E.ON World_04_2008_uk

Transkript

E.ON World_04_2008_uk
>hhjZ%)#'%%-
:#DCLdgaY
I]ZcZlheVeZgh[dgdjgZbeadnZZh
LdgaY
Egdbdi^c\ZmZXji^kZY^kZgh^in
EV\Z*
DXXjeVi^dcVahV[Zin#LZÉkZ]VY
&%ldg`eaVXZ[ViVa^i^Zh^c_jhiV[Zl
bdci]h#L]VicZZYhidX]Vc\Z4
IZX]cdad\n
EV\Z-
;dhh^a[jZahl^aaWZ^cdjgZcZg\n
b^m[dgYZXVYZhidXdbZ#7jil]Vi
YdlZYdl^i]i]ZXVgWdcY^dm^YZ4
Egd[^aZh
]iie/$$^cigVcZi#Zdc#Xdb
<gZZca^\]i
[dgldbZc
:#DClVcihid]VkZbdgZldbZcbVcV\Zgh#
DjgXdbeVcnd[[ZghegVXi^XVahjeedgii]gdj\]
egd[Zhh^dcVaYZkZadebZciegd\gVbbZhVcY
[aZm^WaZldg`VggVc\ZbZcih#7ji^iÉh\d^c\VhiZe
[jgi]ZgWn[dhiZg^c\X]Vc\ZhiddjgXdgedgViZ
XjaijgZid^cXgZVhZdeedgijc^i^Zh[dgldbZcid
g^hZidi]Zide#
338dci^cjZYdceV\Z'
EV\Z&%
>cX^YZci8g^h^hBVcV\ZbZci/L]Vi
^hi]ZcZlYZeVgibZciYd^c\id]Zae
jhbVcV\ZÄVcYegZkZciÄXg^hZh4
;gdbi]ZZY^idgh
HeZX^Va
EV\Z&'
:#DC:cZg\nIgVY^c\d[[idVhigdc\
hiVgi/L]VigdaZYdZhi]ZigVY^c\
Wjh^cZhheaVn^c:#DCÉhhigViZ\n4
'%%-lVhVcdi]ZgZkZci[janZVg#L^i]i]Zh^\"
c^[^XVci ZmeVch^dc d[ djg Wjh^cZhh ^c :jgdeZ!
dcZd[djgideeg^dg^i^Zh^hidgVe^YanVcYhjX"
XZhh[jaan ^ciZ\gViZ djg cZl jc^ih ^c Gjhh^V!
HeV^c! >iVan! VcY ;gVcXZ# >c iZgbh d[ Wjh^cZhh
egdXZhhZhVcYXdgedgViZXjaijgZ!^iÉh^bedgiVci
id\Zii]^c\hg^\]i[gdbi]ZkZgnWZ\^cc^c\#
Djg cZl VcY djg daY bVg`Zih ]VkZ dcZ
i]^c\ ^c Xdbbdc/ i]ZnÉgZ ]dian XdciZhiZY# Id
ZchjgZi]VilZgZbV^cVii]Z[dgZ[gdcid[djg
^cYjhign! lZÉkZ aVjcX]ZY egd_ZXih a^`Z <AD7:
VcY EZg[dgb"id"L^c# I]Z Zck^gdcbZci lZ de"
ZgViZ^c^h^cXgZVh^c\anY^[[^Xjai!Wdi][dg:#DC
VcY^ihZbeadnZZh#HdbZd[djgeaVchidWj^aY
cZledlZgeaVcih[VXZhi^[[deedh^i^dc!l]^aZ
djgXdbeVcnÉhejWa^X^bV\Z]Vhhj[[ZgZY[gdb
i]Z g^hZ ^c \adWVa ZcZg\n eg^XZh# 6ai]dj\] ^c
i]^h Zck^gdcbZci ^i ^hcÉi ValVnh ZVhn id WZ
egdjYidldg`[dg:#DC!djgZbeadnZZhgZbV^c
YZY^XViZY VcY bdi^kViZY# I]ViÉh dcZ d[ i]Z
gZVhdchl]ndjgedh^i^dc^hjcbViX]ZYWnVcn
di]Zg ZcZg\n XdbeVcn# 6cY djg gZXZci hjX"
XZhhZh]VkZbVYZi]^hedh^i^dcZkZchigdc\Zg#
>cDXidWZg![dgZmVbeaZ!lZVXfj^gZYVhiV`Z^c
Njh]cd Gjhh`dnZ! dcZ d[ i]Z ldgaYÉh aVg\Zhi
cVijgVa\Vh[^ZaYh#
LZÉY a^`Z id i]Vc` ndj [dg ndjg Z[[dgih ^c
'%%- VcY l^h] ndj Vaa i]Z WZhi ^c '%%.# L^i]
ndjghjeedgi!lZÉaaXdci^cjZidbZZii]ZX]Va"
aZc\ZhV]ZVY#
BV`^c\;g^ZcYh
Hi^aai^bZidVeean
BV`^c\;g^ZcYh!i]Z^ciZgcVi^dcVa
ZmX]Vc\Zegd\gVbbZ[dgi]ZX]^aYgZcd[
:#DCZbeadnZZh!a^kZYjeid^ihcVbZi]^h
eVhihjbbZg#6gdjcY',%ndjc\eZdeaZ
l]dheZcieVgid[i]Z^ghX]dda]da^YVn
l^i]:#DC[Vb^a^Zh^c&%Xdjcig^Zh#I]Z
[ZZYWVX`[gdbZkZgndcZ^ckdakZYÄi]Z
igVkZaaZghVcYi]Z^g]dhi[Vb^a^ZhÄlVh
kZgnZci]jh^Vhi^X#
>[ndjÉYa^`ZidhZgkZVhV]dhi[Vb^ancZmi
hjbbZg!dg^[dcZd[ndjgX]^aYgZcldjaY
a^`ZideVgi^X^eViZ^ci]Zegd\gVbbZ!^iÉh
cdiiddaViZ#I]ZVeea^XVi^dcYZVYa^cZ^h
&+?VcjVgn#I]ZZVh^ZhilVnidVeean^h
dca^cZViHZgk^XZh$=jbVcGZhdjgXZh$
Eda^X^ZhVcYEgd\gVbh$BV`^c\;g^ZcYh#
:#DCLdgaY%)#'%%-
%'I^iaZ
>cbVcnaVg\ZXdbeVc^Zhi]Zh]VgZd[ldbZc
^cideedh^i^dch^hgVi]Zgadl#:#DC]Vhcdl
hl^iX]ZYi]Z<gdjeÈhigV[[^Xa^\]ihid\gZZc[dg
[ZbVaZbVcV\Zgh#
Djg<gdje^hWZVi^c\cZligVX`h
:#DCcZZYhhigdc\ldbZc
:kZgn&%i]bVcV\ZbZciedh^i^dcVi:#DC^hXjggZcian]ZaYWnVldbVc#I]Z^gcjbWZg^hidWZViaZVhiYdjWaZY
^ci]ZbZY^jb"iZgbidegdbdiZVcYiVe^cidY^kZgh^in^ci]Z<gdje#>cVcZ[[dgiidZchjgZi]Vii]^hWZXdbZhVgZVa^in
i]Z\gdje]VhaVjcX]ZYVegd\gVbbZidhjeedgildbZc^ci]Z^gXVgZZgh#
BdgZldbZc\Zi]^\]hX]ddaY^eadbVhi]Vc
bZc!VcYi]Zn\ZiWZiiZg\gVYZh#BdgZXdb"
eaZiZ i]Z^g jc^kZgh^in ZYjXVi^dc! VcY i]Zn
VX]^ZkZ^i^cVh]dgiZgi^bZ#LdbZcVgZlZaa
Zfj^eeZY [dg XVgZZgh ^c XdbeVc^Zh Ä VcY
bVcnhZ^oZi]Zdeedgijc^in#IdhiVgil^i]Vi
aZVhi#GZhZVgX]]Vhh]dlci]Vii]ZY^hig^Wj"
i^dc d[ ldbZc jcYZg (% ^c bVcV\ZbZci
edh^i^dch ^h Vabdhi ZfjVa id i]Vi d[ i]Z^g
bVaZeZZghd[i]ZhVbZV\Z#6[iZghiVgi^c\
[Vb^a^Zh!i]^hh]VgZ[VaahXdch^YZgVWanidi]Z
V\Z d[ )%# 6XXdgY^c\ id hijY^Zh Wn i]Z :J
8dbb^hh^dc!ldbZc^chZc^dgbVcV\ZbZci
^c:jgdeZVXXdjci[dgbZgZan&%eZgXZcid[
VaaZmZXji^kZedh^i^dch#I]Z[^\jgZ^hh^\c^[^"
XVcianadlZgViWdVgYVcY8:DaZkZa#
:#DC^hcdZmXZei^dc#:kZc^['-eZgXZcid[
Vaa :#DC ZbeadnZZh VgZ [ZbVaZ! i]Z <gdje
]Vhdcan[^aaZY&&#)eZgXZcid[^ihhZc^dgbVc"
V\ZbZci edh^i^dch l^i] [ZbVaZ bVcV\Zgh#
Ha^\]ian VWdkZ i]Z :J VkZgV\Z! Vi aZVhi
I]ViÉhcdlidX]Vc\Z#
:#DC eaVch id YdjWaZ i]Z cjbWZg d[ [Z"
bVaZ ZmZXji^kZh ^c i]Z bZY^jb"iZgb# 7n
'%&%!'*eZgXZcid[hZc^dgbVcV\ZbZciedh^"
i^dch WZ^c\ gZ"hiV[[ZY VgZ id WZ [^aaZY l^i]
ldbZc#9Zhe^iZi]ZhZXdcXgZiZ[^\jgZh!dcZ
i]^c\^h^bedgiVciid8]^Z[=GD[[^XZg8]g^h"
ide] 9~coZg"KVcdii^/ ÆLZ lVci id VX]^ZkZ
i]ZhiViZY[^\jgZhWnX]Vc\^c\b^cYhZih!Wn
X]Vc\^c\l]ViÉh\d^c\dc^ceZdeaZÉh]ZVYh
VcY cdi Wn ^chiVaa^c\ fjdiVh# I]Z fjVa^[^XV"
i^dch d[ ZVX] ^cY^k^YjVa ]VkZ id Xdjci! cdi
i]Z^g\ZcYZg#Ç
I]^h ^h i]Z eg^cX^eaZ i]Z 9^kZgh^in ^c^i^V"
i^kZVi:#DC^hYZY^XViZYid#6i:#DClZjc"
YZghiVcYi]ZiZgbY^kZgh^inidbZVcVXdged"
gViZ XjaijgZ! l]^X] cdi dcan eVhh^kZan idaZg"
ViZh^cY^k^YjVaY^[[ZgZcXZh!WjiVXijVaanegd"
VXi^kZan egdbdiZh Y^[[ZgZcXZh VcY kVajZh
i]Zb Vh V edh^i^kZ VhhZi# ÆB^mZY egd_ZXi
iZVbhVgZh^beanbdgZXgZVi^kZVcYegdYjX"
i^kZ!ÇHZc^dgK^XZEgZh^YZci=G6cYgZVh<da"
aVchjbbVg^hZhi]ZVYkVciV\Zhd[Y^kZgh^in
[dg\adWVaXdbeVc^Zh#
8]Vc\Z^hVagZVYn]VeeZc^c\
Egdbdi^c\ ]^\]an fjVa^[^ZY ldbZc ^h cdi V
fjZhi^dc d[ eda^i^XVa XdggZXicZhh [dg :#DC!
Wji ]Vh V higViZ\^X Y^bZch^dc# I]Z <gdje
XVccdi^\cdgZi]Z]VgY[VXihd[YZbd\gVe]^X
X]Vc\Z!i]ZZ[[ZXihd[l]^X]VgZ\d^c\id^c"
XgZVh^c\an ^beVXi :jgdeZ ^c i]Z cZmi i]gZZ
id&%nZVgh#Hddci]ZÈWVWnWddb\ZcZgVi^dcÉ
[gdbi]ZhZkZci^ZhVcYZ^\]i^Zh^h\d^c\id
WZZciZg^c\i]Z_dWbVg`Zi#
I]Z^chi^ijiZ[dgZbeadnbZciVcY_dWgZ"
hZVgX] >67 ^h ZmeZXi^c\ V Xdch^YZgVWaZ YZ"
Xa^cZ ^c jc^kZgh^in \gVYjViZh [gdb '%&* dc"
lVgYh# EaVci Zc\^cZZg^c\! >I VcY ZaZXig^XVa
Zc\^cZZg^c\ \gVYjViZh VgZ ^c hjX] edejaVg
YZbVcY VgdjcY i]Z ldgaY idYVn! i]Vi i]Zn
]VgYan]VkZidldggnVWdji_dWZcignZkZc^c
IVc^VKdad:#DC>iVa^V
IVc^VKdad`cdlhl]Vi^i[ZZaha^`ZidWZVldbVc
Vbdc\VbV_dg^ind[bZc#DWk^djh!l]Zcndj`cdl
i]Vih]ZhijY^ZYi]ZdgZi^XVae]nh^Xh#H]Zl^aacZkZg
[dg\Zi]Zg^ciZgk^ZlÅWZXVjhZi]ZYZeVgibZci]ZVY
^ck^iZY^cV[ZbVaZXdaaZV\jZidegdkZi]VindjXVc
hjgk^kZ^ci]ZZcZg\nhZXidgVhVldbVc#ÆIVc^VKd"
adcZkZgi]dj\]i^ilVhVY^hVYkVciV\ZidWZdcZd[
[Zl[ZbVaZbVcV\Zgh#ÅI]Z\gZViVYkVciV\Z/EZd"
eaZgZbZbWZgndjgcVbZ#ÆIdYVnKdad^hdcZd[[djg
jc^i]ZVYhVi:#DC>iVa^V!gZhedch^WaZ[dgXdbbjc^"
XVi^dchVcYgZ\jaVi^dcbVcV\ZbZci#
GVbdcVEZg\Za:#DC<Vo9^hig^Wji^Z
Å6alVnhh]dlidiVaXdbb^ibZciVcYVXXZeii]ZXdchZfjZcXZhd[
ndjgYZX^h^dch#ÆI]^h^hdcZe^ZXZd[VYk^XZi]ViGVbdcVEZg\Za!
idYVnK^XZ<ZcZgVa9^gZXidgVi:#DC9^hig^Wji^Z!]Vh]ZZYZY
i]gdj\]dji]ZgXVgZZg#6cY^i]VhhZgkZY]ZglZaa#6[iZgeVhh^c\
]ZgaVlZmVbhh]Zidd`dkZgi]ZaZ\VaYZeVgibZcid[VGdbVc^"
Vc[Zgi^a^hZgXdbeVcn#H]Zi]ZcVgg^kZYVi:#DC<VoGdbVc^V^c
'%%+l]ZgZh]ZVahd]ZVYZYi]ZaZ\VaYZeVgibZci#7ni]ZlVn!
h]ZYdZhcÈiWZa^ZkZi]ViVldbZcÈhcZildg`XVc]VkZVgZVa^c"
[ajZcXZdcVXVgZZg#6cYl]ViYdZhh]ZZmeZXi[gdb]ZgZb"
eadnZg[^ghiVcY[dgZbdhi4ÅGZXd\c^i^dc[dgXdcig^Wji^dcbVYZ
VcYXdbb^ibZcih]dlc#Æ
ZXdcdb^XVaan X]VaaZc\^c\ i^bZh# Æ>c i]Z [j"
ijgZ! \ddY eZdeaZ VgZ \d^c\ id WZ XdjgiZY
ZkZcbdgZi]VcidYVn!ÇZmeZXihBdc^XVLZgi"
]Z^b! =G BVg`Zi^c\ 8dbbjc^XVi^dc#
ÆI]ViÉhl]nlZh^beanXVccdiV[[dgYidadhZ
i]Zb#Ç I]Z h^ijVi^dc ^h dWk^djh/ I]Z [ZlZg
Zc\^cZZg^c\ dg Wjh^cZhh VYb^c^higVi^dc
\gVYjViZhZciZgi]ZZbeadnbZcibVg`Zi^c
i]Z[jijgZ!i]ZbdgZ^bedgiVci^i^h\d^c\id
WZ[dg:#DCid^cXgZVh^c\aniVe^cid^ihZci^gZ
iVaZci edda Ä VcY i]Vi heZX^[^XVaan ^cXajYZh
[ZbVaZXVcY^YViZh#
:#DC]VhhZijei]Z>c^i^Vi^kZIVaZciBVc"
V\ZbZciLdbZcVheVgid[^ihEZdeaZHigVi"
Z\n^cVW^Yid^cXgZVhZi]Zh]VgZd[ldbZc
^cbVcV\ZbZciedh^i^dch#:kZc^[i]Zi^iaZ^h
hdbZl]Vi b^haZVY^c\# I]Z dW_ZXi^kZ ^h cdi
:#DCLdgaY%)#'%%-
I^iaZ%(
IVaZci
IVaZcihXdjihVgZcdidcandjiVcYVWdji^c
h]dlWjh^cZhhWjiVahd^cdjgWjh^cZhh#6cY
i]ZnYdcÈiZkZc]VkZidadd`idd[Vg#I]ZgZVgZ
cjbZgdjh]^\]anfjVa^[^ZYldbZci]gdj\]djii]Z<gdje#
&&#)eZgXZcid[i]Z\gdjeÈhhZc^dgbVc"
V\ZbZciVgZ[ZbVaZ#>cY^k^YjVabVg`Zi
jc^ihÃZheZX^VaanJH"B^YlZhiVcYCdgY^X
ÃZmXZZYi]^hVkZgV\Z#
hdaZanid\ZildbZc^cidbVcV\ZbZciedh^"
i^dch VcY id iVe ^cid i]Z^g ediZci^Va Vh Z["
[ZXi^kZanVhedhh^WaZ#I]Z^c^i^Vi^kZVahdiV`Zh
^cid VXXdjci i]Vi hdX^Zin ]Vh X]Vc\ZY ^ih
k^Zldci]ZgdaZhd[bZcVcYldbZc#Ldb"
ZclVciidegdkZi]ZbhZakZhegd[Zhh^dcVaan
VcYbZclVciidheZcYbdgZi^bZl^i][Vb"
^a^Zh#Æ7nVY_jhi^c\idi]ZhZX]Vc\Zh!lZVgZ
^cXgZVh^c\ Y^kZgh^in ^c djg XdbeVcn VcY Vi
i]Z hVbZ i^bZ Wddhi^c\ djg VeeZVa Vh Vc
ZbeadnZg!ÇhigZhhZh6cYgZVh<daaVc#
lZaa Vh <gdjel^YZ bZcidg^c\ egd\gVbbZ
l]^X]^hXjggZcianWZ^c\egZeVgZY#Æ>c=GYZ"
kZadebZcii]^hegd\gVbbZ^hjcYZghiddYid
WZ Vc ViigVXi^kZ VcY hjXXZhh[ja ^chigjbZci
idd[[ZgXdbeVcnhjeedgiVcYV^bhid[dhiZg
i]ZZmX]Vc\Zd[ZmeZg^ZcXZ!Wj^aYZmeZgi^hZ!
