E?HG=:J> I_j_\_eZ k g_f_pdh]hdZg^nbehegZmd<FE_sbgkdZy Ih^j_^Zdpb_c^jZf_^gZmd<F;e_co_jZ _ ba^Zgb_kl_j_hlbigh_ DB?< =HEH<GH? BA>:L?EVKL<H BA>:L?EVKDH=H H;T?>BG?GBY ©<US: RDHE:ª M>D Fhgh]jZnbykhklhbl ba ^\mo qZkl_c < i_j\hc qZklb^Zg ikboheh]bq_kdbc b debgbq_kdbc ZgZeba Zdp_glmbjh\Zgguo ebqghkl_c l _ ex^_c kh k\h_h[jZaguf aZhklj_gb_f k\hckl\ ebqghklbb hkh[ufj_Z]bjh\Zgb_f<lhjZyqZklvy\ey_lkydZd[ubeexkljZpb_cd i_j\hcl_\ g_c ijh\h^blky oZjZdl_jbklbq_kdbc ZgZeba ]_jh_\ deZkkbq_kdbo ijhba\_^_gbc fbjh\hc ebl_jZlmjuk\ur_ljb^pZlbibkZl_e_cLheklh]h>hklh_\kdh]h=h]heyR_dkibjZK_j\Zgl_kZ ;ZevaZdZ=_l_Kl_g^Zeyb ^j Dgb]Z ij_^gZagZq_gZ ^ey \jZq_cikbobZljh\ klm^_glh\ klZjrbo dmjkh\ f_^bpbgkdbo b i_^Z]h]bq_kdbo bgklblmlh\ ikboheh]h\ i_^Z]h]h\ \k_o bgl_j_kmxsboky ijh[e_fhc ikboheh]bbebqghklb;b[ebh]jgZa\ IJ?>BKEH<B? Dgb]Z D E_hg]Zj^Z ©:dp_glmbjh\Zggu_ ebqghklbª gZ jmkkdhf yaud_ i_j\uf ba^Zgb_f \ureZ\ ]HgZ[ueZk [hevrbfbgl_j_khf\klj_q_gZkh\_lkdbfb aZjm[_`gufqblZl_e_f H[ wlhf k\b^_l_evkl\mxl j_p_gabb him[ebdh\Zggu_ \ ki_pbZevghc i_jbh^bq_kdhc i_qZlb ©@mjgZe g_\jhiZlheh]bb b ikbobZljbb bf K K DhjkZdh\Zª [he]Zjkdbc `mjgZe ©G_\jheh]by ikbobZljby b g_\jhobjmj]byª hldebdgmebkv gZ __ \uoh^ b h[s_kl\_gghim[ebpbklbq_kdb_ ba^Zgby < qZklghklb j_p_gaby gZ dgb]m D E_hg]Zj^Z [ueZ him[ebdh\ZgZ\ `mjgZe_©Gh\ucfbjª Z\lhj__j_`bkk_jfhkdh\kdh]hl_ZljZX: FhqZeh\QblZl_evibkvfhdhlhjh]hhim[ebdh\Ze`mjgZe ©H]hg_dª gZau\Z_l __ gZklhevghc dgb]hc mqbl_ey b \jZqZ Wlh g_m^b\bl_evgh JZajZ[hlZggZy D E_hg]Zj^hf dhgp_ipby Zdp_glmbjh\Zgguo ebqghkl_c iha\hey_l rbjhdhfm djm]m qblZl_e_c m]em[e_ggh ihagZ\Zlvijbjh^mq_eh\_q_kdhcebqghklbBa^Zl_evkl\hihemqbehfgh`_kl\hibk_fk ijhkv[hc i_j_ba^Zlv dgb]m j_amevlZlhf q_]h b y\behkv gZklhys__ ba^Zgb_ AZdexq_g lZd`_ ^h]h\hj h ihklZ\d_ dgb]b gZ jmkkdhf yaud_ \ Ihevkdmx GZjh^gmx J_kim[ebdm Dhg_qgh hkh[_gguc bgl_j_kwlZdgb]Zij_^klZ\ey_l\k_`_^eyki_pbZebklh\\ i_j\mxhq_j_^v ²^eyikbobZljh\ Dhgp_ipbyZdp_glmbjh\Zgguoebqghkl_cbaeZ]Z_lky\ g_dhlhjuojmdh\h^kl\ZoihikbobZljbbb f_^bpbgkdhc ikboheh]bb ijb\e_dZ_lky ^ey bamq_gby jy^Z ijh[e_f ih]jZgbqghc ikbobZljbb Bkke_^m_lky jhev Zdp_glmZpbb ebqghklb \ ]_g_a_ g_\jhah\ ikbohiZlbc b ikbohkhfZlbq_kdbo aZ[he_\Zgbc ya\_gghc [he_agb `_em^dZ b ^\_gZ^pZlbi_jklghc dbrdb [jhgobZevghc Zklfu br_fbq_kdhc [he_agb k_j^pZ Ex[h_ gh\h_ bkke_^h\Zgb_ l_f [he__ aZjm[_`gh]h Z\lhjZ \ h[eZklbih]jZgbqghcikbobZljbbij_^klZ\ey_lbgl_j_kg_lhevdh\ ihagZ\Zl_evghdebgbq_kdhf Zki_dl_ghb \kjZ\g_gbbk m`_bf_xsbfbkym gZkjZ[hlZfbwlh]hieZgZb\ i_j\mxhq_j_^vk deZkkbq_kdbf ljm^hf I ; =ZggmrdbgZ ©DebgbdZ ikbohiZlbc bo klZlbdZ ^bgZfbdZ b kbkl_fZlbdZª KjZ\g_gb_ \a]ey^h\ I ; =ZggmrdbgZ b D E_hg]Zj^Z ih \hijhkZf ih]jZgbqghc ikbobZljbb fh]eh [u ihkem`blv ij_^f_lhf ki_pbZevgh]h bkke_^h\Zgby HklZgh\exkvebrvgZg_kdhevdbol_abkZoI;=ZggmrdbgZi_j_debdZxsbokyk iheh`_gbyfb D E_hg]Zj^Z Wlh \hi_j\uo iheh`_gb_ h lhf qlh ikbohiZlbq_kdZy ebqghklv kh \k_fb __ hkh[_gghklyfb g_ fh`_l jZkkfZljb\Zlvky dZd ^ZggZy m`_ \ fhf_gl jh`^_gby b g_ baf_gyxsZyky \ l_q_gb_ `bagb \h\lhjuo mdZaZgb_ gZ j_^dhklv h^ghlbiguo ikbohiZlbc b [hevrmxqZklhlmi_j_oh^guokf_rZgguonhjfhlebqZxsbokyqj_a\uqZcgufihebfhjnbafhf ijhy\e_gbcb [h]Zlkl\hfhll_gdh\\lj_lvboih^q_jdb\Zgb_\ ^bgZfbd_ikbohiZlbcagZq_gby dhebq_kl\_gghcklhjhgubobamq_gbyl_hij_^_e_gbykl_i_gbikbohiZlbb I ; =Zggmrdbg mdZau\Ze qlh ijb dhebq_kl\_gghc hp_gd_ ^bgZfbdb ikbohiZlbb j_qv fh`_lb^lbg_lhevdhh[bgl_gkb\ghklb\k_cdebgbq_kdhcdZjlbgu\ p_ehfghb \jy^_kemqZ_\ h \uiyqb\Zgbbhl^_evguoikbohiZlbq_kdboq_jlhkh[_gghkl_caZ\bkysbohl\g_rgbomkeh\bc < k\yabk wlbfI;=Zggmrdbg\u^\bgmeiheh`_gb_h eZl_glguobebdhfi_gkbjh\Zgguo ikbohiZlbyoJZagbpmf_`^mgbfbb debgbq_kdby\gufbikbohiZlbyfbhg\b^_e\ `bag_gghf ijhy\e_gbb ihke_^gbo l _ \ lhf kbg^jhf_ dhlhjuc \ kh\j_f_gghc ikbobZljbb h[hagZqZ_lkydZdkhpbZevgZy^_aZ^ZilZpby Dgb]ZI;=ZggmrdbgZihk\ys_gZdebgbd_ikbohiZlbc\ g_cih^\_j]gmluki_pbZevghfm bamq_gbx ijhy\e_gby eZl_glguo ikbohiZlbc y\eyxsboky g_ q_f bguf dZd ijhy\e_gb_f Zdp_glmZpbb ebqghklb \ ihgbfZgbb D E_hg]Zj^Z Dhgp_ipby Zdp_glmZpbb ebqghklb [ueZ bkihevah\ZgZ : ? Ebqdh b _]h khljm^gbdZfb ijb bamq_gbb oZjZdl_jZ ih^jhkldh\ hkh[_ggh hldehg_gbc \ bo ih\_^_gbb :\lhj wlbo kljhd k khljm^gbdZfb gZ hkgh\_ ^Zgghc dhgp_ipbb bamqZe hkh[_gghklb iZpb_glh\ kljZ^Zxsbo ikbohkhfZlbq_kdbfb aZ[he_\Zgbyfb bo ij_fhj[b^gh_ khklhygb_ \hafh`ghklv \uy\e_gby iml_f kdjbggbg]Z ebp ih^\_j`_gguo ikbohkhfZlbq_kdhc iZlheh]bb < dgb]_ D E_hg]Zj^Z qblZl_ev gZc^_l bkdexqbl_evgh lhgdb_ debgbq_kdb_ hibkZgby Zdp_glmbjh\Zgguo ebqghkl_c ihagZdhfblky k ZgZebahf keh`guo b bf_xsbo [hevrh_ ijZdlbq_kdh_ agZq_gb_ kemqZ_\ dhf[bgbjh\Zgguo Zdp_glmZpbc ijhke_^bl ^bgZfbdmZdp_glmZpbbebqghklbdZd\ klhjhgmikbohiZlbblZdb \iheh`bl_evgmxklhjhgmg_ ijb\h^ysmx d y\e_gbyf khpbZevghc ^_aZ^ZilZpbb WlZ dgb]Z ^Z_l \hafh`ghklv ijhgbdgmlv \ bkke_^h\Zl_evkdmx eZ[hjZlhjbx D E_hg]Zj^Z \ dhlhjhc gZ i_j\hf ieZg_ hdZau\Zxlky gZ[ex^_gb_ y [u kdZaZe gZ[ex^Zl_evghklv b debgbdhikboheh]bq_kdh_ bkke_^h\Zgb_ hp_gb\Z_fh_Z\lhjhf\ur_dZdbo[ulhgb[uehhijhkgbdh\b Zgd_l < ijhp_kk_ ih^]hlh\db \lhjh]h jmkkdh]h ba^Zgby ijbreZ i_qZevgZy \_klv ijhn_kkhj D E_hg]Zj^ \ Zij_e_ ] kdhjhihklb`gh kdhgqZeky gZ ]h^m `bagb Hg ijh`be [hevrmx `bagvmq_gh]hb ljm`_gbdZDgb]bgZibkZggu_DE_hg]Zj^hfi_j_\_^_gugZ^jm]b_yaudb² blZevygkdbc Zg]ebckdbc yihgkdbc jmkkdbc jmfugkdbc < gZklhys__ \j_fy ba^Zl_evkl\h ©<usZrdheZªih^]hlZ\eb\Z_li_j_\h^gZjmkkdbcyaudihke_^g_]hr_klh]hba^Zgbydgb]bh kbkl_fZlbd_ wg^h]_gguo ikbohah\ \ wlhf ba^Zgbb hgZ [m^_l gZau\Zlvky ©Kbkl_fZlbdZ wg^h]_gguoikbohah\b bo^bnn_j_gpbjh\ZggZywlbheh]byª Fg_^h\_ehkv\ l_q_gb_ ^g_c[ebadhh[sZlvkyk ijhnDE_hg]Zj^hf\ yg\Zj_] H^gZ`^u]h\hjyh k\hbobkke_^h\Zgbyohgijhbag_kkeh\Z©fhyikbobZljbyªY ih^mfZeqlh hgbf_e^eywlh]h\k_hkgh\Zgbyg_lgb h^gh]hjZa^_eZikbobZljbbdhlhjuc[uDE_hg]Zj^g_ hk\_lbeihk\h_fmg_h[h]Zlbehjb]bgZevghcl\hjq_kdhcdhgp_ipb_c Hg [ue gZklhysbf mq_gufdebgbpbklhf khq_lZ\rbf h]jhfgh_ l_hj_lbq_kdh_ agZgb_ ij_^f_lZk mf_gb_fbkke_^h\Zlv[hevgh]hZgZebabjh\Zlvoh^aZ[he_\Zgby Y ijbkmlkl\h\Ze gZ _]h debgbq_kdbo jZa[hjZo >mfZx qlh kZfb wlb jZa[hju Z bo h[klhyl_evghihqlbkl_gh]jZnbq_kdbaZibku\ZeZfgh]he_lgyykhljm^gbpZijhnD E_hg]Zj^Z nhgLjhklhjnnqblZl_eyf_]hdgb]hgZba\_klgZihfgh]hqbke_ggufkkuedZfgZ__ jZ[hlub ijb\_^_gguf ^ey beexkljZpbb hkgh\guo iheh`_gbc debgbq_kdbf gZ[ex^_gbyf fh]eb [u khklZ\blv bgl_j_kg_crmx dgb]m Dgb]m dhlhjZy mqbeZ [u \jZq_cikbobZljh\ lhfm dZd bkke_^h\Zlv [hevgh]h bamqZlv l_q_gb_ [he_agb m g_]h ijh\h^blv ^bnn_j_gpbZevgmx ^bZ]ghklbdm mklZgZ\eb\Zlv aZdexqbl_evguc ^bZ]gha Dgb]m dhlhjZy [u mqbeZ ikbobZljbq_kdhcijh]ghklbd_ DZ`^h]h[hevgh]hDE_hg]Zj^kfhlj_eg_f_g__qZkZg_h[gZjm`b\ZyijbwlhfmklZehklb b g_ mljZqb\Zy bgl_j_kZ d ebqghklb [hevgh]h ;hevgu_ dhlhjuo hg kfhlj_e ih\lhjgh \hkijbgbfZeb _]h m`_ dZd [ebadh]h bf q_eh\_dZ \k_ h gbo agZxs_]h b \k_ ihfgys_]h IhjZ`ZeZlhgdhklvy [ukdZaZe²hllhq_gghklvdebgbdh^bZ]ghklbq_kdh]hf_lh^ZY gZ[ex^Ze ijhn D E_hg]Zj^Z \ h[s_gbb kh k\hbfb fheh^ufb dhee_]Zfb \ ikbobZljbq_kdhc debgbd_ RZjbl_ dhlhjhc hg fgh]h e_l jmdh\h^be b \ p_gljZevghc [_jebgkdhc ikbobZljbq_kdhc [hevgbp_bf<=jbabg]_jZ²bohlghr_gb_d g_fmhij_^_eyehkvg_jZagbp_c\ \hajZkl_wlh [ueZ\lhjbl_lMqbl_ey\ g_fqm\kl\h\Zehkvlhm\Z`_gb_dhlhjh_kZfDE_hg]Zj^bkiulu\Zed k\h_fmmqbl_ex²DZjemDe_cklm D E_hg]Zj^ g_ [ue q_eh\_dhf aZfdgm\rbfky \ k\h_c \ukhdhc ijhn_kkbhgZevghc dhfi_l_glghklbHgijhy\eye]em[hdbcbgl_j_kd h[s_kl\_gghc`bagb[ue[hevrbfagZlhdhf bkdmkkl\Z <ijhq_f \ ihke_^g_f qblZl_ev e_]dh m[_^blky agZdhfykv kh \lhjhc qZklvx dgb]b ©:dp_glmbjh\Zggu_ ebqghklbª Fg_ [ueh hkh[_ggh ijbylgh m[_^blvky \ lhf gZkdhevdh ]em[hdhagZeb \ukhdhp_gbeDE_hg]Zj^l\hjq_kl\hNF>hklh_\kdh]hEGLheklh]h:I Q_oh\Z G_khfg_ggh wlZ dgb]Z ij_^klZ\bl [hevrhc bgl_j_k g_ lhevdh ^ey ki_pbZebklh\ aZgbfZxsboky \hijhkZfb ikbobZljbb b ih]jZgbqguo k g_c gZmd gh b ^ey klm^_glh\ f_^bpbgkdbo b i_^Z]h]bq_kdbo bgklblmlh\ \k_o bgl_j_kmxsboky ijh[e_fhc ikboheh]bb ebqghklb<F;e_co_j IJ?>BKEH<B?D JMKKDHFMI?J?<H>M Jy^fhbodgb]m`_i_j_\_^_ggZ^jm]b_yaudbghy iheZ]Zxqlhi_j_\h^gZjmkkdbcyaud fhbo ©:dp_glmbjh\Zgguo ebqghkl_cª h[_ki_qbl hkh[_ggh l_kguc dhglZdl Z\lhjZ k ^jm]bf gZjh^hf Fukev wlZ klZg_l ihgylghc qblZl_ex dh]^Z hg hagZdhfblky k kh^_j`Zgb_f ,, qZklb ^Zggh]hljm^Z\ dhlhjhcy h[jZsZxkvd \_ebdbfibkZl_eyfikboheh]ZfD \_ebqZcrbfkj_^b gboijbgZ^e_`Zljmkkdb_ibkZl_ebLheklhcb >hklh_\kdbcLheklhc^hghkbl^hgZkk\h_h[jZab_ lZdbo^mr_\guoj_Zdpbcdhlhju_[_aikboheh]bq_kdhc]em[bgu_]hih^oh^Z\jy^ebhdZaZebkv [u \hh[s_ jZkdjulufb \ om^h`_kl\_gghc ebl_jZlmj_ ohly hgb ]em[hdh q_eh\_qgu b b]jZxl kms_kl\_ggmx jhev \ ih\_^_gbb ebqghklb \ p_ehf M >hklh_\kdh]h k bkdexqbl_evghc kbehc ihdZaZgu jZaebqby \ ih\_^_gbb jZaguo ex^_c :dp_glmbjh\Zggu_ ebqghklb ij_^klZ\eyxsb_ ijb ^_eh\hf ijhn_kkbhgZevghf hibkZgbb g_ [he__ q_f qbklh gZmqguc bgl_j_k [eZ]h^Zjy >hklh_\kdhfm^_eZxlky[ebadbfbgZffu\hkijbgbfZ_fbo[he__g_ihkj_^kl\_gghajbfh G_dhlhjuf djblbdZf i_jkhgZ`b >hklh_\kdh]h ij_^klZ\eyebkv iZlheh]bq_kdbfb H^gZdh wlh fg_gb_ hkgh\Zgh gZ g_^hjZamf_gbb bf_ggh \ kbem lh]h qlh >hklh_\kdbc bah[jZ`Ze ikboheh]bx b ihklmidb ex^_c klhev h[jZagh klhev aZo\Zlu\Zxs_ bf b ijbibku\Zeky iZlheh]bq_kdbc oZjZdl_j GZ kZfhf `_ ^_e_ ih\_^_gb_ \k_o _]h ]_jh_\ _klv ih\_^_gb_ ex^_c kh\_jr_ggh ghjfZevguo < fh_c dgb]_ pblbjm_lky ke_^mxsZy fukev >hklh_\kdh]h dhlhjuc dZkZekyb ^Zggh]h\hijhkZ©IbkZl_eb\ k\hbojhfZgZob ih\_klyo[hevr_xqZklbxklZjZxlky [jZlvlbiuh[s_kl\Zb ij_^klZ\eylvboh[jZaghb om^h`_kl\_ggh²lbiuqj_a\uqZcghj_^dh \klj_qZxsb_ky\ ^_ckl\bl_evghklbp_ebdhfohlyhgbl_fg_f_g___s_^_ckl\bl_evg__kZfhc ^_ckl\bl_evghklbª < , qZklb dgb]b y g_ fh] ]h\hjblv k qblZl_e_f kha^Z\Zy om^h`_kl\_ggu_ h[jZau b[h y lhevdh mq_guc g_ [he__ B \k_ `_ y ihklhyggh klj_fbeky b a^_kv g_ [ulv ]hehkeh\guf dhgdj_lgh ih^l\_j`^Zlv l_hj_lbq_kdb_ jZkkm`^_gby gZ]ey^gufb ijbf_jZfb \aylufb ba `bagb Ebrv ijb lZdhf f_lh^_ qblZl_ev kihkh[_g iheghklvx ho\Zlblv \k_ kdZaZggh_ Z\lhjhf WlZ gZ]ey^ghklv baeh`_gbyij_^klZ\ey_lky hkh[_ggh \Z`ghc ijbi_j_\h^_ gZ ^jm]hc yaud L_hj_lbq_kdb_ iheh`_gby g_ \k_]^Z fh]ml [ulv Z^_d\Zlgh i_j_\_^_gu gZ bghkljZggucyaudbgh]^Zhgbg_kdhevdhhloh^ylhlhjb]bgZeZaZlhhibkZgbydhgdj_lguoebpb kblmZpbc \ i_j_\h^_ g_^\mkfuke_ggu b kjZam \k_f ihgylgu hgb hl hjb]bgZeZ gbq_f g_ hlebqZxlky Y ijb^Zx [hevrh_ agZq_gb_ bkoh^ghfm hij_^_e_gbx k\h_c l_fu ^Zgguc ljm^ ihk\ys_g ebqghklyfg_iZlheh]bq_kdbfZ ghjfZevgufohlyb Zdp_glmbjh\Zgguf?kebbah[jZ`_gb_bo ihjhclZdyjdhb \ujZabl_evghqlhkha^Z_lky\i_qZle_gb_iZlheh]bqghklbhibku\Z_fuoex^_c lh wlh k\yaZgh ebrv k gZf_j_gb_f lh]h beb bgh]h Z\lhjZ dZd fh`gh [he__ j_adh ih^q_jdgmlv ZgZebabjm_fu_ebqghklgu_q_jluBf_gghwlhb ^Z_lfg_ijZ\hkhkeZlvkygZ\ur_ijb\_^_ggmx fukev>hklh_\kdh]h JZ^m_l f_gy lhl nZdl qlh \ k\hbo gZmqguo ihbkdZo y g_ h^bghd qlh y kheb^Zj_g k kh\_lkdbfbmq_gufbij_ke_^mxsbfbl_`_p_ebZgZebaZb hij_^_e_gbyebqghklb GZ^_xkvqlh[eZ]h^Zjyhim[ebdh\Zgbxi_j_\h^Zwlhcdgb]bgZrbdhglZdluk kh\_lkdbfb mq_gufb klZgml _s_ l_kg__ q_f [ueb ^h wlh]h Wlbf ih`_eZgb_f y b ohl_e [u aZdhgqblv ij_^bkeh\b_d jmkkdhfmi_j_\h^m©:dp_glmbjh\Zgguoebqghkl_cª DZjeE_hg]Zj^ IJ?>BKEH<B?DH<LHJHFMBA>:GBX Dhgp_ipby Zdp_glmbjh\Zgguo ebqghkl_c baeZ]Z_fZy \ ^Zgghf ljm^_ hkgh\ZgZ gZ fhgh]jZnbb ©GhjfZevgu_ b iZlheh]bq_kdb_ ebqghklbª gZibkZgghc fghx \f_kl_ k fhbfb khljm^gbdZfb b ba^Zgghc \ ] 9(% Ba^Zl_evkl\h ©9RON XQG *HVXQGKHLWª Ba wlhc fhgh]jZnbb aZbfkl\h\Zgh b fgh]h hl^_evguo hibkZgbc ghjfZevguo b iZlheh]bq_kdbo ebqghkl_c\ k\yabk q_fy \ujZ`Zxk\hbfkhljm^gbdZfbkdj_ggxx[eZ]h^Zjghklv<h\lhjh_ ba^Zgb_ \g_k_g jy^ bkijZ\e_gbc b ^hiheg_gbc < qZklghklb dgb]Z ^hiheg_gZ hibkZgb_f l_o Zdp_glmbjh\Zgguo ebqghkl_c h[jZau dhlhjuo kha^Zgu \ om^h`_kl\_gghc ebl_jZlmj_ aZ kq_l wlh]hagZqbl_evghjZkrbj_gZ__ \lhjZyqZklv ;_jebgfZjl DZjeE_hg]Zj^ <<?>?GB? Ijbhp_gd_^Zgghcdgb]bih`Zemckdhj__\k_]hfh`ghmij_dgmlvf_gy\ lhfqlh]h\hjy h[ hkgh\guo q_jlZo q_eh\_q_kdhc ebqghklb y g_ ijb\e_dZx kemqZ_\ ba kms_kl\mxs_c h[rbjghc ebl_jZlmju ih ikbobZljbb b ikboheh]bb < k\h_ hijZ\^Zgb_ ijb\_^m ^\Z fhf_glZ I_j\uc ba gbo qbklh \g_rgbc dh]^Z h[t_f dgb]b aZ\_^hfh h]jZgbq_g lh \_jhylgh p_e_khh[jZag__ ijb\h^blv fZl_jbZe ihemq_gguc b hlh[jZgguc Z\lhjhf \ j_amevlZl_ ebqguo gZ[ex^_gbc Z g_ l_ h[s_ba\_klgu_ nZdlu gZ dhlhjuo hkgh\u\Zeb k\hb \u\h^u ^jm]b_ bkke_^h\Zl_eb Ex[hfm ikbobZljm ba\_klgu bf_gZ mq_guo aZgbfZ\rboky ^bZ]ghklbdhc ebqghklb \ i_j\mx hq_j_^v Dj_qf_jZ W\Zev^Z DmjlZ RgZc^_jZ I_ljbeh\bqZ DZ`^uc ikboheh] agZ_l gZi_j_q_l \k_ \u^Zxsb_ky ljm^u ih ikboheh]bb Z lZd`_ b kemqZb bkihevah\Zggu_ \ gbo \ dZq_kl\_ ijbf_jh\ ?^\Z eb g_h[oh^bfh aZgbfZlvky j_n_jbjh\Zgb_f m`_ba\_klgh]h Djhf_ wlh]h khh[jZ`_gby kms_kl\m_l b km]m[h \gmlj_ggyy ijbqbgZ Fhy f_lh^bdZ bamq_gbyebqghklbgZdhlhjhc^Zevr_y hklZgh\exkvih^jh[g__hlebqZ_lkyhl^jm]bof_lh^bd IjZ\^Zb ybkoh`mbah[uqgh]h\ ikbobZljbbh[ke_^h\ZgbyihklmiZxsbo\ debgbdmebpiml_f jZkkijhkZh^gZdhfhb\hijhkukhjb_glbjh\ZgubgZq_lZddZdij_ke_^mxlhkh[mxp_evBaaZ k\h_h[jZabyf_lh^bdbfg_ljm^gh[ueh[uih^\_klbj_amevlZluk\hbobkke_^h\Zgbcih^h^bg agZf_gZl_ev k j_amevlZlZfb ihemq_ggufb ^jm]bfb Z\lhjZfb Y [ue [u \ugm`^_g ihklhyggh h]h\Zjb\Zlvqlhy bf_x\ \b^mlh`_qlhb pblbjm_fucmq_gucbebgZh[hjhlqlh_]hhp_gdm ihemq_gguo^Zgguoy g_kh\k_fjZa^_eyxLZdh_ihklhyggh_\g_k_gb_dhjj_dlb\h\[ueh[ug_ lhevdhmlhfbl_evgufghb fZehieh^hl\hjgufIheZ]Zxqlh\hafh`gu_g_^hq_lubaeh`_gby k\yaZggu_ k g_^hklZlhqguf ijb\e_q_gb_f fZl_jbZeh\ ^jm]bo ki_pbZebklh\ [m^ml dhfi_gkbjh\Zgu rbjhdbf ijb\e_q_gb_f ebl_jZlmju >jm]h]h ieZgZ y gZf_j_\Zxkv ijhbeexkljbjh\Zlv b ih^dj_iblv k\hb khh[jZ`_gby h kljmdlmj_ ebqghklb h[jZaZfb om^h`_kl\_gghc ebl_jZlmju < k\yab k wlbf [m^ml ijhpblbjh\Zgu fgh]b_ ijhba\_^_gby om^h`gbdh\ keh\Z A^_kv y iha\hex k_[_ g_[hevrhc mij_d \ Z^j_k ^jm]bo ki_pbZebklh\ < om^h`_kl\_gghc ebl_jZlmj_ fu \ bah[bebb gZoh^bf aZf_qZl_evgu_ hibkZgby ikboheh]bb q_eh\_dZ dhlhju_ ke_^h\Zeh [u m`_ ^Z\gh bkihevah\Zlv b \ gZr_c gZmd_ <_ebdb_ ibkZl_eb h^gh\j_f_ggh y\eyxlky b \_ebdbfb ikboheh]Zfb Hkh[_ggh m[_^bl_evgu_ j_amevlZlu ^Z_l bamq_gb_ ikboheh]bb ]_jh_\ ebl_jZlmjguo ijhba\_^_gbc ijb ZgZeba_ q_eh\_dZ dZd bg^b\b^mZevghklbLZdbfh[jZahfbkihevamyhibkZgbyikboheh]bbq_eh\_dZ\ om^h`_kl\_gghc ebl_jZlmj_ y \ dZdhclh f_j_ gZ\_jklu\Zx mims_ggh_ b \ lh `_ \j_fy ihemqZx \hafh`ghklv agZqbl_evghjZkrbjblvj_Zevgmxhkgh\m^ey\u^\b]Z_fuofghciheh`_gbcDhg_qgh[hevrZy qZklvim[ebdm_fuoa^_kvfZl_jbZeh\²wlhg_ihkj_^kl\_ggu_gZ[ex^_gbykh[jZggu_Z\lhjhf b _]hdhee_]Zfb\ dgb]_©GhjfZevgu_b iZlheh]bq_kdb_ebqghklbªBakemqZ_\gZ[ex^Z\rboky fhbfbdhee_]Zfb\ gZklhysmxdgb]m\dexq_guebrvl_k dhlhjufby agZdhfnhjfmhibkZgby y ijb wlhf g_ f_gye < dgb]_ hibkZg lZd`_ jy^ gh\uo _s_ g_him[ebdh\Zgguo kemqZ_\ Y m[_`^_gqlhfug_^hklb]g_f^he`ghc]em[bguijbbamq_gbbkljmdlmjuebqghklb_keb[m^_f hkgh\u\ZlvkygZh^gbol_hj_lbq_kdbojZkkm`^_gbyobebgZwdki_jbf_glZevguobkke_^h\Zgbyo G_h[oh^bfh h[ke_^h\Zlv q_eh\_dZ dZd lZdh\h]h dZdbf hg ij_^klZ_l \ `bagb ² wlh iha\hebl ijh\_jblv^Zggu_b l_hjbbb wdki_jbf_glZIhwlhfmhkh[mxk\hxaZ^Zqmy mkfZljb\Zx\ lhf qlh[u ^Zlv dZd fh`gh [hevr_ ijbf_jh\ ba `bagb l _ aZgylvky hibkZgb_f lZdbo ex^_c dhlhju_ \ kbem hkh[hc kljmdlmju ebqghklb ihklhyggh \klmiZxl \ dhgnebdl kh k\hbf hdjm`_gb_f Lhevdh lh qlh fh`_l [ulv \u\_^_gh ba g_ihkj_^kl\_gguo gZ[ex^_gbc gZ^ `b\ufb ex^vfb b bo ihklmidZfb ke_^m_l kqblZlv ikboheh]bq_kdb ^hklh\_jguf B \ i_j\mx hq_j_^va^_kvbf__lky\ \b^mikboheh]byebqghkl_cgZau\Z_fuofghxZdp_glmbjh\Zggufb QZklv, LBIHEH=BYEBQGHKLB Ex^b jZaebqZxlky f_`^m kh[hc g_ lhevdh Zdp_glmbjh\Zggufb q_jlZfb >Z`_ g_ h[gZjm`b\Zy q_jl \u^_eyxsbo ebqghklv gZ nhg_ kj_^g_]h mjh\gy ex^b \k_ `_ g_koh^gu f_`^m kh[hc Bf_xlky \ \b^m l_ hkh[_gghklb dhlhju_ ijb^Zxl q_eh\_dm dZd lZdh\hfm bg^b\b^mZevgu_ q_jlu ?keb fu aZ^Zebkv p_evx ihgylv qlh `_ lZdh_ Zdp_glmZpby ebqghklb g_h[oh^bfhihagZlvwlbhlebqbl_evgu_q_jlu Q?EH<?DD:DBG>B<B>M:EVGHKLV B D:D:DP?GLMBJH<:GG:YEBQGHKLV Ex^_chlebqZxl^jm]hl^jm]Zg_lhevdh\jh`^_ggu_bg^b\b^mZevgu_q_jlughlZd`_b jZagbpZ\ jZa\blbbk\yaZggZyk l_q_gb_fbo`bagbIh\_^_gb_q_eh\_dZaZ\bkblhllh]h\ dZdhc k_fv_ hg \ujhk \ dZdhc rdhe_ mqbeky dlh hg ih ijhn_kkbb \ dZdhf djm]m \jZsZ_lky >\Z q_eh\_dZk gZlmjZfbi_j\hgZqZevghkoh^gufbfh]ml\ihke_^kl\bbbf_lv\_kvfZfZehh[s_]h f_`^m kh[hc Z k ^jm]hc klhjhgu koh^kl\h `bag_gguo h[klhyl_evkl\ fh`_l \ujZ[hlZlv koh^gu_ q_jlu b j_Zdpbb m ex^_c \ dhjg_ jZaebqguo LZd gZau\Z_fu_ `bag_ggu_ lbiu gZijbf_j lbi kem`Zs_]h hnbp_jZ dhff_jkZglZ mq_gh]h mqbl_ey hnbpbZglZ nhjfbjmxlky [eZ]h^Zjy lhfm qlh hij_^_e_ggh_ iheh`_gb_beb ^he`ghklv gZdeZ^u\Zxl hli_qZlhd gZ h[jZa `bagb Dhg_qgh wlhfm qZklh kihkh[kl\m_l lhl nZdl qlh aZeh`_ggZy \ q_eh\_d_ ijbjh^hc l_g^_gpby \aZbfh^_ckl\m_l k ba[jZgghc ijhn_kkb_c [he__ lh]h q_eh\_d b hij_^_e_ggmx ijhn_kkbx qZklh ba[bjZ_l bf_ggh ihlhfm qlh hgZ khhl\_lkl\m_l _]h bg^b\b^mZevguf kdehgghklyf Hli_qZlhd h dhlhjhf b^_l j_qv m \ajhkeh]h q_eh\_dZ g_ fh`_l k_jv_agh hljZablvkygZ^bZ]ghklbd_ebqghklb\_^v\g_rgb_nhjfuih\_^_gby\ ]hjZa^h[hevr_ckl_i_gb hij_^_eyxlky [eZ]hijbh[j_l_ggufb ijb\uqdZfb q_f ijhy\e_gb_f \gmlj_gg_c gZijZ\e_gghklb LZd gZijbf_j m mqbl_ey ba\_klgZy m\_j_gghklv \ k_[_ kZfhm\_j_gghklv _kl_kl\_ggu ihkdhevdm hg ijb\ud b]jZlv \Z`gmx jhev \ ^_lkdhf dhee_dlb\_ Kh\k_f ^jm]h_ \i_qZle_gb_ ijhba\h^bl q_eh\_d kZfhm\_j_gghklv dhlhjh]h g_ h[mkeh\e_gZ _]h ijhn_kkb_c DklZlbgZjy^mk m\_j_gghklvx\ k_[_mqbl_evfh`_lh[eZ^Zlv[_amkeh\ghckdjhfghklvxBeb \havf_f hnbp_jZ hlebqZxs_]hky bkdexqbl_evghc ^bkpbiebgbjh\Zgghklvx ZddmjZlghklvx LZdZyq_jlZ\ \h_gghf[he__hijZ\^ZgZq_fbajy^Z\hg\uoh^ysbci_^ZglbafaZeh`_gguc\ kZfhcgZlmj_q_eh\_dZ H[uqgh ih\_^_gb_ k\yaZggh_ k ijhn_kkbhgZevghc ijb\uqdhc g_ kf_rb\Zxl k ih\_^_gb_f hljZ`Zxsbf \gmlj_gg__ k\h_h[jZab_ q_eh\_dZ Bgh_ ^_eh _keb q_jlu [hevrh]h k\h_h[jZaby ijhy\bebkv m`_ \ jZgg_f ^_lkl\_ Lml [u\Z_l ljm^gh mklZgh\blv gZkdhevdh ]em[hdh wlh k\h_h[jZab_ hljZabehkv gZ kljmdlmj_ ebqghklb \ajhkeh]h Y ^he`_g h]h\hjblvky qlh \hijhk ijhbkoh`^_gby Zdp_glmbjh\Zgguo q_jl ebqghklb g_ y\ey_lky \ ^Zgghc jZ[hl_ ij_^f_lhf hkh[h]h \gbfZgby wlb q_jlu aZgbfZxl gZk ebrv \ lhf \b^_ \ dZdhf fu g_ihkj_^kl\_gghgZ[ex^Z_fbom h[ke_^m_fuoebpGZijbf_jfh`ghkqblZlvmklZgh\e_gguf qlh m ex[h]h q_eh\_dZ \ gZlmj_ aZeh`_gh `_eZgb_ aZkem`blv iho\Zem h^h[j_gb_ qlh ex[hc q_eh\_d g_ qm`^ qm\kl\Z `Zehklb <iheg_ \hafh`gh qlh \i_qZle_gby ^_lkdh]h \hajZklZ gZeh`beb hij_^_e_gguc hli_qZlhd gZ hkh[_gghklb ijhy\e_gby wlbo q_jl m \ajhkeh]h H^gZdh [_kkihjgh h^gh b kdehgghklb b gZijZ\e_gghklv bgl_j_kh\ q_eh\_dZ bkoh^yl ba\g_ < dZdmx klhjhgm gZijZ\e_gu q_klhex[b\u_ ihfukeu q_eh\_dZ aZ\bkbl bkdexqbl_evgh hl \g_rgbo klbfmeh\>\h_h^bgZdh\hq_klhex[b\uoex^_cfh]ml[ulvae_crbfb\jZ]Zfb\ kbemlh]hqlh klZ\ylk_[_ijyfhijhlb\hiheh`gu_p_ebIhjZaghfmfh`_l[ulvgZijZ\e_ghb qm\kl\h^he]Z DZdh_bf_gghgZijZ\e_gb_ba[bjZ_lkyq_eh\_dhf\hfgh]hfaZ\bkblhlh[s_kl\Z\ dhlhjhfhg `b\_l Lhqgh lZd `_ \jh`^_ggZy gZijZ\e_gghklv bgl_j_kh\ b kdehgghkl_c gb \ dh_c f_j_ g_ ij_iylkl\m_l\hkiblZl_evghfm\ha^_ckl\bx;he__lh]hbf_ggh\jh`^_ggZygZijZ\e_gghklvb _klv hkgh\Z \hkiblZgby [_a g__ \hkiblZgb_ \hh[s_ g_\hafh`gh ?keb [u \ q_eh\_d_ g_ [ueZ aZeh`_gZl_g^_gpbyd nhjfbjh\Zgbxqm\kl\Z^he]Zlhijbihfhsb\hkiblZgbyg_evay[ueh[u ih[m^blv_]h^_eZlvh^ghb g_^_eZlv^jm]h]h Ex^bhlebqZxlky^jm]hl^jm]Zg_aZ\bkbfhhllh]hdZdbfiml_flZdh_hlebqb_\hagbdZ_l Lhqgh lZd `_ dZd ih \g_rghklb h^bg q_eh\_d \k_]^Z hlebqZ_lky hl ^jm]h]h lZd b ikbobdZ dZ`^h]hq_eh\_dZhlebqgZhlikbobdb^jm]boex^_c B \k_ `_ ]h\hjy h[ bg^b\b^mZevguo q_jlZo fu g_ ij_^klZ\ey_f bo k_[_ dZd dZdhclh g_h[hajbfucjy^\hafh`ghkl_c\^h[Z\hd_s_b kfgh`_kl\hfi_j_oh^h\g_fh`_l[ulvb j_qb h [_kdhg_qghklb g_ih\lhjbfuo bg^b\b^mZevguo q_jl Fh`gh \u^\bgmlv ke_^mxsbc l_abk hkgh\gu_q_jluhij_^_eyxsb_bg^b\b^mZevghklvb oZjZdl_jq_eh\_dZ\_kvfZfgh]hqbke_ggu gh\k_`_boqbkehg_evaykqblZlvg_h]jZgbq_gguf Q_jlu hij_^_eyxsb_ bg^b\b^mZevghklv q_eh\_dZ fh]ml [ulv hlg_k_gu d jZaebqguf ikbobq_kdbfkn_jZf GZah\_f ij_`^_ \k_]h kn_jm dhlhjmx ijZ\bevg__ \k_]h [ueh [u h[hagZqblv dZd kn_jm gZijZ\e_gghklb bgl_j_kh\ b kdehgghkl_c G_dhlhju_ bgl_j_ku b kdehgghklb ghkyl oZjZdl_j w]hbklbq_kdbc^jm]b_gZijhlb\ZevljmbklbqguLZdh^bgq_eh\_dfh`_l\k_ih^qbgylv`Z`^_ gZ`b\u beb h[eZ^Zlv g_ihf_jguf ls_keZ\b_f ^jm]hc ² hlau\qb\ ^h[j m g_]h \ukhdh jZa\blh qm\kl\h ]jZ`^Zgkdhc hl\_lkl\_gghklb D wlhc `_ kn_j_ hlghkylky b qm\kl\h kijZ\_^eb\hklb [hyaeb\hklv beb g_gZ\bklv d q_eh\_dm ?keb h^gh ba wlbo k\hckl\ ikbobdb hq_gv yjdh \ujZ`_gh beb gZijhlb\ fZeh jZa\blh lh _klv hkgh\Zgby ]h\hjblv h gbo dZd h[ bg^b\b^mZevguoq_jlZoq_eh\_dZl_yjdmx\ujZ`_gghklvhibku\Z_fuobg^b\b^mZevguoq_jl _s_ g_evay kqblZlv hkgh\ghc ijbqbghc Zdp_glmZpbb ebqghkl_c dhlhju_ g_baf_ggh q_flh \u^_eyxlkygZnhg_ex^_ckj_^g_]hmjh\gy E_]dhmklZgh\blvqlhhldehg_gby\ lmbebbgmxklhjhgmm ebqghkl_cg_Zdp_glmbjh\Zgguo \k_]^Z gZoh^ylky \ ij_^_eZo h[s_q_eh\_q_kdbo ghjf Wlb q_jlu aZeh`_ggu_ \ q_eh\_d_ hl ijbjh^u bf_ggh \ke_^kl\b_ k\h_c h[s_q_eh\_q_kdhc agZqbfhklb khklZ\eyxl gZklhevdh dj_idbc hklh\ qlh hkh[h]h bg^b\b^mZevgh]h ©jZagh[hyª h[uqgh g_ gZ[ex^Z_lky G_ bkdexq_gu dhg_qgh \ZjbZpbb q_eh\_q_kdh]h j_Z]bjh\Zgby [u\Zxl ex^b [he__ beb f_g__ w]hbklbqgu_ beb Zevljmbklbqgu_ [he__ beb f_g__ ls_keZ\gu_ [he__ beb f_g__ khagZl_evgh hlghkysb_ky d k\h_fm ^he]m LZdbf iml_f l _ gZ nhg_ \ZjbZpbc \ kn_j_ gZijZ\e_gghklb bgl_j_kh\b kdehgghkl_c\hagbdZxljZaebqgu_bg^b\b^mZevghklbghbo_s_g_evayhlg_klbd Zdp_glmbjh\Zggufebqghklyf <lhjmx kn_jm fh`gh h[hagZqblv dZd kn_jm qm\kl\ b \heb OZjZdl_j \gmlj_gg_c i_j_jZ[hldb y\e_gbc lZd`_ hij_^_ey_l agZqbl_evgu_ bg^b\b^mZevgu_ jZaebqby < j_amevlZl_ \hagbdZxlfh^bnbdZpbbbg^b\b^mZevghklbb oZjZdl_jZJ_qvb^_lh kZfhfijhp_kk_ijhl_dZgby wfhpbc h kdhjhklb k dhlhjhc hgb h\eZ^_\Zxl q_eh\_dhf b aZl_f hkeZ[_\Zxl h ]em[bg_ qm\kl\Z Kx^Z `_ \oh^ylb \b^u \he_\uo j_Zdpbc d dhlhjuffuhlghkbf g_ lhevdh keZ[hklv beb kbem \heb gh lZd`_ b \gmlj_ggxx \he_\mx \ha[m^bfhklv \ ieZg_ ohe_jbq_kdh]h beb ne_]fZlbq_kdh]h l_fi_jZf_glZ K\hckl\Z wlhc wfhpbhgZevgh\he_\hc kn_ju lZd`_ \ lhc beb bghc f_j_ h[mkeh\eb\Zxl jZaebqgu_ \ZjbZpbb ih\_^_gby gZ^_eyy ex^_c ki_pbnbq_kdbfb bg^b\b^mZevgufb q_jlZfb H^gZdh b hgb g_ hij_^_eyxl kZfb ih k_[_ ebqghklv dhlhjZy hlq_leb\h \u^_eyeZkv [u gZ kj_^g_f nhg_ Lj_lvy kn_jZ k\yaZgZ k bgl_ee_dlhf dhlhjuc h[uqgh g_ \dexqZxl \ ihgylb_ ebqghklb Kms_kl\m_l h^gZdh h[eZklv ZkkhpbZlb\guo qm\kl\ pbl khq k ² \ dhlhjuo aZeh`_gh gZqZeh lZdbo q_jl ebqghklb dZd aZbgl_j_kh\Zgghklv klj_fe_gb_ d mihjy^hq_gghklb >ZggZy kn_jZ fh`_l [ulv gZa\ZgZ ZkkhpbZlb\ghbgl_ee_dlmZevghcLZdmxq_jlmq_eh\_dZdZdex[h\vd ihjy^dmg_evaykjZam`_ dZl_]hjbq_kdb hij_^_eylv dZd ihlj_[ghklv ZgZgdZklZ \ mihjy^hq_gghklb Kiehrv b jy^hf wlZ q_jlZ y\ey_lky ebrv h^gbf ba bg^b\b^mZevguo ijhy\e_gbc ZkkhpbZlb\ghbgl_ee_dlmZevghc kn_judhlhjh_hlgx^vg_^he`ghk\yau\Zlvkyk q_jlZfbZdp_glmZpbbebqghklb Qlh[uihgylvkmsghklvq_eh\_dZg_h[oh^bfhijbklZevghijbkfhlj_lvky d k\hckl\_gguf _fmjZaebqgufq_jlZfgZa\Zgguo\ur_ikbobq_kdbokn_jY ihiulZxkvijhbeexkljbjh\Zlv\ ^Zgghc dgb]_ hkh[_gghklb Zdp_glmbjh\Zgguo ebqghkl_c dhgdj_lgufb ijbf_jZfb ba `bagb Lhqgh lZd `_ ke_^h\Zeh [u ihklmiblv b \ hlghr_gbb i_j_qbke_gguo \ZjbZpbc q_eh\_q_kdhc bg^b\b^mZevghklb Gh ^Z`_ ijb `_eZgbb wlh g_e_]dh k^_eZlv Ki_pbnbq_kdb_ k\hckl\Z h dhlhjuo a^_kv ]h\hjbehkv g_ lZd [jhkZxlky \ ]eZaZ qlh[u bo fh`gh [ueh m[_^bl_evgh ih^l\_j^blvkhhl\_lkl\mxsbffZl_jbZehfGbgZ[ex^_gbygb [_k_^uk ex^vfbg_ihfh]Zxl h^ghagZqghhibkZlvb hij_^_eblvmihfygmlu_\ur_\ZjbZpbbAZlhbofh`ghhq_gvy\kl\_ggh ij_^klZ\blvk_[__kebihkfhlj_lvgZq_eh\_dZbagmljbBf_gghlZdmx\hafh`ghklv^ZxlgZf ibkZl_ebHgbg_lhevdhbah[jZ`Zxlqbklh\g_rgb_ihklmidb]_jh_\i_j_^Zxlbokeh\Zb ^Z`_ \ukdZau\Zgby h k_[_ kZfbo gh g_j_^dh khh[sZxl gZf b lh h q_f bo ]_jhb ^mfZxl qlh qm\kl\mxl b q_]h `_eZxl ihdZau\Zy \gmlj_ggb_ fhlb\u bo ihklmidh\ M i_jkhgZ`_c om^h`_kl\_gguo ijhba\_^_gbc e_]q_ \uy\blv \_kvfZ lhgdb_ bg^b\b^mZevgu_ \ZjbZpbb ?keb q_eh\_dijhy\ey_l[hyaeb\hklvbebkZfhm\_j_gghklvkhkljZ^Zgb_bebqm\kl\hkijZ\_^eb\hklb eb[h^Z`_g_ijhy\eyywlbodZq_kl\kZfk_[_boijbibku\Z_llhljm^ghk m\_j_gghklvxkdZaZlv i_j_rZ]gmeebhg]jZgbpughjfZevguoj_ZdpbcGhdh]^Zfu\klj_qZ_fm ibkZl_eyi_jkhgZ`m dhlhjh]h ijhy\eyxlky gZa\Zggu_ q_jlu \uibkZgguc lZeZgleb\h kh \k_fb _]h fukeyfb b qm\kl\Zfb wlh \ [hevrbgkl\_ kemqZ_\ ^Z_l \hafh`ghklv [_ahrb[hqgh jZkihagZlv ijhy\e_gb_ h^ghc ba kn_j bg^b\b^mZevghklb BlZd i_jkhgZ`b om^h`_kl\_gghc ebl_jZlmju ^Zxl gZf ex[hiulg_crb_ijbf_jubg^b\b^mZevguo\ZjbZpbcq_eh\_q_kdhcikbobdb G_\k_]^Ze_]dhijh\_klbq_ldmx]jZgvf_`^mq_jlZfbnhjfbjmxsbfbZdp_glmbjh\Zggmx ebqghklv b q_jlZfb hij_^_eyxsbfb \ZjbZpbb bg^b\b^mZevghklb q_eh\_dZ Dhe_[Zgby a^_kv gZ[ex^Zxlky \ ^\mo gZijZ\e_gbyo Ij_`^_ \k_]h hkh[_gghklb aZklj_\Zxs_c beb i_^Zglbq_kdhc beb ]bihfZgbZdZevghc ebqghklb fh]ml [ulv \ujZ`_gu \ q_eh\_d_ klhev g_agZqbl_evgh qlh Zdp_glmZpby dZd lZdh\Zy g_ bf__l f_klZ fh`gh ebrv dhgklZlbjh\Zlv hldehg_gb_hlg_dh_]h©ljZnZj_lgh]hªh[jZapZHkh[_gghyjdhwlh\ujZ`_ghijbhij_^_e_gbb l_o beb bguo k\hckl\ l_fi_jZf_glZ ij_^klZ\eyxsbo \k_ ijhf_`mlhqgu_ klmi_gb _]h \b^h\ \iehlv ^h ihqlb g_cljZevghc :dp_glmZpby \k_]^Z \ h[s_f ij_^iheZ]Z_l mkbe_gb_ kl_i_gb hij_^_e_gghcq_jluWlZq_jlZebqghklblZdbfh[jZahfklZgh\blkyZdp_glmbjh\Zgghc Fgh]b_ q_jlu g_\hafh`gh kljh]h ^bnn_j_gpbjh\Zlv l _ ljm^gh mklZgh\blv hlghkylky hgb d jy^m Zdp_glmZpbc beb ebrv d bg^b\b^mZevguf \ZjbZpbyf ebqghklb GZijbf_j _keb ]h\hjblvh q_klhex[bblhke_^m_lij_`^_\k_]hhij_^_eblvhlghkblkyhghd kn_j_bgl_j_kh\b kdehgghkl_c beb y\ey_lky q_jlhc Zdp_glmbjh\Zggh]h aZklj_\Zgby Ihke_^g__ hij_^_e_gb_ \hafh`gh ijb yjdhc \ujZ`_gghklb ^Zgghc q_jlu l\_j^heh[uc ke_ihc dZjv_jbaf \jy^ eb fh`gh hlg_klb d kn_j_ gZijZ\e_gghklb bgl_j_kh\ Djhf_ lh]h aZklj_\Zgb_ gbdh]^Z g_ ijhy\ey_lkyh^gbflhevdhq_klhex[b_fd g_fmijbkh_^bgyxlkyih\ur_ggZyqm\kl\bl_evghklv d h[b^Zf b kbevgh \ujZ`_ggZy aehiZfylghklv K ih^h[guf `_ iheh`_gb_f fu klZedb\Z_fky gZ[ex^Zy yjdb_ ijhy\e_gby qm\kl\Z ^he]Z ?]h fh`gh hlg_klb d kn_j_ gZijZ\e_gghklb bgl_j_kh\ b kdehgghkl_c gh fh`gh mkfZljb\Zlv \ g_f b q_jlm k\hckl\_ggmx ZgZgdZklZf >bnn_j_gpbZpby ^he`gZ mqblu\Zlv ke_^mxsb_ fhf_glu \ kemqZyo dh]^Z qm\kl\h ^he]Z ² ijhklhoZjZdl_jheh]bq_kdZyhkh[_gghklvq_eh\_dhlebqZ_lkyjh\gufkihdhcgufih\_^_gb_f _]h ij_^Zgghklv ^he]m ebr_gZ gZijy`_gghklb b y\ey_lky q_jlhc dZd [u kZfh kh[hc jZamf_xs_cky m ZgZgdZklZ `_ qm\kl\h ^he]Z khijy`_gh k [_kihdhckl\hf ihklhyggufb \hijhkZfbh lhf^hklZlhqghebkZfhhl\_j`_gghhgihklmiZ_l<_kvfZbgl_j_kghb kms_kl\_ggh k ikboheh]bq_kdhc lhqdb aj_gby lh qlh aZklj_\Zxsb_ ebqghklb h[gZjm`b\Zxl ijhy\e_gby w]hbklbq_kdboqm\kl\q_klhex[by[he_ag_gghch[b^qb\hklbZ i_^Zglbq_kdb_²ijhy\e_gby Zevljmbklbq_kdb_ \ qZklghklb qm\kl\h ^he]Z Ke_^m_l ih^q_jdgmlv qlh q_jlu aZklj_\Zgby \aZbfhk\yaZgu \ hkgh\ghf k w]hbklbq_kdbfb qm\kl\Zfb Z q_jlu khfg_gby ihklhygguo dhe_[Zgbc ZgZgdZklbq_kdb_ ² k qm\kl\Zfb Zevljmbklbq_kdh]h ihjy^dZ Q_f [hevr_ q_eh\_d dhe_[e_lky\ k\hboj_r_gbyol_fkbevg__Zevljmbklbq_kdb_qm\kl\ZaZ\eZ^_\ZxlkhagZgb_fb \ha^_ckl\mxl gZ ijbgylb_ j_r_gby ?s_ [hevr_ [jhkZ_lky \ ]eZaZ dhgljZkl ijb kjZ\g_gbb ZgZgdZklbq_kdhc ebqghklb g_ k aZklj_\Zxs_c Z k bkl_jbq_kdhc ihkdhevdm bkl_jbdb _s_ \ [hevr_c f_j_ kdehggu d w]hbafm Hgb qZklh ijbgbfZxl g_h[^mfZggu_ j_r_gby j_^dh \a\_rb\Zxl k\hb ihklmidb hklZ\Zykv \ w]hbklbq_kdhf djm]m gZijZ\e_gghklb bgl_j_kh\ dhlhjuc bf [eb`_ kf pbl khq :gZgdZklbq_kdb_ b bkl_jbq_kdb_ q_jlu i_j_k_dZxlky b k ^jm]bfbq_jlZfbbg^b\b^mZevghklbY m`_b ij_`^_aZgbfZeky\hijhkhfh lhfkfpblkhqk ² g_ y\ey_lky eb ^ebl_evgh_ jZa^mfu\Zgb_ ijb ijbgylbb j_r_gby e_]dhc nhjfhc ZgZgdZklbq_kdhc ij_^jZkiheh`_gghklb beb `_ wlh ijhklh h^gh ba k\hckl\ kn_ju qm\kl\Z b \hebIZjZee_evghk wlbfy iulZekylZd`_mklZgh\blvy\ey_lkyeb]hlh\ghklvd g_h[^mfZgguf ^_ckl\byf \ujZ`_gb_f ke_]dZ bkl_jbq_kdh]h mdehgZ beb `_ __ ke_^m_l jZkp_gb\Zlv dZd kZfhklhyl_evgh_ ijhy\e_gb_ k\hckl\Z ba kn_ju qm\kl\Z b \heb Bf_xlky b ^jm]b_ g_ykghklb lZdh]h jh^Z Kbevgh jZa\blZy h[eZklv wfhpbc m q_eh\_dZ Zdlb\babjm_l Zevljmbklbq_kdb_ qm\kl\Z ² qm\kl\h khkljZ^Zgby jZ^hklb aZ qm`mx m^Zqm qm\kl\h ^he]Z < ]hjZa^h f_gvr_c f_j_\ ih^h[guokemqZyojZa\bluklj_fe_gb_d \eZklbZeqghklvb dhjuklhex[b_\hafms_gb_ ]g_\ \ k\yab k ms_fe_gb_f kZfhex[by >ey wfhlb\ghc gZlmju hkh[_ggh oZjZdl_jgh lZdh_ k\hckl\hdZdkhqm\kl\b_ghhghfh`_ljZa\blvkyb gZ^jm]hcihq\_G_h[gZjm`b\Z_l_^bghc ]_g_lbq_kdhc hkgh\u b lZdZy q_jlZ ebqghklb dZd lj_\h`ghklv [hyaeb\hklv < ghjfZevghc kl_i_gb [hyaeb\hklv k\hckl\_ggZ fgh]bf ex^yf gh hgZ fh`_l klZlv ]hkih^kl\mxs_c gZdeZ^u\Zyk\hchli_qZlhdgZ\k_ih\_^_gb_q_eh\_dZ< wlbokemqZyog_j_^dhh[gZjm`b\Z_lky b nbabq_kdZyhkgh\Z^Zggh]hkhklhygby\ \b^_ih\ur_gghc\ha[m^bfhklb\_]_lZlb\ghcg_j\ghc kbkl_fudhlhjZy\ha^_ckl\mygZkhkm^bklmxkbkl_fmfh`_lijb\_klbd nbabq_kdhfmqm\kl\m kl_kg_gghklb kljZoZ b lhkdb <_jhylgh ebrv \ ihke_^g_f kemqZ_ dhgklZlbjm_lky l_g^_gpby i_j_rZ]gmlv]jZgbpukj_^gboijhy\e_gbc[hyaeb\hklbb \ua\ZlvZdp_glmZpbxebqghklbBaaZ [hevrh]h dhebq_kl\Z i_j_k_q_gbc g_dhlhju_ ki_pbZebklu iheZ]Zxl qlh jZkkfZljb\Zy bg^b\b^mZevgu_ q_jlu ex^_c ke_^m_l hldZaZlvky hl \kydbo deZkkbnbdZpbc b ebrv \ h[s_f \b^_ hibku\Zlv gZ[ex^Z_fh_ Y ijb^_j`b\Zxkv bghc lhqdb aj_gby Z ke_^h\Zl_evgh fh]m h`b^Zlvmij_dZ\ ihiuldZo\lbkgmlv\ ko_fmlhqlhg_ih^^Z_lkyq_ldhfmhij_^_e_gbxB \k_ lZdby m[_`^_gqlhkms_kl\mxlhkgh\gu_q_jluq_eh\_q_kdhcbg^b\b^mZevghklbkms_kl\mxl h[t_dlb\gh b qlh \ kbem wlh]h gZmdZ ^he`gZ klj_fblvky d bo \u^_e_gbx b hibkZgbx ?kl_kl\_gghwlhk\yaZghk [hevrbfbljm^ghklyfb\_^vj_qvb^_lg_h lhfqlh[uijbkihkh[blv jZajhag_gguc fZl_jbZe d [he__ beb f_g__ ijb_fe_fhc ko_f_ Z h lhf qlh[u \kdjulv h[t_dlb\ghkms_kl\mxsb_e_`Zsb_\ hkgh\_ihgylby©ebqghklvªq_jlug_kfhljygZgZebqb_ bo fgh]hqbke_gguo i_j_k_q_gbc :dp_glmbjh\Zggu_ q_jlu ^Ze_dh g_ lZd fgh]hqbke_ggu dZd \Zjvbjmxsb_bg^b\b^mZevgu_:dp_glmZpby²wlh\ kmsghklbl_`_bg^b\b^mZevgu_q_jlu gh h[eZ^Zxsb_ l_g^_gpb_c d i_j_oh^m \ iZlheh]bq_kdh_ khklhygb_ :gZgdZklbq_kdb_ iZjZghcyevgu_b bkl_jbq_kdb_q_jlufh]ml[ulvijbkmsb\ dZdhclhf_j_kh[kl\_gghex[hfm q_eh\_dm gh ijhy\e_gby bo lZd gbqlh`gu qlh hgb mkdhevaZxl hl gZ[ex^_gby Ijb [hevr_c \ujZ`_gghklb hgb gZdeZ^u\Zxl hli_qZlhd gZ ebqghklv dZd lZdh\mx b gZdhg_p fh]ml ijbh[j_lZlv iZlheh]bq_kdbc oZjZdl_jjZajmrZy kljmdlmjm ebqghklb Ebqghklb h[hagZqZ_fu_ gZfb dZd Zdp_glmbjh\Zggu_ g_ y\eyxlky iZlheh]bq_kdbfb Ijb bghf lhedh\Zgbb fu [u \ugm`^_gu[uebijbclbd \u\h^mqlhghjfZevgufke_^m_lkqblZlvlhevdhkj_^g_]hq_eh\_dZ Z \kydh_hldehg_gb_hllZdhck_j_^bgukj_^g_cghjfu^he`gu[ueb[uijbagZlviZlheh]b_c Wlh \ugm^beh [u gZk \u\_klb aZ ij_^_eu ghjfu l_o ebqghkl_c dhlhju_ k\hbf k\h_h[jZab_f hlq_leb\h\u^_eyxlkygZnhg_kj_^g_]hmjh\gyH^gZdh\ wlmjm[jbdmihiZeZ[ub lZdZl_]hjby ex^_ch dhlhjuo]h\hjyl©ebqghklvª\ iheh`bl_evghfkfuke_ih^q_jdb\Zyqlhhgbh[eZ^Zxl yjdh \ujZ`_gguf hjb]bgZevguf ikbobq_kdbf kdeZ^hf ?keb m q_eh\_dZ g_ gZ[ex^Zxlky ijhy\e_gby l_o k\hckl\ dhlhju_ \ ©[hevrbo ^haZoª ^Zxl iZjZghcyevgmx ZgZgdZklbq_kdmx bkl_jbq_kdmx ]bihfZgbZdZevgmx beb km[^_ij_kkb\gmx dZjlbgm lh lZdhc kj_^gbc q_eh\_d fh`_l [_ah]h\hjhqgh kqblZlvky ghjfZevguf Gh dZdh\ \ lZdhf kemqZ_ ijh]gha gZ [m^ms__ dZdh\Z hp_gdZ khklhygby" Fh`gh kdZaZlv g_ dhe_[eykv qlh lZdh]h q_eh\_dZ g_ h`b^Z_l g_jh\guc `bag_gguc imlv kms_kl\Z [he_ag_ggh]h kh kljZgghklyfb g_m^ZqgbdZ h^gZdh fZeh\_jhylgh b lh qlh hg hlebqblky \ iheh`bl_evghf hlghr_gbb < Zdp_glmbjh\Zgguo `_ ebqghklyoihl_gpbZevghaZeh`_gudZd\hafh`ghklbkhpbZevghiheh`bl_evguo^hklb`_gbclZd b khpbZevgh hljbpZl_evguc aZjy^ G_dhlhju_ Zdp_glmbjh\Zggu_ ebqghklb ij_^klZxl i_j_^ gZfb \ hljbpZl_evghf k\_l_ lZd dZd `bag_ggu_ h[klhyl_evkl\Z bf g_ [eZ]hijbylkl\h\Zeb gh \iheg_\hafh`ghqlhih^\ebygb_f^jm]boh[klhyl_evkl\hgbklZeb[ug_aZmjy^gufbex^vfb AZklj_\ZxsZyebqghklvijb g_[eZ]hijbylguoh[klhyl_evkl\Zofh`_lklZlvg_k]h\hjqb\ufg_ l_jiysbf \hajZ`_gbc kihjsbdhf gh _keb h[klhyl_evkl\Z [m^ml [eZ]hijbylkl\h\Zlv lZdhfm q_eh\_dmg_bkdexq_ghqlhhghdZ`_lkyg_mlhfbfufb p_e_mklj_fe_ggufljm`_gbdhf I_^Zglbq_kdZy ebqghklv ijb g_[eZ]hijbylguo h[klhyl_evkl\Zo fh`_l aZ[he_lv g_\jhahf gZ\yaqb\uo khklhygbc ijb [eZ]hijbylguo ² ba g__ \uc^_l h[jZaph\uc jZ[hlgbd k [hevrbf qm\kl\hf hl\_lkl\_gghklb aZ ihjmq_ggh_ ^_eh >_fhgkljZlb\gZy ebqghklv fh`_l jZau]jZlv i_j_^gZfbj_glgucg_\jhaijbbguoh[klhyl_evkl\ZohgZkihkh[gZ\u^_eblvky\u^Zxsbfbky l\hjq_kdbfb ^hklb`_gbyfb < p_ehf ijb hljbpZl_evghc dZjlbg_ \jZqb kdehggu mkfZljb\Zlv ikbohiZlbx ijb iheh`bl_evghc ² kdhj__ Zdp_glmZpbx ebqghklb Ih^h[guc ih^oh^ \ ^hklZlhqghc f_j_ hijZ\^Zg ihkdhevdm e_]dZy kl_i_gv hldehg_gbc k\yaZgZ qZs_ k iheh`bl_evgufbijhy\e_gbyfbZ \ukhdZy²k hljbpZl_evgufbH[hagZq_gb_©iZlheh]bq_kdb_ ebqghklbª ke_^h\Zeh [u ijbf_gylv ebrv \ hlghr_gbb ex^_c dhlhju_ hldehgyxlky hl klZg^ZjlZ b lh]^Z dh]^Z \g_rgb_ h[klhyl_evkl\Z ij_iylkl\mxsb_ ghjfZevghfm l_q_gbx `bagbbkdexqZxlkyH^gZdhg_h[oh^bfhmqblu\ZlvjZaebqgu_ ih]jZgbqgu_ kemqZb @_kldhc ]jZgbpug_lb f_`^mghjfZevgufbkj_^gbfbex^vfbb Zdp_glmbjh\ZggufbebqghklyfbA^_kv lZd`_ g_ ohl_ehkv [u ih^oh^blv d wlbf ihgylbyf kebrdhf madh l _ g_\_jgh [ueh [u gZ hkgh\ZgbbdZdhceb[hf_edhchkh[_gghklbq_eh\_dZlhlqZk`_mkfZljb\Zlv\ g_fhldehg_gb_hl ghjfu Gh ^Z`_ ijb ^hklZlhqgh rbjhdhf ih^oh^_ d lhfm dZdb_ dZq_kl\Z fh`gh gZau\Zlv klZg^Zjlgufb ghjfZevgufb g_ [jhkZxsbfbky \ ]eZaZ \k_ `_ kms_kl\m_l g_fZeh ex^_c dhlhjuo ijboh^blky hlg_klb d Zdp_glmbjh\Zgguf ebqghklyf Kh]eZkgh h[ke_^h\Zgbyf ijh\_^_gguf \ ;_jebgkdhc debgbd_ Abll_ kj_^b \ajhkeuo b =mlvyjhf kj_^b ^_l_c gZk_e_gb_ gZr_ckljZgu\h\kydhfkemqZ_gZk_e_gb_;_jebgZwlhgZ Zdp_glmbjh\Zggu_ebqghklbb gZ ² klZg^Zjlguc lbi ex^_c < hlghr_gbb gZk_e_gby dZdh]heb[h bgh]h ]hkm^Zjkl\Z ^Zggu_ fh]ml hdZaZlvky kh\_jr_ggh ^jm]bfb G_f_pdhc gZpbhgZevghklb gZijbf_j ijbibku\Zxl g_ lhevdh lZdmx e_klgmx q_jlm dZd p_e_mklj_fe_gghklv gh b ^h\hevgh g_ijbylgmx ² dZjv_jbaf Fh`_l [ulv wlbf fh`gh h[tykgblv qlh Abll_ gZreZ kj_^b h[ke_^h\Zgguo _x ex^_c fgh]h aZklj_\Zxsbo b i_^Zglbq_kdbo ebqghkl_c Gb`_ y ih^jh[gh baeZ]Zxk\h_ihgbfZgb_Zdp_glmbjh\ZgghcebqghklbH^gZdhihkdhevdmijbwlhfy \k_\j_fy h[jZsZxkv b d ebqghklyf iZlheh]bq_kdbf ke_^h\Zeh [u ^_lZevgh baeh`blv kmsghklv fhbo jZkoh`^_gbc \h fg_gbyo k g_dhlhjufb ba\_klgufb mq_gufb aZgbfZxsbfbky b^_glbqgufb ijh[e_fZfb Ij_^\Zjbl_evgh mdZ`m qlh ;_j]fZg aZgbfZykv dhf[bgbjh\Zggufb iZlheh]bq_kdbfb q_jlZfb hlf_qZeZ gZkdhevdh gZrb \a]ey^u kh\iZ^Zxl kh ko_fhc ij_^eZ]Z_fhc D RgZc^_jhf < g_[hevrhc dgb`d_ ©>_lkdb_ g_\jhau b ebqghklv j_[_gdZª y baeh`be k\hb \a]ey^u ih wlbf \hijhkZf [he__ ihegh ihwlhfm a^_kv h]jZgbqmkv g_kdhevdbfb djZldbfb aZf_qZgbyfb I_^Zglbq_kdb_ beb ZgZgdZklbq_kdb_ ebqghklb dhlhjuo D RgZc^_j \hh[s_g_\u^_ey_lij_^klZ\eyxlkh[hcgZfhc\a]ey^hkh[h\Z`gmx]jmiimdZd\ kbemk\h_c jZkijhkljZg_gghklblZdb \k\yabk hq_gvrbjhdbffZkrlZ[hfhldehg_gbchlkj_^g_]hmjh\gy Lh`_fh`ghkdZaZlvb h^_fhgkljZlb\guobebbkl_jbq_kdboebqghklyodhlhjuo\ ihke_^g__ \j_fyjy^mq_guolh`_hldZau\Zxlky\u^_eylv\ hkh[mx]jmiimF_`^ml_fZgZgdZklbq_kdb_b bkl_jbq_kdb_ q_jlu kihkh[gu kbevgh hljZ`Zlvky gZ ebqghklb q_eh\_dZ Ihgylb_ ©iZjZghbq_kdbcª y ljZdlmx g_kdhevdh bgZq_ q_f [ueh ijbgylh ^h kbo ihj lZd dZd gZb[he__ kms_kl\_gghc klhjhghc _]h kqblZx kdehgghklv d aZklj_\Zgbx Znn_dlZ Y g_ \\h`m \ k\hx kbkl_fZlbdm g_klhcdbo g_mklhcqb\uo ebqghkl_c lZd dZd \ hibkZgbb bo g_ gZoh`m _^bgkl\Z kljmdlmju ebqghklb dh]^Z qblZ_rv h lZdbo ex^yo \b^brv i_j_^ kh[hc lh bkl_jbq_kdbo lh ]bihfZgbZdZevguolhwibe_ilhb^guoebqghkl_c>Z`__keb[uih^g_klhcdhklvxihgbfZehkv h^ghebrvkeZ[h\heb_\k_jZ\ghy g_kfh][uhlg_klbwlmq_jlmd Zdp_glmZpbbZ hlg_k[u__ lhevdh d \ZjbZpbyf bg^b\b^mZevghklb \_^v keZ[h\heb_ gbdh]^Z g_ fh`_l ^hklb]gmlv lZdhc kl_i_gbijbdhlhjhcfh`gh[ueh[u]h\hjblvh gZdeZ^u\Zgbbhli_qZldZgZebqghklv\ p_ehf Ke_^m_l hlf_lblv qlh \ mkeh\byo ijbf_gy_fhc gug_ ^bZ]ghklbdb g_mklhcqb\hklv y\ey_lky gZb[he__ jZkijhkljZg_gghc nhjfhc ikbohiZlbb Wlh k\yaZgh k l_f qlh \ ihgylb_ g_mklhcqb\hklb \dexqZxl ^hihegbl_evgh _s_ fgh`_kl\h iZlheh]bq_kdbo q_jl ebqghklb \ lh `_\j_fykh[kl\_gghkeZ[h\heb_kiehrvb jy^hfd wlhfmihgylbxg_hlghkyl < ]eZ\Zoh[Zdp_glmZpbbebqghklby g_jZkkfZljb\Zxb [_kqm\kl\_gghklvdhlhjmxbgh]^Z h[hagZqZxl l_jfbghf ]_[hb^ < wlbo kemqZyo j_qv b^_l km^y ih ihke_^g_fm l_jfbgm h eZl_glghf ^mr_\ghf aZ[he_\Zgbb Qlh `_ dZkZ_lky h[uqghc oheh^ghklb qm\kl\ lh k g_x fu klZedb\Z_fkylhevdhijb\ZjbZpbyooZjZdl_jZZ g_ijb_]hZdp_glmZpbb =bi_jlbfbq_kdb_ ^bklbfbq_kdb_ b pbdehlbfbq_kdb_ ebqghklb jZaebqZxlky fghc ih Dj_qf_jmh^gZdhgZ^hh]h\hjblvqlhy jZkp_gb\ZxbodZdebqghkl_ch[eZ^ZxsboeZ[bevguf l_fi_jZf_glhfZ ihwlhfmihklhygghdhe_[exsbokyf_`^m]bi_jlbfbq_kdbfb ^bklbfbq_kdbf khklhygb_f Kbglhggufb y kqblZx gZijhlb\ lZdbo ex^_c dhlhju_ h[eZ^Zxl dZd ijZ\beh kj_^gbf mjZ\gh\_r_gguf gZkljh_gb_f Ba h[s_c fZkku pbdehlbfbq_kdbo ebqghkl_c y \u^_eyxZnn_dlb\gheZ[bevguokdehgguod ihklhyggufqj_af_jgufdhe_[ZgbyfgZkljh_gby dZd [u f_`^m ^\mfy ihexkZfb AZ kq_l h[eZklb fure_gby b ikbohfhlhjbdb ke_^h\Zeh [u m\_ebqblv dhebq_kl\h ki_pbZevguo ]jmii Zdp_glmZpbb l_fi_jZf_glZ lZd dZd g_dhlhju_ ebpZ h[gZjm`b\Zxl hkh[h_ \ha[m`^_gb_ beb lhjfh`_gb_ bf_ggh \ ijhp_kk_ fure_gby k q_f k\yaZgZ b bo ikbohfhlhjbdZ \ qZklghklb h`b\e_gghklv beb \yehklv fbfbdb Wlb y\e_gby ih^jh[gh hibkZeZ Ljhklhjnn ;he__ ^_lZevgh a^_kv ke_^m_l aZgylvky bgljh\_jlbjh\Zggufb b wdkljZ\_jlbjh\Zggufbebqghklyfbihkdhevdm \ pblbjm_fuo fghcjZ[hlZo lZdhc bgnhjfZpbb g_l< wlbihgylbyy lZd`_\deZ^u\Zxkfukeg_kdhevdhhlebqguchlh[s_ijbgylh]hohlyhgb b [_alh]hebrvqZklbqghkhojZgbebkh^_j`Zgb_dhlhjh_\ gbo\ k\h_\j_fy\deZ^u\ZeXg]< fh_f ij_^klZ\e_gbb wlb ihgylby l_kgh k\yaZgu k i_jbh^hf i_j_oh^gh]h \hajZklZ l _ k i_jbh^hf nhjfbjh\Zgby m j_[_gdZ ikbobdb \ajhkeh]h q_eh\_dZ kf pbl khq k ² <djZlp_ baeh`m k\hb \a]ey^u ih ^Zgghfm \hijhkm J_[_ghd wdkljZ\_jlbjh\Zg hg h[jZs_g d ijhp_kkZf\ha^_ckl\mxsbfgZ_]hqm\kl\Zb j_Z]bjm_lgZgbokhhl\_lkl\mxsbfih\_^_gb_f fZeh jZa^mfu\Zy <ajhkeuc ih kjZ\g_gbx k j_[_gdhf bgljh\_jlbjh\Zggh]h ]hjZa^h f_gvr_ aZgbfZ_l hdjm`Zxs__ \g_rgbc fbj j_Zdpbb _]h ]hjZa^h f_g__ g_ihkj_^kl\_ggu hg bf__l h[udgh\_gb_ij_^\Zjbl_evghjZafureylvgZ^ihklmidhfIjbwdkljZ\_jlbjh\Zgghklb\ fukeyo b \ih\_^_gbbij_h[eZ^Z_lfbj\hkijbylbbijbbgljh\_jlbjh\Zgghklb²fbjij_^klZ\e_gbc M wdkljZ\_jlbjh\Zggh]h \ajhkeh]h q_eh\_dZ jZ^hklv ijbgylby j_r_gby ]hjZa^h bgl_gkb\g__ b[h hg [hevr_ khkj_^hlhq_g gZ \g_rg_f hdjm`Zxs_f _]h fbj_ b ihwlhfm \ agZqbl_evgh f_gvr_c kl_i_gb jZkkm`^Z_l \a\_rb\Z_l jZaebqgu_ \hafh`ghklb m bgljh\_jlbjh\Zggh]h ² ij_h[eZ^Z_l l_g^_gpby ij_^\Zjbl_evgh h[^mfu\Zlv b hp_gb\Zlv j_r_gby >ey wdkljZ\_jlbjh\Zggh]h q_eh\_dZ oZjZdl_jgh ijhy\e_gb_ qbklh \g_rg_c Zdlb\ghklb g_ aZ\bkys_chl fukebl_evguoijhp_kkh\ l _ agZqbl_evgh [hevrZy bfimevkb\ghklv ih\_^_gby wlZ q_jlZ lZd`_ kjh^gb ^_lkdhc ikboheh]bb G_j_rbl_evghklv bgljh\_jlbjh\Zggh]h q_eh\_dZ k\yaZgZk mkbe_gghcjZ[hlhcfukebghg_kfhljygZwlhhgf_g__kihkh[_ghsmlblvjZ^hklv\ k\yab k ijbgylb_f j_r_gby < ^_lkdhf \hajZkl_ wdkljZ\_jlbjh\Zgghklv m h[hbo iheh\ bf__l h^bgZdh\mx nhjfm \ujZ`_gby < hljhq_kdhf \hajZkl_ ih\hjhl d bgljh\_jlbjh\Zgghklb m fZevqbdh\ ghkbl agZqbl_evgh [he__j_adbcoZjZdl_j q_f m ^_\hq_d Ihwlhfm `_gsbgZ \k_]^Z [hevr_ k\yaZgZ k h[t_dlb\gufb kh[ulbyfb `bagb [hevr_ aZ\bkbfZ hl gbo b \ [hevrbgkl\_ kemqZ_\h[eZ^Z_l[he__ijZdlbq_kdbfmfhfH^gZdhijbgylvg_h[^mfZggh_j_r_gb_gZ\_yggh_ fhf_glhf b ^_ckl\h\Zlv g_ \a\_kb\ ihke_^kl\bc ² wlh \k_]^Z j_ZevgZy hiZkghklv ^ey g__ Fm`qbgZemqr_ihgbfZ_l\aZbfhk\yavy\e_gbcb bklbggu_g_\k_]^Zhq_\b^gu_ijbqbgubo hg [hevr_ kdehg_g d h[h[s_gbyf _]h fukev jZ[hlZ_l \ khhl\_lkl\mxs_f gZijZ\e_gbb [he__ wnn_dlb\ghHiZkghklv`_^eyfm`qbguaZdexqZ_lky\ lhfqlhhgimkdZ_lky\ l_hj_lbq_kdb_ jZkkm`^_gby b mimkdZ_l l_ \hafh`ghklb dhlhju_ lj_[mxl g_aZf_^ebl_evguo ^_ckl\bc <ke_^kl\b_ wlh]h jZaebqby g_evay h^bgZdh\h jZkp_gb\Zlv Zdp_glmbjh\Zggmx wdkljZ\_jlbjh\Zgghklv b bgljh\_jlbjh\Zgghklv m fm`qbg b m `_gsbg Lh qlh ^ey `_gsbgu y\ey_lkyghjfhc^eyfm`qbgu²wdkljZ\_jlbjh\Zgghklvb gZh[hjhllhqlhm fm`qbgke_^m_l kqblZlv ghjfhc m `_gsbg gZ^h jZkkfZljb\Zlv dZd bgljh\_jlbjh\Zgghklv J_r_gb_ \ wdkljZ\_jlbjh\Zgghf ieZg_ fh`_l [ulv f_g__ j_Zebklbqguf b f_g__ h[t_dlb\guf q_f \ bgljh\_jlbjh\Zgghfihkdhevdmihke_^g__ijbgbfZ_fh_ihke_hkgh\Zl_evgh]hb \k_klhjhgg_]h \a\_rb\Zgby \k_]^Z [u\Z_l [he__ a^jZ\uf lj_a\uf Y kh]eZk_g k Xg]hf dh]^Z hg ]h\hjbl ©WdkljZ\_jlbjh\Zggu_ gZlmju hjb_glbjmxlky gZ ^Zggu_ dhgdj_lgu_ nZdlu bgljh\_jlbjh\Zggucq_eh\_d\ujZ[Zlu\Z_lkh[kl\_ggh_fg_gb_dhlhjh_hgdZd[u©\^\b]Z_lª f_`^mkZfbfkh[hcb h[t_dlb\ghc^ZgghklvxªHklZgh\exkvgZlhfh q_fXg]ibr_l^Zevr_ ©=h\hjyh[bgljh\_jlbjh\Zgghklbgm`ghbf_lv\ \b^m_s_b ^jm]hclbifure_gbydhlhjuc kh[kl\_ggh _s_ kdhj__ fh`_l ih^hclb ih^ ^Zggmx jm[jbdm Z bf_ggh lbi dhlhjuc g_ hjb_glbjm_lky gb gZ g_ihkj_^kl\_gguc h[t_dlb\guc hiul gb gZ h[sb_ b^_b ihemq_ggu_ ihkj_^kl\hf h[t_dlb\guo \udeZ^hdª BlZd Xg] a^_kv ijboh^bl d \u\h^m qlh g_ lhevdh dhgdj_lgZy hjb_glZpby gZ h[t_dl bkdexqZ_l bgljh\_jlbjh\Zgghklv gh b lZdb_ b^_b dhlhju_ ©hllZedb\Zxlkyhlh[t_dlZª<gZqZe_Xg]]h\hjbeqlhwdkljZ\_jlbjh\Zggucq_eh\_dijb_fe_l h[t_dlb\gmx ^_ckl\bl_evghklv lZdhc dZd hgZ _klv bgljh\_jlbjh\Zgguc `_ \gmlj_gg_ i_j_jZ[Zlu\Z_l __ \ ihke_^mxs_f hg \u^\b]Z_l iheh`_gb_ kh]eZkgh dhlhjhfm bgljh\_jlbjh\Zggucq_eh\_d\hh[s_\k_h[t_dlb\gh_\hkijbgbfZ_lih^km[t_dlb\gufagZdhf ©Y ijbf_gyxl_jfbg©km[t_dlb\gucnZdlhjªihhlghr_gbxd l_fikboheh]bq_kdbfZdpbyfb j_Zdpbyf dhlhju_ bkiulu\Zy \ha^_ckl\b_ h[t_dlZ ihjh`^Zxl gh\uc nZdl ikbobq_kdh]h ihjy^dZª >Ze__ _s_ ykg__ baeZ]Z_lky qlh bf_ggh ij_^klZ\ey_l kh[hc fure_gb_ \ bgljh\_jlbjh\ZgghfieZg_©G_evayhljbpZlv\ ih^h[guokemqZyoqlhb^_y[_j_lk\h_gZqZeh\ g_ykghf b kmfjZqghf kbf\he_ LZdhc b^__ ijbkms g_dbc fbnheh]bq_kdbc oZjZdl_j \ h^ghf kemqZ_ wlm b^_x bklhedh\u\Zxl dZd ijhy\e_gb_ hjb]bgZevghklb \ ^jm]hf om^r_f ² dZd qm^Zq_kl\h >_eh \ lhf qlh ZjoZbq_kdbc kbf\he ^ey ki_pbZebklZ mq_gh]h g_agZdhfh]h k fbnheh]bq_kdbfb fhlb\Zfb \k_]^Z dZ`_lky aZ\mZebjh\Zggufª Dhgdj_lgh wlh hagZqZ_l qlh g_fZeh_dhebq_kl\hb^_cfh`ghk\yaZlvlhevdhk wdkljZ\_jlbjh\ZgghklvxDjhf_lh]hqblZ_f ©< ijhp_kk_ ijZdlbq_kdh]h fure_gby m dhff_jkZglZ l_ogbdZ _kl_kl\hbkiulZl_ey fukev g_ fh`_lg_[ulvgZijZ\e_gZgZh[t_dlG_klhevykghcij_^klZ\ey_lkydZjlbgZlZf]^_j_qvb^_l h fure_gbbnbehkhnZaZgbfZxs_]hkyh[eZklvxb^_c< wlhfkemqZ_g_h[oh^bfhij_`^_\k_]h mklZgh\blv g_ y\eyxlky eb ^Zggu_ b^_b ebrv Z[kljZdpbyfb \hagbdZxsbfb \ ijhp_kk_ ihagZ\Zgbyg_dh_]hh[t_dlZ?kebwlhlZdlhkhhl\_lkl\mxsb_b^_bij_^klZ\eyxlkh[hxg_qlh bgh_ dZd h[sb_ ihgylby \ukr_]h ihjy^dZ \dexqZxsb_ \ k_[y g_dmx kmffm h[t_dlb\guo nZdlh\ ?keb `_ b^_b g_ _klv Z[kljZdpbb ba g_ihkj_^kl\_ggh ihemq_ggh]h hiulZ lh lZd`_ ke_^m_l mklZgh\blv g_ i_j_gylu eb hgb hldm^Zeb[h ih ljZ^bpbb b g_ aZbfkl\h\Zgu eb ba hdjm`Zxs_c bgl_ee_dlmZevghc kj_^u ?keb ^Z lh b wlb b^_b hlghkylky d dZl_]hjbb h[t_dlb\ghc ^Zgghklb Z l_f kZfuf b wlh fure_gb_ gZ^h [m^_l ijbagZlv wdkljZ\_jlbjh\Zggufª Y kqblZx fukebl_evgmx jZ[hlm _kl_kl\hbkiulZl_ey wdkljZ \_jlbjh\Zgghc ebrv \ l_o kemqZyo dh]^Z _]h ^_yl_evghklv ghkbl oZjZdl_j kh[bjZgby dhee_dpbhgbjh\Zgby Q_f [hevr_ hg fuke_ggh i_j_jZ[Zlu\Z_l gZ[ex^Z_fh_ l_f [he__ _]h fha]h\Zy ^_yl_evghklv ijb[eb`Z_lky d ieZgm bgljh\_jkbb Nbehkhnm `_ jZajZ[Zlu\Zxs_fm hij_^_e_ggu_ b^_b y ijbibku\Zx lhevdh bgljh\_jlbjh\Zgguc oZjZdl_j mfkl\_gghc ^_yl_evghklb^Z`_\ l_okemqZyodh]^Zoh^_]hfukebhkgh\u\Z_lkygZh[t_dlb\guobklhqgbdZo beb nZdlZo ?keb y g_kfhljy gZ jZkoh`^_gby \h fg_gbyo k Xg]hf ihevamxkv _]h l_jfbgheh]b_c lh wlh ijhbkoh^bl ih ^\mf ijbqbgZf <hi_j\uo \ f_^bpbgkdhc ikboheh]bb wlbl_jfbgumdhj_gbebkv[hevr_\ lhfagZq_gbbdhlhjh_ijbibku\Z_lkybffghx<h\lhjuo ijb ijZdlbq_kdhf ih^oh^_ d \hijhkm g_ gZ[ex^Z_lky klhev [hevrh]h jZkoh`^_gby dZd \ h[eZklb l_hjbb Q_f dhgdj_lg__ ijbf_ju ijb\h^bfu_ Xg]hf l_f [hevr_ y kdehg_g k gbf kh]eZkblvky GZijbf_j Xg] ibr_l ©H^bg q_eh\_d lhevdh mkeurZ\ qlh gZ mebp_ oheh^gh lhlqZk `_ [jhkZ_lky gZ^_\Zlv iZevlh ^jm]hc kqblZ_l wlh baebrgbf ba l_o khh[jZ`_gbc qlh ©gm`gh aZdZeylvkyª h^bg \hkobsZ_lky gh\uf l_ghjhf ih lhc ijbqbg_ qlh \k_ ©gZ g_f ihf_rZguª^jm]hc\h\k_bfg_\hkobsZ_lkyghg_bal_okhh[jZ`_gbcqlhhg_fmg_gjZ\blky Z ihlhfmqlh]em[hdhm[_`^_g_keb\k_q_flh\hkobsZxlkylhwlhkh\k_f_s_g_agZqblqlh ^Zggh_ y\e_gb_ aZkem`b\Z_l \hkobs_gby h^bg ihdhjy_lky kms_kl\mxsbf h[klhyl_evkl\Zf b[h dZd ihdZau\Z_l _]h hiul qlheb[h ^jm]h_ \k_ jZ\gh g_\hafh`gh ^jm]hc `_ m\_j_g qlh imklv lZdhc j_amevlZl [ue m`_ lukyqm jZa gh lukyqZ i_j\uc kemqZc fh`_l ih\_jgmlvky ih bghfmªWlbijhlb\hiheh`gu_lbiuih\_^_gbyy jZkkfZljb\Zxih^l_f`_m]ehfaj_gbyqlhb Xg] Bgh]^Z ki_pbZebklu g_^hklZlhqgh q_ldh jZa]jZgbqb\Zxl wdkljZ\_jlbjh\Zgghklv b bgljh\_jlbjh\Zgghklv ih\_^_gby k q_jlZfb l_fi_jZf_glZ GZijbf_j ]bihfZgbZdZevgu_ ebqghklbihklhygghhl\e_dZxlkyhgbp_ebdhfhjb_glbjh\Zgu\ klhjhgmijhbkoh^ysbo\hdjm] kh[ulbc ]hlh\u \ ex[hc fhf_gl \dexqblvky \ gbo Bo fh`gh h[hagZqblv b dZd wdkljZ\_jlbjh\Zgguclbih^gZdhboih\_^_gb_ebr_ghki_pbnbdbwdkljZ\_jlbjh\Zgghklb :ca_gdm dhlhjh]h\ ^bZ]ghklbd_ebqghklbwdkljZ\_jlbjh\Zgghklvb bgljh\_jlbjh\Zgghklv b]jZxli_j\hkl_i_ggmxjhevgZfhc\a]ey^g_ba[_`Ze\ur_mihfygmlhchiZkghklbb \h\e_d\ qbkeh ijbagZdh\ lZd`_ b ]bihfZgbZdZevguc l_fi_jZf_gl H[ wdkljZ\_jlbjh\Zgghf q_eh\_d_ :ca_gd ibr_l ©Hg ex[bl ihrmlblv hq_gv gZoh^qb\ ihklhyggh bs_l jZa\e_q_gbc jZaghh[jZabyhghilbfbklfgh]hb hohlghkf__lkyQj_a\uqZcgh^_yl_evgucq_eh\_dkdehg_g d Z]j_kkbbqZklhbfh\eZ^_\Z_lg_l_ji_gb_G_ke_^blaZk^_j`Zgghklvx\ ijhy\e_gbbqm\kl\ gZ g_]h g_ \k_]^Z fh`gh iheh`blvkyª < wlhf hibkZgbb y\gh keurZlky ghldb ]bihfZgbZdZevgh]h l_fi_jZf_glZ dhlhjuc ijbgpbibZevgh hlebqZ_lky hl l_fi_jZf_glZ wdkljZ\_jlbjh\Zgghc ebqghklb <k_]^Z k_jv_aguc g_ kdehgguc d hilbfbafm g_ ex[ysbc kf_ylvkyq_eh\_dfh`_llhqghlZd`_ijhy\eylvijbagZdbwdkljZ\_jlbjh\Zgghklbghlhevdh_]h wdkljZ\_jlbjh\Zgghklv g_ lZd j_adh [jhkZ_lky \ ]eZaZ K ^jm]hc klhjhgu ]bihfZgbZdZevgZy ebqghklvfh`_lh[eZ^Zlvq_jlZfbbgljh\_jlbjh\Zgghklb< ^Zevg_cr_ffuijhbeexkljbjm_f wlhkhhl\_lkl\mxsbfbijbf_jZfbKms_kl\m_l_s_h^bgnZdlhjg_^hklZlhqgh]hjZa]jZgbq_gby lbih\ ijhy\eyxsbcky \ kn_j_ dhglZdlh\ f_`^m ex^vfb LZd q_eh\_d `b\msbc ij_bfms_kl\_ggh\ fbj_\hkijbylbbe_]dhmklZgZ\eb\Z_ldhglZdlk ^jm]bfbex^vfblhfmdlh [hevr_ m]em[e_g \ k_[y ljm^g__ mklZgZ\eb\Zlv hlghr_gby k hdjm`Zxsbfb H^gZdh lZdZy aZ\bkbfhklv gZ[ex^Z_lky g_ \k_]^Z Q_eh\_d bgljh\_jlbjh\Zgguc g_ ijhy\ey_l [hevrhc ]hlh\ghklb \dexqZlvky \ h[s_gb_ b \k_ `_hg fh`_l [ukljh k^jm`blvky k d_fgb[m^v lh]^Z dZd ^jm]hc q_eh\_d \k_]^Z hjb_glbjmxsbcky gZ hdjm`_gb_ `b\msbc ©gZjZkiZrdmª ijb mklZgh\e_gbb dhglZdlh\ fh`_l bkiulu\Zlv ljm^ghklb < q_f `_ ijbqbgZ wlh]h" Hq_\b^gh \ mklZgh\e_gbbg_ihkj_^kl\_ggh]hihgbfZgbyf_`^m^\mfyex^vfbk\yaZggh]h\ [hevrhcf_j_k h[eZklvx\ujZabl_evghklbwdkij_kkbbih\_^_gbyG_khfg_gghm g_dhlhjuoex^_ckms_kl\m_l hkh[uc ^Zj ^_ckl\h\Zlv gZ ^jm]bo \ujZabl_evghc jZkiheZ]Zxs_c fZg_jhc h[s_gby qmldh ihgbfZlv lhgqZcrb_ hll_gdb qm\kl\ b gZkljh_gby ^jm]bo Gh _klv b ex^b ebr_ggu_ lZdh]h ^ZjZ lZdhc qmldhklb < i_j\hf kemqZ_ dhglZdl mklZgZ\eb\Z_lky [ukljh ^Z`_ ijb gZebqbb bgljh\_jlbjh\Zgghklb\h\lhjhf²^Z`_m wdkljZ\_jlbjh\Zgguoex^_cmklZgh\e_gb_dhglZdlZ k ^jm]bfb ijhbkoh^bl lm]h Kihkh[ghklv d mklZgh\e_gbx dhglZdlh\ b hkeZ[e_ggmx dhglZdlhmklZgZ\eb\Zxsmx nmgdpbx qZklh jZkkfZljb\Zxl dZd g_qlh b^_glbqgh_ wdkljZ\_jlbjh\Zgghklb b bgljh\_jlbjh\Zgghklb khhl\_lkl\_ggh Hkh[_ggh qZklh l_jfbgu Zmlbafbeb rbahb^gucoZjZdl_jjZkrbnjh\u\ZxlkydZdbgljh\_jlbjh\Zgghklv iexk keZ[hklv dhglZdlh\ Q_ldmx ]jZgv f_`^m l_f b ^jm]bf m^Zehkv ijh\_klb Ljhklhjnn Ihke_ k^_eZgguo fghx ij_^\Zjbl_evguo aZf_qZgbc y fh]m h[jZlblvky d ^bZ]ghklbd_ Zdp_glmbjh\Zgguo ebqghkl_c >Z`_ lZf ]^_ fhy f_lh^bdZ ^bZ]ghklbdb gbq_f g_ hlebqZ_lky hl f_lh^bd ^jm]bo Z\lhjh\hibkZgb___ \k_`_g_[m^_lbaebrgbfhghihdZ`_ldZdbfh[jZahffh`ghdhgdj_lgh hl]jZgbqblvh^gmZdp_glmbjh\Zggmxebqghklvhl^jm]hcDmjlRgZc^_j]h\hjbeqlh_]hko_fm ikbohiZlbb ljm^gh ijbf_gblv gZ ijZdlbd_ lZd dZd jy^ hl^_evguo q_jl kebrdhf g_aZf_lgh i_j_oh^yl ^jm] \ ^jm]Z < kbem wlh]h hg \ [hevrbgkl\_ kemqZ_\ ij_^ihqblZ_l lZdh_ h[s__ h[hagZq_gb_ dZd ©ikbohiZlbyª Y g_ jZa \hajZ`Ze ijhlb\ lZdh]h ih^oh^Z < ^Zgghc jZ[hl_ y ohl_e[udhgdj_lghihdZaZlvqlhl_Zdp_glmbjh\Zggu_ebqghklbdhlhjuoy ij_^eZ]ZxhlebqZlv ^jm]hl^jm]Z\ [hevrbgkl\_kemqZ_\fh]ml[ulvjZkihagZgu\iheg_hlq_leb\hg_aZ\bkbfhhl lh]hb^_lebj_qvh[h^ghcZdp_glmbjh\Zgghcq_jl_bebh g_kdhevdbo>bZ]ghklbdZebqghklb ^he`gZijh\h^blvkyihgZ^e_`Zs_cf_lh^bd_ F_lh^bdZ^bZ]ghklbdbebqghklb D kh`Ze_gbxm gZkg_lihdZi_j_qgyh[yaZl_evguo\hijhkh\k ihfhsvxdhlhjuofh`gh [ueh [u hij_^_eblv Zdp_glmbjh\Zggu_ q_jlu ebqghklb Wlh h[tykgy_lky l_f qlh aZ^Z\Zy \hijhku fu \kydbc jZa ^he`gu ijbf_gylv bg^b\b^mZevguc ih^oh^ ijh\_jyy ijZ\bevgh eb gZk ihgye h[ke_^m_fuc ihklhyggh ijbklZevgh gZ[ex^Zy _]h dhgljhebjmy iheghp_gghklv _]h hl\_lh\< wlbomkeh\byoko_fZlbq_kdZyb]jZ\ \hijhkuhl\_lu[_kkfuke_ggZZ l_klu fh`gh bkihevah\Zlvebrvk [hevrbfbh]h\hjdZfbRfbr_db Fxee_jkhklZ\bebi_j_q_gv\hijhkh\ fgh]b_ ba dhlhjuo y ijbf_gyx ijb ^bZ]ghklbjh\Zgbb ebqghklb G_h[oh^bfh h^gZdh ^_eZlv ihijZ\dm gZ \hafh`gu_ hrb[db lZd dZd ihgylby k\yaZggu_ k mklZgh\e_gb_f Zdp_glmZpbb ebqghklb fh`gh bklhedh\u\Zlv kh\_jr_ggh ihjZaghfm LZd gZijbf_j gZ hij_^_e_gguc \hijhk aZ^Zgguc ^\Z`^u h^bg b lhl `_ h[ke_^m_fuc ^Z_l ijhlb\hiheh`gu_ hl\_lu \ aZ\bkbfhklb hl lh]h dZd hg \hkijbgye wlh ihgylb_ Fh`gh dhg_qgh [hevrbf dhebq_kl\hf gZ\h^ysbo b ihykgyxsbo \hijhkh\ ihkl_i_ggh k\_klb lZdb_ g_^hjZamf_gby d fbgbfmfm gh h^ghagZqgh_aZdexq_gb_k^_eZlvg_evayb[hg_\hafh`ghij_^\b^_lvaZjZg__khijh\h`^Zxsmx hl\_lfbfbdmkihkh[gmxijb^ZlvjZagh_agZq_gb_^\mfb^_glbqgufhl\_lZf< ^jm]hcjZ[hl_ ©<ujZ`_gb_ ebpZ q_eh\_dZª y ih^jh[ghhk\_lbe dZdmx \Z`gmx jhev b]jZxl gZ[ex^_gby aZ fbfbdhch[ke_^m_fh]hijb^bZ]ghklbd_ebqghklbFg__s_ijb^_lkydhkgmlvkywlh]h\hijhkZ iha^g__<Z`g_crbfbkj_^kl\Zfb^bZ]ghklbdbebqghklby\eyxlkygZ[ex^_gb_b h[ke_^h\Zgb_ ?kebm \jZqZ_klv\hafh`ghklvgZ[ex^Zlvq_eh\_dZg_ihkj_^kl\_gghbamqZlv_]hih\_^_gb_gZ jZ[hl_ b \ ^hfZrg_c h[klZgh\d_ \ k_fv_ kj_^b ^jma_c b agZdhfuo \ madhf djm]m b ijb [hevrhf dhebq_kl\_ kh[jZ\rboky lh g_khfg_ggh fh`gh khklZ\blv ij_^klZ\e_gb_ h _]h ebqghklb<ijhq_ffgh]h_b \wlhfkemqZ_hklZ_lkykdjulufb ihagZ_lkyebrvijb^ebl_evghf l_kghf dhglZdl_ k gZ[ex^Z_fuf H^gZdh ijh\_klb lsZl_evgh_ gZ[ex^_gb_ gZ^ iZpb_glZfb _^\Z eb \hafh`gh ^Z`_ \ mkeh\byo klZpbhgZjZ ihkdhevdm a^_kv ex^b gZoh^ylky g_ \ lhf hdjm`_gbb \ dhlhjhf h[uqgh ijhy\eyxlky hkh[_gghklb bo ebqghklb BgZq_ h[klhbl ^_eh k [hevgufb ^_lvfb dhlhju_ g_ k\yaZgu ihkl_evguf j_`bfhf DZd lhevdh lZdhc j_[_ghd ijb\udg_l d h[klZgh\d_ hg gZqbgZ_l ©ijhy\eylv k_[yª ]hjZa^h \ujZabl_evg__ q_f \ajhkeuc [hevghc <gZqZe_ b j_[_ghd kl_kgy_lky gh\hc h[klZgh\db kqblZy qlh hgZ h[yau\Z_l d g_ijb\uqghfmih\_^_gbxb bkiulu\ZylZd`_ba\_klgmx[hyagvGhijhoh^bl\k_]hg_kdhevdh ^g_c b j_[_ghd gZqbgZ_l qm\kl\h\Zlv k_[y \ h[klZgh\d_ klZpbhgZjZ dZd ^hfZ GZ k\hbo lh\Zjbs_cihiZeZl_j_[_ghdkfhljblg_dZdgZ[hevguo\f_kl_k dhlhjufbhgijhoh^bldmjk e_q_gbyZ ijhklhdZdgZ^jm]bo^_l_ck dhlhjufbhgklZedb\Zekyb ^hfZb gZmebp_b \rdhe_ k dhlhjufb fh`gh b]jZlv kkhjblvky b kgh\Z fbjblvky H[sZy b]jZ \ h[klZgh\d_ ^_lkdh]h ikbobZljbq_kdh]h hl^_e_gby \jy^ eb hlebqZ_lky hl ex[hc ^jm]hc ^_lkdhc b]ju JZkihjy^hd \ debgbd_ lhqgh_ \j_fy ih^t_fZ _^u hloh^Z dh kgm jZkp_gb\Z_lky fZe_gvdbfb iZpb_glZfb g_ dZd h[klZgh\dZ [hevgbpu Z dZd g_kdhevdh \b^hbaf_g_gguc ^hfZrgbc j_`bf Ihwlhfm gZ[ex^_gby \ debgbd_ gZ^ ^_lvfb ^Zxl ]hjZa^h [he__ [h]Zluc fZl_jbZe q_f gZ^ \ajhkeufb Djhf_ lh]h _keb \jZq g_ fh`_l kZf aZgylvky gZ[ex^_gbyfb gZ^ fZe_gvdbfb [hevgufb hg fh`_l ihemqblv k\_^_gby m ikboheh]Z beb m k_klju\hkiblZl_evgbpu dhlhju_ gZoh^ylky k ^_lvfb ihklhyggh ?s_ [hevr_ ^Z_l gZ[ex^_gb_ \ l_o kemqZyo dh]^Z g_ihkj_^kl\_ggh ijb hl^_e_gbb _klv rdheZ lZd dZd hq_gv \Z`gh gZ[ex^Zlv ^_l_c b \ rdhevghc h[klZgh\d_ Hlghr_gb_\ajhkeh]hq_eh\_dZd ljm^md ljm^h\hc^_yl_evghklbklhev\Z`gh_^eykm`^_gbyh ebqghklb\ p_ehf\h\j_fyij_[u\Zgby\ debgbd__kl_kl\_gghg_fh`_l\uy\blvkyljm^h\Zy ^_yl_evghklvj_[_gdZ²wlh _]hhlghr_gb_ d rdhevguf aZgylbyf _]hjZ[hlZ gZ^ ^hfZrgbfb aZ^Zgbyfb LZdbf h[jZahf fh`gh hij_^_eblv dZd j_[_ghd kijZ\ey_lky k ihklZ\e_gghc i_j_^ gbfaZ^Zq_cdZdhghlghkblkyd h[yaZgghklyfgZkdhevdh\Z`gufklbfmehfy\ey_lky^eyg_]h khj_\gh\Zgb_Gh_kebm j_[_gdZfh`ghfgh]b_^Zggu_ihemqblviml_fgZ[ex^_gbylh\lhjZy klhjhgZ ^bZ]ghklbdb l _ h[ke_^h\Zgb_ m \ajhkeh]h ijhoh^bl [_amkeh\gh mki_rg__ q_f m j_[_gdZm ^_l_c_s_g_^hklZlhqgh\ujZ[hlZgZkihkh[ghklvd kZfhgZ[ex^_gbxihwlhfmhgbh k_[_h k\hbo\gmlj_ggboi_j_`b\Zgbyo\ khklhygbb^Zlvebrv\_kvfZih\_joghklgu_k\_^_gby < lZdbo kemqZyo fh]ml ihfhqv jZkkijhku jh^bl_e_c b \hkiblZl_e_c H^bg lbi gZ[ex^_gby \ h^bgZdh\hcf_j_\Z`_gb m^_l_cb m\ajhkeuo²wlhgZ[ex^_gb_gZ^fbfbdhc`_klbdmeypb_c b bglhgZpbyfb h[ke_^m_fh]h ?keb fu gZijbf_j ohlbf mklZgh\blv ^_ckl\bl_evgh eb h[ke_^m_fuc bkiulu\Z_l qm\kl\h i_qZeb jZ^hklb \hh^mr_\e_gby gZ^_`^u hiZk_gby jZahqZjh\Zgbyb l^dZdhggZk\ lhfaZ\_jy_llhh^gb_]hkeh\Zg_fh]mlkem`blv]ZjZglb_c Gh ih fbfbd_ fh`gh hij_^_eblv khhl\_lkl\m_l eb lh qlh ]h\hjblky bklbg_ Gbq_]h g_ \ujZ`Zxs__ ebph k\b^_l_evkl\m_l h jZ\gh^mrbb h[ke_^m_fh]h \hij_db _]h ml\_j`^_gbyf h lhfqlhhgihehgi_qZebbebgZ^_`^u>Z`_\ l_okemqZyodh]^Zijbkh[_k_^h\Zgbb]h\hjylh dZaZehkv [u ^Z\gh aZ[uluo qm\kl\Zo wlZ l_fZ h[yaZl_evgh gZoh^bl hljZ`_gb_ \ fbfbd_ b[h qm\kl\Z h`b\Zxl \gh\v dh]^Z h gbo \kihfbgZxl >Z`_ _keb \ ijZ\^b\hklb jZkkdZaZ iZpb_glZ fh`ghg_khfg_\Zlvkylhb lh]^Zihfbfbd_fh`ghhij_^_eblvgZkdhevdh]em[hdhaZljhgmeh q_eh\_dZ hibku\Z_fh_bf qm\kl\h gZijbf_j ^_ckl\bl_evgh eb ihl_jy [ebadh]h jh^kl\_ggbdZ lZd kbevgh ihljykeZ _]h dZd hg m\_jy_l Beb gZh[hjhl q_eh\_d ohq_l kdjulv h]hjq_gb_ beb ^hkZ^m b aZy\ey_l qlh ©\k_ wlh ^Z\gh aZ[ulhª < lZdbo kemqZyo ih fbfbd_ g_j_^dh fh`gh hij_^_eblv qlh h]hjq_gb_ g_ ijhreh qlh hgh fmqZ_l q_eh\_dZ b ihgug_ BglhgZpbb lZd`_ qZklh iha\heyxl km^blv h lhf qlh ]h\hjblky [he__ \_jgh q_f kZfb keh\Z <ujZ`_gb_ k dhlhjuf ijhbaghkylky njZau fh^meypbb ]hehkZ b]jZxl kms_kl\_ggmx jhev Bgh]^Z m^Z_lky ©ih^kemrZlvª\a^hobeb^Z`_klhgdhlhju_\u^Zxllhqlhkeh\ZfbihdZaZlvg_ohlyl;hevrh_ agZq_gb_ bf__l b ih^q_jdb\Zgb_ fbfbdhc b ]hehkhf lh]h beb bgh]h keh\Z keh\ Bgh]^Z ba jZkkdZaZh[ke_^m_fh]hfuba\e_dZ_f]hjZa^hf_gvr_q_fbakhijh\h`^Zxs_cjZkkdZafbfbdb H q_f [u gb reZ j_qv fbfbdZ b bglhgZpby fh]ml mkbeblv beb hkeZ[blv kdZaZggh_ Hgb `_ fh]mlihfhqvjZah[jZlvky\ lhfm\_j_gebiheghklvxh[ke_^m_fuc\ khh[sZ_fhfbebdh_\ q_f khfg_\Z_lky Ex[h_ ©^Zª ex[h_ ©g_lª \ ieZg_ qbklh keh\_kgh]h fZl_jbZeZ dZd [m^lh h^ghagZqgu gh lhg b fbfbdZ iha\heyxl ij_^iheZ]Zlv b ^jm]h_ agZq_gb_ ^Z`_ ijhlb\hiheh`gh_ ?keb q_eh\_d ]h\hjbl qmlvqmlv g_j_rbl_evgh _keb hg ihqlb g_aZf_lgh jZkly]b\Z_lkeh\Zlhwlhfh`_lkem`blvagZdhfqlh]em[hdh\ _]hkhagZgbb`b\_lkhfg_gb_\ kdZaZgghf G_m\_j_gghklv \ujZ`Z_lky b fbfbq_kdb ² fu \b^bf \hijhrZxsbc bsmsbc \a]ey^bgh]^Zihemhldjulucjhlk\b^_l_evkl\mxsb_h lhfqlh\hijhkbeb\ukdZau\Zgb__s_ g_^h\_^_gu^hdhgpZLml^Z`_g_lj_[m_lkyhkh[h]hij_^\Zjbl_evgh]hbamq_gbyfbfbdbhgZ dZd [u kZfZ aZy\ey_l h k\h_c ^bZ]ghklbq_kdhc kbe_ Z fu \dexqZ_f ihemq_ggu_ k\_^_gby \ h[s__km`^_gb_h[h[ke_^m_fhf LZdbf h[jZahf gZ[ex^_gby aZ fbfbq_kdhc `_klbdmeypbhgghc b nhgbq_kdhc kbkl_fhc \ujZabl_evguo kj_^kl\ fh`gh kqblZlv \Z`guf ih^kihjv_f ijb ^bZ]ghklbd_ ebqghklb GZc^mlkydhg_qgh\jZqbdhlhju_khqlmlwlmf_lh^bdmfZeh^hklh\_jghcY `_gZijhlb\ohl_e [u ih^q_jdgmlv qlh gZ[ex^_gby aZ fbfbdhc ² gZb[he__ ^hklh\_jguc ba \k_o f_lh^h\ dhlhju_ fh`gh ijb\e_qv ^ey ^bZ]ghklbjh\Zgby q_eh\_q_kdhc ebqghklb b[h a^_kv qbklh ^moh\gh_ kh^_j`Zgb_ gZoh^bl g_ihkj_^kl\_ggh_ \g_rg__ \ujZ`_gb_ dhlhjh_ lZd`_ g_ihkj_^kl\_ggh fh`_l [ulv \hkijbgylh ^jm]bf q_eh\_dhf h q_f y m`_ ibkZe \ k\h_c fhgh]jZnbb?kebgZijbf_jq_eh\_d\ dZdhceb[hkblmZpbbijhy\ey_lkljZolhwlhgb\ q_fg_ gZc^_l klhev hlq_leb\h]h \ujZ`_gby dZd \ _]h fbfbd_ Imklv hg ^Z`_ iulZ_lky ih^Z\blv \ujZ`_gb_kljZoZghfbfbq_kdbwlhm g_]hihemqblky]hjZa^hom`_q_fihiuldZkdjulvkljZo keh\ZfbbebdZdbfbeb[h^_ckl\byfb?kebih\h^^eykljZoZg_agZqbl_e_glhihfbfbd_ihqlb [_ahrb[hqghfh`ghk^_eZlvaZdexq_gb_h lj_\h`ghklb[hyaeb\hklbh[ke_^m_fh]hJZamf__lky g_evay lhqgh mklZgh\blv b fZl_fZlbq_kdb ^hdZaZlv qlh hij_^_e_ggZy fbfbdZ q_eh\_dZ k\b^_l_evkl\m_l h i_j_`b\Zgbb bf fbgml jZ^hklb i_qZeb khfg_gby b l i gh \k_ `_ wlhl ijbagZd^hklh\_j_g[he__q_f\kydh_bgh_ijhy\e_gb_ GZf ohjhrh ba\_klgh ba ih\k_^g_\gh]h hiulZ qlh q_eh\_dZ fh`gh ijbgbfZlv bf_ggh lZdbfdZdbfhgihagZ_lkygZfbihfbfbd_b `_klbdmeypbbq_eh\_dk i_qZevguf\ujZ`_gb_f ebpZ _^\Z eb ^mfZ_l h q_flh \_k_ehf Z q_eh\_d \ujZ`_gb_ ebpZ dhlhjh]h h[gZjm`b\Z_l jZa^jZ`_gb_ gbdh]^Z g_ hdZ`_lky \ fbjghf b ijbylghf jZkiheh`_gbb ^moZ Ihkdhevdm fu ijboh^bf\ lZdbokemqZyod \u\h^Zfg_ihkj_^kl\_gghb bgh]^Zhq_gv[ukljhlh[u\Z_lqlhh ebqghklbq_eh\_dZijhkb^_\r_]hgZijhlb\\jZqZ\k_]hdZdbogb[m^v^\_fbgmlufh`ghmagZlv ]hjZa^h [hevr_ q_f ihke_ lsZl_evgh]h h[ke_^h\Zgby _]h k ijbf_g_gb_f l_klh\ b Zgd_l Ke_^m_lh^gZdhmq_klvqlh^Z`_ihke_ijhoh`^_gbyhlebqghcmfkl\_gghc©aZjy^dbª`b\hklv mfZkh\j_f_g_f\k_[he__[e_^g__lijboh^bl\ miZ^hd_kebklbfmeu²imklv\ bghcnhjf_ ²g_ijh^he`ZxlihklmiZlv Fh`ghkdZaZlvke_^mxs__aZ_^bgbpm\j_f_gbm q_eh\_dZijb\udr_]hZdlb\ghfukeblv jh`^Z_lky[hevr_fuke_cq_fm ^jm]h]hg_ijb\udr_]hfukeblvg_aZ\bkbfhhllh]hm dh]h bah[hbo\ur_bgl_ee_dl >hklZlhqghihkfhlj_lvgZebphq_eh\_dZqlh[ukhklZ\blvk_[_km`^_gb_h lhfgZkdhevdh hg mfkl\_ggh ih^\b`_g Ijb kh[_k_^h\Zgbb gZp_e_gghf gZ ZgZeba ebqghklb wlhl fhf_gl \_kvfZ \Z`_g b[h g_aZ\bkbfh hl lh]h dZdb_ \hijhku fu aZ^Z_f b dZdb_ hl\_lu ihemqZ_f gm`gh hlq_leb\h ij_^klZ\eylv k_[_ \gmlj_ggxx ihabpbx q_eh\_dZ Hkh[mx jhev hgZ b]jZ_l ijbhij_^_e_gbbwdkljZbebbgljh\_jlbjh\ZgghklbebqghklbGZijbf_jm q_eh\_dZk \ukrbf h[jZah\Zgb_f ijb\udr_]h ihklhyggh hp_gb\Zlv hdjm`Zxsb_ _]h h[t_dlu h[ bgljh\_jlbjh\Zgghklb fh`_l k\b^_l_evkl\h\Zlv yjdh \ujZ`_ggZy kdehgghklv d ijh^mpbjh\Zgbx kh[kl\_gguo b^_c M q_eh\_dZ `_ g_ ijhr_^r_]h ^hklZlhqghc bgl_ee_dlmZevghcrdheuhkh[_ggh[jhkZxlky\ ]eZaZq_jluwdkljZ\_jlbjh\Zgghklb B \k_ `_ g_h[oh^bfh ijbagZlv qlh fbfbdZ ijb ^_lZevghf bkke_^h\Zgbb q_jl ebqghklb y\ey_lky g_ [he__ q_f ij_\hkoh^guf \kihfh]Zl_evguf kj_^kl\hf Dhgdj_lgu_ dhgklZlZpbb hlebqghih^l\_j`^Zxlky\ujZ`_gb_febpZgh[he__ihegZydZjlbgZebqghklb\uy\ey_lkyijb hij_^_e_gbb\k_\hafh`guoj_Zdpbch[ke_^m_fh]h Ij_`^_ \k_]h fh`gh ihijhkblv h[ke_^m_fh]h \ukdZaZlvky h kh[kl\_gghf hlghr_gbb d k\h_fm oZjZdl_jm Fu ij_^eZ]Z_f _fm gZ[jhkZlv k\hc ikboheh]bq_kdbc ihjlj_l kijZrb\Z_f dZd hg kfhljbl gZ `bagv dZd kijZ\ey_lky k __ keh`ghklyfb M`_ ijb h^ghf lZdhf kZfhhibkZgbb fh`gh \uy\blv \Z`gu_ fhf_glu h^gb g_ fh]ml kfhlj_lv gZ `bagv ijhklh ^jm]b_hlebqZxlkyqj_af_jghcqm\kl\bl_evghklvxb \ha[m^bfhklvxm lj_lvbo`bagvijhl_dZ_l kihdhcghhgbex[ylh[s_kl\h\_k_ev_?kebihfbfbd_b ihfh^meypbb]hehkZfuaZf_qZ_f qlh h[ke_^m_fuc q_]hlh g_ ^h]h\Zjb\Z_l fh`gh hklZgh\blvky gZ wlhf b jZkkijhk \_klb ^_lZevg__ ?keb gZf dZ`_lky qlh fu klhedgmebkv k hij_^_e_gghc q_jlhc ebqghklb lh fh`gh m]em[blvwlml_fm>Z`__kebfuhdhgqZl_evghm[_^bebkv\ gZebqbb^Zgghcq_jluhgZ^he`gZ [ulv ih^l\_j`^_gZ g_ h[sbfb njZaZfb h[ke_^m_fh]h g_ ml\_j^bl_evguf ©^Zª Z nZdlZfb ba `bagb ihklmidZfb <kydbc hohlgh hl\_lbl ml\_j^bl_evgh gZ ihklZ\e_gguc \hijhk aZ bkdexq_gb_f l_o kemqZ_\ dh]^Z \hafh`gh mklZgh\hqgh_ ih\_^_gb_ _keb iheh`_gb_ khhl\_lkl\m_l bklbg_ gh lZdhc hl\_l ijbh[j_lZ_l p_gghklv lhevdh ijb ih^l\_j`^_gbb _]h h[t_dlb\gufbnZdlZfbH[ke_^m_fucfh`_lhlj_dhf_g^h\Zlvk_[ydZdq_eh\_dZklZjZl_evgh]h p_e_mklj_fe_ggh]hk_jv_agh]h`b\h]hb l^gh\k_wlbaZy\e_gbygbq_]hg_klhyl_kebhgg_ kfh`_l jZkkdZaZlv \ q_f bf_ggh ijhy\ey_lky _]h klZjZl_evghklv beb k_jv_aghklv Ijbf_ju ^he`gu[ulv\ujZabl_evgufbyjdbfb\_^vj_qvb^_lh dZq_kl\Zodhlhju_\u^_eyxl^Zggh]h q_eh\_dZ gZ nhg_ ex^_c kj_^g_]h mjh\gy Ijbf_ju ^he`gu k\b^_l_evkl\h\Zlv qlh \ ZgZeh]bqghc kblmZpbb ih\_^_gb_ h[ke_^m_fh]h kms_kl\_ggh hlebqZ_lky hl ih\_^_gby ^jm]bo Ml\_j`^Zlv g_qlh lZdh_ qlh h[t_dlb\gh g_ khhl\_lkl\m_l bklbg_ \hafh`gh gh gbdlh g_ kfh`_l \ ih^l\_j`^_gb_ ijb\_klb dhgdj_lgu_ kemqZb b nZdlu _keb bo g_ [ueh \ ^_ckl\bl_evghklb jZa\_ qlh h^Zj_gguc [h]Zluf \hh[jZ`_gb_f Zdl_j gh Zdl_jZ kjZam fh`gh jZkihagZlv BlZd aZy\e_gby h[ke_^m_fh]h fh]ml kem`blv ebrv hjb_glbjhf djbl_jbc `_ hij_^_e_gby ebqghklb ² wlh hkh[_gghklb ih\_^_gby q_eh\_dZ \ dhgdj_lguo kblmZpbyo Y kdZaZe[uqlhwlhih`Zemc\Z`g_crbcf_lh^bq_kdbcimgdl\ ZgZeba_ebqghklb JZkkfhljbf dZd \ [_k_^_ k h[ke_^m_fuf lZ beb bgZy Zdp_glmbjh\ZggZy q_jlZ hij_^_eyxsZy kljmdlmjm Zdp_glmbjh\Zgghcebqghklb\u^_ey_lkyk ^hklZlhqghcq_ldhklvx ?kebfuij_^iheZ]Z_fqlhi_j_^gZfbebqghklvaZklj_\ZxsZylhij_`^_\k_]h\uykgy_f \hijhk h __ qm\kl\bl_evghklb G_dhlhju_ ex^b g_ kh\k_f \_jgh ih^oh^yl d ihgylbx ©qm\kl\bl_evghklvª hgb lhedmxl __ dZd ©\i_qZlebl_evghklvª < lZdbo kemqZyo ke_^m_l jZatykgblv iZpb_glm qlh bf__lky \ \b^m qm\kl\bl_evghklv d ebqghc h[b^_ H[ke_^m_fh]h kijZrb\Zxlqlhhgqm\kl\m_ldh]^Zd g_fmhlghkylkyg_kijZ\_^eb\hfh`_lebhgijbgylvwlh kihdhcghFgh]b_g_ohlylijbagZ\Zlvky\ qm\kl\bl_evghklblZdh]hjh^ZhiZkZykvh[\bg_gby\ g_l_jibfhklbg_m`b\qb\hklb\hafh`ghbfijboh^behkvm`_\ukemrb\Zlvmij_dbih^h[gh]h jh^ZJ_ZdpbykjZam`_hljZablky\ fbfbd_b h[ke_^m_fhfmg_h[oh^bfhlml`_jZatykgblvqlh bf_xlky\ \b^m\h\k_g_Z]j_kkb\gu_ijhy\e_gbyZ lhdZdhg\gmlj_gg_i_j_ghkblgZg_k_ggmx _fmh[b^m²bgufbkeh\Zfbkgylvk ^Zggh]hdZq_kl\ZhljbpZl_evgucgZe_l< lZdhfkemqZ_ aZklj_\Zxsb_ ex^b h[uqgh ijbagZxlky qlh bo e_]dh aZ^_lv b h[b^_lv Gh ex[hiulgh qlh lZdh_ k\hckl\h dZd aehiZfylghklv fgh]b_ ijh^he`Zxl hljbpZlv ^h dhgpZ <ijhq_f hljbpZy lZdb_ex^bbf_xl\ \b^mebrvh^ghqlh\g_rg_hgb\ hij_^_e_ggucfhf_glm`_g_ijhy\eyxl \jZ`^_[ghklblZddZd©k\h_m`_hlu]jZebªWlh\_jghebrv\ lhcf_j_\ dZdhcijhbkr_^r__ i_j_klZeh[ulv^eygboZdlmZevgufijbqbg_ggh_`_aehhgbijh^he`ZxlihfgblvG_dhlhju_ h[ke_^m_fu_ ijyfh lZd b ]h\hjyl ©Y fh]m ijhklblv h[b^m gh g_ aZ[ulv __ª < ieZg_ Zdp_glmZpbb ebqghklb ^hklZlhqgh ^hdZaZl_evguf y\ey_lky lh qlh ijbqbg_ggZy dh]^Zlh g_kijZ\_^eb\hklv ihklhyggh hklZ_lky \ iZfylb ohly ^jm]b_ q_jlu lhc `_ ebqghklb fh]ml lhjfhablv ijhy\e_gby wlhc ^Z\g_c hkdhj[e_ggh_ Hl fgh]bo ijboh^blky keurZlv qlh hgb \gmlj_gg_]em[hdhkljZ^Zxlhlh[b^b g_kijZ\_^eb\hklbohly\g_rg_wlh]hg_ijhy\eyxl Ijb[he__\ukhdhckl_i_gbqm\kl\bl_evghklb\g_rgb_ijhy\e_gbyj_Zdpbbh[b^uj_^dh hlkmlkl\mxlOhjhrbcj_amevlZl^Zxlke_^mxsb_\hijhkud h[ke_^m_fhfm[u\Zebebm g_]h dhgnebdlu \ k\yab k l_f qlh hg g_ \ughkbl g_kijZ\_^eb\hklb" g_ kemqZehkv eb lZd qlh ijbrehkv b k jZ[hlu m\heblvky ihlhfm qlh hg g_ fh] ijbfbjblvky k lZfhrgbfb h[klhyl_evkl\Zfb" Z fh`_l [ulv h[ke_^m_fuc [ue m\he_g ih bgbpbZlb\_ Z^fbgbkljZpbb ihlhfmqlhhgijhy\eyej_adhklvb g_mklmiqb\hklv\ ex[hfkihj_"?kebihklZ\blv\hijhkg_h qm\kl\bl_evghklb Z h kdehgghklb \klmiZlvky aZ ^jm]bo dh]^Z d gbf g_kijZ\_^eb\u lh aZklj_\Zxsb_ ebqghklb kjZam hl\_qZxl ml\_j^bl_evgh Hgb kqblZxl lZdmx q_jlm p_gguf dZq_kl\hf b g_ \b^yl hkgh\Zgbc kdju\Zlv _]h <ijhq_f h[uqgh bo \k_ `_ [hevr_ aZ^_\Z_l g_kijZ\_^eb\hklvihhlghr_gbxd gbfkZfbf ?keb dhgnebdlu \k_ [hevr_ gZ]jhfh`^Zxlky _keb fu klZedb\Z_fky kh \k_ jZklms_c \a^hjghklvxb g_m`b\qb\hklvxlha^_kvijboh^blkydhgklZlbjh\Zlv_kebdhg_qghbkdexqblv djZcg_ g_[eZ]hijbylgmx kblmZpbx m`_ g_ Zdp_glmbjh\Zggmx q_jlm ebqghklb Z iZjZghcyevgmxikbohiZlbxijbdhlhjhcaZklj_\Zgb_i_j_oh^bl\ iZlheh]bq_kdmxklZ^bx H^gZdh aZklj_\Zgb_ ijhy\ey_lky g_ lhevdh \ qm\kl\bl_evghklb ebpZ wlh]h kdeZ^Z \_kvfZ q_klhex[b\u<aZbfhk\yavh[_boq_jlhkh[_gghohjhrhaZf_lgZ\ kemqZyodh]^Zh[b^Z\ua\ZgZ ms_fe_gb_f ebqgh]h ij_klb`Z Lhl dlh ij_l_ji_e g_kijZ\_^eb\hklv ih hrb[d_ \ kbem kl_q_gbyh[klhyl_evkl\ghijbwlhf_]hebqgucZ\lhjbl_lg_ihkljZ^Ze\jy^eb[m^_lhkh[_ggh wlbfaZ^_lKlj_fe_gb_ml\_j^blvk_[y^h[blvky\ukhdh]hiheh`_gbyfh`_lijhy\blvkyb \g_ k\yab k qm\kl\bl_evghklvx Ijhn_kkbhgZevgZy ^_yl_evghklv aZklj_\Zxs_]h q_eh\_dZ ih^l\_j`^Z_lkdZaZggh_LZdb_ex^bqZklh^hklb]Zxl\_kvfZ\ukhdh]hkem`_[gh]hiheh`_gby ohly hgh b g_ \k_]^Z khhl\_lkl\m_l bo h[jZah\Zgbx ?keb g_^hklZlhqgu_ bgl_ee_dlmZevgu_ ^Zggu_ wlbo ex^_c ij_iylkl\mxl aZgylbx lZdh]h ihklZ \k_ jZ\gh imklv \ madbo jZfdZo bo ^_yl_evghklb qm\kl\m_lky [_kij_ju\gh_ `_eZgb_ \u^\bgmlvky Ijb agZqbl_evghc kl_i_gb Zdp_glmZpbb ebqghklb q_klhex[b\u_ mklj_fe_gby qZklh ij_l_ji_\Zxl kju\u >he`ghfm ijbagZgbx^he`ghchp_gd_lZdboex^_cihklhygghf_rZxlbodhgnebdluk hdjm`Zxsbfbba aZdhlhjuohgbg_lhevdhg_ijh^\b]Zxlky\\_joihkem`_[ghce_klgbp_ghkiehrvb jy^hfbo ihgb`Zxl \ ^he`ghklb LZdb_ ex^b h[uqgh h[\bgyxl \ wlhf ^jm]bo gh bgh]^Z hkhagZxl b kh[kl\_ggmx\bgmHgbk\h_gjZ\gub g_l_jiyl\hajZ`_gbcªhgbgZklhevdh[_klZdlgu\ k\hbo q_klhex[b\uo aZfukeZo qlh \uau\Zxl k\hbf ih\_^_gb_f bkdj_gg__ \hafms_gb_ dhee_] Ijboh^blky bgh]^Z hijZrb\Zlv khkem`b\p_\ lZd dZd kZfb h[ke_^m_fu_ g_ fh]ml h[t_dlb\gh hlh[jZablv kh[ulby JZa\blb_ qm\kl\bl_evghklb b q_klhex[by \ayluo \ dhfie_dk_ g_[eZ]hijbylghghnZdlbq_kdbm]jh`Z_lebrv\ l_okemqZyodh]^ZaZklj_\Z_fhklvijbh[j_lZ_l oZjZdl_j iZjZghcyevghc ikbohiZlbb ?keb Zdp_glmZpby g_ i_j_oh^bl ba\_klguo ]jZgbp lh ^hklb`_gbyaZklj_\Zxsboebqghkl_ch[uqgh[u\Zxl\ur_kj_^g_]hmjh\gy ?keb fu ij_^iheZ]Z_f qlh h[ke_^m_f ebqghklv i_^Zglbq_kdmx emqr_ \k_]h gZqbgZlv hijhkk \hijhkh\h ijhn_kkbbiZpb_glZFukijZrb\Z_fdZdhghlghkblkyd k\hbfkem`_[guf h[yaZgghklyfklZjZl_e_gebIhkdhevdmgbdhfmg_fh`_l[ulvijbylghh[\bgblvkZfh]hk_[y\ g_[j_`ghfhlghr_gbbd jZ[hl_lhhl[hevrbgkl\Zex^_cfuihemqZ_fiheh`bl_evguchl\_l H^gZdh _keb ml\_j^bl_evguc hl\_l ghkbl [he__ beb f_g__ nhjfZevguc oZjZdl_j lh dZd ijZ\behwlhfh`ghhij_^_eblvm`_ihfbfbd_b bglhgZpbbIml_f^Zevg_crbojZkkijhkh\fu \uykgy_fg_hlghkblkyebh[ke_^m_fucd g_dhlhjufjZ[hqbfijhp_kkZfq_j_kqmjk_jv_aghg_ i_j_ijh\_jy_lebk_[yihfgh]mjZaohlywlhb g_\uau\Z_lkyg_h[oh^bfhklvxg_kemqZ_lkyeb qlhih^hjh]_k jZ[hlu^hfhchgfuke_ggh\ha\jZsZ_lkyd jZ[hq_fm^gxkijZrb\Zyk_[y\k_ ebbf[uehk^_eZghdZdke_^m_lGZwlhl\hijhk[hevrbgkl\hex^_c^ZxlhljbpZl_evguchl\_l H^gZdh i_^Zglbq_kdb_ ebqghklb lml ihgbfZxs_ db\Zxl ]heh\hc b ^Zxl ihgylv qlh fu dhkgmebkvboZobee_kh\hciyluFumagZ_fqlhhgbih²jZaZk_[yijh\_jyxlij_`^_q_f k^ZlvjZ[hlmHgbjZkkdZau\Zxlb hlhfqlhk dhgphfjZ[hq_]h^gy^eygbo\h\k_g_dhgqZxlky kem`_[gu_ aZ[hlu qlh me_]rbkv kiZlv hgb `_ ^he]h h[^mfu\Zxl ©dZd \k_ k_]h^gy ihemqbehkvª Z bgh]^Z aZ[_]Zy \i_j_^ gZqbgZxl aZjZg__ ©i_j_`b\Zlvª b aZ\ljZrgbc ^_gv ;u\Z_lb lZdqlhlZdb_ex^bk ihe^hjh]b\ha\jZsZxlky\ mqj_`^_gb_bfihdZaZehkvqlhhgb aZ[uebk^_eZlvqlhlh\Z`gh_ohlywlhihqlbgbdh]^Zg_ih^l\_j`^Z_lky?keblZdh]hq_eh\_dZ kijhkblv dhgdj_lgh ^h[jhkh\_kl_g eb hg \ jZ[hl_ fh`gh eb gZ g_]h iheh`blvky lh \ [hevrbgkl\_ kemqZ_\ hg hl\_lbl qlh k_[y o\Zeblv kqblZ_l g_m^h[guf Gh _keb ijh^he`Zlv gZklZb\Zlv gZ hl\_l_ lh fu magZ_f lh qlh ohjhrh ba\_klgh \k_fm ijhba\h^kl\m beb mqj_`^_gbxq_eh\_d wlhlg_\_jhylgh kdjmime_a_g gZ g_]h fh`gh iheh`blvkydZd gb gZ dh]h ^jm]h]hFh`_l[ulvbf_gghbawlbokhh[jZ`_gbc_fmihjmqZxllZdmxjZ[hlmijbbkiheg_gbb dhlhjhc g_^himklbfu hrb[db IjZ\^Z _fm qZklh lj_[m_lky [hevr_ \j_f_gb q_f ^jm]bf ex^yf qlh[u ^h\_klb jZ[hlm ^h dhgpZ LZdb_ ex^b ihwlhfm kiehrv b jy^hf jZ[hlZxl k\_jomjhqghg_lj_[mygbdZdhchieZlu >eyi_^Zglbq_kdboebqghkl_cljm^ghklbgZqbgZxlkylZf]^_hkh[ZylhqghklvhdZau\Z_lky ba\_klghcihf_ohc\ jZ[hl_lZddZd[u\ZxlkblmZpbbdh]^Z\ bgl_j_kZojZ[hlu\ p_ehffh`gh g_ klj_fblvky d kh\_jr_gkl\m \ hl^_evguo ^_lZeyo Wlb ex^b fh]ml \ k\yab kh k\hbf oZjZdl_jhf ^hclb \ lZdbo kemqZyo ^Z`_ ^h dhgnebdlh\ <hh[s_ lZdb_ ebpZ hq_gv k_jv_agh kljZ^Zxl ih^ [j_f_g_f hl\_lkl\_gghklb g_\hafh`ghklv \k_ \uihegblv lZd dZd lj_[m_l bo ^h[jhkh\_klghklv ^_eZ_l bo g_kqZklgufb <ke_^kl\b_ wlh]h hgb g_ lhevdh g_ klj_fylky d ih\ur_gbx ih kem`[_ gh ^Z`_ hldZau\Zxlky dh]^Z bf ij_^eZ]Zxl [he__ hl\_lkl\_ggmx \ukhdhhieZqb\Z_fmx ^he`ghklv < ^Zevg_cr_c [_k_^_ fu dZkZ_fky ^hfZrg_c `bagb h[ke_^m_fh]h magZ_f pZjyl eb b lZf lsZl_evghklv imgdlmZevghklv G_j_^dh ijb wlhf mklZgZ\eb\Z_f qlh i_^Zglbqghklv jZkijhkljZgy_lky g_ gZ \k_ h[eZklb `bagb Fm`qbgu haZ[hq_ggu_ l_f qlh[u gZ jZ[hl_ \k_ reh b^_Zevgh q_ldh qZklh \ [ulm hdZau\Zxlky g_ kebrdhf ZddmjZlgufb Wlh fh`gh ijbibkZlv hij_^_e_gghc \gmlj_gg_c mklZgh\d_ gZijbf_j qlh aZ ihjy^hd \ ^hf_ hl\_qZ_l `_gZ Ex[hiulgh qlh ^ey i_^Zglbq_kdbo ebqghkl_c g_j_^dh [he__ ijb_fe_fh \h\k_ kgylv k k_[y hl\_lkl\_gghklv aZ ihjmq_ggh_ ^_eh q_f iulZlvky kijZ\blvkyk gbfg_iheghp_ggh @_gsbgu [hevr_ qm\kl\mxl k_[y hl\_lkl\_ggufb aZ ^hf Gh ihkdhevdm b gZ jZ[hl_ i_^Zglbqghklvbo^Z_lh k_[_agZlvlhhgbij_^ihqblZxljZ[hlZlvgZ^he`ghklyofbgbfZevgh hl\_lkl\_gguo ?keb `_ m `_gsbg qj_af_jgZy ZddmjZlghklv \ujZ`Z_lky lhevdh \ [ulm lh k \u\h^Zfbijboh^blky[ulvhklhjh`g__b[hg_j_^dh`_gsbgukh[ex^Zxlh[jZaph\mxqbklhlm b qj_af_jgucihjy^hd\ ^hf_ebrvihlhfmqlh]hj^ylkyk\hbfhqZ]hfb \k_]^Zohlyl\b^_lvb ihdZau\Zlv_]h\ [_amdhjbag_gghfkhklhygbbH[udgh\_ggZyex[h\vd ihjy^dm²wlhke_^m_l bf_lv \ \b^m ² d [he_ag_gguf ijhy\e_gbyf i_^Zglbq_kdhc Zdp_glmZpbb g_ hlghkblky GZdhg_p hij_^_eb\ i_^Zglbqghklv ebqghklb fu ij_^eZ]Z_f jy^ klZg^Zjlguo \hijhkh\ gZ dhlhju_ g_ \h \k_o kemqZyo ihemqZ_f ml\_j^bl_evguc hl\_l g_ \k_ h[eZklb ikbobdb \h\e_dZxlky \ khhl\_lkl\mxsb_ ijhy\e_gby gh \k_ `_ qZklh \ hl\_l h[ke_^m_fuc kfms_ggh ml\_j^bl_evgh db\Z_l ]heh\hc Ih^ klZg^Zjlgufb y bf_x \ \b^m \hijhku h ihklhygguo i_j_ijh\_jdZoaZdjulueb]Zah\u_djZguohjhrhebaZi_jlZ^\_jvg_hklZ\e_geb]^_gb[m^v g_\udexq_ggufk\_l^_ckl\bl_evghebhims_gh\Z`gh_ibkvfh\ ihqlh\ucysbdb l^>hl_o ihjihdZi_^Zglbqghklvg_\uoh^blaZij_^_euZdp_glmZpbbebqghklb__ ke_^m_lhp_gb\ZlvdZd iheh`bl_evgmx q_jlm oZjZdl_jZ ohly i_^Zglbqgu_ ex^b aZqZklmx l_jyxl fgh]h kbe ajy gZ gbdhfm g_ gm`gu_ i_j_ijh\_jdb Gh _keb Zdp_glmZpby ^hklb]Z_l kl_i_gb k\hckl\_gghc ZgZgdZklbq_kdhc ikbohiZlbb hljbpZl_evgh_ gZqbgZ_l ijhklmiZlv \k_ [he__ hlq_leb\h IhklhyggZy g_m\_j_gghklv ihklhygguc ihke_^mxsbc dhgljhev fh]ml ^hklb]gmlv lZdhc kl_i_gb ijb dhlhjhc \kydZy jZ[hlZ ijh^\b]Z_lky \i_j_^ q_j_iZrvbf rZ]hf Ij_^mkfhljbl_evgh_ \a\_rb\Zgb_ ij_\jZsZ_lky \ [_kieh^gu_ jZa^mfvy G_dhlhju_ ij_^klZ\e_gby fh]ml ijbh[j_lZlv gZ\yaqb\uc oZjZdl_j Wlh m`_ kb]gZe gZ\yaqb\uo b^_c dhlhju_g_y\eyxlkyij_^f_lhfgZklhys_]hbkke_^h\ZgbyIjbh[ke_^h\Zgbb^_fhgkljZlb\ghc ebqghklbgm`gh^_ckl\h\Zlvhq_gvhklhjh`ghihkdhevdm\ [_k_^_k lZdbfbex^vfbhq_gve_]dh ©ihiZklvky gZ m^hqdmª IhemqZ_fuf hl\_lZf \ [hevrbgkl\_ kemqZ_\ g_evay ^h\_jylv h[ke_^m_fu_ jbkmxl k_[y g_ lZdbfb dZdbfb y\eyxlky gZ kZfhf ^_e_ Z lZdbfb dZdbfb bf ohl_ehkv [u dZaZlvky Fgh]b_ ^_fhgkljZlb\gu_ ebqghklb gZijbf_j oZjZdl_jbamxl k_[y dZd ^h[jhkh\_klguo b ^Z`_ k\_jo^h[jhkh\_klguo y\eyykv ijb wlhf bgh]^Z Z[khexlgh g_gZ^_`gufb ex^vfb Hgb meZ\eb\Zxl ex[mx \hafh`ghklv ij_^klZ\blv k_[y k gZbemqr_c klhjhgu b k m^h\hevkl\b_f __ bkihevamxl Ihwlhfm a^_kv hkh[_ggh \Z`gh lj_[h\Zlv ih^l\_j`^_gbyhl\_lh\dhgdj_lgufbijbf_jZfbGZwlhlkemqZcm ^_fhgkljZlb\guoebqghkl_c g_ ijbiZk_gu nZdlbq_kdb_ beexkljZpbb dZd wlh gZ[ex^Z_lky m ebqghkl_c i_^Zglbq_kdbo dhlhju_b a^_kvdZdb \h\k_fhlebqZxlkyZddmjZlghklvx>_fhgkljZlb\gu_ebqghklb\hh[s_ kdehgguijbibku\Zlvk_[_jZagu_\_kvfZiheh`bl_evgu_dZq_kl\Z^Z`_b lh]^Zdh]^Zh gbog_ kijZrb\ZxlDjhf_lh]h\ ijhp_kk_^bZ]ghklbdb^_fhgkljZlb\guoebqghkl_ckms_kl\m_lh^bg \_kvfZoZjZdl_jgucfhf_glke_^m_lmqblu\Zlvg_lhevdhkhh[sZ_fu_nZdlbq_kdb_^Zggu_gh lZd`_ b fZg_jm h[ke_^m_fh]h ^_j`Zlv k_[y \h \j_fy [_k_^u K\hx bkl_jbq_kdmx kmsghklv lZdb_ex^bdZdijZ\beh\u^Zxl\k_fk\hbfih\_^_gb_f\k_m gboij_m\_ebq_gh²\ujZ`_gb_ qm\kl\fbfbdZ`_klulhg<k_]^Zqm\kl\m_lkyhlkmlkl\b_gZklhys_]h\gmlj_gg_]hnhgZ\k_o wlbo ijhy\e_gbc <hl ]^_ fh`_l hkh[_ggh ijb]h^blvky kihkh[ghklv d g_ihkj_^kl\_gghfm \hkijbylbxb khhl\_lkl\mxs_fmbklhedh\Zgbxfbfbdbb `_klh\H[eZ^ZylZdhckihkh[ghklvx fh`gh\k_]^ZhlebqblvihdZagh_hlbkdj_gg_]h<ijhq_f_s_b _s_jZake_^m_lih^q_jdgmlv dZdmx [hevrmx jhev a^_kv b]jZ_l hiul fheh^uo \jZq_c lZdb_ ebqghklb ihklhyggh \\h^yl \ aZ[em`^_gb_Fheh^u_dhee_]bkqblZxlbohl\_lub aZy\e_gbyh[t_dlb\gufbohlyihdZjlbg_ \ p_ehf kjZam fh`gh hij_^_eblv qlh h[ke_^m_fuc obljbl < wlbo kemqZyo \jZqb lZd`_ g_ \k_]^Z ^_eZxl ijZ\bevgu_ \u\h^u ba kZfh\hko\Ze_gby b kZfhkh`Ze_gby wlbo ex^_c qZklh klhev h[fZgqb\uo Fu iheZ]Z_f qlh \ j_Zevghc `bagb ^_fhgkljZlb\gu_ ebqghklb [eZ]h^Zjy k\h_fm mihjkl\m bf_xl g_fZeuc mki_o b[hhgb [u ^Z\gh hlmqbebkv hl k\hbo fZg_j _keb [u dZ`^uc \b^_e wlbo oblj_ph\ gZkd\hav G_dhlhju_ ^_fhgkljZlb\gu_ ebqghklb k \jZqhf \_^ml k_[y bgZq_ q_f k hdjm`Zxsbfb bo ex^vfb ;u\Z_l qlh ih h[t_dlb\guf hibkZgbyf qe_gh\ k_fvb beb khkem`b\p_\ lZdb_ ex^b ij_^klZxl \_kvfZ mihjgufb gh ijb \jZq_[ghf h[ke_^h\Zgbb hdZau\Zxlky klhev \u^_j`Zggufb qlh \k_fm qlh hgb ]h\hjyl gZqbgZ_rv g_\hevgh \_jblv H^gZdh \k_ wlh ebrv _s_ jZa k\b^_l_evkl\m_l h ijbkihkh[ey_fhklb lZdbo ex^_c hgb ihdZau\Zxl k_[y g_ lZdbfb dZdbfb _klv gZ kZfhf ^_e_ Z lZdbfb dZdbfb bf \ ^Zgguoh[klhyl_evkl\Zo\u]h^ghk_[yihdZaZlvGZijbf_jfgh]b_iZlheh]bq_kdb_fhr_ggbdb mfure_ggh ijyqml gZahceb\u_ fZg_ju ^_fhgkljZlb\ghc ebqghklb b[h ohjhrh agZxl qlh k ihfhsvxkihdhcgh]hih\_^_gbyfh`ghkgbkdZlv[hevr_^h\_jby >_fhgkljZlb\gu_ebqghklb_kebjZkkijZrb\Zlvbohklhjh`ghhohlghijbagZxlky\ k\h_f Zdl_jkdhf^Zjh\ZgbbHgbk m^h\e_l\hj_gb_fih^q_jdb\Zxlqlh\ h[s_kl\_\k_]^Zqm\kl\h\Zeb k_[y m\_j_ggh qlh _s_ \ rdhe_ \ujZabl_evgh ^_deZfbjh\Zeb klbob k mki_ohf mqZkl\h\Zeb \ ^_lkdbol_ZljZevguoihklZgh\dZoZ iha`_²\ ex[bl_evkdboki_dlZdeyoBawlhch[eZklbk\h_c `bagbbfe_]dhq_jiZlv\iheg_dhgdj_lgu_ijbf_ju < kihkh[ghklb b]jZlv kdZau\Z_lky b iheh`bl_evguc oZjZdl_j ^Zgghc Zdp_glmZpbb ih^h[gh lhfm dZd hgb b]jZxl qlh[u \uklZ\blv k_[y \ \u]h^ghf k\_l_ hgb \_kvfZ mki_rgh b]jZxl b gZ kp_gbq_kdbo ih^fhkldZo >_fhgkljZlb\gu_ ebqghklb \hh[s_ qZklh h^Zj_gu nZglZab_c klhev \Z`ghc b \ ^jm]bo h[eZklyo bkdmkkl\Z < [hevrbgkl\_ k\h_f hgb hohlgh ijbagZxlky \ ihe_lZo nZglZabb GZijbf_j fg_ g_h^ghdjZlgh ijboh^behkv keurZlv qlh h[ke_^m_fhfm ©gbq_]h g_ klhbl ijb^mfZlv keZ\gu_ jZkkdZabdbª Ijb lZdlbqghf ijh\_^_gbb h[ke_^h\Zgby fh`gh^h[blvky m iZpb_glZb ih^l\_j`^_gby qlh _fm e_]dh ©\udjmlblvkyª ijb ihfhsbeh\dhijb^mfZgghcg_[uebpu Ijbh[ke_^h\Zgbb^_fhgkljZlb\ghcebqghklb\Z`g__q_fijb^jm]bo\b^ZoZdp_glmZpbb ho\Zlblv\_kv__ `bag_ggucimlvIhkdhevdmm lZdboex^_cy\gh\ujZ`_gZkdehgghklvba[_]Zlv ljm^ghkl_c hgb qZklh f_gyxl g_ lhevdh f_klh jZ[hlu gh b ijhn_kkbx Q_f [hevr_ Zdp_glmZpby ijb[eb`Z_lky d bkl_jbq_kdhc ikbohiZlbb l_f [hevr_ gZkqblu\Z_lky gZ jZ[hl_ kju\h\ \g_aZiguo hldZah\ hl jZ[hlu dhlhjZy ydh[u kebrdhf ly`_eZ gZ[ex^Z_lky lZd`_ b [_]kl\h\ [he_agv©Bklhs_gb_g_j\ghckbkl_fuªdhlhjh_gZkZfhf^_e_y\ey_lkygb q_fbguf dZd^_fhgkljZpb_cb ©i_j_mlhfe_gb_ªh dhlhjhfh[t_dlb\ghg_fh`_l[ulvb j_qbb]jZxl\ ih^h[guo kemqZyo g_fZemx jhev Fgh]b_ [hevgu_ dhlhjuo ijb g_lhqghf ZgZeba_ hlghkyl d keZ[hoZjZdl_jguf gZ kZfhf ^_e_ y\eyxlky bkl_jbdZfb JZkkdZa h k\h_c `bagb bkl_jbq_kdb_ ikbohiZlu h[uqgh i_j_kuiZxl kZfh\hko\Ze_gb_f b \ujZ`_gb_f `Zehklb d k_[_ Ijb hij_^_e_gghc kl_i_gb Zdp_glmZpbb wlb ikbohiZlu e]ml b obljyl [_kkhagZl_evgh qlh \k_]^Z ke_^m_l mqblu\Zlv ijb h[ke_^h\Zgbb >_eh fh`_l ^hclb ^h iZlheh]bq_kdhc kdehgghklb d h[fZgmb ^h SVHXGRORJLDSKDQWDVWLFD GZjy^mk wlbfm ^_fhgkljZlb\guoebqghkl_c\klj_qZxlkyb lZdb_ q_jlu dhlhju_ kihkh[gu dhfi_gkbjh\Zlv bkl_jbq_kdmx kdehgghklv d hleugb\Zgbx hl jZ[hlu M \ha[m^bfuo ebqghkl_c lZd`_ qZklh dhgklZlbjm_lky \_kvfZ g_jh\gh_ l_q_gb_ `bagb h^gZdh g_ ihlhfm qlh hgb ihklhyggh ba[_]Zxl ljm^ghkl_c Z ihlhfm qlh qZklh \ukdZau\Zxl g_^h\hevkl\h ijhy\eyxl jZa^jZ`bl_evghklv b kdehgghklv d bfimevkb\guf ihklmidZf >hklZlhqgh lh]h qlh[u bf qlheb[h g_ ihgjZ\behkv dZd hgb kjZam `_ hl\hjZqb\Zxlky b g_ mljm`^Zy k_[y \a\_rb\Zgb_f ihke_^kl\bc [_jmlky aZ gh\h_ ?keb kijhkblv lZdbo ex^_c h ijbqbgZoi_j_f_guf_klZjZ[hlubebijhn_kkbblhj_^dhmkeurbrvhl\_lh ljm^ghklbkZfhc jZ[hlu aZlh \u^\b]Zxlky ^jm]b_ fhlb\u gZqZevgbd g_ ohl_e ihclb gZ mklmidb dhee_]Z hlghkbekyg_lZdgbadZyaZjieZlZb l^JZ[hlZdZdlZdh\Zy\ qZklghklbnbabq_kdbcljm^wlbf Zdp_glmbjh\Zgguf ebqghklyf ijbghkbl jZ^hklv ihwlhfm hgb a^_kv ^hklb]Zxl mki_oh\ Hkh[_ggh hlq_leb\h bo \ha[m^bfhklv ijhy\ey_lky ijb ]em[hdbo Znn_dlZo G_ijbylgu_ kh[ulbyjZkkljh_ggu_qm\kl\Zfh]mlijb\_klbwlboex^_cd g_h[^mfZggufihklmidZfbgh]^Z d ihiuld_ kZfhm[bckl\Z Gh hkh[_ggh oZjZdl_jgZ ^ey gbo g_h[ma^ZggZy \ha[m^bfhklv kh \kiurdZfb yjhklb Fgh]b_ ba h[ke_^m_fuo ijyfh ih^l\_j`^Zxl qlh \ khklhygbb aZiZevqb\hklbhgbg_kihkh[guk^_j`Zlvky^jm]b_]h\hjylh[wlhfg_lZdhldjh\_gghghkZfbo nZdlh\g_hljbpZxl>eyhij_^_e_gbykl_i_gb\ha[m^bfhklbp_e_khh[jZaghhijhkblvjh^guo <ha[m^bfu_ebqghklbg_j_^dhijhba\h^yl\i_qZle_gb_ex^_cijbfblb\guol_m`_ihbo fbfbd_ fh`gh km^blv h g_\ukhdhc bgl_ee_dlmZevghc ih^\b`ghklb hgb aZf_qZxl lhevdh lh qlhkjZam[jhkZ_lky\ ]eZaZ< [_k_^_lZdb_ex^bm]jxfugZ\b^gZ\hijhkuhl\_qZxldjZcg_ kdmih Hgb kh[kl\_ggh dZd ihdZau\Zxl g_dhlhju_ j_iebdb hlgx^v g_ `_eZxl ijhy\blv g_^jm`_ex[b_ bf ijhklh g_ gjZ\blky qlh ijboh^blky ^Z\Zlv lZdh_ dhebq_kl\h hl\_lh\ b ihwlhfm j_Z]bjmxl hq_gv jZa^jZ`_ggh H^gbf keh\hf b a^_kv hgb g_ mf_xl ^_j`Zlv k_[y \ jmdZo fh`_l[ulv bf b ohl_ehkv [u ihdZaZlvky \hkiblZggufb ex^vfb gh fbfbdZ b fZg_ju \u^Zxlbok ]heh\hc <ijhq_fy\gZym]jxfhklvb g_^h\hevkl\hijbh[ke_^h\Zgbbh[gZjm`b\Zxlkyebrvlh]^Z dh]^ZjZa\blb_Zdp_glmZpbbijh]j_kkbjm_lb fh`gh]h\hjblvm`_h[wibe_ilhb^ghcikbohiZlbb beb h i_j_oh^_ d g_c G_^hklZlhqghklv mijZ\e_gby kh[hc g_j_^dh \_^_l d dhgnebdlZf \ h[s_gbbk ex^vfbG_j_^dhm wlboebpfuklZedb\Z_fkyk ojhgbq_kdbfZedh]hebafhflZddZdb \ ijbih^gylhf b \ ih^Z\e_gghf gZkljh_gbb hgb hohlgh ijb[_]Zxl d Zedh]hex dZd \ha[m`^Zxs_fmkj_^kl\mM ^_\mr_dhlf_qZ_lkylZd`_kbevgh_k_dkmZevgh_\e_q_gb_ =bi_jlbfbq_kdZy ebqghklv e_]dh jZkihagZ_lky \ h[uqghc [_k_^_ JZa]h\hjqb\hklv b `bag_jZ^hklgh_ gZkljh_gb_ kjZam h[jZsZxl gZ k_[y \gbfZgb_ Mfkl\_ggZy ih^\b`ghklv gZoh^bl k\h_ hljZ`_gb_ \ fbfbd_ LZdb_ ex^b ex[yl ]hkih^kl\h\Zlv \ h[s_kl\_ A^_kv hgb \u^_eyxlkyk\hbfih\ur_gguflhgmkhf\_k_ev_fgZoh^qb\hklvxb hkljhmfgufb\uoh^dZfb < ljm^h\hc ^_yl_evghklb bo hlebqbl_evgu_ dZq_kl\Z ² bah[j_lZl_evghklv b [h]Zlkl\h b^_c Bgh]^Z hgb [u\Zxl jZa^jZ`bl_evgu qlh hkh[_ggh aZf_lgh \ k_f_cghf djm]m ]^_ g_l gb hl\e_dZxs_]h h`b\e_ggh]h h[s_kl\Z gb k^_j`b\Zxs_]h \ebygby gZqZevkl\Z ?keb fu aZ^Z_fky p_evx hij_^_eblv g_ y\eyxlky eb gZjmr_gby q_flh [he__ k_jv_aguf q_f lhevdh ebrv Zdp_glmbjh\Zgghc kljmdlmjhc ebqghklb lh \ i_j\mx hq_j_^v ^he`gu ih^mfZlv h ]bihfZgbZdZevghcikbohiZlbbFu\uykgy_fg_kebrdhfeb[_aaZ[hlghhlghr_gb_q_eh\_dZd `bagbg_©\blZxlªeb_]hfukebg_hldehgyxlkyebhgbhlijbgyluoghjf: fh`_l[ulv\ k\yab k `b\hklvx lZdh]h q_eh\_dZ gZ[ex^Z_lky b jZkiue_gghklv _]h ^_yl_evghklb" Ijhy\e_gb_f ]bihfZgbZdZevghc ikbohiZlbb fh`_l y\blvky h[s__ [_kihdhckl\h km_leb\hklv <k_ wlh khijh\h`^Z_lky qZklhc kf_ghc f_klZ jZ[hlu Z bgh]^Z b ijhn_kkbb >bklbfbq_kdZy ebqghklv lZd`_ fh`_l [ulv e_]dh jZkihagZgZ \ h[udgh\_gghc [_k_^_ m`_ ih h^ghfm aZkl_gqb\hfm b [_ajZ^hklghfm \b^m FbfbdZ m lZdbo ex^_c fZeh\ujZabl_evgZy Ijb jZkkijhkZo hgb h[uqgh ih^l\_j`^Zxl qlh \k_]^Z k_jv_agu Z qm\kl\Z k\h[h^ghc b ijbylghc \_k_ehklb \hh[s_ gbdh]^Z ihgZklhys_fm g_ bkiulZeb ?keb k_jv_aghklv ^hklb]Z_l iZlheh]bq_kdhc kl_i_gb l _ ijb km[^_ij_kkb\ghc ikbohiZlbb wlh fh`_l ijb\_klb d iheghc mljZl_`bag_jZ^hklghklbb h[s_caZf_^e_gghklbj_ZdpbbDZdijb]bi_jlbfbq_kdhflZdb ijb ^bklbfbq_kdhf ih\_^_gbb g_h[oh^bfh ij_^\Zjbl_evgh m[_^blvky qlh wlh ih\_^_gb_ ijbkms_ h[ke_^m_fhfm ihklhyggh ?keb h^gh ba gbo i_jbh^bq_kdb kf_gy_lky ^jm]bf lh i_j_^ gZfb Znn_dlb\gheZ[bevgucl_fi_jZf_glEx^bwlh]hlbiZ\ aZ\bkbfhklbhlgZijZ\e_gbyb h[s_]h lhgZ [_k_^u fh]ml ij_^klZ\eylvky \ h^ghf kemqZ_ h`b\e_ggufb b \_k_eufb \ ^jm]hf ² lbobfb b kdjhfgufb \hafh`gZ b kj_^gyy ihabpby l_fi_jZf_glZ Ke_^m_l hlf_lblv qlh b fgh]b_ ]bi_jlbfbq_kdb_ ebqghklb \ keh`ghc kblmZpbb fh]ml ijhy\blv ijbagZdb ]em[hdhc ^_ij_kkbblZdqlhihkmlbb bol_fi_jZf_gl^he`_g[ulvhlg_k_gd Znn_dlb\gheZ[bevghfm lbim ?keb\ fhf_glh[ke_^h\Zgbyq_eh\_dihdZau\Z_lk_[yjh\gufb \u^_j`Zgguf\k_`_ijb hijhk_ bgh]^Z fh`gh ^h\hevgh [ukljh m[_^blvky \ eZ[bevghklb _]h l_fi_jZf_glZ >ey wlh]h fh`gh ijb\_klb \ jZa]h\hj_ ba\_klgmx Zglbl_am =_l_ h gZkljh_gbyo ² ©lh \haghkysbcky ebdmy^hg_[_klhhi_qZe_gguckf_jl_evghª²b aZnbdkbjh\Zlvj_Zdpbx< lZdbokemqZyoijb mklZgh\e_gbb ^bZ]ghaZ gm`gh djhf_ lh]h bkdexqblv Znn_dlb\ghwdaZevlbjh\Zgguc lbi l_fi_jZf_glZ d dhlhjhfm fu gb`_ i_j_c^_f G_e_]dh hij_^_eblv qlh bf_ggh \uau\Z_l dhe_[Zgby \ gZkljh_gbb ex^_c k Znn_dlb\gheZ[bevguf l_fi_jZf_glhf ² \g_rgb_ beb \gmlj_ggb_ijbqbguihwlhfmaZqZklmxg_kfhljygZ^Zggmxki_pbnbdml_fi_jZf_glZke_^m_l bkdexqblv \g_rgb_ klbfmebjmxsb_ fhf_glu <ijhq_f b \g_rgb_ ijbqbgu fh]ml bgh]^Z \ua\ZlvlZdb_dhe_[ZgbygZkljh_gbyB ebrvijbyjdhc\ujZ`_gghklbZnn_dlb\gheZ[bevgh]h l_fi_jZf_glZ ij_h[eZ^Zxl dhe_[Zgby k\yaZggu_ k km]m[h \gmlj_ggbfb fhlb\bjh\dZfb gh \ lZdbo kemqZyo i_j_^ gZfb m`_ g_ Znn_dlb\gheZ[bevguc l_fi_jZf_gl Z pbdehlbfby dZd \b^ ikbohiZlbb Ihkdhevdm dhe_[Zgby ih\_^_gby ijb Znn_dlb\gheZ[bevghf l_fi_jZf_gl_ fh]ml [ulv \ua\Zgu b \g_rgbfb ijbqbgZfb g_h[oh^bfh bkdexqblv wfhlb\guc l_fi_jZf_gl >bnn_j_gpbZpbx ke_^m_l ijh\h^blv ih ke_^mxsbf ijbagZdZf wfhlb\gu_ ebqghklb [u\Zxl ]em[hdh ihljyk_gu kZfbf kh[ulb_f Z ex^b Znn_dlb\gheZ[bevgh]h l_fi_jZf_glZ _s_ g_dhlhjh_ \j_fy ihke_ kh[ulbyklbfmeZ ijh^he`Zxl ©\b[jbjh\Zlvª gZ kljmg_ jZ^hklgh]h \ha[m`^_gbybebk_jv_aghklbohlykZfhkh[ulb_m`_^Z\gh©kgylhk ih\_kldb^gyªE_]q_\k_]h m[_^blvky \ wfhlb\ghklb l_fi_jZf_glZ ^Zggh]h h[ke_^m_fh]h ihemqb\ ml\_j^bl_evguc hl\_l gZ\hijhkg_kebrdhfebhgfy]dhk_j^_q_gIh^wlbfih^jZamf_\Zxlqlhly`_eu_i_j_`b\Zgby q_j_kqmj]em[hdhaZ^_\Zxlh[ke_^m_fh]hqlhhgg_fh`_l©\udexqblvkyª_]he_]dhjZkljh]Zlv kh[ulby ijhbkoh^ysb_ \ jhfZg_ beb \ nbevf_ qZklh \uau\Zxl m g_]h ke_au LZdb_ ex^b ij_^_evgh `Zehkleb\u ^_lkdbo ke_a hgb g_ \ughkyl b qZklh gZqbgZxl ieZdZlv \f_kl_ k h[b`_ggufj_[_gdhfFm`qbgukl_kgyxlkykhagZlvky\ qj_af_jghcke_aeb\hklbghhgbagZxl k\hx keZ[hklv b ijbagZxl qlh e_]dh ih^^Zxlky ]em[hdhc jZkljh]Zgghklb G_h[oh^bfh kijZrb\Zlv m ex^_c wfhlb\gh]h l_fi_jZf_glZ lZd`_ b h lhf dZdh_ \i_qZle_gb_ gZ gbo hdZau\Zxl ijbylgu_ i_j_`b\Zgby \uau\Zxl eb ]em[hdmx j_Zdpbx jZ^hklgu_ kh[ulby kqZkleb\u_ i_j_`b\Zgby k_f_cgh_ kqZklv_ djZkhlZ ijbjh^u hsmsZxl eb hgb lj_i_l i_j_^ \_ebdbfb ijhba\_^_gbyfb bkdmkkl\Z WfhpbhgZevgu_ j_Zdpbb kbevg__ aZo\Zlu\Zxl lZdbo h[ke_^m_fuo dh]^Z j_qv b^_l h i_qZevguo kh[ulbyo gh hgb g_h[uqgh kbevgu lZd`_ b ijb jZ^hklguo Klhbl ebrv aZ]h\hjblv h kh[ulbyo fZehfZevkdb k\yaZgguo k wfhlb\gufb i_j_`b\Zgbyfb fbfbdZ lZdbo ex^_c \k_]^Z \ujZ`Z_l fy]dhk_j^_qb_ beb `Zehklv < iZlheh]bq_kdbo fZkrlZ[Zo wfhlb\guc l_fi_jZf_gl i_j_jZklZ_l \ j_Zdlb\gheZ[bevgmx ikbohiZlbx G_j_^dh m lZdbo ebp klZedb\Z_fky k j_Zdlb\ghc ^_ij_kkb_c bgh]^Z kh kdehgghklvxd kZfhm[bckl\m I_j_oh^y d Znn_dlb\ghwdaZevlbjh\Zgghfm l_fi_jZf_glm aZf_lbf ij_`^_ \k_]h qlh hlqZklb hg kjh^gb Znn_dlb\gheZ[bevghfm l_fi_jZf_glm Z hlqZklb ² wfhlb\ghfm LZdb_ ebqghklb kdehggu d ]em[hdhfm j_Z]bjh\Zgbx gZ hl^_evgu_ kh[ulby gh lZd`_ b d ^_ij_kkb\guf beb wcnhjbq_kdbf khklhygbyf \ rbjhdhf h[s_f ieZg_ Hl ebp dhlhjuf ijbkmsb wlb lbiu l_fi_jZf_glZhgb hlebqZxlky ba[uldhf wfhpbhgZevguo dhe_[Zgbc Hgb k lZdhc `_ e_]dhklvx \iZ^Zxl \ [_aml_rgh_ hlqZygb_ dZd b ih]jm`Zxlky \ \hklhj`_ggh_ [eZ`_gkl\hQ_eh\_dmm dhlhjh]hfuij_^iheZ]Z_f^Zgguclbil_fi_jZf_glZgm`ghaZ^Z\Zlv ijbf_jgh ke_^mxsb_ \hijhku kdehg_g eb hg \hh^mr_\eylvky fh`_l eb ]em[hdh b ]hjyqh hl^Zlvky dZdhfmgb[m^v ^_em bkiulu\Zlv \ k\yab k wlbf hkh[_ggh ijbih^gylh_ gZkljh_gb_ qm\kl\m_l eb hg k_[y ih^Z\e_gguf g_ijbylgufb i_j_`b\Zgbyfb kdehg_g eb kjZam \ lZdbo kemqZyokqblZlvqlh©\k_ih]b[ehªkfhljblebgZ[m^ms__k [_agZ^_`ghklvx < ijhp_kk_ kZfhc [_k_^u h[ke_^m_fu_ lZd`_ fh]ml aZgbfZlv lh \hklhj`_gghjZ^hklgmx ihabpbx ih ih\h^m lh]h qlh bo ljh]Z_l lh \ujZ`Zlv \a\hegh\Zggufb keh\Zfb ]hj_klgu_ j_Zdpbb ih ih\h^m i_qZevguo kh[ulbc Ihkdhevdm ijhy\ey_fu_ j_Zdpbb \_kvfZ iZl_lbqgu e_]dh ijbclb d aZdexq_gbx h gZebqbb bkl_jbq_kdbo q_jl oZjZdl_jZ Gh ih oh^m [_k_^u fu ihkl_i_ggh m[_`^Z_fky \ lhf qlh lml bf_xl f_klh g_ lhevdh yjdb_ \g_rgb_ ijhy\e_gby gh lZd`_b g_khfg_ggZybkdj_gghklvqm\kl\l_h[b]j_klhevk\hckl\_gghcbkl_jbdZfg_fh`_l [ulv b j_qb Ijhy\ey_fu_ wdaZevlbjh\Zgghc ebqghklvx qm\kl\Z \gmlj_gg_ ljh]Zxl gZk \ lh \j_fy dZd \ [_k_^_ k ebqghklvx bkl_jbq_kdhc fu ihklhyggh hsmsZ_f qlh ^Zevr_ ©nZkZ^Zª a^_kv ^_eh g_ b^_l Bf_ggh kZf oZjZdl_j \ujZ`_gby qm\kl\ gZ\h^bl gZ wlb fukeb ?keb \ ih^h[guokemqZyoijhn_kkbyh[ke_^m_fh]hg_k\yaZgZk Zjlbklbq_kdhc^_yl_evghklvxlh\k_]^Z gZ^h ki_pbZevgh jZkkijhkblv _]h h[ hlghr_gbb d bkdmkkl\m lZd dZd Zjlbklbq_kdbc \dmk wkl_lbaf qZklh y\ey_lky oZjZdl_jghc q_jlhc wlbo ex^_c Qj_af_jgh_ ijhy\e_gb_ qm\kl\ \hafh`gh \ gZijZ\e_gbb b jZ^hklguo b ]hj_klguo wfhpbc gh fh`_l [ulv b lZd qlh wfhpbhgZevgu_ i_j_`b\Zgby dZkZxlky \ hkgh\ghf h^gh]h dZdh]heb[h ihexkZ Z mdehg \ ^jm]mx klhjhgm \hafh`_g ebrv \ j_amevlZl_ hkh[h kbevgh]h klbfmeZ Ijb mdehg_ ij_bfms_kl\_ggh \ wcnhjbq_kdmx klhjhgm gZ[ex^Z_f e_]dh \hh^mr_\ey_fuo ebqghkl_c \ ^_ij_kkb\gmx²ebqghkl_cihklhyggh]hlh\uo\iZklv\ hlqZygb_²y ij_^eh`be[ugZau\Zlv bo lZd Ijb ba[ulhqguo kl_i_gb b l_fi_ Znn_dlb\ghwdaZevlbjh\Zgguo j_Zdpbc l _ \ l_o kemqZyo dh]^Z i_j_^ gZfb Znn_dlb\ghwdaZevlbjh\ZggZy pbdehlbfby gZ[ex^Z_lky iZlheh]bq_kdZyaZ\bkbfhklvhlwfhpbck l_g^_pb_cd j_ZdpbyflbiZdhjhldh]haZfudZgbyIjb ikbohiZlbbm [hevguofh]mllZd`_gZ[ex^Zlvkyij_bfms_kl\_gghijhlb\hiheh`gu_mdehgulh d e_]dhfm \hh^mr_\e_gbx lh d hlqZygbx Lj_\h`ghklv [hyaeb\hklv fh`_l [ulv dZd j_amevlZlhfZnn_dlb\ghcwdaZevlZpbblZdb i_j\bqgufk\hckl\hfebqghklbM ^_l_cqZklbqgh hlf_qZ_lky Zdp_glmZpby ebqghklb \ ieZg_ lj_\h`ghklb [hyaeb\hklb m \ajhkeuo lZdZy hlebqbl_evgZy q_jlZ qZs_ ijbkmsZ `_gsbgZf Ijb ij_^iheh`_gbb h[ Zdp_glmbjh\Zgghc lj_\h`ghklbj_dhf_g^m_lkyjZkkijhkblvaZf_qZekyeb\ ^_lkl\_kljZoi_j_^l_fghlhc]jhahc `b\hlgufb hkh[_ggh kh[ZdZfb i_j_^ klZjrbfb ^_lvfb b mqbl_eyfb LZdbf iml_f fh`gh ihemqblv gm`gu_ ^Zggu_ ?keb `_ gZ ih^h[gu_ \hijhku fu g_ ihemqZ_f ml\_j^bl_evgh]h hl\_lZohlykljZob gZoh^blih^l\_j`^_gb_\ ZgZfg_a_lhwlhagZqblqlh_]hijhbkoh`^_gb_ k\yaZgh k gZ\yaqb\uf g_\jhahf LZdZy ^bnn_j_gpbZpby ijb gZebqbb m q_eh\_dZ gZ\yaqb\h]h kljZoZ h[uqgh g_ ijh\h^blky gh hgZ bf__l kms_kl\_ggh_ agZq_gb_ ^ey [he__ lhqghc ^bZ]ghklbdb ebqghklb <hagbdgh\_gb_ nh[bb h[uqgh k\yaZgh g_ k i_j\bqghc [hyaeb\hklvx lj_\h`ghklvxZ kZgZgdZklbq_kdbfbq_jlZfb:dp_glmbjh\ZggZy[hyaeb\hklvm j_[_gdZfh`_l ^hklb]ZlviZlheh]bq_kdhckl_i_gbm \ajhkeuo`_wlhgZ[ex^Z_lkyebrv\ kemqZyom]jhauq_]h eb[h ba\g_ GZdhg_p qj_a\uqZcgh \Z`gh g_ ijh]ey^_lv hlq_leb\mx wdkljZ beb bgljh\_jlbjh\Zgghklv Ij_^iheh`bf qlh fu hij_^_ey_f g_ y\ey_lky eb h[ke_^m_fuc wdkljZ\_jlbjh\Zgghc ebqghklvx < lZdhf kemqZ_ ke_^m_l aZ^Z\Zlv \hijhku k\yaZggu_ k dhglZdlghklvx ^Zggh]h q_eh\_dZ ohjhrh eb hg mkljh_g \ `bagb h[eZ^Z_l eb ohjhr_c ijbkihkh[ey_fhklvx d h[klhyl_evkl\Zf e_]dh eb aZ\h^bl agZdhfkl\Z \klmiZ_l \ ^jm`_kdb_ hlghr_gby D dhglZdlghklb hlghkblky b \hijhk h[ hlghr_gbyo k ijhlb\hiheh`guf ihehf Hl\_lu gZ \k_ wlb \hijhku g_ \_^ml _s_ d h^ghagZqghc hp_gd_ ;he__ h^ghagZqgmx hp_gdm fh`gh ^Zlv ebrv ijh\_jb\ khhl\_lkl\m_l eb fg_gb_ h[ke_^m_fh]h h khpbZevguo iheblbq_kdbo j_eb]bhaguo \a]ey^Zo k_f_cguo hlghr_gbyo h[s_jZkijhkljZg_gghfm fg_gbx >Ze__kijZrb\Z_fdZdhgijh\h^blk\h[h^gh_\j_fyh[sZ_lkyebk ^jm]bfbex^vfb[_k_^Z h[sb_ aZgylby q_feb[h k ^jmavyfb Z _keb h[ke_^m_fuc dhee_dpbhg_j lh ^_eblky eb hg k ^jm]bfb dhee_dpbhg_jZfb bgnhjfZpb_c h gh\uo ijbh[j_l_gbyo ?keb h[ke_^m_fuc fgh]h qblZ_lkijZrb\Z_fdZdh]hjh^Zdgb]bhgij_^ihqblZ_lijb_fe_lebhgqblZ_fh_[_a^mfghbeb jZafurey_l gZ^ ijhba\_^_gb_f qlh bf_ggh bgl_j_km_l h[ke_^m_fh]h ijb ql_gbb dgb]b ijhkfhlj_ l_e_\babhgghc ijh]jZffu khkj_^hlhq_gh eb _]h \gbfZgb_ gZ dhgdj_lguo nZdlZo ?keb\hijhkug_kebrdhfkm]]_klb\gulhfh`ghihemqblv\iheg_^hklh\_jgu_hl\_lulZddZd aZqbke_gb_\ dZl_]hjbxwdkljZ\_jlbjh\Zgguoex^_ch[ke_^m_fu_hlgx^vg_kqblZxl^eyk_[y ihklu^guf ?kebfuij_^iheZ]Z_fbgljh\_jlbjh\ZggmxebqghklvjZkkijhkgm`ghlZd`_ij_`^_\k_]h gZqZlv k \hijhkZ h dhglZdlZo k ex^vfb Fh`gh gZijbf_j kijhkblv g_ ljm^gh eb h[ke_^m_fhfm aZ\yau\Zlv hlghr_gby k hdjm`Zxsbfb hkh[_ggh k ebpZfb ijhlb\hiheh`gh]h iheZ Gh b lml \Z`g__ ^jm]b_ \hijhku ex[bl eb h[ke_^m_fuc [ulv h^bg qlh[u ih^mfZlv khkj_^hlhq_ggh ihjZafureylv ex[be eb hg \ ^_lkl\_ dhee_dlb\gu_ ^_lkdb_ b]ju beb ij_^ihqblZe fZkl_jblv qlheb[h h^bg Bgl_j_kgh ijh\_klb k lZdbf q_eh\_dhf [_k_^u gZ khpbZevgmx h[s_kl\_gghiheblbq_kdmx b wkl_lbq_kdmx l_fu qlh[u mklZgh\blv _klv eb m g_]hkh[kl\_ggh_fg_gb_ihwlbf\hijhkZfBgh]^Zfh`ghihbgl_j_kh\Zlvkyg_\hagbdZxlebm g_]hhjb]bgZevgu_b^_bP_e_khh[jZaghlZd`_kijhkblvdZdh[ke_^m_fucijh\h^blk\h[h^gh_ \j_fy ² \ djm]m k_fvb k ^jmavyfb beb fh`_l [ulv aZ ql_gb_f beb ex[bfuf aZgylb_f \ dhlhjh_ \deZ^u\Z_l fgh]h l\hjq_kdhc nZglZabb ex[bl eb hg h^bghdb_ ijh]medb \h \j_fy dhlhjuoij_^Z_lky^mfZfb jZafure_gbyf ?kebihklZ\blvlZdb_Z \hafh`ghb ^jm]b_\hijhku\hagbdZxsb_ihoh^mh[ke_^h\Zgby fh`gh k ^hklh\_jghklvx hij_^_eblv wdkljZ beb bgljh\_jlbjh\Zggmx Zdp_glmZpbx Wlh ih^l\_j`^Z_lky b ih\_^_gb_f h[ke_^m_fh]h \h \j_fy ijb_fZ WdkljZ\_jlbjh\Zggu_ ebqghklb \k_]^Z]hlh\uhl\_qZlvgZ\hijhkub hq_gvhohlghkhh[sZxlk\_^_gbyh k_[_Ijbwlhfhgbg_ ^he]h jZa^mfu\Zxl ©\u^Zxlª h k_[_ bgnhjfZpbx hq_gv [ukljh Z bgh]^Z hl\_qZxl k bays_kl\hf \ lhf `_ lhg_ b jblf_ \ dhlhjhf [ue aZ^Zg \hijhk ?keb km^y ih \hijhkm h`b^Z_lky iheh`bl_evguc hl\_l lh hgb hl\_qZxl ©^Zª _keb \jZq g_\hevgh ij_^\hkobsZ_l hljbpZl_evguc hl\_l lh hg _]h b ihemqZ_l Gm`gh hq_gv ke_^blv aZ kh[hc qlh[u g_ ^Zlv h[ke_^m_fhfm ihqm\kl\h\Zlv dZdh]h hl\_lZ hl g_]h `^ml < wlhf hlghr_gbb bgljh\_jlbjh\Zggu_ ebqghklb hdZau\Zxlky [he__ kZfhklhyl_evgufb b \k_]^Z \_^ml k\hx ebgbx ?keb wdkljZ\_jlbjh\Zgghfm iZpb_glm ^Zlv dZdhcgb[m^v kh\_l beb \jZq_[gmx j_dhf_g^ZpbxhgkjZam]hlh\\k_fmihke_^h\Zlv?keb^Zggh_dZq_kl\h\ujZ`_ghhq_gvyjdh h[ke_^m_fucijhgbdZ_lky^h\_jb_fd \jZqmb \k__]hij_^ibkZgby]hlh\\uihegblvk ^_lkdhc ]hlh\ghklvx Hg kjZam gZqbgZ_l \b^_lv \h \jZq_ ^jm]Z b qm\kl\h\Zlv \ g_f g_ij_j_dZ_fuc Z\lhjbl_l Bgljh\_jlbjh\Zggu_ ebqghklb \ [_k_^_ hlebqZxlky k^_j`Zgghklvx jZa]h\hjqb\ufb klZgh\ylky ebrv lh]^Z dh]^Z khh[sZxl h k\hbo b^_yo beb ijbkljZklbyo <hh[s_ qZklh ^ey hl\_lh\lZdboex^_coZjZdl_jgZg_j_rbl_evghklvhgb_s_g_^Zebk_[_hlq_lZ\ kh[kl\_gghc mklZgh\d_ :dp_glmbjh\Zggu_ q_jluebqghklb Gb`_ jZkkfZljb\Zxlky jZaebqgu_ q_jlu oZjZdl_jZ b l_fi_jZf_glZ nhjfbjmxsb_ q_eh\_dZ dZd ebqghklv \ l_o kemqZyo dh]^Z hg ij_^klZ\ey_l kh[hc hldehg_gb_ hl g_dh_]h klZg^ZjlZ >_fhgkljZlb\gu_ebqghklb Kmsghklv^_fhgkljZlb\gh]hbebijb[he__\ujZ`_gghcZdp_glmZpbbbkl_jbq_kdh]hlbiZ aZdexqZ_lky \ ZghfZevghc kihkh[ghklb d \ul_kg_gbx Wlbf ihgylb_f ihevah\Zeky Nj_c^ dhlhjuc kh[kl\_ggh b \\_e _]h \ ikbobZljbx ]^_ hgh ihemqbeh gh\h_ kh^_j`Zgb_ ^Ze_dh hlhr_^r__ hl [md\Zevgh]h agZq_gby wlh]h keh\Z Kfuke ijhp_kkZ \ul_kg_gby m[_^bl_evgh beexkljbjm_lky \ ijb\_^_gghf gb`_ hlju\d_ ba Gbpr_ ©Ih lm klhjhgm ^h[jZ b aeZª ©Y k^_eZewlh²]h\hjblfg_iZfylvY g_fh]wlh]hk^_eZlv²]h\hjblfg_]hj^hklvhklZxsZyky\ wlhfkihj_g_mfhebfhcB \hlijboh^blfhf_gldh]^ZiZfylvgZdhg_phlklmiZ_lªF_oZgbaf \ul_kg_gby gZr_e k\h_ hljZ`_gb_ b \ ihklmidZo ]_jh_\ Ev\Z Lheklh]h Gb`_ fu \_jg_fky d lhfm gZkdhevdh hg ]em[hdh ² b dZd om^h`gbd b dZd ikboheh] ² hibku\Z_l ih^h[gu_ \gmlj_ggb_ dhgnebdlu Ih l_hjbb Nj_c^Z \ k\yab k \ul_kg_gb_f m`_ \ jZgg_f ^_lkl\_ \hagbdZ_lih^khagZl_evgucikbobq_kdbcfbjqj_a\uqZcgh^_ckl\_ggucij_^jZkiheZ]Zxsbcd \hagbdgh\_gbx\ihke_^kl\bbg_\jhaZFug_ijbkh_^bgy_fkyd khh[jZ`_gbyfNj_c^Zohlyb bkoh^bfbaZgZeh]bqgh]hiheh`_gbyq_eh\_dfh`_l\ hij_^_e_ggucfhf_glbeb^Z`_gZhq_gv ^ebl_evgh_ \j_fy \ul_kgblv ba iZfylb agZgb_ h kh[ulbyo dhlhju_ g_ fh]ml g_ [ulv _fm ba\_klgu Ih kmlb dZ`^uc ba gZk h[eZ^Z_l kihkh[ghklvx ihklmiZlv ih^h[guf h[jZahf k g_ijbylgufb ^ey k_[y nZdlZfb H^gZdh wlh \ul_kg_ggh_ agZgb_ h[uqgh hklZ_lky m ihjh]Z khagZgbyihwlhfmg_evayiheghklvxb]ghjbjh\Zlv_]hM bkl_jbdh\`_wlZkihkh[ghklvaZoh^bl hq_gv ^Ze_dh hgb fh]ml kh\k_f ©aZ[ulvª h lhf q_]h g_ `_eZxl agZlv hgb kihkh[gu e]Zlv \hh[s_ g_ hkhagZ\Zy qlh e]ml EbpZ \h\k_ qm`^u_ kihkh[ghklb d ^_fhgkljZpbb g_ ihcfml jZagbpu b khqlml g_ijZ\^m bkl_jbdZ kZfhc h[udgh\_gghc eh`vx hlkx^Z b l_g^_gpby lhedh\Zlv bkl_jbq_kdh_ ijbl\hjkl\h dZd kbfmeypbx Gbdlh g_ klZg_l hljbpZlv qlh f_`^m ©g_ijZ\^hcª bkl_jbdZ b h[udgh\_gghc eh`vx kms_kl\mxl ba\_klgu_ i_j_oh^u kdZ`_f [hevr_^Z`_bkl_jbdb\ [hevrbgkl\_kemqZ_\g_klhevm`g_hkhagZgghe]mlb ijbl\hjyxlkyB \k_ `_ klhbl h[jZlblvky d djZcgbf lbiZf j_Z]bjh\Zgby gZ[ex^Z_fuf m bkl_jbdh\ dZd jZaebqb_ kjZam [jhkblky \ ]eZaZ Bkl_jbd kihkh[_g d \ul_kg_gbx ^Z`_ nbabq_kdhc [heb GZijbf_j \dZeu\Zy k_[_ \ l_eh b]eu hg fh`_l g_ bkiulu\Zlv ijb wlhf [he_ag_gguo hsms_gbcIj_^klZ\bfk_[_bkl_jbdZdhlhjucgZoh^ykv\ aZdexq_gbbihklZ\bei_j_^kh[hc p_evihiZklv\ lxj_fgmx[hevgbpm>eywlh]hhgj_rbeijh]ehlblvq_j_ghdeh`dbbebdZdhc eb[h^jm]hcij_^f_lqlh_fmb m^Z_lkylZddZdhg©\udexqbeªg_ba[_`guc\ ih^h[ghfkemqZ_ j\hlguc j_ne_dk Bkl_jbd ke_^h\Zl_evgh mf__l ih^Z\eylv ^Z`_ nbabheh]bq_kdb_ j_ne_dku Q_eh\_d[_alZdh]hmf_gbyg_ijh]ehlblh[ehfhdeh`db^Z`_ih^kljZohfkf_jlbb[hj\hlguc j_ne_dk ihfbfh _]h \heb aZ^_j`bl eh`dm \ ]ehld_ ?keb mq_klv lZdh]h jh^Z nZdlu g_ljm^gh ihgylv qlh bkl_jbq_kdZy g_ijZ\^b\hklv kms_kl\_gguf h[jZahf hlebqZ_lky hl khagZl_evghc e`b Ih^l\_j`^_gb_f kem`bl ke_^mxs__ khihklZ\e_gb_ KhagZl_evgZy eh`v qZs_ \k_]h khijh\h`^Z_lky m]jua_gbyfb kh\_klb [hyagvx jZah[eZq_gby LZdZy eh`v k\yaZgZ kh kfms_gb_fbgh]^Zk aZf_rZl_evkl\hfg_j_^dhe`_paZeb\Z_lkydjZkdhcLheb^_ehbkl_jbdb Hgb e]ml k g_\bgguf \ujZ`_gb_f ebpZ ]h\hjyl k kh[_k_^gbdhf ^jm`_ex[gh ijhklh b ijZ\^b\hG_ijbgm`^_gghklvboih\_^_gbyh[tykgy_lkyl_fqlhhlty\e_ggZyeh`v^eybkl_jbdZ \ fhf_gl h[s_gby klZgh\blky bklbghc Q_eh\_d g_ \ kbeZo aZ\_^hfh e]Zlv gbq_f g_ \u^Z\Zy k_[y Dlh kihkh[_g lZd bkdmkgh mijZ\eylv fbfbdhc" HgZ \k_]^Z \u^Zkl e]mgZ G_h[oh^bfh ij_h^he_lv g_q_klghklv \gmlj_gg_ qlh[u gZqbklh ebd\b^bjh\Zlv __ \g_rgb_ ijhy\e_gby < ^Zevg_cr_fijbZgZeba_l_fu©:\Zglxjbklbq_kdb_ebqghklbªfum\b^bfqlhaZeh]hfmki_oZ ex^_c wlhc dZl_]hjbb y\ey_lky ^h\_jb_ \gmrZ_fh_ bo dZ`ms_cky bkdj_gghklvx \hafh`ghc [eZ]h^Zjylhfmqlh\gmlj_gg_hgbk\h_ce`bg_qm\kl\mxl G_kdhevdh bgh_ iheh`_gb_ \ l_o kemqZyo dh]^Z eh`v k mfukehf klZgh\blky ijb\uqghc dh]^Z q_eh\_d ©\oh^blª \ g__ GZijbf_j q_eh\_d g_kfhljy gZ \jZ`^_[gmx \gmlj_ggxx gZkljh_gghklvd m]g_lZl_exfh`_lijhy\blvihhlghr_gbxd g_fmjZ[he_igmxihdhjghklv^ey q_]hhlgx^vg_h[yaZl_evgh[ulvbkl_jbdhfKemqZbdh]^Zkdjhfgu_b jh[db_ex^b\ ijhp_kk_ h[s_gby \ujZ`Zxl k kh[_k_^gbdhf kh]eZkb_ ohly gZ kZfhf ^_e_ gbkdhevdh g_ jZa^_eyxl _]h fg_gbyh[s_ba\_klguEh`v ijh^mfZggZyaZjZg__ih^]hlh\e_ggZy^eydhgdj_lghckblmZpbb fh`_l [ulv ij_ih^g_k_gZ \_kvfZ m[_^bl_evgh Ihklhyggh \gmrZ_fh_ k_[_h[j_lZ_l \ ikbobd_ ex^_c hij_^_e_ggmx j_ev_nghklv \iehlv ^h ij_\jZs_gby \ klbfme jmdh\h^ysbc bo ihklmidZfb f_`^m l_f hgb gb gZ fbgmlm g_ aZ[u\Zxl h lhf qlh e]ml Ij_^iheh`bf dlhlh j_rbeh[fZgmlv\jZ]ZQ_eh\_dwlhlfh`_lgZklhevdhm^ZqghjZajZ[hlZlvlZdlbdmh[fZgZqlhb [_a \ul_kg_gby mk\hbl ijZ\^hih^h[gmx fZg_jm ih\_^_gby lhg \ukdZau\Zgbc Beb ^jm]hc ijbf_j M fh]beu aZ\_sZl_ey gZke_^gbd ^_fhgkljbjm_l ]em[hdmx i_qZev ohly \gmlj_gg_ hg jZ^b lhj`_kl\m_lKlhblh^gZdhkh[ulbyfkeh`blvkybgZq_q_fij_^iheZ]Zeh[fZgsbdklhbl _fm ihiZklv \ kblmZpbx g_ij_^mkfhlj_ggmx ^ey dhlhjhc ko_fZ ih\_^_gby bf aZjZg__ g_ jZajZ[hlZgZ dZdihy\ylky g_m\_j_gghklv b kfyl_gb_ Ij_`^_ \k_]h wlh ijhy\blky \ fbfbd_ Z aZl_fb \\ukdZau\Zgbyo < lh`_\j_fybkl_jbdiheghklvx\`b\rbcky\ jhevg_gm`^Z_lky\ lhfqlh[ukm^hjh`gh ijbkihkZ[eb\Zlv k\h_ ih\_^_gb_ d g_h`b^Zggh baf_gb\r_cky kblmZpbb Hg j_Z]bjm_l \k_c ebqghklvx\ ieZg_lhcjhebdhlhjmxhg\ ^Zggucfhf_glb]jZ_lWlh\`b\Zgb_\ jhevfh`_l aZclb gZklhevdh ^Ze_dh qlh bkl_jbd gZ \j_fy i_j_klZ_l ijbgbfZlv \ jZkq_l k\hx dhg_qgmx p_ev:\Zglxjbklbq_kdb_ebqghklbihjhc^_eZxl]jm[_crb_©hrb[dbª\ ]eZaZo h[t_dlb\gh]h gZ[ex^Zl_ey gZ dZdhcgb[m^v g_ij_^\b^_gguc ih\hjhl \ kh[ulbyo hgb \hc^y \ jhev j_Z]bjmxl bfimevkb\gh gbq_]h g_ \a\_rb\Zy b l_f kZfuf \u^Zxl k_[y k ]heh\hc G_j_^dh lZdb_ kju\u h[e_]qZxl jhaukdgmx jZ[hlm ihebpbb B _keb \hij_db wlbf ©hrb[dZfª Z\Zglxjbklbq_kdb_ ebqghklb \k_ `_ ^h[b\Zxlky k\hbo p_e_c lh l_f kZfuf ebrv ih^l\_j`^Z_lkyba\_klgZybklbgZqlhhdjm`Zxsbo e_]q_m[_^blvm\_j_gghcfZg_jhc^_j`Zlv k_[yq_feh]bq_kdbfbjZkkm`^_gbyfb ?keb`_Z\Zglxjbklbq_kdb_ebqghklbgZklhevdhm\e_dZxlkyk\h_cjhevxqlh\j_^ylk_[_ lhwlhijhbkoh^blihlhfmqlhkhklhygb_\ua\Zggh_\ul_kg_gb_feZ[bevghg_mklhcqb\h Bkl_jbq_kdb_e]mgu\uklmiZxlih^\ufure_ggufbbf_gZfbb lblmeZfbebrv^hl_oihj ihdZ\ wlhf_klvg_h[oh^bfhklvHgbgbdh]^Zg_khojZgyxlnZevrb\uolblmeh\k_[_\h\j_^g_ ihy\eyxlkyih^\ufure_ggufbbf_gZfbi_j_^ex^vfbdhlhju_boagZxl>_fhgkljZlb\gu_ ebqghklb\ ex[h_f]gh\_gb_fh]ml\ul_kgblvbak\h_cikbobdbagZgbyh dZdhfeb[hkh[ulbbZ ijb g_h[oh^bfhklb ©\kihfgblvª h g_f G_ bkdexq_gh h^gZdh qlh wlb ebqghklb iheghklvx fh]mlaZ[ulvlhqlhhgb^ebl_evgh_\j_fy\ul_kgyebbak\h_cikbobdb Hkh[_gghklv ^_fhgkljZlb\guo j_Zdpbc aZdexqZ_lky \ lhf qlh bo gZqZeh k\yaZgh k hkhagZggufbebohly[uqZklbqghhkhagZggufklj_fe_gb_fd q_fmeb[hGbh^gh`_eZgb_g_ fh`_l\hagbdgmlvZ[khexlghg_hkhagZgghg_fh`_lihy\blvkyg_hkhagZgghb m\_j_gghklvqlh _klvkihkh[ijb[ebablvkyd hkms_kl\e_gbxwlh]h`_eZgbyEbrvihke_lh]hdZdp_evijh\_^_gZ q_j_akhagZgb_^Zevg_cr__fh`_lijhl_dZlvm`_g_hkhagZgghDhg_qghgZf_j_gbyfh]mlb g_ [ulv knhjfbjh\Zgu \ \b^_ q_ldbo iheh`_gbc hgb g_j_^dh hdZau\Zxlky kl_jlufb \ul_kg_gb_f B \k_ `_ nZdl qlh \ dZdhclh f_j_ ohly [u qZklbqgh khagZgb_ bkl_jbdZ mqZkl\m_l \ ihklZgh\d_ p_eb mqblu\Z_lky ^Z`_ \ km^_[ghc ikbobZljbb aZ ijhklmidb bkl_jbq_kdbo h[fZgsbdh\ b Zn_jbklh\ km^hf ij_^mkfZljb\Z_lky ijbf_jgh lZ `_ f_jZ gZdZaZgbyqlhb aZgZjmr_gbyaZdhgZ\iheg_ghjfZevgufbZn_jbklZfbLZdhckm^_[gucih^oh^ g_ fh] [u kqblZlvky ijZ\hf_jguf _keb [u \hagbdgh\_gb_ `_eZgbc b p_e_c kh\k_f g_ dhgljhebjh\ZehkvkhagZgb_f Bkl_jbdohq_llh]h`_q_]hih\k_^g_\ghiulZxlky^h[blvkyh q_foehihqmlb g_dhlhju_ g_bkl_jbq_kdb_ebqghklb hg bs_l gZijbf_j \uoh^ba aZljm^gbl_evgh]hiheh`_gby ijh[m_l jZaj_rblv ^hkZ^guc dhgnebdl hleugb\Z_l hl ljm^h_fdhc jZ[hlu ^h[b\Z_lky fZl_jbZevguo kj_^kl\^eyhkms_kl\e_gbyk\hboieZgh\^eygZkeZ`^_gbyjZ^hklyfb`bagbb _fmdZdb \k_f ohl_ehkv [u ihevah\Zlvky Z\lhjbl_lhf \ k\h_f hdjm`_gbb GZ^h kdZaZlv qlh ij_keh\mlZy ©ihlj_[ghklv \ ijbagZgbbª dZd h^gZ ba fhlb\bjh\hd bkl_jbq_kdh]h j_Z]bjh\Zgby qZklh i_j_hp_gb\Z_lky \_^v fgh]b_ iheZ]Zxl qlh bf_ggh \ g_c aZdexqZ_lky gZb[he__ oZjZdl_jgZy hkh[_gghklv bkl_jbq_kdh]h lbiZ Fg_ ljm^gh ihgylv dZd fh]eh mdhj_gblvky wlh fg_gb_ dhlhjh_ hlklZb\Z_l f_`^m ijhqbf b lZdhc mq_guc dZd D RgZc^_j Ex[hfm \jZqm ohjhrh ba\_klgu gZijbf_j lZd gZau\Z_fu_ [hevgu_ j_glguf bkl_jbq_kdbf g_\jhahf dhlhju_ aZqZklmx g_ ijb^Zxl jh\gh gbdZdh]h agZq_gby ijbagZgbx Z ^h[b\Zxlky ebrv h^gh]h ² fZl_jbZevghc h[_ki_q_gghklb Bkl_jbq_kdb_ fhr_ggbdb lZd`_ qZs_ \k_]h bkoh^yl ebrv ba khh[jZ`_gbcdhjuklguoba^_g_`guobgl_j_kh\G_dhlhju_bkl_jbdb^_ckl\bl_evghklj_fylky ebrv d aZ\h_\Zgbx ijbagZgby <hafh`gh \ lZdhf kemqZ_ ke_^m_l ]h\hjblv h jZaebqbyo ikbobq_kdh]hih\_^_gbye_`Zsbo\hh[s_aZij_^_eZfbbkl_jbbdZdlZdh\hc Ihlj_[ghklv \ ijbagZgbb hdjm`Zxsbo kms_kl\m_l m fgh`_kl\Z ex^_c h^gZdh hgZ ih^\_j`_gZ agZqbl_evguf bg^b\b^mZevguf dhe_[Zgbyf G_ qm`^u wlh]h b ij_^klZ\bl_eb ^_fhgkljZlb\gh]h lbiZ G_ \k_ bkl_jbdb `Z`^ml ijbagZgby \ [hevr_c kl_i_gb q_f g_Zdp_glmbjh\Zggu_ebqghklb;ulvfh`_li_j\u_hlebqZxlkyhl\lhjuog_klhevdhgZebqb_f ^Zgghc ihlj_[ghklb kdhevdh mihjkl\hf k dhlhjuf hgb ^h[b\Zxlky k\h_]h Hgb b a^_kv \ul_kgyxl l _ ih^Z\eyxl lhjfhaZ ijhy\eyxsb_ky h[uqgh m q_eh\_dZ dh]^Z hg \iZ^Z_l \ kh[eZag\u^\bgmlvkyihqm\kl\h\Zlvk_[ygZi_j\hfieZg_LZdgZijbf_jg_Zdp_glmbjh\Zggu_ ebqghklb dZd ijZ\beh kZfb k_[y g_ jZko\Zeb\Zxl fgh]b_ ba gbo b ^Z`_ qZklh [ueb [u g_ ijhqv wlh ^_eZlv h^gZdh hgb hiZkZxlky \k_h[s_]h g_h^h[j_gby \_^v ba\_klgh qlh iho\ZeZ p_ggZ lh]^Z dh]^Z hgZ h[t_dlb\gZ Ebqghklv ^_fhgkljZlb\gZy fh`_l \ul_kgylv lZdb_ ghjfZevgu_ lhjfhaZ b ihemqZlv m^h\e_l\hj_gb_ hl kh[kl\_ggh]h [Zo\Zevkl\Z LZdbf h[jZahf bkl_jbdh[eZ^Z_l\ h[s_fg_[hevr_cihlj_[ghklvx\ ijbagZgbbq_f[hevrbgkl\hex^_cgh l_f g_ f_g__ kha^Z_lky bf_ggh lZdh_ \i_qZle_gb_ ihkdhevdm hg [he__ ^jm]bo kZfhgZ^_yg b dbqeb\ D keh\_kghfm kZfh\hko\Ze_gbx ijbkh_^bgy_lky ls_keZ\gh_ ih\_^_gb_ klj_fe_gb_ \kyq_kdbijb\e_qvd k_[_\gbfZgb_ijbkmlkl\mxsboIjhy\ey_lkywlhm`_\ ^_lkl\_j_[_ghd\ rdhe_jZkkdZau\Z_ljZaebqgu_bklhjbbqblZ_lklbobbh[eZ^Zykihkh[ghklvx\k_obkl_jbdh\ ©\`b\Zlvkyª\ jhev\_jghgZsmiu\Z_lgm`guclhgLh`_fh`ghgZ[ex^Zlvdh]^ZfZe_gvdbc ©ZjlbklªjZau]ju\Z_lkp_gdbi_j_^k\_jklgbdZfbbeb\ajhkeufbDZdijZ\behq_eh\_dh[uqgh kl_kgy_lky\u^_eylvkyqm\kl\m_lg_eh\dhklvklZgh\ykvp_gljhf\gbfZgby^Z`_\ l_okemqZyo dh]^Z _]h \u^_eyxl aZkem`_ggh hg kfmsZ_lky Ih^h[gh]h jh^Z kfms_gb_ ^_fhgkljZlb\ghc ebqghklb qm`^h Z ih\ur_gguc bgl_j_k kh klhjhgu hgZ ijbgbfZ_l k \_ebqZcrbf m^h\hevkl\b_fb klj_fblky©bkiblvqZrm^h^gZªEx[hiulghqlh_keb\gbfZgb_kh[jZ\rboky dZd [u\Z_l bgh]^Z ghkbl g_^hmf_\Zxsbc beb ^Z`_ g_h^h[jbl_evguc oZjZdl_j lh bkl_jbd e_]dh aZdju\Z_l gZ wlh ]eZaZ ebrv [u [ulv aZf_lguf QZs_ \k_]h bf_ggh wlm ihlj_[ghklv bkl_jbdh\ gZoh^blvky \ p_glj_ \gbfZgby ijbgbfZxl aZ ij_keh\mlmx `Z`^m ijbagZgby >_ckl\bl_evghfgh]b_^_fhgkljZlb\gu_ebqghklbhlebqZxlkymihjgufklj_fe_gb_f\ua\Zlvd k_[_\gbfZgb_hdjm`Zxsboohlywlhlh`_k\hckl\_gghg_\k_fbkl_jbdZf>Zggu_q_jlufh]ml [ulv k\yaZgu g_ k ih\ur_gghc ihlj_[ghklvx \ ijbagZgbb Z k g_^hklZldhf \u^_j`db k hlkmlkl\b_f lhjfh`_gby Ihwlhfm m lZdbo bkl_jbdh\ lh `_ k\hckl\h \u^\b]Z_l gZ i_j_^gbc ieZg bgu_ ohly lZd`_ km]m[h w]hbklbq_kdb_ mklj_fe_gby gZijbf_j [_am^_j`gmx `Z`^m gZ`b\uLh`_ke_^m_lkdZaZlvb h`Zehklbd k_[_dZdijhy\e_gbb^_fhgkljZlb\ghcebqghklb Q_eh\_d qZklh kdehg_g kqblZlv qlh ih hlghr_gbx d g_fm kh\_jr_gZ g_kijZ\_^eb\hklv qlh _]hg_aZkem`_gghihklb]m^Zjkm^v[uH[s_kl\hg_fh`_lh^h[jblv\ ih^h[guokemqZyolZdmx km[t_dlb\gmxihabpbxgZkdhevdhh[hkgh\Zggu`Zeh[uihkljZ^Z\r_]hkm^blvg__fmkZfhfm ^eywlh]hlj_[m_lkyh[t_dlb\gZyhp_gdZkblmZpbbkhklhjhguAgZywlhbkl_jbdZfke_^h\Zeh[u [ulv k^_j`Zgg__ \ k_lh\Zgbyo b h[\bg_gbyo Gh b a^_kv ©kjZ[Zlu\Z_lª \ul_kg_gb_ bkl_jbd jZajZ`Z_lky p_eufb lbjZ^Zfb h k\h_c ]hj_fuqghc ^he_ b \jZq [_ahrb[hqgh jZkihagZ_l qlh djh_lkyih^kljZ^Zevq_kdbf\b^hfih^ihahcfmq_gbdZ<_^vhgih\k_^g_\ghgZ[ex^Z_llh`_ kZfh_ m ^jm]bo k\hbo [hevguo dhlhju_ ©kiZkZxlky [_]kl\hf \ [he_agvª \u^mfZggufb kljZ^Zgbyfb klZjZxlky ijhba\_klb \i_qZle_gb_ gZ hdjm`Zxsbo jZa`Zeh[blv bo Ijboh^blky \ukemrb\Zlv ij_m\_ebq_ggu_ hibkZgby [he_ag_gguo y\e_gbc DZdbo lhevdh ih^jh[ghkl_c g_ \ukemrb\Z_l \jZq H [_amfguo fmq_gbyo h dZlZkljhn_ dh]^Z `bagv [hevgh]h \bk_eZ gZ \hehkd_\ijhq_fm]jhaZ_s_g_fbgh\ZeZ<k_wlhbaeZ]Z_lky\ kihdhcghch[klZgh\d_\ lbohf \jZq_[ghfdZ[bg_l_Z kZfh_ex[hiulgh_qlhb ihk_lbl_evg_ijhba\h^bl\i_qZle_gbyly`_eh [hevgh]hq_eh\_dZijhkljZggu_keh\_kgu_baebygbyih^^_j`b\ZxlkyZdlb\ghc`_klbdmeypb_c b fbfbdhc@Zehklvd k_[_i_j_ie_lZ_lkyk kZfh\hko\Ze_gb_fm`dZd[hevghcklZjZekyl_ji_lv fheqZ dZdmx kbem ^moZ \udZau\Ze dZdh_ kZfhh[eZ^Zgb_ b \k_ `_ \ dhgp_ dhgph\ [he_agv ih^dhkbeZ_]h< ih^h[guokemqZyoj_qvb^_lg_\k_]^Zh iZlheh]bbex^_cly`_ehkljZ^Zxsbo hl [he_ag_c g_fZeh Gh m ebqghkl_c ^_fhgkljZlb\gh]h lbiZ `Zeh[u ghkyl ih^q_jdgmluc gZahceb\ucoZjZdl_jlZddZdm gbo\ul_kg_ghghjfZevgh_lhjfh`_gb_Ke_^m_lmihfygmlv_s_ h[ h^ghc oZjZdl_jghc ^ey bkl_jbdZ q_jl_ ² h g_h[^mfZgghklb _]h ihklmidh\ DZd ba\_klgh bkl_jbdb \_kvfZ haZ[hq_gu \i_qZle_gb_f dhlhjh_ hgb ijhba\h^yl H^gZdh h[^mfZlv ebgbx ih\_^_gbyaZjZg__hgbg_kihkh[guHgbobljugZ\u^mfdbghwlmobljhklve_]dhjZah[eZqblv lZd dZd klj_fykv d p_eb lZdb_ ex^b [_a jZa[hjZ ihevamxlky ex[ufb kj_^kl\Zfb ?keb m bkl_jbdZ b f_evdZ_l fukev h \hafh`ghklb jZah[eZq_gby lh hg lml `_ __ \ul_kgbl \_^v [m^ms__ lmfZggh Z ^_fhgkljZlb\guc lbi \k_]^Z `b\_l fhf_glhf Bf_ggh ihwlhfm bkl_jbdb qZklh[hevr_l_jyxlq_f\ub]ju\ZxlKe_^m_lhlf_lblvqlhg_h[^mfZgghklvebgbbih\_^_gby y\ey_lkyijbagZdhf\ujZ`_gghcbkl_jbq_kdhcZdp_glmZpbbebqghklb LZdZy g_h[^mfZgghklv ij_djZsZ_lky ebrv \f_kl_ k i_j_hp_gdhc kZfhc p_eb dh]^Z m ^_fhgkljZlb\ghc ebqghklb jZa\b\Z_lky bkl_jbq_kdbc g_\jha LZd _keb `_eZgb_ ^h[blvky i_gkbhggh]h h[_ki_q_gby beb kljZo _]h ihl_jylv h\eZ^_\Zxl \k_fb ihfukeZfb q_eh\_dZ lh ih\_^_gb_ hij_^_ey_lky bkdexqbl_evgh ©i_gkbhgguf dhfie_dkhfª B \ kemqZ_ dh]^Z ih^ m]jham ihklZ\e_gZ kZfZy ]eZ\gZy p_ev bkl_jbd m`_ g_ jZaf_gb\Z_lky gZ fbgmlgu_ \kiurdb m^h\e_l\hj_gby <ijhq_f \ wlbo kemqZyo hg qZklh ihiZ^Z_l ©ba h]gy ^Z \ iheufyª Ij_^iheh`bf qlh ^ey ihemq_gby i_gkbb ih bg\Zeb^ghklb q_eh\_d \ugm`^_g ihklhyggh kbfmebjh\Zlv ojhfhlm beb \ l_q_gb_ ^ebl_evgh]h \j_f_gb \h\k_ g_ ih^gbfZlvky k ihkl_eb JZa\_hgg_h[j_dZ_lk_[yl_fkZfufgZ[hevrb_g_m^h[kl\Zq_f_keb[uj_]meyjghoh^begZ jZ[hlm" Ihy\e_gb_ k\_jop_gguo b^_c agZf_gm_l ^h[Z\e_gb_ iZjZghbq_kdbo q_jl d bkl_jbq_kdhfmlbim²iheh`_gb_d dhlhjhfmfu_s_\_jg_fkyFgh]b_bahibkZgguonZdlh\ b q_jloZjZdl_jZg_fh]mlg_gZklhjh`blv\jZqZH^gZdhg_ke_^m_lh^ghklhjhgg_ih^oh^blvd ^_fhgkljZlb\ghfm lbim < [ulm fgh]b_ oZjZdl_jgu_ q_jlu bkl_jbq_kdhc ikbobdb g_ [_a hkgh\Zgbc hp_gb\Zxlky iheh`bl_evgh LZd \ l_o ijhn_kkbyo ]^_ lj_[m_lky ijhgbdgh\_gb_ \ ikbobdm q_eh\_dZ mf_gb_ ijbkihkZ[eb\Zlvky d ^jm]bf hlghkblky d iheh`bl_evguf hkh[_gghklyf wlh]h lbiZ GZijbf_j \ kn_j_ h[kem`b\Zgby ex^b ^_fhgkljZlb\gh]h lbiZ jZ[hlZxl hkh[_ggh mki_rgh <havf_f ohly [u ijh^Z\ph\ hgb ij_\hkoh^gh ©qm\kl\mxlª ihdmiZl_ey b d dZ`^hfm gZsmiu\Zxl \_jguc ih^oh^ WlZ kihkh[ghklv k\yaZgZ k ^Zjhf ^_fhgkljZlb\ghc ebqghklb ©hlj_dZlvkyª hl k_[yb]jZy lm jhev dhlhjZy hkh[_ggh bfihgbjm_l iZjlg_jmLZdk ihdmiZl_e_fm\_j_gguf\eZklgufwlbijh^Z\puklZgh\ylkykdjhfgufb^Z`_ jh[dbfb k ihdmiZl_e_f aZkl_gqb\uf ^_j`Zl k_[y Zdlb\ghb wg_j]bqgh DZd ijZ\beh j_Zdpbb ijh^Z\pZg_Zdp_glmbjh\Zggh]hghkylgZk_[_hli_qZlhd_]hkh[kl\_gghcebqghklbqlh^Ze_dh g_\k_]^ZijbylghihdmiZl_exAZlh^_fhgkljZlb\gu_gZlmjum ijbeZ\dZkihkh[gud iheghfm ih^Z\e_gbxk\h_]h©yª >_fhgkljZlb\gZyebqghklvkihkh[gZk[ZeZgkbjh\Zlvhlghr_gbyijbly`_euokblmZpbyob k ly`_eufb ex^vfb ;jZd gZijbf_j fh`_l [ulv m^Zqguf bf_ggh \ kbem lh]h qlh h^bg ba kmijm]h\ h[eZ^Z_l mf_gb_f ijbkihkZ[eb\Zlvky Gh ]eZ\ghc iheh`bl_evghc hkh[_gghklvx ex^_c bkl_jbq_kdh]h lbiZ y\eyxlky bo Zjlbklbq_kdb_ kihkh[ghklb gZ dhlhjuo fu ^_lZevg__ hklZgh\bfkygb`_LZd`_fh`ghh[tykgblvb hkh[uc^Zj^_fhgkljZlb\ghcebqghklb\gmrZlvd k_[_qm\kl\hkbfiZlbbex[\bQZklhj_[_gdZk \ujZ`_ggufbbkl_jbq_kdbfbq_jlZfbkqblZxl ©iZbgvdhcª©ijbf_jgufªZ m`_kebkemqblkyqlhhggZrZebllhdZdg_ijhklblv_]h\_^vk d_fg_[u\Z_lRZehklblZdbo^_l_cg_klhevm`j_^dbohlyhgbgbdh]^Zg_rZeylgZ]eZaZom \hkiblZl_ey Hlghr_gb_ d \hkiblZl_ex g_baf_ggh \_`eb\h_ \u^_j`Zggh_ j_[_ghd k ihemkeh\Zih^qbgy_lkylj_[h\ZgbyfAZlhkj_^bk\hbok\_jklgbdh\beb^jm]bo\ajhkeuolZdh_ ^bkpbiebgbjh\Zggh_ ^bly g_j_^dh keu\_l fZe_gvdbf w]hbklhf D h^ghdeZkkgbdZf ©iZbgvdZª hlghkblky \jZ`^_[gh ]hlh\ hq_jgblv bo \ ]eZaZo mqbl_ey ^_ckl\my g_q_klgufb f_lh^Zfb Z \hkiblZl_evhohlgh\ukemrb\Z_l©ijbf_jgh]hªmq_gbdZb \_jbl_fm>_fhgkljZlb\gucj_[_ghd e`_l g_ khagZ\Zy k_[y e]mghf < khhl\_lkl\bb k hkh[_gghklyfb \hajZklZ \ul_kg_gb_ m ^_l_c ijhbkoh^bl _s_ e_]q_ q_f m \ajhkeuo FZe_gvdb_ kie_lgbdb b de_\_lgbdb qZs_ \k_]h ijbgZ^e_`Zl d ebqghklyf ^_fhgkljZlb\guf Lh `_ ih\_^_gb_ khojZgy_lky b m \ajhkeuo ;eZ]h^Zjy mf_gbx ijbkihkZ[eb\Zlvky ex^b ^_fhgkljZlb\gh]h lbiZ [ukljh gZoh^yl ^jma_c dhlhjuoijb\e_dZ_lboh[sbl_evghklv]hlh\ghklvmkem`blvd ^jm]bf`_q_jlZfgh\u_^jmavy g_ ijbkfZljb\Zxlky Ex[hiulgh qlh \ lh \j_fy dZd h[t_dlb\gh m [hevghc dhgklZlbjm_lky hlkmlkl\b_ \heb d ljm^m dhee_]b ih jZ[hl_ g_j_^dh o\Zeyl __ aZ ljm^hex[b_ Hgb gZklhevdh hke_ie_gu __ h[oh^bl_evghklvx qlh g_ fh]ml ^Z`_ ih^mfZlv h g_c iehoh <ijhq_f h[oh^bl_evghklv ijhy\ey_lky bkl_jbdZfb ebrv lZf ]^_ hgZ bf \u]h^gZ < hlghr_gbyo k ^jm]bfb khljm^gbdZfb aZgbfZxsbfb ^himklbf f_g__ \ukhdmx ^he`ghklv ijhy\eyxlky bo w]hbklbq_kdb_ mklj_fe_gby Dhgdmj_gl ih^\_j]Z_lky gZiZ^dZf bkih^lbrdZ ijhlb\ g_]h ie_lmlkybgljb]b<klj_qZ_lkyb ^\hcgZyb]jZdh]^Zklj_fylky©kg_klbªkjZam^\mokhi_jgbdh\ ²kgZqZeZh^gh]haZl_f^jm]h]hBkl_jbdgZqbgZ_lk lh]hqlhevklblb \djZ^u\Z_lky\ ^h\_jb_ i_j\h]h bkih^\hev gZqbgZy q_jgblv \ _]h ]eZaZo \lhjh]h aZl_f ijhbkoh^bl h[jZlgh_ ² mklZgZ\eb\Z_lky dhglZdl kh \lhjuf dhlhjhfm de_\_sml gZ i_j\h]h HibkZggh_ mjh^kl\h ih\_^_gbyihdZau\Z_ldZdfZehjZa\blm ^_fhgkljZlb\guoebqghkl_cwlbq_kdbcdhfie_dkQlh `_ dZkZ_lky kZfbo nhjf ih\_^_gby \ ^Zgghf kemqZ_ ² [_kkh\_klgh]h b [_aaZkl_gqb\h]h ijbl\hjkl\Z ² lh hgb oZjZdl_jgu ^ey bkl_jbq_kdh]h lbiZ Mf_gb_ ijbkihkZ[eb\Zlvky ke_^h\Zl_evgh fh`_l ijb\h^blv b d hljbpZl_evguf j_amevlZlZf I_j_c^_f d hibkZgbx jy^Z ^_fhgkljZlb\guo ebqghkl_c ij_`^_ \k_]h l_o fZl_jbZe h dhlhjuo [ue kh[jZg \h \j_fy ij_[u\Zgbyh[ke_^m_fuo\ debgbdZogZijb_f_m \jZqZ\ ijhp_kk_[_k_^k gbfbIjb\_^m^\Z kemqZy ih^jh[gh hibkZgguo Hlj_f[Z \ gZr_f dhee_dlb\ghf ljm^_ ©GhjfZevgu_ b iZlheh]bq_kdb_ebqghklbªY lZd`_gZ[ex^Zewlboh[ke_^m_fuo ?\Z<]jh`^feZ^rZybak_fb^_l_cex[bfbpZ\k_ck_fvb< ^_lkl\_[ueZ`b\hc \_k_ehc \ rdhe_ mqbeZkv ohjhrh Ih hdhgqZgbb rdheu g_dhlhjh_ \j_fy gb]^_ g_ jZ[hlZeZ ydh[u g_ iha\heyeh keZ[h_ a^hjh\v_ < e_l ihreZ mq_gbp_c \ fZ]Zabg `_eZy ijbh[j_klb ijhn_kkbxijh^Z\pZMq_gbyg_aZdhgqbeZ< e_l\ureZaZfm`aZbg`_g_jZgZe_lklZjr_ __<oZjZdl_jbam_lk\h_aZfm`_kl\hdZd ©[jZd^ey h[_ki_q_gby kms_kl\h\Zgbyª Q_j_a e_l bf_y ^\hbo ^_l_c jZa\_eZkv k fm`_f ydh[u baaZ _]h baf_g ?c \u^_ey_lky ^_g_`gZy ih^^_j`dZg_fgh]hhgZih^jZ[Zlu\Z_lkZfZIhijhkv[_jh^bl_e_ci_j_oh^bld gbfghhq_gv kdhjhgZqbgZ_l`Ze_lvh[wlhf__ g_mkljZb\Zxl©kl_kg_ggu_h[klhyl_evkl\Zª\ jh^ghf^hf_ D wlhfm \j_f_gb hgZ \klmiZ_l \ k\yav k `_gZluf q_eh\_dhf [_j_f_gghklv __ aZdZgqb\Z_lky \udb^ur_f< ]m g__gZqbgZxlkyikboh]_ggu_ijbklmiui_j\uc²ihke_agZdhfkl\Zk q_eh\_dhfaZdhlhjh]hjh^bl_ebohlyl\u^Zlv__ aZfm`HgZjZkkdZau\Z_lh[wlhf©< ]heh\_ \^jm] \k_ ihfmlbehkv Z jmdb gZqZeb ijhba\h^blv dZdb_lh \jZsZl_evgu_ ^\b`_gbyª Kh \j_f_g_f ih f_j_ gZdhie_gby ©jZahqZjh\Zgbcª dZd hgZ kZfZ \ujZ`Z_lky ijbklmiu mqZsZxlkyH^bg__ j_[_ghdmfbjZ_lhl\hkiZe_gbyfha]h\uoh[hehq_d\ ]<l_jy_lfZlv Ijh^he`bl_evgZy [he__ ^\mo e_l bglbfgZy k\yav g_ ijbghkbl kqZklvy lZd dZd __ ba[jZggbd hdZau\Z_lkyZedh]hebdhf< ]<\i_j\u_ihklmiZ_l\ [hevgbpmihih\h^mijbklmih\<u ibkZ\rbkv `b\_l m k\h_c k_klju mkljZb\Z_lky gZ jZ[hlm kZ^h\gbdhf gh m^h\e_l\hj_gby wlZ ^_yl_evghklvg_ ^Z_l ihkdhevdm hgZ ©ihklhygghohq_l k^_eZlv [hevr_ q_f fh`_lª < ] \gh\v ihklmiZ_l gZ ^he`ghklv ijh^Z\pZ b hiylv mqZsZxlky ijbklmiu < kgh\Z ihiZ^Z_l \ debgbdm Hkgh\gu_ __ `Zeh[u mlhfey_fhklv ih\ur_ggZy qm\kl\bl_evghklv b ^mjgh_ gZkljh_gb_ <g_rg_ ijbklmiu ijhy\eyxlky gZ wlhl jZa ke_^mxsbf h[jZahf hgZ \^jm] hklZgZ\eb\Z_lky \i_jb\ \ahj \ ijhkljZgkl\h k`bfZ_l dmeZdb b ^_eZ_l Z\lhfZlbq_kdb_ ^\b`_gbyjmdZfbIjbiZ^dbgZqbgZxlkyqZs_\k_]hdh]^Z_c\ q_feb[hhldZau\Zxl©M f_gy lZdh_qm\kl\h[m^lh`blvg_fh]m[hevr_²lZdhibku\Z_lijbklmi<²baf_gymoh^bl\ky `bag_ggZy wg_j]byª Ihke_ ijbklmiZ hgZ g_ agZ_l ]^_ gZoh^blky G_j_^dh < ^_eblky k hdjm`Zxsbfb qlh ohq_l i_j_clb gZ bg\Zeb^ghklv < debgbd_ _c wlh g_ m^Z_lky H^gZdh iha^g__ ^hfZrgbc \jZq mklZgZ\eb\Z_l _c ^bZ]gha ©gZjmr_gb_ djh\hh[jZs_gbyª b _c \k_ `_ hnhjfeyxl bg\Zeb^ghklv L_i_jv < `b\_l \f_kl_ k ^hq_jvx ^hqv ² iZjbdfZo_j ydh[u ohjhrhm`b\Z_lkyk g_c< ]kgh\ZihiZ^Z_l\ [hevgbpm\ k\yabk `Zeh[ZfbgZmiZ^hdkbe b ^_ij_kkb\gh_ khklhygb_ Ij_^ijbgbfZ_lky ihiuldZ ikbohl_jZi_\lbq_kdh]h e_q_gby Ih\_^_gb_ < g_jh\gh_ lh hgZ ijb\_leb\Z ij_^mij_^bl_evgZ ih^q_jdgmlh \_`eb\Z lh gZqbgZ_lky^_fhgkljZlb\gh_g_^h\hevkl\hg_kdhgqZ_fu_ihlhdb`Zeh[gZk\h_khklhygb_HgZ k \hkobs_gb_f ]h\hjbl h[ ha^hjZ\eb\Zxs_f ^_ckl\bb kihjlZ gh dZl_]hjbq_kdb hldZau\Z_lky ijhclbdmjkj_Z[beblZpbbIkboh]_ggu_ijbklmiuijh^he`Zxlky GZ wlhf ijbf_j_ fh`gh ijhke_^blv jZa\blb_ ^_fhgkljZlb\ghc ebqghklb k jZgg_]h ^_lkl\Z Lh qlh < [ueZ feZ^r_c \ k_fv_ g_khfg_ggh h[tykgy_l __ ba[Zeh\Zgghklv < lh `_ \j_fyhgZhlebqghagZeZdZd\_klbk_[yqlh[ukhojZgblv\ebygb_gZjh^bl_e_cFh`_l[ulv hgZ hlghkbeZkv d dZl_]hjbb \ur_hibkZgguo ©ijbf_jguoª ^_\hq_d Dh]^Z iha`_ gZqZebkv `Zeh[u gZ mlhfey_fhklv keZ[hklv lh \ wlhf ihfbfh \k_]h ijhq_]h kdZaZehkv b g_`_eZgb_ ljm^blvkyHghlhb hij_^_ebeh\k_^Zevg_cr__l_q_gb___ `bagbLhhgZklZjZeZkvgZclbk_[_ fm`Zg_aZbgl_j_kh\Zggh]h\ __aZjieZl_qlh[uklZlv_]hb`^b\_gdhclh^h[b\ZeZkv^_g_`ghc ihfhsbih[he_agbihbg\Zeb^ghklb?keb`___`_eZgbylZdb hklZ\Zebkvg_hkms_kl\e_ggufb ²hkh[_gghfgh]hg_m^Zqb kju\h\[ueh\ hlghr_gbyo<k fm`qbgZfb²lhb wlh\ g_fZehc kl_i_gb j_amevlZl __ bkl_jbq_kdh]h ih\_^_gby M \lhjhc h[ke_^m_fhc gZ i_j\uc ieZg \uklmiZ_l ihlj_[ghklv \ ijbagZgbb HlqZklb wlZ ihlj_[ghklv ^Z\ZeZ b iheh`bl_evgu_ j_amevlZluihkdhevdmjZ[hlmiha\hey\rmx_cgZoh^blvky\ p_glj_\gbfZgbyhgZ\uihegyeZk [hevrhcklZjZl_evghklvx O_^\b] ; ] jh`^ ihke_ hdhgqZgby kj_^g_c Z aZl_f lhj]h\hc rdheu klZeZ dhglhjsbp_cHgZohjhrh©ijb`beZkvªgZi_j\hf`_f_kl_jZ[hluKhljm^gbdbhlghkbebkvd g_cdZdfeZ^r_c\ dhee_dlb\_hkh[_ggh\gbfZl_evghH^gZdhm ;\kdhj_gZqZehkvaZ[he_\Zgb_ dbrhd g_dhlhjh_ \j_fy hgZ g_ jZ[hlZeZ <lhjmx b lj_lvx ^he`ghklv ; l_jy_l baaZ ebd\b^Zpbb mqj_`^_gbc < ]h^Z hgZ ihreZ jZ[hlZlv gZ dhg^bl_jkdmx nZ[jbdm \ hl^_e j_deZfu < l_q_gb_ e_l hgZ jZ[hlZeZ a^_kv k mki_ohf ©GZ wlhc jZ[hl_ ² ]h\hjbl hgZ ² \Z`ghijhba\h^blvgZex^_c\i_qZle_gb_H^_\ZlvkygZ^hZddmjZlghb kh\dmkhfZ y\k_]^Zwlh ex[beZª GjZ\bebkv _c b \uklmie_gby i_j_^ ex^vfb ih_a^db \h \j_fy dhlhjuo ihy\eyebkv gh\u_ agZdhfkl\Z fgh`_kl\h bgl_j_kguo \i_qZle_gbc <kdhj_ __ gZagZqbeb aZ\_^mxs_c hl^_ehfj_deZfu< ]wlm^he`ghklvlZd`_ebd\b^bjh\Zeb\ k\yabk \h_ggufj_`bfhf; klZeZ jZ[hlZlv \ ]hjh^kdbo Z^fbgbkljZlb\guohj]ZgZo JZ[hlZ ih ijb_fm ihk_lbl_e_c \gZqZe_ ijbghkbeZ _c m^h\e_l\hj_gb_ gh \kdhj_ hdZaZehkv qlh gZ^h ijhclb dmjk ihem\h_gghc ih^]hlh\db b [ulv ]hlh\hc d hlijZ\d_ \ hddmibjh\Zggu_ h[eZklb hl q_]h [hevgZy \kyq_kdb iulZeZkvmdehgblvky< j_amevlZl_²dhgnebdluk gZqZevkl\hfGZwlhljZa; ke_]eZk ^bZ]ghahf ©g_\jhak_j^pZªb ©bklhs_gb_g_j\ghckbkl_fuªAZl_fijbkh_^bgbebkvijbklmiuebohjZ^db ©M f_gy k ^_lkl\Z i_jbh^bq_kdb [u\Zxl g_ihgylgu_ aZ[he_\Zgby ² jZkkdZau\Z_l ; ² hgb khijh\h`^Zxlkyhq_gv\ukhdhcl_fi_jZlmjhc²^h kbevgufhagh[hfIhke_wlh]h^gyljb qm\kl\mx[hevrmxkeZ[hklvª< wlb©ijbklmiuebohjZ^dbª__ gZqZevkl\hg_\_jbehgh\k_`_ _cm^Zehkvm\heblvkyihke_q_]hkhklhygb_memqrbehkv< ]hgZ[ueZijb\e_q_gZd jZ[hl_ \ jZchgghf`bebsghfmijZ\e_gbbA^_kvhl^Z\ZeZkvk\hbfh[yaZgghklyfk [hevrbfj\_gb_fb qm\kl\h\ZeZ k_[y \iheg_ ^h\hevghc ohly \ ] b jZa\_eZkv k fm`_f ©fm` qZklh _a^be \ dhfZg^bjh\dbaZ\h^beex[h\gbpª < ] ; ihemqbeZ \ ]hjh^kdhf mijZ\e_gbb ©aZ ljm^h\u_ aZkem]bª hl\_lkl\_ggh_ ihjmq_gb_ k dhlhjuf hlebqgh kijZ\beZkv Ih wlhfm ih\h^m hgZ khh[sbeZ qlh \kx `bagv ex[beZ©h\eZ^_\Zlvgh\ufª_keb`__cm^Z\Zehkv^hklbqvp_eblhi_j_^Z\ZeZ^ZggucmqZklhd jZ[hlu ^jm]bf Z kZfZ klj_fbeZkv ihemqblv ^jm]h_ gh\h_ aZ^Zgb_ b hl^Zlv _fm ©\k_ kbeuª < ] _c \gh\v ihjmqbeb hl\_lkl\_gguc mqZklhd LZf m\u ijboh^behkv ih __ keh\Zf jZ[hlZlv ih q \ kmldb lZd qlh gZ wlhl jZa hgZ ihjmq_gb_ g_ \uihegbeZ < j_amevlZl_ i_j_mlhfe_gby ² [he_agv gh \uc^y gZ jZ[hlm hgZ kgh\Z \ugm`^_gZ aZgbfZlvky ljm^hf lj_[mxsbf gZijy`_gby ©\k_o kbeª ; qm\kl\m_l k_[y \k_ [he__ keZ[hc klZgh\blky \yehc b h^gZ`^u hgZ \h\k_ g_ kfh]eZ ih^gylvky k ihkl_eb \k_ m g__ ©[he_eh b guehª <k_klhjhgg__ f_^bpbgkdh_ h[ke_^h\Zgb_ g_ \uy\beh hj]Zgbq_kdbo aZ[he_\Zgbc < ] ; m\hebeZkv hdhgqZl_evgh>h]hgZ[ueZgZ^hfgbp_c\uihegyeZjZaebqgu_dmklZjgu_jZ[hluaZl_f mkljhbeZkv j_]bkljZlhjhf gZ [bj`m ljm^Z ]^_ baaZ ihklhygguo dhgnebdlh\ k ihk_lbl_eyfb hiylv ihqm\kl\h\ZeZ k_[y iehoh GZqZebkv agZdhfu_ kbfilhfu [he_agb Z ijb [hevrbo \heg_gbyo ² ©h[fhjhdbª Ih kh\_lm \jZqZ ; q_j_a ]h^ kgh\Z hklZ\ey_l jZ[hlm b \j_f_ggh i_j_oh^bl gZ i_gkbx < ] ; \lhjbqgh \uoh^bl aZfm` Fm` __ kgZqZeZ jZ[hlZ_l \ ]hjh^kdhf mijZ\e_gbb Z k ] gZqbgZ_l ljm^blvky \ k_evkdhf ohayckl\_ <gZqZe_ ; \uihegy_l \ ^_j_\g_ ebrv [_kieZlgu_ h[s_kl\_ggu_ ihjmq_gby HgZ ljm^blky Zdlb\gh ^h[b\Z_lky \ukhdbo ihdZaZl_e_c Ihke_ lh]h dZd kjhd bg\Zeb^ghklb bkl_d klZgh\blky qe_ghf k_evkdhohayckl\_gghc Zjl_eb IhdZ ijboh^blky hk\Zb\Zlv gh\h_ hj]Zgbah\u\Zlv ; ^h[jhkh\_klgZhlebqghkijZ\ey_lkyk ^_ehfGh\kydh_nbabq_kdh_mkbeb_\uau\Z_lagZdhfh_ [he_ag_ggh_ khklhygb_ Dh]^Z aZ[he_e b fm` < h[Z hgb hdhgqZl_evgh hklZ\eyxl jZ[hlm \ k_evkdhohayckl\_gghc Zjl_eb K ] ; gZqbgZ_l jZ[hlZlv \ dZgp_eyjbb >hfZ bg\Zeb^h\ b \kdhj_ klZgh\blky _]h aZ\_^mxs_c K\h_c ^_yl_evghklb hgZ hl^Z_lky p_ebdhf wg_j]bqgZ ij_^ijbbfqb\Z i_j\h_ \j_fy qm\kl\m_l ihegh_ m^h\e_l\hj_gb_ Gh ; klZjZ_lky ©\uj\Zlv ^ey k\h_]h>hfZªih[hevr_\u]h^qlhijb\h^bld dhgnebdlZfk \ur_klhysbfbmqj_`^_gbyfbb lh]^Z__ aZ\_^h\Zgb_^_eZ_lky_c\ ly]hklvKgh\Zihy\eyxlkyijbagZdb[he_agb^_ij_kkb\gu_ khklhygby [hev \ kibg_ HgZ i_j_oh^bl gZ kh\k_f e_]dmx jZ[hlm \ ^jm]hc dZgp_eyjbb Gh b a^_kv __ \kdhj_ mqblu\Zy aZkem]b \u^\b]Zxl gZ ihkl gZqZevgbdZ B hiylv \k_ b^_l dZd b ij_`^_ g_dhlhjh_ \j_fy ; ² ^_evguc Zdlb\guc hj]ZgbaZlhj gh g_ fh`_l ij_h^he_lv ^Z`_ g_agZqbl_evguo ljm^ghkl_c kjZam ©himkdZ_lkyª D lhfm `_ ly`_eh aZ[he_\Z_l fm`bg\Zeb^ kljZ^Zxsbc[he_agvxihq_dB \hlkgh\Z;l_jy_ljZ[hlhkihkh[ghklvFm`__ mfbjZ_l\ ] ihke_ hi_jZpbb F_`^m l_f ; oehihq_l h[ bg\Zeb^ghklb ^ey k_[y gh ihemqZ_l hldZa lZd dZd ijblsZl_evghfh[ke_^h\Zgbbhj]Zgbq_kdh_aZ[he_\Zgb_g_\uy\e_ghLy`_eh_jZahqZjh\Zgb_\ ih^jm]_ dhlhjZy ihk_ebeZkv m g__ ihke_ kf_jlb fm`Z mkm]m[ey_l [he_agv ; Ihke_ wlh]h ihke_^g_]hnbZkdhhgZkh]eZrZ_lkyijhclbklZpbhgZjgucdmjkikbohl_jZi_\lbq_kdh]he_q_gby <h\j_fyij_[u\Zgby;\ debgbd_\k_f[jhkZehkv\ ]eZaZ__ ^_fhgkljZlb\gh_ih\_^_gb_HgZ \k_]^Z ]h\hjbeZ ]jhfdh \ ih\ur_ggh h`b\e_gghf lhg_ khijh\h`^Zy j_qv fbfbdhc b `_klbdmeypb_c Z bgh]^Z ijhklh jZau]ju\ZeZ p_eu_ kp_gdb dZd gZklhysZy ZjlbkldZ G_ijbylgh_ \i_qZle_gb_ ijhba\h^beh g_mf_j_ggh_ kZfh\hko\Ze_gb_ ; b __ lbjZ^u h k\h_c g_kqZkleb\hc km^v[_ LZd gZijbf_j hgZ jZkkdZau\ZeZ i_jkhgZem b [hevguf qlh \h \j_fy k_f_cguolhj`_kl\ihklhyggh\uklmiZeZk g_[hevrbfbj_qZfb b \hh[s_ \k_]^Z gZoh^beZkv \ p_glj_\gbfZgby GZ ijhly`_gbb \k_c `bagb ; fu hlf_qZ_f dhe_[Zgby f_`^m ohjhrbfb j_amevlZlZfb jZ[hlub g_khklhyl_evghklvxkju\ZfbJZ[hlZygZ^he`ghklyoh[_ki_qb\ZxsboZ\lhjbl_lgh_ iheh`_gb_ qlh \hafh`gh [ueh k\yaZgh b k jZpbhgZebaZlhjkdbfb b^_yfb ; hgZ ljm^beZkv hohlghb \_kvfZwnn_dlb\ghLZd\ l_q_gb_e_l[m^mqb\gZqZe_jy^h\ufjZ[hlgbdhfaZl_f aZ\_^mxs_c j_deZfgh]h hl^_eZ dhg^bl_jkdhc nZ[jbdb hgZ \uklmiZeZ i_j_^ ex^vfb b ijb\e_deZg_fZehgh\uoihlj_[bl_e_c< ^Zgghf\b^_^_yl_evghklb_cg_khfg_gghhdZau\Zeh ihfhsvk\hckl\_ggh_bkl_jbdZfmf_gb_ijbkihkZ[eb\Zlvkykihkh[ghklv\gbdZlv\ ikboheh]bx hdjm`Zxsbo LZdh]h jh^Z jZ[hlZ \k_klhjhgg_ m^h\e_l\hjyeZ ; dhfi_gkbjmy g_ba[_`gu_ ©ba^_j`dbª ² ihl_jx kbe bklhs_gb_ g_j\ghc kbkl_fu Lhjfh`_gby lZdhc kZfhm\_j_gghc hkh[_ [ueb dhg_qgh qm`^u GZ^f_gghklv b q\Zgkl\h dhlhjuo ^jm]b_ ihklu^bebkv [u hdZaZebkv __ \lhjuf ©yª GZ^h iheZ]Zlv qlh b gZijy`_gb_ ijb\h^b\r__ d kju\Zf [ueh g_ klhev m` \_ebdh qlh hgZ ij_m\_ebqb\ZeZ _]h \ k\hbo `Zeh[Zo \jZqm `_eZy ihdZaZlv k_[y \ \u]h^ghfk\_l_Dh]^Zkeurbrvh qZkh\hfjZ[hq_f^g_g_\hevgh^mfZ_rvh[bkl_jbq_kdhf ij_m\_ebq_gbb ; dZd k\hbo aZkem] lZd b kihkh[ghkl_c Gh ihke_ dZ`^h]h ih^t_fZ m wlhc [hevghcgZklmiZekiZ^Dh]^ZhgZ[jZeZkvaZjZ[hlm\ dhlhjhchdZau\ZeZkv©h^ghcbafgh]boª ]^_ lj_[h\Zehkv ijhklh ih^qbg_gb_ b q_ldh_ \uiheg_gb_ kem`_[gh]h ^he]Z hgZ \kydbc jZa ©aZ[he_\ZeZª ^_fhgkljbjh\ZeZ nbabq_kdh_ g_^hfh]Zgb_ keZ[hklv h[fhjhdb jZkkdZau\ZeZ h lZbgkl\_gguo hagh[Zo dhlhju_ ihq_fmlh gb jZam g_ m^Zehkv gZ[ex^Zlv \jZqZf M wlhc h[ke_^m_fhcfudhgklZlbjm_f^\_oZjZdl_jgu_nhjfubkl_jbq_kdboj_ZdpbckZfhm\_j_gghklv k\yaZggmxqZklbqghk ljm^h\ufb^hklb`_gbyfbb [_]kl\h\ [he_agv< ljm^h\hc^_yl_evghklb hgZijhy\eyeZlZd`_b mf_gb_ijbkihkZ[eb\ZlvkyDZdfghcm`_hlf_qZehkv©>_lkdb_g_\jhau b ^_lkdb_ ebqghklbª Zdp_glmbjh\Zggu_ q_jlu oZjZdl_jZ e_]dh jZkihagZxlky m`_ \ ^_lkdhf \hajZkl_IjZ\^Z\ke_^kl\b_hkh[_gghkl_c^_lkdhcikbobdbhgbihemqZxlhkh[mxhdjZkdmgh \ ijbgpbi_wlhl_`_q_jluqlhb m\ajhkeuoIhq_fmm j_[_gdZq_jlu^_fhgkljZlb\gh]hlbiZ ih`Zemc[he__aZf_lguq_fm \ajhkeh]h"Ihlhfmqlh^_lb\hh[s_[uklj__\k_aZ[u\Zxlg_ kihkh[guaZjZg__gZf_lblvebgbxih\_^_gbyb j_Z]bjmxlg_h[^mfu\Zyihke_^kl\bcIjZ\^Z jy^ nbabheh]bq_kdbo kbfilhfh\ \ajhkeuo bkl_jbdh\ ^_lyf qm`^ \ kbem bo \hajZklguo hkh[_gghkl_c aZlh hgb qZs_ obljyl h[fZgu\Zxl aZgbfZxlky f_edbf \hjh\kl\hf Ijb\_^m ijbf_j^_fhgkljZlb\gh]hj_[_gdZhibkZggh]hJbol_jhf\ gZr_fkh\f_klghfljm^_ FZgmweZ Kl ihklmibeZ gZ e_q_gb_ \ gZrm debgbdm dh]^Z _c [ueh e_l Hl_p ^_\hqdb g_j\gucbfimevkb\gucq_eh\_dex[bl__aZsbsZ_lhlk\h_c\lhjhc`_guFZlvj_[_gdZ[ueZ e_]dhfuke_gguf w]hbklbqguf kms_kl\hf <kdhj_ ihke_ jh`^_gby F hgZ hl^ZeZ __ gZ ihi_q_gb_ l_ldb Hl_p f_`^m l_f ih\lhjgh `_gbeky gZ `_gsbg_ fheh^hc b wg_j]bqghc h^gZdhh[s_]hyaudZk ^_\hqdhchgZlZdb g_gZreZHll_ldb^_\hqdZi_j_reZ`blvd hlpmb fZq_o_\ \hajZkl_]h^ZHl_pmij_dZe`_gmkqblZyqlhhgZhlghkblkyd Fg_h[t_dlb\gh\h \k_fij_^ihqblZy_ck\h_]hkh[kl\_ggh]hkugZ[jZlZF< rdhe_F\k_]^Z[ueZg_ZddmjZlghc ^_\hqdhc ]jyagme_c HgZ g_ ke_^beZ gb aZ kh[hc gb aZ \_sZfb ihklhyggh gZijbf_j l_jyeZ Z\lhjmqdbGhom`_\k_]h[uehlhqlhhgZihklhygghe]ZeZb lZcdhfaZ[bjZeZm khmq_gbp\_sb LZdhgZklZsbeZqm`hcaZ\ljZdohlym g__[ueijbg_k_ggucba^hfm[ml_j[jh^IjbwlhfhgZ \f_kl_kh\k_fbklZjZl_evghjZaukdb\ZeZ_x`_mdjZ^_ggucaZ\ljZdmihjghhljbpZylhqlhwlh hgZ _]h \ayeZ M ^jm]h]h j_[_gdZ hgZ aZ[jZeZ ^_gv]b b i_gZe < fZ]Zabg_ ihoblbeZ iZd_lbd `_\Zl_evghcj_abgdb DjZ`b hgZ kh\_jrZeZ g_ aZf_lgh b lZd eh\dh qlh __ gbdlh b gbdh]^Z \ wlhfg_aZih^hajbe< ^Zevg_cr_fFk kh\_jr_gghkihdhcgufb g_\bgguf\ujZ`_gb_febpZ \k_gZqbklhhljbpZeZG_kdhevdhjZahgZm[_]ZeZbardheugh^eymqbl_evgbpub jh^bl_e_cm g__\k_]^Z[uehgZ]hlh\_\iheg_ijb_fe_fh_h[tykg_gb_>hfZhgZaZ[jZeZdhibedmm feZ^r_]h [jZlZ\ugmeZ^_gv]bb gZdmibeZk_[_eZdhfkl\?keb[u\ZehFkehfZ_lohjhrmxb]jmrdmlh kijyq_l__lZdbkdmkghqlhjh^bl_eyfgbdh]^Z__g_gZclb Ijb wlhf hgZkZfZ k ]hlh\ghklvx \dexqZeZkv \ ihbkdb b]jmrdb H^gZ`^u hl_p \ha\jZsZykv ^hfhc \b^_e dZd ^_\hqdZ \u[jZku\ZeZ aZ hdgh ^\_ [mehqdb Ijb^y ^hfhc hl_p kijhkbe \dmkgu_ eb [ueb dmie_ggu_ mljhf [mehqdb ©>Z hq_gv \dmkgu_ ² hl\_lbeZ F ² Y kt_eZ k\hb b _s_ [mehqdb [jZlbdZ \ijb^Zqmª Ibsm g_ gjZ\b\rmxky _c F ihijhklm aZkh\u\ZeZ ih^ ^b\Zg <hh[s_ `_ __ \k_ kqblZeb j_[_gdhf ihkemrguf eZkdh\uf gbdlh [u b g_ ih^mfZe h[\bgblv __ \ \hjh\kl\_ obljhklb kdjulghklb GZ gZdZaZgby hgZ ihqlb g_ j_Z]bjh\ZeZ K [jZlhf F eZ^beZ gh [jhkZehkv\ ]eZaZhlkmlkl\b_dhglZdlZk ^jm]bfb^_lvfb\ rdhe_< gZr_fhl^_e_gbbF[ukljh hk\hbeZkvb [_aljm^Zijbkihkh[beZkvd ^_lkdhfmdhee_dlb\mHgZklZjZeZkv[ulvijb\_leb\hc ijhba\_klb\i_qZle_gb_kihdhcghcq_klghc\gbfZl_evghc^_\hqdbWlhg_f_rZeh_c^jZagblv ^_l_c ba ^jm]bo hl^_e_gbc aZ^bjZlvky k gbfb Dh]^Z __ kijZrb\Zeb h ijbqbgZo wlbo kkhj kh k\_jklgbdZfbhgZg_^hmf_\ZeZdjbqZeZb hljbpZeZk\hx\bgm<kdhj_ihke_lZdboh[tykg_gbc hgZ kgh\Z bkdZeZ h[s_gby [ueZ ijb\_leb\Z b gZkljh_gZ \_kvfZ ^jm`_ex[gh KgZqZeZ aZ h[ke_^m_fhc \ debgbd_ aZf_qZeb g_agZqbl_evgu_ djZ`b Gh ih^ dhg_p ij_[u\Zgby hgb ij_djZlbebkv ^_\hqdZ klZeZ [he__ ZddmjZlghc b ih^lygmlhc >h kZfh]h dhgpZ e_q_gby ijboh^behkv j_]meyjgh dhgljhebjh\Zlv \uiheg_gb_ _x rdhevguo aZ^Zgbc h^gZdh k kZfbfb aZ^ZgbyfbFkijZ\eyeZkv[_aljm^ZQ_j_a]h^Zkhklhygb_Fhiylv[uehij_`gbfKj_^b__ \_s_cjh^bl_eb\k__s_h[gZjm`b\ZebmdjZ^_ggu_ij_^f_lu©Z _kebkijhkbrvhldm^Zhgb\k_ jZ\gh kh\j_lª Mqbl_ey ihklhyggh `Zeh\Zebkv gZ __ g_hijylghklv jh^bl_eb ij_^ijbgbfZeb ihiuldbk^Zlv__ \bgl_jgZl < kemqZ_FZgmweufuklZedb\Z_fkyk j_adh \ujZ`_gghc kihkh[ghklvx d \ul_kg_gbx ?