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Les relations interethniques dans l'aire anglophone entre collaboration(s) et rejet(s)

De
254 pages
Quelles réponses apporter aujourd'hui aux questions de diversité nationale, ethnique, culturelle et religieuse des populations urbaines des pays occidentaux ? De l'assimilation au multiculturalisme en passant par l'intégration, les résultats sont décevants. Cette réflexion propose l'interculturalisme qui vise à créer des synergies encore inexistantes et/ou à renforcer les liens entre diverses communautés partageant un même environnement.
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Les Relations interethniques dans laire anglophone : entre collaboration(s) et rejet(s)

Sous la direction de

Lucienne GERMAIN et Didier LASSALLE

LES RELATIONS INTERETHNIQUES DANS LAIRE ANGLOPHONE : ENTRE COLLABORATION(S) ET REJET(S)

Groupe de recherche sur les « Migrations, Relations Interethniques et construction des Identités Européennes ». Laboratoire de recherches sur les cultures anglophones LARCA.

Comité de lecture : [http://www.eila.univ-paris-diderot.fr/recherche/ICT-civi/GRER/]

Ouvrage publié avec le concours de lUniversité Paris-Diderot.

LHarmattan

© L'HARMATTAN, 2009 5-7, rue de l'École-Polytechnique ; 75005 Paris http://www.librairieharmattan.com diffusion.harmattan@wanadoo.fr harmattan1@wanadoo.fr ISBN : 978-2-296-08678-4 EAN : 9782296086784

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.GU 5KMJU GV NGU *KPFQWU PG UQPV RCU NGU UGWNU i TGHWUGT NµoVKSWGVVG ´5WF#UKCVKSWGUµ .GU /WUWNOCPU FW 4Q[CWOG7PK XGWNGPV qVTG TGEQPPWU GP VCPV SWG /WUWNOCPU GV KN [ C FGU TCKUQPU i EGNC +N UµCIKV FµWPG oXQNWVKQP PCVWTGNNG +N [ C SWKP\G CPU QP RCTNCKV FG 0QKTU GV FG $NCPEU RWKU QP C HCKV NC FKUVKPEVKQP GPVTG NGU 0QKTU GV NGU 5WF#UKCVKSWGU GV OCKPVGPCPV EGU FGTPKGTU UQPV CUUG\ PQODTGWZ RQWT oVCDNKT FGU UQWUITQWRGU EWNVWTGNU QW TGNKIKGWZ .GU IGPU PG XGWNGPV RCU VQWU qVTG OKU FCPU NG OqOG RCPKGT GV KN GUV ITCPF VGORU FµWVKNKUGT FGU ECVoIQTKGU RNWU RToEKUGU

.µCEEWNVWTCVKQP
.µCEEWNVWTCVKQP GUV QOPKRToUGPVG FCPU NGU RQNKVKSWGU CUUKOKNCVKQPKUVGU RWKUSWG NG FGUVKP WNVKOG FGU ITQWRGU GVJPKSWGU GUV FG UG HQPFTG FCPU NC ´UQEKoVo FµCEEWGKNµ NGWT EWNVWTG oVCPV EQPUKFoToG EQOOG KPHoTKGWTG 'P EGVVG PQVKQP GUV CDQTFoG RNWU UEKGPVKHKSWGOGPV FCPU WP CTVKENG FG 4QDGTV 4'&(+'.& 4CNRJ .+0610 GV /GNXKNNG , *'45-18+65 SWK EQPUKFpTGPV SWµGNNG ¨ KPENWV NGU RJoPQOpPGU SWK ToUWNVGPV FW EQPVCEV EWNVWTGN FKTGEV GV EQPVKPW GPVTG FGU ITQWRGU FKPFKXKFWU FG EWNVWTG FKHHoTGPVG GPVTCuPCPV FGU EJCPIGOGPVU FCPU NGU OQFpNGU EWNVWTGNU KPKVKCWZ FG NWP QW FGU FGWZ ITQWRGU © .GU OQFCNKVoU FG NµCEEWNVWTCVKQP UG FoRNQKGPV FQPE GPVTG FGWZ RzNGU # NµWPG FGU GZVToOKVoU WP UGWN OQFpNG EWNVWTGN KPHNWGPEG NµCWVTG EGVVG TGNCVKQP CU[OoVTKSWG oXQNWG
2CWN )+.41; 5OCNN #EVU VJQWIJVU QP VJG RQNKVKEU QH DNCEM EWNVWTGU .QPFQP 5GTRGPVU 6CKN RR /.+6 FKTGEVGWT IoPoTCN FG 5WPTKUG 4CFKQ KP 0$4+66'0 ¨ 'VJPKE TCFKQ UVCVKQP VQ DCP #UKCP FGUETKRVKQP © 6JG &CKN[ 6GNGITCRJ ,CPWCT[ 6TQKU CPVJTQRQNQIWGU COoTKECKPU 4QDGTV 4'&(+'.& 4CNRJ .+0610 /GNXKNNG ,*'45-18+65 ²# /GOQTCPFWO HQT VJG 5VWF[ QH #EEWNVWTCVKQP³ /CP 8QN
1EV RR




