:SLV\ZDQLH￿]QDNyZ

/LWHU\￿PR$QD￿ZSLV\ZDü￿￿QD￿SU]\NáDG￿￿SRGF]DV￿

GRGDZDQLD￿QD]ZLVN￿GR￿VSLVX￿WHOHIRQyZ￿￿ZSLV\ZDQLD￿

ZLDGRPR3FL￿WHNVWRZ\FK￿￿606￿￿OXE￿ZSURZDG]DQLD￿

DGUHVyZ￿:$3￿

-2]\N

3U]HG￿UR]SRF](FLHP￿ZSLV\ZDQLD￿OLWHU￿QDOH$\￿Z\EUDü￿ M(]\N￿￿NWyU\￿PD￿E\ü￿X$\ZDQ\￿SRGF]DV￿ZSLV\ZDQLD￿

$E\￿Z\EUDü￿M￿]\N￿

￿￿3U]HMG4￿NROHMQR￿GR￿RSFML￿￿8VWDZLHQLD￿￿<(6￿￿￿-￿]\N￿ ￿<(6￿￿￿:SLV￿￿<(6￿￿

￿￿3U]HZL7￿GR￿SR]\FML￿RGSRZLDGDM￿FHM￿M(]\NRZL￿￿NWyUHJR￿ FKFHV]￿X$\ZDü￿SRGF]DV￿ZSURZDG]DQLD￿OLWHU￿￿D￿

QDVW(SQLH￿QDFL3QLM￿NODZLV]￿￿

3RZWyU]￿F]\QQR3ü ￿￿￿MH3OL￿FKFHV]￿X$\ZDü￿LQQHJR￿ M(]\ND￿

￿￿1DFL3QLM￿NODZLV]￿<(6￿￿DE\￿RSX3FLü￿ELH$￿FH￿PHQX￿

3RGF]DV￿ZSLV\ZDQLD￿PR$QD￿SU]Há￿F]\ü￿VL(￿QD￿MHGHQ￿ ] Z\EUDQ\FK￿M(]\NyZ￿ZSURZDG]DQLD￿￿QDFLVNDM￿F￿

L SU]\WU]\PXM￿F￿NODZLV]￿￿￿D QDVW(SQLH￿Z\ELHUDM￿F￿ SR]\FM(￿-￿]\N￿ZSLV￿

￿￿:SLV\ZDQLH￿]QDNyZ

:SURZDG]DQLH￿WHNVWX￿Z WU\ELH￿ZLHORNURWQHJR￿ QDFLVNDQLD￿NODZLV]\ 3RGF]DV￿]DSLV\ZDQLD￿QD]ZLVN￿Z VSLVLH￿WHOHIRQyZ￿OXE￿ ZSLV\ZDQLD￿DGUHVyZ￿:$3￿OLWHU\￿ZSURZDG]DQH￿V￿￿ SU]\￿X$\FLX￿WU\EX￿ZSURZDG]DQLD￿WHNVWX￿SU]H]￿ZLHOR￿ NURWQH￿QDFLVNDQLH￿NODZLV]\￿￿.D$G\￿NODZLV]￿QDOH$\￿ QDFLVQ￿ü￿RNUH3ORQ￿￿OLF]E(￿UD]\￿￿DE\￿ZSURZDG]Lü￿ RGSRZLHGQL￿￿OLWHU(￿

:￿SRQL$V]\P￿SU]\NáDG]LH￿SU]HGVWDZLRQR￿UR]￿ SRF](FLH￿ZSLV\ZDQLD￿QD]ZLVND￿Z VSLVLH￿WHOHIRQyZ￿

$E\￿ZSLV\ZDü￿OLWHU\￿￿NRU]\VWDM￿F￿] WU\EX￿

ZSURZDG]DQLD￿WHNVWX￿SU]H]￿ZLHORNURWQH￿ QDFLVNDQLH￿NODZLV]\￿

￿￿3U]HMG4￿NROHMQR￿GR￿RSFML￿￿6SLV￿WHOHIRQyZ￿￿<(6￿￿￿'RGDM￿ NRQWDNW￿￿<(6￿￿￿1DFL3QLM￿SRQRZQLH￿NODZLV]￿<(6￿

￿￿1DFLVNDM￿RGSRZLHGQL￿NODZLV]￿￿±￿￿￿￿

OXE￿￿￿D$￿QD￿Z\3ZLHWODF]X￿SRMDZL￿VL(￿RGSRZLHGQL￿ ]QDN￿￿1DVW(SXM￿FD￿WDEHOD￿]DZLHUD￿]QDNL￿DOIDEHWX￿ áDFL7VNLHJR￿L RGSRZLDGDM￿FH￿LP￿NODZLV]H￿

1DFLVNDM￿ $E\￿X]\VNDü￿]QDN« NODZLV]«

6SDFMD￿￿￿"￿￿￿Ã￿￿￿￿￿￿￿￿￿¶￿￿￿ ￿!￿￿￿￿￿B￿￿ $￿%￿&￿c￿b￿•￿j￿d￿￿￿Γ