You are on page 1of 9

5(&8(,/'()$7:$6'(6$9$176

&21&(51$17/$&(/(%5$7,21'(
/$11,9(56$,5('83523+(7(28
0$:/,'$11$%$:
)$7:$'(6+$<.+,%1%=
7UDGXLWHSDUOH&6&,/
5HYXHHWFRUULJpHSDU$E/XTPkQ
5pYLVpHSDU$EX7DOKD

/RXDQJHj$OODKSDL[HWSULqUHVVXUVRQHQYR\pVXUVDIDPLOOHVHVFRPSDJQRQVHWFHX[TXLORQW
SULVFRPPHJXLGH

/DTXHVWLRQFRQFHUQDQWOHVWDWXWGHODFpOpEUDWLRQGHODQDLVVDQFHGX3URSKqWH 3DL[HW3ULqUHVVXU
OXL GHODYHLOOpHFHWWHQXLWOjGHVVDOXWVTXLOXLVRQWDGUHVVpVHWGHWRXWFHTXLSHXWVHIDLUHGDXWUH
jFHWWHRFFDVLRQDGpMjpWpSRVpjSOXVLHXUVUHSULVHV
/DUpSRQVHHVWTXLOQHVWSDVSHUPLVGHIrWHUODQDLVVDQFHGX3URSKqWH 3DL[HW3ULqUHVVXUOXL RX
GHWRXWHDXWUHSHUVRQQHFDUFHFLIDLWSDUWLHGHVLQQRYDWLRQVGDQVODUHOLJLRQ

(QHIIHWOH3URSKqWH 3DL[HW3ULqUHVVXUOXL QHODMDPDLVIDLWQLVHVFDOLIHVELHQJXLGpVQLDXFXQ


DXWUH FRPSDJQRQ TX$OODK OHV DJUpH WRXV  QL FHX[ TXL OHV RQW FRQYHQDEOHPHQW VXLYL ORUV GHV
VLqFOHVPpULWRLUHVDORUVTXHFHVRQWHX[OHVPLHX[LQIRUPpVHQPDWLqUHGH 6XQQDK 'H SOXV LOV
VRQW OHV SOXV DWWDFKpV DX 3URSKqWH 3DL[ HW 3ULqUHV VXU OXL  HW j VD ORL TXH FHX[ TXL OHXU RQW
VXFFpGp
,OHVWUDSSRUWpDXWKHQWLTXHPHQWTXHOH3URSKqWH 3DL[HW3ULqUHVVXUOXL DGLW  4XLFRQTXHDSSRUWH
GDQVQRWUHUHOLJLRQXQHLQQRYDWLRQTXLOXLHVWpWUDQJqUHVDSUDWLTXHHVWjUHMHWHU 
'DQVXQDXWUHKDGLWKOH3URSKqWH 3DL[HW3ULqUHVVXUOXL DGLW  6XLYH]PD6XQQDKHWFHOOHGHVFDOLIHV
ELHQJXLGpVDSUqVPRL$FFURFKH]YRXV\HWPRUGH]\GHWRXWHYRVIRUFHV3UHQH]JDUGHDX[LQQRYDWLRQVFDUWRXWH
LQQRYDWLRQHVWXQpJDUHPHQWHWWRXWpJDUHPHQWHVWGDQVOHIHX 

'DQV FHV GHX[ KDGLWKV LO \ D XQH PLVH HQ JDUGH VpYqUH FRQWUH OH IDLW GrWUH j OLQLWLDWLYH GHV
LQQRYDWLRQV

$OODK  ORXp VRLW,O   D GLW GDQV 6RQ /LYUH H[SOLFLWH  3UHQH] FH TXH OH 0HVVDJHU YRXV
GRQQH TXDQWjFHTXLOYRXVLQWHUGLWDEVWHQH]YRXVHQ  6Y

(WOH7RXW3XLVVDQWDGLW  4XHFHX[GRQFTXLVRSSRVHjVRQFRPPDQGHPHQWSUHQQHQW
JDUGHTXXQHpSUHXYHQHOHVDWWHLJQHRXTXHQHOHVDWWHLJQHXQFKkWLPHQWGRXORXUHX[
6Y

,O GLW pJDOHPHQW  (Q HIIHW YRXV DYH] GDQV OH 0HVVDJHU G$OODK XQ H[FHOOHQW PRGqOH j
VXLYUH  SRXU TXLFRQTXH HVSqUH HQ $OODK HW DX -RXU GHUQLHU HW LQYRTXH $OODK
IUpTXHPPHQW 6Y

