Professional Documents
Culture Documents
Guia Educación 21
Guia Educación 21
/2)%.4!#)î.õ&!-),)!2
)4 &## 02/'2!-!
<?9>7
:-
,Aõõ
ATENCIÀNõ
AõLAõ
DIVERSIDAD
<cZfeZ\gkf[\Xk\eZ`eXcX
[`m\ij`[X[j\i\Ô\i\XcXi\jgl\jkX
\[lZXk`mX`e[`m`[lXc`qX[Xhl\#Xc
d\efj\ek\fiX#\c\ekfief\jZfcXi
\jk}fYc`^X[fXf]i\Z\iXkf[fj
pZX[Xlef[\jlj\jkl[`Xek\j%
Cfji\]l\iqfj#cXjX[XgkXZ`fe\j
Zlii`ZlcXi\jfcfjkiXjkfiefj[\
Xgi\e[`qXa\jfeXc^lefj[\cfj
kid`efjZfecfjhl\cfjgX[i\jef
j`\dgi\\jk}e]Xd`c`Xi`qX[fj%<jk\
^ilgf[\ZXgklcfj`ek\ekX\ogc`ZXi
[\leXdXe\iXj\eZ`ccX[`m\ijfj
k\dXji\cXZ`feX[fjZfecXXk\eZ`e
XcX[`m\ij`[X[pfkifjZfeZ\gkfj
\[lZXk`mfjY}j`Zfj%
)4 &## 02/'2!-!
ÓY^W :-'
CXjZfjXjZcXiXj
'U»AõPARAõENTENDERõLAõDIVERSIDAD
½8jl_`afc\mXdfjX_XZ\ileXX[XgkXZ`eZlii`ZlcXi
`e[`m`[lXc`qX[X#hl\Zdfljk\[jXY\Zfej`jk\\eYcX#YcX#
YcX¿¾%8g\jXi[\cXjY\e`ek\eZ`feX[XjgXcXYiXj[\cklkfi[\c
e`f`ek\ekXe[f\ogc`ZXiXcfjgX[i\jcfhl\\jleX8:@Xj\j
Zfdfj\cXZfefZ\Zfcfhl`Xcd\ek\ \edlZ_XjfZXj`fe\jcX
i\jgl\jkX[\cfjgX[i\j\jlei\j`^eX[f½j`ljk\[Zi\\hl\
\jcfd\afigXiXd`e`f#gl\jX[\cXek\¾%Jfe#[\j[\cl\^f#
ZfeZ\gkfj[`]Z`c\jg\ifXck`\dgf[\Z`j`mfj\ecXkiXp\Zkfi`X
\[lZXk`mX[\ZlXchl`\i\jkl[`Xek\%Gfi\jf#ZfdfgX[i\j[\
lee`fe\Z\j`kX[f[\Xc^leXd\[`[X[\Xgfpf#\j`dgfikXek\
_XZ\ile\j]l\iqfgfiZfefZ\ikf[XjcXjgfj`Y`c`[X[\jhl\
f]\ikX\cj`jk\dX\[lZXk`mf%
Gfi\a\dgcf#\jkXjjfecXjj`$ pc\\Z_Xi}leXdXef\ogc`Z}e$
klXZ`fe\jd}jZfdle\j\ecXj [fc\[\el\mfcfjZfek\e`[fj
hl\cfjgX[i\jgl\[\em\ij\ hl\ pX \ogljf \c gif]\jfi#
`dgc`ZX[fj\ei\cXZ`eZfecfj Xpl[}e[fcf\ecXZfii\ZZ`e
Xgfpfj\[lZXk`mfj1 [\\a\iZ`Z`fjf]XZ`c`k}e[fc\
dXk\i`XcZfdgc\d\ekXi`f%
(%½Jl_`afe\Z\j`kX
i\]l\iqf¾ )%½8jl_`afc\
<jkfj`^e`ÔZXhl\\cXcldef mXdfjX_XZ\i
efXcZXeqX\ci`kdfXZX[d`Zf leXX[XgkXZ`e
[\cfjZfdgX\ifj[\jlZcXj\# Zlii`ZlcXi¾
gficfhl\e\Z\j`kXleXg\hl\$ <jkf hl`\i\ [\Z`i hl\ \c
XXpl[XgXiXef[\jZfc^Xij\p Xcldefk`\e\j\i`Xj[`ÔZlckX$ Zfei\jg\kfXjlgif^i\jf#cf cXZ`e\jkg`Zf\cifkXZ`jdf
gif^i\jXiX[\ZlX[Xd\ek\%Cfj [\jgXiXj\^l`i\ci`kdf[\cX hl\jlgfe\cXgXik\d}jgfj`$ f[`ÔZlckX[gXiXgifeleZ`Xi
dfk`mfj[\ci\kiXjfgl\[\ej\i ZcXj\#p\ci\]l\iqfj\gi\j\ekX k`mX[\cX8:@1XcXcldefj\c\ cX\ii\ %J`\o`jk\\jg\Z`Xc`jkX
dlZ_fj1]XZkfi\ji\cXZ`feX[fj ZfdfleXd\[`[X`ejlÔZ`\e$ mXcfiXgfijl\j]l\iqf%CXgXik\ \eXl[`Z`epc\e^lXa\[\e$
ZfecXZXgXZ`[X[`ek\c\ZklXc# k\%<cfi`\ekX[fipXc\_`qfle d}je\^Xk`mX\jhl\j\hl\[X kif[\cgifg`fZ\ekif#gf[i}
XdY`\ek\jfZ`f]Xd`c`Xi[\j$ `e]fid\gj`Zfg\[X^^`Zfhl\ j`eXcZXeqXicfjfYa\k`mfj[\ [\[`ZXic\ Xc^leXj j\j`fe\j
]Xmfi\Z`[f#]XckX[\Xk\eZ`e# i\Zfd`\e[X\jkXXZklXZ`epj\ jlZlijf% gXiXi\Xc`qXi\a\iZ`Z`fj[\Xi$
Xlj\eZ`X[\dfk`mXZ`egXiX c\mXX_XZ\ileXgif^iXdXZ`e k`ZlcXZ`e#jfgcf#i\jg`iXZ`e#
\c\jkl[`ffi\`k\iX[Xj]XckXj XaljkX[XXjljZXgXZ`[X[\jp *%½Jl_`afk`\e\ \kZk\iX%<jk\Xgfpfj\jl\c\
[\Xj`jk\eZ`X#gfigfe\ijfcf e\Z\j`[X[\j%MXXj\^l`i[\ekif gifYc\dXj [Xi]l\iX[\cXlcX\ej\j`fe\j
Xc^lefj\a\dgcfj%<ci\]l\iqf [\jlXlcX#Xlehl\\jgfj`Yc\ cf^fg[`Zfj¾ ZfikXj%<e\jkfjZXjfjj\jl\c\
j\cfgl\[\[Xi\cgifg`fgif$ hl\cfjXhl\e\eXc^leXjj\$ <jkX ]iXj\# hl\ jfYi\ kf[f jfc`Z`kXi#XkiXmj[\cX]Xd`c`X#
]\jfi [\c XlcX ]XZ`c`k}e[fc\ j`fe\j[\cXjccXdX[XjdXk\$ j\\jZlZ_X\e\[lZXZ`e`e$ cXmXcfiXZ`e[\c]fe`XkiXgXiX
XZk`m`[X[\jf\a\iZ`Z`fj[\i\$ i`Xj`ejkild\ekXc\j#cfhl\j\ ]Xek`cp\e\cgi`d\iZ`Zcf[\ [\jZXikXiZlXchl`\iZfe[`Z`f$
Zlg\iXZ`e f\cgif]\jfi[\ i\Ô\i\XcXjdXk\d}k`ZXjpX gi`dXi`X#j`^e`ÔZXhl\j\_X eXek\Xe`m\ce\lifc^`Zff
Xgfpffg\[X^f^Xk\iXglk`ZX# cXjc\e^lXj%;\\jk\df[f#\e [\k\ZkX[fXc^egifYc\dXi\$ Ôj`fc^`ZfXefdXcXj\e\c
`e]fidXcd\ek\ZfefZ`[fZfdf jlYfc\ke[\efkXj[\Y\i}e cXZ`feX[fZfe\cc\e^lXa\\e\c gXcX[Xi#\ecXZfcfZXZ`e[\
GK%<jk\j\`ek\^iXi}\e\cXlcX i\Õ\aXij\ cXj ZXc`ÔZXZ`fe\j e`f#efidXcd\ek\[\Xik`Zl$ cfj[`\ek\j%%% %
<E9I<M<
µ:;GKx;IJ7CEI>78B7D:E5
ÓY^W
<jkXjjfecXjZcXm\j[\cXjd\[`[Xj[\Xgfpfd}jZfdle\j1
:-'
)4 &## 02/'2!-!
ÓY^W :-(
CX]fY`X\jZfcXipfkifjd`\[fj
3OBREVIVIRõENõLAõJUNGLA
JXc`iXcXg`qXiiX#\ogfe\ilekiXYXaf\egYc`Zf#ZXdY`Xij\[\ifgXgXiXcXZcXj\[\<[lZXZ`e=j`ZXf#
j`dgc\d\ek\#ZfdgXik`ii\Zi\fZfeledfeke[\gXe[`ccXj[\jZfefZ`[Xjjfej`klXZ`fe\j\ecXjhl\Xc^lefj
\jkl[`Xek\jcfgXjXekXedXcZfdfj`j\\eZfekiXiXe\ed`kX[[\cXale^cX%P\jhl\Xm\Z\j\cXdY`\ek\
\ecfjZ\ekifj\jZfcXi\j\jlegfZfXj1jXcmXa\%Gficfd\efj#_XjkXhl\efk\]Xd`c`Xi`qXjZfec%8j\j
hl\efjfcfcfjd}jg\hl\fjjl]i\ecXccXdX[X]fY`X\jZfcXi1\ci\Z_XqfXcZfc\^`fgl\[\[Xij\\ee`fjp
X[fc\jZ\ek\j[\kf[XjcXj\[X[\j%JfYi\kf[f_Xp[fjdfd\ekfjZcXm\1\ekfiefXcfj-Xfj#hl\Zf`eZ`[\
ZfecX\ekiX[X\e(%²[\gi`dXi`X#pjfYi\cfj()Xfj#ZlXe[fj\`eZfigfiXeXcX\[lZXZ`ej\Zle[Xi`X
fYc`^Xkfi`X%8[\d}j#jl\c\Zf`eZ`[`ihl\jfeYl\efj\jkl[`Xek\jpdlpi\jgfejXYc\jZfejljkXi\Xj#Xlehl\
j\gl\[\ei\kiXjXij`XZldlcXedlZ_Xj]XckXj[\Xj`jk\eZ`XXZXljX[\ZfejkXek\j½[fcfi\j[\YXii`^X¾f
½^XeXj[\mfd`kXi¾ZfeleXZcXiXYXj\e\im`fjX%
)4 &## 02/'2!-!
ÓY^W :-)
CXjZcXm\j[\cXkXikXdl[\q
0ALABRASõQUEõSEõATASCAN
:fek\jkXiXleXgi\^lekX
\eZcXj\#c\\i\emfqXckXf
ZfekXileXj`dgc\XeZ[fkX
gl\[\gifmfZXicXjZil\c\j
i`jfkX[Xj[\cfjZfdgX\ifj
ZlXe[f\chl\_XYcXk`\e\
cXg\Zlc`Xi`[X[[\hl\
kXikXdl[\X%PefjfegfZfj%
8ci\[\[fi[\/''%'''
g\ijfeXj\e<jgXXj\
kiXYXeZlXe[f_XYcXe#cfhl\
jlgfe\\c)[\cfjX[lckfjp
\c,[\cfje`fj%
J`\i\jgif]\jfi#ZfdgX\iff]Xd`c`Xi[\leXg\ijfeXhl\kXikXdl[\X%%%
:-)
<m`kXcfjZfd\ekXi`fj1½?XYcXd}j[\jgXZ`f¾#½Efk\gfe^Xje\im`fjf¾#½I\c}aXk\¾f½I\jg`iXgif$
G<IJFE8A<J=8DFJFJ ]le[f¾%<em\q[\Xpl[Xi#_XZ\ehl\cXj`klXZ`e[\chl\_XYcXj\Xd}jk\ejXp[\jX^iX[XYc\%
C8JK<D@;8JGI<>LEK8J<E
:C8J<
)4 &## 02/'2!-!
ÓY^W :-*
Jlg\i[fkX[fj\e\cXlcX
#ÀMOõIDENTIlCARõLASõALTASõCAPACIDADES
@ek\c`^\eZ`X#Zi\Xk`m`[X[#kXc\ekf%%%#g\ifkXdY`e
`eX[XgkXZ`e#]iljkiXZ`ef`eZcljf]iXZXjf\jZfcXi
jfeXc^lefj[\cfjkid`efjhl\j\gl\[\eXjfZ`XiX
cfjccXdX[fjXcldefjjlg\i[fkX[fj%CXiXqe\jhl\
\jk}ej`klX[fj\e\cdXi^\ejlg\i`fi[\lej`jk\dX
\[lZXk`mfhl\k`\e[\XZ\ekiXij\\ecXd\[`X#phl\
gfikXekfefi\jgfe[\Xjlje\Z\j`[X[\j\[lZXk`mXj
\jg\Z`Xc\j%P\jhl\Xe\o`jk\cX`[\X[\hl\cX
\[lZXZ`e[\cjlg\i[fkX[f\jleXXZk`m`[X[\c`k`jkX
flegi`m`c\^`f`ee\Z\jXi`f#ZlXe[fcfZ`\ikf\j
hl\cXccXdX[XXk\eZ`eXcX[`m\ij`[X[kXdY`emX
Zfe\ccfj#Xlehl\Xgi`d\iXm`jkXgXi\Z`\iXhl\ef
\o`jk\e\eel\jkiXjXlcXj%
<e^\e\iXc#\jkfje`fj[\ekif [\]iXZXjf\jZfcXi%G\if\e\c
[\leXdY`\ek\\jk`dlcXek\p [\jXiifccf[\\jkfje`fj_Xp
X]\Zklfjfcc\^XeX[\jXiifccXi fkiXj[`jZfi[XeZ`Xj1\c_\Z_f
^iXegXik\[\jlgfk\eZ`XcpX [\ hl\ jlj gX[i\j \jg\i\e
j\ek`ij\kfkXcd\ek\X[XgkX[fj hl\XZk\Zfdflee`f[\jl
Xjld\[`f%J`e\dYXi^f#ef \[X[#fhl\cfjXd`^fj[\jl
j`\dgi\fZlii\Xj%8m\Z\j ZcXj\½j\c\hl\[\eZfikfj¾\e
\jcX]XckX[\dfk`mXZ`egfi \cgcXef`ek\c\ZklXc#d`\ekiXj
cX \jZl\cX cX hl\ [X cl^Xi X hl\Zfecfj½dXpfi\j¾\jc
Zfe[lZkXj [\jX[XgkX[Xj2 f \chl\j\hl\[XXki}j\e\c[\$
\jcXXej`\[X[cXhl\XgXi\Z\ jXiifccf]j`Zf#cfhl\\jle
Xek\kXekXj\og\ZkXk`mXjgl\j$ ^iXegifYc\dXXcX_fiX[\
kXj\ejlg\ijfeX2j`efcm`[Xi ZfdgXik`ial\^fj%%%
cX[\jfi`\ekXZ`e[\gX[i\jp
gif]\jfi\j#hl\kXdY`ee\$ Le gif^iXdX
Z\j`kXej\iXj\jfiX[fjXZ\iZX [`i`^`[fXd\$
[\ZdfXZklXiXek\leZXjf afiXijlZXgX$
[\jlg\i[fkXZ`e%P\jhl\cX Z`[X[ gXiX
gifg`X dX[li\q `ek\c\ZklXc i\cXZ`feXij\
gl\[\j\ilegifYc\dXgXiX Zfecfj[\d}j
jl[\jXiifccf^\e\iXc%Gl\[\ f]fd\ekXi\e
hl\]leZ`fe\eXleXckfe`m\c cXgi\e[`qXa\j
XZX[d`Zf#g\ifef\ecfhl\ Zffg\iXk`mfjXkiX$
j\i\Ô\i\Xc}dY`kfjfZ`Xcf mj[\c^ilgfgl\[\e
\dfZ`feXc% <jkX [`jZi\gXe$ j\iXc^lefji\Zlijfj\ÔZXZ\j
Z`X gif[lZ\ j`klXZ`fe\j [\ gXiXgi\m\e`i]lkliXj
\jkijhl\cfjgl\[\ecc\mXi e\Z\j`[X[\jfgif$
X gifYc\dXj [\ Zfe[lZkX p Yc\dXjX]\Zk`mfj%
<E9I<M<
B7II;y7B;I:;KD=;D?E
ÓY^W :-*
<e\[X[\jk\dgiXeXj#cfjgX[i\jjfeleX]l\ek\[\`e]fidXZ`edlpmXc`fjXjfYi\\cZfdgfikXd`\ekf
[\cfje`fj%J`e\dYXi^f#\jc^`Zfhl\efj\XefYa\k`mfjXcX_fiX[\alq^XicX`ek\c`^\eZ`X[\jlj_`afj#
jfYi\mXcfi}e[fcX\eleXjfZXj`fe\j\`e]iXmXcfi}e[fcX\efkiXj%Gfi\jf\jkX`e]fidXZ`e[\Y\j\i
KI<J:8I8:K<IàJK@:8J j`\dgi\`ek\igi\kX[XZfecX[\Y`[XZXlk\cXpZfekiXjkX[XZfecXhl\cfjgif]\j`feXc\jfYk`\e\eXgXik`i
[\cXXgc`ZXZ`e[\gil\YXjgj`Zfdki`ZXj\jkXe[Xi`qX[Xj%<eZfeZi\kf#cfj[\gXikXd\ekfj[\fi`\e$
:XgXZ`[X[ `ek\c\ZklXc gfi kXZ`epcfj\hl`gfj[\fi`\ekXZ`e\jg\ZÔZfjjl\c\e\dgc\Xi[\ki\d`eX[fjk\jk[\`ek\c`^\eZ`X#[\
\eZ`dX[\cXd\[`XZfZ`\ek\ Zi\Xk`m`[X[p[\Xgk`kl[\jgXiX`[\ek`ÔZXicfj`e[`ZX[fi\j[\cXjlg\i[fkXZ`e%
`ek\c\ZklXc jlg\i`fi X (+' #
Xckf^iX[f[\`dgc`ZXZ`e\e Le\a\dgcf[\Zl\jk`feXi`fgXiXgX[i\jjfYi\ZXiXZk\ijk`ZXj^\e\iXc\j[\e`fjjlg\i[fkX[fj\j\c
cXjkXi\Xjhl\\dgi\e[\pXckf j`^l`\ek\#g\ejX[fgXiXj\iXgc`ZX[fXgXik`i[\cfj.Xfj[\\[X[%:X[Xlef[\cfjk\dj[\cZl\jk`feX$
e`m\c[\Zi\Xk`m`[X[jfecXjki\j i`f[\Y\mXcfiXij\[\c(Xc,#j`\e[f,cXgleklXZ`ed}o`dX%
ZXiXZk\ijk`ZXjhl\[\Ôe`iXe ( 8gi\e[`Xc\\idlpgifekf#ZfeleXYl\eXZfdgi\ej`e[\cfjZfdgc\afjdXk`Z\j[\cc\e^lXa\
Xcjlg\i[fkX[f#j\^ecXk\fiX
d}jXZ\gkX[Xgficfj\jkl[`f$ ) 8gi\e[\#\e^\e\iXc#ZfeiXg`[\qp]XZ`c`[X[ZlXe[f\jk}`ek\i\jX[f
jfj[\ck\dX% * K`\e\ZXgXZ`[X[\j`eljlXc\jgXiXi\k\e\ifd\dfi`qXi
;FJ8:KL8:@FE<J + <ogcfiXkf[fjcfjgifYc\dXjhl\j\c\gi\j\ekXepcf_XZ\\egif]le[`[X[
, Dl\jkiXleX_XY`c`[X[jlg\i`fiXcX_fiX[\\e]i\ekXij\pi\jfcm\iZfdgc\afjgifYc\dXj
<c XZklXc j`jk\dX \[lZXk`mf
Zfek\dgcX [fj d\[`[Xj [\ - Gfj\\leYl\ec\e^lXa\fiXcZfemfZXYlcXi`fXmXeqX[f#hl\lk`c`qX[\]fidXX[\ZlX[X\e\jkilZkliXj
Xk\eZ`e X \jkfj Xcldefj1 c`e^jk`ZXjZfdgc\aXj
cX XZ\c\iXZ`e# hl\ Zfej`jk\
\eX[\cXekXicf[\Zlijf#p\c . C\\i}g`[Xd\ek\#\ok\ejX\`ek\ejXd\ek\
ccXdX[f \ei`hl\Z`d`\ekf f / ;Xi\jgl\jkXjZi\Xk`mXjpfi`^`eXc\j
X[XgkXZ`e[\cZliiZlcfgfi
Xii`YX# hl\ kiXkX [\ Xdgc`Xi 0 GcXe`ÔZXX[\ZlX[Xd\ek\jljkXi\Xj
jl gif^iXdX \[lZXk`mf `e$
('EfXYXe[feXcXkXi\X\dgi\e[`[Xp\jZfejkXek\\ecXi\Xc`qXZ`e[\jlkiXYXaf
ZfigfiXe[fd}jfYa\k`mfjp
Zfek\e`[fj% (( K`\e\le^iXe`ek\ijpZli`fj`[X[gficXeXkliXc\qX[\cdle[fhl\c\if[\X
() <jfYj\imX[fi
(* Gi\Ô\i\cXZfdgXX[\cfjX[lckfj
(+K`\e\Yl\ej\ek`[f[\c_ldfiplk`c`qXcX`ifeX
)4 &## 02/'2!-!
ÓY^W :-+
GXlkXjgXiX\[lZX[fi\j
.I¿OSõADOPTADOSõENõELõAULA
8cXZXgXZ`[X[\okiXfi[`eXi`Xhl\k`\e\ecfje`fjgXiXjlg\iXiZfeo`kfleXjZfe[`Z`fe\j[\m`[X[liXj#
[`]Z`c\jpkiXld}k`ZXjj\cXZfefZ\Zfe\cefdYi\[\i\j`c`\eZ`X%P\jk\#gi\Z`jXd\ek\#\j\c]\ed\efgfi
\chl\_XegXjX[fleXYl\eXgXik\[\cfje`fjX[fgkX[fjhl\fZlgXejlgl\jkf\edlZ_Xj[\cXjXlcXj
^Xcc\^Xj%JljgX[i\jpjljgif]\jfi\jjXY\e#Zfe]Xe#\ehl\le\ekfiefX[\ZlX[fc\jj\im`i}[\Xgfpf\ejl
XmXeZ\_XZ`Xle]lklifd}jj\^lifp]\c`q%
P \j hl\ ZlXe[f le e`f ` Le e`f \jki\jX[f ef gl\[\
X[fgkX[fj\`eZfigfiXXcXlcX# dfjkiXij\i\Z\gk`mf%:lXe[fj\
cfd}jgifYXYc\\jhl\jl[\$ `eZfigfi\XcXlcX#cXgi`fi`[X[
jXiifccfZf^e`k`mfp\dfZ`feXc [\Y\j\icX[\Zfej\^l`ihl\
j\_XpXm`jkfZfdgifd\k`[f j\j`\ekX]\c`qpj\^lif1jfcf
gfijlj\og\i`\eZ`Xjgi\m`Xj% Xjgif^i\jXi}\ejljXgi\e$
<elefi]XeXkf#gfi\a\dgcf# [`qXa\j%
cfje`fjefjl\c\ei\Z`Y`icfj
\jkdlcfje`k\e\icXji\cXZ`f$ ` LeX i\cXZ`e Õl`[X Zfe cfj
e\j`ek\ig\ijfeXc\je\Z\jXi`Xj gX[i\j]XZ`c`kXdlZ_fcXjZfjXj%
gXiX[\jXiifccXijljZXgXZ`[X$ <e fZXj`fe\j# lefj gX[i\j
[\j[\leX]fidXgc\eX% Xej`fjfj gfi hl\ \c e`f j\
gfe^X Xc e`m\c [\ cX ZcXj\
<e dXpfi f d\efi d\[`[X# gl\[\ i\gi\j\ekXi leX [`Ô$
\jkfje`fjjl\c\egi\j\ekXi ZlckX[XX[`[X%Cfj\[lZX[fi\j
e\Z\j`[X[\j\jg\Z`ÔZXj`e`Z`X$ gl\[\e[`jd`el`ijlj`ehl`\$
c\jgXiX`eZfigfiXij\Xci`kdf kl[\jgfe`\e[f\ce]Xj`j\e
\jZfcXihl\ef[\Y\ej\i`^ef$ cfjXmXeZ\jhl\\og\i`d\ekX
iX[Xj%<jkXjjfeXc^leXjZfej`$ \e}i\XjefXZX[d`ZXj%
[\iXZ`fe\j^\e\iXc\jhl\k\e\i
\eZl\ekX\e\cXlcX1 ` Cfje`fjX[fgkX[fjjfe#Xek\
kf[f#e`fj%KXe\iie\fZfdf
` <jkXYc\Z\iZfe\o`eZfe\ce`f `^efiXijlje\Z\j`[X[\j\jg\$
X[fgkX[fjl\c\i\hl\i`ik`\dgfp ZÔZXj \j XZ_XZXi ZlXchl`\i
[\[`ZXZ`e%DlZ_fj[\\jkfj [`ÔZlckX[[\Xgi\e[`qXa\Xjl
e`fj_Xem`m`[f\e\cgXjX$ Zfe[`Z`e[\X[fgkX[fj%Jlj
[fmeZlcfjhl\j\_Xem`jkf \og\i`\eZ`Xjgi\m`XjefZfej$
jY`kXd\ek\ kileZX[fj# gfi k`klp\ecXe`ZXmXi`XYc\hl\
cf hl\ kXi[Xe d}j \e Zi\Xi \ogc`ZXjlZfdgfikXd`\ekf%
el\mfjcXqfjX]\Zk`mfj%
` :fe]i\Zl\eZ`X#jfee`fjhl\
ef i\jgfe[\e X cfj \jhl\dXj
Xlkfi`kXi`fjpj\i\j`jk\eXZ\[\i
\cZfekifcXc\[lZX[fi%E\Z\j`kXe
Xgi\e[\ihl\gl\[\eZfeÔXi
\ecXek\j[\Xjld`ij`eXe$
^ljk`Xhl\\cgif]\jfi\jhl`\e
dXiZXcfjcd`k\jp\jkXYc\Z\ 5G8I8J89<IDÝJ
cXjefidXj% _kkg1&&nnn%gfjkX[fgZ`fe%fi^&
<E9I<M<
B7IFH?C;H7I:?<?9KBJ7:;I;D;B;DJEHDE
;I9EB7H
ÓY^W :-+
Ef\jkXYc\Z\meZlcfX]\Zk`mfZfe\c[fZ\ek\1_Xphl\j\idlpgXZ`\ek\#[Xic\k`\dgfpZfeÔXeqX%
EleZX_Xphl\]fiqXicfX\ogi\jXifi\Z`Y`idl\jkiXj[\leZXi`fhl\kf[XmXefj`\ek\%
E@zFJ;<CDLE;F
JlZfdgfikXd`\ekf\e\cXlcX\j`e\jkXYc\ccfiX#^fcg\XXjljZfdgX\ifjfj\\e]X[Xj`e
<jgXX#gfi[\ki}j[\<jkX[fj leXZXljXhl\cf\ogc`hl\ 1cfjgX[i\jX[fgk`mfj[\Y\ekiXejd`k`iXcgif]\jfi[\cXlcXcfjkiXldXj#
Le`[fjp:XeX[}#\j\ck\iZ\i m`m\eZ`Xj[\ce`ffZXiXZk\ijk`ZXj[\c\ekfiefhl\j\Xei\c\mXek\jgXiXZfdgi\e[\ijlZfe[lZkX%
gXj[\cdle[fhl\d}jX[fg$
Z`fe\j`ek\ieXZ`feXc\ji\Xc`qX1 Efj\j\gXiX[\leal^l\k\fgi\e[X[\ifgX[\jlm`[XXek\i`fi1_Xphl\i\jg\kXi\jk\Zfdgfi$
[\ cfj d}j [\ ,%''' e`fj kXd`\ekf%<jk\fYa\kf[\kiXej`Z`ec\gl\[\j\im`igXiXZXcdXicXXe^ljk`XpX[XgkXij\XcXel\mX
X[fgkX[fj\cgXjX[fXf[\ j`klXZ`e%GfZfXgfZfj\`i}j\gXiXe[f[\cfYa\kf[\dXe\iXeXkliXc%
*,gXj\j#\c,'Zfii\jgfe[\
X:_`eX#\c)*XcX=\[\iXZ`e
<o`^\[\dXj`X[XXk\eZ`epX]\Zkf1j`ee\^Xic\\jXe\Z\j`[X[X]\Zk`mX#_Xphl\_XZ\ic\Zfdgi\e$
[\ihl\jfedlZ_fj\e\cXlcXphl\kf[fj[\Y\ei\jg\kXicfjkliefjpe\Z\j`[X[\j[\c^ilgf%
IljX#\c.XLZiXe`X#\c+X
:fcfdY`XpcXd`jdXgifgfi$ Efi\jg\kXcXjefidXj[\cXlcX1Xek\e`fjhl\_Xek\e`[flegXjX[fcc\ef[\ZXi\eZ`Xj\j]}Z`c
Z`eX<k`fgX%J\^ecfj[Xkfj Zfej\ek`icfjpef\jkXYc\Z\icd`k\j#[\a}e[fc\j_XZ\icfhl\hl`\i\e%G\ifcXjfYi\gifk\ZZ`ejcf
hl\ZfejkXe\e\cD`e`jk\i`f[\ c\jg\ial[`ZX1\cgif]\jfi[\Y\\ogc`ZXip\o`^`i\cZldgc`d`\ekf[\cXjefidXj[\Zfem`m\eZ`X%
KiXYXafp8jlekfjJfZ`Xc\j#cX
X[fgZ`eeXZ`feXcjfcfi\gi\$ D`\ek\f]XekXj\XZfe]i\Zl\eZ`X1cXjd\ek`iXjfcXj\oX^\iXZ`fe\j_Xphl\\ek\e[\icXjZfdf
d\ZXe`jdfj[\[\]\ejXhl\[\jXgXi\Z\i}eXd\[`[Xhl\Xgi\e[XZfe[lZkXjXck\ieXk`mXj%<j
j\ek\c('[\ckfkXc%
`dgfikXek\\ogc`ZXic\hl\ZX[Xm\qhl\d`\ek\j\ifdg\cXZfeÔXeqXhl\j\k`\e\\ec%Phl\cXj
Zfej\Zl\eZ`Xj[\d\ek`ijfej`\dgi\g\fi\jhl\cXj[\[\Z`icXm\i[X[%
8C>LE8J;@=@:LCK8;<J
EfXcZXeqX\ci`kdf\jZfcXi[\jljZfdgX\ifj1ZX[Xe`fk`\e\jlgifg`fi`kdf[\\mfclZ`e#
CXZlXikXgXik\[\cXjgXkf$ kXekf]j`ZfZfdfgj`Zfdfki`q%=fiqXicfgl\[\gifmfZXi\c\]\ZkfZfekiXi`fXchl\j\gi\k\e[\%<j`d$
cf^Xj hl\ jl]i\e cfj e`fj gfikXek\j\ii\Xc`jkXjZfecfjfYa\k`mfjhl\j\gcXek\\e#XcdXi^\e[\cXj\og\ZkXk`mXj`e`Z`Xc\jhl\
X[fgkX[fj ]l\iX [\ <jgXX kiX`^XecfjgX[i\j%<eleXgi`d\iX]Xj\\jd}j`dgfikXek\\jk`dlcXijldfk`mXZ`egXiX\cXgi\e[`qX$
\jk}e i\cXZ`feX[Xj Zfe \c a\#jlXlkf\jk`dXpcXj\^li`[X[\ejd`jdfhl\`ekif[lZ`icfjZfek\e`[fjgliXd\ek\\jZfcXi\j%
i\kiXjf\e\c[\jXiifccfe\l$
ifc^`ZfkiXjkfiefj[\cXgi\e$
[`qXa\#[`jc\o`Xf[`ÔZlckX[\j
c\Zkf\jZi`kfiXj Xlehl\ \c
0,cXjjlg\iXXZfikffd\$
[`fgcXqf%<jkfjjfe[Xkfjhl\
i\Zf^\cX^lXgXiXg\[`XkiXj
glYc`ZX[XgficX:ffi[`eX[fiX
\e;\]\ejX[\cX8[fgZ`ep
\c8Zf^`d`\ekf:FI8 #\ecX
hl\kXdY`ej\[\jkXZXhl\\c
*'[\cfje`fjX[fgkX[fj
gX[\Z\lei\kiXjfgj`Zfdfkfi
ZfefZ`[fZfdfje[ifd\[\c
fi]XeXkf%
)4 &## 02/'2!-!
