de
Ø
.POUBHFBOMFJUVOH
6LFKHUKHLWVKLQZHLVH
-FTFO4JFEJF(FCSBVDITBOXFJTVOHG¼SEBT(FS¤UCFWPS4JFFT
JOTUBMMJFSFOVOECFOVU[FO
%JFJOEJFTFS"OMFJUVOHFOUIBMUFOFO"CCJMEVOHFOTJOEPSJFOUBUJW
'HU +HUVWHOOHU LVW MHJOLFKHU 9HUDQWZRUWXQJ HQWKREHQ ZHQQ GLH
%HVWLPPXQJHQGLHVHV+DQGEXFKVQLFKWHLQJHKDOWHQZHUGHQ
%JFTFT (FS¤U EBSG OVS BO FJOFN BVTSFJDIFOE CFM¼GUFUFO 0SU HFOVU[U
XFSEFO%BT(FS¤UEBSGOJDIUBOFJOFO4DIPSOTUFJOPEFSFJOF
"CHBTBOMBHFBOHFTDIMPTTFOXFSEFO
$OOH,QVWDOODWLRQV$QVFKOXVV5HJHOXQJVXQG8PVWHOOXQJV
DUEHLWHQ DXI HLQH DQGHUH *DVDUW PVVHQ YRQ HLQHP DXWRULVLHU
WHQ )DFKPDQQ XQG XQWHU %HDFKWXQJ GHU MHZHLOV DQZHQGEDUHQ
5HJHOXQJHQXQGJHVHW]OLFKHQ9RUJDEHQVRZLHGHU9RUVFKULI
WHQGHU|UWOLFKHQ6WURPXQG*DVYHUVRUJHUYRUJHQRPPHQ
ZHUGHQ %HVRQGHUH $XIPHUNVDPNHLW LVW GHQ IU GLH %HOIWXQJ
JHOWHQGHQ%HVWLPPXQJHQXQG5LFKWOLQLHQ]X]XZHQGHQ
)U8PVWHOOXQJVDUEHLWHQDXIHLQHDQGHUH*DVDUWHPSIHKOHQ
ZLUGHQ.XQGHQGLHQVW]XUXIHQ
%JFTFT(FS¤UXVSEFBVTTDIMJFMJDIG¼SEJF7FSXFOEVOHJO1SJWBU
IBVTIBMUFOFOUXPSGFOFJOFLPNNFS[JFMMFPEFSHFXFSCMJDIF/VU
[VOH JTU OJDIU HFTUBUUFU %JFTFT (FS¤U EBSG OJDIU BVG +BDIUFO PEFS JO
8PIOXBHFOFJOHFCBVUXFSEFO%JF(BSBOUJFHJMUOVSEBOOXFOO
EBT(FS¤UBVTTDIMJFMJDIG¼STFJOFOWPSHFTFIFOFO;XFDLHFOVU[U
XJSE
CFSQS¼GFO4JFWPSEFS*OTUBMMBUJPOEFT(FS¤UTEBTTEJF¶SUMJDIFO
7PSBVTTFU[VOHFOVOEEJFBVGEFN5ZQFOTDIJMEBOHFHFCFOFO
(FS¤UFFJOTUFMMVOHFO (BTBSU VOE ESVDL /FOOMFJTUVOH 4QBOOVOH
NJUFJOBOEFSLPNQBUJCFMTJOE
6WHOOHQ6LHYRUGHU'XUFKIKUXQJMHJOLFKHU$UEHLWHQGLH
6WURPXQG*DV]XIXKUDE
%BT /FU[LBCFM NVTT BN &JOCBVN¶CFM HVU CFGFTUJHU XFSEFO EBNJU
FTOJDIUNJUIFJFO5FJMFOEFT#BDLPGFOTPEFSEFT,PDIGFMEFTJO
#FS¼ISVOHLPNNFOLBOO
&MFLUSJTDIF(FS¤UFN¼TTFOJNNFSHFFSEFUXFSEFO
