̸͕͌͋͏͔͏͙͔͌͒ͣ͐͢ ͇͈͑͌͒ͣ ͕͍͔͋͒͌ ͖͕͇͉͇͙͗͑͒͋ͣͦ͘͢ ͈͎͌ ͖͌͗͌͊͏͈͕͉ ͏
͎͇͍͏͓͕͉
̶͗͏͈͕͕͕͙͉͙͙͉͚͙̹͗͌͌͘͘͏͖͚:͎͇͓͔͇͕͌͌͋͘͏͔͏͙͔͕͕͇͈͌͒ͣ͊͑͌͒ͦ
͓͕͍͙͖͕͌͗͏͎͉͕͋͏͙͙͕͕͖͙͇͉ͣͦ͒ͣ͑͗͌͋͘͘͏͙͓͉͌͒͌͌͗͘͏͇͘
̴͕͈͕͌͋͜͏͓͕͕͈͇͇͙͉͔͗ͣ͠͏͓͇͔͏͔͇͙͌͏͖͏͓͏͔͏͓͇͔͕͔͒ͣ͌͌͌͘͞͏͌
͇͈͑͌͒ͦ
Απροίηαίμηδξοηΰνοί
̹͕͔͕͇͎͓͙͗͌͞͏͙ͣ͌͗͌͋͘͏̶͔͚͉͎͇͗͌͗͢͏͖͑͗͌͏͙ͣ͋͒͏͔͔͚ͥ
͖͍͔͚͑͗͌͌ͥ͟͏͔͚͖͔͓͚͇͕͕͙͚͎͇͔͓͚͇͑͌͗͌͋͌͑͗͑ͥ࣊͑͋͌͑͗ͥ
͉͎͇̩͙͚͖͖͍͔͗͌͑͗͌͌͘͢͢͢͢͜͟͏͔͕͍͔͍͇͙͔͇͇͈͕͋͒͒͌ͣ͗͌͐͢͞
͖͇͔͌͒͏ ̸͔͗͌͋ͦͦ ͓͙͇͌͑ ͖͍͔͑͗͌͌͢͜ ͟͏͔ ͕͍͔͇͋͒ ͙͕͔͕͞ ͕͉͖͇͇͙͋ͣ͘
͕͔͓͙͕͉͎͇͗͌͋͌͐͌͑͐͗͌͘͘͢
ιίζίμηδ ̩͚͇͇͓͔͔͕͇͈͕͖͇͔͒͌͑͌͐͗͌͐͌͒͘͞͞͏͖͍͔͑͗͌͌͌͢
͟͏͔͕͍͔͖͋͒͗͢͢͏͑͒͌͏͉͇͙͖͕͓͕͙͓͖͇͙͚͕͙͕͕͕ͣͦͣͥ͌͌͗͗͐͑͊͘͘͘͠
͉͚͕͓͖͕͔͔͙͔͕͕͋͑͌͊͑͒͌ͦ͜ ͋͒ͦ͑͒͌͘͏͉͇͔͏͓͙͇͇ͦ͌͒͒͏͇͓͔͑ͦ
̩͕͓͈͑͏͔͇͝͏͏͕͖͑͗͑͐͗͘͢͟͏͈͕͇͗7% ͖͉͙͇͌͗͌͋͗͘͏͉͇͔͏͓͌
͚͙͒͌͋͌͘ ͎͇͖͑͗͌͏͙ͣ ͚͑͗͑͢͟ ͖͗͏͈͕͇͗ ͓͘ ̯͔͙͚͗͑͘͝͏ͥ ͖͕ ͓͕͔͙͇͍͚
7%
̩͙͇͉͔͒͌͘͏͖͌͗͏͈͕͇͉͉͎̻͗͗͌͢͏͑͘͏͚͗ͥ͠͏͉͙͚͖͖͌͗͘͢͢͏͈͕͇͗
͕͍͔͙͕͔͕͇͖͕͇͇͙͔͇͖͚͍͋͒͗͒͊ͣͦ͗͘͘͢͞͏͔͔͎͇͍͢͜͏͓͇̩͙͇͉͘͜͏͙ͣ
͖͗͏͈͕͉͉͎͗͗͌͢͏͘͏͔͕͖͒ͣ͗͏͍͇͙ͣ Σηιπηοςύψηδαϊπρςξϊ
ξοηΰνοίγνκεμϊζίψδκιμςρϋπώαξοςεημμϊτζίεηλίτ
Νπνΰϊδςιίζίμηώξνςπρίμναιδμίνριοϊρνλ
ανζγςτδ
͖͚͇͙̈́͑͒͘͏͚͙͖͗͐͌͗͏͈͕͎͇͉͙͕͓͇͙͎͇͗͌͗͌͞͠͏͙͖͕͙͕͚͑͢ 3$%͘
͙͕͕͓͕͙͔͑͑͒ͥ͌͞͏͔͖͉͇ͦ͌͗͌ͥ͢͟͠͏͓ ̧͓
̸͓͕͔͙͏͚͙͗͐͌ ͔͇ ͕͌͋͘͏͔͏͙͔͕͓͌͒ͣ ͇͈͑͌͒͌ ͙͖͌͌͒ͣ͘͟ ͖͗͏͕͔͊͋͐͢ ͋͒ͦ
͇͈͕͙͉͔͖͕͓͔͗͌͌͌͢͠͏ͦ ͕͈͔͒ͥ͋͌͘͘͏͓͙͉͚͌͋͌͐ͥ͘͠͏͜
͔͇͝͏͕͔͇͔͖͖͒ͣ͗͌͋͢͜͏͇͔͘͏͐
̶͗͏͕͌͋͘͏͔͏͙͌ ͖͗͏͈͕͗ ͑ ͙͖͔͕͌͌͒ͣ͐͘͟ ͕͎͙͗͌͑͌ ͘ ͎͇͎͓͔͌͒͌͏͓͌ ͋͒ͦ