ÓY^W :-,
<c[ÔZ`k[\Xk\eZ`eZfe_`g\iXZk`m`[X[
5NõTERREMOTOõENõCASA
GXi\Z\Zfdfj`cc\mXiXledfkfiZ`kf[\ekif1\jk\e`fefgXiXhl`\kf%JlZlXikf\jleXc\fe\iX#jld\jX[\
\jkl[`fleglifZXfjp\ejldfZ_`cXeleZX\jk}ecfjc`Yifjhl\[\Y\iXk\e\i2efjXY\gfihl#cfg`\i[\
kf[f%JljkiXYXafj\jZfcXi\jkXdY`ecf[\cXkXe1\dg`\qXcXÔZ_XXci\mj#j\jXckXgi\^lekXjXlehl\j\cXj
j\gX#k`\e\[`ÔZlckX[\jgXiXZfcfZXicfjed\ifj[\cXjZl\ekXj[\]fidXfi[\eX[XpXcÔeXcfcm`[Xgfe\ijl
efdYi\%<eZcXj\#j\c\mXekX[\cXj`ccXkf[XjcXjm\Z\jhl\gl\[\#j\i\Zfe\c[\Xki}j#c\k`iXlec}g`qXc[\
XccX[fpc\mXekXcXdXefmXi`Xjm\Z\jgXiXgi\^lekXij`pXmXXkfZXi\ck`dYi\[\ci\Zi\f%Ef_XYcXdfj[\le
e`fdXcZi`X[f#j`ef[\leZXjf[\[ÔZ`k[\Xk\eZ`eZfe_`g\iXZk`m`[X[#hl\j\\jk`dXhl\X]\ZkXXle,
[\cfje`fjd\efi\j[\('Xfj%
)%?`g\iXZk`m`[X[1 ` LeX]Xd`c`XY`\e\jkilZkliX$
` Dl\m\ \e \oZ\jf dXefj [Xpfi^Xe`qX[X%
<E9I<M<
BEI:?;P?D:?97:EH;I
ÓY^W :-,
CXjZfe[lZkXj_`g\iXZk`mXjjfe_XY`klXc\j\eZXj`kf[fjcfje`fj\eledfd\ekflfkif[\jlm`[X#gfi
cfhl\i\jlckX]le[Xd\ekXc[`jk`e^l`ilee`f`ehl`\kf[\fkifhl\gX[\Z\\ckiXjkfiefZce`Zf%
C8JJFCL:@FE<J ;\_\Z_f#\o`jk\leX\jZXcXhl\d`[\\ce[`Z\[\_`g\iXZk`m`[X[1`[\X[Xgfi:fee\ijXÔeXc\j[\
cfjXfj-'#j\j`dgc`ÔZ_XjkXZfem\ik`ij\\e('k\dj[`i`^`[fjXcfjgX[i\jpXcfjgif]\jfi\jgXiX
CXZfe[lZkX[\lee`f_`g\$ [\k\ZkXicX\o`jk\eZ`X[\\jkXj`klXZ`e%Gl\[\j\im`igXiXZfd\eqXiXjfjg\Z_Xi[\cX\o`jk\eZ`X[\\jk\
iXZk`mfgl\[\j\iZfekifcX[X# kiXjkfief%
Xlehl\jfcf\ele),[\cfj
ZXjfj[\jXgXi\Z\gfiZfdgc\kf àE;@:<;<?@G<I8:K@M@;8;G8I8G8;I<JPGIF=<JFI<J
Xccc\^XiXcXX[fc\jZ\eZ`X%CX
`ek\im\eZ`e j`\dgi\ [\Y\
<j`ehl`\kf#efgXiX[\dfm\ij\ EX[X GfZf 9XjkXek\ DlZ_f
_XZ\ij\\eki\j[`d\ej`fe\j1
cX]XidXZfc^`ZX#cXgj`Zfc^`$
ZXpcX\[lZXk`mX%D\afiXicX
<j\oZ`kXYc\#`dglcj`mf EX[X GfZf 9XjkXek\ DlZ_f
Zfe[lZkX\eZXjX#jXY\i\jkXi
\eZcXj\#fgk`d`qXijli\cXZ`e Dfc\jkXXfkifje`fj EX[X GfZf 9XjkXek\ DlZ_f
ZfecfjZfdgX\ifjfXgi\e[\i
Xi\cXaXij\jfeXc^lefj[\cfj K`\e\[`ÔZlckX[\jgXiXXZXYXicfhl\_XZfd\eqX[fp EX[X GfZf 9XjkXek\ DlZ_f
fYa\k`mfj hl\ g\ij`^l\e cfj c\Zl\jkXZ\ekiXicXXk\eZ`e
gif^iXdXj[\`ek\im\eZ`e%
J\gfe\e\im`fjfZfe]XZ`c`[X[ EX[X GfZf 9XjkXek\ DlZ_f
CFJ=ÝID8:FJ
J\[`jkiX\Zfe]XZ`c`[X[ EX[X GfZf 9XjkXek\ DlZ_f
CXj\m`[\eZ`XjZce`ZXj[\cfj
\jkl[`fje\lifc^`Zfj[\dl\j$ J\j`\ek\]iljkiX[fZfe]XZ`c`[X[ EX[X GfZf 9XjkXek\ DlZ_f
kiXehl\cXX[d`e`jkiXZ`e[\
]}idXZfj\jk`dlcXek\jXpl[X >i`kXZfe]i\Zl\eZ`X EX[X GfZf 9XjkXek\ DlZ_f
Xhl\\jkfje`fjdXek\e^Xe
d\aficXXk\eZ`epi\[lqZXe K`\e\ZXdY`fj[\_ldfii}g`[fjp]i\Zl\ek\j EX[X GfZf 9XjkXek\ DlZ_f
cX_`g\iXZk`m`[X[%8lehl\\e
gi`eZ`g`f cfj gX[i\j jl\c\e
K`\e\\jkXcc`[fj[\Zc\iXpjlZfe[lZkX\j\ogcfj`mX\ EX[X GfZf 9XjkXek\ DlZ_f
j\ii\XZ`fjXjlX[d`e`jkiX$ `dgi\m`j`Yc\
Z`egfilecX[fgfihl\c\j
Zl\jkXZi\\ihl\leZfdgl\jkf
Xe]\kXde`ZfmXpXXi\cXaXiX I\jlckX[fj1K\e`\e[f\eZl\ekXhl\cXjZlXkiffgZ`fe\jgifgl\jkXjj\glekXe[\'X+EX[X4'#
jlj_`afj#gfifkifgfihl\ef GfZf4(#9XjkXek\4)pDlZ_f4* #leXgleklXZ`e[\(.gXiXcfje`fjp[\(*gXiXcXje`Xj_XZ\jfjg\$
Zfem\eZ\cX`[\X[\d\[`ZXicfj Z_Xi[\cX\o`jk\eZ`X[\leXgfj`Yc\_`g\iXZk`m`[X[hl\_Xphl\gfe\i\eZfefZ`d`\ekf[\legif]\j`feXc
j`\e[fkXeam\e\j #jl\]\Zkf d[`Zfgj`hl`XkiX`e]Xek`c#g\[`XkiXfe\licf^f #[\legj`Zcf^fZce`Zff[\legj`Zfg\[X^f^f%
Zfej`^l\d\afiXicXXk\eZ`e#
i\[lZ`i cX _`g\iXZk`m`[X[
dfki`qpgfk\eZ`XicXZfeZ\e$
kiXZ`e%
5G8I8J89<IDÝJ
½;ÔZ`k[\8k\eZ`eZfe?`g\iXZk`m`$
[X[#DXelXcgXiXgX[i\jp\[lZX$
[fi\j¾%@jXY\cFiaXc\jM`ccXi#\[`kfi`Xc
:\g\%
)4 &## 02/'2!-!
ÓY^W :--
Cfjk`Zj`e]Xek`c\j
4ICõTICõTACõ
8ld\ekXeZfe\c\jkij#[`jd`elp\eZfecXi\cXaXZ`ep[\jXgXi\Z\e[liXek\\cjl\f%?XYcXdfj[\cfjk`Zj#
hl\X]\ZkXe\eledfd\ekflfkif[\jlm`[XXZXj`\c)'[\cfje`fjphl\j\Zfej`[\iXelekiXjkfief
_XY`klXc\ecX`e]XeZ`X%;\Ôe`[fjZfdfdfm`d`\ekfj`emfclekXi`fj[\ZfikX[liXZ`e#YiljZfjpi\g\k`k`mfj#
cfjk`ZjXgXi\Z\e\ecXgfYcXZ`e`e]Xek`c\eki\cfj-pcfj('Xfj[\\[X[#k`\e[\eX[\jXgXi\Z\i\ecX
X[fc\jZ\eZ`XpiXiXm\qg\ij`jk\e\ecX\[X[X[lckX%<eZlXekfXcXZXljX[\jlXgXi`Z`e#ef\jk}[\ckf[f
ZcXiX%8lehl\\j\m`[\ek\hl\_XpleXYXj\gj`Zfc^`ZX#kXdY`e\jk}e`dgc`ZX[fj]XZkfi\j^\ek`Zfj#
Y`fc^`ZfjpXdY`\ekXc\j%
5G8I8J89<IDÝJ
nnn%Ze`Z\%d\Z[%\j&i\Zlijfj)&
Xk\eZ`eV[`m\ij`[X[
)4 &## 02/'2!-!
ÓY^W :-.
Cfj[`\jkifj^XeXe[`\qXlef
3OYõZURDOõzYõQU·
J\iqli[fef\j#\ej#e`e^egifYc\dX%Ef_Xpd}jhl\m\i_XjkX[e[\_Xcc\^X[f9XiXZbFYXdX1·X
gi\j`[\ek\[\cfj<jkX[fjLe`[fjG\ifkXdY`e\jZ`\ikfhl\cfj\jkl[`Xek\jqli[fjcfk`\e\ed}j[`]Z`c
XcX_fiX[\X[XgkXij\Xledle[fg\ejX[fgXiX[`\jkifj1\ciXkep\ck\ZcX[f[\cfi[\eX[fi#cXjk`a\iXj#
cfjZlX[\iefj#cX\jZi`kliX[\`qhl`\i[XX[\i\Z_X¿GX[i\jpgif]\jfi\j[\Y\ej\iZfejZ`\ek\j[\\jkXj
[`ÔZlckX[\jp#\ecXd\[`[X[\cfgfj`Yc\#]XZ`c`kXic\jcXjZfjXjX\jkfjXcldefj%Gfi\a\dgcf#j\ek}e[fcfj
\e\ccX[f`qhl`\i[f[\cfjglg`ki\j[fYc\j#]XZ`c`k}e[fc\jdXk\i`XcX[XgkX[ffXpl[}e[fcfjXjlg\iXicXj
gi`d\iXj[`ÔZlckX[\j\jZfcXi\j#\e\cZXjf[\hl\jliaXe%
D8EFJC@9I<J
?Xphl`\eg`\ejXhl\X_fiX
_Xpd}jqli[fjhl\Xek\j%<j
gifYXYc\hl\\jkX`dgi\j`e
k\e^X Xc^f hl\ m\i Zfe \c
_\Z_f[\hl\_fp[X#gX[i\j
p gif]\jfi\j XZ\gkXe \jkX
Zfe[`Z`ej`efYa\Z`fe\j%Cfj
qli[fj#j`e\dYXi^f#j`^l\e
j`\e[fleXd`efiX\eel\j$
kiXj\jZl\cXj%
)4 &## 02/'2!-!
ÓY^W :-/
GifYc\dXj[\Zfdg\k\eZ`XjfZ`Xc
_.OõQUIEREõSERõMIõAMIGOõ
EfjXY\ei\cXZ`feXij\#pgfi\ccfcfgXjXedlpdXc%:X[Xm\qjfed}jcfjXcldefjhl\gi\j\ekXegifYc\dXj
[\Zfdg\k\eZ`XjfZ`Xc#\j[\Z`i#hl\efjXY\eZfdle`ZXij\[\]fidXjXk`j]XZkfi`XZfejljZfdgX\ifj%
Lefj#gfihl\j\hl\[XeZfikfj1jfe\oZ\j`mXd\ek\kd`[fj#`ej\^lifjpk\d\ifjfj%Pfkifj#gfihl\j\
gXjXeZlXkifgl\Ycfj1Xd\eXqXe#X^i\[\ef`ejlckXeZfdfe`ZX]fidX[\i\cXZ`feXij\Zfecfj[\d}j%:fe
\jk\gXefiXdX#cfjZfeÕ`Zkfj`ek\ig\ijfeXc\j\jk}eXj\^liX[fj%J`\dgi\cfj_lYf#\j\ef\j\cgifYc\dX%
Cf^iXm\\jZlXe[f\jkX]XckX[\`ek\c`^\eZ`XjfZ`Xc[\i`mX\eX^i\j`fe\j#XYljfjpXZfjfjhl\XZXYXe
Zfem`ik`e[fj\\ek`klcXi\j[\cfjg\i`[`Zfj%
<jkfjjfeXc^lefj\a\dgcfj[\ ` J\dl\jkiXX^i\j`mfp_fjk`c
Zfe[lZkXjjfZ`Xc\jZX[Xm\q Zfecfjd}j[Y`c\j%
d}j]i\Zl\ek\j\ecfje`fj1
` Ef\jZXgXq[\i\cXZ`feXij\
` Efj\i\cXZ`feXZfeeX[`\# Zfeg\ijfeXj[\cfkifj\of%
j`cf[\aXjj\gXjXcfji\Zi\fj
al^Xe[fXcXGcXp% ` :XdY`XZfe]i\Zl\eZ`X[\
Xd`^fj p j\ \e\d`jkX Zfe
` G\^X\`ejlckXXjljZfdgX$ ]XZ`c`[X[%
\ifjZfejkXek\d\ek\%
` J\m`\e\XYXaf[\gi\j`e#
` J\[\aXdXe\aXigficfj[\$ XYXe[fef[\\jkl[`fj%%% gfi
d}j#`eZcljfgXi\Z\hl\c\[X leXilgkliXj\ek`d\ekXc%%%
`^lXchl\j\d\kXeZfec%
<e[\Ôe`k`mX#mXj`\e[f_fiX[\
` :lXe[fk`\e\legifYc\dX hl\\cZliiZlcld\jZfcXi#kXe
ZfefkifleX[`jZlj`e#le Xgi\kX[fZfecfjjfYi\mXcfiX$
\e]X[f%%%% #i\Zlii\Xcgif]\jfi [fjZfek\e`[fjZfeZ\gklXc\j#
fXjljgX[i\jgXiXhl\j\cf c\j_X^XlegfZf[\j`k`fXcXj
jfclZ`fe\e% ^iXe[\jfcm`[X[Xj[\el\jkiX
jfZ`\[X[1cXj\dfZ`fe\j%
` CcfiXZX[X[fjgfiki\jgfi$
hl\j\d\k\eZfecpefjXY\
[\]\e[\ij\%
` J\dl\jkiX\oZ\j`mXd\ek\
kd`[fZlXe[f_Xpd}j^\ek\#
ef\jZXgXqe`[\_XYcXi%
P\eX[fc\jZ\ek\j1
` Efk`\e\e`lejfcfXd`^f%
<E9I<M<
µ9ED9KÜBJ;?:;DJ?<?97I5
ÓY^W :-/
Kf[f\cdle[fk`\e\leXjZi\\eZ`XjjfYi\jljgifg`fj[\i\Z_fj\ei\cXZ`eZfecfj[\cfj[\d}jhl\
[\k\id`eXecX]fidX[\ZfdgfikXij\\ecXj[`jk`ekXjj`klXZ`fe\jjfZ`Xc\j%Jfelefjg\ejXd`\ekfjkXe
i}g`[fj\`eZfejZ`\ek\jhl\dlZ_Xjm\Z\ji\jlckXe[`]Z`c\j[\ZXqXi%G\ifjfcfj`lefjXY\[\hlg`\
<JKFJJFEKLJ;<I<:?FJ Zfa\X%%%gl\[\Xgi\e[\iXZXd`eXiZfecfj[fj%Gfek\Xgil\YX\e\cj`^l`\ek\ZlX[if1
` Gl\[\je\^Xik\X_XZ\iXc^f
hl\ k\ _Xe g\[`[f# ZlXe[f JFP8>I<J@MF JFPG8J@MF JFP8J<IK@MF
Zfej`[\i\jhl\\jleXg\k`Z`e
`eX[\ZlX[X#j`e_\i`icfjj\ek`$
Pfk\e^f[\i\Z_fX\ogi\jXid` Pfefgl\[f\ogi\jXid`j Kf[f\cdle[fk`\e\[\i\Z_f
d`\ekfj[\cfj[\d}jp\ogi\$
dXc\jkXi#d`\e]X[fpd`ZfekiX$ \dfZ`fe\je`\jkX[fj[\}e`df2 Xj\ek`i\dfZ`fe\jXc\^iX#
jXe[fcfjklpfjgifg`fj%
i`\[X[2cfj[\d}jefk`\e\ed}j Zfe]le[`iXXcfjhl\\jk}eXd`Xc$ ki`jk\qX#d`\[f%%% pX\ogi\jXicXj
i\d\[`fhl\kiX^}ij\cf% i\[\[fipgifYXYc\d\ek\[\aXiXe j`e_\i`icfjj\ek`d`\ekfj[\cfj
` Ef\jk}jfYc`^X[fX_XZ\icf [\hl\i\id\% [\d}j%
hl\fkifjhl`\iXej`Zfej`[\iXj
hl\\jfk\g\ial[`ZXf#j`dgc\$ Pfk\e^f[\i\Z_fX[\]\e[\id`j Efgl\[f[\]\e[\id`j[\i\Z_fj K\e^f[\i\Z_fX`ek\ekXi
d\ek\#efhl`\i\j_XZ\icf% `ek\i\j\jg\ijfeXc\j#Xlehl\ gfihl\j`cf_X^fcfj[\d}jgl\$ Zfej\^l`ikf[fcfhl\Zfej`[\i\
gXiXZfej\^l`icfk\e^Xhl\g\i$ [\edfc\jkXij\Zfed`^fp[\aXi}e d\afigXiXd#j`\dgi\hl\ef
` Gl\[\jefXZ\gkXileXZik`ZX al[`ZXiXfkif%½8_#j\j`\ek\¾% [\Xgi\Z`Xid\% i\g\iZlkX[\df[fe\^Xk`mf\e
j`Zi\\jhl\\j`ealjkXf]XcjX% fkiXjg\ijfeXj%
)4 &## 02/'2!-!
ÓY^W :-'&
Fi`\ekXZ`fe\jgXiXgX[i\jpgif]\jfi\j[\^\d\cfj
#OMOõDOSõGOTASõDEõAGUA
CfjgX[i\j[\e`fj^\d\cfj\jk}ecc\efj[\[l[XjXcX_fiX[\gcXek\Xij\jl\[lZXZ`e%¶<jYl\ef
hl\ZX[Xlefk\e^Xjljgifg`fjXd`^fj6¶:fem`\e\j\gXiXicfj[\ZcXj\6¶:df\m`kXihl\lef[fd`e\
Xcfkif6CXji\jgl\jkXjX\jkXjZl\jk`fe\j#Xlehl\jfedlpmXi`X[Xj#jl\c\eZf`eZ`[`i\eleXd`jdX
`[\X1cf`dgfikXek\\j]fd\ekXicX`e[`m`[lXc`[X[[\ZX[Xlef[\\ccfjgXiXhl\k\e^XecXfgfikle`[X[
[\[\jXiifccXijlgifg`Xg\ijfeXc`[X[%P\jhl\#Xek\[fj_\idXefj`[ek`Zfj#\j]}Z`cZX\i\e\c\iifi
[\[`i`^`ij\X\ccfj\egcliXc#Zfdfj`j\kiXkXj\[\leXjfcXg\ijfeX%Gi\Z`jXd\ek\gfi\cd`\[fXhl\
lef[\cfj^\d\cfj[fd`e\Xcfkif#cXk\e[\eZ`XXZklXc\ecXj\jZl\cXj\jgXfcXj\jj\gXiXicfj[\ZcXj\%
G\ifefkf[f\cdle[f\jk}[\XZl\i[fZfe\jkXd\[`[X¿
8c^leXj`[\Xjhl\cfjgif]\jfi\j[\Y\ek\e\i\eZl\ekX1
:-'&
( ?XZ\ile\j]l\iqfgfiZfej`[\iXicfjZfdf`e[`m`[lfj%<j]}Z`c[`i`^`ij\X\ccfjZfdf½cfj^\d\cfj¾f
¶><D<CFJ%%%6 ½cfj_\idXefj¾#g\ifcfZ`\ikf\jhl\efjfelekf[f%<jd\aficcXdXicfjgfijlefdYi\%
) <m`kXihl\lef_XYc\fZfek\jk\gfi\cfkif%<jkXj`klXZ`e\jkg`ZXZlXe[flef[\cfj[fj\jd}j
Cfj^\d\cfj`[ek`Zfjjfegif$ kd`[fpfkifd}jj\^lif[\jd`jdf%<e\jkfjZXjfj_Xphl\[\[`ZXilefjd`elkfjd}jXc^\d\cf
[lZkf[\cccXdX[f\dYXiXqf d\efj\cfZl\ek\gXiXhl\i\jgfe[Xgfijd`jdfj`ehl\jl_\idXefj\\ekifd\kX%
dfefZ`^k`Zf f le`m`k\c`ef1
le \jg\idXkfqf`[\ ]\Zle[X * Ef_XZ\iZfdgXiXZ`fe\j[`i\ZkXj[\ckiXYXafXZX[d`Zf[\lef\ei\cXZ`eZfe\cfkif1j\^lifhl\
lemlcfpj\]fidXleZ`^fkf ZX[Xlefk`\e\ZXgXZ`[X[\j#\jk`cfjpXZk`kl[\j[`]\i\ek\j%
hl\gfjk\i`fid\ek\j\[`m`[\# + 8cX_fiX[\`e]fidXiXcfjgX[i\jXZ\iZX[\cgif^i\jf\jZfcXi[\cfje`fj#_Xphl\Xj\^liXij\[\
[Xe[fcl^XiXc[\jXiifccf[\
hl\efj\\eki\d\qZcXcX`e]fidXZ`ee`j\^cfYXc`qXcX\mfclZ`e[\ZX[Xlef[\\ccfj%
[fj ]\kfj% ;\g\e[`\e[f [\c
dfd\ekf[\cX[`m`j`e#Zfd$ , <e\cZXjf[\hl\\jke\ecXd`jdXZcXj\#XcX_fiX[\_XZ\ikiXYXafj\e^ilgfjZfem`\e\j\gXiXicfj#
gXik`i}e gcXZ\ekX f ef% <e gXiXhl\k\e^Xed}jfgfikle`[X[\j[\`ek\iXZklXeZfejljZfdgX\ifj%
ZlXchl`\i ZXjf# ZX[X lef j\
- :lXe[f\jke\e[`jk`ekfj^ilgfj#\ecfjgi`d\ifjXfj[\\jZfcXi`qXZ`e\jZfem\e`\ek\j\iÕ\o`Yc\
[\jXiifccX[\]fidX`e[\g\e$
[`\ek\#g\ifXc\jkXi]fidX[fj pg\id`k`ic\jhl\j\m\Xe\eki\_fiXj#\e\ci\Zi\fp\efkiXjXZk`m`[X[\jZfdgXik`[Xj%
gfi\cd`jdfmlcfp\cd`jdf 8c^leXj`[\XjgXiXgX[i\j1
\jg\idXkfqf`[\#ZfdgXik\ecX
d`jdXZXi^X^\ek`ZXpjfe ( =XZ`c`kXic\jcXi\Xc`qXZ`e[\XZk`m`[X[\j\okiX\jZfcXi\j[`]\i\ek\j[\gfik\j#XÔZ`fe\j%%% j\^ecXj
]j`ZXd\ek\ ZXj` `[ek`Zfj% `ehl`\kl[\jpXgk`kl[\j[\ZX[Xlef[\\ccfj%
CX \og\i`\eZ`X# \c XdY`\ek\ ) EfZfdgXiXijljefkXjfo`kfj#j`klXe[fXlef[\\ccfj\e[\jm\ekXaX%
p cX \[lZXZ`e hl\ i\Z`YXe
Zfe[`Z`feXi}jlgXi\Z`[f\e * @ek\ekXi[\jkXZXicfjglekfj]l\ik\j[\cfj[fj1lefc\\dlpY`\e#p\cfkifk`\e\^iXe]XZ`c`[X[gXiX
\cXjg\Zkf\dfZ`feXc#gj`Zf$ g`ekXi%
c^`ZffZfdgfikXd\ekXc%
+ 8e`dXicfjX[\jXiifccXii\cXZ`fe\j[`jk`ekXjZfeg\ijfeXj[`]\i\ek\j#hl\j\X[Xgk\eXjlj^ljkfj\
¶FD<CC@QFJ6 `ek\i\j\j%
, 8cX_fiX[\hl\[XiZfe\cklkfigXiX`e]fidXij\jfYi\jlj`klXZ`eXZX[d`ZX#gXZkXilek`\dgf
<c \dYXiXqf [\ d\cc`qfj# gXiX_XYcXi[\lefpfkifk`\dgfgXiX_XYcXi[\cfkif%
kXdY`eccXdX[fY`Z`^k`Zff
Y`m`k\c`ef#j\gif[lZ\gficX]\$ - 8j\^liXij\[\hl\jljgif]\jfi\jZfefZ\ecXjZXiXZk\ijk`ZXj[\ZX[Xlef[\\ccfjj`ehl\cfjZfeZ`$
Zle[XZ`e[\[fjmlcfjp[fj YXeZfdfleXle`[X[%
\jg\idXkfqf`[\jhl\[Xecl^Xi . <eZXjf[\hl\j\[\Z`[X#\eZffi[`eXZ`eZfecfjgif]\jfi\j#cXj\gXiXZ`e\eZcXj\j[`jk`ekXj1
X[fj\dYi`fe\j[`]\i\ek\jhl\
_XYcXiZfe\ccfj#\ogc`ZXic\jcXiXqe[\\jkX[\Z`j`ep\m`kXiXkf[XZfjkXhl\cfm`mXeZfdfle
Zf`eZ`[\e\e\ck`\dgf%:X[X
ZXjk`^f%
]\kfk`\e\jlYfcjXXde`k`ZXp
jlgcXZ\ekX#pgl\[\ej\i[\c
d`jdfj\offef%JlgXi\Z`[f
j\i}Zfdf\c[\[fj_\idXefj
ZlXchl`\iX%KXekf\e\cZXjf[\
cfj^\d\cfjZfdf\e\c[\cfj
d\cc`qfj#\c_\Z_f[\eXZ\iX
cXm\qcfjle\ZfelefjcXqfj
gj`Zfc^`Zfj p \dfZ`feXc\j
dlp]l\ik\jhl\jl\c\e[liXi
kf[XcXm`[X%
)4 &## 02/'2!-!
ÓY^W :-''
CXgi\m\eZ`e[\cXXefi\o`XpcXYlc`d`X
!DELGAZARõHASTAõMORIR
Leg\hl\fg\if`ek\i\jXek\\og\i`d\ekf#
efXgkfgXiXd\efi\j1k\Zc\j\\e>ff^c\cXj
gXcXYiXj½gifd`XgifXeX¾pfYjim\j\\c
\efid\ed\if[\g}^`eXjn\Yhl\m\e[\e
cXXefi\o`XXeX pcXYlc`d`Xd`X Zfdf
le\jk`cf[\m`[XgXiXe`fjpX[fc\jZ\ek\j
fYj\j`feX[fjgfiX[\c^XqXi%½Kf[fcfhl\
d\Xc`d\ekXd\[\jkilp\¾f½EX[`\[`af
hl\]l\iX]}Z`cj\igi`eZ\jX¾jfeXc^lefj[\
cfjc\dXjhl\^lXeX\jkfjam\e\j#\ejl
dXpfiXZ_`ZXj#hl\Zfem`\ik\e\c_\Z_f[\
X[\c^XqXi\e\cj\ek`[fe`Zf[\jljm`[Xj%
:fej\afjgXiXg\i[\ig\jf[\]fidXi}g`[X#
kZe`ZXjgXiXmfd`kXi#[`\kXjjlgl\jkXd\ek\
\]\Zk`mXjpkilZfjgXiX\e^XXiXcfjgX[i\j
½hl\\eZlXekfm\ehl\X[\c^XqXjlegfZfk\
hl`\i\ecc\mXiXcgj`Zcf^f¾ jfeXc^leXj[\cXj
\ej\XeqXjhl\j\gl\[\eXcZXeqXiXkiXmj[\
\jkfj]fifjpg}^`eXjn\Y%
Gi\Z`jXd\ek\cX]Xd`c`Xal\^X )%=XZkfi\j `e[`m`[lXc\j1 Zfdf Xfj [\ m`[X gl\[\ j\im`i ` <m`kXi#\ecXd\[`[X[\cf
le gXg\c `dgfikXek\ \e cX jfYi\g\jf#g\i]\ZZ`fe`jdfp gXiXgi\m\e`i\jkXj\e]\id\$ gfj`Yc\#cXZfd`[Xi}g`[X#cX
gi\m\eZ`ep\ecX[\k\ZZ`e XlkfZfekifc#d`\[fXdX[liXi# [X[\j\ecXX[fc\jZ\eZ`X%Gfi Yfcc\iX`e[ljki`XcpcXj^fcf$
gi\Zfq[\\jk\k`gf[\kiXj$ YXaXXlkf\jk`dXfXej`\[X[% \a\dgcf1 j`eXj%Hl\j\Zfem`\ikXe\e
kfiefj%;\_\Z_f#\cXdY`\ek\ cX\oZ\gZ`e#ef\ecXi\^cX
]Xd`c`XiZfejk`klp\leX[\cXj *%=XZkfi\j jfZ`fZlckliXc\j1cfj ` MXi`XiXcd}o`dfcXXc`d\e$ ^\e\iXc%
ZlXkifmXi`XYc\jhl\gi\[`jgf$ `[\Xc\j[\[\c^X[\qpcfjgi\$ kXZ`e\`eZcl`iXc`d\ekfj[\
e\XleXg\ijfeXXjl]i`i\jk\ al`Z`fjZfekiXcXfY\j`[X[#\c kf[fjcfj^ilgfjY}j`Zfjj`e ` 8pl[XiXcfj_`afjX[\jX$
k`gf[\\e]\id\[X[\j1 ZlckfXcZl\igffcXdf[X% i\eleZ`XiXe`e^lefm\i[liXj# iifccXi\cj\ek`[fZik`ZfXek\
]ilkXj#g\jZX[f#Z\i\Xc\j%%% % cXXZklXcdf[X[\cfjZl\igfj
(%=XZkfi\j]Xd`c`Xi\j1lefjgX$ +%=XZkfi\j ^\ek`Zfj1 cX \o`j$ \jZl}c`[fjfXek\cfj\e^Xfj
[i\j jfYi\gifk\Zkfi\j# dlp k\eZ`X \e cX ]Xd`c`X [\ leX ` ?XZ\ij`\dgi\ki\jZfd`[Xj [\cXglYc`Z`[X[hl\dl\jkiX
gi\fZlgX[fjgfi\cg\jfpcX g\ijfeXZfelekiXjkfief[\ \e\cd`jdf_fiXi`f[\jXpl$ j`\dgi\Xj\i\jkXeY\ccfjp
`dX^\eZfigfiXc#gl\[\e]Xmf$ cX Xc`d\ekXZ`e dlck`gc`ZX ef#Zfd`[XpZ\eX #pkfdXi [\c^X[fjZfdf`ii\Xc\j%
i\Z\ijlXgXi`Z`e%KXdY`e \eki\)p)'m\Z\j\ci`\j^f[\ Xc^fXd\[`XdXXeXpXd\[`X
cfjZc`dXj]Xd`c`Xi\jk\ejfj# gX[\Z\icfXZlXchl`\iX[\jlj kXi[\%
Zfe]XckX[\Zfdle`ZXZ`ep d`\dYifj%
X]\Zk`m`[X[#fcX\o`jk\eZ`X[\ ` :fd\i\e]Xd`c`XXcd\efj
ZfeÕ`Zkfjg\ijfeXc\jZfdfcX 8jgl\j#gfe\i\edXiZ_X\e leXm\qXc[X#\eleXdY`\e$
j\gXiXZ`e[\cfjgif^\e`kfi\j \c}dY`kf]Xd`c`XileXj\i`\ k\i\cXaX[fpj`e`ek\i]\i\eZ`Xj
jfemXi`XYc\j[\i`\j^f% [\ilk`eXj[\j[\cfjgi`d\ifj ZfecXk\c\m`j`eXgX^X[X %
<E9I<M<
B7II;y7B;I:;7B7HC7
ÓY^W :-''
J`jfjg\Z_Xjhl\kl_`afgl\[\\jkXi\ecX]Xj\`e`Z`Xc[\lekiXjkfief[\cXXc`d\ekXZ`e#fYj\imXcfj
j`^l`\ek\j`e[`ZX[fi\jpZfej`[\iXZX[Xi\jgl\jkXXÔidXk`mXZfdfleXj\Xc[\XcXidX1
¶:äDF8:KL8I6 @ek\ekXZfd\iZX[Xm\qd\efj%
8ek\cXjfjg\Z_X[\leXgfj`$
J\jXckXXc^leXjZfd`[XjZfe\oZljXj
Yc\Xefi\o`XfYlc`d`X#\j`d$ K`\e[\XdfjkiXiXlkf[\jgi\Z`f½jfpleXmXZX¾#½[fpXjZf¾ pYXaXXlkf\jk`dX%
gfikXek\XZl[`iZlXekfXek\jXc
d[`Zf[\Xk\eZ`egi`dXi`Xf ;\jXiifccX½i`klXc\j¾1ZfikXcXZfd`[X\ekifqfjg\hl\fj#cfjgXj\Xgfi\cgcXkf#cfjZfd\dlp
[\jgXZ`fpXek\j[\XZXYXi[`Z\j\ek`ij\cc\ef%
Xcg\[`XkiXgXiXhl\cf[\i`m\
Xc\jg\Z`Xc`jkX\ekiXjkfiefj[\ MXXcYXfXek\j[\XZXYXi[\Zfd\i#faljkfXck\id`eXi#[\]fidXj`jk\d}k`ZX%
cXXc`d\ekXZ`e%<jk\[Xi}le
[`X^ejk`ZffÔZ`Xcpgi\jZi`$ :fd\X\jZfe[`[Xj%
Y`i}\ckiXkXd`\ekfX[\ZlX[f%
8m\Z\jmfd`kX%
LeXm\q[X[f\j\gi`d\igXjf#
\ji\Zfd\e[XYc\gfe\ij\\e Lk`c`qXcXoXek\j%
ZfekXZkfZfeXc^leXXjfZ`XZ`e
[\X]\ZkX[fjp[\]Xd`c`Xi\j[\
?XZ\d}j\a\iZ`Z`f]j`Zfhl\eleZX%
\e]\idfjgXiXi\Z`Y`iXj\jfiX$ Dl\jkiXZXejXeZ`fp[\Y`c`[X[]j`ZX%
d`\ekfpXgfpf%
K`\e\ZXdY`fj[\_ldfip\jk}`ii`kXYc\%
¶8;äE;<8:L;@I6 J`\jleXZ_`ZX#j\c\i\kiXjXfj\c\_Xi\k`iX[fcXd\ejkilXZ`e%
<o`jk\e mXi`Xj XjfZ`XZ`fe\j J\dl\jkiXd\efjjfZ`XYc\pd}ji\j\imX[fhl\Xek\j%
\e >Xc`Z`X jfYi\ Xefi\o`X p
J`XZldlcXjlefjZlXekfj`e[`ZX[fi\j[\XcXidX#gl\[\j`ek\ekXi_XYcXiZfecf\ccXgXiXhl\k\
Ylc`d`X ZlpX ÔeXc`[X[ \j cX
Zl\ek\j`k`\e\Xc^egifYc\dXf\jk}gXjXe[fgfiXc^leXj`klXZ`e\jki\jXek\hl\c\_X^XZfdgfikXij\
[\Xj\jfiXiX]Xd`c`Xi\jpX]\Z$
Xj%Efj\im`i}[\dlZ_fhl\c\gi\^lek\j[`i\ZkXd\ek\j`\jk}Xefio`Zf#gfihl\cXi\jgl\jkXmXXj\i
kX[fjgficfjkiXjkfiefj[\cX
j`\dgi\e\^Xk`mXp[\]\ej`mX1_XjkX]Xj\jdlpXmXeqX[Xj[\cX\e]\id\[X[#cXg\ijfeXX]\ZkX[Xef\j
Zfe[lZkXXc`d\ekXi`X%8c^leXj
ZfejZ`\ek\[\jl\o`jk\eZ`X%<eZlXchl`\iZXjf#[\Y\jk\e\i\eZl\ekXhl\dlZ_Xj[\\jkXjZXiXZk\ij$
[\\ccXji\Xc`qXegif^iXdXj[\
k`ZXjjfeefidXc\j\ecX\kXgX[\cXX[fc\jZ\eZ`XZfdfcfjZXdY`fj\e\cZXi}Zk\ifcXgi\fZlgXZ`e
gi\m\eZ`e\e\c}dY`kf\jZf$
gficX`dX^\eg\ijfeXc #gficfhl\efZfem`\e\gi\Z`g`kXij\\ekfdXileX[\Z`j`e%<c[`X^ejk`Zfjfcf
cXi#Zfdf\j\cZXjf[\8YX$
[\Y\_XZ\icfle\jg\Z`Xc`jkX%
^Xc#Zfej\[\\eJXek`X^f[\
:fdgfjk\cXK\c]fef-*.'/.