VcYYg^kZeZghdcVaYZkZadebZciVcYZYjXV"
i^dc!Ç ZmeaV^ch Jag^X] He^Z! =G 9^gZXidg Vi
:#DCGj]g\Vh#
CZi]ZgaVcYh ^c '%%,# >c VYY^i^dc id VXi^kZ
cZildg`^c\ Ä V [VXidg gZ\jaVgan jcYZgZhi^"
bViZY ^c XVgZZg eaVcc^c\ Ä i]Z cdl bdgZ
i]Vc&%%[ZbVaZ:#DCZbeadnZZhlVciid\Zi
ldbZc ^ciZgZhiZY ^c iZX]c^XVa egd[Zhh^dch#
6h ^c bdhi :jgdeZVc XdbeVc^Zh! ldbZc Vi
:#DC bV^can ldg` ^c VYb^c^higVi^dc i]ZhZ
YVnh VWdji +% eZgXZci ^c <ZgbVcn! l]^aZ
i]Zn VgZ ]VgYZg id [^cY ^c iZX]c^XVa egd[Zh"
h^dchh^meZgXZci#:#DClVcihidZcXdjgV\Z
ldbZc id [daadl i]Z ZmVbeaZ d[ >c\: VcY
hZijei]Z^gdlccZildg`h#
BVnWZ ^iÉh dcan V bViiZg d[ i^bZ WZ[dgZ
i]Zh]VgZd[ldbZc^cbVaZYdb^cViZYVgZ"
Vh d[ i]Z \gdje ^cXgZVhZh Wn ^ihZa[4 >i bVn
dcaniV`ZV[ZlnZVghjci^aldbZcgZVX]i]Z
ide! l]d VgZ XjggZcian Vi adlZg dg b^YYaZ
aZkZah^ci]Z]^ZgVgX]n47jibVnWZ^igZfj^gZh
VXi^kZ hjeedgi id edh^i^dc ]^\]an fjVa^[^ZY
ldbZc l]ZgZ i]Zn WZadc\ WVhZY dc i]Z^g
ediZci^Va/DcVeVgl^i]bZc!ViVaabVcV\Z"
bZciaZkZah#
I]Z \ZcZgVa XdcY^i^dch VgZ YZ[^c^iZan ^c
eaVXZ#IdYVn*)eZgXZcid[Vaajc^kZgh^in\gVYj"
ViZh^cD:89cVi^dchVgZldbZc#:c\^cZZg^c\
^h^c]^\]YZbVcYdci]Z_dWbVg`Zi!Wjildb"
ZcbV`Zjedcan''eZgXZcid[cZl\gVYjViZh#
^ch^\]i ^cid XdbeVcn higjXijgZh! cZildg`
VcY YZkZade i]Z XdjgV\Z [dg i]Z^g dlc XV"
gZZgVcYiVX`aZ^il^i]YZiZgb^cVi^dc#
>c gZijgc bZcidgh WZcZ[^i [gdb i]Z gZaV"
i^dch]^eWn\Zii^c\[gZh]^che^gVi^dc[dgXjg"
gZciide^XhWnh]Vg^c\cZl^YZVhVcYWn]Vk"
^c\i]ZX]VcXZidgZ[aZXidci]Z^gldg`#I]Z
bZcidg^c\ egd\gVbbZ ^h Vahd YZh^\cZY id
WZVÈa^\]i]djhZegd_ZXiÉ!Æl]^X]^ci^bZ^hid
he^aadkZgiddi]ZgbVcV\ZbZciaZkZah!Ç]^\]"
BjijVaWZcZ[^ih
a^\]ih6c`ZLn\daY[gdb:#DCGj]g\Vh=G#
I]ZbZcidg^c\egd\gVbbZV^bhidl^cdkZg L]^aZ i]Z bZcidg^c\ egd\gVbbZ lVh ^c^i^"
HijYnLdbZc5:cZg\n
ideZmZXji^kZhidVXiVhbZcidghidbZciZZh ViZY Wn XdbeVcn bVcV\ZbZci id egdbdiZ
6h i]Vi ]VhcÉi ldg`ZY ^c i]Z eVhi l]Zc ^i l]d ^c i]Z [^ghi hiZe l^aa WZ [ZbVaZ HZc^dg ideZmZXji^kZh!:#DCVahdhjeedgihVcjbWZg
XdbZh id ldbZc! :#DC Xdbb^hh^dcZY i]Z BVcV\Zgh ^c i]Z \gdje# >cY^k^YjVa bZcidg$ d[egd_ZXihl]^X]XVbZid\Zi]ZgVhVgZhjai
hijYn LdbZc5:cZg\n# 7ZilZZc 6eg^a VcY bZciZZeV^ghl^aabZZigZ\jaVgandkZgVeZ" d[ZbeadnZZ^c^i^Vi^kZ#
CdkZbWZg '%%, gZhZVgX]Zgh [gdb dg\Vc^hV" g^dYd[dcZVcYV]Va[idildnZVghVcYVgZ
i^dcVa XdchjaiVcih Æ7a^X`lZX]hZaÇ hjgkZnZY bViX]ZY Wn =G YZeVgibZcih#L]^aZ i]Z YZ" <gdl^c\[gdbhigdc\gddih
&*% ZmZXji^kZh Vi :#DC Gj]g\Vh! :#DC :cZg" iV^ahhi^aa]VkZidWZXVgkZYdji!i]Z\ZcZgVa I]ZWZhi`cdlcd[i]ZhZ^c^i^Vi^kZh^hegdW"
\^ZVcY8dgedgViZ8ZciZg#>c'%%-i]^hhjgkZn Y^gZXi^dcVcYi]ZdW_ZXi^kZd[i]ZbZcidg^c\ VWan i]Z ldbZcÉh cZildg` >c\:! l]^X] lVh
lVhVahdXdcYjXiZYVi:#DCCdgY^X!VcYhddc egd\gVbbZ VgZ VagZVYn XaZVg/ ^c eV^gh l^i] aVjcX]ZYWn[ZbVaZZc\^cZZgh[gdb<ZgbV"
i]Z J@ ^h Vahd id WZ ^cXajYZY#I]Z hijYn [d" i]Z^g bZcidgh! bZciZZh VgZ id \Zi V WZiiZg cn! i]Z J#@#! i]Z 8oZX] GZejWa^X VcY i]Z
8dci^cjZYdceV\Z)33
XjhZYdcgZhZVgX]^c\i]Z[VXidghl]^X]^b"
eVXi i]Z XVgZZg YZkZadebZci d[ ldbZc ^c
XdbeVc^Zh#I]ZdW_ZXi^kZ^hidYZg^kZbZVh"
jgZhVcY^chigjbZcihl]^X]l^aa^begdkZYZ"
kZadebZci deedgijc^i^Zh [dg ldbZc VcY
l]^X]Vii]ZhVbZi^bZ[^i^cl^i]XdbeVcn
XjaijgZ#7jii]^h^hcdihdbZ`^cYd[ldbZc
egdbdi^dc egd\gVbbZ! ^iÉh V \ZcYZg"dg^Zci"
ZY =G higViZ\n egd_ZXi l]^X] i]Z <gdje
lVcihidVeeanidWZVWaZidWZiiZghjeedgi
i]ZhigZc\i]hd[ZVX]^cY^k^YjVa#
DjiYViZYgdaZXa^X]‚h
>c^i^VagZhjaihd[i]ZhijYnh]dli]Vil]Zc^i
XdbZhid\ZcYZgVcYXVgZZgh!djiYViZYgdaZ
Xa^X]‚h^beVXii]ZXVgZZgVcYXVgZZgdeedg"
ijc^i^Zh d[ [ZbVaZ ZbeadnZZh# 8VgZZg! hjX"
XZhh VcY hiVijh VgZ iV`Zc Vh WZ^c\ jc[Zb^"
c^cZ#I]Z[ZbVaZgdaZÄZheZX^Vaan^c<ZgbVcn
:aaZc;ZaY]d[[:#DCGj]g\Vh
@^ghiZc;jhi:#DC=VchZ
Ä^hXadhZani^ZYidi]ZgdaZd[Vbdi]Zg#I]ZgZ
:aaZc;ZaY]d[[ZmeZXih]ZgZbeadnZgidYddcZh^beaZi]^c\/ÅIgZVi
Ldg`^c\^cVbVcÈhldgaYÃ@^ghiZc;jhi]Vh[^ghi]VcYZmeZg^"
VgZhi^aaegZ_jY^XZhV\V^childbZcl]dlVci
bZcVcYldbZcZfjVaan#ÆH]ZWZa^ZkZhi]Z[dXjh]VhidWZdcV
ZcXZ#H]ZlVhdcZd[i]gZZ[ZbVaZh[gdb&,%hijYZcihhijYn^c\
idgZXdcX^aZ`^YhVcYXVgZZgh#6c^ciZgZhi^c\
[V^gZkVajVi^dcd[eZg[dgbVcXZVcYd[[Zg^c\ZkZgndcZZfjVadeedg"
ZaZXig^XVaZc\^cZZg^c\Vi;=@^Za#IdYVnh]Z^h]ZVYd[IZX]c^XVa
[VXi]ZgZ^hi]VildbZcVcYbZci]^c`Vadc\
ijc^i^Zh!cdidc\ZcYZg#6cYi]ViÈhZmVXianl]Vih]Z]VhZmeZg^"
HZgk^XZhVi:#DC=VchZ!gZhedch^WaZ[dgbdgZi]Vc+%%Zbeadn"
ZcXZYjeidcdl[gdb]ZgdlchjeZg^dghVcYbZcidghÃÅi]Zn
ZZh#6hhddcVhi]ZnhVl]ZgYgZhhZY^cdkZgVaahdci]ZWj^aY^c\
h^b^aVga^cZh#D[XdjghZi]ZhijYncdidcanVc"
]VkZValVnhWZZcbZc#Æ6heVgid[i]Z:mZXji^kZEddaegd\gVbbZ!
h^iZ!VcnYdjWihi]Zn]VYVWdji]ZglZgZaV^YidgZhiÃh]ZlVh
cdjcXZhgZhjaih!^iVahdbV`ZhgZXdbbZcYV"
;ZaY]d[[!l]d]VhVYdXidgViZ^cWjh^cZhhVYb^c^higVi^dcVcYegd"
_jhidcZd[i]Z\jnh#Å>[ndjlVciidldg`l^i]bZcÆh]ZZm"
i^dch[dgVXi^dc#
k^YZhhjeedgi[dg^cYjhig^VaXjhidbZgh^c:#DCGj]g\VhÈhVaZhY^k^"
eaV^ch!Åndj]VkZideaVnWni]Z^ggjaZh#Æ6[iZg]ZgbViZgc^in
BZVhjgZhYZg^kZY^cXajYZi]Z^cXajh^dcd[
h^dc!Vahd]Vhi]Zdeedgijc^inidVh`VYk^XZ[gdb]ZgXdbeVcn
aZVkZ!]Zg]jhWVcYgZbV^cZYVi]dbZ[dgildnZVghadd`^c\
bZcidg/^c]ZgXVhZ=ZVYd[HVaZh=Zcc^c\9ZiZgh#
V[iZgi]Z^gYVj\]iZg#
\ZcYZg ^hhjZh ^c bVcV\ZbZci igV^c^c\ Vh
:#DCLdgaY%)#'%%-
%)I^iaZ
9^kZgh^in
6XXdgY^c\idVhijYnWn[ZbVaZbVcV\Zg
dg\Vc^hVi^dc8ViVanhi!i]ZgZ^hVXaZVg
XdggZaVi^dcWZilZZc[^cVcX^VaeZg[dgbVcXZ
VcYi]ZWVaVcXZYY^hig^Wji^dcd[bZcVcYldbZc^cVXdbeVcn#
338dci^cjZY[gdbeV\Z(
>ci]ZZfjVaanhdj\]iV[iZg[^ZaYhd[bVi]ZbVi"
^XhVcYXdbejiZghX^ZcXZ!')eZgXZcid[\gVYj"
ViZh VgZ [ZbVaZ# 6cnlVn! i]ZhZ [^\jgZh VgZ V
h^\c^[^XVci^begdkZbZcidci]ZeVhi!ZheZX^Va"
an Vh i]Zn `ZZe ^cXgZVh^c\# 7ji/ ÆLdbZc VgZ
cdi\d^c\idWVhZi]ZYZX^h^dc[dgdcZZbeadn"
ZghdaZandcXVgZZgdeedgijc^i^Zh!Wjil^aaVahd
Xdch^YZg^[i]ZXdbeVcnegdbdiZhldbZcVcY
l]^X][gVbZldg`XdcY^i^dchVgZ^ceaVXZ!ÇZm"
eaV^ch 6cYgZVh <daaVc# ÆI]^h Vahd gZaViZh id
ldg`"a^[Z WVaVcXZ#Ç 8dbeVc^Zh lVci^c\ id Vi"
igVXi bdgZ ldbZc ]VkZ id XgZViZ V XdbegZ"
]Zch^kZd[[Zg!hiViZhBdc^XVLZgi]Z^b#
I]Vi^cXajYZh[aZm^WaZldg`^c\]djghVcY
eaVXZh! i]Z edhh^W^a^in id ldg` eVgi i^bZ dg
[gdb ]dbZ! Vh lZaa Vh egd\gVbh d[[Zg^c\
hjeedgi# >cX^YZciVaan! cdi dcan [dg ldbZc!
Wji Vahd [dg bZc# CZl VcY VaiZgcVi^kZ a^[Z
XdcXZeih VgZ Vahd ^bedgiVci [dg bZc i]ZhZ
YVnh# :#DC Gj]g\Vh ^h V XVhZ ^c ed^ci# I]Z
XdbeVcn ]Vh gZXZ^kZY V cjbWZg d[ VlVgYh
[dg^ihZ[[dgihidegdbdiZldg`a^[ZWVaVcXZ!
gZedgihJag^X]He^Z#
8jaijgZbV`Zhi]ZY^[[ZgZcXZ
I]ZY^[[ZgZcXZhWZilZZc:#DCÉhbVg`Zijc^ih
h]dl_jhi]dl^bedgiVcii]ZVii^ijYZhd[hd"
X^Zi^ZhVgZWZndcYXdbeVcnheZX^[^Xegdbd"
i^dcbZVhjgZh/I]ZgZVgZXdch^YZgVWanbdgZ
[ZbVaZ bVcV\Zgh ^c ;gVcXZ dg HXVcY^cVk^V!
l]ZgZhiViZhgjcVi^\]ian"`c^iYVnXVgZcZi"
ldg`[dgldg`^c\bjbh!dg^ci]ZJH6!l]ZgZ
ldbZcg^h^c\idideedh^i^dch]VhWZZcegd"
bdiZY [dg adc\Zg i]Vc ^c :jgdeZ VcY bdgZ
hnhiZbVi^XVaan#
I]ZgZegZhZciVi^dcd[[ZbVaZbVcV\ZghVi
i]Z8ZcigVa:jgdeZbVg`Zijc^i^hWZadlVkZg"
V\Z Vi -#- eZgXZci! l]^aZ HXVcY^cVk^Vc
:#DCXdbeVc^ZhWZVii]Z\gdjeVkZgV\ZXdc"
h^YZgVWan Vi &,#' eZgXZci# >c i]Z JH6 ZkZgn
C^X`^6`]VkVc:#DCJ@
GZcZVBX8ajgZ:#DCJ#H#
C^X`^6`]VkVcÈhXVgZZgidYViZ]VhWZZcigjangZbVg`VWaZ#;gdb
]ZgZVganWZ\^cc^c\h!ldg`^c\VhV_jc^dghZXgZiVgnVi:VhiB^Y"
aVcYh:aZXig^X^in!h]Z]VhXdbZVadc\lVnidgZVX]]ZgXjggZcied"
h^i^dcVh=ZVYd[>ccdkVi^dcGZaVi^dch]^eBVcV\ZbZciVi:#DC
J@#6c^begZhh^kZVX]^ZkZbZci!ZheZX^VaanXdch^YZg^c\i]ViYjg^c\
i]^heZg^dYh]ZVahdWgdj\]ijeildX]^aYgZc##Å<Zii^c\i]ZWVaVcXZ
WZilZZc_dWVcY[Vb^ang^\]i^h]VgYldg`!^ggZheZXi^kZd[]dl
[aZm^WaZndjgZbeadnZgb^\]iWZ!ÆhVnh6`]VkVc#Å7ji>higdc\an
WZa^ZkZi]ViX]^aYgZcVcYVXVgZZgXVcWZXdbeVi^WaZ#>adkZbn
X]^aYgZcVcY>adkZbn_dWÃVcY>VbXZgiV^ci]Vii]ZhZildbdhi
^bedgiVcie^aaVghd[bna^[ZVahdWZcZ[^i[gdbZVX]di]Zg#Æ
GZcZVBX8ajgZ^hgZhedch^WaZ[dg^beaZbZci^c\:#DCJ#H#ÈhZb"
eadnZZY^kZgh^inhigViZ\n#H]Z]daYhVbVhiZgÈhYZ\gZZ^cWjh^"
cZhhVYb^c^higVi^dcVcYVWVX]ZadgÈhYZ\gZZ^cZYjXVi^dc#Å>
WZa^ZkZi]Vii]ZgZVgZVcjbWZgd[[VXidghÃWjh^cZhhVXjbZc!
i]Zl^aa^c\cZhhidldg`]VgYidbZZi\dVah!ZYjXVi^dc!XVeVW^a"
^in!hZa[Xdc[^YZcXZ!dkZgXdb^c\WVgg^Zgh!VcYi^b^c\ÃVgZXg^i^"
XVaiddXXjeVi^dcVahjXXZhh#>]VkZWZZc^c[ajZcXZYWn^c[dgbVa
gdaZbdYZah!a^`Zbnbdi]Zgl]dgVcVhjXXZhh[jahbVaaWjh^"
cZhh!VcY[dgbVaWjh^cZhhbZcidghWdi]ldbZcVcYbZc
l]degdk^YZYbZl^i]heZX^[^X_dWeZg[dgbVcXZ[ZZYWVX`i]Vi
^h^ckVajVWaZ#Å
[djgi]ZmZXji^kZX]V^gVi:#DC^hdXXje^ZYWn
V ldbVc! '*#* eZgXZci id WZ ZmVXi# BVg`Zi
jc^ihVgZi]ZgZ[dgZVgZ[aZXi^dcd[hdX^VaYZ"
kZadebZcih^ci]Z^ggZheZXi^kZXdjcig^Zh#
9^kZgh^inYZa^kZghWZiiZggZhjaih
L]Zc XdbeVc^Zh VgZ Vh`ZY id ZmeaV^c l]n
i]ZnVXi^kZanhjeedgii]ZXVgZZghd[ldbZc
i]Znine^XVaanhiViZi]ZYZbd\gVe]^X[VXidg#
7jii]ZgZVgZdi]Zg\ddYgZVhdchidegdbdiZ
[ZbVaZbVcV\Zgh#6cjbWZgd[hijY^Zhh]dl
V XdggZaVi^dc WZilZZc Zbeadn^c\ ldbZc
VcY i]Z [^cVcX^Va hjXXZhh d[ V XdbeVcn# 6c
<ZgiV<ZgYZh:#DC:cZg\nIgVY^c\
Å6cZ[[ZXi^kZVcYWgdVYcZildg`Æ^h^bedgiVci[dgZkZgndcZÈhXVgZZg
ÃVhbjX][dgldbZcVh[dgbZc#I]ViÈhl]n<ZgiV<ZgYZh!l]d]Vh
VYdXidgViZ^cV\g^XjaijgZVcY[ddYbVg`Zi^c\!hZijeVldbZcÈh
gdjcYiVWaZY^hXjhh^dcl]^aZh]ZlVhldg`^c\Vi:#DCHVaZhVcY
IgVY^c\^cBjc^X]!l]ZgZXdaaZV\jZh[gdbVaaY^k^h^dchVcY]^ZgVgX]^"
XVaaZkZahbZi#6h9^gZXidgd[7VX`D[[^XZVcY6Yb^c^higVi^dcVi:#DC
:cZg\nIgVY^c\!<ZgiV<ZgYZh^hXjggZciangZhedch^WaZ[dgVgdjcY&%%
ZbeadnZZh#=ZgZmeZg^ZcXZ/Å>cXVgZZgh!bVcV\ZbZcieZg[dgbVcXZ
eaVnhVbjX]bdgZXgjX^VagdaZi]Vc\ZcYZg#Æ
ZmVbeaZ ^h gZhZVgX] XdcYjXiZY Wn 8ViVanhi!
Vc ^ciZgcVi^dcVa cdc"egd[^i dg\Vc^hVi^dc
YZY^XViZYidhjeedgi^c\ldbZc^cbVcV\Z"
bZci# >ih bZbWZgh ^cXajYZ \adWVa eaVnZgh
[gdb6bZg^XVc:megZhhid8dXV"8daVVcYB^"
Xgdhd[iidMZgdm#8ViVanhiXdcYjXiZYVcVanh^h
dc;dgijcZ*%%\gdjehi]Z*%%]^\]ZhigZk"
ZcjZXdbeVc^Zh^ci]ZldgaY!a^hiZYVccjVaan
Wn JH Wjh^cZhh bV\Vo^cZ ;dgWZh VcY lVh
VWaZidegdkZVXaZVgXdggZaVi^dcWZilZZc[^"
cVcX^VaeZg[dgbVcXZVcYVWVaVcXZWZilZZc
bZcVcYldbZc^cXdbeVc^Zh#;jgi]ZgZk^"
YZcXZ i]Vi lZaa bVcV\ZY Y^kZgh^in a^iZgVaan
eVnhd[[#
Jai^bViZan! i]Z dW_ZXi^kZ ^h id XgZViZ V
XdbeVcn XjaijgZ Vi :#DC ^c l]^X] i]Z edh^"
i^dchd[bZcVcYldbZcVgZhdaZanWVhZYdc
h`^aa VcY eZg[dgbVcXZ# BZc WZcZ[^i ZfjVaan
[gdbbVcnbZVhjgZh^cigdYjXZYidegdbdiZ
ldbZc#I]^hVeea^Zhid[aZm^WaZldg`bdYZah!
l]^X]Vahdd[[Zgi]ZhXdeZ[dgVcZljcYZg"
hiVcY^c\ d[ [Vi]ZghÉ gdaZh! dg \gZViZg igVch"
eVgZcXn^cXVgZZgeVi]h#
I]^h\gdjcYWgZV`^c\djiadd`^hhjeedgiZY
Wn6k^kV]L^iiZcWZg\"8dm!i]Z[djcYZgd[i]Z
:jgdeZVc LdbZcÉh CZildg` VcY Xd"Vji]dg
d[ i]Z Wdd` ÆL]n LdbZc BZVc 7jh^cZhhÇ/
8dbeVc^Zh lVci^c\ id WZ V hjXXZhh ^c i]Z
'&hi 8Zcijgn ]VkZ id iVe i]Z ediZci^Va d[
ldbZc!ZmeaV^chi]ZEVg^h"WVhZYVji]dg!l]d
heZci [^kZ nZVgh Vi ;gZcX] Wjh^cZhh hX]dda
XdVX]^c\XVgZZg"b^cYZYldbZc#
H]Z WZa^ZkZh i]Vi XdbeVc^Zh VgZ dc i]Z
lgdc\igVX`^[i]ZnignidYZeadnldbZcVX"
XdgY^c\ id XdckZci^dcVa l^hYdb# ÆIdYVn ^iÉh
VWdjiiZVX]^c\ZbeadnZZhVWdjiY^[[ZgZcXZh
VcYaZVY^c\i]Zdg\Vc^hVi^dc^cVlVnid[dh"
iZgVXjaijgZl]^X]\Zihi]ZWZhidjid[Wdi]
]VakZh d[ i]Z edejaVi^dc!Ç ZmeaV^ch L^iiZc"
WZg\"8dm#
:#DCLdgaY%)#'%%-
LdgaY%*
ÅL]Zc^iXdbZhidi]ZhV[Zind[djg
eZdeaZ!lZYdcÈiXdbegdb^hZ#;dgbZ!
i]ViÈhcdiVhad\Vc#>iÈhVc^ck^daVWaZ
eg^cX^eaZ#Æ:#DCÈh8]^Z[=GD[[^XZg8]g^hide]9~coZg"KVcdii^
Å=VgYidiV`ZÆ
>[dcanZkZgndcZ]VYeV^YbdgZViiZci^dcidl]Vii]ZnlZgZYd^c\#>[dcancddcZ]VYadd`ZYi]Zdi]Zg
lVn#>[dcanZkZgndcZ]VY[daadlZY^chigjXi^dch!iZceZdeaZb^\]ihi^aaWZVa^kZ#
Xd"ldg`Zg!l]dbVnVahdWZV[g^ZcY!hj[[ZghZ"
g^djh^c_jg^ZhdgY^Zdci]Z_dW#7jii]ZgZÉhVc"
di]ZgVheZXiidndjgfjZhi^dc#;dgjhidaZVgc
[gdbVXX^YZcihhdi]VilZXVcVkd^Yi]Zb^c
i]Z [jijgZ! lZ cZZY ZbeadnZZh id iZaa jh Zm"
VXianl]Vi]VeeZcZY!ZkZc^[i]VibZVchVY"
b^ii^c\ i]Vi i]Zn dg i]Z^g XdaaZV\jZh bVYZ
b^hiV`Zh#8djgV\ZVcYdeZccZhhVgZDcZ:#DC
6gZcÈi i]Z ZbeadnZZh i]ZbhZakZh Vi [Vjai ^[ kVajZh# :bWgVX^c\ i]Zb l^aa ]Zae jh egZkZci
i]Zn\Zi^c_jgZY4
[jijgZVXX^YZcih#
LVX]hbji]/I]ViÉhd[iZci]Z[^ghiXdcXajh^dc
lZ XdbZ id# 6[iZg Vaa! lZ igV^c ZbeadnZZh =dl XVc ZbeadnZZh WZ bdi^kViZY id ldg`
i]dgdj\]an! egdk^YZ i]Zb l^i] hV[Zin \ZVg! hV[Zan4
VcYZbe]Vh^hZi]VihV[Zin^hdjgideeg^dg^in# LVX]hbji]/AZibZiZaandjVWdji?Žg\GŽi]Z"
7ji^iÉhgZVaani]Zlgdc\XdcXajh^dc#LZXdc" bZ^Zg d[KZai]Z^b edlZg hiVi^dc! V XdVa"[^gZY
YjXiYZiV^aZY^ckZhi^\Vi^dchd[VaahZg^djhVX" [VX^a^in hdji]lZhi d[ =VcdkZg gjc Wn :#DC
X^YZcih#I]Z ^ckZhi^\Vi^kZ iZVb ^cXajYZh jc" @gV[ilZg`Z#I]ZgZlVhVcVXX^YZciVii]ZeaVci!
