IQWXGTPCPEGKPVGTPCVKQPCNG
#NCKP.G)QWTTKGTGE
C OQFG nKPVGTPGV RCUUG .G OQOGPV GUV FQPE DKGPXGPW RQWT KPVGPUKHKGT NC TÃHNGZKQP UWT NOCTEJKVGEVWTG HWVWTG FGU PQWXGCWZ TÃUGCWZ 2QWT EQORTGPFTG EG EJCPVKGT NOCPCNQIKG CXGE WP PQWXGCW EQPVKPGPV L NG UKZKÂOG EQPVKPGPV L TGUVG NOKOCIG NC RNWU RCTNCPVG KN HCWV RGPUGT QTICPKUGT GV OGVVTG GP RNCEG FCPU NOGURCEG PWOÃTKSWG WPG IQWXGTPCPEG SWK PG UG EQPÁQKV ´ VGTOG SWOCW PKXGCW FG NC EQOOWPCWVÃ KPVGTPCVKQPCNG
.GUO[VJGUHQPFCVGWTU
2JÃPQOÂPGCWZOWNVKRNGUHCEGVVGUNOKPVGTPGVHQWTPKVWPVGTTCKPFOÃNGEVKQP RQWTFGUKFÃGUTGÁWGU2CTOKEGUO[VJGUTGUUQTVGPVRCTVKEWNKÂTGOGPV
LNOCHHKTOCVKQPUGNQPNCSWGNNGNOKPVGTPGVUGTCKVWPRWTRTQFWKVFGNOKPKVKCVKXG RTKXÃG QT CWUUK DKGP NG PGV SWG NC VQKNG YGD FÃEQWNGPV FKTGEVGOGPV FG RQNKVKSWGU RWDNKSWGU &CPU NG RTGOKGT ECU EGNNG FW FÃRCTVGOGPV COÃTKECKP FG NC FÃHGPUG CXGE NG RTQLGV #TRCPGV 2QWT NG YGD NOKPXGPVKQP TGXKGPV CWZ EJGTEJGWTUFW%GPVTGGWTQRÃGPFGTGEJGTEJGUPWENÃCKTGU%'40CTEJÃV[RG FOWPG ITCPFG QTICPKUCVKQP FG TGEJGTEJG OWNVKNCVÃTCNG RWDNKSWG 3WG NGU CEVGWTU RTKXÃU L WPKXGTUKVÃU CUUQEKCVKQPU RNWU VCTF GPVTGRTKUGU L CKGPV RTQURÃTÃ UWT EGVVG RNCVGHQTOG GUV KPEQPVGUVCDNG OCKU SWOKNU RWKUUGPV GP TGXGPFKSWGT NC RCVGTPKVÃ FÃHQTOG SWGNSWG RGW NOJKUVQKTG .G EQOOGTEG ÃNGEVTQPKSWG UGTCKV GP QWVTG NG RTKPEKRCN RQKPV FOCRRNKECVKQP FGU PQWXGCWZ TÃUGCWZ QT NC ITCVWKVÃ C VQWLQWTU ÃVÃ KPUETKVG FCPU NG HQPEVKQPPGOGPV FG
.
NOKPVGTPGVVCPVFCPUUCRJKNQUQRJKGQTKIKPGNNGSWGUCUVTWEVWTGOÄOGRWKUSWG HQPV FÃHCWV NGU EQPFKVKQPU RTGOKÂTGU FGU VTCPUCEVKQPU NC UÃEWTKVÃ GV NC EQPHKCPEG.OKPVGTPGVCRRQTVGWPEQPVTGRQKFUCWZTKUSWGUFGEQPEGPVTCVKQPFG NC FKHHWUKQP FG NOKPHQTOCVKQP GV FGU RTQFWKVU EWNVWTGNU GP EG SWOKN TGOÃFKG CWZRJÃPQOÂPGUFGTCTGVÃPCVWTGNUHTÃSWGPEGUQWÃEQPQOKSWGUEKTEWKVUFG FKUVTKDWVKQP &OQÔ NOKORQTVCPEG RQWT NOCXGPKT FOWP KPVGTPGV QWXGTV GV FKXGTUKHKÃ FG RQNKVKSWGU FG NC EQPEWTTGPEG SWK TÃIKUUGPV NOCEVKXKVÃ FGU QRÃTCVGWTU UG UKVWCPV CW ETQKUGOGPV FW OQPFG XKTVWGN GV FW OQPFG TÃGN GPVTGRTKUGU FG VÃNÃEQOOWPKECVKQPU HQWTPKUUGWT FOCEEÂU JÃDGTIGWTU %GU RQNKVKSWGU CWFGN´ FGU UGWNU GPLGWZ ÃEQPQOKSWGU HCEKNKVGTQPV NC FKXGTUKVÃ FCPUNCEWNVWTGGVNOÃFWECVKQPNCNKDGTVÃFGRWDNKGTGVFGFÃDCVVTG+PVGTPGVGV RQNKVKSWGU RWDNKSWGU NQKP FG UG EQPVTGFKTG FQKXGPV UOCRRW[GT OWVWGNNGOGPV
LNOCHHKTOCVKQP UGNQP NCSWGNNG NOKPVGTPGV UGTCKV WP TÃUGCW FÃEGPVTCNKUÃ NC XKUKQP GUV RCTVKGNNG 5QP CTEJKVGEVWTG CRRCTCÉV GP GHHGV RTÃEKUÃOGPV JKÃTCTEJKUÃG ´ VTCXGTU NG U[UVÂOG FGU CFTGUUGU GV PQOU FG FQOCKPG SWK RGTOGV CWZ OCEJKPGU FG UG TGEQPPCÉVTG GPVTG GNNGU GV FG EQOOWPKSWGT .C UVTWEVWTGFGUTÃUGCWZGUVGPHCKVFKUVTKDWÃGUGNQPFKHHÃTGPVUPKXGCWZGVPWFU FGEQOOWPKECVKQPTÃRCTVKU UWTNOGPUGODNGFGNCRNCPÂVGSWKCEJGOKPGPV´
NGWTFGUVKPCVKQPHKPCNGNGUnRCSWGVUFGFQPPÃGU PWOÃTKSWGU .GU TÃUGCWZ QRÂTGPVIT¸EG´WPGUÃTKGFGPQTOGUNGUnRTQVQEQNGUNCRNWUEQPPWGÃVCPV NCPQTOG+2+PVGTPGV2TQVQEQNDKGPVÏVFCPUUCXGTUKQPCXGERQWTEQPVTCKPVG CDUQNWG SWOGNNGU UQKGPV KPVGTQRÃTCDNGU &OQÔ NG FQIOG FG NC EQPPGEVKXKVÃ WPKXGTUGNNG FG NOKPVGTPGV FÃHGPFW RCT NGU QTICPKUOGU L CW RTGOKGT TCPI FGUSWGNU NO+'6( +PVGTPGV 'PIGPGGTKPI 6CUM (QTEG L FQPV NG TÏNG GUV FOÃNCDQTGT GV FOCTTÄVGT EGU PQTOGU 3WG EGU KPUVKVWVKQPU POCKGPV PK RGTUQPPCNKVÃLWTKFKSWGPKnXKUCIGRTÃEKUPGTGVKTGTKGP´NGWTRQWXQKTCXGE NGURTQDNÂOGUFGNÃIKVKOKVÃSWGEGEKUQWNÂXG.COÃEQPPCKUUCPEGCEVWGNNGFW HQPEVKQPPGOGPV FW nEWT FW U[UVÂOG PG LWUVKHKG RCU FG TGPQPEGT ´ WP GHHQTVFGEQORTÃJGPUKQPRQWTNOCXGPKT