/FINFO4JFLFJOF"SCFJUFOJN(FS¤UFJOOFSFOWPS3VGFO4JF
HFHFCFOFOGBMMTVOTFSFO,VOEFOEJFOTUBO
9RUGHP(LQEDX
%JFTFT(FS¤UFOUTQSJDIU,MBTTFHFN¤%*/&/G¼S
(BTHFS¤UF&JOCBVHFS¤UF
%BT.¶CFMJOXFMDIFTEBT(FS¤UFJOHFCBVUXJSENVTTBVTSFJ
DIFOEGJYJFSUVOETUBCJMTFJO
%JF OFCFO EFN (FS¤U CFGJOEMJDIFO .¶CFM EFSFO 4DIJDIUXFSLTUPGGF
TPXJFEFSTJF[VTBNNFOIBMUFOEF-FJNE¼SGFOOJDIUBVTCSFOOCB
SFO.BUFSJBMJFOCFTUFIFOVOEN¼TTFOIJU[FCFTU¤OEJHTFJO
%JFTFT(FS¤UEBSGOJDIU¼CFS,¼IMTDIS¤OLFO8BTDINBTDIJOFO
4Q¼MNBTDIJOFOPEFS¤IOMJDIFO(FS¤UFOFJOHFCBVUXFSEFO
%BT,PDIGFMEEBSGOVS¼CFSFJOFNCFM¼GUFUFO#BDLPGFOFJOHFCBVU
XFSEFO
8JSEVOUFSEFN,PDIGFMEFJO#BDLPGFOFJOHFCBVULBOOEJF%JDLF
EFS"SCFJUTQMBUUFEJFNJOJNBMHFGPSEFSUF%JDLFJOEJFTFS"OMFJUVOH
¼CFSTDISFJUFO #FBDIUFO 4JF EJF )JOXFJTF JO EFS .POUBHFBOMFJUVOH
EFT#BDLPGFOT
8FOO FJOF %VOTUBC[VHTIBVCF BOHFCSBDIU XJSE NVTT EJFT HFN¤
EFS .POUBHFBOMFJUVOH VOE JNNFS VOUFS #FS¼DLTJDIUJHVOH EFT WFSUJ
LBMFO.JOEFTUBCTUBOET[VN,PDIGFME"CC HFTDIFIFO
9RUEHUHLWXQJGHV.FKHQP|EHOV$EE
/FINFO4JFJOEFS"SCFJUTGM¤DIFFJOFO"VTTDIOJUUNJUEFO
CFO¶UJHUFO"CNFTTVOHFOWPS
8FOO FT TJDI CFJ EFN ,PDIGFME VN FJO FMFLUSJTDIFT PEFS HFNJTDI
UFT,PDIGFME(BTVOEFMFLUSJTDIIBOEFMUVOETJDILFJO0GFOEBS
VOUFSCFGJOEFUCSJOHFO4JFFJOFO;XJTDIFOCPEFOBVTOJDIU
CSFOOCBSFN.BUFSJBM[#.FUBMMPEFS4QFSSIPM[ NNVOUFS
EFN#PEFOEFT,PDIGFMEFTBO4PXJSEFJO;VHBOH[VNVOUFSFO
5FJM EFT ,PDIGFMEFT WFSIJOEFSU8FOO FT TJDI CFJ EFN ,PDIGFME VN
FJO(BTLPDIGFMEIBOEFMUXJSEFNQGPIMFOEFO;XJTDIFOCPEFOJN
TFMCFO"CTUBOE[VN,PDIGFMEBO[VCSJOHFO
#FJ"SCFJUTGM¤DIFOBVT)PM[GJSOJTTFO4JFEJF4DIOJUUGM¤DIFONJU
4QF[JBMMFJNVNTJFWPS'FVDIUJHLFJU[VTDI¼U[FO
(LQEDXGHV*HUlWV
