&!g!$),!(2F-+3X!"#+$!f>&,!#+!@+%&!'5#-+$5!-#!-+0+%&X!4+!/,$%#:'#0!()2@#+%! (&'0&%%'&! g! 2,! #'%+$%&! 6&! $&! 056+#%+$&'U! -&$! 539#,:&$! &,! 5%#+&,%! ()2'%#,%! '&$%'&+,%$X! p>#'%+$%&!$>K!65@)+-#+%U!3&'%&$U!&%!0),%'#+%!2,&!,)2@&--&!+0#:&!6&!-2+X!"#+$!(#'!-&$!,)'0&$! <2>+0()$#+%! -&! 1"4U! 3&! <2+! 5%#+%! (&'m2! (#'! ->2%+-+$#%&2'! ,>5%#+%! <2&! 3&! <2&! ->#2%&2'! &%! -#! (-#%&*)'0&! #33&(%#+&,%! 6&! 65@)+-&'X! /,$%#:'#0! $&! *#+$#+%! -&! $2(()'%! 6>53'+%2'&! 6>2,&! &_()$+%+),!6&!$)+!'5:+&!(#'!6&$!,)'0&$X!

i>#+! 6),3! '&$$&''5! 0),! $2f&%U! &%! f>#+! 65%&'0+,5! -#! (')F-50#%+<2&! $2+@#,%&! .! 9-(*! :;#<<#!

$#*;%#! 2(*)-=%-$! *#! >-')?'<! <#! *;@@,%)! 9AB&%');%#! 9#! <A-%)'*)#! &,()#$@,%-'(! 9-(*! <-! &,(*)%;&)',(!9#!*-!>'=;%#!$B9'-)':;#!C!

G)2'!65%&'0+,&'!0&$!%')+$!9K()%9d$&$U!f&!0&!$2+$!F#$5&!$2'!-&$!)F$&'@#%+),$!<2+!0&!$),%! 6>#F)'6! @&,2&$! -)'$<2&! f>#+! &,%#05! 0&$! #,#-K$&$X! /-! K! #@#+%! 6>#F)'6! 2,&! <2&$%+),! <2+!

(14)

! ! )#!

'&()$#+%! $2'! -#! *+:2'&! 6&! ->#'%+$%&! &%! $#! :'#@+%#%+),! #2! 3&,%'&! 6>2,! 53)$K$%d0&! 6&! ->#'%! .! 3)00&,%! /,$%#:'#0! (&'0&%%#+%C+-! 6>&,! $#+$+'! -&! $K$%d0&! D! b,$2+%&! @&,#+%! 3&--&! 6&! -#! 056+#%+$#%+),! 6&! *+:2'&$! (2F-+<2&$! .! 3)00&,%! /,$%#:'#0! ()2@#+%C+-! 5'+:&'! 6&$! 2%+-+$#%&2'$! (&2!3),,2$!&,!6&!@5'+%#F-&$!#'%+$%&$!D!b%U!&,*+,U!3&--&!62!$2(()'%!6>2,&!('#%+<2&!#'%+$%+<2&!.! /,$%#:'#0!()2@#+%C+-!-&!6&@&,+'!D!

1&$! )F$&'@#%+),$! 0>),%! (&'0+$! 6&! $#+$+'! -&$! %')+$! 9K()%9d$&$! <2+! ),%! :2+65! 0&$! '&39&'39&$X!

"#!('&0+d'&!9K()%9d$&!&$%!<2>/,$%#:'#0!(&'0&%!6&!'&3'5&'!@+'%2&--&0&,%!-&!0),6&!$)3+#-! 6&!->#'%U!&,!0k0&!%&0($!<2>+-!$&'%!6&!$2(()'%!g!2,&!!"*3)'-(*-"5,"(\6-".D""

"#!$&3),6&!9K()%9d$&!&$%!<2>/,$%#:'#0!$&'%!6&!$2(()'%!g!->&_('&$$+),!6&!-#!$+,:2-#'+%5!6&! ->#'%+$%&!3),%&0()'#+,!v!&,%'&!!"7-8@<:()45*4'".!&%!#'%+*+3#%+),!6&!$&$!3),%&,2$U!->#'%+$%&!(&2%! f)2&'! #@&3! $#! *+:2'&! 6>#'%+$%&! ()2'! '&,*)'3&'! $),! 0K$%d'&U! %)2%! &,! 3'5#,%! ->+--2$+),! 6&! -#! (')_+0+%5!#@&3!$),!(2F-+3X!

"#!%')+$+d0&!9K()%9d$&!&$%!<2&U!$2'!/,$%#:'#0U!-&$!+0#:+,#+'&$!6>/,%&',&%!$&!9&2'%&,%!#2_! 3)6&$! 6&! @+$+F+-+%5! 62! a&F! NXO! .! -&$! #-:)'+%90&$! ()2$$&,%! g! -#! (&'*)'0#,3&! &%! g! ->#33')+$$&0&,%! 6&$! 39+**'&$U! #2! 65%'+0&,%! 6>2,&! ,)2@&--&! *)'0&! 6&! 056+#%+),! )2! 6>2,&! 650)3'#%+$#%+),!6&$!('#%+<2&$!#'%+$%+<2&$X!1&%%&!3)2'$&!g!-#!056+#%+$#%+),!$&0F-&!$+0+-#+'&! g!3&--&!<2+!'5:+%!-&!0),6&!6&!->#'%X!

