Professional Documents
Culture Documents
HUVWLQ*LHU
7U\ORJLDF]DVX&]WU]HFLD
=,(/(6=0$5$*'8
3URORJ
%HOJUDYLD/RQG\Q
OLSFDURNX
%G]LHSDVNXGQDEOL]QDR]QDMPLOHNDU]RSDWUXMF3DXORZLUDQ
3DXOXPLHFKQVLNU]\ZR
7DN F]\ RZDN OHSV]H WR QL DPSXWDFMD NWyU SURURNRZDD SDQQD
3DQLNDUD
%DUG]R PLHV]QH SU\FKQD /XF\ 1LH MHVWHP SDQLNDU D W\ SDQLH
*XSNX /HNNRP\OQ\ QLH UyE VRELH DUWyZ 'REU]H ZLHV] MDN V]\ENR WDNLH
UDQ\PRJXOHF]DNDHQLXDZWHG\WU]HEDE\VLFLHV]\HF]RZLHNZRJyOH
SU]H\ Z W\FK F]DVDFK ]HUR DQW\ELRW\NyZ D ZV]\VF\ OHNDU]H WR SDUWDF]H L
LJQRUDQFL
2FK ZLHONLH G]LNL PUXNQ OHNDU] VPDUXMF ZLHR ]V]\W UDQ
EU]RZDZPDFL
2NURSQLH SLHNR L 3DXO ] WUXGHP SRZVWU]\PD VL RG JU\PDVX 0LD W\ONR
QDG]LHMHQLHSRSODPLHOHJDQFNLHJRV]H]ORQJXODG\7LOQH\
7R QLH SDQD ZLQD SRZLHG]LDD /XF\ L 3DXO ]DXZD\ H EDUG]R VL
VWDUDD E\ QLHFR PLOV]D D QDZHW ]PXVLD VL GR XPLHFKX 7R E\ GR
SRQXU\XPLHFKDOHOLF]\\VLFKFL
-HVWHPSU]HNRQDQ\HURELSDQWRFRQDMOHSV]HGRGDD
'RNWRU+DUULVRQMHVWQDMOHSV]\]DSHZQLDODG\7LOQH\
,MHG\Q\PUXNQ3DXO
1DJOH SRF]X VL QLHZLDU\JRGQLH ]PF]RQ\ : W\P VRGNDZ\P S\QLH
NWyU\PQDSRLJROHNDU]PXVLDE\MDNLURGHNQDVHQQ\
3U]HGH ZV]\VWNLP QDMEDUG]LHM G\VNUHWQ\ X]XSHQL GRNWRU +DUULVRQ
5DPL3DXOD]QLNQRSRGQLHQRELD\PRSDWUXQNLHP,V]F]HU]HPyZLF
QLHEDUG]RSRWUDILVRELHZ\REUD]LH]DRVLHPG]LHVLWODWUDQ\NXWHLFLWH
EG]LHVLRSDWU\ZDRLQDF]HMQLMDWR]URELHP
/XF\Z]LDJERNLZGHFKL3DXOMXVLGRP\ODFRWHUD]QDVWSL
.RVP\N ZRVyZ Z\VXQ MHM VL ] XSLWHM Z\VRNR IU\]XU\ ZLF ] ERMRZ
PLQRGJDUQDJR]DXFKR
+P ] JUXEV]D U]HF] ELRUF PRH L QLH DOH MHOL EDNWHULH WR V WDNLH
MHGQRNRPyUNRZHRUJDQL]P\NWyUH
2FK GDM VSRNyM /XF\ ZSDG MHM Z VRZR 3DXO 'RNWRU +DUULVRQ
GRVNRQDOHZLHFRWRVEDNWHULH
5DQD ZFL MHV]F]H VWUDV]OLZLH SLHND D MHGQRF]HQLH F]X VL WDN
Z\F]HUSDQ\ H QDMFKWQLHM E\ VL ]GU]HPQ $OH WR E\ MHV]F]H EDUG]LHM
]GHQHUZRZDR /XF\ &KR MHM ENLWQH RF]\ V\SD\ JQLHZQH LVNU\ 3DXO
ZLHG]LDH]DJQLHZHPNU\MHVLWURVNDLFRJRUV]DVWUDFK=HZ]JOGXQD
QL QLH PyJ GRSXFL GR WHJR E\ ]DXZD\D MHJR ]H VDPRSRF]XFLH F]\
REDZ\6SRNRMQLHPyZLZLFGDOHM
3U]HFLH WR QLH MHVW UHGQLRZLHF]H W\ONR GZXG]LHVW\ ZLHN VWXOHFLH
SU]HRPRZ\FK RGNU\ (.* QLH MHVW MX WDN VHQVDFM RG NLONX ODW OHNDU]H
]QDMWDNHEDNWHULHNL\LSRWUDIL]QLPLZDOF]\
1R SURV] NWR WX SLOQLH XZDD QD WDMQ\FK QDXNDFK 7HUD] /XF\
Z\JOGDDWDNMDNE\PLDD]DFKZLOZ\EXFKQ7ZRMHV]F]FLH
$ Z ]HV]\P URNX QLHMDND 0DULD &XULH RWU]\PDD 1DJURG 1REOD Z
G]LHG]LQLHFKHPLLGRU]XFLGRNWRU+DUULVRQ
=DUD]DFRRQDWDNLHJRZ\QDOD]D"%RPEDWRPRZ"
&]DVDPL MHVWH SU]HUDDMFR VDER Z\HGXNRZDQD 0DULD &XULH RGNU\D
SURPLH
2FK]DPNQLMVL/XF\VNU]\RZDDUFHQDSLHUVLSDWU]FJQLHZQLHQD
3DXOD 1DZHW QLH ]DXZD\D NDUFFHJR VSRMU]HQLD ODG\ 7LOQH\ &KZLORZR
GDUXMVRELHWHVZRMHZ\NDG\0RJH
-X 3U]HFLH 1LH \ &]\ PRHV] PL DVNDZLH ]GUDG]L MDN EH] FLHELH
PLDDE\P]DSRELHFNDWDVWURILH"1DJOHJRVMHMVL]DDPD-DNPLDDE\P
GDOHM\EH]FLHELH"
3U]\NURPLNVLQLF]NR
1LHPLDDSRMFLDMDNEDUG]RE\RPXSU]\NUR
3KLSU\FKQD/XF\'DUXMVRELHWDRVQPLQ]ELWHJRSVD
=DVWDQDZLDQLH VL QDG W\P FR E\ E\R JG\E\ WR F]\VWD VWUDWD F]DVX
PRMH G]LHFNR RGH]ZDD VL ODG\ 7LOQH\ SRWU]VDMF JRZ 3RPRJD
2Q PL WR RELHFD FKFLD SRZLHG]LH 3DXO DOH Z\GRE\ ] VLHELH MHG\QLH
EH]JRQ\ V]HSW $ SR]D W\P WR L WDN E\RE\ NDPVWZR 3U]HFLH Z RJyOH QLH
XV\V]DRGSRZLHG]L*LGHRQD
:VSySUDFD]6RMXV]HP)ORUHQFNLPWRE\JXSLSRP\VGRELHJJRJRV
/XF\
2F]\ PX VL ]DPNQ\ 1LH ZLHG]LD FR ]DDSOLNRZD PX GRNWRU +DUULVRQ
DOHG]LDDRE\VNDZLF]QLH
7DNZLHPPyZLDGDOHM/XF\7RE\PyMJXSLSRP\V3RZLQQLP\
E\OLZ]LVSUDZ\ZVZRMHUFH
7\ONRHQLHMHVWHFLHPRUGHUFDPLG]LHFNRSRZLHG]LDDODG\7LOQH\
&]\ SRGZ]JOGHP PRUDOQ\P WRMDND UyQLFD ]DEL VDPHPX F]\ ]OHFL
NRPX]DEyMVWZR"
/XF\ ZHVWFKQD FLNR L FKR ODG\ 7LOQH\ JZDWRZQLH ]DSU]HF]\D 1LH
PyZ WDNLFK U]HF]\ G]LHZF]\QR 1LH ]OHFLOLFLH QLNRPX ]DEyMVWZD W\ONR
SU]HND]DOLFLH SDU LQIRUPDFML MHM JRV QDJOH QDEUD DRVQHM EDUZ\
1DSUDZG ZV]\VWNR ]URELOLP\ QLH WDN 3DXO 3U]H] WH WU]\ PLHVLFH
]PDUQRZDOLP\PDVF]DVXLSLHQLG]\ODG\7LOQH\DSR]DW\PZFLJQOLP\
ZWVSUDZ]E\WZLHOXOXG]L
7R SLHQLG]H ORUGD 7LOQH\D SRSUDZLD M ODG\ 7LOQH\ =G]LZLDE\ VL
JG\E\ ZLHG]LDD QD FR RQ Z\GDMH SLHQLG]H :\FLJL NRQQH L WDQFHUNL WR
QDMEDUG]LHM QLHZLQQH SR]\FMH : RJyOH QLH ]DXZD\ WHM RGURELQ\ NWyU PX
XV]F]NQ GOD GREUD QDV]HM VSUDZ\ $ MHOL QDZHW WR SHZQLH MHVW
Z\VWDUF]DMFRGREU]HZ\FKRZDQ\E\QLHZVSRPQLHRW\PDQLVRZHP
$MDRVRELFLHRJURPQLHE\PDRZDJG\E\PQLH]RVWDZFLJQLW\ZW
VSUDZRGH]ZDVLGRNWRU+DUULVRQ0RMH\FLH]DF]RPQLHMXZDQLH
WURFKQXG]L:NRFXQLHFRG]LHF]RZLHNVSRW\NDSRGUyQLNyZZF]DVLH
NWyU]\SU]\E\ZDM]SU]\V]RFLLZV]\VWNRZLHG]OHSLHM
$WDNPLG]\QDPLVW\OU]G]HQLDSDQyZGH9LOOLHUVL3LQNHUWRQ6P\WKHD
VLSURVLRWRHE\VLSU]HFLZQLP]EXQWRZD
:U]HF]\VDPHM]JRG]LDVLDG\7LOQH\7HQ]DUR]XPLDOHF-RQDWKDQ
]DJUR]LVZHMRQLHH]DPNQLHMZGRPXMHOLQLHSU]HVWDQLHV\PSDW\]RZD
] VXIUD\VWNDPL &R EG]LH QDVWSQH" GRU]XFLD QDODGXMF ]U]GOLZ\
PVNLJRV3UDZDZ\ERUF]HGODSVyZ"
.URQLNDFKQLHPDDQLVRZDRZL]\FLH]SU]\V]RFLPRQD]DWHP]DR\H
QDV]DREHFQRQLJG\QLH]RVWDQLH]DXZDRQD7DNMDNQDOHDRWHJR
RF]HNLZDODG\7LOQH\VSU]HFLZLDVL]PLDQLHXWDUW\FKQDZ\NyZLMDNVDPD
SRZLHG]LDDQLH]GRDD]QDOHDGQHMORJLNLZQDV]\FKDUJXPHQWDFKOHF]
QDNRQLHFPXVLDDVLSRGSRU]GNRZDGHF\]ML:LHONLHJR0LVWU]D&]DVZRMQ\
Z\PDJDQLHNLHG\Z\MWNRZ\FKURGNyZ(ODSVMDG]LSRSRXGQLXGRURNX
SU]HELHJDQDGVSRG]LHZDQLHVSRNRMQLHE\PRHGODWHJRHPRMD
]DSRELHJOLZDPDRQNDGDODQDPVZyMQLH]UyZQDQ\NHNVLGODWHJRH
SDPLWDMFJRUFHGHEDW\SU]\LQQ\FKRND]MDFKXQLNDOLP\WDNLFKWHPDWyZ
MDNSUDZDZ\ERUF]HGODNRELHW/DG\7LOQH\DRZDDZSUDZG]LHHQLH
PRHP\XGDVLGR+\GH3DUNXQD:\VWDZZLDWRZDOHSRQLHZDZ
SHQLSRG]LHODOLP\MHMDOUR]PRZDQLHSU]HURG]LDVLZVSyU3URSRQXMF
QDPE\P\RGMXWUD]DMOLVRELHF]DVJUZSRNHUD]DSUH]HQWRZDDMHGQDN
SRQRZQLHVZRMHNVFHQWU\F]QQDWXU
3RJRGDQDG]LVLDMOHNNDPDZNDSU]\ZLRVHQQHMWHPSHUDWXU]HVWRSQL
&HOVMXV]D
5DSRUW7LPRWK\GH<LOOLHUV.UJ:HZQWU]Q\
5R]G]LD,
2VWU]H PLHF]D E\R VNLHURZDQH SURVWR Z PRMH VHUFH D RF]\ PRUGHUF\
SU]\SRPLQD\ F]DUQH G]LXU\ JURFH SRFKRQLFLHP ZV]\VWNLHJR FR W\ONR
]QDMG]LH VL Z LFK SREOLX :LHG]LDDP H QLH XGD PL VL XFLHF = WUXGHP
FRIQDP VL R NLOND NURNyZ DOH PF]\]QD QDW\FKPLDVW ]QyZ VL GR PQLH
SU]\VXQ
=PLRW]REOLF]DWHM]LHPLZV]\VWNRFRQLHFKFLDQHMHVWSU]H]%RJD7ZRMD
NUHZ]URVL]LHPL
1DNRFXM]\NDPLDDPSU]\QDMPQLHMGZLHFLWHULSRVW\QDWRJyUQRORWQH
U]HQLH=URVL]LHPL"
H FR" 7X V VDPH NDIOH DOH ]GMWD SDQLN QLH ]GRDDP Z\NU]WXVL DQL
VRZD 7HQ F]RZLHN QLH Z\JOGD MDN NWR NWR SRWUDILE\ GRFHQL PRMH
SRF]XFLHKXPRUX$QLMDNNWRNWRZRJyOHMHPD
&KZLHMFVLSRVWSLDPMHV]F]HMHGHQNURNZW\LRSDUDPVLSOHFDPLR
FLDQ 0yM SU]HFLZQLN VL ]DPLD 1R GREUD PRH PLD SRF]XFLH KXPRUX
W\ONRWURFKLQQHQLMD
7HUD] XPU]HV] GHPRQLH Z\NU]\NQ L EH] GDOV]\FK FHUHJLHOL ]DWRSL
PLHF]ZPRLPVHUFX
3RGVNRF]\DP]NU]\NLHP%\DPFDDVSRFRQDLERODRPQLHVHUFHMDNE\P
IDNW\F]QLH ]RVWDD SU]HV]\WD RVWU]HP &y ]D SDVNXGQ\ VHQ 6ZRM GURJ
F]\SRZLQQRPQLHWRG]LZL"
:F]RUDMV]H SU]H\FLD L GRZLDGF]HQLD SRSU]HGQLFK GQL QLH VNDQLD\ GR
WHJR E\ ]DJU]HED VL ] QLPL SRG NRGHUN L ]DVQ VQHP VSUDZLHGOLZHJR
5DF]HME\RWDNHQLHFKFLDQHP\OLNEL\PLVLZJRZLHQLF]\PZFLHNH
PLVRHUQH UROLQ\ *LGHRQ W\ONR XGDZD 7DN QDSUDZG ZFDOH PQLH QLH
NRFKD
=DSHZQH QLH PXVLUREL QLHPDO QLF DG]LHZF]\Q\ LWDN ]DQLP V]DOHM
UD] ]D UD]HP V\V]DDP Z P\ODFK DJRGQ\ JERNL JRV KUDELHJR GH 6DLQW
*HUPDLQ , MHV]F]H 1LH PD QLF EDUG]LHM SU]HZLG\ZDOQHJR RG UHDNFML
]DNRFKDQHMNRELHW\
-DVQH D MDN UHDJXMH NRELHWD JG\ GRZLDGXMH VL H ]RVWDD RNDPDQD L
]PDQLSXORZDQD" :LDGRPR JRG]LQDPL ZLVL QD WHOHIRQLH ] QDMOHSV]
7DNPDUFHSDQPLHUWHOQLHSRZDQLHSRZWyU]\D/HVOLH7DNLGREU\]
GXLORFLPLJGDyZ
2PDOQLHSDUVNQDPPLHFKHP$OHSRWHPSU]\SRPQLDRPLVLHMHVWHP
QDMEDUG]LHMQLHV]F]OLZG]LHZF]\QQDFD\PZLHFLH
-HOL WDN MHVW RGU]HNDP SRFLJDMF QRVHP WR *LGHRQ RGJU\] PL
NDZDHN VHUFD , RVNXED MH ] FDHM F]HNRODG\ 1LH ZLG]LDD MDN SDWU]\
NLHG\SU]HUZDDP
/HVOLHJRQRZHVWFKQD
*ZHQQ\ SU]\NUR PL WR PyZL DOH WZRMH MNL QLNRPX QD QLF VL QLH
]GDG]0XVLV]SU]HVWD
1LH UREL WHJR VSHFMDOQLH ]DSHZQLDP M 7R PRMH ZQWU]H MF]\ EH]
XVWDQNX : MHGQHM FKZLOL E\DP QDMV]F]OLZV] G]LHZF]\Q QD ZLHFLH D
SRWHPRQPLPyZLH
2NHM*LGHRQ]DFKRZDVLMDNGUDZSDGDPLZVRZR/HVOLH&KR
WUXGQR ]UR]XPLH GODF]HJR %R QLE\ R FR FKRG]L" =H DWZLHM NLHURZD
]DNRFKDQ G]LHZF]\Q" -D E\P SRZLHG]LDD H MHVW GRNDGQLH RGZURWQLH
=DNRFKDQHG]LHZF]\Q\VMDNW\NDMFHERPE\]HJDURZH1LJG\QLHZLDGRPR
FR L NLHG\ ]UREL 0RLP ]GDQLHP *LGHRQ L MHJR SU]\MDFLHO KUDELD V]RZLQLVWD
JUXERVLP\O
-D QDSUDZG P\ODDP H RQ PQLH NRFKD $ WR H W\ONR XGDZD MHVW
WDNLH:VWUWQH"2K\GQH"
&K\ED QLH E\R VRZD NWyUH Z\VWDUF]DMFR WUDIQLH Z\UDDRE\ PRMH
XF]XFLD
2FKNRFKDQLH:LQQ\FKRNROLF]QRFLDFKMHOLRPQLHFKRG]LPRJDE\
VL MHV]F]H FD\PL W\JRGQLDPL RGGDZD UR]SDF]\ $OH WHUD] SR SURVWX QLH
PRHV]VRELHQDWRSR]ZROL3RWU]HEXMHV]VLGRLQQ\FKU]HF]\1DSU]\NDG
HE\ SU]H\ *RV /HVOLH EU]PLD QLH]Z\NOH VXURZR :LF ZH VL WHUD] ]
DVNLVZRMHMZJDU
;HPHULXVWHPLWRPyZL=DQLPVL]HUZDL]RVWDZLPQLHVDP
7HQ PD\ QLHZLG]LDOQ\ SRWZRUHN PD UDFM 0XVLP\ WHUD] ]DFKRZD
MDVQR XP\VX L ]HEUD ZV]\VWNLH IDNW\ )XM D WR FR" 3RF]HNDM PXV]
RWZRU]\
RNQR
%HUWLH
SXFL
ZDQLH
MHGQHJR
]
W\FK
VZRLFK
REH]ZDGQLDMF\FKENyZQLHGREU\SLHV1DF]\PVNRF]\DP"1RZDQLH
PXVLP\VLGRZLHG]LHFRWZyMG]LDGHNXNU\ZZDV]\PGRPX7HUD]/HVOLH
PyZLDQLHFRDJRGQLHMV]\PWRQHP3RZLHG]LDDE\PH5DSKDHORND]DVL
FDNLHPSR\WHF]Q\0RHQLHMHVWZFDOHWDNLJXSLMDNZV]\VF\P\O
&K\ED MDN W\ P\OLV] 5DSKDHO E\ PRGV]\P EUDWHP *LGHRQD L RG
QLHGDZQDFKRG]LGRQDV]HMV]NR\2GNU\HZ]DJDGFHNWyUSR]RVWDZLPL
G]LDGHNFKRG]LRRZVSyU]GQHJHRJUDILF]QH
2QH ]D SURZDG]L\ ZSURVW GR QDV]HJR GRPX %DUG]R FKFLDDE\P
ZLHG]LHQDLOH5DSKDHORULHQWXMHVLZWDMHPQLFDFK6WUDQLNyZLSRGUyDFK
*LGHRQDZF]DVLH
3HZQLH OHSLHM QL PRQD E\RE\ SU]\SXV]F]D SRZLHG]LDD /HVOLH :
NDG\PUD]LHQLHXZLHU]\ZPRMKLVWRU\MNHZ/RQG\QLHSDQXMHZDQLH
PRGDQDJU\PLVWHU\$OHE\QDW\OHPGU\HE\RQLFQLHS\WD8PLOND
DSRFKZLOLGRGDD0DGRDGQHRF]\
)DNW\F]QLH
-HJRRF]\E\\QDSUDZGDGQHFRSU]\SRPQLDRPLRW\PH*LGHRQPD
WDNLHVDPH=LHORQHRNRORQHJVW\PLFLHPQ\PLU]VDPL
1LHURELWRQDPQLHMDNLHJRNROZLHNZUDHQLDMDW\ONRVWZLHUG]DPIDNW
=DNRFKDHPVLZWRELH*LGHRQPyZLWR]XSHQLHSRZDQLHSDWU]FPL
SU]\ W\P SURVWR Z RF]\ $ MD JDSLDP VL QD QLHJR ZLHU]F Z NDGH VRZR
]\]DF]\PL]QRZXS\QLSUDZLHQLHV\V]DDPFRPyZLGRPQLH/HVOLH
DOH PDP QDG]LHM H WR GXJL OLVW DOER FR Z URG]DMX SDPLWQLND Z
NWyU\P G]LDGHN WXPDF]\ FL ZV]\VWNR FR XNU\ZDM SU]HG WRE SR]RVWDOL L
MHV]F]H WURFK ZLFHM 1LH PXVLD\E\P\ MX EG]L SR RPDFNX L
PRJ\E\P\SU]\JRWRZDSUDZG]LZ\SODQ
3RZLQQR VL ]DEURQL SRVLDGDQLD WDNLFK RF]X $OER QDOHDRE\ XFKZDOL
XVWDZ ]JRGQLH ] NWyU FKRSF\ ] WDNLPL SLNQ\PL RF]DPL PRJOLE\ FKRG]L
W\ONRZ FLHPQ\FK RNXODUDFK &K\ED H GOD UyZQRZDJLPLHOLE\ RJURPQH ROH
XV]\F]\FRZW\PVW\OX
*ZHQQ\" &K\ED ]QRZX QLH U\F]\V] FR" 7HUD] JRV /HVOLH ]DEU]PLD
]XSHQLHMDNJRVSDQQ\
&RXQWHU QDV]HM QDXF]\FLHONL JHRJUDILL NLHG\ VL MHM PyZLR H QLHVWHW\
]DSRPQLDRVL]DGDQLDGRPRZHJR.RFKDQLHWRQLHGREU]H0XVLV]SU]HVWD
G]LXUDZLVRELHSLHURVWU]HPWHJRGUDPDWX
0XVLP\
]DFKRZD]LPQNUHZ0DV]UDFM
&KR NRV]WRZDR PQLH WR VSRUR Z\VLNX VSUyERZDDP SU]HJQD ] JRZ\
ZVSRPQLHQLHRF]X
*LGHRQD L QDGD PRMHPX WRQRZL RGURELQ SHZQRFL 3R SURVWX E\DP WR
ZLQQD /HVOLH : NRFX WR RQD QLNW LQQ\ EH] PUXJQLFLD RNLHP ZVSLHUDD
PQLH RG ZLHOX GQL 'ODWHJR QLP VL UR]F]\D SR SURVWX PXVLDDP MHM
MHV]F]HSRZLHG]LHMDNEDUG]RVLFLHV]HMPDPFKR]DF]DPSU]\W\P
]QRZXWURFKSDNDDOHW\PUD]HP]HZ]UXV]HQLD
$ FR GRSLHUR MD ]DSHZQLD PQLH /HVOLH -DNLH QXGQH E\RE\ PRMH
\FLHEH]FLHELH
.LHG\VLUR]F]\\P\GRFKRG]LDSyQRFLSU]H]NLONDPLQXWF]XDPVL
WURFK OHSLHM DOH WHUD] G]LHVL SR WU]HFLHM QDMFKWQLHM ]QRZX E\P GR QLHM
]DG]ZRQLDHE\ZV]\VWNRSU]HURELRGQRZD
= QDWXU\ UDF]HM QLH MHVWHP SDF]OLZD DOH SR UD] SLHUZV]\ Z \FLX E\DP
QLHV]F]OLZLH]DNRFKDQD
7R ]QDF]\ WDN QDSUDZG QLHV]F]OLZLH ]DNRFKDQD 7DN H D EROL
:V]\VWNR LQQH ]HV]R QD GDOV]\ SODQ 1DZHW NZHVWLD SU]H\FLD VWDD VL
GUXJRSODQRZD %R V]F]HU]H PyZLF P\O R PLHUFL ZFDOH QLH E\D Z W\P
PRPHQFLH D WDN QLHPLD : NRFX QLH E\DE\P SLHUZV]D NWyUD XPDUD ]
QLHV]F]OLZHM PLRFL =QDOD]DE\P VL Z GRERURZ\P WRZDU]\VWZLH 0DD
6\UHQND-XOLD
3RFDKRQWDV 'DPD .DPHOLRZD PDGDPH %XWWHUIO\ D WHUD] WDNH MD
*ZHQGRO\Q6KHSKHUG3OXVHPE\RWRHPRJDE\PVRELHGDURZDQXPHU]
RVWU]HP GUDPDWX ER F]XDP VL WDN SDVNXGQLH H QD SHZQR ]DSDGDE\P
QDVXFKRW\DSU]HFLHWDNDPLHUMHVW]QDF]QLHEDUG]LHMPDORZQLF]D
/HDDE\P Z yNX EODGD QLF]\P NUyOHZQD QLHND ] ZRVDPL
UR]U]XFRQ\PL QD SRGXV]FH *LGHRQ NOF]DE\ RERN PQLH L JRU]NR DRZD
WHJRFRXF]\QLSRGF]DVJG\MDV]HSWDDE\PVZRMHRVWDWQLHVRZD
$OHQDMSLHUZPXVLDDPSyMGRD]LHQNL
0LWRZD KHUEDWD ] GX LORFL FXNUX L F\WU\Q\ E\D Z PRMHM URG]LQLH
XQLZHUVDOQ\P OHNLHP QD ZV]HONLH WURVNL Z\SLDP MHM FD\ G]EDQHN 0RMD
PDPD RG UD]X OHGZLH VWDQDP Z GU]ZLDFK ]DXZD\D H QLH F]XM VL
GREU]H7R QLH E\R Z\MWNRZH RVLJQLFLH ER SR WDN GXJLP SDF]X PLDDP
RF]\ MDN NUyOLN DOELQRV 1D SHZQR E\ PL QLH XZLHU]\D H Z WUDNFLH MD]G\ ]
NZDWHU\ JyZQHM 6WUDQLNyZ GR GRPX PXVLDDP Z OLPX]\QLH NURL FHEXO
7DNERZLHPZ\PyZN]DSURSRQRZDPL;HPHULXV
&]\ FL SU]HNOFL 6WUDQLF\ ]URELOL FL FR ]HJR" &R VL VWDR" VS\WDD
GRNRQXMFU]HF]\ZLHONLHMWR]QDF]\URELFPLQSHQZVSyF]XFLDL]DUD]HP
EH]EU]HQHMZFLHNRFL=DELM)DONDMHOL
1LNWQLH]URELPLQLF]HJRPDPRSRVSLHV]\DP]Z\MDQLHQLHPQLF
VLQLHVWDR
8ZDDM ER FL XZLHU]\ &]HPX QLH RSRZLHG]LDD WHJR R FHEXOL"7\ PQLH
QLJG\QLHVXFKDV];HPHULXVWXSQJQLHZQLHD]DGXGQLR
%\PD\PNDPLHQQ\PGHPRQHPJDUJXOFHP]GX\PLXV]DPLVNU]\GDPL
QLHWRSHU]D GXJLP SRNU\W\P XVNDPL VPRF]\P RJRQHP L SDU QLHZLHONLFK
URJyZQDJRZLHSU]\SRPLQDMFHMHENRWD
1LHVWHW\ E\ W\ONR Z SRRZLH WDN PL\ MDN OLF]Q\ L QLHVWHW\ QLNW RSUyF]
PQLH QLH V\V]D MHJR EH]F]HOQ\FK XZDJ L QLH PyJ PX VL RGSRZLHGQLR
]UHZDQRZD 7R H ZLG]LDDP GHPRQ\JDUJXOFH L LQQH GXFK\ L H RG
ZF]HVQHJR G]LHFLVWZD PRJDP ] QLPL UR]PDZLD E\R QDZLDVHP PyZLF
W\ONR MHGQ ] W\FK G]LZDF]Q\FK FHFK ] NWyU\PL PXVLDDP QDXF]\ VL \
'UXJDE\DMHV]F]H EDUG]LHMG]LZDF]QDLVDPDZLHG]LDDPRQLHM]DOHGZLHRG
GZyFK W\JRGQL D PLDQRZLFLH QDOHDDP GR WDMQHJR NUJX GZDQDFLRUJD
SRGUyQLNyZ Z F]DVLH L FRG]LHQQLH PXVLDDP QD NLOND JRG]LQ SU]HVNDNLZD
JG]LHZSU]HV]R:DFLZLHWRSU]HNOHVWZRWIXWHQGDUXPLHMWQRFL
SU]HQRV]HQLDVLZF]DVLHPLDDRG]LHG]LF]\PRMDNX]\QND&KDUORWWDNWyUD
QDGDZDDE\ VL GR WHJR ]QDF]QLH EDUG]LHM DOH RND]DR VL H SDGR ZDQLH
QD PQLH : JUXQFLH U]HF]\ SRZLQQDP E\D R W\P ZLHG]LH RG VDPHJR
SRF]WNXERWRPQLH]DZV]HWUDILDVL&]DUQ\3LRWUXZVHQVLHSU]HQRQ\P
.LHG\ FLJQOLP\ JZLD]GNRZH ORV\ ]DZV]H GRVWDZDDP NDUWHF]N ]
QD]ZLVNLHPQDXF]\FLHONLDFRQDPLRERVNPRQDNXSLQDXF]\FLHOFH"
NLHG\ PLDDP ELOHW\ QD NRQFHUW OXE ZDQLH F]HNDDP QD Z\MD]G QD
ZVSDQLDHZDNDFMHQDEDQNE\DPFKRUDDNLHG\]DOHDRPLQDW\PHE\
Z\JOGD V]F]HJyOQLH GREU]H QD F]ROH Z\VNDNLZD PL SU\V]F] ZLHONRFL
WU]HFLHJR RND 3RGUyH Z F]DVLH WUXGQR FR SUDZGD SRUyZQD ] SU\V]F]DPL L
PRJVLRQHQDZHWZ\GDZDF]\PJRGQ\PSR]D]GURV]F]HQLDL]DEDZQ\P
DOH ZFDOH WDNLH QLH V 6 UDF]HM XFLOLZH Z\NDF]DMFH QHUZRZR L
QLHEH]SLHF]QH1LH]DSRPLQDMP\WHRW\PHJG\E\PQLHRG]LHG]LF]\DWHJR
LGLRW\F]QHJR GDUX QLJG\ QLH VSRWNDDE\P *LGHRQD FR ]QDF]\RE\ H PRMH
VHUFH ] PDUFHSDQD F]\ QLH E\RE\ ZFL FDH 7HQ GUD E\ PLDQRZLFLH
MHGQ\P]GZDQDFLRUJDSRGUyQLNyZZF]DVLH-HGQ\P]QLHOLF]Q\FKNWyU]\
MHV]F]H\OL3R]RVWD\FKPRQDE\RVSRWNDW\ONRZSU]HV]RFL
3DNDDSRZLHG]LDDU]HF]RZRPDPD
$ ZLG]LV] ]DZRD ;HPHULXV 7HUD] Z\FLQLH FL MDN F\WU\Q QLH
VSXFL]RNDQDZHWQDVHNXQGLQLFL]SRV]XNLZDVNDUEXG]LVLDMZQRF\
0LDDP RFKRW ]UREL GR QLHJR PLQ HE\ SRND]D H G]L Z QRF\ QLH
]DPLHU]DPV]XNDVNDUEX
&]\OL ]DFKRZD VL MDN F]RZLHN ZREHF QLHZLG]LDOQ\FK SU]\MDFLy JG\ QLH
FKFHHE\LQQLZ]LOLJR]DZDULDWDERJDGD]SRZLHWU]HP
3RZLHG] MHM H VSUDZG]DD VSUD\ SLHSU]RZ\ L SU]H] SRP\N SU\VQD
VRELHZRF]\]DVNU]HF]DRSRZLHWU]H
%\DPMHGQDN]DEDUG]RZ\F]HUSDQDE\V]XNDZ\PyZHN6SRMU]DDPQD
PDP]D]DZLRQ\PLRF]DPLLVSUyERZDDPSRSURVWXSRZLHG]LHMHMSUDZG
2F]\ZLFLHSRPLMDMFFRQLHFR
7R W\ONR QLH F]XM VL GREU]H ER WDNLH WDP G]LHZF]\VNLH VSUDZ\
UR]XPLHV]
2FKVNDUELH
-DN]DG]ZRQLGR/HVOLH]DUD]SRF]XMVLOHSLHM
.X PRMHPX L ;HPHULXVD ZLHONLHPX ]G]LZLHQLX PDPD ]DGRZROLD VL W\P
Z\MDQLHQLHP =DSDU]\D PL KHUEDW SRVWDZLD G]EDQHN ZUD] ] PRM
XOXELRQILOLDQNZJURV]NLQDQRFQ\PVWROLNXSRJDVNDDPQLHSRJRZLH
D SRWHP ]RVWDZLD Z VSRNRMX 2E\R VL QDZHW EH] ]Z\F]DMRZ\FK
NRPXQLNDWyZ JRG]LQRZ\FK *ZHQ -HVW SR G]LHVLWHM UR]PDZLDV] MX RG
F]WHUG]LHVWX PLQXW 3U]HFLH ]REDF]\FLH VL MXWUR Z V]NROH &]DVHP
QDSUDZGE\DQDMOHSV]PDPQDZLHFLH
:]G\FKDMF]ZLHVLDPQRJL]yNDZVWDDPLSRZORNDPVLZNLHUXQNX
D]LHQNL2PLyWPQLHFKRGQ\SRGPXFK
%DUG]R FKFLDDP ZLHG]LH FR G]L ZLHF]RUHP UREL *LGHRQ -DN WDP MHJR
UDPL" $ PRH ] NLP R PQLH UR]PDZLD" 1D SU]\NDG Z VW\OX 7R MHGQR
ZLHONLHQLHSRUR]XPLHQLH2F]\ZLFLHHNRFKDP
*ZHQGRO\Q1LJG\SU]HGQLQLF]HJRQLHXGDZDHP
1LHQLHQDWRQLHGDPVLQDEUD;HPHULXVUR]R\VNU]\GDLVIUXQ
QDSRGRJ6LHG]FSU]HGHPQVLJDPLGRNRODQ$OHWRQLHWDNHPQLH
FDNLHPQLHE\R'RNDGQLHUR]HMU]DHPVLSRGRPX-HOLNWRPRH]QDOH
WHQVNDUEWRW\ONRMD-XFKRE\GODWHJRHQLNW]ZDVQLHSRWUDILSU]HQLND
SU]H]FLDQ\$OERVSOGURZDV]XIODGWZRMHMEDENLWDNHE\JRQLH]DSDQR
%\FLH QLHZLG]LDOQ\P PXVL SU]HFLH PLH WDNH MDNLH ]DOHW\ U]HNDP
QLH GRGDMF MX H RQ Z RJyOH QLF QLH PRH VSOGURZD SRQLHZD VZRLPL
SD]XUDPLQLHMHVWZVWDQLHRWZRU]\V]XIODG\
DGHQ ] GXFKyZ MDNLH GRWG VSRWNDDP QLH SRWUDIL SRUXV]D
SU]HGPLRWyZ :LNV]RFL QLH XGDZDR VL QDZHW Z\WZRU]\ FKRGQHJR
SRGPXFKX $OH ZLHV] H QLH V]XNDP\ VNDUEX W\ONR ZVND]yZNL PRMHJR
G]LDGNDNWyUDZMDNLVSRVyEPDQDPSRPyF
7HQ GRP MHVW SHHQ UXSLHFL NWyUH QDSUDZG QDGDZD\E\ VL QD VNDUE\
1LH PyZLF MX R SU]HUyQ\FK NU\MyZNDFK FLJQ ;HPHULXV QLH]UDRQ\
1LHNWyUH FLDQ\ QD SLHUZV]\P SLWU]H V SRGZyMQH D PLG]\ QLPL ]QDMGXM
VLNRU\WDU]HWDNZVNLHH]FDSHZQRFLQLHVSU]H]QDF]RQHGODOXG]LR
WXVW\FKW\NDFK
1DSUDZG" 7DNLFK NRU\WDU]\ GR WHMSRU\ QLH RGNU\DP $MDN VL WDP
ZFKRG]L"
:ZLNV]RFL SRNRMyZ GU]ZL SR SURVWX ]RVWD\ SU]\NU\WH WDSHW DOHMHVW
ZHMFLHZV]DILHWZRMHMFLRWHF]QHMEDENLDWDNH]DW\PSRWQ\PEXIHWHPZ
MDGDOQL , NROHMQH Z ELEOLRWHFH NODV\F]QLH XNU\WH ]D UHJDHP ] NVLNDPL
1DZLDVHP PyZLF ] ELEOLRWHNL MHVW SU]HMFLH QD VFKRG\ SURZDG]FH GR
PLHV]NDQLDSDQD%HUQKDUGDLMHV]F]HMHGQRQDGUXJLHSLWUR
7R E\Z\MDQLDR GODF]HJR SDQ %HUQKDUG ]DZV]H SR SURVWXZ\UDVWDMDN
VSRG]LHPLPUXNQDP
7R QLH ZV]\VWNR : JyZQ\P SU]HZRG]LH NRPLQRZ\P SU]\ FLDQLH
SU]\OHJDMFHM GR SRVHVML QXPHU MHVW GUDELQD SR NWyUHM PRQD ZVSL VL
QDGDFK=NXFKQLQLHGDVLMXWDPSU]HMNRPLQ]RVWD]DPXURZDQ\DOH
Z V]DILH QD NRFX NRU\WDU]D QD GUXJLP SLWU]H MHVW NODSD Z\VWDUF]DMFR
GXDGODZLWHJR0LNRDMD$OERGODZDV]HJRQLH]Z\NHJRORNDMD
$OERGODNRPLQLDU]D
$ FR GRSLHUR SLZQLFD ;HPHULXV MDNE\ QLH V\V]D PRMHM XZDJL &]\
ZDVLVVLHG]LZLHG]HLVWQLHMHWDMQHZHMFLHGRLFKGRPX"7\ONRQLHPRQD
EDVLSDMNyZMHOLVLWDPF]HJRV]XND
7R OHSLHM SRV]XNDMP\ JG]LH LQG]LHM SRZLHG]LDDP V]\ENR ]XSHQLH
]DSRPLQDMFHSRZLQQDPPyZLV]HSWHP
*G\E\P\ ZLHG]LHOL F]HJR V]XNDP\ E\RE\ RF]\ZLFLH SURFLHM
;HPHULXVSRGUDSDVLW\OQ
DSSREURG]LH$WDNZJUXQFLHU]HF]\WRPRHE\ZV]\VWNRZ\SFKDQ\
NURNRG\OZRE]HMG]LHEXWHONDV]NRFNLHM]DNVLNDPLZELEOLRWHFHVWRVOLVWyZ
Z WDMQHM V]XIODG]LH VHNUHWDU]\ND WZRMHM FLRWHF]QHM EDENL VNU]\QND
]DPXURZDQDZFLDQLH
6NU]\QND ]DPXURZDQD Z FLDQLH" SU]HUZDDP PX FR WR MHVW
RE]HMGD"
7R WDND SU]\EXGyZND ;HPHULXV ZVND]D JRZ 2FK FR PL VL
]GDMHHREXG]LDEUDWD
3RGQLRVDP Z]URN 0yM GZXQDVWROHWQL EUDW 1LFN VWD Z GU]ZLDFK VZRMHJR
SRNRMXLRELHPDUNDPLF]RFKUDVRELHVSOWDQHUXGHZRV\
=NLPW\JDGDV]*ZHQQ\"
-HVW URGHN QRF\ V]HSQDP :UDFDM GR yND 1LFN 5]XFL PL
QLH]GHF\GRZDQHVSRMU]HQLHLGRVRZQLHZLG]LDDPMDN]VHNXQG\QDVHNXQG
RSXV]F]DJRVHQQR
&RMHVW]WVNU]\QN]DPXURZDQZFLDQLH"
&KFLDDP FKFLDDP MHM SRV]XND DOH ]GDMH PL VL H OHSLHM EG]LH
SRF]HNDD]URELVLMDVQR
%]GXUD ZWUFL ;HPHULXV :LG] Z FLHPQRFLDFK MDN QR
SRZLHG]P\ MDN VRZD $ SR]D W\P UDF]HM WUXGQR FL EG]LH SU]HV]XND GRP
NLHG\ZV]\VF\EGQDQRJDFK&K\EDHFKFHV]MHV]F]HZLFHMWRZDU]\VWZD
0DPODWDUNR]QDMPL1LFN$FRMHVWZWHMVNU]\QFH"
7HJRQLHZLHPGRNDGQLH=DVWDQRZLDPVLFKZLO0ROLZHHFRRG
G]LDGND
&LRWND*OHQGDQDSU]\NDG=DNDG\PUD]HPVLNyFL\P\NLHG\V]D]
QDPL GR +DUURGVD L JG\ UR]PDZLDDP WDP ] W\P PL\P RGZLHUQ\P Z
PXQGXU]H SDQHP *UL]]OH
HP 3RQLHZD SDQ *UL]]OH QLH \ MX RG
SLG]LHVLFLX ODW WR RF]\ZLFLH QLNW QLH Z\ND]\ZD ]UR]XPLHQLD NLHG\
]DWU]\P\ZDDPVLL]DF]\QDDP]QLPUR]PDZLDRURG]LQLH:LQGVRUyZSDQ
*UL]]OH E\ DUOLZ\P ZLHOELFLHOHP NUyORZHM L R ]E\W GHV]F]RZ\P F]HUZFX
SRJRGD E\D GUXJLP ] NROHL XOXELRQ\P WHPDWHP SDQD *UL]]OH
D 1LHNWyU]\
VLPLDOLLQQLXZDDOLHG]LHFLFHIDQWD]MHV
ERVNLH FR QDMF]FLHM SRGNUHODOL ZLFKU]F PL ZRV\ MHV]F]H LQQL W\ONR
NUFLOLJRZDOHQLNWQLHGHQHUZRZDVLW\PWDNEDUG]RMDNFLRWND*OHQGD
0LDD ]Z\F]DM RNURSQLH Z]EXU]RQD FLJQ PQLH ]D VRE NU]\F]DD QD
PQLH NLHG\ ]DSLHUDDP VL QRJDPL R ]LHPL PyZLD PL H SRZLQQDP EUD
SU]\NDG ] &KDUORWW\ NWyUD QDZLDVHP PyZLF MX ZWHG\ E\D WDN
GRVNRQDD H QDZHW VSLQND GR ZRVyZ QLH PLDD VL MHM SU]HNU]\ZL L WR
E\RQDMJRUV]HJUR]LDSR]EDZLHQLHPPQLHGHVHUX
, FKRFLD ZSURZDG]DD VZRMH JURE\ Z F]\Q D MD XZLHOELDDP GHVHU\ ZH
ZV]\VWNLFKZ\GDQLDFKQDZHWNRPSRW]HOLZHNSRSURVWXQLHPLDDPVHUFD
SU]HM RERMWQLH NRR SDQD *UL]]OH
D =D NDG\P UD]HP 1LFN SUyERZD PL
SRPyF EDJDMF FLRWN *OHQG HE\ PQLH SXFLD ER SU]HFLH WHQ ELHGQ\
SDQ *UL]]OH QLH PD RSUyF] PQLH QLNRJR ] NLP PyJE\ SRUR]PDZLD DOH
FLRWND*OHQGD]DNDG\PUD]HP]UF]QLHZ\NOXF]DDJR]ZDONL
2FK PD\ 1LFNX PyZLD VRGNLP JRVHP NLHG\ W\ ZUHV]FLH
]UR]XPLHV] H WZRMD VLRVWUD W\ONR XGDMH ZDQLDF]N" 'XFK\ QLH LVWQLHM $
PRHW\WXMDNLHJRZLG]LV]"
:WHG\ 1LFN PXVLD ]H VPXWNLHP SRNUFL JRZ D FLRWND *OHQGD
XPLHFKDD VL WULXPIDOQLH 7HJR GQLD JG\ SRVWDQRZLD H QLJG\ ZLFHM QLH
]DELHU]HQDVGR+DUURGVD1LFNZ]DVNDNXMF\VSRVyE]PLHQLVZRMWDNW\N
'UREQLXWNL L SXFRRZDW\ RFK E\ WDNL DGQLXWNL MDNR PDH G]LHFNR L WDN
XURF]RVHSOHQLVWDQSU]HGFLRWN*OHQGZUR]NURNX
:LHV]FLRFLX*OHQGRFRPLZDQLHSRZLHG]LDSDQ*UL]]OH"]DZRD
3RZLHG]LDHMHVWH]SXVWURZDQF]DURZQLF
2F]\ZLFLHSDQ*UL]]OHQLJG\E\F]HJRWDNLHJRQLHSRZLHG]LDE\QDWRR
ZLHOH ]D XSU]HMP\ D FLRWND *OHQGD E\D ]E\W GREU NOLHQWN DOH
3RVXFKDM MHVW ZSy GR F]ZDUWHM D W\ RG UDQD PDV] OHNFMH 0DPD PQLH
]DELMHMDNVLGRZLHHQLHGDMFLVSD
1LHMHVWHPDQLWURFK]PF]RQ\$W\E\E\DZVWUWQDJG\E\V]XNDD
GDOHMEH]HPQLH&RWDNLHJRXNU\G]LDGHN"
1LHPDPSRMFLD
0RH NVLN Z NWyUHM ZV]\VWNR PL Z\MDQLD" $OER SU]\QDMPQLHM OLVW"
']LDGHNE\:LHONLP
0LVWU]HP 6WUDQLNyZ 'REU]H ZLHG]LD R PQLH L WHM FDHM VSUDZLH ]
SRGUyDPL Z F]DVLH L ZLHG]LD WH H WR QLH &KDUORWWD RG]LHG]LF]\D JHQ
6SRWNDDPJRZSU]HV]RFLLZV]\VWNRPXRSRZLHG]LDDP
$OH FL GREU]H V]HSQ 1LFN 6]F]HU]H PyZLF GRU]XFL QLHPDO
]DZVW\G]RQ\ SUDZLH JR QLH SDPLWDP :LHP W\ONR H ]DZV]H PLD GREU\
KXPRULE\DJRGQ\FDNLHPRGZURWQLHQLDG\
$ULVWD 3R]D W\P ]DZV]H SDFKQLD NDUPHOHP L MDNLPL PLHV]Q\PL
SU]\SUDZDPL
7R E\ MHJR W\WR GR IDMNL 8ZDDM =DWU]\PDDP 1LFND Z RVWDWQLHM
FKZLOL
0LQOLP\ GUXJLH SLWUR DOH Z GURG]H QD SLHUZV]H E\R NLOND
UR]HVFKQLW\FK VWRSQL NWyUH VWUDV]QLH VNU]\SLD\ /DWD SU]HNUDGDQLD VL GR
NXFKQL PXVLD\ SU]\QLH MDNLH VNXWNL 2PLQOLP\ WH PLHMVFD L Z NRFX
GRWDUOLP\GRREUD]X]SUDSUDSUDG]LDGNLHP+XJK
2NHMWRVSUyEXMP\
1LFN]DZLHFLODWDUNQDV]HPXSU]RGNRZLZWZDU]
7RZLVWZRHQD]ZDVZRMHJRNRQLD*UXE$QG]L3U]HFLHWR]ZLHU]
MHVWFKXGHMDNV]NLHOHWDRQVDPZ\JOGDMDNWXF]QLN]EURG
=JDG]D VL WH WDN XZDDP 3RPDFDDP UDP Z SRV]XNLZDQLX U\JOD
XUXFKDPLDMFHJR PHFKDQL]P RWZLHUDQLD GU]ZL NWyU\ ]DZV]H WURFK VL
]DFLQD
:V]\VF\ SL MDN QDMHG]RQH QLHPRZODNL =DVDSDQ\ ;HPHULXV
Z\OGRZDRERNQDVQDVWRSQLX7R]QDF]\ZV]\VF\SUyF]SDQD%HUQKDUGD
2QQDMZLGRF]QLHMFLHUSLQD]DEXU]HQLDVQX$OHQLHPDVWUDFKXQLHSRPLHV]D
QDPV]\NyZ2ER\VLZNXFKQLGURELRZ\PLNLHEDVNDPLLRJOGDILOP]
&OLQWHP(DVWZRRGHP
%DUG]RGREU]H
2EUD]VNU]\SLFMDN]Z\NOHRGFK\OLVLGRSU]RGXRGVDQLDMFZHMFLHQD
NLONDVFKRGNyZPLG]\FLDQDPLD]DOHGZLHSyWRUDPHWUDGDOHME\\NROHMQH
GU]ZL 3URZDG]L\ GR D]LHQNL QD SLHUZV]\P SLWU]H L RG GUXJLHM VWURQ\
PDVNRZDR MH Z\VRNLH OXVWUR 'DZQLHM GOD ]DEDZ\ F]VWR VL WDPWG\
SU]HNUDGDOLP\ GUHV]F]\N HPRFML EUD VL VWG H QLJG\ QLH E\R ZLDGRPR
F]\ NWR DNXUDW QLH NRU]\VWD ] D]LHQNL DOH GR WHM SRU\ QLH XGDR VL QDP
RGNU\ GR F]HJR QDSUDZG VX\ WR WDMHPQH SU]HMFLH 0RH MHGQHPX ]
QDV]\FK SU]RGNyZ SR SURVWX VSRGRED VL SRP\V H Z NDGHM FKZLOL PRH
]QLNQ]XVWURQQHJRPLHMVFD"
*G]LH]QDMGXMHVLWDVNU]\QND;HPHULXVLH"VS\WDDP
1DOHZR0LG]\V]F]DQDPL
1LHZLG]LDDP GREU]HZ SyPURNX DOH WR ]DEU]PLDRWDNMDNE\ ;HPHULXV
PLHOLFRZS\VNX
1D W\P ;HPHULXVLH PRQD VRELH SRDPD M]\N ]DXZD\ 1LFN -D
E\PJRQD]ZD;HPL$OER0HUU\0RJSyMSRWVNU]\QN"
6WRLSROHZHMVWURQLHSRZLHG]LDDP
6]DP V]RELH SRDP M]\N U]XFL ;HPHULXV .V]HPL DOER 0HUU\
FKFLDE\MHV]F]HF]HJR
3RFKRG]URGXSRWQ\FKGHPRQyZRGXJLHMWUDG\F]MLLQDV]HLPLRQD
&RW\PDV]ZXVWDFK";HPHULXVVSOXQLPODVQ
-XQLF=DUHPJRELDNWyU\VSDQDGDFKX'XUQHSLyUD
3U]HFLHW\QLHMHV]
1LHPDRQLF]\PSRMFLDDZV]G]LHZWUFDVZRMHWU]\JURV]HSU\FKQ
]XUD];HPHULXV,QDZHWJRENDPL]DEUDQLD
1LHPRHV]]MHJRELDSRZLHG]LDDP-HVWHGXFKHP
-HVWHP GHPRQHP 0RJ MH ZV]\VWNR FR ]HFKF 5D] QDZHW SRDUHP
NVLG]D=VXWDQQLNRORUDWN&RVLJDSLV]]WDNLPQLHGRZLHU]DQLHP"
/HSLHMXZDDMHE\QLNWQLHQDGV]HG
+HM&]\E\PLQLHZLHU]\D"1LFNZLHFLWHUD]ODWDUNSRFLDQDFK
1LFQLHZLG]
6NU]\QND VWRL ]D FHJDPL 0LG]\ FLDQDPL W\ SXVW\ ELH SRZLHG]LD
;HPHULXV$MDQLHNDPL
-DNPyZLH]DUHPJRELDWR]DUHP
6WRL]DFHJDPLPLG]\FLDQDPLSRLQIRUPRZDDP1LFND
$OH DGQD ] W\FK FHJLH QLH Z\JOGD QD REOX]RZDQ 1LFN SU]\NONQ
QDSRGRG]HL]DF]XZDQLHPDFDFLDQ
+DDDOORRR 5R]PDZLDP ] WRE U]XFL ;HPHULXV &]\ W\ PQLH F]DVHP
QLHLJQRUXMHV]EHNVRODOR"1RGREUDWRE\JREGXFKZU]DVQNLHG\
VLQLHRGH]ZDDP$OHOLF]\VLWDNVDPR
*REGXFK.RE\VLXPLD1DZHWJG\E\LVWQLD\JRELHGXFK\DMD
MHV]F]HQLJG\WDNLHJRQLHZLG]LDDPLWDNQLHPyJE\LFK]HUH'XFK\QLH
PRJVLZ]DMHPQLH]DELMD
:V]\VWNLH FHJ\ VLHG] PRFQR R]QDMPL 1LFN ;HPHULXV SDUVNQ
JQLHZQLH
3RSLHUZV]HJRELHWHPRJRGF]DVXGRF]DVX]GHF\GRZDH]RVWDQ
QD]LHPLMDNRGXFK\
%yJ ZLH SR FR 0RH PDM QLH]DDWZLRQH SRUDFKXQNL ] NRWHP 3R GUXJLH
Z\WXPDF] PL Z MDNL VSRVyE SRWUDILV] RGUyQL SUDZG]LZHJR JRELD RG
JRELDGXFKD,SRWU]HFLH]LFK\FLHPGXFKyZNRQLHFNLHG\MHSRU%RMD
QLHMHVWHP]Z\N\PGXFKHPOHF]GHPRQHPFRPyZLHPMXVHWNLUD]\%\
PRHQLHSRWUDIL]G]LDD]E\WZLHOHZZDV]\PZLHFLHDOHZZLHFLHGXFKyZ
MHVWHPFDNLHPZDQV]\FK.LHG\WRZUHV]FLHSRMPLHV]"
1LFNSU]\PLHU]\VLLNRSQNLONDUD]\ZFLDQ
1LHQLFVLQLHGD]UREL
'DM VSRNyM ]D JRQR :\FK\OLDP JRZ ] NRU\WDU]D L
SRSDWU]\DPQD;HPHULXVD]Z\U]XWHP1RVXSHUZDQDV]\FKR&RWHUD]"
&RWHUD]"1LFQLHPyZLHPRREOX]RZDQ\FKFHJDFK
7RMDNPDP\VLWDPGRVWD"
2GSRZLHG PRWNLHP L SU]HFLQDNLHP E\D ]DLVWH JHQLDOQD 7\ONR H
XG]LHOL MHM QLH ;HPHULXV OHF] SDQ %HUQKDUG =DPDUDP ] SU]HUDHQLD 6WD
WX PHWU SRZ\HM PQLH :LG]LDDP MDN Z SyPURNX E\VNDM MHJR VRZLH
RNXODU\Z]RW\FKUDPNDFK,]E\&]\WRPROLZHHE\VLXPLHFKD"
2 UDQ\ ;HPHULXV ]H ]GHQHUZRZDQLD D Z\SOX WURFK ZRG\ &K\ED
ZFLJQWHNLHEDVNLQRVHP$OERILOPE\GRNLWX1D&OLQFLH(DVWZRRG]LHSR
SURVWXQLHPRQDSROHJD
&FFFFR"1LHE\DPZVWDQLHZ\NU]WXVLQLFLQQHJR
1DMOHSLHM E\RE\ Z]L PRWHN L SU]HFLQDN ] QLHZ]UXV]RQ\P VSRNRMHP
SRZWyU]\SDQ%HUQKDUG
$OHSURSRQXMHE\P\SU]HR\OLWRSU]HGVLZ]LFLHQDSyQLHM&KRE\
GODWHJR HE\ QLH ]DNyFD FLV]\ QRFQHM NLHG\ EG]LH SDQL Z\GRE\ZD
VNU]\QN]NU\MyZNL2FKMHVWWXWDNHPLVWU]
1LFN 6SRMU]D Z VWUXPLH ZLDWD ODWDUNL 1LFND QLH PUXJDMF RF]DPL
%RVR3U]H]LELVLSDQ
2QVDPPLDSDQWRIOHLHOHJDQFNLV]ODIURN]Z\KDIWRZDQ\PPRQRJUDPHP
:%:DOWHU":LOO\"
:LJDQG"'ODPQLHSDQ%HUQKDUGE\]DZV]HF]RZLHNLHPEH]LPLHQLD
6NGSDQZLHHV]XNDP\VNU]\QNL"VS\WD1LFN
*ORV PLD SHZQ\ DOH Z MHJR V]HURNR RWZDUW\FK RF]DFK ZLG]LDDP H MHVW
WDN VDPR Z\VWUDV]RQ\ L RV]RRPLRQ\ MDN MD 3DQ %HUQKDUG SRSUDZL VRELH
RNXODU\
+P ]DSHZQH VWG H RVRELFLH ]DPXURZDHP W VNU]\QN -HVW WR
NXQV]WRZQLH U]HELRQD LQWDUVMRZDQD V]NDWXD DQW\N ] SRF]WNyZ
RVLHPQDVWHJRZLHNXNWyUDQDOHDDGRSDQLG]LDGND
$ FR MHVW Z URGNX" VS\WDDP NLHG\ ]QyZ PRJDP PyZL 3DQ
%HUQKDUGSRSDWU]\QDPQLHVXURZR
2F]\ZLFLHQLHPLDHPSUDZDRWR]DS\WD-DW\ONRXNU\HPWVNU]\QN
QDSROHFHQLHSDQLG]LDGND
1LHFK PL QLH ZFLVND JXSRW ZWUFL ]U]GOLZLH ;HPHULXV 3U]HFLH
ZV]G]LH ZW\ND WHQ VZyM FLHNDZVNL QRV , ]DNUDGD VL XSLZV]\ XSU]HGQLR
F]\MF]XMQR]DSRPRFGURELRZ\FKNLHEDVHN
$OH WR ZV]\VWNR WZRMD ZLQD SDF]OLZ\ QLHGRZLDUNX *G\E\ QLH SRVG]LD
PQLHRNDPVWZRWHQVG]LZ\]ELHJyNRZ\QLH]DVNRF]\E\QDVWXWDM
2F]\ZLFLHFKWQLHSRPRJSDQLZ\GRE\WVNU]\QNFLJQ%HUQKDUG
$OH QDMOHSLHM G]L ZLHF]RUHP NLHG\ SDQL EDEFLD L FLRWND XGDG] VL QD
VSRWNDQLH GDP ] NOXEX URWDULDQ 'ODWHJR SURSRQRZDE\P HE\P\ WHUD]
ZV]\VF\SRV]OLVSDERZNRFXPXV]SDVWZRUDQRLGRV]NR\
1R MDVQH D Z W\P F]DVLH RQ QDP WR VWG Z\NUDGQLH SRZLHG]LD
;HPHULXV =JDUQLH ZV]\VWNLH GLDPHQW\ D GR VNU]\QNL ZR\ SDU VWDU\FK
RU]HFKyZ=QDP\WHQXPHU\
%]GXUDPUXNQDP
*G\E\SDQ%HUQKDUGPLDWDNL]DPLDUGDZQRMXE\WR]URELSUyF]QLHJR
QLNW SU]HFLH R QLHM QLH ZLHG]LD &R GR ZV]\VWNLFK GLDEyZ E\R Z WHM
VNU]\QFHNWyUG]LDGHNND]D]DPXURZDZHZDVQ\PGRPX"
'ODF]HJR FKFH SDQ QDP SRPyF" VS\WD 1LFN GR REFHVRZR
XSU]HG]DMFS\WDQLHNWyUHPLDDPQDNRFXM]\ND
3RQLHZD XPLHP VL GREU]H SRVXJLZD PRWNLHP L SU]HFLQDNLHP
RGU]HNFLFKRSDQ%HUQKDUG,SRQLHZDQLHVWHW\ZDV]G]LDGHNQLHPRHWX
E\GRU]XFLMHV]F]HFLV]HMHE\ZVSLHUDSDQQ*ZHQGRO\Q
1DJOH FR FLVQR PQLH PRFQR ]D JDUGR L PXVLDDP VL SRZVWU]\PD
QDS\ZDMFH]\
']LNXMV]HSQDP
3URV] QLH FLHV]\ VL ]E\W ZF]HQLH .OXF] GR VNU]\QNL ]DJLQ $ QLH
ZLHP F]\ EG PLD VHUFH SRWUDNWRZD W FHQQ V]NDWXN RPHP 3DQ
%HUQKDUGZHVWFKQ
7R]QDF]\HQLFSDQQLHSRZLHQDV]HMPDPLHDQLODG\$ULFLH"VS\WD
1LFN
1LHMHOLQDW\FKPLDVWSyMG]LHFLHGRyHN1LPVLRGZUyFLLUXV]\SR
VFKRGDFKZJyU]QRZXGRVWU]HJDPMDNZFLHPQRFLDFKOQLMHJR]E\
'REUDQRF3URV]VSUyERZDMHV]F]HWURFKVLSU]HVSD
'REUDQRFSDQLH%HUQKDUGPUXNQOLP\MDL1LFNMHGQ\PJRVHP
6]F]ZDQ\ OLVLH SRZLHG]LD ;HPHULXV 7\ONR VRELH QLH P\O H
VSXV]F]FL]RF]X
*G\NUJNUZLVZH]QDMG]LHGRSHQLHQLH:PDJLF]Q\PNDPLHQLXXNU\WHM
ZLHF]QRFL:PRGRFLV]DWDFKQRZHMVLW\WFKQLHQLH%G]LHPXGDQDPRF
QLHPLHUWHOQRFL
/HF]VWU]HVL'ZXQDVWHMJZLD]G\SRZVWDQLH=LHPVNLHJRF]DVX]DF]QLH
RGOLF]DQLH=QLNQLHPRGRFLZLHF]\VWHMRFKURQD'EZLHF]Q\VZHJR\ZRWD
GRNRQD
/HF]FHOVZyMRVLJQRU]H]GRD*G\VLGZXQDVWHMJZLD]G\EODVN
UR]S\QLH-HOL]PLRFLVDPDORVSU]\ZRD,ZSRRG]HWHMPLRFL]JLQLH
=WDMQ\FKSLVPKUDELHJRGH6DLQW*HUPDLQ
5R]G]LD
$ZLF"&\QWKLDNROHDQND]NODV\VWDQDSU]HGQDPLSRGSLHUDMFVL
SRGERNLL]DVWDZLDMFGURJQDSLHUZV]HSLWUR8F]QLRZLHNWyU]\PXVLHOLVL
SU]HFLVNDNRRQDV]OHZHMLSUDZHMVWURQ\]DF]OLQDU]HNDQDWRN&\QWKLL
WR MHGQDN QLH UXV]DR =ZLMDD Z SDOFDFK SDVNXGQ\ NUDZDW EGF\ F]FL
V]NROQHJR PXQGXUND Z 6DLQW /HQQR[ L PLDD EDUG]R SRZDQ PLQ -DN
Z\JOGDVSUDZD]ZDV]\PLNRVWLXPDPL"
: QDMEOLV]\ ZHHNHQG E\\ MHM XURG]LQ\ L ]DSURVLD QDV QD GRURF]Q\ EDO
SU]HELHUDFyZ
=GHQHUZRZDQD/HVOLHSRWU]VQDJRZ
:LHV] &\Q VSUDZLDV] ZUDHQLH FRUD] EDUG]LHM VWXNQLWHM 7R ]QDF]\
ZF]HQLHMWHE\DG]LZQDDOHZRVWDWQLPF]DVLHWRV]F]HJyOQLHU]XFDVLZ
RF]\3U]HFLHQLNWQLHS\WDVZRLFKJRFLMDNVLSU]HELRUQDLPSUH]
:DQLH HE\ QLH E\R WDN H QD NRQLHF EG]LHV] VL PXVLDD EDZL
VDPD 6SUyERZDDP SU]HPNQ RERN &\QWKLL DOH RQD E\VNDZLF]Q\P
UXFKHPUNL]DSDDPQLH]DUDPL
=D NDG\P UD]HP Z\P\ODP QDMFLHNDZV]H KDVD L ]DZV]H ]GDU]DM VL
WDF\ NWyU]\ QLH SU]HVWU]HJDM ]DVDG L SVXM ]DEDZ SRZLHG]LDD
3U]\SRPLQDPZDPW\ONRRNDUQDZDOH]ZLHU]W
2RVREDFKNWyUHSRMDZL\VL]SLyUNLHPZHWNQLW\PZHZRV\WZLHUG]F
HSU]HEUD\VL]DNXU\
7DN WDN PRHV] SDWU]H QD PQLH ] SRF]XFLHP ZLQ\ *ZHQ :LHP
GRNDGQLHF]\MWRE\SRP\V
1LHNDG\PDPDPNWyUHMSDVMMHVWURELHQLHPDVHNVRQLD]SDSLHUX
U]XFLD/HVOLHSRGF]DVJG\MDW\ONRSRQXURPUXNQDPHPXVLP\MXL
'DURZDDP VRELH XZDJ H Z WHM FKZLOL PDP JG]LH LPSUH] X &\QWKLL
3UDZGRSRGREQLHLWDNE\RWRSRPQLHZLGD8FLVNQDPRLPUDPLHQLXVWD
VLPRFQLHMV]\
$ SDPLWDV] MHV]F]H SODRZ LPSUH] %DUELH" 1D ZVSRPQLHQLH WHM
LPSUH]\ &\QWKL D ZVWU]VQ GUHV]F] V]F]HU]H PyZLF ]XSHQLH VXV]QLH
:]LD JERNL ZGHFK 7\P UD]HP FKF E\ ZDV ]XSHQLH SHZQD 7DN
SLNQLH]LHOHVL]LHOHQLWRFXGRZQHKDVRLQLNRPXQLHGDP]HSVX]DEDZ\
HE\P\VLGREU]H]UR]XPLD\QLHZ\VWDUF]\]LHORQ\ODNLHUGRSD]QRNFLF]\
]LHORQDDSDV]ND
'DV] PL VSRNyM MDN SRGELM FL RNR QD QLHELHVNR" ZDUNQDP 'R
LPSUH]\QDSHZQR]URELVL]LHORQH
&\QWKLDMDNE\PQLHQLHV\V]DD
-D QD SU]\NDG Z\VWSL MDNR ZLNWRULDVND NZLDFLDUND (OL]D 'RROLWWOH
6DUD PD JHQLDOQ\ NRVWLXP VWUND SDSU\NL W\ONR QLH ZLHP FR ]UREL MDN
EG]LHPXVLDDLGRWRDOHW\*RUGRQSU]\MG]LHMDNR
ND]HVWRNURWNDPLRGVWySGRJyZZV]WXF]Q\PWUDZQLNX
&\Q1LHVWHW\QLHGDDVLRGVXQQDERN
$ &KDUORWWD V]\MH VRELH NRVWLXP X NUDZFRZHM $OH MHM VWUyM WR QD UD]LH
WDMHPQLFD3UDZGD
&KDUORWWR"
0RMDNX]\QND&KDUORWWD]DNOHV]F]RQDPLG]\SLWRNODVLVWDPLSUyERZDD
XVWDZPLHMVFXDOH]RVWDDEH]OLWRQLHSRUZDQDSU]H]WXPXF]QLyZ
1R Fy ZDFLZLH QLHWUXGQR ]JDGQ 3RZLHP W\ONR W\OH WLXO Z VLHGPLX
RGFLHQLDFK ]LHOHQL , Z\JOGD QD WR H SRMDZL VL Z WRZDU]\VWZLH NUyOD
2EHURQD2VWDWQLH]GDQLH&KDUORWWDPXVLDDMXZ\NU]\F]HSU]H]UDPL
3DWU]\D SU]\ W\P QD PQLH L G]LZQLH VL XPLHFKDD 7DN VDPR
]DFKRZ\ZDDVLSU]\QLDGDQLX
%\DPEOLVNDWHJRHE\U]XFLZQLSRPLGRUHP
*U]HF]QD&KDUORWWDSRZLHG]LDD]]DGRZROHQLHP&\QWKLD3U]\MG]LHQD
]LHORQRLZPVNLPWRZDU]\VWZLH7DNLFKJRFLOXELQDMEDUG]LHM
&K\ED W\P PVNLP WRZDU]\VWZHP &KDUORWW\ QLH PLD E\ QLH
Z\NOXF]RQH*LGHRQQLJG\QLHSU]\F]HSLE\VRELHV]SLF]DVW\FKXV]X$PRH
MHGQDN"3DWU]\DPQD&KDUORWWHNWyUDQDZHWZWXPLHSRUXV]DDVLQLF]\P
NUyORZD%\V]F]FHUXGHZRV\VSORWDZVWDURPRGQ\ZDUNRF]LG]LHZF]\Q\]
PRGV]\FK NODV JDSL\ VL QD QL ] W PLHV]DQLQ QLHFKFL L SRG]LZX MDND
ELHU]H VLZ\F]QLH ] F]\VWHM ]D]GURFL 3HZQLHMXWURZV]\VWNLH GXJLHZRV\
EGVSOHFLRQHZWDNLHOLF]QHZDUNRF]H
$ZLFMDNRNWRL]NLPSU]\MG]LHFLH"VS\WDD&\QWKLD
-DNR0DUVMDQLHRQDMOHSV]DJRVSRG\QLZV]HFKF]DVyZRGU]HND/HVOLH
Z]G\FKDMF]UH]\JQDFM
$NRJRSU]\SURZDG]LP\WRQDUD]LHQLHVSRG]LDQND
2FK RNHM &\QWKLD SXFLD PRMH UDPL 0DUVMDQLH 1LH]E\W SLNQLH
DOH RU\JLQDOQLH , HE\FLH VL F]DVHP QLH UR]P\OL\ %H] SRHJQDQLD
VNLHURZDDVLZVWURQNROHMQHMRILDU\.DWLH+DOR
=DWU]\PDMVL&KRG]LRPRMLPSUH]
0DUVMDQLH" SRZWyU]\DP NLHUXMF Z]URN Z VWURQ QLV]\ Z NWyUHM
]Z\NOHVWD-DPHVQDV]V]NROQ\GXFKDOHZWHMFKZLOLQLV]DE\DSXVWD
-DNRPXVLD\P\VLMHMSR]E\SRZLHG]LDD/HVOLH,PSUH]D3KLNWR
E\VLWHUD]F]\PWDNLPSU]HMPRZD"
&]\ NWR WX PyZL R LPSUH]LH" -D WH LG %UDW *LGHRQD 5DSKDHO
SRMDZL VL WX ]D QDPL L MDNE\ WR E\R RF]\ZLVWH ZFLVQ VL PLG]\ QDV
ELRUF PQLH SRG UN L REHMPXMF /HVOLH Z WDOLL 0LD EDUG]R G]LZQLH
]DZL]DQ\NUDZDW7R]QDF]\]DZL]DSRGZyMQ\Z]H$MDMXP\ODHP
H Z\ $QJOLF\ QLH OXELFLH LPSUH] :\VWDUF]\ W\ONR VRELH SU]\SRPQLH R
NWyUHM]DP\NDVLWXSXE\
/HVOLHZ\UZDDPXVLJZDWRZQLH
1LHVWHW\ PXV] FL UR]F]DURZD 'RURF]Q\ EDO SU]HELHUDFyZ X &\QWKLL
PD QLHZLHOH ZVSyOQHJR ] LPSUH]RZDQLHP &K\ED H OXELV] LPSUH]\ QD
NWyU\FK URG]LFH SLOQXM HE\ QLNW QLH GRGD GR QDSRMyZ DONRKROX DOER QLH
SRODQLPGHVHUX
1LE\WDNDOH]DWR]DZV]HJUDM]QDPLZEDDDUG]RZHVRHJU\Z]LDP
URG]LFyZ &\QWKLL Z REURQ , QDMF]FLHM V WH MHG\Q\PL NWyU]\ WDF]
6SRMU]DDP QD 5DSKDHOD ] ERNX L V]\ENR RGZUyFLDP Z]URN SRQLHZD MHJR
SURILOE\XGHU]DMFRSRGREQ\GRSURILOX*LGHRQD6]F]HU]HPyZLFG]LZL
VLH&\QWKLDFLMHV]F]HQLH]DSURVLD
$OH ]DSURVLD 5DSKDHO ZHVWFKQ 3RZLHG]LDHP H MHVWHP MX
XPyZLRQ\ 1LHQDZLG] WHPDW\F]Q\FK LPSUH] QD NWyUH WU]HED VL SU]HEUD
$OHJG\E\PZLHG]LDHZ\LG]LHFLH
:DQLH PLDDP ]DSURSRQRZD H ]DZL PX SUDZLGRZR NUDZDW MHOL R
WRFKRG]LV]NROQ\UHJXODPLQE\GRVXURZ\DOHZWHG\]QRZXREM/HVOLH
ZWDOLL
&]\PyZLD*ZHQGRO\Q]DS\WDZHVRRH]ORNDOL]RZDOLP\WHQVNDUE
]ZDV]HMJU\PLVWHU\"
=QDOD]\FLHJRMX"
7DNSRWZLHUG]LDNUyWNR/HVOLH=DXZD\DPHW\PUD]HPPXVLQLH
Z\UZDD
,MDNGDOHMWRF]\VLWDJUDPLJQRQQH
:DFLZLHWRQLHMHVWDGQD]DF]DPDOH/HVOLHZSDGDPLZVRZR
3U]\NUR PL 5DSKDHOX DOH QLH PRHV] MX ] QDPL JUD R]QDMPLD
FKRGQR
&RWDNLHJR"1RPRLP]GDQLHPWRQLHMHVWIDLU
7H XZDDDP H WR QLH IDLU : NRFX QLH JUDOLP\Z DGQ JU ] NWyUHM
PRJOLE\P\Z\NOXF]\ELHGQHJR5DSKDHOD
/HVOLHXZDDW\ONRH/HVOLH]QRZXPLSU]HUZDD
1RFySRSURVWX\FLHQLHMHVWIDLUSRZLHG]LDDFK\EDMHV]F]HEDUG]LHM
FKRGQR3RG]LNXM]DWRVZRMHPXEUDWX-DNQDSHZQRGREU]HZLHV]ZWHM
JU]HVWRLP\SRSU]HFLZQ\FKVWURQDFK,QLHPRHP\U\]\NRZDHSU]HNDHV]
*LGHRQRZL MDNLH LQIRUPDFMH 2Q ]D QDZLDVHP PyZLF MHVW VWUDV]Q\P
GXWR]QDF]\MHVWGRQLHPL\PF]RZLHNLHP
/HVOLH
&]\E\GREU\GXFKMRSXFL"
&RSURV]"7RSRV]XNLZDQLHVNDUEyZPDFRZVSyOQHJR]PRLPEUDWHPL
SRGUyDPL Z F]DVLH" 5DSKDHO SXFL QDV RELH L VWDQ MDN ZU\W\ $ F]\
ZROQRVS\WDFRWDNLHJRZDP]UREL"
1LH XGDZDM H QLH ZLHV] RGU]HND /HVOLH 7\ L *LGHRQ QD SHZQR
JDGDFLH]HVRERZV]\VWNLP0UXJQDGRPQLH
0RJDPRGSRZLHG]LHW\ONR]PLHV]DQ\PVSRMU]HQLHP
1LH QLH JDGDP\ Z\NU]\NQ 5DSKDHO 3UDZLH QLH PDP\ GOD VLHELH
F]DVX*LGHRQSU]H]FD\F]DVPDMDNLHWDMQHPLVMH$MHOLMXMHVWZGRPX
OF]\ QDG SRXIQ\PL DNWDPL DOER Z\SDWUXMH XNU\W\FK G]LXU Z VXILFLH $OER
MHV]F]H JRU]HM SRMDZLD VL &KDUORWWD L ZV]\VWNLFK ZNXU]D =UREL WDN
QLHV]F]OLZPLQHQDMFKWQLHME\PJRSU]\WXOLD0\ODHPHMHVWHP\
SU]\MDFLyPL GRU]XFL FLFKR D MD PLDDP MHV]F]H ZLNV] RFKRW JR
SU]\WXOL:F]RUDMSRSRXGQLXRGQLRVHPZUDHQLHHQDSUDZGGREU]HVL
UR]XPLHP\
7R QLHVWHW\ QLHSUDZGD UR]OHJ VL JRV RERN QDV 1DOHD GR QDV]HJR
QDXF]\FLHOD DQJLHOVNLHJR SDQD :KLWPDQD NWyU\ ]QyZ Z\JOGD R ZLHOH ]D
GREU]HMDNQDQDXF]\FLHOD
$ Fy SDQ PRH ZLHG]LH R NRQV\VWHQFML GDPVNLFK VHUF" VS\WDDE\P
FKWQLHDOHZREHFSDQD
:KLWPDQDOHSLHMVLE\RSRZVWU]\PD7DNVDPRMDNSDQL&RXQWHUFKWQLH
GDZD ]DGDQLD GRPRZH QDZ\P\OQH WHPDW\ L SRWUDILE\ UyZQLH QLHXJLW\
MDNE\SU]\VWRMQ\
$ Fy WDNLHJR MHVW QLHSUDZG" VS\WDD /HVOLH ]D QLF PDMF ZV]HON
RVWURQR
3U]\JOGDVLQDPNUFFJRZ
0\ODHPHZ\VWDUF]DMFRV]HURNRRPyZLOLP\SU]HQRQLHSRUyZQDQLD
V\PEROHLREUD]\
:\UDHQLH ]DPDQH VHUFH PRQD ]DOLF]\ GR SU]HQRQL D VHUFH ]
PDUFHSDQX" $ NRJy WR LQWHUHVXMH GR GLDED" 2G NLHG\ OHNFMD ]DF]\QD VL
MXQDNRU\WDU]X"
+PV\PEROHHHHSLWHW"]JDG\ZDDP3DQ:KLWPDQVNLQJRZ
&KRFLDGRNLHSVNLGRGD]HPLHFKHPDOH]DUD]]QyZVSRZDQLD
:\JOGDV]QD]PF]RQ
*ZHQGRO\Q 3U]HOHDD EH]VHQQLH FD QRF GUF]\D VL L SU]HVWDD
UR]XPLHWHQZLDWQLHSUDZGD"
$OHWRZV]\VWNRQLHSRZLQQRJRQLFDQLFREFKRG]L,ZVSyF]XMF\WRQ
WHPyJVRELHGDURZD
:HVWFKQ
7R FK\ED MHVW GOD FLHELH WURFK ]D GXR 2NUFL QD SDOFX V\JQHW
LGHQW\ILNXMF\ JR MDNR MHGQHJR ]H 6WUDQLNyZ 0RQD VL E\R WHJR
VSRG]LHZD 0RH GRNWRU :KLWH SRZLQLHQ FL FR SU]HSLVD HE\
SU]\QDMPQLHMZQRF\PLDDVSRNyM
0RMH RVXSLDH VSRMU]HQLH VNZLWRZD ]DFKFDMF\P XPLHFKHP D SRWHP
RGZUyFLVLLZV]HGSU]HGQDPLGRNODV\
&]\MDVLSU]HV\V]DDP/HVOLHF]\SDQ:KLWPDQZDQLH]DSURSRQRZD
HE\ ]DDSOLNRZD PL URGHN QDVHQQ\" VS\WDDP WR ]DUD] SR W\P MDN
SRZLHG]LDHZ\JOGDPGREDQL
7DNWRE\PXSHZQLHSDVRZDRSDUVNQD/HVOLH:G]LHPDULRQHWND
ZUNDFK6WUDQLNyZZQRF\RGXU]RQDZV]\VWNRSRWRHE\QLHSU]\V]RFL
GR JRZ\ QLF JXSLHJR $OH QLH ] QDPL WH QXPHU\ (QHUJLF]QLH RGJDUQD ]
WZDU]\NRVP\NZRVyZ3RNDHP\LPHPRFQRFLQLHGRFHQLDM
(FKZHVWFKQDPDOH/HVOLHU]XFLDPLSRQXUHLVWDQRZF]HVSRMU]HQLH
6WZRU]\SODQJyZQ\SLHUZV]DSU]HUZDGDPVNDWRDOHWD
5R]ND]RGSRZLHG]LDDP
1DZLDVHPPyZLFSDQ:KLWPDQQLHPLDUDFMLZFDOHQLHZ\JOGDDPQD
]PF]RQ VSUDZG]LDP WR ZLHORNURWQLH Z OXVWU]H Z GDPVNLHM WRDOHFLH L WDN
QLH F]XDP 3R QDV]HM QRFQHM DNFML SRV]XNLZDZF]HM GR V]\ENR ]DVQDP L
QLHPLDDPDGQ\FKNRV]PDUyZ0RHQDZHWQLRPLVLFRSLNQHJRERZ
W\FK PDJLF]Q\FK VHNXQGDFK PLG]\ VQHP D SU]HEXG]HQLHP F]XDP VL
SHZQD VLHELH L SHQD QDG]LHL -HGQDN ZUD] ] RVWDWHF]Q\P SU]HEXG]HQLHP
]QRZXZNUDG\VLGRPRMHMZLDGRPRFLVPXWQHIDNW\DSU]HGHZV]\VWNLP
MHGHQ*LGHRQW\ONRXGDZD
0LPR WR RGURELQD QDG]LHL RFDODD UyZQLH QD UHV]W GQLD 0RH G]LNL
WHPXHZNRFXSU]HVSDDPVLNLONDJRG]LQDPRHGODWHJRHQDZHWZH
QLHXZLDGDPLDDPVRELHLZG]LVLHMV]\FKF]DVDFKVXFKRW\VXOHF]DOQH$
PRHPRMHJUXF]R\]RZHE\\MXSRSURVWXSXVWH"
0\OLV]HWRPROLZHE\*LGHRQ]DSODQRZDHUR]NRFKDPQLHZVRELH
DOHSRWHPIDNW\F]QLHPRQDE\U]HFSU]H]SU]\SDGHNVLZHPQLH]DNRFKD"
]DS\WDDPRVWURQLH/HVOLHJG\SDNRZD\P\VLSROHNFMDFK
3U]H] FDH SU]HGSRXGQLH XQLNDDP WHJR WHPDWX DE\ ]DFKRZD WU]HZR
XP\VXZF]DVLHVQXFLDQDV]HJRSODQXDOHWHUD]SRSURVWXPXVLDDPRW\P
SRUR]PDZLDLQDF]HME\PSND
7DNSRWZLHUG]LD/HVOLHSRNUyWNLPZDKDQLX
1DSUDZG"%\DP]DVNRF]RQD
0RH ZDQLH WR FKFLD FL ZF]RUDM NRQLHF]QLH SRZLHG]LH 1D ILOPDFK
]DZV]H VL ZNXU]DP\ QD WH V]WXF]QH QLHSRUR]XPLHQLD NWyUH SRZRGXM
Z]URVW QDSLFLD SU]HG KDSS\ HQGHP , NWyU\FK PRQD E\ XQLNQ JG\E\
OXG]LHQRUPDOQLH]HVREUR]PDZLDOL
7DN WR MHVW WHQ PRPHQW Z NWyU\P ]DZV]H ZRDV] 3R SUR,W8 PX WR
SRZLHG]JXSLDNURZR
1LHQDZLG]WHMJRUF]NL,QLHOXELWHJRVQX7XZV]\VWNRMHVWWDNLH
EU]\GNLH :HVWFKQ FLNR LZVND]D QD VXILW =DGDM VRELH S\WDQLH Fy
WR ]D SURIDQL ]DPDORZDOL IUHVNL 0yM RMFLHF Z\GD QD QLH PDMWHN %DUG]R
OXEL W SDVWHUN Z URGNX MHVW QDG]Z\F]DMQLH QDPDORZDQD FKR PRMD
PDPD ]DZV]H PyZL H PD ]E\W IU\ZROQ\ VWUyM =H VPXWNLHP SU]\MU]D VL
QDMSLHUZ PQLH D SRWHP /HVOLH GXHM ]DWU]\PXMF Z]URN QD SOLVRZDQ\FK
VSyGQLF]NDFK QDV]\FK PXQGXUNyZ L QD QDV]\FK NRODQDFK /HF] JG\E\
PRMD PDWND ZLHG]LDD MDN XEUDQH EG RVRE\ Z\VWSXMFH Z PRLFK
PDMDNDFK E\DE\ SU]HUDRQD -D VDP MHVWHP SU]HUDRQ\ 1LJG\ Z \FLX QLH
SR]ZROLE\PVRELHQDWDN]Z\URGQLDHIDQWD]MH
-DPHVPLDQDMZLGRF]QLHMZ\MWNRZR]\G]LH
7\PF]DVHPW\ONR;HPHULXVNWyUHJR-DPHVQLHQDZLG]LSRVWDQRZL]RVWD
Z GRPX DE\ PLH RNR QD VNDUE L SDQD %HUQKDUGD MDN PL SRZLHG]LD -D
QDWRPLDVW Z VNU\WRFL GXFKD SRGHMU]HZDDP H FKFLD ]QRZX SRSDWU]H QD
FLRFL 0DGG\ SU]\ OHNWXU]H 7R URPDQVLGR NWyUH F]\WDD QDMZ\UDQLHM
EDUG]RPXVLVSRGREDR
=Z\URGQLDH&yWR]DV]DUPDQFNLNRPSOHPHQW-DPHVLHSRZLHG]LDDP
DJRGQLH
-XGDZQRGDDPVRELHVSRNyM]WXPDF]HQLHP-DPHVRZLHQLHQLW\ONR
H RG MDNLFK GZXVWX WU]\G]LHVWX ODW QLH \MH &K\ED QLNW QLH OXEL VXFKD
WDNLFKU]HF]\
3U]HGWHP GRNWRU %DUURZ ]QRZX XSXFL PL NUZL L QDZHW PRJHP VL
QDSL SDU \NyZ F]HJR PyZL GDOHM 0LDHP QDG]LHM H W\P UD]HP
SU]\QLPLVLFRLQQHJRDOHQRFy]QRZXWXMHVWHP
,QLHFKMXWDN]RVWDQLHRGH]ZDDPVLFLHSR%REDUG]RE\P]DWRE
WVNQLD
-DPHV]GRE\VLQDXPLHFK
1RFyMDWHE\PVNDPDJG\E\P]DSU]HF]\WHPXHZMDNLVSRVyE
ZNUDGDVLGRPRMHJRVHUFDSDQL&]\EG]LHP\WHUD]NRQW\QXRZDQDXN
GREU\FKPDQLHU"
1LHVWHW\QLHPDP\F]DVX$OHPRHMXWURGREU]H"1DVFKRGDFKMHV]F]H
VLRGZUyFLDP2FK-DPHVLH:URNXZHZU]HQLXMDNQD]\ZDVL
WZyMXOXELRQ\NR"
'ZDMFKRSF\NWyU]\SFKDOLSRNRU\WDU]XVWy]U]XWQLNLHPQDJOHVWDQOLZ
PLHMVFX
0yZLV] GR PQLH" VS\WDOL REDM MHGQRF]HQLH D /HVOLH SDUVNQD
PLHFKHP
: ]HV]\P URNXZHZU]HQLX" VS\WD-DPHV +HNWRU RF]\ZLFLH 1D
]DZV]HSR]RVWDQLHPRLPXOXELRQ\PNRQLHP1DMFXGRZQLHMV]\VLZHNMDNLHJR
PRQDVRELHZ\REUD]L
$MDNDMHVWWZRMDXOXELRQDSRWUDZD"
&KRSF\ ] U]XWQLNLHP JDSLOL VL QD PQLH MDNE\P VWUDFLD UR]XP -DPHV
]PDUV]F]\F]RR
$FyWR]DS\WDQLD":WHMFKZLOLZRJyOHQLHPDPDSHW\WX
2FKWRWHPRHSRF]HNDGRMXWUD'RZLG]HQLD-DPHVLH
1D]\ZDP VL )LQOH\ SRZLHG]LD MHGHQ ] W\FK RG U]XWQLND 'UXJL
XPLHFKQVL
$MDMHVWHP$GDPDOHFRWDP1LHF]HSLDPVLV]F]HJyyZ0RHV]PyZL
GRPQLH-DPHV
7UXVNDZNL ]DZRD ]D QDPL -DPHV 7UXVNDZNL WR PRMD DEVROXWQLH
QDMEDUG]LHMXOXELRQDSRWUDZD
2FRFKRG]L"VS\WDDPQLH/HVOLHJG\V]\P\QDGy
-HOLVSRWNDP-DPHVDQDW\PEDOXRVWU]HJJRSU]HG]DUDHQLHPRVS
Z\MDQLDPMHM'RSLHURFRVNRF]\GZDG]LHFLDMHGHQODW7R]DZF]HQLH
E\XPLHUDQLHVG]LV]"
=DVWDQDZLDP VL F]\ QDOH\ VL Z FR WDNLHJR PLHV]D SRZLHG]LDD
/HVOLH1RZLHV]ORVSU]H]QDF]HQLHLWDNLHWDP
1R WDN DOH PXVL SU]HFLH LVWQLH MDNL SRZyG H FLJOH VWUDV]\ 0RH
PRLPSU]H]QDF]HQLHPMHVWPXSRPyF"
$ SR FR W\ ZDFLZLH LG]LHV] QD WHQ EDO" VS\WDD /HVOLH :]UXV]\DP
UDPLRQDPL
5]HNRPR KUDELD GH 6DLQW *HUPDLQ WDN SRVWDQRZL Z W\FK VZRLFK
NUHW\VNLFK.URQLNDFKHE\PQLHOHSLHMSR]QDF]\FRZW\PVW\OX
&]\FRZW\PVW\OXSRZWyU]\D/HVOLHXQRV]FEUHZ:HVWFKQDP
:V]\VWNR MHGQR %DO RGE\ZD VL ZH ZU]HQLX URNX DOH -DPHV
]DFKRUXMHGRSLHURZURNX
-HOL]GRDDE\PJRRVWU]HFPyJE\QDSU]\NDGZ\MHFKDQDZLH
QLPZ\EXFKQLH]DUD]D
$OER SU]\QDMPQLHM WU]\PD VL ] GDOHND RG WHJR ORUGD 'LQJHQVD 'ODF]HJR
WDNV]F]HU]\V]]E\"
&KFHV] PX RZLDGF]\ H SU]\E\ZDV] ] SU]\V]RFL L ZLHV] H ZNUyWFH
]DUD]LVLRVS"$QDGRZyGSRZLHV]PXMDNQD]\ZDVLMHJRXOXELRQ\NR"
2FKQRWDNWHQSODQQLHMHVWMHV]F]HGRVNRQD\
/HSV]H E\RE\ V]F]HSLHQLH ]DXZD\D /HVOLH L SRSFKQD GU]ZL QD
V]NROQ\G]LHG]LQLHF$OHWRFK\EDQLHWDNLHSURVWH
1LH$OHFyMHVWG]LVLDMSURVWH":HVWFKQDP2FKROHUD
2ERN F]HNDMFHM OLPX]\Q\ NWyUD MDN FR G]LH PLDD PQLH ]DZLH GR
NZDWHU\ JyZQHM 6WUDQLNyZ VWDD &KDUORWWD $ WR PRJR R]QDF]D W\ONR
MHGQR EG ]QRZX GUF]RQD PHQXHWHP G\JDQLHP L REOHQLHP *LEUDOWDUX
1DEDOXZURNXE\DWRZLHG]DQLH]EGQDSU]\QDMPQLHMZRSLQLL
6WUDQLNyZ
&R G]LZQH G]L PQLH WR ]DQDGWR QLH REHV]R %\ PRH GODWHJR H E\DP
]E\W]GHQHUZRZDQDF]HNDMF\PPQLHVSRWNDQLHP]*LGHRQHP
/HVOLH]PUX\DSRZLHNL
.LPMHVWWHQIDFHFLNNRR&KDUORWW\"
:VND]DDQDUXGRZRVHJRSDQD0DUOH\DDGHSWDSLHUZV]HJRVWRSQLDNWyU\
SUyF]W\WXXZ\UyQLDVLW\PHDWZRUXPLHQLVLDSRF]XENLXV]X6WD
RERN&KDUORWW\FKRZDMFJRZZUDPLRQDFK
:\WXPDF]\DP/HVOLHNWRWRWDNL
0DPZUDHQLHHRQVLERL&KDUORWW\GRGDDP$OH]GUXJLHMVWURQ\
XZDDM]DIDQWDVW\F]Q
&KDUORWWDGRVWU]HJDQDVLSRPDFKDDQLHFLHUSOLZLHZQDV]VWURQ
: NDG\P UD]LH SRG Z]JOGHP NRORUX ZRVyZ FXGRZQLH E\ GR VLHELH
SDVRZDOL SRZLHG]LDD /HVOLH L REMD PQLH 3RZRG]HQLD 3DPLWDM R
ZV]\VWNLPRF]\PUR]PDZLD\P\,EGRVWURQD
,SURV]FL]UyE]GMFLHWHPXSDQX*LRUGDQR
*LRUGDQR W\ONR *LRUGDQR ] DVNL VZRMHM SRZLHG]LDDP QDODGXMF
QRVRZ\WRQJRVXPRMHJRQDXF]\FLHOD'RZLHF]RUD
VWUDV]QLHOHZUyGW\FKZV]\VWNLFKG]LHFLDNyZ7DNF]VWRVNDU\PLVLQD
QDLZQRLQLHGRMU]DRQLHNWyU\FKV]HVQDVWRODWHN
3U]H] XDPHN VHNXQG\ ]DVWDQDZLDDP VL F]\ PRH F]DVHP QLH PyZL PL
SUDZG\ L F]\ QLH FKFH PQLH W\P ]GHQHUZRZD $OH QDZHW JG\E\ ]D DGQH
VNDUE\ QLH GDP MHM VDW\VIDNFML L QLH SRND H PQLH WR ]DERODR 0RMH
SRWDNLZDQLHZUF]NLSLDRRGZ\UR]XPLDRFL
0LDE\WDPSU]HFLHWZRMHGRMU]DHWRZDU]\VWZR&KDUORWWHDMHOLPXWR
QLH Z\VWDUF]\ ]DZV]H EG]LH PyJ SRG\VNXWRZD ] SDQHP 'DOH
HP R
IDWDOQ\FKVNXWNDFKVSR\ZDQLDDONRKROXSU]H]PRG]LH
6DPRFKyG SU]\KDPRZD L ]DSDUNRZD QD MHGQ\P ] ]DUH]HUZRZDQ\FK
PLHMVF SU]HG EXG\QNLHP Z NWyU\P RG ZLHNyZ WDMQH VWRZDU]\V]HQLH
6WUDQLNyZ PLDR VZRM VLHG]LE .LHURZFD ]JDVL VLOQLN L Z W\P VDP\P
PRPHQFLHSDQ0DUOH\Z\VNRF]\]IRWHODRERN/HGZLH]G\DPJRXSU]HG]L
LVDPDRWZRU]\GU]ZL:LHG]LDDPMXGRNDGQLHMDNPXVLVLF]XNUyORZD
JG\QDZHWQLHSR]ZDODMMHMVDPRG]LHOQLHZ\VL]VDPRFKRGX
:]LDPVZRMWRUELZ\JUDPROLDPVL]DXWDLJQRUXMFZ\FLJQLWUN
SDQD0DUOH\D
$]LHORQ\WRNRORU*LGHRQDPRQDSRZLHG]LHU]XFLDPWDNZHVRRMDN
W\ONRXPLDDP
+D&KDUORWWDQLHVNU]\ZLDVLZSUDZG]LHDOHQDMZ\UDQLHMWRMDZ\JUDDP
