?

(¢ 8 L G 8 J & < ( D < A¡8 & < ( E F M F 8 &8 ( M @C C 8 > £ D < P

CHNLI>O==CóH

0),) åKOw ?M ?F G;L=I N?óLC=I >? F; CHP?MNCA;=CóH:

0),),) =hg\^imh

Af g[l]in_~lc]i)_h _f jlis_]ni^_chp_mnca[]c~h]o[hncn[ncpi)_m_f ]ihn_rni

n_~lc]i*]c_hn|`c]iko_mclp_^_\[m_[f[chp_mnca[]c~h^_f jli\f_g[]c_hn|`c]i+
Ahf[chp_mnca[]c~h]o[fcn[ncp[)l_]c\__fhig\l_^_l_pcmc~h^_f[fcn_l[nol[+Ah
[g\im_h`iko_m]ihmncnos__f`oh^[g_hnin_~lc]i^_f[chp_mnca[]c~hjilko_
_h_m_|n_g)_f chp_mnca[^il^_go_mnl[mo]ihi]cgc_hnin_~lc]i]c_hn|`c]imiÜ
\l_ f[m n_il|[m ko_ mclp_h ^_momn_hni [f jli\f_g[ ^_chp_mnca[]c~h+ O_ ^c]_
ko_ f[ chp_mnca[]c~h _moh jli]_mi ko_p[ ^_ fi]ihi]c^i[ fi ^_m]ihi]c^i)
jo_mdomn[g_hn_ _f ^igchci^_f g[l]in_~lc]i mi\l_ oh i\d_ni*jli\f_g[ _m
oh[a[l[hn|[^_ko_m__mnz_gj_t[h^i\c_h+J[^c_jo_^_chp_mnca[lohi\d_Ü
ni*jli\f_g[]os[\[m_n_~lc][^_m]ihi]_+

0),)-) @ng\bhg^l ]^e fZk\h m^~kb\h

Afg[l]in_~lc]i]ogjf_p[lc[m`oh]cih_m7

[& K`l_]__fmomn_hni]c_hn|`c]i[fjli\f_g[^_chp_mnca[]c~h7mcf[chp_mnca[Ü
]c~h j[ln_^_ f[ jlz]nc][ mi]c[f)]igib_gim^c]bi)_m h_]_m[lcil_]ollcl[
f[ n_il|[) j[l[ j_l`cf[l f[m ][l[]n_l|mnc][m ^_f i\d_ni*jli\f_g[+ Oc f[ chp_mÜ
nca[]c~h mola_^_ ohp[]|in_~lc]in[g\c{h_mh_]_m[lci l_`ilt[lho_mnlim
]ihi]cgc_hnim jl_pcim j[l[ [fog\l[l _f ][gchi ^_ f[m bcj~n_mcm+ Ji b[s
chp_mnca[]c~hmch]ihi]cgc_hnimjl_pcimmo`c]c_hn_m+

\& K`l_]_[fim`oh]cih[lcimfim_f_g_hnim^_doc]cij[l[[jli\[l_fjlis_]Ü
ni^_ chp_mnca[]c~h7 _mn_ |n_g mclp_ j[l[ ^_gimnl[l_f hcp_f ]c_hn|`c]i ^_f
chp_mnca[^il)jilko_[nl[p{m^_fg[h_di^_fim[hn_]_^_hn_m)smi\l_ni^i
^_f[m\[m_mn_~lc][m*]c_hn|`c][m_fchp_mnca[^il^_gimnl[lzko__mnz_h]ihÜ
^c]cih_m^_ l_[fct[loh ^_m]o\lcgc_hni)oh[jiln_[ f[ ]c_h]c[+Ah[faohim
jlis_]nim)_f g[l]in_~lc]i_mn[hji\l_ib[mc^ijcl[n_[^i^_n_rnim)l_Ü
pcmn[mijzach[mq_\)ko_himch^c][ko__fchp_mnca[^ilhiji^lz^_m]o\lcl
h[^[+

]& Oclp_j[l[cfogch[l_fnl[\[di^_chp_mnca[]c~h7_m]igioh`[liko_cfogcÜ
h[_fm_h^_li^_f[chp_mnca[]c~h+ Af g[l]in_~lc]i_m]igioh[ji^_lim[
fchn_lh[ ko_[fog\l[ _f ][gchi ^_ f[ chp_mnca[]c~h ]c_hn|`c][+ Oc _f g[l]i

)/+

 








D < K F ; F C F > ¡8  ; <  C 8 @E M < J K @> 8 : @£ E  : L 8 E K @K8 K@M 8  '  : L 8 C@K 8 K @M 8 O  I < ; 8 : : @£ E  ; <  K < J @J

n_~lc]i]c_hn|`c]i*`cfim~`c]i^_fchp_mnca[^il _mji\l_)m_[m_g_d[hi[oh[
fchn_lh[mchi[oh[p_f[+