G)2'! 0&,&'! 0&$! '&39&'39&$U! f>#+! 65%&'0+,5! 2,! 3)'(2$! 6&! $+_! 3)0(%&$! 6>#'%+$%&$! .! 6>2,! 3n%5U! 3&2_! 6&! %')+$! #'%+$%&$! 65fg! -5:+%+0+%5$! 6#,$! -&! 0),6&! 6&! ->#'%! C! c+! z&+a&+U! c,+$9! H#())'U! &%! 8#M#$9+! "2'#M#0+X! B&! ->#2%'&U! %')+$! #'%+$%&$! 65fg! ('5$&,%$! $2'! -&! 0#'395U! '&('5$&,%5$! (#'! 6&$! :#-&'+&$U! &%! @&,62$! 6#,$! 6&$! @&,%&$! #2_! &,39d'&$U! 0#+$! 0)+,$! 3),,2$! 62! :'#,6! (2F-+3U! &%! +,&_+$%#,%$! 6#,$! -&$! 3-#$$&0&,%$! )**+3+&-$! 6&! ->#'%! .! i2-&$! 6&! I#-+,3)2'%U!19-)&!z+$&U!&%!G&%'#!1)--+,$X!1&$!3)0(%&$!$),%!+$$2$!6&$!,)0F'&2_!!"&%#"OR".! <2>),!(&2%!'&%')2@&'!$2'!/,%&',&%!&%!6),%!->2,!*+:2'&!&,!#,,&_&X!

i>#+! $)29#+%5! &,'+39+'! 0),! #,#-K$&! &,! #f)2%#,%! 6>#2%'&$! 3)0(%&$! /,$%#:'#0! -+5$! g! ->#'%! .!! 6>2,! 3n%5U! 3&-2+! 62! "2$&20! )*! ")6&',! c'%! [")"c\! &%! 3&-2+! 6&! -#! :#-&'+&! G&'')%+,X! B&! ->#2%'&U! 3&2_! 6&! 6&2_! *+:2'&$! +,*-2&,%&$! .! 3&-2+! 62! 4+0),! 6&! G2''KU! 32'#%&2'! &%! 3)--&3%+),,&2'U!&%!6&!L#,$!T-'+39!7F'+$%U!6+'&3%&2'!#'%+$%+<2&!6&!-#!4&'(&,%+,&!J#--&'KX! c! (#'%+'! 6&! 3&$! 6+_! 3)0(%&$U! f>#+! '5#-+$5! 2,&! #,#-K$&! $50+)-):+<2&U! #:'50&,%5&! 6>2,&! #,#-K$&!3)0(#'#%+@&!&,%'&!-&$!3)0(%&$!6&!6+**5'&,%&$!,#%2'&$!.!(#'!&_&0(-&U!<2>&$%C3&!<2+! 6+**5'&,3+&!-&!3)0(%&!6>2,!#'%+$%&!6&!3&-2+!6>2,!02$5&!D!i>#+!$)29#+%5!653&-&'!-&$!$+:,&$U! -&$!$+:-&$U!&%!-&$!3)6&$!<2+!*#+$#+&,%!#((#'%&,+'!3&$!3)0(%&$!#2_!!"3%45-7"5-"80)(&".!&%!<2+! -&$!*#+$#+&,%!5@)-2&'!6#,$!-&!0k0&!53)$K$%d0&X!!

i&! 0&! $2+$! #2$$+! F&#23)2(! #((2K5&! $2'! 6&$! #'%+3-&$! 6&! ('&$$&U! ,)%#00&,%! 3&2_! <2+! @#-)'+$#+&,%!-&$!3)0(%&$!/,$%#:'#0!)2!-&$!#'%+$%&$!3),,2$!:'h3&!g!/,$%#:'#0X!i>#+!3),$2-%5! 6&$!5%26&$!&%!6&$!'#(()'%$!-+5$!g!->#3%+@+%5!/,$%#:'#0!&%!$),!+0(#3%!$2'!-&!0#'395!6&!->#'%U! 3)00&! 3&-2+! 6&! ->#$$2'&2'! L+$3)_! [g! '&%')2@&'! &,! #,,&_&\X! i>#+! #2$$+! &2! ->)33#$+),! 6>+,%&''):&'! -&$! *),6#%&2'$! 6&! -#! :#-&'+&! B&')2+--),U! I&,f#0+,! B&')2+--),! &%! 4%5(9#,+&! B#'0),U!#*+,!6&!'&32&+--+'!-&2'$!+0('&$$+),$!&%!->+0(#3%!<2>2,!%&-!'5$&#2!()2@#+%!#@)+'!$2'!

(15)

! ! )$!

2,&! :#-&'+&X! b,*+,U! ()2'! +--2$%'&'! 0#! '&39&'39&U! f&! 0&! $2+$! 5:#-&0&,%! '5*5'5&! g! 6>#2%'&$! 3)0(%&$! /,$%#:'#0! <2+! ,&! *#+$#+&,%! (#$! (#'%+&! 6&! 0),! 3)'(2$! .! &,%'&! #2%'&$U! 3&-2+! 6&! ->#'%+$%&!c0#-+#!T-0#,X!

;>5%#,%!(#$!$(53+#-+$%&!6&!->9+$%)+'&!6&!->#'%U!f&!0&!$2+$!#((2K5&!$2'!-&$!53'+%$!6&!3'+%+<2&$U! $)3+)-):2&$U! &%! #0#%&2'$! 6>#'%! [L&+,+39U! ")2'&#2U! 4#:)%U! l2:+&'U! 895-KU! l)2'0&,%'#2_U! &,%'&!#2%'&$\!()2'!f2$%+*+&'!0&$!(')()$X!!

T,&!*)+$!&,!%k%&!3&$!('53+$+),$U!,)2$!65F2%&'),$!(#'!2,&!('&0+d'&!(#'%+&!3),$#3'5&!g!-#! '&3'5#%+),! 6&! ->53)$K$%d0&! 6&! ->#'%! <2>&,:&,6'&! /,$%#:'#0U! @+#! 2,&! +0#:&'+&! 62! 'k@&! &%! 2,&!(')0&$$&!6&!<2)%+6+&,!&_%'#)'6+,#+'&X!;)2$!0&,%+),,&'),$!-&$!,)2@&--&$!('#%+<2&$!62! 0#'395!6&!->#'%!&,:&,6'5&$!(#'!-&!6+:+%#-!C!-&$!@&,%&$!&,!-+:,&U!-&$!(-#%&*)'0&$!5623#%+@&$!C! &%! 6+'),$! 3)00&,%! ->2%+-+$#%+),! 6&! '5$&#2_! $)3+#2_! $>+,$3'+%! 6#,$! 3&! 3),%&_%&X! ;)2$! #,#-K$&'),$! -&$! 3#'#3%5'+$%+<2&$! 6>/,$%#:'#0! &%! %&,%&'),$! 6&! 3)0('&,6'&! &,! <2)+! -#! 0#$$+*+3#%+),!6&$!+0#:&$!()2$$&!-&$!2%+-+$#%&2'$!g!K!(#'%#:&'!-&2'!<2)%+6+&,!$2F-+05X!;)2$! )F$&'@&'),$!-#!*)'0&!6>+,%&'%&_%2#-+%5!<2+!'5:+%!-&$!539#,:&$!6&$!#3%&2'$!6&!->#'%!$2'!3&%%&! (-#%&*)'0&U!&%!650),%'&'),$!&,!<2)+!+-!&,!'&3'5&!->53)$K$%d0&X!