LNOCHHKTOCVKQPUGNQPNCSWGNNGNCTÃIWNCVKQPFGNOKPVGTPGVUGTCKVKORQUUKDNG GP TCKUQP FG UQP ECTCEVÂTG FÃEGPVTCNKUà GV CVGTTKVQTKCN FGWZ ECTCEVÂTGU SWK GORÄEJGPV NG FTQKV UQWXGTCKP FGU 'VCVU FG UOCRRNKSWGT %GVVG CUUGTVKQP UQWXGPVGPVGPFWGOÃUGUVKOGSWGNSWGUFQPPÃGUUKORNGUFGNOGPXKTQPPGOGPV FGU UQEKÃVÃU JWOCKPGU &OCDQTF NG HCKV XÃTKHKà FCPU VQWU NGU U[UVÂOGU LWTKFKSWGUSWOWPLWIGQWWPVTKDWPCNUGRTQPQPEGVQWLQWTUUWTNGUECUSWKNWK UQPV RTÃUGPVÃU #IKT CWVTGOGPV UGTCKV WP FÃPK FG LWUVKEG CFOGVVCPV SWG NOKPUVKVWVKQPLWFKEKCKTGRWKUUGPGRCUÄVTGGHHGEVKXG%QPHTQPVôWPRTQDNÂOG PQWXGCWVQWEJCPVNOKPVGTPGVWPLWIGQÔSWOKNUQKVUGRTQPQPEGTCUWTNGHQPF FGNCSWGUVKQPRQUÃG2GWKORQTVGNCNQECNKUCVKQPFGNOCWVGWTFWFQOOCIGQW FW FÃNKV RQWTXW SWG EGNWKEK CKV FGU TÃRGTEWUUKQPU UWT WP EKVQ[GP QW NG
VGTTKVQKTGTGNGXCPVFGNCLWTKFKEVKQPUCKUKG.CRGTURGEVKXGFOKPVGTPGVPOGUVFQPE RCU NG PQPFTQKV OCKU RNWVÏV NG OÃNCPIG NC EQPHWUKQP GV KP HKPG NGU EQPVTCFKEVKQPU GV EQPHNKVU FGU FTQKVU SWK UO[ TGPEQPVTGPV /ÃECPKSWGOGPV EQORVGVGPWFGNCHCEKNKVÃRQWTnFÃNQECNKUGTNOKPHQTOCVKQPPWOÃTKSWGKNUG RTQFWKTCWPGFÃTKXGFGUCEVKXKVÃUEQPVGUVÃGUFCPUWP'VCVXGTUFGU'VCVURNWU VQNÃTCPVU QW OQKPU TGICTFCPVU CXGE NG FÃXGNQRRGOGPV FG nRCTCFKU PWOÃTKSWGU 1T EGU RCTCFKU GWZOÄOGU TGUVGPV FGU EQORQUCPVGU FG NC UQEKÃVÃ KPVGTPCVKQPCNG CXGE NGU ECRCEKVÃU FOKPHNWGPEG SWK UOGZGTEGPV UWT GWZ .OGPLGWGPFÃHKPKVKXGEQPVTCKTGOGPV ´ EG SWOCHHKTOGPV NGU NKDGTVCKTGU GUV FG RQUGT WP OKPKOWO FG TÃIWNCVKQP OQPFKCNG UCPU SWQK UOKORQUGTQPV NG FÃUQTFTGFCPUWPRTGOKGTVGORUNCNQKFWRNWUHQTVFCPUWPUGEQPF
7PGVGPVCVKXGFGFÃHKPKVKQP
.CFKHHKEWNVÃFOWPGFÃHKPKVKQPENCKTGFGNOKPVGTPGVKNNWUVTGNGUCODKIWÊVÃU´
UQP RTQRQU nTÃUGCWZ FGU TÃUGCWZ nOÃFKC WPKXGTUGN VQWU NGU SWCNKHKECVKHU UQPV WVKNKUÃU RNWU RCT UQWEK FOGORJCUG SWG FG RTÃEKUKQP 6QWV FÃRGPF GP HCKV FGU EQPVQWTU SWG NOQP FQPPG CWZ FKHHÃTGPVGU EQORQUCPVGU SWGTGEQWXTGNOKPVGTPGVGPVTGEGUCRRTQEJGU
LCW UGPU UVTKEV NOKPVGTPGV GUV EQPUVKVWÃ RCT WPG UÃTKG FG PQTOGU FQPV NC RNWUEQPPWGGUVNCPQTOG+2'PEGUGPUKNPGUOCIKVRCUFOWPGKPHTCUVTWEVWTG RJ[UKSWG OCEJKPGU TÃUGCWZ RWKUSWG EGNNGEK UG EQPVGPVG FOKPVÃITGT EGU PQTOGUFÃXGNQRRÃGUFGHCÁQPKPFÃRGPFCPVGRCTNGUQTICPKUOGUKUUWUFGNC EQOOWPCWVÃUEKGPVKHKSWGKPVGTPCVKQPCNG+'6(9%+%#00GPOCTIGFGU UVTWEVWTGUKPVGTIQWXGTPGOGPVCNGU%GFKURQUKVKHVTCFWKVFOCKNNGWTUWPGHQTOG FGTGXCPEJGFWOQPFGFGNOKPHQTOCVKSWGLGWPGGVVWTDWNGPVSWKCKORQUÃUC XKUKQP CW EGTENG CWVTGHQKU OQPQRQNKUVKSWG FGU QRÃTCVGWTU FG VÃNÃEQOOWPKECVKQP TGITQWRÃU CW UGKP FG NO7PKQP KPVGTPCVKQPCNG FGU VÃNÃEQOOWPKECVKQPU
LCWUGPUNCTIGNOKPVGTPGVTGEQWXTGNCEQPXGTIGPEGFGVTQKUnEQWEJGUSWK UGUWRGTRQUGPVFOCDQTFNGUOCEJKPGUNGUQTFKPCVGWTUTGNKÃGUGPVTGGNNGURCT FGU TÃUGCWZ CWZ VGEJPQNQIKGU OWNVKRNGU HKN VÃNÃRJQPKSWG E¸DNG HKDTG QRVKSWG UCVGNNKVG SWK HQTOGPV WPG ECRKNNCTKVÃ VGTTGUVTG FG RNWU GP RNWU XCUVG GPUWKVG NGU NQIKEKGNU KORNCPVÃU CWUUK DKGP FCPU NGU OCEJKPGU GV NGU TÃUGCWZ SWK QTICPKUGPV GV VTCKVGPV NOKPHQTOCVKQP UGNQP FG OWNVKRNGU CRRNKECVKQPU GPHKP NGU KPHQTOCVKQPU GNNGUOÄOGU NGU nEQPVGPWU XGPCPV FG UQWTEGU OWNVKRNGU RTGUUG CFOKPKUVTCVKQP DKDNKQVJÂSWGU GP HCKV FGU TGHNGVUXKTVWGNU FG EG SWK GZKUVG FCPU NG OQPFG TÃGN .C EQPXGTIGPEG FG EGU VTQKU PKXGCWZ CRRNKSWÃG ´ FGU KPHQTOCVKQPU PWOÃTKSWGU VGZVGU KOCIGU UQPGPIGPFTGWPGUQWTEGRGTOCPGPVGFOCODKIWÊVÃNQTUSWOKNUOCIKVFGFÃHKPKT
FGUOQFGUFGIQWXGTPCPEG'PRCTNCPVFGNOKPVGTPGVCWUGPUEQWTCPVQPVGPF GPGHHGV´EQPHQPFTGEGSWKTGUUQTVFGUTÃUGCWZEGSWKTÃUWNVGFGUNQIKEKGNUSWK VTCKVGPV NGU FQPPÃGU GV EG SWK TGRTÃUGPVG NOKPHQTOCVKQP RTQRTGOGPV FKVG
&KUVKPIWGT GPVTG QWVKNU GV EQPVGPWU CRRQTVGTCKV FÃL´ RNWU FG ENCTVÃ /CKU NOKPVGTPGV EQPUVKVWG WP QWVKN VGNNGOGPV RWKUUCPV SWOKN RGTOGV FG OQFKHKGT NC PCVWTG FG EG SWOKN XÃJKEWNG 2QWT ÃXCNWGT UQP KORCEV KN HCWFTCKV CPCN[UGT NOGHHGV EQODKPÃ FG UGU ECTCEVÃTKUVKSWGU RTKPEKRCNGU WPKXGTUCNKVÃ KOOÃFKCVGVÃ KPVGTCEVKXKVÃ CPQP[OCV UQKV WP XCUVG UWLGV GPEQTG RGW GZRNQTÃ