_ gbqmlvg_kfmsZebh[\bg_gby\ g_q_klghklb?kebijyfuomebdkh\_jr_gbydjZ`bg_[uehhgZ k g_\bgguf\ahjhfhljbpZeZnZdlu?kebmq_klvqlh^_l_c\ h[s_fe_]dhkfmlblvlh fh`gh iheZ]Zlvqlh g_\bggh_ \ujZ`_gb_ ebpZ FZgmweu [ueh g_ijbl\hjguf qlh^_\hqdZ \gmlj_gg_ g_qm\kl\h\ZeZk_[ygbe]mgv_cgb \hjh\dhcQ_ldhijhy\ey_lkym h[ke_^m_fhcb lbibqgZy^ey bkl_jbdh\kihkh[ghklvjZau]ju\Zlv©ijbf_jgmx^_\hqdmªb de_\_lZlvgZ^jm]bo^_l_cOhly\ ih\_^_gbb FZgmweu khpbZevgu_ ghjfu j_adh gZjmr_gu h^gZdh g_evay gZ wlhf hkgh\Zgbb ijh]ghabjh\Zlvqlh\ ^Zevg_cr_fhgZ ij_\jZlblky \ bkl_jbq_kdmx ikbohiZldm Ij_`^_ \k_]h ke_^m_lmq_klvhljbpZl_evgh_\ebygb_\hkiblZgby<ajhkeu_\_ebk_[yihhlghr_gbxd j_[_gdm [_agm`ghcl\_j^hklbqZklhg_ihke_^h\Zl_evghGZ^hiheZ]Zlvqlhg_bkdj_gghklvx\ keh\Zob ihklmidZohgZfh]eZ^h[b\Zlvkyba\_klguo©\u]h^ª< ^Zevg_cr_fFZgmweZfh`_ljZa\blvky\ Zdp_glmbjh\Zggmx ebqghklv k ohjhrbf mf_gb_f ijbkihkZ[eb\Zlvky Gh \ ijbgpbi_ hgZ gZ \k_]^ZkhojZgbloZjZdl_jgu_q_jlu^_fhgkljZlb\gh]hlbiZlZddZdhgbaZeh`_gu\ kljmdlmj_ __ ebqghklb Ijb\_^_f _s_ h^bg ijbf_j ijbq_f aZjZg__ mdZ`_f qlh m hibku\Z_fhc h[ke_^m_fhc hlgx^v g_ h[yaZl_evgh ^he`gu [ueb ihy\blvky ZkhpbZevgu_ ihklmidb ?_ khljm^gbdbb gZqZevkl\hh[gZjm`bebdZdm\b^bfg_agZgb_q_eh\_q_kdhcikbobdbkebrdhf_c ^h\_jyebb wlhhdZaZehgZ;\j_^gh_\ha^_ckl\b_G_bkdexq_ghb lhqlhhgZ[ueZ©m^h[gZª dhee_dlb\mhgZij_^eZ]ZeZmkem]bbfbhohlghb [_a^mfghihevah\Zebkv =_jljm^m;y \i_j\u_m\b^_edh]^Z_c[ueh]h^Z;eZ]h^ZjyohjhrhjZa\blhfmmf_gbx ijbkihkZ[eb\Zlvky hgZ ihevah\ZeZkv ihimeyjghklvx \ l_o mqj_`^_gbyo ]^_ jZ[hlZeZ ?_ ijb\_leb\hklvx b ]hlh\ghklvx mkem`blv \k_ ]hlh\u [ueb \hkihevah\Zlvky g_ aZf_qZy kZfh^h\hevkl\Z ; __ klj_fe_gby \u^\bgmlvky ihklhyggh [ulv \ p_glj_ \gbfZgby kdju\Z\rboky aZ h[Zyl_evghc meu[dhc HgZ ² ^h fhf_glZ jZah[eZq_gby ² ijbk\Zb\ZeZ y\eyykv^h\_j_ggufebphf^_gv]b\k_\hafh`gh]hgZagZq_gbygZijbf_j^_gv]b\u^_e_ggu_gZ ijb_f]hkl_cij_^ijbylbyijb_oZ\rboagZdhfblvkyk _]hjZ[hlhc^_gv]bihemq_ggu_badZkk ^ey\uieZlukhljm^gbdZf^_gv]bgZmkljhckl\hg_[hevrboi_jkhgZevguoijZa^g_kl\\ dhglhj_ beb p_oZo b gZdhg_p ^Z`_ kmffu k^Zggu_ gZ ijbh[j_l_gb_ ljZmjguo \_gdh\ ^ey ihohjhg Qlh[ug_hl\_qZlvaZobs_gbyhgZih^^_eu\ZeZih^ibkbgZ^hdmf_glZoih^lbjZeZb baf_gyeZ kmffugZ^_g_`guoi_j_\h^Zob q_dZoDhgqbehkvl_fqlhhgZmlZbeZb ijbk\hbeZfZjhd kh[jZgguo_x^eymieZluijhnkhxaguo\aghkh\HgZkbkl_fZlbq_kdbijbk\Zb\ZeZ^_gv]bfm`Z ljZly bo ih k\h_fm mkfhlj_gbx fZjhd hgZ ©ihl_jyeZª fZjhd m g__ ©mdjZebª HgZ aZgbfZeZ kheb^gu_ kmffu ^ey j_fhglZ k\h_c d\Zjlbju ^ey ijbh[j_l_gby \_s_c \ ^hf `Zemykv qlh ©fm` ^_g_] g_ ^Z_lª H^he`_ggu_ ^_gv]b hgZ ljZlbeZ gZ ebqgu_ jZkoh^u Y [_k_^h\Ze k h[ke_^m_fhc g_kdhevdh jZa <h \j_fy i_j\hc [_k_^u __ ih\_^_gb_ [ueh \_kvfZ ^_fhgkljZlb\guf hgZ g_^hmf_\ZeZ qlh keurbl lZdb_ mij_db ieZdZeZ k\Zeb\ZeZ \bgm gZ ^jm]bo\ hkh[_gghklbgZfm`ZIha^g__mf_gb_ijbkihkZ[eb\Zlvkyh^_j`Zeh\_johgZm`_g_ hljbpZeZk\h_c\bgubah[jZ`ZeZjZkdZy\rmxky]j_rgbpmaZ\_jyyqlhlZdh_gbdh]^Z\ `bagb g_ ih\lhjblky OZjZdl_jgh ke_^mxs__ hgZ ijbagZ\ZeZkv lhevdh \ lhf qlh m^Z\Zehkv mklZgh\blvke_^h\Zl_exaZwlbfbij_^_eZfb^eyg__\k_[ueh©ihdjulhfjZdhfªGZ]eZaZom ke_^h\Zl_eyhgZbah[jZ`ZeZdjZcg__m^b\e_gb_dh]^Zjhaukdh[gZjm`b\Zegh\u_obs_gby Fh`gh kdZaZlv k m\_j_gghklvx qlh q_eh\_d lZd ^he]h Z ]eZ\gh_ [_agZdZaZggh kh\_jrZxsbc ij_klmie_gby fh`_l [ulv lhevdh ^_fhgkljZlb\ghc ebqghklvx <_^v ; fh]eZ _`_qZkghh`b^Zlvqlhkl_deygguc^\hj_pdhlhjuchgZk_[_khhjm^beZjmog_lm[_^beZkvhgZ b \ lhf qlh fm`m \k_ ykg__ klZgh\ylky __ ijh^_edb b \k_ `_ ^_j`bl k_[y k \uau\Zxs_c kZfhm\_j_gghklvxg_\hafmlbfhijh^he`Zyh[fZgu\Zlvb ijbk\Zb\Zlvqmh_;ihklhyggh`beZ ebrv l_f \ q_f kZfZ ohl_eZ k_[y m[_^blv Z l_ fhf_glu dhlhju_ fh]eb [u __ bah[ebqblv \ul_kgyeZLZdhgZb ijh^he`ZeZkms_kl\h\Zlvgbq_]hg_[hykvg_agZym]jua_gbckh\_klbB \k_ `_ y g_ hlg_k [u ^Zggmx h[ke_^m_fmx d bkl_jbq_kdbf ikbohiZlZf i_j_^ gZfb y\gh \ujZ`_gguc kemqZc ^_fhgkljZlb\ghc ebqghklb ?_ mf_gb_ ijbkihkZ[eb\Zlvky g_keh \ k_[_ iheh`bl_evgh_ gZqZeh g_khfg_ggh hgZ [ueZ [u kihkh[gZ b gZ ohjhrb_ ihklmidb _keb [u mkeh\by`bagb[eZ]hijbylkl\h\ZebwlhfmFhyhp_gdZklZg_lykg__ihke_lh]hdZdfukjZ\gbf ; k ^jm]bf h[ke_^m_fuf Kdehgghklv d ZkhpbZevghfm ih\_^_gbx [ueZ m g_]h \ujZ`_gZ dm^Z [he__ yjdh Z f_^bpbgkdh_ h[ke_^h\Zgb_ iha\hebeh mklZgh\blv lbibqgmx dZjlbgm ly`_ehc bkl_jbq_kdhcikbohiZlbb :evnj_^P]jh`^\ rdhe_mqbekyohjhrhIhhdhgqZgbbrdheuihklhygghf_gye jZ[hlm;uekZgblZjhfjZ[hqbfkljhbl_e_f`_e_agh^hjh`gbdhfjZaghjZ[hqbfghihke_^g__ \j_fy`belhevdhgZ^_gv]bijbh[j_l_ggu_g_q_klgufiml_f< ]lhevdhqlh\uc^ygZ k\h[h^m ihke_ hq_j_^gh]h lxj_fgh]h aZdexq_gby hg mdjZe \_ehkbi_^ b lml `_ _]h ijh^Ze mdjZeh^_`^mihemqbei_gkbxaZih`bemx`_gsbgm^h\_jy\rmx_fmb ijbk\hbewlmkmffm <u deygqb\Zy ^_gv]b ©\aZcfuª m jZaguo ex^_c hg aZl_f bkq_aZe AgZdhfhc klZjmrd_ hg ihh[_sZehdZaZlvihfhsvijbi_j__a^_gZ^jm]mxd\Zjlbjmihemqbehlg__^h\_j_gghklvb fZjhdihke_q_]hbkq_aG_kdhevdhjZaPjZau]ju\Zywdkdmjkh\h^Zkh[bjZem lmjbklh\^_gv]b gZ ©dmevlihoh^ª \ l_Zljgh[be_lh\ gb jZam g_ dmibe <_jhylg__ \k_]h fgh]b_ _]h h[fZgu b ijZ\hgZjmr_gby^hkm^ZlZdb g_^hoh^beblZddZdihklhyggh]hf_klZ`bl_evkl\Zm Pg_[ueh ;hevr_c qZklvx hg gZoh^be ijbklZgbs_ m h^bghdbo `_gsbg gh [jZqguf Zn_jbklhf g_ y\eyeky<h\j_fyfhbo[_k_^k Py g_keurZehlg_]hijbagZgby\ k\h_c\bgh\ghklbDh]^Zy i_j_qbkebe \k_ ba\_klgu_ fg_ gZdZam_fu_ ^_ckl\by kh\_jr_ggu_ bf P \hkdebdgme \ iZl_lbq_kdhf lhg_ ©Mkljhbeb [u f_gy gZ ijbebqgmx jZ[hlm lh]^Z y ^h lZdh]h gb aZ qlh \ `bagbg_^hr_e[uªDh]^Z_fm\hajZabebqlh\k_gZqZehkvk _]hijhklmidh\qlhihke_gbolh b ihy\bebkv ljm^ghklb k ijbbkdZgb_f jZ[hlu hg kgh\Z iZl_lbq_kdb \udjbdb\Ze \iZ\ \ khklhygb_ ^ebl_evgh]h \ha[m`^_gby ©>Zcl_ fg_ ljm^blvky y fhex \Zk h[ wlhf \u m\b^bl_ j_amevlZlª Hg `_klbdmebjh\Ze \klZ\Ze kgh\Z kZ^beky dmeZdZfb klmqZe ih [_^jZf [be k_[y ih]heh\_Ihke_wlhc\kiurdbhgijh^_fhgkljbjh\ZehlqZygb_klZe\koebiu\ZlvP^hlZdhc kl_i_gb\a\bglbek_[y`Zehklvxd kZfhfmk_[_qlhgZqZeju^Zlv<_kv\ ke_aZohg\udjbdb\Ze ©Gm^Zgmkh\_jrZey ijhklmidb\k_agZxghgZ^h\_^vb kijhkblvq_eh\_dZdZdhg^hr_e^h `bagb lZdhcª Wlhl \aju\ Znn_dlZ g_h`b^Zggh [ue ij_j\Zg kfbjguf ©JZaj_rbl_ aZdmjblvª <g_aZiguckiZ^\ha[m`^_gbyi_j_oh^d kihdhcghfm©[ulh\hfmªjZa]h\hjmijhba\_eihbklbg_ dhfbq_kdh_ \i_qZle_gb_ <ijhq_f \ha[m`^_gb_ P ihqlb lml `_ \_jgmehkv kgh\Z l_i_jv hg lj_[h\Ze^Zlv_fmdZdh_eb[hihjmq_gb_\ debgbd_b ijbwlhf\k_\koebiu\Ze?fmmdZaZebqlh i_j_^ gbf kh[kl\_ggh ]h\hjy [ueZ \ky `bagv gh kbkl_fZlbq_kdb hg ihq_fmlh gbdh]^Z g_ jZ[hlZeLmlhg\^jm]dZd[uhkhagZek\hbijhklmidbb aZ[em`^_gby©<k_lZd: \_^vij_`^_y jZ[hlZe ?keb [u fhb [_^gu_ fZlv b hl_p agZeb ^h q_]h y ^hr_e hgb [u \ ]jh[m i_j_\_jgmebkvª GZ wlh P \hajZabeb qlh [hevrbgkl\h ijhklmidh\ hg kh \_jrbe _s_ ijb `bagbjh^bl_e_c K\h_c kZfhm\_j_gghklvx b iZnhkhf P m[_^bl_evgh ihdZaZe qlh \ _]h ebp_ fu klhedgmebkv k bkl_jbq_kdbf ikbohiZlhf b qlh ke_^h\Zl_evgh hg ih^e_`bl km^_[ghc hl\_lkl\_gghklbLhqghlZd`_dZdgZijb_f_m f_gyhgijheb\Zeke_augZ^k\h_c]hj_fuqghc ^he_c hg fh] b djZklv b h[fZgu\Zlv b mlZb\Zlv b jZkljZqb\Zlv g_ hkhagZ\Zy iheghklvx ihjhqghklb k\h_]h ih\_^_gby IZnhk bkl_jbdh\ \hh[s_ lbibq_g dZd nhjfZ ih\_^_gby IZl_lbq_kdb_ keh\Z fbfbdZ `_klu dZ`mlky bf aZkem`b\Zxsbfb hkh[h]h ^h\_jby M g_ki_pbZebklh\ hgb g_j_^dh ^h[b\Zxlky mki_oZ gh ^Z`_ b wlb ©g_ihk\ys_ggu_ª bglmblb\gh qm\kl\mxl qlh aZ klhev gZahceb\hc b ^Z`_ [_kp_j_fhgghc nhjfhc g_ fh]ml kdju\Zlvky bkdj_ggb_qm\kl\Zih^ebgghklvkh^_j`ZgbyGZijb_f_m \jZqZ^_fhgkljZlb\gu_ebqghklb_s_ mkm]m[eyxl Znn_dlbjh\Zggmx fZg_jm ih\_^_gby qlh[u \a\bglblv k_[y emqr_ \hclb \ jhev IZl_lbq_kdb hibku\Zy gZijbf_j k\hx [hev hgb ebrgbc jZa m[_`^Zxlky \ ly`_klb kh[kl\_gguo kljZ^Zgbc ?keb `_ ^Zlv ihgylv bkl_jbdm qlh _fm g_ \_jyl lh Znn_dlZpby ^h\h^blky bf ^h djZcghklb G_dhlhju_ [hevgu_ iheZ]Zxl \b^bfh qlh q_f [hevr_ hgb wfhpbhgZevgh \ha[m`^_gu l_f e_]q_ m[_^blv \jZqZ \ k\h_f ly`_ehf khklhygbb >jm]b_ iulZxlky m[_^blv \ k\hbo kljZ^Zgbyo k_[y kZfbo < `Zehklb d k_[_ hgb gZoh^yl m^h\e_l\hj_gb_Z fukevh lhfqlh\jZqg_\_jblbfih^kl_]b\Z_lboaZklZ\ey_lqm\kl\h\Zlv k_[ybklbggufbfmq_gbdZfb?kebbkl_jbd\ k\hboj_Zdpbyol_jy_ldhgljhevgZ^l_fijb\_^ml eb wlb j_Zdpbb d p_eb lh wlh k\b^_l_evkl\m_l h[ ZghfZevguo ikbobq_kdbo y\e_gbyo IhemqZ_lky ke_^mxsZy dZjlbgZ bkl_jbd ^h[b\Z_lky lh]h beb bgh]h j_amevlZlZ ^ey q_]h bkdmkgh imkdZ_l \ oh^ jZaebqgu_ ijb_fu kihkh[kl\mxsb_ _]h ^hklb`_gbx h^gZdh hg gZklhevdh\oh^bl\ jhevqlhijb_fuij_\jZsZxlky\ kZfhp_evZ \_^ms__gZf_j_gb_dhlhjh_ klhblaZgbfb[e_^g__lb l_jy_lq_ldb_hq_jlZgbyY kdehg_gmkfZljb\Zlv\ wlhfdjbl_jbc k ihfhsvxdhlhjh]hfh`ghhij_^_eblvhlghkblkyeb^ZggZyebqghklvd bkl_jbq_kdhfmlbimbeb `_m g__hlf_qZ_lkyiZlheh]byikbobdbG_dhlhju_[hevgu_gZklhevdhohjhrh\eZ^_xlkh[hc qlh bo mf_gb_ ijbkihkZ[eb\Zlvky d kblmZpbb khojZgy_lky Z ^_fhgkljZlb\gh_ ih\_^_gb_ g_ ghkbl ]jm[h ]bi_jljhnbjh\Zggh]h oZjZdl_jZ \ kemqZ_ _keb ^ey bo `_ ihevau kh\_jr_ggh hq_\b^gh ij_bfms_kl\h kihdhcghc fZg_ju ih\_^_gby < lZdhf h[ke_^m_fhf ke_^m_l mkfZljb\Zlv ^_fhgkljZlb\gmx ebqghklv Z g_ bkl_jbq_kdh]h ikbohiZlZ H[ke_^m_fmx ; \ hlebqb_ hl P g_ ihdb^Zeh mf_gb_ ijbkihkZ[eb\Zlvky Ebrv \h \j_fy i_j\hc [_k_^u hgZ ijhy\beZ g_dhlhjmx gZahceb\hklv \ ^Zevg_cr_f `_ iheghklvx hldZaZeZkv hl g__ hq_\b^gh hkhagZeZ g_p_e_khh[jZaghklv lZdh]h ih\_^_gby \ ^Zgghc kblmZpbb Hlkx^Z fh`gh k^_eZlv \u\h^ qlh [hevrbgkl\h iZlheh]bq_kdbo fhr_ggbdh\ \ qZklghklb Z\Zglxjbklu ² ebrv ^_fhgkljZlb\gu_ ebqghklb Z g_ bkl_jbq_kdb_ ikbohiZlu J_^dh klhedg_rvky m gbo k ]jm[h gZahceb\uf ih\_^_gb_f gZijhlb\ hgb h[uqgh kihdhcgu b ^_eh\blu >Z lZd hgh b ^he`gh [ulv m ij_mki_\Zxsbo fhr_ggbdh\ bgZq_ gbdlh g_ kqblZe [u bo ex^vfb aZkem`b\Zxsbfb ihegh]h ^h\_jby Gm`gh ^h[Z\blv qlhg_ lhevdh ih\_^_gb_ ghb ijhqb_ we_f_glu kljmdlmju ebqghklb \ i_j\mx hq_j_^v mf b]jZxl \ lZdbo kemqZyo \Z`gmx jhev KeZ[hklv bgl_ee_dlZ hlkmlkl\b_ ijb\uqdb fukeblv mom^rZxl iheh`_gb_ <k_ `_ ihdZ dhgljhev gZ^ bkl_jbq_kdhc ]hlh\ghklvxkhojZgy_lkyh[ke_^m_fu_dZdijZ\behg_mljZqb\Zxlmf_gbyijbkihkZ[eb\Zlvky Z hlkx^ZgZebqb_m gbokhpbZevguodhglZdlh\IjZ\^ZiZlheh]bq_kdb_fhr_ggbdb²wlhlbi ZkkhpbZevguc G_j_^dh hgb b^ml ih kdhevadhc ^hjh`d_ ebrv ihlhfm qlh kebrdhf ohjhrh hkhagZxl k\hb \hafh`ghklb b aZf_qZxl dZd e_]dh bf \\_klb \ aZ[em`^_gb_ ex^_c Ijb ijZ\bevghf h[s_kl\_gghf \ha^_ckl\bb jZamfghf gZijZ\e_gbb bo kbe [hevrbgkl\h iZlheh]bq_kdbo fhr_ggbdh\ fh]eb [u klZlv khpbZevgh iheghp_ggufb ]jZ`^ZgZfb Qlh `_ dZkZ_lky bkl_jbq_kdbo ikbohiZlh\ lh bo \ha\jZl d khpbZevghc ghjf_ fh`_l [ulv h[_ki_q_g ebrv qj_a\uqZcgh bgl_gkb\ghc ikbohl_jZib_c Ijb\_^m ijbf_j iZlheh]bq_kdh]h fhr_ggbdZ dhlhjuc[uehibkZg\ gZr_fdhee_dlb\ghfljm^_ O_evfml D ] jh`^ \kx `bagv aZgbfZeky fhr_ggbq_kl\hf Kbkl_fZlbq_kdb gbdh]^Z g_ ljm^beky mqbeky gZ Z\lhke_kZjy gh wdaZf_gZ g_ k^Ze < ] hg gZdhg_p ©hij_^_ebekyª dZd [jZqguc Zn_jbkl < hl\_l gZ ihf_s_ggh_ \ ]Za_l_ h[ty\e_gb_ hg ihemqbe ibk_f hl `_gsbg kha^Z\ k_[_ [hevrmx \hafh`ghklv \u[hjZ KgZqZeZ hg ibkZe k\hbf dhjj_kihg^_gldZf ibkvfZ aZl_f \klj_qZeky k gbfb `be m gbo kmldZfb hohlgh iha\heyy kh^_j`Zlvk_[yaZl_fbkq_aZeZ \f_kl_k gbfbkq_aZeb^_gv]bb \_sbH^gZ`^uhghklZ\Zekym h^ghc `_gsbgu ^h kZfh]h ^gy h[ty\e_ggh]h \klmie_gby \ [jZd b ebrv \ wlhl ^_gv mr_e [_kke_^ghG_j_^dhhggZg_dhlhjh_\j_fyhklZ\eye`_gsbgmk dhlhjhc[ueihfhe\e_gqlh[u \j_f_gghkh_^bgblvkyk ^jm]hcihkdhevdmdZdijZ\behih^^_j`b\Zehlghr_gbyk g_kdhevdbfb `_gsbgZfbh^gh\j_f_gghKemqZehkvqlhDmimkdZe©^_g_`gmxhkh[mªaZdhlhjhchohlbeky lZd dZd i_j_[jZku\Zeky gZ ^jm]mx ©hi_jZpbxª b ihijhklm g_ gZoh^be \j_f_gb \_jgmlvky d i_j\hc LZd ihemqbehkv qlh g_dhlhju_ _]h `_jl\u \h\k_ g_ ihkljZ^Zeb fZl_jbZevgh G_dhlhjuo `_gsbg hg \hh[s_ kh^_j`Ze kZf wlb hkh[u \kihfbgZxl h g_f k bkdj_gg_c kbfiZlb_c<hh[s_l_ijbyl_evgbpuDdhlhju_g_ij_abjZeb_]haZh[fZghlau\Zebkvh g_f iheh`bl_evgh o\Zebeb _]h \hkiblZgghklv qmldhklv Gbdh]^Z hg g_ aZ[u\Ze ih bo keh\Zf ijbkeZlv p\_lu dmiblv keZ^hklb D mf_e ijhba\_klb \u]h^gh_ \i_qZle_gb_ k\hbfb baukdZggufbfZg_jZfbkh\dmkhfh^_\Zekyd ^hfm©ih^jm]bªhgh[uqghih^t_a`ZegZlZdkb <h \j_fy \hcgu D g_dhlhjh_ \j_fy ijZdlbdh\Ze ©[_]kl\h \ [he_agvª < k\yab k g_kqZklguf kemqZ_f hg gZ ^ebl_evgh_ \j_fy ihl_jye j_qv b _s_ ^he]h_ \j_fy ihke_ wlh]h aZbdZeky < [hevgbp_ hg \j_f_gZfb h[ty\eye ]heh^h\dm b lh]^Z _]h ih _]h keh\Zf dhjfbeb q_j_a ahg^ AZbdZlvkyhgijh^he`Zeb \^Zevg_cr_fhkh[_gghaZf_lghlh]^Zdh]^ZihiZ^Ze\ g_ijbylgu_ kblmZpbb<h\j_fyh[ke_^h\Zgbym f_gy\ dZ[bg_l_hglh`_]h\hjbehlju\bklhaZibgZykvIjb h[ke_^h\Zgbb D [ue g_jZa]h\hjqb\ g_kdhevdh \ye IjZ\^Z hg k\h[h^gh b [_]eh hl\_qZe gZ \hijhku gh ih kh[kl\_gghc bgbpbZlb\_ gbq_]h g_ jZkkdZau\Ze FbfbdZ b `_klu _]h [ueb \_kvfZ kdmiu Ebrv dh]^Z y \lhjbqgh aZ\_e jZa]h\hj h _]h ijZ\hgZjmr_gbyo h [_ahl\_lkl\_gghklb _]h ihklmidh\ D gZqZe ijhy\eylv q_jlu ^_fhgkljZlb\gh_ IeZqmsbf ]hehkhfhgklZeijhkblvijhs_gbyaZ\_jylvqlh g_ fh] gZclb ih^oh^ys_c jZ[hlu qlh ihke_ lxj_fgh]haZdexq_gbygbdlhg_r_e_fmgZ\klj_qmB ]hehk_]ha\mqZeiZl_lbq_kdbdh]^Zhg gZdhg_p ijhbag_k ©IhiZ^b lhevdh \ qm`^uc l_[_ djm] b l_[y \ulhedgml [_a `Zehklb G_ gZf_j_g kgbfZlv k k_[y \bgm gh wlh lZdª GZ ijhly`_gbb [_k_^u D g_kdhevdh jZa gZqbgZe aZbdZlvky Fu lZd`_ hlf_lbeb \ g_f kdehgghklv gZijy`_ggh jZa^mfu\Zlv gZ^ gZrbfb \hijhkZfb bah[jZ`Zlv g_\_^_gb_ b g_^hmf_gb_ lh]^Z dh]^Z hg g_khfg_ggh agZe h q_f b^_l j_qv D ijb h[ke_^h\Zgbb hdZaZeky f_g__ gZahceb\uf q_f \ur_hibkZgguc P GZf ijbrehkv klu^blv_]hb aZkuiZlvmij_dZfbij_`^_q_f\ _]hj_qbaZa\mqZebiZl_lbq_kdb_ghldbG_agZy ij_^uklhjbb D fh`gh [ueh [u ebrv k ljm^hf mklZgh\blv qlh hg \hh[s_ ijbgZ^e_`bl d bkl_jbdZfIhwlhfmg_kfhljygZ_]hgZdZam_fu_^_ygbyy hij_^_ebe_]hdZd^_fhgkljZlb\gmx ebqghklv Z g_ dZd bkl_jbq_kdh]h ikbohiZlZ Kihkh[ghklv \ul_kg_gby ijhy\beZkv m g_]h \ ©[_]kl\_ \ [he_agvª < h[fZgZo b \ fhr_ggbq_kdbo k^_edZo ^_fhgkljZlb\guc lbi fh`gh [_ahrb[hqgh mklZgh\blv ih _]h m\_j_gghc fZg_j_ D ba[jZe k_[_ ZfiemZ q_klgh]h q_eh\_dZ dhlhjuc [hevr_ i_q_lky h [eZ]_ hdjm`Zxsbo q_f h k\h_f kh[kl\_gghf Wlh kihkh[kl\h\Zeh lhfm qlh hg kgbkdZe ^h\_jb_ k\hbo iZjlg_jh\ <ur_ y mihfbgZe qlh bkl_jbq_kdb_ q_jlu ebqghklb kihkh[kl\mxl jZa\blbx Zjlbklbq_kdh]h ^Zjh\Zgby < i_j\mx hq_j_^v wlh k\yaZgh dhg_qgh kh kp_gbq_kdbf bkdmkkl\hf k ijhn_kkb_c Zdl_jZ >Z wlh b ihgylgh iZlheh]bq_kdb_ fhr_ggbdb ² ijbjh`^_ggu_ Zdl_ju ijZ\^Z b]jZxl hgb g_ ^ey lh]h qlh[u ^Z\Zlv ex^yf jZ^hklvZ ^eylh]hqlh[uboh[fZgu\ZlvYkghqlhq_eh\_db]jZxsbcjhev\ `bagbgZklhevdh ohjhrh qlh hdjm`Zxsb_ _fm [_ah]h\hjhqgh \_jyl b ^h\_jyxl ohjhrh ku]jZ_l ihjmq_ggmx jhev b gZ kp_g_ IjZ\^Z g_j_^dh [u\Z_l qlh g_kfhljy gZ ijbjh^guc ^Zj Zdl_jbkl_jbd g_ kijZ\ey_lkyk jhevxlZddZdkp_gbq_kdh_bkdmkkl\hlj_[m_lh]jhfgh]hljm^Z_kebZdl_johq_l ^h[blvky ih^ebggh]h mki_oZ Ihwlhfm gZb[he__ m^Zqguc j_amevlZl ihemqZ_lky \ l_o kemqZyo dh]^Z q_jlu ^_fhgkljZlb\ghc ebqghklb Zdl_jZ khq_lZxlky k ^jm]bfb Zdp_glmbjh\Zggufb q_jlZfb bf ijhlb\h^_ckl\mxsbfb GZijbf_j g_h[^mfZgghklb b g_ihklhygkl\m bkl_jbdZ ijhlb\hklhyl q_jlu iZjZghbq_kdhc ebqghklb [eZ]h^Zjy dhlhjuf ih\urZ_lky mihjkl\h b gZklhcqb\hklv mklj_fe_gbc AZc]_ \ gZr_f dhee_dlb\ghf ljm^_ hibkZe g_kdhevdbo Zdl_jh\ m dhlhjuoijhy\eyebkv^_fhgkljZlb\gu_q_jluoZjZdl_jZGZh^ghfbagboy hklZgh\exkv[he__ ih^jh[gh WjgklK]jh`^m`_k xghklb\uklmiZ_l\ l_Zlj_Hq_gvkihkh[gucm[_^bl_evgh kha^Z_l gZ kp_g_ h[jZau jZaebqguo i_jkhgZ`_c B]jZ_l g_ klhevdh wfhpbhgZevgh kdhevdh ijhn_kkbhgZevgh [_j_l l_ogbdhc b]ju b hiulhf Ih gZlmj_ [h^j \_k_e gh yjdbfb ijhy\e_gbyfb l_fi_jZf_glZ g_ hlebqZ_lky K fheh^uo e_l h^_j`bf kljZklvx d gZjdhlbdZf LhevdhZjlbklbq_kdbclZeZglm^_j`Ze_]hhlhdhgqZl_evgh]hiZ^_gby< fheh^hklbmihlj_[eye fhjnbc ijbgbfZe fgh]h kghl\hjguo kj_^kl\ b [_a dhgpZ dmjbe < ] baaZ aehmihlj_[e_gby Zedh]he_f i_j_g_k [_emx ]hjyqdm < ihke_\h_ggu_ ]h^u ibe ijbgbfZe [Zj[blmjZlu < ] \ke_^kl\b_ g_mf_j_ggh]h h[jZaZ `bagb b aehmihlj_[e_gby Zedh]he_f ihiZe\ [hevgbpmIhiuldbijh\_klbdmjke_q_gby\ha^_j`Zgb_fgb dq_fmg_ijb\_ebK^\Z jZaZihdb^Ze[hevgbpmb \ha\jZsZekylm^Z\ khklhygbbly`_eh]hhivyg_gby< ]hgkgh\Z baty\be ]hlh\ghklv e_qblvky \ha^_j`Zgb_f lZd dZd ©\ l_Zlj_ gZ g_]h klZeb dhkh kfhlj_lvª @_gZ K jZkkdZaZeZ qlh m^_j`Zlv _]h hl mihlj_[e_gby kibjlguo gZibldh\ g_\hafh`gh < khklhygbb hivyg_gby hg iur_l aeh[hc ba[b\Z_l `_gm [m^mqb lj_a\ ]h\hjbl k g_x jZkkm^bl_evgh gh [_kqm\kl\_ggh @_gZ g_ jZa ijboh^beZ \ m`Zk hl _]h ^jh`Zsbo jmd K aZy\eyeqlhZedh]hevlmlg_ijbq_fb dZd^hdZaZl_evkl\hijb\h^belhlnZdlqlhb \lj_a\hf khklhygbb ^jh`v g_ ijhoh^bl < hl^_e_gbb hg kjZam \klmibe \ dhglZdl k [hevgufb rmlbe jZkkdZau\Ze Zg_d^hlu ba l_ZljZevghc `bagb [ue ijb\_leb\ kh \k_fb hq_gv h[sbl_e_g ;hevgu_ `Zeh\Zebkv kebrdhf fgh]h pbgbqguo Zg_d^hlh\ g_ijbylgh kemrZlv K [ue g_mf_j_ggh o\Zkleb\ jZko\Zeb\Ze k\hc lZeZgl hljbpZe qlh y\eyeky gZ ki_dlZdeb \ ivyghf \b^_ b \hh[s_ hljbpZe qlh kljZ^Z_l aZihyfb <kdhj_ [ueh mklZgh\e_gh qlh \ [hevgbp_ hg ijbgbfZ_l kghl\hjgu_ kj_^kl\Z < fhq_ _]h [ueb h[gZjm`_gu ke_^u Zedh]hey <h \j_fy hq_j_^gh]h dhgljhey hg ih^f_gbe k\hx fhqm fhqhc ^jm]h]h [hevgh]h ;hevgbqguc dhgljhev \k_ mkbeb\Zeb b K \k_ [hevr_ \iZ^Ze \ jZa^jZ`_gb_ Hg lj_[h\Ze \uibkdb ba [hevgbpu kihdhcghaZy\eyyqlh\ [hevgbp_g_ibeb kghl\hjguokj_^kl\g_ijbgbfZeohly[ueihcfZgk ihebqguf Q_j_a q_luj_ g_^_eb hg mr_e ba debgbdb kZfh\hevgh < ] K ihiZ^Z_l \ l_jZi_\lbq_kdmx[hevgbpmihih\h^mgZjmr_gbydjh\hh[jZs_gby<jZqikbobZljh[tykgy_l_]h ]heh\hdjm`_gby aehmihlj_[e_gb_f Zedh]he_f < ] fu \klj_qZ_fky k gbf \gh\v m`_ \ ikbobZljbq_kdhc [hevgbp_ A^_kv K bkdZ`Z_l nZdlu bklhjbb k\h_c [he_agb mdehgqb\h hl\_qZ_l gZ g_ijbylgu_ \hijhku \ lhf qlh hg aehmihlj_[ey_l Zedh]he_f h[\bgy_l `_gm dhlhjZy ih _]h keh\Zf ]hjvdZy ivygbpZ KZf `_ hg gb \ q_f g_ ijbagZ_l k\h_c \bgu Q_j_a g_kdhevdh ^g_c K aZy\be qlh \hh[s_ d Zedh]hebafm g_ bf__l gbdZdh]h hlghr_gby b qlh hg kh\_jr_ggh a^hjh\ Z ihiZe kx^Z ih hrb[d_ G_kdhevdh jZa K moh^be ba [hevgbpu b \ha\jZsZeky\ g_kivygufHg[uei_j_\_^_g \ kljh]hbahebjh\Zggh_ hl^_e_gb_ ghb hlkx^Z _fmm^Zehkv^\ZjZaZmclb< dhg_qghfblh]_dmjke_q_gby\k_`_m^Zehkv^h\_klb^hdhgpZ< ]Kkgh\Z\ gZr_cdebgbd_baaZZedh]hevguowdkp_kkh\hgg_fh`_ljZ[hlZlv\ l_Zlj_ KZfhg\gh\vg_qm\kl\m_laZkh[hc\bgugZc ^_gvij_[u\Zgby\ debgbd_aZy\ey_lqlha^_kv ©fhjZevghih]b[Z_lªK\uibku\Z_lkylZdb g_ijbagZ\k_[yZedh]hebdhfIhkemoZfhg_s_ g_dhlhjh_\j_fy\uklmiZe\ l_Zlj_gh\k_jv_ajZkkqblu\ZlvgZg_]hl_ZljZevgucdhee_dlb\g_ fh] ihkdhevdm g_ \k_]^Z fh`gh [ueh ij_^m]Z^Zlv _]h ih\_^_gb_ Fgh]h_ ^bj_dpby _fm ijhsZeZlZddZdb]jZehgij_\hkoh^ghH^gZdh\ dhgp_dhgph\iheh`_gb_klZehg_kl_jibfuf K[ueihklhygghivygZ \uoh^ygZkp_gmaZ[u\Zeb keh\Zjhebb fbaZgkp_gu?s_g_kdhevdh jZa_]h[_amki_rghih^\_j]Zebe_q_gbx\ha^_j`Zgb_fgha^hjh\v__]h[uehm`_hdhgqZl_evgh jZajmr_gh b \ ] \ \hajZkl_ e_l hg mf_j \ khklhygbb ihegh]h nmgdpbhgZevgh]h bklhs_gby <hafms_ggu_ \hajZ`_gby K b _]h mihjgh_ hljbpZgb_ k\hbo kbkl_fZlbq_kdbo aZih_\ i_j_oh^yl]jZgbpugZ[ex^Z_fu_h[uqghm ojhgbq_kdboZedh]hebdh\G_kfhljygZly`_e_crb_ wdkp_kku hg \k_ `_ kqblZe qlh iv_l mf_j_ggh beb ^Z`_ qlh \hh[s_ g_ iv_l b ijbklmiZe d e_q_gbx ebrv lh]^Z dh]^Z wlh]h dZl_]hjbq_kdb lj_[h\Zeh gZqZevkl\h beb dh]^Z hg m`_ [md\Zevgh g_ klhye gZ gh]Zo <h \j_fy e_q_gby [hevghc ihklhyggh `mevgbqZe ijbghkbe \ iZeZlm kibjlgu_ gZibldb b lZ[e_ldb kghl\hjgh]h ih^f_gye fhqm ^ey ZgZebah\ Z \ hl\_l gZ kijZ\_^eb\u_ mij_db e]Ze Fh`gh kdZaZlv qlh g_ lhevdh gZ kp_g_ gh b \ `bagb hg [ue \u^ZxsbfkyZdl_jhfDh]^ZKk hldjuluf\a]ey^hfb ijb\_leb\hcmeu[dhcie_ek\hce`b\uc \a^hj lh bkdmr_gb_ ih\_jblv _fm [ueh hq_gv \_ebdh Km^y ih fZg_j_ ih\_^_gby hg ^_ckl\bl_evghg_hkhagZ\Zek\h_]hiZ^_gbymkm]m[ey_fh]hh[fZghfB _kebKg_kfhljygZ\kx g_mklhcqb\hklv \ hkgh\_ dhlhjhc e_`ZeZ bkl_jbq_kdZy kihkh[ghklv \ul_kg_gby fh] ^_kylbe_lbyfb mki_rgh \uklmiZlv gZ kp_g_ lh wlh fh`gh h[tykgblv lhevdh \k_ lhc `_ kihkh[ghklvx ih^^_j`b\Zxs_c b _]h ijhn_kkbhgZevgmx nhjfm G_ f_g__ wnn_dlb\gh ijbgZ^e_`ghklv d bkl_jbq_kdhfm lbim kdZau\Z_lky b gZ ij_^klZ\bl_eyo ^jm]bo h[eZkl_c bkdmkkl\Z <hi_j\uo ^ey ex[h]h om^h`gbdZ hq_gv \Z`gZ kihkh[ghklv hl^Zlvky l\hjq_kdhfm ihju\m[_ahklZldZl_mf_gb_iheghklvxi_j_\hiehsZlvky\ k\h_]h]_jhy`blv_]h`bagvx <h\lhjuo ^_fhgkljZlb\gZy ebqghklv h[eZ^Z_l ih\ur_gghc nZglZab_c q_fm kihkh[kl\m_l ki_pbnbq_kdZyjZkdh\ZgghklvfukebijbkmsZybkl_jbdmIkboheh]bq_kdbZdlb\gh_ih\_^_gb_ \ujZ[Zlu\Z_l kljh]h eh]bq_kdh_ b ijb wlhf hl\e_q_ggh_ fure_gb_ jZkdh\Zgghklv e_]dhklv ih\_^_gbygZijhlb\\_^_ld k\h[h^_d \hagbdgh\_gbxdhgdj_lguodZjlbgh[jZah\badhlhjuo kha^Z_lky \hh[jZ`Z_fuc fbj K\h[h^gZy b]jZ ij_^klZ\e_gbc ©kgu gZy\mª oZjZdl_jgu ^ey ex^_c k jZkdh\Zgghc ikbobdhc < lZdbo ©kgZoª kqZkleb\u_ jZ^hklgu_ ij_^klZ\e_gby ij_h[eZ^ZxlgZ^i_qZevgufbb g_ijbylgufb ©Hgkljhbl\ha^mrgu_aZfdbª²lZd]h\hjylh f_qlZl_eyo < wlhf hij_^_e_gbb hljZ`_g b dhgdj_lguc oZjZdl_j f_qlu b __ fZ`hjgZy lhgZevghklv>_fhgkljZlb\gu_b bkl_jbq_kdb_ebqghklbkdehggu\ul_kgylvg_ijbylgu_fukeb dhlhju_fh]eb[uih[m^blvbod Zdlb\gufjZa^mfvyflZddZdhgbg_`_eZxlgbq_fhly]hsZlv k_[y K\h[h^gZy b]jZ k\_leuo ijbylguo ij_^klZ\e_gbc ^Z_lky bf_ggh lZdhc jZkdh\Zgghklvx fukebBkl_jbdh[eZ^Z_l[h]Zl_cr_cnZglZab_cdhlhjZyklZgh\blkyh^gbfba^hfbgbjmxsbo dhfihg_glh\ \ kljmdlmj_ ^_fhgkljZlb\ghc ebqghklb NZglZaby ijhy\ey_lky ^Z`_ ijb kZfhf ijbfblb\ghf gZ^m\Zl_evkl\_ < lZdbo kemqZyo bkl_jbd ^_ckl\m_l g_ ih aZjZg__ gZf_q_gghc ko_f_ Z hibjZ_lky gZ dhgdj_lgu_ keh\Z b kblmZpbb \hagbdZxsb_ \ oh^_ fhr_ggbq_kdhc hi_jZpbb Q_ldb_ dhglmju wlZ hi_jZpby ijbh[j_lZ_l ebrv \ fhf_gl ©bkiheg_gbyª Bf_ggh dhgdj_lghklvfZl_jbZevghklvnZdlh\dhlhjufbh[fZgsbdhi_jbjm_lijb^Zxlm[_^bl_evghklv ^_ckl\byf bkl_jbq_kdbo Zn_jbklh\ Lhqgh lZd `_ b m ibkZl_ey h[eZ^Zxs_]h q_jlZfb ^_fhgkljZlb\gh]h lbiZ nZglZaby jZ[hlZ_l k hkh[hc `b\hklvx dhgdj_lgu_ h[jZau ihjh`^Z_fu_ jZkdh\Zgghklvx fukeb b g_h[oh^bfu_ _fm \ ijhp_kk_ l\hjq_kl\Z fh]ml gZoeugmlvihlhdhfOm^h`gbdZfb dhfihablhjZfnZglZabyijbghkblgh\u_b^_b[_adhlhjuob hgbg_fh]mlieh^hl\hjghl\hjblvFh`ghijb\_klbyjdbcijbf_jkhq_lZgby[h]ZlhcnZglZabb b bkl_jbq_kdhc kljmdlmju ebqghklb ;ulv fh`_l fgh]b_ g_ ijbagZxl DZjeZ F_y gZklhysbf ibkZl_e_f gh g_evay hljbpZlv qlh wlhl Z\lhj h[eZ^Ze h]jhfghc nZglZab_c >h gZqZeZ ibkZl_evkdhc ^_yl_evghklb DZje F_c [he__ k_fb e_l hlkb^_e \ lxjvf_ hl[u\Zy gZdZaZgby aZ djZ`b]jZ[_`bkh\aehfhfb jZaebqgu_`mevgbq_kdb_fZobgZpbb< e_lhg\ ihke_^gbcjZa [ue\ lxj_fghfaZdexq_gbb<k_qlhfh`ghkdZaZlvhljbpZl_evgh]hh DZje_F__baeh`_gh\ g_djheh]_ :evnj_^Z Deycg[_j]Z gZi_qZlZgghf \ `mjgZe_ ©.XQVWZDUWª >jmavy DZjeZ F_y kqblZxlwlhlg_djheh]aehklgufiZkd\be_fohlyb hgbg_fh]mlhljbpZlvh[t_dlb\guonZdlh\ =mjebll iulZ_lky h[tykgblv b kfy]qblv hljbpZl_evgu_ fhf_glu g_djheh]Z gh ^hklh\_jghklv nZdlh\\ugm`^_gijbagZlvb hgF_cklZ\m`_ibkZl_e_fijh^he`Zek\hbZ\Zglxjbklbq_kdb_ \uoh^dbijZ\^Zl_i_jv\ gbog_[uehm]heh\gh]hwe_f_glZGZijbf_jd k\h_fmebl_jZlmjghfm ik_\^hgbfmhgijbkh_^bgye]jhfdha\mqZsb_bf_gZk ^\hjygkdbfblblmeZfbWlbik_\^hgbfu hg m\_gqZe a\Zgb_f ^hdlhjZ gZmd dhlhjh_ \ihke_^kl\bb ^Z`_ lZd kdZaZlv fZl_jbZebah\Ze ijbh[j_lyaZ^_gv]b^biehf^hdlhjZ\ h^ghfbaZf_jbdZgkdbomgb\_jkbl_lh\Hg\u^Z\Zek_[y aZ 2OG&KDWWHUKDQG KlZjh]h;helmgZl_b^_glbnbpbjh\Zek_[yk h^gbfbai_jkhgZ`_ck\hbo jhfZgh\H <bgg_lmhg]h\hjbedZdh k\h_fj_Zevghkms_kl\mxs_f^jm]_<k_hibkZggu_\ _]h dgb]Zo iml_r_kl\by F_c d\Zebnbpbjh\Ze dZd bklbggu_ kh[ulby f_`^m l_f [hevrbgkl\h ba gbo ihemqbeb ebl_jZlmjgh_ \hiehs_gb_ _s_ ^h _]h i_j\uo ih_a^hd aZ ]jZgbpm < h^ghf ba ibk_fhgmihfbgZ_lh i_jkhgZ`Zok\hboijhba\_^_gbc©Oh[[ev_s_`b\OZmd_gkNZcjo_g^b OZ\_jnbe^m`_mf_jebªGZ_]h\bablguodZjlhqdZo[uehgZi_qZlZgh©DZjeF_cihijha\bsm 2OG &KDWWHUKDQGª < ibkvfZ hg \deZ^u\Ze k\hb nhlh]jZnbb ]^_ [ue kgyl gZ nhg_ jZaguo wdahlbq_kdboi_caZ`_c=mjebllg_hkiZjb\Z_lwlbonZdlh\ghibr_l©<hijhkh lhfkh\_jrZe ebhg\ ^_ckl\bl_evghklbl_bebbgu_iml_r_kl\by]^_hgijbh[j_ek\hcagZf_gblucdZjZ[bg ² \ :f_jbd_ beb m klZjv_\sbdZ \ >j_a^_g_ dZdbf iml_f hg ihiZe gZ nhlh]jZnbx \ kZfmx ]msm bg^_cp_\ ² \k_ wlh g_ aZljZ]b\Z_l _]h ihjy^hqghklb Ly]Z d kZfhml\_j`^_gbx ² \hl qlh aZklZ\beh _]h dmiblv ^hdlhjkdh_ a\Zgb_ b m\beb\Zlv dh]^Z ihlj_[h\Zebkv h[tykg_gbyª Hkh[_ggh_ \hafms_gb_ m ijhlb\gbdh\ F_y \uau\Z_l h^gh\j_f_ggh_ him[ebdh\Zgb_ bf [eZ]hq_klb\uo jZkkdZah\ ©JZkkdZau h [h]hfZl_jbª b [mev\Zjguo jhfZgh\ k g_ijbklhcguf kh^_j`Zgb_f?fmij_^ty\bebh[\bg_gb_ \ lhf qlhhgibr_l [_agjZ\kl\_ggu_ ijhba\_^_gby F_c h[ty\be gZ km^_ \h \k_mkeurZgb_ qlh g_ijbebqgu_ f_klZ gZibkZgu g_ bf Z \klZ\e_gu iha^g__ ba^Zl_e_f Gh fh`gh eb \_jblv lZdhfm hijZ\^Zgbx" <_^v dgb]b lZdh]h kh^_j`Zgby F_c ibkZe gZ ijhly`_gbb ihqlb iylb e_l Z f_`^m l_f m\_j_ggh aZy\eye qlh wlbo ©\klZ\hd gbdh]^Z g_ aZf_qZeª D lhfm `_ \ [eZ]hq_klb\uo jZkkdZaZo aZf_lgh hlkmlkl\b_ bkdj_gghklb gZijhlb\ \ gbo qm\kl\m_lky ihaZ hgb hl^Zxl oZg`_gkl\hf Wlh h^gZdh aZf_qZxl g_ \k_ Fgh]boex^_cDZjeF_ckmf_eihdhjblvk\hbfeh`guf[eZ]hq_klb_fLZdRlhevl_dhlhjuc dZdb =mjebllih^^_j`b\ZewlmZjlbklbq_kdmxebqghklvh[Zhgbba^Z\Zeb_]hdgb]bibr_lh ©=_h]jZnbq_kdbo ijhih\_^yoª F_y ©Hgb y\eyxlky ihiuldhc ho\Zlblv \kx dhkfbq_kdmx b dmevlmjgmx`bagv\ _^bghffhebl\_gghfihju\_^ey\hko\Ze_gby\ukr_c[h`_kl\_gghc\hebª <hl g_kdhevdh aZ]eZ\bc ba ©Ijhih\_^_cª ©Fhebkv b ljm^bkvª ©Dlh q_klgh `b\_l lhl ^he]h ijh`b\_lª b l ^ G_kfhljy gZ ebp_f_jb_ aZf_lgh_ \ ©Ijhih\_^yoª DZje F_c bf_e mki_o fgh]b_ ]h^u hg ihevah\Zeky h]jhfguf m\Z`_gb_f \ djm]Zo dZlhebq_kdh]h ^moh\_gkl\Z <_jrbghc gZ]eh]h h[fZgZ F_y fh`gh kqblZlv pblbjm_fh_ ;_fhf ibkvfh < g_f ihke_ khh[s_gby h kf_jlb gZ f ]h^m `bagb _]h ^jm]Z <bgg_lm kdZaZgh ©Y ]h\hjx b ibrm ih njZgpmakdb Zg]ebckdb blZevygkdb bkiZgkdb ]j_q_kdb eZlbgkdb _\j_ckdb jmfugkdb ih ZjZ[kdb ² gZ ^bZe_dlZo ihi_jkb^kdb ihdmj^kdb ² gZ ^bZe_dlZo ihdblZckdb ² gZ ^bZe_dlZoihfZeZckdbgZyaud_gZgZdmZgZg_kdhevdbogZj_qbyokbmZiZq_cdhfZgq_ckmZdb mlZ dbh\Z Z lZd`_ d_qmfZgb aZl_f gZ lj_o x`ghZf_jbdZgkdbo ^bZe_dlZo H eZieZg^kdhf mihfbgZlvg_ klZgm Kdhevdh jZ[hqbo ghq_c fg_ wlh klhbeh" Y b k_cqZk g_ kiex ih ghqb \ g_^_exk qZkh\\_q_jZ\ ihg_^_evgbd^h\h\lhjgbdlhqghlZd`_khkj_^ugZq_l\_j]b k iylgbpugZkm[[hlmDhfm[h]^Zeh^bgnmgljZamfZlhl^he`_gijbmfgh`Zlv_]hb[h©k g_]h kijhkblkyª A^_kv k iheghc m\_j_gghklvx fh`gh ]h\hjblv h SVHXGRORJLD SKDQWDVWLFD \ ikbobZljbq_kdhf kfuke_ keh\Z ;_f hibku\Z_l lZd`_ ke_^mxsbc wibah^ ©=jZnbgy B ba DZ[mgu \ KeZ\hgbb qblZ\rZy jhfZgu F_y aZih_f g_ fh]eZ i_j_g_klb fukeb qlh <bgg_lm mf_jyauqgbdhfb h[jZlbeZkvd Z\lhjmk mdhjbag_gguf\hijhkhfihq_fmhgg_hibkZeh[jy^Z dj_s_gbykh\_jr_ggh]hohly[ui_j_^kf_jlvx<bgg_lmF_ckh\_jr_gghk_jv_aghgZibkZe\ hl\_l qlh mij_d __ g_kijZ\_^eb\ h[jy^ dj_s_gby [ue kh\_jr_g kZfbf `_ F__f l _ 2OG &KDWWHUKDQG gh \ jhfZg_ h[ wlhf mfZeqb\Z_lky b[h F_c hiZkZeky qlh ihke_^mxl gZiZ^db bgh\_jp_\ª F_c iZjbjh\Ze mij_d qblZl_evgbpu aZ\_^hfuf h[fZghf qlh[u \uklZ\blv k_[y \ [eZ]hijbylghfk\_l_Hg\hh[s_hohlghi_j_ibku\Zekyk qblZl_eyfbghdjhf_lh]hkha^Z\Ze k_[_j_deZfmim[ebdmyqblZl_evkdb_ibkvfZdhlhju_kZf`_khqbgyeIbkvfZwlbba^Z\Zebkv\ \b^_ [jhrxj ih^ gZa\Zgb_f ©Hl [eZ]h^Zjguo qblZl_e_cª DZje F_c \ gbo ij_^klZ\Ze \hkiblZl_e_f iZkluj_f Z _]h ijhlb\gbdb gbkijh\_j]Zebkv Ba \k_]h kdZaZggh]h \b^gh qlh F_c ihevamykv ihwlbq_kdhc k\h[h^hc khqbgye b e]Ze [_aaZkl_gqb\h g_ [j_a]my gbdZdbfb kj_^kl\Zfb imkdZe iuev \ ]eZaZ Z ^_r_\u_ \u^mfdb \u^Z\Ze aZ bklbgm LZdbf h[jZahf l\hjq_kdZy ^_yl_evghklv g_ iheh`beZ dhg_p Z\Zglxjbafm F_y gZijhlb\ hg ijh^he`Ze k\hb ijh^_edbghl_i_jvm`_\ gh\hfb hjb]bgZevghfibkZl_evkdhf`Zgj_Dhg_qgh_]hZ\Zglxjbaf b \ khpbZevghf ieZg_ ijbh[j_e g_kdhevdh bgh_ a\mqZgb_ dhgnebdlu k aZdhghf aZdhgqbebkv fheh^_`v [j_^beZ _]h jhfZgZfb DZje F_c fh`_l [ulv hlg_k_g d iZlheh]bq_kdbf e]mgZf dhlhju_ hq_gv k`b\Zxlky kh k\h_c jhevx b kZfb g_ hkhagZxl qlh ^mjZqZl ex^_c ;eZ]h^Zjy wlhfm _]h b]jZ ijbh[j_lZeZ ij_^_evgh m[_^bl_evguc oZjZdl_j hdjm`Zxsb_ \_jbeb _fm [_ah]h\hjhqgh<_jhylghhgihdhjbewlhcbkl_jbq_kdhc kljmgdhcb kZfh]h =mjebllZ <hlqlh qblZ_f\ h^ghfbaibk_fF_yd =mjebllm©=hkih^bgkh\_lgbdxklbpbbA_eehdhlhjuclhevdh qlhm f_gy[uejZkkdZaZefg_]em[hdhm\Z`Z_fuc]hkih^bgijhn_kkhjh \babl_\Zr_fd g_fm h lhf qlh \u gZr ieZf_gguc [hj_p aZ rdhevgmx j_nhjfm ij_^eh`beb _fm gZibkZlv b him[ebdh\Zlv klZlvx h [eZ]hl\hjghf \ebygbb fhbo jhfZgh\ gZ ih^jZklZxs__ ihdhe_gb_ Ljm^gh \ujZablv keh\Zfb dZd f_gy klZjbdZ h[jZ^h\Zeh wlh khh[s_gb_ Iha\hevl_ aZ\_jblv \Zk]hkih^bgijhn_kkhjqlhy ijbgZ^e_`md \Zrbfm[_`^_gg_crbfijb\_j`_gpZfohly\uh[ wlhf b g_ agZ_l_ª GZ^h iheZ]Zlv qlh wlb evklb\u_ keh\Z \kdjm`beb ]heh\m ijhn_kkhjm =mjebllm h^gZdh fh`gh mkhfgblvky \ lhf qblZe eb F_c ^h wlh]h kemqZy khqbg_gby ijhn_kkhjZ < ^jm]hf ibkvf_ =mjebllm gZibkZgghf agZqbl_evgh iha^g__ F_c ^_eblky k gbf k\hbfb ^Zevg_crbfb l\hjq_kdbfb ieZgZfb <ukhdhiZjguc klbev ibkvfZ k\b^_l_evkl\m _l h lhf qlh b a^_kv j_qv b^_l g_ klhevdh h k_jv_aguo ieZgZo kdhevdh h [Zo\Zevkl\_ ©H k\hbo aZfukeZo y ihdZ fheqZe lZd dZd _s_ g_ khaj_e ^ey gbo g_ kh\k_f ]hlh\u [ueb b ij_^\Zjbl_evgu_ gZ[jhkdb b jZajZ[hldb KhagZxkv \Zf f_gy jZkiyeb >_kylv e_l y \bk_e gZ dj_kl_ b bamqZe lheib\rmxky \hdjm] f_gy rmfgmx dhfiZgbx L_i_jv gZdhg_p y khaj_e Y aZdhgqbe ih^ ]hlh\dm Y khr_e k dj_klZ b gZqbgZx ibkZlv Lh qlh fg_ m`_ e_l g_ bf__l agZq_gby Y gZ^_xkv ijh`blv _s_ ^he]h : _keb b g_l lh y ]hlh\ m^h\e_l\hjblvky h^gbf _^bgkl\_gguf ijhba\_^_gb_f ebrv [u hgh khhl\_lkl\h\Zeh fhbf qZygbyf b `_eZgbyf ?keb wlh [m^_l lZd agZqbl y kdZaZe lh qlh ohl_e b kihdhcgh [m^m `^Zlv dhgpZ i_kgbª < wlhf ibkvf_ ohjhrh hl jZ`Z_lky kZfh\ex[e_gguc iZnhk bkl_jbdZ Y gbkdhevdh g_ khfg_\Zxkv \ lhf qlh jZa\blbx ibkZl_evkdh]h lZeZglZ DZjeZ F_y \ [hevrhc f_j_ kihkh[kl\h\ZeZ _]h ijbgZ^e_`ghklv d ^_fhgkljZlb\ghfm lbim ex^_c :dp_glmbjh\Zgghklv ebqghklb ijb\_eZ \ wlhf kemqZ_ d fbeebhgguf lbjZ`Zf _]h dgb] d i_j_\h^m jhfZgh\ F_y gZ fgh`_kl\h yaudh\ Km^y ih ajbfuf ihjlj_lZf hibkZgbyf b \hegmxsbf kblmZpbyf wlbo ijbdexq_gq_kdbo ijhba\_^_gbcfh`gh[_adhe_[ZgbckdZaZlvqlhF_cihbklbg_i_j_\hiehsZeky\ k\hbo]_jh_\ hkh[_gghdh]^Zhgb^_ckl\h\Zebk g_ij_\ahc^_gghckbehcb eh\dhklvx<_jhylghhg\`b\Zeky \ k\hbh[jZau\iehlv^hihegh]hkebygbyk gbfbZ ihwlhfm\jy^ebe]Zedh]^Zij_^klZ\eyeky gZfih^ebqbghckeZ\gh]h 2OG&KDWWHUKDQG Fh`ghkdZaZlvlZd`_qlh\ jhfZgZogZibkZgguohl i_j\h]hebpZl_hlebpZ 2OG&KDWWHUKDQG wlZnhjfZih\_kl\h\Zgbyi_j_klZ_lm`_[ulvlhevdh ebl_jZlmjguf ijb_fhf Hg ^_ckl\bl_evgh kZf klZgh\blky k\hbf ]_jh_f B \hl gZ wlhclh bkl_jbq_kdhcihq\_b \ujZklZeZ_]hihjZabl_evgZynZglZaby I_^Zglbq_kdb_ebqghklb GZmjh\g_y\ghciZlheh]bbebqghklbi_^Zglbq_kdhfmlbimkhhl\_lkl\m_lZgZgdZklbq_kdZy ikbohiZlby M ebp i_^Zglbq_kdh]h lbiZ \ ijhlb\hiheh`ghklv ^_fhgkljZlb\ghfm \ ikbobq_kdhc ^_yl_evghklb bkdexqbl_evgh fZeh ij_^klZ\e_gu f_oZgbafu \ul_kg_gby ?keb ihklmidb bkl_jbdh\ oZjZdl_jbamxlky hlkmlkl\b_f jZamfgh]h \a\_rb\Zgby lh ZgZgdZklu ©lygmlª k j_r_gb_f ^Z`_ lh]^Z dh]^Z klZ^by ij_^\Zjbl_evgh]h h[^mfu\Zgby hdhgqZl_evgh aZ\_jr_gZ Hgb ohlyl ij_`^_ q_f gZqZlv ^_ckl\h\Zlv _s_ b _s_ jZa m[_^blvky qlh emqr__ j_r_gb_gZclbg_\hafh`ghqlh[he__m^Zqguo\ZjbZglh\g_kms_kl\m_l:gZgdZklg_kihkh[_g \ul_kgylv khfg_gby Z wlh lhjfhabl _]h ^_ckl\by LZdbf h[jZahf g_h[^mfZgghklb bkl_jbdh\ ijhlb\hihklZ\ey_lky g_j_rbl_evghklv ZgZgdZklh\ JZamf__lky j_r_gby k dhlhjufb k\yaZgu dhe_[Zgby i_^Zglbqgh]h km[t_dlZ ^he`gu [ulv \ dZdhclh f_j_ \Z`gu ^ey g_]h hdZau\Zlv khijhlb\e_gb__kl_kl\_gghfm\ul_kg_gbxljm^ghebrvlh]^Zdh]^Zg_\_jgucihklmihd]jhabl eb[h\ua\Zlvg_ijbylghklbeb[h\hkij_iylkl\h\ZlvijbylghfmLhqlh^eyq_eh\_dZg_bf__l k_jv_agh]h agZq_gby khagZgb_ \ul_kgy_l [_a \kydh]h ljm^Z ^ey wlh]h g_ gm`gh ijbgbfZlv hkh[h]h j_r_gby ^Z`_ ZgZgdZklm Ijb jZa\blbb m ebp i_^Zglbq_kdh]h lbiZ g_\jhaZ \Z`ghklv j_r_gby g_ kgbfZ_lky k ih\_kldb ^gy gh \ wlhf kemqZ_ ij_^iheZ]Z_fZy m]jhaZ lhjfhaysZy ijbgylb_ j_r_gby fh`_l hdZaZlvky gbqlh`ghc ?keb fZlvZgZgdZkl ijyq_l \ dhfgZl_ ]^_ gZoh^blky feZ^_g_p \k_ dhexsb_ b j_`msb_ ij_^f_lu lh __ ^_ckl\by \ ba\_klghc f_j_ hijZ\^Zgu kljZohf qlh j_[_ghd fh`_l ihjZgblvky Gh _keb lZ `_ fZlv \hh[s_ [hblky ijbdhkgmlvky d feZ^_gpm ©qlh[u g_ ih\j_^blv _fmª lh hgZ kljZ^Z_l g_\jhahf gZ\yaqb\uo khklhygbc LZd gZijbf_j gZ\yaqb\h_ mfu\Zgb_ fh`_l k gZly`dhc [ulv hijZ\^Zgh l_f qlh ^Z`_ ihke_ lsZl_evgh]h fulvy gZ l_e_ \k_ `_ hklZxlky f_evqZcrb_ qZklbpu ]jyab qZklh g_\b^bfu_ [Zpbeeu < kemqZyo dh]^Z fbgbfZevgZy \hafh`ghklv hiZkghklb khijh\h`^Z_lky j_adbf[mjgufZnn_dlhffh`gh]h\hjblvh lhfqlhklZ^byikboheh]bq_kdhcghjfujZa\blby bkl_deZ l _ ijboh^bf d aZdhghf_jghklb hibkZgghc \ pbl khq k Wlh fh`gh h[jZagh ij_^klZ\blv dZd hkgh\ghc aZdhg jZa\blby q_eh\_q_kdbo qm\kl\ kh]eZkgh dhlhjhfm wfhpbb jZkdZqb\Z_fu_ f_`^m ^\mfy ihexkZfb \k_ ©gZ[bjZxl \ukhlmª b lZdbf h[jZahf ba g_agZqbl_evguo j_Zdpbc i_j_jZklZxl \ ]em[hdb_ Znn_dlu K wlhc aZdhghf_jghklvx fu klhedg_fky _s_ ijb ZgZeba_ jZa\blby iZjZghbq_kdbo khklhygbc Ijb g_\jhaZo gZ\yaqb\uo khklhygbckbevguckljZoaZklZ\eyxsbc\b^_lv\ imklydh\hfh[klhyl_evkl\_aeh\_smxm]jham \hagbdZ_l baaZ ^ebl_evghc g_m\_j_gghklb \ lhf hijZ\^Zg eb ^Zgguc kljZo FZlv \ gZr_f ijbf_j_ kgZqZeZ ohl_eZ ebrv m[_^blvky g_l eb hkljuo ij_^f_lh\ \[ebab __ j_[_gdZ Gh mkihdhblvky hdhgqZl_evgh g_ fh]eZ ih^haj_\Zy qlh mimklbeZ ba \b^m _s_ dZdhclh hiZkguc ij_^f_l b \gh\v ]gZeZ hl k_[y fjZqgu_ fukeb b \gh\v hgb \ha\jZsZebkv <ke_^kl\b_ lZdbo ihklhygguo jZat_^Zxsbo ^mrm khfg_gbc \hagbdZ_l [he_ag_gguc kljZo kg_^Zxsbc g_\jhlbdh\ k gZ\yaqb\ufb b^_yfb Ijb wlhf bo `_ kh[kl\_gguc jZamf kqblZ_l kljZob g_h[hkgh\Zggufbghij_h^he_lvbohgbg_\ kbeZoM`_\ i_jbh^_jZa\blbyZnn_dlZZgZgdZkl [hj_lkyk gZ\yaqb\ufbij_^klZ\e_gbyfbghihkdhevdm_]hkihkh[ghklvd \ul_kg_gbxaZ\_^hfh g_^hklZlhqgZ lh bf_ggh wlZ[hjv[Z mkbeb\Z_l gZ\yaqb\u_ ij_^klZ\e_gby \_^y d lhfm kZfhfm ©jZkdZqb\Zgbxª dhlhjh_ \a\bgqb\Z_l kljZo ^h ij_^_eZ Ihke_^mc `_gsbgZ \ gZr_f ijbf_j_ i_j\hfm bfimevkm mg_kb hgZ ba dhfgZlu k\hb b]hedb [meZ\db gh`gbpu ij_`^_ q_f \hclb lm^Z k feZ^_gp_f ij_djZlb hgZ jZafureylv \ ^Zgghf gZijZ\e_gbb ² b gZ\yaqb\Zy b^_y g_ jZa\beZkv [u @_gsbgZ aZ[ueZ [u h qj_af_jguo ij_^hklhjh`ghklyo _keb [u g_ ijh^he`ZeZ mihjgh h gbo ^mfZlv kljZo __ me_lmqbeky [u kZf kh[hc Gh _c g_ m^Z_lky ©ihklZ\blv lhqdmª \kieu\Zxlgh\u_hiZk_gbyb[hjykvk gbfbhgZg_\hevghkihkh[kl\m_lbojZa\blbxkha^Z_l ^ey gboiblZl_evgmx kj_^m Gh g_ lhevdh lZdb_dhe_[Zgby kdehgyxl ex^_c d iZlheh]bq_kdbf khfg_gbyf lheqdhf kihkh[kl\mxsbf ©jZkdZqb\Zgbxª qm\kl\ fh]ml [ulv b \g_rgb_ h[klhyl_evkl\Z Bihohg^jbq_kdbc g_\jha qZs_ \k_]h \hagbdZ_l \ k\yab k f_^bpbgkdbf h[ke_^h\Zgb_fdhgkmevlZpbyfbij_^ibkZgbyfb[hevghcgZqbgZ_ldhe_[Zlvkyf_`^mgZ^_`^hc b hiZk_gbyfb b \ dhg_qghf blh]_ ² ihy\ey_lky iZlheh]bq_kdbc kljZo i_j_^ ly`dbf aZ[he_\Zgb_f HkhagZgb_ g_h[hkgh\Zgghklb kljZoh\ m bihohg^jbdh\ _s_ f_g__ \_jhylgh q_f ijbgZ\yaqb\uokhfg_gbyoihkdhevdme_]q_m[_^blvky\ g_h[hkgh\Zgghklb[j_^Zkhfg_gbyq_f \ g_k_jv_aghklbnbabq_kdh]haZ[he_\ZgbyijbqbgZdhlhjh]hg_j_^dhg_ykgZb kZfhfm\jZqm< ^Zgghc fhgh]jZnbb j_qv b^_l g_ h ikbobq_kdhf jZa\blbb Fu ijb\_eb wlb \klmibl_evgu_ aZf_qZgbyebrvk p_evxh[e_]qblvihgbfZgb_lbiZZgZgdZklZlZddZdk\_^_gbyh ikbohiZlbyo jZa\b\Zxsboky m Zdp_glmbjh\Zgghc i_^Zglbq_kdhc ebqghklb h[e_]qZl qblZl_ex ijZ\bevgh_ km`^_gb_h g_cE_]q_[m^_ljZkdjulvb hljbpZl_evgu_klhjhguZdp_glmZpbb wlh]h lbiZ Ijb hlkmlkl\bbg_\jhaZi_^ZglbqghklvgZghkblms_j[ebqghklblhevdhlh]^Zdh]^ZhgZijbh[j_lZ_l [he_ag_ggucoZjZdl_jKihkh[ghklvijbgylvj_r_gb_\ wlbokemqZyogZklhevdhj_adhgZjmr_gZ qlh q_eh\_d g_ \ khklhygbb ghjfZevgh jZ[hlZlv H[mj_\Z_fuc khfg_gbyfb hg \gh\v b \gh\v ijh\_jy_lm^h\e_l\hjbl_e_gebj_amevlZl_]hljm^Zfh`ghebkqblZlvjZ[hlmaZdhgq_gghcHg gZqbgZ_l hlklZ\Zlv hl ^jm]bo hl dhee_dlb\Z Wlh \ ba\_klghc f_j_ gh ^Ze_dh g_ iheghklvx dhfi_gkbjm_lky klZjZl_evguf b ^h[jhkh\_klguf \uiheg_gb_f ihjmq_ggh]h ^_eZ :gZgdZkl qZklh ^h[jh\hevgh jZ[hlZ_l k\_jomjhqgh qlh[u gZ \_jklZlv ihl_jyggh_ \j_fy G_fZeuc \j_^ ijbghkbli_^Zglbqghklvb \ebqghc`bagbGZijbf_jjZ[hqbc^_gvaZdhgqbekyghZgZgdZkl\k_ gbdZd g_ fh`_l ©jZkklZlvkyª k jZ[hqbf f_klhf moh^y g_h^ghdjZlgh \ha\jZsZ_lky qlh[u ijh\_jblvaZi_jluebysbdbaZdjulueb\k_^\_jb\k_ebhklZ\e_gh\ iheghfihjy^d_?keb hgk^_j`b\Z_lk_[yhldZau\Z_lkyhlfgh]hdjZlguokZfhijh\_jhdlhih^hjh]_^hfhc\k_jZ\gh _]hba\h^ylfukebh ijhr_^r_fjZ[hq_f^g_lj_\h`ZljZagu_f_ehqbHkh[_gghmkbeb\Zxlky _]h khfg_gby dh]^Z ihjmq_ggZy jZ[hlZ hl\_lkl\_ggZ ;_kihdhckl\h g_ ihdb^Z_l ZgZgdZklZ b ^hfZ \j_fy aZkuiZgby y\eyxs__ky ^ey ^jm]h]h i_jbh^hf ©\udexq_gbyª klZgh\blky ^ey i_^Zglbq_kdhc ebqghklb ly`_euf bkiulZgb_f :gZgdZkl _s_ jZa ih^\_j]Z_l kdjmime_aghfm ZgZebam \k_ qlh [ueh k^_eZgh k_]h^gy ih]jm`Z_lky \ fukeb h ieZgZo gZ aZ\ljZb g_ gZoh^bl ebrv h^gh]h ² ihdhy ;ulh\u_ h[yaZgghklb lZd`_ g_ fh]ml \uihegylvky kihdhcgh b ]eZ^dh @_gsbgu [hevr_ fm`qbg ih^\_j`_gu qj_af_jghc gZ\yaqb\hc ZddmjZlghklb M[hjdZ \ dhfgZl_ ijhba\h^blky ^hlhrgh b hkgh\Zl_evgh ^Z b dm^Z qZs_ q_f gm`gh Hkh[Zy qbklhlZ ^he`gZpZjblvgZdmog_Ijb]hlh\e_gb_ibsbhlgbfZ_lm ZgZgdZklh\fgh]h\j_f_gbb[hfulv_ ijh^mdlh\bohqbkldZi_j_[bjZgb_h\hs_cdjmiu\uihegyxlkyk ij_^_evghclsZl_evghklvx Ihkm^m ZgZgdZklu fhxl ih ljbq_luj_ jZaZ f_gyy \kydbc jZa \h^m ?keb h`b^Zxlky ]hklb m[hjdZijhba\h^blkyhkh[_gghbgl_gkb\ghLjm^h_fdhchdZau\Z_lkyb aZ[hlZh ij_^hl\jZs_gbb [ulh\uog_kqZklguokemqZ_\@_gsbgZdhlhjZygbjZam\ `bagbg_aZ[u\ZeZaZdjulv]Zah\uc djZgh[yaZl_evghfgh]hdjZlghijh\_jy_lk_[yih^gbfZykv^eywlh]hk ihkl_eb^Z`_ghqvxLh `_ kZfh_ ijh^_eu\Z_lky b k \oh^ghc ^\_jvx : ^g_f hiylv ih\lhjy_lky agZdhfZy dZjlbgZ ihdb^Zy ^hf ZgZgdZkl \ha\jZsZ_lky ijh\_jblv ZddmjZlgh eb aZi_jlZ ^\_jv lyg_l __ ljyk_l f_`^ml_f_s_gbjZamg_kemqZehkvqlh[uhgg_aZdjue^\_jv<udexq_gb_mlx]Zb k\_lZijb moh^_ ba ^hfm lZd`_ i_j_jZklZ_l \ ijh[e_fm LZdbf h[jZahf ^ey i_^Zglbq_kdbo ebqghkl_c b \uiheg_gb_ ljm^h\hc ^_yl_evghklb b [ulh\u_ aZ[hlu ijhl_dZxl gZklhevdh mkeh`g_gb_ qlh jZ^hklb`bagb\hafh`ghklvbfbgZkeZ`^ZlvkydZd[uijhoh^ylfbfhgbo?kebi_^Zglbqghklv \uklmiZ_l ebrv dZd Zdp_glmbjh\ZggZy q_jlZ oZjZdl_jZ lh hibkZggu_ \ur_ hljbpZl_evgu_ fhf_glu g_ ijhy\eyxlky Ih\_^_gb_ i_^Zglbq_kdhc ebqghklb g_ \uoh^bl aZ ij_^_eu jZamfgh]h b \ wlbo kemqZyo qZklh kdZau\Zxlky ij_bfms_kl\Z k\yaZggu_ k l_g^_gpb_c d hkgh\Zl_evghklb q_ldhklb aZdhgq_gghklb LZd \ h[eZklb ijhn_kkbhgZevghc ^_yl_evghklb i_^Zglbq_kdZy ebqghklv ijhy\ey_l k_[y iheh`bl_evgh lZd dZd \uihegy_l jZ[hlm hq_gv ^h[jhkh\_klgh >jm]b_ ih^mfZxl ^Z qlh lml \hablvky b lZd khc^_l LZdZy mklZgh\dZ ex^yf hibku\Z_fh]hlbiZqm`^ZGZijhba\h^kl\_ohjhrhagZxljZ[hlgbdZk wlhcklhjhguagZxlqlh gZ g_]h fh`gh iheh`blvky [_ah]h\hjhqgh _fm \k_]^Z ^h\_jyxl jZ[hlm ijb \uiheg_gbb dhlhjhc g_h[oh^bfZ [hevrZy lhqghklv lsZl_evghklv Ex[hiulgh ke_^mxs__ gZ ZgZgdZklZ hl\_lkl\_ggh_aZ^Zgb_fh`_lhdZaZlvm]g_lZxs__^_ckl\b_lZddZd\uah\_lfgh`_kl\hlj_\h]b hiZk_gbc \ lh `_ \j_fy i_^Zglbq_kdZy ebqghklv \havf_lky aZ jZ[hlm [_a hkh[uo jZa^mfbc b \uihegbl __ q_ldh ?keb mq_klv qlh i_^Zglbqghklv k\_joZddmjZlghklv wlh h^gh\j_f_ggh b k\_jo^h[jhkh\_klghklv lh kjZam klZgh\blky ihgylguf iheh`bl_evgh_ agZq_gb_ lZdhc q_jlu oZjZdl_jZIhablb\gh_gZqZehi_^Zglbq_kdhcebqghklbijhy\ey_lkyb \lhfqlhlZdhcq_eh\_d ex[bl k\h_ ijhba\h^kl\h ohjhrh hkhagZ_l h[yaZl_evkl\Z ih hlghr_gbx d g_fm b g_ f_gy_l f_klh jZ[hlu [_a \_kdbo hkgh\Zgbc G_j_^dh lZdb_ ex^b fgh]h e_l Z bgh]^Z b \kx `bagv jZ[hlZxl gZ h^ghf b lhf `_ ij_^ijbylbb K f_ehqguf i_^Zglbafhf kdjmime_aghklv lZdhc ebqghklb g_ bf__l gbq_]h h[s_]h Z ex[h\v d ihjy^dm lh`_ _s_ g_ ]h\hjbl h lhf qlh h[eZ^Zl_ev wlh]h dZq_kl\Z ² ZgZgdZkl gZ wlhf ih^jh[gh hklZgh\bfky gb`_ < [ulm ^ey ebp i_^Zglbq_kdh]hlbiZlZd`_oZjZdl_jgZ^h[jhkh\_klghklvFm`\ lZdbokemqZyog_j_^dh iZkmy i_j_^ [ulh\ufb ljm^ghklyfb i_j_deZ^u\Z_l hl\_lkl\_gghklv gZ `_gm Bgh]^Z baaZ qj_af_jgh]hmk_j^bylZdb_ebpZdhlhjuo_s_g_evayhlg_klbd ZgZgdZklZfhgbh[gZjm`b\Zxl lhevdhq_jlui_^Zglbqghklbfh]mlk_jv_aghhkeh`gblvk_[_`bagvH^gZdh^eyh[s_kl\Zhgb hq_gvp_gguI_^Zglbq_kdZykdjmime_aghklv\ijhq_f\ujZ`Z_lkyg_lhevdh\ \ukhdbo^_eh\uo dZq_kl\Zo HgZ qj_\ZlZ l_f qlh Zdp_glmbjh\ZggZy ebqghklv gZqbgZ_l mkbe_ggh i_qvky h kh[kl\_gghf a^hjh\v_ Ijb mf_j_gguo ijhy\e_gbyo wlh iheh`bl_evgh_ dZq_kl\h K\_joZddmjZlgucq_eh\_dhklhjh`_gg_m\e_dZ_lkydmj_gb_fg_kebrdhffgh]hiv_lH^gZdh ijbg_[eZ]hijbylguoh[klhyl_evkl\ZolZdZymklZgh\dZkem`bllheqdhfd jZa\blbxbihohg^jbb Ihykgx k\hx fukev \u^_j`dZfb ba hibkZgbc wlbo ebqghkl_c gh ij_`^_ ijb\_^m hibkZgb_ Rfbr_dhflj_oebpmihfbgZ_fuo\ gZr_fk gbfh[s_fljm^_ <_jg_jD]jh`^ke_kZjvihj_fhglmfZrbgK ^_lkdboe_l`bagv_]hreZjh\gh Jhk \ kihdhcghc k_fv_ ihk_sZe \hkvfbe_ldm mqbeky kj_^g_ AZl_f ]h^Z hk\Zb\Ze ijhn_kkbx ke_kZjy ihemqbe Zll_klZl k ohjhrbfb hp_gdZfb K ] jZ[hlZ_l ih ki_pbZevghklb\ h^ghcb lhc`_nbjf_<hl m`_ ]h^ dZd klZe [jb]Z^bjhf < ] `_gbeky `_gZ gZ ]h^Z fheh`_ _]h Bf__l ^\hbo ^_l_c b e_l B dZd jZ[hlgbd b dZd k_fvygbg D \k_]^Z[uegZ\ukhl_?]hk_f_cgZy`bagvkdeZ^u\ZeZkv]ZjfhgbqghK lh\ZjbsZfbihjZ[hl_ g_baf_gghohjhrb_^_eh\u_hlghr_gbyihegh_\aZbfhihgbfZgb_GZijhba\h^kl\_h DkZfh]h \ukhdh]h fg_gby _]h p_gyl aZ ljm^hex[b_ b kheb^guc hiul Q_eh\_d hg ^_evguc \k_]^Z ]hlh\ucihfhqvlh\Zjbsm Q_jlu ZgZebabjm_fh]h lbiZ hkh[_ggh yjdh \uy\eyebkv \ [_k_^Zo k D <uykgbehkv qlh k kZfh]h^_lkl\Z_]hkqblZxlklZjZl_evgufb ^h[jhkh\_klguffZevqbdhfD ex[hfmaZ^Zgbxhg hlghkblky k_jv_agh g_ [u\Z_l lZd qlh[u ihjmq_gb_ \uihegbe ih\_joghklgh ² \k_ aZjZg__ ijh^mfZgh lsZl_evguf h[jZahf GZf_qZ_lky y\gZy l_g^_gpby d ihke_^mxs_fm dhgljhebjh\Zgbxijh^_eZgghcjZ[hluIj_`^_q_fk^Zlvh[jZ[hlZggmx^_lZevDg_ij_f_ggh ©ih^lyg_l \bgluª Ijb k[hjd_ fZrbg \k_]^Z m[_^blky g_ ihiZeZ eb kljm`dZ \ ih^rbigbdb Moh^y ba d\Zjlbju ijh\_jy_l aZdjul eb ]Zah\uc djZg \udexq_g eb k\_l \k_]^Z ebrgbc jZa ^he`_gm[_^blvkyg_hklZ\e_guebgZ\b^ghff_kl_kibqdbhiZkZykvqlh^hgbofh]mle_]dh ^h[jZlvky ^_lb Z aZi_j_\ d\Zjlbjm hg g_kdhevdh jZa ^_j]Z_l ^\_jv aZ jmqdm GZkljh_gb_ D ij_bfms_kl\_ggh jh\gh_ Hg hohlgh ijh\h^bl \j_fy \ h[s_kl\_ [_a ljm^Z gZeZ`b\Z_l dhglZdlu k ex^vfb D Zdlb\gh j_Z]bjm_l gZ g_ijbylghklb ijb dhlhjuo [u\Z_l aZf_lgh \gmlj_gg_jZa^jZ`_ggh^he]hhggb gZdh]hg_k_j^blky I_j_^ gZfb q_eh\_d \u]h^gh \u^_eyxsbcky gZ nhg_ fgh]bo ^jm]bo ?]h ^h[jhkh\_klghklvxh[tykgy_lkyj_^dZylsZl_evghklvijb\uiheg_gbbjZ[hluM g_]h\ukhdb_ ljm^h\u_ ihdZaZl_eb Ke_^mxsbc kemqZc lZd`_ ih^l\_j`^Z_l qlh ZddmjZlghklv b ^h[jhkh\_klghklv \_^ml d ljm^h\uf ^hklb`_gbyf h[_ki_qb\Zxl Z\lhjbl_l gZ jZ[hl_ H^gh\j_f_ggh fu m[_^bfky b \ lhf qlh qj_af_jgZy ^h[jhkh\_klghklv qj_\ZlZ kljZohf i_j_^ hl\_lkl\_gghklvx DhgjZ^ G ] jh`^ ^bj_dlhj rdheu >_lkl\h ijhl_dZeh ghjfZevgh k_jv_aguo aZ[he_\Zgbc g_ [ueh < l_q_gb_ r_klb e_l ihk_sZe gZqZevgmx hkgh\gmx rdhem Z aZl_f^h]²jZkrbj_ggmxkj_^gxxrdhembgl_jgZlAZdhgqbe__mqbeky\k_]^Zohjhrh Iha^g__ihklmibegZi_^Z]h]bq_kdb_dmjkuhdhgqbebomki_rghK ] jZ[hlZ_lmqbl_e_fk ] ²^bj_dlhjhfrdheuG_dhlhjh_\j_fy ² [ue rdhevguf bgki_dlhjhf < ] `_gbeky bf__l ^\hbo ^_l_c < p_ehf `bagv G keh`beZkv [eZ]hihemqgh K `_ghc ² lZd`_i_^Z]h]hf²m g_]hihegh_\aZbfhihgbfZgb_<ha]eZ\ey_fZybfrdheZkqblZ_lkyh^ghc ba emqrbo K lh\ZjbsZfb ih jZ[hl_ hlghr_gby ohjhrb_ H[tykgy_lky ylh oZjZdl_jhf G q_eh\_dZ \_kvfZ ^h[jhkh\_klgh]h m dhlhjh]h \h \k_f ©Z`mjª Hg hkgh\Zl_evg_crbf h[jZahf ]hlh\blky d mjhdZf Fgh]hqbke_ggu_ k\_joieZgh\u_ ^_eZ ih rdhe_ dhlhju_ fh`gh [ueh [u ihjmqblvdhfmeb[hbadhee_dlb\Zhg\uihegy_lkZfqlh[u[ulvm\_j_gguf\ k\h_\j_f_gghf b q_]dhfbkiheg_gbbIjb\uklZ\e_gbbhp_ghdGhkl_j_]Z_lkyihki_rguokm`^_gbcg_ohq_l [ulv g_kijZ\_^eb\uf <hh[s_ _fm g_e_]dh djblbdh\Zlv ^jm]bo KZf hg [m^mqb xghr_c \h \j_fywdaZf_gh\qm\kl\h\Zek_[y g_m\_j_ggh \k_]^Z hq_gv \hegh\Zeky >he`ghklv bgki_dlhjZ rdhe hdjm]Z _]h gbdZd g_ mkljZb\ZeZ lZd dZd [ueZ k\yaZgZ k qZkluf ihk_s_gb_f rdhe b dhgljhebjh\Zgb_f dhee_] Ihwlhfm hg hldZaZeky hl g__ < bkl_dr_f ]h^m hg \kyq_kdb khijhlb\eyeky dh]^Z _]h aZ ohjhrb_ ihdZaZl_eb j_r_gh [ueh i_j_\_klb gZ [he__ hl\_lkl\_ggmx ^he`ghklv ?fm ijbylg__ _]h kdjhfgZy rdheZ ]^_ b hl\_lkl\_gghklv dm^Z f_gvr_ <ijhq_f b wlhl fZe_gvdbc mqZklhd p_ebdhf ih]ehsZ_l _]h Hlq_lu mqbl_e_c h[eZklghfmhl^_emijhk\_s_gbyG ijhqblu\Z_lkZfihg_kdhevdmjZaI_j_^kghfh[oh^bl\k_ ihf_s_gbyrdheuhgb k_fvy`b\mlijbrdhe_ijh\_jyy\k_eb\ ihjy^d_Ge_]dhkoh^blkyk ex^vfbgZkljh_gb_m g_]h\k_]^Zjh\gh_G_h[b^qb\g_ex[blkkhjkdZg^Zeh\ h[tykg_gbc ijbex[hfdhgnebdl_ij_^ihqblZ_lmklmiblvklj_fblkyba[_`Zlvklhedgh\_gbcihjZ[hl_ M \ur_hibkZgguoh[ke_^m_fuoi_^Zglbqghklvijhy\ey_lky\ h[eZklbijhn_kkbhgZevghc \ ljm^_ Gb`_ hibkZgZ `_gsbgZ gZ ijbf_j_ dhlhjhc fu \b^bf dZd ih^h[gu_ Zdp_glmbjh\Zggu_q_jluoZjZdl_jZijhy\eyxlky\ [ulh\hch[klZgh\d_ WevaZ R ] jh`^ ^hfhohaycdZ >_lkdb_ ]h^u gbq_f g_ ijbf_qZl_evgu AZdhgqbeZ gZqZevgmxrdhemIhke_]h^ZijZdlbdbklZeZjZ[hlZlv\ ohayckl\_hlpZihdZ\ ]g_\ureZ aZfm` M g__ ^\h_ ^_l_c R hq_gv ^h[jhkh\_klgZ \kydmx jZ[hlm \uihegy_l hkgh\Zl_evgh Khk_^bqZklhhlf_qZxlqlhhgZq_j_kqmjZddmjZlgZ[_agm`^umkeh`gyywlbfk_[_`bagvR gbdh]^Z g_ hl^uoZ_l hgZ jZ[hlZ_l k mljZ ^h \_q_jZ g_ ihdeZ^Zy jmd ^h[b\Zykv \h \k_f h[jZaph\h]hihjy^dZ[_amdhjbag_gghcqbklhluKemqZ_lkyqlhhgZjZ[hlZ_l^Ze_dhaZiheghqv ohlygZf_q_ggh_[_a\kydh]hms_j[Zfh`gh[ueh[u\uihegblvb gZke_^mxsbc^_gvGhhgZ ihijhklm g_ gZoh^bl ihdhy ihdZ g_ i_j_^_eZ_l \k_]h qlh gZf_q_gh ?s_ jZ[hlZy \ ihe_ gZ mqZkld_ hlpZ R keZ\beZkv h[jZaph\hc bkihegbl_evghklvx b jh^bl_eb hq_gv kh`Ze_eb h[ mljZl_ lZdhc ihfhsgbpu Dh]^Z hgZ iha`_ ijb_a`ZeZ ih]hklblv b hl^hogmlv m jh^guo lh g_baf_ggh\dexqZeZkv\ jZ[hlmih^hfmb ^h\h^beZ\k_^h[e_kdZDjhf_jZ[hluihohayckl\m ^eyk_fvbR_s_\ha^_eu\Z_lkZ^bd=jy^db\ g_fijyfu_dZdklj_edbgb _^bgh]hkhjgydZg_ gZclb Mljhf hgZ \k_]^Z ih^gbfZ_lky \ gZagZq_ggh_ \j_fy gh wlh g_ f_rZ_l _c aZ\h^blv ^\Z [m^bevgbdZ ©qlh[u \h\j_fy jZa[m^blv fm`Zª R qZklh ijh\_jy_l \uiheg_ggmx _x jZ[hlm \ulj_liuev²b kjZamgZqbgZ_l]eZ^blvjmdhcf_[_evqlh[umklZgh\blvg_hklZehkvebiueb HgZ h[yaZl_evgh ^_j]Z_l ^\_jgmx jmqdm aZi_j_\ aZ kh[hc \oh^gmx ^\_jv ;u\Z_l b lZd qlh \ha\jZsZ_lky ^hfhc m[_^blvky \ lhf qlh ]Za b mlx] \udexq_gu IjZ\^Z _c gbdh]^Z _s_ g_ kemqZehkv aZ[ulv \udexqblv lhl beb bghc ijb[hj gh \k_ `_ hgZ baaZ wlh]h [_kihdhblky Ih gZlmj_hgZlboZyaZfdgmlZy`_gsbgZih]ehs_gZk_fv_c^eydhlhjhc`b\_lGZkljh_gb_m R \k_]^Z jh\gh_ hgZ ba[_]Z_l g_ijbylguo h[tykg_gbc \hh[s_ q_eh\_d hq_gv m`b\qb\uc kh \k_fb_cohl_ehkv[u`blv\ fbj_ K\_joZddmjZlghklv wlhc `_gsbgu ih kms_kl\m y\ey_lky iheh`bl_evghc q_jlhc ?_ fh`gh kqblZlv h[jZaph\hc ohaycdhc ohlybgh]^ZhgZb ©i_j_[Zjsb\Z_lª Gb \ h^ghf ba lj_o hibkZgguokemqZ_\g_ijboh^blky]h\hjblvh ikbohiZlbbDhg_qgh\k_wlbebqghklbihk\h_fm Zdp_glmbjh\Zggu_gh\k_`_Z[khexlghghjfZevgu_Ke_^mxs__hibkZgb_ZgZgdZklZk mdehghf \ ikbohiZlbxijh^_fhgkljbjm_lkl_i_gv_]hhldehg_gbyhlghjfu Hk\Zev^ = ] jh`^ ih ijhn_kkbb ke_kZjv < rdhe_ [ue hq_gv mk_j^guf klZjZl_evgufmq_gbdhfHdhgqbedmjkke_kZjgh]h^_eZ[ueijba\Zg\ ZjfbxihiZe\ ie_gK ] jZ[hlZ_l ih ki_pbZevghklb < ] `_gbeky bf__l kugZ = \ jZ[hl_ \k_]^Z [ue ZddmjZlgufghwlhdZdlhg_[jhkZehkv\ ]eZaZihdZ\ ] _fmg_ihjmqbebhl\_lkl\_gguc mqZklhd Ihkl_i_ggh = klZgh\blky \k_ [he__ b [he__ g_m\_j_gguf \ k_[_ ?]h ihklhyggh ij_ke_^m_lebrvh^bg\hijhkghjfZevghebih^lygmlu\bglu\ ba]hlh\ey_fuobfba^_ebyo< j_amevlZl_hgih^ly]b\Z_lboklhevhkgh\Zl_evghqlhbgh]^Zhgbg_\u^_j`b\ZxlgZ]jmadbGZ ijhba\h^kl\_klZeb]h\hjblv©= kju\Z_l\k_\bgluªIhkh\_lm\jZqZ=baf_gbef_klhjZ[hlu ² gZ lhf `_ aZ\h^_ klZe gZqZevgbdhf p_oZ DZd gZqZevgbd hg h[yaZg ih^l\_j`^Zlv k\h_c ih^ibkvxqlhjZaebqgu_jZ[hluihp_om\uiheg_gukh]eZkghghjfZfIj_`^_q_fihklZ\blv ih^ibkv = fgh]hdjZlgh ijh\_jy_l dZq_kl\h \k_o \uimkdZ_fuo ^_lZe_c qlh g_\_jhylgh aZly]b\Z_lijhp_^mjmk^ZqbIhwlhfmhgkgh\Zf_gy_l^he`ghklvgZlhf`_aZ\h^_klZgh\blky hl\_lkl\_gguf aZ dZjlhl_dm ih aZiZkguf qZklyf Gh b a^_kv = ijh\_jy_l b i_j_ijh\_jy_l aZiqZklb [_a dhgpZ ?]h i_j_\h^yl \ hl^_e j_fhglZ KgZqZeZ \k_ b^_l ]eZ^dh gh \hl kgh\Z gZqbgZxlky aZly`gu_ ijh\_jdb GZ wlhl jZa = g_ ^h\_jyy kZfhfm k_[_ ijb\e_dZ_l ^ey dhgkmevlZpbcihdhgljhex_s_b khljm^gbdh\< j_amevlZl_ihklhyggu_kju\u]jZnbdZ>hfZ lZd`_ g_ e_]q_ Dh]^Z = ih \ha\jZs_gbb k jZ[hlu hlijZ\ey_lky ihklZ\blv \_ehkbi_^ \ ih^\Zevgh_ihf_s_gb_lhihlhf^he]hg_fh`_lhlhclbhl^\_jb\_^ms_c\ ih^\Zeijh\_jyy gZf_kl_eb_]h©dhgvª>he]hg_fh`_lhg©hlhj\Zlvkyªb hl \bkyq_]h aZfdZ gZ^\_jb r_iqZ ijhk_[y©>ZaZi_jy _]hgZdhg_pbebg_l"ª<udexqb\k\_l=lml`_\ha\jZsZ_lkyijh\_jblv \udexq_g eb hg < ysbd ^ey ibk_f aZ]ey^u\Z_l ih jZa BaaZ gZ\yaqb\uo ijh\_jhd m g_]h kh\k_f g_ hklZ_lky k\h[h^gh]h \j_f_gb b \k_ `_ hg g_ fh`_l k_[y k^_j`Zlv D wlhfm ijbkh_^bgyxlky hiZk_gby aZ `_gm b kugZ GZijbf_j = ij_ke_^mxl dZjlbgu ih`ZjZ ijb dhlhjhf]b[g_l_]hk_fvyhgklj_fblkyh[_ahiZkblv^hfb [ebadbohlm]jhauih`ZjZ = [ue g_ lhevdh i_^Zglbq_kdb ZddmjZl_g b ^h[jhkh\_kl_g ij_ke_^m_fuc gZ\yaqb\ufb kZfhijh\_jdZfb hg gb h^gh]h ^_eZ g_ fh] ^h\_klb ^h dhgpZ = k h[e_]q_gb_f \a^uoZe i_j_oh^y gZ gh\h_ f_klh jZ[hlu ² fmqbl_evguc mqZklhd hklZ\Zeky ihaZ^b Gh g_ mki_\ \dmkblviheghklvxqm\kl\Zhk\h[h`^_gbyhghdZau\Zekykgh\Z\h\eZklb\k_l_o`_gZ\yaqb\uo kZfhijh\_jhd lhevdh ©i_j_kZ`_gguoª \ ^jm]hc p_o gZ gh\u_ h[t_dlu H[ke_^m_fuc ijhr_e dmjkikbohl_jZi_\lbq_kdh]he_q_gby[ueih^jh[ghijhbgkljmdlbjh\ZgdZd[hjhlvkykhk\h_c h^_j`bfhklvxFu\gmrbeb_fmqlhdZd[ugb[ueb\_ebdb_]hkhfg_gbyb g_j_rbl_evghklv gb ijb dZdbo h[klhyl_evkl\Zo g_^himklbfh gZ gbo aZ^_j`b\Zlvky Z gZijhlb\ gm`gh [_a ijhf_^e_gbyi_j_oh^blvd ke_^mxs_fm^_ckl\bxbebd fukebk\yaZgghck gbfBf_gghlZdh\ imlv\ha\jZs_gbyZgZgdZklZd ghjfZevghc`bagbb ljm^h\hc^_yl_evghklbg_kfhljygZlhqlh kZfZ ZghfZevgZy l_g^_gpby [hevgh]h jZ^bdZevgh g_ ebd\b^bjm_lky GZ^h kdZaZlv qlh gZ \h_gghckem`[_[hevrbgkl\hZgZgdZklh\qm\kl\mxlk_[yemqr_q_fgZ]jZ`^Zgkdhcihkdhevdm kljh`ZcrZy\h_ggZy^bkpbiebgZg_hklZ\ey_lf_klZ^eyg_j_rbl_evghklbb dhe_[Zgbc<hh[s_ `_ \Z`guf fhf_glhf m ZgZgdZklh\ y\ey_lky \hkiblZgb_ kZfh^bkpbiebgu DhgkmevlZpbb \ lZdbo kemqZyo ^Z_l ikbohl_jZi_\l GZr h[ke_^m_fuc = ihke_ dmjkZ e_q_gby fh] [_kij_iylkl\_ggh\uihegylvjZ[hqb_h[yaZgghklbGhkeZ[hklv\ ijbgylbbj_r_gbchklZeZkvb ihij_`g_fm agZqbl_evgh h]jZgbqb\ZeZ k\h[h^m _]h ^_ckl\bc LZdZy keZ[hklv fh`_l [ulv d\Zebnbpbjh\ZgZdZdikbohiZlbq_kdZy I_^ZglbqghklvdZdq_jlZoZjZdl_jZfh`_lijhy\eylvky ^Z`_ \ ^_lkl\_ ohly \ wlhf \hajZkl_ hgZ b g_ [u\Z_l j_adh \ujZ`_gghc ?c ij_iylkl\m_l _kl_kl\_ggh_ \hajZklgh_ hlkmlkl\b_ kh[jZgghklb hldm^Z b qZklh \klj_qZxsZyky m ^_l_c g_h[^mfZgghklv ihklmidh\ Ihwlhfm ^_l_c ijbgZ^e_`Zsbo d i_^Zglbq_kdhfm lbim kjZam fh`ghhlebqblvhl^jm]bohgb\u^_eyxlkyk\h_c^h[jhkh\_klghklvx^bkpbiebgbjh\Zgghklvx DZdijbf_jijb\_^mhibkZgb_j_[_gdZk^_eZggh_\ gZr_fkh\f_klghfljm^_\jZqhfEbg^_j I_l_jRe_le_qbeky\ klZpbhgZj_gZr_cdebgbdb\ ]ihih\h^mlbdZfurpebpZ ?]hjh^bl_ebijb^Z\Zebh]jhfgh_agZq_gb_mki_oZf^_l_c\ rdhe_DZdlhevdhj_[_ghdihemqZe g_\ukhdmxhp_gdmfZlvgZqbgZeZ^hihegbl_evghaZgbfZlvkyk gbfih^Zgghfmij_^f_lmGZr fZe_gvdbciZpb_glm`_b ij_`^_[uekdehg_gd nbabq_kdhfmi_j_mlhfe_gbx?fmijboh^blky aZf_lghgZijy]Zlvkyqlh[ug_hlklZ\Zlvhljh\_kgbdh\ohlyhghlgx^vg_y\ey_lky©hlklZeufª j_[_gdhf FZevqbd [he_ag_ggh j_Z]bjm_l gZ iehob_ hp_gdb ohly b klZjZ_lky g_ ihdZau\Zlv wlh]h kdju\Zy k\h_ h]hjq_gb_ I_l_j g_j_^dh [u\Z_l [ebahd d ke_aZf baaZ h[b^u baaZ aZ\ur_gguo lj_[h\Zgbc Gh fZevqbd g_ ohq_l qlh[u _]h `Ze_eb hg kZfhex[b\ Mqblky hg \k_]^Z klZjZl_evgh hl^Z\Zy ih^]hlh\d_ \k_ kbeu klj_fykv \uihegylv rdhevgu_ aZ^Zgby [_amdhjbag_ggh Qlh [u gb ihjmqblv I_l_jm ba [ulh\uo ^_e gZ g_]h fh`gh [_amkeh\gh iheh`blvky Wlh ih^l\_j`^Zxl b jh^bl_eb FZevqbd lsZl_evgh \uihegy_l ex[h_ ^hfZrg__ ihjmq_gb_^Z`_\ l_okemqZyodh]^Zjh^bl_ebm_a`Zxll_gbdlh_]hg_dhgljhebjm_lBa\k_o [jZlv_\b k_kl_jI_l_jkZfucbkihegbl_evgucLbdgZqZekym fZevqbdZ\ \hajZkl_²e_ll _ _s_ ^h ihk_s_gby rdheu G_fZemx jhev \ wlhf ku]jZe _]h _^bghmljh[guc klZjrbc [jZl ihklhygguc ©khi_jgbdª gZr_]h iZpb_glZ Ih jZkkdZaZf fZl_jb __ kugm hl i_j\h]h [jZdZ ² a^hjh\hfm gZklhcqb\hfm dj_iurm ² ^hklZ\eyeh m^h\hevkl\b_ ^jZagblv f_g__ \ughkeb\h]h [jZlZaZ^bjZlvkyk gbf<kdhj_ihke_\uibkdbI_l_jZbadebgbdbjh^bl_ebhlijZ\bebklZjr_]h [jZlZ \ bgl_jgZl Lbd m^Zehkv \ue_qblv l_i_jv hg ihy\ey_lky m I_l_jZ lhevdh \ fhf_glu \hey_gbygZijy`_ggh]hg_j\gh]hh`b^Zgbybebijbi_j_mlhfe_gbb MklZgh\blvqlhwlhlfZevqbd²fZe_gvdbcij_^klZ\bl_evi_^Zglbq_kdh]hlbiZg_ljm^gh < \uiheg_gbb ihjmq_gguo aZ^Zgbc hg hlebqZ_lky g_h[uqZcghc ^h[jhkh\_klghklvx Fh`gh kdZaZlvqlh_fmqm`^uoZjZdl_jgu_^ey ex[h]h j_[_gdZ [_ki_qghklv e_]dhfukeb_ < k\yab k l_fqlhh^gh\j_fyI_l_jaZgbfZekyk qj_af_jgufgZijy`_gb_fkbehg\gh\vklZeg_\jhlbdhf kgh\Z mkbebeky lbd Ihy\e_gb_ lbdZ \hajZklZgb_ _]h bgl_gkb\ghklb ijb wlhf \_kvfZ oZjZdl_jgu ² lbd b m \ajhkeuo ij_^klZ\bl_e_c i_^Zglbq_kdh]h lbiZ qZs_ \k_]h ihy\ey_lky lh]^Z dh]^Z [hevrb_ i_j_]jmadb khijh\h`^Zxlky ih\ur_gguf \gbfZgb_f d ijhp_kkZf ijhbkoh^ysbf \ kh[kl\_gghf hj]Zgbaf_ GZ ihq\_ ZgZgdZklbq_kdhc ikbohiZlbb \hafh`gh jZa\blb_g_\jhaZgZ\yaqb\uokhklhygbcIjh\_klbq_ldmx]jZgbpmf_`^mh[uqgufbj_Zdpbyfb ZgZgdZklZ b jZa\blb_f g_\jhaZ gZ\yaqb\uo khklhygbc \jy^ eb \hafh`gh Bgh]^Z m`_ i_j\h_ dhe_[Zgb_ ijb kblmZpbb lj_[mxs_c hij_^_e_ggh]h j_r_gby fh`_l hdZaZlvky ij_^ihkuedhc ^ey jZa\blby g_\jhaZ Ke_^mxs__ aZl_f dhe_[Zgb_ ih ZgZeh]bqghfm ih\h^m fh`_l aZf_lgh mkbeblv lhjfh`_gb_ ih^gylv _]h \ur_ bkoh^ghc lhqdb Gh h jZa\blbb kh[kl\_ggh g_\jhaZ ke_^m_l]h\hjblvebrvlh]^Zdh]^Zh[ke_^m_fucmljZqb\Z_lkihkh[ghklvkh\_jrZlvjZamfgu_ ihklmidbIjbwlhfg_bf__lagZq_gbydZdbf_gghhgihklmiZ_llhebg_kh\_jrZ_lgm`gh]h ^_ckl\bylhebgZijhlb\kh\_jrZ_l_]hlZf]^_hghbaebrg_Hibku\Z_fh_jZa\blb_dZd[u sZ^bl \k_ h[eZklb ^_yl_evghklb djhf_ h^ghc ke_^h\Zl_evgh mklZgZ\eb\Z_lky h^ghklhjhggyy gZ\yaqb\hklvQZklhbf_gghwlZh]jZgbq_gghklvgZjmr_gbyhkh[_ggh[jhkZ_lky\ ]eZaZ;u\Z_l qlhq_eh\_dg_j_rZ_lky\uclbba^hfmgZmebpm[hykvkjZam©k\ZeblvkyaZf_jl\hªb \lh`_ \j_fy hg g_ h[gZjm`b\Zy b l_gb lhjfh`_gby kZ^blky \ fZrbgm dhlhjmx \^h[Z\hd kZf `_ \_^_l Q_fh^ghagZqg__ gZf_qZxs__kyjZa\blb_ \ klhjhgm g_\jhaZ gZ\yaqb\uo khklhygbc l_f y\kl\_gg__ wlb khklhygby km`Zxlky k\h^ykv d h^ghc hij_^_e_gghc h[eZklb ikbobdb M q_eh\_dZ gZ\yaqb\h khkj_^hlhq_ggh]h gZ h^ghc dZdhceb[h l_f_ ijhklh g_ hklZ_lky \j_f_gb ^eylh]hqlh[udhe_[Zlvky\ g_j_rbl_evghklblZd`_b \hlghr_gbb^jm]boh[eZkl_c`bagb< kblmZpbyo e_`Zsbo aZ ij_^_eZfb g_\jhaZ hg eb[h ihklmiZ_l ghjfZevgh dZd \kydbc ^jm]hc q_eh\_d eb[h \hh[s_ g_ \dexqZ_lky gb \h qlh \g_ kn_ju k\h_]h aZ[he_\Zgby GZijbf_j ^hfhohaycdZ fh`_l qZkZfb fulv jmdb gb]^_ g_ m[bjZy aZimklb\ k\h_ ohayckl\h lZd dZd \j_f_gbgZg_]h©g_hklZ_lkyªBf_gghlZdh]hjh^Zq_jluiZjZ^hdkuhlebqZxlh[ke_^m_fmx d hibkZgbxdhlhjhcy i_j_oh`m WebaZ[_lL]jh`^ihijhn_kkbbi_^bZljbq_kdZyf_^k_kljZIhfgblqlhm`_\ e_lkljZ^ZeZgZ\yaqb\ufbij_^klZ\e_gbyfbkqblZeZqlh_kebi_j_\_^_l]eZaZk hkh[uh^_lhc\ q_jgh_ gZ ^jm]h]h q_eh\_dZ lh ihke_^gbc \kdhj_ mfj_l ?_ ihklhyggh fmqbeZ kh\_klv hgZ qZklh[_]ZeZbkih\_^u\Zlvky< \hk_fgZ^pZlbe_lg_f\hajZkl_bae_dpbcgZdmjkZof_^k_kl_jL magZeZh lhfqlh[Zpbeeulm[_jdme_aZljm^g__ih^^Zxlkymgbqlh`_gbxq_fex[u_^jm]b_< wlhli_jbh^hgZdZdjZamoZ`b\ZeZaZ^_lvfb[he_\rbfblm[_jdme_ahfdbrhdb `_e_aD lhfm `_hl_pqZklhjZkkdZau\Zeh k\h_f[jZl_[he_xsbflm[_jdme_ahfM Lihy\bekygZ\yaqb\uc kljZo lm[_jdme_aguo [Zpbee HgZ m\hebeZkv k ^he`ghklb i_^bZljbq_kdhc k_klju b ^h ] jZ[hlZeZqZklghckb^_edhc< ]\ureZaZfm`klZeZfZl_jvxljhbo^_l_c<h\j_fy\hcgu L^he]h_\j_fyjZ[hlZeZ f_^k_kljhc \ ]hkiblZeyo \ wlhl i_jbh^ gZ\yaqb\u_ij_^klZ\e_gby m g__g_\hah[gh\eyebkv< ]\h\j_fy[hf[Zj^bjh\dbih]b[eb^\_^hq_jbLIhke_wlh]h__ kgh\Z h[mye gZ\yaqb\uc kljZo i_j_^ [ZpbeeZfb ;he_agv ijh]j_kkbjh\ZeZ \ ] klZeZ m]jh`Zxs_c Djm]eu_ kmldb __ ij_ke_^h\Zeb gZ\yaqb\u_ khklhygby K mljZ ^h \_q_jZ hgZ aZgbfZeZkv klbjdhc gh \k_ `_ g_ fh]eZ ^h[blvky `_eZ_fhc qbklhlu >hf m g__ [ue ihehg \k_\hafh`guoljyihdb ljyihq_ddZ`^Zybadhlhjuobf_eZki_pbZevgh_gZagZq_gb_D ^\_jguf jmqdZf L bgZq_ dZd q_j_a ljyihqdm g_ ijbdZkZeZkv Eh`beZkv kiZlv hq_gv iha^gh Hkh[_ggh kd\_jghgZg__\ebyeZohjhrZyih]h^Z\ kheg_qgu_^gbhgZkqblZeZg_h[oh^bfufmgbqlh`Zlv [Zpbeeulm[_jdme_aZdhlhju_fh]ebgZoh^blvkygZ[_ev_ijbihfhsbkheg_qguoemq_cM`_k ghqbhgZgZqbgZeZkh[bjZlv\k_[_ev_qlh[uijbihy\e_gbbi_j\uo`_emq_ckhegpZjZa\_kblv _]h gZ ^\hj_ Khklhygb_ h[ke_^m_fhc hkh[_ggh mom^rZehkv dh]^Z _c gm`gh [ueh \uclb gZ mebpm kljZo ijbclb \ khijbdhkgh\_gb_ k [ZpbeeZfb \ wlb fhf_glu \hajZklZe \h fgh]h jZa M\b^y ]^_eb[h iylgZ djh\b L gZ [hevrhf jZkklhygbb h[oh^beZ wlh f_klh b l_f g_ f_g__ kljZo qlh [Zpbeeu ©i_j_reb gZ g__ ba djh\bª g_ m^Z\Zehkv ih^Z\blv ?_ ij_ke_^h\Zeb \hh[jZ`Z_fu_dZjlbgudjh\Z\hcfhdjhlu[hevguolm[_jdme_ahfb \k_qZs__cf_j_sbebkvgZ ZknZevl_b gZkl_gZo^hfh\\b^hbaf_g_gby\ hdjZkd_\ua\Zggu_ydh[udjh\vx< dhgp_dhgph\ hgZklZeZ\uoh^blvgZmebpmebrv\ kemqZ_djZcg_cg_h[oh^bfhklbH[ke_^m_fhcijbr_^r_c gZ ijb_f \ gZr_ ikbohl_jZi_\lbq_kdh_ hl^_e_gb_ [ueZ ij_^ibkZgZ bgl_gkb\gZy l_jZiby hl\e_q_gb_f b ijb\udZgb_f Hkgh\gZy p_ev ² ba[Z\blv __ hl gZ\yaqb\h]h kljZoZ i_j_^ [ZpbeeZfblm[_jdme_aZb djh\vxH^gh\j_f_gghhgZjZ[hlZeZgZ^mk\h_gb_fjZajZ[hlZgguob j_dhf_g^h\Zgguo _c gZfb ijZ\be ih\_^_gby dhlhju_ \ dhg_qghf kq_l_ ^he`gu [ueb hk\h[h^blv L hl ]hkih^kl\Z gZ\yaqb\uo khklhygbc g_ ihdb^Z\rbo __ \ kbem ijbkmsbo _c hkh[_gghkl_c ebqghklb Ihke_ ijhoh`^_gby dmjkZ e_q_gby L klZeZ \gh\v jZ[hlZlv \ dZq_kl\_ i_^bZljbq_kdhc f_^k_klju HgZ [ueZ gZijZ\e_gZ gZ ij_`gxx jZ[hlm k p_evx khojZg_gby \ujZ[hlZggh]h gZfb \ ijhp_kk_ e_q_gby `bag_ggh]h jblfZ <hl m`_ g_kdhevdh e_l dZd L jZ[hlZ_l ih ki_pbZevghklb i_^bZljbq_kdhc f_^k_kljhc b h[jZaph\h \_^_l ^hfZrg__ ohayckl\hKjZ\gbl_evghg_^Z\ghfukijZ\eyebkvh g_chgZ\k__s_jZ[hlZ_lgZklZjhff_kl_\ ^_lkdbo ykeyo Fu ihemqbeb hl g__ ibkvfh k \ujZ`_gb_f [eZ]h^Zjghklb <k_ `_ L ^he`gZ qj_a\uqZcgh \gbfZl_evgh ke_^blv aZ kh[hc qlh[u m[_j_qvky hl \hah[gh\e_gby gZ\yaqb\uo ij_^klZ\e_gbc<_^vkZfZ[he_ag_ggZyi_^Zglbqghklvh[ke_^m_fhce_q_gb_fmkljZg_gZg_[ueZ JZa\blb_ ZgZgdZklbq_kdh]h g_\jhaZ ij_^iheZ]Z_l mihjgmx klhcdhklv Znn_dlZ ihwlhfm ^Zgguc g_\jha \ ^_lkdhf \hajZkl_ g_ \klj_qZ_lky Bkdexq_gb_ ij_^klZ\ey_l kh[hc j_[_ghd hibkZgguc gZr_c khljm^gbp_c Ebg^g_j \ gZr_f kh\f_klghf ljm^_ JZa\blb_ aZ[he_\Zgby klbfmebjh\Zehkv g_\jhahf fZl_jb dhlhjuc hljZ`Zeky b gZ j_[_gd_ KZfZ `_ \hafh`ghklv aZ[he_\Zgby h[mkeh\e_gZ hkh[_gghklyfb ebqghklb j_[_gdZ _keb g_ ZgZgdZklbq_kdbfb lh ih f_gvr_cf_j_i_^Zglbq_kdbfb FZjbhJe_le_qbeky\ gZr_fklZpbhgZj_ih ih\h^m dZl_]hjbq_kdh]h hldZaZ ihk_sZlv rdhemWlhfmij_^r_kl\h\ZekemqZcdh]^ZFZjbh\_jgm\rbkvbardheug_fgh]hiha^g__q_f h[uqghg_aZklZe^hfZfZfmdhlhjZyh[uqgh\k_]^Z_]h`^ZeZFZjbh²_^bgkl\_gguckug>h rdheuebrvdhjhldh_\j_fy[ue\ ^_lkdhfkZ^m\k_^_lkl\hijh\_e\ jh^bl_evkdhf^hf_?]h fZlv \hl m`_ g_kdhevdh e_l gZoh^blky ih^ gZ[ex^_gb_f ikbohl_jZi_\lh\ ih ih\h^m \k_\hafh`guonh[bc< gZrmdebgbdmhgZihklmibeZh^gh\j_f_gghk kughf<uoh^yba^hfm fZlvqZklh[jZeZk kh[hcfZevqbdZ©^eyih^^_j`dbªijbi_j_oh^_q_j_amebpmbebq_j_afhkl lZddZdkZfZoh^blvih]hjh^m[hyeZkvFZevqbdh[uqgh^_j`Ze__ aZjmdmHl_p\k_]^Zhq_gv aZgyl gZ jZ[hl_ hg ijhba\h^bl \i_qZle_gb_ q_eh\_dZ \u^_j`Zggh]h hklhjh`gh]hgZ^_`gh]h FZjbhk jZgg_]h\hajZklZ[hyaeb\?]hgbdh]^Zg_evayhklZ\eylvh^gh]h^hfZ²gb \_q_jhfgb ^g_f Hg [hblky aZkuiZlv \ l_fghl_ Wlh `b\hc jZa\blhc j_[_ghd hg g_ kdhjh aZ[u\Z_l gZg_k_ggu_ h[b^u hq_gv p_gbl dh]^Z \uihegyxl ^Zggu_ _fm h[_sZgby Ijhl_kl ijhlb\ ihk_s_gby rdheu k\yaZ\ k l_f qlh hg [hyeky ©g_ aZklZlv fZfmª ih \ha\jZs_gbb ba rdheu Jh^bl_ebkgZqZeZiulZebkvkZfbhl\h^blv_]hgZaZgylbyghijbi_j\hc`_\hafh`ghklbFZjbh m[_]Ze ^hfhc ?keb `_ gZ g_]h hdZau\Zehkv ^Z\e_gb_ b hg [ul \ugm`^_g ijbkmlkl\h\Zlv gZ mjhdZo lh \k_ \j_fy g_j\gbqZe [ue kZf g_ k\hcb gbdZd g_ fh] ^h`^Zlvky fhf_glZ moh^Z ©d fZf_ª GZ hkgh\Zgbb wlbo [he_ag_gguo j_Zdpbc FZjbh mqbeky hg e_]dh b ohjhrh [ue hk\h[h`^_g hl ihk_s_gby aZgylbc ^h ihklmie_gby \ gZr klZpbhgZj < klZpbhgZj_ FZjbh ijhba\h^be\i_qZle_gb_j_[_gdZkdhj__jZkkm^bl_evgh]hb haZ[hq_ggh]hq_f[hyaeb\h]hIjb ikboheh]bq_kdhf h[ke_^h\Zgbb hg \k_]^Z ^h\hevgh ^he]h h[^mfu\Ze hl\_l DZaZeky j_[_gdhf g_ih]h^ZfmfgufDjhf_lh]h[jhkZeZkv\ ]eZaZ_]hg_baf_ggZyZddmjZlghklv\ h^_`^_^Z`_ ihke_rmfguob]jk ^jm]bfb^_lvfb\ [hevgbqghfkZ^mK ^_lkdbfdhee_dlb\hfdebgbdbhg[_a ljm^Z gZr_e h[sbc yaud lh\Zjbsb m\Z`Zeb _]h b ke_]dZ ih[Zb\Zebkv Hq_gv im]Zeb FZjbh \aylb_ djh\b ^ey ZgZebaZ b ^jm]b_ ih^h[gu_ ijhp_^mju G_k^_j`Zgghklv ih\_^_gby aZf_lgZ [ueZlhevdh\ l_okemqZyodh]^Zhg`^Zeihk_s_gbyjh^bl_e_c\hegh\Zekyqlhhgbg_ijb^ml ohly hgb gb jZam g_ ijhimklbeb ijb_fgh]h ^gy b qZkZ JZkkm^bl_evghklv fZe_gvdh]h FZjbh iha\hebeZ gZf k^_eZlv ihiuldm ihkueZlv _]h ijyfh ba klZpbhgZjZ \ _]h klZjmx rdhem gZ aZgylby qlh[u ihgZ[ex^Zlv ih\lhjylky eb ij_`gb_ kju\u >\_ g_^_eb hg kh\_jr_ggh ghjfZevgh ihk_sZe rdhem Z dh]^Z gZqZebkv dZgbdmeu \dexqbeky \ kihjlb\gu_ b]jy ijb rdhe_Fu\uibkZebFZjbhij_^eh`b\_fmqlh[uhgoh^begZkihjlb\gu_b]juba^hfmGZ Zf[meZlhjghf ijb_f_ q_j_a g_kdhevdh f_kyp_\ fu \uy\beb qlh b ^Zevg_crb_ ihk_s_gby j_]meyjguoaZgylbcihke_dZgbdmereb[_ai_j_[h_\ ?keb fZevqbd kljZ^Z\rbc km^y ih _]h khklhygbx g_\jhahf gZ\yaqb\uo khklhygbc \ debgbd_ aZ g_h[udgh\_ggh dhjhldbc kjhd hl g_]h bae_qbeky lh \ i_j\mx hq_j_^v ijbqbgm lZdh]hkhklhygbyke_^m_lbkdZlv\ ^_lkdhfkdeZ^_ikbobdb^eydhlhjh]hklhcdhklvZnn_dlh\g_ lbibqgZ I_^Zglbq_kdbc kdeZ^ oZjZdl_jZ FZjbh g_baf_ggh ijhy\eyeky \ _]h klj_fe_gbb d qbklhl_ ZddmjZlghklb \ ex[\b d ihjy^dm < ieZg_ lh]h `_ i_^Zglbq_kdh]h kdeZ^Z ke_^m_l ljZdlh\Zlv b _]h gZklhcqb\hklv \ lj_[h\Zgbb \uiheg_gby ^Zgguo _fm h[_sZgbc Fh`gh dhg_qgh aZ^Zlvky ke_^mxsbf \hijhkhf g_ \hagbd eb g_\jha gZ\yaqb\uo khklhygbc b g_ knhjfbjh\ZekyebkZfkdeZ^oZjZdl_jZwlh]hj_[_gdZih^\ebygb_f[he_ag_ggh]hkhklhygby_]h fZl_jb" < ^Zgghc dgb]_ y g_ aZgbfZxkv ijh[e_fhc lh]h \ dZdhc f_j_ kljmdlmjZ oZjZdl_jZ jh^bl_e_c fZl_jb fh`_l i_j_^Z\Zlvky j_[_gdm m`_ \ ^_lkl\_ Ij_`^_ \k_]h ih^h[gu_ dhgklZlZpbb ijbrehkv [u ^_eZlv \ kZfhf jZgg_f \hajZkl_ lZd dZd gZijbf_j \ rdhevghf \hajZkl_fukiehrvb jy^hfm`_h[gZjm`b\Z_fkeh`b\rbfbkyl_q_jluoZjZdl_jZdhlhjufb h[eZ^Zxl \ajhkeu_ ex^b F_`^m l_f lZdbo khihklZ\e_gbc gbdlh ihdZ g_ ijh\h^be Ke_^m_l ih\lhjblv _s_ jZa qlh \ ^Zgghc jZ[hl_ y ij_ke_^h\Ze p_ev ijhZgZebabjh\Zlv kZfb q_jlu ebqghklb\hijhkh lhfdZdbfiml_fwlbq_jlu\hagbdZxlfghcg_jZkkfZljb\ZekyHkh[_ggh qZklh \klj_qZ_lky ZgZgdZklbq_kdbc oh^ jZa\blby aZ[he_\Zgby bihohg^jbq_kdh]h lbiZ ijb dhlhjhf\ dZjlbg_[he_agbij_h[eZ^Zxlqj_af_jgu_hiZk_gbyh k\h_fkhklhygbba^hjh\vy Gb`_ hibkZgu ^\Z kemqZy bihohg^jbq_kdh]h g_\jhaZ I_j\uc ba gbo gZ[ex^Zeky m [hevgh]hdhlhjuchlebqZeky\ujZ`_ggufbi_^Zglbq_kdbfbq_jlZfboZjZdl_jZd lhfm`_fh] [ulvhij_^_e_gdZdZgZgdZkl =_j[_jl N ] jh`^ \ kj_^g_c rdhe_ \k_]^Z ohjhrh mqbeky M`_ j_[_gdhf hg k ljm^hf \klmiZe \ dhglZdl k ^jm]bfb rdhevgbdZfb [ue g_m\_j_g \ k_[_ aZlhjfh`_g <k_]^Z kljZ^Zeij_^wdaZf_gZpbhgghcebohjZ^dhc<hh[s_\ rdhe__]h\k_]^ZhlebqZeZjh[hklvLZdbf hklZekyb ihhdhgqZgbbrdheuG_kijZ\_^eb\u_aZf_qZgby\hkijbgbfZ_l\_kvfZ[he_ag_ggh\ lh`_\j_fyg_mf__lihklhylvaZk_[y©: fh`_l[ulv\k_`_\ q_flh\bgh\Zl"ª²^mfZ_lN\ lZdbokemqZyo?]hg_evaygZa\Zlvq_klhex[b\ufhkgh\gh__]hklj_fe_gb_²qlh[ugbdlhg_ gZr_eg_^hq_lh\\ \uiheg_gghcbfjZ[hl_Ng_kihkh[_ghlh]gZlvhlk_[yfukebh ©iehohfª kdehg_g d kZfhdhiZgbx < jZ[hl_ ZddmjZl_g bkihegbl_e_g _keb ijboh^blky ij_ju\Zlv ljm^h\hc ijhp_kk g_ ^h\_^y _]h ^h dhgpZ N hq_gv g_j\gbqZ_l QZklh ihwlhfm moh^bl ^hfhc iha`_hklZevguokhljm^gbdh\IhklhygghfmqZ_lkykhfg_gbyfb\k_ebhgk^_eZedZdke_^m_l g_h^ghdjZlghijh\_jy_lk_[y>hfZijh\_jy_l]Zah\u_djZgu\udexqZl_ebDZdlhihke_hq_gv ^mrgh]h ^gy ² wlh [ueh \ ] ² N gbdZd g_ fh] aZkgmlv _fm g_ o\ZlZeh \ha^moZª hg qm\kl\h\Ze [hev \ h[eZklb k_j^pZ _]h ebohjZ^beh l_fi_jZlmjZ [ueZ <jZq ^Ze N [hevgbqguc ebkl k ^bZ]ghahf ©]jbiiª b q_j_a g_kdhevdh ^g_c \uibkZe _]h gZ jZ[hlm ij_^eh`beh^gZdhk^_eZlvgZ\kydbckemqZcwe_dljhdZj^bh]jZffmNwlhkbevghh[_kihdhbeh hg g_hlklmigh ^mfZe ©Iehoh ^_eh qlhlh ijhbkoh^bl k k_j^p_fª M g_]h h[gZjm`beb ih\ur_ggh_Zjl_jbZevgh_^Z\e_gb_gZagZqbebeZ[hjZlhjgu_bkke_^h\Zgby<jZqh[jhgbenjZam h ©ihjhd_ k_j^pZª H[ke_^m_fuc [ue ihljyk_g ©Wlh hdZaZehkv m`Zkguf m^Zjhf ijyfh dZlZkljhnhc y ihgye qlh fhy `bagv \bkbl gZ \hehkd_ª ;hev mkm]m[eyeZkv \k_ [hevr_ qm\kl\h\ZeZkvkl_kg_gghklv^uoZgby©Wlhdhg_pª²^mfZeNH^gZ`^udh]^Z_fmihdZaZehkv qlhk_j^p_k`Zehkv\ ihke_^g_ckm^hjh]_hgk ^bdbf\hie_f\kdhqbek ihkl_ebBkke_^h\Zgby ijh^he`Zebkvohlyhj]Zgbq_kdbobaf_g_gbck_j^pZmklZgh\blvlZdb g_m^Zehkv< ]N ijbr_e gZ ijb_f \ gZr_ ikbohl_jZi_\lbq_kdh_ hl^_e_gb_ \ ly`_ehf khklhygbb _]h ij_ke_^h\Zeb fukeb h [ebadhc kf_jlb ?fm [ueh gZagZq_gh ikbohl_jZi_\lbq_kdh_ e_q_gb_ JZatykgyxsbfb [_k_^Zfb m^Zehkv ij_j\Zlv ©kZfhdhiZgb_ª N L_jZiby aZdexqZeZkv \ hj]ZgbaZpbb hl\e_q_gbb b gZ]jmahd < j_amevlZl_ [hevgh]h m^Zehkv ba[Z\blv hl kljZoZ i_j_^ [he_agvx Fu gZmqbeb _]h lZd`_ ijZ\beZf ih\_^_gby gZ [m^ms__ dZd _fm [hjhlvky k gZ\yaqb\ufbfukeyfbh kf_jl_evghfaZ[he_\ZgbbKZfhckdehgghklbd ih^h[guffukeyfgZf ebd\b^bjh\Zlvg_m^ZehkvIjbih\lhjghfh[ke_^h\ZgbbNhlf_q_ghghjfZevgh_kZfhqm\kl\b_ M ke_^mxs_]h h[ke_^m_fh]h ZgZgdZklbq_kdb_ ijhy\e_gby agZqbl_evgh f_g__ aZf_lgu A^_kv\b^bfhgm`gh]h\hjblvg_h ikbohiZlbbZ ebrvh[Zdp_glmZpbbebqghklb Jhevn=]jh`^\hkiblu\Zekyhq_gvkljh]bfimgdlmZevgufhlphfHq_\b^ghhl_p h[eZ^Ze i_^Zglbq_kdbfb q_jlZfb oZjZdl_jZ = mqbeky ohjhrh ih hdhgqZgbb rdheu klZe lhj]h\p_f<kydmxjZ[hlm=\uihegy_l^h[jhkh\_klghb ZddmjZlghIjbfZe_cr_cg_lhqghklb \ [ZeZgk_lhj]h\h]hij_^ijbylbyhgf_klZk_[_g_gZoh^blihdZg_h[gZjm`bl\ [mo]Zel_jkdbo dgb]Zo hrb[dm Hg ihklhyggh ijh\_jy_l \k_ k^_eZggh_ \ha\jZsZ_lky ijh\_jblv aZi_jl eb ]ZjZ`\udexq_guebnZju>hfZwlh]h^_eZlvg_ijboh^blkya^_kv_]hhl_p\k_ijh\_jy_l©hl m]hevdZ\ hqZ]_^hq_j^Zqgh]hhdhrdZªGh=b kZf\h\k_fkljh]hkh[ex^Z_lihjy^hd©?keb ghqvx kemqblky jZa[m^yl y ^he`_g hsmivx \ l_fghl_ gZclb \k_ gm`gh_ª = ^he]h jZa^mfu\Z_li_j_^ex[ufj_r_gb_f< ]=[uejZg_g\ kibgmZ k]m g_]hqZklh hlf_qZeZkv [hev \ dj_klp_ \ijhq_f hg g_ qm\kl\h\Ze k_[y k_jv_agh [hevguf Gh [hev ijh^he`ZeZkv b \ ] = j_rbe ijhdhgkmevlbjh\Zlvky m \jZqZ dhlhjuc gZijZ\be _]h gZ j_gl]_gheh]bq_kdh_bkke_^h\Zgb_b gZagZqbe\h^he_q_gb_\Zggu;hevb ihke_dmjkZe_q_gby g_ ij_djZsZeZkv <hl lh]^Z = bkim]Zeky ©Qlh `_ wlh fh`_l [ulv" ² kijZrb\Ze y k_[y Y ^mfZe qlh \_jhylgh ijb jZg_gbb hdZaZeky jZafha`_gguf dZdhclh g_j\ qlh wlh ijb\_^_l d iZjZebqmªBgl_gkb\ghklv`Zeh[b hiZk_gbc\ ihke_^mxsb_]h^ubaf_gyeZkvghg_^hfh]Zgb_ g_ hklZ\eyeh = < ] hg [ue hij_^_e_g \ [hevgbpm b h^gh\j_f_ggh gZijZ\e_g gZ Zmlh]_ggmxlj_gbjh\dmhdZaZ\rmxky[_amki_rghcIha`_[ueZij_^ijbgylZl_jZibykghfgh lZd`_[_aj_amevlZlghkdhj__gZklmibeh^Z`_mom^r_gb_GZkhklhygb_[hevgh]hih\ebye_s_b ikboh]_ggucnZdlhj _]h khk_^hf \ iZeZl_ hdZaZeky iZjZebah\Zgguc [hevghc dhlhjuc \kdhj_ mf_jghg_aZ^he]h^hkf_jlbhgjZkkdZau\Zeqlhm g_]hlh`_©\k_gZqZehkvk [heb\ kibg_ª< ihke_^mxsb_ ]h^u = ijh^he`Ze e_qblvky Dh]^Z \jZqb ijb hkfhlj_ g_ h[gZjm`b\Zeb ih\h^Z ^eyhiZk_gbcwlhg_mkihdZb\Zeh_]h©Y [uem\_j_gqlhy [_agZ^_`_gihwlhfmhgbgbq_]hfg_ g_]h\hjylªF_`^ml_f[hevjZkijhkljZgyeZkvih\k_fml_em<hlijbf_jguci_j_q_gv`Zeh[ dhlhju_ fu mkeurZeb \h \j_fy ijb_fZ [hevgh]h \ gZr_c debgbd_ ©;hev y hsmsZx f_`^m ehiZldZfbhgZlyg_lky^hkZfhc]heh\u^hijZ\h]h]eZaZZ bgh]^Zb ^hijZ\hciheh\bgughkZ Y qm\kl\mx ``_gb_ ihlhf gZklmiZ_l ihegZy h^_j_\_g_ehklv KibgZ [hebl \^hev \k_]h iha\hghqgbdZy dZd[u\h\k_l_jyxhihjm;hev\ dj_klp_i_j_oh^bl\ ijZ\h_[_^jh\kyijZ\Zy jmdZhlie_qZlh`_[heblHk_gvxb abfhcm f_gyhsms_gb_oheh^Zb \eZ`ghklb\ gh]Zolhqgh m f_gy fhdju_ dZevkhgu K_j^p_" >Z k_j^p_ lh`_ [hebl Bgh]^Z lZdh_ qm\kl\h keh\gh _]h ijbs_fbeb beb hl^Z\bebª ;hev \h \k_f l_e_ ihke_ e_q_gby mlboeZ ih^ ^_ckl\b_f hl\e_dZxs_]hb gZ]jmahqgh]he_q_gbyHklZeZkvebrvg_agZqbl_evgZy[hev\ dj_klp_\_jhylgh ^_ckl\bl_evgh k\yaZggZy k i_j_g_k_gguf jZg_gb_f \ijhq_f hgZ fZeZ [_kihdhbeZ h[ke_^m_fh]h=hklZ\Zekya^hjh\uf^h]< wlhf]h^mm g_]h[ueZhkh[_gghgZijy`_ggZy jZ[hlZ\ k\yabk q_fmkbebeZkv[hev\ dj_klp_Z \ke_^aZg_c\gh\vgZqZeky[he_ag_gguckljZo dhlhjuck ihfhsvxikbohl_jZi_\lbq_kdh]he_q_gbym^ZehkvgZk_cjZa[ukljhebd\b^bjh\Zlv G_kfhljy gZ lh qlh = kljZ^Ze g_\jhahf fgh]h e_l fu g_ fh`_f dhgklZlbjh\Zlv \ wlhf kemqZ_ZghfZebxebqghklb< k\yabk kbkl_fZlbq_kdbih\lhjyxsbfbky\jZq_[gufbhkfhljZfb b gZagZq_gb_f\k_\hafh`gh]he_q_gbydZkZ\r_]hkyd kh`Ze_gbxlhevdhnbabq_kdhcklhjhgu aZ[he_\Zgby h[ke_^m_fuc gZoh^beky \ khklhygbb ihklhyggh]h [_kihdhckl\Z Klhbeh Znn_dlm kljZoZohlvg_fgh]hkgbablvkydZd\ ^Zgghch[klZgh\d_hg\hagbdZe\gh\vb \gh\vIjboh^blky d \_ebdhfm h]hjq_gbx ijbagZlv qlh \jZq_[gu_ f_jhijbylby g_ mqblu\Zxsb_ ikbobq_kdh]h khklhygby iZpb_glZ kihkh[gu \ua\Zlv [he__ lh]h ih^^_j`b\Zlv _]h g_\jhlbq_kdb_ j_Zdpbb >h aZ[he_\Zgby b ^h\hevgh ^he]h \h \j_fy g_]h = [ue \_kvfZ iheh`bl_evguf ^_eh\uf q_eh\_dhf dhlhjuc \u]h^gh hlebqZeky ih kdeZ^m oZjZdl_jZ hl jy^Z ^jm]bo \eZ^_evp_\ lhj]h\uoij_^ijbylbc;hev\ dj_klp_dhlhjZyh[t_dlb\ghbf_eZf_klhi_j\hgZqZevghhlgx^v g_ \uau\ZeZ m g_]h j_Zdpbc g_\jhlbdZ wlZ [hev ijh^he`ZeZkv g_kdhevdh e_l ij_`^_ q_f hg gZdhg_p h[jZlbeky d \jZqm Hkh[uc bgl_j_k ij_^klZ\ey_l lh qlh h[ke_^m_fuc `Zeh\Zeky gZ fgh`_kl\_gghklv [he_\uo hsms_gbc \uoh^b\rbo ^Ze_dh aZ ij_^_eu i_j\hgZqZevghc ehdZebaZpbb Ke_^m_l hlf_lblv qlh _keb q_eh\_d ² \ k\yab kh kljZohf [he_agb ² g_ lhevdh khh[sZ_l h g_hij_^_e_gguo khfZlbq_kdbo kbfilhfZo gh b `Zem_lky gZ dhgdj_lgu_ q_ldh ehdZebah\Zg gu_ g_ijbylgu_ hsms_gby ² wlh m`_ k\b^_l_evkl\m_l h ij_^jZkiheh`_gbb d g_\jhlbq_kdhfmjZa\blbx<hagbdZxl g_ ©b^_hbihohg^jbq_kdb_ª khklhygby dZd y ij_^ eZ]Zx bo gZau\Zlv b ©k_gkhbihohg^jbq_kdb_ª ijb dhlhjuo ih y\eyxlky g_ lhevdh [he_ag_ggu_ hiZk_gby gh b y\kl\_ggu_ [h e_ag_ggu_ hsms_gby [_a dhgdj_lghc l_e_kghc hkgh\u Ijb ih^h[ghf ij_^jZkiheh`_gbb hiZkghklv g_\jhlbq_kdh]h jZa\blby \hajZklZ_l lZd dZd [hev \hkijbgbfZ_lkydZdih^l\_j`^_gb_hj]Zgbq_kdh]haZ[he_\Zgby?kebfhf_glhiZk_gbckljZoZ i_j_^[he_agvxhlkmlkl\m_llhhibku\Z_fh_ij_^jZkiheh`_gb_g_ijhy\ey_lkyke_^h\Zl_evgh \ g_f g_l gbq_]h iZlheh]bq_kdh]h M = \ gZqZevghc klZ^bb g_\jhaZ ij_^jZkiheh`_gb_ d g_\jhlb q_kdhfm jZa\blbx g_ ijhy\beh k_[y gbq_f B ebrv kh\iZ^_gb_ lZdbo nZdlhjh\ dZd g_j\gh_ b nbabq_kdh_ i_j_mlhfe_gb_ b \u jZ`_ggu_ q_jlu ebqghklb i_^Zglbq_kdh]h lbiZ \ua\Zebg_\jhaZ \ke_^aZgbfb jZa\_l\e_ggu_[he_\u_hsms_gbyBihohg^jbq_kdbcg_\jhag_ \k_]^Ze_]dhhlebqbfhlg_\jhaZgZ\yaqb\uokhklhygbcEx^bkljZ^Zxsb_dZj^bhnh[b_cl_ [he_ag_gghc fgbl_evghklvx \ hlghr_gbb aZ[he_\Zgbc k_j^pZ fh]ml h^gh\j_f_ggh [hylvky \uoh^blvgZmebpmhiZkZykvqlhbf_gghlZfijhbahc^_lbgnZjdlLZdZynh[bykblmZpbb²hgZ lZd`_ ^he`gZ [ulv hlg_k_gZ d g_\jhaZf gZ\yaqb\uo khklhy gbc ² _klv g_ qlh bgh_ dZd ke_^kl\b_ ghahnh[bb l _ bihohg ^jbq_kdhc fgbl_evghklb < ^jm]bo `_ kemqZyo wlh \hh[s_ kljZo i_j_^ q_flh jhdh\uf b aeh\_sbf gh hg g_ kh^_j`bl ij_^klZ\ e_gbc h dhgdj_lghf aZ[he_\Zgbbk\h_]hkh[kl\_ggh]hhj]ZgbafZ AZklj_\Zxsb_ebqghklb Hkgh\hc aZklj_\Zxs_]h iZjZghbq_kdh]h lbiZ Zdp_glmZpbb ebqghklb y\ey_lky iZlheh]bq_kdZy klhcdhklv Znn_dlZ Qm\kl\Z kihkh[gu_ \uau\Zlv kbevgu_ j_Zdpbb h[uqgh b^mlgZm[uevihke_lh]hdZdj_Zdpbyf©^Zlv\hexª]g_\m jZa]g_\Zggh]hq_eh\_dZ]Zkg_l_keb fh`gh gZdZaZlv lh]h dlh jZkk_j^be beb h[b^_e _]h kljZo m [hyaeb\h]h ijhoh^bl _keb mkljZgblvbklhqgbdkljZoZ< l_okemqZyodh]^ZZ^_d\ZlgZyj_Zdpbyihq_fmeb[hg_khklhyeZkv Znn_dl ij_djZsZ_lky agZqbl_evgh f_^e_gg__ gh \k_ `_ _keb bg^b\b^mmf fuke_ggh h[jZsZ_lky d ^jm]bf l_fZf lh \ ghjf_ Znn_dl q_j_a g_dhlhjh_ \j_fy ijhoh^bl >Z`_ _keb jZa]g_\Zggucq_eh\_dg_kfh]hlj_Z]bjh\ZlvgZg_ijbylgmxkblmZpbxgb keh\hfgb ^_ehflh l_f g_ f_g__ g_ bkdexq_gh qlh m`_ gZ ke_^mxsbc ^_gv hg g_ hsmlbl kbevgh]h jZa^jZ`_gby ijhlb\h[b^qbdZ[hyaeb\ucq_eh\_ddhlhjhfmg_m^Zehkvmclbhl\gmrZxs_ckljZokblmZpbb \k_ `_ qm\kl\m_l k_[y q_j_a g_dhlhjh_ \j_fy hk\h[h`^_gguf hl kljZoZ M aZklj_\Zxs_c ebqghklb dZjlbgZ bgZy ^_ckl\b_ Znn_dlZ ij_djZsZ_lky ]hjZa^h f_^e_gg__ b klhbl ebrv \_jgmlvkyfukevxd kemqb\r_fmkydZdg_f_^e_gghh`b\Zxlb khijh\h`^Z\rb_klj_kkwfhpbb :nn_dlm lZdhcebqghklb^_j`blkyhq_gv^he]h_\j_fyohlygbdZdb_gh\u_i_j_`b\Zgby_]hg_ Zdlb\babjmxlDZdm`_]h\hjbehkviZlheh]bq_kdbfihke_^_ckl\b_fqj_\Zlu\ i_j\mxhq_j_^v w]hbklbq_kdb_ Znn_dlu lZd dZd bf_ggh bf ijbkmsZ hkh[Zy kbeZ <hl ihq_fm aZklj_\Zgb_ Znn_dlZgZb[he__yjdhijhy\ey_lkylh]^Zdh]^ZaZljhgmluebqgu_bgl_j_kuZdp_glmbjh\Zgghc ebqghklb :nn_dl \ wlbo kemqZyo hdZau\Z_lky hl\_lhf gZ mya\e_ggmx ]hj^hklv gZ aZ^_lh_ kZfhex[b_Z lZd`_gZjZaebqgu_nhjfuih^Z\e_gbyohlyh[t_dlb\ghfhjZevghcms_j[fh`_l [ulv gbqlh`guf Hkdhj[e_gb_ ebqguo bgl_j_kh\ dZd ijZ\beh gbdh]^Z g_ aZ[u\Z_lky aZklj_\Zxsbfb ebqghklyfb ihwlhfm bo qZklh oZjZdl_jbamxl dZd aehiZfylguo beb fklbl_evguo ex^_c Djhf_ lh]h bo gZau\Zxl qm\kl\bl_evgufb [he_ag_ggh h[b^qb\ufb e_]dhmya\bfufbex^vfbH[b^u\ lZdbokemqZyo\ i_j\mxhq_j_^vdZkZxlkykZfhex[bykn_ju aZ^_lhc]hj^hklbq_klbH^gZdhb ms_j[gZghkbfucbgl_j_kZf^jm]h]hieZgZgZijbf_j`Z`^_ fZl_jbZevguo [eZ] kljZklb d ijbh[j_lZl_evkl\m lZd`_ [he_ag_ggh \hkijbgbfZ_lky ex^vfb dhlhju_ hlebqZxlky qj_af_jghc klhcdhklvx Znn_dlZ Qm\kl\h \hafms_gby h[s_kl\_gghc g_kijZ\_^eb\hklvx m ebqghklb aZklj_\Zxs_]h lbiZ gZ[ex^Z_lky \ [he__ keZ[hc kl_i_gb q_f Znn_dlugZmjh\g_w]hbklbq_kdboih[m`^_gbcB _kebkj_^bij_^klZ\bl_e_c^Zggh]hlbiZ\k_ `_\klj_qZxlkybgh]^Z[hjpuaZ]jZ`^ZgkdmxkijZ\_^eb\hklvlhebrv\ lhcf_j_\ dZdhcwlb ex^bhlklZb\Zxlh^gh\j_f_gghkijZ\_^eb\hklv\ hlghr_gbbk_[yh[h[s_gb_fhgbklZjZxlky ijb^Zlv[hevr_\_kZk\hbfebqgufij_l_gabyfQ_jluaZklj_\ZgbykdZau\Zxlkyg_lhevdhijb gZg_k_gbb ms_j[Z Zdp_glmbjh\Zgghc ebqghklb gh b \ kemqZ_ __ mki_oZ A^_kv fu qZklh gZ[ex^Z_f ijhy\e_gby aZghkqb\hklb kZfhgZ^_ygghklb Q_klhex[b_ ² hkh[_ggh oZjZdl_jgZy yjdZy q_jlZ m ebp k qj_af_jghc klhcdhklvx Znn_dlZ q_klhex[b_ khijh\h`^Z_lky kZfhm\_j_gghklvxZ ihhsj_gbclZdbfex^yf\k_]^Z[u\Z_lfZeh Ihkdhevdm ihf_ob w]hbklbq_kdbf p_e_mklj_fe_gbyf bkoh^yl hl hdjm`Zxsbo ex^_c lh ijb \ukhdhc kl_i_gb aZklj_\Zgby l _ m ebqghkl_c iZjZghbq_kdh]h lbiZ gZ[ex^Z_lky lZdZy oZjZdl_jgZy q_jlZ dZd ih^hajbl_evghklv Q_eh\_d [he_ag_ggh qm\kl\bl_evguc ihklhyggh kljZ^Zxsbchlfgbfh]h©iehoh]hhlghr_gbyªd k_[_lhqghlZd`_l_jy_l^h\_jb_d ex^yfdZd b q_eh\_d g_^h\_jb_ dhlhjh]h h[t_dlb\gh h[hkgh\Zggh <_^v ih^hajbl_evghklv \iheg_ h[hkgh\ZggZ gZijbf_j m j_\gb\pZ dhlhjh]h ^_ckl\bl_evgh h[fZgu\Zxl Gh \ lh \j_fy dZd hijZ\^ZggZyih^hajbl_evghklvg_b^_l^Zevr_^Zggh]hkemqZyih^hajbl_evghklvaZklj_\Zxs_c ebqghklb ghkbl \k_ho\Zlu\Zxsbc oZjZdl_j ihkdhevdm [he_ag_ggZy ih^hajbl_evghklv ihjh`^Z_lky g_ hij_^_e_ggufb \g_rgbfb h[klhyl_evkl\Zfb Z dhj_gblky \ ikbobd_ kZfhc ebqghklb Ihwlhfm h ih^hajbl_evghklb dZd k\hckl\_ ikbobdb fh`gh ]h\hjblv lhevdh ijb gZebqbbh[s_cgZkljh_gghklbg_^h\_jbyjZkijhkljZgyxs_ckygZex[u_h[eZklbb hlghr_gby Ih\lhj_gb_ g_kdhevdbo h^ghlbiguo kemqZ_\ fh`_l ihkem`blv lheqdhf d gZqZem iZjZghbq_kdh]h jZa\blby gh h[tykgylv ihke_^g__ lhevdh kmffbjh\Zgb_f ih^h[guo kemqZ_\ [ueh [u g_\_jgh ?keb dZdh_lh ebph ihklhyggh qm\kl\m_l k_[y fbr_gvx ^ey h[b^guo aZf_qZgbc ^himklbf kh klhjhgu k\h_]h gZqZevgbdZ lh k h^ghc klhjhgu [m^_l ihklhyggh jZklb g_gZ\bklv d wlhfm q_eh\_dm Z k ^jm]hc ² ihy\blky ijblmie_gb_ j_Zdpbc gZ kbkl_fZlbq_kdb^_ckl\mxsbcjZa^jZ`bl_evl_ijhbahc^_lihkl_i_ggh_hkeZ[e_gb_Znn_dlZ LZdhc j_amevlZl gZ[ex^Z_lky h[uqgh \ l_o kemqZyo dh]^Z \klmiblv \ [hjv[m k h[b^qbdhf g_\hafh`gh gh iZjZghbq_kdh]h jZa\blby lZdb_ kblmZpbb g_ ^Zxl Ihklhyggh_ gZjZklZgb_ Znn_dlZ \uau\Z_lky ihy\e_gb_f hibkZggh]h \ur_ ^ebl_evgh]h q_j_^h\Zgby mki_oh\ b ijh\Zeh\Ij_^klZ\bfk_[_qlh_klv\hafh`ghklv^he`gufh[jZahfijhj_Z]bjh\ZlvgZh[b^m h^gZdhmki_owlhl[m^_lebrvqZklbqguflZddZd\kdhj_aZgbf\gh\vihke_^m_lgh\uc\uiZ^ khklhjhguh[b^qbdZLZdZyg_ij_ju\gZykf_gZm^h\e_l\hj_gbbb gh\uoihjZ`_gbcb \_^_l d \hagbdgh\_gbx iZjZghbq_kdh]h Znn_dlZ Ih^h[gh_ jZa\blb_ fh`_l bf_lv f_klh ² ijb hibkZgguo ij_^ihkuedZo ² ^Z`_ m ebp g_ hlebqZxsboky aZklj_\Z_fhklvx Znn_dlh\ QZklh \klj_qZ_lky lZdh_ iheh`_gb_ \ [ulm kdZ`_f \ ©[hjv[_ª g_\_kldb kh k\_djh\vx \hafh`gh jZa\blb_ j_Zdpbc lbibqgh iZjZghbq_kdbo Ijb wlhf kZf Znn_dl [u\Z_l g_baf_jbfh kbevg__ q_f \ua\Z\rbc _]h ih\h^ Hkh[_ggh \_ebdZ hiZkghklv lh]^Z dh]^Z \ \ur_hibkZggh_ ©jZkdZqb\Zgb_ª \h\e_dZxlky Znn_dlu h[eZ^Zxsb_ l_g^_gpb_c d klhcdhklb < wlhf kemqZ_ lheqhd \ h[jZlgmx klhjhgm g_ ^Z_l ^hklZlhqgh]h kgb`_gby kbeu Znn_dlZ :nn_dlu ^hklb]Zxsb_ [hevrhc kbeu b h[gZjm`b\Zxsb_ l_g^_gpbx d aZklj_\Zgbx ihkl_i_ggh \k_ [hevr_ ih]ehsZxl fukeb [hevgh]h qlh ijb\h^bl d \hagbdgh\_gbx k\_jop_gguo beb ^Z`_ [j_^h\uoiZjZghbq_kdbob^_c<g_h[eZklbikbobZljbblZdh]hjh^ZjZa\blbyihqlb[j_^h\h]h ihjy^dZfugZ[ex^Z_f\ i_j\mxhq_j_^v\ k\yabk j_\ghklvx< h[eZklbwjhlbdb[hevr_q_f \h \k_o ^jm]bo q_eh\_d ihklhyggh dhe_[e_lky f_`^m gZ^_`^hc b hiZk_gbyfb \ kbem q_]h Znn_dl \k_ mkbeb\Z_lky Wlh mkm]m[ey_lky l_f qlh ex[h\gu_ ijhy\e_gby h[uqgh ^_j`Zl \ lZcg_lZdqlhkm^blvh lhf_klvebbaf_gZbebg_l[u\Z_laZljm^gbl_evgh>h[Z\bfd wlhfm qlh dhd_leb\u_ `_gsbgu g_j_^dh ki_pbZevgh ^jZagyl iZjlg_jZ ^\hckl\_gguf ih\_^_gb_f qlh[u hg l_jaZeky j_\ghklvx b[h ba\_klgh qlh k j_\ghklvx mkbeb\Z_lky ex[h\v Ijb lZdhc kf_g_ qm\kl\ kljZ^Zgb_ hl fukeb h \hafh`ghc g_\_jghklb ex[bfhc ^hklb]Z_l Zih]_y gh _fm lml`_ijhlb\hklhblaZo\Zlu\Zxs__hsms_gb_kqZklvyk\yaZggh_k gZ^_`^hcqlhfh`_l[ulv hgZ\k_lZdb\_jgZ< ^jm]hcjZ[hl_FhQDWVFKUI.ULPLQRORJLH V y ^_lZevgh hibkZe wlhl ijhp_kk dhlhjuc \_^_l d ©ex[\b bkiheg_gghc g_gZ\bklbª J_\ghklv fh`_l ho\Zlblv g_ lhevdh fm`qbgm gh b `_gsbgm IjZ\^Z j_\ghklv `_gsbgu h[uqgh g_ ^hoh^bl ^h klhev hiZkguonbgZeh\dZdm fm`qbglZddZdihke_^gb_\hkijbgbfZxlnZdlqlhbo©ij_^Zebªg_ lhevdhwjhlbq_kdbM gbo\ ]hjZa^h[hevr_cf_j_q_fm `_gsbgkljZ^Z_lkZfhex[b_Djhf_ wjhlbq_kdhc kn_ju q_eh\_dZ fh]ml ©jZa^bjZlv gZ qZklbª lZd`_ km^_[gu_ ly`[u Hgb [_a`Zehklgh\ufZlu\Zxlkmly]mdhlhjucdZd[ujZkdZqb\Z_lkylhih^gbfZykvgZ\_jrbgmlh klj_fbl_evgh iZ^Zy \gba < dhg_qghf blh]_ Znn_dl ^hklb]Z_l gZb\ukr_c lhqdb b gZklhevdh h\eZ^_\Z_l fukeyfb qlh ^ey [eZ]hjZamfby m`_ g_ hklZ_lky f_klZ <_^v ©imlvª ly`[u mk_yg kbevgufb Znn_dlZfb Z q_eh\_d ihklhyggh gZoh^blky \h \eZklb ijhlb\hj_qb\uo mfhaZdexq_gbc lh hg \ hlqZygbb qlh ijhb]jZ_l ijhp_kk lh ihehg gZ^_`^u qlh \k_ `_ \ub]jZ_l >Z`_ _keb ^_eh g_ ^hoh^bl ^h ih^h[guo djZcghkl_c lh iZjZghbq_kdb gZkljh_gguc q_eh\_dfh`_lijhklhmi_j_lvkykqblZyk_[yijZ\ufohlynZdluk\b^_l_evkl\mxlh[h[jZlghf < lZdbo kemqZyo fu bf__f ^_eh k bg^b\b^mmfhf g_k]h\hjqb\uf g_ l_jiysbf gb \ q_f \hajZ`_gbc mijyfh gZklZb\Zxsbf gZ k\h_f Ij_h[eZ^Zxsb_ q_jlu g_k]h\hjqb\hklb qZklh ijhy\eyxlky m ex^_c b \ [ulm Ijb wdkiZgkb\ghiZjZghbq_kdhf jZa\blbb aZ[he_\Zgby gZ i_j_^g_f ieZg_ lZd`_ klhbl Znn_dl >ey q_eh\_dZ dhlhjuc ihklZ\be i_j_^ kh[hc [hevrmx p_evb dhlhjh]hihklhyggh©rZlZ_lªf_`^mmki_ohfb nbZkdhm`_kZfZp_evgZqbgZ_llZblv\ k_[_ fZ]bq_kdmx ijb\e_dZl_evghklv g_ l_jiysmx h[t_dlb\ghc djblbq_kdhc hp_gdb < oh^_ jZa\blbylZdh]hikbohaZq_eh\_dgZijbf_jfh`_l\hahfgblvk_[ydjmigufbah[j_lZl_e_fohly h[t_dlb\gh h[ wlhf gbqlh g_ k\b^_l_evkl\m_l LZd dZd ih^h[gu_ jZ^m`gu_ hsms_gby h[gZjm`b\Zxl l_g^_gpbx d klhcdhklb b[h q_eh\_d \hh[s_ hohlgh ih]jm`Z_lky \ hilbfbklbq_kdb_ ]j_au lh wdkiZgkb\gh]h imlb jZa\blby Zdp_glmZpbb ke_^h\Zeh [u h`b^Zlv qZs_q_fi_jk_dmlhjgh]h[j_^Zij_ke_^h\ZgbyH^gZdhijbi_j_\_k_jZ^m`guoqm\kl\j_adh kgb`Z_lky Zdlb\ghklv g_h[oh^bfZy ^ey ihklhyggh]h ih^^_j`Zgby hibkZgguo iZ^_gbc b \ae_lh\Z bokf_gZb _klvhkgh\ghcf_oZgbafiZlheh]bq_kdh]hjZa\blbyB^_b\hagbdZxsb_\ j_amevlZl_ iZjZghbq_kdh]h jZa\blby qZklh g_ ghkyl [j_^h\h]h oZjZdl_jZ h^gZdh hgb ^he`gu [ulv hlg_k_gu d k\_jop_gguf gZa\Zgb_ ij_^eh`_gh <_jgbd_ l _ \k_p_eh h\eZ^_\Zxsbfb fure_gb_f q_eh\_dZ GZijbf_j q_eh\_d ^h lZdhc kl_i_gb fh`_l [ulv aZo\Zq_g fukeyfb h k\h_cms_j[ghklbdhlhju_ihy\bebkvm g_]hgZihq\_j_\ghklbbebk\h_cb^__c]jZg^bhaguo ^hklb`_gbc qlh \k_ ^jm]b_ bgl_j_ku b p_eb ^ey g_]h g_ kms_kl\mxl < wlhf ih\_^_gbb \uy\ey_lky lZdZy oZjZdl_jgZy q_jlZ dZd l\_j^heh[hklv iZjZghbq_kdhc ebqghklb GZ ijhp_kk_ ikbobq_kdh]h jZa\blby wlbo khklhygbc fu m`_ hklZgh\bebkv hibku\Zy Zdp_glmbjh\Zgguo ebqghkl_c ZgZgdZklbq_kdh]h lbiZ M ihke_^gbo gZijbf_j fukeb h k\h_f ly`dhf g_^m]_ beb gZ\yaqb\h_ij_^klZ\e_gb_qlhg_qlh\Z`gh_mims_gh²ihkmlbl_`_k\_jop_ggu_b^_bohly ikbobZlju bo lZd b g_ gZau\Zxl Koh^kl\h iZjZghbq_kdh]h b ZgZgdZklbq_kdh]h jZa\blby _s_ [hevr_[jhkZ_lky\ ]eZaZ\ l_okemqZyodh]^Zm aZklj_\Zxsboebqghkl_cihl_gpbjm_lkykljZo KljZo fh`_l e_`Zlv \ hkgh\_ dZd ZgZgdZklbq_kdh]h lZd b iZjZghbq_kdh]h jZa\blby Ijb dhe_[Zgbyo f_`^m gZ^_`^hc \ua^hjh\_lv b hiZk_gb_f mf_j_lv kljZo \ [hevr_c beb f_gvr_c f_j_ h\eZ^_\Z_l b aZklj_\Zxsbfb ebqghklyfb < j_amevlZl_ ² dZjlbgZ bihohg^jbq_kdh]h jZa\blby ijhl_dZ_l m Zdp_glmbjh\Zgguo ebqghkl_c b i_^Zglbq_kdh]h b aZklj_\Zxs_]h lbiZ ijbf_jgh h^bgZdh\h ohly m ihke_^gbo hgZ \klj_qZ_lky agZqbl_evgh j_`_ AZklj_\Zxsbc lbi ebqghklbbgl_j_k_gl_fqlhhg\ jZ\ghcf_j_lZbl\ k_[_\hafh`ghklvdZdiheh`bl_evgh]hlZd b hljbpZl_evgh]hjZa\blbyoZjZdl_jZDZdba\_klghq_eh\_debrv\ lhfkemqZ_fh`_l^h[blvky m\Z`_gby b Z\lhjbl_lZ _keb hg \ q_flh ^hklb]Z_l iheh`bl_evguo j_amevlZlh\ \u^_eyykv gZ nhg_ ^jm]bo Ihwlhfm \kydbc q_klhex[b\_c klj_fblky ^hklbqv \ukhdbo ihdZaZl_e_c \ ex[hf \b^_^_yl_evghklbBkl_jbdb\ijhq_ffh]mlh[hclbkvb [_awlh]hhgbqZklh[u\Zxl^h\hevgu kh[hc [_a \b^bfhc ijbqbgu H[tykg_gb_ ijhklh_ iml_f \ul_kg_gbb bkl_jbdb fh]ml km[t_dlb\gh ijh^_fhgkljbjh\Zlv lhl ij_klb` dhlhjuf h[t_dlb\gh \h\k_ g_ h[eZ^Zxl IZjZghcyevgu_ ebqghklb g_ h[eZ^Zy kdehgghklvx d kZfh\gmr_gbx ^he`gu aZ\h_\Zlv j_Zevgh_ ijbagZgb_ ^jm]bo ex^_c qlh[u bf_lv hkgh\Zgby ]hj^blvky kh[hc LZdbf h[jZahf q_klhex[b_fh`_lklZlv\Z`ghc^\b`ms_ckbehcgZimlbd hlebqgufljm^h\ufbebl\hjq_kdbf ihdZaZl_eyf Gh q_klhex[b_ fh`_l hdZaZlvky b hljbpZl_evguf nZdlhjhf gZijbf_j dh]^Z q_klhex[_p[_kp_j_fhgghih^Z\ey_lb hll_kgy_lk\h_]hdhee_]m\ dhlhjhf\b^bldhgdmj_glZ< lZdbo kemqZyo q_klhex[_p h[uqgh gZlZedb\Z_lky gZ ijhl_kl h[s_kl\_gghklb b \uoh^ fh`_l [ulv ^\hydbf eb[h hg h[jZamfblky b kgh\Z ihiulZ_lky ^h[blvky ijbagZgby kZfhhl^Zq_c \ ljm^_eb[hih[_^bl\lhjZyhkh[_gghklvlZdhcebqghklb²__ih^hajbl_evghklv\jZ`^_[ghklv < ijb\h^bfuogb`_ijbf_jZofuihagZdhfbfkyk l_fdZdaZklj_\Zgb_fh`_lhljZablvky gZ ih\_^_gbb ebqghklb b \ iheh`bl_evgmx b \ hljbpZl_evgmx klhjhgm M i_j\h]h h[ke_^m_fh]hdhlhjucjZg__m`_[uehibkZgAZc]_\ gZr_fdhee_dlb\ghfljm^_^he_lg_]h \hajZklZ ij_h[eZ^Zeb iheh`bl_evgu_ q_jlu Zdp_glmZpbb Z \f_kl_ k gbfb b ihablb\gZy `bag_ggZy mklZgh\dZ Iha^g__ iheh`_gb_ j_adh baf_gbehkv klZeZ ij_h[eZ^Zlv ih^hajbl_evghklv Z g_ q_klhex[b_ Bf_ggh ih^hajbl_evghklv b lhedZeZ [hevgh]h gZ [_kieh^gmx [hjv[m k hdjm`_gb_f b hdjm`Zxsbfb LZdh_ iheh`_gb_ \klj_qZ_lky g_j_^dh aZklj_\Zxsb_ ebqghklb \ xgu_ ]h^u hlebqZxlky \u^Zxsbfbky ^hklb`_gbyfb \ jZaebqguo h[eZklyo lZd dZd hgb bkdj_gg_ b k m\e_q_gb_f bsml m^h\e_l\hj_gby \ hkms_kl\e_gbb k\hbo q_klhex[b\uo aZfukeh\ gh k \hajZklhf ij_\ahclb ^jm]bo [u\Z_l g_e_]dh b aZklj_\ZxsZy ebqghklvoZjZdl_jbamxsZykyqj_af_jghcklhcdhklvxZnn_dlh\k \hajZklhfm`_g_qm\kl\m_l [ueh]h m^h\e_l\hj_gby k\h_c ^_yl_evghklvx IjbagZgb_ __ ^hklb`_gbc klZgh\blky l_i_jv \_kvfZ mf_j_gguf b \hagbdZ_l iZjZghbq_kdZy ]hlh\ghklv \a\Zeblv \bgm aZ kha^Z\r__ky iheh`_gb_ gZ ^jm]bo gZ l_o dhlhju_ ydh[u \jZ`^_[gh d g_c gZkljh_gu Kh \j_f_g_f lZdZy ebqghklvhdhgqZl_evghklZgh\blkygZhljbpZl_evgucimlv\j_^guc^eyh[s_kl\Z Wjgkl ; ] jh`^ ba [mj`mZaghc k_fvb Hl_p ; \ha]eZ\eye djmigh_ ij_^ijbylb_ [ue ^h[jhkh\_klguf wg_j]bqguf kijZ\_^eb\uf q_eh\_dhf [hevrh_ agZq_gb_ ijb^Z\Ze [_amdhjbag_gghfm bkiheg_gbx h[yaZgghkl_c \ukhdbf ljm^h\uf ihdZaZl_eyf FZlv h[eZ^ZeZ lbobf b fy]dbf gjZ\hf Ke_^m_l hlf_lblv qlh h^bg ba jh^kl\_ggbdh\ [ue hkgh\Zl_e_f j_eb]bhaghc k_dlu ; k xgh]h \hajZklZ hlebqZeky qj_a\uqZcguf q_klhex[b_f \ rdhe_ klj_fbeky\k_]^Zd \ukhdbfhp_gdZfiehomxhp_gdm^he]hg_fh]aZ[ulvLZdh_hlghr_gb_d lhcbebbghc©g_kijZ\_^eb\hklbªihhlghr_gbxd g_fmhklZehkvgZ\kx`bagvLZdgZijbf_j ;m^Z_lky^hdZaZlvk\hxijZ\hlmhgj_rbl_evghlj_[m_lqlh[ui_j_^gbfba\bgbebkvbgZq_ ©ijhlb\gbdªi_j_klZ_l^eyg_]hkms_kl\h\Zlv;hevrh_agZq_gb_ijb^Z_lbkihegbl_evghklbd jZ[hl_hlghkblkykdjmime_agh^h[jhkh\_klghb lj_[m_llZdh]h`_hlghr_gbyhlih^qbg_gguoD gh\ufagZdhfkl\Zfg_baf_gghhlghkblkygZklhjh`_gghD jZa^mfvyfdhe_[Zgbyfg_kdehg_g K\hbokh[kl\_gguo^_ckl\bcihfgh]mjZag_dhgljhebjm_lIhhdhgqZgbbgZqZevghcrdheub j_Zevghc ]bfgZabb ; bamqZe wdhghfbdm gZjh^gh]h ohayckl\Z \ jZaebqguo mgb\_jkbl_lZo >biehfaZsblbek hlebqb_f< ]klZejZ[hlZlv\ ij_ab^bmf_gZmqghbkke_^h\Zl_evkdh]h mqj_`^_gbyb \kdhj_aZhlebqgmxjZ[hlm[ue\u^\bgmlgZ^he`ghklvi_jkhgZevgh]hj_n_j_glZ ij_^k_^Zl_ey < ] ; [ueh ij_^eh`_gh klZlv jmdh\h^bl_e_f gZmqghbkke_^h\Zl_evkdh]h bgklblmlZ wdhghfbdb lZd dZd d wlhfm \j_f_gb [eZ]h^Zjy fgh]hqbke_gguf im[ebdZpbyf hg m`_ aZ\h_\Ze ihimeyjghklv \ gZmqghf fbj_ Ih nbgZgkh\uf khh[jZ`_gbyf hg hl wlh]h ihklZ hldZaZeky < ] gZpbklkdb_ aZijZ\beu kgyeb ; k ihklZ dhlhjuc lhl aZgbfZe e_l ihkdhevdm hg [ue ijhlb\gbdhf nZrbklkdh]h j_`bfZ G_dhlhjh_ \j_fy hg jZ[hlZe ih mijZ\e_gbx k_d\_kljbjh\Zggufb ij_^ijbylbyfb aZl_f klZe ^h\_j_gguf ebphf h^gh]h ba djmiguo lhj]h\uo ij_^ijbylbc Z \ihke_^kl\bb ]eZ\guf j_\bahjhf ih [ZeZgkm \k_o djmiguo g_f_pdbolhj]h\uonbjfWlm^he`ghklvihevamykvg_baf_ggufZ\lhjbl_lhfaZgbfZe^h ]D dhgpm\lhjhcfbjh\hc\hcgu;hdZaZeky\ Zg]ebckdhchddmiZpbhgghcahg_Hgqm\kl\m_l \gmlj_ggbc ^he] ijbgylv Zdlb\gh_ mqZklb_ \ \hkklZgh\e_gbb =_jfZgbb ©bkdmiblv \bgm gZpbklh\ª i_j_^ jh^bghc b \ k\yab k wlbf jZa\b\Z_l iheblbq_kdmx ^_yl_evghklv <f_kl_ k ^jm]bfb ZglbnZrbklZfb jZaebqguo iheblbq_kdbo gZijZ\e_gbc hg hj]Zgbam_l ki_pbZevgmx dhfbkkbx ij_^klZ\bl_e_f dhlhjhc _]h ba[jZeb Ihkdhevdm ; g_ [ue kh]eZk_g k jy^hf f_jhijbylbc Zg]ebckdbo hddmiZpbhgguo \hckd m g_]h \hagbdZ_l dhgnebdl k dhf_g^Zglhf ]hjh^Z< bxe_]Zg]ebckdb_hddmiZpbhggu_\hckdZkf_gyxlkykh\_lkdbfb;klZgh\blky ij_^k_^Zl_e_fh^gh]hbahdjm`guokh\_lh\=>JGZk\hxklZjmx^he`ghklv]eZ\gh]hj_\bahjZ ih[ZeZgkmnbjfhgm`_g_\ha\jZsZ_lkyK\h_cZdlb\ghklvxb mihjkl\hf;^h[b\Z_lky\f_kl_ k ij_djZkghhj]Zgbah\Zggufdhee_dlb\hf[e_klysboihdZaZl_e_c\h\\_j_gghf_fmhdjm`ghf kh\_l_ Wdhghfbq_kdZy ih^]hlh\dZ ; h[e_]qZ_l _fm wlm aZ^Zqm Q_klhex[b_ ah\_l _]h d lhfm qlh[uk^_eZlvk\hchdjm`ghckh\_lemqrbf\ j_kim[ebd_b \wlhfhgij_mki_\Z_l< ]; ijb]eZrZxlmqblu\Zy_]h[hevrb_aZkem]bdZdki_pbZebklZihwdhghfbd_gZjh^gh]hohayckl\Z jZ[hlZlv \ fbgbkl_jkl\_ k l_f qlh[u hj]Zgbah\Zlv a^_kv gh\uc \Z`guc hl^_e WlZ gh\Zy ^he`ghklv ]em[hdh m^h\e_l\hjy_l < ihkdhevdm _]h \k_]^Z \e_deZ jmdh\h^ysZy jZ[hlZ k [hevrhc hl\_lkl\_gghklvx Hl^_e fbgbkl_jkl\Z hj]Zgbah\Zgguc < h[_ki_qb\Ze h] jhfguc h[t_f gm`ghc jZ[hlu q_j_a ]h^Z qbkeh _]h khljm^gbdh\ \ujhkeh ^h \gZqZe_ [ueh q_eh\_d MijZ\ey_fuc bf k_dlhj ]hkm^Zjkl\_ggh]h ZiiZjZlZ ; `Z`^Ze ih^gylv gZ kZfuc \ukhdbc mjh\_gv Gh ihkdhevdm hg klZ\be i_j_^ \k_fb khljm^gbdZfb g_ihf_jgh \ukhdb_ lj_[h\Zgby lZdb_ `_ \ijhq_f dZd b i_j_^ kZfbf kh[hc m g_]h gZqZebkv klhedgh\_gby k dhee_d lb\hf hkh[_ggh k fheh^ufb dZ^jZfb <hl lh]^Zlh m ; b aZjh^beZkv fukev qlh ih^ g_]h©ih^dZiu\Zxlkyªqlhhlg_]hohlylba[Z\blvkyKhk\hbfbih^haj_gbyfbhgh[jZlbeky\ kZfu_\ukhdb_bgklZgpbbbsZa^_kvih^^_j`dbghgZ^_`^u_]hg_hijZ\^Zebkv D wlhfm\j_f_gb;ij_^eh`bebijhn_kkmjm\ gh\hhj]Zgbah\Zgghc:dZ^_fbbgZmd=>JHl wlhc^he`ghklbhgg_hldZau\Z_lky\hi_j\uohgZhldju\Z_l[hevrb_gZmqgu_i_jki_dlb\u \h\lhjuo ^Z_l kZfhfm ; \hafh`ghklv ©jZa\_jgmlvkyª dZd jmdh\h^bl_ex \Z`ghc h[eZklb gZmdb \ fZkrlZ[_ j_kim[ebdb L_i_jv _]h q_klhex[b\u_ mklj_fe_gby khkj_^hlhqbebkv \ h[eZklbgZmdb< ]m ;dZdb m\k_ogZmqguokhljm^gbdh\bgklblmlh\:dZ^_fbbgZmd=>J ihlj_[h\Zeb ij_^klZ\blv ih^jh[guc hlq_l h ijh^_eZgghc gZmq ghc b e_dpbhgghc jZ[hl_ Wlh kbevgh_]haZ^_ehHgihqm\kl\h\ZegZ^kh[hc©hi_dmªq_f[uehq_gvhaeh[e_gGh\ \hajZkl_ e_l;m`_ljm^gh[uehi_j_kljZb\Zlvky<i_j\u_\ `bagbhghsmlbek_jv_agh_nbabq_kdh_ g_^hfh]Zgb_ <h \j_fy h[ke_^h\Zgby gZfb [ueh h[gZjm`_gh fZkkb\gh_ gZdhie_gb_ Znn_dlZ gZijZ\e_ggh]h ijhlb\ _]h khljm^gbdh\ dhlhjuf ; ij_^ty\eye j_adb_ h[\bg_gby D ij_^ibkZgghfmgZfbe_q_gbxhg\gZqZe_hlghkbekykd_ilbq_kdbwlhjZkijhkljZgyehkv^Z`_gZ f_^bdZf_glu;\ukdZau\ZehiZk_gbyqlh_]haZ[he_\Zgb_²g_qlhbgh_dZdaehdZq_kl\_ggZy himohev fha]Z b \k_ ^mfZe qlh hl g_]h kdju\Zxl ^bZ]gha Gh iha`_ dh]^Z ; ih^ \ebygb_f e_q_gby ihqm\kl\h\Ze k_[y emqr_ hg klZe hlghkblvky d e_qZsbf \jZqZf k ]h jZa^h [hevrbf ^h\_jb_f < hibkZgghfkemqZ_i_j_^gZfblbibqgZyaZklj_\ZxsZyebqghklvkh\k_fboZjZdl_jgufb ^eyg__q_jlZfbK kZfh]h^_lkl\Z;[ue\_kvfZq_klhex[b\uffZevqbdhfqm\kl\bl_evgufd ex[h]hjh^ZihjbpZgbxM`_\ gZqZevghcrdhe_hg^h[b\Zekylhevdhemqrbohp_ghd^biehf aZsblbe k hlebqb_f AZl_f hg ^_kylbe_lbyfb aZf_lgh \u^_eyeky gZ h[s_f nhg_ k\h_c wjm^bpb_c wg_j]b_c kljh]hc lj_[h\Zl_evghklvx d k_[_ b d ^jm]bf Z lZd`_ bkdexqbl_evgh \ukhdbfb ^hklb`_gbyfb \ jZaguo h[eZklyo G_ jZa _fm ijboh^behkv gZqbgZlv k gmey gh ljm^ghklb\k_]^Z\ebyebgZg_]hebrviheh`bl_evghih[m`^Zyd _s_[hevr_cZdlb\ghklbb hg k fhegb_ghkghc [ukljhlhc \gh\v \u ^\b]Zeky gZ \ukhdb_ jmdh\h^ysb_ ihklu Ijbq_f wlbo ihklh\ hg ^h[b\Zeky hlgx^v g_ agZdhfkl\Zfb b hqdh\lbjZl_evkl\hf gZijhlb\ _]h kqblZeb ki_pbZebklhf k dhgdj_lgufb l\hjq_kdb fb ijhy\e_gbyfb B ebrv \ \hajZkl_ e_l dh]^Z gZqZebm]ZkZlvl\hjq_kdb_kbeuijhy\bebk_[y^jm]b_q_jluwlhcZdp_glmbjh\Zgghcebqghklb h[hjhlgZy klhjhgZ aZklj_\Zxs_]h oZjZdl_jZ <b^bfh ba\_klgmx jhev ku]jZeh b lh qlh h[klhyl_evkl\ZkdeZ^u\Zebkvg_[eZ]hijbylgh^eykZfhex[b\h]hoZjZdl_jZ;hggbdZdg_fh] \_jgmlv k_[_ [ueh]h ij_klb`Z klhev \Z`gh]h ^ey ex^_c wlh]h lbiZ L_i_jv ihabpby ; \ hlghr_gbb _]h gZqZevkl\Z Z lZd`_ dhee_] klZgh\blky \k_ [he__ \jZ`^_[ghc Hg qm\kl\m_l g_kijZ\_^eb\h_hlghr_gb_d k_[_AZklj_\Zxsb_q_jluebqghklb^Z\Z\rb_ij_`^_gZj_^dhklv iheh`bl_evguc j_amevlZl jZkljZqb\Zxlky l_i_jv gZ [_kieh^gmx [hjv[m k dhee_]Zfb b gZqZevkl\hfM \lhjh]hh[ke_^m_fh]hqm\kl\bl_evghklvb mya\bfhklv^Z`_\ ]h^u^hklb`_gbc g_ \k_]^Z [eZ]hl\hjgh dhfi_gkbjh\Zebkv q_klhex[b_f >Z`_ i_jbh^u ih^t_fZ [ueb m g_]h khijy`_guk ljm^ghklyfbb k[hevrbfbhkeh`g_gbyfb =_gjboG]jh`^ihijhn_kkbbfmaudZglkdjbiZqHl_p_]hihkeh\Zf[hevgh]h [ue ©nZgZlbdhf kijZ\_^eb\hklbª Rdhem G ihk_sZe g_hohlgh gh q_klhex[b_ g_ iha\heyeh _fm ihemqZlv iehob_ hp_gdb B ^_ckl\bl_evgh hg \k_]^Z [ue i_j\uf mq_gbdhf < e_l G ihijhkbeih^Zjblv_fmkdjbidm\ e_lhg__ ihemqbeZ \^h[bekyijb_fZ\ fmaudZevgmx rdhemB \ ^Zevg_cr_f \h \k_f qm\kl\h\ZeZkv m g_]h p_e_mklj_fe_gghklv [hevrh_ mihjkl\h GZaZdexqbl_evguowdaZf_gZoGih\k_fij_^f_lZfihemqbegZb\ukrb_hp_gdbDZdfmaudZgl hg ijhr_e [e_klysbc imlv b \k_ `_ m g_]h ihklhyggh [ueb klhedgh\_gby k gZqZevkl\hf k Z^fbgbkljZpb_cb[hhgmijyfhgZklZb\ZegZdZdbolhk\hbohkh[uoijZ\Zob gb\ q_fgbdh]^Z g_ r_e gZ mklmidb Ihke_ [mjguo h[tykg_gbc hg qZklh f_gye f_klh jZ[hlu Fhlb\u [ueb kZfu_ jZaebqgu_ lh _fm ydh[u g_kijZ\_^eb\h kgbabeb ]hghjZj lh gZijZ\beb jZ[hlZlv \ g_ khhl\_lkl\mxsbc _]h ^Zgguf dhee_dlb\ K h^gbf \hafh`gh g_kdhevdh g_lZdlbqguf ^bj_dlhjhf ^_eh m G ^hreh ^h `_klhdh]h kdZg^ZeZ H[Z djbqZeb ^jm] gZ ^jm]Z ^bj_dlhj h`b^Ze qlh \hl\hl kh klhjhgu G ihke_^m_l hkdhj[e_gb_ ^_ckl\b_f Iha^g__ ^bj_dlhj ihiulZeky ihclb gZ fbjh\mx ijb]eZkbe G d k_[_ gh G dZl_]hjbq_kdb hldZaZeky ihclb gZklhevdhg_ijbyl_gklZe_fmwlhlq_eh\_dHgjZkkdZau\Zeb h^jm]bo©bgljb]ZoªgZijbf_j h^gZ`^u^jm]h]hfmaudZglZg_aZkem`_gghihhsjbebZ _]hgbq_fg_hlf_lbebK `_ghcm g_]h hlghr_gbyij_djZkgu_ghhgZgZ^hiheZ]Zlv`_gsbgZ\_kvfZmklmiqb\Zy< \hajZkl_]h^Zm G\ke_^kl\b_i_j_]jmahdjZa\bekykiZaffmaudZglh\l_ijhn_kkbhgZevgucg_\jha< gZr_f ikbohl_jZi_\lbq_kdhfhl^_e_gbbdmjkue_q_gbywlh]haZ[he_\Zgby\k_]^Zijhl_dZxlmki_rgh ghe_q_gb_G[uehg_wnn_dlb\gufb[hhgg_^hklZlhqgh\gbfZl_evghijbkemrb\Zekyd gZrbf h[tykg_gbyf b g_ \k_]^Z ke_^h\Ze ij_^ibkZgbyf <k_f gZrbf mkbebyf hg ijhlb\hihklZ\eye k\h_kh[kl\_ggh_fg_gb_Badebgbdbhg\uibkZekylZdb g_^he_qb\rbkv Fu ]h\hjbeb h lhf qlh wlhl h[ke_^m_fuc kqblZe k_[y ih[hjgbdhf kijZ\_^eb\hklb gh [hjheky\k_]^ZlhevdhaZk\hbkh[kl\_ggu_ijZ\ZGZqZevgbdbGqZklh\klmiZebk gbf\ kihj g_jZa^_eyy_]h\a]ey^h\?kebhg\k_`_^h[bekyl\hjq_kdh]hijbagZgbylhhkgh\ghcijbqbghc [ueh _]h g_^x`bggh_ fmaudZev gh_ ^Zjh\Zgb_ <ijhq_f g_ [m^v lZdh]h klbfmeZ dZd q_klhex[b_hg_^\Zeb^hklb][u\ukhdh]hmjh\gyQ_klhex[b_\k_]^Zih^lZedb\Zeh_]h[ueh ^\b`ms_c kbehc dZd _]h hlebqghc mq_[u lZd b [hevrbo ijhn_kkbhgZevguo mki_oh\ gZ ihijbs_fmaudbH[Zh[ke_^m_fuog_y\eyxlkyikbohiZlZfbhgbebrvijbg_[eZ]hijbylguo h[klhyl_evkl\Zo klZedb\Zebkv k ljm^ghklyfb Z \ h[s_f \k_]^Z ijhy\eyeb bkdexqbl_evgh_ ljm^hex[b_ ^_eh\blhklv b p_e_mklj_fe_gghklv Gh h[Z hgb g_khfg_ggh ^he`gu [ulv hlg_k_gu d Zdp_glmbjh\Zgguf ebqghklyf DZd \b^bf lZdhc lbi ex^_c mihjgh b^_l d p_eb ^h[b\Z_lky g_aZmjy^guo mki_oh\ H^gZdh wlb ebqghklb hq_gv mya\bfu b gZlZedb\Zykv gZ ij_iylkl\byj_Z]bjmxl\jZ`^_[gh M h[hbo h[ke_^m_fuo bgh]^Z dhgklZlbjh\Zebkv ijbagZdb gZqbgZxs_]hky ikbobq_kdh]h aZ[he_\ZgbyghgbjZamg_[uehnbdkZpbb[he_ag_gguokhklhygbc\ h^ghcq_ldhhij_^_e_gghc kn_j_ i_j_`b\Zgbc :gZeh]bqgh_ jZaebqb_ fh`gh ijh\_klb f_`^m Zdp_glmbjh\Zgghc i_^Zglbq_kdhc ebqghklvx b ebqghklvx m dhlhjhc gZ[ex^Zxlky ly`_eu_ ijhy\e_gby g_\jhaZ gZ\yaqb\uo khklhygbc Ijb iZjZghbq_kdhf jZa\blbb q_eh\_d gZijZ\ey_l [hjv[m g_ \ jZaghh[jZagu_ kemqZcgu_ lhqdb hg ho\Zq_g h^ghc_^bgkl\_gghc b^__c dhlhjZy \k_p_eh aZ\eZ^_\Z_l bf Ijb\h`m ijbf_j iZjZghbq_kdh]h jZa\blby lZd`_ hibkZgguc AZc]_ \ gZr_c dhee_dlb\ghcjZ[hl_ Bha_n G ] jh`^ ]hjghjZ[hqbc GZlmjZ hq_gv h[sbl_evgZy \_k_eZy H[eZ^Z_l qm\kl\hfxfhjZg_baf_ggh\_kvfZZdlb\_g< rdhe_mqbekyohjhrhq_klhex[b\ufg_[uegh lj_[h\Zgbymqbl_e_c\uihegye^h[jhkh\_klghK e_ljZ[hlZ_l]hjghjZ[hqbfgZjZ[hl_hggZ ohjhr_f kq_lm IjZ\^Z G g_ kh]eZk_g [ue dh_ k q_f \ hj]ZgbaZpbb ijbbkdh\ gh g_kijZ\_^eb\hklvx hg \hafmsZeky _s_ [m^mqb fZevqbdhf G mqZkl\h\Ze \h \lhjhc fbjh\hc \hcg_IhhdhgqZgbb\hcguhiylvihr_e\ ]hjghjZ[hqb_]^_\gh\v^h[bekyhlebqguoljm^h\uo ihdZaZl_e_c?]hjZaij_^klZ\eyebd ij_fbbghZ^fbgbkljZpbyg_kh]eZrZeZkv__ \uieZlblv lZddZdG[uek g_xg_\ eZ^Zo>_eh\ lhfqlhhgqZklhaZsbsZekhljm^gbdh\[hjhekyijhlb\ g_kijZ\_^eb\hklb \ hp_gd_ bo ljm^Z Hg djblbdh\Ze b gZqZevkl\h b ijhnkhxaguo^_yl_e_c b dh_ \ q_f[ue \b^bfh ijZ\ Gh hg lZd j_adh ih^q_jdb\Ze k\hx djblbq_kdmx ihabpbx qlh \ dhg_qghf blh]_ ijhkeue kdehqgbdhf < ihke_^gb_ ]h^u G qm\kl\h\Ze k_[y h[hc^_gguf b iheZ]Zeqlhg_dhlhju_bajmdh\h^bl_e_cij_^ijbylbyklj_fylkyba[Z\blvkyhlg_]h< ] ijb mkljhckl\_ gh\hc rlhevgbgZ G h[jmrbeZkv m]hevgZy kl_gZ \ur_ q_eh\_q_kdh]h jhklZ < j_amevlZl_ ² khljyk_gb_ fha]Z mrb[ kibgu khijh\h`^Zxsbcky `_kldhc [hevx G_dhlhjh_ \j_fy G ijhe_`Ze \ ihkl_eb e_qbeky aZl_f \ur_e gZ jZ[hlm gh q_j_a g_kdhevdh ^g_c kgh\Z ke_] `Zemykv gZ [hev < ihke_^mxsb_ ihe]h^Z memqr_gb_g_ gZklmibeh g_kfhljy gZ mihjgh_ e_q_gb_ G kqblZe qlh _]h e_qZl b g_ijZ\bevgh b g_^hklZlhqgh bgl_gkb\gh b \hkijbgbfZe lZdh_ hlghr_gb_ dZd `_klhdmx g_kijZ\_^eb\hklv Dh]^Z q_j_a f_kyp_\ dmjk e_q_gby [ue hdhgq_gb G\uibkZebgZjZ[hlmhgjZkp_gbewlhdZdbgljb]bij_^ijbylbyiheZ]Zeqlhohlyl ©aZlmr_\Zlvª g_kqZklguc kemqZc G ihlj_[h\Ze i_gkbb ih m\_qvx Hg qm\kl\h\Ze k_[y bg\Zeb^hf baaZ ihklhygghc ]heh\ghc [heb [heb \ aZlued_ b kibg_ gh ijb objmj]bq_kdhf g_\jheh]bq_kdhf b hjlhi_^bq_kdhf h[ke_^h\Zgbb hkgh\Zgbc ^ey gZagZq_gby i_gkbb g_ [ueh h[gZjm`_ghHkh[_gghkms_kl\_gghqlhg_[uemklZgh\e_gihklljZ\fZlbq_kdbchj]Zgbq_kdbc ikbohkbg^jhf H^gZdh G b a^_kv aZih^hajbe g_\_jguc ^bZ]gha Hg ih^Ze bkd gZ dhfbkkbx aZ hldZa \ i_gkbb b ihlj_[h\Ze klZpbhgZjgh]h e_q_gby \ debgbd_ mgb\_jkbl_lZ Wlhl bkd [ue hldehg_gdhfbkkb_chdjm]Zb lh]^ZG\ h[oh^ihke_^mxs_cbgklZgpbbih^Z_lbkd\ jZ[hqbc km^gZhj]ZgbaZpbxkhpbZevgh]hkljZoh\ZgbyaZ__g_ijZ\bevgu_^_ckl\byG l_i_jvm`_l\_j^h m[_`^_gqlhaZ\k_fwlbfklhbl miheghfhq_ggucih khpkljZom _]h ij_^ijbylby k dhlhjuf m g_]h [u\Zeb k_jv_agu_ lj_gby <hh[s_ hg ijboh^bl d \u\h^m qlh ij_^ijbylb_ b khpkljZo h[t_^bgbebkv kh\f_klgufb mkbebyfb ohlyl ebrblv _]h aZdhgguo ijZ\ Ih ijhkv[_ jZ[hq_]h km^ZG\ ] ijbr_ed gZf\ debgbdm^eyijhoh`^_gbywdki_jlbauihih\h^mg_kqZklgh]h kemqZy b ijh\_jdb k\hbo `Zeh[ G ij_^eh`be mieZlblv iheh`_ggu_ aZ wdki_jlbam ^_gv]b ba k\h_]hdZjfZgZ©ebrv[u^h[blvkykijZ\_^eb\hklbª>_lZevgh_klZpbhgZjgh_h[ke_^h\Zgb_g_ ihdZaZeh hklZlhqguo ljZ\fZlbq_kdbo y\e_gbc gh [ue h[gZjm`_g y\guc bihohg^jbq_kdbc kbg^jhf G [ue m\_j_g qlh \ j_amevlZl_ ljZ\fu kljZ^Z_l ly`_euf g_^m]hf qlh a^hjh\v_ gbdh]^Zm`_g_\_jg_lkyd g_fmhgf_qlZe^hjZ[hlZlvohly[u^he_l<h\j_fyij_[u\Zgby G\ klZpbhgZj_fuihiulZebkvhk\h[h^blv_]hhliZjZghbq_kdh]hkhklhygbyih^jh[ghhk\_lb\ [hevghfmijbjh^m_]hg_\jhlbq_kdbo`Zeh[HgdZd[m^lh[uihgyegZkb baty\be]hlh\ghklv ijhclb m gZk klZpbhgZjgh_ ikbohl_jZi_\lbq_kdh_ e_q_gb_ Gh \kdhj_ ihke_ lh]h dZd G ihklmibe\ gZrmdebgbdmijhbahreZ©ko\ZldZªf_`^mgbfb h^gbfba\jZq_cdh]^Z\jZqgZqZe ]h\hjblv k G h g_\jhlbq_kdhf oZjZdl_j_ _]h l_i_j_rgbo `Zeh[ Ebrv ihke_ lh]h dZd ijba\ZgghfmgZf_klh©ko\ZldbªklZjr_fmdhgkmevlZglmm^Zehkvmkihdhblv_]hGhldZaZekyhl j_r_gbyg_f_^e_ggh\uibkZlvkybadebgbdb< ihke_^mxsb_g_^_ebbgl_gkb\gZyikbohl_jZiby hl\e_q_gb_f b gZ]jmadZfb ^h g_dhlhjhc kl_i_gb ba[Z\beZ [hevgh]h hl dhfie_dkZ bihohg^jbq_kdbo`Zeh[Fum`_iheZ]ZebqlhgZr[hevghcgZimlbd \ua^hjh\e_gbxh^gZdh ih^Z\blv_]hj_admx haeh[e_gghklv ih hlghr_gbx d k\h_fm ij_^ijbylbxgbq_f g_ m^Z\Zehkv Q_j_a g_^_eb fu kgh\Z gZ[ex^Zeb `_klhqZcrbc Znn_dl GZ k_c jZa G g_ sZ^be gb k\hb rlhevgb gb gZr f_^i_jkhgZe b \kdhj_ ihke_ wlh]h hg ihdbgme debgbdm Kimkly g_kdhevdh g_^_ev G khh[sbe ]eZ\\jZqm dZd [ueh ^h]h\hj_gh h khklhygbb k\h_]h a^hjh\vy Hg \gh\v ihr_ejZ[hlZlvgh\jZqij_^ijbylbyg_kfhljygZgZrbk_jv_agu_ij_^mij_`^_gbyaZy\be_fm hldjulhqlh^eyjZ[hluih^a_fe_chg©g_ijb]h^_gªWlhaZy\e_gb_ly`_ehmya\behGb klZeh lheqdhfd gh\ufbihohg^jbq_kdbfhiZk_gbyfL_i_jvm g_]hihy\bekygh\uckljZo²ihl_jylv aj_gb_ lZd dZd ijb h[ke_^h\Zgbb hdmebkl aZy\be qlh m g_]h g_kdhevdh hkeZ[_eh aj_gb_ Khh[sb\\ ibkvf_\k_wlhG kgh\Zi_j_oh^bed gZ[he_\r_cl_f_²i_j_`blhcljZ\f_Ibkvfh aZdZgqb\Zehkv khh[s_gb_f h lhf qlh G ]hlh\bl gh\u_ `Zeh[u Iha^g__ fu magZeb qlh [hevghfmkgh\Zij_^klhblwdki_jlbaZ I_j_^ gZfb oZjZdl_jgh_ jZa\blb_ iZjZghbq_kdh]h khklhygby H[ke_^m_fuc dhlhjuc [m^hjZ`bl \k_ ij_^ijbylb_ k\hbfb kihjZfb b fh`_l [ulv hij_^_e_g dZd iZjZghbq_kdbc ikbohiZl ihke_ g_kqZklgh]h kemqZy gZqbgZ_l [hjv[m ©aZ k\hb ijZ\Zª Ih f_j_ \hajZklZgby ij_iylkl\bc[hjv[ZklZgh\blky\k_h`_klhq_gg__Ikbohl_jZi_\lbq_kdh_\f_rZl_evkl\h\_^_ld \j_f_gghfm memqr_gbx gh aZl_f [he_agv ijh^he`Z_l jZa\b\Zlvky lZd dZd G m`_ kebrdhf ijhqghih]jmabeky\ [he_ag_ggu_i_j_`b\ZgbyIjZ\^Z\ [hjv[__]hij_ke_^h\Zebg_m^Zqbgh \k_ `_ hkgh\gmx jhev \ jZa\blbb aZ[he_\Zgby ku]jZeZ \k_ lZ `_ keh`gZy dZjlbgZ ² kf_gZ \ae_lh\ b iZ^_gbc k\yaZgguo k ihke_^kl\byfb g_kqZklgh]h kemqZy ;he_ag_ggh_ khklhygb_ G hdZaZehkv ij_^f_lhf \k_ gh\uo h[ke_^h\Zgbc gh\uo wdki_jlba Z hgblh b ih^^_j`b\Zeb baf_gqb\mx b]jm rZjZoZgv_ ba klhjhgu \ klhjhgm h[_ki_qb\r__ ijh]j_kkbjh\Zgb_ iZjZghbq_kdh]h khklhygby Fu \b^bf gZ ijbf_j_ G qlh m aZklj_\Zxsbo ebqghkl_c lZd`_ fh`_l jZa\blvky bihohg^jbq_kdbc kbfilhfhdhfie_dk < i_j\mx hq_j_^v hg [hjheky aZ k\hb ijZ\ZghiZjZee_evghreZ[hjv[Zb aZbae_q_gb_g_^m]Zdhlhjuc[ueieh^hf_]hnZglZabbDZd ihdZau\Z_l ke_^mxsbc kemqZc jZa\blb_ aZ[he_\Zgby fh`_l ijhoh^blv b \ qbklh bihohg^jbq_kdbonhjfZo =_j[_jlI]jh`^ihijhn_kkbbdhq_]ZjgZaZ\h^_< ^_lkl\_gbq_fijbf_qZl_e_gg_ [ueJZ[hlZegZa_f_evghfmqZkld_hlpZDhq_]ZjhfjZ[hlZ_lk ]`_gbeky\ ]^\h_ ^_l_c ² b e_l GZ ijhba\h^kl\_ ihklhyggh \hkklZ\Ze ijhlb\ ms_fe_gby \ ijZ\Zo dZd _]h kZfh]h lZd b lh\Zjbs_c Hq_gv e_]dh mya\bf Dh]^Z qm\kl\m_l k_[y aZ^_luf klZgh\blky \ha[m`^_ggufbfimevkb\guf©Y dhfmm]h^gh\ ]eZaZkdZ`mqlh^mfZxªGh\ lh`_\j_fyI q_klhex[b\ g_ ijhqv ij_\ahclb ex[h]h ljm^h\ufb ihdZaZl_eyfb < h[s_f gZ jZ[hl_ d g_fm hlghkylky ohjhrh p_gyl aZ ohjhrmx jZ[hlm Z agZy _]h h[b^qb\hklv sZ^yl _]h < gZr_c debgbd_Iihy\beky\ m\_ek_[ykgZqZeZ\_kvfZkZfhm\_j_gghgh\ lh`_\j_fyijhy\eye ih^hajbl_evghklv Ij_^eh`be gZf p_euc kibkhd k\hbo `Zeh[ gZ hkgh\Zgbb dhlhjuo fu hij_^_ebeb _]h dZd k_g_klhbihohg^jbdZ \ ijZ\hc \_jog_c iheh\bg_ `b\hlZ kbevgZy ^Z\ysZy [hevijbe_`Zgbbhl^Z_l\ kibgm\ ijhoeZ^gmxih]h^m²dhexsZy[hev\ dj_klp_]heh\gZy [hev jb]b^ghklv aZluedZ dhexsZy [hev \ k_j^p_ imevk mqZs_g mkbe_ggh_ k_j^p_[b_gb_ @Zem_lkygZhagh[klZjZ_lky©ml_ieylvkyªb kwlhcp_evxghkblgZ`b\hl_djhebqvxrdmjdm >Z`_ ijb g_agZqbl_evghf gZijy`_gbb _]h [jhkZ_l \ ihl Fgh]h]h g_ fh`_l _klv ² ©mkbeb\Z_lky[hev\ i_q_gbª@Zem_lkygZhsms_gb_[m^lh©\k_\ dbrdZof_jl\h_ª;he_agvI gZqZeZkv \ ^_dZ[j_ ] @_gZ _]h \ lh \j_fy [he_eZ bgn_dpbhgghc `_elmohc f_kypZ ijhe_`ZeZ \ [hevgbp_ Ijbf_jgh q_j_a g_^_ex ihke_gZqZeZ[he_agb`_gu I ih_\ k\bgbgu ihqm\kl\h\Ze©[m^lh\gmljbqlhlhehigmehª;hevg_ij_djZsZeZkvbkq_aZii_lblhsmsZehkv ©gZ[moZgb_i_q_gbª@_gZgZklZb\ZeZgZdhgkmevlZpbbm \jZqZ]h\hjbeZqlhi_q_gv©kgZqZeZ aZl\_j^__l Z ihlhf [m^_l jZdª <jZq ijb h[ke_^h\Zgbb gbq_]h \ i_q_gb g_ gZr_e [hev h[tykgbeaZ[he_\Zgb_f`_em^dZE_q_gb_mki_oZg_^Zeh< ] \jZq\ hq_j_^ghc[hevgbp_ \k_©k\ZebeªgZi_q_gvZ `_em^hdijbagZea^hjh\ufIjb\uibkd_bawlhc[hevgbpuI [ue\ _s_ [he__ ly`_ehf khklhygbb q_f ijb ihklmie_gbb < wlhf `_ ]h^m mf_j hl `_elmob _]h [u\rbc khk_^ ih iZeZl_ L_i_jv I gZqbgZ_l kh[ex^Zlv kljh `Zcrmx ^b_lm hg ijh^he`Z_l jZ[hlZlv gh hq_gv [ukljh mklZ_l qZklh \u gm`^_g kZ^blvky qlh[u hl^hogmlv < ] gZklmibeh g_agZqbl_evgh_ h[ e_]q_gb_ gh ihlhf kgh\Z [hev \hah[gh\beZkv k ij_`g_c kbehc L_i_jv hgZ dhgp_gljbjh\ZeZkv g_ \ h[eZklb i_q_gb Z jZkijhkljZgyeZkv ih \k_fm `b\hlm ]jm^ghcde_ld_\iehlv^h]heh\uKgh\ZI]hkiblZebabjmxlkgh\Zg_mklZgZ\eb\Zxlijbqbgu aZ[he_\Zgby kgh\Z memqr_gby g_l H^gZdh l_i_jv [ueh hdhgqZl_evgh mklZgh\e_gh g_j\gh_ ijhbkoh`^_gb_ aZ[he_\Zgby b I gZijZ\beb d gZf ^ey ijhoh`^_gby dmjkZ ikbohl_jZi_\lbq_kdh]h e_q_gby < gZqZe_ e_q_gby I [ue gZkljh_g \_kvfZ kd_ilbq_kdb Hg g_ \_jbeqlhd _]h[he_agbfh`ghgZclb©ih^oh^ªkhklhjhguikbobq_kdhcDh]^Zfuijbf_gyy gZ]jmahqgmx l_jZibx ij_^eh`beb _fm ihfhqv i_j_g_klb rdZn hg lml `_ j_rbe qlh ih^hj\Zekye_]gZdhcdmg_ohl_e\klZ\ZlvhldZaZekymqZkl\h\Zlv\ kihjlb\guomijZ`g_gbyo Kgh\Z ihke_^h\Zeb ^ebl_evgu_ [_k_^u I ihkl_i_ggh klZgh\beky [eZ]hjZamfg__ b ^Z`_ kh]eZkbeky kgylv k `b\hlZ djhebqvx rdmjdm k dhlhjhc g_ jZkklZ\Zeky b \ klZpbhgZj_ < l_q_gb_g_kdhevdbo^g_cihke_wlh]hhg`Zeh\ZekygZ©hagh[\ `b\hl_ªKd_ikbkIijbrehkv ij_h^he_\Zlv^he]hghihkl_i_gghhgklZeijbgbfZlvmqZklb_b \b]jZoaZgbfZlvkykihjlhf² \b^bfhhkhagZeqlhe_q_gb_ijbghkbl_fmihevam< fhf_gl\uibkdbI q_j_ag_^_evihke_ ihklmie_gby fu g_ hlf_lbeb ihqlb gbdZdbo `Zeh[ >hihegbl_evgh _fm [ue gZagZq_g Zf[meZlhjgucdmjke_q_gbydhlhjucb ijb\_ed hdhgqZl_evghfm\ua^hjh\e_gbxL_i_jvgZr h[ke_^m_fuc\hlm`_g_kdhevdhe_ljZ[hlZ_l\j_fyhl\j_f_gbihy\ey_lkym gZkgZijb_f_< ] \ \hajZkl_ e_l hg gZqZe ihk_sZlv dmjku mkh \_jr_gkl\h\Zgby `_eZy ijbh[j_klb [he__\ukhdmxd\ZebnbdZpbx©G_ohqmhlklZ\Zlvijhn_kkbhgZevghª Wlhijbf_jlbibqghcaZklj_\Zxs_cebqghklbdhlhjmx\ kbemg_[eZ]hijbylgh]hkl_q_gby h[klhyl_evkl\ ij_ke_^h\Ze \k_\hajZklZxsbc kljZo J_amevlZlhf _]h hdZaZehkv hsms_gb_ fgh`_kl\_gguol_e_kguog_^hfh]Zgbc<h\j_fye_q_gbyiZjZghbq_kdbcdhfihg_gl\ jZa\blbb aZ[he_\Zgby g_ fh] g_ [jhkblvky \ ]eZaZ ykgh h[hagZqbebkv q_jlu aZklj_\Zxs_]h oZjZdl_jZ <gZqZe_ I [ue djZcg_ g_^h\_jqb\ d \jZqZf k haeh[e_gb_f aZy\eye qlh hg kZf emqr_ \k_o jZa[bjZ_lky\ k\h_c[he_agbMihjghkhijhlb\eyekye_q_gbxGhdh]^Z[eZ]hjZamfb_h^_j`Zeh \_jo hg kZf Zdlb\gh \dexqbeky \ e_q_gb_ Ihke_^gbc fhf_gl lZd`_ oZjZdl_j_g ^ey aZklj_\Zxsbo Zdp_glmbjh\Zgguo ebqghkl_c ?keb m` hgb m[_^bebkv \ ijZ\bevghklb gZagZq_ggh]h e_q_gby lh ij_ke_^mxl ihklZ\e_ggmx p_ev lZd `_ q_ldh k lZdhc `_ ihke_^h\Zl_evghklvxdZdwlh\hh[s_k\hckl\_gghbogZlmj_< k\h_h[jZaghfklj_fe_gbb[ulv h[jZaph\uf \ [hjv[_ aZ a^hjh\v_ kdZau\Z_lky q_klhex[b_ wlbo [hevguo DZd lhevdh I \ua^hjh\_e hg lZd `_ p_e_mklj_fe_ggh kgh\Z \dexqbeky \ `bagv \ ljm^ \aye gZ k_[y ^hihegbl_evgmxgZ]jmadmqlh[ug_ hlklZ\Zlv ijhn_kkbhgZevgh M gZk g_l hkgh\Zgbchlg_klb _]hd ikbohiZlZfghhgg_khfg_gghy\ey_lkyZdp_glmbjh\Zgghcebqghklvx BlZd hl_p h^gh]h ba \ur_hibkZgguo h[ke_^m_fuo [ue ©nZgZlbdhf kijZ\_^eb\hklbª kj_^b jh^kl\_ggbdh\ ^jm]h]h [ue j_eb]bhaguc k_dlZgl qlh hiylvlZdb gZ\h^bl gZ fukev h iZjZghbq_kdhc kljmdlmj_ ebqghklb Hkgh\u\Zykv gZ wlbo nZdlZo fh`gh \ukdZaZlv ij_^iheh`_gb_ qlh khhl\_lkl\mxsb_ q_jlu oZjZdl_jZ y\eyxlky gZke_^kl\_ggufb K ^jm]hc klhjhgu \klZ_l \hijhk g_ ihkem`beb eb ih\_^_gb_ hlpZ _]h fhjZevguc h[ebd h[jZaphf ^ey kugZ"Ih^h[guckemqZcg_\jhaZgZ\yaqb\uokhklhygbcgZfbhibkZg\ur_²j_qvb^_lh fZl_jb b kug_<h\kydhfkemqZ_lZdZyq_jlZdZdaZklj_\Zgb_jZkihagZ_lkym`_\ ^_lkdhf\hajZkl_< gZr_f ^_lkdhf hl^_e_gbb fu gZ[ex^Zeb fgh]h fZe_gvdbo h[ke_^m_fuo aZklj_\Zxs_]h lbiZ Bgh]^Z wlb q_jlu m ^_l_c ijhy\eyxlky hq_gv yjdh Gh _keb hgb \_^ml \ dhg_qghf blh]_ d iZlheh]bq_kdbf y\e_gbyf lh qZs_ \k_]h wlh j_amevlZl g_ijZ\bevgh]h \hkiblZgby Hkh[_ggh qZklhieZq_\gu_ihke_^kl\by^Z_l©fZylgbdh\h_ª\hkiblZgb_dZdy ij_^eZ]Zx_]hgZa\ZlvHgh aZdexqZ_lky\ ihklhygguodhe_[Zgbyof_`^mij_m\_ebq_gghckljh]hklvxb fy]dbfeZkdh\uf h[jZs_gb_fWlhb kem`blihq\hc^eyl_okZfuodhe_[Zgbcdhlhju_\_^mld iZjZghbq_kdhfm Znn_dlm J_[_gdZ h[j_dZxl gZ ihklhyggu_ f_lZgby f_`^m bkiheg_gb_f _]h `_eZgbc b gZeh`_gb_f gZ gbo aZij_lZ \ dhgp_ dhgph\ m g_]h \ujZ[Zlu\Z_lky \jZ`^_[gh_ hlghr_gb_ d lhfmba\hkiblZl_e_cdhlhjuc\ _]h^_lkdhffbj_ij_^klZ\ey_lkljh]hklv?kebh^bgb lhl`_ \hkiblZl_ev©dZqZ_lkyªih^h[ghfZylgbdmf_`^ml_fbb ^jm]bfbf_jhijbylbyfblhm j_[_gdZ \hagbdZ_l qm\kl\h ih^h[gh_ \ur_hibkZgghc g_gZ\bklbex[\b l _ d wlhfm \ajhkehfm ijhy\eyxlky b [hevrZy ijb\yaZgghklv b h^gh\j_f_ggh haeh[e_ggZy aZfdgmlhklv <ajhkeu_ ex^b \ ijhp_kk_ k\h_c ©[hjv[uª k hdjm`_gb_f qZklh kha^Zxl kZfb k_[_ h[klZgh\dm ©jZkdZqb\Zgbyª f_`^m mki_ohf b ijh\ZeZfb >_lb dhg_qgh g_ kihkh[gu gZ ih^h[gmx Zdlb\ghklv _kl_kl\_ggh qlh hgb \ hkgh\ghf ih^qbgyxlky \ebygbx \ajhkeuo ihwlhfm b ©jZkdZqb\Zgb_ªboijboh^blba\g_Gb`_hibkZgZfZe_gvdZy^_\hqdZm dhlhjhciZjZghbq_kdbc Znn_dl \hagbd dZd baaZ Zdp_glmZpbb aZklj_\Zxsbo q_jl oZjZdl_jZ lZd b \ke_^kl\b_ ©fZylgbdh\h]hª\hkiblZgby ?\Z W e_l ihklmibeZ \ gZr_ ^_lkdh_ ikbobZljbq_kdh_ hl^_e_gb_ Hl_p ² p_e_mklj_fe_gguc q_klhex[b\uc q_eh\_d baaZ gZijy`_gghc jZ[hlu \hkiblZgbx ^_l_c g_ m^_ey_lgbdZdh]h\gbfZgbyFZlv²jZ[hlgbdlhj]h\ebghg_jZ[hlZ_lihki_pbZevghklblZd dZd p_ebdhf ihk\ylbeZ k_[y \hkiblZgbx ljhbo ^_l_c b ^hfZrg_fm ohayckl\m <hkvfbe_lgyy k_kljZ?\uijbe_`gZ^h[jhkh\_klgZylj_oe_lgbc[jZlbd²hq_gv`b\hcj_[_ghdFZlvebrv g_^Z\ghhklZ\beZjZ[hlmihwlhfm?\Z\ l_q_gb_jy^Ze_l`beZlhm [Z[mrdbk ^_^mrdhclhm jh^bl_e_cbkiulu\Zy gZ k_[_ kh\_jr_gghjZagu_ \hkiblZl_evgu_ \ebygby >_^ b [Z[mrdZ \h \k_f^_\hqd_ihlZdZebfZlv[ueZkljh]ZqZklhkgbfZeZlmnexb re_iZeZ?\mQ_j_ag_dhlhjh_ \j_fy fZlv `Ze_y ?\m hkuiZeZ __ eZkdZfb b eZdhfkl\Zfb iulZykv dhfi_gkbjh\Zlv ijbqbg_ggh_ aeh ^h[jhf Gh mki_oZ g_ ijbghkbeb gb kljh]hklb gb ih[eZ`db ?\Z [ueZ g_h[udgh\_gghmijyfZihklhygghiulZeZkvihklZ\blvgZk\h_fb qZklh^Z`_[jhkZeZkvgZihe Dh]^ZfZlvaZ^_eh`mjbeZ^_\hqdmwlh\uau\Zeh\ g_clhevdhjZa^jZ`_gb_b aehklvH^gZ`^u ?\Zp_emxg_^_exg_jZa]h\Zjb\ZeZk fZl_jvxbaaZlh]hqlhlZk^_eZeZ_caZf_qZgb_aZiehoh \ul_jlmx ihkm^m Dh]^Z ?\Z aeblky gZ fZlv hgZ g_ h[jZsZ_lky d g_c k ijhkv[Zfb g_ihkj_^kl\_ggh Z i_j_^Z_l bo q_j_a klZjrmx k_kljm iulZykv ^h[blvky k\h_]h ?\Z hq_gv ex[bl iho\Zem b _keb \ q_fgb[m^v ijhy\bl klZjZgb_ \k_]^Z `^_l __ dZd emqr_c gZ]jZ^u H^gZ`^u jZahaeb\rbkv ?\Z g_^_ex g_ \klZ\ZeZ k ihkl_eb g_ ih^gbfZeZkv ^Z`_ ih_klv lj_[my qlh[u dmrZgvy _c ih^Z\Zeb \ ihkl_ev FZlv kgZqZeZ g_ kh]eZrZeZkv gZ lZdh_ ©h[kem`b\Zgb_ªgh\ dhgp_dhgph\mklmibeZ©G_[m^m`_y fhjblv__ ]heh^hfª²aZy\beZhgZ \ k\h_ hijZ\^Zgb_ BlZd fZlv b ^_\hqdZ ihklhyggh kihjbeb ^jm] k ^jm]hf ijb wlhf \ kihj_ h[uqgh ih[_`^ZeZ ?\Z lZd dZd hgZ hklZ\ZeZkv g_ij_dehgghc Z fZlv \k_]^Z mklmiZeZ IZlheh]bq_kdb_ijhy\e_gbygZqZebkvm ?\u\ ²]h^Zb hkh[_gghyjdhgZqZebkdZau\Zlvky dh]^Zjh^bekyfeZ^rbc[jZlbd?\Zk kZfh]hgZqZeZhlg_keZkvd _]hihy\e_gbxhljbpZl_evgh [jhkZeZjZagu_ij_^f_lu\ dheykhqdm]^_hge_`ZeDh]^ZfZexld_[ueh^g_chgZk kbehc mldgmeZ _]h ebqbdh \ ih^mrdm Z ih^[_`Z\r_c fZl_jb kdZaZeZ ©Wlh y ^ey lh]h qlh[u hg aZkgmeª < ihke_^mxsb_ ]h^u ?\Z lZd`_ hlghkbeZkv d fZe_gvdhfm [jZlbdm \jZ`^_[gh Dh]^Z fZevqbdm [ueh ]h^Z hgZ \a^mfZeZ aZklZ\blv _]h \ah[jZlvky gZ i_jbeZ [ZedhgZ ² fZevqbd e_]dh fh] miZklv \gba ?\Z ki_pbZevgh ih^klZ\beZ klme b ijh^_fhgkljbjh\ZeZ _fm dZd gZ^h klZ\blv gh`db b dZd ih\_jgmlvky FZl_jb hgZ kdZaZeZ ©: imkdZc iZ^Z_l ih djZcg_c f_j_ hg lh]^Zmfj_lªDh]^Z?\_[uehe_lhl_paZklhehfjZkkdZau\ZeqlhijhqblZe\ ]Za_l_klZlvxh \j_^ghcijb\uqd_[jZlv\ jhlb `_\Zlvp\_lhqgu_ e_i_kldb \ klZlv_ih^q_jdb\Zehkv qlh wlh fh`_l ijb\_klb d hiZkguf ihke_^kl\byf ?\Z \_kvfZ \gbfZl_evgh kemrZeZ Q_j_a ^\Z ^gy __ ihcfZebgZlhfqlhhgZaZibob\ZeZ[jZlm\ jhldmqmp\_lhqguoe_i_kldh\< ^_lkdhfhl^_e_gbb debgbdb ?\Z ihklhyggh ij_^ty\eyeZ k\hb lj_[h\Zgby Z _keb d gbf g_ ijbkemrb\Zebkv klZgh\beZkv haeh[e_gghc < b]ju k ^jm]bfb ^_lvfb \dexqZeZkv k ljm^hf Ex[hiul_g h^bg nhlhkgbfhdk^_eZgguc\ debgbd_?\Zkfhljblbkih^eh[vy\ujZ`_gb_ebpZm g__oZjZdl_jgh_ ² ihegh_ aZlZ_gghc aeh[u Fu ^h[b\Zebkv lh]h qlh[u h[jZs_gb_ k g_c [ueh ij_^_evgh jh\guf >_\hqdZ ijbkihkh[beZkv d wlhfm j_`bfm b hkh[uo ljm^ghkl_c fu \ k\yab k __ ih\_^_gb_fg_hsmsZebHgZ^Z`_klZjZeZkvijhba\_klbohjhr__\i_qZle_gb_ G_khfg_ggh qlh m wlhc ^_\hqdb ©fZylgbdh\h_ª \hkiblZgb_ kdZaZehkv \ __ ihkl_i_gghf khijhlb\e_gbbfZl_jbhebp_l\hjy\r_c\ \hkiblZl_evghfijhp_kk_kljh]h_gZqZeh<ijhq_fb fZlv [ueZ g_ihke_^h\Zl_evgZ \g_aZigh klZgh\beZkv ^h[jhc gZqbgZeZ `Ze_lv ^hqdm Jh\gh_ ihklhyggh_fy]dh_hlghr_gb_^_\hqdZijb\udeZ\k_]^Z\klj_qZlvlhevdhkhklhjhgu[Z[mrdb K ^jm]hcklhjhguke_^m_lmq_klvb g_h[uqghklv^eyr_klbe_lg_]hj_[_gdZlZdboj_ZdpbcdZd gZijbf_jfheqZgb_ih²^gybebmijyfh_e_`Zgb_\ ihkl_eb\ l_q_gb_g_^_ebk l_fqlh[u ijhlb\hihklZ\blvfZl_jbk\hx \hex <kihfgbf lZd`_ qlh \h fgh]bo ©ih_^bgdZoª k fZl_jvx j_[_ghdhdZau\Zekykbevg__b ih[_`^Ze<k_ih^h[gu_fhf_gluljm^ghh[tykgblvh^gbfebrv g_ijZ\bevguf \hkiblZgb_f ijboh^blky ijb\e_qv ijb ZgZeba_ b oZjZdl_jgu_ q_jlu aZklj_\Zxs_]h lbiZ Lh `_ hlghkblky b d ly`_euf ^Z`_ hiZkguf j_Zdpbyf j_\ghklb k\yaZggufk feZ^rbf[jZlhfBa\_klghqlh^_lbqZklhj_\gmxljh^bl_e_cd feZ^rbf[jZlvyf b k_kljZf gZijbf_j gZjhqgh fhqZlky \ rlZgbrdb qlh[u \ua\Zlv aZ[hleb\h_ hlghr_gb_ fZl_jb d k_[_ Ghj_\ghklv lZdhc ]em[bgub ^ebl_evghklb dZd m ?\u \k_ `_ gZ^h kqblZlv ba jy^Z \hg \uoh^ys_c Hkh[_ggh wlh aZklj_\Zxs__ gZijy`_gb_ Znn_dlZ [jhkZ_lky \ ]eZaZ \ wibah^_ k p\_lhqgufb e_i_kldZfb AZklj_\Zgb_ Znn_dlZ ² hkgh\ghc f_oZgbaf hibku\Z_fuo j_Zdpbc²kdZaZehkvb \h\j_fyij_[u\Zgby\ debgbd_Iheh`_gb_ghjfZebah\Zehkv[eZ]h^Zjy ijbf_g_gbxihke_^h\Zl_evgh]hj_`bfZb e_q_gbyWlhg_fh]ehg_hljZablvkyiheh`bl_evghgZ ikbobd_ k_fbe_lg_]h j_[_gdZ <hafh`gh ?