W^VhZY ZmeZgih l]d YdcÉi ldg` Vi i]Z jc^i VcY ?Žg\ VcY hZkZgVa di]Zgh lZgZ jcVWaZ id
hVkZ i]Z k^Xi^b# I]Zn lViX]ZY ]^b Y^Z# ?Žg\
l]ZgZVcVXX^YZcidXXjggZY#
LZ ine^XVaan [^cY i]Vi VXX^YZcih ]VkZ hed`Z VWdji i]Z VXX^YZci Vi djg aVhi hV[Zin
bVcn XVjhZh/ ^cVYZfjViZ igV^c^c\! jcXaZVg Xdc[ZgZcXZVcYhV^Yi]Vi^ilVhVcZmeZg^ZcXZ
^chigjXi^dch! ZbeadnZZh jcfjVa^[^ZY id Yd ]ZÉYbV`ZhjgZ]ZcZkZggZeZVih#=^hgZVXi^dc
XZgiV^c `^cYh d[ _dWh# I]Vi hV^Y! V [VXidg ^c ^h ine^XVa# LZÉkZ [djcY i]Vi WZ^c\ ^c Vc VXX^"
kZgnbVcnVXX^YZcih^hi]ViZbeadnZZhY^hgZ" YZci X]Vc\Zh eZdeaZhÉ Vii^ijYZ VWdji hV[Zin#
\VgYdjghV[ZinegdXZYjgZh#6cdi]Zg[VXidg^h 7ji lZ YdcÉi lVci djg eZdeaZ id WZ ^c VXX^"
i]Z egZhhjgZ hdbZ ZbeadnZZh [ZZa l]Zc V YZcih#HdlZ]VkZidbdi^kViZi]Zb^cdi]Zg
_dWdgVegd_ZXi^hWZ]^cYhX]ZYjaZ#I]^hegZh" lVnh# =Vk^c\ i]Zb a^hiZc id iZhi^bdc^Vah a^`Z
hjgZ XVc WZ ]^\]an higZhh[ja VcY XVc ^beV^g ?Žg\Éh^hdcZ!]Vk^c\i]ZblViX]V[^abVWdji
ZbeadnZZhÉVW^a^inidXdcXZcigViZ!XgZVi^c\V ]dl V ldg`eaVXZ [ViVa^in V[[ZXih i]Z k^Xi^bÉh
[Vb^an^hVcdi]Zg#6ii]ZCdglZ\^VcXdbeVcn
kZgnYVc\Zgdjhh^ijVi^dc#
HiVid^a!>hVlV[^ab^cl]^X]Vl^YdlVcYWdi]
6gZcÈiVXX^YZcihd[iZch^beani]ZgZhjaid[WVY ]ZgildhbVaaYVj\]iZghiVa`VWdjii]Z^g]jh"
ajX`4
WVcY$[Vi]ZgYn^c\Vildg`VcYi]Zadc\"iZgb
LVX]hbji]/6WhdajiZancdi#EZdeaZ[gZfjZcian Z[[ZXihi]^h]Vh]VYdci]Z^g[Vb^an#I]^hbdkZY
hVn i]Vi Vc VXX^YZci gZhjaiZY [gdb V X]V^c d[ bZidgZYdjWaZbndlcXdbb^ibZciidhV[Zin#
jc[dgijcViZ ZkZcih# 7ji i]ViÉh cdi gZVaan igjZ#
Djg ^ckZhi^\Vi^dch ]VkZ h]dlc i]Vi VXX^YZcih
VXijVaangZhjai[gdbVX]V^cd[b^hiV`Zh#>chigjX"
i^dchlZgZb^h^ciZgegZiZY!hjeZgk^hdghlZgZjc"
XaZVgdgY^YcÉibdc^idgV_dW!i]ZXgZlYdZhcÉi
eZgXZ^kZ i]Z h^ijVi^dc Vh YVc\Zgdjh dg hdbZ
bZbWZghd[i]ZXgZladd`i]Zdi]ZglVn^chiZVY
d[^ciZgkZc^c\idhideVYVc\ZgdjhVXi^dc#
L]Vi gdaZ Yd bVcV\Zgh eaVn ^c dXXjeVi^dcVa
hV[Zin4
LVX]hbji]/ Djg [^\jgZh h]dl i]Vi VXX^YZci
[gZfjZcXn ^h adl ^c jc^ih l]ZgZ hZc^dg bVc"
V\Zgh VXi^kZan egdbdiZ hV[Zin VcY ]^\]Zg Vi
jc^ih l]ZgZ hZc^dg bVcV\Zgh dcan eVn a^e
hZgk^XZidhV[Zin#
6gZXdhidghiV[[gZYjXi^dchVahd[VXidgh4
LVX]hbji]/I]VildjaYWZZmigZbZan]VgY
idYZbdchigViZ#L]^aZ^iÉhXZgiV^canigjZi]Vi
:#DC cZZYh id YZa^kZg hda^Y ZVgc^c\h! Lja[
7ZgcdiVi VcY 8]g^hide] 9~coZg"KVcdii^ gZ"
XZcian hiViZY jcZfj^kdXVaan i]Vi Æcdi]^c\
djgXdbeVcnYdZh^hhd^bedgiVcidghdjg"
\Zcii]Vi^ildjaYgZfj^gZdjgZbeadnZZhid
ldg` ^c jchV[Z XdcY^i^dch#Ç Ndj XVcÉi WZ
XaZVgZgi]Vci]Vi#
L]Vi YdZh :#DC Yd id ]Zae ZbeadnZZh l]d
l^icZhhVcVXX^YZci4
LVX]hbji]/ LZ egdk^YZ XdjchZaa^c\ id ]Zae
ZbeadnZZh YZVa l^i] i]Z igVjbV d[ hZZ^c\ V
8dcigVXildg`ZghVXXdjci[dgZ^\]id[i]ZiZc
ldg`eaVXZ[ViVa^i^ZhlZÈkZ]VYi]^hnZVg#6gZcÈi
XdcigVXidgh [Vb^a^Vg l^i] djg hV[Zin hiVcY"
VgYh4
LVX]hbji]/>iVc\ZghbZl]Zc>gZedgiVWdji
V[ViVaVXX^YZciVcYdcZd[i]Z[^ghifjZhi^dch>
\Zi^hl]Zi]Zg^ilVhdcZd[djgZbeadnZZhdg
VXdcigVXidg#L]ViYdZhi]VibViiZg4HdbZdcZ
Y^ZY#>_jhilVciid`cdll]n^i]VeeZcZYVcY
]dllZXVcegZkZci^i[gdb]VeeZc^c\V\V^c#
L]ViÈh:#DCYd^c\idbV`Z^ihhV[ZineZg[dgb"
VcXZZkZcWZiiZg4
LVX]hbji]/ > i]^c` lZÉgZ bV`^c\ \ddY
egd\gZhh# LZ cZZY id [dhiZg Vc jcgZaZci^c\
Xdbb^ibZciidhV[Zin#I]Z:#DC7dVgYd[BVc"
V\ZbZci ]Vh hiViZY XaZVgan i]Vi ZkZgndcZ
ldg`^c\ [dg djg XdbeVcn! ^cXajY^c\ XdcigVX"
idgh!bjhiViVaai^bZhWZVlVgZd[l]Vii]ZnÉgZ
Yd^c\VcYcZkZgZc\V\Z^cjchV[Zldg`egVX"
i^XZh#LZÉgZVW^\XdbeVcn!l]^X]ZcVWaZhjh
id aZVgc [gdb ZVX] di]Zg# >iÉh cdiZldgi]n!
i]dj\]! i]Vi :#DC XdbeVc^Zh l^i] V \ddY dg
ZmXZaaZci hV[Zin gZXdgY Xdci^cjZ id Vh` l]Vi
i]Zn XVc Yd id WZ ZkZc WZiiZg# GZ\gZiiVWan!
i]dhZi]VicZZYid^begdkZd[iZcYdcÉiVh`#
LZcZZYidegdYi]ZbVa^iiaZ#I]ViÉhdcZd[
i]Z gZVhdch l]n lZÉgZ hZii^c\ je V HV[Zin
6XVYZbn Vi :#DC 6XVYZbn l]^X] l^aa d[[Zg
igV^c^c\idWdVgYbZbWZgh!hZc^dgbVcV\Zgh!
VcYhV[ZinXddgY^cVidgh#I]Z[^ghiXdjghZl^aa
iV`ZeaVXZ^c?VcjVgn'%%.#
;ViVa VXX^YZcih ]VkZ id WZ gZedgiZY id i]Z
:#DC7dVgYd[BVcV\ZbZcil^i]^c')]djgh#
NdjÈgZ Vahd ValVnh dcZ d[ i]Z [^ghi eZdeaZ id
[^cYdji#L]Vi`^cYd[Zbdi^dchYdndj]VkZ4
LVX]hbji]/BniVh`^hid\Vi]ZgVaai]Z[VXih
VWdji Vc VXX^YZci VcY VcVanhZ i]Zb dW_ZX"
i^kZan#7jiVXX^YZcihhi^aaV[[ZXibZ#>iÉh]VgYid
YZVal^i]i]Z[VXii]ViVcVXX^YZciÄVcYi]jh
VYZVi]ÄXdjaYÉkZWZZcegZkZciZY#I]ZYZVi]
d[hdbZdcZl]d]VhVhedjhZVcYhbVaaX]^a"
YgZc^hi]Zldghi#>hjeedhZ^iÉh`cdl^c\i]Vi
i]Z adhh VcY igVjbV l^aa V[[ZXi [Vb^an bZb" =dlXVcZbeadnZZheaVnVcVXi^kZgdaZ4
LVX]hbji]/>ÉYa^`ZZkZgnZbeadnZZidZbWgVXZ
WZgh[dgi]ZgZhid[i]Z^ga^kZh#
Vc:#DCJ#H#hV[Zinhad\Vc/Æ6cndcZXVcgZ[jhZ
NdjÈgZ [Vb^a^Vg l^i] i]Z hV[Zin XjaijgZ VXgdhh ideZg[dgbjchV[Zldg`VcYgZedgijchV[Zldg`
:#DC#6gZi]ZgZY^[[ZgZcXZh4
XdcY^i^dch#ÇLZVaacZZYid]VkZi]ZXdjgV\Zid
LVX]hbji]/ NZh! h^\c^[^XVci Y^[[ZgZcXZh# 6 heZV`jel]ZclZi]^c`hdbZi]^c\^hcÉihV[Z#
XdjcignÉh ldg`eaVXZ XjaijgZ ^h XadhZan ^ciZg"
I]^hVeea^Zhiddjgd[[^XZZbeadnZZh!idd#
il^cZYl^i]i]ZgZhid[^ihXjaijgZ#>chdbZd[ >[ V Xd"ldg`Zg ^h Yg^k^c\ ndj id V bZZi^c\
i]Z eddgZg Xdjcig^Zh l]ZgZ lZ deZgViZ djg VcY^hiVa`^c\dc]^hXZaae]dcZ!eda^iZanVh`
ZbeadnZZhVgZXdc[gdciZYl^i]bdgZYVc\Zg" ]^bidZcYi]ZXVaadgejaadkZg#>[ndjÉgZi]Z
djhh^ijVi^dch!l]ZgZVh^cg^X]Xdjcig^ZhhV[Z" Yg^kZg! bV`Z hjgZ ZkZgndcZ ^c i]Z XVg ^h
inegdXZYjgZhVgZbdgZg^\dgdjhanYdXjbZci" WjX`aZYjeWZ[dgZndjhiVgid[[#HeZV`^c\je
ZYVcYXdbea^ZYl^i]#
hVkZha^kZh#
;daadl^c\i]Z
gZXZci[ViVaVXX^"
YZcihVidjg[VX^a^"
i^Zh!=VgVaYLVX]h"
bji]!K^XZEgZh^YZci
[dg=ZVai]HV[Zin!
iVa`ZYidjhVWdji
l]ViXVjhZhVXX^"
YZcih!]dli]Zn
V[[ZXieZdeaZ!VcY
l]VilZÉgZYd^c\id
egZkZcii]Zb#
:#DCLdgaY%)#'%%-
LdgaY%,
=Zae6Yk^XZ
ÅGZegZhZci^c\hZkZgZanY^hVWaZYeZdeaZ^h
^bedgiVcikdajciVgnldg`i]Vi^hXVgg^ZYdji
dcided[cdgbVaYV^anWjh^cZhh!ÆZmeaV^ch
BVii]^VhDZaaZg^X]!8]V^gbVcd[i]Z<gdjeÈhGZegZhZciVi^kZ7dYn[dg9^hVWaZYEZghdch#
A^kZadc\Zg!
ldg`adc\Zg
?ZchAd]bZnZg
^h9ZejinDbWjYh"
bVc[dgVeegdm^"
bViZan&!.%%Y^hV"
WaZY:#DCZb"
eadnZZh^c
<ZgbVcn#
>ci]ZYZXVYZhV]ZVY!YZbd\gVe]^XX]Vc\Zhl^aagZhjai^cV
h^\c^[^XVci^cXgZVhZ^ci]ZcjbWZgd[daYZgZbeadnZZh#I]Zn]VkZ
Vadiidd[[ZgdjgXdbeVcn#:#DC^hbV`^c\hjgZ^i]VhVadiid
d[[Zgi]Zb#
6YkdXViZ[dgY^hVWaZYZbeadnZZh
:a^b^cVi^c\
WVgg^Zgh
:#DC^hXdbb^iiZYidY^kZgh^inVcYZfjVa
deedgijc^in#6c^bedgiVcieVgid[i]^hXdbb^ibZci
^hXgZVi^c\deedgijc^i^Zh[dgY^hVWaZYZbeadnZZh#
?Zch Ad]bZnZg! Vc ZaZXig^XVa iZX]c^X^Vc Vi
:#DC @gV[ilZg`Z :@L! ]Vh adc\ hZgkZY Vh
Vc VYkdXViZ [dg ZbeadnZZh l^i] heZX^Va
cZZYh![^ghiVhVcDbWjYhbVcVi]^h[VX^a^in
VcYcdlVhYZejinDbWjYhbVc[dgZbeadn"
ZZhl^i]Y^hVW^a^i^Zh[dg:#DCÉhdeZgVi^dch^c
<ZgbVcn#
Ad]bZnZg]VYineZ&Y^VWZiZhl]Zc:#DC
]^gZY]^b^c&.-,#I]^hVXijVaanbV`Zh]^bVc
ZmXZei^dc# Bdhi d[ i]Z &!.%% Y^hVWaZY :#DC
ZbeadnZZh^c<ZgbVcnVXfj^gZYi]Z^gXdcY^"
i^dcV[iZg_d^c^c\i]ZXdbeVcn#;dgZmVbeaZ!
VbdidgXnXaZVXX^YZciaZ[iVc:@LZaZXig^X^Vc
^c 7VkVg^V V fjVYg^eaZ\^X#ÆCdl ]Z ldg`h ^c
djg iZX]c^XVa YgV[i^c\ YZeVgibZci!Ç hVnh Ad"
]bZnZgd[i]ZZbeadnZZÉhhjXXZhh[jaedhi"VX"
X^YZci gZ^ciZ\gVi^dc# BV`^c\ ]^h cZl ldg`
Zck^gdcbZci VXXZhh^WaZ idd` V XddgY^cViZY
Z[[dgi# GVbeh lZgZ Wj^ai! VcY cZl Yddgh ^c"
hiVaaZY#:@LlVh]VeenbV`Zi]ZX]Vc\Zhid
ZcVWaZ V h`^aaZY VcY ZmeZg^ZcXZY ZbeadnZZ
id Xdci^cjZ bV`^c\ V Xdcig^Wji^dc id i]Z
XdbeVcn#
>cY^k^YjVahdaji^dch
Ad]bZnZg VcY ]^h [Zaadl dbWjYheZghdch
`cdl i]Z ^bedgiVcXZ d[ i]Z ^cY^k^YjVa^hZY
VeegdVX]#Æ9^hVWaZY ZbeadnZZh Yd i]Z^g _dW
_jhi a^`Z VcndcZ ZahZ!Ç ]Z hVnh#Æ7ji i]Zn d["
iZccZZY^cY^k^YjVahdaji^dchVii]Z^gldg`"
eaVXZ#Ç Id [^cY hjX] hdaji^dch! dbWjYheZg"
hdch ldg` l^i] XadhZan l^i] bVcV\ZbZci!