p#!$&3),6&!(#'%+&!$&'#!3),$#3'5&!#2_!$+,:2-#'+%5$!6&!->#'%+$%&!3),%&0()'#+,!$2'!/,$%#:'#0! .! 6>#'%+$%&! ')0#,%+<2&! g! !")(&*7&-<3)(+,-".U! +-! $&! *#+%! (')0)%&2'! 6>2,&! 3&'%#+,&! !"2,8&,(-"

#%#,8)*(-".! &%! %'#,$:'&$$&! -&$! ,)'0&$X! p>#--5:)'+&! 53),)0+<2&! 6&! ->!")(&*7&-<3)(+,-".!

,)2$! *#+%! (&,$&'! <2>+-! *#+%! $2'! /,$%#:'#0! $),! !"7-8@<:()45*4'".! :'h3&! #2! !"7&%(H&-88*4'".! 3),$%+%25!(#'!-&$!+0#:&$!<2>+-!(2F-+&X!;)2$!0),%'&'),$!&,!<2)+!->#'39+%&_%&!62!'5$&#2!&$%! (')(+3&! g! 2,&! 056+#%+),! 6&! -&2'! ('#%+<2&! #'%+$%+<2&! C! ,)2$! @&''),$! #2$$+! <2&! ->#'%+$%&! 3),%&0()'#+,!$&0F-&!$>&,!65%#39&'!&%!&,!65(#$$&'!-&$!'d:-&$X!

b,*+,U!-#!6&',+d'&!(#'%+&!#F)'6&'#!-&$!%K'#,,+&$!6&!-#!@+$+F+-+%5!&,!('+$&!$2'!/,$%#:'#0U!&%!-#! 056+#%+$#%+),!g!%)2%!('+_!<2+!$&0F-&!#:+'!#2!65%'+0&,%!6>2,&!650)3'#%+$#%+),!6&!->#'%X!p&$! 3-#$$&0&,%$! )**+3+&-$! 62! 0#'395! 6&! ->#'%! $),%! #2$$+! $%'+3%$! <2&! 3&2_! 6>/,$%#:'#0! C! -&$! 39+**'&$! ,&! %')0(&,%! (#$X! p&$! +0#:+,#+'&$! 6>/,$%#:'#0! $2::d'&,%! ->)(()'%2,+%5! 6>2,&! ,)2@&--&! 056+#%+),! #@&3! -&! (2F-+3! 6&! 3&$! #'%+$%&$! C! &%! ->)0F'&! 62! ;&%! c'%! '&,*)'3&! 3&%%&! +65&X!p&$!*#,$!&%!-&$!*)--)a&'$!()2''#+&,%!K!%')2@&'!2,&![(&%+%&\!(-#3&X!G)2'%#,%U!-#!-):+<2&! 62!!"5%4_2%4&(-<5%4".!6&!"#2$$!()2$$&!g!2,!'&,*&'0&0&,%!62!0),6&!6&!->#'%!.!+-!*#2%!-+M&'! -&$! 3)0(%&$o! <2+! 3)0(%&,%X! ;)2$! @&''),$! <2&! 3&$! 3)6&$! (#'%+32-+d'&0&,%! $%'+3%$! @),%! F+&,!#2C6&-g!62!$+0(-&!)2%+-!<2&!3),$%+%2&!/,$%#:'#0X!

!"/-7" 7%28-7" &%3:-4&1" 8-7" 7&)&,-7" 7-" :(*7-4&1" -3#%(&)4&" 50,4" 7-,8" 2%,#" 4%7" *88,7*%47" 7;2,8)*(-7D" /0*3)'-1" )6-2" 7-7" 4%,6-88-7" 3%5)8*&;71" 40-7&<-88-" #)7" -4" &()*4" 5-" 4%,7" @)*(-" :)72,8-("5)47",4"3%45-"5-"6-(&*'-"7)47"#%*4&7"5-"(-#Y(-"4*"(;@;(-42-7"7&):8-7"L"`)2-"A" 5-" &-87" :%,8-6-(7-3-4&7" 7,('*77-4&" )8%(71" 5)47" 80-@@(%*1" 8-7" @*',(-7" 5," 72;4)(*%" 2)&)7&(%#$-".OaU!53'+@#+%!I&',#'6!B&-)39&X!!!

4+! /,$%#:'#0! &$%! *#+%! 6>+0#:&$! &%! 6&! !"4%,6-88-7" 3%5)8*&;7".U! +-! $&0F-&! ()2'%#,%! (-&+,! 6&!

!"(;@;(-42-7"7&):8-7".!&%!6&!!"#%*4&7"5-"(-#Y(-".X!8&,%),$!6&!-&!@5'+*+&'X!

!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

(16)

! ! )%! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !

(17)

! ! )&!

.-%)'#!/!D!E-!%#&%B-)',(!9#!<AB&,*F*)G$#!9#!<A-%)!H'-!;(#!'$-=#%'#!9;!%IH#!

#)!;(#!@%,$#**#!9#!:;,)'9'#(!#J)%-,%9'(-'%#!