XGTU NC FQOKPCVKQP OqOG UK NC EWNVWTG FQOKPoG UoNGEVKQPPG OCNITo VQWV NGU GORTWPVU SWµGNNG HCKV i NC EWNVWTG FQOKPCPVG # NµCWVTG FGU oEJCPIGU RNWU QW OQKPU ToEKRTQSWGU GV oSWKNKDToU UG RTQFWKUGPV CXGE OQFKHKECVKQP QW PQP FGU VTCKVU oEJCPIoU /CKU SWµGNNG GP GUV UC VTCFWEVKQP CW RNCP KPFKXKFWGN ! &GWZ CVVKVWFGU GZVTqOGU UQPV RQUUKDNGU FµWP EQVo NµKORGTOoCDKNKVo VQVCNG i NC EWNVWTG oVTCPIpTG SWK EQPFWKV i NC UoRCTCVKQP GV FG NµCWVTG NµCDUQTRVKQP VQVCNG FG EGVVG FGTPKpTG
CUUKOKNCVKQP SWK EQPFWKV NµKPFKXKFW i TGLGVGT UQP CPEKGP U[UVpOG FG XCNGWTU 7P ITCPF oXGPVCKN FG RQUKVKQPPGOGPVU GZKUVG GPVTG EGU FGWZ CPVKRQFGU GPVTCuPCPV FKXGTUGU ´OCPKRWNCVKQPUµ FGU EQFGU FG NµWPG GV NµCWVTG EWNVWTG %CTOGN %#/+..'4+ RTQRQUG WPG V[RQNQIKG FGU UVTCVoIKGU KPFKXKFWGNNGU FµCFCRVCVKQP CW UGKP FµWPG EWNVWTG oVTCPIpTG 6QWV FµCDQTF EGNNGU SWK EJGTEJGPV i oXKVGT NG EQPHNKV RCT NC ´EQJoTGPEG UKORNGµ EGUViFKTG GP HCKUCPV NµKORCUUG UWT NGU GZKIGPEGU FG NµWP FGU FGWZ EQFGU EWNVWTGNU CPVCIQPKUVGU #KPUK NGU ´EQPUGTXCVGWTUµ UµGHHQTEGPV FG RToUGTXGT NGWT U[UVpOG URoEKHKSWG FG XCNGWTU GP TGRQWUUCPV VQWVGU NGU VGPVCVKXGU FµKPHKNVTCVKQP FG EGNWK SWK NGU CEEWGKNNG oXKVCPV RCT Ni OqOG NG EQPHNKV KPVoTKGWT CW FoVTKOGPV FG NGWT CFCRVCVKQP # NµQRRQUo UG VTQWXGPV EGWZ SWK CFQRVGPV FGU EQPFWKVGU ´QRRQTVWPKUVGUµ CW RTKZ FµWPG ITCPFG ´HNWKFKVo KFGPVKVCKTGµ KNU RTKXKNoIKGPV CKPUK NµCFCRVCVKQP CWZ FoRGPU FG NGWT KFGPVKVo EWNVWTGNNG 'P UGEQPF NKGW UG FoRNQKGPV FGU UVTCVoIKGU SWK VGPVGPV FµCTVKEWNGT FGU TGRToUGPVCVKQPU FGU FGWZ EWNVWTGU GP RToUGPEG FCPU WP GHHQTV FG ´EQJoTGPEG EQORNGZGµ FGUVKPo i ToUQWFTG NGU EQPVTCFKEVKQPU .QTUSWG NC RGTUQPPG RWKUG FCPU NGU FGWZ EWNVWTGU NGU oNoOGPVU SWK NWK EQPXKGPPGPV NG OKGWZ UCPU UG UQWEKGT FGU oXGPVWGNNGU QRRQUKVKQPU GV FGU EQPVTCKPVGU CHHoTGPVGU FCPU NG DWV FG OCZKOKUGT UGU CXCPVCIGU RGTUQPPGNU GNNG CFQRVG WPG CVVKVWFG SWCNKHKoG FG ´U[PEToVKSWGµ FµKPFKXKFWCNKUVG .C FoOCTEJG ´U[PVJoVKSWGµ GUV SWCPV i GNNG NC TGEJGTEJG FµWP CIGPEGOGPV PQWXGCW GV EQJoTGPV GPVTG FGWZ RCTVKEWNCTKUOGU RQWXCPV CDQWVKT i WP EJCPIGOGPV EQNNGEVKH UCPU VTCWOCVKUOG RGTEGRVKDNG 'PHKP KN PG HCWV LCOCKU RGTFTG FG XWG SWG NGU UVTWEVWTGU EWNVWTGNNGU SWK UG TGPEQPVTGPV GV KPVGTCIKUUGPV PG UQPV RCU FoUKPECTPoGU OCKU DKGP RQTVoGU RCT FGU KPFKXKFWU SWK RCT NGWT F[PCOKUOG RTQRTG



KPVTQFWKUGPV UCPU EGUUG FG PQWXGCWZ RCTCOpVTGU dNKCP &,#17+ PQWU RToUGPVG NC XKUKQP RNWU RTCIOCVKSWG FµWP RTQHGUUKQPPGN SWK UµKPVoTGUUG CWZ RTQEGUUWU RU[EJKSWGU CEVKHU FCPU NC RTKUG GP EJCTIG OoFKEQUQEKCNG FG RQRWNCVKQPU QTKIKPCKTGU FµCWVTGU EWNVWTGU +N CPCN[UG KEK NC F[PCOKSWG RU[EJKSWG FG NC TGNCVKQP KPVGTEWNVWTGNNG GP FoETKXCPV NµKPXGUVKUUGOGPV PCTEKUUKSWG FG NµKFGPVKVo GV FG NC EWNVWTG NµCODKXCNGPEG FGU TGNCVKQPU KPVGTEWNVWTGNNGU NGU UQWHHTCPEGU GV FoHGPUGU KFGPVKVCKTGU FW OKITCPV +N KPUKUVG GPHKP UWT NG RCTCFQZG SWG EQPUVKVWG NµKPVGTXGPVKQP RU[EJQOoFKEQUQEKCNG GP HCXGWT FG EGVVG RQRWNCVKQP RWKUSWG NGU RTQHGUUKQPPGNU UG TGVTQWXGPV RTKU GP oVCW GPVTG NGU DGUQKPU FW RCVKGPV NGWT oVJKSWG RGTUQPPGNNG GV RTQHGUUKQPPGNNG GV NGU KPLQPEVKQPU FGU RQNKVKSWGU RWDNKSWGU FG NC UQEKoVo FµCEEWGKN

6[RQNQIKG FGU TGNCVKQPU KPVGTEWNVWTGNNGUKPVGTGVJPKSWGU %QPHTQPVCVKQPU GV EQPHNKVU
.µoOGWVG TCEKCNG GUV NµKNNWUVTCVKQP NC RNWU U[ORVQOCVKSWG GV NC RNWU XKQNGPVG FGU EQPHNKVU KPVGTEWNVWTGNUKPVGTGVJPKSWGU 2QWT RQWTUWKXTG CXGE NµGZGORNG COoTKECKP GV GP OGVVCPV FG EzVo NGU oXoPGOGPVU FKTGEVGOGPV NKoU CW OQWXGOGPV RQWT NGU &TQKVU %KXKSWGU
%KXKN 4KIJVU /QXGOGPV FGU CPPoGU NC RNWRCTV FGU oOGWVGU EQPVGORQTCKPGU FCPU EG RC[U QPV GW NKGW FCPU FGU SWCTVKGTU FG ITCPFGU XKNNGU ECTCEVoTKUoU RCT FG DTWUSWGU EJCPIGOGPVU FoOQITCRJKSWGU GV WPG EQPEWTTGPEG CEJCTPoG GPVTG CPEKGPU
RQRWNCVKQP PQKTG FoUJoTKVoG GV PQWXGCWZ ToUKFGPVU
KOOKITCPVU RGW SWCNKHKoU RQWT FGU TGUUQWTEGU NKOKVoGU °GORNQKU NQIGOGPVU UGTXKEGU UQEKCWZ GVE .G VQWV oVCPV IoPoTCNGOGPV CUUQEKo i WP EQPVGZVG oEQPQOKSWG FKHHKEKNG 3WCVTG FGU FKZ \QPGU WTDCKPGU C[CPV CEEWGKNNK NG RNWU ITCPF PQODTG FµKOOKITCPVU FCPU NGU CPPoGU GV QPV GPTGIKUVTo FGU oOGWVGU TCEKCNGU .QU #PIGNGU 0GY ;QTM /KCOK GV 9CUJKPIVQP &% %GU EGPVTGU WTDCKPU KORQTVCPVU
%H %CTOGN %#/+..'4+ ¨ +FGPVKVo GV IGUVKQP FG NC FKURCTKVo EWNVWTGNNG GUUCK FµWPG V[RQNQIKG © KP 5VTCVoIKGU KFGPVKVCKTGU 2CTKU 27(



