)0'2672-(:6.,
'(5,',27 (LQ5RPDQLQYLHU7HLOHQ
9HUODJ352*5(660RVNDX $XVGHP5XVVLVFKHQEHUVHW]WYRQ+5|KO ,...
45 downloads
1283 Views
5MB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
)0'2672-(:6.,
'(5,',27 (LQ5RPDQLQYLHU7HLOHQ
9HUODJ352*5(660RVNDX $XVGHP5XVVLVFKHQEHUVHW]WYRQ+5|KO ,PSRUWDXVJDEH 0LW(LQYHUVWlQGQLVGHV,QVHO9HUODJHV/HLS]LJ
'HU,GLRWHUVFKLHQDOV]ZHLWHUGHUJURHQ5RPDQWUDJ|GLHQ'RVWRMHZVNLV,P0LWWHOSXQNW VWHKW)UVW0\VFKNLQHLQWUDJLVFKHU'RQ4XLMRWHGHUDOVZDKUKDIWJXWHU0HQVFKEHUGLHGQQH .UXVWH ZDQGHOWXQWHUGHUGLH7KHPHQGHU=HLWZLGHUKDOOHQ 5XODQG GLH |VWOLFKH 0\VWLN XQG 5HOLJLRVLWlWJHJHQ ,QGXVWULDOLVLHUXQJ(LVHQEDKQHQXQG1LKLOLVPXV0\VFKNLQNHKUWYRQHLQHP ODQJHQ 6DQDWRULXPVDXIHQWKDOW QDFK 3HWHUVEXUJ ]XUFN 6FKRQ LP =XJ OHUQW HU 5RJRVFKLQ NHQQHQ GHU LKQ LQ HLQ 'UHLHFNVYHUKlOWQLV KLQHLQ]LHKW DXV GHP 0\VFKNLQ VLFK QLFKW PHKU EHIUHLHQ NDQQ $P (QGH LVW 0\VFKNLQ ZLH YRU GHP 6DQDWRULXPVDXIHQWKDOW HLQ ,GLRW HLQ KHLOLJHU1DUUGHUGHP-DKUKXQGHUWXQGXQVHLQHQVFKZDU]HQ6SLHJHOYRUKlOW
6FDQGHU/HVHU ./HVHU
(567(57(,/ , (V ZDU JHJHQ (QGH GHV 1RYHPEHU EHL 7DXZHWWHU DOV VLFK XP QHXQ 8KU PRUJHQV HLQ =XJ GHU 3HWHUVEXUJ:DUVFKDXHU %DKQ LQ YROOHU )DKUW 3HWHUVEXUJ QlKHUWH 'DV :HWWHU ZDU VR IHXFKWXQGQHEOLJGDGDV7DJHVOLFKWNDXP]XU*HOWXQJNDP PDQ NRQQWH UHFKWV XQG OLQNV YRQ GHU %DKQ DXV GHQ )HQVWHUQ GHU :DJHQ QXU DXI ]HKQ 6FKULWWH PLW 0KH HWZDV HUNHQQHQ 8QWHU GHQ 3DVVDJLHUHQ ZDUHQ HLQLJH GLH DXV GHP $XVODQG ]XUFNNHKUWHQ DP PHLVWHQ JHIOOW ZDUHQ DEHU GLH $EWHLOH GULWWHU .ODVVH XQG ]ZDU IDVW DXVVFKOLHOLFK PLW NOHLQHQ *HVFKlIWVOHXWHQ GLH DXV QLFKW VHKU ZHLWHU (QWIHUQXQJ NDPHQ $OOH ZDUHQ ZLH GDV VR ]X VHLQ SIOHJW PGH DOOHQ ZDUHQ ZlKUHQG GHU 1DFKW GLH $XJHQOLGHU VFKZHU JHZRUGHQ DOOH IU|VWHOWHQ DOOH *HVLFKWHU ZDUHQ JHOEOLFK YRQ GHUVHOEHQ )DUEH ZLHGHU1HEHO ,Q HLQHP :DJHQ GULWWHU .ODVVH VDHQ HLQDQGHU VHLW GHP 0RUJHQJUDXHQ GLFKW DP )HQVWHU ]ZHL 3DVVDJLHUH JHJHQEHU EHLGHV MXQJH /HXWH EHLGH IDVW RKQH *HSlFN EHLGH QLFKW HOHJDQWJHNOHLGHWEHLGHPLWUHFKWLQWHUHVVDQWHQ*HVLFKWHUQXQG EHLGH YRQ GHP :XQVFK HUIOOW HQGOLFK PLWHLQDQGHU LQ HLQ *HVSUlFK ]X NRPPHQ :HQQ VLH EHLGH YRQHLQDQGHU JHZXW KlWWHQ ZRGXUFK VLH JHUDGH LQ GLHVHP $XJHQEOLFN LQWHUHVVDQW ZDUHQ VR KlWWHQ VLH VLFK JHZL GDUEHU JHZXQGHUW GD GHU =XIDOO VLH VR VHOWVDP LQ HLQHP :DJHQ GULWWHU .ODVVH GHU 3HWHUVEXUJ:DUVFKDXHU (LVHQEDKQ HLQDQGHU JHJHQEHUJHVHW]W KDWWH 'HU HLQH YRQ LKQHQ ZDU YRQ NOHLQHU 6WDWXU HWZD VLHEHQXQG]ZDQ]LJ -DKUH DOW XQG KDWWH NUDXVHV IDVW VFKZDU]HV +DDU XQG NOHLQH JUDXH DEHU IHXULJH $XJHQ 6HLQH 1DVH ZDU EUHLWXQGSODWWJHGUFNWGLH%DFNHQNQRFKHQWUDWHQVWDUNKHUYRU
GLH VFKPDOHQ /LSSHQ YHU]RJHQ VLFK IRUWZlKUHQG ]X HLQHP GUHLVWHQ VS|WWLVFKHQ XQG VRJDU ERVKDIWHQ /lFKHOQ DEHU VHLQH 6WLUQ ZDU KRFK XQG JXW JHIRUPW XQG YHUVFK|QWH GHQ XQYRUQHKPJHVFKQLWWHQHQXQWHUHQ7HLOGHV*HVLFKWV%HVRQGHUV DXIIlOOLJ ZDU DQ GLHVHP *HVLFKW VHLQH 7RWHQEOlVVH GLH GHU JDQ]HQ3K\VLRJQRPLHGHVMXQJHQ0DQQHVWURW]VHLQHU]LHPOLFK NUlIWLJHQ .RQVWLWXWLRQ GHQ $QVFKHLQ GHU (UVFK|SIXQJ YHUOLHK XQG ]XJOHLFK GHQ $QVFKHLQ HLQHU TXDOYROOHQ /HLGHQVFKDIWOLFKNHLW GLH PLW VHLQHP IUHFKHQ XQK|IOLFKHQ /lFKHOQ XQG VHLQHP VFKDUIHQ VHOEVW]XIULHGHQHQ %OLFN QLFKW UHFKWLP(LQNODQJVWDQG(UZDUZDUP JHNOHLGHWGHQQHUWUXJ HLQHQ ZHLWHQ VFKZDU]HQ PLW 7XFK EHU]RJHQHQ 3HO] DXV /DPPIHOOXQGKDWWHLQGHU1DFKWQLFKWJHIURUHQZlKUHQGVHLQ 5HLVHJHIlKUWH DQ VHLQHP IURVW]LWWHUQGHQ 5FNHQ GLH JDQ]H $QQHKPOLFKNHLW HLQHU IHXFKWHQ UXVVLVFKHQ 1RYHPEHUQDFKW KDWWH DXVKDOWHQ PVVHQ DXI GLH HU RIIHQEDU QLFKW KLQUHLFKHQG YRUEHUHLWHWZDU(UWUXJHLQHQ]LHPOLFKZHLWHQGLFNHQ 0DQWHO RKQHbUPHOXQGPLWHLQHUJHZDOWLJHQ.DSX]HYRQGHU$UWZLH PDQ VLH RIW DXI 5HLVHQ ]XU :LQWHU]HLW LUJHQGZR LP IHUQHQ $XVODQG EHQXW]W ]XP %HLVSLHO LQ GHU 6FKZHL] RGHU LQ 2EHULWDOLHQ ZR PDQ GDEHL QDWUOLFK DXFK QLFKW PLW VR ZHLWHQ )DKUWHQ UHFKQHW ZLH GHU YRQ (\GWNXKQHQ QDFK 3HWHUVEXUJ $EHUZDVLQ,WDOLHQWDXJWHXQGY|OOLJDXVUHLFKWHHUZLHVVLFKLQ 5XODQGDOVJDQ]XQWDXJOLFK'HU(LJHQWPHUGHV0DQWHOVPLW GHU .DSX]H ZDU HLQ MXQJHU 0HQVFK GHU JOHLFKIDOOV LP $OWHU YRQ HWZD VHFKVXQG]ZDQ]LJ RGHU VLHEHQXQG]ZDQ]LJ -DKUHQ VWDQG HWZDV EHU 0LWWHOJU|H PLW VHKU KHOOEORQGHP GLFKWHP +DDU KRKOHQ :DQJHQ XQG HLQHP NOHLQHQ VSLW]HQ IDVW JDQ] ZHLHQ%lUWFKHQ6HLQH$XJHQZDUHQJUREODXXQGUXKLJLQ LKUHP %OLFN ODJ HWZDV 6WLOOHV DEHU %HGUFNWHV HWZDV YRQ MHQHP HLJHQWPOLFKHQ $XVGUXFN DQ GHP PDQFKH DXI GHQ HUVWHQ%OLFNGHQ(SLOHSWLNHUHUNHQQHQ'DV*HVLFKWGHVMXQJHQ 0DQQHV ZDU EULJHQV DQJHQHKP PLW IHLQHQ =JHQ XQG QLFKW ]X IOHLVFKLJ DEHU IDUEORV QXU GD HV DXJHQEOLFNOLFK JHUDGH]X
EODX JHIURUHQ ZDU $Q VHLQHQ +lQGHQ EDXPHOWH HLQ VFKPlFKWLJHV %QGHOFKHQ GDV LQ HLQHP DOWHQ YHUEOLFKHQHQ VHLGHQHQ 7XFK ZLH HV VFKLHQ VHLQ JDQ]HV 5HLVHJHSlFN HQWKLHOW $Q GHQ )HQ KDWWH HU GLFNVRKOLJH 6FKXKH PLW *DPDVFKHQ ± DOOHV LQ QLFKWUXVVLVFKHU $UW 6HLQ VFKZDU] KDDULJHU 5HLVHJHQRVVH LQ GHP WXFKEHU]RJHQHQ 3HO] PXVWHUWH GLHVDOOHVJHQDX]XP7HLOZHLOHUQLFKWVDQGHUHV]XWXQKDWWH XQGIUDJWHVFKOLHOLFKPLWMHQHP WDNWORVHQ /lFKHOQ GXUFK GDV PDQFKPDO LQ VR XQJHQLHUWHU JHULQJVFKlW]LJHU :HLVH GDV 9HUJQJHQGHU/HXWHEHUGDV0LJHVFKLFNGHV1lFKVWHQ]XP $XVGUXFNNRPPWª,VW,KQHQNDOW"© (U PDFKWH GDEHL %HZHJXQJHQ PLW GHQ 6FKXOWHUQ ª-D VHKU NDOW©DQWZRUWHWHGHU5HLVHJHQRVVHPLWJURHU%HUHLWZLOOLJNHLW ªXQGVHKHQ6LHGDEHLKDEHQZLUQRFK7DXZHWWHU:LHZlUHHV HUVWZHQQZLU.lOWHKlWWHQ",FKKDWWHJDUQLFKWJHGDFKWGDHV EHL XQV VR NDOW ZlUH ,FK ELQ HV QLFKW PHKU JHZRKQW© ª6LH NRPPHQ ZRKO DXV GHP $XVODQG"© ª-D DXV GHU 6FKZHL]© ª)W1XQVHKHQ6LHHLQPDODQ© 'HU6FKZDU]KDDULJHWDWHLQHQ3ILIIXQGODFKWH (V NDP HLQ *HVSUlFK LQ *DQJ 'LH %HUHLWZLOOLJNHLW GHV EORQGHQ MXQJHQ 0DQQHV LQ GHP 6FKZHL]HUPDQWHO DXI DOOH )UDJHQ VHLQHV VFKZDU]KDDULJHQ *HIlKUWHQ ]X DQWZRUWHQ ZDU HUVWDXQOLFK HU PHUNWH LQ VHLQHU +DUPORVLJNHLW RIIHQEDU JDU QLFKW GD PDQFKH GLHVHU )UDJHQ VHKU JHULQJVFKlW]LJ NODQJHQ XQGK|FKVWXQSDVVHQGXQGPLJZDUHQ%HLVHLQHQ$QWZRUWHQ WHLOWHHUXQWHUDQGHUHPPLWGDHUWDWVlFKOLFKODQJH=HLWQLFKW LQ5XODQGJHZHVHQVHLEHUYLHU-DKUHPDQKDEHLKQZHJHQ HLQHU .UDQNKHLW LQV $XVODQG JHVFKLFNW ZHJHQ HLQHU HLJHQWPOLFKHQ 1HUYHQNUDQNKHLW QDFK $UW GHU (SLOHSVLH RGHU GHV9HLWVWDQ]HVGLHVLFKLQ=XFNXQJHQXQG.UlPSIHQJHlXHUW KDEH 'HU VFKZDU]KDDULJH MXQJH 0DQQ OlFKHOWH EHLP =XK|UHQ HLQLJH0DOHQDPHQWOLFKODFKWHHUDXI DOVDXI GLH )UDJH ª1D VLQG 6LH GHQQ QXQ JHKHLOW"© GHU %ORQGH HUZLGHUWH ª1HLQ JHKHLOW ELQ LFK QLFKW© ª+DKD 'D KDEHQ 6LH DOVR ,KU *HOG
YHUJHEHQV EH]DKOW XQG ZLU KLHU VFKHQNHQ MHQHQ /HXWHQ 9HUWUDXHQ© EHPHUNWH GHU 6FKZDU]KDDULJH VS|WWLVFK ª-D GDV LVW GXUFKDXV ULFKWLJ© PLVFKWH VLFK HLQ GDQHEHQVLW]HQGHU VFKOHFKW JHNOHLGHWHU +HUU LQ GDV *HVSUlFK VR HLQH $UW YRQ JHULHEHQHP $PWVVFKUHLEHU HWZD YLHU]LJ -DKUH DOW NUlIWLJ JHEDXWPLWURWHU1DVH XQG HLQHP *HVLFKW YROOHU 3LFNHO ª'DV LVWGXUFKDXVULFKWLJVLHVDXJHQXQV5XVVHQGDV0DUNDXVRKQH VHOEVWHWZDVGDIU]XOHLVWHQ© ª2K ZLH 6LH VLFK LQ PHLQHP )DOO LUUHQ© HUZLGHUWH GHU 6FKZHL]HU 3DWLHQW LQ UXKLJHP YHUV|KQOLFKHP 7RQ ª,FK NDQQ MD DOOHUGLQJV QLFKW GDUEHU GLVSXWLHUHQ ZHLO LFK NHLQHQ *HVDPWEHUEOLFN KDEH DEHU PHLQ $U]W KDW PLU YRQ GHP ZHQLJHQ ZDV HU EHVD QRFK GDV *HOG IU GLH )DKUW KLHUKHU JHJHEHQXQGIDVW]ZHL-DKUHODQJKDWHUPLFKGRUWDXVVHLQHQ HLJHQHQ 0LWWHOQ XQWHUKDOWHQ© ª:LH" +DWWHQ 6LH ZLUNOLFK QLHPDQG GHU IU 6LH EH]DKOWH"© IUDJWH GHU 6FKZDU]KDDULJH ª1HLQ +HUU 3DZOLVFKWVFKHZ GHU GLH .RVWHQ PHLQHV GRUWLJHQ $XIHQWKDOWV JHWUDJHQ KDWWH LVW YRU ]ZHL -DKUHQ JHVWRUEHQ LFK VFKULHE GDQQ KLHUKHU DQ GLH *HQHUDOLQ -HSDQWVFKLQD HLQH HQWIHUQWH 9HUZDQGWH YRQ PLU KDEH DEHU NHLQH $QWZRUW HUKDOWHQ6RELQLFKGHQQKHUJHUHLVW©ª:RJHGHQNHQ6LHGHQQ ]XEOHLEHQ"©ª6LHPHLQHQZRLFK:RKQXQJQHKPHQZHUGH" 'DV ZHL LFK QRFK QLFKW ZLUNOLFK QLFKW HV LVW QRFK XQJHZL © ª'DUEHU KDEHQ 6LH QRFK NHLQHQ (QWVFKOX JHIDW"© %HLGH =XK|UHU EUDFKHQ YRQ QHXHP LQ HLQ *HOlFKWHU DXV ª8QG GLHVHV %QGHOFKHQ HQWKlOW ZRKO ,KUH JDQ]H +DEH"© IUDJWHGHU6FKZDU]KDDULJHª,FKP|FKWHZHWWHQGDHVVRLVW© ILHOPLWVHKU]XIULHGHQHU0LHQHGHUURWQDVLJH%HDPWHHLQªXQG GD 6LH NHLQ ZHLWHUHV *HSlFN LP *HSlFNZDJHQ KDEHQ 2EZRKO $UPXW NHLQH 6FKDQGH LVW ZLH PDQ LPPHU ZLHGHU EHPHUNHQPX© (V VWHOOWH VLFK KHUDXV GD HV VLFK ZLUNOLFK VR YHUKLHOW GHU EORQGH MXQJH 0DQQ JHVWDQG GLHV VRIRUW PLW JURHU
%HUHLWZLOOLJNHLW HLQ ª,KU %QGHOFKHQ KDW WURW]GHP HLQHQ JHZLVVHQ:HUW©IXKUGHU%HDPWHQDFKGHPHUVLFKVDWWJHODFKW KDWWH IRUW EHPHUNHQVZHUW ZDU GD DXFK GHU (LJHQWPHU GHV %QGHOFKHQV VHOEVW VFKOLHOLFK EHLP $QEOLFN GHU EHLGHQ PLW]XODFKHQ DQILQJ ZDV GHUHQ +HLWHUNHLW QRFK YHUJU|HUWH ª0DQP|FKWH]ZDUZHWWHQGDNHLQH5ROOHQPLWDXVOlQGLVFKHQ *ROGVWFNHQ ZLH 1DSROHRQGRUV )ULHGULFKVGRUV RGHU KROOlQGLVFKHQ'XNDWHQGDULQVLQGGDVNDQQPDQ]XP%HLVSLHO VFKRQ DXV ,KUHQ DXVOlQGLVFKHQ *DPDVFKHQ VFKOLHHQ DEHU ZHQQ PDQ ]X ,KUHP %QGHOFKHQ QRFK HLQH VROFKH 9HUZDQGWH KLQ]XQLPPW ZLH GLH *HQHUDOLQ -HSDQWVFKLQD GDQQ JHZLQQW DXFK GDV %QGHOFKHQ JHZLVVHUPDHQ HLQHQ K|KHUHQ :HUW VHOEVWYHUVWlQGOLFK QXU LQ GHP )DOO ZHQQ GLH *HQHUDOLQ -HSDQWVFKLQDZLUNOLFK,KUH9HUZDQGWHLVWXQG6LHVLFKQLFKWDXV =HUVWUHXWKHLW LUUHQ ZDV HLQHP DXHURUGHQWOLFK OHLFKW SDVVLHUHQ NDQQ VDJHQ ZLU LQIROJH HLQHV hEHUPDHV YRQ 3KDQWDVLH© ª2K 6LH KDEHQ ZLHGHU GDV 5LFKWLJH JHWURIIHQ© HUZLGHUWH GHU EORQGH MXQJH 0HQVFK ªGHQQ LFK EHILQGH PLFK ZLUNOLFKEHLQDKLQHLQHP,UUWXPGDVKHLWVLHLVWNDXPPHLQH 9HUZDQGWH MD LFK KDEH PLFK WDWVlFKOLFK GDPDOV JDU QLFKW GDUEHU JHZXQGHUW GD LFK NHLQH $QWZRUW QDFK GHU 6FKZHL] EHNDP ,FKKDWWHGDV HLJHQWOLFK DXFK VR HUZDUWHW© ª'D KDEHQ 6LH GDV *HOG IU GLH )UDQNLHUXQJ GHV %ULHIHV XQQW] DXVJHJHEHQ+P1XQZHQLJVWHQVVLQG6LHRIIHQKHU]LJXQG DXIULFKWLJXQGGDVLVWO|EOLFK+P'HQ*HQHUDO-HSDQWVFKLQ NHQQH LFK LP *UXQGH ZHLO HU HLQH DOOJHPHLQ EHNDQQWH 3HUV|QOLFKNHLW LVW XQG GHQ YHUVWRUEHQHQ +HUUQ 3DZOLVFKWVFKHZ GHU 6LH LQ GHU 6FKZHL] XQWHUKDOWHQ KDW KDEH LFK HEHQIDOOV JHNDQQW YRUDXVJHVHW]W GD HV VLFK XP 1LNRODL $QGUHMHZLWVFK 3DZOLVFKWVFKHZ KDQGHOW GHQQ HV ZDUHQ ]ZHL 9HWWHUQ 'HU DQGHUH EHILQGHW VLFK QRFK DXI GHU .ULP 1LNRODL $QGUHMHZLWVFK DEHU GHU 9HUVWRUEHQH ZDU HLQ VHKU DFKWEDUHU 0DQQ KDWWH JXWH 9HUELQGXQJHQ XQG EHVD VHLQHU]HLW YLHUWDXVHQG 6HHOHQ © ª*DQ] ULFKWLJ HU KLH 1LNRODL
$QGUHMHZLWVFK 3DZOLVFKWVFKHZ© 1DFKGHP GHU MXQJH 0HQVFK GLHVH $QWZRUW JHJHEHQ KDWWH EHWUDFKWHWH HU XQYHUZDQGW XQG PLW OHEKDIWHP ,QWHUHVVH GHQ +HUUQ GHU VLFK EHU DOOHV VR JXW RULHQWLHUW]HLJWH 'LHVH+HUUHQ$OOHVZLVVHUEHJHJQHQHLQHPPDQFKPDOXQGLQ HLQHU EHVWLPPWHQ JHVHOOVFKDIWOLFKHQ 6FKLFKW VRJDU ]LHPOLFK KlXILJ 6LH ZLVVHQ DOOHV GHU JDQ]H XQUXKLJH )RUVFKXQJVWULHE LKUHV 9HUVWDQGHV XQG LKUH JHVDPWHQ )lKLJNHLWHQ VWUHEHQ XQDXIKDOWVDP QDFK HLQHU 6HLWH KLQ QDWUOLFK LQIROJH GHV 0DQJHOVDQZLFKWLJHUHQ/HEHQVLQWHUHVVHQXQG$QVFKDXXQJHQ ZLH HLQ PRGHUQHU 'HQNHU VLFK DXVGUFNHQ ZUGH %HL GHP $XVGUXFNªVLHZLVVHQDOOHV©PXPDQEULJHQVDQHLQ]LHPOLFK EHVFKUlQNWHV*HELHWGHQNHQZRGHUXQGGHUDQJHVWHOOWLVWPLW ZHP HU EHNDQQW LVW ZLHYLHO 9HUP|JHQ HU EHVLW]W ZR HU *RXYHUQHXU JHZHVHQLVWZDVIUHLQH )UDX HU JHQRPPHQKDW ZLHYLHO0LWJLIWHUGDEHLHUKDOWHQKDWZHUVHLQ9HWWHUXQGVHLQ HQWIHUQWHUHU 9HWWHU LVW XQG VR ZHLWHU XQG VR ZHLWHU XQG VRQVW QRFK DOOHUOHL YRQ GLHVHU $UW *URHQWHLOV JHKHQ GLHVH $OOHVZLVVHU PLW GXUFKJHVWRHQHQ (OOERJHQ XPKHU XQG EHNRPPHQVLHE]HKQ5XEHO*HKDOWPRQDWOLFK'LH /HXWH EHU GLH VLH DOOH P|JOLFKHQ (LQ]HOKHLWHQ ZLVVHQ ZUGHQ QDWUOLFK QLFKW VDJHQ N|QQHQ ZDUXP MHQH DQ LKQHQ HLQ GHUDUWLJHV ,QWHUHVVH KDEHQ XQG GDEHL ILQGHQ YLHOH GLHVHU $OOHVZLVVHU DQ GLHVHP :LVVHQ GDV HLQHU JDQ]HQ :LVVHQVFKDIW JOHLFKNRPPW HLQ DXVJHVSURFKHQHV 9HUJQJHQ XQG JHODQJHQ GDGXUFK ]X 6HOEVWDFKWXQJXQGVRJDU]XHLQHPVHKUKRKHQ *UDGVHHOLVFKHU =XIULHGHQKHLW 8QG HV LVW DXFK HLQH YHUIKUHULVFKH :LVVHQVFKDIW ,FK KDEH *HOHKUWH /LWHUDWHQ 'LFKWHU XQG 6WDDWVPlQQHU JHNDQQW GLH LQ GLHVHU :LVVHQVFKDIW LKUH JU|WH %HIULHGLJXQJ LKU K|FKVWHV =LHO IDQGHQ XQG VRJDU DXVJHVSURFKHQQXUKLHUGXUFK.DUULHUHPDFKWHQ ,P ZHLWHUHQ 9HUODXI GLHVHV *HVSUlFKV JlKQWH GHU VFKZDU]KDDULJH MXQJH 0HQVFK EOLFNWH ]LHOORV GXUFKV )HQVWHU XQG ZDUWHWH PLW 8QJHGXOG DXI GDV (QGH GHU 5HLVH (U ZDU
HWZDV ]HUVWUHXW VRJDU VHKU ]HUVWUHXW EHLQDK DXIJHUHJW MD HU EHQDKP VLFK HLQLJHUPDHQ VRQGHUEDU PDQFKPDO K|UWH HU ]X RKQH UHFKW ]X]XK|UHQ VDK RKQH UHFKW ]X VHKHQ XQG ODFKWH RKQHLPQlFKVWHQ$XJHQEOLFN]XZLVVHQXQGVLFK]XHULQQHUQ ZRUEHU HU HLJHQWOLFK JHODFKW KDWWH ª$EHU JHVWDWWHQ 6LH GLH )UDJH PLW ZHP KDEH LFK GLH (KUH"© ZDQGWH VLFK DXI HLQPDO GHU+HUUPLWGHP*HVLFKWYROOHU3LFNHODQGHQEORQGHQMXQJHQ 0DQQ PLW GHP %QGHOFKHQ ª)UVW /HZ 1LNRODMHZLWVFK 0\VFKNLQ© DQWZRUWHWH GLHVHU RKQH ]X ]|JHUQ PLW JU|WHU %HUHLWZLOOLJNHLW ª)UVW 0\VFKNLQ" /HZ 1LNRODMHZLWVFK" .HQQH LFK QLFKW 1LFKW HLQPDO YRP +|UHQVDJHQ© DQWZRUWHWH GHU %HDPWH QDFKGHQNHQG ª'DV KHLW LFK PHLQH QLFKW GHQ 1DPHQ GHU 1DPH LVW MD KLVWRULVFK XQG LQ .DUDPVLQV *HVFKLFKWH 5XODQGV ]X ILQGHQ LFK PHLQH ,KUH 3HUVRQ XQG EHUKDXSW EHJHJQHQ )UVWHQ 0\VFKNLQ HLQHP QLUJHQGV PHKU PDQK|UWYRQLKQHQQLFKWHLQPDOUHGHQ©ª:LHN|QQWHHVDXFK DQGHUVVHLQ©YHUVHW]WHGHU )UVWVRJOHLFK ª)UVWHQ0\VFKNLQ JLEWHVMHW]WDXHUPLUJDUNHLQHPHKULFKJODXEHLFKELQGHU OHW]WH 8QG ZDV PHLQHQ 9DWHU XQG PHLQHQ *URYDWHU DQODQJW VR EHVDHQ GLH QXU HLQ HLQ]LJHV *XW DXI GHP VLH ]XUFN± JH]RJHQ OHEWHQ 0HLQ 9DWHU ZDU EULJHQV /HXWQDQW EHL GHU /LQLH YRUKHU )lKQULFK 8QG QXQ ZHL LFK QLFKW LQ ZHOFKHU :HLVH GLH *HQHUDOLQ -HSDQWVFKLQD ]X GHQ 0\VFKNLQVFKHQ )UVWHQW|FKWHUQ JHK|UW VLH LVW HEHQIDOOV GLH /HW]WH LQ LKUHU $UW © ª+DKDKD'LH/HW]WHLQLKUHU$UW+DKD:LH6LHGDV JHGUHKWKDEHQ©NLFKHUWHGHU%HDPWH $XFK GHU VFKZDU]KDDULJH MXQJH 0DQQ OlFKHOWH 'HU %ORQGH ZDU HWZDV YHUOHJHQ GD HV LKP JHOXQJHQ ZDU HLQ DOOHUGLQJV ]LHPOLFK HLQIDFKHV :RUWVSLHO ]X PDFKHQ ª6HLHQ 6LH EHU]HXJW LFK KDEH HV JDQ] RKQH $EVLFKW JHVDJW© HUNOlUWH HU VFKOLHOLFK HLQLJHUPDHQ EHIDQJHQ ª6HKU EHJUHLIOLFK VHKU EHJUHLIOLFK© VWLPPWH LKP GHU %HDPWH KHLWHU EHL ª+DEHQ 6LH :RUWVSLHO 'HU UXVVLVFKH $XVGUXFN NDQQ KHLHQ ª'LH /HW]WH LKUHV *HVFKOHFKWV©RGHUªGLH*HULQJVWHYRQLKUHU6RUWH©
GHQQ GRUW DXFK :LVVHQVFKDIWHQ EHWULHEHQ )UVW EHL ,KUHP 3URIHVVRU"© IUDJWH XQYHUPLWWHOW GHU 6FKZDU]KDDULJH ª-D DOOHUGLQJV© ª,FKIUPHLQH3HUVRQKDEHQLHHWZDVVWXGLHUW© ª$XFKLFKQXUHLQNOHLQZHQLJ©IJWHGHU)UVWLQHLQHP7RQH KLQ]X GHU EHLQDK ZLH HLQH %LWWH XP (QWVFKXOGLJXQJ NODQJ ª0LU HLQHQ UHJXOlUHQ 8QWHUULFKW ]X HUWHLOHQ KLHOW PDQ LQ $QEHWUDFKWPHLQHU.UDQNKHLWQLFKWIUP|JOLFK©ª.HQQHQ6LH GLH )DPLOLH 5RJRVKLQ"© IUDJWH GHU VFKZDU]KDDULJH MXQJH 0HQVFK VFKQHOO ª1HLQ LFK NHQQH VLH QLFKW JDU QLFKW ,FK NHQQH LQ 5XODQG EHUKDXSW QXU ZHQLJH 0HQVFKHQ ,VW ,KU 1DPH5RJRVKLQ"©ª-DLFKKHLH5RJRVKLQ3DUIHQ5RJRVKLQ© ª3DUIHQ" 6LQG 6LH GD QLFKW YLHOOHLFKW HLQ 0LWJOLHG HEHQ MHQHU )DPLOLH 5RJRVKLQ © EHJDQQ GHU %HDPWH PLW QRFK JHVWHLJHUWHU :LFKWLJWXHUHL ª-DZRKO HEHQ MHQHU HEHQ MHQHU© XQWHUEUDFK LKQ VFKQHOO XQG PLW XQK|IOLFKHU 8QJHGXOG GHU 6FKZDU]KDDULJHGHUEHUKDXSWGHP%HDPWHQPLWGHP*HVLFKW YROOHU 3LFNHO QLH %HDFKWXQJ JHVFKHQNW VRQGHUQ JOHLFK YRQ $QIDQJDQLPPHUQXU]XGHP)UVWHQJHVSURFKHQKDWWHª-D LVWHVP|JOLFK"©ULHIGHU%HDPWHVWDUUYRU6WDXQHQGLH$XJHQ WUDWHQ LKP EHLQDK DXV GHQ +|KOHQ XQG VHLQ JDQ]HV *HVLFKW QDKP VRJOHLFK HLQHQ HKUHUELHWLJHQ NQHFKWLVFKHQ MD HUVFKURFNHQHQ $XVGUXFN DQ ª6LQG 6LH HLQ 6RKQ HEHQ MHQHV HUEOLFKHQ (KUHQEUJHUV 6HPMRQ 3DUIHQRZLWVFK 5RJRVKLQ GHU YRU HLQHP 0RQDW VWDUE XQG HLQ EDUHV .DSLWDO YRQ ]ZHL XQG HLQHU KDOEHQ 0LOOLRQ KLQWHUOLH"© ª:RKHU KDEHQ 6LH GHQQ HUIDKUHQ GD HU HLQ EDUHV .DSLWDO YRQ ]ZHL XQG HLQHU KDOEHQ 0LOOLRQKLQWHUODVVHQKDW"©XQWHUEUDFKLKQGHU6FKZDU]KDDULJH GHU VLFK DXFK GLHVPDO QLFKW GD]X KHUDEOLH GHQ %HDPWHQ DQ]XVHKHQ ª1XQ VHKH PDO HLQHU GHQ .HUO DQ© (U ]ZLQNHUWH GHP)UVWHQ]X ª8QGZDVKDEHQGLH/HXWHQXUGDYRQGDVLH VLFK VRIRUW PLW 6FKPHLFKHOHLHQ DQ HLQHQ KHUDQPDFKHQ" $EHU ZDKU LVW GD PHLQ 9DWHU JHVWRUEHQ LVW XQG LFK MHW]W HLQHQ 0RQDW QDFKKHU EHLQDK RKQH 6WLHIHO YRQ 3VNRZ QDFK +DXVH IDKUH:HGHUPHLQQLHGHUWUlFKWLJHU%UXGHUQRFKPHLQH0XWWHU
KDEHQPLU*HOGRGHUHLQH%HQDFKULFKWLJXQJJHVFKLFNW±QLFKWV KDEHQ VLH PLU JHVFKLFNW $OV RE LFK HLQ +XQG ZlUH (LQHQ JDQ]HQ 0RQDW ODQJ KDEH LFK LQ 3VNRZ LP )LHEHU JHOHJHQ© ª$EHUMHW]WZHUGHQ6LHPHKUDOVHLQ0LOOL|QFKHQPLWHLQHPPDO EHNRPPHQ PLQGHVWHQV VRYLHO R PHLQ +HUUJRWW© ULHI GHU %HDPWH XQG VFKOXJ GLH +lQGH ]XVDPPHQ ª1D ZDV JHKW LKQ GDV DQ" 6DJHQ 6LH ELWWH VHOEVW© VDJWH 5RJRVKLQ ZLHGHU PLW GHP .RSIH DXI LKQ KLQGHXWHQG LQ JHUHL]WHP XQG lUJHUOLFKHP 7RQ ª,FK ZHUGH ,KQHQ MD GRFK QLFKW HLQH HLQ]LJH .RSHNH JHEHQXQGZHQQ6LHVLFKYRUPLUDXIGHQ.RSIVWHOOHQXQGDXI GHQ+lQGHQJHKHQ© ª'DVZHUGHLFKWXQGDV ZHUGHLFKWXQ© ª'D KDEHQ ZLU¶V $EHU LFK ZHUGH ,KQHQ QLFKWV JHEHQ JDU QLFKWV XQG ZHQQ 6LH HLQH JDQ]H :RFKH ODQJ WDQ]HQ© ª6LH EUDXFKHQPLUQLFKWV]XJHEHQ'DVYHUODQJHLFKDXFKJDUQLFKW 6LHEUDXFKHQPLUQLFKWV]XJHEHQ$EHULFKZHUGHGRFKWDQ]HQ 0HLQH )UDX XQG PHLQH NOHLQHQ .LQGHU ZHUGH LFK LP 6WLFK ODVVHQXQGYRU,KQHQWDQ]HQ$XVUHLQHU/LHEHQVZUGLJNHLW© ª3IXLEHU6LH©VDJWHGHU6FKZDU]KDDULJHXQGVSXFNWHDXV ª9RUIQI:RFKHQEHIDQGLFKPLFKLQGHPVHOEHQ=XVWDQGZLH 6LHMHW]W©ZDQGWHHUVLFKDQGHQ)UVWHQª0LWHLQHPHLQ]LJHQ %QGHOFKHQHQWIORKLFKYRUPHLQHP9DWHUQDFK3VNRZ]XHLQHU 7DQWHXQGGRUWKDEHLFKDP)LHEHUNUDQNJHOHJHQXQGHULVWLQ PHLQHU $EZHVHQKHLW JHVWRUEHQ (LQ 6FKODJIOX KDW LKP GHQ *DUDXV JHPDFKW ,FK ZQVFKH GHP 9HUVWRUEHQHQ GLH HZLJH 5XKH DEHU HU KDW PLFK GDPDOV IDVW ]X 7RGH JHSUJHOW 6LH N|QQHQHVPLUJODXEHQ)UVWEHL*RWW:lUHLFKGDPDOVQLFKW GDYRQJHODXIHQVRKlWWHHUPLFKDXIGHP)OHFNWRWJHVFKODJHQ© ª+DWWHQ 6LH LKQ GXUFK LUJHQG HWZDV JHUHL]W"© IUDJWH GHU )UVW XQG EHWUDFKWHWH PLW HLQHP JHZLVVHQ EHVRQGHUHQ ,QWHUHVVH GHQ 0LOOLRQlULP6FKDISHO] $EHU REJOHLFK VFKRQ LQ GHP %HJULII HLQHU ]X HUEHQGHQ 0LOOLRQ P|JOLFKHUZHLVH HWZDV 0HUNZUGLJHV ODJ VR ZDU GD GRFK QRFK HWZDV DQGHUHV ZDV GHQ )UVWHQ LQ 9HUZXQGHUXQJ YHUVHW]WHXQGVHLQ,QWHUHVVHZHFNWHXQGDXFK5RJRVKLQVHOEVW
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ª(UZDU]RUQLJJHZLMDXQGYLHOOHLFKWQLFKW RKQH *UXQG© DQWZRUWHWH 5RJRVKLQ ªDEHU ZHU VLFK DP VFKOLPPVWHQ JHJHQ PLFK EHQDKP GDV ZDU PHLQ %UXGHU 9RQ PHLQHU0XWWHUZLOOLFKQLFKWVVDJHQVLHLVWHLQHDOWH)UDXOLHVW GLH /HEHQVEHVFKUHLEXQJHQ GHU +HLOLJHQ VLW]W PLW DOWHQ :HLEHUQ]XVDPPHQXQGZDV%UXGHU6HQNDDQRUGQHWGDVPX JHVFKHKHQ $EHU HU ZDUXP KDW HU PLFK VHLQHU]HLW QLFKW EHQDFKULFKWLJW" 1D EHJUHLIHQ OlW HV VLFK VFKRQ (V LVW ZDKU LFK ODJ GDPDOV RKQH %HVLQQXQJ 8QG HV ZDU DXFK HLQ 7HOHJUDPP DEJHVFKLFNW VDJHQ VLH 8QG HV LVW DXFK HLQ 7HOHJUDPP EHL GHU 7DQWH DQJHNRPPHQ $EHU VLH LVW VHLW GUHLLJ -DKUHQ :LWZH XQG VLW]W LPPHU YRP 0RUJHQ ELV ]XP $EHQGPLW*RWWHVQDUUHQ]XVDPPHQ6LHLVWEHLQDKHLQH1RQQH RGHU HLJHQWOLFK QRFK VFKOLPPHU DOV HLQH 1RQQH 9RU 7HOHJUDPPHQ KDW VLH YRQ MHKHU $QJVW JHKDEW XQG VR KDW VLH DXFKGLHVHVXQHU|IIQHWDXIGHU3ROL]HLDEJHOLHIHUWXQGGDZLUG HV ZRKO QRFK OLHJHQ (UVW .RQHZ :DVVLOLM :DVVLOMHZLWVFK .RQHZ KDW VLFK PHLQHU DQJHQRPPHQ XQG PLU DOOHV JHVFKULHEHQ 9RQ GHU %URNDWGHFNH DXI GHP 6DUJH GHV 9DWHUV KDW GHU %UXGHU EHL 1DFKW GLH PDVVLY JROGHQHQ 4XDVWHQ DEJHVFKQLWWHQ XQG JHVDJW ¾'LH VLQG HLQHQ WFKWLJHQ %DW]HQ *HOGZHUW½ 6FKRQDOOHLQGDIUNDQQHUQDFK6LELULHQNRPPHQ ZHQQ LFK ZLOO GHQQ GDV LVW +HLOLJWXPVVFKlQGXQJ +H 6LH 9RJHOVFKHXFKH© ZDQGWH HU VLFK DQ GHQ %HDPWHQ ª:LH VWHKW
HV LP *HVHW] LVW GDV +HLOLJWXPVVFKlQGXQJ"© ª-DZRKO +HLOLJWXPVVFKlQGXQJ +HLOLJWXPVVFKlQGXQJ© VWLPPWH LKP GHU %HDPWH VRJOHLFK EHL ª8QG NRPPW HLQHU GDIU QDFK 6LELULHQ"© ª*HZL QDFK 6LELULHQ QDFK 6LELULHQ 2KQH ZHLWHUHV QDFK 6LELULHQ© ª%HL PLU ]X +DXVH GHQNHQ VLH EHVWLPPW GD LFK QRFK NUDQN VHL© IXKU 5RJRVKLQ ]X GHP )UVWHQJHZHQGHWIRUWª$EHULFKKDEHPLFKRKQHHLQ:RUW]X VDJHQREZRKOLFKQRFKQLFKWKHUJHVWHOOWELQVWLOODXIGLH%DKQ JHVHW]WXQGIDKUHMHW]WKLQ1XQPDFKPLUGDV7RUDXI%UXGHU 6HPMRQ6HPMRQRZLWVFK(UKDWPLFKEHLPHLQHPYHUVWRUEHQHQ 9DWHUYHUSHW]WGDVZHLLFK$EHU GD LFK ZLUNOLFK GXUFK GLH *HVFKLFKWH PLW 1DVWDVMD )LOLSSRZQD GDPDOV GHQ 9DWHU DXIJHEUDFKWKDEHGDVLVWZDKU'DKDEHLFKDOOHLQVFKXOG'DV KDEH LFK LQ HLQHP $XJHQEOLFN GHU 8QEHGDFKWVDPNHLW JHWDQ© ª'XUFK GLH *HVFKLFKWH PLW 1DVWDVMD )LOLSSRZQD"© VDJWH GHU %HDPWH LQ NULHJHULVFKHP 7RQH ZLH ZHQQ HU HWZDV EHUOHJWH ª'LH'DPHNHQQHQ6LHQLFKW©VFKULHLKQ5RJRVKLQXQJHGXOGLJ DQ ª8QG LFK NHQQH VLH GRFK© HUZLGHUWH GHU %HDPWH WULXPSKLHUHQG ª$FK ZDV (V JLEW YLHOH 'DPHQ GLH 1DVWDVMD )LOLSSRZQD KHLHQ 8QG LFK PX VDJHQ ZDV VLQG 6LH IU HLQ XQYHUVFKlPWHV6XEMHNW1DGDVKDEHLFKGRFKJOHLFKJHZXW GDVLFKLUJHQGVRHLQ6XEMHNWDQPLFKKlQJHQZLUG©IXKUHU ]XP )UVWHQ JHZHQGHW IRUW ª$EHU YLHOOHLFKW NHQQH LFK VLH GRFK© YHUVHW]WH GHU %HDPWH EHKDUUOLFK ª'D PWH LFK QLFKW /HEHGHZ VHLQ ZHQQ LFK VLH QLFKW NHQQHQ VROOWH (XHU 'XUFKODXFKWEHOLHEHQPLUHLQHQ9RUZXUI]XPDFKHQDEHUZLH ZHQQ LFK ,KQHQ GHQ %HZHLV OLHIHUH" $OVR HV LVW GLHVHOEH 1DVWDVMD)LOLSSRZQDXPGHUHQWZLOOHQ,KU9DWHU6LHPLWHLQHP +DVHOVWRFN HUPDKQHQ ZROOWH HV LVW 1DVWDVMD )LOLSSRZQD %DUDVFKNRZD VR]XVDJHQ VRJDU HLQH YRUQHKPH 'DPH XQG LQ LKUHU $UW HLQH )UVWLQ XQG VLH KDW HLQ 9HUKlOWQLV PLW HLQHP JHZLVVHQ 7R]NLM PLW $IDQDVVLM ,ZDQRZLWVFK 7R]NLM DXV± VFKOLHOLFK PLW GLHVHP HLQHQ HLQHP *XWVEHVLW]HU XQG *UR± NDSLWDOLVWHQ0LWJOLHGYHUVFKLHGHQHU+DQGHOVJHVHOOVFKDIWHQGHU
LQIROJHGLHVHUVHLQHUNRPPHU]LHOOHQ7lWLJNHLWPLWGHP*HQHUDO -HSDQWVFKLQ LQ VHKU IUHXQGVFKDIWOLFKHU %H]LHKXQJ VWHKW © ª1D QXQ VLHK PDO DQ© ULHI 5RJRVKLQ ZLUNOLFK HUVWDXQW DXV ª3IXL 7HXIHO HU ZHL ZDKUKDIWLJ JHQDX %HVFKHLG© ª(U ZHL DOOHV /HEHGHZ ZHL DOOHV $XFK $OH[DVFKND /LFKDWVFKRZV %HJOHLWHU ELQ LFK ]ZHL 0RQDWH ODQJ JHZHVHQ (XHU 'XUFKODXFKWXQG]ZDUHEHQIDOOVQDFKGHP7RGHVHLQHV9DWHUV XQGLFKNHQQHDOOHJHUDGH]XDOOHVHLQH+HLPOLFKNHLWHQXQGHV NDPVRZHLWGDHURKQHPLFKNHLQHQ6FKULWWWDW-HW]WVLW]WHU LP 6FKXOGJHIlQJQLV DEHU GDPDOV KDWWH LFK *HOHJHQKHLW DXFK )UlXOHLQ $UPDQFH XQG )UlXOHLQ &RUDOLH XQG GLH )UVWLQ 3D]NDMD XQG 1DVWDVMD )LOLSSRZQD NHQQHQ]XOHUQHQ XQG DXFK YLHOHV YLHOHV ]X HUIDKUHQ KDWWH LFK *HOHJHQKHLW© ª1DVWDVMD )LOLSSRZQD"+DWVLH HWZD PLW /LFKDWVFKRZ © ULHI 5RJRVKLQ XQG EOLFNWH GHQ 5HGHQGHQ E|VH DQ VRJDU VHLQH /LSSHQ ZDUHQ EOD JHZRUGHQ XQG ]LWWHUWHQ ª1±HLQ 1±HLQ (QWVFKLHGHQ QHLQ© EHHLOWH VLFK GHU %HDPWH VFKQHOO JHIDW ]X HUZLGHUQ ª%HL GHU NRQQWH /LFKDWVFKRZ GXUFK NHLQ *HOG ]XP =LHOH JHODQJHQ1HLQGLHLVWYRQDQGHUHU$UWDOV)UlXOHLQ$UPDQFH 'DLVW7R]NLMGHUHLQ]LJH$EHQGVVLW]WVLHLP*URHQ7KHDWHU RGHU LP )UDQ]|VLVFKHQ 7KHDWHU LQ LKUHU HLJHQHQ /RJH 'LH 2IIL]LHUHUHGHQMDGDXQWHUVLFK DOOHUOHLDEHUDXFKGLHN|QQHQ QLFKWV EHZHLVHQ ¾'D LVW GLH EHUKPWH 1DVWDVMD )LOLSSRZQD½ VDJHQVLHDEHUGDVLVWDXFKDOOHVVRQVWLVWGDQLFKWV]XVDJHQ :HLO HEHQ QLFKWV YRUOLHJW© ª-D VR YHUKlOW VLFK GDV DOOHV© EHVWlWLJWH 5RJRVKLQ PLW WUEHU ILQVWHUHU 0LHQH ª$XFK 6DOMRVKHZKDWHVPLUGDPDOVJHVDJW,FKJLQJGDPDOV)UVWLQ HLQHP 6FKQXUURFN GHQ PHLQ 9DWHU VFKRQ YRU ]ZHL -DKUHQ DEJHOHJW KDWWH EHU GHQ 1HZVNLM 3URVSHNW XQG VLH NDP DXV HLQHP /DGHQ KHUDXV XQG VWLHJ LQ LKUHQ :DJHQ 'D VWDQG LFK DXI GHU 6WHOOH LQ )ODPPHQ ,FK EHJHJQHWH PHLQHP )UHXQGH 6DOMRVKHZ GHU VDK DQGHUV DXV DOV LFK HU JHKW ZLH HLQ )ULVHXUJHKLOIHLPPHUGLH/RUJQHWWHLP$XJHZLUDEHUPXWHQ EHL XQVHUP 9DWHU LQ 6FKPLHUVWLHIHOQ JHKHQ XQG XQV PLW
IDVWHQPlLJHU .RKOVXSSH DPVLHUHQ ¾'LH LVW QLFKWV IU GLFK½ VDJWH HU ¾GDV LVW½ VDJWH HU ¾HLQH )UVWLQ VLH KHLW 1DVWDVMD )LOLSSRZQD PLW GHP )DPLOLHQQDPHQ %DUDVFKNRZD XQG OHEW PLW 7R]NLM 7R]NLM DEHU ZHL MHW]W QLFKW ZLH HU YRQ LKU ORVNRPPHQ VROO ZHLO HU QlPOLFK VFKRQ JDQ] LQ GLH VROLGHQ -DKUHKLQHLQJHNRPPHQLVW HU LVW IQIXQGIQI]LJ DOW XQG HLQH GHU HUVWHQ 6FK|QKHLWHQ YRQ 3HWHUVEXUJ KHLUDWHQ ZLOO½ 'DQQ WHLOWH HU PLU QRFK PLW GD LFK 1DVWDVMD )LOLSSRZQD DQ GHPVHOEHQ 7DJH LP *URHQ 7KHDWHU ZLHGHUVHKHQ N|QQH LP %DOOHWW VLH ZHUGH LQ LKUHU 3DUWHUUHORJH VLW]HQ %HL XQV ]X +DXVHEHLXQVHUP9DWHUGDKlWWHHVPDOHLQHUSURELHUHQVROOHQ XQG VDJHQ HU ZROOH LQV %DOOHWW JHKHQ GHU 9DWHU KlWWH NXU]HQ 3UR]H JHPDFKW XQG LKQ KDOEWRW JHSUJHOW ,FK VFKOLFK PLFK LQGHVVHQ VWLOO IU HLQ 6WQGFKHQ ZHJ XQG VDK 1DVWDVMD )LOLSSRZQDZLHGHU'LHJDQ]HIROJHQGH1DFKWNRQQWHLFKQLFKW VFKODIHQ $P DQGHUQ 0RUJHQ JDE PLU GHU 9DWHU ]ZHL IQISUR]HQWLJH 6WDDWVVFKXOGVFKHLQH MHGHQ ]X IQIWDXVHQG 5XEHO XQG VDJWH ¾*HK KLQ XQG YHUNDXIH VLH GDQQ WUDJH VLHEHQWDXVHQGIQIKXQGHUW5XEHO]X$QGUHMHZDXIV.RQWRUXQG EH]DKOHVLHGRUWXQGZDVGXYRQ GHQ]HKQWDXVHQGQRFKEULJ KDVWGDVEULQJ JHUDGHVZHJVKLHUKHUXQGOLHIHUHHVPLU DE LFK ZHUGHDXIGLFKZDUWHQ½ 'LH6WDDWVVFKXOGVFKHLQHYHUNDXIWHLFK XQG HPSILQJ GDV *HOG GDIU DEHU ]X $QGUHMHZ DXIV .RQWRU EHJDELFKPLFKQLFKWVRQGHUQLFKJLQJRKQHPLFKXP]XVHKHQ QDFK GHP (QJOLVFKHQ 0DJD]LQ XQG VXFKWH GRUW IU GDV JDQ]H *HOGHLQ3DDU2KUJHKlQJHDXVMHGHVPLWHLQHP%ULOODQWHQIDVW YRQ1XJU|HYLHUKXQGHUW5XEHOEOLHELFKQRFKVFKXOGLJLFK QDQQWH PHLQHQ 1DPHQ XQG PDQ JDE PLU .UHGLW 0LW GHQ 2KUJHKlQJHQ JLQJ LFK JOHLFK ]X 6DOMRVKHZ ¾6R XQG VR %UXGHU½VDJWHLFK¾ZLUZROOHQ]X1DVWDVMD)LOLSSRZQDJHKHQ½ :LUJLQJHQKLQ:DVLFKGDPDOVXQWHUGHQ)HQXQGYRUPLU XQGUHFKWVXQGOLQNVKDWWHZHLLFKQLFKWGDUDQKDEHLFKNHLQH (ULQQHUXQJ :LU WUDWHQ EHL LKU JOHLFK LQ GHQ 6DORQ HLQ XQG GDQQ NDP VLH VHOEVW ]X XQV ,FK OLH EULJHQV GDPDOV QLFKW
EHNDQQW ZHUGHQ GD LFK VHOEVW GHU *HEHU VHL VRQGHUQ 6DOMRVKHZ VDJWH ¾9RQ 3DUIHQ 5RJRVKLQ GHU 6LH JHVWHUQ JHVHKHQ KDW HLQ NOHLQHV $QGHQNHQ KDEHQ 6LH GLH *HZRJHQKHLW HV DQ]XQHKPHQ½ 6LH |IIQHWH GDV (WXL EHWUDFKWHWH GHQ 6FKPXFN XQG OlFKHOWH ¾6DJHQ 6LH ,KUHP )UHXQG +HUUQ 5RJRVKLQ PHLQHQ 'DQN VDJWH VLH ¾IU VHLQH OLHEHQVZUGLJH$XIPHUNVDPNHLW½ 'DQQYHUQHLJWHVLHVLFKXQG JLQJ KLQDXV 1D ZDUXP ELQ LFK GDPDOV QLFKW GRUW DXI GHP )OHFNJHVWRUEHQ$EHUZHQQLFKIRUWJLQJVRWDWLFKHVPLWGHP *HGDQNHQ ¾/HEHQGLJ NRPPH LFK GRFK QLH ZLHGHU KHU½ :DV LFK DEHU DP VFKZHUVWHQ DOV .UlQNXQJ HPSIDQG GDV ZDU GD GLHVH.DQDLOOHGHU6DOMRVKHZVLFKDQJHPDWKDWWHDOOHVDOOHLQ ]XUHGHQXQG]XWXQ,FKELQYRQNOHLQHU6WDWXUXQGZDUZLHHLQ 3OHEHMHU JHNOHLGHW XQG KDWWH GDJHVWDQGHQ VLH DQJHVWDUUW XQG JHVFKZLHJHQ ZHLO LFK PLFK VFKlPWH HU DEHU LQ PRGLVFKHP $Q]XJPLWSRPDGLVLHUWHPXQGJHNUlXVHOWHP+DDUPLWVHLQHP IULVFKHQ 7HLQW XQG VHLQHU NDULHUWHQ .UDZDWWH KDWWH GHQ /LHEHQVZUGLJHQ JHVSLHOW XQG HLQ 0DO EHU GDV DQGHUH JHGLHQHUW XQG DOOHU :DKUVFKHLQOLFKNHLW QDFK KDWWH VLH LKQ IU PLFK JHQRPPHQ ¾1D½ VDJWH LFK DOV ZLU KLQDXVJHJDQJHQ ZDUHQ¾GXZDJHQLFKWGLFKZLHGHUEHLPLUEOLFNHQ]XODVVHQ YHUVWHKVW GX"½ (U ODFKWH ¾$EHU ZLH ZLUVW GX MHW]W YRU GHLQHP 9DWHU 6HPMRQ 3DUIHQ\WVFK 5HFKHQVFKDIW DEOHJHQ"½ 'LH :DKUKHLW]XVDJHQLFKKDWWHGDPDOVVFKRQYRURKQHHUVWQDFK +DXVH]XJHKHQPLFKLQV:DVVHU]XVWU]HQDEHULFKGDFKWH ¾(VLVWMDGRFKJDQ]JOHLFK½ XQGNHKUWHZLHHLQDUPHU6QGHU QDFK +DXVH ]XUFN© ª2 ZHK R ZHK© VDJWH GHU %HDPWH XQG VFKQLWWGDEHLHLQH*ULPDVVHMDHUVFKWWHOWHVLFKVRJDUPLWGHP JDQ]HQ /HLEH 8QG GHU 6HOLJH ZDU LPVWDQGH QLFKW QXU ZHJHQ ]HKQ±WDXVHQG VRQGHUQ VFKRQ ZHJHQ ]HKQ 5XEHO HLQHQ LQV -HQVHLWV]XSHGLHUHQ©(UQLFNWHGHP)UVWHQ]X'HU)UVWVDK 5RJRVKLQ PLW OHEKDIWHP ,QWHUHVVH DQ HV VFKLHQ DOV VHL GHU LQ GLHVHP $XJHQEOLFN QRFK EODVVHU ª'D]X ZDU HU LPVWDQGH© ZLHGHUKROWH 5RJRVKLQ ª$EHU ZDV ZLVVHQ 6LH GDYRQ"© 'DQQ
HU]lKOWH HU GHP )UVWHQ ZHLWHU ª(U HUIXKU VRJOHLFK DOOHV 6DOMRVKHZ KDWWH HV MHGHP GHU LKP EHJHJQHWH DXVJHVFKZDW]W 'HU 9DWHU QDKP PLFK VFKOR PLFK LP REHUHQ 6WRFNZHUN HLQ XQG SUJHOWH PLFK HLQH JDQ]H 6WXQGH ODQJ ¾8QG GDV LVW QXU HLQH 9RUEHUHLWXQJ IU GLFK½ VDJWH HU ¾+HXWH DEHQG NRPPH LFK XP GLU JXWH 1DFKW ]X VDJHQ½ 6ROOWH PDQ¶V JODXEHQ" 'HU DOWH0DQQIXKU]X1DVWDVMD)LOLSSRZQDYHUEHXJWHVLFKWLHIYRU LKU XQG IOHKWH VLH XQWHU 7UlQHQ DQ HQGOLFK KROWH VLH LKP GDV (WXL KHUEHL ZDUI HV LKP KLQ XQG VDJWH ¾'D KDVW GX GHLQH 2KUULQJH DOWHU *UDXEDUW VLH VLQG IU PLFK MHW]W XP GDV =HKQIDFKH LP :HUW JHVWLHJHQ QXQ LFK ZHL GD 3DUIHQ VLH HLQHPVRVWUHQJHQ9DWHU]XP7URW]EHVFKDIIWKDW*UH3DUIHQ 6HPMRQ\WVFKYRQPLUXQGEHVWHOOHLKPPHLQHQ'DQN½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©ª1XQQXQ MHW]WZLUGDEHU1DVWDVMD )LOLSSRZQDLQHLQHUDQGHUQ7RQDUW]X XQV UHGHQ© NLFKHUWH GHU %HDPWH XQG ULHE VLFK GDEHL GLH +lQGH ª:DV LVW MHW]W DQ MHQHP 2KUJHKlQJH JHOHJHQ PHLQ +HUU -HW]W ZHUGHQ ZLU LKU VROFKH 2KUJHKlQJH ]XP (UVDW] VFKHQNHQ GD © ª+|UHQ 6LH PDO ZHQQ 6LH QXU QRFK HLQ HLQ]LJHV 0DO HLQ :RUW EHU 1DVWDVMD )LOLSSRZQD VDJHQ GDQQ JQDGH,KQHQ*RWW,FKZHUGH6LHGXUFKSUJHOQZHQQ6LHDXFK PLW/LFKDWVFKRZYHUNHKUWKDEHQ©VFKULH5RJRVKLQXQGSDFNWH LKQNUlIWLJDP.UDJHQª$EHUZHQQ6LHPLFKGXUFKSUJHOQVR EHGHXWHWGDVGD6LHPLFKQLFKWYRQVLFKVWRHQ3UJHOQ6LH PLFK*HUDGHGDGXUFKJHZLQQHQ6LHPLFK]XP)UHXQGH:HQQ
6LH PLFK GXUFKJHKDXHQ KDEHQ VR KDEHQ 6LH JHUDGH GDGXUFK XQVHUH)UHXQGVFKDIWEHVLHJHOW$EHUGDVLQGZLUDQJHODQJW© 6LH IXKUHQ WDWVlFKOLFK LQ GHQ %DKQKRI HLQ 2EJOHLFK 5RJRVKLQ JHVDJW KDWWH GD HU JDQ] LQ GHU 6WLOOH DEJHUHLVW LVW HUZDUWHWHQ LKQ GRFK VFKRQ PHKUHUH 0HQVFKHQ 6LH ULHIHQ XQG ZLQNWHQ LKP PLW GHQ 0W]HQ ª1XQ VLHK PDO 6DOMRVKHZ LVW DXFK GD© PXUPHOWH 5RJRVKLQ LQGHP HU PLW HLQHP WULXPSKLHUHQGHQ VRJDU HWZDV ERVKDIWHQ /lFKHOQ QDFK LKQHQ KLQEOLFNWH GDQQ ZDQGWH HU VLFK DXI HLQPDO ]XP )UVWHQ ª)UVWLFKZHLQLFKWZHVZHJHQLFKGLFKOLHEJHZRQQHQKDEH 9LHOOHLFKW ZHLO LFK GLFK LQ HLQHP VROFKHQ $XJHQEOLFN JHWURIIHQKDEHDEHUGHQKLHUKDEHLFKGRFKDXFKJHWURIIHQ©HU ZLHV DXI /HEHGHZ ªXQG GHQ KDEH LFK QLFKW OLHEJHZRQQHQ .RPP ]X PLU )UVW :LU ZHUGHQ GLU GLHVH *DPDVFKHQ DXV]LHKHQ LFK ZHUGH GLU GHQ EHVWHQ 0DUGHUSHO] NDXIHQ GLU GHQ VFK|QVWHQ )UDFN PDFKHQ ODVVHQ HLQH ZHLH :HVWH RGHU ZDVIUHLQHGXVRQVWZQVFKVWLFKZHUGHGLUGLH7DVFKHQYROO *HOGVWRSIHQXQGGDQQ ZROOHQ ZLU ]X 1DVWDVMD )LOLSSRZQD IDKUHQ:LUVWGXNRPPHQRGHUQLFKW"©ª*HKHQ6LHGDUDXIHLQ )UVW/HZ1LNRODMHZLWVFK©IJWH/HEHGHZLQHLQGULQJOLFKHP IHLHUOLFKHP 7RQH KLQ]X ª/DVVHQ 6LH VLFK GDV MD QLFKW HQWJHKHQ/DVVHQ6LHVLFKGDVMDQLFKWHQWJHKHQ© )UVW 0\VFKNLQ VWDQG DXI VWUHFNWH 5RJRVKLQ K|IOLFK GLH +DQG KLQ XQG VDJWH IUHXQGOLFK ]X LKP ª,FK ZHUGH PLW GHP JU|WHQ 9HUJQJHQ NRPPHQ XQG GDQNH ,KQHQ KHU]OLFK GDIU GD 6LH PLFK OLHEJHZRQQHQ KDEHQ ,FK ZHUGH VRJDU YLHOOHLFKW KHXWH VFKRQ NRPPHQ ZHQQ LFK =HLW ILQGH 'HQQ LFK VDJH ,KQHQ DXIULFKWLJ DXFK 6LH KDEHQ PLU VHKU JHIDOOHQ XQG EHVRQGHUVDOV6LHYRQGHQ%ULOODQWRKUJHKlQJHQHU]lKOWHQ$EHU DXFK VFKRQ YRU GHQ 2KUJHKlQJHQ KDEHQ 6LH PLU JHIDOOHQ REZRKO6LHHLQHVRGVWHUH0LHQHKDEHQ,FKGDQNH,KQHQDXFK IU GLH YHUVSURFKHQHQ .OHLGHU XQG GHQ 3HO] GHQQ LFK ZHUGH ZLUNOLFK .OHLGHU XQG HLQHQ 3HO] EDOG Q|WLJ KDEHQ $Q *HOG EHVLW]H LFK LQ GLHVHP $XJHQEOLFN NDXP HLQH .RSHNH© ª*HOG
ZLUGGDVHLQ]XP$EHQGZLUG*HOGGDVHLQNRPPQXU© ª(V ZLUG GDVHLQ ZLUG GDVHLQ© HFKRWH GHU %HDPWH ª=XP $EHQG QRFK YRU 6RQQHQXQWHUJDQJ ZLUG ZHOFKHV GDVHLQ© ª6LQG 6LH HLQ JURHU )UHXQG GHV ZHLEOLFKHQ *HVFKOHFKWV )UVW" 6DJHQ 6LH HV PLU VFKRQ YRUKHU© ª,FK" 1±Q±QHLQ ,FK ELQ MD 6LH ZLVVHQ YLHOOHLFKW QLFKW LFK NHQQH MD LQIROJH PHLQHU DQJHERUHQHQ .UDQNKHLW GLH )UDXHQ EHUKDXSW QLFKW© ª1XQZHQQ¶VVRLVW©ULHI5RJRVKLQªVRELVWGXMDHLQULFKWLJHU *RWWHVQDUU )UVW XQG VROFKH 0HQVFKHQ ZLH GLFK OLHEW *RWW© ª8QG VROFKH 0HQVFKHQ OLHEW *RWW GHU +HUU© ZLHGHUKROWH GHU %HDPWH ª8QG 6LH N|QQHQ PLU IROJHQ 6LH 6FKPHLIOLHJH© VDJWH 5RJRVKLQ ]X /HEHGHZ XQG DOOH YHUOLHHQ GHQ %DKQZDJHQ /HEHGHZKDWWHDOVRVFKOLHOLFKGRFKVHLQ =LHOHUUHLFKW %DOG HQWIHUQWH VLFK GHU OlUPHQGH +DXIH LQ 5LFKWXQJ GHV :RVQHVVHQVNLM 3URVSHNWV 'HU )UVW PXWH VLFK QDFK GHU /LWHMQDMDZHQGHQ(VZDUIHXFKWXQGQDGHU)UVWHUNXQGLJWH VLFK EHL 9RUEHUJHKHQGHQ HU K|UWH GD HV ELV ]XP (QGH VHLQHV:HJHVHWZDGUHL:HUVWVHLHQXQGHQWVFKLHGVLFKGDIU HLQH'URVFKNH]XQHKPHQ
,, 'HU *HQHUDO -HSDQWVFKLQ ZRKQWH LQ VHLQHP HLJHQHQ +DXVH HWZDV VHLWZlUWV YRQ GHU /LWHMQDMD QDFK GHU 3UHREUDVKHQVNLM± .DWKHGUDOH]X$XHUGLHVHPVWDWWOLFKHQ+DXVHYRQGHP IQI 6HFKVWHOYHUPLHWHWZDUHQEHVD*HQHUDO-HSDQWVFKLQQRFKHLQ JHZDOWLJHV +DXV LQ GHU 6DGRZDMD GDV JOHLFKIDOOV HLQHQ VHKU KRKHQ (UWUDJ EUDFKWH $XHU GLHVHQ EHLGHQ +lXVHUQ KDWWH HU GLFKW EHL 3HWHUVEXUJ HLQ VHKU EHGHXWHQGHV HLQWUlJOLFKHV *XW XQG IHUQHU LP 3HWHUVEXUJHU .UHLVH HLQH )DEULN ,Q IUKHUHQ
=HLWHQ KDWWH *HQHUDO -HSDQWVFKLQ ZLH DOOJHPHLQ EHNDQQW ZDU VLFK DXFK DQ %UDQQWZHLQSDFKWXQJHQ EHWHLOLJW -HW]W ZDU HU 0LWJOLHG PHKUHUHU VROLGHU $NWLHQJHVHOOVFKDIWHQ XQG KDWWH GRUW HLQHVHKUJHZLFKWLJH6WLPPH(UJDOWDOVHLQ0DQQPLWJURHP 9HUP|JHQ DXVJHGHKQWHU 7lWLJNHLW XQG HLQIOXUHLFKHQ 9HUELQGXQJHQ$QPDQFKHQ6WHOOHQKDWWHHUHVYHUVWDQGHQVLFK Y|OOLJXQHQWEHKUOLFK]XPDFKHQXQWHUDQGHUPDXFKLQVHLQHP 'LHQVW $EHU GDQHEHQ ZDU DXFK EHNDQQW GD ,ZDQ )MRGRURZLWVFK -HSDQWVFKLQ HLQ 0DQQ RKQH %LOGXQJ ZDU GHU 6RKQHLQHVJHPHLQHQ6ROGDWHQGLHVNRQQWHLKPRKQH =ZHLIHO QXU ]XU (KUH JHUHLFKHQ DEHU REJOHLFK GHU *HQHUDO HLQ YHUVWlQGLJHU 0HQVFK ZDU VR ZDU HU GRFK QLFKW IUHL YRQ NOHLQHQVHKUYHU]HLKOLFKHQ6FKZlFKHQXQGOLHEWHHVQLFKWGD MHPDQG DXI JHZLVVH 'LQJH DQVSLHOWH $EHU HLQ YHUVWlQGLJHU JHZDQGWHU0HQVFKZDUHUXQVWUHLWLJ6R]XP%HLVSLHOEHIROJWH HUGHQ*UXQGVDW]VLFKQLFKWYRU]XGUlQJHQZRHV]ZHFNPlLJ ZDU LQ GHQ +LQWHUJUXQG ]X WUHWHQ XQG YLHOH VFKlW]WHQ LKQ JHUDGH ZHJHQ VHLQHU 6FKOLFKWKHLW JHUDGH GHVZHJHQ ZHLO HU LPPHUVHLQHQ3ODW]NDQQWH:HQQLQGHVVHQGLHVH%HXUWHLOHUQXU JHVHKHQ KlWWHQ ZDV PDQFKPDO LQ ,ZDQ )MRGRURZLWVFKV 6HHOH YRUJLQJ GHU VHLQHQ 3ODW] VR JXW NDQQWH 2EZRKO HU ZLUNOLFK JURH*HVFKLFNOLFKNHLWXQG(UIDKUXQJLQLUGLVFKHQ'LQJHQXQG PDQFKH EHDFKWHQVZHUWH )lKLJNHLWHQ EHVD VR YHUPLHG HU HV GRFKDOVGHUJHLVWLJH8UKHEHUHLQHV3ODQHV]XHUVFKHLQHQXQG WDWOLHEHUVRDOVIKUHHUQXUHLQHIUHPGH,GHHDXVHUJDEVLFK DOV HLQ 0DQQ GHU ªRKQH .ULHFKHUHL WUHX HUJHEHQ© LVW XQG ZR]XOlWPDQVLFKQLFKWGXUFKGLH=HLWYHUKlOWQLVVHEULQJHQ" VRJDUDOVHFKWHU5XVVH,QOHW]WHUHU+LQVLFKWJHVFKDKHQPLWLKP VRJDU HLQLJH DPVDQWH *HVFKLFKWHQ DEHU GHU *HQHUDO OLH QLH GHQ .RSI KlQJHQ DXFK EHL GHQ NRPLVFKVWHQ 9RUIDOOHQ QLFKW DXHUGHPKDWWHHU *OFNVRJDULP.DUWHQVSLHOXQGHUVSLHOWH DXHURUGHQWOLFKKRFKXQGYHUEDUJDEVLFKWOLFKQLFKWGLHVHNOHLQH ZHQQ PDQ ZLOO 6FKZlFKH GLH LKP LQ YLHOHQ )lOOHQ VR ZHVHQWOLFKHQ 1XW]HQ EUDFKWH VRQGHUQ NHKUWH VLH YLHOPHKU
KHUDXV 'LH JHVHOOVFKDIWOLFKHQ .UHLVH LQ GHQHQ HU YHUNHKUWH ZDUHQ YRQ VHKU YHUVFKLHGHQHU $UW VHOEVWYHUVWlQGOLFK MHGRFK VlPWOLFK ªGXUFKDXV DQVWlQGLJ© $EHU HV ODJ QRFK HLQH JURH =XNXQIW YRU LKP HU NRQQWH DEZDUWHQ NRQQWH QRFK VHKU DEZDUWHQXQGDOOHVPXWH]XUUHFKWHQ=HLWXQGLQGHUULFKWLJHQ 2UGQXQJ NRPPHQ $XFK ZDV VHLQ /HEHQVDOWHU DQODQJWH EHIDQG VLFK *HQHUDO -HSDQWVFKLQ QRFK ZLH PDQ VR ]X VDJHQ SIOHJWLQGHQEHVWHQ-DKUHQGDVKHLWHUZDUVHFKVXQGIQI]LJ -DKUHDOWQLFKWlOWHUZDVMHGHQIDOOVHLQEOKHQGHV/HEHQVDOWHU GDUVWHOOWHLQ /HEHQVDOWHU YRQ GHP HLJHQWOLFK HUVW GDV ULFKWLJH /HEHQEHJLQQW 6HLQH *HVXQGKHLW VHLQH IULVFKH *HVLFKWVIDUEH GLH NUlIWLJHQ ZHQQ DXFK VFKZDU]HQ =lKQH GHU VWlPPLJH XQWHUVHW]WH .|USHUEDX GHU HUQVWH $XVGUXFN PRUJHQV LP 'LHQVWH XQG GLH KHLWHUH 0LHQH DEHQGV EHLP .DUWHQVSLHO RGHU EHLVHLQHU(UODXFKWDOOGLHVWUXJ]XVHLQHQ JHJHQZlUWLJHQXQG NQIWLJHQ (UIROJHQ EHL XQG EHVWUHXWH GHQ /HEHQVZHJ 6HLQHU ([]HOOHQ]PLW5RVHQ 'HU *HQHUDO HUIUHXWH VLFK HLQHU EOKHQGHQ )DPLOLH $OOHUGLQJV JDE HV KLHU IU LKQ QLFKW ODXWHU 5RVHQ DEHU GDIU ZDU VR PDQFKHV GD ZRUDXI VFKRQ VHLW OlQJHUHU =HLW GLH ZLFKWLJVWHQ+RIIQXQJHQXQG%HVWUHEXQJHQ6HLQHU([]HOOHQ]LQ HUQVWHU KHU]OLFKHU (PSILQGXQJ JHULFKWHW ZDUHQ 8QG ZHOFKH %HVWUHEXQJHQ LP /HEHQ N|QQWHQ DXFK ZLFKWLJHU XQG KHLOLJHU VHLQDOVGLHHOWHUOLFKHQ":RUDQVROOMHPDQGVHLQ+HU]KlQJHQ ZHQQQLFKWDQGLH )DPLOLH" 'LH )DPLOLH GHV *HQHUDOV EHVWDQG DXVVHLQHU*DWWLQXQGGUHLHUZDFKVHQHQ7|FKWHUQ'HU*HQHUDO KDWWH LQ VHKU MXJHQGOLFKHP $OWHU JHKHLUDWHW DOV HU QRFK LP 5DQJH HLQHV /HXWQDQWV VWDQG XQG ]ZDU HLQ PLW LKP IDVW JOHLFKDOWULJHV 0lGFKHQ GDV ZHGHU 6FK|QKHLW QRFK %LOGXQJ EHVDXQGLKPQXUIQI]LJ6HHOHQPLWEUDFKWHGLHDOOHUGLQJVDOV *UXQGODJH IU GLH ZHLWHUH JQVWLJH (QWZLFNOXQJ VHLQHU 9HUP|JHQVYHUKlOWQLVVH GLHQWHQ $EHU GHU *HQHUDO PXUUWH LQ GHU)ROJH]HLWQLHEHUVHLQHIUKH+HLUDWEHWUDFKWHWHVLHQLHDOV HLQHQ XQJOFNOLFKHQ -XJHQGVWUHLFK XQG VHLQH *DWWLQ VFKlW]WH
HUVRKRFKXQGIUFKWHWHVLFKYRULKUPDQFKPDOVRVHKUGDHU VLH VRJDU OLHEWH 'LH *HQHUDOLQ VWDPPWH DXV GHU IUVWOLFKHQ )DPLOLH 0\VFKNLQ HLQHU ]ZDU QLFKW JOlQ]HQGHQ DEHU VHKU DOWHQ )DPLOLH XQG ZDU DXI LKUH +HUNXQIW VHKU VWRO] (LQH GDPDOV HLQIOXUHLFKH 3HUV|QOLFKNHLW HLQHU MHQHU *|QQHU ZHOFKH GLH *|QQHUVFKDIW QLFKWV NRVWHW KDWWH GLH )UHXQGOLFKNHLW VLFK IU GLH (KH GHU MXQJHQ 3ULQ]HVVLQ ]X LQWHUHVVLHUHQ (U |IIQHWH GHP MXQJHQ 2IIL]LHU HLQ 7UFKHQ ]XU .DUULHUHXQGJDELKPHLQHQ6WRQDFKYRUZlUWVGHUDEHUKlWWH JDU QLFKW HLQPDO HLQHV 6WRHV VRQGHUQ QXU HLQHV HLQ]LJHQ *QDGHQEOLFNHV EHGXUIW ± HU ZlUH QLFKW ]XJUXQGH JHJDQJHQ 9RQZHQLJHQ$XVQDKPHQDEJHVHKHQYHUOHEWHQGLH*DWWHQGLH JDQ]H =HLW LKUHU ODQJHQ (KH LQ YROOHU (LQPWLJNHLW 6FKRQ LQ VHKUMXQJHQ-DKUHQKDWWHHVGLH*HQHUDOLQ YHUVWDQGHQ DOV HLQH JHERUHQH 3ULQ]HVVLQ XQG DOV GLH /HW]WH LKUHV *HVFKOHFKWV YLHOOHLFKW DXFK GXUFK LKUH SHUV|QOLFKHQ (LJHQVFKDIWHQ HLQLJH VHKU KRFKJHVWHOOWH *|QQHULQQHQ ]X ILQGHQ ,Q GHU )ROJH]HLW EHJDQQ VLH EHL GHP 5HLFKWXP XQG GHP EHGHXWHQGHQ 'LHQVWUDQJ LKUHV *DWWHQ VLFK LQ GLHVHP KRKHQ .UHLV VRJDU HLQLJHUPDHQHLQ]XOHEHQ ,Q GLHVHQ OHW]WHQ -DKUHQ ZDUHQ GLH *HQHUDOVW|FKWHU DOOH GUHL KHUDQJHZDFKVHQ XQG KHUDQJHUHLIW $OH[DQGUD $GHODLGD XQG $JODMD $OOHUGLQJV WUXJHQ VLH DOOH GUHL QXU GHQ 1DPHQ -HSDQWVFKLQ DEHU PWWHUOLFKHUVHLWV ZDUHQ VLH GRFK YRQ IUVWOLFKHU $ENXQIW VLH KDWWHQ HLQH EHGHXWHQGH 0LWJLIW XQG HLQHQ9DWHUGHUYLHOOHLFKW$XVVLFKWKDWWHVSlWHUQRFKHLQHVHKU KRKH 6WHOOH ]X HUKDOWHQ XQG ZDV HEHQIDOOV VHKU ZLFKWLJ ZDU VLH ZDUHQ DOOH GUHL UHFKW KEVFK DXFK GLH lOWHVWH $OH[DQGUD QLFKWDXVJHQRPPHQGLHEHUHLWVIQIXQG]ZDQ]LJ-DKUHDOWZDU 'LHPLWWOHUHZDUGUHLXQG]ZDQ]LJXQGGLHMQJVWH$JODMDHEHQ HUVW]ZDQ]LJJHZRUGHQ'LHVHMQJVWHZDUVRJDUHLQHZLUNOLFKH 6FK|QKHLW XQG EHJDQQ VFKRQ LQ GHU *HVHOOVFKDIW JURHV $XIVHKHQ]XHUUHJHQ$EHUDXFKGDVZDUQRFKQLFKWDOOHVDOOH GUHL]HLFKQHWHQVLFKGXUFK%LOGXQJ9HUVWDQGXQG7DOHQWHDXV
(V ZDU EHNDQQW GD VLH HLQDQGHU LQQLJ OLHEWHQ XQG VLFK JHJHQVHLWLJ LQ MHGHU +LQVLFKW EHKLOIOLFK ZDUHQ 0DQ VSUDFK VRJDU YRQ JHZLVVHQ 2SIHUQ GLH GLH EHLGHQ lOWHUHQ ]XJXQVWHQ GHUMQJVWHQGLHGHU$EJRWWGHVJDQ]HQ+DXVHVZDUJHEUDFKW KDEHQ VROOWHQ ,Q *HVHOOVFKDIW QHLJWHQ VLH QLFKW GD]X VLFK YRU]XGUlQJHQVRQGHUQZDUHQVRJDUDOO]XEHVFKHLGHQ1LHPDQG NRQQWH LKQHQ GHQ 9RUZXUI GHU +RIIDUW RGHU GHV 'QNHOV PDFKHQDEHUGRFKZXWHPDQGDVLHLKUHQ6WRO]KDWWHQXQG LKUHQ HLJHQHQ :HUW NDQQWHQ 'LH lOWHVWH ZDU PXVLNDOLVFK GLH PLWWOHUH HLQH EHJDEWH 0DOHULQ DEHU GDYRQ ZXWH YLHOH -DKUH ODQJIDVWQLHPDQGXQGHVZDU HUVWLQGHUOHW]WHQ =HLWXQG QXU ]XIlOOLJDQGLHgIIHQWOLFKNHLWJHNRPPHQ.XU]HVZXUGHEHU VLHDXHURUGHQWOLFKYLHO/REHQGHV JHVSURFKHQ ,QGHVVHQIHKOWH HVDXFKQLFKWDQ hEHOZROOHQGHQ 0LW 6FKUHFNHQ UHGHWHQ GLHVH GDYRQZLHYLHOH%FKHUGLHMXQJHQ'DPHQJHOHVHQKlWWHQ0LW GHP+HLUDWHQKDWWHQVLHHVQLFKWHLOLJVLHOHJWHQ]ZDU:HUWDXI GHQ9HUNHKULQHLQHPJHZLVVHQ*HVHOOVFKDIWVNUHLVHDEHUDOOHV QXU PLW 0DHQ 'DV ZDU XP VR EHPHUNHQVZHUWHU DOV MHGHUPDQQ GLH 5LFKWXQJ GHQ &KDUDNWHU GLH =LHOH XQG GLH :QVFKHLKUHV9DWHUVNDQQWH (V ZDU VFKRQ JHJHQ HOI 8KU DOV GHU )UVW DQ GHU :RKQXQJ GHV *HQHUDOV NOLQJHOWH 'HU *HQHUDO ZRKQWH LP ]ZHLWHQ 6WRFNZHUN XQG KDWWH HLQH ]LHPOLFK EHVFKHLGHQH ZLHZRKO VHLQHP 5DQJH HQWVSUHFKHQGH :RKQXQJ 'HP )UVWHQ ZXUGH YRQ HLQHP 'LHQHU LQ /LYUHH JH|IIQHW XQG HV EHGXUIWH ODQJHU $XVHLQDQGHUVHW]XQJHQPLWGLHVHP0HQVFKHQGHULKQXQGVHLQ %QGHOFKHQ JOHLFK YRQ $QIDQJ DQ PLWUDXLVFK EHWUDFKWHWH (QGOLFK QDFKGHP HU LKP ZLHGHUKROW DXI GDV EHVWLPPWHVWH HUNOlUWKDWWHGDHUZLUNOLFK)UVW0\VFKNLQVHLXQGXQEHGLQJW GHQ *HQHUDO LQ HLQHU QRWZHQGLJHQ $QJHOHJHQKHLW VSUHFKHQ PVVH IKUWH LKQ GHU HUVWDXQWH 'LHQHU LQ HLQ NOHLQHV 9RU]LPPHU YRU GHP HLJHQWOLFKHQ EHLP $UEHLWV]LPPHU JHOHJHQHQ (PSIDQJV]LPPHU XQG EHUJDE LKQ GRUW HLQHP DQGHUQ 'LHQHU GHU YRUPLWWDJV LQ GLHVHP 9RU]LPPHU GHQ
'LHQVW YHUVDK XQG GHP *HQHUDO GLH %HVXFKHU DQ]XPHOGHQ KDWWH'LHVHU]ZHLWH'LHQHUWUXJHLQHQ)UDFNZDUEHUYLHU]LJ -DKUHDOWXQGKDWWHHLQHHUQVWHZLFKWLJH0LHQHHUVWDQG6HLQHU ([]HOOHQ] ]XU VSH]LHOOHQ 9HUIJXQJ ZHQQ GHUVHOEH VLFK LP $UEHLWV]LPPHU EHIDQG XQG ZDU VLFK LQIROJHGHVVHQ VHLQHV :HUWHVEHZXWª:DUWHQ6LHLP(PSIDQJV]LPPHUXQGODVVHQ 6LH,KU%QGHOFKHQKLHU©VDJWHHULQGHPHUVLFKODQJVDPXQG ZUGHYROO LQ VHLQHQ /HKQVWXKO VHW]WH XQG PLW HLQHP VWUHQJHQ HUVWDXQWHQ %OLFN GHQ )UVWHQ DQVDK GHU VLFK HEHQGRUW PLW VHLQHP %QGHOFKHQ LQ GHU +DQG QHEHQ LKP DXI HLQHQ 6WXKO QLHGHUOLHª:HQQ6LHHUODXEHQ©VDJWHGHU)UVWªP|FKWHLFK OLHEHUKLHUEHL,KQHQZDUWHQZDVVROOLFKGRUWVRJDQ]DOOHLQ"© ª,P9RU]LPPHUN|QQHQ6LHQLFKWEOHLEHQGD6LHHLQ%HVXFKHU GDVKHLWHLQ*DVWVLQG:ROOHQ6LH]XP*HQHUDOVHOEVW"© 'HU 'LHQHU NRQQWH VLFK RIIHQEDU QLFKW PLW GHP *HGDQNHQ EHIUHXQGHQGDHUHLQHQVROFKHQ%HVXFKHUYRUODVVHQVROOHXQG KLHOWHVGDKHUIUJXWLKQQRFKHLQPDO]XIUDJHQª-DLFKKDEH HLQ $QOLHJHQ © EHJDQQ GHU )UVW ª,FK IUDJH 6LH QLFKW YRQ ZHOFKHU $UW ,KU $QOLHJHQ LVW PHLQH 6DFKH LVW QXU 6LH ]X PHOGHQ $EHU RKQH GHQ 6HNUHWlU NDQQ LFK QLFKW KLQJHKHQ XQG 6LH PHOGHQ© 'DV 0LWUDXHQ GLHVHV 0DQQHV VFKLHQ LPPHU PHKU ]X :DFKVHQ GHU )UVW ZDU GRFK DXFK GHP 7\S GHU WlJOLFKHQ %HVXFKHU JDU ]X XQlKQOLFK =ZDU NDP HV ]LHPOLFK RIW IDVW WlJOLFK ]X EHVWLPPWHU 6WXQGH YRU GD GHU *HQHUDO QDPHQWOLFK LQ *HVFKlIWVDQJHOHJHQKHLWHQ *lVWH HPSILQJ GLH PDQFKPDO VHKU YHUVFKLHGHQDUWLJ DXVVDKHQ DEHU WURW] GLHVHU *HZRKQKHLW XQG GHU UHFKW ZHLWKHU]LJHQ ,QVWUXNWLRQ ZDU GHU .DPPHUGLHQHU LQ JURHP =ZHLIHO GLH 9HUPLWWOXQJ GHV 6HNUHWlUV VFKLHQ LKP IU GLH $QPHOGXQJ GRFK XQXPJlQJOLFK QRWZHQGLJ ª6LQG 6LH ZLUNOLFK DXV GHP $XVODQG JHNRPPHQ"© IUDJWH HU VFKOLHOLFK IDVW XQZLOONUOLFK XQG ZXUGH GDEHL YHUOHJHQ (U ZROOWH YLHOOHLFKW IUDJHQ ¾6LQG 6LH ZLUNOLFK )UVW 0\VFKNLQ"½ ª-D LFK NRPPH GLUHNW YRQ GHU %DKQ 0LU VFKHLQW 6LH ZROOWHQ IUDJHQ RE LFK ZLUNOLFK )UVW
0\VFKNLQELQWDWHQGLHVDEHUDXV+|IOLFKNHLWQLFKW©ª+P© EUXPPWH GHU 'LHQHU HUVWDXQW ª,FK YHUVLFKHUH ,KQHQ GD LFK 6LH QLFKW EHORJHQ KDEH XQG GD 6LH PLW PHLQHU $QPHOGXQJ QLFKWV 8QYHUDQWZRUWOLFKHV EHJHKHQ 'D LFK DEHU LQ VROFKHP $Q]XJXQGPLWHLQHP%QGHOFKHQKHUNRPPHGDEHLLVWQLFKWV ]X YHUZXQGHUQ PHLQH 9HUP|JHQVYHUKlOWQLVVH VLQG DXJHQEOLFNOLFK QLFKW JOlQ]HQG© ª+P ,FK KDEH LQ GLHVHU +LQVLFKWNHLQH%HIUFKWXQJHQVHKHQ6LH ,FKELQYHUSIOLFKWHW 6LH ]X PHOGHQ XQG GDQQ ZLUG GHU 6HNUHWlU ]X ,KQHQ KHUNRPPHQ DXHU ZHQQ 6LH $EHU GDV LVW HV HEHQ DXHU ZHQQ :HQQ HV JHVWDWWHW LVW P|FKWH LFK PLU HUODXEHQ ]X IUDJHQ6LHEHDEVLFKWLJHQQLFKWDXV%HGUIWLJNHLWGHQ*HQHUDO XPHLQH8QWHUVWW]XQJ]XELWWHQ"© ª2QHLQVHLHQ6LHGDUEHU JDQ] EHUXKLJW ,FK KDEH HLQ DQGHUHV $QOLHJHQ© ª1HKPHQ 6LH HVPLUQLFKWEHODEHULFKIUDJWHLP+LQEOLFNDXI,KUbXHUHV :DUWHQ 6LH DXI GHQ 6HNUHWlU GHU *HQHUDO VHOEVW LVW MHW]W PLW HLQHP 2EHUVW EHVFKlIWLJW XQG GDQQ ZLUG DXFK GHU 6HNUHWlU NRPPHQ HV LVW GHU 6HNUHWlU YRQ HLQHU $NWLHQJHVHOOVFKDIW© ª:HQQLFKDOVRODQJHZHUGHZDUWHQPVVHQVRP|FKWHLFK6LH IUDJHQ NDQQ PDQ KLHU QLFKW LUJHQGZR UDXFKHQ" (LQH 3IHLIH XQG7DEDNKDEHLFKEHLPLU© ª5DXFKHQ"©YHUVHW]WHGHU.DPPHUGLHQHULKQJHULQJVFKlW]LJ XQG HUVWDXQW DQVWDUUHQG DOV RE HU VHLQHQ 2KUHQ QLFKW WUDXWH ª5DXFKHQ" 1HLQ KLHU N|QQHQ 6LH QLFKW UDXFKHQ XQG 6LH VROOWHQ VLFK VFKlPHQ DXFK QXU GDUDQ ]X GHQNHQ +DKD 6RQGHUEDU© ª2K LFK PHLQWH MD QLFKW LQ GLHVHP =LPPHU GD GDV QLFKW JHKW ZHL LFK MD VRQGHUQ LFK ZUGH LUJHQGZRKLQ JHKHQ ZRKLQ 6LH PLFK ZHLVHQ ZUGHQ GHQQ LFK ELQ GDUDQ JHZ|KQW XQG KDEH MHW]W VFKRQ GUHL 6WXQGHQ ODQJ QLFKW JHUDXFKW hEULJHQV ZLH 6LH HV IU JXW KDOWHQ ZLVVHQ 6LH HV JLEW HLQ 6SULFKZRUW .RPPVW GX LQ HLQ IUHPGHV .ORVWHU VR VXFKH GD QLFKW GHLQH HLJHQH 2UGQXQJ HLQ]XIKUHQ© ª1D ZLH VROO LFK 6LH PHOGHQ VR HLQHQ HLJHQWPOLFKHQ %HVXFKHU"© PXUPHOWH GHU .DPPHUGLHQHU EHLQDK XQZLOONUOLFK ª(UVWHQV
JHK|UWHVVLFKQLFKWGD6LHVLFKKLHUDXIKDOWHQ6LHVROOWHQLP (PSIDQJV]LPPHUVLW]HQZHLO6LHVHOEVWVLFKDOV%HVXFKHUGDV KHLW DOV *DVW EH]HLFKQHQ GD ZLUG 5HFKHQVFKDIW YRQ PLU JHIRUGHUW ZHUGHQ :LH LVW HV" %HDEVLFKWLJHQ 6LH HWZD EHL XQV ]X ZRKQHQ"© IJWH HU KLQ]X QRFK HLQPDO QDFK GHP %QGHOGHV)UVWHQKLQVFKLHOHQGGDVLKPRIIHQEDUNHLQH5XKH OLH ª1HLQ GDV EHDEVLFKWLJH LFK QLFKW 6HOEVW ZHQQ LFK GD]X DXIJHIRUGHUWZUGHZUGH LFK QLFKW KLHUEOHLEHQ ,FK ELQ JDQ] HLQIDFK QXU KHUJHNRPPHQ XP PLFK PLW GHQ +HUUVFKDIWHQ EHNDQQW ]X PDFKHQ ZHLWHU QLFKWV© ª:LH" 8P GLH %HNDQQWVFKDIW]XPDFKHQ"©IUDJWHGHU.DPPHUGLHQHUHUVWDXQW XQG PLW YHUGUHLIDFKWHP 0LWUDXHQ ª:LH NRQQWHQ 6LH GDQQ DEHU ]XHUVW VDJHQ 6LH NlPHQ PLW HLQHP $QOLHJHQ"© ª2K LFK NDQQ NDXP VDJHQ PLW HLQHP $QOLHJHQ 'DV KHLW ZHQQ 6LH ZROOHQKDEHLFKDXFKHLQ$QOLHJHQGDVDEHUQXUGDULQEHVWHKW GD LFK XP HLQHQ 5DW ELWWHQ P|FKWH ,Q GHU +DXSWVDFKH DEHU ELQ LFK JHNRPPHQ XP PLFK YRU]XVWHOOHQ GD LFK )UVW 0\VFKNLQ ELQ XQG GLH *HQHUDOLQ -HSDQWVFKLQD JOHLFKIDOOV GLH OHW]WH)UVWHQWRFKWHUDXVGHU)DPLOLH0\VFKNLQLVWXQGHVDXHU PLU XQG LKU NHLQH 0\VFKNLQV PHKU JLEW© ª$OVR VLQG 6LH JDU QRFK HLQ 9HUZDQGWHU"© ULHI GHU HUVFKURFNHQH 'LHQHU GHQ RUGHQWOLFK HLQ 6FKDXGHU EHUOLHI ª$XFK GDV LVW NDXP ULFKWLJ hEULJHQV ZHQQ PDQ HV JHQDX QLPPW JHZL ZLU VLQG 9HUZDQGWHDEHUVRHQWIHUQWHGDZLUXQVHLJHQWOLFKNDXPDOV VROFKHEHWUDFKWHQN|QQHQ,FKKDEHPLFKHLQPDOYRP$XVODQG DXVEULHIOLFKDQGLH*HQHUDOLQ JHZDQGW DEHU VLH KDW PLU QLFKW JHDQWZRUWHW,FKKDEHHVDEHUGRFKIUQRWZHQGLJJHKDOWHQEHL PHLQHU 5FNNHKU KLHU %H]LHKXQJHQ DQ]XNQSIHQ ,KQHQ DEHU VHW]H LFK GDV DOOHV MHW]W DXVHLQDQGHU XP ,KUH =ZHLIHO ]X ]HUVWUHXHQ GHQQ LFK VHKH 6LH EHXQUXKLJHQ VLFK LPPHU QRFK 0HOGHQ 6LH QXU GD )UVW 0\VFKNLQ GD LVW XQG GHU $QOD PHLQHV%HVXFKHVZLUGVFKRQDXVGHU0HOGXQJHUVLFKWOLFKVHLQ (PSIDQJHQ VLH PLFK ± JXW HPSIDQJHQ VLH PLFK QLFKW ± DXFK JXWYLHOOHLFKWVRJDUVHKUJXW$EHULFKJODXEHVLHZHUGHQQLFKW
DQGHUVN|QQHQDOVPLFKHPSIDQJHQGLH*HQHUDOLQZLUGJHZL ZQVFKHQ GHQ HLQ]LJHQ QRFK OHEHQGHQ 5HSUlVHQWDQWHQ LKUHV *HVFKOHFKWV ]X VHKHQ GHQQ ZLH LFK PLW %HVWLPPWKHLW JHK|UW KDEHOHJWVLHDXILKUH+HUNXQIWJURHQ:HUW© (V KlWWH VFKHLQHQ N|QQHQ GD GLHVH 0LWWHLOXQJHQ GHV )UVWHQ K|FKVW HLQIDFK XQG QDWUOLFK ZDUHQ DEHU MH HLQIDFKHU XQGQDWUOLFKHUVLHDQVLFKZDUHQXPVRDEVRQGHUOLFKHUNDPHQ VLH LP JHJHQZlUWLJHQ $XJHQEOLFN KHUDXV XQG GHU HUIDKUHQH .DPPHUGLHQHU NRQQWH QLFKW XPKLQ LQ LKQHQ HWZDV ]X ILQGHQ ZDVYRQHLQHP0HQVFKHQ]XHLQHPDQGHUQ0HQVFKHQJHVDJW GXUFKDXV DQJHPHVVHQ DEHU YRQ HLQHP *DVW ]X HLQHP 'LHQHU JHVDJW Y|OOLJ XQDQJHPHVVHQ ZDU $EHU GD GLH 'LHQHU ZHLW YHUVWlQGLJHUVLQGDOVGLH+HUUVFKDIWHQJHZ|KQOLFKJODXEHQVR JLQJ HV DXFK GHP .DPPHUGLHQHU GXUFK GHQ .RSI GD KLHU ]ZHL)lOOHP|JOLFKVHLHQHQWZHGHUZDUGHU)UVWHLQ+HUXP± WUHLEHU XQG MHGHQIDOOV JHNRPPHQ XP EHL GHU +HUUVFKDIW XP HLQ$OPRVHQ]XELWWHQRGHUHUZDUHLQIDFKHLQ1DUUXQGRKQH (KUJHIKO GD HLQ YHUQQIWLJHU )UVW GHU (KUJHIKO EHVLW]W QLFKW LP 9RU]LPPHU VLW]HQ XQG PLW HLQHP 'LHQHU EHU VHLQH $QJHOHJHQKHLWHQUHGHQZUGH+DWWHHUVLFKDOVRQLFKWLQGHP HLQHQ ZLH LQ GHP DQGHUQ )DOO IU GLH $QPHOGXQJ ]X YHUDQWZRUWHQ" ª$EHU 6LH VROOWHQ VLFK GRFK LQ GDV (PSIDQJV]LPPHUEHJHEHQ©EHPHUNWHHUP|JOLFKVWHQHUJLVFK ª:HQQLFKGDJHVHVVHQKlWWHKlWWHLFK,KQHQGDVDOOHVMDQLFKW DXVHLQDQGHUVHW]HQ N|QQHQ© YHUVHW]WH GHU )UVW LQ KHLWHUHP 7RQH ªXQG VRPLW ZUGHQ 6LH VLFK LPPHU QRFK EHLP $QEOLFN PHLQHV 0DQWHOV XQG PHLQHV %QGHOFKHQV EHXQUXKLJHQ $EHU MHW]W KDOWHQ 6LH HV YLHOOHLFKW QLFKW HLQPDO PHKU IU Q|WLJ DXI GHQ6HNUHWlU ]X ZDUWHQ VRQGHUQ JHKHQ HLQIDFK VHOEVW KLQ XQG PHOGHQPLFKDQ© ª,FKGDUI HLQHQ %HVXFKHUZLH6LHRKQHGHQ 6HNUHWlUQLFKWDQPHOGHQXQGDXHUGHPKDWGHU*HQHUDOVHOEVW QRFKYRUKLQDXVGUFNOLFKYHUERWHQGD HU YRQ LUJHQG MHPDQG JHVW|UW ZLUG VRODQJH GHU 2EHUVW GD LVW QXU *DZULOD $UGDOLRQ\WVFK JHKW RKQH $QPHOGXQJ KLQHLQ© ª,VW GDV HLQ
%HDPWHU"© ª*DZULOD $UGDOLRQ\WVFK" 1HLQ (U LVW EHL HLQHU $NWLHQJHVHOOVFKDIW DQJHVWHOOW /HJHQ 6LH GRFK ZHQLJVWHQV ,KU %QGHOFKHQKLQ©ª,FKKDEHVHOEVWVFKRQGDUDQJHGDFKW:HQQ 6LH DOVR HUODXEHQ WXH LFK HV 6DJHQ 6LH VROO LFK DXFK GHQ 0DQWHO DEOHJHQ"© ª*HZL 6LH N|QQHQ GRFK QLFKW LP 0DQWHO ]XLKPKLQHLQJHKHQ© 'HU)UVWHUKREVLFK]RJVLFKHLOLJGHQ0DQWHODXVXQGVWDQG QXQLQHLQHP]LHPOLFKDQVWlQGLJHQ JXW JHDUEHLWHWHQZLHZRKO VFKRQ DEJHWUDJHQHQ -DFNHWW GD hEHU GLH :HVWH ]RJ VLFK HLQH VWlKOHUQH8KUNHWWHKLQ$QGHU.HWWHZDUHLQHVLOEHUQH*HQIHU 8KUVLFKWEDU 2EJOHLFKGHU )UVW HLQ 1DUU ZDU ]X GLHVHU $QVLFKW ZDU GHU 'LHQHU EHUHLWV JHODQJW VFKLHQ HV GHP .DPPHUGLHQHU GHV *HQHUDOV VFKOLHOLFK GRFK XQSDVVHQG GLHVHV 3ULYDWJHVSUlFK PLW GHP %HVXFKHU OlQJHU IRUW]XVHW]HQ REZRKO GHU )UVW LKP DXVLUJHQGHLQHP*UXQGHJHILHOQDWUOLFKQXUVRLQVHLQHU$UW $EHU YRQ HLQHP DQGHUHQ *HVLFKWVSXQNWH DXV HUZHFNWH HU EHL LKP HLQ HQWVFKLHGHQHV VWDUNHV 0LIDOOHQ ª8QG ZDQQ HPSIlQJW GLH *HQHUDOLQ"© IUDJWH GHU )UVW LQGHP HU VLFK ZLHGHU DXI VHLQHQ IUKHUHQ 3ODW] VHW]WH ª'DV JHK|UW QLFKW ]X PHLQHP'LHQVW6LHHPSIlQJW]XYHUVFKLHGHQHQ=HLWHQMHQDFK GHU 3HUV|QOLFKNHLW 'LH 6FKQHLGHULQ ZLUG VFKRQ XP HOI 8KU YRUJHODVVHQ *DZULOD $UGDOLRQ\WVFK ZLUG HEHQIDOOV IUKHU HPSIDQJHQDOVDQGHUHVRJDU]XPHUVWHQ)UKVWFN©ª+LHUEHL ,KQHQ LVW HV LQ GHQ =LPPHUQ LP :LQWHU ZlUPHU DOV LP $XVODQG© EHPHUNWH GHU )UVW ªDEHU GDIU LVW HV GRUW DXI GHQ 6WUDHQ ZlUPHU DOV EHL XQV 6R LVW HV HLQHP 5XVVHQ NDXP P|JOLFKLP:LQWHUGRUWLQGHQ+lXVHUQ]XZRKQHQZHLOHUGD QLFKW VHLQH JHZRKQWH :lUPH KDW© ª:LUG GD QLFKW JHKHL]W"© ª2 GRFK DEHU GLH +lXVHU VLQG DQGHUV JHEDXW GDV KHLW GLH gIHQXQGGLH)HQVWHU©ª+P6LQG6LHGHQQODQJHLP$XVODQG JHUHLVW"©ª9LHU-DKUHhEULJHQVKDEHLFKIDVWLPPHUDQHLQHP 2UWHVWLOOJHVHVVHQDXIGHP/DQGH© ª'DVLQG6LHZRKOXQVHUH 9HUKlOWQLVVH QLFKW PHKU JHZ|KQW"© ª'DV LVW ULFKWLJ .|QQHQ
6LHHVJODXEHQLFKZXQGHUHPLFKEHUPLFKVHOEVWGDLFKGDV 5XVVLVFKVSUHFKHQ QLFKW YHUOHUQW KDEH :lKUHQG LFK MHW]W PLW ,KQHQVSUHFKHGHQNHLFK¾$EHULFKVSUHFKHMDQRFKJDQ]JXW½ 'DVLVWYLHOOHLFKWDXFKGHU*UXQGZHVKDOELFKVRYLHOVSUHFKH :LUNOLFK VHLW JHVWHUQ KDEH LFK IRUWZlKUHQG /XVW UXVVLVFK ]X VSUHFKHQ© ª+P +DKD +DEHQ 6LH IUKHU LQ 3HWHUVEXUJ JHZRKQW"© 7URW] VHLQHU 9RUVlW]H EUDFKWH GHU 'LHQHU HV GRFK QLFKWIHUWLJHLQVRK|IOLFKXQGEHVFKHLGHQJHIKUWHV*HVSUlFK VHLQHUVHLWV DE]XEUHFKHQ ª,Q 3HWHUVEXUJ" )DVW JDU QLFKW QXU EHL 'XUFKUHLVHQ $XFK KDEH LFK IUKHU KLHU HLJHQWOLFK QLFKWV JHNDQQW XQG MHW]W JLEW HV KLHU K|UH LFK VR YLHO 1HXHV GD ZLHPDQVDJWDXFKZHUYRUKHUDOOHVJHNDQQWKDWMHW]WDOOHVYRQ QHXHP OHUQHQ PX (V ZLUG KLHU MHW]W YLHO YRQ GHQ *HULFKWHQ JHUHGHW© ª+P 'LH *HULFKWH 'LH *HULFKWH MD MD GLH *HULFKWH $EHU ZLH LVW HV GRUW" *HKW HV GD EHLP *HULFKW JHUHFKWHU]XRGHUQLFKW"©ª,FKZHLHVQLFKW,FKKDEHEHUGLH XQVULJHQ YLHO *XWHV JHK|UW 'D LVW MD QXQ EHL XQV GLH 7RGHVVWUDIH ZLHGHU DEJHVFKDIIW© ª$EHU GRUW ILQGHQ +LQULFKWXQJHQ VWDWW"© ª-D ,FK KDEH LQ )UDQNUHLFK EHL HLQHU ]XJHVHKHQ LQ /\RQ 6FKQHLGHU KDWWH PLFK PLWJHQRPPHQ© ª+lQJHQ6LHGLH0HQVFKHQDXI"©ª1HLQLQ)UDQNUHLFKZHUGHQ LPPHU GLH .|SIH DEJHVFKODJHQ© ª6FKUHLW GHQQ GHU %HWUHIIHQGH GDEHL"© ª%HZDKUH (V JHKW LQ HLQHP $XJHQEOLFN YRU VLFK 6LH OHJHQ GHQ 0HQVFKHQ KLQ XQG GDQQ IlOOW PLWWHOV HLQHU0DVFKLQH*XLOORWLQHKHLWVLH VRHLQEUHLWHV0HVVHUPLW HLQHP VFKZHUHQ NUlIWLJHQ 6FKODJ KHUXQWHU 'HU .RSI IOLHJW DE HKH PDQ QXU PLW GHQ $XJHQ EOLQNHQ NDQQ 'LH 9RUEHUHLWXQJHQ VLQG DOOHUGLQJV SHLQOLFK :HQQ GDV 8UWHLO YHUNQGHWLVWPDFKHQVLHGHQ+LQ]XULFKWHQGHQ]XUHFKWELQGHQ LKQ XQG IKUHQ LKQ DXI GDV 6FKDIRWW GDV LVW VFKUHFNOLFK 'DV 9RON OlXIW ]XVDPPHQ VRJDU GLH :HLEHU REZRKO PDQ HV GRUW 'LH7RGHVVWUDIHZDULQ5XODQGQXUIRUPDODEJHVFKDIIW,QGHQVHFK]LJHU -DKUHQ GHU =HLW GHU 5RPDQKDQGOXQJ IDQGHQ YHUVFKLHGHQH +LQULFKWXQJHQ VWDWW'RVWRMHZVNLKDWKLHUZRKODXIGLH=HQVXU5FNVLFKWJHQRPPHQ
QLFKWJHUQKDWGD :HLEHU GDEHL ]XVHKHQ© ª'LH KDEHQ GDEHL DXFK QLFKWV ]X VXFKHQ© ª*HZL JHZL 6ROFKH 4XDOHQ PLW DQ]XVHKHQ 'HU 9HUXUWHLOWH ZDU HLQ JHELOGHWHU XQHUVFKURFNHQHUNUlIWLJHU0DQQVFKRQEHL-DKUHQ/HJURVZDU VHLQ 1DPH 1XQ VHKHQ 6LH LFK VDJH ,KQHQ RE 6LH HV QXQ JODXEHQ RGHU QLFKW DOV HU DXI GDV 6FKDIRWW KHUDXINDP GD ZHLQWH HU XQG VDK ZHL DXV ZLH HLQ %ODWW 3DSLHU ,VW GDV P|JOLFK",VWGDVQLFKWHQWVHW]OLFK":HUZHLQWGHQQYRU$QJVW" ,FK KlWWH QLFKW JHGDFKW GD MHPDQG GHU NHLQ .LQG LVW YRU $QJVWZHLQHQN|QQWHHLQ0DQQGHUQLHJHZHLQWKDWHLQ0DQQ YRQ IQIXQGYLHU]LJ -DKUHQ :DV PDJ PLW GHU 6HHOH LQ GLHVHP $XJHQEOLFNYRUJHKHQ",QZDVIUNUDPSIKDIWH=XFNXQJHQZLUG VLHYHUVHW]W"(VLVWHLQH3HLQLJXQJGHU6HHOHZHLWHUQLFKWV(V JLEWHLQ*HERW¾'XVROOVWQLFKWW|WHQ½XQGGDW|WHWPDQQXQ ZHLOMHPDQGJHW|WHWKDWDXFKLKQ"1HLQGDVGDUIQLFKWVHLQ(V LVWMHW]WVFKRQHLQHQ0RQDWKHUGDLFKGDVJHVHKHQKDEHDEHU HV LVW PLU ELV KHXWH DOV RE LFK HV YRU $XJHQ KlWWH ,FK KDEH IQIPDOGDYRQJHWUlXPW© 'HU )UVW ZDU EHLP 6SUHFKHQ DXIJHOHEW HLQH OHLFKWH 5|WH ZDUDXIVHLQEODVVHV*HVLFKWJHWUHWHQREJOHLFKHUlXHUOLFKVR VWLOOXQGUXKLJUHGHWHZLHYRUKHU'HU.DPPHUGLHQHUK|UWHLKP PLWWHLOQDKPVYROOHP,QWHUHVVH]XXQGZQVFKWHZLHHVVFKLHQ QLFKW PHKU VLFK YRQ GHP *HVSUlFK ORV]XPDFKHQ YLHOOHLFKW ZDUHUHLQ0HQVFKPLW(LQELOGXQJVNUDIWXQGHLQHP+DQJH]XP 1DFKGHQNHQ ª(V LVW ZHQLJVWHQV QRFK JXW GD QLFKW YLHO 4XlOHUHLGDEHLLVWZHQQGHU.RSIDEIOLHJW©EHPHUNWHHU ª:LVVHQ 6LH ZDV"© HUZLGHUWH GHU )UVW OHEKDIW ª'D VDJHQ 6LH GDV QXQ XQG DOOH /HXWH VDJHQ HV HEHQVR ZLH 6LH XQG GLH 0DVFKLQH GLH *XLOORWLQH LVW MD DXFK ]X GLHVHP =ZHFN HUIXQGHQ $EHU PLU JLQJ JOHLFK GDPDOV HLQ JHZLVVHU *HGDQNH GXUFK GHQ .RSI ZLH ZHQQ GDV VRJDU QRFK VFKOLPPHU ZlUH" 'DV VFKHLQW ,KQHQ OlFKHUOLFK XQG VHOWVDP DEHU ZHQQ PDQ HWZDV (LQELOGXQJVNUDIW EHVLW]W VR NDQQ HLQHP ZRKO DXFK HLQ VROFKHU *HGDQNH LQ GHQ .RSI NRPPHQ hEHUOHJHQ 6LH QXU
QHKPHQZLU]XP%HLVSLHOGLH)ROWHUGDEHL JLEWHV6FKPHU]HQ XQG 9HUZXQGXQJHQ GDV KHLW N|USHUOLFKH 4XDOHQ XQG GDKHU OHQNWGLHVDOOHVGHQ*HIROWHUWHQYRQGHPVHHOLVFKHQ/HLGHQDE VRGDHU QXU YRQ GHQ :XQGHQ 4XDOHQ HPSILQGHW ELV ]X GHP $XJHQEOLFN ZR HU VWLUEW $EHU GHU lUJVWH VWlUNVWH 6FKPHU] ZLUG YLHOOHLFKW QLFKW GXUFK 9HUZXQGXQJHQ KHUYRUJHUXIHQ VRQGHUQ GDGXUFK GD PDQ PLW 6LFKHUKHLW ZHL QDFK HLQHU 6WXQGH GDQQ QDFK ]HKQ 0LQXWHQ GDQQ QDFK HLQHU KDOEHQ 0LQXWH GDQQ MHW]W LQ GLHVHP $XJHQEOLFN ZLUG GLH 6HHOH DXV GHP .|USHU KLQDXVIOLHJHQ XQG PDQ ZLUG DXIK|UHQ HLQ 0HQVFK]XVHLQXQGGDGDVVLFKHULVWGLH+DXSWVDFKHLVWGD GDVVLFKHULVW:HQQPDQVRGHQ.RSIJHUDGHXQWHUGDV0HVVHU OHJW XQG K|UW ZLH HV EHU GHP .RSI KHUDEJOHLWHW GDQQ PX GLHVH 9LHUWHOVHNXQGH GDV $OOHUVFKUHFNOLFKVWH VHLQ :LVVHQ 6LH ZRKOGDGDVQLFKWHLQ3KDQWDVLHYRQPLULVWVRQGHUQGDGDV VFKRQYLHOHJHVDJWKDEHQ",FKJODXEHGDVVREHVWLPPWGDLFK ,KQHQJHJHQEHUGLHVHPHLQH$QVLFKWRIIHQDXVVSUHFKH:HQQ PDQ MHPDQGHQ GHU JHW|WHW KDW GDIU W|WHW VR LVW GLH 6WUDIH XQYHUKlOWQLVPlLJJU|HU DOVGDV9HUEUHFKHQ'LH7|WXQJ DXI *UXQG HLQHV 8UWHLOVVSUXFKHV LVW XQYHUKlOWQLVPlLJ VFKUHFNOLFKHUDOVGLHYRQHLQHP5lXEHUEHJDQJHQH'HUMHQLJH GHQ 5lXEHU W|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
QRFKLPPHUKRIIHQDEHUPDQOHVHGLHVHPVHOEHQ6ROGDWHQGDV 8UWHLOYRUGDVLKQPLW6LFKHUKHLWGHP7RGHZHLKWXQGHUZLUG GHQ 9HUVWDQG YHUOLHUHQ RGHU ]X ZHLQHQ DQIDQJHQ :HU NDQQ GHQQJODXEHQGDGLHPHQVFKOLFKH1DWXULPVWDQGHVHLGLHV]X HUWUDJHQ RKQH LQ ,UUVLQQ ]X JHUDWHQ" :R]X HLQH VROFKH JUlOLFKH XQQW]H ]ZHFNORVH 0DUWHU" 9LHOOHLFKW JLEW HV DXFK HLQHQ0HQVFKHQGHPPDQGDV7RGHVXUWHLOYRUJHOHVHQKDWGHQ PDQVLFKKDWTXlOHQODVVHQXQG]XGHPPDQGDQQJHVDJWKDW ¾*HK KLQ GX ELVW EHJQDGLJW½ (LQ VROFKHU 0HQVFK N|QQWH YLHOOHLFKW HU]lKOHQ 9RQ GLHVHU 4XDO XQG YRQ GLHVHP 6FKUHFNHQ KDW DXFK &KULVWXV JHVSURFKHQ 1HLQ VR GDUI PDQ PLWHLQHP0HQVFKHQQLFKWYHUIDKUHQ© 2EJOHLFK GHU .DPPHUGLHQHU DOO GLHV QLFKW KlWWH VR DXVGUFNHQN|QQHQZLHGHU)UVWYHUVWDQGHUGRFKZHQQDXFK QLFKW DOOHV VR GRFK GLH +DXSWVDFKH ZDV VRJDU DQ VHLQHU JHUKUWHQ 0LHQH ZDKU]XQHKPHQ ZDU ª:HQQ 6LH VR VHKU ZQVFKHQ]XUDXFKHQ©VDJWHHUªVRZUGHGDVYLHOOHLFKWDXFK JHKHQ QXU PWHQ 6LH HV VHKU EDOG WXQ 'HQQ HU N|QQWH DXI HLQPDOQDFK,KQHQIUDJHQXQGGDQQZlUHQ6LHQLFKWGD6HKHQ 6LH GRUW XQWHU GHU NOHLQHQ 7UHSSH LVW HLQH 7U *HKHQ 6LH LQ GLH 7U KLQHLQ UHFKWV LVW HLQ .lPPHUFKHQ GD N|QQHQ 6LH UDXFKHQ QXU PVVHQ 6LH GLH /XIWNODSSH DXIPDFKHQ GHQQ GDV 5DXFKHQLVWKLHUGRFKQLFKWLQGHU2UGQXQJ© $EHU GHU )UVW NDP QLFKW PHKU GD]X IRUW]XJHKHQ XQG ]X UDXFKHQ,QGDV9RU]LPPHUWUDWHLQMXQJHU0DQQPLW3DSLHUHQ LQ GHU +DQG 'HU .DPPHUGLHQHU QDKP LKP GHQ 3HO] DE 'HU MXQJH0DQQVFKLHOWHQDFKGHP)UVWHQKLQ ª'HU+HUUGDVDJW PLU *DZULOD $UGDOLRQ\WVFK© EHJDQQ GHU .DPPHUGLHQHU LQ YHUWUDXOLFKHP EHLQDK IDPLOLlUHP 7RQ ªGD HU HLQ )UVW 0\VFKNLQXQGHLQ9HUZDQGWHUGHUJQlGLJHQ)UDXVHLHULVWPLW GHP =XJH DXV GHP $XVODQG JHNRPPHQ PLW HLQHP 'DV KDWWH 'RVWRMHZVNL VHOEVW DP 'H]HPEHU HUOHEW DOV HU PLW DQGHUHQ $QKlQJHUQ GHV 5HYROXWLRQlUV 3HWUDVFKHZVNLM KLQJHULFKWHW ZHUGHQ VROOWH
%QGHOFKHQLQGHU+DQGDEHU© 'DV :HLWHUH NRQQWH GHU )UVW QLFKW YHUVWHKHQ GD GHU .DPPHUGLHQHU ]X IOVWHUQ DQILQJ *DZULOD $UGDOLRQRZLWVFK K|UWHDXIPHUNVDP]XXQGEHWUDFKWHWHGHQ )UVWHQPLW JURHP ,QWHUHVVH VFKOLHOLFK K|UWH HU QLFKW PHKU ZHLWHU ]X XQG WUDW XQJHGXOGLJDQLKQKHUDQª6LHVLQG)UVW0\VFKNLQ"©IUDJWHHU VHKU IUHXQGOLFK XQG K|IOLFK (V ZDU HLQ VHKU VFK|QHU MXQJHU 0DQQ HEHQIDOOV HWZD DFKWXQG]ZDQ]LJ -DKUH DOW VFKODQN EORQGYRQ0LWWHOJU|HPLWHLQHPNOHLQHQ1DSROHRQVElUWFKHQ XQGHLQHPYHUVWlQGLJHQVHKUKEVFKHQ*HVLFKW1XUZDUVHLQ /lFKHOQEHLDOOVHLQHU/LHEHQVZUGLJNHLWHLQZHQLJ]XVFKODX GLH =lKQH WUDWHQ GDEHL HLQ ZHQLJ ]X SHUOHQDUWLJ KHUDXV GHU %OLFN ZDU WURW] DOO VHLQHU +HLWHUNHLW XQG VFKHLQEDUHQ 2IIHQKHU]LJNHLWHWZDV]XVFKDUIXQGIRUVFKHQG 'HU)UVWKDWWHGLH(PSILQGXQJ¾:HQQHUDOOHLQLVWVLHKWHU ZDKUVFKHLQOLFKJDQ]DQGHUVDXVXQGODFKWYLHOOHLFKWQLH½ 'HU )UVW VHW]WH LKP DOOHV ZDV HU LQ GHU *HVFKZLQGLJNHLW NRQQWH DXVHLQDQGHU IDVW GDVVHOEH ZDV HU VFKRQ YRUKHU GHP .DPPHUGLHQHU XQG QRFK IUKHU VHLQHP 5HLVHJHIlKUWHQ 5RJRVKLQ DXVHLQDQGHUJHVHW]W KDWWH *DZULOD $UGDOLRQRZLWVFK VFKLHQ XQWHUGHVVHQ LQ VHLQHP *HGlFKWQLV HWZDV ]X VXFKHQ ª+DEHQ6LHQLFKW©IUDJWHHU ªYRU HLQHP -DKUH RGHU YRU QRFK NU]HUHU=HLWHLQHQ%ULHIZLHPLUVFKHLQWDXVGHU6FKZHL]DQ /LVDZHWD 3URNRIMHZQD JHVFKLFNW"© ª*DQ] ULFKWLJ© ª'DQQ NHQQWPDQ6LHKLHUXQGZLUGVLFK,KUHUVLFKHUOLFKHULQQHUQ6LH ZROOHQ]X6HLQHU([]HOOHQ]",FKZHUGH6LHVRIRUWPHOGHQ(U ZLUGJOHLFKIUHLVHLQ1XUVROOWHQ6LH6LHVROOWHQELVGDKLQLQV (PSIDQJV]LPPHUJHKHQ:DUXPLVWGHU+HUUKLHU"©ZDQGWHHU VLFKLQVWUHQJHP7RQDQGHQ.DPPHUGLHQHUª,FKVDJWHVFKRQ GHU+HUUZROOWHVHOEVWQLFKW© ,Q GLHVHP $XJHQEOLFN |IIQHWH VLFK GLH 7U GHV $UEHLWV]LPPHUVXQGHLQ2IIL]LHUPLWHLQHP3RUWHIHXLOOHXQWHU GHP$UPNDPODXWUHGHQGXQGVLFKYHUDEVFKLHGHQGKHUDXV
ª'X ELVW KLHU *DQMD"© ULHI HLQH 6WLPPH DXV GHP $UEHLWV]LPPHU ª6R NRPP GRFK KHUHLQ© *DZULOD $UGDOLRQRZLWVFKQLFNWHGHP)UVWHQ]XXQGEHJDEVLFKHLOLJLQ GDV$UEHLWV]LPPHU8QJHIlKU]ZHL0LQXWHQGDUDXI|IIQHWHVLFK GLH 7U YRQ QHXHP XQG *DZULOD $UGDOLRQRZLWVFKV ZRKONOLQJHQGH K|IOLFKH 6WLPPH ULHI ª%LWWH WUHWHQ 6LH QlKHU )UVW©
,,, 'HU*HQHUDO,ZDQ)MRGRURZLWVFK-HSDQWVFKLQVWDQGPLWWHQLQ VHLQHP$UEHLWV]LPPHUXQGEHWUDFKWHWHPLWJU|WHU1HXJLHUGHQ HLQWUHWHQGHQ)UVWHQHUJLQJLKPVRJDU]ZHL6FKULWWHHQWJHJHQ 'HU)UVWWUDW]XLKPKHUDQXQGVWHOOWHVLFKYRU ª6HKUZRKO© DQWZRUWHWH GHU *HQHUDO ªZRPLW NDQQ LFK GLHQHQ"© ª(LQ GULQJOLFKHV *HVFKlIW KDEH LFK QLFKW PHLQH $EVLFKW ZDU HLQIDFK ,KUH %HNDQQWVFKDIW ]X PDFKHQ ,FK P|FKWH QLFKW VW|UHQ GD LFK ZHGHU ,KUHQ (PSIDQJVWDJ QRFK ,KUH 'LVSRVLWLRQHQNHQQH$EHULFKNRPPHHEHQYRQGHU%DKQ LFKELQDXVGHU6FKZHL]KHUJHUHLVW© 'HU*HQHUDOZDUQDKHGDUDQ]XOlFKHOQDEHUHUEHUOHJWHXQG KLHOWLQQHGDQQ EHUOHJWH HU QRFK HLQ ZHQLJ NQLII GLH $XJHQ ]XVDPPHQPXVWHUWHVHLQHQ*DVWQRFKHLQPDOYRQ.RSIELV]X GHQ )HQ ERW LKP GDQQ VFKQHOO HLQHQ 6WXKO DQ VHW]WH VLFK VHOEVW VFKUlJ JHJHQEHU XQG ZDQGWH VLFK LQ XQJHGXOGLJHU (UZDUWXQJ ]XP )UVWHQ KLQ *DQMD VWDQG LQ HLQHU (FNH GHV $UEHLWV]LPPHUV DP 6FKUHLEWLVFK XQG EOlWWHUWH LQ 3DSLHUHQ ª)UQHXH%HNDQQWVFKDIWHQKDEHLFKLPDOOJHPHLQHQQXUZHQLJ =HLW© VDJWH GHU *HQHUDO ªDEHU GD 6LH JHZL GDEHL ,KUH $EVLFKW KDEHQ VR © ª,FK KDEH HV PLU YRUKHU JHGDFKW©
XQWHUEUDFK LKQ GHU )UVW ªGD 6LH LQ PHLQHP %HVXFK MHGHQIDOOV LUJHQGHLQH EHVRQGHUH $EVLFKW VHKHQ ZUGHQ $EHU EHL*RWWDXHUGHP9HUJQJHQPLW,KQHQEHNDQQW]XZHUGHQ KDEHLFKNHLQHUOHLEHVRQGHUH$EVLFKW© ª'DV9HUJQJHQLVWVLFKHUOLFKDXFKIUPLFKHLQVHKUJURHV DEHU PDQ NDQQ VLFK QLFKW LPPHU GHP 9HUJQJHQ ZLGPHQ HV NRPPHQ PDQFKPDO DXFK *HVFKlIWH YRU ZLH LFK ZLVVHQ ZHUGHQ $XHUGHP YHUPDJ LFK ELV MHW]W DEVROXW NHLQH JHPHLQVDPH %H]LHKXQJ ]ZLVFKHQ XQV ]X HUNHQQHQ VR]XVDJHQ HLQHQ WULIWLJHQ *UXQG © ª(LQ WULIWLJHU *UXQG LVW XQVWUHLWLJ QLFKW YRUKDQGHQ XQG JHPHLQVDPH %H]LHKXQJHQ JHZLQXUZHQLJH'HQQGDLFK)UVW0\VFKNLQELQXQG,KUH *HPDKOLQ DXV XQVHUHP *HVFKOHFKW VWDPPW LVW VHOEVWYHUVWlQGOLFKNHLQWULIWLJHU*UXQG'DVVHKHLFKVHKUZRKO HLQ $EHU GRFK OLHJW GDULQ GHU JDQ]H $QOD PHLQHV %HVXFKHV ,FKELQXQJHIlKUYLHU-DKUHQLFKWLQ5XODQGJHZHVHQPHKUDOV YLHU -DKUH XQG DOV LFK ZHJIXKU ZDU LFK EHLQDK QLFKW EHL 6LQQHQ 'DPDOV NDQQWH LFK QLFKWV LQ GHU :HOW XQG MHW]W QRFK ZHQLJHU ,FK EHGDUI GHV 9HUNHKUV PLW JXWHQ 0HQVFKHQ XQG GDQQKDEHLFKGDDXFKQRFKHLQHJHVFKlIWOLFKH$QJHOHJHQKHLW XQGLFKZHLQLFKWZRKLQLFKPLFKKLQVLFKWOLFKGHUVHOEHQXP 5DWZHQGHQVROO6FKRQLQ%HUOLQGDFKWHLFK¾'DVVLQGEHLQDK 9HUZDQGWHYRQPLUPLWGHQHQZHUGHLFKGHQ$QIDQJPDFKHQ YLHOOHLFKWSDVVHQZLU]XHLQDQGHUVLH]XPLUXQGLFK]XLKQHQ± ZHQQ VLH JXWH 0HQVFKHQ VLQG½ 8QG GD 6LH JXWH 0HQVFKHQ VLQG KDWWH LFK JHK|UW© ª,FK ELQ ,KQHQ VHKU YHUEXQGHQ© YHUVHW]WH GHU *HQHUDO YHUZXQGHUW ª*HVWDWWHQ 6LH PLU GLH )UDJH ZR VLQG 6LH DEJHVWLHJHQ"© ª,FK ELQ QRFK QLUJHQGV DEJHVWLHJHQ© ª$OVR VLQG 6LH JHUDGHVZHJV YRQ GHU %DKQ ]X PLU JHNRPPHQ" 8QG GDV *HSlFN"© ª$OV JDQ]HV *HSlFN KDEH LFK HLQ NOHLQHV %QGHOFKHQ PLW :lVFKH EHL PLU ZHLWHU QLFKWV GDV WUDJH LFK JHZ|KQOLFK LQ GHU +DQG ,FK ZHUGH DP $EHQG QRFK =HLW KDEHQ PLU HLQ =LPPHU ]X QHKPHQ© ª$OVR EHDEVLFKWLJHQ6LHDXFKMHW]WQRFKLQHLQHQ*DVWKRI]XJHKHQ"©
ª-DJHZL© ª1DFK,KUHQ:RUWHQKDWWHLFKEHLQDKJHJODXEW GD6LHHLQIDFKEHLPLU4XDUWLHUQHKPHQZROOWHQ©ª'DVZlUH GRFK QXU P|JOLFK ZHQQ 6LH PLFK HLQOGHQ ,FK JHVWHKH LQGHVVHQ GD LFK DXFK LP )DOO HLQHU (LQODGXQJ QLFKW KLHUEOHLEHQZUGHQLFKWDXVLUJHQGHLQHPEHVRQGHUHQ *UXQGH VRQGHUQQXUZHLOGDVVRLQPHLQHP&KDUDNWHUOLHJW©ª1XQGD WULIIWHVVLFKMDJXWGDLFK6LHQLFKWHLQJHODGHQKDEHXQGQLFKW HLQODGHQZHUGH*HVWDWWHQ6LHPLUQRFKHLQH%HPHUNXQJ)UVW XPJOHLFKPLWHLQHP0DOHDOOHVNODU]XOHJHQGDZLUXQVVRHEHQ GDUEHU DXVJHVSURFKHQ KDEHQ GD YRQ HLQHU 9HUZDQGWVFKDIW ]ZLVFKHQXQVQLFKWGLH5HGHVHLQNDQQREZRKOHLQHVROFKHIU PLFK VHOEVWYHUVWlQGOLFK VHKU VFKPHLFKHOKDIW VHLQ ZUGH VR IROJW GDUDXV © ª6R IROJW GDUDXV GD LFK DXIVWHKHQ XQG ZHJJHKHQ VROO"© VDJWH GHU )UVW VLFK HUKHEHQG XQG ODFKWH GDEHL WURW] GHU VFKZLHULJHQ /DJH LQ GHU HU VLFK RIIHQEDU EHIDQG JDQ] KHLWHU ª8QG EHL *RWW *HQHUDO REZRKO LFK DEVROXWNHLQHSUDNWLVFKH.HQQWQLVGDYRQKDEHZDVKLHU%UDXFK LVW XQG ZLH KLHU EHUKDXSW GLH 0HQVFKHQ OHEHQ VR KDWWH LFK PLU GRFK JHGDFKW GD ]ZLVFKHQ XQV GLH 6DFKH JHQDX GHQ 9HUODXI QHKPHQ ZHUGH GHQ VLH MHW]W ZLUNOLFK JHQRPPHQ KDW 1XQYLHOOHLFKWLVWHVDXFKVRJDQ]LQGHU2UGQXQJ,FKKDEH MDDXFKGDPDOVDXIPHLQHQ%ULHINHLQH$QWZRUWEHNRPPHQ 1XQ DOVR OHEHQ 6LH ZRKO XQG HQWVFKXOGLJHQ 6LH GD LFK JHVW|UWKDEH© 'LH 0LHQH GHV )UVWHQ ZDU LQ GLHVHP $XJHQEOLFN VR IUHXQGOLFK XQG VHLQ /lFKHOQ VR IUHL YRQ MHGHU %HLPLVFKXQJ LUJHQGHLQHV YHUERUJHQHQ IHLQGVHOLJHQ *HIKOV GD GHU *HQHUDO SO|W]OLFK VWXW]WH XQG VHLQHQ *DVW LQ DQGHUHU :HLVH DQVDK GLH JDQ]H 9HUlQGHUXQJ VHLQHU $QVLFKW YROO]RJ VLFK LQ HLQHP0RPHQWª:LVVHQ6LH)UVW©VDJWHHULQJDQ]DQGHUHP 7RQ ªLFK NHQQH 6LH MD QRFK JDU QLFKW XQG DXFK /LVDZHWD 3URNRIMHZQD ZLUG YLHOOHLFKW GHQ :XQVFK KDEHQ LKUHQ 1DPHQVYHWWHU ]X VHKHQ :DUWHQ 6LH GRFK HLQ :HLOFKHQ ZHQQ 6LH ZROOHQ XQG ,KUH =HLW HV HUODXEW© ª2K PHLQH =HLW
HUODXEWHVVFKRQPHLQH=HLWVWHKWJDQ]]XPHLQHU9HUIJXQJ© 'HU )UVW OHJWH VRJOHLFK VHLQHQ ZHLFKHQ UXQGNUHPSLJHQ +XW DXI GHQ 7LVFK ª,FK PX EHNHQQHQ LFK KDWWH DXFK GDUDXI JHUHFKQHW GD /LVDZHWD 3URNRIMHZQD VLFK YLHOOHLFKW DQ GDV ZDV LFK LKU JHVFKULHEHQ KDEH HULQQHUQ ZHUGH 9RUKLQ DOV LFK GRUW EHL ,KQHQ ZDUWHWH DUJZ|KQWH ,KU 'LHQHU GD LFK JHNRPPHQ VHL XP 6LH XP HLQH 8QWHUVWW]XQJ ]X ELWWHQ LFK PHUNWH GDV XQG 6LH ZHUGHQ ZRKO LQ GLHVHU +LQVLFKW VWUHQJH ,QVWUXNWLRQHQ HUWHLOW KDEHQ DEHU LFK ELQ ZLUNOLFK QLFKW GHVZHJHQ KHUJHNRPPHQ VRQGHUQ ZLUNOLFK QXU XP PLW 0HQVFKHQ ]XVDPPHQ]XNRPPHQ ,FK IUFKWH QXU ,KQHQ OlVWLJ JHZRUGHQ ]X VHLQ XQG GDV EHXQUXKLJW PLFK© ª+|UHQ 6LH )UVW© VDJWH GHU *HQHUDO PLW HLQHP KHLWHUHQ /lFKHOQ ªZHQQ 6LHZLUNOLFKHLQVROFKHU0HQVFKVLQGZLHHVGHQ$QVFKHLQKDW VRZLUGGLH%HNDQQWVFKDIWPLW,KQHQYLHOOHLFKWJDQ]DQJHQHKP VHLQQXUVHKHQ6LHLFKELQYRQ*HVFKlIWHQVWDUNLQ$QVSUXFK JHQRPPHQ XQG PX PLFK JOHLFK ZLHGHU KLQVHW]HQ XQG GLHV XQG GDV GXUFKVHKHQ XQG XQWHUVFKUHLEHQ XQG GDQQ EHJHEH LFK PLFK]X6HLQHU(UODXFKWXQGGDQQLQGHQ'LHQVWVRNRPPWHV GD ZHQQ PLU DXFK GHU 9HUNHKU PLW JXWHQ 0HQVFKHQ )UHXGH PDFKW GDV KHLW DEHU hEULJHQV ELQ LFK YRQ ,KUHU 9RUWUHIIOLFKHQ(U]LHKXQJVRIHVWEHU]HXJWGD$EHUZLHDOW VLQG 6LH HLJHQWOLFK )UVW"© ª6HFKVXQG]ZDQ]LJ© ª2K ,FK KDWWH6LHZHLWMQJHUJHVFKlW]W© ª-D PDQ VDJW PLU GD LFK HLQ MXJHQGOLFKHV *HVLFKW KDEH $EHU6LHQLFKW]XVW|UHQGDVZHUGHLFKVFKRQOHUQHQXQGEDOG EHJUHLIHQ ZHLO HV PLU VHOEVW VHKU ]XZLGHU LVW MHPDQGHQ ]X VW|UHQ 8QG VFKOLHOLFK VLQG ZLU ZLH PLU VFKHLQW GHP bXHUHQQDFKLQYLHOHUOHL+LQVLFKWVRYHUVFKLHGHQH0HQVFKHQ GD ZLU ZRKO QLFKW YLHOH %HUKUXQJVSXQNWH KDEHQ N|QQHQ $EHUZLVVHQ 6LH DQ GLHVH OHW]WH %HPHUNXQJ JODXEH LFK VHOEVW QLFKW UHFKW GHQQ VHKU RIW VFKHLQW HV QXU VR GD NHLQH %HUKUXQJVSXQNWH YRUKDQGHQ VHLHQ XQG VLH VLQG GRFK LQ 0HQJH GD 'DV NRPPW YRQ GHU PHQVFKOLFKHQ 7UlJKHLW
LQGHP GLH 0HQVFKHQ HLQDQGHU QXU QDFK GHP bXHUHQ 6FKHLQ NODVVLIL]LHUHQXQGGDEHLNHLQHbKQOLFKNHLWHQILQGHQN|QQHQ $EHULFKODQJZHLOH6LHZRKOVFKRQ"(VNRPPWPLUYRUDOVRE 6LH © ª1XU ]ZHL :RUWH EHVLW]HQ 6LH ZHQLJVWHQV HWZDV 9HUP|JHQ" 2GHU EHDEVLFKWLJHQ 6LH YLHOOHLFKW LUJHQGHLQH %HVFKlIWLJXQJ DQ]XQHKPHQ" 9HU]HLKHQ 6LH GD LFK VR © ª$EHU LFK ELWWH 6LH LFK ILQGH ,KUH )UDJH VHKU QDWUOLFK XQG EHJUHLIOLFK ,FK EHVLW]H ]XU =HLW JDU NHLQ 9HUP|JHQ XQG KDEH YRUOlXILJ DXFK NHLQH %HVFKlIWLJXQJ P|FKWH DEHU HLQH VROFKH KDEHQ,FKKDEHMHW]WYRQIUHPGHP*HOGJHOHEWPHLQ3URIHVVRU 6FKQHLGHU EHL GHP LFK LQ GHU 6FKZHL] HLQH .XU PDFKWH XQG PLFK ZLVVHQVFKDIWOLFK ZHLWHUELOGHWH KDW PLU GDV 5HLVHJHOG JHJHEHQXQG]ZDUQXUJHUDGHDXVUHLFKHQGVRGDLFKMHW]WQXU HLQLJH .RSHNHQ EULJ KDEH $OOHUGLQJV KDEH LFK GD HLQH JHVFKlIWOLFKH $QJHOHJHQKHLW LQ GHU LFK HLQHQ JXWHQ 5DW JHEUDXFKHQN|QQWHDEHU©ª6DJHQ6LHZRYRQEHDEVLFKWLJHQ 6LHGHQQ]XQlFKVW]XOHEHQXQGZHOFKHVVLQG,KUH3OlQHIUGLH =XNXQIW"© XQWHUEUDFK LKQ GHU *HQHUDO ª,FK ZROOWH LUJHQGZLH DUEHLWHQ© ª2FK 6LH VLQG RIIHQEDU HLQ 3KLORVRSK LQGHVVHQ EHVLW]HQ 6LH QDFK ,KUHP HLJHQHQ 8UWHLO LUJHQGZHOFKH 7DOHQWH RGHUZHQLJVWHQVHLQLJH)lKLJNHLWHQGDVKHLWVROFKHGXUFKGLH PDQ VLFK VHLQ WlJOLFKHV %URW YHUGLHQHQ NDQQ" 9HU]HLKHQ 6LH ZLHGHU © ª2K HV EHGDUI NHLQHU (QWVFKXOGLJXQJ 1HLQ LFK EHVLW]H PHLQHU 0HLQXQJ QDFK ZHGHU 7DOHQWH QRFK EHVRQGHUH )lKLJNHLWHQLP*HJHQWHLOLFKKDEHVRJDUZHLOLFKHLQNUDQNHU 0HQVFK ELQ NHLQHQ UHJXOlUHQ 8QWHUULFKWVJDQJ GXUFKJHPDFKW :DVGDVWlJOLFKH%URWDQODQJWVRP|FKWHLFKPHLQHQ© 'HU *HQHUDO XQWHUEUDFK LKQ ZLHGHU XQG EHJDQQ LKQ YRQ QHXHP]XIUDJHQ'HU)UVWHU]lKOWHQRFKHLQPDODOOHVZDVHU VFKRQ YRUKHU HU]lKOW KDWWH (V VWHOOWH VLFK KHUDXV GD GHU *HQHUDOYRQGHPYHUVWRUEHQHQ3DZOLVFKWVFKHZJHK|UWXQGLKQ VRJDU SHUV|QOLFK JHNDQQW KDWWH :DUXP 3DZOLVFKWVFKHZ VLFK IU GLH (U]LHKXQJ GHV )UVWHQ LQWHUHVVLHUW KDWWH GDV ZXWH GLHVHU VHOEVW QLFKW ]X HUNOlUHQ YLHOOHLFKW HLQIDFK DXV DOWHU
)UHXQGVFKDIW PLW VHLQHP YHUVWRUEHQHQ 9DWHU 'HU )UVW ZDU QRFK HLQ NOHLQHV .LQG JHZHVHQ DOV GHU 7RG VHLQHU (OWHUQ LKQ ]XU:DLVHPDFKWHZDUDXIGHP/DQGHDXIJHZDFKVHQXQGKDWWH GRUW VHLQH JDQ]H -XJHQG YHUOHEW QDPHQWOLFK DXFK ZHLO VHLQ *HVXQGKHLWV]XVWDQG /DQGOXIW YHUODQJWH 3DZOLVFKWVFKHZ KDWWH LKQ HLQ SDDU DOWHQ *XWVEHVLW]HULQQHQ GLH PLW LKP YHUZDQGW ZDUHQ DQYHUWUDXW HV ZXUGH IU LKQ ]XHUVW HLQH *RXYHUQDQWH GDQQHLQ+DXVOHKUHUDQJHQRPPHQHUHUNOlUWHEULJHQVGDHU VLFK ]ZDU DQ DOOHV HULQQHUH DEHU QXU EHU ZHQLJHV LQ EHIULHGLJHQGHU :HLVH ]X EHULFKWHQ YHUP|JH GD HU VLFK EHU YLHOHV VHLQHU]HLW QLFKW KDEH 5HFKHQVFKDIW JHEHQ N|QQHQ 'LH KlXILJHQ .UDQNKHLWVDQIlOOH KlWWHQ LKQ IDVW ]XP ,GLRWHQ JHPDFKWGHU)UVWJHEUDXFKWHGLHVHQ$XVGUXFN]XP,GLRWHQ (UHU]lKOWHHQGOLFKGD3DZOLVFKWVFKHZHLQHV7DJHVLQ%HUOLQ GHQ 6FKZHL]HU 3URIHVVRU 6FKQHLGHU NHQQHQJHOHUQW KDEH GHU VLFK VSH]LHOO PLW GLHVHQ .UDQNKHLWHQ EHVFKlIWLJH LQ GHU 6FKZHL] LP .DQWRQ :DOOLV HLQH +HLODQVWDOW EHVLW]H XQG GRUW QDFK VHLQHU HLJHQHQ 0HWKRGH ,GLRWLH XQG DQGHUH *HLVWHVNUDQNKHLWHQ PLW NDOWHP :DVVHU XQG J\PQDVWLVFKHQ hEXQJHQ NXULHUH XQG GDEHL VHLQH 3DWLHQWHQ DXFK XQWHUULFKWH XQGEHUKDXSWIULKUH JHLVWLJH(QWZLFNOXQJVRUJH]XGLHVHP 3URIHVVRU 6FKQHLGHU KDEH 3DZOLVFKWVFKHZ LKQ YRU HWZD YLHU -DKUHQ QDFK GHU 6FKZHL] JHVFKLFNW VHL DEHU VHOEVW YRU ]ZHL -DKUHQ SO|W]OLFK JHVWRUEHQ RKQH ZHLWHUH $QRUGQXQJHQ JHWURIIHQ ]X KDEHQ 6FKQHLGHU KDEH LKP QRFK ]ZHL -DKUH 8QWHUKDOW JHZlKUW XQG LKQ EHKDQGHOW HU KDEH LKQ ]ZDU QLFKW Y|OOLJ JHKHLOW DEHU GRFK HLQH HUKHEOLFKH %HVVHUXQJ VHLQHV =XVWDQGHV KHUEHLJHIKUW VFKOLHOLFK KDEH HU LKQ DXI HLJHQHQ :XQVFK XQG LQIROJH HLQHV EHVRQGHUHQ 8PVWDQGHV MHW]W QDFK 5XODQGJHVFKLFNW 'HU *HQHUDO ZDU VHKU HUVWDXQW ª8QG 6LH NHQQHQ EHL XQV LQ 5XODQG QLHPDQG DEVROXW QLHPDQG"© IUDJWH HU ª=XU =HLW NHQQH LFK QLHPDQG DEHU LFK KRIIH DXHUGHP KDEH LFK HLQHQ %ULHI HUKDOWHQ © ª$EHU 6LH KDEHQ GRFK ZHQLJVWHQV©
XQWHUEUDFK LKQ GHU *HQHUDO RKQH DXI GDV ZDV GHU )UVW YRQ GHP%ULHIVDJWHUHFKWKLQ]XK|UHQ ªLUJHQG HWZDV JHOHUQWXQG ,KUH .UDQNKHLW KLQGHUW 6LH QLFKW HLQH QLFKW JHUDGH PKHYROOH 6WHOOH LUJHQGZR LP 6WDDWVGLHQVW DQ]XQHKPHQ"© ª2K GDUDQ ZLUG VLH PLFK JHZL QLFKW KLQGHUQ 8QG ZDV HLQH 6WHOOH EHWULIIWVRLVWHVVRJDUPHLQOHEKDIWHU:XQVFKHLQHVROFKH]X HUKDOWHQZHLOLFKVHOEVWJHUQVHKHQP|FKWHZR]XLFKWDXJOLFK ELQ $Q PHLQHU JHLVWLJHQ %LOGXQJ KDEH LFK GLH JDQ]HQ YLHU -DKUH ODQJ VWlQGLJ JHDUEHLWHW IUHLOLFK QLFKW LQ UHJHOUHFKWHU )RUP VRQGHUQ QDFK GHV 3URIHVVRUV HLJHQHP 6\VWHP XQG HV HUJDE VLFK GD LFK GDEHL VHKU YLHOH UXVVLVFKH %FKHU ODV© ª5XVVLVFKH %FKHU"$OVRN|QQHQ6LHUXVVLVFKOHVHQXQGRKQH RUWKRJUDSKLVFKH)HKOHUVFKUHLEHQ"© ª2K GDV NDQQ LFK VHKU ZRKO© ª9RUWUHIIOLFK 8QG GLH +DQGVFKULIW"© ª0HLQH +DQGVFKULIW LVW YRU]JOLFK +LHULQ EHVLW]H LFK YLHOOHLFKW VRJDU 7DOHQW LFK ELQ JHUDGH]X HLQ .DOOLJUDSK*HVWDWWHQ6LHGDLFK,KQHQVRIRUWHWZDV]XU3UREH VFKUHLEH© VDJWH GHU )UVW HLIULJ ª+DEHQ 6LH GLH )UHXQGOLFKNHLW(VLVWGDVVRJDUHUIRUGHUOLFK8QGGLHVH,KUH %HUHLWZLOOLJNHLW JHIlOOW PLU VHKU )UVW 6LH VLQG ZLUNOLFK VHKU OLHEHQVZUGLJ© ª6LH KDEHQ VR SUlFKWLJH 6FKUHLEXWHQVLOLHQ ZDV IU HLQH 0HQJH %OHLVWLIWH XQG )HGHUQ XQG ZLH NUlIWLJHV SUDFKWYROOHV 3DSLHU 8QG ZDV 6LH IU HLQ ZXQGHUYROOHV $UEHLWV]LPPHUKDEHQ'LHVH /DQGVFKDIWKLHUNHQQH LFK HV LVW HLQH$QVLFKWDXVGHU6FKZHL],FKJODXEHVLFKHUGDGHU0DOHU GDV %LOG QDFK GHU 1DWXU JHPDOW KDW XQG GD LFK GLHVH gUWOLFKNHLWJHVHKHQKDEHHVLVWDXVGHP.DQWRQ8UL© ª'DV NDQQOHLFKWVHLQREZRKOGDV%LOGKLHUJHNDXIWLVW*DQMDJHEHQ 6LH GHP )UVWHQ 3DSLHU KLHU VLQG )HGHUQ XQG 3DSLHU %LWWH VHW]HQ6LHVLFKDQGLHVHV7LVFKFKHQ:DVLVWGDV"©ZDQGWHVLFK GHU*HQHUDO]X*DQMDGHUXQWHUGHVVHQDXVVHLQHP3RUWHIHXLOOH HLQH 3KRWRJUDSKLH LQ *URIRUPDW KHUDXVJHQRPPHQ KDWWH XQG LKP QXQ ]HLJWH ª$K 1DVWDVMD )LOLSSRZQD +DW VLH GLU GDV VHOEVWJHVFKLFNW"6HOEVW"©IUDJWHHU*DQMDOHEKDIWXQGPLWGHP
JU|WHQ ,QWHUHVVH ª6LH KDW HV PLU VRHEHQ JHJHEHQ DOV LFK GD ZDU XP LKU ]X JUDWXOLHUHQ ,FK KDWWH VLH VFKRQ ODQJH GDUXP JHEHWHQ,FKZHLQLFKWREGDVQLFKWHWZDYRQLKUHU6HLWHHLQH $QVSLHOXQJ VHLQ VROO GD LFK VHOEVW PLW OHHUHQ +lQGHQ RKQH *HVFKHQN DQ HLQHP VROFKHQ 7DJH ]X LKU NDP© IJWH *DQMD PLW HLQHP XQDQJHQHKPHQ /lFKHOQ KLQ]X ª$EHU QHLQ© XQWHUEUDFKLKQGHU*HQHUDOLP7RQHIHVWHUhEHU]HXJXQJª:DV LVW GDV EHL GLU IU HLQH VHOWVDPH *HGDQNHQYHUELQGXQJ 6LH VROOWH HLQH VROFKH $QVSLHOXQJ PDFKHQ XQG GDEHL LVW VLH EHUKDXSW JDQ] XQG JDU QLFKW HLJHQQW]LJ $XHUGHP ZDV N|QQWHVW GX LKU VFKHQNHQ" 'D]X JHK|UHQ MD GRFK 7DXVHQGH (WZDGHLQ%LOG"+DWVLHGLFKEULJHQVQRFKQLFKWXPGHLQ%LOG JHEHWHQ"©ª1HLQGDVKDWVLHQRFKQLFKWJHWDQXQGVLHZLUGHV DXFKYLHOOHLFKWQLHWXQ6LHGHQNHQGRFK JHZL DQGLHKHXWLJH $EHQGJHVHOOVFKDIW ,ZDQ )MRGRURZLWVFK" 6LH KDEHQ GRFK JHZL DXFK HLQH DXVGUFNOLFKH (LQODGXQJ HUKDOWHQ"© ª*HZL LFK GHQNH GDUDQ JHZL XQG ZHUGH KLQJHKHQ 6HOEVWYHUVWlQGOLFK,KU*HEXUWVWDJDQGHPVLHIQIXQG]ZDQ]LJ -DKUHDOWZLUG+P$EHUZHLWGX*DQMDLFKZLOOHVGLULQ *RWWHV 1DPHQ YHUUDWHQ %HUHLWH GLFK YRU 6LH KDW PLU XQG $IDQDVVLM,ZDQRZLWVFKYHUVSURFKHQVLHZHUGHKHXWHDEHQGEHL VLFK]X+DXVHGDVOHW]WH:RUWVDJHQ6HLQRGHU1LFKWVHLQ$OVR PDFKHGLFKGDUDXIJHIDWZHLWGX© *DQMD JHULHW DXI HLQPDO LQ HLQH VROFKH %HVWU]XQJ GD HU VRJDU HLQ ZHQLJ EOD ZXUGH ª+DW VLH GDV ZLUNOLFK JHVDJW"© IUDJWHHUXQGHVZDUDOV]LWWHUHLKPGLH6WLPPH ª9RUJHVWHUQ KDW VLH XQV LKU :RUW JHJHEHQ :LU KDEHQ VLH EHLGH VR LQ GLH (QJH JHWULHEHQ GD VLH QLFKW DQGHUV NRQQWH 1XU EDW VLH XQV GLUYRUKHUQLFKWVGDYRQ]XYHUUDWHQ© 'HU *HQHUDO EOLFNWH *DQMD IRUVFKHQG LQV *HVLFKW *DQMDV %HVWU]XQJ PLILHO LKP RIIHQEDU ª+DOWHQ 6LH VLFK JHJHQZlUWLJ ,ZDQ )MRGRURZLWVFK© VDJWH *DQMD LQ DXIJHUHJWHP XQVLFKHUHP 7RQ ªGD VLH PLU MD IU PHLQH (QWVFKOLHXQJ YROOH )UHLKHLW JHODVVHQ KDW ELV ]X GHP
$XJHQEOLFN ZR VLH VHOEVW VLFK HQWVFKLHGHQ KDEHQ ZLUG XQG DXFK GDQQ KDEH LFK LPPHU QRFK IUHLH +DQG PHLQ :RUW © ª$OVR ZLOOVW GX YLHOOHLFKW DOVR ZLOOVW GX YLHOOHLFKW © XQWHUEUDFK LKQ GHU *HQHUDO HUVFKURFNHQ ª,FK KDEH QLFKWV JHVDJW© ª$EHU LFK ELWWH GLFK ZDV ZLOOVW GX XQV DQWXQ"© ª,FK ZHLJHUH PLFK MD QLFKW ,FK KDEH PLFK YLHOOHLFKW QLFKW ULFKWLJ DXVJHGUFNW © ª'DV IHKOWH DXFK QRFK GD GX GLFK ZHLJHUWHVW© ULHI GHU *HQHUDO XQZLOOLJ RKQH VHLQHQ bUJHU YHUEHUJHQ]XZROOHQª/LHEHU)UHXQGZDVGXMHW]W]XWXQKDVW LVWQLFKWHWZDGLFKQLFKW]XZHLJHUQVRQGHUQEHUHLWZLOOLJPLW 9HUJQJHQPLW)UHXGHLKU-DZRUW ]X HPSIDQJHQ :LH VWHKW HV GHQQ EHL GLU ]X +DXVH"© ª%HL PLU ]X +DXVH" %HL PLU ]X +DXVH JHKW DOOHV QDFK PHLQHP :LOOHQ 1XU PHLQ 9DWHU WUHLEW VHLQH 'XPPKHLWHQ ZLH VRQVW HU LVW MHW]W VFKRQ HLQ JDQ] YHUNRPPHQHU 0HQVFK LFK UHGH PLW LKP JDU QLFKW PHKU DEHU LFKKDOWHLKQLP=DXPXQGZUGHLKPZHQQQLFKWGLH0XWWHU ZlUH ZHL *RWW GLH 7U ZHLVHQ 'LH 0XWWHU ZHLQW QDWUOLFK IRUWZlKUHQGXQGGLH6FKZHVWHUERVWVLFKDEHULFKKDEHLKQHQ VFKOLHOLFKNOLSSXQGNODUJHVDJWGDLFKPHLQ6FKLFNVDOVHOEVW ]X EHVWLPPHQ KDEH XQG LP +DXVH PHLQH $QRUGQXQJHQ EHIROJW]XVHKHQZQVFKH0HLQHU6FKZHVWHUZHQLJVWHQVKDEH LFKGDVLQ*HJHQZDUWGHU0XWWHUPLWDOOHU'HXWOLFKNHLWJHVDJW© ª5HFKWNOXJZHUGHLFKDXVGHU6DFKHLPPHUQRFKQLFKWOLHEHU )UHXQG© EHPHUNWH GHU *HQHUDO QDFKGHQNOLFK ZREHL HU GLH 6FKXOWHUQ HWZDV LQ GLH +|KH ]RJ XQG GLH $UPH HLQ ZHQLJ DXVEUHLWHWHª1LQD$OH[DQGURZQDKDWPLUQRFKQHXOLFKDOVVLH PLFK EHVXFKHQ NDP GX HULQQHUVW GLFK ZRKO" HWZDV YRUJHVW|KQW XQG YRUJHMDPPHUW ¾:DV KDEHQ 6LH GHQQ HLJHQWOLFK"½ IUDJWH LFK VLH 6FKOLHOLFK NDP HV KHUDXV GD VLH GDULQHLQH$UW(QWHKUXQJVHKHQ1XQP|FKWHLFKEORZLVVHQ ZDV GDULQ IU HLQH (QWHKUXQJ OLHJHQ VROO :HU NDQQ 1DVWDVMD )LOLSSRZQDLUJHQGHLQHQ9RUZXUIPDFKHQRGHULKULUJHQGHWZDV 6FKOHFKWHVQDFKVDJHQ"(WZDGDVLHPLW7R]NLMHLQ9HUKlOWQLV JHKDEW KDW" $EHU GDV LVW MD GRFK ODXWHU GXPPHV =HXJ
QDPHQWOLFKLQ$QEHWUDFKWJHZLVVHU8PVWlQGH¾6LHZHUGHQVLH GRFK DXFK QLFKW PLW LKUHQ 7|FKWHUQ YHUNHKUHQ ODVVHQ½ VDJWH VLH 1D VR ZDV (L HL 1LQD $OH[DQGURZQD 'DV LVW MD GRFK HLQH DUJH 9HUNHQQXQJ HLQH DUJH 9HUNHQQXQJ © ª'HU HLJHQHQ 6WHOOXQJ© HUJlQ]WH *DQMD GHQ 6DW] GHV *HQHUDOV GHU QDFKHLQHP$XVGUXFNVXFKWHª$EHUVLHYHUVWHKWLKUH6WHOOXQJ VHLHQ 6LH LKU QLFKW E|VH ,FK KDEH LKQHQ EULJHQV GDPDOV JHK|ULJ GHQ .RSI JHZDVFKHQ GDPLW VLH VLFK QLFKW ZLHGHU LQ IUHPGH $QJHOHJHQKHLWHQ HLQPLVFKHQ 8QG GRFK EOHLEW ELVKHU EHL XQV ]X +DXVH DOOHV QXU GHVZHJHQ LP *HOHLVH ZHLO GDV OHW]WH:RUWQRFKQLFKWJHVSURFKHQLVWDEHUGDV*HZLWWHUUFNW KHUDQ :HQQ KHXWH GDV OHW]WH :RUW JHVSURFKHQ ZLUG GDQQ LVW GDPLWDOOHVHQWVFKLHGHQ© 'HU )UVW GHU LQ HLQHU (FNH EHL VHLQHU NDOOLJUDSKLVFKHQ 3UREHDUEHLWVDK|UWHGLHVHVJDQ]H*HVSUlFKPLWDQ1XQZDU HU IHUWLJ WUDW DQ GHQ 7LVFK XQG EHUUHLFKWH GHP *HQHUDO VHLQ %ODWW ª$OVR GDV LVW 1DVWDVMD )LOLSSRZQD"© VDJWH HU LQGHP HU GDV 3RUWUlW DXIPHUNVDP XQG QHXJLHULJ EHWUDFKWHWH ª(LQH ZXQGHUEDUVFK|QH)UDX©VHW]WHHUVRJOHLFKOHEKDIWKLQ]X 'DV3RUWUlWVWHOOWHLQGHU7DWHLQH )UDX YRQ XQJHZ|KQOLFKHU 6FK|QKHLW GDU 6LH KDWWH VLFK LQ HLQHP VFKZDU]HQ 6HLGHQNOHLG YRQ DXHURUGHQWOLFK HLQIDFKHP HOHJDQWHP 6FKQLWW SKRWRJUDSKLHUHQ ODVVHQ GDV DQVFKHLQHQG GXQNHOEORQGH +DDU ]HLJWH HLQH VFKOLFKWH IU GDV +DXV EHVWLPPWH )ULVXU GLH $XJHQ ZDUHQ GXQNHO XQG WLHI GLH 6WLUQ QDFKGHQNOLFK GDV *HVLFKW WUXJ HLQHQ OHLGHQGHQ XQG GDEHL ZLH HV VFKLHQ GRFK KRFKPWLJHQ $XVGUXFN 6LH ZDU LP *HVLFKW HWZDV PDJHU XQG YLHOOHLFKW DXFK EOD *DQMD XQG GHU *HQHUDO VDKHQ GHQ )UVWHQ HUVWDXQW DQ ª1DVWDVMD )LOLSSRZQD" .HQQHQ 6LH 1DVWDVMD)LOLSSRZQDHWZDVFKRQ"©IUDJWHGHU*HQHUDOª-DLFK ELQHUVWYLHUXQG]ZDQ]LJ6WXQGHQLQ5XODQGXQGNHQQHEHUHLWV HLQH VROFKH 6FK|QKHLW© DQWZRUWHWH GHU )UVW 8QG QXQ EHULFKWHWH HU YRQ VHLQHU %HJHJQXQJ PLW 5RJRVKLQ XQG WHLOWH DOOHV PLW ZDV GLHVHU HU]lKOW KDWWH ª'DV LVW MD HLQH KEVFKH
1HXLJNHLW©ULHIGHU*HQHUDOGHUZLHGHULQ8QUXKHJHUDWHQZDU (U KDWWH GLH (U]lKOXQJ PLW JURHU $XIPHUNVDPNHLW DQJHK|UW XQGEOLFNWHQXQ*DQMDIUDJHQGDQª:DKUVFKHLQOLFKQXUVRHLQH 8QVFKLFNOLFKNHLW© PXUPHOWH GLHVHU GHP JOHLFKIDOOV HLQH JHZLVVH %HWURIIHQKHLW DQ]XPHUNHQ ZDU ª(LQ .DXIPDQQVV|KQFKHQVFKOlJWEHUGLH6WUlQJH ,FKKDWWHVFKRQ HWZDV GDYRQ JHK|UW© ª$XFK LFK KDWWH GDYRQ JHK|UW OLHEHU )UHXQG©HUZLGHUWHGHU*HQHUDO ª1DVWDVMD)LOLSSRZQDKDWPLU JOHLFK GDPDOV QDFK GHU *HVFKLFKWH PLW GHQ 2KUULQJHQ GHQ JDQ]HQ +HUJDQJ HU]lKOW $EHU GLH 6DFKH JHZLQQW MHW]W HLQ DQGHUHV *HVLFKW +LHU NRPPW YLHOOHLFKW ZLUNOLFK HLQH 0LOOLRQ LQV6SLHOXQGHLQH/HLGHQVFKDIW(LQHYHUGUHKWH/HLGHQVFKDIW DOOHUGLQJVDEHUHVVLHKWGRFKQDFK/HLGHQVFKDIWDXVXQGPDQ ZHLMDZR]XGLHVH+HUUHQLQVROFKHP5DXVFKHIlKLJVLQG +P :HQQ GDUDXV QXU QLFKW HLQ 6NDQGDO HQWVWHKW© VFKOR GHU*HQHUDOQDFKGHQNOLFKª6LHKDEHQ)XUFKWYRUGHU0LOOLRQ"© IUDJWH*DQMDOlFKHOQGª'XZRKOQLFKW"© ª:DV KDWWHQ 6LH IU HLQHQ (LQGUXFN )UVW"© ZDQGWH VLFK *DQMD SO|W]OLFK DQ LKQ ª,VW GDV HLQ HQHUJLVFKHU 0HQVFK RGHU QXUVRHLQZLQGLJHU3DWURQ":LHXUWHLOHQ6LHEHULKQ"© ,Q *DQMD JLQJ DOV HU GLHVH )UDJH VWHOOWH HWZDV %HVRQGHUHV YRU (LQ QHXHU HLJHQDUWLJHU *HGDQNH ZDU ZLH HV VFKLHQ LQ VHLQHP*HKLUQDXIJHIODPPWXQGOHXFKWHWHQXQXQJHGXOGLJDXV VHLQHQ $XJHQ KHUYRU 'HU *HQHUDO GHU LQ ZLUNOLFKH HUQVWH 8QUXKHJHUDWHQZDUVFKLHOWHJOHLFKIDOOVQDFKGHP)UVWHQKLQ DEHUPLWHLQHP*HVLFKWDOVZHQQHUYRQGHVVHQ$QWZRUWQLFKW YLHO HUZDUWH ª,FK ZHL QLFKW ZLH LFK PLFK DXVGUFNHQ VROO© DQWZRUWHWHGHU)UVWªDEHUPLUVFKLHQGDHUYRQHLQHUVWDUNHQ /HLGHQVFKDIW MD YRQ HLQHU NUDQNKDIWHQ /HLGHQVFKDIW HUJULIIHQ VHL $XFK N|USHUOLFK PDFKWH HU QRFK GXUFKDXV GHQ (LQGUXFN HLQHV.UDQNHQ6HKUP|JOLFKGD HUVLFK JOHLFKLQGHQHUVWHQ 7DJHQ VHLQHV $XIHQWKDOWHV KLHU LQ 3HWHUVEXUJ ZLHGHU LQV %HWW OHJHQ PX QDPHQWOLFK ZHQQ HU ]X ZLOG GUDXIORVOHEW© ª6R $OVR GLHVHQ (LQGUXFN KDWWHQ 6LH"© IUDJWH GHU *HQHUDO GHVVHQ
,QWHUHVVHGLHVHU*HGDQNHHUUHJWHª-DGHQ(LQGUXFNKDWWHLFK© ª8QG GHUDUWLJH 6NDQGDOJHVFKLFKWHQ ZHUGHQ VLFK P|JOLFKHUZHLVH QLFKW HUVW LQ HLQLJHQ 7DJHQ HUHLJQHQ VRQGHUQ HV NDQQ QRFK KHXWH HKH HV $EHQG ZLUG HLQH EHUUDVFKHQGH :HQGXQJHLQWUHWHQ©VDJWH*DQMDOlFKHOQG]XP*HQHUDOª+P *HZL 6HKU P|JOLFK HV KlQJW JDQ] GDYRQ DE ZDV VLH JHUDGH IU HLQHQ (LQIDOO KDW© YHUVHW]WH GHU *HQHUDO ª6LH ZLVVHQMDZLHZXQGHUOLFKVLHPDQFKPDOLVW©ª:DVPHLQVWGX GDPLW"©ULHIGHU*HQHUDOGHUVHKUYHUVWLPPWZDUKHIWLJª+|U PDO *DQMD WX PLU GHQ *HIDOOHQ XQG ZLGHUVSULFK LKU KHXWH QLFKW]XYLHOXQGJLEGLU0KHVRUHFKWZHLWGXPLWHLQHP :RUWH VR UHFKW KHU]OLFK ]X VHLQ +P :DUXP ]LHKVW GX GHQ 0XQG VFKLHI" +|U PDO *DZULOD $UGDOLRQ\WVFK LFK KDOWH IU ]ZHFNPlLJ IU VHKU ]ZHFNPlLJ GLU ]X VDJHQ ZR]X JHEHQZLUXQVDOOGLH0KH"'XVLHKVWZRKOHLQGDLFKPLFK KLQVLFKWOLFKPHLQHVHLJHQHQ*HZLQQDQWHLOVGHQPLUGLH6DFKH EULQJHQ VROO OlQJVW JHVLFKHUW KDEH LFK ZHUGH GLH $QJHOHJHQKHLWDXIGLHHLQHRGHUGLHDQGHUH$UWDEHUMHGHQIDOOV ]X PHLQHP 9RUWHLO HUOHGLJHQ 7R]NLM KDW VHLQHQ (QWVFKOX JHIDW XQG ZLUG GDUDQ XQHUVFKWWHUOLFK IHVWKDOWHQ VR GD LFK PLFKY|OOLJGDUDXIYHUODVVHQNDQQ:HQQLFK GDKHU MHW]W QRFK HLQHQ:XQVFKKHJHVRKDEHLFKGDEHLHLQ]LJXQGDOOHLQGHLQHQ 9RUWHLO LP $XJH 'DV NDQQVW GX GLU GRFK VHOEVW VDJHQ RGHU WUDXVWGXPLUHWZDQLFKW"'DEHLELVWGXGRFKHLQ0HQVFKHLQ 0HQVFKPLWHLQHP:RUWHHLQ0HQVFKGHU9HUVWDQGEHVLW]W XQG LFK KDEH LQ GLHVHU +LQVLFKW DXI GLFK JHUHFKQHW XQG 9HUVWDQG LVW GRFK LP YRUOLHJHQGHQ )DOOH LP YRUOLHJHQGHQ )DOOH © ª'LH +DXSWVDFKH© EHHQGHWH *DQMD GHQ 6DW] LQGHP HU ZLHGHU GHP QDFK HLQHP $XVGUXFN VXFKHQGHQ *HQHUDO ]X +LOIH NDP 'DEHL YHU]RJ HU VHLQH /LSSHQ ]X HLQHP ERVKDIWHQ /lFKHOQ GDV HU QLFKW PHKU ]X YHUEHUJHQ VXFKWH (U VDK PLW VHLQHP EUHQQHQGHQ %OLFN GHP *HQHUDO JHUDGH LQ GLH $XJHQ ZLH ZHQQ HU ZQVFKWH GD MHQHU LQ GLHVHP %OLFN DOO VHLQH *HGDQNHQ OHVHQ P|FKWH 'HU *HQHUDO ZXUGH GXQNHOURW XQG
IXKU DXI ª1XQ MD 9HUVWDQG LVW GLH +DXSWVDFKH© VWLPPWH HU EHLXQGEOLFNWH*DQMDVFKDUI DQ ª'XELVWGRFK HLQ NRPLVFKHU 0HQVFK*DZULOD$UGDOLRQ\WVFK:LHLFKPHUNHIUHXVWGXGLFK RUGHQWOLFKEHUGDV$XIWUHWHQGHV.DXIPDQQVVRKQHVDOVREGX GDULQ IU GLFK HLQHQ :HJ VlKHVW XP DXV GHU 6DFKH KHUDXV]XNRPPHQ $EHU JHUDGH KLHU ZlUH HV Q|WLJ JOHLFK YRQ $QIDQJDQ9HUVWDQG]XEHZHLVHQJHUDGHKLHUZlUHHVQ|WLJ]X EHJUHLIHQ XQG EHLGHUVHLWV RIIHQ XQG HKUOLFK ]X YHUIDKUHQ JHJHEHQHQIDOOVDEHU ZHQLJVWHQV YRUKHU 0LWWHLOXQJ ]X PDFKHQ XP QLFKW DQGHUH /HXWH ]X NRPSURPLWWLHUHQ XP VR PHKU DOV GD]X =HLW JHQXJ YRUKDQGHQ ZDU XQG VRJDU MHW]W QRFK =HLW JHQXJLVW©GHU*HQHUDO]RJEHGHXWVDPGLH$XJHQEUDXHQLQGLH +|KH ªREZRKOZLUQXUQRFKHLQSDDU6WXQGHQEULJKDEHQ +DVW GX YHUVWDQGHQ" -D" :LOOVW GX HLJHQWOLFK RGHU ZLOOVW GX QLFKW":HQQGXQLFKWZLOOVWVRVDJHHVGDVVROOPLUDXFKUHFKW VHLQ 1LHPDQG ZLUG 6LH IHVWKDOWHQ *DZULOD $UGDOLRQ\WVFK QLHPDQG6LHPLW*HZDOWLQGDV)XFKVHLVHQKLQHLQ]LHKHQZHQQ 6LH ZLUNOLFK KLHU QXU HLQ )XFKVHLVHQ ]X VHKHQ JODXEHQ© ª,FK ZLOO© HUZLGHUWH *DQMD KDOEODXW DEHU PLW IHVWHU 6WLPPH GDQQ VFKOXJ HU GLH $XJHQ QLHGHU XQG YHUVWXPPWH PLW ILQVWHUHU 0LHQH 'HU *HQHUDO ZDU ]XIULHGHQJHVWHOOW (U ZDU KLW]LJ JHZRUGHQ EHUHXWH HV DEHU RIIHQEDU VFKRQ GD HU VRZHLW JHJDQJHQZDU3O|W]OLFKZDQGWHHUVLFK]XP)UVWHQXQGEHU VHLQ *HVLFKW VFKLHQ GHU EHXQUXKLJHQGH *HGDQNH KLQ]XJHKHQ GD GHU )UVW GDV DOOHV PLW DQJHK|UW KDWWH $EHU HU EHUXKLJWH VLFKVRIRUWZLHGHUGD]XJHQJWHHLQHLQ]LJHU%OLFNDXIGLHVHQ ª2KR©ULHIGHU*HQHUDODOVHUGDVNDOOLJUDSKLVFKH3UREHVWFN EHWUDFKWHWHGDVLKPGHU)UVWUHLFKWHª'DVLVWMDJHUDGH]XHLQH 6FK|QVFKUHLEHYRUVFKULIW 8QG QRFK GD]X YRQ VHOWHQHU 6FK|QKHLW6LHKPDO*DQMDZDVIUHLQ7DOHQW© $XI HLQ GLFNHV %ODWW 9HOLQSDSLHU KDWWH GHU )UVW LQ PLWWHODOWHUOLFKHUUXVVLVFKHU6FKULIWGHQ6DW] JHVFKULHEHQ ª'HU GHPWLJH $EW 3DIQXWLM KDW GLHV HLJHQKlQGLJ XQWHU]HLFKQHW© ª6HKHQ 6LH QXU© HUNOlUWH GHU )UVW PLW DXHURUGHQWOLFKHU
)UHXGH XQG /HEKDIWLJNHLW ªGLHV LVW GLH HLJHQKlQGLJH 8QWHUVFKULIW GHV $EWHV 3DIQXWLM DXV GHP YLHU]HKQWHQ -DKUKXQGHUW QDFK HLQHP )DNVLPLOH 6LH EHZLHVHQ LQ LKUHQ 8QWHUVFKULIWHQ HLQH DXHURUGHQWOLFKH .XQVW DOO XQVHUH DOWHQ bEWH XQG 0HWURSROLWHQ XQG ZLH JHVFKPDFNYROO VHKHQ GLHVH 8QWHUVFKULIWHQ PDQFKPDO DXV XQG ZHOFKH 6RUJIDOW ODVVHQ VLH HUNHQQHQ +DEHQ 6LH QLFKW ZHQLJVWHQV GLH 3RJRGLQVFKH $XVJDEH *HQHUDO" 'DQQ KDEH LFK ,KQHQ KLHU HWZDV LQ HLQHU DQGHUHQ 6FKULIW JHVFKULHEHQ GDV LVW GLH UXQGH GHUEH IUDQ]|VLVFKH 6FKULIW GHV YRULJHQ -DKUKXQGHUWV HLQLJH %XFKVWDEHQ ZHLVHQ VRJDU DEZHLFKHQGH )RUPHQ DXI HV LVW GLH 6FKULIW GHU |IIHQWOLFKHQ 6FKUHLEHU GLH DXI GHQ 0DUNWSOlW]HQ VDHQ LFK KDEH VLH DXV HLQHP LKUHU 9RUVFKULIWHQEFKHU HQWQRPPHQLFKEHVDHLQV 6LHZHUGHQ]XJHEHQPVVHQGD VLH QLFKW RKQH JHZLVVH 9RU]JH LVW %HWUDFKWHQ 6LH QXU GLHVH UXQGHQ R XQG D ,FK KDEH GHQ IUDQ]|VLVFKHQ 6FKULIWFKDUDNWHU DXIGDVUXVVLVFKH$OSKDEHWEHUWUDJHQZDVHLQHUHFKWVFKZHUH $XIJDEHZDUDEHUHVLVWPLUGRFKJXWJHOXQJHQ+LHULVWQRFK HLQH VFK|QH HLJHQDUWLJH 6FKULIW KLHU GHU 6DW] ¾(LIHU EHUZLQGHW DOOHV½ 'DV LVW HLQH HFKW UXVVLVFKH 6FKULIW GLH 6FKULIW GHU 6FKUHLEHU RGHU ZHQQ 6LH ZROOHQ GHU 0LOLWlUVFKUHLEHU6RVFKUHLEWPDQHLQDPWOLFKHV6FKULIWVWFNDQ HLQH KRFKJHVWHOOWH 3HUV|QOLFKNHLW HV LVW JOHLFKIDOOV HLQH UXQGH 6FKULIW HLQH VHKU VFK|QH VFKOLFKWH 6FKULIW LQ VFKOLFKWHU $UW DEHU PLW EHDFKWHQVZHUWHP *HVFKPDFN JHVFKULHEHQ (LQ .DOOLJUDSKZUGHGLHVH6FKQ|UNHORGHUULFKWLJHUJHVDJWGLHVH 9HUVXFKH ]X 6FKQ|UNHOQ KLHU GLHVH XQYROOHQGHWHQ KDOEHQ 6FKZlQ]FKHQ±VHKHQ6LHGLHVHKLHU±QLFKWELOOLJHQDEHULP JDQ]HQ ± ZROOHQ 6LH GDUDXI DFKWHQ ± WULWW GRFK GDULQ HLQ EHVWLPPWHU &KDUDNWHU ]XWDJH XQG HV JXFNW RUGHQWOLFK GLH JDQ]H6HHOHGHV0LOLWlUVFKUHLEHUVKHUDXVVLHP|FKWHVLFKJHUQ IUHLHUJHKHQXQGGDV7DOHQWELWWHWXPGLH0|JOLFKNHLWVLFK]X EHWlWLJHQ DEHU GHU 8QLIRUPNUDJHQ LVW IHVW ]XJHKDNW GLH 'LV]LSOLQNRPPWDXFKLQGHU+DQGVFKULIW]XP$XVGUXFNHVLVW
]XP (QW]FNHQ (UVW NU]OLFK IUDSSLHUWH PLFK HLQ VROFKHV 0XVWHU ZHOFKHV LFK ]XIlOOLJ IDQG XQG ZR KDWWH LFK HV JHIXQGHQ" ,Q GHU 6FKZHL] 1XQ ZHLWHU +LHU LVW GLH HLQIDFKH JHZ|KQOLFKH JDQ] UHLQH HQJOLVFKH 6FKULIW GDV bXHUVWH DQ (OHJDQ] GD LVW DOOHV UHL]HQG SHUOHQDUWLJ JHUDGH]X YROOHQGHW $EHU GD LVW QRFK HLQH 9DULDWLRQ XQG ]ZDU ZLHGHU HLQH IUDQ]|VLVFKH LFK KDEH VLH HLQHP IUDQ]|VLVFKHQ &RPPLV YR\DJHXU HQWOHKQW HV LVW GLHVHOEH HQJOLVFKH 6FKULIW DEHU GLH *UXQGVWULFKHVLQGXPHLQH.OHLQLJNHLWGLFNHUXQGNUlIWLJHUDOV EHLGHUHQJOLVFKHQXQGJOHLFKLVWGDV9HUKlOWQLVYRQ/LFKWXQG 6FKDWWHQ JHVW|UW 8QG EHDFKWHQ 6LH QRFK GLHV GLH *HVWDOW GHU 2YDOH LVW JHlQGHUW VLH LVW HLQH .OHLQLJNHLW UXQGOLFKHU XQG DXHUGHP VLQG 6FKQ|UNHO ]XJHODVVHQ GHU 6FKQ|UNHO DEHU GDV LVW HLQ K|FKVW JHIlKUOLFKHV 'LQJ 'HU 6FKQ|UNHO YHUODQJW XQJHZ|KQOLFK JXWHQ *HVFKPDFN DEHU ZHQQ HU GDQQ JHOLQJW ZHQQGDVULFKWLJH9HUKlOWQLVJHWURIIHQLVWGDQQLVWHLQHVROFKH 6FKULIW DXFK PLW QLFKWV ]X YHUJOHLFKHQ PDQ N|QQWH VLFK JHUDGH]X LQ VLH YHUOLHEHQ© ª2KR ,Q ZDV IU 6XEWLOLWlWHQ JHUDWHQ 6LH GD KLQHLQ© ULHI GHU *HQHUDO ODFKHQG ª6LH VLQG MD JDU NHLQ JHZ|KQOLFKHU .DOOLJUDSK PHLQ %HVWHU 6LH VLQG HLQ .QVWOHU 1LFKW ZDKU *DQMD"© ª(UVWDXQOLFK© VDJWH *DQMD ª8QG6LHVLQGVLFKDXFKEHZXWZR]X6LHEHUXIHQVLQG©IJWH HUVS|WWLVFKODFKHQGKLQ]Xª/DFKHGXQXUODFKHGXQXU©VDJWH GHU *HQHUDO ªDEHU GLHVH )lKLJNHLW HU|IIQHW GHP )UVWHQ HLQH JXWH /DXIEDKQ :LVVHQ 6LH )UVW DQ ZDV IU KRKH 3HUV|QOLFKNHLWHQZLU6LHMHW]WZHUGHQ%ULHIHVFKUHLEHQODVVHQ" )QIXQGGUHLLJ 5XEHO NDQQ PDQ ,KQHQ JOHLFK YRQ YRUQKHUHLQ PRQDWOLFK JHEHQ $EHU HV LVW VFKRQ KDOE HLQV© XQWHUEUDFK HU VLFK PLW HLQHP %OLFN DXI GLH 8KU ª$OVR VFKQHOO ]XU 6DFKH )UVW GHQQ LFK PX PLFK EHHLOHQ XQG ZLU ZHUGHQ XQV KHXWH YLHOOHLFKW QLFKW PHKU VHKHQ 1HKPHQ 6LH HLQHQ $XJHQEOLFN 3ODW] LFK KDEH ,KQHQ VFKRQ JHVDJW GD LFK QLFKW LQ GHU /DJH ELQ6LHVHKURIW]XHPSIDQJHQDEHULFKZQVFKHYRQ+HU]HQ ,KQHQ HLQ ZHQLJ EHKLOIOLFK ]X VHLQ VHOEVWYHUVWlQGOLFK QXU HLQ
ZHQLJGDVKHLWZDVGDV1RWZHQGLJVWHDQODQJWGDQQZHUGHQ 6LH VLFK MD VHOEVW QDFK HLJHQHP %HOLHEHQ ZHLWHUKHOIHQ (LQH NOHLQH6WHOOHLQHLQHP%URZHUGHLFK,KQHQYHUVFKDIIHQNHLQH VHKUDQVWUHQJHQGHDEHUVLHZLUG3QNWOLFKNHLWYHUODQJHQ-HW]W HLQ :RUW EHU GDV :HLWHUH LQ GHP +DXVH GDV KHLW LQ GHU )DPLOLH*DZULOD$UGDOLRQRZLWVFK,ZROJLQVHEHQGLHVHVPHLQHV MXQJHQ )UHXQGHV PLW GHP LFK PLU HUODXEH 6LH EHNDQQW ]X PDFKHQ KDEHQ VHLQH 0XWWHU XQG VHLQH 6FKZHVWHU YRQ LKUHU :RKQXQJ ]ZHL RGHU GUHL P|EOLHUWH =LPPHU DEJH]ZHLJW XQG JHEHQ VLH DQ JXW HPSIRKOHQH 0LHWHU PLW %HN|VWLJXQJ XQG %HGLHQXQJDE$XIPHLQH(PSIHKOXQJKLQZLUGZLHLFKQLFKW ]ZHLIOH 1LQD $OH[DQGURZQD 6LH DXIQHKPHQ )U 6LH )UVW ZLUGGDVYRQDXHURUGHQWOLFKKRKHP:HUWVHLQVFKRQZHLO6LH GDQQQLFKWDOOHLQVHLQVRQGHUQVLFKVR]XVDJHQLP6FKRHHLQHU )DPLOLHEHILQGHQZHUGHQXQGPHLQHU$QVLFKWQDFKGUIHQ6LH EHL GHQ HUVWHQ 6FKULWWHQ LQ HLQHU VROFKHQ +DXSWVWDGW ZLH 3HWHUVEXUJ QLFKW DOOHLQ VHLQ 1LQD $OH[DQGURZQD *DZULOD $UGDOLRQ\WVFKV 0XWWHU XQG :DUZDUD $UGDOLRQRZQD VHLQH 6FKZHVWHU VLQG 'DPHQ GLH LFK VHKU KRFK VFKlW]H 1LQD $OH[DQGURZQD LVW GLH *HPDKOLQ $UGDOLRQ $OH[DQGURZLWVFKV HLQHVSHQVLRQLHUWHQ*HQHUDOVGHU]X%HJLQQPHLQHU'LHQVW]HLW PHLQ .DPHUDG ZDU PLW GHP LFK DEHU ZHJHQ JHZLVVHU 8PVWlQGH GLH %H]LHKXQJHQ DEJHEURFKHQ KDEH ZDV PLFK EULJHQVQLFKWKLQGHUWLKQJHEKUHQGKRFK]XDFKWHQ ,FKVHW]H ,KQHQ GLHV DOOHV DXVHLQDQGHU )UVW GDPLW 6LH VHKHQ GD LFK 6LH VR]XVDJHQ SHUV|QOLFK HPSIHKOH XQG IROJOLFK PLFK IU 6LH JHZLVVHUPDHQ YHUEUJH 'HU 3UHLV LVW HLQ VHKU PlLJHU XQG LFK KRIIH GD ,KU *HKDOW EDOG Y|OOLJ GD]X DXVUHLFKHQ ZLUG $OOHUGLQJV EUDXFKW PDQ DXFK 7DVFKHQJHOG ZHQLJVWHQV HWZDV DEHU QHKPHQ 6LH HV PLU QLFKW EHO )UVW ZHQQ LFK ,KQHQ EHPHUNH GD 6LH DP EHVWHQ WXQ DXI 7DVFKHQJHOG ]X YHU]LFKWHQ XQG EHUKDXSW NHLQ *HOG LQ GHU 7DVFKH EHL VLFK IKUHQ'DVLVWPHLQH$QVLFKWEHU6LHXQGGDUXPVDJHLFKHV ,KQHQ $EHU GD MHW]W ,KU *HOGEHXWHO JDQ] OHHU LVW VR JHVWDWWHQ