.C FKUVKPEVKQP GPVTG EGU nEQWEJGU QWVTG NG HCKV FOCRRQTVGT WP RGW FG ENCTVÃ RGWV HCKTG OKGWZ TGUUQTVKT FGU OQ[GPU FOKPVGTXGPVKQP SWK UQKGPV GHHGEVKHUGPVGTOGUFGIQWXGTPCPEG
&GUNWVVGUFGRQWXQKT
0QWXGCW EQPVKPGPV NOKPVGTPGV GUV NG NKGW FG TKXCNKVÃU SWK RQWT ÄVTG EQPHWUGU POGP UQPV RCU OQKPU TÃGNNGU %JCEWP UO[ RTÃUGPVG CW PQO FOWP KFÃCNRQWTNGRNWUITCPFDKGPFGNOGPUGODNGFGUEKVQ[GPUFWOQPFGXKTVWGN NGUnKPVGTPCWVGU.GUOQVKXCVKQPUTÃGNNGUNGUCNNKCPEGUVCEKVGUSWKUGPQWGPV TGUUQTVGPVFOCURKTCVKQPURNWUENCUUKSWGURQWXQKTCTIGPVTGPQOOÃG
5EJÃOCVKSWGOGPVVTQKUITCPFGUECVÃIQTKGUFOCEVGWTUEJGTEJGPV´CHHKTOGT NGWTXKUKQPFWOQPFGXKTVWGN
LNGUUEKGPVKHKSWGUGVCWVQWTFOGWZVGNUFGURQKUUQPURKNQVGUEGWZSWGNOQP RQWTTCKV CRRGNGT NGU NKDGTVCKTGU 2QWT NGU UEKGPVKHKSWGU NC EQPUVTWEVKQP FOKPVGTPGVGUVFOCDQTFUQWTEGFOWPGNÃIKVKOGHKGTVÃ&ÃXGNQRRÃGPOCTIGFGU ITCPFGU KPUVKVWVKQPU UQWXGPV EQPVTG NGU FKMVCVU FGU QRÃTCVGWTU FGU VÃNÃEQOOWPKECVKQPUNOKPVGTPGVKPECTPGWPGPQWXGNNGHQTOGFOQTICPKUCVKQPFG NC UQEKÃVÃ SWK UG XGWV HQPFÃG UWT NC EQORÃVGPEG RWTG NOQDLGEVKXKVÃ NG FÃUKPVÃTGUUGOGPV7P\GUVGFGTÃUKUVCPEG´NOCWVQTKVÃLUWTVQWVEGNNGCRTKQTK DWTGCWETCVKSWG GV KPGHHKECEG FGU 'VCVU L UO[ CLQWVG XQNQPVKGTU &OQÔ FCPU NOQTICPKUCVKQPKPHQTOGNNGFGNOKPVGTPGVFGUEQPEGRVUKPVÃTGUUCPVUEQPEGTPCPV NG VTCXCKN GP TÃUGCW GV FGU OQFGU FG FÃEKUKQP HQPFÃU UWT NC PQVKQP FG nEQPUGPUWU CRRTQZKOCVKH EQPEGRVU EGTVCKPGOGPV RGTVKPGPVU FCPU FGU EGTENGU TGUVTGKPVU GV ÃENCKTÃU RQWT NGUSWGNU NC XÃTKVÃ UEKGPVKHKSWG UOKORQUG PCVWTGNNGOGPVOCKURGWCFCRVÃU´TÃUQWFTGFGUEQPHNKVUFOKPVÃTÄVURQNKVKSWGU QWEQOOGTEKCWZ'PVQWTÃUFGEGVVGCWTCNGUnETÃCVGWTUFGNOKPVGTPGVUQPV CKPUK COGPÃU ´ UOGZRTKOGT UWT NGU SWGUVKQPU FG UQEKÃVÃ QW FGU GPLGWZ ÃEQPQOKSWGUQÔNGWTNÃIKVKOKVÃUGODNGOQKPUÃXKFGPVG
LNGU GPVTGRTKUGU XGPWGU CXGE WP RGW FG FÃECNCIG POQPV RCU VCTFÃ ´ OGUWTGTNOGNFQTCFQSWGNGWTQHHTCKGPVNGUPQWXGCWZTÃUGCWZ'NNGUPGUGUQPV RCU EQPVGPVÃGU FO[ LQWGT NGWT TÏNG DKGP PQTOCN FG EQPSWÃTKT FG PQWXGCWZ OCTEJÃUOCKU[QPVXWCWUUKWPOQ[GPFGEQPVQWTPGTFGUTÃINGOGPVCVKQPU ÃVCVKSWGU ´ NGWT ITÃ PWKUKDNGU ´ NC HNWKFKVÃ FW EQOOGTEG &OQÔ SWGNSWGU RTQENCOCVKQPU UWT NOCWVQTÃIWNCVKQP OCÉVTG OQV FG EG SWG UGTCKGPV NGU PQWXGNNGUTÂINGUFWLGWFGNOÂTGPWOÃTKSWG#XGENOGHHTKVGOGPVFGNCPQWXGNNG ÃEQPQOKG GV NC EQPUVCVCVKQP SWG NGU RQNKVKSWGU RWDNKSWGU CXCKGPV GPEQTG SWGNSWGCXGPKTEGVVGXKUKQPCCWLQWTFOJWKRGTFWFGUCRGTVKPGPEG'NNGICTFG EGRGPFCPV FOCTFGPVU GV GHHKECEGU FÃHGPUGWTU PQVCOOGPV GP NC RGTUQPPG FG ECDKPGVU FG EQPUWNVCPVU KPVGTPCVKQPCWZ RQWT SWK UG RTÃUGPVGPV FOKPPQODTCDNGU QEECUKQPU FG OÃFKCVKQPU FOCTDKVTCIGU GV FG RTQEÃFWTGU GP VQWU IGPTGU CW RNWU ITCPF DÃPÃHKEG FG NGWT EQTRQTCVKQP 'P VQKNG FG HQPF UOCHHTQPVGPV´EGUWLGVNCEQOOQPNCYNGOQPFGFGUNCY[GTUKPEGTVCKPGOCKU CFCRVCDNG TKXCNKUCPV CXGE NG FTQKV EQFKHKÃ NG OQPFG FGU HQPEVKQPPCKTGU RTÃXKUKDNG OCKU TKIKFG .GU GPVTGRTKUGU UG VTQWXGPV FCPU NC UKVWCVKQP RCTCFQZCNG QÔ NGWT KPVÃTÄV UGTCKV FG FKURQUGT FOWP GPXKTQPPGOGPV ENCKT GV RTÃXKUKDNG IÃPÃTCNGOGPV QHHGTV RCT FGU RQNKVKSWGU RWDNKSWGU NG FTQKV FOCWVGWT TGNÂXGVKN FG NOCWVQTÃIWNCVKQP! SWG NG UGWN LGW FW OCTEJÃ GUV NG RNWU UQWXGPV KPECRCDNG FG NGWT CRRQTVGT RWKUSWOKN OWNVKRNKG NGU PQTOGU GV CHHCKDNKVNGWTRQTVÃG
LNGU'VCVUFÃEQWXTCPVCXGETGVCTFEGOQPFGPQWXGCWOCNCFTQKVUGVOCN QWVKNNÃU RQWT UO[ OQWXQKT KPKVKCNGOGPV TGLGVÃU EQOOG FGU RCTKCU RCT NGU CWVTGUCEVGWTURGKPGPV´VTQWXGTNGWTUOCTSWGU.GWTURTGOKÂTGUCRRTQEJGU EJGTEJCPV´KOKVGTNGUTGEGVVGUFWOQPFGTÃGNUGUQPVTÃXÃNÃGUKPCFCRVÃGU#