ZbeadnZZ gZegZhZciVi^kZh! \dkZgcbZci
V\ZcX^Zh!VcYi]ZY^hVWaZYZbeadnZZhi]Zb"
hZakZh#6cYbdhiYdi]^h^cVYY^i^dcidi]Z^g
gZ\jaVg_dW#
6\ddY[ZZa^c\
6ai]dj\]Vh9ZejinDbWjYhbVcAd]bZnZg
^hdcangZfj^gZYidldg`]Va[i^bZVi]^hgZ\"
jaVg _dW Vh V Xdcigda iZX]c^X^Vc Vi ;Vg\Z
edlZg hiVi^dc cZVg 7gZbZc ^c cdgi]lZhi
<ZgbVcn! ]^h ild gdaZh `ZZe ]^b kZgn Wjhn#
ÆI]ZgZÉhValVnhhdbZi]^c\idWZYdcZ!ÇhVnh
Ad]bZnZg! l]d Vahd YZkZadeh hd[ilVgZ id
Xdcigda VcY bdc^idg edlZg eaVci Zfj^e"
bZci#
>hVaai]ZZmigVZ[[dgildgi]^i4Æ9Z[^c^iZan!Ç
Ad]bZnZg hVnh#Æ>c eVgi WZXVjhZ bn Z[[dgih
VgZ gZXd\c^hZY! ^c eVgi WZXVjhZ ]Zae^c\ id
^ciZ\gViZ di]Zg Y^hVWaZY ZbeadnZZh \^kZh
bZ V \ddY [ZZa^c\ VcY bdi^kViZh bZ id Yd
bdgZ#Ç 7ji i]Zc ]ZÉh dc ]^h lVn V\V^c/ ]Z
]Vh di]Zg bZZi^c\h ^c 9“hhZaYdg[ VcY Vc"
di]ZgaViZ^ci]ZYVnWVX`^c7gZbZc!VWdji
&*%b^aZhVlVn#
9ZY^XViZYeZdeaZ
JcYZg <ZgbVc aVWdjg aVl! XdbeVc^Zh bjhi
]VkZVXZgiV^cb^c^bjbeZgXZciV\Zd[Y^hV"
WaZYZbeadnZZh!VcYi]ZgZVgZegZX^hZgZ\j"
aVi^dch [dg i]Z^g ^ciZ\gVi^dc# Bdhi di]Zg
Xdjcig^Zh YdcÉi ]VkZ fjdiVh VcY ^chiZVY
eaVXZ i]Z [dXjh dc Zchjg^c\ ZfjVa deedgij"
c^in#L]ViZkZgi]ZhnhiZb![^cY^c\i]Zg^\]i
^ciZ\gVi^dchdaji^dch[dgY^hVWaZYZbeadnZZh
^h ZVh^Zg l^i] i]Z ]Zae d[ YZY^XViZY eZdeaZ
a^`Z?ZchAd]bZnZg#
I]Z V\Z higjXijgZ d[ :jgdeZÉh edejaVi^dc ^h jcYZg\d^c\ YgVbVi^X X]Vc\Zh# 7n '%(%!
i]ZgZl^aaWZ&-b^aa^dc[ZlZgX]^aYgZcVcYndjc\eZdeaZ^ci]Z:jgdeZVcJc^dci]Vc
i]ZgZVgZidYVn!VcY[dgZkZgnildeZdeaZhi^aaldg`^c\!dcZl^aaWZ^cgZi^gZbZci#A^[Z
ZmeZXiVcXn ^h \d^c\ je! W^gi] gViZh VgZ \d^c\ Ydlc# ;ZlZg eZdeaZ VgZ ldg`^c\! VcY
i]dhZi]ViYdl^aa]VkZidgZi^gZaViZg#:#DC]VhWZZc`ZZe^c\VXadhZlViX]dci]ZhZ
igZcYhVcY]VhYZh^\cZYV<gdjel^YZeZdeaZhigViZ\nidbZZii]ZX]VaaZc\ZhV]ZVY#
>ih `Zn XdbedcZcih VgZ Zc]VcXZY =G eaVcc^c\ Vadc\ l^i] ^c^i^Vi^kZh id ^cXgZVhZ i]Z
ZbeadnVW^a^ind[VaaZbeadnZZh#
8]Vc\^c\Vhhjbei^dch
HdbZ:#DCXdbeVc^ZhVagZVYn]VkZ^c^i^Vi^kZh^ceaVXZ#:#DC6kVXdc!VgZ\^dcVaY^hig^"
Wji^dcXdbeVcn^ccdgi]"XZcigVa<ZgbVcn!]VhYZkZadeZYVXdbegZ]Zch^kZegd\gVbbZ
ZcXdbeVhh^c\]ZVai]bVcV\ZbZci!`cdlaZY\ZigVch[Zg!VcYiVg\ZiZYgZXgj^i^c\d[Zm"
eZg^ZcXZYegd[Zhh^dcVah#I]Zegd\gVbbZVahdhZZ`hidgV^hZVlVgZcZhhVcYX]Vc\ZVh"
hjbei^dch# 6[iZg Vaa! Vh i]Z edejaVi^dc V\Zh i]ZgZ l^aa WZ [Vg [ZlZg deedgijc^i^Zh [dg
ZVgangZi^gZbZci#:beadnZZhl^aa]VkZidVXXZeii]Vii]ZnÉgZa^`Zanidldg`adc\Zgi]Vc
i]Z^geVgZcihY^Y#
:#DCl^aa]VkZidX]Vc\Z!idd!WneVn^c\bdgZViiZci^dcidi]ZcZZYhd[daYZgZb"
eadnZZh VcY ZcXdjgV\^c\ i]Zb id h]VgZ i]Z^g ZmeZgi^hZ VcY ZmeZg^ZcXZ#I]ViÉh hdbZ"
i]^c\:#DCCdgY^X^hYd^c\WnbZVchd[VheZX^VaegZ"gZi^gZbZcihX]ZbZ#>cgZijgc[dg
iV`^c\ i^bZ id h]VgZ i]Z^g `cdlaZY\Z l^i] ndjc\Zg hiV[[! ZbeadnZZh dkZg *- daY XVc
iV`ZVYkVciV\Zd[ViigVXi^kZdei^dchidbdkZidlVgYhgZi^gZbZci\gVYjVaan#JcYZgi]Z
hX]ZbZ!l]^X]iV`ZhZ[[ZXi^c'%%.!+'"nZVg"daYZbeadnZZhXVcldg`-%eZgXZcid[[jaa
i^bZVcYhi^aagZXZ^kZ.%eZgXZcid[i]Z^g[jaa"i^bZhVaVgn#
HiVn^c\]ZVai]n
Idldg`adc\Zg!ndj]VkZidhiVn]ZVai]n#I]ViÉhl]n:#DC]VhcjbZgdjhlZaacZhh"egd"
bdi^dc egd\gVbbZh/ ]ZVai] VlVgZcZhh YVnh! [gZZ ZVgan XVcXZg hXgZZc^c\! [gZZ cjig^"
i^dcVaVcYZg\dcdb^XVYk^XZ!gZ^bWjghZbZcih[dg]ZVai]"XajWbZbWZgh]^eh!VcYbjX]
bdgZ#7jiidWZcZ[^i[gdbi]ZhZegd\gVbbZh!ZbeadnZZhcZZYideVgi^X^eViZ^ci]Zb#
:#DC]deZhi]VibdgZVcYbdgZYd!hdi]VidjgXdbeVcnXVcXdci^cjZidWZcZ[^i[gdb
daYZgZbeadnZZhÉ^ckVajVWaZ`cdlaZY\ZVcYZmeZg^ZcXZ[dgVadc\i^bZidXdbZ#
H]Vg^c\`cdlaZY\Z
VXgdhh\ZcZgV"
i^dch/IZVbAZVYZg
:a^hVWZi]HX]b^Yi
d[:#DC@gV[ilZg`Z
VcYZc\^cZZg^c\
hijYZci8]g^hi^cV
G^c\hibZ^Zg#
LVg[dgiVaZci
8dbeVc^ZhldgaYl^YZVgZXdbeZi^c\[dgi]ZbdhiiVaZciZYZbeadnZZh#
6cYcdi_jhi[dggZXZcijc^kZgh^in\gVYjViZh#I]Zh]dgiV\Zd[Zc\^cZZgh^h
^cXgZVh^c\_dWdeedgijc^i^Zh[dgZmeZg^ZcXZYiZX]c^XVahiV[[#
:#DCLdgaY%)#'%%-
%-IZX]cdad\n
ÅI]ZYZkZadebZcid[XaZVc"XdVaiZX]cdad\n
^hdcZd[i]ZW^\\ZhiX]VaaZc\Zh[VX^c\djg
^cYjhign#>cYZZY!^ibVnWZi]ZW^\\Zhi!Æ
:#DC8:DLja[7ZgcdiVihVnh#
8jii^c\XVgWdc
HVbZedlZg!
]Va[i]Z
Zb^hh^dch
8dckZci^dcVaedlZgeaVcihl^aaXdci^cjZideaVnVc
^bedgiVcigdaZ^cdjg\ZcZgVi^dcb^mlZaa^cidi]Z
[jijgZ#7jil]Vil^aalZYdl^i]i]ZXVgWdcY^dm^YZ4
:#DC]VhaVjcX]ZYVcjbWZgd[egd_ZXihidYZkZade
XVgWdcXVeijgZVcYhidgV\Z#
8VgWdcXVeijgZVcYhidgV\Z88HhZZbhidd["
[Zgi]Zhdaji^dcidbVcnegdWaZbh![gdbZcZg\n
hZXjg^inidXa^bViZegdiZXi^dc#7ji^iÉh[Vg[gdb
jcXdcigdkZgh^Va# HdbZ hVn i]Vi ^ih igjZ Xdhih
VgZ^bedhh^WaZidXVaXjaViZVcYi]Vii]ZZmigV
ZcZg\n gZfj^gZY id XVeijgZ XVgWdc ZgVhZh V
fjVgiZg XZcijgn d[ VYkVcXZh ^c i]ZgbVa Z[[^"
X^ZcXnd[XdckZci^dcVa\ZcZgVi^dc#
>iÉh ldgi] gZbZbWZg^c\ i]Vi V h^b^aVg Y^h"
Xjhh^dc l^i] h^b^aVg Vg\jbZcih VWdji Xdhih
VcY Z[[^X^ZcXn idd` eaVXZ ^c i]Z ZVgan &.-%h#
I]Z hjW_ZXi lVh YZhjae]jg^hVi^dc Zfj^ebZci!
l]^X]]VhcdlWZXdbZi]Z^cYjhignhiVcYVgY#
>ci]ZYZWViZdc88H!:#DC]VhbVYZVYZX^"
h^dc# LZ V^b id YZkZade 88H iZX]cdad\n hd
i]Vi^iÉhgZVYn[dgWgdVYYZeadnbZciWn'%'%#
I]Zg^\]ib^m
7n '%(%! i]Z :#DC <gdje ^ciZcYh id ]VakZ ^ih
8D'Zb^hh^dchXdbeVgZYl^i]&..%aZkZah![gdb
,'%id(+%\gVbheZg`^adlVii"]djg#IdVX]^ZkZ
i]^h dW_ZXi^kZ! Wn bV^ciV^c^c\ V WVaVcXZY Zc"
Zg\nb^m#LZÉgZZmeVcY^c\djggZcZlVWaZhXV"
eVX^in!iV`^c\VXi^dcidbV^ciV^ci]ZeZgXZci"
V\ZcjXaZVgXVeVX^in!Zc]VcX^c\i]ZZ[[^X^ZcXn
d[djgXdckZci^dcVa\ZcZgVi^dc[aZZi!VcYldg`"
^c\l^i]^ciZgcVi^dcVaeVgicZghdchZkZc88H
egd_ZXihVXgdhh:jgdeZVcYdcZ^ci]ZJc^iZY
HiViZh#IdeddadjgZmeZgi^hZ[gdb@ZcijX`nid
HlZYZc!lZÉkZXgZViZYV88HXdbeZiZcXZcZi"
ldg`#
I]ZfjZhi[dghZfjZhigVi^dc
I]ZgZÉhVadiidYdWZ[dgZ88HXVcWZgdaaZYdji
dcVaVg\ZhXVaZ#8VeijgZiZX]cdad\^ZhcZZYid
WZ ^begdkZY VcY YZkZadeZY Vi i]Z cZXZhhVgn
hXVaZ#6ai]dj\]hdbZ8D'hidgV\Z^hVagZVYnWZ"
^c\hV[ZanYZkZadeZY!lZcZZYid^begdkZdjg
`cdlaZY\Zd[8D'YZZejcYZg\gdjcYVcYYZb"
dchigViZ i]Vi bVcn bdgZ ediZci^Va h^iZh VgZ
hj^iVWaZ# =j\Z jcYZg\gdjcY [VX^a^i^Zh l^aa WZ
cZZYZY^ci]Zadc\iZgbVcYi]^hl^aaWZi]ZgZ"
hedch^W^a^ind[:#DC<VhHidgV\Z#;dgdcZi]^c\!
]j\ZjcYZg\gdjcYhidgV\Z[VX^a^i^Zhl^aa]VkZid
WZYZkZadeZY#6idjgXdbeVcn!:#DC<VhHidg"
V\Zl^aaWZgZhedch^WaZ[dgi]^hVheZXid[88H#
I]ZcZl:#DCGj]g\VhhjWh^Y^Vgn^hZmeadg"
^c\ dei^dch dch]dgZ VcY d[[! ^cXajY^c\ hVa^cZ
Vfj^[Zghedgdjh!hVailViZg"WZVg^c\gdX`[dgbV"
i^dch!YZeaZiZYd^aVcYcVijgVa\Vh[^ZaYhVcY
h^iZhjcYZgi]ZhZVWZY#6e^adiegd_ZXi^ckdak^c\
:#DCVcY&-eVgicZgh[gdbc^cZXdjcig^Zh]Vh
WZZchidg^c\8D'+%%bZigZhWZadl\gdjcY^c
@Zio^c! lZhi d[ 7Zga^c! h^cXZ b^Y"'%%-# I]Z
egd_ZXi!XVaaZY8D'H>C@!^h:jgdeZÉh[^ghiiZhid[
eZgbVcZciXVgWdchZfjZhigVi^dc#DkZgi]ZcZmi
ildnZVgh!jeid+%!%%%bZig^Xidchd[8D'l^aa
WZe^eZY^cidVcVfj^[ZgWZcZVi]V[dgbZgjc"
YZg\gdjcY cVijgVa \Vh hidgV\Z [VX^a^in# >c i]Z
Vfj^[Zg!i]Z\Vhb^mZhl^i]lViZgVcY^hYgVlc
^cidi]ZedgdjhgdX`a^`Za^fj^Y^cidVhedc\Z#
Cdcedgdjh higViV VWdkZ i]Z Vfj^[Zg ZchjgZ
i]Vii]Z8D'YdZhcÉihZZeidi]Zhjg[VXZ#
BV`^c\88H]VeeZc
I]Z88H>beaZbZciVi^dcCZildg`eddahi]Z
`cdlaZY\ZVcYh`^aahd[i]ZbVcn:#DCZmeZgih
VcYXdbeVc^Zhl]dVgZ^ckdakZY^c88H![gdb
gZhZVgX]VcYYZkZadebZciidcZl"Wj^aYVcY
jcYZg\gdjcYhidgV\Z#
:#DCÈhiVg\Zi^hid]VakZ8D'Zb^hh^dchWn'%(%![gdb(+%id,'%\gVbheZg`^adlVii"]djg#
I]gZZXVeijgZbZi]dYh
LZÉgZXjggZcianiZhi^c\i]gZZbZi]dYhd[XVg"
WdcXVeijgZ/
ÄegZ"XdbWjhi^dcXVeijgZ
Äedhi"XdbWjhi^dcXVeijgZ
Ädmn[jZa
6ai]dj\] :#DC ^h ^ckdakZY ^c aVg\Z"hXVaZ
egd_ZXih ^c Vaa i]gZZ VgZVh! lZÉgZ eVgi^XjaVgan
]deZ[ja [dg i]Z edhi"XdbWjhi^dc bZi]dY# >i
XdjaY WZ gZigd[^iiZY dc Zm^hi^c\ edlZg eaVcih
VcYhZZbhidd[[Zgi]Z\gZViZhiYZkZadebZci
ediZci^Va#LZÉgZVagZVYnaVn^c\i]Z[djcYVi^dc
BVg`jh:lZgi!8dgedgViZ9ZkZadebZci!CZlIZX]cdad\^Zh!:#DC6<
ÅDjgV^b^hidiV`Z88Hi]ZYZX^h^kZhiZe
[dglVgY[gdbgZhZVgX]idVeea^XVi^dc#6i
i]ZhVbZi^bZ!lZÈgZign^c\id\V^cejWa^X
VXXZeiVcXZ[dg88HVcY]ZaeXgZViZi]Z
cZXZhhVgnaZ\VaVcYgZ\jaVidgn[gVbZldg`
idZcVWaZi]ZXdchigjXi^dcVcYdeZgVi^dc
d[8D'hidgV\Z[VX^a^i^Zh#Æ
[dgXaZVcXdVaWnWj^aY^c\cZlXdVa"[^gZY\ZcZg"
Vi^c\jc^ihhdi]Vii]ZnXVc[^iiZYl^i]88HVh
hddcVhi]ZiZX]cdad\n^hgZVYnVcYXdbbZg"
X^Vaank^VWaZ#DjgcZl"Wj^aYegd_ZXih^cL^a]Zab"
h]VkZc*%"eajhVcY6cilZge]VkZWZZcXZgi^"
[^ZY XVeijgZ"gZVYn Wn IzK! <ZgbVcnÉh ^cYZ"
eZcYZciiZhi^c\V\ZcXn#
7ZXVjhZi]ZgZÉhVl^YZkVg^Zind[VeegdVX]"
Zh! :#DC ^h ^ckdakZY ^c bdgZ i]Vc )% 88H gZ"
hZVgX]egd_ZXihVcY]VhZVgbVg`ZYVWdji—-%
b^aa^dc [dg i]ZhZ Z[[dgih# Dc i]Z cZmi eV\Z!
lZÉaa ^cigdYjXZ ndj id hdbZ d[ i]Z egd_ZXih
l]^X]VgZkVg^djh88HiZX]cdad\^Zh#
HVbjZa@jiiZg!88H>beaZbZciVi^dcCZildg`!:#DC:cZg\^Z
ÅI]ZejgedhZd[ZhiVWa^h]^c\V<gdje"
l^YZcZildg`^hidZcVWaZ:#DCidYZ"
eadn88HWn'%'%#LZlVciidXddgY^cViZ
88HVXi^k^i^ZhVXgdhhi]ZXdbeVcnVcY
Wg^c\id\Zi]Zg:#DCeZdeaZ[gdbY^[[Zg"
ZcibVg`ZiVcYWjh^cZhhjc^ihl]dXVc
Xdcig^WjiZi]Z^gh`^aah^ciZX]cdad\n!
Xdbbjc^XVi^dch!VcY\dkZgcbZciVcY
gZ\jaVidgnV[[V^gh#Æ
:#DCLdgaY%)#'%%-
IZX]cdad\n%.
8D'
]Zaehi]ZZVgi]gZiV^c]ZVi#L^i]djiVcdgbVa\gZZc]djhZZ[[ZXi!i]ZVkZgV\Zhjg[VXZ
iZbeZgVijgZldjaYWZb^cjh&-YZ\gZZh8Zci^\gVYZ#I]ZV^glZZm]VaZXdciV^chVWdji
[djgeZgXZci8D'!&%%i^bZhbdgZi]Vci]ZhjggdjcY^c\V^g#DkZgV&%%"nZVga^[ZheVc!
dcZ[^gigZZZmigVXihjeid&#-bZig^Xidchd[8D'[gdbi]ZVibdhe]ZgZ#
Dmn[jZaEjgZdmn\Zc!XdcXZcigViZY8D'
:#DCJ@^hiZhi^c\i]Zdmn[jZabZi]dY^cVeVgicZgh]^el^i]i]Z8VcV"
Y^Vc>ciZgcVi^dcVaIZhi8ZcigZ[dg8VgWdc9^dm^YZ8VeijgZ^cHVh`ViX]"
ZlVc#>iVahddeZgViZhViZhidmn[jZajc^i^ci]ZJc^iZY@^c\Ydb#>ci]^h
bZi]dY![dhh^a[jZahVgZWjgcZY^cejgZdmn\Zc#I]ZgZhjai^c\Zm]Vjhi
higZVbXdciV^chcdc^igd\Zcdm^YZhVcYXdch^hihd[jeid-*eZgXZci
8D'#
Egdk^Y^c\ejgZdmn\Zc[dgXdbWjhi^dc^hiZX]c^XVaanYZbVcY^c\VcY
ZcZg\n^ciZch^kZ!l^i]gZYjXZhi]^hbZi]dYÉhZcZg\nZ[[^X^ZcXn#Dci]Z
di]Zg]VcY!i]ZZm]VjhihigZVbÉh]^\]8D'XdcXZcigVi^dcaVg\ZanZa^b^"
cViZhi]ZcZZY[dgZaVWdgViZXVeijgZiZX]cdad\n#I]Z8D'bjhih^bean
WZhZeVgViZY[gdblViZgkVedjgVcYdi]Zg\VhZha^`Zdmn\ZcVcYhja"
e]jgY^dm^YZ!egdXZhhZhi]ViVagZVYnZm^hi#Ldg`^hXjggZcianjcYZglVn
idYZkZadedmn[jZa[dgji^a^in"hXVaZVeea^XVi^dch#
EgZ"XdbWjhi^dcXVeijgZ8aZVc]nYgd\Zc
I]Z[^ghihiZed[i]^hbZi]dY^hid\Vh^[nXdVa!igVch[dgb^c\^i^cidb^m"
ijgZ Xdch^hi^c\ d[ XVgWdc bdcdm^YZ 8D VcY ]nYgd\Zc# >c i]Z cZmi
hiZe!8D^hb^mZYl^i]lViZgkVedjgidn^ZaY8D'!l]^X]^hXVeijgZYVcY
hidgZYjcYZg\gdjcY#=nYgd\Zci]ZchZgkZhVhVXaZVc[jZa[dg\ZcZgVi"
^c\ ZaZXig^X^in#I]Z ldgaYÉh [^ghi cZVgan oZgd"Zb^hh^dc XdVa"[^gZY edlZg
eaVci^hWZ^c\YZh^\cZYVcYWj^aiWni]Z;jijgZ<Zc>cYjhig^Va6aa^VcXZ!
VXdchdgi^jbXdch^hi^c\d[:#DCJ#H#VcY&'di]ZgZcZg\nVcYXdVaXdb"
eVc^Zh#I]ZeaVci!Vc^ciZ\gViZY\Vh^[^XVi^dcXdbW^cZYXnXaZjc^i!l^aa
XdhiVeegdm^bViZan—+%(b^aa^dcidWj^aYVcYl^aaWZh^iZY^cBViiddc!