WUXQG.LHG\SU]HV]DPSDUNURNyZLPRJDPE\SHZQDHQLNWWHJRQLH
ZLG]L SR]ZROLDP VRELH QD PDOHNL WULXPIDOQ\ XPLHV]HN NWyU\ MHGQDN
QDW\FKPLDVW ]DPDU PL QD XVWDFK 1D VFKRGDFK SU]HGZHMFLHP GR NZDWHU\
JyZQHM 6WUDQLNyZ VLHG]LD Z VRFX *LGHRQ &KROHUD =D EDUG]R E\DP
]DMWDZ\P\ODQLHP]UF]Q\FKULSRVWGOD&KDUORWW\HE\UR]JOGDVLZRNy
VLHELH 'XUQH VHUFH ] PDUFHSDQX Z PRMHM SLHUVL QLH ZLHG]LDR F]\ PD VL
VNXUF]\]DOXF]\]DF]V]\EFLHMEL ]UDGRFL=REDF]\ZV]\QDV*LGHRQ
ZVWD L RWU]HSD VRELH GLQV\ =ZROQLDP NURNX ]DVWDQDZLDMF VL
JRUF]NRZRMDNVLZREHFQLHJR]DFKRZD=GUFGROQZDUJFK\EDQLH
XGD PL VL ]E\W ZLDU\JRGQLH RGHJUD ZHUVML XSU]HMPLH DOH Z\UDQLH
RERMWQLH1LHVWHW\ZHUVMDFKRGQRJG\RNURSQLHZFLHND]H:]JOGXQD
SU]HPRQ FK U]XFHQLD PX VL QD V]\M WH UDF]HM E\D QLH GR
]UHDOL]RZDQLD=DJU\]DPZLFNRSRWOLZGROQZDUJLVSUyERZDDPSDWU]H
1LH PLDDP SRMFLD MDN RQD WR URELD DOH MHM SHUOLVW\ PLHFK EU]PLD
QDSUDZGDXWHQW\F]QLH
,G]LHV]*ZHQQ\"
3U]\MG]LH]DG]LHVLPLQXWU]HN*LGHRQ
&]\WRQLHPRHSRF]HND"*LRUGDQRMHVW
3RZLHG]LDHP G]LHVL PLQXW 7RQ JRVX *LGHRQD R ZRV SU]HNURF]\
JUDQLF XSU]HMPRFL D SDQ 0DUOH\ VSUDZLD ZUDHQLH QDSUDZG
Z\VWUDV]RQHJRMDSHZQLHWH
&KDUORWWDZ]UXV]\DUDPLRQDPL
-DN XZDDV] 2GU]XFLD JRZ GR W\X L VL ]P\D 3DQ 0DUOH\
SRVSLHV]\]DQL
*G\ RERMH ]QLNQOL ]D GU]ZLDPL *LGHRQ MDNE\ ]DSRPQLD FR FKFH
SRZLHG]LH =QRZX JDSL VL QD W GXUQRZDW IDVDG GRPX QDSU]HFLZNR L
SRFLHUD VRELH GRQL NDUN MDNE\ ]DSD SDVNXGQ\ VNXUF] :UHV]FLH RERMH
MHGQRF]HQLH]DF]HUSQOLSRZLHWU]DL
-DNWZRMDUND"]DS\WDDP
-DN VL PDV]" ]DS\WD *LGHRQ Z W\P VDP\P PRPHQFLH 2ERMH VL
XPLHFKQOLP\
0RMDUNDMHVWZQDMOHSV]\PSRU]GNX:NRFXQDPQLHVSRMU]D
2FKPyM%RH7HRF]\.RODQD]QRZXPL]PLN\LXFLHV]\DPVLHQLH
PDMXWXWDMSDQD0DUOH\D
*ZHQGRO\Q WDN VWUDV]QLH PL SU]\NUR =DFKRZDHP VL NRPSOHWQLH
QLHRGSRZLHG]LDOQLH1LH]DVX\DQDWR:\JOGDQDWDNQLHV]F]OLZHJR
HE\RWRGODPQLHSUDZLHQLHGR]QLHVLHQLD
:F]RUDMZLHF]RUHPG]ZRQLHPGRFLHELHQDNRPyUN]HVWRUD]\DOHSU]H]
FD\F]DVE\R]DMWH
=DVWDQDZLDDP VL F]\ QLH XFL VSUDZ\ L QLH U]XFL PX VL 2G UD]X QD
V]\M $OH /HVOLH PyZLD HE\P PX WHJR ]E\WQLR QLH 8DWZLDD 3RGQLRVDP
ZLFW\ONRZ\F]HNXMFREUZL
1LHFKFLDHPVSUDZLFLEyOXSURV]XZLHU]PL-HJRJRVE\]XSHQLH
]DFKU\SQLW\ :F]RUDM ZLHF]RUHP Z\JOGDD QD EDUG]R VPXWQ L
UR]F]DURZDQ
7DNGREU\PLSU]\MDFLyPLNWyU]\VRELHXIDMLPRJQDVRELHZ]DMHPQLH
SROHJDRGU]HN
*LGHRQ%RWREDUG]RZDQHHE\PLXIDD
0LQDMHV]F]HMHGQDDOERGZLHVHNXQG\QLPSRMDPHZWHMUR]PRZLHZ
NWyU\P PRPHQFLH ]XSHQLH VL UR]PLQOLP\ 7\P FR SUyERZD PL
SRZLHG]LH*LGHRQQLHE\RSURV]Z\EDF]PLNRFKDPFLOHF]EGP\
SU]\MDFLyPLDNDG\NUHW\QZLHHWRVGZLH]XSHQLHUyQHU]HF]\
7R]QDF]\RHZFDOHVLZHPQLHQLH]DNRFKD
7R ]QDF]\R H MD L /HVOLH QDRJOGD\P\ VL ]D GXR NRPHGLL
URPDQW\F]Q\FK
7R]QDF]\R
W\ GUDQLX NU]\NQDP 2JDUQD PQLH ZFLHNR F]\VWD SRWQD
ZFLHNRWDNJZDWRZQDHNRPSOHWQLH]DFKU\SDP-DNPRQDE\WDN
SR]EDZLRQ\PXF]X-HGQHJRGQLDFDXMHV]VL]HPQLWZLHUG]LV]HVLZH
PQLH ]DNRFKDH QDVWSQHJR GQLD PyZLV] H FL SU]\NUR H MHVWH WDNLP
]DNDPDQ\PREU]\GOLZFHPDWHUD]FKFHV]HE\PFLXIDD"
: NRFX *LGHRQ WH ]UR]XPLD H NDGH ] QDV PLDRFR LQQHJR QD P\OL
8PLHFK]QLNQ]MHJRWZDU]\
*ZHQ
0DPFLMHV]F]HFRSRZLHG]LH"6]NRGDPLNDGHM]\NWyUSU]H]FLHELH
Z\ODDP&KFLDDPQDQLHJRQDZU]HV]F]HDOH]DEU]PLDRWRGRDRQLH
7\ONRVRELHQLHZ\REUDDMHE\RLFKWDNGXR2VWDWQLHVRZD]GRDDP
]DOHGZLHZ\FKU\SLH
*ZHQ *LGHRQ SUyERZD FKZ\FL PQLH ]D UN 2 %RH 7DN PL
SU]\NUR-DQLHFKFLDHPSURV]
&RSURV]"5]XFLDPPXJQLHZQHVSRMU]HQLH
&]\RQQLHZLG]LHW\ONRSRJDUV]DVSUDZ",F]\VG]LHMHJRSVLZ]URN
FR WX ]PLHQL" &KFLDDP VL RGZUyFL DOH *LGHRQ SU]\WU]\PD PQLH ]D
SU]HJXE\UN
*ZHQ SRVXFKDM &]HNDM QDV QLHEH]SLHF]QH FKZLOH L RJURPQLH ZDQH
MHVW E\P\ WU]\PDOL VL UD]HP W\ L MD -D MD QDSUDZG EDUG]R FL OXEL L
FKFHE\P\
1LHFK RQ MX QLF QLH PyZL 1LH WH Z\ZLHFKWDQH VRZD $OH ZDQLH WR
]UREL
E\OLSU]\MDFLyPL1LHUR]XPLHV]WHJR"7\ONRMHOLEG]LHP\PRJOLVRELH
Z]DMHPQLHXID
:\UZDDPPXVL
1LHFKF]DSU]\MDFLHODNRJRWDNLHJRMDNW\*RVPLSRZUyFLLWHUD]E\
WDN GRQRQ\ H JRELH VIUXQ\ ] GDFKX 1LH PDV] SRMFLD F]\P MHVW
SU]\MD
,QDJOHZV]\VWNRSRV]RMDN]SDWND2GU]XFLDPHQHUJLF]QLHZRV\GRW\X
RGZUyFLDPVLQDSLFLHLRGHV]DP
6NDF]LOHFFZGySR]ZyOE\Z\URV\FLVNU]\GD
5D\%UDGEXU\
5R]G]LD
=RVWDP\ SU]\MDFLyPL WHQ WHNVW WR MX GRSUDZG\ E\ V]F]\W L 1D
SHZQR ]D NDG\P UD]HP JG\ NWR Z\SRZLDGD WH VRZD JG]LH QD ZLHFLH
XPLHUDMHGQDQLPIDSRZLHG]LDDP
=DPNQDP VL ] NRPyUN Z WRDOHFLH L ]H ZV]\VWNLFK VL VWDUDDP VL QLH
NU]\F]H FKR Sy JRG]LQ\ SR UR]PRZLH ] *LGHRQHP SU]H] FD\ F]DV
MHV]F]HPLDDPRFKRWWR]UREL
3RZLHG]LD H FKFH HE\FLH E\OL SU]\MDFLyPL SRSUDZLD PQLH /HVOLH
NWyUDMDN]Z\NOHGRNDGQLH]DSDPLWDDNDGHVRZR
3U]HFLHWRFDNLHPWRVDPR]DXZD\DP
1LHWR]QDF]\PRH/HVOLHZHVWFKQD1LHUR]XPLHP,W\PUD]HPQD
SHZQR GDD PX GRNRF]\" 1R ZLHV] G]LHVL U]HF]\ NWyU\FK Z WRELH
QLHQDZLG]WR
3R]ZROLDP PX GRNRF]\ QLHVWHW\ FK\ED QLHVWHW\ 6SRMU]DDP QD
]HJDUHN2FKROHUD
3RZLHG]LDDPSDQX*HRUJH
RZLHZUyF]DPLQXW5]XFLDPVSRMU]HQLH
ZOXVWURZLV]FHQDGVWDURPRGQXP\ZDON2FKROHUDSRZWyU]\DP1D
PRLFK SROLF]NDFK ZLGQLD\ GZLH RNUJH F]HUZRQH SODP\ &K\ED PDP
UHDNFMDOHUJLF]Q
7R W\ONR SODP\ ]H ]RFL SRVWDZLD ]DRF]Q GLDJQR] /HVOLH NLHG\
RSLVDDPMHMFRZLG]$MDN]WZRLPLRF]DPL"0LRWDMJURQHLVNU\"
:OHSLDPZ]URNZRGELFLHZOXVWU]H
+P Z VXPLH WDN :\JOGDP WURFK MDN +HOHQD %RQKDP&DUWHU MDNR
%HOODWUL[/HVWUDQJHZ+DUU\P3RWWHU]H'R]RZURJR
, R WR FKRG]L 3RVXFKDM WHUD] VWDPWG Z\MG]LHV] L EG]LHV] VL
]DFKRZ\ZDDMDNJG\E\QLJG\QLFGREUD"
3RVXV]QLHRELHFDDPHWDN]UREL
3RUR]PRZLH]/HVOLHSRF]XDPVLWURFKOHSLHMPLPRH]LPQDZRGDQLH
E\DZVWDQLH]P\DQL]RFLDQLF]HUZRQ\FKSODPQDSROLF]NDFK
1DZHWMHOLSDQ*HRUJHE\]G]LZLRQ\JG]LHVLWDNGXJRSRG]LHZDDPWR
QLHGDWHJRSRVRELHSR]QD
:V]\VWNRZSRU]GNX"VS\WDSU]\MDQLH&]HNDQDPQLHSU]HG6WDU\P
5HIHNWDU]HP
: QDMOHSV]\P 6SRMU]DDP SU]H] RWZDUWH GU]ZL DOH QLH E\RZLGD DQL
*LRUGDQDDQL&KDUORWW\
$ E\DP MX EDUG]R PRFQR VSyQLRQD QD OHNFM 0XVLDDP HHH
QDR\VRELHRGQRZDUy
3DQ*HRUJHVLXPLHFKQ3UyF]NXU]\FKDSHNZRNyRF]XLZNFLNDFK
XVW QLF Z MHJR RNUJHM PLHM WZDU]\ QLH ]GUDG]DR H PLD MX JUXER SRQDG
VLHGHPG]LHVLW ODW : MHJR \VLQLH RGELMDR VL ZLDWR D FDD JRZD
SU]\SRPLQDDJDGNRZ\SROHURZDQNXOGRNUJOL
1LHPRJDPLQDF]HMPXVLDDPRGSRZLHG]LHPXXPLHFKHP:LGRNSDQD
*HRUJH
D]DZV]HQLH]Z\NOHDJRG]FRZS\ZDQDPRMDJUHVM
1DSUDZG WDN VL WR WHUD] QRVL Z\MDQLDP ZVND]XMF SODP\ QD
SROLF]NDFK
3DQ*HRUJHSRGDPLUDPL
&KRGPRMDG]LHOQDG]LHZF]\QNRU]HN-X]DSRZLHG]LDHPQDGROH
HSU]\MG]LHP\QDHODSVM
6SRMU]DDPQDQLHJR]DVNRF]RQD
$FR]*LRUGDQHPLSROLW\NNRORQL]DF\MQZRVLHPQDVW\PZLHNX"
3DQ*HRUJHXPLHFKQVLOHNNR
8MPLMP\WRWDNZ\NRU]\VWDHPWPDSU]HUZZF]DVLHWZRMHMZL]\W\Z
D]LHQFH HE\ Z\WXPDF]\ SDQX *LRUGDQR H G]LVLDM QLH PDV] F]DVX QD
QDXN
3RF]FLZ\ GURJL SDQ *HRUJH %\ ZUyG 6WUDQLNyZ MHG\Q\P F]RZLHNLHP
NWyUHPXQDMZ\UDQLHMQLHE\DPFDNRZLFLH2ERMWQD&KR]GUXJLHMVWURQ\
Z F]DVLH QDXNL PHQXHWD PRH WURFK E\P VL Z\\D" 7DN MDN QLHNWyU]\
OXG]LHUR]DGRZXM]RZDOFZZRUHNERNVHUVNL$OERLGFGRVLRZQL7\OH
H]DUR]XPLD\XPLHV]HN&KDUORWW\DNXUDWQLHE\PLGRQLF]HJRSRWU]HEQ\
3DQ*HRUJH]QyZSRGVXQPLUDPL
&KURQRJUDIF]HND
=RFKRWXMDPJRSRGUN']LZ\MWNRZRFLHV]\DPVLQDHODSVMPyM
FRG]LHQQ\ NRQWURORZDQ\ VNRN Z F]DVLH L WR QLH W\ONR GODWHJR H XFLHNDDP
SU]HG VWUDV]Q U]HF]\ZLVWRFL NWyUHM E\R QD LPL *LGHRQ ']LVLHMV]\ VNRN
3DQ*HRUJHGXJRSU]\JOGDPLVL]ERNXDOHZNRFXW\ONRFLVQPRMH
UDPL L ZHVWFKQ : UHJXODUQ\FK RGVWSDFK &]DVX PLMDOLP\ U\FHUVNLH
]EURMHLMDN]DZV]HPLDDPQLHSU]\MHPQHZUDHQLHHPQLHREVHUZXM
7DPZURGNXNWRMHVWSUDZGD"V]HSQDPGRSDQD*HRUJH
D-DNL
ELHGQ\ QRZLFMXV] NWyU\ SU]H] FD\ G]LH QLH PRH SyM GR WRDOHW\ FR"
:LG]HVLQDQDVJDSL
1LH ]DSU]HF]\ SDQ *HRUJH L FLFKR VL ]DPLD $OH : KHPDFK
]DLQVWDORZDQRNDPHU\SU]HP\VRZHLSHZQLHGODWHJRFLVL]GDMHHNWRQD
FLHELHSDWU]\
$KDNDPHU\SU]HP\VRZH+PLPSU]\QDMPQLHMQLHPXVLDDPZVSyF]X
.LHG\GRWDUOLP\GRSLHUZV]\FKVWRSQLSURZDG]F\FKGRSLZQLF\SU]\V]R
PLGRJRZ\HSDQ*HRUJHRF]\PMHGQDN]DSRPQLD
$QLHFKFHPLSDQ]DZL]DRF]X"
0\OHG]LVLDMPRHP\WRVRELHGDURZDSRZLHG]LDSDQ*HRUJH1LH
PDWXQLNRJRNWRE\QDPWHJR]DEURQLSUDZGD"
6SRMU]DDP QD QLHJR ]DVNRF]RQD =Z\NOH FD W GURJ SRNRQ\ZDDP ]
RF]DPLSU]HZL]DQ\PLF]DUQFKXVWNSRQLHZD6WUDQLF\QLHFKFLHOLHE\P
PRJDVDPRG]LHOQLHRGQDOHGURJGRFKURQRJUDIXXPROLZLDMFHJRSRGUyH
Z F]DVLH = MDNLHJR SRZRGX XZDDOL ]D SUDZGRSRGREQH H PRJDE\P JR
XNUD &R RF]\ZLFLH E\R E]GXU &KURQRJUDI QLH W\ONR E\ GOD PQLH
VWUDV]Q\ G]LDD QD NUHZ 1LH PLDDP WH EODGHJR SRMFLD MDN X\ZD W\FK
QLH]OLF]RQ\FK]EDWHNGZLJQLLSU]HJUyGHN
$OHMHOLFKRG]LRMHJRHZHQWXDOQNUDG]LHZV]\VF\6WUDQLF\PLHOLQDW\P
SXQNFLHKRSOD
3U]\F]\QLFK]DFKRZDQLDSUDZGRSRGREQLHE\RWRHNLHG\LVWQLD\GZD
FKURQRJUDI\
6LHGHPQDFLH ODW WHPX PRMD NX]\QND /XF\ L MHM FKRSDN 3DXO QXPHU
G]LHZL L G]LHVL Z NUJX SRGUyQLNyZ Z F]DVLH XFLHNOL ] MHGQ\P ] QLFK
-DNLH GRNDGQLH E\\ PRW\Z\ WHM NUDG]LH\ WHJR GRWG QLH ]GRDDP VL
GRZLHG]LHLZRJyOHFDDWDVSUDZDE\DGODPQLHQLHMDVQD
1D PDUJLQHVLH PDGDPH 5RVVLQL SURVLD HE\ FL SU]HND]D L MHGQDN
Z\EUDD LQQ\ NRORU WZRMHM EDORZHM VXNQL 1LHVWHW\ ]DSRPQLDHP MDNL DOH
MHVWHP SU]HNRQDQ\ H EG]LHV] Z\JOGDD ]DFKZ\FDMFR 3DQ *HRUJH
7DNGODF]HJR"PUXNQSDQ*HRUJH:\JOGDQDWRHVLFLHELHERL
,WHJRF]HJRE\VLMHV]F]HPRJDGRZLHG]LHJG\E\PLDDZLFHMF]DVX
'RVWDUHMSUDFRZQLDOFKHPLF]QHMQLHE\RMXGDOHNR-HOLVLQLHP\OLDP
PXVLDDE\]DUD]]DQDVWSQ\P]DNUWHP'ODWHJR]ZROQLDPNURNX
%RL VL PQLH" 7HQ JR PQLH GXVL QLH GRW\NDMF D SRQLHZD SRWUDIL
WDNHF]\WDZP\ODFKZLHGRNDGQLHHWRMDRNURSQLHVLJRERMDQLHQD
RGZUyW
'XVLFL"1LHGRW\NDMF"3DQ*HRUJH]DWU]\PDVLLVSRMU]DQDPQLH
]V]RNRZDQ\ :LHONLH QLHED *ZHQGRO\Q GODF]HJR QLF PL R W\P QLH
SRZLHG]LDD"
$XZLHU]\E\PLSDQ"
3DQ *HRUJH SRWDU GRQL \VLQ L MX RWZLHUD XVWD HE\ FR SRZLHG]LH
NLHG\ XV\V]HOLP\ ]EOLDMFH VL NURNL L RGJRV ]DWU]DVNXMF\FK VL FLNLFK
GU]ZL 3DQ *HRUJH Z\JOGD QD Z\VWUDV]RQHJR 3RFLJQ PQLH ]D UyJ Z
VWURQ]NWyUHMGRELHJQDVGZLN]DP\NDQ\FKGU]ZLLZ\JU]HED]NLHV]HQL
PDU\QDUNLF]DUQFKXVWN
7\PNWyU\QDGV]HGNXQDPVSU\VW\PNURNLHPE\)DONGH9LOOLHUVZXM
*LGLRQD:LHONL0LVWU]/R\6WUDQLNyZ8PLHFKQVLQDQDV]ZLGRN
2WXMHVWHFLH%LHGQ\0DUOH\MXND]DVS\WDSU]H]LQWHUNRPJG]LHVL
SRG]LDOLFLHDMDSRP\ODHPH]RULHQWXMVLZV\WXDFML
=DPUXJDDPROHSLRQDLSU]HWDUDPRF]\MDNE\SDQ*HRUJHZDQLHSU]HG
FKZLO ]GM PL RSDVN DOH QDMZ\UDQLHM E\R WR ]XSHQLH ]EGQH
SU]HGVWDZLHQLH SRQLHZD )DON GH 9LOOLHUV QLH ]ZUyFL QD PQLH QDMPQLHMV]HM
XZDJL 2WZRU]\ GU]ZL GR SRPLHV]F]HQLD ] FKRQRJUDIHP F]\OL GR SUDFRZQL
DOFKHPLF]QHM
)DON E\ PRH SDU ODW VWDUV]\ RG QDV]HM PDP\ L Z\JOGD ZLHWQLH MDN
ZV]\VF\ 9LOOLHUVRZLH NWyU\FK SR]QDDP GR WHM SRU\ : P\ODFK
SRUyZQ\ZDDPLFK]DZV]H]VDPFDPLDOID]ZDWDK\ZLONyZ-HJREXMQHZRV\
MXSRVLZLD\LWHUD]SLNQLHNRQWUDVWRZD\]RF]DPLREDUZLHEXUV]W\QX
1R 0DUOH\ZLG]L SDQ QLNW QLH ]JLQ ]ZUyFLVLMRZLDOQ\P WRQHP GR
SDQD 0DUOH\D NWyU\ VLHG]LD Z SRPLHV]F]HQLX , FKURQRJUDIHP WHUD] ]D
]HUZDVL]PLHMVFDQHUZRZRZ\NUFDMFVRELHSDOFH
-D W\ONR MD W\ONR P\ODHP H QD ZV]HONL Z\SDGHN =DMNQ VL
3URV]PLZ\EDF]\
%DUG]RMHVWHP\UDG]LHWDNSRZDQLHWUDNWXMHSDQVZRMH
RERZL]NL
SRZLHG]LDSDQ*HRUJH
*G]LHMHVWSDQ:KLWPDQ"]DS\WD)DON%\OLP\XPyZLHQLQDKHUEDW
]G]LHNDQHP6P\WKH
HPSU]\V]HGHPSRQLHJR
:DQLHSU]HGFKZLOZ\V]HGRGU]HNSDQ0DUOH\:DFLZLHSRZLQLHQ
E\SDQJRVSRWND
2FKZWDNLPUD]LHVLSRVSLHV]PRHJRMHV]F]HGRJRQL7\WHLG]LHV]
7KRPDV"
3DQ*HRUJHVNLQJRZU]XFDMFPLV]\ENLHVSRMU]HQLH
=REDF]\P\VLMXWUR*ZHQGRO\Q3U]HGZLHONLPEDOHPSRZLHG]LD)DON
DZGU]ZLDFKMHV]F]HVLRGZUyFL$KDLSR]GUyZRGHPQLHPDPGRGD
RGQLHFKFHQLD-DNRQDVLF]XMHZSRU]GNX"
0RMDPDPD"7DNF]XMHVLGREU]H
&LHV]\ PQLH WR 0XVLDDP Z\JOGD QD ]G]LZLRQ ER RGFKU]NQ
6DPRWQH SUDFXMFH PDWNL QLH PDM G]L DWZHJR \FLD GODWHJR PQLH WR
FLHV]\
7\PUD]HP]UR]P\VHPVSRMU]DDPQDQLHJR]G]LZLRQD
$PRHPRHZFDOHQLHMHVWVDPD"7DNDDWUDNF\MQDNRELHWDMDN*UDFH
QD SHZQR VSRW\ND VL ] PF]\]QDPL PRH QDZHW PD NRJR QD VWDH
)DON SRSDWU]\ QD PQLH Z\F]HNXMFR DOH NLHG\ ]PDUV]F]\DP F]RR ]HUNQ
QD]HJDUHN2MHMNU]\NQ$OHSyQR7HUD]QDSUDZGPXV]MXL
&]\WRE\WRS\WDQLH"XSHZQLDPVLNLHG\)DON]DPNQ]DVREGU]ZL
7DNSRWZLHUG]LOL SDQ*HRUJHLSDQ0DUOH\UyZQRF]HQLHDSDQ0DUOH\
]DF]HUZLHQL VL MDN EXUDN +P GOD PQLH Z NDG\P UD]LH ]DEU]PLDR WDN
MDNE\FKFLDVLGRZLHG]LHF]\PDNRJRQDVWDHPUXNQ
3DQ*HRUJHVLUR]HPLD
)DONPDUDFMU]HF]\ZLFLHMHVWMXSyQR-HOLQDV]UXELQFKFHMHV]F]H
PLH FR ] WHJR ZLHF]RUD PXVLP\ JR WHUD] Z\VD Z SU]HV]R .WyU\ URN
Z\ELHUDP\*ZHQGRO\Q"
ZLHONL H ]D MHJR UyZQRZDUWR SHZQLH PRQD E\ NXSL ZLHORURG]LQQ\ GRP
QDSU]HGPLHFLDFK
0\O ]DF] SDQ *HRUJH H QD W\OHMHVWHP\ GHQWHOPHQDPL E\ QLH
ND]DPRGHMGDPLHVLHG]LHVDPRWQLHQRFZSLZQLF\SUDZGD/HR"
3DQ0DUOH\QLHSHZQLHNLZQJRZ
/HRWRDGQHLPL]DXZD\DP
7R RG /HRSROGD Z\MDQL SDQ 0DUOH\ D MHJR XV]\ ZLHFL\ MDN W\OQH
ZLDWD VDPRFKRGX 8VLDG SU]\ VWROH SRR\ SU]HG VRE G]LHQQLN L ]GM
VNXZN]SLyUD'UREQHUyZQHSLVPRNWyU\P]DSLVDQRWDPGXJLHFLJLGDW
JRG]LQLQD]ZLVNQDMZ\UDQLHMZ\V]RVSRGMHJRUNL0RMDPDWNDXZDDH
WRLPLMHVWRNURSQHDOHZQDV]HMURG]LQLHRWU]\PXMHMHNDG\SLHUZRURGQ\WR
WUDG\FMD
/HR MHVW Z SURVWHM OLQLL SRWRPNLHP EDURQD 0LURVDZD $OHNVDQGUD
/HRSROGD5DNRF]HJR3DQ
*HRUJH RGZUyFL VL V]\ENR L VSRMU]D PL Z RF]\ :LHV] WHJR
OHJHQGDUQHJR WRZDU]\V]D KUDELHJR GH 6DLQW *HUPDLQ ]QDQHJR Z .URQLNDFK
MDNR&]DUQ\/DPSDUW
2VXSLDDP
2FKQDSUDZG"
:P\ODFKSRUyZQDDPSDQD0DUOH\D]FKXG\PEODG\P5DNRF]\PNWyU\
QDSG]L PL WDNLHJR VWUDFKD VZRLPL F]DUQ\PL RF]DPL 1LH E\DP MHGQDN
SHZQD F]\ SRZLQQDP SRZLHG]LH 1R WR QLHFK SDQ VL FLHV]\ H Z\JOGD
LQDF]HM QL SDVNL SU]RGHN VSRG FLHPQHM JZLD]G\ F]\ PRH MHGQDN JRU]HM
E\UXG\PSDSXQ\PLSLHJRZDW\P
7R ]QDF]\ PyM G]LDGHN ]H VWURQ\ RMFD UR]SG]L VL SDQ 0DUOH\ DOH
SDQ*HRUJHV]\ENRPXSU]HUZD
3DVNL G]LDGHN ] SHZQRFL E\E\ ] SDQD GXPQ\ SRZLHG]LD
]GHF\GRZDQ\P WRQHP 3U]HGH ZV]\VWNLP JG\E\ ZLHG]LD ] MDN EUDZXU
]GDSDQZV]\VWNLHHJ]DPLQ\GRGDSRFKZLOL
3UyF] 7UDG\F\MQ\FK DNFML ZRMVNRZ\FK ]D]QDF]\ SDQ 0DUOH\ 7X
RWU]\PDHPOHGZLHGRVWDWHF]Q\
2FKDNRPXMHV]F]HZRJyOHMHVWSRWU]HEQDWDSU]HVWDU]DDG\VF\SOLQD
3DQ*HRUJHZ\FLJQGRPQLHUN*ZHQGRO\QMDMHVWHPJRWRZ\)UXGR
'OD PQLH WR E\R SDU GQL Z FLJX NWyU\FK Z\GDU]\R VL VWUDV]QLH GXR
U]HF]\
/XFDVSU]HMHFKDGRQLSRZVDFKLXPLHFKQVLV]HURNR
$ZLFW\VLWX]SRZURWHPQRQRZQXF]NRWRE\RVSU\WQH]WZRMHM
VWURQ\
3UDZGD" $OH PyZLF V]F]HU]H WR E\ SRP\V PRMHM SU]\MDFLyNL /HVOLH
HE\ QLH E\R ZWSOLZRFL H QD SHZQR FL VSRWNDP , HE\P\ QLH WUDFLOL
F]DVX
7DN DOH MD Z RJyOH QLH ]G\HP VL ]DVWDQRZL QDG QDV]\P GDOV]\P
SRVWSRZDQLHP &KFLDHP ZDQLH RGSRF] QLHFR SR WZRMHM ZL]\FLH L
SRP\OH R W\P ZV]\VWNLP 3U]HFK\OL JRZ L ]PLHU]\ PQLH Z]URNLHP
5]HF]\ZLFLH Z\JOGDV] LQDF]HM QL SU]HGWHP 1LH PLDD WHM NODPU\ ZH
ZRVDFKL]HV]F]XSODD
']LNXMSRZLHG]LDDP
7R QLH E\ NRPSOHPHQW :\JOGDV] MDNE\ QLH F]XD VL GREU]H
3RGV]HGNURNEOLHMLVSRMU]DQDPQLHEDGDZF]R:V]\VWNRZSRU]GNX"
]DS\WDDJRGQLH
: QDMOHSV]\P FKFLDDP SRZLHG]LH DOH NX ZDVQHPX SU]HUDHQLX
Z\EXFKQDPSDF]HP
:QDMOHSV]\PZ\FKOLSDDP
2MHM/XFDVQLH]GDUQLHSRNOHSDPQLHSRSOHFDFK$WDNOH"
3U]H]NLONDPLQXWQLHPRJDP]URELQLFLQQHJRMDNSR]ZROLS\Q]RP
$ MX P\ODDP H XGDR PL VL Z]L Z JDU *QLHZ X]QDDP ]D
RGSRZLHGQL UHDNFM QD ]DFKRZDQLH *LHRQD WDN GRURV L RGZDQ 3R]D
W\P]QDF]QLHEDUG]LHMILOPRZQLWHQFLJ\V]ORFK$OHWHUD]RND]DRVLH
;HPHULXVVLDUDFMSRUyZQXMFPQLHGRSRNRMRZHMIRQWDQQ\
3U]\MDFLyPL Z\NU]WXVLDP ZUHV]FLH ER G]LDGNRZL QDOHDR VL
Z\MDQLHQLH2QFKFHHE\P\]RVWDOLSU]\MDFLyPLHE\PPXXIDD/XFDV
SU]HVWDPQLHSRNOHS\ZDSRSOHFDFKLQLFQLHUR]XPLHMF]PDUV]F]\F]RR
,WRMHVWSRZyGGRSDF]XSRQLHZD
3RQLHZDMHV]F]HZF]RUDMPyZLPLHPQLHNRFKD
/XFDV SDWU]\ WDN MDNE\ UR]XPLD MHV]F]H PQLHM R LOH WR : RJyOH E\R
PROLZH
$OHPQLHVLZ\GDMHHWRQLHVQDMJRUV]HSRGVWDZ\GRSU]\MDQL
0RMH ]\ JZDWRZQLH Z\VFK\ MDNE\ NWR Z\FLJQ ZW\F]N = SRNRMRZHM
IRQWDQQ\
']LDGNX 1LH F]HSLDM VL VyZ ]DZRDDP 1DMSLHUZ FDRZD VL ]H
PQDSRWHPVLGRZLDGXMHWRZV]\VWNRE\DW\ONRWDNW\NDLPDQLSXODFMD
DRQZ\VNDNXMH]W\PWHNVWHPRE\FLXSU]\MDFLyPL
2FK 5R]XPLHP &R ]D KP GUD /XFDV QDGDO QLH :\JOGD QD
FDNRZLFLHSU]HNRQDQHJR
3U]HSUDV]DP H WDN JXSLR S\WDP DOH PDP QDG]LHM H P\ QLH
UR]PDZLDP\ FD\ F]DV R W\P FKRSFX ] URG]LQ\ GH 9LOOLHUV QXPHU]H
MHGHQDVW\PGLDPHQFLH"
$OH WDN SRZLHG]LDDP :DQLH R QLP UR]PDZLDP\ 0yM G]LDGHN
ZHVWFKQ
$ ZLF U]HF]\ZLFLH 2FK NXUF]DF]NX , EH] WHJR FDD VSUDZD MHVW
Z\VWDUF]DMFRVNRPSOLNRZDQD
3RGD PL FKXVWHF]N GR QRVD L Z]L RGH PQLH WRUE 'RV\ SDF]X
SRZLHG]LDHQHUJLF]QLH,OHPDP\F]DVX"
2GZXG]LHVWHMGUXJLHMWZRMHJRF]DVXSU]HVNRF]]SRZURWHPHE\E\R
PLHV]QLHM SDF] GREU]H PL ]UREL ]QDF]QLH OHSLHM QL GRURVD ZHUVMD ]
JQLHZHP0yZLHFRRNXUF]DNDFK"%RMDFK\EDMHVWHPWURFKJRGQD
/XFDVDVLUR]HPLD
1R WR OHSLHM FKRGP\ QD JyU 7XWDM PRQD GRVWD NODXVWURIRELL 3R]D
W\PPXV]]DG]ZRQLGRGRPXLXSU]HG]LHVLVSyQL2WZRU]\GU]ZL
&KRG W\ PD\ NXUF]DF]NX 0RHV] PL ZV]\VWNR RSRZLHG]LH SR GURG]H,
QLH]DSRPQLMQDZ\SDGHNJG\E\FLNWR]REDF]\MHVWH
+D]HOPRMDNX]\QND]HZVL
1LHFD JRG]LQ SyQLHM VLHG]LHOLP\ Z ELXU]H /XFDVD JRZ\ QDP
SDURZD\ PLHOLP\ SU]HG VRE FD PDV NDUWHF]HN ] QRWDWNDPL ]RRQ\PL
JyZQLH ] GDW NyHN VWU]DHN L ]QDNyZ ]DS\WDQLD SR]D W\P JUXEH IROLD\
.URQLNL 6WUDQLNyZ ] NLONX G]LHVLFLROHFL RUD] RERZL]NRZ\ WDOHU] ]
FLDVWHF]NDPL NWyU\FK 6WUDQLF\ QDMZ\UDQLHM SRFKDQLDOL ZLHONLH LORFL ZH
ZV]\VWNLFK HSRNDFK 7HQ NXUF]DN WR FK\ED MHGQDN E\R QLHSRUR]XPLHQLH
1LHVWHW\
=D PDR LQIRUPDFML ]D PDR F]DVX SRZWDU]D FR FKZLO /XFDV .U\
SR SRPLHV]F]HQLX MDN QLHVSRNRMQ\ W\JU\V Z NODWFH L QHUZRZR PLHU]ZL VRELH
ZRV\WDNHZNUyWFHPLPRSRPDG\]DF]\PXVWHUF]H&RWHMDPRJHP
XNU\ZWHMVNU]\QFH"
0RH NVLN ]H ZV]\VWNLPL LQIRUPDFMDPL MDNLFK SRWU]HEXM"
SRGSRZLDGDDP
%H] SUREOHPX PLQOLP\ VWUDH SU]\ VFKRGDFK PRG\ PF]\]QD Z
GDOV]\P FLJX VSDMDN SRGF]DV PRMHM SRSU]HGQLHMZL]\W\ 2G DONRKRORZ\FK
Z\]LHZyZDPQLH]HPGOLRJG\JRPLMDDP
: URNX 6WUDQLF\ PLHOL ]QDF]QLH ZLNV]\ OX] QL P\ODDP 1LNRJR
QLH G]LZLR H /XFDV MHVW WX SR]D JRG]LQDPL SUDF\ L QLNRPX QLH
SU]HV]NDG]DRHWRZDU]\V]\PXNX]\QND+D]HO]HZVL
1DZLDVHP PyZLF R WHM SRU]H SUDZLH QLNRJR QLH E\R MX Z EXG\QNX
0RG\SDQ*HRUJHWDNVNRF]\SUDFDV]NRGDERFKWQLH]QRZXE\PVL]
QLP]REDF]\D
.VLN"+PPRH/XFDVZ]DP\OHQLXSRJU\]DFLDVWHF]NR
-XWU]\UD]\FKFLD ]DSDOLSDSLHURVDDOH]DNDG\PUD]HPZ\MPRZDDP
PX JR ] UNL 1LH FKFLDDP HE\ ]QRZX E\R F]X RGH PQLH G\P
SDSLHURVRZ\NLHG\SU]HVNRF]]SRZURWHPZF]DVLH
7H ]DV]\IURZDQH ZVSyU]GQH PDM VHQV SRGREDM PL VL L SDVXM GR
PQLH=DZV]HPLDHPVNRQQRFLGRF]HJRWDNLHJR7\ONRVNG/XF\L3DXO
ZLHG]LHOLRW\PNRG]LHZWHMWDPNVLFHRyW\PNRQLX"
2 ]LHORQ\P MHGFX G]LDGNX SRSUDZLDP JR FLHUSOLZLH 7D NVLND
VWDD Z WZRMHM ELEOLRWHFH D NDUWND ] NRGHP E\D VFKRZDQD PLG]\ MHM
VWURQDPL0RHWR3DXOL/XF\MWDP:R\OL"
$OH WR QLHORJLF]QH 6NRUR ]QLNQOL Z URNX GODF]HJR URN SyQLHM
ND]DHP ]DPXURZD VNU]\QN ZH ZDVQ\P GRPX" =DWU]\PD VL SDWU]F
QDNVLNL=DUD]RV]DOHM=QDV]WRXF]XFLHNLHG\F]RZLHNRZLVL]GDMHH
UR]ZL]DQLH MHVW QD :\FLJQLFLH UNL" &KFLDE\P HE\ ]D SRPRF
FKURQRJUDIX GDR VL WH SRGUyRZD Z SU]\V]R ZWHG\ VDPD PRJDE\
PQLHSU]HS\WD
1DJOH SU]\V]HG PL GR JRZ\ SRP\V L E\ WDN GREU\ H PLDDP RFKRW
SRNOHSDVLSRSOHFDFK
3RP\ODDPRW\PFRG]LDGHNRSRZLHG]LDPLRVWDWQLPUD]HP2Wy/XF\L
3DXO QXG]F VL SRGF]DV HODSVML SU]HVNDNLZDOL MHV]F]H GDOHM Z SU]HV]R L
SU]H\ZDOL WDN IDVF\QXMFH U]HF]\ MDN RJOGDQLH RU\JLQDOQ\FK SU]HGVWDZLH
V]HNVSLURZVNLFK
0DP ]DZRDDP L ]DSUH]HQWRZDDP NUyWNL WDQLHF UDGRFL ']LDGHN
]PDUV]F]\F]RR
&RWDNLHJRPDV]"
$FRE\E\RJG\E\]DSRPRFZDV]HJRFKURQRJUDIXZ\VDPQLHGDOHM
ZSU]HV]R"Z\U]XFLDP]VLHELH:WHG\PRJDE\PVLVSRWND]/XF\L
3DXOHPLSRSURVWXLFK]DS\WD
/XFDVSRGQLyVJRZ
$ NLHG\ FKFHV] VL ] QLPL VSRWND" 3U]HFLH QDZHW QLH ZLHP\ Z MDNLHM
HSRFHVLXNU\OL
1RWDNDOHZLHP\QDSU]\NDGNLHG\ZDVWXRGZLHG]DOL*G\E\PGRZDV
GRF]\DPRJOLE\P\UD]HPSRUR]PDZLDLZVSyOQLH
']LDGHNPLSU]HUZD
: F]DVLH LFK ZL]\W Z ODWDFK L ] URNX L
Z\PLHQLDMF WH ODWD VWXNDZ QDV]H NDUWHF]NL LZRG]L SDOFHPZVND]XMF\P
SRVWU]DNDFK/XF\L3DXOWHMHV]F]HZLHG]LHOLQLHGRGXRDZV]\VWNRFR
ZLHG]LHOL VNUXSXODWQLH PL SU]HND]DOL 1LH MHOL Z RJyOH WR SRZLQQD VL ]
QLPL VSRWND SR W\P MDN XFLHNOL ] FKURQRJUDIHP =QRZX JZDWRZQLH
]DVWXNDZQDV]HQRWDWNL
7RE\PLDRVHQVZV]\VWNRLQQHVSRZRGXMHW\ONRGRGDWNRZH]DPLHV]DQLH
1RWRWRSU]HVNRF]GRURNXWDPJG]LHLFKMXNLHG\VSRWNDDP
GRODG\7LOQH\ZMHMGRPXSU]\(DWRQ3ODFH
7R E\RE\ MDNLH Z\MFLH DOH F]DVRZR VL QLH XGD /XFDV VSRMU]D QD
FLHQQ\]HJDU1LHE\DSHZQDGDW\DFyGRSLRPyZLRJRG]LQLH,QLH
]DSRPLQDM R W\P H QDMSLHUZ PXVLHOLE\P\ ZF]\WD WZRM NUHZ GR
FKURQRJUDIX Z SU]HFLZQ\P MD]LH QLH EG]LHV] PRJD ]D MHJR SRPRF
SRGUyRZDZF]DFLH=QRZX]PLHU]ZLVRELHZRV\,ZUHV]FLHPXVLDDE\
FDNLHPVDPDXGDVLVWGGR%HOJUDYLLDZURNXWRSHZQLHQLHE\RE\
WDNLH SURVWH $FK L SRWU]HERZDOLE\P\ GOD FLHELH NRVWLXPX QLH Z WDN
NUyWNLPF]DVLHPLPRQDMOHSV]\FKFKFLWRMHVWQLHGR]URELHQLD
0XVLP\Z\P\OLFRLQQHJR5R]ZL]DQLHPDPQDNRFXM]\ND0XV]
VLMHV]F]HW\ONRSU]H]
&KZLO]DVWDQRZLLPRH]DSDOLSDSLHURVD
3RNUFLDPJRZ1LHWDNV]\ENRVLQLHSRGGDP:LHG]LDDPHWRGREU\
SRP\V
3U]HFLH PRHP\ SU]HQLH FKURQRJUDI GR GRPX ODG\ 7LOLQH\ MHV]F]H Z
W\FK F]DVDFK L SU]HVNRF]\DE\P RG UD]X WDP 7R E\ SR]ZROLR ]DRV]F]G]L
PDVF]DVXSUDZGD"1RDMHOLFKRG]LRNRVWLXP&]HPXVLWDNZHPQLH
ZSDWUXMHV]"VS\WDDPERRF]\/XFDVDQDJOHEDUG]RV]HURNRVLRWZRU]\\
2PyM%RHZ\V]HSWD7RMHVWWR
&R"
&KURQRJUDI :QXF]NR MHVWH JHQLDOQD /XFDV REV]HG VWy L PQLH
XFLVND
-HVWHP JHQLDOQD" SRZWyU]\DP SRGF]DV JG\ WHUD] RQ RGVWDZLD PD\
WDQLHFUDGRFL
7DN ,MD WH 2ERMHMHVWHP\ JHQLDOQLER WHUD]ZLHP\ FR-HVW XNU\WHZ
VNU]\QFH
7R]QDF]\MDQLHZLHG]LDDP
0LDQRZLFLH"
&KURQRJUDINU]\NQ/XFDV
&KURQRJUDI"SRZWyU]\DP]DQLPMDNHFKR
7R FDNLHP ORJLF]QH 1LHZDQH Z MDN HSRN ]DEUDOL JR /XF\ L 3DXO
RVWDWHF]QLH Z MDNL VSRVyE FKURQRJUDI WUDIL ] SRZURWHP GR PQLH D MD JR
XNU\HP'ODFLHELH:PRLPGRPX1LH]E\WWRRU\JLQDOQHDOHWDNLHORJLF]QH
7DN XZDDV]" :OHSLDP Z QLHJR QLHSHZQH VSRMU]HQLH 0QLH Z\GDZDR
VLWREDUG]RQDFLJDQHDOHFyORJLNDQLJG\QLHE\DPRMPRFQVWURQ
=DXIDM PL ZQXF]NR MD WR SR SURVWX ZLHP /XFDV ] QDP\VHP
]PDUV]F]\F]RR7RRF]\ZLFLHRWZLHUDFDNRZLFLHQRZHPROLZRFL7HUD]
PXVLP\GREU]HVL]DVWDQRZL6SRMU]DQD]HJDUFLHQQ\3RWU]HEXMHP\
SRSURVWXZLFHMF]DVXQLHFKWRV]ODJ
0RJVLSRVWDUDHE\SU]\QDVWSQHMHODSVML]QyZZ\VDOLPQLHGRURNX
SRZLHG]LDDP $OH MXWUR SR SRXGQLX VL QLH XGD ER PXV] L QD
WHQ EDO L ]REDF]\ VL ] KUDEL 0\O R W\P Z\ZRDD X PQLH QLHSU]\MHPQH
XF]XFLDLWRQLHW\ONR]SRZRGX*LGHRQD
1LHQLHQLH]DSURWHVWRZD/XFDV:DGQ\PZ\SDGNX0XVLP\E\
NURN GR SU]RGX QLP ]QRZX VSRWNDV] VL ] KUDEL 3RWDU F]RR 0\O
P\OP\OP\O
:LG]LV] WHQ G\P NWyU\ Z\FKRG]L PL XV]DPL" 2G JRG]LQ\ QLH UREL QLF
LQQHJR]DSHZQLDPG]LDGNDDOHRQQDMZ\UDQLHMPyZLGRVLHELH
3U]HGHZV]\VWNLPPXVLP\ZF]\WDWZRMNUHZGRFKURQRJUDIX6DPDQLH
SRUDG]LV]VRELH]W\PZURNXWR]E\WVNRPSOLNRZDQH$SRWHPPXV]
FL Z\WXPDF]\ MDN VL JR X\ZD =QyZ SRVSLHV]QLH VSRMU]D QD ]HJDU
-HOL]DG]ZRQLWHUD]GRQDV]HJRGRNWRUDEG]LHWX]DSyJRG]LQ\WR]QDF]\
L GRSLV]H QDP V]F]FLH L ]DSLHP\ JR Z GRPX S\WDQLH W\ONR MDN PX
Z\MDQL GODF]HJR PD SREUD NUHZ PRMHM NX]\QFH +D]HO" 2G /XF\ L 3DXOD
NUHZ ]RVWDD SREUDQD ]XSHQLH RILFMDOQLH GR FHOyZ QDXNRZ\FK DOH W\ MHVWH
WXWDM LQFRJQLWR L WDN PXVL RVWD Z SU]HFLZQ\P UD]LH 3RF]HNDM
SU]HUZDDPPX0RHP\VDPLWR]UREL/XFDVVSRMU]DQDPQLH]LU\WDFM
1R Fy PDP FR SUDZGD JUXQWRZQH Z\NV]WDFHQLH DOH QLH XPLHP
SRVXJLZDVLVWU]\NDZN
0yZLF V]F]HU]H QLH QDMOHSLHM ]QRV] QDZHW ZLGRN NUZL =DZV]H GRVWDM
ZWHG\PGRFL
6DPDPRJVRELHSREUDNUHZSRZLHG]LDDP
1DSUDZG" : RF]DFK /XFDVD ZLGD E\R EH]PLHUQH ]G]LZLHQLH :
WZRLFKF]DVDFKXF]\FLHVLZV]NROHMDNSRVXJLZDVLVWU]\NDZN"
1LHG]LDGNXWHJRQLHXF]\P\VLZV]NROHRGSDUDPQLHFLHUSOLZLH$OH
ZLHPHMDNF]RZLHNVNDOHF]\VLQRHPWRQLHNUHZ0DV]Qy"
/XFDV]DZDKDVL
7DNDOHQLHVG]HE\WRE\GREU\SRP\V
2NHMPDPVZyM2WZRU]\DPV]NROQWRUELZ\MDP8WXLQDRNXODU\
Z NWyU\P /HVOLH VFKRZDD MDSRVNL Qy GR ZDU]\Z QD Z\SDGHN JG\E\P Z
WUDNFLHSRGUy\ZF]DVLH]RVWDD]DDWDNRZDQDLSRWU]HERZDDEURQL']LDGHN
]UREL ZLHONLH RF]\ NLHG\ RWZRU]\DP HWXL =DQLP PQLH ]DS\WDV]
RGSRZLHP QLH WR QLHMHVW VWDQGDUGRZ\HOHPHQW XF]QLRZVNLHJRZ\SRVDHQLD
ZURNXSRZLHG]LDDP/XFDVSU]HNQOLQLZ\SURVWRZDVL
:SRU]GNXU]HN3yMG]LHP\WHUD]GR6PRF]HM6DOLURELFPDHNyNR
SU]H] ODERUDWRULXP GRNWRUD VNG ZHPLHP\ SLSHW =PLHU]\ Z]URNLHP
IROLD\QDVWROHLZHWNQVRELHMHGHQ]QLFKSRGSDFK7RWHZHPLHP\,
FLDVWHF]ND1DPRMHQHUZ\1LH]DSRPQLMVZRMHMWRUE\
$ FR EG]LHP\ UREL Z 6PRF]HM 6DOL" :U]XFLDP HWXL ] SRZURWHP GR
WRUE\LZVWDDP
7DPVWRLFKURQRJUDI/XFDV]DPNQ]DPQGU]ZLLFKZLOQDVXFKLZD
Z NRU\WDU]X 3DQRZDD FLV]D *G\E\P\ NRJR VSRWNDOL SRZLHP\ H
]ZLHG]DP\MDVQHNX]\QNR+D]HO"
6NLQDPJRZ
&KURQRJUDIWDNSRSURVWXWDPVWRL":QDV]\FKF]DVDFKMHVW]DPNQLW\Z
SLZQLF\ZVHMILHGODRFKURQ\SU]HG]RG]LHMDPL
6]DIDWHMHVWRF]\ZLFLH]DPNQLWDQDNOXF]SRZLHG]LD/XFDVLUXV]\
VFKRGDPLZGy$OHNUDG]LH\VLZDFLZLHQLHERLP\:WHMFKZLOLQLHPD
X QDV SRGUyQLNyZ Z F]DVLH NWyU]\ PRJOLE\ JR X\ &LHNDZLH E\R ZWHG\
JG\ SRGF]DV VZ\FK HODSVML RGZLHG]DOL QDV /XF\ L 3DXO DOH RG WDPWHM SRU\
PLQR MX ZLHOH ODW 2EHFQLH FKURQRJUDI QLH ]QDMGXMH VL Z FHQWUXP
]DLQWHUHVRZDQLD
6WUDQLNyZ1DV]F]FLH
%XG\QHNU]HF]\ZLFLHZ\GDZDVLRSXVWRV]D\FKR/XFDV]DSHZQLPQLH
V]HSWHPHQLJG\QLHMHVW]XSHQLHSXVW\7VNQLHZ\MU]DDPSU]H]RNQR%\
U]HNL OHWQL ZLHF]yU -DND V]NRGD H QLH PRJ WDN SR SURVWX VWG Z\M L
WURV]HF]NEOLHMSR]QDURNX/XFDV]DXZD\PRMHVSRMU]HQLH
8ZLHU] PL RGH]ZD VL ]H PLHFKHP MD WH ]QDF]QLH FKWQLHM
Z\SDOLE\P VRELH JG]LH Z VSRNRMX SDSLHURVD $OH PDP\ ]DGDQLH GR
Z\NRQDQLD
= W\P SDOHQLHP SRZLQLHQH GD VRELH VSRNyM G]LDGNX 7R WDNLH
QLH]GURZH,SURV]]JyOWHZV\
=XSHQLHFLQLHSDVXM
3VVVWV]HSQ/XFDV-HOLNWRXV\V]\HQD]\ZDV]PQLHG]LDGNLHP
QLHEG]LHDWZRQDPVLZ\WXPDF]\
$OHQLHQDWNQOLP\VLQDQLNRJRLNLHG\NLONDPLQXWSyQLHMZNURF]\OLP\
GR 6PRF]HM 6DOL ]REDF]\OLP\ ]D RJURGDPL L PXUDPL ZLHF]RUQH VRFH
$QLHSU]HFKRG]LWDPWG\JyZQDWWQLFD"2%RHPDP]XSHQLHPLNNLH
NRODQD-HV]F]HVLZ\NUZDZLV]ZURNXSU]H]OHNNRP\OQRZDVQHJR
G]LDGND
7RJUXEHQDF]\QLHWU]HEDE\MHQDFLZ]GXJG\E\VLF]RZLHNFKFLD
Z\NUZDZL*G]LHRW\PF]\WDDP3RGREQRZLHOXVDPREyMFyZSRSHQLDWHQ
EG L ]RVWDM RGUDWRZDQL DOH QDVWSQ\P UD]HP MX ZLHG] MDN VL WR
SRZLQQRUREL
1DPLRERVN]DZRD/XFDV
0QLH WH WURFK FLVNDR Z RGNX DOH QLH E\R UDG\ 6]F]HJyOQH F]DV\
Z\PDJDMQLHNLHG\V]F]HJyOQ\FKURGNyZMDNSRZLHG]LDDE\/HVOLH
=LJQRURZDDP SU]HUDRQH VSRMU]HQLH /XFDVD L SU]\R\DP RVWU]H GR
ZHZQWU]QHM VWURQ\ SU]HGUDPLHQLD RNRR G]LHVLFLX FHQW\PHWUyZ SRZ\HM
SU]HJXEX UNL 1LH SU]\FLVNDMF ]E\W PRFQR SU]HFLJQDP QRHP QD XNRV
SRVNyU]H&KRFLDWRPLDRE\W\ONRSUyEQHFLFLHRVWU]HZHV]RJELHMQL
VL VSRG]LHZDDP FLHQND F]HUZRQD OLQLD V]\ENR VL UR]V]HU]\D L ]DF]D ]
QLHM NDSD NUHZ %yO L QLHSU]\MHPQH SLHF]HQLH SRF]XDP GRSLHUR VHNXQG
SyQLHM :VNLP DOH FLJ\P VWUXP\F]NLHP NUHZ SRS\QD GR ILOLDQNL
NWyU/XFDVWU]\PDZGUFHMGRQL'RVNRQDOH
:FKRG]L Z VNyU MDN Z PDVR %\DP RV]RRPLRQD 7DN MDN PyZLD
/HVOLHWHQQyMHVWQDSUDZG]DEyMF]RRVWU\
2GyWR]DGD/XFDVNWyU\Z\JOGDMDNE\]DFKZLOPLD]HPGOH
'R VWX SLRUXQyZ QDSUDZG MHVWH EDUG]R RGZDQD SUDZG]LZD 0RQWURVH
HKP=JRGQLH]QDV]\PURG]LQQ\PKDVHP
7DN]GHF\GRZDQLHPDPWRSRWRELH=DFKLFKRWDDP/XFDVXPLHFKQ
VLNU]\ZR
&]\WRZRJyOHQLHEROL"
2F]\ZLFLH H EROL SRZLHG]LDDP L \SQDP Z]URNLHP QD ILOLDQN
:\VWDUF]\"
7DNSRZLQQRE\GRV\/XFDVE\EODG\MDNFLDQD
0DPRWZRU]\RNQR"
-X Z SRU]GNX 3RVWDZL ILOLDQN RERN FKURQRJUDIX L RGHWFKQ
JERNR5HV]WDMHVWSURVWD
&KZ\FL SLSHW 0XV] W\ONR ZOD SR WU]\ NURSOH WZRMHM NUZL Z WH GZD
RWZRU\ ZLG]LV]" 7X SRG PDOHNLP NUXNLHP L SRG V\PEROHP MLQ L MDQJ D
SRWHPSU]HNUFNyNRLSU]HVWDZLWGZLJQL
1RJRWRZH6\V]\V]":HZQWU]XFKURQRJUDIX]DF]RVLREUDFDNLOND
]EDWHNFR]DWU]HV]F]DRVNU]\SQRL]DV]XPLDRDZVDOL]URELRVLMDNE\
FLHSOHM 5XELQ UR]E\VQ QD FKZLO SR F]\P ]EDWNL VL ]DWU]\PD\ L
ZV]\VWNR]QyZE\RWDNMDNSU]HGWHP1LHVDPRZLWHFR"
6NLQDP JRZ SUyEXMF ]LJQRURZD JVL VNyUN NWyUD SRNU\D FDH
PRMHFLDR
7R ]QDF]\ H Z W\P FKURQRJUDILH ]QDMGXMH VL WHUD] NUHZ ZV]\VWNLFK
SRGUyQLNyZ Z F]DVLH ] Z\MWNLHP *LGHRQD WDN" $ FR E\ VL VWDR JG\E\ L
MHJR NUHZ ]RVWDD ZF]\WDQD" =R\DP FKXVWHF]N NWyU GRVWDDP RG
/XFDVDLSU]\FLVQDPMGRUDQ\
3RPLMDMFIDNWHWDNQDSUDZGQLNWWHJRGRNRFDQLHZLHLQIRUPDFMHWH
V WU]\PDQH Z QDMFLOHMV]HM WDMHPQLF\ RGU]HN /XFDV .RORU\ SRZROL
ZUDFD\ PX QD WZDU] .DG\ 6WUDQLN PXVLD SU]\VLF QD NRODQDFK H
QLJG\QLHEG]LHRW\PUR]PDZLD]QLNLPVSR]DOR\1DVZRMH\FLH
2FK
/XFDVZHVWFKQ
$OHZLHV]FR"-DPDPG]LZQVNRQQRGRDPDQLDSU]\VLJ:VND]D
QD QLHZLHON SU]HJUyGN Z FKURQRJUDILH R]GRELRQ GZXQDVWRUDPLHQQ
JZLD]GN:LDGRPRH]DPNQLHWRSHZLHQSURFHVZHZQWU]XFKURQRJUDIXL
FRZ\OGXMHZWHMSU]HJUyGFH:SU]HSRZLHGQLDFKMHVWPRZDRHVHQFMLVSRG
GZXQDVWRJZLD]G\ D WDNH R NDPLHQLX ILOR]RILF]Q\P :R F]DVX Z\SHQL
SRZLHWU]HMHGHQ]QLFKW\ONRRWU]\PD\FLHZLHF]QH
B , WR FDD WDMHPQLFD" VS\WDDP UR]F]DURZDQD =QRZX W\ONR PJOLVWH
]DJPDWZDQHWHNVW\
B 1R Fy MHOL ]JURPDG]LP\ ZV]\VWNLH ZVND]yZNL EG]LH WR ZDFLZLH
Z\JOGDR FDNLHP NRQNUHWQLH =DUD]\ XOHF]\ L ZV]HONLH FLHUSLHQLH
GZXQDVWRJZLD]GDVSHQLSU]\U]HF]HQLH
6XEVWDQFMD WD RGSRZLHGQLR X\WD PRH SRQR XOHF]\ ZV]HONLH FKRURE\
OXG]NRFL
7RMXEU]PLDROHSLHM
B :WHG\ E\ VL WHQ FD\ Z\VLHN RSDFL PUXNQDP P\OF R REVHVML
6WUDQLNyZ E\ XWU]\P\ZD ZV]\VWNR Z WDMHPQLF\ R LFK VNRPSOLNRZDQ\FK
]DVDGDFKLU\WXDDFK
: W\FK RNROLF]QRFLDFK PRQD E\R QDZHW ]UR]XPLH LFK ZDQLDFWZR 1D
WDNL FXGRZQ\ OHN RSDFDRE\ VL F]HND FKRE\ NLONDVHW ODW $ KUDELHPX GH
6DLQW *HUPDLQ ]D WR H GRV]HG GR WHJR L VSUDZL H Z RJyOH VWDWR VL WR
PROLZH EH] ZWSLHQLD QDOHD VL V]DFXQHN *G\E\ W\ONR QLH E\ WDNL
DQW\SDW\F]Q\
/XF\ L 3DXO PDM ZWSOLZRFL F]\ WR QD SHZQR FKRG]L R NDPLH
ILOR]RILF]Q\ SRZLHG]LD /XFDV MDNE\ RGJDGXMF PRMH P\OL 8ZDDM H
NWR NWR QLH ZDKD VL ]DPRUGRZD ZDVQHJR SUDSUDSUDG]LDGND UDF]HM QLH
EG]LHGEDRGREURFDHMOXG]NRFL2GFKU]NQ3U]HVWDRNUZDZL"
B -HV]F]H QLH DOH NUZDZL FRUD] PQLHM 3RGQLRVDP UN HE\
SU]\VSLHV]\ WHQ SURFHV , FR WHUD] ]URELP\" &]\ PDP SR SURVWX
Z\SUyERZDWHQVSU]W"
B :LHONLH QLHED SU]HFLH WR QLH MHVW VDPRFKyG NWyU\ VL ELHU]H QD MD]G
SUyEQ/XFDVD]DDPDUFH
B'ODF]HJRQLH"VS\WDDP&]\QLHRWRZDQLHFKRG]LR"
B 1R WDN \SQ QD JUXE\ IROLD NWyU\ ]H VRE SU]\QLyV :DFLZLH
PDV] UDFM 3U]\QDMPQLHM EG]LHP\ PRJOL VL XSHZQL PLPR H QLH PDP\
]E\W GXR F]DVX 1DJOH RJDUQ JR RJURPQ\ ]DSD 3RFK\OL VL L RWZRU]\
.URQLNL 0XVLP\ XZDD HE\ QLH Z\EUD GQLD NLHG\ Z\OGRZDDE\ Z
VDP\P URGNX SRVLHG]HQLD $OER HE\ QLH VSRWNDD MHGQHJR ] EUDFL GH 9LO
OLHUV:WHMVDOLSRGGDZDOLVLHODSVMLZLHOHUD]\=QRZXRZLHFLDPQLHSHZQD
P\O
&]\ PRJDE\P VL VSRWND ] ODG\7LOQH\" 6DP QD VDP" 1DMOHSLHM JG]LH
SRURNX
1LH ZLHP F]\ WR PGUH /XFDV ZHUWRZD IROLD 1LH FKFHP\ MHV]F]H
EDUG]LHMNRPSOLNRZDVSUDZNWyUHVMXZ\VWDUF]DMFR]DJPDWZDQH
$OH QLH ZROQR QDP WH PDUQRZD W\FK QLHZLHOX V]DQV MDNLH PDP\
NU]\NQDP P\OF R W\P QD FR XF]XOLD PQLH /HVOLH 0DPZ\NRU]\VW\ZD
NDG RND]M D SU]HGH ZV]\VWNLP UREL MHGQR ]DGDZD S\WDQLD ZV]\VWNLH
MDNLHSU]\MGPLGRJRZ\.WRZLHNLHG\WUDILVLQDVWSQDVSRVREQR:
VNU]\QFH PRH WH E\ FR LQQHJR L ZWHG\ PRJ Z RJyOH QLH PLH MX WDNLHM
V]DQV\
.LHG\VSRWNDOLP\VLSLHUZV]\UD]"
'ZXQDVWHJR VLHUSQLD URNX R GZXQDVWHM Z SRXGQLH RGU]HN
/XFDV]DWRSLRQ\ZOHNWXU]H.URQLN1LJG\WHJRQLH]DSRPQ
1R ZDQLH L HE\ QD SHZQR QLH ]DSRPQLD QDMOHSLHM FL WR ]DSLV]
SRZLHG]LDDP]DFKZ\FRQDZDVQJHQLDOQRFL
:PRLPNRRQRWDWQLNXQDVNUREDDP
'RORUGD/XFDVD0RQWURVDZDQH
VLHUSQLD URNX JRG]LQD 3UDFRZQLD DOFKHPLF]QD 3URV]
SU]\MGVDP
*ZHQGRO\Q6KHSKHUG
-HGQ\P UXFKHP Z\UZDDP NDUWN L ]R\DP M QD Sy ']LDGHN SRGQLyV
QDFKZLOJRZ]QDGIROLDX
0yJE\P FL Z\VD GR URNX OXWHJR R SyQRF\ /DG\ 7LOQH\
SRGGDMH VL WDP HODSVML L WR ] JUXGQLD URNX G]LHZLWD UDQR
PUXNQ%LHGDF]NDQDZHW%RHJR1DURG]HQLDQLHPRHVSRNRMQLHVSG]L
ZGRPX:NDG\PUD]LHGDOLMHMODPSQDIWRZ3RVXFKDMFRWXQDSLVDQR
ODG\ 7LOQH\ Z GREU\P KXPRU]H SRZUDFD ] URNX Z ZLHWOH
ODPS\ QDIWRZHM Z\V]\GHNRZDD GZLH ZLQNL QD WDUJ GREURF]\QQ\ Z ZLWR
7U]HFK .UyOL NWyU\ Z W\P URNX RGE\ZD VL SRG KDVHP ZLHMVNLHJR \FLD
6SRMU]D QD PQLH :\V]\GHNRZDD ZLQNL" &]\ WR PROLZH" ,VWQLHMH
QLHEH]SLHF]HVWZR H SU]H\MH VWUDV]Q\ V]RN MHOL VL QDJOH Z\QXU]\V] ]
QLFRFL
1DSUDZGFKFHP\WDNU\]\NRZD"
-HVW SU]HFLH X]EURMRQD W\ONR Z V]\GHNR D R LOH GREU]H SDPLWDP
V]\GHND V RG JyU\ ]DRNUJORQH 3RFK\OLDP VL QDG FKURQRJUDIHP $
ZLFQDMSLHUZURNF]\OLPXV]]DF]RG0SUDZGD"0'&&&/,,$OXW\
ZHGXJNDOHQGDU]DFHOW\FNLHJRWRQXPHUWU]\QLHF]WHU\
&R W\ Z\SUDZLDV]" 1DMSLHUZ PXVLP\ RSDWU]\ WZRM UDQ L VSRNRMQLH
MHV]F]HUD]VLQDGW\PZV]\VWNLP]DVWDQRZL
1LH PDP\ QD WR F]DVX RGSDUDP ']LH WR MHVW WD GZLJQLD WXWDM
SUDZGD"
/XFDVERMDOLZLHVSRMU]DPLSU]H]UDPL
1LH WDN V]\ENR :V]\VWNR PXVL VL ]JDG]D FR GR PLOLPHWUD Z
SU]HFLZQ\PUD]LHZSU]HFLZQ\PUD]LH=QRZXZ\JOGDWDNMDNE\PLD
]DFKZLO]Z\PLRWRZD,QLJG\QLHWU]\PDMWDNFKURQRJUDIXER]DELHU]HV]
JR]HVREZSU]HV]R$ZWHG\QLHPRJDE\MXZUyFL
7DNMDN/XF\L3DXOZ\V]HSWDDP
1D ZV]HONL Z\SDGHN Z\ELHU]HP\ SU]HG]LD F]DVRZ\ ]DOHGZLH WU]HFK
PLQXW :H L QD SHZQR VLHG]L WDP L VSRNRMQLH V]\GHNXMH WH
VZRMHZLQNL-HOLEG]LHVSDDWRMHMQLHEXGERGRVWDQLH]DZDXVHUFD
$OH F]\ WR QLH E\RE\ ]DSLVDQH Z .URQLNDFK SU]HUZDDP PX /DG\
7LOQH\]URELDQDPQLHZUDHQLHEDUG]RVLOQHMLRSDQRZDQHMQDSHZQRQLFMHM
VLQLHVWDQLH
/XFDVSU]HQLyVFKURQRJUDISRGRNQRLSRVWDZLJR]D]DVRQ
0RHP\ E\ SHZQL H WX QLH VWRM DGQH PHEOH 7DN WDN QLH PXVLV]
SU]HZUDFD RF]DPL 7LPRWK\ GH 9LOOLHUV UD] WDN QLHV]F]OLZLH Z\OGRZD QD
VWROHH]DPDVRELHQRJ
$ MHOL ODG\ 7LOQH\ EG]LH VWDD GRNDGQLH Z W\P PLHMVFX L UR]PDU]RQD
ZSDWU\ZDDVLZQRF"
2FKWHUD]W\QLHSDWU]WDNQDPQLHG]LDGNXWRE\W\ONRDUW
3RSFKQDP JR GHOLNDWQLH QD ERN XNONDP QD SRGRG]H SU]HG
FKURQRJUDIHP L RWZRU]\DP NODSN WX SRG UXELQHP %\D DNXUDW WDND H
]PLHFLVLZQLHMPyMSDOHF
3RF]HNDMMHV]F]H7ZRMDUDQD
0RHP\ M UyZQLH GREU]H RSDWU]\ ]D WU]\ PLQXW\ =D FKZLO ]QRZX VL
]REDF]\P\RGU]HNDPSRF]\PZ]LDPJERNLZGHFKLPRFQRQDFLVQDP
QDLJRSXV]NSDOFD
3RF]XDP GREU]H ]QDQH PGRFL L NLHG\ UR]MDU]\R VL F]HUZRQH ZLDWR D
/XFDV SRZLHG]LD $OHMD FKFLDHP MHV]F]H ZV]\VWNR UR]P\R PL VL SU]HG
RF]DPL
.URQLNL6WUDQLNyZ
JUXGQLDURNX
:F]DVLHJG\ DUPLDMDNRELQyZSRGREQRVWRLMXXEUDP'HUE\ LNLHUXMHVL
Z VWURQ /RQG\QX SU]HQLHOLP\ VL GR QRZHM NZDWHU\ JyZQHM L PDP\
QDG]LHM H PHOGXQNL QD WHPDW IUDQFXVNLFK RQLHU]\ NWyU]\ SU]\F]\OL VL
GRPRGHJRNDQG\GDWDGRWURQXOLF]QHJR.VLFLD.DURONDVLQLHSRWZLHUG]
LHEG]LHP\PRJOLZVSRNRMXZLWRZDZPLHFLH%RH1DURG]HQLH
7UXGQR VRELH Z\REUD]L SRPLHV]F]HQLD GOD QDV 6WUDQLNyZ EDUG]LHM
RGSRZLHGQLHQLWHV]DFRZQHGRP\Z7HPSLHERSU]HFLHWHPSODULXV]HWDNH
E\OL VWUDQLNDPL ZLHONLFK WDMHPQLF 3RWQ\ NRFLy 7HPSLH ]QDMGXMH VL Z
]DVLJX Z]URNX D MHJR NDWDNXPE\ V SRF]RQH ] QDV]\PL 2ILFMDOQLH
EG]LHP\ VWG NLHURZD LQWHUHVDPL DOH EG WX PRJOL WH ]DPLHV]NLZD
DGHSFL QRZLFMXV]H L JRFLH ] ]HZQWU] RUD] RF]\ZLFLH VXED 3R]D W\P
VWZRU]\P\ NLOND ODERUDWRULyZ GR FHOyZ DOFKHPLF]Q\FK &LHV]\P\ VL H ORUG
$ODVWDLU VZ\PL RV]F]HUVWZDPL QLH ]GRD ]DNyFL GREU\FK VWRVXQNyZ
KUDELHJR ] NVLFLHP :DOLL ]RE UDSRUW ] JUXGQLD L H G]LNL SURWHNFML -HJR
:\VRNRFL PRJOLP\ QDE\ WHQ ]HVSy EXG\QNyZ ']L Z 6PRF]HM 6DOL
RGEG]LH VL XURF]\VWH SU]HND]DQLH WDMQ\FK DNW KUDELHJR F]RQNRP .UJX
:HZQWU]QHJR
5DSRUWVLULYHU1HZWRQ.UJ:HZQWU]Q\
5R]G]LD
3RWU]HERZDDP NLONX VHNXQG HE\ SU]\]Z\F]DL VL GR LQQHJR ZLDWD
3RPLHV]F]HQLH UR]MDQLDD W\ONR ODPSD QDIWRZD VWRMFD QD VWROH : MHM
FLHS\P QLN\P EODVNX GRMU]DDP SU]\MD]Q PDUWZ QDWXU NRV]\N NLOND
NENyZUyRZHMZHQ\G]EDQHNZILOFRZ\PSRNURZFXLILOLDQNZUy\F]NL
/DG\7LOQH\VLHG]LDDQDNU]HOHV]\GHNXMFDQDPyMZLGRNRSXFLDUFH
QDSRGRHN%\DZ\UDQLHVWDUV]DQLSRGF]DVQDV]HJRRVWDWQLHJRVSRWNDQLD
UXGH ZRV\ ] SDVPDPL VLZL]Q\ PLDD VSLWH Z VNURPQ IU\]XU ] WUZD
RQGXODFM 0LPR WR ]GRDD ]DFKRZD RZ PDMHVWDW\F]Q QLHSU]\VWSQ
SRVWDZ MDND Z\UyQLDD WDNH PRM EDEN , QDZHW QLH NU]\NQD JG\ VL
SRMDZLDP QLH PyZLF MX R UXV]DQLX QD PQLH ] Z\VWDZLRQ\P ERMRZR
V]\GHNLHP
:HVR\FKZLWSRZLHG]LDD
:HVR\FK ZLW ]UHZDQRZDDP VL QLHFR RV]RRPLRQD 3U]H] FKZLO
QLHZLHG]LDDPFRURELDOH]DUD]Z]LDPVLZJDU3URV]VLQLHED
QLHFKFRGSDQLNUZLDQLQLFWDNLHJR:\V]DP]FLHQLD]DVRQ\
6SUDZD ] NUZL MHVW MX GDZQR ]DDWZLRQD *ZHQGRO\Q U]HND ODG\
7LOQH\ ] OHNN SU]\JDQ MDNE\P SRZLQQD WR ZLHG]LH 1DZLDVHP PyZLF
]DVWDQDZLDDPVLNLHG\SU]\MG]LHV]8VLGWXWDM+HUEDW\"
1LHG]LNXM1LHVWHW\PDPW\ONRNLONDPLQXW3RGHV]DPMHV]F]HNURN
EOLHM L SRGDDP MHM NDUWN 7R PXVL WUDIL GR PRMHJR G]LDGND HE\ QR
HE\ZV]\VWNRVWDRVLWDNMDNVLVWDR7REDUG]RZDQH
5R]XPLHP
/DG\ 7LOQH\ Z]LD NDUWN L QDMVSRNRMQLHM Z ZLHFLH M UR]R\D 1LH
Z\GDZDDVLDQLWURFK]GHQHUZRZDQD
'ODF]HJRSDQLQDPQLHF]HNDD"VS\WDDP
%R VDPD PL SRZLHG]LDD HE\P VL F]DVHP QLHZ\VWUDV]\DMHOL PQLH
RGZLHG]LV]1LHVWHW\QLH]GUDG]LDPLNLHG\WREG]LHLGODWHJRF]HNDPMX
RGZLHOXODWHE\PQLHMHGQDNZNRFXZ\VWUDV]\D=DPLDDVLFLFKR
$OH G]LHUJDQLH ZLQHN V]\GHNLHP G]LDD QLH]Z\NOH XVSRNDMDMFR 6]F]HU]H
PyZLFPRQDXVQ]QXGyZ
0LDDPMXQDNRFXM]\NDXSU]HMPH7RSU]HFLHQDV]F]\WQHFHOHOHF]
NLHG\ U]XFLDP RNLHP GR NRV]\ND Z\UZDR PL VL 2FK MDNLH VRGNLH ,
QDSUDZG WDNLH E\\ =QDF]QLH ZLNV]H QL VRELH Z\REUDDDP MDN
SUDZG]LZHSOXV]DNLLEDUG]RSRGREQHGR\Z\FKZLQHN
:HVRELHMHGQSRZLHG]LDDODG\7LOQH\
1DSUDZG"=P\OR&DUROLQHVLJQDPGRNRV]\ND=ZLHU]WNDE\\
EDUG]RPLNNLHZGRW\NX
:HQD ] Ny] DQJRUVNLFK L NDV]PLUVNLFK Z\MDQLD ODG\7LOQH\ ] SHZQ
GXP Z JRVLH 7\ONR MD MHM X\ZDP ,QQL ELRU RZF] DOH MHVW V]RUVWND L
GUDSLH
2 WDN ']LNXM 3U]\FLVQZV]\ UyRZ ZLQN GR SLHUVL
SRWU]HERZDDP
FKZLOL
DE\
VL
SR]ELHUD
1D
F]\P
VWDQ\P\"
$ Fy WR MHVW QD PLR ERVN" Z\NU]\NQ /XFDV JG\ MHJR RF]RP
XND]DVLSURVLDN
1RZDQLH]DPLDVWZ\NRU]\VWDNDGVHNXQGHE\Z\GRE\LQIRUPDFMH
RG ODG\ 7LOQH\ WR MDN JXSLD U]XFLDP VL QD UyRZHJR ]ZLHU]DND ZLQND
]URELRQD V]\GHNLHP G]LDGNX SU]HFLH ZLG]LV] Z\MDQLDP PDWRZ\P
JRVHPUR]F]DURZDQDVDPVRE$QJRUDLNDV]PLU,QQLX\ZDMV]RUVWNLHM
RZF]HMZHQ\
: NDG\P UD]LH QDV] WHVW QDMZ\UDQLHM VL SRZLyG SRGVXPRZD ]
]DGRZROHQLHP/XFDV
8PLHV]REVX\FKURQRJUDILPRHP\VLXPyZL8PQLHZGRPX
7RE\RRZLHOH]DNUyWNR:HVWFKQDPDRQLH1LF]HJRQLHPRJDP
VLGRZLHG]LH
1R DOH Z NDG\P UD]LH W\ HHH GRVWDD ZLQN D ODG\ 7LOQH\ QLH
GRVWDD]DZDXVHUFD$PRHMHGQDN"
3RNUFLDPJRZ
2F]\ZLFLHHQLH
/XFDVRZLQFKURQRJUDIZDNVDPLWQWNDQLQLRGQLyVJRGRV]DI\
, SRFLHV] VL G]LNL WHPX PDP\ Z\VWDUF]DMFR GXR F]DVX HE\
SU]HV]PXJORZD FL ] SRZURWHP GR SLZQLF\ L GDOHM VQX SODQ\ F]HNDMF QD
WZyM SRZURWQ\ SU]HVNRN Z F]DVLH 1LH PDP SRMFLD MDN W\P UD]HP VL
Z\JDP\MHOL&DUWUHOOWHQRFKODSXVMXVLZ\VSDSRVZRLPSLMDVWZLH
/GXMF]QRZXZSRPLHV]F]HQLX]FKURQRJUDIHPZPRLFKF]DVDFKE\DP
ZUF] Z HXIRULL 1R GREUD ]GRE\FLH ZLQNL ZFLVQDP M GR V]NROQHM WRUE\
WR PRH QLH MDNLH QDG]Z\F]DMQH RVLJQLFLH DOH ZV]\VWNR LQQH
]DDUDQRZDOLP\ ] /XFDVHP FDNLHP VSU\WQLH -HOL Z VNU]\QL QDSUDZG
]QDMGRZDVLFKURQRJUDIQLHEG]LHP\MXPXVLHOL]GDZDVLQDSU]\SDGHN
-DNLH V]F]HJyOQH Z\GDU]HQLD" VS\WD SDQ 0DUOH\ 1LHFK VL
]DVWDQRZL SU]H] FDH SRSRXGQLH VQXDP ] PRLP G]LDGNLHP NRQVSLUDF\MQH
SODQ\ ]DPDOLP\ ]DND] L ZF]\WDOLP\ PRM NUHZ GR FKURQRJUDIX D SRWHP
Z\VDOLP\ PQLH GR URNX JG]LH RGE\DP NRQVSLUDF\MQH VSRWNDQLH ]
ODG\7LOQH\1RGREUDQDSHZQRQLHE\RNRQVSLUDF\MQHDOH]DWR]DEURQLRQH
7URFKPUXJDDDUyZNDSRZLHG]LDDP,QDXF]\DPVLIUDQFXVNLFK
VyZHN
DXMDOHRGHPQLHQLFZLFHMVLSDQLQLHGRZLH
&LNLHGU]ZL]DWU]DVQ\VL]DQDPL3DQ0DUOH\SXFLPRMUNHE\MH
]DPNQ QD NOXF] QD FR Z PRLP RGF]XFLX SRWU]HERZD G]LHVLFLX PLQXW
3UyERZDDP QDGUREL WURFK F]DVX UXV]DMF SRWHP UDQ\P NURNLHP 7R
]UHV]WRND]DRVL QLHDWZH]]DZL]DQ\PLRF]DPL3DQ0DUOH\]QRZXZ]L
PQLH]DUNFRWHE\RGREUHEREH]SU]HZRGQLNDZW\PODELU\QFLHSUGNR
ZOD]DE\PQDFLDQ3RVWDQRZLDPMHV]F]HVLGRQLHJRSRSU]\PLODFRQLH
PRJR]DV]NRG]L0RHSyQLHMEG]LHJRWyZSU]HND]DPLQLHFRLQIRUPDFML
$ZLHSDQHRVRELFLHSR]QDDPSDQDSUDSU]RGND"
FLOH ELRUF QDZHW ]URELDP PX ]GMFLH W\OH H QLH PRJDP SRND]D JR
SDQX 0DUOH\RZL ER ]DUD] E\ QD PQLH QDVNDU\ H Z]LDP ]H VRE Z
SU]HV]R]DND]DQ\SU]HGPLRW
1DSUDZG" =D]GURV]F] SDQL 3RGREQR EDURQ E\ QLHSU]HFLWQ\P
F]RZLHNLHP
2WDNEDUG]RQLHSU]HFLWQ\P:U]HF]\VDPHM8SLRUQ\VWDU\SXQ
3\WDPQLHR
7UDQV\OZDQLDOHQLHVWHW\QLHPRJDPPXXG]LHOL]E\WZLHOXLQIRUPDFML
7DNWRPXVLDRE\GODQLHJRWUXGQH\QDZ\JQDQLXSRZLHG]LDSDQ
0DUOH\L]DUD]SRWHPJRQRMNQ2MHM
6]F]XUSRP\ODDPLZSDQLFH]HUZDDPRSDVN]RF]X
$OH WR QLH V]F]XU Z\ZRD RNU]\N SDQD 0DUOH\D 7R E\ *LGHRQ = WURFK
ZLNV]\P ]DURVWHP QL G]L SR SRXGQLX DOH ] QLH]Z\NOH E\V]F]F\PL
RF]DPL,WDNQLHZLDU\JRGQLHEH]ZVW\GQLHQLHZ\REUDDOQLHSU]\VWRMQ\
7RW\ONRMD8PLHFKQVL
:LG]U]XFLSRQXURSDQ0DUOH\3LHNLHOQLHPQLHSDQZ\VWUDV]\
$ FR GRSLHUR PQLH 'ROQD ZDUJD ]QRZX ]DF]D PL GUH ZLF V]\ENR
]DWRSLDPZQLHMVLHNDF]HGODXVSRNRMHQLD'XUQDZDUJD
0D SDQ MX ZROQH ]DSURZDG] *ZHQGRO\Q GR VDPRFKRGX SRZLHG]LD
*LGHRQLMDNE\QLJG\QLFZ\FLJQGRPQLHUN
3U]\MDP PROLZLH QDMEDUG]LHM Z\QLRV PLQ QD LOH PRQD WR ]UREL ]
SU]HGQLPL ]EDPL ZELW\PL Z GROQ ZDUJ PXVLDDP SHZQLH Z\JOGD MDN
EyEUZNDG\PUD]LHZ\QLRV\EyEUL]LJQRURZDDPMHJRJHVW
*ZHQ
-X GREU]H QLH PXVLV] PL ]QRZX PyZL H QDSUDZG PQLH OXELV] -D
WHFLOXELDPZLHV]"
1DZHWEDUG]RFLOXELDPDOHWRMXSU]HV]R
3RELHJDPZJyUSRNUFRQ\FKVFKRGDFKQDMV]\EFLHMMDNW\ONRSRWUDILDP
= WDNLP VNXWNLHP H JG\ GRWDUDP QD JyU E\DP ]XSHQLH EH] WFKX
1DMFKWQLHM]ZLHVLDE\PVL]G\V]DQDSU]H]SRUF]
1LH FKFLDDP MHGQDN RND]D VDERFL 7\P EDUG]LHM H *LGHRQ ZFDOH QLH
Z\JOGDQD]PF]RQHJR
$ ZLF JQDDP GDOHM GR SU]RGX D ]DSD PQLH ]D SU]HJXE UNL L ]PXVL
E\PVL]DWU]\PDD
:]GU\JQDP VL ER MHJR SDOFH SRGUDQL\ PRM UDQ =QRZX ]DF]D
NUZDZL
:SRU]GNXQLHQDZLG]LV]PQLHQDSUDZGWRQLHMHVWGODPQLHSUREOHP
U]HN *LGHRQ SDWU]F PL ] SRZDJ Z RF]\ $OH GRZLHG]LDHP VL U]HF]\
NWyUHZ\PDJDME\P\]HVREZVSyG]LDDOLW\LMDHE\HE\P\Z\V]OL
]FDHMWHMVSUDZ\\ZL
3UyERZDDPVLRVZRERG]LDOHMHJRXFLVNVWDZDVLFRUD]PRFQLHMV]\
-DNLFKU]HF]\"VS\WDDPFKRQDMFKWQLHMZU]DVQDE\PDXX
7DN GRNDGQLH MHV]F]H QLH ZLHP DOH PROLZH H P\OLHP VL FR GR
LQWHQFML/XF\L3DXOD,GODWHJRZDQHMHVWHE\W\3U]HUZDSXFLPQLHL
VSRMU]DQDZQWU]HVZRMHMGRQL&]\WRNUHZ"
&KROHUD7HUD]W\ONRQLHPRJZ\JOGDWDNMDNE\PQLH]DSDQDJRUF\P
XF]\QNX
7R QLF WDNLHJR ']LVLDM UDQR Z V]NROH ]DFLDP VL NDUWN SDSLHUX $OH
ZUyP\GRWHPDWX GRSyNLQLHEG]LHV] SRWUDILVNRQNUHW\]RZDRUDQ\DOH
E\DPGXPQD]WHJRHWRVRZRSU]\V]RPLGRJRZ\W\FKU]HF]\NWyU\FK
VLU]HNRPRGRZLHG]LDHMD]FDSHZQRFLQLHEG]WREZVSyG]LDD
*LGHRQ]QRZXSUyERZDFKZ\FLPQLH]DUN
=GDMHVLHWRSRZDQDUDQD3RNDPLSRZLQQLP\SyMGRGRNWRUD
:KLWH
D0RHMHV]F]HWXMHVW
7R SHZQLH PD ]QDF]\ H QLH FKFHV] GRNDGQLHM Z\MDQL F]HJR VL
U]HNRPR GRZLHG]LDH :\SURVWRZDDP UN RGVXZDMF VL RG QLHJR HE\
QLHPyJ]EDGDPRMHMUDQ\
6DP MHV]F]H QLH MHVWHP SHZLHQ MDN WRZV]\VWNR SRXNDGD SRZLHG]LD
*LGHRQ 3RWU]HEXM SR SURVWX F]DVX GRU]XFL WDN VDPR MDN ZF]HQLHM
G]LDGHN/XFDVOHNNR]GHVSHURZDQ\PWRQHP
$ NWy JR QLH SRWU]HEXMH" =QRZX UXV]\DP GR SU]RGX 'RWDUOLP\ GR
GU]ZL SUDFRZQL PDGDPL 5RVVLQL VNG E\R MX QLHGDOHNR GR Z\MFLD 'R
ZLG]HQLD*LGHRQLH=REDF]\P\VLMXWURQLHVWHW\
: JEL GXV]\ F]HNDDP DOH RQ PQLH QLH ]DWU]\P\ZD , FKR RGGDDE\P
ZV]\VWNRHE\]REDF]\MHJRPLQQLHRGZUyFLDPVLE\QDQLHJRVSRMU]H
%\RE\]UHV]WJXSLRERSRWZDU]\]QRZXS\Q\PL]\
1LFNF]HNDQDPQLHZGU]ZLDFK
1DUHV]FLH SRZLHG]LD &KFLDHP ]DF]\QD EH] FLHELH DOH SDQ
%HUQKDUG SRZLHG]LD H PDP\ QD FLHELH ]DF]HND =HSVX VSXF]N Z
QLHELHVNLHM WRDOHFLH L WZLHUG]L H PXVL RGEL WDP NDIOH HE\ M QDSUDZL
7DMQHGU]ZL]DU\JORZDOLP\RGZHZQWU]6SU\WQLHFR"
%DUG]RFK\WU]H
$OH ]D JRG]LQ ZUyFL ODG\ $ULVWD L FLRWND *OHQGD L QD SHZQR SRZLHG]
HE\SU]HR\QDSUDZQDMXWUR
1R WR PXVLP\ VL SRVSLHV]\ 3U]\FLJQDP JR V]\ENR GR VLHELH L
Z\FLVQDP FDXVD QD VSOWDQ\FK UXG\FK ZRVDFK &]DVX PXVLDR QDP
Z\VWDUF]\1LNRPXRW\PQLHPyZLH"
1LFNSRSDWU]\QDPQLH]SHZQ\PSRF]XFLHPZLQ\
7\ONR&DUROLQH2QDRFKZLHV]SU]HFLHHRQD]DZV]HF]XMHNLHG\FR
ZLVLZSRZLHWU]XLSRWUDILZ\ZLHUFLG]LXUZEU]XFKX$OHEG]LHPLOF]DDL
SRPRHQDPRGZUyFLXZDJPDP\FLRFL0DGG\L&KDUORWW\
3U]HGHZV]\VWNLP&KDUORWW\SRZLHG]LDDPEDUG]LHMGRVLHELH
2QL ZV]\VF\ V MHV]F]H QD JyU]H Z MDGDOQL PDPD ]DSURVLD /HVOLH QD
NRODFM
:MDGDOQL]DF]WRZDQLHZVWDZDRGVWRX7R]QDF]\RHFLRFLD0DGG\
SU]HQRVLD VL QD VZyM IRWHO SU]HG NRPLQNLHP L NDGDZ\HMQRJL QDWRPLDVW
PDPDLSDQ%HUQKDUGVSU]WDOL]HVWRX
:V]\VF\XFLHV]\OLVLQDPyMZLGRNWR]QDF]\ZV]\VF\SUyF]&KDUORWW\1R
FyPRHSRSURVWXXPLDDZLHWQLHXNU\ZDUDGR
;HPHULXV]ZLVD]\UDQGROD
1RQDUHV]FLHMHVWHNU]\NQ-XFKFLDHPXPU]H]QXGyZ
&KRMHG]HQLHSDFKQLDRVPDNRZLFLHDPDPDSRZLHG]LDDH]RVWDZLDPL
FR QD FLHSR R]QDMPLDP ERKDWHUVNR H QLH MHVWHP JRGQD ER ]MDGDP
NRODFMZ7HPSLH3U]\W\PJDUVWZLHRGHNFLVQPLVL]REXU]HQLDDOH
QLHPRJDPPDUQRZDFHQQHJRF]DVXQDMHJR]DFKFLDQNL
/HVOLHZ\V]F]HU]\DGRPQLH]E\ZXPLHFKX
&XUU\E\RSU]HS\V]QH1LHPRJDPSU]HVWDMH7\PEDUG]LHMHPRMD
PDPD]QDMGXMHVLZDQLHZID]LHVWUDV]OLZ\FKHNVSHU\PHQWyZ7HJRFDHJR
PDNURELRW\F]QHJRDUFLDNWyUHJRWXMHQLHFKFHWNQQDZHWQDV]SLHV
0LPRWRZ\GDMHV]VLFDNLHPHKHPQD]ZLMP\WRGREU]HRG\ZLRQD
U]XFLD]ROLZLH
&KDUORWWD
= MHM ]DSOHFLRQ\FK ZRVyZ Z\SDGR NLOND NRVP\NyZ QLH]Z\NOH NRU]\VWQLH
RNDODMF MHM WZDU] 7R QLHSRMWH MDN PRQD WDN SLNQLH Z\JOGD L E\ SU]\
W\PWDNQLNF]HPQ
$OH PDV] GREU]H 7H FKFLDDE\P PLH SVD SRZLHG]LDD &DUROLQH GR
/HVOLH$OERMDNLHLQQHGRPRZH]ZLHU]
$FK PDP\ 1LFNDZWUFLD &KDUORWWD 7R SUDZLH WDNMDNE\P\ PLHOL
PDS
1LH]DSRPQLMRMDGRZLWHMPLLF]\OLRVRELHV\NQ1LFN
6]DFXQ FKRSLH ]DVNU]HF]D ;HPHULXV ] \UDQGROD L ]DNODVND Z
V]SRQLDVWHDS\1LH]DULSRVWD
0DPDSRPRJDSDQX%HUQKDUGRZLXVWDZLQDF]\QLDZNXFKHQQHMZLQG]LH
:LHV]GREU]HHWRQLHPROLZH&DUROLQHERFLRFLD*OHQGDPDDOHUJLQD
VLHU
0RJOLE\P\VRELHVSUDZLJROFDSRZLHG]LDD&DUROLQH
&KDUORWWDRWZRU]\DXVWDDOH]SRZURWHPMH]DPNQDERQDMZ\UDQLHMQLH
SU]\V]RMHMGRJRZ\QLF]ROLZHJRQDWHPDWJROFyZ
&LRFLD 0DGG\ XPRFLD VL Z IRWHOX L VHQQ\P UXFKHP ZVND]DD QD VZyM
RNUJ\UyRZ\SROLF]HN
*ZHQGRO\QSRFDXMVZRMFLRWHF]QEDEN7RVWUDV]QHHZLGXMHP\FL
WHUD]WDNU]DGNR']LZQRF\]QRZXPLVLQLDLSRZLDGDPFLWRQLHE\
SLNQ\VHQ
0RHV]PLWRRSRZLHG]LHSyQLHM"8FDRZDDPM,F]\PRJDE\PL
SRPyFWU]\PD
&KDUORWWH]GDODRGQLHELHVNLHMD]LHQNL"V]HSQDPMHMSU]\W\PGRXFKD
'RHF]NL FLRFL 0DGG\ SRJEL\ VL L SXFLD GR PQLH RNR :FDOH QLH
Z\JOGDDMXQDVHQQ
0DPD NWyUD E\D XPyZLRQD ] SU]\MDFLyN PLDD G]L R ZLHOH OHSV]\
KXPRU QL Z RVWDWQLFK GQLDFK 1LH U]XFDD PL ]DWURVNDQ\FK VSRMU]H QLH
V\V]DDP WH DGQ\FK ZHVWFKQLH NLHG\ QD PQLH SDWU]\D 'DURZDD VRELH
QDZHWVZRMH]Z\NHZ\NDG\QDWHPDWQLHEH]SLHF]HVWZ]ZL]DQ\FK]QRFQ
MD]G DXWREXVHP &R ZLFHM 1LFN PyJ DV\VWRZD SDQX %HUQKDUGRZL SU]\
QDSUDZLHU]HNRPR]HSVXWHMVSXF]NLQLH]DOHQLHMDNGXJRWREG]LHWUZDR
7\ONR&DUROLQHPLDDSHFKDSRVDQRMGRyND