6LH PLU ,KQHQ GLHVH IQIXQG]ZDQ]LJ 5XEHO KLHU DQ]XELHWHQ :LU ZHUGHQ VFKRQ PLWHLQDQGHU DEUHFKQHQ XQG ZHQQ 6LH ZLUNOLFK HLQ VR DXIULFKWLJHU WUHXKHU]LJHU 0HQVFK VLQG ZLH HV QDFK ,KUHQ :RUWHQ VFKHLQW VR N|QQHQ VLFK DXFK LQ GLHVHU +LQVLFKW ]ZLVFKHQ XQV NHLQHUOHL 6FKZLHULJNHLWHQ HUJHEHQ :HQQLFKPLFKVRIU6LHLQWHUHVVLHUHVRKDEHLFKLQEH]XJDXI 6LH VRJDU HLQH EHVWLPPWH $EVLFKW 6LH ZHUGHQ GLHVH VSlWHU QRFK NHQQHQOHUQHQ 6LH VHKHQ LFK YHUNHKUH PLW ,KQHQ JDQ] ]ZDQJORV LFK KRIIH *DQMD GX KDVW QLFKWV GDJHJHQ GD VLFK GHU )UVW LQ HXUHU :RKQXQJ PLW HLQTXDUWLHUW"© ª2K JDQ] LP *HJHQWHLO $XFK PHLQH 0XWWHU ZLUG VLFK VHKU IUHXHQ © YHUVLFKHUWH *DQMD IUHXQGOLFK XQG ]XYRUNRPPHQG ª(V LVW EHL HXFK VRYLHO LFK ZHL HUVW HLQ =LPPHU YHUPLHWHW $Q GLHVHQ ZLH KHLW HU GRFK JOHLFK" )HUG )HU © ª)HUG\VFKWVFKHQNR ª1DMDHUJHIlOOWPLUQLFKWGLHVHUHXHU)HUG\VFKWVFKHQNR(LQ YXOJlUHU 3RVVHQUHLHU ,FK EHJUHLIH QLFKW ZDUXP 1DVWDVMD )LOLSSRZQDVLFKVHLQHUVRDQQLPPW,VWHUGHQQZLUNOLFKPLWLKU YHUZDQGW"© ª2 QHLQ GDV LVW DOOHV QXU 6FKHU] 9RQ 9HUZDQGWVFKDIWNHLQH6SXU©ª1DKROLKQGHU7HXIHO1DVLQG 6LH QXQ ]XIULHGHQ )UVW RGHU QLFKW"© ª,FK GDQNH ,KQHQ *HQHUDO 6LH KDEHQ DQ PLU DOV HLQ EHUDXV JXWHU 0HQVFK JHKDQGHOW ZDV XP VR PHKU DQ]XHUNHQQHQ LVW DOV LFK 6LH JDU QLFKW JHEHWHQ KDWWH ,FK VDJH GDV QLFKW DXV 6WRO] LFK ZXWH WDWVlFKOLFK QLFKW ZRKLQ LFK PHLQ +DXSW OHJHQ VROOWH $OOHUGLQJV KDW PLFK YRUKLQ 5RJRVKLQ ]X VLFK HLQJHODGHQ© ª5RJRVKLQ" $EHU QHLQ GD P|FKWH LFK ,KQHQ GRFK GHQ YlWHUOLFKHQ RGHU ZHQQ 6LH OLHEHU ZROOHQ GHQ IUHXQGVFKDIWOLFKHQ5DWJHEHQGLHVHQ +HUUQ5RJRVKLQ JDQ]]X YHUJHVVHQ 8QG EHUKDXSW ZUGH LFK ,KQHQ UDWHQ VLFK DQ GLH )DPLOLH ]X KDOWHQ LQ GLH 6LH HLQWUHWHQ ZHUGHQ© ª'D 6LH PLU VFKRQVRYLHO*WHHUZHLVHQ©EHJDQQGHU)UVWªVRP|FKWHLFK ,KQHQQRFKHLQH$QJHOHJHQKHLWGLHPLFKEHVFKlIWLJWYRUOHJHQ ,FK KDEH GLH 1DFKULFKW HUKDOWHQ © ª(QWVFKXOGLJHQ 6LH© XQWHUEUDFK LKQ GHU *HQHUDO ªMHW]W KDEH LFK ZLUNOLFK NHLQH
0LQXWH =HLW PHKU ,FK ZHUGH VRIRUW PHLQHU )UDX YRQ ,KQHQ EHULFKWHQ :HQQ VLH 6LH MHW]W JOHLFK ]X HPSIDQJHQ ZQVFKW PHLQHUVHLWV ZHUGH LFK PLFK EHPKHQ VLH GXUFK PHLQH (PSIHKOXQJ GD]X ]X EHZHJHQ VR UDWH LFK ,KQHQ GLH *HOHJHQKHLWDXV]XQXW]HQXQGVLFKLKUH*XQVW]XHUZHUEHQGD /LVDZHWD 3URNRIMHZQD ,KQHQ YRQ JURHP 1XW]HQ VHLQ NDQQ 6LH VLQG MD LKU 1DPHQVYHWWHU 8QG VROOWH VLH HV MHW]W QLFKW ZQVFKHQ VR QHKPHQ 6LH LKU GDV ZHLWHU QLFKW EHO VRQGHUQ NRPPHQ6LH]XDQGHUHU=HLWZLHGHU8QGGX*DQMDVLHKGRFK XQWHUGHVVHQGLHVH5HFKQXQJGXUFKPLWGHU)HGRVVHMHZXQGLFK XQV YRUKLQ DEJHTXlOW KDEHQ 9HUJL DEHU QLFKW VLH QDFKKHU ZHJ]XVFKOLHHQ© 'HU *HQHUDO JLQJ KLQDXV XQG VR NDP GHU )UVW QLFKW GD]X VHLQH $QJHOHJHQKHLW YRU]XEULQJHQ YRQ GHU HU HWZD ]XP YLHUWHQPDO ]X UHGHQ DQJHIDQJHQ KDWWH *DQMD EHJDQQ HLQH =LJDUHWWH]XUDXFKHQXQGERWDXFKGHP)UVWHQHLQHDQGLHVHU QDKP VLH YHUVXFKWH DEHU QLFKW HLQ *HVSUlFK LQ *DQJ ]X EULQJHQ XP QLFKW ]X VW|UHQ VRQGHUQ EHWUDFKWHWH GDV $UEHLWV]LPPHU*DQMDDEHUZDUINDXPHLQHQ%OLFNDXIGDVPLW =DKOHQ EHGHFNWH 3DSLHU DXI GDV LKQ GHU *HQHUDO KLQJHZLHVHQ KDWWH (U ZDU ]HUVWUHXW VHLQ /lFKHOQ VHLQ %OLFN VHLQ QDFKGHQNOLFKHV:HVHQPDFKWHQQDFK$QVLFKWGHV)UVWHQMHW]W ZR VLH EHLGH DOOHLQ JHEOLHEHQ ZDUHQ HLQHQ QRFK XQDQJHQHKPHUHQ (LQGUXFN 3O|W]OLFK WUDW HU DQ GHQ )UVWHQ KHUDQ GHU VLFK JHUDGH EHU 1DVWDVMD )LOLSSRZQDV 3RUWUlW JHEHXJW KDWWH XQG HV EHWUDFKWHWH ª$OVR JHIlOOW ,KQHQ HLQH VROFKH )UDX )UVW"© IUDJWH HU LQGHP HU LKQ GXUFKGULQJHQG DQVDK DOV KlWWH HU LUJHQGHLQH EHVRQGHUH $EVLFKW ª(LQ ZXQGHUEDU VFK|QHV *HVLFKW© DQWZRUWHWH GHU )UVW ª8QG LFK ELQ EHU]HXJW GD VLH HLQ XQJHZ|KQOLFKHV 6FKLFNVDO JHKDEW KDW 'DV *HVLFKW VLHKW KHLWHU DXV DEHU VLH KDW IUKHU ZRKO IXUFKWEDU JHOLWWHQ QLFKW" 'DYRQ UHGHQ GLH $XJHQ GRUW GLH EHLGHQ .Q|FKHOFKHQ GLH EHLGHQ 3XQNWH XQWHU GHQ $XJHQ ZR GLH :DQJHQ DQIDQJHQ (V LVW HLQ VWRO]HV *HVLFKW VFKUHFNOLFK
VWRO]XQGLFKZHLQLFKWREVLHHLQJXWHV+HU]KDW$FKZHQQ VLH HV GRFK KlWWH 'DQQ ZlUH DOOHV JHUHWWHW© ª:UGHQ 6LH GHQQ HLQH VROFKH )UDX KHLUDWHQ"© IUDJWH DQ MD ZHLWHU RKQH VHLQHQ EUHQQHQGHQ %OLFN DE]XZHQGHQ ª,FK NDQQ EHUKDXSW QLFKW KHLUDWHQ LFK ELQ NUDQN© YHUVHW]WH GHU )UVW ª$EHU 5RJRVKLQ ZUGH VLH KHLUDWHQ" :DV PHLQHQ 6LH"© ª*HZL ZRP|JOLFK JOHLFK PRUJHQ GHQNH LFK (U ZUGH VLH KHLUDWHQ XQGVLHHLQH:RFKHGDUDXIYLHOOHLFKWHUPRUGHQ© .DXP KDWWH GHU )UVW GLHV JHVDJW DOV *DQMD SO|W]OLFK VR ]XVDPPHQIXKU GD GHU )UVW EHLQDK DXIVFKULH ª:DV LVW ,KQHQ"© IUDJWH HU LQGHP HU LKQ EHL GHU +DQG HUJULII ª'XUFKODXFKW 6HLQH ([]HOOHQ] ODVVHQ ELWWHQ VLFK ]X ,KUHU ([]HOOHQ] ]X EHPKHQ© PHOGHWH HLQ 'LHQHU GHU LQ GHU 7U HUVFKLHQ 'HU)UVWJLQJKLQWHUGHP'LHQHUKHU
,9 'LH -HSDQWVFKLQVFKHQ 7RFKWHU ZDUHQ DOOH GUHL JHVXQGH EOKHQGHZRKOJHZDFKVHQHMXQJH'DPHQPLWJXWHQWZLFNHOWHU %UXVW XQG NUlIWLJHQ EHLQDK PlQQOLFKHQ $UPHQ XQG LQIROJH LKUHU .UDIW XQG *HVXQGKHLW OLHEWHQ VLH HV QDWUOLFK DXFK PDQFKPDO WFKWLJ ]X HVVHQ ZDV VLH JDU QLFKW ]X YHUEHUJHQ VXFKWHQ ,KUH 0DPD GLH *HQHUDOLQ /LVDZHWD 3URNRIMHZQD VFKQLWW EHU GHQ XQYHUKRKOHQHQ $SSHWLW GHU 7|FKWHU PLWXQWHU HLQ *HVLFKW DEHU GD YLHOH LKUHU $QVLFKWHQ WURW] DOOHQ lXHUHQ 5HVSHNWVPLWGHPVLHYRQGHQ.LQGHUQDXIJHQRPPHQZXUGHQ VFKRQ OlQJVW LKUH XUVSUQJOLFKH XQEHVWULWWHQH $XWRULWlW EHL GLHVHQYHUORUHQKDWWHQXQG]ZDULQHLQHP0DHGDHLQVLFK NRQVWLWXLHUHQGHV HLQPWLJHV .RQNODYH GHU GUHL 7|FKWHU
MHGHVPDO GHQ 6LHJ GDYRQWUXJ VR IDQG DXFK GLH *HQHUDOLQ LP ,QWHUHVVH LKUHU HLJHQHQ ZUGH HV ]ZHFNPlLJHU QLFKW HUVW ]X VWUHLWHQ VRQGHUQ JOHLFK QDFK]XJHEHQ $OOHUGLQJV KDWWH VLH LKUHP JDQ]HQ &KDUDNWHU QDFK RIW NHLQH 1HLJXQJ VLFK GHQ *HERWHQ GHU 9HUQXQIW XQWHU]XRUGQHQ XQG VLFK ]X IJHQ GHQQ /LVDZHWD3URNRIMHZQDZXUGH YRQ -DKU ]X -DKU ODXQLVFKHU XQG XQJHGXOGLJHU MD VRJDU HLQ ZHQLJ ZXQGHUOLFK DEHU GD LPPHU QRFK GHU VHKU JHKRUVDPH XQG ZRKOGUHVVLHUWH (KHPDQQ XQWHU LKUHU +HUUVFKDIW EOLHE VR HUJR VLFK ZDV DQ EHUVFKVVLJHP 0LPXWVLFKEHLLKUDQJHVDPPHOWKDWWH JHZ|KQOLFKEHUVHLQ +DXSW XQG GDPLW ZDU GDQQ GLH +DUPRQLH LQ GHU )DPLOLH ZLHGHUKHUJHVWHOOW XQG DOOHV JLQJ GHQ GHQNEDU EHVWHQ *DQJ hEULJHQV HUIUHXWH VLFK DXFK GLH *HQHUDOLQ VHOEVW HLQHV JXWHQ $SSHWLWV XQG QDKP JHZ|KQOLFK XP KDOE HLQV PLW LKUHQ 7|FKWHUQ ]XVDPPHQ DQ HLQHP UHLFKOLFKHQ )UKVWFN WHLO GDV EDOG HLQHU 0LWWDJVPDKO]HLW JOHLFKNDP (LQH 7DVVH .DIIHH WUDQNHQ GLH MXQJHQ 'DPHQ VFKRQ YRUKHU 3XQNW ]HKQ 8KU LP %HWW JOHLFK QDFK GHP $XIZDFKHQ 'DV ZDU LKQHQ HLQH OLHEH *HZRKQKHLW XQG HLQ IU DOOHPDO VR IHVWJHVHW]W 8P KDOE HLQV DEHU ZXUGH GHU 7LVFK LQ GHP NOHLQHQ (]LPPHU QHEHQ GHQ =LPPHUQ GHU 0XWWHU JHGHFNW XQG ]X GLHVHP )UKVWFN LP HQJVWHQ )DPLOLHQNUHLVH HUVFKLHQ PDQFKPDO DXFK GHU *HQHUDO VHOEVW ZHQQ VHLQH =HLW HV HUODXEWH $XHU 7HH .DIIHH .lVH +RQLJ %XWWHU .RWHOHWWV XQG HLQHU EHVRQGHUHQ $UW YRQ 3IDQQNXFKHQ GLH GLH *HQHUDOLQ VHOEVW VHKU JHUQ D ZXUGH VWDUNH KHLH %RXLOORQ VHUYLHUW $Q GHP 0RUJHQ DQ GHP XQVHUH (U]lKOXQJ EHJRQQHQ KDW ZDU GLH JDQ]H )DPLOLH LP (]LPPHU YHUVDPPHOW XQG ZDUWHWH DXI GHQ *HQHUDO GHU YHUVSURFKHQ KDWWH XP KDOE HLQV ]X HUVFKHLQHQ +lWWH HU VLFK DXFK QXU XP HLQH 0LQXWH YHUVSlWHW VR ZlUH VRIRUW QDFK LKP JHVFKLFNW ZRUGHQ DEHU HU HUVFKLHQ SQNWOLFK $OV HU DQ VHLQH )UDXKHUDQWUDWXPVLH]XEHJUHQXQGLKUGLH+DQG]XNVVHQ EHPHUNWHHUGLHVPDOLQLKUHP*HVLFKWHWZDVJDQ]%HVRQGHUHV 8QG REJOHLFK HU VFKRQ DP YRUKHUJHKHQGHQ $EHQG HLQ
9RUJHIKO JHKDEW KDWWH GD KHXWH ZHJHQ HLQHU JHZLVVHQ ª*HVFKLFKWH© VR SIOHJWH HU VHOEVW VLFK DXV]XGUFNHQ HWZDV NRPPHQ ZHUGH XQG VFKRQ JHVWHUQ EHLP (LQVFKODIHQ XQUXKLJ JHZHVHQZDUVREHNDPHUHVGRFKMHW]WZLHGHUPLWGHU $QJVW ]XWXQ'LH7|FKWHUWUDWHQDQLKQKHUDQXPLKQ]XNVVHQXQG REZRKO VLH LKQ NHLQHVZHJV E|VH DQVDKHQ VR JODXEWH HU GRFK DXFK LQ LKUHQ *HVLFKWHUQ HLQHQ HLJHQWPOLFKHQ $XVGUXFN ZDKU]XQHKPHQ $OOHUGLQJV ZDU GHU *HQHUDO LQIROJH JHZLVVHU IUKHUHU 9RUIlOOH DOO]X DUJZ|KQLVFK JHZRUGHQ DEHU DOV HUIDKUHQHU XQG OHEHQVNOXJHU 9DWHU XQG *DWWH HUJULII HU VRIRUW VHLQH0DQDKPHQ 9LHOOHLFKW YHUGHUEHQ ZLU GDV 5HOLHI XQVHUHU (U]lKOXQJ QLFKW DOO]XVHKU ZHQQ ZLU MHW]W KDOWPDFKHQ XQG GXUFK HLQLJH KLOIUHLFKH%HPHUNXQJHQHLQHZDKUKDIWHXQGJHQDXH(UNOlUXQJ GHUJHJHQVHLWLJHQ%H]LHKXQJHQXQGGHU9HUKlOWQLVVHJHEHQLQ GHQHQ ZLU GLH )DPLOLH GHV *HQHUDOV -HSDQWVFKLQ EHLP %HJLQQ XQVHUHU *HVFKLFKWH YRUILQGHQ :LU KDEHQ EHUHLWV REHQ JHVDJW GD GHU *HQHUDO ]ZDU NHLQ VHKU JHELOGHWHU VRQGHUQ ZLH HU VHOEVW VLFK DXVGUFNWH QXU HLQ ªVHOEVWXQWHUULFKWHWHU© 0DQQ GDEHL DEHU GRFK HLQ HUIDKUHQHU *DWWH XQG OHEHQVNOXJHU 9DWHU ZDU 8QWHU DQGHUP KDWWH HU HV VLFK ]XP *UXQGVDW] JHPDFKW VHLQH7|FKWHUQLFKW]XP+HLUDWHQ]XGUlQJHQDOVRLKQHQQLFKW VWlQGLJ]X]XVHW]HQXQGVLHPLWVHLQHUYlWHUOLFKHQ6RUJHXPLKU /HEHQVJOFN ]X TXlOHQ ZLH GDV XQZLOONUOLFK XQG QDWUOLFKHUZHLVH IRUWZlKUHQG VHOEVW LQ GHQ YHUVWlQGLJVWHQ )DPLOLHQ JHVFKLHKW LQ GHQHQ VLFK HUZDFKVHQH 7|FKWHU DQVDPPHOQ (U KDWWH HV VRJDU HUUHLFKW GD /LVDZHWD 3URNRIMHZQDFKLQ 6\VWHP DN]HSWLHUWH REJOHLFK HV LKP VFKZHU JHQXJJHZRUGHQZDUVFKZHUGHVZHJHQZHLOGLHVHV9HUIDKUHQ HEHQ HLQ XQQDWUOLFKHV LVW DEHU GLH $UJXPHQWH GHV *HQHUDOV ZDUHQ GRFK lXHUVW JHZLFKWLJ XQG VWW]WHQ VLFK DXI JUHLIEDUH 7DWVDFKHQ (U VDJWH 0lGFKHQ GLH PDQ LQ GLHVHU +LQVLFKW Y|OOLJXQEHKHOOLJWODVVHPWHQQDWXUJHPlHLQPDO]XHUQVWHP 1DFKGHQNHQ NRPPHQ XQG GDQQ JHKH GLH 6DFKH VFKQHOO
YRQVWDWWHQZHLOVLHVLHPLW(LIHUEHWULHEHQXQGDOOH/DXQHQXQG EHUIOVVLJHQ 0lNHOHLHQ EHLVHLWH OLHHQ 'LH (OWHUQ KlWWHQ GDQQ ZHLWHU QLFKWV ]X WXQ DOV XQDEOlVVLJ XQG P|JOLFKVW XQPHUNEDU GDUEHU ]X ZDFKHQ GD HV QLFKW ]X HLQHU DEVRQGHUOLFKHQ:DKORGHUXQQDWUOLFKHQ1HLJXQJNRPPHXQG GDQQQDFK$ESDVVXQJGHVULFKWLJHQ$XJHQEOLFNVPLWHLQHPPDO NUlIWLJ QDFK]XKHOIHQ XQG GLH 6DFKH XQWHU $XIELHWXQJ DOOHU +LOIVPLWWHO LQ 2UGQXQJ ]X EULQJHQ 6FKOLHOLFK ZDU DXFK ]X HUZlJHQGDGDV9HUP|JHQXQGGLHJHVHOOVFKDIWOLFKH6WHOOXQJ GHU *HQHUDOVIDPLOLH YRQ -DKU ]X -DKU LQ JHRPHWULVFKHU 3URJUHVVLRQ VWLHJ MH PHKU =HLW DOVR YHUJLQJ XP VR JQVWLJHU JHVWDOWHWHQ VLFK DXFK GLH +HLUDWVDXVVLFKWHQ GHU 7|FKWHU $EHU PLWWHQXQWHUDOOGLHVHXQEHVWUHLWEDUHQ7DWVDFKHQWUDWQRFKHLQH DQGHUH 7DWVDFKH GLH lOWHVWH 7RFKWHU $OH[DQGUD YROOHQGHWH SO|W]OLFK XQG IDVW JDQ] XQHUZDUWHW ZLH GDV LPPHU VR ]X JHVFKHKHQ SIOHJW GDV IQIXQG]ZDQ]LJVWH /HEHQVMDKU )DVW ]X GHUVHOEHQ=HLWVSUDFK$IDQDVVLM,ZDQRZLWVFK7R]NLMHLQ0DQQ DXV GHQ K|FKVWHQ *HVHOOVFKDIWVNUHLVHQ PLW YRUWUHIIOLFKHQ 9HUELQGXQJHQ XQG DXHURUGHQWOLFK UHLFK ZLHGHU VHLQHQ ODQJJHKHJWHQ :XQVFK DXV ]X KHLUDWHQ (U ZDU IQIXQGIQI]LJ -DKUH DOW XQG EHVD HLQHQ DXVJH]HLFKQHWHQ &KDUDNWHU VRZLH HLQHQ XQJHZ|KQOLFK IHLQHQ *HVFKPDFN (U ZROOWH VLFK JXW YHUKHLUDWHQ HU ZDU HLQ YRU]JOLFKHU .HQQHU ZHLEOLFKHU 6FK|QKHLW'DHUVHLWHLQLJHU=HLWPLWGHP*HQHUDO-HSDQWVFKLQ HQJ EHIUHXQGHW ZDU ZR]X LKUH EHLGHUVHLWLJH 7HLOQDKPH DQ JHZLVVHQ ILQDQ]LHOOHQ 8QWHUQHKPXQJHQ ZHVHQWOLFK EHLWUXJ VR ULFKWHWH HU DQ GLHVHQ JHZLVVHUPDHQ PLW GHU %LWWH XP IUHXQGVFKDIWOLFKHQ 5DW XQG $QOHLWXQJ GLH )UDJH RE HU HLQHU VHLQHU 7|FKWHU HLQHQ +HLUDWVDQWUDJ PDFKHQ GUIH 'LHV IKUWH LQGHPELVKHUVRVWLOOXQGVFK|QYHUODXIHQHQ)DPLOLHQOHEHQGHV *HQHUDOV-HSDQWVFKLQHLQHQVLFKWEDUHQ8PVFKZXQJKHUEHL 8QEHVWULWWHQ GLH 6FK|QVWH LQ GHU )DPLOLH ZDU ZLH VFKRQ JHVDJW GLH -QJVWH $JODMD $EHU VRJDU 7R]NLM VHOEVW PXWH VLFKWURW]VHLQHVVWDUNHQ6HOEVWJHIKOVVDJHQGDHUKLHUQLFKW
DQNORSIHQ GUIH XQG GD $JODMD YRP 6FKLFNVDO QLFKW IU LKQ EHVWLPPW VHL 9LHOOHLFKW JLQJ GLH EOLQGH /LHEH XQG DOO]X JOKHQGH )UHXQGVFKDIW GHU 6FKZHVWHUQ KLHU DOO]X ZHLW MHGHQIDOOV ZDUHQ VLH VLFK VFKRQ LP YRUDXV LQ DXIULFKWLJHU hEHU]HXJXQJ GDUEHU HLQLJ GD $JODMDV 6FKLFNVDO QLFKW YRQ JHZ|KQOLFKHU $UW VRQGHUQ GDV GHQNEDU VFK|QVWH ,GHDO HLQHV LUGLVFKHQ 3DUDGLHVHV VHLQ PVVH $JODMDV NQIWLJHU 0DQQ PVVH YRP 5HLFKWXP JDQ] DEJHVHKHQ DOOH HUGHQNOLFKHQ 9RU]JHXQG(UIROJHLQVLFKYHUHLQLJHQ'LH6FKZHVWHUQKDWWHQ VLFK VRJDU XQG ]ZDU RKQH YLHO :RUWH ]X PDFKHQ GDKLQ JHHLQLJW ZHQQ HV Q|WLJ VHLQ VROOWH LKUHUVHLWV ]X $JODMDV *XQVWHQ HLQ 2SIHU ]X EULQJHQ $JODMD VROOWH HLQH NRORVVDOH 0LWJLIW HUKDOWHQ HLQH HUKHEOLFK JU|HUH DOV VLH EHLGH 'LH (OWHUQ ZXWHQ YRQ GLHVHU hEHUHLQNXQIW GHU EHLGHQ lOWHUHQ 6FKZHVWHUQ XQG KHJWHQ GDKHU DOV 7R]NLM MHQH %LWWH XP 5DW DXVVSUDFK IDVW NHLQHQ =ZHLIHO GD HLQH GHU EHLGHQ lOWHUHQ 6FKZHVWHUQ GLH HOWHUOLFKHQ :QVFKH HUIOOHQ ZUGH XP VR PHKU DOV YRQ $IDQDVVLM ,ZDQRZLWVFKV 6HLWH 6FKZLHULJNHLWHQ EH]JOLFK GHU 0LWJLIW XQP|JOLFK ]X HUZDUWHQ ZDUHQ 7R]NLMV $QWUDJ KDWWH GHU *HQHUDO VHOEVW PLW GHU LKP HLJHQHQ /HEHQVNOXJKHLWVRIRUWDOVDXHURUGHQWOLFKZHUWYROOHUNDQQW'D DEHU7R]NLMVHOEVWYRUOlXILJDXVJHZLVVHQEHVRQGHUHQ*UQGHQ LQ VHLQHP 9RUJHKHQ GLH DOOHUJU|WH 9RUVLFKW EHREDFKWHWH XQG ]XQlFKVW QXU GHQ %RGHQ VRQGLHUWH VR KDWWHQ DXFK GLH (OWHUQ GHQ7|FKWHUQELVKHUQXUJDQ]YDJH$QGHXWXQJHQJHPDFKW$OV $QWZRUW KDWWHQ VLH YRQ LKQHQ GLH JOHLFKIDOOV QLFKW JDQ] EHVWLPPWH DEHU GRFK ZHQLJVWHQV EHUXKLJHQGH (UNOlUXQJ HUKDOWHQ GD GLH bOWHVWH $OH[DQGUD ZRKO QLFKW QHLQ VDJHQ ZUGH 6LH ZDU HLQ ]ZDU FKDUDNWHUIHVWHV DEHU GDEHL GRFK JXWKHU]LJHVYHUVWlQGLJHV XQG VHKU YHUWUlJOLFKHV 0lGFKHQ VLH ZlUH VRJDU JDQ] JHUQ 7R]NLMV )UDX JHZRUGHQ XQG ZHQQ VLH HLQPDOLKU:RUWJHJHEHQKlWWHVRKlWWHVLHHVHKUOLFKJHKDOWHQ *ODQ]XQG3UDFKWOLHEWHVLHQLFKWLKU0DQQKDWWHYRQLKUNHLQH VWHWHQ 6RUJHQ NHLQH VFKURIIH 6LQQHVlQGHUXQJ ]X EHIUFKWHQ
VLH NRQQWH LKP VRJDU HLQ DQJHQHKPHV UXKLJHV /HEHQ YHUVFKDIIHQ ,KUH lXHUH (UVFKHLQXQJ ZDU VHKU KEVFK ZHQQ DXFKQLFKW JHUDGH DXIVHKHQHUUHJHQG:RNRQQWH HV IU 7R]NLM HLQHEHVVHUH)UDXJHEHQ" 8QG GRFK NDP GLH 6DFKH QXU lXHUVW ODQJVDP YRP )OHFN 7R]NLMXQGGHU*HQHUDOZDUHQEHLGHUVHLWVLQDOOHU)UHXQGVFKDIW ]X GHP (QWVFKOX JHODQJW YRUOlXILJ MHGHQ IRUPHOOHQ XQZLGHUUXIOLFKHQ 6FKULWW ]X XQWHUODVVHQ 6HOEVW GLH (OWHUQ VSUDFKHQPLWGHQ7|FKWHUQ LPPHU QRFK QLFKW JDQ] RIIHQ EHU GLH$QJHOHJHQKHLWYLHOPHKUKDWWHVLFKHLQH$UWYRQ'LVVRQDQ] KHUDXVJHELOGHW GLH 0XWWHU GLH *HQHUDOLQ -HSDQWVFKLQD ZDU DXV HLQHP JHZLVVHQ *UXQGH XQ]XIULHGHQ JHZRUGHQ XQG GDV ZDU GRFK YRQ JURHU :LFKWLJNHLW (V ODJ GD HLQ KLQGHUOLFKHU 8PVWDQGYRUHLQHYHUZLFNHOWHZLGHUZlUWLJH6DFKHGXUFKGLH GDV JDQ]H 3URMHNW P|JOLFKHUZHLVH XQZLHGHUEULQJOLFK ]XP 6FKHLWHUQJHEUDFKWZUGH 'LHVHUYHUZLFNHOWHZLGHUZlUWLJHª.DVXV©ZLH7R]NLMVHOEVW VLFK DXVGUFNWH UHLFKWH LQ VHLQHQ $QIlQJHQ VHKU ZHLW HWZD DFKW]HKQ -DKUH ]XUFN ,Q GHU 1lKH GHV VHKU JURHQ HUWUDJUHLFKHQ *XWHV GDV $IDQDVVLM ,ZDQRZLWVFK LQ HLQHP GHU PLWWOHUHQ *RXYHUQHPHQWV EHVD OHEWH GDPDOV HLQ NOHLQHU *XWVEHVLW]HUK|FKVWNPPHUOLFKXQGLQJURHU$UPXW(VZDU PHUNZUGLJZLHYLHO8QJOFNGHU0DQQXQXQWHUEURFKHQKDWWH PDQHU]lKOWHVLFKGDUEHUZXQGHUOLFKH*HVFKLFKWHQ(UZDUHLQ SHQVLRQLHUWHU 2IIL]LHU DXV JXWHU $GHOVIDPLOLH ZRGXUFK HU YRU 7R]NLM VRJDU HWZDV YRUDXVKDWWH HLQ JHZLVVHU )LOLSS $OH[DQGURZLWVFK %DUDVFKNRZ 2EJOHLFK HU WLHI LQ 6FKXOGHQ JHVWHFNWKDWWHXQGVHLQHJDQ]H+DEHKDWWHYHUSIlQGHQPVVHQ ZDUHVLKPHQGOLFKQDFKGHPHUZLHHLQ%DXHUMDIDVWZLHHLQ =XFKWKlXVOHU JHDUEHLWHW KDWWH JHOXQJHQ VHLQH NOHLQH :LUWVFKDIW ZLHGHU OHLGOLFK LQ 2UGQXQJ ]X EULQJHQ 6HOEVW GHU NOHLQVWH (UIROJ KDWWH GLH :LUNXQJ LKP QHXH 6SDQQNUDIW ]X YHUOHLKHQ *XWHQ 0XWHV GLH %UXVW YRQ +RIIQXQJ JHVFKZHOOW YHUOLH HU HLQPDO VHLQ *XW XP DXI HLQLJH 7DJH LQ GLH
.UHLVVWDGW ]X IDKUHQ ZR HU HLQHQ VHLQHU +DXSWJOlXELJHU EHVXFKHQ XQG VLFK ZRP|JOLFK HQGJOWLJ PLW LKP HLQLJHQ ZROOWH $EHU DP GULWWHQ 7DJ QDFK VHLQHU $QNXQIW LQ GHU 6WDGW NDP GHU 6FKXO]H DXV VHLQHP '|UIFKHQ PLW YHUEUDQQWHU %DFNH XQG YHUVHQJWHP %DUW EHL LKP DQJHULWWHQ XQG PHOGHWH GD DP YRUKHUJHKHQGHQ 7DJ JHUDGH XP 0LWWDJ GDV 'RUI XQG GLH VlPWOLFKHQ *XWVJHElXGH DEJHEUDQQW VHLHQ GDEHL VHL DXFK GLH *HPDKOLQ GHV *XWVEHVLW]HUV XPV /HEHQ JHNRPPHQ ZlKUHQG GLH .LQGHUFKHQ XQYHUVHKUW JHEOLHEHQ VHLHQ 'LHVHQ %OLW] DXV KHLWHUHP+LPPHONRQQWHVHOEVW%DUDVFKNRZZLHVHKUHUDXFK DQ KDUWH 6FKLFNVDOVVFKOlJH JHZ|KQW ZDU QLFKW HUWUDJHQ HU YHUORU GHQ 9HUVWDQG XQG VWDUE HLQHQ 0RQDW GDUDXI LP 'HOLULXP 'DV DEJHEUDQQWH *XW GHVVHQ %DXHUQ LQ DOOH YLHU :LQGH DXVHLQDQGHUJHODXIHQ ZDUHQ NDP XQWHU GHQ +DPPHU ZDV GLH EHLGHQ NOHLQHQ .LQGHU %DUDVFKNRZV DQODQJWH HLQ VHFKVMlKULJHVXQGHLQVLHEHQMlKULJHV0lGFKHQVREHUQDKPHV $IDQDVVLM,ZDQRZLWVFK7R]NLMJURPWLJHUZHLVHVLHDXIVHLQH .RVWHQHU]LHKHQ]XODVVHQ6LHZXUGHQPLWGHQ.LQGHUQVHLQHV 9HUZDOWHUV HLQHV YHUDEVFKLHGHWHQ %HDPWHQ PLW ]DKOUHLFKHU )DPLOLH HLQHV 'HXWVFKHQ ]XVDPPHQ HU]RJHQ %DOG GDUDXI EOLHEQXUGDVHLQHGHUEHLGHQ0lGFKHQ1DVWDVMDEULJGDGLH -QJHUH DP .HXFKKXVWHQ VWDUE 7R]NLM GHU LP $XVODQG OHEWH KDWWH GLH EHLGHQ EDOG JDQ] XQG JDU YHUJHVVHQ )QI -DKUH GDUDXI JHGDFKWH $IDQDVVLM ,ZDQRZLWVFK VLFK HLQPDO DXI GHU 'XUFKUHLVH VHLQ *XW DQ]XVHKHQ XQG EHPHUNWH SO|W]OLFK LQ VHLQHP *XWVKDXV LQ GHU )DPLOLH VHLQHV GHXWVFKHQ 9HUZDOWHUV HLQ UHL]HQGHV .LQG HLQ ]Z|OIMlKULJHV PXQWHUHV OLHEHQVZUGLJHV YHUVWlQGLJHV 0lGFKHQ GDV DXHURUGHQWOLFK VFK|Q ]X ZHUGHQ YHUVSUDFK LQ GLHVHU +LQVLFKW ZDU $IDQDVVLM ,ZDQRZLWVFK HLQ .HQQHU GHU VLFK QLFKW OHLFKW LUUWH 'LHVPDO EOLHE HU QXU HLQLJH 7DJH DXI GHP *XW IDQG DEHU GRFK =HLW DOOHUOHL $QRUGQXQJHQ ]X WUHIIHQ ,Q GHU (U]LHKXQJ GHV MXQJHQ 0lGFKHQV WUDW HLQH ZHVHQWOLFKH 9HUlQGHUXQJ HLQ HV ZXUGH HLQH UHVSHNWDEOH lOWHUH *RXYHUQDQWH DQJHQRPPHQ HLQH
JHELOGHWH 6FKZHL]HULQ GLH LP K|KHUHQ 0lGFKHQXQWHUULFKW (UIDKUXQJEHVDXQGDXHULQGHUIUDQ]|VLVFKHQ6SUDFKHDXFK QRFKLQPHKUHUHQ:LVVHQVFKDIWHQ8QWHUULFKWJHEHQNRQQWH6LH ]RJ LQ GDV *XWVKDXV HLQ XQG GLH JHLVWLJH $XVELOGXQJ GHU NOHLQHQ1DVWDVMDHUKLHOWQXQHLQHQJU|HUHQ8PIDQJ1DFKYLHU -DKUHQ ZDU GLHVH $XVELOGXQJ EHHQGHW XQG GLH *RXYHUQDQWH UHLVWHZLHGHUDE'DIUDEHUNDPXP1DVWDVMDDE]XKROHQHLQH 'DPH DQ ZHOFKH HEHQIDOOV HLQH *XWVEHVLW]HULQ XQG *XWVQDFKEDULQ 7R]NLMV ZDU DEHU LQ HLQHP DQGHUQ HQWIHUQWHQ *RXYHUQHPHQW GLHVH QDKP LQ $IDQDVVLM ,ZDQRZLWVFKV $XIWUDJ XQG YRQ LKP EHYROOPlFKWLJW GLH NOHLQH 1DVWDVMD PLW VLFK$XIGLHVHPNOHLQHQ7R]NLMVFKHQ*XWIDQGVLFKJOHLFKIDOOV HLQ ]ZDU QXU NOHLQHV DEHU VRHEHQ HUVW HUEDXWHV +RO]KDXV HV ZDU DXHURUGHQWOLFK JHVFKPDFNYROO HLQJHULFKWHW XQG GDV '|UIFKHQIKUWHZLHDEVLFKWOLFKGHQ1DPHQª2WUDGQRMH© 'LH *XWVEHVLW]HULQ EUDFKWH 1DVWDVMD GLUHNW LQ GLHVHV VWLOOH +lXVFKHQ XQG GD VLH VHOEVW HLQH NLQGHUORVH :LWZH QXU HLQH :HUVWGDYRQHQWIHUQWZRKQWHVRVLHGHOWHDXFKVLH]X1DVWDVMD EHU $XFK HLQH DOWH +DXVKlOWHULQ XQG HLQH MXQJH ZRKOHUIDKUHQH=RIHVWHOOWHQVLFKEHL1DVWDVMDHLQ,QGHP+DXV IDQGHQ VLFK 0XVLNLQVWUXPHQWH HLQH HUOHVHQH 0lGFKHQELEOLRWKHN *HPlOGH .XSIHUVWLFKH %OHLVWLIWH 3LQVHO )DUEHQ HLQ ZXQGHUKEVFKHV :LQGVSLHO XQG QDFK ]ZHL :RFKHQWUDIDXFK$IDQDVVLM,ZDQRZLWVFKVHOEVWHLQ9RQGHU =HLW DQ KDWWH HU GLHVHV LKP JHK|ULJH 6WHSSHQG|UIFKHQ JDQ] EHVRQGHUV LQ VHLQ +HU] JHVFKORVVHQ HU EHVXFKWH HV MHGHQ 6RPPHUXQGZRKQWHGRUWHWZD]ZHLVHOEVWGUHL0RQDWHODQJ 6R YHUJLQJ HLQH ]LHPOLFK ODQJH =HLW ZRKO YLHU -DKUH UXKLJHQ XQGJOFNOLFKHQVFK|QHQXQGJHQXUHLFKHQ/HEHQV (LQHV7DJHV±HVZDU]X$QIDQJGHV:LQWHUVXQJHIlKUYLHU 0RQDWH QDFKGHP $IDQDVVLM ,ZDQRZLWVFK LP 6RPPHU ZLHGHU LQ ª2WUDGQRMH© ]X %HVXFK JHZHVHQ ZDU ZR HU VLFK MHGRFK GLHVPDO QXU YLHU]HKQ 7DJH DXIJHKDOWHQ KDWWH ± HUHLJQHWH HV
ª)UHXGHQGRUI©
VLFK GD LUJHQGZLH ]X 1DVWDVMD )LOLSSRZQDV 2KUHQ HLQ *HUFKW GUDQJ GD $IDQDVVLM ,ZDQRZLWVFK LQ 3HWHUVEXUJ LP %HJULII VHL HLQH VFK|QH UHLFKH YRUQHKPH 'DPH ]X KHLUDWHQ NXU] HLQH VROLGH JOlQ]HQGH 3DUWLH ]X PDFKHQ (V VWHOOWH VLFK GDQQKHUDXVGDGLHVHV*HUFKWQLFKWLQDOOHQ(LQ]HOKHLWHQPLW GHU :LUNOLFKNHLW EHUHLQVWLPPWH GLH +HLUDW ZDU HUVW LQ $XVVLFKW JHQRPPHQ XQG DOOHV QRFK VHKU XQEHVWLPPW DEHU LQ 1DVWDVMD)LOLSSRZQDV:HVHQJLQJVHLWGHPGRFKHLQHJHZDOWLJH :DQGOXQJ YRU 6LH ]HLJWH DXI HLQPDO HLQH JURH (QWVFKORVVHQKHLW XQG OHJWH HLQH JDQ] XQHUZDUWHWH (QHUJLH DQ GHQ 7DJ 2KQH VLFK ODQJH ]X EHVLQQHQ YHUOLH VLH LKU NOHLQHV *XWVKDXV UHLVWH Y|OOLJ DOOHLQ QDFK 3HWHUVEXUJ XQG EHJDE VLFK GRUW JHUDGHVZHJV ]X 7R]NLM 'LHVHU ZDU lXHUVW HUVWDXQW XQG ILQJDQPLWLKU]XUHGHQDEHUIDVWYRPHUVWHQ:RUWDQVWHOOWH HV VLFK KHUDXV GD HU GLH JDQ]H $UW LQ GHU HU VRQVW PLW LKU JHUHGHW KDWWH DQGHUQ PXWH GLH $XVGUXFNVZHLVH GHQ 6WLPPNODQJ GLH ELVKHU VR HUIROJUHLFK EHQXW]WHQ 7KHPHQ QHWWHU DQJHQHKPHU *HVSUlFKH GLH )RUP GHU ORJLVFKHQ 6FKOXIROJHUXQJHQ NXU] DOOHV DOOHV DOOHV 9RU LKP VD HLQ JDQ]DQGHUHVZHLEOLFKHV:HVHQGDVNHLQHUOHLbKQOLFKNHLWPLW GHPMHQLJHQ KDWWH GDV HU ELVKHU JHNDQQW XQG HUVW LP -XOL LQ ª2WUDGQRMH©YHUODVVHQKDWWH (UVWHQV ZXWH XQG YHUVWDQG GLHVHV QHXH :HLE ZLH VLFK KHUDXVVWHOOWH DXHURUGHQWOLFK YLHO VR YLHO GD PDQ K|FKVW HUVWDXQWVHLQPXWHZLHVLHHVP|JOLFKJHPDFKWKDWWHVLFKHLQ VROFKHV:LVVHQDQ]XHLJQHQXQGVLFKVRNODUH$QVFKDXXQJHQ]X HUDUEHLWHQ +DWWH LKU ZLUNOLFK LKUH 0lGFKHQELEOLRWKHN GD]X YHUKROIHQ" 8QGGDPLWQLFKWJHQXJVLHYHUVWDQGDXFKVHKUYLHO YRQ MXULVWLVFKHQ 'LQJHQ XQG EHVD VLFKHUH .HQQWQLVVH ZHQQ DXFK QLFKW YRQ GHU PHQVFKOLFKHQ *HVHOOVFKDIW VR GRFK YRQ GHP *DQJ GHQ JHZLVVH 'LQJH LQ GHU PHQVFKOLFKHQ *HVHOOVFKDIW QHKPHQ =ZHLWHQV DEHU KDWWH VLFK LKU &KDUDNWHU JHJHQIUKHUYROOVWlQGLJJHlQGHUWHVZDUNHLQH5HGHPHKUYRQ MHQHP VFKFKWHUQHQ XQVLFKHUHQ 0lGFKHQW\S GHU EDOG GXUFK
VHLQH RULJLQHOOH 0XQWHUNHLW XQG 1DLYLWlW EH]DXEHUW EDOG WUE XQGPHODQFKROLVFKHUVWDXQWXQGPLWUDXLVFKXQUXKLJXQG]XP :HLQHQJHQHLJWLVW 1HLQ GLHMHQLJH GLH LKP GD LQV *HVLFKW ODFKWH XQG LKQ PLW EHLHQGHP6SRWWYHUZXQGHWHZDUHLQIUHPGHVEHUUDVFKHQGHV :HVHQ 1DVWDVMD HUNOlUWH LKP JHUDGH]X VLH KDEH LKP JHJHQEHU LQ LKUHP +HU]HQ QLH HWZDV DQGHUHV HPSIXQGHQ DOV WLHIVWH9HUDFKWXQJGLHVHVELV]XP(NHOJHVWHLJHUWH*HIKOVHL EHL LKU JOHLFK QDFK GHP HUVWHQ (UVWDXQHQ HLQJHWUHWHQ 'LHVHV QHXH :HLE HUNOlUWH LKP HV VHL LKU HLJHQWOLFK YROOVWlQGLJ JOHLFKJOWLJREHUVLFKMHW]WYHUKHLUDWHXQGPLWZHPDEHUGRFK VHL VLH KHUJHNRPPHQ XP LKP GLHVH +HLUDW ]X YHUELHWHQ XQG ]ZDU HLQIDFK DXV %RVKHLW HLQ]LJ XQG DOOHLQ ZHLO HV LKU VR JHIDOOH XQG IROJOLFK PVVH HV QXQ VR VHLQ ª8QG ZDU¶V DXFK QXU GDPLW LFK EHU GLFK ODFKHQ NDQQ VRYLHO LFK ZLOO© VDJWH VLH ªGHQQ MHW]W KDEH DXFK LFK VFKOLHOLFK /XVW EHNRPPHQ ]X ODFKHQ© 6RZHQLJVWHQVGUFNWHVLHVLFKDXVYLHOOHLFKWKDWWHVLHGDPLW QLFKW HLQPDO DOOHV ZDV VLH GDFKWH DXVJHVSURFKHQ $EHU ZlKUHQG GLH QHXH 1DVWDVMD )LOLSSRZQD K|KQLVFK ODFKWH XQG LKP DOO GLHV DXVHLQDQGHUVHW]WH EHUGDFKWH $IDQDVVLM ,ZDQRZLWVFK GLHVH $QJHOHJHQKHLW IU VLFK XQG EUDFKWH VHLQH HLQ ZHQLJ GXUFKHLQDQGHUJHZRUIHQHQ *HGDQNHQ QDFK 0|JOLFKNHLW ZLHGHU LQ 2UGQXQJ 'LHVH (UZlJXQJHQ GDXHUWHQ ]LHPOLFK ODQJH HU EUDXFKWH ]X VHLQHQ hEHUOHJXQJHQ XQG ]XP )DVVHQHLQHVHQGJOWLJHQ(QWVFKOXVVHVIDVW]ZHL:RFKHQDEHU QDFK ]ZHL :RFKHQ KDWWH HU VLFK DXFK HQWVFKLHGHQ $IDQDVVLM ,ZDQRZLWVFKZDUGDPDOVVFKRQXQJHIlKUIQI]LJ-DKUHDOWXQG HLQK|FKVWVROLGHUJHVHW]WHU0DQQ6HLQH6WHOOXQJLQGHU:HOW XQG LQ GHU *HVHOOVFKDIW ZDU VFKRQ VHLW ODQJHU =HLW DXI GLH IHVWHVWHQ)XQGDPHQWHJHJUQGHW6LFKVHOEVWVRZLHVHLQH5XKH XQG %HTXHPOLFKNHLW OLHEWH XQG VFKlW]WH HU EHU DOOHV LQ GHU :HOW ZLH VLFK GDV DXFK IU HLQHQ LP K|FKVWHQ *UDG DQVWlQGLJHQ 0HQVFKHQ VFKLFNWH 'LHVHQ =XVWDQG GHU VLFK
GXUFK VHLQ JDQ]HV ELVKHULJHV /HEHQ NRQVROLGLHUW XQG HLQH VR VFK|QH)RUPDQJHQRPPHQKDWWHZDUHUQLFKWJHZLOOWDXFKQXU LP JHULQJVWHQ VW|UHQ RGHU LQV 6FKZDQNHQ EULQJHQ ]X ODVVHQ $QGHUHUVHLWV OLHHQ LKQ VHLQH (UIDKUXQJ XQG VHLQ 6FKDUIEOLFN IU GLH 'LQJH GLHVHU :HOW VHKU EDOG XQG PLW Y|OOLJHU .ODUKHLW HUNHQQHQ GD HU HV MHW]W PLW HLQHP JDQ] XQJHZ|KQOLFKHQ :HVHQ]XWXQKDEHGDGLHVHLQH3HUV|QOLFKNHLWVHLGLHQLFKW QXUGURKHVRQGHUQDXFKXQIHKOEDUKDQGOHXQGQDPHQWOLFKYRU NHLQHP+LQGHUQLVVHKDOWPDFKHXPVRZHQLJHUDOVLKUQLFKWVLQ GHU:HOWWHXHUVHLVRGDPDQVLHDXFKGXUFK*HVFKHQNHQLFKW EHVWHFKHQN|QQH+LHUODJDXJHQVFKHLQOLFKHWZDVDQGHUHVYRU PDQ VSUWH HLQH $UW YRQ VHHOLVFKHP (NHO HLQH $UW YRQ EHUVFKZHQJOLFKHU (QWUVWXQJ EHU *RWW ZHL ZHQ XQG ZDV HLQH $UW YRQ XQHUVlWWOLFKHP DOOHV 0D EHUVFKUHLWHQGHP *HIKO GHU 9HUDFKWXQJ NXU] HWZDV ZDV LQ DQVWlQGLJHU *HVHOOVFKDIW DOV LQ K|FKVWHP *UDGH OlFKHUOLFK XQG XQHUODXEW JLOW XQG ZRPLW ]X WXQ ]X KDEHQ IU MHGHQ DQVWlQGLJHQ 0HQVFKHQ JHUDGH]X HLQH 6WUDIH *RWWHV LVW 6HOEVWYHUVWlQGOLFK KlWWH 7R]NLM EHL VHLQHP 5HLFKWXP XQG EHL VHLQHQ 9HUELQGXQJHQRKQHZHLWHUHVLUJHQGHLQHNOHLQHJDQ]KDUPORVH 6FKlQGOLFKNHLW EHJHKHQ N|QQHQ XP VLFK GLHVH 8QDQQHKPOLFKNHLWYRP+DOV]XVFKDIIHQ$QGUHUVHLWVZDUDXFK 1DVWDVMD )LOLSSRZQD VLFKHUOLFK NDXP LPVWDQGH LKP HWZDV 6FKOLPPHV HWZD DXI JHULFKWOLFKHP :HJH ]X]XIJHQ VLH NRQQWH QLFKW HLQPDO HLQHQ EHVRQGHUHQ 6NDQGDO KHUYRUUXIHQ ZHLO PDQ VLH LPPHU PLW JU|WHU /HLFKWLJNHLW LQ 6FKUDQNHQ KDOWHQ NRQQWH $EHU DOO GDV ZDU QXU IU GHQ )DOO ULFKWLJ GD 1DVWDVMD )LOLSSRZQD VLFK GDIU HQWVFKLHG VR ]X KDQGHOQ ZLH HV DOOH DQGHUHQ )UDXHQ LQ lKQOLFKHQ )lOOHQ WXQ XQG QLFKW LQ LKUHU ([]HQWUL]LWlW DOOHV 0D EHUVFKULWW $EHU KLHU NDP GHP NOXJHQ 7R]NLM VHLQH 0HQVFKHQNHQQWQLV ]XVWDWWHQ HU PHUNWH GD 1DVWDVMD )LOLSSRZQD VHOEVW VHKU ZRKO HLQVDK ZLH ZHQLJ VLH LKP GXUFK GLH *HULFKWH VFKDGHQ NRQQWH XQG GD VLH JDQ] DQGHUH*HGDQNHQLQLKUHP.RSIZlO]WHGDVYHUULHWHQLKPLKUH
IXQNHOQGHQ $XJHQ 'D LKU QLFKWV ZHUWYROO ZDU XQG DP ZHQLJVWHQ LKUH HLJHQH 3HUVRQ HV EHGXUIWH HLQHV VHKU NODUHQ HLQGULQJHQGHQ 9HUVWDQGHV XP LQ GLHVHP $XJHQEOLFN ]X HUNHQQHQ GD VLH VFKRQ OlQJVW DXIJHK|UW KDWWH LKUHU HLJHQHQ 3HUVRQ LUJHQGZHOFKHQ :HUW EHL]XOHJHQ XQG XP DOV 6NHSWLNHU XQG]\QLVFKGHQNHQGHU:HOWPDQQDQGLH(UQVWKDIWLJNHLWGLHVHV *HIKOV ]X JODXEHQ VR ZDU 1DVWDVMD )LOLSSRZQD LPVWDQGH VLFK VHOEVW DXI KlOLFKH :HLVH HWZD GXUFK 6LELULHQ XQG =XFKWKDXVXQZLHGHUEULQJOLFK]XJUXQGH]XULFKWHQQXUXPGHQ 0HQVFKHQ ]X EHVFKLPSIHQ JHJHQ GHQ VLH HLQHQ VR XQPHQVFKOLFKHQ +D QlKUWH $IDQDVVLM ,ZDQRZLWVFK KDWWH QLH HLQ +HKO GDUDXV JHPDFKW GD HU HLQ ZHQLJ IHLJH RGHU EHVVHU DXVJHGUFNWLQK|FKVWHP*UDGHNRQVHUYDWLYZDU+lWWHHU]XP %HLVSLHO JHZXW GD PDQ LKQ DXI VHLQHU +RFK]HLW HUPRUGHQ ZUGH RGHU VLFK GDEHL VRQVW HWZDV VHKU 8QSDVVHQGHV /lFKHUOLFKHV XQG LQ GHU *HVHOOVFKDIW QLFKW hEOLFKHV HUHLJQHQ ZUGH VR Kl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lGFKHQJHZHVHQDEHUMHW]W 7R]NLMNRQQWHHVVLFKODQJH=HLWQLFKWYHU]HLKHQGDHUVLHYLHU -DKUH ODQJ DQJHVHKHQ KDWWH RKQH LKU *HVLFKW ULFKWLJ ]X
HUIDVVHQ $OOHUGLQJV IlOOW HV LQ VROFKHQ )lOOHQ DXFK VHKU LQV *HZLFKW ZHQQ DXI EHLGHQ 6HLWHQ HLQH SO|W]OLFKH LQQHUH 8PZDQGOXQJ YRUJHKW hEULJHQV HULQQHUWH HU VLFK DXFK DQ HLQ]HOQH 0RPHQWH LQ GHU 9HUJDQJHQKHLW ZR LKP PDQFKPDO VRQGHUEDUH*HGDQNHQJHNRPPHQZDUHQZHQQHU]XP%HLVSLHO LQ GLHVH $XJHQ EOLFNWH PDQ NRQQWH LQ LKQHQ VR]XVDJHQ HLQH WLHIH JHKHLPQLVYROOH )LQVWHUQLV DKQHQ 'LHVH $XJHQ EOLFNWHQ DOV RE VLH HLQHP HLQ 5lWVHO DXIJlEHQ ,Q GHQ OHW]WHQ ]ZHL -DKUHQ KDWWH HU VLFK RIW EHU GLH 9HUlQGHUXQJ JHZXQGHUW GLH PLW 1DVWDVMD )LOLSSRZQDV *HVLFKWVIDUEH YRUJHJDQJHQ ZDU VLH ZDUHUVFKUHFNHQGEODPHUNZUGLJHUZHLVHDEHUGDGXUFKVRJDU QRFK VFK|QHU JHZRUGHQ 7R]NLM GHU ZLH DOOH /HEHPlQQHU DQIDQJV PLW *HULQJVFKlW]XQJ GDUDQ JHGDFKW KDWWH ZLH ELOOLJ LKPGLHVHVOHEHQVXQNXQGLJH:HVHQ]XJHIDOOHQZDUZDULQGHU OHW]WHQ=HLWDQGHU5LFKWLJNHLWVHLQHU$QVLFKWHLQLJHUPDHQLUUH JHZRUGHQ -HGHQIDOOV KDWWH HU QRFK LP OHW]WHQ )UKMDKU EHDEVLFKWLJW 1DVWDVMD )LOLSSRZQD LQ %lOGH PLW LUJHQGHLQHP YHUVWlQGLJHQ RUGHQWOLFKHQ LQ HLQHP DQGHUHQ *RXYHUQHPHQW DQJHVWHOOWHQ%HDPWHQ JXW ]X YHUKHLUDWHQ XQG LKU HLQH KEVFKH 6XPPHDOV0LWJLIW]XJHEHQ2KZLHVFKUHFNOLFKXQGERVKDIW ODFKWH 1DVWDVMD )LOLSSRZQD MHW]W EHU GLHVHQ 3ODQ $EHU MHW]W ZDU $IDQDVVLM ,ZDQRZLWVFK HQW]FNW EHU LKUHQ QHXHQ 5HL] VRJDU DXI GHQ *HGDQNHQ JHNRPPHQ RE HU DXV GLHVHP :HLE QLFKW YRQ QHXHP 9RUWHLO ]LHKHQ N|QQH (U EHVFKOR 1DVWDVMD )LOLSSRZQD LQ 3HWHUVEXUJ ZRKQHQ ]X ODVVHQ XQG PLW DOOHP .RPIRUW XQG /X[XV ]X XPJHEHQ .RQQWH HU GDV HLQH QLFKW KDEHQ VR ZHQLJVWHQV GDV DQGHUH PLW HLQHU 1DVWDVMD )LOLSSRZQD NRQQWH PDQ VLFK VFKRQ VHKHQ ODVVHQ XQG VLFK LQ JHZLVVHQ .UHLVHQ VRJDU HLQ IHLQHV 5HQRPPHH HUZHUEHQ ,Q GLHVHP 3XQNW DEHU OHJWH $IDQDVVLM ,ZDQRZLWVFK DXI VHLQ 5HQRPPHH JURHQ :HUW -HW]W ZRKQWH QXQ 1DVWDVMD )LOLSSRZQDVFKRQIQI-DKUHLQ3HWHUVEXUJXQGQDWUOLFKKDWWH LQ GLHVHP ODQJHQ =HLWUDXP YLHOHV VLFK JHNOlUW XQG HLQH EHVWLPPWHUH *HVWDOW DQJHQRPPHQ $IDQDVVLM ,ZDQRZLWVFKV
/DJH ZDU ZHQLJ WU|VWOLFK GDV VFKOLPPVWH ZDU GDEHL GD HU QDFKGHP HU VLFK HLQPDO IHLJH JH]HLJW KDWWH VLFK JDU QLFKW ZLHGHUEHUXKLJHQNRQQWH(UIUFKWHWHVLFK±XQGZXWHVHOEVW QLFKW HLQPDO ZRYRU HU IUFKWHWH VLFK HLQIDFK YRU 1DVWDVMD )LOLSSRZQD(LQH=HLWODQJQlPOLFKZlKUHQGGHUEHLGHQHUVWHQ -DKUHKDWWHHUJHDUJZ|KQWGD1DVWDVMD)LOLSSRZQDVHOEVWGHQ :XQVFK KHJH LKQ ]X KHLUDWHQ DEHU LQIROJH LKUHV DXHUJHZ|KQOLFKHQ +RFKPXWV VFKZHLJH XQG EHKDUUOLFK DXI VHLQHQ $QWUDJ ZDUWH 'DV ZlUH MD YRQ LKUHU 6HLWH HLQ VRQGHUEDUHV $QVLQQHQ JHZHVHQ DEHU $IDQDVVLM ,ZDQRZLWVFK ZDUDUJZ|KQLVFKJHZRUGHQHUUXQ]HOWHGLH6WLUQXQGEHUOLH VLFKVHLQHQWUEHQ*HGDQNHQ=XVHLQHUJURHQXQGVRLVWGDV 0HQVFKHQKHU]QXQHLQPDO LKPHLQLJHUPDHQXQDQJHQHKPHQ hEHUUDVFKXQJ EHU]HXJWH HU VLFK MHGRFK EHL HLQHU EHVWLPPWHQ *HOHJHQKHLWGDYRQGDDXFKZHQQ HULKU VHLQH +DQG DQE|WH VLHVLHQLFKWDQQHKPHQZUGH /DQJH =HLWNRQQWH HUGDVQLFKW EHJUHLIHQ (V VFKLHQ LKP QXU HLQH (UNOlUXQJ GDIU P|JOLFK GDGHU6WRO]ªGHVEHOHLGLJWHQSKDQWDVWLVFKHQ:HLEHV©VRZHLW JHKH GD HV LKU PHKU )UHXGH PDFKH LKUH 9HUDFKWXQJ HLQPDO GXUFKHLQHDEVFKOlJLJH$QWZRUW]XP$XVGUXFN]XEULQJHQDOV VLFK IU GDXHUQG HLQH JHVLFKHUWH 3RVLWLRQ ]X YHUVFKDIIHQ XQG HLQ XQHUK|UWHV *OFN ]X HUODQJHQ 'DV VFKOLPPVWH ZDU GD 1DVWDVMD )LOLSSRZQD LQ HUVFKUHFNHQGHP 0DH GLH +HUUVFKDIW EHULKQJHZDQQ$XFKDXIHLQH$EILQGXQJVVXPPHVHOEVWDXI HLQH VHKU KRKH JLQJ VLH QLFKW HLQ XQG REZRKO VLH GHQ LKU DQJHERWHQHQ.RPIRUWDQQDKPOHEWHVLHGRFKVHKUEHVFKHLGHQ XQG OHJWH LQ GLHVHQ IQI -DKUHQ IDVW QLFKWV ]XUFN $IDQDVVLM ,ZDQRZLWVFKKDWWHHLQVHKUVFKODXHV0LWWHOYHUVXFKWXPVHLQH .HWWHQ]XVSUHQJHQXQPHUNOLFKXQGNXQVWYROOVXFKWHHUVLHDXI JHVFKLFNWH :HLVH GXUFK LGHDOH /RFNXQJHQ ]X YHUIKUHQ DEHU DOO GLH YHUN|USHUWHQ ,GHDOH +XVDUHQ *HVDQGWVFKDIWVVHNUHWlUH 'LFKWHU 5RPDQVFKULIWVWHOOHU XQG VRJDU 6R]LDOLVWHQ ± QLFKWV PDFKWH DXI 1DVWDVMD )LOLSSRZQD LUJHQGZHOFKHQ (LQGUXFN JHUDGH DOV RE VLH VWDWW GHV +HU]HQV HLQHQ 6WHLQ LQ GHU %UXVW
KlWWH XQG LKUH *HIKOH IU DOOH =HLW YHUWURFNQHW XQG HUVWRUEHQ ZlUHQ 6LH IKUWH HLQ VHKU ]XUFNJH]RJHQHV /HEHQ ODV YLHO EHVFKlIWLJWHVLFKVRJDU PLW GHQ :LVVHQVFKDIWHQ XQG OLHEWH GLH 0XVLN %HNDQQWH KDWWH VLH QXU ZHQLJH VLH YHUNHKUWH QXU PLW HLQ SDDU DUPHQ NRPLVFKHQ %HDPWHQIUDXHQ XQG HLQLJHQ DOWHQ 6FKDXVSLHOHULQQHQ QDPHQWOLFK DEHU KHJWH VLH HLQH ZDUPH =XQHLJXQJ ]X GHU ]DKOUHLFKHQ )DPLOLH HLQHV DFKWHQVZHUWHQ /HKUHUV XQG ZXUGH DXFK LKUHUVHLWV LQ GLHVHU )DPLOLH VHKU JHOLHEWXQGZHQQVLH]X%HVXFKNDPPLW)UHXGHQHPSIDQJHQ =LHPOLFK RIW IDQGHQ VLFK DEHQGV EHL LKU IQI RGHU VHFKV %HNDQQWH]XVDPPHQQLFKWPHKU7R]NLMHUVFKLHQUHFKWKlXILJ XQG SQNWOLFK ,Q GHU OHW]WHQ =HLW ZDU HV QLFKW RKQH JURH 0KH DXFK GHP *HQHUDO -HSDQWVFKLQ JHOXQJHQ 1DVWDVMD )LOLSSRZQDV %HNDQQWVFKDIW ]X PDFKHQ *OHLFK]HLWLJ PDFKWH VLFK DXI K|FKVW OHLFKWH PKHORVH :HLVH DXFK HLQ MXQJHU %HDPWHU QDPHQV )HUG\VFKWVFKHQNR PLW LKU EHNDQQW HLQ UHFKW RUGLQlUHU YXOJlUHU +DQVZXUVW GHU VLFK DOV %UXGHU /XVWLJ JDE XQG JHUQ WUDQN 'HV ZHLWHUHQ ZDU HLQ HLJHQWPOLFKHU MXQJHU 0HQVFK QDPHQV 3WL]\Q PLW LKU EHNDQQW HU ZDU YRQ EHVFKHLGHQHP :HVHQ XQG NRUUHNWHQ JODWWHQ 0DQLHUHQ VWDPPWH DXV lUPOLFEHU )DPLOLH XQG KDWWH VLFK ELV ]XP 3IDQGOHLKHU KLQDXIJHDUEHLWHW 6FKOLHOLFK ZXUGH DXFK *DZULOD $UGDOLRQRZLWVFK PLW LKU EHNDQQW 'DV 5HVXOWDW ZDU GD 1DVWDVMD )LOLSSRZQD HLQH HLJHQDUWLJH %HUPWKHLW HUODQJWH MHGHUPDQQZXWHYRQLKUHU6FK|QKHLWDEHUGDVZDUDXFKDOOHV QLHPDQGNRQQWHVLFKUKPHQ HWZDVEHLLKU HUUHLFKW]XKDEHQ QLHPDQG 1DFKWHLOLJHV EHU VLH HU]lKOHQ 'XUFK GLHVHV 5HQRPPHHXQGGXUFKLKUH%LOGXQJLKU IHLQHV %HQHKPHQ XQG LKUHQ VFKDUIHQ 9HUVWDQG GXUFK DOOHV GLHV OLH VLFK $IDQDVVLM ,ZDQRZLWVFK LQ GHU $EVLFKW EHVWlUNHQ HLQHQ JHZLVVHQ 3ODQ GXUFK]XIKUHQ %LV ]X GLHVHP 3XQNW KDWWHQ VLFK GLH 'LQJH HQWZLFNHOW DOV *HQHUDO -HSDQWVFKLQ VHOEVW GDUDQ WlWLJHQ KHUYRUUDJHQGHQ$QWHLO]XQHKPHQEHJDQQ 7R]NLMOHJWHDOVHUVLFKLQ VR OLHEHQVZUGLJHU :HLVH DQ LKQ
PLW GHU %LWWH XP VHLQHQ 5DW KLQVLFKWOLFK HLQHU VHLQHU 7|FKWHU ZDQGWH LKP GXUFKDXV HKUHQKDIW HLQ YROOVWlQGLJHV XQG RIIHQKHU]LJHV %HNHQQWQLV DE (U HU|IIQHWH LKP GD HU HQWVFKORVVHQ VHL YRU NHLQHP 0LWWHO ]XUFN]XVFKUHFNHQ XP VHLQH )UHLKHLW ZLHGHU]XHUODQJHQ HU ZHUGH VLFK QLFKW GDPLW ]XIULHGHQJHEHQ ZHQQ VRJDU 1DVWDVMD )LOLSSRZQD VHOEVW LKP GLH9HUVLFKHUXQJJHEHQVROOWHLKQNQIWLJJDQ]LQ5XKHODVVHQ ]XZROOHQPLW:RUWHQZHUGHHUVLFKQLFKW]XIULHGHQJHEHQHU EUDXFKH HLQHYROOVWlQGLJH*DUDQWLH 6R YHUEQGHWHQ VLFK GHQQ GLH EHLGHQ XQG EHVFKORVVHQ JHPHLQVDP YRU]XJHKHQ 6LH HQWVFKLHGHQVLFKGDIUHV]XHUVWPLWGHQPLOGHVWHQ0LWWHOQ]X YHUVXFKHQXQGVR]XVDJHQQXUGLHªHGHOVWHQ6DLWHQ©LQ1DVWDVMD )LOLSSRZQDV +HU]HQ DQ]XUKUHQ %HLGH IXKUHQ ]X LKU XQG 7R]NLMEHJDQQJHUDGHKHUDXVPLWGHU(UNOlUXQJVHLQH/DJHVHL LKPXQHUWUlJOLFKJHZRUGHQHU JHVWDQGGD HUVHOEVWDQ DOOHP VFKXOGVHLVSUDFKHVRIIHQDXVGDHUQLFKWXPKLQN|QQHVHLQ IUKHUHV 9HUKDOWHQ JHJHQ VLH ]X EHUHXHQ DEHU HU VHL HEHQ HLQ HLQJHIOHLVFKWHU*HQXPHQVFKXQGKDEHVLFKVHOEVWQLFKWLQGHU *HZDOW -HW]W DEHU ZROOH HU KHLUDWHQ XQG GDV JDQ]H 6FKLFNVDO GLHVHU LP K|FKVWHQ *UDGH ZRKODQVWlQGLJHQ QREOHQ (KH OLHJH LQ LKUHQ +lQGHQ NXU] HU HUZDUWH DOOHV YRQ LKUHP (GHOPXW 'DQQ EHJDQQ LQ VHLQHU (LJHQVFKDIW DOV 9DWHU *HQHUDO -HSDQWVFKLQ ]X UHGHQ HU VSUDFK YHUVWDQGHVPlLJ XQWHU 9HUPHLGXQJ GHV UKUHQGHQ (OHPHQWV HUZlKQWH QXU GD HU VHLQHUVHLWV GXUFKDXV LKU 5HFKW DQHUNHQQH EHU $IDQDVVLM ,ZDQRZLWVFKV 6FKLFNVDO ]X HQWVFKHLGHQ XQG SDUDGLHUWH JHVFKLFNWPLWVHLQHUHLJHQHQ'HPXWLQGHPHUGDUDXIKLQZLHV GDGDV6FKLFNVDOVHLQHU7RFKWHUMDYLHOOHLFKWDXFKGDVVHLQHU EHLGHQDQGHUHQ7|FKWHUMHW]WYRQLKUHU(QWVFKHLGXQJDEKlQJH $XI 1DVWDVMD )LOLSSRZQDV )UDJH ZDV PDQ HLJHQWOLFK YRQ LKU YHUODQJH JHVWDQG LKU 7R]NLM PLW GHU JOHLFKHQ JDQ] XQYHUKOOWHQ 2IIHQKHLW ZLH YRUKHU HU KDEH YRU IQI -DKUHQ HLQHQVROFKHQ6FKUHFNEHNRPPHQGDHUVLFKDXFKMHW]WQLFKW HKHU JDQ] EHUXKLJHQ N|QQH DOV ELV VLFK 1DVWDVMD )LOLSSRZQD
VHOEVW PLW LUJHQG MHPDQG YHUKHLUDWH (U IJWH VRJOHLFK KLQ]X GLHVH %LWWH ZUGH YRQ VHLQHU 6HLWH QDWUOLFK XQJHK|ULJ VHLQ ZHQQ HU QLFKW GLHVEH]JOLFK HLQH JHZLVVH 9HUDQODVVXQJ KlWWH (U KDEH VHKU ZRKO EHPHUNW XQG ZLVVH PLW %HVWLPPWKHLW GD HLQMXQJHU0DQQYRQVHKU JXWHU+HUNXQIWGHUPLWVHLQHQVHKU DFKWHQVZHUWHQ $QJHK|ULJHQ ]XVDPPHQ OHEH QlPOLFK *DZULOD $UGDOLRQRZLWVFK ,ZROJLQ GHQ VLH MD HEHQIDOOV NHQQH XQG EHL VLFK HPSIDQJH VLH VFKRQ VHLW ODQJHP PLW DOOHU .UDIW GHU /HLGHQVFKDIWOLHEHXQG JHZLVHLQKDOEHV /HEHQIUGLHEORH +RIIQXQJLKUH1HLJXQJ]XHUZHUEHQKLQJHEHQZUGH'LHVHV *HVWlQGQLVKDEHLKP*DZULOD$UGDOLRQRZLWVFKVHOEVWJHPDFKW XQG ]ZDU VFKRQ YRU OlQJHUHU =HLW DXV )UHXQGVFKDIW XQG LP 'UDQJH VHLQHV UHLQHQ MXJHQGOLFKHQ +HU]HQV DXFK ,ZDQ )MRGRURZLWVFK GHU HLQ *|QQHU GHV MXQJHQ 0DQQHV VHL ZLVVH VFKRQ ODQJH GDUXP -D DXFK 1DVWDVMD )LOLSSRZQD VHOEVW VHL ZHQQ HU $IDQDVVLM ,ZDQRZLWVFK QLFKW LUUH GLH /LHEH GHV MXQJHQ 0DQQHV VFKRQ OlQJVW EHNDQQW XQG HV VFKHLQH LKP VRJDU GD VLH GLHVH /LHEH ZRKOZROOHQG DQVHKH 6HOEVWYHUVWlQGOLFK VHL HV LKP JDQ] EHVRQGHUV SHLQOLFK YRQ DOOHGHP ]X UHGHQ $EHU ZHQQ 1DVWDVMD )LOLSSRZQD VHLQHU 7R]NLMV9HUVLFKHUXQJ*ODXEHQVFKHQNHQZROOHGDLQVHLQHP +HU]HQQHEHQGHPHJRLVWLVFKHQ :XQVFKH VHLQ HLJHQHV *OFN ]X ]LPPHUQ DXFK GHU :XQVFK IU LKU :RKOHUJHKHQ OHEHQGLJ VHL GDQQ ZHUGH VLH EHJUHLIHQ GD HU VFKRQ ODQJH PLW %HIUHPGHQ XQG PLW VFKPHU]OLFKHU (PSILQGXQJ LKUH 9HUHLQVDPXQJ JHVHKHQ KDEH VLH EHZHJH VLFK GD LQ HLQHP XQGHILQLHUEDUHQ 'XQNHO XQG ZROOH QLFKW DQ HLQH P|JOLFKH (UQHXHUXQJ LKUHV /HEHQV JODXEHQ GDV GRFK LQ GHU /LHEH XQG LP )DPLOLHQJOFN HLQH $XIHUVWHKXQJ HUIDKUHQ XQG DXI GLHVH :HLVH HLQ QHXHV =LHO JHZLQQHQ N|QQH 6R ZLH VLH MHW]W OHEH ZHUGH VLH LKUH YLHOOHLFKW JOlQ]HQGHQ )lKLJNHLWHQ ]XJUXQGH ULFKWHQVLHOLHElXJOHDXVIUHLHQ6WFNHQPLWLKUHP*UDPHXQG JHEH VLFK HLQHU URPDQWLVFKHQ hEHUVSDQQXQJ KLQ GLH ZHGHU LKUHV NODUHQ 9HUVWDQGHV QRFK LKUHV HGOHQ +HU]HQV ZUGLJ VHL
(U ZLHGHUKROWH QRFK HLQPDO QLHPDQGHP N|QQH HV SHLQOLFKHU VHLQ GDYRQ ]X UHGHQ DOV LKP XQG VFKOR HU N|QQH QLFKW GLH +RIIQXQJ DXIJHEHQ GD 1DVWDVMD )LOLSSRZQD LKP QLFKW PLW 9HUDFKWXQJ DQWZRUWHQ ZHUGH ZHQQ HU LKU VHLQHQ DXIULFKWLJHQ :XQVFK DXVVSUHFKH LKU *HVFKLFN IU GLH =XNXQIW VLFKHU]XVWHOOHQ XQG LKU HLQH 6XPPH YRQ IQIXQGVLHE]LJWDXVHQG 5XEHO DQELHWH (U IJWH ]XU (UNOlUXQJ KLQ]X GLH 6XPPH VHL LKU XQWHU DOOHQ 8PVWlQGHQ EHUHLWV LQ VHLQHP 7HVWDPHQW ]XJHGDFKW NXU] HV KDQGOH VLFK KLHU JDQ] XQGJDUQLFKWXPLUJHQGZHOFKH(QWVFKlGLJXQJ:DUXPZROOH VLH VFKOLHOLFK QLFKW JODXEHQ GD HU GHQ PHQVFKOLFK YHUVWlQGOLFKHQ :XQVFK KDEH ZHQLJVWHQV LUJHQGZLH VHLQ *HZLVVHQ ]X HUOHLFKWHUQ XQG VR ZHLWHU XQG VR ZHLWHU 8QG VR EUDFKWH HUDOOHVYRUZDVHEHQLQlKQOLFKHQ )lOOHQ EHU GLHVHV 7KHPDJHVDJW]XZHUGHQSIOHJW$IDQDVVLM,ZDQRZLWVFKVSUDFK ODQJHXQGPLW$XIJHERWVHLQHUJDQ]HQ5HGHNXQVWGDEHLOLHHU QRFK VR EHLOlXILJ GLH LQWHUHVVDQWH %HPHUNXQJ HLQIOLHHQ GD HUYRQGLHVHQIQIXQGVLHE]LJWDXVHQG5XEHOMHW]W]XPHUVWHQPDO KDEH HLQ :RUW IDOOHQODVVHQ XQG GD VHOEVW GHU KLHU GDQHEHQVLW]HQGH ,ZDQ )MRGRURZLWVFK ELVKHU QLFKWV GDYRQ JHZXWKDEHNXU]GDEHUKDXSWQLHPDQGHWZDVGDYRQZLVVH 1DVWDVMD )LOLSSRZQDV $QWZRUW VHW]WH GLH EHLGHQ )UHXQGH LQ (UVWDXQHQ 'DZDUQLFKWGLHJHULQJVWH6SXUYRQLKUHUIUKHUHQ6SRWWOXVW )HLQGVHOLJNHLW XQG KDHUIOOWHQ *HVLQQXQJ NHLQH 6SXU YRQ MHQHP IUKHUHQ /DFKHQ YRQ GHP LPPHU QRFK EHL GHU EORHQ (ULQQHUXQJ GHP DUPHQ 7R]NLM HLQ NDOWHU 6FKDXGHU EHU GHQ 5FNHQ OLHI 1HLQ JDQ] LP *HJHQWHLO VLH VFKLHQ VLFK VRJDU GDUEHU]XIUHXHQGDVLHHQGOLFKPLWMHPDQGRIIHQKHU]LJXQG IUHXQGVFKDIWOLFKUHGHQN|QQH6LHJHVWDQGGDVLHVHOEVWVFKRQ ODQJH JHZQVFKW KDEH XP HLQHQ IUHXQGVFKDIWOLFKHQ 5DW ]X ELWWHQQXULKU6WRO]KDEHVLHGDYRQ]XUFNJHKDOWHQDEHUMHW]W ZR GDV (LV JHEURFKHQ VHL N|QQH LKU QLFKWV HUZQVFKWHU VHLQ $QIDQJVPLWHLQHPWUDXULJHQ/lFKHOQGDQQDEHUPLWKHLWHUHP
PXQWHUHP /DFKHQ JHVWDQG VLH GD YRQ LKUHP IUKHUHQ VWUPLVFKHQ :HVHQ MHGHQIDOOV QLFKWV PHKU EULJJHEOLHEHQ VHL VFKRQOlQJVWKDEHVLHLKUH$QVLFKWHQEHUGLH'LQJHWHLOZHLVH JHlQGHUWXQGREZRKOVLHLP+HU]HQGLHVHOEHJHEOLHEHQVHLVR PVVHVLHGRFKVHKUYLHOHVDOVYROOHQGHWH7DWVDFKHDQHUNHQQHQ ZDV JHVFKHKHQ VHL VHL JHVFKHKHQ ZDV YHUJDQJHQ VHL VHL YHUJDQJHQGDKHUHUVFKHLQHHVLKUVRJDUVHOWVDPGD$IDQDVVLM ,ZDQRZLWVFK LPPHU QRFK lQJVWOLFK VHL 'DQQ ZDQGWH VLH VLFK DQ ,ZDQ )MRGRURZLWVFK XQG HUNOlUWH LKP PLW HLQHU 0LHQH GLH GLHJU|WH+RFKDFKWXQJ]XP$XVGUXFNEUDFKWHVLHKDEHVFKRQ OlQJVW VHKU YLHO YRQ VHLQHQ 7|FKWHUQ JHK|UW XQG VLFK OlQJVW GDUDQJHZ|KQWVLHDXIULFKWLJKRFK]XVFKlW]HQ6FKRQGHUEORH *HGDQNH GD VLH LPVWDQGH VHL LKQHQ LUJHQGZLH ]X QW]HQ PDFKHVLHJOFNOLFKXQGVWRO](VVHLULFKWLJGDVLHVLFKMHW]W VHKU EHGUFNW XQG HLQVDP IKOH VHKU HLQVDP $IDQDVVLM ,ZDQRZLWVFK KDEH LKUH (PSILQGXQJHQ HUUDWHQ VLH KDEH DOOHUGLQJV GHQ :XQVFK ZHQQ DXFK QLFKW GXUFK GLH /LHEH VR GRFKGXUFKGHQ%HVLW]HLQHUHLJHQHQ )DPLOLHHLQQHXHV /HEHQ ]X EHJLQQHQ XQG VLFK HLQHV QHXHQ =LHOHV EHZXW ]X ZHUGHQ DEHU ZDV *DZULOD $UGDOLRQRZLWVFK DQJHKH VR N|QQH VLH LQ GLHVHU +LQVLFKW IDVW QRFK JDU QLFKWV VDJHQ (V KDEH MD IUHLOLFK GHQ $QVFKHLQ GD HU VLH OLHEH XQG VLH IKOH GD HV LKU P|JOLFKVHLQZUGHLKQDXFKLKUHUVHLWVOLHE]XJHZLQQHQZHQQ VLH DXI GLH %HVWlQGLJNHLW VHLQHU =XQHLJXQJ YHUWUDXHQ GUIH DEHUDXFKZHQQVLHDQVHLQH $XIULFKWLJNHLW JODXEHQ ZROOH VHL HU GRFK QRFK VHKU MXQJ GD VHL HV IU VLH VFKZHU HLQHQ (QWVFKOX ]X IDVVHQ :DV LKU EULJHQV DP PHLVWHQ DQ LKP JHIDOOH VHL GD HU HLIULJ DUEHLWH XQG DOOHLQ GLH JDQ]H )DPLOLH XQWHUKDOWH 6LH KDEH JHK|UW GD HU HLQ HQHUJLVFKHU 0DQQ VHL GHU VHLQHQ HLJHQHQ :HUW NHQQH .DUULHUH PDFKHQ XQG YRUZlUWVNRPPHQ ZROOH 6LH KDEH DXFK JHK|UW GD 1LQD $OH[DQGURZQD ,ZROJLQD *DZULOD $UGDOLRQRZLWVFKV 0XWWHU HLQH JDQ] YRUWUHIIOLFKH K|FKVW DFKWHQVZHUWH )UDX XQG VHLQH 6FKZHVWHU :DUZDUD $UGDOLRQRZQD HLQ VHKU LQWHUHVVDQWHV
HQHUJLVFKHV 0lGFKHQ VHL VLH KDEH YLHO EHU VLH YRQ +HUUQ 3WL]\Q JHK|UW 6LH KDEH JHK|UW GD GLH EHLGHQ 'DPHQ LKU XQJOFNOLFKHV 6FKLFNVDO KHOGHQPWLJ HUWUJHQ VLH ZQVFKH VLFKLKUH%HNDQQWVFKDIW]XPDFKHQDEHUHVVHLQRFKGLH)UDJH REGLHVH VLH IUHXGLJ LQ LKUH )DPLOLH DXIQHKPHQ ZUGHQ $OOHV LQDOOHPVDJHVLHQLFKWVJHJHQGLH0|JOLFKNHLWGLHVHU(KHDEHU GDVEHGUIHQRFKOlQJHUHUhEHUOHJXQJXQGVLHZQVFKHQLFKW GDV PDQ VLH GUlQJH :DV GLH IQIXQGVLHE]LJWDXVHQG 5XEHO DQODQJH VR KDEH VLFK $IDQDVVLM ,ZDQRZLWVFK XQQ|WLJHUZHLVH VRYLHO 0KH JHJHEHQ GDUEHU ]X UHGHQ 6LH NHQQH VHOEVW GHQ :HUW GHV *HOGHV XQG ZHUGH GLH 6XPPH QDWUOLFK DQQHKPHQ 6LH GDQNH $IDQDVVLM ,ZDQRZLWVFK IU VHLQ =DUWJHIKO GD HU QLFKWQXU*DZULOD$UGDOLRQRZLWVFKVRQGHUQDXFKGHP*HQHUDO JHJHQEHU QLFKW GDYRQ JHVSURFKHQ KDEH ZLHZRKO HLJHQWOLFK NHLQ *UXQG YRUKDQGHQ VHL ZHVKDOE GHU HUVWHUH GDYRQ QLFKW YRUKHU .HQQWQLV KDEHQ VROOH :HQQ VLH LQ VHLQH )DPLOLH HLQWUHWH VR KDEH VLH NHLQHQ $QOD VLFK GLHVHV *HOGHV ]X VFKlPHQ -HGHQIDOOV EHDEVLFKWLJH VLH QLFKW LUJHQG MHPDQG ZHJHQ LUJHQG HWZDV XP 9HU]HLKXQJ ]X ELWWHQ XQG ZQVFKH GDDOOHGLHVZWHQ6LHZHUGH*DZULOD$UGDOLRQRZLWVFKQLFKW HKHUKHLUDWHQDOVELVVLHGLHhEHU]HXJXQJJHZRQQHQKDEHGD ZHGHU HU QRFK VHLQH $QJHK|ULJHQ LUJHQGZHOFKH KHLPOLFKHQ $QVLFKWHQ EHU VLH KHJWHQ -HGHQIDOOV PHLQH VLH GD VLH DQ QLFKWVHLQH6FKXOGWUDJHXQGHVZlUHVHKU JXW ZHQQ *DZULOD $UGDOLRQRZLWVFKHUIKUHLQZHOFKHU$UWVLHGLHVHJDQ]HQIQI -DKUH KLQGXUFK LQ 3HWHUVEXUJ JHOHEW LQ ZHOFKHQ %H]LHKXQJHQ VLH ZlKUHQG GLHVHU =HLW ]X $IDQDVVLM ,ZDQRZLWVFK JHVWDQGHQ XQG RE VLH YLHO 9HUP|JHQ DQJHVDPPHOW KDEH :HQQ VLH VFKOLHOLFKGDV.DSLWDOMHW]WDQQHKPHVRVHKHVLHHVGXUFKDXV QLFKW DOV %H]DKOXQJ IU GHQ 9HUOXVW LKUHU MXQJIUlXOLFKHQ (KUH DQ DQ GHP VLH NHLQH 6FKXOG WUDJH VRQGHUQ HLQIDFK DOV HLQH (QWVFKlGLJXQJ IU GDV /HEHQ GDV LKU GDGXUFK YHUGRUEHQ ZRUGHQVHL 6LH JHULHW VRJDU ZDV EULJHQV QXU QDWUOLFK ZDU EHL DOO
GLHVHQ 'DUOHJXQJHQ VR LQ +LW]H XQG (UUHJXQJ GD *HQHUDO -HSDQWVFKLQVHKU]XIULHGHQZDUXQGGLH6DFKHIUHUOHGLJWKLHOW DEHU 7R]NLM GHU QXQ HLQPDO lQJVWOLFK JHZRUGHQ ZDU WUDXWH GHP )ULHGHQ DXFK MHW]W QRFK QLFKW JDQ] XQG IUFKWHWH LPPHU QRFK HV N|QQWH XQWHU GHQ %OXPHQ HLQH 6FKODQJH YHUERUJHQ VHLQ 'HQQRFK EHJDQQHQ GLH 8QWHUKDQGOXQJHQ GHUMHQLJH 3XQNW DXI GHP GDV JDQ]H 0DQ|YHU GHU EHLGHQ )UHXQGH EHUXKWH QlPOLFK GLH 0|JOLFKNHLW 1DVWDVMD IU *DQMD ]X LQWHUHVVLHUHQ JHZDQQ DOOPlKOLFK HLQH NODUHUH EHVWLPPWHUH *HVWDOW VR GD VHOEVW 7R]NLM PDQFKPDO DQILQJ DQ GLH 0|JOLFKNHLW GHV *HOLQJHQV ]X JODXEHQ 8QWHUGHVVHQ VSUDFK VLFK 1DVWDVMD )LOLSSRZQD PLW *DQMD DXV :RUWH ZXUGHQ GDEHL DOOHUGLQJVQXUZHQLJHJHZHFKVHOWDOVOLWWHLKU6FKDPJHIKOJDU ]X VHKU 6LH JHVWDWWHWH LKP VLH ZHLWHU ]X OLHEHQ HUNOlUWH DEHU DXI GDV EHVWLPPWHVWH VLH ZROOH VLFK LQ NHLQHU :HLVH ELQGHQ VLH EHKDOWH VLFK ELV ]XU +RFK]HLW ZHQQ HV ZLUNOLFK ]XU +RFK]HLWNRPPH GDV5HFKWYRUQHLQ]XVDJHQVRJDUELV]XU OHW]WHQ 6WXQGH JDQ] GDVVHOEH 5HFKW JHVWHKH VLH DXFK LKP ]X %DOGGDUDXIHUIXKU*DQMDGXUFKHLQHQJQVWLJHQ=XIDOOGDGHU :LGHUZLOOHVHLQHU JDQ]HQ)DPLOLHJHJHQGLHVH(KHXQG JHJHQ 1DVWDVMD )LOLSSRZQDV 3HUVRQ GHU VLFK LQ ZLHGHUKROWHQ KlXVOLFKHQ 6]HQHQ JHlXHUW KDWWH EHUHLWV PLW YLHOHQ (LQ]HOKHLWHQ ]X 1DVWDVMD )LOLSSRZQDV .HQQWQLV JHODQJW ZDU VLH VHOEVW UHGHWH PLW LKP QLFKW GDUEHU REJOHLFK HU HV WlJOLFK HUZDUWHWH (V OLHH VLFK EULJHQV QRFK YLHOHV YRQ DOO GHQ XQDQJHQHKPHQ *HVFKLFKWHQ HU]lKOHQ GLH DQOlOLFK GLHVHU %UDXWZHUEXQJ XQG GHU 9HUKDQGOXQJHQ YRUNDPHQ DEHU ZLU KDEHQ VR VFKRQ YRUJHJULIIHQ DXFK HUVFKLHQ PDQFKHV GDYRQ HUVW LQ )RUP VHKU XQEHVWLPPWHU *HUFKWH 6R KDWWH ]XP %HLVSLHO 7R]NLM LUJHQGZRKHU HUIDKUHQ GD 1DVWDVMD )LOLSSRZQD LQ LUJHQGZHOFKH QLFKW QlKHU EHNDQQWHQ JHKHLPHQ %H]LHKXQJHQ]XGHQ-HSDQWVFKLQVFKHQMXQJHQ 'DPHQ JHWUHWHQ VHL±HLQJDQ]XQJODXEZUGLJHV*HUFKW'DJHJHQVFKHQNWHHU HLQHP DQGHUHQ *HUFKWH XQZLOONUOLFK *ODXEHQ XQG ZXUGH
GDGXUFK LQ JURH $QJVW YHUVHW]W HU K|UWH DOV VLFKHU 1DVWDVMD )LOLSSRZQD ZLVVH JDQ] JHQDX GD *DQMD VLH QXU GHV *HOGHV ZHJHQ KHLUDWHQ ZROOH GD *DQMD HLQ VFKZDU]HV KDEJLHULJHV XQYHUWUlJOLFKHV QHLGLVFKHV XQG JUHQ]HQORV HJRLVWLVFKHV +HU] KDEH GD *DQMD ]ZDU IUKHU ZLUNOLFK OHLGHQVFKDIWOLFK GDQDFK JHVWUHEW KDEH VLH ]X HUREHUQ GD HU DEHU VHLWGHP GLH EHLGHQ )UHXQGHEHVFKORVVHQKlWWHQGLHVHQXQPHKUYRQEHLGHQ6HLWHQ EHJLQQHQGH/HLGHQVFKDIW]XLKUHP9RUWHLODXV]XEHXWHQXQGLKQ ]XNDXIHQLQGHPVLHLKP1DVWDVMD)LOLSSRZQDDOVUHFKWPlLJH *DWWLQYHUNDXIWHQGLHELVKHU*HOLHEWHQXQJULPPLJKDVVHGD LQ LKUHP +HU]HQ /HLGHQVFKDIW XQG +D MHW]W LQ VRQGHUEDUHU :HLVHYHUHLQLJWVHLHQXQGHU]ZDUVFKOLHOLFKQDFKTXDOYROOHP +LQXQGKHUVFKZDQNHQ HQGOLFK HLQJHZLOOLJW KDEH ªGDV OLHGHUOLFKH )UDXHQ]LPPHU© ]X KHLUDWHQ DEHU VLFK VHOEVW LP VWLOOHQ JHVFKZRUHQ KDEH VLFK VSlWHU GDIU ELWWHU DQ LKU ]X UlFKHQ XQG VLH VFKZHU ªEHQ ]X ODVVHQ© ZLH HU VLFK VHOEVW DXVJHGUFNW KDEH $OOHV GLHV ZLVVH 1DVWDVMD )LOLSSRZQD XQG EHUHLWH LP JHKHLPHQ LUJHQG HWZDV YRU 7R]NLM ZDU GHUPDHQ EHl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
GHUPDHQ GD GLHVH ZXQGHUOLFKH 9HULUUXQJ IDVW ]X HLQHU /HLGHQVFKDIW ZXUGH :RUDXI HU GDEHL VHLQH +RIIQXQJHQ JUQGHWH GDV ZDU VFKZHU DXV]XGHQNHQ YLHOOHLFKW VRJDU DXI *DQMDV HLJHQHQ %HLVWDQG 7R]NLM YHUPXWHWH ZHQLJVWHQV HWZDV 'HUDUWLJHV HU YHUPXWHWH GD HLQH EHLQDKH RKQH :RUWH DEJHVFKORVVHQH DXI JHJHQVHLWLJHP 9HUVWlQGQLV EHUXKHQGH 9HUDEUHGXQJ ]ZLVFKHQ GHP *HQHUDO XQG *DQMD EHVWHKH hEULJHQV LVW EHNDQQW GD HLQ 0HQVFK GHU LQ GHQ %DQQ HLQHU /HLGHQVFKDIW JHUlW QDPHQWOLFK ZHQQ HU VFKRQ EHL -DKUHQ LVW YROOVWlQGLJEOLQGZLUGXQGVLFK+RIIQXQJHQPDFKWZRIULKQ QLFKWGLHJHULQJVWH$XVVLFKWLVWMDDOOHVJHVXQGH8UWHLOYHUOLHUW XQG REZRKO VRQVW HLQ $XVEXQG YRQ .OXJKHLW QXQ ZLH HLQ W|ULFKWHV .LQG KDQGHOW 0DQ ZXWH GD GHU *HQHUDO YRUKDWWH 1DVWDVMD )LOLSSRZQD ]X LKUHP *HEXUWVWDJ HLQHQ ZXQGHUYROOHQ 3HUOHQVFKPXFN ]X VFKHQNHQ GHU HLQ JHZDOWLJHV *HOG NRVWHWH XQG VLFK YRQ GLHVHP *HVFKHQN YLHO YHUVSUDFK REJOHLFK HU 1DVWDVMD )LOLSSRZQDV 8QHLJHQQW]LJNHLW NDQQWH $P $EHQG YRU LKUHP *HEXUWVWDJ ZDU HU ZLH LP )LHEHU REZRKO HU VLFK JHVFKLFNW EHKHUUVFKWH 9RQ HEHQ GLHVHP 3HUOHQVFKPXFN KDWWH DXFK GLH *HQHUDOLQ -HSDQWVFKLQD JHK|UW $OOHUGLQJV KDWWH /LVDZHWD3URNRIMHZQDVFKRQVHLWOlQJHUHU=HLW3UREHQYRQGHU )ODWWHUKDIWLJNHLW LKUHV *DWWHQ JHKDEW XQG VLFK VRJDU ]XP 7HLO GDUDQ JHZ|KQW DEHU HLQH VROFKH *HOHJHQKHLW GXUIWH VLH QLFKW XQEHQXW]W YRUEHUJHKHQ ODVVHQ GDV *HUFKW YRQ GHP 3HUOHQVFKPXFN UHJWH VLH DXHURUGHQWOLFK DXI 'HU *HQHUDO PHUNWH GDV ]XP *OFN QRFK UHFKW]HLWLJ GD GLH *HQHUDOLQ VFKRQ DP $EHQG YRU GHP *HEXUWVWDJ HLQ SDDU $QVSLHOXQJHQ GDUDXI PDFKWH HU DKQWH GD GLH HLJHQWOLFKH $XVHLQDQGHUVHW]XQJ LKP QRFK EHYRUVWDQG XQG IUFKWHWH VLFK GDYRU 'LHV ZDU GHU *UXQG ZHVKDOE HU DQ GHP 0RUJHQ PLW GHP ZLU XQVHUH (U]lKOXQJ EHJRQQHQ KDEHQ VFKOHFKWHUGLQJV NHLQH /XVW YHUVSUWH LP .UHLVH GHU )DPLOLH VHLQ )UKVWFN HLQ]XQHKPHQ 1RFK ELV ]XU $QNXQIW GHV )UVWHQ ZDU HU HQWVFKORVVHQ JHZHVHQ VLFK PLW GULQJHQGHQ *HVFKlIWHQ ]X
HQWVFKXOGLJHQ XQG GHU 6DFKH DXV GHP :HJH ]X JHKHQ $XV GHP:HJHJHKHQEHGHXWHWHEHLGHP*HQHUDOPDQFKPDOQLFKWV DQGHUHV DOV GLH )OXFKW HUJUHLIHQ (U ZROOWH ZHQLJVWHQV GLHVHQ HLQHQ 7DJ XQG QDPHQWOLFK GHQ KHXWLJHQ $EHQG RKQH 8QDQQHKPOLFKNHLWHQ JHQLHHQ 'D VWHOOWH VLFK SO|W]OLFK ZLH JHUXIHQGHU)UVWHLQ¾'HQKDWPLU*RWWJHVDQGW½GDFKWHGHU *HQHUDOLPVWLOOHQDOVHU]XVHLQHU*HPDKOLQLQV=LPPHUWUDW 'LH *HQHUDOLQ ZDU DXI LKUH $EVWDPPXQJ VWRO] :LH PXWH LKU GD ]XPXWH VHLQ DOV VLH VR JHUDGH]X XQG RKQH DOOH 9RUEHUHLWXQJ K|UWH GD GLHVHU OHW]WH 6SU|OLQJ GHV 0\VFKNLQVFKHQ )UVWHQJHVFKOHFKWHV EHU GHQ LKU EHUHLWV HLQLJHV ]X 2KUHQ JHNRPPHQ ZDU QLFKWV ZHLWHU DOV HLQ NOlJOLFKHU ,GLRW XQG EHLQDK HLQ %HWWOHU VHL XQG $OPRVHQ DQQHKPH'HQQGHU*HQHUDOKDVFKWHEHLGHU6FKLOGHUXQJQDFK (IIHNWXPJOHLFKYRQYRUKHUHLQGDV,QWHUHVVHVHLQHU*DWWLQIU LKQ]XHUZHFNHQXQG LKUH *HGDQNHQ LUJHQGZLH LQ HLQH DQGHUH 5LFKWXQJ]XOHQNHQ %HLEHVRQGHUHQ(UHLJQLVVHQULGLH*HQHUDOLQJHZ|KQOLFKGLH $XJHQ VHKU ZHLW DXI ERJ GHQ 2EHUN|USHU HWZDV ]XUFN XQG EOLFNWHRKQHHLQ:RUW]XVDJHQVWDUUYRUVLFKKLQ6LHZDUHLQH KRFKJHZDFKVHQH )UDX YRQ JOHLFKHP $OWHU ZLH LKU 0DQQ PLW GXQNOHP JURHQWHLOV VFKRQ HUJUDXWHP DEHU QRFK GLFKWHP +DDU HWZDV JHNUPPWHU 1DVH PDJHU PLW JHOEHQ HLQJHIDOOHQHQ :DQJHQ XQG VFKPDOHQ ZHONHQ /LSSHQ ,KUH 6WLUQ ZDU KRFK DEHU QLFKW EUHLW GLH JUDXHQ ]LHPOLFK JURHQ $XJHQKDWWHQPLWXQWHUHLQHQUHFKWXQJHZ|KQOLFKHQ$XVGUXFN 6LH KDWWH IUKHU GLH 6FKZlFKH JHKDEW ]X JODXEHQ GD LKU %OLFNDXHURUGHQWOLFKHQ(IIHNWPDFKHXQGGLHVHhEHU]HXJXQJ ZDU LKU XQDXVURWWEDU YHUEOLHEHQ ª(PSIDQJHQ" 6LH VDJHQ LFK VROO LKQ HPSIDQJHQ MHW]W DXI GHU 6WHOOH"© 'DEHL UL GLH *HQHUDOLQ GLH $XJHQ DXI VRZHLW HV QXU JLQJ XQG EOLFNWH GHQ YRULKUDXIXQG DE JHKHQGHQ ,ZDQ )MRGRURZLWVFK DQ ª2K GX EUDXFKVW PLW LKP JDU NHLQH 8PVWlQGH ]X PDFKHQ OLHEH )UDX IDOOV GX EHUKDXSW /XVW KDVW LKQ ]X VHKHQ© EHHLOWH VLFK GHU
*HQHUDO HUOlXWHUQG KLQ]X]XIJHQ ª(U LVW GDV UHLQH .LQG XQG GDEHL VR EHPLWOHLGHQVZHUW HU OHLGHW DQ LUJHQGZHOFKHQ .UDQNKHLWVDQIlOOHQ HU NRPPW VRHEHQ DXV GHU 6FKZHL] GLUHNW YRQ GHU %DKQ WUlJW HLQHQ VRQGHUEDUHQ $Q]XJ ZRKO QDFK GHXWVFKHU$UWXQGKDWEHUGLHVEXFKVWlEOLFK NHLQH .RSHNH LQ VHLQHP%HVLW]HUZHLQWEHLQDK ,FKKDEHLKPIQIXQG]ZDQ]LJ 5XEHO JHVFKHQNW XQG ZLOO LKP EHL XQV LQ HLQHP %UR HLQH NOHLQH 6WHOOH DOV 6FKUHLEHU YHUVFKDIIHQ 8QG HXFK PHVGDPHV ELWWH LFK LKQ ]X EHZLUWHQ GD HU ZLH HV VFKHLQW DXFK UHFKW KXQJULJ LVW © ª6LH VHW]HQ PLFK LQ (UVWDXQHQ© HUZLGHUWH GLH *HQHUDOLQLQGHUVHOEHQ$UWZLH YRUKHU ªKXQJULJ XQG $QIlOOH :DV VLQG GHQQ GDV IU $QIlOOH"© ª2K VLH ZLHGHUKROHQ VLFK QLFKW RIW XQG EHUGLHV LVW HU VRQVW ZLH HLQ .LQG EULJHQV PDFKWHUGHQ (LQGUXFNHLQHV JHELOGHWHQ0HQVFKHQ ,FKZROOWH HXFK ELWWHQ PHVGDPHV© ZDQGWH HU VLFK ZLHGHU ]X VHLQHQ 7|FKWHUQªLKQHLQELFKHQ]XH[DPLQLHUHQHVZlUHGRFKJXW ZHQQ PDQ ZWH ZR]X HU ]X EUDXFKHQ LVW© ª([DPLQLH UHQ"©IUDJWHGLH*HQHUDOLQLQJHGHKQWHP7RQHXQGOLHK|FKVW HUVWDXQW LKUH $XJHQ ZLHGHU YRQ LKUHQ 7|FKWHUQ ]X LKUHP 0DQQHXQGXPJHNHKUWKLQXQGKHUUROOHQ ª$FKOLHEH)UDXVRPXWGXGDVQLFKWDXIIDVVHQEULJHQV JDQ] ZLH HV GLU EHOLHEW LFK ZROOWH LKP HLQH NOHLQH )UHXQGOLFKNHLW HUZHLVHQ XQG LKQ EHL XQV YHUNHKUHQ ODVVHQ GHQQ GDV LVW EHLQDKH HLQ JXWHV :HUN© ª%HL XQV YHUNHKUHQ ODVVHQ" $XV GHU 6FKZHL] NRPPW HU"© ª'LH 6FKZHL] NDQQ GDEHLQLFKWKLQGHUOLFKVHLQEULJHQVQRFKHLQPDOJDQ]ZLHGX ZLOOVW ,FK ZQVFKWH HV GHVZHJHQ ZHLO HU HUVWHQV GHLQ 1DPHQVYHWWHU XQG YLHOOHLFKW VRJDU HLQ 9HUZDQGWHU YRQ GLU LVW XQG ZHLO HU ]ZHLWHQV QLFKW ZHL ZR HU VHLQ +DXSW KLQOHJHQ VROO ,FK GDFKWH VRJDU GX ZUGHVW GLFK IU LKQ HLQ ZHQLJ LQWHUHVVLHUHQ GD HU MD GRFK ]X XQVHUHU )DPLOLH JHK|UW© ª6HOEVWYHUVWlQGOLFK PDPDQ ZHQQ ZLU PLW LKP NHLQH 8PVWlQGH]XPDFKHQEUDXFKHQ©VDJWH$OH[DQGUDGLHbOWHVWH hEHUGLHVZLUGHUYRQVHLQHU5HLVHKXQJULJVHLQZDUXPVROOHQ
ZLULKPGDQLFKWHWZDV]XHVVHQJHEHQZHQQHUQLFKWZHLZR HU EOHLEHQ VROO"© ª8QG REHQGUHLQ LVW HU GDV UHLQH .LQG PDQ NDQQ PLW LKP QRFK %OLQGHNXK VSLHOHQ© ª%OLQGHNXK VSLHOHQ" :LHVR"© ª$FK PDPDQ K|UHQ 6LH GRFK ELWWH DXI VLFK VR DQ]XVWHOOHQ©XQWHUEUDFK$JODMDVLHlUJHUOLFK 'LH 0LWWOHUH $GHODLGD HLQ ODFKOXVWLJHV 'LQJ NRQQWH VLFK QLFKW OlQJHU KDOWHQ XQG ODFKWH ORV ª5XIHQ 6LH LKQ KHU 3DSD PDPDQHUODXEWHV©HQWVFKLHG$JODMD 'HU*HQHUDONOLQJHOWHXQGJDE%HIHKOGHQ)UVWHQ]XUXIHQ ª$EHU QXU XQWHU GHU %HGLQJXQJ GD LKP MHGHQIDOOV HLQH 6HUYLHWWH XP GHQ +DOV JHEXQGHQ ZLUG ZHQQ HU VLFK DQ GHQ 7LVFKVHW]W©HUNOlUWHGLH*HQHUDOLQª5XIW)MRGRURGHU0DZUD HVVROOHLQHUKLQWHULKPVWHKHQXQGDXILKQDXISDVVHQZHQQ HU LW 9HUKlOW HU VLFK GHQQ ZHQLJVWHQV UXKLJ ZHQQ HU VHLQH $QIlOOHEHNRPPW"6FKOlJWHUQLFKWPLWGHQ$UPHQXPVLFK"© ª(ULVWVRJDULP*HJHQWHLOVHKUZRKOHU]RJHQXQGKDWVHKUJXWH 0DQLHUHQ(WZDV]XQDLY LVW HU PDQFKPDO $EHU GD LVW HU MD VHOEVW +LHU VWHOOH LFK HXFK GHQ )UVWHQ 0\VFKNLQ YRU GHQ /HW]WHQGLHVHV*HVFKOHFKWVHLQHQ1DPHQVYHWWHUXQGYLHOOHLFKW VRJDU 9HUZDQGWHQ QHKPW LKQ IUHXQGOLFK DXI (V ILQGHW VRJOHLFK GDV )UKVWFN VWDWW )UVW HUZHLVHQ 6LH XQV DOVR GLH (KUH0LFKDEHUHQWVFKXOGLJHQ6LHELWWHLFKKDEHPLFKVFKRQ YHUVSlWHWXQGPXPLFKEHHLOHQ© ª0DQZHLVFKRQZRKLQ 6LH HV VR HLOLJ KDEHQ© VDJWH GLH *HQHUDOLQ ZUGHYROO ª,FK PX HLOHQ LFK PX HLOHQ OLHEH )UDX LFK KDEH PLFK VFKRQ YHUVSlWHW *HEW LKP DXFK HXUH $OEXPV PHVGDPHV GDPLW HU HXFK HWZDV KLQHLQVFKUHLEW HU LVW HLQ .DOOLJUDSK ZLH PDQ LKQ VHOWHQILQGHW'RUWEHLPLULQPHLQHP$UEHLWV]LPPHUKDWHULQ DOWHUWPOLFKHU 6FKULIW JHVFKULHEHQ ¾'HU $EW 3DIQXWLM KDW GLHV HLJHQKlQGLJ XQWHU]HLFKQHW½ 1XQ DXI :LHGHUVHKHQ© ª3DIQXWLM" $EW" 6R ZDUWHQ 6LH GRFK ZDUWHQ 6LH GRFK ZRKLQ ZROOHQ 6LH GHQQ XQG ZDV LVW GDV IU HLQ 3DIQXWLM"© ULHI GLH *HQHUDOLQ HLJHQVLQQLJ lUJHUOLFK XQG EHLQDK LQ $XIUHJXQJ LKUHPGDYRQHLOHQGHQ*DWWHQQDFK
ª-DMDOLHEH)UDXGDVZDUVRHLQ$EWLQDOWHQ=HLWHQ$EHU LFKPX]XP*UDIHQHUZDUWHWDXIPLFKVFKRQODQJHXQGYRU DOOHQ 'LQJHQ HU KDW PLU GLH =HLW VHOEVW EHVWLPPW $XI :LHGHUVHKHQ)UVW© 'HU *HQHUDO HQWIHUQWH VLFK PLW VFKQHOOHQ 6FKULWWHQ ª,FK ZHL ]X ZHOFKHP *UDIHQ HU HV VR HLOLJ KDW© EHPHUNWH /LVDZHWD3URNRIMHZQDLQVFKDUIHP7RQXQGOHQNWHJHUHL]WLKUH %OLFNHDXIGHQ)UVWHQª-DZDVZDUGRFKJOHLFK"©EHJDQQVLH LQGHP VLH VLFK PUULVFK XQG lUJHUOLFK ]X HULQQHUQ VXFKWH ª:RYRQ UHGHWHQ ZLU QXU" $FK MD ZDV ZDU GDV IU HLQ $EW"© ª0DPDQ© EHJDQQ $OH[DQGUD XQG $JODMD VWDPSIWH VRJDU PLW GHP)FKHQª6W|UHQ6LHPLFKQLFKW$OH[DQGUD,ZDQRZQD© VFKDOW GLH *HQHUDOLQ ª,FK ZLOO GDV DXFK ZLVVHQ 6HW]HQ 6LH VLFK)UVWGD DXIGLHVHQ6HVVHOPLUJHJHQEHUQHLQKLHUKHU UFNHQ 6LH PHKU LQ GLH 6RQQH LQV /LFKW GDPLW LFK 6LH VHKHQ NDQQ1XQDOVRZDVZDUGDVIUHLQ$EW"©ª'HU$EW3DIQXWLM© DQWZRUWHWHGHU)UVWDXIPHUNVDPXQGHUQVWª3DIQXWLM"'DVLVW LQWHUHVVDQWDOVRZDVZDUPLWLKP"© 'LH *HQHUDOLQ IUDJWH XQJHGXOGLJ VFKQHOO LQ VFKDUIHP 7RQ RKQH GLH $XJHQ YRQ GHP )UVWHQ ZHJ]XZHQGHQ XQG DOV GHU )UVW DQWZRUWHWH QLFNWH VLH ]X MHGHP VHLQHU :RUWH PLW GHP .RSIH ª'HU $EW 3DIQXWLM OHEWH LP YLHU]HKQWHQ -DKUKXQGHUW© EHJDQQ GHU )UVW ª(U VWDQG HLQHP .ORVWHU DQ GHU :ROJD YRU LQ XQVHUHP MHW]LJHQ *RXYHUQHPHQW .RVWURPD (U ZDU GXUFK VHLQIURPPHV/HEHQZHLWXQGEUHLWEHNDQQWHUUHLVWHDXFK]XU *ROGHQHQ +RUGH KDOI GLH GDPDOV VFKZHEHQGHQ $QJHOHJHQKHLWHQ RUGQHQ XQG XQWHU]HLFKQHWH HLQ 6FKULIWVWFN YRQ GLHVHU 8QWHUVFKULIW KDEH LFK HLQ )DNVLPLOH JHVHKHQ 'LH 6FKULIW JHILHO PLU XQG LFK EWH PLFK LQ LKU $OV GHU *HQHUDO YRUKLQ VHKHQ ZROOWH ZLH LFK VFKUHLEH XP PLU HLQH SDVVHQGH 6WHOOXQJDQ]XZHLVHQVFKULHELFKHLQLJH6lW]HLQYHUVFKLHGHQHQ 6FKULIWJDWWXQJHQQLHGHUXQGXQWHUDQGHUPDXFKGHQ6DW]¾'HU $EW3DIQXWLMKDWGLHVHLJHQKlQGLJXQWHU]HLFKQHW½LQGHU6FKULIW GHV$EWHV3DIQXWLM'DVJHILHOGHP*HQHUDOVHKUXQGVRKDWHU
HV GHQQ MHW]W HUZlKQW© ª$JODMD© VDJWH GLH *HQHUDOLQ ªPHUN HV GLU 3DIQXWLM 2GHU QRWLHU HV GLU OLHEHU LFK YHUJHVVH GHUJOHLFKHQ VRQVW LPPHU hEULJHQV KDWWH LFK JHGDFKW GLH 6DFKH ZUGH LQWHUHVVDQWHU VHLQ :R LVW GHQQ GLHVH 8QWHUVFKULIW"© ª,FK JODXEH VLH LVW LP $UEHLWV]LPPHU GHV *HQHUDOV JHEOLHEHQ DXI GHP 7LVFK© ª6FKLFNW GRFK JOHLFK MHPDQGKLQXQGODWVLHKHUKROHQ©ª,FKZHUGHVLH,KQHQOLHEHU QRFK HLQPDO VFKUHLEHQ ZHQQ HV ,KQHQ UHFKW LVW© ª*HZL PDPDQ©VDJWH$OH[DQGUDªDEHUMHW]WZlUHHVGDVEHVWHZHQQ ZLUIUKVWFNWHQZLUVLQGKXQJULJ©ª$XFKGDV©HUZLGHUWHGLH *HQHUDOLQ ª.RPPHQ 6LH )UVW KDEHQ 6LH JURHQ +XQJHU"© ª-D LFK KDEH MHW]W DOOHUGLQJV JURHQ +XQJHU XQG VDJH ,KQHQ PHLQHQ EHVWHQ 'DQN© ª'DV LVW VHKU QHWW GD 6LH VR K|IOLFK VLQG XQG LFK ILQGH GD 6LH EHUKDXSW QLFKW VR HLQ 6RQGHUOLQJ VLQG ZLH PDQ 6LH XQV JHVFKLOGHUW KDW .RPPHQ 6LH6HW]HQ6LHVLFKKLHUKHUPLUJHJHQEHU©VDJWHVLHDOVVLH LQV (]LPPHU JHNRPPHQ ZDUHQ JHVFKlIWLJ XQG Q|WLJWH GHQ )UVWHQ ]XP 6LW]HQ ª,FK P|FKWH 6LH JHUQ DQVHKHQ N|QQHQ $OH[DQGUD $GHODLGD VRUJW LKU EHLGH IU GHQ )UVWHQ 1LFKW ZDKU HU LVW JDU QLFKW VR NUDQN" 9LHOOHLFKW LVW DXFK GLH 9RUVLFKWVPDUHJHO PLW GHU 6HUYLHWWH QLFKW Q|WLJ +DW PDQ ,KQHQ EHLP (VVHQ HLQH 6HUYLHWWH XPJHEXQGHQ )UVW"© ª)UKHU DOV LFK HWZD VLHEHQ -DKUH DOW ZDU KDW PDQ GDV ZRKO JHWDQDEHUMHW]WOHJHLFKPLUGLH6HUYLHWWHJHZ|KQOLFKDXIGLH .QLH ZHQQ LFK HVVH© ª6R LVW GDV DXFK LQ GHU 2UGQXQJ 8QG ,KUH $QIlOOH"© ª$QIlOOH"© IUDJWH GHU )UVW HLQ ZHQLJ YHUZXQGHUWª$QIlOOHNRPPHQMHW]WEHLPLUQXUVHKUVHOWHQYRU hEULJHQVLFKZHLQLFKWHVZLUGPLUJHVDJWGDVKLHVLJH.OLPD ZHUGH PLU VFKlGOLFK VHLQ© ª(U VSULFKW JXW© EHPHUNWH GLH *HQHUDOLQ]XLKUHQ7|FKWHUQVLHQLFNWHLPPHU QRFK ]X MHGHP :RUWH GHV )UVWHQ PLW GHP .RSI ªLFK KDWWH GDV JDU QLFKW HUZDUWHW (V ZDU DOVR ZLH JHZ|KQOLFK QXU GXPPHV =HXJ XQG 8QZDKUKHLW (VVHQ 6LH )UVW XQG HU]lKOHQ 6LH ZR 6LH JHERUHQXQGZR6LHHU]RJHQVLQG,FKP|FKWHDOOHVZLVVHQ6LH
LQWHUHVVLHUHQPLFKJDQ]DXHURUGHQWOLFK© 'HU)UVWEHGDQNWHVLFKXQGZlKUHQGHUPLWJURHP$SSHWLW D EHJDQQ HU YRQ QHXHP DOO GDV PLW]XWHLOHQ ZRYRQ HU DQ GLHVHP0RUJHQVFKRQPHKUPDOV]XUHGHQ$QODJHKDEWKDWWH 'LH *HQHUDOLQ ]HLJWH VLFK LPPHU PHKU EHIULHGLJW $XFK GLH MXQJHQ 'DPHQ K|UWHQ UHFKW DXIPHUNVDP ]X 0DQ VXFKWH GLH 9HUZDQGWVFKDIWIHVW]XVWHOOHQZREHLVLFKKHUDXVVWHOOWHGDGHU )UVW VHLQHQ 6WDPPEDXP ]LHPOLFK JXW LP .RSI KDWWH DEHU WURW] DOOHU %HPKXQJHQ ZROOWH VLFK ]ZLVFKHQ LKP XQG GHU *HQHUDOLQ NHLQHUOHL 9HUZDQGWVFKDIW HUJHEHQ 1XU ]ZLVFKHQ GHQ EHLGHUVHLWLJHQ *URYlWHUQ XQG *URPWWHUQ KlWWH VLFK DOOHQIDOOV HLQH HQWIHUQWH 9HUZDQGWVFKDIW DQQHKPHQ ODVVHQ 'LHVHU WURFNHQH *HVSUlFKVVWRII JHILHO GHU *HQHUDOLQ JDQ] DXVQHKPHQG GD VLH IDVW QLH *HOHJHQKHLW KDWWH YRQ LKUHP 6WDPPEDXP]XVSUHFKHQREZRKOVLHGDVVHKUJHUQWDWXQGDOV VLH YRP 7LVFK DXIVWDQG EHIDQG VLH VLFK LQ DQJHUHJWHU 6WLPPXQJ ª:LU ZROOHQ MHW]W DOOH LQ XQVHU *HVHOOVFKDIWV]LPPHU JHKHQ© VDJWH VLH ªXQG DXFK GHU .DIIHH VROO GRUWKLQ JHEUDFKW ZHUGHQ :LU KDEHQ HLQ VROFKHV JHPHLQVDPHV =LPPHU© ZDQGWH VLH VLFK DQ GHQ )UVWHQ GHQ VLH IKUWH ª(V LVW JDQ] HLQIDFK PHLQ NOHLQHU 6DORQ ZR ZLU ZHQQ NHLQ %HVXFK GD LVW XQV ]XVDPPHQILQGHQ XQG MHGH YRQ XQV VLFK LQ LKUHU :HLVH EHVFKlIWLJW $OH[DQGUD KLHU PHLQH lOWHVWH 7RFKWHU VSLHOW .ODYLHU RGHU OLHVW RGHU VWLFNW $GHODLGD PDOW/DQGVFKDIWHQXQG3RUWUlWVVLHZLUGQXUPLWQLFKWVIHUWLJ XQG$JODMDVLW]WGDXQGWXWQLFKWV0LUJHKWGLH$UEHLWHEHQIDOOV QLFKW YRQVWDWWHQ HV NRPPW QLFKWV 2UGHQWOLFKHV KHUDXV 1XQ VHKHQ 6LH GD VLQG ZLU VHW]HQ 6LH VLFK KLHUKHU )UVW DQ GHQ .DPLQXQGHU]lKOHQ6LH,FKP|FKWHJHUQZLVVHQZLH6LH]X HU]lKOHQ YHUVWHKHQ ,FK P|FKWH JDQ] JHQDXH .HQQWQLV YRQ DOOHP HUODQJHQ XQG ZHQQ LFK GDQQ PLW GHU DOWHQ )UVWLQ %MHORNRQVNDMD ]XVDPPHQNRPPH ZLOO LFK LKU YLHO YRQ ,KQHQ HU]lKOHQ,FKP|FKWHGDDOOH/HXWHHEHQIDOOVIU6LH,QWHUHVVH JHZLQQHQ 1XQ DOVR UHGHQ 6LH© ª$EHU PDPDQ HV LVW GRFK
VHKU VRQGHUEDU VR DXI %HIHKO HU]lKOHQ ]X PVVHQ© EHPHUNWH $GHODLGDGLHXQWHUGHVVHQLKUH6WDIIHOHL]XUHFKWJHUFNW3LQVHO XQG 3DOHWWH ]XU +DQG JHQRPPHQ KDWWH XQG QXQ DQILQJ HLQH VFKRQ YRU OlQJHUHU =HLW EHJRQQHQH /DQGVFKDIW QDFK HLQHP .XSIHUVWLFK]XNRSLHUHQ $OH[DQGUD XQG $JODMD VHW]WHQ VLFK QHEHQHLQDQGHU DXI HLQ NOHLQHV 6RID OHJWHQ GLH +lQGH ]XVDPPHQ XQG PDFKWHQ VLFK EHUHLW GDV *HVSUlFK PLW DQ]XK|UHQ 'HU )UVW EHPHUNWH GD VLFK YRQ DOOHQ 6HLWHQ HLQH JHVSDQQWH $XIPHUNVDPNHLW DXI LKQ ULFKWHWH ª,FK ZUGH QLFKWV HU]lKOHQ ZHQQ HV PLU DXI VROFKH :HLVHEHIRKOHQZUGH©EHPHUNWH$JODMDª:DUXPGHQQ":DV LVW GHQQ GDEHL ZHLWHU VRQGHUEDU" :DUXP VROO HU GHQQ QLFKW HU]lKOHQ":R]XKDWHUGHQQVHLQH=XQJH",FKZLOOZLVVHQZLH HU ]X UHGHQ YHUVWHKW 6SUHFKHQ 6LH DOVR ZRUEHU 6LH ZROOHQ (U]lKOHQ6LHZLH,KQHQGLH6FKZHL]JHIDOOHQKDWZHOFKHVGHU HUVWH (LQGUXFN JHZHVHQ LVW ,KU ZHUGHW VHKHQ HU ZLUG XQYHU]JOLFK DQIDQJHQ XQG VHKU KEVFK HU]lKOHQ© ª'HU HUVWH (LQGUXFN ZDU VHKU VWDUN© EHJDQQ GHU )UVW ª6HKW LKU ZRKO© XQWHUEUDFK LKQ GLH XQJHGXOGLJH /LVDZHWD 3URNRIMHZQD ]X LKUHQ7|FKWHUQJHZHQGHWªHUKDWVFKRQDQJHIDQJHQ© ª/DVVHQ 6LHLKQGRFKZHQLJVWHQVVSUHFKHQPDPDQ©VFKDOW$OH[DQGUD ª'LHVHU )UVW LVW YLHOOHLFKW HLQ DUJHU 6FKHOP XQG JDU NHLQ ,GLRW© IOVWHUWH VLH LKUHU 6FKZHVWHU $JODMD ]X ª+|FKVWZDKUVFKHLQOLFKYHUKlOWHVVLFKVRLFKPHUNHGDVVFKRQ ODQJH©YHUVHW]WH$JODMDª(VLVWKlOLFKYRQLKPXQVVRHLQH 5ROOH YRU]XVSLHOHQ +RIIW HU HWZD GDGXUFK LQ XQVHUHQ $XJHQ ]XJHZLQQHQ"©ª'HUHUVWH(LQGUXFNZDUVHKUVWDUN©VDJWHGHU )UVW QRFK HLQPDO ª$OV PDQ PLFK DXV 5XODQG ZHJEUDFKWH XQGZLUGXUFKYHUVFKLHGHQHGHXWVFKH6WlGWHIXKUHQEOLFNWHLFK DOOHVQXUVFKZHLJHQGDQXQGHUNXQGLJWHPLFKVRYLHOLFKPLFK HULQQHUQNDQQQDFKQLFKWV'DVZDUQDFK HLQHU 5HLKH VWDUNHU TXDOYROOHU$QIlOOHPHLQHU.UDQNKHLWMHGHQIDOOVDEHUZHQQGLH .UDQNKHLW VLFK LQ GLHVHU :HLVH VWHLJHUWH XQG GLH $QIlOOH PHKUPDOVKLQWHUHLQDQGHUHUIROJWHQYHUILHOLFKLQYROOVWlQGLJHQ
6WXPSIVLQQ YHUORU JlQ]OLFK GDV *HGlFKWQLV XQG ZHQQ DXFK GHU 9HUVWDQG QRFK ZHLWHUDUEHLWHWH VR ZDU GRFK GLH ORJLVFKH $XIHLQDQGHUIROJH GHU *HGDQNHQ DQVFKHLQHQG XQWHUEURFKHQ 0HKU DOV ]ZHL RGHU GUHL *HGDQNHQ YHUPRFKWH LFK QLFKW IROJHULFKWLJ PLWHLQDQGHU ]X YHUNQSIHQ 6R LVW PLU GDV LQ (ULQQHUXQJ $OV GDQQ DEHU GLH $QIlOOH QDFKOLHHQ ZXUGH LFK ZLHGHU JHVXQG XQG NUlIWLJ ZLH MHW]W ,FK ZHL QRFK GD GLH 7UDXULJNHLWGLHPLFKHUIOOWHJDQ]XQHUWUlJOLFKZDULFKKlWWH DP OLHEVWHQ ORVJHZHLQW LFK EHIDQG PLFK GDXHUQG LQ JU|WHU (UUHJXQJ XQG 8QUXKH (LQHQ IXUFKWEDUHQ (LQGUXFN PDFKWH HV DXIPLFKGDGLHVDOOHVPLUIUHPGZDUGHQQVRYLHOEHJULIILFK 'DV )UHPGH GUFNWH PLFK QLHGHU $EHU GDUDQ HULQQHUH LFK PLFKDXIVGHXWOLFKVWH LFKHUZDFKWHHLQHV$EHQGVLQ%DVHOEHL GHU $QNXQIW LQ GHU 6FKZHL] Y|OOLJ DXV GLHVHU JHLVWLJHQ 8PQDFKWXQJ XQG ZDV PLFK HUZHFNWH GDV ZDU GDV *HVFKUHL HLQHV(VHOVDXIGHP0DUNWSODW]'LHVHU(VHOZDUIUPLFKHLQH JURDUWLJH hEHUUDVFKXQJ XQG JHILHO PLU DXV QLFKW UHFKW YHUVWlQGOLFKHQ *UQGHQ DXHURUGHQWOLFK XQG JOHLFK]HLWLJ ZXUGH LQ PHLQHP .RSI VR]XVDJHQ DOOHV DXI HLQPDO ZLHGHU KHOO© ª(LQ(VHO"'DVLVWVRQGHUEDU© EHPHUNWH GLH *HQHUDOLQ hEULJHQVHLJHQWOLFKLVWGDEHLQLFKWV6RQGHUEDUHVGLHHLQHRGHU GLH DQGHUH YRQ XQV ZLUG VLFK QRFK LQ HLQHQ (VHO YHUOLHEHQ© IJWHVLHKLQ]XXQGEOLFNWHGLHODFKHQGHQ0lGFKHQ]RUQLJDQ ª'DVLVWDOOHVVFKRQLQGHU0\WKRORJLHYRUJHNRPPHQ)DKUHQ 6LH IRUW )UVW© ª6HLWGHP OLHEH LFK (VHO VHKU ,FK KDEH VRJDU HLQH JHZLVVH 6\PSDWKLH IU VLH ,FK EHJDQQ PLFK QDFK LKQHQ ]XHUNXQGLJHQGHQQLFKKDWWHIUKHUQRFKQLHZHOFKHJHVHKHQ XQG EHU]HXJWH PLFK DXFK EDOG VHOEVW GDYRQ GD VLH K|FKVW QW]OLFKH DUEHLWVDPH NUlIWLJH JHGXOGLJH ELOOLJ ]X XQWHUKDOWHQGH DXVGDXHUQGH7LHUHVLQGXQGZHJHQGLHVH (VHOV ILQJPLUDXIHLQPDOGLH JDQ]H6FKZHL]]XJHIDOOHQDQ VR GD PHLQHIUKHUH7UDXULJNHLWYROOVWlQGLJYHUVFKZDQG©ª'DVDOOHV LVW MD VHKU VHOWVDP DEHU GDV YRQ GHP (VHO NRQQWH DXFK ZHJEOHLEHQ JHKHQ ZLU QXQ ]X HLQHP DQGHUHQ 7KHPD EHU
:DUXP ODFKVW GX GHQQ IRUWZlKUHQG $JODMD" 8QG GX $GHODLGD" 'HU )UVW KDW GLH *HVFKLFKWH YRQ GHP (VHO VHKU VFK|QHU]lKOW(UKDWVHOEVWHLQHQJHVHKHQDEHUGXZDVKDVWGX JHVHKHQ"'XELVWGRFKQLFKWLP$XVODQGJHZHVHQ© ª,FKKDEH VFKRQHLQHQ(VHO JHVHKHQPDPDQ©YHUVHW]WH$GHODLGD ª8QG LFK KDEH VFKRQ HLQHQ JHK|UW© IJWH $JODMD KLQ]X $OOH GUHL EUDFKHQ ZLHGHU LQ HLQ *HOlFKWHU DXV LQ GDV GHU )UVW HLQVWLPPWH ª'DV LVW VHKU KlOLFK YRQ HXFK© VFKDOW GLH *HQHUDOLQ ª1HKPHQ 6LH HV LKQHQ QLFKW EHO )UVW VLH VLQG VRQVWJXWH0lGFKHQ,FK]DQNHIRUWZlKUHQGPLWLKQHQKDEHVLH DEHU GRFK VHKU OLHE 6LH VLQG QXU IODWWHUKDIW OHLFKWVLQQLJ XQG HLQ ELFKHQ YHUGUHKW© ª$EHU ZDV VROOWH LFK GHQQ EHOQHKPHQ"©HUZLGHUWHGHU)UVWODFKHQGª$XFKLFKKlWWHGLH *HOHJHQKHLW]XODFKHQQLFKWXQEHQXW]WJHODVVHQ$EHULFKWUHWH WURW]GHP IU GHQ (VHO HLQ GHU (VHO LVW HLQ JXWKHU]LJHV QW]OLFKHV *HVFK|SI© ª6LQG 6LH GHQQ DXFK JXWKHU]LJ )UVW" ,FKIUDJHDXVZLUNOLFKHP,QWHUHVVH©IUDJWHGLH*HQHUDOLQ $OOH ODFKWHQ ZLHGHU ORV ª'D LVW LKQHQ ZLHGHU GLHVHU QLFKWVZUGLJH (VHO HLQJHIDOOHQ LFK KDWWH JDU QLFKW DQ LKQ JHGDFKW©ULHIGLH*HQHUDOLQª%LWWHJODXEHQ6LHPLU)UVWLFK EHDEVLFKWLJWH NHLQHUOHL © ª.HLQHUOHL $QVSLHOXQJ" 2K GDV JODXEHLFK,KQHQJHUQRKQH=ZHLIHO© 'HU )UVW ODFKWH RKQH DXI]XK|UHQ ª'DV LVW VHKU QHWW YRQ ,KQHQGD6LH ODFKHQ ,FK VHKH GD 6LH HLQ UHFKW JXWKHU]LJHU MXQJHU0DQQVLQG©VDJWHGLH*HQHUDOLQ ª0DQFKPDO ELQ LFK QLFKW JXWKHU]LJ© HUZLGHUWH GHU )UVW ª$EHU LFK KDEH HLQ JXWHV +HU]© EHPHUNWH GLH *HQHUDOLQ EHUUDVFKHQGHUZHLVH ªLFK NDQQ VRJDU VDJHQ GD LFK LPPHU JXWKHU]LJELQXQGGDVLVWPHLQHLQ]LJHU)HKOHUGHQQPDQGDUI QLFKW LPPHU JXWKHU]LJ VHLQ ,FK lUJHUH PLFK VHKU RIW EHU PHLQH 7|FKWHU GD XQG EHVRQGHUV EHU ,ZDQ )MRGRURZLWVFK DEHU HV LVW VFKHXOLFK GD LFK JHUDGH ZHQQ LFK PLFK lUJHUH DP DOOHUJXWKHU]LJVWHQ ELQ ,FK ZDU YRUKLQ YRU ,KUHU $QNXQIW UHFKWE|VHJHZRUGHQXQGVWHOOWHPLFKDOVYHUVWQGHLFKQLFKW
ZDV PDQ ]X PLU VDJWH XQG ZROOH HV QLFKW YHUVWHKHQ 'DV NRPPWEHLPLU|IWHUYRULFKELQGDULQZLHHLQ.LQG$JODMDKDW PLFK GHVZHJHQ DXVJHVFKROWHQ XQG LFK GDQNH GLU $JODMD hEULJHQVLVWGDVDOOHV8QVLQQ,FKELQQLFKWVRGXPPZLHLFK VFKHLQH XQG ZLH PLFK PHLQH OLHEHQ 7|FKWHU JHUQ GDUVWHOOHQ P|FKWHQ ,FK KDEH HLQHQ HQHUJLVFKHQ &KDUDNWHU XQG KDOWH PLW PHLQHU0HLQXQJQLFKWKLQWHUGHP%HUJ,FKVDJHGDVEULJHQV DOOHVRKQH*UROO.RPPKHU$JODMDXQGJLEPLUHLQHQ.X QXQQXQJHQXJGHU=lUWOLFKNHLW©EHPHUNWHVLHDOV$JODMDLKU KHU]OLFKGHQ0XQGXQGGLH+DQGNWH ª)DKUHQ6LHQXU IRUW )UVW 9LHOOHLFKW HULQQHUQ 6LH VLFK QRFK DQ HWZDV ZDV LQWHUHVVDQWHU LVW DOV GHU (VHO© ª,FK NDQQ WURW] DOOHGHP QLFKW EHJUHLIHQ ZLH MHPDQG VR JHUDGH]X ORVHU]lKOHQ NDQQ© VDJWH $GHODLGD QRFK HLQPDO ª,FK EUlFKWH GDV QLFKW IHUWLJ© ª$EHU GHU )UVW EULQJW HV IHUWLJ ZHLO GHU )UVW HEHQ EHUDXV YHUVWlQGLJ PLQGHVWHQV ]HKQPDO RGHU YLHOOHLFKW ]Z|OIPDO VR YHUVWlQGLJ LVW ZLH GX +RIIHQWOLFK IKOVW GX GDV QXQ VHOEVW /LHIHUQ6LHLKQHQGHQ%HZHLV)UVWIDKUHQ6LHIRUW'HQ(VHO N|QQHQZLUQXQDEHUZLUNOLFKHQGOLFKEHLVHLWHODVVHQ1XQZDV KDEHQ 6LH DXHU GHP (VHO LP $XVODQG JHVHKHQ"© ª$XFK GDV YRQGHP(VHOZDUYHUVWlQGLJ©VDJWH$OH[DQGUDª'HU)UVWKDW VHKULQWHUHVVDQWVHLQHQ.UDQNKHLWV]XVWDQGJHVFKLOGHUWXQGZLH LKP LQIROJH HLQHV lXHUHQ $QVWRHV DOOHV ZLHGHU ]X JHIDOOHQ DQILQJ 0LU LVW HV LPPHU LQWHUHVVDQW JHZHVHQ ZLH 0HQVFKHQ GHQ 9HUVWDQG YHUOLHUHQ XQG GDQQ ZLHGHU JHVXQG ZHUGHQ 1DPHQWOLFKZHQQGDVSO|W]OLFKHUIROJW© ª1LFKW ZDKU" 1LFKW ZDKU"© VDJWH GLH *HQHUDOLQ HLIULJ ª,FK VHKHGDDXFKGXPDQFKPDOYHUVWlQGLJELVW1DQXQKDEWLKU DEHU JHQXJ JHODFKW 6LH EOLHEHQ MD ZRKO EHL GHP ODQGVFKDIWOLFKHQ (LQGUXFN GHU 6FKZHL] VWHKHQ )UVW $OVR ELWWH© ª:LU NDPHQ LQ /X]HUQ DQ XQG IXKUHQ GDQQ EHU GHQ 6HH ,FK HPSIDQG ZLH VFK|Q HU ZDU IKOWH PLFK DEHU GDEHL HQWVHW]OLFK EHGUFNW© VDJWH GHU )UVW ª:DUXP"© IUDJWH $OH[DQGUD ª,FKYHUVWHKH HVQLFKW ,FK IKOHPLFKEHLPHUVWHQ
$QEOLFN VROFKHU 1DWXUVFK|QKHLWHQ MHGHVPDO EHGUFNW XQG XQUXKLJ HV LVW HLQH DXV 9HUJQJHQ XQG 8QUXKH JHPLVFKWH (PSILQGXQJ hEULJHQV KLQJ GDV DOOHV QRFK PLW PHLQHU .UDQNKHLW ]XVDPPHQ© ª$FK LFK P|FKWH GDV ]X JHUQ HLQPDO VHKHQ© VDJWH $GHODLGD ª8QG LFK EHJUHLIH QLFKW ZDUXP ZLU QLFKW HQGOLFK HLQPDO LQV $XVODQG UHLVHQ ,FK NDQQ VFKRQ VHLW ]ZHL-DKUHQNHLQHQ9RUZXUIIUHLQ%LOGILQGHQ ¾2VWXQG6GVLQGOlQJVWJHVFKLOGHUW½ 6XFKHQ 6LH PLU GRFK HLQHQ 9RUZXUI IU HLQ %LOG )UVW© ª,FK YHUVWHKH GDYRQ QLFKWV $EHU LFK P|FKWH PHLQHQ HV LVW ZHLWHU QLFKWV HUIRUGHUOLFK DOV ]X VHKHQ XQG GDQQ ]X PDOHQ© ª=XVHKHQYHUVWHKHLFKHEHQQLFKW© ª$EHULQZDVIU5lWVHOQ VSUHFKW LKU GHQQ GD" ,FK YHUVWHKH HXFK MD JDU QLFKW© XQWHUEUDFK VLH GLH *HQHUDOLQ ª:DV KHLW GDV ¾=X VHKHQ YHUVWHKHLFKQLFKW"½'XKDVWGRFK$XJHQQXQGDQQVLHKGRFK :HQQ GX KLHU QLFKW ]X VHKHQ YHUVWHKVW ZLUVW GX HV DXFK LP $XVODQG QLFKW OHUQHQ (U]lKOHQ 6LH OLHEHU ZDV 6LH VHOEVW JHVHKHQKDEHQ)UVW© ª-DGDVZLUGGDVEHVWHVHLQ©VWLPPWH LKU$GHODLGDEHLª'HU)UVWKDWMDLP$XVODQGVHKHQJHOHUQW© ª'DV ZHL LFK QLFKW LFK KDEH GRUW QXU PHLQH *HVXQGKHLW JHEHVVHUW LFK ZHL QLFKW RE LFK GD DXFK VHKHQ JHOHUQW KDEH ,FK ELQ EULJHQV GRUW IDVW GLH JDQ]H =HLW EHU VHKU JOFNOLFK JHZHVHQ© ª*OFNOLFK 6LH YHUVWHKHQ HV JOFNOLFK ]X VHLQ"© ULHI $JODMD ª:DUXP VDJHQ 6LH GDQQ GD 6LH GD QLFKW VHKHQ JHOHUQW KDEHQ" 6LH ZHUGHQ LQ GLHVHU .XQVW QRFK XQVHU /HKUHU ZHUGHQ© ª$FK MD ELWWH OHKUHQ 6LH XQV© ULHI $GHODLGD ODFKHQG ª,FK NDQQ 6LH QLFKWV OHKUHQ© YHUVHW]WH GHU )UVW JOHLFKIDOOV ODFKHQG ª,FK KDEH IDVW GLH JDQ]H =HLW PHLQHV $XIHQWKDOWV LP $XVODQGH LQ GLHVHP 6FKZHL]HU 'RUI YHUOHEW QXUVHOWHQPDFKWHLFKHLQHQNOHLQHQ$XVIOXJZDVNDQQLFK6LH GDOHKUHQ"$QIDQJVEHVFKUlQNWHVLFKGLH%HVVHUXQJGDUDXIGD GDV *HIKO GHV 0LPXWV DXIK|UWH DEHU EDOG ILQJ LFK DQ ]X
$XVGHP*HGLFKW¾-RXUQDOLVW/HVHUXQG'LFKWHU½YRQ/HUPRQWRZ
JHQHVHQ GDQQ ZXUGH PLU MHGHU 7DJ OLHEHU XQG WHXUHU VR GD LFKGLHVVHOEVW]XEHPHUNHQEHJDQQ,FKOHJWHPLFKLPPHUVHKU ]XIULHGHQ VFKODIHQ XQG IKOWH PLFK QRFK JOFNOLFKHU EHLP $XIVWHKHQ $EHU ZRKHU GDV NDP GDV LVW DOOHUGLQJV UHFKW VFKZHU]XHUNOlUHQ© ª6LHZDUHQDOVRVR]XIULHGHQGD6LHDQ NHLQHQDQGHUHQ2UWZROOWHQ VLFK VRQVW QLUJHQGZR KLQJH]RJHQ IKOWHQ"© IUDJWH $OH[DQGUD ª=XHUVW JDQ] DP $QIDQJ VHKQWH LFKPLFKZHJMDXQGLFKYHUILHOLQ JURH8QUXKH ,FK GDFKWH LPPHU GDUEHU QDFK ZLH LFK PLU PHLQ /HEHQ HLQULFKWHQ N|QQWH XQG VXFKWH PHLQ NQIWLJHV 6FKLFNVDO ]X HUNHQQHQ EHVRQGHUV ]X JHZLVVHQ =HLWHQ ZDU LFK VHKU XQUXKLJ 6LH ZLVVHQ HV JLEW VROFKH $XJHQEOLFNH QDPHQWOLFK ZHQQ PDQ JDQ]DOOHLQLVW:LUKDWWHQGRUWHLQHQNOHLQHQ:DVVHUIDOOHUILHO KRFK YRP %HUJH KHUDE ZLH HLQ GQQHU )DGHQ IDVW VHQNUHFKW ZHL JHUlXVFKYROO VFKlXPHQG HU ILHO KRFK KHUXQWHU XQG VFKLHQGRFK]LHPOLFKQLHGULJ]XVHLQHUZDUHLQHKDOEH:HUVW HQWIHUQW XQG HV NDP HLQHP YRU DOV RE HV ELV ]X LKP QXU IQI]LJ 6FKULWWH ZlUHQ ,FK KRUFKWH EHL 1DFKW JHUQ DXI VHLQ 5DXVFKHQGDVZDUHQGLH$XJHQEOLFNHLQGHQHQLFKPDQFKPDO LQVHKUJURH8QUXKHJHULHW(EHQVRJLQJHVPLUPDQFKPDOXP GLH 0LWWDJV]HLW LFK VWLHJ LUJHQGZRKLQ LQ GLH %HUJH XQG VWDQG GRUWGDQQDOOHLQULQJVXPDOWHJURHKDU]LJH7DQQHQREHQDXI HLQHP )HOVHQ GLH 5XLQHQ HLQHU DOWHQ PLWWHODOWHUOLFKHQ %XUJ XQVHU '|UIFKHQ XQWHQ LQ GHU )HUQH NDXP VLFKWEDU GLH 6RQQH EUDQQWHGHU+LPPHOZDUWLHIEODXHVKHUUVFKWHHLQHIXUFKWEDUH 6WLOOH,QVROFKHQ$XJHQEOLFNHQ]RJHVPLFKPLWXQWHUZHJXQG LFK KDWWH LPPHU GLH 9RUVWHOOXQJ ZHQQ LFK QXU LPPHU JHUDGHDXV JHKHQ N|QQWH LPPHU ZHLWHU XQG ZHLWHU XQG GLH /LQLH EHUVFKUHLWHQ N|QQWH ZR +LPPHO XQG (UGH HLQDQGHU EHUKUHQ GD ZUGH VLFK MHGHV 5lWVHO O|VHQ XQG LFK ZUGH VRIRUW HLQ QHXHV /HEHQ HUEOLFNHQ HLQ /HEHQ GDV WDXVHQGPDO IULVFKHU XQG OlUPHQGHU LVW DOV GDV XQVHUH LFK PDOWH PLU HLQH JURH 6WDGW DXV ZLH 1HDSHO XQG GDULQ ODXWHU 3DOlVWH /lUP *HW|VH/HEHQ-DLQZDVIU3KDQWDVLHQHUJLQJLFKPLFKGD
$EHU GDQQ VFKLHQ HV PLU HLQ DQGHUPDO GD PDQ DXFK LP *HIlQJQLV HLQ UHLFKHV /HEHQ IKUHQ N|QQH© ª'LHVHQ OHW]WHQ O|EOLFKHQ *HGDQNHQ KDEH LFK VFKRQ DOV LFK ]Z|OI -DKUH DOW ZDU LQ PHLQHP /HVHEXFK JHOHVHQ© EHPHUNWH $JODMD© ª'DV LVW ODXWHU 3KLORVRSKLH© IJWH $GHODLGD KLQ]X ª6LH VLQG HLQ 3KLORVRSKXQGVLQG KHUJHNRPPHQ XP XQV ]X EHOHKUHQ© ª'D KDEHQ 6LH YLHOOHLFKW UHFKW© HUZLGHUWH GHU )UVW OlFKHOQG ª9LHOOHLFKW ELQ LFK WDWVlFKOLFK HLQ 3KLORVRSK XQG ZHU ZHL YLHOOHLFKWKDEHLFKZLUNOLFKGLH$EVLFKWDQGHUH]XEHOHKUHQ 6HKU ZRKO P|JOLFK MD MD VHKU ZRKO P|JOLFK© ª,KUH 3KLORVRSKLH LVW JDQ] YRQ GHPVHOEHQ 6FKODJH ZLH -DZODPSLMD 1LNRODMHZQDV 3KLORVRSKLH© ZDUI $JODMD ZLHGHU HLQ ª'DV LVW HLQH %HDPWHQZLWZH GLH DOV DUPH .OLHQWLQ PDQFKPDO ]X XQV NRPPW%HLGHUGUHKWVLFKDOOHVLP/HEHQXPGLH:RKOIHLOKHLW VR ELOOLJ ZLH QXU P|JOLFK ]X OHEHQ GDV LVW LKU ,GHDO XQG VLH UHGHW DXFK YRQ QLFKWV DQGHUHP DOV YRQ .RSHNHQ DEHU ZRKOJHPHUNW VLH KDW *HOG GDV VFKODXH )UDXHQ]LPPHU *HUDGHVR LVW HV DXFK PLW ,KUHP UHLFKHQ /HEHQ LP *HIlQJQLV XQGYLHOOHLFKWDXFKPLW,KUHUYLHUMlKULJHQJOFNOLFKHQ([LVWHQ] LP'RUIHIUGLH6LH,KU1HDSHOYHUNDXIWKDEHQXQG]ZDUZLH HV VFKHLQW PLW *HZLQQ ZHQQ 6LH GDIU DXFK QXU HLQ SDDU .RSHNHQ EHNRPPHQ KDEHQ© ª:DV GDV /HEHQ LP *HIlQJQLV DQODQJW© HUZLGHUWH GHU )UVW ªVR NDQQ PDQ GRFK DQGHUHU $QVLFKW VHLQ DOV 6LH ,FK KDEH GDUEHU HLQHQ 0HQVFKHQ HU]lKOHQ K|UHQ GHU ]Z|OI -DKUH LP *HIlQJQLV JHVHVVHQ KDWWH HUZDUHLQHUGHU3DWLHQWHQPHLQHV3URIHVVRUVXQGPDFKWHHLQH .XU (U KDWWH KHIWLJH $QIlOOH ZDU PDQFKPDO VHKU XQUXKLJ ZHLQWH YLHO XQG YHUVXFKWH VRJDU HLQPDO VLFK GDV /HEHQ ]X QHKPHQ 6HLQ /HEHQ LP *HIlQJQLV ZDU VHKU WUDXULJ JHZHVHQ NDQQ LFK ,KQHQ YHUVLFKHUQ DEHU NHLQHVZHJV VR HLQ .RSHNHQOHEHQ 8QG GDEHL EHVWDQG VHLQH JDQ]H %HNDQQWVFKDIW DXV HLQHU 6SLQQH XQG HLQHP %lXPFKHQ GDV XQWHU VHLQHP )HQVWHU ZXFKV $EHU LFK ZLOO ,KQHQ OLHEHU YRQ HLQHU %HJHJQXQJ HU]lKOHQ GLH LFK LP YRULJHQ -DKUH PLW HLQHP
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hEHU]HXJXQJYHUOHEWGDHULQZHQLJHQ 0LQXWHQ SO|W]OLFK WRW VHLQ ZHUGH ,FK K|UWH LKP PLW GHP JU|WHQ,QWHUHVVH]XZHQQHUPDQFKPDOYRQVHLQHQGDPDOLJHQ (LQGUFNHQHU]lKOWHXQGULFKWHWHPHKUPDOVPHLQHUVHLWV)UDJHQ DQLKQ(UHULQQHUWHVLFKDQDOOHVPLWDXHURUGHQWOLFKHU.ODUKHLW XQG VDJWH HU ZHUGH GLHVH 0LQXWHQ QLH YHUJHVVHQ (WZD ]ZDQ]LJ 6FKULWWH YRP 6FKDIRWW HQWIHUQW XP GDV HLQH 0HQJH 9RON XQG 6ROGDWHQ KHUXPVWDQGHQ ZDUHQ GUHL 3IlKOH LQ GLH (UGH JHJUDEHQ GD HV PHKUHUH 9HUXUWHLOWH ZDUHQ 0DQ IKUWH GLH GUHL HUVWHQ ]X GHQ 3IlKOHQ KLQ OHJWH LKQHQ GDV 6WHUEHNRVWP DQ ODQJH ZHLH .LWWHO ]RJ LKQHQ ZHLH .DSX]HQ EHU GLH $XJHQ GDPLW VLH GLH *HZHKUH QLFKW VHKHQ NRQQWHQXQGEDQGVLHIHVWGDQQQDKPMHGHP3IDKOJHJHQEHU HLQH$EWHLOXQJ6ROGDWHQ$XIVWHOOXQJ0HLQ%HNDQQWHUVWDQGDOV DFKWHU LQ GHU 5HLKH PXWH DOVR LQ GHP GULWWHQ 7UXSS ]X GHQ 3IlKOHQ JHKHQ (LQ *HLVWOLFKHU JLQJ PLW HLQHP .UX]LIL[ YRQ HLQHP]XPDQGHUQ1XQ ZDU HV VR ZHLW GD HU QXU QRFK IQI 0LQXWHQ ]X OHEHQ KDWWH QLFKW PHKU (U VDJWH GLHVH IQI 0LQXWHQ VHLHQ LKP DOV HLQ HQGORVHU =HLWUDXP HUVFKLHQHQ DOV HLQ JHZDOWLJHU 5HLFKWXP HU KDEH GLH 9RUVWHOOXQJ JHKDEW DOV REGLHVHIQI0LQXWHQVRYLHO/HEHQIULKQHLQVFKO|VVHQGD HU DQ GLH OHW]WHQ $XJHQEOLFNH QRFK JDU QLFKW ]X GHQNHQ EUDXFKH HU KDEH GDKHU QRFK DOOHUOHL 'LVSRVLWLRQHQ GDUEHU JHWURIIHQ KDEH GLH =HLW EHUHFKQHW GLH ]XP $EVFKLHGQHKPHQ YRQ VHLQHQ .DPHUDGHQ HUIRUGHUOLFK VHL XQG KLHUIU ]ZHL
0LQXWHQ DQJHVHW]W GDQQ KDEH HU QRFK ]ZHL 0LQXWHQ GD]X EHVWLPPW]XPOHW]WHQPDOEHUVLFKVHOEVWQDFK]XGHQNHQ XQG GLH GDQQ QRFK YHUEOHLEHQGH XP ]XP OHW]WHQPDO XP VLFK ]X VFKDXHQ(UKDWWHHVVHKUJXWLP*HGlFKWQLV GD HU JHUDGH LQ GLHVHU:HLVHEHUVHLQH=HLWYHUIJWXQGVLHVREHUHFKQHWKDWWH (U ZDU VLHEHQXQG]ZDQ]LJ -DKUH DOW JHVXQG XQG NUlIWLJ JHZHVHQDOVHUGHP7RGHVRQDKH ZDU(UHULQQHUWHVLFKGD HUEHLP $EVFKLHGH YRQ VHLQHQ .DPHUDGHQ DQ HLQHQ GHUVHOEHQ HLQH]LHPOLFKQHEHQVlFKOLFKH)UDJHJHULFKWHWXQGGLH $QWZRUW PLW JURHP ,QWHUHVVH JHK|UW KDWWH 'DQQ QDFKGHP HU YRQ VHLQHQ .DPHUDGHQ $EVFKLHG JHQRPPHQ KDWWH NDPHQ GLH EHLGHQ 0LQXWHQ GLH HU GD]X EHVWLPPW KDWWH EHU VLFK VHOEVW QDFK]XGHQNHQ HU ZXWH YRQ YRUQKHUHLQ ZRUEHU HU QDFKGHQNHQ ZUGH HU ZROOWH VLFK P|JOLFKVW VFKQHOO XQG NODU HLQH 9RUVWHOOXQJ GDYRQ PDFKHQ ZLH GDV ]XJHKH GD HU MHW]W H[LVWLHUH XQG OHEH XQG LQ GUHL 0LQXWHQ EHUHLWV LUJHQG HWZDV VHLQ ZHUGH HLQ MHPDQG RGHU HLQ HWZDV DOVR ZHU GHQQ" 8QG ZR"hEHUDOOGLHVH)UDJHQJHGDFKWHHULQGLHVHQ]ZHL0LQXWHQ LQV NODUH ]X NRPPHQ 1LFKW ZHLW HQWIHUQW VWDQG HLQH .LUFKH XQG GDV YHUJROGHWH 'DFK LKUHU .XSSHO JOlQ]WH LP KHOOHQ 6RQQHQVFKHLQ (U HULQQHUWH VLFK GD HU XQYHUZDQGW QDFK GLHVHP'DFKXQGGHQGDYRQDXVJHKHQGHQ6WUDKOHQKLQJHEOLFNW KDWWH HU KDWWH VLFK YRQ GLHVHQ 6WUDKOHQ NDXP QLFKW ORVUHLHQ N|QQHQ HU KDWWH GLH 9RUVWHOOXQJ JHKDEW DOV JHK|UWHQ VLH ]X VHLQHUQHXHQ1DWXUXQGDOVZHUGHHULQGUHL0LQXWHQLUJHQGZLH PLW LKQHQ ]XVDPPHQIOLHHQ 'LH 8QJHZLKHLW XQG GHU :LGHUZLOOH JHJHQ GLHVHV 1HXH GDV *HVFKHKHQ XQG VRJOHLFK HLQWUHWHQZUGHVHLHQIXUFKWEDUJHZHVHQDEHUHUVDJWHQLFKWV KDEH LKP ZlKUHQG GLHVHU =HLW JU|HUH 3HLQ EHUHLWHW DOV GHU XQDXIK|UOLFKH*HGDQNH¾:LH±ZHQQLFKQXQQLFKW]XVWHUEHQ EUDXFKWH" :HQQ LFK ZHLWHUOHEHQ N|QQWH ± ZHOFKH XQHQGOLFKH 3HUVSHNWLYH8QGDOOHVZUGHGDQQPHLQVHLQ ,FKZUGHMHGH 0LQXWH LQ GLH JDQ]H (ZLJNHLW YHUZDQGHOQ QLFKWV YRQ PHLQHU =HLW QLH LFK YHUOLHUHQ MHGH 0LQXWH EHUHFKQHQ NHLQHQ
$XJHQEOLFN QXW]ORV YHUVFKZHQGHQ½ (U VDJWH GLHVHU *HGDQNH KDEH VLFK EHL LKP VFKOLHOLFK LQ HLQHQ VROFKHQ ,QJULPP XPJHZDQGHOW GD HU VRJDU JHZQVFKW KDEH QXU P|JOLFKVW EDOGHUVFKRVVHQ]XZHUGHQ© 'HU)UVWVFKZLHJSO|W]OLFKDOOHKDWWHQHUZDUWHWGDHUQRFK ZHLWHUUHGHQXQGDXVGHP(U]lKOWHQ 6FKOXIROJHUXQJHQ ]LHKHQ ZUGH ª6LQG 6LH ]X (QGH"© IUDJWH $JODMD ª:LH" -D LFK ELQ ]X (QGH© HUZLGHUWH GHU )UVW GHU HLQH :HLOH LQ *HGDQNHQ YHUVXQNHQ GDJHVHVVHQ KDWWH XQG QXQ ZLHGHU ]X VLFK NDP ª$EHU ]X ZHOFKHP =ZHFN KDEHQ 6LH XQV GHQQ GDV HU]lKOW"© ª1XUVRHVLVWPLUHLQJHIDOOHQ]XU8QWHUKDOWXQJ© ª6LH EUHFKHQ VHKU NXU] DE© EHPHUNWH $OH[DQGUD ª6LH ZROOWHQ JHZLGDUDXVIROJHUQ)UVWGDPDQNHLQHQ$XJHQEOLFNQDFK .RSHNHQ DEVFKlW]HQ NDQQ XQG GD IQI 0LQXWHQ PLWXQWHU ZHUWYROOHUVLQGDOVHLQ6FKDW]*ROG'DVLVWDOOHVVHKUO|EOLFK DEHU JHVWDWWHQ 6LH GRFK HLQH )UDJH ZLH KDW VLFK GHQQ QXQ GLHVHU )UHXQG YHUKDOWHQ GHU ,KQHQ HLQH VROFKH /HLGHQVJHVFKLFKWHHU]lKOWKDW"6HLQH6WUDIHLVWMDXPJHZDQGHOW ZRUGHQ XQG PDQ KDW LKP DOVR GLHVHV HQGORVH /HEHQ JHVFKHQNW ZDV KDW HU GHQQ QDFKKHU PLW GLHVHP 5HLFKWXP DQJHIDQJHQ" +DW HU GHQQ QXQ MHGH 0LQXWH VRUJVDP DXVJHQXW]W"© ª2 QHLQ HU KDW PLU VHOEVW JHVDJW LFK KDEH LKQ GDQDFK JHIUDJW GD HU NHLQHVZHJV VR JHOHEW VRQGHUQ YLHOH YLHOH 0LQXWHQ YHUORUHQ KDEH© ª1XQ DOVR GD KDEHQ 6LH HLQHQ %HOHJ GDIU GD PDQ WDWVlFKOLFK QLFKW LPVWDQGH LVW EHU GDV /HEHQ YROOVWlQGLJ ¾5HFKQXQJ ]X IKUHQ½ (V PX ZRKO HLQHQ *UXQG JHEHQ ZHVKDOE GDV XQP|JOLFK LVW© ª-D HV PX DXV LUJHQGHLQHP *UXQG XQP|JOLFK VHLQ© ZLHGHUKROWH GHU )UVW ª,FKKDEHPLUGDVVHOEVWJHVDJW$EHULUJHQGZLHNDQQLFKHV GRFK QLFKW JODXEHQ © ª'DV KHLW 6LH JODXEHQ GD 6LH YHUVWlQGLJHUOHEHQZHUGHQDOVDOOHDQGHUHQ0HQVFKHQ"©IUDJWH $JODMDª-DDXFKGDVKDEHLFKPDQFKPDOJHJODXEW©ª8QG6LH JODXEHQHVQRFK"© ª8QGLFKJODXEHHVQRFK©YHUVHW]WHGHU )UVW XQG VDK $JODMD PLW GHPVHOEHQ VWLOOHQ MD VFKFKWHUQHQ
/lFKHOQ DQ ZLH YRUKHU GDQQ DEHU ODFKWH HU VRIRUW ZLHGHU XQG EOLFNWHVLHIU|KOLFKDQ ª6HKU EHVFKHLGHQ JHVSURFKHQ© EHPHUNWH $JODMD LQ HLQHP 7RQGHUEHLQDKJHUHL]WNODQJª:LHWDSIHU6LHGRFKDOOHVLQG 6LH ODFKHQ XQG DXI PLFK ZLUNWH VHLQH JDQ]H (U]lKOXQJ VR VWDUN GD LFK QDFKKHU GDYRQ WUlXPWH XQG QDPHQWOLFK YRQ GLHVHQIQI0LQXWHQ© (U OLH VHLQHQ %OLFN QRFK HLQPDO SUIHQG XQG HUQVW EHU VHLQH =XK|UHULQQHQ KLQVFKZHLIHQ ª6LH ]UQHQ PLU GRFK QLFKW DXV LUJHQGHLQHP *UXQG"© IUDJWH HU SO|W]OLFK HU ZDU DQVFKHLQHQG YHUOHJHQ EOLFNWH DEHU GRFK JHUDGH DOOHQ LQ GLH $XJHQ ª$EHU ZHVZHJHQ GHQQ"© ULHIHQ DOOH GUHL 0lGFKHQ HUVWDXQWª1XQZHLOLFKVR]XVDJHQGHQ6FKXOPHLVWHUVSLHOH© $OOHODFKWHQª:HQQ6LHPLU]UQHQGDQQVHLHQ6LHPLUGRFK ELWWHZLHGHUJXW©VDJWHHUª,FKZHLMDVHOEVWGDLFKZHQLJHU DOVDQGHUHJHOHEWKDEHXQGZHQLJHUDOVDOOHDQGHUHQYRP/HEHQ YHUVWHKH,FKUHGHYLHOOHLFKWPDQFKPDOVHKUZXQGHUOLFK© +LHU JHULHW HU WDWVlFKOLFK JDQ] LQ 9HUZLUUXQJ ª:HQQ 6LH VDJHQ GD 6LH JOFNOLFK ZDUHQ VR KDEHQ 6LH QLFKW ZHQLJHU JHOHEW DOV DQGHUH VRQGHUQ PHKU ZDUXP YHUVWHOOHQ 6LH VLFK GDQQ DOVR XQG HQWVFKXOGLJHQ VLFK"© EHJDQQ $JODMD LQ VFKDUIHPKHUDXVIRUGHUQGHP7RQª6LHEUDXFKHQVLFKEULJHQV QLFKWGDUEHU]XEHXQUXKLJHQGD6LHXQVEHOHKUHQYRQHLQHP VROFKHQ 7ULXPSK ,KUHUVHLWV NDQQ JDU QLFKW GLH 5HGH VHLQ %HL ,KUHP4XLHWLVPXVNDQQPDQDXFKHLQ/HEHQGDVKXQGHUW-DKUH GDXHUW PLW *OFN DQIOOHQ 0DJ PDQ ,KQHQ QXQ HLQH +LQULFKWXQJRGHUHLQIDFKHLQHQ)LQJHU]HLJHQ6LHZHUGHQDXV GHP HLQHQ XQG DXV GHP DQGHUQ LQ JOHLFKHU :HLVH HLQHQ O|EOLFKHQ *HGDQNHQ VFK|SIHQ XQG GDEHL ]XIULHGHQ XQG JOFNOLFKVHLQ$XIGLH$UWOlWVLFKGDV/HEHQHUWUDJHQ©ª,FK YHUVWHKH QLFKW ZDUXP GX GLFK LPPHU VR HUHLIHUVW© QDJWH GLH *HQHUDOLQ GLH VFKRQ ODQJH GLH *HVLFKWHU GHU 5HGHQGHQ EHREDFKWHWKDWWHªXQGZRYRQLKUHLJHQWOLFKUHGHWGDUDXVNDQQ LFKDXFKQLFKWNOXJZHUGHQ9RQZDVIUHLQHP)LQJHULVWGHQQ
GLH 5HGH" :DV LVW GDV IU HLQ 8QVLQQ" 'HU )UVW VSULFKW VHKU VFK|Q QXU HLQ ELFKHQ ]X WUDXULJ :DUXP HQWPXWLJVW GX LKQ" $OV HU DQILQJ ODFKWH HU XQG MHW]W LVW HU JDQ] YHUVW|UW© ª$FK ZDV PDPDQ $EHU HV LVW VFKDGH )UVW GD 6LH NHLQH +LQULFKWXQJ PLW DQJHVHKHQ KDEHQ LFK KlWWH 6LH JHUQ EHU HLQHQ 3XQNW EHIUDJW© ª,FK KDEH HLQH +LQULFKWXQJ PLW DQJHVHKHQ©YHUVHW]WHGHU)UVWª:LUNOLFK"©ULHI$JODMDª'DV KlWWH LFK PLU YRQ YRUQKHUHLQ GHQNHQ VROOHQ 'DV VHW]W GHP *DQ]HQ GLH .URQH DXI 1XQ DOVR ZHQQ 6LH HLQH +LQULFKWXQJ PLWDQJHVHKHQKDEHQZLHN|QQHQ6LHGDQQVDJHQGD6LHGLH JDQ]H=HLWEHUJOFNOLFKJHOHEWKDEHQ"+DEHLFKQLFKWUHFKW"© ª)DQGHQ GHQQ +LQULFKWXQJHQ LQ ,KUHP 'RUI VWDWW"© IUDJWH $GHODLGD ª,FK KDEH LKU LQ /\RQ EHLJHZRKQW LFK ZDU PLW 6FKQHLGHUGRUWKLQJHIDKUHQ*OHLFKQDFKGHPZLUDQJHNRPPHQ ZDUHQ NDPHQ ZLU GDUEHU ]X© ª1XQ KDW HV ,KQHQ JHIDOOHQ" :DU YLHO (UEDXOLFKHV XQG 1W]OLFKHV GDEHL"© IUDJWH $JODMD ª(V KDW PLU JDQ] XQG JDU QLFKW JHIDOOHQ XQG LFK ZDU GDQDFK VRJDU HWZDV NUDQN DEHU LFK JHVWHKH GD LFK ZLH DQJHVFKPLHGHW GDVWDQG XQG KLQVDK XQG GLH $XJHQ QLFKW DEZHQGHQ NRQQWH© ª,FK KlWWH DXFK QLFKW ZHJVHKHQ N|QQHQ© VDJWH $JODMD ª(V ZLUG GRUW QLFKW JHUQ JHVHKHQ ZHQQ VLFK )UDXHQ GDEHL ]XP =XVFKDXHQ HLQILQGHQ XQG HV VWHKHQ EHU VROFKH )UDXHQ VRJDU PLELOOLJHQGH %HPHUNXQJHQ LQ GHQ =HLWXQJHQ© ª$OVR ZHQQ PDQ ILQGHW GD VLFK GDV QLFKW IU )UDXHQ VFKLFNW VR ZLOO PDQ GDPLW VDJHQ XQG ZRKO JDU UHFKWIHUWLJHQ GDHVIU0lQQHUVFKLFNOLFKVHL(LQHN|VWOLFKH /RJLN 8QG 6LH GHQNHQ JHZL HEHQVR© ª(U]lKOHQ 6LH XQV GRFK HWZDV YRQ GHU +LQULFKWXQJ© XQWHUEUDFK $GHODLGD ª,FK P|FKWH HV MHW]W QLFKW JHUQ WXQ© HUZLGHUWH GHU )UVW LQ VLFKWOLFKHU 9HUOHJHQKHLW XQG PLW GVWHUHU 0LHQH ª6LH ZROOHQ HV ZRKO XQWHUODVVHQ XP XQV ]X VFKRQHQ"© IUDJWH $JODMD VS|WWLVFK ª'DV QLFKW DEHU LFK P|FKWH HV QLFKW ZHLO LFK YRQ GLHVHUVHOEHQ+LQULFKWXQJVFKRQYRUKLQHU]lKOWKDEH© ª:HP KDEHQ 6LH GHQQ GDYRQ HU]lKOW"© ª,KUHP
.DPPHUGLHQHU ZlKUHQG LFK ZDUWHWH © ª:HOFKHP .DPPHUGLHQHU"© HUVFKROO HV YRQ DOOHQ 6HLWHQ ª1XQ GHP GHU LP 9RU]LPPHU VLW]W PLW GHP JUDXHQ +DDU XQG GHP U|WOLFKHQ *HVLFKW LFK KDEH LP 9RU]LPPHU JHVHVVHQ ELV LFK ]X ,ZDQ )MRGRURZLWVFK KLQHLQJHKHQ GXUIWH© ª'DV LVW VRQGHUEDU© EHPHUNWHGLH*HQHUDOLQª'HU)UVWLVWHLQ'HPRNUDW©HUNOlUWH $JODMDNXU] ª1XQZHQQ6LHHV$OH[HMHU]lKOWKDEHQN|QQHQ 6LH HV XQV DXFK QLFKW DEVFKODJHQ© ª,FK ZLOO HV XQWHU DOOHQ 8PVWlQGHQ K|UHQ© ZLHGHUKROWH $GHODLGD ª$OV 6LH PLFK YRUKLQQDFKHLQHP9RUZXUIIUHLQ*HPlOGHIUDJWHQ©ZDQGWH VLFK GHU )UVW ]X LKU HU KDWWH VHKU VFKQHOO XQG YHUWUDXHQVYROO ZLHGHU0XWJHIDW ªGDNDPPLUZLUNOLFKGHU*HGDQNH,KQHQ HLQHQ VROFKHQ DQ GLH +DQG ]X JHEHQ GDV *HVLFKW HLQHV 9HUXUWHLOWHQ ]X ]HLFKQHQ HLQH 0LQXWH YRU GHP 1LHGHUIDOOHQ GHV%HLOVGHU*XLOORWLQHZHQQHUQRFKDXIGHP6FKDIRWWVWHKW DOVR EHYRU HU VLFK DXI GDV %UHWW OHJW ª'DV *HVLFKW" 1XU GDV *HVLFKW"IUDJWH$GHODLGD ª'DV ZLUG HLQ VRQGHUEDUHU 9RUZXUI VHLQ ZDV VROO GHQQ GDEHL IU HLQ %LOG KHUDXVNRPPHQ"© ª,FK ZWH QLFKW ZDUXP PDQ GDV QLFKW ]HLFKQHQ VROOWH© YHUVHW]WH GHU)UVWEHKDUUOLFKXQGHLIULJª,FKKDEHXQOlQJVWLQ%DVHOHLQ VROFKHV %LOG JHVHKHQ ,FK ZUGH HV ,KQHQ VHKU JHUQ EHVFKUHLEHQ ,FK ZHUGH HV DXFK HLQ DQGHUPDO WXQ (V KDW DXIPLFKHLQHQVWDUNHQ(LQGUXFNJHPDFKW©ª'DV%DVHOHU%LOG PVVHQ 6LH PLU MHGHQIDOOV VSlWHU HLQPDO EHVFKUHLEHQ© VDJWH $GHODLGD ª-HW]W DEHU HUNOlUHQ 6LH PLU ELWWH GDV %LOG YRQ GHU +LQULFKWXQJ .|QQHQ 6LH HV VR VFKLOGHUQ ZLH 6LH HV VLFK YRUVWHOOHQ":LHVROOPDQGLHVHV*HVLFKW]HLFKQHQ"'DV*HVLFKW DOOHLQ" :LH VLHKW GHQQ GLHVHV *HVLFKW DXV"© ª(V ZDU JHQDX HLQH0LQXWHYRUGHP7RGH©EHJDQQGHU)UVWVHKUEHUHLWZLOOLJ ±HUVFKLHQYRQVHLQHQ(ULQQHUXQJHQ JDQ]KLQJHULVVHQ]XVHLQ XQG VRJOHLFK DOOHV EULJH ]X YHUJHVVHQ ªLQ GHP $XJHQEOLFN ZRHUGLH6WXIHQKLQDXIJHVWLHJHQZDUXQGGDV6FKDIRWWEHWUHWHQ KDWWH 'D EOLFNWH HU QDFK GHU 6HLWH KLQ ZR LFK VWDQG LFK VDK LKPLQV*HVLFKWXQGYHUVWDQGDOOHV)UHLOLFKZLHNDQQLFKGDV
PLW:RUWHQZLHGHUJHEHQ" ,FKZUGHLQQLJZQVFKHQGD6LH RGHUVRQVWMHPDQGGDV]HLFKQHWH'DVEHVWHZlUHZHQQ6LHHV WlWHQ,FKGDFKWHJOHLFKGDPDOVHLQVROFKHV%LOGZLUGQW]OLFK VHLQ :LVVHQ 6LH PDQ PWH GDULQ DOOHV ]XU 'DUVWHOOXQJ EULQJHQZDVYRUKHUJHJDQJHQZDUDOOHVDOOHV(UKDWWHZLHLFK K|UWH LP *HIlQJQLV JHVHVVHQ XQG VHLQH +LQULFKWXQJ LQ IUKHVWHQV HLQHU :RFKH HUZDUWHW HU UHFKQHWH DXI GLH JHZ|KQOLFKHQ )RUPDOLWlWHQ GDUDXI GD GDV 7RGHVXUWHLO QRFK LUJHQGZRKLQ JHVFKLFNW ZHUGHQ PWH XQG HUVW QDFK $EODXI HLQHU :RFKH ZLHGHU ]XUFNNRPPHQ ZUGH $EHU GLHVPDO QDKPGXUFKLUJHQGHLQHQ=XIDOOGLH6DFKHHLQHQNU]HUHQ*DQJ 8PIQI8KU PRUJHQV VFKOLHI HU QRFK (V ZDU (QGH 2NWREHU XP IQI 8KU LVW HV GD QRFK NDOW XQG GXQNHO 'HU *HIlQJQLVDXIVHKHUWUDWYRQHLQHU:DFKHEHJOHLWHWOHLVHKHUHLQ XQG EHUKUWH VDFKW VHLQH 6FKXOWHU HU ULFKWHWH VLFK KDOE DXI VWW]WHVLFKDXIGHQ(OOERJHQXQGVDKGDV/LFKW¾:DVJLEW¶V"½ ±¾8P]HKQ8KULVWGLH+LQULFKWXQJ½9HUVFKODIHQZLHHUZDU ZROOWH HU HV QLFKW JODXEHQ XQG (LQZHQGXQJHQ PDFKHQ GDV 8UWHLO ZHUGH GRFK HUVW LQ HLQHU :RFKH ]XUFNNRPPHQ $EHU VREDOG HU Y|OOLJ ZDFK JHZRUGHQ ZDU K|UWH HU DXI ]X VWUHLWHQ XQG VFKZLHJ 6R HU]lKOWH PDQ 'DQQ VDJWH HU ¾(V LVW GRFK VFKUHFNOLFK VR SO|W]OLFK ½ XQG YHUVWXPPWH ZLHGHU XQG YHUPRFKWH QXQ NHLQ :RUW PHKU ]X VDJHQ 1XQ YHUJHKHQ GUHL YLHU 6WXQGHQ GLH GXUFK GLH EHNDQQWHQ 'LQJH DXVJHIOOW ZHUGHQ GHQ %HVXFK GHV *HLVWOLFKHQ GDV )UKVWFN EHL GHP LKP:HLQ.DIIHHXQGJHEUDWHQHV5LQGIOHLVFKJHUHLFKWZHUGHQ DEHULVWGDVQLFKWGHUUHLQH+RKQ"%HLHLQLJHUhEHUOHJXQJVDJW PDQVLFKZHOFKH*UDXVDPNHLWDEHUDQGHUHUVHLWVKDQGHOQGLHVH KDUPORVHQ /HXWH LQ EHVWHU 0HLQXQJ XQG VLQG EHU]HXJW GD GDV +XPDQLWlW LVW GDQQ IROJW GLH 7RLOHWWH 6LH ZLVVHQ ZRKO ZRULQ GLH 7RLOHWWH HLQHV +LQ]XULFKWHQGHQ EHVWHKW VFKOLHOLFK IlKUWPDQ LKQ GXUFK GLH 6WDGW ]XP 6FKDIRWW ,FK GHQNH PLU GDHUDXFKZlKUHQGHUVRIXKUGLH9RUVWHOOXQJJHKDEWKDWHV EOHLEH LKP QRFK HLQH HQGORVH =HLW ]XP /HEHQ EULJ ,FK
JODXEHHUKDWXQWHUZHJVJHZLJHGDFKW¾(VGDXHUWQRFKODQJH QRFKGUHL6WUDHQODQJKDEHLFK]XOHEHQMHW]WIDKUHLFKGXUFK GLHVH GDQQ NRPPW QRFK MHQH GDQQ QRFK MHQH ZR UHFKWV GHU %lFNHUODGHQLVWHVLVWQRFKHLQHJDQ]H:HLOHELVZLU]XGHP %lFNHUODGHQ NRPPHQ½ 5LQJVXP HLQH 0HQJH 9RON *HVFKUHL /lUP]HKQWDXVHQG*HVLFKWHUXQG$XJHQSDDUH±DOOGDVPXHU HUWUDJHQ XQG GDV lUJVWH LVW GHU *HGDQNH ¾'D VLQG QXQ ]HKQWDXVHQG 0HQVFKHQ XQG NHLQHU YRQ LKQHQ ZLUG KLQJHULFKWHW DEHU LFK ZHUGH KLQJHULFKWHW½ 1XQ GDV LVW DOOHV HUVW GLH 9RUEHUHLWXQJ $XI GDV 6FKDIRWW IKUWH HLQH NOHLQH 7UHSSHKLQDXIYRUGLHVHU7UHSSHEUDFKHUSO|W]OLFKLQ7UlQHQ DXV XQG GDEHL ZDU HU HLQ VWDUNHU NUlIWLJHU 0DQQ HLQ 6FKZHUYHUEUHFKHU ZLH PDQ VDJWH 'LH JDQ]H =HLW EHU ZDU VWlQGLJ GHU *HLVWOLFKH EHL LKP HU IXKU DXFK DXI GHP :DJHQ QHEHQLKPXQGUHGHWHIRUWZlKUHQGGHU9HUXUWHLOWHK|UWHNDXP KLQXQGZHQQHUDQILQJ]X]XK|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hEHONHLWDQZLHZHQQHULQGHU .HKOH HLQ :UJHQ XQG GDYRQ HLQH $UW .LW]HO IKOWH ± KDEHQ 6LHGLHVH(PSILQGXQJQLFKWDXFKVFKRQPDQFKPDOEHL6FKUHFN RGHULQEHVRQGHUVIXUFKWEDUHQ$XJHQEOLFNHQJHKDEWZHQQGHU JDQ]H 9HUVWDQG ]ZDU QRFK GD LVW DEHU NHLQH .UDIW PHKU KDW" ,FK PHLQH ZHQQ HLQHP EHLVSLHOVZHLVH HLQ XQHQWULQQEDUHV 9HUGHUEHQGURKWLQGHPGDV+DXVEHUHLQHP]XVDPPHQVWU]W GDQQ EHNRPPW PDQ DXI HLQPDO HLQ VFKUHFNOLFKHV 9HUODQJHQ VLFK KLQ]XVHW]HQ XQG GLH $XJHQ ]X VFKOLHHQ XQG ]X ZDUWHQ