! ! ! 4+!/,$%#:'#0!$>#**+39&!3)00&!-&!,)2@&-!)2%+-!g!-#!0)6&!6#,$!-&$!0),6&$!6&!->#'%!e! &%U!#33&$$)+'&0&,%U!3)00&!$2(()'%!6&!3)002,+3#%+),!e!3>&$%!<2&!->2%+-+$#%+),!62!'5$&#2! $>+,$3'+%!6#,$!2,!3),%&_%&!<2+!-2+!&$%!(')(+3&X!p&!0#'395!6&!->#'%!$>&$%!6+:+%#-+$5U!-&$!#'%+$%&$! $),%!6&@&,2$!6&$!0#'<2&$U!&%!/,$%#:'#0U!%)2'!g!%)2'!('5$&,%5!3)00&!(-#%&*)'0&!()2'!-&$! 3'5#%+*$! )2! 3)00&! 2,! 0#:+<2&! )2%+-! 6&! $2F-+0#%+),! 62! F#,#-U! '5(),6! #2_! F&$)+,$! 6&! @+$+F+-+%5X!!

!

1>&$%!F+&,!6&!@+$+F+-+%5!6),%!+-!$>#:+%!.!->?2@'&!,&!*#+%!#'%!<2&!-)'$<2>&--&!%')2@&!$),!(2F-+3X! c@&3!/,%&',&%!&%!-&$!'5$&#2_!$)3+#2_U!+-!(#'#t%!$+0(-&!g!('&0+d'&!@2&!6>#--&'!g!-#!'&,3),%'&! 6&! 3&-2+C3+! &%! 6>&_()$&'! $#! @+$+),! 62! 0),6&! (#'! $),! #'%X! p&$! #'%+$%&$! (&2@&,%! 6+$()$&'! :'#%2+%&0&,%!6&!!"#)'-7".!(&'$),,&--&$U!6&!!"2%3#&-7".U!6&!!"#(%@*87".1!()2'!&_()$&'!-&$! 0)+,6'&$!(#'3&--&$!6&!3&!<2+!3),$%+%2&!-&2'!?2@'&X!!

!

G)2'%#,%U! -&$! 39)$&$! ,&! $&! *),%! (#$! $+! $+0(-&0&,%X! p>#'%! &$%! 2,! !"3%45-".! '5:+! (#'! 6&$! 3)6&$U!&%!$2'@&+--5!(#'!-&$!F#''+d'&$!<2+!&,!(')%d:&,%!-&$!(')%#:),+$%&$X!B>#F)'6U!-&!(2F-+3! <2>+-! *#2%! '&,3),%'&'! ()2'! *#+'&! c'%! ,>&$%! (#$! 6&$! 0)+,6'&$! e! &%U! $2'! /,$%#:'#0U! +-! *#2%! $&! *#+'&! '&3),,#t%'&! (#'0+! -#! 0#$$&! 6&$! 2%+-+$#%&2'$" !"3)*47&(-)3".X! /-! ,&! $2**+%! (#$! #-)'$! 6>&_()$&'!6&$!(9)%)$!6&!$&$!?2@'&$!.!+-!*#2%!(#'@&,+'!g!%'#,$0&%%'&!%)2%!$),!2,+@&'$X!I+&,! $)2@&,%U!3&-#!(#$$&!(#'!->&_()$+%+),!6&!$)+!.!65$)'0#+$U!->?2@'&!&$%!+,6+$$)3+#F-&!6&!$),! #2%&2'X! p>#'%+$%&! &,*+,! ,>&$%! (#$! $&2-! g! $>&_()$&'! $2'! -#! (-#%&*)'0&!.! -&! 0),6&! 6&! ->#'%! :'#@+%&!#2%)2'!6&!-2+U!(2+$<2&!-&$!3)00+$$#+'&$U!-&$!3'+%+<2&$U!-&$!:#-&'+$%&$U!6+$()$&,%!&2_! #2$$+!6&!-&2'$!(')('&$!3)0(%&$!/,$%#:'#0X!p>#'%+$%&!6)+%!3)0()$&'!#@&3!3&$!#3%&2'$!()2'! %+'&'!$),!5(+,:-&!62!f&2U!&%!$>+,$3'+'&!6#,$!-#!,)2@&--&!,)'0&!<2&!3),$%+%2&!-&$!5,),35$!6&! ->#'%!$2'!-&$!'5$&#2_!$)3+#2_X!!

!

4+! 3&$! 3)0(%&$! $),%! @+'%2&-$U! +-$! '&*-d%&,%! %)2%&*)+$! 2,&! 3&'%#+,&! *)'0&! 62! '5&-X! b%U! $+! -&$! +0#:&$!(&2@&,%!(#'*)+$!$&0F-&'!()$5&$U!&--&$!,&!$),%!(#$!%)2%&*)+$!%'2<25&$X!q2&!$+:,+*+&! 6),3!->&_()$+%+),!62!<2)%+6+&,!62!0),6&!6&!->#'%U!6>9#F+%26&!$+!$&3'&%U!#2_!K&2_!62!:'#,6! (2F-+3!D! ! ! ! ! ! ! ! ! ! ! !

(18)

! ! )'!

/K! L;-(9!<#!$,(9#!M>#%$BK!9#!<A-%)!%#(&,()%#!<-!H')%'(#!2(*)-=%-$!

! !

=!I4-"@%*71"8%(7"50,4-"6-4&-"5-"3)b&(-7")42*-47"2$-P"J%&$-:H071"4%,7"

;&*%47" )@@,:8;7" 50),&%2%88)4&7" :8)4271" '*')4&-7+,-71" 7,(" 8-7+,-87" @*',()*&"8-"3%&"!"#(-77-".D"/)"$%4&-E"C)47"8)"$*;()(2$*-"5-"2-"3%45-" 5-"80)('-4&"-&"5,"#%,6%*(1"8-7"=%,(4)8*7&-7"@*',(-4&"A"80;6*5-42-"&%,&"-4" :)7D" c4" ()##%(&-" +,0,4" 2%88-2&*%44-,(" )" 5*&" ,4" =%,(" A" #(%#%7" 50,4" =%,(4)8*7&-" !"*8" -7&" 6()*3-4&" 3)8" #)H;1" 20-7&" ;6*5-4&1" *8" 40)" #)7" )22Y7" ),B" '-47" +,*" 2%3#&-4&" -&" -4" -7&" (;5,*&" A" 5-7" 3*-&&-7" #%,(" )8*3-4&-(" 7-7")(&*28-7D"W-8)"4-"5%*&"#)7"\&(-"5(?8-"5-"&%,(4-("),&%,("5-"8)"&):8-" 5-7"'()457"+,)45"%4"H"-7&"#)7"*46*&;"."APrX!!