͖͗͏͈͕͇͇͕͓͎͇͗͑͒͘͘͘͠͏͙͢*
̷͚͔͕͖͕͉͙͙͉͕͕͌͊͒ͦ͗͗͌͗ͦ͐͌͌͌͐͌͋͘͘͏͔͏͙͔͇͈͔͇͌͒ͣ͐͑͌͒ͣ͢
͖͓͙͉͕͎͓͕͍͔͖͕͉͍͔͗͌͋͌͗͌͋͌͢͜͏̮͇͖͇͙͐͗͌͌ͦ͘͠͏͖͕͎͕͉͇͙͒ͣͣ͘
͖͗͏͈͕͖͕͉͍͔͔͓͕͗͗͌͋͌͌͋͘͘͢͏͔͏͙͔͓͇͈͓͌͒ͣ͑͌͒͌͢
̸͕͌͋͏͔͏͙͔͇͈͕͍͔͕͕͙͉͙͙͉͕͉͇͙͖͕͇͔͌͒ͣ͐͑͌͒ͣ͋͒͌͌ͣ͑͗͐͌͐͘͘͢
͓͙͌͗͌͏͖͚)3/'(
̺͙͇͔͕͉͘͏͙͖͌͗͏͈͕͔͖͕͉͗͌͋͏͍͔͕͔͇͇͈͕͖͕͉͔͕͙͗͌͐͌͗͘͜͞͏
̶͗͏͓͏͙͌ ͔͕͈͕͌͋͜͏͓͌͢ ͓͌͗͢ ͋͒ͦ ͖͕͙͉͇͔͗͌͋͗͌͠͏ͦ ͖͕͔͗͏͔͕͉͔͑͌͏ͦ
͉͇͍͔͕͙͒͘͏
̶͕͕͕͔͇͔͒͌͑͘͞͏ͦ͏͖͕͎͕͉͇͔͒ͣ͘͏ͦ͏͕͇͍͔͒͋͌͜͏͖ͦ͗͏͈͕͇͕͗͌͊
͔͕͈͕͌͋͜͏͓͕͎͇͠͏͙͏͙͕͙͇͙͓͕͔͉͕͎͙͉ͣ͛͌͗͋͌͐͘͘͢͜͏͐ ͔͇͖͗͏͓͌͗
͖͕͙͉͕͓͕͍͚͇͗͌͋͑͘͘͜
Γδλνμρίεξοηΰνοί
̵͙͑͒ͥ͞͏͙͖ͣ͏͙͇͔͏͖͌͗͏͈͕͇̩͙͕͔͚͙͖͗͒͑ͣ͗͢͏͈͕͔͗͘͏͎͚
Αμηλίμηδ
̶͗͏͈͕͓͕͍͙͈͙͖͕͉͍͔̮͇͖͇͙͉͙͇͗͌ͣ͗͌͋͌͗͌͌ͦ͑͘͘͢͢͠͏͉͇͙ͣ
͖͗͏͈͕͉͚͗͌͗͘͜͏͖͕͎͚͇͒ͣͦ͗͊͘͢͞
cs
Ö
.POU¡ľOO¡WPE
'ŤOHçLWiXSR]RUQěQt
1FÍMJWÛTJQęFÍUÛUFUFOUPO¡WPEB VTDIPWFKUFIP#F[QFÍO©
QPVľW¡OKF[BSVÍFOPQPV[FQęJPECPSO©NPOU¡ľJQPEMFUPIPUP
O¡WPEVL NPOU¡ľJ5FDIOJLQSPW¡EÛKDJOTUBMBDJPEQPWE¡[B
CF[WBEO©GVOHPW¡OOBNTUÛJOTUBMBDF
4QPUęFCJÍTN[BQPKPWBUQPV[FLPODFTPWBO½PECPSOL
1ęFEQSPW¡EÛONKBL½DILPMJQSBDPEQPKUFQęTUSPKPESP[WPEO©
TUÛ
/PTUFPDISBOO©SVLBWJDFKBLPQSFWFODJęF[O½DI[SBOÛO%MZ
LUFS©KTPVCÛIFNNPOU¡ľFQęTUVQO©NPIPVNUPTUS©ISBOZ
1ęJJOTUBMBDJTFNVTEPESľFUBLUV¡MOÛQMBUO©QęFEQJTZWZQM½WBKD
[FTUBWFCOIP[¡LPOBBQęFEQJTZSFHJPO¡MOIPEPEBWBUFMF
FMFLUęJOZ
5FOUPQęTUSPKPEQPWE¡UęEÛQęTUSPKF LNPOU¡ľJEP