QPV WPG RQRWNCVKQP OCLQTKVCKTGOGPV PQP$NCPEJG EG SWK UQWNKIPG NC ITCPFG EQORNGZKVo FGU KPVGTCEVKQPU SWK UG LQWGPV FoUQTOCKU GPVTG VTQKU XQKTG SWCVTG ITQWRGU FµCEVGWTU GVJPKSWGU 2NWU ToEGOOGPV FGU VTQWDNGU i EQPPQVCVKQP TCEKCNG UG UQPV RTQFWKVU i %KPEKPPCVK GV i 5GCVVNG GP CKPUK SWµi $GPVQP *CTDQWT
/KEJKICP GP 5CPU CNNGT LWUSWµi NµoOGWVG NGU VGPUKQPU KPVGTEQOOWPCWVCKTGU UQPV UQWXGPV VTpU RCNRCDNGU EQOOG EGNNGU FCPU EGTVCKPU SWCTVKGTU FoHCXQTKUoU
5QWVJ %GPVTCN i .QU #PIGNGU QW 5QWVJ $TQPZ i 0GY ;QTM GPVTG NGU 0QKTU GV NGU %QToGPU SWK C[CPV RTQITGUUKXGOGPV TGORNCEo NGU RGVKVU EQOOGTnCPVU LWKHU GV KVCNKGPU UQPV CEEWUoU FµGZRNQKVGT NC OKUpTG CODKCPVG GV FµKIPQTGT NC OCKPFµ¯WXTG NQECNG &G OqOG NGU $NCPEU LCNQWUGPV EGVVG EQOOWPCWVo GP TCKUQP FG NGWT VCWZ GZEGRVKQPPGN FG ToWUUKVG UEQNCKTG GV WPKXGTUKVCKTG GV FG NGWT RTQURoTKVo UQWXGPV QUVGPVCVQKTG %GVVG CPKOQUKVo FoENCToG GUV TGURQPUCDNG EJCSWG CPPoG FW TGVQWT CW RC[U FµQTKIKPG FG RNWUKGWTU OKNNKGTU FG %QToGPU 2QWT NGWT RCTV NGU *CvVKGPU UQPV CHHWDNoU FG UVoToQV[RGU FoUQDNKIGCPVU FG NC RCTV FGU #HTQ#OoTKECKPU GV FGU *KURCPKSWGU SWK NGU LWIGPV VTQR FQEKNGU GPXGTU NGU $NCPEU GV GZCIoToOGPV NKoU i NGWTU VTCFKVKQPU EToQNGU CPVKNNCKUGU SWCPV CWZ %WDCKPU GV CWZ 2QTVQTKECKPU EQJCDKVCPV FCPU NGU DCPNKGWGU FG /KCOK NGWT QUOQUG GUV NQKP FµqVTG oXKFGPVG 2GPFCPV NGU NWVVGU RQWT NGU &TQKVU %KXKSWGU FCPU NGU CPPoGU UQKZCPVG NµCHHNWZ FGU 2QTVQTKECKPU C GPIGPFTo FGU EQPHNKVU CXGE NGU #HTQ#OoTKECKPU i RTQRQU FW EQPVTzNG FGU RQWXQKTU NQECWZ GV FG NµCEEpU CWZ HQPFU RWDNKEU GP RCTVKEWNKGT i 0GY;QTM &G RNWU NµCPKOQUKVo GPVTG $NCPEU GV $TQYPU RQTVQTKECKPU KNNWUVToG RCT 9GUV 5KFG 5VQT[
GUV VQWLQWTU UQWULCEGPVG 'P FCPU NG UKNNCIG FG NC 2WGTVQ 4KECP &C[ 2CTCFG i %GPVTCN 2CTM RNWUKGWTU FK\CKPGU FG HGOOGU
SWCUKOGPV VQWVGU FGU $NCPEJGU HWTGPV NµQDLGV FµCITGUUKQPU i
.CU 8GICU 5V 2GVGTUDWTI GV -PQZXKNNG QPV oICNGOGPV GPTGIKUVTo FGU KPEKFGPVU FW OqOG V[RG CW EQWTU FG EGVVG RoTKQFG /KEJCGN ,10'5%144'# #OGTKECP 4KQVU 5VTWEVWTGU +PUVKVWVKQPU CPF *KUVQT[ )QXGTPOGPV &GRCTVOGPV .KVVCWGT %GPVGT(#5 *CTXCTF 7PKXGTUKV[ %CODTKFIG =YYYTWUUGNNUCIGQTIRWDNKECVKQPUYQTMKPIRCRGTU#OGTKECP 4KQVU FQEWOGPV?
2JKNKRRG ,#%37+0 &CPKGN 41;16 5VGRJGP 9*+6(+'.& .G 2GWRNG COoTKECKP 1TKIKPGU KOOKITCVKQP GVJPKEKVo GV KFGPVKVo 2CTKU 5GWKN RR +DKF R GV R




ECTCEVpTG UGZWGN FG NC RCTV FG ITQWRGU FµJQOOGU HQTVGOGPV CNEQQNKUoU KUUWU FGU EQOOWPCWVoU CHTQCOoTKECKPGU RQTVQTKECKPGU GV FQOKPKECKPGU .GU oOGWVGU TCEKCNGU PG UQPV RCU NµCRCPCIG FGU XKNNGU COoTKECKPGU 'P #WUVTCNKG NGU VGPUKQPU GPVTG NC RQNKEG VTpU OCLQTKVCKTGOGPV EQORQUoG FG $NCPEU GV NGU #DQTKIpPGU QPV FoIoPoTo i FGWZ TGRTKUGU GP i 4GFHGTP
DCPNKGWG FG 5[FPG[ GV i 2CNO +UNCPF
3WGGPUNCPF .GU TGNCVKQPU KPVGTEQOOWPCWVCKTGU UQPV oICNGOGPV FKHHKEKNGU GV FoTCRGPV RCTHQKU VTCIKSWGOGPV EQOOG NµKNNWUVTGPV NGU CHHTQPVGOGPVU FG %TQPWNNC DGCEJ
5[FPG[ Q~ FGU DCPFGU FG LGWPGU DNCPEU UµGP UQPV XKQNGOOGPV RTKU i FGU CFQNGUEGPVU QTKIKPCKTGU FW /Q[GP1TKGPV
.KDCP CEEWUoU FG VTCECUUGT GV FµGHHTC[GT NGU DCKIPGWTU 2NWU RTpU FG PQWU NC )TCPFG $TGVCIPG C EQPPW CW EQWTU FG UQP JKUVQKTG ToEGPVG FG PQODTGWUGU oOGWVGU TCEKCNGU SWK QPV oENCVo FpU NµKPUVCNNCVKQP FGU RTGOKGTU KOOKITCPVU EQNQPKCWZ UWT NG VGTTKVQKTG PCVKQPCN
.KXGTRQQN GP &GRHQTF GP 0QVVKPIJCO GV 0QVVKPI *KNN GP %GVVG RTGOKpTG UoTKG FµoXoPGOGPVU oVCKV NKoG i NC ZoPQRJQDKG FG NC RQRWNCVKQP CWVQEJVQPG GP FKHHKEWNVo SWK XQ[CKV FCPU EGU PQWXGCWZ CTTKXCPVU FGU EQPEWTTGPVU RQVGPVKGNU FCPU NGU FQOCKPGU XKVCWZ FW NQIGOGPV GV FG NµGORNQK &CPU NGU CPPoGU GV CW FoDWV FGU CPPoGU NGU TGNCVKQPU EQPHNKEVWGNNGU CXGE NC RQNKEG EQPUKFoToG EQOOG KPUVKVWVKQPPGNNGOGPV TCEKUVG QPV oVo NGU ECWUGU RTKPEKRCNGU FW FoENGPEJGOGPV FGU ITCPFGU oOGWVGU WTDCKPGU FG i .QTU FG ´NµoVo FGU XKQNGPEGU FG µ
6JG 5WOOGT QH 8KQNGPEG i NC UWKVG FµWPG NQPIWG RoTKQFG FG VGPUKQPU KPVGT EQOOWPCWVCKTGU CVVKUoGU RCT NGU FKUEQWTU GV NGU CIKUUGOGPVU FW $TKUVKUJ 0CVKQPCN 2CTV[
$02 RNWUKGWTU XKNNGU FW 0QTF FG Nµ#PINGVGTTG
1NFJCO $TCFHQTF .GGFU GV $WTPNG[ QPV oVo VoOQKPU FµCHHTQPVGOGPVU XKQNGPVU GPVTG FGU ITQWRGU FG LGWPGU DNCPEU GV FG LGWPGU CUKCVKSWGU &G OqOG FGU oEJCWHHQWToGU QPV QRRQUo EGU FGWZ EQOOWPCWVoU FCPU NGU TWGU FG 9KPFUQT
QEVQDTG GP TCKUQP FG
6JG ,WPG ´9KNFKPIµ URTGG KP 0GY ;QTM %KV[U %GPVTCN 2CTM %H ²/CP KP #VVCEMU QP 9QOGP KP %GPVTCN 2CTM )GVU ;GCTU³ 6JG 0GY ;QTM 6KOGU /C[ =JVVRYYYP[VKOGUEQOP[TGIKQP?
'P i $TKZVQP
.QPFTGU *CPFUYQTVJ
$KTOKPIJCO 6QZVGVJ
.KXGT RQQN GP i *CPFUYQTVJ GV 6QVVGPJCO GV GP i $TKZVQP GV /CPPKIJCO
$TCFHQTF