,OGLWDXVVL  /HVWRXWSUHPLHUV FUR\DQWV SDUPLOHV(PLJUpVHWOHV$X[LOLDLUHVHWFHX[TXL


OHV RQW FRQYHQDEOHPHQW VXLYLV GDQV XQ EHDX FRPSRUWHPHQW $OODK OHV DJUpH HW LOV
ODJUpHQW ,O D SUpSDUp SRXU HX[ GHV -DUGLQV VRXV OHVTXHOV FRXOHQW OHV UXLVVHDX[ HW LOV \
GHPHXUHURQWpWHUQHOOHPHQW9RLOjOpQRUPHVXFFqV   6Y
(W/H7UqV+DXWDGLW  $XMRXUGKXL-DLSDUDFKHYpSRXUYRXVYRWUHUHOLJLRQHWDFFRPSOL
VXUYRXV0RQELHQIDLW(W-DJUpHO,VODPFRPPHUHOLJLRQSRXUYRXV 6Y
(WOHVYHUVHWVTXLYRQWGDQVFHVHQVVRQWQRPEUHX['DXWUHSDUWOHIDLWGLQQRYHUFHJHQUHGH
FpOpEUDWLRQSDUH[HPSOHUHYLHQGUDLWjGLUHTX$OODK([DOWpVRLW,OQDSDVSDUDFKHYpODUHOLJLRQ
SRXUFHWWHFRPPXQDXWp&HODUHYLHQGUDLWDXVVLjGLUHTXHOH3URSKqWH 3DL[HW3ULqUHVVXUOXL QD
SDVWUDQVPLVjODFRPPXQDXWpFHTXHOOHGHYDLWPHWWUHHQSUDWLTXHMXVTXjFHTXHYLHQQHQWFHV
FRQWHPSRUDLQVHWTXLOVLQQRYHQWGDQVODORLG$OODKVDQV6DSHUPLVVLRQHQSUpWHQGDQWTXHFHOD
OHV UDSSURFKHUDLHQW GH /XL ,O Q\ D SDV GH GRXWH TXLO \ D HQ FHOD XQ GDQJHU pQRUPH HW XQH
RSSRVLWLRQ HQYHUV $OODK ORXp VRLW,O HW HQYHUV 6RQ 0HVVDJHU &HUWHV $OODK ([DOWp VRLW,O D
SDUDFKHYp6DUHOLJLRQSRXU6HVVHUYLWHXUVHWOHVDFRPEOpVGH6HVELHQIDLWV
/H3URSKqWH 3DL[HW3ULqUHVVXUOXL DWUDQVPLVFODLUHPHQWOHPHVVDJHHWLOQDSDVODLVVpGHFKHPLQ
TXLPqQHDX3DUDGLVHWTXLpORLJQHGHOHQIHU VDQV OLQGLTXHU j ODFRPPXQDXWpFRPPH FHOD HVW
PHQWLRQQpGDQVOHKDGLWKDXWKHQWLTXHVXLYDQW 
6HORQ $EGDOODK LEQ $PU TX$OODK ODJUpH  OH 3URSKqWH 3DL[ HW %pQpGLFWLRQ VXU OXL  D GLW  ,O
LQFRPEHjFKDTXH3URSKqWHTX$OODKHQYRLHGLQGLTXHUjVDFRPPXQDXWpFHTXLOVDLWOHXUrWUHOHSOXVEpQpILTXHHW
GHODYHUWLUGHFHTXLOVDLWOHXUrWUHOHSOXVQpIDVWH  5DSSRUWpSDU0XVOLPGDQVVRQUHFXHLODXWKHQWLTXH

,OHVWELHQFRQQXTXHQRWUH3URSKqWH 3DL[HW3ULqUHVVXUOXL UHSUpVHQWHOHPHLOOHXUHWOHVFHDXGHV


3URSKqWHVHWLOHVWpJDOHPHQWFHOXLTXLDWUDQVPLVOHPHVVDJHGHODIDoRQODSOXVFRPSOqWHHWOD
SOXVFRQVFLHQFLHXVHTXLOVRLW$LQVLGRQFVLFpOpEUHUOHVDQQLYHUVDLUHVIDLVDLWSDUWLHGHODUHOLJLRQ
TX$OODK H[DOWp VRLW,O DJUpH OH 0HVVDJHU G$OODK 3DL[ HW 3ULqUHV VXU OXL  ODXUDLW LQGLTXp j OD
FRPPXQDXWpRXODXUDLWIDLWOXLPrPHYRLUHVHVFRPSDJQRQV TX$OODKOHVDJUpH 
3XLVTXHULHQGHFHODQHVHVWSURGXLWRQHQ GpGXLW TXH FHOD QH IDLW QXOOHPHQW SDUWLH GH O,VODP
0DLVTXHFHVWDXFRQWUDLUHXQHLQQRYDWLRQFRQWUHODTXHOOHOH3URSKqWH 3DL[HW3ULqUHVVXUOXL D
PLVHQJDUGHVDFRPPXQDXWpFRPPHFHODHVWPHQWLRQQpGDQVOHVGHX[KDGLWKVSUpFpGHQWV

'DXWUHVWUDGLWLRQVYRQWGDQVFHVHQVWHOOHODSDUROHGX3URSKqWH 3DL[HW3ULqUHVVXUOXL GDQVVRQ


VHUPRQGXYHQGUHGL  $VVXUpPHQWOHVPHLOOHXUHVSDUROHVVRQWFHOOHVG$OODKOHPHLOOHXUGHVHQVHLJQHPHQWVHVW
FHOXLGX3URSKqWH0XKDPPDG/DSLUHGHVFKRVHVHVWOLQQRYDWLRQHWWRXWpJDUHPHQWHVWHQHQIHU 5DSSRUWpSDU
OLPDP0XVOLPGDQVVRQUHFXHLODXWKHQWLTXH 
/HVYHUVHWVHWOHVKDGLWKVUHODWLIVjFHVXMHWVRQWQRPEUHX[