! !

p#! %#F-&! 6&$! :'#,6$U! 05%#(9)'&! ()0(&2$&! &%! '5@5-#%'+3&! 6>2,! 0),6&! $)3+#-! #2_! 3)6&$! '5:+$!(#'!-&!()2@)+'!&%!-#!,)%)'+5%5!D!B&$!!"=%,(4)8*7&-7".!#2_!=!%4"()##%(&-"AU!),!&$<2+$$&! '#(+6&0&,%! -&$! 3),%)2'$! 6&! !"2-" 3%45-" 5-" 80)('-4&".D! T,! 0),6&! 6&! f&%! $&%! &%! 6&! (#+--&%%&$!D! b,! (#'%+&U! )2+! C! ()2'%#,%U! 3>&$%! F+&,! 6>#'%! 6),%! +-! $>#:+%X! p#! *'),%+d'&! &,%'&! ->+,$%+%2%+),,&-U!-&!$#3'5U!&%!-&$!0),6#,+%5$!(&2%!$&0F-&'!#0F+:2{U!%#,%!->+0#:+,#+'&!6&!->#'%! &%!6&$!?2@'&$!<2>&--&!(')62+%!&$%!@#$%&X!8#,%n%!&$%95%+<2&U!50)%+),,&--&U!05%#0)'(9)$&U! ->+00#%5'+#-+%5!6&$!?2@'&$!6>#'%!#!()2'%#,%!2,!('+_X!b%!(#$!6&$!0)+,6'&$X!!

!

4+!-&$!?2@'&$!<2&!->),!(&2%!#60+'&'!6#,$!-&$!02$5&$!)2!-&$!*)+'&$!<2+!$&!02-%+(-+&,%!#2_! <2#%'&! 3)+,$! 62! 0),6&! [3&$! 6&',+d'&$! 5%#+&,%! #2! ,)0F'&! 6&! QO! &,! NOO`! C! &,! NOPZU! ),!

()2@#+%! &,! 3)0(%&'! PWOPW\U! #((#'%+&,,&,%! ()2'! 3&'%#+,&$! g! 2,! -#':&! (#%'+0)+,&! 32-%2'&-!

&_()$5! -+F'&0&,%! #2_! K&2_! 6&$! 32'+&2_U! &--&$! 3),$%+%2&,%! #2$$+! 2,! ('53+&2_! F+&,! <2+! $&! @&,6!)2!$&!('k%&!&,%'&!02$5&$U!:#-&'+&$U!&%!3)--&3%+),,&2'$U!*#+$#,%!#2:0&,%&'!$#!3n%&!&%! -#!,)%)'+5%5!6&!$),!#2%&2'X!1&-#!&$%!&,!(#'%+&!6s!g!-#!('+@#%+$#%+),!6&!02$5&$!(2F-+3$!&%!6&! -&2'! 65(&,6#,3&! #2_! 6),#%&2'$X! 1>&$%! 2,! 0),6&! 6)2F-&! )2! 0k0&! 02-%+(-&U! 6),%! -&$! '&$$)'%$!$),%!3)0(-&_&$!g!#(('+@)+$&'!.!6>#F)'6!3#'!+-!K!#!-&!=!3%45-".!6&!->#'%U!&%!+-!K!#!-&! =!3)(2$;".!6&!->#'%X!p&!('&0+&'!$&'#+%U!$&-),!-&!$)3+)-):2&!L)a#'6!4X!I&3M&'U!=!,4"(;7-),"

5-" 2%%#;()&*%4" )," 7-*4" 5,+,-8" 8-7" 3\3-7" #-(7%44-7" 2%%#Y(-4&" 5-" 3)4*Y(-" (;',8*Y(-" -&" +,*" (-8*-" 5%42" 8-7" #)(&*2*#)4&7" 7-8%4" ,4" %(5(-" ;&):8*" A! )2! =!8-" #(%5,*&" 50,4-" )2&*%4" 2%88-2&*6-"ANOU!$)+%!-&!'&:')2(&0&,%!6&!%)2$!-&$!#3%&2'$!6&!->#'%!&,!@2&!6>2,&!3'5#%+),U!6>2,&!

(')623%+),U!6>2,&!@#-)'+$#%+),X!8#,6+$!<2&!-&!$&3),6!'&('5$&,%&'#+%!-&!0#'395U!$2'!-&<2&-! -&$! ?2@'&$! 6>#'%! $>539#,:&,%! &%! $&! ,5:)3+&,%! e! $K0F)-&! 6&! -#! *+,#,3+#'+$#%+),! 6&! ->#'%X! B5fgU!-&$!*'),%+d'&$!$&!F')2+--&,%X!!