RTÃUGPV CXGE RNWU FOJWOKNKVÃ NGU TGURQPUCDNGU RQNKVKSWGU GV VGEJPQETCVGU VGPVGPV FG TGVTQWXGT XQKZ CW EJCRKVTG +NU FGXKGPPGPV WVKNKUCVGWTU GV HQWTPKUUGWTUFGUGTXKEGUNOCFOKPKUVTCVKQPÃNGEVTQPKSWGEGSWKGUVUCPUFQWVG NG OGKNNGWT UGTXKEG ´ TGPFTG ´ NOGPUGODNG FG NC UQEKÃVÃ FG NOKPHQTOCVKQP 'PUWKVG NQTUSWOKN HCWFTC UÃTKGWUGOGPV UOCVVCEJGT ´ WPG TÃIWNCVKQP KPVGTPCVKQPCNGKNURQWTTQPVHCKTGXCNQKTSWGUGWNUNGU'VCVUFCPUVQWVGUNGWTU EQORQUCPVGU L NÃIKUNCVKXG LWFKEKCKTG GZÃEWVKXG L ICTFGPV NC ECRCEKVÃ FG PÃIQEKGTGVFGFÃHKPKTCWPKXGCWOQPFKCNFGUTÂINGUGZÃEWVQKTGUC[CPVGHHGV GTIC QOPGU EGEK UGNQP FGU RTQEÃFWTGU KPUVKVWVKQPPGNNGU L GV RQWT VQWV FKTG FÃOQETCVKSWGULFQPVQPPGXQKVRCURQWTSWQKNCRGTVKPGPEGUGTCKVTGOKUGGP ECWUGFCPUNGOQPFGXKTVWGN&GPQWXGNNGUCNNKCPEGUUGFGUUKPGPVFQPEFÃL´
FCPUNGOQPFGXKTVWGN
4KGPFCPUNGURTÃEÃFGPVGUFKUVKPEVKQPUPGXCFOCKNNGWTU´NOGPEQPVTGFOWPG FÃOCTEJGOCKPVGPCPVEQPPWGUQWUNGXQECDNG FG EQTÃIWNCVKQP KPEKVCPV EGU FKHHÃTGPVU CEVGWTU ´ FÃXGNQRRGT FGU KPVGTCEVKQPU GV VTQWXGT FGU VGTTCKPU FOGPVGPVG.GEJGOKPUGTCEGRGPFCPVGPEQTGNQPIFCPUNCOGUWTGQÔUKWPG
EQPXGTIGPEG FOKPVÃTÄVU EQOOGPEG ´ CRRCTCÉVTG NGU TÃHÃTGPEGU EQOOWPGU TGUVGPVVÃPWGUGVNGUNKGWZFGFÃDCVRGWUVTWEVWTÃU
3WGNSWGUTGRÂTGU
7PG VTKNQIKG FG NC UQEKÃVÃ FG NOKPHQTOCVKQP RGWV ÄVTG RTQRQUÃG UGNQP EGU VGTOGUEQPHKCPEGCEEÂUPGWVTCNKVÃVGEJPQNQIKSWG
.C EQPHKCPEG TGRTÃUGPVG NOWP FGU OCÉVTGU OQVU FG NC UQEKÃVÃ FG NOKPHQTOCVKQP FQPV NGU RGTRGEVKXGU HCUEKPGPV CWVCPV SWOGNNGU KPSWKÂVGPV OWNVKRNKECVKQP FGU EQORQTVGOGPVU ETKOKPGNU TKUSWGU FOCVVGKPVG ´ NC XKG RTKXÃGFGURGTUQPPGUKPEGTVKVWFGUFCPUNGUVTCPUCEVKQPU1TUKNCRGTEGRVKQP XCUQWXGPVCWFGN´FGNCTÃCNKVÃEGUGPVKOGPVFKHHWUFGFÃHKCPEGTGRTÃUGPVG NOWPFGURTKPEKRCWZQDUVCENGU´NOGUUQTFGUPQWXGCWZTÃUGCWZ&GUTÃRQPUGU GZKUVGPV VCPV CW PKXGCW VGEJPKSWG ET[RVCIG EGTVKHKECVU ÃNGEVTQPKSWGU VGEJPQNQIKGUFOKFGPVKHKECVKQPSWOCWPKXGCWKPUVKVWVKQPPGNGVLWTKFKSWG&CPU NC NWVVG EQPVTG NC E[DGTETKOKPCNKVÃ FGU LCNQPU QPV ÃVÃ RQUÃU RCT NG ) GV NG
%QPUGKN FG NO'WTQRG GP FÃHKPKUUCPV NGU KPHTCEVKQPU GV FGU OÃECPKUOGU FG EQQRÃTCVKQP.CEQPXGPVKQPSWKTÃUWNVGFGEGUVTCXCWZTGRTÃUGPVGWPECFTGFG TÃHÃTGPEG RQWT FGU VTCXCWZ ´ NOÃEJGNNG OQPFKCNG 2QWT TÃRQPFTG CWZ KPSWKÃVWFGU SWK UG OCPKHGUVGPV ´ UQP UWLGV FQPV NC TÃCNKVÃ PG UG XÃTKHKGTC EGRGPFCPV SWOCW UVCFG FGU OGUWTGU KPVGTPGU FOCRRNKECVKQP FGU ICTCPVKGU RQWTNCRTQVGEVKQPFGNCXKGRTKXÃGFGXTQPVÄVTGVTQWXÃGU.CRTQVGEVKQPFGU FQPPÃGU RGTUQPPGNNGU CRRCTCÉV DKGP EQOOG NOWP FGU GPLGWZ GUUGPVKGN FW FÃXGNQRRGOGPV JCTOQPKGWZ FGU TÃUGCWZ 3WOGNNG RTQXKGPPG FOQTICPKUOGU RWDNKEU QWFGRTCVKSWGURTKXÃGUCXGEFGUQDLGEVKHUEQOOGTEKCWZNCEQNNGEVG FGU FQPPÃGU FQKV FOCWVCPV RNWU ÄVTG OCÉVTKUÃG SWG EGTVCKPU UQPV VGPVÃU FO[
XQKTWPGOCTEJCPFKUGEQOOGWPGCWVTG.GU'WTQRÃGPUQPVFÃXGNQRRÃUWT EG VGTTCKP WPG FQEVTKPG GV FGU KPUVTWOGPVU SWK RCTVGPV FG NOKFÃG SWG UGWNGU FGURQNKVKSWGURWDNKSWGURGWXGPVFÃHKPKTEGSWKGUVCEEGRVCDNGGPVGTOGUFG EQNNGEVGFGFQPPÃGUNGUCEVGWTURTKXÃUPOC[CPVRCUNCNÃIKVKOKVÃRQWTVTCPEJGT FGUEQPHNKVUFOKPVÃTÄVRQTVCPVUWTWPFTQKVGUUGPVKGNFGNCRGTUQPPGJWOCKPG 7P GZGTEKEG KPVÃTGUUCPV FG TCRRTQEJGOGPV FGU EQPEGRVKQPU COÃTKECKPG GV GWTQRÃGPPGNGUCHGJCTDQTOÃTKVGTCKVOKGWZSWGNOKPFKHHÃTGPEGFCPUNCSWGNNGKN C ÃVÃ CEEWGKNNK 1P TGNÂXGTC FOCKNNGWTU SWG NGU GPVTGRTKUGU GWTQRÃGPPGU SWK EQPPCKUUGPV CXGE RTÃEKUKQP NGWT GPXKTQPPGOGPV TÃINGOGPVCKTG UG UCVKUHQPV HQTVDKGPFGEGVVGUKVWCVKQP
.OCEEÂU TGRTÃUGPVG WP EQPEGRV PQWXGCW GPEQTG XCIWG OCKU FGOCKP EGPVTCN FCPU NC UQEKÃVÃ FG NOKPHQTOCVKQP .G FÃXGNQRRGOGPV FGU TÃUGCWZ FÃRNCEG RTQITGUUKXGOGPV VQWVG NOKPHQTOCVKQP XGTU NG OQPFG PWOÃTKSWG CKPUKFGUUQWTEGUFGNCEQPPCKUUCPEGDKDNKQVJÂSWGUEQWTUDCUGUFGFQPPÃGU