$OH MD FKF E\ SU]\ W\P MDN EG]LHFLH Z\FLJD VND VSXF]N
EDJDDDNLHG\PDPDQLHGDDVL]PLNF]\XURQLDMHGQ]
-D WH LG MX GR yND SRZLHG]LDD &KDUORWWD GR &DUROLQH = GREU
NVLN
: FLHQLX Z]JyU]D ZDPSLUyZ ]DNDEORZD ;HPHULXV -HVW MX QD
VWURQLH Z PLHMVFX JG]LH PRG\ FKR QLHXPDU\ &KULVWRSKHU 6W ,YHV
ZUHV]FLH]DFLJDSU]HOLF]Q0DU\/RXGRyND
3RVLDDPPXUR]EDZLRQHVSRMU]HQLHRQ]DNXPRMHPX]DVNRF]HQLXQDJOH
MDNE\OHNNRVLVSHV]\
3U]\VLJDP W\ONR U]XFLHP RNLHP PUXNQ L ]HVNRF]\ ] \UDQGROD QD
SDUDSHW
&LRFLD0DGG\Z\NRU]\VWDD]DSRZLHG&KDUORWW\
2FK PRMD NRFKDQD 0\ODDP H GRWU]\PDV] PL MHV]F]H SU]H] FKZLO
WRZDU]\VWZD Z SRNRMX PX]\F]Q\P SRZLHG]LDD 7DN E\P FKFLDD ]QRZX
SRJUDZVFUDEEOH
&KDUORWWDSU]HZUyFLDRF]DPL
2VWDWQLPUD]HPPXVLHOLP\Z\NOXF]\FL]JU\FLRFLXERXSLHUDDVL
HLVWQLHMHVRZRXV]RNRW
%R LVWQLHMH 7R NRW ] XV]DPL &LRFLD 0DGG\ ZVWDD ] IRWHOD L Z]LD
&KDUORWWHSRGUN$OHMHOLRPQLHFKRG]LG]LWRQLHRERZL]XMH
6NRF]RSWDNLNURZLVRNWHQLHSRZLHG]LDD&KDUORWWD
$OH VNRF]RSWDN ] FD SHZQRFL LVWQLHMH NUyOLF]NX RGU]HND FLRFLD
0DGG\LPUXJQDGRPQLH
=DQLPSRV]DP]/HVOLHQDJyUGRPRMHJRSRNRMXREMDPPDP
1D PDUJLQHVLH PDP FL SU]HND]D VHUGHF]QH SR]GURZLHQLD RG )DOND GH
9LOOLHUV&KFLDZLHG]LHF]\PDV]NRJRQDVWDH
= W LQIRUPDFM SRZLQQDP E\D UDF]HM SRF]HND D &KDUORWWD L FLRFLD
0DGG\ Z\MG ] SRNRMX ER RELH ]DWU]\PD\ VL L ]DFLHNDZLRQH VSRMU]D\ QD
PDP
&R"0DPDOHNNRVL]DUXPLHQLD,FRPXRGSRZLHG]LDD"
1RHMXRGZLHNyZ]QLNLPQLHZ\FKRG]LDLHRVWDWQLJR]NWyU\P
VLVSRW\NDD]DZV]HGUDSDVLZNURNXNLHG\P\ODHQLNWQLHSDWU]\
1LHSRZLHG]LDDWHJR=DPLDDPVL
1LHQLHSRZLHG]LDDP
2FK PyZLFLH R W\P SU]\VWRMQ\P EDQNLHU]H ] NWyU\P FKFLDD FL
VNRMDU]\$ULVWD"2SDQX
,WFKPDQLH"ZWUFLDVLFLRFLD
0DGG\7RQDSHZQRE\\ZV]\RQRZH/HVOLHSDUVNQDPLHFKHP
1D]\ZD VL +LWFKPDQ FLRFLX 0DGG\ 0DPD Z]GU\JDMF VL SRWDUD
GRPL UDPLRQD 'REU]H H QLH VSUDZG]LDP FR PX GROHJD 7R FR
QDSUDZGPXSRZLHG]LDD"7R]QDF]\)DONRZL"
1LFRGSDUDP$PRHPDPJRSU]\QDVWSQHMRND]ML]DS\WDF]\MHVW
ZVWD\P]ZL]NX"
=DFKRZXMVLU]XFLDPDPD3RWHPVLXPLHFKQD1LHMHVWGRGDD
:LHPWRSU]\SDGNRZRRGSHZQHMSU]\MDFLyNLNWyUDPDSU]\MDFLyNNWyUD
]QDJREOLHMDOHWRQLH]QDF]\HPQLHWRLQWHUHVXMH
1LHHH MDVQH H QLH ZWUFL ;HPHULXV 6IUXQ ] SDUDSHWX L XVLDG QD
VDP\PURGNXVWRX
0RHP\ZUHV]FLH]DF]\QD"
3y JRG]LQ\ SyQLHM /HVOLH PLDD QDMQRZV]H ZLDGRPRFL D &DUROLQH
SUDZG]LZ V]\GHNRZ ZLQN Z VW\OX YLQWDJH ] URNX .LHG\ MHM
RSRZLHG]LDDPVNGMPDPE\D]DFKZ\FRQDLSRVWDQRZLDQD]ZDZLQN
0DUJUHW QD F]H ODG\ 7LOQH\ *G\ ZV]\VWNR ZRNy ZUHV]FLH VL XVSRNRLR
]DVQDV]F]OLZD]HZLQNZREMFLDFK
0RWLSU]HFLQDNSDQD%HUQKDUGDE\RV\FKDZFD\PGRPXQLJG\QLH
XGDRE\ VL QDP SRWDMHPQLH UR]EL WHM FLDQ\ 3DQ %HUQKDUG L 1LFN QLH
]GRDOLQDWRPLDVWZQLHSRNU\MRPXVNU]\QLGRPRMHJRSRNRMX7X]DQLPL
SU]\GUHSWDODFLRFLD0DGG\
'RUZDDQDVQDVFKRGDFKSRZLHG]LD1LFNSU]HSUDV]DMF
, UR]SR]QDD VNU]\QN GRGDD UR]HPRFMRQRZDQD FLRFLD 0DGG\
1DOHDDGRPRMHJREUDWD
3U]H]FDHODWDVWDDZELEOLRWHFHLQDJOHWXSU]HGMHJRPLHUFL]QLNQD
0\OHPDPSHQHSUDZRGRZLHG]LHVLFR]DPLHU]DFLH]QL]UREL
3DQ%HUQKDUGZHVWFKQ
1LHVWHW\QLHPDP\Z\MFLD:DQLHZUyFL\GRGRPXODG\$ULVWDLSDQL
*OHQGD
1R MD Z NDG\P UD]LH MHVWHP PQLHMV]\P ]HP SUDZGD" &LRFLD 0DGG\
]DPLDDVL]VDW\VIDNFM
1DMZDQLHMV]H HE\ &KDUORWWD R QLF]\P VL QLH GRZLHG]LDD U]XFLD
/HVOLH
1LH QLH VSRNRMQD JRZD 3RV]D GR VZRMHJR SRNRMX SDUVNDMF ]H ]RFL
W\ONRGODWHJRHXR\DPVRZRNDUWRQR\FH
$ WR MDN ZV]\VF\ ZLHG] V QR\FH NWyUH VX GR SU]HFLQDQLD NDUW
ZWUFL;HPHULXV1LHZLHG]LHSRFR,SRZLQQ\E\ZNDG\PGRPX
&LRFLD 0DGG\ XNOND QD SRGRG]H RERN VNU]\QL L SRJDVNDD ]DNXU]RQH
ZLHNR
6NGMPDFLH"
3DQ %HUQKDUG VSRMU]D QD PQLH S\WDMFR D MD Z]UXV]\DP UDPLRQDPL
6NRURMXWXE\DPRJOLP\MRGUD]XZHZV]\VWNRZWDMHPQLF]\
=DPXURZDHP M QD SROHFHQLH SDQL EUDWD RZLDGF]\ SDQ %HUQKDUG ]
JRGQRFL']LHSU]HGMHJRPLHUFL
'RSLHURG]LHSU]HGMHJRPLHUFL"SRZWyU]\DP
'ODPQLHWRWHE\DQRZR
$SDPLWQLNL"VS\WDDP
1LJG\ VL QLH RGQDOD]\ Z\MDQL SDQ %HUQKDUG $ZUD] ] QLPL NOXF]
GR WHM VNU]\QL SRQLHZD ORUG 0RQWURVH ZNOHL JR ] W\X DNWXDOQHJR
SDPLWQLNDRF]\PPRJ]DZLDGF]\
;HPHULXVQLHFLHUSOLZLH]DWU]HSRWDVNU]\GDPL
%\E\P]DW\PHE\VNRF]\WJDGDQLQLSyMSRRP
$OHSU]HFLHG]LDGHNPLD]DZDOVHUFD]DXZD\1LFN
1R Fy WDN WR Z NDG\P UD]LH Z\JOGDR &LRFLD 0DGG\ JERNR
ZHVWFKQD 6WUDFL SU]\WRPQR Z ZLHNX RVLHPG]LHVLFLX ODW SU]\
ZDVQ\PELXUNXZHZDVQ\PELXU]HZ7HPSLH
0RMDZL]MDQLHE\DZ\VWDUF]DMF\PSRZRGHPGRWHJRE\]DU]G]LVHNFM
$ULVWDE\DQDPQLH]DNLHG\WHJR]DGDDP
0DP JVL VNyUN Z\V]HSWD 1LFN SU]\VXZDMF VL WURFK EOLHM L
RSLHUDMFVLRPQLH
3U]H] FKZLO ZV]\VF\ PLOF]HOLP\ ;HPHULXV NU\ ZRNy ODPS\ SRG
VXILWHP
5XV]FLHZUHV]FLHW\NL]DZRDDOHRSUyF]PQLHQLNWJRQLHV\V]D
7RMXFDHPQyVWZRSU]\SDGNyZSRZLHG]LDDZNRFX/VOLH
7DN ]JRG]LDP VL ] QL /XFDV NDH ]DPXURZD VNU]\QL L
SU]\SDGNLHPXPLHUDQDVWSQHJRGQLD
$MDSU]\SDGNLHPWU]\GQLZF]HQLHMPDPZL]MQDWHPDWLMHJRPLHUFL
GRGDDFLRFLD0DGG\
,SU]\SDGNLHPWH]QLNDMZWHG\MHJRSDPLWQLNLX]XSHQL1LFN
, SU]\SDGNLHP WHQ NOXF] NWyU\ SDQQD /HVOLH PD QD V]\L Z\JOGD
]XSHQLH WDN VDPR MDN NOXF] GR WHM VNU]\QL RGH]ZD SDQ %HUQKDUG QLHPDO
SU]HSUDV]DMF\PWRQHP3DWU]\HPQDQLHJRSU]H]FDNRODFM
/HVOLH]H]GXPLHQLHPFKZ\FLDDFXV]HN
7HQWXWDM".OXF]GRPRMHJRVHUFD"
$OH WR QLHPROLZH ZWUFLDP 8NUDGDP JR ] V]XIODG\ Z 7HPSLH
JG]LHZRVLHPQDVW\PZLHNX
7RE\RE\MX]DZLHOHSU]\SDGNyZSUDZGD"
7\ONR FLRFLD 0DGG\ ]HUZDD VL L ] ]DFKZ\WHP SRR\D UN QD VHUFX
3R]RVWDOLQLHE\OLGRWHJRVNRU]\
1LH PRH E\ MDNR LQDF]HM" ZDUNQD /HVOLH 0RLP ]GDQLHP
Z\VWDUF]\DE\OHZDUND
3RNUFLDPJRZ
3U]\VLJQLMFLH
3U]\VLJDPQDVZRMH\FLH]DZRDDZHVRRFLRFLD0DGG\
3U]\VLJDPPUXNQOLZV]\VF\SRGQRVHP
1LFN ]DF] QHUZRZR FKLFKRWD ER FLRFLD 0DGG\ HE\ GRGD WHM FKZLOL
SRZDJL]DF]DQXFLK\PQQDURGRZ\
7URFK]DVNU]\SLDRNLHG\SDQ%HUQKDUGQLH]DSRPQLDZV]\XSHZQLVL
QDMSLHUZ F]\ VL QD WR ]JDG]DP SRGQLyV ZLHNR VNU]\QL -HJR SDOFH
RVWURQLH UR]ZLQ\ NLOND ]EXWZLD\FK DNVDPLWQ\FK FKXVW L NLHG\ ZUHV]FLH
Z\GRE\ WHQ SU]HGPLRW NWyU\ E\ QLPL RZLQLW\ ZV]\VF\ Z\GDOL ] VLHELH
RNU]\N]DVNRF]HQLDFRZVW\OXRFKLDFK,W\ONR;HPHULXV]DZRD
.UXFDIXNV
&]\ WRMHVW PRH WR FR P\O" ]DS\WDD SR FKZLOL FLRFLD0DGG\ZFL
SDWU]FV]HURNRRWZDUW\PLRF]DPL
7DN SRWZLHUG]LDP ]PF]RQD L RGJDUQDP ZRV\ ] WZDU]\ 7R MHVW
FKURQRJUDI
1LFN L FLRFLD 0DGG\ Z\V]OL QLHFKWQLH SDQ %HUQKDUG G\VNUHWQLH D /HVOLH
ZUyG SURWHVWyZ $OH MHM PDPD MX GZD UD]\ G]ZRQLD GR QLHM QD NRPyUN
HE\ VL GRZLHG]LH F]\ D ]RVWDD ]DPRUGRZDQD OXE E OH\ PRH JG]LH
SRVLHNDQDQDNDZDNLZ+\GH3DUNXDZLFQLHPLDDZ\ERUX
3U]HGWHP MHGQDN PXVLDDP MHM SU]\VLF H EG VL FLOH WU]\PDD
QDV]HJRSODQX
1DZDVQH\FLH]DGDDL]URELDPMHMWSU]\MHPQR:RGUyQLHQLX
RGFLRFL0DGG\QDWRPLDVW]UH]\JQRZDDP]K\PQXQDURGRZHJR
: PRLP SRNRMX ZUHV]FLH ]DSDQRZDD FLV]D L GZLH JRG]LQ\ SR W\P MDN
PDPD MHV]F]H GR PQLH ]DMU]DD FLV]D ]DOHJD Z FD\P GRPX 0XVLDDP
VWRF]\]HVRESUDZG]LZZDONF]\QDSUDZGQLHZ\SUyERZDFKURQRJUDIX
RG UD]X WHM QRF\ 'OD /XFDVD WR E\R EH] UyQLF\ F]\ QD QDV]H VSRWNDQLH Z
URNX XGDP VL G]LVLDM F]\ MXWUR F]\ PRH GRSLHUR ]D F]WHU\ W\JRGQLH
GOD PQLH ]D MHGQD SU]HVSDQD QRF SUDZGRSRGREQLH PRJD ]G]LDD FXGD =
GUXJLHM VWURQ\ MXWUR PXVLDDP L QD WHQ EDO L ]QRZX VWDQ RNR Z RNR ]
KUDELGH6DLQW*HUPDLQDZFLMHV]F]HQLHZLHG]LDDPFRRQ]DPLHU]D
2ZLQZV]\FKURQRJUDIV]ODIURNLHPSU]HPNQDPSRVFKRGDFKQDGy
:DFLZLHSRFRZOHF]HV]WR]HVRESU]H]FD\GRP"VS\WD;HPHULXV
0RJDE\SRSURVWXSU]HVNRF]\]HVZRMHJRSRNRMX
7DN DOH VNG PDP ZLHG]LH NWR WDP VSD Z URNX" $ SRWHP
PXVLDDE\P VL MHV]F]H SU]HNUDGD SU]H] FD\ GRP L U\]\NRZD H ]QRZX
NWR PQLH ZHPLH ]D ZDP\ZDF]N 1LH OHSLHM SU]HVNRF] EH]SRUHGQLR Z
WDMQ\PNRU\WDU]XZWHG\OGXMFQLHQDUDVLQDWRHNWRPQLH]REDF]\
/XFDVEG]LHQDPQLHF]HNDSU]HGSRUWUHWHPSUDSUDSUDSUDG]LDGND+XJK
/LF]ED W\FK SUD ]D NDG\P UD]HP MHVW LQQD ]DXZD\ ;HPHULXV
*G\E\PE\ZDPLQD]\ZDE\PJRSRSURVWXWXVW\PSU]RGNLHP
=LJQRURZDDP JR NRQFHQWUXMF VL QD VNU]\SLF\FK VWRSQLDFK VFKRGyZ
&KZLO SyQLHM RGVXQDP QD ERN REUD] EH]V]PHURZR SRQLHZD SDQ
%HUQKDUGQDROLZLPHFKDQL]P3R]DW\PZSUDZL]DPNL]DUyZQRZGU]ZLDFK
GRD]LHQNLMDNLZGU]ZLDFKSURZDG]F\FKQDVFKRG\1DMSLHUZ]DZDKDDP
VL F]\ MH ]DPNQ %R JG\E\P ] MDNLHJR SRZRGX E\D ]PXV]RQD
SU]HVNRF]\]SRZURWHP]LQQHJRPLHMVFDVDPDRGFLDE\PVRELHGRVWSGR
WDMQHJRNRU\WDU]DLFKURQRJUDIX
7U]\PDM]DPQLHNFLXNLHE\VLXGDR ]ZUyFLDPVLGR ;HPHULXVDSR
F]\P XNONDP ZVXQDP SDOHF ZVND]XMF\ GR SU]HJUyGNL SRG UXELQHP L
PRFQR QDFLVQDP QD LJ QDZLDHP PyZLF GR WHJR XNXFLD QLH GDR VL
SU]\Z\NQ]DNDG\PUD]HPSLHNLHOQLHERODR
7U]\PDE\P JG\E\P MH PLD SRZLHG]LD MHV]F]H ;HPHULXV D SRWHP
]QLNQDZUD]]QLPWDNHFKURQRJUDI
2GHWFKQDPJERNRDOHFLNLHSRZLHWU]HZNRU\WDU]XQLH]E\WSRPRJRZ
SR]E\FLXVLPGRFL
:\SURVWRZDDP VL FKZLHMQLH FKZ\FLDP PRFQLHM ODWDUN 1LFND L
RWZRU]\DPGU]ZLQDVFKRG\
7U]HV]F]DR L VNU]\SLDR MDN Z SUDZG]LZ\P KRUURU]H NLHG\ SU]HVXZDDP
REUD]QDERN
7XMHVWHZ\V]HSWD/XFDVNWyU\WDNHX]EURMRQ\ZODWDUNF]HNDQD
PQLHSRGUXJLHMVWURQLH
3U]H]VHNXQGREDZLDHPVLHWRPRHE\GRPRZ\XSLyUSXQNWXDOQLH
RSyQRF\
:SLDPLH]3LRWUXVLHP.UyOLNLHP"
7URFK VRELH Z\SLHP GODWHJR DOH FLHV] VL H PLDHP UDFM FR VL
W\F]\]DZDUWRFLVNU]\QL
7DN L QD V]F]FLH FKURQRJUDI ZFL G]LDD 0DP JRG]LQ WDN MDN VL
XPDZLDOLP\
7RFKRGV]\ENR]DQLP]DF]QLH]QRZXU\F]HLREXG]LFD\GRP
.WR"VS\WDDPSU]HUDRQD
1R PD\ +DUU\ =ENXMH F]\ FRZ W\P VW\OX : NDG\PUD]LHZ\MHMDN
V\UHQD
:XMHN+DUU\"
$ULVWDPyZLH]HZ]JOGyZZ\FKRZDZF]\FKQDOH\PXSR]ZROLSDND
ER LQDF]HMZ\URQLH ] QLHJR PLF]DN $OH WHJR DGHQ F]RZLHN QLHZ\WU]\PD
&]DVDPLVLGRQLHJRSU]HNUDGDPDQLHFKVRELHEG]LHPLF]DNLHP-DNPX
VLSLHZDROLVNXNWyU\XNUDGJVNWRSU]HVWDMHSDND
%LHGQ\ ZXMHN +DUU\ 3RZLHG]LDDE\P H WR NODV\F]Q\ SU]\SDGHN
ZF]HVQRG]LHFLFHJRLPSULQWLQJX,FyVLG]LZLHG]LDVLWU]VLHHE\
XVWU]HOLZV]\VWNRFRW\ONRQDSDWRF]\PXVLSRGOXINDF]NLMHOHQLHG]LNL
D SU]HGH ZV]\VWNLP OLV\ %\ SUH]HVHP VWRZDU]\V]HQLD NWyUH ZDOF]\R R
SU]\ZUyFHQLHOHJDOQ\FKSRORZD]QDJRQNQDOLV\ZKUDEVWZLH*ORXFHVWHU
0RHSRZLQLHQHPXSLHZDFRLQQHJR,GDPXSOXV]RZHJROLVND
8NUDGNLHP SU]HGRVWDOLP\ VL GR ELEOLRWHNL L /XFDV ]DPNQ ]D VRE
GU]ZL
1RGDOLP\UDG2GHWFKQ]XOJ
: SRUyZQDQLX ] PRLPL F]DVDPL SRNyM QLH ]PLHQL VL ]E\WQLR W\ONR GZD
IRWHOH SU]HG NRPLQNLHP PLD\ LQQH RELFLD QLHELHVNR]LHORQ V]NRFN NUDW
]DPLDVWNUHPRZ\FKUyQDFLHPQR]LHORQ\PWOH
1DVWROLNXPLG]\IRWHODPLVWDG]EDQHN]KHUEDWQDSRGJU]HZDF]XGZLH
ILOLDQNL L ]DPNQDP RF]\ L ]QRZX MH RWZRU]\DP DOH QLH WR QLH E\D
KDOXF\QDFMD WDOHU] ] NDQDSNDPL 1LH VXFKH KHUEDWQLNL W\ONR SUDZG]LZH
SR\ZQHNDQDSNL1LHPRJDPZWRXZLHU]\/XFDVRSDGQDMHGHQ]IRWHOLL
ZVND]DPLPLHMVFHQDSU]HFLZNR
-HOL MHVWH JRGQD SRF] ]DF] DOH MD MX ]G\DP FKZ\FL
NDQDSNL]DWRSLZQLHM]E\
5DWXMHV] PL \FLH Z\]QDDP ] SHQ EX]L $OH SRWHP SU]\V]R PL FR
GRJRZ\0DPQDG]LHMHWRQLHMHVWSDVWUDPL"
1LH2JyUHNLV]\QNDSRZLHG]LD/XFDV:\JOGDV]QD]PF]RQ
7\WH
-HV]F]H QLH RGSRF]HP SR HPRFMDFK ZF]RUDMV]HJR ZLHF]RUD 1DMSLHUZ
MDNPyZLHPPXVLDHPVRELHSR]ZROLQDV]NODQHF]NZKLVN\1RGREUDQD
GZLH8ZLDGRPLHPVRELHZW\PF]DVLHGZLHU]HF]\WDNWDNZHVSRNRMQLH
MHV]F]HMHGQNDQDSN,QLHMHG]WDNV]\ENR$VWUDFKQDFLHELHSDWU]H
0yZ GDOHM SRZLHG]LDDP -DN GREU]H E\R ZUHV]FLH FR ]MH 0LDDP
ZUDHQLH H QLJG\ GRWG QLH MDGDP WDN S\V]Q\FK NDQDSHN -DNLH GZLH
U]HF]\VRELHXZLDGRPLH"
$ ZLF SR SLHUZV]H FKR MHVW WDN PLR QDV]H VSRWNDQLD PXV] VL
RGE\ZD]QDF]QLHSyQLHMZSU]\V]RFLMHOLPDMQDPFRGDMDNQDMEOLHM
URNX Z NWyU\P VL XURG]LD 'R WHM SRU\ PRH ]UR]XPLHP FR L GODF]HJR
]DPLHU]DM /XF\ L 3DXO D QD SHZQR EG ZLHG]LD ZLFHM QL G]LVLDM 7R
]QDF]\ H QDVWSQ\P UD]HP ]REDF]\P\ VL Z URNX :WHG\ EG WH
PyJFLSRPyFZVSUDZLHWHJREDOX
7DNWREU]PLDRORJLF]QLH
$ SR GUXJLH WR ZV]\VWNR ]DG]LDD W\ONR ZWHG\ NLHG\ GRVWDQ VL EOLHM
ZDG]\FHQWUDOQHM
6WUDQLNyZWR]QDF]\GR.UJX:HZQWU]QHJR
*ZDWRZQLHVNLQDPJRZ1LHPRJDPQLFSRZLHG]LHERPLDDPSHQH
XVWD
'RWG PRMH DPELFMH Z W\P ]DNUHVLH E\\ XPLDUNRZDQH 6SRMU]HQLH
/XFDVD SDGR QD KHUE URG]LQ\ 0RQWURVH ]DZLHV]RQ\ QDG NRPLQNLHP PLHF]
RNRORQ\UyDPLSRGQLPVRZD+,&5+2'26+,&6$/7$FR]QDF]\RPQLHM
ZLFHM3RNDFRQDSUDZGSRWUDILV]2GVDPHJRSRF]WNXPLDHPZOR\
Z\VRN SR]\FM ER Z NRFX URG]LQD 0RQWURVH E\D UHSUH]HQWRZDQD WDNH
5R]G]LD
2 QLH ]QRZX U\F]DD SRZLHG]LD ;HPHULXV NWyU\ F]HND QD PQLH Z
WDMQ\PNRU\WDU]X
7DNSRWZLHUG]LDPRVFKOH
3RHJQDQLH ] /XFDVHP SU]\V]R PL ] ZLHONLP WUXGHP L QLH W\ONR MD
XURQLDPNLONDH]1LH]REDF]\P\VLSU]H]WU]\G]LHFLVLHGHPODWZNDG\P
UD]LH]MHJRSHUVSHNW\Z\LRERMHX]QDOLP\HWRQLHZ\REUDDOQLHGXJLF]DV
1DMFKWQLHM RG UD]X SU]HVNRF]\DE\P WHUD] GR URNX DOH PXVLDDP
SU]\U]HF /XFDVRZL H QDMSLHUZ VL Z\SL 1R SRZLHG]P\ H VL Z\SL
%\DGUXJDZQRF\DMDPXVLDDPZVWD]DSLWQDFLHVLyGPD0DPDEG]LH
SRWU]HERZDDGZLJXHE\SRGQLHPQLH]yND
3RQLHZD ]H VWURQ\ ;HPHULXVD QLH GRELHJD PQLH DGQD EH]F]HOQD
RGSRZLHG ]DZLHFLDP PX ODWDUN Z WZDU] 3HZQLH W\ONR WR VRELH
ZPyZLDP DOH Z\JOGD QD WURFK VPXWQHJR L SU]\V]R PL GR JRZ\ H
VWUDV]QLHJR]DQLHGE\ZDDPSU]H]FD\G]LH
7R PLR H QD PQLH F]HNDV] ;HPL ;HPHULXVLH SRZLHG]LDDP Z
QDJ\PSU]\S\ZLHF]XRFL
&KWQLHE\PJRSRJDVNDDDOHWHJRVLGXFKRPQLHUREL
&]\VW\SU]\SDGHN5R]JOGDHPVLZDQLH]DRGSRZLHGQLNU\MyZNGOD
WHJRF]HJR:VND]DFKURQRJUDINWyU\RZLQDP]SRZURWHPV]ODIURNLHPL
XPLHFLDPQDMSLHUZQDELRGU]HDSRWHPSRGSDFK
=LHZDMF Z\OD]DP SU]H] RWZyU L FLFKR SU]HVXQDP ZL]HUXQHN SUDSUD
WXVWHJR SU]RGND ] SRZURWHP QD GU]ZL ;HPHULXV IUXQ RERN PQLH Z JyU
VFKRGyZ
-DN ZFLQLHV] W\OQ FLDQ Z VZRMHM V]DILH D WR MHVW W\ONR S\WD
NDUWRQRZRJLSVRZD ZLF GDV] UDG WR PRHV] VL VWDPWG SU]HF]RJD GR
RE]HMG\$WDPPROLZRFLXNU\FLDVQLHRJUDQLF]RQH
1DG]LVLHMV]QRFFK\EDZVXQJRSRSURVWXSRGyNR1RJLFL\\PL
MDNE\E\\]RRZLX
:\F]\DP ODWDUN GURJ GR V\SLDOQL SRWUDILDP ]QDOH SR FLHPNX
=DSHZQHWDNHZHQLH:NDG\PUD]LHPLMDMFGU]ZLSRNRMX&KDUORWW\MX
QD ZSy VSDDP L GODWHJR QLHPDO XSXFLDP FKURQRJUDI QD SRGRJ NLHG\
GU]ZLVLRWZRU]\\LVWDQDPXZL]LRQDZVPXG]HZLDWD
2VKLWEXUNQ;HPHULXV3U]HGWHPZV]\VF\NLPDOLVHULR
&]\ QLH MHVWH MX WURFK ]D VWDUD QD SLDP ] NUyOLF]NLHP" VS\WDD
&KDUORWWD
=ZG]LNLHPRSDUDVLRIXWU\QXEUDQDZNRV]XOQRFQQDFLHQLXWNLFK
UDPLF]NDFK :RV\ RSDGD\ MHM E\V]F]F\PL IDODPL QD UDPLRQD WR MHVW
]DOHWD ZDUNRF]\ G]LDDM MHGQRF]HQLH MDN ORNyZND GDMF HIHNW ]RWHJR
DQLRND
=ZDULRZDD" 7DN PQLH Z\VWUDV]\ PyZLDP V]HSWHP HE\ QLH
REXG]LFLRWNL*OHQG\
&]HPXVNUDGDV]VLZURGNXQRF\SU]H]PyMNRU\WDU]"&RWDPPDV]"
$ Fy WR PD ]QDF]\ WZyM NRU\WDU]" 0DP VL ZVSLQD QD ]HZQWU] SR
IDVDG]LHHE\GRMGRVZRMHJRSRNRMX"
&KDUORWWDRGNOHLDVLRGIXWU\Q\LSRGHV]DNURNEOLHM
&RWDPPDV]SRGSDFK"SRZWyU]\DW\PUD]HP]JUREZJRVLH
)DNWHV]HSWDDVSUDZLDHEU]PLDRWRMHV]F]HEDUG]LHM]RZLHV]F]R,GR
WHJRSDWU]\DWDNEH]F]HOQLHHQLHPLDDPRGZDJLMHMPLQ
2FK RFK RGH]ZD VL ;HPHULXV .WR WX FLHUSL QD FLNL ]HVSy
QDSLFLDSU]HGPLHVLF]NRZHJR
']LVLDME\PVL]QLQLHZGDZDZVSRU\
:FDOHQLH]DPLHU]DDP
&KRG]LFLRPyMV]ODIURN"
3RNDFRWDPPDV]]DGDD=URELDPNURNGRW\X
2GELR FL" 1LH EG FL Z URGNX QRF\ SRND]\ZD PRMHJR V]ODIURND $
WHUD]PQLHSU]HSXFKFLGRyND
$MDFKF]REDF]\FRWDPPDV]V\NQD&KDUORWWD0\OLV]HMHVWHP
WDNDQDLZQDMDNW\"
0\OLV] H QLH ]DXZD\DP ZDV]\FK VSLVNRZ\FK VSRMU]H L V]HSWDQLD"
-HOLFKFHFLHFRSU]HGHPQXNU\WRPXVLFLHVLWURFKEDUG]LHMSRVWDUD
2FRFKRG]L]WVNU]\QNNWyUWZyMEUDWLSDQ
%HUQKDUG ZQLHOL GR FLHELH QD JyU" &]\ Z URGNX E\R WR FR PDV] SRG
SDFK"
1R ZLF WDND JXSLD WR RQD QLH MHVW SRZLHG]LD ;HPHULXV GUDSLF VL
VNU]\GHPSRQRVLH
2 LQQHM SRU]H GQLD L JG\E\P QLH E\D WDN SLFD Z\P\OLDE\P QD
SRF]HNDQLXMDNKLVWRU\MNDOHWHUD]SRSURVWXQLHPLDDPVL\
1LFFLGRWHJRSU\FKQDP
$OH RZV]HP RGSRZLHG]LDD 0RHQLHMHVWHP UXELQHPLZ ]ZL]NX]
W\P QLH QDOH GR .UJX 'ZDQDFLRUJD DOH Z SU]HFLZLHVWZLH GR FLHELH
SU]\QDMPQLHM P\O 1LH V\V]DDP ZV]\VWNLHJR FR PyZLOLFLH Z WZRLP
SRNRMXDOHLWDNZ]XSHQRFLPLZ\VWDUF]\=URELDNURNZPRMVWURQ
0DV]PLWRZWHMFKZLOLGDMHOLQLHFKFHV]HE\PVDPDZ]LD
3RGVXFKLZDDQDV"
1DJOH ]URELR PL VL VDER -DN GXR XV\V]DD" &]\ ZLHG]LDD H WR MHVW
FKURQRJUDI" 1DZLDVHP PyZLF Z FLJX RVWDWQLHM PLQXW\ ]UREL VL
SU]\QDMPQLHMGZDUD]\FLV]\1DZV]HONLZ\SDGHNZ]LDPJRZRELHUFH
XSXV]F]DMFSU]\W\PODWDUN1LFNDNWyUDJRQRVWXNQDRSRGRJ
7HUD]ZFDOHMXQLHE\DPSHZQDF]\FKFHE\FLRWND*OHQGDGDOHMVSDD
:LHG]LDDHRERMH]*LGHRQHPFKRG]LOLP\QDNUDYPDJ"&KDUORWWD
]URELDMHV]F]HMHGHQNURNZPRMVWURQDMDDXWRPDW\F]QLHVLFRIQDP
1LH D W\ ZLHG]LDD H Z\JOGDV] WHUD] MDN WHQ ]ZDULRZDQ\ JU\]R ]
(SRNLORGRZFRZHM"
0RH EG]LHP\ PLHOL V]F]FLH L RNDH VL H NUDY PDJD WR W\ONR MDNLH
QLHJURQHZLVWZDSRZLHG]LD;HPHULXV-DNNDPDVXWUD=DFKLFKRWD
6RUU\ DOH QDMOHSV]H GRZFLS\ ]DZV]H SU]\FKRG] PL GR JRZ\ Z V\WXDFMDFK
HNVWUHPDOQ\FK
.UDY PDJD WR L]UDHOVND WHFKQLND ZDONL EDUG]R VNXWHF]QD
SRLQIRUPRZDD PQLH &KDUORWWD 0RJDE\P FL ]DDWZL NRSQLDNLHP Z
SOH[XVVRODULVDOERMHGQ\PFLRVHP]DPDFLNDUN
$MDPRJDE\PZH]ZDSRPRF
'RWHMSRU\RELHPyZL\P\V]HSWHPFRPXVLDREU]PLHPQLHMZLFHMWDN
MDNE\UR]PDZLD\GZLHPLMHWVVVWVVVWVVV
&R E\ VL VWDR JG\E\P ]DZRDD QD SODQ SR]RVWD\FK PLHV]NDFyZ WHJR
GRPX" 3UDZGRSRGREQLH &KDUORWWD QLH ]DPDDE\ PL NDUNX DOH ZV]\VF\
FKFLHOLE\VLGRZLHG]LHFR]RVWDR]DZLQLWHZV]ODIURN
&KDUORWWD MDNE\ RGJDGXMF PRMH P\OL ]DPLDD VL GUZLFR SRGHV]D GR
PQLHMHV]F]HEOLHM
3URV].U]\F]
-DE\PWR]URELSRZLHG]LD;HPHULXV
:FDOH QLH PXVLDDP ER ]D SOHFDPL &KDUORWW\ MDN ]DZV]H QLF]\P VSRG
]LHPLZ\QXU]\VLSDQ
%HUQKDUG
&]\PRJZF]\PSDQLRPSRPyF"]DS\WDD&KDUORWWD2GZUyFLDVL
E\VNDZLF]QLHMDNSU]HVWUDV]RQ\NRW
3U]H] XDPHN VHNXQG\ P\ODDP H FKFH NRSQ SDQD %HUQKDUGD Z
SOH[XVVRODULV1DV]F]FLHWHJRQLH]URELD
&]DVHPZQRF\WHQDFKRG]LPQLHJyGLE\E\PJRWyZSU]\JRWRZDPD
SU]HNVNVNRURMXWXMHVWHPFLJQQLHZ]UXV]RQ\SDQ%HUQKDUG
-HJR ZLGRN SU]\QLyV PL WDN XOJ H Z\EXFKQDP KLVWHU\F]Q\P
PLHFKHP
:DQLH FR VRELH Z]LDP ] NXFKQL :VND]DDP SRGEUyGNLHP QD
]DZLQLWNR SU]\ SLHUVL $OH NDUDWH NLG PD RVWU\ QLHGREyU FXNUX L SLOQLH
SRWU]HEXMHSU]HNVNL
&KDUORWWDSU]HVDGQLHZROQRSRZORNDVL]SRZURWHPGRVZRMHJRSRNRMX
%G PLDD QD FLHELH RNR SRZLHG]LDD RVNDU\FLHOVNR NLHUXMF SDOHF
ZVND]XMF\ZVWURQPRMHMSLHUVL6FHQDE\DWDNWHDWUDOQDMDNE\G]LHZF]\QD
PLDD]DF]FRGHNODPRZD,QDSDQDWHSDQLH%HUQKDUG
1R WR PXVLP\ VL PLH QD EDF]QRFL V]HSQDP JG\ ]DPNQD GU]ZL
VZRMHJRSRNRMXLNRU\WDU]]QyZVSRZL\FLHPQRFL%RRQDZLHFRWR7DG
0DKDO
7HQLHOHVNRPHQWRZD]X]QDQLHP;HPHULXV0RFQRSU]\FLVQDPGR
VLHELH]DZLQLWNRZV]ODIURNX
,FRSRGHMU]HZD$PRHQDZHWZLHFR]QDOHOLP\1DSHZQRQDNDEOXMH
QDQDV6WUDQLNRPDMHOLRQLXV\V]HPDP\
6G]HLVWQLHMEH]SLHF]QLHMV]HPLHMVFDLSRU\HE\WRSU]HG\VNXWRZD
QLH]Z\NOHRVWURSU]HUZDPLSDQ%HUQKDUG
3RGQLyV]SRGRJLODWDUN1LFND]DZLHFLMLSU]HVXQVWRHNZLDWDSR
GU]ZLDFK SRNRMX &KDUORWW\ Z JyU D GR SyRNUJHJR ZLHWOLND %\
XFK\ORQ\
6NLQDPJRZQD]QDNH]UR]XPLDDP&KDUORWWDV\V]DDNDGHVRZR
7DNPDSDQUDFM'REUDQRFSDQLH%HUQKDUG
'REUHMQRF\SDQQR*ZHQGRO\Q
1DVWSQHJRUDQNDPDPDQLHSRWU]HERZDDGZLJXHE\PQLHREXG]L-HM
WDNW\ND E\D EDUG]LHM SHUILGQD 8\D WHJR REU]\GOLZHJR SODVWLNRZHJR
ZLWHJR 0LNRDMD NWyUHJR &DUROLQH GRVWDD Z ]HV]\P URNX SU]HG %R\P
1DURG]HQLHP L NWyU\ MDN VL JR QDNUFL RK\GQLH VNU]HF]F\P JRVHP
Z\U]XFD]VLHELHEH]SU]HUZ\+RKRKR0HUU\&KULVWPDVHYHU\RQH
1DSRF]WNXSUyERZDDPMHV]F]HXFLHFSU]HGW\PKDDVHPQDNU\ZDMFVL
NRGU $OH SR V]HVQDVW\P KRKRKR SRGGDDP VL L RGU]XFLDP NRGU QD
ERN1DW\FKPLDVWMHGQDNWHJRSRDRZDDPERSU]\SRPQLDRPLVLFRPQLH
G]LVLDMF]HND%DO
-HOL QLH ]GDU]\ VL FXG L QLH ]QDMG RND]ML HE\ G]L SU]HG SRXGQLHP
SU]HVNRF]\GRG]LDGNDGRURNXEGPXVLDDEH]LQIRUPDFMLRGQLHJR
VWDQRNRZRNR]KUDEL
3U]\JU\]DP ZDUJ 3RZLQQDP E\D Z QRF\ MHV]F]H UD] SU]HQLH VL Z
F]DVLH7\OHHZWHG\
&KDUORWWD RGNU\DE\ SHZQLH PRMH ]DPLDU\ ZLF PRH OHSLHM H WHJR QLH
]URELDP
:VWDDP]yNDLSRZORNDPVLGRD]LHQNL6SDDPW\ONRWU]\JRG]LQ\3R
QRFQ\FK Z\VWSDFK &KDUORWW\ ZOD]DP MDN UDG]L ;HPHULXV GR WHM V]DI\
:\SFKQDPMHMW\OQFLDQLUR]SUXDPEU]XFKNURNRG\ODHE\XNU\WDP
FKURQRJUDI
3RWHPZ\NRF]RQD]DSDGDPZVHQNWyU\PLDSU]\QDMPQLHMW]DOHWH
QLF ]HJR PL VL QLH QLR 6]F]HU]H PyZLF QLF PL VL QLH QLR Z
RGUyQLHQLXRGFLRFL0DGG\.LHG\VSyQLRQDERSU]H]FDHZLHNLV]XNDDP
NRUHNWRUD PDP\ HE\ ]DWXV]RZD VRELH FLHQLH SRG RF]DPL V]DP QD
SLHUZV]HSLWURQDQLDGDQLHSU]HFKZ\FLDPQLHZNRU\WDU]XLZFLJQDGR
VZRMHJRSRNRMX
&R QLH WDN" VS\WDDP ZLHG]F MX H PRJDP VRELH GDURZD WR
S\WDQLH
6NRUR FLRFLD 0DGG\ R ZSy GR yVPHM E\D QD QRJDFK WR QD SHZQR FR
PXVLDRE\EDUG]RQLHWDN
%\D UR]F]RFKUDQD D MHGHQ ] GZyFK ZDNyZ NWyUH RGJDUQLD\ MHM EORQG
ZRV\]WZDU]\RGNUFLVLL]ZLVDWHUD]QDGXFKHP
2FK *ZHQGRO\Q PRMH G]LHFNR PRQD WDN SRZLHG]LH &LRFLD 0DGG\
RSDGDQDQLH]DVDQH
yNR L ] GUDPDW\F]QLH ]PDUV]F]RQ\P F]RHP VSRMU]DD QD NZLDWRZ\Z]yU
WDSHW\ZNRORU]HODZHQG\0LDDPZL]M
2QLHW\ONRQLHWR
1LHFK]JDGQNWRUR]JQLyWVHUFH]UXELQXREFDVHPEXWDZ\SDOLDP
$PRHE\WDPWDNHNUXNNWyU\ZOHFLDZZLWU\QSHQHHH]HJDUyZ"
&LRFLD 0DGG\ SRNUFLD JRZ DMHM ORNL VL UR]V\SD\ L WHUD] WDNH GUXJL
ZDHNQLHEH]SLHF]QLHVLSU]HFK\OL
1LH *ZHQGRO\Q QLH SRZLQQD VRELH VWURL DUWyZ 7H ZL]MH &]DVHP
PRH QLH ZLHP FR R]QDF]DM DOH SR IDNFLH ]DZV]H RND]XM VL ZDQH
&KZ\FLD PQLH ]D UN L SU]\FLJQD GR VLHELH 7\P UD]HP WR E\R WDNLH
MHGQR]QDF]QH :LG]LDDP FL Z QLHELHVNLHM VXNQL ] V]HURNR UR]RRQ
VSyGQLFZV]G]LHGRNRDSDOL\VLZLHFHLNWRJUDQDVNU]\SFDFK
1LH SRWUDILDP ]DSRELHF SRMDZLHQLX VL JVLHM VNyUNL 1LH GR H L WDN
PLDDP QLH QDMOHSV]H SU]HF]XFLD Z ]ZL]NX ] W\P EDOHP WR MHV]F]H FLRFLD
0DGG\ PXVLDD PLH ZL]M 1LH RSRZLDGDDP MHM DQL R EDOX DQL R NRORU]H
VXNQLEDORZHM
&LRFLD0DGG\]]DGRZROHQLHPVSRVWU]HJDHZUHV]FLHXGDRMHMVLVNXSL
QDVRELHFDPRMXZDJ
1D SRF]WNX ZV]\VWNR Z\JOGDR EDUG]R VSRNRMQLH ZV]\VF\ WDF]\OL W\
WH DOH SRWHP ]DXZD\DP HZ VDOL EDORZHM QLH E\R VXILWX 1D QLHELH QDG
WRE ]DF]\ VL ]ELHUD VWUDV]OLZH F]DUQH FKPXU\ ] NWyU\FK Z\IUXQ
RJURPQ\ SWDN JRWyZ VL QD FLHELH U]XFL PyZLD GDOHM FRUD] EDUG]LHM
SU]HMWD $ NLHG\ FKFLDD XFLHF ZSDGD ZSURVW DFK WR E\R RNURSQH
:V]G]LH NUHZ ZV]\VWNR E\R F]HUZRQH RG NUZL QDZHW QLHER ]DEDUZLR VL
QDF]HUZRQRLNURSOHGHV]F]XWHQLHE\\QLF]\PLQQ\PMDNNUZL
(KPFLRFLX0DGG\"=DDPDDUFH
7DN ZLHP PRMD NRFKDQD WR MHVW SRWZRUQLH SU]HUDDMFH DOH PDP
QDG]LHMHQLH]QDF]\WHJRFR]GDMHVLWHPXQDMEOLV]H
&K\EDFRSRPLQDSU]HUZDDPMHMSRQRZQLH1DFRMDWR]QDF]\
QDFRZSDGDWD
*ZHQGRO\Q]WZRMHJRVQX"
1LH VQX7R E\DZL]MD &LRFLD 0DGG\ RWZRU]\DRF]\MHV]F]H V]HU]HM R
LOHWRZRJyOHE\RPROLZH1DPLHF]:ELHJDSURVWRQDQLHJR
1DPLHF]"$VNGVLWDPZ]L"
2QRQSRSURVWXZLVLDZSRZLHWU]XWDNPLVLZ\GDMHRGU]HNDFLRFLD
0DGG\ L ]DPDFKDD PL GRQL WX SU]HG QRVHP $OH QLH R WR FKRG]L
FLJQDOHNNR]LU\WRZDQDW\ONRRWPDVNUZL
+P8VLDGDPRERNQLHMQDEU]HJXyND$FRZDFLZLHPDPWHUD]
SRF]]W\PLLQIRUPDFMDPL"
&LRFLD 0DGG\ UR]HMU]DD VL Z\RZLD ] QRFQHJR VWROLND SXV]N ]
FXNLHUNDPLF\WU\QRZ\PLLZHWNQDVRELHMHGHQGRXVW
0RMD GURJD SU]HFLH MD WHJR QLH ZLHP 3RP\ODDP W\ONR H PRH FL WR
SRPRHMDNRRVWU]HHQLH
7DN6SUyEXMQLHZSDGDQDPLHF]HZLV]FHZSRZLHWU]XRELHFXMFLWR
8FDRZDDPFLRFL
0DGG\ L ZVWDDP $ W\ PRH SRZLQQD VL WURFK SU]HVSD SU]HFLH WR
QLHMHVWMHV]F]HWZRMDSRUD
7DNFK\EDSRZLQQDP3RR\DVLLSU]\NU\DNRGU$OHSURV]QLH
OHNFHZDWHJRSRZLHG]LDD8ZDDMQDVLHELH
%GXZDD:GU]ZLDFKREUyFLDPVLMHV]F]H$RGFKU]NQDP
F]\ZWZRMHMZL]MLSU]\SDGNLHPQLHE\ROZD"$OERGLDPHQWX"$OERPRH
VRFD"
1LHRGSDUDFLRFLD0DGG\MX]]DPNQLW\PLRF]DPL
7DNP\ODDPPUXNQDPLFLFKR]DPNQDP]DVREGU]ZL
.LHG\GRWDUDPQDQLDGDQLHRGUD]X]DXZD\DPHEUDNXMH&KDUORWW\
%LHGQH G]LHFNR MHVW FKRUH SRZLHG]LDD FLRWND *OHQGD 1LHZLHOND
JRUF]ND L VWUDV]Q\ EyO JRZ\ SU]\SXV]F]DP H WR WD JU\SD NWyUD REHFQLH
V]DOHMH&]\PRHV]XVSUDZLHGOLZLVZRMNX]\QNZV]NROH*ZHQGRO\Q"
6NLQDPSRQXURJRZ*U\SDDNXUDW&KDUORWWDFKFLDD]RVWDZGRPX
HE\PyFGRNDGQLHSU]HV]XNDPyMSRNyM
;HPHULXV NWyU\ VLHG]LD QD VWROH Z PLVFH ] RZRFDPL QDMZ\UDQLHM
SRP\ODRW\PVDP\P
0yZLHPHQLHMHVWJXSLDRGH]ZDVL
7DNH SDQ %HUQKDUG EDODQVXMF\ WDOHU]HP ] MDMHF]QLF U]XFL PL
Z\PRZQHVSRMU]HQLH
2VWDWQLH W\JRGQLH E\\ ]E\W HPRFMRQXMFH GOD WHJR ELHGQHJR G]LHFND
SRZLHG]LDD FLRWND *OHQGD LJQRUXMF QLHXSU]HMPH SDUVNQLFLH 1LFND 1LH
PDFRVLG]LZLHMHMRUJDQL]PGRPDJDVLWHUD]RGSRF]\QNX
1LHJDGDMJXSRW*OHQGR]UXJDDMODG\$ULVWDLXSLD\F]HNKHUEDW\
0\ Z URG]LQLH 0RQWURVH Z\WU]\PXMHP\ ]QDF]QLH JRUV]H U]HF]\ -D QD
SU]\NDGZ\SURVWRZDDFKXGHSOHF\QLHE\DPFKRUDDQLSU]H]MHGHQG]LH
ZFD\PVZRLP\FLX
6]F]HU]HPyZLFMDWHF]XMVLQLHQDMOHSLHMSRZLHG]LDDP
3U]HGHZV]\VWNLPGODWHJRHGU]ZLPRMHJRSRNRMXQLHGDRVL]DPNQRG
]HZQWU]QDNOXF]-DNQLHPDOZV]\VWNLHGU]ZLZW\PGRPXE\\]DRSDWU]RQH
ZVWDURPRGQ\U\JLHOVXF\W\ONRGR]DP\NDQLDVLRGURGND
0DPD]HUZDDVLRGVWRXSRGHV]DGRPQLHLSRR\DPLUNQDF]ROH
&LRWND*OHQGDSU]HZUyFLDRF]DPL
1RWDNFDD*ZHQGRO\Q3RSURVWXQLHPRH]QLHHSU]H]FKZLOQLH
]QDMGXMHVLZFHQWUXPXZDJL
:\GDMHVLFKRGQH0DPDGRWNQDPLNRFDQRVDMDNE\PPLDDSL
ODW $ WX MHVW VXFKH L FLHSH 7DN MDN SRZLQQR E\ 3RJDG]LD PQLH SR
ZRVDFK:ZHHNHQGEGFLPRJDSRUR]SLHV]F]DMHOLEG]LHV]FKFLDD
0RHP\]MHQLDGDQLHZyNX
2WDNLSRF]\WDV]QDPKLVWRULHR3LRWUXVLX)RSV\0RSV\LR]DMF]NX
MDNGDZQLHM]DZRDD
&DUROLQH NWyUD VLHG]LDD ] ZHQLDQ\P SURVLDF]NLHP QD NRODQDFK $
SRWHPQDNDUPLP\*ZHQQ\NDZDNDPLMDENDL]URELP\MHM]LPQHRNDG\
/DG\ $ULVWD SRR\D SODVWHUHN RJyUND QD WRFLH QD NWyU\P Z QDOH\W\P
SRU]GNXSLWU]\\VLMXVHUV]\QNDMDMHF]QLFDLSRPLGRU
E\ VL VWDR JG\E\ FKURQRJUDI ZSDG Z UFH 6WUDQLNyZ $OH QLH E\R UDG\
PXVLDDPSU]HWUZDWHQG]LHLPLHQDG]LHMHQLF]HJRVLQLHZ\GDU]\
:\VLDGDP SU]\VWDQHN ZF]HQLHM HE\ Z 6WDUEXFNV ]DUDG]L PRMHPX
]PF]HQLX
0RHV] PL ZOD WU]\ HVSUHVVR GR MHGQHJR FDUDPHO PDFFKLDWR"
VS\WDDPFKRSDND]DEDUHP
-HOLGDV]PLQXPHUVZRMHMNRPyUNLRGSRZLHG]LDV]F]HU]F]E\
3U]\MU]DDP VL PX RGURELQ XZDQLHM L PLOH SRHFKWDQD RGSRZLHG]LDDP
XPLHFKHP 0LD FLHPQH ZRV\ GR UDPLRQ L SU]\SRPLQD MHGQHJR ] W\FK
SU]\VWRMQLDNyZ]SHZQHJRIUDQFXVNLHJRILOPX
2F]\ZLFLH E\ SU]\VWRMQ\ W\ONR GR PRPHQWX Z NWyU\P SRUyZQDDP JR ]
*LGHRQHPFRQLHVWHW\XF]\QLDPQDW\FKPLDVW
2QD PD FKRSDND RGH]ZD VL NWR ]D PQ 7R E\ 5DSKDHO NWyU\
PUXJQ GR PQLH ]LHORQ\PL RF]DPL NLHG\ RGZUyFLDP VL GR QLHJR ]H
]PDUV]F]RQ\P F]RHP $ SR]D W\P MHVW GOD FLHELH ]D PRGD FR EH] WUXGX
PRHV] SR]QD SR V]NROQ\P PXQGXUNX 3RSURV] ODWWH L PXIILQN ]
MDJRGDPL
3U]HZUyFLDP RF]DPL L ] SU]HSUDV]DMF\P XPLHFKHP Z]LDP PRM
VSHFMDOQPLNVWXU
:SUDZG]LH QLH PDP FKRSDND DOH Z WHM FKZLOL MHVW SHZLHQ KP
SUREOHPF]DVRZ\=DS\WDMPQLHMHV]F]HUD]]DGZDODWD
'REUDRGSRZLHG]LDFKRSDN]DEDUHP
1DSHZQRWHJRQLH]URELU]XFL5DSKDHO=DRVLHS\WDRQXPHU
WHOHIRQXNDGDGQG]LHZF]\Q
3RSURVWXJR]RVWDZLDPDOHSRFKZLOLPQLHGRJRQL
+HM SRF]HNDM 3U]HSUDV]DP H SU]HV]NRG]LHP FL ZH IOLUFLH 1LHXIQLH
REHMU]DVZRMNDZ
7HQIDFHWQDSHZQRQDSOXPLGRNXEND
:]LDPVROLGQ\\NSDU]FVRELHMHGQRF]HQLHZDUJLM]\NLJDUGR.LHG\
]QRZX PRJDP ]HEUD P\OL ]DVWDQRZLDP VL F]\ QLH OHSV]\P Z\MFLHP
E\RE\SRGDZDNDZGR\OQLH
%\HP ZF]RUDM Z NLQLH ] W &HOL ] QDV]HM NODV\ RSRZLDGD 5DSKDHO
ZLHWQDG]LHZF]\QD
1LHZLDU\JRGQLHDGQDL]DEDZQD1LHVG]LV]"
+" SU\FKQDP ] QRVHP Z POHF]QHM SLDQFH ZS\Z ;HPHULXVD QD
PQLHSRZROL]DF]\QDE\ZLGRF]Q\
&DNLHP QLHOH VL EDZLOLP\ FLJQ $OH OHSLHM QLH RSRZLDGDM R W\P
/HVOLHERPRJDE\E\]D]GURVQD
5R]HPLDDPVL-DNVRGNRFKFLDPQPDQLSXORZD
2NHM%GPLOF]HMDNJUyE
7RXZDDV]HQDSUDZGPRJDE\E\]D]GURVQD"VS\WD]R\ZLHQLHP
5DSKDHO
1RRF]\ZLFLH6WUDV]OLZLH]D]GURVQD7\PEDUG]LHMHZQDV]HMNODVLHQLH
PD&HOLL
6SHV]RQ\5DSKDHOSRGUDSDVLSRQRVLH
$WDEORQG\QND"2GLPSUH]\"
&\QWKLD
1DSUDZGE\HP]QLZNLQLHSRZLHG]LDDRQLH6]NROQ\PXQGXUHN
]QLHV]F]VQ\PSRF]HQLHPVPXWQHMyFLLJUDQDWXZ\JOGDQDQLPMHV]F]H
PQLHM NRU]\VWQLH QL QD QDV 6SRVyE Z MDNL SU]HVXQ UN SR ZRVDFK
SU]\SRPQLDPL
1LFNDLREXG]LWNOLZHXF]XFLD8ZDDDPHQDOH\PXVLQDJURGD]DWR
HQLH]DFKRZ\ZDVLWDNEXWQLHLDURJDQFNRMDNMHJRVWDUV]\EUDW
3RZLHPWR/HVOLHZGHOLNDWQ\VSRVyEGREU]H"]DSURSRQRZDDP
8PLHFKQVL]Z\VLNLHP
$OH QLH PyZ MHM H SRP\OLHP LPL DFK QDMOHSLHM QLF MHM QLH PyZ D
PRHMHGQDN
-XMDVLW\P]DMP'RWNQDPMHJRNUDZDWD1RLSDWU]JUDWXODFMH
']LMHVWGREU]H]DZL]DQ\
&LQG\JR]DZL]DDSRZLHG]LD5DSKDHO]NU]\Z\PXPLHV]NLHP&]\
MDNWDPRQDPDQDLPL
1D SLHUZV]HM OHNFMLPLHOLP\ DQJLHOVNL ] SDQHP :KLWPDQHP ,QIRUPDFMR
FKRURELH&KDUORWW\SU]\MNLZDMFJRZFKRQLHPRJDPVLSRZVWU]\PD
E\SU]\VRZLHFKRUDQLHQDU\VRZDSDOFDPLZSRZLHWU]XFXG]\VRZX
7U]HED JR E\R Z]L ]H VRE V]HSQD /HVOLH SRGF]DV JG\ SDQ
:KLWPDQUR]GDZDSRSUDZLRQHZ\SUDFRZDQLD]]HV]HJRW\JRGQLD
]DDQJDRZDQLD1DV]HZ\SUDFRZDQLD]OHNNLPNODQLFLHPXGHU]\\REODW
VWRX 1LHFR ZLFHM SUDF\ QDG 6]HNVSLUHP GREU]H ]URELRE\ ZDV]\P
Z\SUDFRZDQLRP1LHVWHW\V]DOHGZLHSU]HFLWQH
&LHNDZH ] MDNLHJR SRZRGX PUXNQDP UR]]RV]F]RQD %H]F]HOQR
1DMSLHUZ SRZLFLDP FD\ VZyM ZROQ\ F]DV QD SRGUyH Z F]DVLH
SU]\PLHU]DQLH NRVWLXPyZ L QDXN WDFD D WHUD] PXVLDDP MHV]F]H
Z\VXFKLZDHQLHZ\VWDUF]DMFRVWDUDPVLZV]NROH
&KDUORWWD SRND]DD FL SU]HFLH H PRQD GRVNRQDOH SRF]\ MHGQR ]
GUXJLP *ZHQGRO\Q SRZLHG]LD SDQ :KLWPDQ MDNE\ F]\WD Z PRLFK
P\ODFK 0D GRVNRQDH VWRSQLH , QLJG\ VL QLH VNDU\ 0RJDE\ EUD
SU]\NDG]MHMVDPRG\VF\SOLQ\
6SRMU]DDPQDQLHJR]\PZ]URNLHP
/HVOLHSRSU]\MDFLHOVNXGDDPLNXNVDFDZERN
.LHG\ SRZLHP\ WHM EH]F]HOQHM :LHZLyUFH FR R W\P P\OLP\ 1DMSyQLHM
ZWHG\NLHG\VNRF]\P\V]NR']LVLDMWRE\DE\F]\VWDVWUDWDHQHUJLL
7DNPDV]UDFM:NRFXSRWU]HEXMFDHMPRMHMHQHUJLLHE\QLH]DVQ
1DJOH PXVLDDP ]LHZQ 1LHFK WR SRWUyMQH HVSUHVVR ZUHV]FLH
SU]HGRVWDQLHVLGRPRMHJRNUZLRELHJX
/HVOLHHQHUJLF]QLHVNLQDJRZ
2NHMDSRWHPNRQLHF]QLHPXVLP\SRP\OHMDNPRHV]VLZ\NUFLRG
EDOX
$OH QLH PRH SDQL E\ FKRUD Z\NU]\NQ SDQ 0DUOH\ L ]UR]SDF]RQ\
]DDPD UFH 3U]HFLH ZV]\VWNR MHVW SU]\JRWRZDQH 1LH ZLHP MDN PDP
SU]HND]DWRFDHMUHV]FLH
7RQLHSDQDZLQDH]DFKRURZDDPSRZLHG]LDDPPDWRZ\PJRVHPL]
WUXGHP Z\JUDPROLDP VL ] OLPX]\Q\ 0RMD WH QLH 6LD Z\V]D L QLF QLH
PRQDQDWRSRUDG]L
$OH PRQD 0RQD $ QDZHW WU]HED 3DQ 0DUOH\ VSRMU]D QD PQLH ]
REXU]HQLHP:FDOHQLHZ\JOGDSDQLQDDWDNFKRUGRGDFRE\RGR
QLHXF]FLZHERSU]HPRJDPZDVQSUyQRL]P\DPNRUHNWRUPDP\
/HVOLH ]DVWDQDZLDD VL MHV]F]H F]\ QLH ZVSRPyF PQLH WURFK V]DU\P L
OLOLRZ\P FLHQLHP GR SRZLHN DOH SU]\MU]DZV]\ PL VL VFKRZDD NRVPHW\F]N
GR WRUE\ :RUNL SRG PRLPL RF]DPL QDW\FKPLDVW GRVWD\E\ URO Z NDG\P
ILOPLHRZDPSLUDFKE\DPWHWUXSLREODGD
1RWDNDOHSU]HFLHFKRG]LQLHRWRQDMDNEDUG]RFKRUZ\JOGDPOHF]
H QDSUDZG MHVWHP FKRUD SRZLHG]LDDP L ZFLVQDP SDQX 0DUOH\RZL GR
UNLPRMWRUE%\DPWDNDFKRUDLWDNDVDEDZGURG]HZ\MWNXPyJPLM
SRQLH 0\O H Z WDNLFK RNROLF]QRFLDFK PRQD SU]HVXQ Z\MFLH QD
EDO
:\NOXF]RQH NU]\NQ SDQ 0DUOH\ L ]DUD] SRWHP XGHU]\ VL RWZDUW
GRQL Z XVWD L UR]HMU]D VL Z\VWUDV]RQ\ &]\ SDQL ZLH LOH NRV]WRZD\
SU]\JRWRZDQLD" PyZL V]HSWHP SRGF]DV JG\ REUDOLP\ NXUV QD NZDWHU
JyZQ-DOHGZLHGUHSWDDP]DWHPSRVXZDOLP\VLEDUG]RSRZROL
1LH E\R DWZR X]\VND ]JRG G\UHNWRUD ZDV]HM V]NR\ QD WR HE\
DPDWRUVNL]HVSyWHDWUDOQ\X\
3LZQLF\ $UW\VW\F]QHM MDNR VDOL SUyE ']LVLDM $ KUDELD GH 6DLQW *HUPDLQ
Z\UDQLHRNUHOLH
3DQ 0DUOH\ ]DF]\QD JUD PL QD QHUZDFK DPDWRUVNL ]HVSy WHDWUDOQ\" ,
G\UHNWRU*LOOHV"1LHUR]XPLDDPDQLVRZD
1LHFK SDQ SRVXFKD MHVWHP FKRUD &KRUD :]LDP MX WU]\ DVSLU\Q\
DOH QLH SRPRJ\ :UF] SU]HFLZQLH MHVW FRUD] JRU]HM 0DP WH JRUF]N ,
EUDN PL WFKX $E\ GRGD ZLDU\JRGQRFL PRLP VRZRP XF]HSLDP VL
SRUF]\VFKRGyZL]DF]DPFLNRG\V]H
-XWURSDQLPRH]DFKRURZDMXWURMXWURMNQSDF]OLZLHSDQ0DUOH\
3DQLH *HRUJH 1LHFK SDQ MHM SRZLH H PRH ]DFKRURZD GRSLHUR MXWUR Z
SU]HFLZQ\PUD]LHFD\SODQ]RVWDQLH]QLZHF]RQ\
-HVWH FKRUD *ZHQGRO\Q" 3DQ *HRUJH NWyU\ SRMDZL VL Z GU]ZLDFK
REMPQLHWURVNOLZLHUDPLHQLHPLZSURZDG]LGREXG\QNX
7DNE\RMXOHSLHM6NLQDPJRZ]H]ERODPLQ
3HZQLH ]DUD]LDP VL RG &KDUORWW\ &KD FKD FKD :DQLH 2ELH
FLHUSLD\P\QDWVDPZ\P\ORQJU\S-DNV]DOHWRV]DOH*RZDPL
SND
7RVLEDUG]ROHVNDGDSRZLHG]LDSDQ*HRUJH
3UyEXM MHM WR SU]H] FD\ F]DV X]P\VRZL GRU]XFL SDQ 0DUOH\ NWyU\
UDQRSRGD]DQDPL
-HJR WZDU] E\D GOD RGPLDQ\ QLH F]HUZRQD MDN EXUDN OHF] XVLDQD ELDR
F]HUZRQ\PL SODPDPL MDNE\ QLH PyJ VL ]GHF\GRZD NWyU\ NRORU MHVW
RGSRZLHGQL GR WHM V\WXDFML 'RNWRU :KLWH QD SHZQR PRH GDMHM ]DVWU]\N
0XVLZ\WU]\PDW\ONRSDUJRG]LQ
7DNWRE\RE\MDNLHZ\MFLH]JRG]LVLSDQ*HRUJH
=HUNQDP QD QLHJR QLHSHZQLH 2G SDQD *HRUJH
D RF]HNLZDDE\P QLHFR
ZLFHMHPSDWLLLSRPRF\
3RZROL ]DF]\QDDP QDSUDZG OH VL F]X DOH UDF]HM ]H VWUDFKX 0LDDP
QLHMDVQH
:UDHQLH H 6WUDQLF\ QLH REHMG VL ]H PQ XSU]HMPLH NLHG\ VL
]RULHQWXMHXGDM$OHWHUD]E\RMX]DSyQRQLHPRJDPVLZ\FRID
=DPLDVW GR SUDFRZQL PDGDPH 5RVVLQL JG]LH ZDFLZLH SRZLQQDP VL
SU]HELHUD Z RVLHPQDVWRZLHF]QH VXNQLH SDQ *HRUJH ]DSURZDG]L PQLH GR
6PRF]HM6DOLDSDQ0DUOH\ZFLMHV]F]HQLRVFPRMWRUEL]HZ]EXU]HQLHP
UR]PDZLDMFVDP]HVRESRV]HG]DQDPL
'RNWRU :KLWH )DON GH 9LOOLHUV SDQ :KLWPDQ L MHV]F]H MHGHQ PF]\]QD
NWyUHJR QLH ]QDDP PRH WR E\ PLQLVWHU ]GURZLD" VLHG]LHOL ZRNy VWRX
.LHG\ SDQ *HRUJH ZHSFKQ PQLH GR VDOL ZV]\VF\ RGZUyFLOL JRZ\ Z VWURQ
GU]ZLL]DF]OLVLQDQDVJDSL0yMG\VNRPIRUWZ]UyV
2QD PyZL H MHVW FKRUD Z\U]XFL ] VLHELH SDQ 0DUOH\ NWyU\
ZPDV]HURZD]DQDPL
)DONGH9LOOLHUVSRGQLyVVL]PLHMVFD
1LHFK SDQ QDMSLHUZ ]DPNQLH GU]ZL 0DUOH\ $ WHUD]MHV]F]H UD] .WRMHVW
FKRU\"
1RRQD3DQ0DUOH\RVNDU\FLHOVNRZ\VXQZPRMVWURQZVND]XMF\
SDOHFDMDRVWDWNLHPVLOSRZVWU]\PDDPVLHE\QLHSU]HZUyFLRF]DPL
3DQ *HRUJH SXFL PQLH VWNDMF XVLDG QD ZROQ\P NU]HOH L RWDU
FKXVWHF]NSRW]\VLQ\
7DN*ZHQGRO\QQLHF]XMHVLGREU]H
1DSUDZGEDUG]RPLSU]\NURSRZLHG]LDDPVWDUDQQLHXZDDMFQDWR
HE\SDWU]HQDSUDZRLZGy3RGREQRZV]\VF\OXG]LHJG\NDPLSDWU]Z
OHZRLGRJyU\JG]LHRW\PF]\WDDP1LHF]XMVLQDVLDFKLG]LVLDMQD
WHQEDO/HGZLHWU]\PDPVLQDQRJDFKLMHVWFRUD]JRU]HM1DSRWZLHUG]HQLH
PRLFKVLyZZVSDUDPVLQDRSDUFLXNU]HVDSDQD*HRUJH
D
'RSLHURWHUD]]DXZD\DPH*LGHRQWDNHMHVWREHFQ\LPRMHVHUFHSU]H]
NLONDWDNWyZV]DOHF]RWXNRVLZSLHUVL
7R WDNLH QLHVSUDZLHGOLZH H Z\VWDUF]\ VDP MHJR ZLGRN HE\P VWUDFLD
RSDQRZDQLHSRGF]DVJG\RQFDNLHPVZRERGQLHVWDVRELHRERNNRPLQND]
UNDPL ZELW\PL JERNR Z NLHV]HQLH GLQVyZ L SR SURVWX VL GR PQLH
XPLHFKD1RGREUDWRQLHE\EH]F]HOQ\V]HURNLSURPLHQQ\XPLHFKOHF]
W\ONR OHNNR XQLHVLRQH NFLNL XVW ]D WR MHJR RF]\ VL PLD\ L ] MDNLHJR
SRZRGXQDJOH]QRZXSRF]XDPNOXFKZJDUGOH
6]\ENR RGZUyFLDP Z]URN L Z RJURPQ\P NRPLQNX GRVWU]HJDP PDHJR
5REHUWDV\QDGRNWRUD
:KLWH
D NWyU\ MDNR VLHGPLRODWHN XWRSL VL Z EDVHQLH 1D SRF]WNX WHQ
PD\ GXFK E\ RQLHPLHORQ\ DOH ] F]DVHP QDEUD GR PQLH ]DXIDQLD 7HUD]
SRPDFKD]]DFKZ\WHPDOHMDPRJDPW\ONRV]\ENRVNLQJRZ
$FyWR]DQDJDLQLHRF]HNLZDQDFKRUREDMHOLZROQRPLVS\WD"3DQ
:KLWPDQ]PLHU]\PQLHGUZLF\PVSRMU]HQLHP'RSLHURFRZV]NROHE\D
]GURZD MDN U\ED 6NU]\RZD UFH QD SLHUVL DOH SRWHP QDMZ\UDQLHM VL
]PLW\JRZD L ]PLHQL WDNW\N 7HUD] XGHU]\ Z PLNNL WRQ ]DXIDQHJR
QDXF]\FLHOD EDUG]R DJRGQ\ L ZVSyF]XMF\ =QDDP WR WDNL WRQ U]DGNR
R]QDF]DFRGREUHJR-HOLERLV]VLF]HJRZ]ZL]NX]EDOHP*ZHQGRO\Q
UR]XPLHP\WR0RHGRNWRU:KLWHGDFLFRQDWUHP
)DONVNLQJRZ
1DSUDZGQLHPRHP\SU]HVXQG]LVLHMV]HJRWHUPLQXSRZLHG]LD
3DQ:KLWPDQPDUDFMZWUFLSDQ*HRUJH7R]XSHQLHQRUPDOQHH
PDV] WUHP 7H E\E\P ]GHQHUZRZDQ\ QD WZRLP PLHMVFX 7R DGHQ SRZyG
GRZVW\GX
,QLHMHVWHVDPDX]XSHQL)DON*LGHRQFD\F]DVEG]LH]WRE
&KR ZFDOH WHJR QLH FKFLDDP V]\ENR SRSDWU]\DP QD *LGHRQD L UyZQLH
V]\ENRRGZUyFLDPJRZNLHG\QDV]HVSRMU]HQLDVLVSRWND\
=DQLPVLREHMU]\V]Z\OGXMHV]WX]SRZURWHPLEG]LHV]PLDDZV]\VWNR
]DVREPyZLGDOHM)DON
7HJR E\R ]D ZLHOH 6SRMU]DDP QD QLHJR ] REXU]HQLHP DOH RQ V]\ENR
FKZ\FLRELHPDGRPLPRMJRZLREPDFDPLV]\MRGXV]XDGRUDPLRQ
1DNRQLHFSRR\UNQDF]ROH2GZDJDPQLHRSXFLD
+P PUXNQ D MHJR PLQD R LOH WR E\R PROLZH VWDD VL MHV]F]H
EDUG]LHMFKPXUQD2EU]PLDHZ]\FKRQQHSRGZ\V]RQDWHPSHUDWXUD7R
QDSUDZGQLHZ\JOGDGREU]H3URV]RWZyU]XVWD
*ZHQGRO\Q=DVNRF]RQDSRVXFKDDPMHJRSROHFHQLD
2EU]PLDH
Z]\
FKRQQH"
3RGZ\V]RQD
WHPSHUDWXUD"
&]\E\P
]DFKRURZDD]VDPHJRSU]HUDHQLD"L7DNMDNP\ODHP:\M]NLHV]HQL
QD SLHUVL GUHZQLDQ V]SDWXN L SU]\FLVQ PL QLM]\N &]HUZRQH JDUGR
PLJGDNL SRZLNV]RQH QLF G]LZQHJR H OH VL F]XMHV] 0XVL FL SLHNLHOQLH
EROHSU]\SU]H\NDQLX
%LHGDFWZR SRZLHG]LD ]H ZVSyF]XFLHP 5REHUW 7HUD] EG]LHV] QD
SHZQRPXVLDDSLRK\GQ\V\URSQDNDV]HO6NU]\ZLVL
0DV]GUHV]F]H"VS\WDMHJRRMFLHF
1LHSHZQLH VNLQDP JRZ 'ODF]HJR X GLDED RQ WR UREL" 'ODF]HJR PL
SRPDJD",WRZDQLHGRNWRU:KLWHNWyU\]DZV]H]DFKRZ\ZDVLWDNMDNE\P
PLDDZ\NRU]\VWDSLHUZV]OHSV]RND]MHE\GDQRJ]FKURQRJUDIHP"
7DNP\ODHP*RUF]NDMHV]F]HZ]URQLH'RNWRU:KLWHRGZUyFLVLZ
VWURQSR]RVWD\FK
7DN7RPLZ\JOGDQDLQIHNFMZLUXVRZ
:V]\VF\]URELOL]DNRSRWDQHPLQ\=PXVLDPVLHE\QLHSDWU]HZVWURQ
*LGHRQDFKRFLDVWUDV]QLHFKFLDDP]REDF]\MHJRWZDU]
&]\PRHV]MHMFRQDWRGD-DNH"VS\WD)DONGH9LOOLHUV
1DMZ\HMURGHNQD]ELFLHWHPSHUDWXU\$OHQLFFRV]\ENRSRVWDZLRE\M
QDQRJL0XVLOHHZ
yNX 'RNWRU :KLWH ]PLHU]\ PQLH SRQXU\P Z]URNLHP -HOL PD
V]F]FLH MHVW WR W\ONR MHGQRGQLRZD JRUF]ND WD NWyUD WHUD] V]DOHMH $OH
UyZQLHGREU]HPRHWHSRWUZDSDUGQL
3U]HUZD
0LPRWRPRHP\M]DF]SDQ:KLWPDQ
1LHQLHPRHP\SU]HUZDPXQLHXSU]HMPLHGRNWRU:KLWH6WDUDDPVL
]H ZV]\VWNLFK VL QLH JDSL VL QD QLHJR MDN QD yVP\ FXG ZLDWD *LGHRQ
UDF]HM QLH PRH MHM ]DZLH QD EDO QD Zy]NX LQZDOLG]NLP 7R
QLHRGSRZLHG]LDOQHLE\RE\WH]DPDQLHP]RWHM]DVDG\JG\E\P\MZ\VDOL
GRRVLHPQDVWHJRZLHNX]RVWULQIHNFMZLUXVRZ
&R SUDZGD WR SUDZGD SRZLHG]LD QLH]QDMRP\ NWyUHJR X]QDDP ]D
PLQLVWUD ]GURZLD 1LH ZLDGRPR MDN ]DUHDJRZDE\ XNDG RGSRUQRFLRZ\
W\FKOXG]LQDG]LVLHMV]HJRZLUXVD7RPRJRE\PLHNDWDVWURIDOQHVNXWNL
-DNZWHG\X0DMyZPUXNQSDQ*HRUJH)DONJERNRZHVWFKQ
1RFyDZLFGHF\]MDUDF]HM]DSDGD*LGHRQL*ZHQGRO\QQLHSyMGG]L
QD EDO %\ PRH Z ]DPLDQ ]D WR PRJOLE\P\ SU]HSURZDG]L RSHUDFM RSDO
0DUOH\F]\PyJE\SDQSRLQIRUPRZDSR]RVWD\FKR]PLDQLHSODQyZ"
7DNMHVW3DQ0DUOH\JQFVLZXNRQLHSRVSLHV]\GRGU]ZL
6SRMU]HQLH MDNLP PQLH REGDU]\ E\R NZLQWHVHQFM Z\U]XWX $OH QLH
SU]HMDPVLW\P
1DMZDQLHMV]HHXGDRVLSU]HVXQEDO:FLMHV]F]HQLHPRJDPSRM
PHJRV]F]FLD
7HUD] ]DU\]\NRZDDP L ]HUNQDP QD *LGHRQD : SU]HFLZLHVWZLH GR
SR]RVWD\FK RGRHQLH QDV]HM Z\FLHF]NL QDMZ\UDQLHM PX QLH SU]HV]NDG]DR
ERXPLHFKQVLGRPQLH&]\SRGHMU]HZDHPRMDFKRUREDMHVWXGDZDQD"
&]\ W\ONR SR SURVWX VL FLHV]\ H RV]F]G]RQR PX QD G]LVLDM XFLOLZ\FK
SU]HELHUDQHN" 6WXPLDP Z VRELH SRNXV ]UHZDQRZDQLD VL XPLHFKHP L
SU]HQLRVDPZ]URNQDGRNWRUD:KLWH
DNWyU\VWDRERNPLQLVWUD]GURZLD
-DNH FKWQLH SRUR]PDZLDDE\P ] QLP Z F]WHU\ RF]\ $OH OHNDU]
QDMZ\UDQLHM ]XSHQLH R PQLH ]DSRPQLD ER EH] UHV]W\ SRJURQ\ E\ Z
UR]PRZLH
&KRG *ZHQGRO\Q XV\V]DDP ZVSyF]XMF\ JRV SDQD *HRUJH
D
=DSURZDG]FLV]\ENRQDHODSVMDSRWHPEG]LHV]PRJDZUDFDGRGRPX
6NLQDPJRZ=DEU]PLDRWRMDNKDVRGQLD
3RGUyZF]DVLHSU]\X\FLXFKURQRJUDIXPRHWUZDRGVHNXQGGR
PLQXW-HOLFKRG]LRRSDODNZDPDU\QF\WU\QMDGHLWV]DILULUXELQPLQLPDOQH
XVWDZLHQLDZ\QRV]VHNXQGPDNV\PDOQHPLQXW$E\XQLNQ
QLHNRQWURORZDQ\FKSU]HVNRNyZZF]DVLHQRVLFLHOHJHQyZSRZLQQLFRG]LHQQLH
SRGGDZDVLHODSVMLSU]H]PLQXW-HOLF]DVWHQQLH]RVWDQLHRVLJQLW\
ZFLJXJRG]LQPRHGRMGRQLHNRQWURORZDQ\FKSU]HVNRNyZ]RE
SURWRNR\]SRGUy\ZF]DVLH
VW\F]QLDURNXOXWHJRURNX7LPRWK\GH9LOOLHUV:HGXJ
EDGDHPSLU\F]Q\FKKUDELHJRGH6DLQW*HUPDLQZODWDFK
SRVLDGDF]JHQXPRHSRGGDZDVLHODSVMLSU]\X\FLXFKURQRJUDIX
PDNV\PDOQLHSU]H]SLLSyOJRG]LQ\WR]QDF]\PLQXWG]LHQQLH-HOL
F]DVWHQ]RVWDQLHSU]HNURF]RQ\Z\VWSXMEyOHJRZ\PGRFLLRVDELHQLH
MDNUyZQLHVLOQH]DEXU]HQLD]GROQRFLSRVWU]HJDQLDLNRRUG\QDFMLUXFKRZHM
3RWZLHUG]LOLWREUDFLDGH9LOOLHUVZWUDNFLHWU]HFKSRGREQLHVNRQVWUXRZDQ\FK
DXWRHNVSHU\PHQWyZ
.URQLNL6WUDQLNyZWRP,,,
5R]G]LD0LVWHULDFKURQRJUDIX
5R]G]LD
-HV]F]H QLJG\ HODSVMD QLH E\D GOD PQLH WDN NRPIRUWRZD MDN WHJR
SRSRXGQLD 'DQR PL NRV] ] NRFDPL WHUPRV ] JRUF KHUEDW KHUEDWQLNL
RF]\ZLFLH L GUREQR SRNURMRQH RZRFH Z SXGHNX QLDGDQLRZ\P 3UDZLH
PLDDP Z\U]XW\ VXPLHQLD Z\FLJDMF VL Z\JRGQLH QD ]LHORQHM VRILH 7\ONR
SU]H]FKZLO]DVWDQDZLDDPVLF]\QLH]DEUDNOXF]D]WDMQHMNU\MyZNLLQLH
XGD VL QD JyU DOH Fy E\ WR PLDR GD SUyF] GRGDWNRZ\FK NRPSOLNDFML L
U\]\ND H ]RVWDQ ]DSDQD" =QDMGRZDDP VL JG]LH Z URNX R
GRNDGQ GDW QLH ]DS\WDDP ER SU]HFLH PXVLDDP RGJU\ZD DSDW\F]Q L
FKRUQDJU\S
3R GHF\]ML )DOND R ]PLDQLH SODQyZ ]DSDQRZD ZUyG 6WUDQLNyZ
JRUF]NRZ\ SRSLHFK : NRFX Z\VDQR PQLH ] QLH]E\W XV]F]OLZLRQ\P
SDQHP0DUOH\HPGRSRPLHV]F]HQLD]FKURQRJUDIHP
%\R SR QLP ZLGD H ]QDF]QLH EDUG]LHM ZRODE\ E\ QD QDUDG]LH QL
]DMPRZDVLPQ1LHPLDDPZLFRGZDJL]DS\WDJRRRSHUDFMRSDOLW\ONR
JDSLDP VL SU]HG VLHELH UyZQLH PLOF]FR MDN RQ : FLJX RVWDWQLFK GQL
QDV]HUHODFMHZ\UDQLHXFLHUSLD\DOHSDQ0DUOH\E\RVWDWQLRVRERNWyU
E\PVLPDUWZLD
: URNX ]MDGDP QDMSLHUZ RZRFH SRWHP KHUEDWQLNL L ZUHV]FLH
Z\FLJQDP VL QD VRILH RSDWXORQD NRFDPL 0LPR QLHSU]\MHPQHJR ZLDWD
MDNLH U]XFDD DUyZND SRG VXILWHP QLH PLQR SL PLQXW D MX VSDDP
PRFQR L JERNR 1LH PRJD PQLH SU]HG W\P SRZVWU]\PD QDZHW P\O R
GXFKXEH]JRZ\NWyU\SRGREQRVWUDV]\QDGROH:\SRF]WDREXG]LDPVL
DNXUDW Z SRU SU]HG SRZURWQ\P SU]HVNRNLHP L FDH V]F]FLH ER LQDF]HM
UEQDE\PZSURVWSRGQRJLSDQD0DUOH\D
: F]DVLH JG\ SDQ 0DUOH\ NWyU\ SU]\ZLWD PQLH W\ONR OHNNLP VNLQLHQLHP
JRZ\ ZSLV\ZD UDSRUW GR G]LHQQLND SUDZGRSRGREQLH FR Z VW\OX
'HIHW\VWNDUXELQ]DPLDVWVSHQLDVZRMHRERZL]NLRELMDDVLZURNX
L DUD RZRFH VS\WDDP JR F]\ GRNWRU :KLWH MHV]F]H WX MHVW .RQLHF]QLH
FKFLDDP ZLHG]LH GODF]HJR QLH ]GHPDVNRZD PRMHM FKRURE\ MDNR
V\PXODQFWZD
1LH PD WHUD] F]DVX ]DMPRZD VL SDQL EROHFLDPL FKRUREDPL RGSDU
SDQ 0DUOH\ : WHM FKZLOL ZV]\VF\ Z\UXV]DM GR PLQLVWHUVWZD REURQ\ QD
RSHUDFM RSDO 6RZD $ PQLH SU]\ W\P QLH PD Z\UDQLH ZLVLD\ Z
SRZLHWU]XMDNE\MHZ\SRZLHG]LD
0LQLVWHUVWZR REURQ\" 2 FR WX FKRG]L" 2EUDRQHJR 3DQD .DV]DQNL UDF]HM
QLHE\RVHQVXRWRS\WDERPLDWDNLKXPRUHQDSHZQRQLF]HJRE\PLQLH
]GUDG]L &K\ED SRVWDQRZL VRELH H OHSLHM Z RJyOH QLH EG]LH ]H PQ
UR]PDZLD &]XENDPL SDOFyZ ]DZL]D PL FKXVWN QD RF]DFK L EH] VRZD
SRSURZDG]L SU]H] ODELU\QW SLZQLF]Q\FK NRU\WDU]\ ] MHGQ UN QD PRLP
RNFLXDGUXJZWDOLL=NDG\PNURNLHPWHQIL]\F]Q\NRQWDNWVWDZDVLGOD
PQLH FRUD] EDUG]LHM QLHSU]\MHPQ\ ]ZDV]F]D H MHJR UFH E\\ FLHSH L
VSRFRQH 1LH PRJDP VL MX GRF]HND HE\ MH ] VLHELH VWU]VQ JG\
ZUHV]FLH ZVSLOLP\ VL QD NUFRQH VFKRG\ SURZDG]FH QD SDUWHU
:]G\FKDMF ]GMDP ] RF]X RSDVN L RZLDGF]\DP H VWG VDPD WUDIL GR
OLPX]\Q\
1LH ]H]ZROLHP MHV]F]H QD WR ]DSURWHVWRZD SDQ 0DUOH\ $ SR]D W\P
PRLP]DGDQLHPMHVWRGSURZDG]LSDQLDGRGU]ZLGRPX
1LHFKSDQGDVSRNyM=UR]GUDQLHQLHPPDFKQDPUNZMHJRVWURQ
NLHG\ V]\NRZD VL HE\ ]QRZX ]DZL]D PL RF]\ 5HV]W GURJL L WDN MX
]QDP $ MHOL NRQLHF]QLH FKFH SDQ WRZDU]\V]\ PL D GR GU]ZL GRPX WR QD
SHZQRQLH]UNQDPRMHMWDOLL=QRZXUXV]\DPGRSU]RGX
3DQ0DUOH\SRVSLHV]\]DPQVDSLF]REXU]HQLD
3DQL]DFKRZXMHVLWDNMDNE\PZDQLHGRWNQSDQLQLHRE\F]DMQLH
7DN]JDG]DVLSRZLHG]LDDPFKFFJR]GHQHUZRZD
$ZLFWRMHVWWRMHVWQDSUDZGNU]\F]DSDQ0DUOH\DOHMHJRNU]\N
]RVWD]DJXV]RQ\F]\LPZU]DVNLHP]VLOQ\PIUDQFXVNLPDNFHQWHP
1LHFKSDQVLQLHZD\Z\FKRG]LEH]WHJRNRQLHU]DPRG\F]RZLHNX
=QDMGXMFHVLSU]HGQDPLGU]ZLGRSUDFRZQLPDGDPH5RVVLQLRWZRU]\\VL
]KXNLHPLZ\SDG]QLFK*LGHRQDWX]DQLPUR]JQLHZDQDPDGDPH5RVVLQL
7U]HSRWDDUNDPLLWU]\PDQ\PZQLFKELD\PPDWHULDHP
3URV] WX ]RVWD &]\ SDQ VG]L H XV]\DP WHQ NRQLHU] GOD ZDVQHM
SU]\MHPQRFL"
8MU]DZV]\QDV*LGHRQVL]DWU]\PD-DWHVWDQDPDOHQLHVWHW\QLHWDN
VZRERGQLH UDF]HM MDN VXS VROL , WR QLH GODWHJR H ]DVNRF]\ PQLH MHJR
G]LZQ\ ZDWRZDQ\ VXUGXW Z NWyU\P UDPLRQD PLD MDN DWOHWD QD NRNVLH OHF]
GODWHJR H Z F]DVLH NDGHJR ] QDV]\FK VSRWND QLH XPLDDP UREL QLF
LQQHJRMDNW\ONRVLJDSL,F]XSU]\VSLHV]RQHELFLHVHUFD
$NXUDWPLDE\PRFKRWSDQLGRW\ND5RELWRW\ONRGODWHJRHPXV]
ZU]HV]F]D]DPQSDQ
0DUOH\
*LGHRQXQLyVMHGQEUHZLXPLHFKQVLGUZLFR
=UHZDQRZDDP
VL
WDNLP
VDP\P
XPLHV]NLHP
MDN
QDMZROQLHM
/ODQIDLUSZOOJZ\QJ\OOJRJHU\FKZ\UQGUREZOOOODQW\VLOLRJRJRJRFK
&LRFLX0DGG\MDFKFW\ONRZLHG]LHF]\
7DN WDN WDN *RVSRG\QL QD]\ZDD VL *ODGLROD /DQJGRQ L QD SRF]WNX
ODW G]LHZLG]LHVLW\FK ]DMPRZDD SRNyM WZRMHM PDP\ ZSDGD PL Z VRZR
FLRFLD0DGG\=G]LZLRQDFR"
7ZRMD FLRFLD PD ERZLHP ZEUHZ SRZV]HFKQLH SDQXMFHM RSLQLL
IDQWDVW\F]QLHIXQNFMRQXMF\Py]J
5HV]WD SRNRL WX QD JyU]H E\D X\ZDQD W\ONR RG F]DVX GR F]DVX MDNR
SRNRMHJRFLQQHDSR]DW\PVWD\SXVWH*ODGLRODPLDDGRV\NLHSVNLVXFK
0RHV] ZLF EH] REDZ ZVLDGD GR VZHJR ZHKLNXX F]DVX L Z\F]RJD VL ]
QLHJRGRSLHURZURNX=DFKLFKRWDD*ODGLROD/DQJGRQ
1LJG\ QLH ]DSRPQ MHM V]DUORWNL 3RF]FLZLQD QLH Z\NUDZDD JQLD]G
QDVLHQQ\FK
0DPD PLDD SHZQH Z\U]XW\ VXPLHQLD Z ]ZL]NX ] PRM U]HNRP JU\S
)DON GH 9LOOLHUV ]DG]ZRQL GR QLHM SR SRXGQLX L SU]HND]D ]DOHFHQLD GRNWRUD
:KLWH
D OHHZ yNX L SL GXR JRUF\FK S\QyZ6WR UD]\ SRZWDU]DDMDN
MHM SU]\NUR H PL QLH XZLHU]\D L ZDVQRUF]QLH Z\FLVQD GOD PQLH WU]\
F\WU\Q\ 3RWHP SU]H] Sy JRG]LQ\ VLHG]LDD SU]\ PRLP yNX HE\ VL
XSHZQL H ZV]\VWNR Z\SLDP 3RQLHZD QLHFR ]E\W JRQR V]F]NDDP
]EDPL RWXOLD PQLH GZLHPD GRGDWNRZ\PL NRGUDPL D QD VWRS\ SRR\D
WHUPRIRU
-HVWHPZ\URGQPDWNSRZLHG]LDDLSRJDVNDDPQLHSRJRZLHWR
MHV]F]HWHUD]NLHG\MHVWFLWDNFLNR
1RFyPLDDUDFM,WRQLHW\ONRGODWHJRHF]XDPVLMDNZVDXQLHDQD
PRLP EU]XFKX SHZQLH PRQD E\ VPD\ MDMND 6DG]RQH 3U]H] VHNXQG
SR]ZROLDPVRELHSDZLVLZHZVSyF]XFLXGODVLHELH
1LH MHVWH Z\URGQ PDWN PDPR ]DSU]HF]\DP 0DPD Z\JOGDD QD
MHV]F]HEDUG]LHM]DWURVNDQMHOLWRZRJyOHE\RPROLZH
0DPRJURPQQDG]LHMHFLRSWDQLWDMHPQLF]\VWDUF\QLHNDFLUREL
QLFQLHEH]SLHF]QHJR
6]\ENRZ]LDPF]WHU\\NLJRUFHMKHUEDW\7DNMDN]DZV]H]DVWDQDZLDDP
VLF]\QLHSRZLQQDPMHGQDNZWDMHPQLF]\PDP\ZHZV]\VWNR7RQLHE\R
PLH XF]XFLH RNDP\ZD M F]\ WH SU]HPLOF]D WDN ZDQH U]HF]\ $OH QLH
FKFLDDP HE\ VL R PQLH PDUWZLD F]\ ZUF] ZGDD Z NRQIOLNW ]H
7X PDV] WDNLH PDH FR SRZLHG]LD ;HPHULXV ZVND]XMF QD PRM
SLHUNLHG\Z\F]RJDDPVL]SRZURWHP]FKURQRJUDIHPSRGSDFK
0D\P F]\P RND]D VL SDMN ZLHONL MDN GR &DUROLQH QR Z NDG\P
UD]LHPQLHMZLFHMWDNL
0XVLDDP VL PRFQR RSDQRZD HE\ ]GXVL ZU]DVN NWyU\ REXG]LE\ QLH
W\ONRZV]\VWNLFKPLHV]NDFyZGRPXDOHWHFDG]LHOQLF6WU]QLW\SDMN
SUyERZD SRVSLHV]QLH ]QDOH NU\MyZN SRG PRLP yNLHP WR QLHVDPRZLWH
MDNV]\ENRPRQDELHJDQDRPLXQRJDFK
%UUUEUUUV]F]NDDP]EDPLSU]H]PLQXW
7U]VRPQ]REU]\G]HQLDMHV]F]HZWHG\JG\QDVWDZLDDPFKURQRJUDI
1LH SU]HJLQDM SRZLHG]LD ;HPHULXV ,VWQLHM SDMNL NWyUH V ]H
GZDG]LHFLDUD]\ZLNV]HQLWHQWXWDM
*G]LH" 1D SODQHFLH 5RPXOXV" : SRU]GNX WR PRH E\ SUDZGD
3RVWDZLDP FKURQRJUDI Z V]DILH QD VNU]\QL XNONDP SU]\ QLP L ZVXQDP
SDOHFZSU]HJUyGNSRGUXELQHP:UDFDP]DSyWRUHMJRG]LQ\$W\]DVNL
VZRMHMPLHMQDRNXWDUDQWXO3RPDFKDDP;HPHULXVRZLODWDUN
1LFNDL]DF]HUSQDPSRZLHWU]D
'UDPDW\F]Q\PJHVWHPSRR\VRELHUNQDSLHUVL
&KFHV]MXL"-HV]F]HUDQHNQLHWDNEOLVNR
2FK ]DPNQLM VL -XOLR SRZLHG]LDDP L PRFQR QDFLVQDP SDOFHP QD
LJ
.LHG\ EUDDP NROHMQ\ ZGHFK SRF]XDP H PDP Z XVWDFK IODQHO
3RVSLHV]QLHMZ\SOXDPL]DZLHFLDPODWDUN7XSU]HGPRMWZDU]ZLVLD
V]ODIURN:RJyOHV]DIDE\DZ\SFKDQDXEUDQLDPLZLVLD\ZGZyFKU]GDFKL
FKZLOWUZDRQLPXGDRPLVLPLG]\QLPLZ\SURVWRZD
6\V]DHWR"UR]OHJVLNRELHF\JRVSR]DV]DI2QLH7\ONRQLHWR
&R WDNLHJR VNDUELH" 0VNL JRV EU]PLD EDUG]R DOH WR EDUG]R