NµQWXGTVWTG RTQITCOOoG FµWPG OQUSWoG UWT WP UKVG LWUSWG Ni FoFKo i FGU KORNCPVCVKQPU KPFWUVTKGNNGU 'PHKP NµCTTKXoG OCUUKXG FG PQWXGCWZ KOOKITCPVU C TGPHQTEo NGU VGPUKQPU CPVoTKGWTGU GP CORNKHKCPV NGU EQPHNKVU JCDKVWGNU GPVTG RQRWNCVKQP CWVQEJVQPG GV OKPQTKVoU oVCDNKGU RCTHQKU FGRWKU RNWUKGWTU IoPoTCVKQPU # EGWZEK UµCLQWVGPV FG PQWXGNNGU QRRQUKVKQPU GPVTG EGU FGTPKpTGU GV NGU OKITCPVU FG HTCuEJG FCVG SWK UµKPUVCNNGPV UQWXGPV FCPU FGU SWCTVKGTU CFLCEGPVU #KPUK CW UGKP FGU EQOOWPCWVoU CUKCVKSWGU GV CHTQ ECTKDoGPPG oVCDNKGU NµoOGTIGPEG FG RToLWIoU TCEKCWZ GV FG UGPVKOGPVU FµJQUVKNKVo GPXGTU NGU OKPQTKVoU GVJPKSWGU ToEGOOGPV CTTKXoGU C oVo KNNWUVToG RCT WP UQPFCIG FµQRKPKQP ToCNKUo GP FGU #UKCVKSWGU KPVGTTQIoU FoENCTCKGPV SWµKN [ CXCKV VTQR FµKOOKITCPVU GP )TCPFG$TGVCIPG .GU PQWXGNNGU OGUWTGU RTKUGU RCT NG IQWXGTPGOGPV DTKVCPPKSWG GP OCVKpTG FG ECTVG FµKFGPVKVo KPVGTXKGPPGPV FCPU EG EQPVGZVG /CTKG#PPKEM /#66+1.+ UG RGPEJG UWT NGU FKCNQIWGU KPVGTGVJPKSWGU CWVQWT FG UC OKUG GP RNCEG NGU ITQWRGU GVJPKSWGU OKPQTKVCKTGU UG OoHKCPV FG NµWUCIG SWK RQWTTCKV GP qVTG HCKV RCT NGU CWVQTKVoU Uµ[ UQPV HGTOGOGPV QRRQUoU +NU EQPUKFpTGPV SWµGNNG PG EQPUVKVWG RCU WPG UQNWVKQP CW RTQDNpOG FG NµKOOKITCVKQP KNNoICNG GV SWµGNNG PG EQPVTKDWGTC SWµi TGPHQTEGT NGU RToLWIoU TCEKCWZ FCPU NG RC[U &GU oXoPGOGPVU KFGPVKSWGU QPV GW NKGW GP 'URCIPG ° CVVCSWGU TCEKUVGU NCPEoGU EQPVTG FGU VTCXCKNNGWTU KOOKIToU PQTF CHTKECKPU GV NGWTU DKGPU FCPU NC ToIKQP Fµ#NOGTKC
GP $GNIKSWG °oOGWVGU TCEKCNGU FG $TWZGNNGU
UGRVGODTG FWGU CW FoEpU GP FoVGPVKQP FµWP LGWPG FoNKPSWCPV FµQTKIKPG OCTQECKPG GV oICNGOGPV GP (TCPEG CXGE NGU VTQWDNGU FG 2GTRKIPCP SWK QPV QRRQUo NGU EQOOWPCWVoU IKVCPG GV PQTFCHTKECKPG FG NC XKNNG GV NGU ITCPFGU oOGWVGU WTDCKPGU FG PQXGODTG %GU FGTPKpTGU FG NµCXKU IoPoTCN QPV RNWVzV VTCFWKV WP FoUKT FµKPVoITCVKQP KPCDQWVK GPVTCuPCPV WPG HTWUVTCVKQP KPVQNoTCDNG SWµWPG XQNQPVo FG TGRNK EQOOWPCWVCKTG FG NC RCTV FGU oOGWVKGTU 0QVQPU i EGV oICTF SWµGNNGU PµQPV EQPEGTPo


²6JTGG 0KIJVU QH 8KQNGPEG CV &CKT[³ $$%0GYU 1EVQDGT =JVVRPGYUDDEEQWMJKGPINCPFDGTMUJKTG?
5QPFCIG ToCNKUo RCT NµCIGPEG /14+ %H %QOOWPKV[ %QJGUKQP CPF /KITCVKQP 6GPVJ 4GRQTV QH 5GUUKQP %QOOWPKVKGU CPF .QECN IQXGTPOGPV %QOOKVVGG .QPFQP *QWUG QH %QOOQPU R



SWG NGU RQRWNCVKQPU FGU DCPNKGWGU FoUJoTKVoGU VTpU OCLQTKVCKTGOGPV EQPUVKVWoGU FG LGWPGU KUUWU FG NµKOOKITCVKQP OCIJToDKPG GV CHTKECKPG 0oCPOQKPU NGU HTKEVKQPU GV NGU JGWTVU SWK UG OWNVKRNKGPV GPVTG OKPQTKVoU GVJPKSWGU FGRWKU SWGNSWGU CPPoGU UQPV UQWXGPV KPVGTRToVoU EQOOG NGU GHHGVU RGTXGTU FµWPG RQNKVKSWG CZoG UWT NµGPEQWTCIGOGPV FGU KFGPVKVoU FG ITQWRG GV FGU RCTVKEWNCTKUOGU RCT NGU CFXGTUCKTGU FW OWNVKEWNVWTCNKUOG 'P QWVTG EGTVCKPU JQOOGU RQNKVKSWGU EQPHTQPVoU CWZ FoUQTFTGU RWDNKEU KPSWKGVU FG NµCVVTCKV FG NµGZVTqOG FTQKVG RCTOK NGU $NCPEU NGU RNWU FoHCXQTKUoU GV VGTTKHKoU RCT NGU CVVGPVCVUUWKEKFGU NGU TGLQKIPGPV FCPU EGVVG CPCN[UG 5K ¨ NGU KOOGPUGU DKGPHCKVU FW OWNVKEWNVWTCNKUOG GV NGU DoPoHKEGU SWG NC )TCPFG$TGVCIPG C RW GP VKTGT °TGEQPPCKUUCPEG FGU FKHHoTGPVGU EQOOWPCWVoU QWXGTVWTG i VQWVGU NGU ETQ[CPEGU GV CWZ PQP ETQ[CPVU © UQPV TGEQPPWU NGU OGPCEGU SWµKN C GPIGPFToGU ¨ NGU VGPUKQPU UG FQKXGPV FµqVTG FoPQPEoGU ©