GV ´ VGTOG FGU RTQEÃFWTGU NGU RNWU ÃNÃOGPVCKTGU FG NC XKG FOWPG RGTUQPPG FCPU NC UQEKÃVÃ .QTUSWG NOKFGPVKVÃ POGZKUVGTC RNWU SWG UQWU WPG HQTOG PWOÃTKSWG RGWVQP KOCIKPGT SWG EGTVCKPU UOGP VTQWXGPV GZENWU! &OQÔ NG TKUSWG UGNQP NC HQTOWNG GP XQIWG FW nHQUUÃ PWOÃTKSWG SWK GZKUVG VQWV CWVCPVGPVTGIÃPÃTCVKQPUQWOKNKGWZUQEKCWZFOWPOÄOGRC[USWOGPVTGRC[U FW PQTF GV RC[U FW UWF 2GTOGVVTG NOCEEÂU KORNKSWG FG FÃXGNQRRGT FGU KPHTCUVTWEVWTGU NQECNGUTÃIKQPCNGUOQPFKCNGU CKPUK SWG NC EQPPGEVKXKVÃ EQNNGEVKXG DQTPGU FOCEEÂU E[DGTEGPVTGU QW KPFKXKFWGNNG FG RTÃXQKT FGU HQTOCVKQPU FOGPEQWTCIGT NG FÃXGNQRRGOGPV FGU WUCIGU CXGE FGU CFCRVCVKQPURTQRTGUCWZEQPFKVKQPUFGEJCSWGEWNVWTGPQVCOOGPVFWRQKPV FG XWG NKPIWKUVKSWG 5K GNNG FÃRGPF NCTIGOGPV FW PKXGCW IÃPÃTCN FG FÃXGNQRRGOGPV NC EQPPGEVKXKVÃ TGNÂXG CWUUK FG RQNKVKSWGU URÃEKHKSWGU GV FG nDQPPGURTCVKSWGUFQPVEGTVCKPURC[ULRCUHQTEÃOGPVRNWUFÃXGNQRRÃUL QPVUWUGFQVGTECFTGTÃINGOGPVCKTGFGUVÃNÃEQOOWPKECVKQPUQHHTCPVUÃEWTKVÃ GVTGPVCDKNKVÃCWZKPXGUVKUUGWTUGPEQPVTGRCTVKGFWTGURGEVFOQDLGEVKHUFOKPVÃTÄV IÃPÃTCNHCEKNKVÃUFQPPÃGUCWZQRÃTCVGWTUFOCEEÂUEQOOWPCWVCKTGUNQTUSWGNC EQNNGEVKXKVÃ KPFKXKFWGNNG CRRCTCÉV JQTU FG RQTVÃG OÃECPKUOGU FG RÃTÃSWCVKQPFGUTÃUGCWZNGURNWUTKEJGUGPFKTGEVKQPFGUEQPPGEVKQPUOQKPU HCXQTKUÃGU#WVCPVSWOWPGHHQTVFGTGFKUVTKDWVKQP´NOÃEJGNNGKPVGTPCVKQPCNGNG FÃXGNQRRGOGPV FG NC UQEKÃVÃ FG NOKPHQTOCVKQP FGOCPFG WPG OQDKNKUCVKQP KPVGTPG ´ EJCSWG RC[U .OQDLGEVKH GUV DKGP FG RGTOGVVTG WP CEEÂU WPKXGTUGN RWKUSWO´VGTOGNOKPHQTOCVKQPNOÃFWECVKQPNCTGEJGTEJGNCXKGCUUQEKCVKXGNGU FÃOCTEJGUSWQVKFKGPPGUFGUEKVQ[GPUGPFÃRGPFTQPV
.OKFÃG FG PGWVTCNKVÃ VGEJPQNQIKSWG GZRTKOG FG HCÁQP OCNJCDKNG WP RTKPEKRGUKORNGUGNQPNGSWGNNGUPQWXGNNGUVGEJPQNQIKGUFGNOKPHQTOCVKQPGVFG NCEQOOWPKECVKQPPGFQKXGPVRCUÄVTGWVKNKUÃGURQWTDQWUEWNGTFGUÃSWKNKDTGU SWGNGUUQEKÃVÃUJWOCKPGUQPVOKUFGUFÃEGPPKGUXQKTGFGUUKÂENGU´FÃHKPKT .KGW RTKXKNÃIKÃ FOGZRTGUUKQP GV FG ETÃCVKQP NGU PQWXGCWZ TÃUGCWZ LQWGPV EQOOGWPHQTOKFCDNGNGXKGTRQWTEQPVQWTPGTFGUEQPUVTWEVKQPURCVKGOOGPV ÃNCDQTÃGUCWVGTOGFOCTDKVTCIGURQNKVKSWGUEQORNGZGUTÂINGUCRRNKECDNGUCWZ RWDNKECVKQPUFÃQPVQNQIKGEQPVGPWUKNNÃICWZFTQKVFGTÃRQPUGFKURQUKVKQPU GPECFTCPV NG FTQKV FOCWVGWT GV NC RTQRTKÃVÃ KPVGNNGEVWGNNG RTQVGEVKQP FGU EQPUQOOCVGWTU FCPU NG EQOOGTEG ÃNGEVTQPKSWG 2QWT ENCTKHKGT DKGP FGU FÃDCVU KN HCWFTCKV RQUGT NG RTKPEKRG UGNQP NGSWGN NGU ÃSWKNKDTGU CEVWGNU GP XKIWGWT FCPU NC EQOOWPCWVÃ KPVGTPCVKQPCNG FQKXGPV FCPU VQWVG NC OGUWTG FW RQUUKDNG ÄVTG TGEQPFWKVU &G UKORNGU TÃCHHKTOCVKQPU UWT FGU PQVKQPU HQPFCOGPVCNGU PG UGTQPV RCU KPWVKNGU .C NKDGTVÃ GP RCTVKEWNKGT RTGPF WP UGPUPQWXGCWFCPUNGOQPFGFGUTÃUGCWZ'NNGPOGUVRNWUUGWNGOGPVNGFTQKV nHQTOGN FG TGEGXQKT NOKPHQTOCVKQP OCKU NOGZRTGUUKQP FOWP XÃTKVCDNG RQWXQKT TGFKUVTKDWÃ CW PKXGCW FG EJCSWG KPFKXKFW QW FG EJCSWG ITQWRG UCPU RCUUGT RCT NGU ECPCWZ FOKPUVKVWVKQPU ÃVCDNKGU 7P GZGTEKEG FG
EQPUQNKFCVKQP FGU NKDGTVÃU FCPU NOWPKXGTU PWOÃTKSWG SWK VGPFTCKV ´ NC FÃHKPKVKQP FOWPG UQTVG FG nFTQKV ´ NC ETÃCVKQP KPVGNNGEVWGNNG CTVKUVKSWG CUUQEKCVKXG CWTCKV WP UGPU TÃGN PQVCOOGPV RQWT RCTGT CWZ RTCVKSWGU FOCRRTQRTKCVKQP FGU TÃUGCWZ QW FG OQPQRQNG FGU NQIKEKGNU NGU RNWU KPFKURGPUCDNGU ´ NOÃETKVWTG PWOÃTKSWG .GU VTCXCWZ FG NO70'5%1 QPV DKGP OKU EGU CURGEVU GP XCNGWT PQVCOOGPV NOÃSWKNKDTG ´ VTQWXGT GPVTG NC LWUVG TÃOWPÃTCVKQPFGNOKPXGUVKUUGOGPVSWGVTCFWKVNCRTQRTKÃVÃKPVGNNGEVWGNNGGVNC OKUG ´ FKURQUKVKQP FG EG SWK CRRCTVKGPV CW FQOCKPG RWDNKE WPKXGTUGN FG NOKPHQTOCVKQP .GU NQIKEKGNU NKDTGU NC EQRKG RTKXÃG NG FTQKV FG EKVCVKQP HQPV RCTVKGFGEGFÃDCV
7PGIQWXGTPCPEGKORTQDCDNG