NRPPH ZDV NRPPHQ PDJ 'D QXQ DOV GLHVH 6FKZlFKH EHJDQQ KLHOW GHU *HLVWOLFKH LKP DXI HLQPDO JDQ] VFKQHOO PLW HLQHU UDVFKHQ %HZHJXQJ XQG RKQH HLQ :RUW ]X VDJHQ GDV .UX]LIL[ GLFKW DQ GLH /LSSHQ HV ZDU VR HLQ NOHLQHV VLOEHUQHV .UX]LIL[ XQG GDV WDW HU ]X ZLHGHUKROWHQ 0DOHQ DOOH $XJHQEOLFNH 8QG VREDOG GDV .UX]LIL[ GLH /LSSHQ EHUKUWH |IIQHWH HU GLH $XJHQ XQG VFKLHQ VLFK ZLHGHU IU HLQ SDDU 6HNXQGHQ ]X EHOHEHQ XQG GLH %HLQH JLQJHQ ZHLWHU 'DV .UX]LIL[ NWH HU EHJLHULJ XQG KDVWLJ DOV EHHLOH HU VLFK DXI MHGHQ)DOOHLQH$UW5HLVHYRUUDWPLW]XQHKPHQDEHUVFKZHUOLFK KDWWH HU LQ GLHVHP $XJHQEOLFN LUJHQGZHOFKH IURPPHQ *HGDQNHQ6RJLQJHVELVHUGLFKWEHLGHP%UHWWZDU(VLVW PHUNZUGLJ GD QXU VHOWHQ HLQ 9HUXUWHLOWHU LQ GLHVHQ OHW]WHQ 6HNXQGHQ LQ 2KQPDFKW IlOOW ,P *HJHQWHLO GHU .RSI LVW VHKU OHEHQGLJ XQG DUEHLWHW ZDKUVFKHLQOLFK PLW DOOHU .UDIW PLW DOOHU .UDIWZLHHLQHLP*DQJHEHILQGOLFKH0DVFKLQHLFKVWHOOHPLU YRU GD DOOHUOHL *HGDQNHQ GDULQ QXU VR SRFKHQ XQYROOHQGHWH XQG YLHOOHLFKW DXFK OlFKHUOLFKH IUHPGDUWLJH *HGDQNHQ ¾'HU 0HQVFKGHUGD]XVLHKWKDWHLQH:DU]HDXIGHU6WLUQDQGHP 5RFNGHV6FKDUIULFKWHUVLVWXQWHQGHUHLQH.QRSIYHUURVWHW½ XQGGDEHLZHLPDQDOOHVXQGHULQQHUWVLFKDQDOOHVXQGGDLVW HLQ 3XQNW GHQ PDQ DXI NHLQH :HLVH YHUJHVVHQ NDQQ XQG LQ 2KQPDFKW IDOOHQ NDQQ PDQ DXFK QLFKW XQG DOOHV GUHKW XQG EHZHJW VLFK XP LKQ XP GLHVHQ 3XQNW 8QG ZHQQ PDQ QXQ EHGHQNWGDGDVVRELV]XUOHW]WHQ9LHUWHOVHNXQGHIRUWJHKWZR GHU .RSI VFKRQ DXI GHP %UHWW OLHJW XQG ZDUWHW XQG ZHL ZDV NRPPHQ ZLUG XQG DXI HLQPDO EHU VLFK GDV *HUlXVFK JOHLWHQGHQ(LVHQVK|UW'DVK|UWPDQXQEHGLQJW,FKZHQQLFK GDOlJH LFK ZUGH DEVLFKWOLFK GDUDXI DFKWHQ XQG GDQDFK KLQK|UHQ 'LHVHV *HUlXVFK GDXHUW YLHOOHLFKW QXU GHQ ]HKQWHQ 7HLOHLQHV$XJHQEOLFNVDEHUPDQK|UWHVXQEHGLQJW8QGQXQ GHQNHQ 6LH VLFK GD PDQ QRFK ELV DXI GHQ KHXWLJHQ 7DJ GDUEHU VWUHLWHW RE QLFKW P|JOLFKHUZHLVH GHU .RSI ZHQQ HU DEJHVFKODJHQLVWQRFKYLHOOHLFKWHLQH6HNXQGHODQJZHLGD
HUDEJHVFKODJHQLVW±ZHOFKHLQH9RUVWHOOXQJ 8QG ZLH ZHQQ HUHVJDUIQI6HNXQGHQODQJZHL=HLFKQHQ6LHGDV6FKDIRWW VR GD QXU GLH REHUVWH 6WXIH GHXWOLFK XQG QDKH ]X VHKHQ LVW GHU 9HUXUWHLOWH KDW VLH EHWUHWHQ PDQ VLHKW VHLQHQ .RSI GDV *HVLFKW LVW ZHL ZLH HLQ %ODWW 3DSLHU GHU *HLVWOLFKH KlOW LKP GDV .UX]LIL[ KLQ HU VWUHFNW EHJLHULJ VHLQH EOlXOLFKHQ /LSSHQ GDQDFK DXV XQG VLHKW ZDV YRU LKP LVW XQG ± ZHL DOOHV 'DV .UX]LIL[XQGGHU.RSIGLHELOGHQGHQHLJHQWOLFKHQ*HJHQVWDQG GHV %LOGHV GLH *HVLFKWHU GHV *HLVWOLFKHQ GHV 6FKDUIULFKWHUV XQG VHLQHU EHLGHQ *HKLOIHQ XQG HLQ SDDU .|SIH XQG $XJHQ ZHLWHUXQWHQGDVDOOHVEUDXFKWQXULP+LQWHUJUXQGHGDUJHVWHOOW ]XVHLQZLHLP1HEHOQXUDOV%HLZHUN6RGHQNHLFKPLUGDV %LOG© 'HU)UVWVFKZLHJXQGEOLFNWHGLH'DPHQDOOHDQª'DVVLHKW QXQ IUHLOLFK QLFKW ZLH 4XLHWLVPXV DXV© VDJWH $OH[DQGUD YRU VLFK KLQ ª8QG MHW]W ELWWH HU]lKOHQ 6LH XP ZLH 6LH YHUOLHEW ZDUHQ©VDJWH$GHODLGD 'HU)UVWEOLFNWHVLHHUVWDXQWDQª+|UHQ6LH©IXKU$GHODLGD VFKQHOO IRUW ª6LH VLQG XQV DXFK QRFK GLH %HVFKUHLEXQJ GHV %DVHOHU %LOGHV VFKXOGLJ DEHU MHW]W P|FKWH LFK K|UHQ ZLH 6LH YHUOLHEW ZDUHQ OHXJQHQ 6LH QLFKW 6LH VLQG YHUOLHEW JHZHVHQ =XGHPZHUGHQ6LHVREDOG6LH]XHU]lKOHQDQIDQJHQDXIK|UHQ 3KLORVRSK]XVHLQ© ª-HGHVPDO ZHQQ 6LH PLW HLQHU (U]lKOXQJ IHUWLJ VLQG VFKlPHQ 6LH VLFK VRIRUW GHVVHQ ZDV 6LH HU]lKOW KDEHQ© EHPHUNWH $JODMD SO|W]OLFK ª:RKHU NRPPW GDV"© ª:DV UHGHVW GX GD IU GXPPHV =HXJ© VFKDOW GLH *HQHUDOLQ XQG EOLFNWH $JODMD PLELOOLJHQG DQ ª-D GDV ZDU VHKU XQYHUVWlQGLJ©VWLPPWH$OH[DQGUDLKUEHLª*ODXEHQ6LHQLFKW GD VLH GDV ZLUNOLFK PHLQW )UVW© ZDQGWH VLFK GLH *HQHUDOLQ DQGLHVHQ ªVLHUHGHWDEVLFKWOLFKVRDXVLUJHQGZHOFKHU 7FNH VR GXPP LVW VLH JDU QLFKW 1HKPHQ 6LH HV QLFKW EHO GD GLH 0lGFKHQ 6LH VR TXlOHQ *HZL IKUHQ VLH LUJHQG HWZDV LP 6FKLOGH DEHU VLH VLQG VFKRQ VHKU IU 6LH HLQJHQRPPHQ ,FK NHQQH LKUH *HVLFKWHU© ª$XFK LFK NHQQH GLH *HVLFKWHU GHU
MXQJHQ 'DPHQ© HUZLGHUWH GHU )UVW PLW EHVRQGHUV VWDUNHU %HWRQXQJ ª:LHVR"© IUDJWH $GHODLGD QHXJLHULJ ª:DV ZLVVHQ 6LHYRQXQVHUQ*HVLFKWHUQ"©IUDJWHQDXFKGLHEHLGHQDQGHUQLQ OHEKDIWHU6SDQQXQJ $EHUGHU)UVWVFKZLHJPLWHUQVWHU0LHQHDOOHZDUWHWHQDXI VHLQH$QWZRUWª,FKZHUGHHV,KQHQVSlWHUVDJHQ©YHUVHW]WHHU OHLVH XQG HUQVW ª6LH ZROOHQ VLFK GXUFKDXV LQWHUHVVDQW PDFKHQ© ULHI $JODMD ª8QG ZDV 6LH GDEHL IU HLQ IHLHUOLFKHV *HVLFKW PDFKHQ© ª1XQ JXW© VDJWH $GHODLGD ZLHGHU LQ LKUHU KDVWLJHQ $UW ª$EHU ZHQQ 6LH HLQ VROFKHU .HQQHU YRQ *HVLFKWHUQ VLQG GDQQ VLQG 6LH VLFKHUOLFK DXFK YHUOLHEW JHZHVHQLFKKDEHDOVRULFKWLJYHUPXWHW(U]lKOHQ6LHXQVDOVR GDYRQ© ª,FK ELQ QLFKW YHUOLHEW JHZHVHQ© DQWZRUWHWH GHU )UVW HEHQVR OHLVH XQG HUQVW ZLH YRUKHU ªLFK ZDU DXI DQGHUH :HLVHJOFNOLFK©ª:LHGHQQ":RGXUFKGHQQ"©ª1XQJXWLFK ZLOO HV ,KQHQ HU]lKOHQ© VDJWH GHU )UVW HU VFKLHQ LQ WLHIHV 1DFKGHQNHQYHUVXQNHQ]XVHLQ
9, ª'D VFKDXHQ 6LH PLFK QXQ DOOH PLW VROFKHU 1HXJLHU DQ© EHJDQQHUªGD6LHPLUDP(QGHQRFKE|VHZHUGHQZHQQLFK GLHVH 1HXJLHU QLFKW EHIULHGLJH 1HLQ QHLQ LFK VFKHU]H QXU© IJWHHUVFKQHOOPLWHLQHP/lFKHOQKLQ]Xª'RUWGRUWJDEHV YLHOH .LQGHU XQG LFK ELQ GLH JDQ]H =HLW EHU PLW .LQGHUQ ]XVDPPHQ JHZHVHQ QXU PLW .LQGHUQ (V ZDUHQ GLH .LQGHU MHQHV 'RUIHV HLQH JDQ]H 6FKDU GLH GLH 6FKXOH EHVXFKWH 8QWHUULFKWHW KDEH LFK VLH QLFKW R QHLQ GD]X ZDU HLQ 6FKXOOHKUHU GRUW -XOHV 7KLEDXW LFK KDEH VLH ZRKO DXFK GLHV
XQGGDVJHOHKUWJU|WHQWHLOVDEHUZDULFKRKQHVROFKH$EVLFKW PLW LKQHQ ]XVDPPHQ XQG GLH JDQ]HQ YLHU -DKUH KDEH LFK LQ GLHVHU :HLVH YHUOHEW :HLWHU KDWWH LFK NHLQH :QVFKH ,FK VDJWH LKQHQ DOOHV RKQH LKQHQ HWZDV ]X YHUKHLPOLFKHQ ,KUH (OWHUQXQG9HUZDQGWHQZDUHQDOOHDXIPLFKlUJHUOLFKZHLOGLH .LQGHU ]XOHW]W RKQH PLFK JDU QLFKW PHKU OHEHQ NRQQWHQ XQG PLFK LPPHU XPGUlQJWHQ XQG GHU 6FKXOOHKUHU ZXUGH VFKOLHOLFKPHLQlUJVWHU)HLQG,FKKDWWHGRUWYLHOH)HLQGHDOOH XPGHU.LQGHUZLOOHQ6RJDU6FKQHLGHUPDFKWHPLU9RUZUIH 8QGZDVIUFKWHWHQVLHHLJHQWOLFK"0DQNDQQHLQHP.LQGDOOHV VDJHQ JHUDGH]X DOOHV PLFK KDW RIW GLH :DKUQHKPXQJ EHUUDVFKW ZLH VFKOHFKW GLH (UZDFKVHQHQ GLH .LQGHU NHQQHQ VRJDUGLH9lWHUXQG0WWHULKUHHLJHQHQ.LQGHU0DQGDUIGHQ .LQGHUQ QLFKWV XQWHU GHP 9RUZDQG YHUKHLPOLFKHQ VLH VHLHQ QRFK]XNOHLQXQGHVVHLIUVLHQRFK]XIUKGLHVXQGMHQHV]X ZLVVHQ:HOFKHLQWUDXULJHUXQJOFNOLFKHU*HGDQNH8QG ZLH JXWPHUNHQHVGLH.LQGHUVHOEVWGDGLH9lWHUVLHIU]XNOHLQ XQG XQYHUVWlQGLJ KDOWHQ ZlKUHQG VLH GRFK LQ :LUNOLFKNHLW DOOHVYHUVWHKHQ'LH(UZDFKVHQHQZLVVHQQLFKWGDGLH.LQGHU VHOEVW LQ GHQ VFKZLHULJVWHQ $QJHOHJHQKHLWHQ RIW HLQHQ VHKU JXWHQ5DWJHEHQN|QQHQ2*RWWZHQQHLQHQVR HLQKEVFKHV 9|JHOFKHQ YHUWUDXHQVYROO XQG JOFNOLFK DQEOLFNW GD VFKlPW PDQVLFKMDHV]XEHWUJHQ9|JHOFKHQQHQQHLFKGLH.LQGHU ZHLO GLH 9|JHOFKHQ GDV 6FK|QVWH VLQG ZDV HV DXI GHU :HOW JLEW hEULJHQV ZDUHQ DOOH /HXWH LP 'RUIH QDPHQWOLFK ZHJHQ HLQHVEHVWLPPWHQ)DOOHVEHUPLFKDXIJHEUDFKW7KLEDXWDEHU EHQHLGHWH PLFK HLQIDFK DP $QIDQJ VFKWWHOWH HU LPPHU GHQ .RSI XQG ZXQGHUWH VLFK GDUEHU ZLH HV ]XJLQJ GD GLH .LQGHUEHLPLUDOOHVEHJULIIHQXQGEHLLKPIDVWQLFKWVDEHUDOV LFK LKP GDQQ VDJWH ZLU EHLGH N|QQWHQ VLH QLFKWV OHKUHQ VRQGHUQ XPJHNHKUW VLH XQV GD ODFKWH HU PLFK DXV 8QG ZLH PRFKWH HU PLFK QXU EHQHLGHQ XQG YHUOHXPGHQ GD HU GRFK VHOEVW LP VWHWHQ 8PJDQJ PLW GHQ .LQGHUQ OHEWH 'XUFK GHQ 8PJDQJPLW.LQGHUQDEHUZLUGGLH6HHOHJHVXQG(VZDUGD
LP6FKQHLGHUVFKHQ,QVWLWXWHHLQ3DWLHQWHLQVHKUXQJOFNOLFKHU 0HQVFK 6HLQ 8QJOFN ZDU VR IXUFKWEDU GD HV ZRKO NDXP HWZDV bKQOLFKHV JDE (U ZDU ]XU +HLOXQJ YRQ *HLVWHVVW|UXQJ HLQJHOLHIHUW ZRUGHQ DEHU QDFK PHLQHU 0HLQXQJ ZDU HU QLFKW JHLVWLJ JHVW|UW VRQGHUQ OLWW QXU HQWVHW]OLFK XQG GDV ZDU VHLQH JDQ]H .UDQNKHLW 8QG ZHQQ 6LH QXQ ZWHQ ZDV IU LKQ ]XOHW]W XQVHUH .LQGHU ZXUGHQ $EHU YRQ GLHVHP 3DWLHQWHQ ZLOO LFK ,KQHQ OLHEHU HLQ DQGHUPDO HU]lKOHQ MHW]W P|FKWH LFK HU]lKOHQZLHGDVDOOHVDQILQJ'LH.LQGHUOLHEWHQPLFK]XHUVW QLFKW,FKZDUVRJURXQGLPPHUVRXQEHKROIHQLFKZHLGD LFK XQVFK|Q ELQ ± GD]X NDP HQGOLFK QRFK GD LFK $XVOlQGHU ZDU 'LH .LQGHU PDFKWHQ VLFK DQIDQJV EHU PLFK OXVWLJ XQG GDQQILQJHQVLHVRJDUDQPLW6WHLQHQQDFKPLU]XZHUIHQDOV VLHJHVHKHQKDWWHQGDLFK0DULHNWH,FKKDEHVLHDEHUQXU HLQ HLQ]LJHV 0DO JHNW 1HLQ ODFKHQ 6LH QLFKW© VFKDOWHWH GHU )UVW KDVWLJ HLQ XP GDV /lFKHOQ VHLQHU =XK|UHULQQHQ ]X XQWHUELQGHQ ªYRQ /LHEH ZDU GDEHL JDQ] XQG JDU QLFKW GLH 5HGH :HQQ 6LH ZWHQ ZDV IU HLQ XQJOFNOLFKHV *HVFK|SI VLH ZDU ZUGHQ 6LH VHOEVW VLH HEHQVR EHPLWOHLGHQ ZLH LFK HV WDW6LHZDUDXVXQVHUHP'RUI,KUH0XWWHUZDUHLQHDOWH)UDX GLH LQ LKUHP NOHLQHQ JDQ] EDXIlOOLJHQ ]ZHLIHQVWULJHQ +lXVFKHQ GDV HLQH )HQVWHU PLW HLQHU $UW /DGHQWLVFK YHUVHKHQ KDWWH DXV GLHVHP )HQVWHU YHUNDXIWH VLH PLW (UODXEQLV GHU 'RUIREULJNHLW 6FKQUH =ZLUQ 7DEDN 6HLIH DOOHV LPPHU IU JDQ]ZHQLJH*URVFKHQXQGGDYRQOHEWHVLH6LHZDUNUDQNGLH )H ZDUHQ LKU GDXHUQG JHVFKZROOHQ VR GD VLH LPPHU DXI GHPVHOEHQ )OHFN VLW]HQ PXWH 0DULH ZDU LKUH 7RFKWHU ]ZDQ]LJ -DKUH DOW VFKZlFKOLFK XQG PDJHU VFKRQ OlQJVW KDWWH EHL LKU GLH 6FKZLQGVXFKW EHJRQQHQ DEHU WURW]GHP JLQJ VLH LPPHU DXI 7DJHORKQ ]X VFKZHUHU $UEHLW LQ GLH +lXVHU ± VLH VFKHXHUWH GLH )XE|GHQ ZXVFK :lVFKH IHJWH GLH +|IH XQG YHUVRUJWHGDV 9LHK(LQGXUFKUHLVHQGHUIUDQ]|VLVFKHU.RPPLV YHUIKUWHVLHXQGQDKPVLHPLWOLHVLHDEHUHLQH:RFKHGDUDXI XQWHUZHJV LP 6WLFK XQG PDFKWH VLFK KHLPOLFK GDYRQ 6LFK
GXUFKEHWWHOQG NHKUWH VLH ZLHGHU QDFK +DXVH ]XUFN JDQ] VFKPXW]LJ LQ /XPSHQ PLW ]HUULVVHQHQ 6FKXKHQ VLH ZDU HLQH JDQ]H :RFKH ODQJ ]X )X JHZDQGHUW KDWWH LP )UHLHQ EHUQDFKWHWXQGVLFKVWDUNHUNlOWHWLKUH)HZDUHQZXQGGLH +lQGH JHVFKZROOHQ XQG ULVVLJ hEULJHQV ZDU VLH DXFK YRUKHU QLFKW KEVFK JHZHVHQ QXU GLH $XJHQ ZDUHQ VWLOO JXW XQG XQVFKXOGLJ 6LH ZDU LP K|FKVWHQ *UDGH VFKZHLJVDP (LQPDO QRFKYRUMHQHP9RUIDOOILQJ VLH EHL GHU $UEHLW DXI HLQPDO DQ ]XVLQJHQXQGLFKZHLQRFKGDDOOHVLFKZXQGHUWHQXQG]X ODFKHQ DQILQJHQ ¾0DULH VLQJW :DV GHQQ" 0DULH VLQJW½ 6LH ZXUGHVFKUHFNOLFKYHUOHJHQXQGLKU*HVDQJYHUVWXPPWHGDQQ IU LKU JDQ]HV /HEHQ 'DPDOV KDWWHQ GLH /HXWH VLH QRFK IUHXQGOLFK EHKDQGHOW DEHU DOV VLH NUDQN XQG KHUXQWHUJHNRPPHQ ]XUFNJHNHKUW ZDU GD KDWWH QLHPDQG PLW LKUDXFKQXUGDVJHULQJVWH0LWOHLG:LHJUDXVDPGLH0HQVFKHQ LQ VROFKHQ )lOOHQ VLQG :DV IU KHU]ORVH $QVFKDXXQJHQ VLH YRQ VROFKHQ 'LQJHQ KDEHQ $OV HUVWH HPSILQJ GLH 0XWWHU VLH PLW=RUQXQG9HUDFKWXQJ¾'XKDVWPLFKMHW]WHQWHKUW½6LHZDU DXFKGLHHUVWHGLHVLHGHU6FKDQGHSUHLVJDEDOVPDQLP'RUIH K|UWH GD 0DULH ]XUFNJHNRPPHQ VHL GD NDPHQ DOOH HLOLJ KHUEHLJHODXIHQ XP VLH ]X VHKHQ XQG IDVW GDV JDQ]H 'RUI YHUVDPPHOWHVLFKLQGHP+lXVFKHQGHU$OWHQ*UHLVH.LQGHU )UDXHQ0lGFKHQDOOHDOOHHLQHXQJHGXOGLJH JLHULJH0HQJH 0DULH ODJ KXQJULJ XQG ]HUOXPSW DXI GHP )XERGHQ ]X GHQ )HQ GHU $OWHQ XQG ZHLQWH $OV DOOH KHUEHLJHODXIHQ NDPHQ EHGHFNWHVLHLKU*HVLFKWPLWGHPDXIJHO|VWHQZLUUHQ+DDUXQG GUFNWH HV DQ GHQ %RGHQ $OOH 8PVWHKHQGHQ EHWUDFKWHWHQ VLH DOV RE VLH HLQ 6FKHXVDO ZlUH 'LH DOWHQ 0lQQHU EUDFKHQ GHQ 6WDE EHU VLH XQG VFKDOWHQ GLH MXQJHQ /HXWH PDFKWHQ VLFK VRJDU EHU VLH OXVWLJ GLH )UDXHQ VFKLPSIWHQ DXI VLH XQG YHUGDPPWHQVLHXQGVDKHQ VLH PLW JU|WHU 9HUDFKWXQJ DQ ZLH HLQH HNOH 6SLQQH 'LH 0XWWHU OLH GDV DOOHV JHVFKHKHQ VD VHOEVWGDEHLQLFNWHPLWGHP.RSIXQGELOOLJWHGLHVH5RKHLWHQ 'LH0XWWHUZDUGDPDOVVFKRQVHKUNUDQNXQGGHP7RGHQDKH
]ZHL0RQDWHGDUDXIVWDUEVLHDXFKZLUNOLFKVLHZXWHGDVLH EDOG VWHUEHQ ZHUGH ZROOWH VLFK DEHU WURW]GHP ELV ]X LKUHP 7RGH QLFKW PLW LKUHU 7RFKWHU YHUV|KQHQ VLH UHGHWH VRJDU NHLQ :RUW PLW LKU MDJWH VLH ]XP 6FKODIHQ DXI GHQ )OXU KLQDXV XQG JDELKUIDVWQLFKWV]XHVVHQ6LHPXWHLKUHNUDQNHQ)HRIWLQ ZDUPHV :DVVHU VWHOOHQ 0DULH ZXVFK VLH LKU DOOH 7DJH XQG SIOHJWH GLH 0XWWHU DEHU GLHVH QDKP DOOH 'LHQVWOHLVWXQJHQ GHU 7RFKWHU VFKZHLJHQG KLQ RKQH LKU DXFK QXU HLQ HLQ]LJHV IUHXQGOLFKHV :RUW ]X J|QQHQ 0DULH HUWUXJ DOOHV XQG DOV LFK GDQQ VSlWHU PLW LKU EHNDQQW ZXUGH QDKP LFK ZDKU GD VLH GLHVH %HKDQGOXQJ VRJDU VHOEVW IU JHUHFKW HUDFKWHWH XQG VLFK VHOEVW IU GDV DOOHUVFKOHFKWHVWH *HVFK|SI KLHOW $OV GLH 0XWWHU GDXHUQGDQGDV%HWWJHIHVVHOWZDUNDPHQGLHDOWHQ)UDXHQGHV 'RUIHVGHU5HLKHQDFK]XLKUXPVLH]XSIOHJHQGDVLVWGRUWVR 6LWWH 1XQ EHNDP 0DULD EHUKDXSW QLFKWV PHKU ]X HVVHQ LP 'RUIH DEHU MDJWHQ DOOH /HXWH VLH IRUW XQG QLFKW HLQPDO $UEHLW ZROOWH LKU MHPDQG JHEHQ ZLH IUKHU $OOH EHKDQGHOWHQ VLH ZLH HLQH 9HUZRUIHQH XQG GLH 0lQQHU EHWUDFKWHWHQ VLH JDU QLFKW PHKUDOV)UDXVROFKHXQIOlWLJHQ6FKLPSIZRUWHJHEUDXFKWHQVLH LKUJHJHQEHU0DQFKPDOLQGHVQXUVHKUVHOWHQZDUIHQVLHLKU ZHQQVLHVLFKVRQQWDJVEHWUXQNHQKDWWHQVSDHVKDOEHUHLQSDDU *URVFKHQ KLQ HLQIDFK DXI GLH (UGH XQG 0DULH KRE VLH VFKZHLJHQG DXI 6LH ILQJ VFKRQ GDPDOV DQ %OXW ]X KXVWHQ 6FKOLHOLFK ZDUHQ LKUH /XPSHQ VFKRQ YROOVWlQGLJ ]X )HW]HQ JHZRUGHQ VR GD VLH VLFK VFKlPWH VLFK LP 'RUIH EOLFNHQ ]X ODVVHQ EDUIX JLQJ VLH VFKRQ VHLW LKUHU +HLPNHKU 'D EHJDQQ GLH JDQ]H .LQGHUVFKDU ± HV ZDUHQ EHU YLHU]LJ 6FKXONLQGHU ± VLH ]X YHUK|KQHQ XQG VRJDU PLW 6FKPXW] QDFK LKU ]X ZHUIHQ 6LH EDW GHQ +LUWHQ HU P|JH LKU HUODXEHQ GLH .KH ]X KWHQ DEHU GHU +LUW MDJWH VLH ZHJ 'D ILQJ VLH DQ RKQH VHLQH (UODXEQLV PLW GHU +HUGH IU GHQ JDQ]HQ 7DJ KLQDXV]X]LHKHQ 'D VLH GHP +LUWHQ VHKU YLHO 1XW]HQ EUDFKWH XQG HU GLHV EHPHUNWH WULHE HU VLH QXQ QLFKW PHKU IRUW XQG JDE LKU PDQFKPDO GLH hEHUUHVWH VHLQHV 0LWWDJHVVHQV %URW XQG .lVH
(U KLHOW GDV IU HLQH JURH *QDGH VHLQHUVHLWV $OV GLH 0XWWHU JHVWRUEHQ ZDU VFKlPWH VLFK GHU 3DVWRU QLFKW 0DULH LQ GHU .LUFKHYRUDOOHP9RONDQGHQ3UDQJHU]XVWHOOHQ0DULHVWDQG VRZLHVLHZDULQLKUHQ/XPSHQDP6DUJH(VKDWWHVLFKHLQH 0HQJH /HXWH HLQJHIXQGHQ XP ]X VHKHQ ZLH VLH ZHLQHQ XQG KLQWHUGHP6DUJHKHUJHKHQZUGHGDZDQGWHVLFKGHU3DVWRU± HUZDUQRFKHLQMXQJHU0DQQXQGVHLQJDQ]HU(KUJHL]ZDUHLQ JURHU 3UHGLJHU ]X ZHUGHQ ± DQ DOOH $QZHVHQGHQ XQG ]HLJWH DXI 0DULH ¾'LH LVW HV GLH DQ GHP 7RGH GLHVHU DFKWHQVZHUWHQ )UDX GLH 6FKXOG WUlJW½ GDV ZDU XQZDKU GD GLH 0XWWHU VFKRQ VHLW ]ZHL -DKUHQ NUDQN JHZHVHQ ZDU ¾GD VWHKW VLH YRU HXFK XQGZDJWQLFKWDXI]XEOLFNHQZHLO*RWWHV)LQJHUVLHJH]HLFKQHW KDWGDLVWVLHQXQEDUIXXQGLQ/XPSHQHLQDEVFKUHFNHQGHV %HLVSLHO IU GLHMHQLJHQ GLH YRP 3IDGH GHU 7XJHQG DELUUHQ P|FKWHQ 8QG ZHU LVW HV" (V LVW GLH HLJHQH 7RFKWHU½ XQG LQ GLHVHU $UW LPPHU ZHLWHU 8QG GHQNHQ 6LH VLFK GLHVH *HPHLQKHLW JHILHO IDVW DOOHQ DEHU QXQ HUHLJQHWH VLFK HWZDV %HVRQGHUHV GLH .LQGHU WUDWHQ IU 0DULH HLQ GHQQ ]X GLHVHU =HLW ZDUHQ GLH .LQGHU DOOH VFKRQ DXI PHLQHU 6HLWH XQG KDWWHQ 0DULHOLHEJHZRQQHQ'DVZDUVR]XJHJDQJHQ,FKZROOWHJHUQ HWZDV IU 0DULH WXQ HV ZDU GULQJHQG Q|WLJ GD LKU MHPDQG *HOGJDEDEHU*HOGKDWWHLFKGRUWQLHDXFKQXUHLQH.RSHNHLQ PHLQHP %HVLW] ,FK KDWWH HLQH NOHLQH %ULOODQWQDGHO GLH YHUNDXIWH LFK DQ HLQHQ 7U|GOHU GHU LQ GHQ '|UIHUQ KHUXP]RJ XQGPLWDOWHQ.OHLGHUQKDQGHOWH(UJDEPLUGDIUDFKW)UDQN REZRKOVLHJXWYLHU]LJZHUWZDU/DQJH=HLWEHPKWHLFKPLFK 0DULH DOOHLQ ]X WUHIIHQ HQGOLFK EHJHJQHWHQ ZLU HLQDQGHU DXHUKDOE GHV 'RUIHV DQ HLQHP =DXQ DXI HLQHP 6HLWHQSIDG GHULQGLH%HUJHIKUWHEHLHLQHP%DXP'RUWJDELFKLKUGLH DFKW)UDQNXQGVDJWHLKUVLHP|FKWHGDPLWVSDUVDPXPJHKHQ GDLFKQLFKWPHKUKlWWHXQGGDQQNWHLFKVLHXQGVDJWHVLH VROOHQLFKWGHQNHQGDLFKLUJHQGHLQHXQODXWHUH$EVLFKWKlWWH LFK KlWWH VLH QLFKW HWZD JHNW ZHLO LFK LQ VLH YHUOLHEW ZlUH VRQGHUQ ZHLO VLH PLU VHKU OHLG WlWH XQG LFK VLH JOHLFK YRQ
$QIDQJ DQ GXUFKDXV QLFKW IU VFKXOGEHODGHQ VRQGHUQ QXU IU XQJOFNOLFKJHKDOWHQKlWWH,FKZROOWHVLHJHUQJOHLFKEHLGLHVHU %HJHJQXQJ WU|VWHQ XQG LKU GHXWOLFK PDFKHQ GD VLH VLFK JDU QLFKW IU VRYLHO VFKOHFKWHU DOV DOOH ]X KDOWHQ EUDXFKH DEHU VLH VFKLHQ GDV JDU QLFKW ]X YHUVWHKHQ ,FK PHUNWH GDV JOHLFK REZRKO VLH IDVW GLH JDQ]H =HLW EHU VFKZLHJ XQG PLW QLHGHUJHVFKODJHQHQ $XJHQ YRU PLU VWDQG XQG VLFK IXUFKWEDU VFKlPWH$OVLFK]X(QGHZDUNWHVLHPLUGLH+DQGXQGLFK JULII VRIRUW QDFK GHU LKUHQ XQG ZROOWH VLH LKU NVVHQ DEHU VLH ]RJ VLH VFKQHOO ZHJ ,Q GLHVHP $XJHQEOLFN HUVSlKWHQ XQV DXI HLQPDOGLH.LQGHUHLQJDQ]HU6FKZDUPLFKHUIXKUVSlWHUGD VLH PLU VFKRQ ODQJH QDFKVSLRQLHUW KDWWHQ 6LH ILQJHQ DQ ]X SIHLIHQ LQ GLH +lQGH ]X NODWVFKHQ XQG ]X ODFKHQ 0DULH DEHU OLHIHLOLJVWGDYRQ,FKZROOWHGHQ.LQGHUQHWZDVVDJHQDEHUVLH ZDUIHQ QDFK PLU PLW 6WHLQHQ 1RFK DQ GHPVHOEHQ 7DJH HUIXKUHQDOOHZDVYRUJHIDOOHQZDUGDVJDQ]H'RUIDOOHILHOHQ VLHZLHGHUEHU0DULHKHUXQGZXUGHQLKUQRFKPHKUIHLQG,FK K|UWH VRJDU GD PDQ YRUKDWWH VLH ]X HLQHU 6WUDIH ]X YHUXUWHLOHQ LQGHV JLQJ GDV *RWW VHL 'DQN QRFK VR YRUEHU $EHU GDIU OLHHQ LKU GLH .LQGHU JDU NHLQH 5XKH PHKU VLH YHUK|KQWHQ VLH QRFK lUJHU DOV YRUKHU XQG EHZDUIHQ VLH PLW 6FKPXW]VLHMDJWHQLKUQDFKXQGVLH IORK GDQQ YRU LKQHQ PLW LKUHU VFKZDFKHQ %UXVW JDQ] DXHU $WHP XQG GLH .LQGHU VFKUHLHQG XQG VFKLPSIHQG KLQWHU LKU KHU (LQPDO EHJDQQ LFK VRJDU PLFK PLW LKQHQ KHUXP]XVFKODJHQ 'DQQ YHUVXFKWH LFK PLWLKQHQ]XUHGHQXQGUHGHWH]XLKQHQMHGHQ7DJVRRIWLFKQXU GLH0|JOLFKNHLWKDWWH0DQFKPDOEOLHEHQVLHVWHKHQXQGK|UWHQ ]XREZRKOVLHLPPHUQRFKVFKLPSIWHQ,FKHU]lKOWHLKQHQZLH XQJOFNOLFK 0DULH VHL EDOG K|UWHQ VLH GHQQ DXFK DXI ]X VFKLPSIHQ XQG JLQJHQ VFKZHLJHQG IRUW $OOPlKOLFK NDP HV GD]X GD ZLU PLWHLQDQGHU *HVSUlFKH IKUWHQ LFK YHUKHLPOLFKWH LKQHQ QLFKWV VRQGHUQ HU]lKOWH LKQHQ DOOHV 6LH K|UWHQ VHKU QHXJLHULJ ]X XQG EHJDQQHQ EDOG 0DULH ]X EHPLWOHLGHQ (LQ]HOQH ILQJHQ DQ ZHQQ VLH LKU EHJHJQHWHQ VLH
IUHXQGOLFK ]X JUHQ HV LVW GRUW 6LWWH ZHQQ PDQ HLQDQGHU EHJHJQHW RE PDQ VLFK QXQ NHQQW RGHU QLFKW VLFK ]X JUHQ XQG ¾*U *RWW½ ]X VDJHQ ,FK NDQQ PLU YRUVWHOOHQ ZLH HUVWDXQW 0DULH GDUEHU ZDU (LQHV 7DJHV YHUVFKDIIWHQ VLFK ]ZHLNOHLQH0lGFKHQHWZDV(VVHQWUXJHQHVLKUKLQJDEHQHV LKUXQGNDPHQGDQQ]XPLUXPHVPLU]XVDJHQ6LHHU]lKOWHQ PLU0DULHKDEHJHZHLQWXQGVLHKlWWHQVLHMHW]WVHKUOLHE%DOG ILQJHQ DOOH DQ VLH /LHE]XKDEHQ XQG JOHLFK]HLWLJ DXI HLQPDO DXFK PLFK 6LH NDPHQ QXQ RIW ]X PLU XQG EDWHQ LPPHU LFK P|FKWHLKQHQHWZDVHU]lKOHQLFKPXZRKOJXWHU]lKOWKDEHQ ZHLOVLHPLUVHKUJHUQ]XK|UWHQ,QGHU)ROJH]HLWOHUQWHXQGODV LFK LPPHU QXU LQ GHU $EVLFKW HV LKQHQ QDFKKHU ]X HU]lKOHQ XQG VR KDEH LFK LKQHQ LQ GHQ JDQ]HQ QlFKVWHQ GUHL -DKUHQ LPPHU HWZDV HU]lKOW $OV PLU GDQQ DOOH DXFK 6FKQHLGHU 9RUZUIH GDUEHU PDFKWHQ GD LFK PLW GHQ .LQGHUQ ZLH PLW (UZDFKVHQHQ VSUlFKH XQG LKQHQ QLFKWV YHUKHLPOLFKWH DQWZRUWHWH LFK LKQHQ PDQ PVVH VLFK VFKlPHQ GHQ .LQGHUQ HWZDVYRU]XOJHQVLHHUIKUHQMDGRFK DOOHV ZLH VHKU PDQ HV LKQHQDXFK]XYHUEHUJHQVXFKHXQGHUIKUHQ HV YLHOOHLFKW DXI HLQH KlOLFKH :HLVH ZHQQ VLH HV DEHU YRQ PLU K|UWHQ VR VHL GDV QLFKW GHU )DOO (LQ MHGHU EUDXFKH VLFK QXU DQ VHLQH HLJHQH .LQGKHLW ]X HULQQHUQ $EHU VLH VWLPPWHQ PLU QLFKW EHL *HNW KDWWH LFK 0DULH ]ZHL :RFKHQ YRU GHP 7RGH LKUHU 0XWWHUXQGDOVGHU3DVWRUMHQH/HLFKHQUHGHKLHOWZDUHQVFKRQ DOOH.LQGHUDXIPHLQHU6HLWH,FKHU]lKOWHLKQHQVRIRUWZLHVLFK GHU 3DVWRU EHQRPPHQ KDWWH XQG VDJWH LKQHQ ZLH LFK GDUEHU XUWHLOWHDOOHZDUHQVLHHPS|UWHLQLJHVRVHKUGDVLHLKPGLH )HQVWHUHLQZDUIHQ'LHVYHUERWLFKLKQHQ ZHLOGDVQLFKWPHKU UHFKW ZDU DEHU LP 'RUIH KDWWH PDQ VRIRUW DOOHV HUIDKUHQ XQG EHVFKXOGLJWH PLFK QXQ LFK YHUGUEH GLH .LQGHU 'DQQ HUIXKUHQ DXFK DOOH GD GLH .LQGHU 0DULH OLHEKDWWHQ XQG EHNDPHQ HLQHQ JHZDOWLJHQ 6FKUHFN 0DULH MHGRFK IKOWH VLFK VFKRQ JDQ] JOFNOLFK 0DQ YHUERW GHQ .LQGHUQ PLW LKU ]XVDPPHQ]XNRPPHQ DEHU VLH OLHIHQ KHLPOLFK ]X LKU QDFK
GHP]LHPOLFKZHLWIDVWHLQHKDOEH:HUVWYRP'RUIHHQWIHUQWHQ :HLGHSODW]GHU+HUGHVLHEUDFKWHQLKUGLHVXQGGDV]XP(VVHQ PLWPDQFKHDEHUOLHIHQDXFKHLQIDFKKLQXPVLH]XXPDUPHQ ]XNVVHQXQGLKU]XVDJHQ ¾-HYRXVDLPH0DULH½ XQGGDQQ +DOV EHU .RSI ZLHGHU ]XUFN]XUHQQHQ 0DULH YHUORU LQIROJH GLHVHVXQHUZDUWHWHQ*OFNHVIDVWGHQ9HUVWDQGVRHWZDVKlWWH VLH VLFK QLH WUlXPHQ ODVVHQ VLH VFKlPWH VLFK XQG IUHXWH VLFK ]XJOHLFK%HVRQGHUH)UHXGHPDFKWHHVGHQ]XLKUKLQODXIHQGHQ .LQGHUQXQGQDPHQWOLFKGHQNOHLQHQ0lGFKHQLKUPLW]XWHLOHQ GD LFK VLH 0DULH OLHEWH XQG VHKU YLHO PLW LKQHQ YRQ LKU VSUlFKH 6LH EHULFKWHWHQ LKU GD LFK LKQHQ DOOHV HU]lKOW KlWWH XQGGDVLHVLHMHW]WVHKUOLHEKlWWHQXQGEHPLWOHLGHWHQXQGLKU LPPHU WUHX EOHLEHQ ZUGHQ 'DQQ NDPHQ VLH ]X PLU JHODXIHQ XQG HU]lKOWHQ PLU PLW *HVLFKWFKHQ GLH YRQ IUHXGLJHP (LIHU VWUDKOWHQVLHKlWWHQVRHEHQPLW0DULHJHVSURFKHQXQGVLHODVVH PLFK JUHQ $EHQGV JLQJ LFK RIW QDFK GHP :DVVHUIDOO GRUW EHIDQGVLFKHLQQDFKGHP'RUIH]XJDQ]YHUGHFNWHU3ODW]XP GHQKHUXP3DSSHOQVWDQGHQGDYHUVDPPHOWHQVLFKGLH.LQGHU DEHQGVXPPLFKPDQFKHOLHIHQVRJDUKHLPOLFKDXVGHP'RUIH ZHJ ,FK JODXEH LKU JDQ] EHVRQGHUHV (QW]FNHQ ZDU PHLQH /LHEH]X0DULHXQGGLHVZDUZlKUHQGPHLQHVJDQ]HQGRUWLJHQ $XIHQWKDOWHV GHU HLQ]LJH 3XQNW LQ GHP LFK VLH WlXVFKWH ,FK OLHLKQHQ GHQ *ODXEHQ GD LFK 0DULH OLHEWH GDV KHLW LQ VLH YHUOLHEWVHLXQGVDJWHLKQHQQLFKWGDLFKVLHLQ:LUNOLFKNHLW QXUVHKUEHPLWOHLGHWHLFKVDKDQDOOHPGDHVLKQHQEHVVHUVR JHILHO ZLH VLH VLFK GDV VHOEVW DXVJHGDFKW XQG XQWHUHLQDQGHU ]XUHFKWJHOHJWKDWWHQXQGGDUXPVFKZLHJLFKXQGWDWDOVKlWWHQ VLH HV HUUDWHQ 8QG ZLH IHLQIKOLJ XQG ]lUWOLFK ZDUHQ GLHVH NOHLQHQ+HU]HQXQWHUDQGHUQPHLQWHQVLHGDVGUIHGRFKQLFKW VHLQ GD LKU JXWHU /HRQ 0DULH VR OLHEH XQG GLHVH 0DULH VR VFKOHFKWJHNOHLGHWVHLXQGNHLQH6FKXKHKDEH'HQNHQ6LHVLFK VLH EHVFKDIIWHQ LKU 6FKXKH XQG 6WUPSIH XQG :lVFKH XQG VRJDUHLQLJH.OHLGXQJVVWFNHDXIZHOFKHNOXJH:HLVHVLHGDV
IU] ,FKOLHEH6LH0DULH
]XVWDQGH EUDFKWHQ LVW PLU XQEHJUHLIOLFK GHU JDQ]H 6FKZDUP ZLUNWH GDEHL ]XVDPPHQ :HQQ LFK VLH GDUEHU EHIUDJWH ODFKWHQ VLH QXU OXVWLJ XQG GLH NOHLQHQ 0lGFKHQ NODWVFKWHQ LQ GLH+lQGHXQGNWHQPLFK0DQFKPDOJLQJDXFKLFKKHLPOLFK ]X 0DULH 6LH ZDU VFKRQ VHKU NUDQN XQG NRQQWH NDXP QRFK JHKHQ VFKOLHOLFK ZDU HV LKU JDU QLFKW PHKU P|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lIHQWUDWLKUGHU6FKZHLKHUYRU ,Q GLHVHP =XVWDQG IDQG LFK VLH LPPHU ,FK NDP VWHWV QXU DXI HLQHQ $XJHQEOLFN XQG ZQVFKWH DXFK QLFKW YRQ GHQ /HXWHQ JHVHKHQ]XZHUGHQ6REDOGLFKPLFK]HLJWHIXKU0DULHVRIRUW ]XVDPPHQ|IIQHWHGLH$XJHQXQGVWU]WHDXIPLFK]XXPPLU GLH +lQGH ]X NVVHQ ,FK HQW]RJ VLH LKU QLFKW PHKU ZHLO VLH GLHVDOVHLQ*OFNHPSIDQGGLH JDQ]H =HLWEHUZlKUHQGLFK EHL LKU VD ]LWWHUWH XQG ZHLQWH VLH HLQLJH 0DOH YHUVXFKWH VLH DOOHUGLQJVDXFK]XUHGHQDEHUHVZDUVFKZHUVLH]XYHUVWHKHQ 9RU $XIUHJXQJ XQG (QW]FNHQ ZDU VLH ZLH YRQ 6LQQHQ 0LWXQWHU NDPHQ DXFK GLH .LQGHU PLW VLH VWHOOWHQ VLFK GDQQ JHZ|KQOLFK LQ GHU 1lKH DXI XQG EHZDFKWHQ XQV YRU LUJHQG HWZDV XQG YRU LUJHQG MHPDQG XQG GDV ZDU IU VLH HLQ JDQ] EHVRQGHUHV 9HUJQJHQ :HQQ ZLU IRUWJLQJHQ EOLHE 0DULH ZLHGHU DOOHLQ UHJXQJVORV ZLH YRUKHU PLW JHVFKORVVHQHQ $XJHQGHQ.RSIDQGHQ)HOVHQJHOHKQWYLHOOHLFKWWUlXPWHVLH YRQLUJHQGHWZDV(LQHV7DJHVZDUVLHDP0RUJHQQLFKWPHKU LPVWDQGH ]X GHU +HUGH KLQDXV]XJHKHQ XQG EOLHE LQ LKUHP
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¾%RQMRXUQRWUHERQQH0DULH½ 6RZLHGLHVHVLHDEHUVDK RGHU K|UWH NHKUWH LKUH /HEHQVNUDIW ]XUFN XQG VLH YHUVXFKWH PLW $QVWUHQJXQJ RKQH DXI GLH DOWHQ )UDXHQ ]X K|UHQ VLFK DXI]XULFKWHQ XQG DXI GHQ (OOERJHQ ]X VWW]HQ QLFNWH GHQ .LQGHUQ ]X XQG GDQNWH LKQHQ 6LH EUDFKWHQ LKU ZLH IUKHU PLWXQWHU HLQ SDDU JXWH %LVVHQ PLW DEHU VLH D IDVW JDU QLFKWV PHKU ,FK YHUVLFKHUH ,KQHQ GDQN GHQ .LQGHUQ LVW VLH EHLQDK JOFNOLFK JHVWRUEHQ 'LH .LQGHU EHZLUNWHQ GD VLH LKU VFKZHUHV/HLGYHUJDVLHKDWWHGDV*HIKOGDVLHYRQLKQHQ 9HUJHEXQJ HPSIDQJHQ KDEH GHQQ VLH KLHOW VLFK ELV ]X LKUHP /HEHQVHQGH IU HLQH JURH 6QGHULQ 'LH .LQGHU VFKOXJHQ JOHLFKVDPZLHNOHLQH9|JHOPLWGHQ)OJHOFKHQDQGDV)HQVWHU GHU.UDQNHQXQGULHIHQLKUMHGHQ0RUJHQ]X¾1RXVW¶DLPRQV 0DULH½ 6LHVWDUEVHKUEDOG,FKKDWWHJHJODXEWVLHZUGHZHLW OlQJHU OHEHQ $P 7DJH YRU LKUHP 7RGH NDP LFK YRU 6RQQHQXQWHUJDQJ]XLKUVLHVFKLHQPLFK]XHUNHQQHQXQGLFK GUFNWHLKU]XPOHW]WHQ0DOHGLH+DQGDFKZLHDXVJHWURFNQHW ZDU GLHVH +DQG 8QG DP IROJHQGHQ 0RUJHQ NDP XQHUZDUWHW
IU] *XWHQ7DJXQVHUHJXWH0DULH IU] :LUOLHEHQGLFK0DULH
MHPDQG]XPLUXQGVDJWHGD0DULHJHVWRUEHQVHL1XQOLHHQ VLFKGLH.LQGHUQLFKW]XUFNKDOWHQVLHVFKPFNWHQLKUHQ6DUJ UHLFK PLW %OXPHQ XQG VHW]WHQ LKU HLQHQ .UDQ] DXI GHQ .RSI 'HU 3DVWRU VFKPlKWH LQ GHU .LUFKH GLH 7RWH QLFKW PHKU GLH ZHQLJHQ 0HQVFKHQ GLH VLFK ]XU %HHUGLJXQJ HLQJHIXQGHQ KDWWHQ ZDUHQ QXU DXV 1HXJLHU JHNRPPHQ DEHU DOV GHU 6DUJ ZHJJHWUDJHQ ZHUGHQ VROOWH GD VWU]WHQ GLH .LQGHU DOOH PLW HLQHP0DOHKHUEHLXPLKQVHOEVW]XWUDJHQ'DGD]XLKUH.UDIW QLFKW DXVUHLFKWH KDOIHQ HLQLJH YRQ LKQHQ ZHQLJVWHQV QDFK 0|JOLFKNHLWXQGGLHEULJHQOLHIHQKLQWHUGHP6DUJHKHUXQG DOOH ZHLQWHQ 0DULHV *UDE LVW VHLWGHP YRQ GHQ .LQGHUQ EHVWlQGLJ VFK|Q LQ 2UGQXQJ JHKDOWHQ ZRUGHQ VLH VFKPFNHQ HV MHGHV -DKU PLW %OXPHQ XQG KDEHQ ULQJVKHUXP 5RVHQVWUl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lKHU JHUFNW ,P OHW]WHQ -DKU YHUV|KQWH LFK PLFK VRJDU EHLQDK PLW 7KLEDXW XQG GHP 3DVWRU 6FKQHLGHU DEHU GLVSXWLHUWH PLW PLU YLHO EHU PHLQH YHUGHUEOLFKH ¾0HWKRGH½ PLW GHQ .LQGHUQ XP]XJHKHQ$EHUYRQHLQHU¾0HWKRGH½ZDUEHLPLUMDJDUQLFKW GLH 5HGH =XOHW]W ± HV ZDU VFKRQ NXU] YRU PHLQHU $EUHLVH ± VSUDFK 6FKQHLGHU PLU JHJHQEHU HLQHQ UHFKW VHOWVDPHQ *HGDQNHQ DXV HU VDJWH ]X PLU HU KDEH MHW]W GLH VLFKHUH hEHU]HXJXQJJHZRQQHQGDLFKVHOEVWHLQYROOVWlQGLJHV.LQG VHLLFKKlWWHQXUDQ:XFKVXQG*HVLFKWbKQOLFKNHLWPLWHLQHP (UZDFKVHQHQ DEHU ZDV GLH (QWZLFNOXQJ GHU 6HHOH GHV &KDUDNWHUVXQGYLHOOHLFKWDXFKGHV9HUVWDQGHVDQODQJHVHLLFK
NHLQ (UZDFKVHQHU XQG LFK ZUGH VR EOHLEHQ DXFK ZHQQ LFK VHFK]LJ -DKUH DOW ZUGH ,FK ODFKWH GDUEHU KHU]OLFK HU KDW QDWUOLFK XQUHFKW GHQQ LFK ELQ MD GRFK NHLQ NOHLQHV .LQG (LQHV LVW DOOHUGLQJV GDUDQ ZDKU QXU HLQHV LFK ELQ ZLUNOLFK QLFKWJHUQPLW(UZDFKVHQHQPLW*URHQ]XVDPPHQ±LFKKDEH GDV VFKRQ OlQJVW DQ PLU EHREDFKWHW ± LFK ELQ QLFKW JHUQ PLW LKQHQ]XVDPPHQZHLOLFKVLHQLFKWYHUVWHKH:DVVLHDXFKPLW PLUVSUHFKHQXQGZLHJXWVLHDXFKJHJHQPLFKVHLQP|JHQLFK IKOH PLFK GRFK VWHWV LQ LKUHU *HVHOOVFKDIW EHGUFNW XQG LFK ELQ KHLOIURK ZHQQ LFK VR EDOG ZLH P|JOLFK ]X PHLQHQ .DPHUDGHQ JHKHQ NDQQ XQG LPPHU ZDUHQ GLH .LQGHU PHLQH .DPHUDGHQ DEHU QLFKW ZHLO LFK VHOEVW HLQ .LQG ZDU VRQGHUQ ZHLOHVPLFKHLQIDFK]XGHQ .LQGHUQ KLQ]RJ :HQQ LFK QRFK DP $QIDQJ PHLQHV $XIHQWKDOWHV LQ GHP 'RUI DOOHLQ LQ GLH %HUJHJHJDQJHQZDUXPPHLQHP.XPPHUQDFK]XKlQJHQXQG ZHQQ LFK GDQQ QDPHQWOLFK PLWWDJV ZR VLH DXV GHU 6FKXOH NDPHQGLHVHPOlUPHQGHQ6FKZDUPEHJHJQHWHGHUPLWVHLQHQ %FKHUUDQ]HQ XQG 6FKLHIHUWDIHOQ VFKUHLHQG ODFKHQG XQG VSLHOHQG HLQKHUUDQQWH ± GDQQ VWUHEWH DXI HLQPDO PHLQH JDQ]H 6HHOH]XGLHVHQ.LQGHUQKLQ,FKZHLQLFKWZLHHVNDPDEHU LFK HPSIDQG EHL MHGHU %HJHJQXQJ PLW LKQHQ HLQ DXHURUGHQWOLFKVWDUNHV*HIKOYRQ*OFN,FKEOLHEVWHKHQXQG ODFKWH YRU )UHXGH ZHQQ LFK VDK ZLH LKUH NOHLQHQ IOLQNHQ %HLQFKHQ LQ VWlQGLJHU %HZHJXQJ ZDUHQ ZLH GLH NOHLQHQ -XQJHQ XQG 0lGFKHQ PLWHLQDQGHU GDKLQUDQQWHQ ZLH VLH ODFKWHQXQGZHLQWHQGHQQYLHOHKDWWHQDXIGHP:HJHYRQGHU 6FKXOH QDFK +DXV VFKRQ =HLW JHIXQGHQ VLFK ]X SUJHOQ ]X KHXOHQ VLFK ZLHGHU ]X YHUV|KQHQ XQG ZHLWHU]XVSLHOHQ XQG LFK YHUJD GDQQ PHLQHQ JDQ]HQ .XPPHU 6SlWHU ZlKUHQG GLHVHU JDQ]HQ GUHL -DKUH NRQQWH LFK JDU QLFKW EHJUHLIHQ ZHVKDOE GLH 0HQVFKHQ VLFK EHUKDXSW JUlPHQ 0HLQ JDQ]HV 'DVHLQ GUHKWH VLFK XP GLH .LQGHU ,FK QDKP JDU QLFKW LQ $XVVLFKWGDV'RUIMHPDOVZLHGHU]XYHUODVVHQXQGHVNDPPLU QLFKWLQGHQ6LQQGDLFKHLQPDOZLHGHUKLHUKHUQDFK5XODQG
IDKUHQZUGH,FKPHLQWHLFKZUGHLPPHUGRUWEOHLEHQDEHU LFK VDK VFKOLHOLFK HLQ GD 6FKQHLGHU GRFK QLFKW OlQJHU GLH 8QWHUKDOWVNRVWHQ IU PLFK WUDJHQ NRQQWH 8QG GDQQ NDP HLQH VR ZLFKWLJH 6DFKH KLQ]X GD 6FKQHLGHU PLFK VHOEVW ]XP 5HLVHQGUlQJWHXQGPLUGDV)DKUJHOG]XU5HLVHQDFKKLHUJDE ,FKZLOOQXQVHKHQZDVHLJHQWOLFKYRUOLHJWXQGMHPDQGXP5DW IUDJHQ9LHOOHLFKWZLUGVLFKPHLQlXHUHV6FKLFNVDOYROOVWlQGLJ DQGHUQDEHUGDVLVWQLFKWVRZLFKWLJXQGQLFKWGLH+DXSWVDFKH 'LH +DXSWVDFKH LVW GD VLFK EHUHLWV PHLQ JDQ]HV /HEHQ JHlQGHUW KDW ,FK KDEH GRUW YLHO YHUODVVHQ VHKU YLHO $OOHV LVW HQWVFKZXQGHQ,FKVDLP=XJHXQGGDFKWH¾-HW]WJHKHLFK]X GHQ0HQVFKHQLFKYHUVWHKHYLHOOHLFKWQRFKQLFKWVGDYRQDEHU HVKDWHLQQHXHV/HEHQIUPLFKEHJRQQHQ½,FKQDKPPLUYRU PHLQH $XIJDEH UHGOLFK XQG VWDQGKDIW ]X HUIOOHQ ,FK ZHUGH PLFKLP9HUNHKUPLWGHQ0HQVFKHQYLHOOHLFKWXQEHKDJOLFKXQG EHGUFNW IKOHQ ,FK KDEH PLU YRUJHQRPPHQ YRQ YRUQKHUHLQ JHJHQ DOOH K|IOLFK XQG RIIHQ ]X VHLQ PHKU ZLUG MD GRFK QLHPDQGYRQPLUYHUODQJHQ9LHOOHLFKWZHUGHQPLFKGLH/HXWH KLHU DXFK IU HLQ .LQG KDOWHQ QXQ PHLQHWZHJHQ (V KDOWHQ PLFK DXFK DOOH LFK ZHL QLFKW ZDUXP IU HLQHQ ,GLRWHQ XQG LFKZDUWDWVlFKOLFKHLQPDOVRNUDQNGDLFKGDPDOVPLWHLQHP ,GLRWHQbKQOLFKNHLWKDWWHDEHUZLHNDQQLFKMHW]WHLQ,GLRWVHLQ GD LFK GRFK VHOEVW EHJUHLIH GD PDQ PLFK IU HLQHQ ,GLRWHQ KlOW" :HQQ LFK VR LQ HLQ =LPPHU WUHWH GHQNH LFK ¾'D KDOWHQ PLFK QXQ GLH /HXWH IU HLQHQ ,GLRWHQ XQG LFK ELQ GRFK YHUVWlQGLJ DEHU VLH PHUNHQ GDV QLFKW HLQPDO ½ 'LHVHU *HGDQNH NRPPW PLU RIW $OV LFK LQ %HUOLQ DXV PHLQHP '|UIFKHQ HLQ SDDU NOHLQH %ULHIH HUKLHOW GLH GLH .LQGHU VLFK EHHLOW KDWWHQ VRJOHLFK DQ PLFK ]X VFKUHLEHQ GD HPSIDQG LFK HUVWJDQ] ZLH OLHE LFK VLH KDWWH (V LVW HLQ VHKU VFKPHU]OLFKHV *HIKOZHQQPDQGHQHUVWHQ%ULHIEHNRPPW:LHEHWUEWLFK ZDUHQDOVVLHPLUEHLPHLQHU$EUHLVHGDV*HOHLWJDEHQ6FKRQ HLQHQ0RQDWYRUKHUVDJWHQVLHKlXILJ¾/HRQV¶HQYD/HRQV¶HQ
YD SRXU WRXMRXUV½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lKU HLQH :HUVW HQWIHUQW ODJ 6LH QDKPHQ VLFK ]XVDPPHQ XP QLFKW ]X ZHLQHQ DEHU YLHOH NRQQWHQ VLFK GRFK QLFKW EHKHUUVFKHQ XQG ZHLQWHQ ODXW QDPHQWOLFK GLH 0lGFKHQ:LUEHHLOWHQXQVXPQLFKW]XVSlW]XNRPPHQDEHU XQWHUZHJVNDPGRFKEDOGGLHVHUEDOGMHQHUDXVGHP+DXIHQ]X PLUKLQJHVWU]WXPVFKODQJPLFK PLW VHLQHQ NOHLQHQ bUPFKHQ XQG NWH PLFK REJOHLFK HU GDGXUFK GHQ JDQ]HQ 7UXSS DXIKLHOW DEHU REJOHLFK ZLU HV HLOLJ KDWWHQ EOLHEHQ GRFK DOOH VWHKHQXQGZDUWHWHQELVHU$EVFKLHGJHQRPPHQKDWWH$OVLFK LQ GHQ :DJHQ JHVWLHJHQ ZDU XQG VLFK GHU =XJ LQ %HZHJXQJ VHW]WHVFKULHQVLHDOOH¾+XUUD½XQGVWDQGHQQRFKODQJHELVGHU =XJ JDQ] DEJHIDKUHQ ZDU 8QG DXFK LFK EOLFNWH QDFK LKQHQ ]XUFN:LVVHQ6LHDOVLFKYRUKLQKLHUHLQWUDWXQG,KUHOLHEHQ *HVLFKWHUVDK±LFKDFKWHMHW]WVHKUDXIGLH*HVLFKWHU±XQG ,KUH HUVWHQ :RUWH K|UWH GD ZXUGH PLU ]XP HUVWHQ 0DOH VHLW MHQHU =HLW OHLFKW XPV +HU] ,FK VDJWH PLU YRUKLQ VFKRQ GD LFK YLHOOHLFKW JHUDGH]X HLQ *OFNVNLQG ELQ LFK ZHL MD GD PDQ QLFKW HUZDUWHQ NDQQ VR EDOG VROFKH 0HQVFKHQ ]X WUHIIHQ GLH PDQ VRIRUW OLHEJHZLQQW XQG QXQ KDEH LFK 6LH NDXP GD LFK YRQGHU%DKQJHNRPPHQELQVRJOHLFKJHWURIIHQ,FKZHLVHKU ZRKO GD VLFK DOOH /HXWH VFKlPHQ YRQ LKUHQ *HIKOHQ ]X UHGHQ DEHU ,KQHQ JHJHQEHU VHKHQ 6LH UHGH LFK YRQ PHLQHQ *HIKOHQ XQG VFKlPH PLFK YRU ,KQHQ QLFKW ,FK ELQ
IU] /HRQIDKUWZHJ/HRQIlKUWZHJIULPPHU
PHQVFKHQVFKHX XQG ZHUGH YLHOOHLFKW ODQJH QLFKW ZLHGHU ]X ,KQHQ NRPPHQ 0LGHXWHQ 6LH PHLQH :RUWH QLFKW LFK VDJH GDV QLFKW HWZD ZHLO PLU GHU 9HUNHKU PLW ,KQHQ QLFKW YRQ KRKHP:HUWZlUHJODXEHQ6LHDXFKQLFKWGDLFKPLFKGXUFK LUJHQG HWZDV JHNUlQNW IKOWH 6LH IUDJWHQ PLFK YRUKLQ QDFK ,KUHQ*HVLFKWHUQXQGZDVLFKGDULQEHPHUNWKlWWHLFKZLOOHV ,KQHQ PLW GHP JU|WHQ 9HUJQJHQ VDJHQ 6LH $GHODLGD ,ZDQRZQDKDEHQ HLQ JOFNOLFKHV*HVLFKW GDV V\PSDWKLVFKVWH YRQ DOOHQ GUHLHQ *DQ] DEJHVHKHQ GDYRQ GD 6LH VHKU VFK|Q VLQGVDJWPDQVLFKEHL,KUHP$QEOLFN¾6LHKDWHLQ*HVLFKWZLH HLQH JXWH 6FKZHVWHU½ 6LH WUHWHQ HLQIDFK XQG KHLWHU DQ HLQHQ KHUDQ YHUVWHKHQ HV DEHU DXFK GDV +HU] VFKQHOO ]X HUNHQQHQ 6R GHQNH LFK EHU ,KU *HVLFKW $XFK 6LH $OH[DQGUD ,ZDQRZQD KDEHQ HLQ VFK|QHV XQG VHKU OLHEHV *HVLFKW DEHU YLHOOHLFKW KDEHQ 6LH HLQHQ JHKHLPHQ .XPPHU ,KU +HU] LVW RKQH =ZHLIHO VHKU JXW DEHU VLH VLQG QLFKW KHLWHU 6LH KDEHQ HLQHQ EHVRQGHUHQ =XJ LP *HVLFKW XQJHIlKU ZLH GLH +ROEHLQVFKH 0DGRQQD LQ 'UHVGHQ 'D KDEHQ 6LH PHLQH 0HLQXQJ DXFK EHU ,KU *HVLFKW NDQQ LFK JXW UDWHQ" 6LH QHKPHQMDVHOEVWDQGDLFKGLHVH)lKLJNHLWEHVLW]H:DVDEHU ,KU *HVLFKW DQODQJW /LVDZHWD 3URNRIMHZQD© ZDQGWH HU VLFK SO|W]OLFK ]XU *HQHUDOLQ ªVR KDEH LFK DXI *UXQG GHVVHOEHQ QLFKW QXU GLH 9HUPXWXQJ VRQGHUQ GLH hEHU]HXJXQJ GD 6LH HLQYROOVWlQGLJHV.LQGVLQGLQDOOXQGMHGHU+LQVLFKWLQDOOHP *XWHQ XQG DOOHP 6FKOHFKWHQ REZRKO 6LH EHUHLWV LQ HLQHP VROFKHQ/HEHQVDOWHUVWHKHQ6LHVLQGGRFKQLFKWE|VHZHLOLFK GDVDOOHVVRRIIHQDXVVSUHFKH"6LHZLVVHQMDZRIULFK.LQGHU KDOWH8QGJODXEHQ6LHQLFKWGDLFK,KQHQGDVDOOHVEHU,KUH *HVLFKWHU VRHEHQ OHGLJOLFK DXV 1DLYLWlW VR IUHLKHUDXV JHVDJW KDEH R QHLQ GXUFKDXV QLFKW 9LHOOHLFKW KDWWH DXFK LFK PHLQH EHVRQGHUH$EVLFKWGDEHL©
9,, $OV GHU )UVW QXQ VFKZLHJ EOLFNWHQ DOOH VHOEVW $JODMD QDPHQWOLFK DEHU /LVDZHWD 3URNRIMHZQD LKQ YHUJQJW DQ ª'D KDEWLKULKQMDQHWWH[DPLQLHUW©ULHIVLHª-DPHLQHYHUHKUWHQ 'DPHQLKUGDFKWHWLKUZUGHWLKQZLHHLQHQDUPHQ6FKOXFNHU SURWHJLHUHQ XQG QXQ KDW HU VHOEVW HXFK QXU JHUDGH QRFK IU HLQHVHLQHU ZUGLJH*HVHOOVFKDIWHUNOlUWXQGQRFKGD]X JOHLFK YRUKHUDQJHNQGLJWGDHUQXUVHOWHQKHUNRPPHQZHUGH6HKW LKU ZRKO GD VLQG ZLU QXQ ± ZRUEHU LFK PLFK IUHXH ± GLH %ODPLHUWHQ XQG DP DOOHUPHLVWHQ ,ZDQ )MRGRURZLWVFK %UDYR )UVW:LUKDWWHQYRUKLQGLH:HLVXQJHUKDOWHQZLUVROOWHQ6LH H[DPLQLHUHQ:DV6LHDEHUYRQPHLQHP*HVLFKWVDJWHQGDVLVW GXUFKDXV ULFKWLJ LFK ELQ HLQ .LQG XQG ZHL GDV ,FK KDEH HV VFKRQIUKHU JHZXW DOV 6LH XQG 6LH KDEHQ QXU PHLQH HLJHQH $QVLFKW LQ NQDSSHU )RUP ]XP $XVGUXFN JHEUDFKW ,FK PHLQH GD,KU&KDUDNWHUPLWGHPPHLQLJHQY|OOLJEHUHLQVWLPPWXQG IUHXH PLFK VHKU GDUEHU GLH EHLGHQ VLQG VLFK lKQOLFK ZLH HLQ (LGHPDQGHUQ1XUVLQG6LHHLQ0DQQXQGLFKHLQH)UDXDXFK ELQ LFK QLFKW LQ GHU 6FKZHL] JHZHVHQ GDV LVW GHU JDQ]H 8QWHUVFKLHG© ª6DFKWH VDFKWH PDPDQ© ULHI $JODMD ª'HU )UVW VDJW MD GD HU EHL DOO VHLQHQ IUHLPWLJHQ $XVHLQDQGHUVHW]XQJHQ HLQHEHVRQGHUH$EVLFKWKDWWH XQG QLFKW RKQH +LQWHUJHGDQNHQ JHVSURFKHQ KDW© ª-D MD© VWLPPWHQ LKU GLH DQGHUQ ODFKHQG EHL ª=LHKW LKQ QLFKW DXI OLHEH .LQGHU HV ZLUGYLHOOHLFKWQRFKVRKHUDXVNRPPHQGD HUVFKODXHULVWDOV LKU DOOH GUHL ]XVDPPHQ ,KU ZHUGHW MD VHKHQ $EHU ZDUXP KDEHQ 6LH QLFKWV YRQ $JODMD JHVDJW )UVW" $JODMD ZDUWHW GDUDXI XQG LFK HEHQIDOOV© ª,FK NDQQ LP $XJHQEOLFN QLFKWV EHU VLH VDJHQ ,FK ZHUGH HV VSlWHU WXQ© ª:DUXP GHQQ" 6LH VFKHLQWGRFKHLQHHLJHQDUWLJH3HUV|QOLFKNHLW]XVHLQ© ª2 MD GDV LVW VLH 6LH VLQG HLQH KHUYRUUDJHQGH 6FK|QKHLW $JODMD ,ZDQRZQD6LHVLQGVRVFK|QGDPDQVLFKRUGHQWOLFK IUFKWHW 6LH DQ]XVHKHQ© ª,VW GDV DOOHV" 8QG LKUH
(LJHQVFKDIWHQ"©VHW]WHLKPGLH*HQHUDOLQKDUWQlFNLJ]XªhEHU GLH6FK|QKHLWLVWVFKZHU]XXUWHLOHQLFKELQQRFKQLFKWVRZHLW GD LFK PHLQH $QVLFKW DXVVSUHFKHQ N|QQWH 'LH 6FK|QKHLW LVW HLQ5lWVHO©ª'DPLWKDEHQ6LH$JODMDHLQ5lWVHODXIJHJHEHQ© VDJWH $GHODLGD ª1XQ UDWH HLQPDO $JODMD $EHU VFK|Q LVW VLH )UVW QLFKW ZDKU"© ª$XHURUGHQWOLFK VFK|Q© DQWZRUWHWH GHU )UVW OHEKDIW XQG EOLFNWH $JODMD JDQ] HQW]FNW DQ ª)DVW VR VFK|QZLH1DVWDVMD)LOLSSRZQDREZRKOGDV*HVLFKWYRQJDQ] DQGHUHU$UWLVW© $OOH VDKHQ HLQDQGHU HUVWDXQW DQ ª:LH ZHHU"© IUDJWH GLH *HQHUDOLQJHGHKQW ª:LH1DVWDVMD )LOLSSRZQD":RKDEHQ6LH 1DVWDVMD )LOLSSRZQD JHVHKHQ" :DV IU HLQH 1DVWDVMD )LOLSSRZQD"© ª*DZULOD $UGDOLRQRZLWVFK KDW YRUKLQ LKU %LOG ,ZDQ)MRGRURZLWVFKJH]HLJW©ª:LH"(UKDWPHLQHP0DQQHLKU 3RUWUlW JHEUDFKW"© ª1XU XP HV LKP ]X ]HLJHQ 1DVWDVMD )LOLSSRZQDKDWWHLKPKHXWHLKU%LOGJHVFKHQNWXQGGDEUDFKWH HU HV KHU XP HV ]X ]HLJHQ© ª,FK ZLOO HV VHKHQ© ULHI GLH *HQHUDOLQ KHIWLJ ª:R LVW GLHVHV %LOG" :HQQ VLH HV LKP JHVFKHQNW KDW VR PX HU HV KDEHQ XQG HU LVW JHZL QRFK LP $UEHLWV]LPPHU (U NRPPW PLWWZRFKV LPPHU KHU XP KLHU ]X DUEHLWHQ XQG JHKW QLH YRU YLHU 8KU ZHJ /DW *DZULOD $UGDOLRQRZLWVFKVRJOHLFKKHUUXIHQ2GHUQHLQ,FKVHKQHPLFK QLFKW EHUPlLJ GDQDFK LKQ ]X VHKHQ 7XQ 6LH PLU GHQ *HIDOOHQEHVWHU)UVWJHKHQ6LHLQGDV$UEHLWV]LPPHUODVVHQ 6LHVLFKYRQLKPGDV%LOGJHEHQXQGEULQJHQ6LHHVKHU6DJHQ 6LHLFKZROOHHVJHUQHLQPDOVHKHQ6HLHQ6LHVRIUHXQGOLFK© ª(U LVW HLQ JXWHU 0HQVFK DEHU GRFK JDU ]X HLQIlOWLJ© VDJWH $GHODLGD DOV GHU )UVW KLQDXVJHJDQJHQ ZDU ª-D JDU ]X HLQIlOWLJ© VWLPPWH $OH[DQGUD LKU EHL ªVR GD HU VRJDU HLQ ELFKHQNRPLVFKHUVFKHLQW© 'LH HLQH ZLH GLH DQGHUH VFKLHQ GDV ZDV VLH GDFKWH QLFKW YROOVWlQGLJDXV]XVSUHFKHQª0LWXQVHUHQ*HVLFKWHUQKDWHUVLFK EULJHQV JXW DXV GHU $IIlUH JH]RJHQ© EHPHUNWH $JODMD ª(U KDW XQV DOOHQ JHVFKPHLFKHOW VRJDU PDPDQ© ª%LWWH NHLQH
6S|WWHOHLHQ© ULHI GLH *HQHUDOLQ ª(U KDW QLFKW JHVFKPHLFKHOW VRQGHUQ LFK IKOH PLFK JHVFKPHLFKHOW© ª0HLQVW GX GD HU VLFKQXUDXVGHU$IIlUH]LHKHQZROOWH"©IUDJWH$GHODLGD ª0LU VFKHLQW HU LVW JDU QLFKW VR HLQIlOWLJ© YHUVHW]WH $JODMD ª:DV UHGHW LKU GD© HUHLIHUWH VLFK GLH *HQHUDOLQ ª0HLQHU $QVLFKW QDFK VHLG LKU QRFK NRPLVFKHU DOV HU (U LVW HLQ VFKOLFKWHU 0HQVFK XQG KDW VHLQHQ .RSI IU VLFK VHOEVWYHUVWlQGOLFK LP EHVWHQ6LQQH*DQ]ZLHLFK© ¾(V ZDU JHZL HLQH 'XPPKHLW GD LFK PLU GDV YRQ GHP %LOGHHQWVFKOSIHQOLH½VDJWHVLFKGHU)UVWZlKUHQGHUQDFK GHP $UEHLWV]LPPHU JLQJ XQG IKOWH GDEHL HLQLJH *HZLVVHQVELVVH ¾$EHU YLHOOHLFKW KDEH LFK JXW GDUDQ JHWDQ GD LFK GDYRQ DQILQJ ½ (V JLQJ LKP HLQ VRQGHUEDUHU QRFK QLFKWJDQ]NODUHU*HGDQNHGXUFKGHQ.RSI *DZULOD $UGDOLRQRZLWVFK VD QRFK LP $UEHLWV]LPPHU XQG ZDULQVHLQH3DSLHUHYHUWLHIW(UVFKLHQLQGHU7DWVHLQ *HKDOW YRQ GHU $NWLHQJHVHOOVFKDIW QLFKW RKQH *HJHQOHLVWXQJ ]X EH]LHKHQ(UZXUGHIXUFKWEDUYHUOHJHQDOVGHU)UVWQDFKGHP %LOG IUDJWH XQG HU]lKOWH DXI ZHOFKH :HLVH GLH 'DPHQ YRQ GLHVHP %LOG HWZDV HUIDKUHQ KDWWHQ ª'RQQHUZHWWHU :R]X PXWHQ 6LH GDYRQ VFKZDW]HQ"© ULHI HU LQ JULPPLJHP bUJHU ª6LHYHUVWHKHQMDQLFKWVGDYRQ,GLRW©PXUPHOWHHUYRUVLFK KLQª9HU]HLKXQJLFKKDEHHVJHVDJWRKQHPLUHWZDVGDEHL]X GHQNHQ 'DV *HVSUlFK NDP ]XIlOOLJ GDUDXI ,FK VDJWH $JODMD VHLIDVWHEHQVRVFK|QZLH1DVWDVMD)LOLSSRZQD© *DQMDEDWLKQLKPEHUGDV*HVSUlFK*HQDXHUHVPLW]XWHLOHQ XQGGHU)UVWHU]lKOWH*DQMDVDKLKQZLHGHUVS|WWLVFKDQª,FK P|FKWH ZLVVHQ ZDV 6LH VLFK XP 1DVWDVMD )LOLSSRZQD © PXUPHOWH HU YHUVDQN DEHU RKQH GHQ 6DW] ]X EHHQGHQ LQ *HGDQNHQ (UZDULQVLFKWOLFKHU8QUXKH'HU)UVWHULQQHUWHLKQDQGDV %LOGª+|UHQ6LH)UVW©VDJWH*DQMDDXIHLQPDOZLHZHQQHLQ SO|W]OLFKHU *HGDQNH LQ VHLQHP .RSI DXIOHXFKWHWH ªLFK KDEH HLQHJURH%LWWHDQ6LH$EHULFKZHLZLUNOLFKQLFKW©
(UZXUGHYHUZLUUWXQGVSUDFKGHQEHJRQQHQHQ6DW]QLFKW]X (QGH (V VFKLHQ DOV RE HU HLQHQ (QWVFKOX IDVVHQ ZROOH DEHU PLW VLFK VHOEVW NlPSIH 'HU )UVW ZDUWHWH VFKZHLJHQG *DQMD VDKLKQQRFKHLQPDO PLW HLQHP IRUVFKHQGHQ GXUFKGULQJHQGHQ %OLFN DQ ª)UVW© EHJDQQ HU YRQ QHXHP ªPDQ LVW GRUW DXI PLFK DXJHQEOLFNOLFK LQIROJH HLQHV JDQ] VRQGHUEDUHQ 8PVWDQGHVDQGHPLFKNHLQH6FKXOGWUDJHQXQNXU] GDV JHK|UW QLFKW KLHUKHU PDQ LVW GRUW DXI PLFK ZLH HV VFKHLQW HLQZHQLJE|VHVRGDLFKIUHLQLJH=HLWQLFKWRKQHEHVRQGHUH $XIIRUGHUXQJ KLQJHKHQ P|FKWH ,FK PX MHW]W DEHU JDQ] QRWZHQGLJ PLW $JODMD ,ZDQRZQD VSUHFKHQ ,FK KDEH KLHU IU DOOH )lOOH HLQ SDDU :RUWH DQ VLH JHVFKULHEHQ© HU KDWWH DXI HLQPDOHLQHQNOHLQHQ]XVDPPHQJHIDOWHWHQ=HWWHOLQGHU+DQG ªXQG ZHL QXQ QLFKW ZLH LFK VLH LKU ]XJHKHQ ODVVHQ VROO 0|FKWHQ 6LH HV QLFKW EHUQHKPHQ )UVW GLHVHV %OlWWFKHQ $JODMD ,ZDQRZQD DE]XJHEHQ MHW]W JOHLFK DEHU QXU $JODMD ,ZDQRZQDDOOHLQGDVKHLWVRGDHVQLHPDQGVLHKWYHUVWHKHQ 6LH"(VKDQGHOWVLFKQLFKWXPLUJHQGZHOFKHDUJH+HLPOLFKNHLW HV LVW QLFKWV 'HUDUWLJHV DEHU ZROOHQ 6LH HV WXQ"© ª'LH 6DFKH LVW PLU QLFKW VHKU DQJHQHKP© DQWZRUWHWH GHU )UVW ª$FK)UVWLFKELQLQGHUlXHUVWHQ1RWODJH©EDW*DQMDª6LH ZLUG YLHOOHLFKW DQWZRUWHQ 6HLHQ 6LH YHUVLFKHUW GD QXU GLH GULQJHQGH 1RWZHQGLJNHLW GLH DOOHUGULQJHQGVWH 1RWZHQGLJNHLW PLFK YHUDQODW PLFK DQ 6LH ]X ZHQGHQ 'XUFK ZHQ VROOWH LFK HV VRQVW KLQVFKLFNHQ" 'LH 6DFKH LVW VHKU ZLFKWLJ DXHURUGHQWOLFKZLFKWLJIUPLFK© *DQMD ZDU LQ JU|WHU $QJVW GHU )UVW N|QQWH HV LKP DEVFKODJHQXQGEOLFNWHLKPIXUFKWVDPELWWHQGLQGLH $XJHQ ª1XQ PHLQHWZHJHQ LFK ZHUGH HV EHUJHEHQ© ª$EHU QXU VR GD QLHPDQG HV EHPHUNW© EDW GHU HUIUHXWH *DQMD ª8QG QRFK HLQV )UVW LFK NDQQ PLFK GRFK ZRKO DXI ,KU (KUHQZRUW YHUODVVHQ QLFKW ZDKU"© ª,FK ZHUGH HV QLHPDQGHP ]HLJHQ© HUZLGHUWH GHU )UVW ª'DV %LOOHWW LVW QLFKW YHUVLHJHOW DEHU *DQMDPHUNWHGDHULQVHLQHUEHUJURHQ6RUJH]XYLHOVDJWH
XQG KLHOW YHUOHJHQ LQQH ª2K LFK ZHUGH HV QLFKW OHVHQ© YHUVHW]WH GHU )UVW JDQ] VFKOLFKW QDKP GDV %LOG XQG YHUOLH GDV$UEHLWV]LPPHU $OV *DQMD DOOHLQ JHEOLHEHQ ZDU JULII HU VLFK DQ GHQ .RSI ª(LQ :RUW YRQ LKU XQG LFK XQG LFK EUHFKH YLHOOHLFKW ZLUNOLFKGLHVH%H]LHKXQJDE© 9RU $XIUHJXQJ XQG JHVSDQQWHU (UZDUWXQJ ZDU HU QLFKW LPVWDQGH VLFK ZLHGHU DQ VHLQH 3DSLHUH ]X VHW]HQ VRQGHUQ VFKULWW LP $UEHLWV]LPPHU YRQ HLQHU (FNH LQ GLH DQGHUH 'HU )UVW JLQJ VHKU QDFKGHQNOLFK ]XUFN GHU $XIWUDJ ZDU LKP XQDQJHQHKP XQDQJHQHKP ZDU LKP DXFK GHU *HGDQNH GD *DQMD PLW $JODMD LQ .RUUHVSRQGHQ] VWDQG $EHU DOV HU QRFK ]ZHL =LPPHU ]X SDVVLHUHQ KDWWH XP ZLHGHU LQ GHQ 6DORQ ]X JHODQJHQ EOLHE HU SO|W]OLFK VWHKHQ DOV RE LKP HWZDV HLQILHOH EOLFNWHVLFKXPWUDWDQV)HQVWHUUHFKWQDKHDQGDV/LFKWXQG EHJDQQ1DVWDVMD)LOLSSRZQDV%LOG]XEHWUDFKWHQ (U KlWWH JHUQ HWZDV HQWUlWVHOW ZDV LQ GLHVHP *HVLFKW YHUERUJHQODJXQGLKQYRUKLQIUDSSLHUWKDWWH'HU(LQGUXFNYRQ YRUKLQ ZDU LQ LKP KDIWHQJHEOLHEHQ XQG HU EHHLOWH VLFK MHW]W LKQ YRQ QHXHP QDFK]XSUIHQ 'LHVHV GXUFK VHLQH 6FK|QKHLW XQG QRFK GXUFK HWZDV DQGHUHV DXIIDOOHQGH *HVLFKW EWH MHW]W DXI LKQ HLQH QRFK VWlUNHUH :LUNXQJ DXV (LQ JUHQ]HQORVHU 6WRO] HLQH JUHQ]HQORVH 9HUDFKWXQJ GLH IDVW ZLH +D DXVVDK ODJHQ LQ GLHVHP *HVLFKW XQG ]X JOHLFKHU =HLW HWZDV =XWUDXOLFKHV HUVWDXQOLFK 2IIHQKHU]LJHV GLHVHU .RQWUDVW HUZHFNWH EHL GHP GHU GLHVH =JH EHWUDFKWHWH VRJDU HLQ JHZLVVHV 0LWOHLG 'LHVH EOHQGHQGH 6FK|QKHLW ZDU JHUDGH]X XQHUWUlJOLFK GLH 6FK|QKHLW GHV EODVVHQ *HVLFKWV GHU IDVW HLQJHIDOOHQHQ :DQJHQ XQG JOKHQGHQ $XJHQ ± HLQH VHOWVDPH 6FK|QKHLW 'HU )UVW EHWUDFKWHWH GDV %LOG ZRKO HLQH 0LQXWH ODQJ GDQQ ]XFNWH HU DXI HLQPDO ]XVDPPHQ EOLFNWH ULQJV XP VLFKIKUWHGDV%LOGHLOLJDQVHLQH/LSSHQXQGNWHHV$OVHU HLQHQ $XJHQEOLFN GDUDXI LQ GHQ 6DORQ WUDW ZDU VHLQ *HVLFKW ZLHGHUYROONRPPHQUXKLJ
$EHU DOV HU LQ GDV (]LPPHU JHODQJWH GDV QRFK GXUFK HLQ =LPPHU YRP 6DORQ JHWUHQQW ZDU VWLH HU LQ GHU 7U EHLQDKH PLW GHU KHUDXVNRPPHQGHQ $JODMD ]XVDPPHQ 6LH ZDU DOOHLQ ª*DZULOD$UGDOLRQRZLWVFKKDWPLFKJHEHWHQ,KQHQGLHVKLHU]X EHUJHEHQ©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lFKHOWH OHLVH XQG JLQJYRUEHU 'LH*HQHUDOLQEHWUDFKWHWHHLQH=HLWODQJVFKZHLJHQGXQGPLW HLQHP OHLVHQ $XVGUXFN YRQ *HULQJVFKlW]XQJ 1DVWDVMD )LOLSSRZQDV %LOG GDV VLH PLW DXVJHVWUHFNWHP $UP VHKU ZHLW YRQ GHQ $XJHQ KLHOW ª-D VFK|Q LVW VLH© VDJWH VLH HQGOLFK ªVRJDUVHKUVFK|Q,FKKDEHVLH]ZHLPDOJHVHKHQDEHUQXUYRQ ZHLWHP $OVR HLQH VROFKH 6FK|QKHLW EHZXQGHUQ 6LH"© ZDQGWH VLH VLFK SO|W]OLFK DQ GHQ )UVWHQ ª(LQH VROFKH MD © DQWZRUWHWH GHU )UVW PLW HLQLJHU hEHUZLQGXQJ ª*HUDGH HLQH VROFKH"© ª-D© ª:DUXP GHQQ"© ª,Q GLHVHP *HVLFKW OLHJW VRYLHO /HLG © VDJWH GHU )UVW HV VFKLHQ DOV NlPHQ GLHVH :RUWH XQZLOONUOLFK DXV VHLQHP 0XQGH XQG DOV DQWZRUWHWH HU QLFKW DXI GLH )UDJH VRQGHUQ VSUlFKH IU VLFK ª'DV LVW EULJHQV YLHOOHLFKW QXU HLQH 3KDQWDVLH YRQ ,KQHQ© EHPHUNWH GLH *HQHUDOLQ NXU] XQG ZDUI PLW HLQHU KRFKPWLJHQ *HElUGH GDV %LOGYRQVLFKZHJDXIGHQ7LVFK $OH[DQGUDQDKPHV$GHODLGDWUDW]XLKUXQGEHLGHEHJDQQHQ HV ]X EHWUDFKWHQ ,Q GLHVHP $XJHQEOLFN NHKUWH $JODMD ZLHGHU
LQGHQ6DORQ]XUFN ª'DVLVWHLQHJHZDOWLJH0DFKW©ULHIDXI HLQPDO$GHODLGDGLHEHUGLH6FKXOWHULKUHU6FKZHVWHUKLQZHJ GDV%LOGPLWJU|WHP,QWHUHVVHDQVDKª:LHVR",QZLHIHUQHLQH 0DFKW"©IUDJWH/LVDZHWD3URNRIMHZQDLQVFKDUIHP7RQª(LQH VROFKH 6FK|QKHLW LVW HLQH 0DFKW© HUZLGHUWH $GHODLGD HQWKXVLDVWLVFK ª0LW HLQHU VROFKHQ 6FK|QKHLW NDQQ PDQ GLH :HOWXPGUHKHQ© ,Q *HGDQNHQ YHUVXQNHQ JLQJ VLH ]X LKUHU 6WDIIHOHL $JODMD VDKGDV%LOGQXUIOFKWLJDQNQLIIGLH$XJHQ]XVDPPHQVFKRE GLH 8QWHUOLSSH YRU JLQJ ]XU 6HLWH XQG VHW]WH OLHK GD PLW ]XVDPPHQJHOHJWHQ+lQGHQKLQ 'LH*HQHUDOLQNOLQJHOWHª5XIH*DZULOD$UGDOLRQRZLWVFKKHU HULVWLP$UEHLWV]LPPHU©EHIDKOVLHGHPHLQWUHWHQGHQ'LHQHU ª$EHU PDPDQ© ULHI $OH[DQGUD PLW EHGHXWVDPHU %HWRQXQJ ª,FK ZLOO LKP QXU HLQ SDDU :RUWH VDJHQ XQG GDPLW EDVWD© HUNOlUWH GLH *HQHUDOLQ VFKQHOO LQ EHVWLPPWHP VFKDUIHP 7RQ GHU MHGH :LGHUUHGH DEVFKQLWW 6LH EHIDQG VLFK RIIHQEDU LQ JHUHL]WHU 6WLPPXQJ ª6HKHQ 6LH )UVW EHL XQV KLHU JLEW HV MHW]W ODXWHU *HKHLPQLVVH ODXWHU *HKHLPQLVVH 'LH (WLNHWWH YHUODQJWGDVREZRKOHVHLQH'XPPKHLWLVW8QGQRFKGD]XEHL HLQHU 6DFKH EHL GHU GLH JU|WH 2IIHQKHLW .ODUKHLW XQG (KUOLFKNHLW HUIRUGHUOLFK LVW (V VLQG (KHVFKOLHXQJHQ LP :HUNH DEHU GLHVH (KHQ ZROOHQ PLU JDU QLFKW JHIDOOHQ © ª0DPDQZDVUHGHQ6LHGD"©XQWHUEUDFK$OH[DQGUDVLHZLHGHU HLOLJ XP VLH YRQ ZHLWHUHQ bXHUXQJHQ ]XUFN]XKDOWHQ ª:DV ZLOOVWGXOLHEH7RFKWHU"*HIDOOHQVLHGHQQGLU"'DGHU)UVW GDEHL ]XK|UW WXW QLFKWV ZLU VLQG MD )UHXQGH ,FK XQG HU ZHQLJVWHQV (V KHLW ¾*RWW VXFKW VLFK 0HQVFKHQ½ DEHU QDWUOLFK JXWH 0HQVFKHQ VFKOHFKWH XQG ODXQLVFKH GLH VLFK KHXWHVRHQWVFKHLGHQXQGPRUJHQZLHGHUDQGHUVUHGHQNDQQHU QLFKW JHEUDXFKHQ 9HUVWHKHQ 6LH ZRKO $OH[DQGUD ,ZDQRZQD" 0HLQH7|FKWHUVDJHQ)UVWLFKVHLZXQGHUOLFKDEHULFKKDEH HLQNODUHVJHVXQGHV8UWHLO'HQQGDV+HU]LVWGLH+DXSWVDFKH XQG DOOHV EULJH LVW GXPPHV =HXJ 9HUVWDQG LVW IUHLOLFK DXFK
Q|WLJJHZLYLHOOHLFKWLVWGHU9HUVWDQGVRJDUGLHDOOHUJU|WH +DXSWVDFKH /DFKH QLFKW $JODMD LFK ZLGHUVSUHFKH PLU QLFKW HLQ :HLE PLW +HU] RKQH 9HUVWDQG LVW HEHQVR XQJOFNOLFK ZLH HLQ:HLEPLW9HUVWDQGRKQH+HU]'DVLVWHLQH DOWH:DKUKHLW ,FK ELQ HLQ :HLE PLW +HU] RKQH 9HUVWDQG XQG GX HLQV PLW 9HUVWDQG RKQH +HU] ZLU VLQG EHLGH XQJOFNOLFK XQG PVVHQ EHLGH YLHO OHLGHQ© ª,QZLHIHUQ VLQG 6LH GHQQ VR XQJOFNOLFK PDPDQ"© NRQQWH $GHODLGD VLFK QLFKW HQWKDOWHQ ]X IUDJHQ VLH ZDU DQVFKHLQHQG YRQ GHU JDQ]HQ *HVHOOVFKDIW GLH HLQ]LJH GLH LKUHKHLWHUH6WLPPXQJ QLFKW YHUORUHQ KDWWH ª(UVWHQV ZHLO LFK VR JHOHKUWH 7|FKWHU KDEH© VFKQLWW LKU GLH *HQHUDOLQ GDV :RUW DE ª8QG GD GLHV HLQH VFKRQ JDQ] KLQUHLFKHQG LVW VR EUDXFKH LFK GDV EULJH QLFKW HUVW ODQJH DXI]X]lKOHQ $EHU QXQ JHQXJ GHV *HUHGHV :LU ZROOHQ HLQPDO VHKHQ ZLH LKU EHLGH YRQ $JODMD UHGH LFK QLFKW PLW HXUHP 9HUVWDQG XQG PLW HXUHU 5HGHNXQVW HXFK KHUDXVZLFNHOQ ZHUGHW XQG RE 6LH YHUHKUWH $OH[DQGUD ,ZDQRZQD PLW ,KUHP JHVFKlW]WHQ +HUUQ *HPDKO JOFNOLFK VHLQ ZHUGHQ $K © ULHI VLH DOV VLH GHQ HLQWUHWHQGHQ *DQMD HUEOLFNWH ªGD NRPPW QRFK VR HLQ (KHNDQGLGDW *XWHQ 0RUJHQ© HUZLGHUWH VLH DXI *DQMDV 9HUEHXJXQJ RKQH LKQ ]XP 6LW]HQ DXI]XIRUGHUQ ª6LH ZROOHQ HLQH (KH HLQJHKHQ"© ª(LQH (KH" :LHVR" :DV IU HLQH (KH" © PXUPHOWH *DZULOD $UGDOLRQRZLWVFK JDQ] YHUEOIIW (U ZDU VFKUHFNOLFK YHUOHJHQ ª6LH ZROOHQ KHLUDWHQ" IUDJH LFK ZHQQ ,KQHQ GLHVHU $XVGUXFN OLHEHU LVW© ª1QHLQ LFK Q QHLQ©ORJ*DZULOD$UGDOLRQRZLWVFKXQG6FKDPU|WHHUJRVLFK EHU VHLQ *HVLFKW (U ZDUI HLOLJ HLQHQ %OLFN DXI GLH DEVHLWV VLW]HQGH $JODMD XQG OLH VHLQH $XJHQ VFKQHOO ZLHGHU ZHLWHUJOHLWHQ $JODMD VDK LKQ NDOW JHUDGH XQG UXKLJ DQ RKQH GLH $XJHQ YRQ LKP DE]XZHQGHQ XQG EHREDFKWHWH VHLQH 9HUZLUUXQJ ª1HLQ" 6LH KDEHQ QHLQ JHVDJW"© VHW]WH GLH XQHUELWWOLFKH/LVDZHWD3URNRIMHZQDGDV9HUK|UEHKDUUOLFKIRUW ª*XW LFK ZHUGH HV PLU PHUNHQ GD 6LH KHXWH 0LWWZRFK YRUPLWWDJ DXI PHLQH )UDJH PLW 1HLQ JHDQWZRUWHW KDEHQ :DV
KDEHQ ZLU KHXWH IU HLQHQ 7DJ ± 0LWWZRFK"© ª,FK JODXEH 0LWWZRFK PDPDQ© DQWZRUWHWH $GHODLGD ª,KU ZLW GRFK QLH GLH :RFKHQWDJH 8QG ZDV IU HLQ 'DWXP"© ª'HQ 6LHEHQXQG]ZDQ]LJVWHQ© DQWZRUWHWH *DQMD ª'HQ 6LHEHQXQG]ZDQ]LJVWHQ" 'DV LVW QW]OLFK ]X ZLVVHQ ZHJHQ HLQHUJHZLVVHQ%HUHFKQXQJ/HEHQ6LHZRKO6LHKDEHQVLFKHU YLHO]XWXQXQGIUPLFKLVWHV=HLWGDLFKPLFKDQ]LHKHXQG DXVIDKUHQHKPHQ6LH,KU%LOGZLHGHUPLW(PSIHKOHQ6LHPLFK GHU XQJOFNOLFKHQ 1LQD $OH[DQGURZQD $XI :LHGHUVHKHQ PHLQ OLHEHU )UVW .RPPHQ 6LH UHFKW RIW ZLHGHU KHU LFK ZLOO MHW]W HLOLJVW ]X GHU DOWHQ %MHORNRQVNDMD IDKUHQ XP LKU YRQ ,KQHQ]XHU]lKOHQ8QGK|UHQ6LHPHLQ/LHEHULFKJODXEHGD *RWW 6LH VSH]LHOO PHLQHWZHJHQ DXV GHU 6FKZHL] QDFK 3HWHUVEXUJ JHIKUW KDW 9LHOOHLFKW KDEHQ 6LH KLHU DXFK QRFK DQGHUHV ]X WXQ DEHU KDXSWVlFKOLFK VLQG 6LH PHLQHWZHJHQ KHUJHNRPPHQ *RWW KDW HV PLW $EVLFKW VR HLQJHULFKWHW $XI :LHGHUVHKHQ OLHEH .LQGHU /LHEH $OH[DQGUD NRPP GX PLW PLU© 'LH*HQHUDOLQJLQJKLQDXV*DQMDJDQ]YHUVW|UWIDVVXQJVORV ZWHQGQDKPGDV%LOGYRP7LVFKXQGZDQGWHVLFKPLWHLQHP VFKLHIHQ /lFKHOQ ]XP )UVWHQ ª)UVW LFK JHKH MHW]W JOHLFK QDFK+DXVH:HQQ6LH,KUH$EVLFKWEHLXQV]XZRKQHQQLFKW DXIJHJHEHQ KDEHQ VR ZHUGH LFK 6LH KLQIKUHQ VRQVW NHQQHQ 6LH MD QLFKW HLQPDO 6WUDH XQG +DXV© ª:DUWHQ 6LH )UVW© VDJWH $JODMD GLH VLFK SO|W]OLFK YRQ LKUHP 6WXKO HUKRE ª6LH VROOHQ PLU QRFK HWZDV LQ PHLQ $OEXP VFKUHLEHQ 3DSD KDW JHVDJW 6LH VHLHQ HLQ .DOOLJUDSK ,FK ZHUGH HV ,KQHQ JOHLFK EULQJHQ© 6LHYHUOLH GDV =LPPHU ª$XI :LHGHUVHKHQ )UVW LFK JHKH DXFK ZHJ© VDJWH $GHODLGD 6LH GUFNWH GHP )UVWHQ IHVW GLH +DQGOlFKHOWHLKPIUHXQGOLFKXQGKHU]OLFK]XXQGJLQJKLQDXV 'HQ GDEHLVWHKHQGHQ *DQMD VDK VLH JDU QLFKW DQ ª'DV LVW ,KU :HUN© ULHI ]lKQHNQLUVFKHQG *DQMD GHU VRZLH DOOH KLQDXVJHJDQJHQZDUHQDXIGHQ)UVWHQORVVWU]WHª6LHKDEHQ
LKQHQDXVJHSODXGHUWGDLFKKHLUDWHQZLOO©PXUPHOWHHUKDVWLJ LP )OVWHUWRQ PLW ZWHQGHP *HVLFKW XQG ]RUQLJ IXQNHOQGHQ $XJHQ ª6LHVLQG HLQ VFKDPORVHU 6FKZlW]HU© ª,FK YHUVLFKHUH ,KQHQ GD 6LH VLFK LUUHQ© DQWZRUWHWH GHU )UVW UXKLJ XQG K|IOLFKª,FKKDEHJDUQLFKWJHZXWGD6LHKHLUDWHQZROOHQ© ª6LHKDEHQYRUKLQJHK|UWZLH,ZDQ)MRGRURZLWVFKVDJWHKHXWH DEHQG ZHUGH VLFK DOOHV EHL 1DVWDVMD )LOLSSRZQD HQWVFKHLGHQ XQGGDVKDEHQ6LH ZHLWHUHU]lKOW 6LH OJHQ :RKHU KlWWHQ GLH 'DPHQ HV VRQVW ZLVVHQ N|QQHQ" :HU ]XP 7HXIHO NRQQWH HV LKQHQ PLWWHLOHQ DXHU ,KQHQ" +DW PLU GLH $OWH HWZD QLFKW ]X YHUVWHKHQ JHJHEHQ GD VLH GDYRQ ZHL"© ª6LH PVVHQ DP EHVWHQZLVVHQZHUHVGHQ'DPHQPLWJHWHLOWKDWZHQQ6LHGHU $QVLFKWVLQGGDPDQ,KQHQGHVJOHLFKHQ]XYHUVWHKHQJHJHEHQ KDW LFK KDEH NHLQ :RUW GDYRQ JHVDJW© ª+DEHQ 6LH PHLQ %LOOHWW EHUJHEHQ" ,VW HLQH $QWZRUW GD"© XQWHUEUDFK LKQ *DQMD YRU 8QJHGXOG JOKHQG $EHU JHUDGH LQ GLHVHP $XJHQEOLFNNDP$JODMD]XUFNXQGGHU)UVWKDWWHQLFKWPHKU =HLW ]X DQWZRUWHQ ª+LHU )UVW© VDJWH $JODMD LQGHP VLH LKU $OEXP DXI HLQ 7LVFKFKHQ OHJWH ª6XFKHQ 6LH VLFK HLQH 6HLWH DXV XQG VFKUHLEHQ 6LH PLU HWZDV KLQHLQ +LHU LVW HLQH )HGHU QRFK GD]X HLQH JDQ] QHXH (V PDFKW GRFK QLFKWV DXI GD HV HLQH 6WDKOIHGHU LVW" ,FK KDEH PLU VDJHQ ODVVHQ GLH .DOOLJUDSKHQVFKULHEHQQLFKWPLW6WDKOIHGHUQ© :lKUHQGVLHPLWGHP)UVWHQVSUDFKVFKLHQVLHJDUQLFKW]X EHPHUNHQGD*DQMDHEHQIDOOVGDZDU$EHUZlKUHQGQXQGHU )UVW GLH )HGHU LQ 2UGQXQJ EUDFKWH HLQH 6HLWH DXVVXFKWH XQG VLFK ]XP 6FKUHLEHQ IHUWLJPDFKWH WUDW *DQMD DQ GHQ .DPLQ KHUDQZR$JODMDXQPLWWHOEDUUHFKWVQHEHQGHP)UVWHQVWDQG XQG VDJWH ]X LKU PLW ]LWWHUQGHU VWRFNHQGHU 6WLPPH DXV QlFKVWHU1lKHª(LQHLQ]LJHV:RUWQXUHLQHLQ]LJHV:RUWYRQ ,KQHQ±XQGLFKELQJHUHWWHW© 'HU )UVW ZDQGWH VLFK UDVFK XP XQG VDK VLH EHLGH DQ $XI *DQMDV *HVLFKW ODJ GHU $XVGUXFN HFKWHU 9HU]ZHLIOXQJ HU VFKLHQ GLHVH :RUWH RKQH MHGH hEHUOHJXQJ +HUYRUJHVWRHQ ]X
KDEHQ $JODMD EOLFNWH LKQ HLQ SDDU 6HNXQGHQ ODQJ PLW JDQ] GHPVHOEHQ UXKLJHQ (UVWDXQHQ DQ ZLH HLQH :HLOH YRUKHU GHQ )UVWHQ XQG HV VFKLHQ GD GLHVHV UXKLJH (UVWDXQHQ GLHVH 9HUZXQGHUXQJ GLHVH RIIHQNXQGLJH Y|OOLJH 9HUVWlQGQLVORVLJNHLW IU GDV ZDV LKU JHVDJW ZDU LQ GLHVHP $XJHQEOLFN IU *DQMD VFKUHFNOLFKHU ZDU DOV HV GLH VWlUNVWH 9HUDFKWXQJKlWWHVHLQN|QQHQª:DVVROOLFKGHQQVFKUHLEHQ"© IUDJWH GHU )UVW ª,FK ZHUGH HV ,KQHQ JOHLFK GLNWLHUHQ© HUZLGHUWH$JODMDVLFK]XLKPZHQGHQGª6LQG6LHEHUHLW"1XQ GDQQVFKUHLEHQ6LH¾,FKODVVHPLFKQLFKWDXI+DQGHOVJHVFKlIWH HLQ½6HW]HQ6LHMHW]WGDV'DWXPGDUXQWHU=HLJHQ6LHKHU© 'HU)UVWUHLFKWHLKUGDV$OEXPKLQª9RU]JOLFK6LHKDEHQ HV HUVWDXQOLFK VFK|Q JHVFKULHEHQ ,KUH +DQGVFKULIW LVW JDQ] ZXQGHUYROO ,FK GDQNH ,KQHQ $XI :LHGHUVHKHQ )UVW :DUWHQ6LH©IJWHVLHKLQ]XDOVRELKUSO|W]OLFKHWZDVHLQILHOH ªNRPPHQ 6LH PLW LFK ZLOO ,KQHQ HWZDV ]XP $QGHQNHQ VFKHQNHQ© 'HU )UVW IROJWH LKU DOV VLH MHGRFK LQV (]LPPHU NDPHQ EOLHE$JODMDVWHKHQª/HVHQ6LHGDVGD©VDJWHVLHLKP*DQMDV %LOOHWWUHLFKHQG'HU)UVWQDKPGDV%LOOHWWXQGEOLFNWH$JODMD HUVWDXQW DQ ª,FK ZHL MD GD 6LH HV QLFKW JHOHVHQ KDEHQ XQG QLFKW GHU 9HUWUDXWH GLHVHV 0HQVFKHQ VHLQ N|QQHQ /HVHQ 6LH HVLVWPHLQ:XQVFKGD6LHHVOHVHQ© 'DV %LOOHWW ZDU DXJHQVFKHLQOLFK LQ JURHU (LOH JHVFKULHEHQ ª+HXWH ZLUG PHLQ 6FKLFNVDO HQWVFKLHGHQ 6LH ZLVVHQ LQ ZHOFKHU :HLVH +HXWH ZHUGH LFK XQZLGHUUXIOLFK PHLQ :RUW JHEHQ PVVHQ ,FK KDEH NHLQHUOHL 5HFKW DXI ,KUH 7HLOQDKPH XQGZDJHQLFKWLUJHQGZHOFKH+RIIQXQJHQ]XKHJHQDEHU 6LH KDEHQIUKHUHLQPDOHLQ:RUWDXVJHVSURFKHQQXUHLQHLQ]LJHV :RUW XQG GLHVHV :RUW KDW GLH JDQ]H GXQNOH 1DFKW PHLQHV /HEHQV HUKHOOW XQG LVW IU PLFK HLQ /HXFKW]HLFKHQ JHZRUGHQ 6DJHQ6LHMHW]WQRFKHLQVROFKHV:RUW±XQG6LHZHUGHQPLFK GDPLW YRP 8QWHUJDQJ HUUHWWHQ 6DJHQ 6LH QXU ]X PLU ¾%ULFK DOOH %H]LHKXQJHQ DE½ XQG LFK WXH HV QRFK KHXWH 2K ZDV
NRVWHW HV 6LH GLHVHV HLQH :RUW ]X VDJHQ ,FK HUELWWH GLHVHV :RUW QXU DOV =HLFKHQ ,KUHU 7HLOQDKPH XQG ,KUHV 0LWOHLGV PLW PLU ± QXU LQ GLHVHP 6LQQH :HLWHU VROO HV QLFKWV VHLQ QLFKWV ,FK ZDJH QLFKW LUJHQGZHOFKH +RIIQXQJ ]X KHJHQ ZHLO LFK VROFKHU+RIIQXQJQLFKWZUGLJELQ$EHUZHQQ6LHGLHVHV:RUW JHVSURFKHQ KDEHQ ZHUGH LFK YRQ QHXHP PHLQH $UPXW DXI PLFK QHKPHQ XQG PHLQH YHU]ZHLIHOWH /DJH PLW )UHXGHQ HUWUDJHQ ,FK ZHUGH LQ GHQ .DPSI HLQWUHWHQ LFK ZHUGH PLFK VHLQHUIUHXHQXQGLQLKPQHXH.UDIWJHZLQQHQ6HQGHQ6LHPLU GLHVHV :RUW GHU 7HLOQDKPH QXU GHU 7HLOQDKPH GDV VFKZ|UH LFK ,KQHQ =UQHQ 6LH QLFKW EHU GLH .KQKHLW HLQHV 9HU]ZHLIHOQGHQ(UWULQNHQGHQGHU HLQHOHW]WH $QVWUHQJXQJ ]X PDFKHQJHZDJWKDWXPVLFKYRUGHP8QWHUJDQJH]XUHWWHQ* -© ª'LHVHU 0HQVFK YHUVLFKHUW© VDJWH $JODMD VFKDUI DOV GHU )UVW]X(QGH JHOHVHQKDWWH ªGDGDV:RUW¾%UHFKHQ 6LH DOOH %H]LHKXQJHQ DE© PLFK QLFKW NRPSURPLWWLHUHQ XQG ]X QLFKWV YHUSIOLFKWHQ VROOH XQG HU JLEW PLU ZLH 6LH VHKHQ KLHULQ LQ GLHVHP %LOOHWW HLQH VFKULIWOLFKH *DUDQWLH GDIU %HDFKWHQ 6LH ZLHQDLYHUHLQLJH:RUWHXQWHUVWULFKHQKDWXQGLQZLHSOXPSHU :HLVHVHLQHJHKHLPH$EVLFKWKHUYRUVFKDXW(UZHLEULJHQV GD ZHQQ HU DOOH %H]LHKXQJHQ DEEUlFKH DEHU YRQ VHOEVW DOOHLQRKQHDXIHLQ:RUWYRQPLU]XZDUWHQXQGRKQHPLWPLU DXFK QXU GDYRQ ]X UHGHQ XQG RKQH MHGH +RIIQXQJ DXI PHLQH +DQG GD LFK GDQQ PHLQH *HIKOH JHJHQ LKQ DQGHUQ XQG YLHOOHLFKW VHLQH )UHXQGLQ ZHUGHQ ZUGH 'DV ZHL HU JHQDX $EHUHUKDWHLQHQLHGULJH*HVLQQXQJHUZHLHVXQGNDQQVLFK GRFK QLFKW HQWVFKOLHHQ HU ZHL HV XQG YHUODQJW GRFK *DUDQWLHQ (U LVW QLFKW LPVWDQGH DXI 7UHX XQG *ODXEHQ HLQHQ (QWVFKOX]XIDVVHQ(UP|FKWHGDLFKLKPDOV(UVDW]IUGLH KXQGHUWWDXVHQG 5XEHO GLH +RIIQXQJ DXI PHLQH +DQG JHEH :DV DEHU MHQHV IUKHUH :RUW DQODQJW YRQ GHP HU LQ VHLQHP %LOOHWWVSULFKWXQGGDVDQJHEOLFKVHLQ/HEHQHUKHOOWKDWVROJW HU IUHFK ,FK KDEH LKP HLQIDFK HLQPDO PHLQH 7HLOQDKPH DXVJHVSURFKHQ $EHU HU LVW GUHLVW XQG XQYHUVFKlPW LKP LVW
GDPDOVVRJOHLFKGHU*HGDQNHGXUFKGHQ.RSIJHJDQJHQGDVHL IU LKQ HLQH +RIIQXQJ P|JOLFK LFK KDEH GDV VRIRUW EHPHUNW 6HLWGHPKDWHUDQJHIDQJHQDXIPLFK -DJG ]X PDFKHQ XQG VR VXFKWHUPLFKDXFKMHW]W]XIDQJHQ$EHUJHQXJGDYRQQHKPHQ 6LH GLHVHV %LOOHWW XQG JHEHQ 6LH HV LKP ]XUFN XQPLWWHOEDU QDFKGHP 6LH XQVHU +DXV ZHUGHQ YHUODVVHQ KDEHQ VHOEVWYHUVWlQGOLFKQLFKWIUKHU©ª8QGZHOFKH$QWZRUWVROOLFK LKP DXVULFKWHQ"© ª1DWUOLFK JDU NHLQH 'DV LVW GLH EHVWH $QWZRUW 6LH ZROOHQ DOVR LQ VHLQHP +DXVH ZRKQHQ"© ª,ZDQ )MRGRURZLWVFKKDWHVPLUYRUKLQVHOEVWHPSIRKOHQ©DQWZRUWHWH GHU)UVW ª'DQQ QHKPHQ 6LH VLFK YRU LKP LQ DFKW LFK ZDUQH 6LH HU ZLUG HV ,KQHQ MHW]W QLFKW YHU]HLKHQ GD 6LH LKP VHLQ %LOOHWW]XUFNEULQJHQ© $JODMDGUFNWHGHP)UVWHQOHLFKWGLH+DQGXQGJLQJKLQDXV ,KU*HVLFKWZDUHUQVWXQGILQVWHUXQGVLHOlFKHOWHQLFKWHLQPDO DOV VLH GHP )UVWHQ ]XP $EVFKLHG ]XQLFNWH ª,FK ELQ JOHLFK IHUWLJ LFK ZLOO QXU PHLQ %QGHO KROHQ© VDJWH GHU )UVW ]X *DQMD ª'DQQ N|QQHQ ZLU JHKHQ© *DQMD VWDPSIWH YRU 8QJHGXOG PLW GHP )X 6HLQ *HVLFKW ZXUGH JDQ] GXQNHO YRU :XW(QGOLFKWUDWHQEHLGHDXIGLH6WUDHGHU)UVWPLWVHLQHP %QGHO LQ GHU +DQG ª8QG GLH $QWZRUW" 'LH $QWZRUW"© EHVWUPWHLKQ*DQMDª:DVKDWVLH,KQHQJHVDJW"+DEHQ6LHLKU PHLQHQ%ULHIEHUJHEHQ"© 'HU )UVW UHLFKWH LKP VFKZHLJHQG VHLQ %LOOHWW KLQ *DQMD HUVWDUUWHª:LH"0HLQ%LOOHWW©ULHIHUª(UKDWHVLKUJDUQLFKW HLQPDO EHUJHEHQ 2K GDV KlWWH LFK PLU LP YRUDXV VDJHQ PVVHQ2GLHVHUYHUUGDPPWH1XQLVWHVHUNOlUOLFKGDVLH YRUKLQQLFKWVYHUVWDQG$EHUZLHNRPPWGHQQGDVGD6LHHV LKU QLFKW EHUJHEHQ KDEHQ 6LH YHUUGDPPWHU © ª(QWVFKXOGLJHQ 6LH HV JHODQJ PLU LP *HJHQWHLO VRJOHLFK ,KU %LOOHWW ]X EHUJHEHQ XQPLWWHOEDU QDFKGHP 6LH HV PLU HLQJHKlQGLJW KDWWHQ XQG JHQDX LQ GHU $UW ZLH 6LH HV ZQVFKWHQ ,KU %LOOHWW EHILQGHW VLFK MHW]W GHVKDOE ZLHGHU LQ PHLQHQ +lQGHQ ZHLO $JODMD ,ZDQRZQD HV PLU VRHEHQ ZLHGHU
]XUFNJHJHEHQ KDW© ª:DQQ" :DQQ"© ª$OV LFK PLW GHU (LQWUDJXQJLQGDV$OEXPIHUWLJZDUXQG VLH PLFK DXIIRUGHUWH PLW LKU KLQDXV]XNRPPHQ 6LH KDEHQ HV ZRKO JHK|UW" :LU JLQJHQ LQ GDV (]LPPHU GRUW JDE VLH PLU GDV %LOOHWW XQG EHIDKO PLU HV GXUFK]XOHVHQ XQG ,KQHQ ]XUFN]XJHEHQ© ª'XUFK]XOHVHQ© VFKULH *DQMD ª'XUFK]XOHVHQ 8QG 6LH KDEHQHVJHOHVHQ"© (U EOLHE YRQ QHXHP ZLH HUVWDUUW PLWWHQ DXI GHP *HKVWHLJ VWHKHQ XQG ZDU GHUPDHQ HUVWDXQW GD HU VRJDU GHQ 0XQG DXIUL ª-D LFK KDEH HV JHOHVHQ MHW]W HEHQ© ª8QG VLH VHOEVW VLHVHOEVWKDWHV ,KQHQ ]XP 'XUFKOHVHQ JHJHEHQ" 6LH VHOEVW"© ª-D VLH VHOEVW 6LH N|QQHQ PLU JODXEHQ GD LFK HV RKQH LKUH $XIIRUGHUXQJQLFKWJHOHVHQKlWWH© *DQMD VFKZLHJ HLQH 0LQXWH XQG EHUOHJWH HWZDV PLW TXDOYROOHU $QVWUHQJXQJ DEHU SO|W]OLFK ULHI HU ª(V LVW XQP|JOLFK6LHNRQQWH6LHQLFKWDXIIRUGHUQGHQ%ULHI]XOHVHQ 6LHOJHQ6LHKDEHQLKQRKQH(UODXEQLVGXUFKJHOHVHQ© ª,FK VDJH GLH :DKUKHLW© DQWZRUWHWH GHU )UVW LQ GHP IUKHUHQY|OOLJUXKLJHQ7RQ ªXQGVHLHQ6LHEHU]HXJWHVWXW PLU VHKU OHLG GD GLHV DXI 6LH HLQHQ VR XQDQJHQHKPHQ (LQGUXFN PDFKW© ª$EHU 6LH 8QVHOLJHU VLH KDW ,KQHQ GRFK ZHQLJVWHQV HWZDV GDEHL JHVDJW HWZDV JHDQWZRUWHW"© ª-D JHZL© ª6R VSUHFKHQ 6LH GRFK VSUHFKHQ 6LH GRFK ]XP 7HXIHO© *DQMD VWDPSIWH PLW GHP LQ HLQHP hEHUVFKXK VWHFNHQGHQ UHFKWHQ )X ]ZHLPDO DXI GDV 3IODVWHU ª$OV LFK GHQ %ULHI GXUFKJHOHVHQ KDWWH VDJWH VLH PLU 6LH VXFKWHQ VLH ]X IDQJHQ 6LH ZQVFKWHQ VLH ]X NRPSURPLWWLHUHQ XP DXI LKUH +DQG KRIIHQ]XN|QQHQGDPLW6LHGDQQDXIGLHVH+RIIQXQJJHVWW]W HLQH DQGHUH +RIIQXQJ DXI KXQGHUWWDXVHQG 5XEHO RKQH 9HUOXVW IDKUHQ ODVVHQ N|QQWHQ :HQQ 6LH GDV WlWHQ RKQH PLW LKU HLQH $UW YRQ +DQGHOVJHVFKlIW ]X PDFKHQ XQG DOOH MHQH %H]LHKXQJHQDXIHLJHQH)DXVWDEEUlFKHQRKQHYRQLKUYRUKHU HLQH *DUDQWLH ]X YHUODQJHQ GDQQ ZUGH VLH YLHOOHLFKW ,KUH
)UHXQGLQ ZHUGHQ 'DV LVW DOOHV JODXEH LFK -D QRFK HLQV DOV LFK GHQ %ULHI EHUHLWV ]XUFNHUKDOWHQ KDWWH XQG IUDJWH ZDV IU HLQH $QWZRUW LFK EHVWHOOHQ VROOH GD VDJWH VLH NHLQH $QWZRUW ZHUGH GLH EHVWH $QWZRUW VHLQ ,FK PHLQH VR ZDU HV HQWVFKXOGLJHQ 6LH ZHQQ LFK GHQ JHQDXHQ :RUWODXW YHUJHVVHQ KDEH LFK KDEH HV ,KQHQ VR PLWJHWHLOW ZLH LFK HV VHOEVW YHUVWDQGHQKDEH© (LQ JUHQ]HQORVHU =RUQ EHPlFKWLJWH VLFK *DQMDV XQG VHLQH :XWNDPKHPPXQJVORV]XP$XVEUXFKª$K6RVWHKWHV©ULHI HU ]lKQHNQLUVFKHQG ª$OVR PHLQH %ULHIH ZHUGHQ DXV GHP )HQVWHU JHZRUIHQ $K $XI +DQGHOVJHVFKlIWH ZLOO VLH VLFK QLFKWHLQODVVHQ±QXQVRZHUGHLFKHVWXQ:LUZROOHQHLQPDO VHKHQ ,FK KDEH QRFK YLHOH +LOIVPLWWHO ZLU ZROOHQ HLQPDO VHKHQ,FKZLOOVLHVFKRQNOHLQNULHJHQ© 6HLQ *HVLFKW YHU]HUUWH VLFK HU ZXUGH JDQ] EOD VHLQ 0XQG VFKlXPWH HU GURKWH PLW GHU )DXVW 6R JLQJHQ VLH HLQLJH 6FKULWWH 9RU GHP )UVWHQ OHJWH HU VLFK QLFKW GHQ JHULQJVWHQ =ZDQJDXIHUEHQDKPVLFKDOVZlUHHULQVHLQHP=LPPHUXQG JDQ] DOOHLQ ZHLO HU GHQ )UVWHQ JHUDGH]X DOV HLQH 1XOO EHWUDFKWHWH$EHUDXIHLQPDOILHOLKPHWZDVHLQXQGHUNDP]XU %HVLQQXQJ ª$EHU ZLH NRPPW HV© ZDQGWH HU VLFK SO|W]OLFK DQ GHQ )UVWHQ ªZLH NRPPW HV GD 6LH© ¾,GLRW½ IJWH HU LP VWLOOHQ KLQ]X ªDXIHLQPDOHLQHVROFKH9HUWUDXHQVVWHOOXQJHLQQHKPHQ ]ZHL 6WXQGHQ QDFK GHU HUVWHQ %HNDQQWVFKDIW" :LH NRPPW GDV"© =XDOOVHLQHQ4XDOHQKDWWHQXUQRFKGHU1HLGJHIHKOWGHUQXQ DXIHLQPDOVHLQ+HU]VFKPHU]KDIWSDFNWHª'DVZHLLFK,KQHQ DOOHUGLQJVQLFKW]XHUNOlUHQ©DQWZRUWHWHGHU)UVW *DQMD ZDUI LKP HLQHQ JULPPLJHQ %OLFN ]X ª'D KDW VLH 6LH ZRKO LQV (]LPPHU JHUXIHQ XP ,KQHQ LKU 9HUWUDXHQ ]X VFKHQNHQ"'HQQGDVLH,KQHQHWZDVVFKHQNHQZROOWHKDWWHVLH MD YRUKHU JHVDJW© ª,FK NDQQ HV QLFKW DQGHUV DXIIDVVHQ DOV LQ
GLHVHU :HLVH© ª$EHU ]XP 7HXIHO ZRGXUFK KDEHQ 6LH GHQQ GDV YHUGLHQW" :DV KDEHQ 6LH GHQQ VR 'DQNHQVZHUWHV GRUW JHWDQ" :RGXUFK KDEHQ 6LH VR JHIDOOHQ" +|UHQ 6LH HLQPDO© VDJWH HU KDVWLJ LQ VHLQHP *HLVWH ZDU LQ GLHVHP $XJHQEOLFN DOOHV JOHLFKVDP EXQW GXUFKHLQDQGHUJHZUIHOW XQG EHIDQG VLFK LQ lUJVWHU 8QRUGQXQJ VR GD HU PLW VHLQHQ *HGDQNHQ QLFKW ]XUHFKWNRPPHQ NRQQWH ªK|UHQ 6LH HLQPDO N|QQHQ 6LH VLFK QLFKW ZHQLJVWHQV HLQLJHUPDHQ HULQQHUQ XQG GHU 5HLKH QDFK HU]lKOHQ ZRYRQ 6LH GRUW HLJHQWOLFK JHVSURFKHQ KDEHQ DOOH ,KUH :RUWH YRQ $QIDQJ DQ" +DEHQ 6LH LUJHQG HWZDV (LJHQDUWLJHV JHlXHUW EHVLQQHQ 6LH VLFK QLFKW"© ª2 MD VHKU ZRKO© DQWZRUWHWH GHU )UVW ª*OHLFK ]X $QIDQJ DOV LFK KHUHLQJHNRPPHQXQGPLWGHQ 'DPHQ EHNDQQW JHZRUGHQ ZDU VSUDFKHQ ZLU EHU GLH 6FKZHL]© ª$FK KRO GLH 6FKZHL] GHU 7HXIHO© ª'DQQ EHU GLH 7RGHVVWUDIH© ªhEHU GLH 7RGHVVWUDIH"© ª-D GDV *HVSUlFK IKUWH XQV GDUDXI 'DQQ HU]lKOWHLFKLKQHQZLHLFKGRUWYLHU-DKUHJHOHEWKDEHXQGHLQH *HVFKLFKWH YRQ HLQHP DUPHQ %DXHUQPlGFKHQ © ª$FK ]XP 7HXIHO PLW GHP DUPHQ %DXHUQPlGFKHQ :HLWHU© GUlQJWH *DQMD XQJHGXOGLJ ª'DQQ ZLH 6FKQHLGHU PLU VHLQH $QVLFKW EHU PHLQHQ &KDUDNWHU DXVVSUDFK XQG PLFK Q|WLJWH © ª+RO ,KUHQ 6FKQHLGHU GHU +HQNHU ZDV VFKHUHQ PLFK VHLQH $QVLFKWHQ:HLWHU© ª'DQQILQJLFKEHLLUJHQGHLQHP$QODDQYRQ*HVLFKWHUQ]X VSUHFKHQ GDV KHLW YRQ GHP $XVGUXFN GHU *HVLFKWHU XQG VDJWH $JODMD ,ZDQRZQD VHL IDVW HEHQVR VFK|Q ZLH 1DVWDVMD )LOLSSRZQD 8QG GD NDP LFK GHQQ DXFK DXI GDV %LOG ]X VSUHFKHQ©ª$EHU6LHKDEHQQLFKWVPLWJHWHLOW6LHKDEHQGRFK QLFKWV YRQ GHP PLWJHWHLOW ZDV 6LH YRUKHU LP $UEHLWV]LPPHU JHK|UWKDWWHQ"1HLQ"1HLQ"©ª,FKZLHGHUKROH,KQHQGDLFKHV QLFKW JHWDQ KDEH© ª$EHU ZRKHU GDQQ ]XP 7HXIHO +D +DW $JODMD GHQ %ULHI HWZD GHU $OWHQ JH]HLJW"© ª:DV GDV EHWULIIW NDQQ LFK ,KQHQ EHVWLPPW JDUDQWLHUHQ GD VLH HV QLFKW JHWDQ KDW,FKZDUGLHJDQ]H=HLWGDEHLVLHKDWWHDXFKJDUNHLQH=HLW
GD]X©ª$EHUYLHOOHLFKWKDEHQ6LHVHOEVWHWZDVQLFKWEHPHUNW 2K GLHVHU YHUUGDPPWH ,GLRW© VFKULH HU DXI HLQPDO JDQ] DXHUVLFKªHUNDQQQLFKWHLQPDOHWZDVHU]lKOHQ© *DQMDGHUQXQHLQPDOLQV6FKLPSIHQKLQHLQJHUDWHQZDUXQG NHLQHQ :LGHUVWDQG IDQG YHUORU DOOPlKOLFK DOOH 6HOEVWEHKHUUVFKXQJZLHGDVEHLPDQFKHQ0HQVFKHQLPPHULVW (V IHKOWH QLFKW YLHO XQG HU KlWWH YLHOOHLFKW ]X VSXFNHQ EHJRQQHQVRZWHQGZDUHU$EHUHEHQLQIROJHGLHVHU:XWZDU HUDXFKZLHEOLQGVRQVWKlWWHHUOlQJVWEHPHUNHQPVVHQGD GLHVHUª,GLRW©GHQHUVRYHUlFKWOLFKEHKDQGHOWHPDQFKH'LQJH VHKUVFKQHOOXQG JHQDXGXUFKVFKDXWHXQG DXHURUGHQWOLFK NODU GDU]XVWHOOHQ ZXWH 'RFK DXI HLQPDO JHVFKDK HWZDV 8QHUZDUWHWHV ª,FK PX ,KQHQ EHPHUNHQ *DZULOD $UGDOLRQRZLWVFK© VDJWH GHU )UVW SO|W]OLFK ªGD LFK ]ZDU IUKHU LQ GHU 7DW VR NUDQN ZDU GD LFK ZLUNOLFK IDVW HLQHP ,GLRWHQJOLFKDEHUMHW]WELQLFKVFKRQOlQJVWZLHGHUKHUJHVWHOOW XQG GDKHU LVW HV PLU HLQLJHUPDHQ XQDQJHQHKP ZHQQ PDQ PLFK PLU LQV *HVLFKW HLQHQ ,GLRWHQ QHQQW $OOHUGLQJV NDQQ PDQ ,KUH 0LHUIROJH DOV (QWVFKXOGLJXQJ IU 6LH JHOWHQG PDFKHQ DEHU 6LH KDEHQ PLFK LQ ,KUHP bUJHU VFKRQ ]ZHLPDO PLW 6FKLPSIQDPHQ EHOHJW 'DV PLIlOOW PLU VHKU QDPHQWOLFK DXFK GD 6LH HV VR RKQH ZHLWHUHV JOHLFK EHLP %HJLQQ XQVHUHU %HNDQQWVFKDIW WXQ XQG GD ZLU XQV MHW]W JHUDGH DQ HLQHU 6WUDHQNUHX]XQJEHILQGHQVRLVWHVZRKOGDVEHVWHZHQQZLU XQV WUHQQHQ JHKHQ 6LH UHFKWV QDFK ,KUHU :RKQXQJ XQG LFK ZHUGH OLQNV JHKHQ ,FK ELQ LP %HVLW] YRQ IQIXQG]ZDQ]LJ 5XEHOXQGZHUGHZRKOLUJHQGHLQKRWHOJDUQL ILQGHQ© *DQMDZXUGHK|FKVWYHUOHJHQXQGHUU|WHWHVRJDUYRU6FKDP ª9HU]HLKHQ 6LH )UVW© ULHI HU HLIULJ LQGHP HU VHLQHQ VFKHOWHQGHQ 7RQ VFKQHOO PLW HLQHP lXHUVW K|IOLFKHQ YHUWDXVFKWH ª,FK ELWWH 6LH LQVWlQGLJ YHU]HLKHQ 6LH PLU 6LH VHKHQ LQ ZHOFKHU HQWVHW]OLFKHQ /DJH LFK PLFK EHILQGH 6LH
IU] P|EOLHUWHV=LPPHU
ZLVVHQ QRFK IDVW QLFKWV GDUEHU DEHU ZHQQ 6LH DOOHV ZWHQ ZUGHQ 6LH PLFK JHZL ZHQLJVWHQV HLQLJHUPDHQ HQWVFKXOGLJHQ REZRKO VHOEVWYHUVWlQGOLFK PHLQ 9HUKDOWHQ XQHQWVFKXOGEDULVW©ª2KLFKEHDQVSUXFKHJDUQLFKWVRODQJH (QWVFKXOGLJXQJHQ© EHHLOWH VLFK GHU )UVW ]X HUZLGHUQ ª,FK EHJUHLIH MD GD ,KUH /DJH VHKU XQDQJHQHKP LVW XQG 6LH GHVZHJHQ VFKLPSIHQ 1XQ GDQQ ZROOHQ ZLU QDFK ,KUHU :RKQXQJJHKHQ,FKWXHHVPLW9HUJQJHQ© ¾1HLQ VR GDUI LFK LKQ MHW]W QLFKW GDYRQODVVHQ½ VDJWH VLFK *DQMDLPVWLOOHQZlKUHQGHUXQWHUZHJVGHP)UVWHQJULPPLJH %OLFNH ]XZDUI ¾'LHVHU VFKODXH 3DWURQ KDW PLU DOOH PHLQH *HKHLPQLVVH HQWORFNW XQG QXQ DXI HLQPDO GLH 0DVNH DEJHZRUIHQ 'DV KDW HWZDV ]X EHGHXWHQ 1XQ ZLU ZROOHQ VHKHQ(VZLUGVLFKDOOHVHQWVFKHLGHQDOOHVDOOHV1RFKKHXWH½ 6LHVWDQGHQVFKRQJHUDGHYRUGHP+DXVH
9,,, *DQMDV:RKQXQJEHIDQGVLFKLPGULWWHQ6WRFN]XGHPPDQ DXIHLQHUVHKUVDXEHUHQKHOOHQEUHLWHQ7UHSSHKLQDXIVWLHJXQG EHVWDQGDXVVHFKVRGHUVLHEHQ =LPPHUQXQG =LPPHUFKHQGLH ]ZDU QXU JDQ] JHZ|KQOLFKHU $UW ZDUHQ DEHU GRFK MHGHQIDOOV QLFKW UHFKW LP (LQNODQJ VWDQGHQ PLW GHP 3RUWHPRQQDLH HLQHV %HDPWHQ GHU )DPLOLH KDWWH DXFK ZHQQ HU ]ZHLWDXVHQG 5XEHO *HKDOWEH]RJ%HLGHU:RKQXQJZDUMHGRFKGLH$XIQDKPHYRQ 8QWHUPLHWHUQ PLW %HN|VWLJXQJ XQG %HGLHQXQJ LQ $XVVLFKW JHQRPPHQXQGVLHZDUYRQ*DQMDXQGVHLQHU)DPLOLHHUVWYRU ]ZHL0RQDWHQJHPLHWHWZRUGHQXQG]ZDU]X*DQMDVHLJHQHP JU|WHQ 0LYHUJQJHQ DXI GLH LQVWlQGLJHQ %LWWHQ VHLQHU 0XWWHU 1LQD $OH[DQGURZQD XQG VHLQHU 6FKZHVWHU :DUZDUD
$UGDOLRQRZQD KLQ GLH GHQ :XQVFK KDWWHQ VLFK LKUHUVHLWV QW]OLFK]XPDFKHQXQGGLH(LQQDKPHQGHU)DPLOLHZHQLJVWHQV XPHLQH.OHLQLJNHLW]XYHUPHKUHQ*DQMDlUJHUWHVLFKGDUEHU XQGQDQQWHGDV+DOWHQYRQ8QWHUPLHWHUQHLQH8QDQVWlQGLJNHLW HU VFKlPWH VLFK GHVVHQ JHZLVVHUPDHQ LQ GHU *HVHOOVFKDIW LQ GHU HU DOV MXQJHU HOHJDQWHU 0DQQ PLW HLQHU EHGHXWHQGHQ =XNXQIW VLFK ]X EHZHJHQ SIOHJWH 'LHVHU 'UXFN GHU 9HUKlOWQLVVH XQG GLHVH JDQ]H ZLGHUZlUWLJH %HHQJWKHLW EHUHLWHWHQ LKP WLHIH VHHOLVFKH 6FKPHU]HQ 6HLW HLQLJHU =HLW UHJWH HU VLFK EHU MHGH .OHLQLJNHLW PDORV DXI YLHO PHKU DOV VLH ZHUW ZDU XQG ZHQQ HU VLFK GD]X YHUVWDQG YRUOlXILJ QRFK QDFK]XJHEHQXQG]XGXOGHQVRWDWHUGLHVQXUGHVKDOEZHLOHU EHUHLWV HQWVFKORVVHQ ZDU GLHV DOOHV LQ QlFKVWHU =HLW XP]XlQGHUQ XQG XP]XJHVWDOWHQ ,QGHVVHQ VWHOOWH LKP JHUDGH GLHVH 8PJHVWDOWXQJ JHUDGH GHU $XVZHJ GHQ HU YRU VLFK VDK HLQHQLFKWOHLFKWH$XIJDEHHLQH$XIJDEHGHUHQEHYRUVWHKHQGH /|VXQJ PKVDPHU XQG TXDOYROOHU ]X ZHUGHQ GURKWH DOV DOOHV 9RUKHUJHJDQJHQH 'LH:RKQXQJZXUGHYRQHLQHP.RUULGRUGXUFKVFKQLWWHQGHU JOHLFK EHLP 9RU]LPPHU EHJDQQ $XI GHU HLQHQ 6HLWH GHV .RUULGRUV EHIDQGHQ VLFK GLH GUHL =LPPHU GLH ]XP 9HUPLHWHQ DQ ªJXW HPSIRKOHQH© 8QWHUPLHWHU EHVWLPPW ZDUHQ DXHUGHP ODJ DXI GHUVHOEHQ 6HLWH GHV .RUULGRUV JDQ] DP (QGH EHL GHU .FKH HLQ YLHUWHV =LPPHUFKHQ HQJHU DOV DOOH EULJHQ LQ ZHOFKHP GDV 2EHUKDXSW GHU )DPLOLH GHU *HQHUDO D ' ,ZROJLQVHOEVW ZRKQWH HU VFKOLHI GRUW DXI HLQHP EUHLWHQ 6RID XQG ZDU YHUSIOLFKWHW ZHQQ HU GLH :RKQXQJ YHUOLH XQG ZLHGHUNDP VHLQHQ :HJ GXUFK GLH .FKH XQG EHU GLH +LQWHUWUHSSH ]X QHKPHQ ,Q GHPVHOEHQ =LPPHUFKHQ ZRKQWH DXFK *DZULOD $UGDOLRQRZLWVFKV IQI]HKQMlKULJHU %UXGHU GHU *\PQDVLDVW.ROMDDXFKHUPXWHVLFKLQGLHVHPHQJHQ5DXP EHKHOIHQ PXWH KLHU VHLQH 6FKXODXIJDEHQ HUOHGLJHQ XQG DXI HLQHP DQGHUQ VHKU DOWHQ VFKPDOHQ NXU]HQ 6RID XQG HLQHP ]HUULVVHQHQ /DNHQ VFKODIHQ YRU DOOHQ 'LQJHQ DEHU PXWH HU
GHQ 9DWHU ZDUWHQ XQG EHDXIVLFKWLJHQ GHQQ GDV ZXUGH EHL GLHVHPYRQ7DJ]X7DJPHKUQRWZHQGLJ 'HP)UVWHQZXUGH GDV PLWWOHUH GHU GUHL =LPPHU DQJHZLHVHQ LQ GHP HUVWHQ =LPPHU UHFKWV GDYRQ ZRKQWH )HUG\VFKWVFKHQNR XQG GDV GULWWH OLQNV VWDQG QRFK OHHU $EHU *DQMD IKUWH GHQ )UVWHQ ]XQlFKVW LQ GLH YRQ GHU )DPLOLH HLQJHQRPPHQH :RKQXQJVKlOIWH 'LHVH +lOIWH EHVWDQG DXV HLQHP :RKQ]LPPHU GDV VLFK VRRIW HV Q|WLJ ZDU LQ HLQ (]LPPHU YHUZDQGHOWH IHUQHU DXV HLQHP 6DORQ GHU MHGRFK QXU YRUPLWWDJV 6DORQ ZDU XQG VLFK DP $EHQG LQ *DQMDV $UEHLWV]LPPHU XQG VHLQ 6FKODI]LPPHU YHUZDQGHOWH XQG HQGOLFK DXV HLQHP GULWWHQ HQJHQ XQG VWHWV JHVFKORVVHQ JHKDOWHQHQ =LPPHU GLHV ZDU 1LQD $OH[DQGURZQDV XQG :DUZDUD$UGDOLRQRZQDV6FKODI]LPPHU0LWHLQHP:RUWDOOHV LQGLHVHU:RKQXQJZDUEHHQJWXQG]XVDPPHQJHGUlQJW*DQMD NQLUVFKWHLPVWLOOHQQXUVRPLWGHQ=lKQHQREJOHLFKHU JHJHQ VHLQH0XWWHUUHVSHNWYROOZDUXQG]XVHLQZQVFKWHVRNRQQWH PDQ GRFK JOHLFK EHLP HUVWHQ %OLFN GHQ PDQ LQ GLHVHV )DPLOLHQOHEHQ WDW EHPHUNHQ GD HU KLHU HLQHQ DUJHQ 'HVSRWLVPXVDXVEWH 1LQD $OH[DQGURZQD EHIDQG VLFK LP 6DORQ QLFKW DOOHLQ EHL LKU VD :DUZDUD $UGDOLRQRZQD EHLGH ZDUHQ PLW 6WULFNHQ EHVFKlIWLJWXQGLP*HVSUlFKPLWHLQHP*DVW,ZDQ3HWURZLWVFK 3WL]\Q1LQD$OH[DQGURZQDPRFKWHHWZDIQI]LJ-DKUHDOWVHLQ VLH KDWWH HLQ PDJHUHV HLQJHIDOOHQHV *HVLFKW XQG GXQNOH VFKZDU]H6WHOOHQXQWHUGHQ$XJHQ,KU$XVVHKHQZDUNUlQNOLFK XQG HWZDV YHUJUlPW DEHU LKUH 0LHQH XQG LKU %OLFN PDFKWHQ GRFK HLQHQ ]LHPOLFK DQJHQHKPHQ (LQGUXFN JOHLFK DXV LKUHQ HUVWHQ :RUWHQ NRQQWH HLQ MHGHU DXI LKUHQ HUQVWHQ HFKW ZUGHYROOHQ &KDUDNWHU VFKOLHHQ 7URW] LKUHV WUDXULJHQ *HVLFKWVDXVGUXFNV PHUNWH PDQ GD HV LKU DQ )HVWLJNHLW XQG (QWVFKORVVHQKHLW QLFKW PDQJHOWH ,KUH .OHLGXQJ ZDU VHKU EHVFKHLGHQ YRQ GXQNOHU )DUEH XQG JDQ] YRQ GHU $UW ZLH VLH DOOH )UDXHQ WUDJHQ DEHU LKU %HQHKPHQ LKUH $XVGUXFNVZHLVH
XQG LKUH JDQ]H +DOWXQJ ]HXJWHQ YRQ HLQHU )UDX GLH VLFK HKHPDOVLQGHUEHVWHQ*HVHOOVFKDIWEHZHJWKDWWH :DUZDUD $UGDOLRQRZQD ZDU HLQ 0lGFKHQ YRQ XQJHIlKU GUHLXQG]ZDQ]LJ -DKUHQ YRQ PLWWOHUHU 6WDWXU ]LHPOLFK PDJHU PLWHLQHP*HVLFKWGDVRKQHEHUPlLJKEVFK]XVHLQGRFK GLHJHKHLPH)lKLJNHLWEHVDDXFKRKQH6FK|QKHLW]XJHIDOOHQ XQG HLQH VWDUNH $Q]LHKXQJVNUDIW DXV]XEHQ 'HU %OLFN LKUHU JUDXHQ $XJHQ NRQQWH ]HLWZHLOLJ UHFKW KHLWHU XQG IUHXQGOLFK VHLQ ZDU DEHU GRFK PHLVW HUQVW XQG QDFKGHQNOLFK PDQFKPDO VRJDU ]X VHKU EHVRQGHUV LQ OHW]WHU =HLW )HVWLJNHLW XQG (QWVFKORVVHQKHLWZDUHQDXFKLQLKUHP*HVLFKWDXVJHSUlJWPDQ KDWWH DEHU GLH (PSILQGXQJ GD GLHVH )HVWLJNHLW EHL LKU PLW QRFK JU|HUHU (QHUJLH XQG 7DWNUDIW JHSDDUW ZDU DOV EHL GHU 0XWWHU:DUZDUD$UGDOLRQRZQDZDUUHFKWDXIEUDXVHQGXQGLKU %UXGHUIUFKWHWHVLFKVRJDUPLWXQWHUYRUGHQ$XVEUFKHQLKUHV KLW]LJHQ7HPSHUDPHQWV'LHVH)XUFKWWHLOWHDXFKGHU*DVWGHU DXJHQEOLFNOLFK EHL GHQ 'DPHQ VD ,ZDQ 3HWURZLWVFK 3WL]\Q 'LHVHU ZDU HLQ QRFK ]LHPOLFK MXQJHU 0DQQ JHJHQ GUHLLJ -DKUH DOW LQ EHVFKHLGHQHU DEHU DQVWlQGLJHU .OHLGXQJ YRQ DQJHQHKPHP DEHU VFKRQ HWZDV ]X HKUEDUHP :HVHQ 6HLQ GXQNHOEORQGHV 'DUOHKHQ OLH HUNHQQHQ GD HU NHLQH GLHQVWOLFKH 6WHOOXQJ HLQQDKP (U ZXWH EHLP *HVSUlFK YHUVWlQGLJ XQG KEVFK ]X UHGHQ YHUKLHOW VLFK DEHU PHLVW VFKZHLJVDP ,P JDQ]HQ JHQRPPHQ PDFKWH HU HLQHQ UHFKW DQJHQHKPHQ (LQGUXFN (U ZDU :DUZDUD $UGDOLRQRZQD JHJHQEHU DXJHQVFKHLQOLFK QLFKW XQHPSILQGOLFK XQG YHUEDUJ VHLQH *HIKOH QLFKW :DUZDUD $UGDOLRQRZQD EHKDQGHOWH LKQ IUHXQGVFKDIWOLFK]|JHUWHDEHUQRFKDXIPDQFKHVHLQHU)UDJHQ ]X DQWZRUWHQ MD VLH OLHEWH VROFKH )UDJHQ QLFKW HLQPDO 3WL]\Q OLH VLFK EULJHQV GDGXUFK LQ NHLQHU :HLVH HQWPXWLJHQ 1LQD $OH[DQGURZQD ZDU JHJHQ LKQ IUHXQGOLFK XQG KDWWH LQ OHW]WHU =HLW VRJDU DQJHIDQJHQ LKP 9HUWUDXHQ ]X VFKHQNHQ (V ZDU EULJHQVEHNDQQWGDHUVLFKVSH]LHOOGDPLWEHVFKlIWLJWH*HOG DXI PHKU RGHU ZHQLJHU VLFKHUH 3IlQGHU ]X KRKHQ 3UR]HQWHQ
DXV]XOHLKHQ0LW*DQMDZDUHUVHKUEHIUHXQGHW *DQMDGHUVHLQH0XWWHUVHKUWURFNHQXQGVHLQH6FKZHVWHUJDU QLFKW EHJUW KDWWH VWHOOWH GHQ )UVWHQ XPVWlQGOLFK DEHU LQ VWRFNHQGHU5HGHYRUXQGIKUWHGDQQVRJOHLFK3WL]\QPLWVLFK DXV GHP =LPPHU 1LQD $OH[DQGURZQD VDJWH GHP )UVWHQ HLQ SDDUIUHXQGOLFKH:RUWHXQGJDELKUHP6RKQH.ROMDGHUGXUFK GLH 7U KHUHLQVFKDXWH GLH :HLVXQJ LKQ LQ GDV PLWWOHUH =LPPHU]XIKUHQ.ROMDZDUHLQ.QDEHPLWHLQHPIU|KOLFKHQ UHFKWQHWWHQ*HVLFKWXQG]XWUDXOLFKHPQDWUOLFKHP%HQHKPHQ ª:R LVW GHQQ ,KU *HSlFN"© IUDJWH HU DOV HU GHQ )UVWHQ LQ GDV =LPPHU IKUWH ª,FK KDEH QXU HLQ %QGHOFKHQ GDV KDEH LFK LP 9RU]LPPHU JHODVVHQ© ª,FK ZHUGH HV ,KQHQ VRIRUW KROHQ8QVHUH JDQ]H'LHQHUVFKDIWEHVWHKW DXV GHU .|FKLQ XQG 0DWUMRQDVRGDDXFKLFKPLWKHOIHQPX:DUMDEHDXIVLFKWLJW DOOHVXQGlUJHUWVLFKYLHOEHUXQV*DQMDVDJW6LHVHLHQKHXWH DXV GHU 6FKZHL] JHNRPPHQ"© ª-D© ª,VW HV LQ GHU 6FKZHL] VFK|Q"© ª-D VHKU VFK|Q© ª6LQG GD %HUJH"© ª-D© ª,FK ZLOO ,KQHQJOHLFK,KUH%QGHOKROHQ© :DUZDUD $UGDOLRQRZQD WUDW LQV =LPPHU ª0DWUMRQD ZLUG ,KQHQ VRIRUW GDV %HWW EH]LHKHQ +DEHQ 6LH HLQHQ .RIIHU"© ª1HLQ QXU HLQ %QGHOFKHQ ,KU %UXGHU LVW HV HEHQ KROHQ JHJDQJHQHVLVWLP9RU]LPPHU©ª(VLVWNHLQ%QGHOGDDXHU GLHVHP NOHLQHQ ZR KDEHQ 6LH HV GHQQ KLQJHOHJW"© IUDJWH .ROMD GHU ZLHGHU LQV =LPPHU ]XUFNNHKUWH ª$XHU GLHVHP KDEHLFKNHLQV©HUZLGHUWHGHU)UVWLQGHPHUVHLQ%QGHOFKHQ LQ (PSIDQJ QDKP ª6R VR 8QG LFK GDFKWH VFKRQ )HUG\VFKWVFKHQNR KlWWH HV YLHOOHLFKW ZHJJHQRPPHQ© ª6FKZDW] NHLQHQ 8QVLQQ© VDJWH :DUZDUD LQ VWUHQJHP 7RQ $EHUGHP)UVWHQJHJHQEHUEHGLHQWHVLHVLFKHLQHUWURFNHQHQ QXU VR HEHQ QRFK K|IOLFKHQ 5HGHZHLVH ª&KHUH %DEHWWH PLW PLU N|QQWHVW GX HWZDV IUHXQGOLFKHU XPJHKHQ LFK ELQ MD QLFKW 3WL]\Q© ª'LFK NDQQ PDQ QRFK GXUFKKDXHQ .ROMD VR GXPP ELVW GX QRFK :HQQ 6LH LUJHQGHLQHQ :XQVFK KDEHQ N|QQHQ 6LHVLFKDQ0DWUMRQDZHQGHQGDV0LWWDJHVVHQ ILQGHWXPKDOE
IQIVWDWW6LHN|QQHQPLWXQV]XVDPPHQVSHLVHQRGHUDXFKDXI ,KUHP =LPPHU ZLH HV ,KQHQ EHOLHEW .RPP PLW .ROMD VW|UH GHQ +HUUQ QLFKW© ª1XQ GDQQ JHKHQ ZLU GX UHVROXWHU &KDUDNWHU© %HLP +LQDXVJHKHQ VWLHHQ VLH PLW *DQMD ]XVDPPHQ ª,VW 9DWHU ]X +DXVH"© IUDJWH *DQMD VHLQHQ %UXGHU XQG DXI .ROMDVEHMDKHQGH$QWZRUWIOVWHUWHHULKPHWZDVLQV2KU.ROMD QLFNWH PLW GHP .RSI XQG JLQJ KLQWHU :DUZDUD $UGDOLRQRZQD KLQDXV ª1XU ]ZHL :RUWH )UVW ,FK KDEH EHU DOO GLHVHQ *HVFKlIWHQ JDQ] YHUJHVVHQ HV ,KQHQ ]X VDJHQ (LQH NOHLQH %LWWH ZHQQ HV ,KQHQ QLFKW ]X JURH $QVWUHQJXQJ NRVWHW VR UHGHQ 6LH ZHGHU KLHU YRQ GHP ZDV HEHQ ]ZLVFKHQ PLU XQG $JODMD YRUJHIDOOHQ LVW QRFK GRUW YRQ GHP ZDV 6LH KLHU YRUILQGHQ ZHUGHQ GHQQ DXFK KLHU JLEW HV JHQXJ :LGHUZlUWLJHV +RO GDV DOOHV GHU 7HXIHO +DOWHQ 6LH ZHQLJVWHQV KHXWH GDPLW ]XUFN© ª,FK YHUVLFKHUH ,KQHQ GD LFK ZHLW ZHQLJHU JHSODXGHUW KDEH DOV 6LH JODXEHQ© YHUVHW]WH GHU)UVWHWZDVJHUHL]WGXUFK*DQMDV9RUZUIH 'LH %H]LHKXQJHQ ]ZLVFKHQ LKQHQ JHVWDOWHWHQ VLFK RIIHQEDU LPPHUVFKOHFKWHUª1DLFKKDEHGXUFK,KUH6FKXOGKHXWHVFKRQ JHQXJ DXV]XVWHKHQ JHKDEW 0LW HLQHP :RUWH LFK ELWWH 6LH GDUXP© ª:ROOHQ 6LH QRFK GLHV EHGHQNHQ *DZULOD $UGDOLRQRZLWVFK ZRGXUFK ZDU LFK GHQQ YRUKLQ YHUSIOLFKWHW YRQ GHP %LOGH ]X VFKZHLJHQ XQG ZDUXP GXUIWH LFK QLFKW GDYRQ UHGHQ" 6LH KDWWHQ PLFK MD QLFKW XP 9HUVFKZLHJHQKHLW HUVXFKW© ª3IXL ZDV IU HLQ KlOLFKHV =LPPHU© EHPHUNWH *DQMDLQGHPHUYHUlFKWOLFKXPVLFKVFKDXWHª6RGXQNHOXQG GLH)HQVWHUJHKHQDXIGHQ+RI6LHKDEHQHVLQMHGHU+LQVLFKW EHLXQVVFKOHFKWJHWURIIHQ1DGDVLVWQLFKWPHLQH6DFKHIU GLH:RKQXQJELQLFKQLFKW]XVWlQGLJ© 3WL]\Q EOLFNWH KHUHLQ XQG ULHI *DQMD GLHVHU YHUOLH GHQ )UVWHQHLOLJXQGJLQJKLQDXVREZRKOHUHLJHQWOLFKQRFKHWZDV KDWWH VDJHQ ZROOHQ DEHU HU KDWWH JH]DXGHUW XQG VLFK JHZLVVHUPDHQ JHVFKlPW GDYRQ DQ]XIDQJHQ $XFK GDV
6FKLPSIHQEHUGDV=LPPHUKDWWHVHLQHQ*UXQGQXULQ*DQMDV 9HUOHJHQKHLW .DXP KDWWH GHU )UVW VLFK JHZDVFKHQ XQG VHLQH 7RLOHWWH HLQLJHUPDHQ LQ 2UGQXQJ JHEUDFKW DOV VLFK GLH 7U ZLHGHU |IIQHWHXQGHLQHQHXH*HVWDOWKHUHLQVFKDXWH (V ZDU HLQ +HUU YRQ HWZD GUHLLJ -DKUHQ ]LHPOLFK JUR EUHLWVFKXOWULJPLWJURHP.RSIXQGNUDXVHPU|WOLFKHP+DDU 6HLQ *HVLFKW ZDU IOHLVFKLJ XQG JHU|WHW GLH /LSSHQ GLFN GLH 1DVH EUHLW XQG SODWW GLH NOHLQHQ YHUVFKZRPPHQHQ VS|WWLVFKHQ$XJHQEOLQ]HOWHQIRUWZlKUHQG,PJDQ]HQHUZHFNWH HU GHQ (LQGUXFN ]LHPOLFKHU )UHFKKHLW 6HLQH .OHLGXQJ ZDU XQVDXEHU (U |IIQHWH GLH 7U DQIDQJV QXU VR ZHLW GD HU GHQ .RSI KLQHLQVWHFNHQ NRQQWH 'LHVHU KLQHLQJHVWHFNWH .RSI VDK VLFK HWZDIQI6HNXQGHQODQJLP=LPPHUXPGDQQ|IIQHWHVLFKGLH 7U ODQJVDP ZHLWHU XQG GLH JDQ]H *HVWDOW ZXUGH DXI GHU 6FKZHOOH VLFKWEDU DEHU GHU %HVXFKHU WUDW QRFK QLFKW KHUHLQ VRQGHUQ IXKU YRQ GHU 6FKZHOOH DXV IRUW GHQ )UVWHQ PLW ]XVDPPHQJHNQLIIHQHQ $XJHQ ]X PXVWHUQ (QGOLFK PDFKWH HU GLH 7U KLQWHU VLFK ]X WUDW QlKHU VHW]WH VLFK DXI HLQHQ 6WXKO HUJULIIGHQ)UVWHQNUlIWLJEHLGHU+DQGXQGVHW]WHLKQVFKUlJ JHJHQEHU DXI GDV 6RID ª0HLQ 1DPH LVW )HUG\VFKWVFKHQNR© VDJWHHULQGHPHUGHP)UVWHQXQYHUZDQGWXQGIRUVFKHQGLQV *HVLFKW EOLFNWH ª1XQ XQG"© DQWZRUWHWH GHU )UVW EHLQDKH ODFKHQG ª,FK ELQ KLHU 8QWHUPLHWHU© IXKU )HUG\VFKWVFKHQNR IRUW LKQ ZLH YRUKHU DQVWDUUHQG ª:QVFKHQ 6LH PLW PLU EHNDQQW ]X ZHUGHQ"© ª$FK ZDV© EUXPPWH GHU *DVW ZKOWH VLFKLQGHQ+DDUHQVHXI]WHXQGEOLFNWHLQGLHHQWJHJHQJHVHW]WH (FNHª+DEHQ6LH*HOG"©IUDJWHHUSO|W]OLFKVLFK]XP)UVWHQ KLQZHQGHQGª1XUZHQLJ©ª$OVRZLHYLHO"©ª)QIXQG]ZDQ]LJ 5XEHO©ª=HLJHQ6LHPDOKHU© 'HU )UVW ]RJ GHQ )QIXQG]ZDQ]LJUXEHOVFKHLQ DXV GHU :HVWHQWDVFKHXQGUHLFKWHLKQ)HUG\VFKWVFKHQNR'LHVHUIDOWHWH LKQ DXVHLQDQGHU EHVDK LKQ GUHKWH LKQ GDQQ DXI GLH DQGHUH
6HLWH XQG KLHOW LKQ JHJHQ GDV /LFKW ª(V LVW GRFK UHFKW PHUNZUGLJ©VDJWHHUZLHLQ1DFKGHQNHQYHUVXQNHQ ªZRKHU ZHUGHQ VLH QXU VR EUDXQ" 'LHVH )QIXQG]ZDQ]LJUXEHOVFKHLQH ZHUGHQPDQFKPDOVFKUHFNOLFKEUDXQZlKUHQGDQGHUHGDJHJHQ JDQ]DXVEOHLFKHQ'DQHKPHQ6LH© 'HU )UVW QDKP VHLQH %DQNQRWH ]XUFN )HUG\VFKWVFKHQNR VWDQG YRQ VHLQHP 6WXKOH DXI ª,FK ELQ JHNRPPHQ XP 6LH ]X ZDUQHQHUVWHQVOHLKHQ6LH PLU QLHPDOV *HOG GHQQ LFK ZHUGH 6LH XQIHKOEDU GDUXP ELWWHQ© ª*XW© ª%HDEVLFKWLJHQ 6LH KLHU ]X EH]DKOHQ"© ª$OOHUGLQJV© ª,FK EHDEVLFKWLJH HV QLFKW IlOOW PLUQLFKWHLQ ,FKZRKQH KLHU UHFKWV YRQ ,KQHQ GLH HUVWH 7U KDEHQ 6LH JHVHKHQ" *HEHQ 6LH VLFK QLFKW ]X RIW GLH 0KH PLFK ]X EHVXFKHQ LFK ZHUGH VFKRQ ]X ,KQHQ NRPPHQ GD N|QQHQ 6LH XQEHVRUJW VHLQ +DEHQ 6LH GHQ *HQHUDO VFKRQ JHVHKHQ"© ª1HLQ© ª$XFK QRFK QLFKW JHK|UW"© ª1DWUOLFK QLFKW© ª1D 6LH ZHUGHQ LKQ MD QRFK ]X VHKHQ XQG ]X K|UHQ EHNRPPHQ GHU YHUVXFKW VRJDU PLFK DQ]XSXPSHQ $YLV DX OHFWHXU /HEHQ 6LH ZRKO .DQQ PDQ HWZD OHEHQ ZHQQ PDQ )HUG\VFKWVFKHQNRKHLW":LH"©ª:DUXPGHQQQLFKW"©ª/HEHQ 6LHZRKO© (UJLQJ]XU7U 'HU )UVWHUIXKUVSlWHUGDGLHVHU +HUU HV VLFKJHZLVVHUPDHQ]XU3IOLFKWJHPDFKWKDWWHDOOH/HXWHGXUFK VHLQH 2ULJLQDOLWlW XQG 6SDKDIWLJNHLW LQ (UVWDXQHQ ]X YHUVHW]HQGDLKPGDVDEHUVRJXWZLHQLHJHODQJ$XIPDQFKH PDFKWHHUVRJDUHLQHQUHFKWXQDQJHQHKPHQ(LQGUXFNZDVLKP ZLUNOLFK VFKPHU]OLFK ZDU LQGHV ZXUGH HU VHLQHU $XIJDEH GDUXPGRFKQLFKWXQWUHX ,QGHU7UJHODQJHVLKPQRFKHLQH EHVRQGHUH /HLVWXQJ KLQ]X]XIJHQ HU VWLH QlPOLFK GRUW DXI HLQHQHLQWUHWHQGHQ+HUUQOLHGLHVHQQHXHQGHP)UVWHQQRFK XQEHNDQQWHQ *DVW DQ VLFK YRUEHL LQV =LPPHU JHKHQ XQG ]ZLQNHUWHKLQWHUGHVVHQ5FNHQHLQSDDUPDOZDUQHQGQDFKLKP KLQ6RHUUHLFKWHHUGRFKQRFKHLQHQHIIHNWYROOHQ$EJDQJ
IU] :LQNIUGHQ/HVHU
'HUQHXH+HUUZDUYRQKRKHP:XFKVHWZDIQIXQGIQI]LJ -DKUH DOW RGHU QRFK HWZDV GDUEHU ]LHPOLFK ZRKOEHOHLEW PLW HLQHP SXUSXUURWHQ IOHLVFKLJHQ DXIJHGXQVHQHQ *HVLFKW GDV YRQHLQHPGLFKWHQJUDXHQ%DFNHQEDUWXPUDKPWZDUPLWHLQHP 6FKQXUUEDUW XQG JURHQ VWDUN KHUYRUVWHKHQGHQ $XJHQ 6HLQH (UVFKHLQXQJZlUHUHFKWVWDWWOLFKJHZHVHQZHQQVLHQLFKWHWZDV 1DFKOlVVLJHV9HUOHEWHVXQGVRJDU8QVDXEHUHVJHKDEWKlWWH(U WUXJ HLQHQ DOWHQ DQ GHQ (OOERJHQ EHLQDK VFKRQ GXUFKJHVWRHQHQ 5RFN DXFK VHLQH :lVFKH ZDU VFKPXW]LJ DXHUKDOEGHV+DXVHVNRQQWHHUVLFKVRQLFKWVHKHQODVVHQ8P LKQ KHUXP URFK HV HLQ ZHQLJ QDFK 6FKQDSV DEHU VHLQ %HQHKPHQZDUHIIHNWYROOZLHZRKOHWZDVVWXGLHUWXQGRIIHQEDU YHUDQODW YRQ GHP OHLGHQVFKDIWOLFKHQ :XQVFK GXUFK :UGH ]XLPSRQLHUHQ'HU+HUUQlKHUWHVLFKGHP)UVWHQODQJVDPPLW HLQHP IUHXQGOLFKHQ /lFKHOQ HUJULII VFKZHLJHQG VHLQH +DQG GLHHUGDQQLQGHUVHLQLJHQEHKLHOWXQGEOLFNWHLKPHLQH:HLOH LQV *HVLFKW ZLH ZHQQ HU ZRKOEHNDQQQWH =JH GDULQ ZLHGHUIlQGH ª(U LVW HV (U LVW HV© VDJWH HU OHLVH DEHU LQ IHLHUOLFKHP 7RQ ª$OV VWQGH HU OHLEKDIWLJ YRU PLU ,FK K|UWH ZLH GD PHKUPDOV HLQ PLU EHNDQQWHU WHXUHU 1DPH JHQDQQW ZXUGH XQG HULQQHUWH PLFK DQ GLH XQZLHGHUEULQJOLFK GDKLQJHVFKZXQGHQH 9HUJDQJHQKHLW 6LH VLQG )UVW 0\VFKNLQ"© ª*DQ] ULFKWLJ© ª*HQHUDO D ' ,ZROJLQ HLQ XQJOFNOLFKHU 0HQVFK 'DUI LFK XP ,KUHQ 9RUQDPHQ XQG 9DWHUVQDPHQ ELWWHQ"© ª/HZ 1LNRODMHZLWVFK© ª(V VWLPPW HV VWLPPW'HU6RKQPHLQHV)UHXQGHVXQGLFKNDQQZRKOVDJHQ PHLQHV 6SLHONDPHUDGHQ 1LNRODL 3HWURZLWVFK© ª0HLQ 9DWHU KLH 1LNRODL /ZRZLWVFK© ª/ZRZLWVFK© YHUEHVVHUWH VLFK GHU *HQHUDO DEHU QLFKW HWZD HLOLJ VRQGHUQ PLW YROOVWlQGLJHP 6HOEVWEHZXWVHLQ DOV RE HU GHQ ULFKWLJHQ 1DPHQ NHLQHVZHJV YHUJHVVHQ VRQGHUQ VLFK QXU ]XIlOOLJ YHUVSURFKHQ KlWWH (U VHW]WH VLFK HUJULII JOHLFKIDOOV GHQ )UVWHQ EHL GHU +DQG XQG Q|WLJWHLKQVLFKQHEHQLKQ]XVHW]HQª,FKKDEH6LHDXIPHLQHQ $UPHQJHWUDJHQ©ª,QGHU7DW"©IUDJWHGHU)UVWª0HLQ9DWHU
LVW VFKRQ VHLW ]ZDQ]LJ -DKUHQ WRW© ª-D VHLW ]ZDQ]LJ -DKUHQ VHLW ]ZDQ]LJ -DKUHQ XQG GUHL 0RQDWHQ :LU KDEHQ ]XVDPPHQ GLH 6FKXOH EHVXFKW LFK JLQJ GDQQ JOHLFK YRQ GHU 6FKXOH ]XP 0LOLWlU© ª0HLQ 9DWHU ZDU HEHQIDOOV EHLP 0LOLWlU HU ZDU /HXWQDQWLP:DVVLONRZVFKHQ 5HJLPHQW© ª,P %MHORPLUVFKHQ 6HLQH9HUVHW]XQJLQGDV%MHORPLUVFKH5HJLPHQWHUIROJWHJDQ] NXU]YRUVHLQHP7RGH,FKVWDQGHEHQIDOOVGRUWXQGHUZLHVLKP GLHOHW]WH(KUH,KUH0XWWHU© 'HU *HQHUDO KLHOW LQQH ZLH YRQ HLQHU WUDXULJHQ (ULQQHUXQJ EHUZlOWLJWª$XFKVLH©VDJWHGHU)UVWªVWDUEHLQKDOEHV-DKU GDUDXI LQIROJH HLQHU (UNlOWXQJ© ª1LFKW LQIROJH HLQHU (UNlOWXQJ 1LFKW LQIROJH HLQHU (UNlOWXQJ JODXEHQ 6LH HLQHP DOWHQ 0DQQ ,FK ZDU DP 2UW XQG ELQ EHL LKUHU %HHUGLJXQJ ]XJHJHQ JHZHVHQ 9RU *UDP XP LKUHQ )UVWHQ LVW VLH JHVWRUEHQ QLFKW LQIROJH HLQHU (UNlOWXQJ -D DXFK GLH )UVWLQ LVWPLUXQYHUJHOLFK2-XJHQG-XJHQG8PLKUHWZLOOHQZlUHQ GHU)UVWXQGLFKREJOHLFKZLUVHLWXQVHUHU.LQGKHLWGLHEHVWHQ )UHXQGH JHZHVHQ ZDUHQ EHLQDKH DQHLQDQGHU ]X 0|UGHUQ JHZRUGHQ© 'HU )UVW EHJDQQ PLW HLQLJHP 0LWUDXHQ ]X]XK|UHQ ª,FK ZDULQ,KUH0XWWHUOHLGHQVFKDIWOLFKYHUOLHEWDOVVLHVFKRQ%UDXW ZDU GLH %UDXW PHLQHV )UHXQGHV 'HU )UVW EHPHUNWH GDV XQG ZDU GDUEHU K|FKVW EHWURIIHQ (LQHV 0RUJHQV HV ZDU QRFK QLFKW VLHEHQ 8KU NRPPW HU ]X PLU XQG ZHFNW PLFK (UVWDXQW ]LHKH LFK PLFK DQ 6FKZHLJHQ YRQ EHLGHQ 6HLWHQ LFK EHJULII DOOHV (U ]LHKW ]ZHL 3LVWROHQ DXV GHU 7DVFKH hEHUV 7DVFKHQWXFK 2KQH =HXJHQ :R]X EUDXFKWHQ ZLU =HXJHQ ZHQQZLUHLQDQGHULQ IQI 0LQXWHQ LQ GLH (ZLJNHLW EHI|UGHUQ ZROOWHQ" :LU OXGHQ]RJHQ GDV 7XFK DXVHLQDQGHU VWHOOWHQ XQV RUGQXQJVJHPl KLQ VHW]WHQ XQV JHJHQVHLWLJ GLH 3LVWROHQ DXIV +HU] XQG VDKHQ HLQDQGHU LQV *HVLFKW 3O|W]OLFK VWU]HQ XQV EHLGHQGLH7UlQHQ LQ 6WU|PHQ DXV GHQ $XJHQ XQG GLH +lQGH IDQJHQ XQV DQ ]X ]LWWHUQ %HLGHQ EHLGHQ JOHLFK]HLWLJ 1D GD IROJWHQ QXQ QDWUOLFK 8PDUPXQJHQ XQG EHLGHUVHLWLJHU
:HWWVWUHLWLP(GHOPXW 'HU )UVW ULHI ¾6LH VHL GHLQ½ ,FK ULHI ¾6LH VHL GHLQ½ 0LW HLQHP :RUWH PLW HLQHP :RUWH 6LH ZROOHQEHLXQVZRKQHQEHLXQVZRKQHQ"©ª-DYLHOOHLFKWIU HLQLJH =HLW© DQWZRUWHWH GHU )UVW HWZDV VWRFNHQG ª)UVW 0DPD OlW 6LH ]X VLFK ELWWHQ© ULHI .ROMD GHU GXUFK GLH 7U KHUHLQEOLFNWH 'HU)UVWZROOWHDXIVWHKHQXPKLQ]XJHKHQDEHUGHU*HQHUDO OHJWH LKP GLH UHFKWH +DQG DXI GLH 6FKXOWHU XQG GUFNWH LKQ IUHXQGVFKDIWOLFKZLHGHUDXI GDV 6RID QLHGHU ª$OV DXIULFKWLJHU )UHXQG ,KUHV 9DWHUV P|FKWH LFK 6LH LP YRUDXV DXI HLQLJHV DXIPHUNVDP PDFKHQ© VDJWH GHU *HQHUDO ª,FK IU PHLQH 3HUVRQ KDEH ZLH 6LH VHOEVW VHKHQ XQWHU HLQHU WUDJLVFKHQ .DWDVWURSKH JHOLWWHQ DEHU RKQH *HULFKW XQG 8UWHLO RKQH *HULFKW XQG 8UWHLO 1LQD $OH[DQGURZQD LVW HLQH YRUWUHIIOLFKH )UDX XQG PHLQH 7RFKWHU :DUZDUD $UGDOLRQRZQD HLQH YRUWUHIIOLFKH 7RFKWHU 'XUFK GLH 9HUKlOWQLVVH JH]ZXQJHQ YHUPLHWHQ ZLU =LPPHU ± HLQ XQHUK|UWHU 1LHGHUJDQJ GHU )DPLOLH 6R PX HV PLU JHKHQ GHU LFK KlWWH *HQHUDOJRXYHUQHXU ZHUGHQ PVVHQ $EHU GDV =XVDPPHQVHLQ PLW ,KQHQ ZLUG XQV LPPHU HLQH )UHXGH VHLQ ,Q]ZLVFKHQ VSLHOW VLFK KLHU LQ PHLQHP +DXVH HLQH VFKOLPPH 7UDJ|GLHDE© 'HU)UVWEOLFNWHLKQIUDJHQGXQGPLWJURHU1HXJLHUDQª(V LVWHLQH+HLUDWLP:HUNHHLQH+HLUDWZLHVLHVHOWHQYRUNRPPW 'LH +HLUDW HLQHV ]ZHLGHXWLJHQ )UDXHQ]LPPHUV XQG HLQHV MXQJHQ 0DQQHV ZHOFKHU .DPPHUMXQNHU VHLQ N|QQWH 'LHVHV :HLEVROOLQ GDV +DXV JHIKUW ZHUGHQ LQ GHP PHLQH 7RFKWHU XQGPHLQH)UDXOHEHQ$EHUVRODQJHLFKDWPHZLUGVLHHVQLFKW EHWUHWHQ,FKZHUGHPLFKDXIGLH6FKZHOOHOHJHQPDJVLHEHU PLFK KLQZHJVFKUHLWHQ 0LW *DQMD UHGH LFK MHW]W IDVW JDU QLFKWLFKYHUPHLGHHVVRJDUPLWLKP]XVDPPHQ]XWUHIIHQ ,FK WHLOH ,KQHQ GDV DEVLFKWOLFK YRUKHU PLW ZHQQ 6LH EHL XQV ZRKQHQ ZHUGHQ ZHUGHQ 6LH MD GRFK RKQHGLHV =HXJH GLHVHU 9RUJlQJH ZHUGHQ $EHU 6LH VLQG GHU 6RKQ PHLQHV )UHXQGHV
XQGLFKELQ]XGHU+RIIQXQJEHUHFKWLJW©ª7XQ6LHPLUGRFK GHQ *HIDOOHQ )UVW XQG NRPPHQ 6LH ]X PLU LQ GHQ 6DORQ© ULHI 1LQD $OH[DQGURZQD GLH QXQ VHOEVW DQ GHU 7U HUVFKLHQ ª'HQNH GLU QXU OLHEH )UDX© ULHI GHU *HQHUDO ªHV VWHOOW VLFK KHUDXVGDLFKGHQ)UVWHQDXIPHLQHQ$UPHQJHZLHJWKDEH© 1LQD $OH[DQGURZQD ZDUI GHP *HQHUDO HLQHQ YRUZXUIVYROOHQ GHP )UVWHQ HLQHQ SUIHQGHQ %OLFN ]X VDJWH MHGRFKNHLQ:RUW'HU)UVWIROJWHLKUDEHUNDXPZDUHQVLHLQ GHQ6DORQJHNRPPHQXQGKDWWHQVLFKJHVHW]WXQGNDXPKDWWH 1LQD $OH[DQGURZQD DQJHIDQJHQ GHP )UVWHQ HLOLJ HWZDV KDOEODXW PLW]XWHLOHQ DOV SO|W]OLFK GHU *HQHUDO HEHQIDOOV LP 6DORQ HUVFKLHQ 1LQD $OH[DQGURZQD YHUVWXPPWH VRIRUW XQG EHXJWH VLFK PLW RIIHQVLFKWOLFKHP bUJHU EHU LKUH 6WULFNDUEHLW 'HU*HQHUDOPRFKWHYLHOOHLFKWEHPHUNHQGDVLHVLFKlUJHUWH OLHVLFKDEHUGDGXUFKQLFKWDXVVHLQHUYRU]JOLFKHQ6WLPPXQJ EULQJHQ ª'HU 6RKQ PHLQHV )UHXQGHV© ULHI HU VLFK DQ 1LQD $OH[DQGURZQDZHQGHQG ª8QGVRXQHUZDUWHW ,FKKDWWHVFKRQ OlQJVW QLFKW PHKU GDUDXI ]X KRIIHQ JHZDJW $EHU OLHEH )UDX HULQQHUVW GX GLFK GHQQ ZLUNOLFK QLFKW PHKU DQ GHQ VHOLJHQ 1LNRODL /ZRZLWVFK" 'X KDVW LKQ QRFK NHQQHQJHOHUQW LQ 7ZHU"© ª,FK HULQQHUH PLFK QLFKW DQ 1LNRODL /ZRZLWVFK :DU GDV ,KU 9DWHU"© IUDJWH VLH GHQ )UVWHQ ª-DZRKO DEHU HU LVW VRYLHO LFK ZHL QLFKW LQ 7ZHU JHVWRUEHQ VRQGHUQ LQ -HOLVDZHWJUDG©EHPHUNWH]XGHP*HQHUDOJHZHQGHWGHU)UVW VFKFKWHUQ ª,FK KDEH HV YRQ 3DZOLVFKWVFKHZ JHK|UW © ª(V ZDULQ7ZHU©HUNOlUWHGHU*HQHUDOLQEHVWLPPWHP7RQª6HLQH 9HUVHW]XQJ QDFK 7ZHU KDWWH HUVW NXU] YRU VHLQHP 7RGH VWDWWJHIXQGHQ QRFK EHYRU VLFK VHLQH .UDQNKHLW HQWZLFNHOWH 6LHVHOEVW)UVWZDUHQGDPDOVQRFK]XNOHLQXQGN|QQHQVLFK GDKHU ZHGHU DQ GLH 9HUVHW]XQJ QRFK DQ GLH 5HLVH HULQQHUQ 3DZOLVFKWVFKHZ DEHU NDQQ VLFK JHLUUW KDEHQ REZRKO HU HLQ JDQ] YRU]JOLFKHU 0HQVFK ZDU© ª6LH KDEHQ DXFK 3DZOLVFKWVFKHZJHNDQQW"©ª(UZDUHLQVHOWHQHU0HQVFK$EHU LFK ZDU EHL GHP 7RGH ,KUHV 9DWHUV SHUV|QOLFK DQZHVHQG XQG
VHJQHWH LKQ DXI GHP 7RWHQEHWWH © ª0HLQ 9DWHU VWDUE MD DOV $QJHNODJWHULQ+DIW©EHPHUNWHGHU)UVWZLHGHUªREZRKOLFK QLH KDEH LQ (UIDKUXQJ EULQJHQ N|QQHQ ZHOFKHV 9HUJHKHQV HU HLJHQWOLFK EHVFKXOGLJW ZXUGH HU LVW LP /D]DUHWW JHVWRUEHQ© ª2K GDV ZDU ZHJHQ GHU *HVFKLFKWH PLW GHP *HPHLQHQ .ROSDNRZ'HU)UVWZlUH]ZHLIHOORVIUHLJHVSURFKHQZRUGHQ© ª6R" :LVVHQ 6LH GDV EHVWLPPW"© IUDJWH GHU )UVW OHEKDIW LQWHUHVVLHUW ª8QG RE© ULHI GHU *HQHUDO ª'DV .ULHJVJHULFKW JLQJ DXVHLQDQGHURKQHHLQHQ%HVFKOX JHIDW]XKDEHQ(LQH JDQ] XQJODXEOLFKH *HVFKLFKWH -D PDQ NDQQ VRJDU VDJHQ HLQH JHKHLPQLVYROOH *HVFKLFKWH 'HU +DXSWPDQQ XQG .RPSDQLHFKHI /DULRQRZ ODJ LP 6WHUEHQ XQG GHP )UVWHQ ZXUGHQ SURYLVRULVFK GHVVHQ GLHQVWOLFKH 2EOLHJHQKHLWHQ EHUWUDJHQ JXW 'HU *HPHLQH .ROSDNRZ EHJHKW HLQHQ 'LHEVWDKOHUHQWZHQGHWHLQHP.DPHUDGHQHLQSDDU6WLHIHOXQG YHUWULQNW VLH JXW 'HU )UVW ± ZRKOJHPHUNW HV ZDU LQ *HJHQZDUW GHV )HOGZHEHOV XQG GHV .RUSRUDOV ± PDFKW .ROSDNRZ JHK|ULJ KHUXQWHU XQG GURKW LKQ DXVSHLWVFKHQ ]X ODVVHQ 6HKU JXW .ROSDNRZ JHKW LQ GLH .DVHUQH OHJW VLFK DXI VHLQH 3ULWVFKH XQG VWLUEW HLQH 9LHUWHOVWXQGH GDUDXI 9RUWUHIIOLFK DEHU GRFK HLQ XQHUZDUWHWHU IDVW XQJODXEOLFKHU 9RUJDQJ :LH GHP QXQ DXFK VHLQ PRFKWH .ROSDNRZ ZXUGH EHJUDEHQ GHU )UVW HUVWDWWHWH %HULFKW XQG GDQQ ZXUGH .ROSDNRZ DXV GHQ /LVWHQ JHVWULFKHQ 0DQ N|QQWH PHLQHQ HV OLHH VLFK JDU QLFKWV %HVVHUHV GHQNHQ $EHU JHQDX HLQ KDOEHV -DKU QDFKKHU EHL GHU %ULJDGHPXVWHUXQJ HUVFKHLQW GHU *HPHLQH.ROSDNRZDOVZlUHEHUKDXSWQLFKWVYRUJHIDOOHQLQ GHU GULWWHQ .RPSDQLH GHV ]ZHLWHQ %DWDLOORQV GHV 1RZRVHPOMDVFKHQ ,QIDQWHULHUHJLPHQWV GDV ]X GHUVHOEHQ %ULJDGH XQG ]X GHUVHOEHQ 'LYLVLRQ JHK|UWH ZLH XQVHU 5HJLPHQW© ª:LH© ULHI GHU )UVW JDQ] DXHU VLFK YRU (UVWDXQHQ ª(V YHUKlOW VLFK QLFKW VR GDV LVW HLQ ,UUWXP© ZDQGWH VLFK 1LQD $OH[DQGURZQD SO|W]OLFK ]X LKP ZREHL VLH
LKQIDVWEHNPPHUWDQVDKª0RQPDQVHWUDPSH© ª$EHUOLHEH )UDXVHWURPSHGDVLVWOHLFKWJHVDJWDEHUNOlUHGXGRFKVHOEVW HLQPDO HLQHQ VROFKHQ )DOO DXI $OOH ZDUHQ ZLH YRU GHQ .RSI JHVFKODJHQ ,FK ZUGH GHU HUVWH VHLQ GHU GD VDJWH TX¶RQ VH WURPSH
$EHU XQJOFNOLFKHUZHLVH ZDU LFK =HXJH GLHVHU 9RUIlOOH XQG JHK|UWH ]XJOHLFK GHU 8QWHUVXFKXQJVNRPPLVVLRQ DQ $OOH .RQIURQWDWLRQHQ EHZLHVHQ GD GDV GHUVHOEH JDQ] GHUVHOEH *HPHLQH .ROSDNRZ ZDU GHQ PDQ HLQ KDOEHV -DKU YRUKHU PLW GHU EOLFKHQ /HLFKHQSDUDGH XQWHU 7URPPHOZLUEHO EHHUGLJW KDWWH (V ZDU WDWVlFKOLFK HLQ VHOWHQHU IDVW XQJODXEOLFKHU)DOOGDVJHEHLFK]XDEHU© ª3DSD HV LVW IU 6LH ]XP 0LWWDJHVVHQ JHGHFNW© PHOGHWH :DUZDUD $UGDOLRQRZQD GLH LQV =LPPHU WUDW ª$K GDV LVW MD VFK|QDXVJH]HLFKQHW,FKKDEHDXFKVFKRQJHZDOWLJHQ+XQJHU $EHU GLHVHU )DOO KDW NDQQ PDQ VDJHQ DXFK VHLQH SV\FKRORJLVFKH 6HLWH © ª'LH 6XSSH ZLUG ZLHGHU NDOW ZHUGHQ© GUlQJWH :DUZDUD XQJHGXOGLJ ª*OHLFK JOHLFK© PXUPHOWH GHU *HQHUDO XQG YHUOLH GDV =LPPHU ª8QG WURW] DOOHU 1DFKIRUVFKXQJHQ © K|UWH PDQ LKQ QRFK DXI GHP .RUULGRU VDJHQ ª6LH ZHUGHQ PHLQHP 0DQQH $UGDOLRQ $OH[DQGURZLWVFK YLHOHV QDFKVHKHQ PVVHQ ZHQQ 6LH EHL XQV ZRKQHQ EOHLEHQ© VDJWH 1LQD $OH[DQGURZQD ]XP )UVWHQ (U ZLUG6LHEULJHQVQLFKW]XYLHOEHOlVWLJHQHUVSHLVWDXFKDOOHLQ ]X0LWWDJ6LHJHEHQ JHZLVHOEVW]XGDMHGHUVHLQH0lQJHO XQGVHLQHEHVRQGHUHQ(LJHQWPOLFKNHLWHQKDWXQGGLH/HXWH DXIGLHPDQPLW)LQJHUQ]X]HLJHQSIOHJWRIWQRFKQLFKWHLQPDO VRDUJVLQGZLHPDQFKHDQGHUQ0HQVFKHQ1XUXPHLQVP|FKWH LFK 6LH GULQJHQG ELWWHQ VROOWH PHLQ 0DQQ VLFK HLQPDO DQ 6LH ZHJHQGHU=DKOXQJIUGDV=LPPHUZHQGHQVRVDJHQ6LHLKP 6LH KlWWHQ VFKRQ DQ PLFK EH]DKOW 'DV KHLW DXFK ZDV 6LH $UGDOLRQ $OH[DQGURZLWVFK JlEHQ ZUGH EHL GHU $EUHFKQXQJ DOVYRQ,KQHQEH]DKOWEHUFNVLFKWLJWZHUGHQDEHULFKELWWH6LH