QLHSHZQLH
=HVWUDFKXQLHE\DP]GROQDVLSRUXV]\
:V]DILH]XEUDQLDPLMHVWZLDWRR]QDMPLNRELHF\JRVNWyU\]XSHQLH
QLHRND]\ZDERMDQL
V]DILHZNDG\PUD]LHQDW\OHMDVQRHE\PPRJDGRVWU]HF]DU\V\PHEOLLR
QLFVLQLHSRWNQ
&LFKXWHNR SU]HNUDGDP VL GR GU]ZL L QDFLVQDP NODPN 'RNDGQLH Z
W\PPRPHQFLHFLRWND*OHQGDZU]DVQD.WRWXMHVW&KDUOHV
1LH F]HNDDP D QLHV]F]VQ\ &KDUOHV VL REXG]L DOER ]DSDOL VL ZLDWR
V]DUSQDP GU]ZL L UXV]\DP ELHJLHP QDMV]\EFLHM MDN SRWUDILDP SU]H]
NRU\WDU]LZGyVFKRGDPLSU]HFLDPNRU\WDU]QDGUXJLPSLWU]HLSRELHJDP
GDOHM Z Gy QLH ]ZUDFDMF XZDJL QD VNU]\SLFH VWRSQLH 1LH ZLHG]LDDP
GRNG ELHJQ DOH PLDDP G]LZQH GHMD YX FK\ED MX NLHG\ FR WDNLHJR
SU]H\DP
1D SLHUZV]\P SLWU]H ]GHU]\DP VL ] NLP Z NLP SR WUZDMF\P XDPHN
VHNXQG\ VWUDFKX UR]SR]QDDP VZRMHJR G]LDGND %H] VRZD FKZ\FL PQLH L
ZFLJQGRELEOLRWHNL
$ W\ FR WDN KDDVXMHV]" Z\V]HSWD ]DPNQZV]\ GU]ZL , GODF]HJR
SU]\FKRG]LV]WDNSyQR"
0\ODHP H QRJL ZURVQ PL Z ]LHPL SU]HG REUD]HP SUDSUDSUDG]LDGND
+XJKLEDHPVLHFRFLVLVWDR
%R VL VWDR ']LNL FLRFL 0DGG\ Z\OGRZDDP ZSURVW Z V\SLDOQL FLRWNL
*OHQG\ Z\U]XFLDP ] VLHELH EH] WFKX REDZLDP VL H PQLH ZLG]LDD
3UDZGRSRGREQLHZDQLHZWHMFKZLOLG]ZRQLQDSROLFM
:LGRN /XFDVD E\ GOD PQLH PD\P V]RNLHP =QyZ Z\JOGD MDN G]LDGHN
NWyUHJR]QDDPMDNRPDDG]LHZF]\QNDL]WUXGHPWHUD]PRJDP]REDF]\Z
QLPPRGHJR/XFDVD]Z\SRPDGRZDQIU\]XU
&KRWRE\RG]LHFLQQHGRRF]XQDS\Q\PL]\
']LDGHNWHJRQLH]DXZD\1DVXFKLZDSU]\GU]ZLDFK
3RF]HNDM WXWDM SyMG VSUDZG]L 6SRMU]D QD PQLH L XPLHFKQ VL
7DPVWRMNDQDSNLQDZV]HONLZ\SDGHN$JG\E\NWRZV]HG
WRMHVWHPWZRMNX]\QN+D]HOX]XSHQLDP
WRQDMOHSLHMVLXNU\M7DP]W\X]DELXUNLHP
$OHWRQLHE\RNRQLHF]QH/XFDVZUyFLFKZLOSyQLHM:\NRU]\VWDDPWHQ
F]DVHE\Z\UyZQDRGGHFKSRFKRQMHGQNDQDSNLREOLF]\LOHPLQXW
SR]RVWDRPLMHV]F]HGRSRZURWQHJRSU]HVNRNXZF]DVLH
SRP\OH HE\P PLD Z VRELH U\OH SU]\]ZRLWRFL E\ SR PLHUFL VWUDV]\ Z
W\PGRPXMDNRGXFK1DSUDZGSU]\GDRE\FLVLWURFKZVSDUFLD
7DN E\RE\ SLNQLH V]HSQDP $ ]DUD]HP VWUDV]QLH 'XFK\ NWyUH
]QDDP QLH Z\GDZD\ VL V]F]OLZH %\DP SU]HNRQDQD H ZROD\E\
]QDMGRZD VL Z LQQ\P PLHMVFX DGHQ QLH OXEL E\ GXFKHP :LNV]R ]
QLFKQLHZLHU]\DHXPDU\'REU]HHG]LDGHNGRQLFKQLHQDOH\
2NWyUHMPXVLV]ZUDFD"VS\WD6SRMU]DDPQD]HJDUHN
=D G]LHZL PLQXW , PXV] SRGGD VL HODSVML Z V\SLDOQL FLRFL *OHQG\
SRQLHZDZPRLFKF]DVDFK]DPNQDPWHQSRNyMRGURGND
0RHP\ SR SURVWX ZHSFKQ FL WDP NLOND VHNXQG ZF]HQLHM
SRZLHG]LD/XFDV=QLNQLHV]]DQLPVL]RULHQWXM
:W\PPRPHQFLHNWR]DVWXNDGRGU]ZL
/XFDVMHVWHWDP"
6FKRZDMVLV\NQ/XFDVDOHMDMX]G\DP]DUHDJRZD
-HGQ\P VNRNLHP U]XFLDP VL SRG ELXUNR Z VDP SRU ]DQLP RWZRU]\\
VL GU]ZL L GR URGND ZHV]D ODG\ $ULVWD :LG]LDDP W\ONR VWRS\ L UEHN
V]ODIURNDDOHMHMJRVXQLHPRQDE\RSRP\OL]DGQ\PLQQ\P
$ Fy W\ WX URELV] QD GROH Z URGNX QRF\" , F]\ WR V PRH NDQDSNL ]
WXF]\NLHP" :LHV] SU]HFLH FR SRZLHG]LD GRNWRU :KLWH =ZHVWFKQLHQLHP
RSDGDQDUR]JU]DQ\SU]H]HPQLHIRWHO
7HUD]ZSROXZLG]HQLDPLDDPMDGRUDPLRQNWyUHMDN]Z\NOHWU]\PDD
Z\SURVWRZDQH &LHNDZH F]\ JG\E\ RGZUyFLD JRZ ]REDF]\DE\ NDZDHN
PQLH"
&PRNQD
:DQLHE\XPQLH&KDUOHV7ZLHUG]LH*OHQGDJUR]LDPXHJRSRELMH
2MHM SRZLHG]LD /XFDV ]DVNDNXMFR OHNNLP WRQHP %LHGQ\ FKRSDN ,
FR]URELD"
'DDPPXV]NODQNZKLVN\RGU]HNDPRMDEDENDL]DFKLFKRWDD
:VWU]\PDDP RGGHFK 0RMD EDEND FKLFKRF]H" 7HJR QLJG\ ZF]HQLHM QLH
V\V]DDP,WDN]DZV]HVLG]LZLOLP\JG\VLPLDDDOHFKLFKRWQDOHDGR
LQQHMOLJL7RWDNMDNE\RSHU:DJQHUD]DJUDQDIOHFLHSURVW\P
3RWHP]DF]SDNDGRGDDOHNFHZDFR7R]QRZXE\DGRVNRQDOHPL
]QDQDODG\$ULVWD$ZWHG\MDPXVLDDPZ\SLV]NODQNZKLVN\
0RMDG]LHZF]\QND8V\V]DDPMDNG]LDGHNVLPLHMHLQDJOH]URELR
PLVLFLHSRZRNROLF\VHUFD
2ERMH Z\JOGDOL QD V]F]OLZ\FK QR SU]\QDMPQLHM RG V]\L Z Gy
8ZLDGRPLDP VRELH H ZDFLZLH QLH ZLHP MDN QDSUDZG Z\JOGDR LFK
PDHVWZR
-X F]DV HE\ GRP *OHQG\ L &KDUOHVD ]RVWD XNRF]RQ\ SRZLHG]LDD
ODG\ $ULVWD &]\ WR PROLZH H QDV]H G]LHFL QLH PDM ZLHONLHJR V]F]FLD
MHOLFKRG]LRSDUWQHUyZ"-DQH+DUU\
HJRMHVWVWUDV]OLZLHQXGQD&KDUOHVWR
PLF]DND1LFRODVMHVWELHGQ\MDNP\V]NRFLHOQD
$OHVSUDZLDH*UDFHMHVWV]F]OLZDDWRSU]HFLHQDMZDQLHMV]H
/DG\$ULVWDSRGQLRVDVL
7DN L QD 1LFRODVD QDU]HNDP QDMPQLHM =QDF]QLH JRU]HM E\RE\ JG\E\
*UDFH GDOHM WNZLD SU]\ W\P RNURSQ\P GH 9LOOLHUVLH :LG]LDDP MDN VL
Z]GU\JQD2QLZV]\VF\VSRWZRUQLHDURJDQFF\
0DPQDG]LHMH/XF\WHRG]\VNDUR]XP
:\GDMHPLVLH3DXOMHVWQLHFRLQQ\QLUHV]WDWHMURG]LQ\']LDGHNVL
XPLHFKQ7RPL\FKRSDN
1LHVG]QLHGDOHNRSDGDMDENRRGMDERQL,G]LHV]]HPQQDJyU"
&KFLDHPMHV]F]HWURV]NSRF]\WD
7DN L MHV]F]H WURFK SRJDGD ]H VZRM ZQXF]N ] SU]\V]RFL R LOH WR
PROLZH 0LDDP ERZLHP FRUD] PQLHM F]DVX 1LH ZLG]LDDP VWG ]HJDUD DOH
V\V]DDPMDNW\ND&]\E\P]QRZXF]XDWHSU]HNOWHPGRFLZEU]XFKX"
$QQD.DUHQLQD"7RWDNDPHODQFKROLMQDNVLNDQLHVG]LV]PyMGURJL"
:LG]LDDPMDNV]F]XSHGRQLHPRMHMEDENLVLJDMSRNVLNLRWZLHUDMMZ
MDNLP PLHMVFX 3HZQLH /XFDV WDN VDPR MDN MD ZVWU]\PD RGGHFK &]\ Z
RJyOH PRQD Z\MDQL LQQ\P OXG]LRP FR F]RZLHN F]XMH" 2FK PRH
SRZLQQDPWRNLHG\SU]HF]\WD"$OHZRNXODUDFK&RRW\PVG]LV]"
1DMSLHUZMDSU]HF]\WDP
$OH MX QLH G]LVLDM Z QRF\ 2GR\D NVLN QD VWy L SRFK\OLD VL GR
/XFDVD
1LHZLG]LDDPGREU]HDOHZ\JOGDRQDWRHW\FKGZRMHVLREHMPXMH
3U]\MG]DNLONDPLQXWVRG]LDF]NXSRZLHG]LD/XFDVDOHOHSLHME\E\R
HE\WHJRQLHUREL
5R]G]LD
2NRR G]LHVLWHM NWR ]DVWXND GR GU]ZL Z\U\ZDMF PQLH Z\VWUDV]RQ ]
JERNLHJRVQXFKRWRMXSRUD]WU]HFLEXG]RQRPQLHWHJRUDQND3LHUZV]\
UD] R VLyGPHM JG\ PDPD FKFLDD VSUDZG]L MDN VL F]XM 1LH PDV] MX
JRUF]NL ZLGD WZyM RUJDQL]P MHVW VLOQ\ -XWUR EG]LHV] PRJD SyM GR
V]NR\'UXJLUD]WU]\NZDGUDQVHSyQLHMJG\/HVOLHZVWSLDGRPQLHSU]HG
V]NRERZURGNXQRF\Z\VDDPMHMMHV]F]H606D
7R H WHQ 606 QLH VNDGD VL Z\F]QLH ] QLH]UR]XPLDHJR EHNRWX GR
G]LPQLHG]LZLERE\DPQLHSU]\WRPQD]HVWUDFKXDUFHWDNPLVLWU]V\
H SUDZLH QLH PRJDP WUDIL Z NODZLV]H -HG\QD GURJD GR PRMHJR
]DPNQLWHJRSRNRMXSURZDG]LDERZLHPSU]H]J]\PV]DRNQHPPQLHMZLFHM
F]WHUQDFLH PHWUyZ QDG FKRGQLNLHP 7R E\ SRP\V ;HPHULXVD E\P Z\V]D
SU]H]RNQR]SRNRMX1LFNDLSU]HF]RJDDVLSRJ]\PVLHZ]GXFLDQ\GRPX
GR PRMHJR RNQD 2Q VDP Z DGHQ VSRVyE QLH SU]\F]\QL VL GR SRZRG]HQLD
WHMDNFMLSR]DRNU]\NDPLW\ONRQLHSDWU]ZGyLRZPRUGNDOHZ\VRNR
/HVOLHLMDPLD\P\W\ONRNLONDPLQXWDSRWHPRQDSRV]DGRV]NR\DMD]
SRZURWHP]DSDGDPZJERNLVHQ$GRFKZLOLJG\JRV\QDNRU\WDU]XVWD\
VLGRQRQHLZXFK\ORQ\FKGU]ZLDFKXND]DDVLUXGDJRZD
']LHGREU\SRZLHG]LDV]W\ZQRSDQ0DUOH\
;HPHULXV NWyU\ GU]HPD Z QRJDFK PRMHJR yND D SRGVNRF]\ ]H
VWUDFKX
$ FR WXWDM UREL WD V\UHQD DODUPRZD" 3RGFLJQDP VRELH NRGU SRG
VDPEURG
3DOLVL"QLH]E\WSRP\VRZRVS\WDDPSDQD0DUOH\D
= WHJR FR PyZLD PDPD PLHOL SU]\M SR PQLH GRSLHUR SR SRXGQLX
&K\EDQLHZH]PPQLHQDHODSVMSURVWR]yND"
7HJR MX GRSUDZG\ ]D ZLHOH PRG\ F]RZLHNX UR]OHJ VL JRV ]D MHJR
SOHFDPL7RE\DFLRFLD
0DGG\'DDSDQX0DUOH\RZLOHNNLHJRNXNVDFDLZFLVQDVLRERNQLHJR
GRSRNRMX
1DMZ\UDQLHM EUDN SDQX GREU\FK PDQLHU Z SU]HFLZQ\P UD]LH QLH
ZG]LHUDE\VLSDQGRV\SLDOQLPRGHMG]LHZF]\Q\
7DN WDN MD WH QLH ]G\HP VL MHV]F]H RJDUQ GRGD ;HPHULXV
REOL]XMFSU]HGQLDS
-DMD]DMNQVLSDQ0DUOH\F]HUZRQ\QDWZDU]\MDNSRPLGRU
&LRFLX 0DGG\ QLH ZWUFDM VL -DNR WU]HFLD SRMDZLD VL &KDUORWWD Z
GLQVDFKLMDGRZLFLH]LHORQ\PVZHWU]HQDNWyUHJRWOHMHMZRV\JRU]D\QLF]\P
RJLH3DQ0DUOH\LSDQ%UHZHUPXV]W\ONRFR]DEUD
3DQ%UHZHUWRE\QDMZ\UDQLHMWHQPRG\F]RZLHNZF]DUQ\PJDUQLWXU]H
NWyU\ XND]D VL Z WHM FKZLOL 1XPHU F]WHU\ 3RZROL ]DF]\QDDP VL F]X MDN
QD GZRUFX 9LFWRULD 6WDWLRQ Z JRG]LQDFK V]F]\WX $ SU]HFLH PyM SRNyM QLH
PLDDW\OXPHWUyZNZDGUDWRZ\FK
&KDUORWWDSU]HSFKQDVLGRSU]RGXX\ZDMFRNFL
*G]LHMHVWVNU]\QLD"VS\WDD
6NDU\S\WDEH]NRS\WDZ\UHF\WRZD;HPHULXV
-DNDVNU]\QLD"]G]LZLDPVL
:FL MDN ]DPXURZDQD WNZLDP SRG NRGU :FDOH QLH ]DPLHU]DDP
ZVWDZDERQDGDOPLDDPQDVRELHWEUXGQSLDPLQLHFKFLDDPVLWDN
SRND]\ZDSDQX0DUOH\RZL:\VWDUF]\RHZLG]LPQLHUR]F]RFKUDQ
:LHV] GREU]H MDND &KDUORWWD SRFK\OLD VL QDGH PQ $ ZLF JG]LH
MHVW"
/RF]NLFLRFL0DGG\VWDQ\GED
1LHFK QLNW VL QLH ZD\ GRWNQ VNU]\QL UR]ND]DD ]DVNDNXMFR
DSRG\NW\F]Q\PWRQHP
3RGW\PZ]JOGHPQLHPRJDVLMHGQDN]XSHQLHPLHU]\]ODG\$ULVW
0DGHOHLQH 3U]HFLH FL PyZLDP H PDV] ]RVWD QD GROH 7HUD] GR
SRNRMXZNURF]\DPRMDEDENDZ\SURVWRZDQDMDNZLHFD]Z\VRNRXQLHVLRQ
EURG7RQLHWZRMDVSUDZD
&KDUORWWDSU]HGDUDVLW\PF]DVHPSU]H]WXPZNLHUXQNXV]DI\RWZRU]\D
JZDWRZQLHGU]ZLLSRND]DDQDVNU]\QL
-HVWWX
$OH RF]\ZLFLH H WR PRMD VSUDZD 7R MHVW PRMD VNU]\QLD NU]\NQD
]QRZXFLRFLD0DGG\W\PUD]HP]GHVSHUDFMZJRVLH7\ONRSR\F]\DPM
*ZHQGRO\Q
%]GXUD U]XFLD ODG\ $ULVWD 7D VNU]\QLD QDOHDD GR /XFDVD -X VL
]DVWDQDZLDDP JG]LH VL SRG]LHZDD SU]H] WH ZV]\VWNLH ODWD =PLHU]\D
PQLHVSRMU]HQLHPORGRZDWRENLWQ\FKRF]X
0RGDGDPRMHOL&KDUORWWDPDUDFMQLHFKFLDDE\PE\ZWZRMHMVNyU]H
3RGFLJQDPNRGUMHV]F]HRGURELQ]DVWDQDZLDMFVLF]\FDNLHPSRG
QLQLH]QLNQ
-HVW]DPNQLWD]DPHOGRZDD&KDUORWWDSRFK\ORQDQDGVNU]\QL
/DG\$ULVWDZ\FLJQDUN
.OXF]*ZHQGRO\Q
1LH PDP 0yM JRV EU]PLD JXFKR D WR ]D VSUDZ NRGU\ QLH
UR]XPLHPWHFR
1LH EG WDND XSDUWD ZHV]D PL Z VRZR ODG\ $ULVWD 3RQLHZD /HVOLH
]DZLHVLDVRELHWHQNOXF]]SRZURWHPQDV]\LQLHSR]RVWDZDRPLQLFLQQHJR
MDNWUZDZXSRU]H
&KDUORWWD ]DF]D SOGURZD V]XIODG\ DOH FLRFLD 0DGG\ XGHU]\D M SR
SDOFDFK
:VW\G]LDE\VL
3DQ0DUOH\RGFKU]NQ
=D SR]ZROHQLHP ODG\ 0RQWURVH PDP\ Z 7HPSLH URGNL L PHWRG\ E\
RWZRU]\]DPHNWDNHEH]NOXF]D
URGNLLPHWRG\PDSRZDJR;HPHULXVWRQHPVSLVNRZFD-DNE\RP\
PLD\ZVRELHFR]PDJLL*XSLEXIRQ
1R Fy Z WDNLP UD]LH ]DELHU]HP\ VNU]\QL ]H VRE R]QDMPLD ODG\
$ULVWD : GU]ZLDFK RGZUyFLD VL 3DQLH %HUQKDUG ]DZRDD 3URV]
RGSURZDG]LSDQyZQDGy
$ Z\GDZDRE\ VL H 6WUDQLF\ PDM GRV\ DQW\NyZ ]DXZD\
;HPHULXV&KFLZHFKRSDNLV]NRGDJDGD
-HV]F]H UD] SURWHVWXM ] FD VWDQRZF]RFL ]DZRDD FLRFLD 0DGG\
NLHG\SDQ0DUOH\LWHQGUXJLPF]\]QDEH]VRZDZ\QRVLOLVNU]\QL]SRNRMX
7RWRMHVW]DNyFHQLHPLUXGRPRZHJR-DN
*UDFH VL GRZLH H WDN SR SURVWX ZGDUWR VL GR MHM PLHV]NDQLD EG]LH
SRWZRUQLHZFLHND
7R MHVW Z GDOV]\P FLJX PyM GRP SRZLHG]LDD FKRGQR ODG\ $ULVWD
=ELHUDDVLMXGRRGHMFLD
,WXRERZL]XMPRMH]DVDG\7RH*ZHQGRO\QQLHMHVWZLDGRPDVZRLFK
RERZL]NyZ L QLHVWHW\ RND]XMH VL QLHJRGQD QD]ZLVND 0RQWURVH PRQD
E\RE\ MHV]F]H XVSUDZLHGOLZL MHM PRG\P ZLHNLHP L EUDNLHP ZLHG]\ DOH W\
0DGHOHLQHSRZLQQDZLHG]LHQDGF]\PWZyMEUDWSUDFRZDSU]H]FDHVZRMH
\FLH 2G FLHELH RF]HNLZDDE\P ZLFHM ]UR]XPLHQLD GOD KRQRUX URG]LQ\
-HVWHPPRFQRUR]F]DURZDQD:DPLRELHPD
-D WH MHVWHP UR]F]DURZDQD &LRFLD 0DGG\ Z]LD VL SRG ERNL L
RGSURZDG]LD JQLHZQ\P Z]URNLHP Z\FKRG]F ODG\ $ULVW :DPL RELHPD
3U]HFLHMHVWHP\URG]LQ3RQLHZDODG\$ULVWDMXQLHPRJDMHMXV\V]H
]ZUyFLDVLGR&KDUORWW\=DMF]NX-DNPRJD"
&KDUORWWD SRF]HUZLHQLDD 3U]H]MHGQ FKZLO SU]\SRPLQDDSDQD 0DUOH\D
D MD ]DVWDQDZLDDP VL JG]LH MHVW PRMD NRPyUND 7 FKZLO EDUG]R FKWQLH
XZLHF]QLDE\PGODSRWRPQ\FK$OERQDZ\SDGHNSU]\V]\FKSUyEV]DQWDX
1LH PRJDP GRSXFL GR WHJR E\ *ZHQGRO\Q ]ERMNRWRZDD FR F]HJR
QDZHW QLH MHVW Z VWDQLH ]UR]XPLH SRZLHG]LDD &KDUORWWD D JRV MHM QDZHW
WURFKGUD3RSURVWX]F]\VWHMFKFLJUDQLD]DZV]HLZV]G]LHSLHUZV]\FK
VNU]\SLHF 2QD RQD QLH PD DGQHJR V]DFXQNX GOD PLVWHULyZ ] NWyU\PL
QLH]DVXHQLH MHVW ]ZL]DQD 5]XFLD PL MDGRZLWH VSRMU]HQLH NWyUH
QDMZ\UDQLHM SRPRJR MHM Z]L VL Z JDU 6DPD VRELH QDJUDELD
SU\FKQD ] QRZ\P ]DSDHP $ MD SURSRQRZDDP H FL SRPRJ $OH QLH
=DZV]H PXVLV] DPD ]DVDG\ 0yZLF WH VRZD SU]HLVWRF]\D VL ]
SRZURWHPZVDPVLHELHL]URELDWRFRSRWUDILDQDMOHSLHMRGU]XFLDZRV\QD
SOHF\L]P\DVL
2ERHERHERH SRZLHG]LDD FLRFLD 0DGG\ L NODSQD QD EU]HJ PRMHJR
yND;HPHULXVOHGZLH]G\SU]HWXUODVLQDERN,FRP\WHUD]]URELP\"
1D SHZQR SR FLHELH SU]\MG MDN W\ONR RWZRU] VNU]\QL L QD SHZQR QLH
REHMG VL ] WRE ]E\W GHOLNDWQLH :\RZLD ] NLHV]HQL VSyGQLF\ SXV]N ]
F\WU\QRZ\PL FXNLHUNDPL L ZVDG]LD VRELH GR XVW SL QDUD] -D WHJR QLH
Z\WU]\PDP
5yZQLH SUDFD QLHMDNLHJR GRNWRUD 0 *LRUGDQR WR FK\ED QLH E\
SU]\SDGHN SRG W\WXHP +UDELD GH 6DLQW *HUPDLQ 3RGUyQLN Z F]DVLH L
ZL]MRQHUDQDOL]DUyGRZDQDSRGVWDZLHSURWRNRyZLQNZL]\F\MQ\FKLOLVWyZ
RSXEOLNRZDQD Z URNX Z VSHFMDOLVW\F]Q\P F]DVRSLPLH SRZLFRQ\P
EDGDQLRPKLVWRU\F]Q\P]DF]\QDDVLRGWDVLHPFRZDWHJRGXJLHJRQDRVLHP
OLQLMHN]GDQLDNWyUHNRPSOHWQLHQLH]DFKFDRGRGDOV]HMOHNWXU\
;HPHULXVQDMZ\UDQLHMRGQLyVWDNLHVDPRZUDHQLH
1XG\ ]EXQWRZD VL D MD RFKRF]R SU]HZUyFLDP NDUWNL GDOHM GR WHJR
PLHMVFDJG]LH/XFDV]HEUDZV]\VWNLHZLHUV]HLU\P\
.LOND]QLFKMX]QDDPDOHWDNHWHNWyUHE\\GODPQLHQRZHZ\GDZD\
VL]DJPDWZDQHSHQHV\PEROLNLLGRSXV]F]DMFHZLHOHLQWHUSUHWDFML]DOHQLH
RG SXQNWX ZLG]HQLD SRGREQLH MDN ZL]MH FLRFL 0DGG\ 6RZD FLHUSLHQLH L
WUZRJD Z\VWSRZD\ WDP ]E\W F]VWR SU]HZDQLH ]U\PRZDQH ]H VRZDPL
SRPLHQLHLSRRJD
*RHWKHLFKQDSHZQRQLHQDSLVDVNRPHQWRZD;HPHULXV7REU]PL
WDNMDNE\SDUX]DZLDQ\FKJRFLSRVWDQRZLRZVSyOQLH]U\PRZDFREDUG]R
PRFQR ]DJPDWZDQHJR +HM OXG]LH FR U\PXMH VL ] OLVHP ] MDGHLWX" .ZLWX
SLWX ]DFKZ\WX" 1LH ZHP\ OHSLHM VDQVNU\WX WR EG]LH EU]PLDR QDSUDZG
XSVRZLHOHEDUG]LHMWDMHPQLF]R
0XVLDDP VL UR]HPLD 7H ZLHUV]H WR U]HF]\ZLFLH E\R GQR $OH
ZLHG]LDDP H /HVOLH U]XFL VL QD QLH ] UDGRFL NRFKDD ]DJDGNL SRQDG
ZV]\VWNR%\DZLFLHSU]HNRQDQDHOHNWXUD$QQ\
.DUHQLQ\SFKQLHQDV]GHF\GRZDQLHGRSU]RGX
7R MHVW SRF]WHN QRZHM HU\ R]QDMPLD WHDWUDOQLH G]LVLDM UDQR
Z\PDFKXMF NVLN .WR PD ZLHG] WHQ PD ZDG] : W\P PLHMVFX
OHNNR VL ]DFLD 7R ] MDNLHJR ILOPX DOH Z WHM FKZLOL QLH SDPLWDP ]
MDNLHJR1LHZDQHWHUD]PRHP\]JELFDVSUDZ
%\PRHPLDDUDFM$OHJG\SyQLHMZURNXVLHG]LDDPQD]LHORQHM
VRILH QLH F]XDP DQL ZDG]\ DQL ZLHG]\ W\ONR VWUDV]OLZ VDPRWQR 7DN
EDUG]RFKFLDDPHE\/HVOLHE\D]HPQ
$OERSU]\QDMPQLHM;HPHULXV
:HUWXMF RG QLHFKFHQLD NVLN QDWNQDP VL QD IUDJPHQW R NWyU\P
PyZLSDQ0DUOH\ :SDG]LHUQLNXURNXZ.URQLNDFKU]HF]\ZLFLHE\
QDVWSXMF\ZSLVWDNKUDELDSU]HGRGMD]GHPMHV]F]HUD]SRUDG]LQDP
E\P\ UyZQLH Z SU]HV]RFL MDN QDMPRFQLHM RJUDQLF]DOL VW\F]QR HVNLFK
SRGUyQLNyZ Z F]DVLH ]ZDV]F]D XURG]RQHJR MDNR RVWDWQL UXELQX ] PRF
PLVWHULyZ L QLJG\ QLH OHNFHZD\OL QLV]F]\FLHOVNLHM VL\ NRELHFHM FLHNDZRFL
$FK WDN 2G UD]X XZLHU]\DP H KUDELD WDN SRZLHG]LD ZUF] XV\V]DDP
MHJRJRV1LV]F]\FLHOVNDVLDNRELHFHMFLHNDZRFL%UUU
: RGQLHVLHQLX GR EDOX QLHVWHW\ W\ONR RGRRQHJRZF]DVLH QLHZLHOH PL WR
GDZDR SRPLMDMF IDNW H WD FDD SLVDQLQD 6WUDQLNyZ ZFDOH QLH ]DFKFDD
GRWHJRE\MHV]F]HUD]VWDQ]KUDELRNRZRNR
=SHZQ\PLRSRUDPL]DMDPVLWHVWXGLRZDQLHP]RW\FK]DVDG%\RWDP
VSRUR R KRQRU]H L VXPLHQLX L R ]RERZL]DQLX E\ QLH F]\QL Z SU]HV]RFL
QLF]HJRFRPRJRE\]PLHQLSU]\V]R
=DVDGQXPHUF]WHU\1LHZROQRSU]HQRVLDGQ\FKSU]HGPLRWyZ]MHGQHM
HSRNL GR GUXJLHM SUDZGRSRGREQLH ]DPDDP SRGF]DV NDGHM ]H VZ\FK
SRGUy\ , ]DVDG QXPHU SL 1LJG\ QLH ZS\ZD QD ORV F]RZLHND Z
SU]HV]RFLWDNH2SXFLDPNVLNQDNRODQDLZ]DP\OHQLX]DJU\]DP
GROQ ZDUJ 0RH &KDUORWWD PLDD UDFM D MD E\DP NLP Z URG]DMX
QRWRU\F]QHJRSU]HVWSF\"&LHNDZHF]\6WUDQLF\MXSU]HV]XNDOLPyMSRNyM"
$PRHLFD\GRP]SVDPLWURSLF\PLLZ\NU\ZDF]DPLPHWDOX":F]HQLHMZ
NDG\P UD]LH QLF QLH ZVND]\ZDR QD WR E\ QDV] GUREQ\ IRUWHO PLD FKR
WURFKSRGZD\ZLDU\JRGQR&KDUORWW\
-HGQDNSDQ0DUOH\NWyU\SU]\MHFKDSRPQLHGRGRPXVSUDZLDZUDHQLH
OHNNRZVWU]QLWHJR
:\UDQLHXQLNDPRMHJRZ]URNXFKRVWDUDVL]DFKRZ\ZDWDNMDNE\QLF
VLQLHVWDR
3HZQLH PX ZVW\G Z\VXQ SU]\SXV]F]HQLH ;HPHULXV &KFLDE\P
]REDF]\ MHJR JXSL PLQ NLHG\ RWZRU]\ VNU]\QN 0DP QDG]LHM H ]
ZUDHQLDXSXFLVRELHRPQDVWRS
1R WDN ] SHZQRFL E\D WR FKZLOD NRPSURPLWDFML SDQD 0DUOH\D JG\
Z\FLJD ]H VNU]\QL PRMH NVLNL , RF]\ZLFLH GOD &KDUORWW\ $OH RQD WDN
V]\ENRVLQLHSRGGD
7DNF]\RZDNSDQ0DUOH\WU]\PDMFQDGHPQF]DUQ\SDUDVROZGURG]H]
VDPRFKRGX GR NZDWHU\ JyZQHM SRGHMPRZD SUyE\ SURZDG]HQLD VZRERGQHM
NRQZHUVDFMLSHZQLHSRWRE\XNU\VZRMHSRF]XFLHZLQ\
&KRGQR G]LVLDM SUDZGD" ]DJDGQ JRQR 7R E\R GOD PQLH
]GHF\GRZDQLH]E\WEDQDOQH
7DN.LHG\GRVWDQ]SRZURWHPPRMVNU]\QN"RGH]ZDDPVLUyZQLH
PLDR
1LHSU]\V]RPXGRJRZ\QLFLQQHJRMDNW\ONRREODVLUXPLHFHP
&]\PRJSU]\QDMPQLHMGRVWDVZRMH NVLNLF]\EG]LHFLH]GHMPRZD]
QLFKRGFLVNLSDOFyZ"
1LHG]LVLDMQLHE\RPLJRV]NRGD
0\JRGQHSRDRZDQLDE\PRHEGMNDVL
+"MNQOLP\MHGQRF]HQLHMDL;HPHULXV
3DQX0DUOH\RZLQDMZ\UDQLHMXO\RNLHG\ZGU]ZLDFKQDWNQOLP\VLQD
SDQD :KLWPDQD NWyU\ MDN ]DZV]H Z\JOGD MDN JZLD]GD ILOPRZD QD
F]HUZRQ\P G\ZDQLH 1DMZ\UDQLHM GRSLHUR SU]\E\ ER ZDQLH RVWURQLH
]GHMPRZDSDV]F]LVWU]HS\ZDNURSOHGHV]F]X]JVW\FKZRVyZ8PLHFKQ
VLSRND]XMFLGHDOQLHELDH]E\%UDNRZDRMHV]F]HW\ONRSLRUXQyZ]QLHED
*G\E\PE\D
&\QWKLD QD SHZQR ]URELDE\P GR QLHJR VRGNLH RF]\ DOH MD FDNRZLFLH
XRGSRUQLDP VL QD MHJR XURG L ZG]LN NWyUHJR ZREHF PQLH L WDN U]DGNR
X\ZD 3R]D W\P ]D MHJR SOHFDPL ;HPHULXV VWURL JXSLH PLQ\ L SRND]\ZD
SDOFDPLURJL
*ZHQGRO\Q6\V]DHPHF]XMHV]VLMXOHSLHM]ZUyFLVLGRPQLHSDQ
:KLWPDQ
&LHNDZHRGNRJRWRV\V]D
7URV]HF]N$E\RGZUyFLMHJRXZDJRGPRMHMQLHLVWQLHMFHMFKRURE\
D]G\DPVLMXSRU]GQLHUR]NUFLWHUNRWDDPV]\ENR GDOHM:DQLH
S\WDDPSDQD0DUOH\DRPRMVNU]\QN
0RH SDQ PyJE\ PL SRZLHG]LH NLHG\ GRVWDQ M ] SRZURWHP L GODF]HJR
PLMZRJyOH]DEUDQR"
6XV]QLH $WDN MHVW QDMOHSV] REURQ ]DJU]HZD PQLH GR ZDONL
;HPHULXV :LG] MX H SRUDG]LV] VRELH EH]H PQLH 1R WR MD OHF ]
SRZURWHP GR GRPX WURFK VRELH SRF]\ ]QDF]\ VSUDZG]L F]\ ZV]\VWNR Z
SRU]GNX6HH\RXODWHUDOOLJDWRUKHKH
-D P\ EGQH LQIRUPDFMH NRQW\QXRZD VZyM G]LXUDZ\ WHNVW SDQ
0DUOH\
3DQ :KLWPDQ FPRNQ SRLU\WRZDQ\ 3U]\ QLP SDQ 0DUOH\ RG UD]X Z\GD
VLSRGZyMQLHEH]UDGQ\
0DUOH\PRHSDQWHUD]LQDSU]HUZRELDGRZ
7DN MHVW SURV] SDQD 3U]HUZD RELDGRZD 1LHZLHOH EUDNRZDR D SDQ
0DUOH\VWU]HOLE\REFDVDPL
7ZRMD NX]\QND SRGHMU]HZD H ]QDOD]D VL Z SRVLDGDQLX SU]HGPLRWX
NWyU\ GR FLHELH QLH QDOH\ SRZLHG]LD SDQ :KLWPDQ NLHG\ SDQ 0DUOH\
RGGDOLVLZSRSLHFKXL]PLHU]\PQLHSU]HQLNOLZ\PVSRMU]HQLHP
=H Z]JOGX QD MHJR OLF]QH EU]RZH RF]\ /HVOLH QDGDD PX SU]H]ZLVNR
:LHZLyUND OHF] WHUD] PLPR QDMOHSV]\FK FKFL QLH XGDZDR PL VL Z QLP
GRVWU]HF QLF DGQHJR DQL SRFLHV]QHJR DQL RGURELQ\ FLHSD MDNLH U]HNRPR
]DZV]H PRQD ]QDOHZ EU]RZ\FK RF]DFK 3RGMHJR VSRMU]HQLHP PyM GXFK
SU]HNRU\ EDUG]R V]\ENR XNU\ VL Z QDMGDOV]\P NFLNX PRMHM RVRERZRFL
1DJOH]DF]DPDRZDHSDQ
0DUOH\ SRV]HG = QLP V]R PL ]QDF]QLH OHSLHM QL ] SDQHP :KLWPDQHP
2NDP\ZDQLH JR E\R ]QDF]QLH WUXGQLHMV]H SHZQLH ] SRZRGX MHJR
QDXF]\FLHOVNLHJRGRZLDGF]HQLD0LPRWRVSUyERZDDP
&KDUORWWD F]XMH VL FK\ED WURFK Z\NOXF]RQD PUXNQDP ]H
VSXV]F]RQ\P Z]URNLHP : WHM FKZLOL QLH MHVW MHM DWZR L PRH GODWHJR
Z\P\ODU]HF]\NWyUHMHMKP]DSHZQL]QRZXWURFKXZDJL
7DN SR]RVWDOL WH V WHJR ]GDQLD SU]\]QD ]DP\ORQ\ SDQ :KLWPDQ
$OH ZHGXJ PQLH &KDUORWWD PD XNV]WDWRZDQ RVRERZR L QLH SRWU]HEXMH
F]HJRWDNLHJR3RFK\OLNXPQLHJRZWDNEOLVNRHSRF]XDP]DSDFKMHJR
ZRG\NRORVNLHM-HOLMHMSRGHMU]HQLDPLD\E\VLMHGQDNSRWZLHUG]L
1RFyQLHMHVWHPSHZLHQF]\QDSUDZGMHVWHZLDGRPDVNXWNyZVZHJR
G]LDDQLD
1R Fy D ZLF E\R QDV MX GZRMH 0XVLDDP WURFK VL SU]HDPD HE\
]QRZXVSRMU]HPXZRF]\
6SRMU]DDP Z JyU &]\ WR PLDD E\ ZVND]yZND FR GR EDOX NWyUHM
V]XNDDP"-HOLWDNWRE\DPWHUD]WDNVDPRPGUDMDNSU]HGWHP
']LNLG]LDGNXZHVWFKQDP
7R MHVW PQLHM ZLFHM WDN VDPR SRPRFQH MDN Z\VWU]HJDM VL NDQDSHN ]
SDVWUDPL3U]HZUyFLDPVWURQ
7\ONRVLQLHZ\VWUDV]RGH]ZDVLJRV]DPQ
=FDSHZQRFLWR]GDQLHQDOH\]DOLF]\GRV\QQ\FKRVWDWQLFK]GDWR
]QDF]\]URG]DMXW\FKNWyUHMDNRRVWDWQLHV\V]\VLSU]HGPLHUFL]DUD]SR
QLH MHVW QDDGRZDQ\ DOER RQ VL W\ONR EDZL 2F]\ZLFLH SRWZRUQLH VL
Z\VWUDV]\DP
7RW\ONRMD=DVRIVWD*LGHRQLVSRJOGDQDPQLH]XPLHFKHP
-HJRZLGRNQDW\FKPLDVWZSURZDG]LZPRLPRUJDQL]PLHVWDQZ\MWNRZ\D
Z P\P ZQWU]X ]GHU]\\ VL QDMUR]PDLWV]H XF]XFLD QLH PRJF XVWDOL
ZVSyOQHJRNLHUXQNX
3DQ :KLWPDQ SRP\OD H RGURELQD WRZDU]\VWZD GREU]H FL ]UREL
SRZLHG]LD *LGHRQ $ MD VRELH SU]\SRPQLDHP H NRQLHF]QLH WU]HED WX
Z\PLHQL DUyZN 3RGU]XFL DUyZN QLF]\P SLHF]N GR RQJORZDQLD
]DSD L MHGQRF]HQLH ] ZG]LNLHP RSDG RERN PQLH QD VRI %DUG]R WX
SU]\WXOQLH
.DV]PLURZH NRFH , ZLQRJURQD :\GDMH PL VL H PDV] FKRG\ X SDQL
-HQNLQV
*DSLF VL QD MHJR EODG DOH SLNQ WZDU] L SUyEXMF ]DSDQRZD QDG
FKDRVHP PRLFK XF]X ]DFKRZDDP MHGQDN QD W\OH SU]\WRPQRFL XP\VX
HE\]DPNQ$QQ.DUHQLQ
*LGHRQ SDWU]\ QD PQLH XZDQLH MHJR Z]URN ZGURZD RG F]RD SU]H]
RF]\ZGyDGRXVW
&KFLDDP VSRMU]H Z GUXJ VWURQ L VL RGZUyFL DOH QLH PRJDP VL
QDV\FLMHJRZLGRNLHPZLFGDOHMJDSLDPVLMDNNUyOLNQDZD
0RHMDNLHPDHF]H"=QRZXSRSDWU]\PLZRF]\0LPRHMHVWH
DNXUDWQDPQLH]D
8QLyV]UR]EDZLHQLHPNFLNXVWFRRGUD]XZ\UZDRPQLH]RGUWZLHQLD
']LNLHPLRW\PSU]\SRPQLDH
/XF\ L 3DXO PyZLOL H QLH ZROQR XID KUDELHPX H MHVW Z VXELH ]D
&]\W\UyZQLHWDNP\OLV]"
*LGHRQSRNUFLJRZ
1LH1LHVG]E\E\]\PF]RZLHNLHP8ZDDPW\ONR=DZDKDVL
8ZDDPHGREURRJyXVWDZLDSRQDGGREURMHGQRVWNL
3RQDGVZRMHWDNH"
1LH RGSRZLHG]LD L ]QRZX Z\FLJQ UN 7\P UD]HP RZLQ NRVP\N
PRLFKZRVyZZRNyVZHJRSDOFDMDNQDORNyZFH
=DyP\ H PRJDE\ Z\QDOH FR VHQVDF\MQHJR WDN SU]\NDGRZR
OHNDUVWZRQDUDNDL QD$,'6LQDZV]\VWNLHLQQHFKRURE\QDZLHFLH$OHZ
]DPLDQ]DWRNWRPXVLDE\XPU]H=URELDE\WR"
.WRPXVLDE\XPU]H"&]\WRZDQLHE\SRZyGGODNWyUHJR/XF\L3DXO
XNUDGOL FKURQRJUDI" %R FHQD Z\GDD VL LP ]D Z\VRND XV\V]DDP JRV
PRMHMPDP\&HQDOXG]NLH\FLH"3U]HGRF]DPLSRMDZL\PLVLQDW\FKPLDVW
UyQHVFHQ\]ILOPyZ]DZLHV]RQHRGZURWQLHNU]\HRILDU\]OXG]LQDRWDU]XL
PF]\QL Z NDSWXUDFK PDPURF]F\ EDELORVNLH ]DNOFLD 7R QLH GR NRFD
SDVRZDRGR
6WUDQLNyZPRH]SHZQ\PLZ\MWNDPL
*LGHRQSDWU]\QDPQLHZ\F]HNXMFR
2GGD Z RILHU]H MHGQR OXG]NLH \FLH DE\ XUDWRZD ZLHOH LQQ\FK"
]DVWDQDZLDDPVL1LHSDWU]FSUDJPDW\F]QLHQLHVG]HE\WRE\D]E\W
Z\VRNDFHQD$W\"
*LGHRQSU]H]SDUFKZLOQLFQLHPyZLW\ONRSU]HVXZDZ]URNLHPSRPRMHM
WZDU]\ZFLEDZLFVLNRVP\NLHPZRVyZ
7DNMDWDNSRZLHG]LDZUHV]FLH1LH]DZV]HFHOXZLFDURGNL
&]\WR]QDF]\HQLHEG]LHV]MXURELWHJRF]HJRGDRGFLHELHKUDELD"
Z\U]XFLDP]VLHELHWU]HEDSU]\]QDHZQLH]E\WZ\UDILQRZDQ\VSRVyE
1DSU]\NDGQLHEG]LHV]VLEDZLPRLPLXF]XFLDPL"$QLPRLPLZRVDPL"
*LGHRQFRIQUNLVSRMU]DQDQL]G]LZLRQ\MDNE\QLHQDOHDDGRQLHJR
-DVLZFDOH3U]HFLHKUDELDQLHND]DPLEDZLVLWZRLPLXF]XFLDPL
$FK QLH" 1DJOH ]QyZ SRF]XDP SRWZRUQ ZFLHNR $ PQLH WDN
SRZLHG]LD 0DR WHJR E\ ]DFKZ\FRQ\ MDN ZVSDQLDOH VRELH SRUDG]LH
]ZD\ZV]\ QD WR H PLDH WDN PDR F]DVX QD PDQLSXORZDQLH PRLPL
XF]XFLDPLLHQLHVWHW\]PDUQRZDHWDNGXRHQHUJLLQDIDV]\ZRILDUWR
]QDF]\QD&KDUORWWH
*LGHRQZHVWFKQLSRWDUF]RR
+UDELD L MD U]HF]\ZLFLH RGE\OLP\ SDU UR]PyZ R HHH QR ZDQLH
WDNLFKPVNLFKUR]PyZ
-HVW]GDQLDLSURV]FLWHQF]RZLHN\SRQDGGZLHFLHODWWHPXWU]HED
PX WR Z\EDF]\ H G]LDDQLHP NRELHW\ VWHUXM Z\F]QLH HPRFMH SRGF]DV
JG\PF]\QLNLHUXMVLUR]VGNLHPLGODWHJROHSLHMMHOLPRMDWRZDU]\V]ND
SRGUy\ZF]DVLHEG]LHZHPQLH]DNRFKDQDHE\PZUD]LHZWSOLZRFLPyJ
]DSDQRZDQDGMHMG]LDDQLHP3RP\ODHP
3RP\ODH SU]HUZDDP PX JQLHZQLH 3RP\ODH H ]URELV]
ZV]\VWNRHE\VLWRXGDR
*LGHRQ Z\SURVWRZD VZRMH GXJLH QRJL ZVWD L ]DF] FKRG]L Z W L ]
SRZURWHP:\GDZDVL]MDNLHJRSRZRGXZ]EXU]RQ\
*ZHQGRO\Q GR QLF]HJR FL QLH ]PXV]DHP SUDZGD" :UF] SU]HFLZQLH
Z\VWDUF]DMFRZLHOHUD]\SRWUDNWRZDHPFLQDSUDZGSDVNXGQLH
*DSLDPVLQDQLHJREH]VRZD
,]DWRPDPFLE\WHUD]ZG]LF]QD"
2F]\ZLFLHHQLHRGSDU$ZDFLZLHWDN
&RWDNLHJR"
6SLRUXQRZDPQLHZ]URNLHP
'ODF]HJR G]LHZF]\Q\ V]DOHM ]D IDFHWDPL NWyU]\ WUDNWXM MH MDN PLHFL"
0LOL FKRSF\ QDZHW Z SRRZLH QLH V WDN LQWHUHVXMF\ &]DVDPL WUXGQR MHVW
]DFKRZD V]DFXQHN GOD G]LHZF]\Q :FL NU\ MDN W\JU\V SR NODWFH
VWDZLDMF GXJLH NURNL 'R WHJR MHV]F]H FKRSDNL ] RGVWDMF\PL XV]DPL L
SU\V]F]DPLQLHPDMZLHONLFKV]DQV
$OHW\MHVWHF\QLF]Q\LSRZLHU]FKRZQ\%\DP]G]LZLRQD]ZURWHPMDNL
QDJOHQDVWSLZWHMUR]PRZLH
*LGHRQZ]UXV]\UDPLRQDPL
3\WDQLHNWRWXMHVWSRZLHU]FKRZQ\"&]\PRHGDDVLSRFDRZDSDQX
0DUOH\RZL"
1D FKZLO QDSUDZG ]EL PQLH ] SDQWD\NX 0RH L Z W\FK VRZDFK E\R
]LDUHQNRSUDZG\WDNLHPDOXVLHNLH$OH]DUD]SRNUFLDPJRZ
:VZRMHMLPSRQXMFHMDUJXPHQWDFML]DSRPQLDHRF]\PZDQ\P0LPR
H QLH PDV] SU\V]F]\ WDN QD PDUJLQHVLH JUDWXOXM SRF]XFLD ZDVQHM
ZDUWRFLQLHSR]ZROLDE\PFLVLSRFDRZDJG\E\PQLHQLHRNDPDLQLH
XGDZD H FR GR PQLH F]XMHV] ]\ QDS\Q\ PL GR RF]X 1LH QLH
]DNRFKDDE\P VL Z WRELH GRGDDP GUF\P JRVHP $ MHOL MX WR QD
SHZQRQLHGDDE\PWHJRSRVRELHSR]QD
*LGHRQRGZUyFLVLRGHPQLH3U]H]FKZLOVWDOEH]UXFKXDSRWHPQDJOH
Z\PLHU]\]FDHMVL\NRSQLDNDFLDQLH
'RGLDED*ZHQGRO\QSRZLHG]LDSU]H]]DFLQLWH]E\&]\W\]DZV]H
E\D ]XSHQLH V]F]HUD ZREHF PQLH" &]\ UDF]HM PQLH RNDP\ZDD LOHNUR
W\ONRQDGDU]\DVLRND]MD"
3RGF]DVJG\V]XNDDPRGSRZLHG]LE\QDSUDZGPLVWU]HPZRGZUDFDQLX
NRWD RJRQHP SRF]XDP ]QDMRPH PGRFL DOH W\P UD]HP E\R PL WDN
QLHGREU]HMDNQLJG\ SU]HGWHP:\VWUDV]RQDSU]\FLVQDP$QQ.DUHQLQGR
SLHUVL1DVSDNRZDQLHNRV]\NDE\RUDF]HM]DSyQR
3R]ZROLD PL VL ZSUDZG]LH SRFDRZD DOH QLJG\ PL QLH XIDD
GRELHJ\PQLHMHV]F]HVRZD*LGHRQD
5HV]W\ MX QLH XV\V]DDP ER Z QDVWSQHM FKZLOL Z\OGRZDDP Z
WHUDQLHMV]RFL L PXVLDDP ] FD\FK VL VNXSL VL QD W\P HE\ QLH
]Z\PLRWRZDSDQX0DUOH\RZLSRGQRJL
.LHG\ Z NRFX ]DSDQRZDDP QDG VZRLP RGNLHP ZUyFL WDNH *LGHRQ
2SDU VL SOHFDPL R FLDQ *QLHZ ]QLNQ ] MHJR WZDU]\ 8PLHFKQ VL
WVNQLH
6WUDV]QLH FKFLDE\P Z]L XG]LD Z ZDV]HM SDUWLL SRNHUD SRZLHG]LD
%RMHVWHPFDNLHPGREU\ZEOHIRZDQLX3RW\FKVRZDFKQLHRJOGDMFVL
Z\V]HG]SRNRMX
= SURWRNRyZ LQNZL]\F\MQ\FK RMFD GRPLQLNDQLQD *LDQ 3LWUR %DULELHJR
$UFKLZD%LEOLRWHNL8QLZHUV\WHFNLHMZ3DGZLHUR]V]\IURZDQHSU]HWXPDF]RQH
LRSUDFRZDQHSU]H]GRNWRUD0*LRUGDQR
F]HUZFD URNX : NODV]WRU]H 6 EDGDP ZFL SU]\SDGHN PRGHM
(OLVDEHWW\NWyUDZHGXJVyZMHMZDVQHJRRMFDQRVLZVRELHG]LHFNRGHPRQD
: UDSRUFLH QLH NU\HP ZREHF SU]HZRGQLF]FHJR NRQJUHJDFML PHJR
5R]G]LD
0LHQLFHVLUDMVNLHSWDNLRUD]NZLDW\LOLFLHZRGFLHQLDFKENLWXL]LHOHQL
SL\ VL SR EURNDWRZ\P JRUVHFLH UNDZ\ L VSyGQLFD XV]\WH E\\ ]
FLHPQRJUDQDWRZHJRMHGZDELXV]HOHFL\LV]XPLD\SU]\NDG\PPRLPNURNX
QLF]\PPRU]HZEXU]OLZ\G]LH
%\R GOD PQLH MDVQH H NDGD G]LHZF]\QD Z\JOGDDE\ Z WHM VXNQL MDN
NVLQLF]NDDPLPRWRPRMHRGELFLHZOXVWU]HQLHPDO]ZDOLRPQLH]QyJ
7R MHVW QLHZ\REUDDOQLH SLNQH V]HSQDP ] QLHNDPDQ\P
]DFKZ\WHP
;HPHULXVSDUVNQ6LHG]LDQDUHV]WNDFKEURNDWXRERNPDV]\Q\GRV]\FLD
LGXEDZQRVLH
.RELHW\ SU\FKQ 1DMSLHUZ EURQL VL SU]HG W\P EDOHP UNDPL L
QRJDPLDOHGZLHZRQDVLHELHMDNLVWDU\DFK]HPRFMLMXSUDZLHURELZ
JDFLH
=LJQRURZDDPJRLRGZUyFLDPVLGRDXWRUNLWHJRG]LHDV]WXNL
7DPWDVXNQLDWHE\DGRVNRQDDPDGDPH5RVVLQL
7DNZLHP8PLHFKQDVL0RHZ\NRU]\VWDP\MSU]\LQQHMRND]ML
0DGDPH5RVVLQLSDQLMHVWSUDZG]LZDUW\VWN]DSHZQLDPMDUOLZLH
1
HVWFHSDV
" 0UXJQD GR PQLH $ DUW\FLH ZROQR VL F]DVHP
UR]P\OL7DPWD VXNQLDZ\GDZDD PL VL ]E\W EODGDGR ELDHM SHUXNL7DND
FHUDMDNWZRMDZ\PDJDPRFQ\FKFRPPHQWRQGLW
O.RQWUDVWyZ
$FKSUDZGD3HUXND:HVWFKQDP2QDZV]\VWNRSRSVXMH0RHPL
SDQLMHV]F]HV]\ENRVWU]HOLIRWN"3RGDDPMHMVZyMWHOHIRQ
%LHQ VXU
0DGDPH 5RVVLQLZ]LD NRPyUN L SRVDD PQLH QD VWRHN
RERNNRPRG\
;HPHULXV UR]ZLQ VNU]\GD SU]\IUXQ GR PQLH L Z\OGRZD WX SU]HG
SRUFHODQRZJRZ]SHUXN
0DV] SRMFLH FR ]Z\NOH URL VL Z WDNLHM F]XSU\QLH" 2GFK\OL JRZ GR
W\X L VSRMU]D QD SU]\SXGURZDQ QD ELDR ZLH :V]\ ] FD SHZQRFL
3HZQLH WH PROH (ZHQWXDOQLH MHV]F]H FR JRUV]HJR 3RGQLyV WHDWUDOQLH
DS\3RZLHPMHV]F]HW\ONRWDUDQWXOD
=GXVLDP Z VRELH NRPHQWDU] QD WHPDW WHJR H PLHMVNLH OHJHQG\ WR MX
QDSUDZGSU]HEU]PLDDVSUDZDLGHPRQVWUDF\MQLH]LHZQDP
;HPHULXVXMVLSD]XUDPLSRGERNL
$OHWRSUDZGDSRZLHG]LD$W\SRZLQQDVLVWU]HFQLHW\ONRSDMNyZ
OHF]WDNHSHZQHJRKUDELHJRMHOLFLWRXPNQRZW\PWZRLPNRVWLXPRZ\P
DPRNX
1LHVWHW\ PLD UDFM ']L MHGQDN R]GUDZLDD L QDZHW SU]H] 6WUDQLNyZ
X]QDQD ]D QDGDMF VL GR XF]HVWQLF]HQLD Z EDOX FKFLDDP W\ONR MHGQHJR
P\OH SR]\W\ZQLH $ JG]LH PRJRE\ WR SU]\M F]RZLHNRZL DWZLHM QL Z
SUDFRZQLPDGDPH5RVVLQL"1LH]QDDPOHSV]HJRPLHMVFD
5]XFLDP ;HPHULXVRZL VXURZH VSRMU]HQLH L SU]HVXQDP Z]URNLHP SR
ZLHV]DNDFKQDXEUDQLD
.DGDQDVWSQDVXNQLDE\DSLNQLHMV]DRGSRSU]HGQLHM
$QLHPDSDQLSU]\SDGNLHPF]HJRZ]LHOHQL"VS\WDDP]QDG]LHM
3U]\SRPQLDD PL VL LPSUH]D X &\QWKLL L SRP\V\ /HVOLH QD QDV]H
PDUVMDVNLH SU]HEUDQLD 3RWU]HEXMHP\ W\ONR ]LHORQ\FK ZRUNyZ QD PLHFL
NLONX Z\FLRUyZ GR IDMNL SXVW\FK SXV]HN SR NRQVHUZDFK L SDUX
VW\URSLDQRZ\FK NXOHN SRZLHG]LDD =D SRPRF ]V]\ZDF]D L SLVWROHWX GR
NOHMHQLD QD JRUFR Z PJQLHQLX RND SU]HLVWRF]\P\ VL Z PDUVMDVNLFK
OX]DNyZZVW\OXYLQWDJH
0RQD SRZLHG]LHZ \ZH G]LHD V]WXNL QRZRF]HVQHM L QLHZ\GDP\ QD WR
DQLJURV]D
=LHOHQL" 0DLV RXL
SRZLHG]LDD PDGDPH 5RVVLQL .LHG\ ZV]\VF\
MHV]F]H P\OHOL H WHQ UXGRZRV\ FKXG]LHOHF EG]LH SRGUyRZD Z F]DVLH
X\ZDDP ZLHOX RGFLHQL ]LHOHQL NWyUD GRVNRQDOH KDUPRQL]XMH ] UXG\PL
ZRVDPLLQDWXUDOQLHWDNH]]LHORQ\PLRF]DPLWHJRPRGHJR
REX]D
2FK RFK U]XFL ;HPHULXV JURF MHM SD]XUHP 1LHEH]SLHF]Q\ WHUHQ
QDMGURV]D
, PLD UDFM 7HJR PRGHJR REX]D ]GHF\GRZDQLH QLH E\R ERZLHP QD
OLFLH SR]\W\ZQ\FK U]HF]\ R NWyU\FK FKFLDDP P\OH OHF] MHOL *LGHRQ
QDSUDZG PLDE\ VL SRMDZL ] &KDUORWWD QD WHM LPSUH]LH WR MD ] FD
SHZQRFLQLHEGWDPVWDDZZRUNXQDPLHFLQLHFKVRELH/HVOLHPyZLFR
FKFHQDWHPDWOX]XLV]WXNLQRZRF]HVQHM
0DGDPH5RVVLQLZ\V]F]RWNRZDDPRMHGXJLHZRV\L]HEUDDMHQDF]XENX
JXPN
1DZLDVHP PyZLF G]L ZLHF]RUHP RQ WH EG]LH XEUDQ\ QD ]LHORQR Z
FLHPQPRUVN]LHOH
&D\PLJRG]LQDPLJRZLDPVLQDGGRERUHPNRORUyZHE\VL]HVREQLH
JU\]\ L QD NRQLHF Z\SUyERZDDP ZV]\VWNR SU]\ ZLHWOH ZLHF $EVROXPHQW
RQLULXH
%G]LHFLHUD]HPZ\JOGDMDNNUyOLNUyORZDPyU]
$SVROXP]DVNU]HF]D;HPHULXV,MHOLQLHXPU]HFLHEG]LHFLHPLHOL
UD]HPGXRPD\FKNVLWHNLNVLQLF]HNPyU]
:HVWFKQDP &]\ RQ F]DVHP QLH SRZLQLHQ E\ Z GRPX L SLOQRZD
&KDUORWW\" 1LH GDURZD VRELH WRZDU]\V]HQLD PL D GR 7HPSLH FR Z VXPLH
E\RQDZHWPLH;HPHULXVGREU]HZLHG]LDHERMVLWHJREDOX
0DGDPH 5RVVLQL UR]G]LHOLD PL ZRV\ QD WU]\ SDVPD L ]DSORWD MH Z
ZDUNRF]NWyU\PDUV]F]FF]RRXSLDV]SLONDPLZZ]H
=LHOH SRZLDGDV]" 1LHFK VL ]DVWDQRZL 0DP\ QD SU]\NDG VWUyM GR
MD]G\NRQQHM]NRFDRVLHPQDVWHJRZLHNX]]LHORQHJRDNVDPLWXDSR]DW\P
R 7R PL VL XGDR GRVNRQDOH JDUGHURED ZLHF]RURZD ] URNX
MDVQR]LHORQ\ MHGZDE ] RGSRZLHGQLP NDSHOXV]HP SDV]F]HP L WRUHEN WUHV
FKLF
, VNRSLRZDDP WH NLOND VXNLHQ RG %DOHQFLDJL MDNLH *UDFH .HOO\
QRVLD Z ODWDFK V]HG]LHVLW\FK 1DMZVSDQLDOV]\ RND] WR VXNQLD EDORZD Z
NRORU]HSDWNyZUy\WHE\ZQLHMFXGRZQLHZ\JOGDD
2VWURQLH SRGQLRVD NRQVWUXNFM SHUXNL QLHQRELDD R]GRELRQD
QLHELHVNLPLZVWNDPLLEURNDWRZ\PLNZLDWDPLSU]\SRPLQDDZLHORSLWURZ\
WRUW ZHVHOQ\ 5R]VLHZDD QDZHW ZR ZDQLOLL L SRPDUDF]\ 0DGDPH 5RVVLQL
]UF]QLHZR\DPLWHQWRUWQDSWDVLHJQLD]GRQDF]XENXJRZ\LNLHG\]QRZX
]HUNQDPZOXVWURQLHPRJDPVLSR]QD
7HUD] Z\JOGDP MDN SRF]HQLH 0DULL $QWRQLQ\ L PRMHM EDENL
SRZLHG]LDDP
%]GXU\ VSU]HFLZLD VL PDGDPH 5RVVLQL SU]\PRFRZXMF SHUXN
RJURPQ\PL V]SLONDPL GR ZRVyZ 3U]\SRPLQD\ PDH V]W\OHW\ ] NRFyZNDPL
]H OQLF\FK V]NLHHN NWyUH SU]HZLHFD\ SU]H] NRQVWUXNFM ORNyZ QLF]\P
0DGDPH5RVVLQLXPLHFKQDVLVRG]LXWNRLSRZLHG]LDDGRQLHJRFRFR
JZDWRZQLH ]DPNQR U\ELH XVWD 1LHVWHW\ VWUDFLDP LFK ] RF]X NLHG\
NLHURZFDVNUFLZXOLF]NSURZDG]FGR6WUDQGX
-HFKDDP NX SU]H]QDF]HQLX 8PLHFKDMF VL UR]VLDGDP VL Z\JRGQLH
DOH Z F]DVLH MD]G\ PyM GREU\ QDVWUyM V]\ENR VL XORWQL XVWSXMF PLHMVFD
]GHQHUZRZDQLX L VWUDFKRZL %DDP VL Z ]DVDG]LH ZV]\VWNLHJR VZRMHM
QLHSHZQRFL WHM PDV\ OXG]L VSRMU]H S\WD WDFyZ D SU]HGH ZV]\VWNLP
RF]\ZLFLH SRQRZQHJR VSRWNDQLD ] KUDEL /NL GUF]\\ PQLH G]L Z QRF\
QDZHW ZH QLH FKR L WDN VL FLHV]\DP H PRJDP ]DOLF]\ W QRF GR
SU]HVSDQ\FK 7X SU]HG SU]HEXG]HQLHP QLR PL VL FR V]F]HJyOQLH
SRJPDWZDQHJR SRWNQDP VL R ZDVQH VSyGQLFH L ]OHFLDDP ] Z\VRNLFK
VFKRGyZ ZSURVW SRG QRJL KUDELHJR GH 6DLQW *HUPDLQ NWyU\ SRPyJ PL
ZVWDFKZ\WDMF]DJDUGR-D]JRWDSU]\W\PFRG]LZQHJRVHP&KDUORWW\
-HVWH KDE GOD FDHM URG]LQ\ $ RERN QLHJR VWD SDQ 0DUOH\ WU]\PD Z
JyU]H SOHFDN /HVOLH L PyZL ] Z\U]XWHP 1D 2\VWHU &DUG MHVW W\ONR IXQW
GZDG]LHFLD
&y
]D
QLHVSUDZLHGOLZR
'RSLHUR
FR
GRDGRZDDP
NDUW
VNRPHQWRZDD PyM VHQ /HVOLH ']L UDQR QD JHRJUDILL R PDR QLH XPDUD ]H
PLHFKXJG\MHMJRRSRZLHG]LDDP3U]\W\PQLHE\ZFDOHZ]LW\]NRVPRVX
ZF]RUDM SR OHNFMDFK NLHG\ ZVLDGDD GR DXWREXVX VNUDG]LRQR MHM SOHFDN
-DNL PRG\ F]RZLHN NWyU\ ZHGXJ UHODFML /HVOLH ELHJD V]\EFLHM QL 'ZDLQ
&KDPEHUVEH]F]HOQLH]HUZDJRMHM]UDPLRQ
7\PF]DVHP WURFK VL MX XRGSRUQL\P\ MHOL FKRG]L R 6WUDQLNyZ 3R
&KDUORWFLH NWyUD ] SHZQRFL ]D W\P VWDD WR ]QDF]\ SRUHGQLR L WDN QLH
VSRG]LHZD\P\VLQLF]HJRLQQHJR0LPRZV]\VWNRX]QD\P\WPHWRG]D
QLHFR QR Fy SURVWDFN *G\E\ EUDNRZDR QDP MHV]F]H RVWDWHF]QHJR
GRZRGX WR PyJ QLP E\ IDNW H NRELHWD RERN /HVOLH PLDD WRUHEN RG
+HUPHVD
%GP\ V]F]HU]\ MDNL ]RG]LHM NWyU\ FKR WURFK VL V]DQXMH XNUDGE\
]DPLDVWQLHM]DFKDQ\SOHFDN"
-DN GRQLyV ;HPHULXV &KDUORWWD NLHG\ W\ONR Z\V]DP ZF]RUDM ] GRPX
SU]HF]HVDD PyM SRNyM QLH SRPLMDMF SU]\ W\P QLF]HJR Z SRV]XNLZDQLX
FKURQRJUDIX=DMU]DDQDZHWSRGSRGXV]NFyWR]DRU\JLQDOQDNU\MyZND"
&R WH FLRWND *OHQGD XF]\QLD UD]HP ] &KDUORWWD NWyUD R]QDMPLD H MX
QLHMHVWJRGQD
:V]\VWNRZSRU]GNX"3DQ*HRUJHNWyU\VLHG]LDQDSU]HFLZNRDUDF]HM
SR SU]HNWQHM ER PRMH VSyGQLFH E\\ WDN V]HURNLH H ]DMPRZD\ Sy
VDPRFKRGXLGRWHMSRU\SR]RVWDZLDPQLHZDVQ\PP\ORPXPLHFKQVL
WHUD]&]\GRNWRU:KLWHGDFLFRQDWUHP"
3RNUFLDPJRZ
1LHRGSDUDP=DEDUG]RE\PVLEDDHZRVLHPQDVW\PZLHNXEG
ZLG]LHSRGZyMQLH
$OERMHV]F]HFRJRUV]HJRDOHWRZRODDPSU]HPLOF]H1DVRLUHHZRVWDWQL
QLHG]LHO ]GRDDP ]DFKRZD VSRNyM MHG\QLH G]LNL VSHFMDOQHPX SRQF]RZL
ODG\ %URPSWRQ L WR ZDQLH WHQ SRQF] VNRQL PQLH GR WHJR E\ SU]HG
PQyVWZHP]DVNRF]RQ\FKJRFL]DSUH]HQWRZDSLRVHQN0HPRU\]PXVLFDOX
.RW\ JXSLH GZLHFLH ODW ZF]HQLHM QL $QGUHZ /OR\G :HEHU WR
VNRPSRQRZD3R]DW\PZREHFQRFLZV]\VWNLFKJRFLUR]PDZLDDPJRQR]
GXFKHPFRQDWU]HZR]FDSHZQRFLE\PLVLQLHSU]\GDU]\R
0LDDPQDG]LHMH SU]\QDMPQLHMSDU PLQXWEGPRJDVSG]LVDPQD
VDP]GRNWRUHP
:KLWH
HPHE\JR]DS\WDGODF]HJRPLSRPyJDOHRQW\ONR]EDGDPQLHZ
REHFQRFL)DONDGH
9LOOLHUV L NX UDGRFL ZV]\VWNLFK RZLDGF]\ H MHVWHP ]GURZD .LHG\ QD
SRHJQDQLH PUXJQDP GR QLHJR NRQVSLUDF\MQLH ]PDUV]F]\ F]RR L ]DS\WD
F]\FRPLZSDGRGRRND1DZVSRPQLHQLHWHJRZHVWFKQDP
1LH PDUWZ VL SRZLHG]LD ]H ZVSyF]XFLHP SDQ *HRUJH =DQLP VL
REHMU]\V]MXZUyFLV]
-HV]F]HSU]HGNRODFMEG]LHV]WRZV]\VWNRPLDD]DVRE
$OH GR WHJR F]DVX PRJ ]HSVX PQyVWZR U]HF]\ R LOH QLH Z\ZRDP
ZLDWRZHJR NU\]\VX 1LHFK SDQ VS\WD *LRUGDQD 1LHZDFLZ\ XPLHFK
QLHZDFLZ\XNRQQLHZDFLZDNRPXQLNDFMDLEDFK
2VLHPQDVW\ZLHNVWRLZSRPLHQLDFK
3DQ*HRUJHVL]DPLD
$FK *LRUGDQR MHVW SR SURVWX ]D]GURVQ\ =D SRGUy Z F]DVLH PyJE\
SRSHQLPRUGHUVWZR
3U]HMHFKDDPGRPLSRPLNNLPMHGZDELXVSyGQLF\LSRZLRGDPSDOFDPL
SRKDIWRZDQ\FKZ]RUDFK
1DSUDZGZFLQLHUR]XPLHPGODF]HJRWHQEDOMHVWWDNLZDQ\,F]HJR
MDWDPZDFLZLHV]XNDP"
&KFHV] SRZLHG]LH SUyF] WDFD L ]DEDZ\ L SUyF] SU]\ZLOHMX XMU]HQLD QD
ZDVQH RF]\ V\QQHM NVLQHM 'HYRQVKLUH" *G\ QLH ]DUHDJRZDDP
XPLHFKHPSDQ*HRUJHQDW\FKPLDVWVSRZDQLDZ\M]NLHV]RQNLQDSLHUVL
FKXVWHF]NLZ\WDUQLF]RR2FKPRMHG]LHFNR7HQG]LHGODWHJRPDWDN
RJURPQH ]QDF]HQLH H ZDQLH QD W\P EDOX RNDH VL NWR Z V]HUHJDFK
6WUDQLNyZ MHVW ]GUDMF L NWR SU]HND]D LQIRUPDFMH 6RMXV]RZL )ORUHQFNLHPX
+UDELDPDQDG]LHMHZDV]DREHFQRSR]ZROLZ\ZDEL]NU\MyZNL]DUyZQR
ORUGD$ODVWDLUDMDNL]GUDMF
$KD 7R E\R SU]\QDMPQLHM QLHFR EDUG]LHM SUHF\]\MQH QL Z $QQLH
.DUHQLQLH
$ZLFNUyWNRPyZLFMHVWHP\SU]\QW=PDUV]F]\DPF]RR$OH
KPF]\QLHSRZLQLHQSDQMXRGGDZQDZLHG]LHF]\WHQSODQ]DG]LDD",
NWRMHVW]GUDMF"3U]HFLHWRZV]\VWNRZ\GDU]\RVLGZLHFLHODWWHPX
7DNLQLHRGU]HNSDQ*HRUJH=MDNLHJRSRZRGXUDSRUW\Z.URQLNDFK
] W\FK GQL L W\JRGQL V GR PWQH 3R]D W\P EUDNXMH FDHJR IUDJPHQWX
:SUDZG]LH Z ZLHOX PLHMVFDFK MHVW PRZD R ]GUDMF\ NWyUHJR SR]EDZLRQR
Z\VRNLHJRXU]GXDOHMHJRQD]ZLVNRQLH]RVWDMHZ\PLHQLRQH&]WHU\W\JRGQLH
SyQLHM NUyWNR RGQRWRZDQR H QLNW QLH RGGD ]GUDMF\ RVWDWQLFK KRQRUyZ
SRQLHZDQLH]DVX\QDKRQRU\
=QRZXGRVWDDPJVLHMVNyUNL
&]WHU\W\JRGQLHSRZ\U]XFHQLX]OR\]GUDMFDMXQLH\"-DNLHWRRFK
SUDNW\F]QH
3DQ*HRUJHMXPQLHQLHVXFKD=DVWXNDZRNLHQNRV]RIHUD
2EDZLDP VL H EUDPD MHVW ]E\W ZVND GOD WHM OLPX]\Q\ 1LHFK SDQ
ZMHG]LHQDV]NROQ\G]LHG]LQLHF]ERNX8PLHFKQVLGRPQLH-HVWHP\
QD PLHMVFX 1DZLDVHP PyZLF Z\JOGDV] FXGRZQLH SU]H] FD\ F]DV
FKFLDHPFLWRSRZLHG]LH-DNE\Z\V]D]HVWDUHJRPDORZLGD6DPRFKyG
]DKDPRZD WX SU]HG VFKRGDPL IURQWRZ\PL $ ZDFLZLH GXR GXR
SLNQLHM
']LNXM
= ]DZVW\G]HQLD ]XSHQLH ]DSRPQLDDP R W\P FR SRZLHG]LDD PL PDGDPH
5RVVLQL=DZV]HQDMSLHUZJRZDPyMFXNLHUHF]NXLSRSHQLDPEGFKFF
Z\VL]VDPRFKRGXWDNMDN]Z\NOH
6NXWHNE\WDNLHNRPSOHWQLH]DSOWDDPVLZVXNQLLSRF]XDPVLMDN
SV]F]yND0DMDZSDMF]\QLH7HNOL
3RGF]DVJG\MDNODPDSDQ*HRUJHEH]UDGQLHFKLFKRWD]]HZQWU]NWR
SRGD PL GZLH SRPRFQH GRQLH L QLH SR]RVWDZDR PL QLF LQQHJR MDN ]DSD
RELHLSR]ZROLVLSRVWDZLQDQRJL
-HGQD GR QDOHDD GR *LGHRQD GUXJD GR SDQD :KLWPDQD 3XFLDP MH
MDNE\PQLHSDU]\\
2FK G]LNXM PUXNQDP Z\JDG]DMF SRVSLHV]QLH VXNQL L SUyEXMF
XVSRNRLV]DOHMF\SXOV
$ SRWHP REU]XFLDP Z]URNLHP *LGHRQD L XPLHFKQDP VL 1LH PRJDP
LQDF]HM 1DZHW MHOL PDGDPH 5RVVLQL QLH QD SUyQR Z\FKZDODD XURG
PDWHULDXZNRORU]HPRUVNLHM]LHOHQLDZVSDQLD\VXUGXWUyZQRLEH]IDGHN
RSLQD V]HURNLH UDPLRQD *LGHRQD NWyU\ D SR NODPU\ QD EXWDFK Z\JOGD
ROQLHZDMFRWRELDDSHUXNDZV]\VWNRSVXD
$MXP\ODDPHW\ONRMDEGPXVLDDF]XVLLGLRW\F]QLH
-HJRRF]\E\VQ\]UR]EDZLHQLHP
'REU]HFKRFLDHXGDRPLVLSU]HNRQD*LRUGDQDHE\]UH]\JQRZD]
SXGUXLSLHSU]\NyZ
&y E\ L WDN Z\VWDUF]DMFR EODG\ 3U]H] VHNXQG DOER FR NRR WHJR
]DWUDFLDP VL Z ZLGRNX GHOLNDWQLH ]D]QDF]RQHM OLQLL MHJR SRGEUyGND L ZDUJ
DOHV]\ENRZ]LDPVLZJDULVSRMU]DDPWDNSRQXURMDNW\ONRXPLDDP
5HV]WD F]HND QD GROH OHSLHM VL SRVSLHV]P\ ]DQLP ]UREL VL WX
]ELHJRZLVNRSRZLHG]LDSDQ
:KLWPDQLU]XFLRNLHPQDFKRGQLNQDNWyU\P]DWU]\PD\VLGZLHSDQLH]
SVDPL]HUNDMFQDQDVFLHNDZLH
-HOL 6WUDQLF\ QLH FKF Z]EXG]D VHQVDFML WR PRH SRZLQQL MHG]L
VDPRFKRGDPL NWyUH PQLHM U]XFDM VL Z RF]\" , RF]\ZLFLH QLH ZR]L SR
RNROLF\OXG]LZG]LZQ\FKNRVWLXPDFK
*LGHRQ Z\FLJQ GR DOH Z W\P VDP\P PRPHQFLH ] W\X UR]OHJ VL
JXFK\EU]N
2EHMU]DDP VL ;HPHULXVZ\OGRZD QD GDFKX VDPRFKRGX L SU]H] FKZLO
OHDWDPSDVNLMDNIOGUD
'DMSDQVSRNyMZ\G\V]D1LHPRJOLFLHQDPQLH]DF]HND"3U]HJDSL
Z7HPSLHQDV]RGMD]GSU]H]NRWDRLOH]G\DPVL]RULHQWRZD0XVLDHP
SU]H]FDGURJELHF&KFLDHPVL]WRESRHJQD3RGQLyVVLZVNRF]\
PLQDUDPLLSRF]XDPFRZURG]DMXPRNUHJR]LPQHJRXFLVNX$ZLF
ZLHOND PLVWU]\QL ]DNRQX V]\GHNRZ\FK ZLQHN QLH ]DSRPQLM SRU]GQLH
SRGHSWDSU]\PHQXHFLHWHJRNWyUHJRLPLHQLDQLHZROQRZ\PLHQLD5]XFL
*LGHRQRZL OHNFHZDFH VSRMU]HQLH , XZDDM QD KUDELHJR : MHJR JRVLH
SREU]PLHZDD SUDZG]LZD WURVND 0XVLDDP SU]HNQ OLQ -HOL
QDUR]UDELDV] GRU]XFL MHGQDN Z WHM VDPHM FKZLOL EG]LHV] PXVLDD Z
SU]\V]RFL SRUDG]L VRELH EH]H PQLH %R MD SRV]XNDP MDNLHJR QRZHJR
F]RZLHND8PLHFKQVLEH]F]HOQLHLEH]ZLHONLFKFHUHJLHOLUXV]\QDSV\
NWyUH SU]HUDRQH ]HUZD\ VL ]H VP\F]\ L ] SRGNXORQ\PL RJRQDPL XFLHN\
JG]LHSLHSU]URQLH
*ZHQGRO\Q SLV]" *LGHRQ SRGD PL UDPL 7R ]QDF]\ RF]\ZLFLH
SDQQR*UD\&]\]HFKFHPLSDQLWRZDU]\V]\GRURNX"
=DSRPQLM7HQWHDWU]\N]DF]QGRSLHURZWHG\JG\MXVLWDP]QDMG]LHP\
SRZLHG]LDDP FLFKR HE\ QLH XV\V]HOL PQLH SDQ *HRUJH L SDQ :KLWPDQ
NWyU]\ V]OL SU]HG QDPL 3U]HGWHP ]DPLHU]DP RJUDQLF]\ NRQWDNW IL]\F]Q\ ]
WREGRQLH]EGQHJRPLQLPXPMHOLQLHPDV]QLFSU]HFLZNRWHPX
3R]DW\P]QDPGURJ:NRFXWRPRMDV]NRD
: SLWNRZH SRSRXGQLH Z\JOGDD MDN Z\PDUD : KROX VSRWNDOLP\
G\UHNWRUD *LOOHVD XEUDQ\ MX QLH Z JDUQLWXU OHF] Z VSRGQLH Z NUDWN L
NRV]XONSRORFLJQ]DVREZy]HN]NLMDPLGRJROID
1LH PyJ VRELH MHGQDN RGPyZL VHUGHF]QHJR SU]\ZLWDQLD DPDWRUVNLHJR
]HVSRXWHDWUDOQHJRQDV]HJRGURJLHJRSDQD:KLWPDQD,ZV]\VWNLFKSRNROHL
XUDF]\XFLVNLHPGRQL
'OD PQLH MDNR ZLHONLHJR SURWHNWRUD V]WXNL SU]\MHPQRFL MHVW RGGD
ZDPGRG\VSR]\FMLQDV]V]NRE\FLHSU]HSURZDG]DOLWXSUyE\GRSyNLQLH
PRHFLH X\ZD ZDVQHM VDOL &y WR ]D ]DFKZ\FDMFH NRVWLXP\ .LHG\
GRWDUGRPQLHZUF]JR]DWNDR1RSURV]-D]QDPWWZDU]
7\ SU]HFLH MHVWH MHGQ ] W\FK QLHJU]HF]Q\FK G]LHZF]\QHN RG DE\
SUDZGD"]DS\WD
=PXVLDPVLGRXPLHFKX
7DNSDQLHG\UHNWRU]HSRZLHG]LDDP
1RWREDUG]RVLFLHV]H]QDOD]DVRELHWDNLHSLNQHKREE\1DSHZQR
SU]HVWDQFLMXSU]\FKRG]LGRJRZ\JXSLHSRP\V\2EGDU]\ZV]\VWNLFK
MRZLDOQ\P PLHFKHP \F] ZDP ZLHOX VXNFHVyZ QD VFHQLH F]\ F]HJR VL
WDP \F]\ Z WHDWU]H SRDPDQLD UN L QyJ =DGRZRORQ\ SRPDFKD QDP
MHV]F]HSRF]\PUD]HP]HVZ\PZy]NLHP]QLNQ]DGU]ZLDPL
6SRMU]DDP]DQLP]SHZQ]D]GURFL:\MWNRZRFKWQLHE\PVL]QLP
]DPLHQLD QDZHWMHOL PXVLDDE\PZ ]DPLDQ E\ \VROHPZ UHGQLPZLHNX
XEUDQ\PZVSRGQLHZNUDWN
1LHJU]HF]QD G]LHZF]\QND RG DE\" SRZWyU]\ *LGHRQ JG\ V]OLP\ GR
VDOLZSRG]LHPLDFKL]DFLHNDZLRQ\]HUNQQDPQLH]ERNX
6NXSLDDPFDXZDJQDW\PE\Z\VRNRSRGQRVLV]HOHV]F]FHVSyGQLFH
LQLHSRW\NDVLRQLH
0RMDSU]\MDFLyND/HVOLHLMDNLONDODWWHPX]PXV]RQHE\\P\NROHDQFH
] NODV\ ZR\ SU]HMHFKDQ DE GR ]XS\ L G\UHNWRU *LOOHV FLJOH MHV]F]H PD
QDPWR]D]H
%\\FLH]PXV]RQHZR\NROHDQFH]NODV\DEGR]XS\"
7DN SRWZLHUG]LDP SDWU]F QD QLHJR Z\QLROH =H Z]JOGyZ
SHGDJRJLF]Q\FK WU]HED F]DVHP UREL U]HF]\ NWyUH OXG]LRP ] ]HZQWU] PRJ
Z\GDVLG]LZQH
: SRG]LHPLDFK WX SRG QDPDORZDQ\P QD FLDQLH F\WDWHP ] (GJDUD
'HJDVD2EUD]SRZLQLHQE\PDORZDQ\]WDNVDPSDVM]MDNSU]HVWSFD
GRNRQXMHVZHJRF]\QX]HEUDOLVLZRNyFKURQRJUDIXFLVDPLSRGHMU]DQLFR
]Z\NOH )DON GH 9LOOLHUV SDQ 0DUOH\ L GRNWRU :KLWH NWyU\ QD MHGQ\P ]H
VWRyZ UR]R\ QDU]G]LD OHNDUVNLH L RSDWUXQNL &LHV]\DP VL H
]RVWDZLOLP\Z
7HPSLH SU]\QDMPQLHM *LRUGDQD NWyU\ SU]\SXV]F]DOQLH VWD ZFL QD
VFKRGDFKL]DDP\ZDUFH
3DQ*HRUJHPUXJQGRPQLH
:SDGHP ZDQLH QD GREU\ SRP\V V]HSQ -HOL QLH EG]LHV] MX
ZLHG]LDD FR ]UREL SR SURVWX ]HPGOHM .RELHW\ Z WDPW\FK F]DVDFK QD
RNUJR PGOD\ QLNW QLH ZLH F]\ WR SU]H] FLDVQR ]DV]QXURZDQH JRUVHW\ F]\
SU]H]]DWFKHSRZLHWU]HF]\PRHGODWHJRHWDNE\RSRSURVWXSUDNW\F]QLH
%G WR PLDD QD XZDG]H SRZLHG]LDDP F]XMF SRNXV HE\
QDW\FKPLDVWZ\SUyERZDUDGSDQD*HRUJH
D
1LHVWHW\ *LGHRQ QDMZ\UDQLHM SU]HMU]D PRMH ]DPLDU\ ER Z]L PQLH ]D
UNLOHNNRVLXPLHFKQ
$ SRWHP )DON RGZLQ FKURQRJUDI L NLHG\ NLZQ QD PQLH SRGGDDP VL
VZHPX ORVRZL QLH ]DSRPLQDMFMHGQDNZ\VDZ QLHELRVD PRGOLWZ\ R WR E\
ODG\ %URPSWRQ SU]HND]DD VZHM GREUHM SU]\MDFLyFH F]FLJRGQHM ODG\
3LPSOHERWWRPWDMHPQLFVZRMHJRVSHFMDOQHJRSRQF]X
0RMH Z\REUDHQLD QD WHPDW EDOyZ E\\ PWQH 1DWRPLDVW R EDODFK Z
RVLHPQDVW\P ZLHNX QLH PLDDP EODGHJR SRMFLD =DSHZQH GODWHJR SR ZL]ML
FLRFL 0DGG\ L PRLFK VQDFK G]LVLHMV]HM QRF\ RF]HNLZDDP F]HJR SRPLG]\
EDOHP ] 3U]HPLQR ] ZLDWUHP D KXODQNDPL ] 0DULL $QWRQLQ\ SU]\ F]\P Z
PRLPQLHSLNQHE\RWRHGR]XG]HQLDSU]\SRPLQDDP.LUVWHQ'XQVW
=DQLP MHGQDN PRJDP ]ZHU\ILNRZD VZRMH Z\REUDHQLD QDMSLHUZ
PXVLHOLP\ ZHM GR SLZQLF\ =QRZX 0LDDP ZLHON QDG]LHM H QLH
UR]EXGXMVRELH\GHNSU]H]WRFLJHDHQLHSRVFKRGDFK
0LPR VZHJR QLH]DGRZROHQLD PXVLDDP SU]\]QD H W\P UD]HP 6WUDQLF\
VSU\WQLH ]DDWZLOL VSUDZ )DON WDN XVWDZL FKURQRJUDI H SU]\E\OLP\ QD
PLHMVFHNLHG\EDOWUZDMXRGNLONXJRG]LQ
3RF]XDP RJURPQ XOJ H G]LNL WHPX XQLNQLHP\ GHILORZDQLD SU]HG
JRVSRGDU]DPL:JELGXV]\EDUG]RREDZLDDPVLPLVWU]DFHUHPRQLLNWyU\
]DVWXNDE\ODVNZSRGRJLJRQRREZLHFLQDV]HIDV]\ZHQD]ZLVNDDOER
FRJRUV]DSUDZG3DQLHLSDQRZLH6WXNSXN*LGHRQGH<LOOLHUVL
*ZHQGRO\Q 6KHSKHUG RV]XFL ] GZXG]LHVWHJR SLHUZV]HJR ZLHNX 3URV]
]ZUyFL XZDJ H JRUVHW L NU\QROLQD QLH ]RVWD\ XV]W\ZQLRQH GUXFLDQ\PL
ILV]ELQDPL OHF] QDMQRZRF]HQLHMV]\PL ZyNQDPL ZJORZ\PL 1DZLDVHP
PyZLFFLSDVWZRZHV]OLGRWHJRGRPXSU]H]SLZQLFH
$E\\WRW\PUD]HPZ\MWNRZRFLHPQHSLZQLFHLQLHVWHW\E\DP]PXV]RQD
Z]L*LGHRQD]DUNERLQDF]HMPRMDVXNQLDLMDQLHGRWDU\E\P\FDRQD
JyU 'RSLHUR Z GDOV]HM F]FL SRG]LHPL WDP JG]LH Z PRMHM V]NROH VNUFDR
VL GR SUDFRZQL PXOWLPHGLDOQHM QD FLDQDFK SRMDZL\ VL SRFKRGQLH
U]XFDMFH PLJRWOLZH ZLDWR 1DMZ\UDQLHM XU]G]RQR WXWDM VSLDUQLH FR
]ZD\ZV]\ QD ORGRZDW\ FKyG PLDR VHQV = F]\VWHM FLHNDZRFL U]XFLDP
RNLHP GR MHGQHJR ] SU]\OHJ\FK SRPLHV]F]H L VWDQDP MDN ZU\WD -HV]F]H
QLJG\ QLH ZLG]LDDP QDUD] WDNLHM LORFL MHG]HQLD =DSHZQH SR EDOX
]DSODQRZDQ\E\EDQNLHWERQDVWRDFKLSRGRJDFKSLWU]\\VLQLH]OLF]RQH
SDWHU\ SyPLVNL L ZLHONLH NDG]LH SHQH SU]HG]LZQ\FK SRWUDZ :LHOH ] QLFK
E\R QLH]Z\NOH NXQV]WRZQLH R]GRELRQ\FK L RWXORQ\FK F]\P Z URG]DMX
SU]H]URF]\VWHM JDODUHW\ 2GNU\DP ZLHONLH LORFL SRWUDZ PLVQ\FK NWyUH MDN
QD PyM JXVW E\\ VWDQRZF]R ]E\W DURPDW\F]QH D SR]D W\P RV]DDPLDMFR
GXR VRG\F]\ ZH ZV]\VWNLFK SRVWDFLDFK L UR]PLDUDFK RUD] SR]DFDQ ILJXU
DEG]LDGR]XG]HQLDSU]\SRPLQDMFSUDZG]LZHJRSWDND
3RSDWU]RQLPXV]QDZHWVFKDG]DGHNRUDFMHQDVWyV]HSQDP
*LGHRQSRFLJQPQLHGDOHM
7R QLHMHVW GHNRUDFMD QD VWy7R SUDZG]LZ\ DEG7DN ]ZDQD SRWUDZD
SRND]RZD RGV]HSQ DOH QLHPDO Z WHM VDPHM FKZLOL VL Z]GU\JQ D MD
SU]\]QDM]HZVW\GHPNU]\NQDP
%R RWR ] FLHQLD ]]D G]LHZLWQDVWRSLWURZHJR WRUWX ] GZRPD QLH\Z\PL
VRZLNDPLZFKDUDNWHU]HGHNRUDFMLZ\QXU]\DVLMDNDSRVWDL]REQDRQ
V]SDG]EOL\DVLGRQDV
7R E\ 5DNRF]\ SUDZD UND KUDELHJR D W\P GUDPDW\F]Q\P Z\VWSHP
]DURELE\ QD \FLHZ NDG\P SDDFX VWUDFKyZ 3U]\ZLWD QDV ]DFKU\SQLW\P
JRVHPLGRGDV]HSWHP
&KRGFLH]DPQ
3RGF]DVJG\SUyERZDDPVLXVSRNRL*LGHRQVS\WDJQLHZQLH
&]\QLHSRZLQLHQSDQMXGDZQRQDQDVF]HND"5DNRF]\QLH]DUHDJRZD
FRPQLHQLH]G]LZLR
7RE\WHQW\SNWyU\QLJG\QLHSU]\]QDMHVLGREGyZ
%H] VRZD Z\M ] XFKZ\WX SRFKRGQL NLZQ QD QDV L SU]HPNQ SU]H]
ERF]Q\NRU\WDU]SURZDG]F\GDOHMQDVFKRG\
%\OLP\RVWURQL
'ZLNL VNU]\SLHF L JZDU JRVyZ GRELHJD\ QDV WHUD] ] JyU\ VWDZD\ VL
FRUD]JRQLHMV]HDWXSU]HGNRFHPVFKRGyZ5DNRF]\SXFLQDVSU]RGHP
:UD] ] PRLPL OXGPL EG QDG ZDPL F]XZD ] XNU\FLD SRZLHG]LD SR
F]\P]QLNEH]V]HOHVWQLHMDNODPSDUW
3U]\SXV]F]DP H QLH GRVWD ]DSURV]HQLD U]XFLDP DUWHP :
U]HF]\ZLVWRFL QD P\O H Z NDG\P FLHPQ\P NFLH F]DL VL MHGHQ ] OXG]L
5DNRF]HJRLXNUDGNLHPQDVREVHUZXMHZRV\VWDZD\PLGED
$OHRF]\ZLFLHHMHVW]DSURV]RQ\7\ONRSHZQLHQLHFKFHVLUR]VWDZD
]HVZRMV]SDGWH]DZVDOLEDORZHMV]DEURQLRQH*LGHRQ]PLHU]\PQLH
Z]URNLHP0DV]MHV]F]HSDMF]\Q\QDVXNQL"
6SRMU]DDPQDQLHJR]REXU]HQLHP
-D QLH DOH PRH V Z WZRLP Py]JX SRZLHG]LDDP SU]HSFKQDP VL
RERNQLHJRLRVWURQLHRWZRU]\DPGU]ZL
0DUWZLDP VL MDN PDP\ QLH]DXZDHQL SU]HPNQ GR KROX DOH JG\
ZSDGOLP\ Z ]JLHN L ZU]DZ EDOX ]DGDDP VRELH S\WDQLH SR FR Z RJyOH
WUXG]LOLP\ VL ] W SLZQLF &K\ED W\ONR ] SU]\]Z\F]DMHQLD 0RJOLP\
VSRNRMQLHSU]HVNRF]\SURVWRWXWDMLQLNWE\QLF]HJRQLH]DXZD\
'RPRVWZR ORUGD L ODG\ 3LPSOHERWWRPyZ E\R QDG]Z\F]DM RND]DH PyM
SU]\MDFLHO -DPHV ZFDOH QLH SU]HVDG]L 3DWU]F QD DGDPDV]NRZH WDSHW\
V]WXNDWHULH NU\V]WDRZH \UDQGROH L VXILW\ SRNU\WH IUHVNDPL SUDZLH QLH
PRJDP UR]SR]QD PRMHM VWDUHM SRF]FLZHM V]NR\ 3RGRJL E\\ Z\RRQH
PR]DLNLJUXE\PLG\ZDQDPLDJG\V]OLP\QDSLHUZV]HSLWUR]GDZDRPL
VLHMHVWWDPZLFHMNRU\WDU]\LVFKRGyZQL]DPRLFKF]DVyZ
,E\RWRF]QR7RF]QRLJRQR:QDV]\FKF]DVDFKLPSUH]E\]DPNQLWR
]H Z]JOGX QD ]E\W GX OLF]E XF]HVWQLNyZ DOER VVLHG]L RVNDU\OLE\
3LPSOHERWWRPyZ R ]DNyFDQLH FLV]\ QRFQHM $ ZLG]LHOLP\ GRSLHUR KRO L
NRU\WDU]H
6DOD EDORZD WR E\ ]XSHQLH LQQ\ ZLDW =DMPRZDD Sy SLWUD L D NLSLDD