>aa^cd^h#
I]Z ',* bZ\VlVii jc^i l^aa egdYjXZ Zcdj\] ZaZXig^X^in id hjeean
VWdji&*%!%%%]dbZhVcYVahdegdYjXZ]nYgd\Zc[dgdi]ZgVeea^XVi^dch#
EVjaL#I]dbehdc!HZc^dgK^XZEgZh^YZcid[:#DCJ#H#:cZg\nHZgk^XZh!
hV^Y/ÆI]Z;jijgZ<Zc6aa^VcXZ^hcdlVlV^i^c\VcZlegZh^YZci^VaVY"
b^c^higVi^dcidbV`Zi]ZeaVciVgZVa^in#:#DCJ#H#Xdci^cjZhidhiVcY
WZ]^cYi]Z;jijgZ<Zcegd_ZXiVcYldjaYWZeaZVhZYideaVnVc^bedg"
iVcigdaZ^cVegd_ZXii]VidcZYVnbVnX]Vc\Zi]ZlVnlZ\ZcZgViZ
ZaZXig^X^in#Ç
Edhi"XdbWjhi^dcXVeijgZLVh]^c\djii]Z8D'
>cedhi"XdbWjhi^dcXVeijgZ!8D'^hZmigVXiZY
[gdb i]Z Zm]Vjhi higZVb jh^c\ V hdakZci! V
egdXZhh h^b^aVg id YZhjae]jg^hVi^dc# DcZ
egdb^h^c\VeegdVX]!l]^X]jhZhVbbdc^VVh
i]ZhdakZci!XVeijgZhjeid.%eZgXZcid[8D'
VcYgZfj^gZhaZhhZcZg\ni]Vcdi]ZgXVeijgZ
egdXZhhZh#
:#DCHkZg^\Z^h:jgdeZÉh[^ghiXdbeVcnid
iZhi i]^h VeegdVX]#I]Z iZhih VgZ WZ^c\ Xdc"
YjXiZYVi@Vgah]VbcedlZghiVi^dcdcVe^adi
jc^i Wj^ai Wn 6ahidb! V ;gZcX] \ZcZgVi^dc
Zfj^ebZci bVcj[VXijgZg# :#DC @gV[ilZg`Z!
l^i] hjeedgi [gdb :#DC :c\^cZZg^c\! ]Vh
Higdc\h^\cVa
:#DCcdl^caZVY^c\
Xa^bViZ"egdiZXi^dc
^cYZm
HiVgi^c\i]^hnZVg!:#DC^h^cXajYZY
^ci]Z8VgWdc9^hXadhjgZAZVYZg"
h]^e>cYZm89A>ejWa^h]ZYWni]Z
AdcYdc"WVhZY8VgWdc9^hXadhjgZ
Egd_ZXi89E#
I]Z89E^hV_d^ciZ[[dgid[(-*^c"
hi^iji^dcVa^ckZhidghidXdaaZXiYViV
dci]Z\gZZc]djhZ\Vh<=<Zb^h"
h^dchd[i]ZldgaYÈh*%%aVg\Zhi
XdbeVc^ZhVcYidZcXdjgV\ZXdb"
eVc^ZhidbV`ZXdbeaZiZVcY
igVcheVgZciZck^gdcbZciVaY^hXad"
hjgZh#Dcan+,d[i]ZhZXdbeVc^Zh
VgZ^cXajYZY^ci]Z^cYZm#
I]ZYViVXdaaZXiZYWni]Z89Eegd"
k^YZ^ckZhidghl^i]kVajVWaZ^c"
h^\]ih^cid]dlbV_dg^ciZgcVi^dcVa
XdbeVc^ZhVgZiVX`a^c\Xa^bViZ
X]Vc\Z#:#DCÈh^cXajh^dc^ci]Z^c"
YZm^hgZXd\c^i^dc[dgi]ZXZcigVa
eaVXZi]ViXa^bViZegdiZXi^dc]Vh^c
djgXdgedgViZhigViZ\n#
Å7Z^c\^cXajYZY^ci]Z89A>^hV
gZVaVX]^ZkZbZci!ÆhVnh:g^`Bd]c!
8dgedgViZGZhedch^W^a^inBVcV\Zg
[dg:ck^gdcbZciVaEgdiZXi^dcVi
:#DC6<^c9“hhZaYdg[#Å7ji^iÈhVahd
_jhii]ZWZ\^cc^c\#LZXVcWZZkZc
bdgZ^ccdkVi^kZVcYbV`ZdjgZc"
k^gdcbZciVaY^hXadhjgZhZkZcbdgZ
igVcheVgZci!l]^X]l^aa]Zaejh
bdkZje^ci]ZgVc`^c\^ci]ZnZVgh
V]ZVY#Æ
:VX]nZVgi]Z89EVh`h^ciZgcVi^dc"
VaXdbeVc^ZhidgZedgii]Z^g<=<
Zb^hh^dch#>iVhhZbWaZYi]ZldgaYÈh
aVg\ZhiYViVWVhZdcXdgedgViZ<=<
Zb^hh^dch#
[dg hZkZgVa nZVgh! l^aa h^bjaViZ YV^an deZgV"
i^dch VcY egdk^YZ gZa^VWaZ YViV [dg ji^a^in"
hXVaZVeea^XVi^dch#
I]Z^cYZmYZbdchigViZhi]Vi^ckZh"
idghVgZiV`^c\VXadhZgadd`Vi
l]ViXdbeVc^ZhVgZYd^c\idgZ"
YjXZi]Z^gZb^hh^dch#
9ZbdchigVi^dcjc^i^c:c\aVcY
A^`Z djg di]Zg cZl"Wj^aY egd_ZXih! :#DC J@Éh
cZlXdVa"[^gZY\ZcZgVi^c\jc^iVi@^c\hcdgi]
edlZghiVi^dcl^aaWZWj^aiXVeijgZ"gZVYn#I]Z
7Zhid[hZkZc
@^c\hcdgi]egd_ZXi^hZciZgZY^cidVXdbeZi^"
6aa hZkZc egd_ZXih l^aa WZ jhZY id iZhi hda" i^dcaVjcX]ZYWni]ZJ#@#YZeVgibZcid[7jh^"
kZcih a^`Z Vbbdc^V VcY a^bZ [dg ZmigVXi^c\ cZhh :ciZgeg^hZ VcY GZ\jaVidgn GZ[dgb id
8D' [gdb i]Z Zm]Vjhi higZVb# I]Z iZhih! [jcY V XaZVc"XdVa eaVci i]Vi jhZh edhi"Xdb"
l]^X] l^aa hiVgi ^c ZVgan '%%. VcY Xdci^cjZ Wjhi^dcXVeijgZ#
ÅI]^hV[[ZXihdjg\gdli]higViZ\n!
eVgi^XjaVganh^cXZZb^hh^dchhiVcY"
VgYhVgZ\Zii^c\hig^XiZgVcYXVg"
Wdceg^XZhVgZXZgiV^cid^cXgZVhZ
^ci]Zadc\iZgb!ÆBd]chVnh#Å7Z"
^c\^ci]Z89A>hZcYhVhigdc\h^\"
cVai]Vi:#DC^hViigVXi^kZid^ckZh"
idgh!^cXajY^c\^ckZhidghl]dVgZ
^ciZgZhiZY^cXa^bViZ"egdiZXi^dc^h"
hjZh#Æ
aVjcX]ZY [^kZ edhi"XdbWjhi^dc XVeijgZ
egd_ZXih^ceVgicZgh]^el^i]gZcdlcZY^ciZg"
cVi^dcVa XdbeVc^Zh a^`Z =^iVX]^ EdlZg :j"
gdeZ! B^ihjW^h]^ =ZVkn >cYjhig^Zh! H^ZbZch!
;ajdg!VcY8Vchdak#:#DC7ZcZajm^hejghj^c\
V gZhZVgX] egd_ZXi l^i] ICD ^c i]Z CZi]Zg"
aVcYh#
Å>i^h^bedgiVciid`ZZeXdVaVheVgid[
i]Zb^midbV^ciV^chZXjg^ind[hjeean
VcYV[[dgYVW^a^in#=dlZkZg!\^kZcl]Vi
lZ`cdlVWdjiXa^bViZX]Vc\Z!^i^hVahd
ZhhZci^Vai]ViXdVaWZXdbZhadlXVgWdc
^ci]Zadc\iZgb#>VbYZa^\]iZYidWZ
eVgid[i]^hYZbdchigVi^dcegd_ZXil]^X]!
^[hjXXZhh[ja!l^aa]VkZ\adWVah^\c^[^XVcXZ
^ci]Z[^\]iV\V^chiXa^bViZX]Vc\Z#Å
HiZ[Vc=€`Vchhdc!EgZh^YZci@Vgah]Vbc@gV[i!:#DCHkZg^\Z
7ZgcZAjcYfk^hi
6cYnGZVY!8aZVc8dVa7jh^cZhh9ZkZadebZciBVcV\Zg!:#DCJ@
Å>[i]Z@Vgah]VbciZhijc^iegdkZhidWZ
hjXXZhh[ja!lZÈaa^chiVaaVh^b^aVgjc^iVi
ygZhjcYedlZghiVi^dccZVgBVabŽl]ZgZ
lZÈgZXjggZcianWj^aY^c\V]^\]"Z[[^X^ZcXn
XdbW^cZY"XnXaZ\VhijgW^cZ#LZXVcVahd
^ckZhi^\ViZhidgV\Zdei^dchVii]ZBVabŽ
h^iZ!l]^X]^hadXViZYdci]Z`^cYd[\Zd"
ad\^XVa[dgbVi^dchi]ViVgZhj^iVWaZ[dg
adc\"iZgbXVgWdchZfjZhiZg^c\#Æ
9^g`BZnZg!IZX]cdad\n9^k^h^dc!:#DC@gV[ilZg`Z
ÅDjgcZlXdckZci^dcVa\ZcZgVi^c\jc^ih
]VkZVbjX]]^\]Zgi]ZgbVaZ[[^X^ZcXn
i]VcdaYZgjc^ih#I]^hVeea^Zh^ceVgi^XjaVg
idi]Z*%"eajhYZbdchigVi^dcjc^i
eaVccZY[dgL^a]Zabh]VkZc^ccdgi]lZhi
<ZgbVcn#8dbeVgZYl^i]di]ZgXdVa"[^gZY
eaVcih!i]Z*%"eajhjc^il^aaZb^i(%eZg"
XZciaZhh8D'eZg`^adlVii"]djg!ZkZcl^i]"
dji88HiZX]cdad\n#Æ
:#DCLdgaY%)#'%%-
&%Egd[^aZ
=ZVY^c\jei]Z8dgedgViZ>cX^YZciVcY8g^h^hBVcV\ZbZciYZeVgibZci
^h6dY]BVX;]^dccW]V^ggegdcdjcXZYÅ6BVX>ckZgÆ!VbZX]Vc^XVaZc\^cZZg
[gdbhdji]ZVhi>gZaVcYl]dVahd]daYhVcB76[gdbi]Z:jgdeZVcHX]dda
d[BVcV\ZbZciVcYIZX]cdad\n^c7Zga^c#=ZXVbZid:#DC^c;ZWgjVgn'%%,#
GZVYnidgZhedcY
:#DCVYdeih<gdjel^YZVeegdVX]id^cX^YZciXg^h^hbVcV\ZbZci
7VYi]^c\h]VeeZcid\ddYeZdeaZ#
I]Zn Vahd ]VeeZc id \ddY XdbeV"
c^Zh#I]ViÉhl]nlZcZZYidZchjgZ
i]VilZÉgZXdchiVciangZVYnidbV`Z
VXaZVg!XddgY^cViZYgZhedchZidi]Z
bVcng^h`hÄiddjgeZdeaZ!djg[V"
X^a^i^Zh! djg Wdiidb a^cZ! VcY djg
gZejiVi^dc Ä i]Vi VgZ ^c]ZgZci ^c
WZ^c\VbV_dg^ciZgcVi^dcVaZcZg\n
XdbeVcn l^i] deZgVi^dch ^c VWdji
(% Xdjcig^Zh# :#DC ^h cdl iV`^c\
i]^hgZVY^cZhhidVcZlaZkZaWnYZ"
h^\c^c\VcY^beaZbZci^c\V<gdje"
l^YZVeegdVX]id^cX^YZciVcYXg^"
h^hbVcV\ZbZci#
CZlVeegdVX]!cZlYZeVgibZci
AZVY^c\i]Z<gdjel^YZZ[[dgi^hi]Z
cZl 8dgedgViZ >cX^YZci 8g^h^h
BVcV\ZbZci YZeVgibZci Vi 8dg"
edgViZ8ZciZg!]ZVYZYWn6dY]BVX
;]^dccW]V^gg! l]d ^c VYY^i^dc id
:c\a^h] VcY <VZa^X heZV`h [ajZci
<ZgbVc#BdhigZXZcian]ZlVhheZ"
X^VaVYk^hdgid:#DCÉh8]^Z[DeZgVi"
^c\D[[^XZg?d]VccZhIZnhhZc#
8gZViZY^cb^Y"?jan'%%-WnVYZ"
X^h^dcd[i]Z:#DC7dVgYd[BVcV\Z"
bZci! i]Z YZeVgibZci ^h iVh`ZY
l^i] ^YZci^[n^c\ i]Z `^cYh d[ ^cX^"
YZcih VcY Xg^hZh :#DC XdjaY [VXZ!
YZh^\c^c\ i]Z dg\Vc^hVi^dcVa higjX"
ijgZhVcYegdXZhhZh:#DCcZZYhid
gZhedcYhl^[ianVcYZ[[ZXi^kZan!VcY
Zchjg^c\ i]Vi i]Z higjXijgZh VcY
egdXZhhZhVgZ^ceaVXZVcY[jcXi^dc"
^c\i]gdj\]djii]ZXdbeVcn#
ÆDjg bV^c iVh`h VgZ id ZchjgZ
i]Vii]ZZci^gZ:#DC<gdje^hXdb"
b^iiZYid^begdk^c\VlVgZcZhhVcY
egZkZci^dcd[i]Zi]^c\hi]ViXdjaY
]jgi jh Vh V XdbeVcn# LZ XVccdi
gZan dc V XdbW^cVi^dc d[ ajX` VcY
^begdk^hVi^dcid\Zijhi]gdj\]^c"
X^YZcih l^i] Xg^h^h ediZci^Va# Djg
V^b^hidejihigjXijgZhVcYegdXZ"
YjgZh^ceaVXZi]Vil^aaegZeVgZjh
[dg V gVc\Z d[ ZkZcijVa^i^Zh! ZkZc
dcZh lZ ]VkZcÉi i]dj\]i d[ nZi!Ç
BVX ;]^dccW]V^gg hVnh# 6aa :#DC
DcZi]^c\d[iZcaZVYhidVcdi]Zg#
Hdi]Z[^ghihiZe^cZhiVWa^h]^c\
VcZ[[ZXi^kZXg^h^h"bVcV\ZbZci
dg\Vc^oVi^dc^hidYZkZadeVc
^cX^YZci"gZedgi^c\XjaijgZ#
<gdjeXdbeVc^Zhl^aaVeed^ci>cX^"
YZci 8g^h^h BVcV\Zgh# I]Zn l^aa
gZXZ^kZ igV^c^c\ ^c Xg^h^h bVcV\Z"
bZci VcY! Vadc\ l^i] i]Z^g iZVb!
l^aa WZ gZhedch^WaZ [dg Zchjg^c\
i]Vii]Z^gXdbeVcn^beaZbZcihi]Z
egdXZhhZh VcY ^c[gVhigjXijgZ hZi
dji^ci]Z:#DC<gdjel^YZ>cX^YZci
VcY8g^h^h<j^YZa^cZh@G',!l]^X]
idd`Z[[ZXidc&,HZeiZbWZg!'%%-#
IZVbh!igV^c^c\!iddah
>c VYY^i^dc! Vc >cX^YZci 8g^h^h
BVcV\ZbZci8djcX^a!Xdch^hi^c\d[
Vaa bVg`Zi jc^i >cX^YZci 8g^h^h
BVcV\Zgh!l^aabZZidcVfjVgiZgan
WVh^h#I]^hXdjcX^al^aahZgkZVhV[d"
gjb[dgYZkZade^c\XdbbdcXg^h^h"
bVcV\ZbZci higViZ\^Zh VcY ^c^i^V"
i^kZh VcY [dg ^YZci^[n^c\ VcY h]Vg"
^c\WZhiegVXi^XZh#
6cdi]Zg^bedgiVcieVgid[WZ^c\
egZeVgZY^h]Vk^c\VgZhedchZiZVb
Vi i]Z gZVYn# I]ViÉh l]n Vaa :#DC
XdbeVc^Zhl^aaVahdZhiVWa^h]V8g^"
h^hBVcV\ZbZciIZVb8BI#6adc\
l^i]i]Z8dgedgViZ>cX^YZci8g^h^h
BVcV\ZgVXdbeVcnÉhXdgZ8BIl^aa
ine^XVaanXdch^hid[VhbVaacjbWZg
jhjVaan[djgdg[^kZd[ZmeZg^ZcXZY
bVcV\Zgh l^i] ZmeZgi^hZ ^c VgZVh
hjX] Vh deZgVi^dch! aZ\Va V[[V^gh!