IU] 0HLQ0DQQLUUWVLFK IU] GDHUVLFKLUUW
HLQ]LJXPGHU2UGQXQJZLOOHQGDUXP:DVLVW:DUMD"© :DUMD ZDU LQ GDV =LPPHU ]XUFNJHNHKUW XQG UHLFKWH GHU 0XWWHU VFKZHLJHQG 1DVWDVMD )LOLSSRZQDV %LOG KLQ 1LQD $OH[DQGURZQD]XFNWH]XVDPPHQXQGEHWUDFKWHWHHV]XHUVWZLH HUVFKURFNHQ GDQQ PLW HLQHP EHGUFNHQGHQ ELWWHUHQ *HIKO HLQH =HLWODQJ (QGOLFK ULFKWHWH VLH HLQHQ IUDJHQGHQ %OLFN DXI :DUMD ª6LH KDW HV LKP KHXWH VHOEVW JHVFKHQNW© VDJWH :DUMD ªXQG KHXWH DEHQG ZLUG VLFK EHL LKQHQ DOOHV HQWVFKHLGHQ© ª+HXWHDEHQG©ZLHGHUKROWH1LQD$OH[DQGURZQDKDOEODXWZLH LQ 9HU]ZHLIOXQJ ª1XQ GDQQ LVW DOVR QLFKW PHKU GDUDQ ]X ]ZHLIHOQ XQG HV EOHLEW XQV QLFKWV PHKU ]X KRIIHQ GXUFK GLH 6FKHQNXQJGHV%LOGHVKDWVLHVLFKGHXWOLFKJHQXJHUNOlUW+DW HU HV GLU GHQQ VHOEVW JH]HLJW"© IJWH VLH HUVWDXQW KLQ]X ª6LH ZLVVHQ GRFK 0DPD GD ZLU VFKRQ VHLW HLQHP JDQ]HQ 0RQDW NDXPHLQ:RUWPLWHLQDQGHUUHGHQ3WL]\QKDWPLUDOOHVHU]lKOW XQGGDV%LOGODJGRUWQHEHQGHP7LVFKDXIGHP)XERGHQGD KDEH LFK HV DXIJHKREHQ© ª)UVW© ZDQGWH VLFK 1LQD $OH[DQGURZQD SO|W]OLFK DQ LKQ ªLFK ZROOWH 6LH IUDJHQ XQG HEHQ GHVZHJHQ KDWWH LFK 6LH KLHUKHUELWWHQ ODVVHQ RE 6LH PLW PHLQHP6RKQ VFKRQ OlQJHU EHNDQQW VLQG ,FK PHLQH HU VDJWH 6LHVHLHQHUVWKHXWHYRQDQGHUZlUWVKLHUDQJHNRPPHQ"© 'HU)UVWJDELKULQ.U]HEHUVLFK$XVNXQIWZREHLHUGLH JU|HUH+lOIWHZHJOLH1LQD$OH[DQGURZQDXQG:DUMDK|UWHQ DXIPHUNVDP]Xª:HQQLFK6LHGDQDFKIUDJH©EHPHUNWH1LQD $OH[DQGURZQDªVRWXHLFKHVQLFKWHWZDLQGHU$EVLFKWHWZDV EHU*DZULOD$UGDOLRQRZLWVFKKHUDXV]XEHNRPPHQJHEHQ6LH VLFKLQGLHVHU+LQVLFKWNHLQHQLUULJHQ9RUVWHOOXQJHQKLQ:HQQ HUHWZDVKDWZDVHUPLUQLFKWVHOEVWJHVWHKHQPDJVRZLOOLFK GDVDXFKQLFKWKLQWHUVHLQHP5FNHQLQ(UIDKUXQJEULQJHQ,FK IUDJWH HLJHQWOLFK GHVZHJHQ ZHLO *DQMD YRUKLQ DOV 6LH KLQDXVJHJDQJHQ ZDUHQ DXI PHLQH )UDJH QDFK ,KQHQ PLU DQWZRUWHWH¾(UZHLDOOHVPDQEUDXFKWVLFKYRULKPQLFKW ]X JHQLHUHQ½ :DV EHGHXWHW GDV" 'DV KHLW LFK P|FKWH JHUQ ZLVVHQELV]XZHOFKHP*UDGH©
$XIHLQPDOWUDWHQ*DQMDXQG3WL]\QHLQ1LQD$OH[DQGURZQD YHUVWXPPWHVRIRUW'HU)UVWEOLHEDXIVHLQHP6WXKOQHEHQLKU VLW]HQZlKUHQG:DUZDUD]XU6HLWHJLQJ1DVWDVMD)LOLSSRZQDV %LOG ODJ DQ VHKU VLFKWEDUHU 6WHOOH DXI 1LQD $OH[DQGURZQDV $UEHLWVWLVFKJHUDGHYRULKU$OV*DQMDHVHUEOLFNWHUXQ]HOWHHU GLH6WLUQQDKPHVlUJHUOLFKYRP7LVFKXQGZDUIHVDXIVHLQHQ 6FKUHLEWLVFK GHU DP DQGHUQ (QGH GHV =LPPHUV VWDQG ª$OVR KHXWH *DQMD"© IUDJWH 1LQD $OH[DQGURZQD SO|W]OLFK ª:DV KHXWH"©ULHI*DQMD]XVDPPHQVFKUHFNHQGXQGIXKUSO|W]OLFKDXI GHQ)UVWHQORVª$KLFKYHUVWHKH6LHKDEHQDXFKKLHU$EHU ZDVLVWGHQQGDVLQDOOHU:HOWPLW,KQHQ"(LQH$UW.UDQNKHLW" 6LQG6LHQLFKWLPVWDQGHGHQ0XQG]XKDOWHQ"1XQGDQQELWWH EHJUHLIHQ 6LH HQGOLFK 'XUFKODXFKW © ª+LHU WUDJH LFK GLH 6FKXOG *DQMD XQG NHLQ DQGHUHU©W XQWHUEUDFK LKQ 3WL]\Q *DQMD EOLFNWH LKQ IUDJHQG DQ ª(V LVW MD GRFK VR DP EHVWHQ *DQMDXPVRPHKUDOVYRQGHUHLQHQ6HLWHGLH6DFKHHUOHGLJW LVW© PXUPHOWH 3WL]\Q GDQQ JLQJ HU EHLVHLWH VHW]WH VLFK DQ HLQHQ 7LVFK ]RJ HLQ PLW %OHLVWLIW EHVFKULHEHQHV %ODWW 3DSLHU DXVGHU7DVFKHXQGEOLFNWHXQYHUZDQGWGDUDXI*DQMDVWDQGPLW ILQVWHUHU 0LHQH GD XQG HUZDUWHWH PLW LQQHUHU 8QUXKH HLQH )DPLOLHQV]HQH6LFKGHP)UVWHQJHJHQEHU]XHQWVFKXOGLJHQ NDP LKP JDU QLFKW LQ GHQ 6LQQ ª:HQQ DOOHV HUOHGLJW LVW KDW ,ZDQ 3HWURZLWVFK QDWUOLFK UHFKW© VDJWH 1LQD $OH[DQGURZQD ª%LWWH PDFK NHLQ VR E|VHV *HVLFKW *DQMD XQG lUJHUH GLFK QLFKWLFKZHUGHQLHHWZDVKHUDXV]XEHNRPPHQVXFKHQZDVGX QLFKW YRQ VHOEVW VDJHQ PDJVW XQG LFK YHUVLFKHUH GLU GD LFK PLFK YROOVWlQGLJ GDUHLQ JHIJW KDEH WX PLU GHQ *HIDOOHQ XQG EHXQUXKLJHGLFKQLFKW© 6LHVDJWHGDVRKQHLKUH$UEHLW]XXQWHUEUHFKHQ XQG ZLH HV VFKLHQZLUNOLFKJDQ]UXKLJ*DQMD ZDU HUVWDXQWVFKZLHJDEHU YRUVLFKWLJHUZHLVH XQG VDK VHLQH 0XWWHU DQ LQ GHU (UZDUWXQJ GD VLH VLFK GHXWOLFKHU DXVVSUHFKHQ ZHUGH +lXVOLFKH 6]HQHQ KDWWHQ LKP VFKRQ JDU YLHO 9HUGUX JHPDFKW 1LQD $OH[DQGURZQD EHPHUNWH GLHVH YRUVLFKWLJH =XUFNKDOWXQJ XQG
IJWH PLW ELWWHUHP /lFKHOQ KLQ]X ª'X ]ZHLIHOVW LPPHU QRFK XQG JODXEVW PLU QLFKW EHXQUXKLJH GLFK QLFKW HV ZLUG NHLQH 7UlQHQ XQG NHLQH %LWWHQ PHKU JHEHQ ZLH IUKHU ZHQLJVWHQV QLFKW YRQ PHLQHU 6HLWH $OOHV ZDV LFK ZQVFKH LVW GD GX JOFNOLFKVHLQP|FKWHVWGDV ZHLW GX LFK KDEH PLFK LQ PHLQ 6FKLFNVDOJHIXQGHQXQGPHLQ+HU]ZLUGLPPHUYROO/LHEHIU GLFK VHLQ RE ZLU QXQ ]XVDPPHQ EOHLEHQ RGHU XQV WUHQQHQ 6HOEVWYHUVWlQGOLFKUHGHLFKQXULQPHLQHPHLJHQHQ1DPHQYRQ GHLQHU6FKZHVWHUNDQQVWGXQLFKWGDVVHOEHYHUODQJHQ© ª$K LPPHU ZLHGHU VLH© ULHI *DQMD LQGHP HU VHLQHU 6FKZHVWHU HLQHQVS|WWLVFKHQKDHUIOOWHQ%OLFN]XZDUI ª0DPDFKHQLFK VFKZ|UH,KQHQQRFKPDOVZRUDXILFK,KQHQVFKRQIUKHUPHLQ :RUW JHJHEHQ KDEH QLH VROO MHPDQG ZDJHQ VLFK ,KQHQ JHJHQEHU HWZDV KHUDXV]XQHKPHQ VRODQJH LFK KLHU ELQ VRODQJHLFKDP/HEHQELQ8PZHQHVVLFKDXFKKDQGHOQPDJ LFKZHUGHVWHWVGDUDXIEHVWHKHQGDMHGHUGHUXQVHUH6FKZHOOH EHUVFKUHLWHW,KQHQPLWGHUJU|WHQ(KUHUELHWXQJEHJHJQHW© *DQMD IUHXWH VLFK VR GD HU VHLQH 0XWWHU IDVW PLW YHUV|KQOLFKHQ ]lUWOLFKHQ %OLFNHQ DQVDK ª,FK KDEH DXFK QLH HWZDVIUPHLQHHLJHQH3HUVRQJHIUFKWHW*DQMDGDVZHLWGX 1LFKW XP PHLQHWZLOOHQ KDEH LFK PLFK GLHVH JDQ]H =HLW EHXQUXKLJW XQG JHTXlOW (V KHLW KHXWH ZLUG ]ZLVFKHQ HXFK DOOHV DEJHVFKORVVHQ ZHUGHQ" :DV ZLUG GHQQ DEJHVFKORVVHQ ZHUGHQ"©ª6LHKDWYHUVSURFKHQKHXWHDEHQGEHLVLFK]X+DXVH VLFK ]X HUNOlUHQ RE VLH HLQZLOOLJW RGHU QLFKW© DQWZRUWHWH *DQMDª:LUKDEHQHVIDVWGUHL:RFKHQODQJYHUPLHGHQGDYRQ ]X VSUHFKHQ XQG GDV ZDU DXFK GDV EHVWH -HW]W GD DOOHV EHVFKORVVHQ LVW P|FKWH LFK PLU QXU GLH HLQH )UDJH HUODXEHQ ZLH NRQQWH VLH GLU LKUH (LQZLOOLJXQJ JHEHQ XQG GLU VRJDU LKU %LOG VFKHQNHQ ZHQQ GX VLH QLFKW OLHEVW" +DVW GX VLH GHQQ ZLUNOLFKHLQHVRVR©ª1DHLQHVRHUIDKUHQH3HUVRQQLFKW ZDKU"©ª,FKZROOWHPLFKQLFKWVRDXVGUFNHQ+DVWGXVLHGHQQ ZLUNOLFKELV]XGHP*UDGHYHUEOHQGHQN|QQHQ"© $XV GLHVHU )UDJH NODQJ DXI HLQPDO HLQH JURH *HUHL]WKHLW
*DQMD VWDQG HLQH :HLOH GD XQG EHUOHJWH GDQQ VDJWH HU PLW XQYHUKRKOHQHP 6SRWW ª6LH KDEHQ VLFK KLQUHLHQ ODVVHQ 0DPDFKHQXQGVLFKZLHGHUHLQPDOQLFKWEHKHUUVFKHQN|QQHQ ,QGHU$UWIDQJHQEHLXQVLPPHUDOOH*HVSUlFKHDQXQG ZHUGHQ GDQQ KLW]LJ 6LH VDJWHQ HV ZHUGH NHLQH )UDJHQ XQG NHLQH 9RUZUIH JHEHQ XQG QXQ KDEHQ 6LH GRFK VFKRQ ZLHGHU DQJHIDQJHQ /DVVHQ ZLU GHUJOHLFKHQ OLHEHU ZHJ ZLUNOLFK ODVVHQ ZLU HV ZHJ DXFK 6LH KDEHQ HV MD ZHQLJVWHQV EHDEVLFKWLJW ,FK ZHUGH 6LH QLH XQG XP NHLQHQ 3UHLV YHUODVVHQ HLQ DQGHUHU ZUGH YRU HLQHU VROFKHQ 6FKZHVWHU PLQGHVWHQVGDYRQODXIHQ±GDVHKHQ6LHQXUZLHVLHPLFKHEHQ DQEOLFNW +|UHQ ZLU DXI GDYRQ ,FK IUHXWH PLFK VFKRQ VR 8QG ZRKHU ZLVVHQ 6LH GD LFK 1DVWDVMD )LOLSSRZQD WlXVFKH" 8QG ZDV :DUMD DQODQJW VR NDQQ VLH WXQ ZDV VLH ZLOO EDVWD 1DQXQDEHUZLUNOLFKJHQXJ© *DQMDZDUEHLMHGHP:RUWHKLW]LJHUJHZRUGHQXQGJLQJQXQ ]LHOORV LP =LPPHU XPKHU 6ROFKH *HVSUlFKH QDKPHQ LPPHU HLQH :HQGXQJ GD VLH EHL DOOHQ )DPLOLHQPLWJOLHGHUQ HLQHQ ZXQGHQ3XQNWEHUKUWHQ ª,FKKDEH JHVDJW ZHQQ VLH KLHU HLQ]LHKW ]LHKH LFK YRQ KLHU IRUW XQG LFK ZHUGH HEHQIDOOV :RUW KDOWHQ© HUNOlUWH :DUMD ª$XV (LJHQVLQQ© ULHI *DQMD ª$XV (LJHQVLQQ ZLOOVW GX DXFK QLFKWKHLUDWHQ:DUXP IDXFKVWGXPLFKVRDQ" ,FKPDFKHPLU DXV ,KQHQ QLFKW GDV JHULQJVWH :DUZDUD $UGDOLRQRZQD ZHQQ HV ,KQHQ EHOLHEW P|JHQ 6LH ,KUH $EVLFKW VRIRUW ]XU $XVIKUXQJ EULQJHQ ,FK ELQ ,KUHU VFKRQ UHFKW EHUGUVVLJ :LH 6LH HQWVFKOLHHQ VLFK HQGOLFK XQV DOOHLQ ]X ODVVHQ )UVW"©VFKULHHUGHQ)UVWHQDQDOVHUVDKGDGLHVHUVLFKYRQ VHLQHP3ODW]HUKRE $XV *DQMDV 6WLPPH NRQQWH PDQ VFKRQ MHQHQ *UDG YRQ *HUHL]WKHLW KHUDXVK|UHQ EHL GHP GHU 0HQVFK EHLQDK )UHXGH EHUVHLQHHLJHQH(UUHJXQJHPSILQGHWXQGVLFKGLHVHP*HIKO RKQHMHGHQZHLWHUHQ9HUVXFKGHU6HOEVWEHKHUUVFKXQJEHUOlW QDKH]X PLW ZDFKVHQGHP *HQX PDJ QXQ GDUDXV HQWVWHKHQ
ZDV ZLOO 'HU )UVW VFKRQ LQ GHU 7U GUHKWH VLFK XP XP HWZDV ]X HUZLGHUQ DEHU DOV HU DQ GHP NUDQNKDIW HUUHJWHQ *HVLFKWVDXVGUXFNVHLQHV%HOHLGLJHUVVDKGDKLHUQXUQRFKGHU OHW]WH7URSIHQIHKOWHGHUGDV*HIl]XPhEHUODXIHQEULQJWGD ZDQGWHHUVLFKZLHGHUXPXQGJLQJVFKZHLJHQGKLQDXV(LQLJH 6HNXQGHQ GDUDXI K|UWH HU DQ GHQ 6WLPPHQ GLH DXV GHP :RKQ]LPPHU KHUDXVW|QWHQ GD GDV *HVSUlFK QDFK VHLQHP :HJJDQJHQRFKOlUPHQGHUXQGUFNVLFKWVORVHUJHZRUGHQZDU (UJLQJGXUFKGDV:RKQ]LPPHULQV9RU]LPPHUXPDXIGHQ .RUULGRU XQG DXV GLHVHP LQ VHLQ =LPPHU ]X JHODQJHQ $OV HU GLFKWEHLGHUQDFKGHU7UHSSHIKUHQGHQ7UYRUEHLNDPK|UWH XQG VDK HU GD DXI GHU DQGHUQ 6HLWH GHU 7U VLFK MHPDQG DXV DOOHU .UDIW EHPKWH ]X NOLQJHOQ GLH .OLQJHO DEHU DQ GHU RIIHQEDUHWZDVLQ8QRUGQXQJZDU]LWWHUWHQXUXQGJDENHLQHQ 7RQ'HU)UVWVFKREGHQ5LHJHO]XUFN|IIQHWHGLH7UXQG± SUDOOWH HUVWDXQW DP JDQ]HQ /HLEH ]LWWHUQG ]XUFN YRU LKP VWDQG 1DVWDVMD )LOLSSRZQD (U HUNDQQWH VLH VRIRUW QDFK LKUHP %LOG,KUH$XJHQIXQNHOWHQYRUbUJHUDOVVLHLKQHUEOLFNWHVLH WUDW LKQ PLW GHU 6FKXOWHU EHLVHLWH VWRHQG VFKQHOO LQV 9RU]LPPHU XQG VDJWH ]RUQLJ ZlKUHQG VLH LKUHQ 3HO] DEZDUI ª:HQQGX]XIDXOELVWGLH.OLQJHOLQ2UGQXQJ]XEULQJHQVR VROOWHVW GX ZHQLJVWHQV LP 9RU]LPPHU VLW]HQ XP ]X K|UHQ ZHQQ MHPDQG NORSIW 1D XQG QXQ KDW HU GHQ 3HO] KLQIDOOHQ ODVVHQGHU7|OSHO© 'HU 3HO] ODJ LQ GHU 7DW DXI GHP )XERGHQ 1DVWDVMD )LOLSSRZQD KDWWH QLFKW DEJHZDUWHW GD GHU )UVW LKQ LKU DEQDKP VRQGHUQ LKQ LKP VHOEVW RKQH VLFK XP]XVHKHQ QDFK KLQWHQ LQ GLH +lQGH ZHUIHQ ZROOHQ DEHU GHU )UVW KDWWH QLFKW =HLW JHKDEW LKQ DXI]XIDQJHQ ª:HJJHMDJW VROOWHVW GX ZHUGHQ *HKXQGPHOGHPLFK© 'HU)UVWZROOWHHWZDVVDJHQZDUDEHUVRIDVVXQJVORVGDHU QLFKWVKHUDXVEUDFKWHXQGPLWGHP3HO]GHQHUYRP)XERGHQ DXIJHKREHQKDWWHQDFKGHP6DORQ]XJLQJ ª1DMHW]W]LHKWHU JDU PLW GHP 3HO] ORV :R]X QLPPVW GX GHQQ GHQ 3HO] PLW"
+DKDKD%LVWZRKOYHUUFNWZLH"© 'HU)UVWNHKUWHXPXQGEOLFNWHVLHJDQ]YHUVW|UWDQDOVVLH DXIODFKWH OlFKHOWH HU HEHQIDOOV ZDU DEHU LPPHU QRFK QLFKW LPVWDQGHGLH=XQJH]XEHZHJHQ,PHUVWHQ$XJHQEOLFNDOVHU LKU GLH 7U JH|IIQHW KDWWH ZDU HU EOD JHZHVHQ MHW]W DEHU ZXUGH VHLQ *HVLFKW SO|W]OLFK YRQ GXQNOHU 5|WH EHUJ|VVHQ ª1HLQ ZDV IU HLQ ,GLRW© ULHI 1DVWDVMD )LOLSSRZQD XQZLOOLJ XQGVWDPSIWHPLWGHP)Xª1DZRKLQJHKVWGXQXQ"1DZHQ PHOGHVW GX"© ª1DVWDVMD )LOLSSRZQD© PXUPHOWH GHU )UVW ª:RKHU NHQQVW GX PLFK"© IUDJWH VLH VFKQHOO ª,FK KDEH GLFK QLHJHVHKHQ*HKXQGPHOGHPLFK:DVLVWGHQQGDIUHLQ *HVFKUHL"© ª6LH ]DQNHQ VLFK© DQWZRUWHWH GHU )UVW XQG JLQJ QDFKGHP6DORQ (UWUDWJHUDGHLQHLQHPUHFKWNULWLVFKHQ$XJHQEOLFNHLQ1LQD $OH[DQGURZQD ZDU DXI GHP 3XQNW YROOVWlQGLJ ]X YHUJHVVHQ GD VLH VLFK ªLQ DOOHV JHIJW© KDWWH VLH ZDU EULJHQV GDEHL :DUMDV 9HUKDOWHQ ]X YHUWHLGLJHQ 3WL]\Q GHU VHLQHQ PLW %OHLVWLIW EHVFKULHEHQHQ =HWWHO EHLVHLWH JHWDQ KDWWH ZDU HEHQIDOOVDXI:DUMDV6HLWHJHWUHWHQ$XFK:DUMDVHOEVWEHZLHV 0XWZLHVLHEHUKDXSWJDQ]XQGJDUNHLQIHLJHV0lGFKHQZDU GLH *UREKHLWHQ LKUHV %UXGHUV DEHU ZXUGHQ PLW MHGHP :RUWH GDVHUVSUDFKlUJHUXQGXQHUWUlJOLFKHU,QVROFKHQ)lOOHQK|UWH VLH JHZ|KQOLFK DXI ]X VSUHFKHQ XQG ULFKWHWH QXU VFKZHLJHQG LKUHVS|WWLVFKHQXQYHUZDQGWHQ %OLFNHDXIGHQ %UXGHU 'LHVHV %HQHKPHQ KDWWH ZLH VLH ZXWH GLH :LUNXQJ LKQ DOOH 6FKUDQNHQYHUJHVVHQ]XODVVHQ *HUDGH LQ GLHVHP $XJHQEOLFN WUDWGHU)UVWLQV=LPPHUXQGULHIª1DVWDVMD)LOLSSRZQD©
,; (LQ DOOJHPHLQHV 6WLOOVFKZHLJHQ IROJWH DOOH EOLFNWHQ GHQ )UVWHQDQZLHZHQQVLHLKQQLFKWUHFKWYHUVWDQGHQKlWWHQXQG QLFKWYHUVWHKHQZROOWHQ*DQMDZDUYRU6FKUHFNJDQ]VWDUU 'LH$QNXQIW1DVWDVMD)LOLSSRZQDVXQGGD]XQRFKLQGLHVHP $XJHQEOLFN ZDU IU DOOH HLQH VHKU VHOWVDPH EHVRUJQLVHUUHJHQGH hEHUUDVFKXQJ 6FKRQ DOOHLQ GHU 8PVWDQG GD1DVWDVMD)LOLSSRZQD]XPHUVWHQ0DOHKLQNDPELVKHUKDWWH VLH VLFK VR KRFKPWLJ EHQRPPHQ GD VLH LQ GHQ *HVSUlFKHQ PLW *DQMD QLFKW HLQPDO GHQ :XQVFK PLW VHLQHQ $QJHK|ULJHQ EHNDQQW]XZHUGHQDXVJHVSURFKHQXQGLQGHUOHW]WHQ=HLWLKUHU EHUKDXSWQLHPHKU(UZlKQXQJJHWDQKDWWHDOVREVLHJDUQLFKW DXI GHU :HOW ZlUHQ *DQMD ZDU ]ZDU ]XP 7HLO IURK GDUEHU GD LKP GLHVHV IU LKQ VR PLOLFKH 7KHPD HUVSDUW EOLHE LP VWLOOHQDEHUNUHLGHWHHULKUGLHVHQ+RFKPXWGRFKDQ-HGHQIDOOV KlWWH HU YRQ LKUHU 6HLWH HKHU 6SRWWUHGHQ XQG 6WLFKHOHLHQ EHU VHLQH )DPLOLH DOV HLQHQ %HVXFK EHL GHUVHOEHQ HUZDUWHW HU ZXWH ]XYHUOlVVLJ GD LKU DOOHV EHNDQQW ZDU ZDV EHL LKP ]X +DXVHDQOlOLFKVHLQHU%HZHUEXQJXPLKUH+DQGYRUJLQJXQG GD VLH VLFK NHLQHQ ,OOXVLRQHQ GDUEHU KLQJDE ZLH VHLQH $QJHK|ULJHQ EHU VLH GDFKWHQ ,KU %HVXFK MHW]W QDFK GHU 6FKHQNXQJ GHV %LOGHV XQG DQ LKUHP *HEXUWVWDJH DQ GHP VLH VHLQ 6FKLFNVDO ]X HQWVFKHLGHQ YHUVSURFKHQ KDWWH VFKOR HLJHQWOLFKVFKRQEHLQDKHGLH(QWVFKHLGXQJVHOEVWLQVLFK 'LH 9HUVWlQGQLVORVLJNHLW PLW GHU DOOH GHQ )UVWHQ DQVDKHQ GDXHUWH QLFKW ODQJH 1DVWDVMD )LOLSSRZQD HUVFKLHQ LQ HLJHQHU 3HUVRQ LQ GHU 7U GHV 6DORQV XQG VFKRE ZLHGHU EHLP (LQWULWW LQV =LPPHU GHQ )UVWHQ PLW HLQHP OHLFKWHQ 6WR EHLVHLWH ª(QGOLFK LVW HV PLU JHOXQJHQ KHUHLQ]XNRPPHQ :DUXP ELQGHQ 6LH GHQQ ,KUH .OLQJHO IHVW"© IUDJWH VLH PXQWHU XQG UHLFKWH *DQMD GHU HLOLJ ]X LKU KLQVWU]WH GLH +DQG ª:DUXP PDFKHQ 6LH GHQQ HLQ VR EHWUEWHV *HVLFKW" %LWWH PDFKHQ 6LH
PLFKGRFKEHNDQQW© *DQMD GHU JDQ] GLH %HVLQQXQJ YHUORUHQ KDWWH VWHOOWH VLH ]XHUVW VHLQHU 6FKZHVWHU :DUMD YRU XQG GLH EHLGHQ )UDXHQ PDHQ HLQDQGHU EHYRU VLH VLFK GLH +lQGH UHLFKWHQ PLW VRQGHUEDUHQ%OLFNHQ1DVWDVMD)LOLSSRZQDODFKWHEULJHQVXQG VSLHOWHGLH+HLWHUH:DUMDGDJHJHQZROOWHVLFKQLFKWYHUVWHOOHQ XQG EOLFNWH GVWHU XQG VWDUU QLFKW HLQPDO HLQH 6SXU YRQ /lFKHOQZLHHVVFKRQGLHHLQIDFKH+|IOLFKNHLWYHUODQJW]HLJWH VLFK DXI LKUHP *HVLFKW *DQMD IXKU HUVFKURFNHQ ]XVDPPHQ VHLQH6FKZHVWHU]XELWWHQGD]XZDUHV]XVSlW VR ZDUI HU LKU GHQQHLQHQVRGURKHQGHQ%OLFN]XGDVLHEHJULIIZDVGLHVHU $XJHQEOLFNIULKUHQ%UXGHUEHGHXWHWH'D HQWVFKORVLHVLFK ZLH HV VFKLHQ LKP QDFK]XJHEHQ XQG OlFKHOWH 1DVWDVMD )LOLSSRZQDHLQJDQ]NOHLQZHQLJDQ,Q*UXQGHOLHEWHQLQGHU )DPLOLH DOOH HLQDQGHU GRFK QRFK 1LQD $OH[DQGURZQD YHUEHVVHUWH GLH 6LWXDWLRQ HLQ ELFKHQ VLH KDWWH GHU Y|OOLJ YHUZLUUWH *DQMD HUVW QDFK VHLQHU 6FKZHVWHU YRUJHVWHOOW XQG GDEHL VRJDU VHLQH 0XWWHU ]X 1DVWDVMD )LOLSSRZQD KLQJHIKUW VWDWW XPJHNHKUW $EHU NDXP KDWWH 1LQD $OH[DQGURZQD DQJHIDQJHQYRQLKUHUªJDQ]EHVRQGHUHQ)UHXGH©]XUHGHQDOV 1DVWDVMD )LOLSSRZQD RKQH ZHLWHU ]X]XK|UHQ VLFK VFKQHOO ]X *DQMD ZDQGWH XQG ZlKUHQG VLH XQDXIJHIRUGHUW DXI HLQHP NOHLQHQ 6RID LQ GHU (FNH DP )HQVWHU 3ODW] QDKP LKP ]XULHI ª:R LVW GHQQ ,KU $UEHLWV]LPPHU" 8QG XQG ZR VLQG ,KUH 8QWHUPLHWHU"6LHJHEHQMDZRKO=LPPHUDE"© *DQMDZXUGHGXQNHOURWXQGEHJDQQHLQH$QZRUW]XVWRWWHUQ DEHU1DVWDVMD)LOLSSRZQDIJWHVRJOHLFKKLQ]Xª:RKDEHQ6LH GHQQKLHUQRFK5DXPXP8QWHUPLHWHU]XKDOWHQ"6LHKDEHQMD QLFKW HLQPDO HLQ HLJHQHV =LPPHU ,VW GHQQ GDV :HLWHUYHUPLHWHQ HLQWUlJOLFK"© ZDQGWH VLH VLFK SO|W]OLFK DQ 1LQD$OH[DQGURZQDª(VPDFKWHLQLJH0KHXQG8PVWlQGH© DQWZRUWHWH GLHVH ª1DWUOLFK PX HV DXFK HWZDV HLQEULQJHQ :LUVLQGLQGHVVHQHEHQHUVW±© $EHU1DVWDVMD)LOLSSRZQDK|UWHVLHZLHGHUQLFKW]X(QGHVLH
EOLFNWH *DQMD DQ ODFKWH XQG ULHI ª1HLQ ZDV PDFKHQ 6LH QXU IU HLQ *HVLFKW" 2 PHLQ *RWW ZDV PDFKHQ 6LH LQ GLHVHP $XJHQEOLFNIUHLQ*HVLFKW© 'LHVHV/DFKHQGDXHUWHHLQLJH6HNXQGHQ*DQMDV*HVLFKWVDK DOOHUGLQJV DUJ HQWVWHOOW DXV GLH 6WDUUKHLW XQG GLH NRPLVFKH lQJVWOLFKH )DVVXQJVORVLJNHLW ZDUHQ ]ZDU YRQ LKP JHZLFKHQ DEHU HU ZDU VFKUHFNOLFK EOD JHZRUGHQ VHLQH /LSSHQ KDWWHQ VLFK NUDPSIKDIW YHU]RJHQ XQG HU EOLFNWH VFKZHLJHQG IRUVFKHQG XQG PLW HLQHP E|VHQ $XVGUXFN XQYHUZDQGW VHLQHU %HVXFKHULQLQV*HVLFKWGLHLPPHUQRFKIRUWIXKU]XODFKHQ (VZDUQRFKHLQ%HREDFKWHUGDGHUVLFKHEHQIDOOVQRFKQLFKW KDWWH YRQ GHU %HWlXEXQJ IUHL PDFKHQ N|QQHQ GLH LKQ EHL 1DVWDVMD )LOLSSRZQDV $QEOLFN EHUNRPPHQ KDWWH DEHU REJOHLFKHULPPHUQRFKZLHHLQH%LOGVlXOHDQVHLQHPIUKHUHQ 3ODW] LQ GHU 7U GHV 6DORQV VWDQG KDWWH HU GRFK EHPHUNW ZLH *DQMDEODZXUGHXQGVHLQ*HVLFKWHLQHQE|VDUWLJHQ$XVGUXFN DQQDKP %HLQDKH HUVFKURFNHQ GDUEHU WUDW HU SO|W]OLFK XQZLOONUOLFKYRUª7ULQNHQ6LH:DVVHU©IOVWHUWHHU*DQMD]X XQGEOLFNHQ6LHQLFKWVR© (V ZDU NODU GD HU GDV RKQH DOOHQ 9RUEHGDFKW RKQH MHGH EHVRQGHUH $EVLFKWQXUVRLPHUVWHQ ,PSXOV JHVDJWKDWWHDEHU VHLQH:RUWHEUDFKWHQHLQHJDQ]PHUNZUGLJH:LUNXQJKHUYRU *DQMDVJDQ]H:XWVFKLHQVLFKDXIHLQPDOJHJHQGHQ)UVWHQ]X ULFKWHQ HU IDWH LKQ DQ GHU 6FKXOWHU XQG EOLFNWH LKQ VFKZHLJHQG UDFKVFKWLJ XQG KDHUIOOW DQ ZLH ZHQQ HU QLFKW LPVWDQGH ZlUH HLQ :RUW KHUDXV]XEULQJHQ (V HQWVWDQG HLQH DOOJHPHLQH %HZHJXQJ 1LQD $OH[DQGURZQD VWLH VRJDU HLQHQ OHLVHQ 6FKUHL DXV 3WL]\Q WUDW EHXQUXKLJW HLQLJH 6FKULWWH YRU .ROMDXQG)HUG\VFKWVFKHQNRGLHLQGHU7UHUVFKLHQHQZDUHQ EOLHEHQHUVWDXQWVWHKHQQXU:DUMDEHKLHOWLKUHQILQVWHUHQ%OLFN XQYHUlQGHUW EHL EHREDFKWHWH DEHU DXIPHUNVDP ZDV YRUJLQJ 6LH KDWWH VLFK QLFKW KLQJHVHW]W VRQGHUQ VWDQG VHLWZlUWV QHEHQ GHU0XWWHUGLH$UPHEHUGHU%UXVWYHUVFKUlQNW *DQMD JHZDQQ MHGRFK VFKQHOO GLH +HUUVFKDIW EHU VLFK
]XUFNXQPLWWHOEDUQDFKGHPHUVLFKVRKDWWHKLQUHLHQODVVHQ XQG ODFKWH QHUY|V DXI (U ZDU QXQ YROOVWlQGLJ ZLHGHU ]X VLFK JHNRPPHQ ª-D )UVW VLQG 6LH GHQQ HLQ $U]W"© ULHI HU LQ P|JOLFKVW KHLWHUHP WUHXKHU]LJHP 7RQH ª6LH KDEHQ PLFK JHUDGH]X HUVFKUHFNW 1DVWDVMD )LOLSSRZQD LFK P|FKWH ,KQHQ GD GLHVHQ JDQ] N|VWOLFKHQ 0HQVFKHQ HPSIHKOHQ REZRKO LFK VHOEVWLKQHUVWVHLWKHXWHPRUJHQNHQQH© 1DVWDVMD)LOLSSRZQDEOLFNWHGHQ)UVWHQYHUZXQGHUWDQª(LQ )UVW" (U LVW )UVW" 'HQNHQ 6LH QXU LFK KDEH LKQ YRUKLQ LP 9RU]LPPHUIUHLQHQ%HGLHQWHQJHKDOWHQXQGLKQKHUJHVFKLFNW XPPLFKDQ]XPHOGHQ +DKDKD© ª'DV WXW MD QLFKWV GDV WXW MD QLFKWV©ILHO)HUG\VFKWVFKHQNRHLQGHUHLOLJQlKHUWUDWXQGVLFK IUHXWHGDPDQ]XODFKHQDQILQJ ª'DVWXWMDQLFKWVVHQRQN YHUR © ª8QG LFK KlWWH 6LH EHLQDKH QRFK DXVJHVFKLPSIW )UVW%LWWHYHU]HLKHQ6LHPLU$EHU)HUG\VFKWVFKHQNRZLH NRPPW HV GHQQ GD 6LH ]X GLHVHU 7DJHV]HLW KLHU VLQG" ,FK GDFKWH 6LH ZUGH LFK KLHU JHZL QLFKW WUHIIHQ :HU LVW GHU +HUUQXQ":DVIUHLQ)UVW"0\VFKNLQ"©IUDJWHVLH*DQMDGHU LKU LQ]ZLVFKHQ GHQ )UVWHQ GHQ HU QRFK LPPHU DQ GHU 6FKXOWHU JHIDW KLHOW YRUJHVWHOOW KDWWH ª8QVHU 8QWHUPLHWHU© ZLHGHUKROWH*DQMD 6LH ZDUHQ RIIHQEDU EHPKW GHQ )UVWHQ DOV HLQH $UW YRQ VHOWHQHU.XULRVLWlWKLQ]XVWHOOHQDOOHVDKHQGDULQHLQHQ$XVZHJ DXV GHU XQHUTXLFNOLFKHQ 6LWXDWLRQ XQG VFKREHQ LKQ I|UPOLFK ]X1DVWDVMD)LOLSSRZQDKLQGHU)UVWK|UWHVRJDUGHXWOLFKGDV :RUW ª,GLRW© GDV MHPDQG ZDKUVFKHLQOLFK )HUG\VFKWVFKHQNR KLQWHU VHLQHP 5FNHQ ]XU (UNOlUXQJ IU 1DVWDVMD )LOLSSRZQD IOVWHUWHª6DJHQ6LHZDUXPKDEHQ6LHPLFKGHQQYRUKLQQLFKW DXIJHNOlUWDOVLFKPLFKLQ,KQHQVRVFKUHFNOLFKLUUWH"©IUDJWH 1DVWDVMD )LOLSSRZQD ZHLWHU XQG PXVWHUWH GHQ )UVWHQ YRP .RSI ELV ]X GHQ )HQ LQ GHU XQJHQLHUWHVWHQ :HLVH 6LH ZDUWHWHXQJHGXOGLJ DXI VHLQH $QWZRUW DOV ZlUH VLH LP YRUDXV
LWDO ZHQQHVDXFKQLFKWZDKULVW
Y|OOLJ EHU]HXJW GD GLH $QWZRUW XQIHKOEDU VR GXPP VHLQ ZHUGH GD VLH GDUEHU ZHUGH ODFKHQ PVVHQ ª,FK ZDU HUVWDXQW 6LH VR SO|W]OLFK YRU PLU ]X VHKHQ © PXUPHOWH GHU )UVW ª$EHU ZRKHU ZXWHQ 6LH GHQQ GD LFK HV ZDU" :R KDEHQ 6LH PLFK IUKHU JHVHKHQ" :LH JHKW HV QXU ]X PLU LVW WDWVlFKOLFK DOV KlWWH LFK LKQ VFKRQ LUJHQGZR JHVHKHQ 8QG JHVWDWWHQ6LHGLH)UDJHZDUXPEOLHEHQ6LHYRUKLQVRVWDUUDXI ,KUHP)OHFNVWHKHQ":DVKDEHLFKGHQQDQPLUGDVHLQHVROFKH :LUNXQJ KHUYRUEULQJHQ N|QQWH"© ª1XQ ORV /RV© WULHE )HUG\VFKWVFKHQNR GHU IRUWIXKU *HVLFKWHU ]X VFKQHLGHQ GHQ )UVWHQ DQ ª/RV GRFK 2 PHLQ *RWW ZDV IU VFK|QH 'LQJH ZUGH LFK DXI HLQH VROFKH )UDJH DQWZRUWHQ 1XQ ORV GRFK :HQQ6LHGDQLFKWUHGHQVLQG6LHMDGHUUHLQH7|OSHO)UVW© ª$XFK LFK ZUGH HLQH 0HQJH UHGHQ ZHQQ LFK 6LH ZlUH© DQWZRUWHWH GHU )UVW ODFKHQG ª,KU %LOG GDV LFK YRU NXU]HP VDKKDWDXIPLFKHLQHQVWDUNHQ(LQGUXFNJHPDFKW©IXKUHU]X 1DVWDVMD )LOLSSRZQD JHZHQGHW IRUW ª'DQQ KDEH LFK PLW -HSDQWVFKLQV YRQ ,KQHQ JHVSURFKHQ XQG VFKRQ KHXWH IUK QRFK HKH LFK LQ 3HWHUVEXUJ DQNDP KDW PLU 3DUIHQ 5RJRVKLQ YLHO YRQ ,KQHQ HU]lKOW *HUDGH LQ GHP $XJHQEOLFN DOV LFK ,KQHQGLH7U|IIQHWHKDWWHLFKDQ6LHJHGDFKWXQGGDVWDQGHQ 6LHSO|W]OLFKYRUPLU©ª$EHUZRKHUZXWHQ6LHGHQQZHULFK ZDU"© ª1DFK GHP %LOG XQG © ª8QG ZRKHU QRFK"© ª$XHUGHP GHVZHJHQ ZHLO LFK 6LH PLU JHUDGH VR YRUJHVWHOOW KDEH $XFK PLU LVW DOV KlWWH LFK 6LH VFKRQ LUJHQGZR JHVHKHQ© ª:RGHQQ":RGHQQ"© ª,FKKDEHGLH(PSILQGXQJ DOV KlWWH LFK ,KUH $XJHQ VFKRQ HLQPDO LUJHQGZR JHVHKHQ DEHU HV LVW XQP|JOLFK ,FK ELOGH HV PLU QXU HLQ ,FK ELQ QLH KLHU JHZHVHQ 9LHOOHLFKW GD LFK LP 7UDXPH © ª%UDYR )UVW©ULHI)HUG\VFKWVFKHQNRª1HLQLFKQHKPHPHLQVHQRQH YHUR]XUFNhEULJHQVEULJHQVVDJWHUGDVMDDOOHVLQUHLQHU 8QVFKXOG©IJWHHUEHGDXHUQGKLQ]X 'HU )UVW KDWWH MHQH ZHQLJHQ 6lW]H PLW XQUXKLJHU 6WLPPH JHVSURFKHQ PHKUIDFK VWRFNHQG XQG KlXILJ GD]ZLVFKHQ $WHP
KROHQG 6HLQ JDQ]HV :HVHQ EHNXQGHWH HLQH KRFKJUDGLJH (UUHJXQJ1DVWDVMD)LOLSSRZQDEOLFNWHLKQQHXJLHULJDQODFKWH DEHUQLFKWPHKU,QGLHVHP$XJHQEOLFNHUW|QWHSO|W]OLFKKLQWHU GHU *UXSSH GLH GLFKW JHVFKDUW XP GHQ )UVWHQ XQG 1DVWDVMD )LOLSSRZQD KHUXPVWDQG HLQH QHXH NUlIWLJH 6WLPPH VFKRE VR]XVDJHQ GLH *UXSSH LQ ]ZHL +lOIWHQ DXVHLQDQGHU XQG VFKXI LQ LKU HLQH *DVVH 9RU 1DVWDVMD )LOLSSRZQD VWDQG GDV 2EHUKDXSW GHU )DPLOLH VHOEVW *HQHUDO ,ZROJLQ (U KDWWH GHQ )UDFN XQG HLQ UHLQHV 9RUKHPG DQJHOHJW XQG VLFK GHQ 6FKQXUUEDUWIULVFKJHIlUEW 'DVZDUPHKUDOV*DQMDHUWUDJHQNRQQWH6HOEVWVFKWLJXQG HLWHOELV]XU1HUYRVLWlWELV]XU+\VWHULHKDWWHHUGLHVHJDQ]HQ ]ZHL 0RQDWH QDFK 0LWWHOQ JHVXFKW VLFK HLQ DQVWlQGLJHUHV YRUQHKPHUHV 5HQRPPHH ]X JHEHQ (U IKOWH GD HU DXI GHP JHZlKOWHQ :HJH QRFK HLQ 1HXOLQJ ZDU XQG YLHOOHLFKW QLFKW LPVWDQGH VHLQ ZHUGH LKQ GDXHUQG HLQ]XKDOWHQ ,Q VHLQHU 9HU]ZHLIOXQJ ZDU HU VFKOLHOLFK GD]X JHODQJW EHL VLFK ]X +DXVH ZR HU GHU UHLQH 'HVSRW ZDU VLFK JDQ] EUXWDO ]X EHQHKPHQ ZDJWH GLHV DEHU QLFKW LQ *HJHQZDUW 1DVWDVMD )LOLSSRZQDV ]X WXQ GLH LKQ ELV ]X GLHVHP $XJHQEOLFN LPPHU LQ 9HUZLUUXQJ JHVHW]W XQG HUEDUPXQJVORV W\UDQQLVLHUW KDWWH (LQHQªXQJHGXOGLJHQ%HWWOHU©KDWWHVLHVHOEVWLKQJHQDQQWHLQH %H]HLFKQXQJ GLH LKP KLQWHUEUDFKW ZRUGHQ ZDU XQG HU KDWWH VLFK KRFK XQG KHLOLJ JHVFKZRUHQ LKU GDV DOOHV VSlWHU HLQPDO KHLP]X]DKOHQ REZRKO HU JOHLFK]HLWLJ PDQFKPDO NLQGOLFK GDYRQ JHWUlXPW KDWWH DOOHV LQ 2UGQXQJ ]X EULQJHQ XQG DOOH *HJHQVlW]H]XYHUV|KQHQ6RVWDQGGLH6DFKHXQGQXQPXWH HU MHW]W QRFK GLHVHQ VFKUHFNOLFKHQ %HFKHU OHHUHQ XQG QRFK GD]X JHUDGH LQ HLQHP VROFKHQ $XJHQEOLFN (LQH XQYRUKHUJHVHKHQH DEHU IU HLQHQ HLWOHQ 0HQVFKHQ JDQ] EHVRQGHUV IXUFKWEDUH )ROWHU VROOWH HU HUGXOGHQ GLH 4XDO IU VHLQH $QJHK|ULJHQ LP HLJHQHQ +DXVH HUU|WHQ ]X PVVHQ ,Q GLHVHP$XJHQEOLFNJLQJLKPGHU*HGDQNHGXUFKGHQ.RSI¾,VW GHQQEHUKDXSWGHULQ$XVVLFKWVWHKHQGH3UHLVDOOGLHVH0KH
XQGGLHVH6FKPHU]HQZHUW"½ -HW]WYROO]RJVLFKGDVZDVLKPZlKUHQGGLHVHU]ZHL0RQDWH QXU QDFKWV LQ EHlQJVWLJHQGHQ 7UlXPHQ YRU GDV JHLVWLJH $XJH JHWUHWHQ ZDU XQG LKQ PLW HLVLJHP 6FKUHFN PLW JOKHQGHU 6FKDP HUIOOW KDWWH HV IDQG HQGOLFK LP )DPLOLHQNUHLV HLQ =XVDPPHQWUHIIHQ ]ZLVFKHQ VHLQHP 9DWHU XQG 1DVWDVMD )LOLSSRZQD VWDWW (U KDWWH PDQFKPDO LQ VS|WWLVFKHU 6HOEVWYHUK|KQXQJ YHUVXFKW HV VLFK DXV]XPDOHQ ZDV IU HLQH )LJXU GHU *HQHUDO EHL GHP 7UDXDNW PDFKHQ ZUGH KDWWH DEHU QLH YHUPRFKW VLFK GDV TXDOYROOH %LOG YROOVWlQGLJ ]X YHUJHJHQZlUWLJHQ VRQGHUQ HV LPPHU UDVFK ZLHGHU EHLVHLWH JHVFKREHQ 9LHOOHLFKW PDFKWH HU VLFK YRQ GHP LKP HUZDFKVHQGHQ 6FKDGHQ PDORV EHUWULHEHQH 9RUVWHOOXQJHQ DEHUVRJHKWHVHLWOHQ0HQVFKHQVWHWV,QGLHVHQ]ZHL0RQDWHQ KDWWH HU VLFK GLH 6DFKH EHUOHJW VHLQHQ (QWVFKOX JHIDW XQG VLFKIHVWYRUJHQRPPHQVHLQHQ9DWHUXPMHGHQ3UHLVLUJHQGZLH ZHJ]XVFKDIIHQ ZHQQ DXFK QXU DXI HLQLJH =HLW XQG LKQ ZRP|JOLFK VRJDU DXV 3HWHUVEXUJ YHUVFKZLQGHQ ]X ODVVHQ PRFKWH QXQ GLH 0XWWHU GDPLW HLQYHUVWDQGHQ VHLQ RGHU QLFKW $OV YRU ]HKQ 0LQXWHQ 1DVWDVMD )LOLSSRZQD HLQJHWUHWHQ ZDU KDWWH LKQ GDV GHUPDHQ EHUUDVFKW XQG EHWlXEW GD HU DQ GLH 0|JOLFKNHLW GHV (UVFKHLQHQV VHLQHV 9DWHUV DXI GHU %LOGIOlFKH EHUKDXSW QLFKW JHGDFKW XQG NHLQHUOHL $QRUGQXQJHQ LQ GLHVHU +LQVLFKWJHWURIIHQKDWWH8QGQXQVWDQGGHU*HQHUDODXIHLQPDO GD YRU DOOHU $XJHQ XQG QRFK GD]X LQ IHLHUOLFKHU 7RLOHWWH LP )UDFNXQGJHUDGHLQGHP$XJHQEOLFNZR1DVWDVMD)LOLSSRZQD QXU HLQH *HOHJHQKHLW VXFKWH XP LKQ XQG VHLQH $QJHK|ULJHQ PLWLKUHP6SRWW]XEHUVFKWWHQ'HQQGD GLHV LKUH $EVLFKW ZDU GDYRQ ZDU HU EHU]HXJW 8QG LQ GHU 7DW ZHOFKH DQGHUH %HGHXWXQJ KlWWH LKU MHW]LJHU %HVXFK KDEHQ N|QQHQ" :DU VLH JHNRPPHQ XP PLW VHLQHU 0XWWHU XQG PLW VHLQHU 6FKZHVWHU )UHXQGVFKDIW ]X VFKOLHHQ RGHU XP VLH LQ VHLQHP HLJHQHQ +DXVH ]X EHOHLGLJHQ" $EHU QDFK GHU +DOWXQJ GLH EHLGH 3DUWHLHQHLQJHQRPPHQKDWWHQZDUNHLQ=ZHLIHOPHKUP|JOLFK
VHLQH 0XWWHU XQG VHLQH 6FKZHVWHU VDHQ ZLH HQWHKUW DEVHLWV XQG1DVWDVMD)LOLSSRZQDVFKLHQJDQ]YHUJHVVHQ]XKDEHQGD EHLGHVLFKPLWLKULQGHPVHOEHQ=LPPHUEHIDQGHQ8QGZHQQ VLHVLFKVREHQDKPVRKDWWHVLHVLFKHUOLFKGDEHLLKUH$EVLFKW )HUG\VFKWVFKHQNRIDWHGHQ*HQHUDOEHLGHU+DQGXQGIKUWH LKQ QlKHU KHUDQ ª$UGDOLRQ $OH[DQGURZLWVFK ,ZROJLQ© VDJWH GHU*HQHUDOZUGHYROOXQGYHUEHXJWHVLFKOlFKHOQG ªHLQDOWHU XQJOFNOLFKHU 6ROGDW GHU 9DWHU GLHVHU )DPLOLH GLH VLFK JOFNOLFK IKOW LQ GHU +RIIQXQJ HLQ VR UHL]HQGHV QHXHV 0LWJOLHGLQLKUHQ6FKR±© (U NRQQWH GHQ 6DW] QLFKW ]X (QGH VSUHFKHQ )HUG\VFKWVFKHQNR VFKRE LKP VFKQHOO YRQ KLQWHQ HLQHQ 6WXKO KLQ XQG GHU *HQHUDO GHU XP GLHVH 1DFKPLWWDJVVWXQGH HWZDV XQVLFKHUDXIGHQ%HLQHQZDUVHW]WHVLFKRGHUILHOYLHOPHKUPLW GXPSIHP *HUlXVFK DXI GHQ 6WXKO QLHGHU ZDV LKQ EULJHQV QLFKW ZHLWHU YHUOHJHQ PDFKWH (U VD 1DVWDVMD )LOLSSRZQD JHUDGHJHJHQEHUXQGIKUWHPLWHLQHUDQPXWLJHQ*HElUGHLKUH IHLQHQ )LQJHU ODQJVDP XQG HIIHNWYROO DQ VHLQH /LSSHQ hEHUKDXSW ZDU HV UHFKW VFKZHU GHQ *HQHUDO LQ 9HUOHJHQKHLW ]X EULQJHQ 6HLQ bXHUHV ZDU YRQ HLQHU JHZLVVHQ 1DFKOlVVLJNHLW DEJHVHKHQ LPPHU QRFK ]LHPOLFK DQVWlQGLJ ZDV HU VHOEVW UHFKW ZRKO ZXWH (U KDWWH IUKHU *HOHJHQKHLW JHKDEWLQVHKUJXWHU*HVHOOVFKDIW]XYHUNHKUHQDXVGHUHUHUVW YRU ]ZHL GUHL -DKUHQ HQGJOWLJ DXVJHVFKORVVHQ ZRUGHQ ZDU 6HLWGHP KDWWH HU VLFK DOOHUGLQJV ZLGHUVWDQGVORV VHLQHQ 6FKZlFKHQ KLQJHJHEHQ DEHU VHLQH JHZDQGWHQ DQJHQHKPHQ 0DQLHUHQ KDWWH HU VLFK LPPHU QRFK EHZDKUW 1DVWDVMD )LOLSSRZQD VFKLHQ EHU GDV (UVFKHLQHQ $UGDOLRQ $OH[DQGURZLWVFKV EHU GHQ VLH QDWUOLFK VFKRQ PDQFKHV JHK|UWKDWWHDXHURUGHQWOLFKHUIUHXW]XVHLQª,FKKDEHJHK|UW GD PHLQ 6RKQ © EHJDQQ GHU *HQHUDO ª-D ,KU 6RKQ $EHU 6LH VLQG PLU DXFK QHWW 3DSDFKHQ :DUXP ODVVHQ 6LH VLFK QLH EHL PLU VHKHQ" 9HUVWHFNHQ 6LH VLFK VHOEVW RGHU YHUVWHFNW 6LH ,KU6RKQ"6LHZHQLJVWHQVN|QQHQGRFK]XPLU NRPPHQ RKQH
MHPDQG ]X NRPSURPLWWLHUHQ© ª'LH .LQGHU GHV QHXQ]HKQWHQ -DKUKXQGHUWV XQG LKUH 9lWHU © ILQJ GHU *HQHUDO ZLHGHU DQ ª1DVWDVMD)LOLSSRZQD©VDJWH1LQD$OH[DQGURZQDODXWªODVVHQ 6LH GRFK ELWWH PHLQHQ 0DQQ IU HLQHQ $XJHQEOLFN IRUWJHKHQ HVIUDJWMHPDQGQDFKLKP© ª)RUWJHKHQODVVHQ"$EHU LFK ELWWH 6LH LFK KDEH VR YLHO YRQ LKP JHK|UW XQG VFKRQ VR ODQJH JHZQVFKW LKQ SHUV|QOLFK NHQQHQ]XOHUQHQ 8QG ZDV NDQQ HU GHQQ]XWXQKDEHQ"(UEHILQGHWVLFKGRFKLP5XKHVWDQGH"6LH ZHUGHQPLFKGRFKQLFKWYHUODVVHQ*HQHUDOZHUGHQGRFKQLFKW IRUWJHKHQ"© ª,FK JHEH ,KQHQ PHLQ :RUW GD HU ,KQHQ EDOG HLQHQ %HVXFK PDFKHQ ZLUG DEHU MHW]W EHGDUI HU GULQJHQG GHU 5XKH© ª$UGDOLRQ $OH[DQGURZLWVFK HV ZLUG EHKDXSWHW 6LH EHGUIWHQ GULQJHQG GHU 5XKH© ULHI 1DVWDVMD )LOLSSRZQD PLW XQ]XIULHGHQHUVFKPROOHQGHU0LHQHZLHHLQODXQLVFKHVNOHLQHV 0lGFKHQ GHP PDQ VHLQ 6SLHO]HXJ ZHJQLPPW 'HU *HQHUDO EHQXW]WHGLH*HOHJHQKHLWVLFKQRFKQlPVFKHU]XJHElUGHQ ª/LHEH )UDX OLHEH )UDX© VDJWH HU YRUZXUIVYROO LQGHP HU VLFKZUGHYROO]XLKUKLQZDQGWHXQGGLH+DQGDXIV+HU]OHJWH ª:ROOHQ 6LH QLFKW KLQDXVJHKHQ 0DPDFKHQ© IUDJWH :DUMD ODXWª1HLQ:DUMDLFKZLOOELV]X(QGHKLHUEOHLEHQ© 1DVWDVMD)LOLSSRZQDPXWHGLH)UDJHXQGGLH$QWZRUWJHK|UW KDEHQDEHULKUH+HLWHUNHLWVFKLHQGDGXUFKQXUQRFKYHUJU|HUW ]X ZHUGHQ 6LH EHUVFKWWHWH GHQ *HQHUDO VRIRUW ZLHGHU PLW )UDJHQXQG IQI 0LQXWHQ GDUDXI EHIDQG VLFK GLHVHU LQ K|FKVW JHKREHQHU 6WLPPXQJ XQG HUJLQJ VLFK XQWHU GHP ODXWHQ *HOlFKWHUGHU$QZHVHQGHQLQOlQJHUHQ7LUDGHQ .ROMD ]XSIWH GHQ )UVWHQ DP 5RFNVFKR ª)KUHQ GRFK 6LH LKQZHJ'DVGDUIQLFKWVRZHLWHUJHKHQ7XQ6LHXQVGRFKGHQ *HIDOOHQ© 'HP DUPHQ -XQJHQ IXQNHOWHQ 7UlQHQ GHU (QWUVWXQJ LQ GHQ $XJHQ ª2K GHU QLFKWVZUGLJH *DQMND© IJWH HU IU VLFK KLQ]X ª0LW ,ZDQ )MRGRURZLWVFK -HSDQWVFKLQ ZDU LFK WDWVlFKOLFK HQJ EHIUHXQGHW© HUZLGHUWH GHU *HQHUDO UHGVHOLJ DXI 1DVWDVMD )LOLSSRZQDV )UDJHQ ª,FK HU XQG GHU YHUVWRUEHQH )UVW 1LNRODL /ZRZLWVFK 0\VFKNLQ GHVVHQ 6RKQ
LFKKHXWHQDFK]ZDQ]LJMlKULJHU7UHQQXQJZLHGHUXPDUPWKDEH ZLU ZDUHQ GUHL XQ]HUWUHQQOLFKH .DPHUDGHQ VR]XVDJHQ HLQH .DYDONDGH ZLH $WKRV 3RUWRV XQG $UDPLV $EHU OHLGHU OLHJW GHUHLQHYRQXQVLP*UDEHYRQ9HUOHXPGXQJHQXQGYRQHLQHU .XJHO ]X 7RGH JHWURIIHQ XQG GHU ]ZHLWH GHU KLHU YRU ,KQHQ VLW]W KDW QRFK LPPHU PLW 9HUOHXPGXQJHQ XQG .XJHOQ ]X NlPSIHQ©ª0LW.XJHOQ"©ULHI1DVWDVMD)LOLSSRZQDDXVª6LH VLW]HQKLHULQPHLQHU%UXVWLFKKDEHVLHYRU.DUVHUKDOWHQXQG EHL VFKOHFKWHU :LWWHUXQJ VSUH LFK VLH ,Q DOOHQ DQGHUHQ %H]LHKXQJHQOHEHLFKZLHHLQ3KLORVRSKJHKHVSD]LHUHQVSLHOH LQ PHLQHP &DIH 'DPH ZLH HLQ %RXUJHRLV GHU VLFK YRQ GHQ *HVFKlIWHQ ]XUFNJH]RJHQ KDW XQG OHVH GLH ¾,QGHSHQGDQFH½ $EHU PLW XQVHUHP 3RUWRV GHP *HQHUDO -HSDQWVFKLQ ELQ LFK LQIROJH HLQHU *HVFKLFKWH GLH VLFK YRU ]ZHL -DKUHQ PLW HLQHP %RORJQHVHUKQGFKHQ]XWUXJY|OOLJDXVHLQDQGHUJHNRPPHQ© ª0LW HLQHP %RORJQHVHUKQGFKHQ :LH KlQJW GHQQ GDV ]XVDPPHQ"© IUDJWH 1DVWDVMD )LOLSSRZQD lXHUVW QHXJLHULJ ª0LW HLQHP %RORJQHVHUKQGFKHQ" (UODXEHQ 6LH XQG DXI GHU (LVHQEDKQ6LHVFKLHQHWZDVLQLKUHP*HGlFKWQLV]XVXFKHQ ª2K HV LVW HLQH GXPPH *HVFKLFKWH GLH QLFKW YHUGLHQW GD PDQ VLH QRFK HLQPDO HU]lKOW (V KDQGHOW VLFK GDEHL XP HLQH 0UV6PLWKHLQH*RXYHUQDQWHGHU)UVWLQ%MHORNRQVNDMDDEHU HVORKQWQLFKWGLH0KHHV]XHU]lKOHQ© $EHU XQEHGLQJW PVVHQ 6LH HV HU]lKOHQ© ULHI 1DVWDVMD )LOLSSRZQDOXVWLJª$XFKLFKKDEHGLHVH*HVFKLFKWHQRFKQLFKW JHK|UW© EHPHUNWH )HUG\VFKWVFKHQNR ª&¶HVW GX QRXYHDX© ª$UGDOLRQ$OH[DQGURZLWVFK© ULHI 1LQD $OH[DQGURZQD ZLHGHU LQ IOHKHQGHP 7RQH ª3DSDGLHQ HV IUDJW MHPDQG QDFK ,KQHQ© VDJWH.ROMD ª(VLVWHLQHGXPPH*HVFKLFKWHXQGVLHOlWVLFK LQ ZHQLJHQ :RUWHQ HU]lKOHQ© EHJDQQ GHU *HQHUDO VHKU VHOEVW]XIULHGHQ ª9RU ]ZHL -DKUHQ MD YRU QRFK QLFKW JDQ]
'LHGUHL0XVNHWLHUHLQGHPEHNDQQWHQ5RPDQYRQ'XPDV IU] 'DVLVWHLQH1HXLJNHLW
]ZHL-DKUHQGLH(U|IIQXQJGHU QHXHQ (LVHQEDKQ KDWWH VRHEHQ VWDWWJHIXQGHQ PXWH LFK LQ HLQHU IU PLFK VHKU ZLFKWLJHQ $QJHOHJHQKHLW ± HV KDQGHOWH VLFK XP GHQ $XVWULWW DXV PHLQHU GLHQVWOLFKHQ 6WHOOXQJ ± HLQH 5HLVH PDFKHQ LFK ZDU VFKRQ LQ =LYLO XQG QDKP PLU HLQ %LOOHW HUVWHU .ODVVH ,FK VWHLJH HLQ VHW]HPLFKKLQXQGUDXFKH'DVKHLWLFKIDKUHIRUW]XUDXFKHQ DQJHVWHFNW KDWWH LFK PLU GLH =LJDUUH VFKRQ YRUKHU ,FK ZDU LQ GHP $EWHLO JDQ] DOOHLQ 'DV 5DXFKHQ LVW QLFKW YHUERWHQ DEHU DXFK QLFKW HUODXEW HV LVW VR KDOE HUODXEW XQG JHVFKLHKW EOLFKHUZHLVH QD XQG HV NRPPW DXFK DXI GLH 3HUVRQ GHV %HWUHIIHQGHQ DQ 'DV )HQVWHU ZDU KHUXQWHUJHODVVHQ 3O|W]OLFK NXU] EHYRU GLH /RNRPRWLYH SILII VWHLJHQ ]ZHL 'DPHQ PLW HLQHP %RORJQHVHUKQGFKHQ HLQ XQG VHW]HQ VLFK PLU JHUDGH JHJHQEHU VLH KDWWHQ VLFK YHUVSlWHW GLH HLQH ZDU K|FKVW HOHJDQW JHNOHLGHW LQ +HOOEODX GLH DQGHUH EHVFKHLGHQHU LQ HLQHP VFKZDU]VHLGHQHQ .OHLG PLW HLQHU 3HOHULQH 6LH ZDUHQ EHLGH KEVFK PDFKWHQ DEHU KRFKPWLJH *HVLFKWHU XQG VSUDFKHQ (QJOLVFK ,FK NPPHUWH PLFK QDWUOLFK QLFKW XP VLH XQG UDXFKWH ZHLWHU 'DV KHLW LFK GDFKWH VFKRQ GDUDQ DXI]XK|UHQ DEHU GD GDV )HQVWHU RIIHQ ZDU VR UDXFKWH LFK ZHLWHU]XP)HQVWHUKLQDXV'DV%RORJQHVHUKQGFKHQODJUXKLJ DXIGHP6FK|HGHUKHOOEODXHQ'DPHHVZDUHLQNOHLQHV7LHU VR JUR ZLH PHLQH )DXVW VFKZDU] PLW ZHLHQ 3IRWHQ JHUDGH]X HLQH 6HOWHQKHLW HV WUXJ HLQ VLOEHUQHV +DOVEDQG PLW HLQHU ,QVFKULIW GDUDXI ,FK NPPHUH PLFK XP QLFKWV PHUNH DEHUGDGLH'DPHQVLFKlUJHUQRIIHQEDUEHUPHLQH=LJDUUH 'LHHLQHVWDUUWHPLFKGXUFKLKUHVFKLOGSDWWQH/RUJQHWWHDQ,FK EOLHEGDEHLPLFKQLFKWXPVLH]XNPPHUQGHQQVLHVDJWHQMD NHLQ:RUW]XPLU6LHKlWWHQGRFKUHGHQPLFKHUVXFKHQPLFK ELWWHQ N|QQHQ ZR]X KDW GHU 0HQVFK GHQQ VFKOLHOLFK VHLQH =XQJH" $EHU QHLQ VLH VFKZHLJHQ $XI HLQPDO ± XQG ]ZDU ZLH LFK ,KQHQ VDJH RKQH GLH JHULQJVWH GDV KHLW RKQH GLH DOOHUJHULQJVWH YRUKHUJHKHQGH %HPHUNXQJ JDQ] ZLH ZHQQ VLH YRQ 6LQQHQ JHNRPPHQ ZlUH ± UHLW PLU GLH +HOOEODXH GLH
=LJDUUH DXVGHU+DQGXQGZLUIWVLHDXVGHP )HQVWHU 'HU =XJ VDXVWGDKLQLFKZXWH JDUQLFKWZLHPLU JHVFKHKHQZDU'DV PX HLQ WROOHV )UDXHQ]LPPHU JHZHVHQ VHLQ HLQ WROOHV )UDXHQ]LPPHUYRQHLQHUJDQ]WROOHQ6RUWHLPEULJHQZDUHV HLQ VWDWWOLFKHV :HLE SSLJ KRFKJHZDFKVHQ EORQG PLW URWHQ IDVW]XURWHQ %DFNHQXQGLKUH$XJHQIXQNHOWHQPLFKQXUVR DQ2KQHHLQ:RUW]XVDJHQQlKHUHLFKPLFKPLWGHU JU|WHQ +|IOLFKNHLW PLW GHU YROOHQGHWVWHQ +|IOLFKNHLW VR]XVDJHQ PLW GHUUDIILQLHUWHVWHQ+|IOLFKNHLWGHP%RORJQHVHUKQGFKHQIDVVH HV JDQ] EHKXWVDP PLW ]ZHL )LQJHUQ DP *HQLFN XQG ZHUIH HV GHU=LJDUUHQDFKDXVGHP )HQVWHU(VZLQVHOWHQXUHLQ ZHQLJ 'HU =XJ VDXVWH ZHLWHU© ª6LH VLQG HLQ 8QPHQVFK© ULHI 1DVWDVMD )LOLSSRZQD ODFKHQG XQG NODWVFKWH ZLH HLQ NOHLQHV 0lGFKHQ LQ GLH +lQGH ª%UDYR EUDYR© ULHI )HUG\VFKWVFKHQNR $XFK 3WL]\Q GHP GDV (UVFKHLQHQ GHV *HQHUDOV JOHLFKIDOOV VHKU XQDQJHQHKP JHZHVHQ ZDU OlFKHOWH VRJDU.ROMDODFKWHXQG ULHI HEHQIDOOV ª%UDYR© ª8QG LFK ZDU LP 5HFKW LFK ZDU LP 5HFKW GXUFKDXV LP 5HFKW© IXKU GHU WULXPSKLHUHQGH *HQHUDO HLIULJ IRUW ª'HQQ ZHQQ GDV 5DXFKHQ DXI GHU %DKQ YHUERWHQ LVW VR LVW GDV 0LWQHKPHQ YRQ +XQGHQ QRFK ZHLW PHKU YHUERWHQ© ª%UDYR 3DSD© ULHI .ROMD JDQ] HQW]FNW ª*URDUWLJ ,FK KlWWH HV XQEHGLQJW HEHQVR JHPDFKW XQEHGLQJW© ª$EHU ZDV WDW GHQQ QXQ GLH 'DPH"© IUDJWH 1DVWDVMD )LOLSSRZQD XQJHGXOGLJ ª'LH" -D GDV LVW QXQ HEHQ GDV 8QDQJHQHKPH EHL GHU *HVFKLFKWH© IXKU GHU *HQHUDO VWLUQUXQ]HOQGIRUWª2KQHHLQ:RUW]XVDJHQRKQHYRUKHUDXFK QXUGLHJHULQJVWH$QGHXWXQJ]XPDFKHQYHUVHW]WHVLHPLUHLQH 2KUIHLJH (LQ WROOHV )UDXHQ]LPPHU YRQ HLQHU JDQ] WROOHQ 6RUWH©ª8QG6LH"© 'HU*HQHUDOVFKOXJGLH$XJHQQLHGHU]RJGLH$XJHQEUDXHQ XQG GLH 6FKXOWHUQ LQ GLH +|KH SUHWH GLH /LSSHQ ]XVDPPHQ EUHLWHWH GLH $UPH DXVHLQDQGHU VFKZLHJ HLQ :HLOFKHQ XQG VDJWH GDQQ ª,FK OLH PLFK KLQUHLHQ© ª+DEHQ 6LH LKU ZHK
JHWDQ" -D"© ª:HL *RWW ZHK JHWDQ KDEH LFK LKU HLJHQWOLFK QLFKW(VKDWYLHOKlOLFKHV*HUHGHJHJHEHQDEHUZHKKDEHLFK LKU HLJHQWOLFK QLFKW JHWDQ ,FK KDEH QXU HLQH HLQ]LJH DEZHKUHQGH +DQGEHZHJXQJ JHPDFKW OHGLJOLFK XP VLH PLU YRP/HLEH]XKDOWHQ$EHUGDKDWWHQXQGHU7HXIHOVHOEVWVHLQH +DQG LP 6SLHO HV VWHOOWH VLFK KHUDXV GD GLH +HOOEODXH HLQH (QJOlQGHULQ ZDU HLQH *RXYHUQDQWH RGHU VRJDU +DXVIUHXQGLQ GHU )UVWLQ %MHORNRQVNDMD XQG GLH LP VFKZDU]HQ .OHLGH GDV ZDUGLHlOWHVWH3ULQ]HVVLQ%MHORNRQVNDMDHLQHDOWH-XQJIHUYRQ HWZDIQIXQGGUHLLJ-DKUHQ1XQLVWDOOJHPHLQEHNDQQWLQZLH QDKHQ %H]LHKXQJHQ GLH *HQHUDOLQ -HSDQWVFKLQD ]X GHP %MHORNRQVNLMVFKHQ +DXVH VWHKW $OOH 3ULQ]HVVLQQHQ ILHOHQ LQ 2KQPDFKW ZHLQWHQ OHJWHQ 7UDXHU XP GDV /LHEOLQJVKQGFKHQ DQ GLH VHFKV 3ULQ]HVVLQQHQ ZLQVHOWHQ GLH (QJOlQGHULQ ZLQVHOWHHVZDUDOVVROOWHGLH:HOWXQWHUJHKHQ1DQDWUOLFK IXKU LFK DOV UHXLJHU 6QGHU KLQ VFKULHE HLQHQ %ULHI EDW XP 9HU]HLKXQJ DEHU ZHGHU LFK ZXUGH DQJHQRPPHQ QRFK PHLQ %ULHI 8QGPLW-HSDQWVFKLQEHNDP LFK LQIROJHGHVVHQ 6WUHLW HU NQGLJWHPLUGLH)UHXQGVFKDIWXQGDOOHU9HUNHKU]ZLVFKHQXQV K|UWHDXI©ª$EHUHUODXEHQ6LHZLHJHKWGHQQGDV]X"©IUDJWH 1DVWDVMD )LOLSSRZQD SO|W]OLFK ªYRU IQI RGHU VHFKV 7DJHQ KDEH LFK LQ GHU ¾,QGHSHQGDQFH½ ± LFK OHVH GLH ,QGHSHQGDQFH VWlQGLJ±JHQDXGLHVHOEH*HVFKLFKWHJHOHVHQ$EHUYROOVWlQGLJ GLHVHOEH 'HU EHWUHIIHQGH 9RUIDOO VSLHOWH VLFK DXI HLQHU UKHLQLVFKHQ %DKQ LQ HLQHP $EWHLO ]ZLVFKHQ HLQHP )UDQ]RVHQ XQGHLQHU(QJOlQGHULQDEHVZXUGHJDQ]HEHQVRMHPDQGHPGLH =LJDUUH DXV GHU +DQG JHULVVHQ XQG JDQ] HEHQVR HLQ %RORJQHVHUKQGFKHQ DXV GHP )HQVWHU JHZRUIHQ DXFK HQGHWH GLH*HVFKLFKWHJDQ]HEHQVRZLHEHL,KQHQ6HOEVWGDVKHOOEODXH .OHLGVWLPPW© 'HU *HQHUDO ZXUGH VHKU URW DXFK .ROMD HUU|WHWH XQG SUHWH VLFKGHQ.RSIPLWGHQ+lQGHQ]XVDPPHQ3WL]\QZHQGHWHVLFK VFKQHOO DE 1XU )HUG\VFKWVFKHQNR ODFKWH ZLH YRUKHU 9RQ *DQMDEUDXFKWHPDQZHLWHUQLFKW]X UHGHQ HU VWDQG GLH JDQ]H
=HLW EHU GD XQG PDFKWH XQVDJEDUH XQHUWUlJOLFKH 4XDOHQ GXUFK ª,FK NDQQ ,KQHQ YHUVLFKHUQ© PXUPHOWH GHU *HQHUDO ªGD DXFK PLU JDQ] GDVVHOEH EHJHJQHW LVW © ª3DSD KDW ZLUNOLFK 8QDQQHKPOLFKNHLWHQ PLW 0UV 6PLWK GHU *RXYHUQDQWH EHL %MHORNRQVNLMV JHKDEW© ULHI .ROMD ª'DUDQ HULQQHUH LFK PLFK© ª:LH *HQDX HEHQVR" (LQ XQG GLHVHOEH *HVFKLFKWH VROOWH VLFK DQ ]ZHL ZHLW DXVHLQDQGHUOLHJHQGHQ 6WHOOHQ (XURSDV ]XJHWUDJHQ KDEHQ JHQDX EHUHLQVWLPPHQG LQ DOOHQ (LQ]HOKHLWHQ HLQVFKOLHOLFK GHV KHOOEODXHQ .OHLGHV"© VDJWH 1DVWDVMD )LOLSSRZQD XQEDUPKHU]LJ EHL GLHVHP *HJHQVWDQG EHKDUUHQG ª,FK ZHUGH ,KQHQ GLH ¾,QGHSHQGDQFH %HLJH½ ]XVFKLFNHQ ª$EHU EHDFKWHQ 6LH ZRKO© HUZLGHUWH GHU *HQHUDO GHU VLFK LPPHU QRFK VWDQGKDIW YHUWHLGLJWH ªGD HV PLU]ZHL-DKUHIUKHUSDVVLHUWLVW©ª-DGDVLVWHQWVFKHLGHQG© 1DVWDVMD )LOLSSRZQD EUDFK LQ HLQ JHUDGH]X K\VWHULVFKHV /DFKHQ DXV ª3DSDFKHQ LFK ELWWH 6LH DXI HLQ SDDU :RUWH PLW PLUKLQDXV]XNRPPHQ©VDJWH*DQMDPLW]LWWHUQGHU6WLPPHGHU PDQVHLQH6HHOHQTXDODQK|UWHXQGIDWHGHQ9DWHUPHFKDQLVFK DQ GHU 6FKXOWHU (LQ JUHQ]HQORVHU +D ORGHUWH LQ VHLQHP %OLFNH ,Q GLHVHP $XJHQEOLFN HUW|QWH DXHURUGHQWOLFK ODXW GLH .OLQJHO LP 9RU]LPPHU %HL VR JHZDOWVDPHP /lXWHQ NRQQWH GLH .OLQJHO DEUHLHQ 0DQ NRQQWH VLFK DXI HLQHQ XQJHZ|KQOLFKHQ%HVXFKJHIDWPDFKHQ.ROMDOLHIKLQXP]X |IIQHQ ,P 9RU]LPPHU ZXUGH HV SO|W]OLFK VHKU JHUlXVFKYROO XQG OHEHQGLJ 9RP 6DORQ DXV VFKLHQ HV GD YRQ GUDXHQ PHKUHUH 0HQVFKHQ KHUHLQJHNRPPHQ ZDUHQ XQG LKQHQ LPPHU QRFK DQGHUH IROJWHQ 0HKUHUH 6WLPPHQ UHGHWHQ XQG VFKULHQ ]XJOHLFK DXFK DXI GHU 7UHSSH ZXUGH JHUHGHW XQG JHVFKULHQ GHQQ GLH 7U GLH YRP 9RU]LPPHU GRUWKLQ IKUWH ZDU ZLH PDQ K|UHQ NRQQWH QLFKW ZLHGHU JHVFKORVVHQ ZRUGHQ (V ZDU RIIHQEDU HLQ K|FKVW VRQGHUEDUHU %HVXFK $OOH VDKHQ HLQDQGHU DQ *DQMD HLOWH QDFK GHP :RKQ]LPPHU DEHU DXFK LQ GDV :RKQ]LPPHU GUDQJHQ VFKRQ PHKUHUH 0HQVFKHQ HLQ ª$K GD
LVWHUMDGHU-XGDV©ULHIHLQH6WLPPHGLHGHP)UVWHQEHNDQQW YRUNDP ª*XWHQ 7DJ *DQMD GX 6FKXIW© ª-D GDV LVW HU LQ HLJHQHU3HUVRQ©EHVWlWLJWHHLQHDQGHUH6WLPPH 'HU)UVWNRQQWHQLFKWGDUDQ]ZHLIHOQGLHHLQH6WLPPHZDU GLH5RJRVKLQVGLHDQGHUHGLH/HEHGHZV*DQMDVWDQGZLHYRU GHQ .RSI JHVFKODJHQ DXI GHU 6FKZHOOH GHV 6DORQV XQG VDK VFKZHLJHQG XQG RKQH HV ]X KLQGHUQ ]X ZLH KLQWHU 3DUIHQ 5RJRVKLQ]HKQRGHU]Z|OI0HQVFKHQHLQHUQDFKGHPDQGHUQLQ GDV :RKQ]LPPHU HLQWUDWHQ 'LH *HVHOOVFKDIW ZDU VHKU EXQWVFKHFNLJ XQG ]HLFKQHWH VLFK QLFKW QXU GXUFK LKUH %XQWVFKHFNLJNHLWVRQGHUQDXFKGXUFKLKUVHOWVDPHV%HQHKPHQ DXV (LQLJH WUDWHQ VR HLQ ZLH VLH YRQ GHU 6WUDH NDPHQ LP hEHU]LHKHU XQG 3HO] *DQ] EHWUXQNHQ ZDUHQ GLHVH /HXWH EULJHQVQLFKWMHGRFKPDFKWHQVLHVlPWOLFKGHQ(LQGUXFNGD VLHVWDUNDQJHKHLWHUWZDUHQ6LHVFKLHQHQDOOHHLQHUGHVDQGHUQ ]X EHGUIHQ XP GHQ 0XW ]XP (LQWUHWHQ ]X ILQGHQ HLQ]HOQ KlWWHQ VLH QLFKW .KQKHLW JHQXJ EHVHVVHQ DEHU DOOH VFKREHQ VLFKVR]XVDJHQZHFKVHOVHLWLJYRUZlUWV6HOEVW5RJRVKLQVFKULWW QXU PLW JURHU 9RUVLFKW DQ GHU 6SLW]H GLHVHV 7UXSSV HLQKHU DEHU HU KDWWH DXJHQVFKHLQOLFK LUJHQGHLQH $EVLFKW XQG VFKLHQ WUDXULJ JHUHL]W XQG VRUJHQYROO 'LH EULJHQ ELOGHWHQ QXU GHQ &KRURGHUEHVVHUJHVDJWGLH+LOIVWUXSSH$XHU/HEHGHZZDU GD DXFK GHU VFK|Q IULVLHUWH 6DOMRVKHZ GHU VHLQHQ 3HO] LP 9RU]LPPHUDEJHOHJWKDWWHXQGQXQLQJHZDQGWHUVWXW]HUKDIWHU $UW HLQWUDW XQG ]ZHL RGHU GUHL +HUUHQ YRQ lKQOLFKHU $UW ZLH HU RIIHQEDU DXV GHP .DXIPDQQVVWDQG IHUQHU HLQHU LQ HLQHP KDOEPLOLWlULVFKHQ 3DOHWRW GDQQ HLQ NOHLQHU VHKU GLFNHU 0HQVFK GHU EHVWlQGLJ ODFKWH ZHLWHU HLQ +HUU YRQ JHZDOWLJHU .|USHUJU|H GHU JOHLFKIDOOV XQJHZ|KQOLFK GLFN ZDU VHKU ILQVWHU DXVVDK VLFK VFKZHLJVDP YHUKLHOW XQG RIIHQEDU JURH +RIIQXQJHQ DXI VHLQH )lXVWH VHW]WH $XFK HLQ 6WXGHQW GHU 0HGL]LQZDUGDXQGHLQVFKDUZHQ]HOQGHU3ROH9RQGHU7UHSSH KHU EOLFNWHQ QRFK ]ZHL XQGHILQLHUEDUH 'DPHQ LQV 9RU]LPPHU KHUHLQ ZDJWHQ DEHU QLFKW HLQ]XWUHWHQ .ROMD VFKOXJ LKQHQ GLH
7U YRU GHU 1DVH ]X XQG VLFKHUWH VLH GXUFK 9RUOHJXQJ GHV +DNHQVª*XWHQ7DJ*DQMDGX6FKXIW1D"3DUIHQ5RJRVKLQV %HVXFK KDVW GX ZRKO QLFKW HUZDUWHW"© ZLHGHUKROWH 5RJRVKLQ LQGHP HU ]XP 6DORQ JLQJ XQG LQ GHU 7U YRU *DQMD VWHKHQ EOLHE $EHU LQ GLHVHP $XJHQEOLFN HUEOLFNWH HU SO|W]OLFK LP 6DORQVLFKJHUDGHJHJHQEHU1DVWDVMD)LOLSSRZQD(VVFKLHQ GD HU HV VLFK QLFKW KDWWH WUlXPHQ ODVVHQ VLH KLHU ]X WUHIIHQ GHQQ LKU $QEOLFN EWH DXI LKQ HLQH DXHURUGHQWOLFKH :LUNXQJ DXV HU ZXUGH VR EOD GD VRJDU VHLQH /LSSHQ HLQH EOlXOLFKH )lUEXQJ DQQDKPHQ ª$OVR LVW HV ZDKU© VDJWH HU PLW JDQ] YHUVW|UWHP*HVLFKWOHLVHYRUVLFKKLQª1XQLVWDOOHV ]X (QGH $EHU 'DV VROOVW GX PLU MHW]W EHQ© IJWH HU ]lKQHNQLUVFKHQG KLQ]X XQG EOLFNWH *DQMD PLW PDORVHU :XW DQª2KDFK© (U NRQQWH NDXP /XIW KROHQ VRJDU GDV 5HGHQ ILHO LKP VFKZHU 0HFKDQLVFK WUDW HU LQ GHQ 6DORQ DEHU DOV HU GLH 6FKZHOOHEHUVFKULWWHUEOLFNWHHUSO|W]OLFK1LQD$OH[DQGURZQD XQG :DUMD XQG EOLHE WURW] DOO VHLQHU $XIUHJXQJ HLQLJHUPDHQ YHUOHJHQ VWHKHQ +LQWHU LKP NDP /HEHGHZ GHU LKQ ZLH VHLQ 6FKDWWHQ EHJOHLWHWH XQG VFKRQ VWDUN EHWUXQNHQ ZDU GDQQ GHU 6WXGHQW GHU +HUU PLW GHQ )lXVWHQ 6DOMRVKHZ GHU VLFK QDFK UHFKWVXQGQDFKOLQNVYHUEHXJWHXQGHQGOLFKGUlQJWHVLFKQRFK GHUNOHLQH'LFNHGXUFK'LH$QZHVHQKHLWGHU'DPHQKLHOWVLH DOOH QRFK HLQ ZHQLJ LP =DXP XQG ZDU LKQHQ RIIHQEDU UHFKW VW|UHQG QDWUOLFK QXU ELV HV ORVJLQJ ELV VLFK GHU HUVWH $QOD ERW HLQ *HVFKUHL ]X HUKHEHQ XQG ORV]XOHJHQ ± 'DQQ ZUGHQ DXFKLUJHQGZHOFKH'DPHQQLFKWPHKUVW|UHQ ª:DV"'XDXFK KLHU" )UVW"© VDJWH 5RJRVKLQ ]HUVWUHXW HU ZDU HWZDV YHUZXQGHUW GHQ )UVWHQ KLHU ]X WUHIIHQ ª,PPHU QRFK LQ *DPDVFKHQ $FK© VHXI]WH HU HU KDWWH GHQ )UVWHQ EHUHLWV YHUJHVVHQ ULFKWHWH VHLQH %OLFNH ZLHGHU DXI 1DVWDVMD )LOLSSRZQDXQGUFNWHLKUZLHYRQHLQHP0DJQHWDQJH]RJHQ LPPHUQlKHU 1DVWDVMD)LOLSSRZQDEHWUDFKWHWHGLH$QN|PPOLQJHHEHQIDOOV
PLW XQUXKLJHU 1HXJLHUGH (QGOLFK IDWH VLFK *DQMD ª$EHU HUODXEHQ6LHZDVVROOGHQQGDVHLJHQWOLFKEHGHXWHQ"©VDJWHHU PLW VWDUNHU 6WLPPH LQGHP HU GLH (LQJHWUHWHQHQ PLW VWUHQJHP %OLFNDQVDKXQGVLFKYRUDOOHPDQ5RJRVKLQZDQGWHª6LHVLQG KLHUQLFKWLQHLQHQ3IHUGHVWDOOKHUHLQJHNRPPHQPHLQH+HUUHQ KLHUEHILQGHQVLFKPHLQH0XWWHUXQGPHLQH6FKZHVWHU© ª'DV VHKHQ ZLU GD GHLQH 0XWWHU XQG GHLQH 6FKZHVWHU GD VLQG© SUHWH 5RJRVKLQ ]ZLVFKHQ GHQ =lKQHQ KHUYRU ª'D GLH 0XWWHU XQG GLH 6FKZHVWHU GD VLQG GDV VLHKW PDQ© SIOLFKWHWH LKP/HEHGHZEHLXPVLFKHLQ$QVHKHQ]XJHEHQ 'HU +HUU PLW GHQ )lXVWHQ GHU ZRKO DQQDKP GD MHW]W GHU ULFKWLJH $XJHQEOLFN JHNRPPHQ VHL ILQJ DQ HWZDV ]X EUXPPHQª$EHUGDVLVWGRFKXQHUK|UW©ULHI*DQMDHUUHJWXQG EHUODXW ª(UVWHQV HUVXFKH LFK 6LH DOOH GLHVHV =LPPHU ]X YHUODVVHQ XQG LQ GDV :RKQ]LPPHU ]X JHKHQ XQG GDQQ VHLHQ 6LHVRIUHXQGOLFKVLFKYRU]XVWHOOHQ©ª1XQVLHKHLQHUDQ(U NHQQW PLFK QLFKW© HUZLGHUWH 5RJRVKLQ PLW ERVKDIWHP /lFKHOQRKQHVLFKYRP)OHFN]XUKUHQª.HQQVWGX5RJRVKLQ QLFKW PHKU"© ª,FK ELQ DOOHUGLQJV VFKRQ LUJHQGZR PLW ,KQHQ ]XVDPPHQJHWURIIHQ DEHU © ª6LHK PDO DQ ,UJHQGZR ]XVDPPHQJHWURIIHQ ,FK KDEH MD HUVW YRU GUHL 0RQDWHQ ]ZHLKXQGHUW 5XEHO GLH PHLQHP 9DWHU JHK|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© (U ZDU LPPHU KLW]LJHU JHZRUGHQ XQG VFKLHQ VLFK LPPHU PHKU LQ
VHLQHQ 5DXVFK KLQHLQ]XVWHLJHUQ ª$FK© VFKULH HU ª1DVWDVMD )LOLSSRZQD -DJHQ 6LH PLFK QLFKW IRUW 6DJHQ 6LH QXU HLQ HLQ]LJHV:|UWFKHQZHUGHQ6LHLKQKHLUDWHQRGHUQLFKW"© 5RJRVKLQKDWWHGLHVH)UDJHJHVWHOOWDOVZlUHHUJDQ]ZLUULP .RSI XQG DOV ZHQGHWH HU VLFK DQ HLQH *RWWKHLW DEHU PLW GHU .KQKHLW HLQHV ]XP 7RGH 9HUXUWHLOWHQ GHU QLFKWV PHKU ]X YHUOLHUHQKDW,Q7RGHVDQJVWZDUWHWHHUDXIGLH$QWZRUW 1DVWDVMD )LOLSSRZQD PD LKQ PLW HLQHP VS|WWLVFKHQ KRFKPWLJHQ %OLFN DEHU GDQQ VDK VLH QDFK :DUMD XQG QDFK 1LQD $OH[DQGURZQD KLQ EHWUDFKWHWH SUIHQG *DQMD XQG YHUlQGHUWHSO|W]OLFKLKUHQ7RQª1HLQNHLQHVZHJVZDVKDEHQ 6LH EOR" 8QG PLW ZHOFKHP 5HFKW VWHOOHQ 6LH PLU GLHVH )UDJH"© DQWZRUWHWH VLH OHLVH XQG HUQVW XQG ZLH HV VFKLHQ HWZDV HUVWDXQW ª1HLQ" 1HLQ"© VFKULH 5RJRVKLQ YRU )UHXGH JDQ] DXHU VLFK ª$OVR QLFKW" 8QG GLH /HXWH KDWWHQ HV PLU JHVDJW$FK2K1DVWDVMD)LOLSSRZQD'LH/HXWHVDJHQ 6LH KlWWHQ VLFK PLW *DQMD YHUOREW 0LW GLHVHP 0HQVFKHQ" ,VW GDVGHQQEHUKDXSWP|JOLFK",FKKDEH]XDOOHQ/HXWHQJHVDJW GD GDV QLFKW P|JOLFK LVW ,FK NDXIH MD GHQ JDQ]HQ 3DWURQ IU KXQGHUW5XEHOXQGZHQQLFKLKPWDXVHQG5XEHOQDRGHUDXFK GUHLWDXVHQG5XEHOGDIUJHEHGDHU]XUFNWULWWVRZLUGHUDP 7DJH YRU GHU +RFK]HLW GDYRQODXIHQ XQG PLU VHLQH %UDXW EHUODVVHQ -D MD VR LVW HV *DQMD GX 6FKXIW 'X ZUGHVW JHZL GLH 'UHLWDXVHQG QHKPHQ 'D VLQG VLH GD (EHQ GHVZHJHQ ELQ LFK MD KHUJHNRPPHQ XP PLU YRQ GLU HLQHQ VROFKHQ VFKULIWOLFKHQ 9HU]LFKW DXVVWHOOHQ ]X ODVVHQ LFK KDEH JHVDJW¾,FKZLOOLKQNDXIHQ½XQGGDVZHUGHLFKWXQ© ª6FKHU GLFK ZHJ YRQ KLHU GX ELVW MD EHWUXQNHQ© VFKULH *DQMD GHU DEZHFKVHOQGURWXQGEODZXUGH 1DFK GLHVHU $XIIRUGHUXQJ OLHHQ VLFK SO|W]OLFK PHKUHUH KHIWLJH 6WLPPHQ YHUQHKPHQ 5RJRVKLQV JDQ]HU 7UXSS KDWWH VFKRQODQJHDXIGLHHUVWH+HUDXVIRUGHUXQJ JHZDUWHW /HEHGHZ IOVWHUWH 5RJRVKLQ HWZDV PLW EHVRQGHUHP (LIHU LQV 2KU ª'D KDVWGXUHFKWGX%URPHQVFK©DQWZRUWHWH5RJRVKLQª'DKDVW
GXUHFKWGX7UXQNHQEROG$FKZLUZROOHQ¶VZDJHQ1DVWDVMD )LOLSSRZQD© ULHI HU EOLFNWH ZLH HLQ +DOELUUHU ULQJV XP VLFK ZXUGH lQJVWOLFK XQG JLQJ GDQQ DXI HLQPDO ZLHGHU ]X NKQHU 'UHLVWLJNHLW EHU ª'D VLQG DFKW]HKQWDXVHQG 5XEHO© 8QG HU ZDUI HLQ LQ ZHLHV 3DSLHU HLQJHZLFNHOWHV NUHX]ZHLVH ]XJHEXQGHQHV3lFNFKHQYRULKUDXI GDV 7LVFKFKHQ ª'D 8QG HVNRPPWQRFKPHKU© (U ZDJWH QLFKW ]X (QGH ]X VSUHFKHQ XQG ]X VDJHQ ZDV HU ZROOWH ª1HLQQHLQQHLQ© IOVWHUWH LKP YRQ QHXHP /HEHGHZ PLWJDQ]HUVFKURFNHQHP*HVLFKW]X0DQNRQQWHPHUNHQGD HU EHU GLH +|KH GHU 6XPPH HUVFKURFNHQ ZDU XQG YRUJHVFKODJHQ KDWWH HV PLW HLQHU EHWUlFKWOLFK JHULQJHUHQ ]X YHUVXFKHQ ª1HLQ QHLQ GDULQ ELVW GX QXQ VFKRQ HLQ 'XPPNRSI OLHEHU )UHXQG GX ZHLW QLFKW ZHQ ZLU YRU XQV KDEHQXQGRIIHQEDUELQLFKHEHQVRHLQ'XPPNRSIZLHGX© 'LHV OHW]WHUH IJWH 5RJRVKLQ KLQ]X GD HU XQWHU 1DVWDVMD )LOLSSRZQDV IXQNHOQGHP %OLFN ]XU %HVLQQXQJ NDP XQG ]XVDPPHQIXKU ª$FK DFK ,FK KDEH 8QVLQQ JHUHGHW ZHLO LFK DXIGLFKK|UWH©IXKUHUPWLHIHU5HXHIRUW $OV1DVWDVMDVHLQEHVWU]WHV*HVLFKWVDKODFKWHVLHODXWDXI ª$FKW]HKQWDXVHQG 5XEHO ELHWHW HU PLU" 'D VLHKW PDQ GRFK JOHLFK GHQ %DXHUQ© IJWH VLH XQJHQLHUW XQG GUHLVW KLQ]X XQG VWDQG YRP 6RID DXI DOV RE VLH DXI]XEUHFKHQ EHDEVLFKWLJWH *DQMD EHREDFKWHWH GLHVH JDQ]H 6]HQH PLW IDVW YHUVDJHQGHP +HU]VFKODJ ª$OVR YLHU]LJWDXVHQG YLHU]LJ QLFKW DFKW]HKQ© VFKULH 5RJRVKLQ ª:DQMND 3WL]\Q XQG %LVNXS KDEHQ YHUVSURFKHQ ELV VLHEHQ 8KU GLH 9LHU]LJWDXVHQG KHUDQ]XVFKDIIHQ9LHU]LJWDXVHQG%DUDXIGHQ7LVFK© 'LH 6]HQH ZXUGH VHKU ZLGHUZlUWLJ DEHU 1DVWDVMD )LOLSSRZQDVWDWWZHJ]XJHKHQODFKWHLPPHUZHLWHUDOVREVLH VLH DEVLFKWOLFK YHUOlQJHUQ ZROOWH 1LQD $OH[DQGURZQD XQG :DUMDHUKREHQVLFKJOHLFKIDOOVYRQLKUHQ3OlW]HQXQGZDUWHWHQ HUVFKURFNHQ XQG VFKZHLJHQG ZDV GDV IU HLQHQ $XVJDQJ QHKPHQ ZUGH :DUMDV $XJHQ IXQNHOWHQ DEHU DXI 1LQD
$OH[DQGURZQD EWH DOO GLHV SK\VLVFK HLQH VHKU EOH :LUNXQJ DXV VLH ]LWWHUWH XQG GURKWH LP QlFKVWHQ $XJHQEOLFN LQ 2KQPDFKW ]X IDOOHQ ª1XQ ZHQQ¶V QLFKW DQGHUV LVW GDQQ KXQGHUW 1RFK KHXWH EHUJHEH LFK ,KQHQ KXQGHUWWDXVHQG 5XEHO3WL]\QVHLPLUEHKLOIOLFKGXPDFKVWGDEHLHLQHQJXWHQ 3URILW©ª'XELVWYHUUFNWJHZRUGHQ©IOVWHUWHLKP3WL]\Q]X GHU UDVFK ]X LKP KHUDQWUDW XQG LKQ DP $UP IDWH ª'X ELVW EHWUXQNHQHVZLUGQDFKGHU3ROL]HLJHVFKLFNWZHUGHQPVVHQ :R JODXEVW GX GHQQ ]X VHLQ"© ª(U LVW EHWUXQNHQ XQG UHQRPPLHUW©VDJWH1DVWDVMD)LOLSSRZQDZLHXPLKQ]XUHL]HQ ª,FKUHQRPPLHUHQLFKWGDV*HOGZLUGGDVHLQ]XP$EHQGZLUG HVGDVHLQ3WL]\QVHLPLUEHKLOIOLFKGXDOWHU:XFKHUHUQLPP GDIU VRYLHO GX ZLOOVW DEHU EHVFKDII PLU ]XP $EHQG KXQGHUWWDXVHQG 5XEHO LFK ZLOO EHZHLVHQ GD LFK QLFKW NQHLIH©ULHI5RJRVKLQYHU]FNWXQGHQWKXVLDVWLVFKª$EHUZDV VROO GHQQ GDV HLJHQWOLFK EHGHXWHQ"© ULHI $UGDOLRQ $OH[DQGURZLWVFKDXIHLQPDOLQ]RUQLJHPGURKHQGHP7RQXQG JLQJDXI5RJRVKLQ]X'LH3O|W]OLFKNHLWPLWGHUVLFKGHUELVKHU VRVFKZHLJVDPH$OWHHLQPLVFKWHKDWWHHWZDVVHKU.RPLVFKHV XQG PDQ K|UWH DXFK ZLUNOLFK /DFKHQ ª:R NRPPW GHQQ GHU KHU"©IUDJWH5RJRVKLQODFKHQGª.RPPPLW$OWHUGDVROOVWGX GLFK PDO WROO XQG YROO VDXIHQ© ª$EHU GDV LVW MD HLQH *HPHLQKHLW© ULHI .ROMD GHU YRU 6FKDP XQG bUJHU JHUDGH]X ZHLQWH ª,VWGHQQNHLQHLQ]LJHUXQWHUHXFKGHUHVIHUWLJEULQJW GLHVHV VFKDPORVH :HLE KLQDXV]XVFKDIIHQ"© ULHI SO|W]OLFK ]LWWHUQG YRU =RUQ :DUMD ª$OVR PLFK QHQQW PDQ HLQ VFKDPORVHV :HLE© HQWJHJQHWH 1DVWDVMD )LOLSSRZQD PLW YHUlFKWOLFKHU+HLWHUNHLWª8QGLFKGXPPZLHLFKELQNRPPH KLHUKHU XP GLH EHLGHQ 'DPHQ DXI GHQ $EHQG ]X PLU HLQ]XODGHQ6HKHQ6LH*DZULOD$UGDOLRQRZLWVFKZLHPLFK,KU 6FKZHVWHUFKHQEHKDQGHOW© (LQ:HLOFKHQVWDQG*DQMDLQIROJHGHUKHIWLJHQ:RUWHVHLQHU 6FKZHVWHU GD ZLH YRP %OLW] JHWURIIHQ DEHU DOV HU VDK GD 1DVWDVMD )LOLSSRZQD VLFK GLHVPDO ZLUNOLFK ]XP )RUWJHKHQ
DQVFKLFNWH VWU]WH HU ZLH HLQ 5DVHQGHU DXI :DU MD ]X XQG SDFNWHVLHZWHQGEHLGHU +DQG ª:DVKDVWGX JHWDQ"© VFKULH HU XQG VDK VLH DQ DOV RE HU VLH DXI GHP )OHFN ]X $VFKH YHUEUHQQHQ ZROOWH (U KDWWH YROOVWlQGLJ GLH )DVVXQJ YHUORUHQ XQGZDUIDVWYRQ 6LQQHQ ª:DV LFK JHWDQ KDEH" :RKLQ]HUUVW GX PLFK" 'X YHUODQJVW GRFK QLFKW HWZD GD LFK VLH XP 9HU]HLKXQJGDIUELWWHQVROOGDVLHGHLQH0XWWHUEHOHLGLJWKDW XQG KHUJHNRPPHQ LVW XP GHLQ +DXV ]X EHVFKLPSIHQ GX JHPHLQHU 0HQVFK"© ULHI :DUMD ZLHGHU XQG EOLFNWH LKUHQ %UXGHUWULXPSKLHUHQGXQGKHUDXVIRUGHUQGDQ (LQ SDDU 6HNXQGHQ ODQJ VWDQGHQ VLH HLQDQGHU VR $XJH LQ $XJH JHJHQEHU *DQMD KLHOW LPPHU QRFK LKUH +DQG LQ GHU VHLQHQ :DUMD VXFKWH VLFK HLQPDO XQG QRFK HLQPDO PLW DOOHU *HZDOW ORV]XUHLHQ YHUPRFKWH HV DEHU QLFKW XQG VSLH SO|W]OLFKJDQ]DXHUVLFKGHP%UXGHULQV*HVLFKWª,VWGDVHLQ 0lGFKHQ© ULHI 1DVWDVMD )LOLSSRZQD ª%UDYR 3WL]\Q LFK JUDWXOLHUH,KQHQ© 'HP VR EHOHLGLJWHQ *DQMD ZXUGH HV VFKZDU] YRU $XJHQ HU YHUORUY|OOLJGLH+HUUVFKDIWEHUVLFKXQGKROWHPLWDOOHU.UDIW JHJHQ VHLQH 6FKZHVWHU DXV 'HU 6FKODJ KlWWH VLH VLFKHUOLFK JHUDGH LQV *HVLFKW JHWURIIHQ $EHU SO|W]OLFK ZXUGH *DQMDV +DQGGXUFKHLQHDQGHUHIHVWJHKDOWHQ =ZLVFKHQLKPXQGVHLQHU6FKZHVWHUVWDQGGHU)UVWª+|UHQ 6LHDXIHVLVWJHQXJ©VDJWHHUQDFKGUFNOLFKDEHUDPJDQ]HQ /HLEH ZLH YRQ HLQHU VHKU KHIWLJHQ (UVFKWWHUXQJ ]LWWHUQG ª:LUVWGXPLUHWZDLPPHULP:HJHVHLQ"©EUOOWH*DQMDOLH :DUMDV +DQG ORV XQG YHUVHW]WH LQ VLQQORVHU :XW PLW GHU IUHLJHZRUGHQHQ +DQG GHP )UVWHQ PLW DOOHU .UDIW HLQH 2KUIHLJH ª$FK© VFKULH .ROMD XQG VFKOXJ GLH +lQGH ]XVDPPHQª$FKPHLQ*RWW© 9RQ DOOHQ 6HLWHQ HUVFKROOHQ $XVUXIH 'HU )UVW ZDU JDQ] EOD JHZRUGHQ 0LW HLQHP HLJHQDUWLJHQ YRUZXUIVYROOHQ %OLFN VDK HU *DQMD JHUDGH LQ GLH $XJHQ VHLQH /LSSHQ ]LWWHUWHQ XQG VWUHQJWHQ VLFK DQ HWZDV ]X VDJHQ HLQ VHOWVDPHV XQG JDQ]
XQPRWLYLHUWHV/lFKHOQYHU]HUUWHVLHª1XQZHQQPLUGDVDXFK ZLGHUIlKUWDEHUVLHVLHODVVHLFKQLFKWVFKODJHQ©VDJWHHU HQGOLFKOHLVH $EHU VHLQH (PSILQGXQJHQ ZXUGHQ GRFK ]X PlFKWLJ HU ZDQGWH VLFK YRQ *DQMD ZHJ YHUEDUJ GDV *HVLFKW LQ GHQ +lQGHQJLQJLQHLQH(FNHVWHOOWHVLFKPLWGHP*HVLFKWJHJHQ GLH :DQG XQG VDJWH PLW IDVW YHUVDJHQGHU 6WLPPH ª2K ZLH ZHUGHQ6LHVLFK,KUHV%HQHKPHQVVFKlPHQ© *DQMD VWDQG LQ GHU 7DW ZLH YHUQLFKWHW GD .ROMD VWU]WH DXI GHQ)UVWHQ]XXPLKQ]XXPDUPHQXQG]XNVVHQ1DFKLKP GUlQJWHQ VLFK 5RJRVKLQ :DUMD 3WL]\Q 1LQD $OH[DQGURZQD XQG DOOH DQGHUQ KHUDQ VHOEVW GHU DOWH $UGDOLRQ $OH[DQGURZLWVFK ª(V KDW QLFKWV DXI VLFK HV KDW QLFKWV DXI VLFK© PXUPHOWH GHU )UVW QDFK DOOHQ 6HLWHQ KLQ LPPHU QRFK PLW GHPVHOEHQ XQPRWLYLHUWHQ /lFKHOQ ª8QG HU ZLUG HV DXFK EHUHXHQ© VFKULH 5RJRVKLQ ª'X ZLUVW GLFK VFKlPHQ *DQMD GD GX HLQ VROFKHV 6FKDI© HU NRQQWH NHLQ DQGHUHV :RUW ILQGHQ ªEHOHLGLJWKDVW)UVWPHLQOLHEHV.HUOFKHQVFKHUGLFK QLFKWXPGLHVH%DQGHODVLHXQGNRPPPLWPLU'DZLUVWGX VHKHQZLH5RJRVKLQGLH/HXWHEHKDQGHOWGLHHUJHUQKDW© $XI1DVWDVMD)LOLSSRZQDKDWWHQ*DQMDV7DWXQGGLH$QWZRUW GHV)UVWHQHEHQIDOOVHLQHQWLHIHQ(LQGUXFNJHPDFKW,KUPHLVW EODVVHV QDFKGHQNOLFKHV *HVLFKW GDV GLH JDQ]H =HLW EHU PLW GHP ELVKHULJHQ JHNQVWHOWHQ /DFKHQ QLFKW KDWWH KDUPRQLHUHQ ZROOHQ ZDU MHW]W DXJHQVFKHLQOLFK YRQ HLQHP QHXHQ *HIKO HUUHJW MHGRFK ZROOWH VLH¶V QLFKW ]HLJHQ XQG GHU VS|WWLVFKH $XVGUXFN EHPKWH VLFK JOHLFKVDP DXI LKUHP *HVLFKW ]X YHUEOHLEHQª:LUNOLFKLFKKDEHGLHVHV*HVLFKWVFKRQLUJHQGZR JHVHKHQ© VDJWHVLHGDQQHUQVWLQGHPVLHVLFKDQ LKUH IUKHUH )UDJHZLHGHUHULQQHUWHª8QG6LHVFKlPHQVLFKDXFKQLFKW,VW GHQQ GDV ,KU ZDKUHV :HVHQ ZLH 6LH VLFK MHW]W JHEHQ" :LH ZlUH GHQQ GDV P|JOLFK© ULHI DXI HLQPDO GHU )UVW LP 7RQH HUQVWHQVWDUNHQ9RUZXUIV 1DVWDVMD )LOLSSRZQD ZDU HUVWDXQW VLH OlFKHOWH DEHU QXU DOV
RE VLH HWZDV GDKLQWHU ]X YHUEHUJHQ VXFKWH GDQQ ULFKWHWH VLH HLQHQHWZDVYHUOHJHQHQ%OLFNDXI*DQMDXQGYHUOLHGHQ6DORQ $EHU VLH ZDU QRFK QLFKW LQV 9RU]LPPHU JHODQJW DOV VLH SO|W]OLFK XPNHKUWH VFKQHOO DQ 1LQD $OH[DQGURZQD KHUDQWUDW LKUH +DQG HUJULII XQG DQ LKUH /LSSHQ IKUWH ª,FK ELQ MD ZLUNOLFK QLFKW VR HU KDW HV HUUDWHQ© IOVWHUWH VLH UDVFK XQG OHLGHQVFKDIWOLFKXQGHLQHGXQNOH5|WHEHUJRDXIHLQPDOLKU JDQ]HV*HVLFKW'DUDXINHKUWHVLHXPXQGJLQJGLHVPDOVRHLOLJ KLQDXV GD VLFK QLHPDQG LQ GHU *HVFKZLQGLJNHLW GDUEHU NODUZHUGHQ NRQQWH ZHVKDOE VLH HLJHQWOLFK ]XUFNJHNHKUW ZDU 6LH KDWWHQ QXU JHVHKHQ GD VLH 1LQD $OH[DQGURZQD HWZDV ]XJHIOVWHUW XQG LKU ZLH HV VFKLHQ GLH +DQG JHNW KDWWH $EHU:DUMDKDWWHDOOHVJHQDXJHVHKHQXQGJHK|UWXQGYHUIROJWH VLHHUVWDXQWPLWGHQ$XJHQ *DQMD NDP ]XU %HVLQQXQJ XQG VWU]WH ]X 1DVWDVMD )LOLSSRZQDKLQXP VLH KLQDXV]XEHJOHLWHQ DEHU VLH ZDU VFKRQ DXV GHP =LPPHU (U KROWH VLH DXI GHU 7UHSSH HLQ ª%HJOHLWHQ 6LH PLFK QLFKW ZHLWHU© ULHI VLH LKP ]X ª$XI :LHGHUVHKHQ KHXWHDEHQG,FKHUZDUWH6LHEHVWLPPWK|UHQ6LH"© 9HUZLUUW XQG QDFKGHQNOLFK JLQJ HU ]XUFN HLQ VFKZHUHV 5lWVHOODVWHWHDXIVHLQHU6HHOHPLWQRFKVFKZHUHUHP'UXFNDOV ELVKHU$XFKDQGHQ)UVWHQPXWHHUGHQNHQ(U ZDU VR LQ VHLQH*HGDQNHQYHUWLHIWGDHUNDXPEHPHUNWHZLH5RJRVKLQV JDQ]H5RWWHGLHKLQWHULKUHP$QIKUHUKHUHLOLJGLH:RKQXQJ YHUOLHVLFKDQLKPYRUEHLZlO]WHXQGLKPLQGHU7UVRJDUHLQ SDDU 6W|H YHUVHW]WH $OOH UHGHWHQ ODXW PLWHLQDQGHU 5RJRVKLQ VHOEVW JLQJ PLW 3WL]\Q XQG EHVSUDFK PLW LKP HLIULJ HLQH ZLFKWLJH XQG DQVFKHLQHQG XQDXIVFKLHEEDUH 6DFKH ª'X KDVW GDV6SLHOYHUORUHQ*DQMD©ULHIHULKPLP9RUEHLJHKHQ]X *DQMDVDKLKQHQEHXQUXKLJWQDFK
;, 'HU )UVW KDWWH GHQ 6DORQ YHUODVVHQ XQG VLFK LQ VHLQHP =LPPHUHLQJHVFKORVVHQ8QPLWWHOEDUGDUDXINDP.ROMD]XLKP JHODXIHQ XP LKQ ]X WU|VWHQ 'HU DUPH -XQJH VFKLHQ VLFK MHW]W JDUQLFKWPHKUYRQLKPORVUHLHQ]XN|QQHQ ª6LH KDEHQ JXW GDUDQ JHWDQ GD 6LH ZHJJHJDQJHQ VLQG© VDJWH HU ª'D ZLUG MHW]W GHU :LUUZDUU QRFK lUJHU ZHUGHQ DOV ELVKHU MHGHQ 7DJ JHKW HV EHL XQV VR ]X XQG DOO GDV KDW XQV GLHVH1DVWDVMD)LOLSSRZQDHLQJHEURFNW©ª'DEHLHXFKKDWVLFK YLHO.UDQNKHLWVVWRIIDQJHVDPPHOWOLHEHU.ROMD©EHPHUNWHGHU )UVWª-DZRKOYLHO.UDQNKHLWVVWRII$EHUZLUGUIHQXQVQLFKW HLQPDO GDUEHU EHNODJHQ ZLU VLQG VHOEVW DQ DOOHP VFKXOG ,FK KDEH MHGRFK HLQHQ VHKU JXWHQ )UHXQG GHU LVW QRFK XQJOFNOLFKHU,VWHV,KQHQUHFKWGDLFK6LHPLWLKPEHNDQQW PDFKH"© ª6HKU UHFKW ,VW HU ,KU 6FKXONDPHUDG"© ª-D EHLQDK PHLQ6FKXONDPHUDG,FKZHUGH,KQHQGDVDOOHVVSlWHUHUNOlUHQ $EHUVFK|QLVW1DVWDVMD)LOLSSRZQDPHLQHQ6LHQLFKWDXFK" ,FK KDWWH VLH QRFK QLH JHVHKHQ REZRKO LFK PLFK VHKU GDUXP EHPKW KDWWH 6LH KDW PLFK JHUDGH]X JHEOHQGHW ,FK ZUGH PHLQHP%UXGHUDOOHVYHU]HLKHQZHQQHUVLHDXV/LHEHQlKPH DEHUGDHUHVXPGHV*HOGHVZLOOHQWXWGDVLVWKlOLFK©ª-D ,KU %UXGHU JHIlOOW PLU QLFKW VRQGHUOLFK© ª1D ZLH ZlUH GDV DXFK P|JOLFK :LH VROOWH HU ,KQHQ JHIDOOHQ QDFKGHP :LVVHQ6LHLFKELQHPS|UWGDGLH/HXWHEHUGLHVH'LQJHVR YHUVFKLHGHQHU 0HLQXQJ VLQG ,UJHQGHLQ ,UUVLQQLJHU RGHU HLQ 'XPPNRSIRGHUHLQ %|VHZLFKW JLEWMHPDQGHPHLQH2KUIHLJH XQG GD LVW QXQ GHU %HWUHIIHQGH IU VHLQ JDQ]HV /HEHQ HQWHKUW XQG NDQQ GLH 6FKPDFK QXU GXUFK %OXW DEZDVFKHQ RGHU GDGXUFK GD GHU DQGUH LKQ DXI GHQ .QLHQ XP 9HU]HLKXQJ ELWWHW 1DFK PHLQHU $QVLFKW LVW GDV DEJHVFKPDFNW HLQ GHVSRWLVFKHU =ZDQJ $XI GLHVHU $QVFKDXXQJ EHUXKW /HUPRQWRZV 'UDPD ¾'HU 0DVNHQEDOO½ PHLQHU $QVLFKW QDFK HLQGXPPHV6WFN'DVKHLWLFKZLOOVDJHQHLQXQQDWUOLFKHV
6WFN$EHUHUZDUMDEHLQDKQRFKHLQ.LQGDOVHUHVVFKULHE© ª6HKU JXW JHIlOOW PLU ,KUH 6FKZHVWHU© ª:LH VLH *DQMD LQV *HVLFKWJHVSXFNWKDW-D:DUMDLVWWDSIHU$EHU6LHKDEHQLKP QLFKW LQV *HVLFKW JHVSXFNW XQG LFK ELQ GRFK EHU]HXJW GD 6LHHVQLFKWDXV0DQJHODQ0XWXQWHUODVVHQKDEHQ$EHUGDLVW VLHVHOEVWGHU:ROILQGHU)DEHO ,FK ZXWH GD VLH NRPPHQ ZUGH VLH KDW HLQHQ XQVFKXOGLJHQ &KDUDNWHU ZHQQ VLH DXFK LKUH)HKOHUEHVLW]W© ª'XKDVWKLHUQLFKWV]XVXFKHQ©ILHO:DUMD]XHUVWEHU.ROMD KHU ª*HK ]XP 9DWHU %HOlVWLJW HU 6LH )UVW"© ª'XUFKDXV QLFKW LP *HJHQWHLO© ª1D DOVR ZDV UHGHVW GX YHUHKUWH lOWHUH 6FKZHVWHU 'DV LVW VR HLQH KlOLFKH (LJHQVFKDIW DQ LKU hEULJHQVGDFKWHLFKGHU9DWHUZUGHEHVWLPPW PLW 5RJRVKLQ ZHJJHKHQ:DKUVFKHLQOLFKEHUHXWHUMHW]WVFKRQHVQLFKWJHWDQ ]X KDEHQ ,FK ZLOO PDO ]XVHKHQ ZLH HV PLW LKP VWHKW© IJWH .ROMDKLQ]XXQGJLQJKLQDXV ª*RWWVHL'DQNLFKKDEH0DPD IRUWJHEUDFKW XQG YHUDQODW VLFK LQV %HWW ]X OHJHQ XQG HV LVW QLFKWV ZHLWHU YRUJHNRPPHQ *DQMD LVW YHUOHJHQ XQG VHKU QDFKGHQNOLFK8QGHUKDWDXFKDOOHQ*UXQGGD]X:DVKDWHUGD IU HLQH /HKUH HUKDOWHQ ,FK ELQ KHUJHNRPPHQ XP ,KQHQ QRFK HLQPDO ]X GDQNHQ )UVW XQG 6LH ]X IUDJHQ KDWWHQ 6LH 1DVWDVMD )LOLSSRZQD YRUKHU QRFK JDU QLFKW JHNDQQW"© ª1HLQ QRFKJDUQLFKW© ª:LHNRPPHQ6LH GDQQ GD]X LKU JHUDGH LQV *HVLFKW]XVDJHQGDGDVQLFKWLKUZDKUHV:HVHQVHL"8QG6LH KDEHQ ZLH HV VFKHLQW GDPLW GDV 5LFKWLJH JHWURIIHQ 6LH LVW YLHOOHLFKW ZLUNOLFK DQGHUV DOV VLH VFKHLQHQ ZROOWH hEULJHQV ZHUGH LFK QLFKW DXV LKU NOXJ 6LH EHDEVLFKWLJWH VLFKHUOLFK XQV ]XEHOHLGLJHQGDVLVWNODU,FKKDEHDXFKIUKHUVFKRQPDQFKHV 6HOWVDPH EHU VLH JHK|UW $EHU ZHQQ VLH KHUJHNRPPHQ ZDU XP XQV HLQ]XODGHQ ZLH NRQQWH VLH VLFK GDQQ ]XHUVW JHJHQ 0DPDVREHQHKPHQ"3WL]\QNHQQWVLHJDQ]JHQDXDEHUHUVDJW HUKDEHLKU9HUKDOWHQYRUKLQDXFKQLFKWYHUVWHKHQN|QQHQ8QG ZLHEHQDKPVLHVLFKJHJHQ5RJRVKLQ"6RGDUIPDQGRFKQLFKW UHGHQ ZHQQ PDQ 6HOEVWDFKWXQJ EHVLW]W QRFK GD]X LP +DXVH
GHV HLJHQHQ 0DPD LVW HEHQIDOOV XP 6LH VHKU EHXQUXKLJW© ª(V KDW QLFKWV DXI VLFK© HUZLGHUWH GHU )UVW PLW HLQHU JHULQJVFKlW]LJHQ +DQGEHZHJXQJ ª8QG ZLH 6LH ,KQHQ JHKRUFKWH©ª,QZLHIHUQJHKRUFKWH"©ª6LHVDJWHQLKUVLHVROOH VLFK VFKlPHQ XQG GDUDXI lQGHUWH VLH VRIRUW LKU JDQ]HV %HQHKPHQ 6LH EHQ DXI VLH HLQHQ JHZDOWLJHQ (LQIOX DXV )UVW©IJWH:DUMDPLWHLQHPOHLVHQ/lFKHOQKLQ]X 'LH7U|IIQHWHVLFKXQGJDQ]XQHUZDUWHWWUDW*DQMDHLQ(U ZXUGHLQVHLQHP(QWVFKOXQLFKWHLQPDOZDQNHQGDOVHU:DUMD HUEOLFNWH QDFKGHP HU HLQH NOHLQH :HLOH DXI GHU 6FKZHOOH JHVWDQGHQ KDWWH JLQJ HU HQWVFKORVVHQ DXI GHQ )UVWHQ ORV ª)UVWLFKKDEHPLFKXQZUGLJEHQRPPHQYHU]HLKHQ6LHPLU OLHEVWHU )UHXQG© VDJWH HU PLW ZDKUHU (PSILQGXQJ 6HLQH *HVLFKWV]JHGUFNWHQVWDUNHQ6FKPHU]DXV'HU)UVWVDKLKQ HUVWDXQWDQXQGDQWZRUWHWHQLFKWVRJOHLFKª1XQYHU]HLKHQ6LH PLUGRFKYHU]HLKHQ6LHPLUGRFK©GUlQJWH*DQMDXQJHGXOGLJ ª:HQQ6LHHVYHUODQJHQNVVHLFK,KQHQVRIRUWGLH+DQG© 'HU )UVW ZDU DXHURUGHQWOLFK EHUUDVFKW XQG XPDUPWH *DQMDVFKZHLJHQG%HLGHNWHQHLQDQGHUKHU]OLFK ª,FKKlWWH QLH QLH JHGDFKW GD 6LH HLQ VROFKHU 0HQVFK VLQG© VDJWH GHU )UVWHQGOLFKPKVDP$WHPKROHQGª,FKPHLQWH6LHVHLHQ GHVVHQQLFKWIlKLJ©ª8P9HU]HLKXQJ]XELWWHQ":LHELQLFK QXU KHXWH GDUDXI JHNRPPHQ 6LH IU HLQHQ ,GLRWHQ ]X KDOWHQ 6LHEHPHUNHQYLHOHVZDVDQGHUH0HQVFKHQQLHPDOVEHDFKWHQ ,FK N|QQWH PLW ,KQHQ HWZDV EHVSUHFKHQ DEHU HV LVW GRFK ZRKOEHVVHUZHQQLFKHVQLFKWWXH©ª'DLVWQRFKMHPDQGEHL GHP6LHVLFKHQWVFKXOGLJHQVROOWHQ©VDJWHGHU)UVWDXI:DUMD ZHLVHQG ª1HLQ GLH VLQG QXQ HLQPDO PHLQH )HLQGH *ODXEHQ 6LH PLU )UVW LFK KDEH RIW YHUVXFKW XQVHU 9HUKlOWQLV ]X EHVVHUQ DEHU DXIULFKWLJH 9HU]HLKXQJ VXFKW PDQ GD YHUJHEHQV©ULHI*DQMDKHIWLJ (U ZDQGWH VLFK YRQ :DUMD ]XU 6HLWH DE ª1LFKW GRFK LFK YHU]HLKH GLU© VDJWH :DUMD SO|W]OLFK ª8QG ZLUVW GX KHXWH DEHQG ]X 1DVWDVMD )LOLSSRZQD NRPPHQ"© ª:HQQ GX HV
YHUODQJVW ZHUGH LFK KLQNRPPHQ DEHU EHUOHJH VHOEVW RE LFK QDFK GHP 9RUJHIDOOHQHQ EHUKDXSW HLQH 0|JOLFKNHLW KDEH GRUW ]X HUVFKHLQHQ© ª6LH LVW MD GRFK QLFKW VR ZLH VLH WDW 'X VLHKVW MD VLH ZLOO HLQHP LPPHU 5lWVHO DXIJHEHQ 6SLHJHOIHFKWHUHL© *DQMD OlFKHOWH ERVKDIW ª,FK ZHL VHOEVW GDVLHQLFKWVRLVWXQGGDVLH6SLHJHOIHFKWHUHLWUHLEWDEHUZDV IU ZHOFKH 8QG GDQQ EHGHQNH QRFK HLQHV *DQMD ZRIU KlOW VLH GLFK VHOEVW" 0DJ DXFK YLHOHV DQ LKUHP %HQHKPHQ QXU 6SLHJHOIHFKWHUHL VHLQ XQG PDJ VLH DXFK 0DPD GLH +DQG JHNWKDEHQDEHUVLHKDWVLFKGRFKEHUGLFKOXVWLJJHPDFKW 'DV ZLUG GXUFK GLH IQIXQGVLHE]LJWDXVHQG 5XEHO QLFKW DXIJHZRJHQ%UXGHUEHL*RWWQLFKW'XELVWQRFKDQVWlQGLJHU (PSILQGXQJHQ IlKLJ GDUXP VDJH LFK GLU GDV )DKUH GX GRFK DXFK QLFKW VHOEVW KLQ +WH GLFK YRU LKU 'DV NDQQ QLFKW JXW DXVJHKHQ© 1DFK GLHVHQ :RUWHQ YHUOLH :DUMD VFKQHOO XQG LQ JURHU $XIUHJXQJ GDV =LPPHU ª6R VLQG PHLQH 0XWWHU XQG PHLQH 6FKZHVWHU LPPHU© VDJWH *DQMD OlFKHOQG ª2E VLH ZLUNOLFK GHQNHQ GD LFK GDV QLFKW DXFK VHOEVW ZHL" ,FK ZHL VRJDU QRFKYLHOPHKUDOVVLH© $OV *DQMD GDV JHVDJW KDWWH VHW]WH HU VLFK DXI GDV 6RID LQ GHP RIIHQVLFKWOLFKHQ :XQVFK VHLQHQ %HVXFK QRFK OlQJHU DXV]XGHKQHQ ª:HQQ 6LH GDV VHOEVW ZLVVHQ© IUDJWH GHU )UVW UHFKWVFKFKWHUQªZDUXPKDEHQ6LHVLFKGDQQ]XHLQHUVROFKHQ 0DWWHUHQWVFKORVVHQYRQGHU6LHVHOEVWJODXEHQGDVLHGXUFK IQIXQGVLHE]LJWDXVHQG 5XEHO WDWVlFKOLFK QLFKW DXIJHZRJHQ ZLUG"© ª'DYRQ P|FKWH LFK QLFKW UHGHQ© PXUPHOWH *DQMD hEULJHQVVDJHQ6LHPLUGRFK ZLH 6LH VHOEVW GDUEHU GHQNHQ LFK P|FKWH JHUQ ,KUH 0HLQXQJ GDUEHU NHQQHQOHUQHQ ZLUG GLHVH¾0DUWHU½ GXUFKIQIXQGVLHE]LJWDXVHQG5XEHODXIJHZRJHQ RGHUQLFKW"©ª0HLQHU$QVLFKWQDFKQLFKW©ª1XQGDVOLHVLFK GHQNHQ 8QG XQWHU VROFKHQ 8PVWlQGHQ ]X KHLUDWHQ PX PDQ VLFK VFKlPHQ"© ª$OOHUGLQJV VHKU© ª1XQ GDQQ P|JHQ 6LH ZLVVHQ GD LFK VLH KHLUDWHQ ZHUGH MHW]W JDQ] VLFKHU 9RUKLQ
ZDU LFK QRFK VFKZDQNHQG DEHU MHW]W QLFKW PHKU 6DJHQ 6LH NHLQ:RUW,FKZHLZDV6LHVDJHQZROOHQ©ª,FKZLOOQLFKW EHUGHQMHQLJHQ3XQNWUHGHQYRQGHP6LHDQQHKPHQGDLFK PLFK EHU LKQ lXHUQ ZLOO LFK ZXQGHUH PLFK QXU EHU ,KUH DXHURUGHQWOLFKH =XYHUVLFKW © ª=XYHUVLFKW ZRUDXI" :DV IU HLQH =XYHUVLFKW"© ª'D 1DVWDVMD )LOLSSRZQD 6LH EHVWLPPW KHLUDWHQ ZLUG XQG GLH JDQ]H 6DFKH EHUHLWV IHVWVWHKW XQG ]ZHLWHQV DXFK ZHQQ VLH ,KUH )UDX ZHUGHQ VROOWH GD GLH IQIXQGVLHE]LJWDXVHQG 5XEHO GDQQ VR RKQH ZHLWHUHV JHUDGHVZHJVLQ,KUH7DVFKHJHODQJHQZHUGHQhEULJHQVLVWPLU QDWUOLFKKLHUYLHOHVQLFKWEHNDQQW© *DQMDPDFKWHHLQHKHIWLJH%HZHJXQJQDFKGHP)UVWHQKLQ ª1DWUOLFK LVW ,KQHQ QLFKW DOOHV EHNDQQW© VDJWH HU ª:DUXP ZUGH LFK GHQQ VRQVW GLHVH JDQ]H %UGH DXI PLFK QHKPHQ"© ª,FK PHLQH HV LVW HLQ VHKU KlXILJHU 9RUJDQJ GD MHPDQG XP GHV *HOGHV ZLOOHQ KHLUDWHW XQG GDV *HOG LQ GHQ +lQGHQ GHU )UDXEOHLEW©ª1HLQEHLXQVZLUGHVDQGHUVVHLQ+LHUKLHU OLHJHQ 8PVWlQGH YRU © PXUPHOWH *DQMD LQ XQUXKLJHP 1DFKGHQNHQEHIDQJHQ ª8QG ZDV LKUH $QWZRUW DQODQJW VR LVW GDUDQ NHLQ =ZHLIHO PHKU P|JOLFK© IJWH HU VFKQHOO KLQ]X :RUDXV VFKOLHHQ 6LH GD VLH PLU HLQHQ .RUE JHEHQ ZLUG"© ª,FK ZHL QLFKWV DOV GDV ZDV LFK JHVHKHQ KDEH $EHU DXFK :DUZDUD$UGDOLRQRZQDKDWVRHEHQJHVDJW©ª%DKGDVUHGHQ GLH :HLEHU VR KLQ RKQH ]X ZLVVHQ ZDV VLH VDJHQ $EHU EHU 5RJRVKLQKDWVLHVLFKOXVWLJJHPDFKWGDVN|QQHQ6LHJODXEHQ GDV LVW PLU NODUJHZRUGHQ 'DV ZDU GHXWOLFK ]X PHUNHQ ,FK KDWWH YRUKLQ PHLQH %HVRUJQLVVH DEHU MHW]W LVW PLU GLH 6DFKH NODUJHZRUGHQ 2GHU PHLQHQ 6LH YLHOOHLFKW ZLH VLH VLFK JHJHQ GLH0XWWHUGHQ9DWHUXQG:DUMDEHQRPPHQKDW"©ª8QGJHJHQ 6LH© ª(V PDJ VHLQ DEHU GDV ZDU QXU JHZ|KQOLFKH ZHLEOLFKH 5DFKVXFKW ZHLWHU QLFKWV 6LH LVW HLQ VFKUHFNOLFK UHL]EDUHV DUJZ|KQLVFKHV HLWOHV :HLE :LH HLQ EHL GHU %HI|UGHUXQJ EHUJDQJHQHU %HDPWHU 6LH ZROOWH VLFK ]HLJHQ XQG LKQHQ LKUH JDQ]H*HULQJVFKlW]XQJEHZHLVHQQDXQGPLUDXFKGDVLVWMD
ULFKWLJGDVEHVWUHLWHLFKQLFKW$EHUWURW]GHPZLUGVLHPLFK KHLUDWHQ 6LH DKQHQ JDU QLFKW ZHOFKHQ 7lXVFKXQJHQ GLH PHQVFKOLFKH(LWHONHLWXQWHUZRUIHQLVWGDKlOWVLHPLFKQXQIU HLQHQ6FKXIWZHLOLFKVLHGLH *HOLHEWHHLQHVDQGHUQ VR RIIHQ LKUHV*HOGHVZHJHQQHKPHXQGZHLQLFKWGDHLQDQGHUHUVLH LQ QRFK JHPHLQHUHU :HLVH EHZUEH HU ZUGH VLFK DQ VLH KHUDQPDFKHQXQGVLHPLWOLEHUDOHQIRUWVFKULWWOLFKHQ5HGHUHLHQ EHUVFKWWHQXQGDOOHUOHL)UDXHQIUDJHQHU|UWHUQVRGDVLHLKP VFKOLHOLFKZLHHLQ)DGHQGXUFKV1DGHO|KUJHKW(UZUGHGHU HLWOHQ 1lUULQ HLQUHGHQ XQG GDV LVW VR OHLFKW GD HU VLH QXU ¾ZHJHQ LKUHV HGOHQ +HU]HQV XQG ZHJHQ LKUHV 8QJOFNV½ QHKPH ZUGH VLH DEHU GDEHL GRFK XP GHV *HOGHV ZLOOHQ KHLUDWHQ ,FK JHIDOOH LKU QLFKW ZHLO LFK ]XP 6FKZDQ]ZHGHOQ NHLQH /XVW KDEH ZDV GRFK QW]OLFK ZlUH $EHU ZDV WXW VLH GHQQ VHOEVW" 7XW VLH QLFKW JDQ] GDVVHOEH" $OVR ZHQQ GHP VR LVWZDUXPYHUDFKWHWVLHPLFKGDQQXQGWUHLEWHLQVROFKHV6SLHO PLW PLU" 'HVZHJHQ ZHLO LFK VHOEVW PLFK QLFKW XQWHUZHUIH VRQGHUQPHLQHQ6WRO]KHUDXVNHKUH1XQZLUZHUGHQMDVHKHQ© ª+DEHQ6LHVLHGHQQ IUKHUZLUNOLFK JHOLHEW"© ª$QIDQJV KDEH LFKVLHJHOLHEW$EHU JHQXJGDYRQ(V JLEWHEHQ )UDXHQ GLH QXU ]X *HOLHEWHQ WDXJHQ XQG ]X ZHLWHU QLFKWV ,FK VDJH QLFKW GD VLH PHLQH *HOLHEWH JHZHVHQ ZlUH :HQQ VLH IULHGIHUWLJ OHEHQZLOOZHUGHLFKDXFKIULHGIHUWLJOHEHQDEHUZHQQVLHVLFK DXIOHKQWZHUGHLFKPLFKVRIRUWYRQLKUORVVDJHQXQGGDV*HOG IUPLFKEHKDOWHQ/lFKHUOLFKZLOOLFKPLFKQLFKWPDFKHQGDV DP DOOHUZHQLJVWHQ© ª(V ZLOO PLU GRFK VFKHLQHQ© EHPHUNWH GHU)UVWYRUVLFKWLJªGD1DVWDVMD)LOLSSRZQDHLQJDQ]NOXJHV :HLELVW:R]XVROOWHVLHZHQQVLHVROFKH0DUWHUYRUDXVVLHKW LQ GLH )DOOH JHKHQ" 6LH N|QQWH MD GRFK DXFK HLQHQ DQGHUQ KHLUDWHQ,FKZXQGHUHPLFKGD6LHGLHVH0|JOLFKNHLWQLFKWLQ %HWUDFKW]LHKHQ©ª'DVKDWVFKRQVHLQH*UQGH6LHZLVVHQLQ GLHVHU$QJHOHJHQKHLWQLFKWDOOHV)UVWXQGDXHUGHPJODXEW VLH IHVW GD LFK VLH ZDKQVLQQLJ OLHEH GDV VFKZ|UH LFK ,KQHQ 8QGZLVVHQ6LHLFKYHUPXWHVWDUNGDDXFKVLHPLFKOLHEWGDV
KHLW DXI LKUH $UW 6LH NHQQHQ GLH 5HGHQVDUW ¾:HQ LFK OLHEH GHQSUJOHLFK½6LHZLUGPLFKLKUJDQ]HV/HEHQODQJIUHLQHQ *DXQHU KDOWHQ XQG GDULQ KDW VLH MD DXFK YLHOOHLFKW UHFKW XQG PLFK GRFK DXI LKUH $UW OLHEHQ VLH WULIIW GD]X VFKRQ LKUH $QVWDOWHQ GDV OLHJW HLQPDO VR LQ LKUHP :HVHQ 6LH LVW HLQH HFKWH 5XVVLQ NDQQ LFK ,KQHQ VDJHQ QD XQG LFK EHUHLWH HLQH hEHUUDVFKXQJ IU VLH YRU 'LH 6]HQH YRQ YRUKLQ PLW :DUMD HUHLJQHWH VLFK MD JDQ] ]XIlOOLJ DEHU VLH ZLUG PLU YRQ 9RUWHLO VHLQVLHKDWMHW]WJHVHKHQXQGVLFKEHU]HXJWGDLFKLKUWUHXHU $QKlQJHUELQXQGXPLKUHWZLOOHQ DOOH%DQGH]HUUHLH ,FKELQ QlPOLFK DXFK JHUDGH NHLQ 'XPPNRSI GDV N|QQHQ 6LH PLU JODXEHQhEULJHQV6LHGHQNHQGRFKKRIIHQWOLFKQLFKWGDLFK HLQ DUJHU 6FKZlW]HU ELQ" ,FK KDEH YLHOOHLFKW WDWVlFKOLFK EHO GDUDQ JHWDQ OLHEVWHU )UVW GD LFK PLFK ,KQHQ VR JDQ] DQYHUWUDXH $EHU GDV NRPPW GDKHU GD 6LH GHU HUVWH DQVWlQGLJH0HQVFKVLQGDXIGHQLFKVHLWODQJHPJHVWRHQELQ XQGGDKDEHPLFKGHQQDXI6LHJHVWU]WGDVKHLWQHKPHQ6LH GLHVHV ¾LFK KDEH PLFK DXI 6LH JHVWU]W½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©ª,FKZHUGH 6LHMHW]WQLHPHKUIUHLQHQ6FKXIWKDOWHQ©YHUVHW]WHGHU)UVW ª9RUKLQ KLHOW LFK 6LH JHUDGH]X IU HLQHQ %|VHZLFKW XQG QXQ KDEHQ 6LH PLU SO|W]OLFK HLQH VR JURH )UHXGH JHPDFKW 'DV VROO PLU HLQH /HKUH VHLQ QLFKW DE]XXUWHLOHQ ZR HV HLQHP DQ
(UIDKUXQJ IHKOW -HW]W VHKH LFK GD PDQ 6LH QLFKW IU HLQHQ %|VHZLFKWKDOWHQGDUIVRQGHUQEHUKDXSWQLFKWQXUIUNHLQHQ EHVRQGHUV YHUGRUEHQHQ 0HQVFKHQ 6LH VLQG PHLQHU $QVLFKW QDFK HLQIDFK GHU JHZ|KQOLFKVWH 0HQVFK GHQ HV EHUKDXSW JHEHQNDQQQXUYLHOOHLFKWVHKUVFKZDFKDEHUYRQ2ULJLQDOLWlW NDQQNHLQH5HGHVHLQ© *DQMD OlFKHOWH LP VWLOOHQ VS|WWLVFK VFKZLHJ DEHU 'HU )UVW PHUNWH GD VHLQH $QWZRUW LKP QLFKW JHIDOOHQ KDWWH ZXUGH YHUOHJHQXQGYHUVWXPPWHJOHLFKIDOOVª+DWPHLQ9DWHU6LHXP *HOGJHEHWHQ"©IUDJWH*DQMD DXI HLQPDO ª1HLQ© ª(U ZLUG HV WXQDEHUJHEHQ6LHLKPQLFKWV8QGGRFKNDQQLFKPLFKQRFK DQGLH=HLWHULQQHUQZRHUHLQJDQ]DQVWlQGLJHU0DQQZDU(U KDWWH =XWULWW ]X GHQ EHVWHQ .UHLVHQ 8QG ZLH VFKQHOO HV PLW LKQHQ ]X (QGH JHKW PLW GLHVHQ DOWHQ DQVWlQGLJHQ /HXWHQ .DXPKDEHQVLFKGLH8PVWlQGHJHlQGHUWVRLVWDXFKYRQGHP IUKHUQQLFKWVPHKUYRUKDQGHQHVLVWZLHZHQQ6FKLHSXOYHU DEEUHQQW,FKYHUVLFKHUH ,KQHQHUKDWIUKHUQLFKWVRJHORJHQ IUKHUZDUHUQXUHLQHWZDVH[DOWLHUWHU0HQVFKXQGQXQVHKHQ 6LHZRKLQVLFKGDVVFKOLHOLFKHQWZLFNHOWKDW1DWUOLFKLVWGDV 7ULQNHQ GDUDQ VFKXOG :LVVHQ 6LH GD HU HLQH *HOLHEWH DXVKlOW" (U LVW MHW]W QLFKW PHKU HLQ EORHU XQVFKXOGLJHU $XIVFKQHLGHU ,FK NDQQ GLH /DQJPXW GHU 0XWWHU QLFKW EHJUHLIHQ+DWHU,KQHQYRQGHU%HODJHUXQJYRQ.DUVHU]lKOW" 2GHU GDYRQ ZLH EHL VHLQHU 7URLND GDV JUDXH 6HLWHQSIHUG ]X VSUHFKHQDQILQJ"6RZHLWYHUVWHLJWHUVLFK© 8QG *DQMD VFKWWHOWH VLFK DXI HLQPDO QXU VR YRU /DFKHQ ª:DUXP VHKHQ 6LH PLFK VR DQ"© IUDJWH HU GDQQ GHQ )UVWHQ ª,FK ZXQGHUH PLFK GDUEHU GD 6LH VR KHU]OLFK ODFKHQ ,KU /DFKHQ LVW ZLUNOLFK QRFK JDQ] NLQGOLFK $OV 6LH YRUKLQ KHUHLQNDPHQ XP VLFK PLW PLU ]X YHUV|KQHQ XQG VDJWHQ ¾:HQQ 6LH HV YHUODQJHQ NVVH LFK ,KQHQ GLH +DQG½ GDV ZDU JDQ] LQ GHU $UW ZLH .LQGHU VLFK DXVV|KQHQ $OVR VLQG 6LH VROFKHU:RUWHXQG(PSILQGXQJHQGRFKQRFKIlKLJ 8QGGDQQ ILQJHQ6LHDXIHLQPDODQPLUHLQHQJDQ]HQ9RUWUDJEHUGLHVH
GXQNOH +HLUDWVDQJHOHJHQKHLW XQG EHU GLHVH IQIXQGVLHE]LJWDXVHQG 5XEHO ]X KDOWHQ :DKUKDIWLJ GDV HUVFKHLQW DOOHV VR XQJHUHLPW XQG ZXQGHUOLFK© ª8QG ZDV VFKOLHHQ 6LH GDUDXV"© ª'D 6LH YLHOOHLFKW GRFK OHLFKWVLQQLJ KDQGHOQ XQG JXW WlWHQ GLH 6DFKH YRUKHU JUQGOLFK ]X EHUOHJHQ 0|JOLFKHUZHLVH KDW :DUZDUD $UGDOLRQRZQD GRFK UHFKW©ª$KVR(LQH(PSIHKOXQJGHU0RUDOLWlW'DLFKQRFK HLQ NOHLQHU -XQJH ELQ ZHL LFK VHOEVW© XQWHUEUDFK LKQ *DQMD HLIULJª'DVJHKWMDVFKRQGDUDXVKHUYRUGDLFKPLW,KQHQHLQ VROFKHV *HVSUlFK JHIKUW KDEH $EHU LFK JHKH QLFKW DXV %HUHFKQXQJ GLHVH (KH HLQ )UVW© IXKU HU VLFK YHUWHLGLJHQG IRUW ZLH HLQ LQ VHLQHP (KUJHIKO YHUOHW]WHU MXQJHU 0DQQ ª:HQQ LFK DXV %HUHFKQXQJ KDQGHOWH VR ZUGH LFK ZDKUVFKHLQOLFK)HKOHUGDEHLEHJHKHQGDZHGHUPHLQ9HUVWDQG QRFK PHLQ &KDUDNWHU EHUHLWV JHQJHQG HUVWDUNW VLQG ,FK WXH GLHVHQ 6FKULWW DXV /HLGHQVFKDIW DXV LQQHUHP 7ULHE ZHLO LFK VFKQHOO ]X HLQHP RUGHQWOLFKHQ .DSLWDO JHODQJHQ P|FKWH 6LH GHQNHQ ZRKO VRZLH LFK GLH IQIXQGVLHE]LJWDXVHQG 5XEHO EHNRPPHZHUGHLFKPLUVRIRUWHLQHQ:DJHQNDXIHQ1HLQLFK ZHUGH GDQQ PHLQHQ YRUYRUMlKULJHQ 5RFN UXKLJ ZHLWHUWUDJHQ XQGDOOHPHLQH.OXEEHNDQQWVFKDIWHQDXIJHEHQ%HLXQVJLEWHV DXFKXQWHUGHQ/HXWHQGLH*HOGJHVFKlIWHPDFKHQQXUZHQLJH GLH DXV]XKDOWHQ YHUVWHKHQ LFK DEHU ZLOO DXVKDOWHQ 'LH +DXSWVDFKH LVW GD GXUFKKDOWHQ ELV ]X (QGH GDULQ EHVWHKW GLH JDQ]H $XIJDEH 3WL]\Q KDW DOV MXQJHU 0HQVFK YRQ VLHE]HKQ -DKUHQDXIGHU6WUDH JHVFKODIHQPLW)HGHUPHVVHUQ JHKDQGHOW XQG PLW HLQHU .RSHNH DQJHIDQJHQ MHW]W EHVLW]W HU VHFK]LJWDXVHQG5XEHODEHUZDVKDWHUGD]XIU0KVHOLJNHLWHQ GXUFKPDFKHQ PVVHQ 6HKHQ 6LH DOO GLHVH 0KVHOLJNHLWHQ P|FKWH LFK EHUVSULQJHQ XQG JOHLFK PLW HLQHP .DSLWDO DQIDQJHQ1DFKIQI]HKQ-DKUHQZHUGHQGLH/HXWHVDJHQ¾'DV LVW ,ZROJLQ GHU JU|WH *HOGMXGH½ 9RUKLQ VDJWHQ 6LH ]X PLU LFKVHLNHLQRULJLQHOOHU0HQVFK0HUNHQ6LHVLFKOLHEHU)UVW GD HV IU HLQHQ $QJHK|ULJHQ XQVHUHV =HLWDOWHUV XQG XQVHUHV
9RONHVNHLQH JU|HUH %HOHLGLJXQJ JLEW DOV ZHQQ PDQ ]X LKP VDJW HU VHL QLFKW RULJLQHOO KDEH HLQHQ VFKZDFKHQ &KDUDNWHU EHVLW]H NHLQH EHVRQGHUHQ 7DOHQWH XQG VHL HLQ JDQ] JHZ|KQOLFKHU 0HQVFK 6LH KDEHQ PLU QLFKW HLQPDO GLH (KUH HUZLHVHQ PLFK IU HLQHQ ULFKWLJHQ 6FKXIW ]X KDOWHQ XQG LFK KlWWH 6LH YRUKLQ GDIU WRWVFKODJHQ P|JHQ ZLVVHQ 6LH 6LH KDEHQPLFKDUJHUEHOHLGLJWDOV-HSDQWVFKLQGHUPLFKIUIlKLJ KlOW LKP XQG ]ZDU RKQH ZHLWHUH 9HUKDQGOXQJHQ RKQH 9HUORFNXQJHQ DXV EORHU (LQIDOW PHLQH )UDX ]X YHUNDXIHQ 'DV 9HUODQJHQ QDFK HLQHP .DSLWDO PDFKW PLFK VFKRQ ODQJH UDVHQG XQG LFK ZLOO ZLOO *HOG KDEHQ :LVVHQ 6LH ZHQQ LFK HUVW ]X *HOG JHODQJW ELQ GDQQ ZHUGH LFK DXFK HLQ K|FKVW RULJLQHOOHU 0HQVFK VHLQ 'DV LVW MD JHUDGH GDV *HPHLQVWH XQG +DVVHQVZHUWHVWH DP *HOG GD HV VRJDU 7DOHQWH YHUOHLKW 8QG GLHZLUGHVYHUOHLKHQELVDQV(QGHGHU:HOW6LHZHUGHQVDJHQ GDV DOOHV VHL HLQH NLQGOLFKH RGHU YLHOOHLFKW SKDQWDVWLVFKH $XIIDVVXQJQXQJXWXPVRPHKU6SDZHUGHLFKGDYRQKDEHQ XQG GLH 6DFKH ZLUG WURW]GHP LQV :HUN JHVHW]W ZHUGHQ ,FK ZHUGHVLHGXUFKIKUHQXQGZHUGHDXVKDOWHQ5LUDELHQTXLULUD OH GHUQLHU :LH NRPPW -HSDQWVFKLQ GD]X PLFK LQ GLHVHU :HLVH ]X EHOHLGLJHQ" 7XW HU GDV HWZD DXV %RVKHLW" .HLQHVZHJVVRQGHUQHLQIDFKGHVKDOEZHLOLFKNHLQ*HOGKDEH 1DDEHUGDQQ$EHUQXQJHQXJHVLVW=HLWGDZLUDXIK|UHQ .ROMDKDWVFKRQ]ZHLPDOVHLQH1DVHKHUHLQJHVWHFNWHUZLOO6LH ]XP0LWWDJHVVHQUXIHQ8QGLFKPXDXVJHKHQ,FKZHUGH6LH PDQFKPDO EHVXFKHQ 6LH ZHUGHQ HV EHL XQV JDQ] JXW KDEHQ 6LH ZHUGHQ MHW]W JHUDGH]X LQ GLH )DPLOLH DXIJHQRPPHQ ZHUGHQ +WHQ 6LH VLFK QXU HWZDV ZHLWHU]XSODXGHUQ 0LU VFKHLQWGD6LHXQGLFKHQWZHGHUJXWH)UHXQGHRGHUHUELWWHUWH )HLQGH VHLQ ZHUGHQ :DV PHLQHQ 6LH )UVW ZHQQ LFK ,KQHQ YRUKLQ GLH +DQG JHNW KlWWH ZR]X LFK PLFK YRQ +HU]HQ HUERW ZlUH LFK GDQQ GHVZHJHQ ,KU )HLQG JHZRUGHQ"© ª8QEHGLQJW ZlUHQ 6LH GDV JHZRUGHQ DEHU QLFKW IU LPPHU
IU] :HU]XOHW]WODFKWODFKWDPEHVWHQ
VSlWHU ZUGHQ 6LH ,KUHQ 6LQQ JHlQGHUW XQG PLU YHU]LHKHQ KDEHQ©HUZLGHUWHGHU)UVWQDFKNXU]HP1DFKGHQNHQODFKHQG ª$KD 0LW ,KQHQ PX PDQ VHKU YRUVLFKWLJ VHLQ :HL GHU 7HXIHO 6LH KDEHQ DXFK LQ GLHVH $QWZRUW JOHLFK ZLHGHU HLQHQ 7URSIHQ*LIW JHWUlXIHOW8QG ZHU ZHL YLHOOHLFKW VLQG 6LH JDU PHLQ)HLQG"hEULJHQVKDKDKD ,FKYHUJD6LH]XIUDJHQLFK KDWWH GHQ (LQGUXFN GD 1DVWDVMD )LOLSSRZQD ,KQHQ DXHURUGHQWOLFKJXWJHILHOKDEHLFKUHFKW"© ª-D6LHKDWPLU JHIDOOHQ© ª+DEHQ 6LH VLFK LQ VLH YHUOLHEW"© ª1QHLQ© ª$EHU GDEHL LVW HU JDQ] URW JHZRUGHQ XQG PDFKW HLQ $UPHVQGHUJHVLFKW1XQHVWXWQLFKWVHVWXWQLFKWVLFKZHUGH PLFK QLFKW EHU 6LH OXVWLJ PDFKHQ $XI :LHGHUVHKHQ 8QG ZLVVHQ 6LH VLH LVW HLQ WXJHQGKDIWHV :HLE N|QQHQ 6LH GDV JODXEHQ" 6LH PHLQHQ ZRKO VLH OHEW PLW GHP 0HQVFKHQ GHP 7R]NLM]XVDPPHQ".HLQH6SXU6FKRQODQJHQLFKWPHKU$EHU KDEHQ 6LH ZRKO EHPHUNW GD VLH VHOEVW VHKU OLQNLVFK LVW XQG YRUKLQPDQFKPDOJDQ]YHUOHJHQZXUGH":LUNOLFK$EHUJHUDGH VROFKH :HLEHU VLQG EHVRQGHUV KHUUVFKVFKWLJ 1XQ OHEHQ 6LH ZRKO© *DQMD YHUOLH GDV =LPPHU ZHLW XQJH]ZXQJHQHU DOV HU KHUHLQJHNRPPHQZDUXQGLQJXWHU/DXQH'HU)UVWVDHWZD ]HKQ 0LQXWHQ ODQJ GD RKQH VLFK ]X UKUHQ XQG GDFKWH QDFK .ROMD VWHFNWH ZLHGHU GHQ .RSI GXUFK GLH 7U ª,FK P|FKWH QLFKW]X0LWWDJHVVHQ.ROMDLFKKDEHYRUKLQEHL-HSDQWVFKLQV JXWJHIUKVWFNW© .ROMD WUDW JDQ] GXUFK GLH 7U KHUHLQ XQG EHUUHLFKWH GHP )UVWHQ HLQ %LOOHWW (V NDP YRP *HQHUDO XQG ZDU ]XVDPPHQJHIDOWHW XQG YHUVLHJHOW (V ZDU GHP .QDEHQ DP *HVLFKW DQ]XVHKHQ GD HV LKP SHLQOLFK ZDU GDV %LOOHWW ]X EHUJHEHQ 'HU )UVW ODV HV GXUFK VWDQG DXI XQG JULII QDFK VHLQHP +XWH ª(V VLQG QXU HLQ SDDU 6FKULWWH© VDJWH .ROMD YHUOHJHQ ª(U VLW]W GRUW MHW]W EHL GHU )ODVFKH (V LVW PLU XQEHJUHLIOLFKZRGXUFKHUVLFKGD .UHGLW YHUVFKDIIW KDW %LWWH OLHEHU )UVW VDJHQ 6LH QDFKKHU PHLQHQ $QJHK|ULJHQ QLFKWV
GDYRQ GD LFK ,KQHQ GDV %LOOHWW ]XJHVWHOOW KDEH 7DXVHQGPDO KDEH LFK VFKRQ JHVFKZRUHQ VROFKH %LOOHWWH QLFKW PHKU ]X EHUEULQJHQDEHUHUWXWPLUGDQQGRFKLPPHUZLHGHUOHLG,FK P|FKWH ,KQHQ MHGRFK VDJHQ PDFKHQ 6LH ELWWH PLW LKP NHLQH 8PVWlQGHJHEHQ6LHLKPHLQH.OHLQLJNHLWGDQQLVWGLH6DFKH HUOHGLJW©ª'DVZDUDXFKPHLQ*HGDQNH.ROMD,FKPX,KUHQ 3DSD VSUHFKHQ DXV HLQHP EHVRQGHUHQ $QOD .RPPHQ 6LH©
;,, .ROMDIKUWHGHQ)UVWHQQDFKGHUQDKHJHOHJHQHQ/LWHMQDMD 6WUDH ]X HLQHP .DIIHHKDXV GDV LP (UGJHVFKR ODJ XQG VHLQHQ (LQJDQJ YRQ GHU 6WUDH KDWWH +LHU KDWWH $UGDOLRQ $OH[DQGURZLWVFKHVVLFKDOVDOWHU6WDPPJDVWUHFKWVLQGHU(FNH LQ HLQHP EHVRQGHUHQ =LPPHUFKHQ EHTXHP JHPDFKW YRU LKP DXI HLQHP 7LVFKFKHQ VWDQG HLQH )ODVFKH LQ GHU +DQG KLHOW HU ZLUNOLFK GLH ¾,QGHSHQGDQFH %HLJH½ (U KDWWH DXI GHQ )UVWHQ JHZDUWHWNDXPKDWWHHULKQHUEOLFNWOHJWHHUVRIRUWGLH=HLWXQJ EHLVHLWH XQG EHJDQQ HLQH HLIULJH ZRUWUHLFKH $XVHLQDQGHUVHW]XQJ YRQ GHU GHU )UVW EULJHQV IDVW QLFKWV YHUVWDQGZHLOGHU*HQHUDOVFKRQEHLQDKH ªIHUWLJ© ZDU ª=HKQ 5XEHOKDEHLFKQLFKW©XQWHUEUDFKLKQGHU)UVWª$EHUKLHULVW HLQ )QIXQG]ZDQ]LJUXEHOVFKHLQ ODVVHQ 6LH LKQ ZHFKVHOQ XQG JHEHQ 6LH PLU IQI]HKQ 5XEHO ]XUFN GD LFK VRQVW VHOEVW NHLQHQ*URVFKHQLQGHU7DVFKHKDEH©ª2JHZLXQGVHLHQ6LH EHU]HXJW GD LFK VFKOHXQLJVW © ª,FK KDEH DXHUGHP QRFK HLQH %LWWH DQ 6LH *HQHUDO 6LQG 6LH QLHPDOV EHL 1DVWDVMD )LOLSSRZQDJHZHVHQ"© ª,FK",FKVROOWHQLFKWGDJHZHVHQVHLQ" 'DV VDJHQ 6LH ]X PLU" 0HKUPDOV PHLQ /LHEHU PHKUPDOV©
ULHI GHU *HQHUDO LQ HLQHP $QIDOO YRQ VHOEVWJHIlOOLJHU WULXPSKLHUHQGHU ,URQLH ª$EHU LFK KDEH VFKOLHOLFK GLHVH %H]LHKXQJHQ VHOEVW DEJHEURFKHQ ZHLO LFK GLHVH XQJHK|ULJH 9HUELQGXQJQLFKWEHI|UGHUQPDJ6LH KDEHQ HV VHOEVW JHVHKHQ XQGZDUHQKHXWHPRUJHQ=HXJHLFKKDEHDOOHVJHWDQZDV HLQ 9DWHUWXQNRQQWHDEHUGDVZDUHLQPLOGHUQDFKJLHELJHU9DWHU MHW]WZLUGHLQ9DWHUYRQDQGHUHU$UWDXIGLH%KQHWUHWHQXQG GDQQ GDQQ ZROOHQ ZLU HLQPDO VHKHQ RE HLQ DOWHU YHUGLHQVWYROOHU .ULHJHU EHU GLH ,QWULJH REVLHJHQ RGHU GLH VFKDPORVH .DPHOLHQGDPH LQ HLQH KRFKDQVWlQGLJH )DPLOLH HLQGULQJHQ ZLUG© ª8QG LFK ZROOWH 6LH JHUDGH IUDJHQ RE 6LH DOV %HNDQQWHU 1DVWDVMD )LOLSSRZQDV PLFK QLFKW KHXWH DEHQG EHL LKU HLQIKUHQ N|QQWHQ ,FK PX KHXWH XQWHU DOOHQ 8PVWlQGHQKLQJHKHQLFKKDEHGDHWZDV]XWXQDEHULFKZHL VFKOHFKWHUGLQJV QLFKW ZLH LFK (LQOD ILQGHQ NDQQ ,FK ELQ LKU ]ZDU YRUKLQ YRUJHVWHOOW DEHU VLH KDW PLFK QLFKW HLQJHODGHQ XQG HV LVW GRUW KHXWH HLQH $EHQGJHVHOOVFKDIW QXU IU JHODGHQH *lVWH ,FK ELQ EULJHQV EHUHLW PLFK EHU PDQFKHUOHL 9RUVFKULIWHQ GHV JHVHOOVFKDIWOLFKHQ 9HUNHKUV KLQZHJ]XVHW]HQ XQG PLFK VRJDU DXVODFKHQ ]X ODVVHQ ZHQQ LFK QXU LUJHQGZLH KLQHLQNRPPH© ª6LH KDEHQ GD YROOVWlQGLJ DEHU DXFK YROOVWlQGLJ PHLQHQ HLJHQHQ *HGDQNHQ JHWURIIHQ PHLQ MXQJHU )UHXQG©ULHIGHU*HQHUDOJDQ]EHJHLVWHUW ª,FKKDEH6LHQLFKW ZHJHQGLHVHU.OHLQLJNHLWKHUUXIHQODVVHQ©IXKU HUIRUWLQGHP HUGLHIQIXQG]ZDQ]LJ5XEHOQDKPXQGLQGLH7DVFKHVWHFNWH ªVRQGHUQ JHUDGH XP 6LH ]X HLQHP JHPHLQVDPHQ %HVXFK EHL 1DVWDVMD )LOLSSRZQD RGHU EHVVHU JHVDJW ]X HLQHP JHPHLQVDPHQ )HOG]XJ JHJHQ 1DVWDVMD )LOLSSRZQD DXI]XIRUGHUQ *HQHUDO ,ZROJLQ XQG )UVW 0\VFKNLQ :DV IU HLQ *HVLFKW VLH PDFKHQ ZLUG 0LW 5FNVLFKW DXI LKUHQ *HEXUWVWDJ ZHUGH LFK LQ OLHEHQVZUGLJVWHU )RUP VFKOLHOLFK GRFKPHLQHQ:LOOHQ]XP$XVGUXFNEULQJHQLQGLUHNWQLFKWVR JHUDGHKHUDXVDEHU GLH :LUNXQJ ZLUG GLHVHOEH VHLQ ZLH ZHQQ LFK JHUDGHKHUDXV VSUlFKH 'DQQ PDJ *DQMD VLFK VHOEVW
HQWVFKHLGHQZLHHUVLFKYHUKDOWHQZLOODXIGHUHLQHQ6HLWHVHLQ 9DWHU HLQ KRFKYHUGLHQWHU XQG VR]XVDJHQ XQG VR ZHLWHU DXI GHU DQGHUQ 6HLWH $EHU ZDV NRPPHQ PX GDV NRPPH ,KU *HGDQNH LVW DXHURUGHQWOLFK YLHOYHUVSUHFKHQG 8QG XP QHXQ 8KU ZROOHQ ZLU XQV KLQEHJHEHQ ZLU KDEHQ QRFK =HLW© ª:RZRKQWVLHGHQQ"©ª:HLWYRQKLHUEHLP*URHQ7KHDWHU LP+DXVHGHU)UDX0\WRZ]RZDIDVWDXIGHP3ODW]HVHOEVWLQ GHU%HOHWDJH(VZLUGNHLQHJURH*HVHOOVFKDIWGDVHLQREZRKO HV LKU *HEXUWVWDJ LVW XQG GLH *lVWH ZHUGHQ IUK]HLWLJ DXIEUHFKHQ© (V ZDU VFKRQ OlQJVW $EHQG GHU )UVW VD QRFK LPPHU GD XQG ZDUWHWH GDUDXI GD GHU *HQHUDO DXIVWHKHQ ZUGH DEHU GLHVHUEHJDQQHLQHHQGORVH0HQJHYRQ$QHNGRWHQ]XHU]lKOHQ RKQH HLQH HLQ]LJH ]X (QGH ]X EULQJHQ %HL GHU $QNXQIW GHV )UVWHQKDWWHHUVLFKHLQHQHXH)ODVFKHJHEHQODVVHQGLHHUHUVW QDFK HLQHU 6WXQGH JHOHHUW KDWWH GDQQ YHUODQJWH HU QRFK HLQH GULWWHXQGWUDQNDXFKGLHVHDXV 0DQ NDQQ VLFK OHLFKW GHQNHQ GD GHU *HQHUDO GDEHL =HLW IDQG IDVW VHLQH JDQ]H /HEHQVJHVFKLFKWH]XHU]lKOHQ(QGOLFKVWDQGGHU)UVWDXIXQG HUNOlUWH HU N|QQH QLFKW OlQJHU ZDUWHQ 'HU *HQHUDO WUDQN GHQ OHW]WHQ5HVWDXVVHLQHU)ODVFKHDXVHUKREVLFKXQGYHUOLHPLW VHKU XQVLFKHUHQ 6FKULWWHQ GDV =LPPHU 'HU )UVW ZDU YHU]ZHLIHOW (V ZDU LKP MHW]W XQEHJUHLIOLFK ZLH HU KDWWH VR GXPP VHLQ N|QQHQ DXI GLHVHQ 0HQVFKHQ VHLQ 9HUWUDXHQ ]X VHW]HQ,Q:LUNOLFKNHLWKDWWHHUMDDXFKQLHVHLQ9HUWUDXHQDXI LKQJHVHW]WHUKDWWHQXULQVRIHUQDXIGHQ*HQHUDOJHUHFKQHWDOV HU JHKRIIW KDWWH GXUFK GHVVHQ %HLKLOIH (LQOD EHL 1DVWDVMD )LOLSSRZQD ]X ILQGHQ ZHQQ DXFK PLW HWZDV XQDQJHQHKPHP $XIVHKHQDEHUHUKDWWHQLFKWHUZDUWHWGDGHU*HQHUDOVLFKLQ HLQHP GHUDUWLJ VNDQGDO|VHQ =XVWDQGH EHILQGHQ ZHUGH HU ZDU Y|OOLJ EHWUXQNHQ HQWZLFNHOWH HLQH JURH 5HGVHOLJNHLW XQG VSUDFKRKQH8QWHUEUHFKXQJVHKUJHIKOYROOMDZHLQHUOLFK6HLQ 7KHPD ZDU GDEHL IRUWZlKUHQG GLHVHV GXUFK GDV VFKOHFKWH %HQHKPHQ DOO VHLQHU )DPLOLHQPLWJOLHGHU VHL DOOHV ]XJUXQGH
JHJDQJHQ XQG HV VHL HQGOLFK =HLW GHP HLQ (QGH ]X PDFKHQ (QGOLFK WUDWHQ VLH DXI GLH /LWHMQDMD6WUDH KLQDXV 'DV 7DXZHWWHU GDXHUWH QRFK DQ HLQ EHGUFNHQGHU ZDUPHU IHXFKW ULHFKHQGHU :LQG SILII GXUFK GLH 6WUDHQ GLH .XWVFKHQ SODWVFKWHQ LP 6FKPXW] GLH +XIVFKOlJH GHU 7UDEHU XQG .DUUHQJlXOH HUW|QWHQ PLW KHOOHP .ODQJ DXI GHP 3IODVWHU 'LH )XJlQJHU ZDQGHUWHQ WUEVHOLJ XQG GXUFKQlW GLH *HKVWHLJH HQWODQJ 0DQ EHJHJQHWH HLQ]HOQHQ %HWUXQNHQHQ ª6HKHQ 6LH ZRKO GLHVH HUOHXFKWHWHQ %HOHWDJHQ"© VDJWH GHU *HQHUDO ª+LHU ZRKQHQ EHUDOO PHLQH .DPHUDGHQ XQG LFK GHU LFK DP OlQJVWHQ YRQ LKQHQ JHGLHQW XQG DP PHLVWHQ GXUFKJHPDFKW KDEHLFKVFKOHSSHPLFK]X)XQDFKGHP*URHQ7KHDWHULQ GLH :RKQXQJ HLQHV ]ZHLGHXWLJHQ )UDXHQ]LPPHUV (LQ 0DQQ GHUGUHL]HKQ.XJHOQLQGHU %UXVWKDW 6LH JODXEHQ HV QLFKW" 8QG GRFK KDW HLQ]LJ XP PHLQHWZLOOHQ 3LURJRZ QDFK 3DULV WHOHJUDILHUW XQG VHLQH $XIPHUNVDPNHLW GHP EHODJHUWHQ 6HZDVWRSRO HLQH =HLWODQJ HQW]RJHQ XQG 1HODWRQ GHU 3DULVHU +RIDU]W KDW VLFK LP 1DPHQ GHU :LVVHQVFKDIW IUHLHV *HOHLW YHUVFKDIIWXQGLVWLQGDVEHODJHUWH6HZDVWRSROJHNRPPHQXP PLFK]XXQWHUVXFKHQ¾$FKGDVLVWMHQHU,ZROJLQGHUGUHL]HKQ .XJHOQLP /HLEHKDW½VR UHGHQGLH /HXWHYRQPLU6HKHQ 6LH ZRKO GLHVHV +DXV KLHU )UVW" +LHU ZRKQW LQ GHU %HOHWDJH HLQ DOWHU .DPHUDG YRQ PLU *HQHUDO 6RNRORZLWVFK PLW VHLQHU ]DKOUHLFKHQ SUlFKWLJHQ )DPLOLH 'LHVHV +DXV XQG QRFK GUHL +lXVHU DXI GHP 1HZVNLM3URVSHNW XQG ]ZHL LQ GHU 0RUVNDMD 6WUDH GLH ELOGHQ MHW]W PHLQHQ JDQ]HQ %HNDQQWHQNUHLV :HQQ LFK VDJH ¾PHLQHQ½ VR EH]LHKW VLFK GDV QXU DXI PHLQH HLJHQH 3HUVRQ 1LQD $OH[DQGURZQD KDW VLFK VFKRQ OlQJVW GHQ 9HUKlOWQLVVHQ JHIJW $EHU LFK JHEH PLFK LPPHU QRFK LQ GHU JHELOGHWHQ *HVHOOVFKDIW PHLQHU HKHPDOLJHQ .DPHUDGHQ XQG 8QWHUJHEHQHQ GLH PLFK ELV DXI GHQ KHXWLJHQ 7DJ YHUJ|WWHUQ PHLQHQ (ULQQHUXQJHQ KLQ XQG ILQGH GD VR]XVDJHQ PHLQH (UKROXQJ 'LHVHU *HQHUDO 6RNRORZLWVFK ± LFK ELQ EULJHQV
%HGHXWHQGHUUXVVLVFKHU&KLUXUJXQG$QDWRP
VFKRQ ODQJH QLFKW PHKU EHL LKP JHZHVHQ XQG KDEH $QQD )MRGRURZQD JHUDXPH =HLW QLFKW JHVHKHQ ZLVVHQ 6LH OLHEHU )UVW ZHQQ PDQ VHOEVW QLFKW PHKU HPSIlQJW GDQQ K|UW PDQ DXFK XQZLOONUOLFK DXI EHL DQGHUHQ %HVXFKH ]X PDFKHQ ,QGHVVHQ KP 6LH VFKHLQHQ PLU QLFKW ]X JODXEHQ hEULJHQV ZDUXP VROOWH LFK GHQ 6RKQ PHLQHV EHVWHQ )UHXQGHV XQG -XJHQGJHVSLHOHQ QLFKW LQ GLHVH HQW]FNHQGH )DPLOLH HLQIKUHQ" *HQHUDO ,ZROJLQ XQG )UVW 0\VFKNLQ 6LH ZHUGHQ HLQ UHL]HQGHV MXQJHV 0lGFKHQ NHQQHQOHUQHQ RGHU YLHOPHKU QLFKW HLQHV VRQGHUQ ]ZHL MD GUHL GLH =LHUGHQ GHU 5HVLGHQ] XQGGHUYRUQHKPHQ*HVHOOVFKDIW6FK|QKHLW%LOGXQJPRGHUQH 5LFKWXQJ)UDXHQIUDJH3RHVLH DOO GDV KDW VLFK EHL LKQHQ ]X HLQHUJOFNOLFKHQEXQWHQ0LVFKXQJYHUHLQLJWJDQ]DEJHVHKHQ YRQGHQDFKW]LJWDXVHQG5XEHOQ0LWJLIWLQEDUHP*HOGIUMHGH YRQLKQHQZDVWURW]DOOHU)UDXHQIUDJHQXQGVR]LDOHQ3UREOHPH QLHPDOV VFKDGHQ NDQQ PLW HLQHP :RUW LFK IKOH PLFK XQEHGLQJW YHUSIOLFKWHW XQG YHUEXQGHQ 6LH HLQ]XIKUHQ *HQHUDO ,ZROJLQ XQG )UVW 0\VFKNLQ© ª-HW]W" -HW]W JOHLFK" $EHU 6LH KDEHQ YHUJHVVHQ © EHJDQQ GHU )UVW ª1LFKWV QLFKWV KDEH LFK YHUJHVVHQ :LU ZROOHQ KLQJHKHQ +LHU GLHVH SUDFKWYROOH7UHSSHKLQDXI,FKZXQGHUHPLFKGDNHLQ3RUWLHU GD LVW DEHU IUHLOLFK HV LVW HLQ )HLHUWDJ XQG GD KDW VLFK GHU 3RUWLHU GDYRQJHPDFKW 6LH KDEHQ GLHVHQ 7UXQNHQEROG LPPHU QRFKQLFKWZHJJHMDJW'LHVHU6RNRORZLWVFKYHUGDQNWGDVJDQ]H *OFN VHLQHV /HEHQV XQG VHLQHU .DUULHUH PLU PLU DOOHLQ XQG VRQVWQLHPDQG$EHUGDVLQGZLUVFKRQ© 'HU )UVW HUKRE NHLQH (LQZHQGXQJHQ PHKU JHJHQ GHQ %HVXFK XQG IROJWH GHP *HQHUDO JHKRUVDP XP LKQ QLFKW ]X UHL]HQLQGHU IHVWHQ +RIIQXQJ GD GHU *HQHUDO 6RNRORZLWVFK XQG VHLQH JDQ]H )DPLOLH DOOPlKOLFK ZLH HLQH /XIWVSLHJHOXQJ YHUVFKZLQGHQXQGVLFKDOV QLFKW H[LVWLHUHQG HUZHLVHQ ZUGHQ VR GD VLH GDQQ UXKLJ GLH 7UHSSH ZLHGHU KLQXQWHUVWHLJHQ N|QQWHQ$EHU]XVHLQHP6FKUHFNHQ PXWH HU GLHVH +RIIQXQJ DXIJHEHQ GHU *HQHUDO IKUWH LKQ GLH 7UHSSH KLQDXI ZLH
MHPDQG GHU GD ZLUNOLFK %HNDQQWH KDWWH XQG VFKDOWHWH DOOH $XJHQEOLFNH GHWDLOOLHUWH %HPHUNXQJHQ ELRJUDSKLVFKHQ XQG WRSRJUDSKLVFKHQ,QKDOWVHLQGLHGHQ(LQGUXFNPDWKHPDWLVFKHU *HQDXLJNHLW PDFKWHQ $OV VLH HQGOLFK LQ GHU %HOHWDJH DQJHODQJW ZDUHQ XQG UHFKWV YRU GHU (LQJDQJVWU HLQHU SUlFKWLJHQ :RKQXQJ KDOWPDFKWHQ XQG GHU *HQHUDO QDFK GHP *ULII GHU .OLQJHO IDWH GD EHVFKOR GHU )UVW GDYRQ]XODXIHQ DEHUHLQVRQGHUEDUHU8PVWDQGKLHOWLKQQRFKHLQHQ$XJHQEOLFN ]XUFNª6LHKDEHQVLFKJHLUUW*HQHUDO©VDJWHHUªKLHUDQGHU 7U VWHKW GHU 1DPH .XODNRZ XQG 6LH ZROOWHQ GRFK EHL 6RNRORZLWVFKNOLQJHOQ©ª.XODNRZ.XODNRZEHZHLVWQLFKWV 'DV LVW 6RNRORZLWVFKV :RKQXQJ XQG LFK NOLQJOH EHL 6RNRORZLWVFK,FKVFKHUHPLFKGHQ7HXIHOXP.XODNRZ'D ZLUGVFKRQJH|IIQHW© 'LH7U|IIQHWHVLFKZLUNOLFK(LQ'LHQHUVFKDXWHKHUDXVXQG PHOGHWHGLH+HUUVFKDIWHQVHLHQQLFKW]X+DXVH ª:LHVFKDGH ZLH VFKDGH 'DV ZLU HV VR VFKOHFKW JHWURIIHQ KDEHQ© ZLHGHUKROWH $UGDOLRQ $OH[DQGURZLWVFK PHKUHUH 0DOH KLQWHUHLQDQGHU PLW GHP $XVGUXFN WLHIVWHQ %HGDXHUQV ª%HVWHOOHQ 6LH OLHEHU )UHXQG GD *HQHUDO ,ZROJLQ XQG )UVW 0\VFKNLQ JHZQVFKW KlWWHQ GHQ +HUUVFKDIWHQ LKUH EHVRQGHUH +RFKDFKWXQJ ]X EH]HLJHQ XQG DXHURUGHQWOLFK DXHURUGHQWOLFKEHGDXHUWKlWWHQ © ,QGLHVHP$XJHQEOLFNVFKDXWHDXV HLQHPGHU =LPPHUGXUFK GLH JH|IIQHWH (LQJDQJVWU QRFK HLQ DQGHUHV *HVLFKW KHUDXV DQVFKHLQHQG GDV *HVLFKW HLQHU :LUWVFKDIWHULQ RGHU YLHOOHLFKW DXFK *RXYHUQDQWH HLQHU HWZD YLHU]LJMlKULJHQ 'DPH LQ GXQNOHP .OHLG $OV VLH GLH 1DPHQ GHV *HQHUDOV ,ZROJLQ XQG GHV )UVWHQ 0\VFKNLQ K|UWH QlKHUWH VLH VLFK QHXJLHULJ XQG PLWUDXLVFK ª0DUMD $OH[DQGURZQD LVW QLFKW ]X +DXVH© VDJWH VLHLQGHPVLHEHVRQGHUVGHQ*HQHUDOVFKDUIDQVDKªVLHLVWPLW GHP JQlGLJHQ )UlXOHLQ $OH[DQGUD 0LFKDLORZQD ]XU *URPXWWHU JHIDKUHQ© ª$XFK $OH[DQGUD 0LFKDLORZQD LVW PLW LKU DXV 2 *RWW ZLH EHGDXHUOLFK 8QG GHQNHQ 6LH VLFK QXU
0DGDPH VROFK 0LJHVFKLFN KDEH LFK LPPHU ,FK ELWWH 6LH JDQ] HUJHEHQVW PHLQH (PSIHKOXQJ DXV]XULFKWHQ XQG $OH[DQGUD0LFKDLORZQD]XEHVWHOOHQVLHP|FKWHVLFKHULQQHUQ PLWHLQHP:RUWVDJHQ6LHLKULFKZQVFKWHLKUYRQ+HU]HQ GDVZDVVLHVHOEVWVLFKDP'RQQHUVWDJDEHQGEHLGHQ.OlQJHQ GHV &KRSLQVFKHQ /LHGHV JHZQVFKW KDEH VLH ZLUG VLFK VFKRQ HULQQHUQ'DVVHLPHLQ+HU]HQVZXQVFK*HQHUDO,ZROJLQXQG )UVW 0\VFKNLQ© ª,FK ZHUGH HV QLFKW YHUJHVVHQ© YHUVHW]WH GHQ $EVFKLHGVJUX HUZLGHUQG GLH 'DPH GLH HWZDV PHKU 9HUWUDXHQ]XGHQ%HVXFKHUQJHZRQQHQKDWWH :lKUHQG VLH GLH 7UHSSH KLQXQWHUVWLHJHQ EHGDXHUWH GHU *HQHUDO LPPHU QRFK LQ GHUVHOEHQ DIIHNWYROOHQ :HLVH GD VLH GLH+HUUVFKDIWHQQLFKWDQJHWURIIHQKlWWHQXQGGDGHP)UVWHQ HLQH VR HQW]FNHQGH %HNDQQWVFKDIW HQWJDQJHQ VHL ª:LVVHQ 6LH PHLQ /LHEHU HV OLHJW HLQH JHZLVVH JHIKOYROOH 6FKZlUPHUHL LQ PHLQHP :HVHQ KDEHQ 6LH GDV ZRKO VFKRQ EHPHUNW" hEULJHQV EULJHQV VFKHLQW PLU GD ZLU DQ GLH IDOVFKH $GUHVVH JHNRPPHQ VLQG© VFKOR HU DXI HLQPDO JDQ] XQHUZDUWHWª-HW]WHULQQHUHLFKPLFK6RNRORZLWVFKVZRKQHQLQ HLQHP DQGHUQ +DXVH XQG PLU VFKHLQW MHW]W VRJDU LQ 0RVNDX -D LFK KDEH PLFK HLQ ELFKHQ JHLUUW DEHU GDV WXW QLFKWV© ª,FK P|FKWH QXU HLQHV ZLVVHQ© EHPHUNWH GHU )UVW QLHGHUJHVFKODJHQ ª,VW HV QLFKW GDV EHVWH ZHQQ LFK DXI ,KUH +LOIHJDQ]YHU]LFKWHXQGOLHEHUDOOHLQKLQJHKH"© ª9HU]LFKWHQ" $OOHLQ KLQJHKHQ" $EHU ZLHVR GHQQ GD GDV GRFK IU PLFK HLQ lXHUVWZLFKWLJHU6FKULWWLVWYRQGHPVRYLHOLQGHP6FKLFNVDO PHLQHU JDQ]HQ )DPLOLH DEKlQJW" $EHU GD NHQQHQ 6LH ,ZROJLQ VFKOHFKW PHLQ MXQJHU )UHXQG :HU ¾,ZROJLQ½ VDJW GHU VDJW ¾0DXHU½ ¾$XI ,ZROJLQ NDQQ PDQ VLFK ZLH DXI HLQH 0DXHU YHUODVVHQ½VRKLHHVVFKRQLQGHU6FKZDGURQLQGHULFKPHLQH /DXIEDKQ EHJDQQ ,FK PX QXU QRFK XQWHUZHJV LQ HLQHP +DXVH YRUVSUHFKHQ LQ GHP PHLQH 6HHOH VFKRQ VHLW PHKUHUHQ -DKUHQ LKUH (UKROXQJ ILQGHW YRQ DOO GHU 8QUXKH XQG GHQ VFKZHUHQ3UIXQJHQGLH©ª6LHZROOHQHUVWQRFKQDFK+DXVH