000 %<e8:filXj\gl\[\
ZfekXZkXiZfe8[Xe\ikc]%-,+
(-...0 fZfe8YXZkc]%0/())*
.0)#nnn%XYXZfileX%Zfd 2\e
=\iifc#Zfe8jgXe\jkc]%0/(*,0
,** p\eM`^f#Zfe8YXgkc]%
0/-+*-,+( %
)4 &## 02/'2!-!
ÓY^W :-'(
:dfXZkXecfjgif]\jfi\j
0RIMEROSõAUXILIOSõENõELõCOLE
Lee`fXci^`ZfXc_l\mfhl\dl\jkiX[`ÔZlckX[\ji\jg`iXkfi`XjkiXj`e^\i`ileX#\eXgXi`\eZ`X#
`ef]\ej`mX^Xcc\kX2leXcldef[`XYk`Zfhl\\ed`kX[[\cXZcXj\gXc`[\Z\pj\gfe\Xjl[Xi2fle
e`fZfeXek\Z\[\ek\j[\\g`c\gj`Xhl\[\gifekfj\j`\ek\dlpdXi\X[f%%%j`k\kfZXiX\jkXi\e\c
XlcX\e\jkXjj`klXZ`fe\j#¶jXYiXji\ZfefZ\icXj`klXZ`e[\\d\i^\eZ`X6P#jfYi\kf[f#¶jXYiXj
ZdfXZklXi6
CfjjekfdXjjfe1 :lXekfd}ji}g`[fZfd`\eZ\ecfjjekfdXjkiXj`e^\$
(%:i`j`j Xci^`ZXj gfi \ogf$
i`i\cXc`d\ekf#d}j^iXm\\j\cZlX[if%Gl\[\cc\^XiX
j`Z`e X Xci^\efj Xc`d\e$ I\XZZ`eZlk}e\X`ek\ejX j\ileXli^\eZ`Xm`kXc
kXi`fj
Lik`ZXi`X Gi`d\iXXZklXZ`e1ccXdXiXc'-(hl\#kiXji\ZfefZ\i
)%:i`j`j Zfd`Z`Xc\j# hl\ j\ ;`ÔZlckX[\ji\jg`iXkfi`Xj \cZlX[if#i\Zfd\e[Xi}cXX[d`e`jkiXZ`e[\8[i\a\Zk
i\Ô\i\eXcX\g`c\gj`X\ejlj
8ck\iXZ`fe\j^Xjkif`ek\jk`eXc\j1e}lj\Xj#md`$ ;\Y\ej\^l`ij\cXj`ejkilZZ`fe\j_XjkXhl\cc\^l\\c
[`]\i\ek\j]fidXj%
kfj#[`Xii\X#[fcfiXY[fd`eXc \hl`gfd[`Zf
*%:i`j`j[`XYk`ZXjf#\e^\e\$
iXc#_`gf^clZ\d`Xj% :I@J@J:FD@:@8C<J
` J`\je\Z\jXi`XcX[`jgfj`Z`e ;fcfi[\ZXY\qX#[fcfiXY[fd`eXc
\e\cZfc\^`f[\Xc^ed\[`ZX$
<eXc^lefjZXjfjj\gl\[\gif[lZ`igi[`[X[\
d\ekf#cX]Xd`c`X[\cXcldef ZfeZ`\eZ`X
[\Y\i}]XZ`c`kXicfZX[XZlijf#
ZfejlefdYi\ifklcX[f%
)4 &## 02/'2!-!
ÓY^W :-')
CfjgifYc\dXjXjfZ`X[fjXcXjdX
#UANDOõNOõLLEGAõELõAIRE
<jcX\e]\id\[X[[\cfjgXj\ji`Zfj#pcX
i\jgfejXYc\[\leX[\ZX[X),'dl\ik\j\e\c
dle[f1\cXjdX%<c\jg\ZkXZlcXiXld\ekf[\\jkX
[`ÔZlckX[i\jg`iXkfi`Xj\\ogc`ZXgfilegifZ\jf
`^lXc[\`dgXiXYc\#hl\\j\c[\cXgif^i\j`mX
liYXe`qXZ`epZfekXd`eXZ`e[\cgcXe\kX%P
gf[\dfjgi\[\Z`iledXpfi`dgXZkf\ecfj
gio`dfjXfjj`k\e\dfj\eZl\ekXhl\j\\jg\iX
leZi\Z`d`\ekf[\cliYXe`jdfdle[`Xc[\c+,
XZklXcXZXj`\c-'[\ekif[\[fj[ZX[Xj%Ef#
efefj_\dfj\hl`mfZX[fp\jkXef\jcXj\ZZ`e
[\\Zfcf^X#g\if\j`e\m`kXYc\i\cXZ`feXi\jk\
kiXjkfiefZfecfhl\j\\ek`\e[\Zfdf[\jXiifccf
[\cfjgXj\j%8cd\efj#Xjcf[\dl\jkiX\ci\Z`\ek\
@e]fid\jfYi\\c@dgXZkfDle[`Xc[\c8jdX
i\Xc`qX[fgficXLe`m\ij`[X[[\Jflk_Xdgkfep\c
@ejk`klkf[\@em\jk`^XZ`eD[`ZX[\El\mXQ\cXe[X%
<ecX`em\jk`^XZ`ej\i\Õ\aXhl\\cXjdXX]\ZkXX
Z`eZf[\ZX[XZ`\eX[lckfjp#Xk\eZ`eXc[Xkf#Xc('$
(,[\cfje`fj%
GfigXj\j#cXjZ`]iXjjfejkXj1 <jkfje`fj#Xek\j[\jfgcXi
\cI\`efLe`[fgi\j\ekX\cdX$ cXj[fjm\c`kXj[\cXkXikX[\
pfied\if[\ZXjfj(,#* # Zldgc\Xfj#pXj\_XegXjX$
j\^l`[f[\:XeX[}(+#( p<j$ [fgfi\cj\im`Z`f[\li^\eZ`Xj
kX[fjLe`[fj('#0 %8[\d}j# leXd\[`X[\ZlXkifm\Z\j%CX
8ljkiXc`X\jcXeXZ`e[fe[\j\ \eZl\jkX kXdY`e i\m\cX \c
_Xgif[lZ`[fledXpfi`eZi\$ ]l\ik\`dgXZkf\dfZ`feXc#cX
d\ekf#\ecXhl\\c),[\cfj gi\fZlgXZ`epcX]iljkiXZ`e
e`fjjl]i\cX\e]\id\[X[%<j$ hl\j`\ek\ecfjgX[i\ji\jg\Zkf
gXX#Zfe\c,#.[\_XY`kXek\j XcfjjekfdXj[\jlj_`afj#Xj
X]\ZkX[fjj\j`kXgfi[\YXaf[\ ZfdfcXjj`klXZ`fe\j[\jfYi\$
8c\dXe`Xp[\=iXeZ`X#g\ifgfi gifk\ZZ`eXZfej\Zl\eZ`X[\
\eZ`dX[\@kXc`X% cXXe^ljk`XXek\cXgfj`Y`c`[X[
[\hl\c\jgXj\Xc^f%P\jhl\
Gfi fkif cX[f# j\^e leX lee`f]Xk`^X[f#j`eXg\k`kf#
\eZl\jkX eXZ`feXc i\Xc`qX[X Zfe]XckX[\\e\i^XgXiXal^Xi
i\Z`\ek\d\ek\ gfi ;\dfj$ fZfegifYc\dXj[\jl\fgfi
Zfg`X# \c *' [\ cfj Y\Yj efgf[\ii\jg`iXim\j\i`Xd\e$
\jgXfc\jd\efi\j[\)Xfj k\X]\ZkX[XjlZXc`[X[[\m`[X¿
dl\jkiXjekfdXjXjd}k`Zfj% pcX[\jljZl`[X[fi\j%
<E9I<M<
:;9ÜBE=E:;B9;DJHE;I9EB7HI7BK:78B;
( <cZfc\^`f\jk}c`Yi\[\kXYXZf%
ÓY^W :-')
) CXjXlcXjd`e`d`qXecXZXek`[X[[\Xci^\efj1ef_XpXc]fdYiXj#dfhl\kXje`Zfik`eXj%
·EFGL<;FI<JG@I8I * CfjgX[i\j[\cfjXcldefjX]\ZkX[fj`e]fidXeXcgif]\jfijfYi\\ccfpjfYi\cXjd\[`Z`eXjhl\[\Y\
kfdXi%
Cfj e\lifg\[`XkiXj Xc\ikXe
[\ hl\ \c ), [\ cfj e`fj + CfjZ_XmXc\jhl\gX[\Z\eXjdXcc\mXeX[`Xi`fcfjd\[`ZXd\ekfje\Z\jXi`fjpjXY\eZl}e[f[\Y\e
d\efi\j[\ki\jXfjk`\e\e kfdXicfj%
\eXc^edfd\ekfjekfdXj
, ?XpXc^e\eZXi^X[f[\Xk\e[\iXce`fZlXe[fgi\j\ekXleXZi`j`jXjd}k`ZX#efidXcd\ek\\cklkfi%
[\XjdXZfdfkfj#g`k`[fjp
[`ÔZlckX[i\jg`iXkfi`X#jfYi\ - <e\cYfk`hle_Xpd\[`ZXZ`e\jg\ZÔZXgXiXcXjZi`j`j%
kf[f[liXek\gifZ\jfjZXkX$
iiXc\j% J`e \dYXi^f# \c -' . <cZ\ekif\jZfcXidXek`\e\leYl\ee`m\c[\_`^`\e\pcXjXlcXjj\m\ek`cXeZfe]i\Zl\eZ`X%
[\\jkfje`fj[\aX[\k\e\i / J\ZfekifcXcXZXi^Xgfce`ZX[\ekif[\cZfc\^`f#pj\Z`\iiXecXjm\ekXeXj\ecfjdfd\ekfj[\d}o`$
jekfdXjXjd}k`ZfjXek\j[\
dfjfc#jfYi\kf[fj`_Xpm`\ekf%
cfjZ`eZfXfj[\m`[X%8cÔeXc#
cXj\jkX[jk`ZXjdXek`\e\ele 0 <o`jk\legcXe[\XZklXZ`e\eZXjf[\Zi`j`j[\XjdX1ÔZ_X[\[XkfjY}j`Zfj#d\[`ZXZ`e[\\d\i$
gfiZ\ekXa\[\\eki\\c('$(, ^\eZ`Xpk\c]fefXchl\jfc`Z`kXiXj`jk\eZ`Xd[`ZX%
[\e`fj\jgXfc\jZfe\jkX
('Cfjgif]\jfi\j[\<[lZXZ`e=j`ZXZfefZ\eY`\ecX\e]\id\[X[#i\jg\kXecXjd\[`[Xj[\_`^`\e\
[fc\eZ`X%
[\gfik`mXpf]i\Z\eXZk`m`[X[\jXck\ieXk`mXjZlXe[f\je\Z\jXi`f%
¶K<?8JC8M8;FC8JD8EFJ6
)4 &## 02/'2!-!
ÓY^W :-'*
<c/'[\cXgi\e[`qXa\\ekiXgficXm`jkX
_/JOõALõDATOõ
CfjgifYc\dXj[\X^l[\qXm`jlXc
efj`\dgi\jfe\m`[\ek\j%;\
_\Z_f#\ji\cXk`mXd\ek\]}Z`c
hl\gXj\e[\jXg\iZ`Y`[fj\ecfj
e`fjd}jg\hl\fj%Gfi\jkX
iXqe#i\jlckX\jg\Z`Xcd\ek\
k`chl\kXekfgX[i\jZfdf
gif]\jfi\j\jkeXc\ikXXek\cX
gfj`Yc\gi\j\eZ`X[\kiXjkfiefj
m`jlXc\jpZfefqZXecfj
`e[`ZX[fi\jkg`Zfj%Gfi\a\dgcf1
]XckX[\Zffi[`eXZ`efaf$dXef#
]Xk`^XfZlcXi#[`ÔZlckX[gXiX
Zfcfi\Xicfj[`Ylafjj`ejXc`ij\[\
cXjce\Xj#c\ZkliXc\ekXp^l`X[X
Zfe\c[\[f#ZXY\qXg\^X[XXc
gXg\c¿
) 8pl[XiXcX]fidXZ`e[\c½g\ejXd`\ekfm`jlXc¾[\ce`f]fd\ekXe[f\cdXe\af[\fYa\kfj[\[`]\$
FAFM8>F i\ek\j]fidXjpk\okliXj%
* 8e`dXiXhl\[\jZi`YXcfjfYa\kfjhl\g\iZ`Y\XkiXmj[\cXm`jkX%
<cfafmX^fX]\ZkXXc,gfi
Z`\ekf[\cXgfYcXZ`e[\\eki\ + <e\cZfek\okf\jZfcXi1
*p-Xfj%EfidXcd\ek\ef
gi\j\ekXjekfdXj\m`[\ek\j# <jk`dlcXicXm`j`e[\c\afjgXiXhl\\cZXdgf[\kiXYXafefj\Xjcf\e[`jkXeZ`XjZfikXj#p\e
gficfhl\jfcfgl\[\[\k\ZkXi$ ZlXchl`\iZXjfeleZX`e]\i`fiXcfj*,Z\ekd\kifj%
j\d\[`Xek\leX\ogcfiXZ`e
gif]\j`feXc%<jXc^fXj1lef
@cld`eXiY`\e\cXlcX#\m`kXe[fcfji\Õ\afjpcXjqfeXj[\fjZli`[X[%
[\cfjfafji\Z`Y\leX`dX^\e Cf`[\Xc\jhl\\cglg`ki\k\e^XleX`eZc`eXZ`eXgifo`dX[X[\)'^iX[fj%8jj\\m`kX\c[fcfi[\
[\j\e]fZX[X#gficfhl\\cZ\$ Zl\ccfp[\\jgXc[XXck`\dgfhl\j\]Xmfi\Z\\cY`\e\jkXipcXgif[lZk`m`[X[%
i\Yifi\jgfe[\XelcXe[fcXm`$ , @ek\iZXdY`XicX[`jki`YlZ`e[\cfjXcldefj\e\cXlcXZfe\cÔe[\\a\iZ`kXijlm`j`eX[`jk`ekXj
j`egfi\j\faf%KXgXi\cjXef
[`jkXeZ`Xj%
ZfelegXiZ_\Xe`dXXcmX^f
Xgfe\ij\\e]leZ`feXd`\ekf% - <oki\dXicXjefidXj[\_`^`\e\m`jlXcZlXe[fj\kiXYXa\Xek\\cfi[\eX[fi1\cfaf[\ce`f\jdlZ_f
LeXjfclZ`ej\eZ`ccXpdlp d}jj\ej`Yc\XcX\ogfj`Z`e[\cXiX[`XZ`e[\cXgXekXccXhl\\c[\leX[lckf%
\]\Zk`mXjfYi\kf[fj`j\XkXaX
. :fejlckXiXcgk`ZfZlXe[fgX[i\jf\[lZX[fi\j[\k\Zk\e[`ÔZlckX[\j\ecXc\Zkf\jZi`kliX#Zfdfj\$
[liXek\cfjj\`jgi`d\ifjXfj%
^l`icXc\ZkliXZfe\c[\[f#jXckXi[\i\e^ce#`em\ik`igXcXYiXj#gi\j\ekXi\iifi\j[\Zfg`XfdfjkiXi
E@zFJ:@9<IEyK@:FJ d\afid\dfi`XXl[`k`mXhl\m`jlXc%
/ 8ZklXiXek\gfj`Yc\jjekfdXj[\[\]\Zkfm`jlXc1g`Zfi#\jZfqfi#cX^i`d\ff\eifa\Z`d`\ekf[\cfj
CXji\Zfd\e[XZ`fe\j[\cfj fafj#fleXdXcXgfjkliX[\cZl\igff[\cXZXY\qXZlXe[fj\d`iX[\]i\ek\%
gk`ZfjgXiXcfje`fjhl\j\
gXjXedlZ_Xj_fiXjXek\\cfi$ 0 :fejlckXicfj[fcfi\j[\ZXY\qXgif[lZ`[fj[liXek\f[\jglj[\i\Xc`qXiXZk`m`[X[\j[\Z\iZX#pX
[\eX[fi#jfe1j`klXi\c\hl`gf hl\gl\[\j\ilej`^ef[\[\]\Zkfm`jlXc%
[\]fidXhl\\m`k\i\Õ\afjp ('<jk`dlcXiXZk`m`[X[\jXcX`i\c`Yi\pcfj[\gfik\jhl\i\hl`\iXem\id}jXcc}[\cXcfe^`kl[[\cfj
clZ\j[`i\ZkXj2ZfcfZXi\cdf$
YiXqfj%
e`kfigfi[\YXaf[\cXce\X[\
cfjfafj#pXleX[`jkXeZ`X[\
lefj,'Z\ekd\kifj2Zfej\$
^l`i leX Yl\eX i\jfclZ`e
[\cXgXekXccXpZfeÔ^liXicX
[\dXe\iXhl\hl\[\ZcXiXp
Zdf[Xj`eYi`ccfje`[\dX$
j`X[fjZfcfi\j 2lk`c`qXiÔckifj
p_XZ\ig\hl\fj[\jZXejfj
gXiXi\cXaXicXm`jkX%
)4 &## 02/'2!-!
ÓY^W :-'+
<ce`m\c[\`e^cjefcc\^XXcXgifYX[f
i$UõYUSPIKõINGLISwõ
½·<jhl\Xdj\d\[XdlpdXc\c`e^cj¾%CXZlXikXgXik\[\
cfj\jgXfc\jg`\ejXehl\ef\jk}eZXgXZ`kX[fjgXiXXgi\e[\i
`[`fdXj%<jk\\jlef[\cfj[XkfjfYk\e`[fjgfi\c<lifYXid\kif
XZ\iZX[\c[fd`e`f[\`[`fdXj\okiXea\ifj\ecfjgXj\jhl\
Zfe]fidXecXLe`e<lifg\Xphl\[\dl\jkiX#leXm\qd}j#hl\\c
e`m\cXcZXeqX[fgficfj\jgXfc\j[\aXdlZ_fhl\[\j\Xi%
;\jglj[\Z`\ekfj[\_fiXj[\ZcXj\j[\`e^cji\Z`Y`[Xj\ecX
\[lZXZ`efYc`^Xkfi`X#[\jglj[\dXZ_XZXicXlk`c`qXZ`e[\cXj
gi\gfj`Z`fe\j#[\i\gXjXiZlijfkiXjZlijfcfjm\iYfj`ii\^lcXi\jp
[\d\dfi`qXicXji\^cXj^iXdXk`ZXc\j[\c`[`fdX[\J_Xb\jg\Xi\%%%
cXdXpfiX[\cfj\jgXfc`kfj[\Xg`\j\ilYfi`qXiXegfik\e\ihl\
dXek\e\ileXj`dgc\Zfem\ijXZ`e`e]fidXcZfeleeXk`mf%:fdf
ZfekiXjk\#\jd}jhl\]i\Zl\ek\\eZfekiXij\Zfele\lifg\fhl\
Z_Xglii\XZfedlZ_XjfckliXel\jkif`[`fdXphl\j\aljk`ÔZX
[`Z`\e[fhl\j`^l`leZlijf[\\jgXfc%%%·[\jfcfki\jd\j\j
LeX[\[fj1el\jkifjXcldefj ` CXjXZk`kl[\j_XZ`X\c`[`fdX1
fefXgi\e[\ecfhl\j\c\j\e$ \c j\ek`[f [\c i`[Zlcf# kXe
j\Xfcfhl\j\c\j\ej\Xef XZ\eklX[fXcX_fiX[\_XYcXi
\jcfhl\e\Z\j`kXe% \e fkif `[`fdX# [`ÔZlckX \c
Xgi\e[`qXa\%
Cfj \og\ikfj \e cX dXk\i`X
XglekXeleXjZlXekXjZXljXj ` CX\mXclXZ`e[\cfXgi\e[`[f1
hl\\ogc`ZXe\jkXj`klXZ`e1 `eZcljfcfjgif]\jfi\jhl\]f$
d\ekXecXZfdle`ZXZ`efiXc
` CXd\kf[fcf^X1dlZ_Xjm\$ \e cX ZcXj\ X m\Z\j XZXYXe
Z\jcfjXcldefjj\gXjXed}j gfe`\e[fle\oXd\e\jZi`kf
k`\dgfc\p\e[f#\jZi`Y`\e[f k`gfk\jkf[\i\cc\eXi]iXj\j
p _XZ`\e[f \a\iZ`Z`fj hl\ ZfecXgXcXYiXZfii\ZkX %
Zfem\ijXe[f%
<ei\jld\e#hl`q}]Xck\Xj`d`$
` CX]XckX[\dfk`mXZ`e1 Xgi\e$ cXicX`[\X[\hl\\c_\Z_f[\
[\ile`[`fdX\o`^\\j]l\iqf# fcm`[Xij\[\cm\iYfXlo`c`Xi#
[`jgfj`Z`ep_fiXj[\gi}Zk`ZX2 lk`c`qXicXgi\gfj`Z`e\hl`mf$
ef\jjlÔZ`\ek\Zfe\jZlZ_Xi ZX[Xfef\dgc\XicX\ogi\j`e
[\]fidXgXj`mXXck\XZ_\i% `e^c\jXd}jfgfikleXefk`\e\
[\dXj`X[X`dgfikXeZ`Xj`\j$
` <ced\if[\Xcldefjgfi^il$ kfj\iifi\jef`dg`[\e\c^iXe
gf1ZlXe[fjfedlZ_fj\jkl$ fYa\k`mf1Zfdle`ZXij\\efkif
[`Xek\jgfiZcXj\\j`dgfj`Yc\ `[`fdX%
_XZ\ihl\gXik`Z`g\ekf[fj[\
leX]fidXXZk`mX%
<E9I<M<
7B=KDEI:7JEI
ÓY^W :-'+
GXjXigficX\ej\XeqXfYc`^Xkfi`X\eel\jkifgXjef^XiXek`qX\cXgi\e[`qXa\[\leXj\^le[Xc\e^lX%
8jcf[\dl\jkiXcfj[XkfjXiifaX[fjgfi\cGi`d\i@e]fid\9\ic`kqjfYi\\cljf[\`[`fdXj\e<jgXX#p
hl\i\jld`dfj\ecfjj`^l`\ek\jj\`jglekfj1
C8GIFD<J8;<Q8G8K<IF
( Jfcf+[\ZX[X('kiXYXaX[fi\j\jk}eZXgXZ`kX[fjgXiX_XYcXi\efkiXjc\e^lXj\okiXea\iXj%
½D\Zfdgifd\kfXhl\kf[f ) Pe`ZXd\ek\cXhl`ekXgXik\[\cXgfYcXZ`ek`\e\ZfefZ`d`\ekfj[\fkifj`[`fdXj%
Xcldef\jk\eZfe[`Z`fe\j[\
dXe\aXiZfeÕl`[\qcXc\e^lX * CXjdla\i\jk`\e\ed}je`m\cpZfefZ\ed}j`[`fdXjhl\cfj_fdYi\j%
`e^c\jXXcZfeZcl`icX\[lZXZ`e + Cfjd}jam\e\j#_XjkXcfj(.Xfj#jfecfjhl\gi\j\ekXeg\fie`m\c%
fYc`^Xkfi`X%<jd`Xgl\jkXg\i$
jfeXcZfej\^l`ihl\cXjam\e\j , Cfjhl\d}j`[`fdXjgiXZk`ZXejfecfj\jgXfc\j[\\[X[\jZfdgi\e[`[Xj\eki\cfj(/pcfj*,Xfj%
^\e\iXZ`fe\j\jgXfcXjj\Xe#
- <ce`m\cd\[`f[\`e^cj[\cfj\jgXfc\j#\eleX\jZXcX[\c(Xc('#\j[\+%
Xcd\efj#Y`c`e^\j¾%<jkX\jcX
gifd\jXhl\QXgXk\if`eZcl$
p\ejlgif^iXdX\c\ZkfiXc
phl\X_fiXc\kfZXZldgc`i%
GXiX Zfej\^l`icf# gifgfe\
hl\cXk\iZ\iXgXik\[\cXjXZ$
k`m`[X[\j[\gi`dXi`Xj\Xe\e
`e^cj#`eZfigfiXigif]\jfi\j
eXk`mfj\ej\Zle[Xi`Xp]XZ`c`$
kXicXj\jkXeZ`Xj[\Xcldefjp
gif]\jfi\j\e\c\okiXea\if%;\
dfd\ekf#kf[Xj\jkXjd\[`[Xj
Xe\jk}egfim\i%
¶P<EC8LE@M<IJ@;8;6
Jfcf\c(#+[\cfj_fdYi\j
p \c (#* [\ cXj dla\i\j \e
\c}dY`kfle`m\ij`kXi`fZld$
gc\ecfji\hl`j`kfjde`dfj
\e\c[fd`e`f[\c`e^cjgXiX
kiXYXaXi\eleX^iXedlck`eX$
Z`feXc%<jk\\jlef[\cfj[Xkfj
d}jZfekle[\ek\jfYk\e`[fj
\e\c`e]fid\G`^dXc`e#\cX$
YfiX[f i\Z`\ek\d\ek\ gfi
<dgc\f>cfYXcd\[`XZfe\c
fYa\k`mf[\ZfefZ\icXjZXljXj
[\cXj`klXZ`e[\gXif[\^iXe
gXik\[\cfjle`m\ij`kXi`fj%Cf
hl\g`[\e\e\jkXj\dgi\jXj
ef \j d}j hl\ leX g\ijfeX
hl\j\XZXgXq[\[\j\dg\Xi
jlkiXYXaf\e`e^cjZfecfj
d`jdfji\jlckX[fjhl\j`cf
_`Z`\j\\ejl`[`fdXdXk\ief#
Xlehl\[\m\q\eZlXe[fj\c\
fcm`[\\cm\iYfXlo`c`Xi%
)4 &## 02/'2!-!