VcYXdbbjc^XVi^dch#6aa8BIbZb"
WZghl^aagZXZ^kZheZX^VaigV^c^c\^c
Xg^h^h bVcV\ZbZci VcY ^c Xg^h^h
Xdbbjc^XVi^dch#I]Znl^aaXdcYjXi
eZg^dY^X Xg^h^h"h^bjaVi^dc Yg^aah id
iZhi i]Z^g XdbeVcnÉh gZVY^cZhh id
gZhedcYidXg^hZh#>ci]ZXVhZd[Vc
^cX^YZci l^i] Xg^h^h ediZci^Va i]Zn
l^aa ZkVajViZ i]Z h^ijVi^dc! XddgY^"
cViZi]Z^gXdbeVcnÉhgZhedchZ!VcY
ZchjgZ i]Vi i]Z ^hhjZ ^h YZVai l^i]
fj^X`an VcY gZhedch^Wan# ÆEji h^b"
ean!ÇBVX;]^dccW]V^ggZmeaV^ch!Æi]Z
8BIÉh_dW^hidegZkZciVc^cX^YZci
[gdbWZXdb^c\VXg^h^h#Ç
6cdca^cZ^cX^YZci"bVcV\ZbZci
hd[ilVgZegd\gVb^hVagZVYn^cjhZ
ViildbVg`Zijc^ihVcYhddcidWZ
^chiVaaZY i]gdj\]dji i]Z :#DC
<gdje# I]Z idda cVbZY ÆEgZkZciÆ
l^aaWZjhZYVhVeaVi[dgb[dg^cX^"
YZci Xg^h^h bVcV\Zgh VcY i]Z^g
iZVbh id VhhZhh ^cX^YZcih! bdc^idg
YZkZadebZcih!VcYh]VgZ^YZVhVcY
ZmeZg^ZcXZh#
ÆI]ZcZlhd[ilVgZZchjgZhi]Vi
ZkZgndcZ bVcV\^c\ djg gZhedchZ
id Vc ^cX^YZci ^h ldg`^c\ l^i] Zm"
VXian i]Z hVbZ ^c[dgbVi^dc!Ç BVX
;]^dccW]V^gghVnh#ÆI]^hVaadlhjhid
bV`Z i]Z g^\]i YZX^h^dch! XddgY^"
cViZ djg VXi^dch! VcY heZV` l^i]
dcZkd^XZiddjgZbeadnZZhVcYd[
XdjghZidi]ZejWa^X#Ç
IdYZVal^i]Vc^cX^YZci!ndj]VkZ
id`cdldcZ]VhiV`ZceaVXZ#Hdi]Z
[^ghihiZe^cZhiVWa^h]^c\VcZ[[ZXi^kZ
Xg^h^h"bVcV\ZbZci dg\Vc^hVi^dc ^h
id ^chi^a Vc ^cX^YZci"gZedgi^c\ Xja"
ijgZ#ÆLZlVciVaaZbeadnZZhidhZZ
i]ZbhZakZhVheVgid[i]ZXg^h^h"bVc"
V\ZbZci Z[[dgi!Ç BVX ;]^dccW]V^gg
hVnh#Æ6cYi]VibZVchgZedgi^c\^cX^"
YZcih g^\]i VlVn! Vcni]^c\ [gdb V
edlZg djiV\Z id V i]gZViZc^c\ gZ"
bVg` bVYZ Wn Vc ^gViZ XjhidbZg#Ç
:beadnZZhl]dWZXdbZVlVgZd[Vc
^cX^YZci! Vc ZbZg\ZcXn dg hdbZ"
i]^c\djid[i]ZdgY^cVgnh]djaYiZaa
i]Z^ghjeZgk^hdg#:bZg\ZcXn]dia^cZh
VgZVkV^aVWaZVibVg`ZiVcYWjh^cZhh
jc^ihVcYhddcVgZedgi^c\[ZVijgZh
^h \d^c\ id WZ VkV^aVWaZ id Vaa Zb"
eadnZZhdcdjg^cigVcZiiddaEgZkZci
Æ6gZ[^cZbZci^cdjgiddaEgZkZciVa"
hd Vaadlh ZbeadnZZh id gZedgi Vc
^cX^YZcidgVg^h`Vcdcnbdjhan!ÇhVnh
BVX;]^dccW]V^gg#
YdiddjgWjh^cZhhVhVl]daZXdjaY
[Vg ZmXZZY i]Z e]nh^XVa YVbV\Z
i]ZnYdidVe^ZXZd[Zfj^ebZci#>c
di]ZgldgYh!hdbZi]^c\i]ViÉh^ch^\"
c^[^XVci [dg djg deZgVi^dch XVc WZ"
XdbZVXg^h^h[dgdjggZejiVi^dc#
IV`ZVgZXZciXVhZ^ckdak^c\[^gZh
i]VidXXjggZYh^bjaiVcZdjhanViild
cjXaZVgeaVcihdeZgViZYWnVcdi]Zg
XdbeVcn# 6ai]dj\] i]Z [^gZh lZgZ
XdbeaZiZanjcgZaViZYVcYcdc"Xg^i^"
XVa!hiViZbZcihWni]ZXdbeVcngZ"
\VgY^c\i]Z[^gZhlZgZe^X`ZYje^c
V bVccZg i]Vi gZhjaiZY ^c V ejWa^X
b^heZgXZei^dc Vh id i]Z^g h^\c^[^"
XVcXZ VcY id ejWa^X YZbVcYh [dg
eaVci XadhjgZh# >c hjX] XVhZh i]Z
Xdhi^ciZgbhd[adhhd[djieji!Xjh"
idbZg \ddYl^aa VcY ejWa^X ^bV\Z
XVccdi WZ jcYZgZhi^bViZY# =ZcXZ
i]ZcZZY[dgXd]ZgZcXZVcYXdch^hi"
ZcXn ^c VeegdVX]^c\ ^cX^YZcih hd
i]Vii]ZnYdcdigZhjai^cXg^hZh#
AZhhdcaZVgcZY
:kZcl^i]i]Zbdhig^\dgdjh^cheZX"
i^dcVcYbV^ciZcVcXZegVXi^XZh!^c"
X^YZcih h^b^aVg id i]Z VWdkZ"bZc"
B^cdgbdYjaViZhidbV_dg
I]ZgZVhdc^i^h^bedgiVciidgZedgi i^dcZY ZmVbeaZ XdjaY ]VeeZc Vi
VcYbdc^idgZkZci]ZhbVaaZhi^cX^" :#DCeaVcih!idd#ÆLZbjhiWZZmigV
YZcih^hi]VihdbZi^bZh!^[i]ZXdc" k^\^aVciZkZc^[lZeZgXZ^kZVc^cX^"
Y^i^dch VgZ g^\]i! i]Z YVbV\Z i]Zn YZci Vh ^ch^\c^[^XVci#Ç >c VYY^i^dc
ÆLZValVnhcZZYidWZgZVYnidVY"
YgZhhejWa^XXdcXZgchid^c[dgbVX"
XjgViZanVcYidVaaVnVcnb^heZgXZe"
ÆDjgbV^ciVh`hVgZidZchjgZi]Vii]ZZci^gZ:#DC<gdje^h
i^dchWZ[dgZi]ZnWZXdbZ^hhjZhd[
Xdbb^iiZYid^begdk^c\VlVgZcZhhVcYegZkZci^dcd[i]Zi]^c\hi]Vi
XdcXZgc VWdji ejWa^X ]ZVai] VcY
XdjaY]jgijhVhVXdbeVcn#Æ6dY]BVX;]^dccW]V^gg
hV[Zin#I]Vi^hl]ViVXg^h^h"egZkZc"
i^dcXjaijgZ^hVaaVWdji#Ç
:#DCLdgaY%)#'%%-
Egd[^aZ&&
LVciZY
IldnZVghV\d!:#DC@gV[ilZg`ZÈh
EgdXjgZbZciYZeVgibZci]VY&%ZbeadnZZh#
Cdl^i]VhbdgZi]Vc*%#6cY^hadd`^c\[dg
bdgZ#>[ndjÈgZ^ciZgZhiZY!XdciVXib^X]VZa#eZacn5Zdc"ZcZg\^Z#Xdb
7ZiiZgh]dee^c\
DkZgi]ZcZmi[ZlnZVgh!:#DC
@gV[ilZg`ZÈhCZl7j^aYJc^il^aaheZcY
W^aa^dchd[ZjgdhidXdchigjXicZl
edlZgeaVcih#I]ViÈhVadid[\ddYhVcY
hZgk^XZhidWZWdj\]i#
6i i]Z WZ\^cc^c\ d[ i]^h nZVg! i]Z CZl 7j^aY Jc^i C7J Vi
:#DC@gV[ilZg`Z:@Lidd`dkZggZhedch^W^a^in[dgbVcV\"
^c\djgegd_ZXihVXgdhh:jgdeZidWj^aYcZl[dhh^a"[jZa"[^gZY
edlZgeaVcih#I]ZC7J[dgbZYildYZeVgibZcih!CZl7j^aY
IZX]cdad\nVcYCZl7j^aYEgdXjgZbZci!idedda^ihiZX]cda"
d\n ZmeZgi^hZ VcY dei^b^hZ egdXjgZbZci#I]Z C7J iZVb ^h
VahdgZhedch^WaZ[dgegdXjgZbZciidbV^ciV^c:@LÉhZm^hi^c\
edlZg eaVcih# >i ]Vh YgVlc dc ^ih ZmeZg^ZcXZ l^i] edlZg
eaVci deZgVi^dch Vh ^i YZh^\ch egdXjgZbZci higViZ\^Zh [dg
cZl"Wj^aYegd_ZXih#
:meZgi^hZ
:@L ]Vh ]VY V XZcigVa egdXjgZbZci YZeVgibZci [dg Z^\]i
nZVgh#=ZVYZYWnB^X]VZaEZacn!i]ZYZeVgibZci^hgZhedch^"
WaZ[dgejgX]Vh^c\ZkZgni]^c\[gdbeVeZgXa^ehidZci^gZijg"
W^cZh# I]Z dcan i]^c\ ^i YdZhcÉi Wjn ^h i]Z [jZa [dg :@LÉh
eaVcih#>ci]ZXjggZcibVg`Zi!^ihW^\\ZhiX]VaaZc\Z^hdWiV^c"
^c\edlZgeaVciXdbedcZcih#HeZX^Va^hZY`cdlaZY\Z^hXg^i^"
XVa! hd ZVX] d[ i]Z ZaZkZc egdXjgZbZci iZVb [dXjhZh dc V
h^c\aZ XdbedcZci ineZ! hjX] Vh Wd^aZgh! ijgW^cZh! dg ]^\]"
egZhhjgZ e^eZ# :VX] iZVb Wg^c\h id\Zi]Zg i]Z ZmeZgi^hZ d[
iZX]cdad\n heZX^Va^hih VcY ejgX]Vh^c\ heZX^Va^hih# 7ZXVjhZ
:#DC]Vhfj^iZV[ZlcZl"Wj^aYegd_ZXih!iZX]cdad\nheZX^Va"
^hihXVc^YZci^[ndeedgijc^i^Zh[dghiVcYVgY^h^c\XdbedcZcih
VXgdhhhZkZgVaegd_ZXih!bV`^c\^iedhh^WaZiddgYZgi]Zb^c
aVg\ZgfjVci^i^ZhVcYi]jhViadlZgeZg"jc^ieg^XZ#
I]ZiZVbY^hXjhhZhVW^Y[dg9Zc^oa^!VcZl"Wj^aYegd_ZXi^cIjg`Zn/6aeZg:h^cd[:#DCI“g`^nZVcY=j^LVc\!egd_ZXiaZVYZg=ZgWZgi
JgWVc!8aVjh"EZiZgHigji]!=ZVYd[EgdXjgZbZciB^X]VZaEZacn!VcY=ZVYd[8ddgY^cVi^dcVcYHigViZ\n@aVjh7ZgcVgYd[:#DC@gV[ilZg`Z#
eZXihd[VcZl"Wj^aYegd_ZXidgl]Zi]ZgidY^k^YZi]Zegd_ZXi
^cid hZkZgVa hjWadih i]Vi i]Z iZVb egdXjgZh [gdb Y^[[ZgZci
hjeea^Zgh^cY^[[ZgZcibVg`Zih#ÆI]^hYZX^h^dc^hVWdjiVX]^Zk"
^c\ i]Z g^\]i WVaVcXZ WZilZZc gZYjX^c\ XdbeaZm^in VcY
bVm^b^h^c\XdbeZi^i^dc!ÇhVnh@aVjh7ZgcVgY!=ZVYd[8ddg"
HigViZ\n
Y^cVi^dc VcY HigViZ\n Vi :@L#Æ6h V gjaZ! i]Z bdgZ hjWadih
7Zh^YZhiZX]cdad\n^hhjZh!i]ZgZVgZdi]ZghigViZ\^XXdch^Y" ndj]VkZ!i]ZbdgZXdbeZi^i^dci]ZgZ^h#7jindjVahd]VkZ
ZgVi^dcha^`Zegd_ZXii^bZa^cZh!ad\^hi^Xh!VcY^ckZcidgn#L^i] bdgZXdcigVXidghVcYhjeea^Zgh^ckdakZY!l]^X]bV`ZhbVc"
i]^h bVcn kVg^VWaZh! egdXjgZbZci d[iZc WZXdbZh ]^\]an V\^c\ i]Z egd_ZXi bdgZ Xdbea^XViZY# LZ ign id YZh^\c i]Z
XdbeaZm# ÆI]ViÉh l]n lZÉgZ ^ckdakZY ^c i]Z YZkZadebZci dei^bVaadihigjXijgZ[dgZVX]^cY^k^YjVaegd_ZXi#Ç
hiV\Z!l]ZgZlZÉgZVagZVYnaVn^c\i]Z[djcYVi^dcd[djgegd"
XjgZbZcihigViZ\n[dgi]Zegd_ZXi!ÇEZacnhVnh#6[iZgXVgZ[jaan BVg`ZiVcVanh^h
VcVanh^c\ i]Z XjggZci bVg`Zi h^ijVi^dc! EZacn bjhi YZX^YZ I]ZbVg`Zi^hi^\]iVcY\Zii^c\i^\]iZg#9ZbVcY^h]j\Z#ÆDc
l]Zi]Zg :#DC ]^gZh V \ZcZgVa XdcigVXidg id ]VcYaZ Vaa Vh" VkZgV\Z! V cZl edlZg eaVci WZXdbZh deZgVi^dcVa ^c 8]^cV
ZkZgnlZZ`#I]ViÉh*'cZledlZgeaVciheZgnZVg!ÇEZacnhVnh#
9ZbVcYdjieVXZhhjeean^cXdbbdY^inbVg`Zih!idd#6h[dg
Zfj^ebZci bVg`Zih! i]ZnÉgZ d[iZc da^\deda^hi^X# ;dg hdbZ
XdbedcZcih! i]ZgZ VgZ ild dg i]gZZ hjeea^Zgh ldgaYl^YZ#
@aVjh7ZgcVgY
DcZd[i]ZiZVbÉhbdhi^bedgiVciiVh`h^hi]ZgZ[dgZid`ZZe
VlViX][jaZnZdci]Zhjeea^ZgbVg`ZiVcYhiVnjeidYViZdc
ÅDkZgi]ZnZVgh!lZÈkZYZ"
kZadeZYVcjbWZgd[kZgn
i]ZaViZhiYZkZadebZcih#L]Vi]VeeZchidYVn^hh]Ve^c\i]Z
Z[[ZXi^kZiddahiddei^b^hZ
bVg`Zih d[ i]Z cZmi hZkZgVa nZVgh#Id hjXXZZY! lZ cdi dcan
VcYhiVcYVgY^hZi]Zegd"
cZZYid`cdli]ZXjggZcibVg`Zih^ijVi^dcWjiVahdWZVWaZ
XjgZbZciegdXZhhZh[dg
idi]^c`hZkZgVabdkZhV]ZVY#
bV^ciV^c^c\edlZgeaVcih
VcYWj^aY^c\cZldcZh#Æ
Hjeea^ZgYZkZadebZci
>iÉhYZ[^c^iZanVhZaaZgÉhbVg`Zi#ÆHdbZeZdeaZVhhjbZi]ViVaa
VgdjcYi]ZldgaYndj_jhi]VkZidbZci^dci]VindjÉgZ[gdb
:#DCVcYi]Zhjeea^Zghl^aaXdb^c\gjcc^c\#>iYdZhcÉildg`
i]Vi lVn#Ç EZacn hVnh# ÆCdi ZkZgndcZ ^c 6h^V dg i]Z Jc^iZY
HiViZh]Vh]ZVgYd[jh#ÇIdgV^hZVlVgZcZhh!i]ZiZVb^hegZ"
eVg^c\VW^\egZhZciVi^dci]Vi^iXVch]dlid6h^Vchjeea^"
B^X]VZaEZacn
ÅIdWZhjXXZhh[ja^cegd"
XjgZbZci!ndj]VkZidWZ
VhhZgi^kZ!fj^X`l^iiZY!VcY
^cYZeZcYZciWjiVahdV
hda^YiZVbeaVnZg#>iÈhV_dW
l]ZgZndjXVcYZ[^c^iZan
]VkZVc^beVXi#Æ
Zgh#:#DC^hadd`^c\[dgcZlhjeea^Zgh#;dgdcZineZd[Xdb"
edcZci!]^\]"egZhhjgZe^eZ!i]ZhZVgX]]VhWZZchjXXZhh[ja/
i]Ze^eZh[dgcZli]ZXdVa"[^gZYjc^ih^c9ViiZacVcYBVVhk"
aV`iZ l^aa! [dg i]Z [^ghi i^bZ! WZ hdjgXZY [gdb i]Z Jc^iZY
HiViZh#
7jibdgZd[iZci]Vccdii]ZiZVb^hadd`^c\[dghjeea^Zgh
l^i]V:jgdeZVcegZhZcXZl]dXVcVahdZchjgZi]ZVkV^aVW^a"
^ind[gZeaVXZbZcieVgih#6cYVhi]ZiZVb\dZh[jgi]ZgVcY
[jgi]Zg V[^ZaY id [^cY hjX] hjeea^Zgh! heZX^Va^hZY aVc\jV\Z
VcY XjaijgVa `cdlaZY\Z WZXdbZh ^cXgZVh^c\an ^bedgiVci#
=j^LVc\![dgZmVbeaZ!hjeedgihi]ZiZVbÉhY^hXjhh^dchl^i]
8]^cZhZhjeea^ZghWji^hVahd!Vadc\l^i]]ZgXdaaZV\jZ6aeZg
:h^c VcY hZkZgVa di]Zgh! gZhedch^WaZ [dg egdXjgZbZci [dg
9Zc^oa^!VcZl"Wj^aYegd_ZXi^cIjg`Zn#I]Z:#DCldgaY^h\Zi"
i^c\bdgZ^ciZgcVi^dcVaVaai]Zi^bZ#
:#DCLdgaY%)#'%%-
&'HeZX^Va
ÅL]ZclZVccdjcXZYi]ZXgZVi^dcd[::I!lZXdc[^gbZY
i]Vii]Zideeg^dg^inldjaYWZidXdci^cjZidhZXjgZ
i]ZZm^hi^c\Wjh^cZhhl]^ahii]ZXdbeaZmb^\gVi^dcegdXZhh
idd`eaVXZ#ÅIdcn8dX`Zg!8:D:#DC:cZg\nIgVY^c\
:#DC:cZg\nIgVY^c\
6ii]Z]ZVgid[i]Z:#DC<gdje
Djg[^ghiigjan^ciZgcVi^dcVadeZgVi^dcdeZcZY[dgWjh^cZhhi]^hnZVg#7jil]Vi^hi]Z
h^\c^[^XVcXZd[XZcigVa^h^c\:#DCÉh:jgdeZVc:cZg\nIgVY^c\VXi^k^i^Zh^ciddcZiZVb46cY
]dl]VkZ^ihZbeadnZZhYZVail^i]gZadXVi^c\idi]ZcZl]ZVYfjVgiZgh^c9“hhZaYdg[4
L]ZcndjhiVcY^ci]Z]ZVgid[i]ZigVY^c\[addgVii]Z
cZl:#DC:cZg\nIgVY^c\::IXZcigZ!^iÉhZVhnid[dg\Zi
fj^iZ]dlbjX]Z[[dgi]VhiV`ZceaVXZWZ]^cYi]ZhXZcZh
idXgZViZi]^hcZlBVg`ZiJc^i#IdYVni]ZgZÉhVgZVaWjoo
idi]ZeaVXZVhYdoZchd[igVYZgh![gdbVaadkZg:jgdeZ!
[^cVa^hZYZVahi]ViXdjaYWZldgi]b^aa^dchd[Zjgdh#NZiVi
i]ZhiVgid[i]^hnZVg!i]^hWj^aY^c\lVhZbein#
IdjcYZghiVcY]dlbjX]]VhWZZcVX]^ZkZY^chjX]
Vh]dgiheVXZd[i^bZ!^iÉh^bedgiVciidjcYZghiVcYi]Z
]^hidgnWZ]^cYZcZg\nigVY^c\^c:#DCVXgdhh:jgdeZ#>c
gZXZci nZVgh! :#DC ]Vh VXfj^gZY cZl Wjh^cZhhZh l^i]
i]Z^gdlcigVY^c\iZVbhl]d]VYiVg\Ziha^c`ZYidad"
XVa\dVahgVi]Zgi]VcdkZgVaa\gdjedW_ZXi^kZh#
;gdb8dkZcignid9“hhZaYdg[
;dgBjggVnGVYZhidX`!kdaVi^a^in^ci]ZZcZg\nbVg`ZihVcYa^[Zdci]Z
cZlZcZg\nigVY^c\[addg^hWdi]X]VaaZc\^c\VcYgZlVgY^c\#Dg^\^cVaan
[gdb6jhigVa^V!]Zldg`ZY[dg:#DCJ@^c8dkZcignWZ[dgZbV`^c\i]Z
bdkZid9“hhZaYdg[^cHZeiZbWZg'%%-l]ZgZ]Zldg`hVhVAZVY[dg"
lVgYh\VhigVYZg#
Ejih^bean!i]Z_dW^ckdakZhV\gZZ^c\idYZa^kZgV\^kZcfjVci^ind[\Vhid
VXa^ZcidkZgV[^mZYeZg^dY^ci]Z[jijgZ!WjiViVeg^XZYZ[^cZY^ci]Z
egZhZci#Æ>ci]ZJ@lZVgZhjeean^c\\VhidVabdhi(b^aa^dcgZh^YZci^Va
XdchjbZghVhlZaaVh^cYjhig^VaXjhidbZghVcYVh^\c^[^XVciedlZg\Zc"
ZgVi^dcedgi[da^d#Ç
Æ>Ébfj^iZXdb[dgiVWaZl^i]i]ZkdaVi^a^in^ci]ZbVg`ZihidYVn!Vhadc\Vh
^iÉhXdbW^cZYl^i]eaZcind[a^fj^Y^in#IgVY^c\^hVaaVWdjiXdbW^c^c\V
b^md[XdjgV\Z!Y^hX^ea^cZVcYeVi^ZcXZl^i]Vh]VgehZchZd[i^b^c\
idWZhi_jY\Zi]Zi^bZidZciZg!]daYdgZm^iVedh^i^dc#Ç
6cYi]ZbV^cX]VaaZc\Zl]Zc^iXdbZhidldg`^c\^ci]ZcZl9“hhZaYdg[
IgVY^c\=ZVYfjVgiZgh4Æ>iÉh^bedgiVciid\ZiV\ddYldg`a^[ZWVaVcXZ#
I]ZbVg`ZihcZkZggZhi!VcYi]ZgZ^hhdbjX]idYd^cVcZldg\Vc^hVi^dc
hdbZi^bZh^iÉh]VgYidVkd^Yi]ZiZbeiVi^dcidldg`adc\]djgh#Ç
;dgijcViZani]Zdc"h^iZ[VX^a^i^ZhbdgZi]VcXdbeZchViZ[dgVWjhnYVn#
ÆI]ZgZhiVjgVci^hYZ[^c^iZanVXjiVWdkZi]ZVkZgV\ZÄVcYl]^ahii]Z
Wj^aY^c\aVndjiiV`ZhVW^id[\Zii^c\jhZYid!V\ddY_dW]VhWZZcYdcZ
d[XdckZgi^c\^i^cidVheVX^djh!egVXi^XVaVcYedh^i^kZigVY^c\Zck^gdc"
bZci#Ç
>cVYY^i^dc!igVY^c\idd`eaVXZl^i]^cadXVabVg`Zih
VcYiZVbhlZgZjcVWaZidiV`Z[jaaVYkVciV\Zd[ZXdc"
db^Zhd[hXVaZVkV^aVWaZi]gdj\]:#DCÉhhigdc\:jgdeZ"
Vc edgi[da^d#I]^h VggVc\ZbZci Vahd ]VY Vc ^beVXi dc
gZXgj^ibZciVcYVii^bZh^ilVhVX]VaaZc\ZidViigVXi!