8QHSDUWLHGHVVDYDQWVDFODLUHPHQWGpVDSSURXYpOHVIrWHVGDQQLYHUVDLUHHWPLVHQJDUGHFRQWUH
FHODFRQIRUPpPHQWDXJHQUHGHSUHXYHVFLWpHVSOXVKDXW&HSHQGDQWFHUWDLQVFRQWHPSRUDLQVOHV
RQW FRQWUHGLWV HW RQW DXWRULVp FHV IrWHV VL HOOHV QH FRPSRUWHQW ULHQ GH EOkPDEOH WHO TXH
OH[DJpUDWLRQ DX VXMHW GX 0HVVDJHU G$OODK 3DL[ HW 3ULqUHV VXU OXL  OD PL[LWp OXWLOLVDWLRQ

GLQVWUXPHQWV GH PXVLTXH RX GH WRXW DXWUH FKRVH TXH QDSSURXYH SDV OD ORL LVODPLTXH SXULILpH
3DUFHTXHFHVIrWHVVRQWSRXUHX[GHERQQHVLQQRYDWLRQV

1pDQPRLQVGDSUqVODUqJOHUHOLJLHXVHWRXWGLIIpUHQGGRLWrWUHH[SRVpjODOXPLqUHGXOLYUHG$OODK
HW GH OD 6XQQDK GH VRQ 0HVVDJHU 0XKDPPDG 3DL[ HW  3ULqUHV VXU OXL  FRPPH $OODK OH 7RXW
3XLVVDQW OD GLW   2 OHV FUR\DQWV  2EpLVVH] j $OODK HW REpLVVH] DX 0HVVDJHU HW j FHX[
GHQWUHYRXVTXLGpWLHQQHQWOHFRPPDQGHPHQW3XLVVLYRXVYRXVGLVSXWH]HQTXRLTXH
FHVRLWUHQYR\H]OHj$OODKHWDX0HVVDJHUVLYRXVFUR\H]HQ$OODKHWDXMRXUGHUQLHU&H
VHUDELHQPLHX[HWGHPHLOOHXUHLQWHUSUpWDWLRQ HWDERXWLVVHPHQW  6Y
(WOH7UqV+DXWDGLW  6XUWRXWHVYRVGLYHUJHQFHVOHMXJHPHQWDSSDUWLHQWj$OODK 6
Y

1RXV DYRQV FRQIURQWp FHWWH TXHVWLRQ GH OD FpOpEUDWLRQ GH OD QDLVVDQFH GX 3URSKqWH DX OLYUH
G$OODKJORULILpVRLW,OHWQRXV\DYRQVWURXYpTX,OQRXVRUGRQQHGHVXLYUHOH0HVVDJHU 3DL[HW
3ULqUHVVXUOXL GDQVFHTXLOXLDpWpUpYpOpHWTX,OQRXVPHWHQJDUGHFRQWUHFHTXLODLQWHUGLW
$OODKQRXVLQIRUPHpJDOHPHQWTX,ODSDUDFKHYp6DUHOLJLRQSRXUFHWWHFRPPXQDXWp

/DFpOpEUDWLRQGHVDQQLYHUVDLUHVQHIDLWSDVSDUWLHGHVHQVHLJQHPHQWVGX3URSKqWH 3DL[HW3ULqUHV
VXUOXL HOOHQHIDLWGRQFSDVSDUWLHGHODUHOLJLRQTX$OODKDFRPSOpWpHSRXUQRXVHWGDQVODTXHOOH
,OQRXVRUGRQQHGHVXLYUHOH0HVVDJHU

1RXV DYRQV pJDOHPHQW H[SRVp FHWWH TXHVWLRQ j OD 6XQQDK GX 0HVVDJHU G$OODK 3DL[ HW 3ULqUHV
VXUOXL HWLOQ\HVWQXOOHPHQWPHQWLRQQpTXHOH3URSKqWH 3DL[HW3ULqUHVVXUOXL DFpOpEUpVRQ
DQQLYHUVDLUHQLTXLOODRUGRQQpQLTXHVHVFRPSDJQRQV TX$OODKOHVDJUpH ORQWIDLW2QSHXW
GRQFHQFRQFOXUHTXHFHODQHIDLWSDVSDUWLHGHODUHOLJLRQHWTXHFHVWDXFRQWUDLUHXQHLQQRYDWLRQ
XQHLPLWDWLRQGHVJHQVGX/LYUH OHVMXLIVHWOHVFKUpWLHQV GDQVOHXUVIrWHV
,OHVWGRQFpYLGHQWSRXUFHOXLTXLSRVVqGHXQPLQLPXPGHFODLUYR\DQFHTXLGpVLUHODYpULWpHWTXL
HVWKRQQrWHDYHFOXLPrPHTXHODFpOpEUDWLRQGHVDQQLYHUVDLUHVQHIDLWSDVSDUWLHGHO,VODPPDLV
TXHOOHHVWXQHLQQRYDWLRQFRQWUHODTXHOOH$OODKJORULILpVRLW,OHWVRQ0HVVDJHU 3DL[HW3ULqUHVVXU
OXL RQWPLVHQJDUGH