ÓY^W :-',
LeX[\Z`j`e[`]Z`c
%NõBUSCAõDELõCOLEGIOõIDEAL
:f`eZ`[`\e[fZfecXgi`dXm\iX#d`c\j[\gX[i\j[\Y\ekfdXileX[\Z`j`eZX[Xm\qd}j[`]Z`c1\c\^`ile
Z\ekif\[lZXk`mf[\\eki\ledfeke[\fgZ`fe\j%8lehl\#\ecXgi}Zk`ZX#\jkXgfj`Y`c`[X[[\\c\ZZ`eef\j
kXeXdgc`X1cXjdXkiZlcXj\ecX\ej\XeqXgYc`ZX\jk}eZfe[`Z`feX[XjgficXi\ekX]Xd`c`Xi#cXgifo`d`[X[
[\cZ\ekifi\jg\ZkfXc[fd`Z`c`fpcXgi\j\eZ`X[\_\idXefj\e\cZfc\^`f%<eZlXekfXcfjZfc\^`fjgi`mX[fj
pZfeZ\ikX[fj#cX\jZXjX[`jgfe`Y`c`[X[[\gcXqXj\eXc^lefj[\\ccfjp#jfYi\kf[f#cfj^Xjkfjhl\`dgc`ZXe#
XZkXeZfdfÔckifj[\j\c\ZZ`e%<eZlXchl`\iZXjf#\o`jk\eleXj\i`\[\Zl\jk`fe\j]le[Xd\ekXc\jhl\cfj
gif^\e`kfi\j#Xek\j[\[\Z`[`ij\#[\Y\ek\e\i\eZl\ekX%
<ei\Xc`[X[#cXgfj`Y`$
c`[X[ [\ \c\ZZ`e ef \j kXe
Xdgc`XZfdfgl\[XgXi\Z\i#Xc
d\efj\ecX\ej\XeqXgYc`ZX1
cXi\ekX]Xd`c`Xi#cXgifo`d`[X[
XcZ\ekifi\jg\ZkfXc[fd`Z`c`f
pcXgi\j\eZ`X[\_\idXefj\e
\cZfc\^`fZfe[`Z`feXecXgfj`$
Y`c`[X[[\X[d`j`epi\[lZ\e
\cdXi^\e[\dXe`fYiX%
<ecfhl\j\i\Ô\i\XZfc\^`fj
gi`mX[fj p ZfeZ\ikX[fj# cX
\jZXjX[`jgfe`Y`c`[X[[\gcX$
qXj\eXc^lefj[\\ccfjpcfj
<E9I<M<
:?;P9K;IJ?ED;I<KD:7C;DJ7B;I
ÓY^W :-',
( ¶<jgYc`Zff\jgi`mX[f6<jkX\jcXgi`d\iX[\Z`j`ehl\_Xphl\kfdXi%DlZ_fjgX[i\jfgkXegfi
cfjZ\ekifjgYc`Zfjgfihl\Zfej`[\iXehl\cfjgif]\jfi\j\jk}ed}jZlXc`ÔZX[fjpgfihl\hl`\i\e
hl\jlj_`afjj\\[lhl\e\eleXdY`\ek\_\k\if^e\f%G\ifkXdY`ejfedlZ_fjcfjhl\e`j`hl`\iX
E<:<J@;8;<J<;L:8K@M8J j\gcXek\Xe\c[`c\dX1cXjXckXjkXi`]Xj[\Z\ekifjgi`mX[fjpZfeZ\ikX[fjcfjfYc`^XeX\c\^`icX
fgZ`ed}jYXiXkX#XcdXi^\e[\fkiXjZfej`[\iXZ`fe\j%
<e\cZXjf[\hl\j\hl`\iX
\jZf^\i \c d\afi Z\ekif \j$ ) ¶<ji\c`^`fjff\jcX`Zf6CX`ed\ejXdXpfiX[\cfjZ\ekifji\c`^`fjfjjfeZfeZ\ikX[fjfgi`mX[fj%
ZfcXi gXiX le Xcldef Zfe 8lehl\j\Z`\eXcXjc\p\j[\\[lZXZ`em`^\ek\j#Zl\ekXeZfelegifp\Zkf\[lZXk`mfgifg`ffi`\e$
e\Z\j`[X[\j\[lZXk`mXj#_Xp kX[f_XZ`XcfjmXcfi\jZi`jk`Xefj%<ecfjZ\ekifjcX`Zfj#gfijlgXik\#cfjmXcfi\jdfiXc\jj\[\jdXi$
hl\i\ZXYXi`e]fidXZ`eX[`$ ZXe[\cfji\c`^`fjfj%Cf`[\Xc\jhl\\jkX]fidX[\g\ejXij\XZf_\i\ek\ZfecXhl\\o`jk\\eZXjX%
Z`feXcXZ\iZX[\cfji\Zlijfj * ¶Hle`m\c[\]fidXZ`ek`\e\ejljXcldefj6<jkX\jleX[\cXjgi\^lekXjd}j[`]Z`c\j[\i\j$
dXk\i`Xc\jp_ldXefjZfecfj
gfe[\ipleX[\cXjd}j`dgfikXek\j%8gXik\[\Xc^lefj[XkfjZfdfcfji\jlckX[fj[\cXj\c\Zk`m`[X[
hl\Zl\ekX1[\gXikXd\ekf[\
j`\jhl\`dgXik\cfjZlijfjd}jXckfj fcXkiXp\Zkfi`X[\Xek`^lfjXcldefj¿\cYfZX$fi\aX\jcf
fi`\ekXZ`e#gif]\jfi[\g\[X$
hl\d\afi]leZ`feX%
^f^Xk\iXglk`ZX#gif]\jfi[\
Xl[`Z`epc\e^lXa\#XZZ\jfj + ¶Hlgifp\Zkfg\[X^^`Zfj`^l\e6KXe`dgfikXek\ZfdfZfefZ\icX]fidXZ`eXZX[d`ZXhl\
X[XgkX[fj#XjZ\ejfi#Zfd\[fi i\Z`Y\ecfj\jkl[`Xek\j\jjXY\i\cXdY`\ek\\e\chl\j\mXeX\[lZXi%CX\jZl\cXefjfcfkiXejd`k\
Zfe [`\kXj \jg\Z`Xc\j# j`ccXj ZfefZ`d`\ekfj#kXdY`eXpl[XX]fidXig\ijfeXj%Cfji\jgfejXYc\j[\cZ\ekifgl\[\e`e]fidXi#
X[XgkX[Xj¿ `eZcljfgfi\jZi`kf#[\ZdfkiXYXaXecfjccXdX[fjk\dXjkiXejm\ijXc\j1\[lZXZ`eXdY`\ekXc#gXiXcX
gXq#[\cZfejldf#m`Xc#\[lZXZ`ej\olXc¿
¶<;L:8I<J:8IF6
, ¶<jk}Z\iZX[\ZXjX6:lXekfd}jZ\iZXj\\eZl\eki\\cZ\ekif[\ZXjX#d}j]}Z`cj\i}`iXYljZXiXc
<em`XiXcfj_`afjXleZ\ekif e`f#d\efjj\ZXejXi}\e[\jgcXqXd`\ekfjpd}j]XZ`c`[X[k\e[i}XcX_fiX[\`ek\^iXij\\e\ccl^Xi
ZfeZ\ikX[f[\gi`dXi`Xjlgf$ fYXii`f[fe[\i\j`[\%
e\#[\d\[`X#d}j[\cki`gc\[\ - ¶:fehlj\im`Z`fjZl\ekX6<ckiXejgfik\\j]le[Xd\ekXcZlXe[fj\i\j`[\c\afj[\cZfc\^`f%<c
^Xjkfhl\dXe[XicfjXleZfc\$ j\im`Z`f[\Zfd\[fi#gfijlgXik\#Xpl[XXcX_fiX[\fi^Xe`qXi\c_fiXi`f]Xd`c`Xi%Fkifjj\im`Z`fj#
^`fgYc`Zf%<eleZfc\^`fhl\ Zfdf\c[\gXikXd\ekf[\fi`\ekXZ`e#\cj\im`Z`fd[`ZffcX\jZl\cX[\gX[i\jkXdY`e[\Y\ej\i
]leZ`feX[\df[fkfkXcd\ek\ mXcfiX[fj%
gi`mX[fj`ejlYm\eZ`fe\jfÔ$
Z`Xc\j #cXjZ`]iXjj\[`jgXiXe# . ¶:dfjfecXj`ejkXcXZ`fe\j6<c\jkX[f[\cXjXlcXj#[\cfj\jgXZ`fj[\al\^fp[\cfjXj\fjjfe
pcc\^XeXdlck`gc`ZXigfi(' Xc^lefjXjg\Zkfjhl\j\mXcfiXeZfe]XZ`c`[X[[}e[fj\leXml\ckXgfi\cZfc\^`f%8[\d}j#\cXlcX[\
\cgi\Z`f[\lefZfeZ\ikX[fp `e]fid}k`ZXp\cXlcX[\`[`fdXjjfe[fjg`cXi\jY}j`Zfj\ecX\[lZXZ`efYc`^Xkfi`X%
gfi),\c[\leZ\ekifgYc`Zf% / ¶:l}ekfefjmXXZfjkXi6?Xphl\`e]fidXij\Zfe\oXZk`kl[[\cZfjk\[\cXdXkiZlcX#Zfd\[fi#
<ej\Zle[Xi`X#cfjgi\Z`fjjfe
kiXejgfik\#XZk`m`[X[\j\okiX\jZfcXi\j#j\im`Z`f[\gj`Zcf^f#\oZlij`fe\j#dXk\i`Xc¿gXiXhl\ef
legfZfd}j\c\mX[fjg\ifj\
_XpX[`j^ljkfj`e\jg\iX[fjXÔeXc[\d\j%
dXek`\e\cXd`jdXk\e[\eZ`X%
<eZlXchl`\iZXjf#ef_XZ\]XckX 0 ¶HlXZk`m`[X[\j\okiX\jZfcXi\jk`\e\e6:lXekXd}jmXi`\[X[pZXc`[X[f]i\qZXe#d\afi%:cXj\j
i\Zfi[XiXhlhl\gX^Xid}j [\dj`ZX#[XeqX#`[`fdXj#`e]fid}k`ZX#k\Xkif#al\^fj#kZe`ZXj[\\jkl[`f¿cXf]\ikXgl\[\j\idlp
ef\hl`mXc\X^XiXek`qXileX Xdgc`X%?Xphl\`e[X^XikXi`]Xj#_fiXi`fjp]fidXZ`e[\hl`\e\jcXj`dgXik\e%
dXpfiZXc`[X[[\\ej\XeqX%
('¶:l}ekXjgcXqXj_Xp6;\j^iXZ`X[Xd\ek\#\jkX\jleX[\cXjgi\^lekXj`e`Z`Xc\jhl\_Xphl\_XZ\i$
j\gXiXX_fiiXij\ZfekiXi`\[X[\jp\e]X[fj%J`\cZfc\^`f\eZl\jk`ek`\e\leed\if[\jfc`Z`kl[\j
hl\ki`gc`ZX\ced\if[\gcXqXj¿hl`q}j\Xd\afiXj\^liXij\cXdXkiZlcX\efkifZ\ekif%
)4 &## 02/'2!-!
ÓY^W :-'-
CXjXZk`m`[X[\j\okiX\jZfcXi\j
!LõSALIRõDEõCLASE
½·EfmXpd\[`Z\hl\j\XYlii\\eZcXj\[\pl[f:fecfhl\d\Zl\jkXcc\mXicfki\j[XjXcXj\dXeX#pZfecf
hl\d\_lY`\j\^ljkX[f_XZ\icfZlXe[fpfk\eXjl\[X[¾%8j[\]iljkiX[fjj\\eZl\ekiXeZfe]i\Zl\eZ`X
cfjgX[i\jhl\#[\jglj[\_XZ\ile\j]l\iqf\Zfed`Zfp[\fi^Xe`qXZ`eZfej`[\iXYc\#[\jZlYi\ehl\jl
_`afefXgifm\Z_XcXjZcXj\j[\cXjkXi[\j½gfihl\efcfdfk`mXe¾%<efZXj`fe\jXcfjgX[i\jj\c\jfcm`[X
gi\^lekXic\jZl}c\jjfejljgi\]\i\eZ`XjXek\j[\XglekXicfj2fkiXjm\Z\j#\j\cgifg`fe`f\chl\j\
\eZXgi`Z_XZfeleXXZk`m`[X[XcXhl\ef\jZXgXq[\Xj`jk`icXjki\jgi`d\iXjj\j`fe\j2p#ZX[Xm\qZfed}j
]i\Zl\eZ`X#kXdY`efZlii\hl\cXXZk`m`[X[]iXZXjXgfihl\\cZ_XmXc\jk}jXkliX[fpefgl\[\d}j%Cle\jp
d`iZfc\j#g`ekliX2dXik\jpal\m\j#]lkY`kf2p\cm`\ie\j#g`jZ`eX%JldX[XjXcXjZ`eZf_fiXj[`Xi`Xj[\ZcXj\j#
Xck`\dgfhl\`em`\ik\\ekiXejgfik\pZfd\[fip\ce\Z\jXi`fgXiX_XZ\icfj[\Y\i\j¿efc\hl\[Xe`le
d`elkfgXiXXYlii`ij\%<j\\j\cfYa\k`mf#¶ef6Hl\Xgifm\Z_\kf[XjcXj_fiXj[\c[X%
<CGI@E:@G@F;<C<HL@C@9I@F ) LeXm\q\jZf^`[XcXXZk`m`[X[#efc\g\id`kXjhl\cXXYXe[fe\%8cd\efj#_XjkXhl\XZXY\\cki`d\j$
ki\%<jefidXchl\efj\gXecfhl\c\j^ljkXphl\e\Z\j`k\egifYXimXi`XjXck\ieXk`mXj_XjkX[Xi
8cX_fiX[\mXcfiXij`cXXZ$ ZfeleXZfecXhl\[`j]ilk\e%G\ifZXgi`Z_fj#cfjaljkfj%8[\d}j#\jleXYl\eX]fidX[\Xgi\e[\icX
k`m`[X[\okiX\jZfcXi\ecXhl\ `dgfikXeZ`X[\dXek\e\ileZfdgifd`jf`eZcljf\edfd\ekfj[\ZXejXeZ`ff[\j`clj`e%
\jk}dXki`ZlcX[fkl_`af\jcX * EfcfjfYi\ZXi^l\j%<j`dgfikXek\hl\cXjZcXj\j\okiX\jZfcXi\jefjlg\i\ecXj+f,_fiXjj\dXeX$
d}jX[\ZlX[X#g`\ejX\eki$
c\j%Lee`fef\jk}gi\gXiX[fgXiXjfgfikXileXafieX[X[\X[lckf%
d`efj[\Zfdgc\d\ekXi`\[X[#
\j[\Z`i1 + G\ifkXdgfZfc\[\a\jj\ileXYlii`[f1j`\ck`\dgfc`Yi\j\cfgXjX[\cXek\[\cXk\c\m`j`eZfd`\e[f
gXjk\c`kfjfal^Xe[fXcXm`[\fZfejfcXZfeZXiX[\gb\i¿ZfikXZfecXj`klXZ`epgil\YXXhl\giXZ$
` J`j\kiXkX[\leZ_XmXcdlp k`hl\Xc^leXXZk`m`[X[hl\cfdfk`m\%
`ehl`\kf#c\m\e[iXY`\egiXZk`$
, @ek\ekXifdg\iZfecXilk`eX%PXj\gXjXleXj),_fiXjj\dXeXc\jZfecfjd`jdfje`fj[\cXZcXj\
ZXiXc^leXXZk`m`[X[[\gfik`mX
hl\c\g\id`kXZXeXc`qXikf[X [liXek\('d\j\jXcXf2j`X[\d}jZfdgXik\cXjXZk`m`[X[\j\okiX\jZfcXi\j\`eZcljfcfjZXdgX$
\jX\e\i^Xhl\XZldlcXXcf d\ekfj[\m\iXef¿jldle[f[\i\cXZ`fe\jjfZ`Xc\jj\m\i}dlpc`d`kX[f%J`\dgi\hl\j\Xgfj`Yc\#
cXi^f[\c[X#ZfdfcXjXik\j c\m\e[i}Y`\eZXdY`Xi[\X`i\jp[\ZfdgX\ifj%
dXiZ`Xc\j# cX eXkXZ`e f cX - EfcfZXjk`^l\jXd\eXq}e[fcfZfejXZXicf[\cXXZk`m`[X[\okiX\jZfcXi1]fidXgXik\[\jl[\jXiifccf
_g`ZX% p#j`\jk}Y`\e\jZf^`[X#c\Xpl[XXZfej\^l`ijl\hl`c`Yi`fg\ijfeXc%J`Xlee`fe\im`fjf#gfigfikXi$
j\dXc#j\c\hl`kX[\cXZcXj\[\YXcfeZ\jkf#\jd}jhl\gifYXYc\hl\jlZfe[lZkXZX`^X\eg`ZX[f%
` J`\jkXdfjXek\lee`fdlp
`ek\c\ZklXc#\j[\Z`i#gfZf[X[f . <m`kX\cj\o`jdf1XcXje`Xjc\jm`\e\dlpY`\e\cpl[ff\c]lkY`kf#pXcfje`fj#\cgXk`eXa\f\c
XgXik`Z`gXi\eal\^fjdfm`[fj# YXcc\k%
pXglekXicfX]kYfcc\jlgfe\
le ZXjk`^f# c\ gl\[\e m\e`i
Y`\eleXjZcXj\j[\dXelXc`$
[X[\j#al\^fj[\_XY`c`[X[f
dXhl\k`jdf%
` J`\jXc^l`\eXchl\c\Zl\jkX
\ekXYcXii\cXZ`fe\j#c\Xpl[Xi}
\c_\Z_f[\gXik`Z`gXi\ele
^ilgf[\k\Xkiff[\\ogi\j`e
ZfigfiXc%
` P\e^\e\iXc#[X[fhl\cXXZ$
k`m`[X[\jZfcXi\jdlpj\[\ekX$
i`X#j`\dgi\\jYl\efYljZXicX
Zfdgc\d\ekXi`\[X[\eXc^e
[\gfik\fal\^fXcX`i\c`Yi\
hl\i\Zl\i[\hl\cXjg`\ieXj¿
·\o`jk\e
)4 &## 02/'2!-!
ÓY^W :-'.
CXj\eki\m`jkXj\eki\gX[i\jpgif]\jfi\j
(OYõCITAõCONõELõTUTOR
½CfjgX[i\j[\cfjd\afi\j\jkl[`Xek\jjfecfjhl\d}jZ`kXjg`[\eXcfjklkfi\j#cXj]Xd`c`Xj[\cfjd}j
ZfeÕ`Zk`mfjjfecfjhl\eleZXXgXi\Z\egfi\cZ\ekif\jZfcXi¾%<jk\\jleZfefZ`[fkg`Zfhl\Z`iZlcX
gficXjjXcXj[\gif]\jfi\j[\Zfc\^`fj\`ejk`klkfjphl\j\Zldgc\\elejfigi\e[\ek\^iXeed\if[\
fZXj`fe\j%P\jhl\#Xg\jXi[\hl\cXdXpfiXi\ZfefZ\cXlk`c`[X[[\hl\]Xd`c`XpZ\ekif\jZfcXi\jke
Zffi[`eX[fj#efj`\dgi\\j]}Z`c\eZfekiXileX_fiXple[X\e\chl\Z`kXij\gXiX_XYcXi[\k\dXjef
j`\dgi\X^iX[XYc\j%
` Cfd}j`dgfikXek\\jXZX$
YXicX\eki\m`jkXZfeXc^leXj
<E9I<M<
µ:;GKxL7CEI7>78B7H5
ÓY^W :-'.
MXc\cXg\eXZfeZ\ikXicX\eki\m`jkXZfeXc^f[\k`\dgfgXiXhl\\cklkfigl\[Xi\Zf^\i`e]fidXZ`e[\c
i\jkf[\cgif]\jfiX[f#gfilecX[f#pgXiXhl\[\j[\cX]Xd`c`Xj\fYj\im\ZfedXpfiXk\eZ`e\ck`\dgf
j\dXeXchl\[\[`ZXX_XZ\icfj[\Y\i\j#cXj[`ÔZlckX[\jhl\\eZl\ekiX\ejlj\jkl[`fjfjl\jkX[f[\
8CD<EFJ#LE8M<Q }e`dfp\og\ZkXk`mXjZfe\cZlijf%
)4 &## 02/'2!-!
ÓY^W :-'/
:cXj\jgXik`ZlcXi\j
4ODASõLASõVENTAJASõYõALGUNOSõ
INCONVENIENTES
½<jkfpgX^Xe[fle[`e\iXcgficXXZX[\d`XXcXhl\mXkf[XjcXjkXi[\j#¶Zdf\jgfj`Yc\hl\d`_`afj`^X
jljg\e[`\e[fkf[f6¾%<jkXgi\^lekX#hl\j\]fidlcXedlZ_fjgX[i\j[\j\jg\iX[fjgfi\c^Xjkf`ek`c[\
k`\dgfp[\[`e\if\eXgfpfj\ok\iefj#k`\e\mXi`Xji\jgl\jkXj%<egi`d\icl^Xi#gl\[\hl\_XpX]XccX[fcX
dfk`mXZ`e%J`\c\jkl[`Xek\efdl\jkiXe`e^e`ek\ij\eXgifm\Z_XicXfgfikle`[X[hl\jlgfe\ZfekXi
Zfelegif]\jfigXik`ZlcXi#Zfekf[XgifYXY`c`[X[mXXj\ile]iXZXjf%;`^Xdfjhl\cX]idlcX½d}j[\
cfd`jdf¾#j`eZXdY`XicXXZk`kl[[\gXik`[X#eleZX]leZ`feX%<ej\^le[fcl^Xi#gl\[\hl\\c\jkl[`Xek\
j\_XpXZfeÔX[fp_XpX[`jd`el`[fjli`kdf[\kiXYXaf\e\cZfc\^`fg\ejXe[f½pXcf_Xi\ecXZcXj\
gXik`ZlcXi¾%P[\j[\cl\^f\jkXkXdgfZf\jleXYl\eX\jkiXk\^`X%LeXk\iZ\iX_`gk\j`jXek\\c]iXZXjf
[\XZX[\d`Xjpgif]\jfi\jgXik`ZlcXi\j_Xphl\YljZXicX\e\cje[ifd\[\ce`fg\idXe\ek\d\ek\
XgfpX[f%?Xp\jkl[`Xek\jhl\i\Z`Y\e#[\j[\jljgi`d\ifjXfj[\Zfc\^`f#leXXpl[XZfejkXek\gfigXik\
[\]Xd`c`Xi\j#gif]\jfi\j[\Xgfpfpgif]\jfi\jgXik`ZlcXi\j#[\df[fhl\cc\^Xledfd\ekf\ehl\jfe
`eZXgXZ\j[\kiXYXaXi[\dXe\iXXlkefdXj`efk`\e\eXle^lXi[`XXjlcX[f%
<ekf[fZXjf#cXj\jkX[jk`ZXj (%<ej\XeXfi^Xe`qXij\#XgcX$ G\if kXdY`e \o`jk\e lefj ,%Hl\ j\ hl\[\e jfcf \e
i\Xc`qX[Xjgfi\c@E:<@ej$ e`ÔZXij\pXj\iZfejkXek\\ecX ZlXekfji`\j^fj%Jfe\jkfj1 cX \o`^\eZ`X [\c \jkl[`f j`e
k`klkf EXZ`feXc [\ :Xc`[X[ Zfej\ZlZ`e[\lefYa\k`mf% \ej\Xi\jkiXk\^`Xj[\i\jfcl$
p<mXclXZ`e \ejl`e]fid\ (%Hl\ j\Xe leX gi[`[X [\ Z`e[\gifYc\dXj#]fidXj[\
CXj XZk`m`[X[\j [\c Xcldef )%F]i\Z\eXgfpfgXiXjlg\$ k`\dgfp[\[`e\if%<c_\Z_f[\ fi^Xe`qXicXdXk\i`XfkZe`ZXj
]l\iX[\c_fiXi`f\jZfcXii\m\$ iXi [`ÔZlckX[\j \jg\ZÔZXj hl\leXg\ijfeX_XpXZlijX[f [\kiXYXaf`ek\c\ZklXc%
cXehl\jfedlZ_fjcfjgX[i\j \eleXdXk\i`XdXk\d}k`ZXj# leXZXii\iX#f`eZcljfhl\j\gX
hl\Zfe]XeXm\Z\jZ`\^Xd\e$ `e^cj¿ gfid\[`f[\cXgi}Z$ dlZ_fjfYi\leX[\k\id`eX[X -%Hl\efj\XeZXgXZ\j[\df$
k\ \eXZX[\d`Xjpgif]\jfi\j k`ZX[\dkf[fjf\jkiXk\^`Xj dXk\i`X#ef\j^XiXekX[\hl\ k`mXie`[\dXek\e\iXZk`kl[\j
gXik`ZlcXi\jgXiXhl\[\ele \ÔZXZ\j% j\XleYl\egif]\jfi% gfj`k`mXj_XZ`X\c\jkl[`f#[Xe$
\dglaeXcXmXeZ\\jZfcXi[\ [fcl^XiXleZc`dX[\k\ej`e
jlj_`afj%<eZfeZi\kf#le() *%8pl[XeXgi\gXiXicfj\o}$ )%Hl\j\alek\e[\dXj`X[fj \`dgfj`Z`eZfek`elf%
[\cfjXcldefj[\gi`dXi`Xp d\e\j#X[`jki`Yl`icXdXk\i`XX Xcldefjpal\i^l`jkXj\ccfj %
le)'[\cfjXcldefj[\<JF cfcXi^f[\cki`d\jki\#Xef[\$ <ci\jlckX[fgl\[\j\i\cd`j$ .%Hl\g\id`kXehl\j\Zi\\le
i\Z`Y\eXgfpf\ok\ief%8Z\iZX aXikf[fgXiX\cck`df[X¿ df hl\ j\ Zfej`^l\ \e leX XdY`\ek\[\[\jdfk`mXZ`ep
[\cXkXjX[\o`kff]iXZXjf ZcXj\fi[`eXi`XdXj`ÔZX[Xp [\½_fiX[\i\Zi\f¾%
efZfekXdfjZfe\jkX[jk`ZXj% +%Dfk`mXe _XZ`X \c \jkl[`f j`eZfekifc1le[\jXjki\%
G\ifi\jlckX`ek\i\jXek\Zfe$ [\j[\\cdfd\ekf\ehl\j\ /%Hl\cfjgX[i\jZi\Xehl\gfi
kiXjkXi\jkXi\Xc`[X[Zfefkif XcZXeqXei\jlckX[fjgfj`k`mfjp *%Hl\]XZ`c`k\e\e\oZ\jf\ckiX$ gX^Xiledfeke[\[`e\ifXc
[Xkfjfigi\e[\ek\1\c*([\ \m`kXe[\jZfc^Xij\[\cZlijf% YXaf[\cfj\jkl[`Xek\jfhl\ d\jgfi\jXjZcXj\j\cgifYc\$
cfjXcldefj[\+%²[\<JFZfe$ cc\^l\e`eZcljfX_XZ\ic\jcfj dX[\cXjefkXj[\jl_`afmXX
Ô\jXehl\ef[\[`ZXeeX[Xf ,%I\]l\iqXecfjZfek\e`[fj# [\Y\i\j½gXiXXZXYXiXek\j¾f \jkXijfclZ`feX[f%
d\efj[\leX_fiXX\jkl[`Xi `eZcljf \e mXZXZ`fe\j# g\i$ ½gfihl\\jcXe`ZXdXe\iX[\
\eZXjX%<e\jkfjZXjfj¿¶gX^Xi d`k`\e[fcX\ekiX[X\eZlijfj hl\cfjcc\m\Y`\e_\Z_fj¾% <e[\Ôe`k`mX#cXjZcXj\jgXik`Zl$
Xlegif]\jfi\jcXjfclZ`e6 jlg\i`fi\jZfedXpfij\^li`$ cXi\jgl\[\ejlgfe\ileYl\e
[X[pYXj\[\ZfefZ`d`\ekfj# +%Hl\Xc\jkl[`Xek\efj\c\ \dgla\gXiX\cXmXeZ\\jZfcXi
M\XdfjZl}c\jjfecXjm\ekXaXj cfhl\jlgfe\leXgi\m\eZ`e \o`aXle\jkl[`fg\ijfeXcgi\$ [\cXcldef¿fgXiXZfej\^l`i
[\cXjZcXj\jgXik`ZlcXi\j1 [\c]iXZXjf\jZfcXi% m`fpgfjk\i`fiXZX[XZcXj\% cXil`eX]Xd`c`Xi%
<E9I<M<
9ãCE;B;=?HKD8K;DFHE<;IEH
F7HJ?9KB7H
ÓY^W :-'/
8C>LE8J:@=I8J I\ZXYXe[f`e]fidXZ`e#g`[`\e[fi\]\i\eZ`Xj\cYfZXfi\aXjl\c\]leZ`feXidlpY`\e pXj\^li}e[f$
j\[\hl\\jXg\ijfeX\jk}ZXgXZ`kX[XgXiXcXjdXk\i`Xjhl\k`\e\hl\`dgXik`i%
` Cfj Xcldefj [\ gi`dXi`X
[\[`ZXe# \e \c ./ [\ cfj 9ljZXe[fXXc^l`\eefjfcfZfeZfefZ`d`\ekfj#j`efZfeXgk`kl[\jg\[X^^`ZXjp\dg}k`ZXj%<j
[\Z`i#hl\j\XZXgXq[\\jkXYc\Z\ileXYl\eXZfe\o`eZfe\cXcldefpdfk`mXicf\e\cXgi\e[`qXa\%
ZXjfj#d\efj[\[fj_fiXjX
jlj kXi\Xj \jZfcXi\j% <c (- G`[`e[fc\hl\efjfcfcfXpl[\X_XZ\icfj[\Y\i\j#j`efhl\c\\ej\\\jkl[`Xi%
e\Z\j`kXe d}j k`\dgf gXiX
_XZ\icfj[\Y\i\j%<eZlXekfX <eZXjf[\d\efi\j[\()Xfj#\jgi\]\i`Yc\YljZXiledX\jkif%Gficf^\e\iXc#jljZfefZ`d`\ekfj
cfj\jkl[`Xek\j[\j\Zle[Xi`X# XZ\iZX[\cXdfk`mXZ`e#cXjkZe`ZXj[\\jkl[`fpfkifjXjg\Zkfj\jZfcXi\jjfedXpfi\jhl\cfj[\
cfjgfiZ\ekXa\jjfe[\c,/p fkifjgif]\j`feXc\j%<eZXjf[\Xcldefj[\<JFfe`m\c\jjlg\i`fi\j#_Xphl\YljZXilec`Z\eZ`X[f
[\c*+#i\jg\Zk`mXd\ek\% hl\X[\d}jgfj\XZ`\ikXjXgk`kl[\jg\[X^^`ZXj%<j[\Z`i#½hl\j\gX\ogc`ZXi¾%
` <cXgfpf\ok\ief\jdXpfi
\ecfj\jkl[`Xek\j[\Z\ekifj
gi`mX[fj )' hl\ \e cfj
gYc`Zfj() %
` ?Xpd}jXcldefj[\<JF[\
Z\ekifjgYc`Zfjhl\i\Z`Y\e
Xgfpf]Xd`c`Xi(( hl\[\
Z\ekifjgi`mX[fj0 %
)4 &## 02/'2!-!
<?9>7
:.
2ELACIÀNõ
ENTREõ
PADRESõEõ
HIJOS
CX]Xd`c`X\j\ccl^Xi[fe[\
cfje`fjXgi\e[\ecfjmXcfi\j
Y}j`Zfjhl\mXeXdfc[\Xi
jl]fidX[\XZklXip[\
i\cXZ`feXij\Zfe\cdle[f%
<[lZXicfj\e[\i\Z_fjp\e
[\Y\i\j#dXiZXe[fi\^cXj\
`dgfe`\e[f[\m\q\eZlXe[f
leef2i\]fiqXic\jcXmfclekX[#
\c\j]l\iqfp\c\hl`c`Yi`f2
p#jfYi\kf[f#f]i\Z\ic\j
^iXe[\j[fj`j[\ZXi`fp
XgfpfZfejkXek\i\gi\j\ekXe
cXjd\afi\j^XiXekXj[\ZXiX
Xc]lklif[\\jfj_`afj%<jkfj
XikZlcfjf]i\Z\eXc^leXj
gifgl\jkXjXcX_fiX[\
\e]i\ekXij\XcXXgXj`feXek\
kXi\X[\\[lZXi%
)4 &## 02/'2!-!
ÓY^W :.'
CXX[XgkXZ`eXcX\jZl\cX(
/PERACIÀNõRETORNO
½G\ifZdf#¶efjfppf\ce`fd}j
`dgfikXek\[\cdle[f6¾%D}jfd\efj
\jk\gl\[\j\i\cg\ejXd`\ekf[\le
Xcldef[\ki\jXfjhl\cc\^Xgfigi`d\iX
m\qXleXlcXi\gc\kX[\e`fj[\jld`jdX
\[X[Xcfjhl\cXgif]\c\j_XZ\kXekfZXjf
ZfdfXc%?XjkX\cdfd\ekf_XYXj`[f
\ci\p[\cXZXjX#·pX[\d}j_`afe`Zf#
p[\i\g\ek\[\jZlYi\Zfeki`jk\qXhl\
k`\e\hl\i`mXc`qXiZfe\jfjg\hl\fj
j\i\jgXiXZfej\^l`ihl\\cX[lckfc\
_X^XZXjf%?XgXjX[f[\leXdY`\ek\
]Xd`c`Xi#\e\chl\k\eXXj\^liX[XcX
gifk\ZZ`ekfkXc#Xle\ekfief\e\c
hl\j\i\gXik\e[\]fidX\hl`kXk`mXcfj
al^l\k\j#cfjX]\ZkfjpcXjXk\eZ`fe\j%<e
\jk\d`jdfd`Zifdle[f#pXcfcXi^f[\
mXi`Xj_fiXj[`Xi`Xj#k\e[i}jljgi`d\iXj
\og\i`\eZ`XjZfdfj\ijfZ`Xc%M`m`i}
Xej`\[X[\j#[`j^ljkfjpiXY`\kXj2g\if
kXdY`eXc\^iXj#\dfZ`fe\jpdlZ_fj
al\^fj%<jlegifZ\jf`dgi\jZ`e[`Yc\
gXiXjlZi\Z`d`\ekf#·Xlehl\efefj[\Y\
\okiXXihl\ccfi\
<jkX\kXgXkXe[\c`ZX[X[\`e$ ZXjf#efj\kiXkX[\leXj`klX$
ZfigfiXZ`eXcXjXlcXj#jfYi\ Z`egXkfc^`ZXe`gi\fZlgXek\2
kf[f \e cfj gi`d\ifj Xfj d}jY`\e_Xphl\m\icfZfdf
[\m`[X#ZXljXgifYc\dXj[\ leXgil\YX[\]l\^fhl\_Xp
X[XgkXZ`eXc,[\cfje`fj hl\gXjXigXiXZi\Z\i%%%
pe`Xj[\\eki\*p/Xfj[\
\[X[%9`\e\e]fZX[f[\j[\\c
gi`eZ`g`f#\jk\g\if[fefk`\e\
gfihl[liXid}jhl\lefj
[Xj f hl`q} leXj j\dXeXj2
g\ifkXdY`e_Xpe`fjd}j
j\ej`Yc\jhl\e\Z\j`kXekf[f
leki`d\jki\gXiXX[XgkXij\X
cXel\mXi\Xc`[X[%<eZlXchl`\i
<E9I<M<
µGKxFE:;CEI>79;H5
ÓY^W :.'