+LQZHLV ;VN&JOCBVFOEFT,PDIGFMEFT4DIVU[IBOETDIVIFWFS
XFOEFO
+FOBDI.PEFMMLBOOEJF,MFCFEJDIUVOHCFSFJUTJN8FSLBOHF
CSBDIU XPSEFO TFJO %JF ,MFCFEJDIUVOH EBOO LFJOFTGBMMT FOUGFSOFO
TJFWFSIJOEFSU%VSDITJDLFSO8FOOEJF%JDIUVOHOJDIUXFSLTFJUJH
BOHFCSBDIUXVSEFLMFCFO4JFTJFBOEFOVOUFSFO3BOEEFT,PDI
GFMET"CC
;VS#FGFTUJHVOHEFT(FS¤UTBN&JOCBVN¶CFM
4DISBVCFO4JFEJF,MBNNFSOJOEFSBOHFHFCFOFO1PTJUJPOBO
TPEBTTTJFTJDIGSFJESFIFO
'¼HFO4JFEBT,PDIGFMENJUUJHFJO
%S¼DLFO4JFEJF3¤OEFSTPMBOHFOBDIVOUFOCJTEFSHFTBNUF
3BOEBVGMJFHU
%SFIFO4JFEJF,MBNNFSOVOE[JFIFO4JFEJFTFGFTUBO
%JF1PTJUJPOEFS,MBNNFSOI¤OHUWPOEFS%JDLFEFS
"SCFJUTPCFSGM¤DIFBC"CC
$XVEDXGHV.RFKIHOGHV
5SFOOFO4JFEBT(FS¤UWPOEFS4USPNVOE(BTWFSTPSHVOH
4DISBVCFO 4JF EJF ,MBNNFSO BVG VOE GPMHFO 4JF EFO &JOCBVTDISJU
UFOJOVNHFLFISUFS3FJIFOGPMHF
*DVDQVFKOXVV$EE
"N &OEF EFT &JOHBOHTSPIST [VN (BTLPDIGFME CFGJOEFU TJDI FJO
ࣔ NN(FXJOEF%JFTFT(FXJOEFFSN¶HMJDIU
■ FJOFO'FTUBOTDIMVTT
■ FJOFO"OTDIMVTTNJUFJOFN.FUBMMTDIMBVDI- NJO N
NBY N
%JFNJUHFMJFGFSUFC[X¼CFSEFOUFDIOJTDIFO,VOEFOEJFOTUCF[P
HFOF%JDIUVOH"SUJLFMOVNNFS NVTT[XJTDIFOEFN"VT
MBTTEFS4BNNFMMFJUVOHVOEEFN(BTBOTDIMVTTBOHFCSBDIU
XFSEFO
%FS 4DIMBVDI TPMMUF OJDIU JO ,POUBLU [V EFO CFXFHMJDIFO 5FJMFO EFS
&JOCBVFJOIFJUHFMBOHFO[#FJOFS4DIVCMBEFPEFSEVSDI
GGOVOHFOWFSMFHUXFSEFOEJFWFSTDIMPTTFOXFSEFOL¶OOUFO
8FOO FJO IPSJ[POUBMFS (BTBOTDIMVTT IFSHFTUFMMU XFSEFO TPMM MJFGFSU
*IOFOVOTFSUFDIOJTDIFS,VOEFOEJFOTUFJOFO,S¼NNFS
"SUJLFMOVNNFS TPXJFFJOF%JDIUVOH
"SUJLFMOVNNFS
8FOO FJO [ZMJOESJTDIFS "OTDIMVTT IFSHFTUFMMU XFSEFO TPMM FSTFU[FO
4JFEFOXFSLTFJUJHJOTUBMMJFSUFO,S¼NNFSNJUEFN,S¼NNFSBVT
EFN;VCFI¶SCFVUFMEFSNJUHFMJFGFSUXVSEFC[X¼CFSEFOUFDIOJ
TDIFO,VOEFOEJFOTUCF[PHFOXFSEFOLBOO