RG OXG]L 6WDOL Z JUXSNDFK DOER WZRU]\OL GXJLH WDQHF]QH NRURZRG\ 2G
JRVyZ L PLHFKyZ KXF]DR QLF]\P Z XOX SU]\ F]\P WR SRUyZQDQLH Z\GDR
PLVL]E\WDJRGQHSRQLHZDOLF]EDGHF\EHOL]FDSHZQRFLGRUyZQ\ZDD
WHMNWyUDWRZDU]\V]\MXPERMHWRZLVWDUWXMFHPX]+HDWKURZ&]WHU\VWDRVyE
ZU]HV]F]DRGRVLHELHDGZXG]LHVWRRVRERZDRUNLHVWUDQDDQWUHVROLSUyERZDD
WR]DJXV]\&DRUR]ZLHWODDWDNDOLF]EDZLHFHRGUXFKRZRUR]HMU]DDP
VL]DJDQLF
.UyWNR PyZLF EDO PLD VL WDN GR VRLUHH QD NWyU\P E\OLP\ X
%URPSWRQyZ MDN QRF VSG]RQD Z NOXELH GR KHUEDWNL X FLRFL 0DGG\ 7HUD]
SRMDPVNGVLZ]LRRNUHOHQLHKXF]Q\EDO
1DV]H SRMDZLHQLH VL Z VDOL QLH Z\ZRDR ZLNV]HJR ]DLQWHUHVRZDQLD W\P
EDUG]LHM H FD\ F]DV NWR ZFKRG]L L Z\FKRG]L .LONX VSRUyG QRVLFLHOL
ELD\FK SHUXN ZSDWU\ZDR VL Z QDV ] ]DFLHNDZLHQLHP L *LGHRQ PRFQLHM
FKZ\FL PQLH ]D UN &]XDP MDN MHVWHP WDNVRZDQD RG VWyS GR JyZ L
PLDDPZLHONRFKRWVSUDZG]LZOXVWU]HF]\MHGQDNDGQDSDMF]DQLQLH
SU]\F]HSLDPLVLGRVXNQL
:V]\VWNRMHVWZQDMOHSV]\PSRU]GNXSRZLHG]LD*LGHRQ:\JOGDV]
GRVNRQDOH
2GFKU]NQDP]]DHQRZDQLHP*LGHRQXPLHFKQVLGRPQLH
*RWRZD"Z\V]HSWD
*RWRZDMHOLLW\MHVWHJRWyZRGSRZLHG]LDDPEH]]DVWDQRZLHQLD
7DNPLVLSRSURVWXZ\SVQRLQDJOHSU]\SRPQLDDPVRELHMDNGREU]HVL
EDZLOLP\ QLP PQLH WDN SRGOH ]GUDG]L &KR MHGQDN QLH E\D WR D WDND
GREUD]DEDZD
.LONDG]LHZF]W]DF]RV]HSWDJG\SU]HFKRG]LOLP\RERNQLFKLQLHE\DP
SHZQDF]\WR]SRZRGXPRMHMVXNQLF]\GODWHJRHSRGREDLPVL*LGHRQ
7U]\PDDP VL WDN SURVWR MDN W\ONR XPLDDP 3HUXND E\D ]DVNDNXMFR
GREU]HZ\ZDRQDSRGGDZDDVLNDGHPXPRMHPXUXFKRZLFKRZLHONRFL
GRUyZQ\ZDD SHZQLH G]EDQRP ] ZRG MDNLH QRV] QD JRZDFK NRELHW\ Z
$IU\FH
*G\ V]OLP\ SU]H] VDO QLHXVWDQQLH UR]JOGDDP VL Z SRV]XNLZDQLX
-DPHVD:NRFXWRE\EDOMHJRURG]LFyZZLFPXVLDE\QDQLPREHFQ\
*LGHRQ SU]HZ\V]DMF\ ZLNV]R RVyE R SRQDG JRZ V]\ENR GRVWU]HJ
KUDELHJR GH 6DLQW *HUPDLQ 6LHG]LD ] QLH]UyZQDQ HOHJDQFM QD ZVNLP
EDONRQLHLUR]PDZLD]QLVNLPNRORURZRXEUDQ\PPF]\]QNWyU\Z\GDPL
VL]QDMRP\
1LH ]DVWDQDZLDMF VL ]E\WQLR ]JLDP VL Z JERNLP UHZHUDQVLH DOH MX
SR FKZLOL WHJR SRDRZDDP ER SU]\SRPQLDR PL VL MDN Z F]DVLH QDV]HJR
RVWDWQLHJR VSRWNDQLD KUDELD DJRGQ\P JRVHP UR]WU]DVND PRMH VHUFH QD
G]LHVLWNLW\VLF\FLHQLXWNLFKNDZDHF]NyZ
0RMHGURJLHG]LHFLMHVWHFLHSXQNWXDOQLFRGRPLQXW\RGH]ZDVLKUDELD
LSU]\ZRDQDVJHVWHP
0QLH NLZQ DVNDZLH JRZ ]DSHZQH VSRWND PQLH KRQRU ]ZD\ZV]\
HMDNR NRELHWD E\DP REGDU]RQD QLV]\P LORUD]HP LQWHOLJHQFML VLJDMF\P
OHGZLH RG GU]ZL EDONRQX GR QDMEOLV]HM ZLHF\ *LGHRQ QDWRPLDVW ]RVWD
SU]\ZLWDQ\VHUGHF]Q\PXFLVNLHP
, FR SRZLHV] $OFRWW" :LG]LV] FR ] PRLFK JHQyZ Z W\P SLNQ\P
PRG]LHFX"
3VWU\ MDN SDSXJD PF]\]QD ] XPLHFKHP SRWU]VQ JRZ -HJR ZVND
SRFLJD WZDU] QLH W\ONR E\D XSXGURZDQD DOH MHV]F]H PLDD Uy QD
SROLF]NDFKQLF]\PXNODXQD
,VWQLHMHFK\EDSHZQHSRGRELHVWZRZSRVWDZLH
-DNHE\ PRQD SRUyZQ\ZD W PRG WZDU] ] PRM" +UDELD
DXWRLURQLF]QLH ]PDUV]F]\ XVWD /DWD ]QLV]F]\\ PRMH U\V\ F]DVHP VDP
QLHPDO QLH PRJ VL SR]QD Z OXVWU]H 3RZDFKORZD VL FKXVWHF]N 1D
PDUJLQHVLH SR]ZRO VRELH SU]HGVWDZL F]FLJRGQ\ $OEHUW $OFRWW REHFQLH
3LHUZV]\6HNUHWDU]/R\
6SRWNDOLP\ VL MX Z F]DVLH UR]PDLW\FK ZL]\W Z 7HPSLH U]HN *LGHRQ
OHNNRVLNDQLDMF
2FKWDNIDNW\F]QLH+UDELDVLXPLHFKQ
7HUD] MX ZLHG]LDDP VNG ]QDP W SDSXJ 3RGF]DV QDV]HJR SLHUZV]HJR
VSRWNDQLD]KUDELWHQF]RZLHNSU]\MQDVZ7HPSLHLSRGVWDZLSRZy]SRG
GRPORUGD%URPSWRQD
1LHVWHW\VSyQLOLFLHVLQDZHMFLHSDU\NVLFHMSRZLHG]LD)U\]XUD
-HM :\VRNRFL Z]EXG]LD VSRU ]D]GUR 2EDZLDP VL H ORQG\VF\
SHUXNDU]HMXWURQLHEGVLPRJOLRSG]LRGNOLHQWyZ
.VLQDWRQDSUDZGSLNQDNRELHWDZWUFLKUDELD-DNDV]NRGDH
F]XMH VL SRZRDQD GR WHJR E\ PLHV]D VL Z PVNLH VSUDZ\ L Z SROLW\N
$OFRWWF]\E\RE\PROLZHSRGDQLHQRZ\PJRFLRPF]HJRGRSLFLD"
7DN MDN WR F]VWR E\ZDR KUDELD PyZL FLFKR L DJRGQLH OHF] PLPR
RWDF]DMFHJR QDV KDDVX GDR VL JR ]UR]XPLH D QDGWR GREU]H 1D GZLN
MHJR JRVX SU]HV]\ PQLH GUHV]F] L WR QD SHZQR QLH ]D VSUDZ FKRGQHJR
QRFQHJRSRZLHWU]DNWyUHZQLNDRSU]H]RWZDUWHGU]ZLEDONRQX
2F]\ZLFLH 6ZRM JRUOLZRFL 3LHUZV]\ 6HNUHWDU] SU]\SRPLQD SDQD
0DUOH\D%LDHZLQR"=DFKZLOZUDFDP
&KROHUD1LHPDSRQF]X
+UDELD SRF]HND D $OFRWW ]QLNQLH Z VDOL EDORZHM D SRWHP VLJQ GR
NLHV]HQLVXUGXWDLZ\M]DSLHF]WRZDQNRSHUWNWyUSRGD*LGHRQRZL
7R MHVW OLVW GR WZRMHJR :LHONLHJR 0LVWU]D =DZLHUD V]F]HJy\ QDV]HJR
QDMEOLV]HJRVSRWNDQLD
*LGHRQ VFKRZD OLVW L Z UHZDQX WDNH SRGD KUDELHPX ]DSLHF]WRZDQ
NRSHUW
=QDMGXMHVLZQLHMV]F]HJyRZ\UDSRUW]Z\GDU]HRVWDWQLFKGQL8FLHV]\
FL SDQLH JG\ XV\V]\V] H NUHZ (ODLQH %XUJKOH\ L ODG\ 7LOQH\ ]RVWDD
ZF]\WDQDGRFKURQRJUDIX
:]GU\JQDPVL/DG\7LOQH\"-DNRQWR]RUJDQL]RZD":F]DVLHQDV]HJR
RVWDWQLHJRVSRWNDQLDQLHVSUDZLDDZUDHQLDH]DPLHU]DGREURZROQLHRGGD
NUHZ 1LHXIQLH ]HUNQDP QD *LGHRQD &K\ED QLH SREUD RG QLHM NUZL
SU]HPRF" 2F]DPL Z\REUDQL ]REDF]\DP MDN ]GHVSHURZDQD U]XFD Z QLHJR
V]\GHNRZ\PLZLQNDPL
+UDELDSRNOHSDJRSRSOHFDFK
$ZLFEUDNXMHMHV]F]HW\ONRV]DILUXLF]DUQHJRWXUPDOLQX2SDUVLQD
ODVFH DOH Z W\P JHFLH QLH E\R DGQHM VDERFL 3U]HFLZQLH Z\JOGD QD
QLH]Z\NOHSRWQHJR2FKJG\E\RQZLHG]LDMDNEOLVNRMXMHVWHP\WHJR
E\ ]PLHQL ZLDW 5XFKHP JRZ\ ZVND]D VDO EDORZ JG]LH SR GUXJLHM
VWURQLHGRVWU]HJDPORUGD$ODVWDLUD]6RMXV]X)ORUHQFNLHJR
7DN MDN RVWDWQLP UD]HP E\ REZLHV]RQ\ ELXWHUL D EODVN OLF]Q\FK
SLHUFLHQL GRFKRG]L GR QDV QDZHW ] WHM RGOHJRFL 3RGREQLH MDN MHJR
VSRMU]HQLH ORGRZDWH L QLHQDZLVWQH =D ORUGHP GRVWU]HJDP ]RZLHV]F]
XEUDQ QD F]DUQR SRVWD DOH W\P UD]HP QLH SRSHQLDP WHJR EGX E\
SRP\OL M ] MDNLP JRFLHP 7R E\ GXFK NWyU\ SU]\QDOHD GR ORUGD
$ODVWDLUDWDNMDNPD\5REHUWGRGRNWRUD:KLWH
D.LHG\PQLHGRVWU]HJMHJR
XVWD SRUXV]\\ VL D MD VL XFLHV]\DP H QLH PRJ GRV\V]H MHJR
SU]HNOHVWZ:\VWDUF]\RHQDZLHG]DPQLHZNRV]PDUQ\FKVQDFK
6WRL WDP L PDU]\ R W\P E\ SU]HV]\ QDV V]SDG SRZLHG]LD KUDELD
QLHRPDO]]DGRZROHQLHP2GZLHOXGQLQLHP\OLRQLF]\PLQQ\P8GDRPX
VL QDZHW SU]HP\FL V]SDG QD VDO EDORZ 3RWDU VRELH SRGEUyGHN
GODWHJR DQL QLH WDF]\ DQL QLH VLDGD W\ONR VWRL V]W\ZQR L QLHUXFKRPR MDN
RRZLDQ\RQLHU]\NF]HNDMFQDRND]M
$PQLHQLHSR]ZRORQRZ]LV]SDG\RGH]ZDVL]Z\U]XWHP*LGHRQ
1LHEyMVLFKRSF]H5DNRF]\LMHJROXG]LHQLHVSXV]F]$ODVWDLUD]RND
3U]HOHZDQLHNUZLSR]RVWDZLP\G]LZLHF]yUG]LHOQ\PNXUXFRP
3RQRZQLH VSRMU]DDP QD ORUGD $ODVWDLUD L RG]LDQHJR QD F]DUQR GXFKD
NWyU\ZDQLHZPRUGHUF]\PJHFLHZ\FLJQZPRMVWURQPLHF]
$OH RQ QDV SU]\ ZV]\VWNLFK WR ]QDF]\ FK\ED Z RVLHPQDVW\P ZLHNX
WH QLH PRQD E\R WDN EH]NDUQLH PRUGRZD" 3U]HNQDP OLQ /RUG
$ODVWDLUQLH]DU\]\NRZDE\SU]HFLHHWUDILQDV]XELHQLF]QDV]HJRSRZRGX
SUDZGD"
&LNLH SRZLHNL VNU\ZD\ SU]H] NLOND VHNXQG FLHPQHRF]\ KUDELHJRMDNE\
NRQFHQWURZDVLQDP\ODFKVZHJRSU]HFLZQLND
1LH QD WR MHVW ]E\W SU]HELHJ\ RGU]HN SRZROL $OH ZLH WH H QLH
EG]LH PLD ZLHOX VSRVREQRFL E\ PLH ZDV RERMH Z ]DVLJX UNL 1LH FKFH
ZLF SU]HSXFL WHM RND]ML 3RQLHZD SRZLHG]LDHP F]RZLHNRZL NWyUHJR
XZDDP ]D ]GUDMF Z QDV]\FK V]HUHJDFK L W\ONR MHPX R NWyUHM EG]LHFLH
PXVLHOL VL XGD GR SRG]LHPL DE\ ] SRZURWHP SU]HVNRF]\ Z F]DVLH VDPL L
QLHX]EURMHQL]REDF]\P\FRVLZ\GDU]\
2FKDOH]DF]DP+UDELDXQLyVGR
1LH PDUWZ VL G]LHFNR =GUDMFD QLH ZLH H 5DNRF]\ L MHJR OXG]LH EG
ZDVFD\F]DVSLOQRZD
$ODVWDLURZL PDU]\ VL ]EURGQLD GRVNRQDD %R SU]HFLH ]ZRNL SUDNW\F]QLH
UR]S\Q VL Z SRZLHWU]X =DPLD VL : PRLP SU]\SDGNX WR E\
RF]\ZLFLHQLH]DG]LDDRZLFGODPQLH]DSODQRZDLQQPLHU1RHNVWUD
1LP ]G\DP SU]HWUDZL ZLDGRPR H PRQD SRZLHG]LH ]QDOHOLP\
VLQDOLQLLVWU]DXFRQLH]PLHQLRPRMHJRQDVWDZLHQLDGRWHJREDOXRJyOQLHL
Z V]F]HJyDFK NRORURZ\ 3LHUZV]\ 6HNUHWDU] MX ]G\DP ]DSRPQLH MHJR
QD]ZLVNRZUyFL]GZRPDNLHOLV]NDPLELDHJRZLQD=DQLPV]HGLQQ\QDV]
VWDU\ ]QDMRP\ RSDV\ ORUG %URPSWRQ 8FLHV]\ VL SRQDG ZV]HON PLDU
ZLG]FQDVSRQRZQLHLFDRZDPRMGRRZLHOHGXHMQLQDND]\ZD\E\WR
GREUHRE\F]DMH
2FKZLHF]yUMHVWXUDWRZDQ\]DZRD7DNVLFLHV]/DG\%URPSWRQL
ODG\ /DYLQLDMXZDVZLG]LD\ DOH ]DWU]\PDQRMH QD SDUNLHFLH =DPLD VL
WDNH]DWU]VPXVLJUXE\EU]XFK
3ROHFRQRPLZ\FLJQZDVQDWDFH
7RGREU\SRP\VSRZLHG]LDKUDELD0RG]LOXG]LHSRZLQQLWDF]\-D
ZVZRLFKPRG\FKODWDFKQLHSU]HSXFLHPDGQHMRND]ML
1R ]DF]\QD VL 3U]\V]HG F]DV QD GZLH OHZH QRJL L SUREOHP WHJR JG]LH
SUDZR JG]LH OHZR RNUHODQ\ SU]H] *LRUGDQD MDNR VNDQGDOLF]QH ]DEXU]HQLD
RULHQWDFML&KFLDDPZ\SLZLQRGXV]NLHPDOH*LGHRQ]G\MXSRGZG]L
PLNLHOLV]HNLRGGDJR3LHUZV]HPX6HNUHWDU]RZL
1DSDUNLHFLHXVWDZLDQRVLZDQLHGRNROHMQHJRPHQXHWD/DG\%URPSWRQ
SRPDFKDDGRQDV]HQWX]MD]PHP/RUG%URPSWRQ]QLNQZWXPLHDPQLH
*LGHRQ ]G\ MHV]F]H QLP UR]OHJD VL PX]\ND XPLHFL Z U]G]LH SD
FLOHU]HF]ELRUFPLG]\EODGR]RWDKDIWRZDQQD]LHORQRVXNQL=LHORQD
QDOHDD GR ODG\ /DYLQLL FR VWZLHUG]LDP SDWU]F NWHP RND %\DWDN VDPR
SLNQDMDNM]DSDPLWDDPDEDORZ\VWUyMSR]ZDODQDZHWMDNQDWPRFQR
IU\ZROQ PRG EDUG]R JERNR ]DMU]HMHM Z GHNROW 1D PLHMVFX ODG\ /DYLQLL
QLH PLDDE\P RGZDJL VL VFK\OL $OH Z\GDZDD VL W\P ZFDOH QLH
SU]HMPRZD
-DNFXGRZQLHZDVZLG]LH8PLHFKQDVLSURPLHQQLHV]F]HJyOQLHGR
*LGHRQDE\]DUD]SRWHPVNRQLVLZSLHUZV]\PUHZHUDQVLH
=URELDPWRVDPRFRRQDLZDWDNXSDQLNLZRJyOHSU]HVWDDPF]XZDVQH
QRJL
3U]H] JRZ SU]HP\ND\ PL OLF]QH ZVND]yZNL L R PD\ ZRV QLH ]DF]DP
PDPURWD /HZR WR WDP JG]LH NFLXN MHVW SR SUDZHM VWURQLH DOH *LGHRQ
PLQPQLHZDQLHZWRXUOHPDLQLPRMHQRJLZ]DG]LZLDMF\VSRVyEVDPH
RGQDOD]\U\WP
8URF]\VWH GZLNL RUNLHVWU\ Z\SHQL\ VDO D GR QDMGDOV]HJR NWD D
UR]PRZ\ZRNyQDVXFLFK\
*LGHRQXMVLOHZUNSRGERNLSRGDPLSUDZ
&XGRZQ\ MHVW WHQ PHQXHW +D\GQD RGH]ZD VL OHNNLP WRQHP &]\
ZLHG]LDD H WHQ NRPSR]\WRU RPDO QLH SU]\VWSL GR 6WUDQLNyZ" =D MDNLH
G]LHVLODWZF]DVLHMHGQHM]HVZ\FKSRGUy\GR$QJOLL5R]ZDDZWHG\F]\
QLHRVLHGOLVLZ/RQG\QLHQDVWDOH
1LH PyZ 0LQDP JR WDQHF]Q\P NURNLHP L SU]HFK\OLDP JRZ
RGURELQZ ERN HE\ QLH WUDFL JR ] SRODZLG]HQLD 'R WHMSRU\ZLHG]LDDP
W\ONRH+D\GQGUF]\G]LHFL
3U]\QDMPQLHM PQLH GUF]\ Z G]LHFLVWZLH D WR ZWHG\ JG\ &KDUORWWD
ZLF]\D VRQDW\ IRUWHSLDQRZH ] WDNLP VDP\P ]DFLFLHP ] MDNLP WHUD]
V]XNDDFKURQRJUDIX
7HJR MHGQDN QLH PRJDP MX *LGHRQRZL Z\WXPDF]\ ER W\PF]DVHP ]
SRF]ZyUQHM ILJXU\ SU]HV]OLP\ GR GXHJR NyND L PXVLDDP VL
VNRQFHQWURZDQDW\PHUXFKRGE\ZDVLZSUDZR
1LH ZLHG]LDDP ZDFLZLH GODF]HJR DOH QDUD] ]DF]R PL WR VSUDZLD
SUDZG]LZSU]\MHPQR
ZLHFHU]XFD\FXGRZQHZLDWRQDZVSDQLDHZLHF]RURZHVXNQLHPX]\ND
ZFDOH MX QLH EU]PLDD VWDURPRGQLH OHF] GRNDGQLH WDN MDN WU]HED D SU]HGH
PQ ]D PQ L RERN PQLH EH]WURVNR PLDOL VL WDQFHU]H 1DZHW SHUXNL QLH
Z\JOGD\ MX WDN NRPLF]QLH L SU]H] FKZLO SRF]XDP VL OHNNR L VZRERGQLH
.LHG\NUJVLUR]V\SDSRV]\ERZDDPZVWURQ*LGHRQDMDNJG\E\PSU]H]
FDH \FLH QLH URELD QLF LQQHJR D RQ VSRMU]D QD PQLH WDN MDNE\P\ QDJOH
]QDOHOLVLZWHMVDOL]XSHQLHVDPL
: WHM PRMHM G]LZQHM HXIRULL PRJDP W\ONR SURPLHQQLH VL XPLHFKD QLH
EDF]FQDXZDJL
*LRUGDQD E\ Z RVLHPQDVW\P ZLHNX QLJG\ SU]HQLJG\ QLH SRND]\ZD
]EyZ=MDNLHJRSRZRGXPyMXPLHFKQDMZ\UDQLHMFDNRZLFLH]EL*LGHRQD
] WURSX 8M PRM Z\FLJQLW GR OHF] ]DPLDVW SRR\ VZRMH SDOFH OHNNR
SRGPRLPLXFLVQMPRFQR
*ZHQGRO\QMXQLJG\QLNRPXQLHSR]ZRO
1LHGDQHPLVLE\RGRZLHG]LHQDFRQLJG\QLNRPXQLHSR]ZROLERZWHM
VDPHMFKZLOLODG\
/DYLQLDFKZ\FLDJR]DUNSU]HNDGDMFPRMZGRVZHJRSDUWQHUD
=DPLHQLP\VLQDFKZLO]JRGD"]DSURSRQRZDD]HPLHFKHP
1LHR]JRG]LH]PRMHMVWURQ\QLHPRJRE\PRZ\L*LGHRQWH]DZDKDVL
SU]H]PRPHQW3RWHPMHGQDNVNRQLVLSU]HGODG\/DYLQLL]RVWDZLPQLHQD
ORG]LHMDNQLFQLH]QDF]FPRGV]NX]\QNNWyUZJUXQFLHU]HF]\E\DP
0RMDHXIRULD]QLNDWDNV]\ENRMDNVLSRMDZLD-XSU]HGWHPSRG]LZLDHP
SDQL ] GDOHND RGH]ZD VL PyM QRZ\ SDUWQHU NLHG\ SRGQLRVDP VL ]
UHZHUDQVX L SRGDDP PX UN 1DMFKWQLHM RG UD]X E\P JR SXFLD ER MHJR
SDOFH E\\ ZLOJRWQH L OHSNLH 0yM SU]\MDFLHO SDQ 0HUFKDQW PLD
SU]\MHPQRVSRWNDSDQLQDVRLUHHXODG\%URPSWRQ
&KFLD QDV ]H VRE SR]QD $OH WHUD] PRJ ]UREL WR VDP -HVWHP ORUG
)OHHW7HQORUG)OHHW
8PLHFKQDP VL XSU]HMPLH 3U]\MDFLHO SDQD 'XJLH DSVND DKD *G\
NROHMQD VHNZHQFMD NURNyZ RGGDOLD QDV RG VLHELH PLDDP QDG]LHM H ORUG
)OHHW Z\NRU]\VWD RND]M HE\ Z\WU]H VRELH ZLOJRWQH GRQLH R VSRGQLH
UR]HMU]DDP VL V]XNDMF SRPRF\ X *LGHRQD $OH RQ ]GDZD VL FDNRZLFLH
SRFKRQLW\ ODG\ /DYLQL 0F]\]QD RERN UyZQLH ZSDWU\ZD VL Z QL F]\
UDF]HMZMHMGHNROWFHORZRRPLMDMFZ]URNLHPZDVQSDUWQHUN$PF]\]QD
RERNRPyM%RH7RE\
-DPHV0yM-DPHV:UHV]FLHJR]QDOD]DP7DF]\]G]LHZF]\QZVXNQL
ZNRORU]HPXVXOLZNRZHJRLZ\JOGDWDN]GURZRMDNW\ONRPRQDZ\JOGD
ZELDHMSHUXFHL]XSXGURZDQQDELDRWZDU]
=DPLDVWSRQRZQLHSRGDUNORUGRZL)OHHWRZLPLQDPZWDFX*LGHRQD
LODG\/DYLQLL]EOL\DPVLGR-DPHVD
3U]HVXZDP\ VL ZV]\VF\ R MHGQR PLHMVFH GR SU]RGX SRZLHG]LDDP
QDMXSU]HMPLHMMDNXPLDDPQLH]ZDDMFQDSURWHVW\-HV]F]HGZLH]PLDQ\L
MXVWDDPQDSU]HFLZ-DPHVD3U]HSUDV]DPSU]HVXZDP\VLW\ONRUD]
3RSFKQDP OLZNRZ G]LHZF]\Q ZSURVW Z UDPLRQD VWRMFHJR QDSU]HFLZ
QLHM PF]\]Q\ D SRWHP SRGDDP -DPHVRZL GR L ]G\V]DQD SUyERZDDP
]DSD]SRZURWHPU\WP6SRMU]HQLHZOHZRSRND]DRPLHLQQLWHXVWDZLDOL
VL QD QRZR L WDF]\OL GDOHM MDNE\ QLF VL QLH VWDR 1D *LGHRQD QD ZV]HONL
Z\SDGHNQLHSDWU]\DP]DPLDVWWHJRJDSLDPVLQD-DPHVD1LHGRZLDU\H
PRJDPWU]\PDJR]DUNLWDUNDE\DFLHSDL\ZD
6SRWNDDPW\ONRVWDUHJRSU]\MDFLHOD
6SRMU]DDP QD -DPHVD &LHNDZH F]\ SRWUDNWRZD PQLH SRZDQLH 3HZQLH
QLH&LJOHNUFLJRZ
0XVLV] VL ]D ZV]HON FHQ U]XFD Z RF]\ FR" V\NQ *LGHRQ
'ODF]HJRSU]H]WU]\JRG]LQ\QLHPRHV]URELWHJRFRFLVLPyZL"
+P GXUQH S\WDQLH 2F]\ZLFLH GODWHJR H MHVWHP NRELHW L ZV]HONL
UR]VGHN MHVW PL REF\ $ QDZLDVHP PyZLF WR W\ SLHUZV]\ Z\V]HGH ]
V]HUHJX]WODG\NWyUHMELXVW]DFKZLOZ\VNRF]\]GHNROWX
7DNDOHW\ONRGODWHJRHRQD$FKGDMMXZUHV]FLHVSRNyM
6DPGDMVSRNyM
6SLRUXQRZDOLP\ VL QDZ]DMHP Z]URNLHP NLHG\ Z\EU]PLD RVWDWQL WRQ
VNU]\SLHF1DUHV]FLH7RFK\EDE\QDMGXV]\PHQXHWZLDWD=XOJ]JLDP
VL Z UHZHUDQVLH L RGZUyFLDP VL QLP *LGHRQ ]G\ SRGD PL UN F]\
UDF]HM]DSDPRM%\DP]DQDVLHELH]DWQLH]E\WSU]HP\ODQUR]PRZ]
-DPHVHPZ\GDZDRPLVLUDF]HMPDRSUDZGRSRGREQHE\SRMDZLVLMXWUR
ZSDUNX
0XVLDDPSRJDGD]QLPMHV]F]HUD]LVSUyERZDSRZLHG]LHPXSUDZG
*G]LH RQ E\"7H LGLRW\F]QH ELDH PVNLH SHUXNLZV]\VWNLHZ\JOGD\ WDN
VDPR :\FLJQDP V]\M V]XNDMF JR Z]URNLHP -X PL VL ]GDZDR H
GRMU]DDPF]HUZRQ\DNVDPLWQ\VXUGXW-DPHVDJG\*LGHRQSU]\WU]\PDPQLH
]DRNLH
7G\U]XFLNUyWNR
0LDDP GRV\ MHJR DSRG\NW\F]QHJR WRQX $OH QLH PXVLDDP VL JR
SR]E\ZDJG\]DMDVLW\PODG\/DYLQLDNWyUDZVXQDVLPLG]\QDVZ
RERNXR]DSDFKXNRQZDOLL
3DQSU]\U]HNPLMHV]F]HMHGHQWDQLHFSRZLHG]LDDQDGVDQDL]DUD]VL
XPLHFKQDDQDMHMSROLF]NDFKSRMDZL\VLXURF]HGRNL
/RUG%URPSWRQWRURZDVRELH]DQLGURJSU]H]WXP
1R'RV\WDFDQDWHQVH]RQR]QDMPL3RZROLURELVL]DJUX]D
VWDU\QDWHSU]\MHPQRFL$SURSRVSU]\MHPQRFLF]\NWRMHV]F]HSUyF]PQLH
ZLG]LD PRM GURJ PDRQN ] W\P G]LDUVNLP NRQWUDGPLUDHP NWyU\
SRGREQRFDNLHPQLHGDZQRVWUDFLUNZELWZLH"7RZV]\VWNRSORWNL
-DPHVD$OHQLHPRJDPJRQLJG]LHGRVWU]HF=REDF]\DP]DWRHFDNLHP
EOLVNRWDF]ODG\
/DYLQLD L *LGHRQ L ]DNXR PQLH JG\ VWZLHUG]LDP MDN GREU]H UD]HP
Z\JOGDM 1DZHW NRORU\ LFK VWURMyZ SDVRZD\ GR VLHELH MDNE\ RVRELFLH
Z\EUDD MH PDGDPH 5RVVLQL =D NDG\P UD]HP JG\ LFK UFH VL GRW\ND\
]GDZDR VL H SU]HODWXM PLG]\ QLPL HOHNWU\F]QH LVNU\ L QDMZ\UDQLHM
IDQWDVW\F]QLH VL ]H VRE EDZLOL =GDZDR PL VL H SHUOLVW\ PLHFK ODG\
/DYLQLLV\V]DWXWDM
2ELH VWDUH SDQQ\ RERN PQLH WVNQLH ZHVWFKQ\ *ZDWRZQLH ZVWDDP
1DSUDZG QLH PXVLDDP VRELH WHJR UREL &]\ WR QLH F]HUZRQ\ VXUGXW
-DPHVDZDQLH]QLNQZMHGQ\P]Z\M"
3RVWDQRZLDPSyM]DQLP7RE\ZNRFXMHJRGRPDPRMDV]NRDZLF
MDNRJR]QDMG$SRWHPVSUyEXMZ\SURVWRZDWKLVWRUL]+HNWRUHP
:\FKRG]F]VDOLU]XFLDPMHV]F]HNRQWUROQHVSRMU]HQLHQDORUGD$ODVWDLUD
NWyU\ ZFL VWD Z W\P VDP\P PLHMVFX QLH VSXV]F]DMF KUDELHJR ] RF]X
-HJR WRZDU]\V] GXFK Z\PDFKLZD ]RZLHV]F]R PLHF]HP L EH] ZWSLHQLD
FKDUF]DSU]\W\PQLHQDZLVWQHKDVDDGHQ]QLFKPQLHQLH]DXZD\
0RM XFLHF]N QDWRPLDVW QDMZ\UDQLHM ]DUHMHVWURZD *LGHRQ : V]HUHJDFK
WDF]F\FK]DSDQRZDQLHSRNyM
&KROHUD2GZUyFLDPVLLZ\V]DP.RU\WDU]HE\\QLNRRZLHWORQHDOHWX
QD ]HZQWU] NELR VL MHV]F]H PQyVWZR JRFL 0LDDP ZUDHQLH H E\R
ZUyGQLFKQLHPDRSDUNWyUHV]XND\XVWURQQHJRPLHMVFDDWXQDSU]HFLZ
VDOL EDORZHM ]QDMGRZD VL VZHJR URG]DMX VDORQ JLHU GR NWyUHJRZ\FRIDR VL
NLONXSDQyZ'\PF\JDUSU]HQLNDSU]H]XFK\ORQHGU]ZL=GDZDRPLVLH
QD NRFX NRU\WDU]D ZLG] F]HUZRQ\ VXUGXW -DPHVD VNUFDMFHJR ]D UyJ
3RELHJDP ]D QLP WDN V]\ENR MDN SR]ZDODD PL QD WR VXNQLD .LHG\
GRSDGDP GR NROHMQHJR NRU\WDU]D QLH E\R SR QLP ODGX FR ]QDF]\R H
PXVLD ]QLNQ Z MHGQ\P ] SRNRL 2WZRU]\DP QDMEOLV]H GU]ZL L ]DUD]
]DPNQDPMH]SRZURWHPNLHG\VPXJDZLDWD]NRU\WDU]DREMDV]H]ORQJ
SU]HGNWyU\PNOF]DPF]\]QDQLHE\WR-DPHV]GHMPXMF\MDNLHMGDPLH
SRF]RFK\ +P MHOL Z W\P SU]\SDGNX Z RJyOH PRQD PyZL R GDPLH
8PLHFKQDPVLSRGQRVHPUXV]DMFZVWURQNROHMQ\FKGU]ZL:JUXQFLH
U]HF]\JRFLHWHMLPSUH]\QLHV]F]HJyOQLHUyQLOLVLRGW\FK]QDV]\FKF]DVyZ
=DPRLPLSOHFDPLUR]OHJ\VLGRQRQHJRV\
&]HPXWDNSG]LV]SDQLH"&]\QLHPRHV]]RVWDZLVZRMHMVLRVWU\FKRE\
QDSLPLQXW"%H]ZWSLHQLDE\DWRODG\/DYLQLD
%\VNDZLF]QLH ZVXQDP VL GR QDMEOLV]HJR SRNRMX L RSDUDP VL RG
ZHZQWU]RGU]ZLHE\]DSDRGGHFK
7FKyU]ZLHOHUD]\XPLHUDQLPXPU]H
&]RZLHNZDOHF]Q\NRQDW\ONRUD]
=HZV]\VWNLFKG]LZyZRMDNLFKV\V]DHP
1DMEDUG]LHM]GXPLHZDPQLHMHGHQ
HOXG]LHERMVLPLHUFLFKRZLHG]
HPXVLQDGHMSUG]HMF]\SyQLHM
:LOOLDP6]HNVSLU-XOLXV]&H]DUDNW,,VFHQD,,SU]H6WDQLVDZ%DUDF]DN
5R]G]LD
.X PRMHPX ]G]LZLHQLX QLH E\R WX FLHPQR 3RNyM UR]ZLHWODR NLOND ZLHF
U]XFDMF\FK EODVN QD V]DI ] NVLNDPL L ELXUNR 1DMZ\UDQLHM WUDILDP GR
F]\MHJRJDELQHWX.WyU\QLHE\SXVW\
1D NU]HOH ]D ELXUNLHP VLHG]LD 5DNRF]\ SU]HG QLP VWD NLHOLV]HN L GZLH
EXWHONL-HGQD]DZLHUDDFLHPQ\S\QSU]\SRPLQDMF\F]HUZRQHZLQRGUXJD
R]GREQD Z\JLWD NROED E\D Z\SHQLRQD F]\P SRGHMU]DQ\P Z NRORU]H
EUXGQHMV]DURFL6]SDGDEDURQDOHDDZSRSU]HNQDELXUNX
6]\ENR SRV]R RGH]ZD VL 5DNRF]\ D MHJR JRV R WZDUG\P
ZVFKRGQLRHXURSHMVNLP DNFHQFLH EU]PLD WURFK QLHZ\UDQLH :DQLH
]D\F]\HP VRELH E\ VSRWND DQLRD D WX RWZLHUDM VL EUDP\ QLHELRV L
]V\DM PL QDMPLOV]HJR DQLRD MDNLHJR PDM GR ]DRIHURZDQLD 7R FXGRZQH
OHNDUVWZRSU]HZ\V]DZV]\VWNRF]HJRSUyERZDHPGRWHMSRU\
&]\ QLH SRZLQLHQH SDQLH HHH VWU]HF QDV SRWDMHPQLH" ]DS\WDDP
]DVWDQDZLDMF VL F]\ QLH SRZLQQDP RSXFL WHJR SRNRMX PLPR U\]\ND
VSRWNDQLD*LGHRQD
5DNRF]\ QDZHW FDNLHP WU]HZ\ EXG]L ZH PQLH QLHSRNyM 0RMH VRZD
MHGQDNQLHFRJRRWU]HZL\
=PDUV]F]\F]RR
$FKWRW\SDQLSRZLHG]LDFLJOHMHV]F]HQLHZ\UDQLHDOHMX]QDF]QLH
PQLHMUR]SURPLHQLRQ\
7RQLHDQLRW\ONRPDDJXSLDG]LHZF]\QND-HGQ\PPLNNLPUXFKHP
WDN V]\ENLP H QLHPDO QLHGRVWU]HJDOQ\P FKZ\FL ]H VWRX NROE L SRGV]HG
GR PQLH %yJ MHGHQ ZLH F]\P VL QDIDV]HURZD DOH QDMZ\UDQLHM Z DGHQ
VSRVyE QLH ]DEXU]\R WR MHJR ]GROQRFL PRWRU\F]Q\FK : NDG\P UD]LH
EDUG]RSLNQDPDDJXSLDG]LHZF]\QND
7HUD]E\WDNEOLVNRHSRF]XDPMHJRRGGHFK&]XE\RZLQRLMHV]F]HFR
RVWU]HMV]HJRQLH]QDQHJR:ROQUNSRJDG]LPQLHSRSROLF]NXLSU]HMHFKD
V]RUVWNLPNFLXNLHPSRPRMHMGROQHMZDUG]H6NDPLHQLDDP]HVWUDFKX
=DR VL H WH ZDUJL QLH SRSHQL\ MHV]F]H QLJG\ QLF]HJR ]DND]DQHJR
SUDZGD"\NFXGRZQHMPLNVWXU\$OFRWWDWR]PLHQL
1LH G]LNXM 6FK\OLDP VL SRG MHJR UNDPL L SRW\NDMF VL ZHV]DP
GDOHMGRSRNRMX1LHG]LNXMIDQWDVW\F]QLH=DUD]SHZQLHMHV]F]HG\JQ
1LHFK SDQ VL WU]\PD ]H VZRM PLNVWXU ] GDOHND RGH PQLH VSUyERZDDP
WURFKHQHUJLF]QLHM
1LP ]G\DP ]UREL NROHMQ\ NURN PLDDP RGZDQ\ SRP\V HE\
Z\VNRF]\ RNQHP 5DNRF]\ ]QDOD] VL WX RERN L SRSFKQ PQLH Z VWURQ
ELXUND%\QDW\OHVLOQ\HQDZHWQLH]DXZD\PRMHJRRSRUX
QLH EyM VL PDOHND RELHFXM H FL VL VSRGRED = FLFK\P
SODQLFLHPZ\FLJQNRUHN]PDHMEXWHONLLVLRGFK\OLPLJRZGRW\X
3LM
=DFLVQDP XVWD L SUyERZDDP ZROQ UN RGHSFKQ 5DNRF]HJR DOH
UyZQLHGREU]HPRJDE\PSUyERZDSU]HVXQJyU:UR]SDF]\SU]\ZRDDP
ZSDPLFLWHSDU]GDNWyUHV\V]DDPQDWHPDWVDPRREURQ\EDUG]RE\VL
WHUD] SU]\GDD &KDUORWW\ ]QDMRPR NUDY PDJL *G\ EXWHOND GRWNQD MX
PRLFKZDUJLSRF]XDPZQRVLHRVWUZRMHM]DZDUWRFLGRJRZ\SU]\V]HG
PL]EDZLHQQ\SRP\V:\FLJQDP]ZRVyZV]SLONLZELDPMWDNPRFQR
MDN W\ONR SRWUDILDP Z GR WU]\PDMF EXWHON -HGQRF]HQLH GU]ZL
RWZRU]\\VLJZDWRZQLHLXV\V]DDPJRV*LGHRQD
3XMQDW\FKPLDVW5DNRF]\
3R IDNFLH VWDR VL GOD PQLH MDVQH H PGU]HM E\RE\ ZEL V]SLON
5DNRF]HPXZRNRDOERSU]\QDMPQLHMZUDPL8NXFLHZGRRGZUyFLRMHJR
XZDJ]DOHGZLHQDSDUVHNXQG&KRV]SLONDXWNZLDZMHJRFLHOHQDZHWQLH
XSXFLEXWHONL=ZROQLW\ONRXFLVNPRFQ\QLF]\PFKZ\WLPDGDLRGZUyFL
VL*LGHRQVWRMF\ZGU]ZLDFK]ODG\/DYLQLSDWU]\]SU]HUDHQLHP
&yXGLDEDURELV]SDQLH"
1LFWDNLHJR&KFLDHPW\ONRSRPyFWHMPDHMG]LHZF]\QFHHE\VWDDVL
WURFKZLNV]D
5DNRF]\ RGFK\OL JRZ GR W\X L Z\EXFKQ VWUDV]Q\P PLHFKHP $
PRHW\VLRGZD\V]Z]L
\NSDQLH"=DSHZQLDPFLGRZLDGF]\V]QLH]QDQ\FKFLGRWHMSRU\XF]X
:\NRU]\VWDDPRND]ME\VLRGQLHJRXZROQL
:V]\VWNR Z SRU]GNX" *LGHRQ ]PLHU]\ PQLH ]DWURVNDQ\P Z]URNLHP
SRGF]DVJG\ODG\/DYLQLDVWDDRERNONOLZLHXF]HSLRQDMHJRUDPLHQLD
1LH GR ZLDU\ &L GZRMH SHZQLH V]XNDOL SRNRMX Z NWyU\P PRJOLE\ VL EH]
SU]HV]NyGSRREFLVNLZDDW\PF]DVHP5DNRF]\FKFLDPQLHWXQDSRL%yJ
ZLHMDNLPQDUNRW\NLHPHE\SRWHP
%yJZLHFR]HPQ]UREL,MDPDPE\WHUD]ZG]LF]QDH*LGHRQLSDQL
:LHONL%LXVWZ\EUDOLZDQLHWHQSRNyM
: QDMOHSV]\P SRU]GNX ZDUNQDP L PRFQR VSORWDP UFH HE\ QLNW
QLH ]DXZD\ MDN PL VL WU]V 5DNRF]\ ZFL MHV]F]H VL PLHMF Z]L
VSRU\\N]EXWHONLDSRWHPHQHUJLF]QLHM]DNRUNRZD
&]\ KUDELD ZLH H ]DEDZLDV] VL SDQLH Z XVWURQQ\P PLHMVFX Z
HNVSHU\PHQW\ ] QDUNRW\NDPL ]DPLDVW Z\SHQLD VZRMH RERZL]NL" VS\WD
*LGHRQ ORGRZDW\P WRQHP &]\ QD G]LVLHMV]\ ZLHF]yU QLH PLDH LQQ\FK
]DGD"
5DNRF]\ ]DFKZLD VL OHNNR =G]LZLRQ\ MDNE\ ]DXZD\ M GRSLHUR WHUD]
VSRMU]D QD V]SLON GR ZRVyZ ZELW Z JU]ELHW VZRMHM GRQL Z\FLJQ M
MHGQ\PUXFKHPLREOL]DNUHZMDNG]LNLNRW
&]DUQ\ /DPSDUW SRUDG]L VRELH ] NDG\P ]DGDQLHP L R NDG\P F]DVLH
SRZLHG]LD ]DSD VL ]D JRZ ]DWRF]\ VL ZRNy ELXUND L FLNR RSDG QD
NU]HVR&KRFLDWDPLNVWXUDU]HF]\ZLFLHZ\PDPURWDMHV]F]HDSRWHP
JRZDPXRSDGDLXGHU]\DRELXUNR
/DG\/DYLQLDGUFOHNNRRSDUDVLRUDPL*LGHRQD
&]\RQ"
0LHMP\QDG]LHMHQLH*LGHRQSRGV]HGGRELXUNDSRGQLyVEXWHONL
SU]\WU]\PDSRGZLDWR
3RWHP RGNRUNRZD M HE\ SRZFKD 1LH PDP SRMFLD FR WR MHVW DOH
MHOL QDZHW 5DNRF]HJR WDN V]\ENR ]ZDOLR ] QyJ 2GVWDZL NROE &K\ED
RSLXP =DSHZQH QLH QDMOHSLHM G]LDD Z SRF]HQLX ] MHJR FRG]LHQQ\PL
QDUNRW\NDPLLDONRKROHP
1DMZLGRF]QLHMWDNE\R5DNRF]\OHDMDNQLH\Z\QLHV\FKDE\RQDZHW
MHJRRGGHFKX
%\ PRH GD PX WR NWR NWR QLH FKFLD E\ G]LVLHMV]HJR ZLHF]RUD E\
FDNLHPSU]\WRPQ\SRZLHG]LDDPFLJOH]UNDPLVNU]\RZDQ\PLQDSLHUVL
&]\SXOVMHVWZ\F]XZDOQ\"]DGDDPWRS\WDQLHQLHZLDGRPRNRPX6DPD
E\PVSUDZG]LDDOHQLHE\DPMHV]F]HZVWDQLHSRGHMGR
5DNRF]HJR 0LDDP SUREOHP ] W\P HE\ Z RJyOH XVWD QD QRJDFK WDN
EDUG]RGUDDPQDFD\PFLHOH
*ZHQ"&]\QDSHZQRZV]\VWNR]WREZSRU]GNX"*LGHRQVSRMU]DQD
PQLH]H]PDUV]F]RQ\PF]RHP
1LHFKWQLH VL GR WHJR SU]\]QDM DOH Z WDPW\P PRPHQFLH QDMFKWQLHM
U]XFLDE\P PX VL Z UDPLRQD L SR SURVWX WURFK SRSDNDD $OH RQ QLH
Z\JOGD WDN MDNE\ VL SDOL GR WHJR HE\ PQLH REM L SRFLHV]\ ZUF]
SU]HFLZQLH
&]HJR W\ WX Z RJyOH X GLDED V]XNDD" QDSDG QD PQLH JZDWRZQLH
JG\]RFLJDQLHPNLZQDPJRZ3RND]DQDOHFHJREH]UXFKX5DNRF]HJR
7HE\WDNPRJDWHUD]Z\JOGD
=DF]DPV]F]ND]EDPLZLFQLHPRJDPZDFLZLHQLFSRZLHG]LH
1LH ZLHG]LDDP SU]HFLH H ]DMNQDP VL DOH /DYLQLD ZFL
SU]\NOHMRQD GR *LGHRQD QLF]\P EDUG]R ZLHONL L EDUG]R ]LHORQ\ SRZyM
SU]HUZDDPL
1DMZ\UDQLHM QDOHDD GR W\FK NRELHW NWyUH QLH PRJ ]QLH H NWR LQQ\
]QDOD]VLZFHQWUXPXZDJL
PLHU Z\V]HSWDD GUDPDW\F]QLH L VSRMU]DD QD *LGHRQD V]HURNR
RWZDUW\PL RF]DPL 3RF]XDP MHM RGGHFK JG\ ZNURF]\D GR WHJR SRNRMX
3URV]-HMSRZLHNL]DWU]HSRWD\3U]\WU]\PDMPQLH
1LH PRJDP Z WR XZLHU]\ RQD SR SURVWX ]HPGODD %H] DGQHM
SU]\F]\Q\ , RF]\ZLFLH EDUG]R HOHJDQFNR ZSURVW Z UDPLRQD *LGHRQD =
MDNLHJR SRZRGX ZSUDZLR PQLH Z NUDFRZ ZFLHNR WR H M FKZ\FL
%\DP WDN ZFLHND H ]DSRPQLDDP QDZHW R GUHQLX L V]F]NDQLX ]EDPL
$OH MHGQRF]HQLH MDNE\ WD KXWDZND QDVWURMyZ E\D MHV]F]H ]E\W PDR
UR]EXMDQDSRF]XDPH]\QDS\ZDMPLGRRF]X1LHFKWRGLDEOLRPGOHQLH
]FDSHZQRFLE\ROHSV]\PZ\MFLHP7\ONRHPQLHRF]\ZLFLHQLNWE\QLH
FKZ\FL
: W\P PRPHQFLH PDUWZ\ 5DNRF]\ RGH]ZD VL JRVHP NWyU\ VSRNRMQLH
PyJSRFKRG]L]]DZLDWyZWDNE\QLVNLL]DFKU\SQLW\
'RVLVVRODYHQHQXPIDFLW
1LHPDVWUDFKX=HJRGLDEOLQLHELRU
/DYLQLDSRVWDQRZLDPHRGWHUD]SU]HVWDMHE\GODPQLHODDGQLyVJRZL
VSRMU]D QD QDV QDELHJ\PL NUZL RF]DPL 0RMD ZLQD 2Q PyZL H WR VL
]D\ZDSRNURSOL
.WRPyZL"VS\WD*LGHRQEDODQVXMF]/DYLQLZUDPLRQDFKQLF]\P]
PDQHNLQHP
= QLHMDNLP WUXGHP 5DNRF]\ SU]\M SRQRZQLH SR]\FM VLHG]F RGU]XFL
JRZGRW\XL]JU]PLF\PPLHFKHPSU]\JOGDVLVXILWRZL
:LG]LFLHWHJZLD]G\MDNWDF]"*LGHRQZHVWFKQ
%G PXVLD SyM SR KUDELHJR SRZLHG]LD *ZHQ F]\ PRJDE\ PL
WHUD]SRPyFSURV]
7\ONRGDZNDF]\QLVXEVWDQFMWUXFL]QVRZD3DUDFHOVXVD
OHNDU]DLSU]\URGQLND]ZDQHJRRMFHPPHG\F\Q\QRZR\WQHM
*DSLDPVLQDQLHJRVNRQVWHUQRZDQD
=WWXWDM",FRMHV]F]H"
: NLONX NURNDFK E\DP SU]\ GU]ZLDFK L Z\ELHJDP QD NRU\WDU] HE\ QLH
PXVLD ZLG]LH PRLFK JXSLFK H] NWyUH UZF\PL SRWRNDPL S\Q\ PL SR
WZDU]\1LHZLHG]LDDPDQLGODF]HJRSDF]DQLGRNGZDFLZLHELHJQ7R
E\D ] SHZQRFL WDND SRVWWUDXPDW\F]QD UHDNFMD R NWyUHM F]VWR VL V\V]\
3RG ZS\ZHP V]RNX OXG]LH UREL QDMG]LZQLHMV]H U]HF]\ MDN WHQ SLHNDU] Z
<RUNVKLUH NWyUHPX PDV]\QD GR FLDVWHF]HN ]PLDG\D UN 8SLHN MHV]F]H
VLHGHPEODFKFLDVWHN]F\QDPRQHPLGRSLHURSRWHP]DG]ZRQLQDSRJRWRZLH
7H FLDVWND ] F\QDPRQHP WR E\D QDMRNURSQLHMV]D U]HF] MDN VDQLWDULXV]H
NLHG\NROZLHNZLG]LHOL
1DVFKRGDFK]DZDKDDPVLSU]H]FKZLO1LHFKFLDDPELHFZGyERWDP
PyJMXF]HNDORUG
$ODVWDLU NWyU\ ]DPLHU]D SRSHQL VZRM ]EURGQL GRVNRQD SRELHJDP
ZLFQDJyU'DOHNRQLH]DV]DPER]W\XXV\V]DDPZRDQLH*LGHRQD
*ZHQQ\=DWU]\PDMVL3URV]
3U]H] FKZLO Z\REUDDDP VRELH H SR SURVWX FLVQ /DYLQL QD SRGRJ
HE\ SRVSLHV]\ ]D PQ DOH WR QLH SRPRJR 1DGDO E\DP ZFLHND DOER
VPXWQDDOERZ\VWUDV]RQDDOERZV]\VWNRQDUD]
3RW\NDMF VL ROHSLRQD SU]H] ]\ SG]LDP GDOHM SR VFKRGDFK GR
NROHMQHJRNRU\WDU]D
'RNG LG]LHV]" *LGHRQ ]QDOD] VL RERN PQLH L SUyERZD FKZ\FL ]D
UN
:V]\VWNR MHGQR %\H GDOHM RG FLHELH FKOLSQDP L ZELHJDP GR
SLHUZV]HJR]EU]HJXSRNRMX
*LGHRQZV]HG]DPQ2F]\ZLFLH2PD\ZRVSU]HMHFKDDE\PSRWZDU]\
UNDZHPHE\RWU]H
]\ DOH Z RVWDWQLHM VHNXQG]LH SU]\SRPQLDDP VRELH R PDNLMDX PDGDPH
5RVVLQLL]UH]\JQRZDDP
3HZQLH MX L WDN E\ FDNLHP ]QLV]F]RQ\ HE\ QLH SDWU]H QD *LGHRQD
UR]HMU]DDPVLSRSRNRMX
ZLHFH Z NLQNLHWDFK RZLHWOD\ DGQH XWU]\PDQH Z RGFLHQLDFK ]RWD
Z\SRVDHQLH VRI R]GREQH ELXUNR NLOND NU]HVH REUD] SU]HGVWDZLDMF\
PDUWZHJR EDDQWD Z WRZDU]\VWZLH SDUX JUXV]HN NROHNFM HJ]RW\F]QLH
Z\JOGDMF\FK V]DEOL QDG J]\PVHP NRPLQND L ZVSDQLDH ]RWH ]DVRQ\ Z
RNQDFK=MDNLHJRSRZRGX]GDZDRPLVLHMXWXNLHG\E\DP
*LGHRQVWDSU]HGHPQZ\F]HNXMFR
=RVWDZPQLHZVSRNRMXSRZLHG]LDDPGREH]UDGQLH
1LH PRJ =DZV]H NLHG\ ]RVWDZLDP FL Z VSRNRMX URELV] FR
QLHSU]HP\ODQHJR
2GHMGVWG
0LDDP RFKRW U]XFL VL QD VRI L EEQL SLFLDPL Z SRGXV]NL &]\
FKFLDDP]E\WZLHOH"
1LHQLH]URELWHJRSRZLHG]LD*LGHRQ3RVXFKDMSU]\NURPLHWDN
VLVWDR1LHSRZLQLHQHPE\GRWHJRGRSXFL
0yM %RH WR E\R ]XSHQLH W\SRZH .ODV\F]Q\ SU]\SDGHN ]HVSRX
QDGPLHUQHM RGSRZLHG]LDOQRFL $ Fy WR PLDR ZVSyOQHJR ] W\P H
SU]\SDGNRZR VSRWNDDP 5DNRF]HJR L H EUDNXMH PX SLWHM NOHSNL MDN E\
SRZLHG]LD ;HPHULXV" = GUXJLHM VWURQ\ WURFK SRF]XFLD ZLQ\ E\ PX QLH
]DV]NRG]LR
$OH GRSXFLH SRZLHG]LDDP ZLF %R SDWU]\H W\ONR QD QL
GRGDDP
-HVWH ]D]GURVQD *LGHRQ E\ QD W\OH EH]F]HOQ\ E\ Z\EXFKQ
PLHFKHP
=DEU]PLDRWRWDNMDNE\PXXO\R
&KFLDE\]\PLREHVFK\LXNUDGNLHPZ\WDUDPVRELHQRV
+UDELD QD SHZQR VL ]DVWDQDZLD JG]LH VL SRG]LHZDP\ SRZLHG]LD
*LGHRQSRFKZLOL
7RQLHFKZ\OHQDSRV]XNLZDQLDVZRMWUDQV\OZDVNEUDWQLGXV]WHQ
WZyM KUDELD : NRFX RGZD\DP VL ]QyZ VSRMU]H PX Z RF]\ :
U]HF]\ZLVWRFLRQZFDOHQLHMHVWKUDEL-HJRW\WXMHVWWDNVDPRIDV]\Z\MDN
UyRZHSROLF]NLWHMWDPMDNHRQDVLQD]\ZDD"
*LGHRQ]DPLDVLFLFKR
-X]DSRPQLDHPMHMLPLHQLD
.DPFDPUXNQDPDOHWHPXVLDDPVLXPLHFKQ*LGHRQMHGQDN
]DUD]VSRZDQLD
+UDELDQLHRGSRZLDGD]D]DFKRZDQLH5DNRF]HJR=SHZQRFLXNDU]HJR
]DWR:HVWFKQ1LHPXVLV]OXELKUDELHJRPXVLV]JRW\ONRV]DQRZD
6DSQDPJQLHZQLH
-DQLFQLHPXV]SRZLHG]LDDPLJZDWRZQLHRGZUyFLDPVLGRRNQD
, ZWHG\ ]REDF]\DP VLHELH : V]NROQ\P PXQGXUNX Z\]LHUDDP GR
JXSDZR]]D]RWHM]DVRQ\
2 UDQ\ 'ODWHJR WR SRPLHV]F]HQLH Z\GDR PL VL ]QDMRPH 7R E\D NODVD
SDQL&RXQWHUD
*ZHQGRO\Q]D]DVRQZDQLHSRUD]WU]HFLZ\FLXSU]HVNRF]\DZF]DVLH
'DDPVRELHUN]QDNHE\PVLVFKRZDD
&RWRE\R"VS\WD*LGHRQ
$OHFR"VS\WDDPPROLZLHQLHZLQQLH
3RGRNQHP2GUXFKRZRVLJQSRV]SDGDOHWUDILZSUyQL
7DPQLFQLHPD
7R FR QDVWSQLH XF]\QLDP QDOH\ WDNH Z\WXPDF]\ V]RNLHP
SRVWWUDXPDW\F]Q\P HE\ UD] MHV]F]H SU]\SRPQLH WHJR SLHNDU]D L MHJR
NUZDZH FLDVWHF]ND ] F\QDPRQHP ERZ QRUPDOQ\FK RNROLF]QRFLDFK ] FD
SHZQRFL E\P WHJR QLH ]URELD 3R]D W\P Z\GDZDR PL VL H NWHP RND
ZLG] MDN FR ]LHORQHJR SU]HP\ND SU]H] GU]ZL L RFK Z JUXQFLH U]HF]\
]URELDP WR GODWHJR H ZLHWQLH MX ZLHG]LDDP H WR ]UREL 0RQD
SRZLHG]LHHQLHSR]RVWDRPLQLFLQQHJR
0RH NWR VWRL ]D ]DVRQ L QDV SRGVX ]DF] *LGHRQ DOH MD MX
]G\DP]DU]XFLPXUFHQDV]\MLSU]\FLVQXVWDGRMHJRZDUJ
, JG\ MX WR ]URELDP SU]\ZDUDP GR QLHJR WDNH FD\P FLDHP Z
GRVNRQD\PVW\OX/DYLQLL
3U]H]NLONDVHNXQGREDZLDDPVLH*LGHRQRGHSFKQLHPQLHRGVLHELHDOH
W\ONR ZHVWFKQ FLFKR REM PQLH Z WDOLL L MHV]F]H PRFQLHM SU]\FLJQ GR
VLHELH2GZ]DMHPQLPyMSRFDXQHN]WDNJZDWRZQRFLH]DSRPQLDDPR
ZV]\VWNLPL]DPNQDPRF]\7DNMDNZWHG\SRGF]DVWDFDQDJOHSU]HVWDR
VLOLF]\WRFRVLG]LDRF]\PRJRE\VLG]LDZRNyQDVSU]HVWDRVLWH
OLF]\ WR H ZDFLZLH E\ GUDQLHP ZLHG]LDDP W\ONR H JR NRFKDP L H
]DZV]H EG NRFKD L H FKFLDDE\P HE\ FDRZD PQLH SU]H] FD
ZLHF]QR
&LFKXWNLZHZQWU]Q\JRVLNV]HSWDPLHE\PDVNDZLHVLRSDQRZDDDOH
XVWD*LGHRQDLMHJRUFHZ\ZLHUD\UDF]HMRGZURWQ\HIHNW'ODWHJRQLHSRWUDIL
SRZLHG]LHMDNGXJRWRWUZDRQLPRGNOHLOLP\VLRGVLHELHLSRSDWU]\OLP\
QDVLHELH]NRQVWHUQDFM
'ODF]HJRWR]URELD"VS\WD*LGHRQFLNRRGG\FKDMF
:\JOGD QD VNRRZDQHJR 1LHPDO VL ]DWDF]DMF ]UREL NLOND NURNyZ GR
W\X MDNE\ FKFLD F]\P SUG]HM VWZRU]\ PLG]\ QDPL MDN QDMZLNV]\
G\VWDQV
&RWR]QDF]\GODF]HJR"
0RMH VHUFH ELR WDN V]\ENR L JRQR H ] SHZQRFL MH V\V]D 5]XFLDP
RNLHP QD GU]ZL 3HZQLH WDPWR FR ]LHORQH NWyUH GRVWU]HJDP NWHP RND
W\ONRVRELHZPyZLDPERWHUD]OHDRWRQDG\ZDQLHLF]HNDRE\REXG]LMH
SRFDXQNLHP
*LGHRQQLHXIQLH]PUX\RF]\
3U]HFLH W\ 3RGV]HG GR RNQD L UR]VXQ ]DVRQ\ $FK WR WH E\R
W\SRZH OHGZLH SU]H\OLP\ FR KP PLHJR D RQ MX PXVLD ]UREL
ZV]\VWNRHE\MDNQDMV]\EFLHMWR]HSVX
6]XNDV]F]HJRNRQNUHWQHJR"VS\WDDPGUZLFR
=D ]DVRQ RF]\ZLFLH QLNRJR QLH E\R PRMH PRGV]H MD GDZQR MX
SU]HVNRF]\R]SRZURWHPZF]DVLHLZDQLH]DGDZDRVRELHS\WDQLHJG]LHX
GLDEDQDXF]\RVLWDNGREU]HFDRZD
6HNUHWDU] E\ ]GUDMF D /DYLQLD IDV]\Z PLM : JUXQFLH U]HF]\ WR EDUG]R
SURVWH=DPLDVW]DF]VLWU]]HVWUDFKXQDJOH]DFKFLDRPLVLPLD
%\RWHJRSRSURVWX]DGXRMDNQDMHGHQG]LH
0\ODHPMHGQDNHQLHFR]PRG\ILNRZDOLFLHVZRMHPRUGHUF]HSODQ\JG\
]GRE\OLFLHGU]HZDJHQHDORJLF]QHSRGUyQLNyZZF]DVLHSRZLHG]LD*LGHRQ
/RUG$ODVWDLUPDFKQUNMDNE\FRZ\U]XFD
'U]HZD JHQHDORJLF]QH NWyUH SU]\QLyV QDP GHPRQ ] SU]\V]RFL
SRND]D\ W\ONR H FDNRZLWH Z\JDV]HQLH ZDV]\FK OLQLL MHVW QLHPROLZH
Z\MDQL3UHIHUXMPHWRGEH]SRUHGQL
6DPLW\ONRSRWRPNRZLHRZHMPDGDPHG
8UIHNWyUD\DQDGZRU]HNUyOD
)UDQFML V WDN OLF]QL H QLH VWDUF]\RE\ OXG]NLHJR \FLD E\ LFK Z\WURSL
X]XSHQL3LHUZV]\6HNUHWDU]/LNZLGDFMDZDVGZRMJDWXQDPLHMVFXZ\GDMH
PLVLQLHRG]RZQD*G\E\FLHVLWDNRVWDWQLRQLHEURQLOLZ+\GH
3DUNXVSUDZDE\DE\MX]DDWZLRQD
,OHFLSDF$OFRWW"VS\WD*LGHRQMDNE\QDSUDZGJRWRLQWHUHVRZDR
&RPRHGDFLORUG
$ODVWDLUSDQLHHDPLHV]SU]\VLJ6WUDQLNyZLSRSHQLDV]W]GUDG"
&yMD]DF]RFKRF]R$OFRWWDOHORUG$ODVWDLUPXSU]HUZD
&]\VWDGXV]D2WRMHJR]DSDWD3HZQRFLHDQLRRZLHZQLHELHQDJURG]
MHJR F]\Q\ QLH GD VL ]ZD\ ]RWHP =LHPLD PXVL ]RVWD XZROQLRQD RG
SRPLRWXGHPRQDWDNLHJRMDNZ\LVDP%yJSRG]LNXMHQDPHSU]HODOLP\
ZDV]NUHZ
1R QR QR 1D FKZLO ]DNLHNRZDD ZH PQLH QDG]LHMD /RUG $ODVWDLU
SRWU]HERZDSRSURVWXNRJRNWRE\JRVXFKD0RHFKFLDW\ONRSRJDGDR
VZRLFK REGQ\FK ZL]MDFK UHOLJLMQ\FK L SRWU]HERZD WURFK SRFKOHEVWZ" $OH
ZWHG\ORUG9DGHU]DF]U]]L
:DV]H\FLHGRELHJRNRFDGLDEHOVNLHQDVLHQLH3RU]XFLDPZLFV]\ENR
VZP\O
6G]LFLHH]DELFLHQLHZLQQHMG]LHZF]\Q\Z\ZRDERVNLDSODX]&LHNDZH
*LGHRQVLJQGRZHZQWU]QHMNLHV]HQLVXUGXWDDOH]DUD]Z]GU\JQVLZ
ZLGRF]Q\VSRVyE
&]\ PRH WHJR V]XNDV] SDQLH" VS\WD GUZLFR 3LHUZV]\ 6HNUHWDU]
:\M ] NLHV]HQL VZRMHJR F\WU\QRZRyWHJR VXUGXWD PD\ F]DUQ\ SLVWROHW
8QLyVJRZF]XENDFKSDOFyZ7REH]ZWSLHQLDGLDEHOVNLHQDU]G]LHPRUGX
]SU]\V]RFLSUDZGD"2F]HNXMFDSODX]X]HUNQZVWURQORUGD
$ODVWDLUD3RSURVLHPQDV]XZRG]LFLHOVNODG\/DYLQLE\FLGRNDGQLH
SU]HV]XNDD L VSUDZG]LD F]\ QLH PDV] SU]\ VRELH EURQL SRGUyQLNX Z
F]DVLH
/DYLQLD XPLHFKQD VL GR *LGHRQD ] SRF]XFLHP ZLQ\ D *LGHRQ SU]H]
FKZLO Z\JOGD WDN MDNE\ FKFLD VDP VLHELH VSROLF]NRZD 0RQD WR E\R
]UR]XPLH 3LVWROHW E\E\ QDV]\P UDWXQNLHP Z NRQIURQWDFML ]H 6PLWK
:HVVRQ OXG]LH ]H V]SDGDPL QLH PLHOLE\ QDMPQLHMV]\FK V]DQV 3UDJQDP E\
]GUDMFD$OFRWWSU]H]QLHXZDJRGEH]SLHF]\EURLVDPVRELHVWU]HOLZVWRS
+DDV GRWDUE\ PRH GR VDOL EDORZHM DOER QLH $OFRWW VFKRZD SLVWROHW ]
SRZURWHPGRNLHV]HQLVXUGXWDDPRMDRGZDJD]QLNQD
7DN G]LZLV] VL SDQLH SUDZGD" 3RP\ODHP R ZV]\VWNLP :LHG]LDHP
H QDV]D PLD ODG\ PD NDUFLDQH GXJL Z\MDQLD $OFRWW MDNE\ ]DF]\QD
SRJDZGN -DN ZV]\VF\ RWU]\ E\ QDMZ\UDQLHM VSUDJQLRQ\ X]QDQLD GOD
VZ\FKSU]HELHJ\FKF]\QyZ0RLP]GDQLHPMHJRSRFLJDWZDU]SU]\SRPLQDD
S\VNV]F]XUD3RNDQHNDUFLDQHGXJLNWyU\FKMXQLHPRJDWDNMDNGRWG
VSDFDSU]\FK\OQRFLZREHFVZ\FKZLHU]\FLHOL
:W\PPLHMVFX]DPLDDPVL]ROLZLH
:\EDF]PLPDGDPHHQLHE\HPWDNQDSUDZG]DLQWHUHVRZDQ\WZRLPL
ZG]LNDPL7HUD]MHGQDNWZRMHGXJL]RVWD\VSDFRQH
/DYLQLDQLHZ\JOGDDWDNMDNE\VL]WHJRFLHV]\D
7DN PL SU]\NUR 1LH PLDDP Z\ERUX ]ZUyFLD VL GR *LGHRQD OHF] RQ
]GDZDVLZRJyOHMHMQLHVXFKD
5DF]HM ]DVWDQDZLD VL Z MDNL VSRVyE PRH V]\ENR ]HUZD V]DEO ]H
FLDQ\QLPORUG$ODVWDLU]G\JRSU]HV]\VZRMV]SDG3RG\DP]DMHJR
VSRMU]HQLHPLGRV]DPGRZQLRVNXHQLHPD]E\WGX\FKV]DQVQDVXNFHV
FK\EDH]DWDLSU]HGHPQLZU]HF]\ZLVWRFLMHVWVXSHUPDQHP
.RPLQHNE\]DGDOHNRDSR]DW\PORUG$ODVWDLUNWyU\DQLQDVHNXQGQLH
VSXV]F]DRF]X]*LGHRQDVWD]QDF]QLHEOLHM
:V]\VWNRSLNQLHDGQLH]DF]DPSRZROLHE\]\VNDQDF]DVLHDOH
Z\UyZQXMHV]VZRMHUDFKXQNLEH]KUDELHJR
$OFRWWUR]HPLDVL
&KFLDDSDQLFK\EDSRZLHG]LHEH]5DNRF]HJR=DWDUUFH1RFy
MHJR V]F]HJyOQH XMPLMP\ WR WDN VNRQQRFL QDMZ\UDQLHM XQLHPROLZL\
G]LZ\SHQLHQLHRERZL]NyZ
3RNOHSD VL SR SLHUVL -HJR VDER GR QDUNRW\NyZ XF]\QLD ]H DWZ
RILDUMHOLUR]XPLHV]SDQLFRPDPQDP\OL
$OH5DNRF]\QLHMHVWVDPSRZLHG]LDDP-HJRNXUXFHSLOQXMQDVQD
NDG\PNURNX
=DQLHSRNRMRQ\ $OFRWW VSRMU]D V]\ENR QD ORUGD $ODVWDLUD D SRWHP ]QRZX
VLUR]HPLD
$JG]LHRQLWHUD]VFLZDVLNXUXFH"0LDDPQDG]LHMHZSRG]LHPLDFK
&]HNDM Z XNU\FLX PUXNQDP QDMEDUG]LHM ]RZLHV]F]R MDN W\ONR
SRWUDILDP *RWRZL XGHU]\ Z NDGHM FKZLOL $ SRWUDIL Z\F]\QLD ]H
V]SDGDPLLQRDPLU]HF]\NWyUHJUDQLF]]FXGHP
$OFRWW QLH GD VL MHGQDN ]DSG]L Z NR]L UyJ 5]XFL NLOND OHNFHZDF\FK
XZDJQDWHPDW
5DNRF]HJRLMHJROXG]LSRF]\P]QyZSRFKZDOLVDPHJRVLHELH]DJHQLDOQ\
SODQLMHV]F]HEDUG]LHMJHQLDOQ]PLDQSODQX
2EDZLDP VL H WHQ QDG]Z\F]DM VSU\WQ\ KUDELD QDGDUHPQLH F]HND G]L
QDZDVLQDVZRMHJR
&]DUQHJR/DPSDUWD1LHMHVWHFLHFLHNDZLMDNLHPDPZREHFQLHJRSODQ\"
*LGHRQ Z\UDQLH VWUDFL MHGQDN ]DLQWHUHVRZDQLH Z\ZRGDPL $OFRWWD
0LOF]D /RUG $ODVWDLU WH QDMZLGRF]QLHM PLD GRV\ SDSODQLQ\ 3LHUZV]HJR
6HNUHWDU]D&KFLDVLZUHV]FLH]DEUDGRU]HF]\
1LHFKRQDVLRGGDOLEXUNQQLHXSU]HMPLHZ\FLJQV]SDGLZVND]D
QDODG\/DYLQL
2KR]DF]\QDVL]DEDZD
=DZV]H P\ODHP H MHVWH F]RZLHNLHP KRQRUX SDQLH L SRMHG\QNXMHV]
VLW\ONR]X]EURMRQ\PLSU]HFLZQLNDPLU]HN*LGHRQ
-HVWHPF]RZLHNLHPKRQRUXDOHW\SDQLHMHVWHGHPRQHP1LHEGVL
]WRESRMHG\QNRZDW\ONRFL]DUQR]QDMPL]LPQRORUG$ODVWDLU
/DG\/DYLQLDZ\GDD]VLHELH]GXV]RQ\RNU]\NSU]HUDHQLD
1LHFKFLDDPWHJRV]HSQDGR*LGHRQD
1LHQRMDVQH7HUD]QDJOHPLDDVNUXSX\/HSLHM]HPGOHMJXSLDNURZR
:\SURZDG]LMSRZLHG]LDHP/RUG$ODVWDLUZ\MWNRZRF]\WDZPRLFK
P\ODFK
1DSUyEZLVQZSRZLHWU]XV]SDG
2F]\ZLFLH WR QLH MHVW ZLGRN GOD GDP\ $OFRWW Z\SFKQ /DYLQL QD
NRU\WDU]=DPNQLMGU]ZLLSLOQXMHE\QLNWWXQLHZV]HG
$OH
-HV]F]HQLHRGGDHPFLWZRLFKSDSLHUyZGXQ\FKSDQLV\NQ$OFRWW
-HOL ]HFKF MXWUR SU]\MG GR WZHJR GRPX PRL VXF\ D ZWHG\ WR MX QD
SHZQRQLHEG]LHWZyMGRP
/DYLQLD QLH RGH]ZDD VL ZLFHM $OFRWW ]DU\JORZD GU]ZL RGZUyFL VL GR
QDVLZ\FLJQ]NLHV]HQLVXUGXWDV]W\OHWDOHUDF]HMGHOLNDWQ\PRGHO0LPR
H SRZLQQDP E\D RNURSQLH VL ED VWUDFK QLH FKFLD ZH PQLH ZVWSL
3HZQLHGODWHJRHZ\GDZDRPLVLWR]XSHQLHDEVXUGDOQH
1LHU]HF]\ZLVWH-DNVFHQD]ILOPX
&]\QLHSRZLQQLP\ZWHMFKZLOLSU]HVNRF]\]SRZURWHP"
,OHMHV]F]HPDP\F]DVX"V]HSQDPGR*LGHRQD
=DGXRV\NQSU]H]]DFLQLWH]E\
1DWZDU]\$OFRWWDSRMDZLRVLUDGRVQHSRGQLHFHQLH
-D ELRU G]LHZF]\Q SRZLHG]LD D NLSLF G] PRUGX 7\ ]DDWZ
FKRSDND SDQLH $OH EG RVWURQ\ -HVW SU]HELHJ\ L ]UF]Q\ /RUG $ODVWDLU
MHG\QLHSDUVNQ]OHNFHZDHQLHP
.UHZ GHPRQyZ ]URVL ]LHPL VDSQ ORUG 9DGHU SHHQ UDGRVQHJR
RF]HNLZDQLD
-HJRUHSHUWXDU]GDZDVLQDGHURJUDQLF]RQ\
3RQLHZD *LGHRQ Z GDOV]\P FLJX QDMZ\UDQLHM LJUD ] P\O R
QLHGRVWSQ\FK V]DEODFK L NRQFHQWUXMF VL QD QLFK QDSU\ FLDR
UR]HMU]DDP VL Z SRV]XNLZDQLX LQQHM EURQL 1LH ]DVWDQDZLDMF VL
FKZ\FLDPMHGQR]WDSLFHURZDQ\FKNU]HVHLVNLHURZDDPMHJRGHOLNDWQHQRJL
ZVWURQ$OFRWWD
= MDNLHJR SRZRGX JR WR UR]EDZLR ER Z\V]F]HU]\ ]E\ MHV]F]H EDUG]LHM
]RZURJRQLSU]HGWHPLSRZROLGRPQLH SRGV]HG7RE\RMDVQHQLH]DOHQLH
RG PRW\ZyZ MDNLH QLP NLHURZD\ QLH EG]LH PX Z W\P \FLX GDQH F]\VWH
VXPLHQLH
/RUG$ODVWDLUWDNHVL]EOL\
,ZWHG\ZV]\VWNRZ\GDU]\RVLMHGQRF]HQLH
=RVWDWX]DZRDGRPQLH*LGHRQSU]HZUDFDMFELXUNRLSRV\DMFMH
NRSQLDNLHPSRSDUNLHFLHZVWURQORUGD$ODVWDLUD
1LHPDOZWHMVDPHMFKZLOLFKZ\FLFLNLOLFKWDU]L]FDHMVL\XGHU]\QLP
3LHUZV]HJR6HNUHWDU]DNWyU\ZUD]]QLPUEQRSRGRJ*LGHRQQLHWUDFL
F]DVX QD VSUDZG]DQLH F]\ MHJR FLRV SU]\QLyV RF]HNLZDQ\ UH]XOWDW -HV]F]H
JG\OLFKWDU]V]\ERZDZSRZLHWU]XGDVXVDZNLHUXQNXNROHNFMLV]DEHO/RUG
$ODVWDLU QDWRPLDVW ]UREL Z\SDG HE\ XQLNQ XGHU]HQLD ] VXQF\P NX
QLHPXELXUNLHPDOH]DPLDVWSRZVWU]\PD*LGHRQDZNLONXNURNDFK]QDOD]
VL RERN PQLH 7R ZV]\VWNR QDVWSLR Z PJQLHQLX RND L QLP ]G\DP
SRGQLH NU]HVR L SU]\UQ QLP ORUGRZL $ODVWDLURZL Z JRZ MHJR V]SDGD
Z\VNRF]\DGRSU]RGX
2VWU]H SU]HV]\R PL VXNQL L ZQLNQR JERNR SRG OHZ\P XNLHP
HEURZ\P =DQLP GRWDUR GR PQLH FR WDN QDSUDZG VL VWDR ORUG $ODVWDLU
Z\FLJQEURL]RNU]\NLHPWULXPIXRNU\
*LGHRQDZ\PLHU]DMFZQLHJRVNSDQHZPRMHMNUZLRVWU]HV]SDG\
%yO GRSDG PQLH ] VHNXQGRZ\P RSyQLHQLHP -DN PDULRQHWND NWyUHM
SU]HFLWR V]QXUNL RVXQDP VL QD NRODQD LQVW\QNWRZQLH SU]\FLVNDMF UFH
GR SLHUVL 8V\V]DDP MDN *LGHRQ Z\NU]\NXMH PRMH LPL L ]REDF]\DP MDN
FKZ\WD QDUD] GZLH V]DEOH ]H FLDQ\ L Z\PDFKXMH QLPL QDG JRZ QLF]\P
VDPXUDMVNL ZRMRZQLN 2VXQDP VL FDNLHP QD SRGRJ D PRMD JRZD
PLNNR Z WDNLFK V\WXDFMDFK SHUXND E\ZD FDNLHP SUDNW\F]QD RSDGD QD
SDUNLHW
%yO ]QLNQ MDN ]D GRWNQLFLHP F]DURG]LHMVNLHM UyGNL 3U]H] PRPHQW
ZSDWU\ZDDP VL ]DVNRF]RQD Z QLFR D SRWHP XQLRVDP VL Z SRZLHWU]H
OHNNR L EH]FLHOHQLH SRIUXQDP Z VWURQ R]GRELRQHJR V]WXNDWHUL VXILWX
:RNy PQLH Z ZLHWOH ZLHF WDF]\\ ]RWDZH GURELQNL NXU]X L E\R SUDZLH
WDNMDNE\PVWDDVLMHGQ]QLFK
'DOHNR SRG VRE ZLG]LDDP VLHELH MDN OH ] V]HURNR RWZDUW\PL RF]DPL
SUyEXMF]DSDRGGHFK
1DWNDQLQLHPRMHMVXNQLSRZROLUR]V]HU]DDVLSODPDNUZL.RORU\V]\ENR
]QLNQ\ ] PRMHM WZDU]\ NWyUD VWDD VL UyZQLH ELDD MDN SHUXND =H
]GXPLHQLHPSDWU]\DPMDNPRMHSRZLHNLGUDSRWHPVL]DP\NDM
$OH WD F] PQLH NWyUD XQRVLD VL Z SRZLHWU]X PRJD QDGDO ZV]\VWNR
REVHUZRZD
:LG]LDDP 3LHUZV]HJR 6HNUHWDU]D OHFHJR QLHUXFKRPR RERN ZLHF]QLND
0LDGXNUZDZLFUDQQDVNURQL
:LG]LDDP MDN *LGHRQ SREODG\ ] JQLHZX QDFLHUD QD $ODVWDLUD /RUG
]UREL XQLNZ NLHUXQNX GU]ZL L RGSDURZ\ZD V]SDG XGHU]HQLD DOH SR NLONX
VHNXQGDFK*LGHRQ]GRD]DSG]LJRGRNWD
:LG]LDDP ] MDNLP ]DSDPLWDQLHP VL SRMHG\QNRZDOL FKR WX QD JyU]H
V]F]NEURQLZ\GDZDVLQLHFRSU]\WXPLRQ\
/RUG]URELZ\SDGLVSUyERZD]DQXUNRZDSRGOHZUN*LGHRQDDOHWHQ
SU]HMU]DMHJR]DPLDU\LQLHPDOZW\PVDP\PPRPHQFLH]FDHMVL\SFKQJR
ZQLHRVRQLWHSUDZHUDPL$ODVWDLUSRSDWU]\]QLHGRZLHU]DQLHPDSRFKZLOL
MHJR WZDU] ]QLHNV]WDFL QLHP\ NU]\N 3DOFH Z\SURVWRZD\ VL L V]SDGD ]
EU]NLHPXGHU]\DRSRGRJ*LGHRQSU]\JZRG]LUDPLORUGDGRFLDQ\7DN
XQLHUXFKRPLRQ\ ORUG ]DF] PLPR EyOX MDNL EH] ZWSLHQLD RGF]XZD
PLRWDZFLHNHSU]HNOHVWZD
*LGHRQ RGZUyFL VL RG QLHJR QLH ]DV]F]\FDMF JR MX DQL MHGQ\P
VSRMU]HQLHPLU]XFLVLRERNPQLHQDSRGRJ7R]QDF]\RERNPRMHJRFLDD
ERMDWDNMDNZF]HQLHMXQRVLDPVLEH]X\WHF]QLHZSRZLHWU]X
*ZHQGRO\Q 2 PyM %RH *ZHQQ\ 3URV] QLH 3U]\FLVQ SL GR
PLHMVFD SRG PRM SLHUVL JG]LH V]SDGD SR]RVWDZLD PDOHN G]LXUN Z
VXNQL
=DSyQR]DJU]PLDORUG9DGHU&]\QLHZLG]LV]SDQLHMDNXFKRG]L]
QLHM\FLH"
2QD XPU]H L QLH ]PLHQLV] WHJR SDQLH ]DZRD ]H VZHJR PLHMVFD SRG
FLDQ WDNH ORUG $ODVWDLU XZDDMF E\ QLH UXV]D SU]\JZRGRQ UN
.UHZVS\ZDDWZRU]FPDNDXRERNMHJRVWyS
3U]HV]\HPVHUFHGHPRQD
=DPNQLMVLXFLV]\JR*LGHRQNWyU\WHUD]SRR\RELHGRQLHQDPRMHM
UDQLHLQDFLVNDQDQLFD\PFLDUHPVZRMHJRFLDD1LHSR]ZROHE\VL
Z\NUZDZLD-HOLWHUD]ZSRU=UR]SDF]RQ\SU]HNQOLQ1LHPRHV]
XPU]HV\V]\V]*ZHQQ\"
0RMD SLHU XQRVLD VL MHV]F]H L RSDGDD VNyU SRNU\ZD\ GUREQLXWNLH
NURSHONL SRWX DOH QLH PRQD E\R Z\NOXF]\ H ORUG 9DGHU L ORUG $ODVWDLU
PDMUDFM:NRFXIUXZDDPZSRZLHWU]XMDNRPLHQLFDVLGURELQNDS\X
DPRMDWZDU]WDPQDGROHQLHPLDDMXZVRELHDQLNURSOLNUZL1DZHWZDUJL
]UREL\VLV]DUH
]\ SRS\Q\ *LGHRQRZL SR SROLF]NDFK :FL MHV]F]H ] FDHM VL\
SU]\FLVNDUFHGRPRMHMUDQ\
=RVWD ]H PQ *ZHQQ\ ]RVWD ]H PQ V]HSWD D MD QDJOH VWUDFLDP
ZV]\VWNR]RF]X
: WHM VDPHM FKZLOL SRF]XDP ]QyZ SRG VRE WZDUG\ JUXQW WS\ EyO Z
EU]XFKX L FD\ FLDU PRMHJR FLDD 5]F ]DF]HUSQDP SRZLHWU]D L
ZLHG]LDDPHQDQDVWSQ\RGGHFKQLHEGMXPLDDVL
&KFLDDP RWZRU]\ RF]\ HE\ SR UD] RVWDWQL ]REDF]\ *LGHRQD DOH QLH
GDDPUDG\
.RFKDPFL*ZHQQ\SURV]QLH]RVWDZLDMPQLHSRZLHG]LD*LGHRQLWR
E\RRVWDWQLHFRXV\V]DDPQLPZSDGDPZRWFKD
0DUWZHSU]HGPLRW\ZV]HONLHJRURG]DMXLPDWHULD\ PRJE\EH]SUREOHPX
SU]HQRV]RQHZF]DVLHLWRZRELHVWURQ\3RGVWDZRZ\ZDUXQHNSU]HGPLRWZ
FKZLOLWUDQVSRUWXQLHPRHVW\NDVL]QLNLPLQLF]\PSR]DSU]HQRV]F\PJR
SRGUyQLNLHPZF]DVLH
'R WHM SRU\ QDMZLNV]\P WDNLP SU]HGPLRWHP E\ F]WHURPHWURZHM GXJRFL
VWy UHIHNWDU]RZ\ SU]HQLHVLRQ\ SU]H] EOLQLDNyZ GH 9LOOLHUV ] URNX GR
URNX L ] SRZURWHP ]RE WRP 79 UR]G]LD (NVSHU\PHQW\ L EDGDQLD
HPSLU\F]QH V 1LH PRQD SU]HQRVL UROLQ DQL LFK F]FL MDN WH
VWZRU]H ZV]HONLHJR URG]DMX SRQLHZD SRGUy Z F]DVLH QLV]F]\ OXE
FDNRZLFLH XQLFHVWZLD LFK VWUXNWXU\ NRPyUNRZH MDN GRZLHG]LRQR Z OLF]Q\FK
SUyEDFK SU]\ X\FLX JORQyZ UR]PDLW\FK VDG]RQHN SDQWRIHONyZ VWRQyJ
SLZQLF]Q\FKLP\V]\]REWDNHWRP
5R]G]LD
:\GDMH PL VL ]QDMRPD XV\V]DDP F]\M JRV %H] ZWSLHQLD E\ WR
]EOD]RZDQ\WRQ-DPHVD
2F]\ZLFLHH]QDMRPDW\VWDU\GXUQLXRGSRZLHG]LDJRVNWyU\PyJ
QDOHHZ\F]QLHGR;HPHULXVD7RMHVW*ZHQGRO\QW\ONREH]PXQGXUNDL
ZSHUXFH
1LH]H]ZROLHPFLQDRG]\ZDQLHVLGRPQLHQLHRNU]HVDQ\NRFLH
7DNMDNVWRSQLRZRSRJDQLDQHUDGLR]DF]\GRPQLHGRFLHUDWDNHLQQH
GZLNL L ]GHQHUZRZDQH JRV\ : GDOV]\P FLJX DOER ]QRZX OHDDP QD
SOHFDFK6WUDV]OLZ\FLDUVSDG]PRMHMSLHUVL
&]\E\DPWHUD]GXFKHPMDN-DPHV"
3U]\ZWyU]HRNURSQHJRGZLNXSU]HFLWRPLJRUVHWLUR]FK\ORQRPDWHULD
7UDIL Z DRUW XV\V]DDP ]UR]SDF]RQ\ JRV *LGHRQD 3UyERZDHP
]DWDPRZDNUHZDOHWRWUZDR]E\WGXJR
&KRGQH GRQLH REPDFD\ PyM WXyZ L GRWNQ\ EROFHJR PLHMVFD SRG
HEUDPL
7R W\ONR SRZLHU]FKRZQD UDQD SRZLHG]LD GRNWRU :KLWH ] XOJ 0yM
%RHDOHPLQDSG]LHVWUDFKD
&R"7RQLHPROLZHHE\RQD
6]SDGD W\ONR SU]HFLD VNyU :LG]LV]" *RUVHW PDGDPH 5RVVLQL GREU]H
VL VSUDZG]L $RUWD DEGRPLQDOLV QD PLR ERVN *LGHRQLH F]HJR Z\ VL
XF]\FLH QD W\FK VWXGLDFK" 3U]H] FKZLO QDSUDZG FL XZLHU]\HP 3DOFH
GRNWRUD:KLWH
DQDFLVQ\PRMV]\M3XOVWHMHVWVWDELOQ\
&]\ZV]\VWNR]QLZSRU]GNX"
$FRGRNDGQLHVLVWDR"
-DNORUG$ODVWDLUPyJMHMWR]UREL"
*RV\ SDQD *HRUJH
D )DOND GH 9LOOLHUV L SDQD :KLWPDQD SU]HQLND\ VL
QDZ]DMHP *LGHRQD MX QLH V\V]DDP 6SUyERZDDP RWZRU]\ RF]\ L W\P
UD]HP SRV]R FDNLHP DWZR 0RJDP VL QDZHW EH] SUREOHPX Z\SURVWRZD
:RNyPQLHZLGQLD\]QDQHSRPDORZDQHQDNRORURZRFLDQ\QDV]HM
3LZLQLF\ $UW\VW\F]QHM QDGH PQ ]D SRFK\OD\ VL JRZ\ ]JURPDG]RQ\FK
6WUDQLNyZ:V]\VF\QDZHWSDQ0DUOH\XPLHFKDOLVL
7\ONR *LGHRQ ZSDWU\ZD VL ZH PQLH WDN MDNE\ QLH GRZLHU]D ZDVQ\P
RF]RP-HJRWZDU]E\DWUXSLREODGDDQDSROLF]NDFKZLGQLD\ODG\H]
=DQLPLVWD-DPHV]DNU\ZDMFVRELHRF]\FKXVWHF]N
3RZLHG]PLNLHG\]QRZXEGPyJVSRMU]H
7HUD] Z DGQ\P Z\SDGNX ER ] PLHMVFD ROHSQLHV] SRZLHG]LD
;HPHULXV VLHG]F ]H VNU]\RZDQ\PL QRJDPL X PRLFK VWyS 6SRG JRUVHWX
ZLGDMHMWHUD]SRRZELXVWX
8SV 0LD UDFM =DHQRZDQD VSUyERZDDP XVL L SU]\NU\ QDJR
UR]GDUW\PL L SRFLW\PL UHV]WNDPL FXGRZQHM VXNQL PDGDPH 5RVVLQL 'RNWRU
:KLWH SRR\ PQLH DJRGQLH ] SRZURWHP QD VWy QD NWyU\P PQLH WX
SU]\QLHVLRQR
0XV] V]\ENR ]GH]\QIHNRZD L RSDWU]\ WR ]DGUDSDQLH SRZLHG]LD
3RWHPGRNDGQLHFL]EDGDP%ROLFLFR"
3RNUFLDP JRZ L Z WHM VDPHM FKZLOL Z\UZDR PL VL JRQH DXX
6WUDV]OLZLHERODDPQLHJRZD3DQ*HRUJHSRR\PLUNQDUDPLHQLX
2PyM%RH*ZHQGRO\Q7URFKQDVSU]HVWUDV]\D=DPLDVLFLFKR
7R VL QD]\ZD ZLDU\JRGQH RPGOHQLH .LHG\ *LGHRQ ZNURF]\ WX ] WRE QD
UNDFKQDSUDZGSRP\ODHPHW\E\PRH
QLH \MHV] ;HPHULXV GRNRF]\ ]GDQLH NWyUH SDQ *HRUJH SU]HUZD
]DZVW\G]RQ\ 6]F]HU]H PyZLF Z\JOGDD QD GR QLH\Z $ FKRSDN
RGFKRG]LRG]P\VyZ.U]\F]DFRR]DFLVNDFKGR\LEUHG]LQLHVWZRU]RQH
U]HF]\,SDND&]HJRVLWDNJDSLV]"
7R RVWDWQLH ]GDQLH RGQRVLR VL GR 5REHUWD NWyU\ ]DIDVF\QRZDQ\
ZSDWU\ZDVLZ;HPHULXVD
-DNLRQVRGNL0RJJRSRJDVND"VS\WDPQLH
1LHMHOLQLHFKFHV]VWUDFLUNLPD\RGSDU;HPHULXV:\VWDUF]\PL
HWHQWDPZ\SHUIXPRZDQ\JRJXEH]SU]HUZ\P\OLPQLH]NRWHP
1RQLHZ\SUDV]DPVRELH.RW\QLHPDMVNU]\GH]DZRD-DPHVZFL
]DVDQLDMFVRELHRF]\
-HVWHNRWHP]JRUF]NRZ\FKPDMDNyZ=Z\URGQLD\PNRWHP
-HV]F]H MHGQR VRZR D FL SRU ]DJUR]L ;HPHULXV *LGHRQ RGV]HG
NLONDNURNyZQDERNLRSDGQDNU]HVR
G]LZQH3R]DW\PZW\FKPXUDFKZFDOHVLMXQLHZLG]LSRU]GQLHXEUDQ\FK
OXG]L
3DQ:KLWPDQSRR\*LGHRQRZLUNQDUDPLHQLX
&y VL GRNDGQLH VWDR FKRSF]H" =GRDH SU]HND]D KUDELHPX QDV]
ZLDGRPR"'DFLLQVWUXNFMHFRGRNROHMQHJRVSRWNDQLD"
3U]\QLHFLH PX ZKLVN\ L ]RVWDZFLH JR QD SDU PLQXW Z VSRNRMX
ZDUNQGRNWRU:KLWHSU]\NOHMDMFPLQDUDQLHGZDPDHSODVWHUNL-HVWZ
V]RNX
1LH1LH-XZSRU]GNXPUXNQ*LGHRQ
5]XFL PL MHV]F]H V]\ENLH VSRMU]HQLH Z\M ] NLHV]HQL VXUGXWD
]DSLHF]WRZDQ\OLVWLSRGDJR
)DONRZL
&KRG 3DQ :KLWPDQ SRPyJ *LGHRQRZL ZVWD L SRSURZDG]L JR Z
NLHUXQNX GU]ZL 1D JyU]H Z JDELQHFLH G\UHNWRUD *LOOHVD MHVW ZKLVN\ ,
NDQDSDMHOLEG]LHV]FKFLDVLQDFKZLOSRR\
2EHMU]DVL)DONSyMG]LHV]]QDPL"
$OHRF]\ZLFLHRGU]HN)DON0DPQDG]LHMHGREU\VWDU\*LOOHVPD
WDPGRZKLVN\GODQDVZV]\VWNLFK2GZUyFLVLZVWURQSR]RVWD\FK
$ Z\ Z DGQ\P UD]LH QLH RGZRFLH *ZHQGRO\Q GR GRPX Z W\P RSDNDQ\P
VWDQLHF]\WRMDVQH"