,OQHFRQYLHQWSDVjODSHUVRQQHVHQVpHGHVHODLVVHUWURPSHUSDUOHIDLWTXXQHJUDQGHPDMRULWpGH
JHQVHWFHGDQVGHQRPEUHX[SD\VFpOqEUHQWOHVDQQLYHUVDLUHV&DUODYpULWpQHVHUHFRQQDvWSDV
DXYXGXJUDQGQRPEUHPDLVSDUOHVSUHXYHVUHOLJLHXVHVTXLVRQWDSSRUWpHVFRPPHOHGLWOH7UqV
+DXWjSURSRVGHVMXLIVHWGHVFKUpWLHQV  (WLOVRQWGLW  1XOQHQWUHUDDX3DUDGLVTXH-XLIV
RX &KUpWLHQV  9RLOj OHXUV FKLPqUHV 'LV  'RQQH] YRWUH SUHXYH VL YRXV rWHV
YpULGLTXHV 6Y

(W,OGLWDXVVL  (WVLWXREpLVjODPDMRULWpGHFHX[TXLVRQWVXUODWHUUHLOVWpJDUHURQWGX
VHQWLHUG$OODK  6Y
'DXWUHSDUWFHVIrWHV GDQQLYHUVDLUH HQ SOXV GX IDLW TXHOOHV VRQW GHV LQQRYDWLRQV FRPSRUWHQW
GDXWUHV DFWHV WRXW DXVVL EOkPDEOHV FRPPH  OD PL[LWp OHV FKDQWV OXWLOLVDWLRQ GLQVWUXPHQWV GH
PXVLTXHODFRQVRPPDWLRQGDOFRROHWGHGURJXHVRXGHWRXWDXWUHVPpIDLWV

,OVHSHXWpJDOHPHQWTXHFHVIrWHVFRPSRUWHQWXQPDOELHQSOXVJUDYHjVDYRLUODVVRFLDWLRQQLVPH
PDMHXU
$LQVLHVWFRQVLGpUpFRPPHGHODJUDQGHDVVRFLDWLRQOHIDLWGHVXUHQFKpULUjSURSRVGX3URSKqWH
RXGDXWUHVVDLQWVHQOHVLQYRTXDQWHQLPSORUDQWOHXUVHFRXUVHWOHXUDLGHHQFUR\DQWTXLOVRQW

DFFqVjODVFLHQFHGHOLQFRQQXHWWRXVFHVDFWHVGHPpFUpDQFHTXHEHDXFRXSGHJHQVFRPPHWWHQW
ORUVTXLOVFpOqEUHQWODQDLVVDQFHGX3URSKqWH 3DL[HW3ULqUHVVXUOXL RXGHWRXWDXWUHSHUVRQQH
TXLOVFRQVLGqUHQWFRPPHVDLQWV

2U LO HVW DXWKHQWLTXHPHQW UDSSRUWp TXH OH 0HVVDJHU G$OODK 3DL[ HW  3ULqUHV VXU OXL  D GLW 
3UHQH]JDUGHjOH[DJpUDWLRQGDQVODUHOLJLRQFDUOHVJHQVRQWDXWUHIRLVSpULjFDXVHGHFHOD (WLO 3DL[HW
3ULqUHVVXUOXL DGLWDXVVL  1HPHPHFRXYUH]SDVH[DJpUpPHQWGpORJHVFRPPHORQWIDLW
OHVFKUpWLHQVDYHFOHILOVGH0DU\DP&DUMHQHVXLVTXXQHVFODYH'LWHV OHVFODYHG$OODK
HW VRQ 0HVVDJHU  5DSSRUWp SDU %RXNKDUL GDQV VRQ UHFXHLO DXWKHQWLTXH GDSUqV OH KDGLWK GH
8PDU TX$OODKODJUpH
0DLV FRPELHQ LO HVW pWRQQDQW TXH OD JUDQGH PDMRULWp GHV JHQV VHIIRUFHQW GH SDUWLFLSHU j FHV
FpOpEUDWLRQVLQQRYpHVHWGHSUHQGUHOHXUGpIHQVHDORUVTXLOVQHVHVRXFLHQWSDVGHPDQTXHUXQ
VHUPRQ GX YHQGUHGL RX OHV SULqUHV HQ JURXSH TXL VRQW GHV FRPPDQGHPHQWV G$OODK 6DQV
FRQVLGpUHU TXLOV FRPPHWWHQW XQ JUDYH SpFKp &HFL SURYLHQW GXQH IRL IDLEOH GXQ PDQTXH GH
FODLUYR\DQFHHWGHODPXOWLWXGHGHSpFKpVTXLREVFXUFLWOHVFXUV1RXVGHPDQGRQVj$OODKGH
QRXVpSDUJQHUDLQVLTXHOHUHVWHGHVPXVXOPDQV
,OHVWpJDOHPHQWjGpSORUHUTXHFHUWDLQHVSHUVRQQHVSHQVHQWTXHOH0HVVDJHU 3DL[HW3ULqUHVVXU
OXL DVVLVWHjFHVFpOpEUDWLRQVHWGHFHIDLWOXLUpVHUYHQWXQDFFXHLOGHVSOXVFKDOHXUHX[
2UFHFLHVWXQPHQVRQJHHWUHOqYHGXQHWRWDOHLJQRUDQFH