\Z \ihke_^kl\bb klZg_l ebrv lbibqghc Zdp_glmbjh\Zgghc ebqghklvx b iZjZghcyevgZy ikbohiZlby g_ jZah\v_lky IZjZghbq_kdbc Znn_dlijhy\eyxsbcky\h\jZ`^_[ghklbfh`_lijb [hevr_c ]em[bg_ klZlv djZcg_hiZkguf Ih^l\_j`^_gb_f fh]ml kem`blv kemqZb m[bckl\Z gZ ihq\_ j_\ghklb < gZr_f dhee_dlb\ghf ljm^_ fghc hibkZg m[bcpZ j_\ghklv dhlhjh]h ^hklb]eZ kl_i_gb [j_^Z < ^Zevg_cr_f y bf_e \hafh`ghklvgZ[ex^Zlv_]h\ debgbq_kdbomkeh\byoIjhy\e_gb_aZklj_\Zxsboq_jloZjZdl_jZ ijbh[j_lZeh m g_]h \ujZ`_ggu_ nhjfu ijhbkoh^beb ihklhyggu_ dhgnebdlu k \jZqZfb b f_^i_jkhgZehflZddZdhgkqblZeqlh[_a\kydbohkgh\Zgbchij_^_e_g\ debgbdmb qlh\hh[s_ hdjm`Zxsb_ hlghkylky d g_fm g_kijZ\_^eb\h F_kypZfb hg hldZau\Zeky hl\_qZlv gZ \hijhku \jZq_c \j_f_gZfb g_ ohl_e ijbgbfZlv ibsm H[ wlhf h[ke_^m_fhf y g_ ijb\h`m a^_kv ^_lZevguo ^Zgguo ihkdhevdm gZ[ex^_gby ihdZaZeb \ kljmdlmj_ _]h ebqghklb ijbf_kv bkl_jbq_kdh]h dhfihg_glZ < _]h j_Zdpbyo ijhl_klZ [ueh g_qlh mljbjh\Zggh_ gZb]jZggh_ iha_jkdh_<_jhylgh\ `_klhdhklbkh\_jr_ggh]hbfij_klmie_gbyku]jZehba\_klgmxjhevb lh qlh iZjZghbq_kdbc Znn_dl \uklmibe \ khq_lZgbb k j_Zdpb_c lbiZ dhjhldh]h aZfudZgby k\hckl\_gghc ebqghklyf bkl_jbq_kdh]h lbiZ Gb`_ y hibku\Zx ^jm]h]h iZjZghbq_kdh]h m[bcpm dhlhjuc klZe `_jl\hc jZ[kdhc ex[\b d h^ghc `_gsbg_ b baaZ wlh]h m[be ^jm]mx hlghr_gbyk dhlhjhcij_iylkl\h\Zebkh_^bg_gbxk ex[bfhc Ohjkl<]h^Zbak_fvb^_eh\uok_jv_aguoex^_cHl_p\gZqZe_[uedZf_gsbdhfkh \j_f_g_f klZe ki_pbZebklhf ih dZevdmeypbb FZlv \ \hcgm \ueZ dhjfbebp_c k_fvb K_kljZ [hevgh]h ² ohjhrbc ki_pbZebkl < g_ [ue \ k_fv_ bkdexq_gb_f jZ[hlZy dZf_gsbdhf hg mqbekyklZel_ogbdhfQ_jluaZklj_\Zgby²^hkh\_jr_gbym[bckl\Z²ijhy\eyebkv\k_]^ZdZd iheh`bl_evgh_gZqZeh < \ex[beky \ `_gsbgm k g_ hq_gv ohjhr_c j_imlZpb_c b ih _]h kh[kl\_gghfm \ujZ`_gbx©ihr_ed g_c\ dZ[Zemª< iehomxj_imlZpbx__ <g_\_jbeKm^yihhibkZgbyf ij_^f_lhf wlhc ex[\b [ueZ `_gsbgZ k ^_fhgkljZlb\ghc Zdp_glmZpb_c ebqghklb dhlhjZy g_kfhljy gZ k\hc [h]Zluc k_dkmZevguc hiul jZau]ju\ZeZ ba k_[y g_\bgghklv \hkiueZ\rmx kljZklguf qm\kl\hf d gZr_fm [hevghfm Qm\kl\h < d wlhc `_gsbg_ g_ fh]eh ijhl_dZlv kihdhcgh hg \ex[beky \ g__ [m^mqb m`_ h[jmq_gguf k ^jm]hc `_gsbghc m dhlhjhc [ue j_[_ghdhlg_]h<f_lZekyhlh^ghc`_gsbgud ^jm]hcjZa^bjZ_fucijhlb\hj_qbyfbk h^ghc klhjhgu²qm\kl\hhl\_lkl\_gghklbi_j_^fZl_jvxj_[_gdZk ^jm]hc²[_amfgZykljZklvHg bkdj_gg_ohl_e`_gblvkygZlhck dhlhjhc[ueh[jmq_gghfukevh[hldZa_hl^jm]hc[ueZ^ey g_]hg_\ughkbfZHg^mfZeb hjZaemd_k fZl_jvxk\h_]hj_[_gdZghbkiulu\Zekbevgucklu^ i_j_^kh[kl\_gghck_fv_chkh[_gghi_j_^hlphfdhlhjh]hkqblZeh[jZaphffhjZebDhgqbehkv l_fqlhhg^h]h\hjbekyk `_gsbghck dhlhjhc[ueh[jmq_gh \klj_q_gZimklugghffhjkdhf [_j_]m b a^_kv __ mlhibe Dh]^Z y klhedgmeky k wlbf [hevguf hg m`_ \hr_e \ khklhygb_ ^_ij_kkbb b ihgbfZe qlh kh\_jrbe g_qlh g_ihijZ\bfh_ Ohly hg k m`Zkhf ]h\hjbe h k\h_f kljZrghf ij_klmie_gbb \ _]h ^_ij_kkb\ghf lhg_ \k_ `_ fhf_glZfb a\mqZeb ghlu aZghkqb\hklbkZfh\hko\Ze_gbyBawlh]hfh`ghk^_eZlv\u\h^qlhiZlheh]bq_kdh_jZa\blb_m ^Zggh]h [hevgh]h reh \ klhjhgm wdkiZgkb\gmx Z g_ i_jk_dmlhjgmx l _ qlh < [hevr_ hlebqZeky qj_af_jgh jZa^mluf q_klhex[b_f q_f ij_m\_ebq_gghc mya\bfhklvx <hafh`gh bf_ggh\ kbemlZdhcgZ^f_gghklbb khagZgbyk\h_]hij_\hkoh^kl\ZgZ^^jm]bfb<\hh[s_[ue kihkh[_gaZdjulv]eZaZgZlhqlhgZdZjlmihklZ\e_gZq_eh\_q_kdZy`bagv M <q_eh\_dZ\_kvfZp_e_mklj_fe_ggh]hjZa\beky`_klhqZcrbcZnn_dl\ k\yabk l_fqlh hgihklhygghjZaju\Zekyf_`^mex[h\vxd h^ghc`_gsbg_b qm\kl\hf^he]Zihhlghr_gbxd ^jm]hc H^gZ h[_sZeZ _fm hkms_kl\e_gb_ aZ\_lguo `_eZgbc ^jm]Zy \hiehsZeZ ]hj_qv jZahqZjh\ZgbyJZkdZqb\Zykvb ih^gbfZykv\ \ukhlmh[Zqm\kl\Z²©[_amfgZyex[h\vªd h^ghc b g_gZ\bklv d ^jm]hc ² \k_ [hevr_ \a\bgqb\Zebkv Lhevdh ebrv ex[h\v d h^ghc `_gsbg_ gbdh]^Z g_ lhedgmeZ [u _]h gZ m[bckl\h ^jm]hc Lheqdhf d ly`dhfm ij_klmie_gbx hdZaZeZkv g_gZ\bklvd lhcdhlhjZy\au\Zyd ^he]mf_rZeZhkms_kl\e_gbxf_qlukqZklvxG_h[eZ^Zc< q_jlZfb aZklj_\Zgby hg g_ klZe [u m[bcp_c Ke_^m_l ih^q_jdgmlv qlh \ ijbgpbi_ wlhl lbi Zdp_glmZpbb ebqghklb g_ bf__l gbq_]h h[s_]h k ij_klmighklvx Ij_`gyy `bagv kdeZ^ oZjZdl_jZ < aZklZ\eyxl ij_^iheh`blv qlh `bagv _]h dZd ]jZ`^ZgbgZ keh`beZkv [u \iheg_ ghjfZevgh _keb [u hg g_ klZe `_jl\hc kh[ulbc dhlhju_ hdZaZebkv lheqdhf d jZa\blbx aZ[he_\Zgby <ha[m^bfu_ebqghklb <_kvfZ kms_kl\_ggu q_jlu oZjZdl_jZ \ujZ[Zlu\Zxsb_ky \ k\yab k g_^hklZlhqghklvx mijZ\ey_fhklbHgb\ujZ`Zxlky\ lhfqlhj_rZxsbfb^eyh[jZaZ`bagbb ih\_^_gbyq_eh\_dZ qZklh y\eyxlky g_ [eZ]hjZamfb_ g_ eh]bq_kdh_ \a\_rb\Zgb_ k\hbo ihklmidh\ Z \e_q_gby bgklbgdlug_dhgljhebjm_fu_ih[m`^_gbyLhqlhih^kdZau\Z_lkyjZamfhfg_ijbgbfZ_lky\h \gbfZgb_ KZfhihgylb_\e_q_gbyfh`ghljZdlh\Zlvh[h[s_gghmkfZljb\Zy\ g_f]eZ\gufh[jZahf klj_fe_gb_d jZajy^d_\ [hevr_cf_j_nbabq_kdh]hq_ffhjZevgh]h^moh\gh]hk\hckl\Z<hl ihq_fm \ lZdbo kemqZyo fh`gh ]h\hjblv h iZlheh]bq_kdhc \eZklb \e_q_gbc Ijb ih\ur_gghc kl_i_gbj_Zdpbcwlh]hlbiZfuklZedb\Z_fkyk wibe_ilhb^ghcikbohiZlb_cohlyijyfZyk\yavk wibe_ikb_chlgx^vg_h[yaZl_evgZ<hafh`gh\ ^ZgghfkemqZ_kms_kl\m_lba\_klgh_koh^kl\h k ikbobq_kdbf kdeZ^hf [hevgh]h wibe_ikb_c gh \gmlj_gg_]h jh^kl\Z g_l gbdZdh]h J_Zdpbb \ha[m^bfuoebqghkl_cbfimevkb\gu?kebqlheb[hbfg_gjZ\blkyhgbg_bsml\hafh`ghklb ijbfbjblvky bf qm`^Z l_jibfhklv GZijhlb\ b \ fbfbd_ b \ keh\Zo hgb ^Zxl \hex jZa^jZ`_gghklb hldjulh aZy\eyxl h k\hbo lj_[h\Zgbyo beb `_ kh aehklvx m^Zeyxlky < j_amevlZl_ lZdb_ ebqghklb ih kZfhfm imklyqghfm ih\h^m \klmiZxl \ kkhjm k gZqZevkl\hf b k khljm^gbdZfb]jm[ylZ]j_kkb\ghr\ujyxlijhqvjZ[hlmih^ZxlaZy\e_gbyh[m\hevg_gbbg_ hl^Z\Zyk_[_hlq_lZ\ \hafh`guoihke_^kl\byoIjbqbgug_^h\hevkl\Zfh]mlhdZaZlvkykZfufb jZagufblhbfg_gjZ\blkydZdgZ^Zgghfij_^ijbylbbk gbfbh[jZsZxlkylhaZjieZlZfZeZ lhjZ[hqbcijhp_kkbog_mkljZb\Z_lEbrv\ j_^dbokemqZyoj_qvb^_lh ly`_klbkZfh]hljm^Z b[h \ha[m^bfu_ ebqghklb dZd ijZ\beh bf_xl kdehgghklv d aZgylbyf nbabq_kdbf ljm^hf b fh]mliho\ZklZlvkylml[he__\ukhdbfbq_fm ^jm]bfex^_cihdZaZl_eyfbJZa^jZ`Z_lboqZs_ g_ klhevdh gZijy`_gghklv ljm^Z kdhevdh fhf_glu hj]ZgbaZpbhggu_ < j_amevlZl_ kbkl_fZlbq_kdbo lj_gbc gZ[ex^Z_lky qZklZy i_j_f_gZ f_klZ jZ[hlu Ih f_j_ \hajZklZgby ]g_\Z ebqghklb k ih\ur_gghc \ha[m^bfhklvx hl keh\ h[uqgh i_j_oh^yl d ©^_eZfª l _ d jmdhijbdeZ^kl\m ;u\Z_l qlh jmdhijbdeZ^kl\h m \ha[m^bfuo ebqghkl_c hi_j_`Z_l keh\Z lZd dZd lZdb_ ex^b \hh[s_ g_ hq_gv kdehggu h[f_gb\Zlvky fg_gbyfb _keb g_ kqblZlv hl[hjguo jm]Zl_evkl\ <_^v h[f_g fg_gbyfb jZ\ghagZq_g h[f_gm fukeyfb Z mjh\_gv fure_gby lZdbo ex^_c^h\hevghgbahd>Zhgbb g_hsmsZxlihlj_[ghklb\ h[tykg_gbb²\_^vijbqbgZ]g_\Z b lZd ykgZ B \k_ `_ g_ kdZ`_rv qlh ihklmidb b ^_ckl\by wlbo bfimevkb\guo ex^_c hijhf_lqb\u kdhj__ gZh[hjhl bo ^hkZ^Z ih^kim^gh jZkl_l ihkl_i_ggh mkbeb\Z_lky b bs_l \uoh^ZjZajy^dbM`_h^gZbog_ih\hjhleb\hklvly`_eh\_kghklvh dhlhjhcj_qvihc^_lgb`_ g_kh\f_klbfZk [ukljhlhcj_ZdpbcGZ[ex^Z_lkykdhj__g_ihf_jgh_gZjZsb\Zgb_Znn_dlZq_f _]h \kiurdZ ihwlhfm \g_aZigu_ \aju\u ]g_\Z f_g__ oZjZdl_jgu ^ey lZdbo ex^_c ]hjZa^h lbibqg__ _]h fZkkbjh\Zggu_ ijhy\e_gby <ijhq_f qZklh b \ l_o kemqZyo dh]^Z j_Zdpby oZjZdl_jgZ bf_ggh k\h_c bgl_gkb\ghklvx lh`_ mihlj_[eyxl h[hagZq_gb_ \kiuevqb\hklv JZa^jZ`bl_evghklv dhlhjZy k\hckl\_ggZ lZd`_ b ohe_jbq_kdbf gZlmjZf m ihke_^gbo g_ hlebqZ_lky ih^h[gufb fZkkbjh\Zggufb j_Zdpbyfb hgZ [he__ [ukljhl_qgZ Dh]^Z k_j^blky ohe_jbd m g_]h kjZam `_ ijhy\ey_lky \hafms_gb_ ijhl_kl \ha[m^bfZy ebqghklv \ ih^h[ghf kemqZ_[u\Z_lg_klhevdh\ha[m`^_gZkdhevdhkhkj_^hlhq_gZgZZnn_dl_b lhqlhwlhlq_eh\_d jZkkljh_gqZklhfh`ghhij_^_eblvihh^ghcebrvfbfbd_GZijb_f_m \jZqZ²Z h[klZgh\dZ ijb_fZ \ha[m^bfuf ebqghklyf h[uqgh g_ijbylgZ ² hgb qj_a\uqZcgh kdmiu gZ keh\Z kb^yl m]jxfh ]ey^y i_j_^ kh[hc gZ \hijhku ihqlb g_ hl\_qZxl Bfimevkb\ghklv iZlheh]bq_kdh]h oZjZdl_jZhlghkblkylZd`_b d \e_q_gbyf \ madhf kfuke_ keh\Z <ha[m^bfu_ ebqghklb _^yl b ivxl \k_ ih^jy^ [_a jZa[hjm fgh]b_ ba gbo klZgh\ylky ojhgbq_kdbfb Zedh]hebdZfb Dh]^Z ohq_lky \uiblv hgb g_ ^mfZxl h[ hiZkghklb \g_aZigh]h hkljh]h hivyg_gby b h iZ]m[guo ihke_^kl\byo ^ey kem`_[gh]h ij_klb`Z ^ey k_f_cghc `bagb a^hjh\vy Kj_^b ojhgbq_kdbo Zedh]hebdh\ fh`gh gZclb g_fZeh \ha[m^bfuo ebqghkl_c Bfimevkb\gu bo ijhy\e_gby b \ k_dkmZevghc kn_j_ h^gZdh m fm`qbg wlh g_ hq_gv [jhkZ_lky \ ]eZaZ lZd dZd hgb [m^mqb g_mf_j_ggufb \ iheh\uo ihlj_[ghklyo qZklh ^ebl_evgh_ \j_fy g_ f_gyxl iZjlg_jrm [he__ lh]h ² ^h\hevgh ijhqgh d g_c ijb\yau\Zxlky <ijhq_f wlh g_ bf__l gbdZdh]h hlghr_gby d \_jghklbijhklhk ^Zgghc`_gsbghcbgklbgdlm^h\e_l\hjy_lkygZb[he__ihegh?keb`_lZdbo ex^_c ho\Zlu\Z_l \e_q_gb_ d ^jm]hc `_gsbg_ lh hgb [_a jZa^mfvy _fm ke_^mxl Hgb g_jZa[hjqb\u\ iheh\uok\yayohkh[_ggh\ xgu_]h^ub qZklhklZgh\ylkyhlpZfbfgh`_kl\Z \g_[jZqguo ^_l_c M `_gsbg lZd`_ qZklh gZ[ex^Z_lky ihklhygkl\h \ hlghr_gbb ba[jZggh]h iZjlg_jZm g_fheh^uo`_gsbgih^h[gufiml_fg_j_^dhmklZgZ\eb\Zxlky^ebl_evgu_iheh\u_ k\yab H^gZdh \ha[m^bfu_ ebqghklb ² fheh^_gvdb_ ^_\mrdb Z lZd`_ wibe_ilhb^gu_ ikbohiZldb \ xghf \hajZkl_ g_j_^dh iheghklvx ebr_gu fhjZevguo mklh_\ b e_]dh hl^Zxlky fgh]bf fm`qbgZf G_dhlhju_ wibe_ilhb^gu_ ikbohiZldb \klmiZxl gZ imlv ijhklblmpbb <hh[s_fhjZevgu_mklhb\ `bagb\ha[m^bfuoebqghkl_cg_b]jZxlkdhevdhgb[m^vaZf_lghc jhebIjb©[eZ]hijbylguoªh[klhyl_evkl\Zohgbg_j_^dhkh\_jrZxlg_q_klgu_ihklmidbb gZ ijbf_j [_jml lh qlh ©iehoh e_`blª M]heh\gu_ ij_klmie_gby wibe_ilhb^guo ikbohiZlh\ fm`qbg qZs_ \k_]h k\yaZgu k ]jm[ufb ZdlZfb gZkbeby M ih^jhkldh\ gZ[ex^Zxlky kemqZb bagZkbeh\Zgby^_\mr_dM \ha[m^bfuoebqghkl_ch[hboiheh\\ xghklbg_j_^dbbfimevkb\gu_ ih[_]b ba ^hfm G_j_^dh \ha[m^bfuo ih^jhkldh\ qlheb[h ^hfZ g_ mkljZb\Z_l Z ijhkl_crbf \uoh^hfbfdZ`_lkym^jZlvihj\Zlv\kyq_kdmxk\yavk ^hfhfBgh]^Zwlhkihkh[ba[_`ZlvgZ g_dhlhjh_\j_fyihk_s_gbyrdheuZ qlh[m^_l^Zevr_²^eygbog_bf__lagZq_gby>_\hqdb \h \j_fy lZdbo ih[_]h\ ihiZ^Zy \ [_^kl\_ggh_ iheh`_gb_ qZklh aZ\yau\Zxl k_dkmZevgu_ hlghr_gby k fm`qbgZfb FZevqbdb kh\_jrZxl \aehfu eb[h ^ey lh]h qlh[u q_fgb[m^v ih`b\blvky eb[h ijhklh \ ihbkdZo ghqe_]Z GZ[ex^Zxlky lZd`_ g_fhlb\bjh\Zggu_ ih[_]b qZs_\k_]hlh`_m ih^jhkldh\k e_]dh\ha[m^bfufbfimevkb\gufoZjZdl_jhf<ukdZau\Zgbyh[ wlhf\ ebl_jZlmj_fu\klj_qZ_fm Rbjf_jZIh^jhkldbbeb^_lbqZklhm_a`Zxl\ lZdbokemqZyo ^Ze_dh hl ^hfZ b aZ^_j`b\Zxlky \ f_klZo ©]^_ _klv gZ qlh ihkfhlj_lvª gh \ fhf_gl ih[_]Z lZdhc p_eb m gbo fh]eh b g_ [ulv Ihkdhevdm ebpZ k wibe_ilhb^gufb q_jlZfb oZjZdl_jZ h[eZ^Zxlijbfblb\gufbbfimevkZfblh\hafh`ghqlh\ gboijhkuiZ_lky^j_\gbcbgklbgdld [jh^y`gbq_kl\m ijhy\ey_lky ba\_qgZy `Z`^Z i_j_`b\Zgbc ijbgbfZxsZy hiylvlZdb k\hx ^j_\g_crmx nhjfm WlZ `Z`^Z ih[m`^ZeZ \hafh`gh dh]^Zlh ex^_c bkdZlv \k_ gh\u_ i_j_`b\Zgby b l_f kZfuf gZdZieb\Zlv `bag_gguc hiul < k\h_c dgb]_ ©Bgklbgdlu b i_j\bqgu_ bgklbgdluª y ijboh`m d aZdexq_gbx qlh ijbfblb\gu_ ^j_\gb_ bgklbgdlu ijhy\eyxlky ij_bfms_kl\_ggh \ ^_lkdhf \hajZkl_ Dh]^Z ij_klmighklv \hagbdZ_l gZ ihq\_ g_m^_j`bfh]h bgklbgdlZ hgZ ghkbl g_ kh\k_f h[uqguc oZjZdl_j Ohly \ha[m^bfZy ebqghklv kh\_jrb\rZy]jm[h_gZkbeb_ qZklh oZjZdl_jbam_lky dZd[_kk_j^_qgZy[_a^mrgZy Z ijbqbghc ij_klmie_gbykqblZ_lky`_klhdhklvlZdZyhp_gdZhkgh\ZgZgZg_ihgbfZgbbwlboex^_c:dlu gZkbeby m gbo \uau\Zxlky g_ [_a^mrb_f Z Znn_dlb\guf gZijy`_gb_f klj_kkhf < kihdhcghf khklhygbb wlb ex^b hlebqZxlky ijb\yaqb\hklvx aZ[hlylky h k\hbo ^_lyo ex[yl `b\hlguob g_j_^dh]hlh\uhdZaZlvex[mxihfhsvWlb^h[ju_qm\kl\ZkhpbZevgh]hihjy^dZm gbolhqghlZd`_dZdb ^mjgu_g_bkiulu\Zxllhjfh`_gbyH^gZdhkhpbZevguc^he]\ukr_]h ihjy^dZ²^eygbo\ h[s_fqm`^h_ihgylb_Hgbg_hkhagZxlqlhg_evayijh]meb\Zlvmjhdb qlhg_evay^h[_ah[jZabygZib\Zlvkyqlhijhimklblvohly[uh^bg^_gvgZjZ[hl_jZaj_rZ_lky lhevdhih\_kvfZm\Z`bl_evghcijbqbg_qlhi_j_^gZqZevgbdhfjZ[hlgbdh[yaZghlqblu\Zlvky Koh^kl\h ijhy\e_gbc wibe_ilhb^ghc ikbohiZlbb k baf_g_gbyfb oZjZdl_jZ wibe_ilbq_kdh]h ihjy^dZ ijhy\ey_lky _s_ b \ ly`_eh\_kghklb fure_gby M \ha[m^bfuo ebqghkl_c dhgklZlbjm_lky aZf_^e_gghklv fukebl_evguo ijhp_kkh\ AZljm^g_gh ^Z`_ \hkijbylb_ qm`bo fuke_clZdqlhqZklhijboh^blkyijb[_]Zlvd ^he]bfb ^_lZevgufh[tykg_gbyf^eylh]hqlh[u [ulv ijZ\bevgh ihgyluf bfb Hkh[_ggh [jhkZ_lky \ ]eZaZ aZf_^e_gghklv fure_gby lh]^Z dh]^Z h[ke_^m_fhfm gm`gh ohly [u g_fgh]h aZ^mfZlvky gZ^ hl\_lhf AZ^Z\Zy ijhkl_crb_ \hijhkuijboh^blkyih^he]m`^Zlvhl\_lZ?keb`_ij_^hklZ\blvlZdhfmq_eh\_dm\hafh`ghklv ]h\hjblv g_ i_j_[b\Zy _]h lh aZf_^e_gghklv ijhy\ey_lky \ qj_af_jghch[klhyl_evghklb Hgb jZkkdZau\Zxlh f_edboih^jh[ghklyo©jZafZau\ZxlªboZ gZbgnhjfZpbxihkms_kl\mbo\k_ jZ\gh ijboh^blky ©gZ\h^blvª Bgl_ee_dlmZevgmx ly`_eh\_kghklv wibe_ilhb^guo ikbohiZlh\ fh`gh dZd ijZ\beh jZkihagZlv \ kZfhf ijhklhf jZa]h\hj_ gh hkh[_ggh ykgh hgZ \b^gZ ijb hijhkZo k p_evx ijh\_jdb bgl_ee_dlmZevgh]h mjh\gy LZd `_ m[_^bl_evgh ^hdZau\Z_lky ly`_eh\_kghklvfure_gbyb ijh[hcgZijh^mdlb\ghklvBkiulm_fhfmij_^eZ]Zxl\ l_q_gb_ fbggZa\ZlvdZdfh`gh[hevr_ij_^f_lh\GhjfZevgucq_eh\_dgZau\Z_lg_f_g__ihgylbc wibe_ilhb^guc ikbohiZl agZqbl_evgh hl g_]h hlklZ_l Ly`_eh\_kghklv fure_gby aZljm^gyxsZy b \gmlj_gg__i_ j_dexq_gb_ikbobdb fh`_l ijhy\blvky b \ i_^Zglbqghklb dh lhjZyh^gZdh^Ze_dhg_lZdq_ldhijhy\ey_lkym wibe_ilhb^guoikbohiZlh\dZdm [hevrbgkl\Z wibe_ilbdh\ ;he__ beb f_g__ q_ldh ijhy\eyxsb_ky ijbagZdb \ha[m^bfhc ebqghklb fh]ml g_kdhevdh k]eZ`b\Zlvky gZebqb_f ijbjh^gh]h mfZ h^gZdh g_ gZklhevdh qlh[u kgylv ^\b`msmx kbem bgklbgdlZ J_r_gb_ dhlhjh_ bfimevkb\gufb ex^vfb ijbgbfZ_lky \ ghjfZevghfkhklhygbb©\ a^jZ\hfmf_ªke_^mxsbc`_ijbklmiwfhpbhgZevgh]h\ha[m`^_gby fh`_l k\_klb gZ g_l Hkh[_ggh aZ f_lgh wlh m \ha[m^bfuo ^_l_c Fh`gh ijbeZ]Zlv ex[u_ mkbeby \au\Zlv d [eZ]hjZamfbx g_hlklmigh \_klb gZf_q_ggmx lZdlbdm ² b \k_ `_ \hkij_iylkl\h\Zlv ijhy\e_gbx bfimevkb\guo j_Zdpbc g_\hafh`gh Gb \ h^ghf ba kemqZ_\ Zdp_glmZpbb ^jm]h]h jh^Z \hkiblZl_evgh_ \ha^_ckl\b_ g_ y\ey_lky klhev ljm^gh^hklb`bfuf <hafh`gh wlh ijhbkoh^bl \ kbem lh]h qlh kZfZ kn_jZ bgklbgdlh\ dhlhjZy ihjh`^Z_l bfimevku hklZ_lky g_^hklmighc ^ey \hkiblZl_evguo f_jhijbylbc <ijhq_f ih f_j_ khaj_\Zgby ebqghklb gZ[ex^Z_lky g_dhlhjh_ memqr_gb_ Ijb jZaebqguo \ha[m`^_gbyo b ©kh[eZagZoª ih\k_^g_\ghc `bagb m wlbo ex^_c hdZau\Z_lky ^hklZlhqgh kZfhdhgljhey qlh[u m^_j`Zlvky hl [_a jZkkm^kl\Z B ebrv ijb g_h[uqguo hkljuo Znn_dlb\guo gZ ijy`_gbyo kZfhdhgljhevbkq_aZ_lH[sb_q_jlum wibe_ilhb^guoikbohiZlh\b wibe_ilbdh\gZ[ex^Zxlky g_ lhevdh \ ikbobd_ QZklh m gbo hlf_qZ_lky Zle_lbq_kdh_ l_ehkeh`_gb_ HlebqZykv [hevrhc nbabq_kdhc kbehc \ha[m^bfu_ ebqghklb \ khklhygbb Znn_dlZ fh]ml klZgh\blvky a\_jkdb `_klhdbfb²\_^vm`_ih^\ebygb_fh^gh]hebrvZnn_dlZnbabq_kdZykbeZ\hajZklZ_lQlh[u ij_^klZ\blv dZjlbgm dZd fh`gh [he__ q_ldh y \ ba eh`_gbb dZkZeky ihdZ g_ klhevdh \ha[m^bfuo ebqghkl_c kdhevdh wibe_ilhb^guo ikbohiZlh\ Ihwlhfm dZd i_j\uc ijbf_j y hibku\Zx h[ke_^m_fh]h dhlhjh]h g_evay [_ah]h\hjhqgh hlg_klb d ikbohiZlZf g_kfhljy gZ gZebqb_m g_]hoZjZdl_jguo^eygboq_jl O_evfml ;]jh`^ihijhn_kkbbbklhjbd< rdhe_mqbekyohjhrhIhhdhgqZgbb \maZ ihemqbe ki_pbZevghklv ]_jfZgbklZ b bklhjbdZ jZ[hlZ_l \ gZmqghbkke_^h\Zl_evkdhf bgklblml_ @_gZl k ] bf__l ^\hbo ^_l_c M ; m`_ ^Z\gh gZf_qZ_lky kdehgghklv d bfimevkb\guf j_Zdpbyf gh \ ijbkmlkl\bb ihklhjhggbo ebp hg h[uqgh k^_j`b\Z_lky Hq_gv ]jm[\ h[jZs_gbbk `_ghck ^_lvfbkhjbljm]Zl_evkl\Zfbgh^hgZkbeby^_ehg_^hoh^bl?keb _fm g_ m^Z_lky ©kbevgh hlj_Z]bjh\Zlvª lh hg \k_ jZ\gh bs_l kihkh[Z ©jZajy^blvkyª klmqbl dmeZdZfbihklhemj\_lb jZa[jZku\Z_lk\hb^_eh\u_[mfZ]b\u[_]Z_lba^hfmEx[Zyf_ehqv kihkh[gZ\ua\Zlvm ;khklhygb_Znn_dlZ< fZ]Zabg_gZijbf_jkh\k_f dhjhldh_ h`b^Zgb_ \ hq_j_^b ^h\h^bl _]h ^h lZdh]h jZa^jZ`_gby qlh hg g_ kihkh[_g k^_j`Zlvky Ijb dhgnebdlZo ^_eh g_j_^dh ^hoh^bl ^h bklhrguo djbdh\ ; hkm`^Z_l k\h_ g_^hklhcgh_ ih\_^_gb_ gh g_ fh`_l^_j`Zlvk_[y\ jmdZoG_kdhevdhjZaiulZekyih^Z\eylv\hafms_gb_Zedh]he_f<h\j_fy ^ebl_evguo dhgnebdlh\ jZa^jZ`bl_evghklv ; m\_ebqb\ZeZkv _s_ b \ k\yab k l_f qlh hg ebrZekykgZ< khklhygbb\ha[m`^_gbyb ihke_g_]hg_j_^dh\iZ^Ze\ ^_ij_kkbxlZbefukebh kZfhm[bckl\_ < debgbd_ \h \j_fy ijb_fZ h[ke_^m_fuc iheghklvx hkhagZ\Ze k\hx iZlheh]bq_kdmx \ha[m^bfhklv [ue ih^Z\e_g _x Kdehgghklv d kZfhm[bckl\m hdZau\ZeZkv lh k\h_h[jZaguf\ujZ`_gb_f\ha[m`^_gbylZddZdihke_^g__ijhy\eyehkvg_lhevdh\ ]g_\_ghb \ ^_ij_kkbblhghkbeZoZjZdl_jj_Zdpbb;ijbeZ]Zefgh]hklZjZgbcqlh[uklZlvk^_j`Zgguf Hgg_h^ghdjZlghih^Z\eyejm]Zl_evkl\Z]hlh\u_\hl\hlkhj\Zlvkyk yaudZG_kfhljygZ\ukhdh jZa\bluc bgl_ee_dl ; \ [_k_^Zo k gbf kdZau\ZeZkv aZf_^e_gghklv aZlhjfh`_gghklv ?]h fukeb qZklh mihjgh b g_ijh^mdlb\gh djm`bebkv \hdjm] dZdhclh ih[hqghc l_fu i_j_dexqblvkygZ]eZ\gh__fm[uehg_e_]dhIjb\uibkd_badebgbdb;l\_j^h\_jbeqlh_fm m^Zklky \ [m^ms_f kijZ\blvky k kh[hc B ^_ckl\bl_evgh ihke_ \uibkdb ; ba klZpbhgZjZ dhgnebdlh\\ bgklblml_klZehagZqbl_evghf_gvr_ I_j_^ gZfb h[ke_^m_fuc khq_lZxsbc e_]dmx \ha[m^bfhklv kh kdehgghklvx d Znn_dlb\guf\aju\Zf?kebqlheb[hijhlb\hj_qbl_]h`_eZgbyf_]h\k_kbevg__ho\Zlu\Z_l \gmlj_gg__ jZa^jZ`_gb_ lj_[mxs__ jZajy^db Lh qlh iZjZee_evgh kh \kiurdZfb ]g_\Z ijhy\eyxlky q_jlu ^_ij_kkbb ² y\e_gb_ h[uqgh_ M g_dhlhjuo \ha[m^bfuo ebqghkl_c khklhygb_ ikbobq_kdh]h jZkkljhckl\Z g_j_^dh ghkbl ^_ij_kkb\guc oZjZdl_j qlh lhedZ_l bo \ dhg_qghfblh]_d kZfhm[bckl\m>_ij_kkb\gZygZkljh_gghklvlj_[m_ljZajy^db\ lZdhc`_f_j_ dZd b \ha[m`^_gb_ F_^ebl_evghklv fure_gby m ; g_kfhljy gZ jZa\blhklv bgl_ee_dlZ ih^l\_j`^Z_l gZebqb_ Zdp_glmZpbb K ^jm]hc klhjhgu m g_]h gZf_qZ_lky b \hafh`ghklv dhfi_gkZpbb ZghfZevghc ]hlh\ghklb d hij_^_e_gguf j_Zdpbyf H[ke_^m_fuc \k_ `_ g_ [ue iheghklvx \h \eZklb k\hbo wfhpbc IhdZ g_ ijb[Z\beZkv ^hihegbl_evgZy gZ]jmadZ \ \b^_ dhgnebdlh\ hg kihkh[_g [ue \eZ^_lv kh[hc WfhpbhgZevgZy \ha[m^bfhklv ; g_ ihkem`beZ ij_iylkl\b_flZd`_b dijh^\b`_gbxihkem`[_Ihke_e_q_gbyhg\_jgmekygZij_`g__f_klh jZ[hluM ke_^mxs_]hh[ke_^m_fh]hikbobq_kdZyaZ\bkbfhklvhlwfhpbcb \e_q_gbc\ujZ`_gZ [he__yjdhghb _]hkhklhygb_\ hkgh\ghfg_\uoh^blaZij_^_eughjfu DeZmk R ] jh`^ < rdhe_ mqbeky ohjhrh gh qZklh f_gye f_klh mq_[u qlh kdZau\ZehkvgZmki_\Z_fhklbIhijhn_kkbbhgij_ih^Z\Zl_evwdhghfbdbohly\ k\h_\j_fyg_ kfh] ^h\_klb ^h dhgpZ ^biehfguc ijh_dl I_j_]jmadZ ih f_klm jZ[hlu ls_lgu_ ihbkdb d\Zjlbju²\k_wlh^h\h^beh_]h^hhlqZygby< ihju\_hlqZygbyhgh^gZ`^u\u[behdhggh_ kl_deh\ ^jm]hcjZar\ujgme\ kl_gmly`_emxq_jgbevgbpmDh]^Z`_gZaZ]h\hjbeZh debgbd_ hg \gZqZe_ hq_gv \hafmlbeky gh iha^g__ kh]eZkbeky < debgbd_ R jZkkdZaZe qlh d k\h_c ijhn_kkbb hg ijbr_e g_ ijyfuf iml_f KgZqZeZ ^mfZe klZlv om^h`gbdhf gh aZl_f \ g_f aZ]h\hjbebi_^Z]h]bq_kdb_kdehgghklbH^gZdhb gZwlhfihijbs_hgmki_em`_g_kdhevdhjZa baf_gblvmdehg< e_lhgm[_`Zeba^hfmqlh[uihklmiblv\ bghkljZgguce_]bhgghq_j_a g_kdhevdh^g_c\_jgmeky\ k_fvx< [jZd_²ihklhyggu_klhedgh\_gbyfh`_lm^Zjblv`_gmih ebpmH^gZ`^uba[beih`beh]hijhoh`_]haZlhqlhlhlydh[ug_m\Z`bl_evghh[jZlbekyd _]h l_s_ Ihke_ ih^h[guo \uiZ^h\ \k_]^Z bkiulu\Z_l ]em[hdbc klu^ Ij_ih^Z\Zl_e_f kqblZ_lky ohjhrbf gh g_kdhevdh i_^Zglbqguf <h \j_fy [_k_^u qZklh hklZgZ\eb\Z_lky ih^ukdb\Zy gm`gh_keh\hnhjfmebjh\dm < debgbd_ hlebqZeky hkh[hc f_^ebl_evghklvx < ijh[_ gZ ijh^mdlb\ghklv gZa\Ze ihgylbc G_kdhevdh jZa h[gZjm`b\Ze j_admx jZa^jZ`bl_evghklv h^gZdh ihke_ jZatykg_gby b m\_s_\ZgbcRijbagZ\Zek\hxg_ijZ\hlmIjb\uibkd_\_jbe\ lhqlhh[j_l_lkZfhh[eZ^Zgb_ Fu \b^bf b gZ ijbf_j_ R dZd ljm^gh lZdbf ex^yf kijZ\eylvky k h[mj_\Zxsbf bo \ha[m`^_gb_f F_^ebl_evghklv fure_gby ih^l\_j`^Z_l gZebqb_ Zdp_glmbjh\Zgghc \ha[m^bfhklbH^gZdhihke_^gyy\ p_ehfg_f_rZ_lghjfZevghfmoh^m`bagbIjb\_^_fl_i_jv ijbf_j h[ke_^m_fh]h aehmihlj_[eyxs_]h Zedh]he_f hibkZggh]h Rbjf_jhf \ gZr_f dhee_dlb\ghfljm^_ <beeb I ]h^ ke_kZjv ih j_fhglm fZrbg Ba k_fvb ivygbp hl_p iv_l ib\h e_]dh \ha[m`^Z_lky g_mf_j_ggh ibe keZ[hmfguc [jZl fZl_jb ^_^ ih fZl_jb ² Zedh]hebd hlebqZxsbcky iZjhdkbafZfb ]g_\Z K fhf_glZ hdhgqZgby h[mq_gby I jZ[hlZ_l ih ki_pbZevghklbf_klhjZ[hluf_gy_lj_^dhIhke_iheh\h]hkhaj_\Zgbydhlhjh_gZklmibeh\ e_l j_adh baf_gbeky _]h oZjZdl_j >h wlh]h I [ue ijb\_leb\uf b kihdhcguf l_i_jv klZe e_]dh ijboh^blv \ yjhklv k^_eZeky ]jm[byghf I \k_]^Z fheqZeb\ ² b\ [m^gb b ijZa^gbdb Ex[bl qlh[u djm]hf pZjbe ihdhc ©lh]^Z b jZ[hlZ_lky ohjhrhª Eh`blky g_ iha^g__ q \klZ_l \ q fbg Ex[bl \ k\h[h^gh_ \j_fy \uihegylv jZagu_ ^hfZrgb_ jZ[hlu \ q_f ijhy\ey_l[hevrmxkghjh\dmHohlghihfh]Z_lkhk_^yfgZjm[blv^jh\keh`blvbo^_g_]aZwlh g_[_j_lIhhdhgqZgbbjZ[hlufheqZeb\ucb m]jxfuchlijZ\ey_]ky^hfhc©?]hgbdh]^Zg_ m\b^brv\_k_eufª²]h\hjblfZlvIe_]dhjZa^jZ`Z_lkyb lh]^Zjm]Z_lkydjbqblijboh^bl\ [_r_gkl\h ©Hlj_Z]bjh\Z\ª lZdbf h[jZahf fheqZ ijh^he`Z_l jZ[hlZlv GZ aZ\h^_ ihdZ ^h wdkp_kkh\g_^hoh^behgh\h\j_fyijbklmiZhg©\_kv^jh`blªjZ[hlZlvghjfZevghg_fh`_l ohlyb fheqbl?]hgZqZevgbdkhh[sbeqlhijbf_jghg_^_ebljbI©^_j`blkyªZ aZl_fkeh\gh ki_pbZevghbs_l ih\h^ ^ey kkhju KemqZ_lky qlh \ ijbiZ^d_ ]g_\Z [v_l `_gm Z ihlhf hq_gv `Ze__lh[wlhfIblvgZqZe\ ²]]< wlhli_jbh^hg[ue\h_gghie_gguf\hNjZgpbb b jZ[hlZem dj_klvygbgZ\bgh]jZ^Zjy©LZfk mljZ^hghqbibebdZd\klZgmllZdb gZqbgZxlª A^_kvIijb\udd \bgm<_jgm\rbkvgZjh^bgmhg]h^g_ibeaZl_fgZqZeiblv\h^dmb ib\h \bgh\ =>Jljm^gh [ueh^hklZlv<gZqZe_ibe \ ljZdlbj_ baj_^dZ Z aZl_f klZe iblv ^hfZ \ h^bghqdm< khklhygbbhivyg_gbyI [he__e_]dh\ha[m^bfq_f[m^mqblj_a\uf?]hgZau\Zxl ©[udhfª Hg jm]Z_lky g_p_gamjgufb keh\Zfb ba[b\Z_l `_gm @_gZ h[ wlhf jZkkdZaZeZ gZf k hiZkdhc©G_magZe[uZ lhm[v_lª M I \ha[m^bfuc oZjZdl_j ijhy\ey_lky \_kvfZ yjdh ?]h kdehgghklv d kbevguf \aju\Zf ]g_\Zkhq_lZ_lkyk h[s_cly`_eh\_kghklvxM]jxfh_ih\_^_gb_oZjZdl_jghm I^eyi_jbh^h\ ©aZlbrvyªH^gZdhm]jxfhklvg_h[yaZl_evgZ\ debgbd_gZijbf_jI[uekihdh_gb ^h\he_gk m^h\hevkl\b_f jZ[hlZe hg m khk_^_c hdZau\Zy bf ihfhsv \ ohayckl\_ ih kh[kl\_gghc bgbpbZlb\_ ;eZ]h^Zjy klZjZl_evghklb \ nbabq_kdhf ljm^_ y\gh ^hklZ\ey\r_f _fm m^h\hevkl\b_ \ ZkkhpbZevghf ih\_^_gbb I fgh]h_ k]eZ`b\Zehkv Ihkdhevdm ijhy\e_gby gZkbeby m I h[uqgh [ueb k\yaZgu kh aehmihlj_[e_gb_f Zedh]he_f fh`gh iheZ]Zlv qlh ijb hlkmlkl\bb wlh]h \ha[m`^Zxs_]h kj_^kl\Z hg [ue [u \iheg_ mjZ\gh\_r_gguf q_eh\_dhf < ^_lkl\_ kihkh[ghklv mijZ\eylv \e_q_gbyfb b wfhpbyfb ihgb`_gZ ^Z`_ m ghjfZevguo ^_l_c hkhagZgguc dhgljhev ihklmidh\ m gbo _s_ hlkmlkl\m_l <ke_^kl\b_ wlh]h hkh[_gghklb \ha[m^bfuo ebqghkl_c b wibe_ilhb^guo ikbohiZlh\ \ ^_lkl\_ ijhy\eyxlky hkh[_ggh j_adh Ijb\h`mijbf_jj_[_gdZhibkZggh]hJbol_jhf\ gZr_fkh\f_klghfljm^_ J_gZlZFihklmibeZ\ gZr_^_lkdh_hl^_e_gb_\ ]h^ZJ_gZlZ²\g_[jZqgucj_[_ghd FZlv\iheg_^h[jhihjy^hqgZyb ZddmjZlgZy`_gsbgZk^ZeZ__ \bgl_jgZlihlhf\ureZaZfm` k_cqZk bf__l ^\hbo ^_l_c Dh]^Z J_gZl_ [ueh ]h^Z __ m^hq_jbe jh^ghc hl_p q_eh\_d e_]dhfuke_gguck yjdbfbk_dkmZevgufbijhy\e_gbyfbD wlhfm\j_f_gbhgmki_e`_gblvkyb fZq_oZhq_gvijb\yaZeZkvd J_gZl_dh]^Zihy\bebkvljm^ghklbk \hkiblZgb_f^_\hqdbhgZ^Z`_ hklZ\beZjZ[hlmJ_gZlZjh^beZkvghjfZevgufj_[_gdhfghjZa\b\ZeZkvg_kdhevdhaZf_^e_ggh Hkh[_gghwlhhsmsZehkv\ jZa\blbbj_qbK q_luj_oe_lihk_sZeZ^_lkdbckZ^G_kfhljygZlh qlh d g_c hlghkbebkv ^hfZ hq_gv aZ[hleb\h hgZ g_kdhevdh jZa m[_]ZeZ \ ]hjh^ \f_klh lh]h qlh[ub]jZlv\ ^hf_beb\h^\hj_J_gZlZg_jyreb\Zk b]jmrdZfbh[jZsZeZkvg_[j_`ghWlh hq_gveZkdh\Zy^_\hqdZex[blijhy\e_gbyg_`ghklbgh\j_f_gZfb[u\Z_lm]jxfZM`_q_j_a ^\_ g_^_eb ihke_ ihklmie_gby \ rdhem gZqZebkv `Zeh[u mqbl_e_c J_gZlZ g_ ih^qbgyeZkv gbdZdbfijZ\beZf\h\j_fymjhdh\jZkoZ`b\ZeZihdeZkkmi_eZrZebeZm[_]ZeZ\ dhjb^hjGh \h\k_fwlhfdZdlhg_hsmsZehkv_kl_kl\_gghc^ey^_l_c`b\hklbrZehklb__[uebdZdb_lh g_mdex`b_Bgh]^ZJ_gZlZ\hh[s_g_ih^^Z\ZeZkvgbdZdhfm\ha^_ckl\bx< lZdb_i_jbh^uhgZ m[_]ZeZ ba rdheu beb ba ^hfm >_\hqdZ g_ h[tykgyeZ k\hbo ih[_]h\ ]h\hjbeZ lhevdh qlh ^mfZeZkdhjh\_jgmlvkyBgh]^ZhgZhiZa^u\ZeZgZaZgylbybeb\hh[s_g_ihy\eyeZkv\ rdhe_ G_h^ghdjZlghihebpby^hklZ\eyeZ__^hfhcMoh^yba^hfmbeb ba rdheu J_gZlZ[jh^beZ ih ]hjh^m jZkkfZljb\ZeZ \bljbgu fZ]Zabgh\ ;m^mqb \h \lhjhf deZkk_ hgZ gZqZeZ \hjh\Zlv g_[hevrb_ kmffu ba dhr_evdZ fZq_ob ihjhc b m ihklhjhggbo ex^_c >_gv]b moh^beb gZ \ha^mrgu_ rZjbdb fhjh`_gh_ fhehqguc dhdl_cev < fZ]Zabg_ kZfhh[kem`b\Zgby hgZ klZsbeZibjh`gu_< ijhklmidZogbdh]^Zg_khagZ\ZeZkvLhevdh m]jhahc ly`_eh]hgZdZaZgby fh`gh[ueh\ugm^blvm g__ijbagZgb_\bgu<hh[s_J_gZlZfgh]he]ZeZGZaZf_qZgby^_\hqdZ j_Z]bjh\ZeZ mijyfh b ^Z`_ \hafms_gjh gZdZaZgby gZ g__ g_ ^_ckl\h\Zeb <kdhj_ ihke_ hq_j_^gh]h kdZg^ZeZ hgZ gZqbgZeZ \_klb k_[y lZd keh\gh gbq_]h b g_ [ueh K ^_lvfb hgZ eZ^beZ m g__ [ueh g_kdhevdh ih^jm`_d Iheh`_gb_ klZgh\behkv \k_ om`_ ^_\hqdm gZdhg_p hlijZ\beb \ debgbdm J_gZlZ \ fhf_gl ihklmie_gby [ueZ \ukhdhc kljhcghc ^_\hqdhc ?_ ih\_^_gb_ g_ hlebqZehkv ihklhygkl\hf H[uqgh hgZ [ueZ mkem`eb\Z ijb\_leb\Z gh ihjmq_ggh_ ^_eh \uihegyeZ f_^e_ggh b djZcg_ g_[j_`gh Mfkl\_ggh_ jZa\blb_ __ g_kdhevdh gb`_ kj_^g_]h Bgh]^Z klZgh\beZkv m]jxfhc g_h[sbl_evghc < lZdhc fhf_gl fh]eZ ih[blv hdjm`Zxsbo j_[yl h^gZ`^u m^ZjbeZ [hevgmx ^_\hqdm \ `b\hl < wlh \j_fy \ b]jZo g_ mqZkl\h\ZeZgbdZdboihjmq_gbcg_\uihegyeZ< ^_lkdhc]jmii_bkdZeZdhglZdlh\khklZjrbfb fZevqbdZfbklZjZeZkvijb\e_qvbo\gbfZgb_ihdZau\Zykvi_j_^gbfbihemjZa^_lhc?keb`_ fZevqbdbih^oh^bebd g_chgZimkdZeZkvgZml_dk djbdhfqlhhgbohl_eb©ih^kfhlj_lvª G_ fh]eh [ulv b j_qb h lhf qlh hljbpZl_evgu_ klhjhgu oZjZdl_jZ J_gZlu y\eyxlky j_amevlZlhf g_ijZ\bevgh]h \hkiblZgby FZq_oZbkdj_gg_ ex[beZ ^_\hqdm hq_gv aZ[hlbeZkv h g_c Ih\_^_gb_ J_gZlu g_ baf_gbehkv b lh]^Z dh]^Z hgZ ihiZeZ \ jh\gu_ \hkiblZl_evgu_ mkeh\by gZr_]h ^_lkdh]h hl^_e_gby ?keb J_gZlm gbqlh g_ aebeh b hkh[h g_ kh[eZagyeh hgZ dZaZeZkv fbeuf j_[_gdhf k fy]dbf ^h[juf oZjZdl_jhf Wlh oZjZdl_jgh ^ey \k_o wibe_ilhb^guo ^_l_c Fu m`_ mihfbgZeb h lhf qlh ijb ^Zgghc kljmdlmj_ ebqghklb g_ bkdexq_gukhpbZevgu_dhglZdlu\iheg_q_eh\_qgu_wfhpbhgZevgu_j_ZdpbbH^gZdh]hjZa^h yjq_ ij_^klZ\e_gZ h[jZlgZy klhjhgZ ² J_gZlZ ihjhc hdZau\ZeZkv \k_p_eh \h \eZklb ZkhpbZevguo ih[m`^_gbc HgZ m[_]ZeZ ba ^hfm b ba rdheu dh]^Z _c \a^mfZ_lky ih kZfhfm imklydh\hfm ih\h^m HgZ \hjh\ZeZ qlh[u iheZdhfblvky keZklyfb b ijb wlhf e]ZeZ [_aZi_eeypbhggh ebrv [u hl\_klb hl k_[y ih^haj_gb_ AZ gZdZaZgb_f ke_^h\Zeb mijyfkl\h b ]g_\gu_j_ZdpbbAeykvgZ^jm]bo^_l_chgZg_aZ^mfu\Zykvba[b\ZeZboWlhl\hkvfbe_lgbc j_[_ghd g_ [ue qm`^ b k_dkmZevguo mklj_fe_gbc wibah^ kh klZjrbfb fZevqbdZfb Wibe_ilhb^gu_ q_jlu oZjZdl_jZ m ^_l_c \klj_qZxlky g_j_^dh < gZr_f ^_lkdhf hl^_e_gbb dm^Z ihklmiZ_l fgh`_kl\h ^_l_c k j_adbf hldehg_gb_f \ ih\_^_gbb \klj_qZebkv ^Ze_dh g_ d jZ^hklb \hkiblZl_e_c b \ha[m^bfu_ ebqghklb Bfimevkb\gu_ mijyfu_ j_Zdpbb ^_l_c kihkh[gu\ua\Zlv^h[jmxb kgbkoh^bl_evgmxmeu[dmebrvlh]^Zdh]^Zwlb^_lbagZqbl_evgh feZ^r_ J_gZlu Q_f klZjr_ j_[_ghd l_f keh`g__ [hjhlvky k _]h j Zkims_gghklvx < hlghr_gbb ^_l_c k lZdbf oZjZdl_jhf dZd m J_gZlu \klZ_l \hijhk h ^Zevg_cr_c bo km^v[_ <hkiblZl_evgh_ \ha^_ckl\b_ gZ wibe_ilhb^h\ \hh[s_ aZljm^g_gh Djhf_ lh]h hl_p J_gZlu hlghkblkyd lhc`_ikbobq_kdhcdZl_]hjbb\ha[m^bfuoebqghkl_cqlhb ^hqvMqblu\Zy\k_ wlh fu g_ fh`_f ^Zlv h[gZ^_`b\Zxs_]h ijh]ghaZ < i_jbh^ iheh\h]h khaj_\Zgby dh]^Z gZ q_eh\_dZ k hkh[hc kbehc h[jmrb\Z_lky \hegZ nbabq_kdbo \e_q_gbc ZkhpbZevgu_ ijhy\e_gby \ha[m^bfuo ebqghkl_c mkbeb\Zxlky L_ ebpZ dhlhju_ \ ^_lkl\_ dZaZebkv [he__ beb f_g__ mjZ\gh\_r_ggufb klZgh\ylky l_i_jv \uau\Zxs_ ]jm[ufb H[_ ^_\mrdb hibku\Z_fu_ gb`_ ihke_iheh\h]hkhaj_\ZgbyklZebhlebqZlvky\mev]Zjghklvxb ij_klmigufbkdehgghklyfb FZj]hl = ihy\beZkv m f_gy gZ ijbf_ \i_j\u_ \ e_l Hl_p ² ivygbpZ kdehgguc d ijbiZ^dZf \ha[m`^_gby \h \j_fy hivyg_gby gZijbf_j [v_l ihkm^m FZlv \ lZdb_ i_jbh^u aZibjZ_lhlg_]h^_l_c<ijhq_fhgZb kZfZ\uib\Z_lK_kljZh[ke_^m_fhclh`_Zedh]hebqdZ >\h___ [jZlv_\dZdb hl_pm`_g_kdhevdhjZahl[u\ZebgZdZaZgb_aZgZg_k_gb_ih[h_\KZfZ h[ke_^m_fZy²hkh[Zdj_idZy]jm[hkdhehq_ggZyhohlgh[_j_lkyaZly`_eucnbabq_kdbcljm^ Iv_l k e_l Dh]^Z kibjlgh]h m g__ g_l ohjhrh b mki_rgh ljm^blky < ^_lkl\_ h^bg jZa m[_]ZeZba^hfmgh\_jgmeZkvkZfZ^\Z`^um\h^beZqm`hc\_ehkbi_^b hklZ\eyeZ\ g_agZdhfhf f_kl_ M`_ [m^mqb \ajhkehc ^\Z`^u \hjh\ZeZ \_ehkbi_^u h[tykgyy wlh l_f qlh mdjZeb __ kh[kl\_gguc M fm`qbgu bkdZ\r_]h k g_c bglbfgh]h k[eb`_gby \ulZsbeZ ba ib^`ZdZ [mfZ`gbd k ^_gv]Zfb H[\bgy_lky \ djZ`_ ihjln_ey < k_dkmZevghc h[eZklb iZlheh]bq_kdb_ bgklbgdlug_ijhy\eyxlkyHkh[ufjZa\blb_fbgl_ee_dlFZj]hlg_hlebqZ_lkyghb ^_[bevghc __ gZa\Zlvg_evay<h\j_fyh[ke_^h\ZgbyhgZihdZaZeZk_[yg_ijb\_leb\hcm]jxfhckdmihcgZ keh\Z qlh lbibqgh ^ey wibe_ilhb^h\ ?s_ [hevr_ hgZ aZfdgmeZkv dh]^Z j_qv aZreZ h gZjmr_gbyo _x aZdhgZ GZkbeby hgZ g_ kh\_jrZeZ \b^bfh ihe kiZkZe __ hl lZdh]h jh^Z wibe_ilhb^guo j_Zdpbc \ lh \j_fy dZd hl_p FZj]hl b h[Z [jZlZ h[\bgyebkv bf_ggh \ gZkbevkl\_gguoij_klmie_gbyoba[b_gb_gZg_k_gb_m\_qbc =_j^ZJ]h^aZgbfZeZkvijhn_kkbhgZevguf\hjh\kl\hfm`_r_klvjZa[ueZaZ^_j`ZgZ k ihebqgufDjZ`bkh\_jrZeZh[uqghm fm`qbgk dhlhjufb[ueZ\ bglbfguohlghr_gbyoZ lZd`_ijb^jm]boh[klhyl_evkl\ZoG_j_^dhghq_\ZeZ\ ]hklbgbp_aZl_fmoh^beZg_aZieZlb\aZ ghf_j <h \j_fy kh[_k_^h\Zgby \ujZ`ZeZ djZcg__ g_m^h\hevkl\b_ H gZdZam_fuo ^_ygbyo gbq_]hg_ohl_eZ]h\hjblvMfkl\_ggh_jZa\blb_=_j^u\ ghjf_ Wibe_ilhb^uqZklh\klj_qZxlkykj_^bijhklblmlhdIhkdhevdm\e_q_gbym wibe_ilhb^h\ ij_h[eZ^Zxl gZ^ jZamfhf hgb qZk lh jZgh gZqbgZxl iheh\mx `bagv E_]dh [_a hkh[uo dhe_[Zgbc hgb kh]eZrZxlky gZ lh qlh[u bo k_dkmZevgu_ ihoh`^_gby klZeb bklhqgbdhf fZl_jbZevgh]h h[_ki_q_gby Kh\_jr_gb_ bfb djZ`b ² y\e_gb_ lZdh]h `_ oZjZdl_jZ dZd b [_kihjy^hqgZy iheh\Zy `bagv M wibe_ilhb^h\ih^jhkldh\ fm`kdh]h iheZ bfimevkb\gu_ ihklmidb[u\Zxl_s_hiZkg__ OZgkBhZobfP\ e_ldh]^Zy ihagZdhfbekyk gbfbf_em`_g_fZeuc`bag_gguchiul K h^bggZ^pZlbe_lg_]h\hajZklZqZklhm[_]Zeba^hfmaZl_f^hklZ\eyekyq_j_aihebpbxQZklh ijhimkdZe aZgylby \ rdhe_ GZ \u]h\hjZo aZ iehoh_ ih\_^_gb_ gZ jZkibkdZo aZ ihemq_gb_ [b[ebhl_qguodgb]ih^^_eu\Zeih^ibkbjh^bl_e_cG_j_^dho\ZklZeky\_sbqdZfbdhlhju_hg ydh[u ]^_lh gZr_e gZ kZfhf `_ ^_e_ hg bo djZe < e_l kh\_jrbe gZiZ^_gb_ k p_evx h]jZ[e_gby ^_gv]b _fm gm`gu [ueb qlh[u dmiblv [be_lu \ dbgh Wlh [ueh gZ mebp_ \ hl^Ze_gghc qZklb ]hjh^Z P gZ[jhkbeky kaZ^b gZ h^bghdh b^msmx `_gsbgm ih\Zebe __ gZ a_fex b hlgye kmfhqdm Ihke_ wlh]h _]h ihf_klbeb \ bgl_jgZl hldm^Z hg kdhjh k[_`Ze d [Z[mrd_ m dhlhjhc mdjZe g_kdhevdh khl fZjhd GZ wlb ^_gv]b hg ijbh[j_e jZ^bhijb_fgbd b [ZrfZdb AZl_f kgh\Z bgl_jgZl Z \ e_l ² kgh\Z ih[_] hllm^Z k lh\Zjbs_f <^\h_f hgb \aehfZeb]ZjZ`mdjZeb^\Zfhi_^Zb gZgbo\gh\vhlijZ\bebkvd [Z[mrd_GZwlhljZaPmdjZe m g__fZjhdgZdhlhju_gZdmibe\kydhc\kyqbguihjln_ev[m^bevgbd^\ZlhihjZr_klv klj_e gh` dZjlu [mfZ`gbd Ih fZjhd hg jZa^Ze rdhevguf lh\ZjbsZf hklZlhd ² fZjhd²kijylZe\ lmZe_l_Ijbf_jgh\ wlh`_\j_fyhgmdjZe\_ehkbi_^b jZat_a`ZegZg_fih ]hjh^m Dh]^Z y h[ke_^h\Ze OZgkZ hg [ue \ m]g_l_gghf khklhygbb gZ \hijhku hl\_qZe g_hohlghG_ohl_e]h\hjblvq_ldhohlyy ijhkbe_]hh[wlhfg_kdhevdhjZaNjZauijhbaghkbe hq_gvf_^e_gghkljhbebo]jhfha^dh< ijh[_gZijh^mdlb\ghklvhgaZfbggZa\Ze\k_]h ij_^f_lh\Bgl_ee_dlOZgkZ\ ghjf_ H[tykgyyijbqbgmfgh`_kl\Zk\hbom]heh\ghgZdZam_fuo\uoh^hdhgl\_j^beebrvh^gh ij_[u\Zgb_\ rdhe__fmg_gjZ\behkv^hfZhglh`_©g_fh][hevr_\u^_j`ZlvªZ ^_gv]b_fm [ueb gm`gu Dh]^Z y ihiulZeky jZa[m^blv _]h wfhpbb kijhkbe qlh `_ \ `bagb _fm fbe__ \k_]h hg kgZqZeZ _s_ [hevr_ gZkmibeky gbdh]h hg g_ ex[bl b gbqlh _]h g_ bgl_j_km_l ² lZdh\[uehl\_lGhihoh^m^Zevg_cr_]hjZa]h\hjZbf\k_[hevr_h\eZ^_\ZeZ^_ij_kkbyQlh m`_fml_i_jv]h\hjblvL_i_jv\k_dhgq_ghHgij_`^_hq_gvbgl_j_kh\Zekyobfb_cgh \_^v _kebk_cqZk\gh\vm]h^blaZj_r_ldmlh^eyki_pbZevgh]hh[jZah\Zgbyhl[u\kjhd[m^_lm`_ kebrdhf klZj < keh\Zo _]h qm\kl\h\Zehkv kbevgh_ \gmlj_gg__ \heg_gb_ \ wlb fbgmlu OZgkZ gbdZdg_evay[uehgZa\Zlv[_kqm\kl\_ggufq_jkl\uf Fu \b^bf qlh wlhl ih^jhklhd kh\_jr_ggh [_a\hevgh ih^^Z\Zeky l_f kh[eZagZf k dhlhjufb _]h klZedb\ZeZ `bagv Ke_^m_l hlf_lblv qlh m j_[_gdZ b ih^jhkldZ kn_jZ `_eZgbc \hh[s_ bkdexqbl_evgh Zdlb\babjh\ZgZ Qlh `_ ]h\hjblv h lZdbo ih^jhkldZo m dhlhjuo ijbkh_^bgy_lky iZlheh]bq_kdZy ih^\_j`_gghklv \e_q_gbyf dZd m \ajhkeh]h q_eh\_dZ k \ha[m^bfuf lbihf ebqghklb Ij_klmigh_ ^_ckl\b_ fh`_l [ulv \ua\Zgh lhevdh ]em[hdbf Znn_dlb\guf gZijy`_gb_f ij_^_evgh kbevguf jZa^jZ`_gb_f M OZgkZ wibe_ilhb^guc f_oZgbaf ih\_^_gby ih^l\_j`^Z_l ky b ly`_eh\_kghklvx fure_gby Kms_kl\_ggh lh qlh m g_]h m^Zehkv \ua\Zlv ghjfZevgu_ wfhpbb dhlhju_ ebrv ijbdju\Zebkv kn_jhc bgklbgdlh\ Wibe_ilhb^guo ij_klmigbdh\ \h \j_fy \jZq_[ghc wdki_jlbau qZklh ijbagZxl ©[_kqm\kl\_ggufbª Wlb \u\h^u q_j_kqmj ijyfhebg_cgu bkoh^y ba `_klhdhklb k dhlhjhc [ueh kh\_jr_gh ij_klmie_gb_ aZdexqZxl qlh ij_klmigbd ebr_g ghjfZevguo q_eh\_q_kdbo qm\kl\Wlh\i_qZle_gb__s_mkbeb\Z_lkydh]^Zwibe_ilhb^g_^h\hevghj_Z]bjm_lgZhijhkb k jZa^jZ`_gb_fhl\_qZ_llh]^Zdh]^Zke_^h\Zeh[u^_fhgkljbjh\Zlv]em[hdh_jZkdZygb_< lZdbo kemqZyo gm`gh mf_lv gZclb ih^oh^ ² ebrv lh]^Z m^Zklky ijbih^gylv aZ\_km gZ^ wfhpbhgZevghc `bagvx iZpb_glZ : q_eh\_q_kdh]h h[ebdZ g_ [ue ebr_g ^Z`_ lhl m[bcpZ d hibkZgbxdhlhjh]hy i_j_oh`m Ohjkl > ] jh`^ \i_j\u_ ih^\_j]Zeky \jZq_[ghc wdki_jlba_ ihke_ lh]h dZd \ k_fgZ^pZlbe_lg_f\hajZkl__^\Zg_ klZe hiZkgufij_klmigbdhf ihdmrZykv gZ`bagv klZjbdZ F_^bpbgkdbcwdki_jl^Zeke_^mxs__aZdexq_gb_©Bgl_ee_dlmZevgucmjh\_gv>g_\ukhdgh hg g_ ^_[be_g ;jhkZ_lky \ ]eZaZ [_a^mrb_ hlkmlkl\b_ ohly [u gZf_dZ gZ jZkdZygb_ \ k\h_f ij_klmie_gbb hg `Ze__l ebrv h[ h^ghf ² qlh gZ\k_]^Z ihiZ^_l ©aZ j_r_ldmª < rdhe_ h[ke_^m_fuc^\Z`^uhklZ\ZekygZ\lhjhc]h^Hl_p[uegZ\hcg_fZl_jbkijZ\blvkyk >[ueh g_ ih^ kbem <f_klh lh]h qlh[u oh^blv \ rdhem hg \hjh\Ze ijh^mdlu [_ev_ qZklh \k_ wlh i_j_ijh^Z\ZeIhiZe\ bgl_jgZl^eyfZehe_lgboij_klmigbdh\[_`Zehllm^ZH^gZ`^u\ iuem ^jZdb> ko\Zlbe `_e_agu_ ]jZ[eb b gZg_k bfb m^Zj ih ]heh\_ h^ghfm ba k\hbo ijhlb\gbdh\ Lhlk ly`_eufjZg_gb_f[uehlijZ\e_g\ [hevgbpmJZ[hlZe>qZklbqgh\ k_evkdhfohayckl\_ qZklbqgh gZ ijhba\h^kl\_ QZklh f_gye f_klh jZ[hlu fgh]h ibe < e_l mdjZe ba kmfhqdb klhy\r_c \ fZ]Zabg_ dhr_e_d k ^_gv]Zfb < e_l iulZeky jZkleblv fZehe_lgxx Dh]^Z > [ueh e_l hg ijh`b\Ze \ dhfgZl_ kh\f_klgh k e_lgbf klZjbdhf M gbo ijhbkoh^beb djmigu_kkhjuH^gZ`^uklZjbdh[\bgbe>\ djZ`__]hi_jqZlhddhlhju_kZf`_b iheh`be dm^ZlhLZdb_g_h[hkgh\Zggu_h[\bg_gby>keurZehlaZ[u\qb\h]hklZjbdZqZklhb aZlZbegZ khk_^Z aeh[m H^gZ`^u > m\b^_e \ jmdZo m klZjbdZ fZjhd <hc^y \kdhj_ ihke_ wlh]h \ dhfgZlm>aZf_lbeqlhklZjbd^j_fe_lm i_qdbHgko\Zlbeklhy\rmxih[ebahklbdhq_j]mb k kbehc m^Zjbe _x klZjbdZ ih ]heh\_ KlZjbd ihl_jye khagZgb_ > i_j_lZsbe _]h \ deZ^h\dm gZg_ky_s_g_kdhevdhm^Zjh\ihebpm©^ey\_jghklbª< fhf_gldh]^Zhgohl_em^Zeblvkyk fZjdZfb _]h aZ^_j`Zeb Ly`_eh jZg_gguc bf klZjbd \u`be Z > \ l_q_gb_ e_l hl[u\Ze gZdZaZgb_ \ lxjvf_ < ]h^Z hg `_gbeky Z \ e_l ij_^klZe i_j_^ km^hf aZ gZg_k_gb_ ly`_euo l_e_kguo ih\j_`^_gbc `_g_ < e_l > jZa\_eky >jZdm hkh[_ggh ih^ ^_ckl\b_f Zedh]hey hg aZl_\Ze ^h\hevgh qZklh < e_l > \ ivyghf khklhygbb gZqZe ba[b\Zlv kh[mluevgbdZ dhlhjuc agZy h _]h km^bfhklyo ]emfbeky gZ^ gbf Kh[mluevgbd \ ^he]m g_ hklZeky > gZg_k _fm g_kdhevdh m^Zjh\ k\yadhc ly`_euo f_lZeebq_kdbo dexq_c Z dh]^Z lhl miZe klZe [blv _]h ih ]heh\_ kZih]Zfb Dh]^Z jZg_guc fh] m`_ lhevdh klhgZlv > m^Zebeky Bam\_q_ggucmf_jlZf`_gZf_kl_ij_klmie_gby > h[tykgbe k\hc ihklmihd yjhklvx ijhlb\ h[b^qbdZ gZa\Z\r_]h _]h ©m]heh\gbdhf b jZklebl_e_fª <gZqZe_ hg g_ kh[bjZeky lZd jZkijZ\blvky k ©wlbf lbihfª Gh ©dh]^Z hg gZqZe fg_ m]jh`Zlv fg_ klZeh [_ajZaebqgh qlh k gbf [m^_l b y aZlhilZe _]h gh]Zfbª <h \j_fy h[ke_^h\Zgby>ihdZaZek_[yq_eh\_dhf\_kvfZh]jZgbq_ggufghg_^_[bevguf;ueih^Z\e_g ]h\hjbe fZeh ² jhgye hl^_evgu_ keh\Z H kh\_jr_gguo bf jZg__ ij_klmie_gbyo g_ ohl_e ]h\hjblvFukijhkbebjZkdZb\Z_lkyebhg>hl\_lbe©D q_fm"Qlh`_y k_cqZkfh]mk^_eZlv" <_^v f_jl\h]h g_ jZa[m^brvª Ba wlh]h fh`gh [ueh aZdexqblv qlh hg \hh[s_ g_ ihgbfZ_l \k_]h m`ZkZ kh\_jr_ggh]h bf ij_klmie_gby G_aZ\bkbfh hl \k_]h kh^_yggh]h bf y ihiulZeky \uykgblv wlbq_kdmx ihabpbx > Lml gZ _]h ebp_ ihy\beZkv l_gv meu[db Hg jZkkdZaZe qlh hq_gv ex[bl k_kl_j b [jZlv_\ qlh feZ^r_]h [jZlZ ^Z`_ qZklh \ujmqZe ba [_^u Ex[bl jh^bl_e_c Hq_gv `Ze__l `b\hlguo ² dhjh\ dhlhjuo _fm ijboh^behkv ^hblv ehrZ^_c gZ dhlhjuo_a^beaZdhlhjufbkfhlj_eHggbdh]^Zg_m^Zjbegbh^ghcehrZ^bZ l_dZ`^uc_]h ijboh^\klj_qZebljh]Zl_evgufj`Zgv_f>ijb\e_dZe^jm]bodmq_jh\d hl\_lmaZ`_klhdhklv\ h[jZs_gbbk `b\hlgufbD ^_lyf hg lh`_ \k_]^Z ohjhrhhlghkbeky >_lyf k_kljuihklhyggh ijb\habe keZ^hklb b hgb _]h hq_gv ex[beb >Z`_ ]h\hjy h ijbylghf ^ey k_[y h[ke_^m_fuc hklZ\Zeky [_ajZ^hklguf kdmiuf gZ keh\Z ly`_eh\_kguf < ijh[_ gZ ijh^mdlb\ghklv ih\lhjbeZkv oZjZdl_jgZy ^ey wibe_ilhb^h\ aZf_^e_gghklv ² > gZkqblZe \k_]h ij_^f_lh\ AZlh hg h[eZ^Ze ijZdlbq_kdhc kf_dZedhc jZ[hlZe [ukljh [ue ih keh\Zf _]h gZqZevgbdZ ©iZj_gvk ]heh\hcªKZf>]h\hjbeqlhk aZ^ZgbyfbihjZ[hl_kijZ\ey_lky[uklj__^jm]bo B m wlh]h h[ke_^m_fh]h fu gZ[ex^Z_f q_jlu \ha[m^bfhc ebqghklb beb lhqg__ wibe_ilhb^ghc ikbohiZlbb Hg ijhimkdZ_l aZgylby klZgh\blky \hjhf m[_]Z_l ba bgl_jgZlZ aZsbsZ_lky ijb ^jZd_ ]jZ[eyfb b gZghkbl ly`_eh_ jZg_gb_ k\_jklgbdm > gZib\Z_lky ^h [_kqm\kl\by _fm [_ajZaebqgh ]^_ jZ[hlZlv hg qZklh f_gy_l f_klh jZ[hlu ihkl_i_ggh ij_\jZsZ_lky\ ojhgbq_kdh]hZedh]hebdZIhiuldbjZkle_gbyk\yaZguk iheghc ^_]jZ^Zpb_c\ k_dkmZevghc kn_j_ < e_l > qmlv g_ m[be q_eh\_dZ ih\_^_gb_ dhlhjh]h _]h jZa^jZ`Zeh b ijbk\hbe k_[_ _]h ^_gv]b GZdhg_p \ e_l hg a\_jkdb ba[b\Z_l q_eh\_dZ \ua\Z\r_]h i_j_^ l_f_]h[_amfgh_jZa^jZ`_gb_Dh]^Zwlhlq_eh\_dklZem]jh`Zlvqlh^hg_k_lgZg_]hihebpbb Znn_dl>\hajhkg_ihf_jgh\ j_amevlZl_q_]hhgjZklhilZek\h_]hijhlb\gbdZgh]ZfbH^gZdh g_evayh]jZgbqblvjZkkfhlj_gb_ikbobdb>lhevdhwlbfbnZdlZfb?]hhp_gdZdZd`_klhdh]h [_kk_j^_qgh]hq_eh\_dZg_^Z_liheghcoZjZdl_jbklbdbHgklZgh\blky[_a^mrgufebrvlh]^Z dh]^Z Znn_dl iheghklvx h\eZ^_\Z_l bf Dh]^Z > kihdh_g _]h g_ gZah\_rv oheh^guf b [_kqm\kl\_gguf H[ wlhf k\b^_l_evkl\m_l _]h ex[h\v d ^_lyf d `b\hlguf < khklhygbb Znn_dlZ hg dhg_qgh dm^Z [he__ ]jm[ b kljZr_g q_f lh\Zjbsb ih jZ[hl_ dhlhju_ g_ kh\_jrZxlgZkbebyH^gZdhfgh]b_bagbo\ kihdhcghfkhklhygbb[he__q_jkl\ub aeuq_f> G_ ^he`_g \\h^blv \ aZ[em`^_gb_ b lhl nZdl qlh wibe_ilhb^u g_ jZkdZb\Zxlky \ k\hbo ij_klmie_gbyo ?keb g_ihijZ\bfh_ ijhbahreh hgb klZjZxlky ij_^Zlv _]h aZ[\_gbx <_^v bklbggh_ jZkdZygb_ ij_^iheZ]Z_l \a\_rb\Zgb_ ZgZeba \ j_amevlZl_ q_]h fh`gh hkhagZlv agZq_gb_ijhklmidZb ij_^klZ\blvk_[__]h\hafh`gu_ihke_^kl\byWibe_ilhb^ZflZdhcZgZeba g_ k\hckl\_g ?keb bo jZkkijZrb\Zlv h nZdl_ ij_klmie_gby lh hgb \ujZayl ebrv fjZqgmx ^hkZ^mihih\h^mlh]hqlhbf©gZihfgbebªghg_ijhy\ylgbdZdh]h`_eZgby©dhiZlvkyª\ ijh rehf Ihke_^g__ hkh[_ggh oZjZdl_jgh ^ey ^_l_c m dhlhjuo \h h[s_ Znn_dl [uklj__ me_lmqb\Z_lkybaiZfylb Ihwlhfm m wdki_jlh\ \ hlghr_gbb > \gZqZe_ keh`behkv hrb[hqgh_ fg_gb_ qlh m g_]h g_l ©gb gZf_dZ gZ jZkdZygb_ª \ k\h_f ij_klmie_gbb > ² lbibqguc wibe_ilhb^ Wlh ijhy\ey_lky b \ ly`_eh\_k guo j_Zdpbyo b \ aZf_^e_gghklb ijh[u gZ ijh^mdlb\ghklv H[ wlhf `_ k\b^_l_evkl\m_l b g_\ukhdbc mjh\_gv _]h bgl_ee_dlmZevgh]h jZa\blby K nbabq_kdhc klhjhgu ^bZ]gha ih^l\_j`^Z_lky l_f qlh h[ke_^m_fuc ² q_eh\_d iehlguc y\gh Zle_lbq_kdh]h keh`_gby ?keb \gbfZl_evgh \^mfZlvky \ ijb\_^_ggu_ \ur_ hibkZgby hkh[_ggh m[bcpu lh fh`gh ijbclb d \u\h^m qlh m wlbo ijbfblb\guo ebqghkl_c wibe_ilhb^gh]h lbiZ hlkmlkl\m_l ©\uiZ^Z_lª lhl mqZklhd jZa\blby ikbobdb \ \_^_gbb dhlhjh]h gZoh^ylky wlbq_kdb_ h[s_kl\_ggu_ ghjfu WlZ nbeh]_g_lbq_kdb gh\Zy kn_jZ q_eh\_q_kdhcikbobdbgZmjh\g_dhlhjhc[eZ]hjZamfb_h[j_lZ_l]hkih^kl\hgZ^bgklbgdlZfbb g_dhgljhebjm_fufb ih[m`^_gbyfb m lZdbo ebqghkl_c \hh[s_ g_ jZa\blZ DZ`^uc ikbobq_kdbc kehc h[eZ^Z_l keh`ghc ijbjh^hc ih wlhfm [_amkeh\gh \hafh`gu kemqZb \ dhlhjuodhfihg_glulh]hbebbgh]hkehyij_^klZ\e_guebrvqZklbqghGZijbf_jkms_kl\mxl ebpZly`_eh\_kgu_b f_^ebl_evgu_\ k\hboj_Zdpbyog_kdehggu_h^gZdhd \kiurdZf]g_\Z beb d qZklhc i_j_f_g_ f_klZ jZ[hlu EbpZ wlb _keb ^Zggu_ q_jlu bo oZjZdl_jZ q_ldh h[jbkh\Zguj_Z]bjmxl\yehb f_^e_ggh dZdb wibe_ilhb^u b ijbkZfhf lsZl_evghfhijhk_ g_evay mklZgh\blv m gbo ijhy\e_gbc jZa^jZ`bl_evghklb beb bfimevkb\ghklb Wlb ex^b ^h[bebkv ohjhr_]h iheh`_gby g_ kh[bjZxlky f_gylv f_klh jZ[hlu \iheg_ m^h\e_l\hj_gu aZgbfZ_fhc ^he`ghklvx Kha^Z_lky \i_qZle_gb_ qlh [eZ]h^Zjy k\h_c ly`_eh\_kghklb hgb b ijhn_kkbhgZevgh dZd [u fZehih^\b`gu Z ihwlhfm kdhj__ ij_^klZ\eyxl k\hckl\Z ijyfh ijhlb\hiheh`gu_©e_lmgkl\mª M g_dhlhjuoex^_ckoh^ghck wibe_ilhb^Zfbq_jlhcy\ey_lkykdjmime_aghklvfure_gby _]h i_^Zglbqghklv < k\h_f ih\_^_gbb hgb g_ f_^ebl_evgu g_ h[gZjm`b\Zxl b ijbagZdh\ fhjZevghc bg_jlghklb G_j_^dh fu \b^bf bo gZ \ukhdbo ihklZo LZdb_ ex^b g_ kihkh[gu jZkkdZaZlv h q_feb[h [_a mihfbgZgby Z[khexlgh g_kms_kl\_gguo ^_lZe_c hgb g_ fh]ml g_ gZqZlvba^Ze_dZ\ie_lZxl\ k\h_khh[s_gb_jZagu_g_kms_kl\_ggu_fhf_glubf_xsb_d kmlb ^_eZ ebrv dhk\_ggh_ hlghr_gb_ QZklh hgb ih\lhjyxlky qlh[u ©knhjfmebjh\Zlv ihlhqg__ª IheZ]Zx qlh fgh]bf ijbkmlkl\h\Z\rbf gZ ^bkdmkkbyo jZaebqguo aZk_^Zgbyo agZdhf wlhl lbi M`_ \ fhf_gl dh]^Z hgb ijhkyl keh\Z agZ_rv qlh gZ^h aZiZklbkv l_ji_gb_f qlh[u \ukemrZlv bo ^h dhgpZ IkbobZljm e_]dh mklZgh\blv qlh ijb q_ldhf \ujZ`_gbb ^Zgghc Zdp_glmZpbb i_j_^ gZfb hldju\Z_lky dZd jZa lZ dZjlbgZ dhlhjmx fu gZ[ex^Z_f ijb wibe_ilhb^ghci_^ZglbqghklbIjZ\^Zijbm]em[e_gghfh[ke_^h\Zgbbfh`gh\uykgblvqlhm g_dhlhjuoebpboj_Zdpbb\ Znn_dl_hlf_qZxlkydZdhclhg_mijZ\ey_fhklvxh^gZdhm fgh]bo Zdp_glmZpby h]jZgbqb\Z_lky ebrv k\h_h[jZaguf fukebl_evguf i_^Zglbafhf LZdbf h[jZahf j_adb_ yjdh \ujZ`_ggu_ijhy\e_gby h[s_c ly`_eh\_kghklbbeb kdjmime_aghc i_^Zglbqghklb fure_gby Zdp_glmbjh\Zgguo ebqghkl_c ^Zxl hkgh\Zgb_ ]h\hjblv h[ wibe_ilhb^ghc ikbohiZlbb Khq_lZgb_Zdp_glmbjh\Zgguoq_jloZjZdl_jZ ?keb\ kljmdlmj_q_eh\_q_kdhcebqghklbjZaebqZlvk\hckl\ZoZjZdl_jZb l_fi_jZf_glZlh \ \ur_jZkkfhlj_gguo lbiZo Zdp_glmZpbb ebqghklb ij_h[eZ^Zxl k\hckl\Z oZjZdl_jZ K\hckl\ZfboZjZdl_jZhij_^_eyxlkygZijZ\e_gghklvbgl_j_kh\q_eh\_dZb nhjfZ_]hj_Zdpbc\ lh\j_fydZdhll_fi_jZf_glZaZ\bkyll_fib ]em[bgZwfhpbhgZevguoj_ZdpbcQ_ldhc]jZgbpu f_`^m l_fi_jZf_glhf b oZjZdl_jhf h^gZdh g_ kms_kl\m_l Dj_qf_j b W\Zev^ lZd`_ ih jZaghfm ih^oh^beb d bo jZa]jZgbq_gbx GZijbf_j m \ha[m^bfhc ebqghklb m dhlhjhc ^hfbgbjmxl iZlheh]bq_kdb_ bfimevkb\gu_ b Znn_dlb\gu_ j_Zdpbb fh`gh mkfZljb\Zlv \ dZdhclh f_j_ ij_h[eZ^Zgb_ q_jl l_fi_jZf_glZ K ^jm]hc klhjhgu ]em[bgZ wfhpbhgZevguo \hkijbylbb m wfhlb\guo ebqghkl_c kf gb`_ kbevg__ hljZ`Z_lky gZ Zevljmbklbq_kdbo qm\kl\Zoq_fgZw]hbklbq_kdboh[mkeh\eb\Zyb g_dhlhju_q_jlubooZjZdl_jZ< kbemwlh]hy g_ kqblZx qlh ij_^eZ]Z_fh_ fghc ^_e_gb_ ebqghkl_c ih oZjZdl_jm ² gZ ^_fhgkljZlb\guo i_^Zglbq_kdboaZklj_\Zxsbob \ha[m^bfuo²y\ey_lkyq_flhZ[khexlguflhqghlZd`_dZdb q_jluZgZebabjm_fu_\ jy^_ihke_^mxsbo]eZ\hij_^_eyxlhlgx^vg_h^bgebrvl_fi_jZf_gl q_eh\_dZ AgZy hl^_evgu_ q_jlu g_keh`gh ijhke_^blv b bo khq_lZ_fhklv H^gZdh bf_ggh \ h[eZklb oZjZdl_jZ khq_lZgby g_dhlhjuo q_jl hlebqZxlky klhev y\kl\_ggufb hkh[_gghklyfb qlh bo g_h[oh^bfh h[km^blv ih^jh[g__ Mkbe_gb_ hkeZ[e_gb_ beb \Zjvbjh\Zgb_ h^ghc q_jlu fh`gh ijhke_^blv Ij_^kdZaZlv `_ oZjZdl_j ij_ehfe_gby gZijbf_j \ha[m^bfhklb m aZklj_\Zxs_c bfimevkb\ghc \ha[m^bfhc beb i_^Zglbq_kdhc ebqghklb g_\hafh`gh IjZ\bevghkm^blvh[wlhffh`ghlhevdhgZhkgh\ZgbbijZdlbq_kdbogZ[ex^_gbcb hiulZ<hl ihq_fm y kqblZx p_e_khh[jZaguf gZqZlv k dhgdj_lguo gZ[ex^_gbc gZ^ g_dhlhjufb khq_lZgbyfb hibkZgguo q_jl oZjZdl_jZ Khq_lZgb_ ^_fhgkljZlb\guo b i_^Zglbq_kdbo q_jl m Zdp_glmbjh\Zgguo ebqghkl_c g_ \klj_qZ_lky ihkdhevdm ^_fhgkljZlb\gu_ b i_^Zglbq_kdb_ ebqghklbijhlb\hihklZ\e_gu^jm]^jm]m\ h^ghcb lhc`_kn_j_j_Zdpbc>ey^_fhgkljZlb\ghc ebqghklb\ khklhygbbZnn_dlZihdZaZl_evgu\g_aZigu_^_ckl\byihlbimdhjhldh]haZfudZgby \ lh \j_fy dZd i_^Zglbq_kdb_ ebqghklb bkdexqbl_evgh f_^ebl_evgu h[t_dlb\gh]h gZ[ex^Zl_eybog_j_rbl_evghklvih\_j]Z_l\ ihegh_g_^hmf_gb_Kihkh[ghklv\ul_kgylvba khagZgby wfhpbhgZevgu_ \hijhku g_ kjZam ih^^Zxsb_ky ikboheh]bq_kdhfm j_r_gbx m ^_fhgkljZlb\guoebqghkl_cih\ur_gZm i_^Zglbq_kdbo²j_adhihgb`_gZ?keb[u\ ikbobd_ q_eh\_dZbf_ebkvq_jlub l_b ^jm]b_lhg_baf_ggh\hagbdZeh[ug_qlhghjfZevgh_kj_^g__ GZrb gZ[ex^_gby ijh\_^_ggu_ gZ \_kvfZ [hevrhf dhebq_kl\_ iZpb_glh\ ih^l\_j^b eb qlh ex^_c h[eZ^Zxsbo h^gh\j_f_ggh h[_bfb mihfygmlufb q_jlZfb oZjZdl_jZ g_ kms_kl\m_l Hkh[ucbgl_j_k\uau\Z_lkhq_lZgb_q_jloZjZdl_jZ^_fhgkljZlb\ghcb aZklj_\Zxs_cebqghklb J_amevlZl ijb wlhf [u\Z_l jZaebqguc KeZ[hklv bkl_jbdZ fh`_l \ ba\_klghc kl_i_gb dhfi_gkbjh\Zlvky klhcdhklvx b mihjkl\hf j_Zdpbc iZjZghcyevghc ebqghklb gh bgh]^Z \hafh`gub ^_nhjfZpbbikbobdbIjbqbgZaZdexqZ_lky\b^bfh\ khpbZevghc^\hckl\_gghklb iZjZghcyevghc Zdp_glmZpbb ijb dhlhjhc \hafh`gu dZd \ukhdb_ ljm^h\u_ b l\hjq_kdb_ ihdZaZl_eb lZd b [_kieh^gZy ljZlZ \j_f_gb gZ [_kkfuke_ggmx [hjv[m Ijb lZdhf khq_lZgbb ihke_^gyy l_g^_gpby g_j_^dh hkh[_ggh yjdh ijhy\ey_lky m mihjguo j_gl guo g_\jhlbdh\ dhlhju_g_lhevdhkbfmebjmxlkbfilhfuaZ[he_\Zgbyihlbimbkl_jbq_kdh]h\ul_kg_gbygh _s_ b [hjxlky k qbklh iZjZghcyevguf mihjkl\hf aZ ijbagZgb_ wlbo kbfilhfh\ bklbggufb [he_ag_ggufb y\e_gbyfb Ijb\h`m bklhjbx [he_agb dhlhjmx ;_j]fZg hibkZeZ \ gZ r_f dhee_dlb\ghfljm^_ Njb^Z<e_lihijhn_kkbb[ueZkgZqZeZfh^bkldhcZ aZl_fih^[hjsbp_cf_oh\< e_l \ureZ aZfm` aZ ih^[hjsbdZ f_oh\ JZ[hlZ_l lh \ fZkl_jkdhc fm`Z lh gZ klhjhg_ k Zddhj^ghchieZlhcLjm^blvkyihk\b^_l_evkl\m^hq_jbgbdh]^Zhkh[_gghg_ex[beZIjZ\^Z gZqbgZeZex[mxjZ[hlmk [hevrbfj\_gb_fb km^h\hevkl\b_fgh\kdhj_aZy\eyeZqlhjZ[hlZ hdZaZeZkv ljm^ghc beb qlh __ [_a[h`gh wdkiemZlbjmxl Ihke_ aZfm`_kl\Z [hevrmx qZklv \j_f_gbg_jZ[hlZeZZ aZgbfZeZkv^hfZrgbfohayckl\hfghb a^_kvkZfZg_kijZ\eyeZkvFm` kljZ^Zehl__ k\Zjeb\hklbb \_qgh]hgulvyIhke_hq_j_^gh]hkdZg^ZeZhgZeh`beZkv\ ihkl_ev b jZau]ju\ZeZ [hevgmx Fm` qZklh ihdb^Ze ^hf \ dhgp_ dhgph\ m g_]h ihy\beZkv k\yav gZ klhjhg_ < e_l < ih^ZeZ aZy\e_gb_ h jZa\h^_ M`_ ihke_ jZa\h^Z km^beZkv k fm`_f baaZ rm[u dhlhjmx lhl ydh[u hldZau\Zeky _c hl^Zlv Ihklhyggu_ \heg_gby b i_j_mlhfe_gb_ \uau\Zebm <]heh\hdjm`_gb_HgZihqm\kl\h\ZeZk_[yg_ljm^hkihkh[ghcgZqZeZoehihlZlvh i_gkbb gh \ i_gkbb _c hldZaZeb < h[`Zeh\ZeZ hldZa _c kgh\Z hldZaZeb H^gZdh < g_ \ha\jZlbeZkv gZ jZ[hlm hgZ `b\_l gZ Zebf_glu ihemqZ_fu_ hl fm`Z H^gZ`^u < _oZeZ \ ih_a^_ Ih_a^j_adh aZlhjfhabe b hgZ m^ZjbeZkv ]heh\hc H[ wlhf ©g_kqZklghf kemqZ_ª b _]h ihke_^kl\byobf__lkyfgh]hijhlb\hj_qb\uoihdZaZgbckZfhc<H[t_dlb\guffh`ghkqblZlv ebrv k\b^_l_evkl\h f_^bpbgkdhc k_klju dhlhjZy \b^_eZ < \ f_^imgdl_ gZ ]eZ\ghf \hdaZe_ k_kljZ khh[sbeZ qlh m [hevghc gZ ]heh\_ [ueh g_kdhevdh rbr_d Dh]^Z [hevgZy ihdZaZeZkv \jZqmq_j_a^gyihke_ijhbkr_kl\byhggbdZdbogZjm`guoljZ\fg_h[gZjm`begh\ukdZaZe ij_^iheh`_gb_ qlh ]heh\gZy[hev < k\yaZgZ k i_j_`blhc ©\kljykdhcª ©HkeZ[e_gb_ aj_gbyª gZ dhlhjh_ `Zeh\ZeZkv < ijb hnlZevfheh]bq_kdhf hkfhlj_ g_ ih^l\_j^behkv < kqblZeZ h^gZdhqlhhgZi_j_`beZly`_e_crmxljZ\fmb ih^ZeZ\ km^aZy\e_gb_h ^_g_`ghf\haf_s_gbb aZgZg_k_ggu_m\_qvyAZwlh\j_fy©bklhjbyljZ\fuªmki_eZh[jZklbgh\ufbih^jh[ghklyfb \h \j_fy j_adh]h lhjfh`_gby ly`_euc q_fh^Zg m]h^be < \ ]heh\m fhsguf lheqdhf __ hlr\ujgmehd kl_g_hgZhsmlbeZlhrghlmbahjlZb baghkZoeugmeZdjh\vghiheghklvxhgZ khagZgbyg_ihl_jyeZk_kljZbaf_^imgdlZ\hdaZeZijh\h`ZeZ<m dhlhjhc\k_l_eh[he_eh b gueh ^h ljZf\Zy <h \j_fy \jZq_[gh]h hkfhljZ m gZk < ml\_j`^ZeZ qlh i_j_`blZy ljZ\fZ k^_eZeZ __ dZe_dhc <k_ `Zeh[u __ [ueb jZkieu\qZlu g_dhgdj_lgu ?^bgkl\_gguf h[t_dlb\guf[he_ag_ggufy\e_gb_ffh`gh[uehkqblZlv\hkiZe_gb_dh`bhdhehe_\h]h]eZaZ ;hevgZy\k_\j_fy^_j`ZeZkvgZijy`_gghb hq_gv\jZ`^_[ghihdZau\ZeZiZidmk ^hdmf_glZfb ]^_ [ueb ihhsj_gby ih jZ[hl_ jZaebqgu_ kijZ\db h khklhygbb a^hjh\vy HgZ ij_^ty\eyeZ ij_l_gabb g_ lhevdh d `_e_aghc ^hjh]_ gh b d [u\r_fm fm`m dhlhjuc ©\k_o gZkljZb\Z_l ijhlb\ g__ª Bklhjbx ©g_kqZklgh]h kemqZyª < hk\_sZeZ klhev `_ ih^jh[gh dZd b ijhlb\hj_qb\hG_kdhevdhjZa_cmdZau\ZebgZlhqlhihke_^mxsZynjZaZ__ jZkkdZaZgbdZdg_ kh]eZkm_lkyk ij_^u^ms_cgZqlhhgZ\hh[s_g_h[jZsZeZ\gbfZgbyKlhbehaZ]h\hjblvk <h jZchgguo\jZqZoh `_e_aghc^hjh]_h fm`_dZdhgZ\iZ^ZeZ\ khklhygb_kbevg_cr_]hZnn_dlZ h[\bgyeZ \k_o \ g_ijbagZgbb __ ijZ\ ]jhabeZ ih^Zlv `Zeh[m \ [he__ <ukhdb_ bgklZgpbb k lj_[h\Zgb_f \haf_s_gby aZ ihl_jx jZ[hlhkihkh[ghklb Bgh]^Z < \kyq_kdb klZjZeZkv ijhba\_klbgZ\jZqZ\u]h^gh_\i_qZle_gb_aZy\eyyqlh\k_\jZqbijh\h^b\rb_h[ke_^h\Zgb_ ^hg_]hgbq_]hg_ihgbfZebb gZdhg_plh_cihkqZkleb\behkv]h\hjblvk d\Zebnbpbjh\Zgguf ki_pbZebklhf GZ ijhly`_gbb \k_c `bagb < fu dhgklZlbjm_f m g__ bkl_jbq_kdb_ q_jlu oZjZdl_jZ khijh\h`^Zxsb_ky kdehgghklvx mclb hl `bag_gguo ljm^ghkl_c hkh[_ggh hl ljm^h\hc ^_yl_evghklbKgZqZeZ__ g_^h\hevkl\hh[jmrbehkvgZfm`ZaZl_fdh]^Zfm`mr_ehgZbkdZeZ ih^^_j`dbm ]hkm^Zjkl\Z<_qgu_kkhju\ k_fv_`Zeh[u\ km^gZfm`Zihke_jZa\h^Z²wlbb ^jm]b_ nZdlu[bh]jZnbbk\b^_l_evkl\mxl h gZebqbb m < iZjZghcyevguoq_jl oZjZdl_jZ Ijb oehihlZoh i_gkbb h[t_^bgbebkv q_jlu h[hbo lbih\ < mkbe_ggh ^_fhgkljbjh\ZeZ kbfilhfu aZ[he_\Zgby b k mihjkl\hf ^h[b\ZeZkv bo ijbagZgby <gZqZe_ j_qv reZ h i_gkbb ih bg\Zeb^ghklbAZl_fgZihfhsvijbr_e^h\hevgh[_ah[b^guckemqZcgZ`_e_aghc^hjh]_klZ\ ih\h^hf^ey lj_[h\Zgbyi_gkbb ih m\_qvx Iheh`bl_evguo ijhy\e_gbc aZklj_\Zgby m ^Zgghc [hevghcfukh\k_fg_gZ[ex^Z_f\hafh`ghk\hckl\_ggZybkl_jbdZfkeZ[hklvk kZfh]hgZqZeZ ij_iylkl\h\ZeZljm^h\uf^hklb`_gbyfFh`ghij_^iheh`blvlZd`_qlh<g_ij_^klZ\beZkv dhgdj_lgZy \hafh`ghklv m^h\e_l\hj_gby k\h_]h q_klhex[by \ ljm^h\hc ^_yl_evghklb <hafh`gh \ fheh^u_ ]h^u dh]^Z iZpb_gldZ k wglmabZafhf [jZeZkv aZ lm beb bgmx jZ[hlm ohjhrb_ ljm^h\u_ ihdZaZl_eb y\eyebkv j_amevlZlhf q_klhex[b\h]h ihju\Z ;eZ]hijbylgh_ jZa\blb_ ebqghklb ijb hij_^_e_gghf khq_lZ gbb q_jl oZjZdl_jZ gZ[ex^Z_lky \ hkgh\ghf lh]^Z dh]^Z klj_f e_gb_ d kZfhml\_j`^_gbx dhlhjh_ k\hckl\_ggh aZklj_\Zxsbf ebqghklyf hkms_kl\ey_lky ih ^_fhgkljZlb\ghfm lbim ?keb wlb ebpZ ^h[b\Zxlky ijbagZgby _keb bf m^Z_lky gZclb lZdmx jZ[hlm dhlhjZy g_ lhevdh bf gjZ\blky gh b h[_ki_qb\Z_l \hafh`ghklv gZoh^blvky \ p_glj_ \gbfZgby lh ^_fhgkljZlb\ghaZklj_\Zxsb_ ebqghklb fh]ml [ulv gZ \ukhl_ \ l_q_gb_ ^ebl_evgh]h \j_f_gb Ke_^mxsZy iZpb_gldZ lZd`_ [ueZ hibkZgZ ;_j]fZg dhlhjZy \ gZr_f dhee_dlb\ghf ljm^_ ^ZeZ hibkZgb_ jy^Z dhf[bgbjh\ZgghZdp_glmbjh\Zgguo ebqghkl_c Eba[_l;e_l_s_\ ^_lkl\_hlebqZeZkvg_^h\_jqb\hklvxb aehiZfylghklvxHgZg_ fh]eZgZeZ^blvdhglZdlk khmq_gbdZfbihklhygghqm\kl\h\ZeZk_[yh[hc^_gghcK \hajZklhfm g__ \k_ [hevr_ jZa\b\Zehkv q_klhex[b_ KlZ\ ijh^Z\phf hgZ ihevah\ZeZkv m\Z`_gb_f ijh^\b]ZeZkv ih kem`[_ >bj_dlhj fZ]ZabgZ ihjmqZe _c hl\_lkl\_ggu_ mqZkldb jZ[hlu gh k dhee_]Zfb^_ehh[klhyehom`_fgh]b_g_^hex[eb\Zeb__ baaZk\Zjeb\h]hk\h_gjZ\gh]hb aeh iZfylgh]h oZjZdl_jZ < \hajZkl_ e_l m ; gZ[ex^Zebkv lbibqgu_ bkl_jbq_kdb_ j_Zdpbb ih ih\h^m jZahqZjh\Zgby \ ex[\b hgZ jZau]ju\ZeZ ly`_eh[hevgmx iha\heyeZ fZl_jb [Zeh\Zlv `Ze_lvk_[yGh\kdhj_hgZkgh\ZijbklmibeZd jZ[hl_b \ihke_^mxsb_]h^uhgbijhoh^beb [_adhgnebdlh\^hklb]eZ\_kvfZ\ukhdboijhn_kkbhgZevguoihdZaZl_e_cK\ya_ck fm`qbgZfb m g__ \k_ wlb ]h^u g_ [ueh Ebrv \ \hajZkl_ e_l hgZ _s_ jZa ihex[beZ gh kgh\Z \k_ dhgqbehkv ]em[hdbf jZahqZjh\Zgb_f >\Z ]h^Z kimkly mf_jeZ __ fZlv < debfZdl_jbq_kdhf i_jbh^_ m ; qZklh hlf_qZehkv g_^hfh]Zgb_ HgZ g_ fh]eZ m`_ \uihegylv k\hx jZ[hlm lZd [_amdhjbag_ggh dZd ij_`^_ G_kfhljy gZ wlh ; g_ \ kbeZo [ueZ hldZaZlvky hl Z\lhjbl_lghc ^he`ghklb aZdmisbdZ hilh\uo lh\Zjh\ qlh[u aZgylvky jZ[hlhc [he__ e_]dhc Dh]^Z gh\uc ^bj_dlhj gZagZqbe \ ihfhsgbpu ; fheh^mx `_gsbgm hgZ \hkijbgyeZ wlm ihfhsv dZd agZd g_^hhp_gdb__ fgh]he_lg_cjZ[hlu\ lhj]h\hfij_^ijbylbb;ijhj_Z]bjh\ZeZgZ gZagZq_gb_ ihfhsgbpu ]jm[h^_fhgkljZlb\gh ² miZeZ k ]jhfdbf djbdhf Ihke_ wlh]h m g__ ihy\behkv gZjmr_gb_ dhhj^bgZpbb ^\b`_gbc ijb oh^v[_ >hfhc k jZ[hlu hgZ m_oZeZ gZ lZdkb Z iha`_ ihklhyggh b k [hevrbf m^h\hevkl\b_f ^_fhgkljbjh\ZeZ kbfilhfu k\h_]h aZ[he_\Zgby Ijb ihklmie_gbb\ gZrmdebgbdm;ij_^ty\beZi_j_q_gvk\hbo[he_ag_cgZ\hkvfbkljZgbpZoIjb oh^v[_ ihevah\ZeZkv \ dZq_kl\_ hihju lh iZedhc lh ahglhf lh ^_lkdhc dheykhqdhc < ikbohl_jZi_\lbq_kdhfhl^_e_gbb\uykgbehkvqlh;hq_gvohq_lihemqblvi_gkbxIhkl_i_ggh gZfm^Zehkvkgylvkbfilhfubkl_jbbghij_h^he_lv^hdhgpZ__ \gmlj_gg__khijhlb\e_gb_fu g_ kfh]eb < dhgp_ dhgph\ ; ihqm\kl\h\ZeZ k_[y gZfgh]h emqr_ b ^Z`_ kgh\Z aZ]h\hjbeZ h jZ[hl_ D kh`Ze_gbx fu g_ kfh]eb h[_ki_qblv _c f_klh jZ[hlu gZ dhlhjhf h[ke_^m_fhc m^Zehkv[u\u^\bgmlvkydZdjZgvr_ M ; \ l_q_gb_ fgh]bo e_l iZjZghcyevgu_ q_jlu ij_h[eZ^Zeb gZ^ bkl_jbq_kdbfb M`_ j_[_gdhf hgZ qm\kl\h\ZeZ k_[y h[hc^_gghc Z klZ\ \ajhkehc hlebqZeZkv g_k]h\hjqb\hklvx b aehiZfylghklvxQ_klhex[b\u_mklj_fe_gbyh[_ki_qbeb_cijh^\b`_gb_ihkem`[_b ohjhrmx ^he`ghklv< ]h^Z;ijhy\beZlbibqgu_bkl_jbq_kdb_j_ZdpbbijbjZahqZjh\Zgbb\ ex[\b < iylb^_kylbe_lg_f \hajZkl_ \k_ y\kl\_gg__ gZ[ex^Z_lky ©[_]kl\h \ [he_agvª Khq_lZgb_ m Zdp_glmbjh\Zgghc ebqghklb aZklj_\Zxsbo b ^_fhgkljZlb\guo q_jl qZklh \_^_l d q_klhex[b\uf mklj_fe_gbyf hkh[_ggh \ jZkp\_l_ e_l Ijb lZdhf lbi_ Zdp_glmZpbb j_Zdpbb g_khklhyl_evghklb©hk_qdbªg_bf_xlf_klZ;eZ]h^Zjyohjhrbfljm^h\ufihdZaZl_eyflZdb_ ex^b aZ\h_\u\Zxl Z\lhjbl_l gZ jZ[hl_ qlh \ k\hx hq_j_^v y\ey_lky klbfmehf gZ imlb d ^Zevg_crbf ^hklb`_gbyf K \hajZklhf dh]^Z jZ[hlZlv klZgh\blky ljm^g__ b Z\lhjbl_l jZ[hlgbdZ iZ^Z_l m aZklj_\Zxsbo ebqghkl_c gZ[ex^Z_lky djmlhc ih\hjhl d k\_joqm\kl\bl_evghklb Hgb k\Zeb\Zxl \bgm aZ hlkmlkl\b_ ij_`gbo ljm^h\uo mki_oh\ lh gZ dhee_] lh gZ [he_agv L_f kZfuf wlZ q_jlZ ebqghklb i_j_debdZ_lky l_i_jv k bkl_jbq_kdhc l_g^_gpb_c d b]ghjbjh\Zgbx g_ijbylgh]h LZdbf h[jZahf fh`gh h[tykgblv wlm iha^gxx g_khklhyl_evghklv ^_fhgkljZlb\ghaZklj_\Zxsbo ebqghkl_c Fu ihdZaZeb wlh gZ ijbf_j_ q_klhex[b\hc `_gsbgu dhlhjZy ij_mki_\ZeZ \ jZ[hl_ b m dhlhjhc \ ih`behf \hajZkl_ jZa\beZkv dZjlbgZ j_glgh]h g_\jhaZ JZamf__lky g_ \h \k_o kemqZyo gZ[ex^Z_lky iha^gyy g_khklhyl_evghklv G_dhlhju_ bkl_jbq_kdbiZjZghcyevgu_ ebqghklb d gZqZem ij_dehggh]h \hajZklZh[_ki_qb\Zxlk_[_klhevijhqgh_kem`_[gh_iheh`_gb_qlhm^_j`b\Zxl_]hg_kfhljy gZ keZ[_xsb_ nbabq_kdb_ kbeu < lZdbo kemqZyo ikbobq_kdh_ jZ\gh\_kb_ h[_ki_qb\Z_lky m^h\e_l\hj_gguf q_klhex[b_f Ijb gZ[ex^_gbb gZ^ ^_fhgkljZlb\gufb q_jlZfb oZjZdl_jZ qZs_ \k_]h hlf_qZ_lky kdehgghklv bkl_jbdh\ d ©[_]kl\m \ [he_agvª B ^_ckl\bl_evgh lZdZy nhjfZbkl_jbq_kdhcj_Zdpbb²hq_gvlbibqgZ^ey\k_obkl_jbdh\<kydh_aZljm^g_gb_\kydbc dhgnebdl^Z`_ijhklh_`_eZgb_g_fgh]hh[e_]qblvk_[_`bagvgZ\h^ylbogZfukevh lhfqlh \uoh^hfbakha^Z\r_]hkyiheh`_gbyy\ey_lky[he_agv;hevgh]hg_evaygbd q_fmh[yaZlv_]h \k_`Ze_xlh g_faZ[hlylky[he__lh]hijb^ebl_evghfaZ[he_\Zgbbfh`ghjZkkqblu\Zlvb gZ khpbZevgh_ h[_ki_q_gb_ gZ ihemq_gb_ i_gkbb ?keb [u wlbo nhjf ]hkm^Zjkl\_ggh]h h[_ki_q_gby g_ kms_kl\h\Zeh lZdbo bkl_jbdh\ klZeh [u ]hjZa^h f_gvr_ h^gZdh \k_ jZ\gh fgh]b_ ba gbo kiZkZebkv [u ©[_]kl\hf \ [he_agvª jZkkqblu\Zy gZ `Zehklv b aZ[hleb\hklv ^h[juoex^_c< [hevrbgkl\_`_kemqZ_\hkgh\gu_bkl_jbq_kdb_j_Zdpbbijbgyeb[u\ lZdhf kemqZ_ bgu_ nhjfu >jm]hc nhjfhc bkl_jbq_kdh]h j_Z]bjh\Zgby y\ey_lky g_ihjy^hqghklv ih hlghr_gbxd hdjm`Zxsbfex^yfbkl_jbq_kdb_j_Zdpbbb^mlhdjm`Zxsbf\h\j_^Z bkl_jbdm ²gZihevam :gblZ ; ] jh`^ m`_ \ rdhe_ [ueZ \_kvfZ q_klhex[b\Z Ba[jZ\ ki_pbZevghklv ^_ehijhba\h^bl_eyk_dj_lZjy hgZ [ukljh b m\_j_ggh ih^gbfZeZkv ih kem`_[ghc e_klgbp_ GZqZevgbd mqj_`^_gby [ue \ukhdh]h fg_gby h ; b ^Z\Ze _c hl\_lkl\_ggu_ ihjmq_gby <ujZ`_gb_fhkh[h]h^h\_jby[uehb lhqlh;[ueZba[jZgZijhnkhxagufdZagZq__f< lh`_ \j_fydhee_]bg_^hex[eb\Zeb;hgZ\_qghdbqbeZkvk\hbfbhj]ZgbaZlhjkdbfbkihkh[ghklyfb ih^q_jdb\ZeZ qlh gZqZevkl\h p_gbl __ dZd gbdh]h ^jm]h]h Gh lZd dZd \ h[s_f wlh khhl\_lkl\h\Zeh^_ckl\bl_evghklbijhlb\lZdhcihabpbb;b \hajZ`Zlvlh[uehg_q_]h< [ulm hgZ [ueZ q_eh\_dhf k [hevrbfb ij_l_gabyfb klZjZeZkv qlh[u \ ^hf_ m g__ \k_ [ueh ^h[jhlg__dhfnhjlZ[_evg__b djZkb\__q_fm ^jm]boWlhlj_[h\Zeh[hevrbojZkoh^h\< ]ijhbahreZl_ogbq_kdZyj_hj]ZgbaZpbyijhp_^mjuk^Zqbijhnkhxaguo\aghkh\b \j_f_gghg_ [uehykghklb\ lhfdm^Zbf_gghk^Z\Zlv^_gv]b;gZreZ\uoh^kZfZ²hgZ\hh[s_i_j_klZeZ bo k^Z\Zlv >_gv]b ^_j`ZeZ \ rdZnm \ k\h_c jZ[hq_c dhfgZl_ b bkihevah\ZeZ ^ey ebqguo jZkoh^h\Kbkl_fZlbq_kdh_ijbk\h_gb_;ijhnkhxaguo^_g_][uehjZkdjulhebrvq_j_a]h^Z <h \j_fy h[ke_^h\Zgby ; ^_j`ZeZkv gZijy`_ggh g_^h\_jqb\h Ijb mihfbgZgbb h __ m]heh\ghijZ\h\uo gZjmr_gbyo hl\_qZeZ aeh[gh aZy\eyy qlh \k_ wlh g_ [he__ q_f g_^hjZamf_gb_AZl_f;gZqbgZeZjZau]ju\Zlvhkdhj[e_ggmxg_\bgghklvkihjbeZb hljbpZeZ \k_ qlh agZqbehkv \ km^_[guo ZdlZo <jZqb ij_^eh`beb ih^\_j]gmlv ijh\_jd_ __ bgl_ee_dlmZevgu_ ^Zggu_ kkueZykv gZ lh qlh m h[ke_^m_fhc \hafh`gu ikbobq_kdb_ gZjmr_gby ; `b\h mo\ZlbeZkv aZ wlh ij_^eh`_gb_ Ohly ij_^u^msb_ h[ke_^h\Zgby k\b^_l_evkl\h\Zebh \iheg_ghjfZevghfbgl_ee_dl_l_i_jvhgZklZeZ^_fhgkljbjh\ZlvdZjlbgm lbiZik_\^h^_f_gpbbIjbijhkl_crbo\hijhkZo;^he]hjZa^mfu\ZeZgZ^hl\_lhfk [hevrbf ljm^hfhl\_qZeZkdhevdh[m^_l©AOAªb ©OªQZklh;]h\hjbeZ©GZwlhl\hijhkhl\_lblvg_ fh]mª ohly ^h wlh]h gZ ZgZeh]bqguc \hijhk ^Z\ZeZ \_jguc hl\_l OZjZdl_jgh qlh \h \j_fy ijh\_jdb bgl_ee_dlmZevguo \hafh`ghkl_c iheghklvx bkq_aeZ __ jZa^jZ`bl_evghklv \jZ`^_[ghklv L_i_jv ; klZjZeZkv \ua\Zlv `Zehklv hlqZygb_f ih ih\h^m k\h_c mfkl\_gghc g_iheghp_gghklbqZklhgZqbgZeZju^ZlvGh\ZyihiuldZgZihfgblv;h __\bg_\gh\v\ua\ZeZ hljbpZgb_\bgukbevgh_jZa^jZ`_gb_b aehklv I_j_^ gZfb `_gsbgZ ^hklb]rZy \ukhdh]h kem`_[gh]h iheh`_gby ;m^mqb hlebqguf jZ[hlgbdhf hgZ k ]hlh\ghklvx [jZeZ gZ k_[y ^hihegbl_evgu_ gZ]jmadb D wlhfm __ g_khfg_ggh lhedZeh q_klhex[b_ qlh ih^l\_j`^Z_lky b __ aZghkqb\hklvx ih hlghr_gbx d khkem`b\pZf < bklhjbb [he_agb lZd`_ [jhkZxlky \ ]eZaZ ^_fhgkljZlb\gu_ q_jlu ebqghklb <k_ ih\_^_gb_ ; ]h\hjbl h `_eZgbb \u^_eblvky [ulv aZf_lghc Bf_ggh \ k\yab kh \lhjhc q_jlhc ^Zgghc Zdp_glmbjh\Zgghc ebqghklb klZeb \hafh`gu b m]heh\gu_ gZjmr_gby <_^v Z\ZglxjbkldZ g_ fh]eZ g_ agZlv qlh jZgh beb iha^gh ijbk\h_gb_ _x ]hkm^Zjkl\_gguo ^_g_] [m^_l h[gZjm`_gh ?kl_kl\_ggh ij_^iheh`blv qlh kljZo g_ ^Z\Ze _c gb fbgmlu ihdhy Gh h[eZ^Zy k\hckl\hf \ul_kgylv \k_ g_ijbylgh_ hgZ hklZ\ZeZkv \ ij_\hkoh^ghf gZkljh_gbb b ijh^he`ZeZ k\hb m]heh\gh gZdZam_fu_ ^_ckl\by Ijb h[ke_^h\Zgbb q_jlu b lh]h b ^jm]h]h ihjy^dZijhy\bebkv qj_a\uqZcgh yjdh q_jlu aZklj_\Zgby ² \h \jZ`^_[ghf hljbpZgbb \bgu ^_fhgkljZlb\gu_q_jlu²\ dZjlbg_ik_\^h^_f_gpbb< aZ\bkbfhklbhllh]hk dZdhcklhjhgu ih^oh^blv d h[ke_^m_fhc __ fh`gh jZkp_gb\Zlv lh dZd iZjZghcyevgmx lh dZd ^_fhgkljZlb\gmx ebqghklv Khq_lZgb_ aZklj_\Zxsbo b ^_fhgkljZlb\guo q_jl jZkihagZ_lky m`_\ ^_lkl\_b fh`_ljZa\b\Zlvky\ g_kdhevdbojZaebqguogZijZ\e_gbyo>_lblZdh]hkdeZ^Z\ rdhe_ qZklh [u\Zxl \_kvfZ q_klhex[b\u b klZjZl_evgh mqZlky ohly m gbo \b^bfh \iheg_ \hafh`gu [ueb [u bkl_jbq_kdb_ j_Zdpbb b]ghjbjh\Zgby g_ijbylgh]h IjbagZgb_ kh klhjhgu mqbl_e_c b \hkiblZl_e_c h[_j_]Z_l wlbo ^_l_c hl kju\h\ Bgh]^Z fh`gh gZ[ex^Zlv dZd q_klhex[b_ m j_[_gdZ k bkl_jbq_kdbfb q_jlZfb i_j_jh`^Z_lky \ imklh_ ls_keZ\b_ ^ey m^h\e_l\hj_gby dhlhjh]h hg ijb[_]Z_l d g_q_klguf kj_^kl\Zf Gb`_ \ dZq_kl\_ ijbf_jZ ijb\h^blky hibkZgb_ j_[_gdZ m dhlhjh]h jZa\blb_ lZdhc keh`ghc Zdp_glmZpbb ijhoh^beh bf_ggh\h\lhjhfgZijZ\e_gbbP_ee_jm`_hibku\ZewlhlkemqZc\ gZr_fkh\f_klghfljm^_ Jhevn= \ e_lihklmibe \ gZr_ ^_lkdh_ hl^_e_gb_ Jh^bl_eb jZa\_^_gu fZlv ² gZlmjZ y\gh ls_keZ\gZy hl_p hlebqZ_lky k\h_gjZ\b_f [hevrhc kihjsbd Jhevn m`_ \ ^_lkdhf kZ^m klj_fbeky[ulv\ p_glj_\k_h[s_]h\gbfZgbyjZkkdZau\Zej_[ylZfjZagu_g_[uebpu>hfZ_]h ^_j`Zeb \ [hevrhc kljh]hklb dhlhjhc hg ih^qbgyeky \_kvfZ g_hohlgh < rdhe_ mqbeky gZ ©ohjhrhª b ©hlebqghª gh ^bkpbiebgZ [ueZ g_m^h\e_l\hjbl_evghc IhemqZy \u]h\hj hl mqbl_e_cg_j_^dhp_^bekd\havam[u©KdhlbgZluªQZklhJhevnk\hbfbijh^_edZfbkf_rbe ^_l_cg_dhlhju_^_lb\hafmsZebkvqlhhgk\hbfbdehmgkdbfb\uoh^dZfbf_rZ_laZgbfZlvky < kihjZoJhevng_j_^dh^hoh^be^h[_r_gkl\Zb [jhkZeky[_kihsZ^ghba[b\Zlvlh\Zjbs_c<h \j_fymjhdh\ihklhyggh[_]ZeihdeZkkmJhevnhq_gvobl_jex[bl^jZagblvb aeb]vlh\Zjbs_c LZddZdk\hbfgZ]eufih\_^_gb_fhg©ijhkeZ\bekyªgZ\kxrdhem_fmklZebijbibku\Zlv\bgm aZ\k_kdZg^Zevgu_\uoh^db\ rdhe_\ dhlhjuohgb g_ijbgbfZemqZklby< dhgp_dhgph\\k_ mq_gbdb klZeb \jZ`^_[gh d g_fm hlghkblvky Hkh[_ggmx ZglbiZlbx Jhevn bkiulu\Ze d ^_\hqdZflZddZd^_\hq_dh[t_^bgb\rbkv\kydbcjZadh]^ZJhevngZjmrZekihdhckl\b_\ deZkk_ [beb _]h Hgb gZau\Zeb _]h ©Jhevn^mjZdª Hg ^jm`be lhevdh k lZdbfb `_ hlty\e_ggufbgZjmrbl_eyfb^bkpbiebgu dZdkZf< gZr_fhl^_e_gbb Jhevn iulZeky aZgylv kj_^b ^_l_c ©i_j\h_ f_klhª b b]jZlv jhev \h`ZdZ K wlhc p_evx hg hlqZyggh e]Ze H^gZ`^u ihke_ \uoh^guo ^g_c Jhevn aZy\be qlh ih[u\Ze \ wlb ^gb \ KKKJ b \ ^hdZaZl_evkl\h ijh^_fhgkljbjh\Ze gZ[hj kh\_lkdbo p\_lguo dZjZg^Zr_c ^_ebeky \i_qZle_gbyfb h k\h_c ©ih_a^d_ªDZdiha`_\uykgbehkvgb]^_Jhevng_[ueZ dZjZg^Zrbijb\_a_]hhlqbf_a^b\rbc \ KKKJJhevnmmdZaZebqlhg_evay[ulvlZdbf\jZe_fghhghklZ\bewlbkeh\Z[_a\gbfZgby I_j_^ \ajhkeufb Jhevn \ debgbd_ jbkh\Zeky klZjZykv ijhba\_klb ohjhr__ \i_qZle_gb_ k ^_lvfb`_ihklhygghkkhjbeky[jZgbekyb e_a\ ^jZdm I_j_^gZfb\_kvfZq_klhex[b\uc^_\ylbe_lgbcfZevqbdQ_klhex[b_klbfmebjh\Zeh_]h mki_ob\ rdhe_Djhf_lh]hhgklj_fbeky\k_]^Z[ulv\ p_glj_\gbfZgby[ulv\h`Zdhf?]h g_^bkpbiebgbjh\Zggh_ih\_^_gb_jZagu_rZehklb\iehlv^hoZfkdbo\uoh^hd² wlhg_ qlh bgh_dZdihiuldb\u^_eblvky< wlhfm]Z^u\Zxlkybkl_jbq_kdb_q_jluHgbih^l\_j`^Zxlky lZd`_ obljhklvx b [_am^_j`ghc eh`vx H^gZdh _keb m JhevnZ gZf_j_gb_ ©ml\_j^blvª k_[y kju\Zehkv ihy\eyebkv iZjZghbq_kdb_ j_Zdpbb hg gZqbgZe ^jZlvky Ex[hiulgh qlh lZdh_ ih\_^_gb_[uehk\hckl\_gghJhevnm_s_\ ^_lkdhfkZ^mM`_lh]^ZhgklZjZeky[ulv\ p_glj_ \gbfZgby qZklh h[fZgu\Ze <hafh`gh [ueb ^hims_gu dZdb_lh hrb[db \ \hkiblZl_evghf ijhp_kk_<hafh`ghh^gZdhb ^jm]h_fZevqbdfh]mgZke_^h\Zlvq_jluaZklj_\Zxs_cebqghklb hl hlpZ Z q_jlu ^_fhgkljZlb\ghklb ² hl e_]dhfuke_gghls_keZ\ghc fZl_jb <_kvfZ hiZkgh khq_lZgb_ q_jl aZklj_\Zxs_c b \ha[m^bfhc ebqghklb <_^v m`_ dZ`^Zy ba wlbo q_jl \ hl^_evghklb\_^_ld kbevguf\kiurdZfZnn_dlZGb`_ijb\_^_fijbf_jhibkZgguc;_j]fZg\ __ fhgh]jZnbbWlh]hh[ke_^m_fh]hgZ[ex^Zeb y <beeb < ihklmibe \ debgbdm \ yg\Zj_ ] dZd khpbZevgh hiZkguc Hl_p hlebqZeky kbevghc \kiuevqb\hklvx Ih fZe_cr_fm ih\h^m hg ba[b\Ze k\hbo ljhbo ^_l_c dgmlhf \ ijbiZ^dZo yjhklb ehfZe f_[_ev Gb \ q_f g_ l_ji_e \hajZ`_gbc H^gZ`^u dh]^Z h^bg ba kugh\_c meu[gmeky \ hl\_l gZ _]h aZf_qZgb_ hg aZimklbe _fm \ ]heh\m lZj_edhc ;jZlvy < lZd`_hq_gvjZa^jZ`bl_evgu < k xghklb e_]dh\ha[m^bf ih^hajbl_e_g b k fhf_glZ \klmie_gby \ [jZd hq_gv j_\gb\ Ihke_r_klbe_lkmijm`_kdhc`bagb\hagbdeZkeh`gZykblmZpby<ihk_sZe\_q_jgxxrdhem ]hlh\ykv d k^Zq_ wdaZf_gh\ gZ Zll_klZl aj_ehklb @_gZ d dhgpm aZgylbc qZklh ih^oh^beZ d a^Zgbxrdheuqlh[u\klj_lblvfm`Zb \f_kl_b^lb^hfhcgh<ijbwlhfihevah\Zeky^jm]bf \uoh^hfbardheu@_gZ\hkiueZ\j_\ghklvxih^ZeZ\ ]aZy\e_gb_h jZa\h^_GZdZgmg_ [jZdhjZa\h^gh]h ijhp_kkZ kmijm]b ihfbjbebkv km^ [ue hleh`_g gZ f_kyp_\ <kdhj_ ihke_ wlh]h`_gZm_oZeZd jh^gufDh]^ZhgZ\_jgmeZkvjZajZabekykdZg^Ze`_gZkuigmeZ<\ ]eZaZ p_euc iZd_lbd i_jpZ < gZg_k _c kbevguc m^Zj \ i_j_ghkbpm Ihke_ wlh]h fZy ] ihke_^h\ZejZa\h^fZy<jZa]jhfbekiZevgx`_guihke_q_]hy\bekyk ih\bgghc\ ihebpbx b [ueZj_klh\ZgKm^ijb]h\hjbe_]hd lxj_fghfmaZdexq_gbxAZh[jZaph\ucljm^ihf_klm aZdexq_gby_]hhk\h[h^beb^hkjhqgh^_dZ[jy]<ij_^iheZ]Ze\_jgmlvkyd [u\r_c `_g_h^gZdhhgZ\u_oZeZ\ NJ=<hlijZ\bekyd g_ckhklhyehkvijbfbj_gb_h[Z\_jgmebkv\ =>J< ghy[j_]<\klmibe\ k\yavk ^jm]hc`_gsbghcghq_j_aljbg_^_ebihj\Zek g_c G_f_^e_ggh ihke_ wlh]h hg hlijZ\beky d [u\r_c `_g_ b mfheye __ \_jgmlvky d g_fm @_gZ gZhlj_ahldZaZeZkvHgklZe_`_^g_\ghih^kl_j_]Zlv__ m^_lkdh]hkZ^Z\ dhlhjhfhgZjZ[hlZeZ < dZgmgjh`^_kl\Zhgk mebpujZa[bekl_deZ\ hdg_kiZevgbGZke_^mxsbc^_gvkgh\Zls_lgh \Zeyekym g__\ gh]ZoaZdebgZy\_jgmlvkyyg\Zjy]hiylvjZa[behdgZgZdmog_yg\Zjy ]<lZcdhfijh[jZeky\ ih^\Ze^hfZ`_gub dh]^ZhgZ\ha\jZsZeZkvk jZ[hlu`_klhdh ba[be __ GZdhg_p yg\Zjy `_gZ < aZf_lb\ qlh hg kgh\Z ih^`b^Z_l __ \hae_ ^_lkZ^Z h[jZlbeZkv \ ihebpbx b < [ue aZ^_j`Zg Ih keh\Zf `_gu < Z[khexlgh g_l_jibf d kZfhfm imklyqghfm \hajZ`_gbx K_dkmZevgh hg e_]dh\ha[m^bf b hq_gv ]jm[ M`_ q_j_a g_^_eb ih \ha\jZs_gbb ba NJ= gZqZebkv hlqZyggu_ kdZg^Zeu ohly [u\rb_ kmijm]b `beb _s_ ihjhagv HgZ ihklhyggh gZ[ex^ZeZ dZd < k q mljZ b ^h hdhgqZgby jZ[hq_]h ^gy hdheZqb\Zeky m ^_lkdh]h kZ^Z Bgh]^Z _c m^Z\Zehkv mebagm\ hl g_]h \kdhqblv \ ljZf\Zc lh]^Z < g_dhlhjh_ \j_fy[_`Zejy^hfk ljZf\Z_fm]jh`Zy_cb \udjbdb\ZyihoZ[gu_jm]Zl_evkl\Z< debgbd_< aZy\be qlh `_gm k\hx hg h[h`Z_l [_amfgh j_\gm_l b qlh hg dZd b \k_ jh^kl\_ggbdb ih hlph\kdhcebgbbkljZrghjZa^jZ`bl_e_g\kiuevqb\b h[b^qb\Hgg_ohl_e`blvgZk\h[h^_ [_a `_gu m` emqr_ hlkb`b\Zlv \ lxjvf_ \k_ jZ\gh ex[bfZy `_gsbgZ hl g_]h hl\_jgmeZkv Fbfhe_lgmxk\yavk ^jm]hc`_gsbghchgkqblZ_lg_ba]eZ^bfhck\h_c\bghci_j_^`_ghc\_^v l_i_jvhgZgZ\_dbhl\_jg_lkyhlg_]hGh\ lh`_\j_fywlh[_kbl_]h^hlZdhckl_i_gbqlhhg ]hlh\m[blv`_gm©Dh]^Zy ^hoh`m^h[_r_gkl\Zfg_\k_[_ajZaebqghª < fh`ghjZkp_gblv dZd aZklj_\Zxsmx ebqghklv Wlhl lbi Zdp_glmZpbb \k_]^Z kdehg_g d ih^hajbl_evghklbb j_\ghklbHibkZggZykblmZpbyihkem`beZ^ey<lheqdhfd iZjZghbq_kdhfm jZa\blbx dhlhjh_ \ kbem g_jh\gh]h ih\_^_gby `_gu ihjh^beh ©ihegmx ex[\b g_gZ\bklvª klhevoZjZdl_jgmx^eyih^h[guokemqZ_\QZklbqghlZdb ke_^m_lh[tykgblv_]hZdlugZkbeby Ij_^gZf_j_ggu_ gZkbevkl\_ggu_ ^_ckl\by i_j_f_`Zebkv m g_]h k kh\_jr_ggh [_kdhgljhevgufb \aju\Zfb Znn_dlZ A^_kv hq_\b^gh iZjZghcyevgu_ q_jlu ebqghklb ihkem`beblheqdhfd gZkbebxZ wibe_ilhb^gucoZjZdl_jihjh^beoh^^_ckl\bcl_ihklmidb K\hxaZ\bkbfhklvhl\e_q_gbc<ijhy\beb \lhfqlhg_kfhljygZkbevgmxijb\yaZgghklvd `_g_\klmibe\h\j_f_ggmxk\yavkhkemqZcghc`_gsbghc?]hjZamfgZyfZg_jZih\_^_gby\h \j_fy [_k_^ \ debgbd_ hq_gv ykgh ihdZau\Z_l ^h dZdhc kl_i_gb Znn_dlu q_eh\_dZ hkh[_ggh ijb khq_lZgbb iZjZghcyevghc b wibe_ilhb^ghc Zdp_glmZpbb \eZklgu \_klb _]h kh\k_f g_ ih lhfmimlbihdhlhjhfmhgkZfgZf_j_gb^lbHq_\b^ghijbklmiu[_am^_j`gh]h\ha[m`^_gby < mgZke_^h\Ze hl k\h_]h hlpZ G_[eZ]hijbylgu_ khklhygby gZijy`_gby ijb Znn_dlZo \hagbdZxsb_ ijb khq_lZgbb aZklj_\Zxsbo b \ha[m^bfuo q_jl oZjZdl_jZ ijhy\eyxlky m`_ \ ^_lkl\_ Hq_gv y\kl\_ggh wlh ke_^m_l ba ijbf_jZ dhlhjuc ijb\h^bf gb`_ J_qv b^_l h fZevqbd_hibkZgghf;_j]fZg\ gZr_fdhee_dlb\ghfljm^_ <hevn]Zg]Z>e_ljh^bl_ebijb\_eb\ gZrmihebdebgbdmihih\h^m[_r_guo\kiur_d yjhklb gZklmiZxsbo dh]^Z _fm \ q_feb[h i_j_qZl Rdhevgu_ mqbl_ey `Zemxlky gZ mijyfkl\hZ]j_kkb\gu_ihklmidb<k_iehob_hp_gdbhgkqblZ_lg_kijZ\_^eb\ufbihemqZybo r\ujy_ldgb]bb l_ljZ^bgZihelhiq_lbogh]ZfbihljykZyijbwlhfdmeZdZfbHgm`_g_jZa kju\Ze yjhklv gZ khmq_gbdZo Z h^gZ`^u ijb]jhabe mqbl_evgbp_ ©?keb y ihemqm iehomx hp_gdmlh<bdlhjm<g_k^h[jh\ZlvªMqbl_evgbpZg_\ kbeZokijZ\blvkyk wlbfj_[_gdhfHg khijhlb\ey_lky lj_[h\Zgbyf ^jm]bo mqbl_e_c [jhkZ_lky gZ ihe pZjZiZ_lky dmkZ_lky \h_l < hdly[j_ ] \ k\yab k khklhygb_f \ha[m`^_gby ^eysbfky g_kdhevdh ^g_c b g_\hafh`ghklvxkh^_j`Zgby<hevn]Zg]Z\ ^hfZrgbomkeh\byofZevqbd[ue]hkiblZebabjh\Zg \ gZrm debgbdm <h \j_fy klZpbhgZjgh]h e_q_gby [ueb kh[jZgu ^hihegbl_evgu_ k\_^_gby \ rdhe_ fZevqbd \ kZfhf gZqZe_ijhoh`^_gby l_fu ihgyleb\ b kihkh[_g mki_rgh jZ[hlZlv gh \kdhj_ ihy\eyxlky ijbiZ^db yjhklb ih^ju\Zxsb_ ^bkpbiebgm \k_]h deZkkZ <hevn]Zg] ©ih^dZeu\Z_lª khmq_gbdh\ i_jvyfb dZjZg^ZrZfb Z _keb hlgylv m g_]h wlb ij_^f_lu ² ihijhklm [v_l bo ih ]heh\_ [ZrfZdhf FZlv b hl_p j_Z]bjh\Zeb gZ \uoh^db fZevqbdZ [mjgh g_j_^dh[beb_]hAZsbsZykv<hevn]Zg]\k_]^ZgZklZb\ZegZk\h_fH^gZ`^uhgko\ZlbehlpZ aZ]hjehb klZe^mrblv_]h< debgbd_fZevqbd^_j`Zeky\gZqZe_gZijy`_ggh[ue\jZ`^_[gh gZkljh_g Ihklhyggh`Zeh\Zeky gZ k\hx rdhem hkh[_ggh gZ h^gm mqbl_evgbpm >_l_c feZ^r_ k_[yklZjZekyih^qbgblvk\h_fm\ebygbxK ^jm]hcklhjhguhgjZ^h\Zeky\kydhfmihhsj_gbx Ih\ha\jZs_gbb\ rdhem<hevn]Zg]g_dhlhjh_\j_fy\_ek_[yghjfZevghb g_iehohmqbekyGh lZdb_i_jbh^u\k_]^Z[uebg_^he]bfb<kdhj_hg\gh\vl_jyekZfhh[eZ^Zgb_gZqbgZedjbqZlv ba[b\Zlvlh\Zjbs_cIhke_e_q_gby\ debgbd_\ha[m^bfhklvh[uqghkgb`ZeZkvgh^hklb]gmlv ihklhygghcmjZ\gh\_r_gghklbgZflZdb g_m^Zehkv Ihkdhevdmjh^bl_eb<hevn]Zg]ZgZlmju[mjgu_\hkiblZgb__]hg_khfg_gghijh\h^behkv [_a hkh[hc ihke_^h\Zl_evghklb Gh \k_ `_ ly`_eu_ \aju\u Znn_dlZ m j_[_gdZ g_ fh]ml [ulv hlg_k_guebrvaZkq_l\hkiblZgbyGZb\ukr_cklmi_gbhgb^hklb]Zeb\ rdhe_b ^Z\Zebk_[y ihqm\kl\h\Zlv^Z`_\ gZr_f^_lkdhfhl^_e_gbbKZfucimklydh\ucih\h^ijb\h^befZevqbdZ\ yjhklv\g_aZighklvb [_ajZkkm^kl\hdhlhjhcmdZau\ZxlgZq_jluwibe_ilhb^gh]hoZjZdl_jZGh Znn_dl _]h [ue g_ lhevdh bfimevkb\guf gh b hq_gv ^ebl_evguf \ q_f kdZau\Z_lky iZjZghcyevgZy klhcdhklv WlZ q_jlZ ijhy\eyeZkv \h \jZ`^_[ghklb d mqbl_eyf hljbpZl_evgh_ hlghr_gb_ dhlhjuo fZevqbd kqblZe g_kijZ\_^eb\uf <h \j_fy e_q_gby gZf m^Zehkv Zdlb\babjh\Zlv ihablb\guc dhfihg_gl _]h iZjZghcyevgh]h oZjZdl_jZ fu ihklZjZebkv klbfmebjh\Zlv_]hq_klhex[b_gh\k_`_\kiurdb\hagbdZebkgh\Ziheghklvxih^Z\blvbolZd b g_ m^Zehkv GZ iZjZghcyevfh_ gZqZeh \ ebqghklb wlh]h j_[_gdZ [ueh e_]q_ \ha^_ckl\h\Zlv q_fgZwibe_ilhb^gh_Q_klhex[b\u_fhf_glugZh[s_fnhg_aZklj_\Zgby[uebaZf_lgu_s_\ rdhe_]^_fZevqbdg_kfhljygZhl\jZlbl_evgh_ih\_^_gb_\k_`_g_iehohmqbeky\ hlebqb_hl \ha[m^bfuo ^_l_c dhlhju_ dZd ijZ\beh g_ lhevdh g_^bkpbiebgbjh\Zggu \ rdhe_ gh b aZimkdZxlmq_[mWibe_ilhb^gZy\aju\qZlhklvfh`_lhdZaZlvkyhkh[_gghhiZkghc\ l_okemqZyo dh]^Z hgZ khq_lZ_lky k bkl_jbq_kdhc kdehgghklvx d j_Zdpbyf lbiZ dhjhldh]h aZfudZgby :nn_dlb\gu_ ijhy\e_gby \ wlbo kemqZyo g_ihkj_^kl\_ggh i_j_oh^yl \ ^_ckl\by Kj_^b ebqghkl_c k lZdbf khq_lZgb_f q_jl oZjZdl_jZ fg_ ijbrehkv gZ[ex^Zlv g_kdhevdh kemqZ_\ gZkbebyH^bglZdhcfm`qbgZklZem[bcp_ck\h_]hgh\hjh`^_ggh]hj_[_gdZ WjgklR]jh`^\f_kl_k `_ghch`b^Zejh`^_gby\lhjh]hj_[_gdZdhlhjuc[ue ^ey g_]h g_`_eZl_evguf Hg kqblZe wlh g_k\h_\j_f_gguf \gZqZe_ gZ^h dmiblv ^hfbd b ihkljhblv ]ZjZ` KgZqZeZ hg iulZeky m]h\hjblv `_gm k^_eZlv Z[hjl gh hgZ g_ ihreZ gZ wlh Ihke_ihy\e_gbygh\hjh`^_ggh]hgZk\_lRaZ\_jgme_]h\ dmiZevgucoZeZlb hlg_kgZq_j^Zd FeZ^_g_p aZ^hogmeky R aZ\_jgme _]h \ h[_jlhqgmx [mfZ]m \ug_k gZ mebpm b iheh`be \ km]jh[RkqblZ_lkyohjhrbfjZ[hlgbdhf\k_\j_fyjZ[hlZ_lgZh^ghff_kl_hgki_pbZebkl ih ba]hlh\e_gbx Z\lhfh[bevguo dmah\h\ >h kh\_jr_gby ij_klmie_gby m g_]h g_ [ueh km^bfhkl_c Ih k\b^_l_evkl\m jh^guo R h[eZ^Z_l \_kvfZ [mjguf l_fi_jZf_glhf <iZ^Zy \ ]g_\ fh`_l ih^gylv jmdm gZ h[b^qbdZ Ibsm dhlhjZy _fm g_ gjZ\blky fh`_l r\ujgmlv h kl_gm GZ jZ[hl_ _]h g_\u^_j`Zgghklv [ueZ ba\_klgZ gh Z]j_kkb\ghklv hg a^_kv gbdh]^Z g_ ijhy\eye DZd mf_euc fZkl_j R aZjZ[Zlu\Ze [hevr_ lh\Zjbs_c <hafh`gh ^Zggh_ f_klh jZ[hlu ijb\e_deh _]h bf_ggh ohjhrbf aZjZ[hldhf >_gv]b gZ Z\lhfh[bev hg aZjZ[hlZe kh[kl\_gguf ljm^hf Ih keh\Zf khljm^gbdh\ R hohlgh jZau]ju\Ze ba k_[y dehmgZ ex[be ©ehfZlvkyª Ijb h[ke_^h\Zgbb bgl_ee_dlmZevgh_ jZa\blb_ R hdZaZehkv \ ghjf_ gh hg [ue qj_a\uqZcguflm]h^mfhf]h\hjbef_^e_gghk qZklufbiZmaZfbi_j_kijZrb\Ze< ^\b`_gbyo lZd`_ ly`_eh\_k_g fZehih^\b`_g Ijb bkke_^h\Zgbb bgl_ee_dlmZevgh]h mjh\gy \ ijh[_ gZ ijh^mdlb\ghklv hg gZa\Ze \k_]h keh\ Ijb h[km`^_gbb _]h m]heh\gh]h ij_klmie_gby [jhkZeZkv \ ]eZaZ g_ klhevdh hibkZggZy ly`_eh\_kghklv hgZ g_ ij_iylkl\h\ZeZ \aZbfhihgbfZgbxdZdl_g^_gpbyijhoh^blvfbfhjy^Z\hijhkh\Djhf_lh]hhg\gh\vb \gh\v klZjZeky lZd beb bgZq_ kfy]qblv i_j_^ gZfb k\hx \bgm gh lml `_ ^h[Z\eye qlh \bgu dZd lZdh\hc wlh k g_]h g_ kgbfZ_l GZ dhgdj_lgh ihklZ\e_ggu_ \hijhku R hl\_qZe aZ\_^hfhc eh`vx Ba _]h jZkkdZaZ y\kl\h\Zeh qlh hg ^h kZfh]h jh`^_gby j_[_gdZ gZ^_yeky qlh `_gZ k^_eZ_lZ[hjlDh]^ZgZqZebkvjh^uiha\ZlvZdmr_jdmhgydh[ug_mki_eIh^jm]hc\_jkbbR ih^mfZeqlhm `_gu\udb^ur?]hl_ldZd dhlhjhchg\ q ghqbijb\_elj_oe_lgxx^hqdmg_ bf_eZ gb h q_f ihgylby Ex[hiulgh qlh ijb ih^h[guo hibkZgbyo hg g_kfhljy gZ k\hx ly`_eh\_kghklv klZgh\beky \_kvfZ keh\hhohleb\uf b dZd [u ©\`b\Zekyª \ wlb ihemijb^mfZggu_bklhjbbDh]^Zfuh[jZsZeb\gbfZgb_RgZ]jm[h_bkdZ`_gb_nZdlh\\ _]h jZkkdZa_ gZ jy^ g_kh\iZ^_gbc k ^_ckl\bl_evguf iheh`_gb_f \_s_c hg kfmsZeky ebrv gZ g_kdhevdh f]gh\_gbc Z aZl_f hiylv ijh^he`Ze k\h_ Ijb wlhf hg \ iZl_lbq_kdhc nhjf_ \ukdZau\Zebkdj_gg__m^b\e_gb_ihih\h^mlh]hqlh_fmg_\_jylIh\_^_gb_RklZehkh\k_f bguf dh]^Z y kijhkbe h _]h m\e_q_gbyo >Z hg ^_j`Ze b ihqlh\uo ]hem[_c b djhebdh\ ;hevrmx jhev \ _]h `bagb b]jZe Z\lhfh[bev Hg ihqlb gb]^_ g_ [u\Ze lZd dZd \ k_fv_ qm\kl\h\Ze k_[y emqr_ \k_]h D `_g_ hg bkdj_gg_ ijb\yaZg dh]^Z `_ fu aZ]h\hjbeb h lj_oe_lg_c^hqmjd_gZ]eZaZom g_]hihy\bebkvke_au Ly`_eh\_kghklv b f_^ebl_evghklv \ khq_lZgbb k jZa^jZ`bl_evghklvx mdZau\Zxl gZ \ha[m^bfhklv ebqghklb Wlhfm Zdp_glmbjh\Zgghfm oZjZdl_jm h[ke_^m_fh]h khhl\_lkl\h\Zeh iehlgh_ dhj_gZklh_ l_ehkeh`_gb_ b ]jm[h\Zlh_ ebph MihjgZy eh`v ihiuldb kfy]qblv k\hx \bgm h[tykgyebkv hq_\b^gh g_ lhevdh \_kvfZ ihgylguf q_eh\_q_kdbf `_eZgb_f dZdlh hijZ\^Zlvk_[yohlyhgb g_hljbpZekh\_jr_ggh]hbfij_klmie_gbyH^gZdh_kl_kl\_gghklvk dhlhjhc hg e]Ze kZfhm\_j_gghklv dhlhjhc gbdZdb_ hijh\_j`_gby g_ fh]eb ihdhe_[Zlv g_kihkh[ghklvijbagZlvk_[ym[bcp_c²\k_wlhk\b^_l_evkl\m_lh lhfqlhRg_hkhagZ\Ze^h dhgpZ k\h_c e`b qlh hg kZf \ dZdhclh f_j_ \_jbe \ k\hx g_\bgh\ghklv < wlhf fu mkfZljb\Z_f q_jlu ^_fhgkljZlb\gh]h oZjZdl_jZ qlh ih^l\_j`^Z_lky b iZl_lbqghklvx b dehmgkdbfb \uoh^dZfb _]h gZ jZ[hl_ H[Z wlb lbiZ Zdp_glmZpbb kh_^bgbebkv dh]^Z hg kh\_jrbek\h_kljZrgh_ij_klmie_gb_Rg_ohl_ej_[_gdZ=g_\ihih\h^mlh]hqlh`_gZg_ ba[Z\beZkvhl[_j_f_gghklbih^kim^gh\hajZklZeGh\k_`_g_kfhljygZwibe_ilhb^gu_q_jlu oZjZdl_jZ RÄ ^_eh \_jhylgh g_ ^hreh [u ^h mf_js\e_gby j_[_gdZ _keb [u bkl_jbq_kdZy \kiurdZg_hl[jhkbeZ\ klhjhgm]hehkkh\_klbb [eZ]hjZamfbyIjbkhq_lZgbbaZklj_\Zxsbob i_^Zglbq_kdboq_jl\ khpbZevghfieZg_\hafh`gu\_kvfZiheh`bl_evgu_j_amevlZluBgh]^Zm lZdbo ebqghkl_c gZ[ex^Zxlky \ukhdb_ ^hklb`_gby W]hbklbq_kdZy l_g^_gpby aZklj_\Zgby kfy]qZ_lky Zevljmbklbq_kdbfb dZq_kl\Zfb i_^Zglbq_kdhc ebqghklb Ls_keZ\bx ohl_ehkv [u m[jZlv k ^hjh]b l_o dlh f_rZ_l k\_joqm\kl\bl_evghklv aZklZ\ey_l k\Zeb\Zlv \k_ gZ hdjm`Zxsbo h^gZdh kh\_kleb\hklv \ugm`^Z_l k\h_\j_f_ggh ih^mfZlv h \hafh`ghklb kh[kl\_gghc \bgu < j_amevlZl_ [_kp_j_fhgguc gb k q_f g_ kqblZxsbcky dZjv_jbaf ih^Z\ey_lky jZamfghc p_e_gZijZ\e_gghklvx ihklmidh\ < k\hxhq_j_^v hljbpZl_evgu_ q_jlu i_^Zglbqghklb lZd`_ kfy]qZxlky dh]^Z d gbf ijbkh_^bgy_lky ^jm]hc dhfihg_gl G_ijh^mdlb\gu_dhe_[Zgbyi_j_^ijbgylb_fdZ`^h]hj_r_gbyklZgh\ylkyfbgbfZevgufb\ l_o kemqZyo dh]^Z q_klhex[b_ j_rbl_evgh lj_[m_l gh\uo ^hklb`_gbc Fgh]b_ ij_\hkoh^gu_ ki_pbZebklu \ k\h_c h[eZklb h[eZ^Zxsb_ h^gh\j_f_ggh hlebqghc khpbZevghc ijbkihkh[ey_fhklvx d hdjm`_gbx y\eyxlky Zdp_glmbjh\Zggufb ebqghklyfb m dhlhjuo khq_lZxlky q_jlu aZklj_\Zgby b i_^Zglbqghklb Ijh^\b]Zykv ih gZf_q_gghfm imlb hgb klZjZxlky g_ ms_feylv bgl_j_kh\ ^jm]bo JZ[hlZ ^he`gZ [ulv gZ \ukhl_ ² \hl bo ijbgpbi Wlh]h lj_[m_l b p_e_mklj_fe_gghklv aZklj_\Zxs_c ebqghklb gh _s_ [hevr_ ² kheb^ghklv b ^h[jhkh\_klghklv i_^Zglbqghc IZjZghbq_kdh_ jZa\blb_ aZklj_\Zxs_c ebqghklb \uau\Zxs__ \jZ`^_[gh_ hlghr_gb_ d hdjm`Zxsbf lZd`_ lhjfhablky k^_j`b\Zxsbfb ZgZgdZklbq_kdbfb q_jlZfb oZjZdl_jZ Gh kms_kl\m_l b lZdh_ jZa\blb_ ijb dhlhjhf khq_lZgb_ h[_bo q_jl ijbh[j_lZ_lhljbpZl_evgh_agZq_gb_²wlhg_\jhlbq_kdh_khklhygb_\ hkgh\_dhlhjh]he_`bl kljZo DZd ba\_klgh b ZgZgdZklu b \ f_gvr_c kl_i_gb iZjZghcyevgu_ ebqghklb kdehggu d bihohg^jbq_kdhfm jZa\blbx Bf_ggh ihwlhfm fgh]b_ bihohg^jbdb h[eZ^Zxl h^gh\j_f_ggh q_jlZfb aZklj_\Zgby b i_^Zglbqghklb Ijb khq_lZgbb wlbo q_jl oZjZdl_jZ \hafh`_g hljbpZl_evguc j_amevlZl h^gZdh g_ \ ieZg_ ZkhpbZevgh]h ih\_^_gby Ijb wlhf gZ[ex^Zxlky ebrv ihklhyggu_ g_^hfh]Zgby b ihgb`_gb_ ljm^hkihkh[ghklb Zdp_glmbjh\Zgghc ebqghklb Ijb g_\jhlbq_kdhf jZa\blbb lZdhc ebqghklb h[t_^bgyxlky l_g^_gpby ZgZgdZklh\ d ©jZkdZqb\ZgbxªZnn_dlZb iZjZghcyevgZyl_g^_gpbyd _]hdmfmeypbb Ijb\h`m bklhjbx [he_agb h[ke_^m_fh]h dhlhjuc [ue \_kvfZ ^h[jhkh\_klguf b ij_mki_\Zxsbf ki_pbZebklhf gh hlebqZeky g_\jhlbq_kdbf kdeZ^hf ikbobdb Hg [ue m`_ hibkZg\ gZr_fdhee_dlb\ghfljm^_;_j]fZg :ev[bg > ] jh`^ m`_ \ rdhe_ hlebqZeky kZfhex[b_f b klZjZl_evghklvx Ih hdhgqZgbbrdheukgZqZeZjZ[hlZeihfhsgbdhfijh^Z\pZihkl_i_gghih^gyeky^h^he`ghklb aZf_klbl_ey^bj_dlhjZdjmigh]hlhj]h\h]hij_^ijbylbyAZl_faZhqghaZdhgqbei_^Z]h]bq_kdbc bgklblml klZe jZ[hlZlv mqbl_e_f <kdhj_ klZe ^bj_dlhjhf [hevrhc rdheu ^_l_c b gZdhg_p gZqZevgbdhf h[eZklgh]h hl^_eZ gZjh^gh]h h[jZah\Zgby Djhf_ lh]h > bf_e fgh]h h[s_kl\_gguo gZ]jmahd kbevgh i_j_mlhfbeky KZfh]h k_[y > oZjZdl_ jbam_l dZd q_eh\_dZ qm\kl\bl_evgh]hb e_]dh\ha[m^bfh]hg_\ughkys_]hgbfZe_cr_cg_kijZ\_^eb\hklb<kx^mk `ZjhfhghlklZb\Z_lk\hbijbgpbiugh_s_qZs_aZsbsZ_lbgl_j_kuhdjm`ZxsboaZqZklmx ijbh[j_lZy k_[_ \jZ]h\ > ² bkdexqbl_evgh ^h[jhkh\_klguc b bkihegbl_evguc q_eh\_d h[eZ^Z_l \ukhdbf khagZgb_f ^he]Z Ijb \uiheg_gbb ex[hc jZ[hlu hg g_ hlklmiZ_l hl gZf_q_gghc kbkl_fu b jZ[hlm g_ij_f_ggh ^h\h^bl ^h dhgpZ > kdehg_g d kZfhdhgljhex G_h^ghdjZlghijh\_jy_lk\hbaZibkbd ^hdeZ^Zfk dhlhjufb\uklmiZ_l©^ey]ZjZglbbª]hlh\ ijh\_jblvebrgbcjZa\udexq_gebk\_l]Zab l^Dh]^Z>[uehe_lhgbkiulZely`_euc klj_kk_]hlh\ZjbsjZa]hjyq_ggucb]jhc\ nml[hek `Z^ghklvx\uibedjm`dmoheh^ghc\h^u b lml`_miZef_jl\ufK lhcihju>g_iv_loheh^ghc\h^ug_ibe__^Z`_\ Zjfbbdh]^ZgZ [hevrbofZjrZokbevghkljZ^Zehl`Z`^uIhke_wlh]hkemqZy>gbdh]^Zg_ijbkmlkl\m_lgZ ihohjhgZog_ [u\Z_l gZ deZ^[bsZo Ijb jZa]h\hjZo h kf_jlb _]h ho\Zlu\Z_l kljZo Dh]^Z hg jZ[hlZekZgblZjhfijhkbelh\Zjbs_cba[Z\blv_]hhli_j_ghkdbljmih\g_j_rZeky\oh^blv\ bgn_dpbhggh_ hl^_e_gb_ [hevgbpu <ijhq_f gZ kh[kl\_ggu_ [he_agb hg jZgvr_ gbdh]^Z g_ `Zeh\Zeky K ] > kljZ^Z_l ljhf[hahf \_g h[_bo gh] Ihke_^g__ j_adh_ mom^r_gb_ gZklmibeh \ ] L_i_jv _]h qZklh klZe ©ijhrb[Zlv ihlª hlf_qZebkv hagh[u k_j^_qgu_ ijbklmiu Ohly ly`_eu_ y\e_gby aZdmihjdb \_g [ueb mkljZg_gu > g_ j_rZeky \uoh^blv gZ mebpmkqblZyqlhm g_]hly`dbck_j^_qgucg_^m]< j_amevlZl_²ihl_jyjZ[hlhkihkh[ghklbK ^bZ]ghahf ©ly`_euc bihohg^jbq_kdbc g_\jhaª ihklmibe \ gZrm debgbdm D gZrbf f_lh^Zf e_q_gbyiZpb_gl\ gZqZe_hlghkbekykd_ilbq_kdbIha`_gZfm^ZehkvgZclbijZ\bevgucih^oh^ Ijb \uibkd_ m > g_ [ueh gbdZdbo `Zeh[ < ohjhr_f khklhygbb hg kgh\Z ijbklmibe d k\h_c hl\_lkl\_gghcjZ[hl_ > ^hklb] \ `bagb fgh]h]h ?]h q_klhex[b_ khijh\h`^Zxs__ky kbevghc \i_qZlebl_evghklvx iha\hey_l k^_eZlv aZdexq_gb_ h lhf qlh i_j_^ gZfb aZklj_\ZxsZy Zdp_glmbjh\ZggZy ebqghklv H^gZdh ^\b`ms_c kbehc _]h ihklmidh\ [ueh g_ lhevdh q_klhex[b_i_^Zglbqghklv©aZ[hlbeZkvªh lhfqlh[u>g_klZe^_jadhkZfhgZ^_yggufmf_e \k_]^Z khojZgylv ^_eh\u_ b ^h[ju_ hlghr_gby dZd k ih^qbg_ggufb lZd b kh \k_fb hdjm`Zxsbfb< jZa\blbbg_\jhlbq_kdh]hkhklhygby\u[b\r_]h_]hbadhe_bmqZkl\h\Zebh[Z dhfihg_glZ _]h ebqghklb Lheqdhf d jZa\blbx ihkem`be kljZo \gmr_gguc aZ[he_\Zgb_f Hkh[uc bgl_j_k ij_^klZ\ey_l khq_lZgb_ q_jl \ha[m^bfhc wibe_ilhb^ghc b i_^Zglbq_kdhc ebqghklb b[h wlb q_jlu \ dZdhclh f_j_ ijhlb\hj_qZl ^jm] ^jm]m Fh`gh [ueh [u ij_^iheh`blvqlha^_kv^he`gh[ulv\ujZ\gb\Zgb_ih^h[gh_lhfmdhlhjh_gZ[ex^Z_lkyijb kh\f_s_gbbi_^Zglbq_kdbo b ^_fhgkljZlb\guo q_jl oZjZdl_jZ Ke_^m_l h^gZdh ih^q_jdgmlv qlh\ ihke_^g_fkemqZ_j_qv reZ h ijhlb\hihklZ\e_gbb \ h^ghc b lhc`_ ikbobq_kdhc kn_j_ Qlh `_ dZkZ_lky q_jl oZjZdl_jZ \ha[m^bfuo b i_^Zglbq_kdbo ebqghkl_c lh bo ke_^m_l gZijhlb\hlg_klbd jZaebqgufnmgdpbhgZevgufkn_jZfJ_r_gb_\hijhkZh lhfkihkh[_geb q_eh\_d gZ [uklju_ beb ebrv gZ f_^e_ggu_ ikbobq_kdb_ j_Zdpbb hlghkblky d ]hjZa^h [he__ \ukhdhcikbobq_kdhckn_j_q_f\hijhkZih^^Z_lkyeb^Zggh_ebphk\hbf\e_q_gbyfbebg_l H^gZdh ba\_klgZy hklhjh`ghklv Zdp_glmbjh\Zgghc ebqghklb \ ijbgylbb j_r_gby fh`_l kdZaZlvky b \ lhjfh`_gbb l_o ^_ckl\bc gZ dhlhju_ lhedZ_l \e_q_gb_ q_eh\_d k lZdbf khq_lZgb_f Zdp_glmZpbc hlebqZ_lky [hevrbf kZfhh[eZ^Zgb_f kZfhdhgljhe_f GZ[ex^_gby k^_eZggu_ \ gZr_f ikbohl_jZi_\lbq_kdhf hl^_e_gbb ih^l\_j`^Zxl lZdh_ ij_^iheh`_gb_ < ^jm]bokemqZyoq_jlulh]hb ^jm]h]hoZjZdl_jZkhkms_kl\mxlg_\aZbfh^_ckl\my< j_amevlZl_ \ g_dhlhjuokemqZyoq_jluh^gh]hoZjZdl_jZZdlb\babjmxlkyZ ^jm]h]h²\hh[s_gbq_fk_[y g_ ijhy\eyxl Hkh[_ggh qZklh wlhl jZah[s_gguc lbi j_Zdpbb \klj_qZ_lky m ih^jhkldh\ l _ lh]^Z dh]^Z ZgZgdZklbq_kdZy kdjmime_aghklv g_ mki_eZ _s_ jZkijhkljZgblv k\h_ ^_ckl\b_ gZ kn_jmbgklbgdlh\ NhevdfZjW]jh`^ihijhn_kkbbf_oZgbdIhkeh\Zfjh^guohgg_mgZke_^h\Ze ^h[jhkh\_klghklbk\h_]hhlpZHl_p[ueq_eh\_dhfk\_joZddmjZlguf©g_mkihdhblkyihdZg_ gZeZ^bl \k_ dZd ih kljmgd_ª W \ rdhe_ \u^_eyeky e_gvx mjhdh\ ihqlb kh\k_f g_ ]hlh\be QZklhg_ghq_\Ze^hfZbgh]^Z_]hjZaukdb\ZebGZdZaZgbyg_ihfh]ZebW[ueg_ZddmjZl_gb k ebqgufb \_sZfb < ^jm]bo hlghr_gbyo ijhkdZevau\ZeZ h^gZdh i_^Zglbqghklv W ke_^be aZ lsZl_evghc m[hjdhc k\h_c dhfgZlu i_j_ijh\_jye ohjhrh eb aZi_j moh^y ^\_jv d\Zjlbju ©G_fh]mbgZq_²f_gykh\_klvaZfmqblª²lZdhgh[tykgyewlmijb\uqdmKhk\_jklgbdZfbW ihklhyggh aZ^bjZeky ijb wlhf qZklh ijboh^be \ yjhklv ^jh`Ze \k_f l_ehf gZghkbe m^Zju ijhlb\gbdm < lZdbo kemqZyo W fh] ihl_jy\ kZfhh[eZ^Zgb_ ihklmiZlv kh\_jr_ggh [_ajZkkm^gh hg gZiZ^Ze gZijbf_j gZ j_[yl klZjr_ b kbevg__ k_[y \ ^jZd_ k dhlhjufb _]h ihjZ`_gb_ [ueh g_ba[_`gh Ihwlhfm _]h kZfh]h g_j_^dh ba[b\Zeb Dh]^Z W bkihegbehkv e_lm g_]hihy\bebkvgZ\yaqb\u_b^_bLZdgZijbf_j_kebijb[eb`ZekyljZf\Zcbebih_a^W klZ\be i_j_^ kh[hc aZ^Zgb_ ² mki_lv i_j_[_`Zlv q_j_a j_evku beb `_ _fm dZaZehkv qlh kiZklbkv hl dZdhclh ydh[u ]jhays_c _fm hiZkghklb hg fh`_l lhevdh ijhqblZ\ dZdh_gb[m^v h[ty\e_gb_\bkys__ih[ebahklbKlhygZ[Zrg_gZ[hevrhc\ukhl_Wij_^klZ\eyek_[_dZd kiju]gm\kh[v_ldh]hlh\gbamBgh]^Zhg\^jm]hsmsZeg_h^hebfh_`_eZgb_^Zlvihs_qbgm ihklhjhgg_fm q_eh\_dm : lh W lZd b ih^fu \Zeh \kdhqblv gZ jZ^bZlhj fqZs_cky gZ\klj_qm fZrbgu beb _fm dZaZehkv qlhhg^he`_g ©^h[_`Zlv ^h nhgZjy ij_`^_ q_f fZrbgZ kh fghc ihjZ\gy_lkyebrvlh]^Z\k_[m^_lohjhrhªb l^K e_lW gZqZedjZklv< rdhe_hgg_j_^dh ijbk\Zb\Ze \k_\hafh`gu_ f_ehqb dhlhju_ fh]eb ijb]h^blvky ©\ jZ[hl_ª hg ex[be fZkl_jblv H^gZ`^u \ehfbeky k lh\Zjbs_f \ d\Zjlbjm agZdhfuo mg_k jZ^bhijb_fgbd < ihke_^mxsb_]h^udhebq_kl\hdjZ`\k_\hajZklZehgh\ e_lhg\^jm]ij_djZlbe\hjh\kl\h< e_l W klZe khpbZevgh mjZ\gh\_r_gguf q_eh\_dhf JZ[hlZe gZ ijhba\h^kl\_ f_oZgbdhf \iheg_ ^h[jhkh\_klgh ohly ihij_`g_fm hlebqZeky \ha[m^bfhklvx Ijb h[ke_^h\Zgbb W ih^l\_j^beqlhhgb k_cqZkk ljm^hfk^_j`b\Z_lky_kebqlhgb[m^v\u\_^_l_]hbak_[yGh\k_ `_wdkp_kkh\[hevr_g_[uehG_aZf_qZem`_b gZ\yaqb\uob^_c<f_klhwlh]hm g_]hjZa\bebkv q_jlu i_^Zglbq_kdhc ebqghklb ± ihklhyggh ² b ^hfZ b gZ ijhba\h^kl\_ ² hg l_i_jv ijh\_jy_lohjhrheb\uihegbelhbebbgh_^_eh ;m^mqbih^jhkldhfWhlg_k_ggucgZfbd ZgZgdZklZfgZqZedjZklv< wlhfaZdexqZ_lky g_h[uqghklv^Zggh]hkemqZyihkdhevdmba\_klghqlhg_ihjy^hqgu_ihklmidbg_kh\f_klbfuk ^h[jhkh\_klghklvx i_^Zglbq_kdhc ebqghklb H^gZdh bfimevkb\gu_ j_Zdpbb W \hagbdZxsb_ gZ ihq\_ \g_rgbo kh[eZagh\ b jZa^jZ`bl_e_c khhl\_lkl\mxl ih\_^_gbx wibe_ilhb^ghc ebqghklb Wlb j_Zdpbb fh]ml [ulv hlg_k_gu dh \lhjhfm ©gZ[hjmª q_jl oZjZdl_jZ W dZd \ha[m^bfhcebqghklbBlZdh[_l_g^_gpbb©m`b\Zxlkyª\ ebqghklbxghrbg_aZ\bkbfh^jm]hl ^jm]Z _keb W klZedb\Z_lky k q_flh qlh _]h \e_q_l hg ² dZd ebqghklv \ha[m^bfZy g_ kihkh[gZy\eZ^_lvkh[hc²[_am^_j`ghih^^Z_lkykh[eZagm_keb`_\ Znn_dlb\ghfieZg_hg gZoh^blky\ khklhygbbihdhybfaZ\eZ^_\Zxlq_jlugZ\yaqb\hklbk\hckl\_ggu_ZgZgdZklZfB ebrv ih f_j_ khaj_\Zgby ebqghklb m lZdbo ex^_c gZklmiZ_l k[ZeZgkbjh\Zgghklv ikbobdb IjZ\^Z k \hajZklhf W \k_ _s_ e_]dh\ha[m^bfuc gZmqbeky \iheg_ \eZ^_lv kh[hc K ^jm]hc klhjhgu _]h i_^Zglbqghklv m`_ g_ \_^_l d gZ\yaqb\uf ij_^klZ\e_gbyf __ ijhy\e_gby h]jZgbqb\Zxlky fgh]hdjZlguf kZfhdhgljhe_f gZ jZ[hl_ b \ [ulm < dhg_qghf kq_l_ W klZe \_kvfZ ihoh`bf gZ k\h_]h k\_joZddmjZlgh]h hlpZ qlh \gZqZe_ dZaZehkv fZeh\_jhylguf Ijhy\e_gb_ZgZgdZklbq_kdboq_jlebqghklbW\ ]h^uhljhq_kl\Z\ \b^_lbibqguogZ\yaqb\uo ij_^klZ\e_gbc fh`gh h[tykgblv l_f qlh \ wlhf i_jbh^_ ijhbkoh^bl i_j_kljhcdZ ebqghklb i_j_oh^ hl wdkljZ\_jlbjh\Zgghklb d bgljh\_jlbjh\Zgghklb GZ\yaqb\u_ ij_^klZ\e_gby \ i_jbh^hljhq_kl\ZdZdba\_klghg_klhevm`j_^dbBgh]^Zb m\ajhkeuoq_jluk\hckl\_ggu_ \ha[m^bfhfm b i_^Zglbqghfm oZjZdl_jm kms_kl\mxl iZjZee_evgh Z[khexlgh g_ \aZbfh^_ckl\my NjZgpN]jh`^ihijhn_kkbbjZ[hqbcobfbq_kdhcijhfure_gghklb?]hhl_p² q_eh\_d\_kvfZi_^Zglbqgucgh\ fheh^hklbfgh]hibeHl_p\ k\h_\j_fyg_sZ^gh[be^_l_cb k_cqZkkihkh[_ggZ\_kvfZbfimevkb\gu_j_Zdpbb\ ijbiZ^d_yjhklbhj_lN\ rdhe_mqbeky ohjhrhghmq_[Z_fm^Z\ZeZkvg_e_]dhHdhgqbedeZkkh\ < \hajZkl_ e_l \ ihju\_ ]g_\Z dZdlh [_`Ze ba ^hfm gh \kdhj_ \_jgmeky Dh]^Z N mqbeky gZ fZkl_jZ hg g_j_^dh m[_]Ze k jZ[hlu ijbq_f ih imklydh\uf ih\h^Zf H^gZdh lbibqgu_ ijbiZ^db yjhklb gZ[ex^Zebkv j_^dh \ khklhygbb jZa^jZ`_gby bf g_ lhevdh h\eZ^_\Ze]g_\ghhgqm\kl\h\Zeb kbevgmxm]g_l_gghklv< wlh\j_fyhgij_^ihqblZe[_]kl\h hlex^_c< ^\Z^pZlbe_lg_f\hajZkl_N khojZgbeijb\uqdmihijhklmmoh^blvbebm_a`Zlv_keb qlheb[h_]h©^h\h^behªH^gZ`^uhghlkml\h\Ze^hfZg_kdhevdh^g_c_]hjh^bl_eb\f_kl_k dhlhjufbhg`behq_gv[_kihdhbebkvHdZaZehkvqlhhgghq_\Ze\ dZdhflhd_fibg]_Dh]^ZN g_gZoh^blky\ khklhygbb\ha[m`^_gby_]hkqblZxlohjhrbfjZ[hlgbdhfGZijhba\h^kl\_hg [u\Z_l ^Z`_ q_j_kqmj ^h[jhkh\_kl_g Hlpm ihjhc ijboh^blky ^Z`_ m[_`^Zlv _]h qlh b \ klZjZgbb g_ gm`gh ©i_j_]b[Zlv iZedmª Baex[e_ggh_ aZgylb_ N ² dhgljhebjh\Zlv \k_ eb \ ^hf_ \ ihjy^d_ ohjhrh eb aZi_jlZ ^\_jv \udexq_g eb ]Za < h[s_kl\_ hg qZklh [u\Z_l aZlhjfh`_g\k_]^Z[hblkyqlhkdZ`_lqlhgb[m^vg_\ihiZ^< e_lN gZqZeiblvZ \e_l ihklmibed gZf\ debgbdm^eyijhoh`^_gbydmjkZijhlb\hZedh]hevgh]he_q_gbym g_]hwlh[ue m`_ lj_lbc dmjk DZ`^uc jZa hg ijbklmiZe d e_q_gbx k kZfufb [eZ]bfb gZf_j_gbyfb N hlebqgh hl^Z\Ze k_[_ hlq_l \ lhf dZd _fm \j_^_g Zedh]hev gh ihke_ djZldh]h i_jbh^Z \ha^_j`Zgby kgh\Z gZqbgZe iblv fhlb\bjmy wlh l_f qlh qZklh \iZ^Z_l \ i_kkbfbklbq_kdh_ gZkljh_gb_ jZ^hklb gbdZdhc gb \ q_f g_ \b^bl b lyg_lky d \h^d_ g_ ^mfZy h ihke_^kl\byo Ihke_ihke_^g_]hdmjkZe_q_gbyN^he]hhklZ\Zekyih^Zf[meZlhjgufgZ[ex^_gb_fKh]eZkgh bf_xsbfkym gZkk\_^_gbyfj_pb^b\m g_]hg_gZklmibe Kj_^b Zedh]hebdh\ ZgZgdZklu \hh[s_ g_ \klj_qZxlky :gZgdZklu gZklhevdh k_jv_agh hlghkylkyd k_[_b k\hbfh[yaZgghklyfqlhjZkp_gb\ZxlZedh]hevdZdg_ihkj_^kl\_ggmxm]jham ^_em b ebqghfm [eZ]hihemqbx Ihwlhfm hgb hl\_j]Zxl kibjlgh_ ^Z`_ \ mf_j_gguo dhebq_kl\Zo g_ ]h\hjy m`_ h[ baebr_kl\Zo ?keb N g_kfhljy gZ q_jlu i_^Zglbqghklb \ oZjZdl_j_ \k_ `_ klZe ojhgbq_kdbf Zedh]hebdhf lh wlh g_khfg_ggh k\yaZgh kh \lhjuf dhfihg_glhf_]hebqghklbK fZeuoe_lN[uekdehg_gd bfimevkb\gufihklmidZfih[_]bba ^hfm djhf_ lh]h [ue \k_]^Z qj_a\uqZcgh jZa^jZ`bl_e_g DZd ebqghklv \ha[m^bfZy N dhg_qgh e_]dh fh] klZlv ojhgbq_kdbf Zedh]hebdhf gh ZgZgdZklbq_kdb_ q_jlu oZjZdl_jZ ^he`gu [ueb aZsblblv _]h hl ^Zgghc hiZkghklb ihlhfm qlh lZdb_ ihgylby dZd ZgZgdZkl b Zedh]hebd g_kh\f_klbfu ^Z`_ \ l_o kemqZyo dh]^Z ZgZgdZklbq_kdb_ q_jlu dhf[bgbjmxlky k ^jm]bfb q_jlZfb oZjZdl_jZ <hafh`gh bf_ggh ihwlhfm N g_ \ujZ[hlZe \ k_[_ gm`ghc kZfh^bkpbiebgubebebrvk ]h^Zfbh[j_e__b gZjy^mk jZa^jZ`bl_evghklvx[uekdehg_gd ^_ij_kkb\guf khklhygbyf Ih^Z\e_gghklv _s_ \ [hevr_c kl_i_gb q_f jZa^jZ`_gb_ lj_[m_l ©ih^^_j`dbª Zedh]he_f \_^v jZa^jZ`_gb_ fh`_l gZclb jZajy^dm b \ ^jm]hf >_ij_kkb\gu_ q_jlu ijbf_rb\Zebkv d ^mjghfm gZkljh_gbx N m`_ \ ^_lkl\_ \f_klh lh]h qlh[u ©i_j_[_kblvkyª hg moh^bl ba ^hfm bs_l \hafh`ghklb kdjulvky K wlhc q_jlhc fu g_j_^dh \klj_qZebkvm [hevguowibe_ilhb^ghcikbohiZlb_cm dhlhjuoj_ZdpbbgZg_ijbylgu_kh[ulby fh]ml \ueblvky dZd \ iZjhdkbafu yjhklb lZd b \ ]em[hdmx ^_ij_kkbx Ih`Zemc \ wlhf b ke_^m_lbkdZlvh[tykg_gb_lh]hihq_fmm ^Zggh]h[hevgh]h^Z`_lh]^Zdh]^Zhljhq_kl\h^Z\gh fbgh\Zehh[_q_jluoZjZdl_jZg_\klmibeb\h\aZbfh^_ckl\b_²N\k_]^Zj_Z]bjh\ZelhdZd qbklh\ha[m^bfZylhdZdqbklhi_^Zglbq_kdZyebqghklv :dp_glmbjh\Zggu_q_jlul_fi_jZf_glZ =bi_jlbfbq_kdb_ebqghklb =bi_jlbfbq_kdbc l_fi_jZf_gl j_adZy kl_i_gv ijhy\e_gby dhlhjh]h ghkbl gZa\Zgb_ ]bihfZgbZdZevgh]h khklhygby ohjhrh ba\_kl_g \ ikbobZljbb DZd b ijb fZgbyo ijZ\^Z \ g_kdhevdh kfy]q_gghc nhjf_ ijbih^gylh_ gZkljh_gb_ khq_lZ_lky ijb wlhf k `Z`^hc ^_yl_evghklbih\ur_gghckeh\hhohleb\hklvxb kl_g^_gpb_cihklhygghhldehgylvkyhll_fu jZa]h\hjZ qlh bgh]^Z ijb\h^bl d kdZqd_ fuke_c =bi_jlbfbq_kdZy Zdp_glmZpby ebqghklb g_ \k_]^Z qj_\ZlZ hljbpZl_evgufb ihke_^kl\byfb hgZ fh`_l [eZ]hl\hjgh \ebylv gZ \_kv mdeZ^ `bagbq_eh\_dZ=bi_jlbfbq_kdb_gZlmju\k_]^ZkfhljylgZ`bagvhilbfbklbq_kdb[_ahkh[h]h ljm^Zij_h^he_\Zxl]jmklv\hh[s_bfg_ljm^gh`b\_lkygZk\_l_;eZ]h^Zjymkbe_gghc`Z`^_ ^_yl_evghklb hgb ^hklb]Zxl ijhba\h^kl\_gguo b l\hjq_kdbo mki_oh\ @Z`^Z ^_yl_evghklb klbfmebjm_l m gbo bgbpbZlb\m ihklhyggh lhedZ_l gZ ihbkd gh\h]h Hldehg_gb_ hl ]eZ\ghc fukeb ihjh`^Z_l fgh`_kl\h g_h`b^Zgguo ZkkhpbZpbc b^_c qlh lZd`_ [eZ]hijbylkl\m_l Zdlb\ghfm l\hjq_kdhfm fure_gbx < h[s_kl\_ ]bi_jlbfbq_kdb_ ebqghklb y\eyxlky [e_klysbfb kh[_k_^gbdZfb ihklhyggh gZoh^ylky \ p_glj_ \gbfZgby \k_o jZa\e_dZxl Hgb kihkh[gu ]h\hjblv b jZkkdZau\Zlv [_a dhgpZ lhevdh [u bo kemrZeb LZdb_ ex^b g_ fh]ml gZkdmqblv k gbfb bgl_j_kgh hgb i_j_kuiZxl k\hx j_qv ijb[ZmldZfb hkljhlZfb b gbdh]^Z ^he]h g_ aZ^_j`b\Zxlky gZ h^ghc l_f_ H^gZdh _keb ^Zgguc l_fi_jZf_gl \ujZ`_g kebrdhf yjdh iheh`bl_evguc ijh]gha kgbfZ_lky ;_ah[eZqgZy \_k_ehklv qj_af_jgZy `b\hklv lZyl \ k_[_ hiZkghklv b[h lZdb_ ex^b rmly ijhoh^yl fbfh kh[ulbc d dhlhjuf ke_^h\Zeh [u hlg_klbkvk_jv_aghM gboihklhygghgZ[ex^ZxlkygZjmr_gbywlbq_kdboghjfihkdhevdmhgb\ hij_^_e_ggu_ fhf_glu dZd [u mljZqb\Zxl b qm\kl\h ^he]Z b kihkh[ghklv d jZkdZygbx Yjdh \ujZ`_gguc ]bihfZgbZd e_]dhfuke_ggh klZ\bl gZ dZjlm k\hc Z\lhjbl_l g_j_^dh jbkdm_l ihl_jylv bfms_kl\h imkdZykv \ khfgbl_evgu_ ij_^ijbylby Qj_af_jgZy `Z`^Z ^_yl_evghklb ij_\jZsZ_lky \ [_kieh^gh_ jZa[jZku\Zgb_ q_eh\_d aZ fgh]h_ [_j_lky b gbq_]h g_ ^h\h^bl ^h dhgpZ;h]Zlkl\hb^_c\ ih^h[guokemqZyoij_\jZsZ_lky\ imklh_ijh`_dl_jkl\hQj_af_jgZy \_k_ehklv fh`_l i_j_oh^blv \ jZa^jZ`bl_evghklv ?keb lZdb_ i_j_oh^u j_adh \ujZ`_gu b gZ[ex^ZxlkyqZklhwlhgZ\h^blgZfukevh iZjZghcyevghfdhfihg_gl_h q_fj_qv[m^_lgb`_ >hey ikbobq_kdhc \h\e_q_gghklb ]bi_jlbfbq_kdh]h l_fi_jZf_glZ \ h[eZklv fuke_c qm\kl\ b \he_\uo ijhy\e_gbc g_ \k_]^Z h^bgZdh\Z Bgh]^Z \ q_eh\_d_ ij_`^_ \k_]h [jhkZ_lky \ ]eZaZ [_ki_qgZy \_k_ehklv bgh]^Z hgZ hlklmiZ_l i_j_^[_am^_j`ghcjZa]h\hjqb\hklvx \ g_dhlhjuo kemqZyofure_gb_gbgZq_fg_aZ^_j`b\Zykvi_j_kdZdb\Z_lk h^ghcb^_bgZ^jm]mxH^gZdh \k_]^Z \ [hevr_c beb f_gvr_c kl_i_gb gZ[ex^Zxlky \k_ ljb ijbagZdZ h^gh\j_f_ggh ij_^klZ\eyy_^bgkl\hih^h[ghlhfmdZdwlh[u\Z_lijbfZgbbBgh]^Zm^Z_lkyijyfh^hdZaZlv qlh ]bi_jlbfbq_kdbc l_fi_jZf_gl ij_^klZ\ey_l kh[hc g_ qlh bgh_ dZd g_dh_ ©jZa[Z\e_gb_ª fZgbb Bgh]^Z \ujZ`_ggZy fZgby fh`_l h[gZjm`blvky eb[h m kZfh]h h[ke_^m_fh]h eb[h m h^gh]h ba _]h jh^kl\_ggbdh\ < p_ehf ]bi_jlbfbq_kdbc l_fi_jZf_gl hlgx^v g_ h[yaZl_evgh k\yaZg k fZgb_c Ijb kjZ\gbl_evgh e_]dbo ijhy\e_gbyo hg ij_^klZ\ey_l kh[hc ghjfZevguc \ZjbZgl Zdp_glmZpbb q_eh\_q_kdhc ebqghklb Ijb\_^m hibkZgb_ ^\mo h[ke_^m_fuo k^_eZggh_ Mg]_j \ gZr_f dhee_dlb\ghf ljm^_ M i_j\hc h[ke_^m_fhc ih\ur_ggZy Zdlb\ghklv h[mkeh\e_ggZy]bi_jlbfbq_kdbfl_fi_jZf_glhfkdZaZeZkvgZl_q_gbb__`bagbiheh`bl_evgh WebaZ[_l G ] jh`^ Hl_p \_kvfZ dhglZdl_g ihimeyj_g \ h[s_kl\_ Hg aZgbfZe \ukhdbckem`_[gucihklh[eZ^Zeij_djZkguf]hehkhfqZklhi_eG_l_ji_eg_kijZ\_^eb\h]h hlghr_gbyd ex^yfFZlvbak_fvbk_dlZglh\hq_gvj_eb]bhagZIhke_kf_jlbfm`ZhldZaZeZkv hl[jZdZk ex[bfufq_eh\_dhflZddZdhg[ue^jm]h]h\_jhbkih\_^ZgbyHlebqZeZkvdZdb fm` xfhjhfex[beZi_lvK_kljZGlZd`_bkdexqbl_evgh`b\Zyb wg_j]bqgZy^_\mrdZIhkeh\Zf Gk_kljm\k_©[_amfghªex[ylb `Z`^mlihiZklvd g_cgZ\_q_jbgdb]^_[u\Z_lgZj_^dhklv \_k_eh H k_[_ G ]h\hjbl qlh __ \hkiblZgb_ ijhlb\hj_qbeh __ ijbjh^ghfm kdeZ^m HgZ [ueZ [hcdhc `bag_jZ^hklghc ^_\hqdhc gh h[mqZykv \ fhgZklujkdhc rdhe_ klZeZ j_eb]bhaghc nZgZlbqdhc \ijhq_f _s_ [m^mqb ih^jhkldhf G bgl_j_kh\ZeZkv nbehkhnb_c j_eb]bb <k_ ]h^u ijhmqbeZkv ^h[jhkh\_klgh hdhgqbeZ rdhem k hlebqb_f ihemqbeZ ^biehf mqbl_evgbpu gZqZevghcrdheu<kdhj_ihklmibeZgZnbehkhnkdhl_heh]bq_kdbcnZdmevl_la^_kvlZd`_[ueZ ohjhr_cklm^_gldhcH^gh\j_f_gghmki_rghjZ[hlZeZmqbl_evgbp_cex[beZ^_l_cIhke_^g__ h[klhyl_evkl\hhljZabehkvb gZ\u[hj_fm`ZhgZ\ureZaZfm`aZ\^h\pZ`_gZdhlhjh]hmf_jeZ \h\j_fyjh^h\ G l\_j^hj_rbeZ aZf_gblv feZ^_gpm fZlv Ijb^y d aZdexq_gbx qlh fm` __ fmaudh\_^ ² \u^Zxsbcky lZeZgl hgZ \ayeZkv ijhiZ]Zg^bjh\Zlv _]h fmaudZevgu_ l_hjbb gZeZ`b\Zy ih\k_f_klgh g_h[oh^bfu_ dhglZdlu < lj_o mgb\_jkbl_lZo ^h[beZkv dmjkZ e_dpbc ^ey fm`Z lbibqgh]h mq_gh]h g_ mf_xs_]h ihklhylv aZ k_[y G kh\_jrZeZ [_kdhg_qgu_ ih_a^db\h\j_fydhlhjuoagZdhfbeZkvk jZaebqgufbfmaudh\_^Zfbh[tykgyybfl_hjbbfm`Z Ihke_ \hcgu hgZ \_eZ i_j_]h\hju k Zg]ebckdbfb hddmiZpbhggufb \hckdZfb ^h[beZkv \u^_e_gby kmffu \ fZjhd gZ jZkoh^u ih bkke_^h\Zl_evkdhc jZ[hl_ \ h[eZklb l_hjbb fmaudb G gZeZ^beZ k\yab k ba\_klgufb fmaudZevgufb djblbdZfb hj]Zgbah\u\Zy bo hlau\u gZjZ[hlufm`Zim[ebdZpbb\ ij_kk_G^h[beZkv^Z`_lh]hqlhba\_klgucnbabd=_ca_g[_j] ih^l\_j^beijZ\bevghklvfZl_fZlbq_kdbonhjfme\ l_hj_lbq_kdbojZ[hlZo__ fm`ZKZfkmijm] hq_gv \_jgh hoZjZdl_jbah\Ze k\hx `_gm ©G_ fh]m ij_^klZ\blv k_[_ gb h^gh]h q_eh\_dZ gb h^gh]h mqj_`^_gby dhlhju_ g_ dZiblmebjh\Zeb [u i_j_^ lh[hcª GZeZ`b\Zy h[rbjgu_ dhglZdlu\ h[eZklbfmaudbGihagZdhfbeZkvkhfgh`_kl\hfbgl_j_kguoex^_ck g_dhlhjufb ba gbo ^jm`[Z ijh^he`Z_lky b ih k_c ^_gv >jm`_kdb_ hlghr_gby gZeZ^bebkv m G k h^gbf ibkZl_e_f^eydhlhjh]h[_k_^uk g_x[ueb\Z`gufklbfmehf\ _]hl\hjq_kdhcjZ[hl_Hg^Z`_ ]h\hjbe_c©Fhbijhba\_^_gby²l\hbijhba\_^_gby\_^vbfimevkud gbfbkoh^ylhll_[yª G ]h\hjbeZ gZf qlh ^jm`[Z m g__ aZ\yau\Z_lky ij_ bfms_kl\_ggh k ex^vfb dhlhjuo gZ^h ©Zdlb\babjh\ZlvªaZdhlhjuogm`ghijbgbfZlvj_r_gbywlboex^_chgZaZjZ`Z_lhilbfbafhf b ih^^_j`b\Z_l \ gbo fm`_kl\h Fu ihagZdhfbebkv k G q_j_a __ iZkugdZ d dhlhjhfm hgZ hlghkbeZkv dZd d kugm ihklmib\r_]h d gZf \ klZpbhgZj ih ih\h^m rbahnj_gbb < \hijhkZo e_q_gby kugZ G ijhy\eyeZ lZdmx `_ gZihjbklhklv dZd b ijb ijhiZ]Zg^_ bkdmkkl\h\_^q_kdbo l_hjbc fm`Z HgZ bamqbeZ [hevrh_ dhebq_kl\h ki_pbZevguo jZ[hl ih ikbobZljbb kh[jZeZ h[rbjgmxbgnhjfZpbxh[h\k_odh]^Zeb[hij_^eZ]Z\rbokykihkh[Zoe_q_gbyrbahnj_gbbb ij_^eZ]ZeZboe_qZsbf\jZqZfkugZGbkoh^beZbalh]hqlh_s_g_\k_\hafh`ghklbl_jZibb bkq_jiZguKd_ilbq_kdh_hlghr_gb_\jZq_c__ g_kfmsZeh<kydbcgh\ucf_lh^aZy\eyeZhgZ kgZqZeZ ijbgbfZxl \ rludb gh \ dhg_qghf blh]_ dlhlh \k_ `_ ^_jaZ_l b \\h^bl _]h G ^h[jZeZkv ^h ba\_klgh]h ijhn_kkhjZ \ ;m^Zi_rl_ b ^h[beZkv ba i_j\uo jmd k\_^_gbc h gh\_crbo ^Zgguo ih e_q_gbx rbahnj_gbb <h \j_fy gZrbo fgh]hqbke_gguo [_k_^ G [ueZ kebrdhffgh]hkeh\gZhohlghi_j_oh^beZgZebqgu_l_fug_k\yaZggu_k kughf]h\hjbeZh[h \k_fhkljhmfghk fZkkhcbjhgbq_kdboaZf_qZgbc?keb`_fuijhkbeb__ khkj_^hlhqblvkygZ dZdhceb[h h^ghc l_f_ hgZ ]h\hjbeZ djZldh b dhgdj_lgh GZkljh_gb_ m G \k_]^Z [ueh ijbih^gylh_hgZhohlghi_j_\h^beZjZa]h\hjgZ\_k_eu_l_fukZfZijbwlhfhl^mrbohohlZeZ b ijhkbeZ ijb]eZrZlv __ ihqZs_ qlh[u \u]h\hjblvky b ihkf_ylvky JZkkdZau G \k_]^Z khijh\h`^ZeZ h`b\e_gghc fbfbdhc b `_klbdmeypb_c K\hx `bagv G klj_fbeZkv kljhblv ih ijbgpbim©I_j_`blvdZdfh`gh[hevr_²\ wlhf[h]Zlkl\h`bagbªKimklyg_dhlhjh_\j_fy kugGmf_jhkljucbgnZjdlfbhdZj^ZKf_jlvkugZ[ueZ^eyg__[hevrbf]hj_fG_kfhljy gZk\hc]bi_jlbfbq_kdbcl_fi_jZf_glG[ueZ]em[hdhihljyk_gZHgZ\k_^hiulu\ZeZkvm gZk g_[ueheb\ q_fmims_gbykljZ^Zeebhgi_j_^dhgqbghc I_j_^ gZfb `_gsbgZ dhlhjZy m`_ \ ^_lkl\_ ijhy\eyeZ bkdexqbl_evgmx Zdlb\ghklv k^_eZeZ fgh]h ^h[jZ fm`m b ^jmavyf ;eZ]h^Zjy k\h_c g_mlhfbfhc wg_j]bb hgZ mf_eZ klZlv l\_j^hchihjhc\ `bagbkeZ[uoex^_cHgZ]hjyqhaZ[hlbeZkvb hkug_^hkZfhc_]hkf_jlbg_ l_jyeZgZ^_`^ugZbae_q_gb__]hly`_eh]hg_^m]Z@b\hklvkeh\hhohleb\hklv`bag_jZ^hklguc gjZ\ebrvkf_jlvkugZih]jmabeZG\ khklhygb_]em[hdh]hm]g_l_gbylZd`_k\b^_l_evkl\mxl h lhf qlh ebqghklv WebaZ[_l G ² lbibqgh ]bi_jlbfbq_kdZy <lhjZy h[ke_^m_fZy h[eZ^Z_l l_fb `_ hkh[_gghklyfb l_fi_jZf_glZ qlh b G h^gZdh hgb ^hklb]Zxl m g__ kl_i_gb ]bihfZgbZdZevghcikbohiZlbbHljbpZl_evgu_ijhy\e_gbym g__j_adhij_h[eZ^Zxl :ggZ<]jh`^Hl_p[ue\_k_euf`bag_jZ^hklgufgZoh^qb\ufq_eh\_dhfex[be \uiblv\k_]^Zmf_e[ulv^mrhch[s_kl\ZFgh]hjZ[hlZeihklhyggh[jZejZagu_ijbjZ[hldb FZlv \ xghklb ex[beZ i_lv lZgp_\Zlv gh hgZ g_ h[eZ^ZeZ kihkh[ghklvx k_ylv \hdjm] k_[y \_k_ev_d lhfm`_[ueZh[b^qb\Z>_^mrdZ<ihhlpmlh`_hlebqZeky`bag_jZ^hklghklvx[ue aZy^euf jZkkdZaqbdhf keue hkljydhf ihevah\Zeky \k_h[s_c ex[h\vx \ jZ[hq_f dhee_dlb\_ K_kljZ fZl_jb [ueZ `_gsbghc \_k_ehc hq_gv kf_reb\hc \ h[s_kl\h \k_]^Z \ghkbeZ `b\mx kljmx<ihreZ\ rdhem\ e_l\ k\yabk jZoblhfmqbeZkvohjhrhIhke_hdhgqZgbyrdheu jZ[hlZeZ gZ dmog_ h^gh]h ljZdlbjZ ihfh]ZeZ `_g_ \eZ^_evpZ h[kem`b\Zlv ]hkl_c AZ ex[mx jZ[hlm [jZeZkv hohlgh b m\_j_ggh gh jZ[hlZ gZ nZ[jbd_ kgZqZeZ iZibjhkghc aZl_f ih ba]hlh\e_gbx f_rdh\ m g__ g_ kihjbeZkv < h[tykgy_l wlh lZd ©Fg_ gm`gZ jZ[hlZ kZfhklhyl_evgZy y ex[ex jZ[hlZlv ih h[kem`b\Zgbx ex^_cª IulZeZkv mkljhblvky ^hfjZ[hlgbp_ckgh\ZjZ[hlZlv\ ljZdlbjZogh\k_wlh[uehg_ihg_c^he]hgZwlbof_klZohgZ g_fh]eZ\u^_j`Zlv B \hl gZdhg_p < gZreZ ih^oh^ys__ ihe_ ^_yl_evghklb HgZ ijbh[j_lZ_l iZl_gl gZ ©lhj]h\exjZagh]hjh^Zlh\ZjZfbªWlhliZl_glg_k\yau\Ze__ khki_pbZebaZpb_clh\Zjh\b < lhj]h\ZeZ lh\ZjZfb \_kvfZ jZaghh[jZagh]h Zkkhjlbf_glZ H^gh \j_fy ijh^Z\ZeZ fhjh`_gh_ ijbkljhb\rbkv f_`^m lhj]h\pZfb ih^ly`_d b jZdh\ Dh]^Z __ dhee_]b moh^beb ©ijhimklblv jxfhqdmªhgZg_lhevdhke_^beZaZbolh\Zjhfghb mki_rghj_deZfbjh\ZeZ_]h©LZdZym`m f_gygZlmjZ y ² `_gsbgZ fgh]hklhjhggyyª Lhj]h\ZeZj_^vdhc ©^eyivyguo b ihemivyguoª AZl_fhgZhj]Zgbah\ZeZb]jm\ dhklb\h\j_fydhlhjhc[hcdhlhj]h\ZeZm]jyfb©Q_f[hevr_ hqdh\²l_flhes_m]hjvªG_dhlhjh_\j_fyoh^beZk gZ]jm^gufehldhflhj]h\ZeZ\ j_klhjZg_ ² dhgn_lZfb i_q_gv_f dhgnblxjhf GZqZevgbd kqblZe __ kZfhc [h_\hc ijh^Z\sbp_c Lhj]h\ZeZ hgZ b p\_lZfb gZ lZgpiehsZ^dZo P_gZ aZ [md_lbd [ueZ klZg^ZjlgZy ² fZjdb ©<k_jZ\gh\uoh^behihfZjdb²g_ihlj_[m_l`_ijbebqgucfm`qbgZin_ggb]h\k^Zqbª Fm`qbgZf gZ lZgpiehsZ^d_ hohlgh jZa^Z\ZeZ kh\_lu ² k d_f ba ^_\mr_d klhbl Z k d_f g_ klhbl©k\yau\Zlvky\k_jv_aªRmldb[ueb__ ih^ebgghcklbob_caZrmldbb \_k_eucgjZ\hgZ \k_]^ZihemqZeZfgh]hqZ_\uoL_fg_f_g__<\_eZgZklhysmxljm^h\mx`bagvm`_\ q fbghgZijboh^beZgZjughdqlh[uhilhfaZdmiblvp\_luaZl_fp_euc^_gv\yaZeZ[md_lbdb Q_j_a g_dhlhjh_ \j_fy < klZeZ lhj]h\Zlv ]Za_lZfb kgZqZeZ \ j_klhjZgZo ©lZf [hevr_ ^Zxl qZ_\uoªaZl_fgZp_gljZevghf\hdaZe_]^___ \kdhj_\k_m`_ohjhrhagZebhgZg_fh]eZg_ ijb\e_qv\gbfZgbyk\hbfbhkljhmfgufb\udjbdZfbh gh\hklyo^gyb gZoh^qb\ufbhl\_lZfb <_q_jhf ih hdhgqZgbb jZ[hq_]h ^gy \hdjm] g__ kh[bjZebkv kem`Zsb_ a^_kv \k_]^Z klhye ohohl hkljhlu l_deb g_kfhedZ_fuf ihlhdhf Ex^b kf_ykv `Zeh\Zebkv qlh baaZ g__ ©ijhimkdZxlihke_^gbcih_a^ª<klZeZk\h_]hjh^ZagZf_gblhklvxihjZ^bhh g_ci_j_^Zeb j_ihjlZ` ih^ gZa\Zgb_f ©;_jebgkdZy hjb]bgZedZª HgZ klZeZ emqr_c ijh^Z\sbp_c ]Za_l klhebpuD wlhcijhn_kkbbhgZijb\e_deZk\h_]hfm`Zghhlau\ZeZkvh g_fk ij_g_[j_`_gb_f ©Hg ^ey gZr_]h ^_eZ g_ ]h^beky h[hjhl m g_]h [ue gbdm^urgbcª GZkdhevdh < [ueZ keh\hhohleb\Z jZkkdZau\Zy h k\hbo ijhn_kkbyo b aZ jZ[hldZo gZklhevdh `_ k^_j`Zggh hgZ ]h\hjbeZ h k\h_c ebqghc `bagb \ dhlhjhc _c g_ hq_gvlh \_aeh HgZ [ueZ aZfm`_f ljb jZaZ I_j\ucjZa\ureZaZfm`\ ]h^Wlh]hfm`ZgZau\ZeZ©fhehlh[hcp_fªlZddZdhgdh]^Z[u \Zeivygbaj_\ghklbd dhlhjhc©\ h[s_flhg_[uehhkgh\Zgbcª[be__ fhehldhfAZ]h^Z [jZdZq_j_a]h^Z<jZa\_eZkvjh^beZq_l\_juo^_l_cgh\k_hgbdjhf_ihke_^g_]hmfbjZeb \kdhj_ihke_jh^h\\ ^_l^hfZodm^ZhgZ\ugm`^_gZ[ueZbohl^Z\Zlvb[h©fm`ohl_e^_eZlv ^_l_cghg_ohl_ebobf_lvª<lhjh]hfm`Z\lhjhc[jZd\ e_lhgZgZau\ZeZ©\uib\hohcª hglZd`_g_sZ^gh[be<b _cqZklhijboh^behkvkj_^bghqbmoh^blvba^hfmkiZkZykvhlg_]h [_]kl\hfb kehgylvkyihmebpZf©dZdijhklblmld_dZdhcgb[m^vªQ_j_aljb]h^ZhgZjZa\_eZkv b kh \lhjuf fm`_f ©Y [ueZ jZ^ZjZ^_r_gvdZ qlh hl g_]h ba[Z\beZkv Ijhdhjfblv y b kZfZ k_[yijhdhjfexªLj_lbc[jZdkhklhyekydh]^Z_c[uehe_lFm`mf_jq_j_aljbf_kypZHgZ _]h ex[beZ b bkdj_gg_ hieZdb\ZeZ Ihke_ ihl_jb fm`Z < klZeZ ]emrblv lhkdm Zedh]he_f \ debgbdm ihklmibeZ k y\e_gbyfb ij_^_ebjby Dh]^Z __ gZau\Zeb ©Zedh]hebqdhcª hgZ j_adh \hajZ`ZeZ ©Y \k_]^Z mf_j_ggh \uib\ZeZ dZdhc `_ ehlhqgbd g_ iv_l ohlv g_fgh]h"ª ² ]h\hjbeZ hgZ Fu kijhkbeb g_ ^mfZ_l eb hgZ _s_ jZa \klmiblv \ [jZd < hl\_lbeZ qlh ihke_^g_]hfm`Z_cg_aZ[ulvLml`_hgZaZf_lbeZqlhwlhl\hijhk__fZeh\hegm_llZddZd ©gZclbiZjlg_jZª^eyg__g_ijh[e_fZ<h\j_fyqZkluoh[ke_^h\Zgbc\ debgbd_<\k_]^Z[ueZ \ ijbih^gylhf gZkljh_gbb keh\hhohleb\Z j_qv i_j_kuiZeZ hkljhlZfb Kh k\hbf \jZqhf hgZ a^hjh\ZeZkvdZdk ohjhr_cagZdhfhc?keb\ dhfgZl_djhf_e_qZs_]h\jZqZijbkmlkl\h\Ze_s_ dlhgb[m^v hgZ g_f_^e_ggh \klmiZeZ k wlbf ebphf \ dhglZdl rmlbeZ h`b\e_ggh jZa]h\Zjb\ZeZ;_k_^Z\jZqZk g_ch[uqghlygmeZkvhq_gv^he]hlhevdhi_j\h_ij_^eh`_gb_< ijyfhdZkZehkvihklZ\e_ggh]h\hijhkZihke_q_]hhgZi_j_kdZdb\ZeZgZbgnhjfZpbxbf_\rmx \_kvfZhl^Ze_ggmxk\yavk aZljhgmlhcl_fhc Fu ijh^he`Zeb gZ[ex^Zlv < b ihke_ \uibkdb ba debgbdb IhdZ hgZ g_ ibeZ hgZ [ueZ \iheg_Zdlb\ghcjZ[hlgbp_cohjhrhkijZ\ey\r_ckyk ihjmq_gguf^_ehfFuij_^eh`beb_c jZ[hlmm[hjsbpu\ debgbd_<kdhj___ \k_a^_kvagZeblZddZdhgZk dZ`^uf\klmiZeZ\ [_k_^m J_pb^b\ugZklmiZebihklhygghb lh]^Z<g_\uoh^beZgZjZ[hlm\ZeyeZkv\ ivyghf\b^_^hfZ Fu \ wlbo kemqZyo \gh\v ihf_sZeb __ \ debgbdm gZ bae_q_gb_ qlh hgZ \k_]^Z kqblZeZ g_h[hkgh\Zgguf ihkdhevdm Zedh]hebdhf k_[y lZd gbdh]^Z b g_ ijbagZeZ H^gZ`^u __ gZreb ^hfZ f_jl\hc ?c [ueh e_l GZdZgmg_ hgZ fgh]h ibeZ ijbqbghc kf_jlb [ueZ hkljZy g_^hklZlhqghklvk_j^pZ < k_fv_ < [ueb ]bi_jlbfbq_kdb_ ebqghklb KZfZ < h[eZ^ZeZ yjdh \ujZ`_ggufb ]bi_jlbfbq_kdbfbq_jlZfb[ueZ\k_]^Z\_k_eZgZoh^qb\ZbkdmkgZ\ h[oh`^_gbbk ex^vfbgh b ^_eh\blZ ?