0),. )=hfihg^gm^l

Afg[l]in_~lc]i)_h_f_h`iko_]o[hncn[ncpi]igjl_h^_7[hn_]_^_hn_m^_fjliÜ
\f_g[ chp_mnca[^i) \[m_mn_~lc][m i_f g[l]in_~lc]i a_h_l[fs^_`chc]c~h ^_
n{lgchim\zmc]im% ,&+

;) ;gm^\^]^gm^l) Ah_mn_mo\cn_gm_ch^c][hf[mchp_mnca[]cih_m^i]og_hn[Ü
f_m) b_g_lialz`c][m l_[fct[^[m_h_fzg\cnifi][f) h[]cih[f ichn_lh[]cih[f)
l_pcm[h^i f[mn_mcm ^_ chp_mnca[]c~h momn_hn[^[m _h f[m ohcp_lmc^[^_m)s,i
fim ch`ilg_m^_ chp_mnca[]c~h jl_m_hn[^im[ oh Ehmncnoni ^_ chp_mnca[]c~h
]igi7EJNAJ=)ECL) EI=NLA)BKNKA@Q?=PERK) EJO)EJCAIIAP) EJE=)ELAJ
?EL)?EOA)EIP%/& _n]+inl[\[dim^_chp_mnca[]c~hjl_m_hn[^im_hmcgjimcim)
]ihal_mimi [ l_pcmn[m_mj_]c[fct[^[m) ch^_r[^[m)i hi^_ fim chmncnonim^_
chp_mnca[]c~h+ Amnim[hn_]_^_hn_m fim jo_^_h _h]ihnl[l_h f[m \c\fcin_][m
ohcp_lmcn[lc[m)f[>c\fcin_][ J[]cih[fi^_chmncno]cih_mjÄ\fc][mijlcp[^[m
^_^c][^[m[f[chp_mnca[]c~h)]igif[mg_h]cih[^[m+

=^_gzm _m jimc\f_ _h]ihnl[l _mn[m ch`ilg[]cih_m _h Ehn_lh_n) oncfct[h^i

\om][^il_m_`c]c_hn_m]igiCiiaf_+ D[sohcp_lmc^[^_m_chmncno]cih_mko_
i`l_]_hmo\[h]i^_^[nimmi\l_n_mcm]igif[Ocm\c\^_f[QJIOI)f[LQ?L)
f[QOIL)?KJ?UPA?ko_s[b_gimch^c][^i+

Ji _mnz ^_gzm l_]ig_h^[lko_ _f []ijci ^_ ch`ilg[]c~h j[l[ _mn_ |n_g)
^_\_]ihmcah[lfimmcaoc_hn_m^[nim7hig\l_^_fchp_mnca[^il)`_]b[^_momÜ
n_hn[]c~h i jo\fc][]c~h ^_ f[ n_mcmi[ln|]ofi ]c_hn|`c]i) ohcp_lmc^[^ i chmÜ
ncno]c~h)_f al[^i[][^{gc]iko_m_ijn[)s`ch[fg_hn_ f[m]ih]fomcih_ms
l_]ig_h^[]cih_m+

<) <Zl^l m^~kb\Zl(\b^gm|_b\Zl) Ah [faoh[m ohcp_lmc^[^_m f[ ^_higch[h _f

g[l]i n_~lc]i a_h_l[f s _h inl[m mojo_mnim n_~lc]im+ Ah _mn_ mo\cn_g m_
^_\_^_m[lliff[lf[mn_il|[ma_h_l[f_m^_f[]c_h]c[ _h_fko_m_chm]lc\__f
jli\f_g[ chp_mnca[^i+ Ad_gjfi7_h Lmc]ifia|[) f[mn_il|[m gi^_lh[mmi\l_
_f [jl_h^ct[d_)ko_ b_gimg_h]cih[^imojl[8_h Dcmnilc[) f[n_il|[ ^_ fim
]c]fim]ofnol[f_m^_=lhif^Pish\__8_hOi]cifia|[)f[n_il|[^_f[gipcfc^[^
mi]c[f8_h=hnlijifia|[)f[n_il|[^_f[_pifo]c~hbog[h[8_h A]ihig|[)f[
n_il|[^_f[afi\[fct[]c~hi]ihm_hmi^_S[mbchanih8_hA^o][]c~h)f[n_iÜ
l|[^_f[j_^[aia|[]ihmnlo]ncpcmn[)f[n_il|[^_f[j_^[aia|[]ih]_jno[f)f[
n_il|[ ^_ f[ j_^[aia|[ ]l|nc][) f[n_il|[ ^_f[m jif|nc][m_^o][ncp[m)_n]+8_h
@_l_]bi) f[ n_il|[ ^_f ^_l_]bi j_h[f) ^_f ^_l_]bi ]cpcf)_h Ah`_lg_l|[) fim

)/,

 