-DVQH SURV] SDQD ]DSHZQL JR SDQ 0DUOH\ -DVQH MDN VRFH MHOL
PRJWRWDNVIRUPXRZD
)DONSU]HZUyFLRF]DPL
0RHSDQSRZLHG]LDDSRWHPUD]HP]SDQHP:KLWPDQHPL*LGHRQHP
]QLNQ]DGU]ZLDPL
3DQ%HUQKDUGPLDZROQ\ZLHF]yUGODWHJRWR&DUROLQHRWZRU]\DPLGU]ZLL
QDW\FKPLDVW]DF]DSDSODEH]DGQ\FKNURSHNLSU]HFLQNyZ
&KDUORWWD SU]\PLHU]DD NRVWLXP HOID QD LPSUH] MHVW SU]HOLF]Q\ L
SR]ZROLDPLHE\PZHWNQDMHMSLyUDDOHZWHG\FLRFLD*OHQGDSRZLHG]LDD
H PDP DVNDZLH XP\ UFH ER QD SHZQR ]QRZX JDVNDDP MDNLH EUXGQH
]ZLHU]D
:LFHMQLH]G\DSRZLHG]LHER]DSDDPMLSU]\WXOLDPWDNPRFQRH
QLHPRJD]DSDWFKX
1R ]JQLH M VSRNRMQLH U]XFL ;HPHULXV NWyU\ ] RSRWHP ZOHFLD ]D
PQGRGRPX7ZRMDPDPDSRSURVWXXURG]LMHV]F]HMHGQRG]LHFNRMDNWR
WXWDMVL]HSVXMH
0RMDVRGNDQDMXNRFKDV]DQDMGURV]DPDDVLRVWU]\F]NRPUXNQDP
ZH ZRV\ &DUROLQH MHGQRF]HQLH PLHMF VL L SDF]F 7DN EDUG]R FL
NRFKDP
-D WH FL NRFKDP DOH G\V]\V] PL GR XFKD &DUROLQH RVWURQLH VL
Z\VZRERG]LD &KRG -X ]DF]OLP\ MH 1D GHVHU MHVW F]DUFL WRUW
F]HNRODGRZ\]FXNLHUQL+XPPLQJELUGD
2FK NRFKDP NRFKDP NRFKDP F]DUFL WRUW F]HNRODGRZ\ ZRDDP
NRFKDP\FLHNWyUHSU]\QRVLWDNLHSLNQHU]HF]\
7\ QLH PRJDE\ WURFK Z\OX]RZD" 0RQD E\ SRP\OH H ZDQLH
ZUDFDV]]HOHNWURZVWU]VyZ;HPHULXVXPLHFKQVLSRVSQLH
&KFLDDP REU]XFL JR NDUFF\P VSRMU]HQLHP DOH SRWUDILDP W\ONR VL
XPLHFKQ SURPLHQQLH GR PRMHJR VRGNLHJR PDHJR SRVSQHJR GHPRQD
JDUJXOFD
&LHELHWHNRFKDPSRZLHG]LDDP
2UDQ\ZHVWFKQ-DNE\E\DSURJUDPHPWHOHZL]\MQ\PWRRGUD]X
E\PFLSU]HF]\
&DUROLQH SRSDWU]\D QD PQLH RGURELQ ]DWURVNDQD *G\ V]\P\ QD
SLHUZV]HSLWURZ]LDPQLH]DUN
&RVL]WREG]LHMH*ZHQQ\"2WDUDP]\]SROLF]NDLUR]HPLDDPVL
1LFZV]\VWNRZ QDMOHSV]\P SRU]GNX-HVWHP SR SURVWX V]F]OLZD %R
\M %R PDP WDN ZVSDQLD URG]LQ %R WD SRUF] MHVW WDND FXGRZQLH
JDGNDZGRW\NXLWDNGREU]H]QDQD%R\FLHMHVWWDNLHFXGRZQH*G\SU]\
W\FK VRZDFK ]QRZX SRS\Q\ PL ]\ ]DGDDP VRELH S\WDQLH F]\ WR FR
GRNWRU:KLWHUR]SXFLPLZZRG]LHWRQDSHZQRE\DW\ONRDVSLU\QD
3U]\F]\QWHMHXIRULLPyJE\SRSURVWX]QLHZDODMF\IDNWHSU]H\DPL
QLHPXVLDDPWHUD]ZLH\ZRWDGUREQLXWNLHMF]VWHF]NLS\X
'ODWHJRSU]HGGU]ZLDPLGRMDGDOQLSRGQLRVDP&DUROLQHL]DNUFLDPVL]
QL Z NyNR %\DP QDMV]F]OLZV]\P F]RZLHNLHP QD ZLHFLH ER \DP D
*LGHRQ SRZLHG]LD .RFKDP FL 7R RVWDWQLH PRJR E\ RF]\ZLFLH
SU]HGPLHUWQKDOXF\QDFMWHJRGRNRFDZRODDPQLHZ\NOXF]D
0RMDVLRVWUDSLVQD]UR]EDZLHQLHPSRGF]DVJG\;HPHULXVXGDZDHPD
ZUNXSLORWDLGDUHPQLHSUyEXMHSU]HF]\VLQDLQQ\SURJUDP
&]\ WR SUDZGD FR SRZLHG]LDD &KDUORWWD" VS\WDD &DUROLQH NLHG\
SRVWDZLDPMQDSRGRG]H
HSyMG]LHV]QDLPSUH]GR&\QWKLLMDNR]LHORQ\ZRUHNQDPLHFL"
7RQDPRPHQWVSURZDG]LRPQLHQD]LHPL]PRMHJRHXIRU\F]QHJRRGORWX
&KD FKD FKD ]DPLD VL ;HPHULXV ] PFLZ VDW\VIDNFM -X WR
ZLG]V]F]OLZ\]LHORQ\ZRUHNQDPLHFLNWyU\ZV]\VWNLFKFKFLDE\REML
Z\FDRZDER\FLHMHVWWDNLHFXGRZQH
+PQLHMHOLEGPRJDWHJRXQLNQ
2 UDQ\ MXOHN PLDDP QDG]LHM H XGD PL VL SU]HNRQD /HVOLH E\
]RVWDZLD SRP\V ] QRZRF]HVQ\PL 0DUVMDQDPL QD LQQ LPSUH] 6NRUR
RSRZLDGDDRW\PZV]\VWNLPQDRNRRPXVLDDE\]DFKZ\FRQDDMDN/HVOLH
MHVW F]\P ]DFKZ\FRQD EDUG]R WUXGQR M RG WHJR RGZLH ZLHG]LDDP WR ]
GRZLDGF]HQLD
0RMD URG]LQD VLHG]LDD Z NRPSOHFLH ZRNy VWRX L PXVLDDP PRFQR VL
SRZVWU]\P\ZDRGWHJRE\LFKWHQLHXV]F]OLZLVHUGHF]Q\PXFLVNLHP
PRJDE\PZ\FDRZDQDZHWFLRWN*OHQGL
&KDUORWWH FR ]DSHZQH GRZRG]L Z MDN Z\MWNRZ\P VWDQLH VL
]QDMGRZDDP3RQLHZDMHGQDN
;HPHULXV SU]\JOGD PL VL RVWU]HJDZF]R ]DGRZROLDP VL SURPLHQQ\P
SRZLWDOQ\P XPLHFKHP L SR GURG]H ]PLHU]ZLDP W\ONR ZRV\ 1LFNRZL $OH
NLHG\ ]DMDP VZRMH PLHMVFH L VSRMU]DDP QD WDOHU] QD NWyU\ PDPD ]G\D
MXQDR\SU]\VWDZN]QRZX]DSRPQLDDPRSRZFLJOLZRFL
7DUWD ]H V]SDUDJDPL Z\NU]\NQDP &]\ \FLH QLH MHVW SR SURVWX
FXGRZQH"-HVWW\OHU]HF]\NWyU\PLPRQDVLFLHV]\SUDZGD"
-HOL MHV]F]H UD] X\MHV] VRZD FXGRZQ\ QDU]\JDP FL GR WHM FKROHUQHM
WDUW\]HV]SDUDJDPLZDUNQ;HPHULXV
8PLHFKQDP VL GR QLHJR ZR\DP VRELH NV GR XVW L SURPLHQLHMF ]H
V]F]FLDUR]HMU]DDPVLZRNy
0LHOLFLH GREU\ G]LH" VS\WDDP &LRFLD 0DGG\ RGSRZLHG]LDD PL
XPLHFKHP
1RFyZ\GDMHVLZNDG\PUD]LHHW\PLDDFDNLHPQLH]\
:LGHOHF&KDUORWW\VNU]\SLFRNURSQLHSU]HMHFKDSRWDOHU]X
7DNZUH]XOWDFLHWHQG]LHQDSUDZGE\FDNLHPQLH]\0LPRH*LGHRQ
)DONLSDQ:KLWPDQQLHSRND]DOLVLD GRPRMHJRRGMD]GXLQLHPLDDPMX
RND]MLVSUDZG]LF]\NRFKDPFL*ZHQQ\SURV]QLH]RVWDZLDMPQLHE\R
W\ONRPRLPXURMHQLHPF]\WH*LGHRQU]HF]\ZLFLHWRSRZLHG]LD
3R]RVWDOL 6WUDQLF\ EDUG]R VL SRVWDUDOL E\ SRSUDZL PyM MDN WR QD]ZD
)DON GH 9LOOLHUV RSDNDQ\ VWDQ 3DQ 0DUOH\ FKFLD PQLH QDZHW
ZDVQRUF]QLH XF]HVD ZRODDP MHGQDN ]UREL WR VDPD 7HUD] PLDDP QD
VRELHV]NROQ\PXQGXUHNDPRMHZRV\SRU]GQLHZ\V]F]RWNRZDQHRSDGD\
QDSOHF\
0DPDSRJDG]LDPQLHSRUFH
&LHV]VLHMXMHVWH]GURZDVHUGXV]NR
&LRWND*OHQGDZ\PDPURWDDSRGQRVHPFRFR]DEU]PLDRMDNRUJDQL]P
MDNXZLHMVNLHMG]LHZXFK\
1R L FR WDP ] W\P ]LHORQ\P ZRUNLHP QD PLHFL" VS\WDD SR FKZLOL ]
IDV]\Z\P XPLHV]NLHP 1LH PRJ XZLHU]\ H W\ L WZRMD SU]\MDFLyND
/DVVLHWDNFKFHFLHLQDSU]\MFLHNWyUHSDVWZR
'DOH Z\GDM GOD VZHM FyUNL 7RELDV 'DOH QD SHZQR SRWUDNWXMH WR MDNR
SROLW\F]Q\DIURQWMHVWSU]HFLHV]\FKZUyGWRU\VyZ
+"RGH]ZDDPVL
0yZLVLSURV]]UXJDPQLH;HPHULXV
*OHQGR QDSUDZG PQLH ]DG]LZLDV] /DG\ $ULVWD PODVQD M]\NLHP
DGQHM]PRLFKZQXF]HNQLJG\QLHSU]\V]RE\FRWDNLHJRGRJRZ\:RUHN
QDPLHFL&yWR]DE]GXU\SU\FKQD
1LE\WDNDOHMHOLVLQLHPDQLF]HJR]LHORQHJRWRFK\EDWROHSV]HQLQLF
SRZLHG]LDDXV]F]\SOLZLH&KDUORWWD:NDG\PUD]LHZSU]\SDGNX*ZHQ
2FK &LRFLD 0DGG\ VSRMU]DD QD PQLH ]H ZVSyF]XFLHP 1LHFK SRP\O
0DPPLNNL]LHORQ\V]ODIURNIURWWHNWyU\PRJDE\PFLSR\F]\
&KDUORWWD 1LFN &DUROLQH L ;HPHULXV ]DFKLFKRWDOL D MD XPLHFKQDP VL
GRFLRFL0DGG\
7RPLR]WZRMHMVWURQ\FLRFLXDOH/HVOLHVLFK\EDQLH]JRG]L0DUVMDQLQ
QLHPRHE\ZV]ODIURNX
/DG\$ULVWD]EU]NLHPRGR\DV]WXFH
0yM%RHPDFLHSRQDGF]WHUG]LHFLODWD]DFKRZXMHFLHVLMDNQDVWRODWNL
2F]\ZLFLHH
*ZHQGRO\QQLHSyMG]LHQDSU]\MFLHZZRUNXQDPLHFL$WHUD]MHOLPRJ
SURVL]PLHQLDP\WHPDW
7DN WDN SRUR]PDZLDMP\ ]QRZX R VWDU\FK GHVSRW\F]Q\FK VPRNDFK
]DSURSRQRZD;HPHULXV
$OERRNRELHWDFKSRF]WHUG]LHVWFHNWyUHQDGDOPLHV]NDM]PDP
1LH PRHV] SU]HFLH UR]ND]\ ]DF]D PDPD DOH NRSQDP M SRG
VWRHPZSLV]F]HOLXPLHFKQDPVLGRQLHM
:HVWFKQDDOHRGSRZLHG]LDDPLXPLHFKHP
&KRG]L W\ONR R WRH QLH PRJ VL VSRNRMQLH SU]\JOGDMDN *ZHQGRO\Q
UXMQXMHRSLQLRQDV]HMURRGH]ZDDVLFLRWND*OHQGDOHF]ODG\$ULVWDQLH
GDDMHMGRNRF]\*OHQGRMHOLVLZWHMFKZLOLQLH]DPNQLHV]WRSyMG]LHV]
VSDEH]NRODFMLSU\FKQWDLZV]\VF\VLUR]HPLDOLSUyF]QLHMVDPHMLFLRWNL
*OHQG\QDZHW&KDUORWWD
:W\PPRPHQFLHNWR]DG]ZRQLGRGU]ZL
3U]H]NLONDVHNXQGQLNWQLHUHDJRZDSRSURVWXMHGOLP\GDOHMDQDPVL
SU]\SRPQLDRHSDQ
%HUQKDUGPDG]LZROQH/DG\$ULVWDZHVWFKQD
%\DE\WDNPLD&DUROLQH"-HOLWRSDQ7XUQHUZ]ZL]NX]WHJRURF]Q
GHNRUDFM ODWDUQL SRZLHG] PX H QLH PD PQLH Z GRPX 2GF]HNDD D
&DUROLQH ]QLNQLH L SRNUFLD JRZ 7HQ F]RZLHN PQLH Z\NRF]\ 3RZLHP
W\ONR W\OH SRPDUDF]RZH EHJRQLH 0DP QDG]LHM H GOD WDNLFK OXG]L
SU]HZLG]LDQHMHVWRVREQHSLHNR
-D WH PDP WDN QDG]LHM SRSDUD M FLRFLD 0DGG\ 0LQXW SyQLHM
&DUROLQHZUyFLD
7R*ROOXP]DZRDDFKFHVLZLG]LH]*ZHQGRO\Q
*ROOXP"0DPD1LFNLMDSRZWyU]\OLP\WRFKyUHP
3U]\SDGNLHP :DGFD SLHUFLHQL E\ QDV]\P XOXELRQ\P ILOPHP W\ONR
&DUROLQHQLHSR]ZRORQRJRREHMU]HERE\D]DPDD
&DUROLQH]]DSDHPSRNLZDDJRZ
7DNF]HNDQDGROH1LFNUR]HPLDVL
6XSHUNRFKDQLH.RQLHF]QLHPXV]JR]REDF]\
-DWHGRU]XFL;HPHULXVDOHQDGDOZLVLDOHQLZLHQD\UDQGROXLGUDSD
VLSREU]XFKX
1D SHZQR PDV] QD P\OL *RUGRQD SRZLHG]LDD &KDUORWWD 3U]\V]HG
GRPQLH$OHMHVW]DZF]HQLH3RZLHG]LDDPZSyGRG]LHZLWHM
2FK MDNL ZLHOELFLHO NUyOLF]NX" VS\WDD ] ]DFKZ\WHP FLRFLD 0DGG\
-DNFXGQLH0RH]DMPLHV]VRELHP\OLF]\PLQQ\P
&KDUORWWD]URELDREUDRQPLQ
1LH FLRFLX 0DGG\ *RUGRQ WR W\ONR FKRSDN ] PRMHM NODV\ D MD PX
SRPDJDPQDSLVDZ\SUDFRZDQLHRV\JQHWDFKURGRZ\FK
$OH RQ SRZLHG]LD H SU]\V]HG GR *ZHQGRO\Q XSLHUDD VL &DUROLQH
MHGQDN&KDUORWWD]G\DMXRGVXQMQDERNLZ\ELHJD]SRNRMXDPRMD
VLRVWUDSRVSLHV]\D]DQL
0RH ]MH ] QDPL ]DZRDD ]D QLPL FLRWND *OHQGD 2QD MHVW ]DZV]H
WDNDFKWQDGRSRPRF\
2GZUyFLDVLGRQDV1DZLDVHPPyZLF*RUGRQ*HOGHUPDQMHVWV\QHP
.\OH
D$UWKXUD
*HOGHUPDQD
3URV]SURV]ZWUFL;HPHULXV
.WRNROZLHNWRMHVWSRZLHG]LDDPDPD
.\OH $UWKXU *HOGHUPDQ SRZWyU]\D FLRWND *OHQGD W\P UD]HP
DNFHQWXMF NDG V\ODE *LJDQW KDQGORZ\ 1LF FLWR QLH PyZL"7R WH GOD
FLHELHW\SRZH1LHPDV]SRMFLDZMDNLPURGRZLVNXREUDFDVLWZRMDFyUND
7ZRMH]DDQJDRZDQLHMDNRPDWNLGRSUDZG\ZRDRSRPVW GRQLHED1RDOH
FyWHQFKRSLHFLWDNQLHMHVW]DLQWHUHVRZDQ\*ZHQGRO\Q
0DPDZHVWFKQD
*OHQ ZLHV] FR QDSUDZG SRZLQQD ]QRZX ]DF] EUD WH WDEOHWNL QD
PHQRSDX]
%UZLODG\$ULVW\QLHPDO]HWNQ\VLSRURGNXWDNSRQXURMH]PDUV]F]\D
L MX QDEUDD SRZLHWU]D SHZQLH SR WR E\ RGHVD PDP L FLRWN *OHQG GR
yHNEH]GHVHUXNLHG\ZUyFLD&DUROLQH
1RL*ROOXPQDSUDZGSU]\V]HGGR*ZHQGRO\QR]QDMPLDWULXPIDOQLH
:VDG]LDP VRELH ZDQLH VSRU\ NDZDHN WDUW\ GR XVW L R PDR MHM QLH
Z\SOXDP NLHG\ ]REDF]\DP H GR SRNRMX ZFKRG]L *LGHRQ D ]D QLP
&KDUORWWD]WZDU]]DPLHQLRQZNDPLH
'REU\ ZLHF]yU SU]\ZLWD VL XSU]HMPLH *LGHRQ 0LD QD VRELH GLQV\ L
VSUDQ]LHORQNRV]XO
1DMZ\UDQLHM ]G\ Z W\P F]DVLH Z]L SU\V]QLF ER MHJR ZRV\ E\\
ZLOJRWQHLZQLHDG]LHZL\VLZRNyWZDU]\3U]HSUDV]DPEDUG]R1DSUDZG
QLHFKFSU]HV]NDG]DZNRODFMLFKFLDHPVLW\ONR]REDF]\]*ZHQGRO\Q
3U]H] FKZLO ZV]\VF\ PLOF]HOL 1R PRH SRPLMDMF ;HPHULXVD NWyU\
ZSURVW SND ]H PLHFKX ]ZLVDMF ] \UDQGROD 1LH PRJDP QLF SRZLHG]LH
ER E\DP ]DMWD JRUF]NRZ\P SU]H\NDQLHPMHG]HQLD1LFN FKLFKRWD PDPD
VSRJOGDD WR QD *LGHRQD WR QD PQLH FLRWFH *OHQG]LH ]QRZX Z\VNRF]\\
F]HUZRQHSODP\QDV]\LDVSRMU]HQLHODG\$ULVW\QD*LGHRQDVSRNRMQLHPRJR
VLUyZQDVSRMU]HQLXQDSRPDUDF]RZEHJRQL
7\ONRFLRFLD0DGG\]DFKRZDDMDNLHWDNLHPDQLHU\
$OH QLH SU]HV]NDG]D SDQ SRZLHG]LDD SU]\MDQLH 3URV] QLHFK SDQ
XVLG]LHNRRPQLH
&KDUORWWRSRGDMMHV]F]HMHGQRQDNU\FLH
7DNWDOHU]GOD*ROOXPDV]HSQGRPQLH1LFNLZ\V]F]HU]\]E\
&KDUORWWD ]LJQRURZDD FLRFL 0DGG\ L ZUyFLD QD VZRMH PLHMVFH ZFL ]H
VNDPLHQLDWZDU]
7REDUG]RPLHG]LNXMDOHMXMDGHPNRODFMRGU]HN*LGHRQ
:NRFXXGDRPLVLSU]HNQNDZDHNWDUW\LV]\ENRZVWDDPRGVWRX
-DVLZDFLZLHMXQDMDGDPR]QDMPLDP&]\QLFVLQLHVWDQLHMDN
VRELHSyMG"1DMSLHUZSRSDWU]\DPQDPDPDSRWHPQDEDEFL
2ELH Z\PLHQL\ G]LZQH ]JRGQH VSRMU]HQLD L MHGQRF]HQLH ZHVWFKQ\
QLHVNRF]HQLHJERNR
2F]\ZLFLHHQLHSRZLHG]LDDPDPD
$OHFLDVWRF]HNRODGRZHSU]\SRPQLDDPL&DUROLQH
=RVWDZLP\*ZHQGRO\QNDZDHN/DG\$ULVWDNLZQDGRPQLHJRZ
'RV]W\ZQRSRGHV]DPGR*LGHRQD
=LJQRURZDPRMXZDJ
0LG]\ NROHMQ\P Z\ELHUDQLHP QXPHUX ]DF]HP F]\WD WH SDSLHU\
&KRG]LRSU]HSRZLHGQLHLQRWDWNLQDOHFHGRKUDELHJR'RNXPHQW\NWyU\FK
6WUDQLF\ QLH ]QDM .WyUH ] SHQ SUHPHG\WDFM ]DWDL SU]HG ZDVQ\PL
OXGPL
:HVWFKQDP
1LHFK ]JDGQ -HV]F]H ZLFHM JXSNRZDW\FK ZLHUV]\NyZ $ W\ QLH
]UR]XPLDH]QLFKDQLVRZD
*LGHRQSRFK\OLVL
1LH ZUF] SU]HFLZQLH SRZLHG]LD ZROQR 7R E\R GR MHGQR]QDF]QH
1DSLVDQR WDP H NWR PXVL XPU]H E\ NDPLH ILOR]RILF]Q\ RVLJQ SHQL
VZRMHMPRF\6SRMU]DPLSURVWRZRF]\$W\PNLPMHVWHW\
$KD1LH]URELRWRQDPQLHDWDNLHJRZUDHQLDMDNLHSHZQLHSRZLQQR
E\R]UREL7R]QDF]\HWRMDMHVWHPFHQNWyUWU]HED]DSDFL
%\HP ZVWU]QLW\ NLHG\ WR SU]HF]\WDHP *LGHRQRZL VSDG QD WZDU]
NRVP\N ZRVyZ DOH QDZHW WHJR QLH ]DXZD\ 1D SRF]WNX Z RJyOH QLH
PRJHP Z WR XZLHU]\ DOH SU]HSRZLHGQLH E\\ MHGQR]QDF]QH *DQLH \FLH
UXELQDPLHUUXELQDZ\]QDF]DNUHVGZXQDVWDJZLD]GDEOHGQLHLWDNGDOHML
WDN GDOHM EH] NRFD =UREL PD SDX] -HV]F]H EDUG]LHM MHGQR]QDF]QH
E\\]DSLVNLNWyUHKUDELDSRF]\QLQDPDUJLQHVLH-DNW\ONRNUJVL]DPNQLH
L HOLNVLU RGQDMG]LH VZRMH SU]H]QDF]HQLH XPU]HV] -HVW WR QDSLVDQH QLHPDO
GRVRZQLH
=WUXGHPSU]HNQDPOLQ
$ MDN PDP XPU]H" 0LPR ZROL ]QRZX SRP\ODDP R ]DNUZDZLRQ\P
RVWU]XV]SDG\ORUGD
$ODVWDLUD&]\WRWHQDSLVDQR"
*LGHRQXPLHFKQVLOHNNR
1RZLFSU]HSRZLHGQLHVMDN]DZV]HPWQHDOHMHGQDU]HF]E\DFRUXV]
SRGNUHODQD H MD F]\OL GLDPHQW OHZ QXPHU MHGHQDFLH EG PLD ] W\P
FR ZVSyOQHJR 8PLHFK ]QLNQ PX ] WZDU]\ D Z MHJR JRVLH ]DEU]PLDR
FRF]HJRMHV]F]HQLJG\SU]HGWHPQLHV\V]DDPHXPU]HV]SU]H]HPQLH=
PLRFL
2FK +P $OH ]DF]DP VL MND 7R W\ONR MDNLH ZLHUV]\NL
*LGHRQSRWU]VQJRZ
&]\ QLH UR]XPLHV] H QLH PRJHP GR WHJR GRSXFL *ZHQQ\" 7\ONR
GODWHJR GDHP VL ZFLJQ Z W WZRM JXSL JU L ]DFKRZ\ZDHP VL WDN
MDNE\PFLRV]XNLZDLLJUD]WZRLPLXF]XFLDPL
7HUD]PQLHRZLHFLR
HE\P QLH ZSDGD QD SRP\V E\ XPU]H ] PLRFL GR FLHELH WR
QDVWSQHJR GQLD ]DWURV]F]\H VL HE\P FL ]QLHQDZLG]LD" 7R E\R
QDSUDZGMDNE\WRSRZLHG]LHU\FHUVNLH]WZRMHMVWURQ\
1DFK\OLDP VL L RGJDUQDP PX WHQ QLHVIRUQ\ NRVP\N ] WZDU]\
1DSUDZGEDUG]RU\FHUVNLH
*LGHRQXPLHFKQVLVDER
8ZLHU]PLWRE\RQDMWUXGQLHMV]HFRNLHG\NROZLHNXF]\QLHP
7HUD]NLHG\MX]DF]DPQLHPRJDPRGHUZDRGQLHJRGRQL0RMHSDOFH
ZGURZD\SRZROLSRWZDU]\*LGHRQD1LH]G\VLRJROLDOHWHQ]DURVWE\
ZGRW\NXEDUG]RVH[\
=RVWDP\ SU]\MDFLyPL WR E\R QDSUDZG JHQLDOQH SRVXQLFLH
PUXNQDP1DW\FKPLDVWFL]QLHQDZLG]LDP
*LGHRQZHVWFKQ
$OH MD ZFDOH WHJR QLH FKFLDHP QDSUDZG SUDJQHP HE\P\ E\OL
SU]\MDFLyPL&KZ\FLPQLH]DUNLSU]\WU]\PDSU]H]FKZLO$WHVRZD
ZSUDZL\FLZWDNZFLHNRH5HV]WD]GDQLD]DZLVDZSRZLHWU]X
3RFK\OLDPVLMHV]F]HEDUG]LHMLXMDPMHJRWZDU]ZGRQLH
1R WR PRH SR SURVWX ]DSDPLWDM VRELH QD SU]\V]R V]HSQDP
1LJG\SU]HQLJG\QLHSURSRQXMSU]\MDQLG]LHZF]\QLH]NWyUVLFDRZDH
3RF]HNDM*ZHQWRMHV]F]HQLHZV]\VWNRPXV]FLMHV]F]HFR]DF]
DOHMDQLHPLDDP]DPLDUX]ZOHND3U]\WNQDPRVWURQLHZDUJLGRMHJRXVW
*LGHRQRGZ]DMHPQLPyMSRFDXQHNQDMSLHUZGHOLNDWQLHLRVWURQLHDOHNLHG\
REMDP JR UNDPL ]D V]\M SRFDXQHN VWD VL JZDWRZQLHMV]\ -HJR OHZD
GR]DQXU]\DVLZPRLFKZRVDFKDSUDZD]DF]DJDG]LPQLHSRV]\LL
SRZROLZGURZDDZGy.LHG\GRWDUDGRSLHUZV]HJRRGJyU\JX]LNDEOX]NL
]DG]ZRQLD PRMD NRPyUND FLOHM ELRUF UR]OHJD VL W\WXRZD PHORGLD ]
3HZQHJRUD]XQD']LNLP=DFKRG]LH
1LHFKWQLHRGVXQDPVLRGQLHJR
/HVOLHSRZLHG]LDDPU]XFLZV]\RNLHPQDZ\ZLHWODF]0XV]RGHEUD
&KRE\QDFKZLOEREG]LHVLPDUWZL
*LGHRQVLXPLHFKQ
1LHEyMVL1LH]DPLHU]DPUR]S\QVLZSRZLHWU]X
/HVOLH" 0RJ SRWHP RGG]ZRQL" , G]LNXM ]D QRZ\ V\JQD EDUG]R
PLHV]QH
/HVOLHZRJyOHPQLHQLHVXFKDD
*ZHQXZDDMVNRF]\DP$QQ.DUHQLQZ\EXFKQD ,Z\GDMHPL
VL H ZLHP WHUD] FR KUDELD QDSUDZG ]DPLHU]D ] W\P NDPLHQLHP
ILOR]RILF]Q\P
.DPLHILOR]RILF]Q\PyJPLVNRF]\3U]\QDMPQLHMZW\PPRPHQFLH
2FK WR ZVSDQLDOH 6SRMU]DDP QD *LGHRQD 0XVLP\ NRQLHF]QLH
SyQLHM
1LHPDVSUDZ\SRZLHG]LDD/HVOLH-XMHVWHPZGURG]H
1DSUDZG"-D
1RFyZDFLZLHMXWXWDMMHVWHP
*G]LH"
1R WXWDM 6WRM XZDVZ NRU\WDU]X $]D PQ LG]LH DNXUDW SR VFKRGDFK
WZRMD PDPD ] URG]HVWZHP = W\X ZOHF]H VL WZRMD FLRWHF]QD EDEND 1R
WHUD]PQLHMXZ\SU]HG]LOLLREDZLDPVLHODGDFKZLODGRFLHELH]DSXNDM
&DUROLQH Z RJyOH QLH ]DGDD VRELH WHJR WUXGX %H] FHUHJLHOL JZDWRZQLH
RWZRU]\DGU]ZL
&LDVWRF]HNRODGRZHGODZV]\VWNLFK]DZRDDSURPLHQLHMF]UDGRFL$
SRWHP RGZUyFLD VL GR SR]RVWD\FK :LG]LFLH ZFDOH VL QLH FDXM
SRZLHG]LDD
5R]G]LD
7HQ G]LH GRSUDZG\ E\ SHHQ VDP\FK G]LZQ\FK U]HF]\ QDMZDQLHMV]D
MHV]F]HUD]ZVNUyFLH*LGHRQPQLHNRFKD$FKQRLRF]\ZLFLHWDKLVWRULD]H
V]SDG L XPLHUDQLHP DOH ZLHF]RUQ\ URG]LQQ\ SLNQLN Z PRLP SRNRMX Z\GDO
PLVLQDMG]LZQLHMV]\=JURPDG]LOLVLSUDZLHZV]\VF\OXG]LHNWyU]\]QDF]\OL
GOD PQLH QDMZLFHM QD ZLHFLH PLDOL VL L JDGDOL MHGHQ SU]H] GUXJLHJR
PDPD FLRFLD 0DGG\ 1LFN &DUROLQH /HVOLH L *LGHRQ , ZV]\VF\ PLHOL QD
WZDU]DFKF]HNRODGSRQLHZDFLRWFH*OHQG]LHL&KDUORWFLHSU]HV]HGDSHW\WD
ODG\$ULVWD]]DVDG\JDUG]LDVRG\F]DPLPLHOLP\FD\F]HNRODGRZ\WRUWGOD
VLHELH 0RH WR ]D VSUDZ WRUWX PLG]\ *LGHRQHP L PRM URG]LQ
QDW\FKPLDVW]DSDQRZDDEOLVNRDPRHWRGODWHJRHE\WDNUR]OXQLRQ\
MDNLP JR QLJG\ ZF]HQLHM QLH ZLG]LDDP , WR PLPR L PDPD L FLRFLD 0DGG\
]DGDZD\ PX V]HUHJ G]LZQ\FK D F]DVHP ZUF] SU]\NU\FK S\WD D 1LFN Z
GDOV]\PFLJXXSDUFLHQD]\ZD*ROOXPHP
.LHG\ SRFKRQOLP\ ZV]\VWNR FR GR RNUXV]ND FLRFLD 0DGG\ ZVWDD
SRVWNXMF
&K\EDPXV]LQDGyZVSRPyF$ULVW3DQ7XUQHUUD]HP]W\PPD\P
ZLHOELFLHOHP &KDUORWW\ ZGDU VL GR GRPX L QD SHZQR ZFL NyF VL R
EHJRQLH 2EGDU]\D *LGHRQD MHGQ\P ]H VZ\FK UyDQ\FK XPLHFKyZ ]
GRHF]NDPL :LH SDQ MDN QD GH 9LOOLHUVD MHVW SDQ QDSUDZG QDG]Z\F]DM
V\PSDW\F]Q\*LGHRQLH
*LGHRQWHVLSRGQLyV
%DUG]R G]LNXM RGU]HN ZHVRR L XFLVQ UN FLRFL 0DGG\
1LH]Z\NOHPLRE\RSDQLSR]QD
8FK /HVOLH ]G]LHOLD PQLH RNFLHP Z HEUD 'R WHJR MHVW GREU]H
Z\FKRZDQ\ 'ZLJD W\HN GR JyU\ NLHG\ GDPD ZVWDMH , Fy ]D VRGNL W\HN
6]NRGDHWRWDNLGUD
3U]HZUyFLDPRF]DPL
0DPDRWU]HSDDRNUXFK\]VXNLHQNLLSRVWDZLD&DUROLQHL1LFNDQDQRJL
:\GZRMHFKRGFLHMXF]DVGRyND
0DPRRGH]ZDVL1LFN]Z\U]XWHP-HVWSLWHNDMDPDPGZDQDFLH
ODW
-DWHE\PMHV]F]HFKWQLH]RVWDDSURV]&DUROLQHVSRMU]DDQLHZLQQLH
QD*LGHRQD/XELFLSRZLHG]LDD-HVWHPL\LVWUDV]QLHSU]\VWRMQ\
1R QDSUDZG V]HSQD GR PQLH /HVOLH &]\ RQ VL F]DVHP QLH
]DF]HUZLHQL"
7DNWRZ\JOGDR$OHVRGNR
RNLH/HVOLHSRQRZQLHZ\OGRZDZPRLFKHEUDFK
*DSLV]VLMDNFLHOQDPDORZDQHZURWDV\NQD
: W\P PRPHQFLH ;HPHULXV ZOHFLD SU]H] ]DPNQLWH RNQR L Z\OGRZD QD
VWROHEHNDMF]]DGRZROHQLHP
.LHG\ PGU\ L QDG]Z\F]DM SLNQ\ GHPRQ ZUyFL SHHQ QDG]LHL ]H VZHM
Z\SUDZ\PXVLDQLHVWHW\VWZLHUG]LHZW\PF]DVLHG]LHZF]\QDQLHVWUDFLD
DQLVZRMHMEOX]NLZNRORU]HyW\FKVLNyZDQLVZHMQLHZLQQRFL]DF\WRZD]
ZDVQHMQLHQDSLVDQHMSRZLHFL
=DPNQLMVLZ\FHG]LDPQLHPRZMHJRVWURQ
&KFLDHP W\ONR SRZLHG]LH U]XFL REUDRQ\ H E\D RND]MD : NRFX
MX QLH MHVWH QDMPRGV]D L NWR ZLH F]\ MXWUR ]QRZX QLH EG]LHV] EH] UHV]W\
QLHQDZLG]LWHJRIDFHWD
.LHG\ FLRFLD 0DGG\ Z\V]D D PDPD Z\SURZDG]LD ] SRNRMX PRMH
URG]HVWZR*LGHRQ]DPNQGU]ZLLVSRMU]DQDQDV]XPLHFKHP
/HVOLHSRGQLRVDRELHUFH
2QLH]DSRPQLM-DQLHSyMG0DPGRRPyZLHQLD]*ZHQZDQHVSUDZ\
FLOHWDMQH
7RMDWHQLHLGR]QDMPL;HPHULXVZVNRF]\QDPRMHyNRLXPRFL
VLQDSRGXV]FH
/HVZ\GDMHPLVLHXNU\ZDQLHF]HJRNROZLHNSU]HG*LGHRQHPQLHMHVW
MXNRQLHF]QHSRZLHG]LDDP0\OHGREU]HE\RE\ZU]XFLFDQDV]
ZLHG]GRMHGQHJRNRWD1RFDNLHPDGQLHWRXMDP
7\P EDUG]LHM H PRLP ]GDQLHP *RRJOH QLHZLHOH WX SRPRH ZWUFL ]
GUZLQ*LGHRQ:\EDF]
/HVOLH DOH SDQ :KLWPDQ SRND]D PL RVWDWQLR WDNL DGQ\ VHJUHJDWRU Z
NWyU\P]HEUDDZV]HONLHKPLQIRUPDFMH
HFR"/HVOLHSRGSDUDVLSRGERNL$MDZDQLHP\ODDPHPRH
QLH MHVWH WDNLP DURJDQFNLP GXSNLHP MDN ]DZV]H PyZLD *ZHQ $NXUDW
DGQ\1LHFR]PLHV]DQD]PDUV]F]\DQRV
&y WR ]D FKDPVWZR H :LHZLyUND SRND]XMH ZV]\VWNLP PyM VHJUHJDWRU
7RLQWHUQHWRZHOHG]WZRQDSRF]WNXE\RZV]\VWNLPFRPLD\P\LE\DP]
QLHJRGXPQD
7\PF]DVHPGRZLHG]LD\P\VLRZLHOHZLFHMZ\MDQLDP*LGHRQRZL
3R SLHUZV]H /HVOLH MHVW JHQLDOQD D SR GUXJLH ZLHORNURWQLH VSRWNDDP VL ]
PRLPG]LD
1LH PD PRZ\ R W\P HE\ Z\MDZLD PX QDV]H UyGD /HVOLH
VSLRUXQRZDD PQLH Z]URNLHP 2Q ZFL MHVW MHGQ\P ] QLFK *ZHQ 1DZHW
MHOLRPDPLKRUPRQDOQLHWZRMH]P\V\
*LGHRQXPLHFKQVLVLDGDMFSRWXUHFNXQDG\ZDQLH
2NHM:WDNLPUD]LHQDMSLHUZMDQLHF]HNDMFQD]JRG/HVOLH]DF]
UD]MHV]F]HRSRZLDGDRSDSLHUDFKNWyUHGRVWDRG3DXOD
: SU]HFLZLHVWZLH GR PQLH /HVOLH E\D ZLFHM QL SU]HUDRQD V\V]F H
PDP XPU]H MDN W\ONR NUJ NUZL VL ]DPNQLH 3RG SLHJDPL ]URELD VL
]XSHQLHEODGD
&]\PRJ]REDF]\WHSDSLHU\"VS\WDD
-DVQH
*LGHRQ Z\FLJQ ] NLHV]HQL VSRGQL NLOND ]RRQ\FK NDUWHN SDU LQQ\FK
Z\M]NLHV]HQLNRV]XOL
3DSLHU E\O SRyN\ L PRFQR SRSU]HFLHUDQ\ QD ]JLFLDFK R LOH GREU]H
ZLG]LDDP
/HVOLHSDWU]\DQDQLHJRZRVXSLHQLX
, WDN SR SURVWX VSDFHUXMHV] VRELH ] W\P Z NLHV]HQLDFK" 7R FHQQH
RU\JLQDOQH GRNXPHQW\ D QLH FKXVWHF]NL GR QRVD 6LJQD SR QLH
1LHPDOVLMXUR]SDGDM7\SRZ\IDFHW2VWURQLHUR]R\DNDUWNL,MHVWH
FDNRZLFLHSHZQ\HWRQLHVIDOV\ILNDW\"
*LGHRQZ]UXV]\UDPLRQDPL
1LHMHVWHPDQLJUDIRORJLHPDQLKLVWRU\NLHP$OHZ\JOGDMGRNDGQLHWDN
VDPRMDNRU\JLQD\SU]HFKRZ\ZDQHSU]H]6WUDQLNyZ
*LRUGDQR"SRZWyU]\DP]GXPLRQD
7DN1LHF]\WDDMHJRUR]SUDZ"/HVOLHNDUWNRZDDNVLN6WUDQLF\
PXVLHOL JR SU]\M GR OR\ HE\ SU]HVWD WUEL QD SUDZR L OHZR R VZRLFK
WHRULDFK
=DZVW\G]RQD SRNUFLDP JRZ -X SR SLHUZV]\P ]GDQLX VWUDFLDP
]DLQWHUHVRZDQLHSLVDQLQ
*LRUGDQDSRPLMDMFVDPIDNWHQDSLVDWR*LRUGDQRWHFR
2EXGFLHPQLHMDN]URELVLFLHNDZLHSRZLHG]LD;HPHULXVL]DPNQ
RF]\3RWU]HEXMGU]HPNLQDWUDZLHQLH
1LJG\ QLH WUDNWRZDQR SRZDQLH *LRUGDQD MDNR KLVWRU\ND ZUyG
6WUDQLNyZWDNHZWUFL*LGHRQ2SXEOLNRZDEH]DGQ\]ELyUZWSOLZ\FK
H]RWHU\F]Q\FK KLVWRULL NWyU\FK ]ZROHQQLF\ QD]\ZDM KUDELHJR :\QLHVLRQ\P
3U]HREUDRQ\PFRNROZLHNE\WRPLDR]QDF]\
0RJ FL WR GRNDGQLH Z\MDQL /HVOLH SRGHWNQD PX $QQ .DUHQLQ
SRGQRVMDNE\WRE\GRZyGU]HF]RZ\:VZRLFKEDGDQLDFKKLVWRU\F]Q\FK
*LRUGDQR QDWNQ VL QD SURWRNR\ LQNZL]\F\MQH L OLVW\ ] V]HVQDVWHJRZLHNX
UyGD GRZRG] H KUDELD GH 6DLQW *HUPDLQ MDNR EDUG]R PRG\ F]RZLHN
VSRG]LZF]DVLHMHGQHM]HVZ\FKSRGUy\G]LHFNR]SHZQKUDELRZVNFyUN
R LPLHQLX (OLVDEHWWD GL 0DGURQH NWyUD SU]HE\ZDD Z NODV]WRU]H $ SU]\ WHM
RND]MLZ]LDJERNLZGHFKQRWDNSHZQLHSU]HGWHPDOERSRWHPZV]\VWNR
MHMRVRELHRSRZLHG]LDSUDZGRSRGREQLHGODWHJRHE\MHV]F]HPRG\LJXSL
DPRHSRSURVWXF]XVLEH]SLHF]Q\
:V]\VWNRWR]QDF]\FR"]DS\WDDP
%DUG]R FKWQLH XMDZQL MHM ZV]HONLH LQIRUPDFMH R VZRLP SRFKRG]HQLX L
SUDZG]LZ\P QD]ZLVNX R XPLHMWQRFL SRGUy\ Z F]DVLH L R W\P H MHVW Z
SRVLDGDQLX EH]FHQQ\FK WDMHPQLF 7DMHPQLF NWyUH PRJ PX XPROLZL
Z\SURGXNRZDQLHNDPLHQLDILOR]RILF]QHJR
*LGHRQVNLQJRZMDNE\]QDWKLVWRULDOH/HVOLHQLHGDDVL]P\OL
1LHVWHW\ZV]HVQDVWRZLHF]Q\FK:RV]HFKQLH]RVWDRWRGREU]HSU]\MWH
PyZLDGDOHM8]QDQRKUDELHJR]DJURQHJRGHPRQDDRMFLHF(OLVDEHWW\E\
WDNZFLHN\H]DR\6RMXV])ORUHQFNLLSRZLFLUHV]W\FLDQDWURSLHQLH
KUDELHJRLMHPXSRGREQ\FKWDNVDPRMDNZLHOHSRNROHSRQLP
=DPLOND -DN MD GR WHJR GRV]DP" %RH PRMD JRZD MHVW WDN
Z\SHQLRQDLQIRUPDFMDPLHZ\GDMHPLVLLZNDGHMFKZLOLPRHSNQ
$ Fy X GLDEOD PD ] W\P ZVSyOQHJR 7RVWRM" VS\WD *LGHRQ
VSRJOGDMF]LU\WDFMQDNVLNVSUHSDURZDQSU]H]/XFDVD1LHJQLHZDM
VLDOHQDSUDZGQLHSRZLHG]LDDPLGRWGQLFQRZHJR
/HVOLHU]XFLDPXSRQXUHVSRMU]HQLH
=D WR PQLH WDN ZWUFLDP SRVSLHV]QLH $OH PLDD Z\MDQL MDNLH
]DPLDU\PDKUDELDZREHFNDPLHQLDILOR]RILF]QHJR
-DVQH /HVOLH ]PDUV]F]\D F]RR &KFLDDP ]UREL GXV]\ ZVWS ER
RF]\ZLFLH WR FKZLO WUZDR QLP SRWRPNRZLH KUDELHJR GL 0DGURQH VSRWNDOL
SLHUZV]HJRSRGUyQLNDZF]DVLH/DQFHORWDGH0RHV]WRVSRNRMQLHVNUyFL
ZSDG MHM Z VLRZR *LGHRQ %R D WDN VWUDV]QLH GXR F]DVX WR QLH PDP\
3RMXWU]H ]QRZX VSRW\NDP\ VL ] KUDEL D W\PF]DVHP ]JRGQLH ] MHJR
SROHFHQLHPPDP]DDWZLNUHZ/XF\L3DXOD2EDZLDPVLHMHOLPLVLWR
QLHXGDKUDELDZ\FLJQLH]NDSHOXV]DLQQ\SODQ:HVWFKQ1RZLF"
$OHQLHPRHP\OHNFHZD\V]F]HJyyZ/HVOLHUyZQLHZHVWFKQDLQD
FKZLO VFKRZDD WZDU] Z GRQLDFK 1R GREUD 6WUDQLF\ VG] H NDPLH
ILOR]RILF]Q\ WR FR FR Z VSRVyE ]GHF\GRZDQ\ SFKQLH OXG]NR GR SU]RGX
SRQLHZDXOHF]\M]ZV]HONLFKFKRUyESUDZGD"
3UDZGDSRZLHG]LHOLP\]*LGHRQHPMHGQ\PJRVHP
$OH /XF\ L 3DXO RUD] G]LDGHN *ZHQQ\ D WDNH F]RQNRZLH 6RMXV]X
)ORUHQFNLHJRE\OL]GDQLDHWRNDPVWZR
6NLQDPJRZ
3RF]HNDM *LGHRQ ]PDUV]F]\ EUZL ']LDGHN *ZHQQ\" 1DV] :LHONL
0LVWU]QLP]RVWDQLPPyMZXM)DON"
=QRZX VNLQDP JRZ W\P UD]HP ] SHZQ\P SRF]XFLHP ZLQ\ 3U]\MU]D
PLVLLQDJOHQDMZ\UDQLHMJRROQLR
0yZGDOHM/HVOLHSRZLHG]LD1DFRVLQDWNQD"
/XF\L3DXOXZDDOLHKUDELDFKFH]GRE\NDPLHILOR]RILF]Q\Z\F]QLH
GODVLHELH/HVOLHSU]HUZDDQDFKZLOHE\VLXSHZQLHVSLMDP\VRZD]
MHM XVW 3RQLHZD NDPLH ILOR]RILF]Q\ MHJR L W\ONR MHJR PD XF]\QL
QLHPLHUWHOQ\P
*LGHRQLMDPLOF]HOLP\-HOLRPQLHFKRG]LE\DPSRGZUDHQLHPRGNU\
/HVOLH-HOLFKRG]LR
*LGHRQD QLHZLHP :\UD]MHJR WZDU]\ QDZHWZ SU]\EOLHQLX QLH ]GUDG]D
FRF]XMH
+UDELD PXVLD RF]\ZLFLH Z\P\OL W FD EXMG ] UDWXQNLHP GOD
OXG]NRFL EDMX EDMX HE\ SU]HNRQD OXG]L GR G]LDDQLD QD MHJR U]HF]
FLJQD /HVOLH 5DF]HM QLH XGDRE\ PX VL ]EXGRZD WDN SRWQHM WDMQHM
RUJDQL]DFMLJG\E\Z\MDZLFRQDSUDZG]DPLHU]D
, WR ZV]\VWNR" &KRG]L W\ONR R WR H WHQ VWDU\ SU\N ERL VL PLHUFL"
VS\WDDP
%\DPQLHPDOWURFKUR]F]DURZDQD,WHPXPDMVX\WHWDMHPQLFH"3RWR
FD\WHQWUXG"
3RGF]DV JG\ MD VFHSW\F]QLH NUFLDP JRZ L ]DF]\QDDP Z P\ODFK
WZRU]\ ]GDQLH ]DF]\QDMFH VL RG DOH EUZL *LGHRQD MHV]F]H EDUG]LHM VL
GRVLHELH]EOL\\
7RE\SDVRZDRPUXNQ&KROHUD/HVOLHPDUDFM3DVXMH
&RSDVXMH"VS\WDDP
=HUZDVLL]DF]SU]HPLHU]DSRNyM
1LH PRJ XZLHU]\ Z WR H PRMD URG]LQD RG ZLHNyZ OHSR FKRG]LD ]D
QLPQDV]QXUNXSRZLHG]LDHMDOHSRFKRG]LHP]DQLPQDV]QXUNX
=DWU]\PD VL SU]HGH PQ L Z]L JERNL ZGHFK :R F]DVX Z\SHQL
SRZLHWU]HMHGHQ]QLFKW\ONRRWU]\PD\FLHZLHF]QH0RQDVL]RULHQWRZD
MHOL VL WR GRNDGQLH SU]HF]\WD =DUD]\ XOHF]\ L ZV]HONLH FLHUSLHQLH SRG
GZXQDVWRJZLD]G Z\SHQL VL SU]\U]HF]HQLH 2F]\ZLFLH HE\ GD NRPX
\FLHZLHF]QH WD VXEVWDQFMD PXVL SU]HFLH OHF]\ZV]HONLH FKRURE\ 3RWDU
F]RRLZVND]DQDSRVWU]SLRQHNDUWNLQDG\ZDQLH$SU]HSRZLHGQLHNWyUH
KUDELD]DWDLSU]HG6WUDQLNDPLPyZLWRMHV]F]HZ\UDQLHM
: PDJLF]Q\P NDPLHQLX XNU\WHM ZLHF]QRFL Z PRGRFL V]DWDFK QRZHM
VL\ WFKQLHQLH EG]LH PX GDQD PRF QLHPLHUWHOQRFL -DNLH WR SURVWH
'ODF]HJR MX GDZQR QD WR QLH ZSDGHP" %\HP WDN ]DILNVRZDQ\ QD W\P H
*ZHQGRO\QPXVLXPU]HLHPyJE\PE\]DWRRGSRZLHG]LDOQ\HSUDZGD
ZRJyOHGRPQLHQLHGRFLHUDDFKR]QDMGRZDDVLWXRERN
1R Fy /HVOLH QLH PRJD VL SRZVWU]\PD RG OHNNR WULXPIXMFHJR
XPLHV]NX =DNDGDP H WZRMH PRFQH VWURQ\ GRW\F] LQQ\FK G]LHG]LQ
3UDZGD*ZHQQ\"$SR]DW\PPLDHFRURELGRGDDSRMHGQDZF]\PWRQHP
&KZ\FLDPSDSLHU\*LGHRQD
/HF]VWU]HVL'ZXQDVWHMJZLD]G\SRZVWDQLH]LHPVNLHJRF]DVX]DF]QLH
RGOLF]DQLH =QLNQLH PRGRFL ZLHF]\VWHM RFKURQD GE ZLHF]Q\ VZHJR \ZRWD
GRNRQD/HF]FHOVZyMRVLJQRU]H]GRDJG\VLGZXQDVWHMJZLD]G\EODVN
UR]S\QLH MHOL ] PLRFL VDPD ORV SU]\ZRD L Z SRRG]H WHM PLRFL ]JLQLH
F]\WDDP GXNDMF L SUyEXMF ]LJQRURZD IDNW H SU]\ W\FK VRZDFK
SRF]XDPMDNZRVNLQDUNDFKVWDMPLGED1RGREUDGZXQDVWDJZLD]GD
WRMDDOHFDDUHV]WDWRGODPQLHF]DUQDPDJLD
7X QD PDUJLQHVLH MHVW QDSLVDQH -DN W\ONR ]GREG HOLNVLU RQD PXVL
XPU]H SRZLHG]LDD /HVOLH ]DJOGDMF PL SU]H] UDPL 7R FK\ED
UR]XPLHV] FR" 3U]\WXOLD PQLH PRFQR 1LJG\ SU]HQLJG\ QLH ZROQR FL
]QDOH VL Z SREOLX WHJR PRUGHUF\ F]\ WR MDVQH" 7HQ SU]HNOW\ NUJ NUZL
QLJG\QLHPRH]RVWD]DPNQLW\]DDGQFHQ2GVXQDPQLHOHNNRRG
VLHELH/XF\L3DXO]URELOLFRPRJOLXFLHNDMF]FKURQRJUDIHP*XSLRW\ONR
H LVWQLHMH MHV]F]H WHQ GUXJL FKURQRJUDI 3XFLD PQLH L VSRMU]DD ]
Z\U]XWHP QD *LGHRQD , H MHGQD ] RVyE Z W\P SRNRMX QLH PLDD QLF
OHSV]HJR GR URERW\ MDN W\ONR QDSHQLD JR SLOQLH NUZL ZV]\VWNLFK
SRGUyQLNyZZF]DVLH:WHMFKZLOLPDV]PLWXSU]\VLFHWHQKUDELDQLJG\
QLHEG]LHPLDRND]MLXGXVLDOER]DV]W\OHWRZD*ZHQDOER
;HPHULXVSRGHUZDVL]JERNLHJRVQX
2WUX ]DVWU]HOL SRZLDUWRZD SRZLHVL VNUyFL R JRZ ]DGHSWD QD
PLHU XWRSL ]U]XFL ] GDFKX ZLHRZFD ZRD ]DFKZ\FRQ\ 2 FR
FKRG]L"
/HF] FHO VZyM RVLJQ RU]H ]GRD JG\ VL GZXQDVWHM JZLD]G\ EODVN
UR]S\QLHU]HNFLFKR
*LGHRQ2QDQLHSRZLQQDXPU]H
&KFLDHSRZLHG]LHQLHPRHXPU]HSRSUDZLDJR/HVOLH
0XVLPRHPDSRZLQQDZ\UHF\WRZD;HPHULXVRSXV]F]DMFJRZ]
SRZURWHPQDDS\
*LGHRQSU]\NXFQQDSU]HFLZQDVQDSRGRG]H
%HUWLH ]DUD] EG Z GRPX ;HPHULXV QLHVWHW\ QLH E\ WDNL WDNWRZQ\
=ZLHVL VL JRZ Z Gy ] GDV]NX QDG GU]ZLDPL L Z\SLHZ\ZD VNU]HF]F\P
JRVHP3RGGDV]NLHPVWDOLLVLFDRZDOL
;HPHULXVRW\PZLHG]LDQLNRPXQLHSRZLHG]LD
: NRFX QLHFKWQLH UR]VWDDP VL ] *LGHRQHP L ZUyFLDP GR VZRMHJR
SRNRMX ] PRFQ\P SRVWDQRZLHQLHP UR]P\ODQLD SU]H] FD QRF
WHOHIRQRZDQLD L VQXFLD SODQyZ /HGZLH MHGQDN W\ONR QD FKZLON
Z\FLJQDP VL QD yNX D MX VSDDP PRFQR L JERNR &K\ED SRGREQLH
E\R ] SR]RVWD\PL QD Z\ZLHWODF]X QLH ]REDF]\DP UDQR DGQ\FK
QLHRGHEUDQ\FKSRF]H
= Z\U]XWHP VSRMU]DDP QD ;HPHULXVD NWyU\ ]ZLQLW\ Z NEHN Z QRJDFK
yNDSU]HFLJDVLLJRQR]LHZD
3RZLQLHQHE\PQLHREXG]L
$FRMDMHVWHPEXG]LNQLHPLHUWHOQDSDQL"
0\ODDPHGXFK\WR]QDF]\GHPRQ\QLHSRWU]HEXMVQX
0RH L QLH SRWU]HEXM RGSDU ;HPHULXV $OH SR WDN VXW\P SRVLNX
GU]HPND QD SHZQR GREU]H UREL =PDUV]F]\ QRV 3RGREQLH MDN WRELH
GREU]H]URELE\SU\V]QLF
1LHVWHW\PLDUDFM3RQLHZDZV]\VF\MHV]F]HVSDOLZNRFXE\DVRERWD
PRJDP ]DM D]LHQN QD FD ZLHF]QR L ]X\ RJURPQH LORFL V]DPSRQX
HOX SRG SU\V]QLF SDVW\ GR ]EyZ POHF]ND GR FLDD L NUHPX
SU]HFLZ]PDUV]F]NRZHJRPDP\
1LHFK]JDGQ\FLHMHVWSLNQHDW\F]XMHV]VLFKDFKDFKDMDNQRZR
QDURG]RQDVNRPHQWRZD;HPHULXVNLHG\XPLHFKQDPVLSURPLHQQLHGR
VZHJRRGELFLDZOXVWU]H
:DQLHWDN,ZLHV]FR"1DJOH]DF]DPSDWU]HQD\FLH]XSHQLHLQQ\PL
RF]DPL
;HPHULXVSDUVNQ
3HZQLHFLVL]GDMHHGR]QDDREMDZLHQLDDOHZU]HF]\ZLVWRFLWRW\ONR
KRUPRQ\ ']L SLHMHV] ]H V]F]FLD D MXWUR EG]LHV] NRPSOHWQLH ]DDPDQD
SRZLHG]LD ']LHZF]\QR 7R VL QLH VNRF]\ SU]H] QDMEOLV]H GZDG]LHFLD
WU]\G]LHFL ODW $ SRWHP JDGNR ZHMG]LHV] Z PHQRSDX] &KRFLD PRH W\
=D SR]ZROHQLHP WR QLHELHVNLH EDUG]LHM PL VL SRGREDR ]DXZD\ SDQ
%HUQKDUGRGNXU]DMFRJURPQPLRWUDP\REUD]yZZKROX
0DPDQDW\FKPLDVWSRSG]LDQDJyU
$OH PD SDQ UDFM SDQLH %HUQKDUG 7R MHVW ]D EDUG]R Z\P\OQH =E\W
HOHJDQFNLH MDN QD VRERWQLH SRXGQLH %G]LH VRELH MHV]F]H Z\REUDD QLH
ZLDGRPRFRHVLVSHFMDOQLHGODQLHJRWDNZ\VWURLDP
3RVDDPSDQX%HUQKDUGRZLSHQHZ\U]XWXVSRMU]HQLH
,F]HPXSDQWR]UREL"
%R ]DS\WDD %U]RZH RF]\ PUXJQ\ GR PQLH ]]D VRZLFK RNXODUyZ D
SRWHPZ\MU]DSU]H]RNQRQDNRU\WDU]X2SU]\MHFKDDOLPX]\QD&]\PDP
SU]HND]D H WURFK VL VSyQL" %R GR WHJR QLHELHVNLHJR NRVWLXPX QLH PD
RGSRZLHGQLFKEXWyZ
-D WR ]UREL =DU]XFLDP WRUE QD UDPL 'R ZLG]HQLD SDQLH
%HUQKDUG,SURV]PLHRNRQDMXSDQZLHNRJR
2F]\ZLFLHSDQQR*ZHQGRO\Q-XSDQLZLHNWRQDZHWVLQLH]EOL\GR
MXSDQLZLHF]HJR = QLHPDO QLHGRVWU]HJDOQ\P XPLHFKHP SRZUyFL GR
VZRLFK]DM
: OLPX]\QLH QLH E\R *LGHRQD %\ ]D WR SDQ 0DUOH\ NWyU\ RWZRU]\ PL
GU]ZL -HJR RNUJD MDN NVL\F Z SHQL WZDU] E\D UyZQLH ]DFLWD MDN SU]H]
ZV]\VWNLH RVWDWQLH GQL 0RH QDZHW RGURELQ EDUG]LHM 1LH ]DUHDJRZD QD
PRMHHQWX]MDVW\F]QH-DNLSLNQ\ZLRVHQQ\G]LH
*G]LHMHVWSDQL*UDFH6KHSKHUG"]DS\WD]DPLDVWWHJR0DPSROHFHQLH
E\QLH]ZRF]QLHGRVWDUF]\MGR7HPSLH
7R EU]PL WDN MDNE\ FKFLD M SDQ GRSURZDG]L GR VG]LHJR OHGF]HJR
SRZLHG]LDDP
*G\E\PZLHG]LDDMDNEOLVNDE\DPSUDZG\Z\JDV]DMFWXZDJSHZQLH
QLHZVLDGDE\PGROLPX]\Q\ZWDN]QDNRPLW\PKXPRU]H
:NRFXPDPDE\DJRWRZDDSRGUyGR7HPSLHSU]HELHJDV]\ENRMDNQD
ORQG\VNLHZDUXQNL
6WDOLP\W\ONRZWU]HFKNRUNDFKLMXSRSLG]LHVLFLXPLQXWDFKE\OLP\
QD PLHMVFX D MD ]QRZX ]DGDZDDP VRELH S\WDQLH GODF]HJR SR SURVWX QLH
PRHP\SRMHFKDPHWUHP
7DNEDUG]R]DWREWVNQLHP
&LHV]\DP VL H QLH E\R WX ;HPHULXVD NLHG\ RGV]HSQDP -D ]D WRE
WH REMDP *LGHRQD ]D V]\M L QDPLWQLH RGGDDP PX SRFDXQHN *LGHRQ
RSDU PQLH R FLDQ L RGVNRF]\OLP\ RG VLHELH GRSLHUR ZWHG\ JG\ WX RERN
PQLHVSDGREUD]%H]WFKXSUyERZDDPSRZLHVLJR]SRZURWHPQDFLDQLH
*LGHRQPLSRPDJD
&KFLDHP ZF]RUDM ZLHF]RUHP MHV]F]H GR FLHELH ]DG]ZRQL DOH SRWHP
SRP\ODHPHWZRMDPDPDPDUDFMEDUG]RSRWU]HERZDDVQX
1RU]HF]\ZLFLHSRWU]HERZDDP2SDUDPVL]QyZSOHFDPLRFLDQL
XPLHFKQDPVLGRQLHJR6\V]DDPHG]LZLHF]RUHPLG]LHP\UD]HPQD
LPSUH]
*LGHRQVLUR]HPLD
7DN UDQGND ZH F]ZRUR UD]HP ] PRLP PRGV]\P EUDWHP 5DSKDHO E\
]DFKZ\FRQ\ ]ZDV]F]D JG\ VL GRZLHG]LD H WR E\ SRP\V /HVOLH
3RJDVNDF]XENDPLSDOFyZPyMSROLF]HN-DNRLQDF]HMZ\REUDDHPVRELH
QDV] SLHUZV] UDQGN $OH WZRMD SU]\MDFLyND SRWUDIL E\ QLH]Z\NOH
SU]HNRQXMFD
&]\ ]GUDG]LD FL WH H WR MHVW LPSUH]D NRVWLXPRZD" *LGHRQ Z]UXV]\
UDPLRQDPL
0QLHMXQLFQLH]G]LZL
&]XENLMHJRSDOFyZSRZGURZD\ZGyPRLFKSROLF]NyZDGRV]\L
:F]RUDM ZLHF]RUHP PLHOLP\ MHV]F]H W\OH GR HHH RPyZLHQLD
2GFKU]NQ&KFLDE\PVLGRZLHG]LHZV]\VWNLHJRRWZRLPG]LDGNXLMDN
GR OLFKD ]GRDD VL ] QLP VSRWND $OER UDF]HM NLHG\ , R FR FKRG]L ] W
NVLNNWyU/HVOLHEH]SU]HUZ\Z\PDFKLZDDMDNE\WRE\ZLW\*UDDO"
2FK $QQD .DUHQLQD 3U]\QLRVDP FL M FKR /HVOLH XZDD H
SRZLQQ\P\ VL MHV]F]H ] W\P ZVWU]\PD D EG]LHP\ PLD\ FDNRZLW
SHZQR H MHVWH SR QDV]HM VWURQLH =DPLHU]DDP VLJQ GR WRUHENL DOH
MHM QLH E\R &PRNQDP SRLU\WRZDQD &KROHUD 0DPD Z\VLDGDMF ]DEUDD
PRMWRUHEN
1DJOHUR]OHJDVLPHORGLD1LFHJX\VILQLVKODVW5R]HPLDDPVL
&]\E\WRE\
+P1R$FRQLHSDVXMH"*LGHRQZ\RZLNRPyUN]NLHV]HQLVSRGQL
-HOLWR0DUOH\WRJR2FK0RMDPDWNDZHVWFKQ=QDOD]DLQWHUQDW
GOD 5DSKDHOD L FKFH E\P JR SU]HNRQD HE\ WDP SRMHFKD 3RWHP GR QLHM
RGG]ZRQL
.RPyUNDQLHSU]HVWDZDDG]ZRQL
2GELHU]DMDZW\PF]DVLHV]\ENRVNRF]SRNVLN:\VWDUWRZDDPQLH
F]HNDMF QD MHJR RGSRZLHG 3DQ 0DUOH\ Z SLZQLF\ GRVWDQLH V]DX DOH QLH
SU]HMPRZDDP VL W\P 'U]ZL GR 6PRF]HM 6DOL E\\ OHNNR XFK\ORQH L MX ]
GDOHNDXV\V]DDP]GHQHUZRZDQ\JRVPDP\
&R WR PD E\ SU]HVXFKDQLH" -X SU]HGVWDZLDP VZRMH SRZRG\
FKFLDDPFKURQLPRMFyUNLPLDDPQDG]LHMHWR&KDUORWWDRG]LHG]LF]\D
WHQJHQ1LHPDPQDWHQWHPDWQLFZLFHMGRGRGDQLD
3URV] XVL ] SRZURWHP 7R ] FD SHZQRFL SRZLHG]LD SDQ
:KLWPDQWRQHPMDNLHJRX\ZDZREHFQLHVIRUQ\FKXF]QLyZ
6]XUDQLHNU]HVH&KU]NQLFLD3RFLFKXSRGNUDGDPVLEOLHM
2VWU]HJDOLP\FL*UDFH*RV)DONDGH9LOOLHUVE\ORGRZDW\
0DPD SHZQLH JDSLD VL QD VZRMH EXW\ ]DGDMF VRELH S\WDQLH SR Fy X
GLDED WDN VL WUXG]LD W\P XELHUDQLHP 2SDUDP VL SOHFDPL R FLDQ WX
RERNGU]ZLDE\OHSLHMV\V]H
-DNH QLHPGU]H E\R P\OH H QLH GRMG]LHP\ GR SUDZG\ 7R E\
SRQXU\JRVGRNWRUD:KLWH
D
0DPDVLQLHRGH]ZDD
:F]RUDM ]URELOLP\ VRELH Z\FLHF]N GR &RWVZROGV L ]R\OLP\ ZL]\W
QLHMDNLHM SDQL 'DZQ +HOOHU R]QDMPL )DON 7R QD]ZLVNR FR FL PyZL
SUDZGD" &KRG]L R SRRQ PyZL GDOHM JG\ PDPD QLH RGSRZLHG]LDD
NWyUD SRPRJD *ZHQGRO\Q SU]\M QD ZLDW 3RQLHZD FDNLHP QLHGDZQR
]DSDFLD]DZ\QDMHPMHMOHWQLHJRGRPNXZDVQNDUWNUHG\WRZVG]LHP
HEG]LHV]WROHSLHMSDPLWD
1D%RJDFR]URELOLFLHWHMELHGQHMNRELHFLH"Z\PNQRVLPDPLH
1LFRF]\ZLFLH$FRSDQLP\ODD"7RE\SDQ*HRUJH
$OH QDMZ\UDQLHM SRGHMU]HZDD GRGD SDQ :KLWPDQ WRQHP SHQ\P
VDUND]PX H FKFHP\ SU]HSURZDG]L MDNLH VDWDQLVW\F]QH U\WXD\ %\D
VWUDV]QLHUR]KLVWHU\]RZDQDLFRFKZLOURELD]QDNNU]\D$NLHG\]REDF]\D
-DNH
DRPDRQLH]HPGODD]HVWUDFKX
&KFLDHPMHMW\ONRGD]DVWU]\NQDXVSRNRMHQLHEXUNQGRNWRU:KLWH
: NRFX QD W\OH GRV]D GR VLHELH H PRJOLP\ ] QL SU]HSURZDG]L Z
PLDUUR]VGQUR]PRZ
7RE\]QRZX)DONGH9LOOLHUV2SRZLHG]LDDQDPQLH]Z\NOHLQWHUHVXMF
KLVWRUL R RZHM QRF\ NLHG\ XURG]LD VL *ZHQGRO\Q 7R EU]PLDR WURFK MDN
VWUDV]QD EDMND ']LHOQD DWZRZLHUQD SRRQD ]RVWDMH ZH]ZDQD GR PRGHM
G]LHZF]\Q\ OHFHM Z EyODFK SRURGRZ\FK XNU\ZDMFHM VL Z VNURPQ\P
GRPNX Z 'XUKDP SU]HG VHNW VDWDQLVWyZ 7D VWUDV]OLZD VHNWD NWyUD
RGSUDZLD MDNLH U\WXD\ QXPHURORJLF]QH MHVW QD WURSLH QLH W\ONR WHM
G]LHZF]\Q\DOHWDNHMHMG]LHFND3RRQDQLHZLHGRNDGQLHFRPDVLVWD]
W\P QLHPRZOFLHP DOH MHM Z\REUDQLD V]DOHMH 3RQLHZD PD GREUH VHUFH L
SRQLHZD ]DSDFRQR MHM ] JyU\ QLHPD NZRW SU]\ RND]ML PRJDE\ PL
]GUDG]L VNG PLDD SLHQLG]H *UDFH QDMSLHUZ SRPDJD G]LHFNX SU]\M
QDZLDWDSRWHPIDV]XMHZLDGHFWZRMHJRXURG]HQLD,SU]\VLJDHQLNRPX
QLHSLQLHRW\PDQLVRZD
3U]H]FKZLOSDQRZDDFLV]D
1RLFR"SRFKZLOLRGH]ZDDVL]DF]HSQLHPDPD3U]HFLHMXZDPWR
RSRZLHG]LDDP
7DNQDSRF]WNXWHWDNP\OHOLP\RGU]HNSDQ:KLWPDQ$SRWHP
VNXSLOLP\ VL QD SDUX GHWDODFK WHM RSRZLHFL 3URV] SRVXFKD :
URNXPLDDSUDZLHGZDG]LHFLDRVLHPODWQRDOHGREU]HZRF]DFKSRRQHM
PRJD XFKRG]L ]D PRG G]LHZF]\Q FLJQ )DON $OH NLP E\D
UXGRZRVD]DWURVNDQDVLRVWUDSU]\V]HMPDP\RNWyUHMPyZLDSDQL+HOOHU"
7DSRRQDMXZWHG\E\DGRV\VWDUDSRZLHG]LDDFLFKRPDPD7HUD]
SUDZGRSRGREQLHMHVWVG]LZVWDUXV]N
0ROLZH $OH QLH PLDD DGQ\FK SUREOHPyZ ] UR]SR]QDQLHP WHM PRGHM
G]LHZF]\Q\QD]GMFLXSRZLHG]LDSDQ:KLWPDQ0RGHMG]LHZF]\Q\NWyUD
WDPWHMQRF\XURG]LDFyUN
7RE\R]GMFLH/XF\
6RZD )DOND E\\ GOD PQLH MDN FLRV SLFL Z RGHN 3RGF]DV JG\ Z
6PRF]HM 6DOL ]DSDQRZDD ORGRZDWD FLV]D PQLH NRODQD VL XJL\ L SRZROL
]VXQDPVLSRFLDQLHQDSRGRJ
7RWRSRP\NDXV\V]DDPZNRFXV]HSWPDP\
: NRU\WDU]X UR]OHJ VL RGJRV F]\LFK NURNyZ DOH QLH E\DP Z VWDQLH
RGZUyFL JRZ\ 'RSLHUR JG\ VL QDGH PQ SRFK\OL ]REDF]\DP H WR
*LGHRQ
&R VL VWDR" Z\V]HSWD NXFDMF RERN PQLH QD SRGRG]H 1LH PRJDP
Z\NU]WXVLVRZDW\ONRZPLOF]HQLXNUFLDPJRZ
3RP\ND*UDFH"U]XFLRVWUR)DONGH9LOOLHUV7DNRELHWD]DWZRFL
UR]SR]QDD FL QD ]GMFLX MDNR U]HNRP VWDUV] VLRVWU NWyUD SU]HND]DD MHM
NRSHUW ] QLHZ\REUDDOQLH Z\VRN VXP SLHQLG]\ , UR]SR]QDD PF]\]Q
NWyU\ZF]DVLHSRURGXWU]\PD/XF\]DUN0RMHJREUDWD
*ZHQGRO\Q MHVW G]LHFNLHP /XF\ L 3DXOD GRGD MDNE\P GR WHM SRU\ WHJR
QLHSRMD
:\GDDP ] VLHELH G]LZQ\ SLVN *LGHRQ ]XSHQLH SREODG\ Z]L PQLH ]D
UFH
0RMDPDPD]DF]DSDND7\OHHWRQLHE\DPRMDPDPD
7RZV]\VWNRQLHE\RE\NRQLHF]QHJG\E\FLHGDOLLPVSRNyMFKOLSQD
*G\E\FLHLFKWDNEH]OLWRQLHQLHSU]HODGRZDOL
1LNW QLH ZLHG]LD H /XF\ L 3DXO RF]HNXM G]LHFND SRZLHG]LD
JZDWRZQLH)DON
3RSHQLOL NUDG]LH SDUVNQ GRNWRU :KLWH 8NUDGOL QDMFHQQLHMV]
ZDVQROR\LPLHOL]DPLDU]QLZHF]\WRFRSU]H]FDHZLHNL
2FK QLHFKH SDQ ]DPLONQLH ]DZRDD PDPD =PXVLOLFLH W\FK
PRG\FK OXG]L HE\ ]RVWDZLOL VZRM XNRFKDQ FyUN ]DOHGZLH GZD GQL SR
QDURG]LQDFK
7RE\WHQPRPHQWZNWyU\PQLHZLHPMDNJZDWRZQLHSRGHUZDDPVL
]]LHPL1LHPRJDPMXWHJRVXFKDDQLVHNXQG\GXHM
*ZHQQ\SRZLHG]LD]QDFLVNLHP*LGHRQDOHVWU]VQDPMHJRGRQLHL
SRSG]LDPSU]HGVLHELH
'RNGELHJQLHV]"'RJRQLPQLHSRNLONXNURNDFK
-DN QDMGDOHM VWG %LHJDP MHV]F]H V]\EFLHM 3RUFHODQD Z ZLWU\QDFK
NWyUHPLMDOLP\FLFKRSREU]NLZDD*LGHRQFKZ\FLPQLH]DUN
,G]WRESRZLHG]LD1LJG]LHFLWHUD]VDPHMQLHSXV]F]
*G]LH]W\XNWR]DQDPLFRZRD
1LHFKFFKOLSQDP1LHFKF]QLNLPUR]PDZLD*LGHRQPRFQLHM
FLVQPRMGR
:LHPJG]LHSU]H]NLONDQDMEOLV]\FKJRG]LQQLNWQDVQLH]QDMG]LH&KRG
WG\
= SURWRNRyZ LQNZL]\F\MQ\FK RMFD GRPLQLNDQLQD *LDQ 3LWUR %DULELHJR
$UFKLZD%LEOLRWHNL8QLZHUV\WHFNLHMZ3DGZLHUR]V]\IURZDQHSU]HWXPDF]RQH
LRSUDFRZDQHSU]H]GRNWRUD0*LRUGDQR
OLSFDURNX
%H]PRMHMZLHG]\0SU]HNRQDRMFD'RPLQLND]WU]HFLHJR]DNRQXF]RZLHND
R ZLHOFH ZWSOLZHM UHSXWDFML GR HJ]RUF\]PyZ V]F]HJyOQHJR URG]DMX DE\
XZROQL MHJR FyUN (OLVDEHWW RG U]HNRPHJR RSWDQLD .LHG\ GRWDUD GR PQLH
ZLDGRPR R W\P EOXQLHUF]\P SU]HGVLZ]LFLX E\R MX ]D SyQR &KR
X]\VNDHP GRVWS GR NDSOLF\ Z NWyUHM RGSUDZLRQR WH KDQLHEQH SUDNW\NL QLH
]GRDHP ]DSRELHF SRGDQLX G]LHZF]\QLH SRGHMU]DQ\FK VXEVWDQFML NWyUH
VSUDZL\ H WRF]\D SLDQ ] XVW Z\ZUDFDD RF]DPL L PyZLD QLHVWZRU]RQH
U]HF]\SRGF]DVJG\RMFLHF'RPLQLNVNUDSODMZRGZLFRQ
:Z\QLNXWHJR]DELHJXFRGRNWyUHJRQLHZDKDPVLX\VRZDWRUWXU\
(OLVDEHWWD MHV]F]H WHM VDPHM QRF\ XWUDFLD RZRF VZHJR FLDD 3U]HG RGMD]GHP
RMFLHF QLH Z\ND]\ZD DGQHJR DOX W\ONR WULXPIRZD ]SRZRGX Z\WU]HELHQLD
GHPRQD :\]QDQLH (OLVDEHWW\ ]RRQH SRG ZS\ZHP WHM VXEVWDQFML L EyOX
VWDUDQQLH ]DSURWRNRRZD L VSLVD MDNR GRZyG MHM V]DOHVWZD 8SU]HMPLH
RGPyZLHP SU]\MFLD RGSLVX L EH] QLHJR PyM UDSRUW GOD SU]HZRGQLF]FHJR
NRQJUHJDFML QLH VSRWND VL ]H ]UR]XPLHQLHP WR SHZQH \F]\E\P VRELH
MHG\QLH DE\P PRLP UDSRUWHP PyJ SU]\F]\QL VL GR WHJR E\ 0 SRSDG X
VZ\FK SURWHNWRUyZ Z QLHDVN DOH QLHZLHONLH UREL VRELH Z W\P Z]JOG]LH
QDG]LHMH
5R]G]LD
3DQ0DUOH\]PDUV]F]\F]RRNLHG\ZSDGOLP\GRSRNRMX]FKURQRJUDIHP
1LH]DZL]DSDQMHM"]DF]DOH*LGHRQQLHGDPXVNRF]\
']LUD]HP]*ZHQGRO\QSRGGDPVLHODSVMLGRURNXRZLDGF]\
3DQ0DUOH\FKZ\FLVLSRGERNL
1LHPRHSDQRGSDU3RWU]HEXMHSDQVZHJRSU]\G]LDXF]DVRZHJRQD
RSHUDFMF]DUQ\WXUPDOLQ
DPDQHSU]H]V]DILU,RLOHSDQQLHSDPLWDRGE\ZDVLRQDUyZQROHJOH
3U]HG SDQHP 0DUOH\HP QD VWROH VWD FKURQRJUDI D NDPLHQLH V]ODFKHWQH
SR\VNLZD\ZZLHWOHODPS\
=PLDQDSODQyZSRZLHG]LDRVFKOH*LGHRQLFLVQPQLH]DUN
1LF R W\P QLH ZLHP , QLH ZLHU] SDQX 3DQ 0DUOH\ VNU]\ZL VL
SRLU\WRZDQ\0yMRVWDWQLUR]ND]PyZLZ\UDQLH
1R WR QLHFK SDQ SR SURVWX ]DG]ZRQL QD JyU L VL GRZLH SU]HUZD PX
*LGHRQLZVND]DWHOHIRQSU]\FLDQLH
7R ZDQLH ]UREL 3DQ 0DUOH\ ] F]HUZRQ\PL XV]DPL SRZOyN VL GR
WHOHIRQX
*LGHRQ SXFL PQLH L SRFK\OL VL QDG FKURQRJUDIHP D MD VWDDP SU]HG
GU]ZLDPLMDNPDQHNLQ]Z\VWDZ\7HUD]NLHG\QLHPXVLHOLP\MXELHFQDJOH
]QLHUXFKRPLDDPMDNQLHQDNUFRQ\]HJDU]DEDZND
1DZHWQLHF]XDPELFLDZDVQHJRVHUFD7DNMDNE\PSRZROL]DPLHQLDDVL
ZNDPLH
:DFLZLH P\OL SRZLQQ\ E\\ ZLURZD Z PRMHM JRZLH DOH WDN VL QLH
G]LDR1LHF]XDPQLFSR]DWS\PEyOHP
*ZHQQ\ ZV]\VWNR MX GOD FLHELH QDVWDZLHP &KRG WX *LGHRQ QLH
F]HNDDSRVXFKDPMHJRSROHFHQLDQLH]ZDDWHQDSURWHVWSDQD0DUOH\D
3URV]WR]RVWDZL7RPRMH]DGDQLH
3U]\FLJQ PQLH GR VLHELH Z]L PRM EH]ZDGQ UN L RVWURQLH ZR\
SDOHFGRSU]HJUyGNLSRGUXELQHP=DUD]GRFLHELHGRF]
1LH PD SDQ ]H]ZROHQLD E\ VDPRZROQLH REVXJLZD FKURQRJUDI
XSRPQLD JR SDQ 0DUOH\ L ]DSD VXFKDZN 1LH]ZRF]QLH ]DZLDGRPL
SDVNLHJRZXMDHQLHSU]HVWU]HJDSDQ]DVDG
7DNQDZHWQDSHZQR*LGHRQXPLHFKQVLOHNNR3U]HGHZV]\VWNLP
GODWHJR H PXVLDHP QR Fy GR PDR GHOLNDWQLH SRZVWU]\PD 0DUOH\D
SU]HGZ\UZDQLHPPLFKURQRJUDIX6NU]\ZLVLJQLHZQLH2SHUDFMDF]DUQ\
WXUPDOLQ L V]DILU EG]LH PXVLDD VL RGE\ LQQHJR GQLD FKR WHUD] PLDE\P
MHV]F]H ZLFHM S\WD GR /XF\ L 3DXOD L VSRWNDQLH ] QLPL EDUG]R E\ VL
SU]\GDR
3RP\ODDPRQDV]\PRVWDWQLPVSRWNDQLX]/XF\L3DXOHPXODG\7LOQH\L
]E\]DF]W\PLJRQRV]F]NDJG\SU]\SRPQLDDPVRELHMDN/XF\QDPQLH
VSRMU]DDLMDNZ\V]HSWDDPRMHLPL0yM
%RHDMDRQLF]\PQLHPLDDPSRMFLD
-HOL/XF\L3DXOVPRLPLURG]LFDPLWRF]\P\MHVWHP\VSRNUHZQLHQL"
*LGHRQ]QRZXVLXPLHFKQ
7R E\R SLHUZV]H FR SU]HPNQR PL SU]H] JRZ SRZLHG]LD )DON L
3DXO V PRLPL GDOHNLPL NX]\QDPL WU]HFLHJR OXE F]ZDUWHJR VWRSQLD 2QL
SRFKRG]RGMHGQHJRDMDRGGUXJLHJR]EOLQLDNyZNDUQHROL
=EDWNL Z PRLP Py]JX ]DF]\ VL ]QRZX REUDFD L ]DKDF]D MHGQD R
GUXJ1DJOHSRF]XDPZJDUGOHSRWQNOXFK
7DWR ]DQLP ]DFKRURZD ZLHF]RUDPL F]VWR QDP FR SLHZD L JUD QD
JLWDU]H8ZLHOELDOLP\WR
1LFN L MD SRZLHG]LDDP FLFKR =DZV]H WZLHUG]L H WR SR QLP
RG]LHG]LF]\DPWDOHQWPX]\F]Q\$RQZRJyOHQLHE\]HPQVSRNUHZQLRQ\
&]DUQHZRV\PDPSR3DXOX3U]HNQDPOLQ
*LGHRQPLOF]D1DMHJRWZDU]\PDORZDRVLZVSyF]XFLH
-HOL /XF\ QLH MHVW PRM NX]\QN W\ONR PRM PDWN WR PRMD PDWND
MHVW PRM FLRWHF]Q EDEN PyZLDP GDOHM $ PRMD EDEND Z
U]HF]\ZLVWRFLMHVW PRMSUDEDEN,PRLPG]LDGNLHPQLHMHVWG]LDGHNW\ONR
ZXMHN +DUU\ 7R RVWDWQLH QLHPDO SU]HODR F]DU JRU\F]\ :\EXFKQDP
QLHSRZVWU]\PDQ\P SDF]HP 1LH ]QRV] ZXMND +DUU\
HJR 1LH FKF HE\
E\ PRLP G]LDGNLHP , QLH FKF HE\ &DUROLQH L 1LFN QLH E\OL PRLP
URG]HVWZHP7DNEDUG]RLFKNRFKDP
*LGHRQ SR]ZROL PL SU]H] FKZLO SDND D SRWHP ]DF] JDVND PQLH SR
ZRVDFKLV]HSWDXVSRNDMDMFR
+HM MX GREU]H *ZHQQ\ WR ZV]\VWNR QLH PD ]QDF]HQLD 2QL SU]H] FD\
F]DVVW\PLVDP\PLOXGPLQLHZDQHMDNLHF]\ZDVSRNUHZLHVWZR
$OH MD ZFL QLHSRFLHV]RQD FLFKR FKOLSDDP 3UDZLH QLH ]DXZD\DP MDN
*LGHRQGHOLNDWQLHSU]\WXOLPQLHGRVLHELH2EMPQLHLPRFQRPQLHWU]\PD
3RZLQQL E\OL PL SRZLHG]LH Z\NU]WXVLDP ZUHV]FLH .RV]XOND *LGHRQD
E\D]XSHQLHPRNUDRGPRLFKH]0DPDSRZLQQDPLSRZLHG]LH
0RHNLHG\E\FLSRZLHG]LDD$OHSRVWDZVLZMHMSRRHQLXNRFKDFLL
GODWHJR GREU]H ZLHG]LDD H SUDZGD FL ]UDQL 3HZQLH QLH PLDD VHUFD WHJR
]UREL 'R *LGHRQD JDVNDD PRMH SOHF\ 7R PXVLDR E\ GOD QLFK
ZV]\VWNLFKVWUDV]QHDV]F]HJyOQLHGOD/XF\L3DXOD
]\SRS\Q\PL]QRZX
$OH GODF]HJR PQLH ]RVWDZLOL" 6WUDQLF\ QLF E\ PL SU]HFLH QLH ]URELOL
'ODF]HJRSRSURVWX]QLPLQLHSRUR]PDZLDOL"
*LGHRQQLHRGSRZLHG]LDRGUD]X
:LHPHSUyERZDOLRGU]HNSRZROL3U]\SXV]F]DOQLHZWHG\JG\/XF\
VL ]RULHQWRZDD HMHVWZ FL\ L VWDRVL GODQLFKMDVQH H WR W\ EG]LHV]
UXELQHP2GFKU]NQ1LHPLHOLZWHG\DGQ\FKGRZRGyZQDVZRMHWHRULH
GRW\F]FH KUDELHJR ,FK RSRZLHFL ]E\ZDQR MDNR G]LHFLQQH SUyE\
XVSUDZLHGOLZLHQLD QLHGR]ZRORQ\FK SRGUy\ Z F]DVLH 0RQD R W\P QDZHW
SU]HF]\WDZ
.URQLNDFK 3U]HGH ZV]\VWNLP G]LDGND 0DUOH\D VWUDV]QLH ZWHG\ ]RFL\ WH
LFKZ\PyZNL:HGXJMHJR]DSLVNyZ/XF\L3DXO]KDELOLSDPLKUDELHJR
$OHPyMG]LDGHN0yMUR]XPEURQLVLSU]HGW\PE\P\OHR/XFDVLH
MDN R NLP LQQ\P QL PRLP G]LDGNX 3U]HFLH E\ ZH ZV]\VWNR
ZWDMHPQLF]RQ\LQDSHZQRZLHU]\/XF\L3DXORZL
'ODF]HJRQLHSU]HV]NRG]LLPZXFLHF]FH"
1LHPDPSRMFLD*LGHRQZ]UXV]\PRNU\PLRGPRLFKH]UDPLRQDPL
%H]GRZRGyZRQWHQLHPyJ]G]LDD]E\WZLHOH1LHFKFLDSU]HFLHQDUDD
VZRMHM SR]\FML Z .UJX :HZQWU]Q\P $ NWR ZLH F]\ PyJ XID ZV]\VWNLP
6WUDQLNRP"1LHPRHP\Z\NOXF]\HE\ZWDPW\FKF]DVDFKNWRNWR]QD
SUDZG]LZHSODQ\KUDELHJR
.WR NWR QD NRQLHF PRH QDZHW ]DPRUGRZD PRMHJR G]LDGND 3RNUFLDP
JRZ 7HJR E\R GOD PQLH ]D ZLHOH DOH *LGHRQ MHV]F]H QLH ]DNRF]\ VZRMHM
WHRULL
1LH]DOHQLH RG WHJR FR JR GR WHJR VNRQLR PRH WZyM G]LDGHN SRSLHUD
SRP\VZ\VDQLD/XF\L
3DXODZSU]HV]RUD]HP]FKURQRJUDIHP
3U]HNQDPOLQ
0RJOLPQLHZ]L]HVRESRZLHG]LDDP3U]HGPRLPLQDURG]LQDPL
HE\ Z\GD FL QD ZLDW Z URNX L Z\FKRZ\ZD SRG IDV]\Z\P
QD]ZLVNLHP"7XSU]HGSLHUZV]ZRMQZLDWRZ"3RNUFLJRZ$NWRE\
FLZ]LJG\E\FRLPVLVWDR".WRE\VLWRE]DM"3RJDVNDPQLHSR
ZRVDFK1LHSRWUDILVRELHQDZHWZ\REUD]LMDNEDUG]RPXVLEROHNLHG\
F]RZLHN GRZLDGXMH VL R F]\P WDNLP *ZHQ $OH SRWUDIL ]UR]XPLH /XF\ L
3DXOD
:LG]LHOLZWZRMHMPDPLHNRJRNWREG]LHFLNRFKDMDNZDVQHG]LHFNRL
NWRFLEH]SLHF]QLHZ\FKRZD
=DJU\]DPGROQZDUJ
1LH ZLHP 8VLDGDP Z\F]HUSDQD -D MX Z RJyOH QLF QLH ZLHP
&KFLDDE\P HE\ PRQD E\R FRIQ F]DV .LOND W\JRGQL WHPX QLH E\DP
PRH QDMV]F]OLZV] G]LHZF]\Q QD ZLHFLH DOH E\DP Z PLDU QRUPDOQD
1LH SRGUyQLF]ND Z F]DVLH 1LH QLHPLHUWHOQD $ MX QD SHZQR QLH G]LHFNR
GZRMJD GZRMJD QDVWRODWNyZ NWyU]\ \M Z URNX *LGHRQ XPLHFKQ
VLGRPQLH
6SyMU]QDWR]LQQHMVWURQ\MHVWWDNHNLOND]DOHW2VWURQLHSU]HMHFKD
PL NFLXNLHP SRG RF]DPL SHZQLH SR WR HE\ ]HWU]H ODG\ WXV]X GR U]V
0RLP]GDQLHPMHVWHEDUG]RRGZDQD,NRFKDPFL
-HJRVRZDXPLHU]\\WS\EyOZPRMHMSLHUVL2EMDPJR]DV]\M
&]\ PyJE\ WR SRZLHG]LH MHV]F]H UD]" $ SRWHP PQLH SRFDRZD" 7DN
HE\P]DSRPQLDDRFD\PZLHFLH"
*LGHRQSU]HQRVLZ]URN]PRLFKRF]XQDZDUJLL]SRZURWHP
0RJVSUyERZDPUXNQ
:\VLNL *LGHRQD ]DNRF]\\ VL VXNFHVHP -HOL PRQD WR WDN XM :
NDG\P UD]LH QLH PLDDE\P QLF SU]HFLZNR WHPX HE\VSG]L UHV]W GQLD D
QDMOHSLHMUHV]W\FLDZMHJRUDPLRQDFKQDWHM]LHORQHMVRILHZURNX
1DJOHMHGQDNRGVXQVLWURFKZVSDUQDRNFLXLVSRMU]DQDPQLH
0\OHSRZLQQLP\WHUD]SU]HVWDZSU]HFLZQ\PUD]LH]DQLFQLHPRJ
UF]\SRZLHG]LDQLHFR]G\V]DQ\
-DQLFQLHSRZLHG]LDDP'ODF]HJRPLDE\VLF]XLQDF]HMQLMD"7\ONRH
MDQLHXPLDDPWDNSRSURVWXSU]HVWD=DVWDQDZLDDPVLF]\QLHSRZLQQDP
E\ ] WHJR SRZRGX QLHFR XUDRQD $OH QLH PRJDP R W\P UR]P\OD ]E\W
GXJRER*LGHRQU]XFLRNLHPQD]HJDUHNLQDJOHSRGVNRF]\MDNRSDU]RQ\
2FK*ZHQ]DZRD7RMX]DUD]3RZLQQDFR]UREL]ZRVDPLRQLVL
WDP SHZQLH ZV]\VF\ ]HEUDOL ZRNy FKURQRJUDIX L EG VL QD QDV JDSL MDN
ZUyFLP\
2 %RH ZHVWFKQDP ]H VPXWNLHP $OH PXVLP\ QDMSLHUZ XVWDOL FR
GDOHM
*LGHRQ]PDUV]F]\F]RR
2F]\ZLFLH EG PXVLHOL SU]HVXQ RSHUDFM DOH PRH ]GRDP LFK
SU]HNRQD HE\ Z\VDOL PQLH GR URNX FKRFLD QD WH GZLH SR]RVWDH
JRG]LQ\1DSUDZGPXVLP\MDNQDMV]\EFLHMSRUR]PDZLD]/XF\L3DXOHP
0RJOLE\P\RGZLHG]LLFKUD]HPG]LZLHF]RUHPSRZLHG]LDDPFKRWD
ZL]MDSU]\SUDZLDPQLHRPGRFL
0LRZDVSR]QDPDPRLWDWR
=DSRPQLM*ZHQ-XQLJG\QLHSR]ZROFLSU]HVNRF]\UD]HP]HPQGR
URNX FK\ED H KUDELD Z\UDQLH WHJR ]DGD *LGHRQ Z\FLJQ GR
PQLH UFH SRPyJ PL ZVWD L GR QLH]UF]QLH SUyERZD Z\JDG]L ZRV\
NWyUHVDPPL]PLHU]ZL
2FK MDN GREU]H H SU]\SDGNRZR PDP Z GRPX FKURQRJUDI U]XFLDP
WDNRERMWQLHMDNW\ONRXPLDDP.WyU\QDZLDVHPPyZLFZLHWQLHG]LDD
*LGHRQZOHSLZHPQLHZ]URN
&R"
1RGDMVSRNyM3U]HFLHZLHG]LDH-DNLQDF]HMPRJDE\PVLVSRW\ND]
/XFDVHP" 3RR\DP GR QD RGNX NWyU\ ZDQLH ]DF]\QD PL VL
Z\ZUDFDQDGUXJVWURQ
3U]HGGU]ZLDPLF]HNDDGHSWNWyU\]DSURZDG]LZDVQDJyUNLHG\EG]LHFLH
FKFLD\,G]LHV]
*LGHRQLH"
*LGHRQ]ZDKDQLHPSXFLPRMGRLSRFDRZDPQLHZSROLF]HN
'DV]UDG*ZHQV]HSQPLGRXFKD$SRWHPSRJDGDP\RW\PFR
XNU\DZGRPX
0XVLDDP]HEUDZV]\VWNLHVL\E\QLHZF]HSLVLZQLHJR LQLH]DZRD
=RVWD]HPQSURV]
: PLOF]HQLX SRF]HNDDP D RQ L )DON Z\MG ] SRNRMX L ]DPNQ ]D VRE
GU]ZL3RWHPRGZUyFLDPVLGRPDP\LVSUyERZDDPVLXPLHFKQ
$OHHZSXFLOLFLGRVZHMQDMZLNV]HMZLW\QLWRVLG]LZL
0DPD ZVWDD FKZLHMQLH QLF]\P VWDUXV]ND L RGSRZLHG]LDD PL VDE\P