_ ihklhyggu_ mdehg_gby \ klhjhgm hl l_fu aZklZ\eyxl ij_^iheh`blv gZebqb_ kdZqdb b^_c Lhjfh`_gby fhjZevgh]h ihjy^dZ ^ey g__ g_ [ueb oZjZdl_jgu gh \k_ `_ hgZ klZjZeZkvkdjulvk\hb k_dkmZevgu_ ihoh`^_gby < g_ kmf_eZ \hkiblZlv k\h_]h _^bgkl\_ggh]h j_[_gdZ hg \hkiblu\Zeky \ ^_l^hf_ b ^_eh a^_kv g_ lhevdh b g_ klhevdh \ g_^hklZlhqghf qm\kl\_ fZl_jbgkdhc ex[\b ² hgZ \ h[s_f k l_iehlhc \kihfbgZeZ h ^_lyo <_jhylg__ \k_]h g_k_jv_agh_ hlghr_gb_ d ^_lyf h[tykgyehkv h[sbf hlkmlkl\b_f khkj_^hlhq_gghklb iheguf g_mf_gb_f`blvp_e_mklj_fe_ggh?s_^hlh]hdZd<gZqZeZiblvhgZg_fh]eZijbkihkh[blvky d khpbZevgufjZfdZfd l_flj_[h\Zgbyfdhlhju_ij_^ty\ey_l`bagvd ghjfZevgufex^yf< ihqlb g_ij_ju\gh f_gyeZ jh^ aZgylbc ljm^h\uo ^hklb`_gbc m g__ nZdlbq_kdb g_l Aehmihlj_[eylv kibjlguf < gZqZeZ baaZ k\h_c n_ghf_gZevghc [_ki_qghklb [_ahl\_lkl\_gghklb < dZdhclh f_j_ wlh [ueh k\yaZgh b k l_f qlh h[klhyl_evkl\Z `bagb < ihklhygghlhedZeb__d jxfd_ >bklbfbq_kdb_ebqghklb >bklbfbq_kdbc l_fi_jZf_gl ijb [he__ j_adhf ijhy\e_gbb km[^_ij_kkb\guc ij_^klZ\ey_l kh[hc ijhlb\hiheh`ghklv ]bi_jlbfbq_kdhfm Ebqghklb wlh]h lbiZ ih gZlmj_ k_jv_agub h[uqgh khkj_^hlhq_gugZ fjZqguo i_qZevguo klhjhgZo `bagb \ ]hjZa^h [hevr_c kl_i_gb q_f gZ jZ^hklguo Kh[ulby ihljykrb_ bo ]em[hdh fh]ml ^h\_klb wlm k_jv_agmx i_kkbfbklbq_kdmxgZkljh_gghklv^hkhklhygbyj_Zdlb\ghc^_ij_kkbbhkh[_ggh\ l_okemqZyo dh]^Z gZebph j_adh \ujZ`_ggu_ km[^_ij_kkb\gu_ q_jlu Klbfmebjh\Zgb_ `bag_^_yl_evghklb ijb ^bklbfbq_kdhf l_fi_jZf_gl_ hkeZ[e_gh fukev jZ[hlZ_l aZf_^e_ggh < h[s_kl\_ ^bklbfbq_kdb_ ex^b ihqlb g_ mqZkl\mxl \ [_k_^_ ebrv baj_^dZ \klZ\eyxl aZf_qZgby ihke_ ^ebl_evguo iZma K_jv_agZy gZkljh_gghklv \u^\b]Z_l gZ i_j_^gbc ieZg lhgdb_ \ha\ur_ggu_ qm\kl\Z g_kh\f_klbfu_ k q_eh\_q_kdbf w]hbafhf K_jv_agZy gZkljh_gghklv \_^_l d nhjfbjh\Zgbx k_jv_aghc wlbq_kdhc ihabpbb IhdZaZl_evgh m`_ lh qlh \ h[hbo kemqZyo fu ihevam_fkyhij_^_e_gb_f©k_jv_agucªWlhmdZau\Z_lgZ\gmlj_ggxx[ebahklvf_`^m^Zggufb ijhy\e_gbyfb Bf_ggh \ gbo fu b mkfZljb\Z_f iheh`bl_evgmx klhjhgm ^bklbfbq_kdh]h l_fi_jZf_glZ IZkkb\ghklv \ ^_ckl\byo b aZf_^e_ggh_ fure_gb_ \ l_o kemqZyo dh]^Z hgb \uoh^yl aZ ij_^_eu ghjfu hlghkylky d hljbpZl_evguf k\hckl\Zf wlh]h l_fi_jZf_glZ Km[^_ij_kkb\guc l_fi_jZf_gl e_]dh ihklZ\blv \ k\yav k ^_ij_kkb\guf ikbobq_kdbf aZ[he_\Zgb_f gh dZd b ijb ]bi_jlbfbb wlZ k\yav hlgx^v g_ h[yaZl_evgZ Wlhl l_fi_jZf_gl hq_gv qZklh khhl\_lkl\m_l ikbobq_kdhc ghjf_ Ijb\h`m h^gh ba hibkZgbc ba gZr_]h dhee_dlb\gh]hljm^Z\jZqMg]_j Ohjkl ; ] jh`^ Hl_p ² q_eh\_d kihdhcguc aZfdgmluc FZlv [he__ `b\Zy ih gZlmj_ gh ihklhyggh [he__l M ; ^\Z [jZlZ h[Z ² gZlmju [he__ jZkdh\Zggu_ q_f ; M`_ j_[_gdhf ; [ue \_kvfZ aZfdgml Mq_gb_ ^Z\Zehkv g_e_]dh gh ih fh]ZeZ ^h[jhkh\_klghklv \lhjh]h^gbdhf ; g_ [ue ;ebadh]h lh\ZjbsZ m g_]h \ rdhe_ g_ [ueh dZd \ijhq_f b \ ihke_^mxsb_ ]h^u Khmq_gbdh\ ; kqblZe omeb]ZgZfb b \hafmsZeky dh]^Z hgb g_k_jv_agh hlghkbebkv d lj_[h\Zgbyf mqbl_e_c >hfZ ex[be fZkl_jblv f_qlZe klZlv klheyjhf djZkgh^_j_\sbdhfghihhdhgqZgbbrdheuihemqbef_klhmq_gbdZ lhdZjy Q_j_a ]h^ hklZ\be wlm jZ[hlm ihke_ q_]h ^h ] jZ[hlZe jZaghjZ[hqbf < ] gZqZe jZ[hlZlv \ ]hjghc ijhfure_gghklb klZe [jb]Z^bjhf < \uoh^gu_ ^gb jZa\e_q_gbyf dhlhjuf ij_^Z\Zebkv _]h lh\ZjbsbihjZ[hl_ij_^ihqblZeh^bghdb_^ebl_evgu_ijh]medbabfhcoh^beh^bggZeu`Zo Q_j_aihelhjZ]h^Z_]hohl_ebi_j_\_klbgZ^jm]mxrZolmghhghldZaZekyihkdhevdmaZwlhc rZolhcmklZgh\beZkviehoZyj_imlZpbyb ihr_ejZ[hlZlvih^kh[gufjZ[hqbf>\h_lh\Zjbs_c m]h\hjbeb _]h ih^Zlv ^hdmf_glu \ rdhem ihebp_ckdh]h mijZ\e_gby ; hdhgqbe rdhem hnbp_jh\ihebpbbijZ\^ZgZljhcdbb klZegZqZevgbdhfa\_gZJZ[hlZ_]hgb \dh_cf_j_g_ m^h\e_l\hjyeZ hg g_ ex[be dhfZg^h \Zlv g_ ex[be ij_h^he_\Zlv qv_lh khijhlb\e_gb_ ©Hl jZ[hlu gbdZdhc g_ [ueh jZ^hklb ² jZkkdZau\Ze hg ² ^Z b kZfZ `bagv dZaZeZkv [_kkfuke_gghcªIhijhkv[_;_]hi_j_\_eb\ a\_gh]^_[uehf_gvr_ex^_c<ijhq_ffg_gb_ gZ jZ[hl_ h g_f kha^Zehkv ohjhr__ KZfuf [hevrbf `_eZgb_f ; [ueh i_j_clb gZ ^jm]mx jZ[hlm gh wlh]h g_ ^himkdZeZ ihebp_ckdZy ^bkpbiebgZ I_j\u_ bglbfgu_ hlghr_gby k ^_\mrdhc ijh^he`Zebkv ]h^Z HklZ\be hg __ ih lhc ijbqbg_ qlh hgZ bf_eZ h[udgh\_gb_ jZkkdZau\Zlv _fm h ijb]eZr_gbyo ^jm]bo fm`qbg ©Hkh[_ggh f_gy aZ^_\Zeh qlh _c wlh lZd evklbl qlh hgZ lZd wlbf ]hj^blkyª ² ]h\hjbe ; < ] `_gbeky gZ jh\_kgbp_ gh hgb k `_ghc ©g_ khrebkv oZjZdl_jZfbª @_gZ \_qgh lygmeZ _]h gZ lZgpu gZ dhee_dlb\gu_ aZ]hjh^gu_ ijh]medb hg `_ ij_^ihqblZe hklZ\Zlvky ^hfZ k ^_lvfb ?keb `_gZ ijb]eZrZeZ ]hkl_chg\_kv\_q_jfheqZeEx[hfmijb_fmhgij_^ihqblZeh^bghq_kl\hb dgb]m©Ghy __g_ hkm`^Zxm g__gZlmjZ^jm]Zyª< ]©ihh[hx^ghfmkh]eZkbxªhgbih^ZebgZjZa\h^@_gZ ij_^eh`beZ_fmb ihke_jZa\h^Z`blv\ h^ghcd\Zjlbj_©\f_kl_e_]q_aZ^_lvfbijbkfhlj_lvª ;kh]eZkbekyHgh[tykgbewlhlZd©GZ^_`^u\k_jZ\ghg_k[uebkvmc^my bebhklZgmkv²wlh m`_ ih kms_kl\m g_ f_gy_l ^_eZª Hg j_rbe qlh kt_^_l k wlhc d\Zjlbju _keb `_gZ gZc^_l gh\h]h^jm]Z`bagbJZkkdZah k_[_;i_j_kuiZelZdbfbaZf_qZgbyfb©Y \k_]^Z\b`m\h\k_f iehoh_ª©IhgZklhys_fmohjhrhfg_gbdh]^Zg_`behkvª©Y gbk d_fg_fh]mdhglZdlbjh\Zlv y dZdhclhg_iheghp_ggucªKgZqZeZhg\hh[s_hldZau\Zekyh k_[_jZkkdZau\Zlv©D q_fmwlh"ª M wlh]h q_eh\_dZ g_khfg_ggh bf_xlky iheh`bl_evgu_ q_jlu D h[yaZgghklyf hg hlghkblkyk_jv_agh]^_[ugbjZ[hlZe²bf\k_]^Z[ueb^h\hevguHglZdlbq_gkijZ\_^eb\ Gh g_^hklZlhqgZy Zdlb\ghklv ihf_rZeZ _fm hj]Zgbah\Zlv k\hx `bagv lZd qlh[u qm\kl\h\Zlv m^h\e_l\hj_gb_ IhklhyggZy i_kkbfbklbq_kdZy mklZgh\dZ mkm]m[ey_l iheh`_gb_ h[ke_^m_fuc iulZ_lky ©gZqZlv qlhlh ^jm]h_ª \dexqblvky \ gh\mx ijhn_kkbx gh jZ^hklb beb ^Z`_ jZ\gh\_kby g_ gZoh^bl Hkh[_gghklb l_fi_jZf_glZ m^Z_lky dZd ijZ\beh mklZgh\blv m`_ \ ^_lkl\_ =bi_jlbfbq_kdbc l_fi_jZf_gl m ^_l_c hij_^_eblv e_]dh ih`Zemc e_]q_ q_f m \ajhkeuo lZd dZd d _kl_kl\_gghc ^_lkdhc `b\hklb ijbkh_^bgy_lky `b\hklv l_fi_jZf_glZ < k\h_f ljm^_ ©>_lkdb_ g_\jhau b ^_lkdZy ebqghklvª y hibkZe lZdbo ©k\_jo[hcdboª ©k\_joj_a\uoª ^_l_c >bklbfbq_kdbc l_fi_jZf_gl m ^_l_c lZd`_ g_ljm^gh jZkihagZlv LZdb_ ^_lb\u^_eyxlkykj_^b^jm]bojh[hklvxg_j_rbl_evghklvxH[wlhfk\b^_l_evkl\m_lkemqZc hibkZggucP_ee_jhf\ gZr_cdgb]_ DZjeKe_lIhklmibed gZf^eyijhoh`^_gbydmjkZklZpbhgZjgh]he_q_gbyFZlv² `_gsbgZg_mjZ\gh\_r_ggZy©lhieZq_llhkf__lkyªbgh]^Z[u\Z_lkljh]Zb \u^_j`ZggZHl_p ² i_dZjv ih gZlmj_ q_eh\_d `b\hc jZ[hlgbd ^h[jhkh\_klguc FZlv ihklhyggh ihfh]Z_l \ i_dZjg_hl_phq_gvjZgheh`blkykiZlv\ k\yabk mkeh\byfbljm^Zihwlhfm^_lbnZdlbq_kdb ij_^hklZ\e_gukZfbfk_[_Bar_klb^_l_cDZjekZfuclbobcb f_^ebl_evgucohly_]h\jy^eb fh`gh gZa\Zlv [hyaeb\uf FZevqbd \k_]^Z hq_gv k_jv_a_g gbdh]^Z g_ kf__lky hl ^mrb K g_agZdhfufb DZje jh[hd aZkl_gqb\ gZqbgZ_l aZbdZlvky ;hblky oh^blv aZ ihdmidZfb ©lZf ijboh^blky jZa]h\Zjb\Zlv k ijh^Z\pZfbª :ddmjZl_g \ h^_`^_ Kh klZjrbf [jZlhf dhlhjh]h jh^bl_eb ex[yl [hevr_ q_f _]h qZklh kkhjblky lh]^Z [jZl k lh\ZjbsZfb ba[b\Zxl _]h < rdhe_ DZjem ijboh^behkv ljm^gh hg ^Z`_ h^bg jZa hklZeky gZ \lhjhc ]h^ Mqbeky hg ^h[jhkh\_klghgh\j_f_gbgZih^]hlh\dmmjhdh\moh^beh\^\h_[hevr_q_fm ^jm]bo^_l_c< deZkk_ \k_ gZ^ gbf ih^ljmgb\Zeb gbdlh gbdh]^Z g_ aZsbsZe _]h Hg ^jm`be k mq_gbdZfb feZ^rbo deZkkh\ ©hgb g_ lZdb_ gZoZevgu_ b g_ ^_jmlkyª < hl^_e_gbb DZje [ue jh[hd aZlhjfh`_g ihklhyggh ih^Z\e_g qZklh gZ ]eZaZ m g_]h gZ\hjZqb\Zebkv ke_au >_lkdhc kf_reb\hklb`bag_jZ^hklghklbg_[uehb \ihfbg_]h\hjbehq_gvlbohHgqZklhh[b`ZekygZ ^_l_cghe_]dhr_egZijbfbj_gb_AZ\kydh_ijhy\e_gb_\gbfZgby[uebkdj_gg_[eZ]h^Zj_g JZkkijhkuh klZjr_f[jZl_ijb\h^beb_]h\ kbevgh_\ha[m`^_gb_GZr^_lkdbcdhee_dlb\_]h ©g_ ijbgyeª DZje [ue kqZkleb\ dh]^Z gZr_eky fZevqbd dhlh juc k gbf k^jm`beky Wlhfm fZevqbdm hg ihdhjyeky \h \k_f jZ^b g_]h r_e ^Z`_ gZ ijhklmidb dhlhju_ kZf `_ hkm`^Ze ijhimkdb mjhdh\ \ rdhe_ ijb debgbd_ <hajZklgu_ ihdZaZl_eb bgl_ee_dlZ hij_^_ey_fu_ ki_pbZevgufbl_klZfb\ ghjf_ M DZjeZ ijhy\ey_lky \_kv dhfie_dk km[^_ij_kkb\gh]h l_fi_jZf_glZ M g_]h g_l ^_lkdhc [_ki_qghklb \_k_ehklb hg ijhba\h^bl kdhj__ \i_qZle_gb_ ih^Z\e_ggh]h j_[_gdZ D wlhfm ijbkh_^bgyxlkyf_^ebl_evghklvg_ih\hjhleb\hklv<_jhylghb fure_gb_m g_]haZf_^e_ggh_ h q_f k\b^_l_evkl\m_l g_mki_\Z_fhklv \ rdhe_ G_kfhljy gZ ghjfZevguc bgl_ee_dl ^_ij_kkb\ghklv b f_^ebl_evghklv j_Zdpbc [ueZ ijbqbghc _]h hlklZ\Zgby hl k\_jklgbdh\ Ihwlhfmk\_jklgbdbgZ^DZjehfih^kf_b\Zebkvhg`_aebekyb h[b`ZekygZgbo : nn_dlb\gheZ[bevgucl_fi_jZf_gl :nn_dlb\gheZ[bevgu_ beb ijb yjdh \ujZ`_gguo ijhy\e_gbyo pbdehlbfbq_kdb_ ebqghklb ² wlh ex^b ^ey dhlhjuo oZjZdl_jgZ kf_gZ ]bi_jlbfbq_kdbo b ^bklbfbq_kdbo khklhygbc GZ i_j_^gbc ieZg \uklmiZ_l lh h^bg lh ^jm]hc ba wlbo ^\mo ihexkh\ bgh]^Z [_a \kydbo\b^bfuo\g_rgbofhlb\h\Z bgh]^Z\ k\yabk l_fbbebbgufbdhgdj_lgufbkh[ulbyfb Ex[hiulghqlhjZ^hklgu_kh[ulby\uau\Zxlm lZdboex^_cg_lhevdhjZ^hklgu_wfhpbbgh lZd`_ khijh\h`^Zxlky h[s_c dZjlbghc ]bi_jlbfbb `Z`^hc ^_yl_evghklb ih\ur_gghc ]h\hjeb\hklvx kdZqdhc b^_c I_qZevgu_ kh[ulby \uau\Zxl ih^Z\e_gghklv Z lZd`_ aZf_^e_gghklv j_Zdpbc b fure_gby Ijbqbghc kf_gu ihexkh\ g_ \k_]^Z y\eyxlky \g_rgb_ jZa^jZ`bl_eb bgh]^Z ^hklZlhqgh [u\Z_l g_meh\bfh]h ih\hjhlZ \ h[s_f gZkljh_gbb ?keb kh[bjZ_lky \_k_eh_ h[s_kl\h lh Znn_dlb\gheZ[bevgu_ ebqghklb fh]ml hdZaZlvky \ p_glj_ \gbfZgby [ulv ©aZ\h^beZfbª m\_k_eylv \k_o kh[jZ\rboky < k_jv_aghf kljh]hf hdjm`_gbb hgb fh]ml hdZaZlvky kZfufb aZfdgmlufb b fheqZeb\ufb Wlhl l_fi_jZf_gl lZd`_ bf__l iZjZee_ev kj_^b ikbobq_kdbo aZ[he_\Zgbc ² fZgbZdZevgh^_ij_kkb\guc ikboha dhlhjuc lZd`_ijhoh^bldZd[uf_`^m^\mfyihexkZfbH^gZdhwlbheh]bq_kdZyk\yav\ wlhfkemqZ_g_ h[yaZl_evgZFh`gh[ueh[uij_^iheh`blvqlheZ[bevghklv\gmlj_gg_]hkhklhygbyk\yaZgZk gZke_^kl\_gguf kh\f_s_gb_f ]bi_jlbfbq_kdh]h b ^bklbfbq_kdh]h l_fi_jZf_glZ l _ h^gZ q_jlZmgZke_^h\ZgZhlhlpZ^jm]Zy²hlfZl_jbH^gZdhfhbgZ[ex^_gbyihdZaZebqlh lZdh_ kh\f_s_gb_ g_ \uau\Z_l Znn_dlb\ghc eZ[bevghklb GZijhlb\ \ ih^h[guo kemqZyo \hagbdZ_l \aZbfhdhfi_gkZpby h[mkeh\eb\ZxsZy ihy\e_gb_ kbglhggh]h l_fi_jZf_glZ ^ey dhlhjh]h oZjZdl_jgh ihklhyggh jh\gh_ g_cljZevgh_ gZkljh_gb_ Ijb wlhf gZ[ex^Z_lky dZjlbgZih^h[gZylhcdhlhjZy\klj_qZ_lkyijbkhq_lZgbbbkl_jbq_kdbob ZgZgdZklbq_kdboq_jl oZjZdl_jZ <_kvfZ ihdZaZl_evgh qlh khq_lZgb_ Zdp_glmbjh\Zgguo beb ikbohiZlbq_kdbo ebqghklguo q_jl \ lhf beb bghf q_eh\_d_ g_ mkbeb\Z_l Zdp_glmZpbx beb ikbohiZlbx gZijhlb\ hgh \_^_l d \ujZ\gb\Zgbx oZjZdl_jZ l _ d ghjf_ Wlh gZ[ex^_gb_ ij_^klZ\ey_l bgl_j_k\ i_j\mxhq_j_^v^eyl_odlhkdehg_gmkfZljb\Zlv\ ikbohiZlbyog_qlhijbgpbibZevgh hljbpZl_evgh_F_`^ml_f^\_ikbohiZlbbkeh`_ggu_\f_kl_fh]ml^Zlv\ j_amevlZl_ghjfm Ijb\h`mijbf_jZnn_dlb\gheZ[bevghcebqghklbjZg__wlZebqghklv[ueZhibkZgZMg]_j OjbklbgZ R ] jh`^ Hl_p ih]b[rbc \h \j_fy \hcgu [ue `b\uf wg_j]bqguf q_eh\_dhfkljZklgufnbeZl_ebklhfex[bl_e_fnml[heZb ^mrhch[s_kl\ZFZlvb k_cqZk_s_ ljm^blky gZ dhg^bl_jkdhc nZ[jbd_ hgZ q_eh\_d ^_yl_evguc m^ZjgbpZ ljm^Z ohly kdehggZ bgh]^Z\iZ^Zlv\ ©q_jgmxf_eZgohebxªhq_gvj_eb]bhagZM Rljbk_klju\k_ljb²`b\u_ dmevlmjgu_ ij_^ijbbfqb\u_ hkh[u R [ueZ hq_gv `b\uf j_[_gdhf \ rdhe_ \ha]eZ\eyeZ ©jZam^Zemx dhfiZgbxª rdhem ihk_sZeZ hohlgh mqbeZkv ohjhrh gh k ]h deZkkZ klZeZ ©k^Z\ZlvªJh^bl_ebohl_ebqlh[uR klZeZmqbl_evgbp_chgZ`_f_qlZeZklZlvibZgbkldhcgZ jhye_b]jZ_lk k_fbe_lg_]h\hajZklZDh]^ZR[uehe_lhgZ\f_kl_k k_kljhcij_^ijbgyeZ ihiuldmih[_]Zghbo\kdhj_\_jgmeb^hfhc< gZaj_\Z\r_fdhgnebdl_k [m^ms_cijhn_kkb_c ihfh]eZ dZd wlh gb kljZggh \hcgZ < \h_ggu_ ]h^u qlh[u h[_ki_qblv k_[_ ijhiblZgb_ k_kljZf ijbrehkv jZ[hlZlv ^hfjZ[hlgbpZfb R ihiZeZ \ k_fvx fmaudZevgh]h jmdh\h^bl_ey l_ZljZ ©Fg_ hq_gv ih\_aehª ² ]h\hjbl hgZ >bj_dlhj mkljhbe R gZ jZ[hlm \ l_Zlj dhgp_jlf_ckl_jhf IjZ\^Z wlZ ^_yl_evghklv baaZ ihklhygguo bgljb] \ l_Zlj_ fZeh m^h\e_l\hjyeZRghkZfZihk_[_jZ[hlZk fmaudhc[ueZ^eyg__jZ^hklvxIhghqZf^_\mrdZ qZklhg_kiZeZ©\]juaZeZkvªfukeyfb\ ly`_emx©^mrgmxªZlfhkn_jmbgljb]\ l_Zlj_K ] R jZ[hlZ_l ibZgbkldhc \ hjd_klj_ lZgp_\Zevgh]h ZgkZf[ey k ] ² ibZgbkldhc \ hjd_klj_ aZl_f dhgp_jlf_ckl_jhf ohjZ < wlhl `_ i_jbh^ hdZgqb\Z_l rdhem ih jZ[hl_ k dZ^jZfb GZ ijhly`_gbb \k_o wlbo e_l R [h^jZ hilbfbklbqgZ ij_^ijbbfqb\Z Baj_^dZ [u\Zebfhf_glujZahqZjh\Zgbylhkdbghhgb[ukljhijhoh^bebK ]RgZqZeZjZ[hlZlv\ Zdlb\_gZjh^guoaZk_^Zl_e_cIhklhyggucZdlb\guc dhglZdlk ex^vfb __ kgZqZeZ jZ^h\Ze gh aZl_fRklZebh[mj_\Zlvfukebh[©hd_Zg_]hjyªdhlhjufij_^klZ\eyeky_cfbjb wlZjZ[hlZ ihdZaZeZkvR g_\ughkbfhcK ]aZdhgqb\djZldhkjhqgu_dmjkujZ[hlZ_lgZijhba\h^kl\_ klZlbklbdhf < i_jbh^ h[mq_gby gZ dmjkZo hgZ \u^_eyeZkv gZ k_fbgZjZo kihkh[ghklyfb b q_ldbfb hl\_lZfb < ] i_j_reZ gZ gh\mx jZ[hlm ² ieZgh\bdhf \ kbkl_f_ gZjh^gh]h iblZgbyGhwlZjZ[hlZm g__g_kihjbeZkvhgZ^himkdZeZfgh]hhrb[hdIhke_jZ[hq_]h^gyR qZklhho\Zlu\ZehhlqZygb_HgZkgh\Zf_gy_lf_klhjZ[hluaZgbfZ_l^he`ghklvdZevdmeylhjZ ghgZjZ[hlmoh^blk hl\jZs_gb_f<_q_jhfgZqbgZxlkyjZa^mfvykZfh[bq_\Zgb_b kljZoi_j_^ gZklmiZxsbf ^g_f LZd ijh^he`Zehkv ^h ] R \k_ \j_fy [ueZ kdehggZ d i_kkbfbklbq_kdhfm kZfhZgZebam ebrv baj_^dZ ihy\eyebkv ijhk\_lu Ihqm\kl\h\Z\ ihegmx g_kihkh[ghklvjZ[hlZlvRh[jZlbeZkvd gZf< gZr_fklZpbhgZj_hgZkgZqZeZ[ueZih^Z\e_gZ \kx\bgmaZfgh]hqbke_ggu_k\hbkju\u[jZeZgZk_[yGhihkl_i_gghd g_cklZeZ\ha\jZsZlvky `bag_jZ^hklghklv [h^jhklv ©M f_gy [u\Zxl ]gmkgu_ q_jgu_ ihehkuª ² ]h\hjbeZ hgZ b ^h[Z\eyeZ qlh fhghlhggZy jZ[hlZ ]m[bl __ ©Gh l_i_jv \k_ ijhrehª ² jZ^h\ZeZkv R HgZ kh[bjZeZkv \uibkZ\rbkv hj]Zgbah\Zlv \hdZevguc ZgkZf[ev < bglbfghc `bagb m R ih __ keh\Zf l\_j^u_ ijbgpbiu < ]h^Z hgZ ihagZdhfbeZkv kh k\hbf [m^msbf fm`_f b ih k_c ^_gv y\ey_lky `_ghc wlh]h ©aZf_qZl_evgh]h ]em[hdh ihjy^hqgh]h q_eh\_dZª Gh kqZkleb\uc [jZdhfjZqZ_lkhagZgb_qlhfm`baaZg__jZa\_ekykhk\h_ci_j\hc`_ghcBgh]^ZhgZ^mfZ_l qlh\k___ g_m^Zqbg_qlhbgh_dZdgZdZaZgb_gbkihkeZggh__caZlhqlhjZa[beZk_fvx J_[_gdhf R g_khfg_ggh h[eZ^ZeZ ]bi_jlbfbq_kdbf l_fi_jZf_glhf <h \j_fy \hcgu [ueb i_jbh^u m]g_l_gghklb dh]^Z hgZ klhjhgbeZkv k\hbo khljm^gbdh\ Ihke_ \hcgu gZqbgZ_lky jy^ [_ki_qguo [_ah[eZqguo e_l K ]bi_jlbfbq_kdhc e_]dhklvx hgZ ij_h^he_\Z_l keh`gu_ ij_iylkl\by b ^h[b\Z_lky agZqbl_evguo ijhn_kkbhgZevguo mki_oh\ @bagv \ wlhf i_jbh^_ ebrv baj_^dZ hfjZqZ_lky djZldh\j_f_ggufb i_jbh^Zfb m]g_l_gghklb < ] gZklmiZ_l ^ebl_evguc i_jbh^ ih^Z\e_gghklb k ^_ij_kkb\gufb fukeyfb < ² ]] ihy\ey_lkyijhk\_lZ kih]h^R\gh\vih]jm`Z_lky\ ]em[hdmx^_ij_kkbxJZ[hlZlv \ wlh \j_fy g_ fh`_l kh\k_f < debgbd_ fu ^h\hevgh ^_lZevgh hagZdhfbebkv k h[_bfb klhjhgZfb__ l_fi_jZf_glZb k^bklbfbq_kdhcb k]bi_jlbfbq_kdhc< jZa]h\hj_gZk_jv_agu_ ly`_eu_l_fuRkdehggZ[ueZih^oh^blvd k\h_c`bagbdjblbq_kdbb \bgblvaZ\k_ijh\Zeub kju\ulhevdhk_[yGZl_fujZ^hklgu_hgZj_Z]bjh\ZeZk `b\hklvxklZgh\beZkvjZa]h\hjqb\hc b \_kvfZ \_k_ehc <_jhylgh __ ih\_^_gb_ b \ ij_`gb_ ]h^u dhe_[Zehkv hl h^gh]h ihexkZ d ^jm]hfm ]hjZa^h qZs_ q_f h[ wlhf fh`gh km^blv ih __ jZkkdZaZf LZdh_ ij_^iheh`_gb_ ih^l\_j`^Z_lkygZ[ex^_gbyfb\ debgbd_a^_kvfuaZkjZ\gbl_evghdhjhldh_\j_fyhdZaZebkv k\b^_l_eyfb\_kvfZqZklhckf_gu__©pbdeh\ª :nn_dlb\ghwdaZevlbjh\Zggucl_fi_jZf_gl :nn_dlb\ghwdaZevlbjh\Zgguc l_fi_jZf_gl dh]^Z hg ih kl_i_gb \ujZ`_gghklb ijb[eb`Z_lky d ikbohiZlbb fh`gh [ueh [u gZa\Zlv l_fi_jZf_glhf lj_\h]b b kqZklvy Wlh gZa\Zgb_ ih^q_jdb\Z_l _]h [ebadmx k\yav k ikbohahf lj_\h]b b kqZklvy dhlhjuc khijh\h`^Z_lky j_adbfb dhe_[Zgbyfb gZkljh_gby Hibku\Z_fuc l_fi_jZf_gl fh`_l ^_ckl\bl_evgh hdZaZlvky hkeZ[e_gghc nhjfhc wlh]h aZ[he_\Zgby gh lZdZy \aZbfhk\yav g_ h[yaZl_evgZ< kemqZyodh]^ZgZ[ex^Z_lkyqbklZyZnn_dlb\gZywdaZevlZpbyl_f[he__g_fh`_l [ulvb j_qbh iZlheh]bb:nn_dlb\ghwdaZevlbjh\Zggu_ex^bj_Z]bjmxlgZ`bagv[he__[mjgh q_f hklZevgu_ L_fi gZjZklZgby j_Zdpbc bo \g_rgb_ ijhy\e_gby hlebqZxlky [hevrhc bgl_gkb\ghklvx:nn_dlb\ghwdaZevlbjh\Zggu_ebqghklbh^bgZdh\he_]dhijboh^yl\ \hklhj] hl jZ^hklguo kh[ulbc b \ hlqZygb_ hl i_qZevguo Hl ©kljZklgh]h ebdh\Zgby ^h kf_jl_evghc lhkdbª ]h\hjy keh\Zfb ihwlZ m gbo h^bg rZ] WdaZevlZpby \ g_agZqbl_evghc f_j_ k\yaZgZ k ]jm[ufb w]hbklbq_kdbfb klbfmeZfb ]hjZa^h qZs_ hgZ fhlb\bjm_lky lhgdbfb Zevljmbklbq_kdbfb ih[m`^_gbyfb Ijb\yaZgghklv d [ebadbf ^jmavyf jZ^hklv aZ gbo aZ bo m^Zqbfh]ml[ulvqj_a\uqZcghkbevgufbGZ[ex^Zxlky\hklhj`_ggu_ihju\ug_k\yaZggu_k km]m[h ebqgufb hlghr_gbyfb Ex[h\v d fmaud_ bkdmkkl\m ijbjh^_ m\e_q_gb_ kihjlhf i_j_`b\Zgby j_eb]bhagh]h ihjy^dZ ihbkdb fbjh\haaj_gby ² \k_ wlh kihkh[gh aZo\Zlblv wdaZevlbjh\Zggh]h q_eh\_dZ ^h ]em[bgu ^mrb >jm]hc ihexk _]h j_Zdpbc ² djZcgyy \i_qZlebl_evghklvihih\h^mi_qZevguonZdlh\@ZehklvkhkljZ^Zgb_d g_kqZklgufex^yfd [hevguf `b\hlguf kihkh[gZ ^h\_klb lZdh]h q_eh\_dZ ^h hlqZygby Ih ih\h^m e_]dh ihijZ\bfhcg_m^Zqbe_]dh]hjZahqZjh\Zgbydhlhjh_^jm]bfgZaZ\ljZm`_[ueh[uaZ[ulhwd aZevlbjh\Zggucq_eh\_dfh`_lbkiulu\Zlvbkdj_gg__b ]em[hdh_]hj_DZdmxgb[m^vjy^h\mx g_ijbylghklv ^jm]Z hg hsmsZ_l [he_ag_gg__ q_f kZf ihkljZ^Z\rbc KljZo m ex^_c k lZdbf l_fi_jZf_glhf h[eZ^Z_l ih\b^bfhfm k\hckl\hf j_adh]h gZjZklZgby ihkdhevdm m`_ ijb g_agZqbl_evghf kljZo_ ho\Zlu\Zxs_f wdaZevlbjh\Zggmx gZlmjm aZf_lgu nbabheh]bq_kdb_ ijhy\e_gby ^jh`v oheh^guc ihl Z hlkx^Z b mkbe_gb_ ikbobq_kdbo j_Zdpbc Lhl nZdl qlh wdaZevlbjh\Zgghklvk\yaZgZk lhgdbfbb hq_gvq_eh\_qgufbwfhpbyfbh[tykgy_lihq_fmwlbf l_fi_jZf_glhf hkh[_ggh qZklh h[eZ^Zxl Zjlbklbq_kdb_ gZlmju ² om^h`gbdb ihwlu :jlbklbq_kdZyh^Zj_gghklvij_^klZ\ey_lkh[hcg_qlh\ dhjg_bgh_q_fgZmqgu_kihkh[ghklb\ hij_^_e_gghc h[eZklb gZijbf_j \ fZl_fZlbd_ < q_f aZdexqZ_lky ijbqbgZ ^Zggh]h y\e_gby" <hi_j\uoy iheZ]ZxqlhkZfZihk_[_h^Zj_gghklv_s_g_h[_ki_qb\Z_l\hafh`ghklbkha^Zgby ijhba\_^_gby bkdmkkl\Z LZdh_ ijhba\_^_gb_ jh`^Z_lky ebrv lh]^Z dh]^Z l\hj_p kihkh[_g d \ukhdhfm gZdZem wfhpbhgZevguo i_j_`b\Zgbc ?keb q_eh\_d h[eZ^Z_l ]em[hdbf mfhf b ijZdlbq_kdbf a^jZ\uf kfukehf lh gbqlh g_ ihf_rZ_l _fm jZa\b\Zlv k\hb fZl_fZlbq_kdb_ l_ogbq_kdb_ beb hj]ZgbaZpbhggu_ kihkh[ghklb Gh ijb ih^h[ghc jZamfghc ijZdlbq_kdhc mklZgh\d_ ^Zggh_ ebph g_ ibr_l klboh\ b g_ khqbgy_l fmaudm ohly _]h ijbjh^guo ^Zgguo o\Zlbeh [u gZ wlh <h\lhjuo wfhpbb kZfb ih k_[_ iha\heyxl kha^Z\Zlv \_jgh_ km`^_gb_ h \hagbdZxs_f ijhba\_^_gbb ^Z\Zlv _fm \_jgmx hp_gdm Mjh\_gv gZmdb baf_jy_lky __ ijbdeZ^guf agZq_gb_f p_gghklv `_ om^h`_kl\_ggh]h ijhba\_^_gby ihagZ_lky ebrv ih wfhpbhgZevghfm \ha^_ckl\bx Ba wlh]h ke_^m_l qlh g_hlt_fe_fuf k\hckl\hf ihwlZ beb om^h`gbdZ ij_`^_ \k_]h ^he`gZ [ulv wfhpbhgZevgZy \ha[m^bfhklv <lhjuf klbfmebjmxsbf fhf_glhf ^ey Zjlbklbq_kdhc gZlmju fh`_l [ulv gZebqb_ ^_fhgkljZlb\guo q_jl oZjZdl_jZ GZdhg_pk lj_lvbffhf_glhffuklhedg_fkyjZkkfZljb\Zybgljh\_jlbjh\Zgghklv Dhgnebdlu Zjlbklbq_kdbo gZlmj k `bagvx qZklh ijhbkoh^yl baaZ kebrdhf [hevrhc qm\kl\bl_evghklb ©ijhaZª `bagb __ ih^qZk ]jm[u_ lj_[h\Zgby bf g_ ih ie_qm GZijbf_j ba[ulhd qm\kl\ m =_ev^_jebgZ klbfmebjh\Ze _]h ihwlbq_kdh_ l\hjq_kl\h gh h^gh\j_f_ggh g_ ^Z\Ze ijbkihkh[blvky d ih\k_^g_\guf `bag_gguf lj_[h\Zgbyf <hafh`gh _]h ihklhyggZy wfhlb\gZy \ha[m^bfhklv ghkbeZ [he_ag_gguc oZjZdl_j lZd dZd \h \lhjhc iheh\bg_ `bagb m g_]hjZa\behkvly`_eh_ikbobq_kdh_aZ[he_\Zgb_fhyjZ[hlZgZ^Zggmxl_fmba^ZgZ\ ] =_ev^_jebg\kx`bagv[hevr_kljZ^Ze q_f bkiulu\Ze ihju\u \hklhj`_gghc jZ^hklbgh wlh [ueh k\yaZgh k [hevrbfb `bag_ggufb ljm^ghklyfb dhlhju_ _fm ijbrehkv bkiulZlv baaZ qj_af_jghcqm\kl\bl_evghklbD gZqZem^mr_\gh]haZ[he_\ZgbywlZbkdexqbl_evgZywfhlb\gZy \ha[m^bfhklv_s_\hajhkeZ< ibkvf_d <EZg]_hgibr_l©Ih\_jvfg_^hjh]hcY [hjheky^h kf_jl_evgh]h bag_fh`_gby qlh[u khojZgblv \ukrmx `bagv \ \_j_ b \ kha_jpZgbb h ^Z Y [hjheky kljZ^Zy g_\ujZabfh b iheZ]Zx qlh fmq_gby fhb ij_\urZxl \k_ dh]^Zeb[h bkiulZggh_q_eh\_dhfª< ih^h[guo`bag_gguo]bi_j[heZofug_lhevdhmagZ_f=_ev^_jebgZ ghh^gh\j_f_gghihemqZ_fij_^klZ\e_gb_h kbe_bfimevkh\dhlhjufb\ha[m^bfhklviblZeZ_]h ihwlbq_kdh_\^hogh\_gb_<u^Zxsbckyg_f_pdbcebjbdijb\_^_gfghxdZdijbf_j Ih^h[guf `_ h[jZahf ohly \hafh`gh b g_ \ lZdhc kl_i_gb wfhlb\gZy \ha[m^bfhklv y\ey_lky[Zahckha^Zgbyom^h`_kl\_gguoijhba\_^_gbcm fgh]boZjlbklbq_kdbogZlmj>h[Z\bf d wlhfmaZdhghf_jgh_klj_fe_gb_om^h`gbdZhljZablv\ k\h_fl\hjq_kl\_lhqlh_]hlZdkbevgh b ]em[hdhaZo\Zlu\Z_lG_]Zlb\gucihexkZnn_dlb\ghwdaZevlbjh\Zggh]hl_fi_jZf_glZfh`gh gZ[ex^ZlvgZke_^mxs_fijbf_j_ DeZmk W ] jh`^ FZlv ² wdaZevlbjh\ZggZy `_gsbgZ ^ey dhlhjhc oZjZdl_jgh k h^ghc klhjhgu qm\kl\h \hklhj`_gghklb k ^jm]hc ² ih^\_j`_gghklv i_qZevguf i_j_`b\Zgbyf < ^_lkl\_ W [hyeky l_fghlu < l_fghl_ _fm ihklhyggh dZaZehkv qlh dlhlh klhblaZkibghc²hgh]ey^u\Zekyb [ukljhm[_]Zek_j^p__]h[_r_ghdhehlbehkvWlh[ue fheqZeb\ucaZfdgmlucq_eh\_dg_ex[b\rbc\uklmiZlvim[ebqghijbwlhfhgl_jye]hehkb kbevgh ihl_e W g_ \ughkbe dh]^Z ijb g_f [beb `b\hlguo bkiulu\Ze ijb wlhf ©s_fysmx lhkdmª gh lZd dZd _]h ©^mrbeh \heg_gb_ª g_ fh] ijhbag_klb gb a\mdZ \ aZsblm [_^gh]h q_l\_jhgh]h]h ?]h aZo\Zlu\Zxl jZaebqgu_ lhj`_kl\_ggu_ f_jhijbylby ©Dh]^Z bkihegyxlky lhj`_kl\_ggu_ ]bfgu y ijyfh [hxkv aZieZdZlv \k_ hl jZkljh]Zgghklbª G_qlh ih^h[gh_ W bkiulu\Z_lb \h\j_fyihk_s_gbcl_ZljZH^gZdhkZfb]jZlvhgg_fh`_lb gbdh]^Zg_fh]m g_]hgZqbgZ_lky©kp_gbq_kdZyebohjZ^dZªb lhqgh©dhf\ ]hje_klhblªHghq_gvex[blfmaudm g_`gmx ebjbq_kdmx ih^h[gmx ©=j_aZfª RmfZgZ gh b ohj ba ©E_lmq_]h ]heeZg^pZª _fm gjZ\blky< e_lhgihklmibe\ \mak m\e_q_gb_faZgbfZeky]h^Zihke_q_]hgZklmibekju\ WaZ[he_eFZlvihkeZeZ_fmagZqbl_evgmxkmffmgZihdmidmijh^mdlh\ghhgih^^Z\rbkvgZ m]h\hju lh\Zjbs_c jZkljZlbe \k_ wlb ^_gv]bgZ kibjlgh_b mkljhbe ibjmrdm ©;h] fhc ^Z y \_^vbakZfuo^jm`_kdboqm\kl\gZ^h`_ihfh]Zlv^jm]^jm]mªWlhlkemqZcihkem`begZqZehf L_i_jv ihke_ \kydbo f_edbo g_m^Zq qZklh \uau\Zxsbo m W kbevgh_ m]g_l_gb_ hg \k_ qZs_ \uib\Z_lIhwlhfmih\h^md gZfb h[jZlbeZkv_]hfZlv Fh`gh kdZaZlv qlh \ oZjZdl_j_ ^Zggh]h h[ke_^m_fh]h ij_h[eZ^Z_l ©]hlh\ghklv d hlqZygbxª M`_ j_[_gdhf hg qZklh gZoh^beky \h \eZklb ]jmklguo b lj_\h`guo i_j_`b\Zgbc Iha`_ hg \k_ qZs_ klZe ijboh^blv \ hlqZygb_ dh]^Z g_ fh] q_]hgb[m^v ^h[blvky qZklh bf h\eZ^_\Ze kljZo Lh qlh wlb dhe_[Zgby [ueb k\yaZgu k lbibqguf l_fi_jZf_glhf lj_\h]b b kqZklvy ih^l\_j`^Z_lky mfbe_gb_f W ijb \kydbo lhj`_kl\_gguo f_jhijbylbyo \ ^Zgghf kemqZ_ wlh khklhygb_ kbf\hebabjm_l qm\kl\h kqZklvy Z ke_au _]h \ wlhl fhf_gl ² wlh ke_au kqZklvy Ihwlu b om^h`gbdb qZklh hlebqZxlky wdaZevlbjh\Zgguf l_fi_jZf_glhf h q_f k\b^_l_evkl\mxlijb\h^bfu_gb`_ijbf_ju FZjlbgJ]jh`^ihwlebjbd< e_lg_f\hajZkl_dh]^Zhgy\bekygZijb_fdh fg_ hg [hevr_ aZgbfZeky i_j_\h^Zfb klboh\ k bghkljZgguo yaudh\ J hlebqZeky fmaudZevgufb kihkh[ghklyfb b klbob k\hb hg kdhj__ \hkijbgbfZe ©dZd i_kgbª G_dhlhjh_ \j_fy hg aZgbfZeky j_deZfgufb ieZdZlZfb GZ \k_c _]h `bagb e_`bl hli_qZlhd [mjguo wfhpbhgZevguoi_j_`b\Zgbcb \heg_gbcJk ^_lkl\Z[uem\e_dZxs_ckygZlmjhc\ rdhe_hg ijbgbfZeZdlb\gh_mqZklb_\ h[s_kl\_gghcjZ[hl_H^gZ`^u^_ehqmlvg_^hreh^hrdhevghc aZ[Zklh\dbhj]Zgbah\ZgghcJdZdijhl_klijhlb\h^gh]hls_keZ\gh]hb g_l_jibfh]hmqbl_ey Iha`_ m\e_q_gby \ hkgh\ghf dZkZebkv fmaudb ihwabb b djZkb\uo `_gsbg K\hx gug_rgxx `_gmJiZl_lbq_kdbh[jbkh\ZedZd©qm^h`_gsbgmª>eyJoZjZdl_jguihklhyggu_dhe_[Zgby f_`^m\hh^mr_\e_gb_fb djZcgbfi_kkbfbafhfijbimklydh\uog_m^ZqZo < ihke_^g_f kemqZ_ m g_]h ihy\eyebkv b kmbpb^Zevgu_ fukeb GZ \klj_qm k gZfb J ijbr_em]g_l_ggucihq_qgZydhebdZgZ\_eZ_]hgZfukevh lhfqlhm g_]hjZd J ² lbibqguc ebjbd < ^Zgghf kemqZ_ bgl_j_kgh lh qlh ihju\u hlqZygby k\yaZgu k fukeyfb h kZfhm[bckl\_ I_j_oh`m d oZjZdl_jbklbd_ ebqghklb om^h`gbpu hibkZgghc jZg__ Ljhklhjnn :^_e_ = ] jh`^ fZlv bf[_pbevgh]h j_[_gdZ dhlhjuc bf_ggh \ke_^kl\b_ k\h_]h aZ[he_\ZgbyklZe__ ex[bfp_fHgZkZfhhl\_j`_gghmoZ`b\Z_laZgbf=`b\_ljZ^b[hevgh]h kugZb jZ^b bkdmkkl\Z HgZ m\e_dZ_lky \k_fij_djZkgufª Ijb i_j\hf k\h_f \babl_ _c[ueh lh]^Z]h^ZhgZaZy\beZf_qlZl_evgh©IbkZlvdZjlbgu²\_ebqZcrZy^eyf_gyjZ^hklvY g_ fh]mg_ibkZlvboªDjZkhlZijbjh^ukem`beZdZd[ugZkljh_fb __gZqbgZehlygmlvd dbklb ©Y ibrmebrvfhlb\u\uau\Zxsb_\gmlj_ggxxjZ^hklvM f_gyihlj_[ghklvbaeblv\ djZkdZo hsms_gb_ kqZklvy dhlhjh_ ^Z_l fg_ ijbjh^Z Dh]^Z y b^m ih em]m beb ih e_km lh qm\kl\mx g_kdZaZggh_kqZklv_B ^mfZx©<hlwlhij_djZkghwlhlugZibrb ªKqZklvy[_a`b\hibkb^ey f_gy g_ kms_kl\m_lª Dh]^Z __ kijhkbeb ihq_fm hgZ lZd klZjZ_lky \_^v hgZ gbdh]^Z k\hb dZjlbgg_\uklZ\ey_lhgZhl\_lbeZ©Y g_klZ\exk_[_wlhcp_ebK f_gy^hklZlhqghkhagZgby qlh y fh]m gZjbkh\Zlv wlhª Bgl_j_kgh b lZdh_ __ \ukdZau\Zgb_ ©Dh]^Z y \b`m p\_lhd fg_ ohq_lkyijhgbdgmlv\ _]hkmsghklv<hlgZijbf_jdZe_g^meZ²kdhevdhjZ^hklbbaemqZxlwlb e_i_kldb[eZ]h^Zjybo`_elhfmkbygbx ªBeb\hl_s_©Ljm^ghgZjbkh\Zlvq_eh\_q_kdh_ebph <k_ohq_rvm]Z^ZlvaZ\g_rgbfbhq_jlZgbyfb\ujZ`_gb_kZfhc^mrbª Kihkh[ghklvx bkiulu\Zlv h]jhfgh_ \hh^mr_\e_gb_ h[tykgy_lky lhl nZdl qlh = hl^Z\ZeZkv `b\hibkb l\hjq_kl\m k [hevrbf \^hogh\_gb_f <lhjhc ihexk ij_^klZ\e_g m g__ ljh]Zl_evghc aZ[hlhc h kug_ ]em[hdbf khkljZ^Zgb_f d wlhfm keZ[hmfghfm j_[_gdm Ke_^mxsbcijbf_jjZg__hibkZggucAZc]_ FZjlbgPe_lk ^_lkl\Z[uefmaudZe_ghohlghi_eIhhdhgqZgbbkj_^g_crdheuklZe mq_gbdhf ke_kZjy <h \j_fy h^ghc jZ^bhi_j_^Zqb m g_]h g_h`b^Zggh [ueb h[gZjm`_gu i_\q_kdb_^Zggu_HgklZe[jZlvmjhdbi_gbyZ aZl_fgZqZe\uklmiZlvk wkljZ^gufhjd_kljhf Ih_lhggZjZ^bhb l_e_\b^_gbb\ jZa\e_dZl_evguoijh]jZffZoghf_qlZ_lmqZkl\h\Zlv\ j_\x b \fxabdeZolZddZd_]hbgl_j_km_l g_ lhevdh i_gb_ gh b Zjlbklbq_kdh_hnhjfe_gb_ M`_ b k_cqZk P iulZ_lky khijh\h`^Zlv i_gb_ \ujZabl_evghc fbfbdhc `_klZfb H[ke_^m_fuc oZjZdl_jbam_lk_[ydZdq_eh\_dZ\_kvfZl_fi_jZf_glgh]hHg[ukljh\hh^mr_\ey_lkyb \lZdb_ fbgmlu qm\kl\m_l k_[y ©k\_jokqZkleb\ufª Gh lZd `_ [ukljh hg fh`_l \iZklv \ ]em[hdmx f_eZgohebx beb \ khklhygb_ lj_\h]b \ lZdb_ fhf_glu hg [ebahd d hlqZygbx D mjZ\gh\_r_gghfm khklhygbx hg \ha\jZsZ_lky ih^ \ebygb_f `_gu < h[s_f m P ij_h[eZ^Z_l ih\ur_ggh_ gZkljh_gb_ hg kqblZ_l k_[y hilbfbklhf hl jZ^hklb ]hlh\ bgh]^Z ©gZ klhe_ lZgp_\ZlvªPg_ljm^ghih]jmablvky\ gZkljh_gb_dhlhjh]hlj_[m_lwkljZ^gucghf_jb lh]^Z _]hbkiheg_gb_ihemqZ_lkyhq_gvm[_^bl_evgufHgq_klhex[b\ghkijZ\_^eb\g_aehiZfyl_g b g_ mf__l ihklhylv aZ k_[y H^gZ`^u P hq_gv \klj_\h`_gguc ijb[_`Ze d am[ghfm \jZqm dhlhjuc g_aZ^he]h ^h wlh]h ihklZ\be _fm ^\_ dhjhgdb ;heb g_ [ueh gh \hjhgdb ©[_amfgh f_rZxlªhgg_kfh`_lgbi_lvgb \uklmiZlvPm`_\b^_ek_[y[_ajZ[hlguf<jZqmkihdhbe P aZ qlh lhl [eZ]h^Zjbe _]h \ \_kvfZ \ukhdhiZjghf klbe_ Q_j_a g_kdhevdh ^g_c i_\_p khh[sbeqlhm g_]h\k_\ ihjy^d_ =em[hdZy\hklhj`_gghklvk\yaZggZym Pk ijhn_kkb_cwkljZ^gh]hi_\pZh[tykgy_lky_]h \ha[m^bfhklvx kdehgghklvx d wdaZevlZpbb KemqZc k dhjhgdZfb k\b^_l_evkl\m_l h eZ[bevghklb_]hikbobdbkhkdehgghklvxd qj_af_jghclj_\h]_ Lj_\h`gu_ [hyaeb\u_ebqghklb < ^_lkdhf\hajZkl_qm\kl\hkljZoZg_j_^dh^hklb]Z_ldjZcg_ckl_i_gb>_lblZdh]hkdeZ^Z h[eZ^Zxsb_ lj_\h`gh[hyaeb\uf l_fi_jZf_glhf [hylky gZijbf_j aZkuiZlv \ l_fghl_ beb dh]^Z \ ihf_s_gbb gbdh]h g_l aZoh^blv \ g_hk\_s_ggu_ dhfgZlu b dhjb^hju ;hylky kh[Zd Lj_i_sml i_j_^ ]jhahc GZdhg_p [hylky ^jm]bo ^_l_c ihwlhfm l_ bo qZklh ij_ke_^mxl b ^jZagyl Hgb g_ j_rZxlky aZsbsZlvky hl gZiZ^_gbc qlh dZd [u ijh\hpbjm_l ^jm]bo [he__ kbevguo b kf_euo ^_l_c ihba^_\Zlvky gZ^ k\hbf [hyaeb\uf lh\Zjbs_f m^Zjblv _]h Wlh ©dhaeuhlims_gbyªdZdboh[uqghgZau\Zxlbeb ©fbr_gbª dZdij_^eh`be[ubogZa\Zlvy b[hhgbihklhyggh©\uau\Zxlh]hgvgZk_[yªEx[hiulghqlhk\_jklgbdbkjZamjZkihagZxlbo keZ[h_ f_klh ?keb gZijbf_j j_[_ghd©fbr_gvª ihklmiZ_l \ ^_lkdh_ ikbobZljbq_kdh_ hl^_e_gb_ lh b a^_kv klhbl ebrv \hkiblZl_evgbp_ hl\_jgmlvky _]h kjZam `_ gZqbgZxl ©ij_ke_^h\Zlvª LZdb_ ^_lb bkiulu\Zxl kbevguc kljZo i_j_^ mqbl_eyfb dhlhju_ wlh]h d kh`Ze_gbx qZklh g_ aZf_qZxl mkm]m[eyy kljZo j_[_gdZ k\h_c kljh]hklvx Bgh]^Z ^_lb ijb hq_j_^ghcrZehklbk\Zeb\Zxl\bgmgZ[hyaeb\h]hj_[_gdZdhlhjuc^_ckl\bl_evghklZgh\blky ©dhaehf hlims_gbyª M \ajhkeuo dZjlbgZ g_kdhevdh bgZy kljZo g_ klhev ihegh ih]ehsZ_l \ajhkeh]hdZdj_[_gdZHdjm`Zxsb_ex^bg_ij_^klZ\eyxlkybfm]jh`ZxsbfbdZd\ ^_lkl\_ Z ihwlhfm bo lj_\h`ghklv g_ lZd [jhkZ_lky \ ]eZaZ <ijhq_f g_kihkh[ghklv hlklhylv k\hx ihabpbx \ kihj_ hklZ_lky >hklZlhqgh ijhlb\gbdm \uklmiblv ihwg_j]bqg__ dZd ex^b k lj_\h`gh[hyaeb\uf l_fi_jZf_glhf klmr_\u\Zxlky Ihwlhfm lZdb_ ex^b hlebqZxlky jh[hklvx\ dhlhjhcqm\kl\m_lky we_f_gl ihdhjghklb mgb`_gghklb GZjy^m k wlbf jZaebqZxl _s_ZgZgdZklbq_kdmxjh[hklvki_pbnbdhcdhlhjhcy\ey_lky\gmlj_ggyyg_m\_j_gghklv\ k_[_ < i_j\hfkemqZ_q_eh\_dihklhygghgZklhjh`_i_j_^\g_rgbfbjZa^jZ`bl_eyfb\h\lhjhf² bklhqgbdhfjh[hklbkem`blkh[kl\_ggh_ih\_^_gb_q_eh\_dZbf_gghhgh\k_\j_fygZoh^blky\ p_glj__]h\gbfZgbyWlb^\ZlbiZjh[hklbfh`gh^bnn_j_gpbjh\ZlvijbijhklhfgZ[ex^_gbb < h[hbo kemqZyo \hafh`gZ k\_jodhfi_gkZpby \ \b^_ kZfhm\_j_ggh]h beb ^Z`_ ^_jadh]h ih\_^_gby h^gZdh g__kl_kl\_gghklv _]h kjZam [jhkZ_lky \ ]eZaZ ;hyaeb\Zy jh[hklv fh`_l bgh]^Z i_j_clb \ ^h\_jqb\hklv \ dhlhjhc kd\habl ijhkv[Z ©;m^vl_ kh fghc ^jm`_ex[guª <j_f_gZfb d jh[hklb ijbkh_^bgy_lky im]eb\hklv dhlhjZy fh`_l bf_lv qbklh j_ne_dlhjguc oZjZdl_jghfh`_l[ulvb ijhy\e_gb_f\g_aZigh]hkljZoZQ_fyjq_\ujZ`_gZim]eb\hklvl_f [he__\_jhylgZkhijh\h`^ZxsZy__ ih\ur_ggZy\ha[m^bfhklv\_]_lZlb\ghcg_j\ghckbkl_fu mkbeb\ZxsZy khfZlbq_kdmx j_Zdpbx kljZoZ dhlhjZy q_j_a kbkl_fm bgg_j\Zpbb k_j^pZ fh`_l k^_eZlv kljZo _s_ [he__ bgl_gkb\guf Ijb\h`m hibkZgb_ j_[_gdZ mihfbgZ\r_]hky jZg__ P_ee_jhf Wdd_oZj^J]jh`^ihklmibe\ gZr_^_lkdh_hl^_e_gb_ \ ] B m fZl_jb b m hlpZ[jZdhldhlhjh]hjh^bekyWdd_oZj^m`_lj_lbcihwlhfmm fZevqbdZk\h^guo[jZlv_\b k_kl_j?]hjh^ghck_klj_]h^ZDjhf_lh]hk gbfb`b\ml^\h_k\h^guo^_l_cM hlpZqZklh [u\Z_l^mjgh_jZkiheh`_gb_^moZJh^bl_ebihklhygghjm]Zxl^_l_cqZklh[vxlboHkh[_ggh ihiZ^Zeh Wdd_oZj^m aZ iehob_ hlf_ldb \ rdhe_ ?]h ba[b\Zeb b k\h^gu_ [jZlvy b k_klju ijbq_fhq_gv`_klhdhWdd_oZj^[hyeky\k_ohgk m`Zkhf\kihfbgZ_lh l_e_kguogZdZaZgbyo dhlhjuf _]h ih^\_j]ZeZ fZlv H^ghfm ba k\h^guo [jZlv_\ hg \k_]^Z mklmiZe lZd dZd lhl [ue _^bgkl\_gguflh\Zjbs_f_]h^_lkdbob]j>_lbkh\k_chdjm]bij_ke_^h\ZebWdd_oZj^ZdjbqZ _fm \ke_^ ©;blucª Hg ba[_]Ze k\_jklgbdh\ b]jZe [hevr_ kh k\h_c kh[Zqdhc ;hyaeb\hklvx Wdd_oZj^hlebqZeky_s_\ ^hrdhevghf\hajZkl_aZkuiZelhevdhijbk\_l_hq_gv[hyeky]jhau ihghqZfqZklhfhqbeky\ ihkl_ev< rdhe_fZevqbdkjZamklZe©dhaehfhlims_gbyªLh\Zjbs_c \ deZkk_m g_]hg_[uehgZi_j_f_gZohgklZjZekymclbih^Zevr_hl^_l_cIhqlbdZ`^uc^_gv ^_lbgZ^gbfba^_\Zebkvba[b\Zeb_]hZ hg^Z`_g_aZsbsZeky?]hgZau\Zeb©deydkZieZdkZª Ihghr_ggZyh^_`^ZWdd_oZj^ZlZd`_\uau\ZeZgZkf_rdbBgh]^Zhg`Zeh\ZekygZfZevqbr_d mqbl_evgbp_ghlhevdhk ]eZamgZ]eZaIhkl_i_gghWdd_oZj^gZqZedjb\eylvkyb ]jbfZkgbqZlv gZ mjhdZo hq_\b^gh k p_evx ijb\e_qv d k_[_ \gbfZgb_ < gZr_f ^_lkdhf hl^_e_gbb kljZo khijh\h`^Ze_]hihklhygghhg[hyeky y h[ke_^h\Zgbc b rijbpZ H^gZdh \h \j_fy [_k_^[ue ihgyleb\uf g_ ih ]h^Zf khh[jZabl_evguf Ih fZe_cr_fm ih\h^m hg ju^Ze ijboh^be \ hlqZygb_ b kjZam ijylZeky \ dZdhfgb[m^v m]em >Z`_ \h kg_ hg \b^_e dZd _]h ^jZagyl b ba[b\Zxl < ^_lkdhf dhee_dlb\_ Wdd_oZj^ g_ ijhy\eye Z^ZilZpbhgghc kihkh[ghklb bgh]^Z \udb^u\Zedehmgkdb_\uoh^dbdZaZekyg_kh\k_fghjfZevguf>_lbg_ohl_eb_]h©ijbgylvª Ijb bkke_^h\Zgbb bgl_ee_dlZ Wdd_oZj^ g_kfhljy gZ ghjfZevgu_ mfkl\_ggu_ kihkh[ghklb ijhy\be bkdexqbl_evgh_ g_\_jb_ \ k\hb kbeu Ijb j_r_gbb aZ^Zq hq_gv klZjZeky gh \k_ \Zebehkv m g_]h ba jmd DZd lhevdh \klj_qZeZkv imklydh\Zy ljm^ghklv hg ju^Zy hldZau\Zeky ijh^he`Zlvk\hbmkbeby G_khfg_ggh`_klhdh_h[jZs_gb_b \ajhkeuob ^_l_caZim]Zehwlh]hj_[_gdZGh^_ehg_ ^hreh [u ^h klhev k_jv_agh]h khklhygby _keb [u fZevqbd h[eZ^Ze ohly [u fbgbfZevghc kihkh[ghklvx [hjhlvky b khijhlb\eylvky < kemqZyo ih^h[guo hibkZgghfm [_kihfhsghklv y\eyxsZyky ijyfuf ke_^kl\b_f kljZoZ ijh\hpbjm_l ^_l_c gZ Z]j_kkb\gu_ \uoh^db ihjh`^Zxsb__s_[hevrmxaZim]Zgghklv[hyaeb\h]hj_[_gdZD kh`Ze_gbxb \ajhkeu_qZklh kdehgyxlkyd lhfmqlh[uhkh[_gghkmjh\hh[jZsZlvkyk ^_lvfbg_kihkh[gufbd ijhl_klm< kemqZ_k Wdd_oZj^hfjh^bl_eb\ iuemk\hbokihjh\qZklhgZiZ^ZebgZkugZdhlhjuc[ueijb wlhf kh\_jr_ggh [_ajhihl_g Ke_^m_l hlf_lblv qlh lj_\h`ghklv khijh\h`^ZxsZy Zdp_glmZpbx i_^Zglbq_kdh]h lbiZ m \ajhkeuo ^_eZ_lky _s_ [he__ hlq_leb\hc bklbggZy `_ lj_\h`ghklv ih f_j_ ih\ajhke_gby q_eh\_dZ mf_gvrZ_lky Lj_\h`gu_ ebqghklb gm`^Zxlky \ ikbohl_jZibbh q_fg_ke_^m_laZ[u\Zlv Gb`_ ijb\h^blky hibkZgb_ `_gsbgu klZ\r_c bihohg^jbdhf gZ ihq\_ [hyaeb\hklb lj_\h`ghklb Bg]ZW]jh`^jZ[hlZ_l\ lhj]h\hfij_^ijbylbbK ^_lkl\Zqj_a\uqZcgh[hyaeb\Z ;hblkyl_fghlu\ kmf_jdbij_^ihqblZ_lkb^_lv^hfZDh]^Zh^gZ`^u\_q_jhfW\ha\jZsZeZkv ^hfhc m g__ ihy\beZkv gZ\yaqb\Zy fukev qlh aZ g_c f_^e_ggh ke_^m_l dZdZylh e_]dh\Zy fZrbgZHgZij_^klZ\beZk_[_dZdbafZrbgu\ukdhqblq_eh\_db gZiZ^_lgZg__ihwlhfmg_ \hreZ\ ih^t_a^Z hklZeZkvgZmebp_©ih[eb`_d i_r_oh^ZfªA\hgdhf\ua\ZeZk\h_]hfm`Z dhlhjuc kimklbeky \ \_klb[xev b ijb\_e __ ^hfhc W [_amfgh [hblky ]jhau ©<k_ \h fg_ k`bfZ_lkyª ² ]h\hjbl hgZ Ba[_]Z_l kh[Zd Dh]^Z W mkeurZeZ qlh \ [eb`g_f e_km \h^ylky af_b hgZ i_j_klZeZ lm^Z oh^blv ?keb `_ _c \k_lZdb ijboh^behkv lZf [u\Zlv lh hgZ g_ij_ju\gh hklZgZ\eb\ZeZkv km^hjh`gh k^\bgm\ gh]bb ]ey^y i_j_^ kh[hc qlh[u magZlv g_l eb ih[ebahklb ]Z^xd Bgh]^Z W ijhkuiZ_lky ghqvx h[eb\Zykv oheh^guc ihlhf hl kljZoZ [m^bl k\h_]h fm`Z h`b^Zy mkihdZb\Zxsbo keh\ HgZ bkiulu\Z_l [hevrmx jh[hklv k g_agZdhfufb ex^vfb b klZjZ_lky aZ\h^blv ihf_gvr_ agZdhfkl\ < k\h_f fm`_ hgZ \b^bl aZsblgbdZ < ] \ ^hf_ \ dhlhjhf ijh`b\ZeZ W ih g_hklhjh`ghklb h^gh]h ba khk_^_c ijhbahreh fZkkh\h_ hljZ\e_gb_`bevph\ ]Zahf K l_oihj __ lj_\h`ghklv \hajhkeZ < ] hgZ h^gZ`^u ih ^hjh]_ ^hfhc ihqm\kl\h\ZeZ k_[y iehoh \ky ihdjueZkv bkiZjbghc gZqZehkv kbevgh_ k_j^p_[b_gb_ DZd jZa \ wlhl i_jbh^ gZ jZ[hl_ m W ^\h_ khljm^gbdh\ mf_jeb hl bgnZjdlZfbhdZj^ZIhke_wlh]hm [hevghcgZqZekybihohg^jbq_kdbcg_\jhaW[hyeZkvly`_eh aZ[he_lv b mf_j_lv Kf_jlb hgZ kljZrbeZkv \k_]^Z l_i_jv wlhl kljZo ^hr_e ^h lh]h qlh hgZ \hh[s_[hyeZkv\uclbgZmebpm©Fh`_lgZqZlvkyk_j^_qgucijbklmiy miZ^mb m`_g_\klZgmª < debgbd_W[hyeZkv\k_o\jZq_[guof_jhijbylbc^jh`ZeZgZijbf_jdh]^Zm g__[jZebdjh\v gZ bkke_^h\Zgb_ h^gZdh ijb\udgm\ h[gZjm`beZ ohjhrmx ijbkihkh[ey_fhklv GZf m^Zehkv ba[Z\blv__ hlnh[bq_kdboijhy\e_gbckljZoZh^gZdhlj_\h`ghklvm WhklZeZkv HibkZggZy h[ke_^m_fZy k ^_lkl\Z kljZ^Z_l y\e_gbyfb ly`_eh]h kljZoZ >Z`_ gbqlh`gZy ij_^iheZ]Z_fZy hiZkghklv \uau\ZeZ m g__ ihljyk_gb_ GZ ihq\_ lj_\h`ghklb jZa\beky bihohg^jbq_kdbc g_\jha Ijbqbgu _]h ihy\e_gby ² kf_jlv hl bgnZjdlZ fbhdZj^Z ^\mo khljm^gbdh\Wb ijbklmikbevgh]hk_j^p_[b_gbykhijh\h`^Zxs_]hkybkiZjbghcK ihfhsvx ikbohl_jZibb gZf m^Zehkv hdZaZlv \ha^_ckl\b_ gZ iZlheh]bq_kdh_ jZa\blb_ nh[bb ij_djZlbebkvh^gZdhlj_\h`ghklvhklZeZkv Wfhlb\gu_ebqghklb Wfhlb\ghklv oZjZdl_jbam_lky qm\kl\bl_evghklvx b ]em[hdbfb j_Zdpbyfb \ h[eZklb lhgdbo wfhpbc G_ ]jm[u_ qm\kl\Z \hegmxl wlbo ex^_c Z l_ qlh fu k\yau\Z_f k ^mrhc k ]mfZgghklvx b hlau\qb\hklvx K ih^h[gufb j_Zdpbyfb fu m`_ \_lj_qZebkv hibku\Zy Znn_dlb\ghwdaZevlbjh\Zgguc l_fi_jZf_gl y\gh jh^kl\_gguc wfhlb\ghfm Gh wfhlb\gu_ ebqghklbg_\iZ^Zxl\ lZdb_djZcghklb\ h[eZklbwfhpbcdZdZnn_dlb\ghwdaZevlbjh\Zggu_ wfhpbbbojZa\b\Zxlkyk f_gvr_c[ukljhlhc:nn_dlb\ghwdaZevlbjh\Zgguoebqghkl_cfh`gh hoZjZdl_jbah\Zlv keh\Zfb ©[mjguc ihju\bkluc \ha[m`^_ggucª wfhlb\guo ² ©qm\kl\bl_evguc \i_qZlebl_evgucª H[uqgh ex^_c wlh]h l_fi_jZf_glZ gZau\Zxl fy]dhk_j^_qgufb Hgb [he__ `Zehkleb\u q_f ^jm]b_ [hevr_ ih^^Zxlky jZkljh]Zgghklb bkiulu\Zxl hkh[mx jZ^hklv hl h[s_gby k ijbjh^hc k ijhba\_^_gbyfb bkdmkkl\Z Bgh]^Z bo oZjZdl_jbamxldZdex^_caZ^mr_\guoFy]dhk_j^_qb_aZ^mr_\ghklvex^_cwlh]hlbiZk\yaZgu k mkbe_gguf \g_rgbf ijhy\e_gb_f bo j_Zdpbc < [_k_^_ k wfhlb\gufb ebqghklyfb kjZam \b^ghdZd]em[hdhboaZo\Zlu\Zxlqm\kl\Zh dhlhjuohgb]h\hjylihkdhevdm\k_wlhhlq_leb\h hljZ`Z_l fbfbdZ Hkh[_ggh oZjZdl_jgZ ^ey gbo ke_aeb\hklv hgb ieZqml jZkkdZau\Zy h dbghnbevf_ k i_qZevguf dhgphf h ]jmklghc ih\_klb LZd `_ e_]dh m gbo ihy\eyxlky ke_au jZ^hklb jZkljh]Zgghklb Wfhlb\guf ^_lyf g_j_^dh g_evay qblZlv kdZadb lZd dZd ijb i_qZevguo ih\hjhlZo kx`_lZ hgb kjZam `_ gZqbgZxl ieZdZlv >Z`_ fm`qbgu qZklh g_ fh]ml m^_j`Zlvkyhlke_a\ q_fijbagZxlkyk g_fZeufkfms_gb_f Hkh[Zy qm\kl\bl_evghklv gZlmju \_^_l d lhfm qlh ^mr_\gu_ ihljyk_gby hdZau\Zxl gZ lZdbo ex^_c [he_ag_ggh ]em[hdh_ \ha^_ckl\b_ b \uau\Zxl j_Zdlb\gmx ^_ij_kkbx Bgh]^Z dh]^Z ^mr_\guc jZaeZ^ ^hklb]Z_l iZlheh]bq_kdhc kl_i_gb \hafh`gu ihiuldb kZfhm[bckl\Z H^gZdhijbwlhfiZlheh]byjZa\b\Z_lkyg_kdhevdhbgufiml_fq_fijbj_Zdlb\guo^_ij_kkbyo m ^bklbfbq_kdbobebpbdehlbfbq_kdboebqghkl_cm dhlhjuolhbebbgh_i_j_`b\Zgb_dZd[u ©jZa\_jlu\Z_lª aZeh`_ggmx \ q_eh\_d_ hl ijbjh^u ]hlh\ghklv d ^_ij_kkbb Wlh fh`_l ijhbahclb b [_a hkh[h ly`_euo m^Zjh\ km^v[u g_j_^dh lZdh_ khklhygb_ \uau\Z_lky ebrv kemqZcguf ih\h^hf ijb\h^ysbf \ ^_ckl\b_ g_dbc f_oZgbaf M wfhlb\guo `_ ebqghkl_c ly`_klv ^_ij_kkbb \k_]^Z khhl\_lkl\m_l ly`_klb kh[ulby i_j_`b\Zgby M gbo hlkmlkl\m_l ij_^jZkiheh`_gb_d ^_ij_kkb\gufj_ZdpbyfHgbe_]dhih^^Zxlkyb jZ^hklbijbq_fjZ^hklv lZd`_ aZo\Zlu\Z_l bo ]em[`_ q_f ^jm]bo ex^_c A^_kv fu klZedb\Z_fky k \Z`guf jZaebqb_f f_`^m wfhlb\guf b pbdehlbfbq_kdbf j_Z]bjh\Zgb_f < h[hbo kemqZyo gZ[ex^Z_lky eZ[bevghklv wfhpbhgZevgh]h mjh\gy g_cljZevgh_ khklhygb_ k h^bgZdh\hc e_]dhklvx fh`_l i_j_clbb \jZ^hklvb \i_qZevH^gZdh\ kemqZ_pbdehlbfbbj_ZdpbyihoZjZdl_jmb ih]em[bg_ g_ijhqgh k\yaZgZ k i_j_`b\Zgb_f G_agZqbl_evguc mki_o fh`_l ijb\_klb lZdh]h q_eh\_dZ \ [mjguc \hklhj] Z imklyqgZy g_m^ZqZ ² \ ]em[hdh_ ^_ij_kkb\gh_ khklhygb_ DZd fu \b^_eb ij_[u\Zgb_ \ \_k_eh gZkljh_gghf h[s_kl\_ fh`_l g_j_^dh \ua\Zlv i_j\h_ Z ij_[u\Zgb_ k hi_qZe_ggufb kdmqgufb ex^vfb ² \lhjh_ khklhygb_ GZ wfhlb\gmx ebqghklv \ha ^_ckl\b_ hdZau\Z_l lhevdh kZfhi_j_`b\Zgb_ \uau\Zy Z[khexlgh Z^_d\Zlgmx wfhpbhgZevgmx j_Zdpbx [_a ij_oh^ysbo gZkljh_gbc Ihwlhfm q_eh\_d wfhlb\gh]h kdeZ^Z g_ fh`_l ©aZjZablvkyª \_k_ev_f\ \_k_ehfh[s_kl\_g_fh`_l[_kijbqbgghk^_eZlvkygb kf_reb\ufgbkqZkleb\uf Gb`_hibku\Z_lky`_gsbgZ\iZ\rZy\ j_Zdlb\gmx^_ij_kkbxihke_ihl_jbfm`Z =_jljm^ZXÄ]jh`^m[hjsbpZM`_\ ^_lkl\_[ueZ\i_qZlebl_evghcqZklhieZdZeZ gbdh]^Zg_fh]eZhldZaZlv\ ijhkv[_^jm]bf^_lyfDZdlhhgZih^ZjbeZ k\_jklgbp_ ex[bfmx b]jmrdm \ ^jm]hc jZa hl^ZeZ gbs_fm fZevqbdm _^bgkl\_ggmx dhgn_ldm Kbevgh ijb\yaZgZ d k_kljZf b [jZlvyf [_aml_rgh ju^ZeZ dh]^Z h^gZ ba feZ^rbo k_kljbq_d mf_jeZ Dj_idZy ijb\yaZgghklvd k_fv_khojZgbeZkvgZ\k_]^ZIhklmib\jZ[hlZlv^hfjZ[hlgbp_chgZk ljm^hf i_j_ghkbeZjZaemdmk [ebadbfb<ha\jZsZykv^hfhc\kydbcjZabkiulu\ZeZqm\kl\h]em[hdhc jZ^hklb <b^y ieZqms_]h j_[_gdZ g_ fh`_l m^_j`Zlvky hl ke_a QZkl_gvdh ieZq_l b \ dbgh Dh]^Z ih l_e_\bahjm ihdZau\Zxl kp_gu q_eh\_q_kdbo kljZ^Zgbc moh^bl ba dhfgZlu <ureZ aZfm`\ ]h^Z[ueZbkdexqbl_evghijb\yaZgZd fm`mFmqbl_evghi_j_g_keZ]h^ujZaemdbk fm`_f\h\j_fy\hcgu=hjyqhex[blk\hbo^\mo^_l_ckljZklghijb\yaZgZd \gmdm< ] fm`\ \hajZkl_e_l[_a\kydhc\b^bfhcijbqbguihdhgqbe`bagvkZfhm[bckl\hfG_aZ^he]h ^h wlh]h g_kdhevdh jZa ]h\hjbe qlh hg ©m`_ g_ jZ[hlhkihkh[_gª X [ueZ ]em[hdh ihljyk_gZ kf_jlvxfm`ZHgZg_fh]eZgb_klvgbkiZlv^mfZeZb kZfZh kZfhm[bckl\_ghfukevh ^_lyo __ hklZgZ\eb\ZeZ Ihklhyggh fmqbeZ k_[y mij_dZfb \b^gh hgZ g_^hklZlhqgh aZ[hlbeZkv h fm`_ \hl hg b mr_e hl g__ H[t_dlb\gh X gZijhlb\ [ueZ `_ghc qj_a\uqZcgh aZ[hleb\hc G_aZ^he]h^hdhgqbgufm`dZdlhkdZaZeqlh^jm]h]hlZdh]hq_klgh]hb ohjhr_]hq_eh\_dZdZd XgZk\_l_g_lDh]^ZXihklmibeZ\ debgbdmkh\j_f_gbkf_jlbfm`Zijhr_eihqlb]h^Ba aZ[_kkhggbpub hlkmlkl\byZii_lblZm g__jZa\beZkvj_adZyZkl_gbyhgZihom^_eZgZnmglh\ Klhbeh_cgZihfgblvh ihdhcghffm`_dZdhgZlhlqZkgZqbgZeZieZdZlvKe_auebebkvb lh]^Z dh]^Z k g_c ]h\hjbeb h ^jm]bo i_qZevguo kh[ulbyo __ `bagb < debgbd_ g_\jZkl_gbq_kdh_ khklhygb_ [hevghc m^Zehkv ij_h^he_lv \f_kl_ k gbf ijhreZ b ^_ij_kkby Gh hkljmx [hev ihl_jbX\k__s_hsmsZeZ I_j_^ gZfb lbibqgZy wfhlb\gZy ebqghklv dhlhjZy ex[h_ `bag_ggh_ kh[ulb_ \hkijbgbfZ_l k_jv_ag__ q_f ^jm]b_ ex^b Hkh[_ggh e_]dh hgZ ih^^Z_lky qm\kl\m `Zehklb khkljZ^Zgby Gh b jZ^hklgu_ qm\kl\Z hgZ i_j_`b\Z_l ]em[hdh hkh[_ggh jZ^hklb k\yaZggu_ k ^_lvfbbo\hkiblZgb_fmki_oZfbBkdexqbl_evghij_^ZgZk_fv_²kgZqZeZk_fv_jh^bl_e_c aZl_f k\h_c Kf_jlv fm`Z klZeZ ^ey X djZohf \k_c `bagb Ihl_jx mkm]m[eyeh l_jaZxs__ qm\kl\h\bgudZd`_wlhhgZmimklbeZg_aZf_lbeZ\_^vhgkljZ^ZeZ hgZlZdb g_ijbreZgZ ihfhsv M g__ ihy\eyebkv ^Z`_ fukeb h kZfhm[bckl\_ GZ wlhc ihq\_ gZqZeZkv hklj_crZy g_\jZkl_gby Bf_ggh ihwlhfm lZd ^he]h ijh^he`ZeZkv m X j_Zdlb\gZy ^_ij_kkby dhlhjZy h[uqgh ^Z`_ m wfhlb\guo ebqghkl_c ijhoh^bl [uklj__ D j_Zdlb\ghc ^_ij_kkbb [ebadb kemqZb dh]^Z fy]dhk_j^_qgu_ ebqghklb ih^ \ebygb_f kh[ulbc bkiulu\Zxl klhev hkljmx m]g_l_gghklv qlh l_jyxl kbem khijhlb\eylvky Ijhl_kl ijhlb\ gZiZ^hd ^jm]bo ex^_c beb dZdb_eb[h ^_ckl\by gZi_j_dhj km^v[_ ^ey gbo g_\hafh`gu baaZ gZebqby ^_ij_kkb\gh]h khklhygbyIjb\h`mhibkZgb_q_eh\_dZdhlhjucklZe©fbr_gvxªk\hbomq_gbdh\ O_evfmlD]jh`^m`_j_[_gdhf[ue[hyaeb\ihwlhfm^_lbqZklh_]h^jZagbebgh g_ [beb lZd dZd hg aZjZg__ ba[_]Ze wlh]h Hg bkdZe >jm`[u k ^_lvfb kihdhcgufb ex[be h^bghq_kl\hijbjh^m< ]jm[uorZehklyo^jm]bo^_l_cmqZklbyg_ijbgbfZeG_ijbylghklyfb ^_ebekyk fZl_jvxM`_ [m^mqb ih^jhkldhf hg gZr_e k\_jklgbdh\ dhlhju_ ih^h[gh _fm g_ ohl_eb ijbgbfZlv mqZklby \ ]jm[uo \uoh^dZo ex[beb kh\_jrZlv ijh]medb [_k_^h\Zeb h fmaud_ ihwabb KlZe ijhy\eylv [hevrhc bgl_j_k d `b\hibkb k m\e_q_gb_f aZgbfZeky \hijhkZfbk\yaZggufbk bkdmkkl\hf< rdhe_m gbo[uekljh]bcmqbl_evdhlhjuc[be^_l_c gh _]h wlb kljh]hklb fbgh\Zeb hkh[h]h kljZoZ hg g_ bkiulu\Ze H^gZdh hg qZklh ©ieZdZe aZ dhfiZgbxªdh]^Z[beb^jm]bo^_l_cqlh\uau\Zeh]g_\mqbl_ey< ^Zevg_cr_ck\h_c`bagbD hklZ\ZekylZdbf`_fy]dhk_j^_qgufQZklh]jmklgu_nbevfuih\_klb\uau\Zebm g_]hke_au Fgh]h e_l D jZ[hlZe dZjlh]jZnhf kqblZeky ohjhrbf jZ[hlgbdhf < ] k^Ze khhl\_lkl\mxsb_wdaZf_gub klZemqbl_e_fihdZjlh]jZnbb\ ijhnrdhe_< ]wlZrdheZ [ueZ ebd\b^bjh\ZgZ b hg gZqZe jZ[hlZlv mqbl_e_f \ h[s_h[jZah\Zl_evghc rdhe_ <kdhj_ \uykgbehkvqlhhgg_mf__lgZeZ^blv^bkpbiebgm\ deZkk_Hgg_lj_[h\ZeZ [hevr_ijhkbem mq_gbdh\ihkemrZgbymfheyebo\_klbk_[yih^h[Zxsbfh[jZahfZ deZkkhl\_qZegZwlh_s_ [hevr_c jZkims_gghklvx GZijbf_j ]_h]jZnbq_kdmx dZjlm mq_gbdb \u\_rb\Zeb \\_jo gh]Zfb ih\hjZqb\Zebkv d g_fm kibghc dh]^Z hg gZqbgZe h[tykgylv mjhd fgh]b_ mq_gbdb ijbgbfZebkvqblZlv\kemoBgh]^ZDl_jyel_ji_gb_bko\Zlb\mq_gbdZaZrb\hjhlljyk_]h H^bg fZevqbdijb wlhf gZjhqgh jZklygmeky gZ ihem b \ ^Zevg_cr_f ihklhyggh wlh ih\lhjye ih^ohohl\k_]hdeZkkZDqZklhijboh^be\ hlqZygb_ieZdZei_j_^mq_gbdZfb>bj_dlhjrdheu h[\bgbe _]h \ g_^bkpbiebgbjh\Zgghklb deZkkZ D [ue deZkkguf jmdh\h^bl_e_f G_dhlhju_ jh^bl_ebohl_ebih^Zlv`Zeh[mgZD\ km^aZlhqlhhg©ljyk_lª^_l_c©:ZZ\um`_kgh\ZgZ k\h[h^_ª ² kdZaZe _fm h^gZ`^u fZe_gvdbc fZevqbd dhlhjhfm klZjrbc [jZl jZkkdZau\Ze [m^lh D hl[u\Z_l gZdZaZgb_ \ lxjvf_ aZ lh qlh ih\Zebe k\h_]h mq_gbdZ gZ ihe Lhevdh k_j^h[hevgu_^_\hqdbbgh]^ZaZsbsZebmqbl_eykihjbebk deZkkhfZ mqbl_ex]h\hjbebqlh hg©g_^he`_gwlh]hl_ji_lvªGZdhg_pD[uegZijZ\e_gd \jZqm^ey\uykg_gbyfh`_lebhg ijh^he`Zlv aZgbfZlvky ij_ih^Z\Zl_evkdhc ^_yl_evghklvx LZd D ihiZe d gZf \ debgbdm Hg jZkkdZaZe qlh kh\_jr_ggh jZkl_jyg g_ agZ_l qlh ^_eZlv ?]h lj_[h\Zgby d ^_lyf ihq_fmlh ghkyloZjZdl_jijhkv[Z gZijhkv[u^_lbhl\_qZxlba^_\Zl_evkl\hfb ]jm[hklyfb>_eh^hreh ^hlh]hqlhhgieZdZei_j_^deZkkhfGZ^hkdZaZlvqlh_]hfy]dZyb qmlvjZkl_jyggZyfZg_jZ ih\_^_gby [jhkbeZkv gZf \ ]eZaZ b ijb h[ke_^h\Zgbb Hg qmlv g_ ieZdZe jZkkdZau\Zy gZf h k\hbo aehdexq_gbyo K ^jm]hc klhjhgu D k ]em[hdbf m^h\e_l\hj_gb_f ]h\hjbe h k\h_c ki_pbZevghklb q_jl_`gbdZ K ]em[hdbf qm\kl\hf hg jZkkdZaZe gZf b h g_dhlhjuo ^jm]bo kh[ulbyo b k\yaZgguo k gbfb i_j_`b\Zgbyo Fu ih^\_j]eb _]h ikbohl_jZi_\lbq_kdhfm e_q_gbx b ihj_dhf_g^h\Zeb aZgbfZlvky kh \ajhkeufb mqbl_ev hg \b^bfh ohjhrbc Z \h \ajhkehcZm^blhjbbljm^ghkl_ck ^bkpbiebghcg_[m^_l H[ke_^m_fuc D _s_ \ ^_lkl\_ hlebqZeky [hevrhc ^mr_\ghc fy]dhklvx Hg \k_]^Z ^_j`Zeky \^Zeb hl rZeh\eb\uo b rmfeb\uo ^_l_c ex[be ijbjh^m bkdmkkl\h i_qZevgu_ kh[ulbyhq_gvm^jmqZeb_]hM`_[m^mqb\ajhkeuflh`_g_j_^dhieZdZeQm\kl\bl_evghklvD [ueZ j_amevlZlhf fy]dhk_j^_qby < rdhe_ hg g_j_^dh ijheb\Ze ke_au dh]^Z [beb _]h khmq_gbdh\ gh kZf gZdZaZgbc g_ [hyeky KgZqZeZ _]h wfhlb\ghklv g_ \_eZ d dZdbfeb[h `bag_gguf hkeh`g_gbyf hg hohlgh b mki_rgh jZ[hlZe q_jl_`gbdhf Gh dh]^Z hg gZqZe ij_ih^Z\Zlvb klZeg_lhevdhh[mqZlvj_[ylijhn_kkbhgZevgufgZ\udZfghb \hkiblu\Zlvbo \k_ baf_gbehkv Mq_gbdb kdhjh ihgyeb \ q_f keZ[hklv mqbl_ey b kh k\hckl\_gguf ^_lyf [_a^mrb_fklZebba^_\ZlvkygZ^gbfEbrvk_j^h[hevgu_^_\hqdbiulZebkv_]haZsbsZlv?]h [_kihfhsghklv\ rdhe_[ueZh[mkeh\e_gZl_fqlh\hafmlbl_evgh_ih\_^_gb_^_l_cih^Z\eyeh _]hb hgg_fh]aZgylvwg_j]bqgmxihabpbxijhl_klZ;hjhlvkyk ]gmkgufb\uoh^dZfb^_l_chg [ueg_\ khklhygbbebrvijhkbeihsZ^ugZqlh^_jadb_fZevqbrdbhl\_qZebgh\hcgZ]ehklvx Wfhlb\ghklv m ^_l_c khijh\h`^Z_lky [hyaeb\hklvx Ijb lsZl_evghf h[ke_^h\Zgbb h[gZjm`b\Z_lkyqlhwlZ[hyaeb\hklvk\yaZgZk h[s_cih\ur_gghcqm\kl\bl_evghklvxj_[_gdZ < wlhf ieZg_ __ b ke_^m_l a^_kv jZkkfZljb\Zlv Ijb\h`m ijbf_j wfhlb\gh]h j_[_gdZ hibkZggh]hEbg^g_j OZ\kBhZobfJihklmibed gZf\ debgbdm\ e_lQ_j_a^ebl_evgh_\j_fyihke_lh]hdZd OZgkgZqZeZddmjZlghoh^blvgZ]hjrhdhg\^jm]\gh\vklZeiZqdZlv\ rlZguKemqbehkv wlh dZd jZa d lhfm \j_f_gb dh]^Z _]h feZ^rbc [jZl gZmqbeky ijhkblvky gZ ]hjrhd M OZgkZ ij_djZkgu_ ^hfZrgb_ mkeh\by Hg klZjrbc ba q_luj_o ^_l_c FZlv g_ jZ[hlZ_l lZd dZd iheghklvxihk\ylbeZk_[y^_lyfb ohayckl\mHl_pk_jv_agucb \u^_j`Zggucq_eh\_dkem`bl ]eZ\guf [mo]Zel_jhf fgh]h \j_f_gb b \gbfZgby m^_ey_l k_fv_ <k_ ^_lb jZa\b\Zebkv ghjfZevgh < h[s_f k_fvy \iheg_ [eZ]hihemqgZy OZgk jh^beky gZ ljb g_^_eb jZgvr_ kjhdZ ZddmjZlghklv\ hlijZ\e_gbyoijbreZk g_dhlhjufhiha^Zgb_f²\ ]h^ZFZevqbdf_qlZl_e_g qm\kl\bl_e_gd gZdZaZgbyfihke_gbo^he]h_\j_fy[u\Z_lih^Z\e_ggufm]g_l_ggufLjm^gh ijb\udZ_ld gh\hch[klZgh\d_ihwlhfmg_hohlghoh^blk fZl_jvx\ ]hklb<hh[s_g_agZdhfuo klhjhgblky dhglZdlu k gbf mklZgZ\eb\Zxlky lm]h Ex[Zy jZaemdZ k qe_gZfb k_fvb hl_p m_a`Z_lk ^jm]bfb^_lvfb\ hlimkdfZlvmoh^bl\ jh^bevguc^hfijhoh^bl[he_ag_gghFZlv gZijbf_jmoh^y\ jh^^hfohl_eZihijhsZlvkyk ^_lvfbghOZgkZgb]^_g_[uehhghdZaZekym k_[y\ ihkl_ebb ]hjvdhju^Zeohlyijbl\hjyekykiysbf>eyOZgkZoZjZdl_jgZkdjulghklv\ qm\kl\Zo lZd i_j_^ hlt_a^hf hlpZ hg kb^_e aZ klhehf ydh[u k bgl_j_khf m]em[b\rbkv \ ©@bagv `b\hlguoª ;j_fZ hg g_ ohl_e g_ lhevdh ijhklblvky k hlt_a`Zxsbfb gh ^Z`_ ihkfhlj_lv bf \ke_^ bahdgZ l _ iulZeky b]ghjbjh\Zlv kblmZpbx dhlhjZy kebrdhf ]em[hdh _]h ljh]ZeZ <h \j_fy ij_[u\Zgby OZgkZ \ debgbd_ fu magZeb _]h dZd lboh]h ijb\_leb\h]h hq_gvihkemrgh]hfZevqbdZHghohlghb klZjZl_evgh\uihegye\k_ihjmq_gbyb ij_^ibkZgby gh gZ kZfmx g_agZqbl_evgmx djblbdm j_Z]bjh\Ze djZcg_ \i_qZlebl_evgh g_j_^dh kh ke_aZfb G_kfhljygZaZkl_gqb\hklvOZgkZm g_]hmklZgh\bekyohjhrbcdhglZdlk ^jm]bfb^_lvfb?fm [ueh gZagZq_gh ki_pbZevgh_ e_q_gb_ ih ih\h^m wgdhij_aZ b hg hohlgh \uihegye \k_ ij_^ibkZgbyIjb\uibkd_badebgbdb\k_kbfilhfuaZ[he_\Zgbybkq_aeb[_kke_^gh < lhf qlh j_[_ghd bkijZ`gyeky \ rlZgu \ ^g_\gh_ \j_fy fu mkfZljb\Z_f `_eZgb_ j_[_gdZ \_jgmlv k_[_ aZ[hleb \hklv fZl_jb LZdhc ijb_f y\beky j_amevlZlhf kdjulh]h ©oh^Zª OZgkZ feZ^rbc [jZl d wlhfm \j_f_gb dZd jZa gZmqbeky ZddmjZlgh bkijZ`gylvky m fZl_jb ©jZa\yaZebkvjmdbªke_^h\Zl_evghhgZfh]eZ©ijhy\blvaZ[hlmªb hg_fOZgk_;hyaeb\hklbm OZgkZfug_gZ[ex^Zebh^gZdhihgZlmj_hg[uedjZcg_qm\kl\bl_e_gfy]hdIh^Z\e_gghklv ihke_ gZdZaZ gbc ly`_klv jZaemdb k [ebadbfb klj_fe_gb_ ba[_]Zlv ex^_c fZehagZdhfuo ke_aeb\hklv²\k_wlhlbibqgu_j_Zdpbbwfhlb\ghcebqghklbKlZjZykvih^Z\blvwlbj_Zdpbb OZgk ba[_]Ze kblmZpbc dhlhju_ fh]eb [u bo kijh\hpbjh\Zlv LZd dZd \k_ ]jm[h_ _fm [ueh ijhlb\ghhgjhkkeZ\gufqmldbfb ijZ\^b\ufj_[_gdhfM \ajhkeuowfhlb\gucl_fi_jZf_gl dZd fu \b^_eb g_j_^dh y\ey_lky ijbqbghc [he_ag_gguo ^_ij_kkb\guo j_Zdpbc gZ kbevgu_ i_j_`b\Zgby M j_[_gdZ qm\kl\Z dhlhjh]h [he__ ij_oh^ysb fu j_`_ klZedb\Z_fky k lZdbfb ijhy\e_gbyfb hg fh`_l [ulv ]em[hdh ihljyk_g \ ^Zgguc fhf_gl dZdbflh kh[ulb_f gh hgh [ukljh me_lmqb\Z_lky ba _]h iZfylb Ihwlhfm kZfhm[bckl\Z \ ^_lkdhf \hajZkl_ gZ[ex^Zxlky j_^dh <hafh`gh wlh k\yaZgh b k ij_^\Zjbl_evguf ijh^mfu\Zgb_f dhlhjh]h lj_[m_l kZfhm[bckl\h b ^ey dhlhjh]h bgl_ee_dl j_[_gdZ _s_ g_ khaj_e KemqZb kZfhm[bckl\Z beb ihiuldbd kZfhm[bckl\m\ ^_lkdhf\hajZkl_ijhbkoh^yl\ \b^_bfimevkb\guo^_ckl\bcDZdh_ eb[h ly`_eh_ i_j_`b\Zgb_ \uau\Z_l ]em[hdmx ^_ij_kkbx \hafh`gh \ k\yab k wfhlb\guf l_fi_jZf_glhfb \_^_ld g_ijh^mfZgghcb g_ih^]hlh\e_gghcihiuld_kZfhm[bckl\Zd kqZklvx \ [hevrbgkl\_kemqZ_\g_m^ZqghcIhiuldbkZfhm[bckl\Z\ ^_lkdhf\hajZkl_\klj_qZxlkyqZs_ \k_]h\ k\yabk hkljufb ly`_eufkljZohfi_j_^gZdZaZgb_f Khq_lZgb_Zdp_glmbjh\Zgguoq_jloZjZdl_jZb l_fi_jZf_glZ Y g_ klZ\ex i_j_^ kh[hc p_ev ihdZaZlv \k_ \hafh`gu_ khq_lZgby q_jl oZjZdl_jZ b l_fi_jZf_glZ ?keb ^\_ beb ^Z`_ g_kdhevdh ij_^klZ\e_gguo iZjZee_evgh q_jl g_ kebrdhf aZf_lgh\aZbfghi_j_k_dZxlkylhagZywlbhl^_evgu_q_jlug_ljm^ghihgylvb bodhf[bgZpbb <aZbfhk\yav jZaebqguo q_jl dhlhjZy [ueZ ijhbeexkljbjh\ZgZ \ur_ ihdZaZeZ ex[hiulgu_ hkh[_gghklboZjZdl_jZqZklhkh\k_fg_h`b^Zggu_Hij_^_e_ggu_khq_lZgbyq_jll_fi_jZf_glZ f_`^m kh[hc b k q_jlZfb oZjZdl_jZ lZd`_ ^Zxl \_kvfZ bgl_j_kgu_ j_amevlZlu Fu kqblZ_f p_e_khh[jZaguf hklZgh\blvky b gZ wlhf \hijhk_ qlh[u \hkihegblv dZjlbgm Zdp_glmZpbb ebqghklb ij_^klZ\blv __ bkq_jiu\Zxsbf h[jZahf Fh`gh [ueh [u ij_^iheh`blv qlh ^_fhgkljZlb\gZy kdehgghklv d ijbl\hjkl\m hdZ`_lky hkh[_ggh \ujZ`_gghc \ khq_lZgbb k ]bi_jlbfbq_kdhc Zdlb\ghklvx Gh wlh ^hims_gb_ kijZ\_^eb\h ebrv \ hlghr_gbb ^_lkdh]h \hajZklZ dh]^Z ^_ckl\bl_evgh g_j_^dh ijb lZdhc dhf[bgZpbb `Z`^Z Zdlb\ghklb \e_q_l aZ kh[hc p_euc jy^ g_q_klguo ihklmidh\ Y ^_lZevgh hibkZe \ k\h_c pblbjh\Zgghc m`_ jZ[hl_ h^gh]h]bi_jlbfbq_kdbbkl_jbq_kdh]hj_[_gdZA^_kvijb\h`mijbf_jhibkZgguc;_j]fZg FhgbdZDe_lf_kihklmibeZ\ debgbdm ih ih\h^m iZlheh]bq_kdh]h [_kihdhckl\Z Hl_p ² [hevrhc o\Zklmg \hjh\Zluc lbi JZau]ju\Ze ba k_[y ©[hevrh]h q_eh\_dZª M`_ \ ]h^Z ^_\hqdZ [ueZ ^bdhc g_mijZ\ey_fhc ^_ahj]Zgbah\u\ZeZ ^_lkdbc dhee_dlb\ < rdhe_ hdZaZeZkvg_\ughkbfhcjh^bl_eb[ueb\ugm`^_guaZ[jZlv__HgZihklhygghe]ZeZaZ[bjZeZm ^_l_c \_sb dhlhju_ _c gjZ\bebkv ijh]meb\ZeZ mjhdb deZkk __ ©g_ ijbgyeª M gZk hgZ [_a \kydh]hkl_kg_gbyjZkkdZau\ZeZh k\hbo\uoh^dZodjZ`ZoGbdZdboijbagZdh\klu^Zl_f[he__ ih^Z\e_gghklbg_[uehb \ihfbg_Djhf_lh]hFhgbdZ\k_\j_fy[ueZg_kihdhcgZ_jaZeZgZ klme_]h\hjbeZ\ha[m`^_gghb [_amfhedm<hh[s_gZkljh_gb_m ^_\hqdb\k_]^Zijbih^gylh_K b]jmrdZfbFhgbdZh[jZsZeZkvgZj_^dhklvg_jyreb\h>jm]b_^_lb\ debgbd_g_ohl_ebk g_c b]jZlv lZd dZd hgZ [ueZ g_l_jibfZ ]jm[Z b [_kp_j_fhggZ H^gZdh d \ajhkeuf hgZ iulZeZkv \l_j_lvky\ ^h\_jb_evklbeZgZijhiZemxklZjZeZkvbfihgjZ\blvky <uoh^db Fhgbdb oZjZdl_jgu ^ey \k_o ]bi_jlbfbq_kdbo ^_l_c Gh hgZ [ueZ _s_ b \hjh\dhc b hlty\e_gghc e]mgv_c b ijb wlhf kh\_jr_ggh g_ khagZ\ZeZ qlh \_^_l k_[y g_ih^h[Zxsbf h[jZahf Evklb\hklv ih hlghr_gbx d \ajhkeuf b [_kp_j_fhgghklv kh k\_jklgbdZfb k\b^_l_evkl\mxl h[ bkl_jbq_kdbo q_jlZo ?keb mq_klv ZkkhpbZevgh_ ih\_^_gb_ Fhgbdb gZijZrb\Z_lkyiehohc ijh]gha Gh \k_ `_ g_ bkdexq_g b ^jm]hc imlv jZa\blby wlhc ^_\hqdbb[hdhf[bgZpby^Zgguoq_jlm \ajhkeuog_bkdexqZ_lijhlb\hiheh`guoj_amevlZlh\ =bi_jlbfbq_kdZy `Z`^Z ^_yl_evghklb m \ajhkeuo ^Ze_dh g_ \k_]^Z \ujZ`Z_lky \ kh\_jr_gbb g_ihjy^hqguoihklmidh\gZh[hjhlwlhk\hckl\hl_fi_jZf_glZg_j_^dhhkeZ[ey_lZfhjZevgu_ ijhy\e_gby Hldjulu_ gZlmju dhlhjufb [hevr_c qZklvx y\eyxlky ij_^klZ\bl_eb ]bi_jlbfbq_kdh]hl_fi_jZf_glZba[bjZxlijyfu_imlbObljhklvg_bkdj_gghklvijbl\hjkl\h g_\y`mlkyk bo`bag_gghcmklZgh\dhcJ_[_gdmf_g__k\hckl\_gghlhjfh`_gb_ih[m`^_gbc\ lhf qbke_ b g_q_klguo hkh[_ggh _keb j_qv b^_l h[ bkiheg_gbb _]h `_eZgbc Djhf_ lh]h m ^_l_c bgh]^Z gZ[ex^Z_lky [_am^_j`gh_ klj_fe_gb_ ohly [u \ q_flh k_[y ijhy\blv ² k\h_h[jZagh_ ^_lkdh_ ls_keZ\b_ Bgh]^Z m j_[_gdZ g_bkdj_gghklv khq_lZ_lky k hldjuluf `bag_jZ^hklgufih\_^_gb_fM \ajhkeuoiZjZee_ebaflZdbojZaghieZgh\uok\hckl\ebqghklb ihqlb g_ \klj_qZ_lky Hibku\Z_fh_ khq_lZgb_ \_kvfZ qZklh gZ[ex^Z_lky m ibkZl_e_c `mjgZebklh\ ^_yl_evghklv dhlhjuo fh`gh kdZaZlv ijyfh klbfmebjm_lky kmffhc ]bi_jlbfbq_kdh]h l_fi_jZf_glZ b ^_fhg kljZlb\gh]h oZjZdl_jZ GZijbf_j qlh \ i_j\mx hq_j_^v \Z`gh ^ey ibkZl_ey `mjgZebklZ" Hldjulhklv fbjm \i_qZle_gbyf b [h]Zlkl\h \hh[jZ`_gby ^Zj nZglZabb Ijb\_^m hibkZgb_ h^gh]h ba q_luj_o hibkZgguo gZfb jZg__ ibkZl_e_cy\eyxsboky^_fhgkljZlb\gh]bi_jlbfbq_kdbfbebqghklyfb OZgkR]jh`^FZlv²\_k_eZykeh\hhohleb\Zyb]jZeZ\ kZfh^_yl_evghfl_Zlj_ HgZ ohjhrh dhglZdlbjh\ZeZ k hdjm`Zxsbfb y\eyeZkv ^mrhc h[s_kl\Z m\e_dZeZkv fmaudhc dgb]Zfb `b\hibkvx < gZklhys__ \j_fy R ]hlh\bl d ba^Zgbx ^g_\gbd k\h_c fZl_jb H[ke_^m_fucex[bl[u\Zlv\ h[s_kl\_]^_hg\k_]^ZgZoh^blky\ p_glj_\gbfZgbyK ^_lkl\Z f_qlZeklZlvZdl_jhflZddZdij_djZkghmf__l\`b\Zlvky\ jhevIhhdhgqZgbbrdheuiulZeky ihklmiblv \ l_ZljZevgh_ mqbebs_ b ijh\Zebeky AZl_f hg ijh[h\Ze aZgylvky j_`bkk_jkdhc jZ[hlhc ^Z`_ khqbgbe aZ ljb ^gy ^jZfm gh b gZ wlhf ihijbs_ g_ kmf_e ijh^\bgmlvky M g_]h[uekdZg^ZegZex[h\ghcihq\_< ihbkdZojZ[hlumkljhbekygZ[hjsbdhf\ lbih]jZnbxb a^_kvgZqZeibkZlvIbkZegh\_eeudhjhldb_jZkkdZaukZlbjbq_kdh]hkh^_j`ZgbyDZdibkZl_ev ihevah\Zekymki_ohfb ohjhrhaZjZ[Zlu\Ze@_gbekygh\ e_ljZa\_ekyK ^\Z^pZlbe_lg_]h \hajZklZ R iv_l ihkl_i_ggh m\_ebqb\Zy ^hau ² _fm dZ`_lky qlh \ khklhygbb hivyg_gby emqr_b^_ll\hjq_kdZyibkZl_evkdZyjZ[hlZGZkZfhf`_^_e_hgaZqZklmxlZdgZib\Zekyqlh \hh[s_ gbq_]h g_ fh] gZibkZlv Ihke_ jZa\h^Z hg g_kfhljy gZ ijbebqguc aZjZ[hlhd \e_a \ ^he]b\_eg_mihjy^hq_ggmxiheh\mx`bagvH^gZba_]h©ih^jm]ªiulZeZkvihdhgqblv`bagv kZfhm[bckl\hf < gZr_c debgbd_ R \k_]^Z [ue jZa]h\hjqb\ \ ijbih^gylhf gZkljh_gbb <k_]^Zm g_]hgZoh^behkvqlhjZkkdZaZlv?keb_]hg_ij_ju\Zlvhgfh`_l]h\hjblv[_adhgpZ ihklhygghhldehgyykvhll_fuHgex[blihdjZkh\Zlvkyk\h_cj_qvxbgh]^Z]h\hjblfZg_jgh \klZ\eyy bghkljZggu_ keh\Z lZf ]^_ \ gbo g_l gbdZdhc gZ^h[ghklb JZkkdZau\Zy Z\lh[bh]jZnbxhg\kyq_kdbijbmdjZrb\Ze__`_eZyihdZaZlvk_[y\ \u]h^ghfk\_l_Dh]^Z_]h mij_dZeb \ aehmihlj_[e_gbb Zedh]he_f hg lml `_ ijb\h^be lukyqb hijZ\^Zgbb b ih \k_c \b^bfhklb \gmlj_gg_ lZd`_ g_ ijbagZ\Ze aZ kh[hc \bgu ;he__ lh]h hg kqblZe qlh dZd ibkZl_ev bf__l ijZ\h ij_l_g^h\Zlv gZ [hevr__ \ `bagb q_f ^jm]b_ ex^b H^gZdh _]h aZagZckl\h b \ukhdhf_jb_ gbdh]^Z g_ ijhba\h^beb m gZk \ debgbd_ g_ijbylgh]h \i_qZle_gby ihlhfmqlhRex[u_k\hbaZy\e_gbykhijh\h`^Zemeu[dhc\_k_eufbrmldZfbb ijb[ZmldZfb Ih hdhgqZgbb e_q_gby hg klZe kgh\Z ijh^mdlb\gh ibkZlv b k^_eZeky ² \h \kydhf kemqZ_ gZ g_dhlhjh_\j_fy²khpbZevghmjZ\gh\_r_ggufq_eh\_dhf ;_amkeh\ghfu\ijZ\_ ]h\hjblv h gZebqbb m wlh]h h[ke_^m_ fh]h q_jl^_fhgkljZlb\ghc ^Z`_bkl_jbq_kdhcebqghklbHgls_keZ\_gij_m\_ebqb\Z_lk\hbkihkh[ghklbo\ZklZ_lkyl_f qlh aZ ljb ^gy gZibkZe ^jZfm K\hc g_mihjy^hq_gguc h[jZa `bagb hg eb[h \kyq_kdb hijZ\^u\Z_leb[h\hh[s_hljbpZ_l<iheg_\hafh`ghqlh`bagvRkeh`beZkv[u_s_f_g__ m^Zqgh _keb [u d bkl_jbq_kdbf q_jlZf m g_]h g_ ijbkh_^bgbebkv ]bihfZgbZdZevgu_ G_khfg_ggh _]h ibkZl_evkdZy ^_yl_evghklv [_a wlhc Zdlb\ghklb b ©hldjulhklbª gZlmju g_ m^ZeZkv [u BlZd ^Zggmx dhf[bgZpbx q_jl fh`gh \ h[s_f kqblZlv [eZ]hijbylghc H^gZdh Zedh]hebafijb lZdhf khq_lZgbbij_^klZ\ey_l hkh[mx hiZkghklv ]bihfZgbZdihklhygghbs_l \_k_eh]hh[s_kl\ZZ \_^v\ lZdhfh[s_kl\_qZklhg_h[oh^blky[_aZedh]hevguogZibldh\L_f kZfuf m[b\Z_lky lh ]bi_jlbfbq_kdb iheh`bl_evgh_ qlh fh]eh [u \ujZ\gylv g_dhlhju_ bkl_jbq_kdb_q_jluebqghklbKhq_lZgb_^_fhgkljZlb\guoq_jloZjZdl_jZk ]bi_jlbfbq_kdhc `b\hklvxl_fi_jZf_glZkihkh[kl\m_lZdlb\baZpbbZdl_jkdbo^Zgguo\ q_eh\_d_AZc]_\ gZr_c kh\f_klghc jZ[hl_ hibku\Z_l lj_o Zdl_jh\ k lZdbfb k\hckl\Zfb ebqghklb H^gh ba wlbo hibkZgbcy ijb\h`ma^_kv OZcgp = e_l Zdl_j j_`bkk_j Z\lhj iv_k ?s_ \ rdhe_ bgl_j_kh\Zeky l_Zljhf fmaudhc[jZemjhdbfmaudbIh`_eZgbxhlgZihklmibe\ mgb\_jkbl_lghe_dpbcg_ihk_sZe wdaZf_gh\b aZq_lh\g_k^Z\ZeZ q_j_a^jma_ch[fZggufh[jZahfhnhjfeye\kx^hdmf_glZpbx KZf`_hgaZgbfZekyl_ZljhfwkljZ^hc©dZimklgbdZfbªIha`_=hldjuek\hcl_Zljgh\kdhj_ \ugm`^_g[ueaZdjulv_]hlZddZdi_j_hp_gbek\hbwdhghfbq_kdb_\hafh`ghklbb hq_gvkdhjh gZqZe bkiulu\Zlv nbgZgkh\u_ aZljm^g_gby Hg [jZeky h^gh\j_f_ggh aZ jZagu_ jZ[hlu gh fgh]h_ \uihegye g_^h[jhkh\_klgh = gZibkZe g_kdhevdh iv_k ^ey l_ZljZ b l_e_\b^_gby Ihkdhevdm = qZklh ^_j`Ze k_[y \_kvfZ kZfhm\_j_ggh b ^Z`_ gZ]eh hg lh b ^_eh \klmiZe \ dhgnebdluk \ebyl_evgufbl_ZljZevgufb^_yl_eyfbH^gZdh\bguk\h_cgbdh]^Zg_ijbagZ\Ze k\Zeb\Ze __ gZ ^jm]bo GZkljh_gb_ m = [ueh \k_]^Z ijbih^gylh_ hg h[eZ^Ze g_bkkydZ_fuf djZkghj_qb_fbgh]^Zi_j_oh^b\rbf\ kdZqdmb^_c =bi_jlbfbq_kdb_ q_jlu m wlh]h h[ke_^m_fh]h ij_h[eZ^Zxl gZ^ ^_fhgkljZlb\gufb <hafh`ghbf_gghihwlhfml_ZljZevghhj]ZgbaZlhjkdhcZ^fbgbkljZlb\ghc^_yl_evghklvxhg aZgbfZeky [hevr_ q_f Zdl_jkdhc K ^jm]hc klhjhgu hlq_leb\h \b^gu b ^_fhgkljZlb\gu_ q_jluhgqZklh h[fZgu\Ze hdjm`Zxsbo \k_]^Z[ue ]hlh\ kfhr_ggbqZlv \ kihj_gbdh]^Z g_ ijbagZ\Ze k\h_c \bgu GZb[he__ yjdZy q_jlZ = ² `_eZgb_ ijhba\_klb \i_qZle_gb_ l _ \ujZ`_ggh_ls_keZ\b_ Hkh[uc bgl_j_k ij_^klZ\ey_l khq_lZgb_ ^_fhgkljZlb\guo b Znn_dlb\gheZ[bevguo q_jl lZd dZd b l_ b ^jm]b_ k\yaZgu kh kdehgghklvx d ihwlbq_kdhc om^h`_kl\_gghc ^_yl_evghklb >_fhgkljZlb\gu_ q_jlu oZjZdl_jZ klbfmebjmxl nZglZabx Znn_dlb\gheZ[bevguc l_fi_jZf_gl ihjh`^Z_l wfhpbhgZevgmx gZijZ\e_gghklv Ijb\_^m hibkZgb_ h[ke_^m_fhc m dhlhjhcly]Zd ihwabbh[mkeh\e_gZbf_gghlZdbfkhq_lZgb_fq_jlebqghklb ;_j[_ev=]jh`^ihijhn_kkbbf_^k_kljZghk ^_lkl\Zqm\kl\h\ZeZihwlbq_kdh_ ijba\Zgb_<k_k\h[h^gh_\j_fym g__moh^behgZl\hjq_kdmx^_yl_evghklvHgZibkZeZklbob jZkkdZau ^ey ^_l_c kdZadb bgh]^Z kZlbju Ih]jm`_ggZy \ fbj nZglZabb hgZ aZ[u\ZeZ h[ hdjm`Zxs_fOhlygZmki_ob ijbagZgb_gZ^_`^ug_[uehgh\^hogh\_gb_g_ihdb^Zeh__b hgZ ijh^he`ZeZ khqbgylv >_ij_kkb\guc ihexk \ujZ`Zeky m = \ g_kdhevdbo ihiuldZo kZfhm[bckl\Z ijbq_f g_dhlhju_ ba gbo [ueb bkl_jbq_kdb hdjZr_gu ihwlhfm bo g_evay kqblZlvk_jv_agufbGZ[ex^Zebkvb ^jm]b_^_fhgkljZlb\gu_q_jlu=mdehgyeZkvhlljm^ghc jZ[hlu qZklh kiZkZeZkv ©[_]kl\hf \ [he_agvª b [ueZ kdehggZ d kZfhkhkljZ^Zgbx < debgbdm hgZihklmiZeZg_h^ghdjZlgha^_kvgZkljh_gb___dhe_[Zehkvf_`^mdhd_leb\ufaZb]ju\Zgb_f \h \j_fy ©ih^t_fh\ª b iZjhdkbafZfb ke_a dhlhjufb hgZ iulZeZkv \ua\Zlv d k_[_ `Zehklv G_kdhevdh jZa __ ihk_sZeZ fZlv hlebqZ\rZyky iZl_lbq_kdb fb fZg_jZfb b ijhba\h^b\rZy yjdh_\i_qZle_gb_^_fhgkljZlb\ghcebqghklb Ihke_ \uibkdb ba debgbdb = hklZ\ZeZkv ih^ ikbohl_jZi_\lbq_kdbf gZ[ex^_gb_f B \ ihke_^mxsb_ ]h^u hgZ g_ baf_gbeZ k\hbf ihwlbq_kdbf kdehgghklyf khqbgyy l_i_jv \ hkgh\ghf klbob b jZkkdZau ^ey ^_l_c G_j_^dh __ l\hjq_kl\h [u\Zeh i_k kbfbklbq_kdb hdjZr_ghIha^g__hgZh[jZsZeZkvb dbah[jZabl_evghfmbkdmkkl\me_ibeZ]ebgygu_nb]mjdb ba]hlh\eyeZ jZagu_ dmklZjgu_ ba^_eby HgZ ijh^he`ZeZ jZ[hlZlv f_^k_kljhc ohly ^ey wlh]h gm`^ZeZkv\ kbkl_fZlbq_kdhcih^^_j`d_dmjkZfbikbohl_jZi_\lbq_kdh]he_q_gbyH[ke_^m_fhc ihklhyggh ]jhabeZ hiZkghklv ihegh]h ih]jm`_ gby \ fbj nZglZabb b aZ[\_gby ^_ckl\bl_evghklb <ijhq_f kihkh[ghklv d \^hogh\_gbx iheh`bl_evgh kdZau\ZeZkv b gZ __ hkgh\ghc ijhn_kkbb f_^k_klju \ dhlhjhc = ijhy\eyeZ g_fZeh kZfhhl\_j`_gghklb g_kfhljy gZ \j_f_ggu_ kju\u DZd \b^bf Znn_dlb\gheZ[bevguc l_fi_jZf_gl hdZau\Z_l kfy]qZxs__ \ha^_ckl\b_gZw]hbafbkl_jbq_kdh]hieZgZKh\_jr_gghhq_\b^ghqlhb gZijhn_kkbxZdl_jZ lZdh_ kh q_lZgb_ q_jl hdZau\Z_l [eZ]hijbylgh_ \ha^_ckl\b_ =em[hdb_ qm\kl\Z _keb hgb k\yaZgu k q_jlZfb ^_fhgkljZlb\gh]h oZjZdl_jZ ijbh[j_lZxl ^bgZfbq_kdmx kbem \ujZ`_gby Dh]^Z Zdl_j lhevdh bkl_jbq_g hg fh`_l ebrv m^Zqgh bah[jZ`Zlv jZaebqgu_ ^mr_\gu_ khklhygby gh ]em[hdZy wfhpbhgZevgZy i_j_^ZqZ qm\kl\ g_\hafh`gZ _keb g_l \gmlj_ggbo i_j_`b\ZgbcIjb\h`mgZ[ex^_gb_hibkZggh_AZc]_ ;_jlZRe_lZdljbkZk fheh^uoe_l\f_kl_khk\h_ck_kljhcjZ[hlZ_l\ h^ghfb lhf `_l_Zlj_ K xghklb R hlebqZ_lky j_adhc eZ[bevghklvx gZkljh_gbc bkiulu\Zy lh [_am^_j`gmx jZ^hklv lh hlqZygb_ < l_Zlj_ hgZ \k_]^Z jZ[hlZeZ k iheghc hl^Zq_c [ueZ g_hibkm_fh kqZkleb\Zdh]^Zjhev_cm^Z\ZeZkvGh^Z`_g_aZ\bkbfhhlk\h_cg_ihkj_^kl\_gghcjZ[hluhgZ \hh[s_ kljZklgh ex[beZ l_Zlj fmaudm \k_ ij_djZkgh_ <f_kl_ k l_f R `beZ \ ihklhygghf kljZo_i_j_^aZ[he_\Zgbyfblhbgn_dpbhggufblhe_]hqgufb<gZqZe_wlhlkljZo[uek\yaZgk qv_clhdhgdj_lghc[he_agvxIha^g__hgZ`Zeh\ZeZkvgZkljZo[_a\b^bfh]hih\h^ZR\k_]^Z hlebqZeZkvkm_\_jghklvxG_h^ghdjZlghhgZijhkbeZijbgylv__ \gZrmdebgbdmghijbwlhf klZ\beZk\hbmkeh\byIj_`^_\k_]hhgZg_fh]eZhldZaZlvkyhlkghl\hjguoihjhrdh\dhlhju_ \ l_q_gb_ fgh]bo e_l ijbgbfZeZ \ h]jhfguo dhebq_kl\Zo Gh ihkdhevdm gZ wlh fu ihclb g_ fh]eb hgZ ebrv h^bg jZa [ueZ m gZk \ klZpbhgZj_ ^Z b lh ij_`^_\j_f_ggh ij_j\ZeZ dmjk e_q_gbyIhke_wlh]hhgZ\j_fyhl\j_f_gbijboh^beZd gZfb ky\ghcZnn_dlZpb_cijhkbeZ__ e_qblvih__ kh[kl\_gghcko_f_Rkbevghg_j\gbqZeZbkiulu\ZeZijbklmiukljZoZghdh]^Z _c]h\hjbebqlhijbqbgZwlboy\e_gbc²\ aehmihlj_[e_gbbkghl\hjgufbkj_^kl\ZfbhgZb kemrZlv g_ ohl_eZ Ijb hldZa_ R imkdZeZ \ oh^ \k_\hafh`gu_ l_ZljZevgu_ ijb_fu iZ^ZeZ i_j_^ \jZqhf gZ dhe_gb ijhly]b\ZeZ d g_fm jmdb hkuiZeZ _]h iho\ZeZfb ih ih\h^m _]h \jZq_[gh]hfZkl_jkl\Zqmldhklbb l^ Wlm h[ke_^m_fmx \k_]^Z hlebqZe Znn_dlb\gheZ[bevguc l_fi_jZf_gl Gh bf h^gbf g_evay h[tykgblv lZdmx mljbjh\Zg gmx ^_fhgkljZpbx qm\kl\ :dljbk_ e_]q_ q_f ^jm]bf ex^yf himklblvky i_j_^ \jZqhf gZ dhe_gb gh \ lhf dZd hgZ \_eZ k_[y \ ^Zevg_cr_f qm\kl\h\Zebkvq_jlu^_fhgkljZlb\ghcZdp_glmZpbbJ_`bfkbkl_fZ\ __`bagbhlkmlkl\h\Zeb aehmihlj_[e_gb_ kghl\hjgufb kj_^kl\Zfb dhlhju_ _c [ueb aZij_s_gu \ dZdhc lh f_j_ fh`gh kqblZlv ihiuldhc R d kZfhml\_j`^_gbx I_^Zglbq_kdbc oZjZdl_j kfy]qZ_lky ijb khq_lZgbbk ]bi_jlbfbq_kdbfl_fi_jZf_glhfihkdhevdmihke_^gbcg_kdhevdhih\_joghkl_gB \k_ `_ bklbggh]h \ujZ\gb\Zgby g_ ijhbkoh^bl Wlb q_jlu ebqghklb hlghkylky d kebrdhf jZaebqguf kn_jZf qlh[u dhfi_gkbjh\Zlv ^jm] ^jm]Z GZijbf_j ]bihfZgbZdm gbqlh g_ ihf_rZ_l [ulv ^h[jhkh\_klguf jZ[hlgbdhf _keb hg h[eZ^Z_l b ZgZgdZklbq_kdbfb q_jlZfb Ijb\h`mijbf_jh[ke_^m_fhcjZg__hibkZgghc;_j]fZg RZjehllZ D e_l m`_ j_[_gdhf [ueZ hq_gv klZjZl_evghc ljm^hex[b\hc Iha^g__ \k_]^Z gZf_qZeZ k_[_ \ `bagb g_dmx p_ev dhlhjhc h[yaZl_evgh ^hklb]ZeZ Q_eh\_d ij_^ijbbfqb\uc hgZ hldjueZ k\hc iZjbdfZo_jkdbc kZehg Kh \j_f_gb hdhgqZgby rdheu jZ[hlZ_l_`_^g_\ghihqihqlb\k_wlh\j_fy_cijboh^blkyklhylvgZgh]Zo<h\j_fy\hcgu ihl_jyeZfm`ZiZjbdfZo_jkdZyihqlbg_jZ[hlZeZIhke_\hcguij_^ijbylb_kgh\ZjZkp\_ehm Dl_i_jvjZ[hlZebq_eh\_dGZb`^b\_gbbD[ueb__ jh^bl_ebg_qZy\rb_^mrb\ ^hq_jb HgZ\ hq_gvohjhrbohlghr_gbyokhk\hbfkughfD²gZlmjZ\_k_eZy`bag_jZ^hklgZyM g__ fZkkZijbyl_evgbp\k___ex[ylaZ`b\hklv\_k_ehklvHgZlZd`_h[jZaph\ZyohaycdZhlebqgh jmdh\h^blk\hbfkZehghf;mo]Zel_jkdb_dgb]bfgh]hdjZlghdhgljhebjm_lqlh[u\_^himklblv hrb[db D y\beZkv \ debgbdm qlh[u ijh\_jblv fh`_l eb hgZ b ^Zevr_ jmdh\h^blv iZjbdfZo_jkdhcG_aZ^he]h^hwlh]hhgZijhklm^beZkvghi_j_g_keZ[he_agvgZgh]ZojZ[hlZeZ b \hlgZqZebkvnbabq_kdb_g_^hfh]ZgbyD`Zeh\ZeZkvgZk_j^p_[b_gb_gZkljZggh_qm\kl\h\ jmdZolhqghihgbflhdijhoh^blªDjhf_lh]hhgZhsmsZeZ\gmlj_gg__[_kihdhckl\hklZeZ jZa^jZ`bl_evgZIhke_djZldh]hhl^uoZd dhlhjhfmfuihqlbg_ih^dexqZebikbohl_jZibxD ihijZ\beZkvb \_jgmeZkvd bkiheg_gbxk\hboh[yaZgghkl_c Khq_lZgb_ h[_bo q_jl Zdp_glmZpbb m ^Zgghc h[ke_^m_fhc hdZaZehkv \ \ukr_c kl_i_gb [eZ]hijbylgufK ]bihfZgbZdZevghcg_mlhfbfhcwg_j]b_chgZijh[b\ZeZkv\ `bagbgh\ lh`_ \j_fy __ i_^Zglbqghklv kem`beZ ]ZjZglb_c lh]h qlh \k_ __ ^_eZ [m^ml aZjZg__ lsZl_evgh ih^]hlh\e_gub ^h[jhkh\_klgh\uiheg_guL_b ^jm]b_q_jlu\ g_c]Zjfhgbq_kdbkhq_lZebkv g_[uehbo©\aZbfhmgbqlh`_gbyªb g_\hagbdZebly`_eu_ebqghklgu_ijhlb\hj_qbyIh`Zemc h[ Z[khexlgh iheh`bl_evghf khq_lZgbb q_jl m D ]h\hjblv \k_lZdb g_evay \aylv ohly [u __ j_Zdpbb gZ ij_oh^ys__ g_\jZkl_gbq_kdh_ aZ[he_\Zgb_ \f_klh lh]h qlh[u e_qblvky D ijh^he`Z_l jZ[hlZlv qZklbqgh baaZ `Z`^u ^_yl_evghklb qZklbqgh baaZ j_^dhklghc ^h[jhkh\_klghklb=bihfZgbZdZevgucl_fi_jZf_glg_fh`_lih^Z\blvb gZ\yaqb\uckljZo\ l_o kemqZyo dh]^Z ZgZgdZklbq_kdb_ q_jlu j_adh \ujZ`_gu IjZ\^Z gZ\yaqb\uc kljZo g_ ghkbl hkljh]hoZjZdl_jZb g_ho\Zlu\Z_lebqghklv\ p_ehf<hh[s_]bihfZgbZdZevgucl_fi_jZf_gl h[_j_]Z_l ZgZgdZklZ hl g_\jhaZ gZ\yaqb\h]h kljZoZ gh g_ hl nh[bc dhlhju_ ihy\eyxlky \j_f_gZfb ohly k_jv_agh gZ h[jZa_ `bagb q_eh\_dZ b g_ hljZ`Zxlky Gb`_ hibku\Z_lky q_eh\_d]bihfZgbZdZevgh]hl_fi_jZf_glZk \ujZ`_ggufby\e_gbyfbgZ\yaqb\h]hkljZoZ =xgl_j I ] jh`^ ih ijhn_kkbb am[ghc \jZq M`_ \ ^_lkdhf \hajZkl_ ijhy\eye [hevrmxg_j\haghklvi_j_^dhgljhevgufbjZ[hlZfb\ rdhe_kbevgh\hegh\Zekygbq_]hg__e bkiulu\ZelhrghlmKZfh k_[_aZy\ey_lqlhhg©[hevrhci_^ZglªwlhdZq_kl\hmgZke_^h\Zehl hlpZdhlhjuc©ih^_kylvjZaijbf_jyekyªi_j_^l_fdZdi_j_g_klbpbnjmk h^ghckljZgbpugZ ^jm]mxIkljh]hkh[ex^Z_lj_`bf\_q_jhfijh\_jy_laZdjulueb]Zah\u_djZguohjhrheb aZi_jlZ \oh^gZy ^\_jv < lh `_ \j_fy hg hq_gv `bag_jZ^hkl_g ex[bl [u\Zlv \ h[s_kl\_ lZgp_\Zlv < ] ihke_ mlhfbl_evgh]h jZ[hq_]h ^gy m g_]h ihy\beZkv kbevgZy lhrghlZ j\hlZ hg gbq_]h g_ fh] _klv MklZgh\b\ m k_[y j_adh mkdhj_gguc imevk I hq_gv bkim]Zeky \hafh`ghklb bgnZjdlZ K l_o kZfuo ihj m\_j_g qlh m g_]h k_jv_agh_ aZ[he_\Zgb_ k_j^pZ I_j_klZeoh^blv\ dbgh\ l_Zljba[_]Zeij_[u\Zgby\ l_kguoihf_s_gbyoMljhfih^gbfZekyk ihkl_ebk [hevrbfbij_^hklhjh`ghklyfb©qlh[ug_hly]hsZlvijhp_kkdjh\hh[jZs_gbyªIjb wlhf hg ijh^he`Ze jZ[hlZlv b ihij_`g_fm m\e_dZeky _a^hc gZ k\h_f Z\lhfh[be_ QZklh ij_\urZe ^ha\he_ggmx kdhjhklv b ebrv ebqgh_ h[Zygb_ b jZa]h\hjqb\hklv kiZkZeb _]h hl rljZnZQ_j_aihelhjZ]h^Zihke_ihy\e_gby`Zeh[Iihklmibed gZf\ debgbdmHg`Zeh\Zeky gZly`dh_k_j^_qgh_g_^hfh]Zgb_G_kdhjhfum[_^beb_]hqlh_fmfh`ghoh^blvb \l_Zljb \ dbghb \l_kgh_ihf_s_gb_aZclbg_kljZrgh< lh`_\j_fyhg\k_]^Z[ue\_k_ejZa]h\hjqb\ h[h`Zermldb?]hhohlgh kemrZeb \k_]^Zhg mf_e jZkkdZaZlv qlhgb[m^v aZ[Z\gh_ <h \j_fy e_q_gbyIm^Zehkvba[Z\blv_]hhllhjfh`_gbcghhghohlghhklZ\Zekyb ihke_\uibkdb ih^ gZrbf gZ[ex^_gb_f ihlhfm qlh d g_fm ihklhyggh \ha\jZsZeky kljZo i_j_^ k_j^_qguf ijbklmihf khijh\h`^Z_fuf ihl_j_c khagZgby Ex[hiulgh qlh b ihke_ \uibkdb hg ba[_]Ze ihy\eylvky\ l_of_klZo]^_\ k\h_\j_fybkiulu\Zeqm\kl\hkljZoZih^Z\e_gghklb Fuklhedgmebkvk lbibqghc]bihfZgbZdZevghcebqghklvxIhlebqZekyb hilbfbafhfb mkdhj_gb_fj_q_\h]hihlhdZ<k_`_hgkZfk_[ykijZ\_^eb\hoZjZdl_jbah\ZedZd©i_^ZglZªl _\ gZr_fihgbfZgbbdZdi_^Zglbq_kdmxebqghklvM`_\ ^_lkl\_hgbkiulu\ZejZaebqgh]h jh^Zlhjfh`_gbyiha`_wlh\uebehkv\ [he_ag_gghkljh]h_kh[ex^_gb_jZkihjy^dZ^gyWlhl \lhjhc dhfihg_gl ebqghklb ijb\_e \ dhg_qghf blh]_ d bihohg^jbq_kdhfm g_\jham dhlhjuc [ue k\yaZg k deZmkljhnh[b_c l _ kh kljZohf i_j_^ aZfdgmluf ijhkljZgkl\hf H^gZdh wlhl kljZo gbdh]^Z g_ ho\Zlu\Ze _]h p_ebdhf K ^jm]hc klhjhgu ihklhyggh ijhy\eyeky b _]h ]bihfZgbZdZevgucl_fi_jZf_glLhhgbkiulu\Ze[_amfguckljZoi_j_^\g_aZighchklZgh\dhc k_j^pZ lh kh\_jrZe jbkdh\Zggu_ ih_a^db gZ Z\lhfh[be_ b ihklhyggh \klmiZe \ dhgnebdlu k ^hjh`ghcfbebpb_cEbrv]bihfZgbZdZevgZyba\hjhleb\hklvihfh]eZ_fmgZclbgm`gu_keh\Z b hl^_eu\Zlvky hl g_ijbylghkl_c ?keb [u I g_ h[eZ^Ze ]bihfZgbZdZevguf l_fi_jZf_glhf g_khfg_gghg_\jhagZ\yaqb\uokhklhygbcmkm]m[beky[ub \ue_qblv_]h[ueh[uagZqbl_evgh ljm^g__ B \k_ `_ h[jZsZ_l gZ k_[y \gbfZgb_ qlh wlb jZagu_ k\hckl\Z ebqghklb ebrv ^h hij_^_e_gghc kl_i_gb m`b\Zebkv jy^hf \ h^ghf q_eh\_d_ b qZklh ijhy\eyeb k_[y dZd [u g_aZ\bkbfh ^jm] hl ^jm]Z G_ gZ[ex^Z_lky b ijhklh_ kmffbjh\Zgb_ ijb khq_lZgbb i_^Zglbq_kdbo b ^bklbfbq_kdbo q_jl H^gZdh ijb wlhf khq_lZgbb ki_pbnbdZ l_o b ^jm]bo mkbeb\Z_lky l _ hldehg_gb_ hl ghjfu aZf_lg__ GZr hiul ihdZau\Z_l qlh ZgZgdZklh\ hlebqZxsbokyh^gh\j_f_gghkm[^_ij_kkb\ghklvx]hjZa^hljm^g__bae_qblvhlnh[bcq_fl_o dhlhju_ h[eZ^Zxl kj_^gbf l_fi_jZf_glhf Z l_f [he__ ]bi_jlbfbq_kdbf H[uqgh khq_lZgb_ i_^Zglbqghklbb ^bklbfbbhljZ`Z_lkygZ\k_fh[jZa_`bagbGb`_hibku\Z_lkyh[ke_^m_fuc dhlhjh]hgZ[ex^ZeZ;_j]fZg OZigbKe_l\ ^_lkl\_bkiulu\Zelhjfh`_gbykljZ^Zehlqm\kl\Zg_iheghp_gghklb Ih hdhgqZgbb nbehkhnkdh]h nZdmevl_lZ klZe g_kdhevdh m\_j_gg__ \ k_[_ gh dhe_[Zeky \ ba[jZgbb ihey ^_yl_evghklb KgZqZeZ iulZeky klZlv kem`Zsbf aZl_f ihklmibe gZ ^he`ghklv j_^ZdlhjZ \ ba^Zl_evkl\h K ]h\hjbe gZf ©WlZ jZ[hlZ [ueZ g_ ih fg_ gh ^jm]hc ijhklh g_ ij_^\b^_ehkvª Qlh[u ba[_`Zlv h^bghq_kl\Z K jZgh `_gbeky gZ jZa\_^_gghc `_gsbg_ k j_[_gdhf d dhlhjhc bkiulu\Ze [hevr_ `Zehklv q_f ex[h\v <kdhj_ _]h `_gZ \ur_^rZy aZfm` y\gh ba dhjuklguo khh[jZ`_gbc klZeZ baf_gylv _fm Hg jZa\_eky b \ e_l `_gbeky \lhjbqgh \_jg__ _]h `_gbeZ gZ k_[_ `_gsbgZ `b\Zy \_kvfZ Zdlb\gZy dhlhjZy \ ^hf_ _^bghebqgh ©dhfZg^h\ZeZ iZ jZ^hfª K \k_]^Z [ue iZkkb\_g b \ [ulh\hf b \ k_dkmZevghf hlghr_gbb ;hevr_ \k_]h hg ex[be h^bghq_kl\h b ql_gb_ K ihklmibe \ debgbdm ^ey ijhoh`^_gbydmjkZikbohl_jZi_\lbq_kdh]he_q_gbyHgij_^iheZ]Zem k_[yaZ[he_\Zgb_k_j^pZ dhlhjhfm gbdZdb_ hkh[u_ i_j_`b\Zgby g_ ij_^r_kl\h\Zeb H[ke_^m_fuc [ue kihdh_g ZiZlbq_g ijhba\h^be \i_qZle_gb_ q_eh\_dZ ihdhjgh]h km^v[_ K jZkkdZaZe qlh g_j_^dh ih^mfu\Z_l h kZfhm[bckl\_ Khh[sbe lZd`_ h k\h_c ^Z\g_c kdehgghklb d ^_ij_kkbyf K \hh[s_ g_ ij_^klZ\ey_l k_[_ qlh lZdh_ jZ^hklv `bagb F_eZgoheby _]h k_fv_ y\ey_lky gZke_^kl\_gghc>_^\ e_lihdhgqbe`bagvkZfhm[bckl\hfbaaZlh]hqlh^\Z\gmdZh^bgaZ ^jm]bfih]b[ebgZnjhgl_FZlv²q_eh\_daZfdgmluc]hj_klguoi_j_`b\Zgbc^he]hg_fh`_l aZ[ulv agZdhfuo m g__ ihqlb g_l K khh[sbe gZf qlh ih gZlmj_ hg kdehg_g d kdjmime_aghc ZddmjZlghklb\h\k_fdh]^Z\j_f_gghjZ[hlZemqbl_e_f²ihfgh]mqZkh\]hlh\bekyd mjhdZf qZklh ijh\_jye \k_ eb \ l_q_gb_ ^gy \uiheg_gh ^hklZlhqgh ^h[jhkh\_klgh h[ wlhf g_j_^dh ^mfZeb ihghqZf\hjhqZykv\ ihkl_ebHq_gvex[blihjy^hd\kydZydgb]Zm g_]hbf__lk\h_ kljh]hhij_^_e_ggh_f_klh Ijh\h^blv ikbohl_jZi_\lbq_kdh_ e_q_gb_ K [ueh djZcg_ keh`gh lZd dZd _]h ^_ij_kkb\gu_ q_jlu ij_iylkl\h\Zeb Zdlb\ghfm \dexq_gbx \ ijhp_kk e_q_gby F_rZeZ b i_^ZglbqghklvKihkdhevdmhglj_[h\ZehlgZkih^jh[g_crbok\_^_gbch k\h_faZ[he_\Zgbb< dhg_qghfkq_l__]hkhklhygb_\k_`_agZqbl_evghmemqrbehkv M ^Zggh]h h[ke_^m_fh]h ke_^m_l ]h\hjblv h gZebqbb ikbohiZlbb \_jg__ h ^\mo ikbohiZlbyo ² km[^_ij_kkb\ghcb ZgZgdZklbq_kdhc b[hh[_ Zdp_glmZpbb \_kvfZ \ujZ`_gu b ij_iylkl\mxl ghjfZevghfm l_q_gbx `bagb <hafh`gh kZfb ih k_[_ wlb Zdp_glmbjh\Zggu_ q_jlug_[ueb[uklhevk_jv_agu_keb[uh^gZg_mkbeb\ZeZkvaZkq_l^jm]hc>bklbfbq_kdbc l_fi_jZf_gl aZklZ\eye K \hkijbgbfZlv `bagv i_kkbfbklbq_kdb Z kdehgghklv d gZ\yaqb\hfm jZa^mfu\Zgbx \ k\yab k wlhc i_kkbfbklbq_kdhc mklZgh\dhc mkbeb\ZeZkv b ijb\h^beZ d ^_ij_kkbyfG_^hklZlhdwg_j]bbb Zdlb\ghklbh[tykgyxsbcky^bklbfbq_kdbfl_fi_jZf_glhf \_kvfZ\j_^ghhljZ`ZekygZ\k_f`bag_gghfmdeZ^_KLhqlhK\k_`_ihemqbeh[jZah\Zgb_ h[tykgy_lkyiheh`bl_evghcklhjhghch[_boq_jl^h[jhkh\_klghklvxb \^mfqb\ufk_jv_aguf hlghr_gb_f dh \k_fm Ikbohl_jZiby aZljm^g_gZ b lh]^Z dh]^Z i_^Zglbq_kdZy ebqghklv h[eZ^Z_lZnn_dlb\gheZ[bevgufl_fi_jZf_glhfqZklZykf_gZgZkljh_gbyihklhygghk\h^blgZ g_l gZrb l_jZi_\lbq_kdb_ ^hklb`_gby J_r_gby ijbgbfZ_fu_ lZdbfb ex^vfb \k_]^Z g_mklhcqb\uGb`_ijb\h`mk\_^_gbyh ;hibkZgghfjZg__;_j]fZg Ohjkl ; e_l Ih `_eZgbx hlpZ \umqbeky gZ f_oZgbdZ ih lhqguf jZ[hlZf ohly k ^_lkl\Z f_qlZe klZlv fmaudZglhf Iha^g__ h[mqbeky b]j_ gZ ^moh\hf bgkljmf_gl_ AZl_f ² \hcgZ ijbg_krZy khe^Zlm ; fgh]h ly`_euo i_j_`b\Zgbc hg g_ fh] ijbfbjblvky k [_kkfuke_ggufb b [_ahl\_lkl\_ggufb lj_[h\Zgbyfb nZrbklkdbo \h_gZqZevgbdh\ Ihke_ \hcgu b]jZe \ jZaguo hjd_kljZo DZd fmaudZglZ _]h p_gbeb h^gZdh hg qZklh f_gye f_klh jZ[hlulZddZdg_m`b\Zeky\ dhee_dlb\_>hhldjuluokkhjg_^hoh^behgZijhlb\;\g_rg_ hlebqZeky k^_j`Zgghklvx gh hg g_ fh] ijh^he`Zlv khljm^gbqZlv k ex^vfb ijhlb\ dhlhjuo lZbe\ ^mr_]em[hdmxh[b^m;ihklmibe\ debgbdmdZdjZaihke_hq_j_^ghci_j_f_guf_klZ jZ[hlugZqZevgbdydh[ukdZaZe_fm©iZjmhkljuokeh\ªohlylhldZd\uykgbehkv\h\k_b g_ ohl_e aZ ^_lv _]h ; [ue ohjhrbf k_fvygbghf fgh]h ihfh]Ze `_g_ ih ^hfm gh kqblZe qlh iheh\hc`bagvx_fmg_ke_^m_laehmihlj_[eylvlZddZdwlh\j_^bla^hjh\vxM`_\ rdhe_; bkiulu\Ze lhjfh`_gby hq_gv [hyeky dh]^Z _]h \uau\Zeb hl\_qZlv GZkljh_gb_ \_qgh dhe_[Zehkv lh hg ebdh\Ze lh ijboh^be \ hlqZygb_ ieZdZe <f_kl_ k l_f hg ij_\ur_ \k_]h klZ\be ihjy^hd ZddmjZlghklv _]h `_kldbf ijZ\behf [ueh ©dZ`^Zy \_sv ^he`gZ agZlv k\h_ f_klhªLh`_b \jZ[hl_hgqZklhkh[kl\_gghjmqghi_j_ibku\ZeiZjlbxk\h_]hbgkljmf_glZ qlh[u ^hfZ ©_s_ ihlj_gbjh\Zlvkyª Ihklhyggh ijh\_jye \udexq_gh eb we_dljbq_kl\h ]Za aZdjulu eb aZfdbgZ^\_jyo ; ihklmibe d gZf ih ih\h^m [heb \ k_j^p_ [hykv kf_jl_evgh]h bkoh^Z>hwlh]hg_j_^dh\uau\Zeg_hleh`gmxihfhsvh^bgjZa\jZq]hkiblZebabjh\Ze_]hk ih^haj_gb_fgZbgnZjdlFuihiulZebkvjZatykgblv_fmoZjZdl_j_]haZ[he_\ZgbyKhklhygb_ ^_ij_kkbb ijhreh ; h[j_e \_k_ehklv klZe Zdlb\g__ Gh klhbeh _fm ]^_lh mkeurZlv h aZ[he_\Zgbyo k_j^pZ dZd hg gZqbgZe hsmsZlv [hev H^gZ`^u m ; ihy\behkv djh\hl_q_gb_ ]_fhjjhb^Zevgh]h ijhbkoh`^_gby Hg [ue \ m`Zk_ [hyeky aZjZ`_gby djh\b ©dZeh\u_ fZkku ijhgbdgml\ djh\vª Khklhygb_ [hevgh]h \ blh]_ memqrbehkv gh eZ[bevguc l_fi_jZf_gl qZklZy kf_gZ gZkljh_gby hklZebkv Ihklhyggh ijb ex[hf gZkljh_gbb khojZgyebkv q_jlu i_^Zglbqghklb ZddmjZlghklv\ h^_`^_kdjmime_agZyih^]hlh\dZhjd_kljh\uoiZjlbc < h[jZa_`bagb;fh`ghij_`^_\k_]hm\b^_lvijhy\e_gb_pbdehlbfbbdhlhjZy^hklb]Z_l kl_i_gb ikbohiZlbb BaaZ ihklhygghc kf_gu gZkljh_gbc ; qZklh f_gye f_klh jZ[hlu ohly h[t_dlb\guo ijbqbg d wlhfm g_ [ueh I_^Zglbqghklv \gZqZe_ ijhy\eyeZkv g_ lZd j_adh gZijhlb\hgZ\uau\ZeZhljZ^gmx^h[jhkh\_klghklvh^gZdhiha^g__jZa\bekybihohg^jbq_kdbc g_\jha;hev\ h[eZklbk_j^pZaZklZ\beZ;m]em[blvky\ ihbkdb__ ijbqbg_]hgZqZebh[mj_\Zlv hiZk_gby Ijb e_q_gbb [ueh g_ljm^gh mklZgh\blv qlh kljZob h[mkeh\e_gu g_ lhevdh i_^Zglbqghklvx h[ke_^m_fh]h gh b pbdehlbfb_c dh]^Z ; [u\Ze \ ijbih^gylhf gZkljh_gbb hdZaZlvgZg_]hikbohl_jZi_\lbq_kdh_\ha^_ckl\b_[uehe_]dh\ iehohfgZkljh_gbbhgk ljm^hf ih^ ^Z\Zeky e_q_gbx I_^Zglbqghklv b lj_\h`guc l_fi_jZf_gl hlghkylky d jZaguf ikbobq_kdbfiehkdhklyf H^gZdh _kebh[Z \b^Z Zdp_glmZpbb gZ[ex^Zxlky m h^gh]h q_eh\_dZ \hafh`_g kmffbjmxsbc wnn_dl Wlh k\yaZgh k l_f qlh h^gbf ba \Z`g_crbo ijbagZdh\ ZgZgdZklbq_kdh]hoZjZdl_jZlZd`_y\ey_lkykljZoIjb\h`mkemqZchibkZggucjZg__;_j]fZg <Zevl_j J ]h^Z kgZqZeZ ke_kZjvbgkljmf_glZevsbd aZl_f bg`_g_j JZ[hlgbd ohjhrbcgh\ h[s_kl\_\k_]^Zg_m\_j_g\ k_[_ aZkl_gqb\ jZgh moh^bl ^hfhc >h kboihj g_ bf_e bglbfghc k\yab k `_gsbghc J kqblZ_l qlh hg \hafh`gh bfihl_gl < jZ[hl_ qj_a\uqZcghi_^Zglbq_gkdjmime_a_gqZs_^jm]bodhee_]dhgljhebjm_lkq_lZIjh\_jy_l]Za aZihju\ ih^\Ze_moh^y\ha\jZsZ_lkyqlh[um[_^blvky\k_ebbfk^_eZghihijZ\beZfM`_\ ^_lkl\_ J [ue [hyaeb\ [hyeky ]jhau Z kh[Zd [hblky ^h kbo ihj G_ \ughkbl \b^Z djh\b hl\hjZqb\Z_lkydh]^Zm g_]h[_jmldjh\v^eybkke_^h\ZgbyG_h[udgh\_gghim]eb\imklydh\u_ g_h`b^Zgghklb ijb\h^yl _]h \ lj_i_l Ihke_ ]ghcgh]h Zii_g^bpblZ klZe bkiulu\Zlv kljZo i_j_^ aZ[he_\Zgbyfb dbrhd qZklh _fm f_j_sbebkv y\e_gby i_jnhjZpbb dbrhd jZd ijyfhc dbrdb Ijb hsms_gbb ly`_klb \ ]heh\_ [hyeky ikbobq_kdh]h aZ[he_\Zgby NZdlbq_kdb bkiulu\ZekljZoijbfukebh gZjmr_gbbex[hcnmgdpbbhj]ZgbafZ< debgbd_fuihklZ\beb i_j_^ kh[hc p_ev g_ lhevdh bae_qblv J hl bihohg^jbq_kdh]h g_\jhaZ gh b ihfhqv _fm \ mklZgh\e_gbbkhpbZevguodhglZdlh\qlh\ g_dhlhjhckl_i_gbm^Zehkv Lj_\h`ghklv J f_rZeZ _fm `blv LZd ^h ]h^Z hg g_ bf_e bglbfguo hlghr_gbc k `_gsbghc DjZcgyy aZlhjfh`_gghklv \ khpbZevghf ieZg_ khq_lZeZkv m g_]h k ohjhrbfb ljm^h\ufb ihdZaZl_eyfb Lj_\h`ghklv b]jZeZ hljbpZl_evgmx jhev \ k\yayo k ex^vfb gh \ ijhn_kkbhgZevghf ieZg_ hgZ g_ qm\kl\h\ZeZkv DklZlb lj_\h`ghklv ©ij_^hojZgyeZª J hl \klmie_gby \ kihju k gZqZevkl\hf Ly`_eu_ lhjfh`_gby J h[tykgyxlky l_f qlh _]h lj_\h`ghklv [hyaeb\hklv ijhbkoh^beb ba ^\mo bklhqgbdh\ \h \k_o k\hbo ihklmidZo hg [ue \k_]^Z[hevrbfi_^Zglhfb m`_\ ^_lkl\_hlebqZeky[hyaeb\hklvx Khq_lZgb_ i_^Zglbqghklb b lj_\h`ghklb qZklh m`_ \ ^_lkl\_ \j_^gh hljZ`Z_lky gZ g_j\ghc kbkl_f_ AZbdb h[uqgh eb[h y\eyxlky ZgZgdZklZfb eb[h h[eZ^Zxl lj_\h`guf l_fi_jZf_glhf gh qZs_ \k_]h m gbo khq_lZ_lky b lh b ^jm]h_ M j_[_gdZ lj_\h`ghklv qZklh k\yaZgZ k gZijy`_gb_f ijb dhlhjhf \hagbdZxl gZjmr_gby kh klhjhgu Zjlbdmeypbb gh _keb j_[_ghd d lhfm `_ b i_^Zglbq_g hg gZqbgZ_l mkbe_ggh ke_^blv aZ j_qvx qlh _s_ [hevr_ mkm]m[ey_lgZjmr_gbyIjb\_^mijbf_jj_[_gdZaZ[he_\r_]heh]hg_\jhahfaZbdZgbygZihq\_ ^Zgghcdhf[bgZpbb O_evfml D e_l bf__l ^\mo feZ^rbo [jZlv_\ Oh^blv gZqZe \ ]h^Z ZddmjZlgh bkijZ`gylvky²ebrvk e_lK fZeuoe_lhq_gv[hyaeb\g_hohlghmoh^blba^hfmdhglZdlZkh k\_jklgbdZfbgZeZ^blvg_fh`_l;hblkyfZl_jbfZlvjZa^jZ`bl_evgZiehohkeurbl?kebh q_feb[hohq_lihijhkblvjh^bl_e_cih^kueZ_lfeZ^rbo[jZlv_\;hblky^_l_cdhlhju_qZklh [vxl _]h kh \ajhkeufb djZcg_ jh[hd < rdhe_ mqblky ohjhrh hg h^bg ba emqrbo mq_gbdh\ deZkkZ <_kvfZ ZddmjZl_g \ h^_`^_ wdhghfgh jZkoh^m_l dZjfZggu_ ^_gv]b =h\hjblv gZqZe \ ^\Z ]h^Z gh Zjlbdmeypby fgh]bo keh\ [ueZ g_ijZ\bevghc Iha`_ wlh i_j_reh \ aZbdZgb_ dhlhjh_ hkh[_ggh mkbebehkv dh]^Z hg ihklmibe \ rdhem _]h g_ij_ju\gh ^jZagbeb b k^_eZeb ihkf_rbs_fdeZkkZDh]^ZO_evfmlZ`mjbeb²hgieZdZeO_evfmlihklmibe\ gZr_^_lkdh_ hl^_e_gb_ihih\h^maZbdZgbyFukjZammklZgh\bebqlhhg\_kvfZ[hyaeb\b aZlhjfh`_gGZ^ ij_^eZ]Z_fufb aZ^Zgbyfb ^mfZe hq_gv ^he]h Ijb ljm^ghklyo m g_]h kjZam himkdZebkv jmdb Ijhrehfgh]h\j_f_gbihdZhgijb\udd gZr_fmi_jkhgZemFumkbe_gghke_^bebqlh[u^_lb g_ kf_yebkv gZ^ O_evfmlhf Hg \k_]^Z bkdZe h[s_gby k feZ^rbfb ^_lvfb Dh]^Z O_evfml k\udkyk h[klZgh\dhce_q_gb_ihrehohjhrh< ijhp_^mjub lj_gbjh\dbO_evfml \deZ^u\Ze fgh]hj\_gby I_j_^ gZfb j_[_ghd k h^ghc klhjhgu \_kvfZ imgdlmZevguc ^h[jhkh\_klguc \ mq_[_ ZddmjZlguc\ h^_`^_k ^jm]hc²qj_a\uqZcghlj_\h`gh[hyaeb\ucLjm^ghklbbkiulu\Z_fu_ bfijbh\eZ^_gbbj_qvxi_j_reb\ aZbdZgb_G_khfg_ggh\ lhli_jbh^fgh]h_lj_\h`beh_]h gZijbf_j jZa^jZ`bl_evghklv fZl_jb Ihklmie_gb_ \ rdhem gZkf_rdb ^_l_c mkm]m[beb aZbdZgb_ <_jhylgh lhevdh [hyaeb\hklb lj_\h`ghklb [ueh g_^hklZlhqgh qlh[u \ua\Zlv b ih^^_j`b\Zlv aZbdZgb_ gh \lhjZy Zdp_glmbjh\ZggZy q_jlZ O_evfmlZ \_eZ d ihklhygghfm dhgljhexaZk\h_cj_qvxb mkm]m[eyeZ\gmlj_gg__gZijy`_gb_Kj_^bkhq_lZgbcaZklj_\Zxsbo q_jl oZjZdl_jZ kh k\hckl\Zfb l_fi_jZf_glZ hkh[_ggh \Z`gZ aZklj_\Zxs_]bi_jlbfbq_kdZy dhf[bgZpby lZd dZd hgZ lZbl \ k_[_ hiZkghklv d\_jmeylhjgh]h jZa\blby GZqZeh khklhygby h[mkeh\eb\Z_lky aZklj_\Zxsbfb q_jlZfb Z ]bi_jlbfbq_kdZy `Z`^Z ^_yl_evghklb mkm]m[ey_l _]h jZa\blb_ ?keb [u fu bf_eb ^_eh lhevdh k aZklj_\Zxs_c Zdp_glmZpb_c lh ijbqbgu ihklhygguo `Zeh[ \ dhg_qghf kq_l_ bkq_jiZeb [u k_[y gh ]bi_jlbfbq_kdbc l_fi_jZf_gl aZklZ\ey_l bah[j_lZlv \k_ gh\u_ ih\h^u `Zeh\Zlvky < ijhlb\hiheh`ghklv iZjZghcyevghfm jZa\blbx d\_jmeylhjgh_ hlebqZ_lky oehihleb\hklvx km_leb\hc ^_eh\blhklvx LZdb_ ex^b gbdh]^Z g_ gZoh^yl ihdhy m gbo \k_ \j_fy ih\ur_ggh_ gZkljh_gb_ Ijb\h`m gZ[ex^_gb_ hibkZggh_jZg__AZc]_ Fh`_l [ulv lh]^Z aZsblhc hl ih^hajbl_evghklb b qj_af_jghc qm\kl\bl_evghklb _fm kem`be\_k_eucgjZ\Gh\ ^Zevg_cr_fklZebijhy\eylvkyiZjZghcyevgu_q_jluoZjZdl_jZ?]h hiZk_gby qlh q_j_a lj_sbgu \ kl_g_ ijhgbdZ_l m]Zjguc ]Za ih^ju\Zxsbc a^hjh\v_ `_gu [ueb y\gh [_ahkgh\Zl_evgu Gh hgb kem`beb iblZl_evghc kj_^hc _]h fZgbZdZevgh]h kmly`gbq_kl\Z Wlh mkm]m[eyehkv mom^r_gb_f a^hjh\vy `_gu b hg ijh^he`Ze g_mlhfbfh baukdb\Zlv \k_\hafh`gu_ gh\u_ deymau H]jhfguc fZl_jbZe kh[jZgguc bf ih ©^_emª ihdZau\Z_l dZd mihjkl\h D lZd b _]h ]bihfZgbZdZevgmx ©^_eh\blhklvª Ijb f_g__ agZqbl_evghc iZjZghcyevghc l_g^_gpbb dh]^Z ]bi_jlbfbq_kdb_ q_jlu h^_j`b\Zxl \_jo ijh]j_kkbjmxs__jZa\blb_g_gZ[ex^Z_lky;eZ]h^Zjy©l_dmq_klbªl_fi_jZf_glZ\ ihe_aj_gby lZdboex^_c\kydbcjZaihiZ^Z_lqlheb[hgh\h_JZa\blb_gZqbgZykv\kydbcjZah[ju\Z_lky \gh\v ijbh[j_lZy bgmx iZjZghcyevgmx gZijZ\e_gghklv Ijb\h`m gZ[ex^_gb_ hibkZggh_ ;_j]fZg Wfbev J e_l Ihke_ rdheu gZqZe mqblvky gZ f_oZgbdZ klZe ke_kZj_f < ] ih kh\_lm hlpZ j_rbe gZ ^ebl_evguc kjhd mclb \ Zjfbx Ih^ibkZe h[yaZl_evkl\h gZ e_l gh ijhkem`b\]h^Zmr_eGbdlh_]hg_m^_j`b\ZelZddZdhgihklhyggh\ukdZau\Zeij_l_gabbb `Zeh[uKgh\ZklZejZ[hlZlvke_kZj_f<kdhj_gZqZebkvdhgnebdluk gZqZevkl\hfIha^g__J hldjue kh[kl\_ggmx ke_kZjgmx fZkl_jkdmx ^_eh reh ohjhrh lZd dZd hg jZ[hlZe \k_]^Z hohlgh <h \j_fy \hcgu [ue fh[bebah\Zg kem`be j_\ghklgh gh b a^_kv hlqZyggh kkhjbeky k gZqZevkl\hf >_eh ^hreh ^h km^_[gh]h jZa[bjZl_evkl\Z <h \j_fy ijhp_kkZ _]h qZklbqgh hijZ\^Zeb gh i_j_\_eb kem`blv \ ^jm]h_ f_klh J jZkkdZau\Ze qlh fgh]b_ dhee_]b _]h aZsbsZeb Ihke_ \hcgu k ] jZ[hlZe \ k_evkdhf ohayckl\_ aZl_f aZ]hlh\bl_e_f ^j_\_kgh]hm]eyIhklhyggh`Zeh\Zekyqlh_]hg_ih\urZxlihkem`[_g_ih\urZebJbaaZ _]h^_yl_evghklbijbnZrbklkdhfj_`bf_GZdhg_p\ ][eZ]h^Zjykh^_ckl\bxrmjbgZ hg ihemqbe ^he`ghklv [mo]Zel_jZ B a^_kv \kdhj_ gZqZebkv dhgnebdlu hg aZy\eye h lhf qlh aZ\Ze_g ©fZkkhc jZ[hluª lj_[h\Ze ihfhsgbdZ dhlhjuc ih rlZlghfm jZkibkZgbx ij_^mkfhlj_g g_ [ue Lh]^Z J i_j_klZe \uihegylv iheh`_gguc h[t_f jZ[hlu kkueZykv gZ aZ[he_\Zgb_ ² ibkqbc kiZaf Dh]^Z k g_]h kgyeb qZklv h[yaZgghkl_c hg kgh\Z gZqZe ij_mki_\Zlv K\hb h[yaZgghklb J \hh[s_ \uihegye e_]dh A^_kv dZd b \_a^_ m J ihy\bebkv ^jmavylZddZdhg[ue©dhfiZg_ckdbfªq_eh\_dhfebrv[u_fmgb \q_fg_i_j_qbebH^gZdh klhbeh kf_gblvky gZqZevgbdm dZd ljm^ghklb ihy\bebkv \gh\v J qm\kl\h\Ze qlh ©aZ gbf \k_ \j_fyke_^ylªZ \_^vhgagZ_l^_ehemqr_q_f©wlhlgh\bqhdªKgh\Zm g_]hihy\bekyibkqbc kiZaf Lh]^Z hg b [ue gZijZ\e_g d gZf ^ey ikbohl_jZi_\lbq_kdh]h e_q_gby Fu kjZam mklZgh\bebqlhgZjmr_gbyibkvfZdZdlZdh\h]hg_[uehibkqbckiZaf[uenhjfhcijhy\e_gby ijhl_klZ DZd lhevdh h[ke_^m_fuc mkihdhbeky m g_]h ijhr_e b kiZaf J [ue q_eh\_dhf kZfhm\_j_gguf\_kvfZih^\b`gufl_fi_jZf_glgufk h`b\e_gghcfbfbdhc\ujZabl_evgufb `_klZfb \h \j_fy [_k_^u qZklh ]hjyqbeky [ue g_ \ f_jm fgh]hkeh\_g M g_]h mklZgh\bebkv ohjhrb_hlghr_gbyk ^jm]bfb[hevgufbHg[uekihkh[_g\k_ojZa\_k_eblvihaZ[Z\blvDh]^Z j_qvaZoh^beZh dhgnebdlZo\hagbdZ\rbogZijhly`_gbb\k_c_]h`bagb\bgmaZ©`bag_ggu_ g_m^Zqbª hg k\Zeb\Ze gZ ^jm]bo G_h[t_dlb\ghklv hlkmlkl\b_ kZfhdjblbqghklb ² _]h hlebqbl_evgZy q_jlZ ?keb J gZ wlh mdZau\Zeb hg k h`_klhq_gb_f \hajZ`Ze ijb\h^be kZfu_ jZaebqgu_ nZdlu ydh[u k\b^_l_evkl\mxsb_ h g_kijZ\_^eb\hf d g_fm hlghr_gbb ijhlb\ dhlhjh]hhgg_fh]g_ijhl_klh\Zlv< wlbfhf_glu\ g_fijh[m`^Zekyd\_jmeyglhghkm`^Ze g_lhevdhebpk\yaZgguok _]hdhgnebdlZfbgh[jZekykm^blvkhk\h_cdhehdhevgbb hfgh]hf ^jm]hf ;_ki_qghklv b `bag_jZ^hklghklv \h \j_fy [_k_^ gZ wlb l_fu ihdb^Zeb J gh h^gh rmleb\h_keh\hkihkh[gh[ueh\_jgmlv_fmohjhr__jZkiheh`_gb_^moZ =bihfZgbZdZevgucl_fi_jZf_glJ\uau\Ze_]h[hevrmxZdlb\ghklvhlkx^Zb kbfiZlbb hdjm`Zxsbo d g_fm Ljm^ghklb _]h k\yaZgu [ueb k dhgnebdlZfb gZ ihq\_ ©g_kijZ\_^eb\h]h hlghr_gbyª\ dhlhju_hgihklhyggh\klmiZegZex[hff_kl_jZ[hlubebkem`[uH^gZdhwlb kihjugbdh]^Zg_ghkbeb^ebl_evgh]hoZjZdl_jZIhdhgnebdlh\Z\g_dhlhjh_\j_fyihkihjb\ ©aZ k\hb ijZ\Zª J ijhklh f_gye f_klh jZ[hlu GZ i_j\uo ihjZo d g_fm gb]^_ g_ hlghkbebkv \jZ`^_[gh[he__lh]haZh[sbl_evghklvfgh]b_^Z`_ex[beb_]hHkh[ufdZq_kl\hfh[eZ^Z_l dhf[bgZpby aZklj_\Zgby b lj_\h`ghklb Lj_\h`ghklv k\yaZgZ k ijbgb`_gb_f q_eh\_q_kdh]h ^hklhbgkl\ZLZdb_ebpZkeZ[u[_kihfhsguAZklj_\Zxsb_ebqghklbg_fh]mlwlh]h\ug_klb hgb \kyq_kdb klZjZxlky \u^_eblvky aZ^_lv bo kZfhex[b_ hq_gv e_]dh LZd \hagbdZ_l k\_jodhfi_gkZpby WlZ dhfi_gkZlhjgZy j_Zdpby gZ[ex^Z_lky b ijb wfhlb\ghf l_fi_jZf_gl_ gh \k_ `_ qZs_ \k_]h hgZ khijh\h`^Z_l bf_ggh lj_\h`ghklv Ihkdhevdm \kydbc klZjZ_lky kdjulv k\hb keZ[hklb ih\_^_gb_ lZdbo ex^_c oZjZdl_jbam_lky mljbjh\Zgghklvx b g_dhlhjhc gZklhcqb\hklvx LZd fh`gh hlebqblv k\_jodhfi_gkZpbx hl h[uqgh]h `_eZgby ijhba\_klb \i_qZle_gb_>_lblZd`_fh]mljZa\b\Zlvk\_jodhfi_gkZpbxgZimkdZygZk_[y\Z`ghklvqlh[u kdjulvljmkhklvIjb\h`mhibkZgb_k^_eZggh_;_j]fZg FboZwev N ihklmibe d gZf \i_j\u_ \ e_l \ k\yab k `Zeh[Zfb gZ _]h g_\ughkbfh_ ih\_^_gb_ \ rdhe_ Hg ba g_ hq_gv ^jm`ghc k_fvb fZlv qj_a\uqZcgh j_\gb\Z hl_p \_kvfZ mijyf:ddmjZlghfhqblvkyFboZwevklZeebrv\ ]h^ZHghq_gv[hyaeb\[hyekykimkdZlvkyih e_klgbp_h^bghklZ\Zlvky^hfZ[hyekykh[Zd\h^u_kebgZ^h[uehi_j_clbfhklhgimkdZeky [_`Zlv ih fhklm \h \kx ijulv FeZ^rbo [jZlv_\ kbevgh j_\gh\Ze d jh^bl_eyf qZklh f_`^m ^_lvfb \hagbdZeb kkhju ?keb fZevqbdm g_ ^hklZ\Zehkv gZbemqr__ eZdhfkl\h beb djZkb\Zy b]jmrdZhg^hkZ^h\ZeaebekykqblZek_[yh[hc^_ggufHkh[_gghljm^ghijbrehkvFboZwex\ rdhe_ >_lb kjZam m\b^_eb \ g_f ljmkbrdm b gZqZeb _]h hlqZyggh ^jZagblv g_j_^dh [beb >_\hqdblh`_kf_yebkvgZ^gbfHgfklbebfjZa^Z\Zybkih^lbrdZlmfZdbiulZykvmsbigmlv ih^kdZfv_c?kebfeZ^rb_[jZlvy]h\hjbeb_fmj_adh_keh\hhglhlqZk`_[jhkZekybo[blv< rdhe_hgeZaZeihkdZfvyf[jhkZekyZi_evkbggufbdhjdZfbkihjbek mqbl_evgbp_c]jhabe_c dmeZdhfH^gZdhklhbehih^gylvgZg_]h]hehkdZdhggZqbgZeieZdZlvb\koebiu\ZymfhedZe Mki_\Z_fhklv \ rdhe_ ohjhrZy gh \ gZr_c rdhe_ ijb debgbd_ hg g_ kjZam klZe ohjhrh mqblvky FboZwev \hh[s_ ^he]h ijb\udZ_l d gh\hc h[klZgh\d_ b \gZqZe_ ijhba\h^bl \i_qZle_gb_aZfdgmlh]hk_j^blh]hj_[_gdZHk\hb\rbkvm gZkhgjZkkdZaZeb hjZaguok\hbo ijh^_edZo\ rdhe_?s_qZs_q_fgZmqbl_e_chgaebekygZkhmq_gbdh\Ghihq_fmbf_gghhg aebekyFboZwevh[tykgblvg_fh]K ^_lvfb\ gZr_fhl^_e_gbbhgeZ^begh[hevr_ evgme d \ajhkeuf m dhlhjuo bkdZe aZsblu FboZwev \uibkZeky \ m^h\e_l\hjbl_evghf khklhygbb gh q_j_a^\Z]h^Zihklmibed gZf\gh\vIjbqbgZhiylvlZ`_²g_^bkpbiebgbjh\Zgghklv\ rdhe_ QZklh hldZau\Zeky hl\_qZlv gZf gZ \hijhku bgh]^Z gZ[ex^Zebkv ijbklmiu g_h[tykgbfh]h ]g_\ZH^gZ`^u\ gZdZaZgb_aZdZdhclhijhklmihd_]h\h\j_fyi_j_ju\ZhklZ\beb\ deZkk_Hl aehklbhgko\Zlbefmkhjgmxdhjabgmb [jhkbe__ \f_kl_k kh^_j`bfufgZb]jZxsbo\h^\hj_ ^_l_c< hl^_e_gbbhg^jm`bel_i_jvk ^_lvfbg_\u^_j`Zggufbb ^Z`_]hj^bekyl_fqlhhgb _]h ©ijbgyebª K f_^k_kljZfb [u\Ze ]jm[ Gh k ^jm]hc klhjhgu dZd b \ i_j\uc jZa evgme d \ajhkeufjZ^h\Zekydh]^Z_]ho\Zebeb=jm[uogZjmr_gbcfum g_]hg_gZ[ex^Zeb FboZwey\ hkgh\ghfoZjZdl_jbam_llj_\h`ghklv[hyaeb\hklvGhd wlhfmijbkh_^bgy_lky _s_ b ih\ur_ggZy j_\ghklv hg j_\gh\Ze fZlv d feZ^rbf [jZlvyf aZ\b^h\Ze bf ² \ wlhf ijhy\eyxlkyq_jluaZklj_\Zxs_cebqghklb< rdhe_ljmkeb\hklvhq_gv\j_^beZfZevqbdmhg klZe ©fbr_gvxª ^ey k\_jklgbdh\ Gh wlh g_ aZklZ\beh _]h ^_j`Zlvky \ klhjhg_ qlh[u g_ ih^\_j]Zlvky gZiZ^dZf GZijhlb\ hg bkdZe \hafh`ghklb lZcdhf hlhfklblv b \hij_db \k_fm h^_j`Zlv\_joDjhf_lh]hlZdZylZdlbdZhldju\ZeZ\hafh`ghklv\u^_eblvkyh[jZlblvgZk_[y \gbfZgb_ LZd FboZwev ij_\jZlbeky \ hlty\e_ggh]h gZjmrbl_ey kihdhckl\by \k_c rdheu Imklv _]h ^jZagyl ba[b\Zxl imklv g_ o\ZlZ_l kbe aZsbsZlvky ² gh \k_ `_ hg hdZ`_lky \ p_glj_ \gbfZgby Z [ulv fh`_l b \hkobs_gby B hg iha\heye k_[_ [_ah[jZagbqZlv dZd gbdlh ^jm]hc<k__]h©ijh^_edbª[uebgZijZ\e_gugZlhqlh[uex[hcp_ghc\u^_eblvky<ijhq_f ih^oh^d mq_gbdZf\ gug_rg_crdhe_\_kvfZfy]dbclZdqlhihke_^kl\byFboZweyg_hkh[_ggh im]ZebI_j_oh^yd \ha[m^bfufZdp_glmbjh\ZggufebqghklyfaZf_qmij_`^_\k_]hqlha^_kv gh\h_dZq_kl\hZdp_glmZpbb\ khq_lZgbbk q_jlZfblh]hbebbgh]hl_fi_jZf_glZg_\hagbdZ_l h^gZdh \hafh`gu ex[hiulgu_ Zdp_glmZpbhggu_ jZagh\b^ghklb Ljm^g__ \k_]h ^bnn_j_gpbZpby\ l_okemqZyodh]^Z\ha[m^bfucoZjZdl_jkhq_lZ_lkyk Znn_dlb\gheZ[bevguf l_fi_jZf_glhf lZd dZd wibe_ilhb^gu_ ebqghklb kZfb ih k_[_ kdehggu d dhe_[Zgbyf \ gZkljh_gbbIjZ\^Z\ [eZ`_gghijbylgh_khklhygb_wibe_ilhb^u\iZ^Zxlj_^dh<hijhkh lhf dZdh\ `_ [m^_l j_amevlZl ijb khq_lZgbb wibe_ilhb^ghc ly`_eh\_kghklb k fZgbZdZevghc ih^\b`ghklvx [_amkeh\gh aZkem`b\Z_l \gbfZgby Y ihiulZxkv hl\_lblv gZ g_]h ijb\_^y ke_^mxsbckemqZc JZcgoZj^D]jh`^< rdhe_^\Z`^uhklZ\ZekygZ\lhjhc]h^\ijhq_fg_klhevdh baaZg_^hklZldZkihkh[ghkl_ckdhevdhbaaZg_`_eZgbyaZgbfZlvkyqZklhijhimkdZeaZgylby D`_gbeky\ ]h^Zghd lhfm\j_f_gbm g_]hm`_[ueh^\h_\g_[jZqguo^_l_cQ_j_a]h^Z hgjZa\_eky`_gZihklhygghmkljZb\ZeZkp_guj_\ghklbb hg__ ba[b\ZeHlwlh]h[jZdZlh`_ [ue j_[_ghd :ebf_glu \uieZqb\Zebkv \k_f ljhbf ^_lyf \_kvfZ g_j_]meyjgh D hlebqZeky ih\ur_gghck_dkmZevghc\ha[m^bfhklvxKhklhy\ [jZd_hgihg_kdhevdmjZa\ ^_gvlj_[h\Zem `_gu kh\_jr_gby iheh\h]h ZdlZ H[t_dlu _]h \h`^_e_gbc qZklh f_gyebkv ;u\rb_ _]h ex[h\gbpu ml\_j`^Zeb qlh hg ]jm[ b kdehg_g d gZkbevkl\_gguf ^_ckl\byf ?keb gZijbf_j `_gsbgZ hldZau\ZeZkv hl kh\_jr_gby iheh\h]h ZdlZ hg `_klhdh __ ba[b\Ze < jZ[hl_ D ihdZau\Ze k_[y k ohjhr_c klhjhgu ?keb h^gZdh qlheb[h _fm [ueh g_ ih \dmkm lh hg ihijhklmhklZ\eyejZ[hq__f_klhb moh^beDjhf_lh]h\ jZ[hq__\j_fyhgqZklh[helZe\kydbc \a^hj ex[be kf_rblv lh\Zjbs_c K ^hfZrgbfb `b\hlgufb h[jZsZeky aZ[hleb\h gh jZahaeb\rbkv `_klhdh bo ba[b\Ze Ij_^f_lu ^hfZrg_]h h[boh^Z \ ijbiZ^d_ aehklb r\ujye dm^ZihiZeh?kebdhee_]bjZaukdZ\Dijhkbeb_]h\_jgmlvkygZjZ[hq__f_klhwlh\uau\Zeh ihlhdbg_p_gamjghc [jZgb< ]Dkm^bebihih\h^mdjZ`bkh\aehfhfB \^Zevg_cr_c [bh]jZnbb aZ gbf qbkeblky g_kdhevdh djZ` GZdhg_p \ ] hg ij_^klZe i_j_^ km^hf ih h[\bg_gbx \ ihiuld_ bagZkbeh\Zgby b m[bckl\_ Dh]^Z `_gsbgZ dhlhjmx hg ih[m`^Ze d kh`bl_evkl\m _fm hldZaZeZ hg __ aZ^mrbe K wlbf h[ke_^m_fuf y ihagZdhfbeky dh]^Z _fm [uehe_lDh]^Zk gbf]h\hjbebh _]hkm^bfhklbhgj_Z]bjh\Zehq_gv[mjghaZy\eyyqlhwlh g_ bf__l hlghr_gby d ke_^kl\bx Gh aehklv kdhjh ijhoh^beZ b lh]^Z hg klZgh\beky \_k_e kf_yeky rmlbe L_kl gZ ijh^mdlb\ghklv gZf ijh\_klb __ m^Zehkv lZd dZd D k bjhgbq_kdbfb aZf_qZgbyfb hldZaZeky J_amevlZlu ijh\_jdb bgl_ee_dlZ \iheg_ m^h\e_l\hjbl_evgu_ Ih nbabq_kdhfmjZa\blbxDdjmiguc]jm[h\Zlhkdhehq_ggucfm`qbgZk hq_gv]jm[ufbq_jlZfb ebpZ M D gZ[ex^Z_lky iZlheh]bq_kdZy jZa^jZ`bl_evghklv kh kdehgghklvx d gZkbevkl\_gguf ^_ckl\byf < kn_j_ ljm^Z ijhy\eye [hevrmx g_^bkpbiebgbjh\Zgghklv < gZkbevkl\_gguo ^_ckl\byo [ue djZcg_ g_k^_j`Zg D wlhfm ijbkh_^bgyebkv [_am^_j`gu_ iheh\u_ \e_q_gby >Z`_ _keb bkoh^blv ba ^bZ]ghaZ wibe_ilhb^ghc ikbohiZlbb \k_ jZ\gh \ha[m^bfhklv b g_mklhcqb\hklvikbobdbD\ujZ`_guqj_a\uqZcghj_adhIhke_^g__h[tykgy_lkyl_fqlhm D h^gh\j_f_ggh [ueb b ]bi_jlbfbq_kdb_ q_jlu Hg [ue kdehg_g rmlblv \h \j_fy jZ[hlu iulZykvjZa\e_qvb jZkkf_rblvkhljm^gbdh\<h\j_fyh[ke_^h\Zgbyijh\h^b\r_]hkyfghxhg [ue \_k_e hlimkdZe xfhjbklbq_kdb_ aZf_qZgby Gh \ fukeyo b ihklmidZo m g_]h g_ [ueh `b\hklb hgZ iheghklvx i_j_dju\ZeZkv wibe_ilhb^ghc ly`_eh\_kghklvx GZ^h iheZ]Zlv qlh ih^Zleb\hklv \e_q_gbyf h[tykgyeZkv m D wibe_ilhb^gu_ gZqZehf dhlhjh_ mkbeb\Zehkv ]bihfZgbZdZevgufb q_jlZfb HljbpZl_evgh \b^bfh kdZau\Z_lky khq_lZgb_ \ha[m^bfh]h oZjZdl_jZb ^bklbfbq_kdh]hl_fi_jZf_glZWlhih^l\_j`^Z_lkyh^gbfbafhbogZ[ex^_gbc =_joZj^m R dh]^Z y k gbf ihagZdhfbeky [ueh ]h^ Hg m`_ ijb\e_dZeky d km^_[ghc hl\_lkl\_gghklb ih ih\h^m djZ`b \ufh]Zl_evkl\Z h[fZgZ aehmihlj_[e_gby kem`_[guf iheh`_gb_f b jZkljZlu R hlebqZeky bgl_ee_dlmZevghc ly`_eh\_kghklvx gZ ijhkl_crb_ \hijhkuhl\_qZehq_gvf_^e_gghk [hevrbfbiZmaZfb<h\j_fybkiulZgbygZijh^mdlb\ghklv gZa\Ze aZ fbg \k_]h ij_^f_lh\ K l_klhf ih kjZ\g_gbx ihgylbc hg kijZ\beky m^h\e_l\hjbl_evgh gh \ l_kl_ gZ dhf[bgZlhjbdm ihl_ji_e nbZkdh lZd dZd g_ fh] khklZ\blv ijhkl_cr_]h ij_^eh`_gby ba lj_o keh\ OZjZdl_jgh lh qlh bf_ggh dhf[bgZlhjgu_ bgl_ee_dlmZevgu_^Zggu_m RhlklZ\Zeª<h\j_fyh[ke_^h\Zgby R [ue hq_gv g_ijb\_leb\ m]jxf \ jZa^jZ`bl_evghklb g_ aZf_qZehkv GZijhlb\ hg ]h\hjbe h lhf qlh kdehg_g d gZ\yaqb\ufjZafure_gbyfly`_euf^_ij_kkb\gufjZkkljhckl\Zfdh]^Z\kihfbgZxlkyjZagu_ i_qZevgu_ kh[ulby dZd gZijbf_j dhgqbgZ hlpZ ^he]Zy jZaemdZ k j_[_gdhf beb _]h R ij_klmigu_^_ygbyDh]^Zj_qvaZoh^beZh ihke_^gboR\iZ^Ze\ khklhygb_^_ij_kkbbhg[ue [ebahdd ke_aZfijbihiuld_k^_j`Zlvke_aujhlbkdZ`Zeky]jbfZkhchg^he]hkb^_ehimklb\ ]heh\m Wibe_ilhb^gZy aZf_^e_gghklv m R mkbeb\ZeZkv ^_ij_kkb\ghklvx Bf_ggh ihke_^gbf dhfihg_glhf _]h ikbobq_kdhc kljmdlmju fh`gh h[tykgblv qlh kl_i_gv gZdZam_fhklb ijhklmidh\h[ke_^m_fh]h[ueZg_klhev\ukhdZdZdm ^jm]bowibe_ilhb^h\Fgh]hklhjhgghklv _]hij_klmiguo kdehgghkl_c fh`gh[ueh [u kjZ\gblv k dZjlbghc wibe_ilhb^guoih^jhkldh\ h^gZdh \ hlebqb_ hl gbo m R hlkmlkl\h\Zeb ijhy\e_gby gZkbeby Fg_ ^mfZ_lky qlh km[^_ij_kkb\ghklv l_fi_jZf_glZ R ^_ckl\h\ZeZ hkeZ[eyxs_ gZ \kiurdb ]g_\Z b wlh ©ij_^hojZgyehª_]hhlkh\_jr_gbyZdlh\gZkbebyH^gZdh©]hlh\ghklvd ij_klmighklbªwlbfg_ hkeZ[eyeZkvhgZebrvgZijZ\eyeZkv\ ^jm]h_jmkehH[ke_^m_fuc\hafh`gh_s_[hevr_q_f wibe_ilhb^u [ue kdehg_g d kh\_jr_gbx gZdZam_fuo ^_ckl\bc lZd dZd hg [hevr_ hsmsZe g_m^h\e_l\hj_gghklvhljbpZl_evgufbklhjhgZfb`bagbLZdbfh[jZahffh`ghij_^iheh`blv qlh aZ\bkbfhklv hl wibe_ilhb^guo \e_q_gbc ijb\_eZ R d m]heh\guf ijhklmidZf dhlhju_ kh\_jrZebkv bfimevkb\gh [m^mqb gZ\yaZggufb kblmZpb_c gh km[^_ij_kkb\guc dhfihg_gl l_fi_jZf_glZ hij_^_ebe hkh[uc oZjZdl_j _]h ij_klmiguo ^_ckl\bc M h^gh]h h[ke_^m_fh]h k lZdhc `_ dhf[bgbjh\Zgghc kljmdlmjhc ebqghklb hibkZg Rbjf_jhf \ gZr_f kh\f_klghf ljm^_ f_gvr_ [ue \ujZ`_g \ha[m^bfuc oZjZdl_j gh \ [hevr_c kl_i_gb ijhy\eyebkv ^bklhgbq_kdb_ q_jlu <_jhylgh wlbf fh`gh h[tykgblv qlh \ ^Zgghf kemqZ_ g_ gZ[ex^Zehkv lZdhc yjdh \ujZ`_gghc aZ\bkbfhklb h[ke_^m_fh]h hl \e_q_gbc b qlh ^_ij_kkb\gh_ gZqZeh g_ lhevdhkgb`Zeh\ha[m^bfhklvghb hdZau\Zehg_dhlhjh_[eZ]hijbylgh_\ha^_ckl\b_gZijbf_j h[mkeh\eb\Zehk_jv_agh_hlghr_gb_d h[yaZgghklyf O_evfmlPe_lk\yabklH[eZ^Z_lkihdhcghcf_^ebl_evghcikbohfhlhjbdhc;Z[mrdZ k fZl_jbgkdhc klhjhgu kljZ^ZeZ kbevgufb ijbklmiZfb fb]j_gb [hevr_ h [he_agyo \ k_fv_ gbdZdbo k\_^_gbc g_l Ihy\beky gZ k\_l ijb ihfhsb d_kZj_\h]h k_q_gby < \hajZkl_ e_l i_j_g_k g_kdhevdh ijbklmih\ ©]eZaghc fb]j_gbª <h \j_fy ijbklmih\ \kydbc jZa ijbf_jgh \ l_q_gb_ qZkZ l_jye aj_gb_ gZ h^bg ]eZa Mqbeky \ gZqZevghc rdhe_ hlebqgh iha^g__ ² m^h\e_l\hjbl_evgh \k_]^Z [ue ^bkpbiebgbjh\Zgguf kihdhcguf j_[_gdhf Ijhn_kkbx k\yabklZ ijbh[j_e \ `_e_agh^hjh`ghc ki_prdhe_ k\yab wdaZf_gu k^Ze gZ ©hlebqghª RdheZ ^Z`_ gZijZ\beZ _]h \ \ma gZ nZdmevl_l bg`_g_jh\ k\yab h^gZdh hg ih fZl_jbZevguf khh[jZ`_gbyf \ugm`^_g [ue hldZaZlvky K ] P kem`bl \ Zjfbb ]^_ jZ[hlZ_l ih ki_pbZevghklb Q_j_a ]h^Z ihke_ ihklmie_gby \ Zjfbx P h[jZlbeky \ gZrm debgbdm P ² f_^ebl_evguc fZehih^\b`guc fm`qbgZ ;_a hkh[h]h \g_rg_]h ih\h^Z hg g_ bs_l h[s_kl\Z gh ^Z`_ b ijb gZebqbb klbfmeZ \dexqZ_lky \ h[s_gb_ \_kvfZ lm]h P hq_gv ex[bl ^_l_c `b\hlguo kh[kl\_ggufb mkbebyfb _s_ ih^jhkldhf kfZkl_jbe k_[_ Zd\Zjbmf dhlhjuc kms_kl\m_lb ihk_c ^_gv P g_evay oZjZdl_jbah\Zlv dZd q_eh\_dZhlhj\Zggh]h hl dhee_dlb\Z ohly hg [_amkeh\gh hq_gv fZeh dhglZdl_g Z gZ l_kgu_ dhglZdlu \hh[s_ g_kihkh[_g KZfuc gbqlh`guc ih\h^ \uau\Z_l m g_]h \ha[m`^_gb_ klj_kk ohly hg hlebqgh hl^Z_l k_[_ hlq_l \ lhf qlh kZf ih\h^ ©\u_^_ggh]h ycpZ g_ klhblª Dh]^Z P h[gZjm`be qlh g_\_klZ _]h h[fZgu\Z_lhg\iZe\ [_kkbevgmxyjhklvK wlh]hfhf_glZhgb gZqZeiblv\ijhq_f\uib\dZ ^he]h_ \j_fy g_ \uoh^beZ aZ jZfdb ^ha\he_ggh]h Gh b \ wlhc gZqZevghc klZ^bb _]h g_j_^dh ij_ke_^h\Zebfukebh kZfhm[bckl\_H^gZ`^u\ khklhygbbhivyg_gbyhgko\Zlbek lmZe_lgh]h klhebdZ [jbl\m kh[bjZykv i_j_j_aZlv k_[_ \_gu Dh]^Z [jbl\m m g_]h hlgyeb hg klZe \u^_j]b\Zlvijm`bgubafZljZpZqlh[ubfbjZgblvk_[yGh_]hm^Zehkvijb\_klb\ qm\kl\h GZke_^mxsbc^_gvhggZqbklhaZ[ueh ijhbkr_^r_fb [uehr_ehfe_gdh]^ZfZlvjZkkdZaZeZ _fm h ih^jh[ghklyo <k_ g_ijbylghklb dhgqZebkv m P ihoh^hf \ ib\gmx Ib\h g_j_^dh [ueh _fmijhlb\gh \uau\Zehlhrghlmghhgijh^he`Zeiblv©gbqlhf_gylZdg_mkihdZb\ZehªK ^jm]hcklhjhguhivyg_gb_^_ckl\h\Zeh gZg_]h ^_ijbfbjmxsbf h[jZahfhg qm\kl\h\Ze k_[y ©\k_fb ihdbgmlufª qZklh ihy\eyebkv fukeb h kZfhm[bckl\_ Jh^bl_eb P \ dhgp_ dhgph\ h[jZlbebkv d hnbp_jm _]h \hbgkdhc qZklb ohly hg a^_kv gb jZam _s_ g_ [ue aZf_q_g \ aehmihlj_[e_gbb Zedh]he_f Hg ijbr_e d gZf gZ ijb_f \ khijh\h`^_gbb ^\mo hnbp_jh\ h[Z hgb jZko\Zeb\Zeb q_klghklv P _]h kdjhfghklv ]hlh\ghklv ihfhqv lh\Zjbsm ljm^hex[b_ b hlebqgmx ijhn_kkbhgZevgmx kghjh\dm GZqZevkl\h ieZgbjh\Zeh hlijZ\blv _]h \ \ma ^ey mkh\_jr_gkl\h\ZgbyagZgbcghPihg_ba\_klgufijbqbgZfgZhlj_ahldZaZekyLh\Zjbsbih \hbgkdhc qZklb ih^_ebebkv k gZfb qlh ihl_jylv lZdh]h jZ[hlgbdZ bf [ueh [u hq_gv `Zev ijhkbebgZk_]hg_ij_f_ggh\ue_qblv Aehmihlj_[e_gb_ Zedh]he_f m wlh]h f_^ebl_evgh]h ly`_eh\_kgh]h fm`qbgu h[tykgy_lky _]h \ha[m^bfhklvx GZjy^m k wlbf ke_^m_l hlf_lblv b iheh`bl_evgu_ klhjhgu _]h ebqghklb \_kvfZ^h[jhkh\_klgh_hlghr_gb_d k\hbfh[yaZgghklyf^jm`_kdbcdhglZdlk lh\ZjbsZfbih qZklbIhke_^gb_q_jlufukdehgguijbibku\Zlv^_ij_kkb\ghfmgZqZemHghkihkh[kl\h\Zehb lhfm qlh \h \j_fy bkiheg_gby kem`_[guo h[yaZgghkl_c hg \k_]^Z kihkh[_g [ue kh\eZ^Zlv k ly`_euf khklhygb_f \ha[m`^_gby Gh _]h ly`_eu_ aZihb ihiuldb kZfhm[bckl\Z k\b^_l_evkl\mxl h lhf qlh ^_ij_kkb\gh_ gZqZeh m P y\ey_lky g_ lhevdh [eZ]hijbylguf nZdlhjhfY jZkiheZ]Zx_s_jy^hfbgl_j_kguonZdlh\GZijbf_jlj_\h`gucl_fi_jZf_glg_ fh`_l ^_ckl\h\Zlv g_cljZebamxsbf h[jZahf gZ \ha[m^bfmx ebqghklv LZd lj_\h`ghklv h[ke_^m_fh]h hibku\Z_fh]h gb`_ ebrv ih\_jgmeZ _]h ij_klmigu_ kdehgghklb \ ^jm]mx klhjhgm BhZobf J e_l M`_ j_[_gdhf bkiulu\Ze kljZo i_j_^ [he__ kbevgufb lh\ZjbsZfb kemqZehkv qlh [ue ^ey gbo ©fbr_gvxª J [hyeky lZd`_ kh[Zd l_fghlu KimkdZykv \ ih]j_[ gZqbgZei_lvqlh[uijh]gZlvkljZobJ[uehe_ldh]^Zhg^g_faZr_e\ d\ZjlbjmagZdhfhc k_fvb b mdjZe lZf fZjhd we_dljh[jbl\m Z\lhfZlbq_kdbc dZjZg^Zr jmqgu_ qZku b emim < lhf `_ ]h^m hg h[hdjZe ^hfbdb gZ iylb ijb]hjh^guo ^Zqguo mqZkldZo [jZe lZf \ hkgh\ghf ijh^mdlu IjhimkdZe aZgylby \ ijhnmqbebs_ Dh]^Z fZlv ihlj_[h\ZeZ qlh[u hg ijbg_k kijZ\dmh k\hboihk_s_gbyoaZih^ibkvxmqbl_eyJih^^_eZeih^ibkvqlhdklZlbijh^_eu\Ze g_h^ghdjZlgh<h\j_fyaZgylbc\ mqbebs_hgjZat_a`Zeih]hjh^mgZ\_ehkbi_^_Jih^^_eZe ^Zlmjh`^_gby\ mq_gbq_kdhf[be_l_qlh[u_]himkdZeb\ dbghgZk_Zgku^ey\ajhkeuo< e_lg_f \hajZkl_ J kgh\Z ihoblbe ba d\Zjlbju jmqgu_ qZku hiylv jZat_a`Ze gZ qm`hf \_ehkbi_^_ ih ]hjh^m \_ehkbi_^ hg \ijhq_f \_jgme \eZ^_evpZf Ijbreh \j_fy ihklmiZlv mqblvkyqlh[uijbh[j_klbki_pbZevghklv<gZqZe_hgj_rbeklZlvi_dZj_fgh\kdhj_[jhkbe wlmb^_x\ p_oZo[uehq_j_kqmj`ZjdhAZl_fhgi_j_ijh[h\Zefgh`_kl\hijhn_kkbcgh_^\Z ihijh[h\Z\ [_kijbqbggh bkq_aZe k jZ[hlu < \hajZkl_ ² e_l m g_]h [ueh aZj_]bkljbjh\ZghdjZ`\ e_l²_s_< d\Zjlbjuhg\oh^beeb[hk ihfhsvxhlfuqdb eb[hdh]^Zohay_\ZhklZ\eyeb\ aZfhqghckd\Z`bg_dexqDjZe^_gv]bijh^mdlu J khh[sbe qlh dh]^Z _fm ij_^klZ\eyeZkv \hafh`ghklv h[hdjZklv d\Zjlbjm hg g_ jZa^mfu\Ze Z lml `_ ^_ckl\h\Ze Ebrv iha^g__ ijboh^beh khagZgb_ qlh hg kgh\Z kh\_jrbe g_ihjy^hqguc ihklmihd D gZkbebx J g_ ijb[_]Ze gbdh]^Z < ^_lkl\_ dh]^Z _]h [beb \ g_f aZdbiZe]g_\ghhgg_hl\_qZeh[b^qbdZfHgb k_cqZk[ukljh\ha[m`^Z_lky]hlh\\ wlbfbgmlu r\ujylvgZihe\k_qlhihiZ^Z_lkyih^jmdmIjhb]ju\Zy\ dZjluhglZdaeblkyqlhg_fh`_l ijh^he`Zlvb]jm<h\j_fy[_k_^uJ\ h[s_f[uekdmigZkeh\Zg_hohlghhl\_qZegZ\hijhku Bgl_ee_dl_]hhdZaZekygb`_ghjfugh\k_`_h ^_[bevghklbg_fh]eh[ulvb j_qb< ijh[_gZ ijh^mdlb\ghklvaZfbggZa\Zeij_^f_lh\ Ij_klmighklvJh[tykgy_lkyl_fqlhhgdZdwibe_ilhb^g_kihkh[_g[hjhlvkykhk\hbfb \e_q_gbyfb Hlkmlkl\b_ gZkbevkl\_gguo ^_ckl\bc k\yaZgh k gZebqb_f q_jl lj_\h`ghklb Ihwlhfm hg iha\heye ba[b\Zlv k_[y ihwlhfm iha`_ _]h dhee_]b klZeb gZau\Zlv _]h ©ljmkhfª =g_\ aZdbiZe \ g_f f]gh\_ggh \ ihju\_ ]g_\Z hg [jhkZe gZ ihe ij_^f_lu gh gbdh]^Z baaZ kljZoZ g_ klZgh\beky Z]j_kkb\guf Fh`gh ij_^iheh`blv qlh bfimevkb\ghklv J j_Zebah\ZeZkv \ djZ`Zo lZd dZd hg g_ fh] hlj_Z]bjh\Zlv \ hldjuluo ko\ZldZo kh k\hbfb g_^jm]Zfb >h kbo ihj y jZkkfZljb\Ze khq_lZgby jZaebqguo oZjZdl_jh\ b l_fi_jZf_glh\ lZd dZd hgb ^Zxl ]hjZa^h [he__ aZf_lgu_ j_amevlZlu Khq_lZgb_ l_o beb bguo k\hckl\ l_fi_jZf_glZ gbq_]h kms_kl\_ggh gh\h]h g_ ^Z_l ihemqZ_lky kdhj__ kf_rZgguc lbi Zdp_glmZpbbijbdhlhjhfljm^ghhl^_eblvh^bgl_fi_jZf_glhl^jm]h]hGZijbf_jj_Zdpbbk dhlhjufb fu klZedb\Z_fky ijb lj_\h`ghklb b wfhlb\ghklb kbevgh_ \hkijbylb_ ly`_euo i_j_`b\Zgbc ke_aeb\hklv b l ^ fh]ml lZd`_ gZ[ex^Zlvky ijb ^bklbfbq_kdhf b pbdehlbfbq_kdhf l_fi_jZf_glZo ?keb Zdp_glmZpby k\h^blky d h^ghc yjdhc hkh[_gghklb l_fi_jZf_glZ lh \k_ j_Zdpbb ij_^klZ\eyxl kh[hc _^bgmx \_kvfZ q_ldmx dZjlbgm Ijb khq_lZgbyo `_ khhlghr_gby j_Zdpbc klZgh\ylky au[dbfb H^gZdh gh\u_ j_Zdpbb ijb wlhf g_ \hagbdZxl<hlihq_fmg_h[yaZl_evgh\ wlbokemqZyohij_^_eylvih\_^_gb_q_eh\_dZbkoh^yba khq_lZgbcq_jljZaguol_fi_jZf_glh\Ke_^m_lgZihfgblvlZd`_qlh]bi_jlbfbyb ^bklbfby gZijbf_j h[eZ^Zxl k\hckl\hf \aZbfgh mgbqlh`Zlvky Y ijb\_^m ebrv h^gm dhf[bgZpbx l_fi_jZf_glh\ ^Zxsmx ^h\hevgh oZjZdl_jgmx dZjlbgm >_eh \ lhf qlh fh`gh [ueh [u kqblZlv jh^kl\_ggufb ©kqZkleb\uc l_fi_jZf_glª l _ h^bg ba ihexkh\ Znn_dlb\gh eZ[bevgh]h l_fi_jZf_glZ b ]bihfZgbZdZevguc l_fi_jZf_gl GZ kZfhf `_ ^_e_ j_qv b^_l h q_jlZo\ dhjg_jZaebqguoQ_ldhjZa]jZgbqb\Zxlkyhgbb lh]^Zdh]^Z\klj_qZxlky\ khq_lZgbb Ijb\_^mhibkZgb_h[ke_^m_fh]hk^_eZggh_Rbjf_jhf\ gZr_fdhee_dlb\ghfljm^_ Jm^b F e_l ihimeyjguc Zjlbkl wkljZ^u G_\ukhdbc dj_idh]h keh`_gby k ]mklhc ^ebgghcr_\_exjhcj_qvk\hxkhijh\h`^Z_ljZafZrbklufbiZl_lbq_kdbfb`_klZfb>_^mrdZ b [Z[mrdZ[uebex^vfb\_k_eufbb [_ki_qgufbFZlvdhe_[ZeZkvf_`^m^\mfyihexkZfb² \_k_ehklbb k_jv_aghklbHl_p²`bag_jZ^hklgucij_^ijbbfqb\ucq_eh\_dLZdh\b feZ^rbc [jZlFIylgZ^pZlbe_lgyy^hqv²^_\hqdZlboZyk_jv_agZyg_hq_gvijb\_leb\Zy>jm]Zy^hqv e_l gZkljh_gZ qZs_ \k_]h hilbfbklbq_kdb KZf h[ke_^m_fuc \k_]^Z \_k_e g_\_jhylgh Zdlb\_g jZa]h\hjqb\ m\e_dZ_lky kZf b \k_o \hdjm] m\e_dZ_l < h[s_kl\_ hg \k_]^Z \ p_glj_ \gbfZgby ^h[jh^mr_g ^h[j aZ[hleb\uc fm` b hl_p Bgh]^Z bf h\eZ^_\Z_l \ha[m`^_gb_ ih kh\_jr_gghgbqlh`ghfmih\h^m< ih^h[ghfkhklhygbbhgfh`_l^Z`_ih[blv`_gm>_lkl\hb xghklvFgbq_fg_ijbf_qZl_evguMki_\Z_fhklv\ rdhe_kj_^gyyKhmq_gbdbex[bebFhg ihevah\Zekym gbom\Z`_gb_fb Z\lhjbl_lhfmf_e\k_om\e_qvIhhdhgqZgbbrdheuFihr_e ih lhj]h\hc qZklb bamqZe wdhghfbdm a_jgh\h]h ohayckl\Z AZl_f ² \hcgZ Ih hdhgqZgbb \hcgu ihke_ ^_fh[bebaZpbb hldjue fZkl_jkdmx [ulh\uo ba^_ebc ]^_ aZgbfZeky i_j_jZ[hldhc \h_ggh]h bfms_kl\Z gZ ij_^f_lu ^hfZrg_]h h[boh^Z Hg aZgbfZeky lZd`_ bah[j_l_gb_fb]j^ey^_l_cb jZaebqguob]jmr_dkhkeh`gufbf_oZgbafZfbH^gh\j_f_gghF jZajZ[Zlu\Ze mkh\_jr_gkl\h\Zgguc yaud ^ey ]emohg_fuo lZd dZd ihke_ \hcgu [ueh fgh]h ]emohg_fuobg\Zeb^h\ Wlhl yaud ^he`_g [ue aZf_gblv h[uqguc yaud ]emohg_fuo agZdb `_kludhlhjh]hfZehwkl_lbqguH k\h_cgh\hckbkl_f_Fba^Z\ZegZk\hbkj_^kl\Z[jhrxju H^gZdhijZ\bl_evkl\hg_ijhy\eyehgbdZdh]hbgl_j_kZd _]hgh\hfmfbfbq_kdhfmyaudmLh]^Z F g_ ^he]h ^mfZy j_rbe ijbf_gblv _]h ^ey k\hbo kh[kl\_gguo gm`^ GZ hkgh\_ bah[j_l_ggh]h bf yaudZ hg jZajZ[hlZe kbkl_fm wkljZ^guo ljxdh\ b aZ dhjhldh_ \j_fy klZe m k_[y gZ jh^bg_ b aZ jm[_`hf agZf_gbluf ©ykgh\b^ysbfª F lsZl_evgh kh[bjZ_l b ojZgbl k\hx ©ij_kkmª ?]h Zjlbklbq_kdh_ bfy klZeh kbf\hehf hkh[uo kihkh[ghkl_c b fgh]b_ kheb^gu_ ]Za_lu i_qZlZeb h[rbjgu_ \hklhj`_ggu_ j_p_gabb h _]h \uklmie_gbyo G_dhlhju_ i_jbh^bq_kdb_ ba^Zgby aZ^Z\Zeb ^Z`_ hklhjh`guc \hijhk g_ ke_^m_l eb ^_fhgkljZpbb F kqblZlv^hdZaZl_evkl\hflh]hqlhkms_kl\m_lfbjk\_jot_kl_kl\_ggh]h <uklmie_gbyFijh^he`Zxlkyihk_c^_gvHgg_bkkydZ_f\ kfuke_gh\uob^_caZ^Zeky p_evx \dexqblv k\hc ghf_j \ ijh]jZffu dbgh b l_e_\b^_gby ?^bgkl\_ggh_ q_f bgh]^Z ij_ju\Z_lky k_jby [e_klysbo mki_oh\ F ² wlh wdkp_kku k\yaZggu_ kh aehmihlj_[e_gb_f Zedh]he_f?s_xghr_chggZqZeiblvib\h\ ^h\hevgh[hevrbokh\j_f_g_f\k_\hajZklZxsbo dhebq_kl\ZoG_ijhoh^behb g_^_ebqlh[uhgg_gZib\Zekyh^bg^\ZjZaZ^h[_kqm\kl\by<h \j_fy hivyg_gby hg klZgh\beky Z]j_kkb\guf ijbklZ\Ze d ijbkmlkl\mxsbf iulZeky aZl_ylv ^jZdm@_gZ[he_ag_gghj_Z]bjh\ZeZgZ_]hih\_^_gb_\ ivyghfkhklhygbbIh__gZklhygbxF y\beky d gZf gZ ijb_f Fu ihf_klbeb _]h \ klZpbhgZj ]^_ hg kjZam `_ ©ijb`bekyª kh[bjZe \hdjm] k_[y [hevguo hlimkdZe ]jm[h\Zlu_ rmlhqdb ^_fhgkljbjh\Ze nhdmku b \h \k_ \f_rb\ZekyLhgmk\ gZr_fklZpbhgZj_kjZamj_adhih\ukbekykf_reb\h_gZkljh_gb_h\eZ^_eh ^Z`_ ly`_eh[hevgufb Kh \j_f_g_f ^_eh ^hreh b ^h g_ijbylguo kblmZpbc GZijbf_j F j_rbe \ h^bg ij_djZkguc ^_gv \aylv gZ k_[y jmdh\h^kl\h \k_f gZrbf hl^_e_gb_f Hg [ue kdehg_g b d kbevguf ijhy\e_gbyf Znn_dlZ k\yaZgguf k kh[ulbyfb \ klZpbhgZj_ ^_eZe ]jhfdb_ aZf_qZgby gZ[ex^Ze lh]h beb bgh]h keh`gh]h [hevgh]h k g__kl_kl\_gguf \ha[m`^_gb_f ijhsZeky k l_fb dlh \uibku\Zeky ba debgbdb Dh]^Z khh[sbeb qlh h^bg ba\_klguc ]hkm^Zjkl\_gguc ^_yl_ev k_jv_agh aZ[he_e F klZe \hkdebpZlv iheguf hlqZygby ]hehkhf ©M\u fhc [_^guc bfy aZ[he_e m g_]h gZ\_jgydZ jZd :Zo lZdhc qm^_kguc q_eh\_dªIhke_\uibkdbhghldZaZekyhl^Zevg_cr_]hgZ[ex^_gbygh\k_`_\j_fyhl\j_f_gb \ debgbd_ ihy\eyeky Wlh ijhbkoh^beh lh]^Z dh]^Z _]h ih\_^_gb_ \ khklhygbb hivyg_gby ijb\h^behd dhgnebdlmk aZdhghfk ihfhsvxdebgbdbhgjZkkqblu\Ze^h[blvkyih[eZ`dbIjb \kydhcgh\hc\klj_q_k \jZqZfbhg\_ek_[yhq_gvl_ZljZevghmkljZb\Zehq_j_^ghcki_dlZdev iulZeky aZo\Zlblv \ k\hb jmdb bgbpbZlb\m ij_^eZ]Zy \jZqZf ijbgylv mqZklb_ \ _]h gh\uo ]jZg^bhaguo ieZgZo GZrb kh\_lu \ha^_j`b\Zlvky hl qj_af_jguo \haebygbc hg \gZqZe_ \ukemrb\Ze \_kvfZ k_jv_agh b \_`eb\h ihke_ q_]h ijbgbfZeky \_k_eh ih^fb]b\Zlv b ih^fZj]b\Zlvq_f^_ehh[uqghb dhgqZehkv IjbgbfZy \h \gbfZgb_ [hevrmx ij_^ijbbfqb\hklv h[ke_^m_fh]h _]h h[uqgh \_k_eh_ b [_aaZ[hlgh_ gZkljh_gb_ fu fh`_f hij_^_eblv _]h dZd ij_^klZ\bl_ey ]bi_jlbfbq_kdh]h l_fi_jZf_glZ H^gZdh _]h agZqbl_evgu_ mki_ob g_evay h[tykgblv h^ghc ebrv ]bihfZgbZdZevghc ^_eh\blhklvx hgb ^hklb]Zebkv m]em[e_gb_f F \ khhl\_lkl\mxsb_ ijh[e_fu <ugZrb\Zy ieZgu F p_ebdhf \^hogh\_ggh hl^Z_lky b^_yf < k\hb aZfukeu hg \deZ^u\Z_l fgh]h ljm^Z \hl ihq_fm _]h bah[j_l_gby bgl_j_kgu b hjb]bgZevgu Ih^l\_j`^_gb_f Znn_dlb\gheZ[bevguo q_jl wlhc kf_rZgghc Zdp_glmbjh\Zgghc ebqghklb y\ey_lky g_ lhevdh iZl_lbdZ k dhlhjhc hg ]h\hjbl h[uqgh h k\hbo b^_yo gh b bkdj_gghklv qm\kl\ bkiulu\Z_fuo F d ly`_eh[hevguf ]em[hdZy `Zehklv d gbf Bgh]^Z \ fZg_j_ ih\_^_gbyFqm\kl\h\ZeZkv^Z`_g_dhlhjZybkl_jbq_kdZyl_ZljZevghklvghkZfbqm\kl\Z[ueb ]em[hdb b ijZ\^b\u Djhf_ lh]h bkl_jbd b \^h[Z\hd ]bihfZgbZd gbdh]^Z g_ h[gZjm`be [u \u^_j`dbg_h[oh^bfhc^eylh]hqlh[u^h\_klbb^_x^hmki_rgh]hdhgpZ WdkljZ\_jlbjh\ZggZyZdp_glmZpbyebqghklbb __dhf[bgZpbb Y m`_ hlf_qZe \ q_f mkfZljb\Zxl k\h_h[jZab_ wdkljZ\_jlbjh\Zgghc ebqghklb WdkljZ\_jlbjh\Zgguc q_eh\_d [hevr_ h[jZs_g \ klhjhgm \hkijbylbb q_f ij_^klZ\e_gbc LZdhc q_eh\_d e_]dh ih^^Z_lky \ebygbx hdjm`_gby klbfmeZf ba\g_ ihklhyggh bs_l gh\uo i_j_`b\Zgbc ex[bl oh^blv \ dbgh kfhlj_lv l_e_\babhggu_ i_j_^Zqb Hg hlebqgh qm\kl\m_l k_[y \ h`b\e_g ghf h[s_kl\_ ]^_ ihemqZ_l kjZam fgh`_kl\h \i_qZle_gbc b [h]Zlmx bgnhjfZpbx b k m^h\hevkl\b_f ijh\h^bl \j_fy k ijbyl_e_f [helZy h lhf h k_f Kj_^b ex[bfuoaZgylbclZdboex^_cke_^m_lhlf_lblvkihjl\ dhlhjhfhgbeb[hZdlb\ghmqZkl\mxl kZfb eb[h k m\e_q_gb_f hl^Zxlky kihjlb\ghfm aj_ebsm IhiZ^Zxlky b wdkljZ\_jlbjh\Zggu_ dhee_dpbhg_ju h^gZdh \ kh[bjZgbb bfb l_o beb bguo ij_^f_lh\ g_ qm\kl\m_lky \gmlj_gg_c aZbgl_j_kh\ZgghklbDhee_dpbhgbjh\Zgb_g_kem`bl^eygbohij_^_e_ggufbgl_ee_dlmZevguf lheqdhf <h \j_fy iml_r_kl\bc WdkljZ\_jlbjh\ZggZy ebqghklv gZp_e_gZ ij_`^_ \k_]h gZ aZgbfZl_evgu_i_j_`b\ZgbyZ \h\k_g_gZlhqlh[uh[h]Zlblvk\hbagZgbyb k\hc\gmlj_ggbc fbj\i_qZle_gbyfbgh\h]hIjbg_dhlhjhcih\_joghklghklbfure_gby\k_ihklmiZxs__ba\g_ g_ ih^\_j]Z_lky hkh[hfm ZgZebam Wlh h[mkeh\eb\Z_l ih^\_j`_gghklv qm`hfm \ebygbx b e_]dh\_jb_Ex[h_khh[s_gb_ihke_^h\Z\r__\ dZl_]hjbq_kdhflhg_^eywdkljZ\_jlbjh\Zggh]h ebpZ²[_kkihjgucnZdl^Z`_\ lhf kemqZ_ dh]^Z^hklZlhqgh ohly[u g_fgh]h aZ^mfZlvky b khihklZ\blv nZdlu qlh[u \hagbdeb khfg_gby \ ^hklh\_jghklb bgnhjfZpbb Ihwlhfm qZklh hibku\Z_fuclbiex^_cklZgh\blkyijhklhjmihjhfk\h_]hhdjm`_gby<k_qlhhgbkeurZlhl ^jm]boqblZxlkeurZlihjZ^bhZ ^ey`_gsbg²hq_gvqZklh\ukdZau\Zgbyfm`Zy\ey_lky ^ey gbo g_hijh\_j`bfhc bklbghc H^gZdh bo fg_gby g_ hlebqZxlky klhcdhklvx ihkdhevdm \gmlj_gg_ g_ i_j_jZ[Zlu\Zxlky Ihwlhfm gh\h_ khh[s_gb_ aZdexqZxs__ bgh_ hk\_s_gb_ nZdlh\e_]dhfh`_l\k_hijhdbgmlv\ bokhagZgbbY\ghch[jZs_gghklvxd lhfmqlhijboh^bl ba\g_ h[mkeh\e_gZ g_ihkj_^kl\_gghklv j_Zdpbc gZ \g_rgb_ jZa^jZ`bl_eb Kh[ulby ijb\e_dZxsb_ \gbfZgb_ \ ^Zgguc fhf_gl e_]dh klZgh\ylky ^ey lZdbo ex^_c ]hkih^kl\mxsbfb b ijb\h^yl d ihklmidZf ih^kdZau\Z_fuf km]m[h \g_rg_c kblmZpb_c Fukebdhlhju_fh]eb[uijblhjfhablvih^h[gmxg_h[^mfZgghklvj_Zdpbchlkmlkl\mxl<hl ihq_fmWdkljZ\_jlbjh\ZggZyZdp_glmZpby\e_q_laZkh[hcbfimevkb\ghklvihklmidh\Ijb\_^m ij_`^_ \k_]h ijbf_j h^ghc wdkljZ\_jlbjh\Zgghc h[ke_^m_fhc k aZdhgq_gguf \ukrbf h[jZah\Zgb_f qlh k\b^_l_evkl\m_l h lhf qlh wdkljZ\_jlbjh\Zgghklv hlgx^v g_ k\yaZgZ k g_^hklZlhqghklvxbgl_ee_dlZ JZm]bev^Z F ] jh`^ ^hfhohaycdZ < rdhe_ mqbeZkv ohjhrh \ e_l aZdhgqbeZ kj_^g__ h[jZah\Zgb_ ihke_ q_]h gZqZeZ bamqZlv Zg]ebckdbc yaud b bklhjbx AZgylby \ \ma_ [uebij_j\Zgudh]^ZF\ ]h^Z\ureZaZfm`Fm`ih]b[gZ\hcg_Ihke_\hcguFj_rbeZ \hah[gh\blvij_j\Zggu_\ k\h_\j_fyaZgylby\ \ma_dhlhjuc[eZ]hihemqghaZdhgqbeZihemqb\ ^biehf mqbl_evgbpu G_dhlhjh_ \j_fy ij_ih^Z\ZeZ \ rdhe_ < ]h^Z F \lhjbqgh \ureZ aZfm` b hdhgqZl_evgh hklZ\beZ ijhn_kkbhgZevgmx ^_yl_evghklv HgZ ijhklh g_ qm\kl\h\ZeZ i_^Z]h]bq_kdh]hijba\Zgby=hjZa^hhohlg__hgZaZgbfZeZkv^hfZrgbfohayckl\hfb ^_lvfbbo m g__^\h_h^bghli_j\h]h^jm]hc²hl\lhjh]h[jZdZOhlyh[Z__ fm`Zb ihijhn_kkbbb km^yih__ jZkkdZaZfbgl_ee_dlmZevghgZoh^bebkvgZ[he__gbadhfmjh\g_jZa\blbyq_fkZfZ Fh^gZdhhgbj_rZeb\ k_fv_\k_djhf_\hijhkh\ijb]hlh\e_gbyibsbb m[hjdbKhpbZevgh iheblbq_kdb_ \a]ey^u __ fm`_c klZgh\bebkv __ kh[kl\_ggufb \a]ey^Zfb DZd `_ _c m^Zehkv ihemqblv\ukr__h[jZah\Zgb_"MqbeZkvhgZe_]dhhq_gve_]dh\k_\hkijbgbfZeZKh[kl\_gguo fuke_c dZd b kh[kl\_gguo ijh[e_f m F gbdh]^Z g_ [ueh K h[yaZgghklyfb mqbl_evgbpu k ^bkpbiebghc \ deZkk_ hgZ hlebqgh kijZ\eyeZkv HgZ \ hkgh\ghf ijb^_j`b\ZeZkv fZl_jbZeZ ijh]jZffu b mq_[gbdh\ g_ \ghky gbq_]h k\h_]h hjb]bgZevgh]h K\h[h^gh_ \j_fy \ h^bghq_kl\_ F ijh\h^beZ g_hohlgh gh h[s_kl\h \k_]^Z gZoh^behkv m g__ [ueh g_kdhevdh [ebadboih^jm]?c\k_]^Z[uehg_ljm^ghaZ\yau\Zlv[ebadb_hlghr_gbyk ex^vfb\ qZklghklb k fm`qbgZfb ;hevr_ \k_]h gZ k\_l_ F ex[beZ jZa\e_dZlvky HgZ aZgbfZeZkv b kihjlhf ² e_]dhcZle_lbdhcieZ\Zgb_fh[h`ZeZkfhlj_lvkihjlb\gu_khklyaZgbyk [hevrbf\heg_gb_f ke_^beZ aZ l_f dlh ih[_^bl gh gbdh]^Z g_ klZ\beZ ijh]ghah\ F ex[beZ b iml_r_kl\by lmjbklbq_kdb_ ihoh^u gh hlghkbeZkv d gbf g_kdhevdh [_kihjy^hqgh ijhklh jZ^h\ZeZkv qlh m\b^blqlhlhgh\h_<h\j_fy[_k_^k gZfbF\_eZk_[y^h[jh`_eZl_evghb ijb\_leb\hm g__ [ue ijyfhc b hldjuluc gjZ\ Dh]^Z fu h[tykgbeb _c hlebqb_ wdkljZ\_jlbjh\Zgghklb hl bgljh\_jlbjh\Zgghklbb kijhkbebd dZdhc[udZl_]hjbbhgZk_[yhlg_keZhgZg_aZ^mfu\Zykv hl\_lbeZ©Dhg_qghy wdkljZ\_jlbjh\Zggucq_eh\_dª WlhlkemqZcih^l\_j`^Z_lqlhwdkljZ\_jlbjh\Zgghklvbebbgljh\_jlbjh\Zgghklvq_eh\_dZ hlgx^v g_ aZ\bkbl hl _]h bgl_ee_dlmZevgh]h mjh\gy M hibkZgghc h[ke_^m_fhc bgl_ee_dlZ \iheg_ o\Zlbeh gZ hdhgqZgb_ b kj_^g_c rdheu b \maZ ijZ\^Z \ ^\Z ijb_fZ H^gZdh hgZ gbdh]^Zg_hlebqZeZkvmf_gb_fkZfhklhyl_evghfukeblvHgZiheZ]ZeZkv\h\k_fgZkm`^_gby k\hbofm`_cH ijhn_kkbhgZevghfkh\_jr_gkl\h\Zgbb^mfZeZfZehOhlyFb mf_eZ\ h[s_f i_j_^Z\Zlv k\hbf mq_gbdZf agZgby gh gbq_]h k\h_]h g_ ^h[Z\eyeZ <hh[s_ `bagv wlZ h[ke_^m_fZy ijbgbfZeZ e_]dh aZgbfZeZkv kihjlhf jZa\e_dZeZkv iml_r_kl\h\ZeZ gh g_ aZ^mfu\ZeZkv ]em[hdh gZ^ `bag_ggufb ijh[e_fZfb Ke_^m_l hlf_lblv qlh F ihklhyggh bkiulu\ZeZ [hevrmx jZ^hklv hl h[s_gby k ex^vfb ;eZ]h^Zjy k\h_fm hldjulhfm gjZ\m hlkmlkl\bxlhjfh`_gbchgZe_]dhgZoh^beZ^jma_ch[h_]hiheZH^gZdhwdkljZ\_jlbjh\Zgghklv g_ \k_]^Z khijh\h`^Z_lky mkbe_ggufb ihbkdZfb dhglZdlh\ k ex^vfb Gb`_ ijb\h^bf kemqZc aZf_lghcwdkljZ\_jlbjh\Zgghklbh[ke_^m_fh]hm dhlhjh]hh[s_gb_gZeZ`b\Zehkvk ljm^hf <hevn]Zg] = ] jh`^ dZf_gsbd ih ijhn_kkbb < ^_lkl\_ [ue `b\uf jZa]h\hjqb\uf j_[_gdhf gh k ^_lvfb g_ ^jm`be Mqbeky ohjhrh gZ jZ[hl_ hg gZ ohjhr_f kq_lm < k\h[h^gh_ \j_fy ihklhyggh bs_l jZa\e_q_gbc Ex[bl kihjl aZgbfZ_lky nml[hehf ieZ\Zgb_f dZlZ_lky gZ \_ehkbi_^_ <u_a`Zy gZ \_ehkbi_^_ aZ ]hjh^ \k_]^Z [_j_l k kh[hc ljZgabklhjkemrZ_lfmaudm>hfZihklhygghkemrZ_lieZklbgdbbf__lijbebqgmxnhghl_dm Ih l_e_\b^_gbx hkh[_ggh ex[bl kfhlj_lv hkljhkx`_lgu_ nbevfu beb hi_j_llu = qblZ_l ohly b g_ fgh]h Baex[e_ggu_ `Zgju ² ijbdexq_gq_kdb_ jhfZgu kihjlb\gu_ jZkkdZau Dgb]Zf hg ij_^ihqblZ_l beexkljbjh\Zggu_ `mjgZeu ihlhfm qlh \ gbo g_ lhevdh ijhql_rv ©gh b m\b^brv qlhgb[m^v gh\_gvdh_ª M g_]h _klv dhee_dpby hldjulhd k \b^Zfb jZaebqguo ]hjh^h\b kljZgGhhkh[_gghjZ^m_l_]h\hafh`ghklvdm^Zgb[m^vih_oZlvqlh[um\b^_lv©\k_ wlhª kh[kl\_ggufb ]eZaZfb Djhf_ hldjulhd dhee_dpbhgbjm_l ihqlh\u_ fZjdb @b\_l [_a ijh[e_fh j_eb]bbiheblbd_g_aZ^mfu\Z_lky< p_ehfhgohjhrhijh\h^bl\j_fygh²h^bg g_ ^jm`bl gb k xghrZfb gb k ^_\mrdZfb K\ya_c k `_gsbgZfb = g_ bf__l G_l m g_]h b ihlj_[ghklb\ ^jm`_kdhfmqZklbbi_j_`b\Zgbyfbhg^_eblkyh[uqghk jh^gufbM agZdhfuo \k_]^Z qm\kl\m_l k_[y g_fgh]h kl_kg_ggh g_ gZoh^bl l_fu ^ey [_k_^u G_ mqZkl\m_l dZd ijZ\behgb \kh\f_klguob]jZogb\ lZgpZo<hh[s_ex[bl[ulvh^bgkhk\hbfljZgabklhjhf k ieZklbgdZfb b g_ bkiulu\Z_l ihlj_[ghklb \ h[s_kl\_ ijbyl_e_c <h \j_fy gZrbo [_k_^ = \k_]^Z[ue\_`eb\hohlghhl\_qZegZ\hijhkuH^gZdh]h\hjbehgfhghlhgghb g_khijh\h`^Ze k\hb keh\Z gb h`b\e_gghc fbfbdhc gb `_klZfb M`_ ih h^ghc keZ[hc wfhpbhgZevghc hdjZr_gghklbj_qbfh`gh[uehijbclbd \u\h^mqlh_fmg_e_]dh\klmiZlv\ dhglZdlk ex^vfb BlZd i_j_^ gZfb lbibqguc kemqZc wdkljZ\_jlbjh\Zgghc kljmdlmju H[ wlhf ]h\hjbl gZijZ\e_gghklv bgl_j_kh\ = \ p_ehf b qZklgu_ kdehgghklb b m\e_q_gby kihjl wdkdmjkbb gZ \_ehkbi_^_ k ljZgabklhjhf ql_gb_ ijbdexq_gq_kdbo jhfZgh\ b l i Gh ijb wlhf dhglZdlu k ^jm]bfb ex^vfb k\_^_gu d fbgbfmfm ©JZa\e_dZl_evgu_ f_jhijbylbyª = ij_^ihqblZ_l ijh\h^blv \ h^bghqdm Ex[hiulgh qlh ^Z`_ _]h fZg_jZ \dexqZlvky \ [_k_^m k gZfb ih^l\_j`^Z_l b ^Z`_ beexkljbjm_l _]h k\h_h[jZaguc bg^b\b^mZebaf ijbkmsZy _fm keZ[Zy kihkh[ghklv dhglZdlbjh\Zgby ih^l\_j`^Z_lky kdm^ghklvx \ujZabl_evghc fhlhjbdb < h[s_f `_ oZjZdl_j Zdp_glmZpbb ebqghklb = k\b^_l_evkl\m_l h lbibqghc wdkljZ\_jlbjh\Zgghklb gh \\b^m gZebqby lhjfh`_gbc ijb mklZgh\e_gbb dhglZdlh\ k ex^vfb wlZ hkh[_gghklv ikbobdb ijh_pbjm_lkyg_gZex^_cZ gZ\_sbb gZjZaghh[jZagu_\g_rgb_\i_qZle_gbyGZijZ\e_gghklv q_eh\_dZ gZ ex^_c b \g_rgb_ kh[ulby gZ[ex^Z_lky lZd`_ b ijb ]bihfZgbZdZevghf l_fi_jZf_gl_ Q_eh\_d k lZdbf l_fi_jZf_glhf aZo\Zq_g ijhbkoh^ysbf \hdjm] hg ihklhyggh hl\e_dZ_lky =bihfZgbZdZevguc l_fi_jZf_gl g_ljm^gh kimlZlv k wdkljZ\_jlbjh\Zgghklvx ebqghklb >Zevr_ fuihdZ`_f qlhbo jZa]jZgbq_gb_ [_amkeh\gh \hafh`gh b[h kms_kl\mxl ]bihfZgbZdZevgu_ ebqghklb k lbibqgufb bgljh\_jlbjh\Zggufb q_jlZfb LZd lboh]h k_jv_agh]h q_eh\_dZ dhlhjuc fZeh ©ijhy\ey_lª k_[y fu qZs_ \k_]h hlghkbf d g_khfg_ggh bgljh\_jlbjh\ZggufebqghklyfH^gZdhg_j_^db kemqZb dh]^Z km[^_ij_kkb\guc l_fi_jZf_gl khq_lZ_lky k y\gh \ujZ`_gghc wdkljZ\_jlbjh\Zgghklvx ih\_^_gby Gb`_ ijb\h^blky lZdhc kemqZc O_e_gZ < ] jh`^ jZ[hlgbpZ < rdhe_ wlZ lboZy ijb\yaqb\Zy ^_\hqdZ mqbeZkv ohjhrh[ueZh^ghcbaemqrbomq_gbpdeZkkZ>_lb__ ex[bebm g__\k_]^Z[uehfgh]hih^jm] k g_dhlhjufb hgZ ih^^_j`b\Z_l hlghr_gby ih k_c ^_gv I_qZevgu_ kh[ulby \k_]^Z aZf_lgh m]g_lZxl < hgZ ^hevr_ ^jm]bo ihfgbl h gbo <hh[s_ hgZ \u^_ey_lky k\hbf i_kkbfbafhf kdehggZ \b^_lv \k_ \ fjZqguo lhgZo ohly kiehrv b jy^hf aeh\_sb_ ij_^qm\kl\by g_ hijZ\^u\ZxlkyK g_agZdhfufb<g_kdhevdhjh[dZg_m\_j_ggZ\ k_[_ghk [ebadbfbh[sZ_lky e_]dhb hohlghG_ex[bl[ulvh^gZkbevghijb\yaZgZd k_fv_K\hbfbg_\a]h^ZfbqZs_\k_]h ^_eblkyk jh^gufbEx[blijh\h^blv\j_fyk fZl_jvxk k_kljhcbebk ih^jm]hcoh`^_gbx\ ]hklb ij_^ihqblZ_l ^ebggu_ ijh]medb Bgh]^Z qblZ_l qlhgb[m^v aZgbfZl_evgh_ gh j_^dh ij_^ihqblZ_l [helZlv k [ebadbfb >jm]bo ijh[e_f djhf_ [ulh\uo < g_ agZ_l Gbdh]^Z g_ aZ^mfu\Z_lkygZ^\hijhkZfbj_eb]bbiheblbdbl_ogbq_kdh]hijh]j_kkZihijhklmijbgbfZ_ld k\_^_gbx lh qlh i_j_^Zxl ih jZ^bh beb ijbkh_^bgy_lky d fg_gbx jh^guo ih^jm] K fm`qbgZfb \hh[s_ g_ dhglZdlbjm_l ohly _c m`_ aZ ljb^pZlv <h \j_fy gZrbo [_k_^ < [ueZ lboZk_jv_agZihqlbg_kf_yeZkvgh\k_`_hsmsZeZkv\ g_cdZdZylh^mr_\ghklvqlh\_kvfZ h[e_]qZehh[s_gb_?kebfudZkZebkvl_f\uoh^ysboaZij_^_eumadh[ulh\uobgl_j_kh\hgZ \ukdZau\ZeZfg_gby[ebadbodhlhju_e_]dhijbgbfZeZ Wlh hibkZgb_ kha^Z_l \i_qZle_gb_ qlh i_j_^ gZfb g_kdhevdh g_^hjZa\blh_ hlklZeh_ kms_kl\hG_gZ^hh^gZdhaZ[u\Zlvqlh\ rdhe_<ohjhrhmki_\ZeZBgl_ee_dliha\heye_cb fg_gb_khklZ\blvb bf_lvrbjhdbcdjm]hahjIhke_^g_]hke_^h\Zeh[uh`b^Zlv\ hkh[_gghklb ihlhfm qlh < h[eZ^Z_l g_kdhevdh ^_ij_kkb\guf l_fi_jZf_glhf ke_^h\Zl_evgh hgZ ^he`gZ [ulvkdehgghcd jZa^mfvyfkZfhZgZebamGh^ey<wlhg_oZjZdl_jghwdkljZ\_jlbjh\Zgghklvm g__ ijhy\eyeZkv g_ \ ihbkdZo gh\uo agZdhfuo h[s_kl\Z g_ \ klj_fe_gbb m\b^_lv ih[hevr_ gh\uo hl^Ze_gguo h[t_dlh\ Z \ lhf qlh __ \gbfZgb_ p_ebdhf ih]ehs_gh [ueh jh^gufb b [ebadbfbih^jm]ZfbQlhdZkZ_lky[he__^Ze_dboagZdhfuolhdhglZdluk gbfblhjfhabebkv__ km[^_ij_kkb\gufbq_jlZfb Bgljh\_jlbjh\ZggZyZdp_glmZpbyebqghklbb __dhf[bgZpbb Bgljh\_jlbjh\ZggZy ebqghklv `b\_l g_ klhevdh k\hbfb \hkijbylbyfb b hsms_gbyfb kdhevdh k\hbfb ij_^klZ\e_gbyfb Ihwlhfm \g_rgb_ kh[ulby dZd lZdh\u_ \ebyxl gZ `bagv lZdh]h q_eh\_dZ hlghkbl_evgh fZeh ]hjZa^h \Z`g__ lh qlh hg h gbo ^mfZ_l < [hevrbgkl\_ kemqZ_\bgljh\_jlbjh\Zggucq_eh\_dijboh^bld h[t_dlb\ghijZ\bevgufmfhaZdexq_gbyfhg g_ k\yaZg \i_qZle_gbyfb fhf_glZ hg mqblu\Z_l lh qlh _fm ih^kdZau\Zxl _]h ij_`gb_ ij_^klZ\e_gby _]h `bag_gguc hiul Ba\_klgZy kl_i_gv bgljh\_jlbjh\Zgghklb \ujZ[Zlu\Z_l kihkh[ghklv d ijZ\bevguf km`^_gbyf Gh _keb ^ZggZy Zdp_glmZpby kbevgh \ujZ`_gZ lh ebqghklv\k_[he__hl^Zey_lkyhl^_ckl\bl_evghklbb \dhg_qghfblh]_gZklhevdhih]jm`Z_lky \ fbjk\hboij_^klZ\e_gbcqlhh[t_dlb\ghijbgbfZ_l\ jZkq_l\hkijbgbfZ_fh_\k_f_gvr_< kbem wlh]h b^_b g_ ih^\_j]Zxlky ^hklZlhqghc dhjj_dpbb \ j_amevlZl_ hgb fh]ml nhjfbjh\Zlvky jZkrbjylvky b ijbh[j_lZlv km[t_dlb\gmx agZqbfhklv m dhlhjhc hlkmlkl\m_l \kydZy h[t_dlb\gZy ih^hie_dZ LZdbf h[jZahf \ lh \j_fy dZd jZamfgZy kl_i_gv bgljh\_jlbjh\Zgghklb kihkh[kl\m_l \ujZ[hld_ kZfhklhyl_evgh]h km`^_gby kbevgh bgljh\_jlbjh\ZggZy ebqghklv `b\_l [hevr_c qZklvx \ fbj_ g_j_Zevguo b^_c Dm^Z bf_ggh aZ\h^yl ih^h[gu_ b^_b bgljh\_jlbjh\Zggh]h q_eh\_dZ \ dZdhc kl_i_gb b^_b l_jyxl k\yav k ^_ckl\bl_evghklvx ² aZ\bkbl hl bgl_ee_dlZ H^gZdh ij_h[eZ^Zgb_ ©\gmlj_gg_c `bagbª jZkihagZ_lky\h\k_okemqZyoIjhn_kkbhgZevgZy^_yl_evghklvbgljh\_jlbjh\Zggh]hjZ[hlgbdZ gZijbf_j ihklhyggh khijh\h`^Z_lky jZafure_gbyfb hg \\h^bl \kydb_ mkh\_jr_gkl\h\Zgby dhlhju_ij_^klZ\eyxlky_fmp_e_khh[jZagufbohlygZkZfhf^_e_wlhfh`_l[ulvb g_lZd< k\h[h^gh_ \j_fy hg bs_l ^ey k_[y aZgylbc dhlhju_ [m^yl fukev Kh^_j`Zgb_ dgb] hg \hkijbgbfZ_lg_iZkkb\ghZ kha^Z_lh gbokh[kl\_ggh_fg_gb_Hgih^[bjZ_l^eyk_[y lZdmx ebl_jZlmjm dhlhjZy ^Z_l _fm \hafh`ghklv m]em[blvky \ lm beb bgmx h[eZklv ?keb bgljh\_jlbjh\Zggu_ ex^b bf_xl ex[bfh_ aZgylb_ m\e_q_gb_ lh hgh ih^^_j`b\Z_lky ihklhygguf \gmlj_ggbf bgl_j_khf wlh g_ fh`_l [ulv gZijbf_j f_oZgbq_kdh_ gZdhie_gb_ wdkihgZlh\^eydhee_dpbb?kebhgbaZgbfZxlkykihjlhflhlZd`_ihklhygghbkoh^ylbadZdbo lh jZkq_lh\ \a\_rb\Zgbc dhlhju_ ijZdlbq_kdb \hafh`gh agZq_gby g_ bf_xl H^gZdh hsms_gb_ m^h\hevkl\by dhlhjh_ ^hklZ\ey_l qbklh nbabq_kdZy ^_yl_evghklv e_`bl aZ ij_^_eZfb dZd wdkljZ\_jlbjh\Zgghklb lZd b bgljh\_jlbjh\Zgghklb ebqghklb Bgljh\_jlbjh\Zggu_ ebqghklb g_j_^dh ij_^ihqblZxl ^jm]bf b]jZf rZofZlu dhlhju_ klZ\yl i_j_^iZjlg_jZfb [hevrh_ dhebq_kl\h mfkl\_gguo aZ^Zq JmqgZy jZ[hlZ m l_o dlh ex[bl _x aZgbfZlvky k\yaZgZ m lZdbo ex^_c k hjb]bgZevgufb aZfukeZfb bah[j_l_gbyfb G_fZeh bgljh\_jlbjh\Zgguo ex^_c y\eyxlky gZklhysbfb bah[j_lZl_eyfb m ^jm]bo `_ ^_eh g_ b^_l ^Zevr_ imkluo \u^mfhd G_j_^dh wlb ebqghklb ghkylky k b^_yfb ©bkijZ\e_gby `bagb gZ a_fe_ªHkh[_gghbo\hegmxl\kydb_aZ]Z^dbhdjm`Zxs_]hfbjZb ljm^ghjZaj_rbfu_\hijhku Baex[e_ggZyibsZ^eyfure_gby²ijh[e_fuj_eb]bbiheblbdbnbehkhnbbIhfgh]bfba wlboijh[e_f hgb kihkh[gu \ujZ[hlZlv \iheg_h[hkgh\Zggh_kh[kl\_ggh_ km`^_gb_ \ ^jm]bo kemqZyoboihabpby\_kvfZ^Ze_dZhl`bagbb[hfZehmqblu\Zxlkyj_Zevgu_nZdlu>_ckl\by ihklmidb ke_^mxl aZ b^_yfb hlgx^v g_ h[yaZl_evgh beb \h \kydhf kemqZ_ g_ kjZam K h^ghc klhjhgu ihiuldb ^_ckl\h\Zlv m bgljh\_jlbjh\Zgguo ebqghkl_c g_h^ghdjZlgh ijb\h^yl d klhedgh\_gbxk ^_ckl\bl_evghklvxdhlhjZyg_ijbgbfZeZkv\h\gbfZgb_ijbkhaj_\Zgbbb^_b k ^jm]hc klhjhgu kbevgZy khkj_^hlhq_gghklv gZ b^_yo g_ jZkiheZ]Z_l d dhgdj_lghc ^_yl_evghklbb ^Z`_qm`^Z_c>_ckl\byex^_c\ ghjf_\k_]^ZgZijZ\e_gugZh[t_dl?kebwlhl h[t_dl \k_ \j_fy gZoh^blky \ p_glj_ \gbfZgby dZd wlh [u\Z_l m wdkljZ\_jlbjh\Zgguo ebqghkl_clhhgklZgh\blkyklbfmehfd gZqZem^_ckl\bc_keb`_\gbfZgb_[hevr_gZijZ\e_gh gZ\gmlj_ggb_ijhp_kkulhgZqZeh^_ckl\bcaZly]b\Z_lky< ihke_^g_fkemqZ_lhih[m`^_gb_ dhlhjh_bkoh^blhlh[t_dlZkeZ[__ll_jy_lwnn_dlb\ghklvLZdbfiml_f\hagbdZ_lk\yavf_`^m ih^q_jdgmlhc kdehgghklvx d jZa^mfvyf b keZ[hc ]hlh\ghklvx d ihklmidZf Bgljh\_jlbjh\Zggu_ex^bdZdijZ\behf_^ebl_evgub g_j_rbl_evgu\ ihklmidZoKZfhkh[hc jZamf__lky qlh lZdmx f_^ebl_evghklv fh]ml h[mkeh\eb\Zlv b ^jm]b_ nZdlhju gZijbf_j hij_^_e_ggu_ q_jlu l_fi_jZf_glZ dhlhju_ ih^lZedb\Zxl beb k^_j`b\Zxl \dexq_gb_ \ Zdlb\gu_ ^_ckl\by Yjdh \ujZ`_ggZy bgljh\_jlbjh\Zgghklv \_^_l d baheypbb ebqghklb hl ^jm]boex^_cdhlhju_g_\ khklhygbbihgylv__ ih^qZkqm^Zdh\Zluob^_cK ^jm]hcklhjhgu k\yab k ex^vfb fh]ml [ulv keZ[ufb lZd`_ baaZ i_j\bqghc keZ[hklb dhglZdlh\ >bnn_j_gpbjh\Zlv i_j\uc b \lhjhc kemqZb g_ lZd m` keh`gh gm`gh lhevdh \gbfZl_evg__ ihgZ[ex^Zlv aZ wlbfb ©h^bghqdZfbª < i_j\hf kemqZ_ fu h[gZjm`b\Z_f gZebqb_ m h[ke_^m_fh]hkljZgguog_h[uqguob^_c\h\lhjhfh[s_gb_aZljm^g_gh^Z`_lh]^Zdh]^Zhgh dZkZ_lky h[u^_gguo [ulh\uo l_f <h \lhjhf kemqZ_ hkh[_ggh [jhkZ_lky \ ]eZaZ [_^ghklv fbfbdbaZklu\r__\ujZ`_gb_ebpZb hlkmlkl\b_fh^meypbb]hehkZ?kebq_eh\_dg_kfhljygZ y\gmx bgljh\_jlbjh\Zgghklv ebqghklb h[eZ^Z_l ohjhr_c kihkh[ghklvx dhglZdlbjh\Zgby hg kZf [m^_l bkdZlv h[s_gby gh _fm ihklhyggh [m^_l ljm^gh gZclb hldebd gZ k\hb b^_b ihgbfZgb_boH^gZdh klhblbgljh\_jlbjh\Zgghfm q_eh\_dm mklZgh\blv dhglZdl dZd hg [m^_l bkdj_gg_ jZ^ h[s_gbx k ihgbfZxsbf _]h iZjlg_jhf f_`^m gbfb mklZgh\ylky l_ieu_ hlghr_gbyG_dhlhju_bagZ[ex^Z_fuogZfbbgljh\_jlbjh\Zgguoex^_c\ ijhrehfi_j_g_keb g_\jhabebikbohaHp_gdZbokhklhygbykdeZ^u\ZeZkvbakh[kl\_gguojZkkdZah\h[ke_^m_fuob hibkZgbc bo jh^guo Fg_ ij_^klZ\ey_lky qlh fu [_amkeh\gh bf__f ijZ\h ijb\e_dZlv ^ey oZjZdl_jbklbdb bgljh\_jlbjh\Zgguo ebqghkl_c h[ke_^m_fuo i_j_g_krbo ikboha ba ke_^mxsbokhh[jZ`_gbcg_\k_]^ZwlbebpZ[he_ebrbahnj_gb_cbgh]^Zwlh[uenZah\uc ikboha fu bf__f \ \b^m bkdexqbl_evgh ih\_^_gb_ ^Zgguo ebp m`_ ihke_ i_j_g_k_ggh]h ikbohaZ Ba\_klgh qlh rbahnj_gbdb g_j_^dh k xghklb aZ fgh]h e_l ^h gZqZeZ aZ[he_\Zgby y\eyxlky bgljh\_jlbjh\Zggufb ebqghklyfb GZb[he__ yjdb_ kemqZb bgljh\_jlbjh\Zgghklb y gZ[ex^Ze\ ih\_^_gbbrbahnj_gbdh\^haZ[he_\ZgbybgZkdhevdhwlh[ueh\hafh`ghm`_\h \j_fy __ l_q_gby DZdh\h dhgdj_lgh_ khhlghr_gb_ f_`^m ^Zgghc hkh[_gghklvx ebqghklb b rbahnj_gb_c ² ihdZ g_ba\_klgh Y kdehg_g ^mfZlv qlh ih kmlb a^_kv g_l gbq_]h h[s_]h Ijhklh Bgljh\_jlbjh\Zggu_ ex^b [he__ \hkijbbfqb\u d wlhfm aZ[he_\Zgbx q_f ^jm]b_ ihwlhfmm gboijhp_kkghkbl[he__yjdh\ujZ`_ggucoZjZdl_jlZd`_dZdgZijbf_jg_dhlhju_ hkh[_gghklbdhgklblmpbbq_eh\_dZy\ghkihkh[kl\mxlaZ[he_\Zgbxlm[_jdme_ahfAZf_qmqlh hkh[h]h jZaebqby f_`^m bgljh\_jlbjh\Zggufb a^hjh\ufb ex^vfb b bgljh\_jlbjh\Zggufb ex^vfbi_j_g_krbfbikbohay g_aZf_qZe<hafh`ghb lZdh_iheh`_gb_dh]^Z©]hlh\ghklbªd rbahnj_gbbkihkh[kl\m_lg_klhevdhbgljh\_jlbjh\ZgghklvkdhevdhaZljm^g_gb_\ dhglZdlZok ex^vfbZ lZd`_h[ZnZdlhjZ \f_kl_\aylu_Wlbf\hijhkhf^_lZevgh aZgbfZeZkv Ljhklhjnn Gb`_ ijb\h^blky hibkZgb_ bgljh\_jlbjh\Zggh]h q_eh\_dZ ^ey dhlhjh]h oZjZdl_jgZ kihkh[ghklve_]dhdhglZdlbjh\Zlvk hdjm`Zxsbfb FZjlbg R ] jh`^ mijZ\^hf J_[_gdhf [ue kdjhf_g jh[hd k fZehagZdhfufb ex^vfbh^gZdhk ^jmavyfbdhlhjuo[uehm g_]hg_fZeh`Z`^Ze©aZ^Z\ZlvlhgªIh^jhkldhf\ rdhe_ex[beklZ\blv\ lmibdmqbl_e_c\hijhkZfbqlhijb\h^beh\ \hklhj]_]hkhmq_gbdh\< e_l ,,, [ue gZijZ\e_g gZ g_kdhevdh f_kyp_\ \ kZgZlhjbc A^_kv ijboh^behkv ihklhyggh gZoh^blvky kj_^b fgh]bo fZevqbdh\ qlh jZa^jZ`Zeh R hg ohl_e dhglZdlbjh\Zlv ebrv k g_[hevrbfdhebq_kl\hfba[jZgguobflh\Zjbs_cDjhf_lh]hhgkl_kgyeky\f_kl_k ^jm]bfb ijbgbfZlv ^mr D kqZklvx h^bg ba \hkiblZl_e_c _]h ohjhrh ihgbfZe b \aye ih^ k\h_ ihdjh\bl_evkl\h<h\j_fy\hcguRihklhyggh bkdZe imlb dZd [u g_ihiZklvgZ i_j_^h\mx AZl_f²ij_[u\Zgb_\ ie_gm?]hhq_gvhllZedb\ZebjZa]h\hjuie_gguogZk_dkmZevgu_l_fu Fgh]hb]jZe\ rZofZluH[jZah\Zgb_RaZdhgqbeebrvihke_\hcgu< h[eZklbwjhlbdbm R [ueb hkh[u_ \a]ey^u < e_lg_f \hajZkl_ hg \u[jZe k_[_ ^_\mrdm khhl\_lkl\h\Z\rmx _]h lh]^Zrgbf ij_^klZ\e_gbyf h[ b^_Zevghc `_g_ Hg ihk_sZe __ jh^bl_e_c gh nbabq_kdh]h k[eb`_gbyk ^_\mrdhcg_bkdZeIhke_hk\h[h`^_gbybaie_gZRhlukdZewlm^_\mrdmH^gZdh hgZihqm\kl\h\ZeZqlhm g_]hd g_cdZdh_lhjZpbhgZebklbq_kdh_hlghr_gb_qlhhg\_jgmekyd g_c©baijbgpbiZªb hldZaZeZ_fm<kdhj_ihke_wlh]hR`_gbekygZ^jm]hcghjZa\_ekyk g_c hgZ _fm baf_gbeZ Ih _]h keh\Zf m gbo g_ [ueh h[sbo bgl_j_kh\ Z ]eZ\gh_ ² `_gZ g_ ihgbfZeZ_]hb^_cK\h_h[jZaghcq_jlhcR[uehlhqlhba[_]Zyh[s_kl\Zhg\ lh`_\j_fyg_ ohl_e[ulvh^bgkljZ^Zehllh]hqlhg_k d_fih^_eblvkyqlh_]hkqblZxl©h^bghqdhcªWlh h[tykgyehkv l_f qlh ihqlb gbdlh g_ ihgbfZe _]h ebqguo \a]ey^h\ b b^_c ?s_ \ rdhevgu_ ]h^u hg ]em[hdh aZ^mfu\Zeky gZ^ nbehkhnkdbfb \hijhkZfb dhlhjufb b klZ\be \ lmibd mqbl_e_c Hg hq_gv ex[be ZgZebabjh\Zlv ihklmidb ex^_c qlh[u ihgylv bo oZjZdl_j ^_eZe ihiuldbjZah[jZlvky^Z`_\ ikboheh]bbb oZjZdl_j_`b\hlguoRbgl_j_kh\ZeblZd`_\hijhku `bagbb kf_jlb< e_lhgijhqblZefgh]hdgb]ih[bheh]bbqlh[uijb[ebablvkyd aZ]Z^d_ `bagb ih^he]m jZafureye ih ih\h^m ijhqblZggh]h < ieZg_ khpbZevghf hg kha^Ze k\h_ kh[kl\_ggh_ ©mq_gb_ª mklZgh\b\ qlh b dZd ke_^m_l baf_gblv \ kms_kl\mxs_f h[s_kl\_gghf ihjy^d_ Ij_`^_ \k_]h hg ij_^eZ]Ze dhfijhfbkk f_`^m dZiblZebafhf b dhffmgbafhf aZl_f ² hlf_gm \k_o ]hkm^Zjkl\ i_j_oh^ \k_o gZjh^h\ gZ h^bg h[sbc yaud Iha^g__ hg k_jv_agh bamqZe [m^^baf \ dhlhjhf \b^_e gZb[he__ kh\_jr_ggmx j_eb]bx OjbklbZgkl\h hg kqblZe k\h_]h jh^Z [bag_khf lZd dZd hgh h[_sZ_l gZ]jZ^m ©aZ ohjhr__ ih\_^_gb_ª [m^^baf `_ hkgh\ZggZqbklhfklj_fe_gbbd kh\_jr_gkl\m[_a\kydbogZ]jZ^Hgg_kh]eZrZekygbk h^gbf iheblbq_kdbfgZijZ\e_gb_fijhlb\hihklZ\eyybfkh[kl\_ggu_ l_hjbb R ^jm`be k ex^vfb hlklZb\Z\rbfbiheblbq_kdb_\a]ey^u\ dhjg_g_koh^gu_k _]hkh[kl\_ggufbkihjbek gbfb gh^_ehgbdh]^Zg_^hoh^beh^h\hafms_gbykkhju<h\j_fygZrbo[_k_^R[ueijb\_leb\ hohlgh hl\_qZe gZ \hijhku baeZ]Ze k\hb \a]ey^u \k_]^Z \^mfqb\h lsZl_evgh ih^[bjZy \ujZ`_gby< h[s_f[ue\iheg_dhglZdl_g G_ih^e_`blkhfg_gbxqlhR²ebqghklvbgljh\_jlbjh\ZggZyHgk ^_lkl\Zkdehg_gd kha^Zgbx jZaebqguo l_hjbcb b^_c^h\hevgh ^Ze_dbo hl^_ckl\bl_evghklb < lh `_ \j_fyhg ihklhygghbs_lbgl_ee_dlmZevgh]hh[s_gbyk ex^vfb< ex[hckj_^_hggZoh^blh^gh]h^\mo ^jma_c k dhlhjufb ^_eblky k\hbfb fukeyfb ?]h kqblZxl ©h^bghqdhcª bg^b\b^mZebklhf g_ ihlhfm qlh hg k ljm^hf \klmiZ_l \ dhglZdl k hdjm`Zxsbfb Z ihlhfm qlh ex^yf ljm^gh ijhgbdgmlv\ kmlv_]hb^_c_]h\gmlj_ggbcfbj^eyhdjm`Zxsbo[ueh[uqghg_ihgyl_gqm`^ H dhgnebdl_f_`^mb^_yfbb ^_ckl\bl_evghklvxk\b^_l_evkl\m_l_]hnbZkdhk ba[jZggufbf ©`_gkdbf b^_Zehfª Hjb_glbjh\Zgguc hl\e_q_ggh gZ ^Zgguc ©b^_Zeª hg aZ[ue h ]hjyq_f bkdj_gg_fqm\kl\_IulZykvkh\j_f_g_f©baijbgpbiZªijb[ebablvkyd ba[jZgghcbf^_\mrd_ hg gZlhedgmeky gZ __ _kl_kl\_gguc ijhl_kl ijhlb\ lZdh]h ko_fZlbq_kdh]h j_r_gby ebqguo \hijhkh\ <k_ ©ijbgpbiuª R kf_eZ gh\Zy kljZklgZy ex[h\v gh nbgZe ©ex[\bª hdZaZeky ieZq_\guf BlZd i_jz^ gZfb ebqghklv kdehggZy d bgljh\_jlbjh\Zgghklb b^msZy ih bg^b\b^mZebklbq_kdhfmimlbohlyklj_fe_gb_d q_eh\_q_kdbfdhglZdlZfa^_kvgZebphY\gZy bgljh\_jlbjh\Zgghklv [jhkZ_lky \ ]eZaZ b \ l_o kemqZyo dh]^Z `Z`^Z h[s_gby hkh[_ggh ih^q_jdgmlZ[eZ]h^Zjy]bihfZgbZdZevghfml_fi_jZf_glm W\Zev^D]jh`^iZjbdfZo_j< rdhe_mqbekyohjhrh<k_]^Zqm\kl\h\Ze`_eZgb_ h[mqZlvky fmaud_ gh nbgZgkh\h_ iheh`_gb_ k_fvb g_ iha\hebeh wlh]h DZd iZjbdfZo_jZ _]h p_gbeb gh _fm kZfhfm wlZ jZ[hlZ q_j_a g_kdhevdh e_l gZkdmqbeZ Hg ohl_e bkiulZlv ©qlh gb[m^vgh\_gvdh_ªkf_gbeg_kdhevdhijhn_kkbcaZl_fklZejZ[hlZlvgZihqlh\hcZ\lhfZrbg_ Ih wlhc ki_pbZevghklb [ue fh[bebah\Zg b jZ[hlZe \kx \hcgm Ihke_ \hcgu kgh\Z klZe iZjbdfZo_jhf @_gbeky Iha^gyy `_gblv[Z h[tykgy_lky ihklhyggufb dhe_[Zgbyfb \ \u[hj_ [m^ms_c`_guD[ueq_eh\_dhf\_k_euf`b\uf\ h[s_kl\_\k_]^Zb]jZejhev©\_joh\h^Zª QZklhjZa\e_dZekh[jZ\rbokybfblbjh\Zgb_fihimeyjguowkljZ^guoZjlbklh\JZa]h\hjqb\hklv [ueZhq_gvdklZlb\ _]hijhn_kkbbk dZ`^ufdeb_glhfhgkjZamgZsmiu\Zel_fm^eyh[s_gby D hohlgh fmabpbjh\Ze b dh]^Z [u\Ze h^bg b \ h[s_kl\_ Hg b]jZe gZ pblj_ ² \Zevku gZjh^gu_i_kgb<h\j_fy[_k_^k gZfbD[ue\k_]^Z\ ohjhr_fgZkljh_gbbjZa]h\hjqb\qZklh hldehgyekyhll_fuH^gZdhDex[beih[ulvb h^bg< lZdb_qZkuhgfgh]hjZafureyefgh]h qblZe ij_bfms_kl\_ggh dgb]b ih l_ogbd_ b ih nbabd_ ]^_ [hevr_ \k_]h bgl_j_kh\Zeky jZaebqgufbnbabq_kdbfbaZdhghf_jghklyfbQZklhqblZeb nZglZklbq_kdb_jhfZguM\e_dZeky Zkljhghfb_c`bagvxa\_a^>mfZeh lhfqlhgZgboijhbkoh^blgZk_e_guebhgbjZamfgufb kms_kl\ZfbihiZ^mlebgZgbodh]^Zgb[m^va_feyg_IulZekyhij_^_eblvf_klhq_eh\_q_kdh]h bg^b\b^mmfZihhlghr_gbxdh\k_e_gghcq_eh\_d`b\_l^he_lZ \_^vA_fe_m`_fbeebhgu e_lHgijhkemrZefgh`_kl\h^hdeZ^h\ihZkljhghfbbaZibkZeky\ Zkljhghfbq_kdbcdjm`hdK Zkljhghfb_ck\yau\Zebkvb _]hfukebh j_eb]bbJmqguojZ[hlDg_ex[beghhg\ujZsb\Ze p\_luihevamykvkijZ\hqghcebl_jZlmjhcHohlghj_rZedjhkk\hj^u I_j_^ gZfb ^hklZlhqgh \ujZ`_gguc ]bihfZgbZdZevguc lbi ² h[sbl_evguc `bag_jZ^hklgucq_eh\_dmf_xsbchj]Zgbah\Zlvex^_c\ h[s_kl\_gZ\_q_jbgd_B \k_`__]h fukeb h[jZs_gu \ hkgh\ghf g_ gZ \g_rgxx klhjhgm `bagb _]h aZgbfZxl jZaebqgu_ ijh[e_fuQZklhhgmghkblky\ g_\_^hfu_^Zebhloh^yhlgZkmsguo`bag_gguoaZ^ZqLZdbf h[jZahf ]bihfZgbZdZevghklv dhlhjZy dZd dZ`_lky gZ i_j\uc \a]ey^ ihjh`^Z_l wdkljZ\_jlbjh\Zgghklv hlgx^v g_ ij_iylkl\m_l bgljh\_jlbjh\Zgghfm h[jZam fuke_c H^gZdh ke_^m_l q_ldh hlebqZlv kemqZb dh]^Z q_eh\_d h[jZs_g d \g_rgbf \i_qZle_gbyf [eZ]h^Zjy k\h_fm l_fi_jZf_glm hl l_o kemqZ_\ dh]^Z wlh ijhbkoh^bl \ k\yab k wdkljZ\_jlbjh\Zgghc Zdp_glmZpb_c l _ dh]^Z hg `b\_l lhevdh fbjhf \hkijbylbb H[_ wlb q_jlu ebqghklb m`b\Zxlky \ h^ghf q_eh\_d_ iZjZee_evgh Lh qlh D bf_e kdehgghklv k m\e_q_gb_f f_gylv ijhn_kkbb fh`gh hlg_klb aZ kq_l ]bi_jlbfbq_kdh]h l_fi_jZf_glZ Z _]h ©i_j_[hjqb\hklvª \ \u[hj_ g_\_klu baaZ g_m\_j_gghklb \ ijZ\bevghklb k^_eZggh]h \u[hjZ [ueZ j_amevlZlhf bgljh\_jlbjh\Zgghc Zdp_glmZpbb ?keb bgljh\_jlbjh\Zgghklv f_g__ aZf_lgZ ijb gZebqbb ohjhrbo dhglZdlh\ k ex^vfbbeb ijb ]bi_jlbfbq_kdhf l_fi_jZf_gl_ lh lZf ]^_dhglZdlu k hdjm`ZxsbfbkeZ[u_hgZhq_gv[jhkZ_lky\ ]eZaZ =_joZj^>]jh`^q_jl_`gbdK ^_lkl\Z[uelbobfaZfdgmlufj_[_gdhf< rdhe_ \k_]^Z ijhy\eye k_[y klZjZl_evguf mq_gbdhf ihemqZe ohjhrb_ hp_gdb ;_a hkh[h]h ljm^Z ijhr_e dmjk \ ijhn_kkbhgZevghl_ogbq_kdhf mqbebs_ JZ[hlZe ^h[jhkh\_klgh K\h[h^gh_ \j_fy m > [ueh \k_]^Z ih]ehs_gh _]h kh[kl\_gguf \gmlj_ggbf fbjhf Hg ba^Z\gZ fgh]h qblZefh]ghqZfbijhkb`b\ZlvgZ^dgb]ZfbHkh[_gghbgl_j_kh\Zeb_]hGbpr_Rhi_g]Zmwjb =_l_©NZmklZª,qZklvhgagZegZbamklvM\e_dZekyZkljhghfb_cikboheh]b_cH[_wlbgZmdb aZgbfZxlky ©\_qgufb \hijhkZfbª ² h kmsghklb \k_e_gghc b h kfuke_ q_eh\_q_kdhc `bagb G_dhlhjh_ \j_fy > ijh[h\Ze k\hb kbeu \ ihwabb gh j_amevlZlh\ lZd b g_ ^hklb] < khhl\_lkl\bb k ijhn_kkbhgZevghc gZijZ\e_gghklvx > hq_gv ex[bl jbkh\Zlv klZjZ_lky ihklhyggh kh\_jr_gkl\h\Zlvky \ q_jq_gbb jbkh\Zgbb <k_f b]jZf hg ij_^ihqblZ_l rZofZlu ihklhygghihdmiZ_lebl_jZlmjmh iZjlbyoq_fibhgh\fbjZrlm^bjm_l__ZgZebabjm_liulZykv mklZgh\blvqlhbf_gghijb\_ehijhlb\gbdZq_fibhgZd ihjZ`_gbxBgh]^Z>b]jZ_lkhk\hbf [jZlhf gh qZs_ kZf k kh[hx K\hbfb m^ZqZfb b g_\a]h^Zfb hg ^_eblky \ k_fv_ b [hevr_ nZdlbq_kdbgb kd_fg_dhglZdlbjm_lM`_j_[_gdhfhgkb^_e^hfZb qblZedh]^Z^jm]b_^_lb b]jZeb< rdhe_ijZ\^Z[uedZdhclhfZevqbdk dhlhjuf>\f_kl_]hlh\bemjhdbghiha`_m g_]h gbdh]^Z g_ [ueh ^jma_c < dbgh \ l_Zlj > \k_]^Z oh^bl h^bg <i_qZle_gbyfb ihjhx djblbq_kdbfbhg^_eblky^hfZkhk\hbfªjh^gufbK ^_\mrdZfbhggbdh]^Zg_dhglZdlbjh\Ze lhjfh`_gby > \ hkgh\ghf b hlghkbebkv d `_gkdhfm ihem Ijb h[ke_^h\Zgbb i_j_^ gZfb ij_^klZe q_eh\_d k \_kvfZ kdmihc fbfbdhc hl\_qZ\rbc gZ \k_ \hijhku k aZibgdhc Ih k\b^_l_evkl\m jh^guo > \k_]^Z [ue djZcg_ aZfdgml ljm^gh [ueh ihgylv qlh m g_]h ijhbkoh^bl\gmljbK_kljZ_]h\ujZabeZkvh >lZd©K gbfg_jZkqm\kl\m_rvkyª < wlhf kemqZ_ h^gh\j_f_ggh k bgljh\_jlbjh\Zgghklv gZ[ex^Z_lky b djZcgyy kdmihklv \ dhglZdlZo > `be lhevdh \ fbj_ k\hbo b^_c < j_amevlZl_ hg \k_ [hevr_ hl^Zeyeky hl hdjm`Zxsbom g_]hg_[uehgbwfhpbhgZevguoijhy\e_gbcgbwfhpbhgZevguoihlj_[ghkl_c gb ^jma_c >hfZ ohly hg b ^_ebeky k jh^gufb f_`^m gbfb \k_]^Z keh\gh klhye g_\b^bfuc [Zjv_j <_kvfZ oZjZdl_jgZy dZjlbgZ gZ[ex^Z_lky ijb khq_lZgbb bgljh\_jlbjh\Zgghklb k ZgZgdZklbq_kdbfb q_jlZfb oZjZdl_jZ Fgh`_kl\h fuke_c \hagbdZxsbo ijb bgljh\_jlbjh\ZgghcZdp_glmZpbbjh`^Zxlijh[e_fudhlhju_lj_[mxlhl\_lZj_r_gby?keb gZclbj_r_gb_g_m^Z_lkybgljh\_jlbjh\Zggucq_eh\_dkfbjy_lkyk wlbfg_j_r_ggu_\hijhku g_klZgh\ylky^eyg_]hijbqbghcihklhygguol_jaZgbcBgZq_[u\Z_l\ l_okemqZyodh]^Zj_qv b^_lh ebqghklbi_^Zglbq_kdhch gZlmj_dhlhjZyg_fh`_lg_^h\_klb^_eh^hdhgpZ:gZgdZkl g_ fh`_l hlh^\bgmlv hl k_[y gb ijh[e_fm gb ly]hklgmx ^mfm hg ^he`_g ©^h dhgpZ \k_ \a\_kblvª _s_ b _s_ jZa iulZykv \k_ ihgylv Hk\h[h^blvky hl \hijhkh\ gZ dhlhjuo kdhgp_gljbjh\Zgh _]h \gbfZgb_ hg g_ kihkh[_g Hg ijh[m_l hlukdZlv hl\_l ^Z`_ gZ l_ nbehkhnkdb_ \hijhku dhlhju_ ihdZ _s_ g_ j_r_gu fbjh\hc gZmdhc < wlbo kemqZyo fu klZedb\Z_fky k dZjlbghc gZ\yaqb\h]h fm^jkl\h\Zgby Gb`_ fu ijb\h^bf kemqZc ]^_ khq_lZxlkyh^gh\j_f_gghq_jlubgljh\_jlbjh\Zgghklbb i_^Zglbqghklb FZgnj_^ K ] jh`^ ke_kZjv < ^_lkl\_ [ue \k_]^Z kihdhcguf mjhdb ]hlh\be gZ kh\_klvk l_ljZ^yfbmq_[gbdZfbh[jZsZekyZddmjZlghkjZam`_ihhdhgqZgbbaZgylbckZ^beky ]hlh\blvky ©gZ aZ\ljZª Gbdh]^Z g_ ijhimkdZe rdhevguo aZgylbc LZd `_ imgdlmZe_g ^h i_^Zglbqghklb hg [ue iha^g__ b \ jZ[hl_ GZ\yaqb\ufb fukeyfb kljZ^Ze _s_ [m^mqb j_[_gdhflh_fmohl_ehkvmdhehlvb]ehcg_agZdhfh]hq_eh\_dZlhhg_e_k^_j`b\Zekyqlh[u g_ ih[blv rdhevgh]h \jZqZ dh]^Z lhl h[ke_^h\Ze rdhevgbdh\ < ^Zevg_cr_f hg kljZ^Ze Z]hjZnh[b_c[hyekybgh]^Zi_j_k_dZlviehsZ^b^Z`_mebpuK\k_]^Z[ue©h^bghqdhcªOhly b [ueh m g_]h ² lh\ZjbsZ gh hkh[_ggh hg ex[be ijh\h^blv \j_fy h^bg aZ jZagufb jmqgufbjZ[hlZfbkfZkl_jbe\hahd^ey[jZlbdZ\_qghqbgbek\hc\_ehkbi_^aZgbfZekyklZjhc jZ^bhZiiZjZlmjhc ohl_e mkh\_jr_gkl\h\Zlv jZ^bhijb_fgbd H^gZ`^u _s_ j_[_gdhf hg ihijh[h\Zemkljhblv\ dhfgZl_djZkb\ucnhglZgbkihevamy^eywlh]hlZabdhg_qgh\k_aZebe \h^hc Hg \hh[s_ ihklhyggh lygmeky bah[j_lZlv qlhgb[m^v >hfZ m k_[y hg [ue ©i_j\uf ki_pbZebklhfªihl_ogbd_bkijZ\eyewe_dljhijh\h^dmiue_khkufbdk_ju<k_]^Zfgh]hqblZe \ hkgh\ghf l_ogbq_kdmx ebl_jZlmjm bgh]^Z ^h ]em[hdhc ghqb Hg ihklhyggh khfg_\Zeky \ ijZ\bevghklbgZibkZggh]h^mfZe©: g_fh]meby \g_klb\ wlml_hjbxqlhgb[m^vgh\h_"ªHg f_qlZe h [hevrbo kh[kl\_gguo bah[j_l_gbyo Bgh]^Z ihy\eyebkv b gZ\yaqb\u_ fukeb GZijbf_j hg ^he]h jZa^mfu\Ze gZ^ \hijhkhf h ijZ\bevghklb ]hjhkdhiZ ohly b agZe qlh \_jblv_fm[_kkfuke_gghIjbql_gbbdgb]hgqZklhaZ^mfu\ZekygZ^l_fijZ\ebZ\lhj\ lhf beb\ ^jm]hfb \hh[s_©qlhhgaZq_eh\_dwlhlZ\lhjªBgh]^Zbfh\eZ^_\Zeh`_eZgb_gZmqgh hij_^_eblv lbi kljmdlmjm ebqghklb dZdh]heb[h q_eh\_dZ gh bgh]^Z _]h aZgbfZeb b [_kkfuke_ggu_\hijhkud ijbf_jmdm^Zb^_lk_cqZkwlhlijhoh`bc"h q_fhg^mfZ_l"KfZeh h[sZekyk ex^vfbghb g_kljZ^Zehlwlh]hkebrdhfhg[ueaZgylk\hbfbfukeyfb< e_l hggZqZemoZ`b\ZlvaZ^_\mrdhcghihqlbgbdm^Zg_oh^bek g_caZqlhhgZgZg_]hh[b`ZeZkv I_j_^dZ`^ufihp_em_fhgmkbe_gghjZafureyeIheh\h]hk[eb`_gbym gbog_ijhbahrehlZd dZdKijhy\bek_[ybfihl_glhf<lhjhcihiuldbhgg_klZeb ^_eZlvZ \f_klhwlh]hba\h^be k_[y fukeyfb h ijbqbgZo lZdhc ly]hklghc k_dkmZevghc ZghfZebb >_\mrdZ \kdhj_ k gbf jZkklZeZkv<h\j_fy[_k_^k gZfbK[uekeh\hhohleb\\_`eb\hohlgh^_ebekyk\hbfbb^_yfb M gZk mklZgh\beky ohjhrbc g_ihkj_^kl\_gguc dhglZdl k gbf Hg ijbkemrb\Zeky d gZrbf kh\_lZf h lhf dZd ij_h^he_lv ljm^ghklb gZeZ`b\Zgby dhglZdlh\ k ex^vfb dZd [hjhlvky k l_g^_gpb_cih^iZ^Zlvih^\eZklvgZ\yaqb\uob^_c I_j_^gZfbq_eh\_dZgZgdZklbq_kdh]hkdeZ^Zk jZgg_]h\hajZklZkljZ^Z\rbcgZ\yaqb\ufb b^_yfbb \e_q_gbyfbBgljh\_jlbjh\Zgghklvxhg\b^bfhlZd`_hlebqZekyk jZgg_]h^_lkl\Z \_^vhgba^Z\gZex[bejZafureylv_]haZgbfZebfukebh ijhqblZgghf\hagyk ©l_ogbdhcªZ g_b]juk lh\ZjbsZfbBgl_j_kd l_ogbd_khojZgbekyb iha`_ihy\beZkvfZkkZdgb]ihl_ogbd_ fgh]hfuke_cihwlhfmih\h^mgZ^_`^Zk^_eZlvk\hbbah[j_l_gby[ulvfh`_l^Z`_hldjulby >Z`_ \ _]h jmqguo jZ[hlZo qm\kl\h\ZeZkv [hevrZy kZfhklhyl_evghklv b klj_fe_gb_ d hjb]bgZevghklbK\hxjZ[hlm\ mqbebs_gZa\Zgb_fZkl_jZhg\uihegbek hldehg_gbyfbhll_o klZg^Zjlh\ dhlhjuf _]h h[mqZeb \g_ky \ g__ k\hb kh[kl\_ggu_ mkh\_jr_gkl\h\Zgby JZafure_gbyqZklhi_j_oh^beb\ gZ\yaqb\u_fukebHgklZ\bei_j_^kh[hc\hijhkuaZ\_^hfh g_jZaj_rbfu_fh`_l[ulvkZf]^_lhkhagZ\ZyqlhbfbaZgbfZlvky[_kkfuke_gghGZ\yaqb\u_ b^_b h[mkeh\e_gu g_khfg_ggh h[hbfb dhfihg_glZfb _]h ebqghklb ;eZ]h^Zjy bgljh\_jlbjh\ZgghklbKhlebqZekybah[beb_ffuke_cb g_kdhgqZ_fufb\hijhkZfb< kbem`_ oZjZdl_jguo q_jl ZgZgdZklZ \hagbdZeb gZ\yaqb\u_ b^_b Ba[Z\blvky hl gbo h[ke_^m_fuc g_ fh] ohly jZamf b ih^kdZau\Ze _fm qlh wlb fmqbl_evgu_ \hijhku g_jZaj_rbfu Ljm^ghklb h[s_gby k `_gsbgZfb lZd`_ k\yaZgu [ueb k h[hbfb dhfihg_glZfb kljmdlmju _]h ebqghklb baaZ bgljh\_jlbjh\Zgghklb hg \hh[s_ fZeh dhglZdlbjh\Ze k ex^vfb oZjZdl_j ZgZgdZklZ \uau\Zelhjfh`_gbyhkh[_ggh\ wjhlbq_kdhch[eZklbl_lZf]^_b mh[uqguogZlmj[u\Z_l ^hklZlhqgh dhe_[Zgbc b g_j\haghklb Hkh[_ggh ex[hiulgmx dZjlbgm ^Z_l khq_lZgb_ bgljh\_jlbjh\Zgghklb b aZklj_\Zxsbo q_jl oZjZdl_jZ Fh`gh [ueh [u ij_^iheh`blv qlh m q_eh\_dZ\ lZdbokemqZyoihy\eyxlkyij_^ihkuedb^eyjZa\blby©k\_jop_gguob^_cªijbwlhf ©k\_jop_gghklvª dhj_gblky \ iZjZghcyevguo q_jlZo ©b^_bª `_ bkoh^yl hl bgljh\_jlbjh\Zgghklb H^gZdh gZr hiul hkgh\u\Zxsbcky gZ nZdlZo ihdZau\Z_l qlh lZdb_ ijhy\e_gbyijb^Zgghfkhq_lZgbbg_h[yaZl_evgu <hevnD]jh`^jZ^bhf_oZgbd< rdhe_g_hlklZ\Zehlk\_jklgbdh\MqZkl\h\Ze\h \k_o bo ijh^_edZo Z ihjhc ^Z`_ \_joh\h^be ihq_fm b \klmiZe \ dhgnebdlu k mqbl_eyfb Kh \j_f_gb gZklmie_gby iheh\hc aj_ehklb dhglZdlbjm_l k khmq_gbdZfb ]hjZa^h f_gvr_ GZ \_q_jbgdbg_oh^blZedh]heyg_ijbagZ_lijbgpbibZevghL_i_jvhgihke_aZgylbcqZs_\k_]h hklZ_lky^hfZqblZ_ldgb]bb ij_^Z_lky nbehkhnkdbfjZa^mfvyf DhglZdl k jh^bl_eyfb lh`_ klZe ]hjZa^h keZ[__ q_fjZgvr_ h \hegmxsbo _]h \hijhkZo D ]h\hjblj_^dh b k g_fgh]bfb Dhgnebdluk mqbl_eyfb[u\Zxlb l_i_jvghm`_ih^jm]hfmih\h^mhgmihjghhlklZb\Z_lk\h_ fg_gb_HgqZklhg_kh]eZrZ_lkyk ]hkih^kl\mxs_clhqdhcaj_gbyhkh[_gghihiheblbq_kdbf \hijhkZf G_kfhljy gZ wlh _]h ihklhyggh ih\urZeb ih kem`[_ lZd dZd D h[eZ^Z_l g_aZmjy^gufb kihkh[ghklyfb B \k_ `_ \h \j_fy \uimkdguo wdaZf_gh\ hg khj\Zeky Hg g_ `_eZe ibkZlv khqbg_gb_ihg_f_pdhc ebl_jZlmj_ \ ^mo_ h[s_ijbgylhc ljZdlh\db ©?keb [u y klZebaeZ]ZlvlZdb_fukeblhhgbreb[u\jZaj_ak fhbfbm[_`^_gbyfbªIhwlhfmD\hh[s_ g_ gZibkZe \uimkdgh]h khqbg_gby K gbf ]h\hjbeb _]h m[_`^Zeb ij_^eZ]Zeb i_j_g_klb kjhd gZibkZgbywdaZf_gZpbhgghcjZ[hlu²gbqlhg_ihfh]ehDkZfuckihkh[gucmq_gbd\ deZkk_ \ j_amevlZl_ g_ ihemqbe Zll_klZlZ aj_ehklb Hg \umqbeky gZ jZ^bhf_oZgbdZ klZe jZ[hlZlv <ijhq_f b gZ jZ[hl_ hg g_j_^dh kihjbe k gZqZevkl\hf H^gZ`^u ^_eh qmlv g_ ^hreh ^h jmdhiZrghc Jh^bl_eyf qZklh ijboh^behkv \f_rb\Zlvky b kfbjblv _]h Ijbau\ \ Zjfbx D \hkijbgye [he__ kihdhcgh q_f h`b^Zeb jh^gu_ D ^h[jhkh\_klgh \uihegye kem`_[gu_ h[yaZgghklbghhllh\Zjbs_cihqZklb^_j`Zeky\ klhjhg_b ihih\h^mk\hboebqguo\a]ey^h\ g_ \ukdZau\Zeky K `_gsbgZfb \ bglbfguo hlghr_gbyo g_ khklhye H^gh \j_fy hg [ue \ex[e_g\ ^_\mrdmgZk\h_fij_^ijbylbbh^gZdhlZdb g_aZf_lbeqlhhgZ^jm`blk ^jm]bf ihdZ g_ [ueh h[ty\e_gh h __ ihfhe\d_ Ihke_ jZ[hlu hg aZgbfZeky kh[kl\_ggufb ^_eZfb b gbdh]^Z g_ kdmqZe QblZe gZmqgu_ l_ogbq_kdb_ dgb]b ^\Z gZmqguo `mjgZeZ ih k\h_fm ijhnbex dhlhju_ kbkl_fZlbq_kdb \uibku\Ze K m\e_q_gb_f aZgbfZeky jZaebqgufb jmqgufb jZ[hlZfb²kljhbemkh\_jr_gkl\h\Zggu_]jhfdh]h\hjbl_ebihk\hbfko_fZfb l^Dhohlgh kh\_jrZe ^ebggu_ ijh]medb mqZkv ijb wlhf jZaebqZlv ]hehkZ ilbp QZklh hg ^_eZe fZ]gblhnhggu_aZibkbilbqvbo]hehkh\Z aZl_fijhb]ju\ZebogZoh^ykvih[ebahklbhlilbp qlh[u ijbfZgblv bo b aZibkZlv ^jm]b_ gh\u_ ]hehkZ Hg ihklhyggh qblZe dgb]b ih hjgblheh]bbIhij_`g_fmDbgl_j_kh\Zeky\hijhkZfbiheblbdbghk fZehagZdhfufb\hh[s_ gbdh]^Z g_ ]h\hjbe gZ wlb l_fu Z k [ebadbfb ² ebrv gZf_dZfb ?]h fg_gby hlebqZebkv k\h_h[jZab_f < gZqZe_ gZrbo [_k_^ D \k_]^Z [ue k^_j`Zg gh ihkl_i_ggh klZgh\beky \k_ ijb\_leb\__ Z ih^ dhg_p [ue ^Z`_ jZ^ \hafh`ghklb ©\u]h\hjblvkyª k ex^vfb dhlhju_ _]h ihgbfZebG_kfhljygZ]hlh\ghklv\dexqblvky\ jZa]h\hjhg\k_]^Zg_fgh]hdhe_[Zekyij_`^_ q_f^Zlvhl\_lD[uehg_ijbylgh©\uiZeb\Zlvªhl\_lug_ijh^mfZ\FbfbdZ_]hlZd`_[ueZ k^_j`Zgghcghijbh[s_fklbe_ih\_^_gby\hkijbgbfZeZkvdZdg_qlh_kl_kl\_ggh_< h[s_fk DgZf\k_]^Zm^Z\ZehkvgZeZ^blv©wfhpbhgZevgucªdhglZdl IZjZghcyevgu_ kdehgghklb m D \ujbkh\u\Zebkv m`_ \ ^_lkl\_ dh]^Z hg [u\Ze aZqbgsbdhf rdhevguo rZehkl_c Iha^g__ hgb yjdh ijhy\eyxlky \ _]h g_ijbfbjbfhklb \ mihjkl\_ GZb[he__ \ujZabl_evgh wlb dZq_kl\Z ijhy\bebkv \h \j_fy wdaZf_gZ gZ Zll_klZl aj_ehklb dh]^Z hg hdZaZeky ]hlh\uf ih`_jl\h\Zlv [m^msbf ebrv [u g_ ibkZlv khqbg_gby ijhlb\hj_qb\r_]h _]h m[_`^_gbyf Bgljh\_jlbjh\Zgghklv ^h iheh\h]h khaj_\Zgby _s_ g_ m^Z_lky dhgklZlbjh\Zlv ² \_^v D lh]^Z kj_^b ^jm]bo \ wlhf ieZg_ gbq_f g_ \u^_eyeky Ke_^m_l ih^q_jdgmlv qlh \ lh \j_fy dZd \k_ q_jlu l_fi_jZf_glZ beb oZjZdl_jZ ebqghklb ijhy\eyxlky m`_ \ ^_lkl\_ k bgljh\_jlbjh\Zgghklvx wlh ^Ze_dh g_ \k_]^Z lZd DZd m`_ ]h\hjbehkv \ur_ \ i_jbh^ iheh\h]h khaj_\Zgby m q_eh\_dZ ijhbkoh^bl i_j_oh^ hl wdkl]jZ\_jlbjh\Zgghklb d bgljh\_jlbjh\Zgghklb <_jhylgh \h fgh]bo kemqZyo j_qv b^_l h kdehgghklb dhlhjZy bf_eZkv b jZgvr_ h^gZdh iheghklvx ijhy\beZkv ebrv l_i_jv Gh g_ bkdexq_ghb ^jm]h_iheh`_gb_Bgljh\_jlbjh\Zgghklv\hagbdZ_llZf]^_\ ^_lkl\_g_[uehb gZf_dZ gZ g__ Fu iheZ]Z_f qlh m D fu klhedgmebkv bf_ggh k lZdbf kemqZ_f >h i_jbh^Z iheh\h]h khaj_\Zgby hg [ue ebqghklvx wdkljZ\_jlbjh\Zgghc dhglZdlghc gh ihke_ iheh\h]h khaj_\Zgby klZe bgljh\_jlbjh\Zgguf q_eh\_dhf Hg hl^Zebeky hl ex^_c `be lhevdh k\hbfb bgl_j_kZfb h[h \k_f bf_e k\h_ bg^b\b^mZevgh_ g_kl_j_hlbigh_ fg_gb_ \ke_^kl\b_ q_]h b ij_\jZsZeky \ h^bghqdm Ij_^iheh`_gb_ qlh khq_lZgb_ aZklj_\Zxs_c b bgljh\_jlbjh\Zgghc klhjhgebqghklbhkh[_ggZ[eZ]hijbylkl\m_liZjZghcyevghfmjZa\blbxm ^Zggh]hh[ke_^m_fh]h g_ ih^l\_j^behkv Fu g_ gZ[ex^Zeb m g_]h ihklhyggh]h m]em[e_gby Znn_dlZ k b^_yfb gZg_k_gbyms_j[Z\ dZdhclhhij_^_e_gghch[eZklbOhlyb^_bbgljh\_jlbjh\Zggh]hq_eh\_dZb fh]ml ^Zlv ibsm ^ey mkbe_gguo ijhy\e_gbc aZklj_\Zgby gh wlh _s_ g_ agZqbl qlh wlb b^_b klbfmebjmxl jZa\blb_ aZklj_\Zgby HiulikbobZljh\ ihdZau\Z_l qlh iZjZghbq_kdh_ jZa\blb_ qZs_ \k_]h \klj_qZ_lky m ]bi_jlbfbq_kdbo ebqghkl_c l_fi_jZf_glhf agZqbl_evgh [hevr_ gZihfbgZxsbo wdkljZ\_jlbjh\Zgguo ex^_c JZkkfhljbf \ dZq_kl\_ ijbf_jZ d\_jmeylhjguc [j_^ dhlhjuc ij_^klZ\ey_l kh[hc gZb[he__ qZklmx nhjfm iZjZghbq_kdh]h jZa\blby G_khfg_ggh ^_eh a^_kv k\yaZgh k lhc kZfhc Zdlb\ghklvx dhlhjhc g_ o\ZlZ_l bgljh\_jlbjh\Zgghc ebqghklb Ke_^h\Zeh [u ijh\_klb ki_pbZevgh_ bkke_^h\Zgb_ qlh[u \uykgblvdZdqZklhkj_^bd\_jmeyglh\ \klj_qZxlky ex^b m dhlhjuo ]bi_jlbfby khq_lZ_lky k wdkljZ\_jlbjh\Zgghklvx G_ bkdexq_gh qlh gZebqb_ bgljh\_jlbjh\Zgghklb fh`_l ©ijbdju\Zlvkyª hij_^_e_gguf l_fi_jZf_glhf Gh Zdlb\ghklv ijb \k_o mkeh\byo hklZ_lky j_rZxsbf nZdlhjhf [_a Zdlb\ghklb g_ fh]ml ih^^_j`b\Zlvky l_ ihklhyggu_ dhe_[Zgby qm\kl\ dhlhju_ e_`Zl \ hkgh\_jZa\blby GZf gZijbf_j g_ jZa ijboh^behkv dhgklZlbjh\Zlv qlh d\_jmeyglu ©g_bkq_jiZ_fuª bf_ggh [eZ]h^Zjy k\h_c ]bi_jlbfbq_kdhc ^_eh\blhklb kha^Zxs_c \k_ gh\u_ dhgnebdlu HibkZggh]h `_ h[ke_^m_fh]h D gbdZd g_evay gZa\Zlv ©Zdlb\gufª q_eh\_dhf ?keb ijb k^Zq_ \uimkdguo wdaZf_gh\ hg _s_ ij_^klZ_l i_j_^ gZfb [hjphf aZ k\hb m[_`^_gby lh iha^g__ hg m`_ kh\k_f g_ iulZeky aZsbsZlv b^_b ohly \k_]^Z [ue ijbgpbibZevguf b hklZ\Zeky ijb k\h_f fg_gbb Fu iheZ]Z_f qlh _keb jZa^_eblv \k_o iZjZghbdh\ gZ kdjuluo b y\guo lh kdjulu_ iZjZghbdb dhlhju_ ijhlb\hklhyl hdjm`Zxs_c ^_ckl\bl_evghklb gh g_ ^_eZxl ba wlh]h ijyfuo \u\h^h\ b g_ ijhy\eyxl k\h_c ihabpbb \ ihklmidZo h[eZ^Zxl bah[j_lZl_evkdhc h^Zj_gghklvx gh ^h\hevkl\mxlky l_f qlh bah[j_lZxl ©^ey k_[yª Hgb fh]ml khq_lZlv \ k_[_ iZjZghcyevghklv b bgljh\_jlbjh\Zgghklv M y\guo hldjuluoiZjZghbdh\lZdh_khq_lZgb_g_\hafh`gh <Z`gmxjhevb]jZ_lkhq_lZgb_bgljh\_jlbjh\Zgghcb ^_fhgkljZlb\ghc Zdp_glmZpbb lZd dZdhghklbfmebjm_lihwlbq_kdh_^Zjh\Zgb_ FZj]bl < ] jh`^ ihqlh\uc jZ[hlgbd < rdhe_ mqbeZkv g_jh\gh __ \k_]^Z hq_gv klbfmebjh\Zeb ohjhrb_ hp_gdb ihemqb\ iehomx hgZ kjZam himkdZeZ jmdb Bgh]^Z < [_a ijbqbgu ijhimkdZeZ rdhevgu_ aZgylby Khmq_gbdb g_ ex[beb __ lZd dZd hgZ ihklhyggh b \h \k_fklj_fbeZkvb]jZlvi_j\mxjhev< e_l<gZqZeZmqblvky\ bgl_jgZl_H[klZgh\dZ\ g_f gZklhevdh _c g_ihgjZ\beZkv qlhhgZ q_j_a g_^_eb m[_`ZeZ hllm^Z <ijhq_f \ ^Zevg_cr_f hgZqm\kl\h\ZeZk_[ydZdibkZeZ\ ^g_\gbd_©b ^hfZdZd\ lxjvf_ª<gZqZeZ\_klb^g_\gbdk e_lM wlh]h^g_\gbdZ[uebkdexqbl_evghg_ZddmjZlguc\b^fZkkZaZq_jdgmluof_klaZibkb jZaguf ihq_jdhf k jZaguf gZdehghf [md\ k jZaguf gZ`bfhf < ^g_\gbd_ djhf_ hibkZgby kh[ulbc ^gy bf_xlky ^h\hevgh \ukhdhf_jgu_ aZf_qZgby h jh^bl_eyo _klv dZjlbgdb gZkljh_gbc g_kdhevdh ijZ\^Z iZl_lbq_kdb_ gh \i_qZleyxsb_ Ijbf_jgh \ wlhl i_jbh^ < gZqZeZ ibkZlv klbob HgZ hq_gv ex[beZ fmaudm b ohjhrh b]jZeZ gZ Zddhj^_hg_ Jbkh\ZeZ < lZd`_g_iehoh Ih^jm] m g__ ihqlbg_[ueh [hevrmx qZklv \j_f_gb hgZ ijh\h^beZ ©k kZfhc kh[hcª < ^he]h g_ fh]eZ \u[jZlv k_[_ ijhn_kkbx <gZqZe_ hgZ jZ[hlZeZ ihfhsgbdhf klhfZlheh]Z aZl_f mkljhbeZkv gZ ihqlm HgZ fgh]h jZa f_gyeZ b f_klh jZ[hlu mki_eZ ihjZ[hlZlv m`_ \ g_kdhevdbo ihebdebgbdZo b \ g_kdhevdbo ihqlh\uo hl^_e_gbyo < f_gyeZ f_klh jZ[hlu Zj]mf_glbjmy wlh l_f qlh ©a^_kv ly`_eh jZ[hlZlvª < ]h^Z \ureZ aZfm` DhglZdl k fm`qbgZfb < mklZgZ\eb\ZeZ [_a \kydh]h ljm^Z Fh]eZ [u \uclb aZfm` b jZgvr_ _keb[uaZfm`_kl\hij_^klZ\eyeh^eyg__bgl_j_kHgZohjhrhk ihevahc^eyk_[yb kiheguf m^h\e_l\hj_gb_f mf_eZ ijh\h^blv \j_fy h^gZ bgl_j_kh\ZeZkv i_^Z]h]bdhc b ikboheh]b_c qblZeZ dgb]b ih wlbf \hijhkZf b k_jv_agh aZ^mfu\ZeZkv gZ^ bo kh^_j`Zgb_f ?s_ ^h wlh]h m\e_dZeZkv obfb_c ]h\hjy qlh ©\ obfbq_kdbo ijhp_kkZo qm\kl\m_lky `bagvª nbabdZ _c g_ bfihgbjh\ZeZ hgZ kqblZeZ __ ©f_jl\hcª gZmdhc < \hkijbgbfZeZ \k_ ih\ur_ggh wfhpbhgZevgh G_dhlhju_ nbevfu __ hq_gv \hegh\Zeb Ih l_e_\b^_gbx hgZ ij_^ihqblZeZ kfhlj_lv iv_ku b l_e_nbevfu ijh[e_fgu_ klZ\ysb_ i_j_^ ajbl_e_f \k_\hafh`gu_ \hijhku Ih wlbf \hijhkZf hgZ ex[beZ ^bkdmlbjh\Zlv k fZl_jvx k fm`_f g_j_^dh hlklZb\ZeZ k\h_ hjb]bgZevgh_fg_gb_?