LVDIZĈTL©IPO¡CZULV.VTTFJOTUBMPWBUQPEMFO¡ÍSULVW
NPOU¡ľONO¡WPEV%PESľVKUFNJOJN¡MOW[E¡MFOPTULCPÍON
TUÛO¡NOFCPLÍ¡TUFNO¡CZULVBNJOJN¡MOW[E¡MFOPTUEP[BEV
5FOUPTQPUęFCJÍOFOVSÍFO½QSPQSPWP[T FYUFSONÍBTPW½N
TQOBÍFNOFCPFYUFSONE¡MLPW½NPWM¡E¡ON
3ŒtSUDYDYHVWDYQpKRQiE\WNX
7FTUBWÛO½O¡CZUFLNVTC½UPEPMO½WįÍJUFQMPU¡NEPp$.VT
C½U[BKJġUÛOBKFIPTUBCJMJUBUBL©QPQSPWFEFO½DIW½ęF[FDI
1SPWFÏUFW½ęF[WQSBDPWOEFTDFQSPKFEFOOFCPOÛLPMJLQęTUSPKį
7BSJPQPEMFO¡ÍSULVWNPOU¡ľONO¡WPEVIFMQMPDIZęF[VL
QSBDPWOEFTDFNVTC½Up
1PVLPOÍFOęF[¡OPETUSBĈUFQJMJOZ1MPDIZęF[V[BQFÍFĥUF
QSPTUęFELFNPEPMO½NQSPUJWZTPL½NUFQMPU¡N
%PESľUFNJOJN¡MOW[E¡MFOPTU NNPETQPEOTUSBOZQęTUSPKFL
Í¡TUFNO¡CZULV
.POU¡ľNVTC½U[BSVÍFOBPDISBOBQSPUJOFCF[QFÍO©NVEPUZLV
1PLVEKFJQPNPOU¡ľJNPľO©EPULOPVUTFTQPEOTUSBOZQęTUSPKF
NVTUF OBNPOUPWBU NF[JEOP TONBUFMO© QPV[F O¡TUSPKFN %PESľUF
NJOJN¡MOW[E¡MFOPTU NNPENF[JEOBLFTQPEOTUSBOÛ
QęTUSPKF
0RQWiçQěNROLNDSŒtVWURMŤ9DULR ;PIMFEOÛUFQPUęFCVNTUBQSP
TQPKPWBDMJġUV77 NF[JQęTUSPKJ1ęTUSPKFKFNPľO©JOTUBMPWBU
UBL©EPKFEOPUMJW½DIW½ęF[įQęJÍFNľTFNF[JOJNJNVT[BDIPWBU
NJOJN¡MOW[E¡MFOPTU NN
(OHNWULFNpSŒLSRMHQt
1ęFEQęJQPKFONQęTUSPKF[LPOUSPMVKUFFMJOTUBMBDJWEPN¡DOPTUJ
%CFKUFOBWIPEO©KJġUÛOFMJOTUBMBDFWEPN¡DOPTUJ/BQÛUB
GSFLWFODFQęTUSPKFNVTPEQPWEBUFMJOTUBMBDJ WJ[UZQPW½ġUUFL