"SUJLFMOVNNFS "CC B
7FSHFTTFO4JFOJDIUEB[XJTDIFOEJF%JDIUVOHBO[VCSJOHFO
: *DVDXVWULWWVJHIDKU
/BDI"SCFJUFOBOFJOFS"OTDIMVTTTUFMMFEJFTFJNNFSBVG%JDIUIFJU
QS¼GFO
%FS)FSTUFMMFS¼CFSOJNNUG¼SEFO(BTBVTUSJUUBOFJOFS"OTDIMVTT
TUFMMFBOEFS[VWPSIBOUJFSUXVSEFLFJOF7FSBOUXPSUVOH
(OHNWULVFKHU$QVFKOXVV$EE
1S¼GFO4JFPC4QBOOVOHVOE/FOOMFJTUVOHEFT(FS¤UTNJUEFS
FMFLUSJTDIFO*OTUBMMBUJPO¼CFSFJOTUJNNFO
%JF,PDIGFMEFSXFSEFONJU/FU[LBCFMNJUPEFSPIOF4UFDLFSHFMJF
GFSU
.JU4UFDLFSBVTHFTUBUUFUF(FS¤UFE¼SGFOOVSJOWPSTDISJGUTN¤JH
BOHFCSBDIUFHFFSEFUF4UFDLEPTFOHFTUFDLUXFSEFO
&TNVTTFJOBMMQPMJHFS5SFOOTDIBMUFSNJUNJOEFTUFOT NN,PO
UBLUBCTUBOEBOHFCSBDIUXFSEFOBVFSCFJ"OTDIMVTTBOFJOFGSFJ
[VH¤OHMJDIF4UFDLEPTF
%BT (FS¤U HFI¶SU [VN 5ZQ : %BT ;VMFJUVOHTLBCFM EBSG OJDIU WPN
#FOVU[FSTPOEFSOOVSWPN,VOEFOEJFOTUBVTHFUBVTDIUXFSEFO
4PXPIM,BCFMUZQBMTBVDINJOJNBMFS2VFSTDIOJUUN¼TTFO
CFS¼DLTJDIUJHUXFSEFO
8PVWHOOXQJDXIHLQHDQGHUH*DVDUW
8FOOEJFFJOTDIM¤HJHFO#FTUJNNVOHFOEFTKFXFJMJHFO-BOEFT
EJFTFSMBVCFOLBOOEJFTFT(FS¤UBVGBOEFSF(BTBSUFOVNHFTUFMMU
XFSEFOTJFIF5ZQFOTDIJME%JFIJFSG¼SOPUXFOEJHFO5FJMFCFGJO
EFO TJDI JN NJUHFMJFGFSUFO 6NCBVLJU KF OBDI .PEFMM PEFS L¶OOFO
¼CFSEFO,VOEFOEJFOTUCF[PHFOXFSEFO
:,&+7,*#SJOHFO4JFEFO"VGLMFCFSNJUEFSVNHFTUFMMUFO(BTBSU
JOEFS/¤IFEFT5ZQFOTDIJMEFTBO
&TN¼TTFOGPMHFOEF4DISJUUFCFGPMHUXFSEFO
$$XVWDXVFKGHU'VHQ$EE
/FINFO4JFEJF3PTUF#SFOOFSEFDLFMVOE7FSUFJMFSBC
5BVTDIFO4JFEJF%¼TFONJUEFN¼CFSVOTFSFO,VOEFOEJFOTU
FSI¤MUMJDIFO4DIM¼TTFMNJUEFS"SUJLFMOVNNFSBVTG¼S
%PQQFMCSFOOFSVOE%SFJGMBNNFOCSFOOFS"SUJLFMOVNNFS
TJFIF5BCFMMF *"DIUFO4JFEBCFJCFTPOEFSTEBSBVG
EBTT EJF %¼TF CFJN )FSBVTESFIFO PEFS #FGFTUJHFO BN #SFOOFS
OJDIUBCCSJDIU