JHKHQ"©ª1HLQLFKZLOO]XGHU)UDX+DXSWPDQQ7HUHQWMHZD GHU :LWZH GHV +DXSWPDQQV 7HUHQWMHZ PHLQHV IUKHUHQ 8QWHUJHEHQHQ MD )UHXQGHV +LHU EHL GHU )UDX +DXSWPDQQ OHEHLFKVHHOLVFKZLHGHUDXIKLHUKHUWUDJHLFKDOOGDV/HLGGDV GDV /HEHQ XQG PHLQH )DPLOLH PLU EHUHLWHQ 8QG GD JHUDGH KHXWH HLQ VFKZHUHU 'UXFN DXI PHLQHU 6HHOH ODVWHW VR P|FKWH LFK© ª,FK JODXEH© PXUPHOWH GHU )UVW ªLFK KDEH VR VFKRQ HLQH JURH 7RUKHLW EHJDQJHQ DOV LFK 6LH YRUKLQ PLW PHLQHU %LWWHEHOlVWLJWH8QGDXHUGHPZROOHQ6LHMDMHW]W/HEHQ6LH ZRKO© ª$EHU LFK GDUI 6LH MHW]W QLFKW ZHJJHKHQ ODVVHQ PHLQ MXQJHU )UHXQG GDV GDUI LFK QLFKW© ULHI GHU *HQHUDO ª6LH LVW HLQH:LWZHHLQH)DPLOLHQPXWWHUXQGYHUPDJLQLKUHP+HU]HQ 6DLWHQHUNOLQJHQ]XODVVHQGLHLQPHLQHPJDQ]HQ:HVHQLKUHQ :LGHUKDOO ILQGHQ 'HU %HVXFK EHL LKU ZLUG QXU IQI 0LQXWHQ GDXHUQ LQ GLHVHP +DXVH YHUNHKUH LFK JDQ] XQJHQLHUW LFK ZRKQH GD IDVW ,FK ZLOO PLFK GD ZDVFKHQ XQG GLH Q|WLJVWH 7RLOHWWHPDFKHQXQGGDQQ IDKUHQZLULQ HLQHU 'URVFKNH QDFK GHP *URHQ 7KHDWHU 6HLHQ 6LH EHU]HXJW GD LFK ,KUHU GHQ JDQ]HQ$EHQGEHGDUI+LHULQGLHVHP+DXVHLVWHVZLUVLQG VFKRQ GD $K .ROMD GX ELVW VFKRQ KLHU" 1XQ LVW 0DUID %RULVVRZQD ]X +DXVH RGHU ELVW GX VHOEVW HEHQ HUVW JHNRPPHQ"© ª2 QHLQ© DQWZRUWHWH .ROMD GHU XQHUZDUWHW LQ GHU+DXVWUPLWLKQHQ]XVDPPHQJHVWRHQZDUªLFKELQVFKRQ HLQHJDQ]H:HLOHKLHUEHL,SSROLWHVJHKWLKPVFKOHFKWHUHUKDW VLFKKHXWHYRUPLWWDJKLQOHJHQPVVHQ ,FKKDEHMHW]WHEHQHLQ 6SLHO .DUWHQ YRP .DXIPDQQ JHKROW 0DUID %RULVVRZQD HUZDUWHW 6LH $EHU 3DSD LQ ZHOFKHP =XVWDQGH VLQG 6LH© VFKOR.ROMDLQGHPHUGHQ*DQJXQGGLH+DOWXQJGHV*HQHUDOV VFKDUIPXVWHUWHª1XQGDQQZROOHQZLUKLQDXIJHKHQ© 'LH %HJHJQXQJ PLW .ROMD EHZRJ GHQ )UVWHQ GHQ *HQHUDO DXFKQRFK]X0DUID%RULVVRZQD]XEHJOHLWHQDEHUQXUDXIHLQH 0LQXWH'HU)UVWEUDXFKWH.ROMDYRQGHP *HQHUDO ZROOWH HU VLFK XQWHU DOOHQ 8PVWlQGHQ ORVPDFKHQ XQG HU NRQQWH HV VLFK QLFKW YHU]HLKHQ GD HU YRUKLQ GHQ (LQIDOO JHKDEW KDWWH DXI
GLHVHQ0HQVFKHQLUJHQGZHOFKH+RIIQXQJHQ]XVHW]HQ$XIGHU +LQWHUWUHSSH VWLHJHQ VLH ]XP YLHUWHQ 6WRFN KLQDXI ZDV ]LHPOLFK ODQJH GDXHUWH ª:ROOHQ 6LH GHQ )UVWHQ GRUW HLQIKUHQ"© IUDJWH .ROMD XQWHUZHJV ª-D PHLQ 6RKQ GDV ZLOO LFK*HQHUDO,ZROJLQXQG)UVW0\VFKNLQ$EHUZLHLVW0DUID %RULVVRZQDV %HILQGHQ XQG 6WLPPXQJ" © ª:LVVHQ 6LH 3DSDHVZlUHDPEHVWHQZHQQ6LHQLFKW]XLKUJLQJHQ6LHLVW ZWHQG DXI 6LH 6LH KDEHQ VLFK VHLW GUHL 7DJHQ QLFKW EOLFNHQ ODVVHQ XQG VLH ZDUWHW DXI *HOG :DUXP KDEHQ 6LH LKU *HOG YHUVSURFKHQ"6RPDFKHQ6LHHVLPPHU1XQPVVHQ6LHVHKHQ ZLH6LHPLWLKUIHUWLJZHUGHQ©,PYLHUWHQ6WRFNEOLHEHQVLHYRU HLQHU QLHGULJHQ 7U VWHKHQ 'HU *HQHUDO ZDU DXJHQVFKHLQOLFK lQJVWOLFK JHZRUGHQ XQG VFKRE GHQ )UVWHQ YRU ª,FK ZHUGH KLHUVWHKHQEOHLEHQ©PXUPHOWHHUª,FKP|FKWHVLHEHUUDVFKHQ © .ROMD JLQJ ]XHUVW KLQHLQ (LQH VWDUN JHVFKPLQNWH HWZD YLHU]LJMlKULJH'DPHLQ3DQWRIIHOQXQG+DXVMDFNHGLH+DDUHLQ NOHLQH=|SIHJHIORFKWHQVDKDXVGHU7UXQGGLHYRP*HQHUDO JHSODQWHhEHUUDVFKXQJILHOVRIRUWLQV:DVVVHU.DXPKDWWHLKQ GLH 'DPH HUEOLFNW DOV VLH VFKULH ª'D LVW HU MD GHU JHPHLQH VFKlQGOLFKH 0HQVFK 'DV KDWWH LFK GRFK JHDKQW© ª.RPPHQ 6LH QXU PLW KHUHLQ VLH PDFKW QXU 6FKHU]© IOVWHUWH GHU *HQHUDOLPPHUQRFKKDUPORVOlFKHOQGGHP)UVWHQ]X $EHUHVZDUNHLQ6FKHU]JHZHVHQ.DXPZDUHQVLHGXUFKHLQ GXQNOHV QLHGULJHV 9RU]LPPHU LQ GHQ HQJHQ PLW VHFKV 5RKUVWKOHQ XQG ]ZHL 6SLHOWLVFKHQ P|EOLHUWHQ 6DORQ JHWUHWHQ DOV GLH 'DPH VRIRUW PLW JHNQVWHOWHU ZHLQHUOLFK NOLQJHQGHU RUGLQlUHU 6WLPPH IRUWIXKU ª6FKlPVW GX GLFK GHQQ JDU QLFKW GX %DUEDU GX 7\UDQQ PHLQHU )DPLOLH GX %DUEDU XQG 8QPHQVFK" *DQ] DXVJHSOQGHUW KDW HU PLFK DOOHV KDW HU PLU DEJHSUHW XQG GDPLW LVW HU QRFK QLFKW ]XIULHGHQ :LH ODQJH VROO LFK GDV QRFK YRQ GLU HUWUDJHQ GX VFKDPORVHU HKUORVHU 0HQVFK"©ª0DUID%RULVVRZQD0DUID%RULVVRZQD'DVLVWKLHU )UVW 0\VFKNLQ *HQHUDO ,ZROJLQ XQG )UVW 0\VFKNLQ©
PXUPHOWH GHU *HQHUDO ]LWWHUQG XQG IDVVXQJVORV ª.|QQHQ 6LH HVJODXEHQ©ZDQGWHVLFKGLH)UDX+DXSWPDQQSO|W]OLFKDQGHQ )UVWHQ ªN|QQHQ 6LH HV JODXEHQ GD GLHVHU VFKDPORVH 0HQVFK QLFKW HLQPDO PLW PHLQHQ YDWHUORVHQ .LQGHUQ 0LWOHLG JHKDEWKDW"$OOHVKDWHUXQVJHUDXEWDOOHVZHJJHVFKOHSSWDOOHV YHUNDXIWXQGYHUVHW]WQLFKWVKDWHUXQVJHODVVHQ:DVVROOLFK PLWGHLQHQ6FKXOGVFKHLQHQDQIDQJHQGXOLVWLJHUJHZLVVHQORVHU 0HQVFK" $QWZRUWH GX %HWUJHU DQWZRUWH PLU GX XQHUVlWWOLFKHU5lXEHUZRPLWVROOLFKPHLQHYDWHUORVHQ.LQGHU VDWWPDFKHQ"'DNRPPWHUQXQ EHWUXQNHQ KHU XQG NDQQ QLFKW DXI GHQ %HLQHQ VWHKHQ :RPLW KDEH LFK *RWW GHQ +HUUQ HU]UQW GX VFKlQGOLFKHU DEVFKHXOLFKHU *DXQHU" $QWZRUWH© $EHU GHU *HQHUDO ZDU QLFKW GD]X DXIJHOHJW GLHVH )UDJH ]X EHDQWZRUWHQ ª0DUID %RULVVRZQD GD VLQG IQIXQG]ZDQ]LJ 5XEHO GDV LVW DOOHV ZDV LFK GXUFK GLH %HLKLOIH PHLQHV HGHOPWLJHQ )UHXQGHV JHEHQ NDQQ )UVW ,FK KDEH PLFK VFKUHFNOLFK JHLUUW -D VR LVW GDV /HEHQ $EHU MHW]W YHU]HLKHQ 6LH LFK IKOH PLFK VFKZDFK© IXKU GHU *HQHUDO PLWWHQ LP =LPPHU VWHKHQG XQG VLFK QDFK DOOHQ 6HLWHQ YHUEHXJHQG IRUW ª,FK IKOH PLFK VFKZDFK YHU]HLKHQ 6LH /HQRWVFKND(LQ.LVVHQOLHEHV.LQG© /HQRWVFKND HLQ 0lGFKHQ YRQ DFKW -DKUHQ OLHI VRIRUW HLQ .LVVHQKROHQXQGOHJWHHVDXIGDVPLW:DFKVWXFKEHU]RJHQH KDUWH DEJHQXW]WH 6RID 'HU *HQHUDO VHW]WH VLFK GDUDXI LQ GHU $EVLFKW QRFK YLHOHV ]X VDJHQ DEHU NDXP KDWWH HU GDV 6RID EHUKUWDOVHUVLFKVRIRUW]XU6HLWHQHLJWHVLFKQDFKGHU:DQG ]X ZDQGWH XQG LQ GHQ 6FKODI GHV *HUHFKWHQ YHUVDQN 0DUID %RULVVRZQD ERW GHP )UVWHQ ]HUHPRQL|V XQG PLW NXPPHUYROOHU0LHQHHLQHQ6WXKODQHLQHPGHU6SLHOWLVFKHDQ VHW]WH VLFK VHOEVW LKP JHJHQEHU VWW]WH GLH UHFKWH :DQJH LQ GLH +DQG VDK GHQ )UVWHQ VFKZHLJHQG DQ XQG VHXI]WH 'UHL NOHLQH .LQGHU ]ZHL 0lGFKHQ XQG HLQ .QDEH YRQ GHQHQ /HQRWVFKND GDV lOWHVWH ZDU WUDWHQ HEHQIDOOV DQ GHQ 7LVFK KHUDQOHJWHQDOOHGUHLGLH$UPHGDUDXIXQGVDKHQXQYHUZDQGW
DXI GHQ )UVWHQ $XV GHP DQVWRHQGHQ =LPPHU NDP .ROMD KHUHLQ ª,FK IUHXH PLFK VHKU GD LFK 6LH KLHU JHWURIIHQ KDEH .ROMD© ZDQGWH VLFK GHU )UVW DQ LKQ ª.|QQHQ 6LH PLU QLFKW KHOIHQ" ,FK PX XQWHU DOOHQ 8PVWlQGHQ ]X 1DVWDVMD )LOLSSRZQD,FKKDEHYRUKLQ$UGDOLRQ$OH[DQGURZLWVFKGDUXP JHEHWHQPLFKKLQ]XEULQJHQDEHUGHULVWMDQXQHLQJHVFKODIHQ )KUHQ6LHPLFKKLQGHQQLFKZHLKLHUPLWGHQ6WUDHQQLFKW %HVFKHLG 'LH $GUHVVH KDEH LFK EULJHQV EHLP *URHQ 7KHDWHU LP +DXVH GHU )UDX 0\WRZ]RZD© ª1DVWDVMD )LOLSSRZQD" 'LH KDW EHUKDXSW QLH EHLP *URHQ 7KHDWHU JHZRKQWXQGGHU9DWHULVWQLHEHLLKU JHZHVHQ ZHQQ6LHGDV ZLVVHQZROOHQLFKZXQGHUHPLFKGD6LHYRQLKPHLQH+LOIH HUZDUWHW KDEHQ 6LH ZRKQW QLFKW ZHLW YRQ GHU :ODGLPLUVNDMD 6WUDHEHLGHQ)QI(FNHQGDVLVWYRQKLHUYLHOQlKHU:ROOHQ 6LHMHW]WJOHLFKKLQ"(VLVWMHW]WKDOE]HKQ:HQQHV,KQHQUHFKW LVW ZLOO LFK 6LH KLQIKUHQ© 'HU )UVW XQG .ROMD JLQJHQ VRJOHLFK ZHJ $EHU OHLGHU KDWWH GHU )UVW NHLQ *HOG XP HLQH 'URVFKNH ]X QHKPHQ XQG VR PXWHQ VLH GHQ :HJ ]X )X PDFKHQ ª,FK KlWWH 6LH JHUQ PLW ,SSROLW EHNDQQW JHPDFKW© VDJWH.ROMDªHULVWGHUlOWHVWH6RKQGLHVHU+DXSWPDQQVIUDXLQ GHU -DFNH XQG ZDU LP DQGHUQ =LPPHU HU LVW NUDQN XQG KDW KHXWH GHQ JDQ]HQ 7DJ LP %HWW JHOHJHQ $EHU HU LVW VR VRQGHUEDU HU KDW HLQ VHKU IHLQHV *HIKO XQG LFK JODXEH HU KlWWHVLFKYRU,KQHQJHVFKlPWZHLO6LHJHUDGH]XHLQHUVROFKHQ 6]HQHJHNRPPHQZDUHQ$EHULFKLFKVFKlPHPLFKQLFKWVR ZLHHUZHLOHVVLFKEHLPLUXPGHQ9DWHUKDQGHOWXQGEHLLKP XPGLH0XWWHUXQGGDVLVWGRFKHLQ8QWHUVFKLHGZHLOIUGDV PlQQOLFKH *HVFKOHFKW LQ VROFKHQ 'LQJHQ QLFKWV (QWHKUHQGHV OLHJW hEULJHQV KDW GLHVH $QVLFKW YRQ HLQHP 9RUUDQJ GHV PlQQOLFKHQ *HVFKOHFKWV DXI GLHVHP *HELHWH YLHOOHLFKW NHLQH LQQHUH%HJUQGXQJ,SSROLWLVWHLQSUlFKWLJHU0HQVFKDEHUHLQ 6NODYH PDQFKHU YRUJHIDWHQ 0HLQXQJHQ© ª6LH VDJHQ HU LVW VFKZLQGVFKWLJ"© ª-D LFK JODXEH GD HV IU LKQ GDV EHVWH ZlUH ZHQQ HU EDOG VWUEH ,FK ZUGH PLU DQ VHLQHU 6WHOOH
MHGHQIDOOV GHQ 7RG ZQVFKHQ ,KP WXQ DEHU VHLQ %UXGHU XQG VHLQH 6FKZHVWHUQ OHLG GLH .OHLQHQ GLH 6LH JHVHKHQ KDEHQ :HQQHVP|JOLFKZlUHZHQQZLUQXUGDVQ|WLJH*HOGKlWWHQ GDQQ ZUGHQ ZLU EHLGH HU XQG LFK XQV HLQH EHVRQGHUH :RKQXQJ PLHWHQ XQG XQV YRQ XQVHUHQ )DPLOLHQ WUHQQHQ 'DV LVWXQVHU ,GHDO$EHUZLVVHQ6LHZDV"$OVLFKLKPYRUKLQYRQ ,KUHU$IIlUHPLW*DQMDHU]lKOWHGDZXUGHHUJDQ]lUJHUOLFKXQG VDJWH ZHU HLQH 2KUIHLJH KLQQHKPH XQG GHQ %HOHLGLJHU QLFKW ]XP 'XHOO KHUDXVIRUGHUH GHU VHL HLQ /XPS (U LVW EULJHQV VFKUHFNOLFK UHL]EDU LFK ODVVH PLFK QLH PHKU GDUDXI HLQ PLW LKP]XGLVSXWLHUHQ$OVRGDKDW1DVWDVMD)LOLSSRZQD6LHJOHLFK ]X VLFK HLQJHODGHQ"© ª'DV LVW HV MD HEHQ GD VLH GDV QLFKW JHWDQKDW©ª$EHUZLHN|QQHQ6LHGDQQ]XLKUKLQJHKHQ"©ULHI .ROMDHUVWDXQWXQGEOLHEVRJDUPLWWHQDXIGHP*HKVWHLJVWHKHQ 8QG XQG LQ GLHVHP $Q]XJ" (V LVW GRFK GD KHXWH HLQH $EHQGJHVHOOVFKDIW QXU IU JHODGHQH *lVWH© ª,FK ZHL DXFK WDWVlFKOLFK QLFKW ZLH LFK (LQOD ILQGHQ ZHUGH (PSIlQJW VLH PLFK JXW ZHQQ QLFKW QXQ VR LVW GLH 6DFKH HEHQ PLJOFNW 8QG ZDV GHQ $Q]XJ DQJHKW ZDV LVW GD ]X PDFKHQ"© ª)KUW 6LH GHQQ HLQH EHVRQGHUH $QJHOHJHQKHLW GRUWKLQ" 2GHU JHKHQ 6LH QXU KLQ SRXU SDVVHU OH WHPSV LQ ¾IHLQHU *HVHOOVFKDIW½"© ª1HLQLFKKDEHHLJHQWOLFKGDVKHLWLFKKDEHDOOHUGLQJVHLQH EHVRQGHUH $QJHOHJHQKHLW HV LVW VFKZHU GDV DXV]XGUFNHQ DEHU©ª1XQZHOFKHU$UW,KUH$QJHOHJHQKHLWJHQDXHULVWGDV LVWMD,KUH6DFKHPLUJHKWHVYRUDOOHPGDUXPGD6LHVLFKGD KHXWHDEHQGQLFKWHLQIDFKLQGLHHQW]FNHQGH*HVHOOVFKDIWYRQ .DPHOLHQGDPHQ *HQHUlOHQ XQG +DOVDEVFKQHLGHUQ HLQGUlQJHQ ZROOHQ :HQQ GDV ,KUH $EVLFKW ZlUH GDQQ ZUGH LFK ± YHU]HLKHQ 6LH )UVW ± 6LH DXVODFKHQ XQG YHUDFKWHQ +LHU JLEW HV VHKU ZHQLJ HKUHQKDIWH /HXWH XQG PDQ NDQQ HLJHQWOLFK QLHPDQGHQ VR UHFKW YRQ +HU]HQ KRFKDFKWHQ 8QZLOONUOLFK JHZ|KQW PDQ VLFK GD YRQ REHQ DXI VLH KHUDE]XEOLFNHQ XQG GDEHL ZROOHQ VLH GRFK DOOH UHVSHNWLHUW VHLQ :DU MD LQ HUVWHU
IU] XPGLH=HLW]XYHUEULQJHQ
/LQLH8QGKDEHQ6LHZRKOEHPHUNW)UVWLQXQVHUP=HLWDOWHU VLQG DOOH 0HQVFKHQ $EHQWHXUHU *DQ] EHVRQGHUV EHL XQV LQ 5XODQGLQXQVHUPOLHEHQ9DWHUODQG8QGZLHVLFKGDVDOOHVVR KHUDXVJHELOGHW KDW GDV LVW PLU XQEHJUHLIOLFK $OOHV VFKLHQ VR IHVWXQGVROLGH]XVHLQXQGMHW]W"'DUHGHQXQGVFKUHLEHQQXQ GLH /HXWH EHUDOO 6LH GHFNHQ 0LVWlQGH DXI $OOH /HXWH VLQG EHLXQVGDPLWEHVFKlIWLJWhEHOVWlQGHDXI]XGHFNHQ'LH(OWHUQ VLQG GLH HUVWHQ GLH GHQ 5FN]XJ DQWUHWHQ XQG VLFK LKUHU IUKHUHQPRUDOLVFKHQ*UXQGVlW]HVFKlPHQ,Q0RVNDXKDWHLQ 9DWHU VHLQHP 6RKQ DOV /HEHQVUHJHO DXIJHVWHOOW YRU QLFKWV ]XUFN]XVFKUHFNHQ ZR HV VLFK GDUXP KDQGHOW *HOG ]X YHUGLHQHQGLH 6DFKH LVW EHNDQQWOLFK LQ GHU 3UHVVH EHVSURFKHQ ZRUGHQ6HKHQ6LHPHLQHQ9DWHUGHQ*HQHUDODQ:DVLVWDXV LKPJHZRUGHQ"hEULJHQVZLVVHQ6LHZDV"0LUVFKHLQWGDHU HLQ HKUHQKDIWHU 0DQQ LVW ZDKUKDIWLJ GDV JODXEH LFK (V OLHJW EHL LKP QXU DQ HLQHU JHZLVVHQ /lVVLJNHLW XQG DP 7ULQNHQ :DKUKDIWLJ VR LVW HV (U WXW PLU VRJDU OHLG QXU IUFKWH LFK PLFKGDVDXV]XVSUHFKHQZHLOPLFKVRQVWDOOHDXVODFKHQDEHU ZDKUKDIWLJHUWXWPLUOHLG8QGZDVLVWDQLKQHQGHQ.OXJHQ GUDQ" 6LH VLQG VlPWOLFK :XFKHUHU DOOH RKQH $XVQDKPH ,SSROLW YHUWHLGLJW GHQ :XFKHU HU VDJW GHU VHL HLQH 1RWZHQGLJNHLW HLQH ZLUWVFKDIWOLFKH (UVFKWWHUXQJ HLQH $UW (EEHXQG)OXWKRO¶VGHU7HXIHO0LUPLIlOOWGDVVHKUDQLKP DEHU HU EOHLEW HUELWWHUW EHL VHLQHU 0HLQXQJ 'HQNHQ 6LH QXU VHLQH 0XWWHU GLH )UDX +DXSWPDQQ EHNRPPW *HOG YRQ PHLQHP 9DWHU XQG OHLKW HV LKP GDQQ ZLHGHU ]X KRKHQ 3UR]HQWHQHLQJDQ]VFKlQGOLFKHV%HQHKPHQ8QGZLVVHQ6LH GD GLH 0DPD GDV KHLW PHLQH 0DPD 1LQD $OH[DQGURZQD ,SSROLW PLW *HOG .OHLGXQJVVWFNHQ :lVFKH XQG DOOHP P|JOLFKHQ XQWHUVWW]W XQG GXUFK LKQ ]XP 7HLO VRJDU DXFK GLH DQGHUQ .LQGHU ZHLO GLH YRQ LKUHU 0XWWHU YROOVWlQGLJ YHUQDFKOlVVLJWZHUGHQ"8QG:DUMDWXWGDVVHOEH©ª1XQVHKHQ 6LHZRKO6LHVDJWHQHVJHEHNHLQHHKUHQKDIWHQVLWWOLFKVWDUNHQ 0HQVFKHQXQGDOOHVHLHQ:XFKHUHUGDKDEHQ6LHMDQXQJOHLFK
HLQSDDUVLWWOLFKVWDUNH0HQVFKHQ,KUH0XWWHUXQG:DUMD+LHU ]X KHOIHQ XQWHU VROFKHQ 8PVWlQGHQ ]X KHOIHQ LVW GDV HWZD NHLQ=HLFKHQVLWWOLFKHU.UDIW"© ª:DUMDWXWHVDXV(KUJHL]DXV 3UDKOVXFKW XP QLFKW KLQWHU GHU 0XWWHU ]XUFN]XEOHLEHQ QD DEHU 0DPD GLH WXW HV ZLUNOLFK LFK HPSILQGH JHJHQ VLH +RFKDFKWXQJ -D LFK ELOOLJH XQG DFKWH HLQH VROFKH +DQGOXQJVZHLVH6RJDU,SSROLWKDWHLQ*HIKOGDIUDEHUHULVW IDVWJDQ]YHUELWWHUW=XHUVWZROOWHHUVLFKGDUEHUOXVWLJPDFKHQ XQG QDQQWH HV YRQ 0DPDV 6HLWH HLQH *HPHLQKHLW DEHU MHW]W XUWHLOWHUPDQFKPDOGRFKDQGHUVGDUEHU+P$OVR6LHQHQQHQ GDVVLWWOLFKH.UDIW"'DVZLOOLFKPLUPHUNHQ*DQMDZHLQLFKWV GDYRQ VRQVW ZUGH HU HV 1DFKJLHELJNHLW QHQQHQ© ª*DQMD ZHL QLFKWV GDYRQ" (V VFKHLQW GD *DQMD DXFK VRQVW VHKU YLHOHV QLFKW ZHL© HQWIXKU HV XQZLOONUOLFK GHP )UVWHQ GHU VHKUQDFKGHQNOLFKJHZRUGHQZDU ª8QGZLVVHQ6LH)UVW6LH JHIDOOHQ PLU VHKU ,KU 9HUKDOWHQ YRUKLQ *DQMD JHJHQEHU NRPPW PLU JDU QLFKW DXV GHP 6LQQ© ª$XFK 6LH JHIDOOHQ PLU VHKU.ROMD©ª+|UHQ6LHPDOZLHEHDEVLFKWLJHQ6LH,KU/HEHQ KLHU HLQ]XULFKWHQ" ,FK ZHUGH PLU EDOG HLQH %HVFKlIWLJXQJ YHUVFKDIIHQ XQG HWZDV YHUGLHQHQ GDQQ N|QQWHQ MD ZLU GUHL LFK 6LH XQG ,SSROLW XQV HLQH JHPHLQVDPH :RKQXQJ PLHWHQ XQG ]XVDPPHQ OHEHQ XQG PHLQHQ 9DWHU ZUGHQ ZLU GDQQ ]X XQV QHKPHQ© ª0LW GHP JU|WHQ 9HUJQJHQ $EHU GDUEHU N|QQHQ ZLU HUVW VSlWHU UHGHQ ,FK ELQ MHW]W VHKU VHKU ]HUVWUHXW:LH"6LQGZLUVFKRQGD",QGLHVHP+DXV"'DVLVW MDHLQJURDUWLJHV3RUWDO8QGHLQ3RUWLHU1XQ.ROMDLFKZHL QLFKWZDVGDUDXVZHUGHQVROO© 'HU )UVW VWDQG JDQ] IDVVXQJVORV GD ª0RUJHQ ZHUGHQ 6LH PLU DOOHV HU]lKOHQ 6HLHQ 6LH QXU QLFKW ]X VFKFKWHUQ ,FK ZQVFKH,KQHQYRQ+HU]HQJXWHQ(UIROJGHQQLFKELQLQDOOHQ 'LQJHQ GHUVHOEHQ $QVLFKW ZLH 6LH /HEHQ 6LH ZRKO ,FK JHKH ZLHGHUGDKLQ]XUFNXQGZHUGHHV,SSROLWHU]lKOHQ'DVLH6LH HPSIDQJHQ ZLUG GDUDQ LVW JDU QLFKW ]X ]ZHLIHOQ GD EUDXFKHQ 6LHNHLQH6RUJH]XKDEHQ6LHLVWHLQHK|FKVWHLJHQDUWLJH)UDX
'LHVH7UHSSHKLHUKLQDXILQGHUHUVWHQ(WDJHGHU3RUWLHUZLUG ,KQHQ%HVFKHLGVDJHQ©
;,,, 'HU )UVW EHIDQG VLFK DOV HU GLH 7UHSSH KLQDXIVWLHJ LQ JURHU8QUXKHXQGVXFKWHVLFKPLWDOOHU.UDIW0XW]XPDFKHQ ¾'DV6FKOLPPVWH½GDFKWHHU¾NDQQGRFKQXUVHLQGDVLHPLFK QLFKW HPSIlQJW XQG LUJHQG HWZDV 6FKOHFKWHV YRQ PLU GHQNW RGHU DXFK YLHOOHLFKW GD VLH PLFK HPSIlQJW XQG PLU LQV *HVLFKWODFKW$FKZDV'DUDXVZLOOLFKPLUQLFKWVPDFKHQ½ 8QGLQGHU7DWlQJVWLJWHLKQGLHVQLFKWVREHVRQGHUVDEHUGLH )UDJH ZDUXP HU HLJHQWOLFK GRUWKLQ JLQJ XQG ZDV HU GRUW ZROOWH DXI GLHVH )UDJH IDQG HU VFKOHFKWHUGLQJV NHLQH EHIULHGLJHQGH$QWZRUW6HOEVWZHQQHVLKPLUJHQGZLHJHOlQJH HLQH JQVWLJH *HOHJHQKHLW DE]XSDVVHQ XQG ]X 1DVWDVMD )LOLSSRZQD ]X VDJHQ ¾+HLUDWHQ 6LH GLHVHQ 0HQVFKHQ QLFKW XQGULFKWHQ6LHVLFKQLFKW]XJUXQGHHUOLHEW6LHQLFKWHUOLHEW QXU ,KU *HOG GDV KDW HU PLU VHOEVW JHVDJW XQG DXFK $JODMD -HSDQWVFKLQDKDWHVPLUJHVDJWXQGLFKELQKHUJHNRPPHQXP 6LHGDYRQLQ.HQQWQLV]XVHW]HQ½VRZUGHVDJWHHUVLFKDXFK GDV QLFKW LQ MHGHU %H]LHKXQJ NRUUHNW VHLQ 8QG QRFK HLQH DQGHUHXQJHO|VWH)UDJHWUDWLKPYRUGLH6HHOHHLQHVRZLFKWLJH )UDJH GD GHU )UVW VLFK VRJDU IUFKWHWH DQ VLH DXFK QXU ]X GHQNHQ GD HU JDU QLFKW ZDJWH VLH DOV ]XOlVVLJ ]X EHWUDFKWHQ XQG]XIRUPXOLHUHQVRQGHUQEHLGHPEORHQ*HGDQNHQDQVLH HUU|WHWHXQG]X]LWWHUQEHJDQQ$EHUGDV(QGHZDUGRFKGDHU WURW] DOO GLHVHU %HIUFKWXQJHQ XQG =ZHLIHO HLQWUDW XQG QDFK 1DVWDVMD)LOLSSRZQDIUDJWH 1DVWDVMD )LOLSSRZQD KDWWH HLQH QLFKW VHKU JURH DEHU
ZLUNOLFKSUDFKWYROODXVJHVWDWWHWH:RKQXQJ,QGHQIQI-DKUHQ LKUHV 3HWHUVEXUJHU $XIHQWKDOWV KDWWH HV ]XHUVW HLQH =HLW JHJHEHQZR $IDQDVVLM ,ZDQRZLWVFK JDQ]EHVRQGHUVYLHO*HOG IUVLHDXIZDQGWHHUUHFKQHWHGDPDOVQRFKDXILKUH/LHEHXQG KRIIWH VLH QDPHQWOLFK GXUFK .RPIRUW XQG /X[XV ]X EHW|UHQ GHQQHUZXWHZLHOHLFKWPDQVLFKDQGHQ/X[XVJHZ|KQWXQG ZLHVFKZHUHVHLQHPQDFKKHUIlOOWDXILKQ]XYHU]LFKWHQZHQQ HU DOOPlKOLFK ]XP %HGUIQLV JHZRUGHQ LVW ,Q GLHVHU +LQVLFKW EOLHE 7R]NLM GHQ DOWHQ JXWHQ 7UDGLWLRQHQ WUHX XQG lQGHUWH QLFKWV DQ LKQHQ GD HU GLH XQEHUZLQGOLFKH 0DFKW GHU VLQQOLFKHQ (LQGUFNH DXHURUGHQWOLFK KRFK DQVFKOXJ 1DVWDVMD )LOLSSRZQDYHUKLHOWVLFKJHJHQGHQ/X[XVQLFKWDEOHKQHQGVLH OLHEWH LKQ VRJDU DEHU ± XQG GLHV HUVFKLHQ VHKU PHUNZUGLJ ± VLH OLH VLFK YRQ LKP QLFKW XQWHUMRFKHQ VRQGHUQ PDFKWH GHQ (LQGUXFN DOV N|QQH VLH LKQ DXFK MHGHU]HLW HQWEHKUHQ VLH VSUDFK GDV VRJDU PHKUPDOV DEVLFKWOLFK DXV ZRGXUFK 7R]NLM VLFK XQDQJHQHKP EHUKUW IKOWH hEULJHQV KDWWH 1DVWDVMD )LOLSSRZQD JDU PDQFKHV DQ VLFK ZRYRQ $IDQDVVLM ,ZDQRZLWVFKQLFKWVRQGHUOLFKHUEDXWZDUHLQ*HIKOGDVVLFK LQ GHU )ROJH]HLW VRJDU ELV ]XU 9HUDFKWXQJ VWHLJHUWH *DQ] DEJHVHKHQ GDYRQ GD VLH PDQFKPDO XQG RIIHQEDU DXV SHUV|QOLFKHU 1HLJXQJ /HXWH DQ VLFK KHUDQ]RJ GLH GDV *HJHQWHLO YRQ HOHJDQW ZDUHQ WUDWHQ EHL LKU DXFK QRFK HLQLJH DQGHUH JDQ] VHOWVDPH 1HLJXQJHQ KHUYRU HV ]HLJWH VLFK HLQH EDUEDULVFKH 9HUPLVFKXQJ ]ZHLHU YHUVFKLHGHQHU *HVFKPDFNVULFKWXQJHQ IHUQHU HLQH )lKLJNHLW DXI JHZLVVH *HQVVH ]X YHU]LFKWHQ XQG VLFK VWDWW GHVVHQ PLW DQGHUQ ]X EHJQJHQ GLH HLQ DQVWlQGLJHU IHLQJHELOGHWHU 0HQVFK DOV JDU QLFKWYRUKDQGHQEHWUDFKWHW,QGHU7DWKlWWH±XPHLQ%HLVSLHO DQ]XIKUHQ ± 1DVWDVMD )LOLSSRZQD LUJHQGHLQH OLHEHQVZUGLJH YRUQHKPH 8QZLVVHQKHLW EHNXQGHW HWZD HLQH 8QNHQQWQLV GHU 7DWVDFKH GD %lXHULQQHQ QLFKW ZHLHQ %DWLVW WUDJHQ N|QQHQ ZLH VLH LKQ WUXJ VR ZlUH $IDQDVVLM ,ZDQRZLWVFK GDPLW ZRKO JDQ] ]XIULHGHQ JHZHVHQ $XI VROFKH 5HVXOWDWH ]LHOWH
XUVSUQJOLFK QDFK 7R]NLMV 3URJUDPP GHU DXI GLHVHP *HELHW HLQ JURHU 6DFKYHUVWlQGLJHU ZDU 1DVWDVMD )LOLSSRZQDV JDQ]H (U]LHKXQJ DE DEHU OHLGHU NDPHQ VWDWW GHVVHQ JDQ] VRQGHUEDUH 5HVXOWDWH ]XWDJH 7URW]GHP MHGRFK ODJHQ LQ 1DVWDVMD )LOLSSRZQDV :HVHQ QRFK PDQFKH (LJHQVFKDIWHQ GLH PLWXQWHU VRJDU$IDQDVVLM,ZDQRZLWVFKVHOEVWGXUFKLKUHXQJHZ|KQOLFKH UHL]YROOH 2ULJLQDOLWlW XQG LKUH XUZFKVLJH .UDIW DQ]RJHQ XQG LKQ ELVZHLOHQ DXFK MHW]W QRFK HQW]FNWHQ ZR VFKRQ DOO VHLQH IUKHUHQ 6SHNXODWLRQHQ DXI 1DVWDVMD )LOLSSRZQD ]XVDPPHQJHVWU]WZDUHQ 'HP)UVWHQ|IIQHWHHLQ0lGFKHQ1DVWDVMD)LOLSSRZQDKLHOW VLFK VWHWV QXU ZHLEOLFKH 'LHQHUVFKDIW XQG K|UWH ]X VHLQHU 9HUZXQGHUXQJ VHLQH %LWWH LKQ ]X PHOGHQ RKQH MHGHV (UVWDXQHQ DQ :HGHU VHLQH VFKPXW]LJHQ 6WLHIHO QRFK VHLQ EUHLWNUHPSLJHU +XW QRFK VHLQ lUPHOORVHU 0DQWHO QRFK VHLQH YHUOHJHQH 0LHQH PDFKWHQ VLH DXFK QXU LP JHULQJVWHQ VWXW]LJ 6LH QDKP LKP GHQ 0DQWHO DE IRUGHUWH LKQ DXI LP (PSIDQJV]LPPHU ]X ZDUWHQ XQG JLQJ VRJOHLFK XP LKQ ]X PHOGHQ 'LH *HVHOOVFKDIW GLH VLFK EHL 1DVWDVMD )LOLSSRZQD YHUVDPPHOW KDWWH EHVWDQG DXV LKUHQ VWlQGLJHQ %HNDQQWHQ GLH LPPHUEHLLKUYHUNHKUWHQ(VZDUHQVRJDUQXU]LHPOLFKZHQLJH *lVWHDQZHVHQGLP9HUJOHLFKPLWGHQ9HUDQVWDOWXQJHQGLHLQ IUKHUHQ -DKUHQ DQ GHPVHOEHQ 7DJH VWDWWJHIXQGHQ KDWWHQ (UVFKLHQHQ ZDUHQ HUVWHQV XQG DOV +DXSWSHUVRQHQ $IDQDVVLM ,ZDQRZLWVFK 7R]NLM XQG ,ZDQ )MRGRURZLWVFK -HSDQWVFKLQ EHLGHEHQDKPHQVLFKVHKUOLHEHQVZUGLJDEHUEHLGHEHIDQGHQ VLFKLQHLQHUJHZLVVHQJHKHLPHQ8QUXKHGXUFKGLHQXUVFKOHFKW YHUKHKOWH 6SDQQXQJ DXI GLH YHUVSURFKHQH (QWVFKHLGXQJ EHU *DQMD $XHU LKQHQ ZDU VHOEVWYHUVWlQGOLFK DXFK *DQMD GD ± VHKU GVWHU QDFKGHQNOLFK XQG K|FKVW ªXQOLHEHQVZUGLJ© HU VWDQG PHLVW LQ HLQLJHU (QWIHUQXQJ DEVHLWV XQG VFKZLHJ :DV :DUMD DQODQJW VR KDWWH HU VLFK GDIU HQWVFKLHGHQ VLH OLHEHU QLFKW PLW]XEULQJHQ DEHU 1DVWDVMD )LOLSSRZQD WDW LKUHU JDU
QLFKW (UZlKQXQJ GDJHJHQ ILQJ VLH XQPLWWHOEDU QDFK *DQMDV %HJUXQJ DQ YRQ GHU 6]HQH ]X VSUHFKHQ GLH HU YRUKHU PLW GHP)UVWHQJHKDEWKDWWH'HU*HQHUDOGHUQRFKQLFKWVGDYRQ JHK|UW KDWWH LQWHUHVVLHUWH VLFK VHKU GDIU *DQMD HU]lKOWH LQ WURFNHQHP UXKLJHP 7RQ DEHU YROONRPPHQ ZDKUKHLWVJHPl DOOHV ZDV VLFK YRU NXU]HP EHJHEHQ KDWWH XQG GD HU EHUHLWV ]XP )UVWHQ KLQJHJDQJHQ VHL XP LKQ XP 9HU]HLKXQJ ]X ELWWHQ'DEHLVSUDFKHUPLWJURHU/HEKDIWLJNHLWVHLQH0HLQXQJ GDKLQ DXV ZHQQ PDQ GHQ )UVWHQ HLQHQ ,GLRWHQ QHQQH VR VHL GDV VHKU VRQGHUEDU XQG HLQ *UXQG GDIU XQHUILQGOLFK HU VHL YROOVWlQGLJ HQWJHJHQJHVHW]WHU $QVLFKW XQG KDOWH LKQ IU HLQHQ VHKU VHOEVWlQGLJ GHQNHQGHQ 0HQVFKHQ 1DVWDVMD )LOLSSRZQD K|UWH GLHVH bXHUXQJ PLW JURHU $XIPHUNVDPNHLW DQ XQG YHUIROJWH QHXJLHULJ *DQMDV 0LHQHQVSLHO DEHU GDV *HVSUlFK JLQJ VRJOHLFK DXI 5RJRVKLQ EHU GHU EHL GHQ 9RUJlQJHQ GHV 9RUPLWWDJV VR VWDUN EHWHLOLJW JHZHVHQ ZDU XQG IU GHQ $IDQDVVLM ,ZDQRZLWVFK XQG ,ZDQ )MRGRURZLWVFK VLFK JOHLFKIDOOV lXHUVW OHEKDIW ]X LQWHUHVVLHUHQ EHJDQQHQ %HVRQGHUH 0LWWHLOXQJHQ EHU 5RJRVKLQ ]X PDFKHQ ZDU ZLH VLFK KHUDXVVWHOOWH 3WL]\Q LQ GHU /DJH GHU VLFK LQ GHVVHQ JHVFKlIWOLFKHQ $QJHOHJHQKHLWHQ PLW LKP IDVW ELV QHXQ 8KU DEHQGV DEJHPKW KDWWH 5RJRVKLQ KDWWH PLW DOOHU (QHUJLH GDUDXI EHVWDQGHQ QRFK KHXWH KXQGHUWWDXVHQG 5XEHO ]X EHNRPPHQ ª(U ZDU DOOHUGLQJV EHWUXQNHQ© EHPHUNWH 3WL]\Q GDEHL ªDEHU WURW] DOOHU 6FKZLHULJNHLWHQ ZHUGHQ GLH KXQGHUWWDXVHQG5XEHOZRKOIULKQEHVFKDIIWZHUGHQQXUZHL LFK QLFKW RE KHXWH QRFK JDQ] DEHU HV DUEHLWHQ YLHOH GDUDQ 7UHSDORZ .LQGHU %LVNXS 3UR]HQWH JLEW HU VRYLHO HLQHU YHUODQJWQDWUOLFKDOOHVLQVHLQHU7UXQNHQKHLWXQGLQGHUHUVWHQ )UHXGH©VFKOR3WL]\Q $OOH GLHVH 0LWWHLOXQJHQ ZXUGHQ PLW ,QWHUHVVH HQWJHJHQJHQRPPHQ ]XP 7HLO DOOHUGLQJV PLW GVWHUHP ,QWHUHVVH1DVWDVMD)LOLSSRZQDVFKZLHJXQGZQVFKWHRIIHQEDU QLFKW VLFK ]X lXHUQ DXFK *DQMD UHGHWH QLFKW *HQHUDO
-HSDQWVFKLQ EHXQUXKLJWH VLFK LP VWLOOHQ QLFKW ZHQLJHU DOV GLH DQGHUQ GHU 3HUOHQVFKPXFN GHQ HU VFKRQ DP 9RUPLWWDJ EHUUHLFKWKDWWHZDUPLWVHKUNKOHU)UHXQGOLFKNHLWXQGVRJDU PLW HLQHP HLJHQWPOLFKHQ /lFKHOQ LQ (PSIDQJ JHQRPPHQ ZRUGHQ )HUG\VFKWVFKHQNR ZDU YRQ DOOHQ *lVWHQ GHU HLQ]LJH GHU VLFK LQ KHLWHUHU IHVWWlJOLFKHU 6WLPPXQJ EHIDQG HU ODFKWH PDQFKPDO ODXW RKQH VLFKWEDUHQ *UXQG OHGLJOLFK ZHLO HU GLH 5ROOH GHV 6SDPDFKHUV EHUQRPPHQ KDWWH $IDQDVVLM ,ZDQRZLWVFK VHOEVW GHU IU HLQHQ JHLVWUHLFKHQ HOHJDQWHQ 3ODXGHUHU JDOW XQG LQ IUKHUHU =HLW EHL GLHVHQ $EHQGJHVHOOVFKDIWHQ JHZ|KQOLFK GDV *HVSUlFK JHOHLWHW KDWWH EHIDQGVLFKRIIHQEDUQLFKWLQGHUUHFKWHQ6WLPPXQJXQGVRJDU LQHLQHULKPVRQVWIUHPGHQ9HUZLUUXQJ'LHDQGHUQ*lVWHGLH EULJHQV ZHQLJ ]DKOUHLFK ZDUHQ HLQ MlPPHUOLFKHU DOWHU /HKUHU GHU *RWW ZHL ZHVKDOE HLQJHODGHQ ZDU HLQ XQEHNDQQWHU VHKU MXJHQGOLFKHU 0HQVFK GHU IXUFKWEDU VFKFKWHUQ ZDU XQG GLH JDQ]H =HLW EHU VFKZLHJ HLQH JHZDQGWHHWZDYLHU]LJMlKULJH'DPH6FKDXVSLHOHULQXQGHLQH DXHURUGHQWOLFK KEVFKH VHKU VFK|Q XQG OX[XUL|V JHNOHLGHWH XQGEHUDXVVWLOOHMXQJH)UDX YHUPRFKWHQGDV*HVSUlFKQLFKW VRQGHUOLFK ]X EHOHEHQ MD VLH ZXWHQ PDQFKPDO JDU QLFKW ZRYRQVLHVSUHFKHQVROOWHQ 8QWHU GLHVHQ 8PVWlQGHQ NDP GDV (UVFKHLQHQ GHV )UVWHQ VRJDU VHKU JHOHJHQ 'LH 0HOGXQJ YRQ VHLQHU $QNXQIW ULHI HLQLJH 9HUZXQGHUXQJ XQG HLQ HLJHQWPOLFKHV /lFKHOQ KHUYRU QDPHQWOLFK DOV GLH *lVWH DQ 1DVWDVMD )LOLSSRZQDV HUVWDXQWHP *HVLFKW PHUNWHQ GD HV LKU EHUKDXSW QLFKW LQ GHQ 6LQQ JHNRPPHQ ZDU LKQ HLQ]XODGHQ $EHU QDFK GLHVHP HUVWHQ (UVWDXQHQ EHNXQGHWH 1DVWDVMD )LOLSSRZQD DXI HLQPDO HLQH VROFKH )UHXGH GD GLH 0HKU]DKO GHU $QZHVHQGHQ VLFK VRJOHLFK DQVFKLFNWH GHQ XQHUZDUWHWHQ *DVW PLW /DFKHQ XQG +HLWHUNHLW]XHPSIDQJHQ ª(UWXWGDVDOOHUGLQJV DXV1DLYLWlW© EHPHUNWH ,ZDQ )MRGRURZLWVFK -HSDQWVFKLQ ªXQG HV LVW MHGHQIDOOVQLFKWXQJHIlKUOLFKVROFKH1HLJXQJHQ]XHUPXWLJHQ
DEHU LP JHJHQZlUWLJHQ $XJHQEOLFN LVW HV ZLUNOLFK QLFKW EHO GDHUDXIGHQ(LQIDOOJHNRPPHQLVWKLHU]XHUVFKHLQHQZHQQ DXFK LQ VR RULJLQHOOHU 0DQLHU (U ZLUG YLHOOHLFKW ]X XQVHUHU (UKHLWHUXQJEHLWUDJHQVRZHLWLFKZHQLJVWHQVEHULKQXUWHLOHQ NDQQ©ª'DVPXHUXPVRPHKUDOVHUVLFKHLQJHGUlQJWKDW© IJWH )HUG\VFKWVFKHQNR UDVFK KLQ]X ª:DV VROO GDV KHLHQ"© IUDJWHWURFNHQGHU *HQHUDO GHU )HUG\VFKWVFKHQNR QLFKW OHLGHQ NRQQWHª(UPXHEHQ(LQWULWWVJHOGEH]DKOHQ©HUZLGHUWHGLHVHU HUOlXWHUQG ª1XQ )UVW 0\VFKNLQ LVW GHQQ GRFK NHLQ )HUG\VFKWVFKHQNR©NRQQWHVLFKGHU*HQHUDOQLFKWHQWKDOWHQ]X HQWJHJQHQ(UNRQQWHVLFKLPPHUQRFKQLFKWGDUHLQILQGHQGD HUVLFKPLW)HUG\VFKWVFKHQNRLQHLQXQGGHUVHOEHQ*HVHOOVFKDIW EHILQGHQXQGPLWLKPDXIJOHLFKHP)XHYHUNHKUHQVROOWHª(L HL *HQHUDO YHUJUHLIHQ 6LH VLFK QLFKW DQ )HUG\VFKWVFKHQNR© DQWZRUWHWH GLHVHU VFKPXQ]HOQG ª,FK KDEH KLHU PHLQH EHVRQGHUHQ3ULYLOHJLHQ©ª:DVIU3ULYLOHJLHQ"©ª,FKKDWWHGDV YRULJH 0DO GLH (KUH HV GHU *HVHOOVFKDIW DXVIKUOLFK DXVHLQDQGHU]XVHW]HQXQGZLOOHVMHW]WIU(XHU([]HOOHQ]QRFK HLQPDO ZLHGHUKROHQ :ROOHQ (XHU ([]HOOHQ] IROJHQGHV HUZlJHQ DOOH 0HQVFKHQ VLQG JHLVWUHLFK QXU LFK EHVLW]H GLHVH (LJHQVFKDIW QLFKW =XP $XVJOHLFK KDEH LFK PLU GLH (UODXEQLV HUZLUNWGLH:DKUKHLWVDJHQ]XGUIHQGDDOOHQEHNDQQWLVWGD GLH :DKUKHLW QXU /HXWH VDJHQ GHQHQ HV DQ *HLVW PDQJHOW $XHUGHP ELQ LFK HLQ VHKU UDFKVFKWLJHU 0HQVFK XQG ]ZDU ZLHGHU HEHQ GHVZHJHQ ZHLO LFK QLFKW JHLVWUHLFK ELQ ,FK HUWUDJH GHPWLJ MHGH %HOHLGLJXQJ DEHU QXU VR ODQJH ELV HV PHLQHP %HOHLGLJHU HLQPDO VFKLHIJHKW VRZLH GDV HLQWULWW HULQQHUH LFK PLFK VRIRUW DQ GLH %HOHLGLJXQJ XQG UlFKH PLFK LUJHQGZLH LFK VFKODJH DXV ZLH ,ZDQ 3HWURZLWVFK 3WL]\Q HLQPDOYRQPLUVDJWHGHUQDWUOLFKIUVHLQH3HUVRQQLHJHJHQ MHPDQG DXVVFKOlJW .HQQHQ (XHU ([]HOOHQ] GLH .U\ORZVFKH )DEHO¾'HU/|ZHXQGGHU(VHO½"1DGLHSDWDXIXQVEHLGHDXI 6LH XQG PLFK GLH LVW DXI XQV ]XJHVFKQLWWHQ© ª6LH VLQG ZRKO ZLHGHU HLQPDO LQV )DVHOQ JHNRPPHQ )HUG\VFKWVFKHQNR©
EUDXVWH GHU *HQHUDO DXI ª$EHU ZDV KDEHQ 6LH GHQQ ([]HOOHQ]"©HUZLGHUWH)HUG\VFKWVFKHQNRGHUGDUDXIJHUHFKQHW KDWWH HLQ :RUWJHIHFKW KHUEHL]XIKUHQ XQG ZHLWHU]XVDOEDGHUQ ª%HXQUXKLJHQ 6LH VLFK QLFKW ([]HOOHQ] LFK NHQQH PHLQHQ 3ODW]ZHQQLFKVDJWHGD6LHXQGLFKGHU/|ZHXQGGHU(VHO DXV GHU .U\ORZVFKHQ )DEHO VHLHQ VR EHUQHKPH LFK QDWUOLFK GLH5ROOHGHV(VHOVXQG(XHU([]HOOHQ]GLHGHV/|ZHQZLHHV MDDXFKLQGHU.U\ORZVFKHQ)DEHOKHLW ¾'HU PlFKW¶JH /HX GHU HLQVW GLH :lOGHU HUVFKUHFNWH ZDU QXQDOWHUVVFKZDFK½,FKDEHU([]HOOHQ]ELQGHU(VHO© ª0LW OHW]WHUHP ELQ LFK HLQYHUVWDQGHQ© SODW]WH GHU *HQHUDO KHUDXV $OOHV ZDV )HUG\VFKWVFKHQNR GD VDJWH ZDU MD SOXPS DEVLFKWOLFK SOXPS DEHU HV ZDU QXQ HLQPDO EOLFK JHZRUGHQ GD PDQ )HUG\VFKWVFKHQNR GLH 5ROOH HLQHV &ORZQV VSLHOHQ OLH ª1XU GHVKDOE YHUVWDWWHW PDQ PLU MD KLHU GHQ =XWULWW XQG GXOGHW PLFK© KDWWH )HUG\VFKWVFKHQNR HLQPDO HUNOlUW ªGDPLW LFK LQ GLHVHP 7RQ UHGH ,Q GHU 7DW N|QQWH PDQ VRQVW HLQHQ 0HQVFKHQ PHLQHU $UW HPSIDQJHQ" ,FK EHJUHLIH MD GDV DOOHV 1D NDQQ PDQ HWZD PLFK GHQ DUPVHOLJHQ )HUG\VFKWVFKHQNR QHEHQ HLQHQ VR IHLQHQ *HQWOHPDQ ZLH $IDQDVVLM ,ZDQRZLWVFK VHW]HQ" :HQQ PDQ HV GRFK WXW VR JLEW HV GDIU QXU HLQH (UNOlUXQJPDQWXWHVHEHQGHVKDOEZHLOHVXQGHQNEDULVW© $EHU ZHQQ HU DXFK JHZ|KQOLFK SOXPS ZDU VR ZDU HU GRFK DXFKRIWELVVLJXQGPDQFKPDOVRJDULQKRKHP*UDGHXQGGDV ZDUHVZRUDQ1DVWDVMD)LOLSSRZQD*HIDOOHQ]XILQGHQVFKLHQ :HU EHL LKU ]X YHUNHKUHQ ZQVFKWH GHP EOLHE QLFKWV DQGHUHV EULJ DOV GLHVHQ )HUG\VFKWVFKHQNR ]X HUWUDJHQ (U KDWWH YLHOOHLFKW ZLUNOLFK GLH YROOH :DKUKHLW HUUDWHQ DOV HU GLH 9HUPXWXQJDXVVSUDFKGDVLHLKQGHVZHJHQHPSIDQJHZHLOHU JOHLFK EHL VHLQHU HUVWHQ $QZHVHQKHLW DXI 7R]NLM HLQHQ XQHUWUlJOLFKHQ (LQGUXFN JHPDFKW KDWWH *DQMD VHLQHUVHLWV PXWH VLFK YRQ LKP HLQH HQGORVH 5HLKH YRQ 0DUWHUQ JHIDOOHQ ODVVHQ XQG LQ GLHVHU +LQVLFKW ZXWH VLFK )HUG\VFKWVFKHQNR VHLQHU *|QQHULQ VHKU QW]OLFK ]X PDFKHQ ª=XHUVW ZHUGH LFK
YRP )UVWHQ YHUODQJHQ GD HU XQV HLQ PRGHUQHV /LHG YRUVLQJW© EHPHUNWH )HUG\VFKWVFKHQNR XQG SDWH DXI ZDV 1DVWDVMD)LOLSSRZQDGD]XVDJHQZUGHª,FKJODXEHQLFKWGD HUGDVWXQZLUG)HUG\VFKWVFKHQNRXQGP|FKWH6LHELWWHQVLFK QLFKW]XVHKULQV=HXJ]XOHJHQ©ª$KDK1XQZHQQHUXQWHU ,KUHP EHVRQGHUHQ 6FKXW] VWHKW GDQQ ZHUGH DXFK LFK PLFK HUZHLFKHQODVVHQ© $EHU 1DVWDVMD )LOLSSRZQD VWDQG RKQH KLQ]XK|UHQ DXI XQG JLQJ VHOEVW GHP )UVWHQ HQWJHJHQ ª,FK KDEH EHGDXHUW© VDJWH VLH SO|W]OLFK YRU LKQ KLQWUHWHQG ªGD LFK YRUKLQ LQ GHU (LOH YHUJHVVHQ KDEH 6LH HLQ]XODGHQ XQG LFK IUHXH PLFK VHKU GD 6LH PLU MHW]W VHOEVW GLH *HOHJHQKHLW JHEHQ ,KU HQWVFKORVVHQHV 9HUKDOWHQ]XOREHQXQG,KQHQ]XGDQNHQ© :lKUHQGVLHGDVVDJWHEOLFNWHVLHGHQ)UVWHQIRUVFKHQGDQ EHPKW EHU GHQ *UXQG VHLQHV .RPPHQV .ODUKHLW ]X HUODQJHQ'HU)UVWKlWWHDXILKUHIUHXQGOLFKHQ:RUWHYLHOOHLFKW HWZDV HUZLGHUW DEHU HU ZDU GHUPDHQ YRQ LKUHU (UVFKHLQXQJ EHUUDVFKW XQG JHEOHQGHW GD HU NHLQ :RUW KHUDXVEULQJHQ NRQQWH1DVWDVMD)LOLSSRZQDEHPHUNWHGLHVPLW9HUJQJHQ6LH ZDU DQ GLHVHP $EHQG LQ JURHU 7RLOHWWH XQG PDFKWH HLQHQ DXHURUGHQWOLFKVWDUNHQ(LQGUXFN6LHHUJULIILKQEHLGHU+DQG XQGIKUWHLKQ]XGHQ*lVWHQ8QPLWWHOEDUYRUGHP(LQJDQJLQ GHQ 6DORQ EOLHE GHU )UVW SO|W]OLFK VWHKHQ XQG IOVWHUWH LKU LQ JURHU(UUHJXQJKDVWLJ]Xª$Q,KQHQLVWDOOHVYROONRPPHQ VRJDU ,KUH $EJH]HKUWKHLW XQG %OlVVH PDQ P|FKWH 6LH VLFK JDU QLFKW DQGHUV YRUVWHOOHQ ,FK KDWWH HLQ VR VWDUNHV 9HUODQJHQ ]X ,KQHQ ]X JHKHQ LFK YHU]HLKHQ 6LH PLU © ª%LWWHQ6LHQLFKWXP9HU]HLKXQJ©HUZLGHUWHODFKHQG1DVWDVMD )LOLSSRZQD ªGDGXUFK ZLUG ,KUH JDQ]H 6RQGHUEDUNHLW XQG 2ULJLQDOLWlW ]HUVW|UW 8QG HV ZLUG GRFK PLW 5HFKW EHU 6LH JHVDJWGD6LHHLQVRQGHUEDUHU0HQVFKVHLHQ$OVR6LHKDOWHQ PLFKIUYROONRPPHQMD"© ª-D© ª6LHVLQG]ZDUVRQVWHLQ0HLVWHULP(UUDWHQDEHUKLHU KDEHQ 6LH VLFK JHLUUW ,FK ZHUGH 6LH QRFK KHXWH GDUDQ
HULQQHUQ© 6LH VWHOOWH GHQ )UVWHQ GHQ *lVWHQ YRU YRQ GHQHQ HU GHU JU|HUHQ+lOIWHEHUHLWVEHNDQQWZDU7R]NLMVDJWHLKPVRJOHLFK HLQH /LHEHQVZUGLJNHLW $OOH VFKLHQHQ HWZDV OHEHQGLJHU ]X ZHUGHQ DOOH EHJDQQHQ DXI HLQPDO ]X UHGHQ XQG ]X ODFKHQ 1DVWDVMD )LOLSSRZQD ZLHV GHP )UVWHQ HLQHQ 3ODW] DQ LKUHU 6HLWH]Xª$EHUZDVLVWGHQQHLJHQWOLFKDQGHP(UVFKHLQHQGHV )UVWHQ VR 9HUZXQGHUOLFKHV"© EHUVFKULH )HUG\VFKWVFKHQNR DOOH ª'LH 6DFKH LVW GRFK NODU GLH 6DFKH VSULFKW IU VLFK VHOEVW©ª'LH6DFKHLVWQXU]XNODUXQGVSULFKWQXU]XVHKUIU VLFK VHOEVW© VDJWH DXI HLQPDO *DQMD GHU ELVKHU JHVFKZLHJHQ KDWWH ª,FK KDEH GHQ )UVWHQ ELV KHXWH IDVW XQXQWHUEURFKHQ EHREDFKWHW YRQ GHP $XJHQEOLFN DQ DOV HU LQ ,ZDQ )MRGRURZLWVFKV:RKQXQJ]XPHUVWHQPDO1DVWDVMD)LOLSSRZQDV %LOGDXIGHP7LVFKHOLHJHQVDK,FKHULQQHUHPLFKVHKUJHQDX GDPLUJOHLFKGDPDOVHLQ*HGDQNHDQGDVNDPZDVPLUMHW]W ]XU YROOHQ hEHU]HXJXQJ JHZRUGHQ LVW XQG ZDV PLU EHLOlXILJ JHVDJWGHU)UVWVHOEVWJHVWDQGHQKDW© *DQMDKDWWHGDVDOOHVVHKUHUQVWRKQHGLHJHULQJVWH6SXUYRQ 6FKHU]KDIWLJNHLW MD PLW ILQVWHUHU 0LHQH JHVDJW ZDV HLQHQ ]LHPOLFK VHOWVDPHQ (LQGUXFN PDFKWH ª,FK KDEH ,KQHQ NHLQH *HVWlQGQLVVH JHPDFKW© DQWZRUWHWH GHU )UVW HUU|WHQG ªLFK KDEH QXU HLQH )UDJH EHDQWZRUWHW GLH 6LH DQ PLFK ULFKWHWHQ© ª%UDYR EUDYR© ULHI )HUG\VFKWVFKHQNR ª'DV LVW ZHQLJVWHQV DXIULFKWLJJHVSURFKHQDXIULFKWLJXQG]XJOHLFKVFKODX© $OOH ODFKWHQ ODXW ª6FKUHLHQ 6LH GRFK QLFKW VR )HUG\VFKWVFKHQNR© VDJWH 3WL]\Q PLW JHGlPSIWHU 6WLPPH XQZLOOLJ ]X LKP ª6ROFKH %UDYRXUVWFNH KlWWH LFK ZDKUKDIWLJ QLFKW YRQ ,KQHQ HUZDUWHW )UVW© EHPHUNWH ,ZDQ )MRGRURZLWVFK ª=X ZHOFKHU 0HQVFKHQNODVVH PX PDQ 6LH GDQDFK UHFKQHQ" 8QG LFK KDWWH 6LH IU HLQHQ 3KLORVRSKHQ JHKDOWHQ-DMDGLHVWLOOHQ:lVVHUFKHQ©ª8QGGDUDXVGDGHU )UVW EHL HLQHP KDUPORVHQ 6FKHU] URW ZLUG ZLH HLQ XQVFKXOGLJHV MXQJHV 0lGFKHQ VFKOLHH LFK GD HU DOV HLQ
HKUHQZHUWHU -QJOLQJ LQ VHLQHP +HU]HQ GLH O|EOLFKVWHQ $EVLFKWHQKHJW©VDJWHRGHUULFKWLJHUOLVSHOWHDXIHLQPDOJDQ] XQHUZDUWHW GHU ]DKQORVH VLHE]LJMlKULJH /HKUHU GHU ELV GDKLQ YROOVWlQGLJ VWXPP JHZHVHQ ZDU XQG YRQ GHP QLHPDQG KDWWH HUZDUWHQ N|QQHQ GD HU LP /DXIH GHV $EHQGV EHUKDXSW HLQ :RUWUHGHQZUGH $OOH ODFKWHQ QXU QRFK PHKU 'HU $OWH GHU ZDKUVFKHLQOLFK JODXEWHPDQODFKHEHUVHLQHJHLVWUHLFKH%HPHUNXQJEHJDQQ DOOH DQVHKHQG QRFK VWlUNHU DOV VLH ]X ODFKHQ ZREHL HU LQ HLQ KHIWLJHV +XVWHQ KLQHLQJHULHW VR GD 1DVWDVMD )LOLSSRZQD GLH ZXQGHUOLFKHUZHLVHIUDOOVROFKHRULJLQHOOHQ*UHLVH*UHLVLQQHQ XQG VHOEVW 1DUUHQ HLQH EHVRQGHUH 6FKZDFKH KDWWH VRJOHLFK DQILQJ LKQ ]X OLHENRVHQ XQG ]X NVVHQ XQG LKP QRFK 7HH UHLFKHQ OLH 9RQ GHU HLQWUHWHQGHQ 'LHQHULQ OLH VLH VLFK HLQH 0DQWLOOHEULQJHQLQGLHVLHVLFKHLQKOOWHDXFKJDEVLH%HIHKO QRFK+RO]LP.DPLQQDFK]XOHJHQ$XIGLH)UDJHZLHVSlWHV VHL DQWZRUWHWH GLH 'LHQHULQ HV VHL VFKRQ KDOE HOI ª0HLQH +HUUHQ ZROOHQ 6LH QLFKW &KDPSDJQHU WULQNHQ"© VFKOXJ 1DVWDVMD)LOLSSRZQDSO|W]OLFKYRU ª,FKKDEHDOOHVYRUEHUHLWHQ ODVVHQ 9LHOOHLFKW ZLUG 6LH GDV OXVWLJHU PDFKHQ %LWWH RKQH VLFK]XJHQLHUHQ© 'LH (LQODGXQJ ]X WULQNHQ XQG QDPHQWOLFK LQ VR QDLYHQ $XVGUFNHQPDFKWHVLFKYRQ1DVWDVMD)LOLSSRZQDV6HLWHUHFKW VRQGHUEDU $OOH NDQQWHQ GLH VWUHQJH (WLNHWWH GLH DXI LKUHQ IUKHUHQ $EHQGJHVHOOVFKDIWHQ JHKHUUVFKW KDWWH hEHUKDXSW JHVWDOWHWH VLFK GLHVHU $EHQG OXVWLJHU DEHU LQ XQJHZ|KQOLFKHU :HLVH'LH$XIIRUGHUXQJ]XP&KDPSDJQHUWULQNHQOHKQWHQGLH *lVWH QLFKW DE ]XHUVW QDKP VLH GHU *HQHUDO DQ GDQQ GLH JHZDQGWH 'DPH GHU DOWH /HKUHU )HUG\VFKWVFKHQNR GDQDFK DOOH DQGHUQ $XFK 7R]NLM JULII QDFK HLQHP *ODVH LQ GHU +RIIQXQJ GHP QHXHQ 7RQ GHU MHW]W DQJHVFKODJHQ ZDU HLQH JHZLVVHKDUPRQLVFKH)lUEXQJ]XYHUOHLKHQLQGHPHULKPQDFK 0|JOLFKNHLW GHQ &KDUDNWHU HLQHV OLHEHQVZUGLJHQ 6FKHU]HV JDE *DQMD ZDU GHU HLQ]LJH GHU QLFKWV WUDQN $XV GHQ
VRQGHUEDUHQ PLWXQWHU VHKU VFKDUIHQ XQG KDVWLJHQ $XVIlOOHQ 1DVWDVMD )LOLSSRZQDV GLH VLFK HEHQIDOOV :HLQ JHEHQ OLH XQG HUNOlUWH VLH ZHUGH DQ GLHVHP $EHQG GUHL JURH *OlVHU YROO WULQNHQ XQG DXV LKUHP K\VWHULVFKHQ JUXQGORVHQ /DFKHQ GDV GDQQ SO|W]OLFK PLW 6FKZHLJVDPNHLW XQG VRJDU PLW GVWHUHU 1DFKGHQNOLFKNHLW ZHFKVHOWH DXV DOOHGHP ZDU VFKZHU NOXJ ]X ZHUGHQ 0DQFKH YHUPXWHWHQ VLH KlWWH )LHEHU VFKOLHOLFK PHUNWH PDQ GD VLH DQVFKHLQHQG DXI HWZDV ZDUWHWH RIW QDFK GHU 8KU VDK XQG XQJHGXOGLJ XQG ]HUVWUHXW ZXUGH ª6LH VFKHLQHQHLQELFKHQ]XILHEHUQ"© IUDJWH GLH JHZDQGWH 'DPH ª1LFKWHLQELFKHQVRQGHUQUHFKWVWDUNGDUXPKDEHLFKPLFK DXFK LQ GLH 0DQWLOOH JHZLFNHOW© DQWZRUWHWH 1DVWDVMD )LOLSSRZQD GLH WDWVlFKOLFK EODVVHU JHZRUGHQ ZDU XQG DE XQG ]XHLQKHIWLJHV=LWWHUQLQLKUHP.|USHU]XXQWHUGUFNHQVFKLHQ $OOH *lVWH JHULHWHQ LQ 8QUXKH XQG %HZHJXQJ ª6ROOWHQ ZLU QLFKW XQVHUHU :LUWLQ 5XKH J|QQHQ"© VDJWH 7R]NLM LQGHP HU ,ZDQ)MRGRURZLWVFKDQVDK ª'XUFKDXVQLFKWPHLQH+HUUVFKDIWHQ,FKELWWH6LHGULQJHQG VLW]HQ]XEOHLEHQ,KUH$QZHVHQKHLWLVWEHVRQGHUVKHXWHIUPLFK QRWZHQGLJ© HUNOlUWH 1DVWDVMD )LOLSSRZQD QDFKGUFNOLFK XQG EHGHXWVDP 8QG GD IDVW DOOH *lVWH VFKRQ ZXWHQ GD DQ GLHVHP $EHQG HLQH VHKU EHGHXWVDPH (QWVFKHLGXQJ IDOOHQ VROOWH VR HUVFKLHQHQ GLHVH :RUWH EHVRQGHUV VFKZHUZLHJHQG 'HU *HQHUDO XQG 7R]NLM ZHFKVHOWHQ ZLHGHU HLQHQ %OLFN PLWHLQDQGHU *DQMD PDFKWH NUDPSIKDIWH %HZHJXQJHQ ª(V ZlUH JDQ] QHWW ZHQQ ZLU HLQ *HVHOOVFKDIWVVSLHO VSLHOWHQ© VDJWH GLH JHZDQGWH 'DPH ª,FK NHQQH HLQ SUDFKWYROOHV QHXHV *HVHOOVFKDIWVVSLHO© HUNOlUWH )HUG\VFKWVFKHQNR ª,FK ZHL QXU YRQHLQHP )DOO ZR HV DXI GHU :HOW JHVSLHOW ZXUGH XQG DXFK GD JHODQJ HV QLFKW© ª:DV LVW GDV IU HLQ 6SLHO"© IUDJWH GLH JHZDQGWH 'DPH ª:LU ZDUHQ HLQPDO LQ HLQHU *HVHOOVFKDIW ]XVDPPHQQXQXQGZLUKDWWHQHLQELFKHQJHWUXQNHQGDVLVW ULFKWLJXQGGDPDFKWHHLQHUGHQ9RUVFKODJHVVROOWHMHGHUYRQ XQV RKQH YRP 7LVFK DXI]XVWHKHQ ODXW HWZDV YRQ VLFK
HU]lKOHQ DEHU HWZDV ZDV HU VHOEVW QDFK EHVWHP :LVVHQ XQG *HZLVVHQ IU GLH VFKOHFKWHVWH +DQGOXQJ YRQ DOOHQ VFKOHFKWHQ +DQGOXQJHQ KDOWH GLH HU LP /DXIH VHLQHV JDQ]HQ /HEHQV EHJDQJHQ KDEH DEHU 9RUVFKULIW VROOWH GDEHL VHLQ GD ZDKUKHLWVJHPl HU]lKOW ZHUGHQ PVVH GDV ZDU GLH +DXSWVDFKH MHGHU VROOWH ZDKUKHLWVJHPl HU]lKOHQ XQG QLFKW OJHQ© ª(LQH VRQGHUEDUH ,GHH© VDJWH GHU *HQHUDO ª6HKU VRQGHUEDU DOOHUGLQJV ([]HOOHQ] DEHU HEHQ GDUXP JXW© ª(LQ NRPLVFKHU*HGDQNH©PHLQWH7R]NLMªGHUEULJHQVEHJUHLIOLFK LVWHVVWHFNWHLQHHLJHQDUWLJH3UDKOVXFKWGDKLQWHU© ª9LHOOHLFKW ZDU JHUDGH GDV GLH $EVLFKW $IDQDVVLM ,ZDQRZLWVFK© ª$EHU EHL HLQHP VROFKHQ *HVHOOVFKDIWVVSLHO PX PDQ MD ZHLQHQ XQG QLFKW ODFKHQ© EHPHUNWH GLH JHZDQGWH 'DPH ª(LQH JDQ] XQP|JOLFKH DEVXUGH 6DFKH© ULHI 3WL]\Q ª8QG LVW HV JHOXQJHQ"© IUDJWH 1DVWDVMD )LOLSSRZQD ª'DV LVW HV MD HEHQ GD HV QLFKW JHODQJ GLH *HVFKLFKWH ZXUGH VFKOLHOLFK ZLGHUZlUWLJ-HGHUHU]lKOWHZLUNOLFKHWZDVYLHOHGLH:DKUKHLW XQG GHQNHQ 6LH VLFK PDQFKH HU]lKOWHQ VRJDU PLW 9HUJQJHQ $EHU GDQQ ILQJ HLQ MHGHU DQ VLFK ]X VFKlPHQ XQG GDV 6SLHO NRQQWH QLFKW ZHLWHU GXUFKJHIKUW ZHUGHQ ,P JDQ]HQ ZDU HV EULJHQV UHFKW YHUJQJOLFK GDV KHLW LQ VHLQHU $UW© ª1HLQ ZLUNOLFKGDVZlUHVFK|Q©EHPHUNWH1DVWDVMD)LOLSSRZQDGLH DXI HLQPDO JDQ] OHEHQGLJ ZXUGH ª'DV VROOWHQ ZLU ZLUNOLFK SURELHUHQ PHLQH +HUUVFKDIWHQ :LU VFKHLQHQ LQ GHU 7DW QLFKW LQ EHVRQGHUV KHLWHUHU 6WLPPXQJ ]X VHLQ :HQQ MHGHU YRQ XQV GDPLWHLQYHUVWDQGHQZlUHHWZDV]XHU]lKOHQHWZDVLQGLHVHU $UWVHOEVWYHUVWlQGOLFKQXUZHQQHUHLQYHUVWDQGHQLVWMHGHU PX IUHLH +DQG KDEHQ QLFKW ZDKU" 9LHOOHLFKW N|QQHQ ZLU HV GXUFKIKUHQ :HQLJVWHQV LVW HV VHKU RULJLQHOO© ª-D HV LVW HLQ JHQLDOHU *HGDQNH© IJWH )HUG\VFKWVFKHQNR EHNUlIWLJHQG KLQ]X ª'LH 'DPHQ VLQG EULJHQV GLVSHQVLHUW GLH +HUUHQ PDFKHQ GHQ $QIDQJ GLH 2UGQXQJ ZLUG GXUFK GDV /RV EHVWLPPW ZLH ZLU HV DXFK GDPDOV PDFKWHQ :LU ZROOHQ HV XQEHGLQJW WXQ XQEHGLQJW :HU DEVROXW QLFKW ZLOO EUDXFKW
QDWUOLFK QLFKW ]X HU]lKOHQ DEHU GD]X PWH VFKRQ HLQHU EHVRQGHUV XQOLHEHQVZUGLJ VHLQ *HEHQ 6LH ,KUH /RVH KHU PHLQH +HUUHQ KLHUKHU PLU OHJHQ 6LH VLH LQ PHLQHQ +XW GHU )UVW ZLUG VLH ]LHKHQ (V LVW HLQH JDQ] OHLFKWH $XIJDEH GLH VFKOHFKWHVWH +DQGOXQJ DXV VHLQHP JDQ]HQ /HEHQ ]X HU]lKOHQ GDV LVW VHKU OHLFKW PHLQH +HUUHQ 1XQ 6LH ZHUGHQ VHOEVW VHKHQ:HQQDEHUMHPDQGHWZDVYHUJHVVHQVROOWHVRZHUGHLFK VRJOHLFKVHLQHP*HGlFKWQLV]X+LOIHNRPPHQ© 'LH ,GHH ZDU K|FKVW VRQGHUEDU XQG JHILHO IDVW QLHPDQGHP 'LH HLQHQ PDFKWHQ ILQVWHUH *HVLFKWHU GLH DQGHUHQ OlFKHOWHQ VFKODX0DQFKHHUKREHQ(LQZHQGXQJHQZHQQDXFKQLFKWVHKU HQHUJLVFK VR ]XP %HLVSLHO ,ZDQ )MRGRURZLWVFK GHU 1DVWDVMD )LOLSSRZQD QLFKW KLQGHUOLFK VHLQ PRFKWH XQG EHPHUNWH ZLH VHKU GLHVHU VRQGHUEDUH (LQIDOO YLHOOHLFKW HEHQ GHVZHJHQ ZHLO HUVRQGHUEDUXQGEHLQDKXQGXUFKIKUEDUZDUVLHUHL]WH:HQQ 1DVWDVMD )LOLSSRZQD VLFK HLQPDO HQWVFKORVVHQ KDWWH LKUH :QVFKH DXV]XVSUHFKHQ VR OLH VLH VLFK DXFK QLFKW PHKU ]XUFNKDOWHQ XQG NDQQWH NHLQH 5FNVLFKWHQ PRFKWHQ DXFK GLHVH :QVFKH QRFK VR NDSUL]L|V XQG IU VLH VHOEVW JDQ] QXW]ORV VHLQ 8QG MHW]W EHIDQG VLH VLFK LQ HLQHU $UW YRQ K\VWHULVFKHP =XVWDQG VLH HQWZLFNHOWH HLQH XQUXKLJH *HVFKlIWLJNHLW XQG ODFKWH NUDPSIKDIW XQG LQ HLQ]HOQHQ $QIlOOHQQDPHQWOLFKEHLGHQ(LQZHQGXQJHQGHVEHXQUXKLJWHQ 7R]NLM,KUHGXQNOHQ$XJHQEOLW]WHQDXILKUHQEODVVHQ:DQJHQ WUDWHQ ]ZHL URWH )OHFNHQ KHUYRU 'HU EHGUFNWH PUULVFKH *HVLFKWVDXVGUXFN PDQFKHU LKUHU *lVWH VWHLJHUWH LKUHQ VSRWWOXVWLJHQ:XQVFKYLHOOHLFKWQRFKPHKUYLHOOHLFKWJHILHOLKU JHUDGH GHU =\QLVPXV XQG GLH *UDXVDPNHLW GLH LQ GLHVHU ,GHH ODJHQ 0DQFKH ZDUHQ VRJDU EHU]HXJW GD VLH GD HLQHQ EHVRQGHUHQ=ZHFNYHUIROJH,QGHVVHQEHJDQQHQGLH*lVWHVLFK HLQYHUVWDQGHQ]XHUNOlUHQMHGHQIDOOVZDUGLH6DFKHLQWHUHVVDQW XQG IU YLHOH VRJDU VHKU YHUORFNHQG $P HLIULJVWHQ YRQ DOOHQ ]HLJWHVLFK)HUG\VFKWVFKHQNR ª$EHUZHQQQXQHWZDVYRQGHU $UW LVW GD PDQ HV LQ 'DPHQJHVHOOVFKDIW XQP|JOLFK HU]lKOHQ
NDQQ"© EHPHUNWH GHU VFKZHLJVDPH -QJOLQJ VFKFKWHUQ ª'DQQ HU]lKOHQ 6LH HV QLFKW $OV RE HV QLFKW DXFK RKQH GDV JHQXJ VFKOHFKWH +DQGOXQJHQ JlEH© HUZLGHUWH )HUG\VFKWVFKHQNR ª(LHL6LHMXQJHU0DQQ© ª$EHULFKZHL JDU QLFKW ZHOFKH PHLQHU +DQGOXQJHQ LFK IU GLH VFKOHFKWHVWH KDOWHQ VROO© ZDUI GLH JHZDQGWH 'DPH HLQ ª'LH 'DPHQ VLQG YRQ GHU 3IOLFKW ]X HU]lKOHQ GLVSHQVLHUW© ZLHGHUKROWH )HUG\VFKWVFKHQNR ªDEHU HEHQ QXU GLVSHQVLHUW ZHQQ VLH VLFK DXV IUHLHQ 6WFNHQ GD]X EHUHLW ILQGHQ VR ZLUG GDV PLW GDQNEDUHU $QHUNHQQXQJ DXIJHQRPPHQ 'LH +HUUHQ DEHU ZHUGHQ QXU GLVSHQVLHUW ZHQQ VLH GXUFKDXV QLFKW ZROOHQ© ª$EHU ZLH VROO LFK GD EHZHLVHQ GD LFK QLFKW OJH"© IUDJWH *DQMDª:HQQLFKDEHUOJHVRYHUOLHUWGDVJDQ]H6SLHOVHLQHQ 6LQQ8QGZHUZLUGGHQQQLFKWOJHQ"-HGHUZLUGHVXQIHKOEDU WXQ©ª$EHUDXFKGDVLVWVFKRQUHL]YROO]XVHKHQZLHMHPDQG GDQQ OJW 8QG ZDV GLFK EHWULIIW *DQMD VR EUDXFKVW GX GLFK YRU GHP /JHQ QLFKW EHVRQGHUV ]X IUFKWHQ GD GHLQH VFKOHFKWHVWH +DQGOXQJ VRZLHVR VFKRQ DOOHQ EHNDQQW LVW 8QG GHQNHQ 6LH QXU PHLQH +HUUVFKDIWHQ© ULHI )HUG\VFKWVFKHQNR JDQ] HQWKXVLDVWLVFK ªGHQNHQ 6LH QXU PLW ZDV IU $XJHQ ZLU QDFKKHUHLQDQGHUDQVHKHQZHUGHQ]XP%HLVSLHOPRUJHQQDFK GLHVHQ (U]lKOXQJHQ© ª$EHU LVW¶V P|JOLFK" 6ROO GHQQ GDV ZLUNOLFK (UQVW VHLQ 1DVWDVMD )LOLSSRZQD"© IUDJWH 7R]NLM ZUGHYROOª:HUVLFKYRUGHP:ROIIUFKWHWVROOQLFKWLQGHQ :DOG JHKHQ© YHUVHW]WH 1DVWDVMD )LOLSSRZQD OlFKHOQG ª$EHU HUODXEHQ 6LH +HUU )HUG\VFKWVFKHQNR ZLH NDQQ PDQ GHQQ GDUDXVHLQ*HVHOOVFKDIWVVSLHOPDFKHQ"©IXKU7R]NLMGHULPPHU XQUXKLJHUZXUGHIRUWª,FKYHUVLFKHUH,KQHQGDVROFKH'LQJH QLH JHOLQJHQ 6LH VDJHQ MD VHOEVW GD HV VFKRQ HLQPDO PLJOFNW LVW© ª:LHVR PLJOFNW" ,FK KDEH GDV YRULJH 0DO HU]lKOW ZLH LFK GUHL 5XEHO JHVWRKOHQ KDEH GDV KDEH LFK JDQ] HLQIDFK XQG RKQH ZHLWHUHV HU]lKOW© ª:HQQ DXFK $EHU 6LH NRQQWHQHVGRFKXQP|JOLFKVRHU]lKOHQGDHVZDKUVFKHLQOLFK NODQJXQGPDQHV,KQHQJODXEWH8QG*DZULOD$UGDOLRQRZLWVFK
KDW JDQ] ULFKWLJ EHPHUNW GD GDV 6SLHO MHGHQ 6LQQ YHUOLHUW VREDOG PDQ GHU (U]lKOXQJ DQ]XPHUNHQ JODXEW GD VLH QLFKW ZDKU LVW 'LH :DKUKHLW ZLUG GDEHL QXU GDQQ JHVDJW ZHUGHQ ZHQQ VLFK MHPDQG ]XIlOOLJ LQ HLQHU HLJHQDUWLJHQ XQIHLQHQ SUDKOHULVFKHQ 6WLPPXQJ EHILQGHW HLQHU 6WLPPXQJ GLH KLHU XQGHQNEDULVWXQGGXUFKDXVXQSDVVHQGVHLQZUGH©ª$EHUZDV VLQG 6LH IU HLQ IHLQIKOLJHU 0HQVFK $IDQDVVLM ,ZDQRZLWVFK 6LH VHW]HQ PLFK JHUDGH]X LQ (UVWDXQHQ© OLHI )HUG\VFKWVFKHQNR ª'HQNHQ 6LH QXU PHLQH +HUUVFKDIWHQ GXUFKVHLQH%HPHUNXQJLFKKlWWHYRQPHLQHP'LHEVWDKOQLFKW VR HU]lKOHQ N|QQHQ GD HV JODXEKDIW JHNOXQJHQ KDEH GHXWHW $IDQDVVLM ,ZDQRZLWVFKDXIGLHIHLQVWH:HLVHDQ GD LFK DXFK WDWVlFKOLFK QLFKW LPVWDQGH JHZHVHQ VHL GHQ 'LHEVWDKO DXV]XIKUHQ GHQQ GDV VR JHUDGHKHUDXV ]X VDJHQ ZlUH XQSDVVHQG REZRKO HU YLHOOHLFKW LP VWLOOHQ JDQ] GDYRQ EHU]HXJW LVW GD )HUG\VFKWVFKHQNR HV VHKU ZRKO KDEH IHUWLJEULQJHQ N|QQHQ ]X VWHKOHQ $EHU ]XU 6DFKH PHLQH +HUUHQ]XU6DFKHGLH/RVHVLQGHLQJHVDPPHOWXQGDXFK6LH $IDQDVVLM ,ZDQRZLWVFK KDEHQ GDV ,KULJH KLQHLQJHOHJW DOVR VFKOLHW VLFK QLHPDQG DXV 1XQ QHKPHQ 6LH GLH =LHKXQJ YRU )UVW© 'HU)UVWIXKUVFKZHLJHQGPLWGHU+DQGLQGHQ+XWXQG]RJ GLH/RVHKHUDXVDOVHUVWHVGDV)HUG\VFKWVFKHQNRVDOV]ZHLWHV GDV 3WL]\QV DOV GULWWHV GDV GHV *HQHUDOV DOV YLHUWHV GDV $IDQDVVLM ,ZDQRZLWVFKV DOV IQIWHV GDV VHLQLJH DOV VHFKVWHV GDV *DQMDV XQG VR ZHLWHU 'LH 'DPHQ KDWWHQ NHLQH /RVH KLQHLQJHOHJW ª2 *RWW ZHOFKHV 8QJOFN© ULHI )HUG\VFKWVFKHQNR ª8QG LFK KDWWH JHGDFKW ]XHUVW ZUGH GHU )UVWGUDQNRPPHQXQGGDQQGHU*HQHUDO$EHU*RWWVHL'DQN ZHQLJVWHQV NRPPW ,ZDQ 3HWURZLWVFK QDFK PLU GD ZHUGH LFK IU PHLQH 2IIHQKHU]LJNHLW HQWVFKlGLJW ZHUGHQ 1XQ PHLQH +HUUHQ LFK ELQ QDWUOLFK YHUSIOLFKWHW HLQ JXWHV %HLVSLHO ]X JHEHQDEHUDPPHLVWHQEHGDXUHLFKLQGLHVHP$XJHQEOLFNGD LFK HLQ VR XQEHGHXWHQGHU 0HQVFK ELQ XQG QLFKWV
%HPHUNHQVZHUWHV DQ PLU KDEH VHOEVW PHLQH GLHQVWOLFKH 5DQJVWHOOXQJLVWHLQHJDQ]QLHGULJHZDVIUHLQ,QWHUHVVHNDQQ HV GHQQ HUZHFNHQ GD )HUG\VFKWVFKHQNR HLQH KlOLFKH +DQGOXQJ EHJDQJHQ KDW" 8QG ZHOFKHV LVW GHQQ PHLQH VFKOHFKWHVWH+DQGOXQJ"'DOLHJWHLQHPEDUUDVGHULFKHVVH YRU 6ROO LFK HWZD ZLHGHU YRQ GHPVHOEHQ 'LHEVWDKO HU]lKOHQ XP $IDQDVVLM,ZDQRZLWVFKGDYRQ]XEHU]HXJHQGDPDQVWHKOHQ NDQQ RKQH HLJHQWOLFK HLQ 'LHE ]X VHLQ" © ª6LH EHU]HXJHQ PLFKDXFKGDYRQ+HUU)HUG\VFKWVFKHQNRGDPDQWDWVlFKOLFK HLQ ELV ]XU %HUDXVFKWKHLW JHKHQGHV 9HUJQJHQ HPSILQGHQ NDQQ ZHQQ PDQ YRQ VHLQHQ XQVDXEHUHQ +DQGOXQJHQ HU]lKOW REZRKO PDQ QLFKW GDQDFK JHIUDJW LVW hEULJHQV DEHU 9HU]HLKHQ 6LH +HUU )HUG\VFKWVFKHQNR © ª)DQJHQ 6LH DQ )HUG\VFKWVFKHQNR 6LH VFKZDW]HQ VFKUHFNOLFK YLHO XQQW]HV =HXJ XQG ZHUGHQ QLH ]X (QGH NRPPHQ© EHIDKO 1DVWDVMD )LOLSSRZQDJHUHL]WXQGXQJHGXOGLJ $OOHEHPHUNWHQGDVLHQDFKLKUHPDQIDOODUWLJHQ/DFKHQYRQ YRUKLQ SO|W]OLFK JHUDGH]X GVWHU PUULVFK XQG UHL]EDU JHZRUGHQZDUDEHUQLFKWVGHVWRZHQLJHUEHVWDQGVLHKDUWQlFNLJ XQG GHVSRWLVFK GDUDXI GD LKUHU DEVXUGHQ /DXQH JHKRUFKW ZHUGH $IDQDVVLM ,ZDQRZLWVFK OLWW IXUFKWEDUH 4XDOHQ (U ZDU DXFK DXI ,ZDQ )MRGRURZLWVFK ZWHQG GHU DOV ZlUH QLFKWV JHVFKHKHQ EHLP &KDPSDJQHU VD XQG YLHOOHLFKW VRJDU HWZDV ]XHU]lKOHQEHDEVLFKWLJWHZHQQHUDQGLH5HLKHNDP
IU] +LQGHUQLVLQIROJHJURHU$XVZDKO
;,9 ª,FK ELQ HEHQ QLFKW JHLVWUHLFK 1DVWDVMD )LOLSSRZQD GDKHU VFKZDW]H LFK XQQW]HV =HXJ© ULHI )HUG\VFKWVFKHQNR XQG VFKLFNWH VLFK DQ ]X HU]lKOHQ ª:lUH LFK VR JHLVWUHLFK ZLH $IDQDVVLM ,ZDQRZLWVFK RGHU ,ZDQ 3HWURZLWVFK VR ZUGH LFK KHXWHZLHGLHVHEHLGHQ+HUUHQVFKZHLJHQGGDVLW]HQ*HVWDWWHQ 6LH HLQH )UDJH )UVW ZLH GHQNHQ 6LH GDUEHU" ,FK ELQ GHU 0HLQXQJGDHVDXIGHU:HOWZHLWPHKU'LHEHJLEWDOV/HXWH GLH NHLQH 'LHEH VLQG XQG GD HV NHLQHQ VR HKUHQKDIWHQ 0HQVFKHQ JLEW GHU QLFKW ZHQLJVWHQV HLQPDO LQ VHLQHP /HEHQ HWZDV JHVWRKOHQKlWWH 'DVLVWPHLQH$QVFKDXXQJDXVGHULFK EULJHQV NHLQHVZHJV GHQ 6FKOX ]LHKH GD DOOH RKQH $XVQDKPH 'LHEH VLQG REZRKO LFK ZLUNOLFK PDQFKPDO GLH JU|WH /XVW KlWWH GDV GDUDXV ]X IROJHUQ :LH GHQNHQ 6LH GDUEHU"©ª3IXLZLHGXPP6LHUHGHQ©ULHI'DUMD$OH[HMHZQD ªXQG ZDV LVW GDV IU 8QVLQQ (V LVW XQGHQNEDU GD DOOH 0HQVFKHQ HWZDV JHVWRKOHQ KDEHQ VROOWHQ LFK KDEH QLH HWZDV JHVWRKOHQ©ª6LHKDEHQQLHHWZDVJHVWRKOHQ'DUMD$OH[HMHZQD DEHU ZDV ZLUG GHU )UVW VDJHQ GHU DXI HLQPDO JDQ] URW JHZRUGHQLVW"©ª(VVFKHLQWPLUGD6LHUHFKWKDEHQDEHUVWDUN EHUWUHLEHQ©YHUVHW]WHGHU)UVWGHUWDWVlFKOLFKDXVQLFKWUHFKW HUVLFKWOLFKHP *UXQGH HUU|WHW ZDU ª8QG 6LH VHOEVW )UVW KDEHQ QLFKWV JHVWRKOHQ"© ª3IXL ZLH OlFKHUOLFK GDV DOOHV LVW %HGHQNHQ 6LH +HUU )HUG\VFKWVFKHQNR ZDV 6LH GD UHGHQ© PLVFKWH VLFK GHU *HQHUDO HLQ ª'LH 6DFKH LVW HLQIDFK GLH QXQ HVVRZHLWLVWVFKlPHQ6LHVLFK]XHU]lKOHQXQGGDUXPZROOHQ 6LHGHQ)UVWHQPLWVLFK]XVDPPHQNXSSHOQXPVRPHKUDOVHU VR GLHQVWIHUWLJ LVW© VFKDOW 'DUMD $OH[HMHZQD ª)HUG\VFKWVFKHQNR HQWZHGHU HU]lKOHQ 6LH RGHU VFKZHLJHQ 6LH XQG EHVFKUlQNHQ 6LH ,KUH 0HQVFKHQNHQQWQLV DXI ,KUH HLJHQH 3HUVRQ 6LH HUVFK|SIHQ GLH JU|WH *HGXOG© VDJWH 1DVWDVMD )LOLSSRZQD LQ VFKDUIHP lUJHUOLFKHP 7RQ ª6RIRUW 1DVWDVMD )LOLSSRZQD :HQQ VRJDU GHU )UVW HV HLQJHVWDQGHQ
KDW GHQQ LFK EOHLEH GDEHL GHU )UVW KDW HV VR JXW ZLH HLQJHVWDQGHQ ZDV ZUGH GDQQ HUVW HLQ DQGHUHU LFK QHQQH NHLQHQ 1DPHQ VDJHQ YRUDXVJHVHW]W GD HU GLH :DKUKHLW UHGHQZLOO":DVQXQPLFKEHWULIIWVRKDEHLFKHLJHQWOLFKQLFKW ZHLWHU]XHU]lKOHQGLH6DFKHLVWVHKUHLQIDFKVHKUGXPPXQG VHKU KlOLFK $EHU LFK JHEH ,KQHQ GLH 9HUVLFKHUXQJ GD LFK NHLQ 'LHE ELQ LFK KDEH JHVWRKOHQ RKQH ]X ZLVVHQ ZLH LFK GD]X JHNRPPHQ ELQ (V ZDU YRU ]ZHL -DKUHQ LQ GHU 6RPPHUIULVFKH EHL 6HPMRQ ,ZDQRZLWVFK ,VFKWVGEHQNR DQ HLQHP 6RQQWDJ (V ZDUHQ EHL LKP *lVWH ]XP 0LWWDJHVVHQ 1DFK 7LVFK EOLHEHQ GLH +HUUHQ EHLP :HLQ ]XVDPPHQ VLW]HQ 'D NDP PLU GHU *HGDQNH VHLQ 7|FKWHUFKHQ )UlXOHLQ 0DUMD 6HPMRQRZQD]XELWWHQREVLHXQVQLFKWHWZDVDXIGHP.ODYLHU YRUVSLHOHQZROOH,FKJHKHGXUFKHLQ(FN]LPPHUXQGGDOLHJW DXI0DUMD,ZDQRZQDV1lKWLVFKHLQJUQHU'UHLUXEHOVFKHLQVLH KDWWH LKQ KHUDXVJHOHJW XP LKQ ]X LUJHQGHLQHP =ZHFN LQ GHU :LUWVFKDIW DXV]XJHEHQ ,P =LPPHU ZDU NHLQ 0HQVFK ,FK QDKPGHQ6FKHLQXQGVWHFNWHLKQLQGLH7DVFKHZDUXPLFKGDV WDW ZHL LFK QLFKW (V LVW PLU XQYHUVWlQGOLFK ZDV EHU PLFK JHNRPPHQZDU$EHULFKNHKUWHVRVFKQHOOZLHP|JOLFK]XUFN XQGVHW]WHPLFKZLHGHUDQGHQ7LVFK ,FKVDQXQLQ]LHPOLFK VWDUNHU $XIUHJXQJ GD XQG ZDUWHWH VFKZDW]WH RKQH 8QWHUOD HU]lKOWH $QHNGRWHQ XQG ODFKWH GDQQ VHW]WH LFK PLFK ]X GHQ 'DPHQ 1DFK HWZD HLQHU KDOEHQ 6WXQGH ZXUGH GLH %DQNQRWH YHUPLW XQG PDQ EHJDQQ GLH 'LHQVWPlGFKHQ GDQDFK ]X IUDJHQ 'HU 9HUGDFKW ILHO DXI HLQH YRQ LKQHQ 'DUMD ,FK EHNXQGHWH HLQ OHEKDIWHV ,QWHUHVVH XQG VWDUNH 7HLOQDKPH XQG LFK ZHL QRFK DOV 'DUMD JDQ] IDVVXQJVORV ZDU GD UHGHWH LFK LKU VRJDU ]X VLH P|FKWH LKUH 6FKXOG HLQJHVWHKHQ LQGHP LFK PLFK LKU JHJHQEHU PLW PHLQHP .RSI IU 0DUMD ,ZDQRZQDV JWLJH 1DFKVLFKW YHUEUJWH XQG GDV DOOHV VDJWH LFK ODXW YRU DOOHU 2KUHQ $OOH ZRKQWHQ GLHVHU 6]HQH EHL XQG LFK HPSIDQG HLQ EHVRQGHUHV 9HUJQJHQ EHL GHP *HGDQNHQ GD LFK GD 0RUDO SUHGLJWH XQG GLH %DQNQRWH LQ PHLQHU 7DVFKH VWHFNWH
'LHVH GUHL 5XEHO YHUWUDQN LFK JOHLFK DP VHOEHQ $EHQG LQ HLQHP 5HVWDXUDQW ,FK JLQJ KLQHLQ XQG OLH PLU HLQH )ODVFKH /DILWWH JHEHQ LFK KDWWH YRUKHU QLH VR EOR HLQH )ODVFKH :HLQ JHWUXQNHQ RKQH HWZDV GD]X ]X HVVHQ HV ODJ PLU GDUDQ GDV *HOG P|JOLFKVW VFKQHOO DXV]XJHEHQ %HVRQGHUH *HZLVVHQVELVVH KDEH LFK ZHGHU GDPDOV QRFK VSlWHU YHUVSUW (LQ ]ZHLWHV 0DO ZUGH LFK GDV DOOHU :DKUVFKHLQOLFKNHLW QDFK QLFKWZLHGHUWXQ6LHN|QQHQPLUGDVJODXEHQRGHUQLFKWJDQ] ZLH 6LH ZROOHQ LFK KDEH NHLQ ,QWHUHVVH GDUDQ 1D GDV LVW GLH JDQ]H *HVFKLFKWH© ª$EHU GDV LVW JHZL QRFK QLFKW ,KUH VFKOHFKWHVWH +DQGOXQJ© VDJWH 'DUMD $OH[HMHZQD YROO $EVFKHX ª'DVLVWHLQHVHHOLVFKH9HULUUXQJNHLQH+DQGOXQJ© EHPHUNWH $IDQDVVLM ,ZDQRZLWVFK ª8QG ZDV JHVFKDK PLW GHP 'LHQVWPlGFKHQ"© IUDJWH 1DVWDVMD )LOLSSRZQD RKQH LKUHQ KRFKJUDGLJHQ (NHO ]X YHUEHUJHQ ª'DV 'LHQVWPlGFKHQ ZXUGH QDWUOLFK JOHLFK DP DQGHUQ 7DJ ZHJJHMDJW ,Q MHQHP +DXVH ZXUGH VWUHQJ DXI 2UGQXQJ JHKDOWHQ© ª8QG 6LH KDEHQ GDV ]XJHODVVHQ"© ª1D GDV LVW QHWW ,FK KlWWH ZRKO KLQJHKHQ XQG PLFK DQJHEHQ VROOHQ"© NLFKHUWH )HUG\VFKWVFKHQNR GHU EULJHQV GXUFK GHQ VHKU XQDQJHQHKPHQ (LQGUXFN GHQ VHLQH (U]lKOXQJ EHL DOOHQ KHUYRUJHUXIHQ KDWWH HLQLJHUPDHQ EHUUDVFKW ZDU ª:LH VFKPXW]LJ GDV LVW© ULHI 1DVWDVMD )LOLSSRZQD ª3DK 6LH ZROOHQ YRQ MHPDQG VHLQH KlOLFKVWH +DQGOXQJK|UHQXQGYHUODQJHQGDEHLGDVLH UHLQ XQG VDXEHU VHLQ VROO 'LH KlOLFKHQ +DQGOXQJHQ VLQG LPPHU VHKU VFKPXW]LJ 1DVWDVMD )LOLSSRZQD GDV ZHUGHQ ZLU VRIRUW YRQ ,ZDQ3HWURZLWVFKK|UHQ9LHOHVROFKHU+DQGOXQJHQJOlQ]HQMD IUHLOLFK QDFK DXHQ XQG P|FKWHQ DOV 7XJHQG HUVFKHLQHQ ZHLO GHU %HWUHIIHQGH HLQH HLJHQH (TXLSDJH KDW *DU PDQFKHU KDW HLQHHLJHQH(TXLSDJHDEHUPLWZHOFKHQ0LWWHOQ© .XU] JHVDJW )HUG\VFKWVFKHQNR YHUPRFKWH VLFK QLFKW ]X EHKHUUVFKHQXQGZXUGHSO|W]OLFKERVKDIWVRGDHUVLFKYHUJD XQG GDV 0D EHUVFKULWW VRJDU VHLQ *HVLFKW YHU]HUUWH VLFK JDQ] :LH VHOWVDP HV DXFK VFKHLQHQ PDJ VR PRFKWH HU GRFK
HLQH JDQ] DQGHUH :LUNXQJ YRQ VHLQHU (U]lKOXQJ HUZDUWHW KDEHQ 6ROFKH ª9HUVW|H© JHJHQ GHQ JXWHQ 7RQ XQG VROFKH ªHLJHQDUWLJH3UDKOVXFKW©ZLH7R]NLMGDVJHQDQQWKDWWHNDPHQ EHLLKPUHFKWRIWYRUXQGODJHQGXUFKDXVLQVHLQHP&KDUDNWHU 1DVWDVMD )LOLSSRZQD EHEWH RUGHQWOLFK YRU =RUQ XQG EOLFNWH )HUG\VFKWVFKHQNR XQYHUZDQGW DQ GLHVHU ZXUGH VRIRUW lQJVWOLFK XQG YHUVWXPPWH MD HV EHUOLHI LKQ JHUDGH]X HLQ NDOWHU 6FKDXHU HU PHUNWH GD HU ]X ZHLW JHJDQJHQ ZDU ª:ROOHQ ZLU QLFKW OLHEHU JDQ] GDPLW DXIK|UHQ"© IUDJWH $IDQDVVLM,ZDQRZLWVFKVFKODXª,FKELQDQGHU5HLKHDEHULFK PDFKH YRQ GHP 5HFKW DXI 'LVSHQVDWLRQ *HEUDXFK XQG ZHUGH QLFKW HU]lKOHQ© HUNOlUWH 3WL]\Q LQ HQWVFKLHGHQHP 7RQ ª6LH ZROOHQ QLFKW"© ª,FK NDQQ QLFKW 1DVWDVMD )LOLSSRZQD XQG LFK KDOWHEHUKDXSWHLQVROFKHV*HVHOOVFKDIWVVSLHOIUHLQ'LQJGHU 8QP|JOLFKNHLW© ª'DQQ NRPPHQ MD ZRKO 6LH GUDQ *HQHUDO© ZDQGWHVLFK1DVWDVMD)LOLSSRZQD DQGLHVHQ ª6ROOWHQDXFK6LH VLFK ZHLJHUQ GDQQ ZLUG DXFK DXV XQVHUHP JDQ]HQ ZHLWHUHQ 6SLHO QLFKWV ZHUGHQ XQG GDV ZUGH PLU OHLG WXQ GD LFK EHDEVLFKWLJH ]XP 6FKOX HWZDV DXV PHLQHP HLJHQHQ /HEHQ PLW]XWHLOHQHVDEHUHUVWQDFK,KQHQXQG$IDQDVVLM,ZDQRZLWVFK WXQ ZLOO ZHLO VLH EHLGH PLU 0XW PDFKHQ PVVHQ© VFKOR VLH ODFKHQG ª2K ZHQQ 6LH YHUVSUHFKHQ VLFK HEHQIDOOV ]X EHWHLOLJHQ©ULHIGHU*HQHUDOHLIULJªGDQQELQLFKEHUHLW,KQHQ PHLQHWZHJHQPHLQHJDQ]H/HEHQVJHVFKLFKWHYRU]XWUDJHQDEHU LFKPX EHNHQQHQ LFK KDEH LQ GHU (UZDUWXQJ GD LFK DQ GLH 5HLKH NRPPHQ ZUGH PLU EHUHLWV HLQ *HVFKLFKWFKHQ ]XUHFKWJHOHJW © ª6FKRQ DOOHLQ DXV GHU 0LHQH 6HLQHU ([]HOOHQ]NDQQPDQHQWQHKPHQPLWZHOFKHU$XWRUHQIUHXGHHU VHLQ*HVFKLFKWFKHQDXVJHDUEHLWHWKDW©HUODXEWHVLFKGHULPPHU QRFK HWZDV YHUOHJHQH )HUG\VFKWVFKHQNR PLW ERVKDIWHP /lFKHOQ]XEHPHUNHQ 1DVWDVMD )LOLSSRZQD ZDUI GHP *HQHUDO HLQHQ IOFKWLJHQ %OLFN ]X XQG OlFKHOWH HEHQIDOOV YRU VLFK KLQ $EHU HV ZDU GHXWOLFK GD LKUH 9HUVWLPPXQJ XQG *HUHL]WKHLW LPPHU PHKU
ZXFKV $IDQDVVLM ,ZDQRZLWVFK EHNDP HLQHQ JHZDOWLJHQ 6FKUHFN DOV HU VLH HLQH (U]lKOXQJ LQ $XVVLFKW VWHOOHQ K|UWH ª0HLQH+HUUVFKDIWHQZLHMHGHP0HQVFKHQLVWHVDXFKPLULQ PHLQHP /HEHQ YRUJHNRPPHQ GD LFK QLFKW VHKU O|EOLFKH +DQGOXQJHQ EHJDQJHQ KDEH© EHJDQQ GHU *HQHUDO ªVHOWVDPHUZHLVHDEHUKDOWHLFKVHOEVWGDVNXU]H*HVFKLFKWFKHQ GDVLFK,KQHQMHW]WHU]lKOHQZHUGHIUGLHKlOLFKVWH+DQGOXQJ PHLQHVJDQ]HQ/HEHQV'DEHLVLQGVHLWGHPIDVWIQIXQGGUHLLJ -DKUH YHUJDQJHQ DEHU LFK KDEH PLFK VRRIW LFK GDUDQ GHQNH QLH YRQ HLQHU JHZLVVHQ VR]XVDJHQ EHLHQGHQ (PSILQGXQJ LP +HU]HQ IUHLPDFKHQ N|QQHQ 'LH 6DFKH ZDU EULJHQV LP K|FKVWHQ *UDGH GXPP LFK ZDU GDPDOV HEHQ HUVW )lKQULFK JHZRUGHQXQGKDWWHHLQHQVFKZHUHQ'LHQVW1DQXQZHLPDQ MD VR HLQ )lKQULFK KDW KHLHV %OXW XQG ZHQLJ 0RQHWHQ ,FK KDWWH GDPDOV HLQHQ %XUVFKHQ 1LNLIRU KLH HU GHU VHKU HLIULJ IUPHLQH:LUWVFKDIWVRUJWH HUKLHOWGLH*URVFKHQ]XVDPPHQ QlKWH VWULHJHOWH SXW]WH XQG VWDKO VRJDU YRQ EHUDOOKHU ]XVDPPHQ ZDV HU NULHJHQ NRQQWH XP PHLQHQ +DXVKDOW EHU :DVVHU]XKDOWHQHU ZDU GHU WUHXHVWH UHGOLFKVWH 0HQVFK GHQ PDQVLFKQXUGHQNHQNDQQ,FKZDUJHJHQLKQQDWUOLFKVWUHQJ DEHU JHUHFKW (V WUDI VLFK GD ZLU HLQH =HLWODQJ LQ HLQHP NOHLQHQ6WlGWFKHQLQ*DUQLVRQODJHQXQGLFKPHLQ4XDUWLHULQ HLQHU9RUVWDGWEHLGHU:LWZHHLQHVYHUDEVFKLHGHWHQ /HXWQDQWV KDWWHHLQHUDOWHQ)UDXYRQDFKW]LJ-DKUHQRGHUZHQLJVWHQVZDU VLHQDKHGDUDQ6LHKDWWHHLQHOHQGHVEDXIlOOLJHV+RO]KlXVFKHQ XQG NRQQWH VLFK EHL LKUHU $UPXW QLFKW HLQPDO %HGLHQXQJ KDOWHQ %HVRQGHUV PHUNZUGLJ ZDU DQ LKU GD VLH IUKHU HLQPDO HLQH JURH )DPLOLH XQG ]DKOUHLFKH 9HUZDQGWH JHKDEW KDWWH DEHU GLH HLQHQ ZDUHQ LP /DXIH LKUHV ODQJHQ /HEHQV JHVWRUEHQ DQGHUH ZHJJH]RJHQ ZLHGHU DQGHUH KDWWHQ GLH DOWH )UDX YHUJHVVHQ XQG LKUHQ 0DQQ KDWWH VLH YRU HWZD IQIXQGYLHU]LJ -DKUHQ EHJUDEHQ (LQLJH -DKUH YRUKHU HKH LFK GRUW LQ 4XDUWLHU ODJ KDWWH QRFK HLQH 1LFKWH EHL LKU JHZRKQW HLQHEXFNHOLJH3HUVRQZLHLFKK|UWHXQGE|VHZLHHLQH+H[H
VR GD VLH VRJDU HLQPDO GLH DOWH )UDX LQ GHQ )LQJHU JHELVVHQ KDWWH DEHU DXFK GLH ZDU JHVWRUEHQ XQG QXQ VWDQG GLH $OWH VFKRQ GUHL -DKUH ODQJ PXWWHUVHHOHQDOOHLQ LQ GHU :HOW ,FK ODQJZHLOWHPLFKEHLLKUVFKUHFNOLFKGHQQVLHZDUVRHLQIl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¾:LU KlWWHQ XQVHUH 7HUULQH QLFKW EHL GHU IUKHUHQ :LUWLQ ]XUFNODVVHQ VROOHQ (XHU :RKOJHERUHQ LFK ZHL MHW]W QLFKW ZRULQ LFK GLH 6XSSH DXIWUDJHQ VROO½ ,FK ZDU QDWUOLFK K|FKVW YHUZXQGHUW ¾:LH JHKW GDV ]X" :LH LVW GDV JHNRPPHQ GD XQVHUH 7HUULQH EHL GHU :LUWLQ JHEOLHEHQ LVW"½ (UVWDXQWEHULFKWHWHPLU1LNLIRUZHLWHUGLH:LUWLQKDEHLKPEHL XQVHUHP $XV]XJ XQVHUH 7HUULQH QLFKW KHUDXVJHJHEHQ PLW GHU %HJUQGXQJ VLH ZROOH GD LFK LKU LKUHQ HLJHQHQ 7RSI ]HUEURFKHQ KlWWH QXQ IU LKUHQ 7RSI XQVHUH 7HUULQH EHKDOWHQ XQG LFK KlWWH LKU GDV VHOEVW YRUJHVFKODJHQ hEHU HLQH VROFKH *HPHLQKHLWYRQLKUHU6HLWH JHULHWLFKQDWUOLFK DXHU PLU GDV )lKQULFKVEOXW NDP LQ :DOOXQJ LFK VSUDQJ DXI XQG OLHI ]X LKU KLQ $OV LFK ]X GHU $OWHQ KLQNDP NRFKWH LFK VR]XVDJHQ YRU :XW LFK VHKH PLFK XP XQG GD VLW]W VLH JDQ] DOOHLQ DXI GHP )OXU LQ HLQHU (FNH DOV RE VLH VLFK YRU GHU 6RQQH YHUVWHFNW KlWWHGLHHLQH:DQJHDXIGLH+DQGJHVWW]W1XQZLVVHQ6LH GD OLH LFK GHQQ JOHLFK HLQHQ JDQ]HQ +DJHO YRQ 6FKHOWZRUWHQ DXIVLHQLHGHUSUDVVHOQ¾'XELVWMD½VDJWHLFK¾HLQH½XQGVR
ZHLWHUXQGVRZHLWHUZLVVHQ6LHVRLQHFKWUXVVLVFKHU$UW:LH LFKVLHDEHUVRDQEOLFNHNRPPWHVPLUVRQGHUEDUYRUVLHVLW]W GDGDV*HVLFKWPLU]XJHZHQGHWGLH$XJHQZHLWJH|IIQHWXQG DQWZRUWHW NHLQ :RUW XQG VLHKW VR VRQGHUEDU JDQ] VRQGHUEDU DXV XQG QLFNW ZLH HV VFKHLQW PLW GHP .RSIH ,FK VFKZHLJH VFKOLHOLFK VWLOO VHKH VLH DQ IUDJH VLH EHNRPPH DEHU NHLQH $QWZRUW ,FK VWDQG QRFK HLQ :HLOFKHQ XQVFKOVVLJ GD GLH )OLHJHQVXPPWHQGLH 6RQQH ZDU LP 8QWHUJHKHQ HV KHUUVFKWH WLHIH 6WLOOH JDQ] YHUZLUUW JLQJ LFK HQGOLFK IRUW ,FK ZDU QRFK QLFKW QDFK +DXVH JHODQJW GD ZXUGH LFK ]XP 0DMRU EHIRKOHQ GDQQPXWHLFK]XU.RPSDQLH JHKHQ VR GD LFK HUVW VSlW DP $EHQGQDFK+DXVH]XUFNNHKUWH'DVHUVWHZDV1LNLIRU]XPLU VDJWHZDU¾:LVVHQ6LHVFKRQ(XHU:RKOJHERUHQGDXQVHUH IUKHUH:LUWLQLVWJHVWRUEHQ½±¾:DQQGHQQ"½±¾+HXWHDEHQG VR YRU DQGHUWKDOE 6WXQGHQ½ $OVR ZDU VLH JHUDGH ]X GHU =HLW YHUVFKLHGHQ DOV LFK VLH DXVVFKLPSIWH 'DV PDFKWH HLQHQ VROFKHQ (LQGUXFN DXI PLFK NDQQ LFK ,KQHQ VDJHQ GD LFK NDXP PHLQHU 6LQQH PlFKWLJ ZDU :LVVHQ 6LH LFK PXWH IRUWZlKUHQG GDUDQ GHQNHQ VHOEVW LQ GHU 1DFKW WUlXPWH LFK GDYRQ,FKELQMDZDKUKDIWLJQLFKWDEHUJOlXELVFKDEHULFKJLQJ GRFKDPGULWWHQ7DJLQGLH.LUFKH]XLKUHU %HHUGLJXQJ.XU] MHZHLWHUGLHVHV(UHLJQLVLQGLH9HUJDQJHQKHLW]XUFNUFNWXP VR PHKU PX LFK GDUDQ GHQNHQ 8QG PDQFKPDO ZHQQ LFK HV PLU VR YHUJHJHQZlUWLJH ZLUG PLU JDQ] XQZRKO 'HU +DXSWSXQNWLVWZDVODJGDYRUQDFKGHU $UW ZLH LFK PLU GLH 6DFKH VFKOLHOLFK ]XUHFKWOHJWH" (UVWHQV HV ZDU HLQH )UDX VR]XVDJHQ HLQ PHQVFKOLFKHV :HVHQ XQG PDQ UHGHW MD LQ XQVHUHU =HLW VRYLHO YRQ +XPDQLWlW VLH KDWWH ODQJH VHKU ODQJH JHOHEWVFKOLHOLFKZDUVLHPGHXQGPDWWJHZRUGHQ6LHKDWWH IUKHU HLQPDO .LQGHU HLQHQ 0DQQ HLQH )DPLOLH 9HUZDQGWH JHKDEWDOOHVKDWWHVR]XVDJHQXPVLHJHZLPPHOWDOOHKDWWHQVLH VR]XVDJHQ DQJHOlFKHOW ± XQG DXI HLQPDO HLQH Y|OOLJH /HHUH DOOHVLQGLHYLHU:LQGH]HUVWREHQXQGVLHZDUDOOHLQJHEOLHEHQ ZLH ZLH HLQH YRQ (ZLJNHLW KHU YHUIOXFKWH )OLHJH 8QG QXQ
HQGOLFKVHW]W*RWWLKUHP/HEHQHLQ(QGH 0LW GHP 8QWHUJDQJ GHU 6RQQH DQ HLQHP VWLOOHQ 6RPPHUDEHQG JHKW DXFK PHLQH $OWHGDKLQJHZLQLFKWRKQHHUEDXOLFKH*HGDQNHQXQGJHUDGH LQGLHVHP$XJHQEOLFNVWHOOWHLQMXQJHUKLW]LJHU)lKQULFKVWDWW LKUVR]XVDJHQPLWHLQHU7UlQHGDV*HOHLW]XJHEHQVLFKVFKUlJ YRUVLHKLQVWHPPWGLH$UPHLQGLH6HLWHQXQGEHUVFKWWHWVLH EHL LKUHP 'DKLQVFKHLGHQ ZHJHQ HLQHU LKP JHQRPPHQHQ 7HUULQH PLW HLQHU )OXW GHU GHUEVWHQ UXVVLVFKHQ 6FKLPSIZRUWH 2KQH=ZHLIHOKDEHLFKPLFKGDVFKXOGLJJHPDFKWXQGREZRKO LFK MHW]W VRODQJH QDFKKHU LQIROJH GHU YLHOHQ VHLWGHP YHUJDQJHQHQ -DKUH XQG GHU LQ PHLQHP &KDUDNWHU YRUJHJDQJHQHQ 9HUlQGHUXQJHQ MHQH +DQGOXQJ ZLH GLH HLQHV )UHPGHQ EHWUDFKWH VR WXW HV PLU GRFK LPPHU QRFK OHLG 'DV NRPPWPLU±LFKZLHGHUKROHHV±VRJDUVHOWVDPYRUGHQQZHQQ LFK DXFK VFKXOGLJ ELQ VR LVW GRFK PHLQH 6FKXOG QLFKW EHUJURZDUXPPXWHHVLKUDXFKJHUDGHLQGHP$XJHQEOLFN LQGHQ6LQQNRPPHQ]XVWHUEHQ"6HOEVWYHUVWlQGOLFKJLEWHVQXU HLQH (QWVFKXOGLJXQJ PHLQH +DQGOXQJ ZDU YRP SV\FKRORJLVFKHQ 6WDQGSXQNW DXV HUNOlUOLFK DEHU GRFK NRQQWH LFK PLFK QLFKW HKHU EHUXKLJHQ DOV ELV LFK YRU HWZD IQI]HKQ -DKUHQ GLH (LQULFKWXQJ WUDI GD VWlQGLJ ]ZHL NUDQNH DOWH )UDXHQDXIPHLQH.RVWHQLP$UPHQKDXVXQWHUKDOWHQXQGLKQHQ VR GXUFK DQVWlQGLJH 9HUSIOHJXQJ LKUH OHW]WHQ 7DJH DXI GLHVHU (UGH IUHXQGOLFKHU JHVWDOWHW ZHUGHQ VROOWHQ 8QG LFK JHGHQNH GLHVH (LQULFKWXQJ GXUFK 6WLIWXQJ HLQHV .DSLWDOV ]X HLQHU GDXHUQGHQ]XPDFKHQ1XQDOVRGDVLVWDOOHV ,FKZLHGHUKROH GD LFK YLHOOHLFKW VRQVW QRFK YLHO hEOHV LQ PHLQHP /HEHQ EHJDQJHQ KDEH DEHU GLHVH +DQGOXQJ KDOWH LFK ZLH LFK DXI PHLQ *HZLVVHQ YHUVLFKHUH IU GLH KlOLFKVWH PHLQHV JDQ]HQ /HEHQV©ª8QGVWDWWGHUKlOLFKVWHQKDEHQ(XHU([]HOOHQ]HLQH GHU EHVWHQ +DQGOXQJHQ ,KUHV /HEHQV HU]lKOW 6LH KDEHQ )HUG\VFKWVFKHQNR JHSUHOOW© EHPHUNWH )HUG\VFKWVFKHQNR ª:LUNOLFK *HQHUDO LFK KlWWH QLFKW JHGDFKW GD 6LH HLQ VR JXWHV +HU] KlWWHQ HV LVW RUGHQWOLFK VFKDGH© VDJWH 1DVWDVMD
)LOLSSRZQD LQ OlVVLJHP 7RQ ª6FKDGH" :LHVR"© IUDJWH GHU *HQHUDO PLW IUHXQGOLFKHP /DFKHQ XQG WUDQN QLFKW RKQH 6HOEVWJHIlOOLJNHLWYRQVHLQHP&KDPSDJQHU $EHUQXQZDUGLH5HLKHDQ$IDQDVVLM ,ZDQRZLWVFKGHU VLFK HEHQIDOOVYRUEHUHLWHWKDWWH$OOHVDKHQYRUDXVGDHUVLFKQLFKW ZLH,ZDQ3HWURZLWVFKZHLJHUQZUGHHUZDUWHWHQDXVJHZLVVHQ *UQGHQVHLQH(U]lKOXQJPLWEHVRQGHUHU1HXJLHUXQGEOLFNWHQ ]XJOHLFK 1DVWDVMD )LOLSSRZQD IRUVFKHQG DQ ,Q HLQHU VHKU ZUGHYROOHQ:HLVHGLHGXUFKDXV]XVHLQHPVWDWWOLFKHQbXHUQ SDWH EHJDQQ $IDQDVVLM ,ZDQRZLWVFK PLW OHLVHU IUHXQGOLFKHU 6WLPPH HLQHV VHLQHU ªQHWWHQ *HVFKLFKWFKHQ© %HLOlXILJ VHL IROJHQGHV EHPHUNW HU ZDU HLQH DQVHKQOLFKH (UVFKHLQXQJ VWDWWOLFK KRFKJHZDFKVHQ HWZDV NDKON|SILJ PLW OHLFKW DQJHJUDXWHP +DDU ]LHPOLFK ZRKOEHOHLEW PLW ZHLFKHQ URWHQ HWZDV KHUDEKlQJHQGHQ %DFNHQ XQG IDOVFKHQ =lKQHQ (U WUXJ EHTXHPH HOHJDQWH .OHLGHU XQG ZXQGHUYROOH :lVFKH 6HLQH IOHLVFKLJHQ ZHLHQ +lQGH DQ]XVHKHQ ZDU HLQ *HQX $P =HLJHILQJHU GHU UHFKWHQ +DQG VWHFNWH HLQ NRVWEDUHU %ULOODQWULQJ 1DVWDVMD )LOLSSRZQD EHWUDFKWHWH ZlKUHQG VHLQHU JDQ]HQ (U]lKOXQJ XQYHUZDQGW GHQ 6SLW]HQEHVDW] DQ LKUHP bUPHOXQG]XSIWHGDUDQPLW]ZHL)LQJHUQGHUOLQNHQ+DQGVR GD VLH GHQ (U]lKOHU DXFK QLFKW HLQHQ $XJHQEOLFN DQEOLFNWH ª:DV PLU PHLQH $XIJDEH DP PHLVWHQ HUOHLFKWHUW© EHJDQQ $IDQDVVLM,ZDQRZLWVFKªGDVLVWGLHXQEHGLQJWH9HUSIOLFKWXQJ QLFKWV DQGHUHV ]X HU]lKOHQ DOV GLH VFKOHFKWHVWH +DQGOXQJ PHLQHV JDQ]HQ /HEHQV ,Q HLQHP VROFKHQ )DOOH LVW VHOEVWYHUVWlQGOLFKNHLQ6FKZDQNHQP|JOLFKGDV*HZLVVHQXQG GDV *HGlFKWQLV JHEHQ HLQHP RKQH ZHLWHUHV HLQ ZDV PDQ ]X HU]lKOHQ KDW ,FK EHNHQQH PLW WLHIHP 6FKPHU] GD XQWHU DOO GHQ YLHOOHLFKW ]DKOORVHQ OHLFKWIHUWLJHQ XQG XQEHGDFKWHQ +DQGOXQJHQPHLQHV/HEHQVHLQHLVWGLHLQPHLQHP*HGlFKWQLV HLQHQ DXHURUGHQWOLFK SHLQOLFKHQ (LQGUXFN KLQWHUODVVHQ KDW 'LH6DFKHEHJDEVLFKYRUXQJHIlKU]ZDQ]LJ-DKUHQLFKEHIDQG PLFKGDPDOVDXIGHP/DQGH]X%HVXFKEHL3ODWRQ2UG\Q]HZ
(U ZDU VRHEHQ ]XP $GHOVPDUVFKDOO JHZlKOW ZRUGHQ XQG PLW VHLQHU MXQJHQ )UDX DXI VHLQ *XW JHIDKUHQ XP GRUW GLH :LQWHUIHLHUWDJH ]X YHUOHEHQ ,Q GLHVHOEH =HLW ILHO DXFK JHUDGH $QILVVD $OH[HMHZQDV *HEXUWVWDJ XQG VR VROOWHQ GHQQ ]ZHL %lOOH JHJHEHQ ZHUGHQ 'DPDOV ZDU GHU HQW]FNHQGH 5RPDQ GHVMQJHUHQ'XPDV¾/DGDPHDX[FDPHOLDV½ DXHURUGHQWOLFK 0RGH XQG KDWWH VRHEHQ DQJHIDQJHQ LQ GHU YRUQHKPHQ :HOW $XIVHKHQ ]X HUUHJHQ HLQ *HLVWHVZHUN GDV PHLQHV (UDFKWHQV ZHGHUGD]XEHVWLPPWLVWMHPDOV]XYHUJHKHQQRFK]XDOWHUQ,Q GHU 3URYLQ] ZDUHQ DOOH 'DPHQ GDYRQ EHJHLVWHUW ZHQLJVWHQV GLHMHQLJHQ GLH GDV %XFK JHOHVHQ KDWWHQ 'HU 5HL] GHU (U]lKOXQJ GLH HLJHQDUWLJH 6WHOOXQJ GHU +DXSWSHUVRQ GLHVH YHUORFNHQGH:HOWGLHDXIVIHLQVWHDQDO\VLHUWZLUGXQGHQGOLFK DOO GLHVH EH]DXEHUQGHQ 'HWDLOV GLH GXUFK GDV JDQ]H %XFK YHUVWUHXW VLQG ]XP %HLVSLHO GLH %HPHUNXQJ GDUEHU XQWHU ZHOFKHQ 8PVWlQGHQ PDQ 6WUlXH DXV ZHLHQ XQG URWHQ .DPHOLHQ DEZHFKVHOQG YHUZHQGHW PLW HLQHP :RUW DOO GLHVH HQW]FNHQGHQ (LQ]HOKHLWHQ XQG GDV DOOHV ]XVDPPHQ PDFKWHQ HLQH JDQ] JHZDOWLJH 6HQVDWLRQ .DPHOLHQ ZXUGHQ DXHURUGHQWOLFK 0RGH -HGHUPDQQ ZROOWH .DPHOLHQ KDEHQ MHGHUPDQQ VXFKWH ZHOFKH ]X EHNRPPHQ 1XQ IUDJH LFK 6LH ZDU HV ZRKO P|JOLFK YLHOH .DPHOLHQ LQ HLQHU .UHLVVWDGW DXI]XWUHLEHQZHQQDOOH/HXWHZHOFKHIUGLH%lOOHEHVFKDIIHQ ZROOWHQ DXFK ZHQQ GLH %lOOH VHKU ]DKOUHLFK ZDUHQ" 3HWMD :RUGLRZVNRL GHU DUPH .HUO ZDU GDPDOV LQ KHLHU /LHEH ]X $QILVVD $OH[HMHZQD HQWEUDQQW ,FK ZHL ZLUNOLFK QLFKW RE ]ZLVFKHQGHQEHLGHQLUJHQGHLQ9HUKlOWQLVEHVWDQG LFK PHLQH RE HU LUJHQGZHOFKH HUQVWOLFKHQ +RIIQXQJHQ KHJHQ GXUIWH 'HU DUPH0HQVFKYHUORUIDVWGHQ9HUVWDQGXP]XP%DOODEHQGIU $QILVVD $OH[HMHZQD .DPHOLHQ ]X EHVFKDIIHQ 'LH *UlILQ 6R]NDMD DXV 3HWHUVEXUJ GLH EHL GHU )UDX GHV *RXYHUQHXUV ]X %HVXFK ZDU XQG 6RIMD %HVSDORZD ZROOWHQ ZLH EHNDQQW JHZRUGHQ ZDU PLW 6WUlXHQ DXV ZHLHQ .DPHOLHQ NRPPHQ
IU] 'LH.DPHOLHQGDPH
$QILVVD $OH[HMHZQD ZQVFKWH VLFK XP HLQHQ EHVRQGHUHQ (IIHNWKHUYRU]XEULQJHQURWH'HUDUPH3ODWRQZXUGHEHLQDK]X 7RGHJHKHW]WZLHGDVGHQ(KHPlQQHUQEHNDQQWOLFKVRJHKWHU KDWWH LKU KRFK XQG KHLOLJ JHVFKZRUHQ LKU HLQHQ 6WUDX ]X YHUVFKDIIHQ DEHU ZDV JHVFKDK" $P 7DJH YRU GHP %DOO VFKQDSSWHGLH0\WLVFKWVFKHZD.DWHULQD$OH[DQGURZQDGLHLQ DOOHQ'LQJHQ$QILVVD$OH[HMHZQDVIXUFKWEDUH5LYDOLQZDUXQG PLWLKUDXIK|FKVWJHVSDQQWHP)XOHEWHLKUGLH%OXPHQZHJ 1DWUOLFK IROJWHQ :HLQNUlPSIH 2KQPDFKW 3ODWRQ ZDU JDQ] ]X %RGHQ JHVFKPHWWHUW 0DQ EHJUHLIW ZHQQ 3HWMD HV DXI LUJHQGHLQH :HLVH IHUWLJEHNRPPHQ KlWWH LQ GLHVHP NULWLVFKHQ $XJHQEOLFN HLQHQ 6WUDX ]X EHVFKDIIHQ VR ZlUHQ VHLQH %HODQJH GDGXUFK QDWUOLFK VHKU ZHVHQWOLFK JHI|UGHUW ZRUGHQ GLH 'DQNEDUNHLW HLQHU )UDX NHQQW LQ VROFKHQ )lOOHQ NHLQH *UHQ]HQ(UOlXIWXPKHUZLHHLQ%HVHVVHQHUDEHUHVZDUHEHQ HLQ 'LQJ GHU 8QP|JOLFKNHLW DEVROXW QLFKWV ]X PDFKHQ $XI HLQPDOWUHIIHLFKLKQDP7DJHYRUGHP*HEXUWVWDJXQG%DOOXP HOI 8KU DEHQGV EHL 0lU MD 3HWURZQD 6XENRZD HLQHU *XWVQDFKEDULQ2UG\Q]HZV(UVWUDKOW¾:DVLVWPLWGLU"½±¾,FK KDEHZHOFKHJHIXQGHQ+HXUHND½±¾1D%UXGHUGDVHW]WPLFK LQ(UVWDXQHQ:RGHQQ":LHGHQQ"½±¾,Q-HNVFKDLVN½GDVZDU HLQ NOHLQHV 6WlGWFKHQ ]ZDQ]LJ :HUVW HQWIHUQW HV ODJ QLFKW LQ XQVHUP .UHLV ¾GD LVW VR HLQ ElUWLJHU UHLFKHU .DXIPDQQ QDPHQV7UHSDORZGHUZRKQWGDPLWVHLQHUDOWHQ)UDXXQGVWDWW GHU .LQGHU KDEHQ VLH ODXWHU .DQDULHQY|JHO 'LH EHLGHQ VLQG JURH %OXPHQIUHXQGH GHU KDW .DPHOLHQ½ ± ¾$EHU LFK ELWWH GLFKGDVLVWGRFKHLQH VHKU XQVLFKHUH 6DFKH ZHQQ HU VLH QXQ QLFKWKHUJLEW"½±¾,FKZHUGHDXIGLH.QLHIDOOHQXQGPLFKYRU VHLQHQ )HQ VRODQJH XPKHUZlO]HQ ELV HU VLH PLU JLEW RKQH GLH %OXPHQ ZHLFKH LFK QLFKW YRP 3ODW]H½ ± ¾:DQQ IlKUVW GX GHQQ"½±¾0RUJHQJDQ]IUKXPIQI8KU½±¾1DYLHO*OFN½ ,FK IUHXWH PLFK VHKU IU LKQ ZLVVHQ 6LH LFK NHKUWH ]X 2UG\Q]HZ]XUFNHVZDUVFKRQ]ZHL8KUDEHUGLH*HVFKLFKWH JLQJPLUJDUQLFKWDXVGHP.RSIZLVVHQ6LH,FKZROOWHPLFK
VFKRQ VFKODIHQ OHJHQ GD NRPPW PLU SO|W]OLFK HLQ JDQ] RULJLQHOOHU *HGDQNH ,FK VFKOHLFKH PLFK XQYHU]JOLFK LQ GLH .FKH XQG ZHFNH GHQ .XWVFKHU 6DZHOLM ¾)QI]HKQ 5XEHO ZHQQ GX LQ HLQHU KDOEHQ 6WXQGH DQJHVSDQQW KDVW½ ,Q HLQHU KDOEHQ6WXQGHVWHKWQDWUOLFKGHU6FKOLWWHQYRUGHU7U$QILVVD $OH[HMHZQDKDWWHZLHPLUJHVDJWZXUGH0LJUlQHVLHILHEHUWH XQGSKDQWDVLHUWH,FKVWHLJHHLQXQGIDKUHORV8PIQI8KUZDU LFK LQ -HNVFKDLVN LQ GHU +HUEHUJH LFK ZDUWHWH ELV HV KHOO ZXUGH XQG EHJDE PLFK GDQQ VRIRUW XP VLHEHQ 8KU ]X 7UHSDORZ ¾6RXQGVR KDVW GX .DPHOLHQ" 9lWHUFKHQ WHXHUVWHU :RKOWlWHU KLOI PLU UHWWH PLFK LFK YHUEHXJH PLFK YRU GLU ELV ]XP (UGERGHQ½ (U ZDU ZLH LFK VDK HLQ KRFKJHZDFKVHQHU JUDXKDDULJHU ILQVWHUHU DOWHU 0DQQ HLQ IXUFKWEDU VWUHQJHV *HVLFKWPDFKWHHU¾1HLQQHLQXQWHUNHLQHQ8PVWlQGHQGDVWX LFK QLFKW½ ,FK ZDUI PLFK LKP EDW] ]X )HQ /DQJ DXI GHP %RGHQVWUHFNWHLFKPLFKDXV¾:DVWXQ6LHPHLQ9HUHKUWHVWHU ZDVWXQ6LHGD"½ULHIHUHUVFKURFNHQ±¾(VKDQGHOWVLFKKLHUXP HLQ 0HQVFKHQOHEHQ½ VFKULH LFK ± ¾:HQQ¶V VR LVW GDQQ QHKPHQ6LHVLHLQ*RWWHV1DPHQ½'DVFKQLWWLFKPLUDOVRURWH .DPHOLHQ DE :XQGHUYROOH ]DXEHUKDIWH %OXPHQ HU KDWWH HLQ JDQ]HVNOHLQHV7UHLEKDXVYROO'HU$OWHVHXI]WHVFKZHU GDEHL ,FK QHKPH KXQGHUW 5XEHO KHUDXV ¾1HLQ EHVWHU +HUU 6LH ZHUGHQ PLFK GRFK QLFKW VR NUlQNHQ ZROOHQ½ ± ¾1XQ ZHQQ¶V VR VWHKW 9HUHKUWHVWHU VR QHKPHQ 6LH GLHVH KXQGHUW 5XEHO IU GDVKLHVLJH.UDQNHQKDXV]XU9HUEHVVHUXQJGHU8QWHUNXQIWXQG 9HUSIOHJXQJ½±¾'DVLVWHWZDVDQGHUHVOLHEHU+HUU½VDJWHHU ¾'DV LVW HLQ JXWHV HGOHV JRWWJHIlOOLJHV :HUN LFK ZHUGH GDV *HOG LQ ,KUHP 1DPHQ DEOLHIHUQ½ :LVVHQ 6LH HU JHILHO PLU ZLUNOLFK GLHVHU DOWH 5XVVH VR]XVDJHQ HLQ 6WRFNUXVVH GH OD YUDLHVRXFKH *DQ]HQW]FNWGDHVPLUVRJXWJHOXQJHQZDU PDFKWH LFK PLFK VRJOHLFK DXI GHQ +HLPZHJ ZLU IXKUHQ LQ HLQHP %RJHQ ]XUFN XP 3HWMD QLFKW ]X EHJHJQHQ $OV LFK DQNDP JDELFKGLH %OXPHQDE GDPLW VLH GHU +DXVIUDX JOHLFK
IU] YRQHFKWHU+HUNXQIW
EHL LKUHP (UZDFKHQ EHUUHLFKW ZUGHQ 6LH N|QQHQ VLFK LKU (QW]FNHQ LKUH 'DQNEDUNHLW LKUH 7UlQHQ GHU 'DQNEDUNHLW YRUVWHOOHQ 3ODWRQ GHU WDJV ]XYRU QRFK WLHIXQJOFNOLFK XQG KDOEWRW JHZHVHQ ZDU 3ODWRQ VFKOXFK]WH QXQ DQ PHLQHU %UXVW 6RJHKWHV MD OHLGHU DOOHQ (KHPlQQHUQ VHLW GHU (UVFKDIIXQJ GHU OHJLWLPHQ (KH ,FK KDEH QLFKWV ZHLWHU KLQ]X]XIJHQ DOV GDGLH$XVVLFKWHQGHVDUPHQ3HWMDGXUFKGLHVHQ9RUIDOOY|OOLJ ]HUVW|UWZDUHQ,FKGDFKWHDQIDQJVHUZUGHPLFKXPEULQJHQ VRZLHHUGHQ+HUJDQJHUIKUHXQGWUDIIUGLH%HJHJQXQJPLW LKPVFKRQDOOH9RUNHKUXQJHQDEHUGLH6DFKHHQWZLFNHOWHVLFK LQ HLQHU :HLVH GLH LFK QLFKW HUZDUWHW KDWWH HU IlOOW LQ 2KQPDFKW DP $EHQG SKDQWDVLHUW HU DP QlFKVWHQ 0RUJHQ KRKHV )LHEHU HU KHXOW ZLH HLQ NOHLQHV .LQG EHNRPPW .UlPSIH $OV HU HLQHQ 0RQDW GDUDXI ZLHGHUKHUJHVWHOOW ZDU OLH HU VLFK QDFK GHP .DXNDVXV YHUVHW]HQ HV ZXUGH HLQ ULFKWLJHU5RPDQ6FKOLHOLFKILHOHUDXIGHU.ULP'DPDOVZDU QRFK VHLQ %UXGHU 6WHSDQ :RUFKRZVNRL .RPPDQGHXU GHV 5HJLPHQWV XQG ]HLFKQHWH VLFK DOV VROFKHU DXV ,FK PX JHVWHKHQ LFK KDEH QRFK YLHOH -DKUH QDFKKHU *HZLVVHQVELVVH YHUVSUW ZDUXP ]X ZHOFKHP =ZHFN KDEH LFK VR VFKOHFKW DQ LKP JHKDQGHOW" :HQQ LFK GDPDOV VHOEVW YHUOLHEW JHZHVHQ ZlUH $EHU VR ZDU HV HLQIDFK HLQ GXPPHU 6WUHLFK XP HLQHU 'DPH HLQ ELFKHQ GHQ +RI ]X PDFKHQ ZHLWHU QLFKWV 8QG KlWWH LFK LKP GLHVHQ 6WUDX QLFKW ZHJJHILVFKW ZHU ZHL GHU 0HQVFK OHEWH YLHOOHLFKW KHXWH QRFK XQG ZlUH JOFNOLFK XQG KlWWH HV ]X HWZDV JHEUDFKW XQG ZlUH QLH DXI GHQ *HGDQNHQ JHNRPPHQJHJHQGLH7UNHQ]X]LHKHQ $IDQDVVLM ,ZDQRZLWVFK K|UWH MHW]W PLW GHUVHOEHQ UXKLJHQ :UGH DXI ]X VSUHFKHQ PLW GHU HU VHLQH (U]lKOXQJ EHJRQQHQ KDWWH0DQEHPHUNWHGDDOV$IDQDVVLM,ZDQRZLWVFKVFKZLHJ 1DVWDVMD )LOLSSRZQDV $XJHQ LQ HLQHU JDQ] EHVRQGHUHQ :HLVH ]X IXQNHOQ XQG VRJDU LKUH /LSSHQ ]X ]LWWHUQ DQILQJHQ $OOH EOLFNWHQGLHEHLGHQJHVSDQQWDQª6LHKDEHQ)HUG\VFKWVFKHQNR JHSUHOOW 1HLQ ZLH KDEHQ 6LH PLFK JHSUHOOW 'DV LVW ]X DUJ©
ULHI)HUG\VFKWVFKHQNRZHLQHUOLFKGDHUVLFKVDJWHGDHUMHW]W HLQH%HPHUNXQJPDFKHQN|QQHXQGPVVHª:DUXPYHUVWHKHQ 6LH ,KUH 6DFKH QLFKW EHVVHU" /HUQHQ 6LH MHW]W YRQ NOXJHQ /HXWHQ©YHUVHW]WHLKP'DUMD$OH[HMHZQDLQWULXPSKLHUHQGHP 7RQ6LHZDUHLQHDOWHWUHXH)UHXQGLQ7R]NLMVXQGVWDQGLPPHU DXI VHLQHU 6HLWH ª6LH KDEHQ UHFKW $IDQDVVLM ,ZDQRZLWVFK GLHVHV *HVHOOVFKDIWVVSLHO LVW VHKU ODQJZHLOLJ XQG ZLU PVVHQ HV VR VFKQHOO ZLH P|JOLFK DEEUHFKHQ© VDJWH 1DVWDVMD )LOLSSRZQDZHJZHUIHQGª,FKZHUGHQXQQRFKVHOEVWHU]lKOHQ ZDV LFK YHUVSURFKHQ KDEH XQG GDQQ ZROOHQ ZLU .DUWHQ VSLHOHQ© ª$EHU YRUKHU QRFK YRU DOOHQ 'LQJHQ GLH YHUVSURFKHQH*HVFKLFKWH© VWLPPWHLKUGHU*HQHUDO HLIULJEHL ª)UVW© ZDQGWH 1DVWDVMD )LOLSSRZQD VLFK SO|W]OLFK LQ VFKDUIHP 7RQ DQ 0\VFKNLQ ªPHLQH DOWHQ )UHXQGH KLHU GHU *HQHUDO XQG $IDQDVVLM ,ZDQRZLWVFK ZROOHQ PLFK LPPHU YHUKHLUDWHQ 6DJHQ 6LH PLU ZLH 6LH GDUEHU GHQNHQ VROO LFK KHLUDWHQRGHUQLFKW":DV6LHVDJHQZHUGHLFKWXQ© $IDQDVVLM,ZDQRZLWVFKZXUGHEODGHU*HQHUDOHUVWDUUWHDOOH ULVVHQGLH$XJHQDXIXQGVWUHFNWHQGLH.|SIHYRU*DQMDVWDQG ZLH DQJHZXU]HOW DXI VHLQHP 3ODW] ª0LW PLW ZHP"© IUDJWH GHU )UVW PLW IDVW YHUVDJHQGHU 6WLPPH ª0LW *DZULOD $UGDOLRQRZLWVFK ,ZROJLQ© IXKU 1DVWDVMD )LOLSSRZQD VFKDUI EHVWLPPWXQGGHXWOLFKZLHYRUKHUIRUW (V YHUJLQJHQ HLQLJH 6HNXQGHQ GHV 6FKZHLJHQV HV VFKLHQ GD GHU )UVW PLW DOOHU $QVWUHQJXQJ ]X UHGHQ YHUVXFKWH DEHU NHLQ :RUW KHUDXVEHNDP DOV ODVWHWH HLQ IXUFKWEDUHU 'UXFN DXI VHLQHU %UXVW ª1±QHLQ KHLUDWHQ 6LH LKQ QLFKW© IOVWHUWH HU HQGOLFK HU NRQQWH QXU PKVDP DWPHQ ª6R VROO HV DXFK VHLQ *DZULOD $UGDOLRQRZLWVFK© ZDQGWH VLH VLFK KHUULVFK XQG JOHLFKVDPWULXPSKLHUHQGDQGLHVHQªKDEHQ6LHJHK|UWZHOFKH (QWVFKHLGXQJ GHU )UVW JHIlOOW KDW" 1XQ GDULQ OLHJW ]XJOHLFK DXFKPHLQH$QWZRUWVRVROOGHQQGLHVH6DFKH HLQIU DOOHPDO HUOHGLJW VHLQ© ª1DVWDVMD )LOLSSRZQD© VDJWH $IDQDVVLM ,ZDQRZLWVFK PLW ]LWWHUQGHU 6WLPPH ª1DVWDVMD )LOLSSRZQD©
ULHIDXFKGHU*HQHUDOLQELWWHQGHPDEHUHUUHJWHP7RQ $OOHZDUHQLQ %HZHJXQJXQG8QUXKH JHUDWHQ ª$EHU PHLQH +HUUVFKDIWHQ©IXKUVLHIRUWLQGHPVLHLKUH*lVWHDQVFKHLQHQG VHKUHUVWDXQWDQVDK ªZDUXPUHJHQ6LHVLFKGHQQVRDXI"8QG ZDVPDFKHQ6LHDOOHIU*HVLFKWHU"©ª$EHUHULQQHUQ6LHVLFK GRFK 1DVWDVMD )LOLSSRZQD© PXUPHOWH 7R]NLM VWRWWHUQG ª6LH KDEHQXQVGRFKGDV9HUVSUHFKHQJHJHEHQJDQ]IUHLZLOOLJ XQGKlWWHQGRFKDXFKHWZDVUFNVLFKWVYROOHUYHUIDKUHQN|QQHQ (V IlOOW PLU VFKZHU XQG JHZL LFK ELQ YHUZLUUW DEHU 0LW HLQHP :RUWH MHW]W LQ GLHVHP $XJHQEOLFN XQG LQ *HJHQZDUWLQ*HJHQZDUWVRYLHOHU/HXWHXQGDOOHVGDVVR HLQH VR HUQVWH 6DFKH GXUFK HLQ *HVHOOVFKDIWVVSLHO ]X HQWVFKHLGHQHLQH6DFKHEHLGHUHVXPGLH(KUHXQGGDV+HU] JHKW YRQ GHU VR YLHO DEKlQJW © ª,FK YHUVWHKH 6LH QLFKW $IDQDVVLM ,ZDQRZLWVFK 6LH VLQG ZLUNOLFK JDQ] YHUZLUUW (UVWHQV ZDV VROO GDV KHLHQ ¾LQ *HJHQZDUW VR YLHOHU /HXWH½" %HILQGHQ ZLU XQV HWZD QLFKW LQ HLQHP VFK|QHQ YHUWUDXWHQ .UHLVH"8QGZDUXPVDJHQ6LH¾GXUFKHLQ*HVHOOVFKDIWVVSLHO½" ,FKEHDEVLFKWLJWHDOOHUGLQJVDXFKPHLQHUVHLWVHLQHQ%HLWUDJ]X OLHIHUQ GDV KDEH LFK JHWDQ ZDU HU HWZD QLFKW KEVFK" 8QG ZDUXP PHLQHQ 6LH GD HV PLU QLFKW HUQVW VHL" ,VW GHQQ GDV QLFKWHUQVW"6LHKDEHQJHK|UWGDLFK]XP)UVWHQVDJWH¾:DV 6LHVDJHQZHUGHQGDVZHUGH LFK WXQ½ +lWWH HU QXQ MD JHVDJW VR KlWWH LFK VRIRUW PHLQH (LQZLOOLJXQJ JHJHEHQ DEHU HU KDW QHLQ JHVDJW XQG GDKHU KDEH LFK PLFK JHZHLJHUW LVW GHQQ GDV HWZDQLFKWHUQVW"0HLQJDQ]HV/HEHQKLQJKLHUDQHLQHP+DDU ZDV NDQQ HV (UQVWHUHV JHEHQ"© ª$EHU GHU )UVW :DV KDW GHU )UVWGDPLW]XWXQ"©:DVLVWGHQQVFKOLHOLFKEHUKDXSWGLHVHU )UVW"© PXUPHOWH GHU *HQHUDO GHU NDXP PHKU LPVWDQGH ZDU VHLQHQ 8QZLOOHQ GDUEHU ]X YHUEHUJHQ GD GHP )UVWHQ LQ HLQHUVRJDUNUlQNHQGHQ:HLVHHLQHVROFKH$XWRULWlW]XHUNDQQW ZXUGH ª'HU )UVW LVW IU PLFK LQVRIHUQ YRQ :HUW DOV HU LQ PHLQHP JDQ]HQ /HEHQ GHU HUVWH 0HQVFK LVW GHP LFK ZHJHQ VHLQHU DXIULFKWLJHQ (UJHEHQKHLW KDEH 9HUWUDXHQ VFKHQNHQ
N|QQHQ(UKDWDXIGHQHUVWHQ%OLFNDQPLFKJHJODXEWXQGLFK JODXEHLKP©ª(VEOHLEWPLUQXUEULJ1DVWDVMD)LOLSSRZQDIU GDV DXHURUGHQWOLFKH =DUWJHIKO ]X GDQNHQ PLW GHP VLH PLFK EHKDQGHOW KDW© VDJWH *DQMD HQGOLFK HU ZDU JDQ] EOD VHLQH 6WLPPH ]LWWHUWH VHLQH /LSSHQ YHU]RJHQ VLFK NUDPSIKDIW ª6LH KDWQDWUOLFKGXUFKDXVULFKWLJJHKDQGHOW$EHUGHU)UVW GHU )UVW ZLUG GDEHL ZRKO © ª(U ZLUG GDEHL ZRKO QDFK GHQ IQIXQGVLHE]LJWDXVHQG 5XEHOQ WUDFKWHQ QLFKW ZDKU"© XQWHUEUDFK LKQ 1DVWDVMD )LOLSSRZQD ª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© 1DFK GLHVHQ :RUWHQ HUKRE VLH VLFK SO|W]OLFK ZLH ZHQQ VLH ZHJJHKHQ ZROOWH ª1DVWDVMD )LOLSSRZQD 1DVWDVMD )LOLSSRZQD©HUW|QWHHVYRQDOOHQ6HLWHQ$OOHZDUHQLQJU|WHU $XIUHJXQJXQGVSUDQJHQYRQLKUHQ3OlW]HQDXIDOOHXPULQJWHQ VLH DOOH KRUFKWHQ PLW 8QUXKH DXI GLH DEJHULVVHQHQ ILHEHUKDIWHQOHLGHQVFKDIWOLFKHQ 6lW]H GLH VLH KHUYRUVWLH DOOH KDWWHQ GDV *HIKO GD GD HWZDV QLFKW LQ 2UGQXQJ ZDU QLHPDQG YHUPRFKWH GDUDXV NOXJ ]X ZHUGHQ QLHPDQG NRQQWH GLH 6DFKH EHJUHLIHQ ,Q GLHVHP $XJHQEOLFN HUW|QWH SO|W]OLFK HLQ VWDUNHV ODXWHV .OLQJHOQ JHQDX ZLH HLQLJH 6WXQGHQ YRUKHU LQ *DQMDV :RKQXQJ ª$±D±DK 'D NRPPW GLH (QWVFKHLGXQJ (QGOLFK8PKDOE]Z|OI©ULHI1DVWDVMD)LOLSSRZQDª,FKELWWH 6LH 3ODW] ]X QHKPHQ PHLQH +HUUHQ GDV LVW GLH
(QWVFKHLGXQJ© 1DFKGHPVLHGDVJHVDJWKDWWHVHW]WHVLHVLFKVHOEVWKLQ(LQ VHOWVDPHV /lFKHOQ ]LWWHUWH DXI LKUHQ /LSSHQ 6LH VD VFKZHLJHQGGDLQILHEHUKDIWHU(UZDUWXQJXQGEOLFNWHQDFKGHU 7U ª(V LVW 5RJRVKLQ PLW GHQ KXQGHUWWDXVHQG 5XEHOQ NHLQ =ZHLIHO©PXUPHOWH3WL]\QYRUVLFKKLQ
;9 'DV 6WXEHQPlGFKHQ .DWMD NDP JDQ] HUVFKURFNHQ KHUHLQ ª'D JHKWHWZDV JDQ]7ROOHVYRU1DVWDVMD )LOLSSRZQDHVVLQG HWZD]HKQ0HQVFKHQHLQJHGUXQJHQJDQ]EHWUXQNHQVLHZROOHQ YRUJHODVVHQ ZHUGHQ VLH VDJHQ HV VHL 5RJRVKLQ XQG 6LH ZWHQ VFKRQ %HVFKHLG© ª(V LVW ULFKWLJ .DWMD OD VLH DOOH VRJOHLFKKHUHLQ© ª:LUNOLFKDOOH1DVWDVMD )LOLSSRZQD"'LH /HXWHVHKHQJDU]XVFKOLPPDXV(VLVWVFKDXGHUKDIW©ª/DVLH QXU DOOH KHUHLQ .DWMD DOOH IUFKWH GLFK QLFKW DOOH RKQH $XVQDKPHVRQVWNRPPHQVLHRKQHGHLQH(UODXEQLVKHUHLQ'D ZDV VLH IU HLQHQ /lUP PDFKHQ JHUDGH ZLH VFKRQ HLQPDO KHXWH0HLQH+HUUVFKDIWHQ©ZDQGWHVLHVLFKDQGLH*lVWHª6LH YHUEHOQ HV PLU YLHOOHLFKW GD LFK LQ ,KUHU *HJHQZDUW HLQH VROFKH *HVHOOVFKDIW HPSIDQJH" ,FK EHGDXHUH HV VHKU XQG ELWWH XP9HU]HLKXQJ DEHU HVPXVHLQXQG HV ZlUH PLU DXFK VHKU HUZQVFKW ZHQQ 6LH DOOH HLQZLOOLJWHQ EHL GLHVHU EHYRUVWHKHQGHQ(QWVFKHLGXQJPHLQH=HXJHQ]XVHLQ,QGHVVHQ JDQ]ZLHHV,KQHQEHOLHEW© 'LH *lVWH NDPHQ DXV GHP 6WDXQHQ QLFKW KHUDXV VLH IOVWHUWHQXQGZHFKVHOWHQ%OLFNHPLWHLQDQGHUDEHUHVZDUJDQ] NODU GD GLHV DOOHV YRUKHU EHUOHJW XQG YRUKHU DUUDQJLHUW ZDU XQG GD 1DVWDVMD )LOLSSRZQD REJOHLFK VLH ZLUNOLFK GHQ
9HUVWDQG YHUORUHQ KDEHQ PRFKWH VLFK MHW]W YRQ LKUHP 9RUKDEHQ QLFKW ZUGH DEEULQJHQ ODVVHQ $OOH ZDUHQ DXHURUGHQWOLFK JHVSDQQW hEHUGLHV KDWWH QLHPDQG HWZDV %HVRQGHUHV ]X IUFKWHQ 'DPHQ ZDUHQ QXU ]ZHL DQZHVHQG 'DUMD $OH[HMHZQD GLH JHZDQGWH 'DPH GLH VFKRQ PDQFKHUOHL LQ GHU :HOW JHVHKHQ KDWWH XQG QLFKW OHLFKW LQ 9HUOHJHQKHLW ]X EULQJHQ ZDU XQG GLH VFK|QH DEHU VFKZHLJVDPH 8QEHNDQQWH $EHU GLH VFKZHLJVDPH 8QEHNDQQWH NRQQWH IDVW QLFKWV YHUVWHKHQ VLH ZDU HLQH ]XJHUHLVWH 'HXWVFKH XQG NRQQWH QLFKW 5XVVLVFKDXHUGHPZDUVLHZLHHVVFKLHQHEHQVRGXPPZLH VLHVFK|QZDU6LHZDUHUVW YRU NXU]HP DQJHNRPPHQ DEHU HV ZDU VFKRQ EOLFK JHZRUGHQ VLH ]X JHZLVVHQ $EHQGJHVHOOVFKDIWHQ HLQ]XODGHQ EHL GHQHQ VLH GDQQ LQ UHLFKVWHU7RLOHWWHXQGZLH]XHLQHU$XVVWHOOXQJIULVLHUWHUVFKLHQ XQGZLHHLQHQW]FNHQGHV%LOG]XU9HUVFK|QHUXQJGHV$EHQGV LKUHQ 3ODW] HUKLHOW JHUDGH ZLH PDQFKH /HXWH VLFK IU LKUH *HVHOOVFKDIWHQ IU HLQHQ $EHQG YRQ %HNDQQWHQ HLQ *HPlOGH HLQH 9DVH HLQH 6WDWXH RGHU HLQHQ 2IHQVFKLUP OHLKHQ :DV MHGRFK GLH 0lQQHU DQODQJWH VR ZDU 3WL]\Q PLW 5RJRVKLQ EHIUHXQGHW )HUG\VFKWVFKHQNR IKOWH VLFK ZLH HLQ )LVFK LP :DVVHU *DQMHWVFKND NRQQWH LPPHU QRFK QLFKW UHFKW ]X VLFK NRPPHQ LQGHV HPSIDQG HU GXQNHO HLQ XQEHUZLQGOLFKHV JOKHQGHV 9HUODQJHQ ELV ]XP (QGH DQ VHLQHP 6FKDQGSIDKO DXV]XKDOWHQGHUDOWH/HKUHUGHUYRQGHQ9RUJlQJHQQXUZHQLJ YHUVWDQG ZHLQWH EHLQDK XQG ]LWWHUWH EXFKVWlEOLFK YRU )XUFKW GDHUEHLGHQDQGHUQXQG1DVWDVMD)LOLSSRZQDGLHHUZLHVHLQH (QNHOLQ YHUJ|WWHUWH HLQH VR XQJHZ|KQOLFKH $XIUHJXQJ ZDKUQDKPDEHUHUZlUHHKHUJHVWRUEHQDOVGDHUVLHLQHLQHP VROFKHQ $XJHQEOLFN YHUODVVHQ KlWWH :DV $IDQDVVLM ,ZDQRZLWVFK EHWULIIW VR GXUIWH HU VLFK DOOHUGLQJV EHL VROFKHQ $IIlUHQ QLFKW NRPSURPLWWLHUHQ DEHU HU ZDU DQ GHU $QJHOHJHQKHLW]XVHKULQWHUHVVLHUWREZRKOVLHHLQHVRVLQQORVH :HQGXQJJHQRPPHQKDWWHDXFKKDWWH1DVWDVMD)LOLSSRZQDHLQ SDDUGHUDUWLJHLKQEHWUHIIHQGH %HPHUNXQJHQ IDOOHQODVVHQGD
HU XQP|JOLFK JHKHQ NRQQWH EHYRU GLH 6DFKH YROOVWlQGLJ DXIJHNOlUWZDU(UHQWVFKLHGVLFKGDIUELV ]X (QGH VLW]HQ ]X EOHLEHQ QXQPHKU JlQ]OLFK ]X VFKZHLJHQ XQG QXU GHQ %HREDFKWHU ]X VSLHOHQ HLQ 9HUKDOWHQ GDV DXFK VHLQH :UGH VLFKHUOLFK YHUODQJWH 1XU IU *HQHUDO -HSDQWVFKLQ GHU VFKRQ VRHEHQ GXUFK GLH VR XQJHQLHUWH OlFKHUOLFKH 5FNJDEH VHLQHV *HVFKHQNHV JHNUlQNW ZRUGHQ ZDU EHVWDQG GLH 0|JOLFKNHLW GD HU GXUFK DOOH GLHVH VHOWVDPHQ ([]HQWUL]LWlWHQ RGHU DXFK GXUFK5RJRVKLQV(UVFKHLQHQQRFKZHLWHUEHOHLGLJWZXUGHDXFK KDWWH HLQ 0DQQ ZLH HU RKQHKLQ VFKRQ HLQH ]X ZHLW JHKHQGH +HUDEODVVXQJ JH]HLJW LQGHP HU VLFK HQWVFKORVVHQ KDWWH VLFK QHEHQ HLQHQ 3WL]\Q XQG HLQHQ )HUG\VFKWVFKHQNR ]X VHW]HQ DEHU GLH :LUNXQJ GHU /HLGHQVFKDIW PXWH GRFK HQGOLFK DXIJHKREHQ XQG EHUZRJHQ ZHUGHQ GXUFK GDV *HIKO GHU 3IOLFKW GXUFK GDV %HZXWVHLQ VHLQHV 5DQJHV XQG VHLQHU JHVHOOVFKDIWOLFKHQ 6WHOOXQJ VRZLH EHUKDXSW GXUFK GLH 6HOEVWDFKWXQJ VR GD HLQ 5RJRVKLQ PLW VHLQHU *HVHOOVFKDIW MHGHQIDOOV LQ *HJHQZDUW 6HLQHU ([]HOOHQ] HLQ 'LQJ GHU 8QP|JOLFKNHLW ZDU ª$FK *HQHUDO© XQWHUEUDFK LKQ 1DVWDVMD )LOLSSRZQDVRJOHLFKDOVHUVLFKPLWHLQHU(UNOlUXQJGLHVHU$UW DQ VLH ZDQGWH ªGDV KDWWH LFK LP $XJHQEOLFN YHUJHVVHQ $EHU VHLHQ 6LH EHU]HXJW GD LFK ,KUH %HGHQNHQ YRUKHUJHVHKHQ KDEH:HQQHV ,KQHQVRSHLQOLFKLVWEHVWHKHLFK QLFKW GDUDXI GD6LHKLHUEOHLEHQXQGZLOO6LHQLFKW]XUFNKDOWHQREZRKOHV PLU K|FKVW HUZQVFKW VHLQ ZUGH JHUDGH 6LH MHW]W EHL PLU ]X VHKHQ -HGHQIDOOV GDQNH LFK ,KQHQ VHKU IU ,KUH %HNDQQWVFKDIW XQG IU GLH VFKPHLFKHOKDIWH $XIPHUNVDPNHLW GLH 6LH PLU HUZLHVHQ KDEHQ DEHU ZHQQ 6LH IUFKWHQ © ª(UODXEHQ 6LH 1DVWDVMD )LOLSSRZQD© ULHI GHU *HQHUDO LQ HLQHP $QIDOO YRQ ULWWHUOLFKHP(GHOPXWª]XZHPUHGHQ6LHVR"6FKRQDOOHLQDXV (UJHEHQKHLW ZHUGH LFK MHW]W EHL ,KQHQ EOHLEHQ XQG ZHQQ LUJHQGZHOFKH *HIDKU EHVWHKHQ VROOWH $XHUGHP PX LFK EHNHQQHQ GD LFK DXHURUGHQWOLFK QHXJLHULJ ELQ ,FK ZROOWH QXU GDUDXI DXIPHUNVDP PDFKHQ GD GLHVH 0HQVFKHQ
P|JOLFKHUZHLVHGLH7HSSLFKHYHUGHUEHQXQGHWZDV]HUEUHFKHQ ZHUGHQ0HLQHU$QVLFKWQDFKVROOWHQ6LHVLHEHUKDXSWQLFKW KHUHLQODVVHQ1DVWDVMD)LOLSSRZQD©ª'DLVW5RJRVKLQVHOEVW© ULHI )HUG\VFKWVFKHQNR ª:LH GHQNHQ 6LH GDUEHU $IDQDVVLM ,ZDQRZLWVFK"© IOVWHUWH GLHVHP GHU *HQHUDO VFKQHOO ]X ª2E VLHQLFKWGHQ9HUVWDQGYHUORUHQKDW"'DVKHLWQLFKWILJUOLFK JHVDJW VRQGHUQ LP HLJHQWOLFKHQ PHGL]LQLVFKHQ 6LQQH ZLH"© ª,FK KDEH ,KQHQ VFKRQ IUKHU JHVDJW GD VLH YRQ MHKHU GD]X QHLJWH© IOVWHUWH $IDQDVVLM ,ZDQRZLWVFK VFKODX ]XUFN ª8QG GD]XQXQQRFKGDV)LHEHU© 5RJRVKLQV*HIROJHZLHVIDVWGHQVHOEHQ %HVWDQG DXIZLH DP 7DJH KLQ]XJHNRPPHQ ZDUHQ QXU HLQ KHUXQWHUJHNRPPHQHU DOWHU 0DQQ GHU VHLQHU]HLW 5HGDNWHXU HLQHV ELVVLJHQ 6NDQGDOEOlWWFKHQV JHZHVHQ ZDU XQG YRQ GHP PDQ VLFK GDV *HVFKLFKWFKHQ HU]lKOWH HU KDEH VHLQH LQ *ROG JHIDWHQ IDOVFKHQ =lKQH YHUVHW]W XQG YHUWUXQNHQ VRZLH HLQ YHUDEVFKLHGHWHU /HXWQDQW QDFK VHLQHP +DQGZHUN XQG VHLQHU %HVWLPPXQJ HLQ HQWVFKLHGHQHU 5LYDOH XQG .RQNXUUHQW GHV VFKRQ DP 7DJH DQZHVHQGHQ +HUUQ PLW GHQ )lXVWHQ QLHPDQG YRQ 5RJRVKLQV EULJHQ /HXWHQ NDQQWH LKQ HU ZDU DXI GHU 6RQQHQVHLWH GHV 1HZVNLM 3URVSHNWV DXIJHOHVHQ ZRUGHQ ZR HU GLH 3DVVDQWHQ DQKLHOW XQG LP 0DUOLQVNLMVFKHQ 6WLO XP HLQH 8QWHUVWW]XQJEDWPLWGHUVFKODXHQ%HPHUNXQJHUVHOEVWKDEH VHLQHU]HLW MHGHP %LWWVWHOOHU IQI]HKQ 5XEHO JHJHEHQ 'LH EHLGHQ .RQNXUUHQWHQ QDKPHQ YRQ YRUQKHUHLQ HLQH IHLQGOLFKH 6WHOOXQJJHJHQHLQDQGHU HLQ 'HU VFKRQ HKHU DXIJHWUHWHQH +HUU PLW GHQ )lXVWHQ KLHOW VLFK GXUFK GLH $XIQDKPH GHV ª%LWWVWHOOHUV©LQGLH*HVHOOVFKDIWJHUDGH]XIUEHOHLGLJWXQGGD HUYRQ1DWXUVFKZHLJVDPZDUEUXPPWHHUQXUPDQFKPDOZLH HLQ %lU XQG EOLFNWH PLW WLHIVWHU 9HUDFKWXQJ DXI GLH 6FKPHLFKHOHLHQXQG6FKHU]HPLWGHQHQVLFKGHU ª%LWWVWHOOHU© 0DUOLQVNLM 3VHXGRQ\P YRQ $ $ %HVWXVKHZ =XQlFKVW UHYROXWLRQlUHU6FKULIWVWHOOHUVFKULHEVSlWHULQPDQLHULHUWHPXQGEHUWULHEHQ SDWKHWLVFKHP6WLO
GHU VLFK DOV HLQH ZHOWPlQQLVFKH GLSORPDWLVFKH 3HUV|QOLFKNHLW HUZLHV DQ LKQ KHUDQPDFKWH 6HLQHP bXHUQ QDFK OLH GHU /HXWQDQW HUZDUWHQ GD HU ªEHL GHU $UEHLW© PHKU GXUFK *HVFKLFNOLFKNHLW XQG *HZDQGWKHLW DOV GXUFK .UDIW ZLUNHQ ZHUGH DXFK ZDU HU YRQ NOHLQHUHU 6WDWXU DOV GHU +HUU PLW GHQ )lXVWHQ 7DNWYROO RKQH LQ HLQHQ RIIHQHQ 6WUHLW HLQ]XWUHWHQ DEHUVHKUUXKPUHGLJKDWWHHUVFKRQPHKUPDOVDXIGLH9RU]JH GHV HQJOLVFKHQ %R[HQV KLQJHZLHVHQ XQG VLFK DOV HLQ HQWVFKLHGHQHU $QKlQJHU ZHVWHXURSlLVFKHQ :HVHQV ]X HUNHQQHQ JHJHEHQ 'HU +HUU PLW GHQ )lXVWHQ KDWWH EHL GHP :RUW ª%R[HQ© QXU JHULQJVFKlW]LJ XQG EHOHLGLJHQG JHOlFKHOW XQG VHLQHUVHLWV RKQH VHLQHQ 5LYDOHQ HLQHV RIIHQHQ 6WUHLWHV ]X ZUGLJHQ ]XZHLOHQ VFKZHLJHQG XQG DQVFKHLQHQG XQEHZXW HLQ GXUFKDXV QDWLRQDOHV 1DWXUSURGXNW JH]HLJW RGHU ULFKWLJHU JHVDJW]XP $QVFKDXHQ YRUJHVWUHFNW HLQH JHZDOWLJH VHKQLJH NQRUULJH PLW HLQHU $UW YRQ U|WOLFKHP )ODXP EHZDFKVHQH )DXVW XQG HV ZDU DOOHQ NODUJHZRUGHQ GD ZHQQ GLHVHV HFKW QDWLRQDOH 1DWXUSURGXNW RKQH GDQHEHQ]XJHKHQ DXI HLQ /HEHZHVHQ QLHGHUILHO YRQ GLHVHP WDWVlFKOLFK QXU HLQ QDVVHU )OHFNEULJEOLHE ,P YROOHQ :RUWVLQQ ªIHUWLJ© ZDU HEHQVR ZLH DP 7DJH DXFK GLHVPDONHLQHUYRQLKQHQGDVZDUHLQ(UIROJGHUSHUV|QOLFKHQ %HPKXQJHQ 5RJRVKLQV GHP GHQ JDQ]HQ 7DJ EHU VHLQ %HVXFKEHL1DVWDVMD)LOLSSRZQDDOV=LHOYRU$XJHQJHVFKZHEW KDWWH(UVHOEVWZDUZLHGHUIDVW JDQ]QFKWHUQ JHZRUGHQDEHU GDIUZDUHUEHLQDKHEHWlXEWYRQDOOGHQ(LQGUFNHQGLHLKP GLHVHU VHOWVDPH PLW NHLQHP VHLQHU IUKHUHQ /HEHQVWDJH YHUJOHLFKEDUH 7DJ JHEUDFKW KDWWH 1XU HLQH $EVLFKW KDWWH HU MHGH 0LQXWH MHGH 6HNXQGH LP $XJH JHKDEW LP *HGlFKWQLV EHKDOWHQLP+HU]HQ JHKHJWXQGXPGLHVHV(LQHDXV]XIKUHQ KDWWH HU GLH JDQ]H =HLW YRQ IQI 8KU QDFKPLWWDJV ELV HOI 8KU DEHQGVLQJU|WHU$XIUHJXQJXQG8QUXKHGDPLWYHUEUDFKWPLW /HXWHQ ZLH %LVNXS XQG .LQGHU ]X YHUKDQGHOQ GLH JOHLFKIDOOV IDVWGHQ9HUVWDQGYHUORUHQKDWWHQXQGLQVHLQHP ,QWHUHVVHZLH
GLH%HVHVVHQHQXPKHUUDQQWHQ$EHUGLHKXQGHUWWDXVHQG5XEHO LQ EDU DXI GLH 1DVWDVMD )LOLSSRZQD EHLOlXILJ VS|WWLVFK XQG Y|OOLJ XQNODU DQJHVSLHOW KDWWH ZDUHQ GRFK ]XVDPPHQJHEUDFKW ZRUGHQ DOOHUGLQJV ]X 3UR]HQWHQ YRQ GHQHQ VRJDU %LVNXS VHOEVW VFKDPKDIWHUZHLVH PLW .LQGHU QLFKW ODXW VRQGHUQ QXU IOVWHUQGVSUDFK 5RJRVKLQVFKULWWZLH DP 7DJH DXFK MHW]W DQ GHU 6SLW]H DOOHU HLQKHU GLH EULJHQ JLQJHQ KLQWHU LKP ]ZDU LP YROOHQ %HZXWVHLQ LKUHU 9RU]JH DEHU GRFK HLQLJHUPDHQ lQJVWOLFK +DXSWVlFKOLFK IUFKWHWHQ VLH VLFK *RWW ZHL ZHVKDOE YRU 1DVWDVMD )LOLSSRZQD 0DQFKH YRQ LKQHQ GDFKWHQ VRJDU PDQ ZHUGH VLH DOOH XQYHU]JOLFK GLH 7UHSSH KLQXQWHUZHUIHQ =X GHQHQGLHVROFKH%HIUFKWXQJHQKHJWHQ JHK|UWHXQWHUDQGHUQ GHU6WXW]HUXQG+HU]HQEH]ZLQJHU6DOMRVKHZ'LHDQGHUQDEHU XQGJDQ]EHVRQGHUVGHU+HUUPLWGHQ)lXVWHQKHJWHQZHQQVLH HVDXFKQLFKWODXWDXVVSUDFKHQGRFKLQLKUHP+HU]HQHLQHWLHIH 9HUDFKWXQJ MD HLQHQ +D JHJHQ 1DVWDVMD )LOLSSRZQD XQG JLQJHQ ]X LKU DOV RE VLH JHJHQ HLQH ]X EHODJHUQGH 6WDGW YRUUFNWHQ$EHUGLHSUDFKWYROOH(LQULFKWXQJGHUHUVWHQEHLGHQ =LPPHU GLH NRVWEDUHQ *HJHQVWlQGH ZLH VLH GHUJOHLFKHQ QLH JHVHKHQ KDWWHQ MD QLFKW HLQPDO YRP +|UHQVDJHQ NDQQWHQ GLH DXVHUOHVHQHQ 0|EHO GLH JURH 9HQXVVWDWXH DOOHV GDV ULHI EHL LKQHQ HLQH JHZLVVH (KUIXUFKW MD EHLQDK $QJVW KHUYRU 'DV NRQQWH VLH DEHU QDWUOLFK DOOH QLFKW GDUDQ KLQGHUQ VLFK DOOPlKOLFK PLW IUHFKHU 1HXJLHU WURW] LKUHU $QJVW KLQWHU 5RJRVKLQ KHU LQ GHQ 6DORQ ]X GUlQJHQ DEHU DOV GHU +HUU PLW GHQ )lXVWHQ GHU ª%LWWVWHOOHU© XQG HLQLJH DQGHUH GHQ *HQHUDO -HSDQWVFKLQXQWHUGHQ*lVWHQEHPHUNWHQZXUGHQVLHLPHUVWHQ $XJHQEOLFN GHUPDHQ PXWORV GD VLH VRJDU DQILQJHQ VLFK VDFKWH QDFK GHP DQGHUQ =LPPHU ]XUFN]X]LHKHQ 1XU /HEHGHZGHUDPPHLVWHQ0XWXQG6HOEVWYHUWUDXHQEHVDJLQJ EHLQDKDQ5RJRVKLQV6HLWHGHQQHUZXWHZDVHVEHGHXWHWHLQ .DSLWDO YRQ HLQHU 0LOOLRQ XQG YLHUKXQGHUWWDXVHQG 5XEHOQ LP %HVLW]XQGKXQGHUWWDXVHQGDXJHQEOLFNOLFKLQ+lQGHQ]XKDEHQ
(VPXEULJHQVKHUYRUJHKREHQZHUGHQGDVLHDOOHVRJDUGHU VDFKYHUVWlQGLJH /HEHGHZ QLFKW DXVJHQRPPHQ VLFK EHU GLH *UHQ]HQ LKUHU 0DFKW HLQLJHUPDHQ LP XQNODUHQ ZDUHQ XQG QLFKW ZXWHQ RE LKQHQ MHW]W WDWVlFKOLFK DOOHV HUODXEW VHL RGHU QLFKW /HEHGHZ KlWWH LQ PDQFKHQ $XJHQEOLFNHQ GDUDXI VFKZ|UHQ P|JHQ GD VLH MHW]W DOOHV ZDJHQ GUIWHQ DEHU LQ DQGHUQHPSIDQGHUHLQXQUXKLJHV%HGUIQLVVLFKLPVWLOOHQIU DOOH )lOOH DQ HLQLJH 3DUDJUDSKHQ GHU *HVHW]VDPPOXQJ XQG QDPHQWOLFKDQVROFKH HUPXWLJHQGHQXQGEHUXKLJHQGHQ ,QKDOWV ]XHULQQHUQ $XI 5RJRVKLQ PDFKWH 1DVWDVMD )LOLSSRZQDV 6DORQ GHQ HQWJHJHQJHVHW]WHQ (LQGUXFN ZLH DXI DOOH VHLQH *HIlKUWHQ .DXP KDWWH HU GLH 3RUWLHUH ]XUFNJHVFKODJHQ XQG 1DVWDVMD )LOLSSRZQD HUEOLFNW DOV DOOHV EULJH IU LKQ ]X H[LVWLHUHQ DXIK|UWH JHUDGH ZLH DP 0RUJHQ VRJDU LQ QRFK K|KHUHP *UDGH DOV YRUKLQ (U ZXUGH EOD XQG EOLHE HLQHQ $XJHQEOLFN VWHKHQ PDQ NRQQWH HUUDWHQ GD VHLQ +HU] IXUFKWEDU NORSIWH 6FKFKWHUQ XQG IDVVXQJVORV VDK HU HLQLJH 6HNXQGHQ ODQJ 1DVWDVMD)LOLSSRZQDPLWXQYHUZDQGWHQ%OLFNHQDQ$XIHLQPDO JLQJ HU DOV ZlUH LKP DOOH 'HQNNUDIW DEKDQGHQ JHNRPPHQ EHLQDKVFKZDQNHQGDQGHQ7LVFKKHUDQXQWHUZHJVVWLHHUDQ 3WL]\QV6WXKOXQGWUDWPLWVHLQHQVFKPXW]LJHQ6WLHIHOQDXIGHQ 6SLW]HQEHVDW] GHV SUDFKWYROOHQ KLPPHOEODXHQ .OHLGHV GHU VFKZHLJVDPHQ VFK|QHQ 'HXWVFKHQ DEHU HU HQWVFKXOGLJWH VLFK QLFKWXQGKDWWHHVJDUQLFKWEHPHUNW$OVHU]XP7LVFKJHODQJW ZDUOHJWHHUHLQHQVRQGHUEDUHQ*HJHQVWDQGGDUDXIKLQGHQHU EHLP%HWUHWHQGHV6DORQV LQ EHLGHQ +lQGHQ YRU VLFK JHKDOWHQ KDWWH(VZDUHLQJURHV3lFNFKHQGUHL:HUVFKRNLQGHU+|KH XQG YLHU :HUVFKRN LQ GHU /lQJH GLFKW XQG IHVW LQ HLQH 1XPPHU GHU %|UVHQQDFKULFKWHQ HLQJHVFKODJHQ XQG VWUDII YRQ DOOHQ 6HLWHQ XQG ]ZHLPDO EHU .UHX] PLW HLQHP %LQGIDGHQ ]XVDPPHQJHEXQGHQ YRQ GHU $UW ZLH PDQ LKQ ]XP 8PVFKQUHQYRQ=XFNHUKWHQJHEUDXFKW'DQQVWDQGHURKQH
:HUVFKRN FP
HLQ :RUW ]X VDJHQ PLW KHUDEKlQJHQGHQ $UPHQ GD DOV HUZDUWHWHHUVHLQ8UWHLO6HLQ$Q]XJZDUJDQ]GHUVHOEHZLHDP 7DJHQXUKDWWHHUMHW]W HLQ JDQ] QHXHV VHLGHQHV 7XFK XP GHQ +DOVKHOOJUQPLW5RWIHUQHUWUXJHUHLQHJURH%ULOODQWQDGHO GLHHLQHQ.lIHUGDUVWHOOWHXQGDQGHPVFKPXW]LJHQ5LQJILQJHU GHU UHFKWHQ +DQG HLQHQ PDVVLYHQ %ULOODQWULQJ /HEHGHZ JLQJ QLFKWELVDQGHQ7LVFKKHUDQVRQGHUQEOLHELQHLQHU(QWIHUQXQJ YRQ GUHL RGHU YLHU 6FKULWWHQ VWHKHQ GLH EULJHQ ZLH VFKRQ JHVDJWVDPPHOWHQVLFKDOOPlKOLFKLP6DORQ.DWMDXQG3DVFKD GLH EHLGHQ 6WXEHQPlGFKHQ 1DVWDVMD )LOLSSRZQDV ZDUHQ DXFK KHUEHLJHODXIHQ XP KLQWHU GHQ HLQ ZHQLJ DXIJHKREHQHQ 3RUWLHUHQ KHUYRU PLW WLHIHP (UVWDXQHQ XQG JURHU $QJVW ]X]XVHKHQ ª:DV LVW GDV"© IUDJWH 1DVWDVMD )LOLSSRZQD LQGHP VLH LKUH %OLFNH XQYHUZDQGW XQG QHXJLHULJ DXI 5RJRVKLQ ULFKWHWH XQG PLW GHQ $XJHQ DXI GDV 3lFNFKHQ KLQZLHV ª+XQGHUWWDXVHQG5XEHO©DQWZRUWHWHGLHVHUIDVWIOVWHUQGª$K HUKDWDOVR:RUWJHKDOWHQ1DVRHLQ0HQVFK6HW]HQ6LHVLFK ELWWH GD DXI GLHVHQ 6WXKO LFK ZHUGH ,KQHQ QDFKKHU HWZDV VDJHQ :HQ KDEHQ 6LH GD EHL VLFK" 'DV LVW ZRKO GLH JDQ]H *HVHOOVFKDIW YRQ YRUKLQ" 1XQ VLH VROOHQ KHUHLQNRPPHQ XQG 3ODW]QHKPHQGRUWDXIGHP6RIDLVWQRFK3ODW]XQGGDLVWQRFK HLQ DQGHUHV 6RID 'D VLQG ]ZHL /HKQVHVVHO :DV KDEHQ GLH /HXWHQXU"6LHZROOHQZRKOQLFKW"© 0DQFKH ZDUHQ LQ GHU 7DW JDQ] YHUOHJHQ JHZRUGHQ ]RJHQ VLFK]XUFNXQGVHW]WHQVLFKLP1HEHQ]LPPHUKLQXPGRUW]X ZDUWHQPDQFKHDEHUEOLHEHQGDXQGQDKPHQDXIGLH(LQODGXQJ KLQ3ODW]DEHUP|JOLFKVWIHUQYRP7LVFKXQGP|JOLFKVWLQGHQ (FNHQ GLH HLQHQ ZQVFKWHQ LPPHU QRFK JHZLVVHUPDHQ ]X YHUVFKZLQGHQ GLH DQGHUQ DEHU JHZDQQHQ MH IHUQHU VLH VDHQ XP VR PHKU 0XW XQG ]ZDU PLW EHUUDVFKHQGHU *HVFKZLQGLJNHLW 5RJRVKLQ VHW]WH VLFK HEHQIDOOV DXI GHQ LKP DQJHZLHVHQHQ 6HVVHO EOLHE DEHU QLFKW ODQJH VLW]HQ HU VWDQG EDOG ZLHGHU DXI XQG VHW]WH VLFK GDQQ QLFKW PHKU KLQ $OOPlKOLFK EHJDQQ HU GLH *lVWH ]X XQWHUVFKHLGHQ XQG
GHXWOLFKHU]XVHKHQ$OVHU*DQMDHUEOLFNWHOlFKHOWHHUERVKDIW XQG IOVWHUWH YRU VLFK KLQ ª6LHK PDO DQ© 'HQ *HQHUDO XQG $IDQDVVLM ,ZDQRZLWVFK EHWUDFKWHWH HU RKQH 9HUOHJHQKHLW XQG VRJDU RKQH EHVRQGHUHV ,QWHUHVVH $EHU DOV HU QHEHQ 1DVWDVMD )LOLSSRZQD GHQ )UVWHQ EHPHUNWH YHUPRFKWH HU OlQJHUH =HLW QLFKWVHLQHQ%OLFNYRQLKPORV]XUHLHQHUZDUlXHUVWHUVWDXQW XQGDQVFKHLQHQGQLFKWLPVWDQGHVLFKGLHVHV=XVDPPHQWUHIIHQ ]X HUNOlUHQ 0DQ NRQQWH YHUPXWHQ GD HU VLFK ]HLWZHLOLJ LQ HLQHP =XVWDQGH ZLUNOLFKHU *HLVWHVYHUZLUUXQJ EHIDQG $EJHVHKHQ YRQ DOOHQ (UVFKWWHUXQJHQ GLH LKP GLHVHU 7DJ JHEUDFKW KDWWH KDWWH HU GLH JDQ]H YRUKHUJHKHQGH 1DFKW LP =XJH YHUEUDFKW XQG VFKRQ VHLW IDVW DFKWXQGYLHU]LJ 6WXQGHQ QLFKW JHVFKODIHQ ª'DV VLQG KXQGHUWWDXVHQG 5XEHO PHLQH +HUUVFKDIWHQ© VDJWH 1DVWDVMD )LOLSSRZQD LQGHP VLH VLFK PLW ILHEHUKDIWHU 8QJHGXOG ODXW DQ DOOH $QZHVHQGHQ ZDQGWH ªKLHU LQGLHVHPVFKPXW]LJHQ3lFNFKHQ+HXWHDP7DJHVFKULHHUZLH HLQ :DKQVLQQLJHU HU ZHUGH PLU DP $EHQG KXQGHUWWDXVHQG 5XEHOEULQJHQXQGGDKDEHLFKGHQQLPPHU DXILKQ JHZDUWHW (U KDW PLU QlPOLFK HLQ $QJHERW JHPDFKW HU ILQJ PLW DFKW]HKQWDXVHQG DQ GDQQ VSUDQJ HU SO|W]OLFK DXI YLHU]LJWDXVHQGXQGQXQVLQGKLHUKXQGHUWWDXVHQG(UKDW:RUW JHKDOWHQ 2 ZHK ZLH EOD HU DXVVLHKW 'DV SDVVLHUWH KHXWH DOOHV LQ *DQMDV :RKQXQJ LFK ZDU KLQJHNRPPHQ XP VHLQH 0DPD ]X EHVXFKHQ ]X PHLQHU NQIWLJHQ )DPLOLH ZDU LFK JHNRPPHQ XQG GD VFKULH PLFK VHLQH 6FKZHVWHU DQ ¾6FKDIIW GHQQ QLHPDQG GLHVHV VFKDPORVH :HLE KLQDXV"½ ±XQG LKUHP %UXGHU*DQMDVSLHVLHLQV*HVLFKW(LQHQHUJLVFKHV0lGFKHQ© ª1DVWDVMD)LOLSSRZQD©ULHIGHU*HQHUDOYRUZXUIVYROO (UEHJDQQGLH6DFKHHLQZHQLJ]XYHUVWHKHQZHQLJVWHQVDXI VHLQH $UW ª:DV KDEHQ 6LH GHQQ *HQHUDO" 'DV LVW ZRKO XQVFKLFNOLFKQLFKWZDKU":HQQLFKLP)UDQ]|VLVFKHQ7KHDWHU LQ PHLQHU /RJH ZLH HLQH XQEHUKUEDUH 7XJHQG DXV GHU %HOHWDJHJHVHVVHQXQGDOOHGLHLQGLHVHQIQI-DKUHQKLQWHUPLU KHU ZDUHQ PHQVFKHQVFKHX JHPLHGHQ XQG PLU GDV $XVVHKHQ