J`j\hl`\i\]XZ`c`kXi\cgifZ\jf[\X[XgkXZ`e[\cfjd}jg\hl\fjXc\ekfief\jZfcXi#\jkXj
jfeXc^leXjZfjXjhl\j\gl\[\_XZ\i1
:I@J@J;<8E>LJK@8 GcXek\Xic\cXXj`jk\eZ`XXcZfc\^`fZfdflegi`m`c\^`f½·Hljl\ik\hl\pXmXjXcZfc\¾peleZXZfdf
Xc^fe\^Xk`mf½·PXm\i}j#pX#ZfdfcXgif]\k\mXXgfe\iXXe[Xi¾%
?XpXc^lefje`fjhl\#Xcm\ij\ DfjkiXij\Xc\^i\pi\cXaX[f#jfYi\kf[fcfjgi`d\ifj[Xj[\ZcXj\%J`m\ZXiXjcXi^Xj#g\ejXi}hl\j\
j\gXiX[fj[\jljgX[i\j#cc\^Xe c\[\aX\elecl^XidXcf%
Xm`m`ileXm\i[X[\iXZi`j`j[\
Xe^ljk`X%<cZlX[ifZc}j`Zfj\ 8cX_fiX[\`iXi\Zf^\icf#\jZfem\e`\ek\j\idlpgleklXc%Cfji\kiXjfjgif[lZ\ej\ejXZ`e[\
[XZfed}j]i\Zl\eZ`X\ecfj XYXe[fef%J`j\fYj\imXhl\k`\e\cfjfafj\eifa\Z`[fjf`eZcljfhl\\jk}ccfiXe[f#\jd\afiefZfd$
kd`[fj p [\g\e[`\ek\j \e gX[\Z\icf%<jgi\]\i`Yc\_XZ\ic\Zfd\ekXi`fjjfYi\cfY`\ehl\j\_XgfikX[fpcXjl\ik\hl\k`\e\[\
\oZ\jf#ZfegX[i\jjfYi\gif$ \jkXi\eleXZcXj\kXeYfe`kX%
k\Zkfi\j hl\ c\j kiXejd`k\e
jlgifg`XXej`\[X[gfihl\X
<jkXi\eZfekXZkfZfejlgif]\jfifZl`[X[figXiXjXY\ij`j\`ek\^iXY`\epgXik`Z`gX\ecXjXZk`m`[X$
[\j%DlZ_Xjm\Z\j\c[`j^ljkfj\\mXgfiXZlXe[f[\jXgXi\Z\ecfjgX[i\j%
jlm\qj`\ek\ed`\[fXhl\j\
Xc\a\e[\jlcX[f%8d\[`[X :fekXic\Zl\ekfjjfYi\e`fjpe`Xjhl\\dg`\qXecX\jZl\cX#gXg}jpdXd}jhl\mXeXkiXYXaXip
hl\\ce`fj\Xe^ljk`Xd}j# ml\cm\ecl\^fXi\Zf^\iXjlje`fj%
d}jj\gi\fZlgXecfjgX[i\j#
^\e\iXe[fleZiZlcfm`Z`fjf I\cXkXic\cXjgifg`Xj\og\i`\eZ`Xj`e]Xek`c\j#j`k`\e\\[X[gXiX\ek\e[\icXj1ZlXe[fcXji\Zl\i[\p
i\cXZ`fe\ZfecXjjlpXjgifg`Xj#j\j\ek`i}d}jkiXehl`cf%
\e\chl\j\ZfekX^`Xepi\kifX$
c`d\ekXecX]fY`X%8m\Z\j\j =l\iX[\c_fiXi`fc\Zk`mf#\jdlpk`chl\hl\[\Xc^e[XZfeXc^eZfdgX\if[\ZcXj\2Xcj`^l`\ek\
leX\og\i`\eZ`X[\jX^iX[XYc\ [Xk\e[i}d}j^XeXj[\`igXiXi\\eZfekiXij\Zfec%
\e\cZfc\^`fcXhl\XZkXZfdf
[\j\eZX[\eXek\[\cXZi`j`j[\ <m`kXihl\kiXjefZ_\fhl\j\c\mXek\gficXdXXeXZfe\ck`\dgf[\dXj`X[faljkf1\jkXj`klXZ`e
Xe^ljk`X% gif[lZ\e\im`fj`jdf#dXc_ldfipdXpfi\j[`ÔZlckX[\j[\X[XgkXZ`e%
P\jkf\jcfhl\efj\[\Y\_XZ\i1
:äDF8:KL8I
8cXi^Xi\cdfd\ekf[\cXj\gXiXZ`e1_Xphl\j\iX]\Zklfjf#g\ifj`e\oZ\jfj#pjfYi\kf[f#Yi\m\%J`
CX]fY`X\jZfcXijl\c\`iXZfd$ cX[\jg\[`[Xj\XcXi^X[\dXj`X[f#j\Zfem`\ik\\eleXkfikliXgXiXlefjpfkifj%8[\d}j#cfje`fj
gXX[X#X[\d}j[\ci\Z_XqfX \ej\^l`[XXgi\e[\eXljXicXjgXkXc\kXjZfdf\jkiXk\^`XgXiXi\kiXjXicX\ekiX[XXcXZcXj\%
Xj`jk`iXZcXj\#[\Xc^lef[\
\jkfj jekfdXj1 [fcfi XY[f$ <e^XXicfZfe]iXj\j[\ck`gf1½·MfpXXgXiZXi\cZfZ_\pX_fiXml\cmf¾%KXdgfZfj\[\Y\[\jXgXi\$
Z\ij`ed}j#pXhl\gl\[\gifmfZXic\j\ejXZ`e[\Xe^ljk`Xp[\XYXe[fef%
d`eXc#md`kfj#[fcfi[\ZX$
Y\qX#[\Y`c`[X[pgXc`[\q#hl\ ;\aXiXce`f\eZXjXgfihl\k`\e\d`\[f[\`iXcZfc\^`f%:fe\jkfjfcfj\Zfej`^l\XcXi^Xid}j
XgXi\Z\egficXdXXeXXek\j cXj`klXZ`e[\jl]i`d`\ekfpXgcXqXi\cgifZ\jf[\X[XgkXZ`e%J`[`Z\hl\k`\e\[fcfi[\YXii`^X#
[\`iXcX\jZl\cXp[\jXgXi\Z\e \ekfeZ\j_Xphl\cc\mXicfXcd[`ZfgXiX[\k\id`eXij`\jfi^}e`Zffgj`Zfc^`Zf%
cfjÔe\j[\j\dXeXp]\jk`mfj%
KXdY`e `dgc`ZX le d`\[f :i`k`ZXip[\jZXc`ÔZXi#[\cXek\[\ce`f#XcZfc\^`f#Xcfjgif]\jfi\j#XcZfd\[fi#XcXXjfZ`XZ`e[\
`iiXZ`feXc\jg\ZÔZfXhl\c\ gX[i\jfXcfjfkifjXcldefj%<jkXj`klXZ`e[\jZfeZ`\ikXXcg\hl\f#_XjkX\cglekf[\hl\gl\[\
_X^Xe[Xf\e\ci\Zi\f #jfZ`Xc X]\ZkXiXjl\hl`c`Yi`f\dfZ`feXcpi\e[`d`\ekf\jZfcXi%
Xhl\cf[\a\e\ei`[Zlcf l
fYj\j`mf$Zfdglcj`mfd`\[fX
j\i\ejlZ`X[f %<eZlXchl`\iX
[\\jkfjZXjfj#\oZ\gZ`feXc\j
\e cX gfYcXZ`e \jZfcXi# j\
i\Zfd`\e[X \c kiXkXd`\ekf
gj`Zfc^`ZfgfigXik\[\le
gif]\j`feXc%
)4 &## 02/'2!-!
ÓY^W :.(
CXX[XgkXZ`eXcX\jZl\cX)
0RUEBAõSUPERADA
Lee`fccfiXpZ_`ccX#[\j\jg\iX[f#gfijldX[i\2fkifg\idXe\Z\\jk}k`Zf\`e\ogi\j`mf\eleX\jhl`eX
[\cXlcX#j`e_XYcXiZfeeX[`\2plek\iZ\if#ZfeZXiX[\i\j`^eXZ`e#XZXkXcXji[\e\j[\jljjlg\i`fi\jp
Zfcfi\X#fY\[`\ek\#jlÔZ_X[`[}Zk`ZX%JfcXd\ek\c\hl\[X\cZfejl\cf[\gf[\iX]\iiXij\XjlZfe\a`kf[\
cXjl\ik\%%%8lehl\cX\jZ\eXgl\[\gXi\Z\ilekXekf\oX^\iX[X#Xgi`eZ`g`f[\ZlijfZlXchl`\iX[\\jkfj
ZfdgfikXd`\ekfjgl\[\e[Xij\\eki\e`fjhl\Xe\jk}e\egc\efgifZ\jf[\X[XgkXZ`eXcX\jZl\cX
`e]Xek`c%CfjZXdY`fjjfedlZ_fj#pkXekf\ccfjZfdfjlj]Xd`c`Xj\og\i`d\ekXej\ek`d`\ekfj[\Xej`\[X[#
[\`eZ\ik`[ldYi\p[\d`\[fXek\cf[\jZfefZ`[f%;\Zdfj\i\jl\cmX\jkXj`klXZ`emXX[\g\e[\i#\e^iXe
d\[`[X#cXXZk`kl[]lkliX_XZ`XcfjXgi\e[`qXa\j\jZfcXi\j%
G\if \e ZlXekf kiXejZliiXe cfhl\mXXgXjXi[\jglj[\c gXiX \m`kXi ]iljkiXZ`fe\j p Z`Xj \jZfcXi\j# _XZ\ic\ gi\$
legXi[\d\j\j#cXdXpfiX i\Zi\ffhl\cX]Xd`c`XmXX [`j^ljkfj `ek`c\j% <e \j\ ^lekXjjfYi\\cgif]\jfiX[fp
[\cfjg\hl\fj\jkXi}eXZfj$ m\e`iYljZXicf[\jglj[\cX dfd\ekf [\ i\\eZl\ekif# mXcfiXicfjkiXYXafji\Xc`qX[fj
kldYiX[fjXjlel\mXilk`eX _fiX[\cZl\ekf%%% XZf^\icfjX]\ZklfjXd\ek\g\if hl\j\cc\m\egXiXZXjX%
Zfk`[`XeX%PXhl\ccfjXcfjhl\ fYm`Xe[fjljhl\aXjpZ\eki}e$
Xec\jZl\jkX\jk}eXglekf[\ G\ifj`\jkfjgi`d\ifjj`^efj [fj\\ecfhl\_`Z`\ife#\ecfj
Zfej\^l`icf% [\efidXc`qXZ`eXeefXgX$ ZfdgX\ifj%%% 5G8I8J89<IDÝJ
i\Z`\ife# \jkXj jfe Xc^leXj
<jkXjjfeXc^leXjg`jkXjgXiX gifgl\jkXj hl\ j\^l`i gfi ` @ek\i\jXij\gfikf[fcfhl\ FgifZ\jf[\X[XgkXZ`e%<k`%%%¶mXj}
jXY\ij`lee`f\jk}\e\cZX$ gXik\[\jlj]Xd`c`Xi\j1 Zl\ek\XZ\iZX[\jlj\og\i`\e$ \jZfcX6OlekX[\>Xc`Z`X#)''.
d`ef[\co`kf1
` ;\jg\ikXiXce`fZfek`\d$
` <jZXgXq[\gXjXicXdXXeXf gf[\jfYiXgXiX[\jXpleXip
cXafieX[Xj`egi\^lekXigfijlj m\jk`ij\ZfeZXcdX%<jd\afi
gX[i\jp\jZXgXq[\[\jg\[`ij\ efXe[XiZfegi`jXj%
kiXehl`cXd\ek\[\\ccfj%
` ?XZ\i[\jg\[`[XjX]\Zk`mXj
` PX_X\jkXYc\Z`[fmeZlcfj g\ifZfikXj#ZfekiXehl`c`[X[#
Zfejlj`^lXc\jpZfecfjZl`$ j`e d\ek`i jfYi\ \c k`\dgf
[X[fi\jfdX\jkifj% hl\ j\ mX X kXi[Xi \e m\e`i#
dfjkiXe[f[\jgi\fZlgXZ`e
` <j ZXgXq [\ \ogcfiXi cfj pefidXc`[X[%
dXk\i`Xc\jpfi`\ekXij\\ecfj
\jgXZ`fj% ` Gfidlpg\hl\fhl\j\X#
_Xphl\\ogc`ZXic\hl\[\jglj
` J\\eki\k`\e\ZfedXk\i`Xc\j \cgX[i\fcXdX[i\mfcm\i}X
[\al\^fpj\`dgc`ZX\ecXjkX$ i\Zf^\icf%
i\Xj\jZfcXi\j%
` CX dXiZ_X [\ cX g\ijfeX
` ;\aX[\X]\iiXij\XcfjccXdX$ XZfdgXXek\ eleZX [\Y\
[fj\c\d\ekfjkiXej`Z`feXc\j j\i j`e Xm`jf# d`\ekiXj \jk}
le al\^f# le dl\Zf# le [`jkiX[f#pXhl\#j`\ce`fj\
^fiif%%% % j`\ek\\e^XX[f#ef\j]}Z`chl\
ml\cmXXZfeÔXi%
` :fefZ\ cfj i`kdfj [\ cX
afieX[X1 jXY\# gfi \a\dgcf# ` I\Zf^\icfZfegleklXc`[X[
<E9I<M<
8;@JK@EK8J<;8;<J#
;@=<I<EK<JK@<DGFJ
µFEHGKxBBEH7D5
ÓY^W :.(
8m\Z\j#ZfdfX[lckfj#efjZl\jkXgfe\iefj\ecXg`\c[\cfjd}jg\hl\fjpefXZXYXdfj[\\ek\e[\i
hl\cfgXj\ekXedXc\ejlgifZ\jf[\X[XgkXZ`eXcXilk`eX\jZfcXi%K\e`\e[f\eZl\ekXhl\cfe`Zf
hl\k`\e\ehl\_XZ\i\jal^Xi#Xgi\e[\iZfjXj[`m\ik`[Xj\`ek\iXZklXiZfejljZfdgX\ifj[\XlcX%%%
` ;\j[\ \c glekf [\ m`jkX ¶gfihlccfiXe6
gj`Zfc^`Zf#cc\mXiXleY\Y
d\efi[\/d\j\jXleX\j$ ?\XhllefjZlXekfjdfk`mfj1
Zl\cX`e]Xek`cefi\m`jk\\jg\$
Z`Xc\jZfdgc`ZXZ`fe\j#Xlehl\
CXj\ejXZ`e[\XYXe[fef#[\gi[`[X1½¶;e[\\jk}ed`jgX[i\j6¾%
[\j[\\cglekf[\m`jkX]j`Zf CX]XckX[\efZ`fe\jk\dgfiXc\jhl\g\id`kXeleX\jg\iXkiXehl`cX%½Cc\mfXhlleX\k\ie`[X[%%%¶ef
j\\eZl\ekiXZfe[`Z`feX[fgfi mfcm\iXm\icfjeleZXd}j6¾%
ZfekXiZfedlpgfZXj[\]\e$
jXj%8\jX\[X[Xg\eXjj\[X <c[\jZfefZ`d`\ekf[\c\jgXZ`f]j`Zf%½Efi\ZfefqZfeX[X#\jk\ef\jd`dle[f¾%
Zl\ekX[\cXYXe[fefpXZ\gkX CX`e\og\i`\eZ`X[\cXek\[\cXjkXi\Xj\jZfcXi\j1½¶Gfihlkf[f\jkXe[`]Z`c6¾%
YXjkXek\i}g`[f\cel\mfi`kdf
[\cX^lXi[\iX% CXj[`ÔZlckX[\jgXiXi\cXZ`feXij\Zfecfj`^lXc\j1½<j\\jleg\^ep\jXefhl`\i\[\aXid\jl
al^l\k\¾%
` ;\cfj/Xcfj(/d\j\jcfjY\$
YjjXY\ehl\cfjX[lckfjj\mXe
CX`dgfj`Y`c`[X[[\Zfejkil`ij\ledXgXZf^e`k`mf\jgXZ`Xc[\ccl^XipcX[`jkXeZ`Xhl\j\gXiXXcfj
e`fj[\jljZXjXj1½;\[e[\jXc[i}ekXekfje`fj¿¶efk`\e\eZXjX6¾%
X`i#g\ifefk`\e\eZcXifhl\
cl\^fmXeXi\^i\jXi%?Xp\o$ CXilgkliXZfecfj_}Y`kfjXc`d\ekXi`fj#[\c`dg`\qXf[\jl\f[\cXm`[X]Xd`c`Xi1½<jk\glik`\e\
g\ikfjhl\i\Zfd`\e[Xe\m`kXi ^ildfj#ef\jZfdf\c[\d`dX[i\¾%
cc\mXicfjXcX\jZl\cXgfigi`d\$
iXm\q\e\jk\g\if[fZik`Zf%
CXgi[`[X[\\c\d\ekfj[\gi`mXZ`[X[\ele\ekfief\ehl\gi`dXecfj\jhl\dXjZfc\Zk`mfjjfYi\
cfj`e[`m`[lXc\j1½¶:df\jhl\cfjal^l\k\jjfe[\kf[fj6Pfhl`\ifcc\mXicfjXd`ZXjX¾%
CXX[XgkXZ`ed}jjlXm\j\
gif[lZ\ \eki\ cfj ) p cfj + CXd\efiXk\eZ`egi\jkX[Xgfi\cgif]\jfiX[f%PXef\jleXXk\eZ`e
Xfj\ele\ekfief\[lZXk`mf \e\oZclj`mX%½<cgif]\efd\_XZ\e`ZXjf1j`d\_X^f[Xf#d\gfe\leXk`i`kXpj\fcm`[X[\d¾%
X[\ZlX[f%
Pgfi\jkfjdfk`mfjjli^\eXc^lefjZfdgfikXd`\ekfjgifYc\d}k`Zfjhl\cfjdX\jkifjp
` GXjX[X\jX]Xj\p_XjkXcfj
dX\jkiXj\jk}eXZfjkldYiX[fjXi\jfcm\i1
-Xfj#cX`eZfigfiXZ`eXcXj
8^XiiXij\Zfe]l\iqXXc]Xd`c`XiZlXe[fcc\^X\cdfd\ekf[\cXj\gXiXZ`e%<cZl`[X[fifdX\jkif
XlcXj ef k`\e\ gfi hl j\i eleZXXiiXeZXXcg\hl\f[\cfjYiXqfj[\jlgX[i\fdX[i\#j`efhl\[\aXhl\j\X\cgifg`f]Xd`c`Xi
Zfdgc`ZX[X%JfcXd\ek\[\Y\e \chl\]XZ`c`k\cXj\gXiXZ`e%
]Xd`c`Xi`qXij\Zfecfjel\mfj
gif]\jfi\jpZfdgX\ifj% 8^i\j`fe\j%8c^lefje`fj\jZfe[\elei\Z_XqfX\jkXi\ecX\jZl\cXX^i\[`\e[fg\^Xe[f#XiX$
Xe[ffk`iXe[f\cdXk\i`Xc %;\j[\cX\jZl\cXj\`e]fidXXcX]Xd`c`X[\cXXZk`kl[[\ce`fgXiXhl\
` Cfje`fjhl\pXk`\e\e.f ZfefqZXcXj`klXZ`epj\\jkXYc\qZXegXlkXjZfdle\j[\`ek\im\eZ`e%
d}jXfjefjl\c\egi\j\ekXe
gifYc\dXj[\X[XgkXZ`e#Xle$
Ccfifj%<jkX\jleXi\XZZ`ehl\Xm\Z\jj\[XgfiZfekX^`f#p\efZXj`fe\jj\XZfdgXX[\md`kfj%
<cdX\jkifjl\c\i\jgfe[\iZfeleXgifgl\jkXXkiXZk`mXfjfigi\e[\ek\hl\XYjfiY\cXXk\eZ`e[\
hl\j`\dgi\_Xp\oZ\gZ`fe\j1
cfjg\hl\fj%G\if#[\efgf[\iZXcdXiXce`f#gl\[\g\[`ic\Xc]Xd`c`Xihl\ml\cmXXcXlcX%
jfecfje`fj\oZ\j`mXd\ek\
Xg\^X[fj X cfj gX[i\j# cfj 8]\iiXij\cXleal^l\k\f½Xdlc\kf¾%<ce`fi\Zlii\XlefYa\kf]Xd`c`Xihl\c\[Xj\^li`[X[pXgfpf
hl\ cc\^Xe gfi m\q gi`d\iX X]\Zk`mf%8d\[`[Xhl\gXjX\ck`\dgf#\c[fZ\ek\cfXe`dXi}X[\jgi\e[\ij\[\c%
XcZ\ekiffXhl\ccfjgXiXcfj
hl\ \c Zfc\^`f \j ]l\ek\ [\ DXek\e\ij\hl`\kf\ele\jgXZ`f%<cg\hl\fXZ\gkX\jkXi\e\cXlcX#g\ifdl\jkiXleXXZk`kl[[\i\$
j`^eXZ`e#j\dXek`\e\XcdXi^\e#ZfdffYj\imX[fi%<e\cdfd\ekf\ehl\i\ZfefqZX\cXlcXZfdf
k\ej`egfi[`ÔZlckX[\j[\
lecl^Xij\^lifZfd\eqXi}cX`ek\iXZZ`feXi%;\Y\[}ij\c\k`\dgf%
Xgi\e[`qXa\#XZfjfgfigXik\
[\ZfdgX\ifj#\kZ% %
CfjXcldefjkXdY`eXZljXe
\c jXckf [\j[\ cX \ej\XeqX
gi`dXi`XXcXj\Zle[Xi`Xpcfj
ZXdY`fj[\gif]\jfi2\e\j$
g\Z`Xc#XgXik`i[\cfj()Xfj#
gl\[\e\dg\qXiel\mXj\kXgXj
ZfeÕ`Zk`mXj%<e\jk\g\if[f
\c[`}cf^fXY`\ikf\jcXd\afi
Xpl[X%
)4 &## 02/'2!-!
ÓY^W :.)
CXjefidXjhl\dXiZXecfjcd`k\j
%LõSECRETOõDEõ3UPERNANNY
¶<jk}jk\ekX[f[\ccXdXiXJlg\ieXeepgXiXcf^iXihl\klj_`afjk\_X^XeZXjf6J`\jkX\jklj`klXZ`e#
Xek\j[\_XZ\icfc\\ZfeXk\eZ`e\jkXjce\Xj%GXiXcfjhl\efjXY\e[\hl\jkXdfj_XYcXe[f#cXccXdX[X
Jlg\ieXeep\jleXgj`Zcf^Xhl\#XkiXmj[\legif^iXdX[\k\c\m`j`e#m`j`kXXgX[i\j\eXglifjZlpfj
_`afj#[\Xg\eXjlefjXfj[\\[X[#½j\c\j]l\ife[\cXjdXefj¾%P#\eleXjj\dXeXj#\jkXgif]\j`feXc[\
^\jkfj\m\ifZfej`^l\gfe\ifi[\e[fe[\_XYXZXfj%
Efj\c\_XZ\ZXjfpj\c\dXe[XXjlZlXikf%:lXe[f\jk[`jgl\jkfX_XYcXi[\]fidXkiXehl`cXpZ`m`c`$
;FE;<;@A<;@>F¿ qX[X#j\c\[\Y\gi\jkXiXk\eZ`ep#j`\jgfj`Yc\#j\Xk`\e[\jlg\k`Z`e%
) J\c\ccXdX[`\qm\Z\jgXiXhl\mXpXXZ\eXipef_XZ\e`ZXjf%
CXZf_\i\eZ`X\eki\cfhl\j\
[`Z\pcfhl\j\_XZ\[Xj\^l$ :fdgfikXd`\ekf\iie\f%:lXe[fj\XcX_fiX[\Z\eXi#_Xphl\ccXdXicfleXm\q#ZfdfdlZ_f[fj%J`
i`[X[pZfeÔXeqXXcfje`fj# ef_XZ\ZXjf#ZlXe[fgfiÔecc\^l\j\c\gfe\XZ\eXiXgXik\fj\c\[\aXj`egfjki\
gfihl\XjjXY\eZfe\oXZk`$
* EffY\[\Z\%
kl[[e[\\jk}ejljcd`k\j1
efZldgc`ileZXjk`^fhl\j\ <cX[lckf[\Y\gfe\ij\XjlXckliX#d`i}e[fc\Xcfjfafj#pZfecXjdXefjjfYi\jlj_fdYifj1j\c\i\g`k\
XeleZ`XfZfeZ\[\ilegi\d`f cXg\k`Z`eZfemfqÔid\#g\ifj`e^i`kXi%J`effY\[\Z\#½k`\dgf]l\iX¾XjlZlXikf %:lXe[fÔeXcd\ek\
ZlXe[f\cZfdgfikXd`\ekfef _X^Xcfhl\j\c\[\ZX#j\c\]\c`Z`kXpefj\c\i\Zi`d`eX1½<jcfhl\k\eXjhl\_XZ\i[\j[\\cgi`eZ`$
]l\\cgXZkX[fZi\XZfe]lj`e g`f¾ %
\ejljZXY\qXj%JXY\ihl\j`
j\gfe\edlpg\jX[fjj\c\j + J\g\c\XZfejkXek\d\ek\Zfejl_\idXef%
XZXYXg\i[feXe[fcXjXeZ`e
J`\jgfj`Yc\_Xphl\`ek\ekXihl\gXj\ed\efjk`\dgfalekfj#g\ifhl\j\cc\m\ed\afi%J`[`jZlk\e
fhl\Xlehl\j\gfik\edXc
gfileal^l\k\#j\^lXi[X_XjkXhl\j\gfe^Xe[\XZl\i[f%J`lefc\g\^XXcfkif#_Xphl\Xk\e[\iXc
mXeXj\ii\Zfdg\ejX[fjef
X^i\[`[f\`^efiXiXcX^i\jfi%
cfjY\e\ÔZ`X\eeX[X#d}jY`\e
XcZfekiXi`f% , 8ek\cXXd\eXqX[\leZXjk`^f#[`Z\1½PXdhld\`dgfikX¾%
D<AFI<EGFJ@K@MF :lXe[fZfek\jkXeXj#\j]}Z`c[\jZfeZ\ikXij\pg\ejXihl\½eX[X]leZ`feXZfe\jkXZi`XkliX¾%<jf\j
gi\Z`jXd\ek\cfhl\chl`\i\#dXe`glcXicXj`klXZ`e%G\ifZfdf\jZXj``dgfj`Yc\\eZfekiXiXlee`f
8cX_fiX[\cf^iXileZXdY`f Xchl\efc\`dgfik\eX[X#cXi\jgl\jkX\j1½9`\e#gl\jpXhl\efk\`dgfikX#k\hl\[XjZXjk`^X[f¿¾%P
[\Zfe[lZkXcXjXcXYXeqXjp Zldgc`icf#Xlehl\gfe^XleXjfei`jX[\½pXfj[`a\hl\efd\`dgfikXYX¾%
cfj \cf^`fj jfe dlZ_f d}j
\ÔZXZ\jhl\cXjZik`ZXj%Le
e`fhl\efgXiX[\fi#gfi
gXik\[\jljgX[i\jfgif]\$
jfi\j#hl\\jle[\jXjki\#hl\
efk`\e\Xii\^cf#fhl\\jle
[\dfe`f# gifYXYc\d\ek\ cf
XZXY\j`\e[f%Gfi\cZfekiX$
i`f#j`j\mXei\]fiqXe[fjlj
g\hl\fjcf^ifj#`^efiXe[f
jlj\iifi\jpZXjk`^Xe[fjlj
jXc`[Xj[\kfef#\ci\jlckX[f
mXXj\idlZ_fd}jgfj`k`mf%
)4 &## 02/'2!-!
ÓY^W :.*
LeXi\m`j`eXcfjgi`eZ`g`fjY}j`Zfj[\cXgi\e[`qXa\
z0ORõQU·õTIENENõRABIETASõ
Gf[\dfj[\Ôe`i\cXgi\e[`qXa\Zfdf\cgifZ\jf[\X[hl`j`Z`e[\ZfefZ`d`\ekfj#_XY`c`[X[\j#XZk`kl[\j
fmXcfi\jXkiXmj[\cX\og\i`\eZ`XpcX`ek\iXZZ`eZfe\c\ekfief%CXdXpfiX[\cX^\ek\XjfZ`X\jk\
ZfeZ\gkfZfeleXZfe[lZkXel\mX#ZfdfXgi\e[\iXc\\i#XdfekXi\eY`Z`Zc\kXfXkfZXicXÕXlkX%J`e
\dYXi^f#kXdY`ej\gif[lZ\Xgi\e[`qXa\ZlXe[fj\cf^iX\c`d`eXi[\k\id`eX[fjZfdgfikXd`\ekfjZfdf
ZilqXicXZXii\k\iXZfe\cj\d}]fif\eifaffdfekXi\eZc\iXXek\ZlXchl`\ig\hl\XZfekiXi`\[X[%
CXj [`]\i\ek\j k\fiXj [\c :fe[`Z`feXd`\ekf [\k\id`eXek\[\cXjglcj`fe\j [\ df[\cfj% KXdY`e gljf
Xgi\e[`qXa\# jfYi\ kf[f cXj Zc}j`Zf#GXlcfm gi`dXi`Xjp[\cfjgifZ\jfj [\ i\c`\m\ cX `eÕl\eZ`X [\c
[\jXiifccX[XjXgXik`i[\cj`$ Jlgi`eZ`gXcXgfikXZ`egXik` `eZfejZ`\ek\j%CX`eÕl\eZ`X g\ejXd`\ekf\ecXZfe[lZkX
^cfOO#Zfe]fidXecXjYXj\j [\c\jkl[`f[\cZfdgfikXd`\e$ [\Z`j`mX [\c XdY`\ek\# \e \e]fhl\Zf^e`k`mf %
[\cXZklXcdXiZfk\i`Zfhl\ kfi\Õ\af\eXe`dXc\jp\e\c \jg\Z`Xc\cZfdgfikXd`\ekf
\ogc`ZX#Zfdgi\e[\pgi\[`Z\ Xgi\e[`qXa\XgXik`i[\cXXjf$ [\ cfj gX[i\j# \ogc`ZXiX cX :fejkilZk`m`jdf#
cXgifYXY`c`[X[[\hl\j\gif$ Z`XZ`e[\\jkdlcfj% ]fidXZ`e[\cXg\ijfeXc`[X[ G`X^\kp8ljlY\c
[lqZX le [\k\id`eX[f k`gf [\cfj_`afj% <cj\i_ldXefZfejkilp\jl
[\ ZfdgfikXd`\ekf% <jkXj Gj`ZfXe}c`j`j#=i\l[ g\ejXd`\ekfXgXik`i[\cX`e$
jfecXjgi`eZ`gXc\jZfii`\ek\j Jlk\fiXi\m\cXcdle[fcX :fe[lZk`jdf# k\iXZZ`eZfejld\[`f]j`Zf#
[\cXgi\e[`qXa\pjlji\gi\j\e$ `dgfikXeZ`X[\cXjgi`d\iXj NXkjfe jfZ`XcpZlckliXc%<jk\\e]fhl\#
kXek\jd}j[\jkXZX[fj1 \kXgXj[\c[\jXiifccfp\cgXg\c CX Zfe[lZkX fYj\imXYc\ \j hl\`ek\^iXmXi`XYc\jkXekfXd$
\ci\jlckX[f[\leXj\i`\[\ Y`\ekXc\jZfdfY`fc^`ZXj#j\
Zfe\o`fe\j X[hl`i`[Xj hl\ Z\ekiX\e\c[\jXiifccfZf^e`$
j\ _Xe `[f \jkXYc\Z`\e[f k`mf[\ce`f#\ejl`ek\iXZZ`e
gfiZfe[`Z`feXd`\ekf\eki\ Zfe\cdle[fhl\cfif[\Xp
\jkdlcfjpi\jgl\jkXj%<jkX \ecfj[`]\i\ek\j\jkX[`fj[\
Zfii`\ek\gfe\\cXZ\ekf\e jlgif^i\j`mXdX[li\q%
cXjmXi`XYc\jXdY`\ekXc\j#gfi
cfhl\ZfeZ`Y\Xci\Z`eeXZ`[f
ZfdfleXg`qXiiX\eYcXeZf%
:fe[`Z`feXd`\ekf
fg\iXek\#Jb`ee\i
;\ekif [\c Zfe[lZk`jdf#
j\ Z\eki \e \c Xe}c`j`j [\c
Xgi\e[`qXa\ X gXik`i [\ cXj
Zfej\Zl\eZ`Xjgfj`k`mXjgi\$
d`fj fe\^Xk`mXjZXjk`^fj
[\cXZfe[lZkXhl\Xld\ekXe
f[`jd`elp\ejlgifYXY`c`[X[
[\XgXi`Z`e%
8gi\e[`qXa\jfZ`Xc#
9Xe[liX
8eXc`qX cXj Zfe[`Z`fe\j \e 5G8I8J89<IDÝJ
cXjhl\j\gif[lZ\\cXgi\e$ ½<[lZXij`e^i`kXi¾%>l`cc\idf
[`qXa\XgXik`i[\cX`d`kXZ`e 9Xcc\eXkf%<[`kfi`XcCX<j]\iX[\cfj
[\fkiXjg\ijfeXjhl\XZkXe C`Yifj#)''.%
<E9I<M<
¶BEIJ;D=E:EC?D7:EI
ÓY^W :.*
CXjiXY`\kXjjfeleX]fidX`edX[liX[\\ogi\jXi\e]X[f%8g\jXi[\hl\gl\[\e[Xicl^XiXleX
j`klXZ`ei\Xcd\ek\k\ejX#]fidXegXik\[\c[\jXiifccfefidXc[\ZlXchl`\ie`f\ejljgi`d\ifjXfj
[\m`[X%8_fiXY`\e#\c_\Z_f[\hl\j\XeefidXc\jefhl`\i\[\Z`ihl\ef_XpXhl\i\jgfe[\iX\ccXj[\
¶?<I<E:@8%%%6 ]fidXX[\ZlX[X%
)4 &## 02/'2!-!