YZkZade VcY gZiV^c ide igVY^c\ iVaZci ^c hbVaa adXVa
jc^ih#
I]ZYZX^h^dcdceVeZghZZbZYad\^XVa#Jc^iZVaa:jgd"
eZVcigVY^c\deZgVi^dch^cXajY^c\edlZg!\Vh!XdVa!d^a
VcY XVgWdc ^cid dcZ [dXjhZY :cZg\nIgVY^c\ Wjh^cZhh
VYYgZhh^c\i]ZcZZYhd[^ciZgcVaVcYZmiZgcVaXjhidb"
ZghVaadkZg:jgdeZ#HVnhIdcn8dX`Zg!8:D!::I/Æ6hi]Z
bVg`Zi Zck^gdcbZci ]Vh X]Vc\ZY! hd ]Vh djg igVY^c\
Wjh^cZhh# LZ gZXd\c^hZY V \ddY deedgijc^in id jc^iZ
djg:jgdeZVciVaZciVcYldg`VXgdhh^ciZgcVi^dcVaWdg"
YZgh[gdbVXZcigVad[[^XZ#Ç
Bdk^c\id9“hhZaYdg[
I]ZX]d^XZd[adXVi^dc!i]Zldg`eaVXZ[dghdbZ,%%Zb"
eadnZZh [gdb VXgdhh :jgdeZ! lVh iV`Zc kZgn XVgZ[jaan#
8dccZXi^k^inidZm^hi^c\igVY^c\jc^ihlVhV`ZnXdch^Y"
ZgVi^dc# 6ai]dj\] bdhi igVY^c\ VXi^k^i^Zh cdl iV`Z
eaVXZ^c9“hhZaYdg[!::IVahdgZiV^chhbVaaadXVahViZaa^iZ
iZVbh^cX^i^Zh^cXajY^c\8dkZcign!Bjc^X]!BVabŽVcY
GdiiZgYVb l]ZgZ Y^heViX]^c\ iZVbh a^V^hZ l^i] adXVa
:#DCedlZghiVi^dch#
DcZd[i]ZbVcn^bedgiVci[VXidgh^ci]^hXdbeaZm
VcY \gdjcYWgZV`^c\ deZgVi^dc lVh i]Z lZaaWZ^c\ d[
i]Z ZbeadnZZh l]Zc i]Zn lZgZ gZadXViZY id 9“hhZa"
Ydg[#7ZVg^c\^cb^cYi]Vii]^hl^aaZkZcijVaan^ckdakZ
hdbZ ,%% ^cY^k^YjVah VcY i]Z^g [Vb^a^Zh! i]^h lVh Vc
deZgVi^dcdcVkVhihXVaZ#HVnhGd\ZgHigVcYV]a!9^gZX"
idg d[ 8dbbjc^XVi^dch Vi ::I/ ÆDjg VhhZih VgZ djg
eZdeaZ#Hjeedgi^c\djgZbeadnZZh]VhWZZc`Zn[gdb
i]Z kZgn [^ghi Xdbbjc^XVi^dch! id ^ciZ\gVi^dc ^c^i^V"
i^kZhdcXZXdaaZV\jZhVcYi]Z^g[Vb^a^Zh]VYVgg^kZY^c
9“hhZaYdg[#Ç
6cY i]Z cZl Vgg^kVah h]djaY [ZZa Vi ]dbZ ^c i]Z^g
cZlWj^aY^c\#I]Z^ciZg^dgd[i]Zhig^`^c\\aVhhVcYgZY"
[gdciZY::I]ZVYfjVgiZgh]VhWZZcejgedhZan[^iiZYdji
[dg V igVY^c\ Wjh^cZhh# 6 lViZg"WVhZY Xdda^c\ hnhiZb
[adlh^ck^h^WanWZcZVi]adc\a^cZhd[igVYZgYZh`hZchjg"
^c\i]Vii]Z]ZVi\ZcZgViZYWni]ZZaZXig^XVaZfj^ebZci
^h`ZeiidVb^c^bjb#I]ZigVY^c\[addghi]ZbhZakZhZm"
iZcYYdoZchd[bZigZh^cZkZgnY^gZXi^dc!l]^X]ZchjgZh
i]Vi eZdeaZ! Vh lZaa Vh ^c[dgbVi^dc! XVc bdkZ ZVh^an
[gdbdcZed^ciidVcdi]Zg#
Æ>i lVh ^bedgiVci id cjgijgZ V XdaaVWdgVi^kZ Ve"
egdVX]^ci]ZcZlWj^aY^c\!ÇhVnh8dX`Zg!l]dYdZhcdi
]VkZ]^hdlceg^kViZd[[^XZWjih^ih^cVcdeZceaVcZc"
k^gdcbZci a^`Z ZkZgndcZ ZahZ ^c ::I# ÆLZÉkZ ^chiVaaZY
gZigVXiVWaZ [^gZ Yddgh VcY ^cigdYjXZY cZl hiV^gXVhZh
XdccZXi^c\ i]Z [addgh Ä Vaa l^i] i]Z V^b d[ ^cXgZVh^c\
deZccZhhVcYV^Y^c\i]Z[gZZ"[adld[^c[dgbVi^dc#Ç>c"
[dgbVabZZi^c\heVXZh!VedejaVggZhiVjgVciVcYXd[[ZZ
WVg!VXdc[ZgZcXZXZcigZVcYV[^icZhhXZcigZXdbeaZiZ
i]Ze^XijgZ#
:cZg\ndci]Z[addg
?jhiV[Zlbdci]hh^cXZi]Z[^ghiigVYZlVhXdbeaZiZY
^ci]ZcZld[[^XZ^c?jani]^hnZVg!^iÉhZVhnid[ZZai]Z
ZcZg\n ^c i]Z cZl Wj^aY^c\#I]Z l^hYdb d[ X]ddh^c\
VcdeZceaVcVeegdVX]WZXdbZhVeeVgZciVhndjhZZ
i]ZigVY^c\[addgh!l]^X]Wg^c\idb^cYV[jijg^hi^XV^g"
igV[[^X Xdcigda XZcigZ# >cY^k^YjVa igVYZgh h^i Vi aVg\Z
YZh`h! l]^X] XVc WZ ]dbZ id Vh bVcn Vh h^m [aVi
hXgZZchY^heaVn^c\X]Vgihl^i]je"id"i]Z"b^cjiZbVg"
`Zieg^XZh#I]ZZbeadnZZhd[::IVgZVY^kZghZ\gdje
:#DCLdgaY%)#'%%-
HeZX^Va&(
LVci
id`cdlbdgZ46cZlZAZVgc^c\
bdYjaZ^hVkV^aVWaZ^ci]Za^WgVgnd[
6XVYZbnDca^cZÃ[dgVcndcZ
l^h]^c\id[^cYdjibdgZVWdjiZcZg\nigVY^c\#
l^i] HlZYZh! <ZgbVch! 9jiX]! 7g^i^h]! >iVa^Vch VcY
6jhigVa^Vch Vbdc\ Vabdhi )% Y^[[ZgZci cVi^dcVa^i^Zh#
H^ii^c\Vadc\h^YZdcZVcdi]Zg^ci]^hdeZceaVcd[[^XZ
VgZZmeZgih^ci]Z[^ZaYhd[G^h`!AZ\Va!>I!;^cVcXZVcY
BVg`Zi6cVanh^hÄVaa`Znhjeedgi[jcXi^dch[dgVIgVY"
^c\Wjh^cZhh#6cYl]ZcndjheZV`idi]Zb!^iÉhXaZVg
i]Vi [dg bdhi! i]Z YZX^h^dc id gZadXViZ id 9“hhZaYdg[
gZegZhZciZY V [VciVhi^X deedgijc^in hZZ i]Z^g Xdb"
bZcihdci]^heV\Z#
7ZndcYi]Zldg`eaVXZ!i]Z::I=GVcY8dbbjc^XV"
i^dch iZVbh ]VkZ \dcZ i]Z ZmigV b^aZ id bV`Z hjgZ
ZkZgndcZ [ZZah Vi ]dbZ Wn dg\Vc^h^c\ bdci]an lZa"
XdbZZkZcihl]ZgZeZdeaZ\ZiVX]VcXZidbZZii]Z^g
cZlXdaaZV\jZh^cVgZaVmZY!^c[dgbVaZck^gdcbZci#>c
VYY^i^dc!ZbeadnZZhXVcVahdiV`ZVYkVciV\Zd[^ciZg"
XjaijgVa igV^c^c\ VcY aVc\jV\Z aZhhdch id ]Zae i]Zb
hZiiaZ^cidi]^hcZl^ciZgcVi^dcVaVcY:c\a^h]"heZV`^c\
Wjh^cZhhl]ZgZZkZgndcZ^hdc[^ghi"cVbZiZgbh#
H^\c^[^XVciZ[[dgi]VhVahdWZZcbVYZid]Zae[Vb^an
bZbWZgh[^cYi]Z^g[ZZi#8VgZZghVYk^XZ^hVkV^aVWaZid
l^kZh!]jhWVcYhVcYeVgicZgh!l]^aZ::IVahd]Zaeh[^cY
hj^iVWaZhX]ddahVcYXdaaZ\Zh[dgi]Z^gX]^aYgZc#
Ldg`^c\[dgi]Z[jijgZ
Hdl]ViVgZ::IÉh\dVahdkZgi]ZcZmi[ZlnZVgh49jg^c\
'%%-! i]Z dW_ZXi^kZ lVh XaZVg# HZXjgZ i]Z deZgVi^dcVa
Wjh^cZhhl]^ahibV`^c\i]ZigVch^i^dcidi]ZcZligVY"
^c\ ]ZVYfjVgiZgh# 7ZilZZc '%%. VcY '%&%! i]Z dW_ZX"
i^kZ^hidXdchda^YViZhnhiZbhVcYegdXZhhZhVcYhiVgi
idVYYhjWhiVci^VakVajZidi]Z\gdje#
HVnh8dX`Zg/ÆLZl^aadeZgViZl^i]Vh^c\aZk^Zldc
VaadjgbVg`ZihVcYVhhZihVcYWZVWaZidiV`ZVYkVc"
iV\Zd[edlZgVcY\VhXdckZg\ZcXZVcYgZ\^dcVaXdc"
kZg\ZcXZ![dgZmVbeaZÇ#I]ZbVcV\ZbZcid[g^h`^hVahd
Xg^i^XVa#ÆLZl^aa]VkZVc^ciZ\gViZYk^ZlVcYVXdch^hi"
Zcig^h`VcY]ZY\^c\higViZ\n[dgi]Zl]daZ:#DCVhhZi
edgi[da^d#>il^aaVahd]Zaejh^begdkZegd[^i[gdbegdeg^"
ZiVgnigVY^c\!bV`^c\i]Zbdhid[djgVhhZi`cdlaZY\Z
VcYjcYZghiVcY^c\d[:jgdeZVcZcZg\nbVg`Zi[jcYV"
bZciVah#Ç
G^h^c\idi]ZX]VaaZc\Z
Dcided[Vaad[i]^h!i]ZcZldg\Vc^hVi^dcgZegZhZcihV
h^\c^[^XVciVcY edh^i^kZ YZeVgijgZ [dg i]Z:#DC <gdje
WnWZXdb^c\i]Z[^ghiXZcigVa^hZY![jcXi^dcVa:jgdeZVc
BVg`Zi Jc^i# I]Z [^cVa ldgY [gdb 8dX`Zg hjbh ^i je#
ÆI]^h hiVgiZY dji Vh V aVg\Z VcY XdbeaZm egd_ZXi# LZ
]VkZ XgZViZY :DCÉh [^ghi igjan ^ciZgcVi^dcVa Wjh^cZhh!
XZcigVa^h^c\ VXi^k^i^Zh [gdb VXgdhh bVcn :jgdeZVc
Xdjcig^Zh#I]Z l]daZ iZVb ]Vh g^hZc id i]Z X]VaaZc\Z
VcYlZVgZXdc[^YZciVWdjii]ZgdVYV]ZVY#D[XdjghZ
i]ZgZl^aaWZWjbehVcYWZcYhÄ^ildcÉiWZhigV^\]i[dg"
lVgYÄWjilZl^aa\ddkZgVcYgdjcYi]ZbidVX]^ZkZ
djgiVg\Zi#Ç
;gdbGdiiZgYVbid9“hhZaYdg[
9dcViV@deeZ_Vc]VYcd]Zh^iVi^dcl]Zch]ZlVh\^kZci]Zdeedgijc^in
id_d^c::I^c9“hhZaYdg[#Æ>lVhZmX^iZYVii]ZegdheZXid[i]ZbdkZVcY
ZheZX^Vaani]ZX]VcXZidWgdVYZcbn]dg^odchVcYaZVgcbdgZVWdji
Xgdhh"XdbbdY^inigVY^c\#Ç
6gZXZcijc^kZgh^in\gVYjViZ!9dcViVdg^\^cVaanldg`ZY^cGdiiZgYVbVcY
cdlldg`h^c9“hhZaYdg[l]ZgZh]Z[dXjhZhdcZaZXig^X^inigVY^c\^ci]Z
7ZcZajmgZ\^dc#ÆBdk^c\[gdb=daaVcYid<ZgbVcnlVhVc^bedgiVcihiZe!
Wjil]Zc^iXdbZhidVine^XVaYVnd[igVY^c\!hdbZi]^c\hYdcÉiX]Vc\Z!
ZheZX^Vaani]ZcZZYid[dXjhdcZkZcih^ci]ZldgaYZXdcdbnl]^X]V[[ZXi
djgbVg`Zih#Ç
ÆI]ZYVnhiVgihVi,#(%l]Zc>gZVYi]ZcZlhVWdjii]ZedlZgbVg`Zih#6h
edlZgeg^XZhVgZV[[ZXiZYWnXdbbdY^i^Zhl]^X]VgZWZ^c\igVYZYldgaY"
l^YZ!^iÉh^bedgiVciidXViX]jel^i]l]Vi]Vh]VeeZcZYdkZgc^\]i#>jhZ
iZX]c^XVaX]Vgi^c\VcVanh^hidY^hXdkZgeg^XZeViiZgchVcYigZcYhVcYign
id[dgbVcde^c^dcVWdjil]^X]Y^gZXi^dcedlZgeg^XZhbVniV`Z#6Wdji
]Va[Vc]djgaViZg!i]Zeg^XZh]^ibnhXgZZcVcY>gZk^ZlbnjeYViZYedh^"
i^dchVcYegZeVgZVeaVcl]^X]>l^aabdY^[nYjg^c\i]ZYVnVXXdgY^c\id
i]ZaViZhibVg`ZiX]Vc\Zh#LZVgZ^cXgZVh^c\anhZZ^c\]dlcZlhVWdji
ZXdcdb^XXdcY^i^dchXVcZVh^an^c[ajZcXZi]Zd^aeg^XZl]^X]V[[ZXihi]Z
ZaZXig^X^ineg^XZ#Ç
7jii]^h^hl]VibV`Zhi]Zldg`hdhVi^h[n^c\#Æ>iÉhVYZbVcY^c\_dWi]Vi
X]VaaZc\ZhbZ^ciZaaZXijVaan!VcYi]ViÉhl]Vi>Zc_dn#6aai]Zi^bZndjcZZY
idjcYZghiVcYi]ZbVg`Zi#>i^hcdi_jhiVWdjii]ZedlZgbVg`Zi!^i^h
VWdjiVaai]ZjcYZgan^c\XdbbdY^i^Zhl]^X]VgZjhZYidegdYjXZi]^h
edlZg#6aai]ZbVg`ZihVgZ^ciZgXdccZXiZY!XdVa!d^a!\Vh!VcY8D'!YZiZg"
b^cZi]ZW^\\Zge^XijgZ#
7g^c\^c\igVYZghid\Zi]Zg^c9“hhZaYdg[]Vh]ZaeZY9dcViV[jgi]ZgYZkZa"
de]Zg`cdlaZY\Zd[i]ZhZY^hX^ea^cZh#Æ>iÉhhd^bedgiVciidhiVnjeidYViZ
l^i]di]ZgbVg`Zih#I]Zh^beaZ[VXid[ldg`^c\Y^gZXianl^i]eZdeaZl]d
]VkZi]^hZmeZgi^hZbV`ZhVgZVaXdcig^Wji^dcidlVgYhbndlcbVg"
`Zi`cdlaZY\ZVcY\dVah#Ç
Je"id"i]Z"b^cjiZ
bVg`Zi^c[dgbV"
i^dc^hXg^i^XVa
[dg:#DCÇhZcZg\n
igVYZgh#
:#DCLdgaY%)#'%%-
&):migVh
8G
I]Zi]^gY^ciZgcVi^dcVa8GXdc[ZgZcXZlVh]ZaY^c7Zga^ci]^hDXidWZg#
:#DClVhi]ZZkZciÈhbV^chedchdg!aZcY^c\^ihhjeedgiiddcZd[i]ZldgaYÈh
bdhi^bedgiVciY^hXjhh^dc[dgjbh[dg8GVXVYZb^XhVcYegd[Zhh^dcVahVcY
i]Zdcan^ciZgcVi^dcVa8GgZhZVgX]eaVi[dgb#
;^kZfjZhi^dch###
:g^X9ZeajZi!:#DCÈh8]^Z[GZhedch^W^a^inD[[^XZg!iVa`hidjhVWdji
XdgedgViZgZhedch^W^a^inVi:#DC#
<gdl^c\
id\Zi]Zg
I]Z:#DCIgV^cZZ<VbZ[dhiZghiZVb
he^g^iVcYZmeVcYh]dg^odch#
=dlbVcneZdeaZldg`Vii]Z:#DC
<gdje4L]ViVgZi]ZDcZ:#DCkVajZh
VcYWZ]Vk^djgh4L]ViÉhdjgXdgedgViZ
Xdadjg4I]ZhZVgZ_jhihdbZd[i]Z
bVcnfjZhi^dchVh`ZYVii]^hnZVgÉh
:#DCIgV^cZZ<VbZ!]ZaY^cHZeiZb"
WZg^cL^ZhWVYZc!<ZgbVcn#>cVYY^"
i^dcidiV`^c\i]Z:#DCfj^o!i]ZeVg"
i^X^eVcihVahdeddaZYi]Z^giVaZcihid
lg^iZVc:#DCedZbVcYVc:#DC
hdc\!VXi^k^i^Zhi]VilZgZedejaVg
l^i]i]ZigV^cZZhVcYfj^X`an[dg\ZYV
hZchZd[\gdje^YZci^in#
6cYi]ViÉhegZX^hZanl]Vi:#DC6<
VcY:#DCGj]g\Vh]VY^cb^cYl]Zc
i]ZnaVjcX]ZYi]ZVccjVaZkZci^c
'%%+/id\^kZigV^cZZh^ch^\]ih^cid
:#DCÉhY^[[ZgZciWjh^cZhhVgZVhVcY
ZcVWaZi]ZbidhiVgiWj^aY^c\VcZi"
ldg`d[XdciVXih#IldnZVghVcYi]gZZ
ZkZcihaViZg!i]Z^c^i^Vidgh!:#DC6<Éh
6ccZ?jX]]Z^bVcY:#DCGj]g\VhÉh
?Vc^cZ7g^c`]d[Zg!VgZkZgneaZVhZY/
ÆI]ZcjbWZgd[eVgi^X^eVcih]VhYdj"
WaZYid.%#LZÉkZ]VYgZegZhZciVi^kZh
[gdbc^cZbVg`ZiVcYWjh^cZhhjc^ih#
6XXdgY^c\idi]Z[ZZYWVX`[gdbeVg"
i^X^eVcih!i]Zfj^oVcYi]ZiZVb"Wj^aY"
^c\ZmZgX^hZh]VkZiVj\]ii]ZbbdgZ
VWdji:#DCVcYVWdjii]ZY^[[ZgZci
XVgZZgeVi]hi]ZnXdjaYiV`Z#Ç
Bdi^kViZY[dgi]Z[jijgZ
I]Z:#DCIgV^cZZ<VbZ^hVcZmVbeaZ
d[]dli]ZcZmi\ZcZgVi^dcd[Zb"
eadnZZh^hZbWgVX^c\DcZ:#DC#EVgi^X"
^eVcihVii]^hnZVgÉhZkZci^cXajYZY
[jijgZeaVcideZgVidgh!VXXdjci^c\
XaZg`h!Xdd`h!VcYXdbejiZgiZX]c^"
X^Vch#ÆI]Znh]VgZY^YZVh!a^hiZcZYid
ZVX]di]Zg!VcYidd`YZX^h^dchid\Zi]"
Zg#I]ZnVaaeZg[dgbZYi]ZiVh`h^b"
egZhh^kZanVcYedhiZYkZgn\ddY
hXdgZh!Ç?jX]]Z^bgZedgih#
I]ZZkZci!l]^X]ldcVDcZ:#DC
6lVgY^c'%%+!^h\gdl^c\^cedejaVg^"
in/ÆLZÉgZXdciVXiZYi]gdj\]djii]Z
nZVgWnigV^cZZhl]dÉkZgZVYVWdji
i]Z\VbZVcYlVciideVgi^X^eViZ^c
i]ZcZmidcZ!Ç?jX]]Z^bhVnh!VYY^c\
i]ViÆi]ZDcZ:#DCiZVb]VhWZZcV
W^\]Zae#L^i]djii]Z^ghjeedgi!i]^h
egd_ZXildjaYcÉi]VkZWZZcedhh^WaZ#Ç
:cZg\n V[[ZXih eZdeaZÉh a^kZh ^c V W^\ lVn#
6cY Vh i]Z ldgaYÉh aVg\Zhi ^ckZhidg"dlcZY
edlZg VcY \Vh XdbeVcn! :#DC ]Vh V hjW"
hiVci^Va ^c[ajZcXZ dc i]Z Zck^gdcbZci! i]Z
ZXdcdbn!VcYi]ZfjVa^ind[a^[Z^ci]ZXdb"
bjc^i^Zh VcY gZ\^dch l]ZgZ lZ deZgViZ#
8dgedgViZ gZhedch^W^a^in 8G ^h V `Zn ^hhjZ
[dgWjh^cZhhZhVcYhdX^ZinVhVl]daZ#Eda^"
XnbV`Zgh! i]Z bZY^V! cdc\dkZgcbZciVa dg"
\Vc^hVi^dch! VcY XdchjbZgh ZmeZXi XdbeV"
c^Zh id WZ \ddY XdgedgViZ X^i^oZch# L]Vi
YdZh i]Vi bZVc [dg :#DC4 LZ Vh`ZY [^kZ
fjZhi^dch d[ :g^X 9ZeajZi! :#DCÉh 8]^Z[ GZ"
hedch^W^a^inD[[^XZg#
=dl Yd ndj bZVhjgZ V XdbeVcnÈh 8G eZg"
[dgbVcXZ4
9ZeajZi/:kVajVi^c\8GeZg[dgbVcXZjhZYid
WZaVg\ZanVcZXYdiVa#7jicdli]ZgZVgZZh"
iVWa^h]ZYXg^iZg^V[dgWZ^c\^cXajYZY^c^cY^"
XZh dg gZXZ^k^c\ Y^[[ZgZci ineZh d[ XZgi^[^XV"
i^dc#;dgZmVbeaZ!:#DC^h^ci]Z9dl?dcZh
HjhiV^cVW^a^in >cYZm jcY ^c i]Z 8VgWdc 9^h"
XadhjgZ AZVYZgh]^e >cYZm# >cYZeZcYZci hjg"
kZnh]VkZgVc`ZYhdbZd[djgXdbeVc^ZhVh
ideZbeadnZgh#LZVahd]VkZdjgdlchiVcY"
VgYh Wn l]^X] lZ \Vj\Z ]dl lZÉgZ Yd^c\#
DcZ hjX] hiVcYVgY ^h adhi i^bZ ^c_jgn [gZ"
fjZcXn!l]^X]lZjhZidXdbeVgZdjgXdb"
eVc^ZhÉhV[ZineZg[dgbVcXZ#
ediZci^VaidbZZii]ZX]VaaZc\Zhi]VilZVaa
[VXZ#EZdeaZYZbVcYbdgZVcYbdgZd[Zc"
Zg\nXdbeVc^Zh#I]ZnZmeZXijhid]Zaeegd"
>hcÈi8GVWdji[^cY^c\VWVaVcXZWZilZZcWZ^c\ iZXii]ZZck^gdcbZciVcYi]ZZVgi]ÉhXa^bViZ!