!

p>#'%!&%!-&!(&%+%!0),6&!<2+!->&,%)2'&!#!%)2f)2'$!5%5!$#3'5X!=!C-"80)4&*+,*&;"A"4%7"=%,(71"80)(&"

@,&" 7*'4-" 5-" #%,6%*(" -&" 5-" (*2$-77-" d" -4" &;3%*'4)'-" #)(" -B-3#8-" 809&)8*-" 5-" 8)" e-4)*77)42-"ANPX! p&$! 053d,&$! 5%#+&,%! ()2'! -#! (-2(#'%! 6&$! #'+$%)3'#%&$U! $)20&%%#,%!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! )( !W46,;.6;!\-,-47!K&7*"0$3/,"1-%,"4&"($%1&"1&"4;-/*7!8E0.06;F!Q+.,1B1;.7!"<))7!"(":7!:"(@! )N!E1!36;0Ai!Q;;17!!">-"/3?&"=&/,"4;-/*":$%*&(7$/-)%J"3%"=),-.&"1&"4-"($%1)-4),-*)$%"57!\5-.17!"<)#7! 4..:=>>???@F5-.1@M,>F.6,J>'N#)&>-,.2A6;.1B:6,-0;2M0-A2B6;E0-50F-.06;2A-F0;6!! "< !*1Ai1,![6?-,E7!>&,"($%1&,"1&"4;-/*7!K5-BB-,06;7!"<<&7!#'N:@!:@!NN@! ")!*,1.!k1-;2R6n57!/6+,1-+!R-.4-5017!>;-/*J"4;-/.&%*"&*"4-"($%1)-4),-*)$%7!Tl[-,B-..-;7!"<)#7!)((:7!:)"$@!

(19)

! ! )(!

->#3%+@+%5!6&$!#'%+$%&$!g!-#!3)00#,6&!(2F-+<2&U!&%!,)%#00&,%!g!3&--&!6&!->b:-+$&X!c2!3)2'$!

6&$! Pr&! &%! PW&! $+d3-&$U! -&$! #'%+$%&$! (#'@+&,,&,%! g! $>&,! 50#,3+(&'U! &%! '&@&,6+<2&,%! 2,&!

#2%),)0+&! 6#,$! -&2'$! 39)+_! #'%+$%+<2&$X! p>#'%+$%&! &$%! '&3),,2! 3)00&! 2,&! !"@*',(-" 5-"

'()45-,(" 3%()8-" -&" *4&-88-2&,-88-1" 6%*(-" 2%33-" ,4" 3)'-1" ,4" ',*5-" *47#*(;".NN! &%! &$%! +,%')62+%! 6#,$! -&$! $#-),$! 0),6#+,$X! /-! *'5<2&,%&! ->5-+%&X! 4#! '&('5$&,%#%+),! $)3+#-&! $>&,! %')2@&!#-)'$!F)2-&@&'$5&!.!6>2,&!*+:2'&!0#26+%&!&%!%)'%2'5&!g!2,&!#2%'&!*#+%&!6&!('&$%+:&!&%! 6&! '&3),,#+$$#,3&U! !"80)(*7&%2()&*7)&*%4" 5-7" 2(;)&-,(7".! 3),3'5%+$5&! #2$$+! F+&,! (#'! !"8-,("

(-2%44)*77)42-" #)(" 8)" $),&-" 7%2*;&;" +,-" 8-,(" (-6-45*2)&*%4" *47%8-4&-" 50,4-" (;:-88*%4" :%$Y3-".U!*#+%!&,%'&'!->#'%+$%&!#2!$&+,!6>2,!0),6&!6>#@&'%+$X!!

!

8)2%&*)+$U! -&$! 02-%+(-&$! 3)2'#,%$! <2+! ),%! %'#@&'$5! ->9+$%)+'&! 6&! ->#'%! -2+! ),%! +0(2-$5! 6+**5'&,%&$! +65)-):+&$U! '&0&%%#,%! %)2f)2'$! &,! <2&$%+),! $#! ,#%2'&U! &%! %&,%#,%! $)2@&,%! 6&! $>539#((&'! 6&! 3&%%&! 0#+,0+$&! 62! ()2@)+'! ()2'! $&! '#((')39&'! 62! :'#,6! (2F-+3! @+#! ->&_(5'+0&,%#%+),X!c+,$+U!$+!6d$!-&$!#,,5&$!PW^OU!!"80%:=-&"2;5)*&"8-"#)7"A"80*5;-"-&"80)(&-@)2&" ),"(-)5H<3)5-"%,"),"2%3#%(&-3-4&".NZU!3>&$%!6>2,!3n%5!-#!,#%2'&!6&!->#'%!<2+!$>&,!%')2@&! F)2-&@&'$5&!C!6&!->#2%'&U!$),!#33&$$+F+-+%5X!1&$!(')F-50#%+<2&$!6&0&2'&,%!3&,%'#-&$!&,!#'%! 3),%&0()'#+,X!/-!+,%&''):&U!&,%'&!#2%'&$U!->+00#%5'+#-+%5!6&!->#'%U!-#!-5:+%+0+%5!6&!->#'%+$%&U!-&$! *'),%+d'&$!&,%'&!-&$!6+**5'&,%&$!6+$3+(-+,&$X!! !

B>#2%'&$! *#3%&2'$! $),%! 5:#-&0&,%! g! ('&,6'&! &,! 3)0(%&X! p&! 0#'395! 6&! ->#'%! #!

!"5()3)&*+,-3-4&" 2$)4';" MEN1" *8" )" -B#8%7;" -4" &-(3-7" 5-" #)(&*2*#)4&71" 50)('-4&1" -&" 5-" #(%@*8"G" *8" )" :*@,(+,;" -4&(-" 5-,B" 2)&;'%(*-7" M2%33-(2*)8-7" -&" 5*72,(7*6-7N1" 8-" 2,()&-,(" )" 5;#)77;"8-"2(*&*+,-"50)(&1"-&"5-7"@%(3-7"-&"5*72%,(7"5-"4%4<)(&"7%4&"5-6-4,-7"5-7"#)(&*-7" *4&;'()4&-7"5-"8)"#()&*+,-")(&*7&*+,-".N]X!p>#'%!&$%!6&@&,2!!"2%4&-3#%()*4"AU!&%!-&!0#'395!#! &_(-)$5X!Bs!#2_!(95,)0d,&$!6&!:-)F#-+$#%+),U!g!->2%+-+$#%+),!6>/,%&',&%!&%!g!->&_(-)+%#%+),!6&! $&$!(')0&$$&$X!7,!(#'-&!#2f)2'6>92+!6>2,!0#'395!<2+!$&!:-)F#-+$&!&%!<2+!$&!6+:+%#-+$&X!p#! (-#$%+3+&,,&! c,,&%%&! "&$$#:&'U! +,%&''):5&! (#'! c,,&! "#'%+,Cl2:+&'! $2'! ->5@)-2%+),! 62! 0#'395! 6+$#+%! <2>!"%4" ()2%4&-" +,-" 8-7" 6*7*&-,(7" #$%&%'()#$*-4&" 8-" 2)(&-8" 50,4-" ],6(-" -&"

6%4&"&%,&"5-"7,*&-"7,(">(&4-&")6-2"8-,("#%(&):8-"#%,("6%*("8)"2%&-"5-"80)(&*7&-".N`X!"#+$!<2&! $+:,+*+&!#2!f2$%&!3&%%&!6+:+%#-+$#%+),!D!! ! ! !