XPLHFKHP
=DZL]DOL PL RF]\ 7R ]QDF]\ WHQ ] WZDU] MDN NVL\F 0LD UR]FLW
ZDUJ L FK\ED GODWHJR WDN PRFQR ]DFLVQ Z]H 6WUDV]QLH PQLH SLHNR DOH
QLHPLDDPRGZDJLVLSRVNDU\
6NG MD WR ]QDP %\R PL W\ONR XPLDUNRZDQLH SU]\NUR ] SRZRGX
UR]FLWHMZDUJLSDQD0DUOH\D
0DPR
0DPDQLHSR]ZROLDPLGRNRF]\
:LHPHPQLHWHUD]QLHQDZLG]LV],FDNRZLFLHFLUR]XPLHP
0DPRMD
7DNVWUDV]QLHPLSU]\NUR1LHSRZLQQDPE\DGRSXFLE\WR]DV]RWDN
GDOHNR =URELD NURN Z PRM VWURQ L Z\FLJQD GR PQLH UFH E\ MH
QDW\FKPLDVW EH]UDGQLH RSXFL =DZV]H WDN EDUG]R VL EDDP WHJR GQLD
:LHG]LDDP SU]HFLH H NLHG\ QDVWSL L LP E\D VWDUV]D W\P EDUG]LHM VL
WHJR EDDP 7ZyM G]LDGHN ]DZDKDD VL D SRWHP Z]LD JERNL RGGHFK
0yM RMFLHF L MD PLHOLP\ ]DPLDU SRZLHG]LH FL WR UD]HP NLHG\ EG]LHV]
Z\VWDUF]DMFRGXDE\]UR]XPLHL]QLHSUDZG
$ZLF/XFDVRW\PZLHG]LD"
2F]\ZLFLH 8NU\ /XF\ L 3DXOD Z 'XUKDP L WR E\ MHJR SRP\V HE\P
XGDZDD SU]HG ZV]\VWNLPL FL E\ PyF ]JRVL G]LHFNR F]\OL FLHELH MDNR
VZRMH/XF\SRGPRLPQD]ZLVNLHPFKRG]LDZ'XUKDPQDEDGDQLD2QDL
3DXO PLHV]NDOL X QDV SUDZLH SU]H] F]WHU\ PLHVLFH D WDWR Z U\P F]DVLH
WZRU]\ZSRRZLH(XURS\IDV]\ZHODG\7RE\DZJUXQFLHU]HF]\GRVNRQDD
NU\MyZND 0RM FL QLNW VL QLH LQWHUHVRZD 7HUPLQ SRURGX PLD E\ Z
JUXGQLXLZ]ZL]NX]W\PGOD6WUDQLNyZLURG]LQ\E\D]XSHQLHQLHZDQD
0DPDRPLQDPQLHZ]URNLHPLVSRMU]DDQDG\ZDQDRF]\MHMVL]DV]NOL\
'R VDPHJR NRFD PLHOLP\ QDG]LHM H Z\VDQLH /XF\ L 3DXOD ]
FKURQRJUDIHP Z SU]HV]R QLH EG]LH NRQLHF]QH $OH MHGHQ ] SU\ZDWQ\FK
GHWHNW\ZyZ
6WUDQLNyZ ]ZUyFL XZDJ QD QDV]H PLHV]NDQLH =DGUDD QD VDPR
ZVSRPQLHQLH0yMRMFLHF]G\QDVMHV]F]HZSRURVWU]HF/XF\L3DXOQLH
PLHOL Z\ERUX PXVLHOL XFLHND D W\ ]RVWDD X QDV 0DOHNLH G]LHFNR ]H
PLHV]Q\P PD\P NRVP\NLHP ZRVyZ QD JRZLH L RJURPQ\PL QLHELHVNLPL
RF]DPL7HUD]]\SRS\Q\MHMSRWZDU]\3U]\VLJOLP\HEG]LHP\FL
VWU]HF
1LFRODVLMDLRGSLHUZV]HMVHNXQG\NRFKDOLP\FLMDNZDVQFyUN
1DZHW WHJR QLH ]DXZDDMF ]QRZX ]DF]DP SDND 0DPR :LHV]
QLJG\ QLH FKFLHOLP\ PLH G]LHFL : URG]LQLH 1LFRODVD E\R W\OH FKRUyE D MD
]DZV]HP\ODDPHQLHQDGDMVLQDPDWN$OHWRVL]PLHQLRJG\/XF\L
3DXO SRZLHU]\OL QDP FLHELH ]\ S\Q\ MHM QLHSU]HUZDQLH 7\ W\
XF]\QLDQDVWDNLPLV]F]OLZ\PL:\ZUyFLDQDV]H\FLHGRJyU\QRJDPLL
SRND]DD MDN FXGRZQH V G]LHFL *G\E\ FLHELH QLH E\R 1LFN L &DUROLQH ]
SHZQRFLQLJG\QLHSU]\V]OLE\QDZLDW6]ORFKQLHSR]ZROLPDPLHPyZL
GDOHM
1LHPRJDPGXHMZ\WU]\PDLU]XFLDPVLMHMQDV]\M
:V]\VWNRGREU]HPDPRSUyERZDDPSRZLHG]LHDOHZ\GDDP]VLHELH
W\ONRZLV]F]F\V]PHU
-HGQDN PDPD QDMZLGRF]QLHM WR ]UR]XPLDD 2EMD PQLH EDUG]R PRFQR L
SU]H]SDUFKZLOQLHE\\P\ZVWDQLHDQLPyZLDQLSU]HVWDSDND
7UZDRWRGRPRPHQWXNLHG\;HPHULXVZHWNQJRZSU]H]FLDQ
2WXWDMMHVWH3U]HFLVQVLFD\GRSRNRMXLVIUXQQDVWy]NWyUHJR
SU]\JOGD VL QDP FLHNDZLH 2 UDQ\ 7HUD] PDP\ MX GZLH SRNRMRZH
IRQWDQQ\8ELHJRURF]Q\PRGHO1LDJDUD)DOOVQDMZ\UDQLHME\ZSURPRFML
'HOLNDWQLHRGVXQDPVLRGPDP\
0XVLP\LPDPR0DV]PRHFKXVWHF]NLGRQRVD"
&K\ED WDN 3RV]SHUDD Z WRUHEFH L SRGDD PL FKXVWHF]N 'ODF]HJR
QLH PDV] WXV]X GR U]V UR]PD]DQHJR QD FDHM WZDU]\" ]DS\WDD ] OHNNLP
XPLHFKHP
*RQRZ\WDUDPQRV
2EDZLDPVLH]RVWDQDNRV]XOFH*LGHRQD
:\GDMH VL QDSUDZG PL\P FKRSFHP &KRFLD PXV] FL SU]HG QLP
RVWU]HF &L GH <LOOLHUVRZLH ]DZV]H W\ONR ZSG]DM G]LHZF]\Q\ ] URG]LQ\
0RQWURVH Z NRSRW\ 2WZRU]\D SXGHUQLF]N VSRMU]DD Z OXVWHUNR L
ZHVWFKQD2UDQ\Z\JOGDPMDNPDWND)UDQNHQVWHLQD
1RWXSRPRHMXFK\EDW\ONRFLHUNDSRZLHG]LD;HPHULXV=HVNRF]\
]HVWRXQDVNU]\QLZNFLHLSU]HNU]\ZLJRZ&K\EDPQLHFRRPLQR
1DZLDVHPPyZLFWDPQDJyU]HSDQXMHZLHONL]DPW:V]G]LHZDQLOXG]LH
ZF]DUQ\FKJDUQLWXUDFKL0DUOH\WHQVWDU\RVLRMDNE\PXNWRSU]\UQZ
S\VN , ZLHV] *ZHQGRO\Q ZV]\VF\ F]HSLDM VL WZRMHJR PLHJR FKRSFD
QDMZ\UDQLHM Z\ZUyFL LFK SODQ\ GR JyU\ QRJDPL 3R]D W\P GRSURZDG]D
NDGHJR GR ELDHM JRUF]NL ER SU]H] FD\ F]DV LGLRW\F]QLH VL GR VLHELH
XPLHFKD
,FKR]DSHZQHQLHE\RNXWHPXDGQHJRSRZRGXQDJOHPXVLDDP]UREL
WRVDPRLGLRW\F]QLHVLGRVLHELHXPLHFKQ0DPD]HUNQDQDPQLH]QDG
SXGHUQLF]NL
:\EDF]\V]PL"VS\WDDFLFKR
2FK PDPR 2EMDP M WDN PRFQR H Z\SXFLD ZV]\VWNR ] UN
3U]HFLHWDNEDUG]RFLNRFKDP
-DFLZHVWFKQ;HPHULXV,WDNZNRR0DFLHMX7XQDSUDZGMHVW
]DGXRZLOJRFL
7DN VRELH Z\REUDDP QLHER SRZLHG]LDD /HVOLH L RNUFLD VL ZRNy
ZDVQHM RVL DE\ OHSLHM SRF]X DWPRVIHU UHNZL]\WRUQL -HM VSRMU]HQLH
ZGURZDR SR SyNDFK ] EXWDPL L WU]HZLNDPL ] ZV]\VWNLFK HSRN GDOHM GR
NDSHOXV]\ VWDPWG GR FLJQF\FK VL QLHPDO EH] NRFD ZLHV]DNyZ L ]
SRZURWHP QD PDGDPH 5RVVLQL NWyUD RWZRU]\D QDP GU]ZL GR WHJR UDMX $
SDQLMHVWGREU\P3DQHP%RJLHP
$OHW\MHVWHDGQD0DGDPH5RVVLQLXPLHFKQDVL
7DNWHWDNXZDDPZWUFL5DSKDHO
*LGHRQ U]XFL PX UR]EDZLRQH VSRMU]HQLH 1LH ZLHG]LDDP MDN SR WHM FDHM
SRSRXGQLRZHM DZDQWXU]H ]GRD Z\GEL RG )DOND ]H]ZROHQLH PRH ZXM
*LGHRQDE\UDF]HMRZFZZLOF]HMVNyU]HQLRGZURWQLH"DOHRWU]\PDOLP\
UD]HP ] /HVOLH L 5DSKDHOHP RILFMDOQ ]JRG QD Z\V]XNDQLH VRELH ]
UHNZL]\WRUQL 6WUDQLNyZ SRG QDG]RUHP PDGDPH 5RVVLQL NRVWLXPyZ QD
LPSUH]X&\QWKLL
:F]HVQ\P ZLHF]RUHP VSRWNDOLP\ VL SU]HG ZHMFLHP D /HVOLH E\D WDN
SU]HMWDW\PHPRHZHMGRNZDWHU\JyZQHMHQLHPRJDXVWDVSRNRMQLH
Z PLHMVFX &KR QLH ]REDF]\D SRPLHV]F]H NWyUH MHM RSLV\ZDDP L ]RVWDD
]DSURZDG]RQD W\ONR SU]H] PDR ZLGRZLVNRZ\ NRU\WDU] GR UHNZL]\WRUQL E\D
ZVLyGP\PQLHELH
:LG]LV] WR" V]HSQD GR PQLH &]X WX ]DJDGNL L WDMHPQLFH 2 %RH
MDNMDWRNRFKDP
: UHNZL]\WRUQL ]GDZDR VL H GRVWDQLH DSRSOHNVML : LQQ\FK
RNROLF]QRFLDFK ] FD SHZQRFL F]XDE\P VL WDN VDPR 'R WHM SRU\
XZDDDPVDPSUDFRZQLPDGDPH5RVVLQL]DRJURG\(GHQXDOHWRFRE\R
WXWDMSU]HFKRG]LRZV]HONLHZ\REUDHQLH
$OH SR SLHUZV]H MHOL FKRG]L R VWURMH WURFK PL VL MX RSDWU]\\ D SR
GUXJLHPRMDJRZDLPRMHVHUFHE\\]DMWH]XSHQLHF]\PLQQ\P
2F]\ZLFLH WR QLH MD V]\DP WH ZV]\VWNLH VWURMH WR NROHNFMD 6WUDQLNyZ
]DRRQDMX GZLHFLH ODW WHPX L QLHXVWDQQLH SRV]HU]DQD 0DGDPH 5RVVLQL
]GMD ] ZLHV]DND OHNNR SRyN NRURQNRZ VXNQL D MD L /HVOLH
ZHVWFKQ\P\ ] ]DFKZ\WX :LHOH VSRUyG KLVWRU\F]Q\FK RU\JLQDyZ
Z\JOGDZSUDZG]LHFXGRZQLHDOHQLHQDGDMVLQDREHFQHSRGUyHZF]DVLH
2VWURQLHRGZLHVLDVXNQL
7DNH NRVWLXP\ NWyUH XV]\WR GOD SU]HGRVWDWQLHJR SRNROHQLD MX QLH
RGSRZLDGDMVWDQGDUGRP
7R ]QDF]\ H WH SLNQH VWURMH WDN VRELH WX SRZROL EXWZLHM" =GMWD
ZVSyF]XFLHP/HVOLHSRJDVNDDNRURQNRZVXNQL
0DGDPH5RVVLQLZ]UXV]\DUDPLRQDPL
7RFHQQ\PDWHULDSRJOGRZ\WDNHGODPQLH$OHPDV]UDFMV]NRGDH
X\ZD VL LFK WDN U]DGNR 7\P OHSLHM H MHVWHFLH WX G]L ZLHF]yU 1D W\P
EDOXEG]LHFLHQDMSLNQLHMVLPHVSHWLWHVO
7RQLHEDOPDGDPH5RVVLQLWRW\ONRGRQXGQDLPSUH]D
,PSUH]D MHVW ]DZV]H W\ONR WDN QXGQD MDN QXGQL V JRFLH RGU]HND
PDGDPH5RVVLQL
=JDG]D VL WR UyZQLH PRMH PRWWR SRZLHG]LD 5DSKDHO L VSRMU]D QD
/HVOLH $ MDNE\P\ SRV]OL MDNR 5RELQ +RRG L ODG\ 0DULDQ" 2QL V SU]HFLH
FDOL ]LHORQL :R\ VRELH QD JRZ GDPVNL NDSHOXV] ] SRZLHZDMF\P
SLyUNLHPLZWHG\NDG\RGUD]XVL]RULHQWXMHHMHVWHP\UD]HP
+PPUXNQD/HVOLH
0DGDPH5RVVLQLREFKRG]LDZLHV]DNLSRGSLHZXMFZHVRR
2FK MDNLH WR SU]\MHPQH -DNLH WR PLH &]ZRUR PRG\FK OXG]L L XQHIHWH
GHJXLVHH
&]\LPRHE\FRSLNQLHMV]HJR"
1RMDE\PFR]QDOD]V]HSQ*LGHRQ]XVWDPLWXSU]\PRLPXFKX
3RVXFKDMPXVLFLHWURFKRGZUyFLMHMXZDJHE\PPyJXNUDFLXFK\QD
QDV]Z\FLHF]NGRURNX0DGDPH5RVVLQL
RGH]ZDVLJRQR-DZRWR]LHORQH]ZF]RUDMMHOLPRJ
0DGDPH5RVVLQLRGZUyFLDVLGRQDVHQHUJLF]QLH7R]LHORQH]ZF]RUDM"
3RGQLRVDEUHZ
2Q QR RQ PD QD P\OL VXUGXW Z NRORU]H PRUVNLHM ]LHOHQL ]H
V]PDUDJGRZNODPUZ\MDQLDPV]\ENR
1R L ZV]\VWNLH WH EDMHU\ GR WHJR *LGHRQ XPLHFKQ VL XSU]HMPLH
&K\EDEDUG]LHM]LHORQRMXVLQLHGD
%DMHU\ 3HU\ SU]HG ZLHSU]H 0DGDPH 5RVVLQL Z\U]XFLD UFH GR JyU\
DOH XPLHFKDD VL SU]\ W\P $ ZLF GOD PDHJR EXQWRZQLND NRQLHF
RVLHPQDVWHJRZLHNX1RWRPXVLP\WHUD]RGSRZLHGQLRGRWHJRXEUDDEG]L
V]\MN$OHREDZLDPVLHQLHPDP]LHORQHMVXNQLEDORZHM]WHMHSRNL
(SRNDMHVWRERMWQDPDGDPH5RVVLQL7HQLHXNLQDLPSUH]LHLWDNVLQD
W\PQLH]QDM
1DMZDQLHMV]H HE\ Z\JOGDD QD VWDU E\D GXJD L EXILDVWD GRGDD
/HVOLH
([FXVHPRL PD FKHULH
$OH WR QLH MHVW ]LHORQH ]DXZD\D PDGDPH
5RVVLQL
$OHMHVWSUDZLH]LHORQH/HVOLHZ\JOGDDQDWDNUR]F]DURZDQMDNE\]D
FKZLOPLDDZ\EXFKQSDF]HP
1LHWRMHVWORGRZRQLHELHVNLSRZLHG]LDDVWDQRZF]RPDGDPH5RVVLQL
*UDFH .HOO\ PLDD M QD VRELH JG\ RWU]\P\ZDD EU\W\MVN QDJURG ]D
']LHZF]\Q]SURZLQFML7R]QDF]\RF]\ZLFLHQLHWVXNQLDOHWRGRNDGQD
NRSLD
7RQDMSLNQLHMV]DVXNQLDMDNNLHG\NROZLHNZLG]LDDPV]HSQD/HVOLH
0DWURFK]LHOHQLVSUyERZDDPMZHVSU]H$SU]\QDMPQLHMWXUNXVX
] QXW ]LHOHQL 7R ]QDF]\ MHVW SUDNW\F]QLH ]LHORQD V]F]HJyOQLH Z yWDZ\P
ZLHWOH
+PPUXNQDPDGDPH5RVVLQL
5R]HMU]DDPVL]D*LGHRQHPNWyU\XNUDGNLHP]PLHU]DZVWURQGU]ZL
,WDNQLHEG]LHQDPQLHSDVRZDDPUXNQD/HVOLH
0\O H EG]LH 6SRMU]HQLH PDGDPH 5RVVLQL SU]HOL]QR VL SR
V\OZHWFH /HVOLH Z GyO SRWHP ]QRZX Z JyU D SRWHP ]DP\ORQH VNLHURZDR
VLZ GDO :\ PRGH G]LHZF]\Q\ PDFLH WDNLH FXGRZQH WDOLH =XW DORUV
O
1DJOH VL QDVUR\D 0RG\ F]RZLHNX" $ W\ GRNG ] PRLPL U]HF]DPL"
]DZRDD
-D HHH ] SU]HVWUDFKHP Z\MND *LGHRQ NWyU\ E\ MX SUDZLH SU]\
GU]ZLDFK
yZ SU]HLVWRF]\ VL ZH ZFLHNHJR VRQLD NWyU\ UXV]\ SU]HG VLHELH
=QDF]QLHV]\EFLHMQLE\PMRWRSRGHMU]HZDDPDGDPH5RVVLQL]QDOD]DVL
RERN*LGHRQD
&yWRPD]QDF]\":\UZDDPXXEUDQLD]UNL&]\E\FKFLDPQLH
RNUD"
1LH RF]\ZLFLH H QLH PDGDPH 5RVVLQL -D W\ONR FKFLDHP WR HHH
SR\F]\ *LGHRQ SU]\EUD QLH]Z\NOH VNUXV]RQ\ Z\UD] WZDU]\ DOH QD
PDGDPH5RVVLQLQDMZ\UDQLHMWRQLHSRG]LDDR
7U]\PDDXEUDQLDSU]HGVREZJyU]HLSU]\JOGDDVLLP
$ FR ] W\P ]DPLHU]DV] ]UREL QLHPROLZ\ FKRSDNX" 7R QDZHW QLH MHVW
]LHORQH
3RVSLHV]\DP*LGHRQRZLQDSRPRF
3URV]QLHFKVLSDQLQDQDVQLHJQLHZD3RWU]HEXMHP\W\FKU]HF]\QD
QDZ\SUDZGRURNX=URELDPNUyWNSDX]DSRWHP]GHF\GRZDDP
VLSRVWDZLZV]\VWNRQDMHGQNDUW1DWDMQZ\SUDZPDGDPH5RVVLQL
7DMQ" 'R URNX" SRZWyU]\D PDGDPH 5RVVLQL 3U]\FLVQD GR
VLHELH XEUDQLD MDN &DUROLQH VZRM V]\GHNRZ ZLQN : W\FK U]HF]DFK"
&]\WRPDE\DUW"-HV]F]HQLJG\QLHZLG]LDDPMHMWDNZFLHNHM7RMHVW
PVNLJDUQLWXU]URNXSRZLHG]LDD]REXU]HQLHPDSLFRGGHFKSU]\
NDG\PVRZLH$WDVXNLHQNDQDOHDDGRG]LHZF]\Q\VSU]HGDMFHMF\JDUD
*G\E\FLH WDN Z\V]OL QD XOLF Z URNX RG UD]X ]URELRE\ VL ZLHONLH
]ELHJRZLVNR 3RGSDUD VL UNDPL SRG ERNL 1LF]HJR VL RGH PQLH QLH
QDXF]\H PRG\ F]RZLHNX" &R MD FLJOH SRZWDU]DP" 2 FR FKRG]L Z W\FK
NRVWLXPDFK"2
DXWHQW\F]QRX]XSHQL*LGHRQSyJRVHP
3UHFLVHPHQW
? 0DGDPH 5RVVLQL VL XPLHFKQD -HOL MX FKFHFLH
RGE\WDMQZ\SUDZGRURNX
WR QD SHZQR QLH Z W\FK FLXFKDFK 5yZQLH GREU]H PRJOLE\FLH
Z\OGRZD VWDWNLHP NRVPLF]Q\P SRURGNX PLDVWD E\RE\ WDN VDPR
G\VNUHWQLH -HM RF]\ E\VND\ MHV]F]H JQLHZQLH JG\ SDWU]\D QD PQLH L QD
*LGHRQD DOH W\P UD]HP UXV]\D ] PLHMVFD L RGSURZDG]DQD QDV]\PL
]GXPLRQ\PLVSRMU]HQLDPLSRS\QDPLG]\ZLHV]DNL&KZLOSyQLHMZUyFLD
]QDUF]HPXELRUyZLG]LZDF]Q\FKQDNU\JRZ\%LHQSRZLHG]LDDWRQHP
QLH]QRV]F\P VSU]HFLZX 7R SRZLQQD E\ GOD ZDV OHNFMD HE\ QLH
RV]XNLZD PDGDPH 5RVVLQL 3RGHWNQD QDP XEUDQLD SRG QRV 1DJOH MHM
XVWD UR]FLJQ\ VL Z XPLHFKX L ]URELR VL WDN MDNE\ VRFH SU]HQLNQR
SU]H]FLHPQHGHV]F]RZHFKPXU\$OHMHOLGRUZWHJRPDHJRVSLVNRZFDH
QLHQRVLNDSHOXV]D3RJUR]LD
*LGHRQRZL SDOFHP :WHG\ PDGDPH 5RVVLQL EG]LH PXVLDD RSRZLHG]LH
SDVNLHPX ZXMRZL R WHM PDHM Z\FLHF]FH 5R]HPLDDP VL ] XOJ L
XFLVNDDPMVHUGHF]QLH
$FKSDQLMHVWQDMOHSV]DQDZLHFLHPDGDPH5RVVLQL
&DUROLQHZHVWFKQD]F]XRFL
-HVWHWDNLPL\%G]LHV]WHUD]F]FLHMSU]\FKRG]L"
2EDZLDPVLHWDNU]XFL;HPHULXV
0DP QDG]LHM H WDN SRZLHG]LD *LGHRQ L QDV]H VSRMU]HQLD QD FKZLO
VLVSRWND\
1LH PRJDP SRZVWU]\PD ZHVWFKQLHQLD 3R QDV]HM RZRFQHM ZL]\FLH Z
UHNZL]\WRUQL 6WUDQLNyZ ]URELOLP\ MHV]F]H PD Z\FLHF]N GR JDELQHWX
GRNWRUD:KLWH
DLSRGF]DVJG\*LGHRQ]DRSDWU\ZDVLZUR]PDLWHDNFHVRULD
PQLHQDJHSU]\V]RFRGRJRZ\
6NRUR MX WX MHVWHP\ PRH PyJE\ Z]L WH V]F]HSLRQN SU]HFLZ
RVSLH
1LH PDUWZ VL -HVWH ]DV]F]HSLRQD SU]HFLZ ZV]\VWNLP FKRURERP QD
MDNLH PRHV] VL QDWNQ Z WUDNFLH SRGUy\ Z F]DVLH RGU]HN *LGHRQ
3U]HFLZRVSLHRF]\ZLFLHWH
7R QLH GOD PQLH W\ONR GODMHGQHJR SU]\MDFLHOD SRZLHG]LDDP 3URV]
3yQLHMFLWRZ\MDQL
*LGHRQ XQLyV ZSUDZG]LH EUHZ DOH EH] NRPHQWDU]D RWZRU]\ V]DIN ]
OHNDPL GRNWRUD :KLWH
D L SR NUyWNLFK SRV]XNLZDQLDFK VFKRZD GR NLHV]HQL
SXGHNR
=DWRHQLH]DGDZDDGQ\FKS\WDNRFKDDPJRMHV]F]HEDUG]LHM
:\JOGDV]MDNE\]DUD]PLDDFLSROHFLHOLQD]XVWSU]\ZRDPQLHGR
U]HF]\ZLVWRFL;HPHULXV
=SXV]NL]FXNUHPVWRMFHMZV]DILHZ\RZLDPNOXF]
-DNGXJRPDPDMHVWMXZD]LHQFH"VS\WDDP1LFNDL&DUROLQH
1DMZ\HM NZDGUDQV 1LFN Z\JOGD WHUD] QD ]QDF]QLH EDUG]LHM
UR]OXQLRQHJR %\D MDND G]LZQD G]L ZLHF]RUHP 3U]H] FD\ F]DV QDV
REFDRZ\ZDD L Z]G\FKDD 'RSLHUR MDN SDQ %HUQKDUG SU]\QLyV MHM ZKLVN\
GDDVRELH]W\PVSRNyM
.ZDGUDQV" 7R SRZLQQLP\ PLH GR F]DVX -HOL SRMDZL VL WX
ZF]HQLHM QL VL VSRG]LHZDP\ QLH PyZFLH MHM SURV] H MHVWHP\ QD
GDFKX
2NHM SRZLHG]LD 1LFN D ;HPHULXV ]DLQWRQRZD VZRM JXSL SLRVHQN
3RGGDV]NLHPVWDOLLVLFDRZDOL
5]XFLDP*LGHRQRZLNSLFHVSRMU]HQLH
-HOLGDV]UDGRGHUZDVLRG']ZRQHF]NDPRJOLE\P\]DUD]]DF]
1DV]F]FLHZLHPMDNWRVLVNRF]\*LGHRQFKZ\FLSOHFDNLZVWD]
PLHMVFD
1DUD]LHV]HSQD]DQLP&DUROLQH
1DUD]LH=DPLDVWSDWU]HMDNVLFDXMHFLHOHSLHMSRSDWU]VRELHMHV]F]H
QDZUyNLSU]\SUDF\SRZLHG]LD;HPHULXV0DVLFRWDNLHJRMDNGXPD
GHPRQDLQLHFKFLDE\PHE\PQLHSRVG]DQRRWRHMHVWHPSRGJOGDF]HP
1LH ]ZUDFDMF QD QLHJR XZDJL ZVSLDP VL SR ZVNLFK VFKRGDFK
NRPLQRZ\FKLRWZRU]\DPZD]
%\DGRU]HNDZLRVHQQDQRFGRVNRQD\ZLHF]yUQDZL]\WWXQDJyU]HL
SHZQLH UyZQLH QD SRFDXQNL 5R]WDF]D VL VWG FXGRZQ\ ZLGRN SRQDG
VVLHGQLPLGRPDPLDQDZVFKRG]LHQDGGDFKDPLOQLNVL\F
*G]LHVLSRG]LHZDV]"]DZRDDPFLFKRZGy
=ZD]XZ\FK\QDNG]LHU]DZDJRZD*LGHRQDD]DQLFDDMHJRUHV]WD
0RJ WHUD] ]UR]XPLH H WR WZRMH XOXELRQH PLHMVFH =GM SOHFDN L
XNONRERNPQLH
'R WHM SRU\ QLH ]DXZD\DP H WR PLHMVFH V]F]HJyOQLH Z QRF\ QDSUDZG
E\R URPDQW\F]QH ] W\P PRU]HP PLJRF]F\FK ZLDWH NWyUH ]GDZDR VL
UR]FLJD Z QLHVNRF]RQR ]D SHQ ]DZLMDVyZ GHNRUDFM NDOHQLF\
1DVWSQ\PUD]HPPRHXU]G]LP\VRELHWXSLNQLN]PLNNLPLSRGXV]NDPLL
ZLHFDPL *LGHRQ PyJE\ SU]\QLH VNU]\SFH L PLHMP\ QDG]LHM ;HPH
ULXVEG]LHPLDZWHG\ZROQH
&]HPXVLWDNXPLHFKDV]"VS\WD*LGHRQ
2FKQLFWDNLHJRQDV]\PQLHWDNLHJXSLHP\OL
*LGHRQNRPLF]QLHZ\NU]\ZLWZDU]
$FK WDN" 8ZDQLH UR]HMU]D VL ZRNy 2NHM 3RZLHG]LDE\P H
SU]HGVWDZLHQLHPRHVL]DF]
6NLQDPJRZLRVWURQLHSRRPDFNXSU]HGRVWDDPVLGRNRPLQyZ:
W\P PLHMVFX GDFK E\ SDVNL DOH ]DOHGZLH Sy PHWUD ]D NRPLQDPL ]DF]\QD
VL VSDGHN RGG]LHORQ\ W\ONR PHWDORZ NUDWN VLJDMF GR NRODQ ,
QLHPLHUWHOQD F]\ QLH X]QDDP ORW Z Gy ] F]ZDUWHJR SLWUD ]D QLH]E\W
SRGDQZHHNHQGRZ]DEDZ
2WZRU]\DPNODSNZHQW\ODF\MQZSLHUZV]\P]V]HURNLFKNRPLQyZ
'ODF]HJRDNXUDWWXWDM*ZHQQ\"XV\V]DDP]DVRES\WDQLH*LGHRQD
&KDUORWWD PD ON Z\VRNRFL Z\MDQLDP 1LJG\ QLH RGZD\DE\ VL
ZHMQDGDFK:\MDPFLNLH]DZLQLWNR]NRPLQDLRVWURQLH]ZD\DP
MHZUNDFK
*LGHRQ]HUZDVLQDUyZQHQRJL
7\ONRJRQLHXSXSRZLHG]LDQHUZRZR3URV]
1LH EyM VL 0XVLDDP VL UR]HPLD WDNL E\ SU]HUDRQ\ =REDF]
SRWUDILQDZHWQDMHGQHMQRG]H
*LGHRQZ\GD]VLHELHFRMDNE\NUyWNLSLVN
7R QLH MHVW WHPDW GR DUWyZ *ZHQQ\ VDSQ 1DMZ\UDQLHM WH QDXNL
PLVWHULyZ PLD\ QD QLHJR MHGQDN ZLNV]\ ZS\Z QL P\ODDP :\M PL
]DZLQLWNR]UNLLSU]\WXOLMDNE\WRE\RG]LHFNR
&]\WRMHVWQDSUDZG"]DF]
=W\XSRF]XDPSRZLHZ]LPQHJRSRZLHWU]D
1LHHH W\ JXSNX ]DVNU]HF]D ;HPHULXV Z\W\NDMF JRZ SU]H] ZD]
7RVWDU\VHUD
*ZHQGRO\QSU]HFKRZXMHJRWXQDJyU]HQDZ\SDGHNJG\E\ZQRF\]URELD
VLJRGQD
3U]HZUyFLDP RF]DPL L SRND]DDP PX H PD VS\ZD FR NX PRMHPX
]DVNRF]HQLXXF]\QL
=DSHZQH']ZRQHF]HNE\ZW\PPRPHQFLHEDUG]LHMLQWHUHVXMF\
7\PF]DVHP *LGHRQ SRVWDZL FKURQRJUDI QD GDFKX L ]DF] RVWURQLH
UR]ZLMDPDWHULD
&]\ ZLHV] H &KDUORWWD G]ZRQLD GR QDV FR G]LHVL PLQXW HE\ QDV
SU]HNRQD H PDV] WHQ FKURQRJUDI" 1D NRQLHF QDZHW 0DUOH\ E\ QD QL
ZNXU]RQ\
-DND V]NRGD SRZLHG]LDDP &L GZRMH V SU]HFLH ZSURVW GOD VLHELH
VWZRU]HQL
*LGHRQ VNLQ JRZ 3RWHP ]GM RVWDWQL ZDUVWZ PDWHULDX L JRQR
ZFLJQSRZLHWU]H
'HOLNDWQLHSRJDVNDDPJDGNRZ\SROHURZDQHGUHZQR
2WRLRQ
*LGHRQ PLOF]D SU]H] FKZLO 3U]H] GREU\FK SDU FKZLO MHOL PDP E\
V]F]HUD
*LGHRQ"VS\WDDP]DQLHSRNRMRQD
/HVOLHEDJDDPQLHE\PSRF]HNDDMHV]F]HSDUGQLHE\VLXSHZQLF]\
QDSUDZGPRQDPXXIDDOHMDM]E\DP
3RSURVWXMHMQLHZLHU]\HPZ\V]HSWDZNRFX$QLSU]H]VHNXQGQLH
ZLHU]\HP&KDUORWFLH
6SRMU]D QD PQLH L MHJR RF]\ Z W\P ZLHWOH E\\ ]XSHQLH FLHPQH &]\
PDV]ZLDGRPRFRE\VLVWDRJG\E\NWRVLRW\PGRZLHG]LD"
2V]F]G]LDP VRELH XZDJL H ZLH R W\P FDNLHP VSRUR RVyE , PRH
GODWHJRH*LGHRQVSUDZLDZUDHQLHWDNZ\WUFRQHJR]UyZQRZDJLQDJOHMD
WH]DF]DPRGF]XZDVWUDFK
1DSUDZG FKFHP\ WR ]UREL" VS\WDDP L SRF]XDP PGRFL NWyUH W\P
UD]HP QLH PLD\ QLF ZVSyOQHJR ] ]DSRZLHG]L SRGUy\ Z F]DVLH 7R H
G]LDGHNZF]\WDPRMNUHZGRFKURQRJUDIXWRE\DMHGQDVSUDZD$OHWRFR
]DPLHU]DOLP\]URELWHUD]WRE\D]XSHQLHLQQDKLVWRULD
=DPNQOLE\P\ NUJ NUZL D VNXWNL WHJR PRJ\ E\ QLHSU]HZLG\ZDOQH
0yZLFRSW\PLVW\F]QLH
0RMDSDPL]UHNDSLWXORZDDV]\ENRWHZV]\VWNLHSDVNXGQHSU]HSRZLHGQLH
]DZLHUDMFHVRZD
ZLHF]Q\LFLHUSLHQLHLGRU]XFLDMHV]F]HNLONDV]F]HJyyZNRF]F\FKVL
VRZDPL ZV]HWHF]Q\ L SU]H]QDF]HQLH $ IDNW H MHVWHP QLHPLHUWHOQD QLH
E\GODPQLHQDMPQLHMV]\PSRFLHV]HQLHP
&R G]LZQH WR FK\ED ZDQLH PRMD QLHSHZQR Z\UZDD *LGHRQD ]
RGUWZLHQLD
&]\ FKFHP\ WR ]UREL" 3RFK\OL VL L GD PL V]\ENLHJR FDXVDZ QRV
6HULRPQLHRWRS\WDV]"=GMNXUWNLZ\FLJQ]SOHFDNDXS\SRFKRG]FH
]JDELQHWXGRNWRUD:KLWH
D2NHM]DF]\QDP\
1DMSLHUZ]DR\VRELHJXPRZRSDVNQDSUDZHUDPLLMFLVQ3RWHP
]HVWHU\OQHJRRSDNRZDQLDZ\MVWU]\NDZNLXPLHFKQVLGRPQLH
6LRVWUR SRZLHG]LD UR]ND]XMF\P WRQHP /DWDUND :\NU]\ZLDP
WZDU]
FKURQRJUDILH SRZLHWU]H GUDR L FKR QD SRF]WNX PRJR VL ]GDZD H ZH
ZQWU]XFKURQRJUDIXV]DOHMHRJLHWHUD]ZRNyQDV]URELRVLQDJOHORGRZDWR
]LPQR0LJRF]FHZLDWR]JDVRD]EDWNL]QRZX]QLHUXFKRPLD\:V]\VWNR
WUZDRQLHGXHMQLPLQXW
3XFLDP
*LGHRQD
L
SRJDG]LDP
ZRVNL
VWRMFH
PL
GED
QD
SU]HGUDPLRQDFK
7RZV]\VWNR"
*LGHRQZ]LJERNLZGHFKLZ\FLJQUN7\PUD]HPRGURELQGUDD
7HUD]]REDF]\P\SRZLHG]LD
:]LDPMHGQ]PD\FKEXWHOHF]HNODERUDWRU\MQ\FKGRNWRUD:KLWH
DLPX
SRGDDP
%G RVWURQ\ -HOL WR SURV]HN SRGPXFK ZLDWUX PRH JR SR SURVWX
]ZLD
7R E\ PRH QLH E\R QDMJRUV]H PUXNQ *LGHRQ 2GZUyFL VL Z PRM
VWURQ 2F]\ PX E\V]F]D\ :LG]LV]" 3RG GZXQDVWRJZLD]G Z\SHQLD VL
SU]\U]HF]HQLH
0LDDP Z QRVLH GZXQDVWRJZLD]G 7HUD] ZRODDP VNXSL VL QD PRMHM
ODWDUFH
1R GDZDM SRZLHG]LDDP QLHFLHUSOLZLH SRFK\OLDP VL GR SU]RGX D
*LGHRQZ\VXQPDOHNV]XIODGN
7U]HEDSU]\]QDHE\DPUR]F]DURZDQD3RW\FKZV]\VWNLFKWDMHPQLFDFK
L JDGDQLQLH R PLVWHULDFK E\DP VWUDV]OLZLH UR]F]DURZDQD : V]XIODGFH
]QDMGRZDVLQLHS\QMDNSU]HZLG\ZDD/HVOLHQDSHZQRMHVWF]HUZRQ\MDN
NUHZ SRZLHG]LDD ] V]HURNR RWZDUW\PL RF]DPL DQL SURV]HN DQL DGHQ
NDPLH
7R E\D VXEVWDQFMD NWyUD Z\JOGDD MDN VyO -DN V]ODFKHWQD VyO PDVD
GUREQLXWNLFKRSDOL]XMF\FKNU\V]WDNyZ
6]DOHVWZR Z\V]HSWDDP 1LH GR ZLDU\ H GOD W\FK SDUX RNUXFKyZ
SRGHMPRZDQRRGZLHNyZWDNRJURPQ\WUXG
*LGHRQRVRQLV]XIODGNGRQL
1DMZDQLHMV]H HE\ QLNW VL QLH GRZLHG]LD H ]QDOHOLP\ VL Z
SRVLDGDQLXW\FKRNUXFKyZU]HNZQDSLFLX
6NLQDPJRZ3RPLMDMFW\FKNWyU]\MXRW\PZLHG]LHOL
/HSLHMVLSRVSLHV]V\NQDP
1DJOHZ\REUD]LDPVRELHHODG\$ULVWDNWyUDRLOHPLE\RZLDGRPRQLH
EDDVLQLNRJRLQLF]HJRDMXQDSHZQRZ\VRNRFLZ\JU]HEXMHVL]ZD]XL
Z\U\ZDQDPEXWHOHF]N
*LGHRQ QDMZ\UDQLHM SRP\OD FR SRGREQHJR ER ]XSHQLH QLHXURF]\FLH
QDSHQLEXWHOHF]NLV]\ENRM]DPNQ'RSLHURJG\VFKRZDMGRNLHV]HQL
NXUWNLZ\UDQLHRGHWFKQ
:W\PPRPHQFLHSU]\V]DPLMHGQDNGRJRZ\LQQDP\O
7HUD]JG\FKURQRJUDIVSHQLVZRMH]DGDQLHPRHZRJyOHMXQLHEG]LH
G]LDDSRZLHG]LDDP
=REDF]\P\ RGU]HN *LGHRQ L XPLHFKQ VL GR PQLH $ ]DWHP
UXV]DMP\GRURNX
5R]G]LD
2 FKROHUD FK\ED XVLDGHP QD W\P SU]HNOW\P NDSHOXV]X PUXNQ
*LGHRQ
3U]HVWD NO ER MHV]F]H VXILW VSDGQLH QDP QD JRZ V\NQDP $
MHOLQLH]DR\V]VZRMHJRNDSHOXV]DSRVNDUVLQDFLHELHPDGDPH5RVVLQL
;HPHULXV ]DUHFKRWD 7\P UD]HP VRELH QLH GDURZD L SRV]HG UD]HP ]
QDPL
.DSHOXV]WHQLHZLHOHSRPRH=WIU\]XUZV]\VF\ZURNXZH]P
JR]DJUDEDU]D0yJE\VRELHSU]\QDMPQLHM]URELSRU]GQ\SU]HG]LDHN
8V\V]DDPMDN*LGHRQFLFKRNOQLHW\PUD]HPSHZQLHGODWHJRHXGHU]\
VLZRNLH:FDOHQLHE\RDWZRSU]HEUDVLZNRQIHVMRQDOHLE\DPPRFQR
SU]HNRQDQDHWRZLWRNUDG]WZRX\ZDWDNLHJRPLHMVFDMDNRSU]HELHUDOQL
3RPLMDMF IDNW H ZDPDQLH GR NRFLRD VWDQRZLR ] FD SHZQRFL WDNH
F]\Q NDUDOQ\ QDZHW MHOL VL QLF QLH XNUDGR W\ONR ]DPLHU]DR VL
SU]HVNRF]\ GR URNX *LGHRQ RWZRU]\ ERF]QH GU]ZL PHWDORZ\P
KDF]\NLHPWDNV]\ENRHQDZHWQLHPLDDPF]DVXVL]GHQHUZRZD
:FLyUQRFL;HPHULXV]X]QDQLHPJZL]GQSU]H]]E\3RZLQLHQFL
WHJR QDXF]\ :H GZRMH E\OLE\P\ QLHSRNRQDQ\P ]HVSRHP ZDP\ZDF]\
:UF] QLHPLHUWHOQLH GREU\P 1DZLDVHP PyZLF E\ WR WHQ VDP NRFLy Z
NWyU\PMD L ;HPHULXV VL SR]QDOLP\ LZ NWyU\P *LGHRQ SLHUZV]\ UD] PQLH
SRFDRZD 1LH E\R F]DVX E\ ]DWRSL VL Z QRVWDOJLF]Q\FK ZVSRPQLHQLDFK
DOH]GDZDRPLVLHWRZV]\VWNRZ\GDU]\RVLGDZQRGDZQRWHPXFKRZ
U]HF]\ZLVWRFLXS\QR]DOHGZLHSDUGQL
*LGHRQ]DVWXND]]HZQWU]ZGU]ZLNRQIHVMRQDX
*RWRZD"
1LH 1LHVWHW\ Z PRMHM VXNQL QLH Z\QDOH]LRQR MHV]F]H ]DPND
E\VNDZLF]QHJR SRZLHG]LDDP ]DDPDQD OLF]E JX]LNyZ QD SOHFDFK GR
NWyU\FKPLPRQDMG]LZDF]QLHMV]\FKZ\JLEDVyZQLHE\DPZVWDQLHGRVLJQ
:\VXQDP VL ] NRQIHVMRQDX &]\ PRMH VHUFH SU]HVWDQLH NLHG\ V]\EFLHM
ELQDZLGRN*LGHRQD"
&]\ NLHG\ SU]\ NDG\P VSRMU]HQLX QD QLHJR QLH EG]LH PL VL ]GDZDR
MDNE\PQLHFRROHSLR"
-DNGREU]HHQLH]DGDZDOLP\VRELHWUXGX]DXWHQW\F]Q\PLIU\]XUDPL
SRZLHG]LDDPJG\VWDQOLP\SU]HGGRPHPODG\7LOQH\
1HUZRZR SU]HMHFKDDP UN SR ZRVDFK NWyUH REOHSL\ PL JRZ :FL
V]F]NDDP]EDPL
*LGHRQ]DG]ZRQLGRGU]ZLLPRFQLHMFLVQPQLH]DUN
-DNR PL WDN QLHVZRMR Z\V]HSWDDP -HV]F]H PDP\ F]DV HE\ SR
SURVWXVLVWG]P\0RHOHSLHME\E\RQDMSLHUZVLZVSRNRMX]DVWDQRZL
ZMDNLHMNROHMQRFLPDP\
V\NQ *LGHRQ :V]\VWNR Z SRU]GNX *ZHQQ\ -HVWHP SU]\
WRELH
7DNMHVWHSU]\PQLHSRZLHG]LDDPLSRZWyU]\DPWRQDW\FKPLDVWSDU
UD]\ MDN XVSRNDMDMF PDQWU -HVWH SU]\ PQLH MHVWH SU]\ PQLH MHVWH
SU]\PQLH
7DNMDNRVWDWQLRGU]ZLRWZRU]\ORNDMZELD\FKUNDZLF]NDFK=OXVWURZD
QDVGRZURJR
3DQ0LOOKRXVHSUDZGD"*LGHRQXPLHFKQVLXSU]HMPLH&]\EG]LH
SDQ WDN PL\ L ]DDQRQVXMH QDV ODG\ 7LOQH\" 3DQQD *ZHQGRO\Q 6KHSKHUG L
*LGHRQGH9LOOLHUV
.DPHUG\QHURFLJDVLSU]H]FKZLO
3URV]]DF]HNDU]XFLL]DPNQQDPGU]ZLSU]HGQRVHP
1R ZLHV] SDQ %HUQKDUG QLJG\ E\ VRELH QD FR WDNLHJR QLH SR]ZROL
SRZLHG]LDDP]REXU]HQLHP
&y SHZQLH P\OL H ]QRZX PDV] SU]\ VRELH SLVWROHW L FKFHV] XWRF]\
NUZLMHJRFKOHERGDZF]\QL
1LH PRH SU]HFLH ZLHG]LH H ODG\ /DYLQLD XNUDGD FL SLVWROHW FKRFLD MD
FD\ F]DV ]DGDM VRELH S\WDQLH MDN RQD WR ]URELD 7R ]QDF]\ FR WDNLHJR
]URELDH]XSHQLHVWUDFLHF]XMQR-HOLMHV]F]HNLHG\VLQDQLQDWNQ
]DS\WDPMRWRFKRV]F]HU]HPyZLFZFDOHQLHMHVWHPSHZQDF]\ZRJyOH
FKFWRZLHG]LH2FKDWHUD]WUDMNRF]MDNNDUDELQPDV]\QRZ\]DZV]HWDN
MHVWNLHG\VLGHQHUZXM1LHZ\GDMHPLVLHE\PGDDUDGVWDQ]QLPL
WZDU]ZWZDU]*LGHRQLHEUDNPLWFKXDOHWRPRHGODWHJRHSRSURVWXQLH
RGG\FKDPFKRFLDWRSU]HFLHQLFQLHV]NRG]LERMHVWHPQLHPLHUWHOQD:
W\P PRPHQFLH PyM JRV ]DDPD VL KLVWHU\F]QLH DOH EH] DGQHM SDX]\
PyZLDP GDOHM &RIQLMP\ VL OHSLHM R NURN ER MDN GU]ZL VL QDVWSQ\P
UD]HPRWZRU]WRWHQ0LOOKRXVHPRHFL'U]ZLRWZRU]\\VL]QRZX
UEQPUXNQDPMHV]F]HV]\ENR*EXURZDW\ORNDMZSXFLQDVGR
URGND
/DG\ 7LOQH\ RF]HNXMH SDVWZD Z PD\P VDORQLH R]QDMPL V]W\ZQR
0XV]W\ONRVSUDZG]LF]\QLHPDSDQEURQL
-HOL WR NRQLHF]QH *LGHRQ EH] VSU]HFLZX SRGQLyV UFH L SR]ZROL
0LOOKRXVH
RZLVLREV]XND
:SRU]GNX0RJSDVWZRLSRZLHG]LDORNDM
$FR]HPQ"VS\WDDP]DVNRF]RQD
7\MHVWHGDPDGDP\QLHQRV]EURQL*LGHRQVLXPLHFKQZ]L
PQLH]DUNLSRFLJQZJyUSRVFKRGDFK
&y ]D OHNNRP\OQR 6SRMU]DDP QD 0LOOKRXVH
D NWyU\ V]HG NLOND
NURNyZ ]D QDPL 7\ONR GODWHJR H MHVWHP NRELHW RQ VL PQLH QLH ERL"
1LHFKE\ VRELH REHMU]D 7RPE 5DLGH 0RJDE\P PLH SRG VSyGQLF ERPE
DWRPRZ L SR JUDQDFLH Z NDGHM PLVHF]FH ELXVWRQRV]D 8ZDDP H WDNLH
SRVWSRZDQLH ]DVDGQLF]R G\VNU\PLQXMH NRELHW\ *DGDDE\P QDGDO L WR EH]
DGQHJRSU]HFLQNDDQLNURSNLPQLHMZLFHMGR]DFKRGXVRFDOHF]XV]F]\WX
VFKRGyZ RF]HNLZDD QDV ODG\ 7LOQH\ V]F]XSD L Z\SURVWRZDQD MDN ZLHFD
%\DQLH]Z\NOHSLNQNRELHWLORGRZDWHVSRMU]HQLHQLHPRJRWHJR]PLHQL
2GUXFKRZR FKFLDDP XPLHFKQ VL GR QLHM DOH ]PXVLDP NFLNL XVW E\
]DZUyFL\ Z Sy GURJL : URNX ODG\ 7LOQH\ E\D ]QDF]QLH EDUG]LHM
VXURZD QL SyQLHM JG\ RGNU\D MX MDN SU]\MHPQH MHVW V]\GHNRZDQLH
ZLQHN 1DJOH XZLDGRPLDP VRELH H QLH W\ONR QDV]H IU\]XU\ E\\ ]XSHQLH
QLHZ\MFLRZHOHF]WDNHVXNQLDZLVLDDQDPQLHQLF]\PPRNU\ZRUHN
0LPRZROL]DGDDPVRELHS\WDQLHF]\Z\QDOH]LRQRMXVXV]DUN
7R ]QRZX SDQ SRZLHG]LDD ODG\ 7LOQH\ GR *LGHRQD JRVHP UyZQLH
FKRGQ\PMDNMHMVSRMU]HQLH
3RG W\P Z]JOGHP W\ONR ODG\ $ULVWD PRJD VL ] QL UyZQD -HVW SDQ
QDSUDZGXSDUW\&K\ED]UR]XPLDSDQSRGF]DVVZHMRVWDWQLHMZL]\W\HQLH
GDPSDQXPRMHMNUZL
1LH MHVWHP\ WXWDM ] SRZRGX SDQL NUZL ODG\ 7LOQH\ RGSDU *LGHRQ
'DZQRMX2GFKU]NQ
&KFLHOLE\P\UD]MHV]F]HSRUR]PDZLD]/XF\L3DXOHP7\PUD]HPEH]
QLHSRUR]XPLH
1LHSRUR]XPLH /DG\ 7LOQH\ VNU]\RZDD UFH QD RNU\W\FK NRURQNDPL
SLHUVLDFK2VWDWQLPUD]HPQLH]DFKRZDVLSDQQDMOHSLHMPRG\F]RZLHNX
LZ\ND]DSDQSU]HUDDMFVNRQQRGRSU]HPRF\3R]DW\PREHFQHPLHMVFH
SRE\WX/XF\L3DXODQLHMHVWPL]QDQHLQDZHWZLQQ\FKRNROLF]QRFLDFKQLH
PRJDE\PSDQXSRPyF3U]HUZDDQDFKZLODMHMZ]URNVSRF]QDPQLH
0\O MHGQDN H PRJDE\P ]DDUDQRZD VSRWNDQLH -HM JRV VWD VL R
SyOWRQXFLHSOHMV]\%\PRHW\ONR]*ZHQGRO\QLRF]\ZLFLHZLQQ\PF]D
1DSUDZGQLHFKFE\QLHXSU]HMP\DOHFK\EDSDQLUR]XPLHHQDV]F]DV
MHVWEDUG]RRJUDQLF]RQ\ZSDGMHMZVRZR*LGHRQLSRFLJQPQLHZJyU
VFKRGyZDMDLPRMDVXNQLDNRPSOHWQLH]PRF]\\P\NRV]WRZQ\G\ZDQ,
ZLHPHREHFQLH/XF\L3DXOPLHV]NDMXSDQLZLFQLHFKLFKSDQLSRSURVWX
]DZRD2ELHFXMHW\PUD]HPEGVL]DFKRZ\ZDVWRVRZQLH
7R MHVW ]DF]D ODG\ 7LOQH\ OHF] QDJOH RWZRU]\\ VL ]D QL GU]ZL L
FKZLOSRWHPVWDQDNRRQLHMPRGDV]F]XSDG]LHZF]\QD
/XF\
0RMDPDWND
0RFQLHM XMDP GR *LGHRQD JDSLF VL QD /XF\ L W\P UD]HP FKRQF
NDG\V]F]HJyMHMZ\JOGX
5XGH ZRV\ SRUFHODQRZREODGD FHUD L GXH QLHELHVNLH RF]\ Z\ND]\ZD\
QLH]DSU]HF]DOQH SRGRELHVWZR GR ZV]\VWNLFK NRELHW ] URG]LQ\ 0RQWURVH DOH
MDSU]HGHZV]\VWNLPV]XNDDPZVSyOQ\FKFHFK]HPQ&]\WRVPRMHXV]\"
&]\ QLH PDP WDNLHJR VDPHJR PDHJR QRVD" $ OLQLD EUZL F]\ QLH MHVW WDN
EDUG]RSRGREQDGRPRMHM"&]\NLHG\PDUV]F]\DF]RRQLHUREL\VLMHMWDNLH
VDPHPLHV]QHNUHVNL"
2Q PD UDFM QLH SRZLQQLP\ WUDFL F]DVX 0DUJUHW SRZLHG]LDD FLFKR
/XF\-HMJRVGUDOHNNRLVHUFHPLVLFLVQR&]\E\E\SDQWDNGREU\L
SRV]HGSR3DXODSDQLH0LOOKRXVH"
/DG\7LOQH\ZHVWFKQDDOHVNLQDQD0LOOKRXVH
DNWyU\VSRJOGDQDQL
S\WDMFR
/XF\FKFLDDE\PFLSU]\SRPQLHHRVWDWQLPUD]HP*LGHRQSU]\VWDZLD
FLSLVWROHWGRJRZ\RGH]ZDDVLODG\7LOQH\JG\ORNDMPLQQDVLZV]HG
SLWURZ\HM
1DSUDZG EDUG]R PL SU]\NUR SRZLHG]LD *LGHRQ = GUXJLHM VWURQ\
]PXVL\ PQLH GR WHJR RNROLF]QRFL 6SRMU]D ]QDF]FR QD /XF\
7\PF]DVHP MHGQDN ]QDOHOLP\ VL Z SRVLDGDQLX LQIRUPDFML NWyUH
VSRZRGRZD\]PLDQQDV]HMRSLQLL
DGQLH SRZLHG]LDQH MD WH FK\ED SRZLQQDP GRU]XFL GR WHM UR]PRZ\ FR
JyUQRORWQHJR7\ONRFR"
0DPRZLHPNLPMHVWHFKRGWXLSU]\WXOPQLH"
/XF\ SU]HEDF]DP FL H PQLH ]RVWDZLD 7HUD] MX QLNW L QLF QDV QLH
UR]G]LHOL"
0XVLDDP Z\GD ] VLHELH MDNL NUyWNL G]LZQ\ GZLN NWyU\ *LGHRQ
]XSHQLHSUDZLGRZR]LQWHUSUHWRZDMDNRZVWSGRDWDNXKLVWHULL2EMPQLH
UDPLHQLHPLSU]\WU]\PDZVDPSRUERPRMHQRJLQDMZ\UDQLHMQLHE\\MX
ZVWDQLHXWU]\PDFLDUXFLDD
0RHSU]HMG]LHP\GRVDORQX"]DSURSRQRZDD/XF\'REU\SRP\V2LOH
GREU]HSDPLWDPPRQDWDPJG]LHXVL
6WROLN GR KHUEDW\ Z QLHZLHONLP RZDOQ\P SRNRMX QLH E\ W\P UD]HP
QDNU\W\ DOH ZV]\VWNR Z\JOGDR WDN MDN RVWDWQLR SRPLMDMF NRPSR]\FM
NZLDWRZ ] ELD\FK Uy ]PLHQLD VL Z RVWUyNL L OHZNRQLH : Z\NXV]X
RNQDZ\FKRG]FHJRQDXOLF]REDF]\DPSDUNU]HVHLIRWHOL
8VLGFLHSRZLHG]LDDODG\7LOQH\
2SDGDPQDNU]HVR]SHUNDORZWDSLFHUNDOHLQQLVWDOLGDOHM
/XF\XPLHFKQDVLGRPQLH3RGHV]DNURNEOLHMLZ\JOGDDWDNMDNE\
FKFLDD PQLH SRJDVND SRZRVDFK =HUZDDP VL QHUZRZR 3U]HSUDV]DP
HMHVWHP\WDF\PRNU]\1LHVWHW\QLHZ]LOLP\]HVRESDUDVROD]DF]DP
SDSOD
8PLHFK/XF\SRV]HU]\VL
-DNWR]DZV]HPyZLODG\$ULVWD"0XVLDDPWHVLXPLHFKQ
']LHFNRQLHQDPRMHNRV]WRZQHSRGXV]NLSRZLHG]LD\P\FKyUHP
1DJOH WZDU] MHM VL ]PLHQLD 7HUD] /XF\ Z\JOGDD WDN MDNE\ ]DUD] PLDD
VLUR]SDND
3RZLHPHE\SU]\QLHVLRQRKHUEDWSRZLHG]LDDHQHUJLF]QLHODG\7LOQH\
L FKZ\FLD QLHZLHONL G]ZRQHN +HUEDWD PLWRZD ] GX LORFL FXNUX L
JRUF\PVRNLHP]F\WU\Q\
1LH SURV] *LGHRQ GHVSHUDFNR SRNUFL JRZ 1LH PRHP\ QD WR
WUDFL F]DVX 1LH ZLHP F]\ Z\EUDHP ZDFLZ\ PRPHQW DOH PDP RJURPQ
QDG]LHMH]ZDV]HJRSXQNWXZLG]HQLDPRMHL
3DXODVSRWNDQLHZURNXMXVLRGE\R
/XF\NWyUD]G\D]SRZURWHPZ]LVLZJDUSRZROLVNLQDJRZD
*LGHRQRGHWFKQ]XOJ
$ ZLF MDVQH MHVW GOD ZDV H SU]HND]DOLFLH PL WDMQH GRNXPHQW\
KUDELHJR 3RWU]HERZDOLP\ QLHFR F]DVX DE\ ZV]\VWNR ]UR]XPLH DOH WHUD]
ZLHP\ H NDPLH ILOR]RILF]Q\ QLH MHVW XQLZHUVDOQ\P OHNLHP GOD FDHM
OXG]NRFLOHF]PDMHG\QLH]DSHZQLQLHPLHUWHOQRKUDELHPX
, H WD QLHPLHUWHOQR NRF]\ VL ZUD] ] FKZLO QDURG]LQ *ZHQGRO\Q
V]HSQD /XF\ GODWHJR EG]LH SUyERZD M ]DEL MDN W\ONR NUJ ]RVWDQLH
]DPNQLW\"
*LGHRQVNLQJRZDMDVSRMU]DDP]LU\WDFM2W\PV]F]HJyOHGRWHMSRU\
G\VNXWRZDOLP\ VWDQRZF]R ]D PDR $OH REHFQD FKZLOD WH QLH E\D
RGSRZLHGQLDERPyZLMXGDOHM
:DPFKRG]LR]DZV]HW\ONRRWRE\FKURQL*ZHQGRO\Q
:LG]LV]/XF\SU]HFLHFLPyZLHP:GU]ZLDFKSRMDZLVL3DXO
0LD UN QD WHPEODNX L JG\ VL ]EOLD VSRMU]HQLH MHJR ]RW\FK RF]X
ZGURZDRPLG]\*LGHRQHP
/XF\LPQ
:VWU]\PDDP RGGHFK %\ ]DOHGZLH NLOND ODW VWDUV]\ RGH PQLH L Z
QRUPDOQ\P\FLXSRP\ODDE\PHZ\JOGDZLHWQLH]W\PLNUXF]RF]DUQ\PL
ZRVDPL QLHVDPRZLW\PL RF]DPL GH 9LOOLHUVyZ L QLHZLHONLP GRNLHP Z
EURG]LH 0LDDP QDG]LHM H WH ERNREURG\ WR QLH MHJR ZLQD SHZQLH Z
WDPW\FK F]DVDFK WDNLH VL QRVLR 3DO V]H ERNREURG\ RQ QDSUDZG QLH
Z\JOGDMDNPyMRMFLHFDQLSUDZGPyZLFMDNF]\MNROZLHNRMFLHF
$ZLFF]DVHPZDUWRGDOXG]LRPNUHG\W]DXIDQLDSRZLHG]LDL]PLHU]\
*LGHRQDZ]URNLHP
1DZHWWDNLHPXPDHPXGUDQLRZLMDNRQ
'RWHMSRU\QLHRGZD\HPVLSRND]DSDSLHUyZQLNRPX]OR\
6NLQDP JRZ -X QD VRILH Z URNX RSRZLDGD PL R VZ\FK
SRGHMU]HQLDFKHZUyG
6WUDQLNyZMHVW]GUDMFD
0RLP ]GDQLHP ]DEUDDP JRV LVWQLHMH PROLZR H Z QDV]\FK
F]DVDFKMHGHQDOERQDZHWNLONX
6WUDQLNyZ ]QD SUDZG]LZH G]LDDQLH NDPLHQLD ILOR]RILF]QHJR L SODQ\
KUDELHJR NWyU\ SUDJQLH VWD VL QLHPLHUWHOQ\ 3UyERZDDP VL
VNRQFHQWURZD QD IDNWDFK L NX PRMHPX ]GXPLHQLX Z W\P JV]F]X HPRFML
XGDRPLVLWRQDGVSRG]LHZDQLHGREU]H$PRHZDQLHG]LNLQLP"$MHOL
G]LDGHN ]GHPDVNRZD WHJR ]GUDMF" 7R E\ Z\MDQLDR GODF]HJR ]RVWD
]DPRUGRZDQ\
=RVWD]DPRUGRZDQ\"SRZWyU]\D]H]G]LZLHQLHP/XF\
1LHPDGRZRGyZRGSDU*LGHRQ$OHZV]\VWNRQDWRZVND]XMH
2SRZLHG]LDDP PX ZF]HQLHM R ZL]ML FLRFL 0DGG\ L R ZDPDQLX Z GQLX
SRJU]HEX
7R ]QDF]\ H GR ]DPNQLFLD NUJX G RELH VWURQ\ SRZLHG]LDD ]
QDP\VHP ODG\ 7LOQH\ : SU]HV]RFL ]D V]QXUNL SRFLJD KUDELD GH 6DLQW
*HUPDLQ Z SU]\V]RFL ]D MHVW MHGHQ OXE QDZHW NLONX VRMXV]QLNyZ NWyU]\
ZVSLHUDMMHJRSODQ\
3DXOXGHU]\SLFLZRSDUFLHIRWHODSU]HGVRE
$QLHFKWRGLDEOLZ\FHG]LSU]H]]DFLQLWH]E\/XF\XQLRVDJRZ
0RHFLH SU]HFLH SRZLHG]LH 6WUDQLNRP H QDV QLH ]QDOHOLFLH -HOL
QDV]DNUHZQLH]RVWDQLHZF]\WDQDWRNUJVLQLH]DPNQLH
7RQLHMHVWWDNLHSURVWHRGU]HN*LGHRQ6WUDQLF\
:LHP QDSXFLOL QD QDV SU\ZDWQ\FK GHWHNW\ZyZ SU]HUZDD PX ODG\
7LOQH\3DQRZLHGH9LOOLHUVLWHQZDQLDN3LQNHUWRQ6P\WKHQDV]F]FLH
XZDDM VL ]D EDUG]R VSU\WQ\FK PQLH ]D SRQLHZD MHVWHP NRELHW ]D
EDUG]R JXSL 1LH SU]\MG]LH LP MHGQDN GR JRZ\ H SU\ZDWQL GHWHNW\ZL
F]DVHP FKWQLH ]DFKRZXM GOD VLHELH LQIRUPDFMH FKFF SRPQR\ VZH
VNURPQHGRFKRG\
&]XMVLGRNDGQLHWDNVDPR]DSHZQLDPJR7RSRSURVWX]E\WZLHOH
LQIRUPDFML E\ GDR VL MH SU]HWUDZL ]D MHGQ\P ]DPDFKHP 'R NDGHM P\OL
MHVWSU]\F]HSLRQ\FKG]LHVLQDVWSQ\FK
$ WR QLH ZV]\VWNR SRZLHG]LD *LGHRQ -HVW MHV]F]H ZLHOH U]HF]\ GR
RPyZLHQLD1LHVWHW\]DFKZLOSU]HVNRF]\P\]SRZURWHP$OHZUyFLP\]DSy
JRG]LQ\ 7R ]QDF]\ GOD *ZHQGRO\Q L GOD PQLH WR EG]LH MXWUR UDQR MHOL
ZV]\VWNRSyMG]LHGREU]H
1LHMDU]WHJRPUXNQ3DXODOH/XF\Z\JOGDDWDNMDNE\MZDQLH
RZLHFLR
-HOL QLH SU]\E\OLFLH WXWDM ] RILFMDOQ PLVM RG 6WUDQLNyZ WR NWR ZDV
Z\VD"VS\WDDSRZROLL]EODGD$OERUDF]HMFR"
0\ ]DF]DP DOH *LGHRQ U]XFL PL V]\ENLH VSRMU]HQLH L
QLHSRVWU]HHQLHSRNUFLJRZ
0RHP\WR]DUD]Z\MDQLRGU]HN
5]XFLDPRNLHPQD]HJDU
1LHSRZLHG]LDDP*LGHRQXQLyVEUZL
1LH"VS\WD
:]LDP JERNL ZGHFK 5DSWHP VWZLHUG]LDP H QLH PRJ F]HND DQL
VHNXQG\GXHM3RZLHP
/XF\L3DXORZLSUDZGWXLWHUD]
1DJOH RSXFL\ PQLH QHUZ\ F]XDP VL W\ONR QLHVNRF]HQLH ]PF]RQD
-DNE\P SU]HELHJD SLG]LHVLW NLORPHWUyZ L QLH VSDOD SU]H] MDNLH VWR ODW ,
RGGDDE\P ZV]\VWNR ]D WR E\ *LGHRQ SR]ZROL ODG\ 7LOQH\ ]DPyZL GOD QDV
JRUF PLWRZ KHUEDW ] F\WU\Q L FXNUHP 0XVLDDP VL MHGQDN RE\ EH]
QLHM
=GHF\GRZDQLHVSRMU]DDPQD/XF\L3DXOD
0XV]ZDPFRSRZLHG]LH]DF]DPFLFKR&K\EDPDP\W\OHF]DVX
.LHG\ EUDW &\QWKLL SU]HEUDQ\ ]D RJURGRZHJR NUDVQDOD RWZRU]\ QDP
GU]ZL ]GDZDR QDP VL H UR]ZDU\ VL EUDP\ SLHNLH 0X]\ND E\D
SRGNUFRQDQDPDNVDLWRQLHE\WHQMHMURG]DMGRNWyUHJRFKWQLHWDF]\OL
URG]LFH&\QWKLLOHF]EU]PLDRWRMDNFRSRPLG]\KRXVHDGXEVWHS
']LHZF]\QD]NRURQQDJRZLHRGHSFKQDRJURGRZHJRNUDVQDODQDERNL
]Z\PLRWRZDD PLG]\ KRUWHQVMH SU]\ GU]ZLDFK 0LDD ]LHORQNDZ WZDU] DOH
WRPyJE\PDNLMD
7RXFKGRZQ
? ]DZRDD SURVWXMF VL -X VL EDDP H QLH
GRELHJQ
2FKOLFHDOQHLPSUH]\SRZLHG]LD*LGHRQ$OHIDMQLH
*DSLDP VL Z RVXSLHQLX &R WX NRPSOHWQLH QLH JUDR 6WDOLP\ SU]HG
V]DFRZQ\P GRPRVWZHP URG]LQ\ 'DOH
yZ Z HOHJDQFNLP &KHOVHD : PLHMVFX
JG]LH ]Z\NOH PyZLR VL SyJRVHP $ ZLF GODF]HJR OXG]LH WDF]\OL MX Z
KROX" , Z RJyOH GODF]HJR E\R LFK WDN GXR" , VNG VL EUD WHQ PLHFK"
1RUPDOQLHQDLPSUH]DFKX&\QWKLLQLNWVLQLHPLDQRFK\EDHRGF]DVX
GRF]DVX]DNU\ZDMFXVWDGRQL,JG\E\VRZRQXGDMHV]F]HQLHLVWQLDR
QDSHZQR]RVWDRE\Z\QDOH]LRQHGRRNUHOHQLDSDQXMFHJRXQLHMQDVWURMX
-HVWHFLH]LHORQLDZLFZFKRGFLHGRURGND]DVNU]HF]DEUDW&\QWKLLL
ZFLVQ PL GR UNL V]NODQN 3URV] =LHORQ\ NRNWDMO SRWZRUyZ %DUG]R
]GURZ\ 1DWXUDOQ\ VRN RZRFRZ\ ZLHH RZRFH ]LHORQ\ EDUZQLN VSR\ZF]\
DOH HNRORJLF]Q\ , PDOHNL \F]HN ELDHJR ZLQD 7H HNRORJLF]QHJR U]HF]
MDVQD
:DVL URG]LFH Z\MHFKDOL QD ZHHNHQG" VS\WDDP SUyEXMF SU]HSFKQ
SU]H]GU]ZLWRQ\PDWHULDXVXNQL6LVVL
&R"
3RZWyU]\DPS\WDQLHG]LHVLGHF\EHOLJRQLHM
1LHJG]LHVLWXWDMNUF:\SRZLHGRJURGRZHJRNUDVQDODE\DQLHFR
EHNRWOLZD 3RNyFLOL VL ER WDWR NRQLHF]QLH FKFLD RQJORZD ]LHORQ\PL
NXOHF]NDPL]VRLLQDPDZLDZV]\VWNLFKHE\JRQDODGRZDOL7HQNWRWUDILZ
PDP\ QDNU\FLH JRZ\ GRVWDQLH QDJURG +HM 0XULHO D F]HJR W\ V]XNDV] Z
V]DILH"7RDOHWDMHVWWDPSRGUXJLHMVWURQLH
2NHM =GHF\GRZDQLH FR WX QLH JUD SRZLHG]LDDP GR *LGHRQD
0XVLDDP ZU]HV]F]H HE\ PQLH XV\V]D =D]Z\F]DM OXG]LH VWRM WX Z
JUXSNDFK V]W\ZQL MDN EURNX\ L F]HNDM QD SyQRF , SUyEXM ]ZLD SU]HG
URG]LFDPL &\QWKLL NWyU]\ ]PXV]DM F]RZLHND GR ]DEDZQ\FK JLHU W\OH H V
RQH]DEDZQHW\ONRGODQLFK
*LGHRQZ\MPL]UNLV]NODQNLXSL\N
SR]ZROL
PRMHPX
QDGZHURQHPX
Py]JRZL
QD
UXQG
/HVOLH SU]\VDD PL F]WHU\ 606\ Z NWyU\FK GDD QDV]HM REHFQRFL QD
LPSUH]LH=ZDV]F]DRVWDWQLEU]PLDGRDODUPXMFR$OERUXV]\FLHZUHV]FLH
W\NLLSU]\MG]LHFLHWXWDMDOER]DQLFMXQLHUF]
/D *ZHQQ\ 7R E\ *RUGRQ *HOGHUPDQ Z VZHWU]H ]H V]WXF]QHJR
WUDZQLND :OHSL Z]URN Z PyM GHNROW 6LVVL L JZL]GQ SU]H] ]E\ =DZV]H
ZLHG]LDHPHSRGEOX]NPDV]FRZLFHMQLW\ONRGREUHVHUFH
3U]HZUyFLDP RF]DPL *RUGRQ ]DZV]H ]DFKRZ\ZD VL HQXMFR QLH XPLD
LQDF]HMDOHF]\*LGHRQPXVLVLWDNLGLRW\F]QLHXPLHFKD"
+HM*RUGRQLH3RZLHG]WU]\UD]\ZF]DVLHVXV]\V]RVDVXFKDZU]DVQD
6DUDK
: F]DVLH V]XV]\ VRVD GXFKD Z F]DVLH VXV\ V]RV]D V]XFKD Z F]DVLH
V]XV\ VRV]D V]XFKD ]DZRD EH] ZDKDQLD *RUGRQ 'OD PQLH DGHQ
SUREOHP +HM *ZHQQ\ SUyERZDD MX NRNWDMOX" 1DFK\OL VL SRXIDOH
2EDZLDPVLU\NQPLGRXFKDHQLHE\HPMHG\QRVRENWyUDZSDGD
QD SRP\V HE\ WURFK KPPP SRGUDVRZD WHQ SU]HSLV 3U]H] FKZLO
Z\REUD]LDP VRELH JRFL LPSUH]\ MDN LG Z]GX EXIHWX UR]JOGDMF VL
XNUDGNLHPDSRWHPZOHZDMGRNRNWDMOXSU]HV]PXJORZDQZyGN
1R WR FR H ]H 6]ZHFML QR WR FR H ]H 6]ZHFML 6SUyEXM WR SRZLHG]LH
F]WHU\UD]\VNDQGRZDD
6DUDK]DWDF]DMFVLLNOHSLF*LGHRQDSRW\NX/HVOLHMHVWZRUDQHULL
8U]G]LOL WDP NDUDRNH -D WH WDP ]DUD] SyMG W\ONR ZH]P VRELH \F]HN
NRNWDMOX =LHORQ\ NRQLXV]HN ILOFX QDG MHM JRZ NLZD VL ZHVRR 7R
QDSUDZGQDMOHSV]DLPSUH]DQDMDNLHME\DPGRWHMSRU\
*RUGRQSDUVNQPLHFKHP
1R &\QWKLD SRZLQQD E\ QDSUDZG ZG]LF]QD 3R G]LVLHMV]HM QRF\ QLNW
MX QLH SRZLH H LPSUH]\ X QLHM V QXGQH 7R GRSLHUR V]F]FLDUD 'R WHJR
VHUZLV FDWHULQJRZ\ GRVWDUF]\ GXR ]D GXR SU]HNVHN .DG\ ] QDV PyJ
MHV]F]H ]DG]ZRQL SR SDUX NXPSOL 1LHNWyU]\ QLH V QDZHW SU]HEUDQL R
]LHOHQLQLHZVSRPQ
=QyZSU]HZUyFLDPRF]DPLLHQHUJLF]QLHSRFLJQDP*LGHRQDSU]H]WXP
WDF]F\FKZDULDWyZZVWURQRUDQHULL*RUGRQSRV]HG]DQDPL
$OHMDN"7RWHUPLQDWRU0RHPRJOLE\P\SRSURVWXU]XFLZQLF]\P
FLNLP"]DSURSRQRZD
5DSKDHO
)DQL &KDUORWW\ QDMZ\UDQLHM ]DXZD\OL H MHM QDVWUyM E\ MDN QDMGDOV]\ RG
OX]X7\ONR*RUGRQU\F]DGDOHM5R]ELHUDMVL
6SUyERZDDP QDZL]D NRQWDNW Z]URNRZ\ ] *LGHRQHP DOH RQ E\
ZSDWU]RQ\Z&KDUORWWH3RZROLWRURZDVRELHGURJGRVWRXQDNWyU\PVWDD
&KDUORWWD Z]LD JERNL ZGHFK D PLNURIRQ SRQLyV MHM ZHVWFKQLHQLH Z
QDMGDOV]\NWRUDQHULL
0\ RQ L MD ZLHP\ ZV]\VWNR R KLVWRULL 1DXF]\OLP\ VL ZVSyOQLH
SRGUyRZDZF]DVLH
3RZLQQLFLH ]REDF]\ MDN WDF]\ PHQXHWD $OER MHG]L NRQQR $OER MDN
IHFKWXMH$OERJUDQDIRUWHSLDQLH
*LGHRQE\WMXSUDZLHSU]\QLHM
-HVWQLHVDPRZLFLHGREU\ZHZV]\VWNLPFRUREL,SRWUDILZ\]QDPLR
Z RPLX M]\NDFK SRZLHG]LDD UR]PDU]RQ\P JRVHP L SR UD] SLHUZV]\ Z
\FLX]REDF]\DPH]\QDS\ZDMMHMGRRF]X1LHPQLHMZ\]QDRQLH
2QVLLQWHUHVXMHW\ONRPRMJXSNRZDWNX]\QN
=DJU\]DPZDUJL 7RZ\JOGDR PL QD ]DPDQH VHUFH L QLNW QD ZLHFLH QLH
SRWUDILMHM]UR]XPLHOHSLHMQLMD.WRE\SRP\ODH&KDUORWWDZRJyOHPD
VHUFH" 1DJOH ]DSUDJQDP E\ WHRULD /HVOLH QD WHPDW VHUF ] PDUFHSDQX
RND]DDVLSUDZG]LZD3U]\W\PPRMHVHUFHDNXUDWEROHQLHVLVNXUF]\RL]
Z\VLNLHPSRZVWU]\P\ZDDPIDO]D]GURFLNWyUDSUyERZDDPQLH]DOD
*LGHRQZ\FLJQUNGR&KDUORWW\
&]DVLGRGRPX
%XXXX]DZRD*RUGRQZUDOLZ\QLF]\PVQRSRZL]DNDDOHSR]RVWDOL
ZQDSLFLXZVWU]\PDOLRGGHFK
=RVWDZPQLHSRZLHG]LDD&KDUORWWDGR*LGHRQD2GURELQVLFKZLDD
-HV]F]HQLHVNRF]\DP
-HGQ\PVNRNLHP*LGHRQ]QDOD]VLNRRQLHMQDVWROHL]DEUDMHMPLNURIRQ
.RQLHFSU]HGVWDZLHQLDR]QDMPL&KRGMX&KDUORWWR]DZLR]FLGR
GRPX
&KDUORWWDSU\FKQDQDQLHJRQLF]\PUR]]RV]F]RQDNRWND
=DPLFLNDUNMHOLPQLHGRWNQLHV]=QDPNUDYPDJZLHV]SU]HFLH
-DWH]DSRPQLDD"=QRZXZ\FLJQGRQLHMUN&KDUORWWDSRFKZLOL
ZDKDQLDXMDMDQDZHWSR]ZROLDVL]GM]HVWRX]PF]RQ\SLMDQ\HOI]
WUXGHPWU]\PDVLQDQRJDFK
*LGHRQREMMZWDOLLLRGZUyFLVLGRPQLH=MHJRWZDU]\QLHEDUG]RGDR
VLZ\F]\WDFRP\OL
0XV] WR V]\ENR ]DDWZL :\ LGFLH ] 5DSKDHOHP GR PQLH GR GRPX
U]XFLNUyWNR7DPVLVSRWNDP\
3U]H]PRPHQWQDV]HVSRMU]HQLDVL]HWNQ\
1DUD]LHSRZLHG]LD6NLQDPJRZ
1DUD]LH
&KDUORWWDQLHRGH]ZDDVLMXVRZHP
$ MD ]DVWDQDZLDDP VL F]\ .RSFLXV]HN WH PLD FKR RGURELQ Z\U]XWyZ
VXPLHQLDJG\]HVZ\PNVLFLHPRGMHGDQDELD\PNRQLXZVLQGDO
5R]G]LD
, WR MHVW MHV]F]H MHGHQ SRZyG HE\ WU]\PD VL ] GDOD RG DONRKROX
ZHVWFKQD /HVOLH 0RHV] QDZHW VWDQ QD XV]DFK DOH MDN SR SLMDNX
QDURELV]JXSRWWRLWDNQDNRQLHFEG]LHV]ZLHFLRF]DPL:NDG\PUD]LH
QLHFKFLDDE\PZSRQLHG]LDHNUDQRZV]NROHE\ZVNyU]H&KDUORWW\
&\QWKLLWHQLHGRGDDP
:\FKRG]F ]REDF]\OLP\ MXELODWN Z JDUGHURELH REFLVNXMF VL ]
FKRSDNLHP NWyU\ FKRG]L GZLH NODV\ QLHM RG QDV Z W\FK RNROLF]QRFLDFK
]UH]\JQRZDDP ] SRHJQDQLD VL ] &\QWKL W\P EDUG]LHM H QDZHW VL QLH
SU]\ZLWD\P\
$OER Z VNyU]H WHJR ELHGQHJR JRFLD NWyU\ ]Z\PLRWRZD QD G]LZDF]QH
DELHEXW\SDQL'DOHGRU]XFL5DSKDHO
6NUFLOLP\Z&KHOVHD0DQRU6WUHHW
&KDUORWWDQDSUDZGGRVWDDZLUD/HVOLH]DWU]\PDDVLSU]HGZ\VWDZ
VNOHSX]WNDQLQDPLRELFLRZ\PLDOHQLHSRWRE\SU]\MU]HVLHNVSR]\FMLOHF]
HE\SRG]LZLDZDVQHRGELFLHZV]\ELH1LHFKWQLHWRPyZLDOHE\RPLMHM
QDSUDZGV]NRGD
0QLHWHSRZLHG]LDDPFLFKR
: NRFX GRNDGQLH ZLHG]LDDP MDNLH WR XF]XFLH E\ ]DNRFKDQ Z
*LGHRQLH , QLHVWHW\ ZLHG]LDDP UyZQLH MDNLH WR XF]XFLH JG\ VL F]RZLHN
SXEOLF]QLHZ\JXSL 3U]\ RGURELQLH V]F]FLD GRMXWUDZV]\VWNR ]DSRPQL
5DSKDHORWZRU]\GU]ZLGRPX]F]HUZRQHMFHJ\
=QDMGRZDVLU]XWEHUHWHPRGGRPXSDVWZD'DOH
yZLGODWHJRQDMDWZLHM
E\RQDPWXWDMSU]HEUDVLQDLPSUH]X&\QWKLL
%\DP]E\WZ]EXU]RQDPRLPVSRWNDQLHP]/XF\L3DXOHPZURNXE\
VLGRNDGQLHMUR]HMU]H=URELDPWRGRSLHURWHUD]
:DFLZLH]DZV]HE\DPSU]HNRQDQDH*LGHRQPLHV]NDZMHGQ\P]W\FK
KLSHUV]SDQHUVNLFK ORIWyZ VWR PHWUyZ NZDGUDWRZ\FK ]LHMFHM SXVWNL
PQyVWZRFKURPXL V]NDDQDFLDQLH SDVNLWHOHZL]RUUR]PLDUyZERLVNDGR
SLNLQRQHM$OHP\OLDPVL:VNLNRU\WDU]\NWXRERNZHMFLDSURZDG]LGR
]DODQHJRZLDWHPSRNRMXNWyUHJRSU]HFLZOHJFLDQWZRU]\RZLHONLHRNQR
%RF]QH FLDQ\ ]DMPRZD\ VLJDMFH GR VXILWX UHJD\ SHQH NVLHN S\W
'9' L VHJUHJDWRUyZ D SRG RNQHP VWDD GXD V]DUD VRID ] FD PDV
SRGXV]HN
6HUFH SRNRMX WZRU]\ RWZDUW\ IRUWHSLDQ NWyUHJR GRVWRMHVWZR ]DNyFDD
MHGQDNH RSDUWD R QLHJR ]XSHQLH QLHXURF]\FLH GHVND GR SUDVRZDQLD 'R
FDHJR REUD]X QLH]E\W WDNH SDVRZD ]DZLHV]RQ\ QLHGEDOH QD SRNU\ZLH
IRUWHSLDQX WUyMJUDQLDVW\ NDSHOXV] NWyUHJR PDGDPH 5RVVLQL QD SHZQR MX
V]XNDD ]DDPXMF UFH ] UR]SDF]\ $OH Fy PRH WDN ZDQLH *LGHRQ
Z\REUDDVRELHZDVQHF]WHU\NW\"
&]HJRVLQDSLMHFLH"VS\WD5DSKDHOJRVSRGDU]LGHDOQ\
$ FR PDFLH" RGSRZLHG]LDD S\WDQLHP /HVOLH L QLHXIQLH ]DMU]DD GR
NXFKQL JG]LH Z ]OHZR]P\ZDNX SLWU]\\ VL QDF]\QLD L WDOHU]H SRNU\WH
F]\PFRSU]\SXV]F]DOQLHE\RNLHG\VRVHPSRPLGRURZ\P
$ PRH WR E\ MDNL PHG\F]Q\ HNVSHU\PHQW SRWU]HEQ\ *LGHRQRZL QD
VWXGLDFK"
5DSKDHORWZRU]\ORGyZN
+P 3RSDWU]P\ -HVW POHNR DOH WHUPLQ ZDQRFL XS\Q Z XELHJ
URG 6RN SRPDUDF]RZ\ RMHM RQ PRH VL ]EU\OL" 7HQ NDUWRQ G]LZQLH
V]HOHFL $OH WR WXWDM Z\JOGD ZLHOFH RELHFXMFR WR PXVL E\ MDNL URG]DM
RUDQDG\Z\PLHV]DQHM]
2FK QDSLM VL SR SURVWX ZRG\ /HVOLH FKFLDD VL U]XFL QD RJURPQ
V]DU VRI DOH Z RVWDWQLHM VHNXQG]LH SU]\SRPQLDD VRELH H VXNQLD *UDFH
.HOO\ QLH QDGDMH VL QD WDN VZRERG L XNDGQLH SU]\VLDGD QD EU]HJX
.ODSQDPRERNQLHM]EH]EU]HQLHJERNLPZHVWFKQLHQLHP%LHGQD
*ZHQQ\/HVOLHSRJDVNDDPQLHF]XOHSRSROLF]NX&R]DG]LH3HZQLH
PDV]ZV]\VWNLHJRGRV\3RFLHV]\FLJG\FLSRZLHPHZRJyOHWHJRSRWRELH
QLHZLGD"
:]UXV]\DPUDPLRQDPL
7URV]HF]N
5DSKDHO ZUyFL ]H V]NODQNDPL L EXWHON ZRG\ ]PLyW ]H VWROLND SU]\ VRILH
NLOND F]DVRSLVP L NVLHN ZUyG QLFK LOXVWURZDQ\ WRP R PF]\]QDFK Z
HSRFHURNRNR
1RDSRWHPSU]HND]DOLP\LPMHV]F]HUDGRVQZLDGRPRHKUDELDQLH
PRH PQLH ]DEL L QLNW QLH PRH ER MHVWHP QLHPLHUWHOQD 2F]\ZLFLH QLH
FKFLHOL Z WR XZLHU]\ DOH PLHOLP\ ]D PDR F]DVX L QLH PRJOLP\ LP WHJR
XGRZRGQLQDSU]\NDGNDF0LOOKRXVH
RZLV]\ENRPQLHXGXVLDOERFRZ
W\PVW\OX0XVLHOLP\ZLF]RVWDZLLFK]RWZDUW\PLXVWDPLLXFLHNDHE\Z
SRUMHV]F]HGRWU]HGRNRFLRDSU]HGSRZURWQ\PSU]HVNRNLHPZF]DVLH
,FREG]LHWHUD]"
-XWURLFK]QRZXRGZLHG]LP\L*LGHRQ SU]HGVWDZLZWHG\JHQLDOQ\SODQ
SRZLHG]LDDP 1LHVWHW\ PXVL JR MHV]F]H G]LVLDM Z QRF\ Z\P\OL $OH MHOL
FKRZSRRZLHMHVWWDNSDGQLW\MDNMDWRQDSHZQRQLHEG]LHPyJ]HEUD
P\OL
1R WDN DOH QD WR MHVW NDZD , MD JHQLDOQD /HVOLH +D\ /HVOLH REGDU]\D
PQLH ]DFKFDMF\P XPLHFKHP $ SRWHP ZHVWFKQD $OH PDV] UDFM WR
QDSUDZG QLH MHVW SURVWH 7R ZSUDZG]LH FXGRZQLH H PDFLH FKURQRJUDI L
VDPL PRHFLH SRGUyRZD Z F]DVLH DOH SU]HFLH QLH PRHFLH JR X\ZD Z
VSRVyEQLHRJUDQLF]RQ\3U]HGHZV]\VWNLPGODWHJRHMXWUR]QRZXPXVLFLHVL
VSRWND]KUDELLZWHQVSRVyEPDFLHGRG\VSR]\FMLQDMZ\HMGZLHJRG]LQ\]
ZDV]HJRSU]\G]LDXF]DVRZHJR
+"MNQDP/HVOLHZHVWFKQD
1LH F]\WDD $QQ\ .DUHQLQ\" 1LH ZROQR SRGGDZD VL HODSVML ZLFHM QL
SLLSyJRG]LQ\G]LHQQLHZSU]HFLZQ\PUD]LHZ\VWSXMVNXWNLXERF]QH
/HVOLH XGDZDD H QLH ZLG]L ]DFKZ\FRQHJR VSRMU]HQLD 5DSKDHOD -D QLH
ZLHPFRVG]LRW\PHPDFLHWHQSURV]HN2QMHVWQLHEH]SLHF]Q\0DP
QDG]LHMHSU]\QDMPQLHMXNU\OLFLHJRWDNHQLNWJRQLH]QDMG]LH
2 LOH ZLHG]LDDP EXWHOHF]ND ZFL WNZLD Z NLHV]HQL VNyU]DQHM NXUWNL
*LGHRQD$OHQLHSRZLHG]LDDPWHJR/HVOLH
3DXOSU]\QDMPQLHMGZDG]LHFLDUD]\]DGDHE\P\JR]QLV]F]\OL
7HQIDFHWQLHMHVWJXSL
1LH 3RNUFLDP JRZ *LGHRQ XZDD H WR PRH E\ QDV] DV Z
UNDZLH
&]DG PUXNQ 5DSKDHO 0RQD E\ JR DUWHP Z\VWDZL QD H%D\X L
VSUDZG]L NWR ZHPLH XG]LD Z OLF\WDFML 3URV]HN QD QLHPLHUWHOQR GR
MHGQRUD]RZHJRX\FLD&HQDZ\ZRDZF]DMHGHQIXQW
1DSHZQRPDV]UDFM7HE\PVLOHSLHMEDZLDJG\E\P\VL]DPLHQL\
URODPL
*G\5DSKDHOZUyFL]SDSLHUHPLNRORURZ\PLSLVDNDPL/HVOLHQDW\FKPLDVW
]DF]DU\VRZDUDPNLLVWU]DNL
3U]HGH ZV]\VWNLP VSUDZD ] VRMXV]QLNDPL KUDELHJR ZUyG 6WUDQLNyZ
SU]\SUDZLD PQLH R EyO JRZ\ 3U]H] FKZLO JU\]D NRFyZN RyZND
&KRFLD WR WH RSLHUD VL W\ONR QD SU]\SXV]F]HQLX DOH ZV]\VWNR MHGQR :
JUXQFLH U]HF]\ WR PRH E\ NDG\ SUDZGD" 0LQLVWHU ]GURZLD WHQ G]LZQ\
GRNWRU PL\ SDQ *HRUJH SDQ :KLWPDQ )DON L WHQ UXGRZRV\ JEXU MDNH
RQVLQD]\ZD"
0DUOH\SRZLHG]LDDP$OHZ\GDMHPLVLHWRQLHMHVWWDNLJR
$OHMHVWSRWRPNLHP5DNRF]HJR:LHV]SU]HFLHMDNWRE\ZDWRV]DZV]H
FLNWyU\FKQDMPQLHMVLSRGHMU]HZD
=JDG]D VL SU]\]QD 5DSKDHO &L QLHV]NRGOLZL WR QDMF]FLHM GUDQLH
3U]HGMNDDPLLJEXUDPLWU]HEDVLPLHQDEDF]QRFL
7HQ VRMXV]QLN KUDELHJR QD]ZLMP\ JR SDQHP ; PRH E\ PRUGHUF
G]LDGND *ZHQQ\ /HVOLH ] ]DSDHP ED]JUDD SR NDUWFH , SU]\SXV]F]DOQLH
MHVWW\PNWyU\PLDE\]DEL*ZHQQ\JG\KUDELDGRVWDQLHMXVZyMHOLNVLU
6SRMU]DD QD PQLH ] F]XRFL 2G NLHG\ ZLHP H MHVWH QLHPLHUWHOQD
RFLXSLQNPQLHMVLPDUWZL
1LHPLHUWHOQDDOHPRQDM]UDQLZWUFL]DP\ORQ\*LGHRQ
:]GU\JQOLP\VLZV]\VF\WDNQDVSU]HVWUDV]\1LH]DXZDRQ\ZV]HGGR
SRNRMX L WHUD] VWD ]H VNU]\RZDQ\PL UDPLRQDPL RSDUW\ R IXWU\Q :FL
MHV]F]HE\XEUDQ\ZVWUyM]RVLHPQDVWHJRZLHNXLMDN]DNDG\PUD]HPPRMH
VHUFHZ\NRQDRPD\EROHVQ\VNRN
-DN VL F]XMH &KDUORWWD" VS\WDDP PDMF QDG]LHM H S\WDQLH
]DEU]PLDRWDNQHXWUDOQLHMDNSRZLQQR]DEU]PLH
*LGHRQ]H]QXHQLHPZ]UXV]\UDPLRQDPL
0\O H MXWUR EG]LH PXVLDD \NQ SDU DVSLU\Q 3RGV]HG EOLHM
&RURELFLH"
3ODQ\ /HVOLH ]DNOHV]F]\D F]XEHN M]\ND Z NFLNX XVW ]QRZX FR
U\VXMF1LHPRHP\WDNH]DSRPLQDRPDJLLNUXNDSRZLHG]LDDEDUG]LHM
GRVLHELH
:HVWFKQZLG]FQDV]HRVXSLDHVSRMU]HQLD3RP\OFLHW\ONRPROLZH
HKUDELDNLHG\ZRVLHPQDVW\PZLHNXMDNLPVSRVREHP]D\MHGQDNHOLNVLU
LVWDVLQLHPLHUWHOQ\
:V]\VF\ WURMH ZOHSLOLP\ Z QLHJR Z]URN &KR QLH EDUG]R UR]XPLDDP
GODF]HJRFDHFLDRSRNU\RPLVLJVLVNyUN
7R E\ ] NROHL R]QDF]DR H Z WHM FKZLOL SUDZGRSRGREQLH \MH FLJQ
*LGHRQ SDWU]F PL SURVWR Z RF]\ =H VRELH JG]LH WDP FKRG]L L F]HND QD
QDV D SU]\QLHVLHP\ PX WHQ HOLNVLU GR RVLHPQDVWHJR ZLHNX $ SRWHP
]QDMG]LHRND]MHE\FL]DEL
3U]H]NLONDPLQXWSDQRZDDFLV]D
1LHSRZLHPRGH]ZDDVLZNRFX/HVOLHHFDNLHPFLUR]XPLHPDOH
QDZHW MHOL ] MDNLHJR SRZRGX ]PLHQLOLE\FLH SODQ\ L GRVWDUF]\OL KUDELHPX
HOLNVLUWRRQLWDNPDPDOHNLSUREOHP
=DPLDDVL]VDW\VIDNFM1LHPRH]DEL*ZHQQ\
5DSKDHO]DNUFLSLVDNLHPQDVWROHQLF]\PEF]NLHP
$SR]DW\PGODF]HJRPLHOLE\FLH]PLHQLDSODQ\VNRUR]QDFLHSUDZG]LZH
]DPLDU\KUDELHJR"
*LGHRQPLOF]DSU]H]FKZLODMHJRWZDU]E\DQLHPDOSR]EDZLRQDZ\UD]X
JG\ZUHV]FLHVLRGH]ZD
%RPRQDQDV]DV]DQWDRZDSRZLHG]LD
=D G]LHVL PLQXW ]DG]ZRQL EXG]LN SRZLHG]LD ;HPHULXV D MD
REXG]LDPVLERSRF]XDPQDWZDU]\FRZLOJRWQHJRL]LPQHJR
:]G\FKDMFQDFLJQDPVRELHNRGUQDJRZ
7RELH WR VL QLH GRJRG]L -HV]F]H ZF]RUDM PLDD SUHWHQVMH H FL QLH