ÓY^W :.+
CX`ej\^li`[X[XcX_fiX[\\[lZXi
(IJOSõADOLESCENTESõ
PADRESõDESORIENTADOS
:lXkif[\ZX[X[`\qgX[i\j\jgXfc\jZfeÔ\jXeefjXY\iZdf\[lZXiXjlj_`afjX[fc\jZ\ek\j%J`k\e\dfj
\eZl\ekXhl\\e\c)'[\cXj]Xd`c`Xj\jgXfcXj_Xpam\e\j[\\eki\(*p(/Xfj%%%gf[\dfj`ekl`i
hl\jfedlZ_fjcfjgX[i\j½[\jZfcfZX[fj¾%8jcfZfeÔidXcX`em\jk`^XZ`ejfYi\½MXcfi\jpgXlkXj[\
`ek\iXZZ`e]Xd`c`Xi\ecXX[fc\jZ\eZ`X¾#i\Xc`qX[XgficX=le[XZ`eJXekXDXiX#XkiXmj[\(%)''\eZl\jkXj
XgX[i\j[\kf[XjcXji\^`fe\j\jgXfcXj%CXgi[`[X[\Xlkfi`[X[[\cfjX[lckfjpcXZX[X[\Xc^lefjd`kfj
ZfdfcXjlgl\jkX`eZfdle`ZXZ`e\eki\gX[i\jpX[fc\jZ\ek\jjfe[fj[\cXjZfeZclj`fe\jd}j`dgfikXek\j
[\\jk\jfe[\f%
<e\c\oki\dffgl\jkf\jk}e ` D}j[\cXd`kX[[\cfjgif$
cfjgX[i\jhl\Xj\^liXek\e\i ^\e`kfi\jj\[\ZXekXegficX
cXj`[\XjdlpZcXiXjXZ\iZX[\ c`Y\ikX[ \e cX \[lZXZ`e#
cX\[lZXZ`e[\jlje`fj\e ]i\ek\Xle(.hl\fgkXe
gc\eX\[X[[\cgXmf#hl\i\gi\$ gfigfjkliXjd}jXlkfi`kX$
j\ekXeXZ\iZX[\c-'[\cfj i`Xj%
\eZl\jkX[fj%J\Xlkf[\Ôe\e
Zfdf[`Xcf^Xek\j#[\dfZi}$ ` Le-.[\cfjgX[i\jZi\\
k`ZfjpX]\Zk`mfj% hl\jlj_`afjk`\e\e
[\dXj`X[XjZfjXj1
FkiXj`ek\i\jXek\jXgfikXZ`f$ [\_\Z_f#ZXj`cXd`$
e\j[\c\jkl[`fjfe\jkXj1 kX[[\cfjX[fc\jZ\ek\j
<E9I<M<
HÜDA?D=:;FH;E9KF79?ED;I
ÓY^W :.+
¶Hl\jcfhl\d}jmXcfiXecfjgX[i\jXcX_fiX[\\[lZXiXjlj_`afj6J\^e\ccfjd`jdfji\jgfe[\e#
Xek\kf[f#[fjZfjXj1cX_feiX[\qp\c\j]l\iqf#pXj\X\e\c\jkl[`ff\e\ckiXYXaf%<eZlXekfXcfj
k\dXjhl\d}jhl\YiX[\ifj[\ZXY\qXgl\[\gifmfZXile_`afX[fc\jZ\ek\#\jk\\j\ci}eb`e^1
J@EF<JKL;@8J#EFJ8C<J
( CXj[if^Xj%
Cfjdfk`mfj[\ZfeÕ`Zkf\eki\ ) CX]XckX[\kiXYXafp[\fgfikle`[X[\j%
gX[i\j\_`afjj\Z\ekiXe#jfYi\
kf[f#\ecfjki\jk\dXj[\_fp * CXjdXcXjZfdgXXj%
p[\j`\dgi\1cXXgXkX_XZ`X + <cZfejldf[\XcZf_fc%
cfj\jkl[`fjp\ckiXYXaf#cXj
jXc`[XjefZklieXjp\cZfejl$ , CfjgifYc\dXj[\jXcl[1\cj`[X#\e\cZXjf[\cfjZ_`Zfj#pcXXefi\o`XfcXYlc`d`X#\e\cZXjf[\cXj
df[\[if^XjpXcZf_fc%Gficf Z_`ZXj%
[\d}j#\e^\e\iXccfjam\e\j
j\\eZl\ekiXeX^ljkf\eZXjX <jkfjjfecfjZ`eZfXjg\Zkfjhl\d}jgi\fZlgXeXcfjgX[i\j#Xlehl\jlfi[\e[\`dgfikXeZ`XmXiXj\$
pX[d`k\edXek\e\ileXYl\eX ^ecXZcXj\jfZ`Xcp\cj\of[\cfj_`afj%Gfi\a\dgcf#cfj\dYXiXqfjef[\j\X[fjfZlgXe\cck`dfcl^Xi
i\cXZ`eZfejljgX[i\j% [\cfj[`\qgifYc\dXjgifgl\jkfj\e\cZXjf[\cfj_`afjmXife\j#d`\ekiXjhl\j\j`kX\e\cjgk`df
gl\jkf\e\cZXjf[\cXj_`aXj%
D8;I<JCL:?8;FI8J
<eZlXekfXcXj[`]\i\eZ`Xj[\
j\of#\c\jkl[`fi\Õ\aXZ`\ikX
k\e[\eZ`X[\cfjgX[i\jXhl\
jlj_`aXjZfcXYfi\ed}j\ecXj
kXi\Xj[\c_f^Xihl\cfjZ_`Zfj2
kXdY`ej\cXjZfekifcXd}j
\ejlj`[Xjpm\e`[Xj%JfecXj
dX[i\jcXjhl\_XekfdX[fle
gXg\cd}jXZk`mf\ecXi\`m`e[`$
ZXZ`e[\leXdXpfi`^lXc[X[
\e\ci\gXikf[\kXi\Xj\eki\cfj
Z_`ZfjpcXjZ_`ZXj%
)4 &## 02/'2!-!
ÓY^W :.,
:lXe[fcXjefidXjYi`ccXegfijlXlj\eZ`X
0ADRESõOBEDIENTESõHIJOSõTIRANOS
LeXgif]\jfiXZfem\ijXZfeleXdX[i\d`\ekiXj\ce`f#[\ki}j[\\ccXj#c\j_XZ\YlicX%CXdX[i\[`Z\1½G\if#
gfi]Xmfi#hlc\mXX]XckXiXd`_`afj`j`\dgi\_Xk\e`[fkf[fcfhl\_Xhl\i`[f¾%CXgif]\jfiXc\Zfek\jkX1
½9l\ef#kXcm\qe\Z\j`k\Xc^lefjcd`k\j¾%8cfhl\cXdX[i\i\jgfe[\1½EfZi\f%G\ifYl\ef#j`e\Z\j`kX
cd`k\j#·c\Zfdgifcd`k\j¾%<jk\Z_`jk\[\DX`k\eXgcXjdXZfe_ldficXi\Xc`[X[[\dlZ_Xj]Xd`c`Xj\ecXj
hl\leX[fiXYc\g\hl\fk`iXef`dgfe\jlgifg`Xc\p\eZXjXp#j`c\[\aXe#kXdY`e\e\cZfc\^`f%Jfee`fj
ZXgi`Z_fjfj#j`eefidXj#hl\[Xei[\e\jXcfjgX[i\j#fi^Xe`qXecXm`[X]Xd`c`XipZ_XekXa\XeXkf[fXhl\c
hl\`ek\ekX]i\eXicfj%
Cfjgj`Zcf^fj<m\cpeGiX[f CX^\e\iXZ`e[\_`afjk`iXefj#gfi
p A\jj 8dXpX _XYcXe [\ cX ck`df#\jcXhl\jli^\XgXik`i
^\e\iXZ`e[\cfjgX[i\jfY\$ [\(0/,%Jfee`fjhl\m`m\e
[`\ek\jgXiX\ogc`ZXi\jk\]\e$ \e]Xd`c`Xjg\hl\XjdlZ_Xj
d\ef#hl\j\iX\cgif[lZkf[\ m\Z\jjfe_`afje`Zfj pef
leXj\i`\[\ZXdY`fj[\k`gf j`\dgi\kiX[`Z`feXc\jdX[i\j
ZlckliXc#jfZ`Xcp]Xd`c`Xi1 jfck\iXj# gX[i\j j\gXiX[fj#
[`]\i\ek\j eXZ`feXc`[X[\j#
CX^\e\iXZ`ej`c\eZ`fjXj\]fi$ ]Xd`c`Xj d`okXj%%% hl\ ef
dZfecXjg\ijfeXjeXZ`[Xj \jk}e[`jgl\jkfjXfY\[\Z\i
\eki\(0*,p(0,'%M`m`\ifeleX XjZfdfXjXcfjX[lckfj%Jlj
[`jZ`gc`eX\jki`ZkX\ecXhl\cfj gX[i\jefc\jhl`\i\e`dgfe\i
_`afjfY\[\ZXepi\jg\kXYXe i\^cXjhl\cfj_X^Xejl]i`i#gfi
XgX[i\j#XYl\cfjpX[lckfj\e cfhl\efc\je`\^Xee`e^eZX$
^\e\iXcj`e[`jZlk`icXjefidXj% gi`Z_f%<ci\jlckX[f1e`fjhl\
?XYXhl\Zldgc`icXjgfihl\ hl`\i\ej\iZfejkXek\d\ek\\c
Xj \jkXYXe \jkXYc\Z`[Xj p Z\ekif[\Xk\eZ`e#hl\[\jf$
glekf % Y\[\Z\e#[\jX]XepefXZ\gkXe
cX]iljkiXZ`e%
CX^\e\iXZ`e[\c½YXYpYffd¾#
gfijlgXik\#j\i\Ô\i\XcZfe$ <j`dgfikXek\[\aXiZcXifhl\
alekf[\g\ijfeXjhl\eXZ`\$ cfje`fjk`iXefjjfeleXd`$
ife\eki\(0,(p(0/+%<iXleX efiX%G\if#\eYl\eXc^`ZX#
gfZX[\kiXej`Z`e#[\ZXdY`f jfecfjhl\d}jgi\fZlgXeX
\ecfjmXcfi\j#[\c`Y\iXZ`ep cXjfZ`\[X[1j`efj\c\jgfe\
[\ Zfdgifd`jf% G\if \iXe cd`k\jXjl[li\qX\dfZ`feXc
_`afjhl\#Xg\jXi[\c\jgi`$ j\ Zfem\ik`i}e \e X[lckfj
kl[\i\Y\c[X[\\jkXgfZX# ZfeÕ`Zk`mfj hl\ ef jXYi}e
fY\[\ZXepi\jg\kXYXeXcfj X[XgkXij\Xcdle[fhl\c\j
X[lckfj%?fp\e[X]fidXecX _XkfZX[fm`m`i%
^\e\iXZ`e[\cfjgX[i\jfY\$
[`\ek\j1ZlXe[f\iXeg\hl\fj
c\jkfZfY\[\Z\iXjljgX[i\j#
X_fiXhl\jfeX[lckfj[\Y\e 5G8I8J89<IDÝJ
jfd\k\ij\XcfjZXgi`Z_fj[\ ½<cg\hl\f[`ZkX[fi¾%AXm`\iLiiX%
jlj_`afj% <[`kfi`XcCX<j]\iX[\cfjC`Yifj%
<E9I<M<
L?L?H7BBßC?J;
ÓY^W :.,
EX[X[\jZfeZ`\ikXd}jXcfje`fjhl\cXXlj\eZ`X[\efidXj%?fp\e[Xkf[fjcfjgif]\j`feXc\j[\cX
\[lZXZ`eZf`eZ`[\e\ehl\\jfjcd`k\jjfecfjhl\c\jf]i\Z\ecXj\^li`[X[#\cY`\e\jkXip\cXgi\e[`$
qXa\hl\ZlXchl`\ij\i_ldXefgXiXcf^iXile[\jXiifccfZfdgc\kf%
;<:ÝCF>F9ÝJ@:F
G\[i\`iXDXjjX#gi\j`[\ek\[\cXJfZ`\[X[<jgXfcX[\Gj`hl`XkiX@e]Xek`c#Xgc`ZX\jk\d`jdfgi`eZ`g`f
Cfjki\jgi`d\ifjXfj\ecX Xcdkf[fhl\YXlk`qZfe\cefdYi\[\cXjki\j:%Pcf\ogc`ZXXj1½CXgi`d\iX:\jZf_\i\eZ`X#hl\
\[lZXZ`e [\ cfj e`fj jfe j`^e`ÔZXefcc\mXiefjcXZfekiXi`XXefjfkifjd`jdfjpk\e\ij`\dgi\\cd`jdfZi`k\i`f%CXj\^le[X:
]le[Xd\ekXc\jgXiXcX]fidX$ \jZfej`jk\eZ`X1\cj\jjp\cef\jef%PcXk\iZ\iX\jcXZfek`el`[X[#cfhl\j`^e`ÔZXj\iZf_\i\ek\p
Z`e[\jlg\ijfeXc`[X[%Gfi Zfej`jk\ek\[\]fidXg\idXe\ek\¾%
\jf\j`dgfikXek\\jkXYc\Z\i <e\cj`^l`\ek\ZlX[ifj\i\Zf^\ecXj[`]\i\eZ`Xj\eki\\jkXYc\Z\ifefle\jk`cf\[lZXk`mfYXjX[f\e\c
leXjefidXjY}j`ZXjhl\gfZf Zldgc`d`\ekf[\leXjefidXjY}j`ZXjfZfeXlj\eZ`X[\\ccXj1
XgfZfj\mXpXeZfem`ik`\e[f
\e_}Y`kfj%<jkXjilk`eXj#X[\$
d}j#g\id`k\e\m`kXi\c[\j$ ¶:äDFJFE6 ¶HLyGIF;L:<E6 ¶HLy<EJ<z8E6
^Xjk\\dfZ`feXchl\jlgfe\
\c ZfeÕ`Zkf ZfejkXek\ \eki\
gX[i\j \ _`afj hl\ [`jZlk\e CàD@K<J CXjefidXjef\jk}e ;\jfY\[`\eZ`X% Cfje`fjg`\ejXe1
gfi cX Zfd`[X# gfi cX _fiX 9C8E;FJ ZcXiXj#Xm\Z\jZXdY`Xe%
ClZ_X[\gf[\i½pf ½Ef¾j`^e`ÔZX½j¾f
[\`ij\X[fid`ifgfi\cdf$ F
J\\emXe[fYc\jd\ejX$ k\e^f\cd`jdf[\i\Z_f ½hl`q}¾%
d\ekf[\gfe\ij\X\jkl[`Xi% 8LJ<E:@8
a\j1½j#g\ifef¾% hl\k%%%¾ %
LeXjefidXjX[\ZlX[XjgXiX ;< <ei\Xc`[X[d`jgX[i\jef
cfjgi`d\ifjXfjgf[iXej\i EFID8J <c`eZldgc`d`\ekf[\ =XckX[\i\jg\kf% \jg\iXehl\ZldgcXcXj
\jkXj1 efidXjefk`\e\Zfej\$ efidXj%
Zl\eZ`Xjfj#[\g\e[\ J\kiXjgXjXecfjcd`k\j%
[\c[X % CXjefidXjefjfegXiX
(%FY\[\Z\i d%
8m\Z\jj\Zl\ekXe
)%Efg\^Xi d\ek`iXjgXiXcf^iXicX CfjX[lckfjjfecfji\jgfe$
Zfe[lZkX[\j\X[X% jXYc\j[\d`jXZkfj%
*%Efd\ek`i D`jgX[i\jefjfe
?XpdlZ_XjXd\eXqXj
p^i`kfjg\ifXcÔeXccfj Zfej\Zl\ek\jZfecfhl\
+%Ef Zfek\jkXi Zfe dXcfj gi\[`ZXe%
ZXjk`^fjj\c\mXekXe%
df[fj
J\[`Z\Xkf[fhl\j%
,%Ef^i`kXiXc\e]X[Xij\gif_`$
Y`[XjcXjiXY`\kXj CàD@K<J ?Xp`e[`ZXZ`fe\jZcXiXjp :ffg\iXZ`e% :ffg\iXZ`e%
=@ID<J# [`i\ZkXj_XZ`XZfe[lZkXj
ZfeZi\kXj% :fdgi\ej`e[\cXj :fdgi\ej`e[\cXj
-%Ef`ek\iildg`iXcfjdXpf$ EFID8J
efidXj% efidXj%
i\jZlXe[f\jk}e_XYcXe[f :C8I8J
J\\o`^\fY\[`\eZ`X%
I\jg\kfXcXjgXcXYiXj[\ I\jg\kfXcXjgXcXYiXj[\
.%Efifdg\ie`\jkifg\XiZfjXj J\fkfi^Xi\jgfejXY`c`[X[% cfjgX[i\j% cfjgX[i\j%
[\ZXjXf[\cZfc\^`f
J\`e]fidXZfeZcXi`[X[ 8ld\ekX\cZldgc`d`\ekf 8ld\ekX\cZldgc`d`\ekf
[\cXjZfej\Zl\eZ`Xj[\ [\cXjefidXj% [\cXjefidXj%
/%Efhl`kXiZfjXjXcfj_\idX$
leXlefkiXZfe[lZkX[\
efjfZfdgX\ifj
fY\[\Z\if[\jfY\[\Z\i %
0%I\jg\kXi cfj _fiXi`fj [\ CXjgXcXYiXjj\XgfpXe\e
Zfd`[X#Z\eX#\jkl[`f#al\^f# cXXZZ`ej`j\gifd\k`
[fid`i legi\d`ffleZXjk`^f#j\
Zldgc\ %
('%EfXd\eXqXie`Z_XekXa\Xi
XcfjgX[i\jZfedXiZ_Xij\[\
ZXjX#ZfegfikXij\g\fi%%% %
)4 &## 02/'2!-!
ÓY^W :.-
<cXlkfZfekifcpcXgi\m\eZ`e[\Zfe[lZkXjm`fc\ekXj
5NASõVECESõSEõGANAõOTRASõSEõPIERDE
½:fe[\eXeXleXdX[i\gficXYilkXc`[X[[\
jl_`afX[fc\jZ\ek\¾#k`klcXYXecfjgi`eZ`gXc\j
g\i`[`Zfj\jgXfc\j_XZ\Xc^ek`\dgf%CX
efk`Z`Xj\i\]\iXXleXj\ek\eZ`X[\cX8l[`\eZ`X
[\J\m`ccXhl\fYc`^XYXXleXdla\iXgX^XicX
i\ZfejkilZZ`e[\cfj[`\ek\jhl\jl_`af#[\(+
Xfj#_XYXifkfXleZfdgX\if[\`ejk`klkf%
<c]Xccfal[`Z`XcXg\cXYXXleX½`eZfii\ZkX
\[lZXZ`e\oZ\j`mXd\ek\cXoXZfecXj
Zfe[lZkXjm`fc\ekXj[\cd\efigfigXik\[\cfj
gif^\e`kfi\j¾%8gXik`i[\Xhljli^\eXc^leXj
gi\^lekXj\ei\cXZ`eZfe\cX^i\jfi1¶\j
ZfejZ`\ek\[\c[Xfhl\_XZXljX[f6#¶gfihl
eX[`\c\_X\ej\X[fXXlkfZfekifcXij\6#¶hl
df[\cfj`d`kX6#¶hlmXcfi\jj\c\_X`eZlcZX[f6#
¶\jkf[fgif[lZkf[\ledXcXgi\e[`qXa\f\o`jk\
leXYXj\fi^}e`ZX6
CfjgX[i\jefjfe`e]Xc`Yc\j% Xc^leXj fi`\ekXZ`fe\j gXiX [`\qpg`\ej\\eleZ_`jk\f [\ XZklXi# `ej`jk`\e[f \e \c
P\efZXj`fe\jj\\hl`mfZXe% Xhl\ccfjgX[i\jhl\hl`\i\e XeZ[fkX[`m\ik`[X% gif^i\j`mf Xgi\e[`qXa\ [\
G\ifcf`dgfikXek\ef\jYlj$ Xpl[XiXdXek\e\i\cZfekifc kZe`ZXj[\XlkfZfekifcp[\
ZXiZlcgXYc\j#j`efjfclZ`fe\j Xjlj_`afj1 ` ½EfmXc\cXg\eX\e]X[Xij\¾% i\cXaXZ`e%Gfi\a\dgcf#cX[\c
XlegifYc\dX\c[\d\efi\j LeXm\qXgXZ`^lX[XcX]li`X# dl\Zf[\e`\m\#\ecXhl\j\
ZfeZfe[lZkXjgifYc\d}k`ZXj ` ½LeXjm\Z\jj\^XeXpfkiXj _Xphl\XeXc`qXicXj`klXZ`e[\ c\[`Z\Xce`fhl\j\`dX^`e\
hl\mX\eXld\ekf% j\ g`\i[\¾% <j `dgfikXek\ cX]fidXd}jfYa\k`mXgfj`Yc\ hl\\jledl\Zf[\e`\m\
`eZlcZXic\jcX`[\X[\hl\ef pgcXek\Xij\j`d\i\Z\cXg\eX hl\j\\jk}[\ii`k`\e[fYXaf
Kf[fj cfj \jg\Z`Xc`jkXj \e j\gl\[\Zfej\^l`ij`\dgi\# dfjkiXileXZfe[lZkX[\jZfe$ cfjiXpfj[\cjfc%;\Y\efkXi
m`fc\eZ`X alm\e`c Zf`eZ`[\e p\e\cdfd\ekf\jg\iX[f#cf kifcX[X#XcXhl\ZXj`j`\dgi\ Zdfj\mXZfem`ik`\e[f\e
\e hl\ \c \ekfief ]Xd`c`Xi# hl\j\[\j\X%CfjfYa\k`mfj#\e j\ XjfZ`Xe Zfej\Zl\eZ`Xj X^lX [\j[\ cX ZXY\qX _XjkX
\cmeZlcfX]\Zk`mfhl\j\\j$ fZXj`fe\j#_Xphl\[\dfiXicfj e\^Xk`mXj% cfjg`\j%<jkXkZe`ZXg\id`k\
kXYc\Z\ZfecfjgX[i\j[\j[\ \e\ck`\dgf%PkXe[`]Z`c\j i\cXaXi[\]fidXgif^i\j`mXcfj
cfjgi`d\ifjXfj[\m`[XpcX jXY\i^XeXiZfdfi\ZfefZ\i ` ½9ljZXfkifZXd`ef¾%J`\d$ djZlcfjk\ej`feX[fjgfi\c
kiXejd`j`e[\mXcfi\j[\j[\ leX[\iifkX% gi\\o`jk\eXck\ieXk`mXjXcXj e\im`fj`jdfpcXXe^ljk`X%
\c_f^Xijfe]le[Xd\ekXc\jX Zfe[lZkXjm`fc\ekXj#jfcf_Xp
cX_fiX[\gi\m\e`icXXgXi`$ ` ½:l\ekX_XjkX[`\qXek\j[\ hl\YljZXicXj%EfidXcd\ek\j\ <e gXcXYiXj [\ G`k}^fiXj1
Z`e[\Zfe[lZkXjm`fc\ekXj% XZklXi¾% Le e`f `dglcj`mf XcZXeqXeZfe\c[`}cf^f% ½<[lhl\dfjXcfje`fjpef
<eZfeZi\kf#j\_X[\dfjkiX[f [\Y\\m`kXiXZklXij`eg\ejXi# j\i}e\Z\jXi`fZXjk`^XiXcfj
cX\ÔZXZ`X[\cXgi\e[`qXa\[\c dfk`mX[fgfilej\ek`d`\ekf ` ½Gfecf\egi}Zk`ZX¾%<cck`$ _fdYi\j¾%E`XcfjgX[i\j#j\
XlkfZfekifcZfdf\jkiXk\^`X [\`iXfiXY`X%J\c\gl\[\\e$ dfgXjf[\\jk\\eki\eXd`\ekf gf[iXXX[`i%
[\gi\m\eZ`e[\Zfe[lZkXj j\XiXhl\#ZlXe[f\dg`\Z\X Zfej`jk\\eXpl[XiXcd\efiX
[\jX[XgkXk`mXj% <jkXj jfe efkXij\f]ljZX[f#Zl\ek\_XjkX cc\mXiXcXgi}Zk`ZX\jkX]fidX
<E9I<M<
H;9;J797I;H7:;B7L79KD77DJ?L?EB;D9?7
ÓY^W :.-
AXm`\iLiiX#Zfdfgj`Zcf^f[\cX=`jZXcX[\D\efi\j[\DX[i`[#_Xc`[`X[fZfedlZ_fjZXjfj[\e`fj
X^i\j`mfjp]Xd`c`Xj\jZcXm`qX[Xj%P[\jglj[\dlZ_fjXfj[\\og\i`\eZ`X#k`\e\ZcXifhl\cfjgX[i\j
jfeleXg`\qXZcXm\gXiX\m`kXifZfekifcXicXXgXi`Z`e[\Zfe[lZkXjm`fc\ekXj%<jkX\jjl½i\Z\kX¾gXiX
GàC;FI8J:FEKI8 gX[i\j1
<CD8CKI8KF
J\gfe\Xk\eZ`eXce`f[\j[\Xek\j[\hl\eXqZX\j\cgif[lZkf#[\jlZXc`[X[mXX[\g\e[\i\c
` Gfe\ij\\e\ccl^Xi[\cfkif# i\jlckX[fÔeXc %
\dgXk`qXi%
J\cfhl`\i\[\j[\\cgi`d\idfd\ekf\ehl\cc\^XXcdle[f1j\c\XYiXqX#j\c\\jZlZ_Xpj\cf_XZ\
gXikZ`g\[\cXm`[X]Xd`c`Xi%
` 8gi\e[\iX[`Xcf^Xi#X[\YXk`i
pXXi^ld\ekXij`eXZXcfiXij\ @^lXchl\j\m`^`cXle^l`jfpj\dl\m\#j\c\mX[Xe[fXlkfefdXpc`Y\ikX[[\j[\cXklk\cX %
` 8[d`k`i]iljkiXZ`fe\jpXZ\g$
J\X[\i\qXZfeleXj^fk`kXj[\Yl\e_ldfi#ZXgXZ`[X[[\XlkfZik`ZXpXlkfZfekifc%
kXi\cefZfdfi\jgl\jkX% J\mXc`^Xe[fcXjXcjX[\cXjfZ`Xc`qXZ`e1cXXZ\gkXZ`e[\cX[`]\i\eZ`X#cfj[\i\Z_fj[\cfj[\d}j#cX
j\ej`Y`c`[X[Xek\\c[fcfiXa\ef%%%\e[\Ôe`k`mX#\ci\jg\kfgfikf[XjcXjg\ijfeXj#Xe`dXc\j#gcXekXjp
` I\ij\[\lefd`jdf% fYa\kfj%
` J\iZXgXq[\ZXgkXij`klX$ J\XX[\cXZXgXZ`[X[[\XZ\gkXi]iljkiXZ`fe\j#[\[`]\i`icXj^iXk`ÔZXZ`fe\j%
Z`fe\j [\ dXckiXkf ]j`Zf
f gj`Zfc^`Zf p i\Z_XqXicf
J\i\k`iX[\c½]l\^f¾pj\d\qZcXZfeleXYl\eX[fj`j[\Xik\1c`Yifj#g\cZlcXj#fYiXj[\k\Xkif#
g`ekliX%%%
gYc`ZXd\ek\%
J\c\fo`^\eXXcX`i\c`Yi\1j\c\kiXejd`k\cXX[d`iXZ`ep\c[`j]ilk\gficXeXkliXc\qX#\cXdfiXcfj
` ;`j]ilkXi Zfe cX c`Y\ikX[ Xe`dXc\j#Xcfj}iYfc\j#XcXjgcXekXj%%%j\c\Xe`dXXgiXZk`ZXi[\gfik\pj\c\XglekX\eXZk`m`[X[\j
[\cfkif% ZXdgXd\ekfj#Zfcfe`Xj[\m\iXef hl\]fd\ek\ecXjfc`[Xi`[X[%
` 8jld`icXjZik`ZXj%
J\gil\YXpj\jXqfeX%J`\je\Z\jXi`f#j\Zfii`^\%<j[\Z`i#j\\jk}Xk`\dgf[\[\Z`ief%
J\X[fieXZfeleXjg`eZ\cX[Xj[\jfc`[Xi`[X[Xe`d}e[fcfXgXik`Z`gXi\eXc^leXf\e\^ pj\i\Õ\$
` ;\jXiifccXicXZfdgXj`e% o`feXjfYi\\cj\ek`[fi\Xc[\cXm`[X%
` ;\jZXikXicX]l\iqXZfdf J\gi\j\ekX\ejfZ`\[X[mXcfiXe[fjlXlkf\jk`dX#jljmXcfi\j#jlg\ijfeX%
i\Zlijf%<jkX\jcXXj`^eXkliX
J\j`im\\eleX]l\ek\jfYi\lec\Z_f[\i\jgfejXY`c`[X[Zfc\Zk`mX[\kf[XcXjfZ`\[X[%
m`kXchl\[\Y\kiXejd`k`ij\[\j$
[\cX]Xd`c`X#[\j[\\cZ\ekif
\jZfcXip[\j[\cXZ`l[X[XeX
\e^\e\iXc%
)4 &## 02/'2!-!
ÓY^W :..
;\_`afjhl\ef_XYcXeXjljgX[i\j
9AõNOõNOSõCUENTAõNADAõ
½J¾#½ef¾#½efj¾#½efd\XZl\i[f¾#½Zfed`jXd`^fj¾#½pXdhl\d\`dgfikX¾jfe#gifYXYc\d\ek\#
\cZfealekf[\dfefjcXYfjd}jlk`c`qX[fgficfjX[fc\jZ\ek\j#[\_fpp[\j`\dgi\#Xek\cXjgi\^lekXj
`efgfikleXjpe\im`fjXj[\jljgif^\e`kfi\j%P\jhl\cXZfdle`ZXZ`eX\jkXj\[X[\jeleZX_Xj`[f]}Z`c1
\e\cd\afi[\cfjZXjfjj\c\jgl\[\jXZXileXjZlXekXjgXcXYiXjXZ\iZX[\Xc^egif^iXdX[\k\c\m`j`e#
jlj\jkl[`fj#jljXd`^fjf`eZcljfXZ\iZX[\Zl\jk`fe\j[\cXm`[X\e^\e\iXc%%%g\ifeleZX#fZXj`eleZX#
Zfd\ekXi`fjj`eZ\ifjXZ\iZX[\jlji\cXZ`fe\j[\gXi\aX#\cZfejldf[\XcZf_fcpfkiXj[if^Xjf\cj\of%
EfidXc#ZcXif#hl\Zfe\jkXj\[X[\jXlefefc\Xg\k\qZX_XYcXi[\\jfjk\dXjkXe[\c`ZX[fjphl\#Xek\jf
[\jglj#mXeX[\j\dYfZXi\eleXXZXcfiX[X[`jZlj`e\ecXhl\\cgX[i\j\hl\[Xi}d}jgi\fZlgX[fhl\
Xek\j[\k\e\icXZfem\ijXZ`ep\c_`afjf]fZX[fpgifd\k`e[fj\hl\\jX_Xj`[fcXgi`d\iXpck`dXm\q%
` Jfgfiklef%
)%@ig\id`k`\e[fZX[Xm\qd}j
`e[\g\e[\eZ`X%
*%F]i\Z\ic\jcXgfj`Y`c`[X[[\
hl\Zl\ek\e\eZXjXjljgi\f$
ZlgXZ`fe\jfgifYc\dXj%
+%<ej\XicfjXj\ii\jgfejX$
Yc\jZfejljfYa\kfjg\ijfeXc\j
pi\jg\klfjfjZfecfj[\d}j%
,%<o`^`ic\ji\jgfejXY`c`[X[\jX
cX_fiX[\Xpl[Xi\eZXjX%
-%Gfe\ic\jlefjcd`k\jpZfe$
j\^l`ihl\cfjXZ\gk\e%
Pefk\e\id`\[fXcXX[fc\j$
Z\eZ`X%8cÔepXcZXYf#kf[fjcX
_\dfjgXjX[f#Xlehl\Xm\Z\j
Zl\jk\Zi\\icf%
)4 &## 02/'2!-!