%QQRoTCVKQPU
.GU EQQRoTCVKQPU KPVGTEWNVWTGNNGUKPVGTGVJPKSWGU PG UQPV RCU TCTGU GP RCTVKEWNKGT FCPU NG EJCOR RQNKVKSWG #KPUK NC ECORCIPG RQWT NGU &TQKVU %KXKSWGU CWZ dVCVU7PKU C ToWPK FGU CEVKXKUVGU PQKTU OCKU oICNGOGPV FGU $NCPEU NKDoTCWZ 'P $NCPEU GV #HTQ#OoTKECKPU RCTVKEKRGPV i NC ´/CTEJG UWT 9CUJKPIVQPµ SWK UG VGTOKPG RCT NG EoNpDTG FKUEQWTU FW RCUVGWT /CTVKP .WVJGT -+0) &G OqOG ,GUUKG ,#%-510 EToG NC ´EQCNKVKQP CTEGPEKGNµ
4CKPDQY %QCNKVKQP GP CRRGNCPV i NµWPKQP FG VQWU NGU NCKUUoURQWT EQORVG FG NC RQNKVKSWG TGCICPKGPPG #HTQ#OoTKECKPU ,WKHU #OoTKECKPU #TCDGU#OoTKECKPU NGU #OoTKECKPU CWVQEJVQPGU NGU #OoTKECKPU#UKCVKSWGU NGU LGWPGU NGU OWVKNoU FG IWGTTG NGU RGVKVU HGTOKGTU NGU JQOQUGZWGNU GV NGU NGUDKGPPGU 'P WPG PQWXGNNG
²7- OWUV VCEMNG GVJPKE VGPUKQPU³ $$%0GYU #WIWUV =JVVRYYY 0GYUDDEEQWM?
.QTU FG UC ECORCIPG RQWT NC FoUKIPCVKQP FW ECPFKFCV FoOQETCVG i NµoNGEVKQP RToUKFGPVKGNNG %H ,GUUG ,#%-510 &GOQETCVKE 0CVKQPCN %QPXGPVKQP #FFTGUU FGNKXGTGF ,WN[ 5CP (TCPEKUEQ=JVVRYYYCOGTKECPTJGVQTKEEQOURGGEJGU LGUUGLCEMUQPFPEJVO?




QTICPKUCVKQP
4CKPDQY275* VQWLQWTU KORWNUoG RCT , ,#%-510 XQKV NG LQWT CXGE RQWT HGWKNNG FG TQWVG NC FoHGPUG FGU #HTQ #OoTKECKPU FGU *KURCPKSWGU FGU #OoTKECKPU CWVQEJVQPGU FGU CWVTGU OKPQTKVoU GV FGU HGOOGU 'NNG C VKUUo FGU NKGPU oVTQKVU CXGE NC .GCIWG QH 7PKVGF .CVKP #OGTKECP %KVK\GPU GV NG 0CVKQPCN %QWPEKN QH .C 4C\C FGWZ QTICPKUCVKQPU OKNKVCPVGU FG FoHGPUG GV FG RTQOQVKQP FGU *KURCPKSWGU FCPU NC UQEKoVo COoTKECKPG &µCWVTG RCTV FCPU FG PQODTGWUGU ITCPFGU XKNNGU FW RC[U VTCPUEGPFGT NGU ENKXCIGU GVJPKSWGU RQWT CTTKXGT CW RQWXQKT GUV UQWXGPV PoEGUUCKTG FµQ~ FGU CNNKCPEGU GPVTG $NCPEU GV *KURCPKSWGU QW *KURCPKSWGU GV #HTQ #OoTKECKPU TGNCVKXGOGPV HToSWGPVGU EQOOG RCT GZGORNG i 0GY ;QTM /KCOK %JKECIQ $QUVQP 'PHKP FCPU WP CWVTG TGIKUVTG %oNKPG 2.#0%*17 FoVCKNNG NµoRKPGWZ RTQDNpOG FW RNCEGOGPV FGU GPHCPVU KPFKGPU CW UGKP FG HCOKNNGU FµCEEWGKN QW FµCFQRVKQP PQPKPFKGPPGU FCPU NG EQPVGZVG FG NC RQNKVKSWG HoFoTCNG KPFKGPPG GV FG NC RTQVGEVKQP FG NµGPHCPEG CWZ dVCVU7PKU %GVVG CFOKPKUVTCVKQP KPUKUVG RNWVzV UWT NµKPVoTqV FG NµGPHCPV GP VCPV SWµKPFKXKFW CNQTU SWG NGU VTKDWU RTKXKNoIKGPV NC UCWXGICTFG FG NC EWNVWTG GV FQPE FW ITQWRG SWK UµKPUETKV UGNQP GWZ FCPU NGWT FTQKV i WPG KFGPVKVo URoEKHKSWG 2QWTVCPV FG RNWU GP RNWU NGU dVCVU GV NGU VTKDWU EQQRpTGPV RQWT HCKTG HCEG i EGU RTQDNpOGU OqOG UK EGU RCTVGPCTKCVU TGPEQPVTGPV FGU FKHHKEWNVoU 'P )TCPFG$TGVCIPG EµGUV NC NWVVG EQPVTG NG TCEKUOG SWK C TCRRTQEJo NGU EQOOWPCWVoU CW OKNKGW FGU CPPoGU UQKZCPVG .GU RTGOKGTU KOOKITCPVU PG UG RGTEGXCKGPV RCU EQOOG WP ITQWRG WPK .GU FKHHoTGPEGU FG TGNKIKQP FG NCPIWG FµQTKIKPG IoQITCRJKSWG TGUVCKGPV RToRQPFoTCPVGU +NU oVCKGPV CXCPV VQWV FGU 5KMJU CXGE FGU NKGPU FG RCTGPVo XKNNCIGQKU RCTVKEWNKGTU FGU ,COCvECKPU XGPWU GP FTQKVG NKIPG FGU #PVKNNGU QW FGU /WUWNOCPU FW 2CMKUVCP EGTVCKPU CXCKGPV NµCPINCKU EQOOG NCPIWG OCVGTPGNNG FµCWVTGU PG RCTNCKGPV SWG NG RWPLCDK QW NµJKPFK %GRGPFCPV NµGZRoTKGPEG RCTVCIoG FW XoEW FCPU WP RC[U CWZ RTCVKSWGU FKUETKOKPCVQKTGU HQTnC WP ITCPF PQODTG FµGPVTG GWZ i TGXQKT NGWTU RQUKVKQPU UWT NGWT OQFG FµQTICPKUCVKQP FG NWVVG GV FµKFGPVKHKECVKQP %µGUV FCPU EG EQPVGZVG SWG HWV HQPFoG RCT FGU CEVKXKUVGU +PFKGPU 2CMKUVCPCKU #HTQ#PVKNNCKU GV NGWTU CNNKoU FG NC ICWEJG RTQITGUUKUVG NµCUUQEKCVKQP DTKVCPPKSWG CPVKTCEKUVG %CORCKIP #ICKPUV 4CEKCN &KUETKOKPCVKQP
%#4& FoEGODTG