.GU VGEJPQNQIKGU FG NOKPHQTOCVKQP RQUGPV FKHHÃTGOOGPV CKPUK FGU SWGUVKQPUCPEKGPPGUGPOÄOGVGORU SWOGNNGQWXTGPVFGPQWXGCWZEJCORU FOCEVKQP %GU EJCPVKGTU KORNKSWGTCKGPV WPG TÃRQPUG EQJÃTGPVG FG NC EQOOWPCWVÃKPVGTPCVKQPCNG%GNNGEKGPGUVRQWTNGOQOGPVGPEQTGKPECRCDNG GV CWEWP nVTCKVÃ FG NOKPVGTPGV PG XKGPFTC TÃINGT FOWP EQWR FG DCIWGVVG OCIKSWG NOGPUGODNG FGU SWGUVKQPU EQORNGZGU GV OWNVKHQTOGU SWK TÃUWNVGPV FWFÃXGNQRRGOGPVFGUTÃUGCWZÃNGEVTQPKSWGU
6TCFKVKQPPGNNGOGPVNCUQEKÃVÃKPVGTPCVKQPCNGRTQEÂFGRCTTCRRTQEJGOGPV GVJCTOQPKUCVKQPFGUTÂINGUGVRTCVKSWGUFÃL´GZKUVCPVGUFCPUNGU'VCVUSWKNC EQORQUGPV6QWUNGUVTCKVÃUTÃUWNVGPVFGEGRTQEGUUWUFOCITÃICVKQPQTFCPU NG ECU FG NC UQEKÃVÃ FG NOKPHQTOCVKQP NGU 'VCVU GWZOÄOGU POQPV RCU GPEQTG FÃHKPK EGU PQTOGU PK OÄOG ÃPQPEÃ ENCKTGOGPV NGU EJQKZ SWOKNU UGTQPV EQPFWKVU ´ GHHGEVWGT +NU UQPV EQPHTQPVÃU ´ WPG CXCNCPEJG FG UQNNKEKVCVKQPU XGPWGU FW OQPFG INQDCN SWK NGU FÃRCUUGPV CNQTU OÄOG SWOKN NGWT HCWV GP XCPVGT NGU OÃTKVGU CW PQO FG NC OQFGTPKVÃ .C PQWXGCWVÃ GV NG ECTCEVÂTG ÃXQNWVKH FGU SWGUVKQPU KPFWKVGU RCT NGU PQWXGNNGU VGEJPQNQIKGU NGU QRRQUKVKQPU FOKPVÃTÄV GPVTG NGU FKHHÃTGPVU CEVGWTU NC FKHHKEWNVÃ RQWT NGU FKTKIGCPVU FOCRRTÃJGPFGT EGU ÃXQNWVKQPU PG EQPVTKDWGPV RCU ´ ÃENCKTEKT NGU FÃDCVU&GHCÁQPOÃECPKSWGEGRGPFCPVRCTCRRTQZKOCVKQPUUWEEGUUKXGUFGU EQPFWKVGU GV FGU PQTOGU XQPV ÃOGTIGT NC SWGUVKQP RQWT NC EQOOWPCWVÃ KPVGTPCVKQPCNGGUVFGUCXQKTUKGNNG[CUUKUVGTCRCUUKXGOGPVCWTKUSWGFGXQKT NG PQWXGCW EQPVKPGPV FG NC UQEKÃVÃ FG NOKPHQTOCVKQP UG HTCIOGPVGT GP OWNVKRNGUnRNCSWGUVGEVQPKSWGUXKTVWGNNGUKUQNÃGUXQKTGEQPHNKEVWGNNGUQWUK CWEQPVTCKTGGNNGRCTXKGPFTC´FQPPGTWPGKORWNUKQPRQWTSWGUGFÃXGNQRRG WPGnEQPXKXKCNKVÃOQPFKCNGUWTNGUTÃUGCWZ#NNGTFCPUEGVVGFGTPKÂTGXQKG EOGUVGPICIGTWPGCEVKQP´RNWUKGWTUPKXGCWZRTQRQUGTFGUNKGWZFGFKCNQIWG QÔ NGU 'VCVU UG TGPEQPVTGPV GV TGPEQPVTGPV NGU PQWXGCWZ CEVGWTU RQUGT FGU
RTKPEKRGU IÃPÃTCWZ GP CFOGVVCPV FGU FÃENKPCKUQPU KPUVCWTGT FGU OÃECPKUOGUFGTÂINGOGPVFGUFKHHÃTGPFU
(CWVKN FCPU EG EQPVGZVG TGEJGTEJGT FG PQWXGNNGU HQTOGU FG IQWXGTPCPEG!%OGUVEGSWGEGTVCKPURTQRQUGPVGVETQKGPVOÄOGCXQKTVTQWXÃ CXGE NC OKUG GP RNCEG FOWP QTICPKUOG NO+PVGTPGV %QTRQTCVKQP HQT #UUKIPGF 0COGUCPF0WODGTU+%#00EJCTIÃFGTÃIWNGTNGU[UVÂOGFGUCFTGUUGUGV PQOU FG FQOCKPG 1T NOGZRÃTKGPEG FG NO+%#00 HQPFCVKQP RTKXÃG FG FTQKV COÃTKECKP OQPVTG NGU NKOKVGU FOWP VGN GZGTEKEG 5WRRQUÃG VTCXCKNNGT RCT EQPUGPUWU EG SWK POC TKGP FG DKGP PQWXGCW FCPU NGU OÃECPKUOGU KPVGTPCVKQPCWZNO+%#00VTCKVGFGOCPKÂTGGZRÃFKVKXGFGUUWLGVUEQPHNKEVWGNU RCTPCVWTGGVCDQWVKVCWVGTOGFGRTQEÃFWTGURCUUCDNGOGPVQDUEWTGU´FGU FÃEKUKQPU FÃRQWTXWGU FG NÃIKVKOKVÃ GV HTCRRÃGU FOWPG HTCIKNKVÃ LWTKFKSWG UVTWEVWTGNNG .OGZRÃTKGPEG UGTCKV UCPU FQOOCIG UK POGZKUVCKV NG TKUSWG FOWP OQTEGNNGOGPV GV FOWPG HTCIOGPVCVKQP FW U[UVÂOG ´ NOGPEQPVTG FW RTKPEKRG FG EQPPGEVKXKVÃ WPKXGTUGNNG 5CPU FQWVG NGU PQWXGCWZ VJÃQNQIKGPU FG NC UQEKÃVÃ FG NOKPHQTOCVKQP UGTQPVKNU EQPFWKVU WP LQWT ´ TGFÃEQWXTKT SWG NGU QTICPKUCVKQPU KPVGTIQWXGTPGOGPVCNGU EGTVGU CXGE WP KPFKURGPUCDNG CIIKQTPCOGPVQ FG NGWT OQFG QRÃTCVQKTG FGOGWTGPV NGU UGWNGU ´ RQWXQKT ÃVCDNKTFGUTÂINGUGHHGEVKXGUFGTÃIWNCVKQPOQPFKCNG
.O1TICPKUCVKQPFGU0CVKQPUWPKGUGPHCKUCPVRTGWXGFOKOCIKPCVKQPRGWV VTQWXGT FCPU EGVVG XCUVG GPVTGRTKUG RQWT QTICPKUGT NC IQWXGTPCPEG FG NC UQEKÃVÃ FG NOKPHQTOCVKQP WPG PQWXGNNG NÃIKVKOKVÃ GV NC RNCEG EGPVTCNG SWK FGXTCKV NWK TGXGPKT +N NWK HCWFTC RQWT EGNC TGEJGTEJGT WPG TGNCVKQP FG UWDUKFKCTKVÃ GPVTG FGU RTKPEKRGU CITÃÃU ´ NOÃEJGNNG WPKXGTUGNNG GV EQTTGURQPFCPV´WPGEQOOWPCWVÃFGTÃHÃTGPEGUJWOCKPGUGVNGTGURGEVFG OQFGUFGRGPUÃGGVFGRTCVKSWGUnNQECNGUEQPÁWU´WPGÃEJGNNGTÃIKQPCNG PQP UGWNGOGPV CW UGPU RJ[UKSWG OCKU CWUUK RCT TÃHÃTGPEG ´ FGU EQOOWPCWVÃUFGXCNGWTUGVFGUQNKFCTKVÃUFCPUNGOQPFGPWOÃTKSWG