_iheblbq_kdb_\a]ey^u\_kvfZj_adhhlebqZebkvhl\a]ey^h\__kj_^u jh^bl_e_c?_dhgvdhf[ueZl_fZlbdZj_eb]bhagh]hb nbehkhnkdh]hihjy^dZQblZydgb]bhgZ aZ^Z\ZeZkv©ijhdeylufbª\hijhkZfb²dZdh[jZah\ZekygZrfbjgZrZieZg_lZ_klveb[h]²b kihkh[gZ[ueZqZkZfbh[km`^Zlvbok [ebadbfb<gjZ\bebkvb nbevfu©h aZfhjkdbokljZgZoª ?_ `b\h_ \hh[jZ`_gb_ ^hjbkh\u\Zeh ^_lZeb m\b^_ggh]h hgZ bkiulu\ZeZ [hevrh_ m^h\hevkl\b_ < ijbagZ\ZeZkv gZf ©M f_gy nZglZaby gZ j_^dhklv [h]ZlZy nbevfu keh\gh \gmljbf_gykZfhc^_fhgkljbjmxlkyªG_lhevdhnbevfuZ \hh[s_jZagu_`bag_ggu_kh[ulby hgZ qZklh i_j_`b\ZeZ \lhjbqgh ² \ k\h_f \hh[jZ`_gbb K ^_lkl\Z < kdehggZ [ueZ d kgZf gZy\m d f_qlZgbyf HgZ ij_^klZ\eyeZ k_[_ qlh klZg_l \_ebdbf bkke_^h\Zl_e_f \_qgh ZdlmZevguo \hijhkh\ `bagb qlh k^_eZ_l \Z`gu_ hldjulby Hq_gv kh`Ze_eZ h lhf qlh ba __ bkke_^h\Zl_evkdhcdZjv_julZdgbq_]hb g_ihemqbehkv<ijhq_fgZg_ijbylguob i_qZevguo fukeyo < aZ^_j`b\Zlvky g_ ex[beZ hgZ mf_eZ ©k[jhkblv bo k k_[y dZd af_bgmx dh`mª < gbdh]^Zg_bkiulu\ZeZkdh\Zgghklbb ijbim[ebqguo\uklmie_gbyo<uklmiZyk ^hdeZ^hfbeb k g_[hevrhc j_qvx [ueZ kihdhcgZ m\_j_gZ \ k_[_ >ey g__ g_ kms_kl\h\Zeh ©ij_^klZjlh\hc ebohjZ^dbªijbk^Zq_wdaZf_gh\hgZkh\k_fg_\hegh\ZeZkvDhglZdlk <\h\j_fy[_k_^m gZk gZeZ^bekyij_\hkoh^gucHgZgbkdhevdhg_[ueZkdh\Zgghc]h\hjbeZk\h[h^ghhohlgh^Z\ZeZ hl\_lugZ\hijhkuFbfbdZ`_klu__ [uebh`b\e_ggufbghbgh]^Zy\ghmljbjh\Zggufb M wlhc h[ke_^m_fhc y\kl\_ggh jZkihagZxlky q_jlu ^_fhgkljZlb\ghc Zdp_glmZpbb K ^_lkl\Z hgZ klj_fbeZkv [ulv \ p_glj_ \gbfZgby klZjZykv \ lh `_ \j_fy ba[_]Zlv g_ijbylguo i_j_`b\Zgbc k\yaZgguo kh rdhehc HgZ kZfZ ]h\hjbl h kihkh[ghklb ©k[jZku\Zlv k k_[yª ^hdmqeb\u_ ly]hklgu_ fukeb < h[eZ^Z_l ^Zjhf \ul_kgylv ba khagZgby \_sb dhlhju_ aZklZ\eyxl __ g_j\gbqZlv jZkkljZb\Zlvky K lZdhc `_ q_ldhklvx ijhy\ey_lky m < bgljh\_jlbjh\Zgghklv < g_ hlghkblky d `bagb g_cljZevghkihdhcgh \k_ i_j_`b\Zgby __ ]em[hdh aZljZ]b\Zxl hgZ Zdlb\gh ^mfZ_l h[ m\b^_gghf b ijhqblZgghf \klmiZ_l \ kihj k kh[_k_^gbdhfOhlyihh[jZah\Zgbx<g_bf__lhlghr_gbygbd i_^Z]h]bd_gbd ikboheh]bb h^gZdh hgZ ijhy\ey_l bgl_j_k bf_ggh d wlbf h[eZklyf lZd dZd a^_kv fgh]h [ebadbo _c g_j_r_gguoijh[e_fBal_o`_khh[jZ`_gbchgZh[jZsZ_lkyd nbehkhnbbb j_eb]bb Khq_lZgb_ ^_fhgkljZlb\ghc Zdp_glmZpbb k bgljh\_jlbjh\Zgghklvx e_`bl \ hkgh\_ kdehgghklb<d kgZfgZy\mBkl_jbdb\hh[s_kdehggud jZkdh\Zgghfmh[jZaghfmfure_gbx ?kebd wlhckdehgghklbijbkh_^bgy_lkybgljh\_jlbjh\Zgghklvlhjhev\hh[jZ`_gbynZglZabb \ `bag_\hkijbylbb q_eh\_dZ ih^q_jdb\Z_lky _s_ \ [hevr_c f_j_ <k_ \f_kl_ \aylh_ fh`_l hdZaZlvkyihq\hc^eyjZa\blbyihwlbq_kdh]h^Zjh\ZgbyHghijhy\behkvb mgZr_ch[ke_^m_fhc Y m`_ \u^_ebe \ ^Zgghc dgb]_ ^\Z lbiZ Zdp_glmZpbb dhlhju_ kihkh[kl\mxl jZa\blbx Zjlbklbq_kdbo ^Zgguo m q_eh\_dZ wlh \ha[m^bfhklv wfhpbc m aZklj_\Zxsbo ebqghkl_c b ©^_fhgkljZlb\gZy ]hlh\ghklvª ^_fhgkljZlb\guo ebqghkl_c L_i_jv d wlbf ^\mf lbiZf Zdp_glmZpbby fh]m^h[Z\blv\ dZq_kl\_nZdlhjZklbfmebjmxs_]hl\hjq_kdmxgZijZ\e_gghklv ebqghklb _s_ b lj_lbc lbi bgljh\_jlbjh\Zgghklv <u^\b]Z_fuc l_abk g_ h]jZgbqb\Z_lky h^gbf ebrv ihwlbq_kdbf ^Zjhf Z \ jZ\ghc f_j_ hlghkblky d bah[jZabl_evguf bkdmkkl\Zf b kha^Zgbx fmaudZevguo ijhba\_^_gbc ^ey \k_o wlbo \b^h\ l\hjq_kl\Z nZglZaby b h[jZagh_ fure_gb_y\eyxlkygZkmsghcg_h[oh^bfhklvx QZklv,, EBQGHKLV< OM>H@?KL<?GGHCEBL?J:LMJ? Fgh]b_ ibkZl_eb dZd ba\_klgh y\eyxlky ij_\hkoh^gufb ikboheh]Zfb ;m^mqb \_kvfZ gZ[ex^Zl_evgufbhgbh[eZ^Zxlkihkh[ghklvxijhgbdgh\_gby\h\gmlj_ggbcfbjq_eh\_dZD lhfm `_ bo ebl_jZlmjguc ^Zj ihfh]Z_l h[e_qv m\b^_ggh_ b \hkijbgylh_ \ ij_djZkgmx yaudh\mx nhjfm I_j_^ gZfb ij_^klZxl g_ hl\e_q_ggu_ jZkkm`^_gby Z dhgdj_lgu_ h[jZau ex^_ck bofukeyfbqm\kl\ZfbihklmidZfbIbkZl_ebg_\k_]^Zdhg_qghij_^eZ]Zxlj_r_gby ihklZ\e_gguo ijh[e_f ij_^hklZ\eyy k\h[h^m ^ey jZa ebqguo lhedh\Zgbc Ihjhc ijbqbgu ih\_^_gby lh]h beb bgh]h i_jkhgZ`Z lZd b hklZxlky g_jZkdjulufb B \k_ `_ fhlb\u dZdh]h eb[h ihklmidZ beb ih\_^_gby ohly [u ijb[ebabl_evgh ^he`gu \hagbdgmlv \ khagZgbb qblZl_ey\ ijhlb\ghfkemqZ_^_ckl\by]_jh_\fh]mlihdZaZlvkykljZggufbgZ^mfZggufbb ih l_jylv \kydbc ikboheh]bq_kdbc bgl_j_k H[jZsZykv d l\hjq_kl\m ibkZl_e_c y ij_`^_ \k_]h bsm g_ ©ijh[e_fguo ebqghkl_cª lj_[mxsbo hkh[hc jZkrbnjh\db b g_ \k_]^Z jZkdju\Zxsbokyh^ghagZqghImklvlZdb_i_jkhgZ`bb ij_^klZ\eyxlhkh[ucikboheh]bq_kdbc bgl_j_kimklv^Z`_[m^ylfukevh^gZdhy g_klj_fexkvgb ZgZebabjh\Zlvba\_klgu_h[jZaugb ij_^eZ]Zlv bo gh\mx ljZdlh\dm GZijhlb\ y klZjZxkv ebrv ba\e_qv ba om^h`_kl\_ggh]h l\hjq_kl\Z fZl_jbZe ^ey kh[kl\_ggh]h bkke_^h\Zgby h[h]Zlblv _]h ijbf_jZfb ih^l\_j`^Zxsbfbfhbkhh[jZ`_gbyijb^ZxsbfbbfgZ]ey^ghklvY hklZgZ\eb\ZxkvebrvgZ l_o om^h`_kl\_gguo h[jZaZo dhlhju_ iha\heyxl e_]dh hij_^_eblv dZdbf iml_f q_eh\_d ijbr_e bf_ggh d ^Zgguf j_Zdpbyf Bgh]^Z ibkZl_ev kZf ^hklZlhqgh lsZl_evgh bah[jZ`Z_l fhlb\uih\_^_gby]_jh_\bgh]^Z`_wlbfhlb\ukd\haylg_ihkj_^kl\_ggh\ j_qZob ihklmidZo ^_ckl\mxsboebpIjZ\^Zhij_^_eyxsb_ih\_^_gb_fhlb\udhg_qghg_bkdexq_ghgZebqb_b g_kdhevdbofhlb\h\bgh]^Z^Z`_ijyfhijhlb\hiheh`guo_s_g_k\b^_l_evkl\mxlh l_obeb bguo q_jlZo ebqghklb h^gZdh hgb h[tykgyxl ihabpbx q_eh\_dZ \ ^Zgghc kblmZpbb Ih kh^_j`Zgbx ijhba\_^_gby \k_]^Z fh`gh mklZgh\blv k\hckl\_ggu eb j_Zdpbb bah[jZ`_ggu_ ibkZl_e_f ijb ^Zgguo h[klhyl_evkl\Zo gZlmj_ q_eh\_dZ beb `_ wlb j_Zdpbb g_lbibqgu \ua\Zgubkdexqbl_evgufbkh[ulbyfbZ fh`_l[ulvijhklhgZ^mfZguLZdbfh[jZahffgh]b_ h[jZau om^h`_kl\_gghc ebl_jZlmju dhlhju_ ij_^klZ\eyxl hkh[uc ikboheh]bq_kdbc bgl_j_k g_ fh]ml kem`blv fZl_jbZehf ^ey gZr_]h bkke_^h\Zgby b[h ihklmidb i_jkhgZ`_c keh`gu b lj_[mxl ki_pbZevgh]h lhedh\Zgby K r_dkibjh\kdbf FZd[_lhf fu agZdhfbfky \ fhf_gl kh\_jr_gby bf m[bckl\Z fu keurbf _]h ihke_^mxsb_ keh\Z gh dZd bf_ggh ^_eh ^hreh ^h ij_klmie_gby ² km^blv h[ wlhf R_dkibj ij_^hklZ\ey_l gZf kZfbf iml_f kh[kl\_gguo mfhaZdexq_gbc H oZjZdl_j_ FZd[_lZ dhlhjuc g_khfg_ggh kdZau\Zeky _s_ aZ fgh]h e_l ^h aeh^_ygbyg_khh[sZ_lkyihqlbgbq_]h>eygZkykghqlhg_fZeh\Z`gmxjhev\ wlhfoZjZdl_j_ b]jZeb q_klhex[b\u_ fhlb\u H^gZdh ykgh b lh qlh \ ebqghklb FZd[_lZ ij_h[eZ^Zxl q_jlu lj_\h`ghklb < j_rZxsbc fhf_gl kljZo \b^bfh m^_j`Ze [u _]h hl m[bckl\Z _keb [u g_ ih^klj_dZl_evkl\he_^bFZd[_lHiylvlZdbbaaZihklhyggh]hkljZoZi_j_^qv_clhf_klvxhg \ihke_^kl\bb klZgh\blky djh\Z\uf lbjZghf K gZr_c lhqdb aj_gby bf_ggh lZd ke_^m_l ihgbfZlvih\_^_gb_FZd[_lZghaZ^mfZeebkZfZ\lhjw\hexpbx_]hoZjZdl_jZbf_ggh\ lZdhf ieZg_ ² wlhl \hijhk hklZ_lky hldjuluf Ih\_^_gb_ =Zfe_lZ lZd`_ fh`gh ihiulZlvky h[tykgblvbkoh^ybakljmdlmju_]hebqghklb< ebp_=Zfe_lZi_j_^gZfbebqghklv[_amkeh\gh bgljh\_jlbjh\ZggZyHg^Z`_^jmavyf\_kvfZkdmihijbhldju\Z_lk\hc\gmlj_ggbc fbjWlhc q_jlhc hij_^_ey_lky ebgby _]h ih\_^_gby _]h ihklhyggu_ dhe_[Zgby k h^ghc klhjhgu gZf_j_gb_ hlhfklblv aZ hlpZ k ^jm]hc _]h g_`_eZgb_ ij_^ijbgylv dhgdj_lgu_ rZ]b \ wlhf gZijZ\e_gbbH[wlbq_kdbokhh[jZ`_gbyo=Zfe_lZ_^\Zebijboh^blky]h\hjblv_kebm`hgg_ aZ^mfu\Zykvhl^Z_l\ jmdbiZeZqZJha_gdjZgpZb =xev^_gkl_jgZ;jhkZ_lky\ ]eZaZkdehgghklv ijbgpZ^Zlkdh]hihklhygghij_^Z\ZlvkyjZa^mfvyfYjq_\k_]hwlhij_^klZ\e_gh\ agZf_gblhf fhgheh]_ =Zfe_lZ ba ]h ZdlZ dhlhjuc gZqbgZ_lky keh\Zfb ©;ulv beb g_ [ulv ² lZdh\ \hijhkª>Ze__ke_^m_l LZdljmkZfbgZk^_eZ_ljZa^mfv_ B lZdj_rbfhklbijbjh^gucp\_l Obj__lih^gZe_lhffukeb[e_^guf B gZqbgZgvy\hag_krb_kyfhsgh K\hjZqb\Zy\ klhjhgmk\hcoh^ L_jyxlbfy^_ckl\by <_ebdZykdehgghklvfukeblv\a\_rb\Zlvkem`bl=Zfe_lmihf_ohcd ijbgylbxj_r_gbc dhlhju_ ^bdlmxlky dhgdj_lgufb nZdlZfb bgufb keh\Zfb ©gZe_l fukeb [e_^ghcª ij_iylkl\m_l _]h Zdlb\ghklb IhZg]ebckdb wlh f_klh a\mqbl lZd ©$QG WKXV WKH QDWLYH KXH RI UHVROXWLRQ,VVLFNOLHGR HUZLWKWKHSDOHFDVWRIWKRXJKWª Bgljh\_jlbjh\Zgghklvg_lhevdh=Zfe_lZ ghb fgh]boex^_cebrZ_ljZ^hklbijbgylbyj_r_gby Fgh]b_ ijh[e_fgu_ h[jZau fbjh\hc om^h`_kl\_gghc ebl_jZlmju fh]ml [ulv jZkdjulu ijbihfhsbZgZebaZkljmdlmjuboebqghklbH^gZdhlZdhcp_eby i_j_^kh[hcg_klZ\ex^ey f_gyij_^klZ\eyxlbgl_j_kebrvl_h[jZaudhlhju_g_lj_[mxlhkh[h]hlhedh\Zgbydhlhju_ ^hklZlhqghjZkdjulukZfbfibkZl_e_f?kebbkdZlv\ om^h`_kl\_gghcebl_jZlmj_beexkljZpbb Zdp_glmbjh\Zgguoebqghkl_clhj_qvfh`_lb^lbebrvh i_jkhgZ`Zo\iheg_`bag_gguoohly g_dhlhju_ bo q_jlu b g_ ebr_gu ba\_klgh]h ihwlbq_kdh]h ij_m\_ebq_gby GZjy^m k gbfb \ om^h`_kl\_gguo ijhba\_^_gbyo \klj_qZxlky b oZjZdl_ju kh\k_f bgh]h lbiZ gZijbf_j ebqghklbb^_Zevgu_bebi_jkhgZ`bij_^klZ\eyxsb_kh[hc\hiehs_gb_dZdh]heb[hijbgpbiZ ² aeZ ^h[jZ \ha\ur_ggh]h gZqZeZ kijZ\_^eb\hklb gZkbeby bgh]^Z ]_jhb dgb] y\eyxlky ihijhklm ]eZrZlZyfb lhc beb bghc b^_b Ih wlhfm ih\h^m bgl_j_kgh \ukdZau\Zgb_ >hklh_\kdh]h\ _]hjhfZg_©B^bhlªk ?klv ex^b h dhlhjuo ljm^gh kdZaZlv qlhgb[m^v lZdh_ qlh ij_^klZ\beh [u bo jZahf b p_ebdhf \ bo kZfhf lbibq_kdhf b oZjZdl_jghf \b^_ wlh l_ ex^b dhlhjuo h[udgh\_ggh gZau\Zxl ex^vfb ©h[udgh\_ggufbª ©[hevrbgkl\hfª b dhlhju_ ^_ckl\bl_evgh khklZ\eyxl h]jhfgh_ [hevrbgkl\h \kydh]h h[s_kl\Z IbkZl_eb \ k\hbo jhfZgZo b ih\_klyo [hevr_x qZklbx klZjZxlky [jZlv lbiu h[s_kl\Z b ij_^klZ\eylv bo h[jZagh b om^h`_kl\_ggh ² lbiu qj_a\uqZcgh j_^dh \klj_qZxsb_ky \ ^_ckl\bl_evghklb p_ebdhf ohly hgb l_f g_ f_g__ _s_ ^_ckl\bl_evg__ kZfhc ^_ckl\bl_evghklb Ih^dhe_kbg \ k\h_f lbibq_kdhf \b^_ fh`_l [ulv ^Z`_b ij_m\_ebq_gb_ gh hlgx^v g_ g_[u\ZevsbgZ DZdh_ fgh`_kl\h mfguo ex^_c magZ\ hl =h]heyijhIh^dhe_kbgZlhlqZk`_klZebgZoh^blvqlh^_kyldbb khlgbbo^h[juoagZdhfuob ^jma_cm`Zkghihoh`bgZIh^dhe_kbgZ BlZd ih >hklh_\kdhfm \ om^h`_kl\_gghc ebl_jZlmj_ hlgx^v g_ h[yaZl_evgh ^he`gu bah[jZ`Zlvky ex^b ba j_Zevghc `bagb ^hklZlhqgh qlh[u hgb ij_^klZ\eyeb dZdmxgb[m^v oZjZdl_jgmx`bag_ggmxq_jlm;m^mqbij_m\_ebq_gghcwlZq_jlZhkh[_ggh[jhkZ_lky\ ]eZaZ gh i_jkhgZ` baaZ wlh]h g_ i_j_klZ_l [ulv ^ey gZk ih^ebgguf `b\uf b q_flh [ebadbf gZf q_eh\_dhf >hklh_\kdbc bf__l \ \b^m g_ lhevdh h[jZau kha^Zggu_ bf kZfbf Hg mihfbgZ_l Ih^dhe_kbgZ ba dhf_^bb =h]hey ©@_gblv[Zª Ih^dhe_kbgohq_l `_gblvky gh gbdZd g_ fh`_l j_rblvky gZ wlhl rZ] >jm] m[_`^Z_l _]h \ g_h[oh^bfhklb \klmiblv \ [jZd Z hg lh ijb[eb`Z_lky d j_r_gbx lh kdhjhiZebl_evgh hlklmiZ_l hl g_]h < dhgp_ dhgph\ Ih^dhe_kbg i_j_^ kZfhc k\Z^v[hc \uiju]b\Z_l ba hdgZ qlh[u ba[Z\blvky hl k_c i_jki_dlb\u Dhg_qgh fgh]b_ fm`qbgu jh[_xl ]h\hjbl >hklh_\kdbc i_j_^ \klmie_gb_f \ [jZd hgb iulZxlky hlh^\bgmlvhdhgqZl_evgucrZ]beb^Z`_\h\k__]hg_^_eZlvGhlZdh_hlghr_gb_d `_gblv[_ hklZ_lky \ ^Zgghf kemqZ_ l_f _^bgkl\_gguf h[klhyl_evkl\hf dhlhjh_ ^Z_l gZf \hafh`ghklv ihqm\kl\h\Zlv \ Ih^dhe_kbg_ gZklhys_]h `b\h]h q_eh\_dZ Km^blv ih wlhfm fhf_glm h kljmdlmj_ _]h ebqghklb _^\Z eb \hafh`gh b[h qblZl_ex kh\_jr_ggh g_ykgh ihq_fm hg lZd lj_i_s_li_j_^`_gblv[hc>Zb hklZevgu_q_jlu_]hebqghklbhklZxlky\ l_gbKqblZlv]_jhy ijhba\_^_gby lbibqguf \iheg_ \hafh`gh ^Z`_ lh]^Z dh]^Z ba\_klgZ ebrv h^gZ _]h oZjZdl_jgZy q_jlZ \klj_qZxsZyky \ ikboheh]bq_kdhf ieZg_ m fgh]bo ex^_c Gh \ kemqZ_ k Ih^dhe_kbguffubf__f^_ehg_k ebqghklvx²\_^vdjhf_h^ghc`b\hcq_jlu\k_hklZevgh_ \ g_f²imklZyh[hehqdZLh`_fh`ghkdZaZlvb h^jm]hfijbf_j_ijb\_^_gghf>hklh_\kdbf IbkZl_ev mdZau\Z_l gZ @hj`Z >Zg^_gZ ba dhf_^bb Fhev_jZ pblbjmy _]h keh\Z ©Lu wlh]h ohl_e@hj`>Zg^_gª ©Gh [h`_ kdhevdh fbeebhgh\ b [beebhgh\ jZa ² ibr_l >hklh_\kdbc ² ih\lhjyeky fm`vyfbp_eh]hk\_lZwlhldjbdhlqZygbyihke_bof_^h\h]hf_kypZZ dlhagZ_lfh`_l[ulvb gZ^jm]hc^_gvihke_k\Z^v[uª;_amkeh\gh\_jghqlhg_dhlhju_fm`vyihke_f_^h\h]hf_kypZ k m`Zkhf aZf_qZxl qlh hgb ihiZeb \ijhkZd ihlhfm qlh \ hkgh\m [m^ms_]h [jZdZ bfb [ueb iheh`_gu lhevdh khh[jZ`_gby km]m[h fZl_jbZevgh]h ihjy^dZ gh wlZ `bag_ggZy fm^jhklv \ dhf_^bb Fhev_jZ g_ k\yaZgZ k bg^b\b^mZevghklvx i_jkhgZ`Z >Zg^_g \ugm`^_g ihdhjgh kghkblv gZkf_rdb `_gu b __ jh^bl_e_c b[h _fm ^Zxl ihgylv qlh [jZd k hkh[hc ^\hjygkdhc djh\bjZkp_gb\Z_lkydZdhdZaZggZy_fmfbehklv@_gZgZ]ehh[fZgu\Z_l_]hDh]^Z`_>Zg^_gm dZ`_lkyqlh\hlhgZgZdhg_pihiZeZkv`_gZ\ dhlhjucjZaba\hjZqb\Z_lkyb \_^_lk_[ydZdgb \ q_fg_[u\Zeh< dhgp_dhgph\>Zg^_gmijboh^blkymgb`_gghijhkblvijhs_gbym `_gub __ ex[h\gbdZaZydh[ug_kijZ\_^eb\u_h[\bg_gby\ boZ^j_k?keb[u>Zg^_g\ ikboheh]bq_kdhf ieZg_[ueij_^klZ\e_gdZdebqghklvqblZl_evbebajbl_evmagZe[u\ kbemdZdhc\gmlj_gg_c ihabpbb >Zg^_g hqmlbeky \ klhev ieZq_\ghf iheh`_gbb b ihq_fm hg l_jyy qm\kl\h kh[kl\_ggh]h ^hklhbgkl\Z ijh^he`Z_l l_ji_lv Gh h[ wlhf ^jZfZlmj] gbq_]h g_ ]h\hjbl B kgh\ZgZ[ex^Z_flm`_dZjlbgm²oZjZdl_jgu_j_Zdpbb\ oZjZdl_jghc`bag_gghckblmZpbbdZd [u g_ ijbgZ^e_`Zl `b\hfm j_Zevghfm q_eh\_dm Z ihijhklm ihf_s_gu \ imklmx h[hehqdm HklZgh\bfky l_i_jv gZ h[jZaZo om^h`_kl\_gghc ebl_jZlmju dhlhju_ ikboheh]bq_kdb \uibkZgu [he__ lsZl_evgh Z fh`_l [ulv b aZ^mfZgu dZd ki_pbZevgu_ ikboheh]bq_kdb_ wlx^u < wlbo kemqZyo mkbeb\Z_lky g_ h^gZ dZdZyeb[h `bag_ggZy q_jlZ k __ ijhy\e_gbyfb Z bah[jZ`Z_lky q_eh\_d \ p_ehf dhlhjuc fukebl qm\kl\m_l b ^_ckl\m_l H^gZdh l_ beb bgu_ bg^b\b^mZevgu_ q_jlu ^Zgguo ]_jh_\ g_ lhevdh ]bi_j[hebabjh\Zgu hgb j_adh bkdZ`Zxl ^_ckl\bl_evghklv ?keb g_h[uqgZy ebgby ih\_^_gby ]_jhy \uoh^bl aZ ij_^_eu `bag_gguo j_Zdpbc fu g_ fh`_f gb ijhqm\kl\h\Zlv lZdh]h ih\_^_gby gb khqm\kl\h\Zlv lZ dhfm ]_jhx _]hih\_^_gb_g_kh\f_klbfhk h[t_dlb\ghc^_ckl\bl_evghklvxb fuikboheh]bq_kdbhljbpZ_f _]h GZijbf_j \ ©Bjh^_ b FZjbZfg_ª =_[[_ey Bjh^ ^\Z`^u hl^Z_l jZkihjy`_gb_ h lhf qlh FZjbZfgZ^he`gZ[ulvm[blZ_kebhgg_\_jg_lky`b\uflZddZdhgZg_^he`gZklZlv`_ghc ^jm]h]hfm`qbguF_`^ml_fFZjbZfgZ_s_gbq_]hg_agZyh[wlhfjZkihjy`_gbbihdeyeZkv ihdhgqblv`bagvkZfhm[bckl\hf_kebmagZ_lh ]b[_ebBjh^Zdhlhjh]h]em[hdhex[blMagZ\h _]hjZkihjy`_gbyohgZ^hlZdhckl_i_gb\hafms_gZb hkdhj[e_gZqlh\ha\h^blgZk_[yeh`gh_ h[\bg_gb_ Dh]^Z Bjh^ \ha\jZsZ_lky hgZ ijbl\hjy_lky qlh baf_gbeZ _fm k l_f qlh[u lhl ijb]h\hjbe__ dkf_jlb?keb[ulZdZykblmZpby\ ijbgpbi_[ueZ\hafh`gZhgZg_khfg_ggh ij_^klZ\eyeZ [u h]jhfguc bgl_j_k Gh _^\Z eb fh`gh \hh[jZablv k_[_ g_qlh ih^h[gh_ g_\bggZyex[ysZy`_gsbgZb^_lgZkf_jlvqlh[u\ lZdhcnhjf_khojZgblvk\h_^hklhbgkl\hb gZdZaZlv fm`qbgm dhlhjuc ihijZe _]h <_^v d kf_jlb lml \_^_l ijbgpbi `_gkdhc q_klb b `_gkdh]h ^hklhbgkl\Z gh ijbgpbi hl\e_q_gguc fu g_ \b^bf ]g_\Z `b\h]h q_eh\_dZ kZfhex[b_ dhlhjh]h aZ^_lh Lhqgh lZd `_ \ ©;jZg^_ª B[k_gZ ijbgpbi hdZau\Z_lky ij_\ur_ \kydbomaq_eh\_q_kdboJb]hjbaflZdh]hfZkrlZ[ZdZdm ;jZg^Z_]hijbgpbi©\k_bebgbq_]hª \uoh^bl aZ ij_^_eu ikboheh]bq_kdb fukebfh]h Bah[jZ`_gb_ klhev djZcgbo ihabpbc ^ey ikboheh]Z _^\Z eb ijb_fe_fh _s_ b ihlhfm qlh qm\kl\Z kms_kl\mxsb_ m ex[h]h q_eh\_dZ ihfbfh wlbo djZcghkl_c g_ ijbgbfZxlky ibkZl_e_f \ jZkq_l beb \h \kydhf kemqZ_ g_^hhp_gb\Zxlky ;jZg^ hlj_dZ_lky hl fZl_jb `_jl\m_l `_ghc b j_[_gdhf < ©Dmdhevghf ^hf_ªB[k_gdZd[ug_aZf_qZ_llh]hdZdijb\yaZgZdZ`^Zy`_gsbgZd ^hfmhkh[_gghd ^_lyf ?kebGhjZihdb^Z_lfm`Zb ljhbofZe_gvdbo^_l_cdhlhjuo]hjyqhex[blihlhfmebrvqlhgZ g__\k_]^Zkfhlj_ebdZdgZ`_gsbgmdmdem²wlhhiylvlZdbfh`ghihgylvbkdexqbl_evghdZd ijbgpbighg_k lhqdbaj_gbyikboheh]bbIjZ\^ZlhlnZdlqlhfm`\ qZk__ bkiulZgbc^mfZ_l lhevdhh k_[_h k\h_cq_klblh]^ZdZdGhjZ\ ly`_eu_^eyg_]hfbgmlu\ fukeyo\k_]^Z[ueZk gbfijheb\Z_lg_dhlhjuck\_lgZ__j_r_gb_H^gZdh^Z`_ijbwlbomkeh\byoh fZl_jbgkdhc ex[\b h ^he]_ fZl_jb g_ lZd m` ijhklh `_gsbg_ ihaZ[ulv GZah\m _s_ h^bg ijbf_j ² Bnb]_gby ba h^ghbf_gghc^jZfu JZkbgZ >jZfZlmj] fh`_l kdhevdh m]h^gh m[_`^Zlv gZk qlh Bnb]_gby k ]em[hqZcr_c ex[h\vx b k g_h[udgh\_ggh jZa\bluf qm\kl\hf ^he]Z hlghkblky d k\h_fm hlpm gh ikboheh]bq_kdb g_ \hafh`gh k_[_ ij_^klZ\blv qlh[u ^_\mrdZ dhlhjZy ih ijbdZamhlpZ^he`gZ[ulvaZj_aZgZgZZelZj_h^gh]hba[h]h\fh]eZ]h\hjblvk Hl_pij_^Zl_evkl\Zg_[hckyLuih\_ebrvb [m^my ihkemrgZ@bagvfhyijbgZ^e_`bl l_[_ B _keb kf_jlv Ba[jZlv ^he`gZ y lh ^hklZlhqgh l_[_ ebrv ijbdZaZlv Kihdhcgh b k m^h\e_l\hj_gb_f\h\ahj_DZd[uehdh]^Zf_gykh_^bgyek kmijm]hfluY iheh`m]eZ\mgZ dZf_gv `_jl\_gguc B g_ bkim]Zxkv dh]^Z DZeoZkZ f_q __ hljm[bl Y [m^m [eZ]h^ZjgZ aZ m^Zj\_^vgZg_kml_]hihl\h_fm\_e_gvxB lZdbkihegblkyfh_ij_^gZagZq_gv_ Dh]^Z qblZ_rv wlb keh\Z ihgbfZ_rv qlh ^jZfZlmj] bah[jZ`Z_l g_ `b\h]h q_eh\_dZ Z hiylv `_ ijbgpbi ijbgpbi [_ah]h\hjhqgh]h ih\bgh\_gby ^_l_c hlpZf ijhih\_^h\Z\rbcky \ ^j_\ghklb Ijhh[jZahf Bnb]_gbb JZkbgZ kem`bl Bnb]_gby ?\jbib^Z M ?\jbib^Z Bnb]_gby ijhbaghkbllZdb_`_\ukhdhiZjgu_b ikboheh]bq_kdbg_ijZ\^hih^h[gu_keh\Zghhgba^_kv\ f_gvr_cf_j_hlghkylkyd hlpmhgbh[jZs_guij_`^_\k_]hd [h]Zfb djh^bg_²WeeZ^_k JZ^bhl_q_kl\Zb \k_cWeeZ^uK_[y]hlh\gh\ `_jl\mijbghrmImklvih\_^mlf_gyD [h]bgbZelZjxb lZfdZd`_jl\_ggh]hZ]gpZAZdhexlB[hlh]hihlj_[h\Zeb[h]b OM>H@?KL<?GGU? IJHBA<?>?GBY K IKBOHEH=BQ?KDHC HKGH<HC ;?A <U>?E?GBYBG>B<B>M:EVGHKLBEBQGHKLB QZklh ibkZl_eb f_gvr_ m^_eyxl \gbfZgby ikboheh]bb k\hbo ]_jh_\ q_f kh[ulbyf dhlhju_ ^he`gu [ulv g_h[udgh\_ggufb gZijy`_ggufb wfhpbhgZevgufb ihmqbl_evgufb b l i KemqZcghklb b g_\_jhylghklb ikboheh]bq_kdh]h ihjy^dZ \ hij_^_e_ggu_ ebl_jZlmjgu_ wihobkh\_jr_gghg_kfmsZxlqblZl_eyb \hkijbgbfZxlkybfdZd\_sbkZfu_h[udgh\_ggu_ LZdgZijbf_j©Gh\_eeuªK_j\Zgl_kZdhlhjucihdZaZek_[y\u^Zxsbfkyikboheh]hf\ ©>hg Dbohl_ª bah[bemxl ]jm[_crbfb ikboheh]bq_kdbfb gZly`dZfb b g_ijZ\^hih^h[gufb ^_lZeyfb gbkdhevdh \b^bfh g_ m^b\ey\rbfb qblZl_e_c _]h wihob G_ijZ\^hih^h[gu_ ikboheh]bq_kdb_ kblmZpbb g_j_^dh \klj_qZxlky b m Ehi_ ^_ <_]Z Dh]^Z \ om^h`_kl\_gghc ebl_jZlmj_ klZeb ]hkih^kl\mxsbfb gh\u_ l_q_gby ² j_Zebaf b gZlmjZebaf iheh`_gb_ g_kdhevdhbaf_gbehkvghgZly`dbikboheh]bq_kdh]hihjy^dZ\k__s_ij_^klZ\e_gu\ bah[bebb <g_rgb_ i_jbi_lbb kx`_lZ ijh^he`Zxl b]jZlv g_fZeh\Z`gmx jhev Ih kjZ\g_gbx k g_h[uqghklvxkZfbokh[ulbcbg^b\b^mZevghklv]_jhydZd[uhlklmiZ_lgZ\lhjhcieZggb _]h oZjZdl_j gb ihklmidb g_ hlebqZxlky k\h_h[jZab_f ?keb ^Z`_ ]_jhc b \f_rb\Z_lky \ ijhbkoh^ys__lh_]hj_Zdpbbgbq_fhkh[_ggufg_ijbf_qZl_evguWlhj_Zdpbbk\hckl\_ggu_ \ ih^h[ghf iheh`_gbb ex[hfm q_eh\_dm ]_jhc kljZ^Z_l [hj_lky k ly]hlZfb `bagb bs_l \uoh^Z ba kha^Z\r_]hky iheh`_gby dh]^Z d g_fm ijboh^bl kqZklv_ klZjZ_lky m^_j`Zlv _]h gZkeZ^blvky bf kihegZ < ^jm]bo kemqZyo j_Zdpbb i_jkhgZ`_c om^h`_kl\_ggh]h ijhba\_^_gby g_ klhev h[sb =_jhb fh]ml hdZaZlvky k fhjZevghc lhqdb aj_gby ex^vfb ^h[jufb beb g_^h[jufb fh]ml [ulv p_e_mklj_fe_ggufb h[eZ^Zlv \u^_j`dhc gh fh]ml h[gZjm`blv b fZeh^mrb_ g_j_rbl_evghklv fh]ml [ulv aZfdgmlufb b gZ ijhlb\ hq_gv hldjh\_ggufb g_dhlhju_ij_^klZxli_j_^gZfbj_adbfbb [_kp_j_fhggufb^jm]b_qmldb\k_]^Z]hlh\uijh lygmlvjmdmihfhsbb l^Ghebgbbih\_^_gbydZ`^h]hbagbog_jZajZ[Zlu\ZxlkyZ\lhjZfb qblZl_ex ij_^eZ]Z_lky dZd [u ]hlh\uc h[jZa_p ^h[jhlu wg_j]bqghklb b l i Bklbggmx ikboheh]bq_kdmxhkgh\mih\_kl\h\Zgb_h[j_lZ_lebrv\ lhfkemqZ_dh]^ZibkZl_ev[he__q_ldh h[hkgh\u\Z_lhkh[_gghklbih\_^_gby]_jhyl_ eb[h \k_klhjhgg_ ihdZau\Z_l gZfg_h[uqgmx q_eh\_q_kdmxbg^b\b^mZevghklveb[hbah[jZ`Z_lw\hexpbx²k\h_h[jZab_ijhp_kkZjZa\blby ^Zgghcbg^b\b^mZevghklbH^gZdhh[uqghibkZl_ebhklZ\eyxlhldjuluf\hijhkihq_fmex^b \_^ml k_[y bf_ggh lZd Z g_ bgZq_ hljZ`Z_lky \ ihklmidZo hij_^_e_ggZy kljmdlmjZ ebqghklb beb ihijhklm lZd keh`bebkv h[klhyl_evkl\Z dZd ijbgylh ]h\hjblv lZdh\Z km^v[Z >Z`_ ijb djZcgboh^ghagZqguo ijhy\e_gbyo oZjZdl_jZ fh`_l [ulv g_ykgh dZd b ih dZdhc ijbqbg_hgb \hagbdZxlGZijbf_j]_jhcgh\_eeuK_j\Zgl_kZ©J_\gb\ucwklj_fZ^mj_pªg_\_jhylghj_\gb\ Hg ijbgbfZ_l \k_\hafh`gu_ f_ju qlh[u bahebjh\Zlv k\hx xgmx `_gm hl \g_rg_]h fbjZ HklZ_lky h^gZdh g_ ykguf ihq_fm hg klZe lZdbf j_\gb\uf b[h djhf_ wlh]h ]heh]h nZdlZ h g_fihqlbgbq_]hg_ba\_klghDhg_qghihkdhevdmhgklZjZ `_gZ_]hfheh^Zfh`ghihgylv qlh hg kdehg_g d j_\ghklb l_f [he__ qlh j_\gb\p_f [ue \k_]^Z b bf_ggh ihwlhf kebrdhf iha^gh `_gbeky Gh ihq_fm bf_ggh hg [ue \k_]^Z klhev kdehg_g d j_\ghklb b ihq_fm ih hlghr_gbx d `_g_ ^_eh ^hreh ^h lh]h qlh hg aZi_j __ dZd \ ]jh[gbp_ \ ^hf_ ]^_ \_e_e aZfmjh\Zlv\k_hdgZK_j\Zgl_kgbq_]hg_]h\hjblHgaZ^Zekyp_evxbah[jZablv^hdjZcghklb j_\gb\h]hq_eh\_dZdhlhjucg_kfhljygZ\k_k\hb\Zj\Zjkdb_mobsj_gby\k_lZdbhdZau\Z_lky h[fZgmluf lhevdh ebrv wlh bgl_j_km_l Z\lhjZ Z \h\k_ g_ ikboheh]bq_kdbc \hijhk ² dZd q_eh\_d^hoh^bl^hlZdboihklmidh\Ihkdhevdmikboheh]bq_kdb_ih^jh[ghklbhklZxlky\ l_gbª qZklh[u\Z_lg_ykghg_fh]ebwlhl]_jhchdZaZlvkykh\k_f^jm]bfl_\hafh`ghhgebrv\ ^Zgghc qZklghc kblmZpbb j_Z]bjm_l ih^h[guf h[jZahf LZd gZijbf_j ihq_fm :ev[j_ol kug ]_jph]Z\ jhfZg_=_[[_ey©:]g_kkZ;_jgZmwjª\_^_lk_[ybgZq_q_f^jm]b_ZjbklhdjZlu"Ebrv ihlhfmqlhhgihex[be[eZ]hjh^gmx^_\mrdmba[xj]_jkdh]hkhkeh\by";ulvfh`_liha^g__ m`_g_[m^mqb\ex[e_gguf:ev[j_olklZg_llZdbf`_dZdb _]hhl_p^eydhlhjh]hiheh`_gb_ \ h[s_kl\_ agZqbl [hevr_ q_f `bagv gb \ q_f g_ ih\bgghc `_gsbgu" : fh`_l [ulv hg ih gZlmj_^jm]hcq_eh\_d"Fuwlh]hlZdb g_magZ_fb[hibkZl_eybgl_j_km_lebrvnZdlbq_kdZyZ lZd`_ khpbZevgZy klhjhgZ \hijhkZ l _ dhgnebdl f_`^m q_eh\_qghklvx b ]hkm^Zjkl\_gghc g_h[oh^bfhklvx\ebygb_lZdh]hdhgnebdlZgZ^mrmq_eh\_dZJ_Zdpbbebqghklbg_aZgbfZxl _]hQlhdZkZ_lky:]g_kkulh__ j_Zdpbb\hh[s_g_ij_^klZ\eyxlhkh[h]hbgl_j_kZHgZ[_amfZ \ex[ey_lky \ :ev[j_olZ kh]eZrZ_lky klZlv _]h `_ghc ² \k_ wlh [he__ q_f ihgylgh k q_eh\_q_kdhc lhqdb aj_gby < ^Zevg_cr_f d ^jZfZlbq_kdhfm nbgZem :]g_kkm lhedZxl h[klhyl_evkl\Z \ dhlhjuo hgZ kZfZ gbq_]h g_ \ kbeZo baf_gblv hgZ y\ey_lky g_ [he__ q_f ex[ys_c`_gsbghcdhlhjZyg_[m^mqbgb \q_f\bgh\ghc^he`gZ\ahclbgZwrZnhlG_j_^dh ibkZl_eb hibku\Zxl \gmlj_gg__ ^mr_\gh_ khklhy gb_ k\hbo ]_jh_\ \hagbdZxs__ dZd j_Zdpby gZl_bebbgu_kh[ulbyLZdh_hibkZgb_ghkbl\a\hegh\ZggucoZjZdl_jb qblZl_e_c]em[hdh ljh]Z_l km^v[Z ebl_jZlmjguo ]_jh_\ JZkkfZljb\Zy jZa\blb_ nZ[meu ih^ ©\gmlj_ggbfª m]ehf aj_gby ibkZl_ev fh`_l k\_klb nZdlbq_kdb_ kh[ulby d h^ghc ebrv jZfd_ \ dhlhjmx dZd [u \klZ\e_gh hkgh\gh_ ² fukeb `_eZgby b qm\kl\Z q_eh\_dZ LZd ihkljh_gZ [hevrZy qZklv ijhba\_^_gbcO_fbg]mwyhkh[_ggh_]hhibkZgbygZkljh_gbcIbkZl_ebihdZau\Zxll_fkZfuf qlh hgb kihkh[gu d khi_j_`b\Zgbx gh gZa\Zlv wlhl jh^ baeh`_gby ikboheh]bq_kdbf \ bklbgghfkfuke_keh\Zm gZkg_lhkgh\Zgbcihkdhevdm\gmlj_ggyy`bagv^_ckl\mxs_]hebpZ bah[jZ`_gZa^_kv\ h[s_fieZg_\ g_cg_gZoh^ylhljZ`_gbyj_Zdpbbkm]m[hbg^b\b^mZevgh]h oZjZdl_jZ IbkZl_eb bah[jZ`Zy ^mr_\gmx `bagv ]_jhy kdehggu h[jZsZlvky d _]h ]em[hdbf qm\kl\Zf²ihdZaZlv_]h\ [hevrhf]hj_\ jZ^hklbP_evbo²\ua\Zlvbkdj_gg__khqm\kl\b_d k\h_fm]_jhxGhhgbqZklhg_klZjZxlkym[_^blvgZk\ lhfqlh]_jhc^_ckl\bl_evghbkiulZe klhev ly`db_ kljZ^Zgby beb qlh hg [ue \ kZfhf ^_e_ g_kdZaZggh jZ^ : f_`^m l_f bah[jZ`_ggu_ bf h[t_dlb\gu_ kh[ulby qZklh g_ h[tykgyxl ih^h[gh]h gZdZeZ qm\kl\ B qblZl_evebr_g\hafh`ghklbkhi_j_`b\Zlvk ]_jh_fgZh[hjhlhlghkblkyd g_fmkd_ilbq_kdb g_l ijZ\h ^ey lZdhc [mjb wfhpbc \jh^_ b g_ [ueh ^hklZlhqguo hkgh\Zgbc FZkk_ [ulh\uo jhfZgh\h[jZs_gguod ©qm\kl\Zfªijbkmsbf_gghwlhlg_^hklZlhd\ kbemq_]hhgbklZgh\ylky k_glbf_glZevgufbb keZsZ\ufbKe_^m_laZf_lblvqlhq_f[he__\ha[m^bfuwfhpbbqblZl_ey l_f f_gvr_ hg \hkijbgbfZ_l ^Zgguc ^_n_dl l_f bkdj_gg__ hg aZo\Zq_g qm\kl\bl_evgufb dZjlbgZfblZdh]hjh^ZIhwlhfmlZdb_jhfZgub jZkkdZau]hjZa^hhohlg__qblZxlky\ xghklb hkh[_ggh \ hljhq_kl\_ q_f \ [he__ aj_ehf \hajZkl_ ;u\Z_l qlh jZkkdZa dhlhjuc kbevgh jZkljh]Ze gZk dh]^Z fu qblZeb _]h \ fheh^hklb kihkh[_g \ua\Zlv ^Z`_ jZa^jZ`_gb_ dh]^Z ijboh^blky qblZlv _]h q_j_a fgh]h e_l Kms_kl\_ggmx jhev b]jZ_l qj_af_jgZy qblZl_evkdZy qm\kl\bl_evghklv\ ^_lkdhf\hajZkl_dh]^Zj_[_ghd>hke_aaZo\Zq_gljh]Zl_evghcbklhjb_ch ^_lyo <ijhq_f \ ihke_^g_f kemqZ_ ke_^m_l mqblu\Zlv b g_^hklZlhqgmx jZa\blhklv djblbq_kdh]h ih^oh^Z d ijhqblZgghfm \ ^_lkdhf \hajZkl_ Ihjhc g_ qm\kl\Z Z fukeb ]_jhy k\yaZggu_ k kh[ulbyfb klZgh\ylky kZfh^h\e_xsbfb wlbfb fukeyfb \ujZ`Zxlky lh h[s_ijbgylu_km`^_gbylhebqgu_\a]ey^u]_jhyZ bgh]^Zb ebqgu_\a]ey^ukZfh]hibkZl_ey Ihke_^g__hkh[_gghyjdhkdZaZehkvm Lheklh]h<lhjZyqZklvwibeh]Zd jhfZgm©<hcgZb fbjª kh^_j`bl k\ur_ kljZgbp ih^h[guo jZkkm`^_gbc ibkZl_ey M Fmabey \ jZkkm`^_gbyo [md\ZevghmlhiZ_lkZfh^_ckl\b_< _]hjhfZg_©Q_eh\_d[_adZq_kl\ª^_ckl\mxsb_ebpZ\_^ml g_kdhgqZ_fu_ jZa]h\hju h \k_\hafh`guo ijh[e_fZo bgl_j_kguo iha\heyxsbo ihgylv kh[ulbylhcwihobh^gZdhg_bf_xsbojh\ghgbdZdh]hhlghr_gbyd jZa\blbxkx`_lZBgh]^Z wlh^Z`_g_jZa]h\hjuZ ebrvfukeb]eZ\gh]h]_jhyjhfZgZMevjboZfukebh fhjZebj_eb]bb k\h[h^_ ex[\b kqZklv_ wdklZa_ iheblbd_ gZpbhgZebaf_ eb[_jZebaf_ iZpbnbaf_ ij_klmie_gbb ]_gbZevghklb ^mr_\ghc [he_agb ;_amkeh\gh fh`gh ml\_j`^Zlv qlh l_ ]_jhb om^h`_kl\_gguo ijhba\_^_gbc dhlhju_ ihklhyggh b bgl_gkb\gh fukeyl hlghkylky d bgljh\_jlbjh\Zgguf ebqghklyf gh \k_ `_ ijZ\bevg__ [ueh [u hlg_klb wlm oZjZdl_jbklbdm d kZfhfmibkZl_exHgqZklh^Z`_g_klZjZ_lky\eh`blvk\hbfukeb\ mklZ]_jhyZ ij_^eZ]Z_lbo dZdk\hbkh[kl\_ggu_Ihwlhfmgb`_lZf]^_j_qv[m^_lb^lbh[bgljh\_jlbjh\Zgghklb y g_ klZgm ZgZebabjh\Zlv fmabe_\kdh]h MevjboZ y ij_^iheZ]Zx bkihevah\Zlv ^ey ZgZebaZ ebrv lZdbo ]_jh_\ dhlhju_ k\h_c bgljh\_jlbjh\Zgghklvx kms_kl\_ggh \ebyxl gZ oh^ ih\_kl\h\Zgby <h fgh]bo ebl_jZlmjguo ijhba\_^_gbyo fh`gh gZ[ex^Zlv dZd jZaebqgu_ ih\hjhlu kh[ulbc \uau\Zxl g_h`b^Zggu_ b k\h_h[jZagu_ j_Zdpbb ]_jh_\ Hgb \g_aZigh gZqbgZxl \_klb k_[y kh\_jr_ggh g_ lZd dZd fh`gh [ueh [u h`b^Zlv ih bo ij_^u^ms_fm ih\_^_gbx Ebph ihklmiZ\r__ g_ihjy^hqgh \^jm] h[gZjm`b\Z_l ^h[ju_ klhjhgu k\h_c gZlmju q_eh\_d fy]dhk_j^_qguc hdZau\Z_lky \u^_j`Zgguf kbevguf q_eh\_d ]jm[uc b [_kp_j_fhgguc ² g_`guf b \k_ wlb f_lZfhjnhau ijhbkoh^yl ihlhfm qlh lh]h lj_[mxl g_mfhebfu_ ih\hjhlu kx`_lZ GZijbf_j ]_jhb <Zevl_jZ KdhllZ ihklhyggh ij_ih^ghkyl gZf g_h`b^Zggu_ j_qb b ihklmidb LZd JZ\_gk\m^ ]eZ\guc ]_jhc ©EZff_jfmjkdhc g_\_kluª ij_bkiheg_g g_mfhebfhc ]hj^ugb b ^mfZ _l ebrv h[ h^ghf ² dZd [u khojZgblv q_klv jh^Z JZ\_gk\m^h\ b hlhfklblv aZ hlpZ H^gZdh wlh g_ f_rZ_l _fm k bgl_j_khf ke_^blv aZ hohlhc dhlhjmx mkljhbeb _]h \jZ]b gZ l_o kZfuo iheyo dhlhju_ _s_ ^h g_^Z\g_]h \j_f_gb ijbgZ^e_`Zeb _fm Klhedgm\rbkv kh k\hbf ae_crbf \jZ]hf ² ehj^hfojZgbl_e_f i_qZlb JZ\_gk\m^kfhljblgZg_]hk lZdbffjZqguf]g_\hfqlhhdjm`Zxsb_^Z`_hiZkZxlkydZd[u hgg_aZklj_ebeehj^ZGhijhoh^blg_fgh]h\j_f_gbb JZ\_gk\m^ijb]eZrZ_l ehj^Z d k_[_ \ ]hklbZ aZl_fb kZfhlijZ\ey_lkyd g_fmBgh]^Zj_adb_ih\hjhluke_^mxlm <Zevl_jZKdhllZ ^jm] aZ ^jm]hf g_h[udgh\_ggh [ukljh LZd m h^gbo b l_o `_ i_jkhgZ`_c `_klhdZy \jZ`^Z \g_aZigh i_j_oh^bl \ bkdj_ggxx ^jm`[m fm`qbgu \uo\Zlu\Zxl f_qb ba gh`_g b \ h^gh f]gh\_gb_ m[_`^Zxlky \ lhf qlh yjhklv bo [ueZ g_h[hkgh\ZggZ Hlghr_gb_ JZ\_gk\m^Z d k\h_fm\_jghfmkem]_DZe_[mlhlihklhygghijb^mfu\Z_l\kydb_g_[uebpuqlh[ukdjulvqlh _]h ]hkih^bg h[_^g_e dZdh_lh ^\hckl\_ggh_ k h^ghc klhjhgu hg \b^bl h[fZg kem]b ^Z _]h g_\hafh`gh g_ m\b^_lv k ^jm]hc klhjhgu hg iha\hey_l _fm \_kvfZ ijbfblb\guf h[jZahf \h^blv k_[y aZ ghk LZd JZ\_gk\m^ \_jbl kem]_ ml\_j`^Zxs_fm qlh jh^h\hc aZfhd JZ\_gk\m^h\ h[tyl ieZf_g_f gZ kZfhf `_ ^_e_ wlh iueZ_l dhkl_j \h ^\hj_ aZfdZ Dh]^Z JZ\_gk\m^ohq_lijb[ebablvkyd aZfdmkem]Z m^_j`b\Z_l _]hhq_j_^ghceh`vxih]j_[ZaZfdZ ydh[uaZ\Ze_guihjhohfb dZ`^mxfbgmlm\k_\hdjm]fh`_l\ahj\ZlvkyBaf_g_gby\ j_Zdpbyo ]_jh_\ m <Zevl_jZ KdhllZ fu gZ[ex ^Z_f b lZf ]^_ nZ[meZ \h\k_ g_ lj_[m_l lZdbo ikboheh]bq_kdboih\hjhlh\Qj_a\uqZcghbaf_gqb\hcgZijbf_jij_^klZ\e_gZWnnbbajhfZgZ ©W^bg[mj]kdZyl_fgbpZªKgZqZeZwlhba[Zeh\ZggZy^_\bpZdhlhjZyiha\hey_lh\eZ^_lv kh[hc ]jm[hfm b `_klhdhfm q_eh\_dm Dh]^Z __ gh\hjh`^_gguc j_[_ghd \^jm] ©bkq_aZ_lª _c jZamf__lky]jhablkf_jlgZydZagvD dZagbWnnb\uy\ey_l\_kvfZijhlb\hj_qb\h_hlghr_gb_ lhhgZmfhey_lk\hxk_kljm^Zlveh`gh_ihdZaZgb_dhlhjh_fh]eh[ukiZklbWnnbhlkf_jlb lh hgZ gZf_j_gZ klhcdh ijbgylv dZjm hldZaZ\rbkv hl ih^]hlh\e_ggh]h __ \haex[e_gguf [_]kl\Zbalxjvfu<h\j_fykm^ZhgZkgZqZeZbkiulu\Z_lhlqZygguckljZob dh]^Z\ aZe_km^Z ihy\ey_lky__k_kljZdjbqbl©H>`_ggbkiZkbkiZkbf_gyªGh^Zevr_Wnnb^_j`blk_[yk ^hklhbgkl\hf Z ihke_ h[ty\e_gby ijb]h\hjZ km^Z h kf_jlghc dZagb q_j_a ih\_r_gb_ ^Z`_ h[jZsZ_lkyd ijbky`gufaZk_^Zl_eyfk q_flh\jh^_gZklZ\e_gby©>Zijhklbl\Zk[h]]hkih^Z B g_k_j^bl_kvaZlhqlhkdZ`m\Zf\__fugm`^Z_fky\ ijhs_gbbQlhdZkZ_lkyf_gylh\ijZ\_ eby mij_dZlv\Zk"<u\ug_keblZdhcijb]h\hjdZdhckh\_klv\Zfih^kdZaZeZªQ_j_afgh]he_l fu \klj_qZ_f Wnnb k\_lkdhc ^Zfhc mlhiZxs_c \ jhkdhrb G_ihke_^h\Zl_e_g b h[jZa kh[eZagbl_eyWnnbij_keh\mlh]h[Zg^blZb m[bcpuJh[_jlkhgZHgkeu\_lgZj_^dhklveh\dbf `mebdhfghlZdg_e_ih\_^_lk_[y\h\j_fyjh`^_gbyj_[_gdZqlhgh\hjh`^_ggh]hihobsZxlm g_]hbaih^ghkZohlyhgb ^Zekeh\h©\k_mkljhblvªIhke_kf_jlgh]hijb]h\hjZ\ug_k_ggh]h Wnnb Jh[_jlkhg ]hlh\ ih`_jl\h\Zlv `bagvx qlh[u ^h[blvky _c ihfbeh\Zgby H^gZdh ijbghkbfZy \ `_jl\m `bagv ² wlh `bagv ij_klmigbdZ aZ ihbfdm dhlhjh]h gZagZq_gh \hagZ]jZ`^_gb_ ©Ih`_jl\h\Zlv `bagvxª Jh[_jlkhgm f_rZ_l iZ^_gb_ k ehrZ^b gh ih \k_c \b^bfhklbljZ\fZgh]bg_klhevm`k_jv_agZlZddZd\h\j_fyjZa]h\hjZijhbkoh^ys_]h\ lhl `_ ^_gv k _]h hlphf hg `b\h \kdZdb\Z_l k ihkl_eb DZaZehkv [u qlh g_\hafh`ghklv kiZklb Wnnb hl kljZrghc kf_jlb ^he`gZ [ueZ [u ihljyklb __ \haex[e_ggh]h h^gZdh hg \hh[s_ g_ aZ\h^bl h[ wlhf j_qb ohly ijb jZa]h\hj_ ijbkmlkl\m_l __ k_kljZ <f_klh wlh]h hg gZqbgZ_l ijhkljZggh jZkkdZau\Zlv h k\h_c `bagb h lhf dZd hg ^hdZlbeky ^h [Zg^blbafZ Wlh k\b^_l_evkl\m_lh iheghc[_kqm\kl\_gghklbJh[_jlkhgZdhlhjuc^he`_g[ue[ubkiulu\Zlvb `Zehklv d Wnnb b ]hjvdh_ jZkdZygb_ aZ ijbqbg_ggu_ _c kljZ^Zgby Iha^g__ ijhbkoh^bl fhjZevgh_ i_j_jh`^_gb_ Jh[_jlkhgZ ihke_ dhlhjh]h hg klZgh\blky kwjhf >`hj^`_f KlZmglhghf <ijhq_f ih kemoZf hg klZ\ iwjhf :g]ebb ihij_`g_fm \_kvfZ ]jm[ `_gZ ^jh`blijbh^ghf_]h\a]ey^_Gh\hlhgihk_sZ_lW^bg[mj]]^_[ueh\ k\h_\j_fykh\_jr_gh kZfh_ly`dh__]hij_klmie_gb_<g_aZighhgijboh^bl\ m`Zkhlk\hboij_`gbo^_ygbchl\b^Z lxjvfu dhlhjmx g_dh]^Z oeZ^ghdjh\gh rlmjfh\Ze <h \j_fy ihk_s_gby lxjvfu hg bkiulu\Z_l ijbklmi hkljhc keZ[hklb ]heh\hdjm`_gb_ Kimlgbdb \ugm`^_gu hl\_klb _]h \ khk_^gbc ^hf qlh[u hg ijbr_e \ k_[y b mkihdhbeky GZ h[jZlghf imlb hg g_kdhevdh jZa \ha\jZsZ_lky fukeyfb d \bablm \ W^bg[mj] b \kydbc jZa ihqlb l_jy_l khagZgb_ lZd qlh ijboh^blky ^_eZlv \ imlb h^gm hklZgh\dm aZ ^jm]hc Hl_p Wnnb >_\bk >bg_ j_eb]bhaguc k_dlZglg_ihdhe_[bfhij_^Zgk\h_ck_dl_?]hhlghr_gb_d Wnnb^\hckl\_gghhghdhe_[e_lky f_`^mbkdj_ggbfkhqm\kl\b_fb j_adbfhkm`^_gb_f Mihfyg_f lZd`_ Ewj^Z >Zf[_^ZcdZ \ex[e_ggh]h \ >`_ggb BaaZ [_kihfhsghklb b jh[hklbhggbdZdg_fh`_lijbagZlvky_c\ ex[\bohlyb g_kimkdZ_lk g__\ex[e_gguo]eZa Wlh ih\lhjyehkv bah ^gy \ ^_gv ba ]h^Z \ ]h^ gh kf_ehklb h[tykgblvky hg lZd b g_ h[j_e gbdh]^Z <h \k_f hklZevghf hg lZd`_ g_eh\hd b g_e_i >`_ggb ijh k_[y gZau\Z_l _]h ©[he\Zghfª H^gZdh wlhl aZkl_gqb\uc b ^Z`_ g_ kh\k_f dZd [m^lh mfkl\_ggh iheghp_gguc q_eh\_dh^gh\j_f_gghij_\hkoh^ghgZeZ^beohayckl\h\ k\h_fbf_gbbb mfm^jbekykdhehlblv ijbebqgh_ khklhygb_ <k_ wlh ]h\hjblky ^ey lh]h qlh[u ihdZaZlv dZd k\h[h^gh bgh]^Z h[jZsZxlky ibkZl_eb k lZdbf ihgylb_f dZd p_evghklv ebqghklb LZdhc g_^hklZlhd fu gZ[ex^Z_f ^Z`_ m fZkl_jZ hibkZgby Zdp_glmbjh\Zgguo ebqghkl_c B_j_fbb =hlo_evnZ Ijbf_jhf fh`_l kem`blv h[jZa ^y^xrdb =Zgaeb ba _]h jhfZgZ ©=Zgk Ch]]_eb dmf k gZke_^kl\hfª d dhlhjhfm fu _s_ \_jg_fky >y^xrdZ =Zgaeb wlhl ]jm[uc g_ \eZ^_xsbc kh[hc]hjeZg\^jm]ij_^klZ_li_j_^gZfb\ ebqbg_ebp_f_jgh]hevkl_pZk ;jZl_p=Zgaebwlhl[Zjbgk gh]^h]heh\u]jm[ucb h]jZgbq_ggucghmf_eucgZ]eucb obljuc lZf ]^_ j_qv reZ h djmiguo ^_g_`guo dmrZo ijb[eb`Zeky d mkZ^v[_ k ebphf ^urZsbfaeh[hcdZdm kZfh]h^vy\heZLy`_ehlhiZyhggZijZ\bekyd dhgxrgyf]^_ijbdZaZe g_f_^e_ggh aZdeZ^u\Zlv ehrZ^_c b ijb wlhf k[jmx \aylv gZjy^gmx AZl_f hg k ]jhohlhf ijhke_^h\Ze \ ^hf ]^_ ko\Zlbe dgml b \u_a^ghc dZnlZg Ih]hgyy ehrZ^_c hg klZe \^jm] mkbe_ggh^mfZlvqlhkemqZehkvk gbfg_qZklh>_eh\ lhfqlh_fmijbreh\ ]heh\m²jZgvr_ hggZ^wlbfdZdlhg_aZ^mfu\Zeky²qlh\_^vhgg_`_gZlZ ;_[_ebg_aZfm`_fb qlh;_[_eb klZeZ l_i_jv [h]Zlhc gZke_^gbp_c b qlh _keb m` k aZ\_sZgb_f gbq_]h k^_eZlv g_ m^Z_lky lh aZlh [ulv fh`_l ^_eh \u]hjbl k kZfhc ^_\mrdhc B \ dhgp_ dhgph\ g_ \k_ eb jZ\gh dZdbf iml_febrv[uijbclb\ blh]_d bf_gbxG_^e_[h^_gG_^e_[h^_g²^Z^Z\hlqlh]eZ\gh_B \^jm]^y^xrdZ=Zgaeb\_kv\u\_jgmekydZdi_jqZldZk ba\_klghcwe_]Zglghklvxhldjue^\_jv\ ]hklbgmx]^_hggZ^_yekym\b^_lv;_[_ebb \kZfhf^_e_m\b^_e__B k[_kklu^kl\hfq_eh\_dZ ^eydhlhjh]hg_kms_kl\m_llhh q_fhgkZf`_aZy\eye\k_]hg_kdhevdhqZkh\lhfmgZaZ^hg ih^hr_e d g_c ijhlygme jmdm b hl \k_c ^mrb ih`_eZe _c kqZklvy Lml `_ hg \klZ\be qlh kqblZ_l__ ^hklhcghcgZke_^gbp_cb qlhihdhcguc[jZl_pm`lhqghagZe\ qvbjmdbhl^Z_lk\h_ ^h[jhZ ;_[_ebdhg_qghaZkem`beZg_`^Zggh_k\h_kqZklv_l_ji_gb_fb djhlhklvx LZd=Zgaebhlghkblkyl_i_jvd ^_\mrd_dhlhjmxhgjZgvr_ihghkbeihke_^gbfbkeh\Zfb B l_dml keZ^db_ j_qb dhlhjufbhggZ^__lky aZ\h_\Zlv jZkiheh`_gb_ ;_[_eb Qlh ` ihgylgh qlh q_eh\_d klZjZ_lky aZ]eZ^blv \i_qZle_gb_ \ua\Zggh_ _]h ]jm[uf ih\_^_gb_f Ij_^klZ\ \ g_\u]h^ghf k\_l_ hg bah \k_o kbe iulZ_lky kfy]qblv kblmZpbx b ^ey wlh]h \gmlj_gg_ i_j_kljZb\Z_lky H^gZdh wibe_ilhb^guc ikbohiZl g_ fh`_l \g_aZigh klZlv ikbohiZlhf bkl_jbq_kdbf ^Z`_ _keb wlh]h lj_[mxl khh[jZ`_gby ebqghc \u]h^u G_ fh`_l hg \^jm] h[gZjm`blvg_aZmjy^gu_Zdl_jkdb_kihkh[ghklbg_^Zgh_fm©\u\_jgmlvkydZdi_jqZldZªGh fh`_l[ulvm gZk_klvhkgh\Zgbymkfhlj_lvm =Zgaebh[_mihfygmlu_q_jluebqghklb"G_lb lZdh_ ij_^iheh`_gb_ g_ j_rZ_l ijh[e_fu l_ \ha[m^bfu_ ebqghklb dhlhju_ h^gh\j_f_ggh y\eyxlky^_fhgkljZlb\gufb\k_`_hklZxlkyly`_eh\_kgufbb ijhy\eyxl^Z`_\ bkl_jbq_kdbo j_Zdpbyo ba\_klgmx ]jm[h\Zlhklv Wlb ex^b fh]ml ijb `_eZgbb ihdZaZlv k_[y b ^h[jh^mrgufbb aZkem`b\Zxsbfb^h\_jbyghgbdh]^Zg_jZau]jZxljhevevkl_pZlZdlhgdhk lZdbffZkl_jkl\hfk lZdbfbays_kl\hfdZdwlhhibkZghm =hlo_evnZQ_eh\_dg_fh`_l\k_]^Z [ulvh^bgZdh\ufH^gZdh\ hkgh\_g_dhcijbgpbibZevghci_j_kljhcdbih\_^_gby\k_]^Ze_`Zl ]em[hdb_ ijbqbgu J_qv gZijbf_j fh`_l b^lb h ikbobq_kdhf jZa\blbb dhlhjh_ \ua\Zgh l_q_gb_f \g_rgbo kh[ulbc LZdh_ jZa\blb_ ^ey ikbobZljZ ij_^klZ\ey_l hkh[uc bgl_j_k Gh gZijbf_j\ ©Lbfhg_:nbgkdhfªR_dkibjZfug_fh`_f]h\hjblvh jZa\blbbebqghklbZ ebrv h __gZ^ehf_dhlhjuck ikboheh]bq_kdhclhqdbaj_gbyg_ihgyl_g<gZqZe_LbfhgdZ`_lkygZf q_eh\_dhfs_^j__b ^h[jhk_j^_qg__dhlhjh]hljm^ghk_[_ij_^klZ\blvM g_]hihklhygghihehg ^hf ]hkl_c hg ]hlh\ h^Zjblv \kydh]h dlh h[ wlhf ihijhkbl IhemqZy ih^Zjhd hg \ha^Z_l ih^Zjb\r_fm klhjbp_c LZd ihkl_i_ggh hg jZkljZqb\Z_l h]jhfgh_ khklhygb_ >jmavy ij_`^_ m\b\Z\rb_ky \hdjm] g_]h ihdb^Zxl h[_^g_\r_]h ih]jyar_]h \ ^he]Zo LbfhgZ b gbdlh g_ ohq_lh^he`blv_fmgb ]jhrZIhgylghqlhlZdZyg_[eZ]h^Zjghklv\hafmsZ_l^h]em[bgu^mrb ghh[t_dlb\ghg_fukebfhqlh[uklhev\_ebdh^mrgucq_eh\_ddZdLbfhgklZe[ug_bklh\uf debdmr_cij_abjZxsbfg_lhevdhnZevrb\uo^jma_cghb \k_oZnbgygihkueZygZbo]heh\u kljZrgu_ijhdeylvyk < ihke_^gbcjZa\a]eygmgZ]hjh^k\hc Kl_gZjZalu\hedZfh]jZ^hckem`brv JZkkuivkyb g_aZsbsZc:nbg FZljhguklZgvl_rexoZfb\u^_lb Ihql_gb_d jh^bl_eyfaZ[m^vl_ JZ[ub ^mjZdbk ihklh\k\_j]Zcl_ K_gZlhjh\fhjsbgbkluob \Z`guo B ijbgbfZcl_kvijZ\blv\f_klhgbo P\_lmsZyg_\bgghklvhdmgbkv < ]jyavb jZa\jZljZkimlgbp_c[_kklu^gh < ijbkmlkl\bbhlph\b fZl_j_c ;Zgdjhl^_j`bkvg_\ha\jZsZc^he]h\ O\ZlZck\hcgh`²j_`v]ehldmdj_^blhjm Kem]ZgZ^_`guc]jZ[vk\hbo]hkih^ Ohaybgl\hcgZ^_`guc²lh`_\hj Ghihdjmig_cb ]jZ[blihaZdhgm Eh`bkv\ ihkl_evd ohaybgmkem`ZgdZ ?]h`_gZjZkimlgbqZlvihreZ Lukugex[bfuc\uj\bm hlpZ M\_qgh]hb ^jyoeh]hdhkluev B ]heh\m_fmjZa[_c LZdh_ dhj_ggh_ baf_g_gb_ ebqghklb dhg_qgh g_evay h[tykgblv ij_\jZlghklyfb km^v[u dhlhju_ ijbrehkv bkiulZlv Lbfhgm Ijbqbghc fh]eh [ulv lhevdh ^mr_\gh_ aZ[he_\Zgb_ : fh`_l[ulvR_dkibjohl_ekha^Zlvh[jZa^mr_\gh[hevgh]hq_eh\_dZg_ajynbehkhn:i_fZgl dhlhjuckm^yih_]hj_iebdZfkZfg_kh\k_fmfkl\_ggha^hjh\]h\hjblLbfhgm©>Zlu]eZ\Z \k_o ^mjZdh\ gZ k\_l_ª K \_kvfZ oZjZdl_jghc dZjlbghc iZjZghbq_kdh]h jZa\blby ebqghklb ]_jh_\fu\klj_qZ_fky\ ©Hl_eehªR_dkibjZZ lZd`_\ ih\_klbDe_cklZ©FboZwevDhevoZZkªD wlhfm \hijhkm fu _s_ \_jg_fky A^_kv \djZlp_ hklZgh\bfky gZ ^\mo i_jkhgZ`Zo ba ih\_klb ©>_gv]b b ^mrZª =hlo_evnZ dhlhju_ y\eyxlky ijbf_jhf jZa\b lby gh ]h\hjblv a^_kv h iZjZghbq_kdhf kbg^jhf_ g_l gbdZdbo hk gh\Zgbc >\h_ kmijm]h\ ihke_ jy^Z fZl_jbZevguo ihl_jvb \k_\hafh`guojZagh]eZkbcgZqbgZxl\k_[hevr_qm`^Zlvky^jm]^jm]Z>hwlh]hhgb \_eb ^h\hevgh fbjgmx kh\f_klgmx `bagv l_i_jv `_ ba\h^yl ^jm] ^jm]Z y\gufb b kdjulufb mij_dZfb aZ l_f h[Z gZqbgZxl jZkdZb\Zlvky ^h\h^y lZdbf h[jZahf ^jm] ^jm]Z ^h khklhygby Znn_dlZ <aZbfgZy \jZ`^Z dhlhjZy ebrv dh_dZd ijbdjulZ \g_rg_ \k_ gZjZklZ_l LZdh_ jZa\blb_ fh`gh kjZ\gblv k jZkijhkljZg_gguf [ulh\uf y\e_gb_f k lZd gZau\Z_fuf dhfie_dkhf l_sb ijb dhlhjhf aZ gZqZevguf wlZihf ^h\hevgh fbjgh]h khkms_kl\h\Zgby ke_^m_l gZjZklZxsZy \jZ`^_[ghklv klh jhg :nn_dl \hagbdZ_l \ kbem lh]h qlh ih\k_^g_\gu_ jZagh]eZkby dhlhju_ qZs_ \k_]h k\yaZgu k \f_rZl_evkl\hf l_sb \ ^_eZ fheh^uo kmijm]h\ ihkl_i_ggh i_j_oh^yl \h \jZ`^_[gu_ hlghr_gby \ dhlhjuo h[_ klhjhgu ihhq_j_^gh lh ih[_`^Zxllhl_jiylihjZ`_gb_Wlb©dhe_[ZgbyfZylgbdZª\_^mld ihkl_i_gghfmgZjZklZgbx Znn_dlZ\ dhg_qghfblh]_ihy\ey_lky]em[hdZy g_gZ \bklv Q_eh\_dgZkljh_gguc \ h[s_flh fbjgh fh`_l klZlv \hbgkl\mxsbf kihjsbdhf JZa\blb_ g_ bf__l f_klZ \ l_o kemqZyo dh]^Z ijb jZagh]eZkbyo h^gZ ba klhjhg iheghklvx ^hfbgbjm_l lZd qlh [hjv[Z dZd lZdh\Zy \hh[s_ g_fukebfZ M klhjhgu m]g_lZ_fhc ² g_aZ\bkbfh hl lh]h [m^_l eb wlh l_sZ beb g_\_kldZ ² kihjg_ihjh`^Z_lkblmZpbbZnn_dlZ^Z`__kebwlZklhjhgZbkiulu\Z_lgZklhysb_kljZ^Zgby Lhqlh\ ikbobZljbbgZau\ZxliZlheh]bq_kdbfjZa\blb_f\k_]^Z\hagbdZ_lgZihq\_©wnn_dlZ jZkdZqb\Zgbyª<ijhq_fjZa\blb_\ rbjhdhfkfuke_keh\Zfh`ghmkfZljb\Zlv\ l_okemqZyo dh]^Zq_eh\_d\k_[hevr_ijbkihkZ[eb\Z_lkyd \g_rgbf\ha^_ckl\byfgZijbf_j\ aZ\bkbfhf iheh`_gbb klZgh\blky \k_ [he__ jh[dbf beb gZh[hjhl ^h[b\rbkv [hevrhc \eZklb ^_eZ_lky gZ^f_gghg_ijbklmiguf Dh]^Z ih oh^m ih\_kl\h\Zgby \ ih\_^_gbb ]_jhy gZ[ex^Zxlky ijbgpbibZevgu_ baf_g_gby fu \iZ^Z_f \ kh[eZag mkfhlj_lv gZebqb_ jZa\blby \ madhf beb rbjhdhf kfuke_ keh\Z gh \^m fZ\rbkv ]em[`_ m[_`^Z_fky qlh hkgh\Zgby ^ey wlh]h hlkmlkl\mxl GZijbf_j h[jZa GZgZ ba h^ghbf_ggh]h jhfZgZ Ahey <gZqZe_ m gZk kha^Z_lky \i_qZle_gb_qlhGZgZ²iZ^rZy`_gsbgZdhlhjZyih^\ebygb_fjZa\blby\_^_lk_[y\k_[he__ g_h[ma^ZgghjZkimlgh H^gZdh ijbkfhlj_\rbkv \gbfZl_evg__ fu m[_`^Z_fky qlh f_`^m jZaebqgufbklZ^byfb__ ih\_^_gbyg_lk\yamxsboikboheh]bq_kdbofhklbdh\GZqbgZ_lky\k_ k lh]h qlh GZgZ ² ZdljbkZ b ZdljbkZ [_a^ZjgZy GZ im[ebdm hgZ \ha^_ckl\m_l ij_bfms_kl\_ggh k\h_c gZ]hlhc HgZ klZgh\blky ex[h\gbp_c djmigh]h [ZgdbjZ hg ^Zjbl _c hkh[gyd k jhkdhrguf kZ^hf GZgZ ijboh^bl \ \hklhj] hl k\Zeb\r_]hky gZ g__ [h]Zlkl\Z k [eZ]h]h\_gb_f`_gsbgu©bagbah\ªhgZ\abjZ_lgZklZjmx]_jph]bgx`b\msmxihkhk_^kl\m <kdhj_ hgZ agZdhfblky k k_fgZ^pZlbe_lgbf xghr_c \ dhlhjhf ijbgbfZ_l [ebadh_ mqZklb_ \gZqZe_ km]m[h fZl_jbgkdh_ aZl_f f_`^m gbfb \hagbdZ_l k_dkmZevgZy k\yav H^gh \j_fy hgZ `b\_l \ djhr_qghc d\Zjlbjd_ \f_kl_ k dZdbflhgh\uf ^jm]hf lhl ihkl_i_ggh klZgh\blky __ kml_g_jhfHgZ[h]hl\hjbl_]h[_ajhihlghkghkbl[jZgvb ex[u_ba^_\Zl_evkl\Zihke_ih[h_\ ex[bl©^jm]Zª_s_kbevg__< wlhfi_jbh^_`bagbGZgZy\ey_lkyijhklblmldhckZfh]hgbadh]h ihrb[Z ba l_o qlh klhyl gZ m]em b aZau\Zxl fm`qbg F_`^m ijhqbf hgZ ihiZ^Z_l b \ djm] ]hfhk_dkmZebklh\Ijhoh^blg_fgh]h\j_f_gb²b \hlfum`_\b^bfGZgZex[h\gbp_c]jZnZ FxnnZ HgZ `b\_l \ \_ebdhe_ighf ^\hjp_ k fZkkhc kem] k kh[kl\_gguf \u_a^hf < [e_kd_ hdjm`Zxs_]h__ [h]Zlkl\ZGZgZklZgh\blkygZg_dhlhjh_\j_fy\eZklbl_evgbp_c^mfk\_lkdh]h IZjb`Z?kebjZgvr_\ g_c[uehohlvdZdh_lh^h[jh^mrb_bkdj_gghklvlhl_i_jvhgZ\_^_l k_[ydjZcg_[_kp_j_fhgghgbk d_fb gbk q_fg_kqblZykvHgZbaf_gy_l]jZnmkhfgh`_kl\hf ^jm]bofm`qbgaZklZ\eyy_]hfbjblvkyk wlbfHgZdZd\Zfibj\ukZku\Z_l^_gv]bbaFxnnZ Z ihimlgh b ba ^jm]bo fm`qbg L_ `_ m dhlhjuo ^_gv]b dhgqbebkv ih^e_`Zl ba]gZgbx G_kfhljygZ[_r_gu_^hoh^uGZgZ\k_]^Z\ ^he]Zo_cgm`gh\k_qlhfh`_lk^_eZlv__ [e_kd _s_ [he__ yjdbf H^gh \j_fy GZgZ gZoh^blky \ \boj_ ]_l_jhk_dkmZevguo b ]hfhk_dkmZevguo kljZkl_c < dhgp_ dhgph\ hgZ klZgh\blky [_kqm\kl\_gghc b [_kihsZ^ghc nmjb_c dhlhjZy h[jZsZ_lky k fm`qbgZfb dZd k jZ[Zfb k kh[ZdZfb ba[b\Zy bo ihibjZy gh]Zfb b [_kklu^g_crbfh[jZahfaZklZ\eyybohl^Z\Zlv_cihke_^gbc]jhrG_kdhevdhq_eh\_dbaaZg__ jZahj_guh^bg ihiZ^Z_l \ lxjvfm qlh[u m^h\e_l\hjblv __ ijbohlb hg ijbk\hbe [Zgdh\kdb_ \deZ^uK_fgZ^pZlbe_lgbcxghrZbaj_\ghklbaZdZeu\Z_lkygh`hfgZ__ ]eZaZoIh^dhg_phgZ gZg_dhlhjh_\j_fyklZgh\blkykh^_j`Zgdhcjmkkdh]hdgyay<_jgm\rbkv\ IZjb`hgZih]b[Z_l hl hkiu Ljm^gh [ueh [u mkfhlj_lv \h \k_o wlbo ebqbgZo \ dhlhjuo Ahey aZklZ\ey_l ijhclb i_j_^gZfbk\hx]_jhbgxp_evgmxkljmdlmjmebqghklbw\hexpbydhlhjhcij_^klZ\ey_lkh[hc ikboheh]bq_kdbih^dj_ie_ggh_jZa\blb_<ijhq_fAheyb g_klZ\bli_j_^kh[hcp_evihdZaZlv imlvlZdhcebqghklbhgbah[j_lZ_lGZgZlZdhcdZdhchgZih_]haZfukem^he`gZij_^klZ\Zlv \ jZaebqguoklZ^byok\h_c[bh]jZnbb>jm]b_i_jkhgZ`bjhfZgZg_klhevbaf_gqb\u dZd_]h ]eZ\gZy ]_jhbgy gh hgb b g_ ijhy\eyxl gbdZdbo bg^b\b^mZevguo j_ Zdpbc Hgb ih`Zemc fh]ml[ulvijbf_jhflh]hdZdqZklh\ om^h`_kl\_gghcebl_jZlmj_©km^v[Zb]jZ_lq_eh\_dhfª kZf `_ hg hklZ_lky bg_jlguf \ __ ©eZiZoª Ahey aZ^mfZe ijhbeexkljbjh\Zlv k\hbf jhfZghf hij_^_e_ggucikboheh]bq_kdbcl_abk_kebk_dkmZevgu_ihlj_[ghklb\ q_eh\_d_jZa\b\Zxlky^h iZlheh]bq_kdhckl_i_gblhhgbkihkh[gukehfblvex[u_khpbZevgu_b ebqgu_ij_]jZ^u<k_ ex^bihdhj_ggu_wjhlbqghklvxGZgZy\eyxlky ebrv iZkkb\gufb `_jl\Zfb __ kljZklb Ahey g_^hmq_e gZ fhc \a]ey^ qlh jZaebqgu_ bg^b\b^u ^Z`_ ho\Zq_ggu_ \e_q_gb_f h^bgZdh\hc kbeu \k_ `_ ihjZaghfm ih^^Zxlky beb \klmiZxl k gbf \ [hjv[m ihjZaghfm j_Z]bjmxl gZ ]jhaysmxbfhiZkghklvM Ahey`_\k_ex[h\gbdbGZgZihdhjyxlky_c[_ah]h\hjhqgh\g_rgb_ ijhy\e_gbym]g_l_gbyhdZau\Zxlky h^bgZdh\ufb Dhgnebdl f_`^m ebqghklvx b \e_q_gb_f m [hevrbgkl\Z fm`qbg \hh[s_ g_ \hagbdZ_l IjZ\^Z \ ^mr_ ]jZnZ FxnnZ fu gZ[ex^Z_f \gmlj_ggxx [hjv[m gh hgZ k\yaZgZ g_ k hkh[_gghklyfb _]h ebqghklb Z k _]h j_eb]bhagufb m[_`^_gbyfb DZd aZf_lgh kljZ^Z_l ikboheh]bq_kdZy m[_^bl_evghklv om^h`_kl\_ggh]h ijhba\_^_gby dh]^Z jZa\blb_ i_jkhgZ`_c ebrv dZ`ms__ky b g_ dhj_gblky \ p_evghklb ebqghklb y ohl_e [u ih dZaZlv gZ ijbf_j_ jhfZgZ dhlhjuc ih^l\_j`^Z_l wlm fukev ]hjZa^h m[_^bl_evg__ q_f ©GZgZª Ahey Y bf_x \ \b^m h^bg ba jhfZgh\ ;ZevaZdZ ;ZevaZdZ qZklh ijbqbkeyxl d jhfZgbklZfikboheh]Zf ^Z hg \hafh`gh b ohjhrbc ikboheh] ihkdhevdm ohjhrh ihgbfZ_l ex^_c b kihkh[_g [e_klys_ hibkZlv hl^_evgu_ bo oZjZdl_jheh]bq_kdb_ q_jlu H^gZdh h[jZau _]h g_ h[eZ^Zxl p_evghklvx ebqghklb ]_jh_\ hlebqZ_l qbklZy kf_gZ j_Zdpbc J_Zdpbb `_ ij_^klZ\e_gu lZdbfb dZdbfb gm`gu Z\lhjm ^ey hkms_kl\e_gby _]h kx`_lgh]h aZfukeZ ^ey lh]h qlh[u ihfhqv kha^Zgbx ijb^mfZgguo bf yjdbo kblmZpbc Z g_ ]em[hdhfm ihdZam ikboheh]bb Kh[kl\_ggh Z\lhjZ fZeh ljh]Z_l gZkdhevdh ihklmidb ]_jh_\ hijZ\^ZgudZdhgbkh]eZkmxlkyk boij_^r_kl\mxsbfbj_ZdpbyfbIjhZgZebabjm_f^_lZevgh h^gh ba kZfuo agZf_gbluo ijhba\_^_gbc ;ZevaZdZ jhfZg ©Ljb^pZlbe_lgyy `_gsbgZª @xeb ]eZ\gZy ]_jhbgy jhfZgZ ² ^_\mrdZ hq_gv `bag_jZ^hklgZy ^Z`_ \ ^_gv k\h_c k\Z^v[u hgZ rZeblgZijhiZemx< kp_g_dhlhjmxy bf_x\ \b^m;ZevaZdg_khfg_gghohq_lih^q_jdgmlv\k_ _s_k\hckl\_ggmx_]h]_jhbg_^_lkdmxj_a\hklvH^gZdhljm^ghk_[_ij_^klZ\blvqlh[u^Z`_ kh\k_f xgZy ^_\mrdZ ihemj_[_ghd \uoh^y aZfm` \ ^_gv k\Z^v[u fh]eZ ^himkdZlv lZdb_ g_e_ihklb dZd @xeb JZa\_ qlh \ kljmdlmj_ __ ebqghklb kh^_j`blky we_f_gl \_k_ehklb g_ kh\k_fghjfZevghc ² Hl_p g_ jZa iulZeky ihm[Z\blv fhx \_k_ehklv ihlhfm qlh y kebrdhf m` [mjgh \ujZ`ZeZ k\hx jZ^hklv Z wlh kqblZ_lky g_ih^h[Zxsbf b fhx [helh\gx bklhedh\u\Zeb \ ^mjgmxklhjhgmbf_gghhllh]hqlh\ g_cg_[uehgbq_]h^mjgh]hQ_]hlhevdhg_\ul\hjyeZy k ih^\_g_qghc nZlhc k ieZlv_f b p\_lZfb <_q_jhf f_gy lhj`_kl\_ggh ih\_eb \ kiZevgx b hklZ\beb h^gm Z y klZeZ ijb^mfu\Zlv dZd [u fg_ dh \k_fm _s_ ihkf_rblv b ih^jZagblv <bdlhjZ Q_j_a]h^ihke_k\Z^v[u@xebklZgh\blkykh\k_f^jm]bfq_eh\_dhfHgZ\hkdebpZ_l² Qm\kl\ZfhbaZkluebfukebf_jl\u`bagv klZeZ g_\ughkbfh ly`_eZ >mrm gZihegy_l kljZo hg aZfhjZ`b\Z_l qm\kl\Z iZjZebam_l \hex G_l m f_gy ]hehkZ qlh[u ih`Zeh\Zlvky g_l keh\ qlh[u\ujZablvfhbfmq_gvy Dh]^Z@xebiulZ_lkyi_j_^Zlvk\hbkljZ^Zgby\ ibkvf_d ih^jm]_ ©]heh\Z __ iZ^Z_l gZ ]jm^v dZd m mfbjZxs_cª ?_ l_ldZ dhlhjhc hgZ ih\_jy_l k\hb lZcgu_ fmdb ]h\hjbl _c ©;_^gh_ ^bly [jZd [ue ^ey l_[y p_ivx g_ij_ju\guo kljZ^Zgbcª QblZl_ex ohq_lky magZlv qlh `_ ijhbahreh k fheh^_gvdhc `_gsbghc aZ ]h^ [jZdZ b \gh\v _fm ijboh^bl gZ ihfhsv l_ldZ ²Dhjhq_Zg]_efhcluh[h`Z_rvk\h_]h<bdlhjZghluij_^ihqeZ[u[ulv_]hk_kljhc Z g_`_ghc[jZd^eyl_[yhdZaZekykiehrgufjZahqZjh\Zgb_f Fh`ghij_^iheh`blvqlh<bdlhj\ k_dkmZevghfhlghr_gbbihdZaZek_[y]jm[ufihreuf jZa\jZlgbdhfghwlh_^\Zeb\hafh`ghlZddZdhgex[blk\hx@xeb©^h[_amfbyªHq_\b^gh ijbqbgZdjh_lky\ q_flhbghf<bdlhjg_m^h\e_l\hjy_l@xebdZdq_eh\_d?s_^h[jZdZhl_p lZdoZjZdl_jbah\Ze_]h ² <bdlhjZ y agZx hg \_k_e gh g_ hkljhmf_g \_k_e ihdZaZjf_gghfm hg [_a^Zj_g b jZklhqbl_e_gWlhh^bgbal_oex^_cdhlhjuog_[hkhl\hjbeh^eylh]hqlh[uhgbq_luj_jZaZ\ ^_gv iehlgh _eb b i_j_\Zjb\Zeb ibsm kiZeb ex[beb i_j\mx ihiZ\rmxky djZkhldm b kjZ`Zebkv @bagb hg g_ ihgbfZ_l Ih ^h[jhl_ k_j^_qghc ² Z k_j^p_ m g_]h ^h[jh_ ² hg ih`Zemchl^Zklk\hcdhr_e_ddZdhfmgb[m^v[_^gydmbebijbyl_exghhg[_ki_q_gm g_]hg_l lhc qmldhklb dhlhjZy ^_eZ_l gZk jZ[Zfb kqZklvy ex[bfhc `_gsbgu gh hg g_\_`^Z k_[yex[_p L_i_jv fu fh`_f ihgylv qlh @xeb [ueZ `_klhdh jZahqZjh\ZgZ gh b wlh hiylvlZdb kljZggh ² \_^v hgZ ex[beZ bf_ggh lhl qbklh \g_rgbc [e_kd dhlhjuc [ue oZjZdl_j_g ^ey <bdlhjZ <hafh`gh hgZ ihl_jyeZ \dmk d wlhfm [e_kdm" Gh lh]^Z \b^bfh \k_ __ j_Zdpbb dhj_gguf h[jZahf baf_gbebkv ² \_^v hgZ ly`dh kljZ^Z_l baaZ gZebqby lh]h qlh jZgvr_ _c lZdgjZ\behkvH^gZdhi_qZev@xebghkysZyg_kdhevdh[he_ag_ggucoZjZdl_j[ueZg_^he]hc MagZ\qlhfm`_cbaf_gy_lhgZhiylvklZgh\blkykh\_jr_ggh^jm]bfgh\ufq_eh\_dhf B hgZ j_rbeZ [hjhlvky k khi_jgbp_c h[hevklblv <bdlhjZ \gh\v ihy\eylvky \ k\_l_ [ebklZlvlZfijbl\hjylvkyqlhij_bkiheg_gZex[\bd fm`mex[\bdhlhjhchgZm`_g_fh]eZ qm\kl\h\ZlvaZl_fimklb\\ oh^\k_\hafh`gu_meh\dbdhd_lkl\Zb ih^qbgb\fm`Zk\h_c\he_ \_jl_lv bf dZd ^_eZxl wlh \a[Zefhrgu_ `_gsbgu dhlhjuf ijbylgh fmqblv k\hbo ex[h\gbdh\ HgZ \^jm] ihklb]eZ qlh lZdh_ \_jhehfkl\h e`b\hklv `_gsbg g_ \_^Zxsbo ex[\bihklb]eZdZdh[fZgqb\hb dZdqm^h\bsghbodh\Zjkl\hdhlhjh_ihjh`^Z_lm fm`qbgu ]em[hdmxg_gZ\bklvd `_gsbg_b \gmrZ_l_fmfukevqlhhgZihjhqgZhljh`^_gby Ih ;ZevaZdm \iZ\r_c \ ]em[hdmx f_eZgohebx `_gsbg_ ^hklZlhqgh ijbgylv ih^h[gh_ j_r_gb_qlh[uij_\jZlblvky\ dhd_leb\mxk\_lkdmxev\bpm<g_aZighklvlZdh]hij_\jZs_gby ki_pbZevghih^q_jdb\Z_lky;ZevaZdhfAZl_y@xebm\_gqZeZkvihegufmki_ohf HgZ keh\gh \g_aZigh h\eZ^_eZ \k_fb ihrehklyfb dhlhju_ ijbf_gyxl kms_kl\Z g_kihkh[gu_ ex[blv lml b dhd_leb\hlhfgZy ihdhjghklv b h[fZg b ijbl\hjkl\h keh\hf p_eZy kbkl_fZ hl\jZlbl_evguo ijb_fh\ dhlhjufb ^hklb]Z_lky ebrv g_gZ\bklv fm`qbg d ih^h[guf`_gsbgZfb \hafms_gb_lZdhc\jh`^_gghcdZdhgbkqblZxlihjhqghklvx < ]hklbguogZiheg_gguobaukdZggufbb djZkb\ufb^ZfZfb@xebh^_j`ZeZih[_^mgZ^ ]jZnbg_cHgZ[ueZhkljhmfgZh`b\e_gZ\_k_eZb \hdjm]g__kh[jZeky\_kvp\_lh[s_kl\ZD \_ebdhfmg_m^h\hevkl\bx`_gsbglmZe_l__ [ue[_amij_q_g\k_aZ\b^h\Zebihdjhx__ ieZlvy b lhfmdZdkb^blgZg_cdhjkZ`²wlhh[uqghijbibku\Z_lkybah[j_lZl_evghklbdZdhcgb[m^v g_\_^hfhc ihjlgbob b[h ^Zfu ij_^ihqblZxl \_jblv \ fZkl_jkl\h r\_b g_`_eb ih \_jblv \ bays_kl\hb kljhcghklv`_gsbgu Ikboheh]bq_kdb \jy^ eb fukebfh qlh[u lhgdZy kdehggZy d f_eZgohebb `_gsbgZ \^jm] klZeZ hlqZygghc dhd_ldhc ebrv ihlhfm qlh hgZ lZd j_rbeZ LZd `_ ikboheh]bq_kdb g_kh\f_klbfu kljZklgZy ex[h\v @xeb d ehj^m =j_g\bex b __ iZl_lbq_kdbc hldZa klZlv _]h \haex[e_gghcijbbklbgghcex[\blZdg_[u\Z_l ²Fbehj^²kdZaZeZ@xebijbljZ]b\Zykvd _]hjmd_²ijhrm\ZkkhojZgbl_lm`bagv dhlhjmx\ufg_\_jgmebqbklhcb g_aZiylgZgghcGZrb^hjh]bjZkoh^ylkygZ\k_]^Z <_ebq_kl\_ggh]ey^ygZehj^ZhgZaZ\_jy_l_]hqlhhklZg_lky\_jghc`_ghck\h_]hfm`Z Ij_^Zgghklv __ fm`m hlgug_ [m^_l [_a]jZgbqgZ gh \k_ `_ hgZ \k_]^Z [m^_l `blv ijb g_f ©\^h\hcªIZnhk@xebij_^klZ\ey_lkyl_f[he__g_bkdj_ggbfe`b\ufqlhfu\ihke_^kl\bb magZ_f h __ gZjmr_gbb klhev lhj`_kl\_ggh]h h[_sZgby Ke_^m_l ih^q_jdgmlv _s_ jZa qlh ijbl\hjguc iZnhk b bkdj_gg__ qm\kl\h ikboheh]bq_kdb g_kh\f_klbfu Ihke_ kf_jlb ehj^Z =j_g\bey ih`_jl\h\Z\r_]h `bagvx jZ^b kiZk_gby @xeb k g_x ijhbkoh^bl hq_j_^gh_ ij_\jZs_gb_ HgZ \gh\v gZihfbgZ_l gZf fZe_gvdmx @xeb ihke_ i_j\h]h ]h^Z kmijm`_kdhc `bagb IjZ\^Z l_i_jv ^ey ]em[hdhc i_qZeb _klv \k_ hkgh\Zgby h^gZdh wlZ i_qZev ijbgbfZ_l [he_ag_ggu_nhjfub ^eblkykebrdhf^he]hM_a`Zy\ k\h_bf_gb_@xebkb^blhldbgm\rbkv gZkibgdmlZjZglZkZ©dZdkf_jl_evgh[hevgZyªHgZ`b\_l\ iheghfh^bghq_kl\_hldZau\Z_lky ijbgbfZlv ibsm @xeb j_rZ_l `^Zlv dhgpZ a^_kv \ wlhc dhfgZl_ ]^_ g_dh]^Z mf_jeZ __ [Z[mrdZ Qm\kl\Z __ g_ m\yeb g_ aZqZoeb Z keh\gh hdZf_g_eb ih^ \ebygb_f g_\ughkbfhc b g_kdhgqZ_fhc [heb F_klguc k\ys_ggbd ihke_ g_kdhevdbo [_k_^ k g_x m[_^beky \ lhf qlh khklhygb_ __ \ kZfhf ^_e_ m`ZkZxs__ G_kfhljy gZ \_kvfZ ^h[jh`_eZl_evgh_ hlghr_gb_ d @xeb hg jhgy_l jZabl_evgmx njZam ©>Z km^Zjugy \u ijZ\u ^ey \Zk emqr_ [ueh [u mf_j_lvª Gh _keb a^_kv _s_ fh`gh ihqm\kl\h\Zlv p_evghklv ebqghklb ohly [u \ ©p_evghklb kljZ^Zgbyªlh\ hlghr_gbb@xebd j_[_gdmfuklZedb\Z_fkyk gh\uf\ZjbZglhf__ ebqghklb D k\h_c^_\hqd_hgZoheh^gZb Z[khexlghjZ\gh^mrgZ^Z`_\b^_lv__ g_ohq_lDh]^Zj_[_ghd h[jZsZ_lkyd g_ck \hijhkhfbebk ijhkv[hc@xebijh]hgy_l__ijhqvDZd`_h[tykgy_lwlh ;ZevaZd" GbdZd Hg h]jZgbqb\Z_lky l_f qlh g_kdhevdh jZa aZ^Z_l qblZl_ex jblhjbq_kdbc \hijhk ©G_ kljZrgu eb g_ qm^h\bsgu eb fmq_gby qlh aZ]emrbeb ]hehk fZl_jbgkl\Z \ `_gsbg_ klhev fheh^hc"ª Ih^ \ebygb_f _s_ h^gh]h fm`qbgu dhlhjuc klZgh\blky __ \haex[e_gguf k @xeb kgh\Z ijhbkoh^bl iheg_crZy f_lZfhjnhaZ HgZ i_j_`b\Z_l b^beebx gZehg_ijbjh^uk ^jm]hfb ^\mfy^_lvfbbadhlhjuoi_j\Zy²g_ex[bfZy^hqv²hlfm`Z \lhjZy`_²]hjyqhex[bfZy²hl^jm]ZDm^Z^_\ZeZkv`_gsbgZhlebqZ\rZykyklhevkljh]hc fhjZevx"L_i_jvhgZ[_aaZ[hlghj_a\blkyb g_`gbqZ_lkhk\hbf\haex[e_ggufm \k_ogZ\b^m DZ`_lky kljZgguf qlh fm` gbq_]h g_ ih^haj_\Z_l ohly \hkvfbe_lgyy ^hqv \k_ aZf_qZ_l b kfhljblgZ fZlv kh kdjulhc \jZ`^_[ghklvx Ihoh^m ^Zevg_cr_]hih\_kl\h\Zgby fuk @xeb m`_ ihqlb g_ klZedb\Z_fky HgZ bah[jZ`_gZ \ djm]m k_fvb \k_ k l_f `_ fm`_f b m`_ k q_lujvfy ^_lvfb Gh ijh^he`_gb_ __ bklhjbb bah[jZ`Z_lky m`_ \ km]m[h ijbdexq_gq_kdhf ^mo_\b^bfh\ ^mo_©[mev\ZjguoªjhfZgh\dhlhju_Z\lhjibkZe\ xghklbLml_klvb m[bcpZ bsmsbcm[_`bsZhlij_ke_^h\Zl_e_c\ ^hf_@xebb jhdh\Zyex[h\vk i_j\h]h\a]ey^Zd g_fm klZjr_c ^hq_jb @xebb ibjZlkdh_ km^ghgZqZevgbdhf dhlhjh]h klZgh\blky m[bcpZ b kp_gu `_klhdhc jZkijZ\u k ie_ggbdZfb gZ iZem[_ \ lh \j_fy dZd fheh^Zy `_gZ ^hqv @xeb m g__ lh`_m`_q_l\_jh^_l_cb^beebq_kdbijhoeZ`^Z_lky\ dZxl_b gZiZ^_gb_ibjZlh\gZdhjZ[ev gZ dhlhjhf iml_r_kl\m_l @xeb k fm`_f b k ^_lvfb b mgbqlh`_gb_ \k_o iZkkZ`bjh\ djhf_ @xebk ex[bfhc^hq_jvx:ihn_hahfjhfZgZy\ey_lkyihegZyj_abgvypby@xebJZamf__lky ikboheh]bq_kdbc jhfZg g_ h[yaZl_evgh ^he`_g ij_^klZ\eylv gZ k\hbo kljZgbpZo Zdp_glmbjh\Zgguoebqghkl_cGh\k_`_p_evghklvebqghklb^he`gZ[ulvohlv\ dZdhclhf_j_ kh[ex^_gZ < ZgZebabjm_fhf jhfZg_ wlZ p_evghklv gZjmr_gZ ]jm[_crbf h[jZahf Ih\_^_gb_ @xeb\ jZagh_\j_fyg_lhevdh\Zjvbjm_lqlh_s_fh`gh[ueh[uh[tykgblvbaf_gb\rbfbky h[klhyl_evkl\Zfb Z \hafh`gh b iZlheh]bq_kdbf jZa\blb_f gh \ __ j_Zdpbyo hlf_qZxlky ikboheh]bq_kdb g_kh\f_klbfu_ ijhlb\hj_qby M GZgZ _s_ fh`gh [ueh k^_eZlv ihiuldm hlukdZlv ©ikboheh]bq_kdb_ fhkluª dhlhju_ fh]eb ©k\yau\Zlvª __ \gmlj_ggb_ baf_g_gby M @xeb wlh \hh[s_ bkdexq_gh KgZqZeZ hgZ klhev lhgdh qm\kl\bl_evgZ qlh ih\k_^g_\gZy kmijm`_kdZy jmlbgZ ^h\h^bl __ ^h [he_agb ^h hlqZygby G_ihkj_^kl\_ggh ihke_ wlh]h hgZ ihdZaZgZdZdh^gZbakZfuo[e_klysbob m\_j_gguodhd_lhd[hevrh]hk\_lZk dhlhjhcg_fh`_l kjZ\gblvky gb h^gZ `_gsbgZ GZ kf_jlv [ebadh]h ^jm]Z hgZ j_Z]bjm_l qj_a\uqZcgh qm\kl\bl_evgh \ lh `_ \j_fy g_ ijhy\ey_l gbdZdhc qmldhklb d kh[kl\_gghfm j_[_gdm g__kl_kl\_ggh oheh^gZ d g_fm Ih^ dhg_p hgZ [_afyl_`gh gZkeZ`^Z_lky `bagvx hldjulh h[fZgu\Zyfm`Zk ex[h\gbdhfOhly\ jhfZg__klvfgh]hp_gguogZ[ex^_gbcgZ^lh]^Zrgbf h[s_kl\hf ohly _]h kljZgbpu k\b^_l_evkl\mxl h agZgbb ex^_c h^gZdh ^mfZ_lky qlh lZdh_ ij_g_[j_`_gb_ d p_evghklb ebqghklb ikboheh]bq_kdb g_^himklbfh <f_klh ©Ljb^pZlbe_lg_c `_gsbguªy fh][uijb\_klbb jy^^jm]bojhfZgh\;ZevaZdZqlh[uijh^_fhgkljbjh\Zlvj_adb_ i_j_f_gu\ kljmdlmj_ebqghklb_]hi_jkhgZ`_cHkh[_gghihdZaZl_e_g\ wlhfkfuke_<hlj_g dhlhjucbah[jZ`Z_lky\ g_kdhevdboijhba\_^_gbyog_j_^dhgZijhly`_gbb^Z`_h^gh]hjhfZgZ <hlj_gg_kdhevdhjZaij_^klZ_lbgufq_eh\_dhfK dmabghc;_llhcbah^ghbf_ggh]hjhfZgZ lZdb_ f_lZfhjnhau gZ i_j\uc \a]ey^ g_ ijhbkoh^yl \ky __ `bagv ih^qbg_gZ h^ghfm _^bgkl\_gghfmkljZklghfm`_eZgbx²hlhfklblvk_klj_d dhlhjhchgZihklhygghbkiulu\Z_l j_\ghklvb aZ\bklvH^gZdhf_lZfhjnhauebqghklbbf_xlkyb a^_kvlhevdh;ZevaZdijb^Zebf hkh[mx nhjfm dZd [u h[t_^bgb\ \ dmabg_ ;_ll_ ^\_ jZaebqgu_ ebqghklb HgZ lZcdhf ijbgbfZ_l f_ju d lhfm qlh[u [jhkblv l_gv gZ q_klv k_fvb k\h_c k_klju qlh[u imklblv wlm k_fvx ih fbjm gh h^gh\j_f_ggh y\ey_lky ^h[juf Zg]_ehf k_fvb __ kiZkbl_evgbp_c Dh]^Z ;_llZ mfbjZ_l k_kljZ k ^_lvfb b \gmdZfb klhyl m __ kf_jlgh]h h^jZ \k_ ijbkmlkl\mxsb_ \ ke_aZo hgb kdhj[yl h g_c dZd h [eZ]h^_l_evgbp_ b k\ylhc G_ bkdexq_gh qlh hkh[_ggh lZeZgleb\ucbkl_jbdb fh][u\ l_q_gb_^he]h]h\j_f_gbb]jZlv\ `bagblZdmx^\hcgmxjhev ghkm^y ih hibkZ gbx ;_llZ iheghklvx ebr_gZ bkl_jbq_kdbo q_jl H^gZdh b wlh _s_g_ \k_ ;_llZij_^klZ_li_j_^gZfb_s_b \lj_lv_fh[ebd_^_\mrdZbaijhklhck_fvbjZ[hlZxsZy\ IZjb`_ fgh]h e_l r\__c b aZjZ[Zlu\ZxsZy wlbf gZ `bagv hgZ mfm^jbeZkv hlijZa^gh\Zlv ihfhe\dm k fZjrZehf NjZgpbbb \hl\hl klZg_l ]jZnbg_c Lhevdh g_h`b^ZggZy kf_jlv ]jZnZ ij_iylkl\m_l\ae_lm;_llugZ\_jrbgmlh]^Zrg_]hk\_lkdh]hh[s_kl\ZF_`^ml_fgbqlh\ __ ih\_^_gbb g_ ]h\hjbl h[ mlhgq_gghf jZkq_l_ h[ bgljb]Zo gZijhlb\ dmabgZ ;_llZ \_^_l k_[y ^hklZlhqgh ]jm[h ijb[_]Zy d kZfuf g_mdex`bf fZg_\jZf K [hevrbf ijZ\hf q_f ;ZevaZdZ fh`gh gZa\Zlv ikboheh]hf g_f_pdh]h ibkZl_ey @ZgZ Ihey ² dhlhjuc g_j_^dh ]em[hdh ijhgbdZ_l \ hkh[_gghklb q_eh\_q_kdbo j_Zdpbc Gh b m @ZgZ Ihey g_ \k_]^Z [u\Z_l kh[ex^_gZ p_evghklv ebqghklb Iha\hex k_[_ g_kdhevdh ih^jh[g__ dhkgmlvky _]h ba\_klgh]h jhfZgZ ©Ab[_gdwaª A^_kv fZkl_jkdb ihdZaZgh dZd gZ ihq\_ fZl_jbZevghc gm`^u b [ulh\uo ljm^ghkl_ciheghklvxjZkiZ^Z_lky[jZdFu\b^bfqlhkmijm]b\ kbemjZaebqgh]hhlghr_gby d [ulh\uf g_iheZ^dZf \k_ qZs_ kkhjylky ^jm] k ^jm]hf ih ih\h^m gbqlh`guo f_ehq_c ihkl_i_gghgZqbgZxl^jm]^jm]Zg_\ughkbfhjZa^jZ`Zlvb ihke_hq_j_^ghckkhjubkiulu\Zxl \k_\hajZklZxsmx\aZbfgmxg_gZ\bklv< wlhjZa\blb_\ie_lZ_lky\_kvfZex[hiulguck lhqdb aj_gby ikbobZljZ nZdl \g_rgb_ jZa^jZ`_gby \hkijbgbfZxlky qZklh k hkh[hc kbehc ih lhc ijbqbg_ qlh q_eh\_d khkj_^hlhq_g gZ bo h`b^Zgbb LZd rmf gZ mebp_ b gZ e_klgbp_ g_ jZa^jZ`Zxl Ab[_gdwaZ gh fZe_crbc rhjho ijhba\h^bfuc `_ghc ijb m[hjd_ d\Zjlbju \u\h^bl_]hbak_[y@ZgIhevibr_l©>hklZlhqgh[ueh_ck^_eZlviZjmrZ]h\qlh[uhgm`_ ihqm\kl\h\Ze ijbklmi [_r_gkl\Z wlhl a\md \kydbc jZa ^mrbe iZjm _]h ohjhrbo k\_`bo fuke_cªkIhke_jZa]h\hjZk fm`_f`_gZ\uihegy_l^hfZrgxxjZ[hlmihqlb[_krmfgh ©HgZ i_j_e_lZeZ ba h^gh]h ih f_s_gby \ ^jm]h_ g_keurgh dZd iZmqhdª k Gh ohly Ab[_gdwa ihqlb g_ meZ\eb\Z_l a\mdh\ hklZ_lky gZijy`_ggh_ h`b^Zgb_ lh]h dh]^Z `_ ©ihkeurblky rmfª ©<hl m`_ qZk y kemrZx dZd lu oh^brv gZ puihqdZo emqr_ m` lhiZc \ ^_j_\yrdZoih^[bluo`_e_ahfijZ\hemqr_g_klZjZckyoh^bdZdh[uqgh^mrZfhyªk @_gZ\uihegy_lb wlm_]hijhkv[moh^blh[uqghcihoh^dhcGhdZd[uhgZgb oh^beZAb[_gdwa \k_ jZ\gh khkj_^hlhq_g gZ __ rZ]Zo Z g_ gZ k\h_c jZ[hl_ Lh]^Z ©Ebg_llZ ijbkihkh[beZkv g_ ^_eZlv gbdZdhc jZ[hlu ih ^hfm ihdZ Ab[_gdwa kb^y aZ klhehf ibr_l ^h`^Z\rbkv iZmau \ jZ[hl_fm`ZhgZk m^\h_gghcwg_j]b_cijbgbfZ_lkyhjm^h\Zlvs_ldZfbb \_gbdZfbªk Gh Ab[_gdwa \kdhj_ jZkdmkbe wlm lZdlbdm ©ihkf_gghc jZ[hluª B h`b^Zgb_ Ebg_llhc iZma \ jZ[hl_fm`Z^_eZeh_]h[hevgufZ _]hb^_b²[_kieh^gufbKblmZpby^hklb]Z_ldmevfbgZpbb \ lhlfhf_gldh]^ZAb[_gdwadjbqblEbg_ll_qlh[uhgZg_\u`b^ZeZ_]h©bgl_j\Zeh\ªZ emqr_ kjZam m[beZ [u _]h Bf_ggh lZd dZd wlh hibkZgh m @Zg Ihey \hagbdZ_l h[uqgh g_\jha h`b^Zgby G_ij_ju\gh_ h`b^Zgb_ q_]heb[h h[hkljy_l gZijy`_gb_ H[s_ba\_klgh jZa^jZ`Zxs__ ^_ckl\b_ dZiZxs_c \h^u dh]^Z ohq_lky kiZlv ?keb [u aZkuiZxsbc gZqZe kqblZlv iZ^Zxsb_ dZieb lh hg kgZqZeZ \dexqbeky [u \ ©j_amevlZlb\gh_ª kemrZgb_ b ihkl_i_ggh mkgme [u Ih^h[guc `_ oh^ gZf_qZ_lky b lh]^Z dh]^Z q_eh\_d ijbfbjy_lky k nZdlhf\k_jZ\ghdZieb[m^mliZ^Zlv\kxghqvGhdh]^Zh`b^Z_rvqlhdZiZgb_ij_djZlblky dh]^Z g_kihdhcgh \hjhqZykv gZ^__rvky gZ wlh dZ`^Zy hq_j_^gZy dZiey ijbghkbl gh\h_ jZahqZjh\Zgb_ bf_ggh lZdb_ kf_gu kihkh[kl\mxl \hajZklZgbx wfhpbhgZevgh]h gZijy`_gby WfhpbhgZevgh_gZijy`_gb_fh`_lmkbeb\Zlvkyb ih^jm]hfmih\h^mgZijbf_jq_eh\_dihgye qlh dZiZgv_ g_ ij_djZlblky gh [hj_lky k kh[hc \klZlv eb qlh[u aZdjmlblv djZg beb m` fZogmlvjmdhcgZ\k_b hklZlvky\ ihkl_ebIh^h[gufh[jZahfAb[_gdwaijbkemrb\Z_lkyd lhfm qlh [m^_l ^_eZlv _]h `_gZ @Zg Ihev ij_\hkoh^gh hibkZe \ k\h_f jhfZg_ l_q_gb_ ^Zggh]h jZa\blby >ey gZb\ghc Ebg_llu ih\_^_gb_ fm`Z dhg_qgh g_ihgylgh HgZ kijZrb\Z_l _]h ihq_fm `b\msbc ih khk_^kl\m fZevqbd dhlhjuc lZd mlhfbl_evgh ibebdZ_l \_kv ^_gv gZ kdjbid_ g_ f_rZ_l _fm k\hbfb ijhgabl_evgufb ^bkkhgZgkZfb \ lh \j_fy dZd hgZ Ebg_llZ f_rZ_l ^Z`_ lbohgvdh ih^f_lZy ihe @Zg Ihev g_iehoh jZa[bjZ_lky \ jZaebqguo lbiZo ih\_^_gby ex^_c Z _s_ emqr_ agZ_l kZfbo ex^_c Ebg_llm hg gZau\Z_l oh^yq_c klbjZevghc fZrbghcb f_oZgbq_kdhcf_lehc?_km]m[hijZdlbq_kdbcmfg_ihdb^Z_l__ blh]^Zdh]^Zj_qv b^_lh qm\kl\Zolhgdbob [eZ]hjh^guoGbdh]^ZAb[_gdwamg_m^Z_lkyaZjZablv__ ©ebjbq_kdbf wglmabZafhfex[\bª²lZdqlh[uhgZaZ[ueZ\k_gZk\_l_ih^]jZ^hf_]hihp_em_\hgZkqblZ_l m^Zju qZkh\ gZ ]hjh^kdhc [Zrg_ beb ijbkemrb\Z_lky g_ \udbiZ_l eb gZ dmog_ kmi HgZ kihkh[gZij_j\Zlvi_gb_ikZefZ\hijhkhfqlhih^h]j_lvgZm`bg: h^gZ`^udh]^ZAb[_gdwa qblZe_cijhqm\kl\_ggmxk\hxijhih\_^vh kf_jlbb \_qghklbhgZ\^jm]i_j_[beZ_]hnjZahc ©E_\uc ghkhd g_ gZ^_\Zc ihdZ y g_ aZrlhiZx lZf ^ujdZª Qlh b ]h\hjblv h[jZa Ebg_llu \_kvfZ oZjZdl_j_g lZdh]h lbiZ `_gsbg fgh]h GZ j_^dhklv ieZklbqghc ^_eZxl wlm fheh^mx hkh[mg_Zdp_glmbjh\Zggu_q_jluoZjZdl_jZbebl_fi_jZf_glZkZfbihk_[_Z fZkl_jkl\h@ZgZ Ihey dZd om^h`gbdZ keh\Z KZf Ab[_gdwa h[gZjm`b\Z_l \h fgh]bo kblmZpbyo qj_a\uqZcgh ex[hiulgu_k ikboheh]bq_kdhclhqdbaj_gbyj_Zdpbbghh^gh\j_f_gghfugZ[ex^Z_fm g_]hb lm kh\_jr_ggh g_h[hkgh\Zggmx baf_gqb\hklv ih\_^_gby h dhlhjhc y ]h\hjbe \ur_ K h^ghc klhjhgu hg ² qm\kl\bl_evguc f_qlZl_ev `_klhdh kljZ^Zxsbc baaZ ijbfblb\ghklb wfhpbhgZevghc kn_ju k\h_c `_gu k ^jm]hc klhjhgu hg k\Zjeb\uc \_qgh jZa^jZ`_gguc kmijm] hlghr_gb_ dhlhjh]h d `_g_ ^Ze_dh hl qmldhklb b l_iehlu ?]h qm\kl\h d GZlZeb qj_af_jghk_glbf_glZevgh^Z`_wdaZevlbjh\Zggh\ lh`_\j_fyhgkihkh[_ggZ]jm[uch[fZgb `mevgbq_kl\h bklhjby dh]^Z hg ijbl\hjbeky mfbjZxsbf Z aZl_f b f_jl\_phf k ihke_^mxsbfb eh`gufb ihohjhgZfb <jy^ eb h^bg q_eh\_d fh`_l ghkblv klhevdh ebqbg KijZ\_^eb\hklbjZ^bke_^m_lhlf_lblvqlh\ jhebbkihegy_fhc\ ^Zggucfhf_gl²[m^vlh k\Zjeb\uc kmijm] jhfZglbq_kdbc ex[h\gbd beb gZ]euc h[fZgsbd ² Ab[_gdwa Z[khexlgh ijZ\^b\b bkdj_g_gFh`ghml\_j`^Zlvqlhih]em[bg_dhlhjZyk\hckl\_ggZ@ZgmIhexijb hibkZgbb q_eh\_q_kdh]h ih\_^_gby hg [_amkeh\gh ibkZl_evikboheh] H^gZdh g_dhlhju_ i_jkhgZ`b _]h g_ kh\k_f j_Zevgu Hl\_qZy gZ \hijhk h lhf _klv eb kj_^b i_jkhgZ`_c @ZgZ Ihey Zdp_glmbjh\Zggu_ ebqghklb fu ^he`gu [ueb [u gZa\Zlv ij_`^_ \k_]h k\h_h[jZagh]h ©ijZdlbdmxs_]h \jZqZ b ZgZlhfbq_kdh]h ijhn_kkhjZ DZp_g[_j]_jZª _keb [u lhevdh kms_kl\h\Zeb ih^h[gu_ ex^b \ ^_ckl\bl_evghklb H^gZdh wlhl h[jZa ihjh`^_g kh[kl\_ggh xfhjhf@ZgZIheybebdZdibkZl_evkZfdh]^Zlh\ujZabekyhgihijhklmj_rbe\ wlhfkemqZ_ ©ihhahjgbqZlvª M\e_q_gb_f ijhn_kkhjZ y\eyxlky \kydh]h jh^Z mjh^kl\Z aZcpu k \hk_fvx gh]Zfb r_klbiZeu_ jmdb ?fm ohl_ehkv [u qlh[u ^Z`_ m jh^ghc ^hq_jb [ueh dZdh_eb[h mjh^kl\hk ²Gh²]h\hjblhgh[jZsZykvd g_c²d kh`Ze_gbxijhklby ohl_ekdZaZlvd kqZklvx l\hyfZlvihke_^h\ZeZl_abkmEZnZl_jZZ\lhjbl_lghaZy\b\r_]hqlhh[uqghl_fZl_jbdhlhju_ \h\j_fy[_j_f_gghklb[hevr_\k_]h[hylkyijhba\_klbgZk\_lmjh^pZjh`ZxlkZfuodjZkb\uo ^_l_c DZp_g[_j]_j ihr_e [u b gZ lh qlh[u \klmiblv \ [jZd k mjh^hf _keb _]h g_evay ijbh[j_klb^eydhee_dpbbaZ[he__^_r_\mxp_gmQj_a\uqZcghkljZggu_\dmkum ijhn_kkhjZ ih qZklb _^u < ih^\Ze_ h^ghc ]hklbgbpu ]^_ _fm ijbrehkv aZghq_\Zlv hg mkbe_ggh bs_l iZmdh\qlh[uiheZdhfblvkybfbHgjZkkdZau\Z_lqlh_]hjZaju\k g_\_klhcijhbahr_ebaaZ lh]h qlh hg gZ __ ]eZaZo ©jZa^_eZe b kt_eª fZckdh]h `mdZ < h[s_kl\_ hg [e_s_l ^bdbfb b ^mjZreb\ufb\ukdZau\ZgbyfbGZijbf_jh^ghcklZjhc^_\_hgkh\_lm_l©g_aZklm^blv]jm^vª ghlml`_^h[Z\ey_l©<ijhq_f\k_wlh\uagZ_l_\u`_dhjfbeb"IjbagZ\Zcl_kv²kdhevdbo \udhjfbeb"ª Ex[bfh_ aZgylb_ ijhn_kkhjZ ² \h \j_fy _^u aZ\h^blv j_qv h[ mjh^Zo lh eb h q_eh\_d_ k h[_avygvbf o\hklhf lh eb h `_gsbg_ gZ kibg_ dhlhjhc ©jZkiheh`bekyª ^\_gZ^pZlbiZeuc fm`qbgZ < dhfiZgbb hg fh] jZkkdZau\Zlv h `_gsbg_ m dhlhjhc klme [ue \hafh`_gijbh^ghfmkeh\bb^eywlh]h_cgZ^h[uehgZqZlv[_am^_j`ghohohlZlvGZ[Zgd_lZo ijhn_kkhj ex[be ]h\hjblv h[h \k_f qlh \uau\Z_l nbabq_kdh_ hl\jZs_gb_ GZijbf_j hg ijhkljZggh jZa]eZ]hevkl\h\Ze h qbklhl_ kexgu mdZau\Zy qlh g_kfhljy gZ wlh gbdlh g_ \ khklhygbb \uiblv ^Z`_ ihe qZcghc eh`db kexgu LZdh\ ihjlj_l ijhn_kkhjZ DZp_g[_j]_jZ ;_kkihjghhg²ebqghklvZdp_glmbjh\ZggZyghebrv\ jZaj_a_nZglZabbibkZl_eyZ gbdZdg_\ jZfdZo^_ckl\bl_evghklbj_Zevghc`bagbFh`gheb]h\hjblvh ikboheh]baf_ZgZebabjm_fh]h ijhba\_^_gby" G_khfg_ggh \ jhfZg_ gZreb hljZ`_gb_ b `bag_ggZy fm^jhklv b [hevrh_ agZgb_ @Zghf Ihe_f ex^_c g_kfhljy gZ rmlhqgu_ b kf_rgu_ ij_m\_ebq_gby Gh g_ lZdhc ikboheh]baf\ p_glj_\gbfZgby\h\lhjhcqZklbfh_cdgb]bHklZgh\exkvih^jh[g__gZ^jm]hf h[jZa_@ZgZIheyg_khfg_gghij_^klZ\eyxs_fkh[hxZdp_glmbjh\ZggmxebqghklvgZh[jZa_ ijhih\_^gbdZRf_evp_=h\hjyh[Zdp_glmbjh\Zgguoebqghklyog_fh]mh[hclbfheqZgb_fb lZdh]h om^h`gbdZ keh\Z dZd <bev]_evf JZZ[_ m dhlhjh]h g_fZeh h[s_]h k @Zghf Ihe_f H^gZdhkljZgghklb[jhkZxsb_ky\ ]eZaZm fgh]boqm^Zdh\Zluoi_jkhgZ`_cJZZ[_g_\ul_dZxl hj]Zgbq_kdb ba l_o beb bguo q_jl ebqghklb Z ijbeZ]Zxlky d ^_ckl\mxsbf ebpZf [_a \gmlj_gg_c k\yab bgh]^Z dZd [u bkdmkkl\_ggh ijbkl_]b\Zxlky d gbf GZijbf_j l_lmrdZ Rehl_j[_d ba jhfZgZ ©=heh^guc iZklhjª gbq_f g_ \u^_eyykv y\eyykv \iheg_ `bag_gghc b ^Z`_ ijZdlbqghc hkh[hc gZ mebp_ ihklhyggh ©\klj_qZ_lky k ihdhcgbdZfbª KZf ©=heh^guc iZklhjª \ fheh^hklb ydh[u[ue f_qlZl_e_f \ q_fihoh^be gZ k\h_]h hlpZ kZih`gbdZ gh fu klZedb\Z_fkyk gbf\ lhli_jbh^dh]^Zhgebr_gm`_\kydh]hjhfZglbq_kdh]hhj_heZgZijhlb\ kljhblk\hx`bagvgZ\_kvfZijZdlbqguogZqZeZoQlhdZkZ_lkye_cl_gZglZ=_pZlhfh`gh[ueh [u \gZqZe_ ijbgylv _]h aZ ]jm[h]h ]bihfZgbZdZ gh iha^g__ fu \b^bf dZd hg aZ[hleb\h hlghkblky d ie_fyggbp_ dZd hg qm\kl\bl_e_g b ^Z`_ k_glbf_glZe_g k g_x Z wlb dZq_kl\Z ]bihfZgbZdm \h\k_ g_ k\hckl\_ggu =bihfZgbZdZevguc l_fi_jZf_gl =_pZ kdZau\Z_lky ih`Zemc\ ihklhygguohlklmie_gbyohlhkgh\ghceh]bq_kdhcebgbb\ _]hjZkkdZaZo\ fZg_j_ ih^jh[gh hklZgZ\eb\Zlvky gZ gbdhfm g_ gm`guo ih^jh[ghklyo Ihke_^gyy hkh[_gghklv k\hckl\_ggZ \ijhq_f fgh]bf i_jkhgZ`Zf JZZ[_ Z hlqZklb b _]h kh[kl\_gghc fZg_j_ ih\_kl\h\Zgby GZijbf_j FZkl_j :\lhj \ h^ghbf_gghc ih\_klb gZ ijhly`_gbb kljZgbp jZkkdZau\Z_l h k\h_f feZ^r_f [jZl_ ij_`^_ q_f i_j_clb d g_ihkj_^kl\_gghc p_eb k\h_]h \bablZ²ihkh\_lh\ZlvkygZkq_laZ\_sZgby[jZlZ?]hjZkkdZalhm\h^bl\ klhjhgmlhbah[bem_l baebrgbfb ^_lZeyfb ohly \ kdeZ^_ FZkl_jZ g_ aZf_lgZ gb ]bihfZgbZdZevgZy gb wibe_ilhb^gZyZdp_glmZpby Fgh]boqm^Zdh\Zluoi_jkhgZ`_cJZZ[_fh`gh[ueh[uhlg_klbd bgljh\_jlbjh\Zggufgh qm^Zq_kl\Z bo k\yaZgu g_ klhevdh kh k\h_h[jZaguf oh^hf fuke_c kdhevdh kh kljZgguf ih\_^_gb_f< hkh[_gghklbwlhhlghkblkyd D\_jbZgmbaih\_klb©=hkih`ZKZehf_yªh fukeyo dhlhjh]h qblZl_ev lZd gbq_]h b g_ magZ_l h^gZdh ihjZ`Z_lky _]h [he__ q_f kljZgghfm ih\_^_gbxKZfFZkl_j:\lhjg_khfg_gghy\ey_lkybgljh\_jlbjh\Zgghcebqghklvxm g_]hfu \klj_qZ_ffgh]hnbehkhnkdbojZkkm`^_gbch `bagbh kf_jlbh^gZdh[jhkZ_lky\ ]eZaZqlhhg g_ jZa\b\Z_l dhgkljmdlb\guo dhgp_ipbc Z ]eZ\guf h[jZahf djblbdm_l h[jZa `bagb hdjm`Zxsbo<_jhylghhkgh\ghcp_evxJZZ[_[uehijhklhkha^Zlv]Ze_j_xex^_cg_h[uqguo b[hhg\_kvfZhohlgh]h\hjblh k\hboi_jkhgZ`ZodZdh ]emiuoqm^ZdZobeb[eZ`_gguobgh]^Z ^Z`_lZf]^_^eywlh]hdZd[m^lhg_lhkgh\Zgbc<_evl_g:g^j__baih\_klb©E_lhibkbIlbqv_c keh[h^uª ihke_ kf_jlb fZl_jb \_^_l k_[y ih`Zemc dZd ^mr_\gh[hevghc hg g_f_^e_ggh k`b]Z_lb jZa^Zjb\Z_ldhfmihiZeh\k___ \_sbd dhlhjuf[ue\k_c^mrhcijb\yaZgGhJZZ[_ gZ^_ey_l _]h wibl_lZfb ©]emi_pª ©g_\f_gy_fuc qm^Zd b nZglZa_jª ©b^bhl :g^j__ª ©kmfZkr_^rbcªb li_s_\ i_jbh^_]hij_[u\Zgby\ rdhe_dh]^Zhgijhy\eyeg_[he__q_f fZevqbr_kdmx rZeh\eb\hklv beb hlkmlkl\b_ bgl_j_kZ d aZgylbyf < k\hbo \ukdZau\Zgbyo fgh]b_i_jkhgZ`bJZZ[_qZklhh[gZjm`b\Zxl]em[hdmxfm^jhklvdhlhjZyljm^gh\y`_lkyk bo jh^hf^_yl_evghklbGZijbf_j\ ©Rx^_jmfi_ªkZfuffm^jufbai_jkhgZ`_chdZau\Z_lkyYgZ <Zj\hevn aZgbfZxsZyky lhj]h\e_c ]ZeZgl_j__c \jZaghk Dj_klvygbg ih ijha\bsm ©NZjrbjh\Zgguc ibjh]ª ]h\hjbl dZd nbeheh] k deZkkbq_kdbf h[jZah\Zgb_f Hg kfmlgh ihfgblqlh\h\j_fyhghhdhgqbe]bfgZabxijZ\^ZhklZ\rbkvg_kdhevdhjZagZ\lhjhc]h^ h^gZdhm`_fgh]he_ldj_klvygkl\m_lb wlh\jy^ebfh]ehg_hljZablvkygZkljh__]hj_qb?]h `_gZ <Ze_glbgZ lh`_ gbq_f g_ gZihfbgZ_l dj_klvygdm Z ]h\hjbl dZd h[jZah\ZggZy ^ZfZ ba \ukrbo djm]h\ < h[s_f ke_^m_l kdZaZlv qlh fgh]b_ h[eZ^Zxsb_ ba\_klgufb kljZgghklyfb ]_jhbom^h`_kl\_gghcebl_jZlmjum dhlhjuofh`gh[ueh[uij_^iheh`blvZdp_glmZpbx\k_ `_g_iha\heyxlkha^Zlvh k_[_q_ldh]hkm`^_gbyb[hibkZl_ebg_ihdZau\Zxl\ q_f`_dhjgb bok\h_h[jZaguoq_jl<havf_fDZjeh=hev^hgb< k\h_cdhf_^bb©=hkih^Z\ ^hf_ªhg\u\h^bl ^\mo fm`qbg lbi dhlhjuo g_ klhev m` j_^dh \klj_qZ_lky \ j_Zevghc `bagb H[Z \ k_fv_ qm\kl\mxlk_[yg_h]jZgbq_ggufb\eZ^udZfblj_[mxlqlh[u`_guihklhygghboh[kem`b\Zeb gh kZfb gbkdhevdh g_ bgl_j_kmxlky `_eZgbyfb k\hbo `_g kqblZxl aZahjguf bo klj_fe_gb_ ijbgZjy^blvky gZ^_lv ^jZ]hp_gghklb Hgb dZl_]hjbq_kdb aZij_sZxl \k_f qe_gZf k_fvb ^Z`_ kZfu_ kdjhfgu_ jZa\e_q_gby \g_ ^hfZ ihk_s_gb_ l_ZljZ kqblZxl ^ey ihjy^hqgh]h q_eh\_dZ ihahjhf>_l_chgb^_j`ZlgZiheh`_gbbjZ[h\hgbg_lhevdhkZfbj_rZxlk d_f^hqvbebkug ^he`gukh_^bgblvkymaZfb[jZdZghg_jZaj_rZxlbf^h[jZdhkhq_lZgby ^Z`_ ihkfhlj_lv gZ k\hbokm`_guoIhemqZyh^gmebrv]hemxbgnhjfZpbxh lZdhfih\_^_gbb]_jh_\g_agZy_]h bklhdh\ fu ebr_gu \hafh`ghklb hlg_klb ^_ckl\mxs__ ebph d hij_^_e_gghfm lbim Zdp_glmbjh\Zgguo ebqghkl_c fh`_l [ulv i_j_^ gZfb k\h_h[jZagu_ q_jlu aZklj_\Zgby Z fh`_l [ulv bah[jZ`Zxlky ebqghklb i_^Zglbq_kdb_ iheZ]Zxsb_ qlh hgb h^gb agZxl dZdbf iml_f dZdhc lsZl_evgh jZajZ[hlZgghc kbkl_fhc fh`gh m[_j_qv qe_gh\ k_fvb hl jZkimlkl\Z <hafh`gh j_qv b^_l h ebpZo kh\_jr_ggh [_kqm\kl\_gguo oheh^guo b jZ\gh^mrguo d i_j_`b\Zgbx [ebadbo h ebpZo g_ agZxsbo bguo p_gghkl_c djhf_ dZd ih_klv b ihkiZlv Z fh`_l [ulv lZdb_ ]_jhb ijhklh ex^b djZcg_ dhgk_j\Zlb\gu_ b h]jZgbq_ggu_ ih]jyarb_ \ iZljbZjoZevguo ©^hfhkljh_\kdboª ljZ^bpbyo KZf fZl_jbZe ijhba\_^_gby g_ iha\hey_l gZf ijh\_klbgm`gmx^bnn_j_gpbZpbxihwlhfmh ^Zgguoi_jkhgZ`Zofug_fh`_f]h\hjblvdZd h[ Zdp_glmbjh\Zgguo ebqghklyo ohly bo ih\_^_gb_ b hlebqZ_lky jy^hf ex[hiulguo hkh[_gghkl_c < dhf_^byo qZklh \klj_qZ_lky _s_ b ^jm]hc lbi ex^_c ² \ukhdhf_jgu_ k_[yex[pudhlhju_\kx`bagvlhevdhb ^_eZxlqlhex[mxlkykh[hc<k_f[jhkZ_lky\ ]eZaZ bogZius_ggh_q\Zgkl\h< dZq_kl\_ijbf_jZfh`ghgZa\Zlv]jZnZ^_JhddZfhgl_badhf_^bb =hev^hgb©<__jªOhly]jZny\ey_lkyh[_^g_\rbfZjbklhdjZlhfbkh[kl\_gghkZfgm`^Z_lky\ ihfhsb h^gZdh hg ih\kx^m gZahceb\h j_deZfbjm_l k_[y dZd ©\ebyl_evgh_ ebphª ijhl_dpbx dhlhjh]h\k_f[ueh[uihe_aghk_[_h[_ki_qblvH[jZs_gb_©\Zr_[eZ]hjh^b_ªJhddZfhgl_g_ ij_fbg_l bkijZ\blvgZ ©\Zr_ \ukhdh[eZ]hjh^b_ª d ^jm]bf ZjbklhdjZlZf ]jZn h[jZsZ_lky kh keh\Zfb ©^hklhcguc dhee_]Z ih khkeh\bxª b hq_gv ex[bl ]h\hjblv ©fu ^\hjyg_ª Ijb]eZr_gb_ ihclb \f_kl_ \ ljZdlbj hg hohlgh ijbgbfZ_l gh aZieZlblv aZ k_[y iha\hey_l k lZdbf \b^hf keh\ghhdZau\Z_lhkh[mx fbehklv ijb]eZkb\r_fm H^gZdhb a^_kv ^jZfZlmj] g_ dZkZ_lky dhjg_c ih\_^_gby i_jkhgZ`Z hiylvlZdb hklZ_lky ijh[e_fhc q_f jmdh\h^kl\m_lky ]jZn fh`_l [ulv hg ho\Zq_g lbibqghc ^ey bkl_jbdZ ihlj_[ghklvx kZfhijhy\e_gby" Beb hg qj_af_jgh q_klhex[b\ b ijhklh ba[jZe ^_r_\mx p_ev ^ey m^h\e_l\hj_gby q_klhex[by" <hafh`gh hg djZcg_ h]jZgbq_g bgl_ee_dlmZevgh b ihwlhfm g_ aZf_qZ_l dZd kf_rgu _]h gZius_ggu_ fZg_ju GZdhg_p [ulv fh`_l \bghc \k_fm g_e_ih_ \hkiblZgb_ k^_eZ\r__ JhddZfhgl_gZ^f_ggufki_kb\ufq_eh\_dhf"<k_wlb\hijhkuhklZxlkyhldjulufbih\_^_gb_ ]jZnZg_\uoh^blaZjZfdbkx`_lZdhf_^bbb wlhg_ iha\hey_l hlg_klb _]h d lhfm beb bghfm lbim Zdp_glmbjh\Zgghc ebqghklb KZfh ih k_[_ ih\_^_gb_ JhddZfhgl_ dhfbqgh qlh b gm`gh Z\lhjmijbqbgu`__]hg_bgl_j_kmxl <ur_ ]h\hjbehkv qlh kms_kl\m_l g_fZeh ohjhrbo ikboheh]bq_kdbo jhfZgh\ \ dhlhjuo \hh[s_g_\u\_^_guZdp_glmbjh\Zggu_ebqghklbWlhiheh`_gb_m[_^bl_evghih^l\_j`^Z_lky l\hjq_kl\hf\_ebqZcr_]hikboheh]Zkj_^bjhfZgbklh\EGLheklh]h=_jhbjhfZgh\Lheklh]h hlebqZxlky^jm]hl^jm]Zg_dZdbg^b\b^mZevghklbZ dZdlbiuLbibqgucqbgh\gbdlbibqguc hnbp_jlbibqgucdmlbeZlbibqgZyfZlvlbibqgZyk\_lkdZy^ZfZ²\hlqlh\ i_j\mxhq_j_^v fh`ghkdZaZlvh ^_ckl\mxsboebpZo_]h[hevrbojhfZgh\< ©:gg_DZj_gbghcªDblby\ey_lky lbihf fheh^hc lhevdh qlh \ur_^r_c aZfm` `_gsbgu dhlhjZy ih^oh^bl d \klZ\rbf i_j_^ g_xaZ^ZqZfk ijZdlbq_kdbfhilbfbafhf?_k_kljZ>heeb²lbiaZ[hleb\hcfgh]h^_lghcfZl_ jbkqblZxs_cqlhm^_e__ dZd`_gsbgu²m\y^Zgb_\ lh\j_fydZd__ fm`hklZ_lkyp\_lmsbf \_qghfheh`Z\ufKlb\hcH[ehgkdbfFZlvDblbb >heeg²lbifZljhguhaZ[hq_gghcebrv l_f dZd [u ijbkljhblv ^hq_j_c DZj_gbg fm` :ggu ² lbi kmoh]h qbgh\gbdZ qm\kl\Z dhlhjh]hkijylZguih^g_ijhgbpZ_fufiZgpbj_fK\h^guc[jZlE_\bgZ²lbih^ghklhjhgg_]h mq_gh]hm g_]hhlkmlkl\m_lh[t_dlb\gh_\hkijbylb_fbjZ\k_kh[ulbyjZkp_gb\Zxlky\ k\_l_ ij_^eh`_gghc bf kZfbf bkdmk kl\_gghc gZmqghc ko_fu <lhjhc [jZl ² himklb\rbcky \ khpbZevghfb fhjZevghfhlghr_gbbq_eh\_dghqblZl_exgbq_]hg_khh[sZ_lkyh lhfdZdhg ^hr_e^hlZdh]hkhklhygby<ijhq_f\ wlhf`_jhfZg_\u\_^_gub ^\_y\ghZdp_glmbjh\Zggu_ ebqghklb h[_ hlebqZxsb_ky ]bihfZgbZdZevghklvx Wlh m`_ mihfygmluc Kl_iZg :jdZ^v_\bq H[ehgkdbc b ² _s_ \ [hevr_c kl_i_gb ² _]h ^jm] <Zk_gvdZ <_k_eh\kdbc dhlhjuc kgZqZeZ moZ`b\Z_laZDblbZ ihlhfb aZ:gghcH[Zhgb`ba g_jZ^hklgu_ \_k_evqZdb \k_]^Z ]hlh\u_ ihkf_ylvky ihrmlblv [_ki_qgu_ ^h[jh^mrgu_ b g_kdhevdh [_klZdlgu_ <b^bfh Lheklhc aZ^mfZe \hiehlblv \ h[hbo lbi ijh`b]Zl_ey `bagb Z k wlhc p_evx h[jZlbeky bf_ggh d ]bihfZgbZdZevguf ebqghklyf kj_^b dhlhjuo ijh`b]Zl_e_c `bagb \_kvfZ fgh]h KZf E_\bg dklZlb ij_^klZ\ey_l kh[hc \_kvfZ k\h_h[jZagmx bg^b\b^mZevghklv ?]h hlebqZxl ]em[hdZy bkdj_gghklv b klj_fe_gb_ d kijZ\_^eb\hklb D wlhfm ijbkh_^bgy_lky gZebqb_ kh[kl\_ggh]h fg_gby ih ex[hfm ih\h^m hkh[_ggh ih \hijhkZf j_eb]bhagh]h oZjZdl_jZ <k_ wlh iha\hey_l mkfZljb\Zlv\ g_fq_jlubgljh\_jlbjh\ZgghklbH^gZdhihiZ^Zy\ Fhkd\mE_\bg\_^_llZdhc `_ih\_joghklguch[jZa`bagbdZdb \k_ebpZijbgZ^e_`Zsb_d _]hh[s_kl\_gghfmdjm]m< ^_j_\g_ hg y\ey_lky h[jZaph\uf ihf_sbdhf Lheklhc b a^_kv hlgx^v g_ aZ^Z_lky p_evx ihdZaZlvfbjb^_cq_eh\_dZbkoh^ybakljmdlmju_]hebqghklb<b^bfhhgklj_fblkybaeh`blv kZfbb^_bboi_j\hgZqZevghwlbq_kdh_Z iha^g__ih^q_jdgmlhj_eb]bhagh_kh^_j`Zgb_Ghwlb b^_b[_jmlk\h_gZqZehg_\ ebqghf^moh\ghffbj_E_\bgZZ f_oZgbq_kdbijbibku\Zxlky_fm ibkZl_e_f< kmsghklb`_j_qvb^_lh[b^_yokZfh]hLheklh]h G_lhkgh\Zgbchlghkblvd Zdp_glmbjh\Zggufebqghklyf^Z`_]eZ\guo]_jh_\wlh]hjhfZgZ :ggZDZj_gbgZdhlhjZy\ gZb[he__ly`_euodhgnebdlguokblmZpbyobah[jZ`_gZk \_ebqZcr_c ikboheh]bq_kdhc ]em[bghc dZd ebqghklv gbq_f hkh[_ggh g_ ijbf_qZl_evgZ Wlh lbibqgZy ij_^klZ\bl_evgbpZ lh]^Zrg_c weblu dhlhjZy ^h aZjh`^_gby qm\kl\Z d <jhgkdhfm g_ \u^_ey_lky kj_^b ^jm]bo ij_^klZ\bl_evgbp k\h_c kj_^u ohly hgZ g_khfg_ggh b h[Zyl_evg__ bob [he__g_ij_dehggZ\ j_r_gbyoGZ]jhfh`^_gb_dhgnebdlh\\ `bagb:gguh[tykgy_lkyg_ hkh[_gghklyfb __ ebqghklb Z kdhj__ l_f dZd qbklh h[t_dlb\gh keh`beZkv __ km^v[Z Qlh dZkZ_lky <jhgkdh]h lh hg [ue q_eh\_dhf dhlhjuc ij_djZkgh ©\ibku\Zekyª \ ih\k_^g_\guc jblffheh^uoex^_c\ukr_]hk\_lZ<gZqZe_hgbkiulu\Z_lqm\kl\hfm`kdhc]hj^hklb\_^vhg kh[eZagbe hqZjh\Zl_evgmx `_gsbgm ^Z _s_ aZfm`gxx Iha^g__ hg ^hklZlhqgh ^hklhcgh ^_j`blk_[y\ ly`_euodhgnebdlguokblmZpbyogZdhlhju_`bagvb ^eyg_]hg_ihkdmibeZkv gh q_jlu Zdp_glmZpbb ebqghklb m g_]h lZd`_ g_ gZ[ex^Zxlky <_kvfZ lbibqgu qe_gu k_fvb DmjZ]bguo ba jhfZgZ ©<hcgZ b fbjª Dgyav <Zkbebc ² wlh yjdbc lbi k\_lkdh]h q_eh\_dZ Eh\dbc obljuc g_ [_a ^heb emdZ\kl\Z hg \ ex[hf djm]m gZsmiZ_l g_ lhevdh ijZ\bevgmx ebgbxih\_^_gbyghb h[_ki_qb\Zxsmx_fmijyfmx\u]h^mM\_j_ggZyfZg_jZ©eZ\bjh\Zlvª\ [hevrhf k\_l_ jh^gbl _]h k :gghc IZ\eh\ghc R_j_j <k_ ihfukeu kugZ dgyay <Zkbeby :gZlhey mklj_fe_gu g_ihkj_^kl\_ggh d jZ^hklyf [ulby Lheklhc hij_^_ey_l _]h dZd ©ijh`b]Zl_ey `bagbª ?]h gZau\Zxl lZd`_ ©FZ]^Zebghc fm`kdh]h iheZª dhlhjhc ©fgh]h ijhklblky b[h hgZ fgh]h ex[beZª >hqv dgyay <Zkbeby We_g ² lbi k\_lkdhc ev\bpu K\h_c djZkhlhckZfhm\_j_gghklvxb ih\_joghklghc[helh\g_chgZijbdju\Z_lkh[kl\_ggmx]emihklv LbibqgulZd`_b ^jm]b_h[jZaujhfZgZ;hjbk>jm[_pdhc²hnbp_jdZjv_jbklihk\ylb\rbc `bagvlhfmqlh[uij_mki_\ZlvgZ\h_gghckem`[_OZg`_kl\h_]hfZl_jb:gguFboZceh\gu k\yaZgh ih`Zemc k ba\_klghc bkl_jbqghklvx gh \ p_ehf hgZ \k_ `_ lbibqgZy \^h\Z ^ey dhlhjhc _^bgkl\_gguc kug klZe b _^bgkl\_gguf kfukehf `bagb =jZnbgy Jhklh\Z ² \hiehs_gb_h[jZaZfZl_jbHgZdZdilbpZjZkijhkl_jeZdjuevygZ^^_lvfbijbq_fihklhyggh iblZ_l[he__kbevgmxex[h\vd lhfmba^\mok\hbokugh\_cdhlhjuc\ ^Zggucfhf_gl[hevr_ gm`^Z_lky \ __ aZ[hlZo b khqm\kl\bb Dgy`gZ FZjvy ^hqv qm^Zdh\Zlh]h dgyay ;hedhgkdh]h hdZau\Z_lky^h\hevgh\ujZabl_evguflbihfFm`qbgugZwlmg_djZkb\mx^_\mrdm\hh[s_g_ kfhljylQlh[uaZihegblvabyxsmximklhlm`bagbhgZbs_lml_r_gby\ j_eb]bbgZ[h`ghklv __ ^hoh^bl ihjhc ^h nZgZlbafZ Ihke_ kf_jlbhlpZb k gZqZehf __ ex[\bd GbdheZx Jhklh\m FZjvy dZd ebqghklv klZgh\blky kh\_jr_ggh [_kp\_lghc HlpZ __ klZjh]h dgyay ;hedhgkdh]h [_amkeh\ghke_^h\Zeh[uhlg_klbd dZl_]hjbbyjdhZdp_glmbjh\Zgguo ebqghkl_c_keb[u_]h ih\_^_gb_g_\uoh^behaZij_^_euikbobq_kdhcghjfuKlZjucdgyavnZdlbq_kdbgZoh^blkygZ ]jZgb ly`_eh]hikbobq_kdh]h aZ[he_\Zgby gZ qlhg_h^ghdjZlgh mdZau\Z_l b kZf Lheklhc ?]h kugZdgyay:g^j_yh^gh]hba]eZ\guo]_jh_\©<hcgub fbjZªljm^ghhij_^_eblvlZddZd_]h ih\_^_gb_ gZ ijhly`_ gbb jhfZgZ g_h^ghdjZlgh f_gy_lky <gZqZe_ hg ©ohq_l keZ\uª qlh \ijhq_f ijhy\ey_lky ebrv \ keh\Zo iha^g__ dgyav gZqb gZ_l nbehkhnkl\h\Zlv \ ]em[hdh i_kkbfbklbq_kdbo lhgZo G_dh lhjh_ \j_fy hg ^mfZ_l gZ\k_]^Z hklZlvky \ ^_j_\g_ gh aZl_f m g_]h kgh\Z ijh[m`^Z_lky bgl_j_k d [hevrhc iheblbd_ KljZ^Zy hl g_\_jghklb GZlZrb hg ^_j`blk_[ykmohb kqm\kl\hfij_\hkoh^kl\ZZ fukevijhklblv__ ©oheh^ghb aehªhl\_j]Z_l <ha\jZlb\rbkv\ Zjfbxdgyav:g^j_cijb\_leb\khk\hbfbhnbp_jZfbb khe^ZlZfbghihehg g_gZ\bklbij_g_[j_`_gbyd ex^yf\ djm]mdhlhjuo\jZsZekyjZgvr_Kh\_jr_gghg_\y`_lky k _]h h[uqghc aZfdgmlhklvx b k^_j`Zgghklvx lh qlh hg i_j_^ \_ebdbf kjZ`_gb_f ijyfh djbqbl h k\hbo \a\hegh\Zgguo qm\kl\Zo ^Z`_ _]h ]hehk ijb wlhf klZgh\blky ©lhgdbf ibkdeb\ufª Dgyav :g^j_c ij_^ty\ey_l p_euc jy^ ly`_euo h[\bg_gbc \hcg_ kqblZ_l qlh d \jZ]ZfjZa\yaZ\rbfwlm\hcgmg_evayijhy\eylvjupZjkdb_qm\kl\Zqlhie_gguo[jZlv\hh[s_ g_ gZ^h Z aZo\Zq_gguo \ ie_g khe^Zl ©m[b\Zlv b b^lb gZ kf_jlvª K wlbfb Znn_dlb\gufb j_Zdpbyfbdgyay:g^j_ygZkh[ulbygZnjhgl_\h_gguo^_ckl\bcljm^ghkh]eZkm_lkylhlnZdl qlhg_aZ^he]h^hwlh]hhgijbgbfZe^_ckl\bl_evghklvkfbj_gghihdhjyykvkm^v[_Z \ky`bagv dZaZeZkv _fm [_kkfuke_gghc G_\hevgh \kihfbgZ_rv h[ hibkZgguo Dj_qf_jhf rbahb^guo ebqghklyo dhlhju_ ihklhyggh gZoh^ylky f_`^m ihexkZfb wfhpbhgZevghc oheh^ghklb b qj_af_jghcqm\kl\bl_evghklbH^gZdh_kebih^oh^blvk lZdhclhqdbaj_gbylhdgyay:g^j_y lhqgh lZd `_ dZd b _]h hlpZ klZjh]h dgyay ;hedhgkdh]h ijb^_lky hlg_klb d ex^yf k ikbobq_kdbfhldehg_gb_f< g_^_ebij_^r_kl\mxsb_kf_jlbdgyay:g^j_yhljZg_gbyfu_s_ jZa klZedb\Z_fky k wlbfb djZcghklyfb _]h ih\_^_gby hg bkiulu\Z_l [eZ`_gkl\h hl khagZgby ©ex[\bd [eb`g_fmex[\bd k\hbf\jZ]Zfªgh\ lh`_\j_fyk\hxk_kljmdhlhjZyijb_oZeZ ihegZy lj_\h]b gZ\_k lblv _]h hg \klj_qZ_l hlqm`^_ggh kfhljbl gZ g__ ©oheh^guf ihqlb \jZ`^_[guf\a]ey^hfªOheh^_ghgb dGZlZr_d dhlhjhcg_aZ^he]h^hwlh]h\gh\vmklj_fbeky [uehk ex[h\vx\ >mr_Lheklhch[tykgy_lwlmoheh^ghklvdgyay:g^j_y\k_mkbeb\Zxs_cky hlj_r_gghklvxhl`bagbLbibq_kdbfkj_^bi_jkhgZ`_c©<hcgub fbjZªy\ey_lkylZd`_h[jZa ©g_fpZª;ZjdeZy^_Lheebdhlhjucihy\ey_lkygZkljZgbpZojhfZgZg_kdhevdhjZaMihfygm\h q_ldhklbb ihke_^h\Zl_evghklbl_og_f_pdbo]_g_jZeh\dhlhju_gZoh^ylkygZkem`[_\ jmkkdhc Zjfbb Lheklhc ijb\h^bl qj_a\uqZcgh lhgdh_ \ ikboheh]bq_kdhf hlghr_gbb kjZ\g_gb_ dhlhjh_ ihdZau\Z_l qlh o\Ze_gZy g_f_pdZy hkgh\Zl_evghklv ^ey jmkkdh]h q_eh\_dZ g_ \k_]^Z ijb_fe_fZDgyav:g^j_c]h\hjblk ² ;ZjdeZc ^_ Lheeb g_ ]h^blky l_i_jv bf_ggh ihlhfm qlh hg \k_ h[^mfu\Z_l hq_gv hkgh\Zl_evghb ZddmjZlghdZdb ke_^m_l\kydhfmg_fpmDZd[ul_[_kdZaZlvGmm hlpZl\h_]h g_f_peZd_cb hgij_djZkguceZd_cb m^h\e_l\hjy_l\k_f_]hgm`^Zfemqr_l_[yb imkdZchg kem`bl gh _`_eb hl_p ijb kf_jlb [he_g lu ijh]hgbrv eZd_y b k\hbfb g_ijb\uqgufb g_eh\dbfbjmdZfbklZg_rvoh^blvaZhlphfb emqr_mkihdhbrv_]hq_fbkdmkgucghqm`hc q_eh\_d LZd b k^_eZeb k ;ZjdeZ_f IhdZ Jhkkby [ueZ a^hjh\Z _c fh] kem`blv qm`hc b [ue ij_djZkgucfbgbkljghdZdlhevdhhgZ\ hiZkghklbgm`_gk\hcjh^ghcq_eh\_d ;hevrh_ \i_qZle_gb_ ijhba\h^bl bah[jZ`_gb_ Lhekluf g_ lhevdh lbibq_kdbo i_jkhgZ`_c gh b lbibq_kdbo kblmZpbc ² \_q_jg_]h ijb_fZ \ \ukr_f k\_l_ I_l_j[mj]Z beb Fhkd\u h[_^Z \ djm]m k_fvb \_k_ehc ibjmrdb [_ki_qguo fheh^uo ex^_c kjZ`_gby kh\_sZgby hnbp_jh\ [_k_^u khe^Zl m eZ]_jgh]h dhkljZ b l i H ikboheh]baf_ Lheklh]h k\b^_l_evkl\m_llhqlhhgf_gvr_\gbfZgbym^_ey_lkZfbfkh[ulbyfq_fih\_^_gbxex^_cgZ bonhg_lhfmdZdwlbex^boh^yl`_klbdmebjmxldZdjZa]h\Zjb\Zxlf_`^mkh[hcLbibqgh\ lZdbo kblmZpbyo \hi_j\uo g_dhlhjh_ _^bghh[jZab_ ih\_^_gby ijhy\eyxs__ky gZijbf_j \ lhf qlh \k_ ^_ckl\mxsb_ ebpZ ijbgbfZxl h^bgZdh\h_ mqZklb_ \ ih\_joghklghc [helh\g_ ba mkl\ mklZi_j_^Zxlkyh^gbb l_`_kie_lgb\h\lhjuoibkZl_evjZkiheZ]Z_llml\hafh`ghklvx \u^_eblvgZh[s_fnhg_b lbibq_kdboi_jkhgZ`_cih^q_jdb\ZylbibqghklvbofZg_jj_iebd GZijbf_j \ , lhf_ ©<hcgu b fbjZª hibku\Z_lky h[oh^ njhglZ \_joh\guf ]eZ\ghdhfZg^mxsbfih\_^_gb_ijbwlhfdhfZg^bjZihedZ_]hhnbp_jh\b khe^ZlIhkmlb\k_ lZdb_ hnbpbZevgu_ \h_ggu_ h[oh^u ihoh`b ^jm] gZ ^jm]Z gbq_]h g_h[uqgh]h gh\h]h qblZl_ex Lheklhc g_ khh[sZ_l gh gbdZdhc ^jm]hc ibkZl_ev g_ fh] [u k lZdbf [e_kdhf bah[jZablv bf_ggh wlb lbibq_kdb_ ^_lZeb Gh _keb m` dlh ba ]_jh_\ jhfZgZ g_ lbibq_g Z gZijhlb\ gZkd\hav bg^b\b^mZe_g ² lZd wlh Iv_j ;_amoh\ <ijhq_f b _]h fu g_ bf__f hkgh\Zgbc jZkkfZljb\Zlv \ ieZg_ Zdp_glmZpbb ebqghklb b[h _]h ebqghklgh_ k\h_h[jZab_ ^ey Lheklh]h dm^Z f_g__ \Z`gh q_f gjZ\kl\_ggh_ hqbs_gb_ dhlhjh_ ijhbkoh^bl k gbf gZ ijhly`_gbb jhfZgZ Iv_j i_j_`b\Z_l jy^ \Z`guo \gmlj_ggbo baf_g_gbc fhlb\bjm_fuo h^gZdhg_ikboheh]bq_kdbfjZa\blb_fZ p_evxdhlhjmxij_ke_^h\ZeibkZl_evkha^Z\Zywlhl h[jZaihdZaZlvijhp_kkh[eZ]hjZ`b\Zgbyq_eh\_dZIv_j^hklb]gm\^\Z^pZlbe_lg_]h\hajZklZ ^he`_g ih^mfZlv gZdhg_p h [m^ms_f jh^_ aZgylbc gh gbq_]h \ wlhf gZijZ\e_gbb hg g_ ij_^ijbgbfZ_lkehgy_lkyihjZagufk[hjbsZfahehlhcfheh^_`biv_lmqZkl\m_l\ hlqZygguo ijh^_edZoih^kljZb\Z_l\k_\hafh`gu_dZ\_jau< k\_lkdhfh[s_kl\_hgg_mdex`g_eh\hdHg kZf k_[y oZjZdl_jbam_l dZd q_eh\_dZ [_a\hevgh]h H^gZ`^u hg ^Z_l keh\h gbdh]^Z [hevr_ g_ oh^blv \ g_dmx ©aeZqgmx dhfiZgbxª gh \ lm `_ ghqv gZjmrZ_l keh\h b lml `_ ijb^mfu\Z_l kZfhfmk_[_jZagu_hijZ\^ZgbyKb^ym ihkl_ebmf_jr_]hhgaZkuiZ_lIv_j\uau\Z_lgZ^mwev ex[h\gbdZ`_guij_^\Zjbl_evghgbq_]hg_ijh^mfZ\g_\a\_kb\²ih^\ebygb_fqbkl_cr_]h bfimevkZ< ijbiZ^d_yjhklbhgm]jh`Z_ljZafha`blv`_g_q_j_ily`_ehcfjZfhjghc^hkdhc aZl_f r\ujy_l^hkdm gZ ihe G_ljm^gh ijbclb d aZdexq_gbx qlh i_j_^ gZfb wibe_ilhb^guc ikbohiZl h[ wlhf fh`_l dZd [m^lh k\b^_l_evkl\h\Zlv b fZkkb\gh_ g_mdex`__ l_ehkeh`_gb_ Iv_jZH^gZdh\ ^Zevg_cr_fk gbfijhbkoh^ylk_jv_agu_f_lZfhjnhauB hiylvlZdbLheklhc g_ ihdZau\Z_l gZf dZdbf h[jZahf ih^ \ebygb_f dZ dbo i_j_`b\Zgbc k Iv_jhf ijhbkoh^bl ikboheh]bq_kdb ihgylgh_ i_j_jh`^_gb_ aZf_lbf qlh wibe_ilhb^gu_ lbiu \_^hfu_ k\hbfb \e_q_gbyfb \jy^ eb kihkh[gu gZ ih^h[gh_ i_j_jh`^_ gb_ Lheklhc ijbf_gy_l kh\k_f bghc f_lh^ gZ imlb d gjZ\kl\_gghfm kh\_jr_gkl\h\Zgbx m Iv_jZ h[gZjm`b\Zxlky kh\k_f gh\u_ q_jluebqghklbB ebrv^h[jhk_j^_qb_ijbkms__Iv_jmk kZfh]hgZqZeZkhojZgy_lkydZd_]h oZjZdl_jgZy bg^b\b^mZevgZy hkh[_gghklv >h[jhlZ ² _^bgkl\_ggh_ \ q_f hg hklZ_lky \_j_g k_[_^hdhgpZ< fZkhgkdhceh`_Iv_jgZqbgZ_lnZgZlbq_kdb [hjhlvky aZ ih[_^m ^h[jh^_l_eb gZ^ ihjhdhf aZ gjZ\kl\_ggh_ \ha\ur_gb_ jh^Z q_eh\_q_kdh]h J_eb]bhagh_ gZqZeh \ _]h ih\_^_gbb ijhklm iZ_l l_i_jv _s_ yjq_ hg qm\kl\m_l k_[y ]j_rgbdhf b ibr_l ^g_\gbd bah[bemxsbc h[jZs_gbyfb dh \k_\urg_fm b pblZlZfb ba [b[ebb A^_kv y iheZ]Zx g_p_e_khh[jZagh gZihfbgZlv h lhf qlh fgh]b_ [hevgu_ wibe_ikb_c gh g_ wibe_ilhb^u hlebqZxlkyj_eb]bhaghklvxDjhf_lh]hm wibe_ilbdh\hlf_qZ_lkyj_eb]bhaghklvqbklhc\h^u m Iv_jZ `_ gZ[ex^Z_lky [hevrZy ijbf_kv ihdZyggh]h gZqZeZ <kdhj_ Iv_j hloh^bl hl j_eb]bhaghc kn_ju gZqbgZ_lky i_jbh^ \hafms_gby e`b\hklvx ex^_c b ebp_f_jghklvx h[s_kl\_gguokbkl_fHlkx^Z²ijyfhcimlvd jZafure_gbyfgZ^kfukehf`bagb<hagbdZ_l `_eZgb_ihgylv\hcgmdZdh[s_kl\_ggh_y\e_gb_Kj_^bnjhglh\bdh\hgij_[u\Z_l\ rlZlkdhc h^_`^_ hgb kfhljyl gZ g_]h k djZcgbf bamfe_gb_f Bgl_j_k Iv_jZ h[hkljy_lky \h \j_fy kjZ`_gby Hg \gbfZl_evgh bgh]^Z k meu[dhc ke_^bl aZ kh[ulbyfb ^Z`_ lh]^Z dh]^Z \hdjm] g_]h ih^ j\msbfbky imr_qgufb kgZjy^Zfb ]b[gml ex^b Qm\kl\h kljZoZ _fm \ wlb fhf_glu \b^bfhkh\_jr_gghqm`^hGh\hlkh\_jr_ggh\g_aZigh hg©h[_amf_\hlkljZoZª[_`blih ihex [hy Dh]^Z njZgpmau gZqbgZxl ijb[eb`Zlvky d Fhkd\_ Iv_j g_ \ kbeZo jZah[jZlvky \ h[jmrb\r_ckygZg_]heZ\bg_fuke_cb qm\kl\< khklhygbbdjZcg_]h\ha[m`^_gby[ebadbcd ihf_rZl_evkl\m dZd ih^q_jdb\Z_l kZf Lheklhc Iv_j ijbgbfZ_l j_r_gb_ m[blv GZihe_hgZ <kdhj_ Iv_j ihiZ^Z_l \ ie_g Ihke_ wlh]h hg \ugm`^_g ijhclb \f_kl_ k njZgpmaZfb qZklv m`ZkZxs_]h imlb bo hlklmie_gby b \hl lmllh b ijhbkoh^bl _]h hdhgqZl_evgh_ hqbs_gb_ dhlhjh_ ijb \h^bl _]h ©d \_j_ \ `b\h]h \k_]^Z hsmsZ_fh]h [h]Zª L_i_jv hg [hevr_ g_ jZkkm`^Z_lZ lhevdh\_jblk Ij_`^_jZajmrZ\rbc\k__]hmfkl\_ggu_ihkljhcdbkljZrguc\hijhkaZq_f"l_i_jv^ey g_]h g_ kms_kl\h\Ze L_i_jv gZ wlhl \hijhk ² aZq_f" \ ^mr_ _]h \k_]^Z ]hlh\ [ue ijhklhc hl\_laZl_fqlh_klv[h]lhl[h][_a\hebdhlhjh]hg_kiZ^Z_l\hehkk ]heh\uq_eh\_dZ Ihke_©hqbs_gbyªIv_jdZdebqghklvklZgh\blky[_kp\_lguf< wibeh]_jhfZgZhg]eZ\Z iZljbZjoZevghc k_fvb ihevam_lky \k_h[sbf m\Z`_gb_f b gZoh^blky ih^ [ZrfZdhf m `_gu IjZ\^Zdjhf_k_fvb\ _]h`bagbkms_kl\mxl_s_b p_ebb^_cgh]hoZjZdl_jZh^gZdhbaf_g_gbc \ kljmdlmjm_]hebqghklbhgbg_\ghkyl< hqbs_gbbIv_jZ\ _]hojbklbZgkdhfijhk\_le_gbb m^Z_lky jZkihagZlv q_jlu dhlhju_ g_dhlhjh_ \j_fy kimkly ijhy\bebkv m kZfh]h Lheklh]h < ebp_ Iv_jZ ibkZl_ev [_amkeh\gh ohl_e ihdZaZlv g_ k\h_h[jZaghklv ebqghklb Z ij_^klZ\blv wlZiu w\hexpbb kh[kl\_ggh]h fbjh\haaj_gby Ih^l\_j`^_gb_f wlhc fukeb fh`_l kem`blv b \lhjZyqZklvwibeh]ZjhfZgZLheklhchlh^\b]Z_l\ klhjhgm\k_ok\hboebl_jZlmjguo]_jh_\b gZijhly`_gbbkljZgbplhevdhbaeZ]Z_lk\hbnbehkhnkdb_b gZmqghbklhjbq_kdb_\a]ey^uK ih^h[gufih^oh^hffum`_klZedb\ZebkvijbhibkZgbb E_\bgZ\ ©:gg_DZj_gbghcªH^gZdh \k_ nbehkhnkdb_ jZkkm`^_gby jhfZgbklZ f_jdgml i_j_^ ikboheh]bq_kdbf agZq_gb_f _]h l\hjq_kl\Z JZamf__lky wlh ikboheh]bq_kdh_ agZq_gb_ g_evay k\h^blv d yjdhfm bah[jZ`_gbx lbibq_kdh]h Bklbggh]h ikboheh]bq_kdh]h \_ebqby ibkZl_ev ^hklb]Z_l lh]^Z dh]^Z hg ijhgbdZ_l \ ]em[bgu ^mr_\guo ^\b`_gbc ]_jh_\ jZkdju\Z_l \aZbfhk\yab f_`^m ^\b`msbfb kbeZfb b bah[jZ`Z_l bo k lhgdhklvx dhlhjZy ^Z_lky lhevdh \_ebdhfm om^h`gbdm <kihfgbf dZd `b\h \hkijbgbfZ_f fu ly`_eu_ ^mr_\gu_ ihljyk_gby \uiZ\rb_ gZ ^hex :ggu DZj_gbghc< dZq_kl\_ijbf_jh\fh`ghijb\_klbhq_gvkbevgmxkp_gm\klj_qb:gguk kughf K_j_`_chibkZgb_^mr_\gh]hkhklhygbyIv_jZihke_^mwebk >hehoh\ufihljykZ_lhibkZgb_ ^mr_\gh]hkhklhygbyJhklh\Zihke__]hdjmigh]hijhb]jurZ: \hl_s_ijbf_j[ulvfh`_lg_ klhevdh]em[bguikboheh]bq_kdh]hijhgbdgh\_gbykdhevdhqj_a\uqZcghclhgdhklb_]hy bf_x \ \b^mhibkZgb_lh]hdZdIv_j\k_[hevr_\ex[eyykv\ We_gklZgh\blkyg_kihkh[gufm\b^_lv __ ]emihklvIZjZee_evxfh`_lkem`blv\ex[e_gghklvGZlZrb\ djZkZ\pZ:gZlheyohlyhgZb h[jmq_gZk dgya_f:g^j__fHkh[_gghijZ\^b\hhibku\Z_lLheklhckhklhygb_dgy`guFZjvb\ ^gb dh]^Z __ hl_p ijb kf_jlb Bkdj_ggyy ex[h\v d hlpm dhlhjZy g_kfhljy gZ _]h lbjZgbx \k_]^Z`beZ\ __^mr_g_fh]eZih^Z\blv©[_kh\kdh]h`_eZgbyªqlh[uihkdhj__gZklZedhg_p Ihke_wlh]hh[uqghke_^h\Zebm`Zkgu_m]jua_gbykh\_klbLZdb_qm\kl\Zkf_gyeb^jm]^jm]Z ihdZ kf_jlv hlpZ g_ iheh`beZ dhg_p klhev fmqbl_evghfm khklhygbx < hibkZgbb [_kkbeby ebqghklb i_j_^ ZlZdZfb ijhlb\hj_qb\uo qm\kl\ yjdh \ujZ`_gZ ]em[bgZ ikboheh]bq_kdhc ijZ\^uLheklhck hkh[hchkljhlhcijhgbdZ_l\ lhqlhg_ijhy\ey_lkygZih\_joghklb\ lhqlh ex^bhohlg__\k_]hkdjueb[u\h\k_ Ijb\_^m ijbf_j ba ©:ggu DZj_gbghcª GbdheZc E_\bg mfbjZ_lH[s__fg_gb_hdjm`Zxsboqlhex[ysbc[jZlDhgklZglbgihehgkhkljZ^Zgbyd g_fm qlh hg ih]jm`_g \ jZafure_gby h lZbgkl\_ kf_jlb G_dhlhjh_ \j_fy lZd hgh b [ueh Gh gZ ^ebl_evguci_jbh^\j_f_gbq_eh\_dZg_o\ZlZ_lgZih^h[gh_khkljZ^Zgb_g_aZ\bkbfhhllh]h ieho hg beb ohjhr KhkljZ^Zgb_ d ^jm]hfm ^Z`_ m kZfuo emqrbo ex^_c ihkl_i_ggh \ul_kgy_lkyih\k_^g_\gufb^_eZfbb aZ[hlZfbkm]m[hw]hbklbq_kdh]hieZgZk K jmdhc f_jl\_pZ \ k\h_c jmd_ hg kb^_e iheqZkZ qZk _s_ qZk Hg l_i_jv m`_ \h\k_ g_ ^mfZeh kf_jlbHg^mfZeh lhfqlh^_eZ_lDblbdlh`b\_l\ khk_^g_fghf_j_k\hbeb^hfm ^hdlhjZ?fmaZohl_ehkv_klvb kiZlvHghklhjh`gh\uijhklZejmdmb hsmiZegh]bGh]b[ueb oheh^gu gh [hevghc ^urZe E_\bg hiylv gZ puihqdZo ohl_e \uclb gh [hevghc hiylv aZr_\_ebekyb kdZaZe² G_moh^b E_\bg ^_ckl\bl_evgh ex[be k\h_]h [jZlZ g_kqZklv_ ihklb]r__ GbdheZy [ueh ^ey g_]h [hevrbf ]hj_f Gh dh]^Z _fm ijb rehkv qZkZfb ijhkb`b\Zlv m ihkl_eb mfbjZxs_]h lh ihy\bebkvfukebdZ`msb_kydjZcg_g_mf_klgufb\ k\yabk qv_clh[ebadhckf_jlvxb \k_`_ \iheg_ _kl_kl\_ggu_ ^ey q_eh\_dZ Lheklhc gbq_]h g_ ijbmdjZrb\Z_l b g_ kdju\Z_l hg hldju\Z_lgZfdZd[ulj_i_l^mrbq_eh\_dZbgl_j_kmxsbcibkZl_eyih`Zemc[hevr_q_flhl bebbghclbiebqghklbk <k_h^gh]hlhevdh`_eZebqlh[uhgdZdfh`ghkdhj__mf_jb \k_kdju\Zywlh^Z\Zeb_fm bakdeygdbe_dZjkl\ZbkdZebe_dZjkl\^hdlhjh\b h[fZgu\Zeb_]hb k_[yb ^jm]^jm]Z Lheklhfm ba\_klgu l_ ijhp_kku dhlhju_ ijhbkoh^yl m ihjh]Z khagZgby lZd dZd q_eh\_d ba[_]Z_l ijhimkdZlv bo q_j_a khagZgb_ qZs_ \k_]h ba g_`_eZgby beb [hyagb gZg_klb m^Zj ih kZfhm\Z`_gbx< wlhfkfuke_bkdexqbl_evghkbevgh_\i_qZle_gb_ijhba\h^blh^bgfhf_gl\ jhfZg_ ©<hcgZ b fbjª DZjZlZ_\ b Iv_j ;_amoh\ ihiZeb \ ie_g d njZgpmaZf b ©hlklmiZxlª \f_kl_ k \jZ]hf ?keb dlheb[h ba bklhs_gguo jmkkdbo g_ \ kbeZo ^\b]Zlvky ^Ze__ _]h ijbklj_eb\Zxlk DZjZlZ_\ kfhlj_e gZ Iv_jZ k\hbfb ^h[jufb djm]eufb ]eZaZfb ih^_jgmlufb l_i_jv ke_ahxb\b^bfhih^au\Ze_]hd k_[_ohl_ekdZaZlvqlhlhGhIv_jmkebrdhfkljZrgh[ueh aZk_[yHgk^_eZelZddZd[m^lhg_\b^_e_]h\a]ey^Zb ihki_rghhlhr_eDh]^Zie_ggu_hiylv ljhgmebkvIv_jh]eygmekygZaZ^DZjZlZ_\kb^_egZdjZx^hjh]bm [_j_aub ^\ZnjZgpmaZqlh lh ]h\hjbeb gZ^ gbf Iv_j g_ h]ey^u\Zeky [hevr_ Hg r_e ijbojZfu\Zy \ ]hjm KaZ^b lh]h f_klZ]^_kb^_eDZjZlZ_\ihkeurZeky\uklj_eIv_jkeurZey\kl\_gghwlhl\uklj_egh\ lh `_f]gh\_gb_dZdhgkeuoZe_]hIv_j\kihfgbeqlhhgg_dhgqbe_s_gZqZlh_i_j_^ijh_a^hf fZjrZeZ \uqbke_gb_ \ lhf kdhevdh i_j_oh^h\ hklZ\Zehkv ^h Kfhe_gkdZ B hg hiylv klZe kqblZlv >\Z njZgpmakdb_ khe^ZlZ ba dhlhjuo h^bg ^_j`Ze \ jmd_ kgylh_ ^ufys__ky jm`v_ ijh[_`Zeb fbfh Iv_jZ Hgb h[Z [ueb [e_^gu b \ \ujZ`_gbb bo ebp ² h^bg ba gbo jh[dh \a]eygmegZIv_jZ²[uehqlhlhihoh`__gZlhqlhhg\b^_e\ fheh^hfkhe^Zl_gZdZagbIv_j ihkfhlj_e gZ khe^ZlZ b \kihfgbe h lhf dZd wlhl khe^Zl lj_lv_]h ^gy k`_] \ukmrb\Zy gZ dhklj_k\hxjm[Zomb dZdkf_yebkvgZ^gbf Kh[ZdZ aZ\ueZ kaZ^b k lh]h f_klZ ]^_ kb^_e DZjZlZ_\ ©WdZy ^mjZ h q_f hgZ \h_lª ih^mfZe Iv_j <]ey^_\rbkv [eb`_ Iv_j magZe ebeh\mx kh[Zqhgdm dhlhjZy \beyy o\hklhf kb^_eZih^e_khe^ZlZ²:ijbreZ"²kdZaZeIv_j²:IeZ²gZqZehgb g_^h]h\hjbe< _]h \hh[jZ`_gbb \^jm] h^gh\j_f_ggh k\yau\Zykv f_`^m kh[hc \hagbdeh \hkihfbgZgb_ h \a]ey^_ dhlhjuf kfhlj_e gZ g_]h IeZlhg kb^y ih^ ^_j_\hf h \uklj_e_ keurZgghf gZ lhf f_kl_ h \h_ kh[Zdb h ij_klmiguo ebpZo ^\mo njZgpmah\ ijh[_`Z\rbo fbfh _]h h kgylhf ^ufys_fky jm`v_ h[ hlkmlkl\bb DZjZlZ_\Z gZ wlhf ijb\Ze_ b hg ]hlh\ m`_ [ue ihgylv qlh DZjZlZ_\ m[bl gh \ lh `_ f]gh\_gb_ \ _]h ^mr_ \ay\rbkv [h] agZ_l hldm^Z \hagbdeh \hkihfbgZgb_h \_q_j_ijh\_^_gghfbfk djZkZ\bp_cihevdhce_lhfgZ[Zedhg__]hdb_\kdh]h ^hfZ Bf_gghlZddZdwlhhibkZghLheklufex^bklZjZxlkyijh]gZlvaZ^mrblv\ k_[_fukeb dhlhju_bfq_j_kqmjg_ijbylguH[eZ^Zykihkh[ghklvxnbdkbjh\ZlvihemhkhagZggu_j_Zdpbb Lheklhcih^f_lbeqlhqm\kl\Zq_eh\_dZqZklh\hagbdZxljZgvr_q_ffukebb ij_^klZ\e_gbyk gbfb k\yaZggu_ OZjZdl_j_g ke_^mxsbc ijbf_j ba ©<hcgu b fbjZª Iv_j g_ magZ_l GZlZrm dhlhjmx hg m\b^_e \gh\v \ ^hf_ m dgy`gu FZjvb hgZ hq_gv baf_gbeZkv [ueZ \ q_jghf ljZmjghfieZlv_Djhf_lh]hhggbdZdg_h`b^Zem\b^_lv__ \wlhf^hf_B \k_`_[_]euc\ahj dhlhjuchg[jhkbegZg__ijh[m`^Z_l_]hqm\kl\hk Hg \a]eygme jZa gZ ebph dhfiZgvhgdb m\b^Ze \gbfZl_evgh eZkdh\uc ex [hiulguc \a]ey^ mklj_fe_gguc gZ g_]h b dZd wlh qZklh [u\Z_l \h \j_fy jZa ]h\hjZ hg ihq_fmlh ihqm\kl\h\Ze qlh wlZ dhfiZgvhgdZ \ q_jghf ieZlv_ ² fbeh_ ^h[jh_ keZ\gh_ kms_kl\h dhlhjh_g_ihf_rZ_l_]haZ^mr_\ghfmjZa]h\hjmk dgy`ghcFZjv_c GZdhg_pLheklhfmhlebqghba\_klghb lhgZkdhevdhkZfu_]em[hdb_q_eh\_q_kdb_qm\kl\Z aZ\bkyl hl ijb\uqdb Hibku\Zy kljZrgu_ kljZ^Zgby dhlhju_ ^h\_ehkv i_j_g_klb Iv_jm \h \j_fyhlklmie_gbyLheklhcaZf_qZ_lk HgmagZeqlh_klv]jZgbpZkljZ^Zgbcb ]jZgbpZk\h[h^ub qlhwlZ]jZgbpZhq_gv[ebadZ qlh lhl q_eh\_d dhlhjuc kljZ^Ze hl lh]h qlh \ jhah\hc ihkl_eb _]h aZ\_jgmeky h^bg ebklhd lhqgh lZd `_ kljZ^Ze dZd kljZ^Ze hg l_i_jv aZkuiZy gZ ]hehc kujhc a_fe_ hklm`Zy h^gm klhjhgm b kh]j_\Zy ^jm]mx qlh dh]^Z hg [u\Zeh gZ^_\Ze k\hb [Zevgu_ madb_ [ZrfZdb hg lhqgh lZd `_ kljZ^Ze dZd b l_i_jv dh]^Z hg r_e m`_ kh\k_f [hkhc h[m\v _]h ^Z\gh jZklj_iZeZkvgh]Zfbihdjulufb[heyqdZfb HibkZgb_ dhgdj_lguo nZdlh\ k\yaZgguo k hlklmie_gb_f njZgpmah\ ijb lZdhc fZg_j_ baeh`_gbyih`Zemcl_jy_lky\ ^_lZeyoGh^eyLheklh]h\Z`g__ikboheh]bq_kdbihdZaZlvlh qlh kljZ^Zgby b jZ^hklb q_eh\_dZ hlghkbl_evgu b \k_]^Z aZ\bkyl hl bkoh^ghc lhqdb Ijb [eZ]hihemqbb jZ^hklv q_eh\_dm ijbgh kbl ebrv lh qlh emqr_ kms_kl\mxs_]h \ ]hj_ k dhlhjuf q_eh\_d k\udky kljZ^Zgb_ \hagbdZ_l ebrv \ lhf kemqZ_ _keb gZ g_]h h[jmrb\Z_lky g_qlh _s_ [he__ ly`_eh_ JZa[bjZy klhev ih^jh[gh g_dhlhju_ fhf_glu ba ijhba\_^_gbc Lheklh]h y ohl_e gZ]ey^gh ijhbeexkljbjh\Zlv qlh ibkZl_eb fh]ml [ulv \_ebdbfb ikboheh]Zfbg_aZ\bkbfhhllh]hbah[jZ`Zxlebhgb\ k\hboijhba\_^_gbyoZdp_glmbjh\Zgguo ebqghkl_c BG>B<B>M:EVGHKLV< OM>H@?KL<?GGHCEBL?J:LMJ? G_dhlhju_ q_jlu ebqghklb g_ y\eyykv Zdp_glmbjh\Zggufb \k_ `_ hlebqZxlky \ ieZg_ bg^b\b^mZevghf \ lZdbo kemqZyo gZ[ex^Zxlky \ZjbZpbb jZaebqguo j_Zdpbc q_eh\_dZ LZdb_ bg^b\b^mZevgu_ \ZjbZpbb j_Zdpbc fg_ g_ m^Zehkv ijhbeexkljbjh\Zlv gZ debgbq_kdhf fZl_jbZe_ h^gZdh y jZkiheZ]Zx \hafh`ghklvx ijhZgZebabjh\Zlv bo m g_dhlhjuo i_jkhgZ`_c om^h`_kl\_gguoijhba\_^_gbc Bg^b\b^mZevgu_hkh[_gghklb\ kn_j_\e_q_gbc < nhjfbjh\Zgbb kljmdlmju ebqghklb q_eh\_dZ fh]ml mqZkl\h \Zlv b \k_\hafh`gu_ \e_q_gby LZd ijb h[`hjkl\_ ihfukeu q_eh\_dZ ihklhyggh mklj_fe_gu d m^h\e_l\hj_gbx g_gZkulgh]hZii_lblZkhhl\_lkl\_gghk wlbfkdeZ^u\Z_lky\_kv_]hh[jZa`bagbG_ih^e_`bl khfg_gbx qlh kj_^b iheguo ex^_c _klv g_fZeh lZdbo dhlhju_ hlebqZxlky g_gZkulghklvx Fgh]b_ ba gbo f_^ebl_evgu \ ^_ckl\byo b ihklmidZo h gbo qZklh ]h\hjyl ©ly`_euc gZ ih^t_fª <hagbdZ_l ihjhqguc djm] iheghlZ h]jZgbqb\Z_l Zdlb\ghklv q_eh\_dZ b dZd ke_^kl\b_ gZ i_j_^gbc ieZg \uklmiZxl ijbfblb\gu_ l_e_kgu_ ihlj_[ghklb <kihfbgZxlky keh\ZP_aZjyba^jZfuR_dkibjZ ² Imklv y [m^m hdjm`_g fm`qbgZfb iehlgh]h l_ehkeh`_gby b k ihegufb ebpZfb dhlhju_ohjhrhkiylihghqZf >he`_g aZf_lblv qlh \e_q_gbyfb wlh]h jh^Z y g_ aZgbfZxkv lZd dZd bamq_gb_ Zdp_glmbjh\Zgguo q_jl ebqghklb g_ k\yaZgh k ZgZebahf dZq_kl\ bf_xsbo \ hkgh\ghf nbabheh]bq_kdb_ ijhy\e_gby K_dkmZevgu_ \e_q_gby lZd`_ fh]ml hdZau\Zlv \ebygb_ gZ h[jZa `bagb \ p_ehf Ijb [hevrhc kbe_ wlbo \e_q_gbc q_eh\_d \b^bl ]eZ\guc kfuke `bagb \ bo m^h\e_l\hj_gbb IjZ\^Z a^_kv k_dkmZevguc bgklbgdl b]jZ_l [he__ agZqbl_evgmx jhev q_f \e_q_gb_?kebk_dkmZevgucbgklbgdlqj_af_j_glhhgfh`_l\uclbb aZij_^_eukn_juqbklh k_dkmZevghc @_gsbgZ ho\Zq_ggZy k_dkmZevguf \e_q_gb_f k lZdhc kbehc dZd gZijbf_j D_lo_gnhgOZcev[jhgbah^ghbf_gghc^jZfuDe_cklZklZgh\blkyjZ[hcfm`qbgu=jZnnhg Rlj_ev h[jZsZ_lky k g_x bgh]^Z [md\Zevgh dZd k kh[Zdhc Ijb lZdhf iheh`_gbb \iheg_ ghjfZevgZy mfgZy `_gsbgZ gZqbgZ_l \h \k_f [_ah]h\hjhqgh ihdhjylvky fm`qbg_ b \ [ulm JupZjv FbjZdey EmafZg h[eZ^Zxsbc bgklbgdlhf `_gsbgu b ©ij_^eZ]Zxsbcª k_[y `_eZxsbf dZd `_gsbgZ fu _s_ \klj_lbfky k gbf \ ]eZ\_ h[ bkl_jbdZo g_hibkm_fh ls_keZ\_g iZl_lbq_kdbfb keh\Zfb hg jZko\Zeb\Z_l k\h_ djZkb\h_ l_eh ]eZ\gh_ ^ey g_]h aZdexqZ_lky \ lhf qlh[u wlh djZkb\h_ l_eh [ueh h^_lh lZd ©dZd _fm ih^h[Z_lª KZfuf kbevguf q_eh\_q_kdbf \e_q_gb_f ke_^m_l kqblZlv ©`Z`^m i_j_`b\Zgbcª Hl wlh]h \e_q_gby aZ\bkbl kl_i_gv Zdlb\ghklb k dhlhjhc q_eh\_d bkihevam_l \hafh`ghklb ij_^eZ]Z_fu_ _fm `bagvxK h^ghcklhjhgufuklZedb\Z_fkyk ihbkdhfi_j_`b\Zgbcm g_h^hebfhklj_fys_]hky d gbf q_eh\_dZ k ^jm]hc klhjhgu ² k lmihc m^h\e_l\hj_gghklvx ijbfblb\ghc [ulh\hc ih\k_^g_\ghklvx F_gy ohjhrh ihcfml _keb y ^ey jZkdjulby ihgylby ©`Z`^Z i_j_`b\Zgbcª ijb\_^m agZf_gbluc deZkkbq_kdbc h[jZa_p < ©=hkih`_ ;h\Zjbª Neh[_j ihdZau\Z_l dZd q_eh\_d dhlhjuc ^hoh^bl iheh`bl_evgh ^h ]heh\hdjm`_gby baaZ \_qgh]h ©]heh^Z ih i_j_`b\Zgbyfªfh`_lih^qbgblvwlhfm\_kvk\hch[jZa`bagbb[h\k__]hqm\kl\Zb ihfukeu mklj_fe_gu d h^ghc p_eb ?s_ j_[_gdhf WffZ bkiulu\Z_l ihlj_[ghklv i_j_`blv qlhlh agZqbl_evgh_ hkh[_ggh_ ij_djZkgh_ Dh]^Z __ hl^Zxl mqblvky \ rdhem ijb fhgZkluj_ hgZ kgZqZeZ \b^bl fgh]h gh\h]h b bkiulu\Z_l m^h\e_l\hj_gb_ Gh \kdhj_ m g__ jZa\b\Z_lky ijbkljZklb_d k_gkZpbhggufjhfZgZfk² LZf lhevdh b [ueh qlh ex[h\v ex[h\gbdb ex[h\gbpu ij_ke_^m_fu_ ^Zfu iZ^Zxsb_ [_a qm\kl\Z \ m_^bg_gguo [_k_^dZo ihqlZevhgu dhlhjuo m[b\Zxl gZ \k_o klZgpbyo ehrZ^b dhlhjuo aZ]hgyxl gZ dZ`^hc kljZgbp_ l_fgu_ e_kZ k_j^_qgh_ kfyl_gb_ deyl\u ju^Zgby ke_au b ihp_emb q_eghdb ijb emgghf k\_l_ kheh\vb \ jhsZo dZ\Ze_ju ojZ[ju_ dZd ev\u b djhldb_dZdy]gylZ^h[jh^_l_evgu_k\_jo\kydhcf_ju\k_]^ZdjZkb\hh^_lu_b we_]bqgu_dZd dZdZygb[m^vieZdmqZyb\Z²a^_kvfh`ghgZclb\k_q_]h`Z`^ZeZk_ ^mrZ G_kfhljy gZ gZebqb_ klhev kbevguo \ha[m`^Zxsbo wfhpbb kj_^kl\ Wff_ \ fhgZkluj_ klZgh\blky\k_kdmqg__ghh[klZgh\dZ^hfZ_c_s_f_g__ih^mr_k <_jgm\rbkv ^hfhc WffZ k m^h\hevk]\b_f gZqZeZ dhfZg^h\Zlv kem]Zfb gh kdhjh ijh\bgpbygZ^h_eZ_cb hgZklZeZkdmqZlvihfhgZklujx < [jZd_^ey]hkih`b;h\Zjblh`_\k_ij_^klZ\ey_lkykebrdhfij_kgufk² <hafh`gh qlh \ g_dhlhjuo m]hedZo a_feb kqZklv_ \hagbdZ_l kZfh kh[hx ² ^mfZehkv Wff_ ² ih^h[gh lhfm dZd bgu_ jZkl_gby lj_[mxl ba\_klghc ihq\u iehoh ijbgbfZykv gZ \kydhc^jm]hcIhq_fmg_fh]eZhgZh[ehdhlblvkygZi_jbeZ[ZedhgZr\_cpZjkdh]h^hfbdZbeb aZdexqblvk\hxi_qZev\ rhleZg^kdhfdhll_^`_mdjulvkylZf\f_kl_k fm`_fb qlh[ugZg_f [ueq_jgucdZfahek ^ebggufbnZe^Zfbfy]db_kZih`dbhkljhdhg_qgZyreyiZb djm`_\gu_ fZg`_lu H^gZdhgZijZkguf_qluh kqZklv_jZahqZjh\Zgb_\k_mkbeb\Z_lkyk² FukebWffukgZqZeZ[ueb[_kij_^f_lgup_ieyebkvaZkemqZcgh_Ihlhfhgbihg_fgh]m ijhykgbebkvbkb^ygZa_fe_WffZih\lhjyeZlbohgvdh\hjhrZljZ\mahglbdhf²;h`_fhc AZq_fy \ureZaZfm`Kms_kl\h\Zgb___ oheh^ghdZdq_j^Zd\uoh^ysbchdhrdhfgZk_\_jZ kdmdZdZdfheqZeb\uciZmdie_l_l\ l_gbk\hxk_lvih\k_fm]hedZf__ k_j^pZ ;m^mqbijb]eZr_gZd g_dh_fmfZjdbam`b\ms_fmih[ebahklbWffZihiZ^Z_l\ k\_lkdh_ h[s_kl\h K wlbo ihj hgZ gZoh^blky \ ie_gm f_qlu lhkdm_l k `blv \ k\_lkdhf djm]m b ihklhygghgh\ ]em[bg_^mrbhgZ`^ZeZdZdh]hlhkh[ulbyIh^h[ghfZljhkmgZihl_ji_\r_f djmr_gb_dhjZ[e_hgZ\ hlqZygbbh]ey^u\ZeZimklugxk\h_c`bagbb bkdZeZ[_eh]hiZjmkZ\ lmfZgZo^Zevg_]h]hjbahglZHgZg_agZeZdZdhcwlh[m^_lkemqZcdZdhc\_l_jijb]hlh\bl_]hd dZdhfm[_j_]mhg__ mg_k_lhgZg_agZeZ[m^_leblhrexidZbeblj_oiZem[gucdhjZ[ev[m^_l ebhggZ]jm`_gkljZ^Zgbyfbbeb^hkZfuoexdh\ihehgjZ^hkl_cGhijhkuiZykvihmljZfhgZ \kydbc jZa gZ^_yeZkv qlh wlh kemqblky \ lhl`_ ^_gv ² b ijbkemrb\ZeZkv dh \k_f rhjhoZf \kdZdb\ZeZk f_klZm^b\eyeZkvqlh\k__s_gbq_]hg_l: dh]^ZaZoh^behkhegp_hgZ]jmklbeZb `_eZeZ qlh[u ihkdhj__ gZklmibe ke_^mxsbc ^_gv WffZ ih^gbfZeZkv \ k\hx dhfgZlm aZibjZeZ^\_jvgZqbgZeZ\hjhrblvm]eb\ dZfbg_bkeZ[_yhl`Zjuqm\kl\h\ZeZdZdly`_e__l ]g_lmsZykdmdZGhhkh[_gghg_\ughkbfh[ueh\h\j_fyh[_^Z\gbam\ djhohlghcklheh\hck \_qgh ^ufys_c i_qvx b kdjbimq_c ^\_jvx k ijhfha]eufb kl_gZfb b \eZ`guf hl kujhklb ihehfWff_dZaZehkvqlh_cih^ZxlgZlZj_ed_\kx]hj_qvkms_kl\h\Zgbyb dh]^Zhl\Zj_ghc ]h\y^bgu r_e iZj hl\jZs_gb_ dem[Zfb ih^ufZehkv \ __ ^mr_ RZjev _e ^he]h hgZ ]juaeZ hj_rdbbebh[ehdhlb\rbkvgZklhehlkdmdbpZjZiZeZgh`hfde__gqZlmxkdZl_jlv Qm\kl\my k\hx \bgm ]hkih`Z ;h\Zjb klZjZ_lky k^_j`b\Zlv k_[y ijb fm`_ dhlhjh]h ij_abjZ_lghbgh]^ZhgZ\k_`_g_\ kbeZokh[hc\eZ^_lvk HgZ i_j_ghkbeZ gZ g_]h \kx g_gZ\bklv \hagbdZ\rmx gZ ihq\_ g_\ughkbfhc kdmdb Z ihiuldb [hjhlvky _s_ mkm]m[eyeb g_gZ\bklv b[h baaZ [_kieh^guo ihiulhd hlqZygb_ \hajZklZehb \k_[hevr_hl^Zeyeh__ hlRZjey Hdjm`_ggZyh^gbfbebrv[m^gyfbfmqbfZy[_kdhg_qghckdmdhcWffZijboh^bl\ dhgp_ dhgph\ d wdkp_kkZf \ ih\_^_gbb ?_ ebqghklv bkiulu\Z_l kh[kl\_ggh h[uqgu_ lhjfh`_gby WffZ hdZau\Z_lky g_khklhyl_evghc g_ \ j_amevlZl_ keZ[hklb Z ih^ \ebygb_f kbevguo \gmlj_ggbo`_eZgbcb ihlj_[ghkl_cdhlhju_dZd[u©i_j_jZklZxlªwlmebqghklvh[eZ^Zxsmx kj_^g_c kbehc \heb J_qv b^_l \ i_j\mx hq_j_^v h k_dkmZevguo i_j_`b\Zgbyo Djhf_ wlh]h ]hkih`Z ;h\Zjb h[eZ^Z_l lZdbf ihjhdhf dZd jZklhqbl_evghklv hgZ [_am^_j`gZ \ jZkoh^Zo gZdmiZ_l djZkb\mx f_[_ev ^hjh]b_ dh\ju jhkdhrgu_ gZjy^u ² \k_ wlh ^ey lh]h qlh[u kha^Zlv beexabx ij_[u\Zgby \ [h]Zlhf mlhgq_gghf hdjm`_gbb Ex[h\gu_ ijbdexq_gby hkh[_gghmlheyxl`Z`^mhkljuoi_j_`b\ZgbcLZd[uehb mWffuH^gZdh\ dhg_qghfblh]_d ]b[_eb __ ijb\h^yl g_ wlb wdkp_kku Z nbgZgkh\u_ aZljm^g_gby G_khfg_ggh ibkZl_ev hibku\Zy i_j_`b\Zgby Wffu g_kdhevdh k]msZ_l djZkdb gh g_kfhljy gZ wlh ^Z_l ij_^klZ\e_gb_\ dZdhcf_j_g_mlhe_ggZy`Z`^Zi_j_`b\Zgbch[hjZqb\ZxsZykyg_\ughkbfhc kdmdhcfh`_l\ha^_ckl\h\ZlvgZih\_^_gb_q_eh\_dZ?keb[ulZdh_k\h_h[jZab_ebqghklbdZd m Wffu;h\Zjb\klj_qZehkvqZs_b [uehlZd`_yjdh\ujZ`_ghdZdm g__lhfh`gh[ueh[u lZdbo ©`Z`^msbo i_j_`b\Zgbcª ex^_c hlg_klb d Zdp_glmbjh\Zgguf ebqghklyf H^gZdh \ ^_ckl\bl_evghc `bagb bo k\h_h[jZagh_ ih\_^_gb_ gbdh]^Z g_ ijbh[j_lZ_l lZdbo fZkrlZ[h\ _keb lhevdh hgh g_ mkbeb\Z_lky ^jm]bfb Zdp_glmbjh\Zggufb q_jlZfb =hkih^bg ;h\Zjb ij_^klZ\ey_l kh[hc j_adbc dhgljZkl ih kjZ\g_gbx k `_ghc M g_]h g_l ba[uldZ `Z`^u i_j_`b\Zgbc dZd m Wffu GZijhlb\ hf kljZ^Z_l y\guf g_^hklZldhf `Z`^u i_j_`b\Zgbc RZjev\k_]^Zlj_a\ih\k_^g_\_g[ZgZe_g<hlqlh\b^bl_]h`_gZ\kdhj_ihke_[jZdZk JZa]h\hjuRZjey[uebiehkdbdZdmebqgZyiZg_evh[sb_f_klZ\_j_gbp_clygmebkv\ gbo \ h[uqguok\hbogZjy^Zog_\uau\Zygb \heg_gbygbkf_oZgbf_qlZgbcHgkZf\kihfbgZe qlh dh]^Z `be \ JmZg_ gb jZam g_ ihex[hiulkl\h\Ze aZclb \ l_Zlj ih]ey^_lv iZjb`kdbo Zdl_jh\Hgg_mf_egb ieZ\Zlvgb n_olh\Zlvgbklj_eylvbaibklhe_lZb dh]^Zh^gZ`^uWbfZ gZlhedgmeZkv\ jhfZg_gZg_ihgylgh_keh\hhlghkb\r__kyd \_joh\hc_a^_hgg_fh]h[tykgblv _]hagZq_gb_ Dh]^Z RZjev \ha\jZsZeky ^hfhc ihke_ ihk_s_gby [hevguo hg ©kgbfZe kxjlmd b gZqbgZeh[_^Zlv\ k\h_m^h\hevkl\b_I_j_[_j_l\k_oex^_ck dZdbfb\klj_lbeky\k_^_j_\gb \ dZdboih[u\Ze\k_j_p_iludZdb_ijhibkZeb^h\hevguckZfkh[hc^h_klhklZldb`Zjdh]h ihdh\ujy_lkujih]jua_ly[ehdhijbdhgqbl]jZnbg\bgZ: ihlhfmc^_l\ kiZevgxey`_lgZ kibgmb aZojZiblªkEx[h\v_]hlZd`_[ueZdjZcg_[m^gbqghcIhiuldb`_gu\g_klb\ g__ ohlvdZiexjhfZglbdbgbdZdg_m^Z\Zebkvk Ihju\uRZjeyijbh[j_ebj_]meyjghklvhgh[gbfZe__ \hij_^_e_ggu_qZkuLh[uehdZd [uijb\uqdhckj_^b^jm]boijb\uq_dq_flh\jh^_^_k_jlZh dhlhjhfagZ_rvaZjZg__kb^yaZ fhghlhggufh[_^hf Ijb]eZr_gb_d fZjdbamdhlhjh_gZihegbeh]hkih`m;h\Zjbklhevbkdj_ggbf\hklhj]hf ly]hlbeh ]hkih^bgZ ;h\Zjb GZ ijb_f_ hg qm\kl\h\Ze k_[y m`Zkgh b g_ fh] ^h`^Zlvky \ha\jZs_gby^hfhck RZjev_e_lZsbeky^_j`ZkvaZi_jbeZ²m g_]hih^dZrb\Zebkvgh]bIylvqZkh\ih^jy^ ijhklhyehgaZklheZfb]ey^ygZb]jm\ \bklghgbq_]h\ g_cg_ihgbfZyBkgy\[hlbgdbhg ]em[hdhb h[e_]q_ggh\a^hogme LZdNeh[_jbah[jZ`Z_lRZjeyRZjev²h[u\Zl_evk ]heh\u^hiylHgg_agZ_lgbq_]h djhf_h[u^_gghklbb \iheg_wlbf^h\he_gK lZdhc`_f_sZgdhc`_ghcdZdhgkZfhgb[ukh klZ\bebhlebqgmxkmijm`_kdmxiZjmb ijh`beb[u\f_kl_kqZkleb\mx`bagvGZ^hiheZ]Zlv qlh \ h[jZa_ RZjey ibkZl_ev \hh[s_ gbq_]h g_ ij_m\_ebqbe < ^_ckl\bl_evghc `bagb kms_kl\mxllZdb_g_\aukdZl_evgu_ex^bdhlhju_g_klj_fylkyihagZlvm\b^_lvqlhgb[m^v djhf_ ih\k_^g_\guo [ZgZevguo \_s_c Ih^h[gh_ ih\_^_gb_ h[mkeh\e_gh hlkmlkl\b_f q_eh\_q_kdh]h\e_q_gby\ukr_]hmjh\gy²`Z`^ujZaghh[jZaguoi_j_`b\Zgbc Bg^b\b^mZevgu_hkh[_gghklb\ kn_j_gZijZ\e_gghklbbgl_j_kh\b kdehgghkl_c AgZqbl_evgh_ dhebq_kl\h bg^b\b^mZevguo q_jl ebqghklb hlghkblky d ikbobq_kdhc kn_j_ gZijZ\e_gghklb bgl_j_kh\ b kdehgghkl_c =h\hjy h oZjZdl_j_ q_eh\_dZ fu \ i_j\mx hq_j_^v bf__f \ \b^m dZq_kl\Z bf_ggh wlhc kn_ju <Z`g_crb_ ba gbo fh`gh ijhbeexkljbjh\Zlv ZgZebabjmy g_dhlhju_ h[jZau om^h`_kl\_gghc ebl_jZlmju Kj_^b Zdp_glmbjh\Zgguo q_jl ebqghklb fu klZedb\Z_fky k [hyaeb\hklvx beb lj_\h`ghklvx ihke_^gyy k\yaZgZ k \_]_lZlb\ghc g_j\ghc kbkl_fhc H^gZdh lj_\h`ghklv fh`_l bf_lv b ^jm]b_ dhjgb g_dhlhju_ ex^bgZoh^ylkyijbhij_^_e_gguoh[klhyl_evkl\ZodZd[ugZbgl_gkb\ghc©\heg_kljZoZªWlh k\hckl\hgZdeZ^u\Z_lgZq_eh\_dZg_dbchkh[uchli_qZlhdohlyihkmlbj_adhg_hlebqZ_l_]h hl kj_^gbo ex^_c LZdbf [hyaeb\uf q_eh\_dhf y\ey_lky ]hkih^bg IZjZg ² i_jkhgZ` h^ghbf_gghc gh\_eeu =b ^_ FhiZkkZgZ JZkkdZa lZd b gZqbgZ_lky k hibkZgby ^Zgghc q_jlu ]hkih^bgZIZjZgZ<uc^ygZijh]medm\ iZjdkhk\hbfkugbrdhc hg \k_ \j_fy haZ[hq_g l_f dZd[ug_hiha^Zlv^hfhcl_dZd[ug_\_jgmlvkyk ijh]medbiha^g__`_guHg[_j_lfZeurZ gZ jmdb b k ljm^hf i_j_\h^y ^uoZgb_ wlhl iheguc khjhdZe_lgbc fm`qbgZ ihki_rgh ih^gbfZ_lky \ ]hjm ih djmlhfm i_j_medm >Z IZjZg[hblky qlh _]h aZ[jZgbl `_gZ dhlhjZy b kZfZlh kbkl_fZlbq_kdb hiZa^u\Z_l d h[_^m Lj_\h`ghklv ^hoh^bl ^h ij_^_eZ dh]^Z IZjZg aZf_qZ_l qlh hg ih]jm`_gguc \ k\hb fukeb kebrdhf ^he]h i_j_h^_\Zeky : f_`^m l_f m`_ [vxlqZkuK_fvqZkh\IZjZg\ m`Zk_o\ZlZ_lqbklmxjm[ZomIZjZglj_i_s_lb i_j_^k\h_c ijbkem]hc]jm[h\Zlhcdhj_gZklhchkh[hcdhlhjZy\_qgh[jZgblkyqlh©h[_^kgh\Zi_j_klhyeª GZ wlhl jZa hgZ kh[bjZ_lky mkljhblv kdZg^Ze ohaycd_ Z IZjZg iulZ_lky mlbohfbjblv g_^h\hevgmx@xebHgkh[kl\_gghg_k_j^blkygbgZhiZa^u\Zxsmx=_gjb_llmgb gZ@xeb hgijhklh[hblky[_amfgh[hblkyboh[_bo^Zb \hh[s_ex[h]h\hafh`gh]hijhbkr_kl\by\ _]h ^hf_ Hg lZd [hblky qlh dhg_qghklb _]h ^_eZxlky ©fy]dbfb dZd ljyidZª Iha^g__ kem`ZgdZ ©ijhk\_sZ_lª IZjZgZ gZkq_l ih\_^_gby `_gu ]h^Zfb h[fZgu\Zxs_c _]h k ex[h\gbdhf Gh Z\lhj gbq_]h g_ ibr_l h ]g_\_ IZjZgZ Z ]h\hjbl ebrv h _]h ©^mr_jZa^bjZxsboª \koebiu\Zgbyo < ^h\_jr_gb_ \k_]h `_gZ ijboh^bl ^hfhc \f_kl_ k ex[h\gbdhf b hldjulh ba^_\Z_lky gZ^ fm`_f MagZ\ hl kem`Zgdb qlh \^h[Z\hd dh \k_fm b kugm k\h_fm hg \h\k_ g_ hl_p qlh wlh j_[_ghd hl lh]h `_ ex[h\gbdZ hg aZ klhehf iulZ_lky hlukdZlv koh^kl\h f_`^m fZevqbdhf b ex[h\gbdhf H^gZdh IZjZg ^h lZdhc kl_i_gb [hblky ihkfhlj_lv ijyfh \ ]eZaZ ©wlhfmkm[t_dlmªqlh\k_\j_fyhimkdZ_l\ahjLj_\h`ghklb[hyaeb\hklbg_ijhlb\hj_qblb lh h[klhyl_evkl\h qlh IZjZg kh \j_f_g_f ^hoh^bl ^h khklhygby aeh[gh]h [_r_gkl\Z < wlhf kemqZ_fubf__f^_ehk hkljufijhy\e_gb_f^he]hlhjfhab\r_]hkyZnn_dlZdhlhjuckhaj_\Ze ihkl_i_ggh Ih\h^ ^ey lZdh]h ijhy\e_gby [ue ^hklZlhqgh k_jv_aguf h^gZ`^u \ha\jZlykv ^hfhc IZjZg aZklZe =_gjb_llm \ h[tylbyo ex[h\gbdZ Ijh^he`_gb_ jZkkdZaZ ikboheh]bq_kdb \iheg_ihke_^h\Zl_evghIhj\Z\k `_ghcIZjZg`_klhdhkljZ^Z_lb hl\_qghclj_\h`ghklbb hl h^bghq_kl\Z hg [hblky imklhc l_fghc d\Zjlbju [hblky imklugguo ihqlb g_hk\_s_gguo mebp k j_^dh jZaf_s_ggufb ]Zah\ufb nhgZjyfb [hblky h^bghdbo i_r_oh^h\ \ dZ`^hf ba dhlhjuo ]hlh\ m\b^_lv [jh^y]m b ]jZ[bl_ey OZjZdl_jgh qlh a^_kv ibkZl_ev mihfbgZ_l lZdhc nZdlhj dZd l_fghlZ gZ [hyaeb\uo ex^_c hgZ ^_ckl\m_l mkljZrZxs_ ;hyaeb\u_ ex^b lZd`_ \k_]^Zkt_`b\Zxlkyijb\b^_g_agZdhfuoex^_c©hlgboohjhr_]hg_`^bªAZlhijbkmlkl\b_ ex^_c [ebadbo ijb\uqguo gZihegy_l bo qm\kl\hf aZsbs_gghklb IZjZg ih^ dhg_p h]jZgbqb\Z_l k_[y \_kvfZ madbf djm]hf ohjhrh agZdhfuo ex^_c ijh\h^y [hevrmx qZklv \j_f_gb aZ klhehf aZ\k_]^ZlZ_\ \ k\h_c ib\ghc lml _]h agZxl b hnbpbZgldb b ihqlb \k_ ihk_lbl_eb LZd ijhoh^bl e_l H^gZ`^u [m^mqb m`_ klZjuf q_eh\_dhf IZjZg kemqZcgh \klj_qZ_lgZmebp_k\hx`_gm__ ex[h\gbdZb \ajhkeh]hkugZG_]h^h\Zgb_b ]hj_qvihih\h^m jZa[blhc`bagb]hlh\uijhj\Zlvkym IZjZgZgZjm`mghb a^_kvhgg_gZoh^bl\ k_[_fm`_kl\Z \ukdZaZlv k\h_ \hafms_gb_ ex^yf k^_eZ\rbf _]h g_kqZklguf IZjZg ^h]hgy_l bo gh _]h ho\Zlu\Z_l ©g_h[tykgbfucª kljZo b hg ijhoh^bl fbfh lZd b g_ aZ]h\h jb\ k gbfb ohly b iulZeky k_[y ©jZkljZ\blvª Lj_\h`ghklv [hyaeb\hklv IZjZgZ klhev \_ebdb qlh hgb gZ deZ^u\Zxlhli_qZlhdb gZ_]hh[jZa`bagbb gZ_]hkm^v[mFubkiulu\Z_f[hevrhckh[eZag ijbqbkeblv_]hd lj_\h`gufZdp_glmbjh\Zggufebqghklyfh^gZdhke_^m_lmq_klvqlhIZjZg \b^bfh fZeh q_f hlebqZeky [u hl q_eh\_dZ h[uqgh]h kj_^g_]h mjh\gy _keb [u g_ keh`gZy `bag_ggZy kblmZpby \ dhlhjmx hg ihiZe b dhlhjZy hdZaZeZ gZ g_]h iZ]m[gh_ \ebygb_ Lj_\h`guo km[t_dlh\ g_j_^dh bah[jZ`Z_l Ehi_ ^_ <_]Z m g_]h wlh ij_bfms_kl\_ggh kem]b dhlhju_^he`gukhklZ\blvdZd[udhgljZklkhk\hbfb]hkih^ZfbGZijbf_jkem]mFZjbgZba ^jZfu©DZkl_ev\bgub Fhgl_abªk\h_h[jZagu_©Jhf_hb >`mev_llZªwlh]h^jZfZlmj]Zm`_\ kZfhfgZqZe_^jZfu^_ckl\mxsb_ebpZoZjZdl_jbamxldZdljmkZqlhb ih^l\_j`^Z_lkyoh^hf ^_ckl\byLZdkp_gZ]b[_eb]_jh_\\ mkuiZevgbp_baaZljmkhklbFZjbgZjZau]ju\Z_lkykdhj__ dZd dhf_^by q_f dZd ljZ]_^by ?keb `_ k ^jm]hc klhjhgu kdehgghklv d lj_\h`ghklb [hyaeb\hklb dZd lZdh\Zy hlkmlkl\m_l fu \klj_qZ_fky k fm`_kl\_g guf q_eh\_dhf ihjhc ijhklh k hlqZygguf kf_evqZdhf Ih^h[gZy q_jlZ ebqghklb yjdh ijhy\ey_lky \ ©<bev]_evf_ L_ee_ªRbee_jZ>Ze__hklZgh\bfkygZlZdhfqm\kl\_dZdkhkljZ^Zgb_dhlhjh_ijbba\_klguo h[klhyl_evkl\Zo h\eZ^_\Z_l q_eh\_dhf k h]jhfghc kbehc ?keb dlhgb[m^v hq_gv e_]dh ih^^Z_lky`ZehklbwlhhiylvlZdbgxZgkbjm_llZdmxebqghklvhkh[uf h[jZahf < hlebqb_hl fy]dhk_j^_qby dhlhjh_ gZ[ex^Z_lky m fgh]bo wfhlb\guo ebqghkl_c wfhpbb \ lZdbo kemqZyo ijhy\eyxlky bkdexqbl_evgh bf_ggh \ qm\kl\_ `Zehklb khkljZ^Zgby dhlhjh_ \hagbdZ_l k g_h[udgh\_gghc e_]dhklvx KhkljZ^Zgb_f ho\Zq_g <Zgy ba jhfZgZ ©Mgb`_ggu_ b hkdhj[e_ggu_ª>hklh_\kdh]hHghkbevg__\k_]hijhy\ey_lkyihhlghr_gbxd GZlZr_dhlhjZy ]h\hjbl_fmlk ² $[ <Zgy ^jm] lu fhc ^hjh]hc <hl _keb y [m^m hiylv g_kqZklgZ _keb hiylv ]hj_ ijb^_l\_^vm`lu\_jgh[m^_rva^_kvih^e_f_gyh^bgfh`_l[ulvb [m^_rvQ_faZkem`my l_[_aZ\k_G_ijhdebgZcf_gygbdh]^Z<Zgy <Zgy [_amkeh\gh ex[bl GZlZrm gh _keb [u hg g_ [ue klhev `Zehkleb\ _]h ex[h\v g_ \ujZ`ZeZkv[u\ lZdhc\a\hegh\ZgghcaZ[hleb\hklbg_`ghklb\_^vGZlZrZlhex[bl^jm]h]h Bgh]^Zdh]^Z^_\mrdZq_flhhi_qZe_gZ<Zgy^hoh^blijyfh^hhlqZygbyhgkihkh[_gqZkZfb mkihdZb\Zlvml_rZlv__K_j^p__]h©k`bfZ_lkyhl]hjyªdh]^Zhg^mfZ_lh ly`_ehckblmZpbb \ dhlhjhc [_^gy`dZ hdZaZeZkv <kydmx [_^m GZlZrb \kydmx g_kijZ\_^eb\hklv ijbqbg_ggmx _c<Zgy[ebadhijbgbfZ_ld k_j^pm>_eh\ lhfqlh<Zgbghhlghr_gb_d GZlZr_h[tykgy_lky g_h^gbflhevdh_]hqm\kl\hfd ^_\mrd_²hg\hh[s_djZcg_qm\kl\bl_e_gWlhkdZau\Z_lky gZijbf_jb \k_j^h[hevghfhlghr_gbbd jh^bl_eyfGZlZrb<ZgyijbeZ]Z_l\k_mkbebyd lhfm qlh[u ohlv g_fgh]h kfy]qblv [hev dhlhjmx ^hqv ijbqbgbeZ bf k\hbf moh^hf <_ebqZcrbf khqm\kl\b_fb kZfhhl\_j`_ggufklj_fe_gb_fihfhqvgZihegy_l<Zgxkm^v[Zih^jhkldZG_eeb G_j_^dh <Zgx ho\Zlu\Z_l `_eZgb_ ihfhqv kjZam \k_f k\hbf ^jmavyf Lh qlh wlh nbabq_kdb g_\hafh`gh lZd dZd g_evay h^gh\j_f_ggh gZoh^blvky \ g_kdhevdbo f_klZo ]em[hdh m^jmqZ_l _]hLZdaZ[hlykvh G_eebhgfuke_ggh\k_\j_fyk GZlZr_cZ gZoh^ykvm GZlZrbg_hlklmigh ^mfZ_l h __ fZl_jb dhlhjZy m`_ k g_l_ji_gb_f `^_l _]h ;eZ]h^Zjy lhfm qlh w]hbklbq_kdb_ q_jlu \ oZjZdl_j_ <Zgb kh\k_f hlkmlkl\mxl _]h fh`gh hij_^_eblv dZd ^h[jh]h q_eh\_ dZ Gb`_h^gZdhfum\b^bfqlh^h[jhlZh[eZ^Z_ljZaebqghckl_i_gvxijhy\e_gby[u\Zxlex^b dhlhju_ \hh[s_g_ kihkh[gu gb d dhfm bkiulu\Zlv \jZ`^_[gh_ hlghr_gb_ hgb g_ kihkh[gu g_gZ\b^_lv^Z`_k\hbo\jZ]h\M <Zgbh^gZdh wlhg_ lZdhgho\Zq_g ]g_\hf \b^y dh\Zjkl\h dgyay ^jh`bl hl [_r_gkl\Z dh]^Z ]h\hjbl k gbf Hl `Zehkleb\uo ex^_c bkoh^bl hkh[Zy ^mr_\gZyl_iehlZ=h\hjy`_h ^mr_\ghcoheh^ghklbg_wfhpbhgZevghklbq_eh\_dZfubf__f\ \b^m g_ hlkmlkl\b_ wfhpbc dZd lZdh\uo Z bf_ggh g_^hklZlhd khkljZ^Zgby Kx^Z hlghkblky lZd`_ b g_kihkh[ghklv jZa^_eylv qvxlh jZ^hklv >mr_\gh oheh^gu_ ex^b g_ fh]ml gb khqm\kl\h\Zlvqm`hfm]hjxgb jZ^h\Zlvkyqm`hcjZ^hklb Lbibqgmx oheh^ghklv qm\kl\ bah[jZ`Z_l Lmj]_g_\ \ jhfZg_ ©Hlpu b ^_lbª ;ZaZjh\ fheh^hc\jZqihaZfukemibkZl_eyy\ey_lkyyjdbfij_^klZ\bl_e_ffh^gh]h\ lh\j_fyl_q_gby ²gb]bebafZ?]h^jm]:jdZ^bc^Z_lke_^mxs__hij_^_e_gb_gb]bebklZk ²Gb]bebklwlhq_eh\_ddhlhjucg_kdehgy_lkygb i_j_^dZdbfbZ\lhjbl_lZfbdhlhjuc g_ijbgbfZ_lgb h^gh]hijbgpbiZgZ\_jmdZdbf[um\Z`_gb_fgb [uehdjm`_gwlhlijbgpbi ;ZaZjh\p_gbl_kl_kl\_ggu_gZmdbhkh[_gghnbabdmb obfbxh^gZdhij_abjZ_lbkdmkkl\h b ihwabx QblZlv ImrdbgZ hg gZoh^bl kf_rguf D\bglwkk_gpby _]h km`^_gbc h[ bkdmkkl\_ aZdexq_gZ\ ke_^mxsbokeh\Zok ²Ihfh_fm²\hajZabe;ZaZjh\²b JZnZwev]jhrZf_^gh]hg_klhbl^Zb hklZevgu_g_ emqr__]h Ihkdhevdm hkh[_gguo iheh`bl_evguo b^_Zeh\ m kZfh]h ;ZaZjh\Z g_l hg y\eyykv ij_^klZ\bl_e_fj_\hexpbhggh]hgZijZ\e_gbykj_^blh]^Zrg_cjmkkdhcfheh^_`bg_kihkh[_g ihdZaZlv ijb\e_dZl_evgu_ klhjhgu wlh]h gZijZ\e_gby H^gZdh m`_ kZfZ fZg_jZ baeh`_gby k\hbo\a]ey^h\bgh]^Zk ©oheh^ghcmkf_rdhcªgZebp_y\kl\_ggh]h\hjblh lhfqlhhggbdhfm b gbkdhevdh g_ kihkh[_g khqm\kl\h\Zlv GZ^h iheZ]Zlv qlh kbfiZlbb ibkZl_ey p_ebdhf gZ klhjhg_klZjr_]hihdhe_gbybgZq_aZq_f[uhgklZegZ^_eylvklhevg_kbfiZlbqgufbq_jlZfb ij_^klZ\bl_ey[he__fheh^h]h"Ijb[u\\ ]hklbd hlpm^jm]ZGbdheZxI_ljh\bqmb d_]h^y^_ IZ\emI_ljh\bqm;ZaZjh\g_^h\he_gklZjhfh^gufbfZg_jZfbwlboih`beuoex^_chkh[_ggh aeblky hg gZ ZjbklhdjZlbq_kdb \ukhdhf_jgu_ j_qb b fZg_ju ^y^xrdb >ey q_eh\_dZ k ghjfZevgufbwfhpbyfbwlh\jy^ebklZeh[uih\h^hfd lhfmqlh[u\_klbk_[y\ ]hklyoklhev [_kp_j_fhgghM`_\ ^_gvijb_a^ZhggZau\Z_l^y^x^jm]Z©qm^ZdhfªZ _]hhlpZ©ZjoZbq_kdhc nb]mjhcªHg\_kvfZj_adhkihjblk h[hbfbZ \hl\_lgZg_kdhevdhg_j_rbl_evgucmdhj^jm]Z aZy\ey_lk ²>ZklZgmy bo[Zeh\Zlvwlbom_a^guoZjbklhdjZlh\<_^vwlh\k_kZfhex[b_ev\bgu_ ijb\uqdbnZlh\kl\h A\mdb\bhehgq_ebmkeurZggu_;ZaZjh\uf\ ^hf_djZcg_m^b\beb_]hk ² Wlh qlh" ² ijhbag_k k bamfe_gb_f ;ZaZjh\ ² Wlh hl_p ² L\hc hl_p b]jZ_l gZ \bhehgq_eb" ² >Z ² >Z kdhevdh l\h_fm hlpm e_l" ² Khjhd q_luj_ ;ZaZjh\ \^jm] jZkohohlZeky²Q_fm`_lukf__rvky"²Ihfbemc< khjhdq_luj_]h^Zq_eh\_d SDWHUIDPLOLDV \ f m_a^_²b]jZ_lgZ\bhehgq_eb GbdheZcI_ljh\bqkemqZcghih^kemrb\Z_ljZa]h\hjh k_[_k ²LuhlpZg_^hklZlhqghagZ_rv²]h\hjbe:jdZ^bcGbdheZcI_ljh\bqijblZbeky ² L\hc hl_p ^h[juc fZeuc ² ijhfhe\be ;ZaZjh\ ² gh hg q_eh\_d hlklZ\ghc _]h i_k_gdZ ki_lZ GbdheZc I_ljh\bq ijbgbd mohf :jdZ^bc gbq_]h g_ hl\_qZe ©HlklZ\ghc q_eh\_dª ihklhye fbgmlu ^\_ g_ih^\b`gh b f_^e_ggh ihie_eky ^hfhc ² Lj_lv_]h ^gy y kfhljxhgImrdbgZqblZ_l²ijh^he`Zef_`^ml_f;ZaZjh\²JZklhedmc_fmih`ZemcklZ qlh wlh gbdm^Z g_ ]h^blky <_^v hg g_ fZevqbd ihjZ [jhkblv wlm _jmg^m B hohlZ `_ [ulv jhfZglbdhf\ gug_rg__\j_fy>Zc_fmqlhgb[m^v^_evgh_ihqblZlv Kug ih^^_j`b\Z_l lm h[b^gmx kblmZpbx qlh keh`beZkv f_`^m ^jm]hf b hlphf hg hlgbfZ_lm GbdheZyI_ljh\bqZlhfbdImrdbgZb ih^kh\u\Z_l\f_klhg_]h dZdmxlhdgb]mih _kl_kl\hagZgbx < ^Zevg_cr_f ;ZaZjh\ k\hbf [_kp_j_fhgguf ih\_^_gb_f ijh^he`Z_l gZjmrZlv fbjgmx h[klZgh\dm pZjysmx \ k_fv_ DbjkZgh\uo H^gZdh _keb ^himklbf fh`gh ijhklblvih\_^_gb_;ZaZjh\Zihhlghr_gbxd hlpmb ^y^_^jm]Zlhm`_\h\k_g_ijhklbl_evgh _]hhlghr_gb_d k\hbfjh^bl_eyf?]hk g_l_ji_gb_f`^ml^hfZihke_lj_oe_lg_]hhlkmlkl\by ghhghlgx^vg_lhjhiblkylm^Z\_jgmlvkyDh]^ZhggZdhg_pijb_a`Z_lijhklh^mrgZyjZ^hklv jh^bl_e_chklZ\ey_l_]h[_amqZklguf<kdhj_ihke_ijb_a^Z^hfhchgh[jZsZ_lkyd :jdZ^bxkh keh\Zfbk ² <hl l_[_ gZ Ij_aZ[Z\guc klZjbdZrdZ b ^h[j_crbc ² ijb[Z\be ;ZaZjh\ dZd lhevdh <ZkbebcB\Zgh\bq\ur_e²LZdhc`_qm^ZddZdl\hclhevdh\ ^jm]hfjh^_Fgh]hm`hq_gv [helZ_l H fZl_jb`_;ZaZjh\mg_q_]hkdZaZlvdjhf_dZd©>ZhgZm f_gy[_aobljhklbH[_^gZf ihkfhljb dZdhc aZ^Zklª <h \k_ih]ehsZxs_c ex[\b jh^bl_e_c d _^bgkl\_gghfm kugm \ha\jZs_gbydhlhjh]hhgblZd^he]h`^Zeb_klvg_qlhqj_af_jgh_ghhq_gvljh]Zl_evgh_G_ ljh]Z_l hgZ lhevdh kZfh]h ;ZaZjh\Z hg y\gh klhjhgblky __ lZd qlh hl_p b fZlv h^gh]h ebrv [hylky²dZd[ug_ihf_rZlvkugmk :jbgZ <eZkv_\gZ ihij_`g_fm kb^_eZ \hae_ kugZ \ dZjlu hgZ g_ b]jZeZ ih ij_`g_fm ih^ibjZy s_dm dmeZqdhf b \klZ\ZeZ lhevdh aZl_f qlh[u \_e_lv ih^Zlv dZdh_gb[m^v gh\h_ ykl\hHgZ[hyeZkveZkdZlv;ZaZjh\Zb hgg_h[h^jye__g_\uau\Ze__ gZeZkdbijblhf`_b <Zkbebc B\Zgh\bq ijbkh\_lh\Ze _c g_ hq_gv _]h [_kihdhblv Gh ]eZaZ :jbgu <eZkv_\gu g_hlklmigh h[jZs_ggu_ gZ ;ZaZjh\Z \ujZ`Zeb g_ h^gm ij_^Zgghklv b g_`ghklv \ gbo \b^g_eZkvb ]jmklvkf_rZggZyk ex[hiulkl\hfb kljZohf\b^g_ekydZdhclhkfbj_ggucmdhj <ijhq_f;ZaZjh\m[uehg_^hlh]hqlh[ujZa[bjZlvqlhbf_ggh\ujZ`Zeb]eZaZ_]hfZl_jbhg j_^dhh[jZsZekyd g_cb lhk dhjhl_gvdbf\hijhkhf : \hlkeh\Zijhbaghkbfu_;ZaZjh\ufm`_gZke_^mxsbc^_gvihijb_a^_^hfhck ² G_l ² ]h\hjbe hg gZ ke_^mxsbc ^_gv :jdZ^bx ² m_^m hlkx^Z aZ\ljZ Kdmqgh jZ[hlZlv ohq_lky Z a^_kv g_evay HlijZ\exkv hiylv d \Zf \ ^_j_\gx y `_ lZf \k_ k\hb ij_iZjZluhklZ\beM \ZkihdjZcg_cf_j_aZi_j_lvkyfh`gh: lha^_kvhl_pfg_l\_j^bl©Fhc dZ[bg_ld l\hbfmkem]Zf²gbdlhl_[_f_rZlvg_[m^_lªZ kZfhlf_gygbgZrZ]>Zb kh\_klgh dZdlhhlg_]haZibjZlvkyGmb fZlvlh`_Y keurmdZdhgZ\a^uoZ_laZkl_ghcZ \uc^_rvd g_c²b kdZaZlv_cg_q_]h Dh]^Z:jdZ^bcaZy\ey_lqlhbkiulu\Z_l`Zehklvd fZl_jb^jm]Z;ZaZjh\pbgbqgh]h\hjbl _fm\ hl\_lk ²QlhlZd"Y]h^ZfbqlhebhgZl_[_m]h^beZ" GZke_^mxsbc^_gvjh^bl_eb]em[hdhihljyk_gukugb \kZfhf^_e_m_a`Z_lKlZjbdZf ohq_lky ml_rblv ^jm] ^jm]Z KgZqZeZ g_h[oh^bfh ih^^_j`Zlv :jbgm <eZkv_\gm dhlhjZy kh\_jr_ggh\g_k_[yk <Zkbebc B\Zgh\bq km_lbeky [hevr_ q_f dh]^Zeb[h hg \b^bfh ojZ[jbeky ]jhfdh ]h\hjbe b klmqZe gh]Zfb gh ebph _]h hkmgmehkv b \a]ey^u ihklhyggh kdhevabeb fbfh kugZ :jbgZ<eZkv_\gZlbohieZdZeZhgZkh\k_f[ujZkl_jyeZkvb g_kh\eZ^ZeZ[uk kh[hc_keb[u fm`jZghmljhfp_euo^\ZqZkZ__ g_m]h\Zjb\Ze GhihlhfhgZgZqbgZ_lml_rZlvfm`Zk ©;jhkbe[jhkbegZk²aZe_i_lZehg²[jhkbekdmqgh_fmklZehk gZfbH^bgdZdi_jkl l_i_jv h^bgª ih\lhjbe hg g_kdhevdh jZa b dZ`^uc jZa \ughkbe \i_j_^ k\hx jmdm k hl^_e_gguf iZevp_f Lh]^Z :jbgZ <eZkv_\gZ ijb[ebabeZkv d g_fm b ijbkehgb\ k\hx k_^mx ]heh\md _]hk_^hc]heh\_kdZaZeZ©Qlh^_eZlv<ZkyKug²hlj_aZggucehfhlvHgqlhkhdhe aZohl_e²ijbe_l_eaZohl_e²me_l_eª H[jZa;ZaZjh\ZyjdhihdZau\Z_lqlhkh[hcij_^klZ\ey_loheh^ghklvqm\kl\KhkljZ^Zgb_d ex^yf dhlhjuo hg hkdhj[ey_l dhlhjuf hg ijbqbgy_l ihjhc ]em[hdh_ ]hj_ ^ey ;ZaZjh\Z g_ kms_kl\m_lG_\_^hfh_fmb qm\kl\hjZ^hklbaZ^jm]h]hkhi_j_`b\Zgb_KqZklv_gZihegyxs__ _]h jh^bl_e_c dh]^Z hg d gbf ijb_oZe lZd `_ fZeh _]h ljh]Z_l dZd b bo kljZ^Zgby \ ^Zevg_cr_f<hafh`gh;ZaZjh\mfure_ggh^_fhgkljbjm_l[_kk_j^_qb_\uklmiZyk ijhl_klhf ijhlb\\k_ob \kyq_kdboqm\kl\kqblZybog_gm`ghcjhfZglbdhc<hafh`ghibkZl_evihklZ\be i_j_^kh[hcp_evkha^Zlvbf_gghlZdh_\i_qZle_gb_h ;ZaZjh\_B \k_`_^mr_\gu_^\b`_gby lZdh]hjh^ZdZdgZijbf_jqmldhklvd kh[kl\_ggufjh^bl_eyf\jy^ebe_]dhkl_j_lv^h\h^Zfb jZamfZD dhgpmjhfZgZgZ[ex^Z_lky©kZfhdhjj_dpbyª;ZaZjh\ZOhlyhgex[h\vlh`_kqblZ_l jhfZglbq_kdbfb [j_^gyfb h^gZdh _]h kZfh]h ho\Zlu\Z_l ]em[hdh_ qm\kl\h d :gg_ K_j]__\g_ H^bgph\hcb gbdZdb_^h\h^ujZkkm^dZ_fmg_\ khklhygbbihfhqvY iha\hexk_[_\ukdZaZlv khh[jZ`_gb_qlhb khqm\kl\b_]hjx[ebadboex^_c^Z`__kebiulZlvkyih^Z\blv_]hjZamfhf g_ fh`_l g_ hklZ\blv ke_^Z \ ^mr_ < p_ehf ;ZaZjh\ \ fZkl_jkdhf bah[jZ`_gbb Lmj]_g_\Z ij_^klZ\ey_l kh[hc \_kvfZ k\h_h[jZagmx ebqghklv H^gZdh hl ^jm]bo ex^_c _]h hlebqZxl g_ klhevdh qm\kl\Z b ihklmidb kdhevdh fukeb b b^_b Fh`gh k m\_j_gghklvx kdZaZlv qlh gZ hkgh\_ h^ghc ebrv oheh^ghklb qm\kl\ ;ZaZjh\ gbdh]^Z [u g_ \u^_ebeky ^h lZdhc kl_i_gb gZ nhg_ex^_ckj_^g_]hmjh\gydZd\u^_ey_lkyhg[eZ]h^Zjyhjb]bgZevghklbk\hbob^_cD lhfm `_ g_h[oh^bfh hl[jhkblv lh om^h`_kl\_ggh_ ij_m\_ebq_gb_ dhlhjh_ g_ba[_`gh \hagbdZ_l m dZ`^h]h djmigh]h ibkZl_ey bah[jZ`Zxs_]h kn_jm qm\kl\ Ih^h[gh_ ij_m\_ebq_gb_ g_khfg_ggh jZkijhkljZgy_lky b gZ h[eZklv ©oheh^ghklb qm\kl\ª <ke_^kl\b_ wfhpbhgZevghc oheh^ghklbih\_^_gb_;ZaZjh\Zy\ey_lkyg_j_^dh]jm[uf[_kp_j_fhgguf^Z`_pbgbqgufgh \k_`_hghg_klZgh\blky\ madhfkfuke_keh\ZZkhpbZevguf?keb[uwlhl]_jhcLmj]_g_\Zg_ lhevdhoheh^ghijhoh^befbfhbkdj_ggbowfhpbc^jm]boex^_cghb [_a^mrghij_ke_^h\Ze[u k\hbw]hbklbq_kdb_bgl_j_kuihemqbeZkv[u^jm]Zydhgnb]mjZpbym ;ZaZjh\Zhlkmlkl\h\Zeh[u khagZgb_ ^he]Z H^gZdh b^_b ;ZaZjh\Z ² hlgx^v g_ _]h ebqgh_ ^_eh Hg kqblZ_l qlh h[yaZg gZkZ`^Zlvbo^ey[eZ]Zh[s_kl\ZK qm\kl\hf^he]Zi_j_ie_lZ_lkyl_kg_crbfh[jZahfqm\kl\h klu^Z Qm\kl\h klu^Z g_baf_ggh ho\Zlu\Z_l q_eh\_dZ \h \k_o l_o kemqZyo dh]^Z hg g_ \uihegy_l k\h_]h ^he]Z < om^h`_kl\_gghc ebl_jZlmj_ qm\kl\h ^he]Z g_j_^dh \klmiZ_l \ dhgnebdlk dZdbfeb[hkbevguf`_eZgb_fi_jkhgZ`Z< ^jZf_©Kb^ªDhjg_ey]_jhbgxObf_gm hlebqZ_l hq_gv kbevgh_ qm\kl\h ^he]Z ?