1ęTUSPKPEQPWE¡UęEÛPDISBOZ*BTNTFQPVľWBUKFOT
QęJQPKFO½NPDISBOO½NWPEJÍFN
7JOTUBMBDJNVTC½UWęB[FOWZQOBÍPEQPKVKDWġFDIOZQ³MZT
NJOJN¡MOW[E¡MFOPTULPOUBLUįNNOFCPNVTC½UQęTUSPK
QęJQPKFO[¡TUSÍLPVTPDISBOO½NLPOUBLUFN;¡TUSÍLBNVTC½UQP
NPOU¡ľJJOBE¡MFQęTUVQO¡
%PQPSVÍVKFNF OFDIBU PECPSOÛ JOTUBMPWBU [B QęTUSPK BTJ DN OBE
QPEMBIV[¡TVWLVTPDISBOO½NLPMLFN
*OTUBMBDJ[¡TVWLZTNQSPW©TUQPV[FLWBMJGJLPWBO½FMFLUSJL¡ęW
TPVMBEVTPEQPWEBKDNJQęFEQJTZ
1ęTUSPKTNUFQęJQPKJUQPV[FEPEBO½NQęWPEONLBCFMFN
1ęWPEOLBCFMTFOFTN[BMPNJUOFCPQęJTLęQOPVU
1ęTUSPKPEQPWE¡UZQV:1ęWPEOLBCFMTNWZNÛOJUQPV[F
[¡LB[OJDL½TFSWJT%PESľVKUFUZQLBCFMVBNJOJN¡MOQSįęF[
0RQWiçSŒtVWURMH
1ęFTOÛ TJ P[OBÍUF TUęFE W½ęF[V 1ęJQFWOÛUF EMPVIPV VQFWĈPWBD
MJġUVOBQęFEOISBOVW½ęF[VLS¡ULPVVQFWĈPWBDMJġUVOB[BEO
ISBOVW½ęF[V7½TUVQLZVQFWĈPWBDDIMJġUNVTQęJM©IBUL
QSBDPWO EFTDF 0[OBÍFO TUęFEV VQFWĈPWBDDI MJġU NVT QęFTOÛ
TPVIMBTJUTP[OBÍFONTUęFEVW½ęF[V
8SR]RUQěQt 6 QSBDPWODI EFTFL [ LBNFOF QęJMFQUF VQFWĈPWBD
MJġUZEWPVTMPľLPW½NMFQJEMFN LPWOBL¡NFOPEPMO½NWįÍJ
WZTPL½NUFQMPU¡N
6 LPNCJOBDF T LSZUFN QęTUSPKF 7% 1ęFE NPOU¡ľ QęJQFWOÛUF
LSZUQęTUSPKFLQęTUSPKJ WJ[O¡WPELNPOU¡ľJ7%
1ęTUSPKWMPľUFEPW½ęF[V"SFUBÍOW½TUVQLZOBQęTUSPKJNVT
QęFTOÛEPTFEBUOBTWÛSBDQSVľJOZ1ęTUSPK[BUMBÍUFEPW½ęF[V
$UHWDĀQtYìVWXSN\QDSŒtVWURMLPXVt]DVNRĀLWGRVYěUDFtFK