.C EQOOWPCWVÃ KPVGTPCVKQPCNG JCDKVWÃG ´ TGEQWTKT ´ FGU KPUVTWOGPVU NQWTFU GV TKIKFGU L VTCKVÃU EQPXGPVKQPU L FGXTC GPTKEJKT UC RCNGVVG CXGE FG PQWXGCWZQWVKNURNWUUQWRNGUGVTÃXKUCDNGUSWKUQKGPVECRCDNGUFGUOCFCRVGT
´NCEQORNGZKVÃGVCWECTCEVÂTGÃXQNWVKHGVVGEJPKSWG#KPUKFGUEJCTVGUNKIPGU FKTGEVTKEGU OÃECPKUOGU FG NCDGNNKUCVKQP SWK UG FÃXGNQRRGPV CXGE VQWV NOKPVÃTÄVFOKPKVKCVKXGUnFGVGTTCKPOCKUCWUUKNGUKPEQPXÃPKGPVUFOWPGHCKDNG NKUKDKNKVÃ RQWT NGU WVKNKUCVGWTU GV NG TKUSWG FOWPG ETÃFKDKNKVÃ CHHCKDNKG RCT NGU EQPHNKVUFOKPVÃTÄVRTKXÃU.OWPFGUGPLGWZFGNCTÃIWNCVKQPUGTCFQPEFGFÃHKPKT GPCOQPVNGUPQTOGUIÃPÃTCNGUUQWUHQTOGFGRQNKVKSWGURWDNKSWGUENCKTGUGV CFCRVCDNGUFCPUNGUSWGNNGUXKGPFTQPVUOKPUETKTGNGUCEVGWTURTKXÃU
2CTCNNÂNGOGPV ´ NC TÃHNGZKQP UWT NGU CURGEVU PQTOCVKHU NC UQEKÃVÃ FG NOKPHQTOCVKQP KORNKSWG FG FÃHKPKT WPG FQEVTKPG SWCPV CW TÏNG FGU KPVGTOÃFKCKTGU GPVTG NG OQPFG TÃGN GV NG XKTVWGN QRÃTCVGWTU FG VÃNÃEQOOWPKECVKQPU HQWTPKUUGWTU FOCEEÂU EQPEGRVGWTU FG NQIKEKGNU .GWT TGURQPUCDKNKVÃCLWUSWOKEKUWTVQWVÃVÃEQPÁWGFGVGNNGOCPKÂTGSWGEGUCEVGWTU FGXKGPPGPV FGU UQTVGU FOCWZKNKCKTGU FGU CWVQTKVÃU RWDNKSWGU 'PEQTG HCWVKN ENCTKHKGTGVJCTOQPKUGTNGUTÂINGUGVNGWTFQPPGTNGUOQ[GPUFOCUUWTGTWPVGN TÏNG GP UOCRRW[CPV UWT FGU CWVQTKVÃU C[CPV NC NÃIKVKOKVÃ PÃEGUUCKTG GV FGU ECRCEKVÃU JWOCKPGU GV VGEJPKSWGU UWHHKUCPVGU %GU CWVQTKVÃU FQPV NC PCVWTG RGWV XCTKGT UGNQP EJCSWG UQEKÃVÃ FGXTCKGPV ÄVTG EQPÁWGU ´ FGU PKXGCWZ TÃIKQPCWZVQWVGPÃVCDNKUUCPVGPVTGGNNGUWPTÃUGCWOQPFKCN
7PRGWFGHKEVKQP
6GNURQWTTCKGPVÄVTGNGURTÃOKUUGUFOWPGXKUKQPnTCKUQPPÃGFGNCUQEKÃVÃ FG NOKPHQTOCVKQP 1T TKGP POKPFKSWG SWOGNNG UQKV NC RNWU XTCKUGODNCDNG .C RTQNQPICVKQPFGUVGPFCPEGURTÃUGPVGULQWGRNWVÏVFCPUNGUGPUFOWPUEÃPCTKQ nRCICKNNGVCPFKUSWGUGRTQHKNGGPEQPVTGRQKPV NC RGTURGEVKXG FG TÃUGCWZ EQPVTÏNÃUGVXGTTQWKNNÃU
&CPUNGUEQPFKVKQPUCEVWGNNGUSWKEQTTGURQPFGPV´NOnÂTGRTKOCKTGFGNC UQEKÃVÃ FG NOKPHQTOCVKQP RTÃFQOKPGPV UWT NGU TÃUGCWZ NOCPQP[OCV NC FÃEGPVTCNKUCVKQP FGU EQPVGPWU NC OWNVKRNKEKVÃ FGU CEVGWTU UCPU SWG NGU KPVGTHCEGU GPVTG OQPFG XKTVWGN GV OQPFG TÃGN UQKGPV GPEQTG RTÃEKUÃOGPV FÃHKPKGU#KPUKNGUCFTGUUGUGVPQOUFGFQOCKPGUSWKHQTOGPVNOQUUCVWTGFG NOKPVGTPGVUQPVCVVTKDWÃUUGNQPNCTÂINGFGnRTGOKGT CTTKXÃ RTGOKGT UGTXK
UCPUEQJÃTGPEGRCTVKEWNKÂTG&GOÄOGNCEQPEGRVKQPFGUNQIKEKGNUUGFGUUKPG
´ RCTVKT FOQRVKQPU UVTKEVGOGPV EQOOGTEKCNGU CNQTU SWG EGU OÄOGU NQIKEKGNU KPFWKUGPV FGU PQTOGU SWK UOKORQUGPV ´ NOWVKNKUCVGWT GV EQPUVKVWGPV CKPUK NC nNQK FGU TÃUGCWZ &GU HQWTPKUUGWTU FG NQIKEKGNU nRTQRQUGPV FGU QRVKQPU FGRTQVGEVKQPFGNCXKGRTKXÃGFGHKNVTCIGFGUEQPVGPWUFGTQWVCIGXGTUFGU UKVGURTÃFÃVGTOKPÃUUGNQPSWGNUETKVÂTGU!CXGESWGNNGUICTCPVKGU!GPXGTVW FGSWGNNGNÃIKVKOKVÃ!&GUEJQKZC[CPVWPVGNKORCEVUWTNCXKGFGURGTUQPPGU FQKXGPV HCKTG NOQDLGV FG FKUEWUUKQPU RWDNKSWGU FOGZRGTVKUGU KPFÃRGPFCPVGU FG OÃECPKUOGU FG EGTVKHKECVKQP UGNQP FGU ETKVÂTGU FOKPVÃTÄV IÃPÃTCN %GVVG FGTPKÂTG CRRTQEJG GUV GP IGTOG FCPU NGU RTQEÃFWTGU RTÃXWGU RQWT EG SWK VQWEJG NC UÃEWTKVÃ FGU TÃUGCWZ GP NOGURÂEG NC EGTVKHKECVKQP FGU RTQFWKVU FG ET[RVQNQIKG
.C NQIKSWG QWXGTVG FG NOKPVGTPGV GUV NQKP FOÄVTG NG UEÃPCTKQ NG RNWU XTCKUGODNCDNG FOÃXQNWVKQP FGU TÃUGCWZ # VQWU NGU UVCFGU WPG TGRTKUG GP OCKPGUVRQUUKDNGUKNGURTKPEKRCWZCEVGWTULIQWXGTPGOGPVUGVGPVTGRTKUGUL