_ \haex[e_gguc Jh^jb]h m[b\Z_l \ ih_^bgd_ hlpZ Obf_gu h^gZdh hgZ g_ fh`_l klZ\blv wlh \ \bgm Jh^jb]h qm\kl\h kh[kl\_ggh]h ^hklhbgkl\Z lj_[h\Zehqlh[uhgijbgye\uah\GhObf_gZagZ_lb k\hc^hq_jgbc^he]k Obf_gZ M\uohly\jZ`^ZgZkjZa\_eZ^Ze_dh Jh^jb]hy dl_[_g_h[jZsmmij_dZ B^ZgvkljZ^ZgbyieZlyfh_ckm^v[_ L_[yy g_\bgxy ieZqmh k_[_ Y agZxohjhrhqlh_kebq_klvaZ^_lZ ;_kkljZrv_lj_[m_l^hklhcgh]hhl\_lZ Lhqlhlu\uihegbe[uelhevdh^he]ijyfhc Gh\uihegb\_]hlufg_hldjueb fhb Ih[_^ZfjZqgZyl\hy[ueZihijZ\m HlfsZyaZhlpZk\hxkh[exelukeZ\m B yk\hcljm^guc^he]bkihegx^hdhgpZ Y keZ\mkh[ex^mhlfsZyaZhlpZ OhlyObf_gZb k_cqZkex[blJh^jb]hgbqmlvg_f_gvr__xjmdh\h^blh^ghebrvkhagZgb_ ^hq_jg_]h^he]ZB hgZ\hkdebpZ_li_j_^dhjhe_fk <ke_^]hjx]hkm^Zjvki_rblqj_af_jghklvq_klb LZd\hlhgg_^urZehg[uem[blgZf_kl_ AbyeZ]jm^v_]hhggZ\k_]^Zmfhed Ghdjh\vxgZa_fe_gZq_jlu\Zefhc^he] Gb h^gh keh\h gb h^bg `_kl Obf_gu g_ \u^Zxl h^gZdh lh]h qlh hgZ \k_ _s_ ex[bl Jh^jb]hHgZlhevdhlj_[m_l\haf_a^byaZhlpZk G_hlhfs_ggZydhgqbgZojZ[j_pZ Ih]Zkblj\_gb_\_jg_crbokem]\_gpZ >Zfhchl_pm[bly lj_[mxhlfs_gvy Kdhj_c^eyihevau\Zfq_ffg_^eyml_r_gvy Ih^h[gh]hhlpm\ug_gZc^_l_\gh\v <ha^Zcl_` kf_jlvaZkf_jlv Ijhe_cl_djh\vaZdjh\v Imklv`_jl\hxiZ^_lg_fg_gh\Zr_ckeZ\_ Gh\Zr_fm\_gpmb kdbiljmb ^_j`Z\_ Imklv`_jl\hxiZ^_lgZ[eZ]h\k_ckljZg_ =hj^ugxq_jiexsbc\ g_keuoZgghc\bg_ Lhevdhk\h_c\hkiblZl_evgbp_Wev\bj_ijbagZ_lkyObf_gZ\ ex[\bd Jh^jb]hk Lu]h\hjbrv²ex[ex[h]hl\hjxWev\bjZ KljZklv[hj_lky\hfg_k aZdhgghx\jZ`^hc <k_lZd`_^hjh]fg_fhcg_^jm]fheh^hc B ohlv\ fh_c^mr__klv]g_\gh_mihjkl\h Jh^jb]h\ g_ck hlphf\_^_l_^bgh[hjkl\h Hgehfblhgl_kgblhg]g_lkyi_j_^gbf Lhyjhkl_glhkeZ[lh\gh\vg_h^hebf Gh]jhagZy[hjv[Zb `]mqZyb aeZy L_jaZ_lk_j^p_fg_^mrbg_jZa^_eyy B ohlvfh_cex[\bfh]ms_kl\_ggZ\eZklv Y [_ajZa^mfbyk\hxba[jZeZqZklv Y g_dhe_[e_fhki_rmgZ]hehkq_klb Jh^jb]h^hjh]fg_y kgbf^mrhx\f_kl_ Y k_j^p_faZg_]hgh^he]fg_]h\hjbl LuagZ_rvqvylu^hqvb l\hchl_pm[bl Iha^g__dh]^ZObf_gZkqblZ_lk\h_]h\haex[e_ggh]h f_jl\uf hgZ ho\Zq_ggZy ihju\hf kljZklgh]h qm\kl\Z ijbagZ_lky ^hgm KZgqh fklbl_ex aZ __ `_ hlpZ \ lhf qlh ex[h\v d Jh^jb]h\k__s_iueZ_l\ __]jm^bk Obf_gZ Qlh[djh\vi_j_^hfghc^ufbeZkv^hjh]Zy" B lu_s_ijbclbhkf_ebekykx^Z LukqZklb_fh_hlgy\rbcgZ\k_]^Z" Ju^Zcfhyex[h\vaZ[m^vk\hcie_gkmjh\uc Hl_pfhchlhfs_glufh`_rvkgylvhdh\u Hlgug_q_klvfhy\h\_d\hag_k_gZ >mrZjZkl_jaZgZb kljZklvfhy\hevgZ >hgKZgqh Dh]^Zkihdhcg__ Obf_gZ Fheqbaeh^_cm`Zkguc Qv_c]gmkghxjmdhcm[bl]_jhcij_djZkguc Lu\ayeij_^Zl_evkl\hfg_fh][h_pdZdhg LZdbfijhlb\gbdhfhldjulh[ulvkjZ`_g Mc^blu\b^brvkZfk\h_cmkem]_p_gm IulZykvaZsblblvlumf_jl\beObf_gm >hgKZgqhf_`^ml_fkh[bjZ_lky\k_]hebrvkhh[sblv_cqlhhgkZfohlyb [uekjZ`_g Jh^jb]h h^gZdh g_ [ue m[bl Z ebrv h[_ahjm`_g wlbf [eZ]hjh^guf \hbghf Gh Obf_gZ dhlhjmx ijb _]h ihy\e_gbb ho\Zlu\Z_l hlqZygb_ hgZ m[_`^_gZ \ ]b[_eb Jh^jb]h g_ ^Z_l kdZaZlv _fm gb keh\Z =em[bgZ ex[\b Obf_gu hldju\Z_lgZf \kx ]em[bgm __ khagZgby k\h_]h ^he]Z Dhg_qgh ^jZfZ Dhjg_ey gZibkZgZ \ \ha\ur_gghc iZl_lbq_kdhc fZg_j_ Gh \k_ `_ ZgZeba__ [jhkZ_lk\_lb gZfhlb\uih\_^_gbyl_o\klj_qZ_fuogZfb\ `bagb©g_]_jhbq_kdboª ex^_c dhlhju_ hlebqZxlky kbevguf khagZgb_f ^he]Z ?s_ [he__ `_klhdmx [hjv[m k kZfbf kh[hci_j_`b\Z_lbfi_jZlhjLbl\ ©;_j_gbd_ªJZkbgZ]^_^he]\ dhgp_dhgph\h^_j`Ze\_jo gZ^ex[h\vxKms_kl\m_ljbfkdbcaZdhgaZij_sZxsbcbfi_jZlhjm`_gblvkygZbghkljZgghc dhjhe_\_ ;_j_gbdZ ² dhjhe_\Z IZe_klbgu Lbl \eZkl_ebg bkiheg_gguc [eZ]hjh^ kl\Z ihklhyggh\kihfbgZ_lh ijhba\he_k\hboij_^r_kl\_ggbdh\_fmhq_gvg_ohl_ehkv[ugZqbgZlv k\h_ ijZ\e_gb_ gZjmr_gb_f aZdhgZ Gh d ;_j_gbd_ hg bkiulu\Z_l kljZklgh_ qm\kl\h Hg \hkdebpZ_lk Hkdhevg_kqZkl_gy HJbfH;_j_gbdZ DZdly`_ehex[blv B [ulvkljZgu\eZ^udhc B fh`_l [ulv Lbl \ dhg_qghf kq_l_ ij_klmibe [u aZdhg _keb [u kZfZ ;_j_gbdZ g_ ijbreZ _fm gZ ihfhsv jZaj_rb\ [hjv[m k\hbf kh[kl\_gguf khagZgb_f ^he]Z hgZ hldZau\Z_lkyhlex[\bLblZk l_fqlh[u\k_k\hbqm\kl\Zbfi_jZlhjhl^Zek\hbfkljZ`^msbf khhl_q_kl\_ggbdZf H dhgnebdl_ f_`^m ex[h\vx b ^he]hf ibrml fgh]b_ Z\lhju gh gb]^_ ih`Zemc hg g_ ihdZaZg k lZdhc kbehc dZd m Dhjg_ey b JZkbgZ QZklh ex[h\v ih^Z\ey_lky g_ lhevdh ^he]hf < ©AZbj_ª <hevl_jZ aZij_l gZ qm\kl\h d kmelZgmfZ]hf_lZgbgm gZeZ]Z_l ojbklbZgkdh_\_jhbkih\_^Zgb_]_jhbgbHl_pb [jZlm[_^bebAZbjmqlhh^gbebrvojbklbZg_ kihkh[gu ihagZlv bklbggh_ [eZ`_gkl\h ihwlhfm ^he] ojbklbZgdb ² hldZaZlvky hl \haex[e_ggh]h ^jm]hc \_ju Gh \ hlj_q_gbb AZbju mqZkl\m_l _s_ b kljZo i_j_^ gZdZaZgb_f ]jhaysbf \_jhhlklmigbdZf \ ihlmklhjhgg_c `bagb <ijhq_f _keb \ dhgnebdl_ ih[_`^Z_l ex[h\v dZd gZijbf_j \ ©:gg_ DZj_gbghcª Lheklh]h ]^_ ]_jhbgy jZ^b ex[\b hklZ\ey_l g_ lhevdh fm`Z gh b j_[_gdZ lh wlh _s_ g_ h[yaZl_evgh k\b^_l_evkl\m_l h g_^hklZlhqghf khagZgbb^he]Zqm\kl\_ggZyex[h\vfh`_lhdZaZlvkykhdjmrbl_evghckbehcdhlhjmxq_eh\_d g_ \ kbeZo ij_h^he_lv Hlkmlkl\b_ khagZgby ^he]Z fu gZ[ex^Z_f \ ©N_^j_ª JZkbgZ N_^jZ ho\Zq_ggZy kljZklvx d iZkugdm Biiheblm ^himkdZ_l qlh[u __ gZi_jkgbpZ hde_\_lZeZ i_j_^ hlphfxghrmdhlhjucg_r_egZ\klj_qmex[h\guf^hfh]Zl_evkl\ZfN_^jul_nZdlbq_kdb fZq_oZklZgh\blky\bgh\gbp_ckf_jlbBiiheblZ: \LjZ]_^bb?\jbib^Z©BiiheblªN_^jZb^_l _s_^Zevr_i_j_^l_fdZdihdhgqblvk kh[hchgZ\ ibkvf_d fm`mkZfZde_\_s_lgZBiiheblZ < bghfieZg_j_rZ_lkydhgnebdlf_`^ml_fq_]h[uq_eh\_dmohl_ehkvb l_fqlh_fm\_ebl ^he] \ ^jZf_ ©Ijbgp =hf[mj]kdbcª =_gjboZ nhg De_cklZ ;hjv[Z \ ^mr_ dmjnxjklZ ijhbkoh^bl f_`^m ^he]hf ih hlghr_gbx d jh^bg_ b qm\kl\hf hlph\kdhc ex[\b d ijbgpm dmjnxjklih^ibku\Z_lkf_jlgucijb]h\hjijbgpmdhlhjh]hex[bldZdkugZ?]hie_fyggbpZ GZlZeb]h\hjblh `_klhdhklb[_kq_eh\_qghklbwlh]hj_r_gbyGZ__ keh\Zdmjnxjklhl\_qZ_l qlhhgg_\ ijZ\_hlf_gblvijb]h\hjkm^Zqlhwlhih\e_deh[uaZkh[hcg_\hkihegbfu_ihl_jb ^eyhlqbaguKhagZgb_^he]Z\ h^gbokemqZyok\yaZghk h[s_ijbagZggufbihgylbyfb\ ^jm]bo hgh[he__h^ghklhjhgg_b jZkijhkljZgy_lkyebrvgZg_dmxqZklgmxh[eZklvgZijbf_jkm]m[h ijhn_kkbhgZevgmx < k\h_f jhfZg_ ©Hl\_j`_ggu_ª < =x]h beexkljbjm_l lZdh_ ij_m\_ebq_ggh_ khagZgb_ ^he]Z m qbgh\gbdZ Ihebp_ckdbc bgki_dlhj @Z\_j [_a]jZgbqgh q_kl_g \ hlghr_gbb k\hbo h[yaZgghkl_c ihwlhfm ke_^blv aZ ihjy^dhf \h \\_j_gghf _fm ^_iZjlZf_gl_ ² _]h k\ys_gguc ^he] Ghqvx gZ h^ghc ba mebp IZjb`Z hg klZgh\blky k\b^_l_e_f lh]h dZd dZdZylh `_gsbgZ k dmeZdZfb gZ[jZku\Z_lky gZ we_]Zglgh h^_lh]h fm`qbgm @Z\_jm b ^_eZ g_l ^h lh]h qlh `_gsbgZ ^_ckl\m_l \ ihjy^d_ kZfhaZsblu Hg kh[kl\_ggufb]eZaZfb\b^_edZd©wlZijhklblmldZªgZe_l_eZgZijbebqgh]h]hkih^bgZagZqbl hgZih^e_`blZj_klmFukebh lhfqlh©hl\_j`_ggu_ªaZkem`b\Zxlg_lhevdhgZdZaZgbyghb khkljZ^Zgby @Z\_jm kh\_jr_ggh qm`^u g_ lhevdh aZ^ZqZ gh ^_eh _]h `bagb ² [exklb ihjy^hdB \k_lZdbhgg_fh`_lh]jZ^blvk_[yhl]em[hdh]hq_eh\_q_kdh]hkhqm\kl\byh^gZdh wlh h[hagZqZ_l ^ey g_]h `bag_ggmx dZlZkljhnm b hg ijboh^bl \ hlqZygb_ Hg g_ aZ^_j`Ze q_eh\_dZ dhlhjh]h kqblZ_l ly`dbf ij_klmigbdhf gh dhlhjuc kiZk _fm @Z\_jm `bagv B @Z\_jg_fh`_lijhklblvk_[_lZdh]hk\h_\hebylZdh]h©mdehg_gbyhlaZdhgguoij_^ibkZgbcª Hg©ih^qbgbeh[s_kl\_ggu_bgl_j_kuebqgufªDh]^ZhghdhgqZl_evghhkhagZ_lqlh\ `bagb kms_kl\m_lg_qlh\ukr__q_f^he]qbgh\gbdZwlhijb\h^bl_]h\ ihegh_aZf_rZl_evkl\h^ey g_]hmljZq_gdjbl_jbchp_gdbkh[kl\_gguo^_ckl\bc<uoh^Zhq_\b^gh[ulvg_fh`_l@Z\_j [jhkZ_lky\ K_gmb ]b[g_l\ __\h^h\hjhlZoGZjy^mk qm\kl\hf^he]Zhkh[h_\gbfZgb_ke_^m_l m^_eblv qm\kl\m ^jm`[u Qm\kl\h ^jm`[u beb \aZbfghc kbfiZlbb \hagbdZ_l h[uqgh f_`^m ex^vfbg_ihkj_^kl\_gghLZdmx^jm`[mbah[jZ`Z_lRbee_j\ ^jZf_©>hgDZjehkªDhg_qgh klhev]em[hdh_^jm`_kdh_qm\kl\h_^\Zebfh`_l\klj_lblvky\ `bagbb \k_`_Rbee_j^ZegZf yjqZcr__bah[jZ`_gb_lh]hdZdij_^Zgghklv\ ^jm`[_kihkh[gZ\ujZ[hlZlv\ q_eh\_d_hkh[u_ q_jlu b dZq_kl\Z FZjdba IhaZ `_jl\m_l kh[hc jZ^b ^jm]Z ^hg DZjehkZ G_kfhljy gZ kljZo i_j_^ kf_jlvx hg jZ^hklgh b^_l _c gZ\klj_qm Ba _]h mkl fu keurbf dZd hg [ue kqZkleb\ dh]^Z_fmijbreZfukevkiZklb^jm]Z\aylvgZk_[yij_^ty\e_ggh_DZjehkmh[\bg_gb_k ²Gh\hll_i_jvEmqkhegpZhaZjy_lfjZdQlh_kebdhjheyy h[fZgm"Qlh_kebfg_ m^ZklkygZk_[y\aylvDZjehkZ\bgm"IjZ\^hih^h[ghwlhbeb g_l²AgZq_gvyg_bf__l\_^v ^ey dhjhey<k_]^Z ijZ\^hih^h[gh lh qlh ^mjgh BlZd kf_e_c \i_j_^ P_ev klhbl jbkdZ Imklv ba\_klb_ hr_ehfbl NbebiiZ DZd ]jhf kj_^v g_[Z ykgh]h : fg_ h^gh ebrv gm`gh Qlh[\ub]jZe\j_fyDZjehk;_`Zlv\ ;jZ[Zgl >jm]hcijhkeZ\e_gguc^mwl^jma_c\hki_eRbee_j\ [ZeeZ^_©IhjmdZªkx`_lhfdhlhjhc kem`blba\_klgh_ij_^Zgb_<lhjZyq_jlZebqghklbfZjdbaZIhaZh dhlhjhcke_^m_lmihfygmlv ² wlh _]h klj_fe_gb_ d k\h[h^_ Gh hgh \ ]hjZa^h f_gvr_c kl_i_gb \ujZ`Z_lky \ ijbau\_ d [hjv[_ijhlb\]jm[hclbjZgbbq_f`Zehklbd m]g_lZ_fhfmlbjZghfgZjh^mIhaZg_[hj_lkyk lbjZghf hg ebrv aZdebgZ_l _]h ©[h`_kl\_gghª jZkihjy^blvky k\h_c \eZklvx ij_^hklZ\b\ ex^yf ©k\h[h^m fukebª ^Zjmy bf l_f kZfuf gh\mx `bagv <lhjZy q_jlZ ebqghklb fZjdbaZ IhaZ k\b^_l_evkl\m_l lZdbf h[jZahf g_ h ]hlh\ghklb d khpbZevghc [hjv[_ h dhlhjhc j_qv ihc^_l gb`_ Z ebrv h kbe_ khkljZ^Zgby d g_kqZklghfm gZjh^m G_ ebr_gh ihwlbq_kdh]h ij_m\_ebq_gbybah[jZ`_gb_^jm`_kdboqm\kl\lZd`_b mEhi_^_<_]Z< iv_k_©Ljb[jbevyglZª Wgjbd_ kZfhhl\_j`_ggh ex[bl EbaZj^h Dh]^Z EbaZj^h ihiZ^Z_l \ ie_g Wgjbd_ bs_l _]h ih \k_f fhjyf b hd_ZgZf _^bgkl\_ggh ij_^Zgghklv ^jm]m lhedZ_l _]h gZ wlb [_kdhg_qgu_ kljZgkl\by <h \j_fy ihbkdh\ Wgjbd_ kZf ihiZ^Z_l \ ie_g b gZoh^ykv \ lxjvf_ fuke_ggh aZ\_jy_l EbaZj^h qlh _]h ©k_j^p_ `bagv b q_klv ijbgZ^e_`Zl ^jm]mª G_kdhevdh keh\ h agZf_gbluo kh \j_f_g Zglbqghklb ^jmavyo Hj_kl_ b IbeZ^_ =_l_ bah[jZ`Z_l bo ^jm`[m \ ©Bnb]_gbb \ LZ\jb^_ª dZd bkdj_gg__ qm\kl\h ijZ\^Z [_a hkh[hc wfhpbhgZevghc \hklhj`_gghklb >jm`[Z gZqZeZkv _s_ \ jZgg_f ^_lkl\_ k l_o ihj fZevqbdb ^_ebeb ^jm] k ^jm]hf jZ^hklv b ]hj_ < fbgmlm \_ebqZcr_c hiZkghklb ^ey h[hbo Hj_kl ^mfZe lhevdh h IbeZ^_IbeZ^`_ijhbaghkblke_^mxsb_keh\Z©@bagv^eyf_gygZqZeZkv\ lhlfb]dh]^Zy l_[yihex[beªM ?\jbib^Z\ bah[jZ`_gbbwlbo^jma_cg_llZdhcaZ^mr_\ghklbdZdm =_l_< ^jZf_ ?\jbib^Z ©Hj_klª bah[jZ`_gu kdhj__ kh\f_klgu_ ^_ckl\by ^jma_c q_f bo ^moh\gZy [ebahklv < ^jZf_ `_ ©Bnb]_gby \ LZ\jb^_ª h[Z ]hlh\u mf_j_lv ^jm] aZ ^jm]Z gh jmdh\h^bl wlbf ihju\hf g_h^gZ^jm`[Z Hj_kl ij_ke_^m_fuc Wjbggbyfb bs_l kf_jlb g_aZ\bkbfh hl k\hbo ^jm`_kdbo qm\kl\ d IbeZ^m IbeZ^ `_ [hblky [ulv h[\bg_gguf \ ij_^mfure_gghc kf_jlbHj_klZlZddZdhg`_gZlgZk_klj_Hj_klZWe_dlj_b fh][ujZkkqblu\ZlvmgZke_^h\Zlv _]h bfms_kl\h M WkobeZ ©Hj_kl_cyª b KhnhdeZ ©We_dljZª h[Z ^jm]Z mihfbgZxlky ebrv \kdhevav >jm`[Z h[hagZqZ_l ijb\yaZgghklv d lhfm k d_f ^jm`brv Ba ijb\yaZgghklb jh`^Z_lky \_jghklv \ fukeyo b ihklmidZo hkh[_ggh \ l_o kemqZyo ]^_ d g_c ijbkh_^bgy_lky qm\kl\h ^he]Z Hkh[_ggh yjdh bah[jZ`Z_lky lZdZy dhf[bgbjh\ZggZy q_jlZ ebqghklb ijb hibkZgbb \_jghklb \ZkkZeh\ Ijbf_jhf fh`_l kem`blv D_gl \ ©Dhjhe_ Ebj_ª D_gl h^gh\j_f_ggh b h[yaZg k\h_fm ]hkih^bgm fgh]bf b bkdj_gg_ ijb\yaZg d g_fm H^gh ebrv qm\kl\h^he]Zg_fh]eh[uaZklZ\blv_]hihke_^h\ZlvaZdhjhe_fdhlhjufhg[ueba]gZgghd ^he]m a^_kv ijbkh_^bgy_lky ]em[hdZy ijb\yaZgghklv DklZlb \ wlhc `_ ljZ]_^bb R_dkibjZ b =ehkl_j ijhy\ey_l d dhjhex ljh]Zl_evgmx \_jghklv \ dhlhjhc kf_rZebkv b qm\kl\h ^he]Z b ijb\yaZgghklv G_ ke_^m_l dhg_qgh hlh`^_kl\eylv \_jghklv ^jm]m k \_jghklvx gZqZevgbdm ]hkih^bgm <_jghklv \ ^jm`[_ hkgh\ZgZ gZ \aZbfghc ijb\yaZgghklb b gZ \aZbfguo h[yaZl_evkl\Zo LZdh\Z [ueZ \_jghklv :obee_kZ _]h ^jm]m IZljhdem ijh^he`Z\rZyky b ihke_ kf_jlb ihke_^g_]h bf_ggh \_jghklv ² dZd j_amevlZl _]h ij_^Zgghklb ^jm]m b ^he]Z ih hlghr_gbxd _]hiZfylb²lhedZ_l:obee_kZgZf_klv=_dlhjmD ikbobq_kdhckn_j_bgl_j_kh\ b kdehgghkl_c fu ijbqbkey_f b \jZ`^_[gh_ hlghr_gb_ d ex^yf dhlhjh_ ihjhc ^hoh^bl ^h yjdh \ujZ`_gghc g_gZ\bklb G_j_^dh \hagbdZ_l \hbgkl\mxsZy g_l_jibfhklv d khi_jgbdm Hkh[_ggh oZjZdl_jgu ijhy\e_gby ^Zgguo qm\kl\ \ l_o kemqZyo dh]^Z \ gbo ij_h[eZ^Zxl ls_keZ\b_ b `Z^ghklv a^_kv gZ[ex^Z_lky [_klZdlghklv ih\_^_gby ^hoh^ysZy ^h ]jm[hklb <ijhq_f ijbg_l_jibfhklb wlbq_kdb_ ghjfu gZjmrZxlky g_ h[yaZl_evgh Ihke_^g__ gZoh^bl yjdh_\ujZ`_gb_\ h[jZa_<Zj\ZjuI_ljh\guKlZ\jh]bghc©;_kuª>hklh_\kdh]hI_j_^gZfb `_gsbgZlblZgbq_kdbgZ\yau\ZxsZy\k_fk\hx\hexKhk\hbffgh]he_lgbf^jm]hfKl_iZghf Ljhnbfh\bq_fhgZ]h\hjbl©kljh]hb j_adhªiheghklvxih^qbgyy_]hk_[_>Z`_dh]^Z<Zj\ZjZ I_ljh\gZ aZy\ey_l _fm qlh gZf_j_gZ `_gblv _]h q_eh\_dZ o e_l gZ k\h_c ^\Z^pZlbe_lg_c \hkiblZggbp_hg\hajZ`Z_lhq_gvjh[dhjZkl_jygghk Kl_iZg Ljhnbfh\bq [ue m^b\e_g Hg aZbdgmeky [ueh qlh g_\hafh`gh `_ _fm lZd qlh gZ^h`_i_j_]h\hjblvk g_\_klhcgh<Zj\ZjZI_ljh\gZjZa^jZ`bl_evghgZg_]hgZdbgmeZkv² WlhaZq_f"<hi_j\uogbq_]h_s_fh`_l[ulvb g_[m^_l²DZdg_[m^_l²ijh[hjfhlZe `_gbokh\k_fm`_hr_ehfe_gguc²LZdY _s_ ihkfhljx : \ijhq_f \k_ lZd [m^_l dZdy kdZaZeZ b g_ [_kihdhcl_kv y kZfZ __ ijb]hlh\ex <Zf kh\k_f g_aZq_f <k_ gm`gh_ [m^_l kdZaZghb k^_eZghZ \Zflm^Zg_aZq_f>eyq_]h">eydZdhcjheb"B kZfbg_oh^bl_b ibk_fg_ ibrbl_B gbkemomgb ^momijhrm\ZkY lh`_[m^mfheqZlv BlZd dh]^Z `_gbo ohq_l h[f_gylvkyg_kdhevdbfb keh\Zfb k g_\_klhc wlh jZkp_gb\Z_lky dZd©\f_rZl_evkl\hª\ ^_eh<Zj\ZjuI_ljh\guIh^h[gufh[jZahfhgZ\_^_lk_[yb k^jm]bfb ^_ckl\mxsbfbebpZfbjhfZgZGZijbf_jd h^ghcih^jm]_xghklbhgZhlghkblky©dZd^_kihlª ^jm]Z k\h_]h \ dhgp_ dhgph\ \uklZ\ey_l ba ^hfm b[h lhl __ ©jZahqZjh\Zeª Gh wlh hlgx^v g_ ]h\hjbl h [_kk_j^_qbb klhbl _c magZlv h lhf qlh Kl_iZg Ljhnbfh\bq k_jv_agh [he_g hgZ lhlqZk`_fqblkyd g_fmkh\k_ogh]²ihfhqvih^^_j`ZlvM g_]hhgZaZklZ_lfZehagZdhfmx moZ`b\ZxsmxaZ[hevguf`_gsbgmLml`_\ __^mrmaZdjZ^u\Z_lkyih^haj_gb_qlh`_gsbgZ \l_jeZkv \ ^hf ^jm]Z ba dhjuklguo p_e_c b gZ gb \ q_f g_ ih\bggmx Khnvx FZl\__\ gm ba\_j]Z_lkyihlhd[jZgbk ²Y ihl\h_fm[_kklu`_fmebpm^h]Z^ZeZkvqlhwlhluIjhqvg_]h^ycdZQlh[uk_cqZk ^moZ__ g_[ueh\ ^hf_<u]gZlv__g_lhfZlvfhyy l_[y\ hkljh]gZ\_dbmijyqmHgZm`_\ ]hjh^_kb^_eZjZa\ hkljh]__s_ihkb^blB ijhrml_[yohaybgg_kf_lvgbdh]h\imkdZlvihdZ y lmlY ]_g_jZevrZKlZ\jh]bgZb aZgbfZx\_kv^hf: lu]hem[mrdZfg_\h\k_f^Zrvhlq_l K ih^h[gufb `_ keh\Zfb hgZ h[jZsZ_lky b d ^jm]m ly`_eh]h khklhygby dhlhjh]h hgZ kgZqZeZ g_ hkhagZ_l <ijhq_f \kdhj_ \gh\v ih^l\_j`^Z_lky qlh ohly <Zj\ZjZ I_ljh\gZ b g_l_jibfZghkihkh[gZb gZ\gbfZgb_b gZkhqm\kl\b_LZdh_hlghr_gb_ijh[m`^Z_lkym g__d Khg_klhbl_cm[_^blvky\ [_kdhjuklbb^_\mrdbZ \_^vaZiylvfbgml^hwlh]hhgZjm]ZeZKhgx ihke_^gbfb keh\Zfb G_l <Zj\ZjZ I_ljh\gZ aZcf_lky _x kZfZ Khgy g_ [m^_l [hevr_ aZjZ[Zlu\Zlv gZ `bagv `Zedb_ ]jhrb ijh^Z\Zy ©?\Zg]_eb_ª H^gZdh \ kZfhc aZ[hleb\hklb ]_g_jZevrb KlZ\jh]bghc a\mqZl \eZklgu_ ih\_ebl_evgu_ ghldb GbdZdbo \hajZ`_gbc Khgb m`Zkgh bkim]Zgghc ij_^eh`_gb_f \_jg__ ijbdZaZgb_f ihk_eblvky gZ\_db \ Kd\hj_rgbdZo hgZg_ohq_lkemrZlvk ²<k_\a^hjY kZfZ[m^mk lh[hcoh^blvijh^Z\Zlv©?\Zg]_eb_ªG_lm f_gyl_i_jvgbdh]h gZ k\_l_ ² M \Zk h^gZdh _klv kug ² aZf_lbe [ueh AZevpnbr ² G_l m f_gy kugZ ² hlj_aZeZ<Zj\ZjZI_ljh\gZb ²keh\ghgZijhjhqbeZ Ih hlghr_gbx d k\h_fm kugm <Zj\ZjZ I_ljh\gZ gZh[hjhl g_ lhevdh g_ hlebqZ_lky g_l_jibfhklvx gh \_^_l k_[y \_kvfZ jh[dh b kfbjgh b \k_ `_ ijhlb\hj_qby a^_kv g_l \_^v j_qv b^_l h fZl_jbgkdhc ex[\b h ihklhygghc lj_\h]_ fZl_jb aZ _^bgkl\_ggh_ ^bly Dh]^Z g_l_jibfhklv khq_lZ_lky k iheh`bl_evgufb wlbq_kdbfb q_jlZfb oZjZdl_jZ ^Zggh_ h[hagZq_gb_ ih`Zemc g_ kh\k_f mf_klgh lZdb_ ex^b g_ \ughkyl \hajZ`_gbc b ijboh^yl \ khklhygb_ Znn_dlZ ijb \kydhf djblbq_kdhf aZf_qZgbb \ bo Z^j_k G_l_jibfhc `_gsbghc klZ\ys_ch^gZdhi_j_^kh[hc[eZ]hjh^gu_p_eby\ey_lkym =hlo_evnZEbab`_gZdj_klvygbgZ ;_gpZ jhfZg ©>mo \j_f_gbª M`_ \ gZqZe_ jhfZgZ fu magZ_f h lhf qlh _keb fm`Z Ebab kh[bjZxlkyba[jZlv \ fmgbpbiZebl_l lhij_`^_ \k_]h g_h[oh^bfh kijhkblv kZfm Ebab H^gh \ebyl_evgh_ebphaZy\ey_lk ² Y g_ \hajZ`Zx ijhlb\ ba[jZgby ;_gpZ gh lml ij_`^_ \k_]h gZ^h [u k _]h `_ghc ^h]h\hjblvky@_gZm g_]hm`[hevghj_rbl_evgZy`_gsbgZHgZ_fmlZdh_aZih_l_kebhg^Zkl kh]eZkb_[_a__ \_^hfZqlh_fm[_^gy]_g_iha^hjh\blky Lm`_l_fmh[km`^Z_lk kZfhcEbabh^bgba^jma_c;_gpZlh`_qe_gfmgbpbiZebl_lZk ² LZd lu _fm g_ jZaj_rbeZ" ² kijhkbe OZgk ² AgZ_rv ^hjh]Zy ohjhrh _s_ qlh g_ dZ`^ucfm`^he`_gkijZrb\ZlvjZaj_r_gbym `_guihih\h^m\kydh]himklydZ²<hldZd": \_^vfgh]bfhodZdfgh]bffm`vyfwlh[ug_ih\j_^beh>jm]hc[u\Z_l²gmijhklhgb mfZ g_ o\ZlZ_l gb f_ju g_ agZ_l Z \hl ihkh\_lh\Zeky [u k `_ghc ² b k_[_ ^Z b ^_lyf [ueZ [u ihevaZ Ebab h[eZ^Z_l ^jZ]hp_gguf dZq_kl\hf ² khqm\kl\b_f L_f g_ f_g__ \ klj_fe_gbb ^h[blvky k\h_]h hgZ djZcg_ g_l_jibfZ HgZ g_ \ughkbl ex^_c g_ ijbkemrb\Zxsboky d __ keh\Zfklj_fblky\k_oihmqZlvEbab\aju\Z_lkydh]^Zfm`]h\hjbl_ch g_h[oh^bfhklb[ulv l_jibf_c Bf_ggh g_l_jibfhklv y\ey_lky __ oZjZdl_jghc q_jlhc HgZ b \_^_l d lhfm kZfhfm ©j_rbl_evghfm ih\_^_gbxª dhlhjh_ ih^q_jdb\Z_l =hlo_evn <_kvfZ oZjZdl_jgZ dZjlbgZ ih\_^_gby lZf ]^_ [hj_p ih gZlmj_ h[eZ^Z_l d lhfm `_ j_adh \ujZ`_gguf qm\kl\hf kijZ\_^eb\hklb Ihlj_[ghklv \ kijZ\_^eb\hklb khklZ\ey_l h^gm ba \Z`guo q_jl \ kn_j_ gZijZ\e_gghklb bgl_j_kh\ Ih^dj_iey_fZy \hbgkl\_ggufb aZ^ZldZfb hgZ ijb\h^bl d ihklmidZf gZihfbgZxsbf iZjZghbq_kdh_ jZa\blb_ bf_ggh l_ _]h kemqZb dh]^Z q_eh\_d ©[hj_lkyaZk\hbijZ\ZªGh\ lh\j_fydZdiZjZghcyevgu_Zdp_glmbjh\Zggu_ebqghklb[hjxlky aZ lh qlh[u ^hklbqv madh ebqghc p_eb Z g_ aZ h[t_dlb\gmx kijZ\_^eb\hklv ex^b p_evx dhlhjuo y\ey_lky [hjv[Z aZ ijZ\^m bsml bf_ggh h[t_dlb\ghc kijZ\_^eb\hklb Kms_kl\mxl ex^b k kbevguf qm\kl\hf kijZ\_^eb\hklb gh g_ hlebqZxsb_ky h^gh\j_f_ggh [hevrhc khpbZevghcZdlb\ghklvxWlboex^_cagZxl\ madhfdjm]m^jma_c beb k_fvb gh \ h[s_fhgb fZeh [jhkZxlky \ ]eZaZ b \jy^ eb ^Z^ml ibkZl_ex beb ihwlm ih\h^ bah[jZablv bo \ ]Ze_j__ ebqghkl_c ]_jhbq_kdbo Kh\k_f bgh_ iheh`_gb_ \ l_o kemqZyo dh]^Z q_eh\_d hlklZb\Z_l kijZ\_^eb\hklvkhpbZevgmx=_jhck ih^h[ghc dhf[bgZpb_c q_jl ij_^klZ\ey_lky Rbee_jhf \ ebp_ DZjeZ FhhjZ \ ^jZf_ ©JZa[hcgbdbª M FhhjZ h[hklj_ggh_ qm\kl\h kijZ\_^eb\hklb h^gh\j_f_ggh\ g_f`b\_lb [h_\hc^mo]hlh\uckf_klbk imlb\k_ij_]jZ^uLZdhgklZgh\blky ZlZfZghfrZcdbjZa[hcgbdh\Kemqbehkv`_wlhbf_gghlh]^Zdh]^Zhl_phllhedgme_]hgbadh hde_\_lZggh]h kh[kl\_gguf [jZlhf < Fhhj_ ijh[m`^Z_lky g_gZ\bklv fyl_`gbdZ [ebadh klhysZyd ©bgklbgdlm[hjv[uªk ²H_keb[uy fh]ijhljm[blvgZ\_kvfbj\ jh]\hkklZgbyb \ha^mofhjyb a_febih^gylv ijhlb\wlhcklZb]b_g H^gZdh iha^g__ DZje [hj_lky g_ klhevdh aZ kh[kl\_ggu_ ijZ\Z kdhevdh aZ ihijZggu_ ijZ\Z ^jm]bo ex^_c IjZ\^Z bgh]^Z qe_gu _]h [Zg^u ^_ckl\mxl [_kdhgljhevgh gh hg kZf mgbqlh`Z_llhevdhl_oex^_cdhlhju_h[b^_eb^jm]boZ ihwlhfmb aZkem`b\ZxlkijZ\_^eb\h]h \haf_a^byH^bgbajZa[hcgbdh\]h\hjblh g_fk ²Hgm[b\Z_lg_^ey]jZ[_`ZdZdfuH ^_gv]Zohg\b^ghb ^mfZlvi_j_klZek l_oihj dZdfh`_lbf_lvbo\\hex^Z`_lmlj_lv^h[uqbdhlhjZyijbqblZ_lky_fmihijZ\mhgjZa^Z_l kbjhlZf beb `_jl\m_l gZ mq_gb_ lZeZgleb\uf gh [_^guf xghrZf Gh _keb ij_^klZ\ey_lky kemqZcimklblvdjh\vihf_sbdm^_jms_fmrdmjmkhk\hbodj_klvygbebijhmqblv[_a^_evgbdZ \ ahehluo ]ZemgZo dhlhjuc djb\h lhedm_l aZdhgu b k_j_[jhf hl\h^bl ]eZaZ ijZ\hkm^bx beb ^jm]h]hdZdh]h]hkih^bgqbdZlh]h`_jZa[hjZlml[jZl_plufhchg\ k\h_cklbobbLmlkeh\gh q_jl\k_ey_lky\ g_]hdZ`^Zy`bedZ\ g_fklZgh\blkynmjb_c <ke_^aZwlhclbjZ^hcb^_lhibkZgb_dhgdj_lgh]hkemqZydh]^Z]jZnJ_]_gk[mj]\ub]jZe fbeebhggmxly`[m[eZ]h^Zjyiemlgyfk\h_]hZ^\hdZlZEx^_clZdh]hkdeZ^Zkmf_\rboh[hclb aZdhgk ihfhsvxdh\Zjgh]hh[fZgZDZjeFhhjgZdZau\Z_lIjbwlhfhghjb_glbjm_lkyg_gZ lhqlh^ha\he_ghbebaZij_s_ghaZdhghfZ gZlhqlhih^kdZau\Z_l_fmkh[kl\_ggh_qm\kl\h kijZ\_^eb\hklb?]hij_hk\ys_gkl\hiZl_jiulZ_lky\gmrblvFhhjmqlhke_^m_lihgbfZlvih^ ©ijZ\hfªb ©g_^ha\he_gghklvxªFhhjkhagZ_lky\ lhfqlhhg[Zg^blm[bcpZb ih^`b]Zl_ev aZy\eyyh^gh\j_f_gghqlhhlgx^vg_qm\kl\m_laZkh[hc\bguMdZau\ZygZi_jklgb gZ k\hbo iZevpZohg]h\hjblk ² <b^bl_ wlb q_luj_ ^jZ]hp_gguo i_jklgy m f_gy gZ jmd_" KlmiZcl_ `_ b imgdl aZ imgdlhf baeh`bl_ \ukhdhqlbfhfm km^bebsm \eZklghfm gZ^ `bagvx b kf_jlvx \k_ qlh \u m\b^bl_b mkeurbl_Wlhljm[bgkgylk iZevpZh^gh]hfbgbkljZdhlhjh]hy gZhohl_f_jl\uf [jhkbe d gh]Zf _]h ]hkm^Zjy <uoh^_p ba q_jgb hg e_klvx ^h[beky iheh`_gby i_j\h]h ex[bfpZiZ^_gb_ij_^r_kl\_ggbdZihkem`beh_fmklmi_gvxd \ukhdbfihq_klyfhg \kieue gZ ke_aZo h[h[jZgguo kbjhl ² Wlhl ZefZa y kgye k h^gh]h nbgZgkh\h]h kh\_lgbdZ dhlhjuc ijh^Z\Ze ihq_lgu_ qbgu b ijh]hgye hl k\hbo ^\_j_c kdhj[ys_]h h jh^bg_ iZljbhlZ ² Wlhl Z]Zly ghrm\ iZfylv]gmkgh]hihiZdhlhjh]hy ijb^mrbekh[kl\_ggufbjmdZfbaZlhqlhhg\ k\h_cijhih\_^bieZdZekygZmiZ^hdbgd\babpbb : dZd `_ jZkp_gb\Z_l Fhhj ©kijZ\_^eb\hklvª ]hkm^Zjkl\Z kbevguo" <hl qlh hg ]h\hjbl iZl_jmk Baih^g_[_kghc\ukb]jhaguf]hehkhfijhih\_^mxlhgbkfbj_gb_b djhlhklv[h]mex[\b keh\ghh]g_jmdhfmFhehomijbghkylq_eh\_q_kdb_`_jl\uHgbihmqZxlex[\bd [eb`g_fm² b kijhdeylvyfbhl]hgyxl\hkvfb^_kylbe_lg_]hke_ipZhlk\h_]hihjh]Zhgbihghkylkdmihklv ²b hgb`_\ ih]hg_aZahehlufbkebldZfbhimklhrbebkljZgmI_jmbkeh\ghly]eh\uckdhl \ijy]ebyauqgbdh\\ k\hbih\hadb LZdDZjeFhhjjZkdju\Z_lkyRbee_jhfdZdkljZklguc[hj_paZbklbggmxkijZ\_^eb\hklv Ms_fe_gby _]h kZfh]h \ ^jZf_ g_ ij_m\_ebq_gu \_^v ebqguc ijhl_kl DZjeZ FhhjZ y\ey_lky j_Zdpb_cgZg_kijZ\_^eb\hklvjZajmrb\rmx\kx_]h`bagvhlgy\rmxm g_]hb hlpZb g_\_klm b khklhygb_?kl_kl\_gghqlhba\_klgh_f_klh\ ^jZf_hl\_^_ghb [hjv[_FhhjZaZkh[kl\_ggu_ bgl_j_ku²\ dhgp_dhgph\ijbkmsZy_fmg_l_jibfhklvijhlb\ex[hcg_kijZ\_^eb\hklbGh [hjv[Z aZ ©ebqgmx kijZ\_^eb\hklvª [_amkeh\gh hlklmiZ_l gZ aZ^gbc ieZg i_j_^ [hjv[hc aZ khpbZevgmx ijZ\^m G_l_jibfhklb dZd bg^b\b^mZevghc q_jl_ q_eh\_q_kdhc ikbobdb fh`gh ijhlb\hihklZ\blv lZdmx q_jlm dZd fbjhex[b_ Fbjhex[b\u_ ex^b g_ fh]ml qm\kl\h\Zlv \jZ`^_[ghklb ^Z`_ lZf ]^_ wlh [ueh [u iheghklvx h[hkgh\Zgh WlZ q_jlZ ijbkmsZ GZlZgm Fm^jhfm E_kkbg]Z Hg \k_]^Z ijhlb\ dhgnebdlh\ Hg m[_`^_ggh \uklmiZ_l ijhlb\ j_eb]bhaghc g_l_jibfhklb Ex[Zy j_eb]by g_ lhevdh kqblZ_l qlh hgZ h^gZ kihkh[gZ ^Zlv \_qgh_[eZ`_gkl\hghg_ihgbfZ_lb g_ohq_lihgylvgbdZdhc^jm]hcj_eb]bbnZgZlbq_kdb__ ij_ke_^myZ GZlZg`_eZe[u\b^_lvfbjgh_ khkms_kl\h\Zgb_ lj_o \_ebdboj_eb]bc ?\jhiub FZehc :abb ² ojbklbZgkdhc bm^_ckdhc b fZ]hf_lZgkdhc >ey g_]h wlh g_ lhevdh km]m[h l_hj_lbq_kdZyb^_yhgZhl\_qZ_lkmsghklb_]hoZjZdl_jZ_klvijhy\e_gb__]hkZfh\ujZ`_gby ?]h \a]ey^u kh\iZ^Zxl k ih\_^_gb_f \ `bagb qlh hkh[_ggh yjdh ihdZau\Z_l _]h j_Zdpby gZ kljZrgh_g_kqZklv_ijbqbg_ggh__fmojbklbZgZfbk² GZlZg>blyhl<Zky ihemqbe\ >Zjmg_: i_j_^l_f?^\Zeb\Zfba\_klghqlh\ =Zl_ ojbklbZg_ i_j_[beb Hl fZeZ ^h \_ebdZ \k_o _\j__\ ?^\Z eb \Zf ba\_klgh qlh ijb wlhf Ebrbeky y `_gu b k_f_juo P\_lmsbo kugh\_c m [jZlZ \ ^hf_ Y kijylZe bo ² b \k_ hgb k]hj_ebIhkemrgbdH [h`_ijZ\_^gucGZlZgI_j_^\ZrbfIjb[ulb_fe_`Zey ljh_kmlhd < ahe_ \ iueb ² e_`Ze b ieZdZe IeZdZe" G_l fZeh [_kgh\Zeky ijhdebgZe B ]hkih^Z omebe\ dojbklbZgkl\m< g_ijbfbjbfhcg_gZ\bklbdeyekyIhkemrgbd:o\_jx\ZfGZlZg GhgZdhg_pdhfg_JZkkm^hdihkl_i_ggh\ha\jZlbekyB mkeuoZe_]hy djhldbc]hehk ©<_^v _klvgZ^gZfb[h]B \wlhflhevdhBkihegbehkv_]hhij_^_e_gv_L_i_jv²gZgh\ucimlv Y\b\ ^_eZoQlhm`_^Z\ghihklb]gmlhlh[hxDlhohq_l^eylh]hhkms_kl\blvQlheb[hg_ ljm^g__q_fihklb]gmlv<klZ\Zcb^bªY \klZeb ijhbag_kB^mDhev[h`vy\heylZdh\Z LZdZykljZrgZykm^v[Z\uau\Z_lg_gZ\bklvd kh\_jrb\rbfaeh^_ygb_^Z`_m GZlZgZGh\ lh \j_fy dZd ^jm]hc q_eh\_d khojZgbe [u g_gZ\bklv d aeh^_yf gZ \kx `bagv GZlZg \kdhj_ ij_h^he_\Z_l g_gZ\bklv b ]g_\ Hg bkdj_gg_ ijb\yau\Z_lky d ^_\hqd_kbjhl_ ojbklbZgd_ < wlhc ihkeZgghc _fm g_[hf ©^hq_jbª hg \b^bl dhfi_gkZpbx aZ k\hbo mf_js\e_gguo ojbklbZgZfb kugh\_c l _ g_gZ\bklv kh\_jr_ggh qm`^Z gZlmj_ GZlZgZ <hafh`gh E_kkbg] ljZdlh\Zek\h_]hGZlZgZg_kdhevdhbgZq_^jZfZlmj]aZ^Zekyih`Zemcp_evxml\_j^blvijbfZl jZamfZ bf_gghjZamfhf hg klj_fbeky h[hkgh\Zlv l_jibfhklv k\h_]h ]_jhy Gh \_^v jZamfgu_ ihklmidb \hagbdZxl g_ gZ ]hehf f_kl_ Gb bgl_ee_dl gb ^h[jZy \hey g_ kihkh[gu ih[_^blv lZf ]^_ \k_ hklZevgh_ hkh[_ggh Znn_dlu ebqghklb \uklmiZxl ijhlb\ DjblbdZ gZau\Z_l GZlZgZ g_ lhevdh mfguf gh b ^h[juf H^gZdh hkh[h]h ZevljmbafZ fu \ g_f g_ \b^bf Hg jZa^Z_l dhg_qgh fbehklugx gh gZ _]h h]jhfghf [h]Zlkl\_ wlh gbkdhevdh g_ hljZ`Z_lky ©>h[jucª\ wlhfkemqZ_g_agZqbl©s_^jucªGZlZg^h[jihlhfmqlh^\b`ms_cijm`bghc_]h ihklmidh\ y\ey_lky fbjhex[b_ klj_fe_gb_ d fbjm f_`^m ex^vfb Gh dZd fu m\b^bf wlZ bg^b\b^mZevgZy hkh[_gghklv q_eh\_dZ b hdZau\Z_lky kms_kl\_gguf dhfihg_glhf lZdh]h ihgylby dZd ^h[jhlZ < jhfZg_ ©B^bhlª >hklh_\kdh]h h^gbf ba ]eZ\guo ]_jh_\ y\ey_lky wibe_ilbd dgyav Furdbg b^_Zevgh ^h[juc q_eh\_d ^h[jhk_j^_qb_ dhlhjh]h \uau\Z_l \k_h[s__ m^b\e_gb_ Dgyav Furdbg h[eZ^Z_l \k_fb dZq_kl\Zfb ih[m`^Zxsbfb q_eh\_dZ aZsblblv [eb`g_]h ?]h hlebqbl_evgZy q_jlZ ² hq_gv kbevgh_ khqm\kl\b_ ex^yf Dgyav dh \k_f bkiulu\Z_l `Zehklv Wlh ijhy\ey_lky _s_ \h \j_fy ij_[u\Zgby \ R\_cpZjbb dh]^Z hg ijbgbfZ_l mqZklb_ \ [_^ghc ^_\mrd_ hl dhlhjhc \k_ hdjm`Zxsb_ hl\_jgmebkv < wlhl `_ i_jbh^ijhy\ey_lkyb _]hkdehgghklvd khi_j_`b\ZgbxjZ^hklb²hgbkdj_gg_ex[bl^_l_cb aZ[Z\eyykvk gbfbbkiulu\Z_lqbklhk_j^_qgmxjZ^hklv>hklh_\kdbcg_h^ghdjZlghhibku\Z_l ihklmidb FurdbgZijh^bdlh\Zggu_khqm\kl\b_f`ZehklvxEx[h\v d GZklZkv_ Nbebiih\g_ m`_k kZfh]hgZqZeZhdjZr_gZ`ZehklvxZ \ihke_^kl\bbhlex[\bdjhf_`Zehklbgbq_]hb g_ hklZ_lky Dgyav bkiulu\Z_l `Zehklv ^Z`_ d k\hbf ijhlb\gbdZf gZijbf_j d Jh]h`bgm gZkljh_ggh fm d g_fm \jZ`^_[gh Jh]h`bg \ugZrb\Z_l g_dhlhjh_ \j_fy fukev h[ m[bckl\_ dgyay b h^gZ`^u ^Z`_ aZfZob\Z_lky gZ g_]h gh`hf Hl \_jghc kf_jlb dgyay kiZkZ_l lhevdh wibe_ilbq_kdbcijbiZ^hdgZqZ\rbckydZdjZa\ lhlfhf_glFurdbggb jZamg_ih^^Z_lkygZ ijh\hdZpbb Jh]h`bgZ ohlyh[Zhgb ihklhyggh klZedb\Zxlky dZd khi_jgbdb gZ ihq\_ ex[\b d GZklZkv_ Nbebiih\g_ < wlhf kdZau\Z_lky \lhjZy hkh[_gghklv ebqghklb hlebqZxsZy dgyay FurdbgZb ^h[juoex^_c\hh[s_²hlkmlkl\b_\jZ`^_[ghklbg_gZ\bklbd ex^yfhlkmlkl\b_ ^moZ [hjv[u kf_ lZxs_]h aeh k imlb WlZ q_jlZ jh^gbl dgyay k GZlZghf Fm^juf Dgyav kdehgy_lky^Z`_d lhfmqlh[umklmiblvGZklZkvxNbebiih\gmJh]h`bgmhgg_^_eZ_lrZ]h\\ wlhfgZijZ\e_gbblhevdhihlhfmqlh`Ze__l^_\mrdmDgyavohjhrhagZ_lqlhJh]h`bg\ k\h_ \j_fy hlhfklbl GZklZkv_ Nbebiih\g_ b f_klv wlZ [m^_l m`ZkgZ <ijhq_f dgyav bf__l hkgh\Zgbybkiulu\Zlvg_gZ\bklvg_lhevdhd Jh]h`bgm gh b dh fgh]bf ]_jhyfjhfZgZ ex^b qZklhaZ^_\Zxl_]hgZkf_oZxlkygZ^gbfhldjulhgZau\Zxl_]hb^bhlhfFurdbggb ddhfm g_ bkiulu\Z_l \jZ`^_[guo qm\kl\ gbd_f g_ \hafmsZ_lky [he__ lh]h ZgZebabjmy ih\_^_gb_ k\hbo h[b^qbdh\ dgyav g_j_^dh kdehg_g \bgblv k_[y < l_o kemqZyo dh]^Z m g_]h ^he`gu ijhkblvijhs_gbyhgkZf_]hijhkblb[hiheZ]Z_lqlhijhklmihd[uekijh\hpbjh\Zgq_flh\ _]h ih\_^_gbb Dh]^Z ^jm]bf ke_^h\Zeh [u mklu^blvky Furdbg kZf qm\kl\m_l k_[y ijbklu`_ggufWlhlj_lvybg^b\b^mZevgZyhkh[_gghklvhlebqZxsZydgyay²ij_m\_ebq_ggh_ qm\kl\h klu^Z G_dbc fheh^hc q_eh\_d hdZaZe Furdbgm g_agZqbl_evgh_ h^he`_gb_ < agZd [eZ]h^Zjghklb Furdbg ]hlh\ aZieZlblv ©[eZ]h^_l_exª ^_kylv lukyq jm[e_c gh ihke_ wlh]h \_ebdh^mrgh]h ij_^eh`_gby gZqbgZxlky m]jua_gby kh\_klb dgyav `_klhdh dhjbl k_[y aZ lh qlhij_^eh`be^_gv]b\ ©]jm[hcg_hklhjh`ghcnhjf_ªb iha^g__ijhkblijhklblv_]hDh]^Zhg \i_j\u_^_eZ_lij_^eh`_gb_jmdbb k_j^pZGZklZkv_Nbebiih\g_\ lh\j_fy_s_h[udgh\_gghc kh^_j`Zgd_Z hgZ[hjfhq_lqlhlhh[hdZau\Z_fhc_cq_klbdgyav]h\hjbl©Y iheZ]Zxqlh\u fg_ hdZau\Z_l_ q_klv Z g_ y \Zfª Dgyav qZklh djZkg__l hl klu^Z ohly h[t_dlb\gh ^ey wlh]h ih\h^Zb g_l<kihfgbfqlhfuhlf_qZeb\ur_^h[jhlm<Zgbb GZlZgZFm^jh]hghb^_Zevgh ^h[juc q_eh\_d ^he`_g h[eZ^Zlv khq_lZgb_f \k_o lj_o gZa\Zgguo hkh[_gghkl_c B^_Zevguc h[jZa^h[jh]hq_eh\_dZkha^Zgguc\ wlhfjhfZg_>hklh_\kdbf_^\Zebfh`_lkms_kl\h\Zlv\ ^_ckl\bl_evghklbDgyav²k\h_]hjh^ZOjbklhk]hlh\ucihex[blvk\hbo\jZ]h\b ih^klZ\blv ijZ\mx s_dm dh]^Z _]h [vxl ih e_\hc >hklh_\kdbc kZf ]h\hjbl h _]h ©ojbklbZgkdhf kfbj_gbbª B \k_ `_ Furdbg ² g_ ko_fZ g_ h[hehqdZ \gmljb dhlhjhc aZdexq_g ]heuc ijbgpbi k q_f fu \ur_ klZedb\Zebkv m ^jm]bo Z\lhjh\ >hklh_\kdbc ² gZklhevdh kh\_jr_gguc ikboheh] qlh ^Z`_ b^_Zevguc h[jZa hklZ_lky m g_]h q_eh\_dhf l _ hg g_ ij_\jZsZ_l_]h\ mkeh\gmxnb]mjm\ ^_ckl\mxsmxfZkdmG_kfhljygZg_dhlhjh_g_ba[_`gh_ ij_m\_ebq_gb_\k_oq_jlebqghklbh[uqgh_\ jhfZg_fu\ijZ\_kdZaZlvqlhfh`ghhkh[_ggh ohjhrh ijhgbdgmlv \ ikboheh]bx j_Zevgh]h ^h[jh]h q_eh\_dZ _keb agZdhfblvky k g_x ih ©ij_m\_ebq_gbxª >hklh_\kdh]h Ke_^m_l aZf_lblv qlh ^h[ju_ ex^b \ ^_ckl\bl_evghklb g_ y\eyxlky Zdp_glmbjh\Zggufb ebqghklyfb Dhg_qgh \ gbo [hevr_ q_f \ g_^h[juo ex^yo khqm\kl\by d hdjm`Zxsbf hgb ² aZ fbjgh_ jZaj_r_gb_ ex[h]h dhgnebdlZ hgb h[eZ^Zxl b [hevrbfkhagZgb_f^he]Zgh\k_wlbdZq_kl\Zg_ijhy\eyxlky\ qj_af_jghckl_i_gblZdqlh\ p_ehf lbi g_ \uoh^bl aZ jZfdb q_eh\_dZ kj_^g_]h mjh\gy Koh^gmx k dgya_f Furdbguf b^_Zevgmxnb]mjmij_^klZ\ey_lkh[hc:e_rZbajhfZgZ>hklh_\kdh]h©;jZlvyDZjZfZah\uªB a^_kv>hklh_\kdbcbah[jZ`Z_lq_eh\_dZdhlhjuc\k_]^Z\k_ijhsZ_lb dZ`^h]h]hlh\ihex[blv Lhevdhk\hckl\_ggZydgyaxklu^eb\hklvm :e_rbjZa\blZ\ agZqbl_evghf_gvr_cf_j_H^gZdh klZedb\ZykvkhkljZ^Zgb_fk [hevx:e_rZbkiulu\Z_lb `Zehklvb g_h^hebfh_`_eZgb_^Z`_ ihlj_[ghklvihfhqv?kebihfhqvg_m^Z_lky:e_rZhaZ[hq_ghi_qZe_gGZijbf_j_]h^h\h^bl ihqlb^hhlqZygbyly`_eucdhgnebdlf_`^m[jZlvyfbB\Zghfb >fbljb_f\_^vh^bgh[jmq_gk `_gsbghcdhlhjmxex[bl^jm]hcZ dq_fmfh`_lijb\_klblZdZykblmZpbyk G_ gh\u_ eb ih\h^u d g_gZ\bklb b \jZ`^_ \ bo k_f_ckl\_" : ]eZ\gh_ dh ]h _fm :e_r_ `Ze_lv"B qlhdZ`^hfmih`_eZlv"Hgex[blboh[hbogh qlh dZ`^hfm ih`_eZlv kj_^b lZdbo kljZrguoijhlb\hj_qbb"< wlhcimlZgbp_fh`gh[uehkh\k_fihl_jylvkyZ k_j^p_:e_rbg_ fh]eh\ughkblvg_ba\_klghklbihlhfmqlhoZjZdl_jex[\b_x[ue\k_]^Z^_yl_evgucEx[blv iZkkb\ghhgg_fh]\haex[b\hglhlqZk`_ijbgbfZekyb ihfh]Zlv Dh \k_fm :e_r_ lhqgh lZd `_ dZd b Furdbgm g_\_^hfh qm\kl\h \jZ`^u b l_f [he__ g_gZ\bklbHg\k_]^ZgZkljh_gdjhldhfbjhex[b\hHggbdh]^Zg_gZiZ^Z_lgZ^jm]h]hdZd[u _]h gb hkdhj[eyeb Hkh[_ggh oZjZdl_jgh ih\_^_gb_ :e_rb \ kp_g_ _]h kemqZcgh ]h \f_rZl_evkl\Z\ ^jZdmrdhevgbdh\dh]^Zh^bgbagboba[b\Z_l_]hdZfgyfbZ aZl_f^hdjh\b ijhdmku\Z_l_fmiZe_p Ohly:e_rZagZ_lqlhgZiZ^_gb_gZg_]hkh\_jr_gh[_a\kydhcijbqbguhgl_fg_f_g__ g_bkiulu\Z_l]g_\Zd aeh[ghfmfZevqbrd_k :e_rZ aZdjbqZe hl [heb ^_j]Zy bah \k_c kbeu iZe_p FZevqbd \uimklbe _]h gZdhg_p b hlkdhqbe gZ ij_`gxx ^bklZgpbx IZe_p [ue [hevgh ijhdmr_g m kZfh]h gh]ly ]em[hdh ^h dhklbihebeZkvdjh\v:e_rZ\ugmeieZlhdb dj_idhh[_jgme\ g_]hjZg_gmxjmdmH[_jlu\Ze hgihqlbp_emxfbgmlmFZevqbrdZ\k_wlh\j_fyklhyeb `^ZeGZdhg_p:e_rZih^gyegZg_]h k\hc lbobc \ahj ² Gm ohjhrh ² kdZaZe hg ² \b^bl_ dZd \u f_gy [hevgh mdmkbeb" Gm b ^h\hevgu \_^v lZd eb" L_i_jv kdZ`bl_ qlh y \Zf k^_eZe" FZevqbd ihkfhlj_e gZ g_]h k m^b\e_gb_f ² Y ohlv \Zk kh\k_f g_ agZx b \ i_j\uc jZa \b`m ² \k_ lZd `_ kihdhcgh ijh^he`Ze:e_rZ²ghg_fh`_l[ulvqlh[uy \Zfgbq_]hg_k^_eZe²g_klZeb[u\uf_gy lZdfmqblv^ZjhfLZdqlh`_y k^_eZeb q_f\bgh\Zli_j_^\ZfbkdZ`bl_" < ebp_ :e_rb >hklh_\kdbc lZd`_ kha^Ze g_qlh \jh^_ nb]mju OjbklZ GZ wlh _klv g_ihkj_^kl\_ggu_ mdZaZgby b \ kZfhf jhfZg_ F_`^m :e_r_c b JZdblbguf ijhbkoh^bl ke_^mxsbcjZa]h\hjk JZdblbg g_ \u^_j`Ze ² Qlh `_ h[jZlbe ]j_rgbpm" ² aeh[gh aZkf_yeky hg :e_r_ ² ;em^gbpm gZ imlv bklbgu h[jZlbe" K_fv [_kh\ ba]gZe Z" <hl hgb ]^_ gZrb qm^_kZlh ^Z\_rgb_h`b^Z_fu_kh\_jrbebkv²I_j_klZgvJZdblbg²khkljZ^Zgb_f\ ^mr_hlha\Zeky :e_rZ ² Wlh lu l_i_jv aZ ^\Z^pZlv iylv jm[e_c f_gy ^Z\_rgbo ©ij_abjZ_rvª" Ijh^Ze ^_kdZlvbklbggh]h^jm]Z>Z\_^vlug_OjbklhkZ yg_Bm^Z >h[jhfmq_eh\_dm:e_r_JZdblbgijhlb\hihklZ\e_gdZdaeh_gZqZehdZdBm^ZHg\kx^m k__l jZa^hj ba dhlhjh]h `Z`^_l ba\e_qv ^ey k_[y \u]h^m < ^Zevg_cr_f fu klhedg_fky k i_jkhgZ`Zfb aeh[Z dhlhjuo ]hjZa^h [he__ `_klhdZ q_f m JZdblbgZ G_ ebr_g g_dhlhjh]h jhfZglbq_kdh]h ij_m\_ebq_gby b ©^h[jucª q_eh\_d bah[jZ`_gguc ;Zcjhghf \ ^jZf_ ©KZj^ZgZiZeª :kkbjbckdh]h pZjy KZj^ZgZiZeZ \k_ kqblZxl g_^hklhcguf ihlhfdhf ij_^dh\ \hbl_e_c lZd dZd hg gZkljh_g ijhlb\ djh\hijheblguo \hcg ijhlb\ aZ\h_\Zgbc < [j_^h\uo kgZo _fm y\ey_lky fh]mqZy \eZ^uqbpZ _]h ijZ[Z[dZ K_fbjZfb^Z KZj^ZgZiZe gZau\Z_l __ ©qm^h\bs_f kj_^v pZjkl\_ggh]h jh^Zª ©p_ehfm^j_gghc [Z[dhc\_^vfhc \hbgkl\mxs_c K_fbjZfb^hcªIha^g__hgh[jZsZ_lkyd g_clZd©Ijhqv luijZ[Z[db l_gv iylhc djh\Z\hc LZf\ Bg^bbklmiZ\rZyihljmiZfªIhkueZlvex^_cgZkf_jlvihdhjylvk_[_p_eu_gZjh^u" G_l m g_]h ^jm]b_ b^_Zeu ©Emqr_ [ueh[ Qlh[ kb^y \h ^\hjp_ hgZ khldZeZ >_kyldZ ^\Z h^_`^q_flZd[_`ZlvK ^\mfy^_kyldZfbkhe^ZlhklZ\b\<hedZfb \hjhgZfb \jZ`v_caeh[_ Lvful_fk\hbojZ[h\ªKZj^ZgZiZeagZ_lk_[yhgkdehg_gex[blvl\hjblv^h[jhb ijhsZlv [_ajZkkm^kl\h Hg \hkdebpZ_l ©K f_gy ^h\hevgh Dhev y fh]m kgylv k ih^^Zgguo k\hbo Gm`^m b kljZo b ^Zlv bf mf_j_lv kihdhcghª Dh]^Z [jZl _]h `_gu Zkkbjbckdhc pZjbpu gZjmrZ_l ]jZgbpu wlbd_lZ KZj^ZgZiZeZ ebrv gZ f]gh\_gb_ ho\Zlu\Z_l ]g_\ Z aZl_f hg ijhbaghkbl ©Y kgbkoh^bl_e_g b l_ji_eb\ Lu agZ_rv wlh Q_f `_ lu \klj_\h`_g"ª Hg g_ fh`_l[ulv`_klhdbfb dk\hbfkdjulufijhlb\gbdZf²ijb^\hjgufohlyg_khfg_\Z_lky\ bo \bg_ hg hklZ\ey_l bf hjm`b_ h[j_dZy k_[y gZ ]b[_ev FbjjZ _]h \haex[e_ggZy jZ[ugy ]j_qZgdZlZd]h\hjblh[wlhfihklmid_k ²Hgk[be_]hm^Zjhfdj_idbfk gh]B g_]h^yckiZklbkviulZeky[_]kl\hfGhih`Ze_\ h g_f\ ihke_^gbcfb]PZjvkiZk_]hk\hbf\_gphfjbkdmy KZj^ZgZiZe aZklZ\ey_l kljZ^Zlv k\hx `_gm ihex[b\ ]j_qZgdmjZ[ugx gh b kZf hg kljZ^Z_l\b^ykdhj[vpZjbpuAZjbgu;m^mqbm`_[ebahdd ]b[_ebhghj]Zgbam_l[_]kl\h__ b ^_l_c ohly AZjbgZ g_ ohq_l ihdb^Zlv _]h hgZ \k_ _s_ ex[bl fm`Z IhijhsZ\rbkv k g_x b hklZ\rbkvh^bghg]hj_klgh\hkdebpZ_lk ²Fg_evlZdkljZ^ZlvG_ijbqbgy\r_fmfmq_gbcex^yfG_ijZ\^ZK g_cex[bebfu ^jm]^jm]ZHjhdh\ZykljZklvAZjbgZY ^hjh]hjZkieZqb\ZxkvaZl\hbfmq_gvy ?]h \haex[e_ggZy jZ[ugy FbjjZ ^hklhcgZ klhev kZfhaZ[\_ggh]h qm\kl\Z hgZ ij_^ZgZ pZjxb ]h\hjblh k\h_fmgb`_gbbkKZj^ZgZiZe Lu\_^v]h\hjbeZh ihahj_FbjjZ>Zb ebrvfhyex[h\vkbevg_c_]h G_kfhljy gZ \k_ klZjZgby pZjy kiZklb Fbjjm hgZ b^_l k gbf gZ kf_jlv Kha^Z\Zy h[jZa KZj^ZgZiZeZ;Zcjhghkgh\u\ZekygZjZkkdZa_>bh^hjZKbpbebckdh]hdhlhjuchlf_qZ_l\ pZj_ ©`_gkl\_ggu_ q_jluª Fh`_l [ulv wlbf h[tykgy_lky lh qlh ;Zcjhg gZ^_ey_l k\h_]h ]_jhy gZjy^m k fm`_kl\_gghklvx b [eZ]hjh^kl\hf g_dhlhjufb km]m[h `_gkdbfb dZq_kl\Zfb LZd i_j_^l_fdZdhlijZ\blvky\ [hcKZj^ZgZiZekfhljblgZk_[y\ a_jdZehd ebpmeb_fm\h_ggu_ ^hki_ob : \hafh`gh ;Zcjhg ijbibku\Z_l pZjx kh[kl\_ggu_ q_jlu oZjZdl_jZ DZd ba\_klgh ihwl [ue ls_keZ\_g b \k_]^Z klZjZeky [e_kgmlv baukdZgghklvx h^_`^u KZj^ZgZiZe fh`gh kdZaZlv b^_Ze ^h[jh^_l_eb wlh fbjhex[b\uc q_eh\_d \eZ^udZ bkiulu\Zxsbc bkdj_ggxx `Zehklv b khqm\kl\b_ d k\hbf ih^^Zgguf <hh[s_ fu g_ lZd m` j_^dh \klj_qZ_f \ om^h`_kl\_gghcebl_jZlmj_hibkZgbyex^_c^h[juoohlyhgbb g_\k_]^ZgZklhevdhdhehjblgu < ©<hcg_b fbj_ªgZijbf_j[hevrhc^h[jhlhchlebqZ_lkyKhgydhlhjZykZfZ\k_]^ZhklZ_lky \ l_gbHgZ©khi_j_`b\Z_lª\k_jZ^hklbb ]hj_klbk_fvbJhklh\uo\ dhlhjhc\ujhkeZgbdh]^Z hgZg_aZ[u\Z_lh ^he]_\ hlghr_gbbJhklh\uoihqlb[_a[hjv[uhldZau\Z_lkyhlk\hboijZ\gZ fheh^h]hJhklh\Zg_kfhljygZ]hjyqmxd g_fmex[h\vb gZh[_sZgb_dhlhjufhgk_[yk g_x k\yaZe Dhg_qgh gZ jZaju\_ gZklZb\Z_l klZjZy ]jZnbgy b Khgy ihqlb g_ hdZau\Z_l khijhlb\e_gby Ih^h[ghc nb]mjhc g_kdhevdh lsZl_evg__ \uibkZgghc \ ^_lZeyo y\ey_lky <j_gb ba jhfZgZ =hlo_evnZ ©MebZj_g^Zlhjª HgZ lh`_ \hkiblu\Z_lky \ qm`hc k_fv_ gh ijb\yaZgZ d g_c \k_c ^mrhc HgZ lZd`_ g_ ©[hj_lkyª aZ \haex[e_ggh]h dhlhjuc ihex[be __ k\h^gmx k_kljm g_ ^hklhcgmx Meb b \hh[s_ g_ klhysmx ^h[jh]h keh\Z k g_x fu _s_ ihagZdhfbfky ih^jh[g__ M <j_gb _klv \k_ hkgh\Zgby hlghkblvky d g_c \jZ`^_[gh gh hgZ gbq_]hg_ij_^ijbgbfZ_lijhlb\khi_jgbpuD dhgpmjhfZgZ<j_gb\k_`_klZgh\blky`_ghx Meb b ©gZ\k_]^Z hklZ_lky _]h iml_\h^ghc a\_a^hcª G_ f_g__ j_^dh \klj_qZxlky \ om^h`_kl\_gghcebl_jZlmj_b i_jkhgZ`b\hiehsZxsb_aeh_gZqZehlZdb_dZdJbqZj^,,,Y]h ©Hl_eehª g_aZdhgguc kug W^fmg^ ©Dhjhev Ebjª klZj rb_ ^hq_jb dhjhey EbjZ J_]ZgZ b =hg_jbevyk_dj_lZjv<mjf©Dh\Zjkl\hb ex[h\vªRbee_jZM \k_owlboebpg_lkhqm\kl\byd hdjm`Zxsbf d [ebadbf hgb ijbqbgyxl bf `_klhdb_ fmq_gby gbkdhevdh g_ klu^ykv k\hbo ihklmidh\ D l_f dlh klh bl bf ihi_j_d ^hjh]b hgb hlghkylky \jZ`^_[gh k g_gZ\bklvx g_gZ\bklv\ghkblZdlb\gmxghlm\ ijbkmsmxbfaeh[ghklvLZdbfh[jZahf\ ex[hcboq_jl_ fu gZoh^bf ijyfmx ijhlb\h iheh`ghklv ^h[jhl_ >h[jh_ beb aeh_ gZqZeh ijhy\ey_lky \ q_eh\_d_lZf]^_hgh©gZdeZ^u\Z_lkyªgZhij_^_e_ggmxkblmZpbxGZijbf_jaeh[ZJ_]Zgub =hg_jbevb ghkbl kgZqZeZ ^h\hevgh iZkkb\guc oZjZdl_j gh ho\Zq_ggu_ j_\gb\hc ex[h\vx d W^fmg^mhgbklZgh\ylky`_eqgubkiheg_gug_gZ\bklbb ^Z`_dZdlh^vy\hevkdbZdlb\gu< j_Zevghc`bagbaeh[ghklvdZdb ^h[jhlZ\ ih^h[guofZkrlZ[Zog_k\hckl\_ggZex^yfLZdh]h fg_gby \b^bfh [ue b gZijbf_j R_dkibj ² Y]h ]h\hjbl k\h_c `_g_ dh]^Z lZ hib ku\Z_l koh^kl\h k gbf kZfbf g_]h^yy ©Nm Wfbeby hklZ\v" LZdbo ex^_c g_ [u\Z_l IjZ\h wlh g_\hafh`ghª ;e_klys_ ihdZaZgZ kd\_jgZ b gbahklv ^_ckl\bl_evghklb \ ^jm]hf h[jZa_ om^h`_kl\_gghc ebl_jZlmju @hj`_ >xjmZ ² ]_jh_ jhfZgZ ©Fbeuc ^jm]ª FhiZkkZgZ ©Fbeuc^jm]ª²lZdgZau\Zxlwlh]hih`bjZl_ey`_gkdbok_j^_pGhebrv_^bgbpuagZxlqlh >xjmZbeb [Zjhg>xJmZ^_DZgl_evfmevlbfbeebhg_jh[yaZgk\hbfbmki_oZfboheh^ghfm jZkq_lmb qlh^h[bekyhgboihl_jy\g_lhevdhwe_f_glZjgh_khqm\kl\b_d ex^yfghb \kydbc klu^b kh\_klvK oZjZdl_jhfwlh]hlbiZdhlhjh]hfuk ihegufijZ\hffh`_fhij_^_eblvdZd aZdhgq_ggh]hih^e_pZfuagZdhfbfkym`_\ kZfhfgZqZe_jhfZgZdh]^Z>xjmZ \kihfbgZ_lh k\h_ckhe^Zlkdhc`bagb\ :njbd_k² >xjmZg_\hevghijbrebgZiZfylv^\Z]h^Zdhlhju_hgijh\_e\ :njbd_\ aZohemklguo dj_ihklyo gZ x]_ :e`bjZ ]^_ _fm qZklh m^Z\Zehkv h[bjZlv ^h gbldb ZjZ[h\ <_k_eZy b `_klhdZymeu[dZf_evdgmeZgZ_]h]m[Zoijb\hkihfbgZgbbh[h^ghcijh^_ed_lj_fZjZ[Zfba ie_f_gb me_^ZeZg hgZ klhbeZ `bagb aZlh hg b _]h lh\Zjbsb jZa^h[ueb ^\Z^pZlv dmj ^\mo [ZjZgh\ahehlhb ijb\k_flhfp_euoihe]h^Zbf[uehgZ^q_fkf_ylvky QblZl_ev \ kZfhf gZqZe_ fh`_l ij_^iheh`blv dZd \ ^Zevg_cr_f [m^ml kdeZ^u\Zlvky hlghr_gby >xjmZ k `_gsbgZfb lZd dZd FhiZkkZg b a^_kv ke_]dZ ijbhldju\Z_l aZgZ\_k ijhreh]h =ZjgbahggZy kem`[Z [eZ]hijbylkl\h\ZeZ _]h k_j^_qguf ^_eZf ihfbfh f_edbo ih[_^ m g_]h [ueb k\yab k `_gsbgZfb [he__ \ukhdh]h ihe_lZ ² _fm m^Zehkv kh[eZagblv ^hqv ih^Zlgh]h bgki_dlhjZ dhlhjZy ]hlh\Z [ueZ [jhkblv \k_ b b^lb aZ gbf b `_gm ih\_j_ggh]h dhlhjZyiulZeZkvmlhiblvkyk ]hjydh]^Zhg__ ihdbgme IhdZ>xjmZm^Z_lkykgh\Z©jZa\_jgmlvkyª\ IZjb`_ijhoh^blg_dhlhjh_\j_fyihkdhevdm \gZqZe_ _fm ijboh^blky [hjhlvky k ^_g_`gufb b ijhn_kkbhgZevgufb h\eZ^_gb_ ijhn_kkb_c `mjgZebklZ ljm^ghklyfb I_j\uc ihjhd >xjmZ k dhlhjuf fu agZdhfbfky ih oh^m jZa\blby nZ[meu ² wlh hlkmlkl\b_ klu^Z Hg g_ lhevdh g_ hldZau\Z_lky hl ^_g_] dhlhju_ _]h \haex[e_ggZy lZcdhf km_l _fm \ dZjfZg gh ^Z`_ jZkieZqb\Z_lky wlbfb kZfufb ^_gv]Zfb k dZdhclhijhklblmldhcH^gZdh_]h[_kk_j^_qb_\ wlhfi_jbh^__s_g_ijhy\ey_lky;he__lh]h hglZdeZkdh\hh[jZsZ_lkyk fZe_gvdhcEhjbghc^hq_jvxk\h_c\haex[e_gghcqlh\k_kqblZxl _]h ^h[juf qm\kl\bl_evguf q_eh\_dhf Gh b wlb aZ[Z\u k fZeurdhc ihkljh_gu gZ ]hehf jZkq_l_ <h \kydhf kemqZ_ hgZ lZ kZfZy ^_\hqdZ dhlhjZy ijb^mfZeZ _fm ijha\bs_ ©Fbeuc ^jm]ª \ihke_^kl\bb mihjgh mdehgy_lky hl b]j k gbf __ hllZedb\Z_l hl >xjmZ a^hjh\uc bgklbgdl Ih f_j_ jZa\blby ^_ckl\by fu \k_ qZs_ m[_`^Z_fky \ lhf qlh ]_jhc iheghklvx ebr_gkhqm\kl\byd l_fex^yfdhlhjufhggZghkblfhjZevgucbebfZl_jbZevgucms_j[G_lm >xjmZ ^Z`_ we_f_glZjghc ihjy^hqghklb Hg ]em[hdh ihljyk \haex[e_ggmx khh[s_gb_f h k\h_cij_^klhys_c`_gblv[_kgZqZeZhg^_eZe\b^qlhkh`Ze__lh[wlhfghgZkZfhf^_e_k Hg qm\kl\h\Ze k_[y lZd lhqgh k[jhkbe k k_[y g_\_jhylgmx ly`_klv ^Z hg [uek\h[h^_g kiZk_gfh]gZqbgZlvgh\mx`bagv >xjmZ ba jZkq_lZ `_gblky kgZqZeZ gZ ]hkih`_ Nhj_klv_ \^h\_ k\h_]h ^jm]Z G_dhlhju_ ^_lZebgZ\h^yl_]hgZfukevqlhFZ^e_gZkhklhy\ i_j\hf[jZd_h[fZgu\ZeZk\h_]hfm`Zb \hlhlgug_hggZau\Z_lihdhcgbdZk\h_]hemqr_]h^jm]Zlhevdh©wlhljh]hghk_pNhj_klv_ª HgaZy\ey_l`_g_dhlhjmxwlhhkdhj[bl_evgh_\ujZ`_gb_\k_]^Zdhjh[blk LZd\_^vwlhijZ\^Z^hjh]Zy: dhfm\j_^blijZ\^Zl_i_jvdh]^Zwlhljh]hghk_pNhj_klv_ m`_hlhr_ed ijZhlpZf" >xjmZ kqblZ_l qlh _fm \u]h^gh [m^_l \klmiblv \ bglbfgmx k\yav k ]hkih`hc <Zevl_j `_ghck\h_]hr_nZG_kdhevdhjZa[_k_^myk g_chg\\hjZqb\Z_l\ jZa]h\hje_klgu_aZf_qZgby h __]eZaZoZ aZl_fihqlbkbehc\ugm`^Z_l__ dkh`bl_evkl\mk gbfk AZi_j_\aZkh[hc^\_jvhg[jhkbekygZg__dZdobsguca\_jvgZ^h[uqmHgZhl[b\ZeZkv [hjheZkvr_ilZeZ©;h`_fhc;h`_fhcª <kdhj_ihke_wlh]hhghllZedb\Z_lhlk_[yihex[b\rmx_]hfZ^Zf<Zevl_jkZfuf]jm[uf h[jZahflZddZdgZsmiZe[he__j_Zevgu_\hafh`ghklbh[_ki_qblvk\hb^_eh\u_bgl_j_kuGZ wlhljZahggZqbgZemoZ`b\ZlvaZfheh^_gvdhc^hq_jvxlh]h`_r_nZWlhlkhxah[_sZ_ldm^Z [hevr_ q_f khfgbl_evgZy \u]h^Z k\yab k fZfZr_c \_^v <Zevl_j gZagZqbe aZ ^hq_jvx dhehkkZevgh_ ijb^Zgh_ IjZ\^Z qlh[u aZ]j_klb wlb dZiblZeu g_h[oh^bfh hk\h[h^blvky hl `_gu [jZd k dhlhjhc \ k\h_ \j_fy lh`_ ijbg_k _fm b ^_gv]b b ihq_l ² gh \k_ `_ dm^Z kdjhfguf dZiblZeZf FZ^e_gu ^h fbeebhgh\ ^hq_jb <Zevl_jZ" >xjmZ ^h[b\Z_lky hkgh\Zgbc ^eyjZa\h^Z[_kkh\_klgufb gZ]eufh[jZahfIe_\Zlv_fmgZlhqlhhgkZf`_gZlucfm`qbgZ ihklhygghbf__lex[h\gbpmZ lhb ^\mohgmklZgZ\eb\Z_lke_`dmaZ`_ghc< khijh\h`^_gbb ihebp_ckdh]h bgki_dlhjZ hg ijhgbdZ_l \ dhfgZlm \ dhlhjhc gZoh^blky FZ^e_gZ kh k\hbf ex[h\gbdhfFhlb\^eyjZa\h^ZlZdgm`guc>xjmZhg^_j`bll_i_jv\ jmdZoIhke_wlh]hhg hdhgqZl_evghihdhjy_l^hqvr_nZb m\habl__HlqZygb_fZl_jbdhlhjZyl_jy_lg_lhevdh^hqv ghb ex[h\gbdZZ hgZ\k__s_[_amfgh_]hex[blhklZ\ey_l>xjmZkh\_jr_gghoheh^gufHg b gZ wlhl jZa ^_fhgkljbjm_l ihegh_ [_a^mrb_ >xjmZ kh\_jrZ_l _s_ g_ h^gm ]gmkghklv <uoh^db>xjmZkhijh\h`^Zxlky_]h©aehjZ^gufkf_ohfªhgohohq_l\k_]^Zdh]^Z^h[b\Z_lky k\h_]h=hkih`Z<Zevl_jhq_gv^he]hg_fh`_lih\_jblv\ _]hgbahklvk HgZ^he]h^mfZeZh lhfaZf_rZgbebg_aZf_rZg\ bgljb]mwlhlq_eh\_dG_lFbeuc^jm] gZ\_jgh_ gbq_]hg_ agZ_lh \uoh^d_ KxaZggu Gh _keb hg ih^[be __ gZ wlh lh dZdhc `_ hg g_]h^yc =hkih`Z FZj_ev _]h \haex[e_ggZy gZoh^bl ijZ\bevgu_ keh\Z^ey hp_gdb _]h ih\_^_gby k ² AgZqbl lu dZd lhevdh jZahr_eky k `_ghc lml `_ gZqZe aZdb^u\Zlv m^hqdb Z f_gy ij_kihdhcgh^_j`Ze\ dZq_kl\_\j_f_gghcaZf_klbl_evgbpu"²]ey^y_fm\ ebphijh]h\hjbeZ hgZ aeh[guf rhihlhf ² DZdhc `_ lu g_]h^yc DZd `_ wlh y g_ jZkdmkbeZ l_[y k kZfh]h gZqZeZ">Zg_ly gbdh]^Zg_^mfZeZqlhlulZdZy^jygv Dh]^Z`_>xjmZijhkbl__[ulvihhklhjh`g__\ \ujZ`_gbyohgZhdhgqZl_evgh\aju\Z_lky k ² DZd" Lu ohq_rv qlh[u y jZa]h\Zjb\ZeZ k lh[hc \ [_euo i_jqZldZo" <k_ \j_fy lu ihklmiZ_rv kh fghc ihk\bgkdb Z y g_ kf_c keh\Z kdZaZlv" Lu \k_o h[fZgu\Z_rv \k_o wdkiemZlbjm_rv\kx^mkju\Z_rvp\_lugZkeZ`^_gbyb kheb^gu_dmrbb ihke_wlh]hohq_rv qlh[y h[jZsZeZkvk lh[hcdZdk ihjy^hqgufq_eh\_dhf" < nbgZe_ wlhc kp_gu ]jm[hklv >xjmZ ^hklb]Z_l Zih]_y Dh]^Z ]hkih`Z FZj_ev [jhkZ_l \ _]hZ^j_kgZjy^mkhkijZ\_^eb\uflZd`_g_kdhevdheh`guoh[\bg_gbchg`_klhdhba[b\Z_l__ k Hg[jhkbekygZg__ih^fye__ ih^k_[yb ijbgyekyba[b\Zlv__ lZdlhqghwlh[uefm`qbgZ WlZ kp_gZ ih^l\_j`^Z_l qlh >xjmZ h[jmrb\Z_l gZ l_o dlh klhbl _fm ihi_j_d ^hjh]b yjhklgmxg_gZ\bklv< gZqZe_jhfZgZwlhk\hckl\h[uehg_klhev aZf_lghghihkl_i_gghhgh h[jbkh\u\Z_lky \k_ yjq_ Z d dhjuklguf mklj_fe_gbyf l_i_jv ijbkh_^bgy_lky _s_ b Z]j_kkb\gZy lZdlbdZ >xjmZ \hkdebpZ_l ©=hj_ l_f dlh ihf_rZ_l fhbf ieZgZf Y gbdh]^Z gbq_]h g_ ijhsZxª >Z`_ _]h r_n <Zevl_j ihgbfZ_l wlh ©Q_jl \havfb K wlbf fheh^qbdhf gZ^h[ulv\ eZ^Zo>Zwlhlg_]h^yc^Ze_dhihc^_lª< wlhlfhf_gl<Zevl_j_s_g_agZ_lqlh >xjmZ aZfurey_l kjZablv _]h kZfh]h B kgh\Z fu \b^bf qlh ljb keZ]Z_fuo ikbobdb hij_^_eyxl >xjmZ dZd ghkbl_ey aeh]h gZqZeZ g_^hklZlhd khqm\kl\by \ i_j\mx hq_j_^v `Zehklbd ex^yfhlkmlkl\b_klu^Zb l_g^_gpbymkljZgylvij_iylkl\by\klZxsb_gZ_]himlb ijb[_]Zyd q_eh\_dhg_gZ\bklgbq_kdbf\uiZ^Zf?kebfugZoh^bf\ om^h`_kl\_gghcebl_jZlmj_ fgh]h i_jkhgZ`_c dhlhjuf ijbkmsb \k_ ljb dZq_kl\Z wlh h[tykgy_lky hlqZklb ijhn_kkbhgZevgufb khh[jZ`_gbyfb bah[jZ`_gb_ ]gmkgh]h i_jkhgZ`Z hldju\Z_l ibkZl_ex \hafh`ghklv ihdZaZlv ljZ]bq_kdmx km^v[m iheh`bl_evgh]h ]_jhy klhedgm\ lh]h b ^jm]h]h Ex^yf ^h[juf gZb\guf k_j^_qguf aeu_ gZghkyl ms_j[ Z g_j_^dh kem`Zl ijbqbghc bo ]b[_ebl_fkZfufom^h`gbd^hklb]Z_lwnn_dlZljZ]bq_kdhcdheebabb<ijhq_fdZdijZ\beh ih]b[Zxlg_lhevdh^h[ju_ghb aeu_=_jhcFhiZkkZgZ\ wlhfkemqZ_khklZ\ey_lbkdexq_gb_ Fbeuc ^jm] h[fZghf b dh\Zjkl\hf h[_ki_qbe k_[_ ij_\hkoh^gh_ [m^ms__ IjZ\^Z >xjmZ gbdh]h g_ mgbqlh`Ze nbabq_kdb ebrv ]hkih`Z <Zevl_j [ueZ [ebadZ d kZfhm[bckl\m P_ev d dhlhjhc klj_fblky >xjmZ ² ^h[blvky ^_g_] b iheh`_gby Gh g_l hkgh\Zgbc ml\_j`^Zlv qlh wlbw]hbklbq_kdb_mklj_fe_gbyghkyliZlheh]bq_kdbcoZjZdl_jijhklhbohkms_kl\e_gbxgbqlh g_ ij_iylkl\m_l Ex[hfm q_eh\_dm ohl_ehkv [u ^h[blvky ihq_lZ b fZl_jbZevguo [eZ] gh m [hevrbgkl\Zex^_c^hklZlhqghjZa\blhwlbq_kdh_gZqZehqlh[ug_iha\heblvk_[_b^lbd p_eb ©ihljmiZfªGhkms_kl\mxlebpZm dhlhjuols_keZ\b_b `Z^ghklv\uoh^ylaZij_^_eughjfu IjbgZ^e_`bl eb d lZdbf i_jkhgZ`Zf NjZgp Fhhj ba ^jZfu Rbee_jZ" I_j_^ gZfb g_khfg_ggh ^vy\hevkdbc oZjZdl_j Gh \k_ `_ NjZgp ² y\guc bkl_jbd gZjy^m k ijhqbfb dZq_kl\Zfb^h[blvkymki_oZ_fmihfh]Z_l\_ebdhe_igh_bkdmkkl\hijbl\hjylvkyIjbgZebqbb bkl_jbq_kdhc kljmdlmju ebqghklb aeh[gu_ ijhy\e_gby q_eh\_dZ lj_[mxl hkh[h]h ih^oh^Z < lZdbo kemqZyo keh`gh hij_^_eblv hlkmlkl\m_l eb m ^Zggh]h ebpZ wkl_lbq_kdh_ gZqZeh iheghklvx beb fh`_l [ulv hgh bf__lky gh \ul_kg_gh bkl_jbq_kdbfb l_g^_gpbyfb qlh mkm]m[behw]hbklbq_kdb_ijhy\e_gbyD NjZgpmFhhjmfu_s_\_jg_fkyLh`_fh`ghkdZaZlv h LZjlxn_Fhev_jZdhlhjucih^ebqbghc_e_cgh]hoZg`_kl\Zkh\_jrZ_l\_ebqZcrb_]Z^hklb Fh`gh [ueh [u \kihfgblv b h fbe_^b bª ©Lj_o fmrd_l_jh\ª >xfZ bklbgghc ^vy\hebp_ \ h[ebqv_ djZkb\hc `_gsbgu ?_ ijbl\hjkl\h lZd kh\_jr_ggh b m[_^bl_evgh qlh g_khfg_ggh ghkbl bkl_jbq_kdbc oZjZdl_j Fheh^hc hnbp_j N_evlhg ^he`_g ^hklZ\blv fbe_^b d f_klm gZagZq_gby dZd ij_klmigbpm gh fbe_^b gZoh^ykv ih^ dhg\h_f kmf_eZ lZd hie_klb k\h_]h dhg\hbjZqlhhgih^dhg_pimlb\b^bl\ g_cqmlvebg_Zg]_eZij_ke_^m_fh]hgbadbfbex^vfb N_evlhgij_dehgy_lkyi_j_^g_c©dZdi_j_^k\ylhcªhgZ`_lhedZ_l_]hd ]b[_eblZdhcp_ghc ihdmiZy k\h[h^m L_i_jv m g__ jZa\yaZgu jmdb b hgZ fh`_l kh\_jrblv ih^ehklv \ hlghr_gbb DhgklZgpbb ;hgZkv_ dhlhjmx lZd`_ ih^dmiZ_l ©k\h_c ijbl\hjghc Zg]_evkdhc meu[dhcª Dhg_qghijb\e_q_gb_lZdh]hnZdlhjZdZdbkl_jbq_kdb_we_f_glu\ kljmdlmj_ebqghklbfh`_l \ dZdhclh f_j_ kfy]qblv hljbpZl_evgmx hp_gdm ih^eh]h ihklmidZ gh gb \ dh_f kemqZ_ g_ kgbfZ_l __ iheghklvx <ijhq_f bkl_jby g_ ijhlb\hj_qbl gZebqbx m q_eh\_dZ gjZ\kl\_gguo ijbgpbih\ <ur_ fu jZkkfhlj_eb ij_h[eZ^Zgb_ w]hbklbq_kdbo mklj_fe_gbc \ l_o kemqZyo dh]^Z Zevljmbaf _keb b [ue ij_^klZ\e_g lh \ aZqZlhqghf khklhygbb H^gZdh kms_kl\m_l b lZdh_iheh`_gb_dh]^ZkbeZw]hbklbq_kdbobgl_j_kh\ih^Z\ey_l\kydb_ijhy\e_gbyZevljmbafZ ^Z`_ lh]^Z dh]^Z hg aZeh`_g \ q_eh\_d_ Wnn_dl \ h[s_f ijbf_jgh h^bgZdh\ Gh \k_ `_ bgl_gkb\ghklv Zdlb\gh]h ©gZklmiZl_evgh]hª w]hbafZ h[uqgh aZf_lg__ Hkh[_ggh kbevgh jZajmrbl_evgh_ ^_ckl\b_ w]hbafZ kdZau\Z_lky m ex^_c q_klhex[b\uo q_klhex[b_ lZd`_ ijbgZ^e_`bl d kn_j_ klj_fe_gbc b kdehgghkl_c Ij_\hkoh^gmx beexkljZpbx q_klhex[by lZdh]hieZgZ^Z_lgZfKl_g^Zev\ jhfZg_©DjZkgh_b q_jgh_ª<k_fukebb ihklmidb@xev_gZ Khj_eyih^qbg_guq_klhex[b\ufieZgZf>eyg_]hg_k\hckl\_gghiZjZghcyevgh_q_klhex[b_ lZddZdgb ih^hajbl_evghklbgb iZlheh]bq_kdhch[b^qb\hklb\ _]hj_Zdpbyog_lHlkmlkl\m_lb iZjZghcyevgZy [hjv[Z aZ ©ijZ\^mª IjZ\^Z \ jhfZg_ g_h^ghdjZlgh mihfbgZ_lky h lhf qlh @xev_gk g_gZ\bklvxkfhljblgZij_^klZ\bl_e_c\ukr_]hh[s_kl\Zh^gZdh\ wlhfkdZau\Z_lky ebrv ^hkZ^Z q_klhex[pZ gh hlgx^v g_ ijhl_kl m]g_l_ggh]h q_eh\_dZ Ihwlhfm @xev_g gb d dhfm g_ gZkljh_g \jZ`^_[gh b gbdh]^Zg_ qm\kl\m_l k_jv_aghc h[b^u K ^jm]hc klhjhgu _fm qm`^h b `_eZgb_ [ulv \ p_glj_ \gbfZgby k\hckl\_ggh_ bkl_jbdZf Hg g_ kdehg_g d ijbl\hjkl\m gZijhlb\ qZklh nZevrv pZjysZy \ \ukrbo kn_jZo @xev_gm hl\jZlbl_evgZ <g_rgbc [e_kd q_eh\_dZ ^he`_g [ulv ebrv kimlgbdhf m\Z`_gby dhlhjh_ hg \uau\Z_l m hdjm`Zxsbo M`_ \ xghklb @xev_g f_qlZ_l h keZ\_ ?]h b^_Ze ² GZihe_hg k < ijh^he`_gbb fgh]bo e_l g_[ueh dZ`_lky \ `bagb @xev_gZ gb h^gh]h qZkZ dh]^Z [u hg g_ ih\lhjye k_[_ qlh ;hgZiZjl [_a\_klguc b [_^guc ihjmqbd k^_eZeky \eZ^udhc fbjZ k ihfhsvx k\h_c riZ]b WlZ fukev ml_rZeZ _]h \ _]h g_kqZklvyo dhlhju_ _fm dZaZebkv m`Zkgufbb m^\Zb\ZeZ_]hjZ^hklvdh]^Z_fmkemqZehkvq_fmgb[m^vjZ^h\Zlvky <aZbfghklv ]hkih`b ^_ J_gZev @xev_g j_rZ_lky aZ\h_\Zlv lhevdh ba q_klhex[by ?fm m^Z_lkyihemqZlvi_j\h_^hdZaZl_evkl\h__ qm\kl\Zk =hkih`Z^_ J_gZev kh\_jr_ggh mih_ggZy k\h_c ex[h\vx ij_[u\ZeZ \ lZdhf[eZ`_gghf g_\_^_gbb qlh ^Z`_ g_ mij_dZeZ k_[y gb \ q_f <kx ghqv hgZ g_ khfdgmeZ ]eZa kqZklv_ g_ ^Z\Zeh_cmkgmlv@xev_gkjZamaZkgmef_jl\ufkehfkh\_jr_gghbag_fh`_gguclhc[hjv[hc dhlhjmx\ l_q_gb_p_eh]h^gy\_eb\ _]hk_j^p_aZkl_gqb\hklvb ]hj^hklv Dh]^Z\kdhj_ihke_wlh]h]hkih`Z^_J_gZev^_eZ_lhlqZyggmxihiuldmk\h_coheh^ghklvx kljh]hklvx ihj\Zlv k @xev_ghf wlh \uau\Z_l m g_]h g_ kljZ^Zgby Z lhevdh \ukhdhf_jgh_ \hafms_gb_k GZ_]hebp_fh`gh [ueh ijhqblZlv lhevdh ]g_\ b \hafms_gb_ GZ ih^ \b`ghf ebp_ _]h hljZabebkvhkdhj[e_ggZy]hj^hklv]g_\ L_i_jv]hkih`Z^_J_gZevihdhj_gZhdhgqZl_evghhgZbs_lex[\b@xev_gZ_s_[hevr_ ih^h]j_\Zy_]hq_klhex[b_k ;m^v hgZ m\_j_gZ \ ijb\yaZgghklb @xev_gZ fh`_l [ulv __ ^h[jh^_l_ev ihfh]eZ [u _c mklhylv ijhlb\ g_]h Gh k_cqZk dh]^Z hgZ [hyeZkv ihl_jylv _]h gZ\_d hgZ g_ ijhlb\beZkv k\h_fmqm\kl\mb aZ[ueZkv^hlh]hqlhkZfZ\ayeZ@xev_gZaZjmdmdhlhjmxhg\ jZkk_ygghklb iheh`begZkibgdmklmeZ?_`_kl\u\_ebahp_i_g_gbyxgh]hq_klhex[pZDZd_fm ohl_ehkv qlh[ugZg_]hih]ey^_ebk_cqZk\k_wlbagZlgu_ki_kb\u_]hkih^Zdhlhju_aZa\Zgufh[_^hf dh]^Z hg kb^_e k ^_lvfb gZ aZ^g_f dhgp_ klheZ ihkfZljb\Zeb gZ g_]h k lZdhc ihdjh\bl_evkl\_gghc meu[hqdhc ©G_l wlZ `_gsbgZ g_ fh`_l ij_abjZlv f_gy ² kdZaZe hg k_[_ ² Z _keb lZd lh fg_ g_aZq_f ijhlb\blvky __ djZkhl_ b _keb y kZf g_ ohqm ihl_jylv m\Z`_gb_d kZfhfmk_[_y ^he`_gklZlv__ \haex[e_ggufª B \ hlghr_gbyo k FZlbev^hc ^_ ey Fhev @xev_g \gZqZe_ dZd b k ]hkih`hc ^_ J_gZev bs_llhevdhkZfhml\_j`^_gbyHg]h\hjbl\_kvfZkZfhm\_j_ggh©;ueh[uaZ[Z\gh_keb[uhgZ f_gyihex[beZªIhemqb\hlFZlbev^uibkvfhk h[tykg_gb_f\ ex[\bhgbkiulu\Z_lqm\kl\h ljbmfnZk M^h\hevkl\b_\hklhj`_kl\h\ZlvgZ^fZjdbahf^_DjmZa_gmZhdhgqZl_evghih^Z\beh]hehk ^h[jh^_l_eb ² DZd [u y ohl_e qlh[u hg \ur_e ba k_[y ² ]h\hjbe @xev_g ² K dZdhc m\_j_gghklvx gZg_k [u y _fm l_i_jv m^Zj riZ]hc ² B hg k^_eZe klj_fbl_evgh_ ^\b`_gb_ \uiZ^Z²>hkboihjy [ue\ _]h]eZaZoijhklhohem_fdhlhjucjZkojZ[jbekyg_\ f_jmIhke_ wlh]h ibkvfZ y _fm jh\gy ² >Z ² f_^e_ggh ijh^he`Ze hg k dZdbflh g_h[udgh\_gguf keZ^hkljZklb_fkfZdmydZ`^h_keh\h²gZrb^hklhbgkl\Z²fZjdbaZb fhb²[ueb\a\_r_gu b [_^gydiehlgbdbaXjuh^_j`Zeih[_^m I_j\Zyghqvm FZlbev^u\uau\Z_l\ ^mr_@xev_gZ[hevr_ljbmfnq_fkqZklv_ex[\bk ;h`_ \_ebdbc DZdZy jZagbpZ < _]h hsms_gbyo k_cqZk g_ [ueh j_rbl_evgh gbq_]h g_`gh]hWlh[ueijhklh[mjguc\hklhj]q_klhex[byZ @xev_g[ueij_`^_\k_]hq_klhex[b\ Hgkgh\ZklZejZkkdZau\Zlv_cdZdb_m g_]h[uebih^haj_gbydZdb_f_juij_^hklhjh`ghklbhg ijb^mfZeBjZkkdZau\Zyhgh[^mfu\ZedZd[u_fm\hkihevah\Zlvkyieh^Zfbk\h_cih[_^u < ^Zevg_cr_fhlghr_gbyf_`^m@xev_ghfb FZlbev^hcghkyloZjZdl_jg_jh\guclhhgb ex[yl^jm]^jm]Zlhmgb`Zxl\h\kydhfkemqZ_khagZgb_mki_oZm FZlbev^u\ ]hjZa^h[hevr_c kl_i_gb \e_q_l aZ kh[hc m^h\e_l\hj_gb_ ]hj^hklb @xev_gZ q_f iuedb_ ex[h\gu_ i_j_`b\Zgby Kl_g^Zev ijyfh ]h\hjbl h[ wlhf ©Wlh [ueh [hevr_ kqZklv_ q_klhex[by q_f ex[\bª JhfZg Kl_g^Zey ^Z_l gZ]ey^gh_ ij_^klZ\e_gb_ h lhf qlh lZdh_ q_eh\_q_kdh_ q_klhex[b_ <ijhq_f ihwlbq_kdh_ij_m\_ebq_gb_b a^_kv \_kvfZ aZf_lghb[h \jy^ eb fh`gh \klj_lblvky \ ^_ckl\bl_evghklb k lZdhc kbehc mihjkl\hf b ihklhygkl\hf q_klhex[b\uo mklj_fe_gbc Ex^b hkgh\guf klbfmehf dhlhjuo y\ey_lky kbevgh_ q_klhex[b_ \ j_Zevghc `bagb h[eZ^Zxl ^jm]hc kljmdlmjhc ebqghklb ² wlh ebqghklb iZjZghcyevgu_ Q_klhex[b_ @xev_gZ Khj_ey ² wlh q_jlZ kn_ju klj_fe_gbc b kdehgghkl_c HgZ y\ey_lky yjdhc hkh[_gghklvxbg^b\b^mZevghklb@xev_gZghh[jZakha^ZggucKl_g^Ze_fg_^Z_lhkgh\Zgbc ijbqbkeblv @xev_gZ d Zdp_glmbjh\Zgguf ebqghklyf WfhpbhgZevgu_ j_Zdpbb @xev_gZ ihjhcq_j_kqmj[mjgu_fuhlghkbfaZkq_l_kl_kl\_ggh]hihwlbq_kdh]hij_m\_ebq_gby<_kvfZ oZjZdl_jghkhq_lZgb_q_klhex[byb qm\kl\Z^he]ZFum`_agZdhfbebkvk lZdbfkhq_lZgb_fm Dhjg_ey gZ ijbf_j_ _]h Obf_gu hlebqZxs_cky g_ klhev hkljuf khagZgb_f ^he]Z dZd khagZgb_f q_klb ?s_ kbevg__ lZdh_ khagZgb_ q_klb \ujZ`_gh lZf ]^_ khq_lZxlky qm\kl\h ^he]Z ^h\e_xs__ ^Z`_ gZ^ qm\kl\hf klu^Z b q_klhex[b_ kh^jh]Zxs__ky i_j_^ mgb`_gb_f Khq_lZgb_wlbo dhfihg_glh\ fh`ghijhke_^blvgZ ijbf_j_ ^jZfu Ehi_ ^_ <_]Z ©>Zgv ba klZ ^_\mr_dª BkiZgby hlijZ\ey_l \ ?]bi_l klh bkiZgkdbo ^_\mr_d ij_^gZagZqZ_fuo \ `_gu ZjZ[Zf ² lZd \_joh\guc \eZkl_ebg ZjZ[h\ bkihevam_l ijZ\h \abfZlv ^Zgv k ih[_`^_gguo =_jhc iv_ku Gmgvh Hahjbh kgZqZeZ ho\Zq_g \hafms_gb_f ihemqb\ ijbdZa k\h_]h dhjhey ^hklZ\blv©ljZgkihjlªihgZagZq_gbxghaZl_f^he]aZklZ\ey_l_]hih^qbgblvkyjZkihjy`_gbx Hg kZf aZgbfZ_lky ©batylb_fª ba khhl\_lkl\mxsbo k_f_c ^_\mr_d gZ dhlhjuo iZe `j_[bc KeurZ\hiebg_kqZklguom]hgy_fuohgihehg]em[hdh]hkhqm\kl\byghqm\kl\h^he]ZGmgvh i_j_^ dhjhe_f kbevg__ H lhf qlh kms_kl\m_l khagZgb_ ^he]Z b i_j_^ [_^gufb `_jl\Zfb Gmgvh kgZqZeZ g_ aZ^mfu\Z_lky I_j_ehf gZqbgZ_lky [eZ]h^Zjy ih\_^_gbx h^ghc ba ^_\mr_d KZgqb dhlhjZy dklZlb \ nbgZe_ iv_ku klZgh\blky kmijm]hc Gmgvh Ih imlb d ZjZ[Zf KZgqZ \^jm] jZa^_\Z_lky ^hgZ]Z b \ lZdhf \b^_ jZkoZ`b\Z_l ih dhjZ[ex kj_^b ih^jm] b dhg\hy \k_ kqblZxl__ kmfZkr_^r_cH^gZdh\b^yZjZ[h\hgZlhlqZkaZdmlu\Z_lkykgh\Z\ h^_`^uGmgvh ohq_l \uykgblv fhlb\u __ kljZggh]h ih\_^_gby KZgqZ h[tykgy_l gZau\Zy ijb wlhf Gmgvh ©ljmkhfª b ©ihahjhf q_eh\_q_kl\Zª Ba\_klgh qlh `_gsbgu ^jm] i_j_^ ^jm]hf gZ]hlu g_ kl_kgyxlky: i_j_^lZdbfdhg\h_fgZ]hlukl_kgylvkylh`_g_q_]hlZddZddhg\hbjulh_s_b keZ[__b ljmkeb\__ex[hc`_gsbguGhdh]^ZKZgqZm\b^_eZfZ\jh\gZklhysbofm`_kl\_gguo fm`qbg h lml hgZ kjZam gZ[jhkbeZ gZ k_[y h^_`^u LZd q_f `_ hgZ mgbabeZ `_gkdmx q_klv k[jhkb\h^_`^ui_j_^`ZedbfbljmkZfb"Keh\ZKZgqbkbevghaZ^_\Zxlq_klvGmgvhDZd"Hg ]hj^ucjupZjv]_jhcgZa\Zg©[Z[hcªb hp_g_gkhhl_q_kl\_ggbp_c]hjZa^hgb`_q_ffZ\ju" Keh\Z KZgqb ]em[hdh mgb`Zxl Gmgvh Z lhg __ ih\_j]Z_l _]h \ yjhklv Hg deyg_lky djh\vx hlph\ qlh g_ ihl_jibl ba^_\Zl_evkl\Z `_gsbgu Gh _keb hgZ ijZ\Z" LZd \hl agZqbl dm^Z aZ\h^yl kh]eZr_gby b ijbdZau dhjhey :evnhgkh" B Gmgvh hl^Z_l jZkihjy`_gb_ ]hlh\blvky d [hxk fZ\jZfbohlyboiylvkhlZ bkiZgp_\\k_]hkhlgyHgg_[hblkykf_jlbDlhih]b[g_l\ [hxlhl\k_]hgZ\k_]h\uihegblk\ys_gguc^he]i_j_^m]g_lZ_fufb>\Z^he]Z[uehm Gmgvh Hahjbh^he]i_j_^dhjhe_fb ^he]i_j_^m]hgy_fufb\ jZ[kl\hI_j\uc^he]aZlf_\Ze^eyg_]h \k_ Gh dhev kdhjh hdZaZeZkv aZ^_lhc _]h ]hj^hklv hg i_j_kfhlj_e k\hx ihabpbx b ih[_^m h^_j`Zeh lh qm\kl\h ^he]Z dhlhjh_ ih^^_j`b\Zehkv q_klhex[b_f Qm\kl\h q_klb \ >j_\g_f Jbf_ ]^_ \_ebqbx bfi_jbb [ueb ih^qbg_gu \k_ ebqgu_ qm\kl\Z \hiehs_gh Dhjg_e_f \ _]h =hjZpbb \ h^ghbf_gghc ^jZf_ =hjZpbc \ ih_^bgd_ m[be h^gh]h ba \jZ]h\ JbfZ dhlhjuc h[jmq_g k _]h k_kljhc DZfbeehc DZfbeeZ hieZdb\Z_l kf_jlv \haex[e_ggh]h b ho\Zq_ggZy ]hj_f ijhdebgZ_l Jbf Lh]^Z =hjZpbc aZdZeu\Zy k_kljm dbg`Zehf \hkdebpZ_l ©LZdhc m^Zj h`b^Z_l\kydh]hdlhihkf__lhieZdb\Zlv\jZ]h\JbfZª?]hhl_p²q_eh\_dlZdh]h`_kdeZ^Z gZ^ljmihf^hq_jbhgaZy\ey_l©Y g_kh`Ze_xh DZfbee_hgZ[ueZij_klmigbp_cª@_gsbgu\ wlhc iv_k_ ijhlb\hihklZ\e_gu fm`qbgZf `_gZ b k_kljZ =hjZpby \hiehsZxl qm\kl\h q_eh\_qghklb Qm\kl\h ^he]Z b q_klhex[b_ [hjxlky ^jm] k ^jm]hf b \ ^jZf_ ©FbggZ nhg ;Zjgo_evfªE_kkbg]Z]^_©g_\hevgbdhfq_klbªy\ey_lkyfZchjnhgL_eeo_cf<h\j_fy\hcgu hgh[jmqbekyk [h]ZlhcFbgghcnhg;Zjgo_evfghihke_\hcgug_kijZ\_^eb\hh[\bg_gguc\ ijhklmid_\ugm`^_gihdbgmlvZjfbxb mclb\ hlklZ\dmH[_^g_\rbcL_eeo_cfg_kqblZ_lk_[y \ijZ\_`_gblvkygZwlhc^_\mrd_k² Keh\hf km^Zjugy <u g_ ^Zeb fg_ dhgqblv Y ohl_e kdZaZlv _keb m f_gy lZd hkdhj[bl_evghhlgbfmlfg_ijbgZ^e_`Zs___kebfhyq_klvg_[m^_liheghklvx\hkklZgh\e_gZ lh y g_ fh]m km^Zjugy [ulv \Zrbf B[h \ ]eZaZo k\_lZ y g_ ^hklhbg wlh]h Nj_ce_g nhg ;Zjgo_evf aZkem`b\Z_l gbq_f g_ aZiylgZggh]h fm`Z DZdZy p_gZ ex[\b _keb hgZ g_ [hblky gZ\e_qvij_aj_gb_gZk\hcij_^f_l"DZdZyp_gZfm`qbg__keb_fmg_klu^gh[ulvh[yaZgguf \k_fk\hbfkqZklv_f`_gsbg_" Ebrv bkdmkghc lZdlbdhc Fbgg_ m^Z_lky \_jgmlv k_[_ \haex[e_ggh]h b ex[h\v lhj`_kl\m_l gZ^ qj_af_jghc ]hj^hklvx ]_jhy Dh^_dk q_klb hij_^_e_gghc khpbZevghc dZklu gZijbf_j hnbp_jh\ beb klm^_glh\ h[yau\Ze bo bkiulZlv h]jhfgmx ]hj^hklv hl khagZgby ijbgZ^e_`ghklb d g_c Gb ih^ dZdbf \b^hf b gb ijb dZdbo h[klhyl_evkl\Zo ij_^klZ\bl_ev dZklug_kf_emjhgblvaZiylgZlvwlm]hj^hklvLZdg_y\eyxlkyebg_dhlhju_\ur_hibkZggu_ ]_jhb g_ bg ^b\b^mZevghklyfb Z lbiZfb ij_^klZ\eyxsbfb imklv g_kdhevdh ko_fZlbq_kdb b^_b b ijbgpbiu hij_^_e_gghc khpbZevghc dZklu ijhkehcdb" Ba wlbo khh[jZ`_gbc gZf dZ`_lkymf_klgufijb\_klb\ dZq_kl\_beexkljZpbblZd`_i_jkhgZ`baijhklhgZjh^vylZddZd \ wlhfkemqZ_q_eh\_dg_ihgm`^Z_lkyd l_fbebbgufghjfZfih\_^_gbygbdZdbfbdeZkkh\ufb ©ij_^ibkZgbyfbª Wevab kljZggZy [ZljZqdZ ² ]_jhbgy h^ghbf_ggh]h jZkkdZaZ =hlo_evnZ WevabgZgbfZ_lky²\^Zebhljh^bgu²[ZljZqdhcd aZ`blhqghfmdj_klvygbgmA^_kvhgZ\k_f ihgjZ\beZkv__ ex[ylb p_gylGhhgZg_kh]eZrZ_lkyklZlv`_ghcihex[b\r_]h__ iZjgyb[h klu^blkyijbagZlvky\ lhfqlh__hl_p[h]Zlucf_evgbdihkh[kl\_gghc\bg_klZegbsbfB ebrv i_j_^ ebphf kf_jlb ² \haex[e_ggh]h m[b\Zxl dh]^Z Wevab gZoh^blky jy^hf k gbf ² hgZkhagZ_lky_fm\ k\h_fqm\kl\_Ljm^ghij_^klZ\blvk_[_qlh[uex[ysZy^_\mrdZ\ \hijhk_ j_rZxs_f ^ey g__ [m^ms__ ijhy\eyeZ lZdmx klhcdhklv Z emqr_ kdZaZlv mijyfkl\h Gh =hlo_evn ]em[hdbc ikboheh] iulZ_lky h[tykgblv gZf fhlb\u ih\_^_gby ]_jhbgb <Z`g_crbfb \ oZjZdl_j_ Wevab y\eyxlky ^\_ q_jlu ]hj^hklv hlghkysZyky d kn_j_ q_klhex[by b qj_a\uqZcgh mya\bfh_ qm\kl\h ^he]Z IbkZl_ev oZjZdl_jbam_l h[Z we_f_glZ __ ebqghklb^h\hevghh^ghagZqghKgZqZeZfuklZedb\Z_fkyk ]hj^hklvxWevabk H^gZ^hqvhklZeZkv\ ^hf_hlpZkZfZydjZkb\Zyb kZfZy]hj^ZyF_evgbdh\Z^hqv\ kljZg_ HgZmqZkl\h\ZeZ\ ^_lkdboaZ[Z\Zo\ b]jZoih^jhkldh\²hgb[ueb_cg_ih^mr_Z __kqblZeb ]hj^yqdhc@_gboboh^bebk\ZlZlvkyd g_clheiZfbghh^bgdZaZeky_com`_^jm]h]h: iZjgb h[b`Zebkvb ih\kx^mihghkbeb__ ki_kvb aZghkqb\hklv Gh\ ^mr_^h[jhc^hq_jbf_evgbdZ`b\_lb qm\kl\h^he]Zk K ^_lkdbo e_l Wevab ihklhyggh ihfh]ZeZ ih ohayckl\m ^Z lZd wg_j]bqgh y mf_eh qlh jh^bl_eyfijboh^behkvk^_j`b\Zlv__ iueg_]h^blky[h]ZlhcgZke_^gbp_\uihegylvly`_emx jZ[hlmLh]^ZWevabgZqZeZfgh]h_ih^hfm\uihegylvlZcdhflZdqlh[ujh^bl_ebgb hq_fg_ ^h]Z^u\Zebkv Hkh[_gghyjdhbeexkljbjm_lkhq_lZgb_h[hbodZq_kl\oZjZdl_jZke_^mxsbchlju\hd]^_ gZjy^m kh klu^hf dZq_kl\hf ihjh`^Zxsbf qm\kl\h ^he]Z ijhy\ey_lky ]g_\ k\b^_l_evkl\mxsbch jZahqZjh\Zgghc]hj^hklbk ?c dZaZehkv qlh __ k_j^p_ jZaju\Z_lky gZ qZklb qlh \ ]jm^b ]jhfha^ylky f_evgbqgu_ `_jgh\Z ]g_\ klu^ ^mrbeb __ `]eb keh\gh dZe_guf `_e_ahf Kh[jZ\rb_ky \hdjm] ex^b aehjZ^kl\h\Zebihih\h^m__ g_kqZklvywlhhgZhlebqghqm\kl\h\ZeZ^Z`__keb[u_ch[_sZeb \k_khdjh\bsZfbjZhgZ[ug_fh]eZgb h^ghfmbakh[jZ\rbokykdZaZlvijb\_leb\h]hkeh\Z ;m^mqb[ZljZqdhc WevabkhojZgy_lh[ZdZq_kl\Z²b ]hj^hklvb khagZgb_^he]Zk =jm[u_rmldb[ZljZdh\hgZhl\_j]ZeZklhevj_rbl_evghqlhhgbg_hkf_eb\Zebkvboih\lhjylv b[hkeh\hWevabh[eZ^Zehj_^dhc^mr_\ghckbehcg_k\hckl\_gghc`_gkdhfmihemb \k_`_\k_ `_gsbgum\Z`Zeb__HgZgbgZdh]hg_`Zeh\ZeZkvb _kebfh]eZhdZaZlvmkem]m[ZljZdZfbeb [ZljZqdZflh^_eZeZwlhg_aZ^mfu\Zykvdh_dZdmxjZ[hlmWevab\uihegyeZ^Z`_ihlbohgvdm hl \k_o [u\Zeh dlhlh aZ[m^_l ^h^_eZlv gZqZlh_ Z m\b^bl fZkl_j ² g_ij_f_ggh [m^_l jm]Zlvky\hllmllhWevabb kiZkZeZiheh`_gb_ Ohaycd_Wevabg_j_^dhdZaZeZkv©]hj^yqdhcªh^gZdhhgZfbjbeZkvk ^_\mrdhcbaaZlh]h qlhk jZ[hlhclZkijZ\eyeZkvij_\hkoh^ghk Gh \kdhj_ ohaycdZ ihgyeZ qlh \ ebp_ Wevab hgZ h[j_eZ j_^dh_ khdjh\bs_ dhlhjh]h g_ dmibrvgb aZdZdb_^_gv]bWevabg_lhevdh[_amdhjbag_ggh\uihegyeZ\k_qlh_cihjmqZebgh b kZfZ \b^_eZ qlh gZ^h _s_ k^_eZlv \dexqZeZkv \ jZ[hlm g_ h`b^Zy mdZaZgbc ^_eZeZ \k_ [ukljh[_afhe\ghb [_amdhjbag_gghG_mki__lohaycdZh]eygmlvky²b \k_m`_dhgq_ghlhqgh lmlih[u\Zebg_\b^bfu_jmdblhqgh^h[ju_]ghfuihfh]eb =hlo_evn ihdZaZe lZdbf h[jZahf qlh q_klv ^hklhbgkl\h fh]ml [ulv ijbkmsb g_ lhevdh agZlguf ebpZf gh b ijhklhc `_gsbg_ Hkh[_ggh [hevgh [ueh [u Wevab kg_klb g_m\Z`_gb_ ex[bfh]hq_eh\_dZk dhlhjufhgZohq_lihkljhblvk_fvx<hlihq_fmhgZhklZ_lkyg_fhcd _]h fhev[Zfk ²Fg_[uijbrehkv\ukemrb\ZlvjZagu_g_e_klgu_\_sbh[hlp_bebh fh_c[_^ghklb YlhagZxfm`kdhcgjZ\b \ughkblvgZiZ^dbfm`qbgug_gZf_j_gZ²ijbagZ_lkyhgZih^jm]_ Q_klhex[b_ \ khq_lZgbb k qm\kl\hf ^he]Z h[uqgh l_jy_l w]hbklbq_kdbc oZjZdl_j b gZijhlb\ q_eh\_d khq_lZxsbc qm\kl\h ^he]Z k g_l_jibfhklvx fh`_l \ujh^blvky \ [_kihsZ^gh]h ^vy\heZ \ q_eh\_q_kdhf h[ebd_ Fgh]b_ djmigu_ bklhjbq_kdb_ nb]mju fu g_ ]h\hjbf a^_kv h ebqghklyo iZjZghcyevguo aZ\h_\u\Zy \eZklv hlebqZebkv bkdexqbl_evghc Z]j_kkb\ghklvx <_jhylgh a^_kv gm`gZ [ueZ b bajy^gZy kbeZ \heb IbkZl_eb qZklh ^Zxl wkdbagu_ aZjbkh\db lZdbo bklhjbq_kdbo ebp gh hkh[h]h `_eZgby ^_lZevgh jZajZ[hlZlv wlb h[jZau fu g_ gZ[ex^Zeb ;ulv fh`_l j_Zdpbb \ wlbo kemqZyo ij_^klZ\eyxlky om^h`gbdZf kebrdhfg_keh`gufbijbfblb\gufb"GZijbf_jkm^yihbklhjbq_kdbffZl_jbZeZfb Xebc P_aZjv b <Zee_grl_cg kljZklgh `Z`^ml \eZklb b h[Z hq_gv Z]j_kkb\gu H^gZdh R_dkibj \ k\h_c^jZf_ohlyhgZb ghkblgZa\Zgb_©XebcP_aZjvª]hjZa^h[hevr_aZgbfZ_lkym[bcpZfb bfi_jZlhjZ b fklbl_eyfb aZ g_]h q_f bf kZfbf Qlh dZkZ_lky Rbee_jZ lh hg \ agZf_gblhc ljbeh]bb bah[jZ`Z_l <Zee_grl_cgZ kdhj__ g_ [hjphf Z kd_ilbdhf b g_j_rbl_evguf q_eh\_dhfdhlhjuc\_jbl[hevr_\ a\_a^uq_f\ k\hxkh[kl\_ggmxkbem G_kdhevdhkeh\h Nb_kdhWlhl]_gmwakdbcaZ]h\hjsbd]_jhcRbee_jZ©AZ]h\hjNb_kdh\ =_gm_ª [_amkeh\gh \_^_l \_kvfZ bgl_gkb\gmx q_klhex[b\mx [hjv[m gh h^gh\j_f_ggh hg h[eZ^Z_lb j_^dhklguflZeZglhfijbl\hjkl\Zihwlhfmk lhqdbaj_gbyikbobq_kdhcg_evayg_ m\b^_lv\ Nb_kdhbkl_jbq_kdh]hgZqZeZ: wlhgZqZehkZfhihk_[_fh`_l\ua\Zlvklj_fe_gb_d \eZklb <b^bfh [he__ keh`gZy bg^b\b^mZevghklv \ub]jurgZ lZd dZd ^_eZ_l nb]mjm ^ey om^h`gbdZ[he__fgh]hieZgh\hcb ijh[e_fghcq_]hg_evaykdZaZlvh[h[jZa_ijyfhebg_cgh]h \eZklhex[pZ Ih dZdbflh g_ykguf khh[jZ`_gbyf ibkZl_e_c [hevr_ ijb \e_dZ_l [hjv[Z aZ \eZklv `_gsbg Y jZkiheZ]Zx \hafh`ghklvx ijb\_klb ^\Z `_gkdbo h[jZaZ h[_ ]_jhbgb g_ agZxl gb m^_j`m gb ihsZ^u \ k\hbo \eZklhex[b\uo mklj_fe_gbyo < iv_k_ ©;jblZgbdª JZkbgZ G_jhg _s_ lhevdh mki_e ©hldjulvª kibkhd k\hbo `_klhdhkl_c gh _]h fZlv :]jbiibgZ ^h klhcguf ij__fgbdhf dhlhjhc iha`_ hdZ`_lky kug bf__l \ wlhf ^_e_ kheb^guc hiul HgZ [hj_lky aZ \eZklv m`_ ]h^Zfb b bkiheg_ggZy g_gZ\bklb mkljZgy_l \k_o kh k\h_]h imlb FZlv G_jh gZ pbgbqghijbagZ_lky ²Y \bgh\ZlZ\ km^v[_h[hboY \uj\ZeZdhjhgmbajmd;jblZgbdZZ \_^vhgZijbgZ^e_`bl _fm ih ijZ\m dZd kugm bfi_jZlhjZ _]h [jZlZ Xgby qlh klhye fg_ ihi_j_d ^hjh]b ² b[h DeZ\^bc h[_sZe _fm jmdm HdlZ\bb ² y ijbdZaZeZ m[blv qlh[u wlhl [jZd g_ khklhyeky L_f kZfufgZfg_h^ghcab`^_lky\k_\_ebqb_G_jhgZ H^gZdh ^ey g__ ©jh`^_gghc ]hkih^kl\h\Zlvª dZd hgZ kZfZ ]h\hjbl j_qv reZ g_ h lhf qlh[uaZ\h_\Zlv\eZklv^eykugZZ hlhfqlh[u\eZkl\h\Zlv kZfhc Dh]^Z `_ b G_jhg ihagZe \dmk\eZklbb gZqZeihg_fgh]mhlkljZgylvhlg__jh^bl_evgbpmhgZ\klmibeZ\ khxakhk\hbf ij_`gbf ijhlb\gbdhf ;jblZgbdhf b h[jZlbeZ k\hc ]g_\ ijhlb\ G_jhgZ HgZ ]jhabl _fm ih^gylvijhlb\g_]h\hckdhBf_ggh\hckdmhgZij_^hklZ\blj_rZlvdhfmkem`blvbklbgghfm kugmbfi_jZlhjZ;jblZgbdm[hjxs_fmkyaZk\hbaZdhggu_ijZ\ZbebG_jhgm?_g_gZ\bklvd kugm\hajZklZ_l_s_b \ke_^kl\b_lh]hqlhlhl\ex[ey_lky\ Xgbx?kebXgbyklZg_l`_ghc G_jhgZ lh :]jbiibgZ hdhgqZl_evgh ihl_jy_l \eZklv ijb ^\hj_ dhlhjmx gug_rgyy `_gZ G_jhgZ HdlZ\by \k_]^Z [_afhe\gh _c mklmiZeZ HgZ hibku\Z_l ^Zggmx kblmZpbx :ev[bg_ k\h_c gZi_jkgbp_ HdlZ\by ihqlb g_ [u\ZeZ ijb ^\hj_ `beZ \ h^bghq_kl\_ \kydhfm [ueh ba\_klgh \ebygb_ :]jbiibgu \kydbc h[jZsZeky k ijhkv[Zfb ij_`^_ \k_]h d g_c :ev[bgZ mfhey_l:]jbiibgmmdjhlblvk\hc]g_\ghlZih\lhjy_lgZi_jkgbp_Z aZl_fb ;jblZgbdmqlh hgZl\_j^hj_rbeZ[hjhlvky^hdhgpZb imklblv\ oh^ex[u_kj_^kl\ZKugmhgZgZihfbgZ_lh lhfq_fhg_ch[yaZgGhG_jhgij_djZkghagZ_lk\hxfZlvh q_fk\b^_l_evkl\m_l_]hhl\_l ²LZdgZqlh`_lu`Zem_rvky"F_`^mgZfb]h\hjywlbl\hb`Zeh[udZ`^h]hq_eh\_dZ gZ\_^mlgZfukevqlhy kem`beebrvij_^eh]hfZ \eZklbluohl_eZ^eyk_[y Ihke_kf_jlb;jblZgbdZ:]jyiiygZm`_ij_^\b^blqlhG_jhgklZg_lm[bcp_c fZl_jbgh hklZ_lky\_jgZk_[_hgZij_\haghkblhdZaZggmx_xG_jhgmihfhsvb k\hb[eZ]h^_ygby<hllhl kljZrguc]jmaqlh[m^_l^Z\blvgZG_jhgZ^hkZfhckf_jlbH[jZam[blhcfZl_jbg_hklZ\bl _]hgbgZfbgmlmZ m]jua_gbykh\_klbij_\jZlylky\ g_mfhebfuonmjbc LZdq_j_a\kx^jZfmJZkbgZijhoh^yl\eZklhex[b\u_mklj_fe_gby:]jbiibgub __[hjv[Z k khi_jgbdZfbM Dhjg_ey\ ^jZf_©Jh^h]mgZªlZd`_\klj_qZ_f`_gkdbc h[jZa De_hiZljm ² lhevdhg__]bi_lkdmxZ kbjbckdmxpZjbpm²dhlhjZyba`Z`^ukeZ\u]hlh\Zih]m[blv\k_o dlhf_rZ_l_c^h[blvkyp_ebAZh^gh]hbakugh\_cijhk\ZlZgZJh^h]mgZlZd`_ij_l_g^mxsZy gZ ij_klhe b dZd lhevdh [jZd khklhblky De_hiZljZ [m^_l hlkljZg_gZ hl \eZklb PZjbpZ aZfurey_l m[blv Jh^h]mgm Z \ kemqZ_ g_h[oh^bfhklb ih`_jl\h\Zlv b `bagvx kugh\_c < h^ghf ba fhgheh]h\ hgZ fuke_ggh h[jZsZ_lky d Jh^h]mg_ ©Kfhljb `_ dm^Z f_gy aZ\_eh klj_fe_gb_ d pZjkdhfm \_gpmª < ^jm]hf fhgheh]_ ijhju\Z_lky __ yjhklgZy g_gZ\bklv d kugh\vyfdhlhju_hldZau\Zxlky\klmiblvk g_c\ khxaijhlb\Jh^h]mgu©Bd m`Zkmfh_fmy h[gZjm`b\Zx \ h[hbo kugh\vyo fyl_`guc ^mo khi_jgbdh\ h[t_^bgb\rboky ijhlb\ fZl_jbª De_hiZljZ \_ebl m[blv h^gh]h ba kugh\_c Z ^jm]hfm kugm b Jh^h]mg_ kZfZ ih^ghkbl [hdZe k y^hfGh`_jl\hcklZgh\blkyg_kugk g_\_kldhcZ kZfZDe_hiZljZGZjy^mk q_klhex[b_fh^gh ba \Z`g_crbo w]hbklbq_kdbo dZq_kl\ ij_^klZ\ey_l kh[hc dhjuklhex[b_ @Z`^Z gZ`b\u \ qj_af_jghc kl_i_gb \_^_l d kdmihklb Zeqghklb Kdmihklv klhbl \ p_glj_ gh\_eeu FhiZkkZgZ ©>vy\heª FZlv Hghjw e_lgyy klZjmoZ mfbjZ_l Kug dZd jZa \ wlh \j_fy kh[bjZxsbc mjh`Zc kh k\h_]h mqZkldZ hohlgh hklZ\be [u __ h^gm lZd dZd hg hlqZygguc kd\Zeu]Z b [_kihdhblky gZkq_l a_jgZ gh \jZq kljh]h aZij_sZ_l _fm hklZ\eylv [hevgmx [_a ijbkfhljZ b ij_^eZ]Z_lijb]eZkblvkb^_edm[Z[dmJZiwk Kug ^ebgguc lhsbc f_^ebl_evguc dj_klvygbg l_jaZeky khfg_gbyfb k h^ghc klhjhgu hgbkim]Zekym]jhau\jZqZk ^jm]hc_]hkg_^Zehg_bklh\h_kdhib^hfkl\hb \hli_j_fbgZykvk gh]bgZgh]mhgqlhlhkhh[jZ`Zeijbdb^u\Ze[hjfhlZe©Kdhevdh`_hgZ[_j_l[Z[dZJZiw"ª ²kijhkbehg ;Z[dZJZiw^_`mjblm ihkl_ebmfbjZxsboHgZ_s_[he__kdmiZq_fHghjwdZdhlf_qZ_l FhiZkkZgwlh©fhjsbgbklh_qm^hijbjh^uª[uehaeh[ghZeqghb aZ\bkleb\hF_`^m`Z^gufb klZjbdZfbijhbkoh^bl^bZeh]k ²Gmm`luaZ\k_\havfbqhohfK h[_boklhjhgagZqbljbkd[m^_l>hdlhj\_^vijyfh kdZaZe ² \hl\hl dhgqblky ² Dheb lZd [m^_l agZqbl l_[_ ih\_aeh Z fg_ g_l : dheb hgZ ^h aZ\ljZijh^_j`blkyZ lhb ^hevr_agZqblfg_ih\_aehZ l_[_²g_l ;Z[dZJZiwkgZqZeZijbkfZljb\Z_lkyd mfbjZxs_cZ aZl_faZy\ey_lk ©>Zqlh^\Zlh^gygZ\_jgydZihlyg_lZ fh`_lb \k_ljb>Zrvfg_r_klvnjZgdh\aZ\k_ª Hg \hahibe ©R_klv nSDgdR\" r_klv njZgdh\" >Z lu kiylbeZ Y `_ kdZaZe l_[_ \k_]hlh _c hklZehkvqZkh\iylveb[hr_klv[hevr_²gbdZdªB hgbkihjbeb^he]hhlqZygghlhj]mykvGh lZddZdkb^_edZhdhgqZl_evghkh[bjZeZkvmoh^blvb \j_fyrehZ jh`v \_^v kZfZg_ ijb^_l k ihey²Hghjwk^Zeky©GmeZ^ghimklv[m^_lr_klvnjZgdh\aZ\k_ghlhevdhqlh[^hkZfh]h \ughkZIhjmdZf"ª < ^Zevg_cr_f\u]h^ZdZd[m^lhi_j_oh^blgZklhjhgmHghjwk Kb^_edZkijhkbeZ©Gmqlh` fZfZrZij_klZ\beZkv"ª: hghl\_lbeemdZ\hijbsmjb\rbkv ©>Z g_l _c gugq_ [m^lh ihe_]q_ª <kdhj_ hg mr_e ;Z[dZ JZiw g_ gZ rmldm \klj_\h`_ggZy ijb[ebabeZkvd mfbjZxs_cdhlhjZy[ueZ\k_\ lhf`_iheh`_gbbdh\k_fmjZ\gh^mrgZyhgZ ly`_eh ^urZeZ __ ]eZaZ [ueb ihij_`g_fm hldjulu km^hjh`gh k\_^_ggu_ jmdb \k_ lZd `_ e_`ZebgZh^_ye_B kb^_edZihgyeZqlhwlhfh`_lijh^he`Zlvky^\Z^gyq_luj_\hk_fvM`Zk k`Ze __ kdZj_^gh_ k_j^p_ b yjhklv ho\ZlbeZ __ ijhlb\ wlhc obljhc ebku Hghjw dhlhjuc lZd gZ^me__b ijhlb\wlhcdZj]bdhlhjZygbdZdg_`_eZeZmfbjZlvH^gZdhhgZ\ayeZkvaZjZ[hlmb klZeZ `^Zlv g_ kimkdZy ]eZa k fhjsbgbklh]h ebpZ klZjmob Ijboh^be ^hfhc ihaZ\ljZdZlv Hghjw\b^m g_]h[ue^h\hevgucdZd[m^lh ^Z`_gZkf_reb\ucaZl_fhgkgh\Zmr_e \ ihe_ ?fmiheh`bl_evghih\_aehk m[hjdhcoe_[Z :eqghklvb aeh[ZbaaZlh]hqlhhgZhdZaZeZkvh[fZgmlhc[md\Zevgh^mrZl[Z[dmJZiwB hgZ j_rZ_l mkdhjblv dhgqbgm fZl_jb Hghjw I_j_h^_\rbkv q_jlhf hgZ \ wlhf h[ebqv_ ih^gbfZ_lkljZrgucrmfb ]jhohlm eh`ZmfbjZxs_cb lZ^_ckl\bl_evghmfbjZ_lhlkljZoZ Gh\_eeZaZdZgqb\Z_lkykeh\Zfbk B dh]^Z\_q_jhf\_jgmekyHghjwhg_s_aZklZe__ aZfhebl\hcb lml`_\ukqblZeqlhhgZ \k_` lZdb\u`ZeZk g_]hebrgbokmb[hijh\_eZa^_kvljb^gyb h^gmghqvl_gZjZ[hlZeZ \k_]hgZnjZgdh\Z \ueh`blv_cijboh^behkv\k_ FhiZkkZg ihdZaZe a^_kv ^\mo q_eh\_d m dhlhjuo Zeqghklv b kdmihklv hdZau\Zxlky \Z`g_crbfb dZq_kl\Zfb K ikboheh]bq_kdhc lhqdb aj_gby wlb i_jkhgZ`b bah[jZ`_gu [e_klys_ohlygh\_eeZb g_ebr_gZf_klZfbihwlbq_kdh]hij_m\_ebq_gbyH^gZdh_s_kbevg__ qm\kl\m_lky ihwlbq_kdh_ b xfhjbklbq_kdh_ ij_m\_ebq_gb_ \ dhf_^bb Fhev_jZ ©Kdmihcª < `bagb=ZjiZ]hgZkms_kl\m_llhevdhh^gZkljZklv^_gv]bEx^bkf_ykvjZkkdZau\ZxldZdhg h^gZ`^u iulZeky ©k\bklgmlvª h\_k ba k\h_]h kh[kl\_ggh]h klhceZ =ZjiZ]hg ihklhyggh haZ[hq_gl_fqlhdlhlhihoblbl_]h^_gv]bk =ZjiZ]hg ² G_e_]dbc Zo ijZ\h g_e_]dbc ljm^ ojZgblv [hevrb_ ^_gv]b \ k\h_f ^hf_ Ohjhrh lhfm dlh \k_ k\h_ [h]Zlkl\h \eh`bl \ ijb[uevgh_ ^_eh Z ijb k_[_ lhevdh gZ jZkoh^ hklZ\bl Ih^bdZ \hl ijb^mfZc ^Z mkljhc \ dZdhfgb[m^v m]hehqd_ gZ^_`guc lZcgbd : kmg^mdZf ahehlh ^h\_jylv g_evay y gbdh]^Z g_ [m^m ^_j`Zlv _]h \ kmg^mdZo Qlh kmg^md" IjbfZgdZ^ey\hjh\=jZ[bl_ebi_j\uf^_ehf\ kmg^mdihe_aml Hkh[_gghhiZkZ_lky=ZjiZ]hgaZl_lZe_jh\dhlhju_hgaZdhiZe\ kZ^mG_j_^dhhg ijyfh kj_^b jZa]h\hjZ k d_fgb[m^v ih^gbfZ_lky b moh^bl ijh\_jblv g_ aZ[jZebkv eb \ kZ^ \hjuDh]^ZhdZau\Z_lkyqlhlZe_jh\ihobs_gub ijbk\h_gu_]hkughfDe_Zglhf²hg \g_k_[yk ² < ]heh\_ fmlblky G_ agZx ]^_ y dlh y qlh ^_eZx >_gv]b ^_gv]b fhb [_^gu_ ]hem[qbdbjh^gu_^jmavy[_kp_ggu_Ihoblbeb\Zkm f_gyHlgyebfhxhihjmml_r_gb_fh_ fhx hljZ^m Qlh fg_ ^_eZlv l_i_jv \ wlhf fbj_" AZq_f fg_ l_i_jv `blv" <k_ dhgq_gh Ho kf_jlvfhyijbreZMfbjZxmf_jih]j_[_gaZjul\ fh]bemM`_ebgbdlhf_gyg_\hkdj_kbl" >ey^hq_jbk\h_c=ZjiZ]hgih^[bjZ_l\ `_gbobih`beh]hfm`qbgm\_kvfZp_gbfh]hbfih lhcijbqbg_qlhlhl[h]Zlb kh]eZk_g`_gblvkygZ^hq_jb=ZjiZ]hgZWeba_^Z`_[_aijb^Zgh]h <k_\hajZ`_gby<Ze_jZfheh^h]h\haex[e_ggh]h^hq_jbhghlf_lZ_l<Ze_j©[_aijb^Zgh]hª Djhf_ wlh]h Zj]mf_glZ gbqlh [he__ g_ bf__l ^ey =ZjiZ]hgZ agZq_gby Kdmihklv =ZjiZ]hgZ hkh[_ggh ih^q_jdb\Z_lky \ l_o kemqZyo dh]^Z =ZjiZ]hg gZqbgZ_l g_l_jibfh hlghkblvky d ij_iylkl\byf A^_kv i_j_^ gZfb dhf[bgbjh\ZggZy kljmdlmjZ ebqghklb q_eh\_d g_ lhevdh ij_^ijbgbfZ_l\k_\hafh`gh_qlh[uijbmfgh`blvk\hbdZiblZeuhg[_kihsZ^_gb gbk d_fg_ ihkqblZ_lky_kebdlheb[hihiulZ_lky_fm\ wlhfihf_rZlvDmi_pR_cehdbaiv_kuR_dkibjZ ©<_g_pbZgkdbc dmi_pª ij_^klZ\ey_l h^gh\j_f_ggh b hlqZyggh]h kdjy]m b q_eh\_dZ g_l_jibfh]h Hg [_kiZj^hggh ]jm[ \ k\hbo lj_[h\Zgbyo Z \ h^ghf kemqZ_ ^Z`_ aZklZ\ey_l ^he`gbdZ\uklZ\blv\_dk_evkh]eZkghdhlhjhfmlhlh[yam_lky^Zlv\uj_aZlvdmkhdk\h_]hl_eZ _kebR_cehdihlj_[m_lk R_cehd ² Km^bl_ kZfb _keb hg ijhkjhqbl ² Qlh ihevau fg_ hl wlhc g_mklhcdb" Ex^kdh]hfykZnmgl²hlq_eh\_dZ²G_klhevdhklhblb g_lZdihe_a_gDZdhl[udZ[ZjZgZ bevdhaeZIhfhqvohqmqlh[fbehklvaZkem`blvKh]eZk_ghg²ba\hevl_g_l²ijhsZcl_AZ ^jm`[mfg_h[b^hcg_ieZlbl_ Dhg_qgh \ ih\_^_gbb R_cehdZ g_fZemx jhev b]jZ_l g_gZ\bklv d ojbklbZgZf ij_ke_^mxsbf _\j__\ h^gZdh hij_^_eyxs_c q_jlhc y\ey_lky [_am^_j`gZy `Z`^Z gZ`b\u <ur_ ^_g_] ^ey R_cehdZ g_l gbq_]h gZ k\_l_ Dh]^Z _^bgkl\_ggZy ^hqv \f_kl_ kh k\hbf \haex[e_gguf ihdb^Z_l hlph\kdbc ^hf ijbo\Zlb\ k kh[hc ^jZ]hp_gghklb b ^_gv]b hg \hkdebpZ_lk ² M f_gy k[_`ZeZ ^hqv ;m^v hgZ aZ wlh ijhdeylZ G_l lZdh]h g_kqZklvy dZd gZ f_gy h[jmrbehkv >hqv ihoblbeZ q_j\hgpu IjhiZe [jbevygl aZ dhlhjuc y aZieZlbe ^\_ lukyqb ^mdZlh\>\_lukyqb^mdZlh\\ h^ghfwlhf[jbevygl_b _s_^jm]b_^jZ]hp_ggu_dZfgbOhl_e [uyqlh[ufhy^hqve_`ZeZf_jl\hcm gh]fhbok ^jZ]hp_ggufbdZf_gvyfb\ mrZoQlh[u__ ihohjhgbebm fhbogh]Z q_j\hgpuiheh`beb\ ]jh[ M R_dkibjZ hiylvlZdb g_fZeh om^h`_kl\_ggh]h ij_m\_ebq_gby b \k_ `_ hg kha^Z_l \i_qZleyxsmxdZjlbgmikbobdbex^_cdZdbo\ ^_ckl\bl_evghklb_klvg_fZehhgb`_klhdbb g_l_jibfub `b\mllhevdhijbmfgh`_gb_fk\hbo[h]Zlkl\Neh[_j\u\h^blih^h[guch[jZa\ ©=hkih`_ ;h\Zjbª GZ wlhl jZa \ g_f g_l ij_m\_ebq_gbc h^gZdh \ oZjZdl_jbklbd_ fgh]h_ kfZaZghg_q_ldhBf__lky\ \b^mdhff_jkZglE_jwdhlhjuckbkl_fZlbq_kdb\h\e_dZ_lWffm\ k\hxnbgZgkh\mxiZmlbgm?fm m^Z_lkyiheghklvxjZahjblv__Ihke_lh]hdZdhg\ukhkZeba ]hkih`b;h\Zjb\k_qlhfh]hg__ [_a`Zehklghihdb^Z_lhgZ`_dhgqZ_l`bagvkZfhm[bckl\hf < ih\_klb ©>mrZ b ^_gv]bª =hlo_evnZ dj_klvygbg >hjg]jxl gZklhevdh `Z^_g qlh ]hlh\ ©ijh^Zlvª k\hx ^hqv \ `_gu dhfm ihiZeh ebrv [u khj\Zlv aZ g__ dmr ihkheb^g__ < lh `_ \j_fywlhgZlmjZ\eZklgZyg_l_jiysZy\hajZ`_gbckhk\h_c`_ghchg\k_]^Zh[jZsZ_lkydZdk jZ[ug_c <_kvfZ hjb]bgZevguc kihkh[ wdhghfbb ij_^eZ]Z_l klhev `_ \eZklgZy dZd b kdmiZy kmijm]ZRghdZbah^ghbf_gghcgh\_eeu=_[[_ey?_fm`jZkkdZau\Z_lk ² Ih^ dhg_p hgZ aZreZ lZd ^Ze_dh qlh ih^qbgbeZ k\h_c [_j_`eb\hklb ^Z`_ nbabheh]bq_kdb_ nmgdpbb hj]ZgbafZ lZd hgZ aZij_sZeZ fg_ ©g_gm`gmx jZkljZlm wg_j]bbª kbevghh]jZgbqb\Zy\uiheg_gb_fghxkmijm`_kdboh[yaZgghkl_c<k_wlhy\behkvj_amevlZlhf obljhmfghc dZevdmeypbb dhlhjZy ijb\_eZ __ d \u\h^m qlh ihe_ag__ b wnn_dlb\g__ [m^_l bkihevah\Zlvfhbkbeu\ aZgylbbj_f_kehfq_f\ ex[\b ;ueh ijhbeexkljbjh\Zgh [hevrh_ dhebq_kl\h ikboheh]bq_kdbo dZq_kl\ hlghkysboky d kn_j_bgl_j_kh\b kdehgghkl_cG_lbibqgu_dZq_kl\Z\ bgl_jij_lZpbbom^h`gbdh\keh\Zfghc \hh[s_g_[uebaZljhgmlu< `bagbhgb\klj_qZxlkygZklhevdhj_^dhqlhb \om^h`_kl\_gguo ijhba\_^_gbyoh[uqghg_gZoh^ylhljZ`_gbyIha\hexk_[_h^gZdhgZ^_ylvkyqlhfg_m^Zehkv ihdZaZlv dZd yjdh q_eh\_q_kdmx ebqghklv b bg^b\b^mZevghklv hij_^_eyxl ikboheh]bq_kdb_ dZq_kl\Zbf_ggh^Zgghckn_juJ_qvb^_lh q_eh\_q_kdhfoZjZdl_j_\ madhfkfuke_keh\Zl_h lhf dZd q_eh\_d h[uqgh j_Z]bjm_l gZ `bag_ggu_ kh[ulby dZdh\u _]h kdehgghklb d q_fm hg klj_fblkybf_ggh\ wlhckn_j_b aZeh`_guhkgh\uoZjZdl_jZ Bg^b\b^mZevgu_hkh[_gghklb\ kn_j_qm\kl\b \heb Q_eh\_q_kdmxebqghklvfuhij_^_ey_fihgZijZ\e_gghklbZ lZd`_ih \gmlj_gg_cnhjf_ j_Zdpbc b ih \gmlj_gg_c i_j_jZ[hld_ \i_qZle_gbc WlZ kn_jZ gZoh^blky \ \_^_gbb \heb q_eh\_dZk dhlhjhcg_ihkj_^kl\_gghk\yaZguwfhpbhgZevgu_ijhy\e_gbyb[h\he_\u_j_Zdpbb jZa\b\Zxlky ba qm\kl\ b \ueb\Zxlky kgh\Z \ qm\kl\Z GZ wlhf hkgh\Zgbb y b ]h\hjx h kn_j_ qm\kl\ b \heb < wlhc kn_j_ qm\kl\Z ghkyl g_kdhevdh bghc oZjZdl_j q_f \ kn_j_ bgl_j_kh\ b kdehgghkl_cA^_kvhlkmlkl\m_lhj]Zgbqghklvqm\kl\hgb]hjZa^hl_kg__k\yaZgubgl_ee_dlhf D y\e_gbyf kn_ju qm\kl\ b \heb ijbgZ^e_`bl b kihkh[ghklv q_eh\_dZ i_j_jZ[Zlu\Zlv l_ \gmlj_ggb_ijhp_kkudhlhju_g_gZrebk\h_]haZ\_jr_gbyl_\ khklhygbbebq_eh\_d[ukljh ©hk\h[h^blvkyªhllhcwfhpbhgZevgh\he_\hcijh[e_fudhlhjZylj_[m_lj_r_gbybebhg^he]h _s_ [m^_l gZ g_c khkj_^hlhq_g [m^_l aZgbfZlvky j_ne_dkb_c b kZfhZgZebahf Ex^_c ihklhyggh\ha\jZsZxsbokyd k\h_ckljZklbfh`ghkqblZlvex^vfbh[eZ^Zxsbfbwfhlb\guf bgl_ee_dlhf< ©Ba[bjZl_evghfkjh^kl\_ª=_l_h^bgbai_jkhgZ`_cW^mZj^k\hbfih\_^_gb_f ihklhyggh ij_iylkl\m_l ijb_fe_fhfm ^ey \k_o mqZklgbdh\ j_r_gbx dhgnebdlZ Hg ijbgZ^e_`bl d ex^yf dhlhju_ fZeh \a\_rb\Zxl k\hb ihklmidb hgb ^Zxl m\e_qv k_[y kljZklghfmqm\kl\m< hlebqb_hl\he_\h]hfure_gbydhlhjh_hjb_glbjm_lkygZh[t_dlb\gmx kblmZpbx m gbo ij_h[eZ^Z_l ©fure_gb_ jZkdh\Zggh_ª \ dhlhjhf \k_ hij_^_ey_lky wfhpbhgZevgufbihju\Zfb?kebW^mZj^kqZkleb\\ ^Zggucfhf_glhgkh\_jr_gghg_^mfZ_l h lhf qlh iheh`_gb_ \kdhj_ fh`_l baf_gblvky ?keb `_ hg g_kqZkl_g lh g_ bs_l jZamfgh]h \uoh^Z hg ij_^Z_lky gZ^_`^Zf e_]dh i_j_oh^ysbf \ m\_j_gghklv kqZkleb\h]h bkoh^Z Ih^h[gu_ wfhpbhgZevgu_ j_Zdpbb [hevr_ k\hckl\_ggu j_[_gdm q_f \ajhkehfm ihwlhfm \_jhylgh=_l_ibr_lh[W^mZj^_©=h^urebghW^mZj^khojZgye\h\k_fk\h_fh[ebd_g_qlh ^_lkdh_ qlh hkh[_ggh bfihgbjh\Zeh xghc Hllbebbª Ihke_ lh]h dZd Hllbeby \i_j\u_ iha\hebeZ W^mZj^m ijbdhkgmlvky d k_[_ hg ^mfZ_l lhevdh h k\h_f kqZklv_ [m^ms__ dhlhjh_ ij_^klZ\ey_lkykeh`gufb \hfgh]hfkhfgbl_evgufg_kms_kl\m_l^eyg_]hk EmgZ ih^gbfZ_lky gZ^ e_khf L_ieZy ghqv \e_q_l W^mZj^Z gZ ehgh ijb jh^u m g_]h ihlj_[ghklv ih[jh^blv hg k_cqZk kZfuc \a\hegh\Zgguc b kqZkleb\uc kj_^b kf_jlguo Hg oh^bl ih iZjdm gh _fm \ g_f kebrdhf l_kgh ki_rbl \ ihe_ ² hgh hdZau\Z_lky q_j_kqmj ijhklhjguf ?]h lyg_l h[jZlgh \ aZfhd b \hl m`_ hg ih^ hdghf Hllbebb himkdZ_lky gZ dZf_ggu_klmi_gvdbl_jjZku©GZkjZa^_eyxldZf_ggu_kl_gub `_e_agu_aZkh\uª]h\hjblhg kZfk kh[hc©ghgZrbk_j^pZ\f_kl_ª?keb[uhgZklhyeZk_cqZkij_^hfghcfumiZeb[u^jm] >jm]m\ h[tylbyZ qlh_s_gZfgm`gh" KqZklv_i_j_ihegy_lW^mZj^Zhgj_rZ_lk^_eZlv\haex[e_gghckxjijbadh^gxjh`^_gby mkljhb\]jZg^bhagucn_c_j\_jd>jmavym]h\Zjb\Zxl_]hhklZ\blvwlmb^_xlZddZdih^]hlh\dZ n_c_j\_jdZg_[_ahiZkgZghW^mZj^hklZ_lky]emobfd ij_^hkl_j_`_gbyfF_`^ml_fhiZk_gby hijZ\^Zebkv g_kdhevdh q_eh\_d \h \j_fy ijb]hlh\e_gbc miZeb \ \h^m h^bg fZevqbd qmlv g_ ih]b[k RZjehllZ j_rbeZ g_f_^ey hdZaZlv ihfhsv ihl_ji_\rbf b db\gmeZ Hllbebb dhlhjZy ijbkh_^bgbeZkv d g_c Gh W^mZj^ dj_idh k`Z\ __ jmdm \hkdebdgme ©G_m`_eb fu aZdhgqbf wlhl ^_gv \ eZaZj_l_ IjZ\h lu kebrdhf ohjhrZ ^ey jheb k_klju fbehk_j^by Wlb fgbfh mf_jrb_hqgmlkyb [_agZr_cihfhsbZ `b\u_ihklZjZxlkyh[khogmlvª Dh]^Z iha^g__ W^mZj^ magZ_l ba jZa]h\hjZ k RZjehllhc qlh Hllbeby g_ fh`_l klZlv _]h `_ghc hg g_f_^e_ggh hlijZ\ey_lky ^h[jh\hevp_f gZ \hcgm KgZqZeZ hg `Z`^_l h^gh]h ² kf_jlbGh\hlkgh\ZijhkuiZxlkygZ^_`^ub \_jZ\ lhqlh_fm\k_`__s_m^ZklkyaZ\h_\Zlv HllbebxHghibku\Z_lk\h_khklhygb_dZiblZgmk ² Hllbeby \hl dlh ^he`_g [u klZlv fg_ gZ]jZ^hc aZ [hjv[m __ y klZ jZeky aZ\h_\Zlv \ dZ`^hf \jZ`_kdhf ihkljh_gbb \ dZ`^hc ljZgr__ \ dZ`^hc hkZ`^_gghc dj_ihklb Y `Z`^Ze l\hjblvqm^_kZih^lZedb\Z_fuch^gbfebrv`_eZgb_fhklZlvky\ `b\uoqlh[ukh_^bgblvkyk Hllbeb_cWlbqm\kl\ZaZ\eZ^_ebfghcp_ebdhfhgbhojZgyebf_gyhlhiZkghklbL_i_jv`_y qm\kl\mx k_[y q_eh\_dhf ^hklb]rbf p_eb ij_h^he_\rbf \k_ ij_]jZ^u ^hjh]Z d kqZklvx hldjulZHllbebyfhygbqlhg_fh`_lihf_rZlvhkms_kl\e_gbxfh_cf_qlu H^gZdhh[t_dlb\ghij_iylkl\bygbdhbfh[jZahfg_[uebmkljZg_guDh]^ZHllbebyklZ\ klZjr_ Z fh`_l [ulv b \ke_^kl\b_ i_j_g_k_gguo i_qZevguo i_j_`b\Zgbc h[j_lZ_l [he__ aj_euc \a]ey^ gZ \_sb b ohly [u \g_rg_ klZjZ_lky \eZ^_lv kh [hc W^mZj^ ihehg ex[h\guo h`b^Zgbchgg_baf_gbekygb\ q_fk B[hW^mZj^`Z`^Z\rbc[ulvlhevdhk g_x[uem[_`^_gqlh_]h`_eZgb_iheghklvx_x jZa^_ey_lkyZ ihwlhfmhgh`b^Zehlg__ kdhj_cr_]h kh]eZkby ihlhfm qlh ^jm]bo `_eZgbcg_ [uehm g_]hkZfh]h LZdW^mZj^gZijhly`_gbb\k_]hjhfZgZ `b\_lh^gbf ebrv k\hbf qm\kl\hf Ihjhchg \ kbemkeh`b\rbokyh[klhyl_evkl\ihgbfZ_l[_agZ^_`ghklvk\h_]hiheh`_gbyghebrvgZdhjhl dh_\j_fyaZl_fhgkgh\Zho\Zq_gg_h[hkgh\Zggufbf_qlZgbyfbdhlhju__]h\gmlj_ggbc\ahj \b^blm`_hkms_kl\e_ggufbEx^bk ih^h[gufwfhlb\guffure_gb_fhijhf_lqb\u\ k\hbo j_r_ gbyo Ihkdhevdm djbl_jb_f bo ihklmidh\ y\ey_lky qm\kl\h lh j_r_gby g_j_^dh \_^ml d ]b[_evguf ihke_^kl\byf LZdZy hijhf_lqb\hklv g_h[^mfZgghklv ihklhyggh qm\kl\m_lky \ ^_ckl\byoW^mZj^ZWfhlb\guffure_gb_fh[eZ^Z_lb ^jm]hc]_jhc=_l_²W]fhgl<gZqZe_ fh`_lihdZaZlvkyqlhhgZdp_glmbjh\ZggZyebqghklv hlebqZxsZyky wdkljZ\_jlbjh\Zgghklvx Gh \ ^Zevg_c r_f m[_`^Z_fky qlh wlh g_ lZd ^_eh \ lhf qlh W]fhgl \iheg_ kihkh[_g kZfhklhyl_evgh fukeblv <h \j_fy ^he]bo [_k_^ k :ev[hc hg h[gZjm`b\Z_l b fm`_kl\h b jZamfgu_ b^_b Z \ jy^_ kemqZ_\ fh`_l hp_gblv [m^ms__ g_ om`_ k\h_]h ijhlb\gbdZ G_ ih^^Z_lky hg b jZaebqguf \ebygbyf kh klhjhgu qlh klhev oZ jZdl_jgh \ kemqZyo wdkljZ\_jlbjh\Zgghklb ?]h ^jm] <bev]_evf HjZgkdbc gZklhcqb\h hl]h\Zjb\Z_l _]h ijbgylv ijb]eZr_gb_ :ev[u dhlhjh_ fh`_l ih\e_qv aZ kh[hc _]h ]b[_ev gh W]fhgl \k_ `_ g_ hldZau\Z_lkyhlk\h_]hj_r_gbyH^gZdhfgh]h_jh^gblW]fhglZk W^mZj^hfDZdb W^mZj^hg hldZau\Z_lkyhlg_ijbylguoly`_euofuke_cW^mZj^g_`_eZ_l\_jblv\ lhqlh_fmgbdh]^Zg_ aZ\h_\ZlvHllbebxW]fhglg_\_jblqlh_]hkqZkleb\hck\h[h^ghc`bagbqlhlhm]jh`Z_l B h[hbowlZihabpbyijb\h^bld hijhf_lqb\ufihklmidZfm W]fhglZwlh[jhkZ_lky\ ]eZaZ_s_ [hevr_ q_f m W^mZj^Z dhlhjuc \k_ `_ bkiulu\Z_l gZ k_[_ \ebygb_ b mfgbpu `_gu b ^_eh\blh]h ^jm]Z M W]fhglZ `_ gZ ijhly`_gbb \k_c ^jZfu gZ[ex^Zxlky j_Zdpbb dhjhldh]h aZfudZgby Ihkdhevdm hiZkghklv m]jh`ZxsZy _fm kh klhjhgu :ev[u gb \ q_f dhgdj_lgh g_ ijhy\ey_lky hg ij_^Z_lky k\hbf qm\kl\Zf b g_kfhljy gZ ij_^hkl_j_`_gb_ <bev]_evfZ ihiZ^Z_l\ eh\mrdmM`_\ ijbkmlkl\bb:ev[uhg_s_jZaihklmiZ_lhijhf_lqb\h< lh\j_fy dZd \hjhlZ aZ gbf aZdjuebkv b imlv gZaZ^ m`_ [ue hlj_aZg hg \_^_l djZcg_ g_hklhjh`guc jZa]h\hj kh k\hbf \jZ]hf \ j_amevlZl_ dhlhjh]h m :ev[u \ jmdZo hdZau\Zxlky dZd [u q_ldh knhjfmebjh\Zggu_bfkZfbfimgdluh[\bg_gbyijhlb\g_]h`_:ev[ZijyfhaZy\ey_l_fmqlh hgkebrdhfg_hklhjh`ghjZkdju\Z_lk\h_k_j^p_qlhhgkZfh[\bgy_lk_[y_s_[he__`_klhdh q_fwlhk^_eZe[uaeh[gucb dh\Zjgucijhlb\gbd ?]h ihql_gguc ^jm] Heb\Z dhlhjh]h hg gZau\Z_l ©klZjbdhfª ² q_eh\_d k_jv_aguc b \^mfqb\uc W]fhgl kijZrb\Z_l _]h \k_]^Z eb hg lZd \a\_rb\Ze k\hb ihklmidb" G_m`_eb hg Heb\Zgbdh]^Zg_kh\_jrZejbkdh\Zggh]h\hkoh`^_gbygZ\_jrbgm"G_m`_ebgb \h^ghc[bl\_ hgg_l_jyejZkkm^hqghklb"JZa\_hgg_agZ_lqlhlhldlhihklhygghhiZkZ_lkyaZk\hx`bagv m`_ f_jl\_p K\hbfb keh\Zfb W]fhgl ijhlb\hihklZ\ey_l ihju\bklhklv wfhlb\ghklv dZd hkgh\gmx q_jlm k\h_c gZlmju lj_a\hfm \a\_rb\Zgbx jZafure_gbyf Wlbf j_adh ih^q_jdb\Z_lky ZglZ]hgbklbqghklv h[_bo q_jl Dh]^Z kug :ev[u \jmqZ_l W]fhglm kf_jlguc ijb]h\hjhgijbgbfZ_l_]h[_aijhl_klZ©D q_fmjZa^mfu\Zlvl_fdlh^_ckl\h\Zlvg_fh`_l"ª F_`^ml_fjZa^mfvyb ZgZeba\ iheh`_gbbW]fhglZ[ueb[u_kl_kl\_ggufh`_lebq_eh\_dg_ jZafureylv h lhf dZd hg ih k\h_c g_hklhjh`ghklb ihiZeky gZ m^hqdm kf_jl_evghfm \jZ]m" Hijhf_lqb\hklv W]fhglZ oZjZdl_jbam_l hkh[uc bg^b\b^mZevguc kdeZ^ ]_jhy gh g_ ^Z_l hkgh\Zgbc hlg_klb _]h d Zdp_glmbjh\Zgguf ebqghklyf Qlh \u^_ey_l _]h gZ nhg_ ijhqbo ex^_c"Ij_`^_\k_]hljZ]bq_kdZykm^v[ZG_aZgbfZchgklhev\ukhdh]hiheh`_gbyhggbdhfm g_[jhkZeky[u\ ]eZaZb\hafh`gh[eZ]hihemqghb kqZkleb\hijh`be[u`bagvH^gZ`^uhg kijZrb\Z_l Heb\m ^ey q_]h q_eh\_dm `blv" Heb\_ qm`^h gZkeZ`^_gb_ f]gh\_gb_f gh jZ^b q_]hlh]^Z`blv"JZ^bm\_j_gghklb\ ke_^mxs_ff]gh\_gbb"<_^vke_^mxs__f]gh\_gb_kgh\Z [m^_laZiheg_ghhiZk_gbyfbZgZebahffjZqgufbfukeyfb< dZq_kl\_dhgljZklZk W]fhglhf =_l_ \u\h^bl <bev]_evfZ HjZgkdh]h dZd hklhjh`gh]h \^mfqb\h]h ZgZeblbdZ \k_]^Z \a\_rb\Zxs_]h\ fukeyo[m^ms__< ^jZf_kh^_j`blkyg_kdhevdhaZf_qZgbcihih\h^mgZlmju <bev]_evfZ ^jm]Z W]fhglZ dhlhjuc lZd gZ g_]h g_ihoh` <hl gZijbf_j keh\Z h g_f FZj]ZjbluIZjfkdhcijZ\bl_evgbpuGb^_jeZg^h\k ² KdZaZlv hldjh\_ggh y [hxkv ijbgpZ HjZgkdh]h b fg_ kljZrgh aZ W]fhglZ G_ h ohjhrbo ^_eZo ^mfZ_l ijbgp HjZgkdbc aZfukeu _]h \^Zev ijh klbjZxlky hg kdjul_g dZd [m^lh \k_ ijbgbfZ_l gbdh]^Z g_ \hajZ`Z_l b k ]em[hqZcrbf ihql_gb_f k \_ebdhc hklhjh`ghklvx^_eZ_lqlh_fmm]h^gh <bev]_evfHjZgkdbckZflZd\ukdZau\Z_lkyh k_[_k ²W]fhglm`_fgh]he_lfg_]g_l_lk_j^p_kha^Z\r__ky\hdjm]gZkiheh`_gb_\_s_cY klhx \k_ \j_fy dZd [u gZ^ rZofZlghc ^hkdhc b gb h^gh]h oh^Z ijhlb\gbdZ g_ kqblZx fZeh\Z`gufB dZd^hkm`b_ex^bk \_ebqZcr_c hklhjh`ghklvx^hbkdb\Zxlky lZcg ijbjh^u lZd y kqblZx i_j\hc aZ[hlhc h[yaZgghklvx dZ`^h]h dgyay ² ijhgbdgmlv \ \haaj_gby b gZf_j_gby\k_oiZjlbc Hkh[_ggh yjdh wlh kdZau\Z_lky \ ^bZeh]_ kh^_j`Zs_f gZ klhcqb\h_ ij_^hkl_j_`_gb_ W]fhglmfu\b^bfdZdlsZl_evgh\k_h[^mfZghijbgp_fW]fhgl`_klZ\bl<bev]_evfm\ \bgm _]hqj_af_jgmxkdehgghklvd ]em[hdhfmZgZebamg_gm`gh_dhiZgb_ \ b^_yo B \k_ `_ `bagv ihdZau\Z_lqlhW]fhgl[ueg_ijZ\lZddZdhiZk_gby<bev]_evfZHjZgkdh]hk[uebkvIjbgpg_ fbaZgljhi hg ijhklh jZamfgh hklhjh`_g Iha^g__ dh]^Z fu [m^_f jZkkfZljb\Zlv ^\Z oZjZdl_jg_crbo h[jZaZ K_j\Zgl_kZ >hg DbohlZ b KZgqh IZgkm i_j\h]h ² k _]h bgljh\_jlbjh\Zgghklvx \lhjh]h ² dZd lbibqgmx wdkljZ\_jlbjh\Zggmx ebqghklv fu m[_^bfky qlh gb W]fhgl gb <bev]_evf HjZgkdbc gbkdhevdh g_ ihoh`b gZ gbo GZa\Zggu_ bg^b\b^mZevgu_ dZq_kl\Z hijhf_lqb\hklv b hklhjh`ghklv gZoh^ylky \ l_kghc k\yab k hihkj_^h\Zggufb qm\kl\Zfb Wlb qm\kl\Z lZd`_ mqZkl\mxl \ nhjfbjh\Zgbb ebqghklb Hkh[h ke_^m_l mihfygmlv h qm\kl\bl_evguo beb \i_qZlebl_evguo ebqghklyo LZdhc ebqghklvx y\ey_lky xguc =Zggh ba jhfZgZ ©;m^^_g[jhdbª LhfZkZ FZggZ ?s_ [m^mqb fZe_gvdbf j_[_gdhfhg\b^_ekljZrgu_kguhldhlhjuoijhkuiZeky\_kv\ oheh^ghfihlmHgkhqbgy_l f_eh^bbkb^yaZjhye_fb wlh^hklZ\ey_l_fmdm^Z[hevr_jZ^hklbq_fb]jugZiehsZ^d_kh k\_jklgbdZfb < rdhe_ _fm g_ijbylgh \k_ [_a^moh\gh_ \ kihjl_ =Zggh \b^bl ]jm[h_ gZqZeh K\hbonbabq_kdbkbevguokhmq_gbdh\\k_]^Z]hlh\uo\klmiblv\ ^jZdm=Zgghkbkl_fZlbq_kdb ba[_]Z_l Hl_p iulZ_lky ² g_ kh\k_f m^Zqgh ² ijbmqblv kugZ d klhedgh\_gbyf k kmjh\ufb klhjhgZfb`bagbH^gZ`^uhgihjmqZ_l=ZgghijhqblZlvgZk_f_cghfijZa^gbd_klbobghg_ mki_efZevqbdijhbag_klbijb]hklyoaZ]eZ\b_dZdhl_pj_adhi_j_[b\Z_lk ²Ww^jm]fhcWlhgb gZqlhg_ihoh`_JmdbluaZq_flhkeh`begZ`b\hl_gZ\Zebeky gZ jhyev Ij_`^_ \k_]h ² klhc k\h[h^gh =h\hjb k\h[h^gh Ih^bdZ \klZgv lZf f_`^m ihjlv_jZfb=heh\m\ur_Himklbjmdb >Ze__ hl_p \gh\v g_h^ghdjZlgh i_j_[b\Z_l _]h k\hbfb aZf_qZgbyfb b ihmq_gbyfb \_^v xghrZ^he`_gklZlvl\_j^ufgZklhysbffm`qbghc=Zggh`_ih^dhg_p\_kvho\Zq_gkljZohf b m`_ g_ \ khklhygbb ijhbag_klb gb keh\Z Qbklmx jZ^hklv hg kihkh[_g bkiulZlv lhevdh \h \j_fy dZgb dme gZ [_j_]m fhjy A^_kv hg aZ[u\Z_l h `_klhdhklyo `bagb b fh`_l iheghklvx hl^Zlvkyh[s_gbxk ijbjh^hck Gh \k_]^Z mfg__ \_jgmlvky d fhjx k_klv gZ dhgp_ fheZ ebphf d hldjulhfm ]hjbahglm fZoZlv ieZldhf [hevrbf km^Zf kdhevaysbf fbfh b kemrZlv dZd fZe_gvdb_ \hegu e_i_qml qlhlhie_kdZykvh ih^gh`v_fheZb \kyg_h[tylgZy^Zevihegblkywlbf\_ebqZ\ufb eZkdh\uf rmfhfdjhldhgZr_ilu\ZyqlhlhfZe_gvdhfmBh]Zggmb aZklZ\eyy_]h[eZ`_ggh`fmjblvky GZjy^m k \i_qZlebl_evghklvx =Zggh \b^bfh k\hckl\_ggZ lZd`_ bgljh\_jlbjh\Zgghklv Iha^g__ fu ih^jh[g__ hibr_f wlm dhf[bgZpbx dhfihg_glh\ ebqghklb ZgZebabjmy ikboheh]bx ]_jhbgb jhfZgZ FhiZkkZgZ ©GZr_ k_j^p_ª \ __ wjhlbq_kdhf jZa\blbb Dh]^Z qm\kl\Z g_ lhevdh [ukljh \hkieZf_gyxlky gh ^Zxl b ]em[hdb_ j_Zdpbb lh \hagbdZ_l wfhlb\ghklvWlhdZq_kl\h\ qbklhf\b^_\klj_qZ_lkym Zdp_glmbjh\Zgguoebqghkl_cihwlhfm ^_lZevgh h g_f ]h\hjblky gb`_ Fu g_ bf__f hkgh\Zgbc dhgklZlbjh\Zlv m =Zggh Zdp_glmbjh\Zggmx wfhlb\ghklv ?keb qm\kl\bl_evghklv b gZdeZ^u\Z_l gZ _]h ebqghklv ba\_klgucoZjZdl_jguchli_qZlhdlhwlh]h\hjblg_klhevdhh[Zdp_glmbjh\Zgghklbkdhevdhh iZlheh]bb k\yaZgghc k nbabq_kdhc keZ[hklvx b [he_ag_gghklvx =Zggh AZf_^e_gghklv wfhpbhgZevguoj_ZdpbcijbghjfZevghc]em[bg_qm\kl\k\b^_l_evkl\m_lg_h lmihklbwfhpbcZ kdhj__h bo]jm[h\Zlhklb< ijhba\_^_gbyoEhi_^_<_]ZFhev_jZb ^jm]boibkZl_e_clh]h`_ \j_f_gb \Z`gmx jhev \ jZa\blbb kx`_lZ qZklh b]jZxl kem]b < hlebqb_ hl k\hbo ohay_\ hgb kiehrv b jy^hf hlebqZxlky ]jm[hklvx j_Zdpbc \u^Zxs_c dZd ijZ\beh bo ©gbadh_ª ijhbkoh`^_gb_ Ohly kem]Z qZklh b bkdj_g_g \ k\hbo qm\kl\Zo gh kZfb qm\kl\Z _]h h[eZ^Zxl lhc mijhs_gghklvx h dhlhjhc lhevdh qlh ]h\hjbehkv < dZq_kl\_ ijbf_jZ fh`gh ijb\_klb WjgZg^hbaiv_ku©MfgZy\ex[e_ggZyªEhi_^_<_]Z< lh\j_fydZdohaybgWjgZg^hfheh^hc Expbg^h \_kv ho\Zq_g iuedhc ex[h\vx ijbq_f ex[h\v wlZ ihklhyggh ih^h]j_\Z_lky j_\ghklvxkZfWjgZg^hkfhljblgZ\_sb\_kvfZlj_a\h?]h]jm[h\Zlu_j_iebdbihdZau\Zxl qlhhggbdZdg_h^h[jy_lba[uldZqm\kl\k\h_]h]hkih^bgZ< kZfhfgZqZe_dhf_^bbdmjlbaZgdZ @_jZj^Zihdb^Z_lExpbg^hL_jaZ_fucj_\ghklvxhgho\Zq_g©Z^kdbfieZf_g_fªIhih\h^m wlh]h khklhygby ohaybgZ kem]Z hlimkdZ_l aZf_qZgb_ ©Qlh ` agZqbl gZ^h jZa^h[ulv ih[hevr_ \h^uª >Ze__ hg nbehkhnkl\m_l ©G_m`_eb lZd m` g_dh]h b ihex[blv djhf_ dZd rexo"ª <kdhj_ihke_wlh]hke_^m_l\a\hegh\Zggucfhgheh]Expbg^hk M j_\ghklbk\hbaZ[hluIhiZey \lhidh_[hehlhB ajyebrv[m^mkbeuljZlblvDhev aZkhk_llZdg_l\ha\jZlZEx[blvjZa\jZlgbpm²[_^ZQmlv_cl\hbg_fbeueZkdbHgZex[hfm kljhbl ]eZadb ?c gm`gh \ua\Zlv j_\ghklv ^Z Imklv qm\kl\h ² \he_c ih^Z\ex Gh _c kh fghc jZaju\Z fZeh <q_jZ ebrv fg_ deyeZkv ©ex[exª : gugq_ ieyr_l k d_f ihiZeh ?_ [_kklu^kl\h²\hlqlh[_kblIhwlhfmy lZdg_\_k_e Wlhlihlhdwfhpbcij_ju\Z_lj_iebdZWjgZg^hk @_jZj^Z ² obljZy ebkZ ² ?c \ \Zk j_\gb\pZ aj_lv ² ihl_oZ : \u ² \ex[e_gguc ijhklZqhdB \Zfdhg_qghg_^hkf_oZGhih`b\bl_\uk fh_B iexg_l_gZ\k_[Z[v_ Expbg^hijh^he`Z_lk_lh\ZlvZ WjgZg^h²\klZ\eylvk\hb©j_ijbauª\jh^_©>hq_]h\k_ wlh]emihª©Fg_[u\ZrbaZ[hluªb liIhhlghr_gbxd \haex[e_gghcExpbg^hWjgZg^h ihehg kd_ikbkZ ij_g_[j_`bl_evgh gZau\Z_l __ ©\_^vfhcª b k m^h\hevkl\b_f hibku\Z_l \ufure_ggmxkp_gm__ ihohjhg©kha\hghfdhehdheh\ih]j_[Zevghci_e_ghcb nZd_eZfbªGZ wlhl jZa m`_ Expbg^h ij_ju\Z_l k\h_]h kem]m ihegufb wdkij_kkbb \klZ\dZfb ©H @_jZj^Z ex[h\v fhyª beb ©<a]eygb dZd kljZklgh `^m l_[y yª beb ©H k`Zevky qm^h djZkhluª < ^Zevg_cr_f ]jm[hklv WjgZg^h \k_ \hajZklZ_l LZd gZ \ha]eZk Expbg^h ©Gbdlh g_ agZ_l dZd kljZ^Zx yª ke_^m_l kihdhcguc hl\_l ©Qlh m`_ gZqZebkv ihlm]b"ª Ex[h\gmx kp_gm ]^_ Expbg^hp_em_lb h[gbfZ_lex[bfmxhgij_ju\Z_lkeh\Zfb©G_ihjZebij_djZlblvkdmqgu_ baebygby"ª Ex[hiulgZ kp_gZ \ dhlhjhc WjgZg^h ih lj_[h\Zgbx k\h_]h ohaybgZ jZau]ju\Zy \ex[e_ggh]h\ g_dmxhkh[m\^jm]ijhkblaZdmkblvk Gmo\Zlbl]heh^kljZrguc\^jm] @_em^hdfhcg_sZ^gh]eh`_l Dheviuedhy \ex[\bdeygmkv² Hgihiheg_gvylhlqZkijhkbl DjZkhldZhdZ`bfg_q_klv >Zcohlvq_]hgb[m^vih_klv Hq_gvqZklh^_ckl\mxsb_ebpZom^h`_kl\_gguoijhba\_^_gbch[eZ^Zxsb_mijhs_ggufb qm\kl\Zfb \kyq_kdb klj_fylky kihkh[kl\h\Zlv ^h[jm q_f ih^l\_j`^Z_lky qlh hgb hlgx^v g_ ebr_gu]em[bguwfhpbc=hjgbqgZy>hjbgZ\ ©LZjlxn_ªFhev_jZkem`bllhfmij_\hkoh^guf ijbf_jhf =jm[ufb gh f_ldbfb aZf_qZgbyfb _c m^Z_lky \f_rZlvky \ oh^ kh[ulbc <_ebdhe_igZkp_gZ\ dhlhjhc>hjbgZj_rbeZijbfbjblvihkkhjb\rbokyFZjbZgmb <Ze_jZk ² >hjbgZhklZ\eyyFZjbZgmb ^h]hgyy<Ze_jZ Hiylv"H[h`_fhc>Z[jhkvl_]hkih^Z Ijhrmh[hbo\Zkih`Zeh\Zlvkx^Z [_j_l<Ze_jZb FZjbZgmaZjmdbb ijb\h^blbogZaZ^ <Ze_j>hjbg_LuqlhaZl_yeZ" FZjbZgZ>hjbg_DZdZyihevaZ\ wlhf" >hjbgZ Ohqm\Zkihfbjblvb \Zfihfhqvkh\_lhf <Ze_jm < k\h_feb\umf_"<^jm]wlZdbcaZ^hj <Ze_j<_^vlu`_keurZeZdZdhc[uejZa]h\hj">hjbgZFZjbZg_: \uk mfZkhreb"K q_]h gZ^meb ]m[db" F Z j b Z g Z <_^v lu `_ \b^_eZ kZfZ _]h ihklmidb" >hjb gZ <k_ wlh ]emihklb<Ze_jmHgZ\_kvieZf_gvk\hc<Zf^Zjblh^ghfmjmqZxkv]heh\hcFZjbZg_Hg ex[bl\Zkh^gmb gbdh]h^jm]h]hG_ohq_ldjhf_\Zky ijbky]gmlv]hlh\ZFZjbZgZ<Ze_jm AZq_f`_fg_lh]^ZlZdhc^Z\Zlvkh\_l"<Ze_jFZjbZg_AZq_f`_kijZrb\Zlvdhebkhfg_gbc g_l">hjbgZ<ukmfZkr_^rb_>Z\Zcl_jmdb Ijhklu_gZlmjuhohlgh\f_rb\Zxlkyb lZf]^_gm`gh\ ]jm[hcnhjf_\ujZablvijZ\^m Kbevgh\i_qZley_lijhlb\hihklZ\e_gb_oZg`bb ebp_f_jZLZjlxnZ]jm[hhldjh\_gghc>hjbg_ \ ke_^mxs_ckp_g_k LZjlxn^hklZ\ZybadZjfZgZieZlhdGhlhevdh[h]ZjZ^bIh`ZemcklZki_j\Z\havfbl_ fhcieZlhd>hjbgZAZq_f"LZjlxnIjbdjhcl_]jm^vqlh[u\ZkkemrZlvfh]GZf\hafmsZxl ^moih^h[gu_ij_^f_luB fukebiZ]m[guf\heg_gb_fkh]j_lu >hjbgZ M`_eb \Zf kh[eZag lZd ljm^gh ih[hjhlv B klhev qm\kl\bl_evgh gZ \Zk \eby_l iehlv"H \Zr_ciuedhklbg_fg_bf_lv km`^_gv_ Gh y g_ lZd e_]dh \iZ^Zx \ \h`^_e_gv_ B ^Z`__keb[ \ujZa^_ebkv^h]heZ<k_cdh`_cqlhgZ\Zkij_evklblvky[ g_fh]eZ DmoZjdZFZjlbgZ\ ©Mq_guo`_gsbgZoªFhev_jZ²lhl`_lbiqlhb >hjbgZG_kfhljy gZ dmebgZjgu_ lZeZglu FZjlbgu ohaycdZ \u]hgy_l __ ba ^hfm ihlhfm qlh dmoZjdZ g_^hklZlhqghbaukdZgghbatykgy_lkyihnjZgpmakdbDjbaZevohaybgiheghklvxih^[ZrfZdhf m `_guihwlhfmhgg_ijhl_klm_lohly\ ]em[bg_^mrbb g_kh]eZk_gk `_ghcIha`_hg\k_`_ ijb]eZrZ_l FZjlbgm gZ klZjh_ f_klh < kihj_ ohaybgZ k `_ghc FZjlbgZ _]h l_i_jv ih^^_j`b\Z_li_j_kuiZyk\hxj_qvxfhjbklbq_kdbfbaZf_qZgbyfb©>Z]^_wlh\b^Zghqlh[u dmjbpZaZdm^ZolZeZjZgvr_q_fi_lmoaZih_l"ª©FZ^Zf\_jghaZ[ueZbaj_q_gb_^Zm[hblky `_gZ fm`Zª ©Dh]^Z kmijm]Z s_]hey_l \ [jxdZo lh wlh hagZqZ_l qlh fm` m g__ reyiZª ©Ijhklbl_ gh y lZd ihgbfZx qlh i_j\uc ohaybg \ ^hf_ ² fm`qbgZ l _ fm`ª b l i FZjlbgZlZd`_[hj_lkyaZlhqlh[u^h[jh\hklhj`_kl\h\ZehhgZohq_lh]jZ^blv ^hqv ohay_\ =_gjb_llm hl [jZdZ k q_eh\_dhf dhlhjuc aZbgl_j_kh\Zg bkdexqbl_evgh \ __ ijb^Zghf <ijhq_f m ex^_c k mijhs_ggufb qm\kl\Zfb fZg_ju qZklh fZeh ijbylgu Ijbf_jhf fh`_l kem`blv>heevba^jZfuR_dkibjZ©=_gjbo,9ª>hklZlhqghihkemrZlvdZdhgZmf__ljm]Zlvky k >heevIjhqv^jygghcdZjfZgguc\hjbrdZR_em^b\ucfhr_ggbdijhqvDeygmkvwlbf \bghf y \kZ`m gh` \ l\hx ih]Zgmx ]ehldm _keb lu ihkf__rv kh fghc hahjgbqZlv Ihr_e ijhqv lu ib\gZy [mluev BklZkdZgguc n_olh\Zevsbd K dZdbo wlh ihj kwj \u gZ[jZebkv ih^h[ghcijulb"Ih^mfZ_rvgZp_ibek_[_rgmjdbgZie_qbWdZg_\b^Zev >heev DZiblZg :o lu hdZygguc ijhdeyluc h[fZgsbd b l_[_ g_ klu^gh qlh l_[y \_ebqZxldZiblZghf";m^vy gZf_kl_dZiblZgZy [ul_[yhl^meZaZlhqlhlu[_j_rvgZk_[y qm`h_a\Zgb_g_^hkem`b\rbkv^hg_]hLulhdZiblZg"LZdZylhfjZav">Zk dZdhcwlhklZlb" AZ lh qlh lu j\_rv h[hjdb m [_^guo ihlZkdmr_d \ im[ebqguo ^hfZo" Wlh hglh dZiblZg" Ih\_kblv_]hf_jaZ\pZHgiblZ_lkyijhdbkrbfq_jghkeb\hf^Zq_jkl\ufbibjh]ZfbDZiblZg M[_c f_gy [h] Wlb g_]h^yb kdhjh lZd `_ bkih]Zgyl keh\h ©dZiblZgª dZd bkih]Zgbeb keh\h ©h[eZ^Zlvª dhlhjh_ jZgvr_ [ueh hlf_gguf keh\_qdhf Z ihlhf klZeh g_ijbklhcguf GZklhysbfdZiblZgZfke_^h\Zeh[u^heh`blvwlhfmdhg_p :gZebabjmylZdh_dZq_kl\hdZdqm\kl\bl_evghklvfumihfbgZebh \ha[m^bfhklbwfhpbc Ih^\ha[m^bfhklvxwfhpbcfuihgbfZ_fg_klhevdhqm\kl\Zkdhevdh]hjyqbcgjZ\l_k\hc kl\h hlghkys__ky d kn_j_ \heb >heev oZjZdl_j_g ohe_jbq_kdbc l_fi_jZf_gl Q_eh\_dZ k ohe_jbq_kdbfl_fi_jZf_glhfgZoh^bflZd`_\ ^jZf_R_dkibjZ©=_gjbo,9ªWlh=_gjbI_jkb ihijha\ZgbxOhlki_j Ohe_jbq_kdZygZlmjZkdZau\Z_lkym Ohlki_jZdZd\ ih_^bgd_k \jZ]hf lZd b \ keh\_kghf ih_^bgd_ Dh]^Z dhjhev lj_[m_l \u^Zqb ie_gguo hg hldZau\Z_lky ih^qbgblvkyijbdZamZ ih^dhg_p\hkdebpZ_lk Ohlki_j Dh]^Z [ juqZ klZe lj_[h\Zlv bo q_jl Y g_ ijbkeZe [u bo Ihc^m d g_fm b \ukdZ`mkv<k_` h[e_]qmy k_j^p_Ohlyk\h_cjbkdmx]heh\hc Hl \ha[m`^_gby Ohlki_j \hh[s_ g_ keurbl qlh _fm ]h\hjyl Dh]^Z ^jmavy ohlyl khh[sblv_fm\Z`gmx\_klvhgg_^Z_lijhbag_klbbfgbkeh\ZlZdqlhih^dhg_phgbaZy\eyxl k < m kl_j IjhsZc ie_fyggbd fu ih]h\hjbf Dh]^Z lu [m^_rv jZkiheh`_g kemrZlv Ghjl_f[_je_g^ Lu qlh hkhc m`Ze_g kmfZk[jh^" Ihlhdhf keh\ ih`_gkdb jZajZabeky G_ \g_fe_rvgbdhfmebrvkZfk_[_ H^gZdhOhlki_jg_kfhljygZij_^hkl_j_`_gby^jma_cg_\ kbeZok^_j`Zlvkyk Ohlki_j Fg_ dZ`_lky f_gy [bqZfb oe_sml ;vxl jha]Zfb bev ``_l f_gy djZib\Z DmkZxlfmjZ\vbebrvj_qvaZc^_lHoblj_p_ijhdeylhf;hebg][jhd_ J_Zdpbx ho\Zlb\rmx Ohlki_jZ hlgx^v g_evay d\Zebnbpbjh\Zlv dZd qj_af_jgmx wfhpbhgZevgmx \a\hegh\Zgghklv i_j_^ gZfb kdhj__ kbevg_crbc \he_\hc ijhl_kl iheguc \hbgkl\_ggh]h gZijy`_gby Ohlki_j [_ajZkkm^gh j\_lky \ [hc \ dhlhjhf _]h `^_l ]b[_ev Z dh]^Zex[bfZy`_gZiulZ_lkym^_j`Zlv_]hhg__ ]jm[hªhllZedb\Z_l\ fukeyom g_]hlhevdh [hjv[Zk² Ohlki_jIjhqv[Zeh\gbpZijhqvEx[h\v"HgZk_cqZkkh\k_fg_dklZlbG_^hl_[yfg_ D_l l_i_jv g_ \j_fy Gb b]jZf \ dmdeu gb lmjgbjZf ]m[ =heh\ ijh[bluo kehfZgguo ghkh\ >Z\Zc ih[hevr_ <hl qlh ex[h gZf ² Kdhj__ fg_ dhgy ² Qlh kdZ`_rv D_l" Q_]h _s_ lu ohq_rvhlf_gy" B Ohlki_jklj_fbl_evghfqblky\ [hc\ dhlhjhf]b[g_lIjbZgZeba_h[jZaZOhlki_jZfu ^he`gu mq_klv ihwlbq_kdh_ ij_m\_ebq_gb_ ?keb _]h hl[jhkblv lh h[tykg_gby gZ^h bkdZlv \ dhf[bgbjh\Zgghckljmdlmj_ ebqghklb Ohlki_jZl_\ lZdbo hkh[_gghklyo ebqghklb dhlhju_ ih\urZxl \ha[m^bfhklv bg^b\b^Z lZdh\ufb fh]ml [ulv dhfihg_glu aZklj_\Zxs_c beb \ha[m^bfhcebqghklbH^gZdhhkgh\u\ZykvgZhibkZgbbR_dkibjZfug_gZoh^bfm Ohlki_jZ gb l_o gb ^jm]bo M g_]h g_l gb ly`_eh\_kghklb gb [_kihdhckl\Z \ha[m^bfuo l _ wibe_ilhb^guo ebqghkl_c gbqlh \ g_f g_ mdZau\Z_l b gZ ih^hajbl_evghklv ebqghkl_c aZklj_\Zxsbo Fu g_ gZ[ex^Z_f \ _]h ikbobd_ b aZklhcguo Znn_dlh\ k\yaZgguo k \hagbdgh\_gb_f k\_jop_gguo b^_c Hq_\b^gh Ohlki_j h[eZ^Z_l lbibqguf ohe_jbq_kdbf l_fi_jZf_glhfghwlZbg^b\b^mZevghklvjZkdjulZR_dkibjhfg_[_aba\_klgh]hihwlbq_kdh]h ij_m\_ebq_gbyKms_kl\mxlbg^b\b^mZevghklbdhlhjufk\hckl\_ggZ\ha[m^bfhklvdZdlZdh\Zy ² hgZ \uau\Z_l f]gh\_ggu_ j_Zdpbb ijboh^ysb_ b aZlmoZxsb_ k h^bgZdh\hc [ukljhlhc LZdh]h q_eh\_dZ bah[jZ`Z_l =hev^hgb \ dhf_^bb ©<kiuevqb\uc ^h[jydª OZjZdl_jbklbdZ ]hkih^bgZ@_jhglZ^ZgZm`_\ gZa\Zgbbdhf_^bbhg\kiuevqb\g_bfh\_jghKlhblfZe_cr_fm imklydm_]haZ^_lvdZdhg \kdbiZ_l ]g_\hf b h[jmrb\Z_lky gZhdjm`Zxsbo k hkdhj[e_gbyfb h^gZdh\kdhj_]g_\klboZ_lG_j_^dhijbwlhf\hagbdZxlaZ[Z\gu_kblmZpbb`Zehklvd ex^yf dhlhjuo@_jhglgZim]Zek\h_c]jm[hklvx\klmiZ_l\ dhgnebdlk _]h`_kh[kl\_gguf]g_\hf f_`^mwlbfb^\mfyZnn_dlZfbb^_l`_klhdbcih_^bghd< ijbiZ^d_]g_\Z@_jhglqZklh[jZgbl k\h_]hkem]mIbdZjZghh^gh\j_f_gghhgihklhygghaZ[hlblkyh lhfqlh[u_]hk_fvym IbdZjZ ² `_gZ b q_l\_jh ^_l_c [ueZ ohjhrh h[_ki_q_gZ Dh]^Z kem]Z h^gZ`^u \ kljZo_ i_j_^ jZatyj_ggufohaybghfiZ^Z_lgZihe@_jhgl^Z_l_fm^_g_]gZe_q_gb_gh]bdhlhjh_dklZlb \h\k_g_lj_[m_lkyBlZdm @_jhglZ^h[jh_k_j^p_gh]hjZa^hyjq_\ dhf_^bbhoZjZdl_jbah\ZgZ g_ ^h[jhlZ _]h Z \ha[m^bfhklv hgZ b y\ey_lky ]eZ\guf ghkbl_e_f dhfbafZ GZijbf_j dh]^Z IbdZj jh[dh hldZau\Z_lky hl ^_g_] gZ e_q_gb_ gh]b @_jhgl kgh\Z gZ[jZku\Z_lky gZ g_]h jZahae_gguc hldZahf ^Z ihq_fm wlh hg hldZau\Z_lky" Hg \_jgh ]hj^_p" Fh`_l [ulv hg \hh[s_ g_gZ\b^bl ohaybgZ" Gm m`_ g_ ^mfZ_l `_ hg qlh @_jhgl ih^kljhbe _]h iZ^_gb_ mfure_ggh©<havfb^_gv]b^jm]fhcg_gZ^hf_gyk_j^blvªQZs_\k_]h[ebadb_g_fh]mld g_fmh[jZlblvkygb aZkh\_lhfgbk ijhkv[hcijbi_j\uo`_keh\Zodhlhju__fmq_flhg_ih \dmkm hg ]jm[h h[ju\Z_l ]h\hjys_]h g_ `_eZy \ukemrb\Zlv _]h ^h dhgpZ @_jhgl aZ^mfZe \u^Zlv aZfm` r_klgZ^pZlbe_lgxx ie_fyg gbpm aZ k\h_]h e_lg_]h ^jm]Z H[Z hgb jh[dh iulZxlky\hajZ`Zlvgh@_jhglg_^Z_lbfkdZaZlvgb keh\Z >hj\Zev Iha\hev fg_ kdZaZlv @_jhgl j_adh FheqZlv :g]_ebdZ >hjh]hc ^y^xrdZ @_jhglFheqZlvF_gyylhgkihdhcghY [uem ghlZjbmkZb ijb\_e\ Z`mj\k_^_eZ< fh_f ijbkmlkl\bbhgkhklZ\bekhhl\_lkl\mxsbcZdlb \kdhj_y\blkykx^Z²gZfhklZg_lkylhevdh ihklZ\blv k\hb ih^ibkb >hj\Zev Gh kh[eZ]h\hebl_ \ukemrZlv f_gy mfheyx @_jhgl FheqZlv @_jhgl [_amkeh\gh q_eh\_d g_l_jibfuc gh Z]j_kkb\gZy fZg_jZ ^h[b\Zlvky k\h_]h ihy\ey_lky m g_]h lhevdh lh]^Z dh]^Z hg ijboh^bl \ khklhygb_ \ha[m`^_gby < kihdhcghf khklhygbb ^y^xrdZ @_jhgl \iheg_ ^hklmi_g b m]h\hjZf b \hajZ`_gbyf Hg gZijbf_j kihdhcgh \ukemrb\Z_l kh\_lu k\h_c ^hfhijZ\bl_evgbpu FZjlhg ih ih\h^m _]h h[jZs_gby k ie_fyggbp_c ©Wlh ijZ\^Z f_kv_ \_^v y ohjhrh \Zk agZx \u ^h[ju q_eh\_qgu ^h[jh`_eZl_evgu Gh ijhrm \Zk ihsZ^bl_ wlh [_^gh_ ^bly ]h\hjbl_ k g_c qmlv ihijb\_leb\__ª B @_jhgl ^Z`_ h[_sZ_l g_ [ulv k ie_fyggbp_c j_adbf ?keb wlh _fm g_ kh\k_f m^Z_lky lh g_ ba hiZk_gby qlh ie_fyggbpZ klZg_l ijhlb\blvky _]h ieZgZf ² gZ wlh :g]_ebdZg_kihkh[gZZ ihlhfmqlh_]hjZa^jZ`Zxl__ g_m\_j_gghklvb im]eb\hklvOhe_jbdm @_jhglm =hev^hgb ijhlb\hihklZ\ey_l ne_]fZlbqgh]h >hj\Zey dhlhjuc \ijhq_f h[jbkh\Zg \_kvfZ ko_fZlbqgh >hfhijZ\bl_evgbpZ FZjlhg aZy\ey_l qlh >hj\Zev ©kZfuc ne_]fZlbqguc q_eh\_d gZ k\_l_ª >ey ex^_c ohe_jbq_kdh]h l_fi_jZf_glZ oZjZdl_jgh [ukljh_ gZjZklZgb_ \he_\uo ijhy\e_gbc ijb ne_]fZlbq_kdhf l_fi_jZf_gl_ \he_\u_ ijhy\e_gby gZjZklZxl aZf_^e_ggh Q_eh\_dZ ne_]fZlbq_kdh]h lbiZ hibku\Z_l LhfZk FZgg \ k\h_f jhfZg_ ©<her_[gZy ]hjZª =Zgk DZklhji ]eZ\gh_ ^_ckl\mxs__ ebph jhfZgZ kgZqZeZ ijhba\h^bl \i_qZle_gb_ [_koZjZdl_jgh]h q_eh\_dZ ?s_ [m^mqb ]bfgZabklhf hg g_ mf_e aZklZ\blv k_[y kbkl_fZlbq_kdbjZ[hlZlvb g_kfhljygZkihkh[ghklbhklZeky\ h^ghfbadeZkkh\gZ\lhjhc]h^ Iha`_ hg \kihfbgZ_l ©lh g_kdhevdh ihklu^gh_ gh ijbylgh_ hsms_gb_ [_k ijbahjghklb dhlhjh_ bkiulZe dh]^Z \ ihke_^g_c q_l\_jlb dZd [m^lh khr_e k [_]h\hc ^hjh`db b fh] gZ^h \k_fwlbfkf_ylvkyªlk H^gZdhjZa\blb_^_ckl\byg_^Z_lhkgh\ZgbcdhgklZlbjh\Zlvm ]_jhyhlkmlkl\b_\u^_j`db klhevoZjZdl_jgh_^eyex^_ckeZ[h\hevguoIjhklhZdlb\ghklv_]hqj_a\uqZcghlm]hijboh^bl \ ^\b`_gb_lk B[hhg[uel_ji_eb\hlijbjh^ufh]^he]hhklZ\Zlvky[_a\kydboaZgylbcex[bedZdfu m`_ \b^_eb bf_lv ^hkm] b `_eZe qlh[u wlhl ^hkm] g_ [ue \kim]gml ebohjZ^hqghc ^_yl_evghklvxaZiheg_g_xb jZajmr_g ?]hne_]fZlbqghklvohjhrhqm\kl\m_lky\ keh\Zo\ dhlhjuohgijh\h^bliZjZee_evf_`^m kh[hcb k\hbf^\hxjh^guf[jZlhflk <k_]^Zhgklj_fbekyd lhfmqlh[ul_ehm g_]h[uehdj_idh_]hjZa^h[hevr_q_fybeb\h \kydhfkemqZ_bgZq_y \_^v\ ^mr_q_eh\_dkm]m[hrlZlkdbcb aZ[hlbekyh lhfqlh[uihl_ie__ [ueZ \h^Z \ \Zgg_ ^Z dZd [u ih\dmkg__ ih_klv b \uiblv Z hg klZjZeky [ulv fm`qbghc ^h[b\Zekyqbklhfm`kdbomki_oh\ <kdhj_\ l_dkl_ijhbaghkblkyb kZfhkeh\h©ne_]fZlbqghklvªH^bgba[hevguokZgZlhjby blZevyg_pk `b\ufl_fi_jZf_glhf\ukdZau\Z_lkyh =Zgk_ke_^mxsbfh[jZahflk ² Hlebqgh AgZqbl k wlhc klhjhgu \k_ \ ihjy^d_ Ne_]fZlbqghklv ih \k_c ebgbb < \Zr_ckljZg_gZ\_jgh_ex^b\hh[s_ne_]fZlbdb" Dh]^Z=ZgkDZklhjimagZ_lqlh_fmg_jZaj_rZxl²ihke_lj_og_^_evgh]h ij_[u\Zgbym [jZlZ²\_jgmlvkygZjh^bgmqlh_]haZ^_j`b\Zxl\ kZgZlhjbbb[hhgkZfk_jv_aghaZ[he_ehg ijbgbfZ_lwlhkhh[s_gb_kihdhcghM g_]hk BhZobfhfijhbkoh^blke_^mxsbcjZa]h\hjl k² ²$[ hgb\h\k_g_`^mlf_gylZdm`lhqghg_ij_f_ggh\ gZagZq_gguc^_gvLhevdhm gbo b ^_eZqlh`^Zlvf_gy^ZkqblZlv^gbdh]^Zy \_jgmkv<_jgmkvb \k_b ^y^yLbgZi_evkdZ`_l ©: \hl b luª : ^y^y >`_f_ kijhkbl ©Gm dZd ^h\he_g"ª B _keb y g_ ijb_^m lZd hgb _s_ ^he]hf_gyg_o\Zlylkyfh`_rv[ulvm\_j_gJZamf__lkykh\j_f_g_fboijb^_lkyba\_klblvª ²Lufh`_rvk_[_ij_^klZ\blvdZdfg_\k_wlhg_ gjZ\blky : qlh[m^_l ^Zevr_" <_^v b gZ fg_e_`blhl\_lkl\_gghklvaZwlmbklhjbxLuijb_a`Z_rvkx^ZgZ\_joqlh[ugZ\_klblvf_gy y \\h`m l_[y \ gZrm `bagv ² y \^jm] lu lml aZklj_\Z_rv b gbdlh g_ agZ_l dh]^Z lu hiylv \uj\_rvky b kfh`_rv ihklmiblv gZ f_klh Kh]eZkbkv qlh fg_ wlh \ \ukr_c kl_i_gb g_ gjZ\blky ² Iha\hev ² hklZgh\be _]h =Zgk DZklhji \k_ _s_ e_`Z\rbc aZdbgm\ jmdb aZ ]heh\m²Qlhlufm^jbrv"G_khqbgyc]emihkl_cJZa\_y ijb_oZekx^ZgZ\_jolhevdhqlh[u gZ\_klblv l_[y" Dhg_qgh b ^ey wlh]h lh`_ gh \ dhgp_ dhgph\ b wlh ]eZ\gh_ ² qlh[u hl^hogmlvb ihijZ\blvkyihkh\_lmO_c^_dbg^ZB \^jm]\uykgy_lkyqlhy gm`^Zxkv\ ]hjZa^Z [he__k_jv_aghcihijZ\d_q_fhg^Zb \k_fufh]ebk_[_ij_^klZ\blv E_q_gb_\ kZgZlhjbbdhgpZdhlhjhfmg_\b^gh=Zgki_j_ghkbl\_kvfZl_ji_eb\hHgg_[_a bgl_j_kZaZgbfZ_lky^_eZfbg_bf_xsbfbgbq_]hh[s_]hk ijhn_kkb_cbg`_g_jZlZdbfbdZd ZgZlhfby b nbabheh]by q_eh\_dZ iha^g__ ² [hlZgbdZ b Zkljh ghfby G_dhlhjh_ \j_fy hg m\e_q_gmoh^hfaZlh\ZjbsZfbihg_kqZklvx²[hevgufb gZoh^ysbfbkygZbae_q_gbb \ lhf `_kZgZlhjbbYjdhijhy\ey_lkyne_]fZlbqghklvDZklhjiZ\ lhff_kl_jhfZgZ]^_ex[bfZybf DeZ\^byRhrZ\ha\jZsZ_lky\ kZgZlhjbc\ khijh\h`^_gbbgh\h]h^jm]Z=Zgkh[jZsZ_lkyd g_c khke_^mxsbfbkeh\Zfblk² ²: ihwlhfmij_^hklZ\vfg_fhxne_]fmIh\lhjyxdZd[uy h[hr_eky[_ag__"DZd[uy \u^_j`Ze [_a g__ gZijbf_j h`b^Zgb_" ² Gm `^Zlv [u eh ljm^gh\Zlh DeZ\^by ^Z`_ ^ey q_eh\_dZ k ne_]fZlbq_kdbfb kljZklyfb ² ljm^gh ^ey f_gy Z k l\h_c klhjhgu [ueh `_klhdh ijb_oZlv\f_kl_k gbf\_^vludhg_qghagZeZhl;_j_gkZqlhy a^_kvb `^ml_[yGhy `_l_[_ kdZaZe qlh kfhljx gZ lm gZrm ghqv dZd gZ khg b ijbagZx aZ lh[hc ihegmx k\h[h^m =Zgk DZklhji ]em[hdh kljZ^Z_l baaZ lh]h qlh DeZ\^by hl g_]h hl\_jgmeZkv gh lZdh\ m` m g_]h l_fi_jZf_gl ² ]hjyqh [mjgh j_Z]bjh\Zlv hg g_ fh`_l BlZd ^ey \ha[m^bfhklb q_eh\_dZ oZjZdl_jgh [ukljh_ gZjZk lZgb_ \he_\uo ijhy\e_gbc Qlh dZkZ_lky kbeu \heb lh hgZ \ujZ`Z_lky\ ]em[bg_\he_\uoj_Zdpbcijhy\eyxsbokyqZs_\k_]hlZf]^_\heyq_eh\_dZdZd [u ih^kl_]b\Z_lky jZaebqgufb ij_iylkl\byfb Ihwlhfm kbeZ \heb [hevr_ ihagZ_lky g_ \ hl^_evguoihklmidZoZ \klhcdhcb ^ebl_evghcZdlb\ghklb?kebfuaZ^Zebkvp_evxgZ[ex^Zlv ijhy\e_gby bklbgghc kbeu \heb lh bkdZlv __ ijb^_lky \g_ hkljuo Znn_dlh\ b[h ihke_^gb_ ©\a^m\Zxlª\he_\u_j_Zdpbb^Z`_m g_klhevm`kbevguo\he_cebp<hijhkh lhfq_fmke_^m_l ijbibkZlvwg_j]bqguc\he_\hcihklmihd\he_bebZnn_dlm\ lZdbokemqZyohklZ_lkyhldjuluf Ih wlhc ijbqbg_ l_ ijbf_ju kbeu \heb kbevgh]h oZjZdl_jZ dhlhju_ y a^_kv ijb\h`m fh]ml ihdZaZlvky g_kdhevdh [e_^gufb <u^\bgmlv dZd kbevgmx \he_\mx ebqghklv DZjeZ FhhjZ ba ©JZa[hcgbdh\ªbebW^fmg^Zba©DhjheyEbjZªy g_j_rZxkvohlyh[Zhgb²ex^b[_amkeh\gh \he_\u_:nn_dlu\uau\Zxsb_boihklmidbg_kdhevdhkfZau\Zxlh[smxdZjlbgmKbevghc \he_\hc ebqghklvx y\ey_lky BhZobf Pbfk_g ^\hxjh^guc [jZl =ZgkZ DZklhjiZ Kbevguc oZjZdl_j ijhy\ey_lky m g_]h \g_ khklhygbc Znn_dlZ <k_ _]h fukeb \h \j_fy ij_[u\Zgby \ kZgZlhjbbkhkj_^hlhq_gugZh^ghcp_eb²\ua^hjh\_lvdZdfh`ghkdhj__Hgk qj_a\uqZcghc q_ldhklvx \uihegy_l \k_ gZagZq_gby \jZq_c b g_ iha\hey_l k_[_ gbdZdbo hlklmie_gbc hl ij_^ibkZggh]h bfb j_`bfZ lh]^Z dZd m ^jm]bo [hevguo ih ^h[gu_ gZjmr_gby gZ[ex^Zxlky kiehrvb jy^hflk BhZobf h[uqgh mdehgyeky hl \k_o f_klguo jZa\e_q_gbc G_ jZ^b wlh]h [ue hg a^_kv b \hh[s_ hg a^_kv g_ ^ey lh]h qlh[u ijhklh `blv b dZdlh fbjblvky k `bagvx ijh\h^y \j_fy ijbylghb jZaghh[jZaghg_l_]h_^bgkl\_ggZyp_ev²dZdfh`ghkdhj__hk\h[h^blvkyhly^h\ [he_agb\_jgmlvkygZjZ\gbgmb gZqZlvkem`[mgZklhysmxkem`[mZ g_e_q_[gmx Hg h[ma^u\Z_l b k\hb wjhlbq_kdb_ ly]hl_gby Hg ex[bl h^gm ^_\mrdm k dhlhjhc ihagZdhfbeky \ kZgZlhjbb gh \kyq_kdb ih ^Z\ey_l ihiuldb k[ebablvky k g_c ohly _fm wlh g_e_]dh Hg hkm`^Z_l =ZgkZ DZklhjiZ b[h baaZ _]h [helh\gb hdjm`Zxsb_ gZqbgZxl ih]h\Zjb\Zlv h \ex[e_gghklb BhZobfZ < p_ehf BhZobf q_eh\_d \_kvfZ aZmjy^guc Q_jlhc dhlhjZy hlebqZ_l _]h hl \k_o ^jm]bo [hevguo kZgZlhjby b hij_^_ey_l klhcdhklv _]h ihabpbb y\ey_lky kbeZ \heb Kbevghc \he_c h[eZ^Z_l b RZjehllZ ba ©Ba[bjZl_evgh]h kjh^kl\Zª =_l_ HgZih^Z\ey_lex[h\vd dZiblZgmb klhcdhi_j_ghkblkblmZpbxly`_eh]hdhgnebdlZ\ dhlhjmx ihiZeZ baaZ g_\_jghklb fm`Z =_l_ \b^bfh ohl_e \ h[jZa_ __ b dZiblZgZ bah[jZablv ex^_c lj_a\uoijhlb\hihklZ\eyyboh[hbo^jm]bf]_jhyfdhlhju_ieu\mlihl_q_gbxk\hbowfhpbc >ZggZyq_jlZhlgx^vg_hagZqZ_lqlhRZjehllZg_kihkh[gZgZqm\kl\hghg_[m^vm g__kbeu \heb \u^_j`db hgZ [ueZ [u g_ \ khklhygbb ih^qbgblvky lhfm qlh ih^kdZau\Ze jZamf H[jZlbfky l_i_jv d ex^yf kh keZ[hc \he_c \ i_j\mx hq_j_^v d l_f dhlhju_ hdZau\Zxlky \ `bagb g_khklhyl_evgufb baaZ hlkmlkl\by l_ji_gby b \u^_j`db Ijbf_jhf fh`_l kem`blv ivygbpZ FZjf_eZ^h\ ba jhfZgZ ©Ij_klmie_gb_ b gZdZaZgb_ª >hklh_\kdbc ijZ\^Z hibku\Z_l _]h dZd lbibqgh]h Zedh]hebdZ ke_^h\Zl_evgh hg g_ kh\k_f mdeZ^u\Z_lky \ jZfdb ghjfu H^gZdhg_[m^vhgkm[t_dlhfkeZ[hoZjZdl_jgufhgg_klZe[uZedh]hebdhf^Zb `_g_k\h_cg_ ih^qbgyeky [u klhev [_ah]h \hjhqgh ?keb ivygbpZfb klZgh\ylky ex^b ih^\_j`_ggu_ \e_ q_gbyflhboih\_^_gb_kh\k_fbgh_FZjf_eZ^h\ihdhjgh kghkbl dh]^Z `_gZ \ gZdZaZgb_ aZ lhqlhhgijhibe^_gv]bijb[_]Z_ld ]jm[hfmgZkbebxgZ^gbf ²:²aZdjbqZeZhgZ\ bkklmie_gbb²\hjhlbekyDheh^gbdBa\_j]": ]^_^_gv]b" Qlhm l_[y\ dZjfZg_ihdZau\ZcB ieZlv_g_lh=^_l\h_ieZlv_"=^_^_gv]b"]h\hjb B hgZ[jhkbeZkv_]hh[ukdb\ZlvFZjf_eZ^h\lhlqZk`_ihkemrghb ihdhjghjZa\_ejmdb\ h[_klhjhguqlh[uh[e_]qblvdZjfZgguch[ukd>_g_]g_[uehgbdhi_cdbk² ² =^_ `_ ^_gv]b" ² djbqZeZ hgZ ² H ]hkih^b g_m`_eb `_ hg ijhibe \k_ <_^v ^\_gZ^pZlv p_edh\uo \ kmg^md_ hklZ\Zebkv ² b \^jm] \ [_r_gkl\_ hgZ ko\ZlbeZ _]h aZ \hehkub ihlZsbeZ\ dhfgZlmFZjf_eZ^h\kZfh[e_]qZe__ mkbebykfbj_gghiheayaZg_xgZ dhe_gdZo ?keb[uFZjf_eZ^h\g_klZeZedh]hebdhflh\_jhylgh^Z`_^hklb][udh_q_]h\ `bagb ;_a\heb_ kZfh ih k_[_ g_ ]jhabl q_eh\_dm fhjZevghc ]b[_evx Imklv m ex^_c [_a\hevguo \u^_j`dZ \ `bag_gghc [hjv[_ b ihgb`_gZ gh g_h[oh^bfZy f_jZ klhcdhklb \ujZ[Zlu\Z_lky kZfhc `bagvx ;u\Z_l b lZd qlh keZ[hoZjZdl_jguc q_eh\_d aZgbfZ_l k kZfh]h gZqZeZ ihkl dhlhjuc ^jm]hc aZ\h_\Ze [u g_ [_a ljm^Z b iheh`_gb_ wlh dZd [u hojZgy_l _]h hl ^mjguo ihke_^kl\bc [_koZjZdl_jghklb Ba ebl_jZlmjguo i_jkhgZ`_c \ dZq_kl\_ ijbf_jZ q_eh\_dZ keZ[hoZjZdl_jgh]h ohly b aZgbfZxs_]h \_kvfZ \ukhdh_ f_klh \ khpbZevghc b_jZjobb fh`gh gZa\Zlv ]_jph]Z :ev[Zgkdh]h He[_gb ba ljZ]_^bb R_dkibjZ ©Dhjhev Ebjª =_jph] :ev[ZgkdbckiZkh\Zei_j_^`bagvxb[hhgg_\ kbeZoiheh`blvdhg_pbgljb]Zfk\h_c`_gu dh\Zjghc b aeh[ghc =hg_jbevb DZd q_eh\_d h[e_q_gguc \eZklvx ]_jph] :ev[Zgkdbc aZkem`b\Z_lkdhj__iheh`bl_evghchp_gdbhg\hh[s_gbdZdg_kdehg_gihl\hjkl\h\Zlvdhagyf kmijm]bGhihiuldbdhlhju_hgij_^ijbgbfZ_lqlh[uijhlb\hklhylvaemqj_a\uqZcghkeZ[u b g_^hklb]Zxlp_ebKeZ[hklv_]hqm\kl\m_lkym`_\ i_j\hfZdl_dh]^Z=hg_jbevy\ha\h^blgZ hlpZ jy^ h[\bg_gbc b ba]hgy_l EbjZ ba aZfdZ Ohly ih\_^_gb_ `_gu ]_jph]m qj_a\uqZcgh g_ijbylghh^gZdhhgg_aZgbfZ_lihabpbbijhl_klZHgh[jZsZ_lkyd dhjhexEbjmk Fbehj^\ q_fkmlv"Y gbq_]hg_agZx B g_ih\bg_g Iha^g__ hg iulZ_lky \k_ `_ aZy\blv h k\h_f \hafms_gbb ih\_^_gb_f =hg_jbevb gh lZ \hh[s_g_`_eZ_l_]hkemrZlvk =hg_jbevy Lu wlh keurZe" =_jph] :ev[Zgkdbc KeurZe =hg_jbevy Gh [ulv ijbkljZklgufbaex[\bd l_[_=hg_jbevy>h\hevghihah\bl_fg_Hk\Zev^Z =_jph]bgy^_j`blk_[ylZdkeh\ghfm`__ ²imklh_f_klhhgZah\_l^\hj_pdh]hHk\Zev^Z b ^Z_l _fm ^Zevg_crb_ jZkihjy`_gby GZdhg_p ]_jph] m^Zey_lky gh i_j_^ wlbf hg b `_gZ h[f_gb\Zxlkyj_iebdZfbb ]_jph][jhkZ_lagZf_gZl_evgmxnjZamk =hg_jbevy : \ZrZ [_koZjZdl_jgZy djhlhklv ² ;m^v kdZaZgh \Zf ]_jph] g_ \h ]g_\ ² Kdhj__ g_ijhklbl_evgZy ]emihklv Q_f ijbagZd gZklhys_c ^h[jhlu =_jph] :ev[Zgkdbc AZlh \u [v_l_ \ p_ev g_mlhfbfh Kfhljbl_ ebrv g_ ihiZ^bl_ fbfh =hg_jbevy H^gZdh =_jph] :ev[Zgkdbc;m^ms__gZfihdZ`_l Ijb^y \ m`Zk hl g_keuoZgghc ih^ehklb klZjrbo ^hq_j_c EbjZ ]_jph] :ev[Zgkdbc ]g_\gufb keh\Zfb iulZ_lky bah[ebqblv `_gm gh b a^_kv wlh g_ [he__ q_f \kiurdZ \he_\hc ijhl_kl\ _]hkeh\Zog_qm\kl\m_lky=hg_jbevyb lmlg_ijbgbfZ_l_]h\k_jv_ahgZhkuiZ_l_]h gZkf_rdZfbk =hg_jbevy@Zedbcljmk K s_dZfb^eyihs_qbgk ]heh\hc >eyijhfZoh\LujZagbpug_\b^brv F_`q_klvxb [_kq_klv_f >he`_gagZlvEbrv^mjZdbij_klmigbdh\`Ze_xl >_eZfdhlhjuoihf_rZeZdZagv < kihj_k W^fmg^hfdhlhjuc©lZcghihfhe\e_gk _]h`_ghcª]_jph]:ev[ZgkdbclZd`_ \_^_l k_[y ^hklZlhqgh [_koZjZdl_jgh GZijbf_j ]_jph] g_ kqblZ_l W^fmg^Z jZ\guf k_[_ ih jh`^_gvx gZ qlh J_]ZgZ bjhgbq_kdb aZy\ey_l ©Kfhljy ih lblmem dZdhc y ^Zf _fm k_cqZkª Dh]^Z ]_jph] :ev[Zgkdbc ohq_l Zj_klh\Zlv W^fmg^Z dZd ]hkm^Zjkl\_ggh]h baf_ggbdZ =hg_jbevy gZau\Z_l _]h ih\_^_gb_ nb]eyjkl\hf GZdhg_p =hg_jbevy dZd fu agZ_f hldjulh ijbagZ_lky\ k\h_cex[\bd W^fmg^m=_jph] :ev[Zgkdbc gZau\Z_l lZdh_ ijbagZgb_ij_^_ehf [_kklu^kl\Zghihke_lh]hdZd=hg_jbevy]hj^hm^Zey_lkyh[_kihdh_gghh[jZsZ_lkyd hnbp_jm ©Kfhljbl_aZg_chgZhl]hjy\g_k_[yªLZdbfh[jZahf\ ebp_]_jph]Z:ev[Zgkdh]hR_dkibj ihdZau\Z_lq_eh\_dZdhlhjucohl_e[ukh\_jrZlv^h[jhghkebrdhfkeZ[qlh[uihklhylvaZ g_]h< wlhfh[jZa_R_dkibjZgZrebyjdh_\hiehs_gb_lZdb_dZq_kl\ZdZd[_koZjZdl_jghklvb keZ[h\heb_ GZ wlhf iha\hex k_[_ ih^\_klb blh] bah[jZ`_gbx \ om^h`_kl\_gghc ebl_jZlmj_ l_oijbf_qZl_evguobg^b\b^mZevghkl_cdhlhjuohlghrmd kn_j_qm\kl\b \heb Bg^b\b^mZevgu_hkh[_gghklbZkkhpbZlb\ghbgl_ee_dlmZevghckn_ju Nmgdpbb \heb i_j_ie_lZxlky k fukebl_evguf ijhp_kkhf <ke_^kl\b_ wlh]h \ujZ[Zlu\Zxlky jZaebqgu_ fukebl_evgu_ lbiu h^gZdh hgb ebrv ih[hqgh k\yaZgu kh kljmdlmjhcebqghklb Lbi fure_gby ljm^gh ih^^Z_lky dhgdj_lguf gZ[ex^_gbyf djhf_ lh]h bgl_ee_dl g_ hljZ`Z_lky g_ihkj_^kl\_ggh gZ hkh[_gghklyo ebqghklb q_eh\_dZ J_Zevguf fh`gh kqblZlv ebrv lh qlh \ aZ\bkbfhklb hl bgl_ee_dlmZevgh]h mjh\gy baf_gy_lky hdjZkdZ dhehjbl kljmdlmju ebqghklb DZd fu m[_^bebkv gZ ijb\_^_gghf fZl_jbZe_ ijhZgZebabjh\Zggu_ i_jkhgZ`bh[eZ^Zebb \ukhdhb keZ[hjZa\blufbgl_ee_dlhfqlhh^gZdh^eyoZjZdl_jbklbdb ebqghklbg_bf_ehj_rZxs_]hagZq_gbyH^gZdhkms_kl\m_lh[eZklvikbobdb[ebadhklhysZyd bgl_ee_dlmhgZfh`_lmqZkl\h\Zlvb \h[jZah\Zgbbhl^_evguohkh[_gghkl_cebqghklbWlh² kn_jZZkkhpbZlb\ghbgl_ee_dlmZevguoqm\kl\\ dhlhjhc[_jmlgZqZehaZbgl_j_kh\Zgghklvl_ ihlj_[ghklv q_eh\_dZ ihagZlv g_qlh gh\h_ g_h[uqgh_ b ex[h\v d ihjy^dm l _ ijhlb\hiheh`gZy i_j\hc kdehgghklv ijb^_j`b\Zlvky mklZgh\e_ggh]h ijb\uqgh]h Ijb\_klb ijbf_j q_eh\_dZ beb i_jkhgZ`Z dhlhjh]h hlebqZeZ [u qbklZy aZbgl_j_kh\Zgghklv dZd k\hckl\h ZkkhpbZlb\ghbgl_ee_dlmZevghc kn_ju y ebr_g \hafh`ghklb wlh hkh[h_ k\hckl\h hq_gvljm^ghhl]jZgbqblvhljy^Z^jm]bomklj_fe_gbcdhlhju_lZd`_kihkh[guklbfmebjh\Zlv jZaebqgu_^moh\gu_bgl_j_kuH^gZdhfudZd\ `bagblZd b \ ebl_jZlmj_ gZoh^bf ex[ysbo ihjy^hdex^_cdhlhju_ijbba\_klghfmljbjh\Zgbbij_^klZ\eyxlkyi_^ZglZfbBf__lky\ \b^m g_ ZgZgdZklbq_kdh_ klj_fe_gb_ d ihjy^dm dhlhjh_ \ qj_af_jghc kl_i_gb \_^_l d gZ\yaqb\uf ij_^klZ\e_gbyf Hlkmlkl\b_ ex[\b d ihjy^dm m ex^_c ijhklh i_^Zglbqguo \uau\Z_l g_m^h\hevkl\b_ gh [_a \kydh]h hll_gdZ gZ\yaqb\hklb LZdhc q_eh\_d kljh]h ijb^_j`b\Z_lky mklZgh\e_ggh]h jZkihjy^dZ b \k_ `_ wlh g_ k\yaZgh k ihklhygghc gZijy`_gghklvx ikbobdb IbkZl_eb hibku\Zy ex[h\v d ihjy^dm h[uqgh klZ\yl k\hbo ]_jh_\ \ jZfdb hij_^_e_gghc ijhn_kkbb dhlhjZy \f_gy_l \ h[yaZgghklv q_eh\_dm ke_^blv aZ ihjy^dhf ihebp_ckdb_ Zjob\Zjbmku b l ^ < wlbo kemqZyo \ h[jZa_ \hkijbgbfZ_lky g_ klhevdh bg^b\b^mZevghklv kdhevdhij_^klZ\bl_ev^Zgghcijhn_kkbbMihjy^hq_gghklv\hkiblu\Z_lkyijhn_kkb_clZd`_b \ mqbl_e_ dhlhjhfm aZqZklmx ijboh^blky gZijZ\eylv \ ghjfZevgh_ jmkeh l_fi_jZf_gl b g_k^_j`Zgghklv^_l_cGh\hli_j_^gZfbfZ]bkljhibkZggucKljbg^[l_j]hf\ jZkkdZa_©LZd ^he`gh [ueh kemqblvkyª < ^Zgghf kemqZ_ ljm^gh ]h\hjblv h lhf qlh hg klZe i_^Zglhf [eZ]h^Zjy i_^Z]h]bq_kdhc ^_yl_evghklb FZ]bklj ^h f_ehq_c nhjfZe_g \ _^_ ^ey jZaebqguo ljZi_a m g_]h ij_^mkfhlj_g kljh`Zcrbc jblmZe dh]^Z gZijbf_j ih^Zxlky jZdb bo ^he`gh [ulvh[yaZl_evghr_klvrlmdb ijblhf \k_ ² kZfdb >eygZqZeZhg kZf hlf_jb\Z_l k_[_ ljb q_l\_jlb jxfdb \h^db b \uib\Z_l __ k gZkeZ`^_gb_f ihke_ q_]h \hkdebpZ_l ©Moª K\_`Zy ]Za_lZ^he`gZgZoh^blvky\ wlh\j_fyke_\ZhlfZ]bkljZgZdhjabgd_^eyoe_[Zk LZdhgihklmiZe\ l_q_gb_^\_gZ^pZlbe_lb [m^_lihklmiZlv^hdhgpZ^g_cDh]^ZgZklhe_ ihy\eyxlkyjZdblhhggZqbgZ_lk bkke_^h\Zgbyboiheh\uoijbagZdh\Z ijbiheh`bl_evguo j_amevlZlZo hkfhljZ ijbklmiZ_l d ^Zevg_cr_c ijhp_^mj_ KZen_ldZ m]hedhf aZdeZ^u\Z_lky aZ \hjhljy^hfk lZj_edhcdeZ^mlky^\Zbebljb[ml_j[jh^Zk kujhfaZl_fhggZeb\Z_lk_[_klZdZg ib\Z b \lhjmx jxfdm \h^db [_j_l \ jmdb fZe_gvdbc gh`bd ^ey jZdh\ b gZqbgZ_l bo jZa^_eu\Zlv Ih]ehs_gb_ jZdh\ lZd`_ ijhbkoh^bl \ kljh]h mklZgh\e_gghf ihjy^d_ Ihke_ lh]h dZd kt_^_guljbjZdZ\uib\Z_lkylj_lvyjxfdZ\h^dbdh]^ZhgZ\uiblZjZa\hjZqb\Z_lky]Za_lZ\ dhlhjhcfZ]bklj\ i_j\mxhq_j_^vagZdhfblkyk jZa^_ehfgh\uogZagZq_gbc^he`ghklguoebp <h\k_fhklZevghffZ]bkljlZd`_y\ey_lkyh[jZaphfihjy^dZk Hg [_amdhjbag_ggh \uihegye \ rdhe_ mqbl_evkdb_ h[yaZgghklb gbdh]^Z g_ hiZa^u\Ze gbdh]^Z g_ [he_e < qZklghc `bagb _]h fh`gh [ueh gZa\Zlv wlZehghf ZddmjZlghklb ieZlm aZ d\Zjlbjmhg\ghkblb^_Zevghlhqghgbdh]^Zgbq_]hg_ihdmiZe\ fZ]ZabgZo\ dj_^blb h^bgjZa \ g_^_exoh^bed ©`_gsbgZfªhggbdh]^Zg_]h\hjbe©d ^_\bpZfª@bagv_]h[ueZih^h[gZ ih_a^m dhlhjuc fqblky ih [e_klysbf j_evkZf b ijb[u\Z_l k lhqghklvx ^h k_dmg^u gZ ij_^mkfhlj_ggu_\ ^hjh`ghfieZg_klZgpbb >Ze__ Kljbg^[_j] ^Z_l ihgylv qlh _]h ]_jhc hlgx^v g_ kljZ^Z_l ij_m\_ebq_gghc ^h[jhkh\_klghklvxbebqj_af_jgufqm\kl\hf^he]Zk H [m^ms_fhgg_^mfZeb[hbklbggucw]hbklg_^mfZ_lh g_fohly[um`_ihlhcijbqbg_ qlh[m^ms__ijbgZ^e_`bl_fmg_[he__q_fgZ²e_l Gh fh`_l [ulv \ hkgh\_ i_^Zglbqghklb fZ]bkljZ e_`bl g_dhlhjZy wibe_ilhb^gZy ly`_eh\_kghklv f_^ebl_evghklv" LZdbo ijbagZdh\ fu \ jZkkdZa_ g_ \b^bf I_^Zglbqgmx ex[h\v fZ]bkljZ d ihjy^dm beexkljbjm_l g_ h^bg ijbf_j H^_\Z_lky hg lZd`_ kh[ex^Zy aZjZg__ gZf_q_gguc ihjy^hd GZijbf_j hg g_baf_ggh ih^ly]b\Z_l \\_jo gb`gbc djZc [jxd qlh[uhgbg_\hehqbebkviha_fe_Ba^hfm\uoh^bl\ lhqghgZf_q_ggh_\j_fyGbdh]^Zhgg_ \u_a`Z_laZ]hjh^[hykvqlh_]hfh]mlklbkgmlvb aZ^mrblv\ ]hjh^kdhfljZgkihjl_\hh[s_hg f_qlZ_l h lhf qlh[u ©dhgqbehkv gZdhg_p wlh [_ah[jZab_ k ijZa^gbdZfbª hl dhlhjuo gbq_]h djhf_[_kihjy^dZg_ijboh^blky`^ZlvIh^hjh]_\ iZgkbhg]^_hgiblZ_lkyhg\hafms_gih \uoh^guf^gyfg_ihjy^dhf\ ih\_^_gbb\ajhkeuob ^_l_cgZijbf_jdZdhclhfZevqbdihiZe _fm \ ]jm^v fyqhf ihebp_ckdbc `_ kfhlj_e gZ wlhl wibah^ k meu[dhc ihly]b\Zy ib\h ba djm`db Ikboheh]bq_kdb \iheg_ h[tykgbfh qlh e_lgbc fZ]bklj dhlhjuc gbdh]^Z g_ kh[bjZeky`_gblvkyqlh[ug_baf_gylvk\h_]hjZab gZ\k_]^Z mklZgh\e_ggh]hjZkihjy^dZ ^gy \k_ `_ \ dhgp_ dhgph\ \klmiZ_l \ [jZd >_eh \ lhf qlh ex[h\v d ihjy^dm dhj_gysZyky \ ZkkhpbZlb\ghbgl_ee_dlmZevghc kn_j_ g_baf_ggh ^he`gZ ihl_ji_lv ihjZ`_gb_ \klmiZy \ dhgnebdl k ghjfZevgufb q_eh\_q_kdbfb qm\kl\Zfb b ihju\Zfb Khklhy \ [jZd_ fZ]bklj hldZau\Z_lky hl fgh]bo k\hbo ijb\uq_d ^Z`_ hl ijb\uqdb mihlj_[eylv \ _^m kZfhd jZdh\ < ©Ba[bjZl_evghfkjh^kl\_ª=_l_lZd`_bah[jZ`Z_lex[ys_]hihjy^hdq_eh\_dZwlh²dZiblZg Gh ihkdhevdm ^Zgguc h[jZa g_ klhev mljbjh\Zg dZd h[jZa fZ]bkljZ Kljbg^[_j]Z lh hg b \i_qZley_lqblZl_eyf_gvr_>_yl_evghklvdZiblZgZ\ aZfd_gZqbgZ_lkyk lh]hqlhhgijb\h^bl \ ihjy^hdjmdhibkbW^mZj^Zk <h neb]_e_ dZiblZgZ hgb mkljhbeb ojZgbebs_ ^ey ZdlmZevguo jmdhibk_g b Zjob\ ^ey f_g__gm`guoKx^Z[ueb^hklZ\e_gu^hdmf_gluaZibkb\k_\hafh`gu_aZf_ldbbajZaebqguo ihf_s_gbc rdZnh\ kmg^mdh\ aZfdZ m`_ \kdhj_ \_kv wlhl oeZf [ue ijb\_^_g \ ihjy^hd jZaeh`_gihysbqdZfb jZkklZ\e_gihjm[jbdZf<k_qlhfh]ehihlj_[h\Zlvkym^Z\ZehkvgZclb dm^Zkdhj__q_ffh`gh[uehgZ^_ylvky Ih^h[gu_ mkh\_jr_gkl\h\Zgby dZiblZg \\h^bl b \ iZjd_ dhlhjuc ieZgbjm_lky jZa[blv ihgh\hfm bkoh^y ba khh[jZ`_gbc p_e_khh[jZaghklb JZa[b\dZ iZjdZ [ueZ g_^hklZlhqgh lsZl_evgh ijh^mfZgZ RZjehllhc b wlh hq_gv f_rZ_l dZiblZgm Ihfbfh iZjdZ dZiblZg aZ^Z_lkyp_evxi_j_kljhblvb [ebae_`Zs__k_ehk Ihfgbrv²h[jZlbekyhgd RZjehll_²dZdfukh\_jrZyiml_r_kl\b_ihR\_cpZjbb aZ]hj_ebkv`_eZgb_fkha^Zlv^hihegbl_evgmxdjZkhlmgZr_]hiZjdZi_j_kljhb\gZoh^ysmxky ih[ebahklb ^_j_\gx gh h[jZsZykv g_ d r\_cpZjkdhc Zjobl_dlmj_ Z ih^jZ`Zy r\_cpZjkdhc qbklhl_d ihjy^dmdhlhju_lZdjZpbhgZebabjmxlihevah\Zgb_ DZiblZgm ohq_lky mihjy^hqblv _s_ b fgh]h_ ^jm]h_ gZijbf_j hj]Zgbah\Zlv gbsbo b ih^ZqmbffbehklugbHghl^Z_lk_[_hlq_l\ lhfqlh_]hex[h\vd ihjy^dmjbkdm_li_j_clb\ i_^Zglbaf GZijbf_j h[tykgyy obfbq_kdbc hiul dhlhjuc dZiblZg klZjZ_lky ijh\_klb k fZdkbfZevghcdhjj_dlghklvxhgaZy\ey_l©?keb\ug_khql_l_wlhaZi_^Zglbaflhy fh]mjZ^b djZldhklbi_j_clbgZyaudnhjfmeªAZf_lbfqlh=_l_g_keh`gh[uehkha^Zlvh[jZaex[ys_]h ihjy^hd q_eh\_dZ lZd dZd h[jZa_p lZdhc ex[\b [ue m g_]h i_j_^ ]eZaZfb k kZfh]h ^_lkl\Z :ddmjZlghklv_]hjh^gh]hhlpZ^hoh^beZ^hi_^ZglbafZqlhb hibkZe=_l_\ jhfZg_©Ihwabyb ijZ\^ZªFgh`_kl\hfhf_glh\ih^l\_j`^Zxl^ZggmxoZjZdl_jbklbdmGZijbf_jijhba\_^_gby jbfkdbo ibkZl_e_c ^he`gu [ueb \ _]h [b[ebhl_d_ [ulv ij_^klZ\e_gu g_ij_f_ggh ]heeZg^kdbfbba^Zgbyfb ©LQTXDUWRª²©bakhh[jZ`_gbc\g_rg_]hih^h[byªGbqlhgZqZlh_g_ kf__l\ _]hij_^klZ\e_gbbhklZlvkyg_aZdhgq_gguf Qlh dZkZ_lky j_ZebaZpbb gZf_q_ggh]h lh \ wlhf kfuke_ fhc hl_p kh[ex^Ze hkh[h_ mihjkl\h JZa gZf_q_ggh_ ^he`gh [ueh \h qlh [u lh gb klZeh ^h\h^blvky ^h dhgpZ [m^v wlh ^Z`_ khijy`_gh k g_m^h[kl\Zfb kdmdhc ^hkZ^hc \iehlv ^h hkhagZgby [_kkfukebpu ihklZ\e_gghcp_eb ?keb kug ^ey k\hbo jbkmgdh\ [jZe g_ZddmjZlgh gZj_aZggmx [mfZ]m hl_p ihlhf ih^jZ\gb\Ze __ _keb `_ kug ihf_sZe g_kdhevdh jbkmgdh\ gZ h^bg ebkl [mfZ]b hg jZaj_aZe ebklb ijhkbefZkl_jZZddmjZlghih^h[jZlvjbkmgdbb i_j_ie_klb\uj_aZggh_<h\j_fy\hcgu \ qZklguohkh[gydZojZkd\Zjlbjh\u\Zebhnbp_jh\Hl_p=_l_kbevghkljZ^ZebaaZwlh]hhgg_ fh] ©hl^Zlv gZ q_clh ijhba\he lh qlh k lZdhc ex[h\vx hj]Zgbah\u\Ze q_f ijb\ud kZf jZkihjy`ZlvkyªOhlyjZkd\Zjlbjh\Zgguc\ k_fv_=_l_hnbp_j\_ek_[y[_amdhjbag_gghl_fg_ f_g__hl_p\klmibek gbf\ dhgnebdl< k\yabk wlbfhgh^gZ`^ug_\ur_ed aZ\ljZdmb p_euc ^_gvgbq_]hg__e@_g_hq_gvohl_ehkvhlijZ\blv_^m\ _]hdhfgZlm©ghlZdh]hg_ihjy^dZhl_p gbdh]^Z [u g_ ihl_ji_e ^Z`_ \ kZfuo djZcgbo kemqZyoª Kugm k\h_fm =_l_hl_p \gmrbe g_ijbyagvdh\k_f]hklbgbpZf ?fmdZaZehkvm`ZkgufieZlblvaZhldZahl\k_]hqlhijb\uqghb ^hjh]hk_j^pmieZlblvaZ lhqlhieyr_rvih^^m^dmohaybgZb hnbpbZglh\^Zd lhfm`__s_ieZlblv[hevrb_^_gv]b Ohly =_l_hl_p b bf_e kdehgghklv ihmqZlv gh wlZ kdehgghklv [ueZ l_kgh k\yaZgZ k ex[h\vx d ihjy^dm b[h ihmq_gby k\h^bebkv \ hkgh\ghf d ijbau\Zf [ulv ZddmjZlguf GZijbf_jdh]^Z^_lbmqbebkvjbkh\ZlvhggZqZemqblvky\f_kl_k gbfb^eylh]hqlh[uijhklh ih^Z\Zlv ijbf_j ©\_ebqZcr_c hijylghklb jbkmgdZª Z lZd`_ qlh[u lsZl_evg_crbf h[jZahf ke_^h\Zlvlhgdhklyfhjb]bgZeZ;hevrbgkl\hij_^f_lh\hl_p\hh[s_ij_ih^Z\Ze^_lyfkZf\ lhf qbke_ b lZgpu qlh \_kvfZ kljZggh khq_lZehkv k k_jv_aghklvx wlh]h q_eh\_dZ Dh]^Z hg m[_^beky\ g_aZmjy^ghch^Zj_gghklbk\h_]hkugZhgklZek [hevrbfmihjkl\hfgZklZb\ZlvgZ aZ\_jr_gbbgZqZlh]h Fhy jZ[hlZ gZ^ ©W]fhglhfª g_iehoh ih^\b]ZeZkv gh gZ^h ijbagZlvky hldjh\_ggh qlh f_gy^_gvb ghqvih^kl_]b\Zehl_pgZwlb\_sbhgkfhlj_eg_kdhevdhgZb\ghiheZ]Zyqlhlh qlhe_]dh[uehgZqZlvibkZl_exlZd`_e_]dh[m^_lb ^h\_klb^hdhgpZ Yjdh \ujZ`_gghc m hlpZ mihjy^hq_gghklb =_l_ qZklh ijhlb\hihklZ\ey_l kh[kl\_ggmx g_mklhcqb\hklvgh\ lh`_\j_fyhg\ugm`^_gijbagZlv ?keb bkdj_ggb_ klZjZgby hlpZ g_[ueb \ khklhygbbijb[Z\blv fg_ lZeZglZ lh \k_ `_ wlZ q_jlZ_]hex[h\vd ihjy^dmhdZaZeZgZf_gykdjulh_\ebygb_qlhiha^g__\hfgh]hfkdZaZehkv B ^_ckl\bl_evgh fu g_j_^dh klZedb\Z_fky b k ex[h\vx =_l_ d ihjy^dm b k _]h kdehgghklvx d ihmq_gbyf qZs_ \k_]h ² \ jhfZgZo ©=h^u mq_gby <bev]_evfZ FZckl_jZª b ©=h^u kljZgkl\bc <bev]_evfZ FZckl_jZª Hkh[_ggh wlb q_jlu [jhkZxlky \ ]eZaZ \ ©=h^Zo kljZgkl\bcª ² lZf ]^_ E_gZj^h hibku\Z_l \ k\h_f ^g_\gbd_ ijhp_kk h[jZ[hldb oehidZ ©dhlhjuc ^hklZ\ey_lky ba FZd_^hgbb b k DbijZ q_j_a Ljb_klª A^_kv ih^jh[gh hibku\Zxlky g_dhlhju_f_edb_jmqgu_ijb_fuj_f_keZdh]^ZE_gZj^hagZdhfblkyk ijy^bevghcl_ogbdhc\ lh]^Zrgbo fZgmnZdlmjZo Fu magZ_f h[hagZq_gby fZkku b ^ebgu ijy`b jy^ ki_pbZevguo \ujZ`_gbc lbiZ ©h[j_ahdª ©kdhjhklgZy h[jZ[hldZª QblZl_ev magZ_l djhf_ lh]h q_f hlebqZxlky^jm]hl^jm]ZjZaebqgu_kihkh[uijy^_gbyAZl_ffZkl_jih\hehdgZfkhh[sZ_l©l d fbehklb\uc ]hkm^Zjv h[h \k_f ohq_l bf_lv q_ldh_ ij_^klZ\e_gb_ª dh_qlh b h kf_`guo h[eZklyo ijhba\h^kl\Z gZijbf_j h kmohf ldZpdhf ijhba\h^kl\_ AZl_f j_qv b^_l h de__\hc h[jZ[hld_ ijy`b ijb wlhf kgh\Z gZau\Zxlky g_dhlhju_ ki_pbZevgu_ l_jfbgu ©hkgh\gZy gblvª ©gblb ^ey k_lqZlhc ldZgbª ©ijy`Z ih^e_`ZsZy hdjZkd_ª ©ijh\yadZ gbl_cª ©kgh\ZevgZyjZfZªB kgh\ZdZaZehkv[uqlhfZl_jbZeiheghklvxbkq_jiZgghlmlihy\ey_lky fZkl_jihj_fba_dhlhjuc_s_emqr_\k_agZ_lb hlg_]hfumagZ_ff_evqZcrb_ih^jh[ghklbh gZfZlu\Zgbbh gZdjmqb\Zgbbb fgh]h_^jm]h_< wlhff_kl_\ijhq_f^Ze_dhg__^bgkl\_gghf \ gZke_^bb\_ebdh]hibkZl_ey=_l_[_aljm^Zm[_`^Z_lgZk\ lhfqlhhgi_j_gyem k\h_]hhlpZ hq_gvfgh]h_ihqZklbex[\bd ihjy^dmb `_eZgbykhh[sZlvex^yfihmqbl_evgu_k\_^_gbyWlh ih^l\_j`^Z_lky b h^ghc ba [_k_^ =_l_ k Wdd_jfZghf =_l_ jZkkdZau\Ze _fm qlh \ k\h_f om^h`_kl\_gghfl\hjq_kl\_ihklhygghklj_fbekyd kheb^guffhlb\bjh\ZgbyfZ h^gZ`^u^_eh ^hreh ^h lh]h qlh hg kh[kl\_gghjmqgh \ibkZe Rbee_jm \ _]h ©DZimpbgkdmx ijhih\_^vª ^\_ klbohl\hjguo kljhdb k l_f qlh[u eh]bq_kdb h[hkgh\Zlv g_dh_ ih[hqgh_ h[klhyl_evkl\h Klj_fe_gb_ d ihjy^dm gZ^h iheZ]Zlv ku]jZeh k\hx jhev b \ lhf qlh =_l_ [ue g_ lhevdh ihwlhf gh b _kl_kl\hbkiulZl_e_f dZd [bheh] hg \k_]^Z iulZeky kbkl_fZlbabjh\Zlv lh qlh gZ[ex^Ze\ ijbjh^_< kemqZyodh]^Zm q_eh\_dZyjdh\ujZ`_guh[ZZkkhpbZlb\gu_qm\kl\Zhg h^gh\j_f_gghb klj_fblkyd mihjy^hq_gghklbb ijb\_lkl\m_lgh\h_Ex^yfh[eZ^Zxsbfl_f b ^jm]bf gjZ\ylky rmldb b dhfbq_kdb_ kblmZpbb gh\u_ g_h[uqgu_ kl_q_gby h[klhyl_evkl\ ^Zxlm^h\e_l\hj_gb_lZf]^_ ih^ gboih^\h^blky eh]bq_kdZy [ZaZ l _ ]^_ h[uqguc ihjy^hd kgh\Z \hkklZgZ\eb\Z_lky M g_dhlhjuo ibkZl_e_c bkihevah\Zgb_ hkljhl xfhjbklbq_kdbo dZeZf[mjh\ b]ju keh\ \ j_qb i_jkhgZ`_c klZgh\blky baex[e_gguf ijb_fhf Wlh @Zg Ihev <bev]_evfJZZ[_hlqZklbR_dkibjb ;Zcjhg;u\Z_lb lZdqlhZgZebabjm_fZyq_jlZg_bf__l ijyfh]hhlghr_gbyd oZjZdl_jmkZfh]hi_jkhgZ`Zb fuk ihegufijZ\hffh`_fijbibkZlv__ Z\lhjm LZd m JZZ[_ ijbkljZklb_ d qm^Zdh\Zluf ^_ckl\mxsbf ebpZf _]h jhfZgh\ fh`gh ihklZ\blv\ k\yavk _]hkdehgghklvxd dhfbafmM @ZgZIhey\ \ukr_ckl_i_gbk\h_h[jZagu_]h kjZ\g_gby d gbf ijbkh_^bgy_lky fgh]h g_heh]bafh\ g_i_j_\h^bfZy b]jZ keh\ gZijbf_j \ex[e_gguch[Zk\hb©kimlgbdZªl_h[Z]eZaZmklj_fey_ld k\h_fm©MjZgmªd \haex[e_gghc E_g_ll_©?