(Q HIIHW OH 3URSKqWH 3DL[ HW  3ULqUHV VXU OXL  QH SHXW VRUWLU GH VD WRPEH DYDQW OH -RXU GH OD
5pVXUUHFWLRQ,OQHSHXWFRPPXQLTXHUDYHFTXLFRQTXHHWQHSHXWDVVLVWHUjOHXUVUDVVHPEOHPHQWV
$XFRQWUDLUHLO 3DL[HW3ULqUHVVXUOXL GHPHXUHUDGDQVVDWRPEHMXVTXDX-RXUGX-XJHPHQWHW
VRQkPHHVWDXSOXVKDXWFKH]VRQ6HLJQHXUGDQVODGHPHXUHGHODGLJQLWpFRPPH$OODKOH7UqV
+DXWOHGLW  (W SXLV DSUqV FHOD YRXV PRXUUH] (W SXLV DX -RXU GH OD 5pVXUUHFWLRQ YRXV
VHUH]UHVVXVFLWpV  6YHW
(W OH 3URSKqWH  3DL[ HW 3ULqUH VXU OXL  D GLW  -H VHUDL OH SUHPLHU GRQW OD WRPEH VH IHQGUD OH -RXU GX
-XJHPHQWHWMHVHUDLOHSUHPLHULQWHUFHVVHXUHWOHSUHPLHUGRQWOLQWHUFHVVLRQVHUDDFFRUGpH 6XUOXLOHVPHLOOHXUHV
VDOXWDWLRQVHWSULqUHVGHODSDUWGHVRQ6HLJQHXU

&HVDLQWYHUVHWHWFHQREOHKDGLWKPDLVDXVVLWRXVOHVDXWUHVYHUVHWVHWKDGLWKVTXLYRQWGDQVFH
VHQVDSSRUWHQWODSUHXYHTXHOH3URSKqWH 3DL[HW3ULqUHVVXUOXL HWOHV PRUWV QH VRUWLURQW GH
OHXUV WRPEHV TXH OH -RXU GH OD 5pVXUUHFWLRQ HW SDV DYDQW &HFL HVW SDUWDJp SDU OHQVHPEOH GHV
VDYDQWVPXVXOPDQVVDQVDXFXQHGLYHUJHQFH
,OFRQYLHQWGRQFjFKDTXHPXVXOPDQGrWUHYLJLODQWFRQFHUQDQWFHJHQUHGHTXHVWLRQVHWGrWUH
PpILDQWjOpJDUGGHVLQQRYDWLRQVHWGXFKDUODWDQLVPHTXLVRQWOHIDLWGHVLJQRUDQWVHWDVVLPLOpV

$XSUqVG$OODKQRXVUHFKHUFKRQVODLGHHWFHVWHQ/XLTXHORQGRLWDYRLUFRQILDQFH,OQ\DGH
SXLVVDQFHQLGHIRUFHTXHQ/XL

4XDQWjODSULqUHHWOHVDOXWVXUOH0HVVDJHUG$OODK 3DL[HW3ULqUHVVXUOXL FHODIDLWSDUWLHGHV


PHLOOHXUVDFWHVTXLQRXVUDSSURFKHQWG$OODKHWGHVERQQHVXYUHVFRPPHOHUDSSHOOHOH7UqV
+DXW  &HUWHV$OODKHW6HV$QJHVSULHQWVXUOH3URSKqWH {YRXVTXLFUR\H]SULH]VXUOXL
HWDGUHVVH] OXL YRVVDOXWDWLRQV 6Y
/H3URSKqWH 3DL[HW3ULqUHVVXUOXL DGLW  &HOXLTXLSULHVXUPRLXQHIRLV$OODKSULHVXUOXLGL[IRLV

&HWWHSULqUHHVWORXDEOHjWRXWHKHXUH(OOHHVWUHFRPPDQGpHjODILQGHFKDTXHSULqUHHWPrPH
REOLJDWRLUH ORUV GX GHUQLHU 7DVKDKKXG &HVW DXVVL XQH 6XQQDK IRUWHPHQW UHFRPPDQGpH GDQV GH
QRPEUHXVHV VLWXDWLRQV  DSUqV O$GKkQ DSUqV OpYRFDWLRQ GX QRP GX 3URSKqWH OH MRXU GX
YHQGUHGLHWODYHLOOHGXYHQGUHGLFRPPHOHPRQWUHQWPDLQWVKDGLWKV

4X$OODK QRXV IDFLOLWHDLQVL TXj WRXV OHV PXVXOPDQV OD FRPSUpKHQVLRQ GH 6D UHOLJLRQ HW QRXV
SHUPHWWHG\rWUHDVVLGX4X,OQRXVDFFRUGHjWRXVODIDYHXUGDGKpUHUjOD6XQQDKHWGHSUHQGUH
JDUGH DX[ LQQRYDWLRQV $OODK HVW H[WUrPHPHQW JpQpUHX[ HW 0LVpULFRUGLHX[ 4XH OD SDL[ HW OHV
SULqUHVG$OODKVRLHQWVXUQRWUH3URSKqWH0XKDPPDGOHVVLHQVHWVXUVHVFRPSDJQRQV

&KHLNK,EQ%k]0DGMP$O)DWkZk YROSS

$875()$7:$'(6+$<.+,%1%=
7UDGXLWHSDU$EX7DOKD

4XHVWLRQ  (VWLO SHUPLV DX[ PXVXOPDQV GRUJDQLVHU XQ IrWH GDQV OD PRVTXpH DILQ GH VH
UDSSHOHU GH OD ELRJUDSKLH SURSKpWLTXH OD QXLW GX  5DEL (O $ZZDO j ORFFDVLRQ GH OD QREOH
QDLVVDQFHGX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL VDQVSRXUDXWDQWUHQGUHIpULpHVD
MRXUQpHFRPPHORUVGX $wG "(WQRXVDYRQVGLYHUJpjFHVXMHW&HUWDLQVGHQWUHQRXVRQWGLW FHVW
XQHERQQHLQQRYDWLRQ'DXWUHVRQWGLW FHVWXQHPDXYDLVHLQQRYDWLRQ
5pSRQVH GX6KD\NK,EQ%k]