HLQHU VWRO]HQ 8QVFKXOG JHJHEHQ KDEH VR KDW PLFK ]X GLHVHP %HQHKPHQQXUPHLQH'XPPKHLWJHEUDFKW'DLVWQXQLQ,KUHU *HJHQZDUWGLHVHU0HQVFKQDFKGHQ IQI-DKUHQGHU 8QVFKXOG KHUJHNRPPHQ XQG KDW KXQGHUWWDXVHQG DXI GHQ 7LVFK JHOHJW XQG JHZL VWHKHQ VFKRQ GLH 7URLNDV GLHVHU /HXWH GD XQG ZDUWHQDXIPLFK$XIKXQGHUWWDXVHQG5XEHOKDWHUPLFKWD[LHUW *DQMDLFKVHKHGXELVWDXIPLFKLPPHUQRFKE|VH"+DVWGX PLFKGHQQZLUNOLFKLQGHLQH )DPLOLHHLQIKUHQ ZROOHQ" 0LFK 5RJRVKLQV(LJHQWXP:DVKDWGHU )UVWYRUKLQ JHVDJW"© ª,FK KDEHQLFKWJHVDJWGD6LH5RJRVKLQV(LJHQWXPVHLHQGDVVLQG 6LH DXFK QLFKW© VDJWH GHU )UVW PLW ]LWWHUQGHU 6WLPPH ª1DVWDVMD )LOLSSRZQD OD HV JHQXJ VHLQ 0WWHUFKHQ OD HV JHQXJ VHLQ 7lXEFKHQ© PLVFKWH VLFK 'DUMD $OH[HMHZQD HLQ GLHVLFKQLFKWOlQJHUEHKHUUVFKHQNRQQWHª:HQQVLHGLUDOOHVR ]XZLGHUJHZRUGHQVLQGZDVEUDXFKVWGXGLFKGHQQXPVLH]X NPPHUQ" 'X ZLUVW GRFK QLFKW HWZD PLW GLHVHP 0HQVFKHQ GDYRQJHKHQ ZROOHQ XQG ZHQQ HU GLU DXFK KXQGHUWWDXVHQG 5XEHO ELHWHW (V LVW MD ULFKWLJ KXQGHUWWDXVHQG 5XEHO GDV LVW VFKRQ HWZDV 1LPP GRFK HLQIDFK GLH KXQGHUWWDXVHQG 5XEHO XQGMDJHLKQZHJVRPXPDQHVPLWLKQHQPDFKHQ$FKLFK ZUGHVLHDQGHLQHU6WHOOHDOOHZDVVROOPDQVLFKPLWGHQHQ DXIKDOWHQ© 'DUMD $OH[HMHZQD ZDU RUGHQWOLFK ]RUQLJ JHZRUGHQ 6LH ZDU HLQH JXWH XQG VHKU HPSILQGVDPH )UDX ª6HL QLFKW lUJHUOLFK 'DUMD $OH[HMHZQD© HUZLGHUWH 1DVWDVMD )LOLSSRZQD OlFKHOQG ªLFKKDEHHVLKPMDQLFKWLP =RUQ JHVDJW+DEHLFKLKPGHQQ HLQHQ 9RUZXUI JHPDFKW" (V LVW PLU DXFK JDQ] XQEHJUHLIOLFK ZLHLFKKDEH DXIGHQGXPPHQ *HGDQNHQ NRPPHQ N|QQHQ LQ HLQH HKUHQKDIWH )DPLOLH KLQHLQ]XKHLUDWHQ ,FK KDEH VHLQH 0XWWHU JHVHKHQ XQG LKU GLH +DQG JHNW 8QG ZHQQ LFK GLFK YRUKLQYHUK|KQWKDEH*DQMDVRKDEHLFKGDVDEVLFKWOLFKJHWDQ XP ]XP OHW]WHQPDO ]X VHKHQ ZLH ZHLW GX ZRKO ]X JHKHQ LPVWDQGH ZlUHVW 1XQ GX KDVW PLFK LQ (UVWDXQHQ YHUVHW]W ZDKUKDIWLJ ,FK KDWWH YLHO HUZDUWHW DEHU GDV GHQQ GRFK QLFKW
.RQQWHVWGXGLFKGHQQZLUNOLFKGD]XYHUVWHKHQPLFK]XU)UDX ]XQHKPHQREZRKOGXZXWHVWGDGHUKLHUPLUHLQHQVROFKHQ 3HUOHQVFKPXFNJDQ]NXU]YRUGHLQHU+RFK]HLWVFKHQNWXQGLFK LKQDQQHKPH"8QG5RJRVKLQ"(UKDWMDLQGHLQHU:RKQXQJLQ *HJHQZDUW GHLQHU 0XWWHU XQG GHLQHU 6FKZHVWHU PLU HLQ $QJHERW JHPDFKW XQG GX ELVW GRFK WURW] DOOHGHP KLHUKHUJHNRPPHQXPGLFKXPPHLQH+DQG]XEHZHUEHQXQG KlWWHVW EHLQDK GHLQH 6FKZHVWHU PLWJHEUDFKW +DW 5RJRVKLQ GHQQZLUNOLFKUHFKWJHKDEWDOVHUYRQGLUVDJWHIUGUHL5XEHO ZUGHVW GX DXI DOOHQ YLHUHQ ELV ]XU :DVVLOLM,QVHO NULHFKHQ"© ª(UZLUGKLQNULHFKHQ©VDJWH5RJRVKLQSO|W]OLFKOHLVHDEHULP 7RQ IHVWHVWHU hEHU]HXJXQJ ª8QG ZHQQ GX QRFK QDKH GDUDQ Zl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lQJVWJHOHVHQKDEH:DVELVWGX IU HLQ VFKDPORVHU 0HQVFK ,FK ELQ MD VFKDPORV DEHU GX ELVW QRFK ZHLW lUJHU 9RQ GHP %OXPHQVSHQGHU GRUW ZLOO LFK JDU QLFKW UHGHQ © ª6LQG 6LH HV ZLUNOLFK VLQG 6LH HV ZLUNOLFK 1DVWDVMD )LOLSSRZQD"© ULHI GHU *HQHUDO XQG VFKOXJ LQ DXIULFKWLJHP 6FKPHU] GLH +lQGH ]XVDPPHQ ª6LH GLH 6LH VRQVWVR]DUWIKOHQGZDUHQXQGVRWDNWYROOUHGHWHQXQGQXQDXI HLQPDO :HOFKH 6SUDFKH ZHOFKH $XVGUFNH© ª,FK ELQ MHW]W EHWUXQNHQ *HQHUDO© HUZLGHUWH 1DVWDVMD )LOLSSRZQD ODFKHQG ªLFK ZLOO ILGHO VHLQ +HXWH LVW PHLQ 7DJ PHLQ )HVW XQG )HLHUWDJ DXI GHQ LFK VFKRQ ODQJH JHZDUWHW KDEH 'DUMD $OH[HMHZQD VLHKVW GX LKQ GLHVHQ %OXPHQVFKHQNHU GLHVHQ
PRQVLHXUDX[FDPHOLDV "'DVLW]WHUXQGODFKWXQVDXV©ª,FK ODFKHQLFKW1DVWDVMD)LOLSSRZQDLFKK|UHQXUPLWGHUJU|WHQ $XIPHUNVDPNHLW ]X© HQWJHJQHWH 7R]NLM PLW ZUGLJHU 5XKH ª:DUXPKDEHLFKLKQHLJHQWOLFK IQI YROOH -DKUH ODQJ JHTXlOW XQGQLFKWYRQPLUORVNRPPHQODVVHQ":DUHU GDV GHQQ ZHUW" (U NDQQ HEHQ QLFKW DQGHUV VHLQ DOV HU LVW (U ZLUG QRFK EHKDXSWHQ GD LFK LQ VHLQHU 6FKXOG VWHKH HU KDW PLFK MD HU]LHKHQODVVHQXQGPLFKZLH HLQH*UlILQ XQWHUKDOWHQ ZDV LVW GD IU *HOG GUDXIJHJDQJHQ XQG GDQQ KDW HU VFKRQ GRUW HLQHQ DQVWlQGLJHQ0DQQIUPLFKDXVJHVXFKWXQGQXQKLHUGLHVHQ* DQ MD 8QG VROOWHVW GX HV JODXEHQ LFK KDEH GLHVH IQI -DKUH QLFKW PLW LKP ]XVDPPHQ JHOHEW DEHU GDV *HOG YRQ LKP DQJHQRPPHQXQGLP5HFKWH]XVHLQJHPHLQW,FKZDUMDJDQ] ZLUULP.RSIJHZRUGHQ,FKKDQGHOWHQDFKGHLQHP*UXQGVDW] ¾1LPP GLH KXQGHUWWDXVHQG 5XEHO XQG MDJ GHQ *HEHU ZHJ ZHQQHUGLU]XZLGHULVW½'DHUPLU]XZLGHULVWVWLPPW,FK KlWWHPLFKDXFKVFKRQOlQJVWYHUKHLUDWHQN|QQHQXQGQLFKWQXU PLW*DQMDDEHUDXFKGDVZDUPLUVFKRQ]XZLGHU8QGZDUXP KDEH LFK PHLQH IQI -DKUH LQ GLHVHU ERVKDIWHQ 6WLPPXQJ YHUORUHQ$EHUREGX HVQXQJODXEVWRGHUQLFKWYRUYLHU-DKUHQ KDEH LFK PDQFKPDO GDUDQ JHGDFKW RE LFK QLFKW JDQ] HLQIDFK PHLQHQ$IDQDVVLM,ZDQRZLWVFKKHLUDWHQVROOWH'LHVHU*HGDQNH NDP PLU GDPDOV QXU DXV %RVKHLW ZDV JLQJ PLU GDPDOV QLFKW DOOHVGXUFKGHQ.RSIDEHULFKKlWWHLKQGD]XEULQJHQN|QQHQ ZLUNOLFK(UVHOEVWKDWHVPLUDQJHERWHQREGX HVQXQJODXEVW RGHU QLFKW (U PHLQWH HV MD QLFKW HKUOLFK DEHU HU LVW JDU ]X OVWHUQ XQG NDQQ VHLQH %HJLHUGHQ QLFKW XQWHUGUFNHQ $EHU GDQQEHUOHJWHLFKPLU*RWWVHL'DQNLVWHUHVGHQQZHUWGD LFKXPVHLQHWZLOOHQHLQHVROFKH6FKOHFKWLJNHLWEHJHKH"8QGHU ZXUGHPLUGDPDOVSO|W]OLFKVR]XZLGHUGDLFKVHLWGHPDXFK ZHQQ HU PLU VHOEVW VHLQH +DQG DQWUJH VLH DEOHKQHQ ZUGH 8QGJDQ]HIQI-DKUHKDEHLFKLQGLHVHU$UW JURJHWDQ 1HLQ GDV EHVWH LVW VFKRQ LFK JHKH DXI GLH 6WUDH ZR LFK MD DXFK
IU] .DPHOLHQKHUU
KLQJHK|UH (QWZHGHU ZLOO LFK PLW 5RJRVKLQ OXVWLJ OHEHQ RGHU JOHLFKPRUJHQ:lVFKHULQZHUGHQ'HQQ(LJHQWXPKDEHLFKMD NHLQHVLFKZHUIHDOOHVKLQGDVOHW]WH/lSSFKHQODVVHLFKKLHU XQGZHQQLFKJDUQLFKWVPHKUKDEHZHUQLPPWPLFKGDQQ]XU )UDX" )UDJ PDO *DQMD KLHU RE HU PLFK QHKPHQ ZUGH 1LFKW PDO )HUG\VFKWVFKHQNR ZUGH PLFK QHKPHQ © ª)HUG\VFKWVFKHQNR ZUGH 6LH YLHOOHLFKW QLFKW QHKPHQ 1DVWDVMD )LOLSSRZQD LFK ELQ HLQ RIIHQKHU]LJHU 0HQVFK© XQWHUEUDFKVLH)HUG\VFKWVFKHQNRª$EHUGDIUZUGHGHU)UVW 6LH QHKPHQ 6LH VLW]HQ GD XQG EHNODJHQ VLFK VHKHQ 6LH GRFK HLQPDOGHQ)UVWHQDQ,FKEHREDFKWHLKQVFKRQODQJH© 1DVWDVMD)LOLSSRZQDZDQGWHVLFKQHXJLHULJ]XP)UVWHQKLQ ª,VW GDV ZDKU"© IUDJWH VLH ª-D HV LVW ZDKU© IOVWHUWH GHU )UVWª6LHQHKPHQPLFKVRZLHLFKELQRKQHDOOHV"©ª-DGDV WXH LFK 1DVWDVMD )LOLSSRZQD © ª'D KDEHQ ZLU MD HLQH QHXH 7ROOKHLW©PXUPHOWHGHU*HQHUDOª'DVZDU]XHUZDUWHQ© 'HU )UVW VFKDXWH 1DVWDVMD )LOLSSRZQD GLH IRUWIXKU LKQ DQ]XVHKHQ WUDXULJ HUQVW XQG GXUFKGULQJHQG LQV *HVLFKW ª'D KDWVLFKDOVR QRFK HLQHU JHIXQGHQ© VDJWH VLH GDQQ LQGHP VLH VLFK ZLHGHU ]X 'DUMD $OH[HMHZQD ZDQGWH ª8QG HU WXW HV UHLQ DXV JXWHP +HU]HQ GDV ZHL LFK ,FK KDEH HLQHQ :RKOWlWHU JHIXQGHQhEULJHQVKDEHQGLH/HXWHYLHOOHLFKWUHFKWZHQQVLH YRQ LKP VDJHQ GD HU KP QD MD :RYRQ ZLUVW GX GHQQ OHEHQ ZHQQ GX VFKRQ VR YHUOLHEW ELVW GD GX HLQ )UVW 5RJRVKLQV *HOLHEWH QHKPHQ ZLOOVW"© ª,FK QHKPH 6LH DOV HKUEDUH )UDX 1DVWDVMD )LOLSSRZQD XQG QLFKW DOV 5RJRVKLQV *HOLHEWH© DQWZRUWHWH GHU )UVW ª,FK ELQ DOVR HLQH HKUEDUH )UDX"© ª-D© ª1XQ GDV KDVW GX ZRKO DXV 5RPDQHQ 'DV VLQG DOWPRGLVFKH 7RUKHLWHQ OLHEVWHU )UVW DEHU MHW]W LVW GLH :HOW NOJHU JHZRUGHQ XQG DOO GDV LVW MHW]W 8QVLQQ 8QG ZLH ZROOWHVW GX GHQQ KHLUDWHQ" 'X EUDXFKVW MD VHOEVW QRFK HLQH .LQGHUIUDX© 'HU )UVW VWDQG DXI XQG VDJWH PLW ]LWWHUQGHU VFKFKWHUQHU 6WLPPH DEHU ]XJOHLFK PLW GHU 0LHQH WLHIVWHU hEHU]HXJXQJ
ª,FKZHLQLFKWVYRQGHU:HOW1DVWDVMD)LOLSSRZQDLFKKDEH QLFKWVYRQGHU:HOWJHVHKHQGDULQKDEHQ6LHUHFKWDEHULFK LFKELQGHU$QVLFKWGD6LHPLUHLQH(KUHHUZHLVHQXQGQLFKW LFK,KQHQ,FKELQHLQ1LFKWVDEHU6LHKDEHQJHOLWWHQXQGVLQG DXVHLQHUVROFKHQ+|OOHUHLQKHUYRUJHJDQJHQXQGGDVLVWHWZDV *URHV :DUXP VFKlPHQ 6LH VLFK DOVR XQG ZROOHQ ]X 5RJRVKLQJHKHQ"'DVLVW)LHEHU6LHKDEHQ+HUUQ7R]NLMGLH IQIXQGVLHE]LJWDXVHQG 5XEHO ]XUFNJHJHEHQ XQG VDJHQ GD 6LH DXI DOOHV ZDV KLHU LVW YHU]LFKWHQ ZHUGHQ GHVVHQ ZlUH NHLQHU GHU KLHU $QZHVHQGHQ IlKLJ ,FK LFK OLHEH 6LH 1DVWDVMD )LOLSSRZQD ,FK VWHUEH IU 6LH ,FK ZHUGH QLFKW GXOGHQ GD MHPDQG EHU 6LH HLQ VFKOHFKWHV :RUW VDJW :HQQ ZLU DUP VHLQ ZHUGHQ VR ZHUGH LFK DUEHLWHQ 1DVWDVMD )LOLSSRZQD © %HL GHQ OHW]WHQ :RUWHQ K|UWH PDQ )HUG\VFKWVFKHQNR XQG /HEHGHZ NLFKHUQ XQG VHOEVW GHU *HQHUDO UlXVSHUWH VLFK VHKU PLYHUJQJW 3WL]\Q XQG 7R]NLM NRQQWHQVLFKQLFKWHQWKDOWHQ]XOlFKHOQEHKHUUVFKWHQVLFKDEHU QRFK 'LH EULJHQ ULVVHQ JHUDGH]X GHQ 0XQG DXI YRU 9HUZXQGHUXQJª$EHUYLHOOHLFKWZHUGHQZLUQLFKWDUPVHLQ VRQGHUQ VHKU UHLFK 1DVWDVMD )LOLSSRZQD© IXKU GHU )UVW LQ GHPVHOEHQEHVFKHLGHQHQ7RQIRUWª,FKZHLHVEULJHQVQLFKW EHVWLPPW XQG EHGDXUH GD LFK GHQ JDQ]HQ 7DJ EHU ELV MHW]W GDUEHU QLFKWV KDEH HUIDKUHQ N|QQHQ DEHU LFK KDEH LQ GHU 6FKZHL] HLQHQ %ULHI DXV 0RVNDX YRQ HLQHP +HUUQ 6DODVNLQ HUKDOWHQ XQG HU WHLOW PLU PLW LFK N|QQH HLQH VHKU JURH (UEVFKDIWDQWUHWHQ+LHULVWGHU%ULHI© 'HU)UVW]RJZLUNOLFKHLQHQ%ULHIDXVGHU7DVFKHª5HGHWHU GHQQ LUUH"© PXUPHOWH GHU *HQHUDO ª(V LVW MD KLHU GDV UHLQH 1DUUHQKDXV© )U HLQHQ $XJHQEOLFN WUDW 6WLOOVFKZHLJHQ HLQ ª6LHVDJWHQMDZRKO)UVWGHU%ULHIDQ6LHVHLYRQ6DODVNLQ"© IUDJWH 3WL]\Q ª'DV LVW HLQ LQ VHLQHQ .UHLVHQ VHKU EHNDQQWHU 0DQQ HLQ EHNDQQWHU 5HFKWVDQZDOW XQG ZHQQ HU ,KQHQ GDV ZLUNOLFK PLWJHWHLOW KDW VR N|QQHQ 6LH VLFK YROOVWlQGLJ GDUDXI YHUODVVHQ=XP*OFNNHQQHLFKVHLQH+DQGVFKULIWGDLFKHUVW
NU]OLFKPLWLKPJHVFKlIWOLFK]XWXQKDWWH:HQQ6LHPLUGHQ %ULHI]XU(LQVLFKWJHEHQZROOWHQVRN|QQWHLFK,KQHQYLHOOHLFKW HWZDVGDUEHUVDJHQ© 0LW ]LWWHUQGHU +DQG UHLFKWH LKP GHU )UVW VFKZHLJHQG GHQ %ULHIKLQ ª-DZDVKDWGHQQGDV]X EHGHXWHQ" :DV KDW GDV ]X EHGHXWHQ"© ULHI GHU *HQHUDO HUVWDXQW XQG EOLFNWH DOOH ZLH HLQ +DOELUUHUDQª+DWHUZLUNOLFKHLQH(UEVFKDIWJHPDFKW"© $OOH ULFKWHWHQ LKUH %OLFNH DXI 3WL]\Q GHU GHQ %ULHI ODV 'LH DOOJHPHLQH 1HXJLHU KDWWH HLQHQ QHXHQ XQG DXHURUGHQWOLFKHQ $QVWR HUKDOWHQ )HUG\VFKWVFKHQNR ZDU DXHUVWDQGH DXI VHLQHP 3ODW]H VLW]HQ ]X EOHLEHQ 5RJRVKLQ PDFKWH HLQ YHUVWlQGQLVORVHV IXUFKWEDU EHXQUXKLJWHV *HVLFKW XQG VDK DEZHFKVHOQG QDFK GHP )UVWHQ XQG QDFK 3WL]\Q KLQ 'DUMD $OH[HMHZQD VD LQ JHVSDQQWHU (UZDUWXQJ ZLH DXI 1DGHOQ 6HOEVW /HEHGHZ YHUPRFKWH VLFK QLFKW ]X EHKHUUVFKHQ HU NDP DXV VHLQHU (FNH KHUYRU XQG EOLFNWH VLFK WLHI KLQDEEHXJHQG EHU 3WL]\QV 6FKXOWHU LQ GHQ %ULHI PLW GHU 0LHQH HLQHV 0HQVFKHQGHUGDUDXIJHIDWLVWLPQlFKVWHQ$XJHQEOLFNHLQH 2KUIHLJH]XHUKDOWHQ
9, ª'LH 6DFKH KDW LKUH 5LFKWLJNHLW© HUNOlUWH 3WL]\Q HQGOLFK LQGHP HU GHQ %ULHI ZLHGHU ]XVDPPHQIDOWHWH XQG GHP )UVWHQ ]XUFNJDE ª6LH ZHUGHQ RKQH DOOH 8PVWlQGH DXI *UXQG GHV XQDQIHFKWEDUHQ7HVWDPHQWV,KUHU7DQWHHLQVHKUEHWUlFKWOLFKHV .DSLWDO HUKDOWHQ© ª(V LVW XQP|JOLFK© ULHI GHU *HQHUDO XQZLOONUOLGE $OOH VSHUUWHQ GHQ 0XQG DXI 6LFK YRU]XJVZHLVH DQ ,ZDQ
)MRGRURZLWVFK ZHQGHQG VHW]WH 3WL]\Q GLH 6DFKH IROJHQGHUPDHQDXVHLQDQGHU9RUIQI0RQDWHQVHLHLQH7DQWH GHV)UVWHQJHVWRUEHQGLHHUQLHSHUV|QOLFKJHNDQQWKDEHHLQH lOWHUH 6FKZHVWHU VHLQHU 0XWWHU GLH 7RFKWHU GHV 0RVNDXHU .DXIPDQQV GULWWHU *LOGH 3DSXVFKLQ GHU %DQNURWW JHPDFKW KDEHXQGLQJU|WHU $UPXWJHVWRUEHQVHL$EHUGHUJOHLFKIDOOV XQOlQJVW YHUVWRUEHQH lOWHUH %UXGHU GLHVHV 3DSXVFKLQ VHL HLQ EHNDQQWHUUHLFKHU.DXIPDQQJHZHVHQ9RUHLQHP-DKUHVHLHQ LKP IDVW LQ HLQ XQG GHPVHOEHQ 0RQDW VHLQH EHLGHQ HLQ]LJHQ 6|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lWWHQ ZHGHU GHU )UVW QRFK GHU $U]W EHL GHP HU LQ GHU 6FKZHL] JHZRKQW KDEH GLH DPWOLFKH %HQDFKULFKWLJXQJ DEZDUWHQ RGHU (UNXQGLJXQJHQ HLQ]LHKHQ ZROOHQ VRQGHUQ GHU )UVWKDEHVLFKHQWVFKORVVHQPLW6DODVNLQV%ULHILQGHU7DVFKH VHOEVW QDFK 5XODQG ]XUFN]XNHKUHQ ª,FK NDQQ ,KQHQ QXU VDJHQ©VFKOR3WL]\QVLFKDQGHQ)UVWHQZHQGHQGªGDDOOHV GDV MHGHQIDOOV ULFKWLJ XQG XQDQJUHLIEDU LVW XQG GD 6LH DOOHV ZDV ,KQHQ 6DODVNLQ EHU GLH 8QDQIHFKWEDUNHLW XQG *HVHW]OLFKNHLW ,KUHU $QVSUFKH VFKUHLEW VR DQVHKHQ N|QQHQ DOV KlWWHQ 6LH EHUHLWV GDV EDUH *HOG LQ GHU 7DVFKH ,FK JUDWXOLHUH ,KQHQ )UVW 9LHOOHLFKW HUKDOWHQ 6LH DQGHUWKDOE 0LOOLRQHQ P|JOLFKHUZHLVH DXFK QRFK PHKU GHQQ 3DSXVFKLQ ZDU HLQ VHKU UHLFKHU .DXIPDQQ© ª(V OHEH GHU OHW]WH )UVW 0\VFKNLQ© EUOOWH )HUG\VFKWVFKHQNR ª+XUUD© VFKULH /HEHGHZ PLW VHLQHU YRP 7ULQNHQ KHLVHUHQ 6WLPPH ª8QG LFK
KDEHGHPDUPHQ6FKOXFNHUKHXWHQRFKIQIXQG]ZDQ]LJ5XEHO JHOLHKHQKDKDKD'DVLVWMDGLHUHLQH=DXEHUYRUVWHOOXQJ©ULHI GHU *HQHUDO GHU YRU (UVWDXQHQ ZLH EHWlXEW ZDU ª1XQ LFK JUDWXOLHUH LFK JUDWXOLHUH© (U HUKRE VLFK YRQ VHLQHP 3ODW] JLQJ]XGHP)UVWHQKLQXQGXPDUPWHLKQ1DFKLKPVWDQGHQ DXFK GLH DQGHUQ DXI XQG GUlQJWHQ VLFK HEHQIDOOV ]X GHP )UVWHQ KHUDQ 6RJDU GLHMHQLJHQ GLH VLFK KLQWHU GLH 3RUWLHUH ]XUFNJH]RJHQKDWWHQHUVFKLHQHQZLHGHULP6DORQ(LQEXQWHV 6WLPPHQJHW|VH HUKRE VLFK DOOHUOHL $XVUXIH HUVFKROOHQ PDQ ULHIVRJDUQDFK&KDPSDJQHU DOOHVGUlQJWHXQGVWLHVLFK DOOH ZDUHQ LQ JHVFKlIWLJHU %HZHJXQJ )U HLQHQ $XJHQEOLFN KDWWH PDQ 1DVWDVMD )LOLSSRZQD IDVW YHUJHVVHQ XQG GD VLH GRFK HLJHQWOLFKEHLLKUHU$EHQGJHVHOOVFKDIWGHU*DVWJHEHUZDU$EHU DOOPlKOLFKZXUGHHVDOOHQIDVWJOHLFK]HLWLJZLHGHUEHZXWGD GHU )UVW LKU VRHEHQ HLQHQ +HLUDWVDQWUDJ JHPDFKW KDWWH 'LH 6DFKH HUVFKLHQ GDGXUFK QRFK ZHLW VHOWVDPHU XQG XQJHZ|KQOLFKHU DOV YRUKHU 7R]NLM ]XFNWH LQ K|FKVWHP (UVWDXQHQ GLH 6FKXOWHUQ HU ZDU IDVW GHU HLQ]LJH GHU VLW]HQ JHEOLHEHQ ZDU GHU JDQ]H EULJH 6FKZDUP GUlQJWH VLFK XQRUGHQWOLFK XP GHQ 7LVFK $OOH EHKDXSWHWHQ VSlWHU YRQ GLHVHP$XJHQEOLFNDQKlWWH1DVWDVMD)LOLSSRZQDGHQ9HUVWDQG YHUORUHQ6LHVDLPPHUQRFKGDXQGEHWUDFKWHWHHLQH=HLWODQJ DOOHPLWHLQHPVRQGHUEDUHQYHUZXQGHUWHQ%OLFNZLHZHQQVLH GDV DOOHV QLFKW EHJULIIH XQG VLFK 0KH JlEH HLQH NODUH 9RUVWHOOXQJ ]X JHZLQQHQ 'DQQ ZDQGWH VLH VLFK DXI HLQPDO ]XP )UVWHQ KLQ XQG VDK LKQ PLW ILQVWHU ]XVDPPHQJH]RJHQHQ %UDXHQIRUVFKHQGDQLQGHVGDXHUWHGDVQXUHLQHQ$XJHQEOLFN YLHOOHLFKW KDWWH HV LKU SO|W]OLFK JHVFKLHQHQ GD DOOHV QXU 6FKHU] XQG 6SRWW VHL $EHU GLH 0LHQH GHV )UVWHQ PXWH VLH YRP *HJHQWHLO EHU]HXJHQ 6LH ZXUGH QDFKGHQNOLFK GDQQ OlFKHOWH VLH ZLHGHU DOV ZWH VLH VHOEVW QLFKW UHFKW ZRUEHU HLJHQWOLFKª$OVRELQLFKZLUNOLFKHLQH)UVWLQ©IOVWHUWHVLH JHZLVVHUPDHQ VS|WWLVFK YRU VLFK KLQ XQG ODFKWH DOV VLH ]XIlOOLJ QDFK 'DUMD $OH[HMHZQD KLQEOLFNWH ODXW DXI ª(LQH
XQHUZDUWHWH/|VXQJ'DVKlWWHLFKQLFKWHUZDUWHW$EHU ZDUXP VWHKHQ 6LH GHQQ PHLQH +HUUHQ" %LWWH VHW]HQ 6LH VLFK GRFK XQG JUDWXOLHUHQ 6LH PLU XQG GHP )UVWHQ (V KDWWH MD ZRKO MHPDQG &KDPSDJQHU JHZQVFKW )HUG\VFKWVFKHQNR JHKHQ 6LH GRFK HLQPDO KLQ XQG EHVWHOOHQ 6LH ZHOFKHQ .DWMD 3DVFKD© VDJWH VLH ]X LKUHQ 'LHQVWPlGFKHQ GLH VLH LQ GLHVHP $XJHQEOLFN DQ GHU 7U HUEOLFNWH ªNRPPW KHU LFK ZHUGH KHLUDWHQKDEWLKUHVJHK|UW"'HQ)UVWHQHUEHVLW]WDQGHUWKDOE 0LOOLRQHQ HU LVW HLQ )UVW 0\VFKNLQ XQG QLPPW PLFK ]XU )UDX© ª*RWWJHEHGD]XVHLQHQ6HJHQ0WWHUFKHQHVLVWDXFK KRKH=HLW'DVGDUIVWGXGLUQLFKWHQWJHKHQODVVHQ©ULHI'DUMD $OH[HMHZQD GLH GXUFK GLHVH 9RUJlQJH WLHI HUVFKWWHUW ZDU ª$EHUVHW]HQ6LHVLFKGRFKQHEHQPLFK)UVW© IXKU1DVWDVMD )LOLSSRZQDIRUWª6RLVW¶VUHFKWXQGGDNRPPWDXFKGHU:HLQ 1XQ JUDWXOLHUHQ 6LH PHLQH +HUUVFKDIWHQ© ª+XUUD© VFKULHQ YLHOH 6WLPPHQ 9LHOH GUlQJWHQ VLFK ]XP :HLQ KLQ GDUXQWHU IDVW DOOH %HJOHLWHU 5RJRVKLQV $EHU REJOHLFK VLH EHUHLWZLOOLJ VFKULHQ VR KDWWHQ GRFK YLHOH YRQ LKQHQ WURW] GHU 6HOWVDPNHLW GHU 8PVWlQGH XQG GHU 8PJHEXQJ GLH (PSILQGXQJ GD VLFK HLQ 6]HQHQZHFKVHO YROO]RJ $QGHUH ZDUHQ YHUOHJHQ XQG ZDUWHWHQ PLWUDXLVFK DE 9LHOH DEHU IOVWHUWHQ HLQDQGHU ]X HLJHQWOLFK VHL DQ GHU *HVFKLFKWH QLFKWV 8QJHZ|KQOLFKHV ZDV KHLUDWHWHQGLH)UVWHQQLFKWRIWIU)UDXHQPDQFKPDOQDKPHQ VLH VRJDU :HLEHU DXV GHQ =LJHXQHUODJHUQ 5RJRVKLQ VWDQG GD XQGVDKDOOHGLHVH9RUJlQJHPLWDQVHLQ*HVLFKWZDU]XHLQHP VWDUUHQ YHUVWlQGQLVORVHQ /lFKHOQ YHU]RJHQ ª)UVW PHLQ %HVWHU VR NRPP GRFK ]X GLU© IOVWHUWH GHU *HQHUDO JDQ] HQWVHW]W LQGHP HU YRQ GHU 6HLWH DQ LKQ KHUDQWUDW XQG LKQ DP bUPHO ]XSIWH 1DVWDVMD )LOLSSRZQD EHPHUNWH HV XQG ODFKWH ª1HLQ*HQHUDO ,FKELQMHW]WVHOEVWHLQH)UVWLQKDEHQ6LH HV JHK|UW GHU )UVW ZLUG PLFK YRQ QLHPDQG EHOHLGLJHQ ODVVHQ $IDQDVVLM ,ZDQRZLWVFK JUDWXOLHUHQ 6LH PLU GRFK ,FK ZHUGH MHW]W EHUDOO QHEHQ ,KUHU *HPDKOLQ VLW]HQ GUIHQ PHLQHQ 6LH QLFKW GD HV YRUWHLOKDIW LVW HLQHQ VROFKHQ 0DQQ ]X KDEHQ"
$QGHUWKDOE0LOOLRQHQXQGGD]XQRFK)UVWXQGEHUGLHVQRFK ZLHHVKHLWHLQ,GLRWZDVZLOOPDQPHKU"-HW]WIlQJWHUVWGDV ZDKUH/HEHQDQ'XELVW]XVSlWJHNRPPHQ5RJRVKLQ1LPP GHLQ 3lFNFKHQ ZLHGHU ZHJ LFK KHLUDWH GHQ )UVWHQ XQG ELQ VHOEVWUHLFKHUDOVGX© $EHUMHW]WKDWWH5RJRVKLQHQGOLFKEHJULIIHQXPZDVHVVLFK KDQGHOWH(LQXQVlJOLFKHV/HLGSUlJWHVLFKDXIVHLQHP*HVLFKW DXV(UVFKOXJGLH+lQGH]XVDPPHQXQGHLQ6W|KQHQHQWUDQJ VLFK VHLQHU %UXVW ª7ULWW ]XUFN© VFKULH HU GHP )UVWHQ ]X 5LQJVXP ZXUGH JHODFKW ª(U VROO ZRKO ]X GHLQHQ *XQVWHQ ]XUFNWUHWHQ"©ILHO'DUMD$OH[HMHZQDWULXPSKLHUHQGHLQª6HKW GRFKZLHHUGDV*HOGDXIGHQ7LVFKJHZRUIHQKDWGHU%DXHU 'HU )UVW ZLUG VLH ]XU )UDX QHKPHQ GX DEHU ZDUVW ]X XQVLWWOLFKHQ=ZHFNHQKHUJHNRPPHQ©ª,FKQHKPHVLHDXFK]XU )UDX6RIRUWQHKPHLFKVLH]XU)UDXDXJHQEOLFNOLFK$OOHVZLOO LFK KLQJHEHQ © ª6HKW GRFK EHWUXQNHQ NRPPW GHU 0HQVFK DXVGHU6FKHQNHKLHUKHU'DYRQMDJHQVROOWHPDQGLFK©VFKDOW 'DUMD$OH[HMHZQDHPS|UWZHLWHU 'DV*HOlFKWHUZXUGHQRFKVWlUNHUª+|UVWGX)UVW©ZDQGWH VLFK1DVWDVMD )LOLSSRZQDDQGLHVHQ ªZDV GLHVHU %DXHU GHLQHU %UDXW IU HLQ $QJHERW PDFKW"© ª(U LVW EHWUXQNHQ© HUZLGHUWH GHU)UVWªHUOLHEW6LHVHKU©ª:LUVWGXGLFKDXFKVSlWHUQLFKW VFKlPHQ GD GHLQH %UDXW EHLQDK PLW 5RJRVKLQ ZHJJHIDKUHQ ZlUH"© ª6LH ILHEHUWHQ DXFK MHW]W ILHEHUQ 6LH XQG UHGHQ LUUH© ª8QG ZLUVW GX GLFK QLFKW VFKlPHQ ZHQQ GLH /HXWH VSlWHU ]X GLU VDJHQ ZHUGHQ GD GHLQH )UDX IUKHU 7R]NLMV *HOLHEWH JHZHVHQLVW"© ª1HLQ LFK ZHUGH PLFK QLFKW VFKlPHQ 6LH ZDUHQ QLFKW DXV HLJHQHP :LOOHQ EHL 7R]NLM© ª8QG ZLUVW GX PLU QLH HLQHQ 9RUZXUIGHVZHJHQPDFKHQ"©ª1HLQGDVZHUGHLFKQLFKWWXQ© ª1XQ VLHK GLFK YRU IU GDV JDQ]H /HEHQ NDQQ PDQ QLFKW JDUDQWLHUHQ© ª1DVWDVMD )LOLSSRZQD© YHUVHW]WH GHU )UVW OHLVH XQG PLWOHLGLJ ªLFK KDEH ,KQHQ YRUKLQ JHVDJW GD LFK ,KU -DZRUW DOV HLQH (KUH IU PLFK DQVHKH XQG GD 6LH PLU GLHVH
(KUHHUZHLVHQQLFKWLFK,KQHQ6LHKDEHQGD]XJHOlFKHOWXQG LFK KDEH JHK|UW GD DXFK XP XQV KHUXP JHODFKW ZXUGH ,FK KDEH PLFK YLHOOHLFKW VHKU OlFKHUOLFK DXVJHGUFNW XQG ELQ YLHOOHLFKWDXFKVHOEVWGDEHLOlFKHUOLFKJHZHVHQDEHUHVLVWPLU LPPHU VR YRUJHNRPPHQ DOV RE LFK DOV RE LFK YHUVWQGH ZRULQ GLH (KUH EHVWHKW XQG LFK ELQ EHU]HXJW GD LFK GLH :DKUKHLW JHVDJW KDEH 6LH ZROOWHQ VLFK VRHEHQ ]XJUXQGH ULFKWHQ VLFK XQZLHGHUEULQJOLFK ]XJUXQGH ULFKWHQ GHQQ 6LH ZUGHQVLFKGDVVSlWHUQLHYHU]HLKHQREZRKO6LHNHLQH6FKXOG WULIIW(VLVWXQP|JOLFKGD,KU/HEHQVFKRQ JlQ]OLFK]HUVW|UW VHLQVROOWH:DVKDWHVGHQQIUHLQH%HGHXWXQJGD5RJRVKLQ ]X,KQHQJHNRPPHQLVWXQGGD *DZULOD$UGDOLRQRZLWVFK6LH KDW EHWUJHQ ZROOHQ" :DUXP VSUHFKHQ 6LH EHVWlQGLJ GDYRQ" 'HVVHQZDV6LHJHWDQKDEHQVLQGQLFKWYLHOH0HQVFKHQIlKLJ GDV ZLHGHUKROH LFK ,KQHQ XQG ZDV ,KUHQ (QWVFKOX PLW 5RJRVKLQ ZHJ]XIDKUHQ DQODQJW VR KDEHQ 6LH LKQ LQ HLQHP $QIDOOYRQ.UDQNKHLWJHIDW,QHLQHPVROFKHQ$QIDOOEHILQGHQ 6LHVLFKDXFKMHW]WXQG6LHWlWHQDPEHVWHQ]X%HWW]XJHKHQ 6LH ZUGHQ VFKRQ PRUJHQ :lVFKHULQ ZHUGHQ XQG QLFKW EHL 5RJRVKLQ EOHLEHQ 6LH VLQG VWRO] 1DVWDVMD )LOLSSRZQD DEHU YLHOOHLFKW VLQG 6LH VFKRQ LQ HLQHP VROFKHQ 0DH XQJOFNOLFK GD 6LH VLFK ZLUNOLFK IU VFKXOGLJ KDOWHQ 6LH EHGUIHQ YLHOHU 3IOHJH 1DVWDVMD )LOLSSRZQD XQG LFK ZHUGH 6LH SIOHJHQ ,FK KDEHKHXWHYRUPLWWDJ,KU%LOGJHVHKHQXQGHVNDPPLUYRUDOV HUNDQQWHLFKHLQYHUWUDXWHV*HVLFKWZLHGHU,FKKDWWHVRIRUWHLQH (PSILQGXQJDOVULHIHQ6LHPLFK ,FKLFKZHUGH6LHPHLQ JDQ]HV /HEHQ ODQJ DFKWHQ 1DVWDVMD )LOLSSRZQD© VFKOR GHU )UVWXQGHUU|WHWHDOVNlPHHU DXIHLQPDO]XU %HVLQQXQJ XQG PHUNWHYRUZHOFKHQ/HXWHQHUGDVVDJWH 3WL]\QKLHOWVFKDPKDIWGHQ.RSIJHVHQNWXQGELOGHWHDXIGHQ )XERGHQ7R]NLMGDFKWHLPVWLOOHQ¾(ULVWHLQ,GLRWZHLDEHU LQVWLQNWLY GD PDQ GXUFK 6FKPHLFKHOHL DP HKHVWHQ ]XP =LHO NRPPW½ 'HU )UVW EHPHUNWH DXFK *DQMDV IXQNHOQGHQ %OLFN DXV GHU (FNH KHU PLW GHP GLHVHU LKQ I|UPOLFK YHUEUHQQHQ ]X
ZROOHQ VFKLHQ ª1HLQ LVW GDV HLQ JXWHU 0HQVFK© ULHI 'DUMD $OH[HMHZQD JDQ] JHUKUW ª(LQ JHELOGHWHU 0HQVFK DEHU HLQ YHUORUHQHU0HQVFK©IOVWHUWHGHU*HQHUDOKDOEODXW 7R]NLM QDKP VHLQHQ +XW XQG VFKLFNWH VLFK DQ DXI]XVWHKHQ XP VWLOO ]X YHUVFKZLQGHQ (U XQG GHU *HQHUDO ZHFKVHOWHQ %OLFNH PLWHLQDQGHU XP ]XVDPPHQ IRUW]XJHKHQ ª,FK GDQNH GLU)UVWVRKDWELVKHUQRFKQLHMHPDQGPLWPLUJHVSURFKHQ© VDJWH 1DVWDVMD )LOLSSRZQD ª0DQ KDW PLFK LPPHU NDXIHQ ZROOHQDEHU]XU)UDXKDWPLFKQRFKNHLQDQVWlQGLJHU0HQVFK QHKPHQP|JHQ+DEHQ6LHHV JHK|UW$IDQDVVLM ,ZDQRZLWVFK" :LHGHQNHQ6LHEHUGDVZDVGHU)UVWJHVDJWKDW"6LHZHUGHQ ZRKO PHLQHQ HV VHL EHLQDKH XQVFKLFNOLFK 5RJRVKLQ ZDUWH GX QRFK PLW GHP )RUWJHKHQ $EHU LFK VHKH GX ZLOOVW MD DXFK QRFK JDU QLFKW ZHJ 9LHOOHLFKW NRPPH LFK GRFK QRFK PLW GLU PLW :RKLQ ZROOWHVW GX PLFK GHQQ EULQJHQ"© ª1DFK -HNDWHULQKRI UDSSRUWLHUWH /HEHGHZ DXV VHLQHU (FNH ZlKUHQG 5RJRVKLQQXU]XVDPPHQIXKUXQGGLH$XJHQDXIULDOVJODXEWH HU IDOVFK JHK|UW ]X KDEHQ (U ZDU JDQ] QLHGHUJHGUFNW DOV KlWWH HU HLQHQ IXUFKWEDUHQ 6FKODJ EHU GHQ .RSI HUKDOWHQ ª$EHU ZDV UHGHVW GX GHQQ ZDV UHGHVW GX GHQQ 0WWHUFKHQ" 'X OHLGHVW ZLUNOLFK DQ $QIlOOHQ +DVW GX GHQQ JDQ] GHQ 9HUVWDQGYHUORUHQ"©ULHI'DUMD$OH[HMHZQDHUVFKURFNHQª+DVW GXHVGHQQLP(UQVWJHJODXEW"©HUZLGHUWH1DVWDVMD)LOLSSRZQD ODFKHQGXQGVSUDQJYRP6RIDDXIª6ROOWHLFKGHQQHLQVROFKHV .LQG]XJUXQGHULFKWHQ"'DZUGHLFKMDJHUDGHVRKDQGHOQZLH $IDQDVVLM ,ZDQRZLWVFK GDV LVW VR HLQ .LQGHUIUHXQG :LU ZROOHQ IDKUHQ 5RJRVKLQ +DOW GHLQ 3lFNFKHQ EHUHLW 'D GX PLFK KHLUDWHQ ZLOOVW PDFKW JDU QLFKWV GDV *HOG JLE PLU DEHU WURW]GHP ,FK QHKPH GLFK MHW]W YLHOOHLFKW QRFK JDU QLFKW +DWWHVW GX JHGDFKW ZHQQ GX PLFK KHLUDWHVW ZUGHVW GX GDV 3lFNFKHQ EHKDOWHQ N|QQHQ" 'XPPHV =HXJ ,FK NHQQH NHLQH 6FKDP ,FK ELQ 7R]NLMV .RQNXELQH JHZHVHQ )UVW ZHQ GX MHW]WQ|WLJKDVWGDVLVW$JODMD-HSDQWVFKLQDXQGQLFKW1DVWDVMD )LOLSSRZQDVRQVWNRPPWHVQRFKGDKLQGD)HUG\VFKWVFKHQNR
PLW )LQJHUQ DXI GLFK ZHLVW 'X IUFKWHVW GLFK QLFKW DEHU LFK ZUGH PLFK IUFKWHQ GD LFK GLFK ]XJUXQGH ULFKWH XQG GX HV PLU QDFKKHU YRUZLUIVW 8QG ZHQQ GX HUNOlUVW LFK HUZLHVH GLU HLQH (KUH VR ZHL GDPLW 7R]NLM %HVFKHLG 'X DEHU *DQMD KDVW $JODMD -HSDQWVFKLQD YHUSDW ZHLW GX GDV ZRKO" +lWWHVW GXQLFKWPLWLKUHLQ*HVFKlIWPDFKHQZROOHQVRKlWWHVLHGLFK EHVWLPPW JHQRPPHQ -D VR VHLG LKU 0lQQHU DOOH DEHU PDQ PX VLFK IU HLQV YRQ EHLGHQ HQWVFKHLGHQ RE PDQ PLW XQDQVWlQGLJHQ RGHU DQVWlQGLJHQ )UDXHQ ]X WXQ KDEHQ ZLOO 6RQVW HQWVWHKW XQIHKOEDU 9HUZLUUXQJ 6HKW PDO GHU *HQHUDO VWDUUW PLFK PLW RIIHQHP 0XQG DQ © ª'DV LVW MD GDV UHLQH 6RGRP GDV UHLQH 6RGRP© ZLHGHUKROWH GHU *HQHUDO DFKVHO]XFNHQG $XFK HU VWDQG MHW]W YRP 6RID DXI DOOH ZDUHQ ZLHGHU DXI GHQ %HLQHQ 1DVWDVMD )LOLSSRZQD VFKLHQ VLFK LQ HLQHP=XVWDQGGHU5DVHUHL]XEHILQGHQ ª,VW HV GHQQ P|JOLFK"© VW|KQWH GHU )UVW KlQGHUULQJHQG ª'DVKDWWHVWGXZRKOQLFKWHUZDUWHW",FKEHVLW]HYLHOOHLFKWDXFK VHOEVWPHLQHQ6WRO]ZHQQLFKDXFKHLQVFKDPORVHV:HLEELQ 'X KDVW PLFK YRUKLQ HLQH YROONRPPHQH )UDX JHQDQQW HLQH VFK|QH9ROONRPPHQKHLWGLHDXVODXWHU3UDKOHUHLZHLOVLHHLQH 0LOOLRQXQGHLQH)UVWHQNURQHLQGHQ6WDXEJHWUHWHQKDWLQGLH 6SHOXQNH JHKW :LH NDQQ LFK XQWHU VROFKHQ 8PVWlQGHQ HLQH SDVVHQGH )UDX IUGLFKVHLQ" $IDQDVVLM ,ZDQRZLWVFK LFK KDEH WDWVlFKOLFK HLQH 0LOOLRQ ]XP )HQVWHU KLQDXVJHZRUIHQ :LH KDEHQ 6LH QXU GHQNHQ N|QQHQ LFK ZUGH HV IU HLQ *OFN KDOWHQ *DQMD XQG ,KUH IQIXQGVLHE]LJWDXVHQG 5XEHO ]X KHLUDWHQ %HKDOWHGHLQH IQIXQGVLHE]LJWDXVHQG5XEHOIUGLFK $IDQDVVLM ,ZDQRZLWVFK GX ELVW QLFKW HLQPDO DXI KXQGHUWWDXVHQGJHJDQJHQ5RJRVKLQKDWGLFKEHUERWHQ XQG *DQMD ZHUGH LFK VHOEVW ]X WU|VWHQ ZLVVHQ HV LVW PLU GD HLQ *HGDQNH JHNRPPHQ -HW]W DEHU ZLOO LFK PLFK DPVLHUHQ LFK ELQ MD HLQH 6WUDHQGLUQH ,FK KDEH ]HKQ -DKUH ODQJ LP *HIlQJQLVJHVHVVHQMHW]WNRPPWIUPLFKGLH=HLWGHV*OFNV 1XQ ZLH VWHKW¶V 5RJRVKLQ" 0DFK GLFK IHUWLJ ZLU ZROOHQ
IDKUHQ© ª:LU ZROOHQ IDKUHQ© EUOOWH 5RJRVKLQ IDVW UDVHQG YRU)UHXGHª+HGDLKU:HLQKHU2KDFK© ª6RUJHQXUIU :HLQLFKZHUGHWULQNHQ:LUGDXFK0XVLNGDVHLQ"©ª*HZL JHZL.RPPLKUQLFKW]XQDK©VFKULH5RJRVKLQZWHQGDOV HUVDKGD'DUMD$OH[HMHZQDVLFK1DVWDVMD)LOLSSRZQDQlKHUQ ZROOWH ª6LH JHK|UW PLU $OOHV JHK|UW PLU 6LH LVW PHLQH .|QLJLQ,FKKDEHHVHUUHLFKW© (U NRQQWH YRU )UHXGH NDXP DWPHQ HU JLQJ XP 1DVWDVMD )LOLSSRZQD KHUXP XQG VFKULH DOOHQ ]X ª.RPPW LKU QLFKW ]X QDK© 6HLQ JDQ]HV *HIROJH ZDU QXQ LQ GHQ 6DORQ HLQJHGUXQJHQ 'LH HLQHQ WUDQNHQ DQGHUH VFKULHQ XQG ODFKWHQ DOOH ZDUHQ LQ K|FKVW DQLPLHUWHU XQJH]ZXQJHQHU 6WLPPXQJ )HUG\VFKWVFKHQNRPDFKWH9HUVXFKHVLFKLKQHQDQ]XVFKOLHHQ 'HU *HQHUDO XQG 7R]NLM VFKLFNWHQ VLFK ZLHGHU DQ P|JOLFKVW EDOG]XYHUVFKZLQGHQ$XFK*DQMDKDWWHGHQ+XWLQGHU+DQG DEHUHUVWDQGVFKZHLJHQGGDXQGVFKLHQVLFKYRQGHP%LOGGDV VLFK GD YRU VHLQHQ $XJHQ HQWUROOWH QRFK QLFKW ORVUHLHQ ]X N|QQHQ ª.RPPW LKU QLFKW ]X QDK© VFKULH 5RJRVKLQ ª$EHU ZDVEUOOVWGXGHQQ"©VFKDOWLKQ1DVWDVMD)LOLSSRZQDODFKHQG ª,FK ELQ KLHU QRFK *DVWJHEHU LQ PHLQHU HLJHQHQ :RKQXQJ ZHQQ LFK ZLOO NDQQ LFK GLFK LPPHU QRFK PLW 5LSSHQVW|HQ KLQDXVMDJHQ ODVVHQ 1RFK KDEH LFK GDV *HOG YRQ GLU QLFKW DQJHQRPPHQGDOLHJWHVJLEHVKHUGDVJDQ]H3lFNFKHQ$OVR LQ GLHVHP 3lFNFKHQ VLQG KXQGHUWWDXVHQG 5XEHO" 3IXL ZLH VFKPXW]LJHVDXVVLHKW:DVKDVWGX'DUMD$OH[HMHZQD"6ROOWH LFK LKQ GHQQ ZLUNOLFK ]XJUXQGH ULFKWHQ"© 6LH ZLHV DXI GHQ )UVWHQ ª:LH NDQQ HU GHQQ KHLUDWHQ" (U EUDXFKW MD VHOEVW QRFK HLQH .LQGHUIUDX GHU *HQHUDO GRUW GHU ZLUG QXQ VHLQH .LQGHUIUDX VHLQ VLHK QXU ZLH HU XP LKQ KHUXPVFKDUZHQ]HOW 6FKDXKHU)UVWGHLQH%UDXWKDWGDV*HOGJHQRPPHQZHLOVLH HLQH'LUQHLVWXQGGXZROOWHVWVLHKHLUDWHQ$EHUZDUXPZHLQVW GX GHQQ" (V LVW GLU ZRKO VFKPHU]OLFK ZLH" $EHU PHLQHU $QVLFKW QDFK VROOWHVW GX ODFKHQ© IXKU 1DVWDVMD )LOLSSRZQD IRUWGHUVHOEVW]ZHL JURH7UlQHQDXIGHQ:DQJHQIXQNHOWHQ
ª9HUWUDXH DXI GLH =HLW HV JHKW DOOHV YRUEHU %HVVHU PDQ EHGHQNWGDVMHW]WDOVVSlWHU8QGZDUXPZHLQW LKU DOOH" 'D DXFK.DWMD ZHLQW:DVKDVWGXOLHEH.DWMD",FKODVVH GLU XQG 3DVFKD YLHO ]XUFN LFK KDEH VFKRQ GLH Q|WLJHQ $QRUGQXQJHQ JHWURIIHQ MHW]W DEHU OHEW ZRKO ,FK KDEH YRQ GLU HLQHP DQVWlQGLJHQ 0lGFKHQ YHUODQJW GD GX PLFK HLQH 'LUQH EHGLHQHQVROOWHVW(VLVWEHVVHUVR)UVWZLUNOLFKEHVVHUGX ZUGHVW PLFK VSlWHU YHUDFKWHQ XQG HV ZUGH QLFKW XQVHU *OFN VHLQ 6FKZ|UH QLFKW ,FK JODXEH HV QLFKW 8QG ZLH GXPP ZUGH HV DXFK VHLQ 1HLQ DP EHVWHQ VFKHLGHQ ZLU YRQHLQDQGHUDOVJXWH)UHXQGHDXFKLFKELQMDHLQH7UlXPHULQ HV ZUGH QLFKWV *XWHV GDEHL KHUDXVNRPPHQ +DEH LFK QLFKW VHOEVW YRQ GLU JHWUlXPW" 'DULQ KDVW GX UHFKW LFK KDEH VFKRQ ODQJH YRQ GLU JHWUlXPW VFKRQ DOV LFK EHL LKP DXI GHP 'RUIH IQI -DKUH ODQJ PXWWHUVHHOHQDOOHLQ OHEWH GD GHQNW XQG GHQNW PDQ PDQFKPDO XQG WUlXPW XQG WUlXPW XQG GD KDEH LFK PLU LPPHU VR HLQHQ 0DQQ YRUJHVWHOOW ZLH GLFK HLQHQ JXWHQ HKUHQKDIWHQ EUDYHQ HLQ ELFKHQ GXPPHQ 0DQQ GHU DXI HLQPDO NRPPW XQG VDJW ¾6LH WUDJHQ NHLQH 6FKXOG 1DVWDVMD )LOLSSRZQD XQG LFK YHUJ|WWHUH 6LH½ 8QG LFK YHUVHQNWH PLFK PDQFKPDOVRLQPHLQH7UlXPHUHLHQGDLFKIDVWGHQ9HUVWDQG YHUORU8QGGDNDPQXQGLHVHU0HQVFKKLHUDOOH-DKUHEOLHE HU ]ZHL 0RQDWH ODQJ ]X %HVXFK HQWHKUWH VFKlQGHWH HQWIODPPWH YHUGDUE PLFK XQG IXKU GDQQ ZLHGHU GDYRQ 7DXVHQGPDO KDEH LFK LQ GHQ 7HLFK VSULQJHQ ZROOHQ DEHU LFK ZDU]XIHLJHPHLQ0XWUHLFKWHGD]XQLFKWDXV1XQDEHUMHW]W 5RJRVKLQELVWGXEHUHLW"©ª$OOHVEHUHLW.RPPWLKUQLFKW]X QDK© ª$OOHV EHUHLW© ULHIHQ PHKUHUH 6WLPPHQ ª'LH 7URLNDV ZDUWHQPLW6FKHOOHQ© 1DVWDVMD )LOLSSRZQD QDKP GDV 3lFNFKHQ LQ GLH +DQG ª*DQMD PLU LVW HLQ *HGDQNH JHNRPPHQ LFK ZLOO GLFK HQWVFKlGLJHQ GHQQ ZDUXP VROOWHVW GX DOOHV YHUOLHUHQ" 5RJRVKLQ ZLUG HU IU GUHL 5XEHO ELV QDFK GHU :DVVLOLM,QVHO NULHFKHQ"© ª-DZRKO GDV ZLUG HU WXQ© ª1XQ GHQQ VR K|UH
*DQMDLFKZLOO]XPOHW]WHQPDOHLQHQ%OLFNLQGHLQH6HHOHWXQ GX KDVW PLFK JDQ]H GUHL 0RQDWH ODQJ JHTXlOW MHW]W LVW GLH 5HLKH DQ PLU 'X VLHKVW GLHVHV 3lFNFKHQ ± GDULQ VLQG KXQGHUWWDXVHQG5XEHO,FKZHUGHHVMHW]WJOHLFKLQGHQ.DPLQ ZHUIHQLQV)HXHUKLHUYRUDOOHU$XJHQDOOH$QZHVHQGHQVLQG =HXJHQ6REDOGGDV)HXHUHVJDQ]HUIDWKDEHQZLUGJUHLIHLQ GHQ .DPLQ DEHU RKQH +DQGVFKXKH PLW EORHQ +lQGHQ XQG DXIJHVWUHLIWHQbUPHOQXQG]LHKGDV3lFNFKHQDXVGHP)HXHU :HQQ GX HV KHUDXV]LHKVW VROO HV GLU JHK|UHQ GLH JDQ]HQ KXQGHUWWDXVHQG5XEHOVROOHQGLUJHK|UHQ'XZLUVWGLUQXUHLQ JDQ] NOHLQ ELFKHQ GLH )LQJHUFKHQ YHUEUHQQHQ DEHU GDIU EHNRPPVW GX DXFK KXQGHUWWDXVHQG 5XEHO EHGHQN GDV ZRKO 'DV +HUDXVKROHQ LVW MD LQ HLQHP $XJHQEOLFN DXVJHIKUW ,FK DEHU ZLOO PLFK DQ GHP $QEOLFN GHLQHU 6HHOH HUIUHXHQ ZLH GX QDFKPHLQHP*HOGLQV)HXHUJUHLIVW$OOHVLQG=HXJHQGDGDV 3lFNFKHQ GDQQ GLU JHK|UW *UHLIVW GX DEHU QLFKW KLQHLQ VR YHUEUHQQW HV LFK ZHUGH NHLQHQ DQGHUQ KHUDQODVVHQ :HJ GD $OOHZHJ(VLVWPHLQ*HOG,FKKDEHHVYRQ5RJRVKLQIUHLQH 1DFKW EHNRPPHQ *HK|UW GDV *HOG PLU 5RJRVKLQ"© ª'LU JHK|UW HV GX PHLQH +HU]HQVIUHXGH 'LU GX PHLQH .|QLJLQ© ª1XQ GDQQ DOVR DOOH ZHJ :DV LFK ZLOO GDV WXH LFK DXFK 6XFKHPLFKNHLQHU]XKLQGHUQ)HUG\VFKWVFKHQNRVFKUHQ6LH GDV )HXHU© ª1DVWDVMD )LOLSSRZQD LFK NDQQ GLH $UPH QLFKW KHEHQ©HUZLGHUWH)HUG\VFKWVFKHQNRGHUJDQ]EHQRPPHQZDU ª$FK ZDV© ULHI 1DVWDVMD )LOLSSRZQD HUJULII GLH )HXHU]DQJH VFKDUUWH ]ZHL VFKZHOHQGH +RO]VFKHLWH DXVHLQDQGHU XQG ZDUI VREDOGGDV)HXHUOHEKDIWHUDXIEUDQQWHGDV3lFNFKHQKLQHLQ 'LH 8PVWHKHQGHQ VWLHHQ HLQHQ 6FKUHL DXV YLHOH EHNUHX]LJWHQ VLFK VRJDU ª6LH LVW YHUUFNW JHZRUGHQ 6LH LVW YHUUFNW JHZRUGHQ© ZXUGH ULQJVXP JHUXIHQ ª6ROOWHQ ZLU VROOWHQZLUVLHQLFKWELQGHQ"©IOVWHUWHGHU*HQHUDOGHPQHEHQ LKP VWHKHQGHQ 3WL]\Q ]X ª2GHU VROOWHQ ZLU QLFKW QDFK GHU 3ROL]HL VFKLFNHQ" 6LH LVW MD YHUUFNW JHZRUGHQ WRWDO YHUUFNW© ª1QHLQ GDV LVW YLHOOHLFKW JDU QLFKW 9HUUFNWKHLW©
IOVWHUWH 3WL]\Q ]XUFN GHU EOHLFK ZLH /HLQZDQG JHZRUGHQ ZDU DP JDQ]HQ /HLEH ]LWWHUWH XQG VHLQH $XJHQ YRQ GHP EHUHLWV VFKZHOHQGHQ 3lFNFKHQ QLFKW ORV]XUHLHQ YHUPRFKWH ª,VW VLH QLFKW YHUUFNW" ,VW VLH QLFKW YHUUFNW"© GUDQJ GHU *HQHUDODXI7R]NLMHLQ ª,FKKDEH,KQHQMDJHVDJWGDVLHHLQRULJLQHOOHV:HLELVW© PXUPHOWH $IDQDVVLM ,ZDQRZLWVFK GHU HEHQIDOOV HWZDV EOD JHZRUGHQ ZDU ª$EHU HV VLQG MD GRFK KXQGHUWWDXVHQG 5XEHO © ª+HUU *RWW +HUU *RWW© ZXUGH ULQJVXPKHU JHUXIHQ $OOH XPGUlQJWHQ GHQ .DPLQ DOOH ZROOWHQ VHKHQ DOOH VFKULHQ 0DQFKH VWLHJHQ VRJDU DXI GLH 6WKOH XP EHU GLH .|SIH GHU DQGHUQ KLQZHJVHKHQ ]X N|QQHQ 'DUMD $OH[HMHZQD VWU]WH LQV 1HEHQ]LPPHU XQG UHGHWH GRUW LQ lQJVWOLFKHP )OVWHUWRQH PLW .DWMD XQG 3DVFKD 'LH VFK|QH 'HXWVFKH ZDU GDYRQJHODXIHQ ª0WWHUFKHQ .|QLJLQ *URPlFKWLJH© KHXOWH /HEHGHZ GHU DXI GHQ .QLHQ YRU 1DVWDVMD )LOLSSRZQD KHUXPNURFK XQG GLH +lQGH QDFK GHP .DPLQ DXVVWUHFNWH ª+XQGHUWWDXVHQG KXQGHUWWDXVHQG ,FK KDEH VLH VHOEVW JHVHKHQ VLH VLQG YRU PHLQHQ $XJHQ HLQJHSDFNW ZRUGHQ 0WWHUFKHQ %DUPKHU]LJH (UODXEHPLULQGHQ.DPLQKLQHLQ]XJUHLIHQLFKZLOO JDQ]XQG JDU KLQHLQNULHFKHQ PHLQHQ JDQ]HQ JUDXHQ .RSI ZLOO LFK LQV )HXHU KLQHLQOHJHQ ,FK KDEH HLQ NUDQNHV :HLE GDV QLFKW JHKHQ NDQQ XQG GUHL]HKQ .LQGHU IU GLH NHLQH 0XWWHU VRUJW PHLQHQ 9DWHU KDEH LFK LQ GHU YRULJHQ :RFKH EHJUDEHQ ZLU KDEHQQLFKWV]XHVVHQ1DVWDVMD)LOLSSRZQD© 8QWHU VROFKHP .ODJHJHVFKUHL ZROOWH HU VFKRQ ]XP .DPLQ KLQNULHFKHQ ª:HJ© ULHI 1DVWDVMD )LOLSSRZQD XQG VWLH LKQ IRUWª7UHWHWDOOHDXVHLQDQGHU*DQMDZDVVWHKVWGXGD"6FKlP GLFKQLFKWJUHLIKLQHLQ(VKDQGHOWVLFKXPGHLQ*OFN© $EHU *DQMD KDWWH VFKRQ ]XYLHO DQ GLHVHP 7DJH XQG $EHQG HUWUDJHQ XQG ZDU DXI GLHVH OHW]WH XQHUZDUWHWH 3UIXQJ QLFKW YRUEHUHLWHW 'LH 0HQJH WUDW QDFK EHLGHQ 6HLWHQ DXVHLQDQGHU XQG HU EOLHE $XJH LQ $XJH PLW 1DVWDVMD )LOLSSRZQD VWHKHQ GUHL6FKULWWHYRQLKUHQWIHUQW6LHVWDQGGLFKWEHLP.DPLQXQG
ZDUWHWH RKQH LKUHQ EUHQQHQGHQ IHVWHQ %OLFN YRQ LKP DE]XZHQGHQ *DQMD LQ )UDFN XQG +DQGVFKXKHQ GHQ +XW LQ GHU +DQG VWDQG RKQH HLQ :RUW ]X VDJHQ XQG RKQH HLQH $QWZRUW]XJHEHQYRULKUKDWWHGLH$UPHJHNUHX]WXQGEOLFNWH LQV )HXHU (LQ LUUHV /lFKHOQ KXVFKWH EHU VHLQ *HVLFKW GDV WRWHQEOD JHZRUGHQ ZDU $OOHUGLQJV YHUPRFKWH HU GLH $XJHQ QLFKW YRQ GHP )HXHU XQG GHP JOLPPHQGHQ 3lFNFKHQ ZHJ]XZHQGHQ DEHU HLQ QHXHV *HIKO VFKLHQ LQ VHLQH 6HHOH (LQJDQJ JHIXQGHQ ]X KDEHQ HU KDWWH VLFK JHVFKZRUHQ GLHVH )ROWHU ]X HUWUDJHQ HU UKUWH VLFK QLFKW YRP )OHFNH QDFK HLQLJHQ $XJHQEOLFNHQ ZDU HV DOOHQ GHXWOLFK JHZRUGHQ GD HU ]XGHP3lFNFKHQQLFKWKLQJHKHQZUGHQLFKWKLQJHKHQZROOWH ª3D DXI GDV *HOG ZLUG YHUEUHQQHQ XQG PDQ ZLUG GLFK DXVODFKHQ© ULHI LKP 1DVWDVMD )LOLSSRZQD ]X ª1DFKKHU ZLUVW GXGLFKDXIKlQJHQLFKVFKHU]HQLFKW© 'DV )HXHU GDV DQIDQJV ]ZLVFKHQ GHQ EHLGHQ VFKZHOHQGHQ +RO]VFKHLWHQDXIJHIODPPWZDUKDWWHDOVGDV3lFNFKHQGDUDXI ILHO XQG HV QLHGHUGUFNWH ]XQlFKVW EHLQDK HUO|VFKHQ ZROOHQ $EHUHLQHNOHLQHEODXH)ODPPHNODPPHUWHVLFKQRFKXQWHQDQ HLQH(FNHGHV GDUXQWHUOLHJHQGHQ 6FKHLWHV (QGOLFK OHFNWH HLQH VFKPDOHODQJH )HXHU]XQJH DXFK DQ GHP 3lFNFKHQ GDV )HXHU EOLHE GDUDQ KDIWHQ XQG OLHI DQ GHQ (FNHQ DP 3DSLHU LQ GLH +|KH XQG SO|W]OLFK IODPPWH GDV JDQ]H 3lFNFKHQ LP .DPLQ DXIXQGHLQHKHOOH)ODPPHVFKOXJLQGLH+|KH$OOHVW|KQWHQ DXI ª0WWHUFKHQ© KHXOWH /HEHGHZ LPPHU QRFK XQG VWU]WH ZLHGHUQDFKYRUQDEHU5RJRVKLQ]RJXQGVWLHLKQYRQQHXHP KLQZHJ 5RJRVKLQVHOEVWKDWWHVLFKVR]XVDJHQJDQ]LQHLQHQHLQ]LJHQ VWDUUHQ %OLFN YHUZDQGHOW (U NRQQWH VLFK YRQ 1DVWDVMD )LOLSSRZQDQLFKWORVUHLHQHUEHUDXVFKWHVLFKDQLKUHUZDULP VLHEHQWHQ+LPPHOª'DVLVWHLQH.|QLJLQ©ZLHGHUKROWHHUDOOH $XJHQEOLFNH LQGHP HU VLFK EDOG DQ GLHVHQ EDOG DQ MHQHQ GHU 8PVWHKHQGHQ ZDQGWH ª'DV LVW HLQPDO QDFK PHLQHP *HVFKPDFN© ULHI HU JDQ] DXHU VLFK ª1D ZHU YRQ HXFK LKU
DUPVHOLJHQ*DXQHULVWHLQHVVROFKHQ6WUHLFKHVIlKLJKH"© 'HU)UVWEHREDFKWHWHGLH9RUJlQJHWUDXULJXQGVFKZHLJHQG ª,FK KROH HV IU HLQHQ HLQ]LJHQ 7DXVHQGHU PLW GHQ =lKQHQ KHUDXV© HUERW VLFK )HUG\VFKWVFKHQNR ª,FK WlWH HV HEHQIDOOV PLWGHQ=lKQHQ©NQLUVFKWHGHUJDQ]KLQWHQVWHKHQGH+HUUPLW GHQ )lXVWHQ LQ HLQHP $QIDOO HFKWHU 9HU]ZHLIOXQJ ª+RO¶V GHU 7HXIHO(VEUHQQWHVEUHQQWYROOVWlQGLJ© VFKULH HU DOV HU GLH )ODPPHVDK ª(VEUHQQWHVEUHQQW©ULHIHQDOOH]XJOHLFKXQGVWU]WHQIDVW DOOH HEHQIDOOV ]XP .DPLQ KLQ ª*DQMD VHL QLFKW HLJHQVLQQLJ LFK VDJH HV ]XP OHW]WHQPDO© ª.ULHFK KLQHLQ© EUOOWH )HUG\VFKWVFKHQNR LQGHP HU LQ YROOHU 5DVHUHL ]X *DQMD KLQVWU]WHXQGLKQDPbUPHOUL ª.ULHFKKLQHLQGX1DUU(V YHUEUHQQW2GXYHUUUGDPPWHU.HUO© *DQMD VWLH )HUG\VFKWVFKHQNR KHIWLJ YRQ VLFK GUHKWH VLFK XPXQGJLQJDXIGLH7U]XDEHU HUKDWWHNDXP]ZHL6FKULWWH JHPDFKW DOV HU VFKZDQNWH XQG ]X %RGHQ VWU]WH ª(U LVW RKQPlFKWLJ© ULHIHQ GLH 8PVWHKHQGHQ ª0WWHUFKHQ HV YHUEUHQQW© KHXOWH /HEHGHZ ª(V YHUEUHQQW XPVRQVW© EUOOWH HV YRQ DOOHQ 6HLWHQ ª.DWMD 3DVFKD EULQJW LKP :DVVHU XQG 6SLULWXV© EHIDKO 1DVWDVMD )LOLSSRZQD HUJULII GLH )HXHU]DQJH XQGKROWHGDV3lFNFKHQKHUDXV )DVW GDV JDQ]H lXHUH 3DSLHU ZDU DQJHEUDQQW XQG JOLPPWH DEHU PDQ NRQQWH VRIRUW VHKHQ GD GHU ,QKDOW KHLO JHEOLHEHQ ZDU 'DV 3lFNFKHQ ZDU LQ GUHLIDFKHV =HLWXQJVSDSLHU HLQJHVFKODJHQXQGGDV*HOGZDUXQYHUVHKUW$OOHDWPHWHQDXI ª+|FKVWHQVHLQ7DXVHQGHUFKHQLVWHLQELFKHQEHVFKlGLJWDEHU DOOH EULJHQ VLQG JDQ]© VDJWH /HEHGHZ JHUKUW ª'DV JDQ]H *HOG JHK|UW LKP 'DV JDQ]H 3lFNFKHQ +|UHQ 6LH PHLQH +HUUVFKDIWHQ© ULHI 1DVWDVMD )LOLSSRZQD XQG OHJWH GDV 3lFNFKHQ QHEHQ *DQMD KLQ ª(U KDW VLFK GRFK EHKHUUVFKW XQG LVW QLFKW KLQJHJDQJHQ $OVR LVW EHL LKP GDV (KUJHIKO GRFK QRFK VWlUNHU DOV GLH *HOGJLHU 'LH 2KQPDFKW LVW QLFKW JHIlKUOLFKHUZLUGVFKRQZLHGHU]XVLFKNRPPHQ:HQQLFKHV
LKP QLFKW VFKHQNWH ZUGH HU PLFK ZRP|JOLFK HUPRUGHQ 'D HU NRPPW VFKRQ ZLHGHU ]XU %HVLQQXQJ *HQHUDO ,ZDQ 3HWURZLWVFK'DUMD$OH[HMHZQD.DWMD3DVFKD5RJRVKLQKDEW LKU HV JHK|UW" 'DV 3lFNFKHQ JHK|UW *DQMD ,FK EHUODVVH HV LKP ]X YROOHP (LJHQWXP DOV (QWVFKlGLJXQJ RGHU ZLH PDQ HV VRQVW QHQQHQ ZLOO 6DJW LKP GDV 0DJ HV GD QHEHQ LKP OLHJHQEOHLEHQ 9RUZlUWV 5RJRVKLQ /HE ZRKO )UVW LFK KDEH ]XP HUVWHQPDO HLQHQ 0HQVFKHQ JHIXQGHQ /HEHQ 6LH ZRKO $IDQDVVLM ,ZDQRZLWVFK PHUFL© 5RJRVKLQV JDQ]H 5RWWH HLOWHOlUPHQGSROWHUQGXQGVFKUHLHQGKLQWHULKPXQG1DVWDVMD )LOLSSRZQD KHU GXUFK GLH =LPPHU GHP $XVJDQJ ]X ,P :RKQ]LPPHU UHLFKWHQ LKU GLH 0lGFKHQ GHQ 3HO] GLH .|FKLQ 0DUIDNDPDXVGHU.FKHKHUEHLJHODXIHQ1DVWDVMD)LOLSSRZQD NWH VLH DOOH ª$EHU ZROOHQ 6LH XQV GHQQ ZLUNOLFK JDQ] YHUODVVHQ0WWHUFKHQ"8QGZRKLQJHKHQ6LHGHQQ"8QGQRFK GD]X DP *HEXUWVWDJ DQ HLQHP VROFKHQ 7DJH© IUDJWHQ GLH ZHLQHQGHQ 0lGFKHQ LQGHP VLH LKU GLH +lQGH NWHQ ª,FK JHKH DXI GLH 6WUDH .DWMD GX KDVW HV MD JHK|UW GD LVW PHLQ 3ODW] RGHU DEHU LFK ZHUGH :lVFKHULQ 0LW $IDQDVVLM ,ZDQRZLWVFK ELQ LFK IHUWLJ *UW LKQ YRQ PLU XQG JHGHQNW PHLQHUQLFKWLP%|VHQ© 'HU)UVWHLOWHVRVFKQHOOHUQXUNRQQWHQDFKGHP3RUWDO]X ZR DOOH GDEHL ZDUHQ VLFK LQ YLHU PLW *O|FNFKHQ EHKlQJWH 7URLNDV ]X YHUWHLOHQ 'HU *HQHUDO GHU LKP QDFKOLHI KROWH LKQ QRFK DXI GHU 7UHSSH HLQ ª,FK ELWWH GLFK )UVW NRPP ]XU %HVLQQXQJ©VDJWHHUXQGHUJULIILKQEHLGHU+DQGª/DGRFK GDV:HLEODXIHQ'XVLHKVWMDZDVVLHIUHLQHLVW,FKUHGH]X GLUZLHHLQYlWHUOLFKHU)UHXQG©'HU)UVWVDKLKQDQULVLFK DEHURKQHHLQ:RUW]XVDJHQORVXQGOLHIQDFKXQWHQ $P 3RUWDO YRQ GHP GLH 7URLNDV JHUDGH DEJHIDKUHQ ZDUHQ VDK GHU *HQHUDO QRFK ZLH GHU )UVW GLH HUVWH EHVWH 'URVFKNH QDKPXQGGHP.XWVFKHU]XULHIª1DFK-HNDWHULQKRIKLQWHUGHQ 7URLNDV KHU© 'DQQ NDP GHU PLW HLQHP JUDXHQ 7UDEHU EHVSDQQWH :DJHQ GHV *HQHUDOV YRUJHIDKUHQ XQG EUDFKWH GHQ
*HQHUDO QDFK +DXVH PLW QHXHQ +RIIQXQJHQ XQG 3OlQHQ XQG PLWGHP3HUOHQVFKPXFNGHQGHU*HQHUDOGRFKQLFKWYHUJHVVHQ KDWWH PLW]XQHKPHQ 0LWWHQ LQ VHLQHQ 6SHNXODWLRQHQ WDXFKWH DXFK 1DVWDVMD )LOLSSRZQDV YHUIKUHULVFKHV %LOG HLQ SDDUPDO YRU VHLQHP JHLVWLJHQ $XJH DXI XQG HU VHXI]WH ª6FKDGH ZLUNOLFK VFKDGH (LQ YHUORUHQHV :HLE (LQ YHUUFNWHV :HLE 1XQ GHU )UVW NDQQ MHW]W HLQH 1DVWDVMD )LOLSSRZQD QLFKW EUDXFKHQ 9LHOOHLFKW LVW HV VRJDU JXW GD GLH 6DFKH HLQH VROFKH:HQGXQJJHQRPPHQKDW© ,Q lKQOLFKHU :HLVH ZLGPHWHQ QRFK ]ZHL DQGHUH *lVWH 1DVWDVMD )LOLSSRZQDV GLH VLFK GDIU HQWVFKLHGHQ KDWWHQ HLQH 6WUHFNH ]X )X ]X JHKHQ LKU HLQ SDDU PRUDOLVFKH :RUWH DOV 1DFKUXI ª:LVVHQ 6LH $IDQDVVLM ,ZDQRZLWVFK EHL GHQ -DSDQHUQ VROO HV HWZDV bKQOLFKHV JHEHQ© VDJWH ,ZDQ 3HWURZLWVFK 3WL]\Q ª'D JHKW ZLH HV KHLW GHU %HOHLGLJWH ]X GHP%HOHLGLJHUKLQXQGVDJW]XLKP¾'XKDVW PLFK EHOHLGLJW GHVKDOEELQLFKKHUJHNRPPHQXPPLUYRU GHLQHQ $XJHQ GHQ %DXFK DXI]XVFKOLW]HQ½ XQG PLW GLHVHQ :RUWHQ VFKOLW]W HU VLFK ZLUNOLFK YRU GHQ $XJHQ GHV %HOHLGLJHUV GHQ %DXFK DXI XQG IKOWGDEHLZDKUVFKHLQOLFKHLQHDXHURUGHQWOLFKH%HIULHGLJXQJ DOV KDEH HU VLFK WDWVlFKOLFK JHUlFKW (V JLEW VRQGHUEDUH &KDUDNWHUH DXI GHU :HOW $IDQDVVLM ,ZDQRZLWVFK © ª8QG 6LH PHLQHQ GD DXFK KLHU HWZDV 'HUDUWLJHV YRUOLHJW"© HUZLGHUWH $IDQDVVLM,ZDQRZLWVFKOlFKHOQGª+P6LHVLQGVHKUJHLVWUHLFK XQG KDEHQ HLQHQ VHKU VFK|QHQ 9HUJOHLFK JHEUDFKW 6LH KDEHQ DEHU GRFK VHOEVW JHVHKHQ OLHEVWHU ,ZDQ 3HWURZLWVFK GD LFK DOOHVJHWDQKDEHZDVLQPHLQHQ.UlIWHQVWDQGEHUGLH*UHQ]H GHV 0|JOLFKHQ KLQDXV NDQQ LFK GRFK QLFKWV WXQ GDV PVVHQ 6LH VHOEVW ]XJHEHQ $EHU DXI GHU DQGHUHQ 6HLWH ZHUGHQ 6LH DXFK GDV ]XJHEHQ PVVHQ GD GLHVH )UDX JURDUWLJH (LJHQVFKDIWHQ KHUUOLFKH &KDUDNWHU]JH EHVLW]W ,FK ZROOWH LKU YRUKLQ VFKRQ ]XUXIHQ ZHQQ GDV LQ GLHVHP :LUUZDUU P|JOLFK JHZHVHQZlUHGDVLHVHOEVWPHLQHEHVWH5HFKWIHUWLJXQJJHJHQ LKUH $QVFKXOGLJXQJHQ VHL 1XQ LVW HV QLFKW HUNOlUOLFK ZHQQ
VLFKMHPDQGYRQGLHVHP:HLEHVRIHVVHOQOlWGDHU9HUQXQIW XQG DOOHV YHUJLW" 6HKHQ 6LH GLHVHU %DXHU GLHVHU 5RJRVKLQ KDW LKU KXQGHUWWDXVHQG 5XEHO DQJHVFKOHSSW JHEUDFKW $OOHV ZDV VLFK GD KHXWH ]XJHWUDJHQ KDW ZDU DOOHUGLQJV XQEHUOHJW URPDQWLVFK XQVFKLFNOLFK DEHU GDIU GRFK LQGLYLGXHOO XQG RULJLQHOOGDVPVVHQ6LHVHOEVW]XJHEHQ2*RWWZR]XN|QQWH VLH HV EHL HLQHP VROFKHQ &KDUDNWHU XQG EHL HLQHU VROFKHQ 6FK|QKHLW QLFKW EULQJHQ $EHU WURW] DOOHU %HPKXQJHQ YRQ PHLQHU6HLWHMDWURW]DOOHU%LOGXQJGLHLKU]XWHLOJHZRUGHQLVW LVW QXQ GRFK DOOHV ]XJUXQGH JHJDQJHQ 6LH LVW HLQ XQJHVFKOLIIHQHU 'LDPDQW ZLH LFK PDQFKPDO YRQ LKU JHVDJW KDEH© 8QG$IDQDVVLM,ZDQRZLWVFKVWLHHLQHQWLHIHQ6HXI]HUDXV
=:(,7(57(,/ , =ZHL 7DJH QDFK GHQ VHOWVDPHQ 9RUJlQJHQ DXI 1DVWDVMD )LOLSSRZQDV$EHQGJHVHOOVFKDIWPLWGHQHQZLUGHQHUVWHQ7HLO XQVHUHU (U]lKOXQJ JHVFKORVVHQ KDEHQ IXKU )UVW 0\VFKNLQ HLOLJ QDFK 0RVNDX XP VHLQH XQHUZDUWHWH (UEVFKDIW LQ (PSIDQJ]XQHKPHQ(VKLHGDPDOVVHLQHHLOLJH$EUHLVHKDEH P|JOLFKHUZHLVH DXFK QRFK DQGHUH 8UVDFKHQ JHKDEW DEHU KLHUEHUVRZLHEHUGLH(UOHEQLVVHGHV)UVWHQLQ0RVNDXXQG EHUKDXSW ZlKUHQG VHLQHU $EZHVHQKHLW YRQ 3HWHUVEXUJ VLQG ZLU QXU VHKU ZHQLJHV ]X EHULFKWHQ LPVWDQGH 'HU )UVW EOLHE JHQDX VHFKV 0RQDWH IRUW XQG VRJDU GLHMHQLJHQ /HXWH GLH HLQLJHQ *UXQGKDWWHQVLFK IUVHLQ6FKLFNVDO]X LQWHUHVVLHUHQ YHUPRFKWHQ ZlKUHQG GLHVHU JDQ]HQ =HLW QXU lXHUVW ZHQLJ EHULKQLQ(UIDKUXQJ]XEULQJHQ0DQFKHQNDPHQ DOOHUGLQJV ZHQQ DXFK QXU VHKU VHOWHQ JHZLVVH *HUFKWH ]X 2KUHQ DEHU GLHVH *HUFKWH NODQJHQ JURHQWHLOV UHFKW VHOWVDP XQG ZLGHUVSUDFKHQ HLQDQGHU IDVW LPPHU $P PHLVWHQ LQWHUHVVLHUWH PDQVLFKIUGHQ)UVWHQQDWUOLFKLP-HSDQWVFKLQVFKHQ+DXVH ZRHUEHLVHLQHU$EUHLVHQLFKWHLQPDO=HLWJHIXQGHQKDWWHVLFK ]XYHUDEVFKLHGHQ'HU*HQHUDOZDUDOOHUGLQJVGDPDOVQRFKPLW LKP]XVDPPHQJHNRPPHQVRJDUPHKUHUH0DOHXQGVLHKDWWHQ PLWHLQDQGHU HUQVWH *HVSUlFKH JHIKUW DEHU YRQ GLHVHQ =XVDPPHQNQIWHQ PDFKWH -HSDQWVFKLQ VHLQHU )DPLOLH NHLQH 0LWWHLOXQJ8QGEHUKDXSWZXUGHLQGHUHUVWHQ =HLWGDVKHLW HLQHQ JDQ]HQ 0RQDW QDFK GHU $EUHLVH GHV )UVWHQ LP -HSDQWVFKLQVFKHQ +DXVH QDFK VWLOOVFKZHLJHQGHU hEHUHLQNXQIW YRQ LKP QLFKW JHVSURFKHQ 1XU GLH *HQHUDOLQ /LVDZHWD 3URNRIMHZQDlXHUWHVLFK JDQ]DP$QIDQJHGLHVHU=HLWGDKLQ VLH KDEH VLFK LQ GHP )UVWHQ JUDXVDP JHWlXVFKW 8QG HLQLJH
7DJH GDUDXI IJWH VLH RKQH MHGRFK GHQ )UVWHQ ]X QHQQHQ VRQGHUQ QXU VR LP DOOJHPHLQHQ KLQ]X GDV ZLFKWLJVWH &KDUDNWHULVWLNXP LKUHV /HEHQV EHVWHKH GDULQ GD VLH VLFK IRUWZlKUHQG LQ GHQ 0HQVFKHQ WlXVFKH 8QG VFKOLHOLFK QDFK ZHLWHUHQ]HKQ7DJHQHUNOlUWHVLHDOVVLHVLFKDXVLUJHQGHLQHP *UXQGHEHULKUH7|FKWHUJHlUJHUWKDWWHQXQVHLHVJHQXJPLW GHQ,UUWPHUQZHLWHUHZHUGHVLHQLFKWEHJHKHQ$XHUGHPZDU QLFKW]XYHUNHQQHQGDLQGLHVHP+DXVHODQJH=HLWHLQHUHFKW XQDQJHQHKPH 6WLPPXQJ KHUUVFKWH (V PDFKWH VLFK HLQ JHZLVVHU 'UXFN HLQH JHZLVVH *HVSDQQWKHLW EHPHUNEDU PDQ VSUDFK VLFK QLFKW RUGHQWOLFK DXV XQG QHLJWH GD]X VLFK ]X VWUHLWHQDOOHPDFKWHQILQVWHUH*HVLFKWHU'HU*HQHUDOZDU7DJ XQG1DFKWEHVFKlIWLJWXQGPLW$UEHLWEHUKlXIWPDQKDWWHLKQ VHOWHQ VWlUNHU YRQ *HVFKlIWHQ LQ $QVSUXFK JHQRPPHQ XQG WlWLJHU JHVHKHQ QDPHQWOLFK LP 'LHQVW 6HLQH )DPLOLH EHNDP LKQNDXPQRFK]X*HVLFKW :DV GLH -HSDQWVFKLQVFKHQ 0lGFKHQ DQODQJW VR K|UWH QDWUOLFK QLHPDQG HLQ ODXWHV :RUW YRQ LKQHQ EHU GDV 9RUJHIDOOHQH YLHOOHLFKW VSUDFKHQ VLH VRJDU XQWHUHLQDQGHU ZHQQ VLH DOOHLQ ZDUHQ QXU VHKU ZHQLJ GDUEHU 6LH ZDUHQ VWRO]H KRFKPWLJH 0lGFKHQ XQG VRJDU XQWHU VLFK ]XZHLOHQ VHKU VFKDPKDIW EULJHQV YHUVWDQGHQ VLH HLQDQGHU VFKRQ EHLP HUVWHQ:RUWMDVRJDUEHLPHUVWHQ %OLFNVRGDVLHPDQFKPDO QLFKWQ|WLJKDWWHQYLHO]XVDJHQ 1XUDXIHLQVKlWWHHLQIUHPGHU%HREDFKWHUZHQQHLQVROFKHU GDJHZHVHQ ZlUH VFKOLHHQ N|QQHQ GD QDFK DOO GHQ REHQ DQJHIKUWHQZLHZRKOQLFKW]DKOUHLFKHQ)DNWHQ]XXUWHLOHQGHU )UVWGRFKHLQHQEHVRQGHUHQ(LQGUXFNLQGHU-HSDQWVFKLQVFKHQ )DPLOLH JHPDFKW KDEHQ PXWH REZRKO HU VLFK LQ LKU QXU HLQPDO XQG QRFK GD]X QXU IOFKWLJ JH]HLJW KDWWH 9LHOOHLFKW EHUXKWH GLHVHU (LQGUXFN HLQIDFK GDUDXI GD HLQLJH H[]HQWULVFKH$EHQWHXHUGHV )UVWHQ GLH 1HXJLHU HUUHJW KDWWHQ :LH GHP DXFK VHLQ PRFKWH MHGHQIDOOV KDWWH HU HLQHQ VWDUNHQ (LQGUXFNKLQWHUODVVHQ
1DFK XQG QDFK YHUVDQNHQ DXFK GLH *HUFKWH GLH VLFK ]XQlFKVW LQ GHU 6WDGW YHUEUHLWHW KDWWHQ LQ GDV 'XQNHO GHU 8QJHZLKHLW 0DQ HU]lKOWH VLFK DOOHUGLQJV YRQ HLQHP QlUULVFKHQ MXQJHQ )UVWHQ GHQ 1DPHQ NRQQWH QLHPDQG ]XYHUOlVVLJ DQJHEHQ GHU DXI HLQPDO HLQH NRORVVDOH (UEVFKDIW JHPDFKW XQG HLQH ]XJHUHLVWH )UDQ]|VLQ HLQH EHNDQQWH &DQFDQWlQ]HULQDXVGHPFKlWHDXGHVIOHXUV LQ3DULVJHKHLUDWHW KDEH $EHU DQGHUH VDJWHQ GLH (UEVFKDIW KDEH YLHOPHKU HLQ *HQHUDO JHPDFKW XQG GHUMHQLJH GHU GLH ]XJHUHLVWH )UDQ]|VLQ XQG EHUKPWH &DQFDQWlQ]HULQ JHKHLUDWHW KDEH VHL HLQ HQRUP UHLFKHU UXVVLVFKHU .DXIPDQQ GLHVHU KDEH EHL VHLQHU +RFK]HLW DXV UHLQHU 3UDKOVXFKW LQ EHWUXQNHQHP =XVWDQG DQ HLQHU .HU]H VLHEHQKXQGHUWWDXVHQG 5XEHO GHU OHW]WHQ 3UlPLHQDQOHLKH YHUEUDQQW $EHU DOOH GLHVH *HUFKWH YHUVWXPPWHQ VHKU EDOG ZR]X GLH 8PVWlQGH VHKU ZHVHQWOLFK PLWKDOIHQ 6R ]XP %HLVSLHO KDWWH VLFK 5RJRVKLQV JDQ]H 5RWWH YRQ GHU GRFK PDQFKH EHU GDV *HVFKHKHQH DOOHUOHL KlWWHQ HU]lKOHQ N|QQHQ LQ JHVFKORVVHQHP 7UXSS PLW LKP VHOEVW DQ GHU 6SLW]H QDFK 0RVNDX EHJHEHQ HLQH :RFKH QDFK GHU VFKDXGHUKDIWHQ 2UJLH LQ GHP 9DX[KDOO YRQ -HNDWHULQKRI EHL ZHOFKHU DXFK 1DVWDVMD )LOLSSRZQD]XJHJHQJHZHVHQZDU(LQLJHZHQLJHGLHVLFKIU GLH 6DFKH JDU QLFKW HLQPDO VRQGHUOLFK LQWHUHVVLHUWHQ KDWWHQ JHUFKWZHLVH JHK|UW 1DVWDVMD )LOLSSRZQD VHL JOHLFK DP QlFKVWHQ 7DJH QDFK MHQHU 2UJLH LQ -HNDWHULQKRI JHIORKHQ XQG YHUVFKZXQGHQ XQG PDQ KDEH HQGOLFK KHUDXVEHNRPPHQ GD VLH VLFK QDFK 0RVNDX EHJHEHQ KDEH VLH IDQGHQ GDKHU GD DXFK5RJRVKLQV$EUHLVHQDFK0RVNDXPLWGLHVHP*HUFKWLP (LQNODQJVWHKH $XFK VSH]LHOO EHU *DZULOD $UGDOLRQRZLWVFK ,ZROJLQ GHU JOHLFKIDOOV LQ VHLQHP .UHLV HLQH UHFKW EHNDQQWH 3HUV|QOLFKNHLW ZDU EHJDQQHQ DOOHUOHL *HUFKWH XP]XJHKHQ $EHU DXFK PLW LKP JHVFKDK HWZDV ZRYRQ DOOHV EOH *HUHGH EHU LKQ VHKU EDOGQDFKOLHXQGGDQQJDQ]DXIK|UWHHUZXUGHVHKUNUDQNXQG
IU] 6FKORGHU%OXPHQ
NRQQWHQLUJHQGVLQGHU*HVHOOVFKDIWHUVFKHLQHQMDQLFKWHLQPDO LP 'LHQVW 1DFKGHP HU HLQHQ 0RQDW ODQJ VFKZHU OHLGHQG JHZHVHQZDUJHQDVHUZLHGHUJDEDEHUVHLQH7lWLJNHLWEHLGHU $NWLHQJHVHOOVFKDIW DXVQLFKWQlKHUEHNDQQWHP *UXQG JlQ]OLFK DXI XQG HLQ DQGHUHU HUKLHOW VHLQH 6WHOOH ,P +DXVH GHV *HQHUDOV-HSDQWVFKLQOLHHUVLFKJOHLFKIDOOVNHLQHLQ]LJHV0DO PHKU EOLFNHQ VR GD DXFK ]XP *HQHUDO HLQ DQGHUHU %HDPWHU NRPPHQ PXWH *DZULOD $UGDOLRQRZLWVFKV )HLQGH KlWWHQ DQQHKPHQN|QQHQ HUVFKlPHVLFKVRVHKUEHU DOOHVZDVPLW LKPYRUJHJDQJHQZDUGD HUVLFKQLFKW DXIGHU6WUDH]HLJHQ PRFKWH DEHU HU NUlQNHOWH WDWVlFKOLFK LPPHU QRFK HU YHUILHO VRJDU LQ +\SRFKRQGULH XQG ZXUGH PHODQFKROLVFK XQG QHUY|V :DUZDUD $UGDOLRQRZQD YHUPlKOWH VLFK LP VHOEHQ :LQWHU PLW 3WL]\QDOOH%HNDQQWHQGHUEHLGHQIKUWHQGLHVH(KHVFKOLHXQJ JHUDGHVZHJV DXI GHQ 8PVWDQG ]XUFN GD *DQMD QLFKW ]X VHLQHU7lWLJNHLW]XUFNNHKUHQPRFKWHXQGQLFKWQXUDXIJHK|UW KDWWH GLH )DPLOLH ]X XQWHUKDOWHQ VRQGHUQ VRJDU VHOEVW GHU +LOIHMDEHLQDKGHU3IOHJHEHGXUIWH :LUPVVHQLQ.ODPPHUQKLQ]XIJHQGDDXFKYRQ*DZULOD $UGDOLRQRZLWVFK LP -HSDQWVFKLQVFKHQ +DXVH QLH PHKU JHVSURFKHQ ZXUGH DOV RE HLQ VROFKHU 0HQVFK QLH LP +DXVH YHUNHKUW KlWWH MD EHUKDXSW QLH DXI GHU :HOW JHZHVHQ ZlUH 'DEHL KDWWHQ DEHU DOOH EHU LKQ XQG ]ZDU VRJDU VHKU EDOG HWZDVVHKU0HUNZUGLJHVHUIDKUHQQlPOLFKIROJHQGHVLQHEHQ MHQHU IU LKQ VR YHUKlQJQLVYROOHQ 1DFKW KDEH *DQMD DOV HU QDFK GHP XQDQJHQHKPHQ 9RUIDOO EHL 1DVWDVMD )LOLSSRZQD KHLPJHNHKUW ZDU VLFK QLFKW VFKODIHQ JHOHJW VRQGHUQ PLW ILHEHUKDIWHU8QJHGXOGDXIGLH5FNNHKUGHV)UVWHQ JHZDUWHW 'HU)UVWGHUQDFK-HNDWHULQKRIJHIDKUHQZDUVHLYRQGRUWXP VHFKV 8KU PRUJHQV ]XUFNJHNHKUW 'D VHL *DQMD ]X LKP LQV =LPPHU JHJDQJHQ XQG KDEH GDV DQJHEUDQQWH *HOGSlFNFKHQ GDV LKP 1DVWDVMD )LOLSSRZQD ZlKUHQG VHLQHU 2KQPDFKW JHVFKHQNW KDWWH YRU LKP DXI GHQ 7LVFK JHOHJW (U KDEH GHQ )UVWHQ GULQJHQG JHEHWHQ VREDOG VLFK HLQH 0|JOLFKNHLW GD]X
ELHWH GLHVHV *HVFKHQN 1DVWDVMD )LOLSSRZQD ]XUFN]XJHEHQ $OV *DQMD ]XP )UVWHQ KHUHLQJHNRPPHQ VHL KDEH HU VLFK LQ HLQHU IHLQGOLFKHQ XQG EHLQDK YHU]ZHLIHOWHQ 6WLPPXQJ EHIXQGHQDEHUQDFKGHPGDQQ]ZLVFKHQLKPXQGGHP)UVWHQ HLQLJH :RUWH JHZHFKVHOW ZRUGHQ VHLHQ KDEH *DQMD EHLP )UVWHQ ]ZHL 6WXQGHQ ODQJ JHVHVVHQ XQG GLH JDQ]H =HLW EHU ELWWHUOLFK JHZHLQW %HLGH VHLHQ LQ DOOHU )UHXQGVFKDIW YRQHLQDQGHUJHVFKLHGHQ 'LHVH 1DFKULFKW GLH DOOHQ 0LWJOLHGHUQ GHU )DPLOLH -H± SDQWVFKLQ ]X 2KUHQ JHNRPPHQ ZDU HUZLHV VLFK ZLH VLFK LQ GHU )ROJH]HLW EHVWlWLJWH DOV Y|OOLJ ULFKWLJ (V ZDU DOOHUGLQJV PHUNZUGLJ GD GHUDUWLJH 1DFKULFKWHQ VLFK VR VFKQHOO YHUEUHLWHQ XQG EHNDQQW ZHUGHQ NRQQWHQ VR ZXUGH ]XP %HLVSLHO DOOHV ZDV LQ 1DVWDVMD )LOLSSRZQDV :RKQXQJ YRUJHJDQJHQ ZDU LQ GHU -HSDQWVFKLQVFKHQ )DPLOLH EHLQDK VFKRQDPQlFKVWHQ7DJEHNDQQWXQG]ZDULQ]LHPOLFKJHQDXHQ 'HWDLOV +LQVLFKWOLFK GHU 1DFKULFKWHQ EHU *DZULOD $UGDOLRQRZLWVFK KlWWH PDQ DOOHUGLQJV DQQHKPHQ N|QQHQ GD VLH GHQ -HSDQWVFKLQV YRQ :DUZDUD $UGDOLRQRZQD ]XJHWUDJHQ ZRUGHQ VHLHQ GLH DXI HLQPDO EHL GHQ )UlXOHLQ -HSDQWVFKLQ DXIJHWDXFKW ZDU XQG VRJDU VHKU EDOG PLW LKQHQ DXI UHFKW YHUWUDXWHP )X VWDQG ZRUEHU VLFK /LVDZHWD 3URNRIMHZQD K|FKOLFKVWZXQGHUWH$EHUREJOHLFK:DUZDUD$UGDOLRQRZQDHV DXV LUJHQGHLQHP *UXQGH IU Q|WLJ KLHOW PLW GHQ )UlXOHLQ -HSDQWVFKLQ LQ VR QDKH %H]LHKXQJHQ ]X WUHWHQ VR ZUGH VLH GRFK EHU LKUHQ %UXGHU PLW LKQHQ DOOHU :DKUVFKHLQOLFKNHLW QDFK QLFKW JHVSURFKHQ KDEHQ 6LH ZDU HEHQIDOOV LQ LKUHU $UW UHFKWVWRO]REZRKOVLHDQHLQHU6WHOOH)UHXQGVFKDIWVFKORYRQ ZR LKU %UXGHU EHLQDK ZHJJHMDJW ZRUGHQ ZDU $XFK IUKHU VFKRQ ZDU VLH PLW GHQ )UlXOHLQ -HSDQWVFKLQ EHNDQQW JHZHVHQ DEHUVLHKDWWHQHLQDQGHUQXUVHOWHQJHVHKHQ,P6DORQ]HLJWHVLH VLFKEULJHQVDXFKMHW]WNDXPVRQGHUQEHQXW]WHDOVZROOWHVLH QXU DXI HLQHQ $XJHQEOLFN YRUVSUHFKHQ GLH +LQWHUWUHSSH /LVDZHWD3URNRIMHZQDZDULKUZHGHU IUKHU]XJHWDQ JHZHVHQ
QRFK ZDU VLH HV MHW]W REZRKO VLH 1LQD $OH[DQGURZQD :DUZDUD $UGDOLRQRZQDV 0XWWHU VHKU KRFKVFKlW]WH 6LH ZXQGHUWH XQG lUJHUWH VLFK ]XJOHLFK XQG VFKULHE GLH )UHXQGVFKDIW PLW :DU MD GHQ /DXQHQ XQG GHU +HUUVFKVXFKW LKUHU 7|FKWHU ]X GLH ªVLFK LPPHU]X HWZDV 1HXHV DXVGHQNHQ PXWHQ XP LKU LQ GLH 4XHUH ]X NRPPHQ© :DUZDUD $UGDOLRQRZQDMHGRFKVHW]WHWURW]GHPVRZRKOYRUDOVDXFKQDFK LKUHU9HUKHLUDWXQJLKUH%HVXFKHEHLLKQHQIRUW $EHU HV ZDU QDFK GHU $EUHLVH GHV )UVWHQ XQJHIlKU HLQ 0RQDW YHUIORVVHQ GD HUKLHOW GLH *HQHUDOLQ -HSDQWVFKLQD HLQHQ %ULHI YRQ GHU DOWHQ )UVWLQ %MHORNRQVNDMD GLH YLHU]HKQ 7DJH YRUKHU QDFK 0RVNDX ]X LKUHU lOWHVWHQ GRUW YHUKHLUDWHWHQ 7RFKWHU JHIDKUHQ ZDU XQG GLHVHU %ULHI EWH HLQH VWDUNH :LUNXQJ DXI VLH DXV 2EZRKO VLH ZHGHU LKUHQ 7|FKWHUQ QRFK ,ZDQ )MEGRURZLWVFK HWZDV GDUDXV PLWWHLOWH PHUNWHQ LKUH $QJHK|ULJHQ GRFK DQ YLHOHQ $Q]HLFKHQ GD VLH EHVRQGHUV DQLPLHUW MD DXIJHUHJW ZDU 6LH ILQJ DQ PLW GHQ 7|FKWHUQ LQ HLQHU JDQ] PHUNZUGLJHQ :HLVH ]X UHGHQ LPPHU EHU JDQ] XQJHZ|KQOLFKH *HJHQVWlQGH VLH KDWWH RIIHQEDU GLH JU|WH /XVW VLFK DXV]XVSUHFKHQ EH]ZDQJ VLFK DEHU DXV LUJHQGHLQHP *UXQGH $Q GHP 7DJH DQ GHP VLH GHQ %ULHI HUKDOWHQ KDWWH ZDU VLH JHJHQ DOOH VHKU ]lUWOLFK XQG NWH VRJDU $JODMD XQG $GHODLGDHVPDFKWHGHQ(LQGUXFNDOVWlWHVLHYRULKQHQZHJHQ LUJHQGHWZDV%XHDEHUZHVZHJHQHLJHQWOLFKGDVZXUGHLKQHQ QLFKWNODU6RJDU JHJHQ ,ZDQ )MRGRURZLWVFKGHUEHLLKU HLQHQ JDQ]HQ 0RQDW ODQJ LQ 8QJQDGH JHZHVHQ ZDU ZXUGH VLH DXI HLQPDO QDFKVLFKWLJ 1DWUOLFK lUJHUWH VLH VLFK JOHLFK DP IROJHQGHQ 7DJH IXUFKWEDU EHU LKUH JHVWULJH 6HQWLPHQWDOLWlW XQG IDQG QRFK YRU GHP 0LWWDJHVVHQ =HLW VLFK PLW DOOHQ ]X ]DQNHQDEHUJHJHQ$EHQGKHOOWHVLFKGHU+RUL]RQWZLHGHUDXI 2EHUKDXSW EHIDQG VLH VLFK GLH JDQ]H IROJHQGH :RFKH EHU LQ UHFKW JXWHU /DXQH ZDV EHL LKU VFKRQ ODQJH QLFKW GDJHZHVHQ ZDU $EHU QDFK HLQHU ZHLWHUHQ :RFKH WUDI YRQ GHU )UVWLQ
%MHORNRQVNDMD HLQ ]ZHLWHU %ULHI HLQ XQG GLHVPDO HQWVFKOR VLFK GLH *HQHUDOLQ GD]X VLFK DXV]XVSUHFKHQ 6LH HUNOlUWH IHLHUOLFK GLH DOWH %MHORNRQVNDMD DQGHUV EH]HLFKQHWH VLH GLH )UVWLQ QLHPDOV ZHQQ VLH LQ $EZHVHQKHLW GHUVHOEHQ YRQ LKU VSUDFK KDEH LKU VHKU WU|VWOLFKH 1DFKULFKWHQ EHU GLHVHQ ª6RQGHUOLQJQDMDEHUGHQ)UVWHQ©]XJHKHQODVVHQ'LH$OWH KDEH LQ 0RVNDX 1DFKIRUVFKXQJHQ QDFK LKP DQJHVWHOOW (UNXQGLJXQJHQEHULKQHLQJH]RJHQXQGVHKU*XWHVEHULKQLQ (UIDKUXQJ JHEUDFKW GHU )UVW KDEH VLFK VFKOLHOLFK DXFK EHL LKU VHOEVW HLQJHIXQGHQ XQG DXI VLH HLQHQ VHKU JQVWLJHQ (LQGUXFN JHPDFKW 'DV ZDU DXFK GDUDXV ]X HUVHKHQ GD VLH LKQ HLQJHODGHQ KDWWH VLH WlJOLFK ]ZLVFKHQ HLQ XQG ]ZHL 8KU PLWWDJV ]X EHVXFKHQ ªXQG HU NRPPW QXQ DOOH 7DJH ]X LKU DQJHODXIHQ XQG VLH LVW VHLQHU QRFK QLFKW EHUGUVVLJ JHZRUGHQ© VFKOR GLH *HQHUDOLQ XQG IJWH GDQQ QRFK KLQ]X GXUFK 9HUPLWWHOXQJ ªGHU $OWHQ© KDEH GHU )UVW ]X PHKUHUHQ JXWHQ )DPLOLHQ =XWULWW HUKDOWHQ ª'DV LVW JXW GD HU QLFKW LPPHU ]X +DXVH KRFNW XQG VLFK ZLH HLQ 'XPPNRSI JHQLHUW© 'LH MXQJHQ 0lGFKHQ GHQHQ GLHV DOOHV PLWJHWHLOW ZXUGH PHUNWHQ VRIRUW GD GLH 0DPD LKQHQ VHKU YLHOHV DXV LKUHP %ULHI YRUHQWKLHOW 9LHOOHLFKW HUIXKUHQ VLH GDV )HKOHQGH GXUFK :DUZDUD $UGDOLRQRZQD GLH QDWUOLFK DOOHV ZDV LKUHP 0DQQ EHU GHQ )UVWHQ XQG GHVVHQ $XIHQWKDOW LQ 0RVNDX EHNDQQW ZDU DXFK LKUHUVHLWV ZLVVHQ NRQQWH XQG ZLUNOLFK ZXWH 8QG 3WL]\Q NRQQWH GDUEHU DOOHUGLQJV PHKU ZLVVHQ DOV DOOH DQGHUQ $EHU HU ZDU LQ JHVFKlIWOLFKHQ 'LQJHQ DXHURUGHQWOLFK VFKZHLJVDP REZRKO HU VHLQHU )UDX VHOEVWYHUVWlQGOLFK QLFKWV YRUHQWKLHOW 'LH $EQHLJXQJ GHU *HQHUDOLQ JHJHQ :DUZDUD $UGDOLRQRZQDVWLHJGDGXUFKQRFKPHKU $EHU ZLH GHP DXFK VHLQ PRFKWH GDV (LV ZDU HLQPDO JHEURFKHQ XQG HV GXUIWH QXQ ZLHGHU EHU GHQ )UVWHQ ODXW JHVSURFKHQ ZHUGHQ 'HU XQJHZ|KQOLFKH (LQGUXFN GHQ GHU )UVW LP -HSDQWVFKLQVFKHQ +DXVH JHPDFKW XQG GDV OHEKDIWH ,QWHUHVVH GDV HU GRUW HUUHJW XQG KLQWHUODVVHQ KDWWH WUDWHQ YRQ
QHXHPNODU]XWDJH'LH*HQHUDOLQZXQGHUWHVLFKVRJDUEHUGLH VWDUNH :LUNXQJ GLH GLH 1DFKULFKWHQ DXV 0RVNDX DXI LKUH 7|FKWHU DXVEWHQ 8QG GLH 7|FKWHU LKUHUVHLWV ZDUHQ HUVWDXQW EHU GLH 0DPD GLH LKQHQ VR IHLHUOLFK HUNOlUW KDWWH GDV ZLFKWLJVWH &KDUDNWHULVWLNXP LKUHV /HEHQV EHVWHKH GDULQ GD VLHVLFKIRUWZlKUHQGLQGHQ0HQVFKHQWlXVFKHXQGJOHLFK]HLWLJ GHQ )UVWHQ GHU $XIPHUNVDPNHLW GHU ªPlFKWLJHQ© DOWHQ )UVWLQ%MHORNRQVNDMDLQ0RVNDXHPSIRKOHQKDWWHZR]XGRFK HLQJHZDOWLJHU$XIZDQGYRQ%LWWHQXQG%HVFKZ|UXQJHQQ|WLJ ZDU GHQQ ªGLH $OWH© ZDU LQ JHZLVVHQ )lOOHQ QXU VFKZHU LQ %HZHJXQJ]XVHW]HQ 6RZLH DEHU HLQPDO GDV (LV JHEURFKHQ ZDU XQG HLQ QHXHU :LQGZHKWHEHHLOWHVLFKDXFKGHU*HQHUDODXV]XVSUHFKHQZDV HU ZXWH (V ]HLJWH VLFK GD DXFK HU VLFK IU GHQ )UVWHQ OHEKDIWLQWHUHVVLHUWH(UPDFKWHGHQ6HLQLJHQEULJHQVQXUEHU ªGLH JHVFKlIWOLFKH 6HLWH GHU $QJHOHJHQKHLW© 0LWWHLOXQJ (U KDEH VDJWH HU LP ,QWHUHVVH GHV )UVWHQ ]ZHL VHKU YHUOlOLFKH XQGLQLKUHU$UWHLQIOXUHLFKH0RVNDXHU+HUUHQEHDXIWUDJWLKQ XQGEHVRQGHUVVHLQHQ5DWJHEHU6DODVNLQ]XEHUZDFKHQ$OOHV ZDV EHU GLH (UEVFKDIW JHVDJW VHL GDV KHLW ªVR]XVDJHQ GDV )DNWXPGHU(UEVFKDIW©KDEHVLFKDOVULFKWLJHUZLHVHQDEHUGLH (UEVFKDIW VHOEVW VWHOOH VLFK VFKOLHOLFK QLFKW DOV VR EHGHXWHQG KHUDXV ZLH HV DQIDQJV YHUODXWHW KDEH 'DV 9HUP|JHQ VWHFNH ]XU HLQHQ +lOIWH LQ YHUZLFNHOWHQ 8QWHUQHKPXQJHQ HV VHLHQ 6FKXOGHQ YRUKDQGHQ DXFK WUlWHQ 3UlWHQGHQWHQ DXI XQG GHU )UVW YHUIDKUH WURW] DOOHU 5DWVFKOlJH DXI HLQH VHKU ZHQLJ JHVFKlIWVPlLJH :HLVH (U GHU *HQHUDO ZQVFKH LKP QDWUOLFK ªYRQJDQ]HP+HU]HQDOOHV*XWH©MHW]WZR ªGDV(LV GHV6FKZHLJHQV©JHEURFKHQVHLN|QQHHUGDVVDJHQGHQQGHU MXQJH0DQQYHUGLHQHHVZHQQHUDXFKªHLQELFKHQVRVR©VHL $EHUHUPDFKHGRFKGRUWDUJH'XPPKHLWHQHVKlWWHQVLFK]XP %HLVSLHO *OlXELJHU GHV YHUVWRUEHQHQ .DXIPDQQV PLW DQIHFKWEDUHQ RGHU JHUDGH]X ZHUWORVHQ 8UNXQGHQ EHU LKUH $QVSUFKH JHPHOGHW XQG DQGHUH GLH YRQ GHP )UVWHQ
:LWWHUXQJEHNRPPHQKlWWHQJDQ]RKQHVROFKH8UNXQGHQXQG ZDV KDEH GHU )UVW JHWDQ" (U KDEH VLH IDVW DOOH EHIULHGLJW REZRKO LKP VHLQH )UHXQGH YRUJHVWHOOW KlWWHQ GD DOOH GLHVH VDXEHUHQ 3DWURQH YRQ *OlXELJHUQ NHLQHUOHL 5HFKWVDQVSUFKH EHVlHQ DEHU HU KDEH VLH GHQQRFK EHIULHGLJW HLQ]LJ GHVKDOE ZHLOVLFKKHUDXVJHVWHOOWKDEHGDHLQLJHYRQLKQHQWDWVlFKOLFK 6FKDGHQHUOLWWHQKlWWHQ 'LH *HQHUDOLQ HUZLGHUWH GDUDXI GD DXFK GLH )UVWLQ %MHORNRQVNDMDDQVLHVRHWZDVJHVFKULHEHQKDEHXQGGD ªGDV GXPP VHKU GXPP© VHL ª'XPPKHLW LVW QLFKW KHLOEDU© IJWH VLHLQVFKDUIHP7RQKLQ]XDEHUPDQNRQQWHHVLKUDP*HVLFKW DQVHKHQ ZLH VHKU VLH VLFK GRFK LQQHUOLFK EHU GLHVH +DQGOXQJVZHLVHGHVª'XPPNRSIHV©IUHXWH$XVDOOHPPHUNWH GHU *HQHUDO VFKOLHOLFK GD VHLQH *HPDKOLQ DQ GHP )UVWHQ ZLH DQ HLQHP OHLEOLFKHQ 6RKQ $QWHLO QDKP XQG GD VLH VLFK JHJHQ $JODMD DXHURUGHQWOLFK ]lUWOLFK EHQDKP DOV ,ZDQ )MRGRURZLWVFK GDV VDK QDKP HU IU HLQLJH =HLW HLQH VHKU JHVFKlIWVPlLJH+DOWXQJDQ $EHUGLHVHJDQ]HDQJHQHKPH6WLPPXQJGDXHUWHQLFKWODQJH .DXP ZDUHQ ]ZHL :RFKHQ YHUJDQJHQ GD WUDW DXI HLQPDO HLQ 8PVFKODJ HLQ GLH *HQHUDOLQ PDFKWH ZLHGHU HLQ ILQVWHUHV *HVLFKW XQG GHU *HQHUDO IJWH VLFK QDFKGHP HU HLQLJH 0DOH GLH $FKVHOQ JH]XFNW KDWWH ZLHGHU LQ ªGDV (LV GHV 6FKZHLJHQV© 'LH 6DFKH ZDU GLH YLHU]HKQ 7DJH YRUKHU KDWWH HU XQWHUGHUKDQG HLQH ]ZDU NXU]H XQG GDKHU QLFKW JDQ] NODUH DEHU GRFK ]XYHUOlVVLJH 1DFKULFKW IROJHQGHQ ,QKDOWV HUKDOWHQ 1DVWDVMD)LOLSSRZQDGLH]XHUVWLQ0RVNDXYHUVFKZXQGHQXQG GDQQ LQ 0RVNDX VHOEVW YRQ 5RJRVKLQ DXIJHIXQGHQ GDQQ ZLHGHU LUJHQGZRKLQ YHUVFKZXQGHQ XQG ZLHGHU YRQ LKP DXIJHIXQGHQVHLKDEHLKPHQGOLFKVRJXWZLHIHVWYHUVSURFKHQ LKQ ]X KHLUDWHQ 8QG QXQ QXU YLHU]HKQ 7DJH VSlWHU HUKLHOW 6HLQH ([]HOOHQ] SO|W]OLFK HLQH DQGHUH 1DFKULFKW 1DVWDVMD )LOLSSRZQD VHL ]XP GULWWHQPDO IDVW YRP 7UDXDOWDU GDYRQJHODXIHQ XQG GLHVPDO LUJHQGZR LQ GHU 3URYLQ]
XQWHUJHWDXFKW XQG JOHLFK]HLWLJ VHL DXFK )UVW 0\VFKNLQ DXV 0RVNDX YHUVFKZXQGHQ QDFKGHP HU DOOH VHLQH $QJHOHJHQKHLWHQGHU )UVRUJH 6DODVNLQV DQYHUWUDXW KDEH ª2E HUPLWLKU]XVDPPHQGDYRQJHJDQJHQRGHULKUQXUQDFKJHODXIHQ LVW ZHL PDQ QLFKW DEHU HLQV YRQ EHLGHQ ZLUG ZRKO GHU )DOO VHLQ© VFKOR GHU *HQHUDO /LVDZHWD 3URNRIMHZQD KDWWH LKUHUVHLWV HEHQIDOOV XQDQJHQHKPH 1DFKULFKWHQ HUKDOWHQ 'DV (QGH YRP /LHG ZDU GD ]ZHL 0RQDWH QDFK GHU $EUHLVH GHV )UVWHQ IDVW DOOH *HUFKWH EHU LKQ LQ 3HWHUVEXUJ HQGJOWLJ YHUVWXPPWZDUHQXQGLP-HSDQWVFKLQVFKHQ+DXVHªGDV(LVGHV 6FKZHLJHQV© QLFKW PHKU JHEURFKHQ ZXUGH :DUZDUD $UGDOLRQRZQD VHW]WH EULJHQV LKUH %HVXFKH EHL GHQ MXQJHQ 'DPHQGHQQRFKIRUW 8P QXQ PLW DOO GLHVHQ *HUFKWHQ XQG 1DFKULFKWHQ DE]XVFKOLHHQ IJHQ ZLU KLQ]X GD EHL -HSDQWVFKLQV ]X %HJLQQ GLHVHV )UKMDKUV VHKU YLHOH 8PZlO]XQJHQ YRU VLFK JLQJHQ VR GD HV OHLFKW ZDU GHQ )UVWHQ ]X YHUJHVVHQ GHU VHOEVWQLFKWVYRQVLFKK|UHQOLHXQGYLHOOHLFKWDXFKQLFKWVYRQ VLFK K|UHQ ODVVHQ ZROOWH ,P /DXIH GHV :LQWHUV ZDU PDQ DOOPlKOLFK]XGHP(QWVFKOXJHODQJWLP6RPPHULQV$XVODQG ]X UHLVHQ GDV KHLW /LVDZHWD 3URNRIMHZQD XQG GLH 7|FKWHU VROOWHQKLQUHLVHQGHU*HQHUDOVHOEVWNRQQWHVHLQH=HLWQDWUOLFK QLFKW ]X ªEORHQ =HUVWUHXXQJHQ© YHUJHXGHQ 'HU (QWVFKOX ZDUDXIGLHGULQJHQGHQXQGEHKDUUOLFKHQ%LWWHQGHU7|FKWHUKLQ JHIDW ZRUGHQ ZHOFKH YROOVWlQGLJ GDYRQ EHU]HXJW ZDUHQ PDQ ZROOH VLH OHGLJOLFK GHVZHJHQ QLFKW LQV $XVODQG EULQJHQ ZHLO GLH (OWHUQ XQDXIK|UOLFK PLW GHU 6RUJH VLH ]X YHUKHLUDWHQ XQG )UHLHU IU VLH ]X VXFKHQ EHVFKlIWLJW VHLHQ 9LHOOHLFKW ZDUHQDXFKGLH(OWHUQVFKOLHOLFK]XGHUhEHU]HXJXQJJHODQJW GDDXFKLP$XVODQGH%HZHUEHU]XILQGHQVHLHQXQGGDHLQH 5HLVHGLHQXUHLQHQ6RPPHUGDXHUHQLFKWVYHUGHUEHVRQGHUQ DP(QGHVRJDUQRFKªI|UGHUOLFKVHLQ©N|QQH$QGLHVHU6WHOOH VFKHLQW HV DQJHPHVVHQ ]X HUZlKQHQ GD PDQ YRQ GHU IUKHU LQ $XVVLFKW JHQRPPHQHQ (KHVFKOLHXQJ ]ZLVFKHQ $IDQDVVLM
,ZDQRZLWVFK 7R]NLM XQG GHU lOWHVWHQ -HSDQWVFKLQD YROOVWlQGLJ DEJHNRPPHQ XQG HLQ IRUPHOOHU $QWUDJ YRQ VHLQHU 6HLWH QLFKW HUIROJW ZDU 'DV KDWWH VLFK JDQ] YRQ VHOEVW VR JHPDFKW RKQH YLHOHV 5HGHQ XQG RKQH DOOHQ .DPSI LQ GHU )DPLOLH 6HLW GHU $EUHLVH GHV )UVWHQ ZDU YRQ EHLGHQ 6HLWHQ DOOHV DXI HLQPDO VWLOO GDUXP JHZRUGHQ $XFK GLHVHU 8P VWDQG WUXJ PLW ]X GHU JHGUFNWHQ 6WLPPXQJ EHL GLH GDPDOV LQ GHU )DPLOLH -HSDQWVFKLQ KHUUVFKWH REZRKO GLH *HQHUDOLQ VLFK GDKLQ lXHUWH VLH VHL MHW]W VR IURK GD VLH VLFK PLW EHLGHQ +lQGHQ EHNUHX]LJHQ P|FKWH 2EJOHLFK GHU *HQHUDO LQ 8QJQDGH ZDU XQG IKOWH GD HU GDV VHOEVW YHUVFKXOGHW KDWWH VFKPROOWH½ HU GRFKOlQJHUH =HLW HV WDW LKP OHLG GD $IDQDVVLM ,ZDQRZLWVFK QLFKWVHLQ6FKZLHJHUVRKQZXUGH ª(LQVROFKHV9HUP|JHQXQG HLQ VR JHZDQGWHU 0HQVFK© 1LFKW ODQJH GDUDXI HUIXKU GHU *HQHUDOGD$IDQDVVLM,ZDQRZLWVFKVLFKYRQHLQHU]XJHUHLVWHQ )UDQ]|VLQ KDEH IHVVHOQ ODVVHQ GLH ]XU K|KHUHQ *HVHOOVFKDIW JHK|UH0DUTXLVHXQG/HJLWLPLVWLQVHLGDGLH(KHVFKOLHXQJ EHYRUVWHKH XQG GD VLH LKUHQ *HPDKO GDQQ QDFK 3DULV XQG VSlWHULUJHQGZRKLQLQGLH%UHWDJQHHQWIKUHQZHUGHª1DPLW GHU)UDQ]|VLQZLUGHU]XJUXQGHJHKHQ©HQWVFKLHGGHU*HQHUDO $OVR GLH -HSDQWVFKLQV PDFKWHQ VLFK EHUHLW ]X %HJLQQ GHV 6RPPHUV ZHJ]XUHLVHQ 'D WUDW SO|W]OLFK HLQ (UHLJQLV HLQ GDV YRQ QHXHP DOOH 3OlQH XPVWLH XQG GLH 5HLVH ZXUGH ]XU JU|WHQ )UHXGH GHV *HQHUDOV XQG GHU *HQHUDOLQ ZLHGHU DXIJHVFKREHQ(VNDPDXV0RVNDXQDFK3HWHUVEXUJHLQ )UVW HLQ)UVW6FKWVFKEULJHQVHLQHVHKUEHNDQQWH3HUV|QOLFKNHLW XQG]ZDUEHNDQQWYRQGHUDOOHUEHVWHQ6HLWH(UZDUHLQHUMHQHU HKUHQKDIWHQEHVFKHLGHQHQWDWIUHXGLJHQ0lQQHUZLHVLHLQGHU OHW]WHQ =HLW KlXILJHU JHZRUGHQ ZDUHQ MHQHU 0lQQHU GLH DXIULFKWLJXQGEHZXWGDV1W]OLFKHHUVWUHEHQLPPHUDUEHLWHQ XQG VLFK GXUFK GLH VHOWHQH JOFNOLFKH *DEH DXV]HLFKQHQ LPPHU $UEHLW IU VLFK ]X ILQGHQ 2KQH VLFK YRU]XGUlQJHQ RKQHVLFKDQGHPHUELWWHUWHQ*H]lQNXQGGHPPLJHQ*HUHGH GHU 3DUWHLHQ ]X EHWHLOLJHQ XQG RKQH VLFK ]X GHQ (UVWHQ ]X
UHFKQHQ EHVD GHU )UVW GRFK HLQ UHFKW JUQGOLFKHV 9HUVWlQGQLV IU HLQHQ JXWHQ 7HLO GHU (QWZLFNOXQJ GLH GLH OHW]WH =HLW JHEUDFKW KDWWH (U KDWWH IUKHU HLQ $PW EHNOHLGHW XQG GDQQ EHL GHU OlQGOLFKHQ 6HOEVWYHUZDOWXQJ PLWJHZLUNW $XHUGHP ZDU HU HLQ QW]OLFKHU .RUUHVSRQGHQW PHKUHUHU JHOHKUWHU UXVVLVFKHU *HVHOOVFKDIWHQ ,P 9HUHLQ PLW HLQHP EHNDQQWHQ 7HFKQLNHU KDWWH HU GXUFK GDV YRQ LKP JHVDPPHOWH VWDWLVWLVFKH 0DWHULDO XQG GLH YRQ LKP DQJHVWHOOWHQ 8QWHUVXFKXQJHQ EHZLUNW GD HLQH GHU ZLFKWLJVWHQ SURMHNWLHUWHQ (LVHQEDKQHQ HLQH ]ZHFNPlLJHUH 5LFKWXQJ HUKLHOW (U ZDU HWZD IQIXQGGUHLLJ -DKUH DOW JHK|UWH ]XU ªDOOHUYRUQHKPVWHQ *HVHOOVFKDIW© XQG EHVD DXHUGHP HLQ ªVFK|QHV VROLGHV VLFKHUHV© 9HUP|JHQ ZLH VLFK GHU *HQHUDO DXVGUFNWH GHU DQOlOLFK HLQHU VHKU ZLFKWLJHQ JHVFKlIWOLFKHQ $QJHOHJHQKHLWPLWGHP)UVWHQEHLVHLQHP&KHIGHP*UDIHQ ]XVDPPHQJHWURIIHQ ZDU XQG VHLQH %HNDQQWVFKDIW JHPDFKW KDWWH 'HU )UVW JLQJ LQIROJH HLQHU JHZLVVHQ EHVRQGHUHQ 1HXJLHUGH NHLQHU *HOHJHQKHLW PLW UXVVLVFKHQ ª*HVFKlIWVOHXWHQ© EHNDQQW ]X ZHUGHQ DXV GHP :HJH (V PDFKWH VLFK VR GD GHU )UVW DXFK PLW GHU )DPLOLH GHV *HQHUDOVEHNDQQWZXUGH$GHODLGD,ZDQRZQDGLHPLWWOHUHGHU GUHL6FKZHVWHUQPDFKWHDXILKQHLQHQUHFKWVWDUNHQ(LQGUXFN =X%HJLQQGHV)UKOLQJVKLHOWHUXPLKUH+DQGDQ'HU)UHLHU JHILHOVRZRKOLKUDOVDXFKLKUHU0XWWHUUHFKWJXW'HU*HQHUDO ZDU VHKU HUIUHXW 6HOEVWYHUVWlQGOLFK ZXUGH GLH 5HLVH YHUVFKREHQ'LH+RFK]HLWZXUGHIUGHQ)UKOLQJLQ$XVVLFKW JHQRPPHQ 'LH5HLVHKlWWHEULJHQVDXFKQRFKLQGHU0LWWHRGHU JHJHQ (QGHGHV6RPPHUVVWDWWILQGHQN|QQHQZHQQDXFKQXULQ)RUP HLQHV HLQ RGHU ]ZHLPRQDWLJHQ $XVIOXJHV GHU 0XWWHU XQG GHU EHLGHQ LKU YHUEOLHEHQHQ 7|FKWHU XP GHQ 6FKPHU] EHU $GHODLGDV $XVVFKHLGHQ DXV GHU )DPLOLH ]X EHVlQIWLJHQ $EHU HV WUDW ZLHGHU HLQ QHXHV (UHLJQLV HLQ VFKRQ ]X (QGH GHV )UKMDKUV $GHODLGDV +RFK]HLW KDWWH VLFK HWZDV YHU]|JHUW XQG
ZDU QXQ DXI GLH 0LWWH GHV 6RPPHUV DQJHVHW]W ZRUGHQ IKUWH )UVW 6FKWVFK EHL GHU -HSDQWVFKLQVFKHQ )DPLOLH HLQHQ HQWIHUQWHQ9HUZDQGWHQYRQVLFK HLQPLWGHPHUDEHUVHKU JXW EHNDQQWZDU (VZDUGLHVHLQ JHZLVVHU-HZJHQLM3DZORZLWVFK HLQ QRFK VHKU MXQJHU 0DQQ XQJHIlKU DFKWXQG]ZDQ]LJ -DKUH DOW )OJHODGMXWDQW ELOGVFK|Q YRQ ªYRUWUHIIOLFKHU +HUNXQIW© JHLVWUHLFK HOHJDQW ªHLQ $QKlQJHU GHU QHXHQ ,GHHQ© ªKRFKJHELOGHW© XQGXQHUK|UW UHLFK +LQVLFKWOLFK GLHVHV OHW]WHQ 3XQNWHV ZDU GHU *HQHUDO LPPHU VHKU YRUVLFKWLJ (U ]RJ (UNXQGLJXQJHQHLQXQGlXHUWHGDQQª'LH6DFKHVFKHLQWVLFK WDWVlFKOLFK VR ]X YHUKDOWHQ LQGHV LVW GRFK QRFK ZHLWHUH %HVWlWLJXQJ HUIRUGHUOLFK© 'LHVHU MXQJH )OJHODGMXWDQW GHP PDQ HLQH ªJURH =XNXQIW© SURSKH]HLWH HUKLHOW QRFK HLQH EHVRQGHUH(PSIHKOXQJGXUFKGLH$UWZLHVLFKGLHDOWH)UVWLQ %MHORNRQVNDMDLQ0RVNDXLQLKUHQ%ULHIHQEHULKQDXVVSUDFK 1XULQHLQHP3XQNWHZDUVHLQ5XIHWZDVEHGHQNOLFKHUVROOWH PHKUHUH /LHEHVYHUKlOWQLVVH JHKDEW XQG ZLH EHKDXSWHW ZXUGH PHKUHUH ª6LHJH© EHU XQJOFNOLFKH +HU]HQ GDYRQJHWUDJHQ KDEHQ 1DFKGHP HU $JODMD JHVHKHQ KDWWH ZXUGH HU LQ GHU )DPLOLH -HSDQWVFKLQ HLQ EHUDXV KlXILJHU *DVW (U KDWWH ]ZDU QRFK QLFKWV GHXWOLFK DXVJHVSURFKHQ MD QLFKW HLQPDO LUJHQGZHOFKH $QGHXWXQJHQ JHPDFKW DEHU GLH (OWHUQ ZDUHQ GRFK GHU $QVLFKW PDQ PVVH IU GLHVHQ 6RPPHU GHQ 3ODQ HLQHU $XVODQGVUHLVH DXIJHEHQ $JODMD VHOEVW ZDU YLHOOHLFKW DQGHUHU0HLQXQJ 'LHVEHJDEVLFKNXU]EHYRUXQVHU+HOG]XP]ZHLWHQPDODXI GHP 6FKDXSODW] XQVHUHU (U]lKOXQJ HUVFKLHQ =X GLHVHU =HLW ZDU QDFK GHP lXHUHQ 6FKHLQH ]X XUWHLOHQ GHU DUPH )UVW 0\VFKNLQ LQ 3HWHUVEXUJ EHUHLWV YROOVWlQGLJ LQ 9HUJHVVHQKHLW JHUDWHQ:lUHHUMHW]WDXIHLQPDOXQWHUGHQ0HQVFKHQGLHLKQ NDQQWHQHUVFKLHQHQVRZUGHQVLHVREHUUDVFKWJHZHVHQVHLQ DOV RE HU YRP +LPPHO JHIDOOHQ ZlUH $EHU ZLU ZROOHQ LQ]ZLVFKHQ YRQ QRFK HLQHP (UHLJQLV 0LWWHLOXQJ PDFKHQ XQG GDPLWXQVHUH(LQOHLWXQJEHVFKOLHHQ
.ROMD ,ZROJLQ VHW]WH QDFK GHU $EUHLVH GHV )UVWHQ DQIDQJV VHLQ IUKHUHV /HEHQ IRUW GDV KHLW HU JLQJ LQV *\PQDVLXP EHVXFKWHVHLQHQ)UHXQG,SSROLWEHDXIVLFKWLJWHGHQ*HQHUDOXQG KDOI VHLQHU 6FKZHVWHU :DUMD LQ GHU :LUWVFKDIW LQGHP HU /DXIEXUVFKHQGLHQVWH YHUULFKWHWH $EHU GLH 8QWHUPLHWHU YHUVFKZDQGHQ VFKQHOO )HUG\VFKWVFKHQNR ]RJ GUHL 7DJH QDFK GHP 9RUIDOO LQ 1DVWDVMD )LOLSSRZQDV :RKQXQJ DXV XQG ZDU VHKU EDOG YHUVFKROOHQ VR GD PDQ YRQ LKP EHUKDXSW QLFKWV PHKU]XK|UHQEHNDPHVKLHGDHULUJHQGZRWULQNHDEHUHV IHKOWHGDIUGLH%HVWlWLJXQJ'HU)UVWUHLVWHQDFK0RVNDXVR ZDU HV PLW GHQ 8QWHUPLHWHUQ ]X (QGH $OV VLFK GDQQ :DUMD YHUKHLUDWHWH ]RJHQ 1LQD $OH[DQGURZQD XQG *DQMD PLW LKU ]XVDPPHQ ]X 3WL]\Q LQ GDV ,VPDLORZVNLM 3RON ZDV DEHU GHQ *HQHUDO ,ZROJLQ DQODQJW VR EHJHJQHWH LKP IDVW JOHLFK]HLWLJ HWZDVJDQ]8QYRUKHUJHVHKHQHVHUZXUGHLQV6FKXOGJHIlQJQLV JHVHW]W 9HUDQODW KDWWH GLHV VHLQH )UHXQGLQ GLH +DXSWPDQQVIUDX DXI *UXQG GHU 6FKXOGVFKHLQH GLH HU LKU ]X YHUVFKLHGHQHQ =HLWHQ LP *HVDPWEHWUDJ YRQ HWZD ]ZHLWDXVHQG 5XEHOQ JHJHEHQ KDWWH 'DV ZDU IU LKQ HLQH YROOVWlQGLJH hEHUUDVFKXQJXQGGHUDUPH*HQHUDOZDUQXQªHQWVFKLHGHQHLQ 2SIHU VHLQHV ]X ZHLW JHKHQGHQ *ODXEHQV DQ GHQ (GHOPXW GHV PHQVFKOLFKHQ+HU]HQVDOOJHPHLQJHVDJW©'DHUVLFKJHZ|KQW KDWWH6FKXOGVFKHLQHXQG:HFKVHO]XXQWHUVFKUHLEHQRKQHVLFK LPJHULQJVWHQGDUEHU]XEHXQUXKLJHQVRKDWWHHUJDUQLFKWDQ GLH0|JOLFKNHLWJHGDFKWGDVROFKH8UNXQGHQMHPDOVZLUNVDP ZHUGHQ N|QQWHQ VRQGHUQ LPPHU JHPHLQW GDV VHL QXU VR HLQH )RUP 1XQ VWHOOWH VLFK KHUDXV GD HV QLFKW QXU VR HLQH )RUP ZDUª8QGGDVROOPDQVLFKQXQQRFKDXI0HQVFKHQYHUODVVHQ XQG HGHOPWLJ 9HUWUDXHQ VFKHQNHQ© ULHI HU EHNPPHUW DXV DOVHUPLWVHLQHQQHXHQ)UHXQGHQLP7DUDVVRZVFKHQ+DXVHEHL HLQHU )ODVFKH :HLQ VD XQG LKQHQ VHLQH *HVFKLFKWHQ YRQ GHU %HODJHUXQJ YRQ .DUV XQG GHP DXIHUVWDQGHQHQ 6ROGDWHQ HU]lKOWH(UIKUWHGRUWEULJHQVHLQK|FKVWDQJHQHKPHV/HEHQ
1DFKGHP,VPDLORZVNLM5HJLPHQWEHQDQQWHU6WDGWWHLOLQ3HWHUVEXUJ
3WL]\QXQG:DUMDVDJWHQGDGDVIULKQJDQ]GHUULFKWLJH2UW VHL XQG *DQMD VWLPPWH LKQHQ Y|OOLJ EHL 1XU GLH DUPH 1LQD $OH[DQGURZQD ZHLQWH LP VWLOOHQ ELWWHUOLFK ZRUEHU LKUH $QJHK|ULJHQ VHKU YHUZXQGHUW ZDUHQ XQG REZRKO VLH IRUWZlKUHQG NUlQNHOWH VFKOHSSWH VLH VLFK GRFK VRRIW VLH QXU NRQQWH QDFK GHP 6FKXOGJHIlQJQLV XP LKUHQ 0DQQ ]X EHVXFKHQ $EHU VHLW GHP ª=ZLVFKHQIDOO PLW GHP *HQHUDO© ZLH .ROMD VLFK DXVGUFNWH XQG EHUKDXSW VHLW GHU 9HUKHLUDWXQJ VHLQHU 6FKZHVWHU KDWWH VLFK .ROMD IDVW JlQ]OLFK YRQ GHU 2EHUKHUUVFKDIWVHLQHU$QJHK|ULJHQIUHLJHPDFKWXQGHVZDUVR ZHLWJHNRPPHQGDHULQGHUOHW]WHQ=HLWQXUQRFKVHOWHQEHL GHU)DPLOLHHUVFKLHQXQGGRUWEHUQDFKWHWH*HUFKWHQ]XIROJH KDWWH HU HLQH 0HQJH QHXHU %HNDQQWVFKDIWHQ DQJHNQSIW DXHUGHP ZDU HU LP 6FKXOGJHIlQJQLV HLQH VHKU EHNDQQWH (UVFKHLQXQJ JHZRUGHQ 1LQD $OH[DQGURZQD NRQQWH GRUW RKQH LKQJDUQLFKWPLWLKUHP0DQQH]XUHFKWNRPPHQ=X+DXVHDEHU EHOlVWLJWH PDQ LKQ MHW]W QLFKW HLQPDO PLW QHXJLHULJHQ )UDJHQ :DUMDGLHIUKHUVRVWUHQJPLWLKPYHUIDKUHQZDUXQWHUZDUI LKQ MHW]W QLFKW GHP JHULQJVWHQ 9HUK|U EHU VHLQH :DQGHUXQJHQ XQG *DQMD UHGHWH XQG YHUNHKUWH ]XU JURHQ 9HUZXQGHUXQJ VHLQHU $QJHK|ULJHQ PDQFKPDO WURW] VHLQHU +\SRFKRQGULH PLW LKP JDQ] IUHXQGVFKDIWOLFK ZDV IUKHU QLH JHVFKHKHQZDUGDGHUVHFKVXQG]ZDQ]LJMlKULJH*DQMDQDWUOLFK VHLQHP IQI]HKQMlKULJHQ %UXGHU QLFKW GLH JHULQJVWH IUHXQGVFKDIWOLFKH %HDFKWXQJ JHVFKHQNW LKQ JURE EHKDQGHOW DXFK YRQ DOOHQ DQGHUHQ $QJHK|ULJHQ QXU 6WUHQJH JHJHQ LKQ YHUODQJW XQG EHVWlQGLJ JHGURKW KDWWH ªLKQ EHL GHQ 2KUHQ ]X QHKPHQ© ZRGXUFK EHL .ROMD ªGHU OHW]WH 5HVW PHQVFKOLFKHU *HGXOG HUVFK|SIW ZXUGH© 0DQ NRQQWH JODXEHQ GD *DQMD VHLQHQ %UXGHU .ROMD MHW]W PDQFKPDO JHUDGH]X Q|WLJ KDWWH 'LHVHPKDWWHHVQLFKWZHQLJLPSRQLHUWGD*DQMDGDPDOVGDV *HOG]XUFNJHJHEHQKDWWHXQGHUZDUEHUHLWLKPGDIUYLHOHV ]XYHU]HLKHQ
(V ZDUHQ QXQ GUHL 0RQDWH VHLW GHU $EUHLVH GHV )UVWHQ YHUJDQJHQGDK|UWHPDQLQGHU)DPLOLH,ZROJLQGD.ROMDDXI HLQPDO PLW -HSDQWVFKLQV EHNDQQW JHZRUGHQ VHL XQG YRQ GHQ MXQJHQ 0lGFKHQ VWHWV VHKU IUHXQGOLFK DXIJHQRPPHQ ZHUGH :DUMDKDWWHGLHVEDOGHUIDKUHQEULJHQVZDU.ROMDQLFKWGXUFK :DUMD GRUW EHNDQQW JHZRUGHQ VRQGHUQ ªJDQ] DXI HLJHQH )DXVW© $OOPlKOLFK KDWWH PDQ LKQ EHL -HSDQWVFKLQV OLHEJHZRQQHQ 'LH *HQHUDOLQ ZDU LKP DQIlQJOLFK QLFKW VHKU ]XJHWDQ JHZHVHQ KDWWH GDQQ DEHU EDOG DQ LKP *HVFKPDFN JHIXQGHQ ªZHJHQ VHLQHU 2IIHQKHU]LJNHLW XQG ZHLO HU QLFKW VFKPHLFKHOWH© 'D .ROMD QLFKW VFKPHLFKHOWH ZDU GXUFKDXV ULFKWLJHUYHUVWDQGHVPLWLKQHQDXIY|OOLJ JOHLFKHP )XXQG XQWHU:DKUXQJVHLQHU8QDEKlQJLJNHLW]XYHUNHKUHQREZRKOHU GHU*HQHUDOLQPDQFKPDO%FKHUXQG=HLWXQJHQYRUODV±DEHU HU ZDU LPPHU lXHUVW GLHQVWIHUWLJ (LQ SDDUPDO YHU]DQNWH HU VLFK KHIWLJ PLW /LVDZHWD 3URNRIMHZQD XQG HUNOlUWH LKU VLH VHL HLQH 'HVSRWLQ XQG HU ZHUGH NHLQHQ )X PHKU LQ LKU +DXV VHW]HQ 'DV HUVWHPDO ZDU GHU 6WUHLW ZHJHQ GHU ª)UDXHQIUDJH© HQWVWDQGHQ XQG GDV ]ZHLWHPDO ZHJHQ GHU )UDJH ZHOFKH -DKUHV]HLW ]XP =HLVLJIDQJ GLH JHHLJQHWVWH VHL 6R XQZDKUVFKHLQOLFKHVNOLQJHQPDJDEHUGLH*HQHUDOLQVFKLFNWH LKP DP GULWWHQ 7DJH QDFK GHP 6WUHLW GXUFK HLQHQ 'LHQHU HLQ %ULHIFKHQ ]X LQ GHP VLH LKQ GULQJHQG EDW ZLHGHU KLQ]XNRPPHQ .ROMD VWUlXEWH VLFK QLFKW VRQGHUQ VWHOOWH VLFK VRIRUW HLQ 1XU $JODMD ]HLJWH VLFK LKP DXV± HLQHP QLFKW UHFKW YHUVWlQGOLFKHQ *UXQG GDXHUQG QLFKW ZRKOJHQHLJW XQG EHKDQGHOWHLKQVHKUYRQREHQKHUDE8QGGRFKVROOWHHUJHUDGH VLH LQ (UVWDXQHQ YHUVHW]HQ (LQHV 7DJHV ± HV ZDU LQ GHU 2VWHU]HLW±SDWH.ROMDHLQHQ$XJHQEOLFNDEZRHUPLW$JODMD DOOHLQZDUXQGEHUJDELKUHLQHQ%ULHIZREHLHUQXUEHPHUNWH HUVHLDQJHZLHVHQLKQLKUXQWHUYLHU$XJHQ]X]XVWHOOHQ$JODMD ZDUI GHP ªHLQJHELOGHWHQ -XQJHQ© HLQHQ VWUHQJHQ %OLFN ]X DEHU .ROMD ZDUWHWH :HLWHUHV QLFKW DE XQG JLQJ KLQDXV 6LH |IIQHWHGHQ%ULHIXQGODVª6LHKDEHQPLFKIUKHUHLQPDO,KUHV
9HUWUDXHQV JHZUGLJW 9LHOOHLFKW KDEHQ 6LH PLFK MHW]W JDQ] YHUJHVVHQ:LHNRPPWHVGDLFKDQ6LHVFKUHLEH",FKZHLHV QLFKW DEHU HV ZXUGH LQ PLU HLQ XQEHUZLQGOLFKHV 9HUODQJHQ UHJHPLFK,KQHQJHUDGH,KQHQLQV*HGlFKWQLV]XUFN]XUXIHQ :LHRIWKDWWHLFK6LHDOOHGUHLGULQJHQGQ|WLJDEHULFKVDKYRQ ,KQHQ DOOHQ GUHLHQ LPPHU QXU 6LH DOOHLQ ,FK KDEH 6LH Q|WLJ GULQJHQG Q|WLJ 9RQ PLU VHOEVW KDEH LFK ,KQHQ QLFKWV ]X VFKUHLEHQ XQG QLFKWV ]X HU]lKOHQ 'DV ZDU DXFK JDU QLFKW PHLQH$EVLFKWLFKZQVFKHQXUYRQ JDQ]HP+HU]HQGD6LH JOFNOLFKVHLQP|FKWHQ6LQG6LHJOFNOLFK"1XUGDVZROOWHLFK ,KQHQVDJHQ ,KU%UXGHU)UVW/0\VFKNLQ© $OV $JODMD GLHVHQ NXU]HQ XQG UHFKW VLQQORVHQ %ULHI ODV ZXUGH VLH SO|W]OLFK GXQNHOURW XQG YHUVDQN LQ 1DFKGHQNHQ (V ZUGH XQV VFKZHU VHLQ GHQ *DQJ LKUHU *HGDQNHQ DXI]X]HLFKQHQ 8QWHU DQGHUP IUDJWH VLH VLFK ¾6ROO LFK GHQ %ULHI MHPDQGHP ]HLJHQ"½ 6LH VFKlPWH VLFK JHZLVVHUPDHQ 6FKOLHOLFK ZDUI VLH GHQ %ULHI PLW HLQHP VRQGHUEDUHQ VS|WWLVFKHQ/lFKHOQLQGHQ6FKXENDVWHQLKUHV1lKWLVFKHV$P IROJHQGHQ 7DJH QDKP VLH LKQ ZLHGHU KHUDXV XQG OHJWH LKQ LQ HLQ GLFNHV VWDUNHV LQ +DOEIUDQ] JHEXQGHQHV %XFK VR PDFKWH VLH HV LPPHU PLW LKUHQ %ULHIVFKDIWHQ XP VLH UHFKW VFKQHOO ]X ILQGHQVREDOGVLHVLHJHEUDXFKWH (UVWHLQH:RFKHGDUDXIVDK VLH]XIlOOLJZDVHVHLJHQWOLFKIUHLQ%XFKZDULQGHPGLHVHU %ULHI ODJ (V ZDU GHU ª'RQ 4XLMRWH GH OD 0DQFKD© $JODMD ODFKWH ODXW DXI HV LVW VFKZHU ]X VDJHQ ZDUXP $XFK ZLVVHQ ZLUQLFKWREVLHGHQ%ULHIHLQHULKUHU6FKZHVWHUQ]HLJWH $EHUJOHLFKEHLGHU/HNWUHGHV%ULHIHVZDULKUGHU*HGDQNH GXUFK GHQ .RSI JHJDQJHQ ¾+DW VLFK GHQQ ZLUNOLFK GHU )UVW GLHVHQ HLQJHELOGHWHQ JURWXHULVFKHQ -XQJHQ GD]X DXVHUVHKHQ PLWLKP%ULHIH]XZHFKVHOQXQGLVWGLHVHU-XQJHYLHOOHLFKWDP (QGH JDU GHU HLQ]LJH 0HQVFK PLW GHP GHU )UVW KLHU LQ .RUUHVSRQGHQ] VWHKW"½ 6R VHW]WH VLH GHQQ HLQH VHKU JHULQJVFKlW]LJH0LHQHDXIXQGXQWHUZDUI.ROMDHLQHP9HUK|U
$EHU GHU VRQVW LPPHU VHKU HPSILQGOLFKH ª-XQJH© EHDFKWHWH GLHVPDO LKUH *HULQJVFKlW]XQJ QLFKW LP PLQGHVWHQ VHKU NXU] XQGLQUHFKWWURFNHQHP7RQH HUNOlUWHHUGHU )UDJHULQ HU KDEH ]ZDU EHL GHU $EUHLVH GHV )UVWHQ YRQ 3HWHUVEXUJ GLHVHP IU DOOH )lOOH VHLQH VWlQGLJH $GUHVVH PLWJHWHLOW XQG LKP GDEHL VHLQH'LHQVWHDQJHERWHQDEHUGLHVVHLGHUHUVWH$XIWUDJGHQHU YRQLKPHPSIDQJHQKDEHXQGGDVHUVWH6FKUHLEHQDQLKQXQG ]XP%HZHLVHGHU:DKUKHLWGHV*HVDJWHQ]HLJWHHULKUDXFKGHQ %ULHI GHQ HU VHOEVW YRQ GHP )UVWHQ HUKDOWHQ KDWWH $JODMD PDFKWH VLFK NHLQ *HZLVVHQ GDUDXV LKQ ]X OHVHQ ,Q GLHVHP %ULHIHDQ.ROMDVWDQGª/LHEHU.ROMDVHLHQ6LHVRJXWGHQKLHU EHLOLHJHQGHQ%ULHIDQ$JODMD,ZDQRZQDDE]XJHEHQ/DVVHQ6LH VLFK¶VJXWJHKHQ,KU6LHOLHEHQGHU)UVW/0\VFKNLQ©ª(VLVW GRFK NRPLVFK GD HU VLFK HLQHQ VROFKHQ .QLUSV ]XP 9HUWUDXWHQDXVVXFKW©EHPHUNWH$JODMDLQEHOHLGLJHQGHP7RQ JDE .ROMD GHQ %ULHI ]XUFN XQG JLQJ YHUlFKWOLFK DQ LKP YRUEHL 'DV ZDU QXQ GRFK PHKU DOV .ROMD HUWUDJHQ NRQQWH 8QG HU KDWWH QRFK JHUDGH IU GLHVHQ %HVXFK VHLQHQ %UXGHU *DQMD RKQH LKP GHQ *UXQG ]X HUNOlUHQ JHEHWHQ RE HU QLFKW GHVVHQ QRFKJDQ]QHXHJUQH.UDZDWWHXPELQGHQGUIH(UIKOWHVLFK ELWWHUJHNUlQNW
,, (VZDU$QIDQJ-XQLXQGGDV:HWWHUZDULQ3HWHUVEXUJVFKRQ HLQH JDQ]H :RFKH ODQJ DXHURUGHQWOLFK VFK|Q JHZHVHQ -HSDQWVFKLQV EHVDHQ HLQ SUlFKWLJHV HLJHQHV /DQGKDXV LQ 3DZORZVN /LVDZHWD 3URNRIMHZQD ZXUGH DXI HLQPDO XQUXKLJ XQG GUlQJWH ]XP $XIEUXFK QDFK NDXP ]ZHL 7DJHQ
JHVFKlIWLJHU7lWLJNHLW]RJHQVLHXP (LQHQ RGHU ]ZHL 7DJH QDFK GHP 8P]XJ GHU )DPLOLH -HSDQWVFKLQWUDI)UVW /HZ1LNRODMHZLWVFK0\VFKNLQPLW GHP 0RUJHQ]XJ DXV 0RVNDX HLQ (V ZDU QLHPDQG ]X VHLQHP (PSIDQJ DXI GHP %DKQKRI HUVFKLHQHQ DEHU EHLP $XVVWHLJHQ DXVGHP:DJJRQNDPHVLKPDXIHLQPDOVRYRUDOVREDXVGHU 0HQJH GLH GLH PLW GHP =XJ $QJHNRPPHQHQ XPGUlQJWH GHU VHOWVDPHEUHQQHQGH%OLFN]ZHLHU$XJHQDXILKQJHULFKWHWVHL $OVHUMHGRFKDXIPHUNVDPHUKLQVFKDXWHNRQQWHHUQLFKWVPHKU ZDKUQHKPHQ*HZLZDUHVLKPQXUVRYRUJHNRPPHQDEHUHV EOLHE GRFK EHL LKP HLQH XQDQJHQHKPH (PSILQGXQJ ]XUFN =XGHPZDUGHU )UVW DXFK RKQHGLHV WUDXULJ XQG QDFKGHQNOLFK XQGVFKLHQDXVLUJHQGHLQHP*UXQGLQ6RUJH]XVHLQ (LQ 'URVFKNHQNXWVFKHU IXKU LKQ QDFK HLQHP *DVWKRI LQ GHU /LWHMQDMD±6WUDH 'DV *DVWKDXV ZDU VHKU lUPOLFK 'HU )UVW HUKLHOW]ZHLNOHLQHGXQNOHVFKOHFKWP|EOLHUWH=LPPHUZXVFK VLFK XQG NOHLGHWH VLFK XP GDQQ JLQJ HU RKQH HWZDV ]X JHQLHHQ HLOLJ DXV ZLH ZHQQ HU =HLW ]X YHUOLHUHQ RGHU MHPDQGHQQLFKW]X+DXVHDQ]XWUHIIHQIUFKWHWH :HQQHLQHUYRQGHQ/HXWHQGLHLKQYRUHLQHPKDOEHQ-DKUH EHL VHLQHP HUVWHQ $XIHQWKDOW LQ 3HWHUVEXUJ NHQQHQJHOHUQW KDWWHQLKQMHW]WJHVHKHQKlWWHVRZUGHHUYLHOOHLFKWJHIXQGHQ KDEHQ GD VHLQ bXHUHV VLFK VHKU YRUWHLOKDIW YHUlQGHUW KDEH 8QGGRFKZDUGDVNDXPGHU)DOO1XUGLH.OHLGXQJZDUY|OOLJ DQGHUV JHZRUGHQ HU WUXJ MHW]W HLQHQ LQ 0RVNDX YRQ HLQHP JXWHQ 6FKQHLGHU JHDUEHLWHWHQ $Q]XJ DEHU GLHVHU $Q]XJ KDWWH HLQHQ )HKOHU HU ZDU JDU ]X VHKU QDFK GHU 0RGH DQJHIHUWLJW ZLH GDV JHZLVVHQKDIWH DEHU QLFKW VHKU WDOHQWYROOH 6FKQHLGHU LPPHUPDFKHQ XQGQRFKGD]XIUHLQHQ0HQVFKHQGHUGDUDXI QLFKW GHQ JHULQJVWHQ :HUW OHJWH VR GD HLQ EHVRQGHUV /DFKOXVWLJHU EHL HLQHP DXIPHUNVDPHQ %OLFN DXI GHQ )UVWHQ YLHOOHLFKW $QOD JHIXQGHQ KlWWH ]X OlFKHOQ $EHU ZDV NRPPW GHQ/HXWHQQLFKWDOOHVOlFKHUOLFKYRU 'HU )UVW QDKP HLQH 'URVFKNH XQG IXKU QDFK GHQ 3HVNL ,Q
HLQHU GHU 5RVKGHVWZHQVNLM6WUDHQ IDQG HU EDOG HLQ NOHLQHV +RO]KlXVFKHQ =X VHLQHU 9HUZXQGHUXQJ SUlVHQWLHUWH VLFK GLHVHV+lXVFKHQlXHUOLFKUHFKWKEVFKHVZDUVDXEHUJXWLQ 2UGQXQJ JHKDOWHQ XQG KDWWH HLQHQ 9RUJDUWHQ LQ GHP %OXPHQ ZXFKVHQ'LH )HQVWHUQDFKGHU6WUDH]XZDUHQ JH|IIQHWXQG DXV LKQHQ K|UWH PDQ HLQ ODXWHV XQDXIK|UOLFKHV 6SUHFKHQ MD IDVW HLQ 6FKUHLHQ ZLH ZHQQ MHPDQG ODXW ODV |GHU HLQH 5HGH KLHOW DE XQG ]X ZXUGH GLHVH 6WLPPH GXUFK GDV /DFKHQ PHKUHUHUDQGHUHUKHOOHU6WLPPHQXQWHUEURFKHQ'HU)UVWJLQJ LQGHQ+RIVWLHJHLQSDDU6WXIHQKLQDQXQGIUDJWHQDFK+HUUQ /HEHGHZ ª'D LVW HU© DQWZRUWHWH GLH .|FKLQ GLH GLH 7U JH|IIQHW KDWWH 6LH KDWWH GLH bUPHO ELV ]XP (OOERJHQ DXIJHVWUHLIWXQGZLHVPLWGHP)LQJHUQDFKGHPª6DORQ©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|UHU ZDUHQ HLQ IQI]HKQMlKULJHU .QDEHGHUHLQ UHFKWOXVWLJHVNOXJHV *HVLFKW KDWWHXQGHLQ%XFKLQGHU+DQGKLHOWHLQHWZD]ZDQ]LJMlKULJHV MXQJHV0lGFKHQ JDQ]LQ7UDXHUNOHLGXQJPLWHLQHP 6lXJOLQJ DXI GHP $UP HLQ GUHL]HKQMlKULJHV 0lGFKHQ JOHLFKIDOOV LQ 7UDXHUGDVVHKUKHU]OLFKODFKWHXQGGDEHLGHQ0XQGJHZDOWLJ ZHLWDXIULXQGHQGOLFKHLQVHKUVRQGHUEDUHU=XK|UHU HLQDXI GHP 6RID OLHJHQGHU MXQJHU 0DQQ YRQ HWZD ]ZDQ]LJ -DKUHQ VHKU KEVFK PLW ODQJHP GLFKWHP GXQNOHP +DDU JURHQ VFKZDU]HQ$XJHQXQGHLQHPNOHLQHQ $QIOXJYRQ%DUW'LHVHU =XK|UHUVFKLHQGHQ5HGHQGHQKlXILJ]XXQWHUEUHFKHQXQGLKP
]X ZLGHUVSUHFKHQ XQG GDUEHU ODFKWH ZDKUVFKHLQOLFK GDV EULJH3XEOLNXP ª/XNMDQ 7LPRIHMLWVFK /XNMDQ 7LPRIHMLWVFK 6RK|UGRFK6LHKGRFKPDOKHU1DEHLHXFKLVWDXFKDOOHV YHUJHEHQV© 0LW HLQHU ZHJZHUIHQGHQ +DQGEHZHJXQJ JLQJ GLH .|FKLQ IRUW VLH lUJHUWH VLFK VR GD VLH JDQ] URW JHZRUGHQ ZDU /HEHGHZ VDK VLFK XP XQG VWDQG DOV HU GHQ )UVWHQ HUEOLFNWH HLQH :HLOH ZLH YRP 'RQQHU JHUKUW GDQQ VWU]WH HU PLW XQWHUZUILJHP/lFKHOQDXILKQ]XPDFKWHDEHUXQWHUZHJVYRQ QHXHP KDOW XQG VDJWH QXU ª'XUFK±GXUFK±GXUFKODXFKWLJVWHU )UVW© $EHU DOV N|QQH HU VHLQH )DVVXQJ LPPHU QRFK QLFKW ZLHGHUJHZLQQHQ GUHKWH HU VLFK DXI HLQPDO XP XQG VWU]WH RKQH MHGH 9HUDQODVVXQJ ]XQlFKVW DXI GDV 0lGFKHQ LQ 7UDXHU ]X GDV GDV .LQG DXI GHP $UPH KLHOW VR GD GLHVH YRU hEHUUDVFKXQJXQG6FKUHFN]XUFNZDQNWHGDQQDEHUOLHHUVLH XQG VWUPWH DXI GDV GUHL]HKQMlKULJH 0lGFKHQ ORV GDV LQ GHU QDFKGHP1HEHQ]LPPHUIKUHQGHQ7UDXIGHU6FKZHOOHVWDQG XQGDXI GHVVHQ *HVLFKW DOV hEHUUHVW GHV NXU] YRUKHUJHKHQGHQ /DFKHQVQRFKHLQ/lFKHOQODJ6LHKLHOWGHP$QVFKUHLHQQLFKW VWDQG VRQGHUQ IOFKWHWH VRJOHLFK LQ GLH .FKH /HEHGHZ VWDPSIWHKLQWHULKUVRJDUPLWGHQ)HQDXIGHQ%RGHQXPVLH QRFK PHKU ]X HUVFKUHFNHQ DEHU DOV HU GHP %OLFN GHV )UVWHQ EHJHJQHWH GHU LKQ YHUOHJHQ DQVDK VDJWH HU ]XU (UNOlUXQJ ª1XUQXUDXV(KUHUELHWXQJKHKHKH©ª$EHU6LHPDFKHQVLFK XQQ|WLJH0KH©EHJDQQGHU)UVWª6RIRUWVRIRUWVRIRUW VFKQHOOZLHGHU:LQG© 'DPLWOLHI/HEHGHZUDVFKDXVGHP=LPPHU(UVWDXQWEOLFNWH GHU )UVW GDV MXQJH 0lGFKHQ GHQ .QDEHQ XQG GHQ DXI GHP 6RIDOLHJHQGHQMXQJHQ0DQQDQGLHDOOHGUHLODFKWHQ$XFKGHU )UVW ILQJ DQ ]X ODFKHQ ª(U LVW JHJDQJHQ VLFK GHQ )UDFN DQ]X]LHKHQ©VDJWHGHU.QDEHª(VWXWPLUDXHURUGHQWOLFKOHLG © EHJDQQ GHU )UVW ª,FK GDFKWH VFKRQ 6DJHQ 6LH LVW HU YLHOOHLFKW © ª6LH PHLQHQ EHWUXQNHQ"© ULHI HLQH 6WLPPH YRP
6RIDKHUª1LFKWGLH6SXU(UKDWYLHOOHLFKWGUHLELVYLHU*OlVHU JHWUXQNHQQDRGHUDXFKIQIDEHUZDVZLOOGDVEHGHXWHQ"'DV LVWMDJDQ]QRUPDO© 'HU)UVWZROOWHVLFKGHUYRP6RIDKHUNRPPHQGHQ6WLPPH ]XZHQGHQ DEHU QXQ EHJDQQ GDV MXQJH 0lGFKHQ ]X VSUHFKHQ XQG VDJWH PLW GHP RIIHQKHU]LJVWHQ $XVGUXFN DXI LKUHP KEVFKHQ*HVLFKW ª9RUPLWWDJVWULQNWHU QLH YLHO ZHQQ 6LH LQ HLQHUJHVFKlIWOLFKHQ$QJHOHJHQKHLW]XLKPKHUJHNRPPHQVLQG GDQQ UHGHQ 6LH MHW]W PLW LKP HV LVW JHUDGH GLH UHFKWH =HLW :HQQ HU DEHQGV QDFK +DXVH NRPPW GDQQ LVW HU DOOHUGLQJV PDQFKPDO EHWUXQNHQ DEHU MHW]W ZHLQW HU PHLVWHQV ELV LQ GLH 1DFKW KLQHLQ XQG OLHVW XQV DXV GHU +HLOLJHQ 6FKULIW YRU ZHLO XQVHUH 0XWWHU YRU IQI :RFKHQ JHVWRUEHQ LVW© ª(U LVW ZDKUVFKHLQOLFK GHVZHJHQ ZHJJHODXIHQ ZHLO HU QRFK QLFKW UHFKW ZXWH ZDV HU ,KQHQ DQWZRUWHQ VROO© ULHI ODFKHQG YRP 6RID KHU GHU MXQJH 0DQQ ª,FK P|FKWH ZHWWHQ GD HU YRUKDW 6LH ]X EHWUJHQ XQG VLFK MHW]W EHUOHJW ZLH HU HV DQVWHOOHQ VROO©ª(UVWYRUIQI:RFKHQ(UVWYRUIQI:RFKHQ©ILHOGHU ]XUFNNHKUHQGH /HEHGHZ HLQ GHU LQ]ZLVFKHQ GHQ )UDFN DQJH]RJHQKDWWH (UEOLQ]HOWHPLWGHQ$XJHQXQG]RJHLQ7DVFKHQWXFKDXVGHU 7DVFKHXPVLFKGLH7UlQHQDE]XZLVFKHQª0HLQH.LQGHUVLQG PXWWHUORV© ª$EHU ZDUXP NRPPHQ 6LH GHQQ LQ GLHVHP ]HUOXPSWHQ$Q]XJKHUHLQ"©VDJWHGDV0lGFKHQª'DKLQWHUGHU 7UKDEHQ6LHMDHLQHQJDQ]QHXHQhEHUURFNOLHJHQKDEHQ6LH LKQ QLFKW JHVHKHQ QHLQ"© ª6FKZHLJ VWLOO GX 6FKZlW]HULQ© VFKULH/HEHGHZVLHDQª:LOOVWGXZRKO©(UWUDPSHOWHZLHGHU PLW GHQ )HQ $EHU GLHVHV 0DO ODFKWH VLH QXU ª:DUXP YHUVXFKHQ6LHPLFK]XHUVFKUHFNHQ",FKELQMDQLFKW7DQMDLFK ZHUGHQLFKWGDYRQODXIHQ©VDJWHVLHª6LHZHUGHQQRFKXQVHUH NOHLQH /MXERWVFKND KLHU DXIZHFNHQ XQG GDQQ ZLUG VLH QRFK .UlPSIHEHNRPPHQ:HVKDOEVFKUHLHQ6LHGHQQVR"©ª1HLQ QHLQ QHLQ 6FKZHLJ VFKZHLJ © YHUVHW]WH /HEHGHZ LQ JU|WHU %HVWU]XQJ OLHI ]X GHP .LQG KLQ GDV DXI GHP $UP
VHLQHU 7RFKWHU VFKOLHI XQG EHNUHX]LJWH HV PLW HUVFKURFNHQHU 0LHQH PHKUPDOV ª+HUU *RWW HUKDOWH VLH PLU +HUU *RWW HUKDOWH VLH PLU 'DV LVW PHLQH .OHLQVWH PHLQH 7RFKWHU /MXERZ© ZDQGWH HU VLFK DQ GHQ )UVWHQ ªVLH LVW LQ OHJLWLPHU (KH YRQ PHLQHU XQOlQJVW YHUVWRUEHQHQ *DWWLQ -HOHQD JHERUHQ GLH LP :RFKHQEHWWH VWDUE 8QG GLHVHU .LHELW] KLHU LVW PHLQH 7RFKWHU:HUDLQ7UDXHUNOHLGXQJ8QGGLHVHUGLHVHUMDGLHVHU © ª1XQ" %LVW GX VWHFNHQJHEOLHEHQ"© ULHI GHU MXQJH 0DQQ ª6R IDKU GRFK IRUW 6HL QLFKW YHUOHJHQ© ª'XUFKODXFKW© ULHI /HEHGHZ SO|W]OLFK PLW +HIWLJNHLW ª+DEHQ 6LH YRQ GHU (UPRUGXQJGHU)DPLOLH6KHPDULQLQGHQ=HLWXQJHQJHOHVHQ"© ª-D LFK KDEH GDYRQ JHOHVHQ© HUZLGHUWH GHU )UVW HLQLJHUPDHQYHUZXQGHUWª1XQGDVLVWKLHUGHUZDKUH0|UGHU GHU )DPLOLH 6KHPDULQ HU LVW HV HU© ª$EHU ZDV UHGHQ 6LH© YHUVHW]WH GHU )UVW ª'DV KHLW LP EHUWUDJHQHQ 6LQQH HU LVW GHU NQIWLJH ]ZHLWH 0|UGHU HLQHU NQIWLJHQ ]ZHLWHQ )DPLOLH 6KHPDULQ ZHQQ HV QRFK HLQPDO HLQH VROFKH JHEHQ ZLUG 'DUDXIEHUHLWHWHUVLFKMHW]WVFKRQYRU© $OOH ODFKWHQ 'HP )UVWHQ NDP GHU *HGDQNH /HEHGHZ PDFKHYLHOOHLFKWZLUNOLFKGLHVH:LQNHO]JHXQG6HLWHQVSUQJH QXUGHVKDOEZHLOHUVHLQH)UDJHQYRUDXVVHKHQLFKWZLVVHZDV HU GDUDXI DQWZRUWHQ VROOH XQG =HLW ]X JHZLQQHQ VXFKH ª(U UHYROWLHUW(UVWLIWHW9HUVFKZ|UXQJHQDQ©VFKULH/HEHGHZDOV ZHQQHUQLFKWPHKUGLH.UDIWKlWWHVLFK]XEHKHUUVFKHQ ª1D ELQ LFK GHQQ LPVWDQGH QD ELQ LFK GHQQ EHUHFKWLJW HLQHQ VROFKHQ9HUOHXPGHUHLQHQVROFKHQ:VWOLQJXQG8QPHQVFKHQ DOV PHLQHQ OHLEOLFKHQ 1HIIHQ DOV GHQ HLQ]LJHQ 6RKQ PHLQHU VHOLJHQ 6FKZHVWHU $QLV MD DQ]XHUNHQQHQ"© ª+|U GRFK DXI GX EHWUXQNHQHV6XEMHNW.|QQHQ6LHHVJODXEHQ)UVWMHW]WLVWHU DXI GHQ (LQIDOW JHNRPPHQ VLFK PLW $GYRNDWXU ]X EHIDVVHQ XQG 9HUWUHWXQJHQ YRU *HULFKW ]X EHUQHKPHQ HU KDW VLFK DXI GLH5KHWRULNJHZRUIHQXQGUHGHWPLWVHLQHQ.LQGHUQLP+DXVH LPPHUQXUQRFKLPK|KHUHQ6WLO9RUIQI7DJHQKDWHUYRUGHQ )ULHGHQVULFKWHUQ JHVSURFKHQ 8QG ZHQ KDW HU GD YHUWHLGLJW"
1LFKWGLHDOWH)UDXGLHLKQJHEHWHQXQGDQJHIOHKWKDWWHXQGGLH YRQVRHLQHP6FKXIWYRQ:XFKHUHUDXVJHSOQGHUWZRUGHQZDU ± IQIKXQGHUW 5XEHO GLH LKU JHK|UWHQ LKU JDQ]HV 9HUP|JHQ KDWWH GHU 0HQVFK VLFK DQJHHLJQHW ± VRQGHUQ HEHQ GLHVHQ :XFKHUHUVHOEVWHLQHQJHZLVVHQ6HLGOHUHLQHQ-XGHQZHLOGHU YHUVSURFKHQ KDWWH LKP IQI]LJ 5XEHO ]X JHEHQ © ª)QI]LJ 5XEHOZHQQLFKGHQ3UR]H JHZLQQHXQGQXUIQIZHQQLFK LKQ YHUOLHUH© HUNOlUWH /HEHGHZ DXI HLQPDO LQ HLQHU JDQ] DQGHUHQ7RQDUWDOVHUELVKHUJHVSURFKHQKDWWHXQGDOVKlWWHHU QLHJHVFKULHQª1DHUKDWQDWUOLFKQLFKWVDXVJHULFKWHWHVJHKW MHW]WEHL*HULFKWQLFKWPHKUVR]XZLHHKHPDOVPDQKDWLKQGD QXU DXVJHODFKW $EHU HU ZDU PLW VLFK VHKU ]XIULHGHQ ¾'HQNHQ 6LHGDUDQPHLQHXQSDUWHLLVFKHQ+HUUHQ5LFKWHU½KDWHUJHVDJW ¾GD HLQ XQJOFNOLFKHU *UHLV GHU QLFKW JHKHQ NDQQ XQG YRQ VHLQHU HKUOLFKHQ $UEHLW OHEW VHLQHV OHW]WHQ 6WFNHV %URW EHUDXEW ZLUG GHQNHQ 6LH DQ GLH ZHLVHQ :RUWH GHV *HVHW]JHEHUV ª,P *HULFKW VROO 0LOGH KHUUVFKHQ©½ 8QG N|QQHQ 6LH HV JODXEHQ" -HGHQ 0RUJHQ GHNODPLHUW HU XQV KLHU GLHVHOEH5HGHYRU:RUWIU:RUWZLHHU VLH GD JHKDOWHQ KDW HVLVWKHXWHGDVIQIWHPDOGDHUVLHXQVYRUJHWUDJHQKDWMHW]W HEHQ EHYRU 6LH NDPHQ VR JXW KDW VLH LKP JHIDOOHQ (U OHFNW VLFK GDUEHU GLH /LSSHQ 8QG HU KDW YRU QRFK VR HLQHQ ]X YHUWHLGLJHQ 6LH VLQG MD ZRKO )UVW 0\VFKNLQ" .ROMD KDW PLU YRQ,KQHQJHVDJW6LHVHLHQGHUNOJVWH0HQVFKGHULKPELVKHU DXI GHU :HOW YRUJHNRPPHQ ZlUH © ª'DV VWLPPW 'DV VWLPPW 'HU NOJVWH 0HQVFK DXI GHU :HOW© ILHO /HEHGHZ VRIRUWHLQª1DGHUKLHUVFKZDW]WGDVDOOHUGLQJVQXUVRKLQ'HU HLQHOLHEW6LHXQGGHUDQGHUHP|FKWHVLFKEHL ,KQHQLQ *XQVW VHW]HQ DEHU LFK EHDEVLFKWLJH GXUFKDXV QLFKW ,KQHQ ]X VFKPHLFKHOQ GDV VDJH LFK ,KQHQ HLQ IU DOOHPDO 6LH VLQG MD GRFK HLQ XUWHLOVIlKLJHU 0HQVFK VHLHQ 6LH 6FKLHGVULFKWHU ]ZLVFKHQ PLU XQG LKP 1D ELVW GX GDPLW HLQYHUVWDQGHQ GD GHU)UVWHVEHUQLPPWXQVHU6FKLHGVULFKWHU]XVHLQ"©ZDQGWH HU VLFK DQ VHLQHQ 2QNHO ª,FK ELQ RUGHQWOLFK IURK )UVW GD
6LH JHUDGH KHUJHNRPPHQ VLQG© ª-D LFK ELQ GDPLW HLQYHUVWDQGHQ© ULHI /HEHGHZ LQ HQWVFKORVVHQHP 7RQ XQG VDK VLFK XQZLOONUOLFK QDFK GHP 3XEOLNXP XP GDV ZLHGHU KHUDQ]XUFNHQ EHJDQQ ª$EHU ZDV KDEHQ 6LH GHQQ HLJHQWOLFK PLWHLQDQGHU"© IUDJWH GHU )UVW XQG UXQ]HOWH HLQ ZHQLJ GLH 6WLUQ (U KDWWH ZLUNOLFK .RSIVFKPHU]HQ XQG JHODQJWH DXHUGHP LPPHU PHKU ]X GHU hEHU]HXJXQJ GD /HEHGHZ LKP HWZDV YRUPDFKWH XQG VLFK GDUEHU IUHXWH GD GLH +DXSWVDFKH KLQDXVJHVFKREHQ ZXUGH ª$OVR 'DUOHJXQJ GHV 7DWEHVWDQGHV ,FKELQVHLQ1HIIHGDULQKDWHUQLFKWJHORJHQREZRKOHUVRQVW LPPHUOJW,FKKDEHPHLQ6WXGLXPQLFKWEHHQGHWDEHULFKZLOO HV EHHQGHQ XQG ZHUGH PHLQH $EVLFKW GXUFKVHW]HQ GHQQ LFK KDEH HLQHQ HQHUJLVFKHQ &KDUDNWHU ,Q]ZLVFKHQ DEHU ZLOO LFK XP ]X H[LVWLHUHQ HLQH 6WHOOXQJ EHL GHU (LVHQEDKQ PLW IQIXQG]ZDQ]LJ 5XEHO *HKDOW DQQHKPHQ ,FK EHNHQQH DXHUGHP GD HU PLU VFKRQ ]ZHL RGHU GUHLPDO JHKROIHQ KDW ,FKEHVD]ZDQ]LJ5XEHOXQGKDEHVLHYHUVSLHOW.|QQHQ6LHHV JODXEHQ)UVWLFKZDUVRJHPHLQXQGQLFKWVZUGLJGDV*HOG ]XYHUVSLHOHQ© ª$QHLQHQ6FKXUNHQ DQHLQHQ6FKXUNHQ GHP HU EHUKDXSW QLFKWV KlWWH EH]DKOHQ VROOHQ© VFKULH /HEHGHZ ª-DDQHLQHQ6FKXUNHQDEHUEH]DKOHQPXWHLFKHVLKP©IXKU GHU MXQJH 0DQQ IRUW ª'D HU HLQ 6FKXUNH LVW NDQQ DXFK LFK EH]HXJHQ XQG ]ZDU QLFKW GHVZHJHQ ZHLO HU GLFK GXUFKJHSUJHOW KDW (V LVW GDV QlPOLFK HLQ LQ VHLQHU .DUULHUH JHVFKHLWHUWHU2IIL]LHU HLQ /HXWQDQW D ' YRQ GHU HKHPDOLJHQ 5RJRVKLQVFKHQ .RKRUWH HU HUWHLOW 8QWHUULFKW LP %R[HQ 'LH WUHLEHQVLFKMHW]WDOOHKLHUXQGGDXPKHUVHLWGHP5RJRVKLQVLH ZHJJHMDJWKDW$EHUGDVDOOHUlUJVWHZDUGDLFKZXWHGDHU HLQ6FKXUNHHLQ7DXJHQLFKWVXQG'LHEZDUXQGPLFKGRFKPLW LKP]XP6SLHOKLQVHW]WHXQGGDLFKDOVLFKGHQOHW]WHQ5XEHO VHW]WHZLUVSLHOWHQ3DONL EHLPLUGDFKWH¾:HQQLFKYHUOLHUH JHKHLFK]X2QNHO /XNMDQXQGIDOOHLKP]X)HQHUZLUGHV
(LQ+DVDUGVSLHOPLW.DUWHQ
PLU QLFKW DEVFKODJHQ½ 'DV ZDU HLQH XQZUGLJH +DQGOXQJVZHLVH HLQH JDQ] XQZUGLJH +DQGOXQJVZHLVH 'DV ZDU HLQH EHZXWH *HPHLQKHLW© ª-D GDV ZDU HLQH EHZXWH *HPHLQKHLW©ZLHGHUKROWH/HEHGHZª1DWULXPSKLHUHQLFKW]X IUK ZDUWH QRFK© ULHI GHU 1HIIH EHOHLGLJW ª(U IUHXW VLFK VFKRQ,FKNDP]XLKPKLHUKHU)UVWXQGEHNDQQWHLKPDOOHV LFK KDQGHOWH HKUHQKDIW XQG EHVFK|QLJWH QLFKWV ZDV LFK JHWDQ KDWWHLFKVFKLPSIWHYRUVHLQHQ2KUHQDXIPLFKVHOEVWPLWGHQ VWl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¶V GHU 7HXIHO .HQQW HU PLFK GHQQ HWZD QLFKW" )UDJHQ 6LH LKQ VHOEVW )UVW KDEH LFK LKP QLFKW MHGHVPDO ZHQQ HU PLU IUKHU JHKROIHQ KDWWH GDV *HOG ]XUFNEH]DKOW" :DUXP ZLOO HU GHQQ QXQ GLHVPDO QLFKW" (U LVW lUJHUOLFK GDUEHU GD LFK DQ GLHVHQ /HXWQDQW PHLQHQ 6SLHOYHUOXVW EH]DKOW KDEH GDV LVW GHU HLQ]LJH *UXQG 6R HLQ 0HQVFK LVW GDV HU J|QQW ZHGHU VLFK QRFK HLQHP DQGHUQ HWZDV©ª8QGQXQJHKWHUQLFKWZHJ©VFKULH/HEHGHZª(UKDW VLFK KLHU KLQJHOHJW XQG JHKW QLFKW ZHJ© ª'DV KDEH LFK GLU MD