5QWU NµKPHNWGPEG FW $NCEM 2QYGT COoTKECKP GNNG OKV GP CXCPV WPG KFGPVKVo RQNKVKSWG ´PQKTGµ WPG FoUKIPCVKQP IoPoTKSWG HCXQTCDNGOGPV CEEWGKNNKG RQWXCPV TGITQWRGT VQWU NGU ITQWRGU GVJPKSWGU NWVVCPV RQWT EGVVG ECWUG /CNJGWTGWUGOGPV UWKVG CWZ VGPUKQPU KPVGTPGU GV CWZ NWVVGU FG RQWXQKT CW UGKP FW EQOKVo GZoEWVKH GV UWTVQWV CW EQPHNKV PCKUUCPV GPVTG NGU #UKCVKSWGU GV NGU #PVKNNCKU %#4& UµGHHQPFTC RQWT PG RNWU LCOCKU UG TGNGXGT GP 0oCPOQKPU FGU EQQRoTCVKQPU RQPEVWGNNGU QPV GZKUVo GV GZKUVGPV VQWLQWTU GP RCTVKEWNKGT FCPU NG FQOCKPG NoIKUNCVKH CW VTCXGTU FW NQDD[KPI GP HCXGWT FG NC NQK FG UWT NGU 4GNCVKQPU 4CEKCNGU GV RQWT UGU OQFKHKECVKQPU WNVoTKGWTGU 'NNGU UQPV oICNGOGPV VTpU HToSWGPVGU FCPU NG FQOCKPG FG NµGORNQK GV FG NµCTV NQKU CPVKTCEKUVGU GV CPVK FKUETKOKPCVQKTGU RQNKVKSWGU FµCHHKTOCVKXG CEVKQP QW FG SWQVCU FKXGTUKHKECVKQP FGU RCTEQWTU RTQHGUUKQPPGNU OGKNNGWTG oFWECVKQP HQTOCVKQP GVE &CPU WPG CWVTG URJpTG 5QRJKG 14.#0&1 CPCN[UG NGU TGNCVKQPU KPVGTGVJPKSWGU FCPU NGU CTVU DTKVCPPKSWGU EQPVGORQTCKPU CW VTCXGTU FG NµoVWFG FGU ¯WXTGU FµCTV Uµ[ KPVoTGUUCPV TGNCVKQPU EQPHNKEVWGNNGU GPVTG NGU ICNGTKUVGU DTKVCPPKSWGU °IoPoTCNGOGPV DNCPEU GV OCUEWNKPU° GV NGU CTVKUVGU FµQTKIKPG oVTCPIpTG QW KUUWU FGU KOOKITCVKQPU EQNQPKCNGU GV EQNNCDQTCVKQPU SWK VoOQKIPGPV FµWP VTCXCKN EQNNGEVKH GPVTG NGU FKHHoTGPVGU EQOOWPCWVoU 2QWT GNNG NGU TGNCVKQPU GPVTG NGU CTVKUVGU PG UG UQPV RCU HQPFoGU UWT FGU ETKVpTGU GVJPKSWGU OCKU RNWVzV UWT FGU EQPXGTIGPEGU RQNKVKSWGU QW GUVJoVKSWGU 'P TGXCPEJG NGU KPUVKVWVKQPU EWNVWTGNNGU DTKVCPPKSWGU EJGTEJGPV i RTQOQWXQKT NC PQVKQP FG ´FKXGTUKVo GVJPKSWGµ KPFoRGPFCOOGPV FG VQWV RTKPEKRG GUVJoVKSWG

2CUUGTGNNGU
.GU WPKQPU KPVGTGVJPKSWGU UQPV EQPUKFoToGU EQOOG NGU OCTSWGWTU NGU RNWU oXKFGPVU FG NµKPVoITCVKQP FGU ITQWRGU OKPQTKVCKTGU #WZ dVCVU7PKU NC %QWT 5WRTqOG PµKPXCNKFG SWµGP NC NQK FG NµdVCV FG 8KTIKPKG SWK KPVGTFKUCKV NGU OCTKCIGU GPVTG $NCPEU GV PQP$NCPEU CXGE RQWT EQPUoSWGPEG KOOoFKCVG FµCPPWNGT