/HVPXVXOPDQVQRQWSDVjRUJDQLVHUXQHIrWHjORFFDVLRQGHODQQLYHUVDLUHGX3URSKqWH 3DL[HW
%pQpGLFWLRQVG$OODKVXUOXL TXHFHVRLWODQXLWGX5DEv$O$ZZDO RXXQHDXWUHQXLW
'H OD PrPH IDoRQ LOV QRQW SDV j IrWHU ODQQLYHUVDLUH GH WRXWH DXWUH SHUVRQQH SDUFH TXH OD
FpOpEUDWLRQGHVDQQLYHUVDLUHVIDLWSDUWLHGHVLQQRYDWLRQVLQYHQWpHVGDQVODUHOLJLRQ0DLVDXVVLHQ
UDLVRQ GX IDLW TXH OH 3URSKqWH 3DL[ HW %pQpGLFWLRQV G$OODK VXU OXL  QD MDPDLV FpOpEUp VRQ
DQQLYHUVDLUH GXUDQW VD YLH  DORUV TXLO HVW OH WUDQVPHWWHXU GH OD UHOLJLRQ HW OH OpJLVODWHXU GHV ORLV
LVVXHVGHVRQ6HLJQHXU([DOWpVRLW,O2ULOQ\DDXFXQRUGUHjFHVXMHW
'HPrPHDXFXQGHVHVFDOLIHVELHQJXLGpVQHODIDLWQLDXFXQFRPSDJQRQQLDXFXQGHFHX[TXL
OHVRQWVXLYLV 7kELLQ DYHFSHUIHFWLRQSDUPLOHVJpQpUDWLRQVSUpIpUpHVG$OODK1RXVHQGpGXLVRQV
GRQF TXH FHVW XQH LQQRYDWLRQ 2U OH 3URSKqWH 3DL[ HW %pQpGLFWLRQV G$OODK VXU OXL  D GLW 
4XLFRQTXHLQQRYHGDQVQRWUHDIIDLUH ODUHOLJLRQ XQHFKRVHTXLQHQIDLWSDVSDUWLHFHWWHFKRVHVHUDUHMHWpH  (W
GDQV OD YHUVLRQ GH 0XVOLP TXH %XNKkUv D FLWp VDQV FKDvQH GH WUDQVPLVVLRQ 0XDOODT  PDLV GH
IDoRQFDWpJRULTXH 'Mk]LPDQHELKL  4XLFRQTXHFRPPHWXQDFWHSRXUOHTXHOXQRUGUHGHQRWUHSDUWQDSDV
pWpGRQQpYHUUDVRQDFWHUHMHWp 

(QRXWUHODFpOpEUDWLRQGHVDQQLYHUVDLUHVHVWXQDFWHSRXUOHTXHODXFXQRUGUHQDpWpGRQQpGHOD
SDUWGX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL &HODIDLWSOXW{WSDUWLHGHFHTXHOHVJHQV
RQW LQYHQWp GDQV VD UHOLJLRQ GXUDQW OHV VLqFOHV GHUQLHUV &HVW GRQF XQH FKRVH j UHMHWHU (W OH
3URSKqWH 3DL[ HW %pQpGLFWLRQV G$OODK VXU OXL  DYDLW OKDELWXGH GH GLUH GXUDQW OH SUrFKH GX
9HQGUHGL  (Q RXWUH  OD PHLOOHXUH GHV SDUROHV HVW OH OLYUH G$OODK HW OD PHLOOHXUH GHV YRLHV HVW OD YRLH GH
0XKDPPDG 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL HWOHVSLUHVFKRVHVVRQWFHOOHVQRXYHOOHPHQWLQYHQWpHVHWWRXWH
LQQRYDWLRQ HVW XQ pJDUHPHQW  $Q1DVVk
v D UDMRXWp VHORQ XQH FKDvQH GH WUDQVPLVVLRQ MXJpH ERQQH
'MD\LG  (WWRXWpJDUHPHQWHVWGDQVOH)HX 
'DLOOHXUVRQSHXWVHSDVVHUGHODFpOpEUDWLRQGHODQQLYHUVDLUHGX3URSKqWH 3DL[HW%pQpGLFWLRQV
G$OODKVXUOXL HQHQVHLJQDQWOHVUpFLWVGHVDQDLVVDQFHORUVGHVFRXUVFRQFHUQDQWVDELRJUDSKLH
3DL[HW%pQpGLFWLRQVG$OODKVXUOXL 2QSHXWDXVVLHQVHLJQHUOKLVWRLUHGHVDYLHGXUDQWODSpULRGH
DQWpLVODPLTXH 'MkKLOL\DK HWLVODPLTXHGDQVOHVpFROHVOHVPRVTXpHVHWDXWUHVVDQVDYRLUEHVRLQ
GLQYHQWHUXQHFpOpEUDWLRQTXHQL$OODKQL6RQ3URSKqWHQRQWLQVWLWXpHHWjSURSRVGHODTXHOOH
DXFXQHSUHXYHUHOLJLHXVHQH[LVWHHWFHVWG$OODKTXHQRXVGHPDQGRQVODLGH