JHVDJW ,FK JHKH QLFKW ZHJ HKH GX PLU QLFKW GDV *HOG JLEVW :DUXP OlFKHOQ 6LH )UVW" 6LH ILQGHQ ZRKO GD LFK XQUHFKW KDEH"© ª,FKOlFKOHQLFKWDEHUPHLQHU$QVLFKWQDFKKDEHQ6LH LQ GHU 7DW ELV ]X HLQHP JHZLVVHQ *UDGH XQUHFKW© DQWZRUWHWH GHU)UVWPLW:LGHUVWUHEHQª6RVDJHQ6LHGRFKJHUDGHKHUDXV GD LFK JDQ] XQG JDU XQUHFKW KDEH XQG PDFKHQ 6LH NHLQH JHZXQGHQHQ5HGHQVDUWHQ:DVVROOGDVKHLHQ¾ELV]XHLQHP JHZLVVHQ *UDGH½"© ª1XQ ZHQQ 6LH ZROOHQ GDQQ DXFK JDQ] XQG JDU XQUHFKW© ª:HQQ LFK ZLOO /lFKHUOLFK 'HQNHQ 6LH GHQQLFKZHLQLFKWVHOEVWGDPHLQH+DQGOXQJVZHLVH HWZDV %HGHQNOLFKHV KDW GD GDV *HOG LKP JHK|UW GD HU VHLQHQ IUHLHQ :LOOHQ KDW XQG GD GDV ZDV LFK WXH DXI (USUHVVXQJ KLQDXVOl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lFKHOQ" 6LH JODXEHQ PLU QLFKW"© ª0LU VFKHLQW GD GDV DOOHV PLW ,KUHU 6DFKH QLFKWV ]X WXQ KDW© EHPHUNWH GHU )UVW ª,FK OLHJH KLHU QXQ VFKRQ GHQ GULWWHQ 7DJ XQG ZDV KDEH LFK QLFKW DOOHV ]X VHKHQ EHNRPPHQ© ULHI GHU MXQJH 0DQQ RKQH KLQ]XK|UHQ ª.|QQHQ6LH VLFK YRUVWHOOHQ GD HU GLHVHQ (QJHO KLHU GLHVHV MXQJH MHW]W PXWWHUORVH 0lGFKHQ PHLQH .XVLQH VHLQH 7RFKWHU YHUGlFKWLJW XQG LQ LKUHP 6FKODI]LPPHU MHGH 1DFKW QDFK /LHEKDEHUQ VXFKW $XFK ]X PLU SIOHJW HU OHLVH
KHUHLQ]XNRPPHQ XQG XQWHU GHP 6RID DXI GHP LFK OLHJH QDFK]XVHKHQ (U LVW YRU 0LWUDXHQ YHUUFNW JHZRUGHQ LQ MHGHP:LQNHOYHUPXWHWHU'LHEH'LHJDQ]H1DFKWEHUVSULQJW HUMHGHQ$XJHQEOLFNDXVGHP%HWWVLHKWQDFKGHQ)HQVWHUQRE VLHDXFKJXWJHVFKORVVHQVLQGIDWGLH7UHQDQJXFNWLQGHQ 2IHQ XQG VR WUHLEW HU HV MHGH 1DFKW HWZD VLHEHQPDO 9RU *HULFKWYHUWHLGLJWHU*DXQHUXQGHUVHOEVWYHUULFKWHWGUHLPDOLQ MHGHU1DFKWVHLQH*HEHWHKLHULP6DORQHUOLHJWGDEHLDXIGHQ .QLHQ XQG VFKOlJW ZRKO HLQH KDOEH 6WXQGH ODQJ PLW GHU 6WLUQ DXIGHQ)XERGHQ8QGIUZHQHUQLFKWDOOHVEHWHW:DVUHGHW HUGDEHLQLFKWDOOHVLQVHLQHU7UXQNHQKHLWKHU(UKDWVFKRQIU GDV 6HHOHQKHLO GHU *UlILQ 'XEDUU\ JHEHWHW LFK KDEH HV PLW PHLQHQHLJHQHQ2KUHQJHK|UW.ROMDKDWHVDXFKJHK|UWHULVW JDQ]YHUUFNWJHZRUGHQ© ª6HKHQ 6LH QXU K|UHQ 6LH QXU ZLH HU PLFK EHVFKLPSIW )UVW© VFKULH /HEHGHZ GHU JDQ] URW JHZRUGHQ XQG ZLUNOLFK DXHU VLFK ZDU ª$EHU GDV ZHL HU QLFKW GD LFK GHU 7UXQNHQEROG XQG /LHGHUMDQ GHU 5lXEHU XQG hEHOWlWHU LKQ GLHVHQ 6S|WWHU DOV HU QRFK HLQ JDQ] NOHLQHV .LQG ZDU LQ :LQGHOQ JHZLFNHOW XQG LQ GHU :DQQH JHEDGHW KDEH XQG GD LFK VHOEVW HLQ EHWWHODUPHU 0HQVFK EHL PHLQHU YHUZLWZHWHQ EHWWHODUPHQ 6FKZHVWHU $QLVMD GLH 1lFKWH EHU RKQH ]X VFKODIHQDXIJHVHVVHQXQGVLHEHLGHZlKUHQGLKUHU.UDQNKHLWHQ JHSIOHJWXQGGHP+DXVNQHFKW+RO]JHVWRKOHQXQGLKQHQ/LHGHU YRUJHVXQJHQ XQG GD]X PLW GHQ )LQJHUQ JHVFKQLSVW KDEH XQG GDV DOOHV PLW KXQJULJHP 0DJHQ -D VR KDEH LFK LKQ JHSIOHJW XQGQXQODFKWHUEHUPLFK8QGZDVNPPHUWGLFKGDVZHQQ LFKDXFKZLUNOLFKHLQPDOIUGDV6HHOHQKHLOGHU*UlILQ'XEDUU\ PHLQH6WLUQEHNUHX]LJWKlWWH" 9RU GUHL 7DJHQ )UVW KDEH LFK ]XP HUVWHQPDO LQ PHLQHP /HEHQ LKUH %LRJUDSKLH LP .RQVHUYDWLRQVOH[LNRQ JHOHVHQ :HLW GX GHQQ EHUKDXSW ZHU GLH*UlILQ'XEDUU\ZDU"6DJZHLWGXHVRGHUQLFKW"©ª1DGX ELVW ZRKO GHU HLQ]LJH GHU GDV ZHL© PXUPHOWH GHU MXQJH 0DQQVS|WWLVFKDEHUHWZDVJH]ZXQJHQª'DVZDUHLQH*UlILQ
GLH DXV GHU 6FKDQGH KHUYRUJHJDQJHQ ZDU XQG GDQQ ZLH HLQH .|QLJLQ UHJLHUWH XQG GLH YRQ HLQHU JURHQ .DLVHULQ LQ HLQHP HLJHQKlQGLJHQ 6FKUHLEHQ ¾PD FRXVLQH½ DQJHUHGHW ZXUGH (LQ .DUGLQDOGHUSlSVWOLFKH1XQWLXVHUERWVLFKEHLPOHYHUGXURL ZHLWGXZDVGDVLVWOHYHUGXURL" LKUGLHVHLGHQHQ6WUPSIH SHUV|QOLFK DXI GLH QDFNWHQ )H ]X ]LHKHQ XQG PHLQWH QRFK GDV VHL IU LKQ HLQH JURH (KUH ± VR HLQH KRKH KHLOLJH 3HUV|QOLFKNHLW:HLWGXGDV",FKVHKHGLUDP*HVLFKWDQGD GX HV QLFKW ZHLW 1D XQG ZLH LVW VLH JHVWRUEHQ" $QWZRUWH ZHQQ GX HV ZHLW© ª6FKHU GLFK ZHJ /D PLFK LQ 5XK© ª*HVWRUEHQLVWVLHLQGHU:HLVHGDQDFKDOOGLHVHQ(KUHQGHU +HQNHU 6DPSVRQ GLHVH KRKH 0DFKWKDEHULQ DXI GLH *XLOORWLQH VFKOHSSWH XQVFKXOGLJ ]XP (UJ|W]HQ GHU 3DULVHU )LVFKZHLEHU XQG VLH YRU $QJVW JDU QLFKW EHJULII ZDV PLW LKU YRUJLQJ 6LH VDK GD HU VLH DP +DOVH XQWHU GDV 0HVVHU ERJ XQG PLW )XWULWWHQKLQVFKREGLH:HLEHUODFKWHQGD]X XQGVLHVFKULH ¾(QFRUH XQ PRPHQW PRQVLHXU OH ERXUUHDX HQFRUH XQ PRPHQW½ 'DV EHGHXWHW ¾:DUWHQ 6LH QXU QRFK HLQ $XJHQEOLFNFKHQ +HUU ERXUUHDX QXU HLQ HLQ]LJHV $XJHQEOLFNFKHQ½ 8QG IU GLHVHV $XJHQEOLFNFKHQ ZLUG *RWW LKUYLHOOHLFKWYHU]HLKHQGHQQPDQNDQQVLFKQLFKWVYRUVWHOOHQ ZDVIUHLQH0HQVFKHQVHHOHVFKOLPPHUZlUHDOVGLHVHPLVHUH :HLWGXZDVGDV:RUWPLVHUHEHGHXWHW"1DVLHKVWGXZRKO GLHVFKUHFNOLFKH/DJHYRQGHULFKHU]lKOWKDEHGDVLVWHEHQVR HLQHPLVHUH$OVLFKYRQGLHVHP$XIVFKUHLGHU*UlILQXQGYRQ GLHVHPHLQHQ$XJHQEOLFNFKHQODVGDKDWWHLFK HLQ*HIKO DOV REPDQPLUGDV+HU] PLW HLQHU =DQJH ]ZLFNWH 8QG ZDV JHKW GLFK GDV DQ GX :XUP GD LFK YRU GHP =XEHWWJHKHQ LQ PHLQHP *HEHW LKUHU GLHVHU JURHQ 6QGHULQ JHGDFKW KDEH" 9LHOOHLFKW KDEH LFK HV JHUDGH GHVZHJHQ JHWDQ ZHLO VRODQJH GLH (UGH VWHKW IU VLH ZDKUVFKHLQOLFK QRFK QLH MHPDQG VHLQH 6WLUQ EHNUHX]LJW KDW RGHU HV VLFK EHUKDXSW KDW LQ GHQ 6LQQ NRPPHQ ODVVHQ 'HQQ HV ZLUG IU VLH LQ MHQHU :HOW HLQH
IU] =HUHPRQLHGHVPRUJHQGOLFKHQ$QNOHLGHQV
DQJHQHKPH (PSILQGXQJ VHLQ GD VLFK HLQ HEHQVR JURHU 6QGHU ZLH VLH JHIXQGHQ KDW GHU DXFK IU VLH ZHQLJVWHQV HLQ HLQ]LJHV 0DO DXI (UGHQ JHEHWHW KDW :DUXP ODFKVW GX" 'X JODXEVW QLFKW GX $WKHLVW $EHU ZRKHU KDVW GX GHLQ :LVVHQ" 8QGGXKDVWGDVZDVGX HUODXVFKW KDVW DXFK QRFK OJQHULVFK HQWVWHOOW GHQQ LFK KDEH QLFKW HLQIDFK QXU IU GLH *UlILQ 'XEDUU\ JHEHWHW LFK KDEH VR JHVDJW ¾2 *RWW JLE GLH HZLJH 5XKHGHU6HHOHGHUJURHQ6QGHULQ*UlILQ'XEDUU\XQGDOOHQ GLHLKUJOHLFKHQ½XQGGDVLVWGRFKHWZDVJDQ]DQGHUHVGHQQHV JLEWYLHOHVROFKH JURHQ 6QGHULQQHQ GLH ZDUQHQGH %HLVSLHOH IU GLH 9HUlQGHUOLFKNHLW GHV *OFNHV VLQG XQG YLHO JHOLWWHQ KDEHQ XQG VLFK MHW]W GRUW lQJVWLJHQ XQG VW|KQHQ XQG ZDUWHQ 8QG DXFK IU GLFK XQG DOOH GLH GLU JOHLFKHQ IU DOOH IUHFKHQ XQYHUVFKlPWHQ *HVHOOHQ GHLQHU $UW KDEH LFK GDPDOV JHEHWHW ZLH GX ZLVVHQ ZLUVW GD GX PLFK GDPDOV EHL PHLQHP *HEHW KDVWEHODXVFKHQP|JHQ©ª1DQXQK|UQXUDXIODHVJHQXJ VHLQ EHWH IU ZHQ GX ZLOOVW KRO GLFK GHU 7HXIHO ZDUXP ELVW GX VR LQV 6FKUHLHQ KLQHLQJHNRPPHQ"© XQWHUEUDFK LKQ GHU 1HIIH lUJHUOLFK ª(U LVW DXHURUGHQWOLFK EHOHVHQ )UVW KDEHQ 6LH GDV VFKRQ JHZXW"© IJWH HU PLW HLQHP XQJHVFKLFNWHQ /lFKHOQ KLQ]X ª(U OLHVW MHW]W LPPHU 0HPRLUHQ XQG DOOHUOHL DQGHUH%FKHU©ª,KU2QNHOLVWDEHUEHLDOOHGHPNHLQKHU]ORVHU 0HQVFK© EHPHUNWH GHU )UVW HWZDV XQZLOOLJ 'LHVHU MXQJH 0DQQZXUGHLKPVHKU]XZLGHUª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|JHQV KLQWHUODVVHQ© ª1LFKWV KLQWHUODVVH LFK GLU©
VFKULH/HEHGHZLQJULPPLJ ª+|UHQ6LHPDO /HEHGHZ©VDJWH GHU )UVW LQ EHVWLPPWHP 7RQ LQGHP HU VLFK YRQ GHP MXQJHQ 0DQQDEZDQGWHªLFKZHLMDDXV(UIDKUXQJGD6LHZHQQ6LH ZROOHQDXIJHVFKlIWOLFKHP*HELHW7FKWLJHVOHLVWHQN|QQHQ ,FKKDEHMHW]WVHKUZHQLJ=HLWXQGZHQQ6LH(QWVFKXOGLJHQ 6LH ZLH LVW GRFK ,KU 9RU XQG 9DWHUVQDPH" ,FK KDEH HV YHUJHVVHQ©ª7L7L7LPRIHM©ª8QG"©ª/XNMDQRZLWVFK© $OOH GLH LP =LPPHU DQZHVHQG ZDUHQ ODFKWHQ ZLHGHU ODXW DXIª(UOJW©ULHIGHU1HIIHª$XFKGDULQOJWHU(UKHLWJDU QLFKW 7LPRIHM /XNMDQRZLWVFK )UVW VRQGHUQ /XNMDQ 7LPRIHMHZLWVFK 1D QXQ VDJ VHOEVW ZDUXP KDVW GX GHQQ JHORJHQ" 'LU NDQQ HV GRFK JOHLFK VHLQ RE GX /XNMDQ RGHU 7LPRIHM KHLW XQG ZDV KDW GHU )UVW GDUDQ IU HLQ ,QWHUHVVH" (U VFKZLQGHOW QXU DXV UHLQHU $QJHZRKQKHLW YHUVLFKHUH LFK ,KQHQ© ª,VWGDV ZLUNOLFKZDKU"© IUDJWH GHU )UVW XQJHGXOGLJ ª,FK KHLH DOOHUGLQJV /XNMDQ 7LPRIHMHZLWVFK© JHVWDQG /HEHGHZ YHUOHJHQ LQGHP HU GHPWLJ GLH $XJHQ QLHGHUVFKOXJ XQG ZLHGHU GLH +DQG DXIV +HU] OHJWH ª$EHU ZDUXP WXQ 6LH GHQQ GDV" ,FK ELWWH 6LH© ª$XV 6HOEVWHUQLHGULJXQJ© IOVWHUWH /HEHGHZGHUVHLQHQ.RSILPPHUWLHIHUXQGLPPHUGHPWLJHU KHUDEVLQNHQ OLH ª$FK ZDV :DV OLHJW GHQQ GDULQ IU HLQH 6HOEVWHUQLHGULJXQJ :HQQ LFK QXU ZWH ZR .ROMD MHW]W ]X ILQGHQ LVW© VDJWH GHU )UVW XQG ZROOWH VLFK VFKRQ XPGUHKHQ XPZHJ]XJHKHQ ª,FK ZLOO ,KQHQ VDJHQ ZR .ROMD LVW© HUERW VLFK ZLHGHU GHU MXQJH 0DQQ ª1HLQ QHLQ QHLQ© ULHI /HEHGHZ DXIJHUHJW XQG KDVWLJ ª.ROMD KDW KLHU EHUQDFKWHW LVW DEHU DP 0RUJHQ ZHJJHJDQJHQ XP VHLQHQ *HQHUDO ]X VXFKHQ GHQ 6LH )UVW *RWWZHLZDUXPDXVGHP6FKXOGJHIlQJQLVORVJHNDXIWKDEHQ 'HU *HQHUDO KDWWH QRFK JHVWHUQ YHUVSURFKHQ HU ZUGH KLHUKHUNRPPHQ XP KLHU ]X EHUQDFKWHQ DEHU HU LVW QLFKW JHNRPPHQ $P ZDKUVFKHLQOLFKVWHQ LVW HU GLH 1DFKW LP *DVWKDXV¾=XU:DDJH½QLFKWZHLWYRQKLHUJHZHVHQ.ROMDLVW DOVRHQWZHGHUGRUWRGHULQ3DZORZVNEHL-HSDQWVFKLQV(UKDWWH
*HOG XQG ZROOWH QRFK JHVWHUQ KLQIDKUHQ $OVR LQ GHU ¾:DDJH½ RGHULQ3DZORZVN©ª,Q3DZORZVNLQ3DZORZVNZLUGHUVHLQ $EHU ZLU ZROOHQ LQ XQVHU *lUWFKHQ JHKHQ XQG HLQ 7lFKHQ.DIIHH© 8QG /HEHGHZ ]RJ GHQ )UVWHQ DQ GHU +DQG KLQDXV 6LH YHUOLHHQ GDV =LPPHU GXUFKVFKULWWHQ HLQHQ NOHLQHQ +RI XQG SDVVLHUWHQ HLQ 3I|UWFKHQ 'RUW EHIDQG VLFK ZLUNOLFK HLQ VHKU NOHLQHVVHKUKEVFKHV *lUWFKHQ LQ ZHOFKHP GDQN GHP JXWHQ :HWWHU VFKRQ DOOH %lXPH JUQ ZDUHQ /HEHGHZ OLH GHQ )UVWHQ DXI HLQHP JUQ DQJHVWULFKHQHQ +RO]ElQNFKHQ DQ HLQHP LQ GLH (UGH JHJUDEHQHQ 7LVFK 3ODW] QHKPHQ XQG VHW]WH VLFKLKPVHOEVWJHJHQEHU1DFKNXU]HU=HLWHUVFKLHQZLUNOLFK GHU.DIIHH'HU)UVWOHKQWHQLFKWDE /HEHGHZ IXKUIRUWLKP PLWNULHFKHULVFKHU0LHQHLQJURHU6SDQQXQJLQGLH$XJHQ]X VHKHQ ª,FK ZXWH JDU QLFKW GD 6LH HLQ VR KEVFKHV +DXVZHVHQKDEHQ© VDJWH GHU )UVW DEHU VHLQ *HVLFKW PDFKWH GHQ (LQGUXFN DOV RE HU DQ HWZDV DQGHUHV GDFKWH ª:LU VLQG DUPH XQJOFNOLFKH © EHJDQQ /HEHGHZ VLFK ]XVDPPHQ NUPPHQGDEHUHUKLHOWLQQH 'HU)UVWEOLFNWH]HUVWUHXWYRUVLFKKLQXQGKDWWHVHLQHOHW]WH %HPHUNXQJRIIHQEDUVFKRQZLHGHUYHUJHVVHQ(VYHUJLQJQRFK XQJHIlKU HLQH 0LQXWH /HEHGHZ EHREDFKWHWH GHQ )UVWHQ XQG ZDUWHWH ª1XQ DOVR ZLH VWHKW HV"© VDJWH GHU )UVW GHU DXV VHLQHQ *HGDQNHQ ]X VLFK ]X NRPPHQ VFKLHQ ª6LH ZLVVHQ MD VHOEVW /HEHGHZ ZDV ZLU EHLGH PLWHLQDQGHU ]X YHUKDQGHOQ KDEHQLFK ELQ LQIROJH ,KUHV %ULHIHV KHUJHNRPPHQ QXQ UHGHQ 6LH©/HEHGHZZXUGHYHUOHJHQHUZROOWHHWZDVVDJHQEUDFKWH DEHUQXUVWRWWHUQGH/DXWHKHUDXVXQGNRQQWHQLFKWV'HXWOLFKHV YRQ VLFK JHEHQ 'HU )UVW ZDUWHWH HLQ :HLOFKHQ XQG OlFKHOWH WUDXULJ ª,FK JODXEH 6LH VHKU JXW ]X YHUVWHKHQ /XNMDQ 7LPRIHMHZLWVFK6LHKDEHQPLFKZDKUVFKHLQOLFKQLFKWHUZDUWHW 6LH GDFKWHQ LFK ZUGH PLFK DXV PHLQHU =XUFNJH]RJHQKHLW QLFKW JOHLFK DXI ,KUH HUVWH %HQDFKULFKWLJXQJ KLQ DXIPDFKHQ XQG VFKULHEHQ PLU XP ,KU *HZLVVHQ ]X EHUXKLJHQ $EHU 6LH
VHKHQ LFK ELQ KHUJHNRPPHQ 1XQ ODVVHQ 6LH HV JHQXJ VHLQ XQG WlXVFKHQ 6LH PLFK QLFKW ZHLWHU +|UHQ 6LH DXI ]ZHL +HUUHQ ]X GLHQHQ 5RJRVKLQ LVW VFKRQ GUHL :RFKHQ KLHU LFK ZHLDOOHV+DEHQ6LHHVVFKRQZLHGHUIHUWLJJHEUDFKWVLHLKP ]X YHUUDWHQ XQG ]X YHUNDXIHQ ZLH GDPDOV" 6DJHQ 6LH GLH :DKUKHLW© ª'HU 8QPHQVFK KDW HV VHOEVW HUIDKUHQ JDQ] DOOHLQ© ª6FKLPSIHQ 6LH QLFKW DXI LKQ HU KDW 6LH MD IUHLOLFK VFKOHFKWEHKDQGHOW©ª*HSUJHOWKDWHUPLFKJHSUJHOW©ILHO /HEHGHZLQJURHU(UUHJXQJHLQª0LWHLQHP+XQGKDWHUPLFK LQ 0RVNDX JHKHW]W GLH JDQ]H 6WUDH HQWODQJ PLW HLQHP -DJGKXQG(VZDUHLQVFKUHFNOLFKHV7LHU©ª6LHKDOWHQPLFKIU HLQNOHLQHV.LQG/HEHGHZ6DJHQ6LHPLULP(UQVWKDWVLHLKQ MHW]W LQ 0RVNDX YHUODVVHQ"© ª,P (UQVW LP (UQVW XQG ZLHGHU XQPLWWHOEDU YRU GHU 7UDXXQJ 'HU ]lKOWH VFKRQ GLH 0LQXWHQ DEHUVLHUHLVWHKLHUKHUQDFK3HWHUVEXUJXQGNDPJHUDGHZHJV]X PLU¾5HWWHPLFKEHVFKW]HPLFK/XNMDQ½VDJWHVLH¾XQGVDJH GHP)UVWHQQLFKWV½6LHIUFKWHWVLFKYRU,KQHQ)UVWQRFK PHKUDOVYRULKPXQGGDVLVWGDV5lWVHOKDIWH© /HEHGHZ KLHOW PLW VFKODXHU 0LHQH GHQ )LQJHU DQ GLH 6WLUQ ª8QG MHW]W KDEHQ 6LH GLH EHLGHQ ZLHGHU ]XVDPPHQJHIKUW"© ª'XUFKODXFKWLJVWHU )UVW ZDV NRQQWH ZDV NRQQWH LFK GDJHJHQ WXQ"© ª1XQ JHQXJ ,FK ZHUGH VHOEVW DOOHV LQ (UIDKUXQJ EULQJHQ 6DJHQ 6LH PLU QXU ZR LVW VLH MHW]W" %HL LKP"©ª2QHLQJDQ]XQGJDUQLFKW6LHOHEWLPPHUQRFKJDQ] IUVLFK6LHVDJW¾,FKELQIUHL½XQGZLVVHQ6LH)UVWGDVLVW EHL LKU LPPHU GHU 5HIUDLQ ¾,FK ELQ QRFK YROONRPPHQ IUHL½ VDJWVLH6LHZRKQWLPPHUQRFKDXIGHU3HWHUVEXUJHU6HLWHLP +DXVH PHLQHU 6FKZlJHULQ ZLH LFK ,KQHQ MD DXFK JHVFKULHEHQ KDEH© ª,VW VLH DXFK MHW]W GRUW"© ª-D ZHQQ VLH QLFKW EHL GHP VFK|QHQ :HWWHU LQ 3DZORZVN LVW EHL 'DUMD $OH[HMHZQD LQ GHUHQ /DQGKDXV 6LH VDJW ¾,FK ELQ YROONRPPHQ IUHL½ 1RFK JHVWHUQ KDW VLH VLFK 1LNRODL $UGDOLRQRZLWVFK JHJHQEHU VHKU LKUHU)UHLKHLWJHUKPW(LQEOHV=HLFKHQ© /HEHGHZIOHWVFKWHGLH=lKQHª,VW.ROMDRIWEHLLKU"©ª(ULVW
OHLFKWVLQQLJ XQG XQEHUHFKHQEDU XQG QLFKW GLVNUHW© ª6LQG 6LH LQ OHW]WHU =HLW GD JHZHVHQ"© ª,FK JHKH DOOH 7DJH KLQ DOOH 7DJH© ª$OVR ZDUHQ 6LH DXFK JHVWHUQ GD"© ª1QHLQ YRUYRUJHVWHUQ© ª:LH VFKDGH GD 6LH DQJHWUXQNHQ VLQG /HEHGHZ 6RQVW KlWWH LFK 6LH HWZDV JHIUDJW© ª2K QLFKW GLH 6SXUEHWUXQNHQELQLFK© /HEHGHZPDFKWHJHUDGH]XHLQILQVWHUHV*HVLFKW ª6DJHQ6LH PLU LQ ZHOFKHP =XVWDQG EHIDQG VLH VLFK DOV 6LH VLH YHUOLHHQ"© ª6LHVXFKWH© ª6LHVXFKWH"© ª(V ZDU DOVREVLH LPPHU HWZDV VXFKWH DOV RE VLH HWZDV YHUORUHQ KlWWH :DV GLH EHYRUVWHKHQGH(KHEHWULIIWVRZDULKUVRJDUGHU*HGDQNHGDUDQ ]XZLGHU XQG VLH IDWH GLH EORH (UZlJXQJ GHUVHOEHQ DOV %HOHLGLJXQJDXI$QLKQVHOEVWGHQNWVLHQLFKWPHKUDOVDQHLQ 6WFNFKHQ $SIHOVLQHQVFKDOH GDV KHLW GRFK PHKU VLH GHQNW DQ LKQ PLW )XUFKW XQG 6FKUHFNHQ XQG YHUELHWHW HLQHP VRJDU YRQLKP]X UHGHQ VLH VHKHQ HLQDQGHU QXU ZHQQ HV XQEHGLQJW Q|WLJLVWXQGHUHPSILQGHWGDVDXHURUGHQWOLFKVFKPHU]OLFK $EHUVLHZLUGLKUHP6FKLFNVDOGRFKQLFKW HQWJHKHQ6LH LVW XQUXKLJ VSRWWOXVWLJ ODXQLVFK ]lQNLVFK © ª/DXQLVFK XQG ]lQNLVFK"©ª-D]lQNLVFKGHQQHVIHKOWHGDVYRULJH0DOZHQLJ GDUDQGDVLHPLFKZHJHQHWZDVZDVLFKJHVDJWKDWWHDQGHQ +DDUHQJHULVVHQKlWWH,FKZROOWHVLHGXUFKGLH$SRNDO\SVH]XU %HVLQQXQJ EULQJHQ© ª:LH" :DV"© IUDJWH GHU )UVW GHU VLFK YHUK|UW ]X KDEHQ JODXEWH ª'XUFK 9RUOHVHQ GHU $SRNDO\SVH 6LH LVW HLQH 'DPH PLW XQUXKLJHP *HLVW KHKH hEHUGLHV KDEH LFKGLH %HREDFKWXQJ JHPDFKW GD VLH HLQH JURH 1HLJXQJ ]X HUQVWHQ ZHQQ DXFK DEVHLWV JHOHJHQHQ *HVSUlFKVJHJHQVWlQGHQ KDW 6LH OLHEW GHUJOHLFKHQ XQG IDW HV VRJDU DOV HLQ =HLFKHQ EHVRQGHUHU +RFKDFKWXQJ DXI ZHQQ PDQ YRQ VROFKHQ 'LQJHQ DQIlQJW-D,FKELQLQGHU$XVOHJXQJGHU$SRNDO\SVHVWDUNXQG EHVFKlIWLJH PLFK GDPLW VFKRQ VHLW IQI]HKQ -DKUHQ 6LH VWLPPWHPLUGDULQEHLGDZLUMHW]WEHLGHPGULWWHQ3IHUGGHP 5DSSHQ DQJHODQJW VLQG XQG EHL GHP 5HLWHU GHU HLQ 0D LQ VHLQHU+DQGKDWGDMDLQMHW]LJHU=HLWDOOHVQDFKGHP0DXQG
GHP 9HUWUDJ JHKW XQG DOOH 0HQVFKHQ QXU LKU 5HFKW VXFKHQ ¾(LQ 0D :HL]HQ XP HLQHQ 'LQDU XQG GUHL 0D *HUVWH XP HLQHQ 'LQDU½ XQG GDQQ P|FKWHQ VLH VLFK QRFK HLQHQ IUHLHQ *HLVW XQG HLQ QHXHV +HU] XQG HLQHQ JHVXQGHQ /HLE XQG DOOH DQGHUQ*DEHQREHQGUHLQEHZDKUHQ$EHUDXI*UXQGGHVEORHQ 5HFKWHVN|QQHQVLHVLFKGDVQLFKWEHZDKUHQXQGGDQDFKIROJW GDV IDKOH 3IHUG XQG GHU GHV 1DPH 7RG KHLW XQG QDFK LKP NRPPW GDQQ GLH +|OOH 'DUEHU UHGHQ ZLU ZHQQ ZLU ]XVDPPHQNRPPHQXQGHVKDWEHLLKUVWDUNH:LUNXQJJHWDQ© ª6LH VHOEVW JODXEHQ GDUDQ"© IUDJWH GHU )UVW LQGHP HU /HEHGHZ PLW HLQHP HLJHQWPOLFKHQ %OLFN DQVDK ª,FK JODXEH GDUDQ XQG OHJH HV DXV 'HQQ LFK ELQ DUP XQG QDFNW XQG HLQ $WRP LP 6WUXGHO GHU 0HQVFKKHLW 8QG ZHU DFKWHW /HEHGHZ" -HGHU VSRWWHW EHU LKQ XQG MHGHU YHUVHW]W LKP HLQHQ )XWULWW $EHU GRUW EHL GLHVHU $XVOHJXQJ VWHKH LFK GHQ *URHQ GLHVHU :HOWJOHLFK'HQQGDEHLNRPPWHVDXIGHQ9HUVWDQG DQ 8QG HVKDWDXFKVFKRQHLQKRKHU:UGHQWUlJHUYRUPLUJH]LWWHUW DXI VHLQHP /HKQVWXKO DOV LKP HLQ /LFKW DXIJLQJ 6HLQH ([]HOOHQ]1LO$OH[HMHZLWVFKKDWWHYRU]ZHL-DKUHQYRU2VWHUQ YRQ PLU JHK|UW LFK ZDU GDPDOV QRFK LQ VHLQHP 'HSDUWHPHQW DQJHVWHOOW OLH PLFK GXUFK 3MRWU 6DFKDU\WVFK HLJHQV DXV GHP %UR ]X VLFK LQ VHLQ $UEHLWV]LPPHU UXIHQ XQG IUDJWH PLFK XQWHU YLHU $XJHQ ¾,VW GDV ZDKU GD GX HLQ 9HUNQGHU GHV $QWLFKULVW ELVW"½ 8QG LFK OHXJQHWH QLFKW XQG VSUDFK ¾,FK ELQ HV½8QGLFKOHJWHLKPDOOHVDXVXQGVWHOOWHHVLKPGDUXQGLFK PLOGHUWH GDV 6FKUHFNOLFKH QLFKW VRQGHUQ VWHLJHUWH HV QRFK XQYHUPHUNW LQGHP LFK GLH DOOHJRULVFKH %FKHUUROOH |IIQHWH XQG]RJ6FKOVVHDXVGHQ=DKOHQ8QGHUODFKWHDEHUEHLGHQ =DKOHQ XQG GHQ bKQOLFKNHLWHQ ILQJ HU DQ ]X ]LWWHUQ XQG EDW PLFKGDV%XFK]X VFKOLHHQ XQG ZHJ]XJHKHQ XQG ]X 2VWHUQ ZLHV HU PLU HLQH *UDWLILNDWLRQ DQ XQG LQ GHU :RFKH QDFK 2VWHUQ KDXFKWH HU VHLQH 6HHOH DXV© ª:DV UHGHQ 6LH GD /HEHGHZ"©ª,FKVDJHHVZLHHVJHZHVHQLVW(UILHOQDFKGHP 0LWWDJHVVHQ DXV VHLQHU (TXLSDJH PLW GHU 6FKOlIH VFKOXJ HU
JHJHQHLQHQ3UHOOVWHLQXQGZLHHLQNOHLQHV.LQGJDQ]ZLHHLQ NOHLQHV .LQG ZDU HU DXI GHU 6WHOOH WRW 'UHLXQGVLHE]LJ -DKUH ZDU HU QDFK GHU 5DQJOLVWH DOW JHZRUGHQ HU KDWWH HLQH U|WOLFKH *HVLFKWVIDUEH JUDXHV +DDU XQG EHVSUHQJWH VLFK JDQ] PLW 3DUIP XQG LPPHU OlFKHOWH HU LPPHU OlFKHOWH HU ZLH HLQ NOHLQHV .LQG 3MRWU 6DGLDU\WVFK HULQQHUWH VLFK GDPDOV QRFK DQ GDVZDVYRUKHUJHJDQJHQZDU¾'XKDVWHVYRUKHUJHVDJW½VDJWH HU]XPLU© 'HU)UVWHUKREVLFK/HEHGHZZXQGHUWHVLFKXQGZDUVRJDU JDQ]EHIUHPGHWGDGHU)UVWVFKRQIRUWZROOWHª6LHVLQGMHW]W VR JOHLFKJOWLJ JHZRUGHQ KHEH© HUODXEWH HU VLFK XQWHUZUILJ ]XEHPHUNHQª,FKIKOHPLFKLQGHU7DWQLFKWJDQ]ZRKOGHU .RSI WXW PLU ZHK ZRKO YRQ GHU 5HLVH© DQWZRUWHWH GHU )UVW PLW ILQVWHUHP *HVLFKW ª6LH VROOWHQ DXIV /DQG JHKHQ© ULHW /HEHGHZVFKFKWHUQ 'HU )UVW EHUOHJWH ª,FK ZLOO VHOEVW LQ GUHL 7DJHQ PLW PHLQHU JDQ]HQ )DPLOLH LQ PHLQ /DQGKDXV ]LHKHQ GDPLW VLFK DXFK GHU 6lXJOLQJ GD NUlIWLJW XQG GDPLW KLHU LP +DXVH XQWHUGHVVHQ DOOHV ]XUHFKWJHPDFKW ZLUG ,FK ]LHKH HEHQIDOOV QDFK 3DZORZVN© ª6LH ]LHKHQ DXFK QDFK 3DZORZVN"© IUDJWH GHU)UVWUDVFKª:LHJHKWGHQQGDV]X"=LHKHQKLHUDOOH/HXWH QDFK 3DZORZVN" 8QG 6LH KDEHQ ZLH 6LH VDJHQ GRUW HLQ HLJHQHV/DQGKDXV"©ª$OOH/HXWH]LHKHQQLFKWQDFK3DZORZVN 0LU KDW ,ZDQ 3HWURZLWVFK 3WL]\Q HLQHV YRQ GHQ /DQGKlXVHUQ EHUODVVHQ GLH LKP GD ELOOLJ ]XJHIDOOHQ VLQG (V LVW HLQ KEVFKHU 2UW XQG KRFKJHOHJHQ XQG JUQ XQG ELOOLJ XQG HV KHUUVFKW GD ERQ WRQ XQG DXFK 0XVLN LVW GD GDUXP ]LHKHQ VR YLHOH QDFK 3DZORZVN ,FK ZRKQH EULJHQV QXU LQ HLQHP 1HEHQJHElXGHGDV /DQGKDXVVHOEVW© ª'DVKDEHQ6LH ZRKO YHUPLHWHW"© ª1QQHLQ 1RFK QLFKW QRFK QLFKW GHILQLWLY© ª9HUPLHWHQ6LHHVPLU©VFKOXJGHU)UVWVFKQHOOYRU *HUDGH GDUDXI VFKLHQ HV /HEHGHZ DEJHVHKHQ ]X KDEHQ 'LHVHU *HGDQNH ZDU LKP ZHQLJH $XJHQEOLFNH YRUKHU GXUFK GHQ.RSIJHJDQJHQ(LQ%HGUIQLVQDFKHLQHP0LHWHUKDWWHHU
EULJHQVJDUQLFKWPHKUHLQVROFKHUKDWWHVLFKEHUHLWVJHIXQGHQ XQG LKQ EHQDFKULFKWLJW HU ZHUGH GDV /DQGKDXV YLHOOHLFKW PLHWHQ/HEHGHZZXWHEHVWLPPWGDHUHVQLFKWªYLHOOHLFKW© VRQGHUQVLFKHUPLHWHQZHUGHDEHUMHW]WZDULKPDXIHLQPDOHLQ VHLQHU0HLQXQJQDFKYLHOYHUVSUHFKHQGHU*HGDQNHJHNRPPHQ GDV/DQGKDXVGHP)UVWHQ]XEHUODVVHQXQWHU%HQXW]XQJGHV 8PVWDQGHV GD GHU ELVKHULJH 5HIOHNWDQW VLFK QXU XQEHVWLPPW DXVJHGUFNW KDWWH ¾'DV LVW MD HLQ HLJHQWPOLFKHV =XVDPPHQ WUHIIHQXQGHLQHJDQ]QHXH:HQGXQJGHU'LQJH½GDVZDUVHLQH (PSILQGXQJ (U QDKP GHQ 9RUVFKODJ GHV )UVWHQ IDVW PLW (QW]FNHQ DQ XQG PDFKWH DXI GHVVHQ GLUHNWH )UDJH QDFK GHP 3UHLV QXU HLQH DEZHKUHQGH +DQGEHZHJXQJ ª1XQ ZLH 6LH ZROOHQ© VDJWH GHU )UVW ª,FK ZHUGH PLFK HUNXQGLJHQ ZDV EOLFKLVWXQG6LHVROOHQQLFKW]X6FKDGHQNRPPHQ© 6LHYHUOLHHQQXQPHKUEHLGHGHQ *DUWHQ ª,FKN|QQWH ,KQHQ LFKN|QQWH,KQHQZHQQHV ,KQHQHUZQVFKWZlUHN|QQWH LFK ,KQHQ HLQH VHKU LQWHUHVVDQWH 0LWWHLOXQJ PDFKHQ KRFKYHUHKUWHU)UVWLFKN|QQWH,KQHQHWZDVPLWWHLOHQZDVVLFK DXI GHQVHOEHQ *HJHQVWDQG EH]LHKW© PXUPHOWH /HEHGHZ GHU JOFNVHOLJQHEHQGHP)UVWHQHLQKHUVFKDUZHQ]HOWH 'HU)UVWEOLHEVWHKHQ ª'DUMD$OH[HMHZQDKDWHEHQIDOOVHLQ /DQGKDXVLQ3DZORZVN©ª1XQXQG"©ª(LQHJHZLVVH'DPHLVW PLWLKUEHIUHXQGHWXQGEHDEVLFKWLJWDQVFKHLQHQGVLHKlXILJLQ 3DZORZVN ]X EHVXFKHQ 6LH KDW GDEHL HLQH EHVWLPPWH $EVLFKW©ª1XQ"©ª$JODMD,ZDQRZQD©ª$FKK|UHQ6LHDXI /FEFGHZ©XQWHUEUDFKLKQGHU)UVWDOVVHLEHLLKPHLQZXQGHU 3XQNW EHUKUW ª'DV YHUKlOW VLFK DOOHV DQGHUV 6DJHQ 6LH PLU OLHEHUZDQQ6LHXP]LHKHQ0LULVWHVMHHKHUXPVROLHEHUGD LFKLP*DVWKDXV© :lKUHQGGLHVHV*HVSUlFKHVKDWWHQVLHGHQ*DUWHQYHUODVVHQ ZDUHQRKQHQRFKPDOVLQGDV+DXV]XNRPPHQEHUGHQ+RI JHJDQJHQXQGQlKHUWHQVLFKQXQGHP7RUSI|UWFKHQª'DVEHVWH ZlUH© PHLQWH /HEHGHZ VFKOLHOLFK ªZHQQ 6LH JOHLFK KHXWH DXVGHP*DVWKDXV]XPLU]|JHQEHUPRUJHQ]LHKHQZLUGDQQ
DOOH ]XVDPPHQ QDFK 3DZORZVN© ª,FK ZHUGH HV PLU EHUOHJHQ© HUZLGHUWH GHU )UVW QDFKGHQNOLFK XQG JLQJ DXV GHP7RU /HEHGHZ VDK LKP QDFK 'LH SO|W]OLFKH =HUVWUHXWKHLW GHV )UVWHQ EHUUDVFKWH LKQ 'LHVHU KDWWH VRJDU YHUJHVVHQ EHLP :HJJHKHQ/HEHZRKO]XVDJHQXQGQLFKWHLQPDOPLWGHP.RSI JHQLFNW ZDV ]X GHU +|IOLFKNHLW XQG $XIPHUNVDPNHLW GHV )UVWHQGLH/HEHGHZJXWNDQQWHZHQLJVWLPPWH
,,, (V JLQJ VFKRQ DXI ]Z|OI 'HU )UVW ZXWH GD HU EHL -HSDQWVFKLQV LQ LKUHU 6WDGWZRKQXQJ MHW]W QXU GHQ GLHQVWOLFK EHVFKlIWLJWHQ *HQHUDO WUHIIHQ NRQQWH XQG DXFK GHQ NDXP (U VDJWH VLFK GD GHU *HQHUDO LKQ ZRP|JOLFK VRJOHLFK PLW %HVFKODJEHOHJHQXQGQDFK3DZORZVNPLWQHKPHQZUGHXQG LKPODJGRFKVHKUGDUDQYRUKHUQRFKHLQHQ%HVXFK]XPDFKHQ $XI GLH *HIDKU KLQ GD HV LKP IU -HSDQWVFKLQV ]X VSlW ZHUGHQXQGHUJHQ|WLJWVHLQZUGHVHLQH)DKUWQDFK3DZORZVN ELV ]XP QlFKVWHQ 7DJH DXI]XVFKLHEHQ HQWVFKOR VLFK GHU )UVW ]XQlFKVW MHQHV +DXV DXI]XVXFKHQ ZRKLQ HV LKQ VRVHKU YHUODQJWH 'LHVHU %HVXFK ZDU IU LKQ EULJHQV LQ JHZLVVHU +LQVLFKW JHZDJW(U]DXGHUWHXQGVFKZDQNWH(U ZXWHYRQGHP+DXV GD HV LQ GHU *RURFKRZDMD6WUDH ODJ QLFKW ZHLW YRQ GHU 6DGRZDMD6WUDHXQGHQWVFKLHGVLFKGDIUKLQ]XJHKHQLQGHU +RIIQXQJ HV ZHUGH LKP QRFK JHOLQJHQ HKH HU KLQNDP HLQHQ HQGJOWLJHQ %HVFKOX ]X IDVVHQ $OV HU DQ GLH .UHX]XQJ GHU *RURFKRZDMD XQG 6DGRZDMD6WUDH NDP ZXQGHUWH HU VLFK VHOEVW EHU VHLQH XQJHZ|KQOLFKH $XIUHJXQJ HU KDWWH QLFKW
HUZDUWHW GD LKP GDV +HU] VR VFKPHU]KDIW VFKODJHQ ZUGH (LQHV GHU +lXVHU ]RJ ZDKUVFKHLQOLFK GXUFK VHLQH EHVRQGHUH 3K\VLRJQRPLH VFKRQ YRQ ZHLWHP VHLQH $XIPHUNVDPNHLW DXI VLFKXQGGHU)UVWHULQQHUWHVLFKVSlWHUGDHU]XVLFKJHVDJW KDWWH¾(VZLUGJHZLGLHVHV+DXVVHLQ½0LWDXHURUGHQWOLFKHU 1HXJLHU JLQJ HU QlKHU KHUDQ XP VHLQH 0XWPDXQJ DXI LKUH 5LFKWLJNHLW ]X SUIHQ HU IKOWH GD HV LKP DXV LUJHQGHLQHP *UXQG EHVRQGHUV XQDQJHQHKP VHLQ ZUGH ZHQQ HU HV VROOWH HUUDWHQ KDEHQ (V ZDU GLHV HLQ JURHV ILQVWHUHV GUHLVW|FNLJHV +DXV RKQH DOOHQ DUFKLWHNWRQLVFKHQ 6FKPXFN YRQ VFKPXW]LJJUQHU )DUEH (LQH DOOHUGLQJV QXU VHKU JHULQJH $Q]DKO GHUDUWLJHU +lXVHU GLH JHJHQ (QGH GHV YRULJHQ -DKUKXQGHUWVJHEDXWVLQGKDWVLFKQDPHQWOLFKLQGLHVHQ6WUDHQ 3HWHUVEXUJVREZRKOVLFKGRFKLQGLHVHU6WDGWVRYLHOHVlQGHUW IDVW XQYHUVHKUW HUKDOWHQ 6LH VLQG VROLGH JHEDXW PLW GLFNHQ 0DXHUQ XQG VHKU ZHQLJHQ )HQVWHUQ LP (UGJHVFKR VLQG GLH )HQVWHU PDQFKPDO YHUJLWWHUW 0HLVW EHILQGHW VLFK XQWHQ HLQ :HFKVHOJHVFKlIW 'HU 6NRS]H GHU LQ GHP :HFKVHOJHVFKlIW VLW]W ZRKQW REHQ (LQ VROFKHV +DXV PDFKW YRQ DXHQ XQG LQQHQ HLQHQ XQJDVWOLFKHQ XQIUHXQGOLFKHQ (LQGUXFN HV VXFKW VLFK JOHLFKVDP ]X YHUVWHFNHQ XQG ]X YHUEHUJHQ DEHU ZDUXP HLJHQWOLFK VFKRQ GLH EORH 3K\VLRJQRPLH GHV +DXVHV HLQHQ VROFKHQ (LQGUXFN PDFKW GDV LVW VFKZHU ]X VDJHQ 'LH DUFKLWHNWRQLVFKHQ /LQLHQ PVVHQ ZRKO DXI JHKHLPQLVYROOH :HLVHGLHVH:LUNXQJDXVEHQ,QGLHVHQ+lXVHUQZRKQHQIDVW DXVVFKOLHOLFK.DXIOHXWH'HU)UVWQlKHUWHVLFKGHP7RUVDK QDFKGHP7UVFKLOGXQGODVª+DXVGHVHUEOLFKHQ(KUHQEUJHUV 5RJRVKLQ©6HLQHP=DXGHUQHLQ(QGHPDFKHQG|IIQHWHHUGLH *ODVWU GLH KLQWHU LKP JHUlXVFKYROO ZLHGHU ]XVFKOXJ XQG EHJDQQ GLH +DXSWWUHSSH ]XP ]ZHLWHQ 6WRFN KLQDXI]XVWHLJHQ 'LH 7UHSSH ZDU GXQNHO NXQVWORV DXV 6WHLQVWXIHQ JHEDXW GLH :lQGH PLW URWHU )DUEH DQJHVWULFKHQ (U ZXWH GD 5RJRVKLQ 'LH 6NRS]HQ ZDUHQ HLQH DP (QGH GHV -DKUKXQGHUWV HQWVWDQGHQH UHOLJL|VH6HNWHGHUHQ0LWJOLHGHUVLFKGHU.DVWUDWLRQXQWHUZDUIHQ
PLW VHLQHU 0XWWHU XQG VHLQHP %UXGHU GDV JDQ]H ]ZHLWH 6WRFNZHUN GLHVHV GVWHUHQ +DXVHV EHZRKQWH 'HU 'LHQHU GHU GHP )UVWHQ |IIQHWH OLH LKQ RKQH $QPHOGXQJ KLQHLQ XQG IKUWH LKQ ODQJH VLH SDVVLHUWHQ HLQHQ IU )HVWOLFKNHLWHQ EHVWLPPWHQ6DDOPLWPDUPRUDUWLJEHPDOWHQ:lQGHQHLFKHQHP 3DUNHWWIXERGHQ XQG VFKZHUHQ SOXPSHQ 0|EHOQ DXV GHQ ]ZDQ]LJHU -DKUHQ VLH JLQJHQ DXFK GXUFK HLQLJH NOHLQH =LPPHUFKHQ ZREHL VLH %RJHQ XQG =LFN]DFNH PDFKWHQ HLQ SDDU 6WXIHQ KLQDXI XQG GDQQ ZLHGHU HEHQVR YLHOH KLQXQWHUVWLHJHQ XQG NORSIWHQ HQGOLFK DQ HLQHU 7U DQ 3DUIHQ 6HPMRQRZLWVFK |IIQHWH VHOEVW DOV HU GHQ )UVWHQ HUEOLFNWH ZXUGHHUVREODXQGEOLHEVRVWDUUDXIGHP)OHFNHVWHKHQGD HUPLWVHLQHPXQEHZHJOLFKHQHUVFKURFNHQHQ%OLFNXQGGHP]X HLQHP YHUVWlQGQLVORVHQ /lFKHOQ VFKLHIJH]RJHQHQ 0XQG HLQH =HLWODQJ HLQHP VWHLQHUQHQ *|W]HQELOG JOLFK HU VFKLHQ LQ GHP %HVXFK GHV )UVWHQ HWZDV 8QJODXEOLFKHV MD EHLQDK :XQGHUEDUHV]XVHKHQ'HU )UVWKDWWH]ZDU HWZDV'HUDUWLJHV HUZDUWHWZDUDEHUGRFKHUVWDXQW ª9LHOOHLFKWNRPPHLFKQLFKW JHOHJHQ 3DUIHQ LFK NDQQ MD ZLHGHU JHKHQ© VDJWH HU VFKOLHOLFK YHUOHJHQ ª1LFKW GRFK GX NRPPVW GXUFKDXV JHOHJHQ© HUZLGHUWH 3DUIHQ GHU HQGOLFK VHLQH )DVVXQJ ZLHGHUJHZDQQª%LWWHWULWWQlKHU© 6LH GX]WHQ VLFK ,Q 0RVNDX ZDUHQ VLH KlXILJ XQG ODQJH ]XVDPPHQ JHZHVHQ XQG HV KDWWH EHL GLHVHP =XVDPPHQVHLQ DXFK$XJHQEOLFNHJHJHEHQGLHDXIGDV+HU]GHVHLQHQZLHGHV DQGHUQ WLHIHQ (LQGUXFN JHPDFKW KDWWHQ -HW]W KDWWHQ VLH HLQDQGHUPHKUDOVGUHL0RQDWHQLFKWJHVHKHQ 'LH %OlVVH XQG HLQ OHLVHV KXVFKHQGHV =XFNHQ ZDUHQ QRFK LPPHU QLFKW YRQ 5RJRVKLQV *HVLFKW JHZLFKHQ (U KDWWH ]ZDU VHLQHQ *DVW HLQJHODGHQ QlKHU ]X WUHWHQ DEHU VHLQH DXHURUGHQWOLFKH %HIDQJHQKHLW GDXHUWH DQ :lKUHQG HU GHQ )UVWHQ ]X HLQHP /HKQVHVVHO IKUWH XQG DP 7LVFK 3ODW] QHKPHQOLHZDQGWHVLFKGLHVHU]XIlOOLJ]XLKPKLQXQGEOLHE EHUUDVFKW YRQ VHLQHP VHOWVDP VWDUUHQ %OLFN VWHKHQ 'LHVHU
%OLFN VFKLHQ GHQ )UVWHQ ]X GXUFKERKUHQ XQG HULQQHUWH LKQ ]XJOHLFK DQ HWZDV 3HLQOLFKHV 'VWHUHV GDV HU YRU ZHQLJHQ 6WXQGHQJHVHKHQKDWWH(UVHW]WHVLFKQLFKWKLQVRQGHUQEOLHE RKQH VLFK ]X UKUHQ VWHKHQ XQG EOLFNWH 5RJRVKLQ HLQH :HLOH JHUDGHLQGLH$XJHQGLHVH$XJHQVFKLHQHQLPHUVWHQ0RPHQW QRFK VWlUNHU DXI]XIODPPHQ (QGOLFK OlFKHOWH 5RJRVKLQ DEHU HWZDVYHUOHJHQXQGYHUZLUUW ª:DUXPVLHKVWGX PLFK GHQQ VR XQYHUZDQGWDQ"©PXUPHOWHHUª6HW]GLFKGRFK© 'HU)UVWVHW]WHVLFKª3DUIHQ©VDJWHHUªVDJPLUDXIULFKWLJ ZXWHVW GX GD LFK KHXWH QDFK 3HWHUVEXUJ NRPPHQ ZUGH"© ª'DGXKHUNRPPHQZUGHVWKDEHLFKPLUJHGDFKW©YHUVHW]WH 5RJRVKLQ ª8QG ZLH GX VLHKVW KDEH LFK PLFK QLFKW JHLUUW© IJWHHUERVKDIWOlFKHOQGKLQ]Xª$EHUZRKHUKlWWHLFKZLVVHQ VROOHQGDGXJHUDGHKHXWHNRPPHQZUGHVW"© 'LHVFKURIIH+HIWLJNHLWXQGGHUVHOWVDP JHUHL]WH7RQGHU DQ GLH $QWZRUW DQJHVFKORVVHQHQ )UDJH EHIUHPGHWHQ GHQ )UVWHQ QRFK PHKU ª$EHU VHOEVW ZHQQ GX ZXWHVW GD LFK KHXWH NRPPHQZUGHVREUDXFKVWGXGRFKQLFKWVRJHUHL]W]XVHLQ© VDJWHGHU)UVWOHLVHQLFKWRKQH9HUOHJHQKHLWª:DUXPIUDJWHVW GX GHQQ RE LFK HV JHZXW KDEH"© ª$OV LFK YRUKLQ DXV GHP %DKQZDJHQ VWLHJ VDK LFK ]ZHL JDQ] HEHQVROFKH $XJHQ DXI PLFKJHULFKWHWZLH GLH PLW GHQHQ GX PLFK VRHEHQ YRQ KLQWHQ DQVDKVW© ª1D VR ZDV :HVVHQ $XJHQ ZDUHQ GHQQ GDV"© PXUPHOWH 5RJRVKLQ DUJZ|KQLVFK (V VFKLHQ GHP )UVWHQ DOV VHLHU]XVDPPHQJH]XFNW ª,FKZHLHVQLFKWHVZDUHLQHUDXV GHU 0HQJH LFK KDOWH VRJDU IU P|JOLFK GD HV PLU QXU VR YRUJHNRPPHQ LVW GHUJOHLFKHQ 7lXVFKXQJHQ EHJHJQHQ PLU LQ OHW]WHU =HLW KlXILJHU ,FK KDEH EHLQDK GLHVHOEH (PSILQGXQJ %UXGHU 3DUIHQ ZLH LFK VLH YRU IQI -DKUHQ KDWWH DOV LFK QRFK PHLQH $QIlOOH EHNDP© ª1D DOVR YLHOOHLFKW LVW HV GLU QXU VR YRUJHNRPPHQLFKZHLHVQLFKW©PXUPHOWH3DUIHQ 'DV IUHXQGOLFKH /lFKHOQ DXI VHLQHP *HVLFKW VWDQG LKP LQ GLHVHP $XJHQEOLFN VHKU VFKOHFKW GLHVHV /lFKHOQ KDWWH VR]XVDJHQHLQHQ6SUXQJEHNRPPHQXQG3DUIHQZDUWURW]DOOHU
%HPKXQJ QLFKW LPVWDQGH HV ZLHGHU ]XVDPPHQ]XNOHEHQ ª1XQ ZLOOVW GX ZLHGHU LQV $XVODQG JHKHQ MD"© IUDJWH HU XQG IJWH SO|W]OLFK KLQ]X ª(ULQQHUVW GX GLFK QRFK ZLH ZLU LP +HUEVW DXI GHU %DKQ ]XVDPPHQ YRQ 3VNRZ KLHUKHUIXKUHQ GX LP0DQWHOZHLWGXQRFKXQGLQ*DPDVFKHQ"© 5RJRVKLQ ODFKWH SO|W]OLFK ODXW DXI GLHVHV 0DO PLW XQYHUKRKOHQHU)HLQGVHOLJNHLWXQGDOVIUHXWHHUVLFKGDHVLKP JHOXQJHQ ZDU GLHVH *HVLQQXQJ ZHQLJVWHQV DXI LUJHQGHLQH :HLVH ]XP $XVGUXFN ]X EULQJHQ ª:RKQVW GX KLHU IU GLH 'DXHU"© IUDJWH GHU )UVW LQGHP HU GDV $UEHLWV]LPPHU PXVWHUWHª-DLFKELQKLHU]X+DXVH:RVROOWHLFKDXFKVRQVW KLQ"© ª:LU KDEHQ XQV ODQJH QLFKW JHVHKHQ ,FK KDEH YRQ GLU 'LQJHJHK|UWGLHGLUJDUQLFKWlKQOLFKVHKHQ©ª:DVUHGHQGLH /HXWHQLFKWDOOHV©EHPHUNWH5RJRVKLQWURFNHQª$EHUGXKDVW GRFKGHLQHJDQ]H/HLENRKRUWHZHJJHMDJWXQGZRKQVWQXQKLHU LP HOWHUOLFKHQ +DXV XQG EHJHKVW NHLQH WROOHQ 6WUHLFKH PHKU 'DV LVW UHFKW VFK|Q *HK|UW GDV +DXV GLU RGHU HXFK DOOHQ JHPHLQVDP"©ª'DV+DXVJHK|UWGHU0XWWHU=XLKUJHKWHVDXI GHU DQGHUQ 6HLWH GHV )OXUV© ª8QG ZR ZRKQW GHLQ %UXGHU"© ª%UXGHU 6HPMRQ 6HPMRQ\WVFK ZRKQW LP 1HEHQJHElXGH© ª,VW HUYHUKHLUDWHW"©ª:LWZHU:R]XZLOOVWGXGDVZLVVHQ"© 'HU )UVW EOLFNWH YRU VLFK KLQ XQG HUZLGHUWH QLFKWV HU ZDU SO|W]OLFK LQ *HGDQNHQ YHUVXQNHQ XQG VFKLHQ GLH )UDJH JDU QLFKWJHK|UW]XKDEHQ5RJRVKLQGUDQJQLFKWDXIHLQH$QWZRUW VRQGHUQ ZDUWHWH UXKLJ 6LH VFKZLHJHQ EHLGH ª,FK KDEH GHLQ +DXV DOV LFK QlKHU NDP DXI KXQGHUW 6FKULWWH DOV GDV GHLQLJH HUNDQQW©VDJWHGHU)UVWª:RUDQGHQQ"©ª'DVZHLLFKQLFKW 'HLQ +DXV KDW GLH 3K\VLRJQRPLH HXUHU JDQ]HQ )DPLOLH XQG HXUHV JDQ]HQ 5RJRVKLQVFKHQ /HEHQV ZHQQ GX PLFK DEHU IUDJVWZRUDXIVLFK GLHVH PHLQH $QVFKDXXQJ JUQGHW VR NDQQ LFK GDIU NHLQH (UNOlUXQJ JHEHQ (V LVW QDWUOLFK QXU (LQELOGXQJ ,FK ELQ VRJDU LQ 6RUJH GDUEHU GD PLFK VROFKH 'LQJH VR DXIUHJHQ )UKHU ZlUH PLU JDU QLFKW GHU *HGDQNH JHNRPPHQ GD GX JHUDGH LQ HLQHP VROFKHQ +DXVH ZRKQHQ
ZUGHVW DEHU VRZLH LFK HV MHW]W HUEOLFNWH PXWH LFK VRIRUW GHQNHQ -D JHUDGH VR PX VHLQ +DXV DXVVHKHQ© ª6LHK PDO DQ© YHUVHW]WH 5RJRVKLQ PLW HLQHP XQEHVWLPPWHQ /lFKHOQ RKQH GHQ XQNODUHQ *HGDQNHQ GHV )UVWHQ UHFKW ]X YHUVWHKHQ ª'LHVHV +DXV KDW QRFK GHU *URYDWHU JHEDXW© EHPHUNWH HU ª(V KDEHQ LPPHU 6NRS]HQ GDULQ JHZRKQW GLH )DPLOLH &KOXGMDNRZ GLH ZRKQHQ DXFK MHW]W KLHU ]XU 0LHWH© ª(V LVW KLHU VR GVWHU 'X VLW]W KLHU VR LP 'XQNOHQ© VDJWH GHU )UVW LQGHPHUVLFKLP$UEHLWV]LPPHUXPVDK (V ZDU HLQ JURHV KRKHV GXQNOHV =LPPHU PLW DOOHUOHL 0|EHOQ YROOJHVWHOOW PHLVW JURHQ $UEHLWVWLVFKHQ 6FKUHLEWLVFKHQ XQG 6FKUlQNHQ LQ GHQHQ *HVFKlIWVEFKHU XQG 3DSLHUHDXIEHZDKUWZXUGHQ(LQEUHLWHVURWHV/HGHUVRIDGLHQWH RIIHQEDU DOV 5RJRVKLQV %HWW 'HU )UVW EHPHUNWH DXI GHP 7LVFK DQ GHP LKQ 5RJRVKLQ KDWWH 3ODW] QHKPHQ ODVVHQ HLQ SDDU %FKHU HLQHV YRQ LKQHQ 6RORZMRZV *HVFKLFKWH 5XODQGV ZDU DXIJHVFKODJHQ XQG PLW HLQHP /HVH]HLFKHQ YHUVHKHQ$QGHQ:lQGHQKLQJHQLQWUEHQ*ROGUDKPHQHLQLJH gOJHPlOGHGLHVRGXQNHOJHZRUGHQZDUHQGDVLFKDXILKQHQ VFKZHU HWZDV HUNHQQHQ OLH (LQ OHEHQVJURHV 3RUWUlW ]RJ GLH $XIPHUNVDPNHLW GHV )UVWHQ DXI VLFK HV VWHOOWH HLQHQ HWZD IQI]LJMlKULJHQ 0DQQ GDU LQ HLQHP ODQJVFK|LJHQ 5RFN YRQ GHXWVFKHP 6FKQLWW PLW ]ZHL 0HGDLOOHQ DP +DOVH HLQHP VHKU GQQHQ NXU]HQ JUDXHQ %DUW UXQ]OLJHP JHOEHP *HVLFKW XQG PLWUDXLVFKHP YHUVFKORVVHQHP ILQVWHUHP %OLFN ª'DV LVW ZRKOGHLQ9DWHU"©IUDJWHGHU)UVWª-DGDVLVWHU©DQWZRUWHWH 5RJRVKLQ PLW XQDQJHQHKPHP /lFKHOQ DOV KlWWH HU YRU LP QlFKVWHQ $XJHQEOLFN LUJHQGHLQHQ XQJHQLHUWHQ 6FKHU] EHU VHLQHQ YHUVWRUEHQHQ 9DWHU ]X PDFKHQ ª:DU HU HLQ $OWJOlXELJHU"© ª1HLQ HU JLQJ LQ GLH .LUFKH DEHU HU VDJWH DOOHUGLQJVGHUDOWH*ODXEHVHLULFKWLJHU$XFKYRUGHQ6NRS]HQ KDW HU $FKWXQJ JHKDEW 'LHV KLHU ZDU VHLQ $UEHLWV]LPPHU :DUXPIUDJVWGXGDQDFKREHUDOWJOlXELJZDU"©ª:LUVWGXGLH +RFK]HLWKLHUIHLHUQ"©ª-MD©DQWZRUWHWH5RJRVKLQGHUEHLGHU
XQHUZDUWHWHQ )UDJH ]XVDPPHQ]XFNWH ª:HUGHW LKU EDOG KHLUDWHQ"© ª'X ZHLW MD VHOEVW GD GDV QLFKW YRQ PLU DEKlQJW© ª3DUIHQ LFK ELQ QLFKW GHLQ )HLQG XQG EHDEVLFKWLJH QLFKWGLULUJHQGZLHKLQGHUOLFK]XVHLQ ,FKZLHGHUKROHGLUGDV MHW]WHEHQVRZLHLFKHVGLUIUKHUHLQPDOLQHLQHPIDVWJOHLFKHQ $XJHQEOLFN DXVJHVSURFKHQ KDEH $OV LQ 0RVNDX GHLQH +RFK]HLWEHYRUVWDQGELQLFKGLUQLFKWKLQGHUOLFKJHZHVHQGDV ZHLW GX 'DV HUVWHPDO NDP VLH VHOEVW ]X PLU KLQJHVWU]W XQPLWWHOEDU YRU GHU 7UDXXQJ XQG EDW PLFK VLH YRU GLU ]X ¾UHWWHQ½ ,FK ZLHGHUKROH GLU LKUHQ HLJHQHQ $XVGUXFN 'DQQ LVW VLH DXFK YRQ PLU ZHJJHODXIHQ GX KDVW VLH ZLHGHU DXVILQGLJ JHPDFKW XQG ]XP $OWDU JHIKUW XQG GD LVW VLH ZLH HV KHLW ZLHGHUYRQGLUZHJJHODXIHQKLHUKHU ,VWGDVZDKU"0LUKDWHV /HEHGHZ VR PLWJHWHLOW XQG GDUXP ELQ LFK KHUJHUHLVW 'D LKU HXFK DEHU KLHU ZLHGHU JHHLQLJW KDEW GDV KDEH LFK HUVW JHVWHUQ ]XPHUVWHQPDOYRQHLQHPGHLQHUIUKHUHQ)UHXQGHJHK|UWYRQ 6DOMRVKHZZHQQGX HV ZLVVHQ ZLOOVW +LHUKHUJHIDKUHQ ELQ LFK DEHULQIROJHQGHU$EVLFKWLFKZROOWHVLHHQGOLFKEHUUHGHQ]XU :LHGHUKHUVWHOOXQJLKUHU*HVXQGKHLWLQV$XVODQG]XUHLVHQ6LH LVWN|USHUOLFKXQGVHHOLVFKVHKUKHUXQWHUJHNRPPHQQDPHQWOLFK KDW LKU .RSI VWDUN JHOLWWHQ XQG VLH EHGDUI PHLQHV (UDFKWHQV VRUJVDPVWHU 3IOHJH ,FK ZROOWH VLH QLFKW VHOEVW LQV $XVODQG EHJOHLWHQ VRQGHUQ KDWWH LQ $XVVLFKW JHQRPPHQ DOOHV 1|WLJH RKQHPHLQHSHUV|QOLFKH$QZHVHQKHLWHLQ]XULFKWHQ,FKVDJHGLU GLH UHLQH :DKUKHLW :HQQ HV ZLUNOLFK ]XWULIIW GD LKU HXFK ZLHGHU JHHLQLJWKDEW GDQQ ZHUGH LFK LKU JDU QLFKW YRU $XJHQ WUHWHQ XQG DXFK ]X GLU QLH ZLHGHU NRPPHQ 'X ZHLW VHOEVW GDLFKGLFKQLFKWWlXVFKHGDLFKLPPHUJHJHQGLFKDXIULFKWLJ JHZHVHQ ELQ :LH LFK GDUEHU GHQNH GDUDXV KDEH LFK GLU QLH HLQ +HKO JHPDFKW XQG KDEH GLU LPPHU JHVDJW GD HV LKU VLFKHUHV 9HUGHUEHQ LVW ZHQQ VLH GHLQH )UDX ZLUG 8QG DXFK GHLQ 9HUGHUEHQ ZLUG HV VHLQ YLHOOHLFKW LQ QRFK VFKOLPPHUHP *UDGDOVGDVLKUH:HQQLKUHXFKZLHGHUWUHQQWHWVRZUGHGDV IU PLFK HLQH JURH %HUXKLJXQJ DEHU ]ZLVFKHQ HXFK
8QIULHGHQ ]X VWLIWHQ XQG HXFK DXVHLQDQGHU]XEULQJHQ LVW QLFKW PHLQH $EVLFKW 6HL GRFK UXKLJ XQG KHJH NHLQHQ $UJZRKQ JHJHQ PLFK 'X ZHLW MD GRFK VHOEVW GD LFK QLHPDOV GHLQ ZLUNOLFKHU 1HEHQEXKOHU JHZHVHQ ELQ VHOEVW GDPDOV QLFKW DOV VLHVLFK]XPLUJHIOFKWHWKDWWH'XODFKWHVWMHW]WHEHQXQGLFK ZHL ZDUXP GX HV WXVW $EHU ZLU KDEHQ GRUW JHWUHQQW JHOHEW VLHXQGLFKXQGGDQQVRJDU LQ YHUVFKLHGHQHQ 6WlGWHQ XQG GX ZHLWGDVDOOHVGRFK JDQ]JHQDX ,FKKDEHGLUMD VFKRQ IUKHU DXVHLQDQGHUJHVHW]W GD LFK VLH QLFKW DXV /LHEH VRQGHUQ DXV 0LWOHLG JHUQ KDEH ,FK PHLQH LFK KDEH GDV GDPDOV NODU GDUJHOHJW 'X VDJWHVW GDPDOV GX KlWWHVW GLHVH PHLQH :RUWH YHUVWDQGHQQLFKWZDKU"+DVWGXVLHDXFKZLUNOLFKYHUVWDQGHQ" 2KZLHYROO+DGXPLFKDQVLHKVW,FKELQKHUJHNRPPHQXP GLFK ]X EHUXKLJHQ ZHLO DXFK GX PLU WHXHU ELVW ,FK KDEH GLFK VHKU OLHE 3DUIHQ ,FK JHKH MHW]W XQG NRPPH QLHPDOV ZLHGHU /HEHZRKO© 'HU )UVW VWDQG DXI ª%OHLE QRFK HLQ :HLOFKHQ EHL PLU VLW]HQ© VDJWH 3DUIHQ OHLVH HU HUKRE VLFK QLFKW YRQ VHLQHP 3ODW] XQG OHJWH GHQ .RSI LQ GLH UHFKWH +DQG ª,FK KDEH GLFK ODQJH QLFKW JHVHKHQ© 'HU )UVW VHW]WH VLFK ZLHGHU %HLGH VFKZLHJHQª:HQQLFKGLFKQLFKWYRUPLUVHKHIKOHLFKJOHLFK JHJHQ GLFK HLQHQ *UROO /HZ 1LNRODMHZLWVFK ,Q GLHVHQ GUHL 0RQDWHQ ZR LFK GLFK QLFKW JHVHKHQ KDEH ELQ LFK MHGHQ $XJHQEOLFN DXI GLFK HUJULPPW JHZHVHQ EHL *RWW ,FK KlWWH GLFKYHUJLIWHQP|JHQ6RVWHKWGDV8QGMHW]WKDVWGXQXQQRFK QLFKW HLQH 9LHUWHOVWXQGH EHL PLU JHVHVVHQ XQG VFKRQ LVW PHLQ JDQ]HU*UROOYHUJDQJHQXQGGXELVWPLUZLHGHUOLHEXQGWHXHU ZLHIUKHU%OHLEQRFKHLQ:HLOFKHQEHLPLUVLW]HQ©ª:HQQ LFKEHLGLUELQGDQQJODXEVWGXPLUXQGZHQQLFKQLFKWGDELQ GDQQ K|UVW GX JOHLFK DXI PLU ]X YHUWUDXHQ XQG KDVW PLFK ZLHGHU LP 9HUGDFKW 'X VFKOlJVW JDQ] QDFK GHLQHP 9DWHU© DQWZRUWHWH GHU )UVW IUHXQGOLFK OlFKHOQG XQG EHPKW VHLQH 5KUXQJ]XYHUEHUJHQª,FKJODXEHGHP.ODQJGHLQHU6WLPPH ZHQQ LFK EHL GLU VLW]H ,FK YHUVWHKH MD GD ZLU EHLGH GX XQG
LFK QLFKW PLWHLQDQGHU ]X YHUJOHLFKHQ VLQG © ª:DUXP IJVW GX GDV KLQ]X" 8QG JOHLFK ELVW GX ZLHGHU LQ JHUHL]WHU 6WLPPXQJ© YHUVHW]WH GHU )UVW GHU VLFK EHU 5RJRVKLQ ZXQGHUWH ª:LU ZHUGHQ LQ GLHVHU +LQVLFKW QLFKW QDFK XQVHUHU 0HLQXQJ JHIUDJW© DQWZRUWHWH GLHVHU ªGDV ZLUG RKQH XQVHU =XWXQ EHVWLPPW :LU EHLGH OLHEHQ MD DXFK DXI YHUVFKLHGHQH :HLVH HV LVW HEHQ LQ DOOHP HLQ 8QWHUVFKLHG© IXKU HU QDFK NXU]HP6WLOOVFKZHLJHQOHLVHIRUW ª'XOLHEVWVLHZLHGXVDJVW DXV 0LWOHLG 9RQ VROFKHP 0LWOHLG PLW LKU LVW EHL PLU QLFKWV YRUKDQGHQ 8QG VLH KDW PLFK MD DXFK KDW PLFK PHKU DOV LUJHQGHLQHQDQGHUQ0HQVFKHQ,FKWUlXPHMHW]WMHGH1DFKWYRQ LKUXQG]ZDULPPHUGDVLHVLFKPLWHLQHPDQGHUQEHUPLFK OXVWLJPDFKW6RVWHKWGLH6DFKH%UXGHU6LHJHKWPLWPLU]XP 7UDXDOWDU XQG GHQNW GDEHL DQ PLFK PLW NHLQHP *HGDQNHQ VLH KDW GDEHL NHLQH DQGHUH (PSILQGXQJ DOV ZHQQ VLH GLH 6FKXKH ZHFKVHOWH:LUVWGXHV JODXEHQ")QI7DJHKDEHLFK VLH QLFKW JHVHKHQ ZHLO LFK QLFKW ZDJH ]X LKU KLQ]XIDKUHQ LFK IUFKWH VLH IUDJW PLFK ¾:DUXP ELVW GX KHUJHNRPPHQ"½ 8QG ZLH RIW KDW VLH PLU 6FKLPSI DQJHWDQ © ª'LU 6FKLPSI DQJHWDQ" :DV UHGHVW GX© ª$OV RE GX HV QLFKW ZWHVW 6LH LVW MD GRFK YRQ PLU XQPLWWHOEDU YRU GHU 7UDXXQJ PLW GLU VHOEVW ZHJJHODXIHQ GDVKDVWGXMDHEHQVHOEVWJHVDJW© ª$EHUGXZLUVWGRFKVHOEVW QLFKW JODXEHQ GD © ª8QG KDW VLH PLFK QLFKW PLW GHP 2IIL]LHU GLHVHP 6HPWMXVKQLNRZ LQ 0RVNDX EHWURJHQ" ,FK ZHLEHVWLPPWGDVLHHVJHWDQKDWXQGQRFKGD]XQDFKGHP VLH GHQ 7DJ IU GLH 7UDXXQJ VHOEVW DQJHVHW]W KDWWH© ª'DV LVW XQP|JOLFK© ULHI GHU )UVW ª,FK ZHL HV VLFKHU© HUNOlUWH 5RJRVKLQLP7RQGHUIHVWHVWHQhEHU]HXJXQJ ª'DVOLHJWQLFKW LQ LKUHP :HVHQ ZLOOVW GX VDJHQ QLFKW ZDKU" 'DV LVW ULFKWLJ %UXGHUGDGDVQLFKWLQLKUHP:HVHQOLHJW$EHUGDVLVWGRFK QXU OHHUHV *HUHGH 'LU JHJHQEHU ZLUG VLH VLFK QLFKW VR EHQHKPHQ XQG HLQ VROFKHV %HWUDJHQ YLHOOHLFKW VHOEVW YHUDEVFKHXHQ DEHUPLU JHJHQEHUEHQLPPW VLH VLFK QXQ HEHQ VR6RLVWHVQXQHLQPDO6LHEHWUDFKWHWPLFKDOVGDVQLHGULJVWH
*HVFK|SI DXI *RWWHV (UGERGHQ 8QG PLW .HOOHU GLHVHP 2IIL]LHUGHUVRJHUQER[WKDWVLHVLFKOHGLJOLFKLQGHU$EVLFKW HLQJHODVVHQVLFKEHUPLFKOXVWLJ]XPDFKHQ8QGGXZHLW QRFK QLFKW ZDV VLH PLW PLU LQ 0RVNDX DQJHVWHOOW KDW 8QG ZLHYLHO *HOG ZLHYLHO *HOG KDW PLFK GDV DOOHV JHNRVWHW © ª$EHU ZLH LQ DOOHU :HOW NDQQVW GX VLH GHQQ XQWHU VROFKHQ 8PVWlQGHQKHLUDWHQ":LHVROOGHQQGDVVSlWHUZHUGHQ"IUDJWH GHU)UVWJDQ]HUVFKURFNHQ5RJRVKLQZDUIGHP)UVWHQHLQHQ JULPPLJHQ IXUFKWEDUHQ %OLFN ]X XQG DQWZRUWHWH QLFKW ª,FK ELQMHW]WVFKRQIQI7DJHQLFKWEHLLKU JHZHVHQ© IXKUHUIRUW QDFKGHPHUXQJHIlKUHLQH0LQXWHODQJJHVFKZLHJHQKDWWHª,FK IUFKWH LPPHU GD VLH PLFK ZHJMDJW 6LH VDJW ¾,FK ELQ QRFK LPPHUPHLQHHLJHQH+HUULQZHQQLFKZLOOMDJHLFKGLFKJDQ] IRUWXQGUHLVHVHOEVWLQV$XVODQG½GDYRQKDWVLH]XPLUVFKRQ JHVSURFKHQ GD VLH LQV $XVODQG UHLVHQ ZLOO © EHPHUNWH HU JOHLFKVDP LQ .ODPPHUQ XQG VDK GHP )UVWHQ LQ JDQ] EHVRQGHUHU $UW LQ GLH $XJHQ ª0DQFKPDO DOOHUGLQJV ZLOO VLH PLU GDPLW QXU )XUFKW HLQMDJHQ VLH P|FKWH VLFK LPPHU EHU PLFK OXVWLJ PDFKHQ DEHU ]X DQGHUQ =HLWHQ LVW VLH ZLUNOLFK LQ ILQVWHUHU 6WLPPXQJ ]LHKW GLH $XJHQEUDXHQ ]XVDPPHQ XQG VDJW NHLQ :RUW XQG GDV LVW¶V ZDV LFK DP PHLVWHQ IUFKWH 1HXOLFK GDFKWH LFK ¾,FK ZLOO GRFK QLFKW LPPHU PLW OHHUHQ +lQGHQ ]X LKU NRPPHQ½ DEHU VLH ODFKWH QXU VS|WWLVFK EHU PHLQH *HVFKHQNH XQG ZXUGH GDQQ VRJDU HUQVWOLFK ]RUQLJ ,FK KDWWHLKUHLQHQVRVFK|QHQ6FKDOJHVFKHQNWGDLKUREZRKOVLH IUKHULP/X[XVJHOHEWKDWVHLQHVJOHLFKHQZRKOQRFKQLFKWYRU $XJHQ JHNRPPHQ ZDU GHQ KDW VLH LKUHP 6WXEHQPlGFKHQ .DWMNDJHVFKHQNW8QGYRQGHP7HUPLQIUGLH+RFK]HLWGDUI LFKJDUQLFKW]XUHGHQDQIDQJHQ,FKNDQQPLFKMDJDUQLFKWDOV LKUHQ%UlXWLJDPDQVHKHQZHQQLFKPLFKIUFKWHDXFKQXU]X LKU KLQ]XJHKHQ 'D VLW]H LFK QXQ KLHU XQG ZHQQ LFK HV QLFKW PHKU DXVKDOWHQ NDQQ GDQQ JHKH LFK KHLPOLFK XQG YHUVWRKOHQ DXI GHU 6WUDH DQ LKUHP +DXVH YRUEHL RGHU YHUVWHFNH PLFK LUJHQGZR KLQWHU HLQHU (FNH 1HXOLFK KDEH LFK EHLQDK ELV ]XP
0RUJHQJUDXHQLQGHU1lKHLKUHU+DXVWUJHODXHUWLFKKDWWHVR HLQHQ 9HUGDFKW $EHU VLH KDWWH PLFK ZRKO GXUFK GDV )HQVWHU EHPHUNWXQGVDJWHQDFKKHU¾:DVZUGHVWGXPLWPLUPDFKHQ ZHQQGXVlKHVWGDLFKGLFKEHWUJH"½ ,FKNRQQWHPLFKQLFKW KDOWHQ XQG VDJWH ¾'DV ZHLW GX VHOEVW½© ª:DV VROO VLH ZLVVHQ"© ª:RKHU VROO LFK HV GHQQ ZLVVHQ"© HUZLGHUWH 5RJRVKLQ JULPPLJ DXIODFKHQG ª,Q 0RVNDX KDEH LFK VLH GDPDOV PLW NHLQHP DEIDVVHQ N|QQHQ REZRKO LFK ODQJH DXISDWH,FKQDKPVLHPLUGDPDOVHLQPDOYRUXQGVDJWH]XLKU ¾'XELVWPLWPLUYHUOREWXQGZLOOVWLQHLQHHKUHQKDIWH )DPLOLH HLQWUHWHQ ZHLW GX MHW]W DEHU DXFK ZDV GX IU HLQH ELVW" 6R HLQH ELVW GX½ VDJWH LFK© ª'DV KDVW GX ]X LKU JHVDJW"© ª-D© ª1XQXQGVLH"©ª¾,FKKDEHMHW]WYLHOOHLFKWQLFKWHLQPDO/XVW½ VDJWH VLH ¾GLFK DOV /DNDLHQ DQ]XQHKPHQ JHVFKZHLJH GHQQ GHLQH )UDX ]X ZHUGHQ½ ± ¾8QG LFK½ VDJWH LFK ¾JHKH PLW VROFKHP %HVFKHLG QLFKW ZHJ GLH 6DFKH PX VR RGHU VR HLQ (QGHKDEHQ½±¾8QGLFK½VDJWHVLH¾ZHUGHJOHLFK.HOOHUUXIHQ XQG LKP VDJHQ HU VROO GLFK DXV GHP +DXV KLQDXVZHUIHQ½ 'D KDEH LFK PLFK DXI VLH JHVWU]W XQG VLH JHVFKODJHQ GD VLH EODXH )OHFNH GDYRQ EHNDP© ª(V LVW QLFKW P|JOLFK© ULHI GHU )UVW ª,FK VDJH GLU HV LVW VR JHZHVHQ© HUZLGHUWH 5RJRVKLQ OHLVH DEHU PLW IXQNHOQGHQ $XJHQ ª6HFKVXQGGUHLLJ 6WXQGHQ ODQJKDEHLFKQLFKWJHVFKODIHQQLFKWJHJHVVHQQLFKWJHWUXQNHQ XQGLKU=LPPHUQLFKWYHUODVVHQDXIGHQ.QLHQKDEHLFKYRULKU JHOHJHQ¾,FKVWHUEHKLHU½VDJWHLFK¾LFKJHKHQLFKWKLQDXVHKH GXPLUQLFKWYHU]HLKVWXQGZHQQGXPLFKKLQDXVEULQJHQOlW HUWUlQNH LFK PLFK GHQQ ZLH ZHUGH LFK MHW]W RKQH GLFK OHEHQ N|QQHQ"½6LHZDUGHQJDQ]HQ7DJZLHHLQH:DKQVLQQLJHEDOG ZHLQWHVLHEDOGZROOWHVLHPLFKPLWHLQHP0HVVHUW|WHQEDOG VFKLPSIWH VLH DXI PLFK 6LH ULHI 6DOMRVKHZ .HOOHU 6HPWMXVKQLNRZ XQG DOOH DQGHUQ KHUEHL ZLHV YRU DOOHU $XJHQ PLW GHP )LQJHU DXI PLFK XQG VFKPlKWH PLFK ¾:LU ZROOHQ KHXWHDOOH]XVDPPHQLQV7KHDWHUIDKUHQPHLQH+HUUHQ½VDJWH VLH¾PDJHUKLHUVLW]HQEOHLEHQZHQQHUQLFKWZHJJHKHQZLOO
LFK EUDXFKH GRFK VHLQHWZHJHQ QLFKW GDV +DXV ]X KWHQ (V ZLUG ,KQHQ KLHU ZlKUHQG LFK ZHJ ELQ 7HH JHUHLFKW ZHUGHQ 3DUIHQ 6HPMRQRZLWVWK 6LH PVVHQ MD KHXWH JDQ] KXQJULJ JHZRUGHQVHLQ½6LHNHKUWHDOOHLQDXVGHP7KHDWHU]XUFN¾'DV VLQG)HLJOLQJHXQG6FKXIWH½VDJWHVLH¾VLHIUFKWHQVLFKYRUGLU XQG ZROOHQ DXFK PLU $QJVW PDFKHQ VLH VDJHQ ª(U ZLUG VR QLFKW IRUWJHKHQ HU ZLUG 6LH DP (QGH QRFK HUPRUGHQ© $EHU LFKZHUGHZHQQLFKLQPHLQ6FKODI]LPPHUJHKHGLH7UQLFKW KLQWHUPLU]XVFKOLHHQVRZHQLJIUFKWHLFKPLFKYRUGLU'DV PDJVW GX ZLVVHQ XQG PLW HLJHQHQ $XJHQ VHKHQ +DVW GX 7HH JHWUXQNHQ"½ ± ¾1HLQ½ VDJWH LFK ¾XQG LFK ZHUGH DXFK NHLQHQ WULQNHQ½ ± ¾'DV OLHH VLFK K|UHQ ZHQQ GX HLQ (KUHQPDQQ ZlUHVW VR DEHU VWHKW GLU GDV VHKU ZHQLJ½ 8QG ZLH VLH JHVDJW KDWWH VR WDW VLH DXFK VLH VFKOR LKU =LPPHU QLFKW ]X $P 0RUJHQ NDP VLH ZLHGHU ]X PLU KHUHLQ XQG ODFKWH ¾'X KDVW ZRKOGHQ9HUVWDQGYHUORUHQ½VDJWHVLH¾QLFKWZDKU"'XZLUVW MD DXI GLHVH :HLVH +XQJHUV VWHUEHQ½ ± ¾9HU]HLK PLU½ VDJWH LFK ± ¾,FK ZLOO GLU QLFKW YHU]HLKHQ XQG ZHUGH GLFK QLFKW KHLUDWHQLFKKDEHHVGLUMDJHVDJW+DVWGXZLUNOLFKGLHJDQ]H 1DFKW DXI GLHVHP 6WXKO JHVHVVHQ XQG QLFKW JHVFKODIHQ"½ ± ¾1HLQ½ VDJWH LFK ¾LFK KDEH QLFKW JHVFKODIHQ½ ± ¾:DV ELVW GX IU HLQ JHVFKHLWHU 0HQVFK 8QG ZLUVW GX QXQ KHXWH ZLHGHU NHLQHQ7HHWULQNHQXQGQLFKW]X0LWWDJHVVHQ"½±¾,FKKDEHGLU MD JHVDJW GD LFK HV QLFKW WXQ ZHUGH 9HU]HLK PLU½ ± ¾:HQQ GXQXUZWHVWZLHZHQLJGLUGDVVWHKW½VDJWHVLH¾JHUDGHZLH HLQHU .XK HLQ 6DWWHO 0HLQVW GX HWZD PLFK GDGXUFK HLQ]XVFKFKWHUQ" :DV VFKDGHW HV PLU GHQQ ZHQQ GX KXQJULJ GDVLW]W" 1HLQ ZLH PLFK GDV lQJVWLJW½ 6LH ZXUGH ]RUQLJ DEHU GDV GDXHUWH QLFKW ODQJH GDQQ ILQJ VLH ZLHGHU DQ PLFK ]X K|KQHQ8QGGDZXQGHUWHLFKPLFKEHUVLHZLH HV NDP GD HLJHQWOLFKVRJDUNHLQH%RVKHLWDXVLKUUHGHWH8QG GRFK WUlJW VLH DQGHUQ GDV %|VH GDV VLH LKU DQJHWDQ KDEHQ QDFK WUlJW HV LKQHQ ODQJH QDFK 0LU VFKR GDPDOV GHU *HGDQNH GXUFK GHQ .RSIVLHP|JHPLFKZRKOVRJHULQJVFKlW]HQGDVLHPLUQLFKW
HLQPDO HUQVWOLFK E|VH VHLQ N|QQH 8QG GDV LVW DXFK GLH :DKUKHLW ¾:HLW GX½ VDJWH VLH ¾ZDV HV PLW GHP U|PLVFKHQ 3DSVWIUHLQH %HZDQGWQLV KDW"½ ± ¾,FK KDEH YRQ LKP JHK|UW½ VDJWH LFK ± ¾'X KDVW NHLQH :HOWJHVFKLFKWH JHOHUQW 3DUIHQ 6HPMRQRZLWVFK½ VDJWH VLH ± ¾,FK KDEH EHUKDXSW QLFKWV JHOHUQW½ VDJWH LFK ± ¾1XQ½ VDJWH VLH ¾GD ZLOO LFK GLU HLQPDO HWZDV]XOHVHQ JHEHQ HV JDE HLQPDO HLQHQ 3DSVW GHU ZDU DXI HLQHQ .DLVHU ]RUQLJ XQG GHU .DLVHU ODJ YRU GHP 3DODVW GHV 3DSVWHVGUHL7DJHRKQH]XWULQNHQ XQG RKQH ]X HVVHQ EDUIX DXIGHQ.QLHQELVGHULKPYHU]LHK:DVPHLQVWGX":DVPDJ ZRKO GHU .DLVHU LQ GLHVHQ GUHL 7DJHQ DOV HU GD NQLHWH LP VWLOOHQ JHGDFKW XQG ZDV IU *HOEGH PDJ HU ZRKO DEJHOHJW KDEHQ" $EHU ZDUWH½ VDJWH VLH ¾LFK ZHUGH HV GLU VHOEVW YRUOHVHQ½6LHVSUDQJDXIXQGKROWHHLQ%XFK¾(VVLQG9HUVH½ VDJWH VLH XQG EHJDQQ PLU LQ 9HUVHQ YRU]XOHVHQ ZLH GLHVHU .DLVHU VLFK LQ GLHVHQ GUHL 7DJHQ VFKZRU GD HU VLFK DQ GHP 3DSVWH UlFKHQ ZHUGH ¾*HIlOOW GLU GDV GHQQ QLFKW 3DUIHQ 6HPMRQRZLWVFK"½ VDJWH VLH ± ¾:DV GX GD JHOHVHQ KDVW½ VDJWH LFK ¾LVW DOOHV VHKU ULFKWLJ½ ± ¾$KD GX VDJVW VHOEVW GD HV ULFKWLJ LVW DOVR WXVW GX YLHOOHLFKW HEHQIDOOV HLQ *HOEGH YRQ GLHVHU $UW ª:HQQ VLH PLFK KHLUDWHW GDQQ ZHUGH LFK GDUDQ GHQNHQ XQG LKU¶V KHLP]DKOHQ©½ ± ¾,FK ZHL QLFKW½ VDJWH LFK ¾YLHOOHLFKWGHQNHLFKZLUNOLFKVR½±¾:LHLVWGHQQGDVP|JOLFK GDGXHVQLFKWZHLW"½±¾,FKZHLHVHLQIDFKQLFKW½VDJWHLFK ¾LFK GHQNH MHW]W DQ DQGHUH 'LQJH½ ± ¾:RUDQ GHQNVW GX GHQQ MHW]W"½ ± ¾:HQQ GX YRQ GHLQHP 3ODW]H DXIVWHKVW XQG DQ PLU YRUEHLJHKVWGDQQEOLFNHLFKQDFKGLUKLQXQGIROJHGLUPLWGHQ $XJHQXQGZHQQGHLQ.OHLGUDVFKHOWGDQQVWHKWPLUGDV+HU] VWLOO XQG ZHQQ GX DXV GHP =LPPHU JHKVW GDQQ UXIH LFK PLU MHGHV:RUWGDVGXJHVDJWKDVWLQV*HGlFKWQLV]XUFNXQGPLW ZHOFKHP 7RQH GX HV JHVDJW KDVW XQG ZHOFKHQ 6LQQ HV KDWWH XQG GLHVH JDQ]H 1DFKW KDEH LFK DQ QLFKWV JHGDFKW LFK KDEH LPPHUQXUGDQDFKKLQJHKRUFKWZLHGXLP6FKODIDWPHWHVWXQG ZLHGXGLFKHLQSDDUPDOEHZHJWHVW½±¾'DGHQNVWGXZRKO½
VDJWHVLHODFKHQG¾DP(QGHJDUDXFKQLFKWPHKUGDUDQGDGX PLFK JHVFKODJHQ KDVW XQG KDVW HV JDQ] YHUJHVVHQ"½ ± ¾9LHOOHLFKWGHQNHLFKQLFKWPHKUGDUDQ½VDJWHLFK¾LFKZHLHV QLFKW½±¾$EHUZHQQLFKGLUQXQQLFKWYHU]HLKHXQGGLFKQLFKW KHLUDWH"½ ± ¾,FK KDEH VFKRQ JHVDJW GD LFK PLFK GDQQ HUWUlQNH½±¾9LHOOHLFKWW|WHVWGXPLFK QRFK YRUKHU ½ $OV VLH GDV JHVDJW KDWWH YHUVDQN VLH LQ 1DFKGHQNHQ 'DQQ ZXUGH VLH ]RUQLJXQG JLQJKLQDXV (LQH 6WXQGH GDUDXI NDP VLH PLW JDQ] ILQVWHUHU0LHQHZLHGHU]XPLUKHUHLQ¾,FKZHUGHGLFKKHLUDWHQ 3DUIHQ6HPMRQRZLWVFK½VDJWHVLH¾QLFKWZHLOLFKYRUGLU$QJVW KDEHVRQGHUQ ZHLO HV JDQ] JOHLFK LVW ZLH LFK ]XJUXQGH JHKH 'DLVWHLQH$UWQLFKWEHVVHUDOVGLHDQGHUH6HW]GLFKKLQ½VDJWH VLH ¾HV ZLUG JOHLFK GDV 0LWWDJHVVHQ IU GLFK DXIJHWUDJHQ ZHUGHQ8QGZHQQLFKGLFKKHLUDWH½IJWHVLHKLQ]X¾VRZHUGH LFK GLU HLQH WUHXH )UDX VHLQ GDUDQ ]ZHLIOH QLFKW GDUEHU EUDXFKVWGXGLFKQLFKW]XEHXQUXKLJHQ½'DQQVFKZLHJVLHHLQ :HLOFKHQXQGVDJWHGDUDXI¾'XELVWGRFKNHLQ/DNDLLFKKDWWH IUKHUJHPHLQWGXZlUHVWHLQULFKWLJHU/DNDLZLHHUOHLEWXQG OHEW½8QGGDVHW]WHVLHDXFKGLH+RFK]HLWDQDEHUHLQH:RFKH GDUDXI OLHI VLH PLU GDYRQ XQG IOFKWHWH VLFK ]X /HEHGHZ $OV LFK KHUNDP VDJWH VLH ]X PLU ¾,FK ZLOO GLFK QLFKW JlQ]OLFK DEZHLVHQ LFK ZLOO QXU QRFK ZDUWHQ VRODQJH HV PLU JHIlOOW GHQQLFKELQLPPHUQRFKPHLQHHLJHQH+HUULQ:DUWHDXFKGX ZHQQGXZLOOVW½6RVWHKWHVMHW]WEHLXQV:LHGHQNVWGXEHU GDV DOOHV /HZ 1LNRODMHZLWVFK"© ª:LH GHQNVW GX VHOEVW GDUEHU"©IUDJWHGHU)UVW]XUFNXQGEOLFNWH5RJRVKLQWUDXULJ DQ ª$EHU GHQNH LFK GHQQ EHUKDXSW"© ULHI GLHVHU KHIWLJ XQG XQZLOONUOLFK (U ZROOWH QRFK HWZDV KLQ]XIJHQ XQWHUGUFNWH HVDEHUXQGVFKZLHJLQJUHQ]HQORVHP.XPPHU 'HU )UVW HUKRE VLFK XQG ZROOWH ZLHGHU IRUWJHKHQ ª,FK ZHUGHGLUWURW]GHPQLFKWKLQGHUOLFKVHLQ©VDJWHHUOHLVHEHLQDK PHODQFKROLVFKDOVDQWZRUWHWHHUDXIHLQHQHLJHQHQKHLPOLFKHQ *HGDQNHQ ª:HLW GX ZDV LFK GLU VDJHQ ZHUGH"© ULHI 5RJRVKLQ HU ZXUGH DXI HLQPDO OHEKDIW XQG VHLQH $XJHQ
IXQNHOWHQª:LHGXVRYRUPLU]XUFNWUHWHQNDQQVWGDIUKDEH LFK NHLQ 9HUVWlQGQLV /LHEVW GX VLH GHQQ JDU QLFKW PHKU" )UKHU VFKPDFKWHWHVW GX GRFK QDFK LKU GDV KDEH LFK UHFKW ZRKOJHVHKHQ8QGZDUXPZlUVWGXGHQQMHW]W+DOVEHU.RSI KLHUKHUJHUHLVW" $XV 0LWOHLG"© 6HLQ *HVLFKW YHU]HUUWH VLFK ]X HLQHPERVKDIWHQ /lFKHOQ ª+HKH© ª'X PHLQVW GD LFK GLFK EHWUJH"© IUDJWH GHU )UVW ª1HLQ LFK JODXEH GLU DEHU LFK YHUVWHKH QLFKWV GDYRQ 'DV ZDKUVFKHLQOLFKVWH LVW ZRKO GD GHLQ0LWOHLGDP(QGHQRFKJU|HULVWDOVPHLQH/LHEH© (LQ E|VHU *HGDQNH GHU GDQDFK GUlQJWH VLFK VRIRUW ]X lXHUQIODPPWHDXIVHLQHP*HVLFKWDXIª1XQGHLQH/LHEHLVW YRP +D VFKZHU ]X XQWHUVFKHLGHQ© YHUVHW]WH GHU )UVW OlFKHOQGª:HQQVLHDEHUYHUJHKWZLUGGDV8QJOFNYLHOOHLFKW QRFK VFKOLPPHU VHLQ ,FK NDQQ GLU VFKRQ MHW]W VDJHQ %UXGHU 3DUIHQ©ª'DLFKVLHXPEULQJHQZHUGH"© 'HU )UVW ]XFNWH ]XVDPPHQ ª'D GX VLH JULPPLJ KDVVHQ ZLUVWIUGLHVHGHLQHMHW]LJH/LHEHXQGIUDOOGLH4XDOGLHGX MHW]W DXVVWHKVW )U PLFK LVW GDV DOOHUZXQGHUEDUVWH ZLH HV ]XJHKW GD VLH ZLHGHU EHUHLW LVW GLFK ]X KHLUDWHQ $OV LFK HV JHVWHUQ K|UWH ZROOWH LFK HV NDXP JODXEHQ XQG HV ZXUGH PLU JDQ]VFKZHUXPV+HU]6LHKDWVLFKMDVFKRQ]ZHLPDOYRQGLU ORVJHPDFKW XQG LVW XQPLWWHOEDU YRU GHU 7UDXXQJ GDYRQJHODXIHQ DOVR KDW VLH GRFK HLQ *HIKO GDIU ZDV LKU EHYRUVWHKW :DV LQ DOOHU :HOW UHL]W VLH MHW]W DQ GLU" (WZD GHLQ *HOG" 'DV LVW 8QVLQQ 8QG GX KDVW MD DXFK ZRKO YRQ GHLQHP *HOG VFKRQ HLQ JXW 7HLO YHUJHXGHW 2GHU P|FKWH VLH EHUKDXSW QXU HLQHQ 0DQQ EHNRPPHQ" $EHU HLQHQ 0DQQ N|QQWH VLH GRFK DXFK YRQ GLU DEJHVHKHQ PLW /HLFKWLJNHLW HUODQJHQ 8QG MHGHU DQGHUH ZlUH EHVVHU DOV GX ZHLO GX VLH YLHOOHLFKW JHUDGH]X XPEULQJHQ ZLUVW XQG VLH GDV VFKRQ MHW]W ZRKO QXU ]X JXW ZHL 2GHU ZHLO GX VLH VR KHIWLJ OLHEVW" :LUNOLFK GDV N|QQWH GHU *UXQG VHLQ ,FK KDEH PLU VDJHQ ODVVHQ GD HV )UDXHQ JLEW GLH JHUDGH VR JHOLHEW ]X ZHUGHQ ZQVFKHQDEHU©
'HU )UVW EUDFK DE XQG YHUVDQN LQ 1DFKGHQNHQ ª:DUXP KDVW GX ZLHGHU EHU GDV 3RUWUlW PHLQHV 9DWHUV JHOlFKHOW"© IUDJWH 5RJRVKLQ GHU MHGH 9HUlQGHUXQJ LQ GHP *HVLFKW GHV )UVWHQ MHGH GDUEHU KLQKXVFKHQGH 5HJXQJ PLW GHU JU|WHQ $XIPHUNVDPNHLWEHREDFKWHWH ª:DUXPLFKJHOlFKHOWKDEH"(V NDP PLU GHU *HGDQNH ZHQQ GLU GLHVHV 8QJOFN QLFKW ]XJHVWRHQ XQG GLHVH /LHEH QLFKW EHU GLFK JHNRPPHQ ZlUH GDQQ ZUGHVW GX YLHOOHLFKW JHQDXVR ZHUGHQ ZLH GHLQ 9DWHU XQG]ZDULQVHKUNXU]HU=HLW'X ZUGHVWDOOHLQXQGZRUWNDUJ LQ GLHVHP +DXV VLW]HQ PLW HLQHU JHKRUVDPHQ VFKZHLJVDPHQ )UDX ZUGHVW QXU VHOWHQ XQG LQ VWUHQJHP 7RQ UHGHQ NHLQHP 0HQVFKHQ WUDXHQ GHQ IUHXQGVFKDIWOLFKHQ 9HUNHKU PLW 0HQVFKHQ DXFK JDU QLFKW YHUPLVVHQ XQG QXU VFKZHLJHQG XQG PLWILQVWHUHU0LHQH*HOG]XVDPPHQKlXIHQ+|FKVWHQVZUGHVW GXJHOHJHQWOLFKGLH%FKHUGHU$OWJOlXELJHQOREHQXQGGLFKIU GDV%HNUHX]LJHQPLW]ZHL)LQJHUQLQWHUHVVLHUHQXQGDXFKGDV YLHOOHLFKW HUVW ZHQQ GX DOW JHZRUGHQ ZlUHVW © ª6SRWWH QXU *DQ] JHQDX GDVVHOEH KDW VLH QHXOLFK JHVDJW DOV VLH HEHQIDOOV GLHVHV 3RUWUlW EHWUDFKWHWH (V LVW HUVWDXQOLFK ZLH LKU LQ DOOHQ 'LQJHQHLQXQGGHUVHOEHQ$QVLFKWVHLG©ª,VWVLHGHQQVFKRQ EHLGLUJHZHVHQ"©IUDJWHGHU)UVWOHEKDIWLQWHUHVVLHUWª-D6LH EHWUDFKWHWHGDV3RUWUlWODQJHXQGVWHOOWHYLHOH)UDJHQEHUGHQ 9HUVWRUEHQHQ ¾'X ZUGHVW JDQ] JHQDX VR VHLQ½ VDJWH VLH HQGOLFK OlFKHOQG ]X PLU ¾'X KDVW VWDUNH /HLGHQVFKDIWHQ 3DUIHQ 6HPMRQ\WVFK VR VWDUNH /HLGHQVFKDIWHQ GD GX GXUFK VLH RKQH ZHLWHUHV QDFK 6LELULHQ ]XU =ZDQJVDUEHLW NRPPHQ ZUGHVWZHQQGXQLFKW DXFK9HUVWDQGEHVlHVW GHQQ GX KDVW HLQHQJXWHQ9HUVWDQG½VDJWHVLHVRGUFNWHVLHVLFKDXVREGX HVQXQJODXEVWRGHUQLFKWHVZDUGDVHUVWHPDOGDLFKYRQLKU HLQH VROFKH bXHUXQJ K|UWH ¾$OO GLHVH MHW]LJHQ 7ROOKHLWHQ ZUGHVW GX VHKU EDOG EHLVHLWH ZHUIHQ 8QG GD GX HLQ 0HQVFK RKQH DOOH %LOGXQJ ELVW VR ZUGHVW GX DQIDQJHQ *HOG ]XVDPPHQ]XVFKDUUHQ XQG ZUGHVW ZLH GHLQ 9DWHU PLW GHLQHQ 6NRS]HQ LQ GHLQHP +DXV VLW]HQ P|JOLFKHUZHLVH ZUGHVW GX
]XOHW]WDXFKVHOEVW]XLKUHP*ODXEHQEHUWUHWHQXQGGHLQ*HOG ZUGHVW GX VR OLHEJHZLQQHQ GD GX QLFKW ]ZHL 0LOOLRQHQ VRQGHUQ YLHOOHLFKW ]HKQ 0LOOLRQHQ ]XVDPPHQEULQJHQ XQG DXI GHLQHQ *HOGVlFNHQ +XQJHUV VWHUEHQ ZUGHVW GHQQ GX ELVW LQ DOOHQ 'LQJHQ OHLGHQVFKDIWOLFK DOOHV WUHLEVW GX ELV ]XU /HLGHQVFKDIW½*HQDXVRUHGHWHVLHIDVWJHQDXPLWGLHVHQVHOEHQ :RUWHQ6LHKDWWHQRFKQLHYRUKHUVRPLWPLUJHUHGHW6LHUHGHW MD VRQVW LPPHU PLW PLU QXU YRQ W|ULFKWHQ 'LQJHQ RGHU PDFKW VLFK EHU PLFK OXVWLJ XQG DXFK GDPDOV KDWWH VLH ODFKHQG DQJHIDQJHQ DEHU GDQQ ZDU VLH JDQ] HUQVW XQG GVWHU JHZRUGHQVLHJLQJGXUFKGLHVHVJDQ]H+DXVXQGEHVDKHVXQG VFKLHQHLQH$UW6FKUHFNGDUEHU]XEHNRPPHQ¾,FKZHUGHGDV DOOHV XPlQGHUQ XQG DQGHUV HLQULFKWHQ½ VDJWH LFK ¾RGHU LFK NDXIH DXFK YLHOOHLFKW ]XU +RFK]HLW HLQ DQGHUHV +DXV½ ±1HLQ QHLQ½ VDJWH VLH ¾KLHU VROO QLFKWV XPJHlQGHUW ZHUGHQ ZLU ZROOHQKLHUZRKQHQXQGDOOHVVRODVVHQ,FKP|FKWHEHLGHLQHU 0XWWHU ZRKQHQ½ VDJWH VLH ¾ZHQQ LFK GHLQH )UDX ELQ½ ,FK IKUWH VLH ]X PHLQHU 0XWWHU VLH EHQDKP VLFK JHJHQ GLHVH HKUHUELHWLJ ZLH HLQH OHLEOLFKH 7RFKWHU 'LH 0XWWHU VLW]W VFKRQ VHLW OlQJHUHU =HLW VFKRQ ]ZHL -DKUH GD DOV RE VLH QLFKW EHL YROOHP 9HUVWDQG ZlUH VLH LVW NUDQN XQG QDFK GHP 7RG GHV 9DWHUV LVW VLH JDQ] ZLH HLQ NOHLQHV .LQG JHZRUGHQ XQG IJW VLFK LQ DOOHV VLH VLW]W RKQH DXI]XVWHKHQ GD XQG YHUQHLJW VLFK QXUYRUMHGHPGHQVLHVLHKWYRQLKUHP3ODW]HDXVLFKJODXEH ZHQQPDQVLHQLFKWIWWHUWHZUGHVLHHVGUHL7DJHODQJQLFKW PHUNHQ ,FK QDKP GLH UHFKWH +DQG GHU 0XWWHU OHJWH LKU GLH )LQJHU]XUHFKWXQGVDJWH¾6HJQHQ6LHVLH0WWHUFKHQVLHZLUG VLFK PLW PLU WUDXHQ ODVVHQ½ 'D NWH VLH PHLQHU 0XWWHU PLW KHU]OLFKHU (PSILQGXQJ GLH +DQG ¾'HLQH 0XWWHU½ VDJWH VLH ¾KDW JHZL YLHO /HLG ]X HUWUDJHQ JHKDEW½ $OV VLH GLHVHV %XFK KLHULQPHLQHP=LPPHUVDKZXQGHUWHVLHVLFKXQGVDJWH¾:DV WUHLEVWGXGHQQKLHU"'XOLHVWUXVVLVFKH*HVFKLFKWH"6LHKDWWH DEHUHLQPDOLQ0RVNDXVHOEVW]XPLUJHVDJW¾'XVROOWHVWGRFK HLQELFKHQIUGHLQH %LOGXQJ WXQ XQG ZHQLJVWHQV 6RORZMRZV
5XVVLVFKH*HVFKLFKWHOHVHQGXZHLWMDUHLQJDUQLFKWV½ ¾'DV LVWUHFKWYRQGLU½VDJWHVLH¾OLHVGDVQXUZHLWHU,FKZHUGHGLU VHOEVW HLQ 9HU]HLFKQLV GHU %FKHU DXIVWHOOHQ GLH GX LQ HUVWHU /LQLH OHVHQ PXW LVW HV GLU UHFKW"½ 1LHPDOV QLHPDOV YRUKHU KDWWH VLH VR ]X PLU JHVSURFKHQ VR GD LFK JDQ] HUVWDXQW ZDU ]XP HUVWHQPDO NRQQWH LFK ZLHGHU IUHL DXIDWPHQ© ª,FK IUHXH PLFK GDUEHU VHKU 3DUIHQ© HUZLGHUWH GHU )UVW PLW ZDUPHP *HIKOªVHKUIUHXHLFKPLFK:HUZHLYLHOOHLFKWEULQJWHXFK *RWW GRFK QRFK ]XHLQDQGHU© ª'DV ZLUG QLH JHVFKHKHQ© ULHI 5RJRVKLQKHIWLJª+|UH3DUIHQZHQQGXVLHVROLHEVWP|FKWHVW GX GDQQ QLFKW LKUH $FKWXQJ YHUGLHQHQ" 8QG ZHQQ GX GDV P|FKWHVW KRIIVW GX GDQQ QLFKW GD HV GLU JHOLQJHQ ZLUG" ,FK KDEH YRUKLQ JHVDJW GD HV PLU HLQ ZXQGHUEDUHV 5lWVHO LVW ZDUXP VLH GLFK KHLUDWHQ ZLOO $EHU REZRKO LFK GLHV 5lWVHO QLFKW O|VHQ NDQQ VR ]ZHLIOH LFK GRFK QLFKW GDUDQ GD MHGHQIDOOVHLQ]XUHLFKHQGHUYHUQQIWLJHU*UXQGYRUKDQGHQVHLQ PX 9RQ GHLQHU /LHEH LVW VLH EHU]HXJW DEHU ZDKUVFKHLQOLFK LVW VLH DXFK GDYRQ EHU]HXJW GD GX PDQFKHUOHL JXWH (LJHQVFKDIWHQ EHVLW]W (V NDQQ MD QLFKW DQGHUV VHLQ 'DV ZDV GXVRHEHQJHVDJWKDVWEHVWlWLJWHV'XVDJVWVHOEVWGDVLHHV P|JOLFK JHIXQGHQ KDW PLW GLU LQ HLQHP JDQ] DQGHUQ 7RQ ]X VSUHFKHQ DOV GHP LQ GHP VLH IUKHU PLW GLU YHUNHKUW XQG JHUHGHW KDW 'X ELVW PLWUDXLVFK XQG HLIHUVFKWLJ GDKHU EHUWUHLEVW GX DOOHV ZDV GX 6FKOHFKWHV EHPHUNVW 6LH GHQNW GRFK RIIHQEDU QLFKW VR VFKOHFKW YRQ GLU ZLH GX DQQLPPVW 6RQVWOLHIHMDZHQQVLHGLFKKHLUDWHWHGLHVDXIGDVVHOEHKLQDXV ZLH ZHQQ VLH PLW %HZXWVHLQ LQV :DVVHU JLQJH RGHU VLFK DQV 0HVVHU OLHIHUWH ,VW GHQQ GDV P|JOLFK" :HU WXW GHQQ GDV PLW %HZXWVHLQ"© 0LW ELWWHUHP /lFKHOQ K|UWH 3DUIHQ GLH ZDUPHQ :RUWH GHV )UVWHQDQ6HLQHhEHU]HXJXQJVFKLHQEHUHLWVXQHUVFKWWHUOLFK IHVW]XVWHKHQ ª0LWZDVIUVFKUHFNOLFKHQ$XJHQGXPLFKMHW]W DQVLHKVW 3DUIHQ© ULHI GHU )UVW HUVFKURFNHQ ª,QV :DVVHU JHKHQ RGHU VLFK DQV 0HVVHU OLHIHUQ© VDJWH GLHVHU HQGOLFK
ª+HKH (EHQ GHVKDOE KHLUDWHW VLH PLFK MD ZHLO VLH DOV PHLQH )UDXEHVWLPPWPLWGHP0HVVHUUHFKQHW+DVWGXGHQQZLUNOLFK QRFK QLFKW EHJULIIHQ )UVW ZDV KLHU YRUOLHJW"© ª,FK YHUVWHKH GLFK QLFKW© ª1XQ YLHOOHLFKW YHUVWHKVW GX HV ZLUNOLFK QLFKW KHKH0DQVDJWMDYRQGLUGXZlUHVWQLFKWVRJDQ]KP6LH OLHEW HLQHQ DQGHUQ EHJUHLI GDV GRFK *HUDGHVR ZLH LFK VLH MHW]W OLHEH JHUDGHVR OLHEW VLH MHW]W HLQHQ DQGHUQ 8QG GLHVHU DQGHUH ZHLW GX ZHU GDV LVW" 'DV ELVW GX" 1D GDV KDVW GX QLFKWJHZXWQLFKWZDKU"©ª,FK"©ª-DGX6LHKDWVLFKJOHLFK GDPDOV DQ LKUHP *HEXUWVWDJ LQ GLFK YHUOLHEW $EHU VLH GHQNW VLHN|QQHGLFKQLFKWKHLUDWHQZHLOVLHGLU6FKDQGHPDFKHQXQG GLUGHLQJDQ]HV /HEHQ YHUGHUEHQ ZUGH ¾0DQ ZHL MD½ VDJWH VLH¾ZDVLFKIUHLQHELQ½8QGEHLGLHVHU$XIIDVVXQJLVWVLHELV ]X GLHVHP $XJHQEOLFN JHEOLHEHQ 'DV KDW VLH PLU DOOHV JDQ] RIIHQLQV*HVLFKWJHVDJW6LHIUFKWHWGLFK]XHQWHKUHQXQGLQV 9HUGHUEHQ]XEULQJHQDEHUEHLPLUNRPPWVRHWZDVQDWUOLFK QLFKWLQ%HWUDFKWPLFKNDQQVLHKHLUDWHQ'DVLHKWPDQZLHVLH PLFKDFKWHWGDVLVW DXFK EHPHUNHQVZHUW© ª$EHU ZLH JHKW HV ]X GD VLH YRQ GLU ]X PLU JHIOFKWHW LVW XQG YRQ PLU © ª8QG YRQ GLU ]X PLU +HKH :DV KDW VLH QLFKW DOOHV IU (LQIDOOH6LHLVWMHW]WJDQ]ZLHLP)LHEHU6LHVFKUHLWPLFKDQ ¾,FK KHLUDWH GLFK JHUDGH ZLH ZHQQ LFK LQV :DVVHU JHKH 1XU UHFKWVFKQHOO+RFK]HLW½6LHWUHLEWVHOEVW]XU(LOHEHVWLPPWGHQ 7DJ XQG ZHQQ GLH =HLW KHUDQUFNW HUVFKULFNW VLH RGHU HV NRPPHQ LKU DQGHUH *HGDQNHQ *RWW ZHL ZLH¶V ]XVDPPHQKlQJW DEHU GX KDVW HV MD VHOEVW JHVHKHQ VLH ZHLQW XQG ODFKW XQG ZLUG ZLH YRP )LHEHU JHVFKWWHOW 8QG ZDV LVW GDEHL:XQGHUEDUHVGDVLHDXFKYRQGLUZHJJHODXIHQLVW"6LH LVW GDPDOV YRQ GLU ZHJJHODXIHQ ZHLO HV LKU VHOEVW ]XP %HZXWVHLQ NDP ZLH VWDUN VLH GLFK OLHEW %HL GLU ]X EOHLEHQ GDV JLQJ EHU LKUH .UDIW 'X KDVW YRUKLQ JHVDJW LFK KlWWH VLH GDPDOV LQ 0RVNDX ZLHGHU DXVILQGLJ JHPDFKW GDV LVW QLFKW ULFKWLJVLHNDPDXVHLJHQHP$QWULHEYRQGLU]XPLUJHODXIHQ ¾%HVWLPP HLQHQ 7DJ½ VDJWH VLH ¾LFK ELQ EHUHLW /D
&KDPSDJQHU EULQJHQ :LU ZROOHQ ]X GHQ =LJHXQHULQQHQ IDKUHQ½ VFKULH VLH 8QG ZHQQ LFK QLFKW JHZHVHQ ZlUH VR KlWWH VLH VLFK VFKRQ OlQJVW LQV :DVVHU JHVWU]W GDV NDQQ LFK EHVWLPPWVDJHQ6LHVWU]WVLFKQXUGHVZHJHQQLFKWKLQHLQZHLO LFK LKU YLHOOHLFKW QRFK VFKUHFNOLFKHU ELQ DOV GDV :DVVHU $XV SXUHP *ULPP ZLUG VLH PLFK KHLUDWHQ :HQQ VLH PLFK KHLUDWHWVRNDQQLFKPLWDOOHU6LFKHUKHLWVDJHQGDVLHHV DXV *ULPPWXW©ª$EHUZLHNDQQVWGXQXUZLHNDQQVWGXQXU© ULHIGHU)UVWRKQHGHQ6DW]]XEHHQGHQ(UEOLFNWH5RJRVKLQ HUVFKURFNHQ DQ ª:DUXP VSULFKVW GX QLFKW ]X (QGH"© IUDJWH GLHVHUOlFKHOQGª$EHUZHQQGXZLOOVWVRZHUGHLFKGLUVDJHQ ZDVGXLQGLHVHP$XJHQEOLFNLPVWLOOHQGHQNVW¾:LHNDQQVLH XQWHU VROFKHQ 8PVWlQGHQ VHLQH )UDX ZHUGHQ" :LH NDQQ PDQ GDV]XODVVHQ"½ ,FKZHLGDGXGDVGHQNVW© ª,FKELQQLFKW GHVZHJHQ KHUJHUHLVW 3DUIHQ LFK VDJH GLU VR HWZDV LVW PLU QLFKW LQ GHQ 6LQQ JHNRPPHQ © ª(V LVW MD P|JOLFK GD GX QLFKW GHVZHJHQ KHUJHUHLVW ELVW XQG GD GLU VR HWZDV QLFKW LQ GHQ 6LQQ JHNRPPHQ ZDU DEHU QXQ ZLUG VLFK GHU =ZHFN QDFKWUlJOLFK HUJHEHQ KHEH 1XQ JHQXJ :DUXP ELVW GX VR EHVWU]W"6ROOWHVWGXZLUNOLFKQLFKWVGDYRQJHZXWKDEHQ"'X VHW]W PLFK LQ (UVWDXQHQ© ª'DV LVW EHL GLU QXU (LIHUVXFKW 3DUIHQGDVLVWHLQH.UDQNKHLWGXEHUWUHLEVWGDV DOOHVPDORV © PXUPHOWH GHU )UVW LQ JU|WHU (UUHJXQJ ª:DV KDVW GX GHQQ"© ª/D GDV OLHJHQ© VDJWH 3DUIHQ XQG UL GHP )UVWHQ KDVWLJ HLQ 0HVVHU DXV GHU +DQG GDV GLHVHU YRP 7LVFKH DXIQDKP ZR HV QHEHQ GHP %XFK JHOHJHQ KDWWH XQG WDW HV ZLHGHUDXIVHLQHQIUKHUHQ3ODW] ª0LULVWDOVKlWWHLFKHVEHL GHU $QNXQIW LQ 3HWHUVEXUJ JHZXW DOV KlWWH LFK HLQH 9RUDKQXQJ JHKDEW © IXKU GHU )UVW IRUW ª,FK ZROOWH QLFKW KHUIDKUHQ,FKZROOWHGLHVHJDQ]H6DFKHYHUJHVVHQXQGPLUDXV GHP+HU]HQUHLHQ1XQOHEZRKO$EHUZDVKDVWGXGHQQ"© :lKUHQG GHV 6SUHFKHQV KDWWH GHU )UVW LQ GHU =HUVWUHXWKHLW GDVVHOEH0HVVHUZLHGHUYRP7LVFKJHQRPPHQXQGQXQQDKP 5RJRVKLQ HV LKP ]XP ]ZHLWHQPDO DXV GHU +DQG XQG ZDUI HV
DXIGHQ7LVFK(V ZDU HLQ0HVVHUYRQ JDQ]HLQIDFKHU*HVWDOW PLWHLQHP*ULIIDXV+LUVFKKRUQQLFKW]XP=XVDPPHQNODSSHQ PLWHLQHUHWZDGUHLHLQKDOE:HUVFKRN ODQJHQXQGHQWVSUHFKHQG EUHLWHQ.OLQJH $OV5RJRVKLQVDKGDGHU)UVWVWXW]LJGDUEHUZXUGHZHLO LKP GLHVHV 0HVVHU ]ZHLPDO DXV GHU +DQG JHULVVHQ ZDUG HUJULII HU HV JULPPLJ XQG lUJHUOLFK OHJWH HV LQ GDV %XFK XQG VFKOHXGHUWHGDV%XFKDXIHLQHQDQGHUHQ7LVFKª'XVFKQHLGHVW GDPLWZRKOGLH6HLWHQDXI"©IUDJWHGHU)UVWDEHU]HUVWUHXWDOV VHLHULPPHUQRFKLQ*HGDQNHQYHUVXQNHQ ª-D IUHLOLFK© ª(V LVW MD HLQ *DUWHQPHVVHU© ª-D .DQQ PDQ GHQQ GLH 6HLWHQ QLFKW DXFK PLW HLQHP *DUWHQPHVVHU DXIVFKQHLGHQ"©ª$EHUHVHVLVWJDQ]QHX©ª1DZDVLVWGHQQ GDEHLGDHVQHXLVW"'DUILFKPLUHWZDQLFKWHLQQHXHV0HVVHU NDXIHQVREDOGLFKZLOO"©VFKULH5RJRVKLQHQGOLFKLQHLQHU$UW 5DVHUHLVHLQH*HUHL]WKHLWZDUPLWMHGHP:RUWlUJHUJHZRUGHQ 'HU)UVW]XFNWH]XVDPPHQXQGEOLFNWHLKQDXIPHUNVDPDQ ª$EHU ZLU VLQG DXFK GLH 5LFKWLJHQ© VDJWH HU ODFKHQG HU ZDU QXQ ZLHGHU Y|OOLJ ]XU %HVLQQXQJ JHNRPPHQ ª6HL PLU QLFKW E|VH%UXGHUZHQQPLUGHU.RSI VR VFKZHU LVW ZLH MHW]W XQG GD]X QRFK GLHVH .UDQNKHLW LFK ZHUGH GDQQ JDQ] ]HUVWUHXW XQGNRPLVFK ,FKZROOWH EHUKDXSW QLFKW GDQDFK IUDJHQ LFK ZHL VFKRQ QLFKW PHKU XP ZDV HV VLFK KDQGHOWH /HE ZRKO© ª1LFKWGRUW©VDJWH5RJRVKLQ ª,FKKDEHYHUJHVVHQGXUFKZHOFKH7ULFKKHUHLQJHNRPPHQ ELQ©ª+LHUKLHUNRPPLFKZHUGHGLUGHQ:HJ]HLJHQ©
:HUVFKRN FP
,9 6LH JLQJHQ GXUFK GLHVHOEHQ =LPPHU GLH GHU )UVW VFKRQ YRUKHU SDVVLHUW KDWWH 5RJRVKLQ JLQJ HLQ ZHQLJ YRUDXV GHU )UVW KLQWHU LKP KHU 6LH NDPHQ LQ GHQ JURHQ 6DORQ +LHU EHIDQGHQVLFKDQGHQ:lQGHQHLQLJH*HPlOGHODXWHU3RUWUlWV YRQ %LVFK|IHQ XQG /DQGVFKDIWHQ YRQ GHQHQ QLFKWV ]X HUNHQQHQ ZDU hEHU GHU 7U QDFK GHP QlFKVWHQ =LPPHU KLQJ HLQ %LOG YRQ UHFKW DXIIlOOLJHP )RUPDW =ZHLHLQKDOE $UVFKLQ ODQJ XQG QLFKW PHKU DOV VHFKV :HUVFKRN KRFK (V VWHOOWH GHQ VRHEHQ YRP .UHX]H DEJHQRPPHQHQ +HLODQG GDU 'HU )UVW EOLFNWH HV IOFKWLJ DQ DOV NlPH LKP HLQH (ULQQHUXQJ ZROOWH DEHU RKQH VWHKHQ]XEOHLEHQ GXUFK GLH 7U KLQGXUFKJHKHQ (U IKOWH VLFK VHKU EHGUFNW XQG HV YHUODQJWH LKQ P|JOLFKVW VFKQHOO DXV GLHVHP +DXV KHUDXV]XNRPPHQ $EHU 5RJRVKLQ EOLHE SO|W]OLFK YRU GHP %LOG VWHKHQ ª$OO GLHVH %LOGHU KLHU© VDJWHHUªKDWPHLQYHUVWRUEHQHU9DWHUDXI$XNWLRQHQJHNDXIW GDV 6WFN ]X HLQHP RGHU ]ZHL 5XEHO HU OLHEWH VR HWZDV (LQ 6DFKYHUVWlQGLJHU KDW VLH DOOH KLHU EHVLFKWLJW HU VDJWH HV VHL 6FKXQGDEHUGLHVHVKLHUGDV %LOGEHUGHU7UGDVHEHQIDOOV IU ]ZHL 5XEHO JHNDXIW LVW YRQ GHP VDJWH HU HV VHL NHLQ 6FKXQG 1RFK ]X /HE]HLWHQ PHLQHV 9DWHUV IDQG VLFK MHPDQG GHU LKP GDIU GUHLKXQGHUWXQGIQI]LJ 5XEHO ERW XQG ,ZDQ 'PLWULMHZLWVFK 6DZHOMHZ HLQ .DXIPDQQ GHU HLQ JURHU /LHEKDEHU VROFKHU 'LQJH LVW GHU LVW ELV DXI YLHUKXQGHUW KLQDXIJHJDQJHQXQGKDWLQGHUYRULJHQ:RFKHPHLQHP%UXGHU 6HPMRQ 6HPMRQ\WVFK VFKRQ IQIKXQGHUW JHERWHQ $EHU LFK KDEHHVIUPLFKEHKDOWHQ©ª'DVLVWMDGDVLVWMDHLQH.RSLH QDFK+DQV+ROEHLQ©VDJWHGHU)UVWGHUQXQ=HLWJHKDEWKDWWH GDV %LOG JHQDXHU ]X EHWUDFKWHQ ªXQG REZRKO LFK NHLQ JURHU .HQQHU ELQ VFKHLQW HV PLU GRFK HLQH YRU]JOLFKH .RSLH ]X VHLQ ,FK KDEH GLHVHV %LOG LP $XVODQG JHVHKHQ XQG NDQQ HV
$UVFKLQ FP
QLFKWYHUJHVVHQ$EHUªZDVKDVWGXGHQQ"© 5RJRVKLQ NPPHUWH VLFK DXI HLQPDO QLFKW ZHLWHU XP GDV %LOG VRQGHUQ JLQJ DXI GHP ELVKHULJHQ :HJH ZHLWHU $OOHUGLQJV OLH VLFK GLHVHV VSUXQJKDIWH :HVHQ GXUFK VHLQH =HUVWUHXWKHLW XQG GXUFK GLH EHVRQGHUH VHOWVDP UHL]EDUH 6WLPPXQJ GLH EHL LKP VR SO|W]OLFK KHUYRUJHWUHWHQ ZDU YLHOOHLFKW HUNOlUHQ DEHU WURW]GHP HUVFKLHQ HV GHP )UVWHQ ZXQGHUOLFK GD 5RJRVKLQ HLQ YRQ LKP VHOEVW EHJRQQHQHV *HVSUlFK VR SO|W]OLFK DEEUDFK XQG LKP QLFKW HLQPDO DQWZRUWHWH ª+|U PDO /HZ 1LNRODMHZLWVFK© ILQJ 5RJRVKLQ ZLHGHU DQ QDFKGHP HU HLQLJH 6FKULWWH JHPDFKW KDWWH ªLFK ZROOWH GLFK VFKRQ OlQJVW IUDJHQ JODXEVW GX DQ *RWW RGHU QLFKW"© ª:LH VRQGHUEDUGXIUDJVWXQGZDVGXIUHLQVRQGHUEDUHV*HVLFKW PDFKVW© lXHUWH GHU )UVW XQZLOONUOLFK ª'LHVHV %LOG EHWUDFKWH LFK LPPHU JHUQ© PXUPHOWH 5RJRVKLQ QDFK NXU]HP 6WLOOVFKZHLJHQ DOV KlWWH HU VHLQH )UDJH ZLHGHU YHUJHVVHQ ª'LHVHV %LOG EHWUDFKWHVW GX JHUQ"© ULHI GHU )UVW YRQ HLQHP SO|W]OLFKHQ *HGDQNHQ EHUUDVFKW ª'LHVHV %LOG" $EHU EHLP $QEOLFN GLHVHV %LOGHV NDQQ MD PDQFKHU 0HQVFK VHLQHQ *ODXEHQ YHUOLHUHQ© ª,FK YHUOLHUH LKQ DXFK© ZDU 5RJRVKLQV EHUUDVFKHQGHEHVWlWLJHQGH$QWZRUW 6LHZDUHQEHUHLWV]XU$XVJDQJVWUJHODQJWª:LH"©VDJWHGHU )UVWVWHKHQEOHLEHQG ª:DVUHGHVWGXGD" ,FKKDEH HLJHQWOLFK QXU LP 6FKHU] JHVSURFKHQ XQG GX VDJVW GDV VR HUQVW 8QG ZDUXP KDVW GX PLFK JHIUDJW RE LFK DQ *RWW JODXEH"© ª(LQHQ EHVRQGHUHQ *UXQG KDWWH LFK QLFKW GD]X ,FK ZROOWH GLFK VFKRQ IUKHUGDQDFKIUDJHQ+HXW]XWDJHJODXEHQMDYLHOHQLFKWDQLKQ 2E GDV ZRKO ZDKU LVW GX KDVW MD LP $XVODQG JHOHEW PLU KDW HLQPDOVRHLQ7UXQNHQEROGJHVDJWEHLXQVLQ5XODQGJHEHHV PHKU /HXWH GLH QLFKW DQ *RWW JODXEHQ DOV LQ DOOHQ DQGHUQ /DQGHUQ"¾8QV½VDJWHHU¾ZLUGHVOHLFKWHU]XP8QJODXEHQ]X JHODQJHQDOVLKQHQZHLOZLUZHLWHUIRUWJHVFKULWWHQVLQG½© 5RJRVKLQ OlFKHOWH VS|WWLVFK DOV HU VHLQH )UDJH
DXVJHVSURFKHQ KDWWH |IIQHWH HU GLH 7U XQG ZDUWHWH PLW GHU .OLQNHLQGHU+DQGGDUDXIGDGHU)UVWKLQDXVJLQJ'HU)UVW ZXQGHUWH VLFK WUDW DEHU KLQDXV 'HU DQGHUH IROJWH LKP LQ GHQ 7UHSSHQIOXU XQG PDFKWH GLH 7U KLQWHU VLFK ]X 6LH VWDQGHQ HLQDQGHUPLWVROFKHQ*HVLFKWHUQJHJHQEHUGDHVVFKLHQDOV KlWWHQ VLH EHLGH YHUJHVVHQ ZR VLH ZDUHQ XQG ZDV VLH QXQ ]X WXQKDWWHQ ª/HEZRKO© VDJWHGHU )UVWXQG UHLFKWH 5RJRVKLQ GLH+DQGª/HEZRKO©HUZLGHUWHGLHVHUXQGGUFNWHIHVWDEHU JDQ]PHFKDQLVFKGLHLKPKLQJHVWUHFNWH+DQG 'HU )UVW VWLHJ HLQH 6WXIH KLQDE XQG GUHKWH VLFK XP ª:DV DEHU GHQ *ODXEHQ EHWULIIW© EHJDQQ HU OlFKHOQG HU ZROOWH RIIHQEDU 5RJRVKLQ QLFKW YHUODVVHQ RKQH LKP JHDQWZRUWHW ]X KDEHQ DXFK EHOHEWH LKQ HLQH SO|W]OLFK DXIWDXFKHQGH (ULQQHUXQJ ªZDV GHQ *ODXEHQ EHWULIIW VR KDWWH LFK LQ GHU YRULJHQ :RFKH DQ ]ZHL 7DJHQ YLHU YHUVFKLHGHQH (UOHEQLVVH $QHLQHP9RUPLWWDJIXKULFKDXIHLQHUQHXHQ(LVHQEDKQVWUHFNH XQG XQWHUKLHOW PLFK LP =XJ YLHU 6WXQGHQ ODQJ PLW HLQHP JHZLVVHQ 6 GHQ LFK DXI GHU )DKUW NHQQHQJHOHUQW KDWWH ,FK KDWWHVFKRQIUKHUYLHOYRQLKPJHK|UWXQWHUDQGHUPDXFKGD HU $WKHLVW VHL (U LVW WDWVlFKOLFK HLQ VHKU JHOHKUWHU 0DQQ XQG LFKIUHXWHPLFKGDLFKPLWHLQHPZLUNOLFKHQ*HOHKUWHQUHGHQ GXUIWH $XHUGHP LVW HU HLQ DXHURUGHQWOLFK ZRKOHU]RJHQHU 0HQVFKXQGUHGHWHLQIROJHGHVVHQPLWPLUJDQ] ZLH ZHQQ LFK LKP DQ .HQQWQLVVHQ XQG %HJULIIVYHUP|JHQ JOHLFKNlPH $Q *RWWJODXEWHUQLFKW1XUHLQHVILHOPLUDXIGDHUEHUGLHVHQ 3XQNWGLHJDQ]H=HLWJDUQLFKWVSUDFKXQGGDVILHOPLUJHUDGH GHVZHJHQ DXI ZHLO HV PLU DXFK IUKHU VRRIW LFK PLW 8QJOlXELJHQ ]XVDPPHQJHWURIIHQ ZDU XQG VRRIW LFK GHUDUWLJH %FKHU JHOHVHQKDWWHLPPHUVRYRUJHNRPPHQZDUDOVREVLH EHU GLHVHQ 3XQNW EHUKDXSW ZHGHU UHGHWHQ QRFK LQ LKUHQ %FKHUQ VFKULHEHQ REJOHLFK HV DXI GHQ HUVWHQ %OLFN VFKHLQHQ NRQQWH GD HV HEHQ GDUXP JLQJ 'DV VDJWH LFK LKP JOHLFK GDPDOV DEHU MHGHQIDOOV QLFKW GHXWOLFK RGHU LFK ZXWH PLFK QLFKWDXV]XGUFNHQGHQQHUYHUVWDQGPLFKQLFKW$P$EHQG
NHKUWHLFKLQHLQHU.UHLVVWDGWLQHLQHP*DVWKDXVHLQXPGD]X EHUQDFKWHQ XQG LQ GLHVHP *DVWKDXV ZDU NXU] YRUKHU LQ GHU YRUKHUJHKHQGHQ1DFKWHLQ0RUGJHVFKHKHQVRGDEHLPHLQHU $QNXQIWDOOHQRFKGDYRQVSUDFKHQ=ZHL%DXHUQlOWHUH/HXWH QLFKW EHWUXQNHQ VFKRQ ODQJH PLWHLQDQGHU EHNDQQW XQG EHIUHXQGHW KDWWHQ 7HH JHWUXQNHQ XQG ZROOWHQ VLFK ]XVDPPHQ LQLKUHPJHPHLQVDPHQ.l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¾2*RWWYHU]HLKPLUXP &KULVWL ZLOOHQ½ VFKQLWW HU VHLQHP )UHXQG PLW HLQHP HLQ]LJHQ 6FKQLWWZLHHLQHP+DPPHOGLH.HKOHGXUFKXQGQDKPLKPGLH 8KUZHJ© 5RJRVKLQVFKWWHOWHVLFKYRU/DFKHQ(UODFKWHVRKHIWLJDOV KlWWH HU HLQHQ $QIDOO EHNRPPHQ (V PDFKWH HLQHQ JDQ] VHOWVDPHQ(LQGUXFNGLHVHV/DFKHQ]XVHKHQQDFKGHPHUVLFK QRFK NXU] YRUKHU LQ VR GVWHUHU 6WLPPXQJ EHIXQGHQ KDWWH ª'DV JHIlOOW PLU 1HLQ GDV LVW MD JDQ] YRU]JOLFK© VFKULH HU NUDPSIKDIW XQG IDVW DXHU $WHP ª'HU HLQH JODXEW EHUKDXSW QLFKW DQ *RWW XQG GHU DQGHUH JODXEW VR VHKU DQ LKQ GD HU VRJDU EHL GHU (UPRUGXQJ HLQHV 0HQVFKHQ EHWHW 1HLQ %UXGHUGDVLVWMDJDUQLFKWDXV]XGHQNHQ+DKDKD1HLQGDVLVW N|VWOLFK© ª$P DQGHUQ 0RUJHQ VFKOHQGHUWH LFK GXUFK GLH 6WDGW©IXKUGHU)UVWIRUWVREDOG5RJRVKLQVLFKHLQLJHUPDHQ EHUXKLJWKDWWHREZRKOGDV/DFKHQLPPHUQRFKQDFK$UWHLQHV .UDPSIDQIDOOHVDXIVHLQHQ/LSSHQ]XFNWHªGDVDKLFKZLHHLQ
EHWUXQNHQHU6ROGDWLQJDQ]ZVWHP=XVWDQGDXIGHPK|O]HUQHQ *HKVWHLJ XPKHUVFKZDQNWH (U NDP DXI PLFK ]X XQG VDJWH ¾+HUU NDXI PLU GLHVHV VLOEHUQH .UHX] DE LFK ODVVH HV GLU IU ]ZDQ]LJ .RSHNHQ HV LVW YRQ 6LOEHU½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|VIUVHLQ.UHX]]XYHUWULQNHQ$XIPLFK %UXGHUPDFKWH GDPDOVDOOGDVZDVLQ5XODQGPDVVHQKDIWDXIPLFKHLQGUDQJ HLQHQ VHKU VWDUNHQ (LQGUXFN LFK KDWWH LQ PHLQHP +HLPDWODQG YRUKHU IU QLFKWV 9HUVWlQGQLV JHKDEW ZDU ZLH HLQ %OLQGHU DXIJHZDFKVHQ XQG PHLQH (ULQQHUXQJHQ DQ 5XODQG ZlKUHQG GHU IQI -DKUH PHLQHV $XIHQWKDOWHV LP $XVODQG ZDUHQ K|FKVW SKDQWDVWLVFKHU $UW JHZHVHQ 'D JLQJ LFK DOVR ZHLWHU XQG GDFKWH ¾1HLQ LFK ZLOO EHU GLHVHQ 6ROGDWHQ GHU VHLQHQ &KULVWXVYHUNDXIWKDWGRFKQRFKQLFKWGHQ6WDEEUHFKHQ*RWW ZHLZDVIU*HIKOHVLFKLQGLHVHQWUXQNHQHQXQGVFKZDFKHQ +HU]HQ UHJHQ½ $OV LFK HLQH 6WXQGH GDUDXI LQ PHLQ *DVWKDXV ]XUFNNHKUWH VWLH LFK DXI HLQH %DXHUVIUDX PLW HLQHP 6lXJOLQJ(VZDUHLQHQRFKMXQJH)UDXGDV.LQGPRFKWHHWZD VHFKV :RFKHQ DOW VHLQ 'DV .LQG OlFKHOWH VLH DQ QDFK LKUHU %HREDFKWXQJ]XPHUVWHQPDOVHLWVHLQHU*HEXUW,FKVDKGDVLH VLFK DXI HLQPDO PLW GHP $XVGUXFN JU|WHU )U|PPLJNHLW EHNUHX]LJWH ¾:DV KDVW GX GHQQ MXQJH )UDX"½ IUDJWH LFK ,FK HUNXQGLJWHPLFKQlPOLFKGDPDOVQDFKDOOHP ¾$FK½VDJWHVLH ¾HEHQVR ZLH VLFK HLQH 0XWWHU IUHXW ZHQQ VLH LKU .LQG ]XP HUVWHQPDO OlFKHOQ VLHKW JDQ] HEHQVR ZLUG VLFK JHZL DXFK *RWW MHGHVPDO IUHXHQ ZHQQ HU YRP +LPPHO VLHKW GD HLQ
6QGHUYRQJDQ]HP+HU]HQEHWHW½'DVVDJWHGLH%DXHUVIUDX]X PLU IDVW PLW GLHVHQ VHOEHQ :RUWHQ XQG VSUDFK GDPLW HLQHQ EHUDXV WLHIHQ IHLQHQ HFKW UHOLJL|VHQ *HGDQNHQ DXV HLQHQ *HGDQNHQLQGHPGDVJDQ]H:HVHQGHV&KULVWHQWXPV]XJOHLFK ]XP$XVGUXFNNRPPWGDVKHLWGLH9RUVWHOOXQJYRQ*RWWDOV XQVHUP9DWHUXQGYRQGHU)UHXGH*RWWHVEHUGHQ0HQVFKHQ GLH GHU )UHXGH HLQHV 9DWHUV EHU VHLQ .LQG JOHLFKW ± GHU HLJHQWOLFKH .HUQSXQNW GHVVHQ ZDV &KULVWXV JHVDJW KDW (LQH HLQIDFKH%DXHUVIUDX$OOHUGLQJVHLQH0XWWHUXQGZHU ZHL YLHOOHLFKW ZDU VLH GLH )UDX MHQHV 6ROGDWHQ +|UH 3DUIHQ GX IUDJWHVWPLFKYRUKLQGDKDVWGXPHLQH$QWZRUWGDV:HVHQGHV UHOLJL|VHQ *HIKOV ZLUG ZHGHU GXUFK YHUQXQIWPlLJH hEHUOHJXQJHQ QRFK GXUFK 9HUJHKHQ XQG 9HUEUHFKHQ QRFK GXUFK DWKHLVWLVFKH $QVFKDXXQJHQ EHUKUW HV LVW HWZDV $QGHUVDUWLJHV XQG ZLUG LQ DOOH (ZLJNHLW HWZDV $QGHUVDUWLJHV VHLQGLH/HKUHQGHV$WKHLVPXVZHUGHQLQDOOH(ZLJNHLWGDYRQ DEJOHLWHQ XQG LQ DOOH (ZLJNHLW GDUDQ YRUEHLUHGHQ 'LH +DXSWVDFKHDEHULVWGDPDQGLHVDPNODUVWHQXQGVFKQHOOVWHQ DQ GHU UXVVLVFKHQ 6HHOH HUNHQQW GDV LVW GDV 5HVXOWDW PHLQHU %HREDFKWXQJHQ 'DV LVW HLQH GHU HUVWHQ hEHU]HXJXQJHQ GLH LFK EHL XQV LQ 5XODQG JHZRQQHQ KDEH +LHU OlW VLFK HWZDV WXQ 3DUIHQ HV OlW VLFK YLHOHV WXQ DXI XQVHUHP UXVVLVFKHQ %RGHQ JODXEH PLU (ULQQHUH GLFK ZLH ZLU HLQH =HLWODQJ LQ 0RVNDX ]XVDPPHQ OHEWHQ XQG |IWHU PLWHLQDQGHU GDUEHU VSUDFKHQ 8QG LFK KDWWH JDU QLFKW YRUJHKDEW MHW]W KLHUKHU ]XUFN]XNHKUHQ ,FK KDWWH PLU GLH :LHGHUEHJHJQXQJ PLW GLU JDQ]JDQ]DQGHUVDXVJHPDOW1DZDVKLOIW¶V/HEZRKODXI :LHGHUVHKHQ*RWWEHKWHGLFK© (U ZHQGHWH VLFK XP XQG VWLHJ GLH 7UHSSH KLQXQWHU ª/HZ 1LNRODMHZLWVFK© ULHI 3DUIHQ GHP )UVWHQ YRQ REHQ QDFK DOV GLHVHU ]XP HUVWHQ 7UHSSHQDEVDW] JHODQJW ZDU ªKDVW GX GDV .UHX]GDVGXYRQGHP6ROGDWHQ JHNDXIWKDVW EHL GLU"© ª-D© 'HU)UVWEOLHEZLHGHUVWHKHQª=HLJHVGRFKHLQPDOKHU© :LHGHU HLQH QHXH $EVRQGHUOLFKNHLW 'HU )UVW EHUOHJWH
HLQHQ $XJHQEOLFN VWLHJ GDQQ ZLHGHU KLQDXI ]RJ GDV .UHX] KHUDXVXQG]HLJWHHVLKPRKQHHVYRP+DOVDE]XQHKPHQª*LE HVPLU©VDJWH5RJRVKLQª:R]X"+DVWGXGHQQ©'HU)UVW ZROOWH VLFK QLFKW JHUQ YRQ GHP .UHX] WUHQQHQ ª,FK ZLOO HV WUDJHQXQGPHLQHVZLOOLFKGLUJHEHQGDVWUDJHGXGDQQ©ª'X ZLOOVW GD ZLU GLH .UHX]H WDXVFKHQ" 6FK|Q 3DUIHQ ZHQQ GX HV VR PHLQVW GDQQ IUHXH LFK PLFK ZLU ZHUGHQ MHW]W %UGHU VHLQ© 'HU)UVWQDKPVHLQ=LQQNUHX]DE3DUIHQVHLQJROGHQHVXQG VLH WDXVFKWHQ PLWHLQDQGHU 3DUIHQ VFKZLHJ (UVWDXQW XQG EHWUEWEHPHUNWHGHU)UVWGDGDVIUKHUH0LWUDXHQXQGGDV ELWWHUHVS|WWLVFKH/lFKHOQLPPHUQRFKQLFKWYRQGHP*HVLFKW VHLQHV .UHX]EUXGHUV JHVFKZXQGHQ ZDUHQ VRQGHUQ ]XPLQGHVW LQ HLQ]HOQHQ $XJHQEOLFNHQ ZLHGHU VWDUN VLFKWEDU ZXUGHQ 6FKZHLJHQG HUJULII 5RJRVKLQ HQGOLFK GLH +DQG GHV )UVWHQ XQG VWDQG HLQH :HLOH GD DOV RE HU VLFK ]X HWZDV QLFKW HQWVFKOLHHQN|QQWHHQGOLFK]RJHULKQDXIHLQPDOKLQWHUVLFK KHU LQGHP HU NDXP K|UEDU VDJWH ª.RPP© 6LH JLQJHQ TXHU EHU GHQ 7UHSSHQIOXU XQG NOLQJHOWHQ DQ HLQHU 7U GLH GHUMHQLJHQ DXV ZHOFKHU VLH KHUDXVJHNRPPHQ ZDUHQ JHUDGH JHJHQEHUODJ (V ZXUGH LKQHQ EDOG JH|IIQHW (LQH DOWH JDQ] ]XVDPPHQJHNUPPWH )UDX LQ VFKZDU]HP .OHLG PLW HLQHP 7XFK XP GHQ .RSI YHUEHXJWH VLFK VFKZHLJHQG WLHI YRU 5RJRVKLQ GLHVHU VDJWH VFKQHOO HLQ SDDU :RUWH ]X LKU XQG IKUWH RKQH VWHKHQ]XEOHLEHQ XQG HLQH $QWZRUW DE]XZDUWHQ GHQ)UVWHQLQGLH:RKQXQJKLQHLQ:LHGHUGXUFKVFKULWWHQVLH GXQNOH=LPPHUYRQHLQHUDXHURUGHQWOLFKHQVR]XVDJHQNDOWHQ 6DXEHUNHLW DXFK GLH DOWHUWPOLFKHQ 0|EHO LQ LKUHQ ZHLHQ UHLQHQ hEHU]JHQ PDFKWHQ HLQHQ NDOWHQ WUEHQ (LQGUXFN 2KQH$QPHOGXQJIKUWH5RJRVKLQGHQ)UVWHQ JHUDGHZHJVLQ HLQ NOHLQHV VDORQDUWLJHV =LPPHU HLQH +lOIWH GHVVHOEHQ ZDU GXUFK HLQH QLHGULJH =ZLVFKHQZDQG YRQ JOlQ]HQGHP 0DKDJRQLKRO] PLW ]ZHL 7UHQ DQ GHQ (QGHQ DEJHWHLOW GHU GDKLQWHU OLHJHQGH 5DXP GLHQWH ZDKUVFKHLQOLFK DOV
6FKODI]LPPHU ,Q HLQHU (FNH GHV 6DORQV DP 2IHQ VD LQ HLQHP /HKQVWXKO HLQH NOHLQH lOWHUH )UDX GHP $QVFKHLQ QDFK QRFK QLFKW DOO]X EHMDKUW VRJDU PLW HLQHP UHFKW JHVXQGHQ DQJHQHKPHQ UXQGHQ *HVLFKW DEHU VFKRQ YROOVWlQGLJ HUJUDXW XQGZDVPDQVFKRQEHLPHUVWHQ%OLFNHUNHQQHQNRQQWH JDQ] NLQGLVFK JHZRUGHQ 6LH WUXJ HLQ VFKZDU]ZROOHQHV .OHLG HLQ JURHV VFKZDU]HV 7XFK XP GHQ +DOV XQG HLQH UHLQH ZHLH +DXEH PLW VFKZDU]HQ %lQGHUQ 'LH )H UXKWHQ DXI HLQHP )XElQNFKHQ1HEHQLKUVDHLQHDQGHUHVDXEHUJHNOHLGHWHDOWH )UDX lOWHU DOV VLH JOHLFKIDOOV LQ 7UDXHU XQG JOHLFKIDOOV PLW HLQHUZHLHQ+DXEHZDKUVFKHLQOLFKHLQHDUPH3HUVRQGLHDXV *QDGH LQ GDV +DXV DXIJHQRPPHQ ZDU XQG VWULFNWH VFKZHLJHQG HLQHQ 6WUXPSI 6LH VFKLHQHQ EHLGH GLH JDQ]H =HLW JHVFKZLHJHQ ]X KDEHQ $OV GLH HUVWH $OWH 5RJRVKLQ XQG GHQ )UVWHQHUEOLFNWHOlFKHOWHVLHLKQHQ]XXQGQLFNWH]XP=HLFKHQ LKUHV 9HUJQJHQV PHKUPDOV IUHXQGOLFK PLW GHP .RSIH ª0WWHUFKHQ©VDJWH5RJRVKLQLKUGLH+DQGNVVHQGªKLHULVW HLQ JXWHU )UHXQG YRQ PLU )UVW /HZ 1LNRODMHZLWVFK 0\VFKNLQHUXQGLFKKDEHQPLWHLQDQGHUGLH.UHX]HJHWDXVFKW HULVWHLQH=HLWODQJLQ0RVNDXZLHHLQ%UXGHU]XPLUJHZHVHQ XQG KDW YLHO IU PLFK JHWDQ 6HJQH LKQ 0WWHUFKHQ ZLH GX GHLQHQ HLJHQHQ 6RKQ VHJQHQ ZUGHVW :DUWH OLHEH $OWH 6R /DPLFKGLUGLH+DQG]XUHFKWOHJHQ© $EHU QRFK HKH 3DUIHQ =HLW KDWWH GLHV DXV]XIKUHQ KRE GLH DOWH )UDX LKUH UHFKWH +DQG LQ GLH +|KH OHJWH GUHL )LQJHU GHUVHOEHQ ]XVDPPHQ XQG EHNUHX]LJWH GHQ )UVWHQ GUHLPDO DQGlFKWLJ 'DUDXI QLFNWH VLH LKP QRFK HLQPDO IUHXQGOLFK XQG ]lUWOLFK PLW GHP .RSIH ]X ª1XQ ZROOHQ ZLU ZLHGHU JHKHQ /HZ 1LNRODMHZLWVFK© VDJWH 3DUIHQ ª,FK KDWWH GLFK QXU ]X GLHVHP=ZHFNKHUJHIKUW© $OV VLH ZLHGHU DXI GLH 7UHSSH KLQDXVWUDWHQ IJWH HU KLQ]X ª6LHYHUVWHKWMDQLFKWVZDVPDQ]XLKUVDJWXQGKDWDXFKYRQ PHLQHQ :RUWHQ QLFKWV YHUVWDQGHQ DEHU VLH KDW GLFK GRFK JHVHJQHWGDPXHVLKUHLJHQHU:XQVFKJHZHVHQVHLQ1XQ
DEHUOHEZRKOZLUKDEHQEHLGHNHLQH=HLWPHKU© 'DPLW |IIQHWH HU GLH :RKQXQJVWU ª6R OD GLFK GRFK ZHQLJVWHQV ]XP $EVFKLHG XPDUPHQ GX ZXQGHUOLFKHU 0HQVFK©ULHIGHU)UVWLQGHPHULKQPLW]lUWOLFKHP9RUZXUI DQEOLFNWH XQG ZROOWH LKQ XPDUPHQ $EHU 3DUIHQ KDWWH NDXP GLH$UPHHUKREHQDOVHUVLHDXFKVRJOHLFKZLHGHUVLQNHQOLH (UNRQQWHVLFKQLFKWGD]XHQWVFKOLHHQHUZDQGWHVLFKDEXP GHQ )UVWHQ QLFKW DQ]XVHKHQ (U ZROOWH LKQ QLFKW XPDUPHQ ª+DE NHLQH $QJVW ,FK KDEH GLU ]ZDU GHLQ .UHX] ZHJJHQRPPHQ ZHUGH GLFK DEHU QLFKW XP HLQHU 8KU ZLOOHQ HUPRUGHQ© PXUPHOWH HU XQGHXWOLFK XQG ODFKWH DXI HLQPDO VHOWVDP DXI $EHU SO|W]OLFK YHUZDQGHOWH VLFK VHLQ JDQ]HV *HVLFKWHUZXUGHVFKUHFNOLFKEODVHLQH/LSSHQILQJHQDQ]X ]LWWHUQ VHLQH $XJHQ IODPPWHQ DXI (U KRE GLH $UPH LQ GLH +|KH XPDUPWH GHQ )UVWHQ PLW IHVWHP 'UXFN XQG VDJWH NHXFKHQG ª6R QLPP VLH ZHQQ GDV 6FKLFNVDO HV HLQPDO VR ZLOO6LHVHLGHLQ,FKWUHWH]XUFN9HUJL5RJRVKLQQLFKW© 8QG HU ZDQGWH VLFK YRQ GHP )UVWHQ DE JLQJ RKQH QRFK HLQPDO QDFK LKP KLQ]XEOLFNHQ LQ VHLQH :RKQXQJ XQG VFKOXJ GLH7UKLQWHUVLFK]X (V ZDU VFKRQ VSlW IDVW KDOE GUHL XQG GHU )UVW WUDI GHQ *HQHUDO-HSDQWVFKLQQLFKWPHKU]X+DXVH(U OLH VHLQH .DUWH ]XUFN XQG HQWVFKLHG VLFK GDIU QDFK GHP *DVWKDXV ª=XU :DDJH©]XJHKHQXQGGRUWQDFK.ROMD]XIUDJHQXQGZHQQHU QLFKW GRUW ZDU LKP HLQ %ULHIFKHQ ]XUFN]XODVVHQ ,Q GHU ª:DDJH© ZXUGH LKP JHVDJW 1LNRODL $UGDOLRQRZLWVFK VHL VFKRQ DP 0RUJHQ ZHJJHJDQJHQ KDEH DEHU EHLP :HJJHKHQ GLH :HLVXQJ KLQWHUODVVHQ ZHQQ HWZD MHPDQG QDFK LKP IUDJH VROOH PDQ VDJHQ GD HU JHJHQ GUHL 8KU ]XUFN VHLQ ZHUGH :HQQHUXPKDOEYLHUQRFKQLFKWZLHGHUGDVHLVHLHUPLWGHU %DKQ QDFK 3DZORZVN JHIDKUHQ QDFK GHP /DQGKDXVH GHU *HQHUDOLQ -HSDQWVFKLQD XQG ZHUGH GRUW DXFK ]XP (VVHQ EOHLEHQ 'HU )UVW VHW]WH VLFK KLQ XP DXI LKQ ]X ZDUWHQ XQG EHQXW]WHGLH=HLWXPVLFK0LWWDJHVVHQJHEHQ]XODVVHQ
8P KDOE YLHU XQG VRJDU XP YLHU 8KU ZDU .ROMD QRFK QLFKW HUVFKLHQHQ 'HU )UVW JLQJ KLQDXV XQG ZDQGHUWH PHFKDQLVFK XPKHU ZRKLQ LKQ GLH )H WUXJHQ =X $QIDQJ GHV 6RPPHUV JLEW HV LQ 3HWHUVEXUJ PDQFKPDO ZXQGHUVFK|QH 7DJH KHOOH ZDUPH VWLOOH 7DJH (V WUDI VLFK GD GLHVHU 7DJ JHUDGH HLQHU YRQ MHQHQ VHOWHQHQ 7DJHQ ZDU (LQH =HLWODQJ VFKZHLIWH GHU )UVW]LHOORVXPKHU'LH6WDGWZDULKPQXUZHQLJEHNDQQW(U EOLHEPDQFKPDODQ6WUDHQNUHX]XQJHQYRUGLHVHPRGHUMHQHP +DXV DXI 3OlW]HQ XQG %UFNHQ VWHKHQ HLQPDO JLQJ HU DXFK XP VLFK DXV]XUXKHQ LQ HLQH .RQGLWRUHL 0LWXQWHU EHJDQQ HU PLWJU|WHP ,QWHUHVVHGLH3DVVDQWHQ]X EHWUDFKWHQ DEHU PHLVW DFKWHWHHUZHGHUDXIGLH3DVVDQWHQQRFKGDUDXIZRHUJLQJ(U EHIDQGVLFKLQHLQHP=XVWDQGSHLQOLFKHU6SDQQXQJXQG8QUXKH XQG IKOWH JOHLFK]HLWLJ HLQ XQJHZ|KQOLFK VWDUNHV 9HUODQJHQ QDFK (LQVDPNHLW (U ZROOWH JHUQ DOOHLQ VHLQ XQG VLFK GLHVHU TXDOYROOHQ 6SDQQXQJ JDQ] SDVVLY EHUODVVHQ RKQH LP JHULQJVWHQ QDFK HLQHP $XVZHJ ]X VXFKHQ (U HPSIDQG HLQHQ :LGHUZLOOHQ GDJHJHQ VLFK DQ GLH /|VXQJ GHU )UDJHQ KHUDQ]XPDFKHQGLHDXIVHLQH6HHOHXQGVHLQ+HU]HLQGUDQJHQ ª$EHUELQLFKGHQQHWZDDQDOOGHPVFKXOG"©PXUPHOWHHUYRU VLFKKLQIDVWRKQHVLFKVHLQHU:RUWHEHZXW]XZHUGHQ 8PVHFKV8KUIDQGHUVLFKDXIGHP%DKQKRIGHU%DKQQDFK =DUVNRMH 6HOR 'DV $OOHLQVHLQ ZDU LKP EDOG XQHUWUlJOLFK JHZRUGHQ HLQ QHXHV 9HUODQJHQ HUJULII PLW KHLHU *OXW VHLQ +HU]XQGGDV'XQNHOLQGHPVHLQH6HHOHVLFKKlUPWHZXUGH IU HLQHQ $XJHQEOLFN YRQ HLQHP KHOOHQ 6FKHLQ HUOHXFKWHW (U QDKP HLQ %LOOHWW QDFK 3DZORZVN XQG ZDUWHWH XQJHGXOGLJ DXI GHQ=HLWSXQNWGHU$EIDKUWDEHUHUKDWWHLPPHU]XGDV*HIKO DOV YHUIROJH LKQ HWZDV XQG GLHV ZDU :LUNOLFKNHLW QLFKW HWZD HLQ3KDQWDVLHJHELOGHZLHHUYLHOOHLFKW]XGHQNHQ JHQHLJWZDU $OVHUHEHQLP=XJ3ODW]QHKPHQZROOWHZDUIHUSO|W]OLFKGDV JHUDGH JHNDXIWH %LOOHWW DXI GHQ %RGHQ XQG JLQJ YHUZLUUW XQG LQ*HGDQNHQYHUVXQNHQZLHGHUDXVGHP%DKQKRIKLQDXV(LQH :HLOH GDUDXI ILHO LKP DXI GHU 6WUDH SO|W]OLFK HWZDV HLQ HV
ZDU DOV RE LKP DXI HLQPDO HWZDV VHKU 6HOWVDPHV ZDV LKQ VFKRQODQJHEHXQUXKLJWKDWWHNODUZUGH(UHUWDSSWHVLFKPLW %HZXWVHLQ EHL HLQHU %HVFKlIWLJXQJ GLH HU VFKRQ ODQJH IRUWJHVHW]WDEHUELV]XGLHVHP$XJHQEOLFNQLFKWEHPHUNWKDWWH VFKRQ VHLW PHKUHUHQ 6WXQGHQ VFKRQ DOV HU QRFK LQ GHU ª:DDJH©ZDUYLHOOHLFKWVRJDUVFKRQHKHHUGRUWKLQNDPKDWWH HUYRQ=HLW]X=HLWDQJHIDQJHQJHZLVVHUPDHQHWZDVXPVLFK KHUXP ]X VXFKHQ (U KDWWH GLHVH 7lWLJNHLW PLWXQWHU ZLHGHU YHUJHVVHQVRJDUDXIOlQJHUH=HLWDXIHLQHKDOEH6WXQGHGDQQ DEHU DXI HLQPDO YRQ QHXHP VLFK XQUXKLJ XP]XVHKHQ XQG ULQJVXPKHU]XVXFKHQEHJRQQHQ $EHUNDXPKDWWHHUDQVLFKGLHVHVNUDQNKDIWHXQGELVKHUJDQ] XQEHZXWH 9HUODQJHQ EHPHUNW GDV LKQ VFKRQ VR ODQJH EHKHUUVFKWHDOVSO|W]OLFKYRUVHLQHPJHLVWLJHQ$XJHQRFKHLQH DQGHUH (ULQQHUXQJ DXIWDXFKWH GLH LKQ DXHURUGHQWOLFK LQWHUHVVLHUWHHUHULQQHUWHVLFKGDHULQGHP$XJHQEOLFNDOVHU VLFK GLHVHV EHVWlQGLJHQ 6XFKHQV EHZXW ZXUGH DXI GHP *HKVWHLJ YRU HLQHP 6FKDXIHQVWHU JHVWDQGHQ XQG PLW JURHP ,QWHUHVVHGLHGRUWDXVJHOHJWHQ:DUHQEHWUDFKWHWKDWWH-HW]WODJ LKP VHKU GDUDQ XQWHU DOOHQ 8PVWlQGHQ IHVW]XVWHOOHQ RE HU ZLUNOLFK VRHEHQ YRU YLHOOHLFKW QXU IQI 0LQXWHQ YRU GLHVHP 6FKDXIHQVWHU JHVWDQGHQ KDWWH XQG LKP GDV QLFKW HWZD QXU VR YRUJHNRPPHQ ZDU XQG HU LUJHQG HWZDV YHUZHFKVHOW KDWWH ([LVWLHUWHQGLHVHU/DGHQXQGGLHVH:DUHQZLUNOLFK"(UKDWWHMD KHXWH WDWVlFKOLFK GDV *HIKO GD HU VLFK LQ HLQHP EHVRQGHUV NUDQNKDIWHQ =XVWDQG EHIDQG IDVW LQ GHPVHOEHQ =XVWDQG GHU VLFK GDPDOV ]X %HJLQQ GHU $QIlOOH VHLQHU IUKHUHQ .UDQNKHLW EHLLKPHLQ]XVWHOOHQSIOHJWH(U ZXWH GD HU LQ GHU =HLW ZR VLFK GLH $QIlOOH YRUEHUHLWHWHQ DXHURUGHQWOLFK ]HUVWUHXW ZDU XQG RIW VRJDU *HJHQVWlQGH XQG 3HUVRQHQ YHUZHFKVHOWH ZHQQ HUVLHRKQHEHVRQGHUVJHVSDQQWH$XIPHUNVDPNHLWDQVDK$EHU HVZDUDXFKQRFKHLQVSH]LHOOHU*UXQGYRUKDQGHQZHVKDOELKP MHW]WVRVHKUGDUDQJHOHJHQZDUIHVW]XVWHOOHQREHUYRUKLQYRU HLQHP /DGHQ JHVWDQGHQ KDWWH XQWHU GHQ LP 6FKDXIHQVWHU
DXVJHOHJWHQ *HJHQVWlQGHQ ZDU HLQHU JHZHVHQ GHQ HU EHWUDFKWHW XQG GDEHL VRJDU DXI VHFK]LJ .RSHNHQ WD[LHUW KDWWH GDUDQ HULQQHUWH HU VLFK WURW] DOO VHLQHU =HUVWUHXWKHLW XQG 8QUXKH )ROJOLFK ZHQQ GLHVHU /DGHQ H[LVWLHUWH XQG GHU EHWUHIIHQGH *HJHQVWDQG WDWVl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¾*HZL VHFK]LJ.RSHNHQPHKULVWHUQLFKWZHUW½VDJWHHUVLFKMHW]WDXI GDV EHVWLPPWHVWH XQG ODFKWH DXI $EHU GLHVHV /DFKHQ ZDU K\VWHULVFKHUIKOWHVLFKVHKUEHGUFNW(U HULQQHUWH VLFK MHW]W GHXWOLFK GD HU JHUDGH KLHU ZlKUHQG HU YRU GLHVHP 6FKDXIHQVWHUVWDQGVLFKSO|W]OLFKXPJHGUHKWKDWWHHEHQVRZLH HLQH :HLOH YRUKHU DOV HU 5RJRVKLQV $XJHQ DXI VLFK JHULFKWHW IKOWH 1DFKGHP HU VLFK EHU]HXJW KDWWH GD HU VLFK LQ GHP /DGHQ XQG GHP *HJHQVWDQG QLFKW JHLUUW KDWWH ZRYRQ HU EULJHQV DXFK VFKRQ YRU GHU 1DFKSUIXQJ EHU]HXJW JHZHVHQ ZDU LQWHUHVVLHUWH HU VLFK QLFKW PHKU IU GHQ /DGHQ XQG JLQJ VR VFKQHOO ZLH P|JOLFK IRUW $OOHV GLHV PXWH HU XQWHU DOOHQ 8PVWlQGHQ P|JOLFKVW EDOG EHUGHQNHQ MHW]W ZDU HV LKP NODU GDHUDXFKGRUWDXIGHP=DUVNRMH6HOR%DKQKRIQLFKWQXUVR HLQH OHHUH 9RUVWHOOXQJ JHKDEW KDWWH VRQGHUQ LKP XQEHGLQJW HWZDV :LUNOLFKHV EHJHJQHW ZDU GDV PLW DOO GLHVHU VHLQHU IUKHUHQ 8QUXKH ]XVDPPHQKLQJ $EHU GHU LQQHUOLFKH XQEHUZLQGOLFKH:LGHUZLOOHJHZDQQZLHGHUGLH2EHUKDQGGHU )UVWPRFKWHQLFKWVEHUOHJHQXQGWDWHVDXFKQLFKWHUYHUVDQN
JDQ] LQ *HGDQNHQ DQ HWZDV DQGHUHV (U GDFKWH XQWHU DQGHUP GDUDQGDHVLQVHLQHPHSLOHSWLVFKHQ=XVWDQGIDVWXQPLWWHOEDU YRUGHP$QIDOOIDOOVGHU$QIDOOLP:DFKHQHLQWUDW HLQH3KDVH JHJHEHQ KDWWH ZR DXI HLQPDO PLWWHQ LQ GHU 7UDXULJNHLW VHHOLVFKHQ)LQVWHUQLVXQG1LHGHUJHVFKODJHQKHLWVHLQ*HKLUQIU $XJHQEOLFNH JOHLFKVDP DXIJHIODPPW ZDU XQG DOO VHLQH /HEHQVNUlIWH VLFK SO|W]OLFK PLW DXHUJHZ|KQOLFKHU (QHUJLH JHVSDQQW KDWWHQ 'LH (PSILQGXQJ GHV /HEHQV XQG GDV %HZXWVHLQGHUHLJHQHQ3HUV|QOLFKNHLWYHU]HKQIDFKWHQ VLFK LQ GLHVHQ $XJHQEOLFNHQ GLH QXU GLH 'DXHU HLQHV %OLW]HV KDWWHQ 9HUVWDQG XQG +HU] ZDUHQ YRQ HLQHP XQJHZ|KQOLFKHQ /LFKW GXUFKOHXFKWHW DOO VHLQH $XIUHJXQJHQ DOO VHLQH =ZHLIHO DOO VHLQH %HXQUXKLJXQJHQ PLW HLQHP 6FKODJH EHVlQIWLJW LQ HLQH K|KHUH 5XKH YROO NODUHU KDUPRQLVFKHU )UHXGH XQG +RIIQXQJ YROO 9HUVWDQG XQG (LQVLFKW LQ GLH OHW]WHQ *UQGH GHU 'LQJH DXIJHO|VW $EHU GLHVH 0RPHQWH GLHVH /LFKWEOLW]H ZDUHQ QXU 9RUOlXIHU MHQHU OHW]WHQ HQWVFKHLGHQGHQ 6HNXQGH HV ZDU QLH PHKU DOV HLQH 6HNXQGH PLW GHU GHU $QIDOO VHOEVW EHJDQQ 'LHVH6HNXQGHIUHLOLFKZDUXQHUWUlJOLFK:HQQHUVSlWHUQDFK :LHGHUNHKU GHV JHVXQGHQ =XVWDQGHV EHU GLHVHQ $XJHQEOLFN QDFKGDFKWHVRVDJWHHUVLFKRIWGDGLHVHV$XIVFKLPPHUQXQG $XIEOLW]HQHLQHVHUK|KWHQ6HOEVWJHIKOVXQG6HOEVWEHZXWVHLQV XQG VRPLW DXFK HLQHV ªK|KHUHQ 6HLQV© QLFKWV DQGHUHV VHL DOV .UDQNKHLWHLQH $XIKHEXQJGHVQRUPDOHQ =XVWDQGHVXQGGD ZHQQHVVLFKVRYHUKDOWHGLHVEHUKDXSWNHLQK|KHUHV6HLQVHL VRQGHUQ JDQ] LP *HJHQWHLO ]X GHU DOOHUQLHGULJVWHQ $UW GHV 6HLQV JHUHFKQHW ZHUGHQ PVVH 8QG WURW]GHP JHODQJWH HU VFKOLHOLFK ]X HLQHU K|FKVW SDUDGR[HQ 6FKOXIROJHUXQJ ¾:DV OLHJW GDUDQ GD GLHV .UDQNKHLW LVW½ VDJWH HU VLFK ¾ZDV OLHJW GDUDQ GD HV HLQH QLFKW QRUPDOH $QVSDQQXQJ LVW ZHQQ GDV 5HVXOWDWGHU $XJHQEOLFN GLHVHU (PSILQGXQJ GHPMHQLJHQ GHU QDFK :LHGHUNHKU GHV JHVXQGHQ =XVWDQGHV VLFK GDUDQ HULQQHUW XQG HV EHUGHQNW DOV GLH K|FKVWH 6WXIH GHU +DUPRQLH XQG 6FK|QKHLWHUVFKHLQWXQGLKPHLQELVKHUXQJHDKQWHV*HIKOGHU
)OOH GHV *OHLFKPDHV GHU 9HUV|KQXQJ XQG GHV HQW]FNWHQ JHEHWDUWLJHQ=XVDPPHQIOLHHQVPLWGHUK|FKVWHQ6\QWKHVHGHV /HEHQV YHUOHLKW"½ 'LHVH QHEHOKDIWHQ $XVGUFNH NDPHQ LKP VHOEVWVHKUYHUVWlQGOLFKYRUXQGHUVFKLHQHQLKPQXUDOVJDU]X VFKZDFK 'DUDQ GD GLHV WDWVlFKOLFK ª6FK|QKHLW XQG *HEHW© XQG ªGLH K|FKVWH 6\QWKHVH GHV /HEHQV© VHL GDUDQ NRQQWH HU NHLQHQ =ZHLIHO KHJHQ XQG NHLQHQ =ZHLIHO IU ]XOlVVLJ HUDFKWHQ (V ZDUHQ GLHV MD GRFK NHLQH WUDXPKDIWHQ 9LVLRQHQ ZLH VLH GLH )ROJH GHV *HQXVVHV YRQ +DVFKLVFK 2SLXP RGHU $ONRKRO VLQG XQQDWUOLFKH ZHVHQORVH 9LVLRQHQ GLH GLH 'HQNWlWLJNHLW KHUDEVHW]HQ XQG GHQ *HLVW VFKlGLJHQ 'DV NRQQWH HU QDFK %HHQGLJXQJ GHV NUDQNKDIWHQ =XVWDQGHV NODU EHXUWHLOHQ 'LHVH $XJHQEOLFNH ZDUHQ YLHOPHKU JHUDGH HLQH DXHURUGHQWOLFKH6WHLJHUXQJGHV6HOEVWEHZXWVHLQVZHQQPDQ GLHVHQ =XVWDQG PLW HLQHP :RUW EH]HLFKQHQ VROO GHV 6HOEVWEHZXWVHLQV XQG JOHLFK]HLWLJ HLQHV LP K|FKVWHQ *UDGH XQPLWWHOEDUHQ 6HOEVWJHIKOV :HQQ HU LQ MHQHU 6HNXQGH GDV KHLW LQ GHP OHW]WHQ $XJHQEOLFNH GHV %HZXWVHLQV YRU GHP $QIDOO PDQFKPDO QRFK GLH 0|JOLFKNHLW IDQG ]X VLFK VHOEVW NODUXQGPLW%HZXWVHLQ]XVDJHQ¾-DIUGLHVHQ$XJHQEOLFN N|QQWH PDQ GDV JDQ]H /HEHQ KLQJHEHQ½ VR ZDU GLHVHU $XJHQEOLFN VLFKHUOLFK GDV JDQ]H /HEHQ ZHUW hEULJHQV ZROOWH HUIUGLHORJLVFKH5LFKWLJNHLWVHLQHV6FKOXVVHVQLFKWHLQVWHKHQ GHU 6WXPSIVLQQ GLH VHHOLVFKH )LQVWHUQLV GLH ,GLRWLH DOV GHXWOLFKH )ROJH MHQHU K|FKVWHQ $XJHQEOLFNH VWDQGHQ LKP QXU ]XNODUYRU$XJHQ(UZUGHGDUEHUQDWUOLFKQLFKW LP (UQVW GLVSXWLHUW KDEHQ ,Q VHLQHU 6FKOXIROJHUXQJ GDV KHLW LQ GHU :HUWVFKlW]XQJ GLHVHV $XJHQEOLFNV ODJ XQ]ZHLIHOKDIW HLQ )HKOHU DEHU GLH 5HDOLWlW GHV *HIKOV YHUZLUUWH LKQ GRFK HLQLJHUPDHQ ,Q GHU 7DW ZDV ZDU PLW GLHVHU 5HDOLWlW ]X PDFKHQ"6LHH[LVWLHUWHGRFKHUVHOEVWKDWWHGRFKLQHEHQMHQHU 6HNXQGH QRFK =HLW JHIXQGHQ ]X VLFK ]X VDJHQ GD GLHVH 6HNXQGHXPGHVJUHQ]HQORVHQ*OFNHVZLOOHQGDVHUYROOXQG JDQ] HPSILQGH YLHOOHLFKW GDV JDQ]H /HEHQ ZHUW VHLQ N|QQH
ª,Q GLHVHP $XJHQEOLFN© VR KDWWH HU ]X 5RJRVKLQ LQ 0RVNDX ]XU =HLW LKUHU KlXILJHQ =XVDPPHQNQIWH HLQPDO JHVDJW ªLQ GLHVHP $XJHQEOLFN ZLUG PLU MHQHU DXIIDOOHQGH $XVVSUXFK YHUVWlQGOLFK GD KLQIRUW NHLQH =HLW PHKU VHLQ VROO :DKUVFKHLQOLFK© KDWWH HU OlFKHOQG KLQ]XJHIJW ªLVW GDV GLHVHOEH 6HNXQGH LQ GHU GHU XPJHVWRHQH :DVVHUNUXJ GHV (SLOHSWLNHUV0RKDPPHGQLFKW=HLWIDQGDXV]XIOLHHQZlKUHQG 0RKDPPHG LQ GHUVHOEHQ 6HNXQGH DOOH :RKQXQJHQ $OODKV EHVFKDXWH© -D HU ZDU LQ 0RVNDX KlXILJ PLW 5RJRVKLQ ]XVDPPHQJHNRPPHQ XQG KDWWH PLW LKP QRFK EHU YLHOH DQGHUH*HJHQVWlQGHJHVSURFKHQ¾5RJRVKLQKDWYRUKLQJHVDJW LFK KlWWH GDPDOV DQ LKP ZLH HLQ %UXGHU JHKDQGHOW GDV KDW HU KHXWH]XPHUVWHQPDOJHVDJW½GDFKWHGHU)UVWEHLVLFK(UKLQJ GLHVHQ *HGDQNHQ QDFK ZlKUHQG HU LP 6RPPHUJDUWHQ XQWHU HLQHP%DXPDXIHLQHU%DQNVD(VZDUXQJHIlKUVLHEHQ8KU 'HU *DUWHQ ZDU OHHU HLQ GXQNOHV *HZ|ON XPKOOWH IU HLQHQ $XJHQEOLFN GLH XQWHUJHKHQGH 6RQQH (V ZDU VFKZO DOV RE YRQ IHUQH HLQ *HZLWWHU DXI]|JH ,Q VHLQHP MHW]LJHQ NRQWHPSODWLYHQ =XVWDQG ODJ IU LKQ HWZDV 9HUORFNHQGHV (U NODPPHUWH VLFK PLW VHLQHQ (ULQQHUXQJHQ XQG VHLQHP 'HQNHQ DQMHGHQlXHUHQ*HJHQVWDQGXQGGLHVJHILHOLKPGDHULPPHU HWZDV :LUNOLFKHV *HJHQZlUWLJHV YHUJHVVHQ ZROOWH DEHU EHL GHPHUVWHQ%OLFNGHQHUXPVLFKWDWHUNDQQWHHUVRIRUWVHLQHQ WUDXULJHQ*HGDQNHQZLHGHUGHQ*HGDQNHQYRQGHPHUVLFKVR VHKU ORV]XPDFKHQ ZQVFKWH (U YHUVXFKWH VLFK GDUDQ ]X HULQQHUQ GD HU YRUKLQ LQ GHP 5HVWDXUDQW EHLP 0LWWDJHVVHQ PLW GHP .HOOQHU EHU HLQHQ NU]OLFK JHVFKHKHQHQ VHKU HLJHQDUWLJHQ0RUGJHVSURFKHQKDWWHGHUYLHO$XIVHKHQHUUHJWH XQG]XYLHOHQ*HVSUlFKHQ$QODJDE$EHUNDXPKDWWHHUGLHVH (ULQQHUXQJ LQ VLFK ZDFKJHUXIHQ DOV LKP DXI HLQPDO ZLHGHU HWZDVJDQ]%HVRQGHUHVEHJHJQHWH (LQ DXHURUGHQWOLFKHV XQEH]ZLQJOLFKHV 9HUODQJHQ VFKOXJ ZLH HLQH GlPRQLVFKH 9HUVXFKXQJ DXI HLQPDO VHLQH JDQ]H :LOOHQVNUDIWLQ%DQGH(UVWDQGYRQGHU%DQNDXIXQGJLQJDXV
GHP*DUWHQJHUDGHZHJVLQ5LFKWXQJGHU3HWHUVEXUJHU6HLWH(U KDWWH YRUKLQ DP 1HZD.DL HLQHQ 3DVVDQWHQ JHEHWHQ LKP GHQ :HJEHUGLH1HZDQDFKGHU3HWHUVEXUJHU6HLWH]X]HLJHQGDV KDWWHGLHVHUDXFKJHWDQDEHUGHU)UVWZDUYRUKLQQLFKWGRUWKLQ JHJDQJHQ8QGMHGHQIDOOVZDUHVKHXWH]ZHFNORVKLQ]XJHKHQ GDVZXWHHU'LH$GUHVVHKDWWHHUDOOHUGLQJVVFKRQODQJHXQG NRQQWH VRPLW GDV +DXV GHU 6FKZlJHULQ /HEHGHZV OHLFKW ILQGHQDEHUHUZXWHEHLQDKVLFKHUGDHUVLHQLFKW]X+DXVH WUHIIHQ ZUGH ¾6LH LVW MHGHQIDOOV QDFK 3DZORZVN JHIDKUHQ VRQVW KlWWH .ROMD YHUDEUHGXQJVJHPl HWZDV LQ GHU ª:DDJH© KLQWHUODVVHQ½ :HQQ HU DOVR MHW]W KLQJLQJ VR WDW HU GDV VLFKHUOLFKQLFKWXPVLH]XVHKHQ(LQHDQGHUHWUEHTXDOYROOH :LEHJLHUGH ORFNWH LKQ GRUWKLQ (LQ QHXHU SO|W]OLFKHU *HGDQNHZDULKPJHNRPPHQ $EHU HV JHQJWH LKP YROONRPPHQ GD HU JLQJ XQG ZXWH ZRKLQ HU JLQJ HLQHQ $XJHQEOLFN QDFK GHP (QWVFKOX ZDU HU EHUHLWVLQ%HZHJXQJIDVWRKQHDXIGHQ:HJ]XDFKWHQ6HLQHQ ªSO|W]OLFKHQ*HGDQNHQ©OlQJHU]XEHUOHJHQZXUGHLKPVRIRUW IXUFKWEDU ZLGHUZlUWLJ XQG EHLQDK XQP|JOLFK 0LW TXDOYROO DQJHVWUHQJWHU $XIPHUNVDPNHLW EHWUDFKWHWH HU DOOHV ZDV LKP YRU GLH $XJHQ NDP GHQ +LPPHO GLH 1HZD (U ILQJ HLQ *HVSUlFK PLW HLQHP LKP EHJHJQHQGHQ NOHLQHQ .LQG DQ 9LHOOHLFKWVWHLJHUWHVLFKDXFKVHLQHSLOHSWLVFKHU=XVWDQGLPPHU PHKUXQGPHKU'DV*HZLWWHUVFKLHQZLUNOLFKKHUDXI]X]LHKHQ ZHQQ DXFK QXU ODQJVDP ,Q GHU )HUQH EHJDQQ HV VFKRQ ]X GRQQHUQ(VZXUGHVHKUVFKZO :LH HLQHP PDQFKPDO HLQH 0HORGLH QLFKW DXV GHP .RSI JHKW REZRKO VLH HLQHP ]XP (NHO JHZRUGHQ LVW VR PXWH HU MHW]W DXV HLQHP QLFKW UHFKW YHUVWlQGOLFKHQ *UXQG IRUWZlKUHQG DQ /HEHGHZV 1HIIHQ GHQNHQ GHQ HU YRU HLQLJHQ 6WXQGHQ NHQQHQJHOHUQWKDWWH6HOWVDPZDUGDGLHVHULKPLPPHULQGHU *HVWDOW MHQHV 0|UGHUV LQV *HGlFKWQLV NDP GHVVHQ GDPDOV /HEHGHZ VHOEVW (UZlKQXQJ JHWDQ KDWWH DOV HU LKP VHLQHQ 1HIIHQ YRUVWHOOWH -D YRQ GLHVHP 0|UGHU KDWWH HU QRFK YRU