-K! EA-%)N!&#!O!$,(9#!9A-H#%)'*!P!:;'!*#!9'=')-<'*#!

! ! !"/-7"`()4f)*7")*3-4&"80)(&"2%4&-3#%()*4"g".U!%+%'#+%!-&!0&,$2&-!I&#2_Cc'%$!"#:#w+,&!

&,! NOOQU! 6>#('d$! -&$! '5$2-%#%$! 6>2,&! &,<2k%&! 3)00#,65&! g! ->+,$%+%2%! IVcN^X! 42'! -&$! W`P!

(&'$),,&$!+,%&''):5&$U!^Q|!6+$#+&,%!'&$$&,%+'!6&!-#!!"2,(*%7*&;"."*#3&!g!->#'%!#3%2&-U!&%!ZN|! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ""!T0:6L1.FiJ!j0551F7!\1,,6J!k1-;7!>E&,*A?*),-*)$%"13"($%1&F"G)=/&"<"4EH.&"13":-7)*-4),(&"-/*),*&7!S-,0F7!8E0.06;F! j-550B-,E7!A655@!U![6,F!Fb,01!36;;-0FF-;A1!Z7!"<)#7!$N#!:@! "#!*,1.!k1-;2R6n57!/6+,1-+!R-.4-5017!>;-/*J"4;-/.&%*"&*"4-"($%1)-4),-*)$%7!Tl[-,B-..-;7!"<)#7!)((:7!:N@! "$ !j,6;5+;E!/150FF-7!B$%*&(7$/-/L"-/*"-%1"1).)*-4":34*3/&7!`6+.51EC17!"<)&7!"#<:@! "%!/-,.0;2K+C01,!Q;;17!M/*),*&,"C"&%*/&*)&%,7!QA.1F!\+E!8E0.06;F7!"<)$! "&!j05F6+5!\-,-47!>-"I).3/&":$%*&(7$/-)%&"1&"4;-/*),*&"N1?,O&%.-.?"C">&":-,"1&"4;M/*"P&4-*)$%%&47!_;0L1,F0.b!T0],1!E1! *,+91551F!>!\A01;A1F!\6A0-51F7!"<<&7!4..:=>>C,-:@+5]@-A@]1>?:2A6;.1;.>+:56-EF>"<)"><">/1o33o()B60,12\6A06@:EM7! )#%:7!:%%@!

(20)

! ! )N!

6&"!"80-4&$%,7*)73-".X!p&!'56#3%&2'!&,!39&*!6&!-#!'&@2&U!l#F'+3&!I)2$%&#2U!3),3-2#+%!<2>+-! $>#:+$$#+%! 6>2,! ="(-46-(7-3-4&" 5-7" '%h&7" +,*" &()5,*&" ,4-" #(%@%45-" 3,&)&*%4" 5-" 8)"

7%2*;&;".NQ!e!2,&!3),3-2$+),!(&2%Ck%'&!2,!(&2!%')(!9h%+@&!D!4>+-!'&0#'<2#+%!<2&!3&%!+,%5'k%! %)239#+%! %)2%&$! -&$! 3-#$$&$! $)3+#-&$! &%! $>#33&,%2#+%! 39&w! -&$! PrCZ`! #,$U! 653-#'#,%! 0k0&!

<2>+-! ()2''#+%! $>#:+'! 6>2,&! !"(-6)42$-" 5," #-,#8-" 2%4&(-" 80;8*&-".NrU! 2,&! -#':&! (#'%!

6>+,3)0('59&,$+),!&%!0k0&!6&!05('+$!$2F$+$%&!&,3)'&X!^^!|!6&$!(&'$),,&$!+,%&''):5&$! #@)2#+&,%!-&2'!+,3)0('59&,$+),!*#3&!g!-S#'%!#3%2&-!&%!ZW!|U!-&2'!+,6+**5'&,3&X!pS+,%5'k%!()2'! -&! 3),%&0()'#+,! ('):'&$$&U! 0#+$! +-! '&$%#+%! -)+,! 6&''+d'&! !"8i)(&" 3%5-(4-".! [&,%'&! PWOO! &%!

PW^O\!&%!!"8i)(&")42*-4".1!<2+!%)%#-+$#+&,%!]r!|!6&$!$2**'#:&$NWX!

!