5DSSRUWpSDU%XNKkUv&KDSLWUH(V6XOKQHW0XVOLP&KDSLWUH(O(TG\DK Q
5DSSRUWpSDU%XNKkULDYHFXQHFKDvQHGHWUDQVPLVVLRQFRXSpHjODEDVH 0XDOODT  &KDSLWUHV(O%X\HW (O,WLVVkP
5DSSRUWpDXVVLSDU0XVOLPDYHFODFKDvQHGHWUDQVPLVVLRQLQWpJUDOH&KDSLWUH(O(TG\DK Q
 5DSSRUWpSDU0XVOLP&KDSLWUH(O'MXPXDKQ
 5DSSRUWpSDU$Q1DVVkv&KDSLWUH(O,GD\QYQ



1RXVLQYRTXRQV$OODKSRXUTX,OJXLGHWRXVOHVPXVXOPDQVOHVDLGHjVHOLPLWHUjOD6XQQDKKHWj
IDLUHDWWHQWLRQDX[LQQRYDWLRQV

&KHLNK,EQ%k].LWkEXW7DKGKvUPLQHOELGDSS

)$7:$'(6+$<.+,%187+$<01
7UDGXLWHSDU$EX7DOKD

4XHVWLRQ  4XHQHVWLOGHODFpOpEUDWLRQGHODQDLVVDQFHGX3URSKqWH "


5pSRQVH GH6KD\NK$O8WKD\PvQ

3UHPLqUHPHQW  ODQXLWGHODQDLVVDQFHGX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL QHVWSDV


FRQQXH GH IDoRQ FHUWDLQH 'DLOOHXUV FHUWDLQV FKHUFKHXUV FRQWHPSRUDLQV HQ VRQW DUULYpV j OD
FRQFOXVLRQTXLOVDJLVVDLWGHODQXLWGX5DEv$O$ZZDO HWQRQGX$LQVLFpOpEUHUODQDLVVDQFH
GX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL ODQXLWGXQDSDVGHVRXUFHGXSRLQWGHYXH
KLVWRULTXH

'HX[LqPHPHQW  GXSRLQWGHYXHUHOLJLHX[FHWWHFpOpEUDWLRQQDSRLQWGHVRXUFHQRQSOXVFDUVL
FHODIDLVDLWSDUWLHGHODORLGLYLQHOH3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL ODXUDLWIDLWRX
ODXUDLWHQVHLJQpjVDFRPPXQDXWp(WVLHIIHFWLYHPHQWLOODYDLWIDLWRXHQVHLJQpFHWWHLQIRUPDWLRQ
DXUDLW QpFHVVDLUHPHQW pWp FRQVHUYpH FDU $OODK OH 7UqV +DXW GLW  (Q YpULWp F
HVW 1RXV TXL
DYRQV IDLW GHVFHQGUH OH &RUDQ HW F
HVW 1RXV TXL HQ VRPPHV JDUGLHQ  (W pWDQW GRQQp
TXHULHQGHWRXWFHODQHVWDUULYpQRXVHQGpGXLVRQVGRQFTXHFHODQHIDLWSDVSDUWLHGHODUHOLJLRQ
G$OODK
3DUWDQWGHFHODLOQHVWSDVSHUPLVGDGRUHU$OODK([DOWpVRLW,ORXGHVHUDSSURFKHUGH/XLSDUFH
PR\HQ(WVDFKDQWTX$OODKOH7UqV+DXWDPLVHQSODFHSRXUQRXVXQHYRLHSDUWLFXOLqUHTXLHVWFH
DYHFTXRLOH3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL HVWYHQXSRXUODWWHLQGUHFRPPHQW
SRXYRQVQRXVQRXVSHUPHWWUHDORUVTXHQRXVQHVRPPHVTXHGHVVHUYLWHXUV>G$OODK@GHPHWWUH
HQSODFHSDUQRXVPrPHXQHYRLHQRXVSHUPHWWDQWGHODWWHLQGUH "2UFHVWXQFULPHjOpJDUGGX
GURLWG$OODK([DOWpVRLW,OTXHGHOpJLIpUHUGDQVVDUHOLJLRQFHTXLQHQIDLWSDVSDUWLH
'H PrPH FHOD LPSOLTXH TXH ORQ WUDLWH GH PHQVRQJH OD SDUROH G$OODK([DOWp VRLW,O
$XMRXUG
KXL -
DL SDUDFKHYp SRXU YRXV YRWUH UHOLJLRQ HW DFFRPSOL VXU YRXV 0RQ
ELHQIDLW 
1RXV GLVRQV GRQF  VL FHWWH FpOpEUDWLRQ IDLW SDUWLH GX SDUDFKqYHPHQW GH OD UHOLJLRQ LO HVW
QpFHVVDLUHTXHOOHH[LVWkWDYDQWODPRUWGX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL 6LHOOH
QHQ IDLW SDV SDUWLH HOOH QH SHXW GRQF IDLUH SDUWLH GH OD UHOLJLRQ FDU $OODK OH 7UqV +DXW GLW 
$XMRXUGKXL MDL SDUDFKHYp SRXU YRXV YRWUH UHOLJLRQ  (W TXLFRQTXH SUpWHQG TXH FHWWH
FpOpEUDWLRQIDLWSDUWLHGXSDUDFKqYHPHQWGHODUHOLJLRQHW TXHOOH HVW DSSDUXH DSUqV OH 3URSKqWH
3DL[ HW %pQpGLFWLRQV G$OODK VXU OXL  DIILUPH SDU Oj TXH OH QREOH YHUVHW SUpFpGHQW HVW XQ
PHQVRQJH
(Q RXWUH LO Q\ D DXFXQ GRXWH TXH FHX[ TXL FpOqEUHQW OD QDLVVDQFH GX 3URSKqWH 3DL[ HW
%pQpGLFWLRQV G$OODK VXU OXL  RQW SRXU LQWHQWLRQ GKRQRUHU OH 3URSKqWH 3DL[ HW %pQpGLFWLRQV
G$OODKVXUOXL GHPDQLIHVWHUOHXUDPRXUSRXUOXLGHUDYLYHUOHVVHQWLPHQWVjVRQpJDUGORUVGH
FHVIHVWLYLWpVHWWRXWFHFLIDLWSDUWLHGHVDGRUDWLRQV&DUODPRXUGX3URSKqWHHVWXQHDGRUDWLRQ
DX SRLQW R OD IRL GXQH SHUVRQQH QDWWHLQW VD SHUIHFWLRQ TXH ORUVTXH OH 3URSKqWH 3DL[ HW
%pQpGLFWLRQVG$OODKVXUOXL GHYLHQWSOXVFKHUjVHV\HX[TXHVDSURSUHkPHVHVHQIDQWVVRQSqUH
HWWRXWHOKXPDQLWp'HPrPHODYpQpUDWLRQGX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL HVW
XQH DGRUDWLRQ (W WRXV OHV VHQWLPHQWV j VRQ pJDUG IRQW DXVVL SDUWLH GH OD UHOLJLRQ FDU FHX[FL
LQFLWHQW OD SHUVRQQH j PHWWUH HQ SUDWLTXH OD OpJLVODWLRQ SURSKpWLTXH $LQVL OD FpOpEUDWLRQ GH OD