-CNDKT 5*7-4# 6JG %JCPIKPI 2CVVGTP QH $NCEM 2QNKVKEU KP $TKVCKP .QPFQP 2NWVQ 2TGUU RR



FGU NQKU KFGPVKSWGU FCPU CWVTGU dVCVU FW RC[U &GRWKU NQTU NGU WPKQPU KPVGTGVJPKSWGUKPVGTTCEKCNGU UG UQPV OWNVKRNKoGU UGNQP NGU TGEGPUGOGPVU CWIOGPVCPV GPVTG GV FG RQWT NGU ECVoIQTKGU $NCPEU0QKTU FG RQWT NGU 0QKTU#WVTGU FG RQWT NGU $NCPEU#WVTGU GV FG RQWT NGU *KURCPKSWG#WVTGU 'P GNNGU TGRToUGPVCKGPV FG i FW VQVCN FGU WPKQPU GP HQPEVKQP FGU OQFGU FG ECNEWN WVKNKUoU
KPENWCPV QW PQP NGU *KURCPKSWGU %GVVG oXQNWVKQP GUV GPEQTG RNWU HTCRRCPVG EJG\ NGU CPU Q~ GPVTG GV FGU EQWRNGU OCTKoU GV i FGU EQWRNGU EQJCDKVCPV UQPV KPVGTGVJPKSWGU &G PQODTGWUGU RGTUQP PCNKVoU COoTKECKPGU FG NC RQNKVKSWG FW URQTV FGU OoFKCU UQPV GPICIoGU FCPU FGU WPKQPU KPVGTGVJPKSWGUKPVGTTCEKCNGU GV NGWTU GPHCPVU EQOOGPEGPV i QEEWRGT FGU RQUVGU VTpU RTGUVKIKGWZ %GRGPFCPV OqOG UK NC UQEKoVo COoTKECKPG C oPQTOoOGPV RTQITGUUo FCPU NµCEEGRVCVKQP FGU FKHHoTGPEGU GV UK EGU WPKQPU UQPV FoUQTOCKU CEEGRVoGU RCT WPG NCTIG OCLQTKVo FG NC RQRWNCVKQP GP RCTVKEWNKGT RCT NGU LGWPGU FGU RQEJGU FG ToUKUVCPEG GZKUVGPV GPEQTG FCPU EG RC[U Q~ NC HKUUWTG TCEKCNG GUV VQWLQWTU NµCZG OCLGWT FG UoRCTCVKQP GPVTG NGU EQOOWPCWVoU #KPUK NµWPKXGTUKVo $QD ,10'5 GP %CTQNKPG FW 5WF PµC OKU WP VGTOG i UC RQNKVKSWG FµKPVGTFKEVKQP FGU NKCKUQPU KPVGTTCEKCNGU SWµGP GV EGVVG OqOG CPPoG Nµ#NCDCOC HWV NG FGTPKGT oVCV i UWRRTKOGT FG UC EQPUVKVWVKQP NµKPVGTFKEVKQP QDUQNpVG FW OCTKCIG KPVGTGVJPKSWG CW ITCPF FCO FG FG UQP oNGEVQTCV #W 4Q[CWOG7PK NGU oVWFGU ToCNKUoGU UWT NC DCUG FW TGEGPUGOGPV FG °Q~ HKIWTCKV RQWT NC RTGOKpTG HQKU NC ECVoIQTKG ´/oVKUµ° UQWNKIPGPV oICNGOGPV NC PGVVG RTQITGUUKQP FGU WPKQPU
%H /KEJCGN , 415'0('.& 6JG #IG QH +PFGRGPFGPEG +PVGTTCEKCN 7PKQPU 5COG5GZ 7PKQPU CPF VJG %JCPIKPI #OGTKECP (COKN[ *CTXCTF *CTXCTF 7PKXGTUKV[ 2TGUU ²#OGTKECµU (COKNKGU CPF .KXKPI #TTCPIGOGPVU³
75 %GPUWU $WTGCW =JVVRYYYEGPUWUIQXRQRWNCVKQPYYYUQEFGOQJJ HCOERUJVON?
²+PVGTTCEKCN OCTTKCIG HNQWTKUJGU KP 75³ /50$% 0GYU =JVVRYYYOUPDEOUPEQOKF?
%QOOG RCT GZGORNG NG LWIG FG NC %QWT 5WRTqOG %NCTGPEG 6*1/#5 NµCPEKGPPG UoPCVTKEG %CTQN /15'.'; $4190 NµCPEKGP 5GEToVCKTG i NC &oHGPUG 9KNNKCO %1*'0 QW NµCEVGWT 4QDGTV &' 0+41 %H 6KIGT 911&5 QW NG 2ToUKFGPV $CTCM 1$#/# ²#NCDCOC TGRGCNU EGPVWT[QNF DCP QP KPVGTTCEKCN OCTTKCIGU³ 0QXGODGT GV ²$QD ,QPGU 7PKXGTUKV[ GPFU DCP QP KPVGTTCEKCN FCVKPI³ %00EQO /CTEJ =JVVRGFKVKQPEPPEQO#..21.+6+%5UVQTKGUDCNNQVYTCR?





KPVGTGVJPKSWGU .GWT RQWTEGPVCIG C oVo OWNVKRNKo RCT FGWZ GP NµGURCEG FG FKZ CPU CVVGKIPCPV FW VQVCN FGU OCTKCIGU GV FGU EQJCDKVCVKQPU TGEGPUoGU GP .GU RQWTEGPVCIGU FµWPKQPU GZQICOKSWGU QPV CWIOGPVo RQWT RTCVKSWGOGPV VQWU NGU ITQWRGU GVJPKSWGU i NµGZEGRVKQP FG EGWZ FGU JQOOGU KUUWU FGU OKPQTKVoU QTKIKPCKTGU Fµ#UKG FW 5WF SWK TGUVGPV TGNCVKXGOGPV UVCDNGU KNU UµoNpXGPV RCTOK NGU /oVKU i GPXKTQP RQWT NGU ´#WVTGU 0QKTUµ i RTpU FG NGU #PVKNNCKU UµKPUETKXGPV i RTGUSWG NGU %JKPQKU RCU NQKP FG GV NGU ´#WVTGU #UKCVKSWGUµ CWVQWT FG &µCWVTG RCTV NGU RGTUQPPGU KUUWGU FGU UGEQPFGU IoPoTCVKQPU
PoGU CW 4Q[CWOG7PK CHHKEJGPV FGU VCWZ FµWPKQPU KPVGTGVJPKSWGU DKGP UWRoTKGWTU i EGNNGU FGU RTGOKpTGU IoPoTCVKQPU i NµGZEGRVKQP FGU HGOOGU RCMKUVCPCKUGU %QPUoSWGPEG FG EGVVG oXQNWVKQP NG PQODTG FGU GPHCPVU C[CPV WPG CRRCTVGPCPEG GVJPKSWG RNWTKGNNG GUV GP RNGKP GUUQT &oLi GP FGU GPHCPVU FG OQKPU FG CPU FG RpTG QW FG OpTG FµQTKIKPG CPVKNNCKUG CXCKGPV NGWT CWVTG RCTGPV $NCPE +N GP oVCKV FG OqOG RQWT FGU GPHCPVU FG RpTG QW FG OpTG FµQTKIKPG EJKPQKUG OCKU EG RQWTEGPVCIG VQODCKV i UGWNGOGPV FG EGWZ C[CPV WP RpTG QW WPG OpTG FG UQWEJG KPFKGPPG &µCWVTGU RC[U CPINQUCZQPU UWKXGPV NC OqOG XQKG i NµKPUVCT FG Nµ#WUVTCNKG Q~ NG RQWTEGPVCIG FµWPKQPU KPVGTGVJPKSWGU CVVGKIPCKV GP .i GPEQTG NG VCWZ FGU OCTKCIGU GZQICOGU XCTKG GP HQPEVKQP FG ETKVpTGU EWNVWTGNU GV IoPoTCVKQPPGNU KN ETQuV HQTVGOGPV RQWT NGU KOOKITCPVU FG NC VTQKUKpOG IoPoTCVKQP GUV oNGXo GV GP RNGKPG ETQKUUCPEG RQWT NGU #DQTKIpPGU
OCKU UVCIPG RQWT NGU RGTUQPPGU QTKIKPCKTGU FG )TpEG FG *QPITKG GV Fµ+VCNKG #W %CPCFC NG PQODTG FG OCTKCIGU GZQICOGU C CWIOGPVo FG RNWU FG RCUUCPV FG GP i GP +EK EG UQPV NGU ,CRQPCKU SWK CXGE QPV NG VCWZ NG RNWU oNGXo UWKXKU RCT NGU RGTUQPPGU QTKIKPCKTGU Fµ#OoTKSWG .CVKPG
RWKU RCT NGU 0QKTU
4C[C /766#4#- ²/CTKVCN CUUKOKNCVKQP 'VJPKE +PVGTOCTTKCIG KP $TKVCKP³ VJ $KGPPKCN %QPHGTGPEG QH VJG #WUVTCNKCP 2QRWNCVKQP #UUQEKCVKQP %CPDGTTC R %4' (CEVUJGGVU ²;QWPI 2GQRNG KP $TKVCKP ³ HKI P 2TQRQTVKQP QH EJKNFTGP YKVJ QPG 9JKVG RCTGPV D[ GVJPKE ITQWR %H 5KGY'CP -*11 ²+PVGTOCTTKCIG KP #WUVTCNKC 2CVVGTPU D[ #PEGUVT[ IGPFGT CPF IGPGTCVKQP³ 2GQRNG CPF 2NCEG XQN P $QD $+44'.. ,QJP *+456 ²#DQTKIKPCN EQWRNGU CV VJG EGPUWU³ 2GQRNG CPF 2NCEG
RR