SUXçLQ
6SHFLiOQtSRN\Q\SURXPtVWěQtYHQNX
1ęTUSPKQęJQPKVKUFLTUJQęFTQSPVEPW½DIS¡OJÍ 3$%TWZQOBDN
QSPVEFNOFQęFTBIVKDN N"
/BQęWPEOLBCFMOBNPOUVKUFWIPEOPV[¡TUSÍLVQSPWFOLPWO
QPVľJU EPESľUFQęFEQJTZQMBUO©WFWBġ[FNJ
1ęJQPKUF QęTUSPK L [¡TVWDF T PDISBOO½N LPMLFN QSP QęTUSPKF UęEZ
PDISBOZ*
1SBWJEFMOÛLPOUSPMVKUF[EBTĥPW½QęWPEOLBCFMOFWZLB[VKF
[O¡NLZQPġLP[FO/FQPVľWFKUFQęTUSPKLEZľKFQęWPEOLBCFM
QPġLP[FO½
1ęWPEOLBCFMNVTPEQPWEBUOFKN©OÛUZQV)3/'(
/BNPOUVKUFQęTUSPKQFWOÛEPQSBDPWOQMPDIZ+FOVUO©[BCS¡OJU
WOJLOVUWMILPTUJ
1ęTUSPKTFNVTQPQPVľJUBWZDIMBEOVUDIS¡OJUQSPUJ
QPWÛUSOPTUONWMJWįN OBQę[BLSZUN
'HPRQWiçSŒtVWURMH
1ęTUSPKPEQPKUFPESP[WPEO©TUÛ7ZUMBÍUFQęTUSPK[FTQPEV
3R]RU
1PġLP[FOQęTUSPKF1ęTUSPKOJLEZOFWZKNFKUFQ¡ÍFONTFTIPSB
pl
ë
,QVWUXNFMDPRQWDŰX
:DŰQHZVND]yZNL
/BMFļZVXBļOJFQS[FD[ZUBÇJ[BDIPXBÇJOTUSVLDKÙPCTĂVHJ
8ZĂÅD[OJFQSBXJEĂPXZNPOUBļXZLPOBOZ[HPEOJF[JOTUSVLDKÅ
NPOUBļVHXBSBOUVKFCF[QJFD[FĄTUXPVļZULPXBOJB*OTUBMBUPS
PEQPXJFE[JBMOZ KFTU [B QSBXJEĂPXF E[JBĂBOJF VS[ÅE[FOJB X NJFKTDV
NPOUBļV
6S[ÅE[FOJF NPļF QPEĂÅD[ZÇ XZĂÅD[OJF TQFDKBMJTUB [ PEQPXJFEOJNJ
VQSBXOJFOJBNJ
1S[FEQSFQSPXBE[FOJFNQSBDXZĂÅD[ZÇEPQĂZXQSÅEV
8DFMVPDISPOZQS[FETLBMFD[FOJBNJTUPTPXBÇSÙLBXJDF
PDISPOOF$[ÙěDJTĂVļÅDFEPNPOUBļVNPHÅNJFÇPTUSF
LSBXÙE[JF