KPSWKGVUFGUGZEÂUETKOKPCNKVÃQWFGUHTCWFGURKTCVCIGGPXGPCKGPV´QRVGT RQWT WP CWVTG OQFÂNG FG NC UQEKÃVÃ FG NOKPHQTOCVKQP .OQP RQWTTCKV CKPUK CUUKUVGTCXGENGFÃXGNQRRGOGPVFGUVGEJPQNQIKGUFOKFGPVKHKECVKQP ´ NC OKUG GP RNCEG FG XCUVGU TÃUGCWZ RTKXÃU XKTVWGNU QÔ KN HCWFTCKV OQPVTGT nRCVVG DNCPEJG ´ EJCSWG KPUVCPV &CPU EGU TÃUGCWZ UÃEWTKUÃU GV RTQVÃIÃU L FGU KPVTCPGVU OQPFKCWZ L NGU CEVKXKVÃU EQOOGTEKCNGU UG FÃTQWNGTCKGPV GP VQWVG VTCPSWKNNKVÃ VCPFKU SWG NG HKNVTCIG FGU EQPVGPWU ÃXKVGTCKV NGU UWTRTKUGU .GU TÃUGCWZ UG FÃXGNQRRGTCKGPV WP RGW ´ NC OCPKÂTG FG EGU XKNNGU QÔ NOQP UG RTQOÂPG FCPU NGU DGCWZ SWCTVKGTU RQNKEÃU VCPFKU SWG NGU nDCPNKGWGU PWOÃTKSWGUTGUVGTCKGPVNGNKGWFGVQWUNGUCHHTQPVGOGPVU
&ÃL´ NG FÃXGNQRRGOGPV FOCEVKXKVÃU ETKOKPGNNGU OCHKCU VGTTQTKUOG ´ WP OQKPFTG FGITÃ LGWZ GP NKIPG XGPVGU FG UWDUVCPEGU RTQJKDÃGU QW FOCTOGU KPEKVGPV NGU CWVQTKVÃU FQPV EOGUV NG TÏNG ´ UOKPVÃTGUUGT ´ NC UVTWEVWTG FGU TÃUGCWZ .GU TGURQPUCDNGU FGU UGTXKEGU HKUECWZ FG NO1%&' GPVGPFCPV CRRNKSWGT NGU KORÏVU FCPU NG EQOOGTEG ÃNGEVTQPKSWG GP UQPV NQIKSWGOGPV XGPWU ´ ÃVWFKGT NGU OÃECPKUOGU FOQEVTQK FGU PQOU FG FQOCKPGU NKÃU ´ FGU CEVKXKVÃUEQOOGTEKCNGU5KRCTGZGORNGNGUCFTGUUGUFGUOCEJKPGUXGPCKGPV´
ÄVTGFKUVTKDWÃGUUGNQPFGUTÂINGUHKZÃGURCTNGUCWVQTKVÃURWDNKSWGUCXGEFGU RTQEÃFWTGUEQPVTCKIPCPVGURQWTNGUQRÃTCVGWTUNGURGEVTGFGn$KI$TQVJGT
PGUGTCKVRCUNQKP
&OQÔ NOKORQTVCPEG FG ETÃGT FG PQWXGCWZ ÃSWKNKDTGU RQWT VTCEGT WP OQFÂNG FG UQEKÃVÃ FG NOKPHQTOCVKQP QWXGTV TGURGEVWGWZ FGU NKDGTVÃU HCXQTKUCPV NC ETÃCVKQP VQWV GP TGUVTGKIPCPV NGU EQORQTVGOGPVU ETKOKPGNU QW EQPVTCKTGU ´ NC FKIPKVÃ JWOCKPG &G EG RQKPV FG XWG NO7PKQP GWTQRÃGPPG UCPUDGCWEQWRFGOÃFKCVKUCVKQPGUVRCTXGPWGEGUFGTPKÂTGUCPPÃGU´FÃHKPKT WPECFTGFGTÃHÃTGPEGUSWKGPEQWTCIGPVNOKPKVKCVKXGFGUCEVGWTUVQWVGPNGWT CRRQTVCPVFGUTÂINGURQWTQTKGPVGTNGWTCEVKQP.GUFKTGEVKXGUUWTNCUKIPCVWTG PWOÃTKSWGNGEQOOGTEGÃNGEVTQPKSWGNCRTQVGEVKQPFGNCXKGRTKXÃGNGFTQKV FOCWVGWTHQTOGPVGPUGODNGWPGFQEVTKPG´NCSWGNNGNCnOCUUGETKVKSWGFGU RC[U SWK [ CFJÂTGPV FQPPG WPG EGTVCKPG ETÃFKDKNKVÃ 0WN FQWVG SWG NOGHHQTV RQWTRCTXGPKT´FGUTÃUWNVCVUUKOKNCKTGU´NOÃEJGNNGOQPFKCNGTGRTÃUGPVGWPG GPVTGRTKUGRNWUCTFWGOCKUKNGZKUVGWPnTÃHÃTGPVKGNGWTQRÃGP
'PIWKUGFGEQPENWUKQP
2TÃXQKTCPVKEKRGTQTICPKUGTNCIQWXGTPCPEGFGNOKPVGTPGVGUVUCPUFQWVGNG OGKNNGWT UGTXKEG SWG NOQP RWKUUG TGPFTG CW FÃXGNQRRGOGPV FG EGV GZEGRVKQPPGN QWVKN .G UKORNG NCKUUGTHCKTG GPVTCÉPGTC KPÃXKVCDNGOGPV WP EQPVTGEQWR GP TGVQWT CXGE UQKV WPG OWNVKRNKECVKQP FGU EQPHNKVU UQKV NOÃOGTIGPEG FG UQNWVKQPU HGTOÃGU %GTVCKPU KPVÃTÄVU SWK HQPV NOCPCN[UG
EQPUEKGPVG QW RCU FOÄVTG ICIPCPVU FCPU NOWPG QW NOCWVTG J[RQVJÂUG RTÃHÃTGTQPVNOKPCEVKQP
5K NC EQOOWPCWVÃ KPVGTPCVKQPCNG XGWV CHHKTOGT UC ECRCEKVÃ FG RTQRQUGT WPG EQPXKXKCNKVÃ OQPFKCNG UWT NGU TÃUGCWZ KN NWK HCWFTC VTÂU VÏV FÃHTKEJGT SWGNSWGURKUVGU
LFÃNKOKVGTNGURTKPEKRCWZGPLGWZRTQVGEVKQPFGNCXKGRTKXÃGNWVVGEQPVTG NCE[DGTETKOKPCNKVÃFTQKVUFOCWVGWTUGVRTQRTKÃVÃKPVGNNGEVWGNNGW
LRQUGT FGU RTKPEKRGU IÃPÃTCWZ UQWU NC HQTOG FG VGZVGU UQWRNGU GP VGPVCPVFGHKZGTNGUÃSWKNKDTGUEQTTGURQPFCPV´NOKPVÃTÄVIÃPÃTCNRQWTSWGNGU NÃIKUNCVKQPUGVRTCVKSWGUXKGPPGPVRTQITGUUKXGOGPVUO[KPUÃTGT
LHCKTGCRRGNFCPUEGRTQEGUUWU´FGUKPUVCPEGUNÃIÂTGUFGEQPUGKNGVFG OÃFKCVKQP TGITQWRCPV FGU UGPUKDKNKVÃU FKXGTUGU VCPV RTQHGUUKQPPGNNGU SWG IÃQITCRJKSWGU HQPEVKQPPCPV GP TÃUGCW GV EQQTFQPPÃGU ´ NOÃEJGNNG FGU 0CVKQPUWPKGU
LEQPEGXQKT FGU RTQEÃFWTGU URÃEKHKSWGU FOCEETÃFKVCVKQP FGU NQIKEKGNU nPQTOCVKHUCHKPFGNGWTEQPHÃTGTWPGNÃIKVKOKVÃSWKPGUQKVRCUUGWNGOGPV EGNNGFGUOCTEJÃU
#WFGN´FGUFÃDCVUVGEJPKSWGUEGUQPVDKGPGPFÃHKPKVKXGFGUTÃHÃTGPEGU GP VGTOGU FG XCNGWTU GV FG RTKPEKRGU SWG NC EQOOWPCWVÃ KPVGTPCVKQPCNG FGXTC ÄVTG ECRCDNG FG RQUGT RQWT HQPFGT WPG UQEKÃVÃ FG NOKPHQTOCVKQP VTCFWKUCPVWPGHQTOGFOJWOCPKUOGOQFGTPG