egd[^iVWaZVcY]Vk^c\V\ddYejWa^X^bV\Z4
YZa^kZgZcZg\nhZXjg^in!VcYbV`Za^[ZWZiiZg
9ZeajZi/:hI]ViÉhVXdbbdcb^hXdcXZei^dc# ^c i]Z Xdbbjc^i^Zh l]ZgZ lZ deZgViZ# 6aa
LZÉgZXZgiV^cancdiign^c\idWjnV\ddYejW" :#DCXdbeVc^Zh]VkZidVYYgZhhi]ZhZVcY
a^X ^bV\Z i]gdj\] XdgedgViZ aVg\ZhhZ# LZ di]Zg`Zn^hhjZh#
add`kZgnXVgZ[jaanViegd\gVbbZhVcYdcan
hjeedgii]ZdcZhi]VibV`ZhZchZ[dgjhVcY NdjÉkZ YZ[^cZY [aV\h]^e egd_ZXih# L]Vi
i]Vi l^aa WZcZ[^i jh ^c i]Z bZY^jb dg adc\ egd\gZhhVgZi]ZnbV`^c\4
iZgb# >iÉh igjZ! i]dj\]! i]Vi ]Vk^c\ V \ddY 9ZeajZi/9Vh>cDXidWZglZh^\cZYVcV\gZZ"
^bV\ZbV`Zh^iZVh^Zgid\V^cejWa^Xhjeedgi bZci[dgdjg<ZgbVc[aV\h]^eegd_ZXil]^X]
[dg i]^c\h a^`Z Wj^aY^c\ cZl edlZg eaVcih# ^heVgid[djg<gdjel^YZ:cZg\n;dg8]^aYgZc
BniZVbÉhgdaZ^hidXddgY^cViZVcYXdbbj" ^c^i^Vi^kZ#LZÉkZeVgicZgZYl^i]6CJ!Vc^cYZ"
c^XViZ :#DCÉh 8G VXi^k^i^Zh hd lZ Ä VcY djg eZcYZci dg\Vc^hVi^dc i]Vi egdbdiZh cVijgZ
hiV`Z]daYZghÄYZg^kZi]ZbVm^bjbWZcZ[^i VcY Zck^gdcbZciVa ZYjXVi^dc! id XgZViZ V
cdc"egd[^iegd_ZXiXdbeVcni]Vil^aaYZkZade
[gdbi]Zb#
egd\gVbbZhVcYbViZg^Vah[dgiZVX]^c\egZ"
8G Vahd ]Vh id Yd l^i] XjaijgZ# =dl Yd lZ hX]dda X]^aYgZc ]dl id jhZ ZcZg\n gZhedch^"
[dhiZgVh]VgZYjcYZghiVcY^c\d[8G^cVc^c" WanVcY]ZaeegdiZXii]ZZck^gdcbZci#H^b^aVg
iZgcVi^dcVa XdbeVcn i]Vi deZgViZh ^c bVcn ^c^i^Vi^kZh VgZ d[[ id V \ddY hiVgi ^c di]Zg
Y^[[ZgZciXdjcig^ZhVcYXjaijgZh4
Xdjcig^Zh#7jilZÉgZVahdiV`^c\VXi^dc^ch^YZ
9ZeajZi/ LZcc Djg XdbeVcnÉh Y^kZgh^in VX" djgXdbeVcn#;dgZmVbeaZ!lZÉkZZhiVWa^h]ZY
ijVaanZcg^X]Zhdjg8GZ[[dgi#LZaZVgc[gdb gZhedch^WaZ egdXjgZbZci gjaZh i]Vi Xdbean
ZVX]di]ZgVcY!Wnldg`^c\id\Zi]Zg!\ZcZg" l^i]i]ZJc^iZYCVi^dch<adWVa8dbeVXi#LZ
ViZ^YZVhlZldjaYcÉi]VkZXdbZjel^i]^c eaZY\Z Ä VcY lZ gZfj^gZ djg hjeea^Zgh id
V h^c\aZ Xdjcign# LZ aZkZgV\Z i]^h XgZVi^kZ eaZY\ZÄidXdbWViX]^aYaVWdjgVcYY^hXg^b^"
cVi^dc! id gZYjXZ g^h`h id i]Z Zck^gdcbZci!
VcYidbV^ciV^cVcjbWZgd[di]ZghdX^VaVcY
Zck^gdcbZciVahiVcYVgYh#
:ck^gdcbZciVa8]Vbe^dchlVhgdaaZYdji\gdje"
l^YZ^cZVganCdkZbWZg#L]ViÈh^ihejgedhZ4
9ZeajZi/LZÉkZhZZci]Zedh^i^kZ^beVXii]Z
egd\gVbbZ]Vh]VYVi:#DCJ@!l]ZgZ^i]Vh
X]Vc\ZY ZbeadnZZhÉ Vii^ijYZh idlVgYh Zc"
Zg\njhV\ZVildg`VcYVi]dbZVcY]ZaeZY
i]Z XdbeVcn gZYjXZ ^ih ZcZg\n Xdhih VcY
XVgWdc [ddieg^ci# I]ZnÉkZ gZYjXZY d[[^XZ
ZaZXig^X^in VcY lViZg Xdchjbei^dc VcY ^c"
XgZVhZY i]Z Vbdjci d[ lVhiZ i]Zn gZXnXaZ#
Cdl!:ck^gdcbZciVa8]Vbe^dchVXgdhh:#DC
l^aa WZ VYYgZhh^c\ i]ZhZ VcY h^b^aVg ^hhjZh
Vii]Z^gXdbeVc^Zh#I]ZbVg`Zijc^ihXVcYZ"
X^YZ [gdb V bZcj d[ dei^dch i]Z dcZh i]Vi
bV`ZhZchZ[dgi]Zb#I]ZnXVcdg\Vc^hZXVg"
h]Vg^c\ egd\gVbbZh! XdcYjXi ZcZg\n VcY
gZhdjgXZ VjY^ih Vi i]Z^g [VX^a^i^Zh! egdbdiZ
i]ZjhZd[k^YZdXdc[ZgZcXZhVhVlVnidgZ"
YjXZ Wjh^cZhh igVkZa! dg YZkZade i]Z^g dlc
WZhi egVXi^XZh [dg gZYjX^c\ i]Z^g Zck^gdc"
bZciVa^beVXi#
8GD:g^X9ZeajZidkZghZZh:#DCÈh
XdgedgViZgZhedch^W^a^inZ[[dgi#
:#DCLdgaY%)#'%%-
:migVh&*
>[i]Ze^adiegd_ZXi^hVhjXXZhh!eaVchXVaa[dg
XdgedgViZWad\hidWZ^cigdYjXZY<gdjel^YZ^c
ZVgan'%%.#I]Ze^adiWad\hXVcWZVXXZhhZYWnVaa
ZbeadnZZhVi]iieh/$$Wad\#^cigVcZi#Zdc#Xdb
IZaajh
]dllZÈgZ
Yd^c\
EZg]VehhdbZ
:#DCWad\\Zghl^aa
]VkZVhjXXZhh
hidgnh^b^aVgid
i]Vid[EVja@gj\"
bVc!CdWZaAVjgZ"
ViZ^cZXdcdb^Xh
VcYi]ZldgaYÈh
bdhi[VbdjhWad\"
\Zg!l]dhZedhi"
^c\h]VkZVXjai
[daadl^c\^ci]Z
Jc^iZYHiViZh#
:#DC>H\Zih\ddYbVg`h^cXjhidbZghjgkZn
CZVganVaad[jhjhZ>IZkZgnYVn#>[^ildg`h!lZYdcÉi\gjbWaZ#
7ji l]Zc lZ [^cY djghZakZh add`^c\ Vi Zggdg bZhhV\Zh ^c"
hiZVYd[ZbV^ah!lZgZVX][dgi]Z:#DC>H]Zaea^cZ#=Zaea^cZ
hjeedgi^hcÉidjg>IhZgk^XZegdk^YZgÉhdcangZhedch^W^a^in!Wji
^i^hi]ZdcZ[dgl]^X]^igZXZ^kZhi]ZbdhiY^gZXi[ZZYWVX`#Id
[^cY dji ]dl ^iÉh Yd^c\ ^c i]^h VcY ^c di]Zg VgZVh! :#DC >H
XdcYjXihXjhidbZghjgkZnh#GZXZcian!^iVh`ZY-':#DCXdb"
eVc^Zh^c<ZgbVcn!HlZYZc!i]Z8oZX]GZejWa^X!i]ZJc^iZY
@^c\Ydb!VcY=jc\VgnidgViZ^iheZg[dgbVcXZ^c[VjaibVc"
V\ZbZci! W^aa^c\! >I egd_ZXi bVcV\ZbZci! bVg`Zi^c\! VcY
Xdbbjc^XVi^dch# :#DC >H ZbZg\ZY l^i] Vc dkZgVaa hXdgZ d[
'#)&2ZmXZaaZci!+2eddg#
7ad\\^c\WZ\^ch
IZhiegd_ZXi
ViildbVg`Zijc^ih
7ad\hhZgkZVh[dgjbh[dgi]Zhl^[iZmX]Vc\Zd[^c[dgbVi^dcVcYde^c^dch#>c
Vc^cigVcZie^adiegd_ZXi!:#DC^hiZhi^c\Wad\hVhVcZlbZY^jb[dg^ciZgcVa
Xdbbjc^XVi^dch#
?jhi b^cjiZh V[iZg V Wad\ Wn ?^b
A^\]i[ddi!BVcV\^c\9^gZXidgd[:#DC
J@ hjWh^Y^Vgn 8ZcigVa CZildg`h!
lZci dca^cZ! &( XdaaZV\jZh gZhedcY"
ZY#L]VilVhi]Zide^X4I]Z[jijgZd[
i]Z ZcZg\n hjeean hnhiZb! djg Xdb"
eVcnÉhgZhedch^W^a^i^Zh!VcYi]ZX]Va"
aZc\ZhV]ZVY#
>caViZDXidWZg!:#DC:cZg\^ZVcY
:#DC J@ aVjcX]ZY e^adi egd_ZXih id
iZhi Wad\\^c\ dc i]Z^g XdbeVcn ^c"
igVcZih#ÆI]ZV^b^hid[dhiZgV\Zcj"
^cZY^Vad\jZ^cl]^X]ZkZgndcZ!bVc"
V\Zgh VcY ZbeadnZZh Va^`Z! XVc eVg"
i^X^eViZ!Ç hVnh Egd_ZXi aZVYZg BVg`jh
IZjWZgd[:#DC:cZg\^Z#6ii]Zegd_ZXi
iZVbÉh gZfjZhi! :#DC :cZg\^Z 8:D
@aVjh"9^ZiZg BVjWVX] idd` eVgi ^c
i]Z e^adi e]VhZ! gZhedcY^c\ id Zb"
eadnZZ Wad\h VcY hiVgi^c\ V [Zl d[
]^hdlc#DcZd[BVjWVX]ÉhlVhVWdji
i]Z ejWa^XÉh ^bV\Z d[ ZmZXji^kZh# Æ6
adi d[ eZdeaZ iV`Z V kZgn cZ\Vi^kZ
k^Zl d[ ZmZXji^kZh! VcY cdi _jhi Zm"
ZXji^kZh^ci]Z[^cVcXZhZXidg#I]ZnÉgZ
Xdch^YZgZY\gZZYn!Vggd\Vci!VcY^c"
XdbeZiZci# I]^h k^Zl bVn d[iZc WZ
ZmV\\ZgViZY# 7ji > Yd WZa^ZkZ i]Vi
bVcnZmZXji^kZhXdjaYWZbdgZ]dc"
Zhi VcY bdgZ gZhedch^WaZ# L]Vi Yd
i]ZgZhid[ndji]^c`4L]ViXVc:#DC
WdVgYbZbWZghYdhdi]Vii]ZejWa^X
YdZhcÉi]VkZi]ZhVbZcZ\Vi^kZk^Zl
d[ djg XdbeVcn4Ç 6i :#DC :cZg\^Z!
l]^X] ]Vh ))!%%% ZbeadnZZh! BVj"
WVX] hZZh Wad\h Vh Vc Ædeedgijc^in
[dgVigjandeZcY^Vad\jZidl]^X]Vaa
d[jhXVcXdcig^WjiZ#Ç
I]Z 8:D Vahd ]deZh [dg ^YZVh dc
^hhjZhi]Vi]ZÉh^ciZgZhiZY^c!hjX]Vh
Xa^bViZ egdiZXi^dc VcY bdW^a^in/ Æ>
i]^c` WViiZgn"edlZgZY XVgh ]VkZ V
egdb^h^c\ [jijgZ# 7ji bVnWZ >Éb
lgdc\# > ]deZ djg iZX]c^XVa eZdeaZ
l^aaXdcig^WjiZi]Z^gk^Zlhidi]ZY^h"
Xjhh^dc#Ç
H]Vg^c\`cdlaZY\Z
8a^bViZegdiZXi^dc^hVahdi]ZhjW_ZXi
d[VWad\VWdjiXaZVcXdVai]Vi:#DC
:c\^cZZg^c\ ZbeadnZZh VgZ lg^i^c\
id egdbdiZ Y^hXjhh^dc VWdji i]Z
XdchigjXi^dcd[cZlXdVa"[^gZYedlZg
eaVcih# ÆLZÉgZ ign^c\ id ^c[dgb Vh
bVcn XdaaZV\jZh Vh edhh^WaZ VWdji
i]Z iZX]c^XVa YZkZadebZcih d[ djg
egd_ZXih!ÇIZjWZghV^Y#ÆLZÉgZh]Vg^c\
`cdlaZY\Z ^c Vc Z[[dgi id hejg Y^h"
Xjhh^dc VWdji XdVa"[^gZY \ZcZgVi^dc#
6h l^i] gZcZlVWaZh VcY cjXaZVg
edlZg! lZ ZmeZXi adih d[ Y^[[ZgZci
k^Zled^cih#Ç EVja Hfj^gZh! l]d dkZg"
hZZh i]Z egd_ZXi Vi :#DC J@! VYYh/
ÆLZ]deZi]Viadihd[ZbeadnZZhiV`Z
eVgiVcYbV`Zi]^hVcdeZc!]dcZhi!
VcYa^kZanY^hXjhh^dc#Ç
7ad\h Vahd XgZViZ deedgijc^i^Zh
[dgh]Vg^c\eZghdcVaZmeZg^ZcXZh#Æ>Éb
V igV^cZZ WZ^c\ igVch[ZggZY id 7ja"
\Vg^V[dgi]gZZbdci]h#8VchdbZdcZ
iZaabZVWdjii]Z^gigV^cZZh]^ei]ZgZ
VcYd[[Zgi^ehVWdji[^cY^c\VcVeVgi"
bZci ^c Hd[^V4Ç 6adc\ l^i] igV^cZZh!
VeegZci^XZh bV`Z je Vcdi]Zg iVg\Zi
\gdjed[i]ZWad\egd_ZXi#6eegZci^X"
Zh d[iZc add` [dg ]Zae l]Zc i]ZnÉgZ
egZeVg^c\[dgi]Z^gZmVbh#7ad\h\^kZ
i]ZbVlVnidfj^X`angZVX]VaVg\Zg
VjY^ZcXZ VcY \Zi i]Z ^c[dgbVi^dc
i]ZncZZY#L]ZcndjÉgZign^c\idXVhi
ndjg cZi l^YZ! Wad\\^c\ ^h bdgZ Z["
[ZXi^kZi]VcZbV^a^c\#
8djaY Wad\\^c\ ]Zae hiZb i]Z
[addY d[ ZbV^ah4 I]Vi ldjaY WZ V
eaZVhVci h^YZ Z[[ZXi d[ Vc Z[[ZXi^kZ
bZY^jb[dgk^gijVaY^hXjhh^dc[dgjbh
VcYcdi^XZWdVgYh#
<Zii^c\WZiiZgVaai]Zi^bZ
>cVYY^i^dcid\ddYbVg`h!^begdkZbZcihlZgZVahd^YZci^[^ZY
l]^X] :#DC >H Xdbe^aZY ^cid V XViVad\jZ d[ bZVhjgZh# I]Z
7g^i^h]lZgZi]Z[^ghiid[dXjhdci]ZiZcYZg^c\egdXZhh#I]Z
=jc\Vg^VchVX]^ZkZYi]ZhXdgZd['#(^c[V^ajgZbVcV\ZbZci#
=dlZkZg!^ci]Z[jijgZ!^c[dgbVi^dcdc:#DC>HVcYXdbbjc^"
XVi^dcl^i]Xa^Zcihh]djaYWZZmeVcYZY#I]ZHlZYZh]^gZYVc
VYY^i^dcVaZbeadnZZid^begdkZVXXdjci^c\egdXZhhZh#>c<Zg"
bVcn! ZmeZchZh ^c ^ckd^XZh VgZ id WZ hiViZY bdgZ igVcheVg"
Zcian VcY Zggdg bVcV\ZbZci Ä gZhedch^WaZ [dg ZkZgni]^c\
XdcXZgc^c\ZggdgegZkZci^dc!^YZci^[^XVi^dcVcYXdggZXi^dc^c
>IhnhiZbhÄ^hidWZ^begdkZY#Eajh!^i^hiV`^c\VXi^dcid^b"
egdkZegd_ZXibVcV\ZbZci#Cdl!ZmiZgcVa>IXdchjaiVcihl^aa
WZgZfj^gZYidgZXZ^kZigV^c^c\^cdjg>IhiVcYVgYhWZ[dgZ_d^c"
^c\Vc:#DCegd_ZXiiZVb#ÆLZÉgZXdci^cjVaanVYY^c\cZlVgZVh
id i]Z VXi^dc eaVc!Ç hV^Y :#DC >H =ZVY d[ BVg`Zi^c\ H^\gjc
@“cioZa l]d dkZghVl i]Z XjhidbZg hjgkZn# ÆLZÉaa WZ ^beaZ"
bZci^c\ V adi d[ ^begdkZbZci bZVhjgZh ^c '%%.#LZ V^b id
[jgi]ZggV^hZi]ZfjVa^ind[djghZgk^XZhVcY[dgi]ZhZ^begdkZ"
bZcih id WZ gZ[aZXiZY ^c i]Z cZmi XjhidbZg hjgkZn! l]^X]
iV`ZheaVXZ^c'%&%#Ç
(%/(%
6heZX^Va
cjbWZg
DcZ4;^kZ46YdoZc46l]daZadi49dndj`cdl
^c]dlbVcnXdjcig^Zh:#DCdeZgViZhdgid]dl
bVcnXjhidbZghlZhjeeanZcZg\n4LZÈkZ\di
VcZVhnlVnidgZbZbWZgi]ZVchlZg#(%/(%#
I]VibZVch:#DCdeZgViZh^cVWdji(%Xdjcig^Zh
VcYhjeea^ZhVWdji(%b^aa^dcXjhidbZghl^i]
edlZgVcY\Vh#

Benzer belgeler

Proposal for Istanbul European Capital of Culture Istanbul Avrupa

Proposal for Istanbul European Capital of Culture Istanbul Avrupa LZl^aaZchjgZidegdk^YZVhbjX]d[i]ZhZaZXi^dchWZadl[dgi]ZiVhi^c\dc9ZXZbWZg.i]! `^iX]Zc[VX^a^i^ZheZgb^ii^c\#H]djaYndjX]ddhZidjhZdjghZgk^XZh[dgi]ZZkZci^c;ZWgjVgn!lZ ldja...

Detaylı