$O+LMUY
/D7DEOH6HUYLHY

QDLVVDQFH GX 3URSKqWH 3DL[ HW %pQpGLFWLRQV G$OODK VXU OXL  IDLW SDUWLH GHV SOXV pPLQHQWV
UDSSURFKHPHQWV G$OODK HW OD YpQpUDWLRQ GX 3URSKqWH 3DL[ HW %pQpGLFWLRQV G$OODK VXU OXL  HVW
XQH DGRUDWLRQ 0DLV DORUV VDFKDQW TXH FHVW XQH DGRUDWLRQ LO QHVW GRQF DXFXQHPHQW SHUPLV
GLQYHQWHU GDQV OD UHOLJLRQ FH TXL QHQ IDLW SDV SDUWLH $LQVL OD FpOpEUDWLRQ GH OD QDLVVDQFH GX
3URSKqWHHVWXQHLQQRYDWLRQTXLHVWGRQFLQWHUGLWH

(QRXWUHQRXVDYRQVRXwGLUHTXHVHSURGXLVDLHQWGDQVFHVFpOpEUDWLRQVGHJUDQGHVWUDQVJUHVVLRQV
TXH QL OD ORL GLYLQH QL OLQVWLQFW HW OD UDLVRQ KXPDLQH QH WROqUHQW $LQVL OHV JHQV FKDQWHQW GHV
SRqPHVFRPSRUWDQWGHOH[DJpUDWLRQDXVXMHWGX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL 
DX SRLQW GH OH UHQGUH SOXV JUDQG HQFRUH TX$OODK OXLPrPH TX$OODK QRXV HQ SURWqJH  1RXV
DYRQVDXVVLHQWHQGXSDUOpGHODVRWWLVHGHFHUWDLQVGHQWUHHX[TXLORUVTXHOHFRQWHXUQDUUHODYLH
GX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODKVXUOXL SXLVDWWHLQWODSKUDVH OH3URSKqWHHVWQp VH
OqYHQWWRXVFRPPHXQVHXOKRPPHHQGLVDQW  /kPHGX3URSKqWH 3DL[HW%pQpGLFWLRQVG$OODK
VXUOXL HVWSUpVHQWHQRXVQRXVOHYRQVGRQFSDUGpIpUHQFHSRXUHOOH 0DLVFHFLQHVWTXHVRWWLVH
2XWUH FHOD LO QH IDLW SDV SDUWLH GHV ERQQHV PXUV GH VH OHYHU FDU OH 3URSKqWH 3DL[ HW
%pQpGLFWLRQVG$OODKVXUOXL GpWHVWDLWTXHORQVHOqYHSRXUOXL$LQVLVHV&RPSDJQRQVTXLVRQW
OHVrWUHVTXLODLPHQWOHSOXVHWOHYpQqUHQWELHQSOXVTXHQRXVHQFRUHQHVHOHYDLHQWSDVSRXUOXL
FDULOVVDYDLHQWTXLOGpWHVWDLWFHODGHVRQYLYDQWTXHGLUHGRQFGHFHVGLYDJDWLRQV "

&KHLNK,EQ8WKD\PvQ0DGMDOODWXO0XGMkKLG Q

You might also like