ÓY^W :./
;\gX[i\j\_`afjhl\j\m\eXcX_fiX[\Z\eXi
3OLOõENõCASA
JfedlZ_fjcfjgX[i\jhl\j\dXiZ_Xe
XkiXYXaXiZX[XdXXeXXek\j[\hl\
jlj_`afjj\c\mXek\e[\cXZXdX%Jfe
e`fjhl\j\gi\gXiXejfcfj\c[\jXplef
pj\mXeXcZfc\^`f%:lXe[fpX_Xe
XZXYX[fcXafieX[X\jZfcXi#pml\cm\e
Xjlj_f^Xi\j#jljgX[i\jkf[XmXef
_Xecc\^X[f1\jk}ejfcfj\eZXjX%8j
\jhl\j\YljZXecXm`[X1j\gi\gXiXe
cXd\i`\e[X#\eZ`\e[\ecXk\c\m`j`e#
_XZ\elegXi[\ccXdX[Xjgfik\c]fef#
j\[`m`\ik\eZfecfjm`[\fal\^fjp
eXm\^Xegfi@ek\ie\k%8m\Z\j#`eZcljf#
_XZ\ecfj[\Y\i\j%JfYi\cX_fiX
[\Z\eXi#cc\^Xecfjgif^\e`kfi\j#
[\ii\e^X[fjgfi\ckiXYXaf[\kf[f\c
[XpZfegfZXj^XeXjgXiXclZ_XiZfe
jlj_`afjgXiXhl\[\a\e[\Z_Xk\Xip
j\gfe^XeX\jkl[`Xi%PXc[Xj`^l`\ek\#
`^lXc1cXkXqX[\:fcX$:XfXcd`Ziffe[Xj <ekfeZ\j# ¶\j dXcf hl\ j\ ` <j `dgfikXek\ Xj\^liXij\
hl\[\ejfcfj\eZXjX6Gl\j# [\ hl\ jXYiXe i\XZZ`feXi
pfkiXm\qX\dg\qXi%J\cfjZfefZ\
\ei\Xc`[X[#\c_\Z_f[\hl\$ Xek\leXj`klXZ`eg\c`^ifjX#
Zfdfcfje`fj[\cXccXm\#gl\jkfhl\ [Xij\Zfdfi\jgfejXYc\j\jle ZfdfleX\d\i^\eZ`Xd[`ZX
k`\e\ekfkXc`e[\g\e[\eZ`XgXiX\ekiXi Yl\eXgi\e[`qXa\gXiXcXm`[X# fle`eZ\e[`f%
j`\dgi\pZlXe[fefj\c\j\jk
pjXc`i[\jljZXjXjd`\ekiXjefcc\^l\#
\o`^`\e[fle\j]l\iqfgXiX\c ` Ef _Xp hl\ fcm`[Xij\ [\
Xcd\efj#cXXlkfi`[X[gXk\ieX%<e hl\ef\jk}egi\gXiX[fj%Gfi fi^Xe`qXic\j\ck`\dgf#jfYi\
<jkX[fjLe`[fji\gi\j\ekXed}j[\c \jf#\jZfem\e`\ek\j\^l`ileXj kf[fcXjgi`d\iXjm\Z\j%
gXlkXjXek\j[\[\Z`[`ij\X[\$
+'[\cXgfYcXZ`e`e]Xek`c2\e<jgXX#
aXicfjjfcfjXek\\cg\c`^if1 ` Gfi ck`df# _fp \e [X \j
\cgfiZ\ekXa\\jd\efi#Xlehl\ZfeleX ]le[Xd\ekXcZfekifcXi\cXZ$
ZcXiXk\e[\eZ`XXcXcqX% ` <egi`d\icl^Xi#cfjgX[i\j Z\jfX@ek\ie\k#\eZfeZi\kf
[\Y\e[\Z`ij`\dgi\X[e[\ XZfek\e`[fjgfZf[\j\XYc\j#
mXe%CXj`klXZ`e\jd}jkiXe$ pXcfjZXeXc\j[\k\c\m`j`e
hl`c`qX[fiXj``dX^`eXeXjlj gXiXX[lckfj
gX[i\j\elecl^XiZfeZi\kf%
<ei\jld\e#\jk\j\iX\cd\e$
` KXdY`e _Xp hl\ [\aXic\j jXa\1½Hl\ef_XpXgX[i\jef
lek\c]fef[\ZfekXZkf%Pj` j`^e`ÔZXhl\ef_XpXi\^cXj¾%
cXXlj\eZ`XmXXj\idlpgif$
cfe^X[X#\c[\lefjXd`^fjhl\
m`mXeZ\iZXfXc^em\Z`ef%
<E9I<M<
9K;IJ?ãD:;C7:KH;P
ÓY^W :./
½K\e^fd`\[fXhl\c\gXj\Xc^f#g\ifkXdY`ed\^ljkXiXhl\]l\iXd}jXlkefdf¾%<jcX^iXe[l[X
[\cfjgX[i\j1jXY\iZl}e[fgl\[\[\aXijfcfXjl_`af\eZXjX%8lehl\#Zfdf\eZlXchl`\igifZ\jf
\[lZXk`mf#cf`dgfikXek\\j`igfZfXgfZf#Xhl\jk}e('gi\^lekXjgXiXi\Õ\o`feXijfYi\\cXjlekf1
;<CJF=Ý8C8:F:@E8
¶:l}c\jjle`m\c[\dX[li\q]j`ZX#d\ekXcp\dfZ`feXc6
Lee`fjfcf\eZXjX#fXZfd$
gXX[fgfileXg\ijfeXhl\
¶Jl\c\j\ii\jgfejXYc\\ejljkXi\Xj6
ef k`\e\ cX i\jgfejXY`c`[X[ CX`[\X[\hl\[Xij\jfcf\eZXjX#¶c\gXi\Z\Y`\efc\_XZ\j\ek`ij\XYXe[feX[f6
[\\[lZXicf#Zfec`Yi\XZZ\jf
XcXe\m\iXpcXgfj`Y`c`[X[[\ ¶<jd`\[fjf6
\c\^`i\eki\al^XiXcXm`[\f$ ¶:l}ekfk`\dgfgf[iX\jkXijfcfcXgi`d\iXm\q6
ZfejfcXf_XZ\icfj[\Y\i\j\j
leXYfdYX[\i\cfa\iX¿ple ¶Gl\[\\jkXi\eZfekXZkfk\c\]e`ZfZfejljgX[i\j6
i`\j^fgXiXcXjXcl[%GXjXij\cX
kXi[\[\cjf]}XcXZfZ`eXp[\
¶?Xplem\Z`effZlXchl`\iX[lckf[\ZfeÔXeqXXchl\gl\[XXZl[`ij`j\gi\j\ekXXc^egifYc\dX6
cXZfZ`eXXcXZXdX#[\jglj <eZXjf[\hl\j\XemXi`fj_\idXefj#¶Zl}c\j\cd}ji\jgfejXYc\6
[\g`Zfk\Xi[liXek\_fiXjXek\
cXgXekXccX[\cXk\c\#j`\dgi\
¶<jlem\Z`e[Xi`fd}jfd\efjj\^lif6
XgfikXb`cfj[\d}j% ¶JXY\Zdfi\jgfe[\iXleX\d\i^\eZ`Xd[`ZXpZdfi\XZZ`feXiXek\le`dgi\m`jkf6
8G8IK@I;<CFJ/
¶8hl\[X[j\cfjgl\[\[\aXi
jfcfj68lehl\ef_Xpi\^cXj#
ef\ji\Zfd\e[XYc\_XZ\icf
Xek\j[\cfj.l/Xfj%Gfi\c
ZfekiXi`f#XgXik`i[\cfj('f()
Xfjjlgfe[i}leXm\i[X[\iX
c`Y\iXZ`egXiXc%<e\cZXjf
[\Z_`ZfjdXpfiZ`kfjXcfjhl\
c\j[Xd`\[fhl\[Xij\jfcfj#
_Xphl\k\e\i\eZl\ekXhl\
\j\k\dfi[XXjlXlkf\jk`dX
pi\kiXjXjldX[liXZ`e%8j
hl\#gfZfXgfZf#_Xphl\`i
Zfej`^l`e[fcf%
)4 &## 02/'2!-!
ÓY^W :.'&
CXZfdle`ZXZ`e\eki\gX[i\j\_`afj
_.OõMEõGRITESõQUEõNOõTEõESCUCHOõ
LeXe`X#\egc\eXefZ_\#ccXdXYXXjlgX[i\1½GXg}#m\e¾%P\cgX[i\`YXpc\[\ZX1½¶Hlhl`\i\j#_`aX6¾#p
\ccXefZfek\jkXYX%8ciXkf^i`kXYX1½GXg}#m\e¾%P\cgX[i\`YXfkiXm\qpc\mfcmXXgi\^lekXi1½¶Hlhl`\i\j#
_`aX6¾#g\if\ccXj\ZXccXYX%8jdlZ_Xjm\Z\j#_XjkXhl\XcÔeXccXe`XZfe]\jXYX1½Hl`\ifhl\d\[`^Xj
(%<c\jk`cfgXj`mff
jld`jf
` <jZXiXZk\ijk`Zf[\Xhl\$
ccfjgX[i\jhl\j\dl\jkiXe
`eZXgXZ\j[\_XZ\imXc\ijlj
gifgl\jkXjlfg`e`fe\jXek\
jlj_`afj%J\j`\ek\e`ej\^lifj
\ejlgXg\cp[\Z`[\eZXccXij\#
X^lXekXipZ\[\iXcXd}jd$
e`dXgi\j`e%@eZcljfXm\Z\j
g`\ejXehl\j``dgfe\ejlj
Zi`k\i`fjgl\[\ekiXldXk`qXi
Xce`ffcc\^XiXj\ii\Z_X$
qX[fj½efhl`\ifj\icXdXcX
[\cXg\cZlcXphl\[\jglj
d\f[`\¾ %
D<EJ8A<HL<J<<EMà8 <OGI<J@FE<JKàG@:8J
;\j\jg\iXZ`ep[\iifk`jdf ½·<jkfp_Xikf¾#½·Kl_XY`kXZ`e\jk}_\Z_XleXgfZ`c^X¾#½·K\
_\[`Z_fd`cm\Z\jhl\cXi\ZfaXj¾#½D`iX#_Xqcfhl\k\[cX
^XeX%PfpXgXjf¾%
Jfe\ogi\j`fe\jhl\gficf^\e\iXcj\i\g`k\eleXpfkiXm\qpj\
hl\[Xe\elej`dgc\[\jX_f^fj`e`ekif[lZ`igifgl\jkXje`jfcl$
Z`fe\j%8ek\\jkXji\XZZ`fe\j#cfje`fjjXY\ehl\cXjZfjXjmXeX
j\^l`iZfdf\jk}e#jfcf[\Y\e\jg\iXiXhl\gXj\\cZ_XgXiie%
*%<jk`cfXj\ik`mff
[`Xcf^Xek\ ;\jXlkfi`qXZ`e ½KlgX[i\\jle[\j^iXZ`X[f#e`j`hl`\iXk\_XccXdX[fgfikl
` <ecXji\cXZ`fe\jXj\ik`mXj Zldgc\Xfj¾%½<j\gif]\jfik\k`\e\dXeX¾%½8m\iZdfcf
\o`jk\le[`}cf^fÕl`[f#leX Xii\^cXjk#hl\\i\jjlgX[i\pk\Zi\\jkXec`jkf¾
g\idXe\ek\ Zfdle`ZXZ`e
;\jXlkfi`qXiXlef[\cfjgif^\e`kfi\jfXle[fZ\ek\\jle\iifi1
Y`[`i\ZZ`feXc\eki\gX[i\j\
\jleXdXe\iX[\jXZXic\i\]\i\ek\jXcd\efip[\_XZ\icfj\ek`ij\
_`afj%J\i\ZfefZ\ekXekfcfj [\jfi`\ekX[f\e\cXdY`\ek\]Xd`c`Xif\jZfcXi%
[\i\Z_fj Zfdf cfj [\Y\i\j
[\kf[fjcfjd`\dYifj[\cX
<oX^\iXZ`e ½G\i]\Zkf¾%½HlY`\ecf_XZ\jkf[f¾%½<i\j\cd\afi¾
]Xd`c`X%CXj`[\Xjj\[\Ô\e[\e#
cXjfg`e`fe\jj\iXqfeXepcXj <jkXj\ogi\j`fe\jj\gl\[\elk`c`qXiZfecX`ek\eZ`e[\[Xi}e`dfj#
efidXjj\Xi^ld\ekXej`ee\$ g\if\jd\afiZfeZi\kXicfhl\_XZ\Y`\ep\m`kXi]fd\ekXicX
Z\j`[X[[\i\Zlii`iXcfj^i`kfj Zfdg\k`k`m`[X[%
e`XcXgi[`[X[\Zfekifc%
>\e\iXc`qXZ`e ½EleZXefjfY\[\Z\j#j`\dgi\efjcc\mXjcXZfekiXi`X¾
` ¶:dfj\j`\ek\ecfjgX[i\j6
Efgl\[\j\im\i[X[hl\eleZXfY\[\qZXe`hl\_X^Xj`\dgi\kf[f
JXk`j]\Z_fj# i\cXaX[fj p Zfe
dXc%<jd\afii\ZfefZ\icfhl\_XZ\Y`\epZfeZi\kXic\cfhl\gl\[\
XlkfZfekifc%Ef`dgfe\ejlj
_XZ\id\afi%
Zi`k\i`fj[\]fidXXlkfi`kXi`X#
g\ifjfe\ccfjcfjhl\dXe[Xe
pcfjhl\\jkXYc\Z\ecfjcd`k\j% <og\ZkXk`mXje\^Xk`mXj ½MXjXjljg\e[\i¾%½<c[X[\dXXeXmXjXj\ile`ek`c¾
CfjgX[i\jk`\e\e\eZl\ekXcX <cg\jf[\cX\og\ZkXk`mX[\c]iXZXjfgl\[\k\id`eXi\e[\jdfk`$
fg`e`e[\cfj_`afj#g\if\ccfj mXZ`e%PcXj]iXj\jgif]k`ZXjjl\c\ehl\[Xi^iXYX[Xj\ecXd\ek\
[\Z`[\e% pgXjXiX]fidXigXik\[\cXlkfZfeZ\gkf%<jd\afi]fidlcXi\jkXj
`[\Xj\egfj`k`mf1½J`k\\j]l\iqXjZfej\^l`i}jXgifYXikf[f¾%
` ¶Pcfj_`afj6J\j`\ek\eXgi\$
Z`X[fj#mXcfiX[fjpi\jg\kX[fj% <k`hl\kXj ½<i\jdXcf¾%½HldXc\[lZX[f\i\j¾
Jfee`fjZfeleXX[\ZlX[X
Xlkf\jk`dX# \hl`c`YiX[fj p Jfe]iXj\j\ecXjhl\j\lk`c`qX\cm\iYf½j\i¾gXiXZXc`ÔZXi%<e\jkfj
\jkXYc\j \dfZ`feXcd\ek\ ZXjfjj\kiXejd`k\\cd\ejXa\[\hl\\cgifYc\dX\jXc^f`e\m`kX$
hl\Xjlm\qjfeZXgXZ\j[\ Yc\#j`egfj`Y`c`[X[[\ZXdY`f%CX[`]\i\eZ`X\eki\[\Z`i½\i\jdXcf¾
\jkXYc\Z\ii\cXZ`fe\jjfZ`Xc\j p½k\\jk}jgfikXe[fdXc¾\j\m`[\ek\%
gfj`k`mXjp\ei`hl\Z\[fiXj%
G\if#\ecXm`[Xi\Xc#¶\o`jk\e
]Xd`c`Xjhl\Zfej`^l\e[\m\i$
[X[j\iXj\ik`mXj6;\j[\cl\^f
hl\j%8cd\efj#cfZfej`^l\e
cXdXpfiX[\cXjm\Z\j#p[\
\jfd`jdfj\kiXkX%%%
)4 &## 02/'2!-!
ÓY^W :.''
CXjgi`d\iXj_XY`c`[X[\j[\i\cXZ`ejfZ`Xc
_3ALUDAõAõLOSõABUELITOSõ
JXcl[Xi#[XicXj^iXZ`Xjpg\[`igfi
]Xmfijfe#ZXj`Zfekf[Xj\^li`[X[#
cXjki\jgi`d\iXj_XY`c`[X[\jjfZ`Xc\j
hl\Xgi\e[\\cj\i_ldXef%FkiXj
d}jZfdgc\aXj#ZfdfdXek\e\ileX
Zfem\ijXZ`e#\ogi\jXicXjgifg`Xj
\dfZ`fe\jfi\XZZ`feXi[\]fidX
Xj\ik`mXXek\leXZik`ZXg\ijfeXc#
jfeZfe[lZkXjhl\\efZXj`fe\jef
j\cc\^XeX[fd`eXieleZX#e`j`hl`\iX
\ecX\[X[X[lckX%P\jleXg\eX#pX
hl\jfecXYXj\[\cY`\e\jkXi]j`Zfp
\dfZ`feXc[\ZlXchl`\ig\ijfeX%
+%:lXe[fZfd\k\jle\iifi
gl\[\j X[d`k`icf j`e Xm\i$
^feqXik\%
,%Efk`\e\jfYc`^XZ`e[\jX$
Y\icfkf[f%Gl\[\j[\Z`i½ef
j¾j`ej\ek`i\dXc%
-%Efk`\e\jgfihlj\iXd`^f
[\kf[fje`k`\e\jhl\ZX\iY`\e
Xkf[f\cdle[f%
.%Efk`\e\jgfihl[\dfjkiXi
XeX[`\hl\k`\e\jiXqe%
/%Gl\[\j[\Z`i½efcf\ek`\e$
[f¾j`ed`\[fXchl[`i}e%
EX[`\\jg\i]\Zkf#kkXdgfZf1
k`\e\j[\i\Z_fXj\i#j`dgc\$
d\ek\#k%
)4 &## 02/'2!-!
ÓY^W :.'(
:lXe[fcfj_`afjjfed\efi\j[\\[X[
3EPARACIONESõDIVORCIOSõYõNI¿OS
<jle[lif^fcg\gXiXcfje`fj#jfYi\kf[fgXiXcfjd}jg\hl\fj%?XYcXdfj[\ilgkliXj#j\gXiXZ`fe\jp
[`mfiZ`fj%;X`^lXchl\cXjZ`]iXjj\[`jgXi\ephl\cXjZfek\dgc\dfjZfeeXkliXc`[X[1\e<jgXX#ZX[Xki\j
d`elkfjpd\[`fj\[`jl\cm\ledXki`dfe`f%P\eZXj`cXd`kX[[\cfjZXjfj\o`jk\Xc^ed\efihl\j\hl\[X
]l\iX[\al\^f#Xcd\efjgfilek`\dgf%CXXej`\[X[#cX`ej\^li`[X[#\cd`\[ffcXki`jk\qXjfeXc^leXj[\cXj
\dfZ`fe\jgficXjhl\jl\c\egXjXikf[fjcfjd`\dYifj[\cX]Xd`c`X#efjfcfcfj_`afj#ZlXe[fm`m\e\jk\
gifZ\jf[\Z\iZX%
)4 &## 02/'2!-!
ÓY^W :.')
<cgifZ\jf[\X[XgkXZ`e[\cXjj\^le[XjgXi\aXjZfe_`afj
,AõNOVIAõDEõMIõPADREõ
DX[iXjkiX%Jl\eXXcXdXcX[\cZl\ekf#gfiZlcgX[\½:\e`Z`\ekX¾pkXekfjfkifji\cXkfj`e]Xek`c\j\ecfjhl\
\jkXÔ^liXj`\dgi\_Xj`[f\cg\ijfeXa\d}j[\jgi\Z`XYc\[\cX_`jkfi`X%8jhl\\jkXZ`iZlejkXeZ`XkXdgfZf
Xpl[XXhl\cfje`fjhl\j\m\efYc`^X[fjXXZ\gkXiXcXjel\mXjgXi\aXj[\jljgX[i\jXj`d`c\e\cZXdY`f
ZfeeXkliXc`[X[%
¶PKèHL@yE<I<JG8I8
:8JK@>8ID<6
<ecXjj\^le[XjgXi\aXjZfe
_`afj# cX [`jZ`gc`eX jl\c\
gcXek\XiXc^lefjgifYc\dXj%
CXXlkfi`[X[[\gX[iXjkifjp
dX[iXjkiXjefjl\c\j\iY`\e
XZ\gkX[Xgficfje`fjpg\fi
gficfjX[fc\jZ\ek\j _XjkXhl\
j\\jkXYc\Z\leXi\cXZ`eXd`j$
kfjX#hl\gl\[\kXi[Xi\ecc\^Xi
lefj[fjXfj%:fdfefidX
^\e\iXc#\cgX[i\fcXdX[i\
[\Y\\jkXYc\Z\icXjefidXjp
_XZ\icXjZldgc`i2g\ifcXel\mX
gXi\aX[\Y\j\iZf_\i\ek\Zfe
\jkfjZi`k\i`fjXcX_fiX[\\j$
kXYc\Z\icd`k\jpi\^cXj%
)4 &## 02/'2!-!
ÓY^W :.'*
:df\ogc`ZXi\ck\iifi`jdfXcfje`fj
z0ORõQU·õLOSõMATARON
:l\igfjdlk`cX[fj#ZX[}m\i\j\jgXiZ`[fjp]Xd`c`Xi\j[\j\jg\iX[fj%Kf[XjcXjk\c\m`j`fe\jdfjkiXifecXj
`d}^\e\j[\cXjmZk`dXj[\cXk\ekX[fk\iifi`jkXfZlii`[f\eDX[i`[\c(($D%8cfjX[lckfjefefjj\i}]}Z`c
jlg\iXi\cXk\ekX[f#g\if¶pXcfje`fj6<ccfj_Xej`[fk\jk`^fj[\leXdXjXZi\hl\#Xlehl\ef_XpXem`m`[f
\e[`i\Zkf#c\jZfjkXi}dlZ_ffcm`[Xi1jfei\Zl\i[fj[\dXj`X[f[lifj\`eZfdgi\ej`Yc\j%
8lehl\[`]Z`c\j#cXjZfem\ijX$ Z`fe\jZ`l[X[XeXj#j`pXk`\e\
Z`fe\j\eki\gX[i\j\_`afjk`\$ Z`\ikX\[X[%
e\eXhlleX\jg\Z`Xc`dgfi$
kXeZ`X#gXiX`ek\ekXihl\jlj ` KiXejd`k\kljg\ejXd`\e$
m}jkX^fj\ek`\e[Xe\cdle[f kfj p j\ek`d`\ekfj jfYi\ \c
\e\chl\m`m\e%<jkXjjfeleXj k\dXZfekfkXcZcXi`[X[1ck\
fi`\ekXZ`fe\jgXiXgif^\e`kf$ \ek\e[\i}%
i\jhl\j\\e]i\ekXeXcX[`]Z`c
kXi\X[\\ogc`ZXic\jXcfjd}j *%;Xc\Xgfpf1
am\e\j ZfeZ\gkfj Zfdf cX ` LjX\ckfef\dfZ`feXcX[\$
m`fc\eZ`X#\ck\iifi`jdffcX ZlX[f%<ce`fgl\[\p[\Y\
^l\iiX%Jfeki\j`[\Xj1 g\iZ`Y`ihl\cfjX[lckfj\jk}e
ki`jk\jphl\cfj`\ek\ekXekf
(%<jZZ_Xcf1 Zfdfc#g\ifeleZXhl\_Xe
` :i\Xlek`\dgfplecl^Xii\$ g\i[`[f\cZfekifc%Efj\gl\$
cXaX[fgXiX_XYcXi[\ck\dX% [\[\Z`i[\cXek\[\cZfjXj
Zfdf½pfkXdY`ed\hl`\if
` Ef[\jd}j`e]fidXZ`ehl\ dfi`i¾ f ½¶hl mX X j\i [\
cXhl\gl\[XXjld`i1cdXiZX$ efjfkifj6¾%
i}cfjcd`k\j#gi\^lekXe[fd}j
fZXdY`Xe[f[\k\dX% ` F]iZ\c\^XiXekX\ei\cXZ`e
Zfe jl j\^li`[X[ g\ijfeXc#
` Efc\ZfekiXi\jj`j\[\Ô\e$ [\aXe[fZcXifhl\k\jkXi}j
[\Xi^ld\ekXe[fhl\cfjXZkfj j`\dgi\XjlcX[f%
[\k\iifi`jdffZlii\e½dlp
c\afj[\Xhl¾%GifYXYc\d\ek\
e\Z\j`k\g\ejXiXjgXiXj\ek`i$
j\j\^lif%
)%I\jgfe[\Xjlj
gi\^lekXj1
` <m`kX\jk\i\fk`gXiXcfj^il$
gfj[\g\ijfeXjgfijliXqX#
eXZ`feXc`[X[fi\c`^`e%
` =XZ`ckXc\jlZfcXYfiXZ`eX
kiXmj[\[`Ylafj#j`\jg\hl\$
f#fXj`jk`\e[fXdXe`]\jkX$
<E9I<M<
JH;IFH;=KDJ7I9B7L;
ÓY^W :.'*
<ej`klXZ`fe\jkXe[iXd}k`ZXjZfdfcXjhl\j\[Xe\ecfjXk\ekX[fjk\iifi`jkXj#lefj\hl\[Xj`egXcX$
YiXjXek\cfj`ek\iif^Xek\j[\cfjd}jg\hl\fj%Gfi\jf#Xcd\efj_Xphl\k\e\iZcXif\chl#\cZdf
p\chl`e1
¶GL<;F@ID<8AL>8IP86
8%¶Hl[\Z`i6
DlZ_fje`fj#[\jglj[\leX EleZXd\ek`i%J\c\jgl\[\[\Z`ijfcfXhl\ccfhl\gl\[Xe\ek\e[\i%?Xphl\k\e\i\eZl\ekXjl\[X[p
Zfem\ijXZ`ej\i`XjfYi\le e`m\c[\Zfdgi\ej`e1kXeXYjli[fj\iX[Xi\ogc`ZXZ`fe\j\oZ\j`mXjXlee`f[\*XfjZfdf\m`kXicXj
Xk\ekX[fk\iifi`jkX#i\XZZ`feXe Xlef[\((%
j`eXgXi\ek\i\jgl\jkX\dfZ`f$
eXc#gfi\a\dgcfgi\^lekXe[f 9%¶:df[\Z`icf6
j`j\gl\[\e`iXal^XipX%<j
:feeXkliXc`[X[#j`eYljZXij`klXZ`fe\jjfc\de\jfXX[`i[iXdXk`jdfXcXjlekf%CXjefk`Z`Xjd}j
cXd`jdXi\XZZ`e\^fjkXhl\
^iXm\j#\eZXjf[\hl\cXj_XpX#j\gl\[\e]iXZZ`feXi[\dXe\iXhl\gl\[Xe`iXj`d`c}e[fcXjgfZfX
gl\[\ek\e\iXek\cXefk`Z`X[\
gfZf%J`\dgi\hl\j\Xgfj`Yc\#_Xphl\YljZXiXc^eXjg\Zkfgfj`k`mfhl\j`imX[\Zfejl\cf#[\ck`gf
hl\le]Xd`c`Xi_X]Xcc\Z`[f1
½efjl]i`eX[X¾#fhl\cXdXjXZi\gf[X_XY\ij`[fdlZ_fdXpfip_lYfjl\ik\\e\ci\kiXjf[\cki\e%
½¶P X_fiX hl`e d\ Xpl[X
X d X _XZ\i cfj [\Y\i\j6¾% :%¶Hl`e[\Y\_XZ\icf6
G\if ef _Xp hl\ ZfeÔXij\
Xek\\jk\XgXi\ek\\jkX[f[\ J`\dgi\cXjg\ijfeXjdXjgio`dXj%Jfcf\e\cZXjf[\hl\dXe`Ô\jk\fkifjjekfdXjk\iifi\jefZkli$
Zfekifc\dfZ`feXc#pXhl\\e efj#i\^i\j`fe\j#ZXdY`fj[\_ldfi%%% i\jlckXZfem\e`\ek\g\[`iXpl[Xgif]\j`feXc%
\c]lklifgl\[\jXc`iXÕfk\\e
]fidX[\gifYc\dXj[\Zfd$
gfikXd`\ekff[\[`ÔZlckX[\j
gXiX[fid`i%
@EK<IGI<K8IC8J@DÝ><E<J
>l\iiXj#Xk\ekX[fjk\iifi`jkXj#
\a\ZlZ`fe\jdXj`mXj#`edfcX$
Z`fe\j%%% CXj `d}^\e\j d}j
Zil[Xjefjcc\^XeXkiXmj[\
cXjk\c\m`j`fe\j%CfjZXeXc\j[\
efk`Z`Xj[liXek\cXj)+_fiXj#
cXjkiXejd`j`fe\j\e[`i\Zkf
[\j[\\c]i\ek\[\YXkXccXpcX
Ôcfjf]X[\i\g\k`ileXpfkiX
m\q cXj [Xek\jZXj `d}^\e\j
[\cfjXk\ekX[fjd}jZil\c\j
gfe\cXjZfjXj]}Z`c\jXcfje`$
fjgXiXhl\j\Zi\\ed`\[fj
p\jkX[fj[\Xej`\[X[%:fekif$
cXic\j\ck`\dgfhl\[\[`ZXeX
m\icXjefk`Z`Xj#\`ek\igi\kXicXj
\eZfealekf#gl\[\Xpl[XiX
hl\\ek`\e[Xed\afi\cdle[f
hl\cfjif[\X%
5G8I8J89<IDÝJ
nnn%lZd%\j
)4 &## 02/'2!-!
ÓY^W :.'+
Cfji`\j^fj[\@ek\ie\k
%SõDIVERTIDOõPEROõNOõESõUNõJUGUETE
¶?fcX6#¶hl`e\jk}XcfkifcX[f6<e@ek\ie\keleZXj\jXY\%?XZ\ij\gXjXigfifkiXg\ijfeXXkiXmj[\le
Z_XkfZfii\f\c\Zkie`Zf\jdlZ_fd}j]}Z`cpYXiXkfhl\[`j]iXqXij\\eZXieXmXc\j%J`e\dYXi^f#dlZ_fj
e`fjpX[fc\jZ\ek\j[\jZfefZ\egfiZfdgc\kfleXjefidXjde`dXj[\Xlkfgifk\ZZ`e#hl`q}gfihl\ef
jfeZfejZ`\ek\j[\jlji`\j^fj#hl\j\gl\[\ei\jld`i\eZlXkifglekfj%
)4 &## 02/'2!-!