 ? (¢ 8 L G 8 J & < ( D < A¡8 & < ( E F M F 8 &8 (M @C C 8 > £ D < P

gi^_fimig_n[j[l[^cag[m_h_h`_lg_l|[)_hI_^c]ch[)fimj[l[^cag[m_h
]c_h]c[mg{^c][m+

H[ l_^[]]c~h ^__mn_ mo\cn_g ^_\_m_loh[ jo_mn[ [f ^|[ ^_f _mn[^i^_ f[
]o_mnc~h i _mn[^i ^_f [ln_) oh[ p_l^[^_l[ ]ihmnlo]]c~h ^_f ]ihi]cgc_hÜ
ni]c_hn|`c]i+ Jim_nl[n[ ^_jl_m_hn[lf[mn_il|[m_h`ilg[ h_onl[f mchi ^_
_hlcko_]_lf[m) l_]ihmnloclf[m i ]lcnc][lf[m ]ih `oh^[g_hni+ =m| gcmgi m_
l_]igc_h^[ ]cn[l[f [onil i [onil_m) f[ `o_hn_ ^ih^_ m_ jo_^_ _h]ihnl[l
f[mç^_[mjl_m_hn[^[m+Amn[m]cn[mhi^_\_hm_l_rn_hm[msjl_`_l_hn_g_hn_
^_\_hm_lj[l[`l[m_[^[m_hp_t^_ko_m_[hn_rno[f_m)m[fpiko_m_[h cgÜ
jl_m]ch^c\f_m+?o[h^i f[]cn[n_rno[f mi\l_j[m[ fim]ch]i l_hafih_m_m h_Ü
]_m[lcijl_m_hn[lf[m[j[ln_)s_hnl_]igcff[m+ Apcn[ljil]o_mncih_m^_{nc][
nl[hm]lc\cln_rnim^_[onil_mhi]cn[^im+

?  @_`chc]c~h ]^ m{kfbghl [zlb\hl) Hf[g[^i n[g\c{h g[l]i ]ih]_jno[f i

afim[lcijilinlim)]ihmcmn__h^_`chclfimn{lgchim\zmc]imoncfct[^im_h_f
jf[hn_[gc_hni^_f jli\f_g[)i\d_ncpim_bcj~n_mcm)^_f jlis_]ni^_ chp_mÜ
nca[]c~h)_pcn[h^i l_j_nclf[ ^_`chc]c~h^_n{lgchimko_b[h mc^inl[n[^im
^_hnli^_f[m\[m_mn_~lc][m_r[gch[^[m+O_l_]igc_h^[ko_f[m^_`chc]ciÜ
h_mhim_[h_rn_hm[msm_]cn_hf[m`o_hn_m^_f[m]o[f_mf[mb[h_rnl[|^i+

Ah _f _h`iko_]o[fcn[ncpi[c g[l]in_~lc]ismom]igjih_hn_m fi^_higcÜ

h[h l_pcmc~h ^_ f[ fcn_l[nol[ i chp_mnca[]c~h \c\fcialz`c][m) ko_mo_h[ gzm
]igjl_hmc\f_ko_g[l]in_~lc]i+ O_aÄhI[l|[?_]cfc[@_Oiot[%/--67.2/&7
HWf h_c [ hW  jWh[W Z[b_dl[ij_]WZeh) kdW l[pZ [\_d _Z e ik e X`[je  %fheXb[c W&) [i
fheY[Z[hWkdWW c f b_W _dl[ij_]WY_wd X _X b_e ]hs\_YW )YWfWpZ[W Y bW hW ho f [ hc _j_h
e hZ [ d W ho Yec fh[dZ[hc [ `e huW h[ W b_Z W Z [cfuh_YW +

0)-) åK O w ?M F; BCJóN?MCM > ? CHP?MNCA;=CóH:

=ohko_ _h f[ chp_mnca[]c~h ]o[fcn[ncp[) hi m_ _mncf[ `ilgof[l bcj~n_mcm ]c_hÜ
n|`c][m) jilmo gcmg[ h[nol[f_t[) ko_ hi \om][ jli\[l bcj~n_mcm) hc n[gji]i
jl_n_h^_ i`l_]_l_rjfc][]cih_m)]igis[ fipcgimmojl[) jilko_moi\d_ncpi
_mgzm \c_h f[ chn_ljl_n[]c~h ^_ fim b_]bimi_p_hnimko_m__mno^c[h)_h f[
chp_mnca[]c~h]o[hncn[ncp[mcg_l_]_oh[]ihmc^_l[]c~hgoscgjiln[hn_+

0)-),) Ikb`^g r ]^_bgb\b~g

H[j[f[\l[bcj~n_mcmjlipc_h_^_falc_ai^ofej^[i_i)h`_deh]Ae_Y8) ko_]igjl_hÜ
^_^im l[|]_m7 ^ofe) ]c e  :^_\[disj^[i_ih][e_Y) :jimc]c~h)ko_fcn_l[fg_hn_

)/-