\Z²i_j\Zy\ bklhjbb\hjh\dZy[ehdª@ZgIhevijb\h^bl\ k\hboijhba\_^_gbyo ij_\_ebdh_ fgh`_kl\h pblZl ba dhlhjuo ke_^m_l qlh wlhl q_eh\_d h[eZ^Ze wgpbdehi_^bq_kdbfb agZgbyfb Hg k gZkeZ`^_gb_f bkihevah\Ze bo qlh[u h[h]Zlblv k\h_ l\hjq_kl\h`b\hlj_i_smsbfbk\_^_gbyfbbajZaebqguoi_jbh^h\bklhjbbZ lZd`_bafgh]bo ^jm]bo gZmd ?keb g_ h[eZ^Zlv _]h ]jhfZ^guf aZiZkhf agZgbc lh qZklh ljm^gh mklZgh\blv y\eyxlkyebijb\h^bfu_bfnZdlubklhjbq_kdb^hklh\_jgufbbebkZf@ZgIhevboijb^mfZe b ebrv \ rmldm \u^Z_l aZ bklbgm GZijbf_j \ _]h jhfZg_ ©Ab[_gdwaª fu qblZ_f qlh `_gZ JZkbgZg_mf_eZhlebqblvebjbq_kdh_klbohl\hj_gb_hlljZ]_^bbghhgZ©l_fg_f_g__hlebqgh kijZ\eyeZkvk ^hfZrgbfohayckl\hfª: \hl^jm]ZybeexkljZpbylh]h`_lbiZFhgl_gvydh[u ij_^eZ]Ze[m^blvk_[y]em[hdhcghqvxqlh[u©hsmlblvlZcgmkgZªFugZoh^bfm g_]hlZd`_ k\_^_gbyh lhfqlhKhdjZlb DZlhgoh^bebihjughqgufiehsZ^yf[hkufb;Zcjhgih^h[guf `_ h[jZahf \ kh\_jr_ggh g_klZg^Zjlghc hkljhmfghc fZg_j_ k\yau\Z_l ^jm] k ^jm]hf nZdlu dhlhju_h[t_dlb\ghqj_a\uqZcgh^Ze_db^jm]hl^jm]ZdZdgZijbf_j]j_q_kdb_fbnub \_kvfZ ijhaZbq_kdb_kh[ulbyk_]h^gyrg_]h^gyBjhgbyihfh]Z_l_fmk\yaZlv\ukhdh_[eZ]hjh^gh_b ^Z`_ k\ylh_ k [ZgZevguf Z g_j_^dh b ihreuf <hl dZd hibku\Z_l hg ex[h\gh_ lhfe_gb_ \h \j_fyiml_r_kl\bygZdhjZ[e_k² Gh om`_ \k_o dhg_qgh lhrghlZ DZd [ulv ex[\b ij_djZkghfm iueZgvx Ijb [heyo \ gb`g_c qZklb `b\hlZ" KeZ[bl_evgh_ debafu jZklbjZgvy HiZkgu keh\m g_`ghfm ©f_qlZª : j\hlZ ^ey ex[\b kljZrg_c ba]gZgvy Gh fhc ]_jhc dZd gb [ue hg \ex[e_g ;ue dZqdhx gZ j\hlmhkm`^_g : \hlhibkZgb_dhjZ[e_djmr_gbyk GbqlhlZdg_kihkh[ghml_rZlv DZd^h[jucjhfb ieZf_ggZy\_jZ FZljhkukh[bjZykvmfbjZlv B ibebb fhebebkvk\ur_f_ju : \heguijh^he`Zeb[mr_\Zlv Dem[bebkvlmqb\ g_[_fmlghk_jhf B\lhjy\hxhd_ZgZ\\ukv Ijhdeylvyklhgub fhev[ug_kebkv KdeZ^u\Z_lky \i_qZle_gb_ qlh kdehgghklv d hkljhlZf rmldZf oZjZdl_jgZ ^ey gZlmj oheh^guo g_kihkh[guo gZ ]em[hdh_ qm\kl\h Gh wlh g_ lZd gZijhlb\ b @Zg Ihev b ;Zcjhg hlebqZxlky qj_a\uqZcgh kbevgufb wfhpbyfb I_j\uc [eZ]h^Zjy bf qZklh \iZ^Z_l \ k_glbf_glZevghklv Z \lhjhc klZe ebjbdhf k fbjh\uf bf_g_f RmldZ h[e_q_ggZy \ bjhgbq_kdmxnhjfmb ]em[hdhbkdj_ggb_ihju\uqm\kl\m ;ZcjhgZqZklhklhyljy^hfWlbgZ i_j\uc\a]ey^g_kh\f_klbfu_fhf_glugZoh^ylhljZ`_gb_\ _]hl\hjq_kl\_dZd[ug_aZ\bkbfh ^jm]hl^jm]ZM R_dkibjZfuhkh[_gghqZklh\klj_qZ_fkyk dZeZf[mjZfbb kb]jhckeh\?]h keh\_kgu_ rmldb k\b^_l_evkl\mxl \hi_j\uo h j_^qZcr_f nbeheh]bq_kdhf ^Zjh\Zgbb R_dkibjZ Z \h\lhjuo h lhf qlh \ `hg]ebjh\Zgbb keh\Zfb R_dkibj gZoh^be [hevrmx jZ^hklv B g_khfg_ggh qlh hg bf__l \ \b^m kh[kl\_ggh_ ijbkljZklb_ dh]^Z \deZ^u\Z_l \ dhf_^bb©DZd\ZfwlhihgjZ\blky"ªke_^mxsmxj_iebdm\ mklZ<bheu©>ZwlhijZ\^Zlhldlh mf__l eh\dh b]jZlv keh\Zfb lhl \fb] kihkh[_g ijb^Zlv bf ^\hydbc kfukeª : \kdhj_ ihke_ wlh]ha\mqblb j_iebdZrmlZ©IjZ\hy \h\k_g_rmly ijhklhimlZgbdq_eh\_dbkdZ`Zxsbc keh\Zª @hg]ebjh\Zgb_ keh\Zfb ihfh]Z_l R_dkibjm kha^Zlv hkh[mx oZjZdl_jbklbdm ex^_c hkljhmfb_dhehjblghklvkeh\_kguoj_Zdpbc²baex[e_ggucijb_f ^eykha^Zgbydhfbq_kdbo nb]mj < dhf_^bb ©Fgh]h rmfZ ba gbq_]hª ;_g_^bdl b ;_Zljbq_ ihklhyggh hq_gv dhedh bjhgbabjmxl^jm]gZ^^jm]hf< ©Dhf_^bbhrb[hdªhibkZggZyq_jlZyjdh\ujZ`_gZm >jhfbh KbjZdmakdh]h dhlhjuc hr_ehfey_l Zm^blhjbx ihlhdhf ]jhl_kdguo ]bi_j[he jbkdh\Zgguo kjZ\g_gbcdZeZf[mjh\kgh]krb[Zl_evguoihg_h`b^ZgghklbgZ]jhfh`^_gbcfuke_cb keh\< ijZjh^bl_evgbp_ wlhc dhf_^bb \ ©F_g_ofZoª IeZ\lZ h^bg ba i_jkhgZ`_c Klheh\Zy S_ldZ h[gZjm`b\Z_l koh^gmx kdehgghklv d rmldZf ijZ\^Z a^_kv hgZ f_g__ yjdh \ujZ`_gZ < ©<bg^ahjkdbo ijhdZagbpZoª Z aZl_f b \ ©=_gjbo_ ,9ª R_dkibjZ _]h Ibklhev ihklhyggh mihlj_[ey_l \ j_qb kljZggu_ khihklZ\e_gby ^_eZ_l \k_\hafh`gu_ aZ\mZebjh\Zggu_ gZf_db ijb\h^blpblZlu\k_wlhg_j_^dhi_j_kuiZ_lkyeZlbgkdbfbkeh\_qdZfbAZf_qZgb_k^_eZggh_ NZevklZnhf h lhf qlh \ex[e_gguc \a]ey^ kdhevagme ih _]h NZevklZnZ `b\hlm Ibklhev iZjbjm_lkeh\Zfb©AgZqblemqkhegpZmiZegZgZ\hagmxdmqmª<hfgh]boiv_kZoDZev^_jhgZ DeZjbgb]jZ_ljhevrmlgbdZ< iv_k_©K ex[h\vx g_ rmlylª DeZjbg \f_kl_ kh k\hbf ^jm]hf E_ihj_eehh[_ki_qb\Z_lk\hbfbrmldZfbb qm^Zq_kl\Zfbkf_ogZijhly`_gbb \k_]h^_ckl\by I_j_^ l_f dZd Pbjp_y ij_\jZsZ_l _]h \ h[_avygm hg mki_\Z_l kdhjh]h\hjdhc baeh`blv k\hx ihke_^gxxijhkv[m ?kebm`km`^_ghfg_ij_\jZlblvky\ h[_avygmlhijhrmhdZ`bfg_fbehklvk^_eZcf_gy kbfiZlbqgufwda_fieyjhfeh\dbfj_a\ufih^\b`gufWc\uq_eh\_dhih^h[gu_h[_avygu jZ^mcl_kvkdhjh\Zrbjy^uihihegylky < iv_kZo nbehkhnkdbo dZd gZijbf_j ©FZ]qm^hl\hj_pª k\h_h[jZaguc bkiZgkdbc ©NZmklª b \ ©@bagv ² wlh khgª DeZjbg k\hbf dhfbq_kdbf ih\_^_gb_f ihklhyggh h`b\ey_l ^_ckl\b_Hkh[_ggh\i_qZleyxlhkljhlu\ bjhgbq_kdhcnhjf_\ iv_k_©E_q_gb_gZ\h^ZoªEhi_ ^_ <_]Z >hgvy FZjq_eZ j_\gm_l k\h_]h `_gboZ dhlhjuc aZ\yaZe ^jm`[m k gZ[h`ghc ^Zfhc ij_dehggh]h\hajZklZl_l_c;_ZlhcGh\hl^jm`[ZdZd[m^lh^ZeZlj_sbgmk FZjq_eZLZdqlh`_kemqbehkv^hjh]hcfhc\haex[e_gguc"LugZr_eqlh_cg_o\ZlZ_l mfZ"Beb[ulvfh`_lhgZg_^hklZlhqghhijylgZ"Ih]h^by m`_agZxhgZihlj_[h\ZeZm l_[y aZex[h\vkebrdhffgh]h^_g_]^Z"BebkdZ`b\hlqlhg_lebm g__dZdh]hlZcgh]hl_e_kgh]h ihjhdZ"G_om^ZebhgZ^eyl_[y"G_kebrdhfebfbgbZlxjgZ"G_q_j_kqmjeboheh^gZhgZ\ ex[\b"G_fheblkyebh[hlims_gbb]j_oh\i_j_^dZ`^ufihp_em_f">Z]h\hjb`_gZdhg_py ]hjxg_l_ji_gb_f\k_magZlvbal\hbomkl H^gZdhFZjq_eZbjhgbabjm_lg_lhevdhlh]^Zdh]^ZhgZjZa]g_\ZgZIhke_ijbfbj_gbyhgZ aZy\ey_l`_gbom©Ghij_^\Zjbl_evghy ihijhrmk\hxk\ylhrml_l_gvdmqlh[uhgZohlvgZ^\Z ^gy h^he`beZ fg_ k\h_ ieZlv_ gZ^h i_j_kgylv nZkhg b aZdZaZlv k_[_ lhqv \ lhqv lZdh_ `_ lhevdh ijb wlhf mkeh\bb y kfh]m [ulv m\_j_gZ \ l\h_c ex[\bª < hl\_lghc j_iebd_ Jba_eh `_gbo dhjbl gZkf_rgbpm ©:o FZjq_eZ lu hklZ_rvky \k_]^Z \_jgZ k_[_ \_qgh rmlbrvª < ©:fnbljbhg_ª IeZ\lZ lhqgh lZd `_ dZd \ khhl\_lkl\mx sbo iv_kZo Fhev_jZ b De_cklZ _klv i_jkhgZ`Khpbcdhlhjuc \k_h[jZsZ_l\ rmldmh[gZjm`b\Zyijbwlhf[_a^gm gZoh^qb\hklb Ghk ^jm]hcklhjhguhgg_j_^dhijhy\ey_lb k\hx[_klhedh\hklv?s_yjq_khq_lZxlkywlb^\Z ijhlb\hiheh`gu_dZq_kl\Zm LjmnnZev^bghbadhf_^bb=hev^hgb©Kem]Z^\mo]hkih^ªQlh[u ihemqZlv\hagZ]jZ`^_gb_ba^\mobklhqgbdh\LjmnnZev^bghkem`bl^\mf]hkih^Zfkdju\Zyhl gbo qlh h^gh\j_f_ggh gZoh ^blky \ mkem`_gbb b m ^jm]h]h ;eZ]h^Zjy j_^dhklghc gZoh^qb\hklb hg \ keh`g_crbo kblmZpbyo kihkh[_g \uclb kmobf ba \h^u ^_ckl\my mfgh b \_kvfZeh\dhH^gZdhk ^jm]hcklhjhguhgqZklhih[_klhedh\hklbihiZ^Z_l\ijhkZdb l_jibl ih[hbLZdhgih]emihklb\kdjue\Z`gh_ibkvfhohlyqblZlvb g_mf__lLjmnnZev^bghfh`_l [ulvb hlqZygghg_jZklhjhi_ghgkimlZeq_fh^Zguh[hbo]hkih^b \_sbh[hboihiZebg_lm^Z dm^Z iheh`_gh baaZ wlh]h gZqbgZ_lky kmfZlhoZb kljZrgZy g_jZa[_jboZ LZd hg [_kij_ju\gh jZau]ju\Z_l lh oblj_pZ lh ijhklhnbex qlh \uau\Z_l dhfbq_kdbc wnn_dl Ikboheh]bq_kdb d lZdhfm jZa\blbx kx`_lZ g_evay dhg_qgh ih^oh^blv q_j_kqmj kljh]h Fh`gh [ulv \_kvfZ ijhgujeb\uf q_eh\_dhf l _ g_kfhljy gZ ijbfblb\guc \ h[s_f bgl_ee_dl h[eZ^Zlv kihkh[ghklvx[exklbk\hx\u]h^mH^gZdhex^bgbdZdg_fh]ml[ulvh^gh\j_f_gghkebrdhf mfgufbb kebrdhf]emiufbOhaybg\ ]hklbgbp_dhlhjh]hLjmnnZev^bghh[kem`b\Z_lk\hbo ]hkih^ ]h\hjbl h g_f ©GbdZd g_ fh]m ihgylv wlh]h km[t_dlZ Bgh]^Z hg hq_gv khh[jZabl_evgucZ bgh]^Zb \h\k_^mj_gvªGhlZddZdajbl_ebhl^mrb\_k_eylkybaaZdhfbafZ kblmZpbcgZkp_g_lhmihfygmlu_ikboheh]bq_kdb_ijhlb\hj_qbygbdhfmg_f_rZxlRmlh\\ om^h`_kl\_gghc ebl_jZlmj_ fh`gh kqblZlv bklbggu fb ijhn_kkbhgZeZfb ih qZklb hkljhl dZeZf[mjh\b]jukeh\²^hklZlhqgh\kihfgblvrmlZ\ ©Dhjhe_Ebj_ªR_dkibjZGh\k_wlb keh\_kgu_ rmldb kh^_j`Zl \ k_[_ h^gh\j_f_ggh gZf_d gZ g_ijbylgu_ bklbgu dhlhjuo ex^b gbdh]^Zg_jbkdmxl\ukdZaZlv\ukhdhihklZ\e_gghfmebpm[_ah[bgydh\ijyfh\ ]eZaZ :DP?GLMBJH<:GGU?EBQGHKLB< OM>H@?KL<?GGHCEBL?J:LMJ? IbkZl_eb g_j_^dh bah[jZ`Zxl \ k\hbo ijhba\_^_gbyo Zdp_glmbjh\Zgguo ebqghkl_c b ^_eZxl wlh lZeZgleb\h b m[_^bl_evgh h^gZdh wlh gbdh]^Z g_ y\ey_lky ^ey gbo kZfhp_evx Ij_`^_ \k_]h fgh]b_ Zdp_glmbjh\Zggu_ ebqghklb y\eyxlky \lhjhkl_i_ggufb i_jkhgZ`Zfb ohly\ jZa\blbbkx`_lZhgbb \uihegyxlhij_^_e_ggmxjhevghkZfbihk_[_fZehbgl_j_kmxl ibkZl_eyDjhf_lh]hibkZl_evij_ke_^m_lfgh`_kl\hp_e_cgZoh^ysbokyaZij_^_eZfbkn_ju ikboheh]bbb ijhklhg_bf__l\hafh`ghklblsZl_evgh\uibkZlvhkh[_gghklbebqghklbjZaguo ^_ckl\mxsbo ebp G_j_^dh gZdhg_p kZfb i_jkhgZ`b kem`Zl \hiehs_gb_f b^_b ijbgpbiZ ihjhc hgb aZ^mfZgu kdhj__ kbf\hebq_kdb lZd qlh \hh[s_ g_ fh]ml ij_^klZ\eylv ex^_c j_Zevguo <kihfgbf ohly [u h[jZau DZndb g_kfhljy gZ lh qlh \ bah[jZ`_gbb ibkZl_ey hgb g_h[uqZcghieZklbqgub hdZau\Zxlkbevgh_wfhpbhgZevgh_\ha^_ckl\b_hgb\k_`_hklZxlky g_ [he__ q_f kbf\heZfb >Z b kZfhihgylb_ ebqghklb \ om^h`_kl\_gghc ebl_jZlmj_ g_ \k_]^Z ljZdlm_lky \ ieZg_ km]m[h ikboheh]bq_kdhf wlh y\kl\m_l ohly [u ba g_h^ghdjZlgh pblbjh\Zgguo \ gZklhys_f ljm^_ keh\ >hklh_\kdh]h H[jZau Zdp_glmbjh\Zgguo ebqghkl_c gZoh^bf \ ijhba\_^_gbyo fgh]bo ibkZl_e_c b hkh[_ggh m >hklh_\kdh]h ?keb m g_]h Zdp_glmbjh\Zggu_ ebqghklb g_j_^dh klhyl gZ ]jZgb iZlheh]bb lh wlh fh`gh kqblZlv \ ba\_klghckl_i_gbij_bfms_kl\hflZddZdwlh^Z_l\hafh`ghklvih^q_jdgmlv\u^_eblvq_jlu ebqghklb <_^v hkh[h kljh]hc ]jZgbpu f_`^m Zdp_glmbjh\Zggufb b ikbohiZlbq_kdbfb ebqghklyfb dZd fu m`_ \b^_eb g_l >Ze__ fg_ ohl_ehkv [u hkh[h hlf_lblv dZd kha^Zl_ey h[jZah\ fgh]bo Zdp_glmbjh\Zgguo ebqghkl_c B_j_fbx =hlo_evnZ < _]h l\hjq_kl\_ Zdp_glmbjh\Zgghklv g_j_^dh ijbkmsZ ^Z`_ g_dhlhjuf \lhjhkl_i_gguf i_jkhgZ`Zf Djhf_ lh]h _]h i_jkhgZ`b l_kgh k\yaZgu k [ulh\uf hdjm`_gb_f qlh hkh[_ggh ijb[eb`Z_l bo d j_Zevghc^_ckl\bl_evghklb >_fhgkljZlb\gu_ebqghklb <_kvfZ qZklh \ om^h`_kl\_gghc ebl_jZlmj_ fu klZedb\Z_fky k ^_fhgkljZlb\gufb ebqghklyfb Bgh]^Z hgb e]ml b ^mjZqZl ex^_c lZd eh\dh qlh bf g_evay hldZaZlv \ Zdl_jkdbo ^Zgguo bgh]^Z `_ [he__ j_adh \ujZ`Zxlky bkl_jbq_kdb_ kbfilhfu @b\hklv ih^\b`ghklv bkl_jbdh\ kihkh[ghklv bo b]jZlv \k_\hafh`gu_ jheb fh]ml qj_a\uqZcgh h`b\blv jZkkdZa kx`_lgmx dZg\m Ihkdhevdm hgb kdehggu d jZkdh\Zgghfm fure_gbx Z l_f kZfuf gZ^_e_gu hkh[hc`b\hklvx\hh[jZ`_gbylhy kdehg_gij_^iheh`blvqlhfgh]b_Z\lhju\hkijbgbfZxl j_Zdpbb bkl_jbdh\ khqm\kl\_ggh dZd [ebadb_ bf kZfbf \_^v kiehrv b jy^hf m ibkZl_e_c l\hjq_kdbc ijhp_kk g_hl^_ebf hl j_Zdpbc lZdh]h lbiZ Dhk\_ggh_ ih^l\_j`^_gb_ wlhc fukeb fh`gh mkfhlj_lv \ lhf qlh qbkluc lbi ZgZgdZklZ \ om^h`_kl\_gghc ebl_jZlmj_ ihqlb g_ \klj_qZ_lky ZgZgdZklbq_kdh_ gZqZeh ih^Z\ey_l [h]Zlkl\h nZglZabb hldebdZ gZ \gmlj_ggbc kdeZ^lZdh]hlbiZibkZl_ev\ k\h_c^mr_g_gZoh^blihwlhfm_fmg_]^_b q_jiZlvfZl_jbZe^ey kha^Zgby lZdh]h h[jZaZ Ke_^m_l hlf_lblv qlh ^_fhgkljZlb\gu_ ijhy\e_gby g_j_^dh hibku\Z_fu_deZkkbdZfbg_\k_]^Zb^_glbqgu\klj_qZxsbfky\ gug_rg__\j_fyLZd\ wihom jhdhdh m ^Zf ijbgZ^e_`Zsbo d ZjbklhdjZlbq_kdbf djm]Zf kqblZehkv qmlv eb g_ ohjhrbf lhghf iZ^Zlv \ h[fhjhd \ k\yab k fZe_crbfb i_j_`b\Zgbyfb K lZdbfb j_Zdpbyfb klZedb\Z_fky m fgh]bo ]_jhbgv >hklh_\kdh]h H^gZdh iZjZee_evgh hg hibku\Z_l b lbibqgu_ ijbiZ^dbbkl_jbq_kdh]hdjbdZm lZdgZau\Z_fuodebdmrlk² Ijblygmebd g_fmh^gmdebdmrmaZh[_jmdbLZ_^\ZebrvaZ\b^_eZklZjpZ\^jm]gZqZeZ dZdlh g_e_ih \a\ba]b\Zy bdZlv b \ky aZljykeZkv dZd \ jh^bfp_ GZeh`b\ _c gZ ]heh\m wibljZobev klZj_p ijhq_e gZ^ g_x djZldmx fhebl\m b hgZ lhlqZk aZlboeZ b mkihdhbeZkv G_ agZx dZd l_i_jv gh \ ^_lkl\_ fh_f fg_ qZklh kemqZehkv \ ^_j_\gyo b ih fhgZklujyf \b^_lv wlbo debdmr Bo ijb\h^beb d h[_^g_ hgb \ba`Zeb beb eZyeb ihkh[Zqvb gZ \kx p_jdh\v gh dh]^Z\ughkbeb^Zjub boih^\h^bebd ^ZjZflhlqZk©[_kgh\Zgb_ªij_djZsZehkvb [hevgu_gZ g_kdhevdh \j_f_gb \k_]^Z mkihdZb\Zebkv F_gy j_[_gdZ hq_gv wlh ihjZ`Zeh b m^b\eyeh Gh lh]^Z `_ y mkeurZe hl bguo ihf_sbdh\ b hkh[_ggh hl ]hjh^kdbo mqbl_e_c fhbo gZ fhb jZkkijhku qlh wlh \k_ ijbl\hjkl\h qlh[u g_ jZ[hlZlv b qlh wlh \k_]^Z fh`gh bkdhj_gblv gZ^e_`Zs_x kljh]hklvx ijbq_f ijb\h^bebkv ^ey ih^l\_j`^_gby jZagu_ Zg_d^hlu Gh \ihke_^kl\bby km^b\e_gb_fmagZehlki_pbZebklh\f_^bdh\qlhlmlgbdZdh]hg_lijbl\hjkl\Z qlh wlh kljZrgZy `_gkdZy [he_agv b dZ`_lky ih ij_bfms_kl\m m gZk gZ Jmkb k\b^_l_evkl\mxsZyh ly`_ehckm^v[_gZr_ck_evkdhc`_gsbgu BlZd ljm^gh kdZaZlv [he_agv eb lh [ueZ beb ijbl\hjkl\h b dZdh_ ba wlbo hij_^_e_gbb [he__khhl\_lkl\h\Zehbklbgghfmiheh`_gbx\_s_cghm f_gykha^Z_lky\i_qZle_gb_qlhb kZf >hklh_\kdbcg_kh\k_fkh]eZk_g[uek fg_gb_f\jZq_c<ijhq_ffh`ghj_rbl_evgufh[jZahf ml\_j`^Zlv qlh khpbZevgh[ulh\u_ mkeh\by pZjb\rb_ \ lh]^Zrg_c Jhkkbb [_kkihjgh kihkh[kl\h\Zeb hibku\Z_fhc dZjlbg_ <ur_ fu dhkgmebkv lhevdh kZfbo j_Zdpbc H^gZdh N_^hj IZ\eh\bq hl_p [jZlv_\ DZjZfZah\uo bkl_jbq_g g_ lhevdh \ k\hbo j_Zdpbyo gh b dZd ebqghklv\ p_ehfG_j_^dhhdjm`Zxsb_gZau\Zxl_]hrmlgbdhfl_qlh_]hg_evayijbgbfZlv \k_jv_a ihkdhevdm hg \k_]^Z ebrv b]jZ_l g_dmx jhev >hklh_\kdbc hibku\Z_l gZijbf_j ke_^mxsmxqj_a\uqZcghZnn_dlbjh\Zggmxkp_gmlk² ²>fbljbcN_^hjh\bq²aZ\hibe\^jm]dZdbflhg_k\hbf]hehkhfN_^hjIZ\eh\bq² _keb[ulhevdh\ug_fhckuglhy \lm`_fbgmlm\ua\Ze[u\ZkgZ^mwevgZibklhe_lZogZ jZkklhygbblj_orZ]h\q_j_aieZlhdq_j_aieZlhd²dhgqbehglhiZyh[_bfbgh]Zfb?klv m klZjuoe]mgh\\kx`bagvk\hxijhZdl_jkl\h\Z\rbofbgmludh]^Zhgb^hlh]haZjbkmxlky qlhm`_\hbklbgm^jh`Zlb ieZqmlhl\heg_gbyg_kfhljygZlhqlh^Z`_\ wlhkZfh_f]gh\_gb_ bebk_dmg^mlhevdhkimklyfh]eb[ukZfbr_igmlvk_[_©<_^vlue`_rvklZjuc[_kklu^gbd \_^vluZdl_jb l_i_jvg_kfhljygZ\_kvl\hc©k\ylhcª]g_\b ©k\ylmxªfbgmlm]g_\Zª A^_kv >hklh_\kdhfm m^Zehkv ij_\hkoh^gh ihdZaZlv qlh bkl_jbdb fh]ml [ulv ^h kZfhaZ[\_gbyih]ehs_guk\h_cjhevxh^gZdh]^_lhgZaZ^g_fieZg_m gbo\iheg_khojZgy_lky khagZgb_j_Zevghklb< ^jm]hff_kl_>hklh_\kdbc]h\hjblh N_^hj_IZ\eh\bq_lk Gbdh]^Z b gbq_]h lZdh]h hkh[_ggh]h g_ agZqbe gZr fhgZklujv \ _]h `bagb b gbdZdbo ]hjvdbo ke_a g_ijheb\Ze hgbaaZ g_]h Gh hg ^h lh]h m\e_dky \u^_eZggufb ke_aZfb k\hbfb qlhgZh^ghf]gh\_gb_qmlv[uehkZfk_[_g_ih\_jbe^Z`_aZieZdZe[uehhlmfbe_gbygh\ lhl `_ fb] ihqm\kl\h\Ze qlh ihjZ ih\hjZqb\Zlv h]eh[eb gZaZ^ N_^hj IZ\eh\bq iZl_lbq_kdb jZa]hjyqbekyohlyb kh\_jr_gghykgh[uehm`_\k_fqlhhghiylvij_^klZ\ey_lkyGhFbmkh\ \k_lZdb[ue[hevghmya\e_g N_^hj IZ\eh\bq DZjZfZah\ ij_^klZ\ey_l kh[hc g_ lhevdh ^_fhgkljZlb\gmx ebqghklv [he__lh]hhgly`_eucbkl_jbq_kdbcikbohiZljZau]ju\Zxsbcjhebdhlhju_ihdZaZeb[u_]h k \u]h^ghc klhjhgu beb \h \kydhf kemqZ_ ijb\e_deb [u d g_fm \gbfZgb_ hdjm`Zxsbo <k_ _]h ihklmidb k\b^_l_evkl\mxl h lZdhc bf_ggh mklZgh\d_ LZd hg g_ ijhy\ey_l gb fZe_cr_]h lZdlZ \ hlghr_gbyo gb k i_j\hc gb kh \lhjhc k\h_c `_ghc ihklhyggh ijb\h^bl \ ^hf ihklhjhggbo `_gsbg gh gbkdhevdh g_ qm\kl\m_l k_[y \bgh\Zluf Ihke_ kf_jlb i_j\hc `_gu hgkh\_jr_gghg_aZ[hlblkyh j_[_gd_ihke_kf_jlb\lhjhc`_gu²g_bgl_j_km_lkyb ^\mfy jh^b\rbfbkyhlg__kugh\vyfbDZjZfZah\dZd[ugZqbklhaZ[u\Z_lqlhhg²hl_pkem]Z_]h \hl dlh [_j_l gZ k_[y ihi_q_gb_ h aZ[jhr_gguo ^_lyo <ul_kg_gb_ ih^h[ghc kl_i_gb ij_^iheZ]Z_lgZebqb_y\ghbkl_jbq_kdboij_^ihkuehdIha`_\k_ihklmidbhlpZgZijZ\e_gugZ lhqlh[uh[fZggufiml_febrblvkugh\_chkh[_gghklZjr_]hkugZqZklbgZke_^kl\ZI_j_^ gZfb bkl_jbd \ul_kgyxsbc \k_ lh qlh fh]eh [u ij_iylkl\h\Zlv hkms_kl\e_gbx _]h w]hbklbq_kdbo p_e_c < wlhf _fm kjh^gb Kf_j^ydh\ kug K_jZnbfu Kf_j^ys_c `Zedhc keZ[hmfghc `_gsbgu b g_aZdhgguc kug DZjZfZah\Z Kf_j^ydh\ ² obljuc emdZ\uc lbi ^hfZrg_]h kh]ey^ZlZy dhlhjuc h^gh\j_f_ggh ^hghkbl b hlpm b kugm ohly l_ `b\ml \ ihklhygghc\jZ`^_f_`^mkh[hcHgiulZ_lky\l_j_lvky\ ^h\_jb_b \lhjh]hkugZ\ua\Zlv_]h kbfiZlbb d k_[_ G_ [m^v hg bkl_jbdhf _fm dhg_qgh [ueh [u ljm^g__ \_klb klhev keh`gmx b]jm Kf_j^ydh\ lh ijbdb^u\Z_lky k_j^_qguf b bkdj_ggbf lh ijhy\ey_l jZ[he_igmx ihdhjghklv ?]h ijb_fguc hl_p gZklhevdh fZeh agZ_l _]h bklbggmx kmsghklv qlh \h \j_fy aZk_^Zgbykm^Zk [hevrhc]hjyqghklvxjmqZ_lkyaZ_]hq_klghklvIjhdmjhjoZjZdl_jbam_l_]h ijZ\^Z \ djZkdZo g_kdhevdh iZl_lbq_kdbo gh \k_ `_ m[_`^_ggh aZy\ey_l ke_^mxs__ l k ² ² ;m^mqb \ukhdh q_klguf hl ijbjh^u k\h_c fheh^uf q_eh\_dhf b \hc^y l_f \ ^h\_j_gghklv k\h_]h [ZjbgZ hlebqb\r_]h \ g_f wlm q_klghklv dh]^Z lhl \ha\jZlbe _fm ihl_jyggu_^_gv]bg_kqZklgucKf_j^ydh\gZ^h^mfZlvkljZrghfmqbekyjZkdZygb_f\ baf_g_ k\h_fm[Zjbgmdhlhjh]hex[bedZdk\h_]h[eZ]h^_l_ey < ^_ckl\bl_evghklb Kf_j^ydh\ [ue m[bcp_c lh]h dlh _fm lZd ^h\_jye Gh hg kmf_e ih^]hlh\blv\k_lZdqlhh[\bgy_fuf\ m[bckl\_hdZaZekyklZjrbckugdhlhjucb [uehkm`^_g aZ ij_klmie_gb_ Bkl_jbq_kdZy gZlmjZ Kf_j^ydh\Z kdZaZeZkv b \ lhf qlh hg kljZ^Zy wibe_ikb_c i_j_^ kh\_jr_gb_f m[bckl\Z kbfmebjh\Ze ijbiZ^hd dhlhjuc [ue gZklhevdh lbibqguf\h\k_o^_lZeyoqlhgbdlhg_khfg_\Zeky\ _]hih^ebgghklbIhkdhevdmhgkh]eZkgh k\b^_l_evkdbf ihdZaZgbyf gZoh^beky \ [_kkhagZl_evghf khklhygbb lh iheZ]Zeb qlh h Kf_j^ydh\_ dZd m[bcp_ g_ fh`_l [ulv b j_qb GZahceb\h_ bkl_jbq_kdh_ ih\_^_gb_ ih^h[gh_ ih\_^_gbx klZjbdZ DZjZfZah\Z Kf_j^ydh\m lZd`_ g_ qm`^h Dh]^Z B\Zg DZjZfZah\ ^h\_^_gguc ^h [_r_gkl\Z gZ]eh\uau\Zxsbf lhghf Kf_j^ydh\Z bah \k_c kbeu m^Zjbe _]h dmeZdhf\ ie_qhlhljZau]jZekbevg_cr__^mr_\gh_ihljyk_gb_lk < h^bg fb] \k_ ebph _]h h[ebehkv ke_aZfb b ijh]h\hjb\ ©Klu^gh km^Zjv keZ[h]h q_eh\_dZ [blvª hg \^jm] aZdjue ]eZaZ k\hbf [mfZ`guf k kbgbfb p\_lhqdZfb b kh\_jr_ggh aZkfhjdZggufghkh\ufieZldhfb ih]jmabeky\ lbobcke_agucieZq H[jZaKf_j^ydh\Z\ p_ehfiha\hey_lkha^Zlv ij_^klZ\e_gb_ b h[hl^_evguo dhfihg_glZo _]h ebqghklb _]h hlebqZ_l g_ lhevdh bkl_jbqghklv gh b \ _s_ [hevr_c f_j_ q_f N_^hjZ IZ\eh\bqZg_^hklZlhdwlbq_kdh]hgZqZeZl_hlkmlkl\b_qm\kl\Z^he]Zqm\kl\khi_j_`b\Zgby b khkljZ^Zgby Hg g_[eZ]h^Zj_g ih hlghr_gbx d ijb_fguf jh^bl_eyf fmqZ_l `b\hlguo jZ\gh^mr_g d ]hjx ^jm]bo ex^_c Gh g_ wlh \k_ aZklZ\ey_l ijbqbkeblv Kf_j^ydh\Z d Zdp_glmbjh\Zgguf ebqghklyf Z _]h ^Zj kdju\Zlv hl hdjm`Zxsbo k\hx wlbq_kdmx g_khklhyl_evghklvhgb]jZ_ljhebg_khhl\_lkl\mxsb__]h\gmlj_gg_fmkhklhygbxBkl_jbq_g b E_[_^_\ ba jhfZgZ >hklh_\kdh]h ©B^bhlª Hg kihkh[_g b]jZlv \k_\hafh`gu_ jheb fh`_l [ulv eZd_ckdb ih^h[hkljZklguf dh]^Z kqblZ_l wlh ^ey k_[y ihe_aguf gh fh`_l b gZ^_\Zlv fZkdm bkiheg_ggh]h ^hklhbgkl\Z \_ebqby E_[_^_\ e`_l g_ aZ^mfu\Zykv hg bgljb]m_l ibr_l Zghgbfgu_ibkvfZ²b \k_wlhk g_\bgg_crbf\b^hfQblZl_evihgbfZ_l\ dhgp_dhgph\qlh hg ijhklh g_ hkhagZ_l g_ihjy^hqghklb k\hbo ihklmidh\ E_[_^_\ mf__l [ukljh i_j_\hiehsZlvky gZijbf_j hg fh`_l ie_klb bgljb]b ijhlb\ hij_^_e_ggh]h ebpZ gh ^hklZlhqgh kblmZpbb baf_gblvky ² b hg i_j\uc ijhlyg_l wlhfm `_ q_eh\_dm jmdm ihfhsb Mljbjh\Zggu_ `_klu ]jbfZku klhev qZklh mihfbgZ_fu_ ijb hibkZgbyo bkl_jbdh\ lhj`_kl\_ggu_ ihau Z bgh]^Z b ke_au ih^q_jdb\Zxl l_ZljZevghklv fZg_j wlh]h i_jkhgZ`Z Hkh[_ggh \ujZabl_evgh ihdZaZgh Zdl_jkdh_ gZqZeh E_[_^_\Z \ lhf f_kl_ ]^_ ivyguc ]_g_jZe B\he]bgdjZ^_lm g_]h[mfZ`gbdk jm[eyfbE_[_^_\k kZfh]hgZqZeZohjhrhagZ_ldlh\hj gh hg \ k\hbo ijhkljZgguo j_qZo h[\bgy_l ^jm]h]h q_eh\_dZ dhlhjuc \ kbem khpbZevgh]h iheh`_gby kdhj__ fh] [u kh\_jrblv djZ`m q_f ]_g_jZe b g_ lhevdh h[\bgy_l ² hg jZajZ[Zlu\Z_lih^jh[gucieZgdZdmebqblvwlh]hq_eh\_dZKfuke_]hb]juaZdexqZ_lky\ lhf qlhE_[_^_\g_`_eZ_laZljZ]b\Zlv]_g_jZevkdh]h^hklhbgkl\ZZ ihwlhfmb g_kh[bjZ_lkyijyfh bah[ebqZlv _]h hg gZf_j_g ^h[blvky k\h_]h gh lhevdh obljhmfgh kdjulufb imlyfb Jy^ bkl_jbq_kdboebqghkl_cfu\klj_qZ_fm B_j_fbb=hlo_evnZ< ih\_klb©Dj_klvygkdh_a_jdZeh beb Bklhjby `bagb B_j_fbb =hlo_evnZª \ wlhf ieZg_ fh`gh ljZdlh\Zlv lhevdh h[jZa fZl_jb ibkZl_ey<hlqlhhgibr_lh g_ck FZlmrdZ fhy [ueZ ^hq_jvx f_edh]h eZ\hqgbdZ ]h\hjyl qlh \ fheh^hklb hlebqZeZkv djZkhlhc Z lZd`_ b dhd_leb\hklvx ih ohayckl\m b \ ihe_ gbdh]^Z gbq_]h g_ ^_eZeZ Z ij_bfms_kl\_ggh^_`mjbeZ\ eZ\d_bebkb^_eZi_j_^g_cgZkdZf__qd_b ^_eZeZ\b^qlhrv_l beb \y`_l Fgh]h \hh[jZ`Zxsb_ h k_[_ ^_\mrdb \ihke_^kl\bb g_j_^dh hlim]b\Zxl k\h_c [_kihjy^hqghklvxdhfgZlmk\hxfZlmrdZg_ijh\_ljb\ZeZb g_ijb[bjZeZ\ h^_`^_[jhkZeZkv hl h^ghc djZcghklb d ^jm]hc ² lh ihy\eyeZkv gZ ex^yo [_a\dmkgh b djbdeb\h h^_lZy lh \ hlqZygghg_jyreb\hf\b^_ijbq_fi_j\h_kemqZehkv\k_j_`_Z \lhjh_ih^dhg_pih\lhjyehkv bah^gy\ ^_gv LZdb_ oZjZdl_jbklbdb fZl_jb \ ih\_klb \klj_qZ_f g_h^ghdjZlgh ^_lvfb k\hbfb hgZ \hh[s_g_aZgbfZeZkvhgb[uebij_^hklZ\e_gukZfbfk_[_Ijbf_jgZahceb\h]hbkl_jbq_kdh]h [Zo\Zevkl\Z gZoh^bf \ ^\mo jhfZgZo =hlo_evnZ \ ©Meb[ZljZd_ª b \ ©MebZj_g^Zlhj_ª Fu bf__f\ \b^mWebab^hqv[h]Zlh]hdj_klvygbgZdhlhjZyh^gh\j_fyohq_l`_gblvgZk_[_Meb < kZfhc k_[_ hgZ g_ \b^bl gbq_]h hljbpZl_evgh]h g_ aZf_qZ_l keZ[hkl_c dhlhjuo m g__ gZ kZfhf^_e_fgh`_kl\hHgZo\Zkleb\hjbkm_lkyi_j_^Mebdhlhjh]hj_rbeZaZ\h_\Zlv\hqlh[u lhgbklZehk >Z hgZ [ueZ kZfuf djZkb\uf j_[_gdhf \h \k_c hdjm]_ DZd m\b^yl __ ex^b lZd ijhklh jmdZfb\kie_kgmlhl\hklhj]Zex[mxlkyb \k_ijb]h\Zjb\Zxl©Gmb j_[_ghdG_lijZ\hlZdhc djZkhlu fu _s_ gbdh]^Z \ `bagb g_ \klj_qZebª <k_ wlh Webab hlebqgh ihfgbl : dh]^Z hgZ ijb_oZeZ\hnjZgpmakdmxR\_cpZjbxlhb \lhfdZglhg_[he__djZkb\hc^_\hqdbg_hdZaZehkv S_qdbm g__[uebkeh\ghjZkdjZr_ggu_Z dh`ZgZebp_²lZdZy]eZ^dZyqlh\ g__ohlvdZd\ a_jdZeh kfhljbkv Dh]^Z hgZ i_j_[jZku\ZeZ q_j_a ie_qh ]blZjm gZ q_jghdjZkghc e_gl_ b lZd ijh]meb\ZeZkv m k\h_]h ^hfZ gZi_\Zy djZkb\u_ i_k_gdb b ZddhfiZgbjmy k_[_ gZ ]blZj_ lh \hdjm] g__ lheiZfb klhyeb fheh^u_ iZjgbb gZi_j_[hc moZ`b\Zeb aZ g_c hl g__ h^gh lhevdh lj_[h\Zehkv²kdZaZlv©^Zª\_^vhgZfh]eZbo^x`bgZfb\h^blvaZkh[hcgZ\_j_\hqd_fh]eZ \u[jZlvkZfh]hagZlgh]hbal_ox`guor\_cpZjp_\gmZ m`djZkZ\pZlZdh]haZihemqblvdZdhc a^_kv gbdhfm b g_ kgbeky Ex^b lZf \hh[s_ kh\k_f ^jm]b_ q_f a^_kv Gh lml kemqbehkv qlh hgZ Webab aZ[he_eZ _c ijbrehkv m_oZlv ^hfhc Z ^hfZ hlg_kebkv ijhklh lZd qlh om`_ g_ [u\Z_laZklZ\eyeb__ jZ[hlZlvdZdkZfmxijhklmxdj_klvygkdmx^_\mrdmZ _klvijboh^behkv lhevdhlZdh_qlhb \k_f^jm]bfex^yf[uehiheh`_ghih\_jvl_\hnjZgpmakdhcR\_cpZjbbb kh[ZdZ ijbebqgZy gZ lZdmx ibsm g_ ihkfhljbl LZd \hl k l_o ihj b g_ [ueh m g__ gb h^ghc k\_lehcfbgmldbGh_c_s_ih\_a_lihkfhljbfqvy\havf_l Bkl_jbqghklv Webab ijhy\ey_lky h^gZdh g_ lhevdh \ __ hke_ie_gbb kZfhc kh[hc gh b \ ^jm]bo ihklmidZo ?keb qlhgb[m^v ijhbkoh^bl \hij_db __ `_eZgbx hgZ mkljZb\Z_l ^bdb_ kdZg^Zeu \ky khljykZykv hl dhg\mevkb\guo ju^Zgbc g_j_^dh i_j_oh^ysbo \ bkl_jbq_kdbc ijbiZ^hd< jhfZg_©Meb[ZljZdª__ j_Zdpbbhibku\Zxlkyke_^mxsbfh[jZahfk ;h`_fhcgbdlhg_ohq_l__ ihjZ^h\Zlv\k_lhevdh^_j]Zxl__ bfmqZxlG_lemqr_\k_]h ^ey g__ [m^_l ihkdhj__ mf_j_lv Ih f_j_ lh]h dZd Webab ]h\hjbeZ \k_ wlh ju^Zgby __ klZgh\bebkv \k_ [he__ [mjgufb \ dhgp_ dhgph\ m g__ i_j_o\Zlbeh ^uoZgb_ fZlv \ugm`^_gZ [ueZ jZkkl_]gmlv _c ebn qlh[u kiZklb [_^gy`dm l d k_jv_agh ih\_jbeZ qlh Webab m`_ dhgqZ_lkyZ ihkdhevdm^h[jZyfZlmrdZgbdZdg_`_eZeZ__ kf_jlblhg_f_^e_gghhklZgh\beZb ihlhdmij_dh\ ?s_[he__y\kl\_gghh[jbkh\Zgbkl_jbq_kdbcijbiZ^hd\ ke_^mxs_ckp_g_k Kh[kl\_ggh klZjbd [ue g_ ijhqv hl^Zlv __ aZ Meb gh dZd lhevdh h[ wlhf aZoh^beZ j_qv Webab^_eZeZkvkh\k_fh^_j`bfhcgh]bb jmdb__ gZqbgZebih^_j]b\ZlvkygZ]m[Zo\uklmiZeZ i_gZlZdqlhhdjm`Zxsb_[hyebkvijbiZ^dZiZ^mq_c B lZdb_ kp_gu ih\lhjyebkv g_j_^dh IjZ\^Z bkl_jbq_kdhc ihl_jb khagZgby gb jZam g_ [ueh h^bg lhevdh jZaihke_ gZkbevkl\_gghcjZkijZ\u k kh[jZ\rbfbky mqbg_gghc __ [jZlhf ©Webab miZeZ [u \ h[fhjhdª dZd ibr_l kZf =hlo_evn ©_keb [u agZeZ dZd wlh ^_eZ_lkyª =hlo_evn m`_ lh]^Z agZe emqr_ q_f \jZqb _]h \j_f_gb qlh emqrbc kihkh[ ij_djZs_gby bkl_jbq_kdh]hijbiZ^dZ²g_h[jZsZlvgZbkl_jbdZ\gbfZgb_< ©MebZj_g^Zlhj_ª_klvlZdb_ Z\lhjkdb_keh\Zk AjygbdZdZyWebabg_aZieZq_lBlZddZdlhevdhgZrZ]_jhbgyaZf_lbeZqlhgZg__[hevr_ g_ h[jZsZxl \gbfZgby hgZ ij_djZlbeZ ieZq b aZgyeZkv \bghf b \_lqbghc aZf_lb\ qlh _keb gbdlhg_m]hsZ_llhgZ^hkZfhcijbgbfZlvkyaZ^_eh QZklh \ jhfZgZo =hlo_evnZ \klj_qZxlky ex^b ^h lZdhc kl_i_gb kZfh^h\hevgu_ b lZdb_ ijhc^hob ih gZlmj_ qlh bo \ihjm gZa\Zlv Z\ZglxjbklZfb iZlheh]bq_kdbfb e`_pZfb beb rZjeZlZgZfb h[hagZq_gby ijbgylu_ \ ikbobZljbb Bgl_j_kgh qlh wlbfb dZq_kl\Zfb fh]ml [ulv gZ^_e_gu b \lhjhkl_i_ggu_ i_jkhgZ`b dZdgZijbf_j agZoZjv Exjebi_l_je_ ba jhfZgZ ©MebZj_g^Zlhjª<hlqlhfuqblZ_fh g_fk LmlhggZqZejZkkdZau\ZlvdZdhgg_\_jhylghagZf_gblb qlhm g_]hbgh]^Zijhklhhl[hx g_lhl`_eZxsboihemqblv_]hmdZaZgb_b kh\_lBa\k_om]hedh\ =_jfZgbb ibrml _fm kZfu_ agZf_gblu_\jZqbdh]^ZihiZ^ml\ aZljm^gbl_evgh_iheh`_gb_Hgm`_g_h^gh]h\ua\hebeba [_^u gh gbdlh ba gbo h[ wlhf dhg_qgh g_ ibdg_l \ijhq_f \ _]h Exjebi_l_je_ dgb]_ \k_ aZibkZgh <hl d ijbf_jm h^bg gZibkZe _fm ba ]hjh^Z ih^ gZa\Zgb_f ;_jebg wlhl ]hjh^ ² klhebpZ Jhkkbb Ebph wlh ² gZ^\hjguc kh\_lgbd ih nZfbebb Rxeb hg aZijhkbe _]h k q_]h ke_^m_l gZqbgZlv dh]^Z klZg_l k\bj_ikl\h\Zlv ohe_jZ Ohe_jZ `_ _klv `_klhdh_ aZ[he_\Zgb_ gZqbgZ_lkyhghk gh]Z ih^dhg_p\hehkugZ]heh\_^_eZxlkyjZkdZe_ggufblZdqlhfh`ghh gbo aZ`b]Zlv kibqdb hg Exjebi_l_je_ ih^jh[gh h[tykgbe kh\_lgbdm qlh gZ^h ij_^ijbgbfZlv gh g_]h^yc b ih k_c ^_gv _]h g_ ih[eZ]h^Zjbe LZd \k_ hgb ih^e_pu ihklmiZxlihevamykv_]hkh\_lZfbklZgh\ylkygZ^\hjgufbkh\_lgbdZfbghgbh^bgq_eh\_dg_ agZ_l qlh kiZk_gb_ Jhkkbb [ueh ^_ehf jmd Exjebi_l_je_ : ihkh\_lh\Ze hg ke_^mxs__ dZ`^hfm [hevghfm aZ ^g_c ^h gZqZeZ [he_agb ^Z\Zlv lhevdh iZolm k[blu_ keb\db b keb\hqguc l\hjh] dhlhjuc ]hlh\yl lZd \ f_jd_ fhehdZjZklbjZ_lky h^bg nmgl l\hjh]Z b wlZ ihjpby^Z_lky[hevghfmdZ`^u_^\ZqZkZqlhb ij_^hojZgy_lhlaZ[he_\ZgbyL_i_jv\ Jhkkbb hlohe_jugbh^bgq_eh\_dg_mfbjZ_lb \k_wlh_]haZkem]ZGhjmkkdhfmpZjxgbq_]hh[wlhf g_ kdZ`ml h[ wlhf Exjebi_l_je_ ki_pbZevgh ijhkbe Z g_ lh _s_ q_]h ^h[jh]h gZagZqZl _]h gZ^\hjgufkh\_lgbdhfqlh_fmkh\k_fkh\k_fgb dq_fm Lh`_fh`ghkdZaZlvh[h^ghf\lhjhkl_i_gghfi_jkhgZ`_\ jhfZg_©Meb[ZljZdªWlh² g_dZy DZlb dhlhjZy \kyq_kdb iulZ_lky `_gblv gZ k_[_ Meb b l_f kZfuf f_`^m ijhqbf ^Z_l \hafh`ghklv ]_jhx jhfZgZ ihdZaZlv k\hx klhcdhklv b \u^_j`dm ?_ iZlheh]bq_kdh_ o\Zklh\kl\h ih kh^_j`Zgbx iheghklvx hl\_qZ_l djm]m ij_^klZ\e_gbc dj_klvygkdhc ^_\mrdb DZlbiho\Zey_lkyg_lhevdhl_fqlhklZg_lgZke_^gbp_c[h]Zlhcl_lmrdbghlZd`_b l_fqlh\ jZ[hl_hgZdj_iq_b \ughkeb\__ex[h]hfm`qbguH[jZaZ\ZglxjbklZij_^klZ_li_j_^gZfb\ ebp_ ]_jhy jhfZgZ =hlo_evnZ ©KljZgkl\by Ydh\Zih^fZkl_jvy ih R\_cpZjbbª Ijb[u\ \ ;Za_ev Ydh\ kjZam gZqbgZ_l k ijb\uqgh]h _fm \jZgvy b [Zo\Zevkl\Z [hevr_ \k_]h klZjZykv kdjulvk\h_\_kvfZkdjhfgh_ijhbkoh`^_gb_k B ^Ze__ hg khqbgy_l qlh [Z[mrdZ m g_]h hlqZyggh [h]ZlZ m g__ h]jhfguc dj_klvygkdbc ^\hj ^Zd lhfm `_ _s_ ihegh `_e_agh^hjh`guo Zdpbc Gh [Z[dZ \[beZ k_[_ \ ]heh\m qlh hg ^he`_g`_gblvkygZ[h]Zlhc^_j_\_gkdhc^_\bp_jh^kl\_ggbp_k_evkdh]hklZjhklu;_^Z\ lhf qlh`_gblvkygZg_chagZqZeh[ugZ\k_]^ZhklZlvkyh]jZgbq_ggufdj_klvygbghfhg`_b fukeb lZdhc g_ ^himkdZ_l ihwlhfm hg b hlijZ\beky gZ qm`[bgm d [hevrhc ^hkZ^_ klZjmob ?keb lhevdhhgZmagZ_l]^_hggZoh^blkylhhgZlml`_eb[hijbre_laZgbfdheykdmgZiheg_ggmx ^h \_jom lZe_jZfb b hdhjhdZfb eb[h kZfZ aZ gbf ijb_^_l b \jmqbl ie_fyggbdm dhr_e_d gZ[bluc^_gv]Zfb[ulvfh`_lwlh[m^_lb iheguc[mfZ`gbdZdpbc`_e_aghc^hjh]bghijb \k_omkeh\byohgZ[m^_lmfheylvqlh[uhg\_jgmeky^hfhc DZdb ijhqb_bkl_jbq_kdb_e]mguYdh\k\hbnZglZabbij_ih^ghkbllZdm\_j_gghqlh_fm \k_\_jylb \kx^mhgbf__lmki_ok Khqbgyehgk\hbg_[uebpuk \_ebqZcrbffZkl_jkl\hfb \k_hohlgh\_jbebdZ`^hfm_]h keh\m QZklh ijhkykv \ ^hf gZ ghqe_] hg keurZe ]hehk ^hghkb\rbcky ba dmogb ©FZlmrdZ ihkemrZcdZhg\b^ghg_baijhkluoiZj_gvk ^_gv]ZfbgZ^h[m^_lk\_`__ihkl_evgh_[_ev_ _fm ^Zlv Z fh`_l [ulv ijb]eZkbf hldmrZlv k gZfb"ª ² ©DZd ohq_rv ^hq_gvdZ ² fh`gh b ijb]eZkblvª ² jZa^Z\Zehkv \ hl\_l B \hl Ydh\Z m]hsZeb dZd ihq_lgh]h ]hkly aZ k_f_cguf klhehf b _e hg dZd \ kZfhf emqr_f ljZdlbj_ aZ [hevrb_ ^_gv]b b ibe hlebqg_crb_ \bgZ jZaguokhjlh\b kiZegZjhkdhrghcihkl_ebZ mljhf_fmih^Z\ZebqZrdmrhdheZ^Zk dmkdhf ij_\hkoh^gh]hibjh]Z BlZd i_j_^ gZfb h[jZa lbibqgh]h Z\ZglxjbklZ GZ ^_\bp Ydh\ \k_]^Z ijhba\h^bl g_hljZabfh_ \i_qZle_gb_ b ihkl_i_ggh kdZlu\Z_lky ^h jheb [jZqgh]h Zn_jbklZ LZd hg ijbgbfZ_lhl[_^ghc^_\mrdbdhlhjZy_]hex[blb _^mb h^_`^mb __ihke_^gb_^_gv]bGh \hlDZljbaZ]h\Zjb\Z_lh [jZd_lZddZd`^_lj_[_gdZb Ydh\g_f_^e_gghbkq_aZ_lba]hjh^dZ g_hklZ\eyyaZkh[hcgbq_]hdjhf_^he]h\Ba^Zevg_cr_]hih\_kl\h\ZgbyfumagZ_fqlhYdh\ ihiZ\\ kj_^mk\ylhrklZgh\blky\_kvfZgZ[h`gufb i_j_oh^blgZkl_ax^h[jh^_l_ebKe_^m_l hlf_lblv qlh ikboheh]bq_kdb [e_k lys__ hibkZgb_ bkl_jbq_kdh]h e]mgZ ^Zggh_ \ gZqZe_ jhfZgZ ijhba\h^bl dm^Z [he__ m[_^bl_evgh_ \i_qZle_gb_ q_f wlb ihk e_^gb_ ]eZ\u Bkl_jbq_kdbf ijbl\hjsbdhf ke_^m_l ijbagZlv b fhev_jh\kdh]h LZjlxnZ dhlhjuc ihehg km]m[h dhjuklhex[b\uo p_e_c jZau]ju\Z_l ba k_[y kfbj_gghgZ[h`gh]h q_eh\_dZ Z \ dhgp_ dhf_^bb ² g_dhlhjh_ \j_fy ^Z`_ ij_^Zggh]h kem]m dhjhey <ijhq_f [_ah]h\hjhqgh \_jyl wlhfm ijbl\hjsbdm lhevdh ohay bg ^hfZ b [Z[mrdZ \k_ hklZevgu_ kqblZxl _]h ebp_f_jhf b iemlhfBf_gghlZdZykblmZpbyikboheh]bq_kdbfZehijZ\^hih^h[gZ>_eh\ lhfqlhbkl_jbdb Z\Zglxjbklu h[uqgh bkdexqbl_evgh m^Zqgh ijbkihkZ[eb\Zxlky d hdjm`Zxsbf b ihdhjyxl \k_oGZijhlb\Z\ZglxjbklZEmafZgZ©jupZjyFbjZdeyªbah^ghbf_gghc^jZfuEhi_^_<_]Z fh`ghkqblZlvoZjZdl_jgufbkl_jbq_kdbfrZjeZlZghf?keb_fm\k_]^Zm^Z\Zehkv^hklb]gmlv gZf_q_gghcp_eblhwlhh[tykgyehkvg_qm^hfg_©fbjZde_fªZ _]hbkl_jbq_kdbf^ZjhfHg² lh`_k\h_]hjh^Z[jZqgucZn_jbkllZddZdjZau]ju\Z_li_j_^`_gsbgZfb[_amfgmxex[h\vZ \ ^_ckl\bl_evghklb bgl_j_km_lky lhevdh bo [h]Zlkl\hf b \gmlj_gg_ hklZ_lky Z[khexlgh oheh^guf?]hkem]ZLjbklZg]h\hjblh[jZsZykvd g_fm ²Lug_ex[brvgb h^ghcba\k_owlbofgh]hqbke_gguo[Z[hq_dm\b^Z\ex[mxlulml`_ h\eZ^_\Z_rv_xb \u[jZku\Z_rv\hgdhsmgkl\_gghihibjZyaZdhguijbjh^u EmafZg \ lh `_ \j_fy ² lbi Z\ZglxjbklZ Ihemqb\ hl [h]Zlhc ^Zfu kh[eZag_gghc bf fgh]h^_g_]hgohq_lmihlj_[blvbogZlhqlh[udmiblvqZklbqdm©nhgª\ ^h[Z\e_gb_d k\h_c nZfbebbghihlhf_fmijboh^bl\ ]heh\mqlhwlh]hkebrdhffZehb khqbgy_lk_[_ke_^mxs__ bfy ©>hg EmafZg nhg Lhe_^h b FZg^haZ=bjhgWgjbd_pEZjZª Dh]^Z ohaybgm ]hklbgbpu gZau\Zxlwlhbfyhgm\_j_gqlhijb[uehg_kdhevdhihklhyevp_\JZkiheZ]Zy^_gv]ZfbEmafZg fh`_li_j_[jZlvkybaJbfZ\ BkiZgbxb aZjZg__f_qlZ_lh lhfdZdhg[m^_ljZkkdZau\Zlvk\hbf agZlgufagZdhfufihkeZggbdZfb dZj^bgZeZf©h k\h_f^jm]_iZi_ªEmafZgihdhjy_l`_gsbg mf_gb_f^_fhgkljZlb\ghijbl\hjylvkyHg]h\hjblkZfh k_[_ ² F_gy gb h^gZ g_ aZfZgbeZ \ k\hb k_lb qlh dZkZ_lky bo lh \k_o dh]h y gZf_lbe k_[_ himlZlvy aZf_qZl_evgh\h^beaZbo`_kh[kl\_ggucghkbdYdZdagZf_gbluchj]Zgbklb]jZx gZ fgh]bo j_]bkljZo y ij_djZkgh ih^jZ`Zx \a^hoZf ex[h\gh]h lhfe_gby ba^Zx klhgu \ fhf_glex[h\ghc[hjv[umf_xbah[jZablvb ke_aub j_\ghklvb mijyfkl\hb ]g_\b hlqZygv_ ²\kx^mlZf]^_wlhgm`gh^Zy fh]mijbl\hjylvkyqlhbkiulu\Zxex[h_qm\kl\h=emiu_ dmjbpu`_gsbgu\_jyl\ bkdj_gghklvfh_cb]juhgbihkemrgh^_eZxl\k_qlhy ijbdZau\Zx JZa\_lub kZfqZklhg_gZ[ex^ZedZdhgb]hlh\uih^Zjblvfg_\k_qlhm gbo_klv" Kem]Z_]hih^l\_j`^Z_lgZebqb_m EmafZgZj_^dh]hZjlbklbq_kdh]h^ZjZ DZd hg ki_dmebjm_l dZd jZkkqblu\Z_l DZdbf ijbl\hjy_lky mfgbdhf DZd hg ^\mebq_g b kdhev emdZ\u _]h j_qb Hg \uijZrb\Z_l mfhey_l hg lj_[m_l ijbdZau\Z_l lh kfbj_ggh [e_^g__llhdjZkg__lhl]g_\Z²b \k_`_\k_]^ZgZoh^bl_^bgkl\_ggh\_jgh_keh\h\ \_jguc fhf_gl < nbgZe_ iv_ku EmafZg iheghklvx jZahj_g _]h h]jZ[beb kem]b dhlhjuf hg g_ mieZlbe `Zeh\Zgvy B \ wlhl fhf_gl hg _s_ jZa ^_fhgkljbjm_l \_jo e`b\hklb aZy\eyy ©Y [eZ]hjh^g_crbcq_eh\_d^mrZfhyijZ\^b\ZaZ\kx`bagvy gbjZamg_khe]ZeªOZjZdl_j_g^h f_evqZcr_c^_lZebb ©:\ZglxjbklN_ebdkDjmevªLhfZkZFZggZ?]hfZg_julZd_kl_kl\_ggu b m\_j_guqlhgbm dh]hg_\hagbdZ_lkhfg_gby\ _]hijZ\^b\hklbdh]^ZhgjZau]ju\Z_ljhev fZjdbaZ ^_ <_ghklZ Hg b ^h wlh]h m`_ ijhy\eye k_[y dZd ^_fhgkljZlb\gZy ebqghklv \ qZklghklbk ihfhsvxbkl_jbq_kdh]hijbiZ^dZ^h[bekyhk\h[h`^_gbyhlkem`[u\ Zjfbb?keb [ugZfg_[uehba\_klghqlhLhfZkFZggfgh]h\j_f_gbihk\ylbebamq_gbxf_^bpbgulhgZk fh]eb[uihjZablv[e_kdb f_ldhklvk dhlhjufbhg\ue_ibeaZdhgq_gguch[jZabkl_jbq_kdh]h Z\ZglxjbklZ< k\yabk wlbfmf_klgh\kihfgblvb dhf_^bx©E`_pªDhjg_ey?_]_jhc>hjZgl e`_l lZd qlh fu g_ fh`_f g_ ih^mfZlv h SVHXGRORJLD SKDQWDVWLFD H^gZdh eh`v >hjZglZ \ dhf_^bb ij_^klZ\e_gZ dZd [u bahebjh\Zggh b[h \h \k_f hklZevghf ebqghklv >hjZglZ gbkdhevdh g_ ihoh`Z gZ Z\ZglxjbklZ LZdbf h[jZahf \ wlhc dhf_^bb eh`v \k_ `_ kem`bl g_ oZjZdl_jbklbd_e`b\hcebqghklbZ kha^ZgbxdhfbafZkblmZpbc< fbjh\hcbklhjbbfufh`_f mdZaZlvgZlZdh]hbkl_jbq_kdh]hikbohiZlZdZdbfi_jZlhjG_jhg< k\h_fjhfZg_ ©4XRYDGLV"ª K_gd_\bq bah[jZ`Z_l G_jhgZ dZd yjdbc bkl_jbq_kdbc h[jZa < G_jhg_ihwl_ G_jhg_i_\p_ G_jhg_\hagbq_fm K_gd_\bqZ\kx^mqm\kl\m_lkyZnn_dlb\ghklvb l_ZljZevghklvG_jhg\_^_l k_[y lZd keh\gh hlgx^v g_ y\ey_lky ij_klmigbdhf gZ jbfkdhf ljhg_ Z \eZkl_ebghf iheguf [eZ]hjh^kl\Z b ex[\b d gZjh^m Dh]^Z hg hldZau\Z_lky hl h^gh]h ba iml_r_kl\bc baaZ aeh\_sbo ij_^agZf_gh\Zgbc hg ebp_f_jgh aZy\ey_l qlh hldZaZeky ©ba ex[\b d k\hbf kh]jZ`^ZgZfm\b^_\i_qZevgZboebpZohg`_eZ_lhklZlvkyk gbfbdZdhl_pkhk\hbfb^_lvfb qlh[u^_eblvk gbfbjZ^hklvb ]hj_ªHg\hkdebpZ_l©G_^mfZ_rvebluqlhm f_gyf_gvr_ ^mr_\gh]h \_ebqby q_f m ;jmlZ dhlhjuc jZ^b [eZ]Z bfi_jbb g_ ihsZ^be kh[kl\_gguo kugh\_c"ª>Z`_ih^ebggu_bkdj_ggb_qm\kl\ZkZfh]hG_jhgZg_baf_gghhdZau\Zxlky\ q_flh l_ZljZebah\ZggufbGZijbf_jdh]^ZmfbjZ_l_]h^hqmjdZd dhlhjhchg[uekbevghijb\yaZg hg^_j`blk_[yqj_a\uqZcghZnn_dlbjh\Zggh Ihohjhgu ij_\jZlbebkv \ lhj`_kl\_ggh_ ljZmjgh_ r_kl\b_ \h \j_fy dh lhjh]h gZjh^ fheqZkha_jpZe[mjgu_ijhy\e_gby]hjyho\Zlb\r_]hp_aZjyG_jhgijbkemrb\Zekyd keh\Zf ml_r_gbyk_gZlhjh\mklj_fb\\a]ey^\ imklhlmk hdZf_g_\rbfebphf>Z[ulvfh`_lhgb \ kZfhf^_e_]em[hdhkljZ^Zeghh^gh\j_f_gghhg^mfZeb hlhfdZdh_\i_qZle_gb_ijhba\h^bl _]hkljZ^Zgb_gZijbkmlkl\mxsboHgbah[jZ`ZeGbh[_xhgjZau]ju\Zekp_gmm[blh]h]hj_f hlpZb gbh^bgZdl_jgZih^fhkldZog_fh][ujZau]jZlvwlmkp_gmemqr__]h Bf_ehkv eb m G_jhgZ gZjy^m k bkl_jbq_kdhc ikbohiZlb_c lZd`_ hlkmlkl\b_ wlbq_kdbo ijbgpbih\ dZd wlh ij_^klZ\ey_l K_gd_\bq" IheZ]Z_f qlh _^\Z eb >hklZlhqgh \kihfgblv ]jhfZ^gmx\eZklvkhkj_^hlhq_ggmx\ jmdZoG_jhgZ_]hkh\_jr_gghh[hkgh\ZgguckljZoi_j_^ aZ[hjhfb `_klhdb_gjZ\uwlh]h\j_f_gbhibku\Z_fu_kZfbf`_ibkZl_e_fqlh[uhl[jhkblv nZdlhj ms_j[ghklb wlbq_kdh]h gZqZeZ AZf_klbl_eb G_jhgZ \ _]h hlkmlkl\b_ \_^ml k_[y _s_ [he__ `_klhdh q_f hg kZf IjZ\^Z _klv h^bg ihklmihd dhlhjuc \uoh^bl ^Ze_dh aZ ij_^_eu ijhy\e_gbcbkl_jbq_kdhc`Z`^ukZfhml\_j`^_gbyG_jhg\_eblaZ^mrblvfZe_gvdh]hkugbrdm k\h_c ex[h\gbpu aZ lh qlh fZeur g_ hp_gbe dZdh]hlh iZl_lbq_kdh]h jZkkdZaZ G_jhgZ b \ kZfuc\hegmxsbcfhf_glaZkgme Ke_^m_l h^gZdh aZf_lblv qlh G_jhg b [_a lh]hg_gZ\b^_e wlh]hfZevqbdZhgbkdZeebrvih^oh^ysbcih\h^^eykh\_jr_gbyaeh^_ygbyHklZgh\bfky_s_ jZa gZ \k_o ijhZgZebabjh\Zgguo lml h[jZ aZo bkl_jbdh\ Fh`_l kha^Zlvky \i_qZle_gb_ qlh bkl_jbq_kdb_ ij_^ihkuedb ikbobdb kem`Zl bkdexqbl_evgh ^hklb`_gbx w]hbklbq_kdbo p_e_c H^gZdh wlh ^Ze_dh g_ \k_]^Z lZd ihwlhfm \ om^h`_kl\_gghc ebl_jZlmj_ gZoh^yl hljZ`_gb_ b \iheg_ iheh`bl_evgu_ \ wlbq_kdhf ieZg_ bkl_jbq_kdb_ ebqghklb Fh`gh mdZaZlv gZ ^jZfm Rbee_jZ ©AZ]h\hj Nb_kdh \ =_gm_ª K\hc \_ebdbc ^Zj ijbl\hjkl\Z Nb_kdh klZ\bl gZ kem`[m ^h[jm Hg [hj_lky ijhlb\ lbjZgbb \ =_gm_ \ i_j\mx hq_j_^v ijhlb\ l_o [_kqbgkl\ dhlhju_ l\hjblie_fyggbd]_jph]Zkhk\hbfb^jm`dZfbNb_kdh^ey\b^bfhklbdZd[uh[t_^bgy_lkyk \jZ]Zfbb jhevk\hxb]jZ_lk lZdbfkh\_jr_gkl\hfqlh^Z`__]h_^bghfure_ggbdbgZqbgZxl ih^haj_\Zlv _]h \ baf_g_ ;eZ]h^Zjy [e_klys_fm ijbl\hjkl\m m[Zxdb\Zxs_fm ih^haj_gby \jZ]h\ [hjv[Z Nb_kdh b aZ]h\hjsbdh\ ijhoh^bl mki_rgh Dhg_qgh g_ lhevdh b]jZ gh b wg_j]by ]_jhy bf_eZ agZq_gb_ \ ^hklb`_gbb iheh`bl_evgh]h j_amevlZlZ Ih^ dhg_p h^gZdh \uykgy_lky qlh Nb_kdh ih^lZedb\Z_fuc ls_keZ\b_f kZf ohq_l aZgylv f_klh k\_j]gmlh]h ]_jph]ZLZdbfh[jZahfbkl_jbq_kdb_q_jluebqghklbNb_kdh\ dhg_qghfkq_l_kem`Zl\k_`_ p_eyf w]hbklbq_kdbf dZd fu b gZ[ex^Zeb \ \ur_ijb\_^_gguo ijbf_jZo Fh`gh ijb\_klb b ^jm]hc ijbf_j ² ke_^h\Zl_ey Ihjnbjby ba ©Ij_klmie_gby b gZdZaZgbyª >hklh_\kdh]h Ihjnbjbc h[eZ^Z_l g_h[udgh\_gguª b kihkh[ghklyfb ijbdb^u\Zlvky b]jZlv jhev H[ wlhf k\b^_l_evkl\mxl_]hjZa]h\hjuk JZkdhevgbdh\uf²\k_j_iebdbb \hijhkuih^o\Zlu\Zgb_b ljZdlh\dZ bf keh\ JZkdhevgbdh\Z ^Z b kZfh ih\_^_gb_ Ihjnbjby I_ljh\bqZ kf__lky eb hg ohohq_l beb gZijhlb\ khojZgy_l k_jv_aghklv kZ^blky eb jy^hf k JZkdhevgbdh\uf beb oh^bl \aZ^ b \i_j_^ ih dhfgZl_ ² \k_ wlh b]jZ Ex[hiulgh b lh dZd \hkijbgbfZ_l ke_^h\Zl_ev jZaebqgu_ j_Zdpbb JZkdhevgbdh\Z ² bkim] ih[e_^g_gb_ \g_aZigh ho\Zlu\Zxsmx Jh^bhgZ keZ[hklvbebijbklmiu_]h]g_\Z<k_wlh\uau\Z_lb mkZfh]hJZkdhevgbdh\ZZ \ke_^aZgbfb m qblZl_ey g_baf_gguc lj_\h`guc \hijhk ² dZdh\u `_ bklbggu_ fukeb Ihjnbjby qlh hg gZf_j_\Z_lky^_eZlv\ q_faZdexqZxlky_]hkdjulu_p_eb"GZi_j\uc\a]ey^b \k_keh\Z_]hb fZg_judZ`mlkykh\_jr_ggh[_ah[b^gufbJZkdhevgbdh\lZdb kdehg_gbojZkp_gb\Zlvgh\k_ `_aZgbfbg_baf_gghhsmsZ_lkyklj_fe_gb_ke_^h\Zl_eybah[ebqblvm[bcpm>\hydbckfuke keh\`_klh\ih^oh^ZIhjnbjby\ p_ehfd k\h_fmih^ke_^kl\_gghfmhdZau\Z_lkygbq_fbguf dZdobljhmfguff_lh^bq_kdbfijb_fhfJZkdhevgbdh\^he`_gihklhygghij_[u\Zlv\ rZldhf g_mklhcqb\hf khklhygbb ^he`_g [ulv g_m\_j_g k\h[h^_g eb hg _s_ beb m`_ fh`_l kqblZlv k_[yih]b[rbfgZijy`_gb_b [_kihdhckl\h_]h^he`gh\k_\j_fy\hajZklZlvk l_fqlh[uhg\ dhg_qghf blh]_ [m^mqb \ khklhygbb djZcg_]h \ha[m`^_gby \u^Ze k_[y Fukeb h ih^h[ghc ©eh\mrd_ª\ukdZau\ZxlkykZfbfIhjnbjb_fb hiylvJZkdhevgbdh\g_\ khklhygbbhij_^_eblv bo kdjulh]h kfukeZ y\eyxlky eb keh\Z Ihjnbjby ebrv [_ah[b^guf ihmq_gb_f beb wlh aeh\_s__ij_^mij_`^_gb_h lhfqlhaZiZ^gyaZoehigmeZkvIjb\h^bfkeh\ZIhjnbjbyk >ZhklZ\vy bgh]hlh]hkih^bgZkh\k_fh^gh]hg_[_jby _]hb g_[_kihdhcghqlh[agZehg dZ`^uc qZk b dZ`^mx fbgmlm beb ih djZcg_c f_j_ ih^haj_\Ze qlh y \k_ agZx \kx ih^gh]hlgmx b ^_ggh b ghsgh ke_`m aZ gbf g_mkuigh _]h klhjh`m b [m^v hg m f_gy khagZl_evgh ih^ \_qguf ih^haj_gb_f b kljZohf lZd \_^v _c[h]m aZdjm`blky ijZ\hk kZf ijb^_l ^Z ih`Zemc _s_ b gZ^_eZ_l q_]hgb[m^v qlh m`_ gZ ^\Z`^u ^\Z ihoh^blv [m^_l lZd kdZaZlvfZl_fZlbq_kdbc\b^[m^_lbf_lv²hghb ijbylghk Ihjnbjbc ^hklb]Z_l p_eb D dhgpm ^hijhkZ JZkdhevgbdh\ khagZ_lky \ kh\_jr_gbb ij_klmie_gby qlh ijZ\^Z ijhy\ey_lky g_ \ dhgdj_lguo keh\Zo Z \h \k_f _]h ih\_^_gbb Hg djbqblk E`_rv gbq_]h g_[m^_l Ah\b ex^_c Lu agZe qlh y [he_g b jZa^jZ`blv f_gy ohl_e ^h [_r_gkl\Z qlh[u y k_[y \u^Ze \hl l\hy p_ev G_l lu nZdlh\ ih^Z\Zc Y \k_ ihgye M l_[y nZdlh\ g_l m l_[y h^gb lhevdh ^jyggu_ gbqlh`gu_ ^h]Z^db aZf_lh\kdb_ Lu agZe fhc oZjZdl_j ^h bkklmie_gby f_gy ^h\_klb ohl_e Z ihlhf b h]hjhrblv \^jm] ihiZfb ^Z ^_imlZlZfbLubo`^_rv"Z"Q_]h`^_rv"=^_"Ih^Z\Zc BlZdIhjnbjbch[eZ^Z_lmgbdZevguf^Zjhfijbl\hjylvkyHgb kZfijbagZ_lky\ wlhf\h \j_fyi_j\h]h`_k\h_]hjZa]h\hjZk JZkdhevgbdh\ufk ²< kZfhf^_e_\ulZdhcijbl\hjsbd"²kijhkbeg_[j_`ghJZkdhevgbdh\ ²: \u^mfZebg_l"Ih^h`^bl_y b\Zkijh\_^m²oZoZoZ Lhevdh [eZ]h^Zjy wlhfm bkdmkkl\m ijbl\hjylvky ih\_^_gb_ Ihjnbjby \ ex[hc fhf_gl khhl\_lkl\m_l gZf_q_gghc bf p_eb ² bah[ebq_gbx ij_klmigbdZ Ijhbaghky ^\mkfuke_ggu_ keh\ZIhjnbjbc^_j`blk_[yijbwlhfkh\_jr_gghijhklh^mrghb [_kobljhklghlZdqlh_keb\ _]hkeh\Zob kd\hablih^haj_gb_ke_^h\Zl_eylhih\_^_gb__]hg_aZdexqZ_l\ k_[_q_]heb[h \gmrZxs_]h hiZk_gby Ihwlhfm JZkdhevgbdh\ gbdh]^Z g_ m\_ j_g ghkyl eb im]Zxsb_ _]h j_iebdb Ihjnbjby kemqZcguc oZ jZdl_j beb hgb \ukdZau\Zxlky ij_^gZf_j_ggh Ihjhc IhjnbjbcdZ`_lky^Z`_\_kvfZhaZ[hq_ggufkhklhygb_fa^hjh\vyJZkdhevgbdh\Zk Bkim] b kZfh_ mqZklb_ Ihjnbjby I_ljh\bqZ [ueb ^h lh]h gZlmjZevgu qlh JZkdhevgbdh\ mfhedb k^bdbfex[hiulkl\hfklZe_]hjZkkfZljb\Zlv² ©G_m`_ebg_m`_eb²f_evdZeh\ g_f²hge`_lb l_i_jv"G_\hafh`ghg_\hafh`ghª² hllZedb\Zehghlk_[ywlmfukevqm\kl\myaZjZg__^hdZdhckl_i_gb[_r_gkl\Zb yjhklbfh`_l hgZ^h\_klb_]hqm\kl\myqlhhl[_r_gkl\Zk mfZkhclbfh`_l Q_eh\_d dhlhjuc mf__l ^h lZdhc kl_i_gb ijbl\hjylvky dhlhjuc gZoh^bl g_ lhevdh gm`gu_keh\ZghmijZ\ey_lb \k_fk\hbfih\_^_gb_fdhgljhebjm_lfbfbdm`_kluaZklZ\eyy bo i_j_^Zlv bf_ggh lh qlh lj_[m_lky \ ^Zgguc fhf_gl ² lZdhc q_eh\_d ih\b^bfhfm iheghklvx ©\oh^bl \ jhevª dhlhjmx hg kZf k_[_ gZf_lbe BlZd _klv \k_ hkgh\Zgby ij_^iheh`blv qlh ke_^h\Zl_ev Ihjnbjbc I_ljh\bq ² ^_fhgkljZlb\gZy ebqghklv K ^jm]hc klhjhgu ih\_^_gb_ Ihjnbjby I_ljh\bqZ ² wlh g_ kh\k_f jhev hg g_ b]jZ_l ^jm]h_ ebph Z ijhklhg_ij_ju\ghijbkihkZ[eb\Z_lk\h_ih\_^_gb_d ^hklb`_gbxihklZ\e_gghcp_ebHg^Z`_ b ijZ\Z g_ bf__l \u^Z\Zlv k_[y aZ ^jm]h]h q_eh\_dZ dhlhjuf hg g_ y\ey_lky hg h[yaZg hklZ\Zlvkyke_^h\Zl_e_fh[y aZg ke_^blv aZ \k_fb gxZgkZfb ih\_^_gby JZkdhevgbdh\Z qlh[u g_f_^e_ggh gZ gbo hlj_Z]bjh\Zlv >ey wlh]h gm`gu [hevrZy gZ[ex^Zl_evghklv b [hevrh_ agZgb_ ex^_c >hklh_\kdbc ohl_e ihdZaZlv j_^dmx ikboheh]bq_kdmx ijhgbpZl_evghklv IhjnbjbyH^gh\j_f_gghibkZl_ev^hdZau\Z_lb k\hxkh[kl\_ggmx\_ebdmxikboheh]bq_kdmx ijhgbpZl_evghklvB \k_`_\hagbdZ_l\hijhkg_^he`_gebih^h[gucIhjnbjbxlbih[eZ^Zlv kihkh[ghklvx\ul_kg_gby_keblhq_]hikboheh]bq_kdblj_[m_lhlg_]hkblmZpbyih^Z_lky^h lZdhc kl_i_gb lZeZgleb\h b \ keh\Zo b \h \k_o \g_rgbo j_Zdpbyo <ur_ fu ihdZaZeb qlh q_eh\_dfh`_lkh\_jr_gghkhagZl_evghl_[_amqZklby\ul_kg_gbyijbl\hjylvkyIjbwlhf hg m`_ aZjZg__ y\kl\_ggh ij_^klZ\ey_l k_[_ hij_^_e_ggmx kblmZpbx dhlhjZy fh`_l \hagbdgmlvb gZf_qZ_l ebgbx ih\_^_gby ?keb kblmZpby^_ckl\bl_evgh kdeZ^u\Z_lky lZd dZd ^Zggh_ ebph k_[_ ij_^klZ\beh lh _]h ieZg hdZau\Z_lky hij_^_eyxsbf b ih\_^_gb_ q_ldh hjb_glbjm_lkyihieZgmGhdhevkdhjhgZf_q_ggh_g_gZklmiZ_llhijbl\hjkl\hm`_g_fh`_l jZa\b\ZlvkyihgZf_q_gghfmimlblZddZdg_h`b^Zggucih\hjhlh[klhyl_evkl\g_[ueaZjZg__ ij_^mkfhlj_g H[eZ^Zy h^ghc ebrv ikboheh]bq_kdhc ijhgbpZl_evghklvx g_\hafh`gh [ukljh hlf_gblvij_`gbcieZgih\_^_gbyb fhf_glZevgh\ujZ[hlZlvgh\ucM bkl_jbq_kdhcebqghklb ih^h[gu_ [uklju_ i_j_dexq_gby \iheg_ \hafh`gu Bkl_jbq_kdh_ \ul_kg_gb_ ^_ckl\m_l fhegb_ghkgh²\ h^ghf]gh\_gb_hghkgbfZ_lg_`_eZl_evgu_©gZf_ldbªb ih\_^_gb_bkl_jbdZ hij_^_ey_lky m`_ gh\hc g_h`b^Zggh \hagbdr_c kblmZpb_c Bkdexqbl_evgZy kihkh[ghklv ijbkihkZ[eb\Zlvky k\hckl\_ggZy ^_fhgkljZlb\guf ebqghklyf b y\ey_lky ke_^kl\b_f lZdbo f]gh\_gguo i_j_dexq_gbb LZdbf h[jZahf fh`gh ml\_j`^Zlv qlh Ihjnbjbc gZjy^m k [hevrhc ikboheh]bq_kdhc ijhgbpZl_evghklvx h[eZ^Z_l _s_ b \ujZ`_ggufb ^_fhgkljZlb\gufbq_jlZfbebqghklbH[jZake_^h\Zl_eyIhjnbjbyI_ljh\bqZfh`_lkem`blv ijbf_jhflh]hqlh^_fhgkljZlb\gZyebqghklvkihkh[gZbkihevah\Zlvijbkmsb__c^Zggu_b \ iheh`bl_evguop_eyol_^ey^hklb`_gbywlbq_kdbp_ggh]hj_amevlZlZb[hbf_gghlZdfh`gh jZkkfZljb\Zlv lm aZ^Zqm dhlhjmx ihklZ\be i_j_^ kh[hc ke_^h\Zl_ev Ihjnbjbc I_ljh\bq K ijbl\hjkl\hf dZd j_amevlZlhf q_ldh hkhagZgghc hjb_glZpbb gZ hij_^_e_ggmx kblmZpbx fu hkh[_gghqZklhklZedb\Z_fky\ deZkkbq_kdhc]j_q_kdhcebl_jZlmj_< lj_oba^hr_^rbo^hgZk ljZ]_^bc KhnhdeZ bf_ggh ijbl\hjkl\h ijb\h^bl d j_rZxs_fm ih\hjhlm kx`_lZ :ygl dhlhjuc\ h^ghbf_gghc^jZf_gZf_j_gkh\_jrblvkZfhm[bckl\hijbl\hjy_lkyklhevbkdmkgh qlh_]hg_aZ^mfu\ZykvhlimkdZxlh^gh]hba^hfm< ©Nbehdl_l_ªkug:obee_kZijbl\hjy_lky ih \he_ H^bkk_y ohly wlh ]em[hdh qm`^h _]h gZlmj_ < ©We_dlj_ª \hkiblZl_ev jZkkdZau\Z_l \ufure_ggmxbklhjbxh fgbfhckf_jlbHj_klZdhlhjhcDebl_fg_kljZ[_ah]h\hjhqgh\_jbl < ©Hj_kl_c_ª WkobeZ eh`v bkoh^bl ba mkl kZfh]h Hj_klZ Ihkdhevdm \ ex[hf kemqZ_ lZdh_ jZau]ju\Zgb_ jheb y\ey_lky kljh]h aZieZgbjh\Zgguf aZjZg__ lh g_evay mkfZljb\Zlv ikboheh]bq_kdhc nZevrb \ lhf qlh ijbl\hjsbdZfb hdZau\Zxlky a^_kv i_jkhgZ`b gbkdhevdh g_ hlebqZxsb_ky bkl_jbqghklvx G_fZemx jhev \ jZa\blbb kh[ulbc b]jZ_l ijbl\hjkl\h ^_ckl\mxsboebpb \ljZ]_^byo?\jbib^ZHkh[_gghkbevgh\i_qZley_llhf_klh]^_Bnb]_gby ©Bnb]_gby\ LZ\jb^_ªk\h_ceh`vx\\h^bl\ aZ[em`^_gb_dhjheyNhZkZk p_evxh[_ki_qblv \hafh`ghklv [_]kl\Z k_[_ b k\h_fm [jZlm Hj_klm M =_l_ Bnb]_gbb g_ m^Z_lky ^h dhgpZ \u^_j`ZlvoZjZdl_jb aZklZ\blvih\_jblv\ k\hxeh`vH[_nhjfuijbl\hjkl\ZaZjZg__kljh]h aZieZgbjh\Zggmx b bkl_jbq_kdmx fh`gh gZ[ex^Zlv iZjZee_evgh \ dhf_^bb ©;jZfZj[Zkª IeZ\lZ<kybgljb]Zihkljh_gZgZeh\dhce`bb gZ rZjeZlZgkdbo \uoh^dZo jZ[Z IZe_kljbh \ gbo b jZkdju\Z_lky _]h bkl_jbq_kdZy kmsghklv ?]h ]hkih^bg ih[_^hghkguc ihdhjbl_ev dj_ihkl_c ij_`^_ \k_]^Z ©kqblZe wlh]h ^_lbgm kmsbf \bk_evgbdhfª gh hg \ dhjg_ baf_gy_l k\h_ fg_gb_ \ lhl fhf_gl dh]^Z IZe_kljbh gZqbgZ_l ^_fhgkljbjh\Zlv ih hlghr_gbx d g_fm gZkd\hav nZevrb\mx ij_^Zgghklv gZ]eh ijbl\hjyykv \_jguf kem]hc GZijhlb\ ^jm]b_ ^_ckl\mxsb_ ebpZ dhf_^bb ^\_ fheh^u_ `_gsbgu ² :djhl_e_clbhg b Fbevnb^biiZ ² ijbl\hjyxlky bkdexqbl_evgh kh]eZkgh ieZgm ij_^ibkZgghfm bf kZfbf IZe_kljbh <hh[s_ kp_gu \kydh]h jh^Z ijbl\hjkl\Z jZau]ju\Zgb_ ih aZjZg__ jZajZ[hlZgghfm ieZgm hohlgh \dexqZxlky \ dhf_^bb lZd dZd dhgljZkl f_`^m wlbfb kp_gZfb b ^_ckl\bl_evghklvx ^Z_l fZl_jbZe^eyfgh`_kl\Zrmlhdb hkljhl I_^Zglbq_kdb_ebqghklb Om^h`_kl\_ggZy ebl_jZlmjZ bah[bemxsZy ^_fhgkljZlb\gufb ebqghklyfb \ lh `_ \j_fy \_kvfZ[_^gZebqghklyfbi_^Zglbq_kdbfb;he__lh]hykh[kl\_gghb g_fh]mijb\_klbdZdhc eb[h om^h`_kl\_gguc h[jZa dhlhjuc fh`gh [ueh [u ih \k_f iZjZf_ljZf h[hagZqblv dZd ebqghklvi_^Zglbq_kdmxbebZgZgdZklbq_kdmxNZdlwlhlgZfhc\a]ey^\_kvfZijbf_qZl_e_g G_m`_eb lZdh]h jh^Z ex^b dhlhju_ \ `bagb \klj_qZxlky qj_a\uqZcgh qZklh klhev fZeh ih^oh^yl ^ey lh]h qlh[u klZlv i_jkhgZ`Zfb ih\_kl_c beb jhfZgh\" Fg_ ^mfZ_lky qlh wlh fZeh\_jhylghHgb fh]eb[u ij_^klZ\blvba\_klguc bgl_j_k ohly[u^ey dhgljZklZ k ex^vfb baf_gqb\ufb g_mklhcqb\ufb b e_]dhfuke_ggufb Dhg_qgh \ om^h`_kl\_gghc ebl_jZlmj_ g_fZeh h[jZah\ ijhklh q_klguo ex^_c gh ihq_fm fu g_ gZoh^bf kj_^b gbo gb h^ghc i_^Zglbq_kdhc ebqghklb" H^gZdh fh`_l [ulv y ihijhklm g_ mq_e mimklbe ba \b^m lhl beb bghcih^h[guch[jZaY dhgkmevlbjh\Zekyk ebpZfbhlebqghagZdhfufbdZdk om^h`_kl\_gghc ebl_jZlmjhc lZd b k ijh[e_fZfb ikboheh]bb b ikbobZljbb hlf_qm qlh \ ihbkdZo gb h^ghc ^jm]hcbajZagh\b^ghkl_cebqghklbfg_g_ijbrehkvijb[_]Zlvd lZdbfdhgkmevlZpbyfb fg_ [uebmdZaZgug_dhlhju_ i_jkhgZ`bk ZgZgdZklbq_kdbfb q_jlZfb h^gZdhbo ljm^gh k iheguf ijZ\hf ijbqbkeblv d i_^Zglbq_kdbf ebqghklyf H[tykg_gb_ lh]h ihq_fm ibkZl_eb g_ hibku\Zxl \ k\hbo ijhba\_^_gbyo ZgZgdZklh\ ke_^m_l hq_\b^gh bkdZlv \ kZfbo ibkZl_eyo <_jhylgh hgb \ kZfbo k_[_ g_ gZoh^yl ih^h[guo hkh[_gghkl_c Z ihlhfm b g_ fh]ml m[_^bl_evgh bo bah[jZablv Fu m`_ \b^_eb qlh i_^Zglbqghklv g_ kihkh[kl\m_l jZa\blbx \hh[jZ`_gbyq_eh\_dmdhlhjucihkljmdlmj_ebqghklbhdZau\Z_lkyi_^Zglhf\b^bfhg_e_]dh klZlv ijh^mdlb\guf ibkZl_e_f K ^jm]hc klhjhgu lsZl_evgh_ bah[jZ`_gb_ ih^jh[ghkl_c mdZau\Z_lbf_gghgZZgZgdZklbq_kdb_q_jluibkZl_ey\ dZq_kl\_ijbf_jZfh`ghijb\_klbohly [u LhfZkZ FZggZ ?]h jhfZg ©;m^^_g[jhdbª b ^jm]b_ ijhba\_^_gby [md\Zevgh i_kljyl ^_lZeyfbHkh[_ggh[jhkZxlky\ ]eZaZ^_lZeb\ jZkkdZa_©Ohaybgb kh[ZdZªH^gZdhgZ kZfhf ^_e_lZdZyhkh[_gghklvl\hjq_kdhcfZg_juibkZl_eygbh q_fih^h[ghfg_k\b^_l_evkl\m_lhgZ ebrv ihdZau\Z_l qlhibkZl_ev bkiulu\Z_ljZ^hklv hibku\Zy ih^f_q_ggh_ _]h \hh[jZ`_gb_f k\h_h[jZab_hdjm`Zxsboij_^f_lh\b qlhhgklj_fblkyhibkZlvbodZdfh`gh[he__h[jZaghb ieZklbqgh lZd dZd bo \b^bl _]h \gmlj_ggbc \ahj Ebl_jZlmjguc mki_o LhfZkZ FZggZ fh`gh kqblZlv[_kkihjgufb wlhh[tykgy_lkyl_fqlh\_sbgZibkZggu_\ lZdhcfZg_j_hq_gv`b\h \hkijbgbfZxlky dhgdj_lgh_ \ha^_ckl\m_l gZ qm\kl\Z q_eh\_dZ kbevg__ q_f Z[kljZdlgh_ I_j_^Zqm ibkZl_e_f ih^jh[ghkl_c fh`gh [ueh [u k\yaZlv k _]h ZgZgdZklbq_kdbfb q_jlZfb ebrv\ lhfkemqZ__kebibkZl_ev\ kbem]eh`ms_]h_]h\gmlj_gg_]h[_kihdhckl\Zg_\ kbeZobo himklblv _keb _fm ijboh^blky \u^_j`b\Zlv \gmlj_ggxx [hjv[m ih ih\h^m lh]h mihfygmlv ^Zggu_ ^_lZeb beb g_l b _keb hg \ dhg_qghf blh]_ qm\kl\m_l k_[y \ugm`^_gguf ² ijhlb\ k\h_c\heb²\dexqblvbo\ ih\_kl\h\Zgb_F_`^ml_fZgZebabjm_fu_kdjmime_agu_hibkZgby g_ ^Zxl gbdZdbo hkgh\Zgbc ^ey lZdbo ij_^iheh`_gbc lZd dZd ibkZl_eb y\gh gZoh^yl m^h\hevkl\b_\ boijb\_^_gbb LhfZkFZgghlebqZ_lky lhgqZcr_cgZ[ex^Zl_evghklvx b _keb hg ijhy\ey_l __ \ dZjlbgghih^jh[guo hibkZgbyo ijbjh^u b [ulZ lh \ wlhf g_l Z[khexlgh gbq_]h gZ\yaqb\h]h >Z]h[_jl Fxee_j iheZ]Z_l qlh Q_oh\ \ k\h_f jZkkdZa_ ©Kf_jlv qbgh\gbdZª hibku\Z_l q_eh\_dZ kljZ^Zxs_]h g_\jhahf gZ\yaqb\uo khklhygbc Km^_[guc bkihegbl_ev Q_j\ydh\ qbogme \ l_Zlj_ h[jua]Z\ ijb wlhf eukbgm kb^_\r_]h i_j_^ gbf \ukhdhihklZ\e_ggh]h ebpZ ]_g_jZeZ Hg fgh]hdjZlgh iulZ_lky ba\bgblvky i_j_^ ]_g_jZehf kgZqZeZlml`_\ l_Zlj_aZl_f\ ijb_fghc]_g_jZeZH^gZdhQ_j\ydh\gbkdhevdhg_khfg_\Z_lky \ lhf qlh _]h ih\_^_gb_hijZ\^Zggh b h[hkgh\Zggh \ lh \j_fy dZdg_\jhlbdb k gZ\yaqb\ufb khklhygbyfb g_baf_ggh fmqZxlky lZdbfb khfg_gbyfb \_^msbfb d oZjZdl_jghc \gmlj_gg_c [hjv[_ :gZgdZklh\ h[uqgh oZjZdl_jbam_l lZdZy hkh[_gghklv ebqghklb dZd jh[hklv <Z`gmx jhev b]jZ_l gZjy^m k jh[hklvx lj_\h`ghklv [hyaeb\hklv DZdh_ ba wlbo dZq_kl\ \Z`g__ ^ey oZjZdl_jbklbdb ebqghklb ZgZgdZklZ kdZaZlv ljm^gh < jZkkdZa_ =hlo_evnZ ©=hkih`Z ihiZ^vyª ]_jhbgyhq_gvjh[dZyihgZlmj_< g__\ex[ey_lky\bdZjbcdhlhjuclZd`_jh[hddZdhgZkZfZ HgZ ]h\hjbl h g_f ©Fhc fm` [ue jh[hd Z y _s_ [hevr_ª I_j\uf ihp_em_f \ex[e_ggu_ h[f_gyebkv\ ^_gvk\Z^v[u@_gm\bdZjbyihklhygghfmqZxlm]jua_gbykh\_klbbaaZlh]hqlh m g__g_l^_l_cohlyhgZ\ wlhfg_\bgh\ZlZIhke_kf_jlbfm`ZhgZ[hblky]jhfZ^gh]h]hjh^Z ;_jgZZ [hevr_\k_]h²mijZ\eyxs_]hkbjhlkdbf^hfhfq_eh\_dZ]jm[h\Zlh]hghjZamfgh]h dhlhjh]h gZagZqbeb __ hi_dmghf Dh]^Z hg aZohl_e gZ\_klblv __ \h \j_fy [he_agb hgZ [ueZ gZklhevdh gZim]ZgZ qlh ijbl\hjbeZkv kiys_c Iha`_ hgZ hq_gv kh`Ze__l h[ wlhc ©b]j_ª b m]jua_gby kh\_klb gZqbgZxl fmqblv __ kgh\Z G_khfg_ggh qlh \^h\Z \bdZjby k wlbfb ihklhyggufbdklZlbkh\_jr_gghg_h[hkgh\Zggufbm]jua_gbyfbkh\_klb\ujbkh\u\Z_lkydZd ZgZgdZklbq_kdZy ebqghklv h^gZdh ^Zevg_crb_ ijb agZdb ZgZgdZklbqghklb m wlhc `_gsbgu hlkmlkl\mxl \ __ `bagb g_ ijhbkoh^bl gbq_]h qlh fh]eh [u ih^^_j`Zlv ^Zggmx \_jkbx < h[s_f `_ =hlo_evn jbkm_l __ kdhj__ lj_\h`ghc [hyaeb\hc q_f ZgZgdZklbq_kdhc Qbgh\gbdZ :dZdby :dZdb_\bqZ ]_jhy jZkkdZaZ ©Rbg_evª fu \gZqZe_ kdehggu kqblZlv g_ lhevdh i_^Zglbq_kdhcebqghklvxgh^Z`_ly`_eufZgZgdZklhf=h]hev]h\hjblh g_fk <jy^eb]^_fh`gh[uehgZclbq_eh\_dZdhlhjuclZd`be[u\ k\h_c^he`ghklb JZ[hlZ_]haZdexqZeZkv\ i_j_ibku\Zgbb[mfZ]QZklhhg[jZeboi_j_ibku\Zlvb gZ^hfk AZf_lb\rb qlh `_em^hd gZqbgZe imqblvky \klZ\Ze baaZ klheZ \ugbfZe [Zghqdm k q_jgbeZfbb i_j_ibku\Ze[mfZ]bijbg_k_ggu_gZ^hf :dZdbc :dZdb_\bq gZklhevdh ly`_e gZ ih^t_f qlh g_ fh`_l ijbkihkh[blvky gb d dZdhc ^jm]hcjZ[hl_k H^bg ^bj_dlhj [m^mqb ^h[juc q_eh\_d b `_eZy \hagZ]jZ^blv _]h aZ ^he]mx kem`[m ijbdZaZe^Zlv_fmqlhgb[m^vih\Z`g__q_fh[udgh\_ggh_i_j_ibku\Zgb_bf_gghba]hlh\h]h m`_ ^_eZ [ueh \_^_gh _fm k^_eZlv dZdh_lh hlghr_gb_ \ ^jm]h_ ijbkmlkl\_ggh_ f_klh ^_eh khklhyeh lhevdh \ lhf qlh[u i_j_f_gblv aZ]eZ\guc lblme ^Z i_j_f_gblv dh_]^_ ]eZ]heu ba i_j\h]h ebpZ \ lj_lv_ Wlh aZ^Zeh _fm lZdmx jZ[hlm qlh hg \kihl_e kh\_jr_ggh l_j eh[ b gZdhg_pkdZaZe©G_lemqr_^Zcl_y i_j_ibrmqlhgb[m^vª Ihkdhevdm:dZdbc:dZdb_\bqg_[ue^_[be_gZ ihjmq_ggZy_fmgZijh[mjZ[hlZhlgx^vg_ lj_[h\ZeZ dZdbolh bkdexqbl_evguo kihkh[ghkl_c lh ij_iylkl\b_f ^ey i_j_dexq_gby gZ gh\mx jZ[hlm fh]eb kem`blv lhevdh _]h khfg_gb_ b [hyagv \ khklhygbb eb hg k g_x kijZ\blvky"Djhf_^he]Z^ey:dZdby:dZdb_\bqZg_kms_kl\m_lgbq_]h²gbm^h\hevkl\bcgb jZa\e_q_gbck >Z`_ lh]^Z dh]^Z \k_ klj_fblky jZa\e_qvky :dZdbc :dZdb_\bq g_ ij_^Z\Zeky gbdZdhfm jZa\e_q_gbxGbdlhg_fh]kdZaZlvqlh[udh]^Zgb[m^v\b^_e_]hgZdZdhfgb[m^v\_q_j_ DZdb ke_^h\Zehh`b^ZlvhlZgZgdZklZ_fm[uehhq_gvg_eh\dhkhagZ\Zlvqlhhgkhk\h_c gh\hcrbg_evxhqmlbeky\ p_glj_\gbfZgbyk² <k_\ lm`_fbgmlm\u[_`Zeb\ r\_cpZjkdmxkfhlj_lvgh\mxrbg_ev:dZdby:dZdb_\bqZ GZqZeb iha^jZ\eylv _]h ijb\_lkl\h\Zlv lZd qlh lhl kgZqZeZ lhevdh meu[Zeky Z ihlhf k^_eZehkv _fm ^Z`_ klu^gh Dh]^Z `_ \k_ ijbklmib\ d g_fm klZeb ]h\hjblv qlh gm`gh kijukgmlv gh\mx rbg_ev b qlh ih djZcg_c f_j_ hg ^he`_g aZ^Zlv bf \k_f \_q_j :dZdbc :dZdb_\bqihl_jyekykh\_jr_gghg_agZedZd_fm[ulvqlhlZdh_hl\_qZlvb dZdhl]h\hjblvky ?fm \k_ `_ ijboh^blky hlijZ\blvky gZ \_q_jbgdm Klhy \ ijboh`_c hdjm`_gguc khljm^gbdZfbhgkgh\Zijboh^bl\ aZf_rZl_evkl\hk :dZdbc :dZdb_\bq ohly [ueh hlqZklb b kdhgnmabeky gh [m^mqb q_eh\_dhf qbklhk_j^_qgufg_fh]g_ihjZ^h\Zlvky\b^ydZd\k_iho\Zebebrbg_ev QblZl_ev kdehg_g kqblZlv qlh jh[hklv :dZdby :dZdb_\bqZ ZgZgdZklbq_kdh]h ijhbkoh`^_gby \_^v lhl gbdh]^Z g_ agZ_l ^Z`_ dZdh]h jh^Z ih\_^_gb_ hdZ`_lky mf_klguf \ lhfbebbghfkemqZ_?fmg_khfg_gghijbkmsZb lj_\h`ghklv[hyaeb\hklvDh]^Zhgh[jZlbeky d h^ghfm \ukhdhihklZ\e_gghfm ebpm k ijhkv[hc ihkh^_ckl\h\Zlv \ gZoh`^_gbb ihobs_gghc rbg_ebb lhl]jm[hhl\_lbe_fm]_jhcjZkkdZaZkh\k_fjZkl_jyekyhlkfms_gbyb kljZoZb qmlv g_miZe\ h[fhjhdk :dZdbc :dZdb_\bq lZd b h[f_j ihrZlgmeky aZljykky \k_f l_ehf b gbdZd g_ fh] klhylv _keb [u g_ ih^[_`Zeb lml `_ klhjh`Z ih^^_j`Zlv _]h hg [u re_igmeky gZ ihe _]h \ug_keb ihqlb[_a^\b`_gby Ihegh_nbabq_kdh_bag_fh`_gb_b bklhs_gb_gZihq\_kljZoZhibku\Z_lky\ f_^bpbgkdhc ebl_jZlmj_ hgh\hafh`ghimklv^Z`_hibkZgb_=h]hey g_ ebr_ghg_dhlhjh]h ij_m\_ebq_gby <_qgh\klj_\h`_gghc[hyaeb\hcgZlmjhc:dZdby:dZdb_\bqZfh`ghh[tykgblvlZd`_b lhqlh hgg_baf_gghy\eyeky©fbr_gvxª^eykhljm^gbdh\k Fheh^u_qbgh\gbdbih^kf_b\Zebkvb hkljbebgZ^gbf\hkdhevdho\ZlZehdZgp_eyjkdh]h hkljhmfby jZkkdZau\Zeb lml `_ ij_^ gbf jZagu_ khklZ\e_ggu_ gZ g_]h bklhjbb ijh _]h ohaycdm k_fb^_kylbe_lgxx klZjmom ]h\hjbeb qlh hgZ [v_l _]h kijZrb\Zeb dh]^Z [m^_l bo k\Z^v[ZkuiZebgZ]heh\m_fm[mfZ`dbgZau\Zywlhkg_]hfGhgbh^gh]hkeh\Zg_hl\_qZegZ wlh:dZdbc:dZdb_\bqdZd [m^lh gbdh]h b g_ [uehi_j_^ gbf wlh g_bf_eh^Z`_ \ebygby gZ aZgylby_]hkj_^b\k_owlbo^hdmdhgg_k^_eZegbh^ghchrb[db\ ibkvf_ ?keb\^mfZlvkylh\k_ijb\_^_ggu_pblZlu^Zxlhkgh\ZgbyiheZ]Zlvqlh=h]hev\ h[jZa_ k\h_]h jh[dh]h b bkiheg_ggh]h khagZgby ^he]Z ]_jhy \ kZfhf ^_e_ gZjbkh\Ze dhehjblgh]h ZgZgdZklZ < ^_ckl\bl_evghklb h^gZdh lZdh_ \i_qZle_gb_ ebrv \g_rg__ Pblbjmy y himklbe ijh^he`_gb_ [hevrbgkl\Z ijb\_^_gguo njZ]f_glh\ Z lmllh b ]h\hjblky h ijbqbgZo h[tykgyxsbo g_h[udgh\_ggh_ jZ[hq__ j\_gb_ :dZdby :dZdb_\bqZ Ijbqbgu wlb jZkdju\Zxl gZf kblmZpbx k \gmlj_gg_c klhjhgu ihdZau\Zy qlh y\eyehkv hkgh\hc h[jZaZ `bagb b ihklmidh\:dZdby:dZdb_\bqZB dh]^ZfumagZ_fbklbggh_iheh`_gb_\_s_clhm[_`^Z_fky qlh \ ebqghklb ]_jhy ZgZgdZklbq_kdh_ gZqZeh ihqlb kh\k_f g_ ij_^klZ\e_gh Ijh^he`_gb_ i_j\hc`_ba\ur_ijb\_^_gguopblZl]^_]h\hjblkyh lhfqlh:dZdbc:dZdb_\bq©`be\ k\h_c ^he`ghklbªa\mqbllZdk FZehkdZaZlvhgkem`bej_\ghklghg_lhgkem`bek ex[h\vxLZf\ wlhfi_j_ibku\Zgbb _fm \b^_eky dZdhclh k\hc jZaghh[jZaguc b ijbylguc fbj GZkeZ`^_gb_ \ujZ`Zehkv gZ ebp_ _]hg_dhlhju_[md\um g_]h[uebnZ\hjblu^hdhlhjuo_kebhg^h[bjZekylh[uekZfg_k\hc b ihkf_b\Zeky b ih^fb]b\Ze b ihfh]Ze ]m[Zfb lZd qlh \ ebp_ _]h dZaZehkv fh`gh [ueh ijhq_klv\kydmx[md\mdhlhjmx\u\h^behi_jh_]h Hlkx^Zfh`ghk^_eZlv\u\h^qlhklhev[hevrh_j\_gb_\uau\Zehkvm :dZdby:dZdb_\bqZ gbq_f bguf dZd jZ^hklvx ljm^Z L_f kZfuf a^_kv m`_ g_ ijboh^blky ]h\hjblv h klZjZl_evghklb kdjmime_aghklb ZgZgdZklZ m dhlhjh]h j_rZxsbf fhf_glhf y\ ey_lky g_ jZ^hklv ljm^Z Z kljZo i_j_^ \hafh`gufb hrb[dZfb \ jZ[hl_ PblZlZ \ dhlhjhc b^_l j_qv h lhf qlh :dZdbc :dZdb_\bq jZ[hlZe ^ey k\h_]h ^_iZjlZf_glZ b ^hfZ ijh^he`Z_lky ke_^m xsbfbkeh\Zfbk b i_j_ibku\Ze [mfZ]b ijbg_k_ggu_ gZ ^hf ?keb `_ lZdbo g_ kemqZehkv hg kgbfZe gZjhqgh ^ey kh[kl\_ggh]h m^h\hevkl\by dhibx ^ey k_[y hkh[_ggh _keb [mfZ]Z [ueZ aZf_qZl_evgZg_ihdjZkhl_keh]ZghihZ^j_kmd dZdhfmgb[m^vgh\hfm\Z`ghfmebpm Ke_^h\Zl_evgh :dZdbc :dZdb_\bq qZkl_gvdh aZgbfZeky dhibjh\Zgb_f [mfZ] ijhklh lZd [_aki_pbZevghcp_eb^eykh[kl\_ggh]hm^h\hevkl\by;m^vhgebqghklvxi_^Zglbq_kdhclhhg b gZ lj_[m_fh_ ih jZ[hl_ i_j_ibku\Zgb_ ljZlbe [u g_ihf_jgh fgh]h \j_f_gb lZd dZd ihklhygghijh\_jyeb i_j_ijh\_jye[uk_[yZ \k_ebk^_eZghkh]eZkghijZ\beZf">eyq_]h`_ lZdhfmq_eh\_dm[jZlvgZk_[yg_gm`gucljm^dhlhjuc\ kbem_]hhkh[hckljmdlmjuebqghklb [ue[uhiylvlZdbk\yaZgk ihklhyggufljm^h_fdbfkZfhdhgljhe_f"Ih^q_jdgm\qlh:dZdbc :dZdb_\bqg_iha\heyek_[_gbdZdbojZa\e_q_gbc=h]hevaZf_qZ_l^Ze__k GZibkZ\rbkv \keZklv hg eh`beky kiZlv meu[Zykv aZjZg__ ijb fukeb h aZ\ljZrg_f ^g_ qlhlh[h]ihre_li_j_ibku\ZlvaZ\ljZ IbkZl_ev klZjZ_lky dZd fh`gh yjq_ \u^_eblv fukev qlh i_ j_ibku\Zgb_ [ueh ^ey _]h ]_jhygZkeZ`^_gb_fZ g_ijhklufljm^hfb m`_l_f[he__g_[uehhghk\yaZghk gZ\yaqb\hc b^__cGZdhg_pijhlb\ZgZgdZklbq_kdh]hlhedh\Zgbywlh]hh[jZaZk\b^_l_evkl\m_lb lhqlh\ [ulm:dZdbc:dZdb_\bqf_g__\k_]h[uei_^Zglhfk² Hgg_^mfZe\h\k_h k\h_fieZlv_\bpfmg^bjm g_]h[ueg_a_e_gucZ dZdh]hlhju`_\Zlh fmqgh]hp\_lZ<hjhlgbqhdgZ g_f [ue ma_gvdbc gba_gvdbc lZd qlh r_y _]h g_kfhljygZ lh qlhg_[ueZ^ebggZ\uoh^yba\hjhlgbdZdZaZeZkvg_h[udgh\_ggh^ebgghxdZdm l_o]bikh\uo dhl_gdh\ [helZxsbo ]heh\Zfb dhlhjuo ghkyl gZ ]heh\Zo p_eufb ^_kyldZfb jmkkdb_ bghkljZgpuB \k_]^Zqlhgb[m^v^ZijbebiZehd _]h\bpfmg^bjmbebk_gpZdmkhq_dbebdZdZy gb[m^v gblhqdZ d lhfm `_ hg bf_e hkh[_ggh_ bkdmkkl\h oh^y ih mebp_ ihki_\Zlv ih^ hdgh bf_ggh \ lh kZfh_ \j_fy dh]^Z bag_]h \u[jZku\Zeb \kydmx ^jygv b hllh]h \_qgh mghkbe gZ k\h_creyi_Zj[magu_b ^uggu_dhjdbb lhfmih^h[guc\a^hj LZdbf h[jZahf :dZdbc :dZdb_\bq oZjZdl_jbam_lky =h]he_f ihijhklm dZd q_eh\_d g_hijylguc g_qbklhiehlguc Z ihke_^g__ dZd fu agZ_f gbq_]h h[s_]h g_ bf__l k ZgZgdZklbq_kdbfb q_jlZfb ebqghklb ;hevrhc bgl_j_k gZ fhc \a]ey^ ij_^klZ\ey_l lh qlh =h]hev bah[jZ`Z_l q_eh\_dZ dhlhjuc \g_rg_ \uihegy_l k\hx jZ[hlm dZd ZgZgdZkl gh \gmlj_gg_gbdZdbo ZgZgdZklbq_kdbo q_jlg_ bf__l < wlhfy mkfZljb\Zx ih^l\_j`^_gb_ fh_c fukeb qlh ibkZl_eyf ljm^gh bah[jZ`Zlv ZgZgdZklh\ ihkdhevdm hgb \ kZfbo k_[_ gbdh]^Z g_ gZoh^yl khhl\_lkl\mxsbo q_jl ebqghklb Y iheZ]Zx qlh =h]hev bkoh^be ba nZdlbq_kdbo gZ[ex^_gbc gZ^ dZdbflh ZgZgdZklhf dh]^Z jbkh\Ze \g_rgbc h[jZa :dZdby :dZdb_\bqZ Qj_a\uqZcghieZklbqghihdZaZgibkZl_e_fq_eh\_djh[dbcg_eh\dbc[_kihfhsgucm dhlhjh]h \ky `bagv k\h^blky d i_j_ibku\Zgbx [mfZ] b gb gZ dZdb_ ^jm]b_ \i_qZle_gby g_ hklZ_lky \j_f_gb H^gZdh \ ijhp_kk_ hibkZgby d wlhc \g_rg_c oZjZdl_jbklbd_ ^h[Z\bebkv dZdb_lh ijb\oh^ysb_ l\hjq_kdb_ fhlb\u dhlhju_ \ ikbobd_ ibkZl_ey gZreb [he__ ^_ckl\_gguc kbevguchldebdq_fZgZgdZklbq_kdb_fhlb\u< dhgp_dhgph\ihemqbekyiZjZ^hdklZddZdwlb \lhjbqgu_ fhlb\u \hh[s_ g_kh\f_klbfu kh kljmdlmjhc ebqghklb ZgZgdZklZ Khfgbl_evguf ij_^klZ\ey_lky lZd`_ b lh kljZ^Z_l eb gZ\yaqb\uf g_\jhahf ]eZ\guc ]_jhc ih\_klb ©Iml_r_kl\b_\hckdh\h]hk\ys_ggbdZRf_evpe_\hNe_pª@ZgZIheyK m\_j_gghklvxfh`gh ml\_j`^Zlv ebrv h^gh \ wlhf ijhba\_^_gbb hibku\Z_lky ]jhfZ^gh_ dhebq_kl\h ihklmidh\ hq_gv [ebadh k\yaZgguo k gZ\yaqb\ufb khklhygbyfb Hgb k ^_lkl\Z ijbkmsb \hckdh\hfm k\ys_ggbdmk,, Fh_\hh[jZ`_gb_m`_\ ^_lkl\_qZklh\]hgyehf_gy\ kljZoLZdgZijbf_jdh]^Z\ ojZf_ k\ys_ggbd h[jZsZeky d fheqZ kemrZxsbf _]h \_jmxsbf k ijhih\_^vx f_gy qZklh lZd b ih^fu\ZeZ^bdZyfukev©: qlh_kebluk_cqZklZd\hlijyfhkb^y\ dj_ke_kj_^bijboh`Zg aZhj_rv\h\_kv]hehk©=hkih^bg k\ys_ggbdb ylh`_lmlkb`mª b fukev ij_\jZsZeZkv \ ^h lh]hajbfuc`]mqbch[jZaqlhfg_ijboh^behkvk m`Zkhf[_`ZlvbaojZfZQlhlhkijZrb\Zeh \gmljbf_gyfh`ghebij_^klZ\blvk_[_g_qlh[he__^vy\hevkdh_q_f_kebgZqg_rv\ fhf_gl ijbgylbyk\yluo^Zjh\dhsmgkl\_gghb ]emfeb\hohohlZlv"B lhlqZk`_y gZqZe[hjhlvkyk wlbf gZ\Z`^_gb_f\p_ib\rbfky\ f_gydZdZ^kdZykh[ZdZghdZdy kh[Zdmwlmg_mgbfZedZdgb ]gZe __ hl k_[y ² hgZ g_ moh^beZ Z y \k_ [hevr_ l_jye kbeu dh]^Z y ^hr_e ^h ZelZjy b ^h kdZf__qdb lh m`_ k lhqghklvx agZe qlh \hl\hl jZkohohqmkv imklv ^Z`_ \gmljb f_gy [m^_l ieZqb kdj_`_lam[h\guc >eyk\ys_ggbdZgZ\yaqb\u_b^_bj_eb]bhagh]hkh^_j`Zgbydhg_qgh\_kvfZoZjZdl_jgu gh gb ikboheh]bq_kdhfm gb ikbobZljbq_kdhfm hiulm g_ khhl\_lkl\m_l i_j_oh^ gZ\yaqb\uo hiZk_gbc\ dhgdj_lgucihklmihdZ f_`^ml_fbf_gghwlhhibku\Z_lky@ZghfIhe_f>_eh\ lhfqlhj_amevlZl[_amfguohiZk_gbcRf_evpe_g_aZf_^ebekdZaZlvkyb[hhg^_ckl\bl_evgh klZekf_ylvky\ kZfuchl\_lkl\_ggucfhf_glk B \hl dh]^Z fu ihdehgbebkv \lhjhc jZa y gZqZe mofueylvky b dhjqblv jh`b dZd kmsZy h[_avygZ Fhc gZiZjgbd [mj]hfbklj ijhr_ilZe fg_ gZ moh dh]^Z fu h[oh^beb ZelZjv ©Ihfbemc[h]y qlhlhg_ihcfmdlh\uebphijbgy\r__^moh\guckZgbebrml]hjhoh\uc"< \ZklhqghkZlZgZ\k_ebekyªB hg[uekh\_jr_gghijZ\ >Ze__ \ jZkkdZa_ ke_^m_l fgh`_kl\h ihklmidh\ \ dhlhjuo kdZau\Z_lky qj_af_jgZy hklhjh`ghklv Rf_evpe_ G_khfg_ggh a^_kv fh`gh mkfZljb\Zlv gZ\yaqb\u_ ^_ckl\by l_f [he___kebmq_klvihwlbq_kdh_ij_m\_ebq_gb_LZd\hckdh\hck\ys_ggbd\kx^m\hablk kh[hc ]bikh\u_ ih\yadb gZ kemqZc i_j_ehfZ jmdb beb gh]b lZd dZd dheykdZ ih ^hjh]_ fh`_l hijhdbgmlvkyb \hafh`ghih\j_`^_gb_dhg_qghkl_cDh]^Z_]h[j_xlhg^_j`bljmdbgZ]hlh\_ ^ey gZg_k_gby m^ZjZ gZ kemqZc _keb aZf_lbl ih^hajbl_evgh_ ^\b`_gb_ pbjxevgbdZ Hg kZf kdhgkljmbjh\Zeahglbdfhegb_hl\h^dhlhjuc kihkh[_g hl\_klb fhegbx _keb _c \a^mfZ_lky \ g_]h m^ZjblvKl_i_gv[hyaeb\hklbb ih^hajbl_evghklb\hckdh\h]h k\ys_ggbdZhkh[_ggh yjdh ihdZaZgZ\ hibkZgbbi_j\hcghqbdhlhjmxhgijh\h^bl\ ]hklbgbp_k G_kfhljygZ[hevrh_dhebq_kl\h\uiblh]h\bgZhkfhljbl_evghklvg_hklZ\beZf_gyi_j_^ l_fdZde_qvkiZlvy m^hklh\_jbekyqlhih^djh\Zlvxgbdh]hg_l^Ze__y \\bglbek\hcghqghc rmjmi \ ^\_jv Z aZl_f \a]jhfha^be i_j_^ g_x h^gh gZ^ ^jm]bf g_kdhevdh dj_k_e [jxdb b [ZrfZdbyeh`Zkvg_kgbfZeqlh[u\ ex[hcfhf_glqm\kl\h\Zlvk_[ygZ]hlh\_ih^gylvkyGh wlh_s_g_\k_ld fg_g_h[oh^bfh[uehij_^ijbgylvg_dhlhju_ij_^hklhjh`ghklbihqZklb khfgZf[mebq_kdh]h oh`^_gby \h kg_ Fg_ m`_ ba^Z\gZ dZaZehkv g_ihgylguf dZd wlh fgh]b_ ex^b eh`Zlky kiZlv b aZkuiZxl kh\_jr_ggh g_ ^mfZy h lhf qlh hgb fh]ml hdZaZlvky khfgZf[meZfb \ i_j\u_ `_ fbgmlu kgZ hgb fh]ml \ah[jZlvky gZ djmlmx djurm Z hllm^Z ihiZklv \ lZdh_ f_klh ba dhlhjh]h \u[jZlvky fh`gh lhevdh ijhehfb\ q_j_i : qlh kdZaZlv h ^jm]hf\ZjbZgl_hiZkghklb"Ij_^iheh`bfqlhq_eh\_dk g_aZiylgZgghcj_imlZpb_c\hckdh\hc k\ys_ggbdaZkgm\\ kh[kl\_gghcihkl_ebijhkuiZ_lkygZr_edh\uoijhklugyo\ kiZevg_kZfhc agZlghc^Zfu\ ]hjh^_dhlhjZyfh]eZ[ukhklZ\blvkqZklv__]h`bagbFh`_lebhgi_j_`blv wlhl ihahj" Dh]^Z y ghqmx ^hfZ y \ijhq_f \h kg_ ]hjZa^h f_gvr_ jbkdmx Y dj_idh i_j_\yau\Zx [hevrhciZe_p ijZ\hc gh]b rgmjhf \ g_kdhevdhZjrbg ^ebgu dhlhjuc \lhjuf dhgphf ijbdj_ie_g d ijZ\hc dbklb jmdb fh_c kmijm]b lZdbf h[jZahf kmijm]Z ij_^klZ\ey_l kh[hc dZd [u `b\mx ma^_qdm dhlhjZy \ gm`guc fhf_gl m^_j`bl f_gy ijblygm\ aZ rgmjhd h[jZlgh d ihkl_eb Gh \ ]hklbgbp_ y [ue \ugm`^_g d kh`Ze_gbx h]jZgbqblvky l_f qlh g_kdhevdhjZa^ey[_ahiZkghklbh[fhlZergmjhdaZdj_ie_ggucgZ iZevp_ e_\hc gh]b \hdjm] gh`dbdjh\Zlbh^gZdhwlhf_gygbdZdg_fh]ehkiZklbhl\hafh`gh]h\lhj`_gby[Zg^blh\: \hh[s_^he`_gkdZaZlvqlhkhg^ey\kydh]hq_eh\_dZy\ey_lkyqj_a\uqZcghhiZkghcrlmdhcl dex[hcjbkdm_l\_^v\hkg_m g_]hfh`_l©mkgmlvªh^gZbadhg_qghkl_cjmdZbebgh]ZB \ f_^bpbg_ ba\_klgu kemqZb dh]^Z lZdmx dhg_qghklv gZ ke_^mxs__ mljh ijboh^behkv Zfimlbjh\ZlvY \k_]^Z\_exqlh[uf_gyghqvxihqZs_[m^beb²dZd[uqlhgb[m^vm f_gyg_ ©mkgmehª G_\jhlbdbk gZ\yaqb\ufbij_^klZ\e_gbyfbkihkh[gubkiulu\Zlvk\h_h[jZagu_kljZobgh \k_ `_ g_ \ lZdhc f_j_ dZd wlh bah[jZ`Z_l @Zg Ihev <hh[s_ ]jhl_kdgZy ijbjh^Z b^_c b ih klmidh\ wlbo ebp qZklh [he__ gZihfbgZ_l rbahnj_gbq_kdh_ ih\_ ^_gb_ q_f gZ\yaqb\u_ ij_^klZ\e_gby >Z`_ mqblu\Zy g_baf_g gmx ^hex ihwlbq_kdh]h ij_m\_ebq_gby fu \k_ `_ ijboh^bf d \u\h^m qlh hibku\Z_fu_ nZdlu g_ k\yaZgu k gZ\yaqb\hklvx Rf_evpe_ dZd b q_oh\kdbc qbgh\gbd g_ \b^bl qlh h[t_dlb\gh _]h ihklmidb djZcg_ g_e_iu Ihjhc m gZk kha^Z_lky\i_qZle_gb_qlhRf_evpe_bkdj_gg_m[_`^_g\ [hevrhcp_gghklbk\h_]hmfZb k\hbo \u^mfhd Fu g_ bf__f hkgh\Zgbc kqblZlv _]h hiZk_gby b kljZggu_ f_ju ij_^hklhjh`ghklb j_amevlZlhf\gmlj_gg_c[hjv[ughjfuk gZ\yaqb\hcb^__cdm^Zkdhj__fukdehggum\b^_lv\ gbo ihklmidb q_eh\_dZ gZqbg_ggh]h hiZk_gbyfb b ^h ]jhl_kdghklb ljmkeb\h]h Lhevdh ijb lZdhc ljZdlh\d_ h[jZaZ \hckdh\h]h k\ys_ggbdZ _]h fh`gh kqblZlv rmlgbdhf b aZijZ\kdbf hkljydhf ?keb [u hg gZ kZfhf ^_e_ [ue ih^\_j`_g kljZoZf h\eZ^_\Zxsbf ZgZgdZklhf \ l_ fhf_glu dh]^Z hg [hj_lky k gZ\yaqb\hc b^__c lh \k_ bah[jZ`Z_fh_ ibkZl_e_f hdZaZehkv [u kh\k_f g_ kf_rguf B hiylv fu ijboh^bf d fukeb qlh b @Zg Ihev a^_kv ij_^klZ\be [_kkihjgh]bi_j[hebabjh\Zgguch[jZaZgZgdZklZghij_^klZ\beqbklh\g_rg_\gmlj_gg_`_m _]h]_jhygbq_]hh[s_]hk ZgZgdZklZfbg_l< h^ghfbah[jZah\om^h`_kl\_gghcebl_jZlmjuy \k_ `_ mkfZljb\Zx ihklmidb ZgZgdZklZ ohly ikboheh]bq_kdb hgb \hafh`gh g_ kh\k_f lbibqguJ_qvb^_lh jZkkdZa_©<_q_jgbcjZa]h\hj\ <_gk_g_ª:evnj_^Z^_<bgvbOZjZdl_jgh a^_kv kZfh_ gZa\Zgb_ i_j\hc ]eZ\u ©Khe^Zl j_^qZcr_c ^h[jhkh\_klghklbª H q_eh\_d_ d dhlhjhfmhlg_k_guwlbkeh\ZfuqblZ_f Jy^hf k gZfbg_ih^Ze_dm hl ^_j_\ygguo \hjhl dj_ihklb fu m\b^_eb klZjh]h \ZofbkljZ ebph dhlhjh]h \ujZ`Zeh [_kihdhckl\h b haZ[hq_gghklv hg lh hlibjZe lh aZibjZe ^\_jv g_[hevrhc[ZrgbdhlhjZykem`beZihjhoh\ufkdeZ^hfb Zjk_gZehf^eydj_ihklghcZjlbee_jbb b [ueZgZiheg_gZihjhoh\ufb[hqdZfbhjm`b_fb kgZjy`_ggufb[h_ijbiZkZfb HaZ[hq_gghklvhibku\Z_fZy^_<bgvbghkbly\ghZgZgdZklbq_kdbcoZjZdl_j < jmdZohg^_j`Zeljb^ebgguokibkdZb \gbfZl_evghbamqZejy^uh[hagZq_gguogZgbo pbnjfukijhkbeb_]hihq_fmhgklheviha^gh_s_gZf_kl_jZ[hluHghl\_lbeihqlbl_evghb kihdhcgh dZd ih^h[Z_l klZjhfm khe^Zlm qlh gZ ke_^mxsbc ^_gv \ qZkh\ mljZ ij_^klhbl ]_g_jZevguc hkfhlj dj_ihklb Z hg hl\_qZ_l aZ aZiZku ihjhoZ ihwlhfm hg b ijh\_jy_l wlb aZiZku \hl m`_ \_jhylgh \ c jZa qlh[u g_ ihemqblv aZf_qZgby aZ oZeZlghklv IjZ\^Z hg ohl_e bkihevah\Zlv ^ey wlh]h ohlv kdm^gu_ hklZldb ^g_\gh]h k\_lZ \ k\yab kh kljh]bfb ij_^ibkZgbyfb aZij_sZxsbfb \oh^ \ [Zrgx g_lhevdh k nZd_ehf gh ^Z`_ k ihlZcguf nhgZj_fd g_kqZklvxm g_]hg_o\Zlbeh\j_f_gbqlh[uho\Zlblvijh\_jdhc\k_h[t_dlu_s_ g_kdhevdh kgZjy^h\ hklZebkv g_hkfhlj_ggufb ohjhrh [u _keb [u hg bf_e \hafh`ghklv ijhgbdgmlv \ [Zrgx ihke_ gZklmie_gby l_fghlu K g_dhlhjuf g_l_ji_gb_f hg ih]ey^_e \ klhjhgm ]j_gZ^_jZ dhlhjuc klhye gZ dZjZme_ m ^\_j_c [Zrgb \hg hglh b \hkij_iylkl\m_l aZfurey_fhc ^hihegbl_evghc k\_jd_ Khh[sb\ gZf \k_ wlh \Zofbklj himklbeky gZ dhe_gb ihkfhlj_lv g_ aZ[bebkv eb ih^ ^\_jb hklZldb ihjhoZ Hg [hyeky qlh ihjho \ahj\_lky ijb khijbdhkgh\_gbbkhrihjZfbbebf_lZeebq_kdbfbgZ[hcdZfbgZkZih]Zohnbp_jh\©<ijhq_f g_wlhf_gy[hevr_\k_]h[_kihdhbl²ijhbag_khg\klZ\Zy²Z fhbkibkdbªB hgk lj_\h]hc kdhevagmeihgbf\a]ey^hf < wlbokeh\Zoij_\hkoh^ghihdZaZgu[he_ag_ggu_khfg_gbyZgZgdZklZdhlhjucgbdh]^Zgb \ q_fg_m\_j_gihklhygghijh\_jy_lb i_j_ijh\_jy_lk\hb^_ckl\byb \k_`_gbdh]^Zg_fh`_l hdhgqZl_evgh mkihdhblvky ?]h lj_\h`Zl hiZkghklb dhlhju_ h[t_dlb\gh \hh[s_ g_ kms_kl\mxl<Zofbkljkdhj__\k_]hkZfagZ_lqlhfukevh \aju\_hklZldh\ihjhoZih^^\_jvx g_e_iZgh\k_`_hghimkdZ_lkygZdhe_gbb ijh\_jy_lHq_\b^ghqlhwlhk\_jo^h[jhkh\_klguc ih ijbjh^_ q_eh\_d kh\_jr_ggh \u[bl ba dhe_b ij_^klhysbf ]_g_jZevguf hkfhljhf KljZo qlh ijb hkfhlj_ \kdjh_lky dZdZyeb[h _]h hrb[dZ ij_\jZsZ_lky \ fmqbl_evgmx gZ\yaqb\mx b^_x LjZ]baf jZkkdZaZ aZdexqZ_lky \ lhf qlh \Zofbklj bf_ggh k\hbfb qj_af_jgufb ij_^hklhjh`ghklyfb \uau\Z_l dZlZkljhnm dhlhjZy klhbl _fm `bagb GZ\yaqb\h_ ij_^klZ\e_gb_qlhhgg_\k__s_ijh\_jbeg_^Z_l_fmihdhy <u \_^v \b^_eb ]hkih^bg e_cl_gZgl qlh y dZd khe^Zl [hevrh_ agZq_gb_ ijb^Zx ^h[jhkh\_klghfm \uiheg_gbx ^he]Z Y [u \_jgh mf_j kh klu^Z _keb [u aZ\ljZ ijb hkfhlj_ h[gZjm`beb g_^hklZqm ohlv h^ghc dZjlmrb B ij_^klZ\vl_ fg_ dZ`_lky qlh \h \j_fy ihke_^gbo mijZ`g_gbc ih klj_ev[_ m f_gy klZsbeb [hqdm ihjhom ^ey i_ohlu F_gy lZd b ih^fu\Z_lihclbihkfhlj_lvb yk^_eZe[uwlh_keb[u\oh^\ ihf_s_gb_k bklhqgbdhfk\_lZ\ jmdZog_[ueaZij_s_g AZij_lZ \oh^blv kh k\_lhf \ ihjhoh\mx [Zrgx ^h[jhkh\_klguc kem`ZdZ gZjmrblv g_ fh`_lGhkhh[jZ`_gbylhedZxsb__]hgZbghcimlvkbevg__lZddZdhgbm`_ij_\jZlbebkvba aZ g_ij_ju\gh ]eh`msbo _]h khfg_gbc \ gZ\yaqb\mx fukev Q_j_a ^\Z qZkZ ihke_ lh]h dZd ijha\mqZebkeh\Z\ZofbkljZihjhoh\hckdeZ^k ]jhohlhf\ae_lZ_lgZ\ha^mo Ih\b^bfhfmg_kqZklguc\k_`_g_fh]\hkijhlb\blvkyg_h^hebfhcihlj_[ghklb_s_jZa ihkfhlj_lv gZ k\hb ihjhoh\u_ [hqdb b ihkqblZlv k\hb ]jZgZlu B \hl qlhlh ih^dh\dZ dZf_r_dijhklhg_hklhjh`gh_^\b`_gb_²\ h^bgfb]\k_\hkieZf_gbeh H[t_dlb\ghhlgx^vg_bkdexq_ghqlhq_eh\_dbaaZgZ\yaqb\h]hij_^klZ\e_gbykh\_jrZ_l g_qlhlZdh_qlhfh`_l ih\e_qvaZkh[hc[hevrmxhiZkghklv<hafh`gh \Zofbkljb m[_^beky i_j_^kf_jlvxqlh\k_ihjhoh\u_[hqdbgZoh^ylky\ p_ehklbb khojZgghklbghaZieZlbeaZwlh ^hjh]hcp_ghcBlZdih\_^_gb_ZgZgdZklZhibkZgha^_kv\_kvfZm[_^bl_evghqlh`_dZkZ_lky ebqghklb ZgZgdZklZ lh __ ^_ <bgvb nZdlbq_kdb g_ ihdZaZe F_`^m hibkZgbyfb gZ\yaqb\uo g_\jhlbq_kdbo^_ckl\bc\ gZqZe_b \dhgp_ih\_klbij_^klZ\e_gZ\ky[bh]jZnby\ZofbkljZWlh bklhjby q_klgh]h kem`Zdb ihegh]h khagZgby ^he]Z gh gbdh]^Z \ ijhrehf g_ \uy\ey\r_]h kdehgghkl_c lbibqgh]h ZgZgdZklZ ihwlhfm g_l hkgh\Zgbc kqblZlv _]h i_^Zglbq_kdhc ebqghklvx <_jhylgh ^_ <bgvb hlgx^v b g_ klZ\be i_j_^ kh[hc p_ev bah[jZablv Zdp_glmbjh\Zggmxebqghklv?]hl\hjq_kdbcaZfuk_eaZdexqZeky\ lhfqlh[uihdZaZlvlbikhe ^ZlZ^eydhlhjh]h bkiheg_gb_Zjf_ckdh]h^he]Z y\ey_lky \Z`g_crbf `bag_ggufijbgpbihf GZ\yaqb\u_ jZa^mfvy ]_jhy bah[jZ`Z_l Lheklhc \ jhfZg_ ©<hkdj_k_gb_ª < hibkZgbb ij_[u\ZgbyG_oex^h\Z\ IZgh\__klvlZdb_kljhdbk ² >Z ^Z ² ^mfZe hg ² >_eh dhlhjh_ ^_eZ_lky gZr_c `bagvx \k_ ^_eh \_kv kfuke wlh]h ^_eZ g_ihgyl_g b g_ fh`_l [ulv ihgyl_g fg_ aZq_f [ueb l_lmrdb aZq_f Gbdhe_gvdZ Bjl_g_\mf_j²Z y`b\m"AZq_f[ueZDZlxrZ"B fh_kmfZkr_kl\b_"AZq_fwlZ\hcgZ"B \ky fhyihke_^mxsZy[_kimlgZy`bagv"<k_wlhihgylvihgylv\k_^_ehOhaybgZg_\ fh_c\eZklb Gh^_eZlv_]h\hexgZibkZggmx\ fh_ckh\_klb²wlh\ fh_c\eZklbb wlhy agZxg_khfg_ggh B dh]^Z^_eZxg_khfg_gghkihdh_g B \^jm]bof_klZojhfZgZfuklZedb\Z_fkyk ZgZgdZklbq_kdhckZfhhp_gdhcG_oex^h\Zhg qZklhh[\bgy_lk_[y\ g_iheghp_gghklbih^ehklbgbahklb]gmkghklbgZau\Zyk_[yg_]h^y_fb [_kijbgpbiguf q_eh\_dhf ;u\Z_l qlh ZgZgdZklu h[t_dlb\gh hdZaZ\rb_ky ih\bggufb \ ly`_ehfkl_q_gbbh[klhyl_evkl\^hoh^ylh[\bgyyk_[y^hkZfh[bq_\ZgbyGhdZdebqghklvb G_oex^h\g_ZgZgdZklIhke_lh]hdZdhgijhr_e©klZ^bxhqbs_gbyªlZdhgZ\hkijbgbfZ_lky Lhekluf hg b^_l d k\h_c p_eb [_a hkh[uo khfg_gbc b jZa^mfbc NZgZlbaf k dhlhjuf G_oex^h\ij_^Z_lkyb^__ihdZygbykdhj__gZihfbgZ_liZjZghbq_kdh_khklhygb_ghhiylvlZdb ke_^m_l aZf_lblv qlh b^_b jZa\b\Zxsb_ky m iZjZghcyevguo ebqghkl_c Z[khexlgh ebr_gu Zevljmbklbq_kdh]h oZjZdl_jZ Fh`gh lZd`_ ijb\_klb ijbf_j ©Fgbfh]h [hevgh]hª Fhev_jZ b[h kj_^b bihohg^jbdh\ d dhlhjuf hlghkblky b ]_jhc Fhev_jZ \klj_qZ_lky fgh]h i_^Zglbq_kdbo ebqghkl_c Hgb ihegu lj_\h]b b hiZk_gbc ih ih\h^m fgh]bo kh[ulbc hdjm`Zxs_c `bagb HiZk_gby fh]ml hlghkblvky b d bo kh[kl\_gghfm a^hjh\vx ^Z`_ _keb ijbqbgij_^iheZ]Zlvm k_[ygZebqb_aZ[he_\Zgbym gbog_lKms_kl\_gghqlh\ k\h_cdhf_^bb Fhev_jihdZau\Z_l h^gb lhevdh bihohg^jbq_kdb_ q_jlu l _ bah[jZ`Z_l q_eh\_dZ `b\ms_]h bkdexqbl_evghaZ[hlhck k\h_fa^hjh\v_Hlghr_gb__]hd hklZevguf`bag_ggufkh[ulbyfb kblmZpbyf hklZ_lky \g_ ihey aj_gby qblZl_ey AZf_lbf qlh bihohg^jbq_kdh_ jZa\blb_ fh`_l ijhy\blvky g_ lhevdh m i_^Zglbq_kdbo ebqghkl_c hkh[_ggh dh]^Z dZdb_gb[m^v g_e_iu_ f_jhijbylby ij_^ibkZggu_ \jZqZfb dZd wlh bf__l f_klh m Fhev_jZ ihklhyggh khkj_^hlhqb\Zxl \gbfZgb_ q_eh\_dZ gZ kh[kl\_gghf a^hjh\v_ GZah\_f gZdhg_p =hlnjb^Z D_ee_jZ dhlhjuc lZd`_ ]h\hjbl h gZ\yaqb\uo kbfilhfZo g_\jhlbq_kdh]h oZjZdl_jZ \ jhfZg_ ©A_e_guc=_gjboªk LZd \ l_q_gb_ g_dhlhjh]h \j_f_gb y g_fZeh kljZ^Ze hl lh]h qlh m f_gy ihy\behkv [he_ag_ggh_`_eZgb_^Z\Zlv[h]m]jm[u_ijha\bsZb ^Z`_jm]Zlv_]h[jZggufbkeh\Zfb\jh^_ l_o dZdb_ y keuoZe gZ mebp_ H[uqgh \k_ gZqbgZehkv k lh]h qlh f_gy ho\Zlu\Zeh dZdh_lh ijbylgh_aZ^hjgh_qm\kl\hhlqZygghklbkf_ehklbihke_^he]hc[hjv[uygZdhg_pih^^Z\Zeky bkdmr_gbxbhlq_leb\hkhagZ\Zyqlhkh\_jrZx[h]homevkl\hh^gbf^mohfijhbaghkbedZdh_ gb[m^v ba l_o aZij_lguo keh\ ihke_ q_]h kjZam `_ ijbgbfZeky mfheylv [h]Z qlh[u hg g_ ijbgbfZe wlh]h \k_jv_a b ijhkbe m g_]h ijhs_gby gh f_gy lZd b ih^fu\Zeh jbkdgmlv _s_ jZahdb yijh^_eu\Ze\k_k gZqZeZb kgh\Zkhdjmr_gghdZyeky\ kh^_ygghf²^hl_oihjihdZ g_ ijhoh^beh fh_ kljZggh_ \ha[m`^_gb_ QZs_ \k_]h wlh fmqbl_evgh_ khklhygb_ gZklmiZeh i_j_^kghf\ijhq_fihke_wlh]hy g_bkiulu\Ze[_kihdhckl\Zbebg_^h\hevkl\Zkh[hc HibkZggu_ gZ\yaqb\u_ ij_^klZ\e_gby ijhy\b\rb_ky \ dhsmgkl\_gguo omebl_evguo keh\Zob \©kljZgghf\ha[m`^_gbbª\hagbdebih\k_c\b^bfhklbgZk_dkmZevghcihq\_Hgb kjh^gb l_f gZ\yaqb\uf y\e_gbyf dhlhju_ \klj_qZ_f bgh]^Z m dZlhebq_kdbo k\ys_gghkem`bl_e_c^ZxsbodZdba\_klghh[_l[_a[jZqbyG_kfhljygZkljZoi_j_^]j_ohf hgb g_ fh]ml m^_j`Zlvky hl`_eZgbyhkuiZlv[h]Z beb BbkmkZ OjbklZ g_ijbebqghc [jZgvx b ^Z`_ hl lh]h qlh[u ij_^klZ\blv bo \ kdZ[j_aguo kblmZpbyo KljZo ihy\eyxsbcky ijb wlhf ghkbl [_amkeh\gh gZ\yaqb\uc oZjZdl_j gh kZfb fukeb \uau\Zxlky g_hkms_kl\e_gguf k_dkmZevguf \e_q_gb_f Z g_ y\eyxlky gZ\yaqb\ufb Bf_ggh lZd ke_^m_l ljZdlh\Zlv [h]homevkl\h]_jhy\ ©A_e_ghf=_gjbo_ª< i_jbh^dh]^Zijhbkoh^bebhibku\Z_fu_kp_guhg [ue\ hljhq_kdhf\hajZkl_k_dkmZevgh_gZqZehfh]ehm`_^Z\Zlvh k_[_agZlvohlywjhlbq_kdh_ \e_q_gb_ b hklZ\Zehkv m wlh]h xghrb g_m^h\e_l\hj_gguf <Z`gh h^gZdh hlf_lblv qlh =hlnjb^ D_ee_j lZd`_ f_gvr_ \k_]h klZ\be i_j_^ kh[hc p_ev bah[jZablv \ ebp_ k\h_]h ]_jhy g_\jhlbq_kdmxebqghklvkljZ^Zxsmxdhfie_dkhfgZ\yaqb\uob^_c AZklj_\Zxsb_ebqghklb DZaZehkv [u h[gZjm`blv iZjZghcyevgu_ ebqghklb \ om^h`_kl\_gghc ebl_jZlmj_ kh\k_f g_ljm^gh>hklZlhqghgZa\Zlvohly[uih\_klv©FboZwevDhevoZZkª=_gjboZnhgDe_cklZB \k_ `_ a^_kv kdhj__ bah[jZ`_gh iZjZghbq_kdh_ jZa\blb_ q_f dhgklblmpbhgZevghiZjZghcyevgZy ebqghklv H q_jlZo hl ijbjh^u ijbkmsbo DhevoZZkm \ ih\_klb kdZaZgh ebrv g_kdhevdh \\h^guokeh\k G_h[udgh\_gguc wlhl q_eh\_d ^h ljb^pZlh]h ]h^Z k\h_c `bagb ih ijZ\m keue h[jZaphf ^hklhcgh]h]jZ`^ZgbgZ;eba^_j_\gbb ihgug_ghkys_c_]hbfym g_]h[ueZfuaZb`b\ygZ g_c hg dhjfbeky k\hbf ijhfukehf >_l_c dhlhjuo _fm ih^ZjbeZ `_gZ hg jZklbe \ kljZo_ [h`v_f ^ey ljm^hex[b\hc b q_klghc `bagb Kj_^b khk_^_c g_ [ueh gb h^gh]h dlh [u g_ bkiulZe gZ k_[_ _]h [eZ]h^_l_evghc kijZ\_^eb\hklb Dhjhq_ ex^b [u [eZ]hkeh\eyeb _]h iZ fylv_keb[uhgg_i_j_]gmeiZedm\ h^ghcbak\hbo^h[jh^_l_e_cb[hqm\kl\hkijZ\_^eb\hklb k^_eZehbag_]hjZa[hcgbdZb m[bcpm Dhg_qghg_ijboh^blkyhljbpZlvqlh DhevoZZk \ oh^_ [hjv[u[hjhekyg_ lhevdh aZ k\hb ijZ\Z gh ^h[b\Zeky kijZ\_^eb\hklb b ^ey ^jm]bo ex^_c H^gZdh ijbkms__ _fm qm\kl\h kijZ\_^eb\hklbg_evaygZa\ZlvaZjh^ur_fiZlheh]bq_kdh]hjZa\blby< [hjv[_k j_Zevgufbeb \hh[jZ`Z_fuf \jZ]hf m DhevoZZkZ jZa^m\Zxlky g_khfg_ggh w]hbklbq_kdb_ qm\kl\Z hg klj_fblky \hklhj`_kl\h\Zlv gZ^ ijhlb\gbdhf \h qlh [u lh gb klZeh hlhfklblv h[b^qbdm IZjZghbdb \hh[s_ [hjxlky aZ h[t_dlb\gmx kijZ\_^eb\hklv ebrv \h \lhjmx hq_j_^v qlh hlghkblky b d FboZwex DhevoZZkm b[h hg ^_ckl\m_l ih[m`^Z_fuc [hevr_ khh[jZ`_gbyfb f_klbq_fkijZ\_^eb\hklbKf_jlv`_guihke_ba^_\Zl_evkl\dhlhjufhgZ[ueZih^\_j]gmlZ hdZaZeZkv j_rZxsbf lheqdhf d ^_ckl\bx :\lhj ijyfh gZau\Z_l \_sb k\hbfb bf_gZfb jZkp_gb\Zyih\_^_gb_DhevoZZkZbf_gghdZdf_klvk Dh]^Z fh]beZ [ueZ aZkuiZgZ a_fe_c b m\_gqZgZ dj_klhf dh]^Z jZahrebkv ]hklb kt_oZ\rb_kygZihohjhguhg_s_jZamiZegZdhe_gbi_j_^__gZ\_dbhimkl_eufeh`_fb aZl_f ijbklmibed ^_em\haf_a^by B ^_ckl\bl_evgh \k_ qlh aZ wlbf ke_^m_l [ueh \ ih^ebgghf kfuke_ keh\Z f_klvx Z g_ [hjv[hcaZh[t_dlb\gmxkijZ\_^eb\hklvk DhevoZZk m kZfuo ^\_j_c ij_]jZ^be imlv ihiZ\r_fmky _fm gZ\klj_qm xgd_jm =Zgkm nhg LjhgdZr\ujgme_]h\ m]helZdqlhfha][juagmegZdZf_gguciheb kijhkbe\ lh\j_fydZd dhgxobjZkijZ\eyebkvk ^jm]bfbjupZjyfbko\Zlb\rbfbky[uehaZhjm`b_]^_xgd_j<_gp_ev nhg LjhgdZ H[_kiZfyl_\rb_ ex^b gbq_]h g_ fh]eb _fm hl\_lblv lh]^Z hg m^Zjhf gh]b jZkiZogme^\_jbihdh_\\_^msbo\ [hdh\u_ijbkljhcdbaZfdZh[_`Ze\k_h[rbjgh_kljh_gb_ ghgbdh]hg_gZr_ebbaju]Zyijhdeylbyklj_f]eZ\[jhkbeky\h^\hjqlh[uihklZ\blvkljZ`m m \k_o\uoh^h\F_`l_fh]hgvk ^\hjh\uokljh_gbci_j_dbgmekygZaZfhd^uf\Zebebahdhg \a^ufZykvd g_[mb \lh\j_fydZdRl_jb[Zev^k lj_fyjZkl_jyggufbdhgxoZfbo\ZlZebqlh gb ihiZ^y b [jhkZeb ijyfh ih^ gh]b k\hbf ehrZ^yf O_ja_ ba hdhg dZgp_eyjbb k ebdmxsbf ohohlhf\u[jZku\ZeljmiumijZ\bl_eydZkl_eygZboqZ^b ^hfhqZ^p_\ <k_hibkZggh_a^_kv²ke_^kl\b_g_gZ\bklbl_f[he__qlhkf_jl_evgu_m^ZjuihjZ`Zxl ex^_c g_ bf_xsbo ijyfh]h hlghr_gby d kf_jlb `_gu DhevoZZkZ hgb \bgh\Zlu lhevdh \ iehohf h[jZs_gbb k ehrZ^vfb DhevoZZkZ ^Z b lh g_ \k_ \_^v DhevoZZk m[b\Z_l ^Z`_ fZe_gvdbo ^_l_c BlZd _^\Z eb [ueh [u ijZ\bevguf ij_\haghkblv ^h g_[_k qm\kl\h kijZ\_^eb\hklb ydh[u klhev fhsgh ij_^klZ\e_ggh_ \ DhevoZZk_ H^gZdh hibkZgb_ _]h iZjZghcb hlgx^v g_ kfZau\Z_lky gZijhlb\ hgh ijbh[j_lZ_l [hevrmx ikboheh]bq_kdmx q_ldhklv b[h iZjZghbq_kdh_ jZa\blb_ qZklh \hagbdZ_l gZ ihq\_ ebqghc mya\e_gghklb b khijh\h`^Z_lkykdehgghklvxd \jZ`^_b g_gZ\bklb?keb`_]h\hjblvh ]_jh_om^h`_kl\_ggh]h ijhba\_^_gbyh[eZ^Zxs_fbklbggufqm\kl\hfkijZ\_^eb\hklbb g_y\eyxsbfkyiZjZghbdhf lhlZdh\ufgZgZr\a]ey^y\ey_lkyDZjeFhhjba^jZfuRbee_jZ©JZa[hcgbdbªIjZ\^hex[b_ dZd wfhpbhgZevgh_ ijhy\e_gb_ Zevljmbklbq_kdh]h lbiZ gbdZd g_ fh`_l khijh\h`^Zlv iZjZghbq_kdh_ jZa\blb_ Ihwlhfm ©fbaZgljhiª lZd hkljhmfgh bah[jZ`Z_fuc Fhev_jhf \ h^ghbf_gghcdhf_^bbkh^_j`bl\ k_[_\gmlj_gg__ijhlb\hj_qb_<h\k_ok\hboihklmidZohg nZgZlbq_gdZdfh]ml[ulvh^gbebrviZjZghbdbghhg[hj_lkyaZZevljmbklbq_kdb_p_ebq_]h iZjZghbdb g_ ^_eZxl gbdh]^Z < i_j\hc `_ kp_g_ ^jZfu :evp_kl ihju\Z_l hlghr_gby k [ebadbf ^jm]hf baaZ qj_af_jghc ©\hkiblZgghklbª l _ g_bkdj_gghklb ihke_^g_]h k ² NBEBGL Gh _keb dlhgb[m^v gZk \klj_lbl lZd k_j^_qgh ² Fu l_f `_ aZieZlblv ^he`gu _fm dhg_qgh ?]h jZ^mrbx ih f_j_ kbe \ hl\_l AZ eZkdm ² eZkdm ^Zlv b aZ ijb\_l ² ijb\_l :evp_kl G_l y g_ \ughrm ij_aj_gghc lhc f_lh^u Dhlhjhc ^_j`Zlky jZ[u lheiu b fh^u B g_gZ\b`my djb\eygvy[helmgh\Rmlh\gZius_gguoqlhg_`Ze_xlkeh\H[tylbckm_lguob ihrehkl_c ex[_aguo B \kydbo ]jhfdbo njZa ijbylgh[_kihe_aguo >jm] ^jm]Z ij_\ahclb \ mqlb\hklbki_rZl=^_q_klgucq_eh\_dg_ jZa[_jm ]^_ nZl DZdZy ` ihevaZ \ lhf dh]^Z \Zf ©^jm] k_j^_qgucª Deyg_lky \ \_jghklb \ ex[\b b \ ^jm`[_ \_qghc JZko\Zeb\Z_l \Zk Z kZf [_`blihlhfB lZd`_ghkblkykh\kydbfgZ]e_phfGZlhj`bs_g_k_lex[h\vb m\Z`_gv_>ey [eZ]hjh^guo ^mr _klv \ wlhf mgb`_gv_ B ^Z`_ ]hj^_pZf ² dZdZy ` wlh q_klv ² Kh \k_c \k_e_gghx ^_eblv ih[jZlkdb e_klv Ebrv ij_^ihql_gb_ \ gZk qm\kl\Z mkm]m[bl B lhl dlh ex[bl\k_olhlgbdh]hg_ex[blGhjZa\Zfih^mr_ihjhdbgZrbo^g_c<uq_jlf_gy\havfb g_bafhboex^_c IjZ\^hex[b_^ey:evp_klZklZgh\blky\Z`g_crbf`bag_ggufijbgpbihfGZ[ex^ZydZd hg gZ ijhly`_gbb \k_]h ^_ckl\by iv_ku h`_klhq_ggh ijb^_j`b\Z_lky wlh]h ijbgpbiZ fu kdehggu gZa\Zlv :evp_klZ nZgZlbdhf ijZ\^u H^gZdh ijZ\^hex[b_ hkgh\Zgh gZ qm\kl\_ h[s_kl\_ggh]h ^he]Z q_eh\_dZ \ kbem q_]h hgh b klbfmebjm_lky ZgZgdZklbq_kdbf Z g_ iZjZghbq_kdbf jZa\blb_f Fu g_j_^dh klZedb\Z_fky m ZgZgdZklbq_kdbo ebqghkl_c k l_f qlh hgb [hevrb_ ijZ\^hex[u gh wlZ q_jlZ h[tykgy_lky bo hiZk_gb_f kh\_jrblv hrb[dm hkgh\Zggmx gZ e`b Z hlgx^v g_ bo Z]j_kkb\guf lj_[h\Zgb_f ijZ\^b\hklb dhlhjh_ fu gZ[ex^Z_f m :evp_klZ NZgZlbdb \k_]^Z y\eyxlky iZjZghbdZfb hgb gbdh]^Z g_ [u\Zxl ZgZgdZklZfb \ kbem q_]h ijZ\^hex[b_ g_ \klj_qZ_lky \h \aZbfhk\yab k nZgZlbafhf AZlh nZgZlbaf hlebqgh khq_lZ_lky k ly`_ehc j_\ghklvx :evp_klZ gZ ihq\_ dhlhjhc jZa\b\Z_lky g_gZ\bklvex[h\v ² kljZklgZy ijb\yaZgghklv b h^gh\j_f_ggh h`_klhq_ggZy g_gZ\bklv d K_ebf_g_K_ebf_gZ\hkdebpZ_l\ hl\_l:evp_klmk² :evp_kl G_ihklb`bfZ kljZklv [_amfgZy fhy Gbdlh km^Zjugy lZd g_ ex[be dZd y K_ebf_gZGbdlh<ugh\mxbah[j_ebf_lh^mK_j^blvkyb djbqZlvex[\bk\h_c\ m]h^mMij_db kkhju[jZgv²\hliuedbc\ZrwdklZaIh^h[gmxex[h\vy \b`m\ i_j\ucjZa < wlhfieZg_fuh[gZjm`b\Z_fm :evp_klZlbibqgh_iZjZghbq_kdh_jZa\blb_?s_[he__ lsZl_evgh wlh jZa\blb_ \uibkZgh m = nhg De_cklZ \ _]h ©FboZwe_ DhevoZZk_ª < i_j\mx hq_j_^v fu magZ_f ih^jh[gh h ^_lZeyo hgb dhg_qgh kihkh[gu \ua\Zlv ]g_\ \hafms_gb_ q_eh\_dZ gh g_ [he__ AZl_f gZf ihdZau\Zxl dZd DhevoZZk \gh\v b \gh\v bf_y xjb^bq_kdb \_kdb_ hkgh\Zgby iulZ_lky ^h[blvky kijZ\_^eb\hklb gh _]h hlh\kx^m ijh]hgyxl \k_ \j_fy hkf_b\Zxl Wlh bf_ggh lhl imlv dhlhjuc \_^_l d iZjZghbq_kdbf Znn_dlZf Ihklhyggu_ dhe_[Zgby l_ kZfu_ ©jZkdZqb\Zgby fZylgbdZª f_`^m gZ^_`^hc `_eZgb_f ^h[blvky p_eb b ]hjvdbf jZahqZjh\Zgb_f kihkh[kl\mxl g_ij_ju\ghfm \a\bgqb\Zgbx qm\kl\ Fh`_l eb lZdZy wkdZeZpbyijhbahclbm ebqghklbihgZlmj_g_ijbf_lghcdZdh\hcy\eyekyDhevoZZkb dlhfm`_ ^hklbqvlZdbofZkrlZ[h\"K lhqdbaj_gbyikbobZljbbfu^he`guhl\_lblvgZ^Zgguc\hijhk hljbpZl_evgh f_`^m l_f m De_cklZ fu gb]^_ gZ gZoh^bf ih^l\_j`^_gbc lh]h qlh FboZwev DhevoZZk [ue ebqghklvx iZjZghcyevghc Ijb[ebabl_evgh lh `_ fh`gh kdZaZlv h r_dkibjh\kdhf Hl_eeh k _]h j_\ghklvx Q_eh\_d \ dhlhjhf klhev yjdh ij_^klZ\e_gh iZjZghbq_kdh_ gZqZeh dZd \ Hl_eeh ^he`_g m`_ hl ijbjh^u [ulv qm\kl\bl_evguf b ih^hajbl_evgufGhebrvihke_lh]hdZdHl_eehm[be>_a^_fhgmbakZfuoihke_^gbokeh\_]h \ ljZ]_^bbfumagZ_fqlhhg©ex[be[_af_jub [eZ]hjZamfvy[ueg_e_]dhj_\gb\gh\ [mj_ qm\kl\ \iZe \ [_r_gkl\hª LZdb_ keh\Z gZ\h^yl ^Z`_ gZ fukev h lhf qlh i_j_^ gZfb kdhj__ \ha[m^bfZy wibe_ilhb^gZy q_f aZklj_\ZxsZy ebqghklv <ijhq_f ke_^m_l mihfygmlv qlh m Hl_eeh kblmZlb\gu_ ij_^ihkuedb l _ \g_rgb_ h[klhyl_evkl\Z [_amkeh\gh kihkh[kl\h\Zeb bf_ggh iZjZghbq_kdhfm jZa\blbx < wlhf hlghr_gbb R_dkibj ^Ze g_ lhevdh \ om^h`_kl\_gghf gh b \ ikboheh]bq_kdhf Zki_dl_ [e_klysbc ZgZeba ljZ]bq_kdbo kh[ulbc JZnbgbjh\Zgghc b]jhc Y]h m^Z_lky ih^\_klb Hl_eeh d g_mklhcqb\hfm rZldhfm khklhygbx d ihklhyggufdhe_[Zgbyff_`^mgZ^_`^hcb kljZohfdhlhju_klhevhiZkguijbiZjZghbq_kdhf jZa\blbb²b g_lhevdhih^\_klbghb \k_\j_fyih^^_j`b\Zlv_]h\ wlhfkhklhygbbKgZqZeZ Y]h lhevdh ^_eZ_l gZf_db hldZau\Z_lky kdZaZlv [hevr_ b l_f kZfuf \uau\Z_l gZijy`_gb_ Dh]^ZHl_eeh\k_[eb`_d lhfmqlh[u\hkiueZlv[_r_ghcj_\ghklvx\ukdZau\ZgbyY]hfh]ml m`_ k^_eZlvky [he__ hij_^_e_ggufb lZd dZd hg g_ [hblky [hevr_ \klj_lblv j_adbc hlihj Lhgdhkhh[jZamyk\hxlZdlbdmk khklhygb_fHl_eehdhlhjucihkl_i_gghkhaj_\Z_l^ey\_ju\ ex[mx eh`v Y]h gZqbgZ_l jZa^m\Zlv k\hb dh\Zjgu_ h[\bg_gby : dh]^Z Hl_eeh m`_ hdhgqZl_evgh kjZ`_g j_\ghklvx lh de_\_lgbd fh`_l imklblv \ oh^ ly`_eu_ hjm^by l _ jZkibkZlvHl_eeh\ ih^jh[ghklyodZjlbgmbglbfgh]hk[eb`_gby>_a^_fhgub DZkkbhI_j\uc jZa]h\hjY]hk Hl_eehgZqbgZ_lkylZdk² Y]hKdZ`bl_]_g_jZeagZeDZkkbhh \Zr_fm\e_q_gv_ >h\Zr_ck\Z^v[u Hl_eehAgZe Dhg_qghagZe: qlhlZdh_" Y]hLZd Khh[jZ`_gvyOhqmkebqblvbo\hlb \k_ Hl_eeh<hbfyg_[Z]h\hjbykg_c Y]hOhly[ \uk_j^p_fg_jmdZfbk`Zeb G_[m^mg_fh]mb g_ohqm Hl_eeh LZd\hldZdY ]hJ_\ghklbhkl_j_]Zcl_kvA_e_gh]eZahc\_^vfu]_g_jZeDhlhjZykf__lkygZ^^h[uq_c Y]h : ]eZ\gh_ g_ gZ^h m]em[eylvky < \hijhku wlb ^Zevr_ ]_g_jZe <k_ ij_^hklZ\vl_ \j_f_gb<aukdZgvyY kDZkkbhihdZ[ug_kgbfZeHgij_\hkoh^guchnbp_jdhg_qghGhy _]h ^_j`Ze[u\ klhjhg_Qlh[gZ[ex^ZlvaZgbfgZjZkklhygv_Ke_^bl_dZdijhy\bl]hkih`ZK\h_ mqZklv_\ km^v[Zoe_cl_gZglZ: \aZdexq_gv_^he`_gih\lhjblvY ihgZlmj_kdehg_gd eh`guf kljZoZfGZ\_jghy o\ZlZxq_j_adjZcG_^mfZcl_h >_a^_fhg_iehoh Dh]^Z j_\ghklv Hl_eeh ^hklb]Z_l Zih]_y \ kbem gZ]h\hjh\ b dhag_c ij_^Zl_ey Y]h ijhbkoh^bl^bZeh]k Hl_eehHg\kemoh g_c[helZe"Y]h;helZeHl_eehQlh"Qlh"Y]hLhhlq_]h\k_]^Zhg hlj_q_lkyHl_eehGh\k_lZdbY]hHg]h\hjbe Hl_eehBlZd"Y]hQlhhge_`ZeHl_eehK d_f"K g_c"Y]h>ZG_lM\hevl_ <_jhylgh \h \k_c om^h`_kl\_gghc ebl_jZlmj_ g_ gZc^_lky ^jm]h]h ijhba\_^_gby ]^_ k lZdbf fZkl_jkl\hf [ueh [u hibkZ gh l_q_gb_ iZjZghbq_kdh]h jZa\blby dZd m R_dkibjZ \ ljZ]_^bb ©Hl_eehª Y]h m^Z_lky ^_j`Zlv Hl_eeh \k_ \j_fy \ g_m\_j_ggh klb ©^habjh\Zlvª de_\_lm lZdbf h[jZahf qlh Hl_eeh ihklhyggh dhe_[e_lky f_`^m `_klhdbf ih^haj_gb_f b ^h\_jb_fd >_a^_fhg_?keb[uY]hgZqZekjZamk ]jm[hcde_\_luHl_eehlml`_k \hafms_gb_f hl\_j] [u gZ]h\hju hg gbq_fm [u g_ ih\_ jbe Gh Y]h rZ] aZ rZ]hf ijh\hpbjm_l \k_ [he__ ]em[hdb_Znn_dluHl_eehihdZgZdhg_plhlg_gZqbgZ_lijbgbfZlvaZqbklmxfhg_lmkZfmx \mev]Zjgmx eh`v qlh gZ[ex^Z_lky m [j_^h\uo [hevguo F_`^m l_f ihdZ ^_eh g_ ^hreh ^h ^Zgghc klZ^bb Hl_eeh l_jaZxl g_hibkm_fu_ fmq_gby b \ua\Zgu hgb gb q_f bguf dZd i_jfZg_glghcg_m\_j_gghklvxk Hl_eehDZdBaf_gblvfg_Y]h>h\hevgh]_g_jZeHklZ\vl_wlbfukebHl_eehK]bgv Bkq_agbLu`bagvfhx\ aZkl_ghdh[jZlbeImkdZcf_gyb [hevr_[ h[fZgmeb>Zy [g_agZe <iheg_ \hafh`gh qlh \ ebqghklb Hl_eehg_ klhev m` yjdh ij_^klZ\e_gu iZjZghbq_kdb_ l_g^_gpbbkZfbihk_[_g_evayg_mqblu\Zlvlh]hk dZdbfbahsj_ggufdh\Zjkl\hf_]hlhedZeb gZimlviZjZghbq_kdh]hjZa\blbyDjhf_lh]hhg[uefZ\jhfb _]hl_jaZebhiZk_gbyfh`_leb [ulv ijhqghc ex[h\v d fZ\jm m lZdhc lhgdhc g_`ghc ^_\mrdb dZd >_a^_fhgZ Ih^h[gmx ljZ]_^bx i_j_`b\Z_l kmelZg HjhkfZg \ iv_k_ ©AZbjZª <hevl_jZ Ih^haj_gby h g_\_jghklb AZbju \k_ [he__ k]msZxlky gh kmelZg g_ ^Z_l bf [_kih\hjhlgh h\eZ^_lv kh[hc ² \gh\v b \gh\v ex[h\v b ^h\_jb_ ih[_`^Zxl khfg_gby Wlh ijb\h^bl d i_j_f_gghc b]j_ wfhpbc HjhkfZg \_^_lhlqZyggmx [hjv[m k kh[hc Ebrv dh]^Zihy\ey_lky ihke_^g__ ©bklbggh_ª lZd hg ^mfZ_l ^hdZaZl_evkl\h HjhkfZg kehfe_g b j_rZ_l hlhfklblv baf_ggbp_ Ihkdhevdm ijb j_\ghklb dZd fu m`_ agZ_f wfhpbb \hajZklZxl gZ h[hbo ihexkZo Z \ dhg_qghf blh]_ ihjh`^Zxl g_gZ\bklvex[h\v lh b Hl_eeh b HjhkfZg m[b\Zxl `_gsbg dhlhjuo [_amfgh ex[ylHl_eehp_em_lkiysmx>_a^_fhgmij_`^_q_fmf_jl\blv__b `Z`^_lp_eh\Zlv__ _s_b _s_k Hl_eehHqbklhlZ^uoZgvyIj_^lh[hx=hlh\hijZ\hkm^v_hg_f_lv?s__s_jZa;m^v lZdhcihkf_jlbY aZ^mrml_[y²b hlex[\bKhc^mk mfZIhke_^gbcjZaihke_^gbcLZdfu g_p_eh\Zebkvgbdh]^ZY ieZqmb dZagxkh\k_fdZdg_[hDhlhjh_dZjZ_l\haex[b\ : kf_jlbAZbjuij_^r_kl\m_lke_^mxsZykp_gZ HjhkfZg H lu g_ agZ_rv dZd iuedh y __ ex[be <a]ey^ __ kihkh[_g [ue j_rblv fhx km^v[m ;_a g__ g_l b g_ fh`_l [ulv fg_ kqZklvy gZ \_fe_ Gh b kljZ^Zlv fh]m y ebrv baaZ AZbjuKdZ`b`_DhjZkfbgl_[_g_`Zevf_gy"Dhj Zk fb gDZdkmelZgluieZq_rv"Lu" HjhkfZgLZdagZc`_wlbke_au²i_j\u_Qlhm\eZ`gbebhqbfg_GZijhly`_gbb\k_c`bagb H fhc ihahj B \k_ ` _]h kljZrg__ Ke_au wlb aZ gbfb [m^_l djh\v AZ gbfb [m^_l kf_jlv DhjZkfbg>mrZfhykljZ^Z_laZl_[yHjhkfZgG_aZf_gykljZ^ZcZ aZl_jaZgvyB aZex[h\v KljZ^ZcaZf_klvLukeurbrv" ?kebh[Z Hl_eehb HjhkfZg gZdeZ^u\Zxl gZ k_[y jmdb lh wlhijhbkoh^blg_ lhevdh hl kljZrgh]hkhagZgbyqlhbo`_jl\hcklZeZgb \q_fg_ih\bggZy`_gsbgZghb ihlhfmqlh[_a \haex[e_gghchgbg_ohlyl`blv^Zevr_IZjZghbq_kdh_jZa\blb_fu\klj_qZ_fm`_\ Zglbqghc ebl_jZlmj_\ qZklghklbm We_dlju]_jhbgbh^ghbf_gghcljZ]_^bbKhnhdeZ?_[hevihih\h^m kf_jlb hlpZ g_kfhljy gZ fgh]b_ ijhr_^rb_ k lhc ihju ]h^u _s_ k\_`Z gh dm^Z [hevr_ __ g_gZ\bklv d m[bcpZf ² fZl_jb k __ l_i_j_rgbf fm`_f AZ \k_ wlb ]h^u g_gZ\bklv g_ kfy]qbeZkvgZijhlb\hgZ\hajhkeZ<_^vWe_dljZ\ugm`^_gZ[ueZhklZlvky\ ^hf_m[bcp]^_ __ \kyq_kdb mgb`Zxl HgZ kZfZ jZkkdZau\Z_l [jZlm Hj_klm qlh k g_c h[jZsZebkv dZd k jZ[ug_c aZklZ\eyeb ]heh^Zlv ba[b\Zeb Gh fh`gh eb a^_kv ]h\hjblv h ©fZylgbdh\hf ^\b`_gbbª klhev oZjZdl_jghf ^ey iZjZghbq_kdh]h jZa\blby" >Z g_khfg_ggh [ueh b hgh We_dljZ aZsbsZeZkv dZd fh]eZ hkuiZeZ fZlv [jZgvx ]jhabeZ qlh \hl y\blky aZdhgguc fklbl_ev kug Hj_kl LZdZy kp_gZ h[\bg_gby ijhbkoh^bl ^Z`_ i_j_^ kZfuf \ha\jZs_gb_f Hj_klZ We_dljZ \hkdebpZ_l qlh m fZl_jb ² bglbfgZy k\yav k __ khh[sgbdhf \ khxa_ k dhlhjufhgZk]m[beZhlpZqlhajyhgZk_[ygZau\Z_lfZl_jvxJZ[h\eZ^_ebpZ\hldZdgZau\Z_l __ We_dljZ²klhblebrvihkfhlj_lv\ dZdbomkeh\byo`b\_l__ iZ^q_jbpZqlh[uwlh\kydhfm klZehykgh =em[bgZ g_gZ\bklb ho\Zlb\r_c We_dljm k\b^_l_evkl\m_l h lhf qlh iZjZghbq_kdh_ jZa\blb_^hklb]eh\_jrbguIhke_i_j\h]hm^ZjZgZg_k_ggh]hHj_klhffZl_jbWe_dljZdjbqbl _fmqlh[uhgm^Zjbe_s_jZam^Zjbekh\k_xkbehc: i_j_^l_fdZdhgm[b\Z_lW]bklZk_kljZ lj_[m_lqlh[u[jZlg_^Z\Ze_fmijhbag_klbgb keh\Zqlh[uihkdhj__g_f_^e_gghm[beZ l_eh m[blh]h [jhkbe gZ kt_^_gb_ rZdZeZf IZjZghbq_kdh_ jZa\blb_ ^hoh^ys__ ^h g_gZ\bklb ih^h[guofZkrlZ[h\\hafh`ghlhevdhm iZjZghbq_kdhcebqghklb\ijhq_f\ ljZ]_^bbKhnhdeZ g_l ijyfuo ^Zgguo qlh[u ml\_j`^Zlv wlh M WkobeZ \ _]h ©Hj_kl_c_ª i_qZev b m]g_l_gb_ We_dljukbevg__q_fg_gZ\bklvIhwlhfmg_lhkgh\Zgbc]h\hjblvh iZjZghbq_kdhfjZa\blbbm ]_jhbgb WkobeZ ?s_ [he__ j_adh hlebqZ_lky We_dljZ m ?\jbib^Z >bZeh] f_`^m We_dljhc b Hj_klhfgZihfbgZ_la^_kvjZa]h\hjgZ[ulh\u_l_fuhkh[Zy]em[bgZqm\kl\?\jbib^hflZd`_ g_ bah[jZ`Z_lky GZ \_kvfZ ijhaZbq_kdb knhjfmebjh\Zgguc Hj_klhf lhevdh qlh m[b\rbf W]bklZ \hijhk ©: k fZl_jvx qlh [m^_f ^_ eZlv" M[v_f lh`_ qlh eb"ª We_dljZ hl\_qZ_l ml\_j^bl_evgh jZkkm`^Zy ijb wlhf lj_a\h ^_eh\blh ©: q_f wlh l_[_ kh[kl\_ggh fh`_l ih\j_^blv" <_^v lu fklbrv aZ hlpZª Qm\kl\h g_gZ\bklb m F_^_b \ h^ghbf_gghc ^jZf_ ?\jbib^Z _s_ [he__ ]em[hdh_ q_f m We_dlju KhnhdeZ H^gZdh a^_kv g_ gZ\bklv y\ey_lky g_ ijbagZdhf iZjZghbq_kdh]h jZa\blby Z g_ ihkj_^kl\_gguf ke_^kl\b_f hkdhj[e_gby gZg_k_ggh]hF_^__Yahghf hl\_j]rbf __ =em[bgZ \ujbkh\u\Zxs_cky a^_kv wfhpbhgZevghc j_Zdpbbg_kfhljygZhlkmlkl\b_iZjZghbq_kdh]hjZa\blbyl_f[he__aZklZ\ey_lih^mfZlvqlh i_j_^ gZfb ² iZjZghbq_kdZy ebqghklv Wlm fukev ih^l\_j`^Z_l b kZf ?\jbib^ \deZ^u\Zy \ mklZ gygb ke_^mxsb_ keh\Z oZjZdl_jbamxsb_ F_^_x ©M g__ `_kldbc gjZ\ Z g_kijZ\_^eb\hklb hgZ g_ \ughkblª M =jbeviZjp_jZ F_^__ ^h kh\_jr_gby ij_klmie_gby ijbrehkvi_j_g_klb_s_[hevr_kljZ^Zgbc__ ihklmidbgZau\Zxl\Zj\Zjkdbfb__ h[\bgyxl\ m[bckl\_hlpZb [jZlZhgZih^\_j]Z_lky\k_h[s_fmij_aj_gbxHp_gdZ__ \k_fbhdjm`Zxsbfb kdhgp_gljbjh\ZgZ\ keh\ZodhlhjufbDj_aZijb\_lkl\m_lfm`ZF_^_b©;_^gy`dZhgbk\yaZeb l_[ykmijm`_kdbfbmaZfbk hf_jabl_evghc`_gsbghchljZ\bl_evgbp_chlp_m[bcp_cªGh^Z`_ m =jbeviZjp_jZhibkZgZg_dZjlbgZiZjZghbq_kdh]hjZa\blbyZ ebrvkmffZkljZ^ZgbcF_^_b Yahgm`_^h\hevgh^Z\ghg_gZ\b^bl`_gmZ ih^dhg_pgbdZdk\h_cg_gZ\bklbg_dhgljhebjm_l F_^_y g_ bf__l \hafh`ghklb ihkl_i_ggh kfbjblvky kh k\h_c ]hj_klghc km^v[hc l d gZ g__ \kydbc jZa h[jmrb\Z_lky gh\h_ ]hj_ HgZ m[beZ k\hbo ^_l_c [ueZ ba]gZgZ ba k\h_c kljZgu b gb]^_gZa_fe_g_kfh]eZ[ugZclbijbklZgbsZb[hih\k_c=j_pbb__ g_gZ\b^_ebKblmZpbym =jbeviZjp_jZ gZf ij_^klZ\ey_lky [he__ ykghc q_f m ?\jbib^Z M ?\jbib^Z F_^__ lZd`_ ij_^klhbl ba]gZgb_ gh hgZ agZ_l ]^_ _c h[_ki_q_g ijbxl agZ_l qlh \u_oZlv lm^Z fh`gh b h^ghcb \f_kl_k ^_lvfb Qlh[u __ ij_klmie_gb_ ij_^klZeh i_j_^ gZfb ikboheh]bq_kdb [he__ m[_^bl_evguf gZf ke_^m_l ^himklblv gZjy^m k iZjZghbq_kdbfb q_jlZfb lZd`_ b wibe_ilhb^gu_ ² d wlhc dhf[bgZpbb fu _s_ \_jg_fky MdZaZgb_ gZ wlh bf__lky b \ kZfhc ljZ]_^bb F_^_y ?