.GU RQWTEGPVCIGU FG %QToGPU FG %JKPQKU GV FG 5WF #UKCVKSWGU GPICIoU FCPU EG V[RG FG OCTKCIG oVCPV DGCWEQWR RNWU HCKDNGU &µCWVTG RCTV NC RNWRCTV FG EGU WPKQPU GZQICOKSWGU QPV NKGW CXGE FGU $NCPEU NGU CWVTGU EQODKPCKUQPU PG TGRToUGPVCPV SWG FW VQVCN 'P 0QWXGNNG <oNCPFG NGU FQPPoGU FKURQPKDNGU KPFKSWGPV SWG NGU KPFKXKFWU FG UQWEJG GWTQRoGPPG QPV FGU VCWZ TGNCVKXGOGPV HCKDNGU FG OCTKCIGU GZQICOGU
GPXKTQP CW EQPVTCKTG FG EGWZ VTpU oNGXoU GPTGIKUVToU RQWT NGU /CQTKU
RTpU FG GV FCPU WPG OQKPFTG OGUWTG RQWT NGU 2GWRNGU FW 2CEKHKSWG
2CEKHKE 2GQRNGU 5K JKUVQTKSWGOGPV NGU WPKQPU KPVGTGVJPKSWGU 'WTQRoGPU /CQTKU oVCKGPV NGU RNWU ToRCPFWGU GNNGU EpFGPV NC RNCEG CWLQWTFµJWK i EGNNGU GPVTG 'WTQRoGPU GV 2GWRNGU FW 2CEKHKSWG CNQTU SWG NGU EQODKPCKUQPU GVJPKSWGU FGXKGPPGPV FG RNWU GP RNWU EQORNGZGU NGU OCTKCIGU /CQTKU2GWRNGU FW 2CEKHKSWG GV 'WTQRoGPU#UKCVKSWGU UQPV VTpU HToSWGPVU .µWP FGU GHHGVU RQUKVKHU FG NC OWNVKRNKECVKQP FG EGU WPKQPU GV FG UQP EQTQNNCKTG NµCEETQKUUGOGPV FGU PCKUUCPEGU FµGPHCPVU OoVKUUoU GUV NµCOoNKQTCVKQP RTQITGUUKXG FW UQTV FGU OKPQTKVoU NG DTQWKNNCIG FGU XKGKNNGU HTQPVKpTGU GVJPKSWGU RQWTTCKV EQPFWKTG UGNQP WPG XKUKQP QRVKOKUVG i WPG RNWU ITCPFG VQNoTCPEG KPVGTGVJPKSWG i WP CHHCKDNKUUGOGPV UGPUKDNG FG NC FKUETKOKPCVKQP GV FQPE i WPG OGKNNGWTG KPVoITCVKQP UQEKCNG 'PHKP FCPU WP CXGPKT RNWU NQKPVCKP WPG RTQRQTVKQP PQPPoINKIGCDNG FG NC RQRWNCVKQP CHHKEJCPV FGU QTKIKPGU OWNVKRNGU NµGVJPKEKVo RGTFTCKV WPG ITCPFG RCTVKG FG UC HQPEVKQP FG ETKVpTG FG ToRCTVKVKQP FGU RQRWNCVKQPU GP ITQWRGU ENCKTGOGPV KFGPVKHKoU

5oRCTCVKQP TGLGV KPFKHHoTGPEG
*KUVQTKSWGOGPV NµWPG FGU RTGOKpTGU OCPKHGUVCVKQPU FG TGLGV i NµoICTF FµWPG EQOOWPCWVo HWV NµCPVKLWFCvUOG SWK UG VTCPUHQTOC
#PPG /+.#0 $TKCP *#// ¨ .GU WPKQPU KPVGTEWNVWTGNNGU © 6GPFCPEGU UQEKCNGU ECPCFKGPPGU PQ oVo RR %H 2CWN %#..+56'4 4QDGTV &+&*#/ &GDQTCJ 2166'4 'VJPKE KPVGTOCTTKCIG KP 0GY <GCNCPF 5VCVKUVKEU 0GY <GCNCPF 9QTMKPI 2CRGT 5GRVGODGT =YYYUVCVUIQXVP\PTTFQPN[TGUGDHEHHDDDEFDCGCEEG GVJPKEKPVGTOCTTKCIGKPP\RFH?




GP ´CPVKUoOKVKUOGµ CW pOG UKpENG &CPU UC EQPVTKDWVKQP 5VoRJCPKG .#74'0%' OQPVTG EQOOGPV CW EQWTU FG EGVVG RoTKQFG NµCPVKUoOKVKUOG NCVGPV C oVo ToCEVKXo RWKU KPUVTWOGPVCNKUo GP )TCPFG$TGVCIPG RQWT LWUVKHKGT CWZ [GWZ FµWPG RQRWNCVKQP NCUUG NµQTKIKPG FG NC IWGTTG FGU $QGTU .G UVoToQV[RG VTCFKVKQPPGN FW ´,WKH GV FG NµCTIGPVµ KPVoITGTC i EGVVG QEECUKQP WPG FKOGPUKQP HKPCPEKpTG GV ECRKVCNKUVG RNWU OQFGTPG SWK UGTC TGRTKUG WNVoTKGWTGOGPV &CPU NG ECU FµWPG RQRWNCVKQP ToRWVoG EWNVWTGNNGOGPV GV GVJPKSWGOGPV JQOQIpPG KN GZKUVG FG PQODTGWUGU HCnQPU FG XKXTG GPUGODNG UWT WP VGTTKVQKTG FQPPo ECT FGU FKUVKPEVKQPU RGWXGPV UµQRoTGT UWT FGU ETKVpTGU UQEKCWZ RTQHGUUKQPPGNU FG ENCUUG GVE .GU TCRRQTVU UQPV TGPFWU GPEQTG RNWU EQORNGZGU FCPU NG ECU FGU UQEKoVoU OWNVKEWNVWTGNNGU GNNGU FQKXGPV IoTGT GP QWVTG NGU TGXGPFKECVKQPU URoEKHKSWGU FG NGWTU OKPQTKVoU NGU oXGPVWGNU EQPHNKVU KPVGTGVJPKSWGU FoEQWNCPV FG NGWT ToRCTVKVKQP IoQITCRJKSWG NµCEEpU CWZ UGTXKEGU UQEKCWZ i NµGORNQK CWZ HKPCPEGOGPVU RWDNKEU GVE GV NGU ToVKEGPEGU FG NGWT OCLQTKVo .µKFoCN FG OKZKVo GVJPKSWG GV UQEKCNG EQORNpVG oVCPV FW FQOCKPG FG NµKPCEEGUUKDNG RQWT NµGPUGODNG FGU UQEKoVoU OWNVKEWNVWTGNNGU EQPVGORQTCKPGU NC EQJCDKVCVKQP KPVGTEQOOW PCWVCKTG RGWV [ RTGPFTG FGU HQTOGU KPVGTOoFKCKTGU QW VTCPUKVQKTGU GZVTqOGOGPV XCTKoGU 2CT GZGORNG #FTKGP 41&& PQWU DTQUUG NG VCDNGCW FGU oXoPGOGPVU RQNKVKSWGU ToEGPVU CWZ ËNGU (KFLK Q~ NGU EQWRU FµdVCV UG UWEEpFGPV UCPU CRRQTVGT FG UQNWVKQPU XKCDNGU CWZ VGPUKQPU KPVGTGVJPKSWGU SWK UoXKUUGPV GPVTG (KFLKGPU KPFKIpPGU
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