4+! -&$! 05%9)6&$! 6&! $),6#:&! $),%! g! '&0&%%'&! &,! (&'$(&3%+@&! [W`P! (&'$),,&$! ),%! 5%5! +,%&''):5&$! =!&,! *#3&CgC*#3&!A! $&-),! -#! 05%9)6&! 6&$! <2)%#$\U! ->#0(-&2'! <2>#! ('+$! ->#'%! 3),%&0()'#+,! ,&! (&2%! (#$! k%'&! ,+5!.! +-! $&0F-&! k%'&! 6&@&,2! @5'+%#F-&! (95,)0d,&! 6&! $)3+5%5U!<2+!<2&$%+),,&U!39)<2&U!65'#,:&o!&%!'#(()'%&!F&#23)2(!6>#':&,%X!! ! p>#'%!'&('5$&,%#+%!-&!:)s%U!-#!,)F-&$$&U!&%!-#!6+$%+,3%+),!C!+-!,&!$&0F-&!#2f)2'6>92+!(-2$!#@)+'! 6&!-+0+%&$U!&%!,&!(-2$!$#@)+'!6+$%+,:2&'!-&!F),!62!0#2@#+$!:)s%!e!0k0&!$+!&,!#'%U!!"&%,&"-7&" 7,:=-2&*@".X!b%U!$+!3>&$%!%)2f)2'$!2,&!5-+%&!<2+!#!#33d$!g!3&!0),6&!*&'05U!3&!,>&$%!(-2$!3&--&! 6&!-#!,)F-&$$&U!0#+$!6&!(-2$!&,!(-2$!6&!3&2_!<2>),!#((&--&!(5f)'#%+@&0&,%!-&$!!"4%,6-),B" (*2$-7".D!p>?2@'&!6>#'%!'&('&,6!2,!$%#%2%!6&!F+&,!6&!3),$)00#%+),!6&!-2_&!v!2,!0)K&,!6&! $>#**+'0&'!&%!6&!(#'#6&'X!! ! i26+%9!I&,9#0)2CL2&%!&$%+0&!<2&!->)2@&'%2'&!g!6&!,)2@&#2_!0#'395$!<2+!#!&2!-+&2!6#,$! -&$! #,,5&$! PWrO! ,>#! 3),$+$%5! <2>g! !")&&*(-(" 5-" 80)('-4&" %Z" +,0*8" 7%*&1" +,*&&-" A" (-3-&&(-" -4"

+,-7&*%4" 8-7" 2)4%47" 5," :%4" '%h&".ZOX! /-! #! #+,$+! #%%+'5! 6&! ,)2@&#2_! !"2%88-2&*%44-,(7<

*46-7&*77-,(7".!)'+:+,#+'&$!6&$!(#K$!50&':&,%$U!62!")K&,!g!->b_%'k0&!7'+&,%!&,!(#$$#,%!

(#'!3&'%#+,$!(#K$!6>c05'+<2&!62!426X!p&!0#'395!6&!->#'%!&,!19+,&U!,)%#00&,%U!#!#+,$+!5%5! @2! 3)00&! 2,! &-6)'#6)! ()2'! -&$! :#-&'+&$! &%! -&$! 0#+$),$! 6&! @&,%&X! b,! NOPOU! -&! (#K$! &$%!

6&@&,2! -#! ('&0+d'&! (-#3&! 6&! 0#'395! #2! 0),6&! ()2'! -&! l+,&! c'%ZP! [&,! )(()$+%+),! g!

->=!)##8*-5")(&"A!6&$!)Ff&%$!653)'#%+*$!&%!*),3%+),,&-$\X! !

p>#'%! (&'6#+%C+-! $),! $%#%2%! 6>?2@'&! &%! $#! $2(5'+)'+%5! #'%+$%+<2&! ()2'! 3),@&':&'! @&'$! 3&-2+! 6>+,@&$%+$$&0&,%! &%! 6&! @#-&2'! '&*2:&!D! 8#,6+$! <2&! -#! 3'+$&! 6&$! $2F('+0&$! 6&! NOOrCNOOW! '&0&%%#+%! &,! <2&$%+),! %)2%! -&! 0)6d-&! $(532-#%+*! 6&$! 0#'395$! *+,#,3+&'$! &%! &,%'#t,#+%! 2,! M'#39!$#,$!('5356&,%U!-&!0#'395!6&!->#'%U!-2+U!()2@#+%!$&!%#':2&'!6&!(#'#6&'!f)K&2$&0&,%X! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! "' !j05F6+5!\-,-47!>-"I).3/&":$%*&(7$/-)%&"1&"4;-/*),*&"N1?,O&%.-.?"C">&":-,"1&"4;M/*"P&4-*)$%%&47!_;0L1,F0.b!T0],1!E1! *,+91551F!>!\A01;A1F!\6A0-51F7!"<<&7!4..:=>>C,-:@+5]@-A@]1>?:2A6;.1;.>+:56-EF>"<)"><">/1o33o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k+E0.47!M/*"W3,)%&,,7!8E0.06;F!QFF6+50;17!"<<'7!)#)!:7!:)"@! #) !*1;4-B6+!K,-;m60F17!!">-":34*3/&"&%*/&"7/$*&:*)$%"&*"7&/*3/V-*)$%"57!:)#7!E-;F!p*,1.!k1-;2R6n57!/6+,1-+!R-.4-5017! >;-/*J"4;-/.&%*"&*"4-"($%1)-4),-*)$%7!Tl[-,B-..-;7!"<)#7!)((:@q!

Références

Documents relatifs

Il convient alors de s’interroger sur le discours de l’exposition non seulement la manière dont ce discours est transmis et véhiculé (scénographie, discours

2012 Exposition à la BIC Biennale Internationale d' Art Contemporain de Casablanca / Cathédrale du Sacré Cœur de Casablanca - Casablanca, Maroc.. 2011 Exposition 4 Emme

2012 Exposition à la BIC Biennale Internationale d' Art Contemporain de Casablanca / Cathédrale du Sacré Cœur de Casablanca - Casablanca, Maroc.. 2011 Exposition 4 E^me

A l’occasion des donations de l’artiste italien contemporain Giuseppe Penone, redécouvrez ses œuvres présentes dans les collections du Musée d’arts de Nantes -

C’est ensuite le médecin, autre figure du pouvoir, qui traite le Voyageur de « chétif individu » (p. Ce chétif individu n’en part pas moins seul pour une randonnée à pied dans

Le Producteur ayant opté pour le paiement initial des modes d’exploitation visés aux C/, D/, E/, F/ de l’article II, l’artiste percevra, en contrepartie de

Pour créer et programmer une publication, il vous faudra suivre les étapes suivantes : Cliquez sur le bouton « Créer une publication », vous aurez le choix de l’endroit

Dans notre cas, les RKOI créent leur identité par le biais de mises en scène de soi aux attributs particuliers de la richesse (liasses de billets, yachts, voitures de luxe,