ÓY^W :.',
CXk\c\m`j`e[\dXcXZXc`[X[
4ELEBASURAõAõLAõVISTA
D}j[\cXd`kX[[\cfje`fjpX[fc\jZ\ek\j J\_XYcXdlZ_fjfYi\cXdXcX I\Zfd\e[XZ`fe\j
\jgXfc\jk`\e\e[fjk\c\m`j`fe\j\eZXjXp ZXc`[X[[\cXk\c\m`j`e#[\jl
]XckX[\Zfek\e`[fjXkiXZk`mfj <e [\Ôe`k`mX# ef gf[\dfj
Xc^fd}j[\c*'Zl\ekXZfeleX[\\ccXj\ejl
p[\cXld\ekf[\cXk\c\YXjliX% ZXdY`Xi\c_\Z_f[\hl\cfj
_XY`kXZ`e%<eZlXchl`\iZXjf#cXhl`ekXgXik\ 8c\jg\ZkX[fijfcfj\cfd\e$ e`fjm\XecXk\c\m`j`e#g\ifj
Xj\^liXm\icX\ejfc`kXi`fcXdXpfiX[\cXjm\Z\j% Z`feX Zfdf mZk`dX [\ \jkX cX]fidX\ehl\cf_XZ\e%Gi\$
j`klXZ`e% J`e \dYXi^f cfj [`ZXiZfe\c\a\dgcf\jleX[\
¶Phl\jcfhl\m\e6;\kf[f#e`d}je`d\efj%
i\jgfejXYc\j[\cXk\c\m`j`e cXjZcXm\j%:fd\ekXicfjgif$
:fecXZXek`[X[[\ZXeXc\jhl\\jk}eXjlXcZXeZ\# aljk`ÔZXecXj\c\ZZ`e[\gif$ ^iXdXjZfe\ccfj#lk`c`qXicfj
ZfekXejfcfqXg\Xi[\j[\\cZdf[fj`ccej\ ^iXdXjgXiXjljZX[\eXjZfe `e]fidXk`mfjgXiX\ogc`ZXicX
\cXi^ld\ekf[\hl\c\[Xe i\Xc`[X[#j\c\ZZ`feXicfjgif$
gl\[\ek`iXi_fiXjp_fiXjZfejld`\e[f`d}^\e\j
Xc gYc`Zf cf hl\ \jk\ g`[\% ^iXdXjhl\j\hl`\i\em\ip
XkiXZk`mXjp[`i\ZkXj%;\_\Z_f#leZfdgfikXd`\ekf <j# \e [\Ôe`k`mX# le ZiZlcf ef\jkXiXcXZX[XfX[fgkXi
ZX[Xm\qd}j]i\Zl\ek\\ee`fjpdXpfi\j m`Z`fjfgfi\chl\gif^iXdXj _}Y`kfjkXe`ek\i\jXek\j
kXeZi`k`ZX[fjp[\jgi\Z`X[fj Zfdf ef \eZ\e[\i \c
\j\c[\cccXdX[f½\jg\ZkX[fie\im`fjf\
Zfdf>iXe?\idXefgifc`$ XgXiXkf [liXek\ cXj
`ejXk`j]\Z_f¾#hl\j\j`\ekX[\cXek\[\c ]\iXegi}Zk`ZXd\ek\\e Zfd`[Xj jfe Xc^lefj
k\c\m`jfij`ek\e\ieX[XZcXifcfhl\c\^ljkXiX kf[fjcfjZXeXc\j[\ i\ZlijfjgXiXZfej\^l`icX
k\c\m`j`e% k\c\Xc]XY\k`qXZ`e[\kf[XcX
m\i%J`ekfe`qXlegif^iXdXg\ifcfXYXe[feX\e
]Xd`c`X%
\cgi`d\iZfik\glYc`Z`kXi`fgXiXYljZXifkifhl\
[\aXi}gfi]XckX[\`ek\ijfgfileXel\mXgXljX
gXiXcfjXeleZ`fj%8j#_XjkXhl\#ZXj`gfi
XYlii`d`\ekf#\jZXgXq[\[\jZfe\ZkXi
\cXgXiXkf%<ci\jlckX[f1leYXk`Ylii`ccf
d\ekXc\e\chl\lefj\_X
kiX^X[fd\[`X_fiX[\g\cZlcX
[\XZZ`e#[`\qd`elkfj[\
ZfeZlijf#cfj[\gfik\j[\c
k\c\[`Xi`f#lefjZlXekfj
XeleZ`fjdlpY`\e_\Z_fjp
\cÔeXc[\leXj\i`\%<jfj#
cfhl\Xc\jg\ZkX[fiZfdglcj`mf
eleZXj\c\gXjgficXZXY\qX]l\cX
[\jZXY\ccX[X`[\X[\XgX^XicXk\c\p
[\[`ZXij\XfkiXZfjX%
<E9I<M<
:;GKx>78B7CEI
ÓY^W :.',
Cfjgif^iXdXj[\efd`eX[fj[\k\c\YXjliX_Xecc\mX[fXdlZ_Xjg\ijfeXjX\ogi\jXijlgifk\jkXgXiX
Zfej\^l`ihl\[\jXgXi\qZXe[\cXgXii`ccX%Lef[\cfjd}jZi`k`ZX[fj#½KdYfcX¾#_X[\aX[f[\\d`k`ij\
\ecXk\c\m`j`egYc`ZXdX[i`c\X%Jl[\Ôe`Z`e\eZ`eZfglekfjgf[iXj\icXj`^l`\ek\1
KI898A8I#;FID@IPQ8G<8I
( CXk\c\YXjliXj\ZXiXZk\i`qXgfi\ogcfkXi\cdfiYf#\cj\ejXZ`feXc`jdfp\c\jZ}e[XcfZfdf^XeZ_f
<e(00/cfj\jgXfc\jZfejl$ gXiXXkiX\iXcXXl[`\eZ`X%
d`dfj)((d`elkfj[\k\c\gfi ) Cfjgifdfkfi\j[\\jk\k`gf[\k\c\m`j`ei\Zlii\eZfe]i\Zl\eZ`XXcj\of#XcXm`fc\eZ`X#XcXj\ej`$
g\ijfeXp[X%Cfhl\jlgfe\ Yc\iXf`eZcljfXcXjlg\ijk`Z`egXiXZfej\^l`i^iXe[\jdXjXj[\\jg\ZkX[fi\j%
hl\cXk\iZ\iXXZk`m`[X[[\cfj
\jgXfc\j#[\jglj[\kiXYX$ * 9XafleXXgXi`\eZ`X_`gZi`kX[\gi\fZlgXZ`ep[\eleZ`X#\jkfjgif^iXdXjj\i\^f[\XeZfecX
aXip[fid`i#\j\jkXi]i\ek\ \o_`Y`Z`e[\j\ek`d`\ekfj#Xm\Z\j]Xcjfj#[\jkXgXe[fcfjXjg\Zkfjd}jji[`[fjpZlki\j[\lefjp
Xck\c\m`jfi%Hl\[XifeXki}j fkifj%
Xhl\ccfj(/+d`elkfjXc[Xhl\ + CX\efid\`eÕl\eZ`XjfZ`Xc[\cfjd\[`fj[\Zfdle`ZXZ`ej\\eZXi^X[\_XZ\icc\^XiXcXjdXjXj
k\eXdfjXgi`eZ`g`fj[\cfj0'#
\jkX`e]fidXZ`eXdXi`cc`jkX%J`e\dYXi^f\c^ljkfgfi\cj\ejXZ`feXc`jdfef\jeX[Xel\mf1m`\e\[\
ZlXe[fZfd\eqXYXeX\d`k`i
dlpXek`^lf%
cXjk\c\m`j`fe\jgi`mX[Xj%
, 8Zlckli`qXZ`ep[\j`e]fidXZ`egf[iXj\ijlc\dX%<c^ljkfgficXjk\fiXjZfejg`iXkfi`Xjpcfj
<CD8E;F8;@JK8E:@8#LE jlgl\jkfj[\YXk\jZfe`em`kX[fjgif]\j`feXc\j[\cdle[`ccfifjXhl\j\cfjXY\ekf[fpjfeZXgXZ\j
;<J:L9I@D@<EKF [\_XYcXi[\ZlXchl`\ik\dXef]XckXe\e\jk\k`gf[\gif^iXdXj%
<c_\Z_f[\efk\e\ihl\c\mXe$
kXij\[\cXYlkXZXZi\Xel\mfj
ZfdgfikXd`\ekfj#Zfdf\cqX$
g\fXZZ`eZXj``eZfejZ`\ek\
[\ZXdY`Xi[\ZX[\eXZlXe[f
\dg`\qXecfjXeleZ`fj #\cÕ`g$
g`e^hl\Zfej`jk\\ejXckXi[\
leZXeXcXfkifgXiX\jkXiXc
kXekf[\cfhl\gfe\e\eZX[X
lef f\c^iXqq`e^hl\\j\c
ZfdgfikXd`\ekfe\im`fjfgfi
\chl\j\ZXdY`X[\leXZX[\eX
XfkiX_XjkX\eZfekiXiXc^fXc
XqXi %
)4 &## 02/'2!-!
ÓY^W :.'-
EfidXjY}j`ZXj[\j\^li`[X[\ecXI\[
%LõUSOõCORRECTOõDEõ)NTERNET
½8c^lefjZfdgX\ifj[\ZcXj\d\`ejlckXeXkiXmj[\cD\jj\e^\i#\jkfp_Xikf¾#gifk\jkXleXcldef[\(%²
[\<JFXek\jld\afiXd`^f%½FjXm`jf[\hl\\ePflKlY\\jk}Zfc^X[flem[\f^iXYX[f\e\jk\`ejk`klkf
\e\chl\jXc\emXi`fjXcldefjp\cgif]\jfi[\9`fcf^X¾#X[m`\ik\Xc^l`\e\ecXjXcX[\gif]\jfi\j%½M\e^f
X[\eleZ`Xihl\leX]fkfZXi`ZXkli`qX[X[\d`_`af\jk}Zfc^X[X\e\cYcf^[\leZ_`Zf[\\jk\Zfc\^`f¾#
gifk\jkXleXdX[i\Xek\\c[`i\Zkfi[\cZ\ekif%<jkXjel\mXjj`klXZ`fe\j#ZX[Xm\qd}j_XY`klXc\j\e
Zfc\^`fj\`ejk`klkfj#Zi\XedlZ_fj`ek\iif^Xek\j1¶[e[\XZXYXcXi\jgfejXY`c`[X[[\cX]Xd`c`Xp[e[\
\dg`\qXcX[\cZ\ekif\[lZXk`mf6#¶[\Y\ecfjgif]\jfi\jZfekifcXicXj`ek\im\eZ`fe\jm`iklXc\j[\jlj
Xcldefj6#¶Xlehl\j\Zfe\Zk\eX@ek\ie\k]l\iX[\c_fiXi`fc\Zk`mfp[\j[\jlZXjX6#\ekfeZ\j#¶Zl}c\j\c
gXg\c[\jljgX[i\j6#¶_Xphl\jXeZ`feXicXjj`klXZ`fe\j[\XZfjfm`iklXc[\j[\cX\jZl\cX6#¶ef\j\jkf
Zfdf`ek\ekXigfe\i[`hl\jXcdXi6
GXi\Z\ hl\ cXj i\jgl\jkXj `<c *' _X ]XZ`c`kX[f pX jl fi`^`eXc# [`m\ik`[X%%% f cfj *%G\[`ic\hl\j\X
X kf[Xj \jkXj gi\^lekXj j\ ed\if[\k\c]fef\eXc^l$ mXcfi\jhl\kiXejd`k\% Zl`[X[fjfZfejl
\eZl\ekiXe#leXm\qd}j#\e eXfZXj`e% gifg`X`ek`d`[X[p
\ci`eZe[\cj\ek`[fZfde% )%Gfe\ilecd`k\Xc ZfejlZ[`^f[\
CXj\jZl\cXj[\Y\e]fidXi\ `<e(-_X[X[fjl[`i\ZZ`e k`\dgf[\Zfe\o`e Zfe[lZkX
`e]fidXi [\ cXj el\mXj k\Z$ \eXc^e]fiffZ_Xk% :fdf\eZlXchl`\ifkiXXZk`m`$ 8c`^lXchl\\ecXm`[Xi\Xc#\e
efcf^Xj#XjZfdf`ek\im\e`i [X[#\ck`\dgf[\[\[`ZXZ`e cXm`iklXc_XpZfjXjhl\\jk}e
\ekf[XjXhl\ccXjj`klXZ`fe\j ` P\c[Xkfd}jgi\fZlgXek\1 XYlj`mfX@ek\ie\kj\kiX[lZ\ Y`\epZfjXjhl\\jk}edXc%?Xp
hl\X]\Zk\eXcXZfem`m\eZ`X \c))#,_XgXik`Z`gX[f\eleX \eled\efi\jgXZ`fgXiX\c hl\\ej\Xic\jXhl\i\jg\k\e
[\cZ\ekif%GfijlgXik\#cXj Z`kXXZ`\^XjZfeXc^l`\eZfe [\jXiifccf[\[\jki\qXjjfZ`X$ cXjefidXjp·Xhl\[`j]ilk\e
]Xd`c`Xjk`\e\elegXg\c]le$ \chl\_XZfekXZkX[fXkiXmj c\j%KXdY`e_Xphl\\m`kXi [\kf[Xjjljm\ekXaXj
[Xd\ekXc\`ejljk`kl`Yc\Zfdf [\leZ_Xk% ifYXic\_fiXjXck`\dgfhl\
i\jgfejXYc\j[\kf[fcfhl\ j\[\Y\iX[\[`ZXiX[fid`if
m\ep\og\i`d\ekXejlj_`afj 8j gl\j# cfj gX[i\j [\Y\e X_XZ\icfj[\Y\i\j%
fec`e\#[\cXd`jdX]fidXhl\ g\i[\ic\ \c d`\[f cfj hl\
\ecXm`[Xi\Xc%<cgifYc\dX\j ef \jke XZfjkldYiX[fj Xc
hl\#j\^ecfjck`dfj\jkl[`fj \ekfiefm`iklXc pXki\m\ij\X
jfYi\\ck\dX#jfcflef[\ZX[X gfe\i\edXiZ_XleXj\i`\[\
ZlXkifgX[i\jjXY\dfm\ij\ XZklXZ`fe\jhl\fgk`d`Z\ecX
gficXI\[%Pgfi\jfj\Zfe$ j\^li`[X[[\cd\efi\e@ek\i$
m`\ik\\ek\ii`kfi`fZfdXeZ_\ e\k%Gfi\a\dgcf1
gXiX le ^iXe gfiZ\ekXa\ [\
e`fjpX[fc\jZ\ek\j% (%EXm\^XiZfec
p[`Xcf^XijfYi\
;\_\Z_f#cfj[Xkfji\m\cXe cfj[`]\i\ek\j
hl\1 Zfek\e`[fj
` MXcfiXi cX ZXc`[X[
` <c,-[\cfjd\efi\jef ]fidXc[\cXjg}^`eXj1
_Xi\Z`Y`[fe`e^leX`e]fidX$ cX]XZ`c`[X[ZfecXhl\
Z`ejfYi\efidXjY}j`ZXj[\ j\[\jZXi^Xe#cXZXek`[X[
j\^li`[X[% [\glYc`Z`[X[#\ck`gf[\
`e]fidXZ`ehl\f]i\Z\
<E9I<M<
KF;8JJLJM<EK8A8J%%%
9EDJH7JE:;9ED:K9J7M;8
ÓY^W :.'-
<jk\\jledf[\cf[\ZfekiXkf\eki\gX[i\j\_`afj#hl\gl\[\X[XgkXij\XcX\[X[[\cd\efi#phl\j`im\
gXiX\m`kXidXc\ek\e[`[fj%
8kiXmj[\@ek\ie\k#cfjd\$
efi\j¿ Pf#d\Zfdgifd\kfX1
( :fe\ZkXid\X@ek\ie\kjfcf\ck`\dgfgXZkX[f%%%%%%%%%d`elkfj[`Xi`fj %
` 8ZZ\[\e[\]fidX`ed\[`XkX
Xdlck`kl[[\ZfefZ`d`\ekfj ) Ef[XieleZX`e]fidXZ`eg\ijfeXcZfdfd`efdYi\Zfdgc\kf#[`i\ZZ`e#ed\if[\k\c]fef#kXia\$
\ogl\jkfj [\ ]fidX dlp kX[\Zi[`kff[XkfjjfYi\d`Zfc\^`f%
XkiXZk`mX% * 8m`jXi[\`ed\[`Xkfj`m\ffi\Z`YfXc^fhl\d\_X^Xj\ek`id\`eZdf[ffXd\eXqX[f2\jkf`eZclp\
d\ejXa\j[\Zfii\f\c\Zkie`Zf#j`k`fjn\Yf`eZcljf\cZfii\fefidXchl\dXek\e^fZfed`jXd`^fj
` 8gi\e[\eX\jkXYc\Z\iZi`k\$
\e@ek\ie\k%
i`fj[\j\c\ZZ`e[\`e]fidX$
Z`ep[\jXiifccXe\c\jgi`kl + EfZ`kXid\eleZXZfeeX[`\hl\_XpXZfefZ`[f\ecXI\[j`e\cZfefZ`d`\ekf[\d`jgX[i\j%
Zik`Zf%
, Ef\em`Xi]fkfjdXj#[\]Xd`c`Xi\jfXd`^fjXfkiXjg\ijfeXje`kXdgfZfZfc^XicXj\eYcf^jfg}^`$
` 8ld\ekXejldfk`mXZ`e_X$ eXjn\Y%
Z`X[`jk`ekfjk`gfj[\`e]fidX$ - Ef[\Z`ieleZXd`jZfekiXj\Xj[\@ek\ie\kXeX[`\hl\efj\Xed`jgX[i\j#e`j`hl`\iXXd`jd\af$
Z`e`ek\^iXjfe`[f#`dX^\e# i\jXd`^fj%
k\okf#^i}ÔZfjpXe`dXZ`e %
. Ef_XZ\ieX[Xhl\gl\[Xdfc\jkXif\e]X[XiXfkiXjg\ijfeXj_XYcXidXc[\fkifj#`ejlckXi#i`[`Zlc`$
` 8ZZ\[\e X kf[X leX j\i`\ qXi%%% p[XiXm`jfXXc^eX[lckfXek\leXj`klXZ`e[\Z`Y\iXZfjfXleZfdgX\if%
[\`e]fidXZ`ei\cXk`mXXjlj / Efi\Xc`qXie`e^eXZkf`c\^XcZfdf[\jZXi^Xidj`ZX#g\cZlcXjfgif^iXdXjj`e\cg\id`jfZfii\j$
_fYY`\j#XÔZ`fe\j#ZXekXek\j#
gfe[`\ek\%
^ilgfj]Xmfi`kfj¿
0 Efi\Xc`qXie`e^leXZfdgiXj`ecXXlkfi`qXZ`e[\d`jgX[i\j%
` @ek\iZXdY`Xe `[\Xj Zfe
(';\aXihl\d`jgX[i\jZfefqZXed`jefdYi\jpZfekiXj\Xj[\@ek\ie\k%
`ek\icfZlkfi\j [\ ZlXchl`\i
glekf[\cgcXe\kXp^fqXe[\
leXgcXkX]fidXgXiX\ogi\jXi$
j\pfg`eXi% =\Z_XpÔidX1
P8C>LEFJI@<J>FJ
` K`\e\eXjlXcZXeZ\Zfek\e`$
[fjefZ`mfjm`fc\eZ`X#[if^Xj#
gfief^iX]X#\kZ% pZfek\e`[fj
`e\oXZkfjfgfZfÔXYc\j%
` <jk}e\eZfekXZkfZfe[\j$
ZfefZ`[fjpcfjg\[\iXjkXjj\
dl\m\eZfdfg\q\e\cX^lX
\e@ek\ie\k %
` Gl\[\em\ij\`emfclZiX[fj\e
j`klXZ`fe\j[\Z`Y\iXZfjfZfdf
mZk`dXjfZfdfXZfjX[fi\j %
` Gl\[\eXZXYXiX`jc}e[fj\\e
\oZ\jfpjljk`klp\e[fcXjZfd$
gXXji\Xc\jgficXjm`iklXc\j#
jfYi\kf[fZlXe[f\o`jk\egif$
Yc\dXj[\jfZ`Xc`qXZ`e
` Gl\[\g\ial[`ZXiXjlk`\dgf
[\\jkl[`f#[\[\jZXejff[\
i\Xc`qXZ`e[\XZk`m`[X[\jXc
X`i\c`Yi\%
)4 &## 02/'2!-!
<?9>7
:/
!P·NDICE
)4 &## 02/'2!-!
ÓY^W :/'
j`\dgi\[\j\dg\\cgXg\c )%8aljkXi cX `ek\im\eZ`e
8GyE;@:< [\klkfi#Xj\jfipfi`\ekX[fi \[lZXk`mX X cXj e\Z\j`[X[\j
[\jljXcldefj %Gfi\jf#cf gXik`ZlcXi\j[\ZX[XXcldef%
hl\\ei\Xc`[X[_XZXdY`X[f
LeX]leZ`ehl\ZfdgXik\e \ecfjck`dfjk`\dgfj_Xj`[f
cX ZfeZ\gZ`e [\c kid`ef1
*%=Xmfi\Z\i \c XlkfZfefZ`$
d`\ekf#cXdX[li\qg\ijfeXc
fi`\ekX[fi\j#klkfi\jp[fZ\ek\j X_fiXj\\ek`\e[\cXfi`\ekX$
Z`e\[lZXk`mXpgif]\j`feXc
p \c [\jXiifccf [\ cX gifg`X
`[\ek`[X[%
Zfdfle[\i\Z_fhl\k`\e\e
kf[fjcfjXcldefj#pefjfcf +% ;`eXd`qXi cX i\cXZ`e
EDUCATIVA gXik`Z`gXegif]\jfi\j#klkfi\j
p]Xd`c`X2j\iXXYjli[fg\ejXi
hl\\jjfcfi\jgfejXY`c`[X[[\
,%Gi\m\e`icXj[`ÔZlckX[\j[\
Xgi\e[`qXa\p[\X[XgkXZ`e%
lefi`\ekX[fifgj`Zcf^fZfe
[fk\j[\dX^fZXgXq[\jfcl$ <jk\ ck`df glekf \j \jg\$
<c½cfhl\if¾#[\ZXeXcgi`eZ`g`fXc^lefj Z`feXikf[fjcfjgifYc\dXj%8 Z`Xcd\ek\`dgfikXek\pXhl\
\jkl[`Xek\j2\c½gXhl`jkXe¾f½gXhl\jkXhl¾# \jkXjXckliXjjXY\dfjhl\cfj _XjkX _XZ\ gfZf k`\dgf j\
ccXe\ifjjfc`kXi`fjjfcfki`le]Xe Zfej`[\iXYX cX fi`\ekXZ`e
Yifd\XYXelefjZlXekfjgif]\jfi\j2½·\c
\ecXj_`jkfi`Xj[\ÔZZ`e1gXiX Zfdflej\im`Z`fk\iXglk`Zf
gj`Zcf^f¾#j\Xk\dfi`qXYXd}j[\leXdX[i\% \e]i\ekXij\XcXj[`ÔZlckX[\j [`i`^`[f X cfj dXc ccXdX[fj
?XgXjX[fgfZfd}j[\leX[ZX[X[\j[\hl\ \jZfcXi\jZfk`[`XeXjj\e\Z\j`$ Z_`Zfj$gifYc\dX# fcm`[Xe[f
kXcXgXik`Z`gXZ`ep\c\j]l\iqf \cZfek\okfp\cXdY`\ek\hl\
cfjfi`\ekX[fi\jj\\dg\qXifeXZfcXi[\dXe\iX
[\kf[fjcfj`dgc`ZX[fj% cfj ^\e\iXYX% ?fp \e [X cX
^\e\iXc`qX[X\ecfjZ\ekifj\[lZXk`mfjp#Xlehl\ fi`\ekXZ`e gi\k\e[\ X[\$
hl\[XdlZ_fgfiZfej\^l`i#Xcd\efj_fp\j\c[X 8j\jhl\#\ecXgi}Zk`ZX#cX cXekXij\XcXXgXi`Z`e[\cXj
i\jgfejXY`c`[X[[\cXfi`\ekX$ [`ÔZlckX[\jZfecXgl\jkX\e
\ehl\Xcldefj#gif]\jfi\jp]Xd`c`XjZfeZ`Y\ecfj
Z`e\j[\1 dXiZ_X[\gif^iXdXjgi\m\e$
[\gXikXd\ekfj[\fi`\ekXZ`eZfdfgXik\[\cXm`[X k`mfj#Zfdfcfj[\\[lZXZ`e
[`Xi`X[\cZ\ekif%PefZfdflej\im`Z`f\oZ\gZ`feXc (%Cfjgif]\jfi\j#Xcfjhl\j\ j\olXc#i\jfclZ`e[\ZfeÕ`Zkfj
Zfej`[\iX\cgi`d\ie`m\c[\ `ek\ig\ijfeXc\j# gi\m\eZ`e
e`dlZ_fd\efjg\c`^ifjf%
fi`\ekXZ`e% [\[if^f[\g\e[\eZ`Xj#gi}Z$
k`ZX[\_XY`c`[X[\jjfZ`Xc\jf
)%Cfjklkfi\j#Zfdfi\jgfejX$ kZe`ZXj[\kiXYXaf`ek\c\ZklXc#
Yc\jd}j[`i\Zkfj[\le^ilgf ]le[Xd\ekXc\j \e cX clZ_X
[\Xcldefj% ZfekiX\c]iXZXjf\jZfcXifcX
G\if\dg\Z\dfjgfi_XZ\iefj 8l[`Z`epC\e^lXa\ pfkifj m`fc\eZ`X \eki\ `^lXc\j# gfi
leX gi\^lekX ]le[Xd\ekXc gif]\j`feXc\j# Zfdf cfj [\ *%Cfj [\gXikXd\ekfj [\ Z`kXijfcf[fj\a\dgcfj%
hl\efkf[f\cdle[fjXYiX =fidXZ`e p Fi`\ekXZ`e fi`\ekXZ`e#hl\XgfikXeXj\$
i\jgfe[\i1¶hl`e\jjfecfj CXYfiXc#[\g\e[`\e[f[\ce`m\c jfiXd`\ekf#XgfpfkZe`Zfp P\jkfjjfecfjfZ_fgi`eZ`$
fi`\ekX[fi\j\[lZXk`mfj6Gl\j# \[lZXk`mfXchl\j\[`i`aXe%<e XZklXZ`fe\j[`i\ZkXj% g`fj [\ cX fi`\ekXZ`e# hl\
\egfZXjgXcXYiXj#jfelefj >Xc`Z`X#X[\d}j#]leZ`feXe\e \eZ`\iiXe kf[X leX Ôcfjf]X
gif]\j`feXc\jÇgficf^\e\iXc kf[fjcfjZ\ekifj[\gi`dXi`X +%Cfj\hl`gfj[\fi`\ekXZ`e \[lZXk`mX1
c`Z\eZ`X[fj \e Gj`Zfcf^X# Zfe d}j [\ [fj ce\Xj# \j \jg\ZÔZfj# \ok\iefj X cfj
G\[X^f^XfGj`Zfg\[X^f^XÇ [\Z`i#Zfed}j[\[fj^ilgfj Z\ekifj# hl\ f]i\Z\e Xgfpf (%CXfi`\ekXZ`e]fidXgXik\
hl\[\jXiifccXejlkiXYXaf\e [\XcldefjgfiZlijf% \jg\Z`Xc`qX[f% [\cj`jk\dX\[lZXk`mfp[\cX
Xc d\efj kf[fj cfj Z\ekifj m`[X[`Xi`X[\cZ\ekif1ef\jle
gYc`Zfj [\ \[lZXZ`e CXj\^le[XZl\jk`ehl\j\ <ekfeZ\j#¶gf[\dfji\jgfe$ j\im`Z`f\oZ\gZ`feXc%
j\Zle[Xi`X [\c k\ii`kfi`f gcXek\X\j1¶gXiXhlmXc\ecfj [\i pX gXiX hl mXc\e \jkfj
\jgXfc#\eZfeZi\kf[\j[\cfj fi`\ekX[fi\j68ek\j[\i\jgfe$ j\im`Z`fj6Gl\jj#p\eZ`eZf )%8k`\e[\XcXg\ijfeXZfdf
[\gXikXd\ekfj[\fi`\ekXZ`e% [\i#_Xphl\i\Zfi[Xihl\cX glekfj%Cfj[\gXikXd\ekfj[\ le`[X[#ZfejljZXiXZk\ijk`ZXj#
8 \jkfj j\im`Z`fj kXdY`e fi`\ekXZ`eef\jle`em\ekf fi`\ekXZ`ej`im\egXiX1 c`d`kXZ`fe\jpgfk\eZ`Xc`[X[\j
g\ik\e\Z\e cfj gif]\jfi\j [\\jkfjck`dfjXfj1\jZXj` e`ZXj%
[\ Xgfpf [`gcfdX[fj \e kXe Xek`^lX Zfdf cX gifg`X (%8pl[Xi X g\ijfeXc`qXi cX
G\[X^f^X K\iXglk`ZX f XZk`m`[X[[fZ\ek\\cgif]\jfi \[lZXZ`e% *%<j le gifZ\jf Zfek`elf X
cfcXi^f[\kf[XcX\jZfcXi`$
qXZ`e#efjfcf\e\cck`df
BEIEH?;DJ7:EH;I;:K97J?LEIDEIED
¼BB7D;HEIIEB?J7H?EI½
ÓY^W :/'
ZlijffZlXe[fXgXi\Z\ecfj Cfjfi`\ekX[fi\jpXefjfe½ccXe\ifjjfc`kXi`fj¾\ele[fYc\j\ek`[f1gfihl\kiXYXaXe\e\hl`gfZfe
gifYc\dXj% klkfi\jpgif]\jfi\j%%%pgfihl\j\XjfZ`Xe%<eZfeZi\kf#\e>Xc`Z`Xd}j[\leZ\ek\eXi[\\jkfjgif]\$
j`feXc\j[\\[lZXZ`egi`dXi`Xpj\Zle[Xi`X#[\Z\ekifjgYc`Zfjpgi`mX[fj#Zfejk`klp\ife\e)'',cX
+%J\[`i`^\Xkf[fjcfjXcld$ 8jfZ`XZ`eGif]\j`feXc[\Fi`\ekXZ`e<[lZXk`mX[\>Xc`Z`X#8GF<>8C#hl\k`\e\\eki\jljÔe\jgifdfm\i
efj#pefjfcfXcfjhl\k`\e\e p[\]\e[\icXfi`\ekXZ`e\[lZXk`mX\ekf[Xjjljm\ik`\ek\j%8jlm\q#8GF<>8C]fidXgXik\[\cX:fe]\$
[`ÔZlckX[\j% [\iXZ`e[\Fi^Xe`qXZ`fe\j[\Gj`Zfg\[X^f^XpFi`\ekXZ`e[\<jgXX#:FGF<#hl\X^clk`eXlekfkXc[\
))XjfZ`XZ`fe\jg\ik\e\Z`\ek\jXcXj[`jk`ekXj:fdle`[X[\j8lkefdXj%CXZfe]\[\iXZ`e#gl\jkX\e
,%Ef \j i\jgfejXY`c`[X[ [\ dXiZ_XleXf[\jgljhl\cXXjfZ`XZ`e^Xcc\^X#`ek\^iXXfi`\ekX[fi\j#gj`Zfg\[X^f^fj#gj`Zcf^fj
lee`Zfjlg\idXefjlg\i$ \[lZXk`mfjpg\[X^f^fjhl\\a\iZ\ejl]leZ`e\e\c}dY`kf\[lZXk`mf#cXYfiXcf\dgi\jXi`Xc[\cj\Zkfi
nfdXe#j`efhl\j\i\Xc`qX\e gYc`Zfpgi`mX[f#cfhl\jlgfe\X^clk`eXiXd}j[\/%'''gif]\j`feXc\j[\kf[X<jgXX%?XjkXcX]\Z_X
\hl`gf1klkfi\j#gif]\jfi\j#gX$ pXj\_XeZ\c\YiX[fZlXkif\eZl\ekifjeXZ`feXc\j1\eKfc\[f#QXiX^fqX#Di`[Xp9li^fj%CXj`^l`\ek\
[i\jpj\im`Z`fj\jg\Z`Xc`qX[fj Z`kXj\i}#\e\c)'('#\eJ\m`ccX%
[\Y\eZfcXYfiXi%
5G8I8J89<IDÝJ
-%;`eXd`qXcX`dgi\jZ`e[`Yc\ nnn%Xgf\^Xc%Zfd#nnn%Zfgf\%fi^#
Zffg\iXZ`e\eki\cX]Xd`c`Xp
\cZ\ekif\jZfcXi%
.%<jlegifZ\jfle`kXi`fhl\
j\[\jXiifccX\eki\jm\ik`\e$
k\j1 \jZfcXi# gif]\j`feXc p
g\ijfeXc%
/%Jl^iXeXdY`Z`e\j\jkX1
ZXgXZ`kXiXcXcldefgXiXjl
gifg`XXlkffi`\ekXZ`e%
<e[\Ôe`k`mX#¶Zl}e[fj\gl\[\
g\[`iXpl[XXcfi`\ekX[fi61
` J`\i\jgX[i\1ZlXe[fhl`\iXj
`e]fidXZ`e#Xj\jfiXd`\ekff
XZcXiXiZlXchl`\i[l[XXZ\iZX
[\cX\[lZXZ`e[\kl_`af%
` J`\i\jgif]\jfi1gXiXjfc`Z`kXi
cXmXcfiXZ`e[\leXcldef#
gXiXXpl[XiXgi\gXiXicXjkl$
kfiXjfgXiXfi^Xe`qXiZ_XicXj
[\fi`\ekXZ`egif]\j`feXc#gfi
\a\dgcf%
` J`\i\jXcldef1ZlXe[fm\Xj
hl\ ef i`e[\j cf jlÔZ`\ek\2
ZlXe[fhl`\iXj`e]fidXZ`e
jfYi\\jkl[`fj#jXc`[XjcXYf$
iXc\jfefkXj[\Zfik\2ZlXe[f
j`\ekXjhl\cfje\im`fjk\kiXj$
kfieXe2ZlXe[fhl`\iXjhl\k\
Xpl[\eXjfclZ`feXi[\k\id`$
eX[fjgifYc\dXjg\ijfeXc\j
f[\i\cXZ`eZfekljZfdgX$
\ifj2ZlXe[fe\Z\j`k\jleX
kZe`ZX[\i\cXaXZ`e2ZlXe[f
k\\eZl\eki\j[\jXe`dX[f%%%
)4 &## 02/'2!-!