\jbib^Z \hh[s_kdehggZd [_am^_j`guf\kiurdZfZnn_dlh\LZd^mfZyh k\hbo^_lyohgZ\hkdebpZ_l ©Ijhdeylh_hljh^v_jh`^_ggu_g_gZ\b^ys_cfZl_jvxBa^hogbl_`_\f_kl_ kh k\hbfhlphf imklvih]b[g_lf_jadbcjh^gZ\_dbª:gZebabjmyg_gZ\bklvDjbf]bev^ud OZ]_gmb d[jZlvyf ©I_kgv h Gb[_emg]Zoª fu lZd`_ g_ kdehggu mkfZljb\Zlv a^_kv fhf_glh\ iZjZghbq_kdh]h jZa\blby Ih djZcg_c f_j_ Z\lhj h[ wlhf gbq_]h g_ ]h\hjbl =_[[_ev \ k\h_f ihke_keh\bb d wlhfm wihkm lZd`_ gbq_]h g_ mihfbgZ_l h lhf ihq_fm g_gZ\bklv \ Djbf]bev^_ `beZ ijblZb\rbkvklhevdhe_lIhgZlmj_`_Djbf]bev^Z_^\Zebfh`_l[ulvhlg_k_gZd iZjZghbdZf beb d aZklj_\Zxsbf ebqghklyf Yjdbf ijbf_jhf iZjZghbq_kdbo q_jl ebqghklb \ om^h`_kl\_gghc ebl_jZlmj_ fh`_l kem`blv JZkdhevgbdh\ >hklh_\kdh]h Gh ihkdhevdm d wlbf q_jlZfijbkh_^bgyxlkyfhf_glubgljh\_jlbjh\Zgghklblhh g_fj_qvihc^_liha`_< jhfZg_ ©Ij_klmie_gb_ b gZdZaZgb_ª gZoh^bf b \lhjmx iZjZghbq_kdmx ebqghklv @_gZ FZjf_eZ^h\Z ij_^klZ\e_gZ gZf \gZqZe_ `_gsbghc kehfe_gghc ]heh^hf b [he_agvx d lhfm `_ h`_klhq_gghc\kiuevqb\hcb q_jkl\hcbaaZivygbpufm`ZGh^Zevr_fum[_`^Z_fky\ lhf qlh i_j_^ gZfb \ h[s_f ^h\hevgh k\h_h[jZagZy ebqghklv FZjf_eZ^h\Z gZ dZ`^hf rZ]m mihfbgZ_lh k\h_f^\hjygkdhfijhbkoh`^_gbbb hlblmeZob a\Zgbyok\h_]hhlpZIh^jmdhcm g__ \k_]^Z g_dh_ k\b^_l_evkl\h \u^Zggh_ _c aZ hkh[u_ aZkem]b b \ dhlhjhf dklZlb mdZaZgu ^he`ghklv b a\Zgb_ hlpZ HgZ \ukhdhf_jgh \ hkdhj[bl_evghf lhg_ ]h\hjbl kh k\h_c d\Zjlbjghcohaycdhc[jZgbl__ihklhygghmdZau\ZygZ__ gbadh_ijhbkoh`^_gb_<b^bfhba aZijbkms_]h_chljh`^_gby\ukhdhf_jbyhgZhkh[_gghly`_ehi_j_ghkbl[_^ghklvgm`^m< wlhf ieZg_ ihgylgh b __ ih\_^_gb_ m [u\r_]h gZqZevgbdZ fm`Z d dhlhjhfm hgZ gZ]eh \ju\Z_lkyb gZqbgZ_l_]h[_kiZj^hgghjm]ZlvZ ih^dhe_pr\ujy_l\ g_]hq_jgbevgbp_cohly hgZ ^he`gZ agZlv qlh g_ gZqZevgbd \bgh\Zl \ ieZq_\ghc km^v[_ k_fvb Z __ fm`Zedh]hebd Ijhy\e_gb_f ^mr_\gh]h aZ[he_\Zgby ke_^m_l kqblZlv b wibah^ dh]^Z ]hkih`Z FZjf_eZ^h\Z ]hgblk\hbofZehe_lgbo^_l_cgZmebpmaZklZ\eyyboi_lvb lZgp_\ZlvWlbfhgZohq_ldZd[u ijh^_fhgkljbjh\Zlv i_j_^ \k_fb dZd [_a`Zehklgu d g_c b __ k_fv_ hdjm`Zxsb_ hiylv aZ[u\Zyqlh]eZ\guc\bgh\gbd²__ fm`[_kijh[m^gucivygbpZLZdh_©km`_gb_]hjbahglZª ² \ ^Zgghf kemqZ_ k\_^_gb_ \k_]h d ba^_\Zl_evkl\Zf gZ^ ©gb \ q_f g_ih\bgghc k_fv_cª ² ijb\h^bl gZjy^m k ly`_euf kl_q_gb_f h[klhyl_evkl\ d j_Zdpbyf iZjZghbq_kdhc ebqghklb Ke_^m_l ^h[Z\blv qlh ]heh^ b [he_agb b m FZjf_eZ^h\hc b m JZkdhevgbdh\Z g_ lhevdh \uau\Zxlh`_klhq_gb_ghhdZau\Zxlkyb qbklhnbabq_kdb[he_ag_l\hjgufnZdlhjhfZ wlh\ k\hx hq_j_^v hljZ`Z_lky gZ ikbobd_ M h[hbo fu gZ[ex^Z_f hkh[mx jZa^jZ`bl_evghklv dhlhjmxg_lhkgh\Zgbck\yau\Zlvk iZjZghbq_kdbfbijhy\e_gbyfbM JZkdhevgbdh\Zd lhfm`_ jZa\bekyikbohawdah]_ggh]hoZjZdl_jZ< jhfZg_hibkZgZkp_gZgZiZ^_gbyg_kdhevdboq_eh\_d gZ _]h ohaycdm Hg keurbl \k_ g_h[udgh\_ggh q_ldh ohly kZf b g_ ijbkmlkl\m_l dZd wlh [u\Z_lh[uqghijbwdah]_gguoikbohaZoijhl_dZxsbok ^_ebjb_fbeb]ZeexpbghahfF_`^m l_f wlh [ue b g_ khg lZd dZd iha^g__ JZkdhevgbdh\ kijZrb\Z_l ]hjgbqgmx ihq_fm [beb ohaycdm<_kvwlhlwibah^k\yaZgk \g_aZigufbaf_g_gb_fgZkljh_gbyJZkdhevgbdh\ZHg\^jm] ^_eZ_lkyg_bfh\_jghjZa^jZ`bl_evgufj_qv_]hklZgh\blkybfimevkb\ghcb Z]j_kkb\ghc Fu iheZ]Z_f qlh ijbqbghc [ueh bf_ggh nbabq_kdh_ [he_ag_ggh_ khklhygb_ IZjZghbq_kdhc ebqghklvx ke_^m_l ih\b^bfhfm kqblZlv mqblu\Zy _]h g_bfh\_jgmx ih^hajbl_evghklv b Fbljb^ZlZ ba h^ghbf_gghc ^jZfu JZkbgZ Fbljb^Zl qj_af_jgh j_\gb\ b ih wlhc ijbqbg_ `_klhd\ h[jZs_gbbk `_gsbgZfb?]hkug]h\hjblh g_fK_j^p_m hlpZ`_klhdh_m`_g_h^gm `_gsbgm hg ij_^Ze km^m aZ lh qlh _]h j_\ghklv g_ ^himkdZeZ \[ebab g__ gbdZdh]h ^jm]h]h fm`qbguG_ohq_lkyb ]h\hjblvh lhfkdhevdh]hjygZ^_eZeZ[_r_gZyj_\ghklvhlpZ ;eZ]h^Zjy bahsj_gghc ih^hajbl_evghklb Fbljb^Zl \kdhj_ jZa]Z^u\Z_l qlh h^bg ba kugh\_c gZf_j_\Z_lky ij_^Zlv _]h jbfeygZf ^jm]hc `_ ex[bl ^_\mrdm k dhlhjhc hg kZf kh[bjZ_lky\klmiblv\ [jZdH ih^hajbl_evghklbk\b^_l_evkl\mxlke_^mxsb_keh\Z Y \_qgh`beih^kljZohfij_^Zl_evkl\Zihwlhfmy bamqZey^ub ljZlbe[_kdhg_qgu_qZku gZihbkdbijhlb\hy^byhlkZfh]hkljZrgh]hy^Z Qj_af_jgZy hklhjh`ghklv ijb\h^bl d lhfm qlh lhl y^ dhlhjuf Fbljb^Zl kZf ohl_e hljZ\blvky g_ hdZau\Z_l ^_ckl\by DZd ibr_l JZkbg \ ij_^bkeh\bb d ^jZf_ hg hibjZeky gZ bklhjbq_kdb ^hklh\_jgu_ fZl_jbZeu Kh]eZkgh bklhjbdh[bh]jZnbq_kdbf ^Zgguf Fbljb^Zl hq_\b^gh [ue ebqghklvx iZjZghbq_kdhc Mihjkl\h k dhlhjuf hg gZ ijhly`_gbb e_l \_e [hjv[m k jbfeygZfb fh`gh h[tykgblv \ dZdhclh f_j_ kljmdlmjhc _]h ebqghklb BlZd fu fh]ebm[_^blvky\ lhfqlhibkZl_ebj_^dhij_^klZ\eyxlgZfiZjZghbq_kdmxebqghklv\ qbklhf \b^_[_aiZjZghbq_kdh]hjZa\blby<ijhq_fwlhe_]dhh[tykgbfh\_^vih\_^_gb_i_jkhgZ`_c ijb ihklhygghf jZkdZqb\Zgbb Znn_dlh\ ijb^Z_l ^_ckl\bx [hevrh_ gZijy`_gb_ ^_eZ_l ijhba\_^_gb_ hkh[h \i_qZleyxsbf AZf_lbf h^gZdh qlh h iZjZghbq_kdhf jZa\blbb m Fbljb^ZlZ \k_ `_ ljm^gh \ukdZaZlvky dZl_]hjbq_kdb Fh`gh gZa\Zlv h^bg h[jZa om^h`_kl\_gghc ebl_jZlmju ]^_ iZjZghbq_kdh_ jZa\blb_ ke_^m_l iheghklvx bkdexqblv KljmdlmSD lbibqghc aZklj_\Zxs_c ebqghklb \uy\e_gZ a^_kv k hkh[hc yjdhklvx H[jZa ZevdZev^Zkm^vbba©KZeZf_bªm DZev^_jhgZ\hiehsZ_l\ k_[_qbklh_h^ghagZqgh_aZklj_\Zgb_ ebqghklb < h^ghbf_gghc ^jZf_ Ehi_ ^_ <_]Z ihkem`b\r_c DZev^_jhgm h[jZaphf ]_jhc \ h[s_f koh^_g k dZev^_jhgh\kdbf gh h[jbkh\Zg dm^Z f_g__ yjdh M DZev^_jhgZ `_ Dj_kih [m^msbc ZevdZev^ ij_^klZ\ey_lky \ kZfhf gZqZe_ \_kvfZ fgh]hagZqbl_evgufb keh\Zfb DZiblZg^hg:ev\ZjhmagZ\qlhhg[m^_ljZkd\Zjlbjh\Zgm Dj_kihaZy\ey_l Y ihemqZx d\Zjlbjm \ ^hf_ dj_klvygbgZ dhlhjuc y\ey_lky kZfuf [hevrbf [h]Zqhf \h \k_c wlhc f_klghklb Gh fg_ ]h\hjbeb qlh g_ kms_kl\m_l gZ k\_l_ q_eh\_dZ [he__ kmjh\h]h b ]hj^h]hih\ukhdhf_jghfmlhgmg_mklmiZxs_fmgZke_^ghfmijbgpmE_hgkdhfm <_kvfZ oZjZdl_jgZ h^gZ kp_gZ \ dhlhjhc Dj_kih ihdZ _s_ g_ ZevdZev^ Z ijhklhc dj_klvygbg ^bkdmlbjm_l k ]_g_jZehf ^hghf Ehi_ Dj_kih kZ^blky gZ klme lhevdh ihke_ gZklhcqb\h]hijb]eZr_gby]_g_jZeZ >hgEhi_H^gZdhg_^Ze__dZd\q_jZ\umk_ebkvkjZamg_h`b^Zyijb]eZr_gbyDj_kihY wlhk^_eZebf_gghihlhfmqlh\ug_ijb]eZkbebf_gyGugq_`_y ijhklhkZfg_ohqmohly\u b ijb]eZkbebk_klvY \_`eb\lh]^Zdh]^Zkhfghc\_`eb\u H [hevrhf qm\kl\_ kh[kl\_ggh]h ^hklhbgkl\Z ijbkms_f Dj_kih k\b^_l_evkl\m_l ke_^mxsZy_]hj_iebdZ Dj_kih Km^Zjv y \k_]^Z hl\_qZx \ lhf lhg_ \ dhlhjhf dh fg_ h[ jZsZxlky <q_jZ \u ]h\hjbebbgZq_^eyf_gyg_lkhfg_gby\ lhfqlh\k_gZrbh[hx^hklhjhggb_\hijhkub hl\_lu ^he`gu\k_]^Z]Zjfhgbjh\Zlv^jm]k ^jm]hf Iha^g__ Dj_kih k [hevrbf mihjkl\hf b f_`^m ijhqbf g_ [_amki_rgh [hj_lky aZ lh qlh[u lhl dlh h[_kq_klbe _]h ^hqv ihg_k aZkem`_ggh_ gZdZaZgb_ G_ h[tykgy_lky eb wlh `_eZgb_fohlvdZdgb[m^vdhfi_gkbjh\Zlvihahjk\Zeb\rbckygZk_fvxGhkh^_j`Zgb_iv_ku ihdZau\Z_l qlh lZdb_ ieZgu m Dj_k\h [ueb _s_ ^h ijhbkr_kl\by l _ dh]^Z ieZq_\gZy i_jki_dlb\Z ebrv m]jh`ZeZ ^hq_jb Dj_kih ihdZ _s_ kh\_jr_ggh kihdh_gª ]h\hjbl g_ \ khklhygbbZnn_dlZgh\ keh\Zo_]hqm\kl\m_lkyijbgpbibZevgZyihabpby >hgEhi_K \Zfbkljyk_lky[_^Z" BaaZ q_]h" Dj_kih ?keb y m[vx lh]h dlh imklv ^Z`_ ba^Zebm]jh`Z_lfh_cq_klb>hgEhi_Q_jl\havfb<ug_agZ_l_qlhebqlh^hg:ev\ZjhdZ iblZg"Dj_kihQ_jl\havfby wlhagZxGh^Z`__keb[ hg[ue]_g_jZehf\ m]jh`Zefh_cq_klb lhy [um[be_]h>hgEhi_>ZluagZ_rvebqlh_kebdlhgb[m^v^hljhg_lkyohlv^hdmkhqdZ ldZgb gZ fmg^bj_ fh_]h khe^ZlZ lh y g_f_^e_ggh jZkihjy`mkv _]h ih\_kblv Dj_kih : _keb dlhgb[m^vihoblblohlvh^bgZlhffh_cq_klblh²deygmkv²y ih\_rm_]hkh[kl\_gghjmqgh >hgEhi_LuaZ[ueqlhdZddj_klvygbgluh[yaZgfheqZkl_ji_lvijbqbg_ggucmjhg" Dj_kih Mjhg gZg_k_gguc khklhygbx gh g_ q_klb deygmkv \k_\urgbf Fhc dhjhev \eZkl_ggZ^fhbfb^_gv]Zfbb gZ^`bagvx_kebhgihlj_[m_lbo²fhc^he]fheqZlvGhhgg_ \eZkl_ggZ^q_klvxq_eh\_dZQ_klv²kh[kl\_gghklv^mrbZ ]hkih^bg^mrbfh_c²[h]>hg Ehi_ Q_jl f_gy ih[_jb \u ih`Zemc ijZ\u iZljhg Dj_kih Q_jl f_gy ih[_jb y kZf lZd ^mfZxY \hh[s_\k_]^Z[u\ZxijZ\ KljZggu_keh\Zijhbaghkbla^_kvDj_kihghwlbkljZggu_keh\Z\eh`_gu\ mklZlbibqghc iZjZghbq_kdhcebqghklbdhlhjZymijyfhaZsbsZ_lk\hbijZ\Zb q_klv^Z`_lh]^Zdh]^Zj_qv b^_lh `bagbb kf_jlbIjbwlhfDj_kihijbagZ_lqlhkhkeh\gu_jZaebqbylj_[mxlmklmihd\ hlghr_gbb h[jZs_gby \_`eb\hklb gh hg g_ mklmibl lh]h gZ qlh bf__l ijZ\h dZd ebqghklv Iha^g__ dh]^Z dZiblZgm m^Zehkv ihoblblv b h[_kq_klblv ^_\mrdm ijhbkoh^bl _s_ h^bg jZa]h\hjf_`^m^hghfEhi_b Dj_kihk_evkdbfZevdZev^hfgh]hjZa^hk_jv_ag__ >hgEhi_:j_klh\Zggh]hy kiZkmb hlhfsmaZihahjDj_kihBf_gghaZihahjb yaZdh\Ze _]h \ p_ib >hg Ehi_ : ba\_klgh eb \Zf qlh hg khe^Zl b hl\_qZ_l i_j_^h fghc" Dj_kih : ba\_klgheb\Zfqlhhgihoblbefhx^hqv">hgEhi_GhydZd]_g_jZejZkihjy`Zxkv\k_f\ ]hjh^_ \Zf wlh ba\_klgh" Dj_kih Wlhl gZ]euc g_]h^yc mdjZe q_klv fh_]h ^hfZ ² \Zf wlh ba\_klgh" G_ih^Zleb\hklv g_mklmiqb\hklv iZjZghbq_kdhc ebqghklb ijh y\ey_lky a^_kv kh \k_c hq_\b^ghklvx <jy^ eb fh`gh ]h\hjblv h[ mijyfkl\_ Dj_kih \_^v hg ijZ\ ^Z hg b kZf lZd kqblZ_lOZjZdl_j_glZdhcrljbog_aZ^he]h^hwlh]h]_g_jZeij_ajbl_evghhlha\Zekyh dZdhf lh ©km[t_dl_ dj_klvygkdh]h khkeh\byª Dj_kih hl\_qZ_l ©Dhg_qgh hg dj_klvygbg b _klv gh _keb_fmwlhfmmijyfpm\a[j_^_l\ ]heh\mqlh_]hg_^jm]Zke_^m_lih\_kblvlhdeygmkv[h]hf qlh hg g_ mklmiblª Dj_kih b kZf ^h[b\Z_lky p_eb dZiblZg \a^_jgml gZ \bk_ebpm _s_ ^h kiZkbl_evgh]h \f_rZl_evkl\Z ]_g_jZeZ Hg ihklmiZ_l aZ\_^hfh g_ ih aZdhgm b[h ih aZdhgm dZiblZgZbf__lijZ\hkm^blvlhevdh\h_gguckm^Ghl_fm[_^bl_evg__ih^l\_j`^Z_lkyfukev qlh Dj_kih y\ey_lky bf_ggh aZklj_\Zxs_c ebqghklvx b[h dZd bklbgguc iZjZghbd hg mklZgZ\eb\Z_l k\hb ijZ\Z kZf _fm gZie_\Zlv gZ lh qlh lj_[m_lky hnbpbZevgufb ihklZgh\e_gbyfb >jZfZ DZev^_jhgZ ij_^klZ\ey_lky bkdexqbl_evgh p_gghc bf_ggh ^ey fh_c l_fZlbdb b \hl ba dZdbo khh[jZ`_gbc a^_kv fu ij_`^_ \k_]h klZedb\Z_fky g_ k iZjZghbq_kdbfb j_Zdpbyfb Z k kZfhc iZjZghbq_kdhc ebqghklvx k oZjZdl_jgufb j_Zdpbyfb Djhf_ h[jZaZ Dj_kih fu \h \k_c fbjh\hc om^h`_kl\_gghc ebl_ jZlmj_ g_ gZreb gb h^gh]h klhev yjdh]h m[_^bl_evgh]h b h^ghagZqgh]h h[jZaZ iZjZghbq_kdhc ebqghklb Dh]^Z fu klZedb\Z_fkyk iZjZghbq_kdbfbj_Zdpbyfbex^_clhaZgbfbdZdijZ\behklhbliZjZghbq_kdh_ jZa\blb_ L_f \j_f_g_f KZeZf_ckdbc ZevdZev^ [md\Zevgh k i_j\uo j_iebd iv_ku aZgbfZ_l l\_j^mxihabpbxb bf_ggh wlZihabpbyhij_^_ey_l \k_ _]h ^Zevg_crb_ ihklmidb <hafh`gh baaZwlh]hkgb`Z_lkyom^h`_kl\_ggZyp_gghklvijhba\_^_gbygh^eyfh_cijh[e_fZlbdb\ wlhf aZdexqZ_lkyhkh[h_ij_bfms_kl\hiv_kuDZev^_jhgZ >_fhgkljZlb\ghaZklj_\Zxsb_ebqghklb Ijb dhf[bgZpbyo bkl_jbq_kdbo b iZjZghbq_kdbo q_jl jZa\blb_ fh`_l ijbgbfZlv jZaebqgu_gZijZ\e_gbybgh]^Zkh\_jr_gghijhlb\hiheh`gu_K h^ghcklhjhgu\hafh`ghqlh oZjZdl_jgZy^eybkl_jbdZl_g^_gpbyh[oh^blvljm^ghklbgZqbgZ_lhij_^_eylv_]hih\_^_gb_Z iZjZghbq_kdh_ ihklhygkl\h dZd [u nbdkbjm_l lZdh_ hljbpZl_evgh_ gZijZ\e_gb_ Gh fh`_l kha^Zlvky b h[jZlgZy dZjlbgZ iZjZghbq_kdh_ q_klhex[b_ h[jZsZ_l q_eh\_dZ d khpbZevgh iheh`bl_evguf p_eyf ij_ke_^m_fuf k mihjkl\hf Z bkl_jbq_kdZy kihkh[ghklv ijbkihkZ[eb\Zlvky[eZ]hijbylkl\m_lwlhfm<ijhq_fdhg_qgucj_amevlZl\ wlhfkemqZ_fh`_l [ulvhljbpZl_evguf gZijbf_j ijbqj_af_jghf iZjZghbq_kdhf q_klhex[bb beb ijb ihiuld_ h[_ki_qblv mki_o h^gbf ebrv bkl_jbq_kdbf ijbl\hjkl\hf Ijbf_jhf dhf[bgbjh\Zgghc bkl_jbdhiZjZghbq_kdhcebqghklbj_r_gghc\ khpbZevghhljbpZl_evghfieZg_fh`ghkqblZlv h[jZa NjZgpZ FhhjZ ba ^jZfu Rbee_jZ ©JZa[hcgbdbª < kZfhf gZqZe_ ^jZfu ijbl\hjgh jZa^mlZy`ZehklvNjZgpZd hlpmb d[jZlmk\b^_l_evkl\m_lh nZevrbZ m\_j_gghklvb gZ]ehklv k dhlhjhchgde_\_s_l²h[bkl_jbq_kdboq_jlZok >ha\hevl_fg_kgZqZeZhlhclb\ klhjhgdmb ijheblvke_amkhkljZ^Zgbyh fh_faZ[em^r_f [jZl_Y [u^he`_g[ue\_qghfheqZlvh g_f²\_^vhg\Zrkug^he`_g[ue[ugZ\_dbkdjulv _]hihahj\_^vhgfhc[jZlGhih\bgh\Zlvky\Zf²fhci_j\uci_qZevguc^he]: ihlhfmg_ \ausbl_ IZl_lbq_kdh_ kZfh\hko\Ze_gb_ NjZgpZ k wdaZevlbjh\Zggufb aZ\_j_gbyfb ^hihegy_l bkl_jbq_kdbcoZjZdl_j_]hih\_^_gbyk <ZrNjZgp]hlh\ ih`_jl\h\Zlv k\h_c `bagvx qlh[uijh^eblv \Zrm <ZrZ `bagv ² ^ey f_gy hjZdme dhlhjh]h y \hijhrZx i_j_^ ex[uf gZqbgZgb_f a_jdZeh \ dhlhjhf y \k_ kha_jpZx>eyf_gyg_l^he]Z^Z`_kZfh]hk\ys_ggh]hdhlhjh]h[uy g_gZjmrbedh]^Z^_eh b^_lh \Zr_c[_kp_gghc`bagb<_^bl_eb\ufg_" Ihke_ lh]h dZd NjZgp m[_^be hlpZ \ k\h_c bkdj_gghklb _fm m`_ fh`gh jZkibku\Zlv b fgbfmx ih^ehklv k\h_]h [jZlZ gh ^_eZ_l hg wlh \_kvfZ obljh ih^q_jdb\Zy kh[kl\_ggu_ ©[eZ]hjh^gu_ª gZf_j_gby Hl_p ^he`_g hllhedgmlv DZjeZ g_ \ gZdZaZgb_ Z ba `_eZgby _]h kiZklbk² NjZgp Kdhevdh lukyq ex^_c `Z^ghib\rboba qZrb gZkeZ`^_gbc bkdmibeb k\hb ]j_ob kljZ^Zgb_fB jZa\_l_e_kgucg_^m]kimlgbd\kydbobaebr_kl\g__klvi_jkl[h`bc"<ijZ\_ eb q_eh\_d k\h_c `_klhdhc fy]dhklvx hl\jZsZlv wlhl i_jkl" <ijZ\_ eb hl_p gZ\_db ih]m[blv aZeh]\jmq_gguc_fmg_[hf"Ih^mfZcl_hl_p_keb\uohlvgZ\j_fyhlklmibl_kvhlDZjeZg_ [m^_lebhg\ugm`^_gbkijZ\blvkyb h[jZlblvkygZimlvbklbgu"?keb`_hgb \\_ebdhcrdhe_ g_kqZklvy hklZg_lky g_]h^y_f lh]^Z ]hj_ hlpm ihl\hjkl\hf b fy]dhk_j^_qb_f jZajmrb\r_fm ij_^gZq_jlZgby \ukr_c fm^jhklb ² Gm dZd hl_p" KlZjbd Fhhj Y gZibrm qlh ebrZx _]h hlph\kdhcih^^_j`dbNjZgp<uihklmibl_ijZ\bevghb jZamfgh Ohly\ukdZau\ZgbyNjZgpZihegudZaZehkv[ubkdj_gg_]hqm\kl\Z\k_wlhebrvB]jZk NjZgpkhkf_ohf]ey^y_fm\ke_^Ml_rvkyklZjbdLugbdh]^Zm`_g_ijb`fzrv_]hd k\h_c ]jm^b Imlv lm^Z _fm ij_]jZ`^_g dZd Z^m imlv d g_[_kZf Hg [ue \uj\Zg ba l\hbo h[tylbcij_`^_q_flumki_eih^mfZlvqlhkZflh]hih`_eZ_rv@Zedbf[ue [u y b]jhdhf _keb[ufg_g_m^Zehkvhllhj]gmlvkugZhlhlph\kdh]hk_j^pZ[m^vhgijbdh\Zg d g_fm^Z`_ `_e_agufbp_iyfb Lm `_ lZdlbdm NjZgp ijbf_gy_l iha`_ \ jZa]h\hj_ k :fZeb_c Ihke_ ls_lguo ihiulhd ]jm[hhde_\_lZlvDZjeZ\ __]eZaZohgi_j_oh^bld gh\hcjhebijbdb^u\Zykvex[ysbf[jZlhf k NjZgp aZdju\ ebph jmdZfb Hlimklb f_gy Hlimklb >Zlv \hex ke_aZf LbjZg hl_p Emqr_]hbak\hbokugh\_cij_^Zlv\h\eZklvgm`^uim[ebqgh]hihahjZImklbf_gy:fZeby Y iZ^m d _]h gh]Zf [m^m fheblv _]h i_j_eh`blv gZ f_gy ly`_klv hlph\kdh]h ijhdeylvy ² ebrblvf_gygZke_^kl\Zf_gyFhydjh\vfhy`bagv\k_ª:fZeby[jhkZ_lky_fmgZr_x ;jZlfh_]hDZjeZ>h[jucfbeucNjZgp H^gZdh ihke_ i_j\h]h mki_oZ NjZgp g_kfhljy gZ [_amkeh\gh_ Zdl_jkdh_ ^Zjh\Zgb_ kh\_jrZ_lhrb[dm?]hkljZklvd :fZebbaZklZ\ey_lh[fZgsbdZihklmiblvg_hkfhljbl_evghhg ihlhjhibekyij_`^_\j_f_gbk NjZgp;uelbobcykguc\_q_jihke_^gbci_j_^_]hhlt_a^hf\ E_cipb]dh]^Zhgijb\_e f_gy\ [_k_^dm]^_\ulZdqZklhij_^Z\Zebkvex[h\guf]j_aZfFu^he]hkb^_ebfheqZIhlhf hg ko\Zlbe fhx jmdm b lboh kh ke_aZfb \ ]hehk_ kdZaZe ©Y ihdb^Zx :fZebx G_ agZx ihq_fmghfg_qm^blkyqlhwlhgZ\_dbG_hklZ\eyc__[jZl;m^v__ ^jm]hf__ DZjehf_keb DZjem g_ km`^_gh \ha\jZlblvkyª [jhkZ_lky i_j_^ g_c gZ dhe_gb b k `Zjhf p_em_l _c jmdb Gbdh]^Zgbdh]^Zgbdh]^Zg_\ha\jZlblkyhgZ y^Ze_fmk\ys_ggmxdeyl\m:fZebyhlijygm\ hlg_]hIj_^Zl_ev\hldh]^Zy mebqbeZl_[y B \lhjZyq_jlZebqghklbiZjZghbq_kdh_gZqZehgZ[ex^Z_lkym NjZgpZm`_\ kZfhfgZqZe_ ^jZfu<k_fhr_ggbq_kdb_^_ckl\byNjZgpZfh]ml[ulvijZ\bevghhp_g_guebrv\ lhfkemqZ_ _kebfumagZ_fdZdbfhg\k_]^Zqm\kl\h\Zek_[ymgb`_ggufb `ZedbfihkjZ\g_gbxkhk\hbf [jZlhfNjZgpZijbjh^Z^_ckl\bl_evghh[b^_eZghlZkljZklghklvk dhlhjhchg ijhlb\ wlh]h \hkklZ_lmdZau\Z_lgZh[b^mbklbgghiZjZghbq_kdh]hoZjZdl_jZk NjZgp M f_gy \k_ ijZ\Z [ulv g_^h\hevguf ijbjh^hc ² b deygmkv q_klvx y \hkihevamxkvbfbAZq_fg_y i_j\uc\ur_ebafZl_jbgkdh]hqj_\Z"AZq_fg__^bgkl\_gguc" AZq_f ijbjh^Z gZ\ZebeZ gZ f_gy wlh [j_fy mjh^kl\Z" Bf_ggh gZ f_gy" Keh\gh hgZ h[ZgdjhlbeZkv i_j_^ fhbf jh`^_gb_f Ihq_fm bf_ggh fg_ ^hklZeky wlhl eZieZg^kdbc ghk" Wlhl jhkl dZd m g_]jZ" Wlb ]hll_glhlkdb_ ]eZaZ" < kZfhf ^_e_ fg_ dZ`_lky qlh hgZ m \k_o ex^kdbo ihjh^ \ayeZ kZfh_ f_jadh_ kf_rZeZ \ dmqm b bki_deZ f_gy ba lZdh]h l_klZ :^ b kf_jlvDlh^Ze_cijZ\hh^Zjblv_]h\k_f\k_hlgy\m f_gy" Klj_fe_gb_ ^hklbqv \eZklb y\kl\_ggh a\mqbl \ wlhf `_ fhgheh]_ aZdZgqb\Zxs_fky keh\Zfbk NjZgpY \udhjqmx\k_qlhij_]jZ`^Z_lfg_^hjh]md \eZklbY [m^m\eZkl_ebghfb kbehc ^h[vxkvlh]hq_]hfg_g_^h[blvkyjZkiheZ]Zxs_c\g_rghklvx Wlb q_jlu hij_^_eyxl ih\_^_gb_ NjZgpZ gZ ijhly`_gby \k_c ^jZfu ?]h ebp_f_jgu_ \uiZ^u ijh^bdlh\Zgu g_ihf_jguf q_klhex[b_f b \_qghc h[b^hc gZ [jZlZ \_^v hg gZ\k_]^Z h[j_q_g[ulvom`__]h< fhf_gldh]^Zhg^mfZ_lqlhhl_pm`_f_jl\iZjZghbq_kdb_Znn_dlu _s_jZaijhy\eyxlk_[ykh\k_ckbehc<hll_i_jvgZklZeZ^he]h`^ZggZy fbgmlZ b hg \uiv_l qZrmk\h_]hlhj`_kl\Z^h^gZk ²Dlh`_l_i_jvhkf_eblkyijbclbb ihlygmlvf_gyd hl\_lmbebkdZaZlvfg_\ ]eZaZ©Lu ih^e_p"ª L_i_jv ^hehc ly]hklgmx ebqbgm djhlhklb \ ^h[ jh^_l_eb Kfhljbl_ gZ ih^ebggh]h NjZgpZb m`ZkZcl_kvFhchl_pg_\ f_jmih^keZsZek\hx\eZklvIh^^Zgguohgij_\jZlbe\ ^hfhqZ^p_\eZkdh\hmeu[Zykvhgkb^_em \hjhlb ijb\_lkl\h\ZebodZd[jZlv_\g ^_l_cFhb [jh\b gZ\bkgml gZ^ \Zfb ih^h[gh ]jhah\uf lmqZf ^ey ]hkih^bgZ dZd aeh\_sZy dhf_lZ \hag_k_lky gZ^ wlbfb ohefZfb fh_ q_eh klZg_l \Zrbf [Zjhf_ljhf Hg ]eZ^be b eZkdZe kljhilb\mx =eZ^blv b eZkdZlv g_ \ fhbo h[uqZyo Y \hg`m \ \Zr_ l_eh am[qZlu_ rihju \ aZklZ\exhl\_^ZlvdgmlZ Fh`gh iheZ]Zlv qlh gZlmjm NjZgpZ FhhjZ hij_^_ey_l hl kmlkl\b_ wlbq_kdbo ghjf ?]h e_]dhihklZ\blv\ jy^k l_fbaeh^_yfbh[jZaudhlhjuoijhZgZebabjh\Zgu\ur_Ghihkdhevdm hg d lhfm `_ b bkl_jbd lh ljm^gh ^hdZaZlv ihegh_ ij_g_[j_`_gb_ bf lj_[h\Zgbyfb wlbdb lhjfh`_gbyaeh^_ckdboaZfukeh\fh]ebg_bf_lvf_klZbaaZqZklh\klj_qZxs_]hkym bkl_jbdh\ \ul_kg_gby <ha[m^bfu_ebqghklb =jm[u_ bfimevkb\gu_ ebqghklb dhlhjufb jmdh\h^yl \e_q_gby b bgklbgdlu hgb qZklh h[eZ^Zxl Zle_lbq_kdbf keh`_gb_f lZd`_ ij_^klZ\e_gu \ om^h`_kl\_gghc ebl_jZlmj_ < ©;jZlvyo DZjZfZah\uoª >hklh_\kdbc gZ^_ey_l h^gh]h ba p_gljZevguo i_jkhgZ`_c q_jlZfb wibe_ilhb^gh]hikbohiZlZFubf__f\ \b^m>fbljbyklZjr_]hba[jZlv_\DZjZfZah\uoOhly b g_hgm[behlpZghaZih^hajblv_]h\ hlp_m[bckl\_g_ljm^ghihlhfmqlhhgh^gZ`^uba[be N_^hjZ IZ\eh\bqZ gZklhevdh `_klhdh qlh lhl \iheg_ fh] mf_j_lv hl ih[h_\ Ihke_ wlh]h >fbljbc g_kdhevdh jZa ]jhabe qlh hg \k_ jZ\gh g_ hklZ\bl _]h \ `b\uo Ijbqbghc [ueZ kljZklgZyex[h\vh[hbod =jmr_gvd_M FblbZnn_dlmkm]m[eyekyl_fqlhhl_p[ue[h]Zlgh ijylZe hl kugZ hklZ\e_ggu_ _fm \ gZke_^kl\h fZl_jvx ^_gv]b [he__ lh]h qlh bf_ggh k ihfhsvxwlbo^_g_]iulZekyaZ\h_\ZlvjZkiheh`_gb_=jmr_gvdbFbly\_kvfZihoh`gZhlpZ\ k_dkmZevghfieZg_\ hklZevghf`_g_bf_egbq_]hh[s_]hk N_^hjhfIZ\eh\bq_fdhlhjh]hfu \ur_ hoZjZdl_jbah\Zeb dZd bkl_jbq_kdmx ebqghklv Hl_p gZau\Z_l Fblx ©e_]dhfuke_gguf [mcgufkhkljZklyfbg_l_ji_eb\ufb dmlbehcª>hklh_\kdbclZdoZjZdl_jbam_lFblxlk <ijhq_fg_dhlhjZy[he_ag_gghklv_]hebpZ\ gZklhysmxfbgmlmfh]eZ[ulvihgylgZ\k_ agZeb beb keurZeb h qj_a\uqZcgh lj_\h`ghc b ©dmlys_cª `bagb dhlhjhc hg bf_ggh \ ihke_^g__\j_fym gZkij_^Z\ZekyjZ\ghdZd\k_fba\_klgh[uehb lhg_h[uqgh_jZa^jZ`_gb_ ^hdhlhjh]hhg^hklb]\ kkhjZokhk\hbfhlphfbaaZkihjguo^_g_]Ih]hjh^moh^behm`_h[ wlhfg_kdhevdhZg_d^hlh\IjZ\^Zqlhhgb hlijbjh^u[uejZa^jZ`bl_e_g©mfZhlju\bklh]hb g_ijZ\bevgh]hª dZd oZjZdl_jgh \ujZabeky h g_f m gZk gZr fbjh\hc km^vy K_f_g B\Zgh\bq GZqZevgbdh\\ h^ghfkh[jZgbb Fbly g_j_^dh imkdZ_l \ oh^ ]jm[mx kbem GZijbf_j hg ba^_\Z_lky gZ^ rlZ[kdZiblZghf Kg_]bj_\uf²lZsbl_]haZ[hjh^mgZmebpmb ba[b\Z_lebrvaZlhqlhkqblZ_l_]h^h\_j_gguf ebphfk\h_]hhlpZGZ\hijhkqlhhgklZg_l^_eZlv_keb=jmr_gvdZihc^_l`blvd hlpmFbly ijyfh ]h\hjbl qlh kh\_jrbl m[bckl\h b mlhqgy_l qlh m[v_l ©klZjbdZª H^gZ`^u iheguc ih^haj_gbc b kljZoZ qlh =jmr_gvdZ gZoh^blky m hlpZ hg h[_`Ze \k_ dhfgZlu \ ^hf_ b g_ gZc^y__\k_`_jbgmekygZhlpZdh]^Zlhlh[\bgbeFblx\ djZ`_^_g_]lk Gh Fbly ih^gye h[_ jmdb b \^jm] ko\Zlbe klZjbdZ aZ h[_ ihke_^gb_ dhkfu \hehk _]h mp_e_\rb_ gZ \bkdZo^_jgme _]h b k ]jhohlhf m^Zjbe h[ ihe Hg mki_e _s_ ^\Z beb ljb jZaZ m^Zjblv e_`Zs_]h dZ[emdhf ih ebpm KlZjbd ijhgabl_evgh aZklhgZe KmfZr_^rbc \_^v lu m[be_]h²djbdgmeB\Zg²LZd_fmb gZ^h²aZ^uoZykv\hkdebdgme>fbljbc²: g_m[be lZd_s_ijb^mm[blvg_mkl_j_`_l_ H^gZ`^u klhy ih^ ^hfhf hlpZ kgh\Z h[tyluc ih^haj_gbyfb qlh =jmr_gvdZ gZoh^blky a^_kvFbly[ueh[gZjm`_gkem]hc\ fhf_gldh]^Zkh[bjZekye_alvq_j_aaZ[hjFblym^Zjhf k\Zebe kem]m k gh] lhl miZe [_a khagZgby Ihkdhevdm wibe_ilhb^gu_ ebqghklb g_ [_kqm\kl\_ggu Z ebrv djZcg_ bfimevkb\gu b \ha[m^bfu lh gZf ihgylgh ]hjyq__ jZkdZygb_ FblbHg\ul_jk\hbfieZldhfdjh\vk ebpZkem]bb klZjZekyijb\_klb_]h\ qm\kl\hFh`gh gZa\Zlv fgh`_kl\h kemqZ_\ dh]^Z ihklmidb Fblb ^bdlmxlky g_ jZamfhf Z gZkljh_gbyfb \e_q_gbyfb b ^Z`_ dZijbaZfb Ex[h\v _]h lZd`_ ghkbl bfimevkb\guc oZjZdl_j <i_j\u_ ihy\ey_lky hg m =jmr_gvdb k gZf_j_gb_f ih[blv __ lZd dZd oh^yl kemob qlh hgZ b N_^hj IZ\eh\bqkh\f_klghh[^_eu\ZxljZagu_g_qbklu_^_g_`gu_^_ebrdbGh\k_\urehihbghfm lk ²Ihr_ey [blv__^Zm g_cb hklZeky=jygmeZ]jhaZm^ZjbeZqmfZaZjZabekyb aZjZ`_g ^hk_e_ b agZx qlh m` \k_ dhgq_gh qlh gbq_]h ^jm]h]h b gbdh]^Z g_ [m^_l Pbde \j_f_g kh\_jr_g<hlfh_^_eh Ho\Zq_gguc kljZklvx d =jmr_gvd_ Fbly mkljZb\Z_l ^ey g__ kmfZk[jh^gmx ibjmrdm dhlhjmxkZfhibku\Z_lke_^mxsbfh[jZahflk ² : lh]^Z \^jm] dZd gZjhqgh m f_gy \ dZjfZg_ m gbs_]h hqmlbebkv ljb lukyqb Fu hlkx^Z k g_c \ Fhdjh_ wlh ^\Z^pZlv iylv hlkx^Z \_jkl pu]Zg lm^Z ^h[ue pu]Zghd rZfiZgkdh]h \k_o fm`bdh\ lZb rZfiZgkdbf i_j_ihbe \k_o [Z[ b ^_\hd ^\bgme lukyqZfb Q_j_aljb^gy]heghkhdheLu^mfZe^hklb]q_]hkhdhelh">Z`_ba^Zebg_ihdZaZeZ Ih^h[gmxibjmrdmFblyiha`_mkljZb\Z_l_s_jZadh]^Zijboh^bld \u\h^mqlhihl_jye =jmr_gvdm gZ\k_]^Z b qlh m[be kem]m Ih hdhgqZgbb ibjmrdb hg j_rbe aZklj_eblvky gh ^h wlh]h g_ ^hoh^bl _]h Zj_klh\u\Zxl LZdh\ >fbljbc DZjZfZah\ aZiZevqb\uc g_h[ma^Zgguc hlqZygguc q_eh\_d jZ[ fbgmlguo gZkljh_gbc bgufb keh\Zfb wlh \ha[m^bfZy ebqghklv ^hoh^ysZy ^h kl_i_gb wibe_ilhb^ghc ikbohiZlbb >ey Fblb b ^ey lZdbo lbih\ \hh[s_ oZjZdl_jgh qlh _]h \uoh^db fh]ml [ulv j_amevlZlhf g_ lhevdh iZlheh]bq_kdhc jZa^jZ`bl_evghklb gh lZd`_ b ^jm]bo Znn_dlh\ gZoh^ykv \ khklhygbb Znn_dlZ hg g_ qm`^ iZl_lbdb GZijbf_j \h \j_fy bkklmie_gguo ihiulhd jZa^h[ulv g_ ijbgZ^e_`Z\rb_ _fm ljb lukyqbjm[e_cdhlhju_hgijhdmlbehgfheblky[h]mHgho\Zq_g[_amfgufkljZohfgh\k_`_ \ g_f_s_le__lgZ^_`^Zd lhfm`_hgi_j_iheg_g[_amfghcex[h\vxd =jmr_gvd_b \k_wlh baeb\Z_lky\ lZdbokeh\Zolk ²B \hl\ kZfhfwlhfihahj_y \^jm]gZqbgZx]bfgImklvy ijhdeylimklvy gbahdb ih^e gh imklv b y p_emx djZc lhc jbau \ dhlhjmx h[e_dZ_lky [h] fhc imklv y b^m \ lh `_ kZfh_ \j_fy\ke_^aZq_jlhfghy \k_` lZdbb l\hckug]hkih^bb ex[exl_[yb hsmsZxjZ^hklv [_adhlhjhcg_evayfbjmklhylvb [ulv :le_lbq_kdh_l_ehkeh`_gb_Fblbih^l\_j`^Z_l_]hwibe_ilhb^gmxdhgklblmpbx[uehg fmkdmebkl b \ g_f fh`gh [ueh m]Z^Zlv agZqbl_evgmx nbabq_kdmx kbem Iha^g__ ijyfh ]h\hjblky h _]h ©]jhfZ^ghc nbabq_kdhc kbe_ª <g_ Znn_dlh\ m Fblb ijhy\eyxlky b [eZ]hjh^gu_j_Zdpbb< khklhygbbZnn_dlZhgkihkh[_gimklblvgZ\_l_jqm`b_jm[e_cgh \ ghjfZevghfkhklhygbb_]hm`ZkZ_lfukevqlhhg²\hjHg\kyq_kdbklZjZ_lkykfulvk k_[y ihahjgh_ iylgh Hg h[eZ^Z_l mfhf eh]bdhc Gh ^hklZlhqgh \ukhdbc mjh\_gv ebqghklb g_ kfy]qZ_l iZlheh]bq_kdhc ih^\_j`_gghklb Fblb \e_q_gbyf >hklh_\kdbc kZf kljZ^Z\rbc wibe_ilbq_kdbfb ijbiZ^dZfb gZ^_ebe bfb fgh]bo i_jkhgZ`_c k\hbo ijhba\_^_gbc \ qZklghklb FurdbgZ ©B^bhlª Kf_j^ydh\Z ©;jZlvy DZjZfZah\uª FmjbgZ ©OhaycdZª G_eeb©Mgb`_ggu_b hkdhj[e_ggu_ªH^gZdhhgg_gZ^_eyeboq_jlZfbwibe_ilbq_kdbobeb wibe_ilhb^guoebqghkl_cFmjbgijZ\^Zq_eh\_d]jm[ucb `_klhdbcghkm^yih^_lZeyf^ey g_]h wibe_ilhb^ghklv g_ oZjZdl_jgZ _]h \he_\u_ ijhy\e_gby mklhcqb\u >Z`_ Dbjbeeh\Z \ ©;_kZoª m dhlhjh]h g_l ©ijbiZ^dh\ iZ^mq_cª gh dhlhjuc hlebqZ_lky miZ^hqgbq_kdbfb gZkljh_gbyfb wdklZlbq_kdh]h lbiZ g_evay hoZjZdl_jbah\Zlv dZd wibe_ilbq_kdmx ebqghklv M =hlo_evnZ\i_qZley_lwibe_ilhb^guc ikbohiZl baih\_klb ©Dmjl nhg Dhiib]_gª FZlv DmjlZ jZahjbeZkv \ k\h_f kj_^g_\_dh\hf ihf_klv_ kx`_l ih\_klb bklhjbq_kdbc h^gZdh hg fh] [u kgh\ZklZlvaZ`blhqguflZddZd`_gbekygZ\_kvfZh[_ki_q_gghc^_\mrd_;_^ZaZdexqZeZkv\ lhfqlhhg[ueg_kihkh[_gd hj]Zgbah\Zgghfmkbkl_fZlbq_kdhfmljm^mhgkehgyekyihe_kZf b em]Zf\k_[he__kdZlu\Zeky\gbaihgZdehgghciehkdhklbZ \dhg_qghfblh]_ij_\jZlbeky\ jZa[hcgbdZ aZgbfZxs_]hky ]jZ[_`Zfb b m[bckl\Zfb Hg h[eZ^Ze ijbfblb\ghc k\yavx gZ ihq\_\e_q_gbck ijbjh^hcb `b\hlgufbh^gZdhwe_f_glZjgu_ijhy\e_gbyq_eh\_qghklb_fm qm`^u Dh]^Z _]h `_gZ :]g_kkZ ihke_ k\Z^v[u i_j_klmibeZ ihjh] k\h_]h gh\h]h ^hfZ hgZ kh^jh]gmeZkv m\b^_\ \hibxsmx gbs_lm \ dhlhjhc hqmlbeZkv Gh Dmjl ^Z`_ g_ aZf_qZ_l __ j_Zdpbck ?keb dlheb[h ba qblZl_e_c ih^mfZ_l qlh Dmjl [ue hi_qZe_g l d _]h fheh^Zy `_gZ bkiulu\Z_lk_jv_agu_hiZk_gby\ hlghr_gbb[m^ms_]hk_fvblhwlhlqblZl_evhrb[_lkyDmjl gbq_]h g_ \b^_e <hh[s_lh hg h[eZ^Ze ij_\hkoh^guf aj_gb_f lZd qlh aZf_qZe b m`Z \ ijb[j_`ghf be_ b jy[qbdZ \ ]mklhc ljZ\_ b \Zev^rg_iZ \ kmohc ebkl\_ b dZ[ZgZ \ e_kghc qZs_gh\ k_j^p_q_eh\_dZhgg_\b^_ejh\ghgbq_]hDhg_qghhgg_mf_eqblZlvdgb]bghlZd `_lhqghg_mf_ehgqblZlvb fukebex^_chljZ`Zxsb_kygZebpZoZ _s_lh]hf_g__l_qlh kd\hayl \h \a]ey^_ beb dh\Zjgh lZylky \ m]hedZo jlZ rjbnl wlhl \k_]^Z hklZ\Zeky ^ey g_]h g_jZa[hjqb\ufb ^Z`_gZ^_\hqdbhggbq_]h[ug_m\b^_e G_j_^dh m wibe_ilhb^h\ mklZgZ\eb\Z_lky ]hjZa^h emqrbc dhglZdl k `b\hlgufb q_f k ex^vfb K_j^_qgh]h hlghr_gby d fZl_jb m DmjlZ g_l b \ ihfbg_ ohly \ wlhf \hafh`gh \bgh\ZlZ[ueZb hgZkZfZ`_gsbgZ\_kvfZkmoZyGhb ^jm]b__]hj_Zdpbbk\b^_l_evkl\mxlh g_^hklZld_lhgdboq_eh\_q_kdbowfhpbck >Zggh_kh[ulb_Dmjllh`_\hkijbgyejZ\gh^mrgh hg \hh[s_ g_ ijhy\eye bgl_j_kZ gb d q_fm qlh ijhbkoh^beh m g_]h \ ^hf_ gb d dhgqbg_ k\h_c fZl_jb gb d jh`^_gbx j_[_gdZ \i_qZle_gb_kha^Z\ZehkvlZdh_qlhwlb\_sb_]h\hh[s_g_dZkZxlky Dmjl\k_qZs_gZ^he]hmoh^beba^hfmk Hg kehgyeky kh k\hbfb ^jm`dZfb ih jZaguf ih^hajbl_evguf ihklhyeuf ^\hjZf bgh]^Z hgbhlijZ\eyebkvb \^hfh^gh]hbagbo_keblZf[uehq_cih`b\blvkyG_j_^dhhgbbkq_aZeb gZg_dhlhjh_\j_fy[_kke_^ghlhqgha_feyboih]ehlbeZb gbdlhg_fh][ukdZaZlv`b\ueb hgbZ l_f[he__²]^_gZoh^ylky Dmjl kh k\h_c ©ly`_ehc ihoh^dhcª [ue kZfuf ^bdbf hlqZygguf ba gbo Dh]^Z _]h ho\Zlu\Ze ijbiZ^hd ]g_\Z hg klZgh\beky g_\f_gy_fuf <hl dZd hg \_^_l k_[y k h^gbf ba qe_gh\k\h_c`_[Zg^uk =g_\ ho\Zlbe DmjlZ \ h^bg fb] dZd ieZfy ih`bjZ_l khehf_ggmx djurm hg ko\Zlbe dZf_gguc dm\rbg klhy\rbc jy^hf k gbf b k kbehc r\ujgme _]h \ mofueyxsmxky nbabhghfbxDmjlgZiZegZ[Zg^blZdZdjZatyj_gguce_\ohl_eaZ^mrblvfhsgufbjmdZfb ghlml^jm]b_[jhkbebkvbojZagbfZlv IkbobdZ DmjlZ hlf_q_gZ lbibqghc ^ey wibe_ilhb^h\ ly`_eh\_kghklvx ihwlhfm hg qZklh hdZau\Z_lky\ ijhb]jur_k Kj_^bmqZklgbdh\[Zg^ugbdlhg_fh]kjZ\gblvkynbabq_kdhckbehck Dmjlhfghg_kfhljy gZwlhgZ^gbfihklhygghih^kf_b\Zebkvhg^_eZe[hevr_^jm]boZ ihemqZef_gvr_\k_o² kmsbc\_ebdZgdhlhjh]h^jZagbebdZjebdb<h\j_fyjZa[hcgbqvbogZiZ^_gbchgi_j\ucr_e gZijhehfª_fmh^ghfm^hklZ\Zebkv\k_hl\_lgu_m^ZjuaZlhijb^_e_`_gZ]jZ[e_ggh]h_fmg_ ^hklZ\Zehkvihqlbgbq_]h ?kebwibe_ilhb^h\gbdlhg_aZ^_\Z_lhgbqZklhijhy\eyxl^h[jh^mrb_Wlhhlghkblkyb d Dmjlm ohly _]h b h[fZgu\Zeb ijb ^_e_`_ hg \k_ _s_ ]hlh\ [ue ih^_eblvky k\h_c kdm^ghc ^he_c k gm`^Zxsbfbky ex^vfb DmjlZ nhg Dhiib]_gZ fh`gh kqblZlv wibe_ilhb^guf ikbohiZlhf\ qbklhf\b^_Ghb a^_kvdhg_pih\_klbikboheh]bq_kdbg_m[_^bl_e_g\_jg__hg dZd [u jZkkqblZg g_ gZ ikboheh]bq_kdmx Z gZ ^b^Zdlbq_kdmx m[_^bl_evghklv ihke_ h^gh]h m`Zkgh]h [j_^h\h]h kgZ \ dhlhjhf aZ gbf mkljZb\Z_l [_r_gmx ih]hgx kZf q_jl Dmjl ijhkuiZ_lky kh\_jr_ggh h[gh\e_gguf q_eh\_dhf b \kdhj_ hg ba ZkhpbZevgh]h km[t_dlZ klZgh\blky ohjhrbf k_fvygbghf < wlhf fh`gh mkfhlj_lv km]m[h \hkiblZl_evgmx mklj_fe_gghklv l\hjq_kl\Z =hlo_evnZ H^gZdh d kh`Ze_gbx hg l_f kZfuf i_j_q_jdb\Z_l ikboheh]bq_kdmx p_gghklv k\hbo h[jZah\ Ihjhc _]h ihmqbl_evgZy fZg_jZ k^h[j_ggZy fhjZebabjmxs_cj_eb]bhaghklvx\ju\Z_lky\ ikboheh]bq_kdbcjbkmghddZd]jm[Zyihf_oZqlh hkh[_ggh aZf_lgh \ jhfZg_ ©>_gv]b b ^mrZª R_dkibj ljZdlm_l DhjbheZgZ \ h^ghbf_gghc ^jZf_ dZd ©kiZkbl_eygZjh^Zª DhjbheZg y\ey_lky \ha[m^bfhc ebqghklvx Bfimevkb\gZy kbeZ ih^gbfZ_l _]h ^h mjh\gy ]_jhbafZ HlebqZykv g_mkljZrbfhklvx hl\Z]hc b h]jhfghc nbabq_kdhc kbehc hg kjZ`Z_lky \k_]^Z \ i_j\uo jy^Zo mgbqlh`Z_l ex[h]h ijhlb\gbdZ Z \ j_rZxs_c [bl\_ ihqlb bkdexqbl_evgh k\hbfb mkbebyfb ^h[b\Z_lky ihdhj_gby \jZ`_kdh]h ]hjh^Z ²hg kh[kl\_gghjmqgh rlmjfm_l ]hjh^kdb_ \hjhlZ DhjbheZg \ iheghc f_j_ hkhagZ_l qlh ih[_^u ^h[beky hg h^bg hg ij_abjZ_l gZjh^ b gZjh^guo ljb[mgh\ Dh]^Z ihke_^gb_ \hafms_ggu__]hgZkf_rdZfb©aZ[bjZxlªk\hb]hehkZ[_adhlhjuo DhjbheZg g_ fh`_l [ulv ba[jZgdhgkmehfhgbkiheg_gguc]g_\ZgZqbgZ_lhkuiZlv]jm[hc[jZgvxgZjh^b _]h\h`^_c AZwlh_]hkh[bjZxlkyihdZjZlvdZdbaf_ggbdZ_fm]jhablkf_jlv>jmavyDhjbheZgZhll_kgyxl _]h\ klhjhgmb F_g_gbchl_q_kdb\hkdebpZ_lk Gh\kihfgbl_qlh\u[bjZlvkeh\Zhgg_ijbmq_g : ihlhfmbokuie_l[_ajZa[hjZ DZdhljm[bk fmdhx\i_j_f_`dm Iha\hevl_fg_ihclbaZgbf DhjbheZgjZa]g_\Zggucdjbqblk Imklvfg_hgb]jhayldhe_kh\Zgv_f Bevkf_jlvxih^dhiulZfbdhg_c Imklv^jm]gZ^jm]Z^_kylvkdZeLZji_ckdbo GZ]jhfha^ylqlh[y g_\b^_e^gy Ij_^l_fdZd[m^mk[jhr_g²\k_lZdbf`_ HklZgmkvk gbfby GZdhg_p mkihdh_gguc ^jmavyfb DhjbheZg h[_sZ_l ihke_ ^h\Zlv bo kh\_lm b ihijhkblv ijhs_gbyGhdZdlhevdhgZjh^gucljb[mggZqbgZ_laZqblu\Zlvihklmib\rmxgZg_]h`Zeh[m dZd lhevdh hg \ j_qb ijb[_]Z_l d h[hagZq_gbx ©baf_ggbd gZ jh^Zª ]g_\ DhjbheZgZ \gh\v \kdbiZ_l DhjbheZg Bki_i_ebgZjh^h ieZfyZ^Z Baf_ggbd"Y"Ljb[mglude_\_lgbd Dh]^Z[ ]g_a^behkvp_euo^\Z^pZlvlukyq Kf_jl_c\ l\hbo]eZaZodh]^Z[ aZ`Ze Lu^\Z^pZlvfbeebhgh\bo\ jmdZo B klhevdh`_gZe`b\hfyaud_ LZbehkvm l_[ylhb lh]^Z[u KdZaZey ©E`_rvª DhjbheZgZba]hgyxlbaJbfZlh]^Zhgh[t_^bgy_lkykhk\hbf]eZ\guf\jZ]hfk dhlhjuf kZf `_ ^h wlh]h kjZ`Zekyg_ gZ`bagv Z gZ kf_jlv Wlhl rZ] ke_^m_l jZkp_gb\Zlv dZd djZcg_ g_h[^mfZgguc b[h kh\f_klgh k [u\rbf \jZ]hf hg aZfurey_l mgbqlh`blv ]hjh^ Jbf \ dhlhjhf gZoh^ylky _]h ^jmavy _]h fZlvª `_gZ b j_[_ghd AZdebgZ_fuc fZl_jvx DhjbheZg aZdexqZ_l \k_ `_ fbj k Jbfhf gh ihke_ wlh]h hg lZd `_ g_h[^mfZggh kZf b^_l gZ\klj_qm kf_jlb hg hlijZ\ey_lky \ ]hjh^ \jZ]h\ l\_j^h \_jy qlh b \jZ]b kjZam `_ aZdexqZl fbjguc ^h]h\hj k Jbfhf G_ [m^_f ^bkdmlbjh\Zlv k R_dkibjhf \b^bfh \ ^j_\gb_ \j_f_gZ h^ghc bfimevkb\ghckbeu[ueh^hklZlhqghqlh[uihjh^blv]_jh_\Ihg_h[udgh\_gghcnbabq_kdhc kbe_ ih g_ihk_^eb\hfm h[jZam `bagb b fgh`_kl\m ih^\b]h\ fh`gh [ueh [u b e_]_g^Zjgh]h =_jZdeZ jZkp_gb\Zlv dZd wibe_ilhb^Z B h[jZa kha^Z\Z_fuc Khnhdehf \ ©LjZobgygdZoª \ kZfhf ^_e_ fgh]bf gZihfbgZ_l gZf wibe_ilhb^gh]h ikbohiZlZ >_ygbjZ `_gZ =_jZdeZ `Zem_lky\ gZqZe_^jZfu ²Kh_^bgb\rbkvk =_jZdehfy hdZaZeZkvkqZkleb\hcba[jZggbp_cghagZ_lebdlhgb[m^v h lhf qlh f_gy [_a dhgpZ ij_ke_^m_l kljZo aZ fm`Z" ?keb ebrv \q_jZ \_q_jhf dZdh_gb[m^v kh[ulb_ dZaZehkv k\_`bf ]hj_f lh gug_ hgh \ul_kg_gh m`_ gh\uf [he__ k\_`bf b [he__ ly]hklguf GZ ^_l_c gZ ieh^ gZr_]h [jZdZ hg kfhljbl dZd dj_klvygbg gZ hl^Ze_gg_crb_ mqZkldb k\h_c a_feb lhevdh \ i_jbh^ ihk_\Z b `Zl\u hg db^Z_l gZ gbo \ahj b lh ebrv jZa @bagvfh_]hfm`Z\_qgZy]hgdZ²klhbl_fm\hclb\ ^\_jvk\h_]h^hfZdZdhfm`_\uoh^blba g__hlijZ\eyykvhdZau\Zlvdhfmlhhq_j_^gmxmkem]mBgZdhg_pk_cqZkdh]^ZkjhdhiZkguo bkiulZgbcaZdhgq_gfh_[_kihdhckl\h\hajZklZ_l_s_\hfgh]hjZaB[hdhevhgm[beBnblZlh fufh`_fkqblZlvk_[yba]gZggufbhlkx^Z <ke_^aZhiZk_gbyfb>_ygbjuijboh^blb ljZ]bq_kdZyjZa\yadZ=_jZde\ex[beky\ Chem ^hqv dhjhey W\jblZ Dhjhev hldZau\Z_l _fm \ jmd_ ^hq_jb b =_jZde jZajmrZ_l _]h ]hjh^ m[b\Z_l kZfh]h W\jblZ b m\habl Chem ebrb\rmxky hl i_qZeb ^ZjZ j_qb k kh[hc qlh[u ihk_eblv__ \^hf_\ dZq_kl\_\lhjhc`_gu>_ygbjZ`_eZykhojZgblvex[h\vfm`ZihkueZ_l _fmh^_`^mh[eZ^Zxsmxydh[u^Zjhfex[h\guoqZjgZkZfhf`_^_e_q_eh\_dl_eZdhlhjh]h wlZh^_`^Zdhkg_lkyk]hjZ_l>_ygbjZg_agZ_lh[wlhfIhqm\kl\h\Z\kljZrgh_^_ckl\b_ldZgb gZk\h_fl_e_=_jZdeo\ZlZ_laZgh]m^hklZ\b\r_]hgZjy^]hgpZdklZlbgb\ q_fg_ih\bggh]h b r\ujy_l _]h \ fhj_jZafha`b\ _]h q_j_i h kdZevgu_ jbnu MfbjZxsbc =_jZde ih\_e_\Z_l k\h_fmkugm`_gblvkygZChe_ohlykugb ijhlb\blkywlhfmbam\Z`_gbyd fZl_jbF_`^ml_f >_ygbjZ \ hlqZygbb qlh h^_`^Z hdZaZeZkv hjm^b_f kf_jlb dhgqZ_l `bagv kZfhm[bckl\hf BlZd \ khnhdeh\kdhf =_jZde_ wibe_ilhb^gh_ [_kihdhckl\h lj_\h]Z k\yau\Zxlky k wibe_ilhb^ghc[_kqm\kl\_gghklvxb `_klhdhklvx< ^jZf_?\jbib^Z©=_jZdeªZ\lhjb^_l_s_ ^Zevr_FumagZ_fqlh=_jZde\_jgm\rbkv^hfhc\ ijbiZ^d_[_amfbym[b\Z_l`_gmb ^_l_c =_jZdeih]jm`Z_lky\ khgijhkgm\rbkv`_gbq_]hg_ihfgblh kh\_jr_gghfaeh^_ygbbHgk m`Zkhf magZ_l h lhf qlh bf kh\_jr_gh IjbiZ^hd [_amfby =_jZdeZ hq_gv gZihfbgZ_l wibe_ilbq_kdh_kmf_j_qgh_khklhygb_khagZgbyIkbobZljh\lZdhcih\hjhl^he`_gkdehgblvd fukebqlh=_jZdeZfh`ghhoZjZdl_jbah\Zlvg_lhevdhdZdwibe_ilhb^gh]hikbohiZlZghb dZd wibe_ilbdZH^gZdhke_^m_lmq_klvqlhkZf?\jbib^ljZdlm_l_]hihklmihdbgZq_[_amfb_[ueh gbkihkeZgh=_jZdem[h]bg_c=_jhcdhlhjZyg_gZ\b^_eZ=_jZdeZdZdg_aZdhgghjh`^_ggh]hkugZ k\h_]hkmijm]ZA_\kZDZdfum`_agZ_fwibe_ilhb^gu_ebqghklb\ ^_lkl\_kdehggud ih[_]Zf ba ^hfm dhlhju_ qZs_ \k_]h ij_^klZ\eyxlky g_fhlb\bjh\Zggufb Jha_]]_j hibku\Z_l \ ih\_klb ©Ydh[ ihke_^gbcª fZevqbdZ dhlhjuc g_kfhljy gZ \k_ \hkiblZl_evgu_ f_ju kbkl_fZlbq_kdbm[_]Zeba^hfm©Gmqlh`²qblZ_ffu²\_^vYd_ex\k_]he_lDh]^Z`_ b m[_]Zlv dZd gb \ wlhf \hajZkl_" : _keb hg m`_ \ lZdhf \hajZkl_ g_ m[_`bl lh dh]^Z `_"ª H^gZdh ke_^m_l hlf_lblv kijZ\_^eb\hklb jZ^b qlh Yd_ev wlh ^bly k oZjZdl_jhf [jh^y]b m[_]Zeg_lhevdh\ e_lghb jZgvr_k K\hbfb hkh[ufb imlyfb fZevqbd r_e m`_ k jZgg_]h ^_lkl\Z g_h^ghdjZl gh moh^be k qm`bfb ex^vfb Z [m^mqb iylb e_l hl jh^m ijbkh_^bgbeky \ ]hjh^d_ K d ]jmii_ dhqmxsbo pu]Zg Dh]^Z hl_p \ha\jZsZe _]h ^hfhc b aZibjZe lh hg ]g_\gh mijyfh ijhl_klh\Ze b \hafmsZeky qlh dZd gZf ba\_klgh lbibqgh b ^ey wibe_ilhb^h\^_l_c b ^ey wibe_ilhb^h\ \ajhkeuo<ijhq_fmihjkl\h\Zgb_Yd_eyijh^he`Zehkvg_kdhevdh^hevr_q_fm wibe_ilhb^h\ AZklj_\Zxs_\ha[m^bfu_ebqghklb Hkh[mx hiZkghklv lZbl \ k_[_ dZd m`_ mdZau\Zehkv dhf[bgZpby \ha[m^bfhklb b aZklj_\Zgby K ikboheh]bq_kdhc lhqdb aj_gby \_kvfZ ijbf_qZl_e_g m[bcpZ h[t_^bgyxsbc \ k_[_ wlb q_jlu ebqghklb hibkZgguc m >hklh_\kdh]h Fu bf__f \ \b^m Jh]h`bgZ ba jhfZgZ ©B^bhlª KgZqZeZ qblZl_ev magZ_l h g_mf_gbb Jh]h`bgZ \eZ^_lv kh[hc Hlkmlkl\b_ dhgljhey gZ^ k\hbfb ihklmidZfb bgh]^Z ^hklb]Z_l m Jh]h`bgZ lZdbo fZkrlZ[h\ qlh fh`gh kf_eh ]h\hjblvh[wibe_ilhb^ghcikbohiZlbbHgijbk\Zb\Z_l^_gv]bhlpZqlh[udmiblvk_jv]b^ey GZklZkvbNbebiih\gu\ dhlhjmx\ex[bekyBa[bluchlphf^hihemkf_jlbhg[_`blba^hfmb ijhfZlu\Z_l gZoh^ysmxky m g_]h kmffm Ij_ke_^my h^gm p_ev ² ihdhjblv GZklZkvx Nbebiih\gm ^h[blvky __ \aZbfghklb hg kdheZqb\Z_l \hdjm] k_[y rZcdm hlqZygguo fheh^qbdh\ ijhgbdZ_l \ d\Zjlbjm khi_jgbdZ b a^_kv mkljZb\Z_l ^_[hr < khklhygbb ^bdh]h \ha[m`^_gbyhgh[_sZ_l^ZlvGZklZkv_Nbebiih\g_ jm[e_c Iha^g__ hg \ kZfhf ^_e_ ijbghkbl wlm kmffm \ kp_g_ `_ dhlhjZy ijb wlhf jZau]ju\Z_lky hkh[_ggh yjdh ijhy\ey_lky _]hg_k^_j`Zgghklvihegh_hlkmlkl\b_kZfhh[eZ^ZgbyRZcdZ_]h[mckl\m_lZ kZfhgr\ujy_l \ ebph fheh^hc `_gsbg_ jm[e_c lhqgh ihdmiZy __ aZ wlb ^_gv]b Dh]^Z ihke_ ^ebl_evguodhe_[ZgbchgZdZd[m^lhj_rZ_lkh_^bgblvkyk gbfhg\g_k_[yhljZ^hklbk ²?^_f²aZj_\_eJh]h`bgqmlvg_\ bkklmie_gbbhljZ^hklb²Wc\udjmlhc\bgZ Mo²IjbiZkZc\bgZy iblv[m^m: fmaudZ[m^_l"²;m^_l[m^_lG_ih^oh^b²aZ\hibe Jh]h`bg\ bkklmie_gbbm\b^yqlh>Zjvy:e_dk__\gZih^oh^bld GZklZkv_Nbebiih\g_²Fhy <k_fh_Dhjhe_\ZDhg_pHghljZ^hklbaZ^uoZeky <kdhj_ h^gZdh fu m[_`^Z_fky qlh h[tykgblv ih\_^_gb_ Jh]h`bgZ h^ghc ebrv wibe_ilhb^ghc \ha[m^bfhklvx g_\hafh`gh DjZcgyy gZklhcqb\hklv mihjkl\h k dhlhjuf hg ^hfh]Z_lky GZklZkvb Nbebiih\gu k\b^_l_evkl\mxl h iZjZghbq_kdbo q_jlZo ebqghklb A^_kv gm`gh h]h\hjblvky qlh >hklh_\kdbc ij_^eZ]Z_l \ jhfZg_ lZdh_ jZa\blb_ kx`_lZ dhlhjh_ m kZfh]h ghjfZevgh]h b g_aZf_lgh]h q_eh\_dZ fh`_l \ua\Zlv ]em[hqZcrb_ Znn_dlb\gu_ ihljyk_gbyGZklZkvyNbebiih\gZg_ex[blJh]h`bgZghgZijhly`_gbbjhfZgZg_h^ghdjZlgh ^_eZ_lrZ]bgZ\klj_qm_]h^hfh]ZgbyfHgZaZy\ey_lqlh\ [eb`Zcr__\j_fy]hlh\Z\uclbaZ g_]h aZfm` gh kgh\Z b kgh\Z hlklmiZ_l bgh]^Z kiZkZykv[_]kl\hfhl g_]h d dgyax Furdbgm Jh]h`bgZihklhygghrZlZ_lhlgZ^_`^ud g_\_jbxhgbkiulu\Z_lly]hklgmxj_\ghklv\f_kl_ k j_\ghklvxjZkl_lb _]hex[h\v>hklh_\kdbclZdbfh[jZahfbah[jZabejZa\blb_g_gZ\bklb ex[\b\ ikboheh]bq_kdhfieZg_Gh_keb[u^eyJh]h`bgZg_[ueboZjZdl_jguiZjZghbq_kdb_ j_Zdpbb lh wlb Znn_dlu g_ ijbh[j_eb [u klhev jhdh\h]h iZ]m[gh]h oZjZdl_jZ M kZfh]h >hklh_\kdh]h gZoh^bf mdZaZgby gZ lh qlh gZlmjZ Jh]h`bgZ aZdexqZeZ \ k_[_ iZjZghbq_kdh_ gZqZeh qlh[ueh oZjZdl_jgh b ^ey _]h hlpZ Dgyav Furdbg h^gZ`^u ^Z`_ kjZ\gb\Z_l hlpZ k kughfk ²: fg_gZfukevijbrehqlh_keb[ug_[uehk lh[hcwlhcgZiZklbg_ijbdexqbeZkv[u wlZex[h\vlZdluih`Zemclhqv\lhqvdZdl\hchl_p[uklZe^Zb \\_kvfZkdhjhf\j_f_gb AZk_e [u fheqZ h^bg \ wlhf ^hf_ k `_ghc ihkemrghx b [_kkeh\_kghx k j_^dbf b kljh]bf keh\hf gb h^ghfm q_eh\_dm g_ \_jy ^Z b g_ gm`^Zykv \ wlhf kh\k_f b lhevdh ^_gv]b fheqZ kmfjZqgh gZ`b\Zy >Z fgh]hfgh]h qlh klZju_ [u dgb]b dh]^Z iho\Zebe ^Z ^\mi_jklguf keh`_gb_faZbgl_j_kh\Zeky^Zb lhjZa\_d klZjhklb : \kdhj_ihke_wlh]hke_^mxlkeh\Zdhlhju_gZ\h^ylgZfukevqlhiZjZghbq_kdbfq_jlZf Jh]h`bgZdgyavijb^Z_l_s_[hevr__agZq_gb_q_fwibe_ilhb^gufk ² Lu \k_ wlh [Zeh\kl\h l_i_j_rg__ kdhjh [u b [jhkbe : lZd dZd lu kh\k_f g_h[jZah\Zggucq_eh\_dlhb klZe[u^_gv]bdhiblvb k_e[udZdhl_p\ wlhf^hf_khk\hbfb kdhipZfb ih`Zemc [u b kZf \ bo \_jm ih^ dhg_p i_j_r_e b m`_ lZd [u lu k\hb ^_gv]b ihex[beqlhb g_^\ZfbeebhgZZ ih`Zemc[u^_kylvkdhibe^Zb gZf_rdZok\hbok ]heh^m[u b ihf_jihlhfmm l_[y\h\k_fkljZklv\k_lu^hkljZklb^h\h^brv < wlhcoZjZdl_jbklbd_jZkdjulZiZjZghbq_kdZyaZklj_\Z_fhklvw]hbklbq_kdbomklj_fe_gbc Hq_gv ]em[hdZ g_gZ\bklv Jh]h`bgZ d Furdbgm ^h[jhk_j^_qgh_ hlghr_gb_ dgyay kihkh[gh ebrv\j_f_gghijb]emrblvwlm g_gZ\bklv Jh]h`bg ij_ke_^m_l _]h \g_aZigh ihy\eyykv i_j_^ gbfb m]jh`Zxs_mklj_feyygZg_]h\a]ey^k\hboq_jguo]eZaHgh[tylfukeyfbh[m[bckl\_b ihklhyggh ^_j`bl gZ]hlh\_ gh` ij_^gZagZq_gguc ^ey jZkijZ\u g_ lh k dgya_f g_ lh k GZklZkv_cNbebiih\ghcH^gZ`^uhg^Z`_aZghkblgh`gZ^FurdbgufG_gZ\bklvd GZklZkv_ Nbebiih\g_ ^hklb]Z_l ih^h[ghc `_ kbeu ohly a^_kv hgZ khq_lZ_lky k h]jhfghc ex[h\vx < dhg_qghfblh]_hgm[b\Z_lex[bfmx`_gsbgmH^gZebrvwibe_ilhb^gZy\ha[m^bfhklvdZdb kZf ih k_[_ iZjZghbq_kdbc Znn_dl _^\Z eb ijb\_eZ [u d m[bckl\m Lhevdh dhf[bgZpby wlbo hkh[_gghkl_cebqghklbikboheh]bq_kdbihke_^h\Zl_evghijb\h^bld kh\_jr_gbxij_klmie_gby IZjZghbq_kdbcZnn_dl\ wlhfkemqZ_gZr_ejZaj_r_gb_\ wibe_ilhb^ghca\_jkdhc`_klhdhklb Lj_\h`gu_[hyaeb\u_ebqghklb Kj_^bbg^b\b^mZevghkl_coZjZdl_jbamxsbokylj_\h`ghklvxy hibkZe]hkih^bgZIZjZgZ ba gh\_eeu FhiZkkZgZ Dh]^Z \klj_qZ_f ihklhyggmx \ agZqbl_evghc kl_i_gb lj_\h`ghklv dhlhjmx g_evay p_ebdhf h[tykgblv kihkh[kl\mxsbfb h[klhyl_evkl\Zfb lh hgZ fh`_l jZkkfZljb\Zlvky dZd Zdp_glmZpby ebqghklb Wlh dZq_kl\h qZklh f_rZ_l q_eh\_dm gZclb k\h_ f_klh \ `bagb LZdh\ fZkl_j SmdZ ba h^ghbf_gghc gh\_eeu =_[[_ey G_kfhljy gZ k\h_ Zle_lbq_kdh_l_ehkeh`_gb_hg[hblkyg_lhevdhk\h_c\eZklghc`_gughb fgh`_kl\Zex^_ck dhlhjufb_]hklZedb\Z_l`bagvHgiha\hey_lba^_\ZlvkygZ^kh[hcebpZfdm^Z[he__keZ[uf nbabq_kdb q_f hg kZf Z _keb g_ fh`_l kiZklbkv hl gbo [_]kl\hf lh l_jibl b bklyaZgby Hl gZ]eh]hih^fZkl_jvyhgbs_laZsblum k\h_c`_guDh]^Zh[sbgZ_fmihjmqZ_lih^\_j]gmlv djblbd_ g_m^Zqgmx ijhih\_^v k\ys_gghkem`bl_ey hg \_kv ^jh`bl b g_ fh`_l ijhbag_klb gb keh\Z\ blh]_\k_kqblZxl_]hivygufHgkljZrgh[hblkykfhlj_lvgZdhjfe_gb_>bdboa\_j_c \ pbjd_Dh]^Z[jZlgZkbevgh\lZedb\Z_l_]h\ madbcijhoh^f_`^mde_ldZfbhgg_agZ_lqlh _fm ^_eZlv aZdjulv eb ]eZaZ qlh[u g_ \b^_lv m`Zkguo fhj^ beb \gbfZl_evgh ke_^blv aZ de_ldZfb b ^_j`Zlvky hl a\_j_c ih^Zevr_ ;jZl \hh[s_ ihklhyggh gZ^ gbf ih^kf_b\Z_lky b h^gZ`^uSmdZ[m^mqbivyguf^Z_l_fmihs_qbgmBkim]Z\rbkvk\h_ckf_ehklbhgm^bjZ_l hl[jZlZnbabq_kdbkeZ[h]hq_eh\_dZihiZ^Z_lg_\ lm^\_jv_]hk[b\Zxlk gh] ² Ohaybg b Zj_g^Zlhj Gbjgo_clev ohl_eb f_gy ih^gylv gh y khijhlb\ eyeky dZd [_r_gucb g_bamijyfkl\ZZ lhevdhihlhfmqlhNbgd_ev[jZlkqblZef_gyf_jl\uflZdqlh _keb[uy \klZehgfh][ukh\k_f\uclbbak_[y Lj_\h`ghklv Smdb [_amkeh\gh gZdeZ^u\Z_l hli_qZlhd gZ \kx _]h `bagv \ j_amevlZl_ \hagbdZ_l Zdp_glmZpby ebqghklb DZd fu m`_ \b^_eb ba hibkZgbc ijb\_^_gguo \ , qZklb ex^bfbr_gbª qZklh hl ijbjh^u lj_\h`gu [hyaeb\u qlh mkm]m[ey_lky baaZ ij_ke_^h\Zgby hdjm`Zxsbo < om^h`_kl\_gghc ebl_jZlmj_ hibkZgh g_fZeh ©fbr_g_cª gh h[uqgh ibkZl_eb gbq_]h g_ ]h\hjyl h lhf dZd jZa\b\ZeZkv lZdZy ihklhyggZy [he_ag_ggZy im]eb\hklv =hlnjb^ D_ee_j hibku\Z_l \ ©A_e_ghf =_gjbo_ª h^gh]h mqbl_ey dhlhjh]h ^h lZdhc kl_i_gb fmqbeb mq_gbdb qlh hg \ugm`^_g [ue ihdbgmlv rdhem qlh[u g_ ih]b[gmlv hdhgqZl_evgh Hibku\Z_lky_]hih\_^_gb_k mq_gbdZfb²djZcg_i_^Z]h]bq_kdbg_mf_eh_ghb ih^jh[ghklbh ebqghklb wlh]h mqbl_ey qblZl_ex g_ khh[sZxlky LhfZk FZgg lZd`_ hibku\Z_l lbibqgmx ©fbr_gvª \ ebp_ Lh[bZkZ Fbg^_jgbd_ey ba h^ghbf_gghc gh\_eeu M qblZl_ey kha^Z_lky \i_qZle_gb_ qlh bf_ggh im]eb\hklv g_ ^Z_l wlhfm i_jkhgZ`m h[hjhgylvky hl ^_l_c dhlhju_ mexexdZy[_]ml\ke_^aZgbfihmebp_IhkdhevdmLh[bZkhq_gv`Zehkleb\lhfh`gh[ueh[u ij_^iheZ]Zlv\ g_fb wfhlb\gmxebqghklv<ijhq_fdZjlbgZ\ ^Zgghcgh\_ee_\hh[s_g_ykgZ lZdLh[bZkkZfjZgblk\hxkh[Zdm^eylh]hqlh[ubf_lv\hafh`ghklvaZg_xmoZ`b\Zlv< wlhf fu klZedb\Z_fky k gh\hc ikboheh]bq_kdhc q_jlhc g_ bf_xs_c gbq_]h h[s_]h gb k [hyaeb\hklvx gb k wfhlb\ghklvx M >hklh_\kdh]h \ ©B^bhl_ª lZd`_ \u\_^_gZ ih^h[gZy ©fbr_gvª Dgyav Furdbg jZkkdZau\Z_l h qZohlhqghc ^_\mrd_ dhlhjmx kh[eZagbe lhj]h\uc kem`Zsbc ba njZgpmah\ b \kdhj_ [jhkbe Ihke_ wlh]h gZ^ g_x klZeb ba^_\Zlvky \k_ hdjm`Zxsb_ ² g_ lhevdh \ajhkeu_ gh b ^_lb dhlhju_ ij_ke_^h\Zeb __ \udjbdb\Zy aeu_ gZkf_reb\u_keh\ZEbrvihke_lh]hdZdFurdbgkmf_e\hclb\ ^h\_jb_d ^_lyfb ^hdZaZlv bfdZd]Z^dhih^h[gh_ih\_^_gb_fmq_gby^_\mrdbdhgqbebkvGhh[bklhjbbnhjfbjh\Zgby wlhcebqghklbb a^_kvgbq_]hg_kdZaZgh Lj_\h`ghaZklj_\Zxsb_ebqghklb Bgl_j_kgZdhf[bgZpbyebqghklbk ij_h[eZ^Zgb_flj_\h`ghklbb ebqghklbaZklj_\Zxs_c `Z`^ms_c kZfhml\_j`^_gby Ijb wlhf g_ba[_`gh \hagbdZ_l ^bk]Zjfhgby ebqghklb K lZdhc dhf[bgZpb_c fu \klj_qZ_fky m Bh]ZgZ ba ih\_klb ©Kug kem`Zgdbª Kljbg^[_j]Z < khhl\_lkl\bbk ih^aZ]heh\dhfwlh]hijhba\_^_gby©BklhjbyjZa\blbyh^ghc^mrbªa^_kvfgh]h khh[sZ_lkyh ^mr_\guoi_j_`b\Zgbyog_dh_]hq_eh\_dZdhlhjuc\hfgh]hfgZihfbgZ_lkZfh]h Kljbg^[_j]Z lZd dZd i_j_^ gZfb nZdlbq_kdb _]h Z\lh[bh]jZnby GZqbgZy k ^_lkdh]h \hajZklZ Ch]Zg\k_\j_fyh[tylkljZohf GZ lj_lv_f wlZ`_ ^hoh^gh]h ^hfZ nhjfbjh\Zehkv dZd kZfhkhagZgb_ lZd b khagZgb_ h[yaZgghkl_c m kugZ ijh^Z\pZ b kem`Zgdb I_j\ufb _]h hsms_gbyfb dZd hg \kihfbgZ_l iha^g__[uebkljZob ]heh^Hg[hyekyl_fghluih[h_\[hyekyk^_eZlvqlhgb[m^vg_lZdHg [hyekymiZklvaZ^_lvaZqlhgb[m^vb klhylvdhfmgb[m^vgZimlbHg[hyekydmeZdh\[jZlv_\ gZdZaZgbc]hjgbqguo[jZgb[Z[mrdbjha]bfZl_jbb iZedbhlpZHg^jh`Zei_j_^^_gsbdhf ]_g_jZeZklhy\rbf\ hkljh\_johcdZkd_b kkZ[e_cgZ[hdm\ \hjhlZob i_j_^^\hjgbdhfb]jZy m fmkhjgh]h ysbdZ Hg [hyeky b kh\_lgbdZ xklbpbb l d wlh [ue ^hfhohaybg GZ^ gbf gZoh^bebkv[he__ kbevgu_ ex^b k ijb\be_]byfb gZqbgZyhl \hajZklguo ijb\be_]bc[jZlv_\ \eZklbhlpZdZd\k_fh]ms_]hkm^vbgh\k_`__s_\ur_wlh]hkm^vb klhye ^\hjgbd ljykrbc _]haZqm[b ]jhab\rbcohaybghf BaaZihklhyggh]hkljZoZrdheZklZeZ^eyBh]ZgZihklhygguffmq_gb_f HgkqblZei_j\u_]h^umq_gvy\ rdhe_g_rdhehc`bagbZ rdhehcZ^ZMqbl_eydZaZehkv lhevdh ^ey lh]h b kms_kl\h\Zeb qlh[u l_jaZlv mq_gbdh\ Z g_ \hkiblu\Zlv bo \hh[s_ \ky `bagv dZaZehkv ^Z\beZ gZ q_eh\_dZ dZd ly]hklguc kljZrguc dhrfZj b[h mqb g_ mqb mjhdb j_amevlZl \k_ jZ\gh [ue h^bg Bgh]^Z `bagv dZaZeZkv _fm f_klhf aZdexq_gby ]^_ ex^b hl[u\Zeb kjhd gZdZaZgby aZ ij_klmie_gby kh\_jr_ggu_ _s_ ^h bo jh`^_gby <hl ihq_fm hg \k_]^Zqm\kl\h\Zeqlhkh\_klvm g_]hg_qbklZ IjhqblZ\ qlh hgZgbaf \_^_l ² lZdb_ ij_^klZ\e_gby ]hkih^kl\h\Zeb \ lh \j_fy ² d iheghfmnbabq_kdhfmb ^moh\ghfmjZajmr_gbxfZevqbdbkiulu\Zeg_hibkm_fuckljZo H^gZ`^ughqvxhgijhkgmekyKlZjrb_[jZlvy_s_g_kiZebb ]h\hjbebh lhckZfhcl_f_ HgkijylZe]heh\mih^h^_yehaZ`ZeiZevpZfbmrbh^gZdhkeurZe\k_;jZlvyjZkkdZau\Zebh dZdbolhiZgkbhgZlZo\ IZjb`_]^_fZevqbdh\ijb\yau\Zxl\_j_\dZfbd djh\Zlbghwlbf_ju g_ihfh]Zx]Ih]ZgZih^fu\Zeh\kdhqblvb \h\k_fijbagZlvkyfheyh ihfhsbGhhg[hyeky mkeurZlv ih^l\_j`^_gb_ kh[kl\_ggh]h kf_jlgh]h ijb]h\hjZ b kfheqZe L_i_jv hklZ\Zehkv lhevdh fheblvky g_ [h]m Z Bbkmkm Ojbklm KljZrgh_ keh\h hg \b^_e \_a^_ gZibkZggh_ q_jgufbi_qZlgufb[md\ZfbgZkl_gZo^hfh\gZh[hyok\h_cdhfgZlu: \ysbd_ibkvf_ggh]h klheZ\ dhlhjhfe_`ZeZdgb]ZgZoh^beZkv]bevhlbgZDZdlhevdh[jZlhldju\ZeysbdBh]ZgZ ho\Zlu\ZeZ^jh`vhg\u[_]ZebadhfgZluqZkZfbhgijhklZb\Zei_j_^a_jdZehfbamqZyk_[y \\Zebebkv eb m`_ ]eZaZ \uiZeb eb \hehku HibkZgby wlbo kljZoh\ qZklh gZ\h^yl gZ fukev h ^jm]hc klhjhg_ ebqghklb ]_jhy h klhjhg_ iZjZghbq_kdhc b[h Ch]Zg ² Kljbg^[_j] ijb^_j`b\Z_lky fg_gby qlh ij_h[eZ^Zgb_ lj_\h`ghklb \ ikbobd_ fZevqbdZ y\eyehkv ke_^kl\b_fg_ijZ\bevgh]h\hkiblZgby`_klhdhklbmqbl_e_caeh[uhdjm`Zxsboex^_c Hg ih^l\_j`^Z_l wlh fg_gb_ beexkljbjh\Zgb_f `_klhdhkl_c dhlhjuf kZf ih^\_j]Zeky h^gZdhijbf_jghlhfm`_ih^\_j]Zebkvb ^jm]b_^_lb\ lhfqbke__]hkh[kl\_ggu_[jZlvygh ih^h[gh]hke_^Z\ bo^mr_wlhg_hklZ\behKe_^m_liheZ]Zlvqlhij_^ihkuedbkljZoh\[ueb aZeh`_gu \ ^Zgghc ebqghklb Q_jlu aZklj_\Zxs_c ebqghklb qm\kl\bl_evghklv d h[b^Zf [he_ag_ggh_kZfhex[b_oZjZdl_jgu^eyCh]ZgZ ?keb ijb ieZ\Zgvb gbdlh aZ gbf g_ gZ[ex^Ze hg k [hevrhc hiZkdhc \oh^be \ \h^m Gh klhbeh dhfmgb[m^v [ulv ih[ebahklb dZd hg \a[bjZeky gZ djurm dmiZevgb b kehfy ]heh\m iju]Ze hllm^Z \ ha_jh Hg dhg_qgh agZe k\hb \_qgu_ hiZk_gby b ijh[h\Ze lZdbf iml_f bo aZlmr_\Zlv LZdbfh[jZahfjZa^mlh_kZfhex[b_ihfh]ZehfZevqbdmij_h^he_\ZlvkljZo>Ze__qblZ_f H^gZ`^u ijh\_ljb\Zeb p_jdh\v >_lb \[_`Zeb lm^Z b klZeb rZeblv hgb ihe_aeb ©rlmjfh\Zlvª ZelZjv H^gZdh Bh]Zg ih^klj_dZ_fuc lh\ZjbsZfb gZ ©[hevrb_ ^_eZª ihr_e ^Zevr_hg\ahr_egZp_jdh\gmxdZn_^jmb gZqZeqblZlvijhih\_^bb pblbjh\Zlv[b[ebx Qm\kl\bl_evghklv d h[b^Zf b mgb`_gbyf \ueb\ZeZkv bgh]^Z \ [mglZjkdh_ ih\_^_gb_ \ rdhe_ Ijhl_kl Ch]ZgZ ijhlb\ mq_gby \ rdhe_ klZgh\beky \k_ kbevg__ >hfZ hg qblZe \k_\hafh`gu_ dgb]b gh mjhdh\ kh\k_f g_ ^_eZe Ihkl_i_ggh \hajZklZeh b _]h mijyfkl\h [u\Zeh mqbl_ev \uau\Z_l _]hhl\_qZlv Z hg mihjgh fheqbl lhqgh g_ agZ_l mjhdZ ohly b [ue ih^]hlh\e_g Ijbf_jgh\ wlh`_\j_fyCh]Zg\hkklZ_lijhlb\hlpZ ?]h hlghr_gb_ d hlpm klZgh\blky \k_ oheh^g__ L_i_jv hg bs_l \ q_f ijhy\ey_lky m]g_l_gb_ kugh\_c hlphf b ihklhyggh iulZ_lky mkljZb\Zlv ©fyl_`ª g_kfhljy gZ k\hx keZ[hklv Hg\hkklZ_lb ijhlb\k_f_cguoljZ^bpbc <k_ moh^yl \ p_jdh\v gh Ch]Zg hklZ_lky ^hfZ ?s_ ^h \ha\jZs_gby hlpZ hg h[ty\ey_l ijbr_^rbf m`_ ^hfhc [jZlvyf b l_ldZf qlh gbdlh g_ kf__l gZkbeh\Zlv qvx [u lh gb [ueh kh\_klv\hlihq_fmhgg_ihc^_l[hevr_\ p_jdh\v Rdhevgu_ aZfZrdb Ch]ZgZ iha`_ ih\lhjyxlky \ mgb\_jkbl_l_ ]^_ hg lZd`_ \k_ \j_fy ieu\_l ijhlb\ l_q_gby GZijbf_j wdaZf_guhg k^Z_l gZ k\hc fZg_j \hij_db ijbgyluf a^_kv ijZ\beZf < fZ_ ^he`_g [ue khklhylvky wdaZf_g ih wkl_lbd_ <hij_db ijZ\beZf ch]Zg hlhkeZe dmjkh\h_ khqbg_gb_ ihqlhc \ MikZem ijhky \ ibkvf_ gZagZqblv _fm kjhd mklgh]h wdaZf_gZ Ih^h[ghwlhfmhg\_^_lk_[yb gZ^jm]hfwdaZf_g_aZy\eyyqlhwlh\hijhkijbgpbiZb q_klb < _]h ijhl_kl_ ijhlb\ hdjm`Zxsbo ijhy\ey_lky gZjy^m k [he_ag_gghc h[b^qb\hklvx lZd`_ b ^jm]Zy q_jlZ iZjZghbq_kdhc ebqghklb ² [hevgh_ kZfhex[b_ jZa^mlh_ qm\kl\h kh[kl\_ggh]h ^hklhbgkl\Z Dh]^Z hg `Zem_lky [jZlvyf qlh _]h mfure_ggh h[\bgbeb \ [_^ghklb`_eZymgbablvl_hl\_qZxl©: lug_[m^vlZdbf\ukhdhf_jgufªCh]Zg]^_lhevdh fh`gh \hkklZ\Ze ijhlb\ \ukrbo deZkkh\ b[h ijb \b^_ ^\hjyg hg qm\kl\h\Ze dZd ©\ g_f aZdbiZ_ldjh\vjZ[Zªh^gZdh\ lh`_\j_fyhgihklhyggh^Z`_dh]^Z[ue_s_kh\k_fj_[_gdhf aZb]ju\Zek ex^vfbklhysbfb\ur__]hihiheh`_gbx ;ue eb hg \ukhdhf_j_g" <b^bfh ^Z IjZ\^Z \ rdhe_ hg klZjZeky \klmiblv \ ^jm`[m k mq_gbdZfbZjbklhdjZlbq_kdh]hijhbkoh`^_gbygh_fm[uehijbylg__kfhlj_lvgZgboq_fgZ ^_l_c ba f_sZgkdh]h khkeh\by i_j\u_ bfihgbjh\Zeb _]h wkl_lbq_kdhfm qm\kl\m lhgdbfb q_jlZfbebpZb [jbevyglh\ufb[meZ\dZfb Iha^g__ Ch]Zg gbdZd g_ fh] jZah[jZlvky \ lhf [hjhlvky eb _fm ijhlb\ ij_^klZ\bl_e_c ^\hjygkl\ZbebgZh[hjhlk^_eZlv\k_\hafh`gh_qlh[uihiZklv\ bokj_^m<h\kydhfkemqZ_ hg bkiulu\Ze [hevrh_ m^h\e_l\hj_gb_ dh]^Z dlhgb[m^v ba ij_^klZ\bl_e_c agZlb bkdZe _]h h[s_kl\Z < p_ehf q_klhex[b\u_ fukeb Ch]ZgZ f_gvr_hklZgZ\eb\Zxl \gbfZgb_ Z\lhjZ q_f _]h [he_ag_ggZy qm\kl\bl_evghklv ^Z wlh b ihgylgh `be hg \ \_kvfZ kl_kg_gguo mkeh\byo ihwlhfm ih\h^h\ ijhl_klh\Zlv m Ch]ZgZ [ueh dm^Z [hevr_ q_f ih\h^h\ d aZghkqb\hklb HibkZggu_ ^\_ klhjhgu ebqghklb Ch]ZgZ ijhlb\hj_qb_ f_`^m _]h kljZohf i_j_^ hdjm`Zxsbfb b kdehgghklvx d Z]j_kkb\ghfm hlghr_gbx d gbf b y\eyxlky hkgh\hc ihklhygguodhe_[ZgbcCh]ZgZf_`^m^\mfydjZcghklyfb<_jhylghlh`_fh`_l[ulvhlg_k_gh b dkZfhfmKljbg^[_j]mdhlhjuc\ aj_ehf\hajZkl_kljZ^Ze[j_^hfij_ke_^h\ZgbyIhklhyggh fu gZoh^bf \ _]h ijhba\_^_gbyo lj_\h`gh[hyaeb\uo b \ lh `_ \j_fy aZklj_\Zxsbo i_jkhgZ`_cohly[ulvfh`_lb g_lZdyjdhh[jbkh\Zgguo< jhfZg_©DjZkgZydhfgZlZªNZevd ihqlb nZgZlbq_kdb [hj_lky aZ kijZ\_^eb\hklv b ijhlb\ m]g_l_gby [_^gydh\ h^gZdh \ j_rZxsbcfhf_glhg\k_]^Z[hyaeb\hhlklmiZ_l Wfhlb\gu_ebqghklb @b\h_ khqm\kl\b_ dhlhjh_ fu gZ[ex^Zeb m <Zgb ba ©Mgb`_gguo b hkdhj[e_gguoª g_ mdZau\Z_l kZfh ih k_[_ gZ wfhlb\guc oZjZdl_j ebqghklb H^gZdh ke_^m_l hlf_lblv qlh ijb wfhlb\ghklb ]em[bgZ j_Zdpbc h[mkeh\e_gZ dZd ijZ\beh lZd`_ b khkljZ^Zgb_f < ©Ij_klmie_gbbb gZdZaZgbbª>hklh_\kdbc\u\h^blh^gmy\ghwfhlb\gmxebqghklv²wlhKhgy FZjf_eZ^h\ZBf_ggh__ \ebygbxke_^m_lijbibkZlvlhlaZ\_jrZxsbcjhfZgih\hjhld ^h[jm dhlhjuc ijhbkoh^bl \ ^mr_ JZkdhevgbdh\Z Bkiheg_ggZy qm\kl\Z ^he]Z Z _s_ [hevr_ khkljZ^Zgby d hlpm fZq_o_ b __ ^_lyf hgZ `_jl\m_l k\h_c ^_\bqv_c q_klvx qlh[u ihfhqv jh^guf \ m`ZkZxs_c gm`^_ qlh[u kiZklb bo hl ]heh^ghc kf_jlb >ey g__ wlh k\yaZgh k `_klhdbfb fmdZfb b[h l_ kljZ^Zgby dhlhju_ hgZ [_j_l gZ k_[y dZ`mlky _c g_\ughkbfufb Dh]^Z iha^g__ JZkdhevgbdh\ gZf_dZ_l qlh __ feZ^r_c k_klj_ \_jhylgh ij_^klhbl km^v[Z koh^gZyk KhgbghchgZm`ZkZ_lkyk ²G_lG_lG_fh`_l[ulvg_l²dZdhlqZyggZy]jhfdh\kdjbdgmeZKhgydZd[m^lh__ \^jm]gh`hfjZgbeb²;h][h]lZdh]hm`ZkZg_^himklbl Khgy hklZ_lky \k_ lhc `_ lhgdhc wfhpbhgZevghc ^_\mrdhc dZdhc [ueZ b ^h ©iZ^_gbyª \ugm`^_ggZy i_j_f_gZ h[jZaZ `bagb g_ hljZabeZkv gZ g_c QZklbqgh KhgbgZ kbevgZy wfhpbhgZevgZy\ha[m^bfhklvij_^klZ_li_j_^gZfbdZdlj_\h`ghklv[hyaeb\hklvH^gZ`^u_c ijbrehkvk_klvaZklhejy^hfk fZl_jvxb k_kljhcJZkdhevgbdh\Zb m`_h^gbfwlbfnZdlhfhgZ [ueZihljyk_gZk Khgyk_eZqmlvg_^jh`ZhlkljZomb jh[dh\a]eygmeZgZh[_bo^Zf<b^gh[uehqlhhgZb kZfZj_ihgbfZeZdZdfh]eZhgZk_klvk gbfbjy^hfKhh[jZab\wlhhgZ^hlh]hbkim]ZeZkvqlh \^jm]hiylv\klZeZb \kh\_jr_gghfkfms_gbbh[jZlbeZkvd JZkdhevgbdh\m <h \j_fy \bablZ h dhlhjhf b^_l j_qv Khgy m\b^_eZ dZd [_^gh `b\_l JZkdhevgbdh\ dhlhjucg_aZ^he]h^hwlh]h^Ze__ fZq_o_^_g_]HkhagZ\\kxly`_klvgm`^upZjys_c\ k_fv_ JZkdhevgbdh\uoKhgyhq_gvkljZ^Z_lk² ²<ugZf\k_\q_jZhl^Zeb²ijh]h\hjbeZ\^jm]\ hl\_lKhg_qdZdZdbflhkbevgufb kdhjufr_ihlhf\^jm]hiylvkbevghihlmib\rbkv=m[ub ih^[hjh^hd__ hiylvaZiju]ZebHgZ ^Z\gh m`_ ihjZ`_gZ [ueZ [_^ghc h[klZgh\dhc JZkdhevgbdh\Z b l_i_jv keh\Z wlb \^jm] \uj\ZebkvkZfbkh[hc Lj_\h`ghklv [hyaeb\hklv Khgb aZ\bkyl \ dZdhclh f_j_ hl __ fheh^hklb \_^v kZfZ hgZ ihqlb^blyGh_s_kbevg__q_f[hyaeb\hklvijhy\ey_lkym Khgb²k kZfh]hgZqZeZjhfZgZ² khkljZ^Zgb_LZdhgZk \_ebqZcr_c]hlh\ghklvx[_j_lih^aZsblmfZq_omohlylZhlghkblkyd g_c[_ahkh[hckbfiZlbbb ^Z`_\ ba\_klghckl_i_gb\bgh\gZ\ lhfmgbabl_evghfiheh`_gbb\ dhlhjhfhdZaZeZkvKhgyk <b^gh [ueh qlh \ g_c Khg_ m`Zkgh fgh]h aZljhgmeb qlh _c m`Zkgh ohl_ehkv qlhlh \ujZablvkdZaZlvaZklmiblvkyDZdh_lhg_gZkulbfh_khkljZ^Zgb__kebfh`ghlZd\ujZablvky bah[jZabehkv\^jm]gZ\k_oq_jlZoebpZ__ ²;beZ>Zqlh\uwlh=hkih^b[beZ: ohlv[ub [beZlZdqlh`Gm lZdqlh`"<ugbq_]hgbq_]hg_agZ_l_WlhlZdZyg_kqZklgZyZodZdZy g_kqZklgZyB [hevgZy ;he__lh]hKhgyihke_kf_jlbhlpZh[\bgy_l^Z`_k_[yqlh[uaZsblblvfZq_omk : kdhevdh kdhevdh jZa y __ \ ke_au \\h^beZ >ZgZ ijhrehc _s_ g_^_e_ Ho y <k_]h aZ g_^_ex^h_]hkf_jlbY `_klhdhihklmibeZB kdhevdhjZay wlh^_eZeZ:odZdl_i_jvp_euc ^_gv\kihfbgZlv[ueh[hevghKhgy^Z`_jmdbehfZeZ]h\hjyhl[heb\hkihfbgZgbc :\lhjjZkkdZau\Z_lqblZl_exb hlhf\ q_faZdexqZehkvfgbfh_[_kk_j^_qb_KhgbKhgy hldZaZeZkvhl^ZlvfZq_o_gh\uc\hjhlgbqhdb gZjmdZ\gbqdbdhlhju_lhc[ueb^_ckl\bl_evgh kh\k_fgb dq_fmk ²GZqlh\Zf]h\hjxDZl_jbgZB\Zgh\gZ"LZdb kdZaZeZ©gZqlhªM` wlh]hlhg_gZ^h [ueh[u_c]h\hjblvHgZlZdgZf_gyihkfhlj_eZb lZd_cly`_ehly`_ehklZehqlhy hldZaZeZ b lZdwlh[ueh`Zedhkfhlj_lv Ihkdhevdm Khgy h^gh\j_f_ggh h[eZ^Z_l qm\kl\hf ^he]Z bkiheg_gZ khkljZ^Zgby b [hyaeb\Z lh fh`gh ij_^iheZ]Zlv qlh wlh ebqghklv hlebqZxsZyky h[s_c \ha[m^bfhklvx wfhpbc k ij_h[eZ^Zgb_f Zevljmbklbq_kdbo qm\kl\ Ih^l\_j`^_gb_f fh]ml kem`blv fgh]b_ wibah^ujhfZgZKhgxlZd[he_ag_ggh\hegm_lij_ajbl_evgh_aZf_qZgb_h [h]_kju\Zxs__kyk mklJZkdhevgbdh\ZqlhhgZlml`_\uoh^blbak_[yk Ebph Khgb \^jm] kljZrgh baf_gbehkv ih g_f ijh[_`Zeb km^hjh]b K g_\ujZabfuf mdhjhf \a]eygmeZ hgZ gZ g_]h ohl_eZ [ueh qlhlh kdZaZlv gh gbq_]h g_ fh]eZ \u]h\hjblv b lhevdh\^jm]]hjvdh]hjvdhaZju^ZeZaZdju\jmdZfbebph HgZijboh^bl\ m`ZkmagZ\qlh__ h[\bgyxl\ djZ`_klZjm[e_cM`Zkwlhlfh`ghkqblZlv \ h[s_f h[hkgh\Zgguf gh b a^_kv fu m[_`^Z_fky \ lhf dZd e_]dh fh`_l hgZ ihl_jylv kZfhh[eZ^Zgb_ih^gZieu\hfqm\kl\ ²G_lwlhg_yY g_[jZeZY g_agZx²aZdjbqZeZhgZjZaju\Zxsbfk_j^p_\hie_fb [jhkbeZkvd DZl_jbg_B\Zgh\g_ Ghb ihke_lh]hdZd__ g_\bgh\ghklv^hdZaZgZ^mr_\gZy[hevg_ij_djZsZ_lkyk Gh \ i_j\mx fbgmlm m` kebrdhf ly`_eh klZeh G_kfhljy gZ k\h_ lhj`_kl\h b gZ k\h_ hijZ\^Zgb_²dh]^Zijhr_ei_j\ucbkim]i_j\ucklhe[gyddh]^ZhgZihgyeZb khh[jZabeZ\k_ ykgh ² qm\kl\h [_kihfhsghklb b h[b^u fmqbl_evgh kl_kgbeh _c k_j^p_ K g_c gZqZeZkv bkl_jbdZ < k\yab k ih^h[gufb kp_gZfb Z\lhj ^Z_l q_ldb_ ihqlb ijyfu_ nhjfmebjh\db oZjZdl_jbamyKhgbgmebqghklvk Khgyjh[dZyhlijbjh^ub ij_`^_agZeZqlh__ e_]q_ih]m[blvq_fdh]h[ulhgb[uehZ m`h[b^_lv__ \kydbcfh]ihqlb[_agZdZaZgghGh\k_lZdb^hkZfhcwlhcfbgmlu_cdZaZehkv qlhfh`ghdZdgb[m^vba[_]gmlv[_^u²hklhjh`ghklvxdjhlhklbxihdhjghklbxi_j_^\k_fb dZ`^uf Ebgbyih\_^_gbyKhgb\ hlghr_gbbJZkdhevgbdh\Z\u^Z_lg_lhevdh__ jZklmsmxex[h\v d g_fm gh lZd`_ b kbevgmx wfhpbhgZevgmx \ha[m^bfhklv Lh qlh hgZ ijboh^bl \ m`Zk mkeurZ\ ba mkl JZkdhevgbdh\Z ijbagZgb_ \ kh\_jr_gbb ij_klmie_gby \jy^ eb fh`_l dh]h gb[m^v m^b\blv bgl_j_kg__ lh qlh \ __ j_Zdpbb kgh\Z a\mqbl lh kZfh_ ©g_gZkulbfh_ª khkljZ^Zgb_k DZd[uk_[yg_ihfgyhgZ\kdhqbeZbehfZyjmdb^hreZ^hk_j_^bgudhfgZlugh[ukljh \hjhlbeZkv b k_eZ hiylv ih^e_ g_]h ihqlb ijbdZkZykv d g_fm ie_qhf d ie_qm <^jm] lhqgh ijhga_ggZyhgZ\a^jh]gmeZ\kdjbdgmeZb [jhkbeZkvkZfZg_agZy^eyq_]hi_j_^gbfgZdhe_gb KhkljZ^Zgb_k\h_\ hlghr_gbb m[blhcKhgym`_ \ujZ`ZeZ ih ^jm]hfm ih\h^m l_i_jv `_ _x[_ahklZldZh\eZ^_\Z_lkhkljZ^Zgb_d g_kqZklghfmm[bcp_k ² G_l g_l l_[y g_kqZklg__ gbdh]h l_i_jv k p_ehf k\_l_ ² \hkdebdgmeZ hgZ dZd \ bkklmie_gbbg_keuoZ\_]haZf_qZgbyb \^jm]aZieZdZeZgZ\aju^dZd\ bkl_jbd_ Iha^g__ Khgy ke_^m_l aZ JZkdhevgbdh\uf gZ dZlhj]m dhg_qgh wlh _klv k\b^_l_evkl\h __ ©aZdZeb\r_ckyª aZ wlh \j_fy ex[\b gh [_a aZeh`_gghc \ __ ebqghklb wfhlb\ghklb hgZ hdZaZeZkv [u g_kihkh[ghc gZ klhev kZfhhl\_j`_ggmx ex[h\v HgZ hklZ_lky k gbf \ ]hj_ gZ\k_]^Zk ²LZd gH hklZ\brvf_gyKhgy"²]h\hjbehgqmlvg_k gZ^_`^hckfhljygZg__²G_l g_lgbdh]^Zb gb]^_²\kdjbdgmeZKhgy²aZlh[hcihc^m\kx^mihc^mH]hkih^bHoy g_kqZklgZyB aZq_faZq_fy l_[yij_`^_g_agZeZAZq_fluij_`^_g_ijboh^be"H]hkih^b ²<hly bijbr_e²L_i_jvlhHqlhl_i_jv^_eZlv<f_kl_\f_kl_²ih\lhjyeZhgZdZd[u \ aZ[ulv_b \gh\vh[gbfZeZ_]h²\ dZlhj]mk lh[hc\f_kl_ihc^m =em[bgZ wfhpbhgZevguo i_j_`b\Zgbc m Khgb klhev \_ebdZ qlh bo g_evay kqblZlv \ZjbZglhf ikbobdb kj_^g_]h q_eh\_dZ ;_kkihjgh Khgy ² Zdp_glmbjh\ZggZy ebqghklv ?_ ]hlh\ghklv ju^Zlv ^Z`_ ih g_agZqbl_evghfm ih\h^m qlh k\b^_l_evkl\m_l h fy]dhk_j^_qbb Khgb _s_ jZa ^hdZau\Z_l ijZ\bevghklv lZdhc d\ZebnbdZpbb :dp_glmbjh\Zgghklv Khgb m >hklh_\kdh]h\hkijbgbfZ_lky_s_j_ev_ng___kebfu\kihfgbf^jm]mxKhgxbah[jZ`_ggmx Lhekluf \ ©<hcg_ b fbj_ª WlZ ^jm]Zy Khgy ² ^h[jZy ^_\mrdZ kihkh[gZy gZ khqm\kl\b_ h[eZ^ZxsZy ^Z`_ ^Zjhf bkdj_gg_ khqm\kl\h\Zlv ex^yf H^gZdh ]em[hqZcrZy wfhpbhgZevgZy \ha[m^bfhklv m g__ hlkmlkl\m_l hlkx^Z b iZjZee_ev f_`^m g_x b Khg_c >hklh_\kdh]h \hagbdgmlvg_fh`_l >bklbfbq_kdb_ebqghklb Ihgylb_oZjZdl_jfu\ ijbgpbi_hlebqZ_fhlihgylbyl_fi_jZf_glWfhlb\ghklv^he`gZ [ulv hlg_k_gZ ij_`^_ \k_]h d l_fi_jZf_glm \ rbjhdhf ieZg_ Jy^ ^jm]bo k\hckl\ ebqghklb k\yaZgguo lZd`_ k l_fi_jZf_glhf dZkZxlky _]h ijhy\e_gbc \ [he__ madhf kfuke_ keZ\Z < h^ghf ba k\hbo ijhba\_^_gbc =hlo_evn hibku\Z_l ^bklbfbq_kdmx beb ih kl_i_gb khhl\_lkl\mxsboijhy\e_gbckdhj__km[^_ij_kkb\gmxebqghklv< ©<hkdj_kghf^g_^_^mrdbª ly`_eh[hevghcklZjbdkh[bjZ_lk\hxk_fvx\hdjm]k_[y^eyihke_^gbogZklZ\e_gbcG_\_kldZ klZjbdZ²gZlmjZ`bag_ggZyb ijZdlbqgZyQlh`_^hkugZlhhgqj_a\uqZcghly`_egZih^t_f b ihklhyggh gm`^Z_lky \ hi_d_ hlpZ F_^ebl_evghklv ih \k_c \_jhylghklb _klv ke_^kl\b_ ^_ij_kkb\gh]hl_fi_jZf_glZGbdeZmkZZ\lhj\\h^bl_]h\ ih\_kl\h\Zgb_ke_^mxsbfbkeh\Zfb k H^gbfbaihke_^gboijbr_eiha^hjh\Zlvkyk ^_^mrdhckuggug_rgbcohaybg^hfZWlh [ueq_eh\_dkj_^gboe_lk g_kdhevdhfjZqgufebphfb qj_a\uqZcghf_^ebl_evguc Hl_p ^Z_l _fm ihjmq_gb_ koh^blv d iZklhjm gh haZ[hq_gguc l_f [m^_l eb \k_ k\h_\j_f_ggh \uiheg_gh lml `_ gZqbgZ_l ijh\_jylv GbdeZmkZ < k\h_ \j_fy ^_^mrdZ ijbkfhlj_e_fm`_gmdhlhjZy[ueZ[ukihkh[gZ©\a[h^jblvª_]hL_i_jvhgh[jZsZ_lkyd g_ck lZdbfbkeh\Zfbk ²Y ohjhrhagZegZr_]hGbdeZmkZg_j_rbl_evgh]h\k_\ `bagbmkeh`gyxs_]hq_eh\_dZ B ih^mfZe qlh emqr_ \k_]h ihfh]m _fm ih^h[jZ\ ih^oh^ysmx `_gm Lu D_l_eb gjZ\beZkv fg_ _s_ lh]^Z dh]^Z [ueZ kh\k_f ^_\qhgdhc b y ^mfZe hgZ \_k_eZy [ukljh khh[jZ`Z_l h[eZ^Z_lgZoh^qb\hklvxdhlhjZym g_]hhlkmlkl\m_l?kebhg`_gblkygZ^_\mrd_ihoh`_cgZ g_]hkZfh]hiehoh[m^_l^_ehhgbgbk q_f^Z`_\^\h_fg_kfh]mlkijZ\blvky^himklbfhgb b kkhjblvkyg_[m^mlgh\_^vgb h^gh]hk\_leh]hqZkZbfg_m\b^_lvZ dh]^Z^_lbihy\ylkylh [m^mlhgbkZfu_g_kqZklgu_^_lbgZk\_l_Z `bagvbo[m^_lijhl_dZlvkeh\gh\ hkh[hckljZg_ ]^_khegp_g_kby_lgbabfhcgbe_lhf H^gZdhgZ^_`^u^_^mrdbk[uebkvebrvqZklbqghk >_^mrdZ gZ^_yeky qlh keZ\guc hldjuluc b `b\hc gjZ\ D_l_eb kfh`_l ih]ehlblv m]jxfhklvkugZqlh`bagvbohaZjblkyjZ^hklvxgh_]hf_qlZgbyg_k[uebkvohlyb `behkv kmijm`_kdhcq_l_g_lZdm`iehoh Fukevh lhfqlhhl_pfh`_lmf_j_lv]em[hdhihljykeZGbdeZmkZk D_l_eb[ukljhijh[_`ZeZih\k_fm^hfmghgbdh]hg_gZreZGbdeZmkZhgZh[gZjm`beZ\ klhce_ hg kb^_e gZ kdZf__qd_ b ^mr_jZa^bjZxs_ ju^Ze ©=hkih^b ^Z qlh k lh[hc"ª ² kijhkbeZ D_l_eb bkim]Zggh b dh]^Z hg gbq_]h g_ hl\_lbe ijbk_eZ hdheh g_]h h[gyeZ _]h aZ ie_qbb kijhkbeZ[he__g_`ghq_fdh]^Zeb[h©GbdeZmkqlhk lh[hcijhbkoh^bl"Gmih^_ebkv khfghcª©Hl_pmfj_lZ qlhfulh]^Z[m^_f^_eZlv ª²ijhbag_khgkd\havke_au K_jv_aghklv b f_^ebl_evghklv f_rZxl GbdeZmkm \klmiZlv \ `b\hc dhglZdl k hdjm`ZxsbfbEx^b_fmg_kbfiZlbabjmxlHgbaaZwlh]hkljZ^Z_l\k_[hevr_aZfudZ_lky\ k_[_b dZ`_lky\k_fg_ijb\_leb\ufg_ex^bfufq_eh\_dhfk >h[jucGbdeZmkijbgZ^e_`Zed l_fj_^dbfex^yfdhlhju_ihgZlmj_ijb\_leb\ughg_ mf_xl wlh]h ihdZaZlv Z ihwlhfm hgb gbdhfm b g_ gjZ\ylky kZfb `_ hgb j_rZxl qlh ex^b k gbfbg_ohlylbf_lvgbq_]hh[s_]hl_jaZxlkyl_fqlhbogbdlhg_ex[blb bf_gghihwlhfm kha^Z_lky\b^bfhklvqlhhgbkZfbdh\k_fg_l_jibfhhlghkylkyGbdeZmkex[blk\hbo^_l_cgh ihklhyggh[hblkyqlhhgb[m^mlgbs_gkl\h\Zlv_kebkhklhygb_ijb^_lky^_eblvgZg_kdhevdh qZkl_cZ m^_l_ckha^Z_lky\i_qZle_gb_qlhhg`Ze__lbf^_g_] G_ijb\_leb\u_fZg_juGbdeZmkZh[tykgyxlkylZdbfh[jZahfg__]h©\j_^gufgjZ\hfªZ kdhj__ ihklhygghc haZ[hq_gghklvx ih^Z\e_gghklvx GbdeZmk ² ebqghklv g_khfg_ggh ^_ij_kkb\gZy bf_ggh wlh h[mkeh\eb\Z_l b _]h f_^ebl_evghklv b g_j_rbl_evghklv =hlo_evn kmf_e m^b\bl_evgh lhgdh ih^f_lblv \k_ wlb q_jlu b k\yaZlv bo \h_^bgh hibku\Zy ^Zgguc l_fi_jZf_gl >bklbfbq_kdbaZklj_\Zxsb_ebqghklb GZ^hiheZ]Zlvqlh=hlo_evnbkiulu\Zehkh[h_ijbkljZklb_d bah[jZ`_gbx^bklbfbq_kdbo bebkm[^_ij_kkb\guoebqghkl_cb[hwlhll_fi_jZf_glij_^klZ\e_g_s_m ^\moi_jkhgZ`_c_]h ijhba\_^_gbcijZ\^ZgZwlhljZag_[_aijbf_kbiZjZghbq_kdboq_jlJ_qvb^_lij_`^_\k_]h h ]eZ\ghf]_jh_jZkkdZaZ©;Zjlebdhjabgsbdª< i_j\hciheh\bg_ijhba\_^_gby^_ij_kkb\gh_ gZqZeh ;Zjleb ihdZaZgh [he__ yjdh q_f iZjZghbq_kdh_ Ihke_ lh]h dZd ih f_klghklb ijhr_e kbevgucmjZ]Zg=hlo_evnlZdoZjZdl_jbam_l;Zjlebb _]hj_ZdpbbgZwlh[_^kl\b_k ;Zjleb hlghkbeky d l_f gulbdZf dhlhju_ \k_]^Z gZoh^yl ijbqbgm ihkdmeblv b gbdh]^Z gbq_fm g_ jZ^mxlky \_qgh hgb `Zemxlky gZ k\hb ihl_jb gb d dhfm g_ bkiulu\Zxl [eZ]h^Zjghklbdh]^Zihy\ey_lkyih\h^ihjZ^h\Zlvkyhgbihkl_i_gghijbau\Zxlijh\b^_gb_d hl\_lm aZ ms_j[ dhlhjuc hgh bf gZg_keh Dh]^Z khk_^b iha^jZ\eyxl _]h k bkdexqbl_evguf \_a_gb_f_]h^hqvZ lZd`_^hfbd\hegu\h\j_fymjZ]ZgZihsZ^bebhggbq_]hb kemrZlvg_ ohq_lhl\_qZyihlhdhf`Zeh[ih]b[eb\k__]hdhau Dh]^Z ;Zjleb dh \k_h[s_fm m^b\e_gbx gZoh^bl dha a^hjh\ufb b g_\j_^bfufb hg dZaZehkv[ubf__lhkgh\Zgb_ohlva^_kvbkiulZlvjZ^hklvGbqmlvg_[u\ZehHg\gh\vfjZq_g b haZ[hq_g lZd dZd jZa[mr_\Z\rb_ky \h^u jZajmrbeb kZjZc \ dhlhjhf kh^_j`Zebkv dhau k ² =f ^Z dhg_qgh \jh^_ [u _klv b ijbqbgZ mkihdhblvky ih\_k_e_lv Gh \u fg_ h^gh kdZ`bl_ qlh fg_ k dhaZfblh ^_eZlv dm^Z y bo l_i_jv ^_gm" KZjZclh ^_j`blky gZ q_klghf keh\_MfZg_ijbeh`mdm^ZboaZi_j_lv ?fm_s_jZamdZau\ZxlgZlhqlhmjZ]ZgihsZ^be_]hb qlhhg^he`_gg_k_lh\ZlvZ [ulv [eZ]h^Zjguf[h]mb km^v[_GZwlh;ZjlebaZf_qZ_lk : aZ qlh kh[kl\_ggh bo [eZ]h^Zjblv" AZ lh qlh m f_gy g_ hlgyeb fh_c djh\ghc kh[kl\_gghklb" Qlh `_ lh]^Z y ^he`_g [ue [u [eZ]h^Zjblv dZ`^mx kh[Zdm dhlhjZy f_gy g_ ihdmkZeZ: qlhijbdZ`_l_^_eZlvdh]^ZqZklbqghmjZ]Zgf_gy\k_lZdbjZahjbeZ ex^blhevdh b ^_eZxlqlhih^kf_b\Zxlkydh]^Zy \hl\hlehigmhlaehklb A^_kvm`_q_ldhgZf_qZxlkyiZjZghbq_kdb_q_jluebqghklb;Zjlebh[\bgy_l[h]Zb km^v[m aZ lh qlh hgb ihkeZeb gZ a_fex mjZ]Zg gh h^gh\j_f_ggh hg `Zem_lky b gZ ex^_c ih^ljmgb\Zxsbo gZ^ gbf baaZ g_ij_djZsZxsboky \hie_c ;he__ j_adh ijhy\eyxlky _]h iZjZghbq_kdb_ q_jlu \ l_o wibah^Zo ]^_ hg mihjgh hldZau\Z_l [m^ms_fm aylx ² keZ\ghfm fZehfm²\ jmd_^hq_jbIh^dhg_pxghrZ^Z`_kiZkZ_l;Zjleb\f_kl_k ^hq_jvxhlkf_jlb\ jZa[mr_\Z\rboky\hegZogh;Zjlebg_kh[bjZ_lky[eZ]h^Zjblv_]hZ \f_klhwlh]h\hkdebpZ_l k ² G_ gm`_g fg_ aylv dhlhjuc [u f_gy h[t_^Ze H^gh g_kqZklv_ m f_gy m`_ _klv gm ^himklbf lml gbdm^Z g_ ^_g_rvky wlh ² jh^gZy^hqv Gh gm`gh eb fg_ ba h^gh]h g_kqZklvy ^_eZlv^\Z" HldZa`_gbomfhlb\bjm_lky^\mfyfhf_glZfbkdmihklvxb j_\gb\hcih^hajbl_evghklvx < hkgh\Zo h[_bo q_jl e_`bl iZjZghbq_kdh_ gZqZeh hij_^_eyxsbf nZdlhjhf y\ey_lky ih^hajbl_evghklv K j_\gb\hc ih^hajbl_evghklvx hg ke_^bl aZ dZ`^uf rZ]hf ^hq_jb hg ihklhyggh haZ[hq_g l_f qlh dlhlh h[gZjm`bl kijylZggu_ bf ^_gv]b ebrb\ _]h [_kp_gguo k[_j_`_gbc G_ `_eZy jZkklZ\Zlvky k gZdhie_ggufb ^_g_`dZfb hg gZijhiZemx jm]Z_l b l_o fZkl_jh\dZf_gsbdh\dhlhju_j_fhglbjmxl_]h^hfihke_[_^kl\byk ²Wclulhevdhm l_[y[_a^_evxb mqblvkyG_gjZ\blkya^_kvlZdm[bjZckygZ\k_q_luj_ klhjhgudZf_gsbdh\m gZkkeZ\Z[h]mo\ZlZ_l ;Zjleb\_jhylgh\k_odZf_gsbdh\jZah]gZe[uk m^h\hevkl\b_flZddZdaZljZlugZj_fhgl ^hfZ k dZ`^uf ^g_f \k_ [hevr_ \u\h^yl _]h ba k_[y Ihke_ dZf_gsbdZ gZklmiZ_l q_j_^ iehlgbdZk ;Zjlebkijhkbe[_^gy]miehlgbdZqlhhgkh[kl\_gghk_[_^mfZ_l"Hg\_jghkqblZ_lqlh k ohaybgZfh`ghk_fvrdmj^jZlv"Ghohaybgg_^mjZdb g_^mr_\gh[hevghchgg_iha\hebl k_[y]jZ[blvkj_^b[_eZ^gy >jm] xghklb ;Zjleb \klmiZ_l \ kihj kh klZjuf kdjy]hc ² jZ^b _]h `_ [eZ]Z Ih^ dhg_p ;Zjleb jZaj_rZ_l ^jm]m mijZ\eylv k\hbf khklhygb_f h[tykgyy wlh l_f qlh m g_]h ©k_j^p_ djh\vx h[eb\Z_lkyª dh]^Z hg \b^bl dZd ©jZa[ZaZjb\Zxlky _]h ^_gv]bª dZd ©wlb g_]h^yb jZ[hqb_ª h[h]ZsZxlky aZ _]h kq_l BlZd fu y\kl\_ggh jZaebqZ_f m ;Zjleb h[_ q_jlu km[^_ij_kkb\gmx b iZjZghbq_kdmx h^gZdh hgb g_ hl^_e_gu ^jm] hl ^jm]Z Z hj]Zgbq_kdb \aZbfhk\yaZgu\ ^Zgghcebqghklb<jZ`^_[gZyihabpby;Zjlebihhlghr_gbxd hdjm`Zxsbf iblZ_lky _]h haZ[hq_gghklvx k\yaZgghc k \hh[jZ`Z_fuf [ebadbf jZahj_gb_f >_ij_kkb\gZy q_jlZ y\eyxsZyky ijyfhc ijhlb\hiheh`ghklvx Zdlb\ghfm Z]j_kkb\ghfm ih\_^_gbx h[tykgy_l hlkmlkl\b_ m ;Zjleb iZjZghbq_kdhc Zdlb\ghklb K h^ghc klhjhgu ^_ij_kkb\guc l_fi_jZf_gl k\yaZg k [hevrbfb ljm^ghklyfb \ ijbgylbb j_r_gby k ^jm]hc ² ex^b ^_ij_kkb\gh]h lbiZ \k_]^Z hiZkZxlky \hafh`guo ihke_^kl\bc ijhy\e_gghc Z]j_kkbb IjZ\^Z ;Zjlebfh`ghdh_\ q_fkqblZlvZ]j_kkb\gufghwlhlhevdhgZkeh\ZogZ^_e_hggbdh]^Zg_ ^hoh^bl ^h \jZ`^_[guo Zdpbc Dh]^Z khk_^b gZ^ gbf ih^ljmgb\Zxl Z ^jm] ^_lkl\Z \hafms_gguciulZ_lky_]hmj_ahgblvlhohly;Zjlebb ijh^he`Z_l\hiblvb `Zeh\Zlvkyghhg gb gZ dh]h g_ gZiZ^Z_l Ih^ dhg_p hg ^Z_l ^Z`_ kh]eZkb_ gZ [jZd ^hq_jb k g_gZ\bklguf _fm ayl_f dhlhjh]h _fm gZ\yau\Zxl dZd [u gZkbevkl\_gguf iml_f J_adh ih^q_jdb\Z_l Z\lhj ih^hajbl_evghklvlZd`_b m\lhjhckm[^_ij_kkb\ghiZjZghbq_kdhcebqghklbba^beh]bb©Meb [ZljZdªb ©MebZj_g^ZlhjªWlh²dj_klvygbgBh]]_eb\ bf_gbbdhlhjh]hMeb\gZqZe_kem`bl [ZljZdhfZ aZl_fklZgh\blkyZj_g^Zlhjhfwlh]hbf_gbyBh]]_ebihklhygghghkblkyk fukevxh lhf qlh _]h ohlyl gZ^mlv ohlyl qlhlh hlgylv m g_]h ?fm g_^hklZlhqgh lh]h qlh Meb [ue j_dhf_g^h\Zg _fm \_kvfZ kheb^guf b m\Z`Z_fuf q_eh\_dhf b hg lZcdhf j_rZ_l kh[jZlv ^hihegbl_evghk\_^_gbyh ihjy^hqghklb[ZljZdZM`_agZqbl_evghiha^g__dh]^ZBh]]_ebkfh] \hhqbxm[_^blvkyqlhMeb[_amkeh\ghq_klgucq_eh\_dhg\k__s_ijh\h^blhkdhj[bl_evgu_ wdki_jbf_gluk p_evxmklZgh\blvfh`ghebZ[khexlgh^h\_jylvMeb@_gZBh]]_ebaZy\ey_l k ²Ih\_jvl_Bh]]_ebg_lZdm`ahedZddZ`_lkyhglhevdhqj_af_jghih^hajbl_e_gGhhg `_kZf[hevr_\k_]hhlwlh]hkljZ^Z_lohlyhgb f_gy^h\_e^hlh]hqlhy hq_gvaeZyklZeZgh \k_ jZ\gh fhy ghrZ e_]q_ q_f _]h M g_]h kZfh_ ly`_eh_ aZ[he_\Zgb_ m kZfh]h Bh]]_eb hg \k_]^Zg_m^h\e_l\hj_gaZqlh]hkih^v_]hlZdihdZjZeh[wlhfy m`_^mfZeZg_jZa²b \k_`_ g_fh]mihklbqvFmqZ_lf_gylhqlhihfhqv_fmy g_\ khklhygbbY m`_dZdlhiulZeZkv_fm \k_wlh\lhedh\Zlvghhglhevdhihkf_yekygZ^hfghc BlZd fu dhgklZlbjm_f qlh Ch]]_eb ² iZjZghbq_kdZy ebqghklv gh m g_]h g_l hldjulhc Z]j_kkb\ghklb_fmlZd`_g_o\ZlZ_lZdlb\ghklbGZlZedb\ZykvgZdZdh_eb[hkhijhlb\e_gb_hg hlklmiZ_l B \ wlhf kemqZ_ \bghc a^_kv _]h ^_ij_kkb\ghklv \_^v Ch]]_eb gbdh]^Z g_ [u\Z_l \_k_ejZkdh\Zg\k_]^Zhgijhba\h^bl\i_qZle_gb_g_^h\hevgh]h[_ajZ^hklgh]h[jxa]bEbrv lZf ]^_ _fm g_q_]h hiZkZlvky hlihjZ iZjZghbq_kdb_ q_jlu ijhju\Zxlky gZjm`m Kh k\h_c `_ghcgZijbf_jhgihklhygghkkhjblkyhkuiZy__ ]jm[hc[jZgvx =bi_jlbfbq_kdb_ebqghklb <ur_ j_qv reZ h lhf qlh Lheklhc \ ©:gg_ DZj_gbghcª hibku\Z_l ^\mo ij_^klZ\bl_e_c \ukr_]h i_l_j[mj]kdh]h k\_lZ y\eyxsboky ]bihfZgbZdZevgufb ebqghklyfb < hkh[_gghklb wlh dZkZ_lky <Zk_gvdb <_k_eh\kdh]h >hklh_\kdbc \ ©;jZlvyo DZjZfZah\uoª bah[jZ`Z_l DZl_jbgm Hkbih\gm OhoeZdh\m dZd lbibqgh ]bi_jlbfbq_kdmx b ^Z`_ fh`gh kdZaZlv ]bihfZgbZdZevgmx ebqghklv Wlh \_k_eZy ^_eh\blZy b qj_a\uqZcgh fgh]hkeh\gZy `_gsbgZ Ihke_^g__dZq_kl\hbah[jZ`Z_lkyibkZl_e_fhq_gvdhehjblgh:e_rmijbr_^r_]hd __^hq_jb ]hkih`Z OhoeZdh\Z ijb]eZrZ_l d k_[_ ©gZ h^gm lhevdh fbgmldmª gh ihlhd __ Z[kmj^ghc g_kdhgqZ_fhc[helh\gbg_^Z_l]hklx\hafh`ghklb\uj\Zlvkylk² ²<_dZ\_dZp_eu_\_dZg_\b^ZeZ\ZkP_emxg_^_exihfbemcl_Zo\ijhq_f\u[ueb \k_]h q_luj_ ^gy gZaZ^ \ kj_^m <u d /LVH y m\_j_gZ qlh \u ohl_eb ijhclb d g_c ijyfh gZ puihqdZoqlh[y g_keuoZeZFbeucfbeuc:e_dk_cN_^hjh\bq_keb[uagZebdZdhgZf_gy [_kihdhblGhwlhihlhfWlhohlvb kZfh_]eZ\gh_ghwlhihlhfFbeuc:e_dk_cN_^hjh\bqy \Zf^h\_jyxfhxEbam\iheg_Ihke_kf_jlbklZjpZAhkbfu²mihdhc]hkih^b_]h^mrmhgZ i_j_dj_klbeZkv²ihke_g_]hy kfhljxgZ\ZkdZdgZkobfgbdZohly\ub ij_fbehghkbl_\Zr gh\ucdhklxf=^_wlh\u^hklZeba^_kvlZdh]hihjlgh]h"Ghg_lg_lwlhg_]eZ\gh_wlhihlhf Ijhklbl_ qlh y \Zk gZau\Zx bgh]^Z :e_r_c y klZjmoZ fg_ \k_ iha\he_gh ² dhd_leb\h meu[gmeZkv hgZ ² gh wlh lh`_ ihlhf =eZ\gh_ fg_ [u g_ aZ[ulv ijh ]eZ\gh_ Ih`ZemcklZ gZihfgbl_ fg_ kZfb qmlv y aZ]h\hjxkv Z \u kdZ`bl_ ©: ]eZ\gh_"ª :o ihq_fm y agZx qlh l_i_jv]eZ\gh_K l_oihjdZd/LVH\ayeZm \ZkgZaZ^k\h_h[_sZgb_²k\h_^_lkdh_h[_sZgb_ :e_dk_c N_^hjh\bq ² \uclb aZ \Zk aZfm` lh \u dhg_qgh ihgyeb qlh \k_ wlh [ueZ ebrv ^_lkdZy b]jb\Zy nZglZaby [hevghc ^_\hqdb ^he]h ijhkb^_\r_c \ dj_keZo ² keZ\Z [h]m hgZ l_i_jvm`_oh^blWlhlgh\uc^hdlhjdhlhjh]hDZly\uibkZeZbaFhkd\u^eywlh]hg_kqZklgh]h \Zr_]h [jZlZ dhlhjh]h aZ\ljZ Gm qlh h[ aZ\ljZrg_f Y mfbjZx hl h^ghc fukeb h[ aZ\ljZrg_f=eZ\gh_`_hlex[hiulkl\ZH^gbfkeh\hfwlhl^hdlhj\q_jZ[uem gZkb \b^_e /LVH Y _fm iylv^_kyl jm[e_c aZ \babl aZieZlbeZ Gh wlh g_ lh hiylv g_ lh <b^bl_ y m` kh\k_fl_i_jvk[beZkvY lhjhiexkvIhq_fmy lhjhiexkv"Y g_agZx>eyf_gy\k_kf_rZehkv\ dZdhclhdhfhd < lZdhf ^mo_ jZa]h\hj ijh^he`Z_lky _s_ ^he]h <j_fy hl \j_f_gb DZl_jbgZ Hkbih\gZ i_j_[b\Z_lk_[yaZf_qZyqlhhgZ k[b\Z_lky gZgbdhfm g_ bgl_j_kgu_ \lhjhkl_i_ggu_ ^_lZeb ©Lhevdh:e_rZm`Zky qlh]h\hjxZ \h\k_g_]h\hjxh[q_fgZ^h":okZfh]h\hjblkyªIh^ dhg_phgZm`b g_agZ_l\h\k_aZq_fihijhkbeZd k_[_:e_rm©Y klhevdhohqmkdZaZlv\Zfy ^ey wlh]h b ihijhkbeZ \Zk gh dZ`_lky lZd gbq_]h b g_ kdZ`mª LZd ]hkih`Z OhoeZdh\Z aZ^_j`b\Z_lm k_[y:e_rmqZkZgZ^\Z< ^jm]hcjZahgZlhqghlZd`_g_hlimkdZ_lI_johlbgZ OhlylhlhlqZygghki_rbl²\ k\yabk ^_ehfh[m[bckl\_N_^hjZIZ\eh\bqZ²hg\ugm`^_g \ukemrZlvfgh]hq_imobij_`^_q_f_fmm^Z_lky\uj\Zlvky>Z`_dh]^Zhgihdb^Z_l]hklbgmx OhoeZdh\hc\ke_^_fmg_kmlky\ha]eZkuohaycdbOhoeZdh\Zg_lhevdhjZa]h\hjqb\Zwlhhkh[Z \hh[s_qj_a\uqZcgh`b\Zyb wg_j]bqgZyDh]^Zk \bablhfd g_cijboh^blFblyDZjZfZah\hgZ [md\Zevgh\ju\Z_lky\ ]hklbgmx djbqZ qlh aZ`^ZeZkv _]h H[jZa OhoeZdh\hc m >hklh_\kdh]h oZjZdl_jbam_lky ij_`^_ \k_]h kdZqdhh[jZagufb hldehg_gbyfb \ fukeyo b \ j_qb lbibqgufb ^ey ]bihfZgbZdZevguo ebqghkl_c H^gZdh m OhoeZdh\hc d wlhfm ijbkh_^bgyxlky `b\hklv b \_k_euc gjZ\ L_fi_jZf_glm __ \iheg_ khhl\_lkl\mxl nZglZklbq_kdb_ aZl_b GZijbf_j OhoeZdh\Zghkblky k fukevx ihkeZlv >fbljby DZjZfZah\Z gZ ©ahehlu_ ijbbkdb \ Kb[bjbª k l_f qlh[u hg lZf jZa[h]Zl_e b gZqZe gh\mx `bagv Lbibqgh ]bihfZgbZdZevghc ebqghklvx y\ey_lky b r_dkibjh\kdbc NZevklZn ba ©<bg^ahjkdbo gZkf_rgbpª Hg \_k_e ih\_joghkl_g ^_eh\bl[heleb\kdehg_gd rmldZfbah[j_lZl_e_gIehlgucb ]jmaguclheklydNZevklZn^Z`_ \g_rg_hebp_l\hjy_lijb\_j`_gghklv]bihfZgbZdh\d qj_\hm]h^bxb dbgufjZ^hklyf`bagb NZevklZng_kebrdhfaZ[hlblkyh kh[ex^_gbbfhjZevguoghjfhlghkykvd gbf ih\_joghklgh ?fm^haZj_amgm`gu^_gv]bb hggZqbgZ_laZb]ju\Zlvk ^\mfy`_gsbgZfbm dhlhjuo[h]Zlu_ fm`vyk NZevklZnY gZibkZefbkkbkNhj^\hlwlhibkvfh: ^jm]h_lZdh_`_ibkvfhgZibkZe`_g_ fbkl_jZI_c^`ZdhlhjZylZd`_kljhblfg_]eZadb?s_k_]h^gyhgZijbklZevghbamqZeZdZ`^mx ih^jh[ghklv fh_c nb]mju Emqb __ kbyxsbo ]eZa lh kdhevabeb ih fh_c fh]mq_c gh]_ lh ahehlbebfh_kbyxs__[jxoh NZevklZn Y [m^m bo dZagZq__f Z hgb fhbfb dZagZq_ckl\Zfb H^gZ [m^_l ^ey f_gy Hkl Bg^b_c^jm]Zy²<_klBg^b_cb kh[_bfby aZ\_^m\u]h^gu_^_eZKlmiZcGbfhlg_kbwlh ibkvfh fbkkbk I_c^` : lu Ibklhev hlg_kb wlh ibkvfh fbkkbk Nhj^ Fu _s_ ih`b\_f j_[ylZfu_s_ih`b\_f IjhklhlujZ^bhgihkueZ_lh[_bf^ZfZfkh\_jr_gghb^_glbqgu_ibkvfZk FbkkbkI_c^`Keh\h\ keh\h[md\Z\ [md\mLhevdh\ h^ghfibkvf_kdZaZgh©ij_djZkgZy fbkkbkI_c^`ªZ \^jm]hf²©ij_e_klgZyfbkkbkNhj^ª<hlb \kyjZagbpZGhqlh[u\Zkg_ hq_gv h]hjqZeZ wlZ h[b^gZy b aZ]Z^hqgZy bklhjby iha\hevl_ \Zf ihdZaZlv dh_qlh Wlh ² [ebag_p\Zr_]hibkvfZGhfu^Z^bfoh^\Zr_fmZ fh_hklZg_lkyijbfg_ Dh]^Z `_gsbgu ih^]hlh\beb m`_ \k_ qlh[u ^he`guf h[jZahf gZdZaZlv NZevklZnZ NZevklZn\k__s_ih^kf_b\Z_lkygZ^j_\gb\ufkmijm]hfdhlhjh]hkqblZ_lh[fZgmlufk NZevklZn: gm_]hdh\k_f^vy\heZfwlh]h`Zedh]h[_^gh]hjh]hghkpZY kgbfg_agZdhf <ijhq_f y hrb[ky gZa\Z\ _]h [_^guf m wlh]h j_\gb\h]h jh]Zlh]h ih^e_pZ ]h\hjyl mcfZ ^_g_] Ihlhfmlh _]h `_gZ fg_ lZd b ihgjZ\beZkv Hg [m^_l l_f dexqhf dhlhjuc hldjh_l i_j_^hfghckmg^mdwlh]hih^eh]hj_\gb\pZIh\_jvl_fbkl_j;jmdf_gy`^_l[h]ZlZy`Zl\Z Ohly\kdhj_gZ^NZevklZnhfaehihkf_yebkvh^gZdhhgg_l_jy_lqm\kl\ZxfhjZDhg_qgh hgjZa]g_\Zgghmfm^jy_lkybjhgbabjh\ZlvgZ^kZfbfkh[hck² NZevklZnG_m`_eby ^h`be^hwlboe_llhevdh^eylh]hqlh[uf_gyih]jmabeb\ dhjabgm dZd hl[jhku ba fykghc eZ\db b \u\Zebeb \ L_fam" Gm ohjhrh `_ ?keb y iha\hex _s_ jZa ku]jZlv gZ^ kh[hx lZdmx rmldm imklv \u[vxl ba fh_c ]heh\u fha]b ih^`Zjyl gZ fZke_ b kdhjfyl kh[ZdZf ih^ Gh\uc ]h^ Wlb fhr_ggbdb [_ah \kydhc `Zehklb [jhkbeb f_gy \ j_dm lhqghh^gh]hbaiylgZ^pZlbke_iuos_gyldhlhjuoijbg_keZkmdZ: \_^vy ih]jm`Zxkv\ \h^m dZdwlhb iheZ]Z_lkyfg_ihfh_fm\_kmk g_h[udgh\_gghc[ukljhlhc>Z`__keb[u^gh[ueh ]em[hdh dZd ij_bkih^gyy y [u b lh kjZam [u lZf hqmlbeky Gh d kqZklvx j_dZ \ wlhf f_kl_ f_edZ b [_j_]Z iheh]b : lh [u y g_ij_f_ggh ihlhgme Ijhlb\gZy kf_jlv hl \h^u q_eh\_d jZa[moZ_lZ q_f[uy klZe_keb[u_s_jZa[moF_gy[ujZa^meh]hjhc Dh]^ZNZevklZngZdhg_pg_fgh]hijboh^bl\ k_[ygZg_]hh[jmrb\Z_lky\lhjhcm^ZjHg \ugm`^_g i_j_h^_lvky \ `_gkdh_ ieZlv_ qlh[u g_ [ulv magZgguf h^gbf ba kmijm]h\ gh g_ kfhljygZwlh_]h`_klhdhba[b\ZxlB kgh\Zd _]h]g_\mijbf_rb\Zxlkyrmleb\u_ghldbgZ wlhljZahg^Z`_[hevr_^h\he_gkh[hck NZevklZnQlhlulZflhedm_rvh kbgydZoIhkfhlj_eZ[udZdjZkibkZebf_gy²k gh]^h ]heh\u ² \h \k_ p\_lZ jZ^m]b >Z fZeh lh]h Qmlv g_ h[\bgbeb f_gy \ lhf qlh y ² [j_gnhj^kdZy \_^vfZ ?keb [u y g_ [ue lZd mf_g b gZoh^qb\ b g_ kmf_e [u ku]jZlv jhev q_klghcg_\bgghcklZjmoby [um`_kb^_e\ dheh^dZo²\ h[udgh\_gguolxj_fguodheh^dZo dZdgZklhysZy\_^vfZ NZevklZn[heleb\g_f_g__q_fOhoeZdh\Zh^gZdhfukeb_]hf_g__kdZqdhh[jZaguA^_kv mf_klghhlf_lblvqlh`_gsbguih`Zemc[he__kdehggud kdZqdhh[jZaghfmoh^mfuke_cq_f fm`qbgu JZaebqb_ f_`^m fm`qbghc b `_gsbghc kdZau\Z_lky b \ lhf qlh \ wjhlbq_kdbo \hijhkZofm`qbguy\ghe_]dh\_kg__`_gsbgijbf_jhfq_]hfh`_llZd`_ kem`blv NZevklZn <ijhq_f b OhoeZdh\Z ij_^klZ\ey_lky g_ lZdhc m` \ukhdhgjZ\kl\_gghc hkh[hc dZd wlh ke_^h\Zeh[uh`b^Zlvhl\^h\ub fZl_jb\ajhkehc^hq_jbG_dZy]Za_lZkhh[sZ_lh g_c^Z`_ qlh ©h^gZ ^ZfZ ba ©kdmqZxsbo \^h\bpª fheh^ysZyky ohly m`_ bf_xsZy \ajhkemx ^hqv ^h lh]h bf l _ h[\bgy_fuf Fbl_c ij_evklbeZkv qlh \k_]h lhevdh aZ qZkZ ^h ij_klmie_gby ij_^eZ]ZeZ_fmljblukyqbjm[e_cebrv[uhglhlqZk`_[_`Zek g_xgZahehlu_ijbbkdbª<k_ `_ hkh[h_ e_]dhfukeb_ NZevklZnZ h[tykgy_lky g_ klhevdh _]h ihehf kdhevdh _s_ [he__ \_k_euf q_f m OhoeZdh\hc gjZ\hf b g_baf_ggh ohjhrbf gZkljh_gb_f dhlhjh_ gbq_f g_\hafh`ghhfjZqblvNZevklZn y\ey_lky ]bihfZgbZdZevghc ebqghklvx \ ieZg_ gZkljh_gby Z ]hkih`ZOhoeZdh\Z²ihoZjZdl_jmfure_gbyLZdbfh[jZahfhl^_evgu_q_jlul_fi_jZf_glZ m jZaguo ex^_c qZklh hdZau\Zxlky \ujZ`_ggufb g_ \ h^bgZdh\hc f_j_ FZevqbdZ k ]bihfZgbZdZevguf l_fi_jZf_glhf jbkm_l <bdlhj =x]h \ k\h_f jhfZg_ ©Hl\_j`_ggu_ª Wlh =Z\jhr iZj_g_d ² e_l lbibqguc iZjb`kdbc mebqguc fZevqbrdZ Ohly =Z\jhr \u]ey^bl[he_ag_ggufj_[_gdhfhg\_kvfZrmleb\\k_]^ZgZgh]Zoih_lb]jZ_lhgg_ijhqv ijbkemqZ_klygmlvqlhgb[m^vghg_aeh[b\dZddhrdZbeb\hjh[_cM =Z\jhrZg_lgb^hfZgb oe_[Zgb l_ieZgbex[\bb \k_`_\_k_ev_lZdb [jua`_lbag_]hihlhfmqlhhg²k\h[h^_g< jhfZg_ fZevqbd \k_]^Z h`b\e_g kdehg_g d rmldZf b d rZehklyf hkljhmf_g gZoh^qb\ b g_baf_ggh `bag_jZ^hkl_g ² ^Z`_ \ fbgmlu [hevrhc hiZkghklb jZki_\Z_l i_kgb Ih\_^_gb_ =Z\jhrZoZjZdl_jgh²\ g_kdhevdhjZa[Z\e_gghf\b^_²^eylh]hqlhfh`gh[ueh[ugZa\Zlv ©\_k_ehc [_ki_qghcª fZgb_c Hg gbdh]^Z g_ jZa^jZ`Z_lky b ^Z`_ lh]^Z dh]^Z ih^kf_b\Z_lky gZ^ \ajhkeufb ex^vfb hg g_aeh[b\ ;he__ lh]h hg \k_]^Z ]hlh\ ^hklZ\blv jZ^hklv ^jm]bf G_khfg_gghhdjm`_gb_\ dhlhjhfijhoh^bl`bagv=Z\jhrZkhh[sZ_l_]h]bihfZgbZdZevghfm l_fi_jZf_glm hkh[mx hdjZkdm <ugm`^_gguc ihklhyggh [hjhlvky k gm`^hc hg klZgh\blky gZoZevguf G_kihdhcgZy `bagv [_a^hfgh]h ih^jhkldZ fgh]hfm gZmqbeZ _]h fZevqbd g_ ih e_lZfjZa\blhiul_g]h\hjbldZd\ajhkeucfh`_lg_j_^dh^Zlvohjhrbckh\_lb \ajhkehfm =bi_jlbfbq_kdb^_fhgkljZlb\gu_ebqghklb K NZevklZnhf fu \klj_qZ_fky \ g_kdhevdbo ^jZfZo R_dkibjZ gh hg g_ \h \k_o wlbo ^jZfZo h^bgZdh\ < c qZklb ©=_gjboZ ,9ª hg \h fgh]hf gZihfbgZ_l NZevklZnZ ba ©<bg^ahjkdbogZkf_rgbpªghd wlhfm^h[Z\ey_lky_s_h^ghdZq_kl\hebqghklbdhlhjh_\ m`_ ZgZebabjh\Zgghc iv_k_ ebrv gZf_qZehkv Fu bf__f \ \b^m kdehgghklv d h[fZgm b fhr_ggbq_kl\m A^_kv NZevklZn \ iheghc f_j_ ^_fhgkljbjm_l gZf k\hckl\_ggh_ bk l_jbdZf bkdmkkl\h ijbl\hjylvky D bkl_jbq_kdbf q_jlZf fh`gh hlg_klb b _]h qj_af_jgh_ kZfh\hko\Ze_gb_b mf_gb_k ihfhsvxobljhkl_cmclbhlm]jh`Zxs_chiZkghklbLZdbfiml_f ]bihfZgbZd ij_\jZsZ_lky \ ljmkeb\h]h o\ZklmgZ H^gZ`^u ijbgp =_gjbo ih^kljZb\Z_l _fm eh\mrdmHgiha\hey_lNZevklZnmk ^jmavyfbgZiZklvgZ]jmiimfbjguoiml_r_kl\_ggbdh\b h]jZ[blv bo AZl_f =_gjbo kh k\hbfb ijb [eb`_ggufb i_j_h^_\rbkv b aZfZkdbjh\Z\rbkv hlgbfZxl m NZevklZnZ ^h[uqm Z NZevklZn kiZkZ_lky [_]kl\hf Ijb h[km`^_gbb wlh]h kemqZy NZevklZn aZy\ey_l qlh _]h b ^jma_c kehfb eb ij_\hkoh^ysb_ kbeu ijhlb\gbdZ bo [ueh ^h khlgbq_eh\_d©ijhlb\gZr_c`Zedhcq_l\_jdbª>Ze__NZevklZn\hkdebpZ_lq ,H NZevklZn ;m^v y ih^e_p _keb y g_ kjZ`Zeky ^h[juo ^\Z qZkZ ghkhf d ghkm k p_ehc ^x`bghc ]jZ[bl_e_c Y kiZkky qm^hf DmjldZ m f_gy ijhdhehlZ \ \hkvfb f_klZo rlZgu ² \ q_luj_o sbl fhc ijh[bl f_q baam[j_g dZd jmqgZy ibeZ ² _kk_ VLJQXP >\hl agZd eZl ² ijbf_qi_j_\h^qbdZ`Gbdh]^Zy g_^jZekylZdyjhklghk l_oihjdZdklZefm`qbghcghqlhy fh] ih ^_eZlv" QmfZ gZ \k_o ljmkh\ Imklv \hl hgb \Zf jZkkdZ`ml b _keb hgb qlh gb[m^v ijb[Z\ylbebm[Z\yllhihke_wlh]hhgbf_jaZ\pub bkqZ^bylvfu Ihke_ jy^Z ^jm]bo g_[uebp NZevklZn magZ_l hl ijbgpZ qlh gZiZ^Zxsbfb [ueb gbdlh bghcdZdkZfijbgp=_gjbo\f_kl_k khijh\h`^Zxsbf_]hIhcgkhfH^gZdhNZevklZnZwlhjZ ah[eZq_gb_ gbkdhevdh g_ kfmsZ_l K gZoh^qb\hklvx ^hklhcghc ]bihfZgbZdZ b bkl_jbdZ \ h^ghfebp_NZevklZneh\dh\udjmqb\Z_lkyh[ty\eyyqlh\k__]h\jZdb[uebebrvrmldhcqlh kf_rgh ijbgbfZlv bo \k_jv_a IZnhk qm\kl\mxsbcky \ _]h keh\Zo lZd`_ k\b^_l_evkl\m_l h[ bkl_jbq_kdhfoZjZdl_j_wlbo\ukdZau\Zgbcqk NZevklZn Deygmkv [h]hf y kjZam l_[y jZkihagZe dZd magZe [u jh^ghc hl_p Gh ihkemrZcl_ ]hkih^Z dZd fh] y ihky]gmlv gZ `bagv gZke_^gbdZ ij_klheZ" JZa\_ m f_gy ih^gyeZkv[ujmdZgZijbgpZdjh\b"Lu\_^vagZ_rvqlhy ojZ[jdZd=_jdme_kgh\kihfgbijh bgklbgdle_\b lhlg_ljhg_lijbgpZdjh\bBgklbgdl²\_ebdh_^_ehb ybgklbgdlb\ghklZe ljmkhf Hlgug_ y \kx `bagv [m^m \ukhdh]h fg_gby h k_[_ ^Z b h l_[_ lh`_ y ihdZaZe k_[y ev\hfZ luihdZaZek_[yqbklhdjh\gufijbgp_f Bah[jZ`Zy ^ey m\_k_e_gby k\hbo ^jma_c dhjhey dhlhjuc ij_^eZ]Z_l k\h_fm kugm h[tykgblvijbqbgu_]hklhevg_ih^h[Zxs_]hih\_^_gbyNZevklZnb kx^Zmfm^jy_lky\ie_klb g_kdhevdhkeh\^ey\hko\Ze_gbyk\h_ckh[kl\_gghci_jkhguqk NZevklZnGh\k_`_hdhehl_[ykugfhc_klvh^bg^hklhcgucq_eh\_dy qZklh\b^_e_]hk lh[hc gh lhevdh ihaZ[ue dZd _]h ah\ml Ijbgp =_gjbo G_ kh[eZ]h\hebl_ eb \u \Zr_ \_ebq_kl\h kdZaZlv dZdh\ hg ba k_[y" NZevklZn KbfiZlbqguc ij_^klZ\bl_evguc fm`qbgZ m\_jyx l_[y ohly b g_kdhevdh ^hjh^guc \a]ey^ m g_]h \_k_euc ]eZaZ ijbylgu_ b \_kvfZ [eZ]hjh^gZy hkZgdZ GZ \b^ _fm e_l iylv^_kyl beb \_jg__ m`_ ih^ r_klv^_kyl L_i_jv y ijbihfbgZx ² _]h ah\ml NZevklZn ?keb wlh q_eh\_d jZkimlgh]h ih\_^_gby agZqbl _]h gZjm`ghklv h[fZgqb\Z b[h \ ]eZaZo m g_]h =Zjjb \b^gZ ^h[jh^_l_ev ?keb ^_j_\h magZxl ih ieh^Zf Z ieh^u ² ih ^_j_\m lh y j_rbl_evgh aZy\eyx NZevklZn gZiheg_g ^h[jh^_l_eb HklZ\v _]h ijb k_[_ Z hklZevguo ijh]hgb L_i_jv kdZ`b fg_ [_a^_evgbd kdZ`b ]^_ lu ijhiZ^Ze\_kvwlhlf_kyp" Dh]^Z \ihke_^kl\bb NZevklZnm ijboh^blky ijbgylv mqZklb_ \ \hcg_ hg ijb i_j\hf `_ klhedgh\_gbbk \kZ^gbdhfba\jZ`_kdh]h\hckdZiZ^Z_lb ijbl\hjy_lkyf_jl\ufGhlhevdhhg ©ijbr_e \ k_[yª dZd \ g_f kgh\Z aZ]h\hjbe \_k_euc ]bihfZgbZd Z lZd`_ b `mebdh\Zluc bkl_jbdqk NZevklZn ?keb f_gy k_]h^gy \uihljhrZl lh aZ\ljZ y jZaj_rZx ihkheblv f_gy b kt_klv Q_jlih^_jb\h\j_fyy ijbdbgmekyf_jl\ufbgZq_wlhlg_bklh\ucrhleZg^_pfb]hf\urb[[u ba f_gy ^mo Ijbl\hjbeky" Gm wlh y kh\jZe b g_ ^mfZe y ijbl\hjylvky Mf_j_lv ² \hl wlh agZqbl ijbl\hjblvky ihlhfm qlh lhl \ dhf g_l `bagb ² ebrv ih^h[b_ q_eh\_dZ Gh ijbl\hjblvky f_jl\uf \ lh \j_fy dZd lu `b\ agZqbl \h\k_ ^Z`_ b g_ ijbl\hjylvky Z [ulv ih^ebgguf \hiehs_gb_f `bagb =eZ\gh_ ^hklhbgkl\h ojZ[jhklb ² [eZ]hjZamfb_ b bf_ggh hghkiZkehfg_`bagv <h c qZklb iv_ku ©=_gjbo ,9ª NZevklZn \ p_ehf hklZ_lky l_f `_ gh wlbq_kdb b khpbZevgh hg \k_ [hevr_ ^_]jZ^bjm_l K_[y kZfh]h hg ij_^klZ\ey_l ke_^mxsbfb keh\Zfb k ² ² Y dmibe _]h kem]m ;Zj^hevnZ \ kh[hj_ k\ylh]h IZ\eZ Z hg dmibe fg_ dhgy \ Kfblnbe^_?keby _s_^h[m^m`_gm\ im[ebqghf^hf_m f_gy[m^_lkeZ\guckem]ZkeZ\guc dhgvb keZ\gZy`_gZ <ke_^aZwlbfhgh[jZsZ_lkyd \_joh\ghfmkm^v_dhlhjucohq_lZj_klh\Zlv_]haZg_mieZlm ^he]h\qk² NZevklZnY [_^_gdZdBh\fbehj^ghg_lZdl_ji_eb\dZdhg<ZrZfbehklvfh`_l\\b^m fh_c [_^ghklb ijhibkZlv fg_ ihjpbx lxj_fgh]h aZdexq_gby gh o\Zlbl eb m f_gy l_ji_gby \uihegblv \Zrb ij_^ibkZgby ² \ wlhf fm^j_p fh`_l mkhfgblvky g_ gZ ]jhr Z gZ ^h[juc q_j\hg_p Hg\_qghkkhjblkykhk\h_cohaycdhck dhlhjhcgZoh^blky\ bglbfghck\yabJZaebqgufb h[_sZgbyfbhgihkl_i_ggh\ufZgb\Z_lm g__©\ ^he]ª\k___ khklhygb_²^_gv]bbfms_kl\h <_kvfZf_ldhoZjZdl_jbam_lNZevklZnZ\_joh\guckm^vyqk <_joh\guc km^vy Kwj >`hg kwj >`hg y hlebqgh agZx \Zrm kihkh[ghklv ba\jZsZlv bklbgm Gb \Zr kZfhm\_j_gguc \b^ gb ihlhd keh\ dhlhjuc \u ba\_j]Z_l_ k gZ]euf [_kklu^kl\hf g_ aZklZ\yl f_gy hlklmiblv hl kijZ\_^eb\hklb <u dZd fg_ ij_^klZ\ey_lky aehmihlj_[beb ^h\_jb_f wlhc ih^Zleb\hc `_gsbgu aZklZ\b\ __ kem`blv \Zf b dhr_evdhf b kh[kl\_gghchkh[hc JZkkfZljb\Zy ]bihfZgbZdZevghbkl_jbq_kdb_ q_jlu NZevklZnZ fh`gh \kihfgblv ^jm]hc h[jZaom^h`_kl\_gghcebl_jZlmju\g_rg_dZd[m^lhg_bf_xsbcgbq_]hh[s_]hk NZevklZnhf gh ih kZfhc kljmdlmj_ ebqghklb h[eZ^Zxsbc g_khfg_gguf koh^kl\hf k gbf Y bf_x \ \b^m ExpbZgm^hqvRZjehllubajhfZgZ=_l_©Ba[bjZl_evgh_kjh^kl\hª< jZa\_jlu\ZgbbnZ[meu ExpbZgZ kms_kl\_gghc jheb g_ b]jZ_l Z\lhj fh] [u [_a hkh[uo ihl_jv bkdexqblv wlhl i_jkhgZ`ExpbZgZihy\ey_lky\ jhfZg_\k_]hh^bgjZa<hafh`gh=_l_ohl_e\ __ebp_kha^Zlv hkh[hj_adbcdhgljZklk Hllbeb_ch^gZdhg_evayhljbpZlvqlhhghlghkbekyd k\h_cExpbZg_ [_amkeh\gh k bgl_j_khf Hg ihk\ysZ_l hibkZgbx __ fgh]h kljZgbp \ j_amevlZl_ hgZ h[jbkh\ZgZq_ldhb ykghIhijb[ulbb\ fZl_jbgkdbc^hfExpbZgZkjZam`_ihdZau\Z_lk\hc ^_yl_evgucb \_kvfZgZihjbklucgjZ\k <k_ hohlgh ohlv kZfmx fZehklv hl^hogmeb [u ihke_ klhev mlhfbl_evgh]h iml_r_kl\by `_gbom ohl_ehkv ihkdhj__ ih[_k_^h\Zlv k [m^ms_c l_s_c aZ\_jblv __ \ bkdj_gghklb k\hbo qm\kl\h^gZdhExpbZgZ[ueZg_mlhfbfZb g_mfhebfZHgZgZdhg_p^hj\ZeZkv^hkqZkleb\h]h f]gh\_gvy ² a^_kv [ueb ehrZ^b b agZqbl gm`gh [ueh \keZklv gZ_a^blvky \_johf <_l_j g_ih]h^Z ^h`^v [mjy ² gbqlhg_ ijbgbfZehkv \h \gbfZgb_ DZaZehkv qlh \k_ ex^b \ aZfd_ lhevdh b `b\ml ^ey lh]h qlh[u kgZqZeZ ijhfhdgmlv ^h dhkl_c Z ihlhf h[kuoZlv Bgh]^Z _c \^jm]ijboh^beh\ ]heh\mmkljhblvijh]medmi_rdhf\ lZdbokemqZyoExpbZgmf_gvr_\k_]h aZgbfZeh dZd hgZ h^_lZ dZdZy gZ g_c h[m\v \_^v g_h[oh^bfh [ueh ihagZdhfblvky k hdj_klghklyfb h dhlhjuo hgZ lZd fgh]h keurZeZ ?keb [u\Zeh lZd qlh \h \j_fy ijh]medb \_johf \kZ^gbdm ]^_lh g_ ijh_oZlv \k_ hk\Zb\Zeb wlm l_jjblhjbx i_rdhf LZd ExpbZgZ \kdhj_ \k_ hkfhlj_eZ h[h \k_f khklZ\beZ fg_gb_ Kihjblv k g_c ² baaZ `b\hklb __ l_fi_jZf_glZ[uehg_e_]dhb h[s_kl\hdhg_qghfgh]h_\ugm`^_gh [uehkghkblv fheqZ Gh [hevr_\k_]hkljZ^ZebdZf_jbkldbdhlhju_k\_lZ[h`v_]hg_\b^_ebbaaZihklhygghcklbjdbb ]eZ`dbbaaZ[_kdhg_qgh]hjZkiZju\Zgbyb ijbrb\Zgby <h \j_fy k\h_]h ij_[u\Zgby \ aZfd_ ExpbZgZ \k_o hdjm`Zxsbo ^_j`bl \ ihklhygghf gZijy`_gbbb g_^Z_lbfi_j_\_klb^mohgZ\h\e_dZ_l\k_o\ wlhl\h^h\hjhlh^mjfZgb\Zxs_c km_luF_`^mijhqbfExpbZgZg_hq_gvlhkl_kgyeZkv\ \ujZ`_gbyob ]h\hjbeZihjhcj_adh ©h^gZdh gbdlh aZ wlh gZ g__ g_ h[b`Zeky LZd m` ih\_ehkv qlh ex^b kh fgh]bf fbjbebkv [eZ]h^Zjy __ h[Zygbx Z ih^ dhg_p klZeb fbjblvky b k __ hahjkl\hfª Ijb\_^_ggu_ pblZlu m[_^bl_evgh k\b^_l_evkl\mxl h yjdh ]bi_jlbfbq_kdhf l_fi_jZf_gl_ ExpbZgu Gh ih f_j_ ql_gby jhfZgZ fu m[_`^Z_fky qlh __ keh\Z g_ \k_]^Z ^bdlmxlky h^ghc ebrv g_ihkj_^kl\_gghklvx bfimevkb\ghklvx HgZ g_ ijhqv ihdjblbdh\Zlv ^jm]bo hljbpZl_evgh h gbohlha\Zlvkyk K h^ghcklhjhguhgZiulZeZkvjZkiheh`blvd k_[_ex^_cghh[uqgh\k_ihjlbe__ aehc yauqhd dhlhjuc gbdh]h g_ sZ^be Kdhevdh [u \bablh\ hgZ gb gZghkbeZ khk_^yf ih bf_gbx dZdhc[ugb mkljZb\Zeky\ q_klv__ bkhijh\h`^Zxsbo__ ebpjZ^mrgucijb_f²\k_]^ZhgZ ih \ha\jZs_gbb ^hfhc g_h[ma^Zggh aehkeh\beZ b ex[u_ \aZbfhhlghr_gby ex^_c mf_eZ bah[jZablv\ kf_rghf\b^_ A^_kvgZjy^mk ]bihfZgbZdZevghklvxkdZau\Zxlkybkl_jbq_kdb_q_jluebqghklbExpbZgu __ jZa\e_dZxlgZkf_rdbgZ^agZdhfufb<kdhj_fuaZf_qZ_fqlh\ h[s_kl\_hgZgZoh^blky\ p_glj_ \gbfZgby g_ klhevdh [eZ]h^Zjy `b\hklb l_fi_jZf_glZ kdhevdh \ kbem gZahceb\h]h ih\_^_gby ?keb hgZ hdZau\Z_l dhfmeb[h mkem]m lh ^_eZ_l wlh g_ ih ^h[jhl_ k_j^_qghc Z ihlhfm qlh ohq_l ijhba\_klb ohjhr__ \i_qZle_gb_ H^gh]h fheh^h]h q_eh\_dZ ba[_]Z\r_]h [u\Zlv\ h[s_kl\_lZddZdgZ\hcg__fmbkdZe_qbehjmdmhgZiulZ_lkyd k_[_©ijbjmqblvªk ExpbZg_ [ueh ba\_klgh h aZfdgmlhf h[jZa_ `bagb wlh]h fheh^h]h q_eh\_dZ HgZ klZeZ ijb]eZrZlv_]hd k_[_kgZqZeZkh[bjZykh\k_ffZe_gvdh_h[s_kl\haZl_fg_kdhevdh[hevr__ gZdhg_p mkljZb\Zy \_kvfZ fgh]hex^gu_ ijZa^gbdb HgZ [ueZ k gbf hkh[_ggh fbeZ b ijb\_leb\Z gh ]eZ\gh_ ² \_eZ k_[y ih hlghr_gbx d g_fm gZ\yaqb\hmkem`eb\h \k_ \j_fy ^Z\Zyihgylvhdjm`ZxsbfdZdZywlh[_^Z²ihl_jylvjmdmb ihdZau\ZydZdhgZklZjZ_lky[ulv __ h[jZap_fªAZklhehfhgZkZ^beZkvjy^hfk gbfb gZj_au\ZeZfykhgZ_]hlZj_ed_h[e_]qZy _fm\hafh`ghklvihevah\Zlvkylhevdh\bedhc?keb_cijboh^behkvkb^_lvhdhehdZdh]hgb[m^v agZlgh]hkZgh\gbdZlhhgZk\hx`ZehklvgZijZ\eyeZgZ^jm]hcdhg_pklheZ]^_kb^_ebg\Zeb^ ijbdZau\Zy kem]Zf aZf_gblv k\hx ©k_j^h[hevgmxª jmdm Ih^ dhg_p hgZ klZeZ h[mqZlv _]h ibkvfm e_\hc jmdhc ijbq_f \k_ k\hb ihiuldb hg [ue h[yaZg ij_^klZ\eylv gZ __ km^ lZd qlh f_`^mgbfbihklhygghih^^_j`b\ZehdhglZdl Ih^h[guf `_ h[jZahf ExpbZgZ jZau]ju\Z_l ba k_[y kiZkbl_evgbpm h^ghc g_kqZklghc ^_\mrdb <f_rZl_evkl\h ExpbZgu ^_eZ_l lm _s_ [he__ g_kqZklghc ihkdhevdm \ky __ ihfhsv k\h^beZkvd lhfmqlh[u\ua\Zlv\hkobs_gb__xExpbZghcijbq_f^_ckl\h\ZeZhgZ\ \ukr_c kl_i_gb[_klZdlgh < ^jm]hc jZa ExpbZgZ klj_fykv \uklZ\blv k_[y \ jheb h[hevklbl_evgbpu \uau\Z_l \k_h[sbckf_ok ?^\Z ExpbZgZ mkeurZeZ qlh ]jZn [hevrhc ex[bl_ev fmaudb dZd hgZ lhlqZk `_ hj]Zgbah\ZeZ ^hfZrgbc dhgp_jl gZ dhlhjhf kZfZ j_rbeZ \uklmiblv k i_gb_f i_k_ghd ih^ ZddhfiZg_f_gl ]blZju >_gv gZklZe GZ^h kdZaZlv qlh \hh[s_lh ExpbZgZ ^h\hevgh g_iehoh b]jZeZgZg_kdhevdbobgkljmf_glZob h[eZ^ZeZijbylguf]hehkhfghm\u²keh\i_k_g\ __ bkiheg_gbbgbdlhg_fh]jZah[jZlv\ijhq_fwlhg_lZdZym`j_^dhklvlZf]^_gZrbg_f_pdb_ ij_^klZ\bl_evgbpuij_djZkgh]hiheZ[_jmlkyi_lvih^]blZjmIhhdhgqZgbb\uklmie_gbc\k_ ijbkmlkl\mxsb_aZ\_jyeb__qlhhgZi_eZhq_gv\ujZabl_evghlZdqlhExpbZgZ\iheg_fh]eZ m^h\e_l\hjblvky lZdbf mki_ohf B \k_ `_ bf_ggh \ k\yab k bkiheg_gb_f i_k_g __ ihklb]eZ k\h_h[jZagZy g_m^ZqZ Kj_^b ^jm]bo ijb]eZr_gguo \ h[s_kl\_ gZoh^beky ba\_klguc ihwl dhlhjhfmExpbZg_hkh[_gghohl_ehkvihevklblv\ gZ^_`^_qlhhgihk\ylbl_cklbobihwlhc ijbqbg_ hgZ bkihegyeZ ih^ ]blZjm fgh`_kl\h dmie_lh\ gZibkZgguo wlbf ihwlhf Ihke_ dhgp_jlZhgkdZaZe_cg_kdhevdh\_`eb\uokeh\ghExpbZgZh`b^ZeZ[hevr_]hHgZih^hkeZeZ d g_fm dh]hlh ba k\h_c ©k\bluª b ijhkbeZ \uiulZlv m ihwlZ g_ \hkobs_g eb hg l_f qlh mkeurZe k_]h^gy k\hb ij_djZkgu_ klbob \ klhev ij_djZkghf bkiheg_gbb ©Fhb klbob"ª ² kijhkbehgk djZcgbfm^b\e_gb_f©Ijhklbl_km^Zjv²^h[Z\behg²ghijZ\hy gbq_]hg_ keurZe djhf_ ]eZkguo a\mdh\ ^Z b ]eZkgu_ \hkijbgye ^Ze_dh g_ \k_ <ijhq_f aZ fbeh_ gZf_j_gb_y ihevamxkvkemqZ_fi_j_^Zlv[eZ]h^Zjghklvbkihegbl_evgbp_ª G_^hklZlhqgh\gbfZgbym^_eyeExpbZg_b Zjobl_dlhjj_klZ\jbjh\Z\rbcaZfhd< k\yabk wlbfhgZki_pbZevghijh^mfZeZb ih^]hlh\beZwnn_dlgmxkp_gmdhlhjZyfh]eZ[uijb[ebablv __ d wlhfm q_eh\_dm F_`^m ijhqbf hgZ \hh[s_ ex[beZ mqZkl\h\Zlv \ ex[bl_evkdbo l_ZljZevguo ij_^klZ\e_gbyo \ dhlhjuo g_baf_ggh b]jZeZ ]eZ\gmx jhev ijb wlhf p_evx __ [ueh ]eZ\guf h[jZahf ijh^_fhgkljbjh\Zlv k\hb Zdl_jkdb_ kihkh[ghklb LZdbf h[jZahf m ExpbZgu gZ[ex^Z_lky khq_lZgb_ ]bihfZgbZdZevgh]h l_fi_jZf_glZ b bkl_jbq_kdbo q_jl oZjZdl_jZ HgZ ihklhyggh jZau]ju\Z_l lm beb bgmx jhev qlh b kem`bl m^h\e_l\hj_gbx __ kZfhfg_gbyls_keZ\byH^gZdh\k_wlhijhbkoh^blg_hl\jh`^_gghcgZihjbklhklb`b\hklbZ dZd[u©\ jZfdZoªihke_^g_cb iZjZee_evgh_cM qblZl_eyfh`_l\ua\Zlvg_dhlhjh_m^b\e_gb_ lhlnZdlqlhb NZevklZnZb ExpbZgmfuhlghkbfd dZl_]hjbb]bihfZgbZdZevghbkl_jbq_kdbo Zdp_glmbjh\Zgguo ebqghkl_c lh]^Z dZd ijb ih\_joghklghf gZ[ex^_gbb wlh kh\_jr_ggh jZaebqgu_ex^bH^gZdhg_koh^kl\hbok\yaZghk jZaebqgufh[s_kl\_ggufiheh`_gb_fh[hbo ba[Zeh\ZggZy [Zjurgy \hkiblu\Z\rZyky \ iZgkbhg_ b ]jm[uc g_fheh^hc \hydZ NZevklZn ijbgZ^e_`Zl d kh\_jr_ggh jZaguf fbjZf Ijb ZgZeba_ kljmdlmju ebqghklb ijboh^blky iheghklvx hl\e_qvky hl \k_]h \g_rg_]h B \ wlhf kemqZ_ NZevklZn ih`Zemc hdZ`_lky g_ ]jm[__ExpbZguIh\_^_gb_ExpbZgu[u\Z_l\ \ukr_ckl_i_gbg_qmldbf[_klZdlgufdZdfu m[_^bebkv gZ ijbf_j_ fheh^h]h q_eh\_dZ k bkdZe_q_gghc jmdhc beb g_kqZklghc ^_\mrdb dhlhjmx ExpbZgZ j_rbeZ ©kiZkZlvª b \ lhf b \ ^jm]hf kemqZ_ _^bgkl\_ggZy p_ev ² wlh m^h\e_l\hj_gb_ls_keZ\bybo©[eZ]h^_l_evgbpuª <ijhq_fa^_kv_klvb _s_h^gZkms_kl\_ggZyjZagbpZ\ kZfhfkihkh[_ihdZaZi_jkhgZ`_c =_l_ b R_dkibjhf =bihfZgbZdZevghbkl_jbq_kdZy Zdp_glmZpby ExpbZgu fh`_l [ulv \u\_^_gZ\ ijhba\_^_gbb=_l_ij_bfms_kl\_gghba__ ihklmidh\h^gZdhj_qv__ ij_^klZ\e_gZ \_kvfZkdmihNZevklZn`_ijhy\ey_lk_[y]eZ\gufh[jZahf\ keh\Zoh[fZgu\Zyhdjm`Zxsbo ihklhyggh ie_ly jZaebqgu_ g_[uebpu Ke_^m_l h]h\hjblvky qlh \ gm`guc fhf_gl b hg kihkh[_ggZlbibqghbkl_jbq_kdb_ihklmidb ²\kihfgbfohly [u kp_gm ]^_ hg ijbl\hjy_lky f_jl\uf Z ijbgp ^Z`_ ih^mfu\Z_l aZdZau\Zlv ]jh[ M >hklh_\kdh]h fu lZd`_ \klj_qZ_fky k lbibqghc]bi_jlbfbq_kdb^_fhgkljZlb\ghcebqghklvxJ_qvb^_lh ih\_klb©>y^xrdbgkhgª h^bg ba ]eZ\guo ]_jh_\ dhlhjhc FZjvy :e_dkZg^jh\gZ bkiheg_g ]bihfZgbZdZevghc ih^\b`ghklb b ba\hjhleb\hklb HgZ mf__l \uimlZlvky ba keh`g_crbo kblmZpbc h q_f Z\lhj aZf_qZ_l\ kZfhfgZqZe_ih\_klb< k\hboklZjZgbyo\u^Zlv^hqvaZ[h]Zlh]hklZjbdZdgyayhgZ ba\_j]Z_lp_eu_ihlhdbdjZkghj_qby>hq_jbijhlb\ys_ckyieZgmfZfZrbhgZeh\dhijb\h^bl \k_ gh\u_ Zj]mf_glu dhlhju_ ^he`gu m[_^blv Abgm \ jZamfghklb wlh]h aZfukeZ < fhf_gl dh]^Z g_^h[jh`_eZl_evgh gZkljh_ggu_ ]hklb FZjvb :e_dkZg^jh\gu ]hlh\u \hl\hl ijbi_j_lv __ dkl_gd_hgZijhy\ey_l\_ebqZcrmxeh\dhklvb fZg_\j_gghklvk FZjvy:e_dkZg^jh\gZm^_kyl_jbeZkv\ wlmfbgmlm\b^_eZ\k_qlhijhbkoh^beh\ dZ`^hf m]em dhfgZlu keurZeZ qlh ]h\hjbehkv dZ`^hx ba ihk_lbl_evgbp ohly bo [ueh ^h ^_kylb b g_f_^e_gghhl\_qZeZgZ\k_\hijhkujZamf__lkyg_oh^yaZkeh\hf\ dZjfZg Ihkdhevdm ]bihfZgbZdZevgu_ ebqghklb \ khklhygbb ]g_\Z kdehggu d [_klZdlghklb ^hoh^ys_c ^h [_kp_j_fhgghklb b ]jm[hklb ©k\_lkdhcª gZlmj_ FZjvb :e_dkZg^jh\gu gbkdhevdh g_ ijhlb\hj_qbl nZdl qlh \ lZdb_ fbgmlu hgZ hkuiZ_l k\h_]h keZ[hmfgh]h fm`Z hl[hjg_cr_c [jZgvx H^gZdh \k_ wlb dZq_kl\Z oZjZdl_jbamxl FZjvx :e_dkZg^jh\gm ebrv gZiheh\bgmHgZfh`_lijbl\hjblvkykmsbfZg]_ehf^h[jhluG_kfhljygZi_j_ihegyxsmx__ g_gZ\bklv hgZ fh`_l jZklhqZlv meu[db b [ulv \hiehs_gb_f ex[_aghklb H[fZgmlh]h _x fheh^_gvdh]h\haex[e_ggh]hk\h_c^hq_jbdhlhjuckhaeh[hc\ukdZau\Z_lk\h_\hafms_gb_ hgZmf__l\djZ^qb\hh[\_klb\hdjm]iZevpZlZdqlhhg\ dhgp_dhgph\jZkklZ_lkyk g_ciheguc [eZ]h^ZjghklbEbrviha^g__gZFha]eydh\ZgZoh^blijhaj_gb_k² Lml hg dklZlb ijbihfgbe qlh FZjvy :e_dkZg^jh\gZ qj_a\uqZcgh obljZy ^ZfZ qlh hgZ dZdgb^hklhcgZ\k_h[s_]hm\Z`_gbygh\k_lZdbkie_lgbqZ_lb e`_lk mljZ^h\_q_jZ FZjvy :e_dkZg^jh\gZ ^h[b\Z_lky lh]h qlh[u dgyav k^_eZe Abghqd_ ij_^eh`_gb_ Dgyav gZ^hkdZaZlvkljZ^Z_lklZjq_kdbffZjZafhfb g_ij_ju\ghf_e_lhlqZygguc\a^hjl_fg_f_g__ FZjvy:e_dkZg^jh\gZ\hkdebpZ_lk²Ghkdhevdhxfhjmkdhevdh\_k_ehklbkdhevdh\ \Zkhkljhmfbydgyav DZdZy ^jZ]hp_ggZy kihkh[ghklv ih^f_lblv kZfmx lhgdmx kZfmx kf_rgmx q_jlm B bkq_agmlvbah[s_kl\ZaZi_j_lvkygZp_euoiylve_lK lZdbflZeZglhfGh\u[ufh]ebibkZlv dgyav<u[ufh]ebih\lhjblvNhg\babgZ=jb[h_^h\Z=h]hey :nn_dlb\gheZ[bevgu_ebqghklb G_dhlhju_ ex^b h[eZ^Zxl hkh[uf ikboheh]bq_kdbf kdeZ^hf dhlhjuc oZjZdl_jbam_lky baf_gqb\hklvxgZkljh_gby[_a\g_rg_]hih\h^ZLZdb_ex^blh\_kvfZ^_yl_evgub [heleb\u lh f_^ebl_evgu b kdmiu gZ keh\Z Baf_gqb\hklv eZ[bevghklv ih^h[gh]h lbiZ h[tykgy_lky km]m[h [bheh]bq_kdbfb ijbqbgZfb Z ihwlhfm fZeh jZkiheZ]Z_l d kha^Zgbx om^h`_kl\_ggh]h h[jZaZ GZclb lZdhc h[jZa \ om^h`_kl\_gghc ebl_jZlmj_ g_e_]dh ?^bgkl\_gguc h^ghagZqguc ijbf_j pbdehlbfbq_kdhc ebqghklb gZoh^bf \ jhfZg_ Hllh Ex^\b]Z ©FZjbyª Hdjm`ghc ]heh\Z ;jZclmg] g_fheh^hc kmohsZ\uc fm`qbgZ \_k_euc b [hcdbc \ h[s_kl\_ dhlhjh_ kh[bjZ_lkym k\ys_ggbdZkqblZ_lkyh[s_ijbagZggufhkljydhfHgaZgbfZ_l\k_oihk_lbl_e_c kf__lkyrmlblmkljZb\Z_l\_k_eu_b]juHgihklhygghklj_fblky[ulvk fheh^_`vxaZy\eyy qlh imklv fhe klZjbdb ^_j`Zlky \f_kl_ Z fheh^u_ ex[ysb_ rmldb b ihp_emb [m^ml jZa\e_dZlvky ihk\h_fm ijbq_f d fheh^uf hg ijbqbkey_l b k_[y < wlhf ieZg_ ;jZclmg] ² lbibqgZy ]bihfZgbZdZevgZy nb]mjZ H^gZdh \_k_euf rmlgbdhf hkljydhf ;jZclmg] [u\Z_l lhevdhlh]^Zdh]^ZgZoh^blkyg_\ k\h_fihf_klv_lZf`_kj_^bk\hbohg©kljZrguc[jxa]Zb bihohg^jbdª B ^_ckl\bl_evgh i_j \h_ \i_qZle_gb_ h ohaybg_ keh`b\r__ky m :ca_g_jZ \h \j_fy _]h \bablZ d ;jZclmg]m k\h^blky dh \a^hoZf dhlhju_ lhl bkimkdZ_l b d bjhgbq_kdbf mkf_rdZf ;jZclmg] fjZqg__l magZ\ h kemqZ_ dhlhjuc _]h `_g_ dZ`_lky lhevdh aZ[Z\guf EbrvaZjxfdhc\bgZb h`b\e_gghc[_k_^hc:ca_g_jgZqbgZ_lmagZ\Zlv\_k_evqZdZ;jZclmg]Z ?]h `_gZ \ hl\_l gZ m^b\e_gguc \hijhk ]hkly h[tykgy_l qlh fm` ihijhklm g_^hklZlhqgh \eZ^__lkh[hc:ca_g_j\hajZ`Z_lkqblZyqlh]em[bgZfjZqgh]hgZkljh_gby;jZclmg]Z]h\hjbl h q_flh[he__k_jv_aghfq_fh[udgh\_ggZyg_\u^_j`ZgghklvjZa\_g_llZdbokblmZpbcdh]^Z q_eh\_dihijhklmg_\ kbeZokh\eZ^_lvk kZfbfkh[hcdZd[uhggb klZjZekyNZ[meZjhfZgZg_ ^Z_l \hafh`ghklb hij_^_eblv oZjZdl_jgu eb ^ey ;jZclmg]Z ih\hjhlu \ gZkljh_gbb g_aZ\bkbfu_ hl kh[ulbc ijhbkoh^ysbo k [ebadbfb _fm ex^vfb Gh ke_^m_l aZ f_lblv qlh pbdehlbfby fh`_l [ulv mklZgh\e_gZ b \ l_o kemqZyo dh]^Z km]m[h fZgbZdZevgh_ khklhygb_ b ]em[hdZy ^_ij_kkby kf_gyxl ^jm] ^jm]Z m q_eh\_dZ ih^ \ebygb_f lhevdh \g_rg_ \b^hbaf_gyxsboky kblmZpbc Ih`Zemc b JZamfbobgZ ² ^jm]Z JZkdhevgbdh\Z ² fh`gh kqblZlv pbdehlbfbdhf ©Ij_klmie_gb_ b gZdZaZgb_ª >hklh_\kdh]h` Wlh ² `b\hc h[sbl_evguc ^_eh\bluc fheh^hc q_eh\_d h lZdbo ex^yo ]h\hjyl ©GZr ihklj_e ² \_a^_ ihki_eªYaudm g_]hih^\_r_gohjhrhhgex[bl]h\hjblvb fgh]h]h\hjblh k_[_k JZamfbobgbf_ek\hckl\hfb]hf\_kv\ukdZau\Zlvky\ dZdhf[uhggb [uegZkljh_gbblZd qlh\k_hq_gvkdhjhmagZ\Zebk d_fbf_xl^_eh Hkh[_ggh jZa]h\hjqb\uf hg klZgh\blky ih^ \ebygb_f Zedh]hey b lh]^Z khh[sZ_l lZdb_ \_sbdhlhjuo\hh[s_g_ke_^h\Zeh[uh]eZrZlv< `b\hklbb g_ihkj_^kl\_gghklbJZamfbobgZ ijhy\eyxlky ]bihfZgbZdZevgu_ q_jlu hlkx^Z dZd [m^lh gZijZrb\Z_lky \u\h^ h[ ba\_klghc ih\_joghklghklb JZamfbobgZ H^gZdh ^Zevg_c r__ jZa\_jlu\Zgb_ kx`_lZ g_ ih^l\_j`^Z_l wlh]hGZijhlb\hgkdhj__hlebqZ_lky]em[hdbfbwfhpbyfbEx[h\vd >mg_aZo\Zlu\Z_l_]hk lZdhckbehcqlhhg\ __ijbkmlkl\bbbeb^Z`_dh]^ZebrvaZoh^blh g_cj_qvdjZkg__lb l_jy_l kZfhh[eZ^Zgb_ ?]h bkdj_ggyy aZ[hlZ h ^jm]_ JZkdhevgbdh\_ lZd`_ mdZau\Z_l gZ ]em[bgm _]h qm\kl\ Km^y ih wlbf fhf_glZf fh`gh [u iheZ]Zlv qlh JZamfbobgm gZjy^m k ]bihfZgbZdZevgufb q_jlZfb ijbkmsb b wfhlb\gu_ j_Zdpbb H^gZdh fu g_ gZ[ex^Z_f m JZamfbobgZ gb ih\ur_gghc `Zehkleb\hklb gb lj_\h`ghklb AZlh fh`gh dhgklZlbjh\Zlv qlh JZamfbobgk h^bgZdh\hce_]dhklvxb bgl_gkb\ghklvxhsmsZ_lb \hklhj]b ]hj_Ihke_lh]h dZdhg²ih^\ebygb_fZedh]hey²q_j_kqmjihju\bklhijhy\bek\hxex[h\vd >mg__]hgZ ke_^mxsbc^_gvho\Zlu\Z_l]em[hdZy^_ij_kkbyhg]g_\ghhkm`^Z_lkZfh]hk_[yb [_a\kydbo hkgh\ZgbchldZau\Z_lkyhlgZ^_`^k\yaZgguok wlhc^_\mrdhck ² Nm dZd wlh \k_ gbadh B qlh aZ hijZ\^Zgb_ qlh hg [ue ivyg" =emiZy hl]h\hjdZ _s_ [he___]hmgb`ZxsZy< \bg_²ijZ\^Zb ijZ\^Zlh\hl\kyb \ukdZaZeZkvlh_klv\kylh]jyav _]haZ\bkleb\h]h]jm[h]hk_j^pZ\ukdZaZeZkvB jZa\_iha\hebl_evgZohlvkdhevdhgb[m^vlZdZy f_qlZ _fm JZamfbob gm" Dlh hg kjZ\gbl_evgh k lZdhc ^_\mrdhc ² hg ivyguc [myg b \q_jZrgbco\Zklmg" Ih^h[gh_ kZfhmgbqb`_gb_ g_\hafh`gh h[tykgblv h^ghc ebrv ly`_ehc k ihof_evy ]heh\hc hgh [_amkeh\gh k\yaZgh kh kdehgghklvx d ^_ij_kkbb Ihwlhfm fu kqblZ_f qlh j_qv a^_kvb^_lg_h ]bihfZgbZd_k jh\gufgZkljh_gb_fZ hpbdehlbfbd_kdehgyxs_fkyb d^jm]hc djZcghklbd ^_ij_kkbbKdehgghklvxd ^_ij_kkbbfh`ghh[tykgblv]em[bgmwfhpbcijbkmsmx JZamfbobgm Dh]^Z \ `bagb wlh]h q_eh\_dZ ijhbkoh^bl g_qlh \Z`gh_ hg j_Z]bjm_l m`_ g_ kh k\hckl\_gghc ]bi_jlbfbdm ih\_joghklghklvx Z k k_jv_aghklvx^bklbfbq_kdhc ebqghklb H[_ klhjhgu_]hebqghklbjZkdju\Zxlky\ ke_^mxs_fhlju\d_k K JZamfbobguf`_hgJZkdhevgbdh\ihq_fmlhkhr_ekyl_g_lhqlhkhr_ekyZ [uek gbfkhh[sbl_evg__hldjh\_gg__<ijhq_fk JZamfbobgufg_\hafh`gh[uehb [ulv\ ^jm]bo hlghr_gbyo Wlh [ue g_h[udgh\_ggh \_k_euc b khh[sbl_evguc iZj_gv ^h[juc ^h ijhklhlu <ijhq_f ih^ wlhx ijhklhlhx lZbebkv b ]em[bgZ b ^hklhbgkl\h Emqrb_ ba _]h lh\Zjbs_c ihgbfZebwlh\k_ex[beb_]h WdaZevlbjh\Zggu_ebqghklb =_jh_\k wdaZevlbjh\Zggufl_fi_jZf_glhf fugZoh^bf \ ebl_jZlmj_ \_ebdh_ fgh`_kl\h AZ^Z\Zykv\hijhkhfh ijbqbgZoijbkljZklbyibkZl_e_cd ^Zgghckljmdlmj_ebqghklb\kihfgbf lhqlh]h\hjbehkvm`_h[bkl_jbq_kdboebqghklyoWdaZevlbjh\Zggu_ebqghklbfh]mlijb^Zlv jZa\blbx kx`_lZ [hevrmx `b\hklv ]em[hdb_ qm\kl\Z ]_jh_\ kihkh[gu m\e_qv qblZl_ey aZo\Zlblv ihljyklb _]h Djhf_ lh]h ibkZl_eb kZfb qZklh h[eZ^Zxl \ ba\_klghc f_j_ ihju\bklhceZ[bevghcikbobdhcihwlhfmq_eh\_dZ^Zggh]hlbiZbfe_]dhhibkZlvlZddZd_]h \gmlj_ggbcfbjbf[ebahdG_j_^dhqj_af_jgZygZijy`_gghklvb kljZklghklvom^h`_kl\_ggh]h ijhba\_^_gbydhj_gblkyg_\ k\h_h[jZabbkljmdlmjuebqghklb_]h]_jh_\Z \lhfqlhibkZl_ev ihdZau\Z_l ex[h\v k_dkmZevgh_ \e_q_gb_ < ih^h[guo kemqZyo ^Z`_ ebqghklb gbq_f g_ \u^_eyxsb_kye_]dh^hoh^yl^h\ukr_ckl_i_gb[eZ`_gkl\Zb hlqZygbyLZdgZijbf_jfh`_l [ulv bklhedh\ZgZ wdaZevlZpby ]_jh_\ \ ljZ]_^bb R_dkibjZ ©Jhf_h b >`mev_llZª <hl `Zeh[Z Jhf_hdh]^ZhgmagZ_lh k\h_fba]gZgbbba]hjh^Z\ dhlhjhf`b\_l>`mev_llZk Jhf_h DZdZywlhfbehklvWlhf_klvG_[_kguck\h^_klvlhevdhgZ^>`mev_llhcKh[ZdZfurv ex[Zyf_exa]Z@b\mlih^gbfb \ijZ\_k g_c\h^blvkyGhg_Jhf_hM gZ\haguofmo=hjZa^h [hevr_ \_kZ b agZq_gvy Q_f m Jhf_h bf jZaj_r_gh KhijbdZkZlvky k [_ehkg_`guf qm^hf >`mev_llbghcjmdbb \hjh\Zlv;eZ]hkeh\_gv_]m[__ klu^eb\uoGhg_Jhf_hWlhfmg_evayHg \ \ukued_Z fmobiheghijZ\guB lukdZaZeqlh\ukuedZ²g_kf_jlv" WdklZahf ho\Zq_g Jhf_h b \ agZf_gblhc kp_g_ ijhsZgby jZa^_ey_l wdklZa lZd`_ >`mev_llZ<hlwlZg_h[udgh\_ggZyihjhfZglbqghklbb ebjbafmkp_gZk² >`mev_llZ Moh^brv lu" ?s_ g_ jZkk\_eh GZk h]emrbe g_ `Z\hjhgdZ ]hehk : i_gv_ kheh\vyhgihghqZfIh_l\hllZfgZ^_j_\_]jZgZlZIh\_jvfhcfbeucwlhkheh\_cJhf_h G_l wlh [ueb `Z\hjhgdZ debdb =eZrZlZy aZjb ?_ emqb Jmfygyl h[eZdZ K\_lbevgbd ghqb K]hj_e^hleZ < ]hjZo jh^beky^_gv B lyg_lky gZpuihqdZo d \_jrbgZf Fg_ gZ^h m^Zeblvky qlh[u`blvBebhklZlvkyb ijhklblvkyk `bagvx>`mev_llZLZihehkZkh\k_fg_k\_laZjb: aZj_\hdZdh]hlhk\_lbeZ <ahr_^r_]h qlh[ hk\_lblv l\hb imlv >h FZglmb h]g_f nZd_ehghkpZ Ih[m^v _s_ Dm^Z l_[_ ki_rblv" Jhf_h Imklv ko\Zlyl b dZagyl JZa lu kh]eZkgZ Y b ih^Z\gh hklZxkv k lh[hc Imklv [m^_l lZd LZ f]eZ ² g_ f]eZ jZkk\_lZ : [e_kd emgu G_ `Z\hjhgdZ i_kgv GZ^ gZfb h]eZrZ_l k\h^u g_[Z Fg_ e_]q_ hklZ\Zlvky q_f mclb Qlh ` kf_jlv lZd kf_jlv LZd ohq_lky >`mev_ll_ Ih]h\hjbf _s_ g_ jZkk\_eh >`mev_llZ G_evay g_evay Kdhj_c [_]b k\_lZ_l K\_lZ_l @Z\hjhghd]hjeh^_j K\h_c g_kdeZ^bp_c gZf j_`_l mrb : fZkl_j lj_eb [m^lh jZa\h^blv G_ lj_eb hg Z ex[ysbo jZa\h^bl B `Z[vb [m^lh m g_]h ]eZaZ G_l ijhlb\ `Z\hjhgdZ`Z[u²ij_e_klvHgi_gv_fgZfgZihfgbeqlhk\_lehB qlhjZkklZlvky\j_fygZf ijbrehL_i_jv[_]b[e_kdmljZ\k_jmfyg_cJhf_hJmfyg_c^_gvb \k_q_jg_cijhsZgv_ WdaZevlbjh\Zgghklv dZd q_jlZ Zdp_glmbjh\Zgghc ebqghklb gZ[ex^Z_lky g_ lhevdh \ ex[\b Hkh[_ggh yjdh wlh ijhy\ey_lky \ h[jZa_ ijbgpZ =hf[mj]kdh]h \ h^ghbf_gghc ^jZf_ De_cklZ OZjZdl_jgh qlh ijbgp ihy\ey_lky gZ kp_g_ \ \b^_ emgZlbdZ Z\lhj y\gh ohq_l ih^q_jdgmlv wlbf g_j\ghklv \ha[m^bfhklv ^Zggh]h i_jkhgZ`Z Iha`_ fu magZ_f _]h \ fhf_gludh]^Zhgp_ebdhfhl^Z_lkydZd\hklhj]mlZdb hlqZygbxl_dh]^Zijhy\eyxlkyh[_ klhjhgu _]h wdaZevlbjh\Zgghc ebqghklb Dh]^Z ihke_ ih[_^u _]h i_j_ihegy_l kqZklv_ wlh _kl_kl\_gghb ihgylghGhdh]^ZijbgpmagZ_lqlhhgijb]h\hj_g\h_ggufkm^hfd kf_jlbbaaZ gZjmr_gby ihjy^dZ [bl\u ijbjZ\gb\Z_fh]h d baf_g_ b \ wlhl fhf_gl gZqbgZ_l \hklhj`_ggh [j_^blvex[h\vxd g_fmdmjnxjklZdhlhjuc\k_jZ\ghfheg_^himklbl_]hijbgpZdZagblh wlh m`_ ]jZgbqbl k [_ajZkkm^kl\hf wdklZaZ K\hbfb kh[kl\_ggufb keh\Zfb hg dZd [u \k_ [hevr_ jZa`b]Z_l \ k_[_ h[h`Zgb_ ijbgpZ hg m[_`^_g \ hlf_g_ kf_jlgh]h ijb]h\hjZ b g_ ijbkemrb\Z_lkyd kljh]bfij_^mij_`^_gbyf^jm]ZLhl\ dhgp_dhgph\\hkdebpZ_l©;_amfguc q_eh\_d GZ q_f `_ [_ki_qghklv ab`^_lky l\hy"ª Gh ^Z`_ wlhl hdjbd g_ hoeZ`^Z_l ba[uldZ qm\kl\ijbgpZk IjbgpGhij_`^_q_fhg^ZklbkihegblvdZjmB wlhk_j^p_\_jgh__fmHl^ZklgZdZagv ieZldm gZ fZgh\_gv_ Hg kZf k_[_ kdhj__ \kdjh_l ]jm^v B djh\v k\hx jZa[uja`_l \ ijZo ih dZie_ B \hl\kdhj_wlZ[_ki_qghklvbkq_aZ_li_j_ihegyxs__ijbgpZkqZklv_ih[_^ujmrblkyih f_j_ lh]h dZd m]jh`ZxsZy _fm hiZkghklv klZgh\blky \k_ [he__ ]jhaghc aeh\_s_c L_i_jv ijbgp_fh\eZ^_\Z_l[_amfgh_hlqZygb_Hgmfhey_ldmjnxjklbgmb GZlZebxh ihfhsbk Ijbgp :o fZlmrdZ lu [ lZd g_ ]h\hjbeZ Dh]^Z [ l_[_ ]jhabeZ kf_jlv dZd fg_ Fg_ dZ`_lkylu\_kvl\hc^\hjijbgp_kkZH^Zj_gu\k_kbevghklvxg_[_k<_^vy gZr_x[jhkblvky ]hlh\D ihke_^g_fmbakem]l\h_cdhgxrgbK h^ghcfhev[hckiZkbf_gykiZkb HlqZygb_ iheghklvx ebrZ_l ijbgpZ qm\kl\Z kh[kl\_ggh]h ^hklhbgkl\Z Dh]^Z dmjnxjklbgZiulZ_lky_]hh[jZamfblv_^bgkl\_ggufhl\_lhf_ckem`blgh\uc\aju\hlqZygby k IjbgpGh[h`bcfbjjh^gZylZdohjhrG_ijbh[sZcf_gy^hkjhdZ\ fukeyoD k_fv_ kljZrbebs q_jguo ih^ a_fe_c Hg ^he`_g gZdZaZlv f_gy" ?klv dZju D q_fm `_ h[yaZl_evgh jZkklj_e"Hgfh`_lhlj_rblvf_gyhla\ZgvyIhgbablv\ qbg_jZalZdh\aZdhg²JZa`Zeh\Zlv m\heblv;h`_ijZ\_^gucK l_oihjdZdy m\b^_e[ebadh]jh[Qlh`^_lf_gyy `blvohqmb lhevdh: kq_klvxg_leb²[hevr_g_\hijhk H^gZdh dh]^Z dmjnxjkl ihjZ`_gguc ih\_^_gb_f ijbgpZ ijbau\Z_l _]h kZfh]h klZlv km^v_c \ wlhf dhgnebdl_ ijbgylv \_jgh_ j_r_gb_ k dhlhjuf dmjnxjkl g_ij_f_ggh ihkqblZ_lkylhd ijbgpm\ha\jZsZ_lkyb ]hj^hklvb hl\Z]Z\ijhq_fg_[_awdaZevlbjh\Zggh]h ij_m\_ebq_gby Ijbgp ]hlh\ \klj_lblv kf_jlv gh wlh j_r_gb_ g_ k\b^_l_evkl\m_l h [hevrhc kbe_ \heb dhlhjZy ih^qbgy_l k_[_ qm\kl\Z q_eh\_dZ gZijhlb\ bf_ggh qm\kl\Z ihfh]Zxl _fm ijbgylvgh\h_j_r_gb_IjbgpZl_i_jv\hh^mr_\ey_lm`_\_ebqb_j_amevlZlZ_]hdZagbk IjbgpFh_j_r_gv_g_ij_dehgghY `_eZxM\_dh\_qblvkf_jlvxlhlk\ylhcAZdhg\hcgu dhlhjucy gZjmrbeI_j_^ebphfkhe^Zl>jmavyfhbQlhagZqblkdjhfguc\ub]jurkjZ`_gvy Ij_^h^he_gv_fkljZrgh]h\jZ]ZIj_^lhj`_kl\hfgZ^ki_kvxb mijyfkl\hfDhlhju_y aZ\ljZ ih[hjx" Wlh\hh^mr_\e_gb_kf_rZ\r__kyk ]hj_qvxijbgphsmsZ_l^Z`_b lh]^Zdh]^Z_]h\_^ml k aZdjulufb]eZaZfbb hgZ[khexlghm\_j_gqlh_]h\_^mlgZdZagvkIjbgp L_i_jv [_kkf_jlv_ lu \ fhbo jmdZo B kd\hav ih\yadm gZ ]eZaZ k\_jdZ_rv Kghihf ba fgh]bolukyq`ZjdbokhegpGZdjuevyoaZh[hbfbie_qZfbAZ\afZohf\afZoijhkljZgkl\Zfb ieu\mB dZdbadjm]hahjZdhjZ[ey Ih^ \a^hohf \_ljZ bkq_aZ_l ]Z\Zgv LZd ihkl_i_ggh \^Zev moh^bl `bagv <hl \k_ _s_ y jZaebqZxdjZkdbGh\hlbog_lb \hlkiehrghclmfZg <iheg_ khhl\_lkl\m_l lZdhc wfhpbhgZevghc k\_jo\ha[m^bfhklb lhl nZdl qlh magZ\ h ihfbeh\ZgbbijbgpiZ^Z_l\ h[fhjhd< wlhfijhba\_^_gbbDe_cklqj_a\uqZcgh\ujZabl_evgh ihdZaZeqlhkh[hcij_^klZ\ey_lwdaZevlbjh\ZggZyebqghklvKgZqZeZijbgpZ[khexlghm\_j_g \ hlf_g_ \ug_k_ggh]h _fm kf_jlgh]h ijb]h\hjZ \ ihfbeh\Zgbb HkhagZ\ qlh kf_jlv kh\k_f [ebadh hg \iZ^Z_l \ [mjgh_ hlqZygb_ Ke_^m_l aZf_lblv qlh g_ h[eZ^Zc ijbgp k\_jofhsghc wfhpbhgZevghc \ha[m^bfhklvx hg \ wlb fhf_glu kdhj__ \k_]h g_ ihl_jye [u qm\kl\Z kh[kl\_ggh]h ^hklhbgkl\Z Ih^ dhg_p fu kgh\Z klZedb\Z_fky k _]h kihkh[ghklvx d \hh^mr_\e_gbx Ijb ex[hf ih\hjhl_ kblmZpbb ijbgp g_ \hkijbgye [u k\hc ij_^klhysbc jZkklj_elZdjZ^hklgh^Z`_k wdklZahf_keb[u_]hj_Zdpbbg_hij_^_eyebkv\k_lhc`_j_adhc wfhpbhgZevghc \ha[m^bfhklvx dhlhjZy \ ^Zgguc fhf_gl ij_^klZ\ey_l _]h \hh[jZ`_gbx `_eZgguf lh qlh _s_ g_^Z\gh ijb\h^beh _]h \ m`Zk OZjZdl_jgZ b [ukljZy kf_gZ wfhpbc Ke_^m_l mqblu\Zlv lZd`_ we_f_gl ihwlbq_kdh]h ij_m\_ebq_gby <_^v hibku\Z_fmx kl_i_gv wdaZevlZpbb fu gZ[ex^Z_f lhevdh m lj_\h`ghwdklZlbq_kdbo ^mr_\gh[hevguo G_j_^dh \ ih^h[guokblmZpbyohgb]hlh\ud ex[hfmkZfhfmly`_ehfmihdZygbx]hlh\ub ih`_jl\h\Zlv `bagvx jZ^b ^jm]h]h q_eh\_dZ Ex[hiulgh kjZ\gblv ijbgpZ =hf[mj]kdh]h k I_jkb i_jkhgZ`_f ljZ]_^bb R_dkibjZ ©=_gjbo ,9ª I_jkb ghkbl ijha\bs_ ©]hjyqZy rihjZª hgh dklZlb \iheg_ ih^oh^bl b d ijbgpm =hf[mj]kdhfm < kbem ]hjyqghklb l_fi_jZf_glZ hg gZjmrbe ijbdZa h oh^_ [bl\u b wlbf gZ\e_d gZ k_[y kf_jlguc ijb]h\hj JZaebqb_ f_`^m ijbgp_fb I_jkbaZdexqZ_lky\ lhfqlhi_j\h]h aZoe_klu\Zxlg_k^_j`Zggu_ihju\uqm\kl\ dhlhju_ih^qbgyxlk_[_\hexm I_jkb`_i_j\bqgufklbfmehfhdZau\Z_lkykbevgZy\he_\Zy \ha[m^bfhklv\ lh\j_fydZdwfhpbhgZevgZy\ha[m^bfhklv_]h\ujZ`_gZkeZ[hLhqghlZd`_ dZd b ijbgp =hf[mj]kdbc kihkh[gZ gZ \hklhj] [ukljh i_j_oh^ysbc \ hlqZygb_ DZl_jbgZ B\Zgh\gZ ba ©;jZlv_\ DZjZfZah\uoª DZl_jbgZ B\Zgh\gZ kh[kl\_ggh gb dh]^Z g_ ex[beZ k\h_]h `_gboZ ]hjZa^h [hevr_ __ m\e_dZeZ ^jm]Zy fukev ² kiZklb _]h < hkgh\ghf ba wlbo khh[jZ`_gbc hgZ b klZeZ _]h g_\_klhc Kgh\Z fu klZedb\Z_fky a^_kv k wg^h]_gguf ikbohahf bf_xsbfg_dhlhjh_hlghr_gb_d wdaZevlbjh\Zgghfml_fi_jZf_glmbebk ©ikbohahfkqZklvyª dZd bgh]^Z _]h gZau\Zxl lZdb_ [hevgu_ \iZ^Zy \ wdklZlbq_kdh_ khklhygb_ qm\kl\mxl k_[y ijba\Zggufb d lhfm qlh[u ijbg_klb kqZklv_ b hk\h[h`^_gb_ ^jm]bf ex^yf DZl_jbgZ B\Zgh\gZ\hkdebpZ_lk²: dheblZdlhhg_s_g_ih]b[Hglhevdh\ hlqZygbbghy _s_ fh]mkiZklb_]hY ohqm_]hkiZklbgZ\_dbImklvhgaZ[m^_lf_gydZdk\hxg_\_klmB \hlhg [hblkyij_^hfghcaZq_klvk\hx"<_^v\Zf`_:e_dk_cN_^hjh\bqhgg_ih[hyekyhldjulvky" Hlq_]hy ^hkboihjg_aZkem`beZlh]h`_"²Ihke_^gb_keh\ZhgZijhbag_keZ\ ke_aZoke_au [juagmebba__ ]eZa IheguckljZklbl_fi_jZf_glwlhc`_gsbguaZklZ\ey_l__ iha\Zlvd k_[_^hfhc=jmr_gvdm k\hxkhi_jgbpm\ hlghr_gbyok Fbl_c< kbeme_]dhc\ha[m^bfhklbhgZh^_j`bfZfukevxqlh k^_eZ_l =jmr_gvdm k\h_c khxagbp_c \ ^_e_ kiZk_gby Fblb HgZ \ \hklhj]_ hl =jmr_gvdb k ² =jmr_gvdZ Zg]_e ^Zcl_ fg_ \Zrm jmqdm ihkfhljbl_ gZ wlm imoe_gvomx fZe_gvdmx ij_e_klgmxjmqdm:e_dk_cN_^hjh\bq\b^bl_eb\u__hgZfg_kqZklv_ijbg_keZb \hkdj_kbeZ f_gyb y\hlp_eh\Zlv__ k_cqZk[m^mb k\_jomb \eZ^hrdm\hl\hlb \hlB hgZljbjZaZdZd [u \ mih_gbb ihp_eh\ZeZ ^_ckl\bl_evgh ij_e_klgmx kebrdhf fh`_l [ulv imoemx jmqdm =jmr_gvdb Gh DZl_jbg_ B\Zgh\g_ ijbrehkv i_j_`blv `_klhqZcr__ jZahqZjh\Zgb_ Hlj_a\e_gb_ gZqZehkv m`_ k lh]h fhf_glZ dh]^Z =jmr_gvdZ g_ kh]eZrZ_lky gb gZ dZdb_ ^Zevg_crb_ ij_^eh`_gbygZijZ\e_ggu_gZkiZk_gb_FblbB \hl=jmr_gvdZ hdhgqZl_evghkju\Z_lk k_[y fZkdmk ²LZdb hklZ\Zcl_kvk l_fgZiZfylvqlh\ulhm f_gyjmqdmp_eh\ZebZ ylhm \Zkkh\k_f g_lLZdy bFbl_k_cqZki_j_kdZ`mdZd\ufg_ihp_eh\ZebjmqdmZ ylhm \Zkkh\k_fg_l: m` dZdhg[m^_lkf_ylvky < wlhl fhf_gl wfhpbhgZevgh_ khklhygb_ DZl_jbgu B\Zgh\gu ^_eZ_l j_adbc ©ih\hjhlª \ ^jm]mxklhjhgmhgZgZqbgZ_l[jZgblvwlm©[_kimlgmx`_gsbgmªwlh©kha^Zgb_\k_]^Z]hlh\h_ d mkem]ZfªIh^dhg_p©k DZl_jbghcB\Zgh\ghck^_eZekyijbiZ^hdHgZju^ZeZkiZafu^mrbeb __<k_hdhehg__km_lbebkvª<h\j_fykm^Zqj_af_jgZywfhpbhgZevgZy\ha[m^bfhklvDZl_jbgu B\Zgh\guijhy\ey_lkyhkh[_gghj_adh<gZqZe_hgZFblxaZsbsZ_l^hoh^y^hkZfhmgb`_gby < k\hbok\b^_l_evkdboihdZaZgbyohgZjZkkdZau\Z_ldZdh^gZ`^ukiZkZyhlpZijbreZijhkblv m Fblb^_g_]k Lml [ueh qlhlh [_kijbf_jgh_ lZd qlh ^Z`_ b hl lZdhc kZfh\eZklghc b ij_ajbl_evgh ]hj^hc ^_\mrdb dZd hgZ ihqlb g_\hafh`gh [ueh h`b^Zlv lZ dh]h \ukhdhhldjh\_ggh]h ihdZaZgby lZdhc `_jl\u lZdh]h kZfhaZdeZgby B ^ey q_]h ^ey dh]h" Qlh[u kiZklb k\h_]h baf_ggbdZ b h[b^qbdZ qlh[u ihkem`blv ohlv q_fgb[m^v ohlv fZeuf d kiZk_gbx _]h ijhba\_^y\ _]hihevamohjhr__\i_qZle_gb_ H^gZdhkimklyg_fgh]h\j_f_gbk\b^_l_evkdb_ihdZaZgby^Z_l[jZlFblbB\Zgdhlhjh]h hgZ ex[bl [hevr_ q_f k\h_]h `_gboZ B\Zg ij_^klZ_l i_j_^ gZfb \h \j_fy km^Z q_eh\_dhf ikbobq_kdb [hevguf hg h[\bgy_l k_[y \ ih^klj_dZl_evkl\_ d hlp_m[bckl\m B \hl lmllh jZa[mr_\Z\rb_kyqm\kl\ZaZklZ\eyxlDZl_jbgmB\Zgh\gmaZgylvZ[khexlghijhlb\hiheh`gmx ihabpbxIhljyk_ggZy`Zehklvxd B\ZgmZ fh`_l[ulvb h[tylZykljZohfqlh_]hijbagZgby [m^ml ijbgylu \k_jv_a hgZ ihqm\kl\h\ZeZ `_klhdmx g_gZ\bklv d Fbl_ kqblZy _]h hl\_lkl\_ggufaZ^mr_\gh_aZ[he_\Zgb_[jZlZHgZdjbqblk Y ijh[h\ZeZ ih[_^blv _]h Fblx fh_c ex[h\vx ex[h\vx [_a dhgpZ ^Z `_ baf_gm _]h ohl_eZkg_klbghhggbq_]hgbq_]hg_ihgye>ZjZa\_hgfh`_lqlhgb[m^vihgylvWlhba\_j] G_aZ^he]h^hwlh]hhgZm`_gZau\ZeZ_]h©a\_j_fª>hklh_\kdbcijh^he`Z_lk HjZamf__lkylZd]h\hjblvb lZdijbagZ\Zlvkyfh`ghlhevdhdZdhcgb[m^vjZa\ `bagb² \ ij_^kf_jlgmxfbgmlmgZijbf_j\koh^ygZwrZnhlGhDZlybf_ggh[ueZ\ k\h_foZjZdl_j_b \ k\h_cfbgml_Wlh[ueZlZ`_kZfZyklj_fbl_evgZyDZlydhlhjZydbgmeZkvlh]^Zd fheh^hfm jZa\jZlgbdmqlh[ukiZklbhlpZlZ`_kZfZyDZlydhlhjZy^Z\_qZi_j_^\k_xwlhxim[ebdhx ]hj^Zy b p_ehfm^j_ggZy ijbg_keZ k_[y b ^_\bqbc klu^ k\hc \ `_jl\m jZkkdZaZ\ ijh ©[eZ]hjh^guc ihklmihd Fblbª qlh[u lhevdh ebrv kdhevdhgb[m^v kfy]qblv h`b^Z\rmx _]h mqZklvB \hll_i_jvlhqghlZd`_hgZlh`_ijbg_keZk_[y\ `_jl\mghm`_aZ^jm]h]hb fh`_l [ulvlhevdhebrvl_i_jvlhevdh\ wlmfbgmlm\i_j\u_ihqm\kl\h\Z\b hkfukeb\\iheg_dZd ^hjh]_cwlhl^jm]hcq_eh\_d >hc^y ^h ij_^_eZ wfhpbhgZevgh]h \ha[m`^_gby ihke_ k\h_]h k\b^_l_evkdh]h ihdZaZgby ijhlb\FblbDZl_jbgZB\Zgh\gZ\iZ^Z_l\ bkl_jbq_kdbcijbiZ^hdk² FbgmlZ `_ fs_gby ke_l_eZ g_h`b^Zggh b \k_ lZd ^he]h b [hevgh kdhiey\r__ky \ ]jm^b h[b`_gghc`_gsbgujZahfb hiylvlZdbg_h`b^Zggh\uj\ZehkvgZjm`mHgZij_^ZeZFblx ghij_^ZeZb k_[yB jZamf__lkylhevdhqlhmki_eZ\ukdZaZlvkygZijy`_gb_ihj\Zehkvb klu^ ih^Z\be__HiylvgZqZeZkvbkl_jbdZhgZmiZeZju^Zyb \udjbdb\Zy?_m\_eb IjbiZ^hdg_k\b^_l_evkl\m_lh gZebqbbiZlheh]bq_kdh]hbkl_jbq_kdh]hgZqZeZ\ ikbobd_ hg mdZau\Z_l ebrv gZ lh qlh \gmlj_gg__ gZijy`_gb_ k^_eZehkv g_\ughkbfuf Z ghjfZevguc imlv jZajy^db g_ ij_^klZ\eyeky \hafh`guf < l_o kemqZyo dh]^Z wdaZevlbjh\Zgghklv qm\kl\ hklZ_lky\_^msbfnZdlhjhfghd g_cijbkh_^bgy_lkyb kZfhklhyl_evgZy\ha[m^bfhklv\ kn_j_ \heb \hagbdZ_l lZdh_ dZq_kl\h ebqghklb dZd kljZklghklv <hklhj] b hlqZygb_ gZoh^yl \ wlhf kemqZ_ \ujZ`_gb_ \ kZfbo ihklmidZo \ lh \j_fy dZd ijb hlkmlkl\bb \he_\hc \ha[m^bfhklb qj_af_jgZywdaZevlbjh\Zgghklvqm\kl\[hevr_\ujZ`Z_lky\ b^_yob ^mr_\guoi_j_`b\Zgbyo M DZl_jbgu B\Zgh\gu Zdlb\ghklv ihy\beZkv ebrv lh]^Z dh]^Z wfhpbhgZevgh_ \ha[m`^_gb_ ^hklb]eh Zih]_y h[uqgh `_ hgh ijh y\eyehkv [hevr_ \ wdaZevlbjh\Zgghklb b^_c < om^h`_kl\_gghcebl_jZlmj__klvb ^jm]b_ijbf_jukhq_lZgby\ kljZklghfihju\_qj_af_jghklb qm\kl\ b fZdkbfmfZ Zdlb\ghklb <kihfgbf h \aju\_ qm\kl\ Fhjlbf_jZ dhlhjuc lZd m[_^bl_evghbah[jZ`_gRbee_jhf\ ©FZjbbKlxZjlªFhjlbf_jiueZ_lkljZklvxd FZjbbk Fhjlbf_j H g_l Deygmkv g_ y [_amf_p ² lhl Dlh g_ m^_j`bl deZ^ _fm h^gZ`^u >Zjh\Zgguc ih ba\he_gvx [h]Z Ohly [ gZ dZagv \_eZ f_gy ^hjh]Z KiZkm l_[y KiZkm Gh \b^bl[h]KiZkmaZl_fqlh[aZ\eZ^_lvlh[hx Ho\Zq_gguc [_r_ghc kljZklvx hg k`bfZ_l FZjbx \ h[tylbyo FZjby \ m`Zk_ djbqbl ©LZd k`Zevky `_ \k_\urgbc gZ^h fghxª Rbee_j gbq_]h g_ khh[sZ_l h lhf \_e eb k_[y ih^h[gufh[jZahfFhjlbf_jb \^jm]bo`bag_gguokblmZpbyoGhfh`ghkdZaZlvqlhq_eh\_d klZgh\ysbcky jZ[hf k\hbo Znn_dlh\ \ lZdhc f_j_ ^he`_g [ulv ih ijbjh^_ k\h_c gZlmjhc g_h[uqZcgh kljZklghc DklZlb \ ©Hje_Zgkdhc ^_\_ª ]^_ dZaZehkv [u kljZklgu_ ijhy\e_gby ih^kdZaZgu kZfbf kx`_lhf Rbee_j bah[jZ`Z_l g_kjZ\g_ggh f_gvr_ ©kljZkl_cª <_jhylgh wlh h[tykgy_lky l_f qlh BhZggZ k jZ^hklvx ih^qbgy_lky \he_ fZl_jb [h`v_c qlh ^_eZ_l __ ih\_^_gb_kdjhfgufk^_j`ZggufM >hklh_\kdh]hkljZklghklvgZlmjuGZklZkvbNbebiih\gu\ jhfZg_©B^bhlªijhy\ey_lky\hfgh]bowibah^Zo?kebhgZgZjy^mk wlbfij_^klZ\ey_lkygZfb ih^q_jdgmlh ]hj^hc lh wlm q_jlm fh`gh kqblZlv ijhy\e_gb_f ikboheh]bq_kdh]h jZa\blby __ _s_ j_[_gdhf \ugm^beb klZlv ex[h\gbp_c jZa\jZs_ggh]h keZklhex[pZ baaZ q_]h hgZ ihklhygghih^\_j]ZeZkvmgb`_gbyfh dhlhjuom`_gbdh]^Zg_fh]eZaZ[ulvFh`gh[ueh[u jZkkfZljb\Zlv __ ]hj^hklv dZd ikboheh]bq_kdmx j_Zdpbx gZ \k_ i_j_g_k_ggu_ mgb`_gby KljZklghklv `_ wlhc `_gsbgu gbdZd g_evay h[tykgblv h[klhyl_evkl\Zfb __ [bh]jZnbb Ohly GZklZkvyNbebiih\gZihklhygghklZjZ_lkygZeZ^blvkihdhcgucjZaf_j_ggucoh^`bagbl_fg_ f_g__hgZihklhygghk[b\Z_lkyk imlbb wlhk\yaZghk __e_]dhcwfhpbhgZevghc\ha[m^bfhklvx HgZ \k_ \j_fy dhe_[e_lky f_`^m dgya_f Furdbguf b Jh]h`bguf b dhe_[Zgby wlb g_ dhgljhebjmxlky jZamfhf ² __ qm\kl\Z g_ij_ju\gh lhedZxl __ lh d h^ghfm lh d ^jm]hfm Lh hgZ j_rZ_l \uclb aZfm` aZ h^gh]h lh aZ ^jm]h]h gh \kydbc jZa bf_ggh Znn_dlu m\h^yl __ \ klhjhgm hl ijbgylh]h j_r_gby GZdhg_p dgyav `^_l GZklZkvx Nbebiih\gm \ p_jd\b ]^_ ^he`ghkhklhylvky\_gqZgb_G_\_kl_hklZ_lkylhevdhk_klv\ wdbiZ`qlh[u^h_oZlv^hp_jd\b < wlhf]gh\_gb_hgZm\b^_eZJh]h`bgZ²b \hlm`_[jhkZ_lkyd g_fmb [_`blk gbfHkh[_ggh yjdh ijhy\ey_lky kljZklghklv ]_jhbgb \ h^ghc kp_g_ \ j_amevlZl_ \k_\hajZklZxs_]h \ha[m`^_gbyhgZ\uj\Z\dgml\h\g_aZighfihju\_bajmdh^gh]hbaijbkmlkl\mxsbo]hkl_c oe_s_l k\h_]h hkdhj[bl_ey wlbf dgmlhf ih ebpm F_`^m bfimevkb\ghklvx GZklZkvb Nbebiih\gu b ]jm[ufb wdkp_kkZfb Jh]h`bgZ h dhlhjuo ]h\hjbehkv \ur_ g_l gbdZdh]h koh^kl\ZIhklmidbGZklZkvbNbebiih\guhlgx^vg_[_kdhgljhevguhgZhlebqghhl^Z_lk_[_ hlq_l\ lhfqlhgm`ghqlhhgZohq_lk^_eZlvKhk\hbf©keZklhex[p_fªhgZjZkklZg_lkydZd lhevdh ^hklb]Z_l kh\_jr_gghe_lby ihke_ wlh]h hgZ g_ bs_l k_dkmZevguo ihoh`^_gbc HgZ gZqblZgZ h[jZah\ZgZ h[eZ^Z_l [hevrhc qmldhklvx Ihke_^g__ ijhy\ey_lky \ lhf qlh hgZ g_ ohq_l \uclb aZ dgyay FurdbgZ dhlhjh]h ]em[hdh ex[bl b[h g_ \_jbl qlh kfh`_l ^Zlv _fm kqZklv_LZdbfh[jZahfbf_gghZnn_dluZ g_]jm[Zyg_k^_j`Zgghklv\uau\Zxl[mjgu_\aju\u qm\kl\GZklZkvbNbebiih\gu WdaZevlbjh\Zgghklv \ khq_lZgbb kh \aju\Zfb kljZkl_c _s_ [he__ yjdh \ujZ`_gu m FZlbev^u^_eyFhev\ jhfZg_©DjZkgh_b q_jgh_ªKl_g^Zey?_qm\kl\Zd @xev_gm\k_\j_fy dhe_[exlky f_`^m kljZklghc ex[h\vx b h`_klhq_gghc \jZ`^_[ghklvx Dh]^Z @xev_g jZ\gh^mr_g d g_c hgZ evg_l d g_fm kh \k_c iuedhklvx dh]^Z hgZ m\_j_gZ \ _]h ex[\b hgZ oheh^gh hl\hjZqb\Z_lky [jhkZ_l gZ g_]h \a]ey^u ihegu_ g_gZ\bklb b ij_aj_gby Kl_g^Zev bah[jZ`Z_l a^_kv dZd jZa lh ikboheh]bq_kdh_ jZa\blb_ dhlhjh_ bf ih^jh[g__ hibkZgh \ ijhba\_^_gbb ©Ex[h\vª kZfZy kbevgZy ex[h\v \hagbdZ_l \ l_o kemqZyo dh]^Z ex[ysbc g_ \klj_qZ_l \aZbfghklb IjZ\^Z Kl_g^Zev klj_fykv ^hdZaZlv wlm fukev bah[jZ`Z_l wlb ijhlb\hiheh`gu_qm\kl\Zk fZdkbfZebklkdboihabpbcIhke_lh]hdZdfZ^_fmZa_ev^_eyFhev kZfZijb]eZkbeZ@xev_gZdhlhjucgZ^ZgghfwlZi_jZa\blbybohlghr_gbc_^\Zeb__ ex[be ghqvx\ k\hxkiZevgxb hl^ZeZkv_fmmljhfgZklmiZ_li_j\ucj_adbcih\hjhl\ __ih\_^_gbb k ² Km^Zjv \u ba\hebeb ih\b^bfhfm \hh[jZablv ² kdZaZeZ hgZ k _e_ k^_j`b\Z_fuf ]g_\hf ² qlh \u ijbh[j_eb gZ^h fghc dZdb_lh hkh[_ggu_ ijZ\Z _keb \hij_db fh_fm `_eZgbx\ujZ`_gghfmdZdg_evay[he__ykgh\uiulZ_l_kvaZ]h\hjblvkhfghc"Ba\_klgheb \Zfqlhgbdlh\ fbj_g_hkf_eb\ZekygZih^h[gmx^_jahklv" Q_j_a^\Z^gyijhbkoh^blke_^mxsZykp_gZk JZkl_jy\rbkvhlg_h`b^Zgghklb@xev_g\ ihju\_]hjyg_m^_j`Zekyb kdZaZe_cdjhldbf ]hehkhfb^msbfba]em[bgu^mrb²LZdagZqbl\uf_gy[hevr_g_ex[bl_"²Y \k_[yg_ fh]m ijbclb hl m`ZkZ qlh hl^ZeZkv i_j\hfm \klj_qghfm ² kdZaZeZ FZlbev^Z b hl aehklb gZ k_[yaZebeZkvke_aZfb < ihke_^mxsb_ ^gb FZlbev^_ ^hklZ\ey_l jZ^hklv gZ[ex^Zlv l_jaZgby @xev_gZ hgZ ]em[hdh ij_abjZ_l _]h Gh \kdhj_ ih^ \ebygb_f jZaemdb oh^ __ qm\kl\ b fuke_c kgh\Z baf_gy_lky hgZ m`_ gZqbgZ_l lhkdh\Zlv ih \haex[e_gghfm d g_c \ha\jZsZ_lky ieZf_ggZy ex[h\v <h \j_fy wlhc fmqbl_evghc \gmlj_gg_c [hjv[u FZlbev^u \ kiZevg_ __ ihy\ey_lky @xev_g gZ wlhl jZa ijhgbdrbc kx^Z [_a ijb]eZr_gby HgZ \gh\v ho\Zq_gZ kljZklvx b ijhdebgZ_lk_[yaZoheh^ghklvij_^r_kl\h\Z\rmxbo\klj_q_k² Dlh fh] [u hibkZlv [_amfgmx jZ^hklv @xev_gZ" FZlbev^Z [ueZ kqZkleb\Z ih`Zemc g_ f_gvr__]hHgZdeyeZk_[y`Zeh\ZeZkvgZk_[y²GZdZ`bf_gyaZfhxqm^h\bsgmx]hj^hklv ²]h\hjbeZhgZh[gbfZy_]hlZddj_idhkeh\ghohl_eZaZ^mrblv\ k\hboh[tylbyo²Lufhc ih\_ebl_evy l\hyjZ[Zy ^he`gZgZdhe_gyofheblvm l_[yijhs_gbyaZlhqlhy \a[mglh\ZeZkv ² B jZahfdgm\ h[tylby hgZ miZeZ d _]h gh]Zf ² >Z lu fhc ih\_ebl_ev ² ]h\hjbeZ hgZ mih_ggZykqZklv_fb ex[h\vx²<eZkl\mcgZ^hfghc\k_]^ZdZjZc[_aihsZ^uk\hxjZ[ugx _keb hgZ \a^mfZ_l [mglh\Zlv Q_j_a g_kdhevdh f]gh\_gbc \uj\Z\rbkv ba _]h h[tylbc hgZ aZ`b]Z_lk\_qmb @xev_gm_^\Zm^Z_lkym^_j`Zlv__hgZg_ij_f_gghohq_lhlj_aZlvh]jhfgmx ijy^vqmlvebg_iheh\bgmk\hbo\hehk²Y ohqm\k_]^Zihfgblvh lhfqlhy l\hykem`ZgdZb _keb dh]^Zgb[m^v fhy hf_jabl_evgZy ]hj^hklv kgh\Z hke_ibl f_gy ihdZ`b fg_ wlb \hehku b kdZ`b©>_ehg_\ ex[\bb g_\ lhfdZdh_qm\kl\h\eZ^__lk_cqZk\Zr_c^mrhc\uihdeyebkv fg_ih\bgh\Zlvky²ba\hevl_`_^_j`Zlvkeh\hª GZke_^mxs__mljhkljZklv_s_\eZ^__l_xk lhc`_kbehck AZ aZ\ljZdhf \k_ ih\_^_gb_ FZlbev^u \iheg_ khhl\_lkl\h\Zeh __ hijhf_lqb\hc \uoh^d_ Fh`gh [ueh ih^mfZlv qlh _c g_ l_ji_ehkv h[ty\blv \k_fm k\_lm dZdmx [_amfgmx kljZklv iblZ_lhgZd @xev_gm Ghm`_gZke_^mxsbc^_gvhgZ\iZ^Z_l\ ijhlb\hiheh`gmxdjZcghklvk ?_ih^Z\eyehg_\ughkbfh_khagZgb_qlhhgZ^ZeZdZdb_lhijZ\ZgZ^kh[hcwlhfmihibdm kugm^_j_\_gkdh]hfm`bdZ©Wlh\jh^_lh]h_keb[ufg_ijbrehkvkhagZlvkykZfhck_[_qlhy \ex[beZkv\ eZd_yª²]h\hjbeZhgZk_[_\ hlqZygbbjZa^m\Zyk\h_g_kqZklv_ >Z`_ dh]^Z FZlbev^_ dZ`_lky qlh hgZ ^_j`bl k_[y k \_ebqZcrbf ^hklhbgkl\hf __ ih\_^_gb_iheghwdkiZgkb\guodjZcghkl_ck K_j^p_FZlbev^uebdh\Zehmib\Zykv]hj^hklvx\hlhgZb ihj\ZeZ\k_jZab gZ\k_]^ZHgZ [ueZ g_h[udgh\_ggh kqZkleb\Z qlh _c m^Zehkv h^_j`Zlv [e_klysmx ih[_^m gZ^ wlhc lZd kbevgh h^he_\r_c __ keZ[hklvx ©L_i_jv wlhl fZevqbrdZ ihcf_l gZdhg_p qlh hg g_ bf__l b gbdh]^Z g_ [m^_l bf_lv gZ^h fghc gbdZdhc \eZklbª HgZ [ueZ ^h lh]h kqZkleb\Z qlh \ wlm fbgmlm^_ckl\bl_evghg_bkiulu\ZeZgbdZdhcex[\b Gh ke_^mxs_]h ih\hjhlZ \ qm\kl\Zo g_ ijboh^blky ^he]h `^Zlv oheh^ghklv k dhlhjhc @xev_g l_i_jv ^_fhgkljZlb\gh hlghkblky d FZlbev^_ kgh\Z \uau\Z_l \ g_c iuedb_ qm\kl\Z G_ih^e_`blkhfg_gbxqlhdZd\h\k_oijb\_^_gguolZdb \hfgh]bo^jm]bowfhpbhgZevguo ijhy\e_gbyoFZlbev^u^_eyFhevaZdexq_ghg_fZehiZnhkZkeh\Zb ihklmidb__dhg_qghg_ \k_]^Z bkdj_ggb B \k_ `_ i_j_^ gZfb lbibqgZy kljZklgZy gZlmjZ bah[jZ`_ggZy k g_dhlhjuf ihwlbq_kdbfij_m\_ebq_gb_f< dhjg_hlebqZ_lkyhlFZlbev^ufZ^Zf^_J_gZevdhlhjZylZd`_ bkdj_gg_ex[bl@xev_gZQm\kl\Z__ohlyg_lZdkbevgug_lZd`]mqbdZdqm\kl\ZFZlbev^u gh g_ f_g__ ]em[hdb Fh`gh iheZ]Zlv qlh fZ^Zf ^_ J_gZev ² ebqghklv wfhlb\gZy D kh`Ze_gbxikboheh]bywlhc]_jhbgb\ jhfZg_hibkZgZbkdexqbl_evgh \ ex[h\ghfZki_dl_ Z ke_^h\Zl_evghkZfZ]em[bgZ__ qm\kl\fh`_l[ulvh[mkeh\e_gZkhdjmrbl_evghckbehcex[\b dhlhjhxhgZho\Zq_gZ;hevrZyfZl_jbgkdZy ex[h\v fZ^Zf ^_ J_gZev mihfbgZ_fZy \ jhfZg_ hibkZgZa^_kvg_^hklZlhqghgh\k_`_b hgZaZklZ\ey_lebrgbcjZaih^mfZlvh lhfqlhi_j_^ gZfbebqghklvwfhlb\gZyDjZcghklb\ ih\_^_gbb\ jhfZg_©B^bhlªfugZ[ex^Z_fg_lhevdhm GZklZkvb Nbebiih\gu gh lZd`_b m __ khi_jgbpu :]eZb HgZ lh`_ kdehggZ d bfimevkb\guf ihklmidZf Gh a^_kv j_qv b^_l h ijhy\e_gbb h[s_c g_mjZ\gh\_r_gghklb \ xghf \hajZkl_ :]eZy_s_ihqlbj_[_ghdhgZkdehggZd l_fdjZcghklyfdhlhju_k\hckl\_gguex^yf\ i_jbh^ hljhq_kl\Z b Z jZgg_c xghklb M wlhc fheh^_gvdhc ^_\mrdb djhf_ lh]h g_l gbdZdh]h `bag_ggh]h hiulZ HgZ g_ kihkh[gZ kijZ\blvky k qm\kl\hf \g_aZigh ho\Zlb\r_c __ ex[\b d dgyax hgZ lh hllZedb\Z_l lh kgh\Z ijb[eb`Z_l _]h d k_[_ ijbq_f qZs_ hllZedb\Z_l qlh oZjZdl_jgh^eygZlmjbfimevkb\guoQbklhxghr_kdmxkdehgghklvd djZcghklyfh[gZjm`b\Z_l \ jhfZg_ b r_klgZ^pZlbe_lgbc Biihebl Ij_h[eZ^Zgb_ \jZ`^_[guo b q_eh\_dhg_gZ\bklgbq_kdbo Znn_dlh\ m BiiheblZ mdZau\Z_l gZ iZlheh]bq_kdh_ jZa\blb_ Ijbqbghcwlh]hy\behkv_]haZ[he_\Zgb_lm[_jdme_ahfBiihebljZghmfbjZ_lhllm[_jdme_aZ ² qZohlhqguc xghrZ haeh[e_g h`_klhq_g ijhlb\ \k_o Xghr_kdZy qj_af_jghklv qm\kl\ dhlhjZy \ i_jbh^_ ©[mjb b gZlbkdZª ijhy\ey_lky m ]_jh_\ \ kljZklghklb j_Zdpbc \_kvfZ yjdh ij_^klZ\e_gZ m h^gh]h ba ]eZ\guo i_jkhgZ`_c ©<hcgu b fbjZª ² GbdheZy Jhklh\Z Hg k \hh^mr_\e_gb_f b^_l gZ \hcgm ^mfZy lhevdh h keZ\_ gh klhedgm\rbkv k j_Zevgufb hiZkghklyfb[bl\u\iZ^Z_l\ ^jm]mxdjZcghklvlk B jZa]hjyq_ggZy qm`Zy nbabhghfby wlh]h q_eh\_dZ dhlhjuc kh rludhf gZ i_j_\_k k^_j`b\Zy ^uoZgb_ e_]dh ih^[_]Ze d g_fm bkim]ZeZ Jhklh\Z Hg ko\Zlbe ibklhe_l b \f_klh lh]hqlh[uklj_eylvbag_]h[jhkbebf\ njZgpmaZb ih[_`Zed dmklZfqlh[uehkbeuG_k l_f qm\kl\hfkhfg_gbyb [hjv[uk dhlhjufhgoh^begZWgkdbcfhkl[_`ZehgZ kqm\kl\hfaZcpZ m[_]Zxs_]h hl kh[Zd H^gh g_jZa^_evgh_ qm\kl\h kljZoZ aZ k\hx fheh^mx kqZkleb\mx `bagv \eZ^_eh\k_f_]hkms_kl\hf Ijhoh^bl g_fgh]h \j_f_gb b GbdheZc m`_ kgh\Z hijZ\beky hg gZqbklh aZ[ue h k\h_f g_^hklhcghfih\_^_gbb\h\j_fy[hyb bkdj_gg_]hj^blkyl_fqlhijbgbfZe\ g_fmqZklb_Hg ho\Zq_g\hh^mr_\e_gb_fdh]^ZpZjvihy\ey_lkygZnjhgl_b f_qlZ_lh [eZ`_gkl\_mf_j_lvaZ k\h_]h pZjy Hg kh\_jr_ggh aZ[ue h g_^Z\g_c j_Zevghc \hafh`ghklb hl^Zlv `bagv aZ wlh]h pZjy dh]^Z ]hgbfuc kljZohf b hlqZygb_f m^bjZe dZd aZyp Xguc \hajZkl GbdheZy ih^q_jdb\Z_lkyg_kdhevdhgb`_dh]^ZZ\lhj]h\hjblh _]h©^h[jhffheh^hfk_j^p_ªK ]h^Zfb wlb xghr_kdb_ ]bi_j[hebabjh\Zggu_ qm\kl\Z moh^yl GbdheZc Jhklh\ \ ^Zevg_cr_f g_ hlebqZ_lkyba[uldhfwfhpbcK\hc^he]\ hlghr_gbbjh^bguhgjZkkfZljb\Z_ll_i_jv\_kvfZ lj_a\hlk GbdheZcJhklh\[_a\kydhcp_ebkZfhih`_jl\h\ZgbyZ kemqZcghlZddZd\hcgZaZklZeZ_]h gZ kem`[_ ijbgbfZe [ebadh_ b ijh^he`bl_evgh_ mqZklb_ \ aZsbl_ hl_q_kl\Z b ihlhfm [_a hlqZygbyb fjZqguomfhaZdexq_gbckfhlj_egZlhqlhkh\_jrZehkvlhevdh\ Jhkkbb?keb[um g_]hkijhkbebqlhhg^mfZ_lh l_i_j_rg_fiheh`_gbbJhkkbblhhg[ukdZaZeqlh_fm^mfZlv g_q_]hqlhgZlh_klvDmlmah\b ^jm]b_ LZdbf h[jZahf \ aj_ehf \hajZkl_ GbdheZc Jhklh\ klZe kh\k_f ^jm]bf q_eh\_dhf <k_ ih\ur_ggu_j_ZdpbbGZlZrbk_kljuGbdheZylZd`_hlghkylkyd jZgg_fm^_\bqv_fm\hajZklm Kh\k_f g_aZ^he]h ^h lh]h dZd hgZ \ex[beZkv \ :gZlhey fu _s_ qblZ_f h lhf `b\hf bfimevkb\ghf ^_lkdhf kdeZ^_ GZlZrb dhlhjuc kihkh[kl\m_l \dexq_gbx __ [_a hklZldZ \ kh[ulby ijhbkoh^ysb_ \ ^Zgguc fhf_gl Bf_ggh k wlbf ih`Zemc k\yaZgh lh \hkobs_ggh_ h[h`Zgb_dhlhjufhdjm`Zxlwlhlh[jZaqblZl_eb WdaZevlbjh\Zggh^_fhgkljZlb\gu_ebqghklb Hlebqblv \aju\u Znn_dlZ m ebqghkl_c wdaZevlbjh\Zgguo hl bkl_jbq_kdhc l_ZljZevghklb ihfh`_l ZgZeba ebqghklb h[eZ^Zxs_c h^gh\j_f_ggh wdaZevlbjh\Zgguf l_fi_jZf_glhf b ^_fhgkljZlb\guf oZjZdl_jhf RlZ[kdZiblZg Kg_]bj_\ ©;jZlvy DZjZfZah\uª >hklh_\kdh]h g_hibkm_fhkljZ^Z_l\ k\yabk [he_agvxZ aZl_fb kf_jlvxkugbrdbHggZ^__lkymkeurZlvhl \jZqZohlvh^gh^\Zml_rbl_evguokeh\Zk² RlZ[kdZiblZgklj_fbl_evgh\ukdhqbe\ke_^aZ^hdlhjhfbkh]gm\rbkvihqlbba\b\Zykv i_j_^gbfhklZgh\be_]h^eyihke_^g_]hkeh\ZEbph[_^gydZ[uehm[blh_\a]ey^bkim]Zgguc ² <Zr_ ij_\hkoh^bl_evkl\h \Zr_ ij_\hkoh^bl_evkl\h G_m`_eb" ² gZqZe [ueh hg b g_ ^h]h\hjbeZ ebrv\kie_kgmejmdZfb\ hlqZygbbohly\k__s_k ihke_^g_xfhev[hckfhljygZ ^hdlhjZlhqgh\ kZfhf^_e_hll_i_j_rg_]hkeh\Z^hdlhjZfh]baf_gblvkyijb]h\hjgZ^[_^guf fZevqbdhfHgg_^h]h\hjbedZd[uaZoe_[gm\rbkvb himklbeky\ [_kkbebbi_j_^^_j_\ygghx eZ\dhx gZ dhe_gb Klbkgm\ h[hbfb dmeZdZfb k\hx ]heh\m hg gZqZe ju^Zlv dZdlh g_e_ih \a\ba]b\Zybah\k_ckbeudj_iykvh^gZdhqlh[ug_mkeurZeb_]h\a\ba]h\\ ba[_ Kg_]bj_\bkiheg_gbkdj_gg_cb ]em[hdhc[hebfuqm\kl\m_f_]hg_ih^^_evgh_hlqZygb_ B \k_`_d ]em[hdhc[heb\hafh`ghijbf_rb\Z_lkyg_dhlhjZy^heyl_ZljZevghklbGZijbf_j dh]^ZKg_]bj_\magZ_lqlh_]hkugmdmkbe:e_rmaZiZe_phgjZajZ`Z_lkyke_^mxs_clbjZ^hc k² ²@Ze_xkm^Zjvh \Zr_fiZevqbd_ghg_ohlbl_ebyij_`^_q_fBeexr_qdmk_qvk\hb q_luj_iZevpZk_cqZk`_gZ\Zrbo]eZaZo^ey\Zr_]hkijZ\_^eb\h]hm^h\e_l\hj_gby\hlwlbf kZfufgh`hfhllyiZxQ_luj_olhiZevp_\y ^mfZx\Zf[m^_l^h\hevghk ^eymlhe_gby`Z`^u fs_gbykiylh]hg_ihlj_[m_l_" Hg _s_ g_dhlhjh_ \j_fy ijh^he`Z_l ih^h[gu_ iZl_lbq_kdb_ j_qb jZa]eZ]hevkl\h\Zgby ihdZ _]h g_ ij_ju\Z_l ^hqv djbqZ ba khk_^g_c dhfgZlu qlh[u hg i_j_klZe gZdhg_p \Zeylv ^mjZdZ Dh]^Z :e_rZ \jmqZ_l Kg_]bj_\m jm[e_c i_j_^Zgguo rlZ[kdZiblZgm DZl_jbghc B\Zgh\ghcfukgZqZeZgZ[ex^Z_fg_mf_j_ggmxwdaZevlZpbx\ nhjf_dhlhjhcijhy\ey_lkygZ wlhl jZa \hklhj] ©;_^gydª dZd gZau\Z_l _]h >hklh_\kdbc ihkl_ i_ggh ijboh^bl ©\ dZdhclh [_kihjy^hqgucihqlb^bdbc\hklhj]ª?]h`b\ZynZglZabyjbkm_l_fmdZjlbgulh]hgZqlhhg kfh`_l ihljZlblv wlb^_gv]b KqZklv_ aZo\Zlu\Z_l _]h ² gZdhg_plh ly`_eZy `bagv _]h b _]h k_fvbdhgqblkyGhlml`_gZkljh_gb_Kg_]bj_\Zkgh\Zbaf_gy_lkyM g_]hf_evdZ_lfukevqlh _]h kug khql_l mgbabl_evguf _keb hl_p ijbf_l ^_gv]b Wlh khagZgb_ ijbqbgy_l _fm g_\ughkbfmx[hevb lmlkgh\Z_]hkljZ^Zgbyijbh[j_lZxlgZe_ll_ZljZevghklbk ²<b^_ebk\b^_ebk²\a\ba]gmehg:e_r_[e_^gucb bkklmie_ggucb \^jm]ih^gy\ \\_jodmeZdkh\k_]hjZafZom[jhkbeh[_kfylu_dj_^bldbgZi_khd²\b^_ebk"²\a\ba]gme hghiylvihdZau\ZygZgboiZevp_f²gmdZd\hl`_k²B \^jm]ih^gy\ijZ\mxgh]mhgk ^bdhxaeh[hc[jhkbekybolhilZlvdZ[emdhf\hkdebpZyb aZ^uoZykvk dZ`^ufm^Zjhfgh]b² <hl \Zrb ^_gv]bk <hl \Zrb ^_gv]bk ² <^jm] hg hlkdhqbe gZaZ^ b \uijyfbeky i_j_^ :e_r_c<_kv\b^_]hbah[jZabekh[hcg_batykgbfmx]hj^hklv H^gZdh ihke_ wlhc \kiurdb l_ZljZevghklv bkq_aZ_l \ _]h ih\_^_gbb \ _]h keh\Zo qm\kl\m_lkyih^ebggZy[hevk Gh b hiylv g_ ijh[_`Z\ iylb rZ]h\ hg \ ihke_^gbc m`_ jZa h[_jgmeky gZ wlhl jZa [_a bkdjb\e_ggh]h kf_oZ \ ebp_ Z gZijhlb\ \k_ hgh khljykZehkv ke_aZfb IeZqms_x kju\Zxs_xky aZoe_[u\Zxs_xky kdhjh]h\hjdhc ijhdjbqZe hg ©: qlh `_ [u y fh_fm fZevqbdmlhkdZaZe_keb[ m\Zk^_gv]baZihahjgZr\aye"ª Bgl_j_kgh qlh \ h[jZa_ Kg_]bj_\Z >hklh_\kdbc bah[jZabe bkl_jbdZ k ]em[hdbfb ^mr_\gufb i_j_`b\Zgbyfb k wdaZevlbjh\Zggufb e_]dh \ha[m^bfufb qm\kl\Zfb DZd m`_ ]h\hjbehkv g_ lhevdh Zdl_ju gh b ibkZl_eb b om^h`gbdb qZklh khq_lZxl \ k_[_ q_jlu bkl_jbq_kdhcb wdaZevlbjh\Zgghcebqghklb Bgljh\_jlbjh\Zggu_ebqghklb Hl \gbfZgby ibkZl_e_c g_ mkdhevagmeh qlh qj_af_jgZy kl_i_gv bgljh\_jlbjh\Zgghklb \ khq_lZgbb k ^Ze_dbfb hl `bagb b^_yfb dhlhju_ h[uqgh khimlkl\mxl _c g_j_^dh [u\Z_l khijy`_gZ k k_jv_agufb ikbobq_kdbfb hldehg_gbyfb H^gZdh kgZqZeZ y ijb\_^m ijbf_j bgljh\_jlbjh\Zgghc ebqghklb \iheg_ `bag_gghc g_ aZdexqZxs_c \ k_[_ gbq_]h iZlheh]bq_kdh]h G_^Zjhf \ k\h_f ZgZeba_ y hklZgZ\eb\Zx \gbfZgb_ gZ h[jZa_ ijhklh]h dj_klvygbgZ >_eh \ lhf qlh kdehgghklv d jZafure_gbyf b nhjfbjh\Zgbx ebqguo hp_ghd jZaguo kh[ulbc m ex^_c fZeh h[jZah\Zgguo kh \k_c hij_^_e_gghklvx mdZau\Z_l gZ bgljh\_jlbjh\ZgguckdeZ^ebqghklb©=ZgkBh]]_eb²[h]Zluc^y^xrdZªdhlhjh]hhibku\Z_l =hlo_euj ² ohehklyd M`_ h^gh wlh k\b^_l_evkl\m_l h lhf qlh hg gbdh]^Z g_ bkiulu\Ze hkh[hc ihlj_[ghklb \klmiblv \ [ebadbc dhglZdl k hdjm`Zxsbfb IjZ\^Z \ ^_j_\_gkdbc dZ[ZqhdhgaZoh^bldZdb ^jm]b_gh\ jZa]h\hjZomqZkl\m_lfZehM k_[y^hfZhglZd`_\_^_l ^h\hevghaZfdgmluch[jZa`bagbh[sZykvebrvk fheh^ufb[ZljZdZfbb [ZljZqdZfbghb hl gbo^_j`blkygZjZkklhygbb Ih k_em oh^blh[uqghh^bg B l_f g_ f_g__hg kihkh[_g mf_eh eh\dh h[jZsZlvky k ex^vfb dh]^Z ihy\ey_lky ihlj_[ghklv beb \ugm`^Zxl d lhfm h[klhyl_evkl\Z hg \_^_l ^he]b_ h[klhyl_evgu_ [_k_^u \h \j_fy dhlhjuo hlebqgh ijbkihkZ[eb\Z_lky d \gmlj_gg_fm fbjm kh[_k_^gbdZ Hg mki_rgh kijZ\ey_lky kh k\hbfb gZahceb\ufbjh^kl\_ggbdZfbfgh]b_badhlhjuoiulZxlky\l_j_lvkyd g_fm\ ^h\_jb_qlh[u hg g_ aZ[ue mihfygmlv bo \ k\h_f aZ\_sZgbb DZ`^uc evklbl Bh]]_eb klZjZykv hq_jgblv khi_jgbdh\ Bh]]_eb kihdhcgh \k_o \ukemrb\Z_l ^_eZy ex[_agu_ aZf_qZgby b gb keh\hf g_ gZf_dZ_l gZ lh qlh ^mfZ_l h gbo \ ]em[bg_ ^mrb <hl dZd hibku\Z_l =hlo_evn jZa^jZ`_gb_ h^ghcbajh^kl\_ggbpBh]]_ebk <ha\jZsZykv ^hfhc hgZ \hjqZeZ k_[_ ih^ ghk m wlh]h qm^ZdZ gbdh]^Z gbq_]h ihgylv g_evay JZa\_ ih g_fm jZa[_j_rv dZd hg d l_[_ hlghkblky" >Z b dj_idbc hg ^y^_gvdZ dlh _]h i_j_`b\_l" Hg _s_ q_]h ^h[jh]h [m^_l gZrbfblh dhklyfb hj_ob k[b\Zlv k ^_j_\v_\ Kdmiu_ ex^b ² hgb \k_ lZdb_ hgb ijhklh g_ fh]ml mf_j_lv bo \_jgh m`_ ihke_ kljZrgh]h km^Z ^h[b\Zlv[m^mlZ [he__hlqZyggh]hkdjy]mq_fBh]]_ebk\_lg_\b^Ze>mjZy djm]eZyqlh\k_ ^mfZxh[wlhfgZke_^kl\_ DZd[blvhg k_cqZk kdZaZe" DZdh\Z m q_eh\_dZ km^v[Z ^Zkdhevdh m g_]h ^h[jZ ² \k_ \ jmdZo [h`vbo :o klZjuc ieml Qm_l fh_ k_j^p_ qlh \k_ wlh ajy b qlh hklZg_fkyfu\k_gb kq_f M ij_l_g^_glh\gZgZke_^kl\h\ fukeyoh^ghZ m=ZgkZBh]]_eykh\k_f^jm]h_HggZkd\hav \b^bl b]jm dhlhjmx hgb \_^ml \ gZ^_`^_ hlo\Zlblv dmkhq_d _]h ^h[jZ gh g_ iblZ_l d gbf aeh[u Hlkx^Z fh`gh aZdexqblv qlh _]h k^_j`Zgghklv b aZfdgmlhklv ebr_gu Znn_dlb\ghc [Zau l _ bgljh\_jlbjh\Zgghklv Bh]]_eb g_ k\yaZgZ k Znn_dlb\gufb klbfmeZfb kh klhjhgu hdjm`ZxsboDh]^Zihk_s_gbyjh^kl\_ggbdh\m`kebrdhfly]hlyl_]hhgijhy\ey_lg_dhlhjh_ g_m^h\hevkl\b_bebklZjZ_lkyk[_`ZlvgZk\h_ihe_ghg_[he__Kihdh_ghgb lh]^Zdh]^Z_]h bfimevkb\gZy ^\hxjh^gZy k_kljbpZ \u^Z_l k\h_ jZa^jZ`_gb_ ih ih\h^m lh]h qlh klZjbd Bh]]_eb_s_lZd[h^jh^_j`blkyk =ZgkBh]]_ebkihdhcghih^`b^Ze__ ijboh^Z\ ihf_s_gbb©>h[jh]h\Zfa^hjh\vy[jZl_p p_jdh\guc klZjhklZª ² kdZaZeZ hgZ \oh^y b ijhly]b\Zy _fm jmdm ©<u \k_ lZdhc `_ ² [h^juckh\k_f_s_fheh^hcwlhf_gybkdj_gg_ jZ^m_lª ² ©>Z ^Z keZ\Z ]hkih^m qm\kl\mx k_[y g_iehoh Z _keb gZ lh [m^_l [h`vy \hey lh kh[bjZxkv b _s_ g_fgh]h ihihevah\Zlvky `bagvx ;Z[mrdZ fhy ^h`beZ ^h ^_\yghklZ k_fb e_l Z fg_ fgh]h jZa ]h\hjbeb qlh y hq_gv ihoh`gZ^_^Zb [Z[dm²©H^ZjZamf__lky²kdZaZeZ`_gsbgZ²ij_djZkguc\hajZkly [u `_eZeZ\Zf^hg_]h^h`blvIjZ\^Zy [uih`ZemclZd^he]hg_\u^_j`ZeZijhiZeZ[uk lhkdb : qlh ^_^ \Zr hg dZ`_lky mf_j kh\k_f fheh^uf"ª ² ©>Z ² kdZaZe klZjhklZ ² hg miZe k ^_j_\Zghex^bagZ\rb__]h\k_]^Z]h\hjbebqlh_keb[ g_wlhg_kqZklv_lhhg`be[u^hklZ e_lª M`_ ba wlhc [_k_^u fu fh`_f k^_eZlv \u\h^ qlh =Zgk Bh]]_eb [hevrhc rmlgbd hg ijbagZ_lwlhb kZfk Dlhh^ghcgh]hcklhbl\ fh]be_lhfmg_evaym`_gb e]Zlvgb ^mjZqblvex^_cY g_h^bg jZa mqZkl\h\Ze \ jZaguo rmldZo fgh]bo ex^_c \h^be aZ ghk Z k_cqZk y ijZ\h g_ ex[ex h[ wlhf\kihfbgZlv Ih^kf_b\Zykv gZ^ ex^vfb Bh]]_eb gbdh]^Z g_ \ukdZau\Z_lky ijyfh Z h]jZgbqb\Z_lky gZf_dZfbLZdhgh[jZsZ_lkyd h^ghfmba^\hxjh^guo[jZlv_\dhlhjuclh`_`Z`^_lihemqblv gZke_^kl\hjZkkdZau\Zyh ^jm]hfjh^kl\_ggbd_k ² Y _]h dj_klguc b djhf_ lh]h ² lZd ml\_j`^Zxl ² ^\hxjh^guc [jZ] KZf y wlh]h lhqghg_agZxfhy]heh\ZkebrdhffZeZqlh[u\f_klblvlZdmx]jhfZ^gmxjh^gxbgh]^Zfg_ \hh[s_ dZ`_lky qlh dZ`^uc ]h^ keh\gh ba a_feb \ue_aZxl dZdb_lh fhb gh\u_ ^\hxjh^gu_ [jZlvyb k_kljugmijyfhlZdbdZdgZlmjZevgucde_\_jgZohjhrh\ha^_eZgghfmqZkld_ GZf_db \f_klh hldjulh]h \ukdZau\Zgby h \_sZo b y\e_gbyo oZjZdl_jgu ^ey bgljh\_jlbjh\Zgghklb Kdehgghklv kljhblv hl ghr_gby \ ihemrmleb\hf ieZg_ k\hckl\_ggZ ij_bfms_kl\_ggh bgljh\_jlbjh\Zgguf ebqghklyf b[h \ hkgh\_ lZdbo hlghr_gbc e_`bl kdjulZy\gmlj_ggyyb]jZmfZ IjbgylhkqblZlvqlhdhfbq_kdb_jZkkdZaqbdb\uau\Zxsb_^jm`gucohohl\k_]haZeZ² ebqghklb wdkljZ\_jlbjh\Zggu_ ?keb wlh ^_ckl\bl_evgh lZd lh hgb \ha^_ckl\mxl gZ im[ebdm `b\hklvxfZg_j[e_klysbfbkiheg_gb_faZjZg__ih^]hlh\e_gguoZg_d^hlh\b rmlhdH^gZdh l_jZkkdZaqbdbdhlhju_bfijh\babjmxlk\hbhjb]bgZevgu_hkljhludZdgZijbf_jfxgo_gkdbc dhfbd<Ze_glbgihk\h_fmikbobq_kdhfmkdeZ^my\eyxlkybgljh\_jlbjh\Zggufbebqghklyfb K\_^_gbyh qZklghc`bagbdZjbdZlmjbklZ<bev]_evfZ;mrZaZklZ\eyxlgZkij_^iheh`blvh g_f lh `_ kZfh_ =Zgk Bh]]_eb `b\_l k\h_c \gmlj_gg_c `bagvx gh hg g_ m^Zey_lky hl ^_ckl\bl_evghklbgZijhlb\hp_gb\Z_l__lj_a\hb emqr_\k_ohdjm`ZxsboWlhgbkdhevdhg_ ijhlb\hj_qbl bgljh\_jlbjh\Zgghklb <hi_j\uo bgljh\_jlbjh\Zgghklv ebrv \ agZqbl_evghc kl_i_gbijb\h^bld ihy\e_gbxhlhj\Zgguohl`bagbb^_c\h\lhjuo=ZgkBh]]_eb²ijhklhc dj_klvygbg m dhlhjh]h \ `bagb g_ [ueh klbfmeh\ d \ujZ[hld_ Z[kljZdlgh]h fure_gby ?kl_kl\_ggh qlh bgljh\_jlbjh\Zgghklv Bh]]_eb ebrv jZkrbjy_l _]h km`^_gby h ^Zgguo nZdlZo gh g_ \e_q_l aZ kh[hc hiZkghklb ihegh]h hlju\Z hl ^_ckl\bl_evghklb ;he__ yjdh \ujZ`_ggmx bgljh\_jlbjh\Zgghklv gZ[ex^Z_f m Hj^ugh\Z ba ih\_klb >hklh_\kdh]h ©OhaycdZª< wlhfkemqZ_lZdZyhkh[_gghklvebqghklb]jZgbqblk ikbobq_kdbfaZ[he_\Zgb_fK ^_lkl\Z Hj^ugh\ ihqlb g_ \klmiZ_l \ dhglZdl k hdjm`Zxsbfb \hafh`gh g_ lhevdh baaZ bgljh\_jlbjh\Zgghklb gh lZd`_ baaZ k\h_c keZ[hc h[sbl_evghklb Hg `b\_l \ k\h_f \gmlj_gg_ffbj_k ?s_ \ ^_lkdbo e_lZo hg ijhkeue qm^Zdhf b [ue g_ihoh` gZ lh\Zjbs_c Jh^bl_e_c hg g_ agZe hl lh\Zjbs_c aZ k\hc kljZgguc g_ex^bfuc oZjZdl_j l_ji_e hg [_kq_eh\_qghklv b ]jm[hklv hl q_]h k^_eZeky ^_ckl\bl_evgh g_ex^bf b m]jxf b fZehihfZem m^Zjbeky \ bkdexqbl_evghklv Gh \ m_^bg_gguo aZgylbyo _]h gbdh]^Z ^Z`_ b l_i_jv g_ [ueh ihjy^dZ b hij_^_e_gghc kbkl_fu l_i_jv [ue h^bg lhevdh i_j\uc \hklhj] i_j\uc `Zj i_j\Zy ]hjyqdZ om^h`gbdZ Hg kZf kha^Z\Ze k_[_ kbkl_fm hgZ \u`b\ZeZkv \ g_f ]h^Zfb b \ ^mr_ _]h fZeh ihfZem\hkklZ\Ze_s_l_fgucg_ykgucghdZdhclh^b\ghhljZ^guch[jZab^_b\hiehs_gguc \ gh\mx ijhk\_le_ggmx nhjfm b wlZ nhjfZ ijhkbeZkv ba ^mrb _]h l_jaZy wlm ^mrm hg _s_ jh[dhqm\kl\h\Zehjb]bgZevghklvbklbgmb kZfh[ulghklv__l\hjq_kl\hm`_kdZau\ZehkvkbeZf _]hhghnhjfbjh\Zehkvb dj_ieh >he]h_\j_fyHj^ugh\kh\k_fg_klZedb\Zekyk ex^vfbGhhg\ugm`^_g\klmiZlvk gbfb\ dhglZdl baaZ g_h[oh^bfhklb ih^ukdZlv k_[_ gh\mx d\Zjlbjm <h \j_fy wlbo ihbkdh\ hg kZf k_[_dZ`_lky©hlqm`^_ggufªk L_i_jv hg oh^be ih mebpZf dZd hlqm`^_gguc dZd hlr_evgbd \g_aZigh \ur_^rbc ba k\h_cg_fhcimklugb\ rmfgucb ]j_fysbc]hjh^<k__fmdZaZehkvgh\hb kljZgghGhhg^h lh]h [ue qm`^ lhfm fbjm dhlhjuc dbi_e b ]jhohlZe djm]hf g_]h qlh ^Z`_ g_ ih^mfZe m^b\blvkyk\h_fmkljZgghfmhsms_gbx Hj^ugh\Z gbdh]^Z _s_ gbdlh g_ ex[be hg kZf lZd`_ _s_ g_ bkiulu\Ze wlh]h qm\kl\Z Ihwlhfm\kiuogm\rZy ex[h\v ih]ehsZ_l _]h \k_p_eh Z ihke_^ms__ jZahqZjh\Zgb_ \_jhylg__ \k_]hih]m[bl_]hb[h\ dhgp_ih\_klb>hklh_\kdbcibr_lk FZehihfZem Hj^ugh\ h^bqZe _s_ [he__ ij_`g_]h \ q_f gm`gh hl^Zlv kijZ\_^eb\hklv _]hg_fpugbkdhevdh_fmg_f_rZebHgqZklhex[be[jh^blvihmebpZf^he]h[_ap_ebHg \u[bjZe ij_bfms_kl\_ggh kmf_j_qguc qZk Z f_klh ijh]medb ² f_klZ ]emob_ hl^Ze_ggu_ j_^dhihk_sZ_fu_gZjh^hf >ey ikbobZljZ wlZ dZjlbgZ ykgZ i_j_^ gZfb Zmlbklbq_kdbc ikbohiZl klhev \ukhdhc kl_i_gb qlh _]h fh`gh gZa\Zlv rbahb^hf dhlhjuc ih^ \ebygb_f kbevg_crbo ^mr_\guo ihljyk_gbc ij_\jZsZ_lky \ Zmlbklbq_kdh]h rbahnj_gbdZ ?s_ h^bg i_jkhgZ` >hklh_\kdh]h B\Zg kj_^gbc ba [jZlv_\ DZjZfZah\uo lZd`_ \_kvfZ [ebahd d ^mr_\ghfm aZ[he_\Zgbx Hg ihklhyggh aZgyl jZaebqgufb nbehkhnkdbfb b j_eb]bhagufb \hijhkZfb b \ugZrb\Z_l kh[kl\_ggu_hjb]bgZevgu_b^_bijhlb\hj_qZsb_dZdijZ\behb^_yfb \a]ey^Zf[hevrbgkl\Z hdjm`Zxsbo ex^_c K l_abkhf ©\k_ ^ha\he_ghª d dhlhjhfm hg ijbr_e iml_f nbehkhnkdbo \udeZ^hd B\Zg agZdhfbl b Kf_j^ydh\Z Z lhl \hafh`gh b bkoh^be ba wlh]h l_abkZ dh]^Z j_rbeky gZ m[bckl\h N_^hjZ IZ\eh\bqZ DZjZfZah\Z <klZ\gmx gh\_eem j_eb]bhagh nbehkhnkdh]hkh^_j`Zgby©<_ebdbcbgd\bablhjª>hklh_\kdbclZd`_\deZ^u\Z_l\ mklZB\ZgZ KlZgh\blky eb wlhl i_jkhgZ` ih^ dhg_p gZ kZfhf ^_e_ ikbobq_kdb [hevguf beb ^_eh h]jZgbqb\Z_lky ebrv ©g_j\ghc ]hjyqdhcª ² hklZ_lky g_ykguf GZdhg_p y\ghc ^mr_\ghc [he_agvx kljZ^Z_l >hg Dbohl Fh`_l ihdZaZlvky g_mf_klguf ZgZeba wlh]h h[jZaZ \ jZfdZo Zdp_glmZpbbebqghklbH^gZdh\ wlhfaZ[he_\Zgbb\ Zki_dl_f_^bpbgkdhfikbobZljbq_kdhf² kebrdhf m` fgh]h g_khhl\_lkl\bc >mr_\gh_ aZ[he_\Zgb_ >hg DbohlZ ij_^klZ\ey_l kh [hc kdhj__ \_jrbgm ihjh`^_gguo bgljh\_jlbjh\Zgghklvx b^_c dhlhjmx K_j\Zgl_k bah[jZ`Z_l dhg_qghg_[_aihwl