REXG]LHP;HPHULXVE\REUDRQ\
%R ZF]RUDM QLH QDVWDZLDP VRELH EXG]LND $ SR]D W\P MHVW QDSUDZG
FKROHUQLHZF]HQLHEXUNQDP
7U]HED VL SRZLFL MHOL VL FKFH V]\EFLXWNR XUDWRZD ZLDW SU]HG
QLHPLHUWHOQ\P PDQLDNLHP U]XFL ;HPHULXV 8V\V]DDP MDN ] V]HOHVWHP
RNU\SRNyM=NWyU\PQDZLDVHPPyZLFVSRWNDV]VLG]LSRSRXGQLX
MHOLRW\P]DSRPQLDD1RGDOHMZ\D]EHWyZ
8GDZDDPHMHVWHPPDUWZD7RQLHE\RWUXGQHERWDNVLPQLHMZLFHM
F]XDP SDO V]H QLHPLHUWHOQR $OH QD ;HPHULXVLH PRMH Z\VLNL
QDMZ\UDQLHMQLH]UREL\V]F]HJyOQHJRZUDHQLD
: GRVNRQD\P KXPRU]H VIUXQ QD PRMH yNR L ]DF] PL VNU]HF]H GR
XFKD SU]HUyQH WUXL]P\ QD F]HOH ] WDNLPL MDN .WR UDQR ZVWDMH WHPX SDQ
%yJGDMHL:VWDZDMV]NRGDGQLD
6]NRGD WR MDN E\N GR VWXGQL QDUREL SRZLHG]LDDP DOH Z NRFX
;HPHULXVGRSLVZHJR
:FLHNDVWRF]\DPVL]yNDLZHIHNFLHSXQNWXDOQLH
VLyGPHMVWDDPQDVWDFMLPHWUDZ7HPSLH
1RFyFLOHU]HF]ELRUFPRMDNRPyUNDSRND]\ZDDVLyGPV]HVQDFLH
DOHW\ONRGODWHJRHXVWDZLDPZQLHM]HJDUWURFKGRSU]RGX
:\JOGDV] QD WDN VDPR ]PF]RQ MDN MD VL F]XM ZHVWFKQD /HVOLH
NWyUDMXF]HNDDQDXPyZLRQ\PSHURQLH
2WHMSRU]H]ZDV]F]DZQLHG]LHOUDQRQDVWDFMLQLHZLHOHVLG]LDRPLPR
WR]DGDDPVRELHS\WDQLHZMDNLVSRVyE*LGHRQ]DPLHU]DVLVWGSU]HGRVWD
QLH]DXZDRQ\ GR WXQHOX PHWUD 1D MDVQR RZLHWORQ\FK SHURQDFK E\D PDVD
NDPHUSU]HP\VRZ\FK
2GVWDZLDPFLNZ\SDNRZDQSREU]HJLWRUESRGUyQ
REU]XFLDP ]\P VSRMU]HQLHP ;HPHULXVD NWyU\ MDN V]DORQ\ OHFLD
VODORPHPPLG]\VXSDPL
7R ZLQD ;HPHULXVD 1LH SR]ZROL PL X\ NRUHNWRUD PDP\ ER SRGREQR
E\RMX]DSyQR
2F]\ZLFLHQLDGDPLWHZVWSLGR6WDUEXFNV
/HVOLH]DFLHNDZLRQDSU]HNU]\ZLDJRZ
6SDDZGRPX"
1RMDVQHDJG]LHE\LQG]LHM"]DS\WDDPQLHFRSRLU\WRZDQD
1R Fy P\ODDP H QD FKZLO SU]HUZDOLFLH VQXFLH SODQyZ NLHG\
SRV]OLP\]5DSKDHOHP
3RGUDSDD VL SR QRVLH 7\P EDUG]LHM H VSHFMDOQLH GXJR HJQDDP VL ]
5DSKDHOHPHE\GDZDPGRF]DVXQDSU]HQRVLQ\]VRI\GRV\SLDOQL
6SLRUXQRZDDPMZ]URNLHP
6SHFMDOQLHGXJR"VS\WDDPSU]HFLJOH-DNLHSRZLFHQLH
/HVOLHZ\V]F]HU]\D]E\ZXPLHFKX
1R Z\REUD VRELH 1DZHW VL SU]\ W\P QLH ]DUXPLHQLD $OH QLH
]EDF]DMWHUD]]WHPDWX0RJDSRZLHG]LHPDPLHHSLV]XPQLH
6NU]\ZLDPVL
7DDV]F]HU]HPyZLFFKWQLHE\PWDN]URELD$OH*LGHRQ XSDUVLH
ZH]ZLHPLWDNVyZN
1DMZ\UDQLHM GRU]XFLDP RGURELQ QLHV]F]OLZD QLH MHVW QDZHW Z
SRRZLHWDNXZRG]LFLHOVNLMDNP\ODDP
1RERRQMHVWEDUG]RHHHRGSRZLHG]LDOQ\SRFLHV]\DPQLH/HVOLH
7DN WH PRQD WR QD]ZD RGH]ZD VL ;HPHULXV NWyU\ ZDQLH
]DNRF]\ VZyM VODORP &LNR G\V]F XVLDG QD ]LHPL $OER SR SURVWX
QXG]LDU]DQHPLNF\NRU6]\ENR]DF]HUSQSRZLHWU]D
/HVHUDVHNXUDQWWFKyU]
/HVOLH VSRMU]DD QD ]HJDUHN 0XVLDD ZU]DVQ HE\ SU]HNU]\F]H RVNRW
ZDQLHZMHGDMFHJRQDSHURQSRFLJX&HQWUDO/LQH
$SRGREQRQLHVWDNLHSXQNWXDOQH-HVWMXGZDG]LHFLDSR=PLHU]\D
Z]URNLHP WH SDU RVyE NWyUH Z\VLDG\ ] SRFLJX $ SRWHP QDJOH RF]\ MHM
UR]E\V\1RV
2EDMZ\F]HNLZDQL]XWVNQLHQLHPNVLWD]EDMNLWHJRUDQNDSR]RVWDZLOL
VZH ELDH NRQLH Z VWDMQL L SU]\MHFKDOL PHWUHP ]DGHNODPRZD XURF]\VW\P
WRQHP;HPHULXV1DLFKZLGRNNVLQLF]NRP]DOQL\RF]\LJG\VSRWNDVL
]H VRE ]PDVRZDQ\ DGXQHN PRG]LHF]\FK KRUPRQyZ Z SRVWDFL
]DNRSRWDQ\FK FDXVNyZ QD SU]\ZLWDQLH L NUHW\VNLFK XPLHFKyZ PGU\ L
QLH]UyZQDQLH SLNQ\ GHPRQ PXVLD QLHVWHW\ ]Z\PLRWRZD GR NRV]D QD
PLHFL %H]ZVW\GQLH SU]HVDG]D DGQH ] QDV QLH XPLHFKDR VL NUHW\VNR
1R PRH W\ONR SURPLHQQLH , QLNW QLH E\ ]DNRSRWDQ\ 1R GREUD PRH MD
WURFK %R ZDQLH PL VL SU]\SRPQLDR MDN G]L Z QRF\ *LGHRQ ]GM PRMH
UFH]HVZRMHMV]\LLSRZLHG]LD/HSLHM]DZRDPFLWDNVyZN7RE\PF]F\
G]LH :\GDDP VL VRELH U]HSHP NWyUHJR WU]HED Z\F]HVD ]H VZHWUD
1DMJRUV]H E\R WR H ZDQLH Z W\P PRPHQFLH ]HEUDDP VL HE\ PX
Z\]QD .RFKDP FL 1LH FKRG]LR R WR H WHJR QLH ZLHG]LD DOH MHV]F]H
QLJG\PXWHJRQLHPyZLDP7HUD]]DQLHE\DPSHZQDF]\ZRJyOHFKFHWR
XV\V]H
*LGHRQSRJDVNDPQLHV]\ENRSRSROLF]NX
*ZHQQ\PRJWRWH]DDWZLVDP0XV]W\ONRSU]HFKZ\FLZDUWRZQLND
NWyU\PDVXEL]DEUDPXOLVW
DGQHPLW\ONREXUNQD/HVOLH
'DOHF\ MHV]F]H RG VWZRU]HQLD JHQLDOQHJR SODQX RSUDFRZDOLP\ MHGQDN
ZF]RUDMZHF]ZyUN
RJyOQ\]DU\VG]LDDQLDMDNQD]ZDDWR/HVOLH:NDG\PUD]LHPXVLHOLP\
UD] MHV]F]H VSRWND VL ] /XF\ L 3DXOHP L WR ]DQLP VWDQLHP\ SR SRXGQLX
WZDU]ZWZDU]]KUDEL,PXVLHOLP\RG]\VNDOLVW]LQIRUPDFMDPLQDWHPDW
SRE\WX /XF\ L 3DXOD NWyU\ *LGHRQ GRVWDUF]\ Z URNX 3RG DGQ\P
SR]RUHP QLH PyJ ZSD Z UFH yZF]HVQHJR :LHONLHJR 0LVWU]D /R\ L
EOLQLDNyZGH
9LOOLHUV 3RQLHZD F]DV NWyU\ PRJOLP\ SU]H]QDF]\ QD W WDMQ SRGUy Z
F]DVLH QLH U\]\NXMF V]NyG IL]\F]Q\FK F]\OL ]URELHQLD WHJR FR ;HPHULXV D
PLDQRZLFLH Z\PLRWRZDQLD GR NRV]D QD PLHFL RJUDQLF]D VL GR SyWRUHM
JRG]LQ\ QDG]Z\F]DM WUXGQR EG]LH QDP VHQVRZQLH Z\NRU]\VWD NDG
PLQXW
5DSKDHO ]XSHQLH SRZDQLH ]DSURSRQRZD HE\ SU]HV]PXJORZD
FKURQRJUDIGRNZDWHU\JyZQHM
6WUDQLNyZLVWDPWGSU]HVNDNLZDZF]DVLHDOHWDN]LPQHMNUZLQLHPLD
QDZHWMHJRVWDUV]\EUDW
-DNR NRQWUSURSR]\FM *LGHRQ Z\FLJQ NLOND UXORQyZ ] UHJDX ]
NVLNDPL L VSRPLG]\ $QDWRPLL F]RZLHND Z ' L 8NDGX QDF]\QLRZHJR
OXG]NLHM UNL Z\F]DURZD SODQ SRG]LHPQ\FK NRU\WDU]\ SU]HFLQDMF\FK
G]LHOQLF7HPSLH,WHQSODQE\SRZRGHPQDV]HJRVSRWNDQLDWXWDMQDVWDFML
PHWUD
&KFHV] WR ]DDWZL EH] QDV" =PDUV]F]\DP EUZL 3U]HFLH VL
XPyZLOLP\HZV]\VWNREG]LHP\URELUD]HP
1R ZDQLH SRSDU PQLH 5DSKDHO %R LQDF]HM QD NRFX SRZLHV] H
VDPXUDWRZDHZLDW
2QL/HVOLHPLHOLSLOQRZDFKURQRJUDIXLFKR;HPHULXV]XUD]]DXZD\
H ]URELE\ WR UyZQLH GREU]H SRFLHV]HQLHP E\D ZLDGRPR H PRJ JR
MDNLNUHW\QZURG]DMX0DUOH\D":WDNLPSU]\SDGNX*LGHRQDLPQLH]QDMG
SHZQLH Z URNX MDNR V]NLHOHW\ WU]\PDMFH VL ]D UF]NL 2FK QLH
]DSRPQLDDP
7\ONR *LGHRQ EG]LH V]NLHOHWHP -D QDWRPLDVW UDGRVQD MDN VNRZURQHN
EGVLHG]LHZF]HSLRQDZMHJRNRFL7DZL]MDQLHSRSUDZLDPLKXPRUX
*LGHRQ ]DWU]\PD VL Z]G\FKDMF ]R\ SODQ L ZHWNQ JR GR NLHV]HQL
VSRGQL
=JXELOLP\ GURJ" 3UyERZDDP ]DFKRZD VSRNyM 0RH WD PDSD WR
WRWDOQ\]RP$MHOLQLJG\ZLFHM
*ZHQGRO\QSU]HUZDPLQLHFLHUSOLZLHRGWHJRPLHMVFD]QDPGURJ7R
MXQLHGDOHNR&KRG
$FKWDN"
=DZVW\G]LDP VL ']L UDQR E\DP QDSUDZG WDN KP G]LHZF]\QN
6WDQRZLR GOD PQLH ]DJDGN MDN *LGHRQ FKFH RGQDOH GURJ Z W\P
ODELU\QFLH
&KROHUD ZGHSQDP Z NDX 7X RERN QLHM VLHG]LD FLHPQREU]RZ\
V]F]XULE\VNDF]HUZRQ\PLRF]DPLZZLHWOHPRMHMODWDUNL3LVQDPJRQR
=DSHZQH Z M]\NX V]F]XUyZ ]QDF]\R WR DOH MHVWH DGQ\ ER V]F]XU
Z\SURVWRZDVLQDW\OQ\FKDSNDFKLSU]HNU]\ZLHE
:FDOHQLHMHVWHDGQ\V\NQDP,GVWG
*G]LH W\ VL SRG]LHZDV]" *LGHRQ ]G\ MX ]QLNQ ]D QDVWSQ\P
URJLHP
3U]HNQDPOLQL]HEUDDPFDRGZDJHE\PLQV]F]XUD2QHFK\ED
QLHVWDNLHMDNSV\NWyUHVNDF]GRJyU\LJU\]F]RZLHNDZ\GNFR"1D
ZV]HONL Z\SDGHN ROHSLDDP ]ZLHU] ODWDUN GRSyNL QLH GRV]DP GR URJX
JG]LHF]HNDQDPQLH*LGHRQ3RWHPVNLHURZDDPVWUXPLHZLDWDGRSU]RGX
L]QRZXSLVQDP1DNRFXNRU\WDU]DXMU]DDPV\OZHWNPF]\]Q\
7DPNWRMHVWV\NQDP
&KROHUD*LGHRQFKZ\FLPQLHE\VNDZLF]QLHLSRFLJQ]SRZURWHPGR
FLHQLD
$OHE\R]DSyQR1DZHWJG\E\PQLHSLVQDZLDWRODWDUNLLWDNE\PQLH
]GUDG]LR
&K\EDPQLH]REDF]\V]HSQDP
7DN]REDF]\U]XFLSRQXUR*LGHRQ%RWRMHVWHPMD&y]DRVLR]H
PQLH 1R LG %G GOD PQLH PLD 3RSFKQ PQLH D Z\WRF]\DP VL QD
NRU\WDU]
&RGRV]HSQDPNLHG\SDGRQDPQLHZLDWRODWDUNL
*ZHQGRO\Q"XV\V]DDP]GXPLRQ\JRV*LGHRQD
$OH W\P UD]HP GRELHJD ] SU]RGX 3RWU]HERZDDPMHV]F]H Sy VHNXQG\ E\
]UR]XPLH H ZHV]OLP\ Z GURJ GDZQHPX MD *LGHRQD NWyU\ DNXUDW
]DPLHU]DSU]HND]DOLVW:LHONLHPX0LVWU]RZL
6NLHURZDDP QD QLHJR ODWDUN 2 %RH WR RQ =DWU]\PD VL Z RGOHJRFL
NLONXPHWUyZLSDWU]\VNRQVWHUQRZDQ\3U]H]GZLHVHNXQG\ROHSLDOLP\VL
Z]DMHPQLHODWDUNDPL
$W\VNGVLWXWDMZ]LD"VS\WD
1LHPRJDPLQDF]HMPXVLDDPVLGRQLHJRXPLHFKQ
+HM WR WURFK WUXGQR Z\MDQL SRZLHG]LDDP FKR QDMFKWQLHM
U]XFLDE\P+HMQLFVLQLH]PLHQLH
7HQ GUXJL REHFQ\ *LGHRQ Z\PDFKLZD UNDPL ]D Z\VWSHP PXUX
:\MDQLM PL ]DGDRMHJRZF]HQLHMV]HZFLHOHQLH ']LVLHMV]\ *LGHRQ ]DF]
MHV]F]HJZDWRZQLHMZ\PDFKLZDUNDPL1LHUR]XPLDDPFRFKFLDPLSU]H]
WRSRZLHG]LH
&KZLOHF]N 8PLHFKQDP VL XSU]HMPLH GR MHJR PRGV]HM ZHUVML
0XV]V]\ENRFRZ\MDQL=DUD]ZUDFDP
$OH QDMZ\UDQLHM DQL VWDUV]\ DQL PRGV]\ *LGHRQ QLH PLD RFKRW\ QD
Z\MDQLHQLD 3RGF]DV JG\ PRGV]\ SRV]HG ]D PQ L FKFLD PQLH ]DSD ]D
UDPL VWDUV]\ ZFDOH QLH F]HND Z\VNRF]\ GR SU]RGX L ] FDHM VL\ UEQ
VZRMH DOWHU HJR ODWDUN Z F]RR 0RGV]\ *LGHRQ SDG QD ]LHPL MDN ZRUHN
NDUWRIOL
=UDQLH JR 8NONDP L ] SU]HUDHQLHP SRSDWU]\DP QD NUZDZLF
UDQ
3U]H\MH 6WDUV]\ *LGHRQ E\ QLHZ]UXV]RQ\ &KRG PXVLP\ L
3U]HND]DQLHMXVLRGE\RRQ
OHNNRNRSQVDPHJRVLHELHMXZUDFDNLHG\FLVSRWND
&]XOHSRJDVNDDPMHJRQLHSU]\WRPQHMDSRZRVDFK
6DP VRELH SU]\UQH 3DPLWDV] MHV]F]H MDN SRGOH VL ZWHG\ ZREHF
PQLH]DFKRZDH"
*LGHRQXPLHFKQVLVDER
7DNSDPLWDP,QDSUDZGPLSU]\NUR$OHNWRE\VLWHJRVSRG]LHZD"$
WHUD] FKRG =DQLP WHQ GXUH VL RFNQLH -X GDZQR SU]HND]D OLVW
:\U]XFL ] VLHELH NLOND IUDQFXVNLFK VyZ MDN SRGHMU]HZDDP VRF]\VW\FK
SU]HNOHVWZSRQLHZDWDNMDNMHJREUDWSRVX\VLVRZHPPHUGHLWRSDU
UD]\
1R QR QR PRG\ F]RZLHNX RGH]ZD VL MDNL JRV WX RERN QDV
7\ONR]WHJRSRZRGXH]QDMGXMHP\VLZNDQDOHQLHZROQREH]]DKDPRZD
X\ZDNORDF]QHJRM]\ND
*LGHRQ RGZUyFL VL E\VNDZLF]QLH DOH QLH ]DDWDNRZD SU]\E\V]D 0RH
GODWHJRHJRVEU]PLDGREURWOLZLHLZHVRR8QLRVDPODWDUNLZMHMZLHWOH
XND]DDVLWZDU]PF]\]Q\ZUHGQLPZLHNX6NLHURZDDPSURPLHODWDUNL
QLHM E\ VSUDZG]L F]\ QLH WU]\PD Z\PLHU]RQHJR Z QDV SLVWROHWX 1LH
WU]\PD
-HVWHP GRNWRU +DUULVRQ SRZLHG]LD VNDQLDMF VL OHNNR SU]\ F]\P
MHJR QLHFR ]GH]RULHQWRZDQH VSRMU]HQLH EG]LR PLG]\ WZDU] *LGHRQD D
*LGHRQHP OHF\P QD ]LHPL , ZDQLH RWU]\PDHP SDVNL OLVW RG QDV]HJR
DGHSWD SHQLFHJR ZDUW :\FLJQ ] PDU\QDUNL NRSHUW QD NWyUHM
E\V]F]DDF]HUZRQDSLHF]/DG\7LOQH\R]QDMPLDHOLVWWHQQLHPRHZ
DGQ\PZ\SDGNXZSDZUFH:LHONLHJR0LVWU]DDQLLQQ\FKF]RQNyZ.UJX
:HZQWU]QHJR3R]DPQ
*LGHRQZHVWFKQLSRWDUF]RR
&KFLHOLP\ ]DSRELHF SU]HND]DQLX DOH Z W\FK NRU\WDU]DFK VWUDFLOLP\ ]D
GXR F]DVX D SRWHP LGLRWD MHGHQ GRSURZDG]LHP MHV]F]H GR VSRWNDQLD ]
VDP\PVRE:]LOLVWLZHWNQJRGRNLHV]HQL
'H9LOOLHUVNWyU\SU]\]QDMHVLGREGX"'RNWRU+DUULVRQUR]HPLDVL
FLFKR7RFR]XSHQLHQRZHJR1DV]F]FLHVSUDZ]DMDVLODG\7LOQH\
MD]DQLJG\MHV]F]HQLHZLG]LDHPE\MDNLMHMSODQVSDOLQDSDQHZFH3R]D
W\PNDG\VSU]HFLZE\E\FDNRZLFLHEH]FHORZ\:VND]DQD
*LGHRQDOHFHJRQD]LHPL3RWU]HEDPXSRPRF\"
1LH]DV]NRG]LRE\]GH]\QIHNRZDUDQLPRHSRR\PXFRPLNNLHJR
SRGJR]DF]DPDOH*LGHRQZSDGPLZVRZR
%]GXUD0DVLZLHWQLH
1LH]ZDDMFQDPRMHSURWHVW\RGFLJQPQLHRGOHFHMQD]LHPLSRVWDFL
0XVLP\ZUDFD
3URV] SR]GURZL RG QDV ODG\ 7LOQH\ GRNWRU]H +DUULVRQ , SURV] MHM
SRG]LNRZDZPRLPLPLHQLX
7RE\DGODPQLHSU]\MHPQRSRZLHG]LDGRNWRU+DUULVRQ
&KFLDMXLDOHPQLHZSDGRMHV]F]HFRGRJRZ\
&]\ PyJE\ SDQ SU]HND]D ODG\ 7LOQH\ HE\ VL QLH Z\VWUDV]\D MHOL Z
SU]\V]RFLRGZLHG]MZF]DVLHHODSVML"
'RNWRU+DUULVRQVNLQJRZ
$OHEDUG]RFKWQLH6NLQQDPUN3RZRG]HQLD,MXJRQLHE\R
&KFLDDP]DZRD]DQLPGRZLG]HQLDDOH*LGHRQSRFLJQPQLHMXZ
GUXJVWURQ6ZRMHQLHSU]\WRPQHDOWHUHJR]RVWDZLZNRU\WDU]X
7XVLQDSHZQRURLRGV]F]XUyZSRZLHG]LDDP]GMWDZVSyF]XFLHP
2QHVLSU]HFLHJDUQGRNUZL
0\OLV] MH ] UHNLQDPL RGU]HN *LGHRQ $OH SRWHP ]DWU]\PD VL
JZDWRZQLH RGZUyFL GR PQLH L Z]L PQLH Z UDPLRQD 7DN PL SU]\NUR
Z\PUXF]DZPRMHZRV\%\HPWDNLPJXSFHP
=DVX\HPVRELHQDWRHE\QDGJU\]PQLHMDNLV]F]XU
1DW\FKPLDVW ]DSRPQLDDP R W\P FR QDV RWDF]DR L R ZV]\VWNLP LQQ\P
REMDPJR]DV]\ML]DF]DPFDRZDQDMSLHUZZV]\MZXFKRZVNURD
SRWHPZ XVWD 3U]\WXOL PQLH PRFQR W\ONR SR WR HE\ WU]\ VHNXQG\ SyQLHM
]QyZPQLHRGHSFKQ
1DSUDZG QLH PD WHUD] QD WR F]DVX *ZHQQ\ SRZLHG]LD JQLHZQLH
]DSDPQLH]DUNLSRFLJQGRSU]RGX
:HVWFKQDP :LHORNURWQLH , EDUG]R JERNR $OH *LGHRQ PLOF]D 'ZD
NRU\WDU]HGDOHMJG\VL]DWU]\PDLZ\MPDSQLHZ\WU]\PDDP
7RGODWHJRHWDNG]LZQLHVLFDXMWDN"VS\WDDP
&R"*LGHRQZRVXSLHQLXVSRMU]DQDPQLH]QDGPDS\
.RPSOHWQD NDWDVWURID ] W\P PRLP FDRZDQLHP SUDZGD" 3UyERZDDP
]GXVLKLVWHU\F]Q\WRQZPRLPJRVLHDOHQLHGRNRFDPLVLXGDR-DGR
WHMSRU\WR]QDF]\WU]HEDSU]HFLHF]DVXLGRZLDGF]HQLD=ILOPyZQLHGD
VL ZV]\VWNLHJR QDXF]\ ZLHV]" , WR PQLH EROL NLHG\ PQLH RG VLHELH
RGVXZDV]
*LGHRQRSXFLPDSLVWRHNZLDWDMHJRODWDUNLSRZGURZDQD]LHPL
*ZHQQ\SRVXFKDM
:LHPVSLHV]\P\VLSU]HUZDDPPX$OHPXV]WR]VLHELHZ\U]XFL
:V]\VWNR E\RE\ OHSV]H RG WHJR RGVXZDQLD DOER G]ZRQLHQLD SR WDNVyZN
3RWUDIL]QLHNU\W\N1RZNDG\PUD]LHXSU]HMPLHVIRUPXRZDQ
&]DVDPLMHVWHQDSUDZG*LGHRQSRNUFLJRZSRWHPZ]LJERNL
ZGHFK .LHG\ PQLH FDXMHV] *ZHQGRO\Q 6KHSKHUG SRZLHG]LD MHVW WDN
MDNE\ NWR XVXZD PL ]LHPL VSRG QyJ 1LH PDP SRMFLD MDN WR URELV] DQL
JG]LH VL WHJR QDXF]\D -HOL WR E\ ILOP WR NRQLHF]QLH PXVLP\ JR UD]HP
REHMU]H=DPLONQDFKZLO&KFSU]H]WRSRZLHG]LHJG\PQLHFDXMHV]
QLHSUDJQMXQLF]HJRLQQHJRMDNW\ONRF]XFLLWU]\PDFLZUDPLRQDFK
&KROHUDMHVWHPZWRELHWDNVWUDV]QLH]DNRFKDQ\HF]XMVLMDNE\NWRPL
Z URGNX SU]HZUyFL NDQLVWHU ] EHQ]\Q L SRGSDOL $OH Z WHM FKZLOL QLH
PRHP\ PXVLP\ ]DFKRZD SU]\WRPQR XP\VX 3U]\QDMPQLHM MHGQR ]
QDV
6SRMU]HQLH MDNLH PL U]XFL RVWDWHF]QLH UR]ZLDR PRMH ZWSOLZRFL
*ZHQQ\ WR ZV]\VWNR PQLH SU]HUDD %H] FLHELH PRMH \FLH QLH PLDRE\ MX
VHQVX EH] FLHELH ZRODE\P XPU]H WX QD PLHMVFX JG\E\ PLDR FL VL FR
VWD&KFLDDPVLGRQLHJRXPLHFKQOHF]QDJOHSRF]XDPSRWQNOXFK
ZJDUGOH
*LGHRQMD]DF]DPDOHRQQLHGDPLGRNRF]\
1LH FKFLDE\P HE\ HE\ F]XD WR VDPR FR MD *ZHQQ\ %R KUDELD
PRHZ\NRU]\VWDWRXF]XFLHSU]HFLZQDP,Z\NRU]\VWD
-X]DSyQRV]HSQDP.RFKDPFL,WHQLHFKFEH]FLHELH\
*LGHRQZ\JOGDMDNE\PLDVL]DFKZLOUR]SDND&KZ\FLPQLH]DUN
WDNPRFQRHRPDRPLMHMQLH]JQLyW
3R]RVWDMHQDPW\ONRPLHQDG]LHMHKUDELDQLJG\SU]HQLJG\VLRW\P
QLHGRZLH
,HZNRFXSU]\MG]LHQDPGRJRZ\JHQLDOQ\SODQSRZLHG]LDDP$
WHUD]SU]HVWDVLJX]GUD0XVLP\VLVSLHV]\
.ZDGUDQVLDQLPLQXW\ZLFHMR]QDMPL*LGHRQ
.OF]DRERNFKURQRJUDIXQDNRFXSLNQLNRZ\PNWyU\UR]R\OLP\QDFH
SRURGNX +\GH 3DUNX QLHRSRGDO 6HUSHQWLQH *DOOHU\]MH]LRUHP L PRVWHPZ
SROX ZLG]HQLD &KR ]DSRZLDGD VL UyZQLH FXGRZQ\ ZLRVHQQ\ G]LH MDN
ZF]RUDME\RMHV]F]HSU]HUDOLZLH]LPQRDWUDZDE\V]F]DDRGURV\
0LMDOL QDV ELHJDF]H L VSDFHURZLF]H ] SVDPL .LOND RVyE ]HUNQR ]
FLHNDZRFLQDQDV]F]ZyUN
.ZDGUDQV WR ]D PDR SRZLHG]LDDP ]DSLQDMF VWHOD ]H PLHV]Q\PL
SRGXV]NDPLQDELRGUDFKG]LNLNWyUHPXPRMDVXNQLDNR\VDDVLMDNRNUW
ZRMHQQ\ L QLH ZORND VL SR ]LHPL 7R ZDQLH WHQ VWHOD E\ SU]\F]\Q GOD
NWyUHM G]L UDQR ]DPLDVW V]NROQHM WRUE\ PXVLDDP Z]L ZLHON WRUE
SRGUyQ$MHOLVLVSyQL"$OERZRJyOHQLHSU]\MG]LH"7HJRZVNU\WRFL
GXFKDEDDPVLQDMEDUG]LHM:RVLHPQDVW\PZLHNX]HJDUNLQDSHZQRQLH
FKRG]L\WDNGRNDGQLH
1RWREG]LHPLDSHFKDZDUNQ*LGHRQ$ZRJyOHWRMHVWSRURQLRQ\
SRP\V,WRDNXUDWG]LVLDM
:\MWNRZR PD UDFM ZWUFL OHQLZLH ;HPHULXV :VNRF]\ GR WRUE\
XR\JRZQDDSDFKL]LHZQV]HURNR2EXGFLHPQLHMDNMXZUyFLFLH
']LUDQR]GHF\GRZDQLH]DZF]HQLHZVWDHP
&KZLOSRWHP]WRUE\GRELHJDRPLDURZHFKUDSDQLH
/HVOLH RVWURQLH ZR\D PL VXNQL SU]H] JRZ 7R E\D WD Z QLHELHVNLH
NZLDWNL NWyU PLDDP QD VRELH SRGF]DV SLHUZV]HJR VSRWNDQLD ] KUDEL L
NWyUDRGWHMSRU\ZLVLDDZPRMHMV]DILH
7DVSUDZD]-DPHVHPQDSUDZGPRJDE\SRF]HND'ODQLHJRWREG]LHL
WDNWHQVDPG]LHLWDVDPDJRG]LQDQLH]DOHQLHRGWHJR]MDNLHJRF]DVXGR
QLHJRSU]HVNRF]\V]=DF]DPL]DSLQDPDHKDIWNLQDSOHFDFK
7RVDPRRGQRVLVLFK\EDGRWHMKLVWRULL]SU]HMFLHPOLVWX]DXZD\DP
7R WH ZFDOH QLH PXVLDR VL RGE\ G]LVLDM *LGHRQ PyJ VRELH VWU]HOL Z
SDS GRSLHUR ZH ZWRUHN DOER Z SU]\V]\P URNX Z VLHUSQLX Z\V]RE\ QD WR
VDPR-XSRPLMDMFIDNWHVSUDZ]DMDVLODG\7LOQH\
=DF]\QDPLVLNUFLZJRZLHNLHG\ XU]G]DFLHVRELHWDNLHG\VNXVMH
SRVNDU\VL5DSKDHO
&KFLDHPWRPLHSRSURVWX]JRZ\QLPSRQRZQLHVSRWNDP\VL]/XF\L
3DXOHPZ\MDQL
*LGHRQ1DSUDZGWDNWUXGQRWR]UR]XPLH"
$MDFKFPLH]JRZ\-DPHVDSRZLHG]LDDP-HOLQDPVLFRVWDQLH
GRU]XFLDPGUDPDW\F]Q\PJRVHPWRSU]\QDMPQLHMMHPXXUDWXMHP\\FLH
1DSUDZGFKFHFLH]QLNQLSRMDZLVLSU]\W\FKZV]\VWNLFKOXG]LDFK"
VS\WD 5DSKDHO 1LH VG]LFLH H MXWUR QDSLV] R W\P JD]HW\ D WHOHZL]MD
EG]LHFKFLDDSU]HSURZDG]L]ZDPLZ\ZLDG"
2MWDPRMWDP/HVOLHSRNUFLDJRZ-HVWHP\Z\VWDUF]DMFRGDOHNR
RG GURJL DZDV QLH EG]LH W\ONR SU]H] FKZLO *XSLR JDSL VL EGMHG\QLH
SV\
&KUDSDQLH;HPHULXVDQDFKZLO]PLHQLRF]VWRWOLZRFKURQRJUDIX
1LH ]DSRPQLMFLH W\ONR H QD SRZURWQ\ SU]HVNRN PXVLFLH VL XVWDZL
GRNDGQLH Z W\P VDP\P PLHMVFX Z NWyU\P Z\OGRZDOLFLH PyZLD GDOHM
/HVOLH=D]QDF]FLHVRELHWRPLHMVFHW\PLOLF]Q\PLEXFLNDPL:FLVQDPL
MHGHQ]EXWyZ5DSKDHODGRUNLLXPLHFKQDVLGRPQLHSURPLHQQLH$OH
WRIUDMGDQDSUDZG2GG]LFKFWRURELFRG]LHQQLH
$OH MD QLH SRZLHG]LD 5DSKDHO 6SRMU]D QD VZRMH VNDUSHWNL L
]GHSU\PRZDQ\SRUXV]\SDOFDPLDSRWHP]QRZXSRGQLyVZ]URNQDGURJ
1HUZ\PDPZVWU]SDFK:WHG\ZPHWU]HE\HPZLFLHSU]HNRQDQ\HNWR
QDV OHG]L7R E\RE\ QDZHW ORJLF]QH H 6WUDQLF\QDVDOL QD QDVNRJRNWR
D]L ]D QDPL NURN Z NURN $ MDN NWR WX SU]\MG]LH HE\ ]DEUD QDP
FKURQRJUDI WR QDZHW QLH EG PyJ JR SRU]GQLH NRSQ ER MHVWHP Z
VNDUSHWNDFK
2QPDMXFK\EDPDQLSU]HODGRZF]V]HSQDGRPQLH/HVOLH
6\V]DHP WR SRZLHG]LD 5DSKDHO WR QLH MHVW SUDZGD -D W\ONR
MHVWHPRVWURQ\
$MDQLHPRJXZLHU]\HQDSUDZGWRUREL*LGHRQ]DU]XFLVRELHQD
UDPLRQD SOHFDN /HVOLH Z NWyU\P VFKRZD WR FR E\R SRWU]HEQH GR SRGDQLD
V]F]HSLRQNL 7R MHVW ]DPDQLH ZV]\VWNLFK GZXQDVWX ]RW\FK ]DVDG QDUD]
&KRG*ZHQQ\W\SLHUZV]D
8NONDP RERN QLHJR L XPLHFKQDP VL 1LH FKFLD ZR\ VZRLFK
]LHORQ\FK FLXFKyZ FKR SUyERZDDP PX Z\WXPDF]\ H Z VZRLP
QRUPDOQ\P XEUDQLX QDSG]L -DPHVRZL VWUDFKD $OER FR JRUV]D -DPHV QLH
SRWUDNWXMHQDVSRZDQLH
']LNXM H URELV] WR GOD PQLH SRZLHG]LDDP L ZR\DP SDOHF GR
SU]HJUyGNLSRGUXELQHP
'REU]HMXGREU]HEXUNQ*LGHRQ
$ SRWHP MHJR WZDU] UR]P\D PL VL SU]HG RF]DPL L JG\ ]QRZX ]DF]DP
ZLG]LH Z\UDQLH NOF]DDP ZUyG PRNU\FK OLFL L FDHM PDV\ NDV]WDQyZ
6]\ENR ZVWDDP L SRR\DP EXW 5DSKDHOD Z PLHMVFX Z NWyU\P
Z\OGRZDDP
/DRMDN]FHEUDLZ]DVLJXZ]URNXQLHE\RQLNRJRSR]DZLHZLyUNNWyUD
E\VNDZLF]QLH ZGUDSDD VL QD NRURQ GU]HZD L SU]\JOGDD PL VL ]
]DFLHNDZLHQLHP
*LGHRQZ\OGRZDRERNPQLHLUR]HMU]DVLGRNRD
7DDD RGH]ZD VL Z\FLHUDMF VRELH NURSOH GHV]F]X ] WZDU]\
3RZLHG]LDE\PHWRLGHDOQDSRJRGDQDSU]HMDGNLNRQQHLQDV]F]HSLHQLD
=DF]DLP\VLWDPZW\FKNU]DNDFK]DSURSRQRZDDP7HUD]MDZ]LDP
*LGHRQD]DUNLSRFLJQDPJR]DVRE1DMH\VL
$OH W\ONR QD G]LHVL PLQXW IXNQ -HOL GR WHM SRU\ VL QLH ]MDZL
ZUDFDP\GRNDSFLD5DSKDHOD
7DNWDN]JRG]LDPVLV]\ENR
-X Z WDPW\FK F]DVDFK LVWQLD PRVW QDG ZVNLP RGFLQNLHP MH]LRUD FKR
Z\JOGD ]XSHQLH LQDF]HM QL WHQ NWyU\ ]QDDP 3R SODFX SU]HMHFKD ]
WXUNRWHP SRZy] $ ] GUXJLHM VWURQ\ NXVHP ]EOLD VL GR QDV VDPRWQ\
MHG]LHF1DVLZ\PNRQLX$MHGQDNPQLHSRVXFKD
7RRQ]DZRDDPL]DF]DPPDFKDUNDPLMDNRV]DODD-DPHV7X
MHVWHP
0RH SRVWDUDV] VL MHV]F]H QLHFR EDUG]LHM U]XFD Z RF]\" SDUVNQ
*LGHRQ
-DPHVZSDV]F]X]NLONRPDIDOEDQLDVW\PLSHOHU\QDPLLZWUyMJUDQLDVW\P
NDSHOXV]X]NWyUHJRURQGDVNDS\ZD\NURSOHGHV]F]X]DWU]\PDNRQLDNLOND
PHWUyZ RG QDV -HJR VSRMU]HQLH SRZGURZDR RG PRLFK SU]HPRF]RQ\FK
ZRVyZ Z Gy D GR UEND PRMHM VXNQL SRWHP ]D WDN VDPR ]OXVWURZD
*LGHRQD
+DQGOXMHV]NRPLSDQLH"VS\WDQLHXIQLHSRGF]DVJG\*LGHRQJU]HED
ZSOHFDNX/HVOLH
1LH RQ MHVW OHNDU]HP Z\MDQLDP : NDG\P UD]LH WDN MDNE\
:LG]LDDP H Z]URN -DPHVD ]DWU]\PD VL QD QDGUXNX QD SOHFDNX /HVOLH
+HOOR .LWW\ PXVW GLH 2FK -DPHV WDN VL FLHV] H SU]\V]HGH
Z\SDOLDP 3U]\ WHM SRJRG]LH L Z RJyOH :F]RUDM QD EDOX QLH Z\UD]LDP VL
FK\EDMDVQR&KRG]LRWRHFKFFLXFKURQLSU]HGFKRURENWyU]DUD]LV]
VLZSU]\V]\PURNXLQDNWyUQLHVWHW\XPU]HV]7RRVSDF]DUQDRVSDMDN
W\WRPyZLV]=DSRPQLDDPMDNVLGRNDGQLHQD]\ZDWDRGPLDQDNWyUVL
]DUD]LV] DOH WR QLHZDQH 'REUD ZLDGRPR MHVW WDND H PDP\ FR FR FL
RFDOL SU]HG W FKRURE 8PLHFKQDP VL GR QLHJR SURPLHQQLH 0XVLV]
W\ONR]VL]NRQLDLSRGZLQUNDZDP\FLWRGDP\
: WUDNFLH PRMHJR PRQRORJX RF]\ -DPHVD VWDZD\ VL FRUD] ZLNV]H L
ZLNV]H+HNWRUQDSUDZGZVSDQLD\VLZHNQHUZRZR]URELNURNZW\
7RQLHV\FKDQHSRZLHG]LD-DPHV.DHV]PLSDQLSU]\MGRSDUNX
HE\VSU]HGDPLMDNLSRGHMU]DQ\OHNLMHV]F]HEDUG]LHMSRGHMU]DQKLVWRUL"
$ WZyM WRZDU]\V] Z\JOGD ]XSHQLH MDN UR]EyMQLN L EDQG\WD 2GFK\OL
SDV]F]HE\P\PRJOL]REDF]\MHJRV]SDG2VWU]HJDPZDV
-HVWHPX]EURMRQ\LSRWUDILVLEURQL
*LGHRQZHVWFKQ
2FK-DPHVSRVXFKDMPQLH3RGHV]DPEOLHMLFKZ\FLDP+HNWRUD]D
ZRG]H&KFFLW\ONRSRPyFLQLHVWHW\QLHPDP]E\WZLHOHF]DVX$]DWHP
SURV]FL]VLGSRSURVWX]NRQLDL]GHMPLMSDV]F]
=FDSHZQRFLWHJRQLHXF]\QLRGSDU]REXU]HQLHP-DPHV1DV]
UR]PRZ XZDDP ]D VNRF]RQ = GURJL FXGDF]QD G]LHZF]\QR 0DP
QDG]LHMHWRE\RQDV]HRVWDWQLHVSRWNDQLH
'DOHM1DSUDZGVL]DPDFKQHE\]G]LHOLPQLHV]SLFUXW
$OHQLH]G\ER*LGHRQFKZ\FLJRLFLJQ]NRQLD
1LHPDP\F]DVXQDWDNLHJLHUNLZDUNQLZ\NUFL-DPHVRZLUFHQD
SOHFDFK
3RPRF\-DPHVZLVLMDNSLVNRU]=EyMH1DSDG
-DPHV 7R ZV]\VWNR W\ONR GOD WZRMHJR GREUD ]DSHZQLDP JR DOH RQ
]PLHU]\PQLHWDNLPVSRMU]HQLHPMDNE\PE\DGLDEHPZFLHORQ\P7\WHJR
QLHZLHV]DOHMHVWHP\SU]\MDFLyPLZPLHMVFXVNGSU]\E\ZDP,WREDUG]R
GREU\PLSU]\MDFLyPL
3RPRF\6]DOHF\1DSDGZROD-DPHVU]XFDMF+HNWRURZLUR]SDF]OLZH
VSRMU]HQLD
6LZHN QDMZ\UDQLHM MHGQDN QLH PLD RFKRW\ ]JU\ZD &]DUQHJR .VLFLD
=DPLDVW U]XFL VL QD QDV ERKDWHUVNR VFK\OL HE L ]DF] VSRNRMQLH VNXED
WUDZ1LHMHVWHPV]DORQDSUyERZDDPZ\MDQL-DPHVRZL-D
3R SURVWX VL SU]\PNQLM L ]DELHU] PX V]SDG ]EyMX *ZHQQ\
QLHFLHUSOLZLHZSDGPLZVRZR
*LGHRQ$SRWHPGDMPLODQFHWLDPSXN]SOHFDND
:]G\FKDMF]URELDPWRFRND]D0LDUDFMRF]HNLZDQLH]UR]XPLHQLD]H
VWURQ\-DPHVDE\R]XSHQLHEH]FHORZH
1R ZDUNQ *LGHRQ RWZLHUDMF DPSXN ]EDPL 2QD SRGHUQLH FL
JDUGRMHOLZFLJXQDMEOLV]\FKGZyFKPLQXWFKRE\VLUXV]\V]SDQLH&]\
WRMDVQH",QLHZDVL]QRZXZRDRSRPRF
6NLHURZDDPRVWU]HV]SDG\QDJDUGR-DPHVD
(KPWDNV]F]HU]HLQDF]HMWRVRELHZ\REUDDDP-DPHVXZLHU]PL-HOL
RPQLHFKRG]LPyJE\QDZLHNLVWUDV]\ZPRMHMV]NROH0yM%RHEG]LH
PLWDNEDUG]RFLHELHEUDNRZDR-HOLVLQLHP\OVSRW\NDP\VLG]LRVWDWQL
UD]]\QDS\Q\PLGRRF]X
-DPHVZ\JOGDWDNMDNE\]DFKZLOPLDRV]DOH
0RHFLH Z]L PRM VDNLHZN MHOL SRWU]HEXMHFLH SLHQLG]\ DOH GDUXMFLH
PL\FLHZ\V]HSWD
'REU]H MX GREU]H SRZLHG]LD *LGHRQ 5R]FK\OL REV]HUQ\ NRQLHU]
SDV]F]DLSU]\WNQ
-DPHVRZL GR V]\L VWU]\NDZN ]H V]F]HSLRQN -DPHV V\NQ FLFKR
SRF]XZV]\QDVNyU]HXNXFLH
&]\WHJRQRUPDOQLHQLHGDMHVLZUDPL"VS\WDDP
1RUPDOQLH QLH Z\NUFDP SU]\ W\P QLNRPX UN PUXNQ *LGHRQ D
-DPHV]QRZX]DV\F]D
*XSLH WR SRHJQDQLH SRZLHG]LDDP QLH PRJF SRZVWU]\PD
ZHVWFKQLHQLD :RODDE\P FL SU]\WXOL ]DPLDVW SU]\VWDZLD FL V]SDG GR
V]\L:V]NROHE\H]DZV]HPRLPQDMOHSV]\PSU]\MDFLHOHP=DUD]SR/HVOLH
3LHUZV]D ]D VS\QD PL SR SROLF]NX %H] FLHELH QLJG\ QLH SRMDE\P
UyQLF\ PLG]\ :DV] :\VRNRFL :DV] .UyOHZVN 0RFL L :DV]
:LHOPRQRFLL
*RWRZH R]QDMPL *LGHRQ L SXFL -DPHVD NWyU\ ]DWRF]\ VL NLOND
NURNyZ GR W\X L FKZ\FL ]D V]\M 3RZLQQR VL WR ZDFLZLH ]DNOHL
SODVWUHPDOHEH]SODVWUDWHPRHE\7U]HEDW\ONRXZDDHE\QLHGRVWD
VL WDP EUXG *LGHRQZ\M PL V]SDG ] UNL $WHUD]ZVLDGDM SDQLH QD
VZHJRNRQLDLRGMHGVWGQLHRJOGDMFVL]DVLHELH]UR]XPLDQR"
-DPHV VNLQ JRZ -HJR RF]\ ZFL MHV]F]H E\\ Z\WU]HV]F]RQH ]H
VWUDFKXMDNE\QLHPyJXZLHU]\HMXMHVWSRZV]\VWNLP
'R ZLG]HQLD FKOLSQDP %\ZDM -DPHVLH $XJXFLH 3HUHJULQ
3LPSOHERWWRP%\HQDMOHSV]\PGXFKHPMDNLHJRNLHG\NROZLHN]QDDP
1DFKZLHMQ\FKQRJDFKG\V]FFLNR-DPHVSRGV]HGGRNRQLDL]UF]QLH
JRGRVLDG
6]SDGDEG]LHOHDDSRGW\PNDV]WDQRZFHPMHOL]HFKFHV]MRG]\VND
SRZLHG]LDMHV]F]H
*LGHRQDOH-DPHVMXRVWURVSLNRQLD
2GSURZDG]DDPLFKZ]URNLHPD]QLNQOLZUyGGU]HZ
=DGRZRORQD" VS\WD *LGHRQ ]ELHUDMF QDV]H PDQDWNL 2WDUDP ]\ ]
WZDU]\LXPLHFKQDPVLGRQLHJR
']LNXM)DMQLHPLHFKRSDNDVWXGHQWDPHG\F\Q\*LGHRQZ\V]F]HU]\
]E\ZXPLHFKX
$OH SU]\VLJDP H WR E\R PRMH RVWDWQLH V]F]HSLHQLH SU]HFLZ RVSLH
3DFMHQFLVWDF\QLHZG]LF]QL
5R]G]LD
6WDU\ GRGDM JD]X ]DZRD ;HPHULXV 1DGFKRG]L F]DV RVWDWHF]QHM
UR]JU\ZNL]W\PRWUHP
6LHG]LD QD PRLFK NRODQDFK MD ]D VLHG]LDDP QD IRWHOX SDVDHUD Z
PLQLFRRSHU]H*LGHRQDSU]HFLVNDMFHJRVLSU]H]ZF]HVQRSRSRXGQLRZHNRUNL
QD6WUDQG]LH
=DPNQLM VL V]HSQDP GR ;HPHULXVD -HOL R PQLH FKRG]L KUDELD
PRHVRELHSRF]HNDMHV]F]HFDZLHF]QR
3URV]"*LGHRQVSRMU]DQDPQLHS\WDMFR
1LF QLF :\MU]DDP SU]H] RNQR *LGHRQLH SRZLHG] PL QDSUDZG
P\OLV]HWRFRQDPSU]\V]RGRJRZ\Z\VWDUF]\"0RMDSRUDQQDHXIRULD
]QLNDLXVWSLDPLHMVFDQDWUWQHPXONRZLSRGNWyUHJRZS\ZHPWU]VDP
VLMDNRVLND
*LGHRQZ]UXV]\UDPLRQDPL
7DN F]\ RZDN QDV] SODQ MHVW OHSV]\ QL WHQ MDN JR QD]ZDD RJyOQ\
]DU\VG]LDDQLD]G]LVLHMV]HJRSRUDQND
7RQLHMDJRWDNQD]ZDDPW\ONR/HVOLHVSURVWRZDDP
3U]H] NLOND FKZLO PLOF]HOLP\ SRJUHQL Z P\ODFK 'RVRZQLH F]XOLP\
MHV]F]H Z NRFLDFK QDV]H VSRWNDQLH ] /XF\ L 3DXOHP 7R H SU]HVNRNL Z
F]DVLH PRJ E\ WDN PF]FH XZLDGRPLDP VRELH GRSLHUR ZWHG\ JG\ Z
GURG]HSRZURWQHMZSDGOLP\ZVDPURGHNSUyE\FKyUXNRFLHOQHJRLFLJDQL
SU]H] FKPDU SLV]F]F\FK VLHGHPQDVWROHWQLFK VRSUDQLVWHN PXVLHOLP\
VDOZRZDVLXFLHF]N
3U]\QDMPQLHMMHGQDNE\OLP\WHUD]SU]\JRWRZDQLQDVSRWNDQLH]KUDELGH
6DLQW *HUPDLQ 7R /XF\ QDSURZDG]LD QDV QD RVWDWHF]Q\ SRP\V L E\ RQ
UyZQLHSRZRGHPPRMHJRONX
&KRSF]H -HG MDN F]RZLHN ]DVNU]HF]D ;HPHULXV L ]DVRQL VRELH
SD]XUDPLRF]\7HZLDWDE\\FDNLHPDOHWRFDNLHPF]HUZRQH
*LGHRQGRGDJD]XLZ\PXVLSLHUZV]HVWZRQDWDNVyZFHQLPVNUFLOLP\
ZSUDZRZNLHUXQNXNZDWHU\JyZQHM6WUDQLNyZ&KZLOSyQLHM]SLVNLHP
RSRQ]DKDPRZDQDSDUNLQJX=ZUyFLVLZPRMVWURQLSRR\PLUFHQD
UDPLRQDFK
QLH
]REDF]\OLP\
)DOND
DQL
SR]RVWD\FK
6WUDQLNyZ
SUDZGRSRGREQLHVLHG]LHOLUD]HPZ
6PRF]HM6DOLLSLOL]D]RWH]DVDG\DOERURELOLWRFR]Z\NOHUREL6WUDQLF\
7\ONRSDQL-HQNLQV SU]HELHJDSU]H]NRU\WDU]]JUXE\PVHJUHJDWRUHPLWR
ZQLHG]LHOLSRPDFKDDGRQDV
3DQLH*HRUJHMDNEU]PLLQVWUXNFMHQDG]LVLDM"VS\WD*LGHRQ&]\V
MDNLHV]F]HJy\NWyUHPXVLP\XZ]JOGQL"
1R Fy GOD KUDELHJR PLQR RG EDOX W\OH VDPR F]DVX LOH GOD ZDV WR
]QDF]\GZDGQLREMDQLRFKRF]RSDQ*HRUJH,QVWUXNFMH]MHJROLVWX]EL\
QDV QLHFR ] WURSX =JRGQLH ] QLPL WZRMDZL]\WD X QLHJR *LGHRQLH PD WUZD
]DOHGZLHSLWQDFLHPLQXWSRGF]DVJG\*ZHQGRO\QVSG]L]KUDELWU]\LSy
JRG]LQ\ 3RGHMU]HZDP\ MHGQDN H ]RVWDQ FL SRZLHU]RQH LQQH ]DGDQLD QD
NWyU\FKZ\NRQDQLHEG]LHV]SRWU]HERZDVZRMHJRSU]\G]LDXF]DVXSRQLHZD
QDSLVD QDP MDVQR E\FLH SU]HGWHP QLH SRGGDZDOL VL HODSVML =DPLON QD
FKZLOLVSRMU]DSU]H]RNQRQDNRFLy7HPSLHNWyU\E\RVWGEDUG]RGREU]H
ZLGD = MHJR DOX]ML QLH ]GRDOLP\ ]E\W ZLHOH Z\F]\WD DOH QDMZ\UDQLHM
KUDELD MHVW SHZLHQ H ]DPNQLFLH NUJX NUZL ZNUyWFH QDVWSL 0DP\ E\
ZV]\VF\ZJRWRZRFLWDNQDSLVD
2UDQ\SRZLHG]LD;HPHULXV
-D WH SRP\ODDP R UDQ\ L U]XFLDP *LGHRQRZL V]\ENLH VSRMU]HQLH
:\JOGDR QD WR H KUDELD OLF]\ VL ] QLHSRZRG]HQLHP ]DSODQRZDQHM
ZDFLZLH QD ZF]RUDM DNFML V]DILU L F]DUQ\ WXUPDOLQ , H RG SRF]WNX PLD
LQQ\SODQ
%\PRHEDUG]LHMJHQLDOQ\QLQDV]
0yMQDWUWQ\ONSU]HURG]LVLZEODG\VWUDFK:L]MDSU]HE\ZDQLD]KUDEL
VDPQDVDPVSUDZLDHQDUDPLRQDFKSRMDZLDPLVLJVLDVNyUND*LGHRQ
MDNE\F]\WDZPRLFKP\ODFK]DWU]\PDVLLSU]\FLJQPQLHGRVLHELHQLH
]ZUDFDMFXZDJLQDSDQD*HRUJH
D
:V]\VWNREG]LHGREU]HV]HSQPLGRXFKD1LH]DSRPLQDMHQLFQLH
PRHFL]UREL,GRSyNLWHJRQLHZLHMHVWHEH]SLHF]QD
8F]HSLDP VL JR PRFQR QLF]\P PDSND NDSXF\QND 3DQ *HRUJH
RGFKU]NQ
1DZLDVHP PyZLF FLHV] VL H ]QRZX VL OXELFLH SRZLHG]LD 3U]H]
MHJRWZDU]SU]HPNQV]HOPRZVNLXPLHV]HN$OHWHUD]PXVLP\L
8ZDDM QD QL W\ EDUDQLD JRZR XV\V]DDP MHV]F]H ZU]DVN
;HPHULXVDDSRWHP]QDOD]DPVLMXZURNX
SDPLWDFR]QDV]HJRRVWDWQLHJRVSRWNDQLDQDMZ\UDQLHMQLHPLD]DPLDUX
SU]HSUDV]D]DVZRMH]DFKRZDQLH
+UDELD ]DNRF]\ OHNWXU ]PLHU]\ PQLH EDGDZF]\P Z]URNLHP L VNLQ
JRZ
0DJL NUXND REGDU]RQ\ *'XU NUJ ]DP\ND SU]H] GZXQDVWX
XWZRU]RQ\ -DNH XGDR FL VL XM EH]Z]JOGQHM V]SDG]LH ORUGD $ODVWDLUD"
&]\PRHMHPXVLWRZV]\VWNRW\ONR]GDZDR"
5]HF]\ZLFLH ]UDQL *ZHQGRO\Q SRWZLHUG]L *LGHRQ DMD VL ]G]LZLDP
H MHJR JRV EU]PL WDN VSRNRMQLH L SU]\MDQLH $OH WR E\R W\ONR QLHJURQH
]DGUDSDQLHQDSUDZGPLDDV]F]FLH
3U]\NUR PL H ]QDOHOLFLH VL Z WDNLHM V\WXDFML SRZLHG]LD KUDELD
2ELHFDHPHQLHVSDGQLHZDPZRV]JRZ\D]UHJX\GRWU]\PXMRELHWQLF
/HF] PyM SU]\MDFLHO 0LUR WDPWHJR ZLHF]RUX QLHFR ]DQLHGED VZRMH RERZL]NL
QLHSUDZGD 0LUR" &R PL SR UD] NROHMQ\ XZLDGRPLR H F]DVHP ]D EDUG]R
SROHJDP QD LQQ\FK *G\E\ XURF]D ODG\ /DYLQLD GR PQLH QLH SU]\V]D PyM
3LHUZV]\
6HNUHWDU]SHZQLHRFNQE\VL]HVZHJRRPGOHQLDL]ZLDDORUG$ODVWDLU
Z\NUZDZLE\VLZVDPRWQRFL
7DXURF]DDG\/DYLQLDQDMSLHUZQDV]GUDG]LDZ\UZDRPLVL2QD
+UDELDSRGQLyVUN
']LHFNRMDWRZV]\VWNRZLHP$OFRWWPLDMHV]F]HVSRVREQRE\Z\]QD
VZRMHJU]HFK\
5DNRF]\Z\EXFKQPLHFKHP
,$ODVWDLUPLDQDPMHV]F]HZLHOHGRSRZLHG]HQLDQDZHWMHOLSRGNRQLHF
PyZL MX WURFK QLHZ\UDQLH SUDZGD 0LUR" +UDELD XPLHFKQ VL
QLHSU]\MHPQLH$OHSRUR]PDZLDP\RW\PNLHG\LQG]LHMG]LQLHPDP\ZLHOH
F]DVX3RGQLyVOLVW7HUD]JG\SUDZG]LZHSRFKRG]HQLH
*ZHQGRO\Q]RVWDRZ\MDQLRQHSU]HNRQDQLHMHMURG]LFyZE\GDOLNUHZQLH
SRZLQQRE\WUXGQH
0DPQDG]LHMHGRNDGQLHSU]HVWU]HJDOLFLHZV]\VWNLFKPRLFK]DOHFH
*LGHRQ VNLQ JRZ -HJR WZDU] E\D EODGD ] QDSLFLD 6WDUD VL QLH
SDWU]H QD PQLH $ SU]HFLH GR WHM SRU\ ZV]\VWNR V]R WDN MDN VRELH WR
Z\REUDDOLP\:NDG\PUD]LH]JUXEV]D
2SHUDFMD F]DUQ\ WXUPDOLQ L V]DILU RGEG]LH VL MHV]F]H G]L -HOL WHQ
]HJDU QD FLDQLH GREU]H FKRG]L ]D NLOND PLQXW SU]HVNRF] ] SRZURWHP GR
URNX:V]\VWNRMHVWSU]\JRWRZDQHE\VWDPWGRGQDOH3DXODL/XF\
ZLHWQLH SRZLHG]LD ] ]DGRZROHQLHP KUDELD Z\M ] NLHV]HQL VXUGXWD
NRSHUWLSRGDM
*LGHRQRZL 7X Z\MDQLHP Z ]DU\VDFK PyM SODQ DGHQ VSRUyG PRLFK
6WUDQLNyZZSU]\V]RFLQLHSRZLQLHQZSDQDSRP\VE\ZHMFLZGURJ
3RGV]HG GR NRPLQND L SU]H] FKZLOZ ]DP\OHQLXZSDWU\ZD VLZ RJLH
3RWHP VL RGZUyFL -HJR RF]\ U]XFD\ LVNU\ VSRQDGRUOHJR QRVD L QDJOH FD\
SRNyMZ\GDVLZ\SHQLRQ\MHJRREHFQRFL
3RGQLyVUDPLRQD
']L MHV]F]H VSHQL VL ZV]\VWNLH SU]HSRZLHGQLH ']L MHV]F]H OXG]NRFL
EG]LHGDQ\OHNRQLH]QDQHMGRWGVLOHG]LDDQLD]DZRDSRF]\P]DPLONL
VSRMU]DQDQDVZRF]HNLZDQLXQDDSODX]
=DVWDQDZLDDP VL SU]H] VHNXQG F]\ QLH Z\GXVL ] VLHELH SHQHJR
SRG]LZXRMDFLDOER
VXSHU DOH DNXUDW QLH]E\W Z\VRNR RFHQLDDP VZyM NXQV]W DNWRUVNL
*LGHRQW\ONRSU]\JOGDPXVLEH]VRZD5DNRF]\]DE\QDW\OHEH]F]HOQ\
E\ZWHMXURF]\VWHMFKZLOLOHNNREHNQ+UDELDFPRNQSRLU\WRZDQ\
1RZLFGRGDSU]HFLJOHMDNVG]ZV]\VWNRMX]RVWDRSRZLHG]LDQH
3RGV]HG GR PQLH L SRR\ PL UN QD UDPLHQLX = WUXGHP VL
SRZVWU]\PDDP HE\ MHM QLH VWU]VQ MDN NLHG\ WDUDQWXOL 0\ RERMH
GURJLH G]LHFNR F]\P VRELH ]DMPLHP\ WHQ F]DV SUDZGD" &]XDP MDNE\
PQLH REOHSLD VZ\P JRVHP 1D SHZQR UR]XPLHV] H EG]LHV] PXVLDD
GRWU]\PDPLWRZDU]\VWZDGXHMQLWHQPRG]LHQLHF
6NLQDP JRZ ]DGDMF VRELH MHGQRF]HQLH S\WDQLH F]\ KUDELD QLH
]UHZLGRZDW\PF]DVHPVZRMHMRSLQLLRNRELHWDFK-HOL]DNDGDHZV]\VWNR
UR]XPLHPWRFK\EDQLHPRJDPE\DWDNJXSLDSUDZGD"
: NRFX QDV] PRG\ *LGHRQ FLJQ KUDELD ZDGF]\P WRQHP PXVL
ZLDU\JRGQLHSU]HNRQDF]DUQ\WXUPDOLQLMHJRV]DILUHLFKFyUNDXPU]HMHOL
QDW\FKPLDVWQLHGDG]PXVZRMHMNUZL
5R]HPLD VL FLFKR L ]ZUyFL VL GR *LGHRQD 0RHV] VSRNRMQLH QLHFR
SRGNRORU\]RZD RSRZLDGDMF LP R VDERFL 5DNRF]HJR GR NUZL G]LHZLF L R
*G\ VL RFNQDP SU]HV]R PL SU]H] P\O H E\ PRH W\P UD]HP
U]HF]\ZLFLHXPDUDP
:DFLZLH QLH Z\REUDDDP VRELH DQLRyZ MDNR PD\FK QDJLFK FKRSFyZ
NWyU]\ QLH PLHOL QLF ZLFHM GR ]DSUH]HQWRZDQLD QL JXSNRZDWH XPLHV]NL L
WXVWHFLDNDWDNMDNWHWXWDMHJ]HPSODU]H]KDUIDPL1DZLDVHPPyZLFE\\
MHG\QLHZ\PDORZDQHQDVXILFLH=SRZURWHP]DPNQDPRF]\
*DUGRPLDDPWDNVXFKHHQLHPDOQLHPRJDPSU]HNQOLQ\/HDDP
QD F]\P WZDUG\P L F]XDP VL WDN QLHVNRF]HQLH Z\F]HUSDQD MDNE\P MX
QLJG\QLHPLDDVLSRUXV]\
*G]LH ]D OHZ\P XFKHP XV\V]DDP QXFHQLH 7R E\ PRW\Z DREQ\ ]H
=PLHU]FKX ERJyZ XOXELRQHM RSHU\ ODG\ $ULVW\ 7HQ JRV NWyU\ SLHZD WR ]
QLHVWRVRZQILJODUQRFLZ\GDPLVLG]LZQLH]QDMRP\DOHQLHSRWUDILDPJR
VNRMDU]\ ] NRQNUHWQ RVRE 1LH PRJDP WH ]REDF]\ GR NRJR QDOHD ER
SRSURVWXQLHSRWUDILDPRWZRU]\RF]X-DNH-DNHRGH]ZDVLJRV1LH
SU]\V]RE\ PL GR JRZ\ H WR DNXUDW W\ ZSDGQLHV] QD PyM WURS $OH QDZHW
WZRMHPHG\F]QHPGURFLMXWXWDMQLHSRPRJ*RV]DPLDVLFLFKR%R
JG\ VL REXG]LV] EG MX GDZQR ]D VLyGP JyU ]D VLyGP U]HN :
%UD]\OLL R WHM SRU]H URNX MHVW FDNLHP SU]\MHPQLH SRZLQLHQH WR ZLHG]LH
0LHV]NDHP WDP RG URNX $UJHQW\QD L &KLOH WDNH PDM ZLHOH GR
]DRIHURZDQLD
*RV ]DPLON QD FKZLO DE\ ]DJZL]GD NLOND WDNWyZ ] :DJQHUD &LJQLH
PQLH]SRZURWHPGR
$PHU\NL 3RXGQLRZHM 1DZLDVHP PyZLF %UD]\OLD PD QDMOHSV]\FK QD
ZLHFLH FKLUXUJyZ SODVW\F]Q\FK 8ZROQLOL PQLH RG W\FK XFLOLZLH
RSDGDMF\FK SRZLHN KDF]\NRZDWHJR QRVD L FRIQLWHJR SRGEUyGND , GODWHJR
QDV]F]FLHQLH]E\WSU]\SRPLQDPZDVQ\SRUWUHW
=DVZG]LDR PQLH Z RGUWZLD\FK UNDFK L QRJDFK =GRDDP VL MHGQDN
RSDQRZD&K\EDE\RE\GODPQLHOHSLHMJG\E\PVLQLHSRUXV]\D
*RV]DPLDVL
1DZHWJG\E\NWRPQLHWXZOR\UR]SR]QDPyZLGDOHM]DRVLH
DGHQ ] ZDV QLH PLDE\ QD W\OH UR]XPX E\ Z\FLJQ ZDFLZH ZQLRVNL
$EVWUDKXMFRGWHJRQLH]QRQHJR/XFDVD
0RQWURVH
D 1LHZLHOH EUDNRZDR D E\ PQLH ]GHPDVNRZD 2FK -DNH
QDZHW W\ VL QLH ]RULHQWRZDH H WR QLH E\ ]DZD VHUFD OHF] ]DG]LDD\
SHUILGQH PHWRG\ 0DUOH\D VHQLRUD :\ OXG]LH ZLG]LFLH W\ONR WR FR FKFHFLH
]REDF]\
-HVWH SRG\P JXSLP F]RZLHNLHP ]DSLV]F]D JG]LH ]D PQ
Z\VWUDV]RQ\JRV0D\5REHUW
6NU]\ZG]LH PRMHJR WDW 3RF]XDP FKRGQ\ SRZLHZ &R ]URELH
*ZHQGRO\Q"
1RZDQLHFR"2WRMHVWS\WDQLH,GODF]HJRQLHV\FKD*LGHRQD"
5R]OHJVLV]F]NRWZLHUDQHJR]DPNDZDOL]NL
=DZV]HJRWyZE\VX\VSUDZLH6WUDQLNyZNRE\VLXPLD3HQH
OHNFHZDHQLDSDUVNQLFLH7DNMDNE\OXG]NRQDSUDZGQDWR]DVX\D:
NDG\PUD]LHQLHEG]LHV]MXPyJSRPyF*ZHQGRO\Q*RVSU]HPLHV]F]D
VLSRVDOLZJyULZGyLSRZROL]DF]\QDRPLZLWDGRNRJRQDOH\FKR
QDGDO QLH PRJDP Z WR XZLHU]\ -HVW PDUWZD MDN WH V]F]XU\ Z
ODERUDWRULXPNWyUHNURLH*RV]DPLDVLFLFKR1DZLDVHPPyZLFWR
MHVWSRUyZQDQLHDQLHSU]HQRQLD
2WZRU]\DPRF]\LSRGQLRVDPJRZ
$OH RF]\ZLFLH PRQD E\ JR X\ MDNR V\PEROX QLHSUDZGD SDQLH
:KLWPDQ"VS\WDDPLQDW\FKPLDVWSRDRZDDPHVLXMDZQLDP
$QL ODGX *LGHRQD 7\ONR QD SRGRG]H OHD QLHSU]\WRPQ\ GRNWRU :KLWH
WXRERNPQLH]WZDU]V]DUMDNSRSLy0D\5REHUWNXFD]DWURVNDQ\SU]\
MHJRJRZLH
*ZHQGRO\Q
7U]HED SU]\]QD SDQX :KLWPDQRZL H QLH ZU]DVQ ]H VWUDFKX $QL QLH
RND]D ]GHQHUZRZDQLD 6WD SRG SRUWUHWHP KUDELHJR GH 6DLQW *HUPDLQ ]
GRQLQDUF]FHZDOL]NLQDNyNDFK]SU]\WURF]RQ\PODSWRSHPLJDSLVLQD
PQLH 0LD QD VRELH HOHJDQFNL V]DU\ SDV]F] L MHGZDEQ\ V]DO 2NXODU\
SU]HFLZVRQHF]QH QDVXQ VRELH QD ZRV\ MDN MDNL %UDG 3LWW QD SOD\ 1LH
E\DQLWURFKSRGREQ\GRKUDELHJRQDSRUWUHFLH
8VLDGDP]QDMZLNV]JRGQRFLQDMDNE\RPQLHVWDEXILDVWDVXNQLD
QLHFRXWUXGQLDDVSUDZLVSRVWU]HJDPHOHQDELXUNX
3DQ:KLWPDQFPRNQVSRMU]DQD]HJDUHNLSXFLUF]NZDOL]NL&y
EDUG]RWRLU\WXMFHSRZLHG]LD
1LHSRWUDILDPSRZVWU]\PD]ROLZHJRXPLHFKX
1LHSUDZGD"Z\FHG]LDP
3RGV]HGEOLHML]NLHV]HQLSDV]F]DZ\F]DURZDPD\F]DUQ\SLVWROHW
-DNWRVLPRJRVWD"&]\E\5DNRF]\SU]\U]G]LQLHGRVLOQ\QDSyM"
3RNUFLDPJRZ
3DQ:KLWPDQ]PDUV]F]\F]RRLZ\PLHU]\SLVWROHWZPRMSLHU
&KFLDDPVLUR]HPLDDOHZ\V]R]WHJRMHG\QLH]DONQLRQHSDUVNQLFLH
&KFH SDQ VSUyERZD SR UD] NROHMQ\" VS\WDDP PLPR WR XVLXMF
RGZDQLHVSRMU]HPXZRF]\
&]\SRMSDQZUHV]FLHHQLHPRHPLSDQQLF]UREL"
+D1DV]SODQVLSRZLyGLWRMHV]F]HMDN*G\E\W\ONR]MDZLVL*LGHRQ
QDSHZQRSRF]XDE\PVL]QDF]QLHOHSLHM
3DQ :KLWPDQ SRWDU JDGNR Z\JRORQ\ SRGEUyGHN SU]\JOGDMF PL VL Z
]DP\OHQLX3RWHPVFKRZDSLVWROHW
1LH RGSDU VZRLP DJRGQ\P WRQHP ]DXIDQHJR QDXF]\FLHOD L QDJOH
GRVWU]HJDPZQLPFR]HVWDUHJRKUDELHJR7RE\FK\EDE\REH]FHORZH
=QRZX FPRNQ *G]LH SRSHQLHP EG Z P\OHQLX 0DJLD NUXND &y
]DQLHVSUDZLHGOLZRHZRRQRFLQLHPLHUWHOQRMXGRNR\VNL
:DQLHWRELH$OHWRPDVHQVZWRELH]ELHJDMVLRELHOLQLHPyZLGR
VLHELH
'RNWRU :KLWH ZHVWFKQ FLFKR 6SRMU]DDP QD QLHJR DOH MHJR WZDU] Z
GDOV]\PFLJXE\DV]DUDMDNSRSLy0D\5REHUW]HUZDVLQDUyZQHQRJL
8ZDDM *ZHQGRO\Q SRZLHG]LD ]DONQLRQ\P JRVHP 7HQ SRG\
F]RZLHNQDSHZQRPD]H]DPLDU\
7HVLWHJRREDZLDDP$OHMDNLH"
-HOL ] PLRFL VDPD ORV SU]\ZRD L Z SRRG]H WHM PLRFL ]JLQLH
]DF\WRZDFLFKRSDQ
:KLWPDQ'ODF]HJRRGUD]XWHJRQLHSRMHP"1RFyMHV]F]HQLHMHVW]D
SyQR =UREL SDU NURNyZ Z PRM VWURQ Z\M ] NLHV]HQL PDH VUHEUQH
SXGHNRLSRR\RERNPQLHQDVWROH
WDNLHMUDQJL$WXWDMPXVLDHPXF]\MDNLHPDHWSHG]LHFLDNLLGRWHJRSL
VLZHZDVQHMOR\RGQRZLFMXV]DDGR.UJX
:HZQWU]QHJR :V]\VWNLH WH ODWD RG WZRLFK QDURG]LQ E\\ GOD PQLH
VWUDV]QH 1LH GODWHJR H PRMH FLDR ]DF]R VL VWDU]H L VWRSQLRZR
Z\ND]\ZDR OHNNLH ODG\ UR]SDGX Z W\P PLHMVFX XPLHFKQ VL
]DUR]XPLDOH OHF] GODWHJR H PRQDPQLH E\R ]UDQL 3U]H] FDH VWXOHFLD
\HPEH]VWUDFKX
0DV]HURZDHP SU]H] SROD ELWZ\ SRG JUDGHP NXO QDUDDHP VL QD
ZV]HONLH QLHEH]SLHF]HVWZD ZLHG]F H QLF QLH PRH PL VL VWD $ WHUD]"
%\OH ZLUXV PyJE\ PQLH XNDWUXSL NDG\ SU]HNOW\ DXWREXV SU]HMHFKD
SLHUZV]DOHSV]DFHJDVSDQDJRZ
: W\P PRPHQFLH XV\V]DDP KDDV L SU]H] FLDQ ZOHFLD ] LPSHWHP
;HPHULXV:\OGRZDQDELXUNXWXRERNPQLH
*G]LHVFLSU]HNOFL6WUDQLF\"]DZRDDPGRQLHJRQLHGEDMFRWRH
KUDELDPQLHV\V]\
$OHRQQDMZ\UDQLHMZ]LWRS\WDQLHGRVLHELH
1LHPRJFLWHUD]SRPyFSRZLHG]LD
2QQLHVWHW\PDUDFM=GHQHUZRZDQ\;HPHULXV]DWU]HSRWDVNU]\GDPL
7HJXSNLUD]HP]
*LGHRQHP ]DPNQ\ NUJ NUZL 3RWHP SDQ .HYLQ 'UHVVPDQZ]L IDMWDS
0DUOH\DMDNR]DNDGQLNDLJURFSLVWROHWHP]PXVL6WUDQLNyZHE\SU]HV]OL
GRSRNRMX]FKURQRJUDIHP6WDPWHUD]]DPNQLFLLJRQRODPHQWXM
+UDELDSRWU]VQJRZ
1LHWRQLHE\RGODPQLH\FLH,PXVLVLWRZUHV]FLHVNRF]\&yWDND
PDDG]LHZF]\QNDMDNW\PRH]DRIHURZDZLDWX"-D]DPDPMHV]F]HZLHOH
SODQyZ:LHONLFKSODQyZ
2GZUyMHJRXZDJ]DZRD;HPHULXV3RSURVWXRGZUyMHJRXZDJ
RERMWQLHMDN
$MDNZDFLZLHSU]H]FD\WHQF]DVSRGGDZDVLSDQHODSVML"VS\WDDP
V]\ENR 7R FK\ED PXVLDR E\ VWUDV]QLH QLHSU]\MHPQH WDN Z
QLHNRQWURORZDQ\VSRVyESU]HVNDNLZDZF]DVLH
5R]HPLDVL
(ODSVML"3KL1DWXUDOQ\F]DVPRMHJR\FLDVLVNRF]\:FKZLOLZNWyUHM
PLDE\PXPU]HVNRF]\RVLWRXFLOLZHVNDNDQLHZF]DVLH
$PyMG]LDGHN"&]\MHJRWHSDQ]DEL",XNUDGMHJRSDPLWQLNL"
7HUD] GR RF]X QDS\Q\ PL ,]\ %LHGQ\ G]LDGHN 7DN QLHZLHOH EUDNRZDR
HE\ ]GHPDVNRZD FD\ WHQ VSLVHN +UDELD VNLQ JRZ 3U]HELHJHJR
/XFDVD 0RQWURVH
D PXVLHOLP\ XFLV]\ =DM VL W\P 0DUOH\ VHQLRU
3RWRPNRZLH EDURQD 5DNRF]HJR VX\OL PL ZLHUQLH SU]H] FDH ZLHNL W\ONR
RVWDWQLF]RQHNWHJRURGXPQLHUR]F]DURZD7HQSHGDQW\F]Q\UXG\PDU]\FLHO
QLH RG]LHG]LF]\ QLF]HJR ] GXFKD F]DUQHJR ODPSDUWD =QRZX VSRMU]D QD
]HJDUHNDSRWHPZ\F]HNXMFRSRSDWU]\QDIRWHOHSRGUXJLHMVWURQLH1RWR
MX ]D FKZLO -XOLR 1DMZ\UDQLHM FKFHV] XMU]H VZHJR 5RPHD OHFHJR Z
NDX\ NUZL 2GEH]SLHF]\ SLVWROHW 1DSUDZG V]NRGD /XELHP WHJR
FKRSFD1DSHZQRPLDSRWHQFMD
3URV] Z\V]HSWDDP RVWDWQL UD] DOH Z W\P PRPHQFLH *LGHRQ OHNNR
SRFK\ORQ\Z\OGRZDRERNGU]ZL
1DZHWQLHPLDF]DVXHE\VLFDNLHPZ\SURVWRZDNLHG\SDQ:KLWPDQ
VWU]HOL,MHV]F]HUD],MHV]F]HLMHV]F]HDZ\VWU]HODFD\PDJD]\QHN
.XOH ] RJXV]DMF\P KXNLHP SU]HOHFLD\ SU]H] SRNyM WUDILDMF *LGHRQD Z
SLHULZEU]XFK
6SRMU]HQLH MHJR V]HURNR RWZDUW\FK ]LHORQ\FK RF]X EG]LR SR SRNRMX D
WUDILRQDPQLH
:\NU]\NQDPMHJRLPL
-DN Z ]ZROQLRQ\P WHPSLH RVXQ VL SR GU]ZLDFK ]RVWDZLDMF V]HURNL
NUZDZ\ODG3RWHPG]LZDF]QLHSRZ\NUFDQ\]QLHUXFKRPLDQDSRGRG]H
*LGHRQ 1LH .U]\F]F U]XFLDP VL QD ]LHPL RERN QLHJR L REMDP
EH]ZDGQHFLDR
2ERHERHERH ]DZRD ;HPHULXV LZ\SOXZRG3URV] FL SRZLHG]
PL H WR MHVW F] ZDV]HJR SODQX : NDG\P UD]LH RQ QD SHZQR QLH PD
NDPL]HONLNXORRGSRUQHM2%RH7\OHNUZL
0LD UDFM .UHZ *LGHRQD E\D ZV]G]LH L UEHN PRMHM VXNQL QDVLN QL
QLF]\PJEND0D\
5REHUW]SDF]HPSU]\NXFQZURJX]DVDQLDMFVRELHWZDU]UNDPL
&RSDQ]UREL"Z\V]HSWDDP
:SRQLHG]LDHNZV]NROHZV]\VWNRE\RMDNGDZQLHM1RSUDZLHZV]\VWNR
0LPR ZLRVHQQHJR FLHSD &\QWKLD PLDD QD V]\L ]DZL]DQ\ JUXE\ V]DO
3RVSLHV]QLHSU]HV]DSU]H]KROQLHUR]JOGDMFVLQDERNL
*RUGRQ*HOGHUPDQV]HG]DQLNURNZNURN
1R GDM MX VSRNyM &\QWKLD EXUF]D 3U]HSUDV]DP $OH SU]HFLH QLH
PRHV]VLQDPQLHZLHF]QLHJQLHZD$SR]DW\PQLHE\HPMHG\Q\NWyU\
HHH FKFLD WURFK XUR]PDLFL WZRM LPSUH] 'REU]H ZLG]LDHP MDN
FKRSDN]0DGLVRQ*DUGHQHUWHZDEXWHONZyGNLGRNRNWDMOX
$ 6DUDK Z NRFX VL SU]\]QDD H WD ]LHORQD JDODUHWND Z
G]LHZLG]LHVLFLXSURFHQWDFKVNDGDDVL]DJUHVWRZHMQDOHZNLMHMEDEFL
'DM PL VSRNyM ZDUNQD &\QWKLD SUyEXMF ]LJQRURZD JUXSN
FKLFKRF]F\FK yVPRNODVLVWyZ NWyU]\ SRND]\ZDOL M SDOFDPL =URELH ]H
PQLHSRPLHZLVNRFDHMV]NR\1LJG\FLWHJRQLHZ\EDF]
$MDNUHW\QSU]HSXFLHPWDNLPSUH]ZHVWFKQ;HPHULXV
=DMPLHMVFHQDSRSLHUVLX:LOOLDPD6]HNVSLUDNWyUHPXRGF]DVXJRGQHJR
SRDRZDQLDGUREQHJRZ\SDGNXMDNVLZ\UD]LG\UHNWRU*LOOHVNLHG\RMFLHF
*RUGRQD SU]HND]D KRMQ GDURZL]Q QD UHPRQW VDOL JLPQDVW\F]QHM ER
SU]HGWHP PyZL R XP\OQHM GHZDVWDFML GyEU NXOWXU\ EUDNRZDR NDZDND
QRVD
&\Q SU]HFLH WR JXSRWD SLVQ *RUGRQ 0XWDFMD FK\ED QLJG\ PX VL
QLH VNRF]\ 1LNRJR QLH LQWHUHVXMH H VL REFLVNLZDD ] W\P
F]WHUQDVWRODWNLHP PDOLQNL ]D W\G]LH FL ]QLNQ D Z JUXQFLH U]HF]\ WR MHVW
EDUG]RVHDXX3DVNDGR&\QWKLL]JRQ\PNODQLFLHPZ\OGRZDDQD
SROLF]NX*RUGRQD7RERODR
%LHGQD&\QWKLDZ\V]HSWDDP-DNVLMHV]F]HGRZLHHMHMXEyVWZLDQ\
SDQ:KLWPDQ]ZROQLVL]SUDF\EG]LH]GUX]JRWDQD
1R G]LZQLH EG]LH EH] :LHZLyUNL 0RH VL QDZHW ]GDU]\ H WHUD]
DQJLHOVNL L KLVWRULD ]DF]Q QDP VSUDZLD SU]\MHPQR /HVOLH Z]LD PQLH
SRGUNLSRFLJQDZVWURQVFKRGyZ$OHFKFLDDE\PE\VSUDZLHGOLZD
1LH ]QRVLDP JR NRELHFD LQWXLFMD PRQD SRZLHG]LH DOH MHJR OHNFMH QLH
E\\ZFDOHWDNLH]H
1LFG]LZQHJRSU]HFLHZLG]LDWRZV]\VWNRQD\ZR;HPHULXVOHFLD]D
QDPL]RSRWHP
*G\V]\P\QDJyUSRF]XDPQDUDVWDMF\VPXWHN
3R]RU\ P\O SRZLHG]LDD /HVOLH 7HUD] ZLHP\ H WR SU]\VRZLH MHVW
SUDZG]LZH \F] PX HE\ ]JQL Z ND]DPDWDFK 6WUDQLNyZ 2 &\QWKLD ]
U\NLHP OHFL GR WRDOHW\ =DPLDD VL .WR SRZLQLHQ RSRZLHG]LH MHM R
&KDUORWFLH QD SHZQR RG UD]X SRF]XDE\ VL OHSLHM $ JG]LH ZDFLZLH MHVW
WZRMDNX]\QND"/HVOLHUR]HMU]DDVL
8RQNRORJDZ\MDQLDP3UyERZDOLP\GHOLNDWQLHZ\WXPDF]\FLRWFH
*OHQG]LH MDNLH V SRZRG\ PGRFL &KDUORWW\ ]LHORQHJR RGFLHQLD MHM WZDU]\
IDWDOQHJR KXPRUX L RNURSQHJR EyOX JRZ\ DOH ]MDZLVNR NDFDMHVW FDNRZLFLH
REFHFLRWFH*OHQG]LHDMXQDSHZQRMHOLPLDRE\GRW\F]\MHMLGHDOQHMFyUNL
-HVWZLFLHSU]HNRQDQDH&KDUORWWDPDELDDF]N$OERJX]DPy]JX
']L UDQR QLH XZLHU]\D WH Z FXGRZQH R]GURZLHQLH L WR PLPR L FLRFLD
0DGG\G\VNUHWQLHSRGVXQDMHMEURV]XURREFKRG]HQLXVL]QDVWRODWNDPLZ
ZLHNXGRMU]HZDQLDLRDONRKROX
/HVOLH]DFKLFKRWDD
:LHP WRMHVW QDSUDZGZVWUWQH DOH FK\ED PRQDPLH F]DVHP WURFK
PFLZHM VDW\VIDNFML QLH WZRU]F VRELH RG UD]X ]OHM NDUP\ QR QLH" 7\ONR
WURV]N,W\ONRG]LVLDM2GMXWUDEG]LHP\]QRZXPLHGOD&KDUORWW\SUDZGD"
0RHE\P\MVNRMDU]\\]PRLPNX]\QHP"
-HOL FKFHV] WUDIL GR SLHND ]UyE WR :\FLJQDP V]\M HE\ SRQDG
JRZDPLXF]QLyZU]XFLRNLHPQDQLV]-DPHVDLFKRQLF]HJRLQQHJRVLQLH
VSRG]LHZDDPSRF]XDPZVHUFXXNXFLH
/HVOLHFLVQDPRMGR
1LHPDJRSUDZGD"3RNUFLDPJRZ
7R FK\ED ]QDF]\ H SODQ VL SRZLyG *LGHRQ EG]LH NLHG\ GREU\P
OHNDU]HP
&K\ED QLH U\F]\V] ] SRZRGX WHJR VQRELVW\F]QHJR IDMDQVLDU]D"
;HPHULXVILNQSRQDGPRMJRZNR]LRND']LNLWRELHPyJZLHGXJLL
VSHQLRQ\ \ZRW Z WUDNFLH NWyUHJR EH] ZWSLHQLD GRSURZDG]L FD PDV
OXG]LGRELDHMJRUF]NL
7DN ZLHP SRZLHG]LDDP Z\FLHUDMF GRQL QRV /HVOLH SRGDD PL
FKXVWHF]N$SRWHP]REDF]\D5DSKDHODLSRPDFKDDGRQLHJR
$OH PDV] MHV]F]H PQLH 'R NRFD WZHJR \FLD ZLHF]QHJR SRZLHG]LD
;HPHULXV REGDU]DMF PQLH SRFDXQNLHP -HVWHP ]QDF]QLH EDUG]LHM FRR ,
EDUG]LHM JURQ\ , EDUG]LHM SU]\GDWQ\ , EG MHV]F]H ZWHG\ JG\ ]D GZLHFLH
F]\WU]\VWDODWWZyMQLHPLHUWHOQ\FKRSDNVLUR]P\OLLSRV]XNDVRELHQRZHM
G]LHZF]\Q\ -HVWHP QDMZLHUQLHMV]\P QDMSLNQLHMV]\P L QDMPGU]HMV]\P
WRZDU]\V]HPMDNLHJRPRQDVRELHZ\PDU]\
7DN ZLHP SRZWyU]\DP LGF GDOHM L REVHUZXMF MDN 5DSKDHO L /HVOLH
ZLWDMVL]HVREWR]QDF]\RERZL]NRZ\PLGZRPDFDXVDPLZSROLF]NLFR
5DSKDHOVSU]HGDQDPMDNRW\SRZHIUDQFXVNLHSU]\ZLWDQLH
-DNR LP VL XGDR ]GHU]\ VL SU]\ W\P JRZDPL ;HPHULXV EH]F]HOQLH
Z\V]F]HU]\]E\
$OHMHOLF]XMHV]VLVDPRWQDPRHE\VRELHVSUDZLDNRWD"
0RHSyQLHMSRZLHG]LDDP-DNMXQLHEGPLHV]NDZGRPXLRLOH
EG]LHV]VL]DFKRZ\ZDSU]\]ZR=DPLONDP
3U]HGHPQZSURVW]HFLDQ\JDELQHWXSDQL&RXQWHU]PDWHULDOL]RZDDVL
PURF]QDSRVWD=Z\ZLHFKWDQHMSHOHU\Q\Z\VWDZDDFKXGDV]\MDDQDQLHM
JRZD ] NWyUHM VSRJOGD\ QD PQLH F]DUQH SU]HSHQLRQH QLHQDZLFL RF]\
KUDELHJRGL0DGURQHDOLDVORUGD9DGHUD
=DUD]WH]DF]FKDUF]H
$FK ZLF WX FL ]QDMGXM GHPRQLH R V]DILURZ\FK RF]DFK 1LHVSRNRMQLH
SU]HPLHU]DHP VWXOHFLD ZV]G]LH V]XNDMF FLHELH L SRGREQ\FK WRELH JG\
SU]\VLJHPZDPPLHUD0DGURQHQLJG\QLH
DPLHGDQHJRVRZD
7R WZyM NXPSHO" VS\WD ;HPHULXV SRGF]DV JG\ MD ] SU]HUDHQLD
VWDQDPMDNVNDPLHQLDD
*UUUU]DFKDUF]DGXFKZ\V]DUSQPLHF]]SRFKZ\LZ\PDFKXMFQLP
]EOL\VLGRPQLH
7ZRMD NUHZ ]URVL ]LHPL GHPRQLH 3U]HV]\M FL PLHF]H ZLWHJR 6RMXV]X
)ORUHQFNLHJR
3U]\PLHU]\VLGRFLRVXNWyU\PRGUEDE\PLUNJG\E\WRQLHE\PLHF]
GXFKD$OHLWDNVLZ]GU\JQDP
+HM KHM KHM NROHJR QLH UyE WXWDM ]DG\P\ SRZLHG]LD ;HPHULXV L
Z\OGRZD ZSURVW SU]HG PRLPL VWRSDPL 1DMZ\UDQLHM QLH PDV] EODGHJR
SRMFLD R GHPRQDFK 7D WXWDM WR F]RZLHN FKRFLD GR G]LZQ\ L WZyM
PLHV]Q\ PLHF] GXFKD QLF QLH PRH MHM ]UREL -HOL FKFHV] ]DELMD GHPRQ\
PRHV]VSUyERZDV]F]FLD]HPQ
/RUG9DGHUSU]H]FKZLOSDWU]\QDPQLHSRLU\WRZDQ\
1LH RGVWSL WHM GLDEHOVNLHM NUHDWXU\ DQL QD NURN SyNL QLH Z\SHQL
VZRMHJR ]DGDQLD %G SU]HNOLQD NDG\ MHM RGGHFK :HVWFKQDP &y ]D
RNURSQDZL]MD-XZLG]LDDPMDNSU]H]UHV]WPRMHJR\FLDORUG9DGHUNUFL
VL ZRNy PQLH L Z\JDV]D VZRMH ]DEyMF]H KDVD 2EOHZDDE\P ZV]\VWNLH
HJ]DPLQ\ JG\E\ PL EH] SU]HUZ\ FKDUF]D GR XFKD ]HSVXE\ PL EDO
DEVROZHQWyZLPRMHZHVHOHL
;HPHULXVQDMZ\UDQLHMPLDSRGREQHP\OL6SRMU]DQDPQLHGREURWOLZLH
0RJJR]HUH"8PLHFKQDPVLGRQLHJR
6NRURPQLHWDNJU]HF]QLHS\WDV]MDNPRJDE\PSRZLHG]LHQLH"
:\FLJ]ORQG\VNLHJRSLVPDWRZDU]\VNLHJR
/DG\'DEXU\V-RXUQDO
NZLHWQLDURNX
/RUG L ODG\ 3LPSOHERWWRP Z W QLHG]LHO SRZLDGRPLOL R ]DUF]\QDFK LFK
QDMVWDUV]HJRV\QD-DPHVD
3LPSOHERWWRPD
]
SDQQ
$PHOL
QDMVWDUV]
FyUN
ZLFHKUDELHJR
(SLORJ
VW\F]QLDURNX
ZDPQDSUDZGLPSRQXMFSHQVM.WyUDMHVWRF]\ZLFLHRGSRZLHGQLDELRUF
SRG XZDJ WR FR URELFLH 3RNUFLD JRZ 1LH SRSLHUDP WHJR H /XF\
Z\NRQXMHWDNLQLHEH]SLHF]Q\]DZyG-XQLHPRJVLGRF]HNDNLHG\VWDQLH
VLWURFKEDUG]LHMGRPDWRUN&RG]LNL%RJXQDVWSL
$MD]HVZRMHMVWURQ\MXQLHPRJVLGRF]HNDNLHG\ZUHV]FLHZ\QDMG
FHQWUDOQH RJU]HZDQLH /XF\ WU]VF VL ] ]LPQD RSDGD QD MHGHQ ] IRWHOL
RERN NRPLQND -X QLH PyZLF R LQQ\FK U]HF]DFK %G WX ]D G]LHVL
PLQXW U]XFLD QHUZRZR /XLVD PRJDE\ SRZROL ]DF] QDNU\ZD VWy
6SRMU]DD QD 3DXOD -DN P\OLV]MDN *ZHQGRO\Q ]DUHDJXMH QDZLDGRPR
HEG]LHPLDDURG]HVWZR"7RFK\EDPXVLE\G]LZQHXF]XFLH3RJDVNDD
VL SR OHNNR Z\SXN\P EU]XFKX .LHG\ QDV]H G]LHFNR EG]LH PLDR G]LHFL
RQH]GVL]HVWDU]HQLP*ZHQQ\ZRJyOHVLXURG]L
0RH EG]LH ]D]GURVQD" : NRFX ]RVWDZLOLP\ M MDNR QLHPRZO L NLHG\
WHUD]]REDF]\
1D SHZQR VL XFLHV]\ ZSDG MHM Z VRZR 3DXO 3RR\ /XF\ GR QD
UDPLHQLX L F]XOH XFDRZD M Z SROLF]HN *ZHQGRO\Q MHVW WDN VDPR
ZLHONRGXV]Q\P L GREU\P F]RZLHNLHP MDN W\ , *UDFH 2GFKU]NQ HE\
]DPDVNRZD VZRMH QDJH Z]UXV]HQLH =QDF]QLH EDUG]LHM ERM VL FKZLOL Z
NWyUHM*ZHQGRO\QLWHQPD\GUDR]QDMPLPLH]RVWDQG]LDGNLHPGRGD
0DPQDG]LHMHSRF]HNDMMHV]F]HNLONDODW
3U]HSUDV]DP:GU]ZLDFKSRMDZLDVLSRNRMyZND=DSRPQLDDP&]\
PDPQDNU\ZMDGDOQLF]\WXWDMSDQL%HUQKDUG"
1LP /XF\ ]G\D RGSRZLHG]LH ODG\ 7LOQH\ MX ] REXU]HQLHP Z]LD
JERNLZGHFK
3R SLHUZV]H SURV] SXND RGH]ZDD VL VXURZR 3R GUXJLH SURV]
F]HNDDSRZLHPZHM
3RWU]HFLHQLHZROQRSRND]\ZDVLSDVWZX]UR]F]RFKUDQ\PLZRVDPL$
SRF]ZDUWHQLHPyZLVLSDQLSDQL%HUQKDUGW\ONRPD
DPLVLU
7DNPD
DPSRZLHG]LDDQLHPLDRSRNRMyZND7RMDSyMGSRFLDVWR
/XF\SRSDWU]\D]DQL]ZHVWFKQLHQLHP
&K\EDQLJG\QLHSU]\]Z\F]DMVLGRWHJRQD]ZLVND
.21,(&
=DZVSyOQOHNWXUG]LNXMHVDV]DKWWSFKRPLNXMSOVDV]D