JDQ]NXU]HU=HLWLQGHU=HLWXQJJHOHVHQhEHUGHUDUWLJH'LQJH KDWWHHUVHLWVHLQHU5FNNHKUQDFK5XODQGYLHOHVJHOHVHQXQG JHK|UWXQGDOOGLHVH*HVFKLFKWHQHLIULJYHUIROJW6RKDWWHHUYRU HLQHU:HLOHDXFKLQGHP*HVSUlFKPLWGHP.HOOQHUJHUDGHIU GLHVHQ 0|UGHU GHU )DPLOLH 6KHPDULQ OHEKDIWHV ,QWHUHVVH EHNXQGHW'HU.HOOQHUZDUPLWLKPJOHLFKHU0HLQXQJJHZHVHQ GDUDQHULQQHUWHHUVLFK(UHULQQHUWHVLFKDXFKDQGHQ.HOOQHU HV ZDU HLQ NOXJHU MXQJHU %XUVFKH YRQ HUQVWHP YRUVLFKWLJHP :HVHQ¾$EHU½VDJWHVLFKGHU)UVW¾*RWWPDJZLVVHQZDVHU IU HLQ 0HQVFK LVW HV LVW VFKZHU LQ HLQHP QHXHQ /DQG QHXH 0HQVFKHQ]XGXUFKVFKDXHQ½$QGLHUXVVLVFKH6HHOHEHJDQQHU EULJHQV OHLGHQVFKDIWOLFK ]X JODXEHQ 2K YLHO YLHO LKP JDQ] 1HXHV 8QJHDKQWHV 8QHUZDUWHWHV KDWWH HU LQ GLHVHQ VHFKV 0RQDWHQ NHQQHQJHOHUQW $EHU HLQH IUHPGH 6HHOH LVW HLQ GXQNOHV5lWVHODXFKGLHUXVVLVFKH6HHOHLVWHLQGXQNOHV5lWVHO ZHQLJVWHQV IU YLHOH 0HQVFKHQ 'D KDWWH HU QXQ ODQJH PLW 5RJRVKLQ YHUNHKUW QDKH YHUNHKUW EUGHUOLFK YHUNHKUW DEHU NDQQWH HU 5RJRVKLQ HWZD" :HOFK HLQ :LUUZDUU XQG ZLHYLHO +lOLFKHV ZDU PDQFKPDO LQ HLQHU 0HQVFKHQVHHOH GLHVHP &KDRVHQWKDOWHQ8QGZDVIU HLQ JDUVWLJHU VHOEVW]XIULHGHQHU 3DWURQ ZDU GLHVHU /HEHGHZVFKH 1HIIH YRQ YRUKLQ ¾$EHU ZDV PDFKH LFK GHQQ"½ IXKU GHU )UVW LQ VHLQHQ 7UlXPHUHLHQ IRUW ¾,VW HU HV HWZD JHZHVHQ GHU GLHVH VHFKV 0HQVFKHQ HUPRUGHW KDW" ,FK VFKHLQH GD HWZDV ]X YHUZHFKVHOQ ZLH VRQGHUEDU 'HU .RSI LVW PLU HWZDV VFKZLQGOLJ $EHU ZDV IU HLQ V\PSDWKLVFKHV OLHEHV *HVLFKW KDW /HEHGHZV lOWHVWH 7RFKWHU GLHZHOFKHPLWGHP.LQGDXIGHP$UPGDVWDQGZDVIUHLQHQ XQVFKXOGLJHQNLQGOLFKHQ$XVGUXFNXQGZDVIUHLQNLQGOLFKHV /DFKHQ6HOWVDPGDHUGLHVHV*HVLFKWELVKHUYHUJHVVHQKDWWH XQGHVLKPHUVWMHW]WZLHGHUHLQILHO/HEHGHZGHUGLH6HLQLJHQ GXUFK7UDPSHOQPLWGHQ)HQHLQVFKFKWHUQP|FKWHOLHEWVLH ZDKUVFKHLQOLFKDOOHVHKU8QGVRVLFKHUZLH]ZHLPDO]ZHLYLHU LVWOLHEW/HEHGHZDXFKVHLQHQ1HIIHQYRQ+HU]HQ :LHNDPHUEULJHQVGD]XEHUGLHVH/HXWHVRHQGJOWLJ]X
XUWHLOHQHUGHUGRFKHUVWKHXWHDQJHNRPPHQZDU":LHNRQQWH HUVROFKH8UWHLOHIlOOHQ"'DKDW LKP JOHLFK KHXWH /HEHGHZ VR HLQ 3UREOHP JHOLHIHUW KDW HU GHQQ HWZD HUZDUWHW LQ /HEHGHZ HLQHQ VROFKHQ 0HQVFKHQ ]X ILQGHQ" +DW HU HWZD /HEHGHZ IUKHU YRQ GLHVHU 6HLWH JHNDQQW" /HEHGHZ XQG GLH *UlILQ 'XEDUU\ ± R *RWW :HQQ EULJHQV 5RJRVKLQ HLQHQ 0RUG EHJHKHQ VROOWH VR ZLUG HU GDV ZHQLJVWHQV QLFKW LQ VR ZLGHUZlUWLJHU:HLVHWXQ(LQVROFKHVVHHOLVFKHV&KDRVZLUGHV GD QLFKW JHEHQ (LQ QDFK HLQHU =HLFKQXQJ EHVWHOOWHV 0RUGLQVWUXPHQW XQG VHFKV LQ Y|OOLJHV 'HOLULXP YHUVHW]WH 0HQVFKHQ %HVLW]W HWZD 5RJRVKLQ HLQ QDFK HLQHU =HLFKQXQJ EHVWHOOWHV 0RUGLQVWUXPHQW" ¾$EHU LVW HV GHQQ EHUHLWV DXVJHPDFKWH6DFKHGD5RJRVKLQHLQHQ0RUGEHJHKHQZLUG"½ GDFKWH GHU )UVW XQG ]XFNWH GDEHL ]XVDPPHQ ª,VW HV PHLQHUVHLWV QLFKW HLQ 9HUEUHFKHQ XQG HLQH *HPHLQKHLW GLHV PLW VROFKHU ]\QLVFKHQ 2IIHQKHLW DQ]XQHKPHQ"© ULHI HU XQG 6FKDPU|WHHUJRVLFKEHUVHLQ*HVLFKW(UZDU JDQ]EHVWU]W XQG EOLHE ZLH DQJHZXU]HOW DXI GHP :HJ VWHKHQ (U HULQQHUWH VLFK DQ GDV ZDV LKP YRU HLQHP :HLOFKHQ DXI GHP =DUVNRMH 6HOR%DKQKRI XQG DP 0RUJHQ DXI GHP 1LNRODL±%DKQKRI EHJHJQHWZDUXQGGDUDQ ZLH HU 5RJRVKLQ JHUDGH LQV *HVLFKW QDFKGHQ$XJHQJHIUDJWKDWWHXQGDQ5RJRVKLQV.UHX]GDVHU MHW]WVHOEVWWUXJXQGZLHLKQ5RJRVKLQV0XWWHUJHVHJQHWKDWWH ]XGHUHUYRQGLHVHPVHOEVWKLQJHIKUWZRUGHQZDUXQGDQGLH OHW]WH NUDPSIKDIWH 8PDUPXQJ XQG GHQ VFKOLHOLFKHQ 9HU]LFKW 5RJRVKLQVDXIGHU7UHSSH±XQGQDFKDOOHGHPHUWDSSWHHUVLFK QXQ GDEHL ZLH HU IRUWZlKUHQG XP VLFK KHUXP HWZDV VXFKWH XQGGDQQGLHVHU/DGHQXQGGLHVHU*HJHQVWDQGZDVIU HLQH *HPHLQKHLW 8QG QDFK DOOHGHP JLQJ HU MHW]W ªPLW HLQHU EHVRQGHUHQ $EVLFKW PLW HLQHP EHVRQGHUHQ SO|W]OLFKHQ *HGDQNHQ© GRUWKLQ 9HU]ZHLIOXQJ XQG /HLG HUJULIIHQ VHLQH JDQ]H 6HHOH 'HU )UVW ZROOWH XQYHU]JOLFK XPNHKUHQ XQG QDFK VHLQHP *DVWKDXV ]XUFNJHKHQ HU PDFKWH DXFK ZLUNOLFK NHKUW XQG VFKOXJ GLHVH 5LFKWXQJ HLQ DEHU QDFK HLQHU 0LQXWH
EOLHE HU ZLHGHU VWHKHQ EHUOHJWH ZHQGHWH XP XQG VHW]WH VHLQHQIUKHUHQ:HJIRUW 8QGMHW]WEHIDQGHUVLFKVFKRQDXIGHU3HWHUVEXUJHU6HLWHXQG ZDUQDKHEHLGHPEHWUHIIHQGHQ+DXVMHW]WJLQJHUMDQLFKWPLW GHU IUKHUHQ $EVLFKW GRUWKLQ XQG QLFKW ªPLW GHP EHVRQGHUHQ *HGDQNHQ© :LH ZlUH GDV DXFK P|JOLFK -D VHLQH .UDQNKHLW NHKUWHZLHGHUGDVZDUXQ]ZHLIHOKDIWYLHOOHLFKWEHNDPHUQRFK KHXWH HLQHQ $QIDOO 'HU EHYRUVWHKHQGH $QIDOO ZDU DXFK GLH 8UVDFKH GLHVHU JDQ]HQ VHHOLVFKHQ 'XQNHOKHLW XQG GLHVHV ª*HGDQNHQV© -HW]W ZDU GLH 'XQNHOKHLW ]HUVWUHXW GHU 'lPRQ YHUWULHEHQ HV JDE NHLQH =ZHLIHO PHKU LQ VHLQHP +HU]HQ KHUUVFKWH)UHXGH8QGHUKDWWHVLHVRODQJHQLFKWJHVHKHQHV ZDULKP%HGUIQLVVLHZLHGHU]XVHKHQXQGMDMHW]WZUGHHU ZQVFKHQ 5RJRVKLQ ]X WUHIIHQ HU ZUGH LKQ EHL GHU +DQG QHKPHQXQGVLHZUGHQ]XVDPPHQKLQJHKHQ6HLQ+HU]ZDU UHLQZDUHUGHQQHWZD5RJRVKLQV1HEHQEXKOHU"0RUJHQZLUG HUVHOEVW]X5RJRVKLQJHKHQXQGLKPVDJHQGDHUVLHJHVHKHQ KDW (U LVW MD ZLH 5RJRVKLQ YRUKLQ JHVDJW KDW QXU XP VLH ]X VHKHQKLHUKHUJHHLOW0|JOLFKHUZHLVHWULIIWHU VLH ]X +DXVH HV LVWMDGRFKQLFKWVLFKHUGDVLHVLFKLQ3DZORZVNEHILQGHW -D GDV DOOHV PX MHW]W NODUJHVWHOOW ZHUGHQ GDPLW HLQ MHGHU GHXWOLFKLQGHP+HU]HQGHV DQGHUQ OHVHQ NRQQWH XQG HV NHLQH GVWHUHQ OHLGHQVFKDIWOLFKHQ 9HU]LFKWH PHKU JDE ZLH YRUKLQ 5RJRVKLQV9HU]LFKWQHLQDOOHVPXWHVLFKIUHLXQGLP+HOOHQ YROO]LHKHQ :DU GHQQ 5RJRVKLQ QLFKW IlKLJ HLQ /HEHQ LP +HOOHQ ]X IKUHQ" (U VDJW HU OLHEH VLH LQ DQGHUHU :HLVH HU KDEH PLW LKU NHLQHUOHL GHUDUWLJHV 0LWOHLG $OOHUGLQJV IJWH HU GDQQ QRFK KLQ]X ª'HLQ 0LWOHLG LVW YLHOOHLFKW QRFK JU|HU DOV PHLQH /LHEH© DEHU GDPLW YHUOHXPGHW HU VLFK VHOEVW +P 5RJRVKLQEHUHLQHP%XFKLVWGDVQLFKWVFKRQ0LWOHLGQLFKW HLQ $QIDQJ YRQ 0LWOHLG" %HZHLVW QLFKW VFKRQ GDV 9RUKDQGHQVHLQ GLHVHV %XFKHV LQ VHLQHP %HVLW] GD HU VLFK VHLQHV 9HUKlOWQLVVHV ]X LKU YROO EHZXW LVW" 8QG VHLQH (U]lKOXQJ YRQ YRUKLQ" 1HLQ GDV LVW HLQ WLHIHUHV *HIKO DOV
EORH /HLGHQVFKDIW 8QG IO|W GHQQ LKU *HVLFKW QXU /HLGHQVFKDIW HLQ" 8QG NDQQ GLHVHV *HVLFKW MHW]W EHUKDXSW /HLGHQVFKDIW HLQIO|HQ" (V HUZHFNW 6FKPHU] HV HUJUHLIW GLH JDQ]H 6HHOH HV XQG HLQH EUHQQHQGH TXDOYROOH (ULQQHUXQJ ]RJGHP)UVWHQSO|W]OLFKGDV+HU]]XVDPPHQ -D HLQH TXDOYROOH (ULQQHUXQJ (U HULQQHUWH VLFK GDUDQ ZHOFKH4XDOHVNU]OLFKIULKQJHZHVHQZDUDOVHUDQLKU]XP HUVWHQPDO $Q]HLFKHQ HLQHU JHLVWLJHQ 6W|UXQJ ZDKUJHQRPPHQ KDWWH(UZDUGDPDOVEHLQDKLQ9HU]ZHLIOXQJJHUDWHQ8QGZLH KDWWH HU VLH QXU DOOHLQ ZHJODVVHQ N|QQHQ DOV VLH GDPDOV YRQ LKP]X5RJRVKLQJHIOFKWHW ZDU (U KlWWH LKU VHOEVW QDFKHLOHQ PVVHQVWDWWQXUDXI1DFKULFKWHQ]XZDUWHQ$EHUKDWGHQQ 5RJRVKLQ DQ LKU ELVKHU QRFK QLFKWV YRQ JHLVWLJHU 6W|UXQJ EHPHUNW" +P 5RJRVKLQ VLHKW LQ DOOHP DQGHUH 8UVDFKHQ YHUPXWHW DOV 8UVDFKHQ LPPHU /HLGHQVFKDIWHQ 8QG ZDV IU HLQH VLQQORVH (LIHUVXFKW :DV ZROOWH HU YRUKLQ PLW VHLQHU 9HUPXWXQJVDJHQ"'HU)UVWHUU|WHWHSO|W]OLFKXQGVHLQ+HU] ]XFNWH]XVDPPHQ $EHU ZHOFKHQ =ZHFN KDWWH HV VLFK DQ DOO GLHV ]X HULQQHUQ" 6LH ZDUHQ EHLGH VR JXW ZLH LUUVLQQLJ HU XQG 5RJRVKLQ $EHU IU LKQ GHQ )UVWHQ ZlUH HV EHLQDK HLQ 'LQJ GHU 8QP|JOLFKNHLW GLHVH )UDX OHLGHQVFKDIWOLFK ]X OLHEHQ HV ZlUH EHLQDKHLQH*UDXVDPNHLWHLQH8QPHQVFKOLFKNHLW-DMD1HLQ 5RJRVKLQ YHUOHXPGHW VLFK VHOEVW HU KDW HLQ JURHV +HU] GDV OHLGHQ XQG 0LWOHLG HPSILQGHQ NDQQ :HQQ HU GLH JDQ]H :DKUKHLW HUNHQQW XQG VLFK EHU]HXJW ZDV IU HLQ EHPLWOHLGHQVZHUWHV *HVFK|SI GLHVH JHLVWLJ JHVW|UWH KDOELUUH )UDX LVW ZLUG HU LKU GDQQ QLFKW DOOHV 9HUJDQJHQH DOOH VHLQH 4XDOHQ YHU]HLKHQ" :LUG HU QLFKW LKU 'LHQHU LKU %UXGHU LKU )UHXQG LKUH 9RUVHKXQJ ZHUGHQ" 'DV 0LWOHLG ZLUG LKQ ]XU (LQVLFKW EULQJHQ LKQ EHOHKUHQ 'DV 0LWOHLG LVW GDV ZLFKWLJVWH XQG YLHOOHLFKW GDV HLQ]LJH *HVHW] IU GLH ([LVWHQ] GHU JDQ]HQ 0HQVFKKHLW 2K LQ ZHOFKHU XQYHU]HLKOLFKHQ HKUORVHQ :HLVH KDWHUVLFK5RJRVKLQJHJHQEHUVFKXOGLJJHPDFKW1HLQQLFKW
GLH UXVVLVFKH 6HHOH LVW HLQ GXQNOHV 5lWVHO VRQGHUQ LQ VHLQHU HLJHQHQ6HHOHPXHLQGXQNOHV5lWVHOVHLQZHQQHUVLFKHWZDV VR 6FKUHFNOLFKHV YRUVWHOOHQ NDQQ :HJHQ HLQLJHU ZDUPHU KHU]OLFKHU:RUWHLQ0RVNDXQHQQWLKQ5RJRVKLQVFKRQVHLQHQ %UXGHU XQG HU $EHU GDV ZDU DOOHV .UDQNKHLW XQG )LHEHU 'DVZLUGVLFKDOOHV O|VHQ :LH ILQVWHU KDW 5RJRVKLQ YRUKLQ JHVDJWGDHUªVHLQHQ*ODXEHQYHUOLHUW©'LHVHU0HQVFKOHLGHW JHZLIXUFKWEDU(UVDJWGDHUªGLHVHV%LOGJHUQEHWUDFKWHW© DEHU JHUQ WXW HU HV ZRKO QLFKW VRQGHUQ HU HPSILQGHW HLQ %HGUIQLVGDQDFK5RJRVKLQLVWQLFKWQXUHLQHOHLGHQVFKDIWOLFKH 1DWXU HU LVW DXFK HLQ .lPSIHU HU ZLOO VHLQHQ YHUORUHQHQ *ODXEHQ PLW *HZDOW ZLHGHUJHZLQQHQ (U EHGDUI GLHVHV *ODXEHQVMHW]WGULQJHQGXQGYHUPLWLKQTXDOYROO±-DQXUDQ HWZDVJODXEHQ1XUDQMHPDQGJODXEHQ$EHUZLHVHOWVDPGRFK GLHVHV+ROEHLQVFKH%LOGLVW$KGDLVWMDGLH6WUDH8QGGD LVW JHZL DXFK GDV +DXV MD HV VWLPPW 1U ª+DXV GHU .ROOHJLHQVHNUHWlULQ )LOLVVRZD© +LHU 'HU )UVW NOLQJHOWH XQG IUDJWH QDFK 1DVWDVMD )LOLSSRZQD 'LH +DXVZLUWLQ GLH VHOEVW JH|IIQHW KDWWH DQWZRUWHWH LKP 1DVWDVMD )LOLSSRZQD VHL VFKRQ DP 0RUJHQ QDFK 3DZORZVN ]X 'DUMD $OH[HMHZQD JHIDKUHQ XQGHVN|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¾6HLHQ 6LH XQEHVRUJW LFK ZHL %HVFKHLG½ 'HU 1DPH GHV )UVWHQ PDFKWH DXI VLH DXJHQVFKHLQOLFKHLQHQVHKUVWDUNHQ(LQGUXFN'HU)UVWEOLFNWH VLH ]HUVWUHXW DQ ZHQGHWH VLFK XP XQG PDFKWH VLFK DXI GHQ
5FNZHJ QDFK VHLQHP *DVWKDXV $EHU HU ERW EHLP +LQDXVJHKHQQLFKWPHKUGDVVHOEH%LOGZLHLQGHP$XJHQEOLFN DOV HU EHL )UDX )LOLVVRZD JHNOLQJHOW KDWWH (V ZDU PLW LKP ZLHGHUXQG]ZDUJDQ]SO|W]OLFKHLQHVHKUJURH9HUlQGHUXQJ YRUJHJDQJHQ HU ZDU ZLHGHU EOD XQG VFKZDFK JHZRUGHQ EHIDQG VLFK LQ VWDUNHU $XIUHJXQJ XQG VFKULWW ZLH HLQ VFKZHU /HLGHQGHU HLQKHU GLH .QLH ]LWWHUWHQ LKP XQG HLQ PDWWHV YHUORUHQHV /lFKHOQ VSLHOWH XP VHLQH EOlXOLFK JHZRUGHQHQ /LSSHQ VHLQ ªSO|W]OLFKHU *HGDQNH© KDWWH VHLQH %HVWlWLJXQJ JHIXQGHQXQGVLFKDOVULFKWLJHUZLHVHQXQG±HUJODXEWHZLHGHU DQVHLQHQ'lPRQ $EHU KDWWH HU VHLQH %HVWlWLJXQJ JHIXQGHQ" +DWWH HU VLFK DOV ULFKWLJ HUZLHVHQ" :RGXUFK NDP ZLHGHU GLHVHV =LWWHUQ GLHVHU NDOWH6FKZHLGLHVHVHHOLVFKH)LQVWHUQLVXQG.lOWH"'DGXUFK GDHUVRHEHQZLHGHUGLHVH$XJHQJHVHKHQKDWWH"$EHUHUZDU MD DXV GHP 6RPPHUJDUWHQ HLQ]LJ XQG DOOHLQ LQ GHU $EVLFKW GRUWKLQ JHJDQJHQ VLH ZLHGHU]XVHKHQ 'DULQ KDWWH MD VHLQ ªSO|W]OLFKHU *HGDQNH© EHVWDQGHQ (U KDWWH HLQ GULQJHQGHV 9HUODQJHQYHUVSUWGLHVHª$XJHQYRQYRUKLQ©ZLHGHU]XVHKHQ XQG IHVW]XVWHOOHQ RE HU LKQHQ GRUW EHL GLHVHP +DXVH ZLHGHUEHJHJQHQ ZHUGH 'DV ZDU HLQ NUDPSIKDIWHV 9HUODQJHQ EHL LKP JHZHVHQ ZDUXP ZDU HU DOVR MHW]W VR EHVWU]W XQG QLHGHUJHVFKODJHQ GDUEHU GD HU VLH ZLUNOLFK VRHEHQ JHVHKHQ KDWWH"$OVREHUHVQLFKWHUZDUWHWKlWWH-DGDVZDUHQGLHVHOEHQ $XJHQ XQG GDUDQ GD HV GLHVHOEHQ ZDUHQ NRQQWH MHW]W QLFKW PHKUGHUJHULQJVWH=ZHLIHOEHVWHKHQ GLHLKQDP0RUJHQDXV GHU0HQVFKHQPHQJHDQJHIXQNHOWKDWWHQDOVHUDXVGHP:DJHQ GHU 1LNRODL%DKQ DXVJHVWLHJHQ ZDU GLHVHOEHQ JDQ] GLHVHOEHQ GHUHQ YRQ KLQWHQ DXI LKQ JHULFKWHWHQ %OLFN HU QDFKKHUDXIJHIDQJHQKDWWHDOVHUVLFKLQ5RJRVKLQV:RKQXQJ DXI HLQHQ 6WXKO VHW]WH 5RJRVKLQ KDWWH HV YRUKLQ DEJHVWULWWHQ ª:HVVHQ $XJHQ ZDUHQ GHQQ GDV"© KDWWH HU PLW HLQHP YHU]HUUWHQHLVLJHQ/lFKHOQJHIUDJW8QGQRFKYRUKLQDXIGHP =DUVNRMH6HOR%DKQKRI DOV HU LQ GHQ :DJHQ VWLHJ XP ]X
$JODMD]XIDKUHQXQGDXIHLQPDOZLHGHUVFKRQ]XPGULWWHQPDO DQ GLHVHP 7DJH GLHVH $XJHQ HUEOLFNWH KDWWH GHU )UVW GLH JU|WH /XVW JHKDEW ]X 5RJRVKLQ KHUDQ]XWUHWHQ XQG LKP ]X VDJHQ ªZHVVHQ $XJHQ© HV JHZHVHQ VHLHQ $EHU HU ZDU DXV GHP %DKQKRI ZHJJHODXIHQ XQG HUVW YRU GHP /DGHQ HLQHV 0HVVHUVFKPLHGHV ZLHGHU ]XU %HVLQQXQJ JHNRPPHQ LQ GHP $XJHQEOLFNDOVHUGRUWVWDQGXQGHLQHQ*HJHQVWDQGPLWHLQHP +LUVFKKRUQJULII DXI VHFK]LJ .RSHNHQ WD[LHUWH (LQ VHOWVDPHU VFKUHFNOLFKHU 'lPRQ KDWWH LKQ HQGJOWLJ JHSDFNW XQG ZROOWH LKQ QLFKW PHKU ORVODVVHQ 'LHVHU 'lPRQ KDWWH LKP LP 6RPPHUJDUWHQ DOV HU VHOEVWYHUJHVVHQ XQWHU HLQHU /LQGH VD ]XJHIOVWHUW ZHQQ 5RJRVKLQ HV IU VR Q|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lOOLJHV GDEHL GD HU WDWVl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lJJHJHQEHU LQ HLQHU (QWIHUQXQJ YRQ HWZD IQI]LJ 6FKULWWHQ PLW YHUVFKUlQNWHQ $UPHQ DXI GHP *HKVWHLJ JHVWDQGHQ XQG
JHZDUWHW+LHUZDUHUVFKRQ YROOVWlQGLJ VLFKWEDU JHZHVHQ XQG KDWWH GLHV DQVFKHLQHQG DXFK DEVLFKWOLFK JHZROOW (U KDWWH GDJHVWDQGHQ ZLH HLQ $QNOlJHU XQG HLQ 5LFKWHU XQG QLFKW ZLH MDQLFKWZLHZHU" $EHUZDUXPZDUGHQQHUGHU)UVWMHW]WQLFKWVHOEVWDQLKQ KHUDQJHJDQJHQ VRQGHUQ KDWWH VLFK YRQ LKP DEJHZDQGW DOV KlWWH HU QLFKWV EHPHUNW REZRKO GRFK LKUH %OLFNH HLQDQGHU EHJHJQHWZDUHQ"-DLKUH%OLFNHZDUHQHLQDQGHUEHJHJQHWXQG VLH KDWWHQ VLFK DQJHVHKHQ (U KDWWH MD VHOEVW YRUKLQ EHDEVLFKWLJW LKQ EHL GHU +DQG ]X QHKPHQ XQG PLW LKP ]XVDPPHQGRUWKLQ]XJHKHQ(UKDWWHMDVHOEVWPRUJHQ]XLKP JHKHQ XQG LKP VDJHQ ZROOHQ GD HU EHL LKU JHZHVHQ VHL (U KDWWHVLFKMDZlKUHQGHUQRFKGRUWKLQ JLQJDXI KDOEHP :HJ DOV DXI HLQPDO GLH )UHXGH VHLQH 6HHOH HUIOOWH VHOEVW YRQ VHLQHP'lPRQORVJHPDFKW2GHUODJLQ5RJRVKLQGDVKHLWLQ GHU JDQ]HQ KHXWLJHQ (UVFKHLQXQJ GLHVHV 0HQVFKHQ LQ GHU *HVDPWKHLW VHLQHU :RUWH %HZHJXQJHQ +DQGOXQJHQ XQG %OLFNH ZLUNOLFK HWZDV ZDV GLH VFKUHFNOLFKHQ $KQXQJHQ GHV )UVWHQ XQG GLH DXIUHJHQGHQ (LQIOVWHUXQJHQ VHLQHV 'lPRQV UHFKWIHUWLJHQ NRQQWH" (WZDV ZDV VLFK YRQ VHOEVW GHP $XJH DXIGUlQJW DEHU VFKZHU ]X GHILQLHUHQ XQG GDU]XOHJHQ XQG XQP|JOLFK PLW KLQUHLFKHQGHQ *UQGHQ ]X EHZHLVHQ LVW DEHU GRFK WURW] DOO GLHVHU 6FKZLHULJNHLW XQG 8QP|JOLFKNHLW HLQHQ VWDUNHQ XQZLGHUVWHKOLFKHQ (LQGUXFN PDFKW GHU XQZLOONUOLFK LQYROOHhEHU]HXJXQJEHUJHKW" (LQHhEHU]HXJXQJZRYRQ"2KZLHTXlOWHGHQ )UVWHQ GDV 8QJHKHXHUOLFKH ªGDV 8QZUGLJH© GLHVHU hEHU]HXJXQJ ªGLHVHU XQZUGLJHQ $KQXQJ© XQG ZLH NODJWH HU VLFK VHOEVW DQ ¾6DJHGRFKZHQQGXHVZDJVWZRYRQGXEHU]HXJWELVW½ VDJWH HUIRUWZlKUHQGYRUZXUIVYROOXQGKHUDXVIRUGHUQG]X VLFK VHOEVW ¾)RUPXOLHUH HV ZDJH HV GHLQHQ *HGDQNHQ YROOVWlQGLJ DXV]XVSUHFKHQGHXWOLFKJHQDXRKQH6FKZDQNHQ2KLFKELQ HLQ (KUORVHU½ VR VFKDOW HU VLFK LPPHU ZLHGHU YROO 8QZLOOHQ XQGPLW6FKDPU|WHLP*HVLFKW¾0LWZHOFKHQ$XJHQZHUGHLFK
MHW]W PHLQ JDQ]HV /HEHQ ODQJ GLHVHQ 0HQVFKHQ DQVHKHQ 2K ZDV LVW GDV IU HLQ 7DJ 2 *RWW ZHOFK HLQ EHNOHPPHQGHV *HIKO½ $P (QGH GLHVHV ODQJHQ TXDOYROOHQ :HJHV YRQ GHU 3HWHUVEXUJHU 6HLWH JDE HV HLQHQ $XJHQEOLFN ZR GHQ )UVWHQ DXIHLQPDOHLQXQEH]ZLQJOLFKHV9HUODQJHQHUJULIIVRIRUWQDFK 5RJRVKLQV:RKQXQJ]XJHKHQLKQGRUW]XHUZDUWHQLKQYROOHU 6FKDP PLW 7UlQHQ ]X XPDUPHQ LKP DOOHV ]X VDJHQ XQG GLH JDQ]H6DFKHPLWHLQHPPDO]X(QGH]XEULQJHQ$EHUHUVWDQG VFKRQYRUVHLQHP*DVWKRI:LHVHKUKDWWHLKPKHXWHIUKDXI GHQ HUVWHQ %OLFN GLHVHU *DVWKRI PLIDOOHQ GLHVH .RUULGRUH GLHVHV JDQ]H +DXV VHLQ HLJHQHV =LPPHU PHKUPDOV LP /DXIH GHV 7DJHV KDWWH HU VLFK PLW EHVRQGHUHP :LGHUZLOOHQ GDUDQ HULQQHUWGDHUZLHGHUGDKLQ]XUFNNHKUHQPVVH¾$EHUZDV LVWGHQQQXUPLWPLU",FKJODXEHMDKHXWHZLHHLQNUDQNHV:HLE DQ MHGH $KQXQJ½ GDFKWH HU QHUY|V XQG VS|WWLVFK ZlKUHQG HU LP 7RU VWHKHQEOLHE (LQ QHXHU XQHUWUlJOLFKHU $QIDOO YRQ 6FKDPJHIKO MD IDVW YRQ 9HU]ZHLIOXQJ KLHOW LKQ DXI VHLQHP 3ODW] GLUHNW DP (LQJDQJ LQ GHQ 7RUZHJ IHVWJHEDQQW (U EOLHE HLQHQ $XJHQEOLFN VWHKHQ 'DV LVW HLQH QLFKW VHOWHQH (UVFKHLQXQJ XQHUWUlJOLFKH SO|W]OLFKH (ULQQHUXQJHQ EHVRQGHUVZHQQVLHPLWGHP*HIKOGHU6FKDPYHUNQSIWVLQG ]ZLQJHQGLH0HQVFKHQHLQHQ$XJHQEOLFNDXIGHPVHOEHQ)OHFN VWHKHQ]XEOHLEHQ ¾-D LFK ELQ HLQ KHU]ORVHU 0HQVFK XQG HLQ )HLJOLQJ½VDJWHHUVLFKPLWGVWHUHU0LHQHXQGVHW]WHVLFKPLW HLQHP 5XFN ZLHGHU LQ %HZHJXQJ XP ZHLWHU]XJHKHQ DEHU HUEOLHEYRQQHXHPVWHKHQ ,Q GHP RKQHKLQ VHKU GXQNOHQ 7RUZHJ ZDU HV MHW]W JDQ] ILQVWHU GLH KHUDXIJH]RJHQH *HZLWWHUZRONH KDWWH GLH $EHQGKHOOHYHUVFKOXQJHQXQGJHUDGH]XGHU=HLWGDGHU)UVW VLFKGHP+DXVHQlKHUWH|IIQHWHVLFKGLH:RONHDXIHLQPDOXQG VFKWWHWHLKUHQ5HJHQKHUDE,QGHP$XJHQEOLFNDOVGHU)UVW VLFKQDFKNXU]HP6WHKHQEOHLEHQUXFNDUWLJZLHGHULQ%HZHJXQJ VHW]WHEHIDQGHUVLFKDP$QIDQJGHV7RUZHJVGDZRPDQYRQ
GHU6WUDHDXVLQGHQ7RUZHJHLQWUDW8QGSO|W]OLFKHUEOLFNWHHU LQ GHU 7LHIH GHV 'XUFKJDQJV LP +DOEGXQNHO GRUW ZR HV GLH 7UHSSHKLQDXIJLQJHLQHQ0DQQ'LHVHU0DQQVFKLHQDXIHWZDV ]XZDUWHQKXVFKWHDEHUVFKQHOOGDYRQXQGZDUYHUVFKZXQGHQ 'LHVHQ0HQVFKHQKDWWH GHU )UVW QLFKW GHXWOLFK VHKHQ N|QQHQ XQG KlWWH QLFKW PLW 6LFKHUKHLW VDJHQ N|QQHQ ZHU HV JHZHVHQ ZDU=XGHPNDPHQKLHUVRYLHOH0HQVFKHQYRUEHLHVZDUHEHQ HLQ*DVWKDXVXQGDXIGHQ.RUULGRUHQZDUHLQHZLJHV.RPPHQ XQG *HKHQ $EHU HU IKOWH DXI HLQPDO GLH YROOH XQG XQZLGHUOHJOLFKH hEHU]HXJXQJ GD HU GLHVHQ 0HQVFKHQ HUNDQQWKDWWHXQGGDGLHVHU0HQVFKEHVWLPPW5RJRVKLQZDU (LQHQ$XJHQEOLFNGDUDXI HLOWHGHU )UVWLKPQDFKGLH7UHSSH KLQDXI'DV+HU]VWDQGLKPVWLOO¾-HW]WZLUGVLFKVRJOHLFKDOOHV HQWVFKHLGHQ½VDJWHHUEHLVLFKVHOEVWPLWVHOWVDPHU6LFKHUKHLW 'LH7UHSSHGLHGHU)UVWYRP7RUZHJDXVKLQDXIOLHIIKUWH ]X GHQ .RUULGRUHQ GHV HUVWHQ XQG ]ZHLWHQ 6WRFNZHUNV DQ GHQHQGLH=LPPHUGHU+RWHOJlVWHODJHQ'LHVH7UHSSHZDUZLH LQDOOHQDOWHQ+lXVHUQYRQ6WHLQGXQNHOHQJXQGZDQGVLFK XPHLQHGLFNHVWHLQHUQH6lXOHKHUXP$XIGHPHUVWHQ$EVDW] EHIDQG VLFK LQ GHU 6lXOH HLQH QLVFKHQDUWLJH 9HUWLHIXQJ QLFKW PHKU DOV HLQHQ 6FKULWW EUHLW XQG HLQHQ KDOEHQ 6FKULWW WLHI (LQ 0HQVFKNRQQWHMHGRFKGDULQ3ODW]ILQGHQ:LHGXQNHOHVDXFK ZDUVRXQWHUVFKLHGGHU)UVWGRFKVRJOHLFKDOVHUGHQ$EVDW] HUUHLFKWHGDVLFKLQGLHVHU1LVFKHHLQ0HQVFKYHUVWHFNWKDWWH ,Q GHP )UVWHQ ZXUGH SO|W]OLFK GHU :XQVFK ZDFK YRUEHL]XJHKHQ XQG QLFKW QDFK UHFKWV ]X EOLFNHQ (U WDW QRFK HLQHQ 6FKULWW NRQQWH VLFK DEHU GRFK QLFKW EHKHUUVFKHQ XQG ZDQGWHVLFKXP 'LH ]ZHL $XJHQ YRQ YRUKLQ GLHVHOEHQ $XJHQ EHJHJQHWHQ DXI HLQPDO VHLQHP %OLFN 'HU 0HQVFK GHU LQ GHU 1LVFKH YHUERUJHQ JHZHVHQ ZDU ZDU LQ]ZLVFKHQ HEHQIDOOV HLQHQ 6FKULWW DXV LKU KHUDXVJHWUHWHQ (LQH 6HNXQGH ODQJ VWDQGHQ GLH EHLGHQHLQDQGHUJDQ]GLFKWJHJHQEHU3O|W]OLFKIDWHGHU)UVW GHQ DQGHUQ DQ GHQ 6FKXOWHUQ XQG GUHKWH LKQ XP QDFK GHU
7UHSSH ]X PHKU QDFK GHP /LFKW KLQ HU ZROOWH VHLQ *HVLFKW GHXWOLFKHUVHKHQ 5RJRVKLQV $XJHQ IXQNHOWHQ DXI XQG HLQ ZDKQVLQQLJHV /lFKHOQ HQWVWHOOWH VHLQ *HVLFKW 6HLQH UHFKWH +DQG IXKU LQ GLH +|KHXQGHVEOLW]WHHWZDVLQLKUGHP)UVWHQNDPHVQLFKWLQ GHQ 6LQQ VLH DXI]XKDOWHQ (U HULQQHUWH VLFK VSlWHU QXU GD HU JHUXIHQKDWWHª3DUIHQLFKNDQQHVQLFKWJODXEHQ© 'DQQZDU HV DOV RE VLFK DXI HLQPDO HWZDV YRU LKP |IIQHWH HLQ XQJHZ|KQOLFKHV LQQHUHV /LFKW HUKHOOWH VHLQH 6HHOH 'LHV GDXHUWH YLHOOHLFKW HLQH KDOEH 6HNXQGH DEHU HU HULQQHUWH VLFK GRFK GHXWOLFK XQG EHZXW DQ GHQ $QIDQJ DQ GHQ HUVWHQ /DXW HLQHV IXUFKWEDUHQ 6FKUHLHV GHU VLFK YRQ VHOEVW VHLQHU %UXVW HQWUDQJXQGGHQHUPLWNHLQHU$QVWUHQJXQJKlWWH]XUFNKDOWHQ N|QQHQ 'DQQ HUORVFK VHLQ %HZXWVHLQ XQG HV WUDW Y|OOLJH )LQVWHUQLVHLQ (U KDWWH HLQHQ HSLOHSWLVFKHQ $QIDOO EHNRPPHQ QDFKGHP GLHVH .UDQNKHLW LKQ VFKRQ VR ODQJH =HLW QLFKW PHKU KHLPJHVXFKW KDWWH %HNDQQWOLFK WUHWHQ GLH HSLOHSWLVFKHQ $QIlOOH QDPHQWOLFK GLH HLJHQWOLFKH )DOOVXFKW JDQ] SO|W]OLFK HLQ ,Q GLHVHP $XJHQEOLFNH YHU]HUUW VLFK DXI HLQPDO GDV *HVLFKW DXHURUGHQWOLFK XQG EHVRQGHUV GHU %OLFN ZLUG HQWVWHOOW .UlPSIH XQG =XFNXQJHQ HUJUHLIHQ GHQ JDQ]HQ .|USHU XQG DOOH *HVLFKWVPXVNHOQ (LQ IXUFKWEDUHU XQEHVFKUHLEOLFKHU XQG PLW QLFKWV ]X YHUJOHLFKHQGHU 6FKUHL ULQJW VLFK DXV GHU %UXVW LQ GLHVHP 6FKUHL YHUVFKZLQGHW VR]XVDJHQ DOOHV 0HQVFKOLFKH XQG HV LVW IU HLQHQ %HREDFKWHU XQP|JOLFKRGHUZHQLJVWHQVVHKUVFKZHUVLFKYRU]XVWHOOHQXQG ]X JODXEHQ GD GHUMHQLJH GHU GD VFKUHLW ZLUNOLFK QRFK GHU JOHLFKH0HQVFKLVW0DQNDQQVLFKGDEHLVRJDUHLQELOGHQGD HLQ DQGHUHU VFKUHLH GHU VLFK LP ,QQHUQ GLHVHV 0HQVFKHQ EHILQGH :HQLJVWHQV KDEHQ YLHOH GHQ HPSIDQJHQHQ (LQGUXFN VRJHVFKLOGHUWEHLYLHOHQUXIWGHU$QEOLFNHLQHV0HQVFKHQGHU HLQHQ HSLOHSWLVFKHQ $QIDOO GXUFKPDFKW XQHUWUlJOLFKHV (QWVHW]HQKHUYRUGDVVRJDUHWZDV0\VWLVFKHVDQVLFKKDW0DQ
PXDQQHKPHQGDHLQVROFKHV*HIKOSO|W]OLFKHQ(QWVHW]HQV LP 9HUHLQ PLW DOOHQ DQGHUQ VFKUHFNOLFKHQ (PSILQGXQJHQ GLHVHV$XJHQEOLFNV5RJRVKLQSO|W]OLFKDXIGHU6WHOOHHUVWDUUHQ OLH XQG GDGXUFK GHQ )UVWHQ YRU GHP VRQVW XQYHUPHLGOLFKHQ 6WR GHV EHUHLWV DXI LKQ KHUDEIDKUHQGHQ 0HVVHUV UHWWHWH $OV GDQQ5RJRVKLQVDKGDGHU)UVW]XUFNWDXPHOWHXQGSO|W]OLFK KLQWHQEHUILHOJHUDGHGLH7UHSSHKLQXQWHUZREHLHUPLWYROOHU :XFKW PLW GHP +LQWHUNRSI JHJHQ HLQH 6WHLQVWXIH VFKOXJ GD VWU]WH HU HKH HU QRFK =HLW JHIXQGHQ KDWWH EHU GHQ $QIDOO .ODUKHLW ]X JHZLQQHQ QDFK XQWHQ OLHI XP GHQ 'DOLHJHQGHQ KHUXP XQG UDQQWH IDVW RKQH %HVLQQXQJ DXV GHP *DVWKDXV KLQDXV ,QIROJH GHU .UlPSIH =XFNXQJHQ XQG GHV 8PVLFKVFKODJHQV UXWVFKWHGHU.|USHUGHV.UDQNHQGLH6WXIHQKLQDEGHUHQQLFKW PHKUDOVIQI]HKQZDUHQELV JDQ] ]XP )X GHU 7UHSSH 6HKU EDOG NDXP IQI 0LQXWHQ QDFKKHU ZXUGH GHU 'DOLHJHQGH EHPHUNWXQGHVVDPPHOWHVLFKXPLKQHLQH0HQJH0HQVFKHQ 'LH JURH %OXWODFKH GLH VLFK XP GHQ .RSI JHELOGHW KDWWH HUZHFNWH =ZHLIHO RE GLHVHU 0HQVFK VLFK VHOEVW YHUOHW]W KDEH RGHU ªHWZDV 6FKOLPPHV JHVFKHKHQ© VHL %DOG MHGRFK GXUFKVFKDXWHQ HLQLJH GD HV HLQ )DOO YRQ (SLOHSVLH ZDU XQG HLQHU GHU .HOOQHU HUNDQQWH LQ GHP )UVWHQ GHQ NU]OLFK HLQJHWURIIHQHQ*DVW'LH$XIUHJXQJNDPHQGOLFKLQIROJHHLQHV VHKUJOFNOLFKHQ8QLVWDQGHV]XU5XKH .ROMD ,ZROJLQ GHU LQ GHU ª:DDJH© KLQWHUODVVHQ KDWWH HU ZHUGH XP YLHU 8KU ]XUFN VHLQ XQG VWDWW GHVVHQ QDFK 3DZORZVNJHIDKUHQZDUKDWWHHVLQIROJHHLQHUhEHUOHJXQJGLH LKP SO|W]OLFK JHNRPPHQ ZDU DEJHOHKQW EHL GHU *HQHUDOLQ -HSDQWVFKLQD ]X VSHLVHQ ZDU QDFK 3HWHUVEXUJ ]XUFNJHIDKUHQ XQGQDFKGHU ª:DDJH©JHHLOWZRHUJHJHQVLHEHQ8KUDEHQGV HLQWUDI 1DFKGHP HU DXV GHP IU LKQ KLQWHUODVVHQHQ %LOOHWW HUVHKHQKDWWHGDGHU)UVWVLFKLQGHU6WDGWEHIDQGHLOWHHU]X GHU LKP LQ GHP %LOOHWW PLWJHWHLOWHQ $GUHVVH $OV HU LQ GHP *DVWKDXVHUIXKUGDGHU)UVWDXVJHJDQJHQZDUJLQJHUQDFK
XQWHQLQGLH5HVWDXUDWLRQVUlXPHXPGRUW]XZDUWHQOLHVLFK 7HH JHEHQ XQG K|UWH GHP 6SLHO GHV 2UFKHVWULRQV ]X =XIlOOLJ K|UWH HU HLQ *HVSUlFK EHU HLQHQ $QIDOO GHQ VRHEHQ MHPDQG EHNRPPHQ KDEH VWU]WH YRQ HLQHU ULFKWLJHQ $KQXQJ HUIOOW QDFKGHU6WHOOHKLQXQGHUNDQQWHGHQ)UVWHQ6RJOHLFKZXUGHQ DOOH HUIRUGHUOLFKHQ 0DUHJHOQ HUJULIIHQ 'HU )UVW ZXUGH LQ VHLQ =LPPHU JHWUDJHQ REJOHLFK HU ZLHGHU ]X VLFK JHNRPPHQ ZDU GDXHUWH HV GRFK VHKU ODQJH ELV HU GDV YROOH %HZXWVHLQ ]XUFNHUODQJWH (LQ $U]W GHU KHUEHLJHUXIHQ ZDU XP GHQ ]HUVFKODJHQHQ .RSI ]X XQWHUVXFKHQ YHURUGQHWH HLQ :XQGZDVVHU XQG HUNOlUWH GD GLH 9HUOHW]XQJHQ LQ NHLQHU :HLVH JHIlKUOLFK VHLHQ $OV GHU )UVW QDFK HLQHU 6WXQGH HQGOLFK DQILQJ VHLQH 8PJHEXQJ RUGHQWOLFK ]X HUNHQQHQ VFKDIIWH .ROMD LKQ LQ HLQHP :DJHQ DXV GHP *DVWKDXV ]X /HEHGHZ'LHVHUQDKPGHQ.UDQNHQPLWJURHU)UHXQGOLFKNHLW XQGYLHOHQ9HUEHXJXQJHQDXI(VZXUGHXPVHLQHWZLOOHQDXFK GHU 8P]XJ QDFK GHP /DQGKDXV EHVFKOHXQLJW XQG DP GULWWHQ 7DJEHIDQGHQVLFKDOOHVFKRQLQ3DZORZVN
9, /HEHGHZV/DQGKDXVZDUQLFKWJURDEHUEHTXHPXQGVRJDU KEVFK 'HU ]XP 9HUPLHWHQ EHVWLPPWH 7HLO ZDU EHVRQGHUV VFK|Q DXVJHVWDWWHW $XI GHU ]LHPOLFK JHUlXPLJHQ 9HUDQGD EHLP(LQJDQJYRQGHU6WUDHLQGLH:RKQXQJZDUHQPHKUHUH 2UDQJHQ XQG =LWURQHQElXPH XQG -DVPLQVWUlXFKHU LQ JURHQ JUQHQ +RO]NEHOQ DXIJHVWHOOW ZDV QDFK /HEHGHZV $QVLFKW HLQHQEHUDXVUHL]YROOHQ$QEOLFNERW(LQLJHGLHVHU*HZlFKVH KDWWH HU ]XJOHLFK PLW GHP /DQGKDXV HUZRUEHQ XQG ZDU YRQ GHP(IIHNWGHQVLHLQGHU9HUDQGDKHUYRUEUDFKWHQVRHQW]FNW
JHZHVHQ GD HU XQWHU %HQXW]XQJ HLQHU VLFK ELHWHQGHQ *HOHJHQKHLWEHVFKOR]XU9HUYROOVWlQGLJXQJQRFKHLQH$Q]DKO HEHQVROFKHU *HZlFKVH LQ .EHOQ DXI HLQHU $XNWLRQ ]X HUVWHKHQ$OVHQGOLFKDOOHGLHVH*HZlFKVHQDFKGHP/DQGKDXV JHVFKDIIW XQG DXIJHVWHOOW ZDUHQ OLHI /HEHGHZ PHKUPDOV DP 7DJH GLH 6WXIHQ GHU 9HUDQGD KLQDE DXI GLH 6WUDH XQG EHZXQGHUWHYRQGRUWDXVVHLQ%HVLW]WXPZREHLHUMHGHVPDOLP VWLOOHQGLH6XPPHHUK|KWHGLHHUGHPNQIWLJHQ0LHWHUVHLQHV /DQGKDXVHVDE]XYHUODQJHQJHGDFKWH'HP)UVWHQGHULQIROJH GHUVHHOLVFKHQ/HLGHQXQGGHUSK\VLVFKHQ$EJHVSDQQWKHLWVHKU VFKZDFK ZDU JHILHO GDV /DQGKDXV DXVQHKPHQG hEULJHQV VDK GHU)UVWDP7DJHGHV8P]XJHVQDFK3DZORZVNGDVKHLWDP GULWWHQ7DJHQDFKGHP$QIDOOl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lQGHUW XQG ZDU DEJHPDJHUW 'DUDXI ZDUHQ :DUMD XQG 3WL]\Q HUVFKLHQHQ GLH HEHQIDOOV LQ 3DZORZVN ]XU 6RPPHUIULVFKH ZRKQWHQ 'HU *HQHUDO ,ZROJLQ GHU VLFK EHL /HEHGHZ IDVW IU LPPHU HLQTXDUWLHUW KDWWH VFKLHQ VRJDU PLW LKP ]XVDPPHQ XPJH]RJHQ]XVHLQ/HEHGHZEHPKWHVLFKLKPGHQ=XWULWW]X GHP )UVWHQ ]X YHUZHKUHQ XQG LKQ EHL VLFK IHVW]XKDOWHQ HU YHUNHKUWH PLW LKP IUHXQGVFKDIWOLFK VLH ZDUHQ DQVFKHLQHQG VFKRQODQJHPLWHLQDQGHUEHNDQQW'HU)UVWEHPHUNWHGDVLH DQ GLHVHQ JDQ]HQ GUHL 7DJHQ PDQFKPDO PLWHLQDQGHU ODQJH *HVSUlFKHIKUWHQQLFKWVHOWHQVFKULHQXQGVWULWWHQVRJDUZLH
HV VFKLHQ EHU ZLVVHQVFKDIWOLFKH *HJHQVWlQGH ZDV RIIHQEDU /HEHGHZJURHV9HUJQJHQPDFKWH0DQNRQQWHPHLQHQGD LKP GHU *HQHUDO IU GLHVH 'LVSXWDWLRQHQ XQHQWEHKUOLFK ZDU $EHU /HEHGHZ GHKQWH GLH 9RUVLFKWVPDUHJHOQ GLH HU DXI GHQ *HQHUDO DQZDQGWH VHLW GHU hEHUVLHGOXQJ QDFK GHP /DQGKDXV DXFK DXI VHLQH )DPLOLH DXV PLW GHU %HJUQGXQJ GHU )UVW GUIHQLFKW JHVW|UWZHUGHQ OLH HU QLHPDQG ]X LKP VREDOG HU QXU LP HQWIHUQWHVWHQ 9HUGDFKW VFK|SIWH GD VHLQH 7|FKWHU :HUD PLW GHP .LQG QLFKW DXVJHQRPPHQ QDFK GHU 9HUDQGD JHKHQ ZROOWHQ ZR VLFK GHU )UVW EHIDQG VWU]WH HU VRIRUW DXI VLH ORV WUDPSHOWH PLW GHQ )HQ XQG MDJWH VLH IRUW WURW] DOOHU %LWWHQGHV)UVWHQMHGHUPDQQ]XLKP]XODVVHQ ª(UVWHQV K|UW VRQVW DOOHU 5HVSHNW DXI ZHQQ PDQ LKQHQ GHUJOHLFKHQ JHVWDWWHW XQG ]ZHLWHQV VFKLFNW HV VLFK DXFK QLFKW IU VLH © HUNOlUWH HU VFKOLHOLFK DXI HLQH GLUHNWH )UDJH GHV )UVWHQ ª$EHUZDUXPGHQQ"©HUZLGHUWHGHU)UVW ª:LUNOLFK 6LH TXlOHQ PLFK PLW DOO GLHVHU %HDXIVLFKWLJXQJ XQG %HZDFKXQJ ,FK KDEH ,KQHQ VFKRQ PHKUPDOV JHVDJW GD HV PLUODQJZHLOLJLVWDOOHLQ]XVHLQXQG6LHVHOEVWPDFKHQPLFK GXUFK ,KU EHVWlQGLJHV *HVWLNXOLHUHQ XQG 8PKHUJHKHQ DXI GHQ =HKHQQRFKVFKZHUPWLJHU© 'HU )UVW VSLHOWH GDUDXI DQ GD /HEHGHZ REZRKO HU DOOH VHLQH $QJHK|ULJHQ ZHJHQ GHU DQJHEOLFKHQ 5XKHEHGUIWLJNHLW GHV.UDQNHQZHJWULHEGRFKVHOEVWZlKUHQGGLHVHUJDQ]HQGUHL 7DJH DOOH $XJHQEOLFNH ]XP )UVWHQ KHUHLQNDP XQG MHGHVPDO ]XQlFKVW GLH 7U |IIQHWH GHQ .RSI KHUHLQVWHFNWH VLFK LP =LPPHUXPVDK DOVREHUIHVWVWHOOHQZROOWHREGHU)UVWDXFK QRFK GD VHL XQG QLFKW GDYRQJHODXIHQ ZlUH XQG GDQQ DXI GHQ =HKHQ ODQJVDP PLW VFKOHLFKHQGHQ 6FKULWWHQ VLFK GHVVHQ /HKQVWXKO QlKHUWH VR GD HU VHLQHQ 0LHWHU PDQFKPDO XQYHUVHKHQV HUVFKUHFNWH )RUWZlKUHQG HUNXQGLJWH HU VLFK RE GHU )UVW HWZDV EUDXFKH XQG ZHQQ GHU )UVW LKP HQGOLFK EHPHUNWHHUP|JHLKQLQ5XKHODVVHQVRPDFKWHHUJHKRUVDP XQG RKQH HLQ :RUW ]X HUZLGHUQ NHKUW JLQJ ZLHGHU DXI GHQ
=HKHQ ]XU 7U ]XUFN XQG JHVWLNXOLHUWH ZlKUHQG HU JLQJ GLH JDQ]H=HLWDOVZROOWHHU]XYHUVWHKHQJHEHQHUVHLQXUVRRKQH EHVRQGHUH $EVLFKW KHUHLQJHNRPPHQ ZHUGH NHLQ :RUW ZHLWHU UHGHQ JHKH MD VFKRQ ZLHGHU KLQDXV XQG ZHUGH QLFKW PHKU ZLHGHUNRPPHQDEHUQLFKWVGHVWRZHQLJHUHUVFKLHQHUQDFK]HKQ 0LQXWHQRGHUK|FKVWHQVHLQHU9LHUWHOVWXQGHYRQQHXHP.ROMD GHUIUHLHQ=XWULWW]XP)UVWHQKDWWHHUUHJWHGDGXUFK/HEHGHZV K|FKVWHV 0LIDOOHQ MD GLHVHU IKOWH VLFK VRJDU VFKZHU JHNUlQNW .ROMD PHUNWH GD /HEHGHZ PDQFKPDO HLQH KDOEH 6WXQGH ODQJ DQ GHU 7U VWDQG XQG KRUFKWH ZDV HU PLW GHP )UVWHQ VSUDFK XQG WHLOWH GLHVH VHLQH %HREDFKWXQJ QDWUOLFK GHP )UVWHQ PLW ª$EHU 6LH KDOWHQ PLFK MD KLQWHU 6FKOR XQG 5LHJHOZLHZHQQ6LHPLFKDOV,KU(LJHQWXPHUZRUEHQKlWWHQ© SURWHVWLHUWHGHU)UVWª:HQLJVWHQVDXIGHP/DQGHP|FKWHLFK HV DQGHUV KDEHQ ODVVHQ 6LH HV VLFK JHVDJW VHLQ GD LFK HPSIDQJHQ ZHUGH ZHQ LFK ZLOO XQG JHKHQ ZHUGH ZRKLQ HV PLU EHOLHEW© ª2KQH GHQ DOOHUJHULQJVWHQ =ZHLIHO© YHUVHW]WH /HEHGHZOHEKDIWJHVWLNXOLHUHQG 'HU)UVWEHWUDFKWHWHLKQDXIPHUNVDPYRP.RSIELV]XGHQ )HQ ª:LH LVW GDV /XNMDQ 7LPRIHMHZLWVFK" +DEHQ 6LH ,KU 6FKUlQNFKHQGDVLQ,KUHU:RKQXQJEHUGHP.RSIHQGH,KUHV %HWWHV DQ GHU :DQG EHIHVWLJW ZDU KLHUKHU PLWJHEUDFKW"© ª1HLQGDVKDEHLFKQLFKWJHWDQ© ª+DEHQ6LHHVZLUNOLFKGRUW JHODVVHQ"© ª(V ZDU QLFKW P|JOLFK HV PLW]XQHKPHQ LFK KlWWH HVDXVGHU:DQGKHUDXVEUHFKHQPVVHQ(VVLW]WJDQ]IHVW© ª$EHU YLHOOHLFKW KDEHQ 6LH KLHU HLQ HEHQVROFKHV"© ª6RJDU HLQ EHVVHUHV VRJDU HLQ EHVVHUHV LFK KDEH HV PLW GHP /DQGKDXV JHNDXIW©ª$FKVR:HPKDEHQ6LHGHQQYRUKLQGHQ=XWULWW]X PLUYHUZHKUW"6RHWZDYRUHLQHU6WXQGH"©ª'DVGDVZDUGHU *HQHUDO ,FK KDEH LKQ DOOHUGLQJV QLFKW KHUHLQJHODVVHQ XQG HU SDW DXFK ZLUNOLFK QLFKW ]X ,KQHQ ,FK VFKlW]H GLHVHQ 0DQQ VHKUKRFK)UVWHUHULVWHLQEHGHXWHQGHU0HQVFKJODXEHQ 6LH HV HWZD QLFKW" 1D VHKHQ 6LH DEHU WURW]GHP WURW]GHP ZlUHHVGDVEHVWHGXUFKODXFKWLJVWHU)UVWZHQQ6LHLKQQLFKW
HPSIDQJHQ ZROOWHQ© ª$EHU ZDUXP GHQQ QLFKW P|FKWH LFK GRFKIUDJHQ8QGZDUXPVWHKHQ6LHGHQQMHW]WDXIGHQ=HKHQ /HEHGHZXQGNRPPHQLPPHU]XPLUDOVZROOWHQ6LHPLUHLQ *HKHLPQLVLQV2KUVDJHQ"©ª,FKELQHLQJHPHLQHU0HQVFKHLQ JHPHLQHU 0HQVFK GDV IKOH LFK© DQWZRUWHWH /HEHGHZ ]LHPOLFKXQPRWLYLHUWXQGVFKOXJVLFK DIIHNWYROO DXI GLH %UXVW ª$EHU ZLUG GHU *HQHUDO IU 6LH QLFKW JDU ]X JDVWIUHXQGOLFK VHLQ"© ª:LHVR JDU ]X JDVWIUHXQGOLFK"© ª(U LVW VHKU IU *DVWIUHXQGVFKDIW (UVWHQV ULFKWHW HU VLFK EHL PLU VFKRQ JDQ] KlXVOLFK HLQ QXQ GDV PDJ QRFK DQJHKHQ DEHU HU LVW XQWHUQHKPHQGXQGGULQJWJOHLFKLQGLH9HUZDQGWVFKDIWHLQ(U XQG LFK ZLU KDEHQ VFKRQ PHKUPDOV XQVHUH )DPLOLHQ YHUKlOWQLVVHXQWHUVXFKWXQGHVKDWVLFKKHUDXVJHVWHOOWGDZLU PLWHLQDQGHU YHUZDQGW VLQG 8QG QRFK JHVWHUQ KDW HU PLU DXVHLQDQGHUJHVHW]W HV ODVVH VLFK DXFK EHZHLVHQ GD 6LH PWWHUOLFKHUVHLWV HLQ HQWIHUQWHU 1HIIH YRQ LKP VHLHQ :HQQ DOVR6LHVHLQ1HIIHVLQGGDQQVLQGDXFKZLUEHLGH6LHXQGLFK PLWHLQDQGHU YHUZDQGW GXUFKODXFKWLJVWHU )UVW 'DV LVW MD QXQ QRFKQLFKWV6FKOLPPHVHLQHNOHLQH6FKZlFKHDEHUVRHEHQKDW HUPLUYHUVLFKHUWGDHUVHLQJDQ]HV/HEHQODQJYRQGHU=HLW DQZRHUQRFK)lKQULFKZDUELV]XPHOIWHQ-XQLGHVYRULJHQ -DKUHV WlJOLFK QLFKW ZHQLJHU DOV ]ZHLKXQGHUW 3HUVRQHQ DQ VHLQHP 7LVFK VLW]HQ JHKDEW KDEH (V VHL VFKOLHOLFK VR ZHLW JHNRPPHQGDVLHJDUQLFKWPHKUDXIJHVWDQGHQVHLHQVRQGHUQ WlJOLFK IQI]HKQ 6WXQGHQ ODQJ ]X 0LWWDJ XQG ]X $EHQG JHVSHLVWXQG7HHJHWUXQNHQKlWWHQXQGGDVDOOHVGUHLLJ-DKUH ODQJ RKQH GLH JHULQJVWH 8QWHUEUHFKXQJ HV VHL NDXP =HLW JHZHVHQ GDV 7LVFKWXFK ]X ZHFKVHOQ 'HU HLQH VHL DXIJHVWDQGHQ XQG ZHJJHJDQJHQ XQG HLQ DQGHUHU JHNRPPHQ XQG DQ GHQ SDWULRWLVFKHQ )HVWWDJHQ VHL GLH =DKO VHLQHU *lVWH DXI GUHLKXQGHUW JHVWLHJHQ 8QG EHL GHU WDXVHQGMlKULJHQ -XELOlXPVIHLHU5XODQGVKDEHHUVLHEHQKXQGHUWJH]lKOW'DVLVW MD VFKUHFNOLFK VROFKH (U]lKOXQJHQ VLQG HLQ VHKU EOHV 6\PSWRP VR JDVWIUHXQGOLFKH +HUUHQ DXFK QXU ]X HPSIDQJHQ
LVWEHGHQNOLFKXQGGDKDEHLFKPLUJHGDFKWREHUQLFKWIU6LH XQGIUPLFKGRFKJDU]XJDVWIUHXQGOLFKLVW©ª$EHU6LHVWHKHQ ZLHHVVFKHLQWPLWLKPDXIVHKUJXWHP)X"©ª:LUYHUNHKUHQ PLWHLQDQGHU ZLH %UGHU XQG LFK IDVVH DOOHV DOV 6FKHU] DXI 0|JHQ ZLU PLWHLQDQGHU YHUZDQGW VHLQ ZDV VFKDGHW HV PLU" 'DV NDQQ PLU QXU ]XU (KUH JHUHLFKHQ ,FK KDOWH LKQ IU HLQHQ K|FKVW LQWHUHVVDQWHQ 0HQVFKHQ WURW] GHU ]ZHLKXQGHUW 7LVFKJlVWH XQG GHU QRFK JU|HUHQ =DKO EHL GHU 7DXVHQGMDKUIHLHU5XODQGV ,FKUHGH]X ,KQHQ JDQ]DXIULFKWLJ 6LHVSUDFKHQVRHEHQYRQ*HKHLPQLVVHQ)UVWXQGVDJWHQLFK WUlWHLPPHU]X,KQHQKHUDQDOVZROOWHLFK,KQHQHLQ*HKHLPQLV PLWWHLOHQ QXQ HV WULIIW VLFK GD ZLUNOLFK HLQ *HKHLPQLV YRUOLHJWHLQHJHZLVVH3HUVRQKDWPLUVRHEHQPLWJHWHLOWGDVLH VHKU ZQVFKH PLW ,KQHQ HLQH JHKHLPH =XVDPPHQNXQIW ]X KDEHQ©ª:DUXPGHQQHLQHJHKHLPH"'HU+HLPOLFKNHLWEHGDUI HV QLFKW ,FK ZHUGH VHOEVW ]X LKU KLQJHKHQ ZRP|JOLFK JOHLFK KHXWH© ª*HZL GHU +HLPOLFKNHLW EHGDUI HV JDU QLFKW© YHUVHW]WH /HEHGHZJHVWLNXOLHUHQGª$XFKIUFKWHWVLHJDUQLFKWGDVZDV 6LHYHUPXWHQhEULJHQVGHU8QPHQVFKNRPPWMHGHQ7DJKHU XP VLFK QDFK ,KUHP %HILQGHQ ]X HUNXQGLJHQ LVW ,KQHQ GDV EHNDQQW"© ª6LH QHQQHQ LKQ VR RIW HLQHQ 8QPHQVFKHQ GDV LVW PLU VHKU YHUGlFKWLJ© ª6LH EUDXFKHQ JDU NHLQHQ 9HUGDFKW ]X KDEHQ QLFKW GHQ JHULQJVWHQ 9HUGDFKW© ZHKUWH /HEHGHZ HLOLJ DE ª,FK ZROOWH ,KQHQ QXU EHPHUNHQ GD GLH EHWUHIIHQGH 3HUVRQ VLFK QLFKW YRU LKP VRQGHUQ YRU HLQHP JDQ] DQGHUQ IUFKWHW© ª$EHU YRU ZHP GHQQ" 6DJHQ 6LH HV GRFK VFKQHOO© ULHI GHU )UVW XQJHGXOGLJ DQJHVLFKWV GHU JHKHLPQLVYROOHQ *ULPDVVHQ/HEHGHZVª'DVLVWHEHQGDV*HKHLPQLV© 'DEHLOlFKHOWH/HEHGHZª:HVVHQ*HKHLPQLV"©ª'DVLVW,KU *HKHLPQLV 6LH VHOEVW KDEHQ PLU YHUERWHQ GXUFKODXFKWLJVWHU )UVW LQ ,KUHU *HJHQZDUW GDYRQ ]X VSUHFKHQ © PXUPHOWH /HEHGHZ XQG QDFKGHP HU VLFK JHQXJ GDUDQ JHZHLGHW KDWWH GD HV LKP JHOXQJHQ ZDU GLH 1HXJLHU VHLQHV =XK|UHUV ELV ]X
SHLQOLFKHU 8QJHGXOG ]X VWHLJHUQ VFKOR HU SO|W]OLFK ª6LH IUFKWHWVLFKYRU$JODMD,ZDQRZQD© 'HU )UVW PDFKWH HLQ ILQVWHUHV *HVLFKW XQG VFKZLHJ HLQHQ $XJHQEOLFN ª%HL *RWW /HEHGHZ LFK ZHUGH ,KU /DQGKDXV YHUODVVHQ© VDJWH HU SO|W]OLFK ª:R VLQG *DZULOD $UGDOLRQRZLWVFKXQG3WL]\QV"%HL,KQHQ"$XFKGLHKDEHQ6LH LQ ,KUH HLJHQHQ =LPPHU KHUEHUJHORFNW© ª6LH ZHUGHQ NRPPHQ VLH ZHUGHQ NRPPHQ 6RJDU GHU *HQHUDO ZLUG PLWNRPPHQ $OOH 7UHQ ZHUGH LFK DXIPDFKHQ DXFK PHLQH 7|FKWHUZHUGHLFKKHUUXIHQDOOHDOOHVRIRUWVRIRUW© IOVWHUWH /HEHGHZ HUVFKURFNHQ XQWHU OHEKDIWHQ +DQGEHZHJXQJHQ XQG UDQQWHGDEHLYRQHLQHU7U]XUDQGHUQ ,Q GLHVHP $XJHQEOLFN HUVFKLHQ .ROMD YRQ GHU 6WUDH NRPPHQGLQGHU9HUDQGDXQGPHOGHWHGDKLQWHULKP%HVXFK IROJH/LVDZHWD3URNRIMHZQDPLWLKUHQGUHL7|FKWHUQª6ROOLFK 3WL]\QVXQG*DZULOD$UGDOLRQRZLWVFKKHUHLQODVVHQRGHUQLFKW" 6ROOLFKGHQ*HQHUDOKHUHLQODVVHQRGHUQLFKW"©IUDJWH/HEHGHZ KDVWLJGXUFKGLHVH1DFKULFKWDXIVK|FKVWHEHUUDVFKWª:DUXP GHQQ QLFKW" /DVVHQ 6LH MHGHQ HLQ GHU ]X PLU ZLOO ,FK NDQQ ,KQHQ VDJHQ /HEHGHZ GD 6LH PHLQ 9HUKlOWQLV ]X GHQ 0HQVFKHQ JOHLFK YRQ $QIDQJ DQ IDOVFK EHXUWHLOW KDEHQ 6LH VLQGGDIRUWZlKUHQGLQHLQHP ,UUWXPEHIDQJHQ ,FKKDEHQLFKW GHQ JHULQJVWHQ *UXQG PLFK YRU LUJHQG MHPDQG ]X YHUVWHFNHQ XQG]XYHUEHUJHQ©EHPHUNWHGHU)UVWODFKHQG $OV/HEHGHZLKQODFKHQVDKKLHOWHUHVIUVHLQH3IOLFKWGLHV HEHQIDOOV ]X WXQ 7URW] VHLQHU JURHQ $XIUHJXQJ ZDU HU RIIHQEDUVHKU]XIULHGHQ 'LH YRQ .ROMD JHEUDFKWH 1DFKULFKW HUZLHV VLFK DOV ]XWUHIIHQG HU ZDU GHQ -HSDQWVFKLQV QXU HLQ SDDU 6FKULWWH YRUDXVJHODXIHQ XP VLH DQ]XPHOGHQ XQG GLH %HVXFKHU HUVFKLHQHQQXQSO|W]OLFKYRQEHLGHQ6HLWHQYRQGHU6WUDHKHU -HSDQWVFKLQV XQG DXV GHQ =LPPHUQ GDV 3WL]\QVFKH (KHSDDU *DQMDXQG*HQHUDO,ZROJLQ
-HSDQWVFKLQVKDWWHQYRQGHU.UDQNKHLWGHV)UVWHQXQGVHLQHU $QZHVHQKHLW LQ 3DZORZVN HUVW VRHEHQ GXUFK .ROMD HUIDKUHQ ELV GDKLQ KDWWH GLH *HQHUDOLQ VFKZHUH =ZHLIHO JHKHJW 6FKRQ YRU GUHL 7DJHQ KDWWH GHU *HQHUDO VHLQHU )DPLOLH GLH 9LVLWHQNDUWHGHV)UVWHQJH]HLJWGLHVH.DUWHULHIEHL/LVDZHWD 3URNRIMHZQDGLHEHVWLPPWHhEHU]HXJXQJKHUYRUGDGHU)UVW VHOEVW XQPLWWHOEDU QDFK GLHVHU .DUWH QDFK 3DZORZVN NRPPHQ ZHUGHXP LKQHQ HLQHQ %HVXFK ]X PDFKHQ 9HUJHEHQV KLHOWHQ LKUGLH7|FKWHUHQWJHJHQGDMHPDQGGHUHLQKDOEHV-DKUODQJ QLFKW JHVFKULHEHQ KDEH HV DXFK MHW]W YLHOOHLFKW JDU QLFKW VR HLOLJ KDEHQ ZHUGH XQG GD HU YLHOOHLFKW DXFK DEJHVHKHQ YRQ GHQ %H]LHKXQJHQ ]X LKUHU )DPLOLH LQ 3HWHUVEXUJ YLHO ]X WXQ KDEHQ P|JH ZRKHU N|QQWHQ VLH GHQQ YRQ VHLQHQ *HVFKlIWHQ .HQQWQLV KDEHQ" 'LH *HQHUDOLQ ZXUGH EHU GLHVH %HPHUNXQJ JHUDGH]X E|VH XQG ERW HLQH :HWWH GDUDXI DQ GD GHU )UVW VSlWHVWHQVDPIROJHQGHQ7DJHUVFKHLQHQZHUGHZLHZRKODXFK GDV VFKRQ VHKU VSlW VHL $P IROJHQGHQ 7DJ ZDUWHWH VLH GHQ JDQ]HQ 9RUPLWWDJ GDQQ HUZDUWHWH VLH LKQ ]XP 0LWWDJHVVHQ ]XP $EHQG XQG DOV HV VFKRQ JDQ] GXQNHO JHZRUGHQ ZDU lUJHUWH VLFK /LVDZHWD 3URNRIMHZQD EHU DOOHV XQG MHGHV XQG ]DQNWH VLFK PLW DOOHQ VHOEVWYHUVWlQGOLFK RKQH XQWHU GHQ *UQGHQGHV6WUHLWHVGHQ)UVWHQDXFKQXUPLWHLQHP:RUWH]X HUZlKQHQ $XFK DP GULWWHQ 7DJ ZXUGH VHLQHU NHLQHUOHL (UZlKQXQJ JHWDQ $OV $JODMD VLFK EHLP 0LWWDJHVVHQ XQYHUVHKHQV GLH %HPHUNXQJ HQWVFKOSIHQ OLH PDPDQ VHL lUJHUOLFK ZHLO GHU )UVW QLFKW NRPPH ZRUDXI GHU *HQHUDO VRIRUW HLQVFKDOWHWH HU IU VHLQH 3HUVRQ N|QQH QLFKWV GDIU VWDQG /LVDZHWD 3URNRIMHZQD DXI XQG JLQJ ]RUQLJ KLQDXV (QGOLFK DP $EHQG HUVFKLHQ .ROMD PLW HLQHU 0HQJH YRQ 1DFKULFKWHQ XQG HU]lKOWH LKQHQ DOOH (UOHEQLVVH GHV )UVWHQ VRZHLWVLHLKPEHNDQQWZDUHQ'DV5HVXOWDWZDUGD/LVDZHWD 3URNRIMHZQD WULXPSKLHUWH .ROMD ZXUGH DEHU JHK|ULJ DXVJHVFKROWHQ ª6RQVW KRFNW HU KLHU WDJHODQJ EHL XQV XQG LVW QLFKW ORV]XZHUGHQ XQG MHW]W KDW HU XQV QLFKW HLQPDO HLQH
0LWWHLOXQJ ]XJHKHQ ODVVHQ ZHQQ HU VFKRQ VHOEVW QLFKW KHUNRPPHQPRFKWH©.ROMDZROOWHHLJHQWOLFKVRIRUWZHJHQGHV $XVGUXFNV ªQLFKW ORV]XZHUGHQ© DXIEHJHKUHQ YHUVFKRE GLHV DEHUGRFK DXI HLQ DQGHUHV 0DO XQG ZHQQ GHU $XVGUXFN QLFKW JDU ]X EHOHLGLJHQG JHZHVHQ ZlUH KlWWH HU LKQ YLHOOHLFKW JDQ] HQWVFKXOGLJW VRYLHO 9HUJQJHQ PDFKWH LKP /LVDZHWD 3URNRIMHZQDV $XIUHJXQJ XQG 8QUXKH EHL GHU 1DFKULFKW YRQ GHU .UDQNKHLW GHV )UVWHQ 6LH EHVWDQG HLQH JDQ]H :HLOH GDUDXI PDQ PVVH XQYHU]JOLFK HLQHQ H[SUHVVHQ %RWHQ QDFK 3HWHUVEXUJVFKLFNHQXPHLQHlU]WOLFKH.DSD]LWlWHUVWHQ5DQJHV DXI]XVXFKHQ XQG PLW GHP HUVWHQ =XJ KHUEHL]XVFKDIIHQ $EHU GLH 7|FKWHU UHGHWHQ LKU GDV DXV LQGHV ZROOWHQ VLH KLQWHU LKUHU 0DPDQLFKW]XUFNVWHKHQDOVGLHVHVLFKVRIRUWDQVFKLFNWHGHQ .UDQNHQ]XEHVXFKHQª(UOLHJWDXIGHP6WHUEHEHWW©VDJWHVLH VLFK HLOLJ ]XUHFKWPDFKHQG ªZLH ZHUGHQ ZLU XQV GD XP 9RUVFKULIWHQ GHU (WLNHWWH NPPHUQ ,VW HU HLQ )UHXQG XQVHUHV +DXVHV RGHU QLFKW"© ª$QGHUHUVHLWV LVW HV DXFK QLFKW SDVVHQG VLFKMHPDQGHPVRRKQHZHLWHUHVDXI]XGUlQJHQ©ZROOWH$JODMD HLQZHQGHQ ª1D GDQQ NRPP QLFKW PLW 'DV ZLUG VRJDU JDQ] JXW VHLQ VRQVW LVW QLHPDQG KLHU XP -HZJHQLM 3DZO\WVFK ]X HPSIDQJHQZHQQHUNRPPHQVROOWH© 1DFKGLHVHQ:RUWHQVFKORVLFK$JODMDQDWUOLFKVRIRUWGHQ DQGHUQDQZDVVLHEULJHQVRKQHKLQEHDEVLFKWLJWKDWWH )UVW6FKWVFKGHUVLFKPLW$GHODLGDXQWHUKLHOWHUNOlUWHVLFK DXIGHUHQ%LWWHXQYHU]JOLFKEHUHLWGLH'DPHQ]XEHJOHLWHQ(U KDWWH VFKRQ IUKHU ]X $QIDQJ VHLQHU %HNDQQWVFKDIW PLW -HSDQWVFKLQVJURHV,QWHUHVVHEHNXQGHWDOVHUYRQLKQHQHWZDV EHUGHQ)UVWHQJHK|UWKDWWH(VKDWWHVLFKKHUDXVJHVWHOOWGD HU PLW GLHVHP %HUHLWV EHNDQQW ZDU XQG ]ZDU KDWWHQ VLH HLQDQGHU YRU QLFKW DOO]X ODQJHU =HLW LUJHQGZR NHQQHQJHOHUQW XQG GDQQ XQJHIlKU YLHU]HKQ 7DJH ODQJ ]XVDPPHQ LQ LUJHQGHLQHQ NOHLQHQ 6WlGWFKHQ JHOHEW 'DV ZDU YRU GUHL 0RQDWHQ JHZHVHQ )UVW 6FKWVFK KDWWH LKQHQ VRJDU YLHO YRQ GHP)UVWHQHU]lKOWXQGVLFKEHUKDXSWVHKUV\PSDWKLVFKEHU
LKQDXVJHVSURFKHQVRGDHUMHW]WPLWDXIULFKWLJHP9HUJQJHQ KLQJLQJ XP HLQHQ DOWHQ %HNDQQWHQ ]X EHVXFKHQ 'HU *HQHUDO ,ZDQ )MRGRURZLWVFK ZDU GLHVPDO QLFKW ]X +DXVH -HZJHQLM 3DZORZLWVFKZDUHEHQIDOOVQRFKQLFKWJHNRPPHQ 9RQ GHP -HSDQWVFKLQVFKHQ /DQGKDXVH ELV ]X GHP /HEH± GHZVFKHQ ZDUHQ HV QXU GUHLKXQGHUW 6FKULWWH 'HU HUVWH XQDQJHQHKPH (LQGUXFN GHQ /LVDZHWD 3URNRIMHZQD EHLP )UVWHQ HPSILQJ ZXUGH GDGXUFK KHUYRUJHUXIHQ GD VLH HLQH JDQ]H *HVHOOVFKDIW XP LKQ YHUVDPPHOW IDQG JDQ] ]X VFKZHLJHQ YRQ GHP 8PVWDQG GD LKU LQ GLHVHU *HVHOOVFKDIW ]ZHL RGHU GUHL 3HUVRQHQ HQWVFKLHGHQ ]XZLGHU ZDUHQ XQG ]ZHLWHQV ZDU VLH XQDQJHQHKP EHUKUW DOV LKQHQ VWDWW HLQHV 9HUVFKHLGHQGHQDXIGHP6WHUEHEHWWGHQVLH]XILQGHQHUZDUWHW KDWWH HLQ DQVFKHLQHQG Y|OOLJ JHVXQGHU HOHJDQW JHNOHLGHWHU MXQJHU0DQQPLWOlFKHOQGHU0LHQHHQWJHJHQWUDW6LHEOLHEJDQ] YHUZXQGHUW VWHKHQ ]XP JU|WHQ 9HUJQJHQ .ROMDV GHU LKU QDWUOLFK QRFK HKH VLH YRQ LKUHP /DQGKDXV DXIEUDFK VHKU ZRKO KlWWH PLWWHLOHQ N|QQHQ GD QLHPDQG LP 6WHUEHQ OLHJH XQG YRQ HLQHP 7RWHQEHWW QLFKW GLH 5HGH VHL GLHV DEHU DEVLFKWOLFK XQWHUODVVHQ KDWWH LQ VFKODXHU 9RUDXVVLFKW GHV NRPLVFKHQ =RUQHV GHU *HQHUDOLQ GLH QDFK VHLQHU 6SHNXODWLRQ VLFK MHGHQIDOOV GDUEHU lUJHUQ ZUGH ZHQQ VLH GHQ )UVWHQ GHPVLHKHU]OLFK]XJHWDQZDUJHVXQGDQWUlIH.ROMDZDUVRJDU VR WDNWORV VHLQH 9HUPXWXQJ ODXW DXV]XVSUHFKHQ XP /LVDZHWD 3URNRIMHZQD QRFK PHKU ]X UHL]HQ PLW GHU HU WURW] GHU ]ZLVFKHQ LKQHQ DQJHNQSIWHQ )UHXQGVFKDIW VWlQGLJ XQG PDQFKPDO LQ UHFKW VFKDUIHU )RUP VWLFKHOWH ª:DUW QXU PHLQ /LHEHUNUlKQLFKW]XIUK© DQWZRUWHWH /LVDZHWD3URNRIMHZQD XQG VHW]WH VLFK DXI GHQ /HKQVWXKO GHQ LKU GHU )UVW ]XUHFKWUFNWH /HEHGHZ 3WL]\Q XQG *HQHUDO ,ZROJLQ EHHLOWHQ VLFK GHQ MXQJHQ 'DPHQ 6WKOH ]X EULQJHQ $JODMD ZXUGH YRP *HQHUDO HLQ 6WXKO DQJHERWHQ /HEHGHZ VWHOOWH DXFK GHP )UVWHQ 6FKWVFK HLQHQ 6WXKO KLQ ZREHL HU HV IHUWLJEUDFKWH GXUFK GLH
.UPPXQJVHLQHV5FNHQVHLQHDXHURUGHQWOLFKH(KUHUELHWXQJ DXV]XGUFNHQ :DUMD EHJUWH GLH MXQJHQ 'DPHQ PLW GHP JHZ|KQOLFKHQ (QW]FNHQ LP )OVWHUWRQ ª,FK KDWWH DOOHUGLQJV JHJODXEW GLFK LP %HWW ]X ILQGHQ )UVW VR VFKZDU]VHKHULVFK KDWWHPLFKGLH$QJVWJHPDFKWXQGLFKOHXJQHNHLQHVZHJVGD LFK PLFK VRHEHQ IXUFKWEDU EHU GHLQ JOFNOLFKHV *HVLFKW lUJHUWH DEHU LFK VFKZ|UH GLU GDV GDXHUWH QXU HLQHQ $XJHQEOLFNQXUVRODQJHDOVLFKQRFKQLFKWQDFKJHGDFKWKDWWH 6REDOG LFK QDFKJHGDFKW KDEH KDQGOH XQG UHGH LFK LPPHU YHUVWlQGLJHU LFK GHQNH HV ZLUG GLU HEHQVR JHKHQ ,Q :LUNOLFKNHLW DEHU N|QQWH LFK PLFK EHU GLH *HQHVXQJ PHLQHV HLJHQHQ 6RKQHV ZHQQ LFK HLQHQ KlWWH NDXP PHKU IUHXHQ DOV EHUGLHGHLQLJHXQGZHQQGXHVPLUQLFKWJODXEVWVRLVWGDV HLQH 6FKDQGH IU GLFK QLFKW IU PLFK 'LHVHU XQDUWLJH -XQJH DEHU HUODXEW VLFK PLW PLU JDQ] XQJHK|ULJH 6SDH 'X ELVW MD ZRKOVHLQ*|QQHUGDUXPP|FKWHLFKGLU DQNQGLJHQ GD LFK HLQHV VFK|QHQ 7DJHV DXI GLH (KUH XQG GDV 9HUJQJHQ VHLQHU ZHLWHUHQ %HNDQQWVFKDIW YHU]LFKWHQ ZHUGH GDV NDQQVW GX PLU JODXEHQ© ª:DVNDQQLFKGHQQGDIU"©ULHI .ROMDª:HQQLFK ,KQHQDXFKKRFKXQGKHLOLJEHWHXHUWKlWWHGDGHU)UVWVFKRQ EHLQDKJHVXQGVHLVRKlWWHQ6LHPLUGRFKQLFKWJHJODXEWZHLO HV YLHO LQWHUHVVDQWHU ZDU LKQ VLFK DXI GHP 6WHUEHEHWWH YRU]XVWHOOHQ© ª%OHLEVW GX ODQJH KLHU EHL XQV LQ 3DZORZVN"© ZDQGWH VLFK /LVDZHWD 3URNRIMHZQD DQ GHQ )UVWHQ ª'HQ JDQ]HQ6RPPHUXQGYLHOOHLFKWQRFKOlQJHU©ª'XELVWMDDOOHLQ KLHU %LVW GX GHQQ QLFKW YHUKHLUDWHW"© ª1HLQ LFK ELQ QLFKW YHUKHLUDWHW© HUZLGHUWH GHU )UVW GHU EHU GLH 1DLYLWlW GLHVHU JHJHQ LKQ JHULFKWHWHQ 6WLFKHOHL OlFKHOQ PXWH ª=XP /lFKHOQ LVWNHLQ$QODVRHWZDVNRPPWGRFKYRU ,FKVDJWHHV ZHJHQ GHV /DQGKDXVHV ZDUXP ELVW GX QLFKW ]X XQV JH]RJHQ" :LU KDEHQ HLQ JDQ]HV 1HEHQJHElXGH OHHU VWHKHQ hEULJHQV JDQ] ZLHGXZLOOVW:RKQVWGXGHQQKLHUDOV8QWHUPLHWHU"%HLGHP GD"© IJWH VLH KDOEODXW KLQ]X LQGHP VLH PLW HLQHU .RSIEHZHJXQJDXI/HEHGHZKLQGHXWHWHª:DUXPVFKQHLGHWHU
HLJHQWOLFKIRUWZlKUHQG*HVLFKWHU"© ,Q GLHVHP $XJHQEOLFN NDP :HUD ZLH JHZ|KQOLFK PLW GHP .LQG DXI GHP $UP DXV GHP ,QQHUQ GHV +DXVHV DXI GLH 9HUDQGD /HEHGHZ GHU VLFK EHL GHQ 6WKOHQ XPKHUZDQG XQG QLFKW ZXWH ZR HU EOHLEHQ VROOWH DEHU GXUFKDXV QLFKW ZHJJHKHQZROOWHVWU]WHSO|W]OLFKDXI:HUDORVXQGZROOWHVLH PLWKHIWLJHQ$UPEHZHJXQJHQDXVGHU9HUDQGDKLQDXVMDJHQHU YHUJDVLFKVRJDUVRZHLWGDHUPLWGHQ)HQWUDPSHOWHª,VW HU YHUUFNW"© IJWH GLH *HQHUDOLQ KLQ]X ª9LHOOHLFKW LVW HU EHWUXQNHQ" 'HLQH *HVHOOVFKDIW KLHU LVW QLFKW VFK|Q© VDJWH VLH LQ HQWVFKLHGHQHP 7RQ LQGHP VLH DXFK GLH EULJHQ *lVWH PLW LKUHP %OLFN PD ª$K ZDV IU HLQ QHWWHV 0lGFKHQ :HU LVW GDV"© ª'DV LVW :HUD /XNMDQRZQD GLH 7RFKWHU GLHVHV +HUUQ /HEHGHZ© ª$K(LQVHKUQHWWHV0lGFKHQ ,FKP|FKWHLKUH %HNDQQWVFKDIWPDFKHQ© /HEHGHZ DEHU GHU /LVDZHWD 3URNRIMHZQDV OREHQGHV 8UWHLO JHK|UW KDWWH ]RJ EHUHLWV VHOEVW VHLQH 7RFKWHU KHUEHL XP VLH YRU]XVWHOOHQ ª0HLQH .LQGHU VLQG PXWWHUORV PXWWHUORV© MDPPHUWHHUZlKUHQGHUQlKHUWUDWª$XFKGLHVHV.LQGGDVVLH DXI GHP $UP KDW LVW PXWWHUORV HV LVW LKUH 6FKZHVWHU PHLQH 7RFKWHU/MXERZLQUHFKWPlLJHU(KHYRQPHLQHU)UDX-HOHQD JHERUHQ GLH YRU VHFKV :RFKHQ QDFK *RWWHV :LOOHQ LP :RFKHQEHWW JHVWRUEHQ LVW MD 6LH YHUWULWW DQ LKU 0XWWHUVWHOOHREJOHLFKVLHQXULKUH6FKZHVWHULVWQLFKWVZHLWHU DOVLKUH6FKZHVWHUQLFKWVZHLWHUQLFKWVZHLWHU© ª8QGGX 9lWHUFKHQ ELVW QLFKWV ZHLWHU DOV HLQ 'XPPNRSI QLPP PLU¶V QLFKWEHO1DQXQJHQXJMHW]WZLUVWGXHVZRKOVHOEVWZLVVHQ GHQNH LFK© EHPHUNWH /LVDZHWD 3URNRIMHZQD VHKU XQJHKDOWHQ ª9ROONRPPHQ ULFKWLJ© HUZLGHUWH /HEHGHZ VHKU UHVSHNWYROO PLWHLQHUWLHIHQ9HUEHXJXQJ ª+|UHQ 6LH PDO +HUU /HEHGHZ LVW GDV ZDKU ZDV PDQ YRQ ,KQHQ VDJW 6LH OHJHQ GLH $SRNDO\SVH DXV"© IUDJWH $JODMD ª9ROONRPPHQ ZDKU 6HLW IQI]HKQ -DKUHQ© ª,FK KDEH YRQ ,KQHQJHK|UW(VKDWMDZRKODXFKLQGHQ=HLWXQJHQHWZDVEHU
6LH JHVWDQGHQ"© ª1HLQ GDV EH]RJ VLFK DXI HLQHQ DQGHUQ (UNOlUHUHLQHQDQGHUQGHULVWMHW]WJHVWRUEHQXQGLFKELQMHW]W VHLQ 1DFKIROJHU© YHUVHW]WH /HEHGHZ JDQ] DXHU VLFK YRU )UHXGH ª7XQ 6LH PLU GHQ *HIDOOHQ XQG HUNOlUHQ 6LH VLH PLU HLQPDOLQGLHVHQ7DJHQ DOVJXWHU1DFKEDU ,FKYHUVWHKHLQGHU $SRNDO\SVH NHLQ :RUW© ª,FK PX 6LH GDUDXI DXIPHUNVDP PDFKHQ$JODMD,ZDQRZQDGDGDVYRQLKPQXU6FKDUODWDQHULH LVWJODXEHQ6LHPLU©PLVFKWHVLFKHLOLJ*HQHUDO,ZROJLQLQGDV *HVSUlFKHLQGHUVFKRQZLHDXI.RKOHQJHVHVVHQXQGDXIGDV OHEKDIWHVWH JHZQVFKW KDWWH LUJHQGZLH HLQH 8QWHUKDOWXQJ DQ]XNQSIHQ HU VHW]WH VLFK EHL GLHVHQ :RUWHQ QHEHQ $JODMD ,ZDQRZQD ª*HZL© IXKU HU IRUW ªGHU $XIHQWKDOW DXI GHP /DQGH KDW MD VHLQH EHVRQGHUHQ 5HL]H XQG VHLQH EHVRQGHUHQ 9HUJQJXQJHQXQGGHU9HUNHKUPLWMHPDQGHPGHUHVVRNHFN XQWHUQLPPW GLH $SRNDO\SVH ]X HUNOlUHQ LVW HLQ =HLWYHUWUHLE ZLH MHGHU DQGHUH XQG VRJDU HLQ VROFKHU GHU LQ LQWHUHVVDQWHU :HLVH GHQ 9HUVWDQG LQ $QVSUXFK QLPPW DEHU LFK 6LH VFKHLQHQ PLFK HUVWDXQW DQ]XVHKHQ" ,FK KDEH GLH (KUH PLFK YRU]XVWHOOHQ *HQHUDO ,ZROJLQ ,FK KDEH 6LH DXI GHQ $UPHQ JHWUDJHQ $JODMD ,ZDQRZQD© ª6HKU HUIUHXW ,FK ELQ PLW :DUZDUD $UGDOLRQRZQD XQG 1LQD $OH[DQGURZQD EHNDQQW© PXUPHOWH $JODMD GLH VLFK GLH JU|WH 0KH JDE QLFKW ORV]XODFKHQ /LVDZHWD3URNRIMHZQDZXUGHGXQNHOURW'HUbUJHUGHUVLFK VFKRQ ODQJH LQ LKUHU 6HHOH DQJHVDPPHOW KDWWH YHUODQJWH DXI HLQPDO QDFK HLQHP $XVZHJ 6LH NRQQWH GHQ *HQHUDO ,ZROJLQ PLW GHP VLH IUKHU HLQPDO YRU VHKU ODQJHU =HLW EHNDQQW JHZHVHQ ZDU QLFKW DXVVWHKHQ ª'X OJVW 9lWHUFKHQ ZLH GDV GHLQH *HZRKQKHLW LVW GX KDVW VLH QLH DXI GHQ $UPHQ JHWUDJHQ©VDJWHVLHVFKDUIXQGXQZLOOLJ]XLKPª6LHKDEHQHV YHUJHVVHQ PDPDQ HU KDW PLFK ZLUNOLFK DXI GHQ $UPHQ JHWUDJHQ© EHVWlWLJWH $JODMD SO|W]OLFK GLH $QJDEH GHV *HQHUDOV ª:LUZRKQWHQGDPDOVLQ7ZHU ,FKZDUVHFKV-DKUH DOWLFKHULQQHUHPLFKDQDOOHV(UPDFKWHPLUHLQHQ%RJHQXQG
HLQHQ3IHLOXQGOHKUWHPLFKGDPLWVFKLHHQXQGLFKVFKRHLQH 7DXEH WRW (ULQQHUQ 6LH VLFK GD ZLU EHLGH ]XVDPPHQ HLQH 7DXEH WRWJHVFKRVVHQ KDEHQ"© ª8QG PLU EUDFKWH HU GDPDOV HLQHQ +HOP DXV 3DSSH XQG HLQHQ K|O]HUQHQ 'HJHQ LFK HQWVLQQH PLFK DXFK© ULHI $GHODLGD ª$XFK LFK HULQQHUH PLFK GDUDQ©IJWH$OH[DQGUDEHNUlIWLJHQGKLQ]Xª,KU]DQNWHWHXFK GDPDOVQRFKZHJHQGHUYHUZXQGHWHQ7DXEHXQGZXUGHWLQGLH (FNHQJHVWHOOW$GHODLGDVWDQGVRGDPLWGHP+HOPXQGGHP 'HJHQ© 'HU*HQHUDOGHU]X$JODMDJHVDJWKDWWHHUKDEHVLHDXIGHQ $UPHQJHWUDJHQKDWWHGDVQXUVRKLQJHUHGHWXPHLQ*HVSUlFK LQ*DQJ]XEULQJHQXQGHLQ]LJXQGDOOHLQZHLOHUIDVWLPPHU HLQH 8QWHUKDOWXQJ PLW MXQJHQ /HXWHQ LQ GLHVHU :HLVH EHJDQQ ZHQQHUPLWLKQHQEHNDQQW]XZHUGHQZQVFKWH'LHVPDODEHU KDWWH HV VLFK JDQ] ]XIlOOLJ JHWURIIHQ GD HU GLH :DKUKHLW JHVDJW KDWWH XQG HEHQVR ZDU HV HLQ =XIDOO JHZHVHQ GD HU VHOEVW GLHVHV ZDKUH )DNWXP YHUJHVVHQ KDWWH $OV QXQ $JODMD XQHUZDUWHWHUZHLVH ]XU %HVWlWLJXQJ HU]lKOWH GD VLH PLW LKP ]XVDPPHQ HLQH 7DXEH WRWJHVFKRVVHQ KDEH HUKHOOWH VLFK VHLQ *HGlFKWQLV DXI HLQPDO XQG HU HULQQHUWH VLFK VHOEVW DQ GLHVHQ 9RUIDOO ELV LQ GLH NOHLQVWHQ (LQ]HOKHLWHQ ZLH PDQ VLFK LQ K|KHUHQ -DKUHQ QLFKW VHOWHQ DQ HWZDV DXV GHU IHUQHQ 9HUJDQJHQKHLWHULQQHUW(VLVWVFKZHU]XVDJHQZDVHLJHQWOLFK DQ GLHVHU (ULQQHUXQJ VR VWDUN DXI GHQ DUPHQ XQG ZLH JHZ|KQOLFKHWZDVDQJHWUXQNHQHQ*HQHUDOZLUNHQNRQQWHDEHU HU ZXUGH DXI HLQPDO JDQ] JHUKUW ª,FK HULQQHUH PLFK LFK HULQQHUHPLFKDQDOOHV© ULHI HU ª,FKZDUGDPDOV +DXSWPDQQ 6LH ZDUHQ VR HLQ NOHLQHV DOOHUOLHEVWHV 'LQJ 1LQD $OH[DQGURZQD*DQMD,FKYHUNHKUWHLQ,KUHP+DXVH,ZDQ )MRGRURZLWVFK © ª8QG QXQ VLHK PDO ZLH ZHLW GX MHW]W KHUXQWHUJHNRPPHQ ELVW© ILHO GLH *HQHUDOLQ HLQ ª1D ZHQLJVWHQVKDVWGXQRFKQLFKWDOOH DQVWlQGLJHQ*HIKOHLQGLU GXUFK GHQ 7UXQN HUVWLFNW ZHQQ GDV VR DXI GLFK KDW ZLUNHQ N|QQHQ $EHU GHLQH )UDX KDVW GX KDOE ]X 7RGH JHTXlOW 6WDWW
GHLQHQ.LQGHUQGHQ:HJGXUFKV /HEHQ]X]HLJHQVLW]WGX LP 6FKXOGJHIlQJQLV 0DFK GD GX YRQ KLHU ZHJNRPPVW 9lWHUFKHQJHKZRDQGHUVKLQVWHOOGLFKKLQWHUHLQHU7ULQGLH (FNH XQG ZHLQH GHQN DQ GHLQH IUKHUHQ XQVFKXOGLJHQ 7DJH YLHOOHLFKW YHU]HLKW GLU GDQQ *RWW *HK QXU JHK LFK UHGH JDQ] LP (UQVW 1LFKWV LVW ]XU %HVVHUXQJ QW]OLFKHU DOV UHXLJ GHU 9HUJDQJHQKHLW]XJHGHQNHQ© $EHU HV EHGXUIWH NHLQHU ZLHGHUKROWHQ 9HUVLFKHUXQJ GD VLH JDQ] LP (UQVW UHGH GHU *HQHUDO ZDU ZLH DOOH 7ULQNHU VHKU JHIKOYROO XQG NRQQWH ZLH DOOH KHUXQWHUJHNRPPHQHQ 7ULQNHU GLH(ULQQHUXQJDQGLHJOFNOLFKH9HUJDQJHQKHLWQLFKWHUWUDJHQ (U VWDQG DXI XQG EHJDE VLFK JHKRUVDP QDFK GHU 7U VR GD /LVDZHWD 3URNRIMHZQD VRJOHLFK ZLHGHU 0LWOHLG PLW LKP HPSIDQG ª$UGDOLRQ $OH[DQGU\WVFK 9lWHUFKHQ© ULHI VLH LKP QDFK ª%OHLE QRFK HLQHQ $XJHQEOLFN KLHU :LU VLQG DOO]XPDO 6QGHU :HQQ GX IKOHQ ZLUVW GD GHLQ *HZLVVHQ GLU QLFKW PHKUVRYLHO9RUZUIHPDFKWGDQQNRPP]XPLUGDQQZROOHQ ZLU XQV ]XVDPPHQVHW]HQ XQG YRQ DOWHQ =HLWHQ SODXGHUQ ,FK ELQMDYLHOOHLFKWQRFKIQI]LJPDOVQGKDIWHU DOVGX$EHUMHW]W OHEZRKOJHKGXKDVWKLHUQLFKWV]XVXFKHQ©IJWHVLHKLQ]X LQ$QJVWGDHUZLHGHUXPNHKUHQN|QQWHª6LHWlWHQJXWZHQQ 6LHLKPYRUOlXILJQLFKWQDFKJLQJHQ©VDJWHGHU)UVWXP.ROMD DXI]XKDOWHQ GHU VHLQHP 9DWHU VFKQHOO IROJHQ ZROOWH ª6RQVW ZLUG HU QDFK HLQHU 0LQXWH lUJHUOLFK ZHUGHQ XQG GHU JDQ]H VHJHQVUHLFKH$XJHQEOLFNLVWGDQQYHUGRUEHQ©ª'DVLVWULFKWLJ OD LKQ MHW]W LQ 5XKH JHK HUVW LQ HLQHU KDOEHQ 6WXQGH KLQ© VDJWH/LVDZHWD3URNRIMHZQDEHIHKOHQGª'DVLHKWPDQZDVHV ]X EHGHXWHQ KDW ZHQQ PDQ ZHQLJVWHQV HLQPDO LP /HEHQ GLH :DKUKHLW VDJW =XP :HLQHQ KDW HV LKQ JHEUDFKW© ZDJWH /HEHGHZKLQWHUGUHLQ]XEHPHUNHQª1DXQGGXPXWDXFKHLQ QHWWHU3DWURQVHLQ9lWHUFKHQZHQQGDVZDKULVWZDVLFKEHU GLFKJHK|UWKDEH©NDQ]HOWHLKQ/LVDZHWD3URNRIMHZQDVRJOHLFK DE 'DV JHJHQVHLWLJH 9HUKlOWQLV DOOHU EHL GHP )UVWHQ
YHUVDPPHOWHQ %HVXFKHU NOlUWH VLFK DOOPlKOLFK 'HU )UVW ZXWH GLH LKP YRQ GHU *HQHUDOLQ XQG LKUHQ 7|FKWHUQ EHZLHVHQH7HLOQDKPHVHOEVWYHUVWlQGOLFKLQLKUHPJDQ]HQ:HUW ]XZUGLJHQXQGVDJWHLKQHQDXIULFKWLJHUKDEH JHUDGHKHXWH QRFK YRU LKUHP %HVXFKH GLH EHVWLPPWH $EVLFKW JHKDEW ]X LKQHQ]XNRPPHQWURW]VHLQHU.UDQNKHLWXQG WURW] GHU VSlWHQ 6WXQGH/LVDZHWD3URNRIMHZQDHUZLGHUWHLKPPLWHLQHP%OLFN DXI VHLQH *lVWH GDV N|QQH HU DXFK MHW]W QRFK VRJOHLFK ]XU $XVIKUXQJ EULQJHQ 3WL]\Q HLQ K|IOLFKHU XQG VHKU IULHGIHUWLJHU 0HQVFK VWDQG VHKU EDOG DXI XQG ]RJ VLFK QDFK GHP 1HEHQJHElXGH LQ /HEHGHZV :RKQXQJ ]XUFN VHKU JHUQ KlWWH HU GDEHL DXFK /HEHGHZ VHOEVW PLWJHQRPPHQ 'LHVHU YHUVSUDFK LKP EDOG QDFK]XNRPPHQ XQWHUGHVVHQ ZDU :DUMD PLW GHQ MXQJHQ 0lGFKHQ LQ HLQ OHEKDIWHV *HVSUlFK KLQHLQJHNRPPHQ XQG EOLHE LQIROJHGHVVHQ 6LH XQG *DQMD ZDUHQ VHKU IURK EHU GLH $EZHVHQKHLW GHV *HQHUDOV *DQMD VHOEVWIROJWHEDOG3WL]\QQDFK:lKUHQGGHUNXU]HQ=HLWGLHHU LQ GHU 9HUDQGD LQ *HJHQZDUW GHU -HSDQWVFKLQVFKHQ 'DPHQ ]XJHEUDFKW KDWWH KDWWH HU VLFK EHVFKHLGHQ XQG ZUGLJ EHQRPPHQXQGXQWHU/LVDZHWD3URNRIMHZQDVVWUHQJHP%OLFNH GLH LKQ ]ZHLPDO YRP .RSI ELV ]X GHQ )HQ PXVWHUWH QLFKW GLH )DVVXQJ YHUORUHQ :HU LKQ IUKHU JHNDQQW KDWWH PXWH LQ GHU 7DW ILQGHQ GD HU VLFK VHKU YHUlQGHUW KDEH $XI $JODMD PDFKWH GLHV HLQHQ JXWHQ (LQGUXFN ª:DU GDV QLFKW *DZULOD $UGDOLRQRZLWVFKGHUHEHQZHJJLQJ"©IUDJWHVLH DXIHLQPDOLQ LKUHUEHOLHEWHQ$UWODXWLQVFKDUIHP7RQRKQH5FNVLFKWDXI GDV *HVSUlFK GHU DQGHUQ GDV VLH PLW LKUHU )UDJH XQWHUEUDFK XQGRKQHVLFKDQLUJHQGHLQHQHLQ]HOQHQ]XZHQGHQª-DZRKO© DQWZRUWHWHGHU)UVW ª,FKKDWWHLKQNDXPHUNDQQW(UKDWVLFK VHKU YHUlQGHUW XQG VHKU ]X VHLQHP 9RUWHLO© ª'DV LVW PLU VHKUOLHE]XK|UHQ©HUZLGHUWHGHU)UVW ª(UZDUVHKUNUDQN© IJWH:DUMD]XJOHLFKHUIUHXWXQGEHGDXHUQGKLQ]Xª,QZLHIHUQ VROO HU VLFK GHQQ ]X VHLQHP 9RUWHLO YHUlQGHUW KDEHQ"© IUDJWH /LVDZHWD 3URNRIMHZQD lUJHUOLFK XQG HUVWDXQW XQG EHLQDK
HUVFKURFNHQ ª:LH NRPPVW GX GDUDXI" ,FK EHPHUNH DQ LKP QLFKWV ZDV EHVVHU JHZRUGHQ ZlUH :DV VFKHLQW GLU GHQQ HLJHQWOLFK EHVVHU"© ª(WZDV %HVVHUHV DOV GHQ ¾DUPHQ 5LWWHU½ NDQQ HV EHUKDXSW QLFKW JHEHQ© ULHI SO|W]OLFK .ROMD GHU GLH JDQ]H=HLWEHUQHEHQ/LVDZHWD3URNRIMHZQDV6WXKOJHVWDQGHQ KDWWH ª'DV LVW DXFK PHLQH 0HLQXQJ© VDJWH )UVW 6FKWVFK ODFKHQG ª,FK ELQ JDQ] GHUVHOEHQ $QVLFKW© HUNOlUWH $GHODLGD HUQVW ª:DV LVW GHQQ GDV IU HLQ ¾DUPHU 5LWWHU½"© IUDJWH GLH *HQHUDOLQ LQGHP VLH DOOH 5HGHQGHQ YHUVWlQGQLVORV XQG lUJHUOLFKDQEOLFNWH$EHUDOVVLHVDKGD$JODMDURWJHZRUGHQ ZDUIJWHVLH]RUQLJKLQ]Xª*HZLZLHGHULUJHQGHLQ8QVLQQ :DVIUHLQ¾DUPHU5LWWHU½"©ª$OVREHVGDVHUVWHPDOZlUHGD GLHVHU IUHFKH -XQJH ,KU /LHEOLQJ DQGHUHU /HXWH :RUWH YHUGUHKW©DQWZRUWHWH$JODMDKRFKPWLJXQGXQZLOOLJ )DVW MHGHVPDO ZHQQ $JODMD ]RUQLJ ZXUGH XQG GDV JHVFKDK ]LHPOLFK RIW EOLFNWH DXV LKUHU DQVFKHLQHQG HUQVWHQ XQHUELWWOLFKHQ 0LHQH GRFK VR YLHO YRQ GHP VFKOHFKW YHUKHKOWHQ XQJHGXOGLJHQ :HVHQ HLQHV 6FKXONLQGHV KHUYRU GD HV PDQFKPDO XQP|JOLFK ZDU EHL LKUHP $QEOLFN GDV /DFKHQ ]X XQWHUGUFNHQ ZRUEHU VLFK $JODMD EULJHQV JHZDOWLJ lUJHUWH GD VLH QLFKW EHJULII ZRUEHU GLH /HXWH ODFKWHQ XQG ªZLH MHPDQG GD EHUKDXSW ODFKHQ N|QQH XQG ]X ODFKHQ ZDJH© $XFK MHW]W ODFKWHQ GLH 6FKZHVWHUQ XQG )UVW 6FKWVFKVRJDU)UVW/HZ1LNRODMHZLWVFKGHUDXVLUJHQGHLQHP *UXQG HEHQIDOOV HUU|WHW ZDU OlFKHOWH .ROMD MXEHOWH XQG WULXPSKLHUWH $JODMD ZXUGH QXQ HUQVWOLFK E|VH XQG GDGXUFK QRFK HLQPDO VR VFK|Q ,KUH 9HUOHJHQKHLW VWDQG LKU DXHURUGHQWOLFK JXW XQG QLFKW PLQGHU JOHLFK]HLWLJ LKU bUJHU EHU VLFK VHOEVW ZHJHQ GLHVHU 9HUOHJHQKHLW ª$XFK ,KUH HLJHQHQ:RUWHKDWHURIWJHQXJYHUGUHKW©IJWHVLHKLQ]Xª,FK ZLHGHUKROH QXU ,KUHQ HLJHQHQ $XVVSUXFK© ULHI .ROMD ª9RU HLQHP 0RQDW EOlWWHUWHQ 6LH LP 'RQ 4XLMRWH XQG ULHIHQ GDEHL DXV HV JHEH GRFK QLFKWV %HVVHUHV DOV GHQ ¾DUPHQ 5LWWHU½ ,FK ZHL QLFKW DXI ZHQ VLFK GDV GDPDOV EH]LHKHQ VROOWH RE DXI
'RQ 4XLMRWH RGHU DXI -HZJHQLM 3ZDORZLWVFK RGHU DXI QRFK MHPDQG DQGHUV DEHU MHGHQIDOOV PHLQWHQ 6LH GDPLW LUJHQG MHPDQGXQGHVHQWVSDQQVLFKGDUEHUHLQODQJHV*HVSUlFK© ª,FKVHKHGDGXGLUPLWGHLQHQ9HUPXWXQJHQGRFKJDU]XYLHO KHUDXVQLPPVW PHLQ /LHEHU© XQWHUEUDFK LKQ /LVD±ZHWD 3URNRIMHZQDlUJHUOLFK ª$EHUELQLFKGHQQGHUHLQ]LJHGHUGDYRQVSULFKW"©YHUVHW]WH .ROMD GHU VLFK QLFKW GHQ 0XQG YHUELHWHQ OLH ª$OOH KDEHQ GDPDOVGDYRQJHVSURFKHQXQGVSUHFKHQDXFKMHW]WQRFKGDYRQ +LHU )UVW 6FKWVFK XQG $GHODLGD ,ZDQRZQD XQG EHUKDXSW DOOH KDEHQ HUNOlUW GD VLH DXI 6HLWHQ GHV ¾DUPHQ 5LWWHUV½ VWHKHQDOVRPXGRFKGHU¾DUPH5LWWHU½H[LVWLHUHQXQGH[LVWLHUW MHGHQIDOOV XQG ZHQQ QXU $GHODLGD ,ZDQRZQD ZROOWH VR ZUGHQZLUPHLQHU$QVLFKWQDFKDOOHVFKRQOlQJVWZLVVHQZHU GHU ¾DUPH 5LWWHU½ LVW© ª,QZLHIHUQ VROO LFK GHQQ GDUDQ VFKXOG VHLQ"©IUDJWH$GHODLGDODFKHQGª6LHZROOWHQVHLQ3RUWUlWQLFKW ]HLFKQHQLQVRIHUQVLQG6LHGDUDQVFKXOG$JODMD,ZDQRZQDEDW 6LH GDPDOV GDV 3RUWUlW GHV ¾DUPHQ 5LWWHUV½ ]X ]HLFKQHQ XQG VHW]WH ,KQHQ GHQ JDQ]HQ 9RUZXUI ]X GHP %LOG DXVHLQDQGHU GHQVLHVLFKVHOEVWDXVJHGDFKWKDWWHHULQQHUQ6LHVLFKQRFKDQ GLHVHQ9RUZXUI"$EHU6LHZROOWHQHVQLFKW© ª:LHKlWWHLFK GHQ %HWUHIIHQGHQ GHQQ ]HLFKQHQ VROOHQ" ,Q GHU %HVFKUHLEXQJ ZLUG GRFK YRQ GLHVHP ¾DUPHQ 5LWWHU½ 1LHPDOV LQ GLH +|KH VFKOXJHUYRUP*HVLFKWHGDV9LVLHU½ :DVNRQQWHGDEHLDOVRIUHLQ*HVLFKWKHUDXVNRPPHQ":DV VROOWH LFK ]HLFKQHQ" (LQ 9LVLHU" (LQHQ $QRQ\PXV"© ª,FK YHUVWHKH YRQ DOOHGHP QLFKWV ZDV LVW GDV QXQ ZLHGHU IU HLQ 9LVLHU"© HUHLIHUWH VLFK GLH *HQHUDOLQ GLH LP VWLOOHQ VHKU ZRKO ]X EHJUHLIHQ DQILQJ ZHU PLW GHU ZDKUVFKHLQOLFK VFKRQ ODQJH JHOlXILJHQ%HQHQQXQJªGHUDUPH5LWWHU©JHPHLQWZDU $EHUJDQ]EHVRQGHUVlUJHUWHVLHVLFKGDUEHUGD)UVW/HZ 1LNRODMHZLWVFK HEHQIDOOV YHUOHJHQ JHZRUGHQ ZDU XQG VFKOLHOLFK HLQH %HIDQJHQKHLW EHNXQGHWH ZLH HLQ ]HKQMlKULJHU -XQJH ª1XQ DOVR ZLUG GLHVH 'XPPKHLW HQGOLFK HLQ (QGH
QHKPHQ" :LUG PLU QXQ HUOlXWHUW ZHUGHQ ZDV GLHVHU ¾DUPH 5LWWHU½ EHGHXWHW" ,VW GDV HWZD HLQ VR IXUFKWEDUHV *HKHLPQLV GDPDQJDUQLFKWGDUDQUKUHQGDUI"© $EHU DOOH ODFKWHQ QXU ZHLWHU ª(V LVW JDQ] HLQIDFK HLQ PHUNZUGLJHV UXVVLVFKHV *HGLFKW© HUJULII HQGOLFK )UVW 6FKWVFK GDV :RUW RIIHQEDU LQ GHP :XQVFK GLH 6DFKH P|JOLFKVWVFKQHOO]XHUOHGLJHQXQGGHP*HVSUlFKHLQHDQGHUH :HQGXQJ ]X JHEHQ ªHLQ *HGLFKW EHU HLQHQ ¾DUPHQ 5LWWHU½ HLQ )UDJPHQW RKQH $QIDQJ XQG 6FKOX 9RU HLQHP 0RQDW VFKHU]WHQ ZLU HLQPDO DOOH QDFK 7LVFK XQG VXFKWHQ ZLH JHZ|KQOLFK QDFK HLQHP 9RUZXUI IU HLQ NQIWLJHV %LOG $GHODLGD ,ZDQRZQDV 6LH ZLVVHQ GD HV EHUHLWV ]X HLQHU $UW YRQ )DPLOLHQVSRUW JHZRUGHQ LVW 9RUZUIH IU $GHODLGD ,ZDQRZQDV%LOGHUDXVILQGLJ]XPDFKHQ'DYHUILHOHQZLUDXFK DXIGHQ¾DUPHQ5LWWHU½ZHU]XHUVWDXIGLHVHQ(LQIDOONDPZHL LFK QLFKW PHKU © ª$JODMD ,ZDQRZQD ZDU HV© ULHI .ROMD ª0DJVHLQLFKZLOOHVQLFKWEHVWUHLWHQREZRKOLFKPLFKQLFKW HULQQHUH© IXKU )UVW 6FKWVFK IRUW ª'LH HLQHQ VSRWWHWHQ EHU GLHVHV6XMHWGLHDQGHUHQGDJHJHQPHLQWHQPDQN|QQHVLFKJDU QLFKWV +|KHUHV DXVGHQNHQ $EHU XP GHQ ¾DUPHQ 5LWWHU½ GDU]XVWHOOHQ GD]X ZDU XQWHU DOOHQ 8PVWlQGHQ HLQ *HVLFKW DOV 0RGHOOHUIRUGHUOLFKVRPXVWHUWHQZLUGHQQGLH*HVLFKWHUDOOHU XQVHUHU %HNDQQWHQ DEHU NHLQ HLQ]LJHV WDXJWH GD]X GDUDQ VFKHLWHUWH GLH 6DFKH 'DV LVW DOOHV (V LVW PLU XQYHUVWlQGOLFK ZDUXP 1LNRODL $UGDOLRQRZLWVFK HV KLHU KDW HUZlKQHQ XQG HU|UWHUQ N|QQHQ :DV IUKHU XQG EHL EHVWLPPWHP $QOD NRPLVFK ZDU KDW MHW]W DOOHV ,QWHUHVVH YHUORUHQ© ª(U KDW HV HEHQ JHWDQ ZHLO GD ZLHGHU LUJHQGHLQH QHXH 'XPPKHLW GDKLQWHUVWHFNW HLQH ERVKDIWH YHUOHW]HQGH 'XPPKHLW© EHPHUNWH /LVDZHWD 3URNRIMHZQD VFKDUI ª(V VWHFNW JDU NHLQH 'XPPKHLW GDKLQWHU VRQGHUQ YLHOPHKU GLH JU|WH +RFKDFKWXQJ©VDJWH$JODMDPLWJDQ]XQHUZDUWHWHP(UQVWXQG 1DFKGUXFN (V ZDU LKU LQ]ZLVFKHQ JHOXQJHQ VLFK ZLHGHU YROOVWlQGLJ LQ GLH *HZDOW ]X EHNRPPHQ XQG LKUH IUKHUH
9HUOHJHQKHLW]XXQWHUGUFNHQ -D DXI *UXQG JHZLVVHU $Q]HLFKHQ NRQQWH PDQ ZHQQ PDQ VLHDQVDKPHLQHQGDVLHVLFKMHW]WVHOEVWGDUEHUIUHXWHGD GHU 6SD VLFK LPPHU OlQJHU XQG OlQJHU DXVGHKQWH XQG GLHVH JDQ]H 8PZDQGOXQJ JLQJ EHL LKU JHUDGH LQ GHP $XJHQEOLFN YRU DOV GLH LPPHU ]XQHKPHQGH XQG VFKRQ VHKU KRFK JHVWLHJHQH 9HUOHJHQKHLW GHV )UVWHQ JDQ] GHXWOLFK ZXUGH ª(UVWODFKHQVLHZLHGLH8QVLQQLJHQXQGGDQQZLUGDXIHLQPDO YRQ GHU JU|WHQ +RFKDFKWXQJ JHVSURFKHQ 9HUUFNWHV 9RON :DVVROOKLHUGLH+RFKDFKWXQJ"6DJPDOVRIRUWZDUXPGXVR PLUQLFKWVGLUQLFKWVDXIHLQPDOYRQGHUJU|WHQ+RFKDFKWXQJ UHGHVW© ª9RQ GHU JU|WHQ +RFKDFKWXQJ© HUZLGHUWH $JODMD HEHQVR HUQVW XQG QDFKGUFNOLFK DXI GLH lUJHUOLFKH )UDJH GHU 0XWWHU ªYRQGHU JU|WHQ +RFKDFKWXQJ UHGH LFK GHVKDOE ZHLO LQ GLHVHQ 9HUVHQ HLQ 0HQVFK JHVFKLOGHUW ZLUG GHU IlKLJ LVW HUVWHQV HLQ ,GHDO ]X KDEHQ XQG ]ZHLWHQV QDFKGHP HU VLFK HLQPDO HLQ VROFKHV ,GHDO JHVFKDIIHQ KDW DQ GDVVHOEH ]X JODXEHQXQGLKPEOLQGVHLQJDQ]HV/HEHQ]XZHLKHQ6RHWZDV NRPPW LQ XQVHUHU =HLW QLFKW DOOH 7DJH YRU 'RUW LQ GLHVHQ 9HUVHQLVWQLFKWJHVDJWZRULQHLJHQWOLFKGDV,GHDOGHV¾DUPHQ 5LWWHUV½ EHVWDQG DEHU PDQ VLHKW GD HV HEHQ HLQ OHXFKWHQGHV ,GHDO ZDU ¾HLQ ,GHDO GHU UHLQHQ 6FK|QKHLW½ XQG GD GHU YHUOLHEWH5LWWHUVLFK VRJDU VWDWW GHU 6FKlUSH HLQHQ 5RVHQNUDQ] XP GHQ +DOV EDQG $OOHUGLQJV LVW GD QRFK YRQ HLQHU GXQNOHQ QXU DQGHXWHQGHQ 'HYLVH GLH 5HGH GHQ %XFKVWDEHQ $ 1 % GLH HU DXI VHLQHQ 6FKLOG JHVFKULHEHQ KDWWH © ª$ 0 '© YHUEHVVHUWH .ROMD ª,FK VDJH DEHU $ 1 % XQG ZLOO GDEHL EOHLEHQ©XQWHUEUDFKLKQ $JODMD lUJHUOLFK ª:LH HV VLFK GDPLW DXFK YHUKDOWHQ PDJ VR YLHO LVW NODU GD HV GLHVHP ¾DUPHQ 5LWWHU½ QXQ JDQ] JOHLFKJOWLJ ZDU ZHU VHLQH 'DPH ZDU XQG ZDVVLHWDW,KPJHQJWHHVVLHVLFKDXVJHZlKOW]XKDEHQXQG DQ LKUH ¾UHLQH 6FK|QKHLW½ ]X JODXEHQ XQG QXQ YHUHKUW HU VLH VHLQ JDQ]HV /HEHQ ODQJ JHUDGH GDULQ EHVWHKW VHLQ 9HUGLHQVW GD HU VHOEVW ZHQQ VLH VSlWHU ]XU 'LHELQ ZUGH GRFK DQ VLH
JODXEHQ XQG IU LKUH UHLQH 6FK|QKHLW HLQH /DQ]H EUHFKHQ PWH 'HU 'LFKWHU VFKHLQW EHDEVLFKWLJW ]X KDEHQ LQ GHU DXIIDOOHQGHQ *HVWDOW HLQHV UHLQHQ KRFKJHVLQQWHQ 5LWWHUV GHQ JDQ]HQ JHZDOWLJHQ %HJULII GHU PLWWHODOWHUOLFKHQ ULWWHUOLFKHQ SODWRQLVFKHQ /LHEH ]XU ]XVDPPHQIDVVHQGHQ 'DUVWHOOXQJ ]X EULQJHQ VHOEVWYHUVWlQGOLFK LVW GDV DOOHV HLQ ,GHDO ,Q GHP ¾DUPHQ 5LWWHU½ KDW GLHVHV *HIKO VFKRQ GLH K|FKVWH 6WXIH HUUHLFKWGLH$VNHVHPDQPX JHVWHKHQGDGLH)lKLJNHLW]X HLQHP VROFKHQ *HIKO HLQHQ KRKHQ :HUW KDW XQG GD VROFKH *HIKOH HLQHQ EHGHXWVDPHQ XQG XQWHU 8PVWlQGHQ VHKU O|EOLFKHQ &KDUDNWHU]XJ ELOGHQ ZREHL LFK QLFKW JHUDGH 'RQ 4XLMRWHPHLQH'HU¾DUPH5LWWHU½LVWHLQH$UW'RQ4XLMRWHDEHU HLQHUQVWHUQLFKWHLQNRPLVFKHU,FKKDEHLKQDP$QIDQJQLFKW YHUVWDQGHQ XQG EHU LKQ JHODFKW DEHU MHW]W OLHEH LFK GHQ ¾DUPHQ 5LWWHU½ XQG YRU DOOHQ 'LQJHQ VFKlW]H LFK VHLQH 7DWHQ KRFK© 'DPLWVFKOR$JODMDXQGZHQQPDQVLH DQVDK NRQQWH PDQ VFKZHU GDUDXV NOXJ ZHUGHQ RE VLH LP (UQVW VSUDFK RGHU VFKHU]WH ª1D HLQ 'XPPNRSI LVW HU HU XQG VHLQH 7DWHQ© XUWHLOWHGLH*HQHUDOLQNXU]ª$EHUGXOLHEHV.LQGELVWJDQ]LQV 6FKZDW]HQ KLQHLQJHNRPPHQ GDV ZDU MD HLQH RUGHQWOLFKH 9RUOHVXQJ DEHU PHLQHU $QVLFKW QDFK VWHKW GLU GDV JDU QLFKW JXW MHGHQIDOOV LVW HV XQSDVVHQG :DV VLQG GDV IU 9HUVH" 6DJ VLH PDO DXI GX NDQQVW VLH GRFK VLFKHU DXVZHQGLJ ,FK ZLOO GLHVH9HUVHXQEHGLQJWNHQQHQOHUQHQ0HLQJDQ]HV/HEHQKDEH LFK 9HUVH QLFKW OHLGHQ N|QQHQ DOV KlWWH LFK HLQH $KQXQJ JHKDEW GD LFK PLFK EOR GDUEHU lUJHUQ ZUGH 8P *RWWHV ZLOOHQ)UVWZHUGQLFKWE|VH:LUEHLGHGXXQGLFKPVVHQ ZLH HV VFKHLQW HV ]XVDPPHQ HUWUDJHQ© VDJWH VLH ]X GHP )UVWHQ /HZ 1LNRODMHZLWVFK JHZHQGHW 6LH ZDU VHKU DXIJHEUDFKW )UVW/HZ1LNRODMHZLWVFKZROOWHVFKRQHWZDVVDJHQNRQQWH DEHU ZHJHQ VHLQHU LPPHU QRFK DQGDXHUQGHQ 9HUOHJHQKHLW QLFKWV KHUDXVEULQJHQ $JODMD KLQJHJHQ GLH VLFK LQ LKUHU
ª9RUOHVXQJ© VRYLHO KHUDXVJHQRPPHQ KDWWH ]HLJWH NHLQH 6SXU YRQ 9HUOHJHQKHLW PHKU VRQGHUQ VFKLHQ VLFK LP *HJHQWHLO ]X IUHXHQ 6LH VWDQG VRIRUW DXI PLW GHUVHOEHQ HUQVWHQ EHGHXWVDPHQ 0LHQH ZLH YRUKLQ HV PDFKWH GHQ (LQGUXFN DOV Kl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lVWHGLHLQODXWHP*HVSUlFKEHJULIIHQZDUHQYRQGHU6WUDH LQ GLH 9HUDQGD 'LHV ZDUHQ GHU *HQHUDO ,ZDQ )MRGRURZLWVFK -HSDQWVFKLQ XQG KLQWHU LKP HLQ MXQJHU 0DQQ ,KU (UVFKHLQHQ ULHIEHLGHQEHUHLWV$QZHVHQGHQHLQHNOHLQH$XIUHJXQJKHUYRU
9,, 'HU MXQJH 0DQQ GHU GHQ *HQHUDO EHJOHLWHWH ZDU XQJHIlKU DFKWXQG]ZDQ]LJ-DKUHDOWKRFKJHZDFKVHQVFKODQNPLWHLQHP VFK|QHQ YHUVWlQGLJHQ *HVLFKW XQG JURHQ VFKZDU]HQ NOXJ XQG VS|WWLVFK EOLFNHQGHQ $XJHQ $JODMD VDK VLFK JDU QLFKW QDFKLKPXPXQGGHNODPLHUWHUXKLJGDV*HGLFKWZHLWHULQGHP
VLH IRUWIXKU QXU GHQ )UVWHQ DQ]XVHKHQ XQG VLFK QXU DQ LKQ DOOHLQ ZDQGWH 'HP )UVWHQ ZDU NODU GD VLH GLHV DOOHV PLW LUJHQGHLQHU EHVRQGHUHQ $EVLFKW WDW $EHU ZHQLJVWHQV WUXJHQ GLH QHXHQ *lVWH HLQLJHUPDHQ ]XU 9HUEHVVHUXQJ VHLQHU XQEHKDJOLFKHQ6LWXDWLRQEHL$OVHUVLHHUEOLFNWHHUKREHUVLFK QLFNWHGHP*HQHUDOYRQZHLWHPIUHXQGOLFK]XXQGPDFKWHHLQ =HLFKHQGDVLHGLH'HNODPDWLRQQLFKWXQWHUEUHFKHQP|FKWHQ HUVHOEVWDEHUUHWLULHUWHKLQWHUVHLQHQ/HKQVWXKOZRHUPLWGHP OLQNHQ $UP DXI GLH /HKQH JHVWW]W GLH %DOODGH ZHLWHU PLW DQK|UWH VR]XVDJHQ LQ JHVLFKHUWHU XQG QLFKW VR NRPLVFKHU 6WHOOXQJ ZLH YRUKHU DOV HU DXI GHP /HKQVWXKO VD /LVDZHWD 3URNRIMHZQDZLQNWHLKUHUVHLWVGHQ$QN|PPOLQJHQJHELHWHULVFK ]X VLH P|FKWHQ VWHKHQEOHLEHQ 'HU )UVW LQWHUHVVLHUWH VLFK EULJHQV VHKU IU VHLQHQ QHXHQ *DVW GHU PLW GHP *HQHUDO JHNRPPHQ ZDU HU YHUPXWHWH PLW %HVWLPPWKHLW LQ LKP -HZJHQLM 3DZORZLWVFK 5DGRPVNLM YRQ GHP HU EHUHLWV YLHO JHK|UWXQGDQGHQHUVFKRQRIWJHGDFKWKDWWH1XUPDFKWHLKQ GHVVHQ =LYLODQ]XJ VWXW]LJ GD HU JHK|UW KDWWH GD -HZJHQLM 3DZORZLWVFK 2IIL]LHU VHL (LQ VS|WWLVFKHV /lFKHOQ VSLHOWH ZlKUHQGGHUJDQ]HQ'DXHUGHU'HNODPDWLRQXPGLH/LSSHQGHV QHXHQ *DVWHV DOV KlWWH HU EHUHLWV HWZDV YRQ GHP ªDUPHQ 5LWWHU©JHK|UW ¾9LHOOHLFKWUKUWGHUJDQ]H*HGDQNHYRQLKPKHU½GDFKWHGHU )UVWLPVWLOOHQ$EHUPLW$JODMDZDUHLQHJURH9HUlQGHUXQJ YRUJHJDQJHQ 6WDWW GHU XUVSUQJOLFKHQ $IIHNWLHUWKHLW XQG :LFKWLJWXHUHL PLW GHU VLH ]XP 'HNODPLHUHQ YRUJHWUHWHQ ZDU ]HLJWH VLH HLQHQ VROFKHQ (UQVW XQG HLQ VR WLHIHV (LQGULQJHQ LQ GHQ*HLVWXQG6LQQGHVGLFKWHULVFKHQ:HUNHVVLHVSUDFKMHGHV :RUW GHV *HGLFKWHV PLW VROFKHP 9HUVWlQGQLV VLH WUXJ GLH 9HUVH PLW VR YROOHQGHWHU 6FKOLFKWKHLW YRU GD VLH DOV GLH 'HNODPDWLRQ EHHQGHW ZDU QLFKW QXU GLH DOOJHPHLQH $XIPHUNVDPNHLWJHIHVVHOWVRQGHUQDXFKGXUFKGLH:LHGHUJDEH GHV KRKHQ JHLVWLJHQ *HKDOWHV GHU %DOODGH MHQH EHVRQGHUH DIIHNWLHUWH )HLHUOLFKNHLW PLW GHU VLH VR WULXPSKLHUHQG LQ GLH
0LWWH GHU 9HUDQGD JHWUHWHQ ZDU QDFKWUlJOLFK JHZLVVHUPDHQ ]XP7HLOJHUHFKWIHUWLJWKDWWH,QGLHVHPIHLHUOLFKHQ%HQHKPHQ NRQQWH PDQ MHW]W QXU LKUH JUHQ]HQORVH XQG YLHOOHLFKW QDLYH +RFKDFKWXQJ YRU GHPMHQLJHQ VHKHQ ZDV VLH ZLHGHU]XJHEHQ XQWHUQRPPHQ KDWWH ,KUH $XJHQ OHXFKWHWHQ XQG HLQ OHLVHU NDXP EHPHUNEDUHU 6FKDXHU GHU %HJHLVWHUXQJ XQG GHV (QW]FNHQV OLHI HLQLJHPDO EHU LKU VFK|QHV *HVLFKW 6LH GHNODPLHUWH ª(LQVWPDOV OHEW¶ HLQ DUPHU 5LWWHU 6FKZHLJVDP KHU]HQVJXWXQGVFKOLFKW.KQPLWMHGHP)HLQGHVWULWWHU(UQVW XQGEODZDUVHLQ*HVLFKW ,Q 9HU]FNXQJ ZDU HUVFKLHQHQ ,KP HLQ KLPPOLVFK )UDXHQELOG1LHYHUJDHUGHVVHQ0LHQHQ+HKUXQGHGHOKROG XQGPLOG *DQ] GHU +HLOLJHQ HUJHEHQ 0LHG HU DOOH )UDX¶Q KLQIRUW *|QQW¶ LQ VHLQHP JDQ]HQ /HEHQ .HLQHP LUG¶VFKHQ :HLE HLQ :RUW 8QG HLQ 3DWHUQRVWHU WUXJ HU 8P GHQ +DOV DOV VRQGUH =LHU 1LHPDOVLQGLH+|KHVFKOXJHU9RUP*HVLFKWHGDV9LVLHU 'LHVHU5LWWHUVPDQQ JHWULHEHQ 9RQ GHV +HU]HQV UHLQHU *OXW +DWW¶DXIVHLQHQ6FKLOGJHVFKULHEHQ1)%PLWVHLQHP%OXW $OVLQVKHLO¶JH /DQG VLH NDPHQ 5LHI HLQ MHGHU &KULVWHQKHOG 6HLQHUHGOHQ'DPH1DPHQ,QGHU6FKODFKWDXIEOXW¶JHP)HOG ¾/XPHQ FRHOL VDQFWD URVD½ 5LHI MHGRFK PLW ZLOGHP %OLFN 8QVHU 5LWWHU XQG VHLQ 'URK¶Q VDK 6FKHX GHU )HLQG XQG ZLFK ]XUFN +HLPJHNHKUW ]XU %XUJ GHU 9lWHU /HEW HU IRUW HLQ WUEHU 7URSI,PPHUHLQVDPELVHUVSlWHU6WDUEQLFKWJDQ]QRUPDOLP .RSI© :HQQ GHU )UVW VSlWHU VLFK DQ GLHVHQ JDQ]HQ 9RUJDQJ HULQQHUWH VR TXlOWH HU VLFK ODQJH UDWORV PLW HLQHU IU LKQ XQO|VEDUHQ )UDJH DE ZLH HV P|JOLFK ZDU HLQH VR HFKWH
ODW /LFKWGHV+LPPHOVKHLOLJH5RVH
VFK|QH (PSILQGXQJ PLW VR RIIHQEDUHP ERVKDIWHP 6SRWW ]X YHUHLQLJHQ 'HQQ GD ZLUNOLFK 6SRWW GDKLQWHUVWHFNWH GDUDQ ]ZHLIHOWHHUQLFKWGDVIKOWHHUGHXWOLFKXQGHUKDWWH]XVHLQHU $XIIDVVXQJ VHLQH JXWHQ *UQGH EHLP 'HNODPLHUHQ KDWWH VLFK $JODMDHUODXEWGLH%XFKVWDEHQ$0'
PLWGHQ%XFKVWDEHQ 1 ) % ]X YHUWDXVFKHQ 'D KLHU NHLQ ,UUWXP XQG NHLQ 9HUK|UHQ VHLQHUVHLWV YRUODJ GDUDQ NRQQWH HU QLFKW ]ZHLIHOQ GLH )ROJH]HLW OLHIHUWH GHQ %HZHLV IU GLH 5LFKWLJNHLW VHLQHU $QVLFKW -HGHQIDOOVZDU$JODMDV$XVVFKUHLWXQJGLHVLFKHUOLFK QXUDOV6FKHU]JHPHLQWDEHUGRFKJDU]XNHFNXQGOHLFKWVLQQLJ ZDU YRUKHUEHUOHJWJHZHVHQ9RQGHPªDUPHQ5LWWHU©KDWWHQ DOOH JHVSURFKHQ XQG VLFK GDUEHU DPVLHUW VFKRQ YRU HLQHP 0RQDW8QGWURW]GHPPXWHGHU)UVWZLHVHKUHUDXFKVSlWHU VHLQ *HGlFKWQLV DQVWUHQJWH ]XJHEHQ GD $JODMD MHQH %XFKVWDEHQQLFKWQXURKQHMHGHQVFKHU]KDIWHQRGHUVS|WWLVFKHQ %HLNODQJ QLFKW QXU RKQH HLQH EHVRQGHUH %HWRQXQJ GLH LKUHQ JHKHLPHQ 6LQQ VWlUNHU KHUYRUJHKREHQ KlWWH VRQGHUQ LP *HJHQWHLO PLW VR XQYHUlQGHUWHP (UQVW PLW HLQHU VROFKHQ XQVFKXOGLJHQ QDLYHQ (LQIDFKKHLW JHVSURFKHQ KDWWH GD PDQ KlWWH GHQNHQ N|QQHQ HEHQ MHQH %XFKVWDEHQ KlWWHQ LQ GHP *HGLFKW JHVWDQGHQ XQG HV ZlUH VR LQ GHP %XFK JHGUXFNW JHZHVHQ (V ODJ LQ LKUHP 9HUKDOWHQ HWZDV ZDV GHQ )UVWHQ SHLQOLFK YHUOHW]WH /LVDZHWD 3URNRIMHZQD KDWWH HV QDWUOLFK QLFKWYHUVWDQGHQXQGZHGHUGLH9HUWDXVFKXQJ GHU %XFKVWDEHQ QRFK GLH $QVSLHOXQJ EHPHUNW *HQHUDO ,ZDQ )MRGRURZLWVFK EHJULIIZHLWHUQLFKWVDOVGDGDHLQ*HGLFKWGHNODPLHUWZXUGH 9RQGHQEULJHQ=XK|UHUQKDWWHQVHKUYLHOHGLH$XVVFKUHLWXQJ JHPHUNW XQG VLFK EHU GHUHQ .KQKHLW XQG 7HQGHQ] JHZXQGHUW DEHU VLH VFKZLHJHQ XQG EHPKWHQ VLFK KDUPORVH *HVLFKWHU ]X PDFKHQ -HZJHQLM 3DZORZLWVFK MHGRFK KDWWH GDUDXI KlWWH GHU )UVW ZHWWHQ P|JHQ QLFKW QXU YHUVWDQGHQ VRQGHUQZDUDXFKEHVWUHEWGLHVGXUFKVHLQH 0LHQH ]X ]HLJHQ HUOlFKHOWHEHUDXVVS|WWLVFKª(LQUHL]HQGHV*HGLFKW©ULHIGLH
$YH0MWHW'HL6HLJHJUW0XWWHU*RWWHV
*HQHUDOLQLQ DXIULFKWLJHP (QW]FNHQ VREDOG GLH 'HNODPDWLRQ ]X (QGH ZDU ª9RQ ZHP LVW HV GHQQ"© ª9RQ 3XVFKNLQ PDPDQ0DFKHQ6LHXQVGRFKQLFKWVROFKH6FKDQGHPDQPX VLFK MD VFKlPHQ© ULHI $GHODLGD ª,KU VWHOOW HLQHQ DEHU DXFK LPPHU DOV 'XPPNRSI KLQ© HUZLGHUWH /LVDZHWD 3URNRIMHZQD JHNUlQNW ª6FKlPW HXFK 6RZLH ZLU QDFK +DXVH NRPPHQ PW LKU PLU GLHVHV 3XVFKNLQVFKH *HGLFKW JHEHQ© ª,FK JODXEH ZLU EHVLW]HQ EHUKDXSW NHLQHQ 3XVFKNLQ© ª6HLW ZHU ZHL ZLH ODQJHU =HLW OLHJHQ EHL XQV ]ZHL UDPSRQLHUWH %lQGH KHUXP© IJWH $OH[DQGUD KLQ]X ª'DQQ VFKLFNW VRIRUW MHPDQGHQ LQ GLH 6WDGW XP HLQ ([HPSODU ]X NDXIHQ )MRGRU RGHU$OH[HM JOHLFK PLW GHP QlFKVWHQ =XJ DP EHVWHQ $OH[HM $JODMD NRPP HLQPDO KHU *LE PLU HLQHQ .X GX KDVW VHKU VFK|Q GHNODPLHUW DEHU ZHQQ GX HV HUQVW JHPHLQW KDVW© IJWH VLH EHLQDK IOVWHUQG KLQ]X ªVR WXVW GX PLU OHLG XQG ZHQQ GX LKQ KDVW YHUVSRWWHQ ZROOHQ GDQQ ELOOLJH LFK GHLQ %HQHKPHQ QLFKW GDQQ ZlUH HV MHGHQIDOOV EHVVHU JHZHVHQ GLH 'HNODPDWLRQ JDQ] ]X XQWHUODVVHQ 9HUVWDQGHQ" *HK PHLQ .LQG LFK ZHUGH QRFK PLW GLU GDUEHU UHGHQ DEHU ZLU KDEHQ KLHUVFKRQ]XODQJHJHVHVVHQ© 8QWHUGHVVHQKDWWHGHU)UVWGHQ*HQHUDO,ZDQ)MRGRURZLWVFK EHJUW XQG GHU *HQHUDO KDWWH LKP -HZJHQLM 3DZORZLWVFK 5DGRPVNLM YRUJHVWHOOW ª,FK KDEH LKQ LQ 3HWHUVEXUJ XQWHUZHJV JHWURIIHQ XQG ZLU VLQG EHLGH HEHQ HUVW PLW GHP =XJ DQJHNRPPHQ(UK|UWHGDLFKKLHUKHUJLQJHXQGGDDXFKDOOH PHLQH $QJHK|ULJHQ © ª,FK K|UWH GD DXFK 6LH KLHU LQ 3DZORZVNVHLHQ©XQWHUEUDFKLKQ-HZJHQLM3DZORZLWVFK ªXQG GD LFK PLU VFKRQ OlQJVW YRUJHQRPPHQ KDWWH QLFKW QXU ,KUH %HNDQQWVFKDIW VRQGHUQ DXFK ,KUH )UHXQGVFKDIW ]X VXFKHQ VR ZROOWH LFK NHLQH =HLW YHUOLHUHQ 6LH VLQG QLFKW ZRKO" ,FK KDEH HV HEHQ HUVW JHK|UW © ª,FK ELQ JDQ] JHVXQG XQG IUHXH PLFK VHKU6LHNHQQHQ]XOHUQHQ)UVW6FKWVFKKDWPLUYLHOYRQ,KQHQ HU]lKOW XQG LFK KDEH VRJDU YLHO PLW LKP YRQ ,KQHQ JHVSURFKHQ© DQWZRUWHWH /HZ 1LNRODMHZLWVFK LQGHP HU LKP
GLH+DQGUHLFKWH 6LHZHFKVHOWHQHLQLJHK|IOLFKH:RUWHGUFNWHQHLQDQGHUGLH +lQGHXQGEOLFNWHQVLFKJHJHQVHLWLJSUIHQGLQGLH$XJHQ(V HQWVSDQQ VLFK VRIRUW HLQH DOOJHPHLQH 8QWHUKDOWXQJ 'HU )UVW EHPHUNWH XQG HU EHPHUNWH MHW]W DOOHV UDVFK XQG HLIULJ YLHOOHLFKWVRJDU'LQJHGLHJDUQLFKWH[LVWLHUWHQ GD-HZJHQLM 3DZORZLWVFKV =LYLODQ]XJ DOOJHPHLQHV XQG XQJHZ|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lU RGHU GHU =LYLODQ]XJ EHVVHU VWHKHZDQGWHVLFKGDQQDEHUJOHLFKZLHGHUYRQLKPDEXQGVDK LKQQDFKKHUQLFKWZHLWHUDQ$XFK/LVDZHWD3URNRIMHZQDKDWWH NHLQH /XVW )UDJHQ DQ LKQ ]X ULFKWHQ REJOHLFK VLH YLHOOHLFKW HEHQIDOOV HLQLJHUPDHQ EHXQUXKLJW ZDU (V VFKLHQ GHP )UVWHQ GD -HZJHQLM 3DZORZLWVFK EHL LKU LQ 8QJQDGH VWDQG ª,FK ZDU JDQ] YHUZXQGHUW K|FKVW HUVWDXQW© HUZLGHUWH ,ZDQ )MRGRURZLWVFK DXI DOOH )UDJHQ ª,FK WUDXWH PHLQHQ $XJHQ QLFKWDOVLFKLKPYRUKLQLQ3HWHUVEXUJEHJHJQHWH8QGZDUXP VRSO|W]OLFK"'DVLVWPLUHLQ5lWVHO(UVHOEVWSURNODPLHUWHVDOV VHLQHQ*UXQGVDW]PDQPVVHVLFKVWHWVYRU+HIWLJNHLWKWHQ© %HL GHP VLFK QXQPHKU HQWZLFNHOQGHQ *HVSUlFK HUJDE VLFK GD -HZJHQLM 3DZORZLWVFK VLFK VHLQHQ %HNDQQWHQ JHJHQEHU VFKRQ ODQJH GDKLQ JHlXHUW KDWWH GD HU GHQ $EVFKLHG ]X QHKPHQ JHGHQNH DEHU HU KDWWH MHGHVPDO LQ VR ZHQLJ HUQVWHP 7RQ GDUEHU JHVSURFKHQ GD HV XQP|JOLFK ZDU LKP ]X JODXEHQ (U VSUDFK QlPOLFK DXFK YRQ HUQVWKDIWHQ 'LQJHQ
LPPHU PLW VR VFKHU]KDIWHU 0LHQH GD PDQ JDU QLFKW DXV LKP NOXJ ZHUGHQ NRQQWH EHVRQGHUV ZHQQ HU HV VHOEVW QLFKW ZQVFKWH ª,FK ELQ MD QXU ]HLWZHLOLJ DXI HLQLJH 0RQDWH K|FKVWHQVDXIHLQ-DKUDXVJHWUHWHQ©VDJWH5DGRPVNLMODFKHQG ª$EHU VRZHLW LFK ZHQLJVWHQV ,KUH 9HUKlOWQLVVH NHQQH ZDU HV GRFK JDU QLFKW QRWZHQGLJ© HUHLIHUWH VLFK GHU *HQHUDO LPPHU QRFK ª0X LFK GHQQ QLFKW DXFK HLQPDO PHLQH *WHU EHVLFKWLJHQ"6LHKDEHQHVPLUMDVHOEVWJHUDWHQ8QGDXHUGHP P|FKWHLFKDXFKLQV$XVODQGUHLVHQ© 'DV *HVSUlFK ZHQGHWH VLFK EULJHQV EDOG DQGHUHQ *HJHQVWlQGHQ ]X DEHU GLH HLJHQDUWLJH XQG LPPHU QRFK IRUWGDXHUQGH8QUXKHEHUVFKULWWGRFKQDFK0HLQXQJ GHV DOOHV EHREDFKWHQGHQ)UVWHQGLH*UHQ]HQGHV*HZ|KQOLFKHQXQGHV PXWH ZRKO HWZDV %HVRQGHUHV GDKLQWHUVWHFNHQ ª$OVR GHU ¾DUPH 5LWWHU½ LVW DXFK ZLHGHU DXIV 7DSHW JHEUDFKW"© IUDJWH -HZJHQLM3DZORZLWVFKLQGHPHUDQ$JODMDKHUDQWUDW =XU9HUZXQGHUXQJGHV)UVWHQEOLFNWHGLHVHLKQHUVWDXQWXQG IUDJHQG DQ DOV ZROOWH VLH LKP ]X YHUVWHKHQ JHEHQ GD ]ZLVFKHQLKQHQEHLGHQYRQGHPªDUPHQ5LWWHU©QLFKWGLH5HGH JHZHVHQ VHLQ N|QQH XQG GD VLH GLH )UDJH EHUKDXSW QLFKW YHUVWHKH ª$EHU HV LVW ]X VSlW YLHO ]X VSlW MHW]W QRFK LQ GLH 6WDGW]XVFKLFNHQXQGHLQHQ3XVFKNLQKROHQ]XODVVHQYLHO]X VSlW© VWULWW .ROMD KLW]LJ PLW /LVDZHWD 3URNRIMHZQD ª=XP GUHLWDXVHQGVWHQPDO VDJH LFK ,KQHQ HV LVW ]X VSlW© ª-D HV GUIWHYLHOOHLFKW]XVSlWGD]XVHLQXPMHW]WQRFKLQGLH6WDGW]X VFKLFNHQ©PLVFKWHVLFKXQYHUPXWHW-HZJHQLM3DZORZLWVFKHLQ GHU P|JOLFKVW VFKQHOO YRQ $JODMD ORV]XNRPPHQ VXFKWH ª,FK JODXEH GLH /lGHQ ZHUGHQ LQ 3HWHUVEXUJ VFKRQ JHVFKORVVHQ VHLQHVLVWMDEDOGQHXQ8KU©VDJWHHUGLH8KUKHUDXV]LHKHQG ª6LQG ZLU VR ODQJH RKQH HLQHQ 3XVFKNLQ DXVJHNRPPHQ GDQQ N|QQHQ ZLU DXFK QRFK ELV PRUJHQ ZDUWHQ© PHLQWH $GHODLGD ª8QG IU YRUQHKPH /HXWH LVW HV QLFKW HLQPDO VFKLFNOLFK VLFK IU GLH /LWHUDWXU EHVRQGHUV ]X LQWHUHVVLHUHQ© IJWH .ROMD KLQ]Xª)UDJHQ6LHQXU-HZJHQLM3DZORZLWVFK:HLWSDVVHQGHU
LQWHUHVVLHUHQ VLFK VROFKH /HXWH IU HLQHQ JHOEHQ FKDU i EDQF PLW URWHQ 5lGHUQ© ª'DV KDEHQ 6LH JHZL ZLHGHU DXV HLQHP %XFK .ROMD© EHPHUNWH $GHODLGD ª$OOHV ZDV HU VDJW KDW HU DXV %FKHUQ© VWLPPWH -HZJHQLM 3DZORZLWVFK EHL ª(U UHSURGX]LHUW JDQ]H 6lW]H DXV GHQ NULWLVFKHQ 5HYXHQ ,FK KDEH VFKRQ ODQJH GDV 9HUJQJHQ 1LNRODL $UGDOLRQRZLWVFKV 5HGHZHLVH]XNHQQHQDEHUGLHVPDOKDWHUQXQGRFKQLFKWDXV HLQHP %XFKH ]LWLHUW 1LNRODL $UGDOLRQRZLWVFK PDFKW HLQH GHXWOLFKH$QVSLHOXQJDXIPHLQHQJHOEHQFKDUiEDQFPLWURWHQ 5lGHUQ1XUKDEHLFKGLHVHQ:DJHQEHUHLWVYHUWDXVFKWVRGD 6LHPLW,KUHU%HPHUNXQJ]XVSlWNRPPHQ© 'HU )UVW K|UWH GDV ZDV 5DGRPVNLM VDJWH PLW DQ (U KDWWH GHQ (LQGUXFN GD GHVVHQ %HQHKPHQ UHFKW QHWW EHVFKHLGHQ XQGKHLWHUVHLJDQ]EHVRQGHUVJHILHOHVLKPGDHUPLW.ROMD GHULKQIRUWZlKUHQGQHFNWHDXIY|OOLJJOHLFKHP)XYHUNHKUWH XQGPLWLKPGXUFKDXVIUHXQGVFKDIWOLFKVSUDFKª:DVLVWGDV"© 0LWGLHVHU)UDJHZDQGWHVLFK /LVDZHWD3URNRIMHZQDDQ:HUD GLH7RFKWHU/HEHGHZVGLHPLWHLQLJHQ%FKHUQLQGHQ+lQGHQ YRU LKU VWDQG 'LH %FKHU KDWWHQ HLQ JURHV )RUPDW ZDUHQ YRU]JOLFK JHEXQGHQ XQG IDVW QHX ª3XVFKNLQ© DQWZRUWHWH :HUD ª8QVHU 3XVFKNLQ 3DSD KDW PLU EHIRKOHQ LKQ ,KQHQ ]X EULQJHQ© ª:LHLVWGDVJHPHLQW":LHLVWGDVP|JOLFK"©IUDJWH/LVDZHWD 3URNRIMHZQD HUVWDXQW ª1LFKW DOV *HVFKHQN QLFKW DOV *HVFKHQN'DVZUGHLFKQLFKWZDJHQ© NDP /HEHGHZKLQWHU GHU 6FKXOWHU VHLQHU 7RFKWHU KHUYRUJHVSUXQJHQ ª,FK EHUODVVH ,KQHQ GLH %FKHU ]XP 6HOEVWNRVWHQSUHLV 'LHV LVW XQVHU )DPLOLHQ3XVFKNLQ GLH $QQHQNRZVFKH $XVJDEH GLH MHW]W QLUJHQGV PHKU DXI]XWUHLEHQ LVW ± ]XP 6HOEVWNRVWHQSUHLV ,FK EULQJH LKQ ,KQHQ PLW (KUHUELHWXQJ GDU LQ GHP :XQVFK LKQ ,KQHQ]XYHUNDXIHQXQGGDGXUFKGLHHGOH8QJHGXOGGHVK|FKVW HGOHQ OLWHUDULVFKHQ ,QWHUHVVHV (XHU ([]HOOHQ] ]X EHIULHGLJHQ©
IU] RIIHQHQ:DJHQPLW%lQNHQ
ª$KGXZLOOVWLKQYHUNDXIHQ1XQGDQQGDQNHLFKVFK|Q'X VROOVWQLFKWXPGHLQ*HOGNRPPHQKDENHLQH%DQJHVFKQHLGH QXU NHLQH *HVLFKWHU 9lWHUFKHQ VHL VR JXW ,FK KDEH YRQ GLU JHK|UWGXVROOVWMDHLQVHKUEHOHVHQHU0DQQVHLQZLUSODXGHUQ VFKRQ QRFK HLQPDO PLWHLQDQGHU :LH LVW¶V" :LOOVW GX GLH %FKHU VHOEVW ]X PLU EULQJHQ"© ª0LW (KUHUELHWXQJ XQG JU|WHP 5HVSHNW© YHUVHW]WH /HEHGHZ K|FKVW ]XIULHGHQ XQWHU VWDUNHP *HVLFKWHUVFKQHLGHQ XQG QDKP VHLQHU 7RFKWHU GLH %FKHUDEª1DYHUOLHUHVLHQXUQLFKWZHQQGXVLHKLQEULQJVW (KUHUELHWXQJ LVW GDEHL QLFKW YRQQ|WHQ $EHU LFK VDJH GLU YRUKHU© IJWH VLH LKQ IHVW DQEOLFNHQG KLQ]X ªEHU GLH 6FKZHOOH ODVVH LFK GLFK QLFKW GLFK KHXWH ]X HPSIDQJHQ GDV OLHJW QLFKW LQ PHLQHU $EVLFKW 'HLQH 7RFKWHU :HUD NDQQVW GX PLU DEHU JOHLFK KLQVFKLFNHQ GLH KDW PLU VHKU JHIDOOHQ© ª:DUXP VDJHQ 6LH GHQQ QLFKWV YRQ MHQHQ /HXWHQ"© ZDQGWH VLFK:HUDXQJHGXOGLJDQLKUHQ9DWHU ª6RQVWZHUGHQVLHQRFK XQDXIJHIRUGHUW KHUHLQNRPPHQ VLH KDEHQ VFKRQ DQJHIDQJHQ /lUP]XPDFKHQ/HZ1LNRODMHZLWVFK©ZDQGWHVLHVLFKDQGHQ )UVWHQGHUEHUHLWVQDFKVHLQHP+XWJHJULIIHQKDWWH ªGDVLQG VFKRQ YRU OlQJHUHU =HLW YLHU 0HQVFKHQ JHNRPPHQ GLH ]X ,KQHQZROOHQ6LHZDUWHQLQXQVHUHU:RKQXQJXQGVFKLPSIHQ DEHU3DSDZLOOVLHQLFKW]X,KQHQKHUHLQODVVHQ©ª:DVVLQGGDV IU%HVXFKHU"©IUDJWHGHU)UVWª6LHVDJHQVLHNlPHQLQHLQHU JHVFKlIWOLFKHQ$QJHOHJHQKHLW©HUZLGHUWH:HUDª$EHUHVVLQG 0HQVFKHQ YRQ VROFKHU $UW GD VLH ZHQQ VLH MHW]W QLFKW YRUJHODVVHQZHUGHQVLFKQLFKWVFKHXHQZHUGHQ6LHHLQPDODXI GHU 6WUDH DQ]XKDOWHQ (V ZLUG GDV EHVWH VHLQ ZHQQ 6LH VLH YRUODVVHQ /HZ 1LNRODMHZLWVFK XQG VLH GDQQ HLQ IU DOOHPDO DEVFKWWHOQ *DZULOD $UGDOLRQRZLWVFK XQG 3WL]\Q UHGHQ GRUW DXI VLH HLQ DEHU VLH K|UHQ QLFKW GDUDXI© ª(V LVW 3DZOLVFKWVFKHZV6RKQHVLVW3DZOLVFKWVFKHZV6RKQ(ULVWHV QLFKW ZHUW HU LVW HV QLFKW ZHUW© ULHI /HEHGHZ PLW OHEKDIWHP $UPVFKZHQNHQ ª'LH /HXWH VLQG QLFKW ZHUW GD PDQ VLH DQK|UWXQGHVVFKLFNWVLFKJDUQLFKWGD6LHGXUFKODXFKWLJVWHU
)UVW VLFK LKUHWZHJHQ VW|UHQ ODVVHQ 6R LVW HV 'LH 0HQVFKHQ YHUGLHQHQ HV QLFKW © ª3DZOLVFKWVFKHZV 6RKQ 0HLQ *RWW© ULHI GHU )UVW LQ JU|WHU 9HUOHJHQKHLW ª,FK ZHL DEHU LFK KDWWH MD LFK KDWWH MD *DZULOD $UGDOLRQRZLWVFK PLW GHU (UOHGLJXQJGLHVHU6DFKHEHDXIWUDJW(EHQKDWPLUQRFK*DZULOD $UGDOLRQRZLWVFKJHVDJW© $EHU *UDZULOD $UGDOLRQRZLWVFK NDP EHUHLWV DXV GHQ =LPPHUQ DXI GLH 9HUDQGD KHUDXV LKP IROJWH 3WL]\Q ,Q GHP QlFKVWHQ =LPPHU K|UWH PDQ /lUP XQG GLH ODXWH 6WLPPH GHV *HQHUDOV ,ZROJLQ GHU ZLH HV VFKLHQ HLQLJH DQGHUH 6WLPPHQ ]XEHUVFKUHLHQVXFKWH.ROMDOLHIVRJOHLFKGDKLQZRGHU/lUP ZDU ª'DV LVW VHKU LQWHUHVVDQW© EHPHUNWH -HZJHQLM 3DZORZLWVFKODXW ¾$OVRLVWHURULHQWLHUW½GDFKWHGHU )UVW ª:DVIUHLQ6RKQ 3DZOLVFKWVFKHZV" 8QG ZDV NDQQ GDV IU HLQ 6RKQ 3DZOLVFKWVFKHZV VHLQ"© IUDJWH GHU *HQHUDO ,ZDQ )MRGRURZLWVFK HUVWDXQW GHU QHXJLHULJ VHLQHQ %OLFN EHU DOOH *HVLFKWHU VFKZHLIHQ OLH XQG PLW 9HUZXQGHUXQJ EHPHUNWH GDGLHVHQHXH*HVFKLFKWHQXULKPDOOHLQXQEHNDQQWZDU ,QGHU7DWGLH$XIUHJXQJXQG6SDQQXQJZDUDOOJHPHLQ'HU )UVWZDUK|FKVWYHUZXQGHUWGDGLHVHVHLQH UHLQSHUV|QOLFKH $QJHOHJHQKHLW EHUHLWV GDV ,QWHUHVVH DOOHU $QZHVHQGHQ LQ VR KRKHP *UDG HUUHJW KDWWH ª(V ZLUG VHKU JXW VHLQ ZHQQ 6LH GLHVH$QJHOHJHQKHLWVRJOHLFKXQGSHUV|QOLFKHUOHGLJHQ©VDJWH $JODMD GLH PLW EHVRQGHUV HUQVWHU 0LHQH ]XP )UVWHQ KLQWUDW ª8QGXQVDOOHQZROOHQ6LHELWWHHUODXEHQ,KUH=HXJHQ]XVHLQ 0DQ ZLOO 6LH PLW 6FKPXW] EHZHUIHQ )UVW VLH PVVHQ VLFK IHLHUOLFK UHFKWIHUWLJHQ XQG LFK IUHXH PLFK VFKRQ LP YRUDXV KHU]OLFK IU 6LH© ª$XFK LFK ZUGH ZQVFKHQ GD GLHVH JDUVWLJH 3UlWHQWLRQ HQGOLFK HLQPDO ]X (QGH NlPH© ULHI GLH *HQHUDOLQ ª*LE HV LKQHQ RUGHQWOLFK )UVW VFKRQH VLH QLFKW ,FKKDEHVFKRQVRYLHOYRQGLHVHU$IIlUHK|UHQPVVHQXQGHV LVW PLU RIW JHQXJ GLH *DOOH EHUJHODXIHQ $EHU HV ZLUG LQWHUHVVDQW VHLQ GLHVH 0HQVFKHQ HLQPDO DQ]XVHKHQ 5XIH VLH
KHUHLQXQGZLUZROOHQXQVZLHGHUKLQVHW]HQ$JODMDV5DWZDU JXW+DEHQ6LHYRQGLHVHU$QJHOHJHQKHLWHWZDVJHK|UW)UVW"© ZDQGWH VLH VLFK DQ )UVW 6FKWVFK ª*HZL LFK KDEH GDYRQ JHK|UWXQG]ZDUEHL,KQHQ$EHUHVUHL]WPLFKJDQ]EHVRQGHUV PLU GLHVH MXQJHQ /HXWH DQ]XVHKHQ© HUZLGHUWH )UVW 6FKWVFK ª(VVLQGZRKO1LKLOLVWHQ QLFKW ZDKU"© ª1HLQ 1LKLOLVWHQ VLQG VLHHLJHQWOLFKQLFKW©VDJWH/HEHGHZYRUWUHWHQGDXFKHU]LWWHUWH YRU $XIUHJXQJ ª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|UHQVDJHQ 'LHVH /HXWH VSUHFKHQ VLFK QLFKW LQ HLQHP =HLWXQJVDUWLNHO DXV VRQGHUQ VFKUHLWHQ VRIRUW ]XU 7DW HV LVW ]XP %HLVSLHO QLFKW GDYRQ GLH 5HGH RE 3XVFKNLQ VLQQORV LVW RGHU RE 5XODQG LQ VHLQH7HLOH]HUIDOOHQPXQHLQGLHVH0HQVFKHQEHWUDFKWHQHV MHW]W JHUDGH]X DOV LKU 5HFKW ZHQQ VLH QDFK HWZDV 9HUODQJHQ WUDJHQYRUNHLQHP+LQGHUQLVKDOW]XPDFKHQXQGZHQQVLHDFKW 3HUVRQHQ GDEHL DEPXUNVHQ PWHQ $EHU LFK ZUGH ,KQHQ GRFKQLFKWUDWHQ)UVW© $EHUGHU)UVWJLQJVFKRQ]XU7UXPVLHGHQ%HVXFKHUQ]X |IIQHQ ª6LH YHUOHXPGHQ GLH /HXWH /HEHGHZ© VDJWH HU OlFKHOQG ª6LH KDEHQ VLFK ]X VHKU EHU ,KUHQ 1HIIHQ JHlUJHUW *ODXEHQ 6LH LKP QLFKW /LVDZHWD 3URNRIMHZQD ,FK YHUVLFKHUH ,KQHQ GLH /HXWH ZLH *RUVNLM XQG 'DQLORZ VLQG QXU VHOWHQH $XVQDKPHQ GLHVH /HXWH KLHU VLQG QXU LQ HLQHP ,UUWXP EHIDQJHQ$EHUHVZlUHPLUQLFKWOLHEZHQQGLH6DFKHKLHULQ *HJHQZDUW DOOHU YHUKDQGHOW ZUGH 9HU]HLKHQ 6LH DOVR /LVDZHWD 3URNRIMHZQD VLH ZHUGHQ KHUHLQNRPPHQ LFK ZHUGH
VLH,KQHQ]HLJHQXQGGDQQZHJIKUHQ7UHWHQ6LHQlKHUPHLQH +HUUHQ© :DV LKQ EHXQUXKLJWH ZDU PHKU HLQ DQGHUHU LKP SHLQOLFKHU *HGDQNH,QVHLQHP.RSIZDUGLH)UDJHDXIJHWDXFKWZDUQLFKW YLHOOHLFKW GLHVH JDQ]H 6DFKH YRQ MHPDQGHP NQVWOLFK LP YRUDXV DUUDQJLHUW JHUDGH ]X GLHVHU =HLW XQG 6WXQGH ZR GLHVH =HXJHQ ]XJHJHQ ZDUHQ XQG ]ZDU YLHOOHLFKW DUUDQJLHUW LQ GHU (UZDUWXQJ GD VLH QLFKW PLW VHLQHP 7ULXPSK VRQGHUQ PLW VHLQHU %HVFKlPXQJ HQGHQ ZHUGH" $EHU HU ZDU JDQ] EHWUEW EHU GLHVHQ ªXQJHKHXHUOLFKHQ VFKlQGOLFKHQ $UJZRKQ© (U PWH MD PHLQWH HU YRU 6FKDP LQ GLH (UGH VLQNHQ ZHQQ MHPDQG HUIKUH GD HU VR HWZDV GHQNH XQG LQ GHP $XJHQEOLFNDOVGLHQHXHQ%HVXFKHUHLQWUDWHQZDUHUDXIULFKWLJ EHUHLW ]X JODXEHQ GD HU VLWWOLFK DXI HLQHP ZHLW QLHGULJHUHQ 6WDQGSXQNWHVWHKHDOVLUJHQGHLQHUGHUEULJHQ$QZHVHQGHQ (V WUDWHQ IQI 3HUVRQHQ HLQ YLHU GDYRQ ZDUHQ GLH QHXHQ *lVWH XQG DOV IQIWHU IROJWH LKQHQ *HQHUDO ,ZROJLQ JDQ] HUHLIHUW LQ $XIUHJXQJ XQG LQ HLQHP VWDUNHQ $QIDOO YRQ 5HGHOXVW ¾'HU ZHQLJVWHQV LVW DXI PHLQHU 6HLWH½ GDFKWH GHU )UVW OlFKHOQG .ROMD VFKOSIWH PLW GHQ DQGHUQ ]XVDPPHQ KHUHLQ(UVSUDFKHLIULJPLW,SSROLWGHU]XGHQ$QN|PPOLQJHQ JHK|UWH,SSROLWK|UWHLKQDQXQGOlFKHOWH 'HU)UVWEDWGLH %HVXFKHU3ODW]]XQHKPHQ(VZDUHQ IDVW DOOH QRFK VR MXJHQGOLFKH XQG VRJDU PLQGHUMlKULJH /HXWH GD PDQ VLFK EHU GHQ JDQ]HQ 9RUIDOO XQG GLH GDGXUFK KHUYRUJHUXIHQH $XIUHJXQJ ZXQGHUQ NRQQWH 1DPHQWOLFK ZDU ,ZDQ )MRGRURZLWVFK -HSDQWVFKLQ GHU YRQ GLHVHU ªQHXHQ $IIlUH©QLFKWVZXWHXQGQLFKWVYHUVWDQGJHUDGH]XHPS|UWDOV HU GLHVH MXQJH *HVHOOVFKDIW HUEOLFNWH XQG KlWWH VLFKHUOLFK LUJHQGZLH (LQVSUXFK HUKREHQ ZHQQ LKQ QLFKW GHU LKP PHUNZUGLJ HUVFKHLQHQGH 8PVWDQG GDYRQ ]XUFNJHKDOWHQ KlWWH GD VHLQH *DWWLQ DQ GHQ 3ULYDWDQJHOHJHQKHLWHQ GHV )UVWHQ VR ZDUPHQ $QWHLO QDKP (U EOLHE EULJHQV WHLOV DXV 1HXJLHUWHLOVDXV*XWKHU]LJNHLWVRJDULQGHU+RIIQXQJKHOIHQ
XQG MHGHQIDOOV GXUFK VHLQH $XWRULWlW YRQ 1XW]HQ VHLQ ]X N|QQHQDEHUGLH9HUEHXJXQJGLHLKPGHUHLQWUHWHQGH*HQHUDO ,ZROJLQ PDFKWH YHUVWLPPWH LKQ YRQ QHXHP HU UXQ]HOWH GLH 6WLUQXQGQDKPVLFKYRUKDUWQlFNLJ]XVFKZHLJHQ 8QWHU GHQ YLHU %HVXFKHUQ ZDU EULJHQV HLQHU GHU GUHLLJMlKULJH ª/HXWQDQW D ' GHU %R[HU DXV GHU 5RJRVKLQVFKHQ 5RWWH GHU IUKHU VHOEVW MHGHP %LWWVWHOOHU IQI ]HKQ5XEHOJHJHEHQKDWWH©(VODJGLH9HUPXWXQJQDKHGDHU GLH EULJHQ LQ GHU (LJHQVFKDIW HLQHV DXIULFKWLJHQ )UHXQGHV EHJOHLWHWH XP LKQHQ 0XW ]X PDFKHQ XQG Q|WLJHQIDOOV ]X XQWHUVWW]HQ8QWHUGHQEULJHQQDKPMHQHUGLHHUVWH6WHOOHHLQ XQG VSLHOWH JDQ] GLH HUVWH 5ROOH GHU DOV ª3DZOLVFKWVFKHZV 6RKQ© EH]HLFKQHW ZXUGH REZRKO HU VLFK PLW GHP 1DPHQ $QWLS %XUGRZVNLM YRUVWHOOWH (V ZDU GLHV HLQ MXQJHU 0DQQ lUPOLFK XQG VFKODPSLJ JHNOHLGHW LQ HLQHP hEHUURFN GHVVHQ bUPHO VR IHWWLJ ZDUHQ GD VLH VSLHJHOWHQ PLW HLQHU XQVDXEHUHQELVREHQ]XJHNQ|SIWHQ:HVWHRKQHDOOHVLFKWEDUH :lVFKH PLW HLQHP VFKZDU]VHLGHQHQ XQJODXEOLFK VSHFNLJHQ ]X HLQHP 6WULFN ]XVDPPHQJHGUHKWHQ +DOVWXFK XQJH ZDVFKHQHQ+lQGHQHLQHP*HVLFKWGDVJDQ]PLW3LFNHOQEHVlW ZDU EORQGHP +DDU XQG ZHQQ PDQ VLFK VR DXVGUFNHQ NDQQ XQVFKXOGLJIUHFKHP %OLFN (U ZDU YRQ NOHLQHU 6WDWXU PDJHU XQG XQJHIlKU ]ZHLXQG]ZDQ]LJ -DKUH DOW $XI VHLQHP *HVLFKW ZDU QLFKW GLH JHULQJVWH 6SXU YRQ ,URQLH RGHU EHUKDXSW YRQ 'HQNWlWLJNHLW DXVJHSUlJW VRQGHUQ QXU HLQH YROOVWlQGLJH VWXPSIH%HUDXVFKWKHLWYRQGHP%HZXWVHLQVLFKLP5HFKW]X EHILQGHQ XQG JOHLFK]HLWLJ HLQ VRQGHUEDUHUZHLVH ]XP VWHWHQ %HGUIQLV JHZRUGHQHV *HIKO DOV VHL HU EHOHLGLJW ZRUGHQ (U VSUDFK LQ HUUHJWHP 7RQ KHIWLJ XQG VWRFNHQG HLQ]HOQH :RUWH QLFKWJDQ]]X(QGHEULQJHQGDOVZlUHHUHLQ6WRWWHUHURGHUJDU HLQ $XVOlQGHU REJOHLFK HU EULJHQV UHLQ UXVVLVFKHU $ENXQIW ZDU (V EHJOHLWHWHQ LKQ HUVWHQV GHU GHQ /HVHUQ EHUHLWV EHNDQQWH 1HIIH /HEHGHZV XQG ]ZHLWHQV ,SSROLW ,SSROLW ZDU HLQ VHKU
MXQJHU 0HQVFK HWZD VLHE]HKQ YLHOOHLFKW DXFK DFKW]HKQ -DKUH DOW PLW HLQHP NOXJHQ *HVLFKW GDV DEHU EHVWlQGLJ GHQ $XVGUXFN GHU *HUHL]WKHLW WUXJ XQG GLH VFKUHFNOLFKHQ 6SXUHQ VHLQHU .UDQNKHLW ]HLJWH (U ZDU PDJHU ZLH HLQ 6NHOHWW PLW EODJHOEHU +DXW VHLQH $XJHQ IXQNHOWHQ XQG DXI VHLQHQ %DFNHQEUDQQWHQ]ZHLURWH)OHFNHQ(UKXVWHWHEHVWlQGLJMHGHV :RUWIDVWMHGHU$WHP]XJZDUYRQHLQHP5|FKHOQEHJOHLWHW(U EHIDQG VLFK RIIHQEDU LP K|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ª$QWLS %XUGRZVNLM© VDJWH GHU ª6RKQ 3DZOLVFKWVFKHZV© KDVWLJ XQG VWRFNHQG ª:ODGLPLU 'RNWRUHQNR© VWHOOWH VLFK PLW NODUHU GHXWOLFKHU $XVVSUDFKH /HEHGHZV 1HIIH YRU HV NODQJ DOV EUVWH HU VLFK PLW VHLQHP 1DPHQ ª.HOOHU© PXUPHOWH GHU /HXWQDQW D ' ª,SSROLW 7HUHQWMHZ© VDJWH GHU OHW]WH PLW HLQHU 6WLPPH GHUHQ NUHLVFKHQGHU 7RQ HWZDV hEHUUDVFKHQGHV KDWWH $OOH KDWWHQ HQGOLFK LQ HLQHU 5HLKH DXI 6WKOHQ GHP )UVWHQ JHJHQEHU 3ODW] JHQRPPHQ ]HLJWHQ QDFKGHP VLH VLFK YRUJHVWHOOW KDWWHQ VRIRUW ILQVWHUH *HVLFKWHU XQG VFKREHQ XP VLFK 0XW ]X PDFKHQ LKUH 0W]HQ YRQ HLQHU +DQG LQ GLH DQGHUH DOOH EHUHLWHWHQ VLHK GDUDXI YRU ]X UHGHQ VFKZLHJHQ DEHU WURW]GHP VlPWOLFK VLH VFKLHQHQ DXI HWZDV PLW KHUDXVIRUGHUQGHU 0LHQH ]X ZDUWHQ LQ GHU JOHLFKVDP ]X OHVHQ ZDU¾1HLQ%UXGHUGDLUUVWGXGLFKGXZLUVWPLFKQLFKWEHUV 2KUKDXHQ½0DQKDWWHGDV*HIKOGDMHPDQG]X$QIDQJQXU GDVHUVWH:RUWQXUHLQHLQ]LJHV:RUW]XVDJHQEUDXFKHGDQQ ZUGHQ VLH VRIRUW DOOH ]XVDPPHQ VLFK JHJHQVHLWLJ
XQWHUEUHFKHQG XQG HLQDQGHU ]XYRUNRPPHQG ]X UHGHQ EHJLQQHQ
9,,, ª0HLQH +HUUHQ LFK KDEH QLHPDQG YRQ ,KQHQ HUZDUWHW© EHJDQQGHU)UVWªLFKVHOEVWELQELVKHXWHNUDQNJHZHVHQ,KUH $QJHOHJHQKHLW DEHU© HU ZDQGWH VLFK DQ $QWLS %XUGRZVNLM ªKDWWH LFK VFKRQ YRU HLQHP 0RQDW *DZULOD $UGDOLRQRZLWVFK ,ZROJLQ ]XU (UOHGLJXQJ EHUJHEHQ ZRYRQ LFK 6LH JOHLFK GDPDOV EHQDFKULFKWLJW KDEH hEULJHQV ZLOO LFK HLQHU SHUV|QOLFKHQ $XVVSUDFKH QLFKW DXVZHLFKHQ QXU ZHUGHQ 6LH VHOEVW ]XJHEHQ GD HV GD]X VFKRQ HWZDV VSlW DP 7DJH LVW ,FK P|FKWH ,KQHQ YRUVFKODJHQ PLW PLU LQ HLQ =LPPHU ]X JHKHQZHQQ HVQLFKW]XODQJHGDXHUW +LHU VLQG MHW]W PHLQH )UHXQGH XQG VHLHQ 6LH EHU]HXJW © ª)UHXQGH N|QQHQ GDEHLVHLQ VRYLHO 6LH ZROOHQ DEHU HUODXEHQ 6LH© XQWHUEUDFK LKQSO|W]OLFKLQVHKUDQPDHQGHP7RQIUHLOLFKRKQHQRFKGLH 6WLPPHEHVRQGHUV]XHUKHEHQ/HEHGHZV1HIIHªHUODXEHQ6LH PLU ,KQHQ ]X EHPHUNHQ GD 6LH XQV KlWWHQ K|IOLFKHU EHKDQGHOQ N|QQHQ XQG XQV QLFKW ]ZHL 6WXQGHQ ODQJ LQ ,KUHU *HVLQGHVWXEHKlWWHQZDUWHQ]XODVVHQEUDXFKHQ© ª*HZL DXFKLFK'DVLVWVRUHFKWIUVWHQPlLJ6LHIUHLOLFKVSLHOHQ VLFK DOV *HQHUDO DXI DEHU LFK ELQ QLFKW ,KU /DNDL 8QG LFK LFK©PXUPHOWH$QWLS%XUGRZVNLMLQJURHU$XIUHJXQJPLW EHEHQGHQ /LSSHQ 6SHLFKHOWU|SIFKHQ IORJHQ LKP DXV GHP 0XQGH HV ZDU DOV ZHQQ HU MHGHQ $XJHQEOLFN EHUVWHQ XQG SODW]HQ ZROOWH $EHU HU EHUKDVWHWH VLFK VR GD QDFK HLQHP 'XW]HQG :RUWH QLFKWV PHKU ]X YHUVWHKHQ ZDU ª'DV ZDU VR UHFKW IUVWHQPlLJ© VFKULH ,SSROLW PLW VHLQHU NUHLVFKHQGHQ
ULVVLJHQ6WLPPH ª:HQQPLUGDVSDVVLHUWZlUH©EUXPPWHGHU %R[HU ªGDV KHLW ZHQQ VLFK GLHVHV %HQHKPHQ GLUHNW JHJHQ PLFK DOV DQVWlQGLJHQ 0HQVFKHQ ULFKWHWH GDQQ KlWWH LFK DQ %XUGRZVNLMV6WHOOHMDGDQQKlWWHLFK©ª0HLQH+HUUHQLFK KDEH HUVW GLHVHQ $XJHQEOLFN HUIDKUHQ GD 6LH KLHU VLQG EHL *RWW© HUZLGHUWH GHU )UVW ª:LU IUFKWHQ XQV QLFKW YRU ,KUHQ )UHXQGHQ )UVW ZHU HV DXFK LPPHU VHLQ PDJ ZHLO ZLU LQ XQVHUP 5HFKW VLQG© HUNOlUWH ZLHGHU /HEHGHZV 1HIIH ª*HVWDWWHQ 6LH LQGHVVHQ GLH )UDJH© NUHLVFKWH ZLHGHU ,SSROLW GHUDEHUMHW]WVFKRQVHKUKLW]LJJHZRUGHQZDUªZHOFKHV5HFKW KDEHQ 6LH %XUGRZVNLMV $QJHOHJHQKHLW GHP 8UWHLO ,KUHU )UHXQGH ]X XQWHUEUHLWHQ" :LU ZQVFKHQ YLHOOHLFKW JDU QLFKW GD ,KUH )UHXQGH GDUEHU XUWHLOHQ HV LVW QXU ]X NODU ZDV GDV 8UWHLO LKUHU )UHXQGH IU HLQHQ :HUW KDW © ª$EHU ZHQQ 6LH +HUU%XUGRZVNLMKLHUQLFKW]XVSUHFKHQZQVFKHQ©VDJWHGHU )UVWDOVHVLKPHQGOLFKJHODQJ]X:RUWH]XNRPPHQ±HUZDU EHUGLHVHQ$QIDQJGHV*HVSUlFKHVDXHURUGHQWOLFKHUVWDXQW± ªVR ODVVHQ 6LH XQV ZLH VFKRQ JHVDJW JOHLFK LQ HLQ =LPPHU JHKHQ 'DYRQ DEHU GD 6LH DOOH KLHU VLQG KDEH LFK ZLH LFK ,KQHQQRFKPDOVEHPHUNHHUVWLQGLHVHP$XJHQEOLFNJHK|UW© ª$EHU6LHKDEHQNHLQ5HFKW6LHKDEHQNHLQ5HFKW6LHKDEHQ NHLQ 5HFKW ,KUH )UHXQGH 'D © VWRWWHUWH %XUGRZVNLM YRQ QHXHP (U VDK VFKHX XQG lQJVWOLFK XP VLFK XQG HUHLIHUWH VLFKLPPHUPHKUMHPHKUVHLQ6HOEVWYHUWUDXHQVDQNXQGVHLQH )XUFKWZXFKVª6LHKDEHQNHLQ5HFKW©1DFKGHPHUGDVJHVDJW KDWWHEUDFKHUJDQ]SO|W]OLFKDEDOVREHUQLFKWVZHLWHUZWH XQG VWXPP VHLQH NXU]VLFKWLJHQ VWDUN KHUYRUVWHKHQGHQ PLW GLFNHQ URWHQ bGHUFKHQ GXUFK]RJHQHQ $XJHQ DXIUHLHQG VWDUUWH HU PLW GHP JDQ]HQ 2EHUN|USHU YRUQEHUJHEHXJW GHQ )UVWHQDQ'LHVPDOZDUGHU)UVWVRYHUZXQGHUWGDDXFKHU YHUVWXPPWH XQG LKQ JOHLFKIDOOV PLW ZHLWJH|IIQHWHQ $XJHQ RKQHHLQ:RUW]XVDJHQDQVDKª/HZ1LNRODMHZLWVFK©ULHIDXI HLQPDO /LVDZHWD 3URNRIMHZQD ª/LHV GRFK GLHV KLHU JOHLFK HLQPDO YRU DXJHQEOLFNOLFK 'DV KDW DXI GHLQH $QJHOHJHQKHLW
XQPLWWHOEDUHQ%H]XJ© 6LHKLHOWLKPHLOLJHLQHKXPRULVWLVFKH:RFKHQVFKULIWKLQXQG ZLHV PLW GHP )LQJHU DXI HLQHQ $UWLNHO /HEHGHZ ZDU LQ GHP $XJHQEOLFN DOV GLH QHXHQ *lVWH QRFK LP +HUHLQNRPPHQ EHJULIIHQ ZDUHQ YRQ GHU 6HLWH ]X /LVDZHWD 3URNRIMHZQD KHUDQJHVSUXQJHQXPGHUHQ*XQVWHUVLFKVHKUEHPKWHKDWWH RKQH HLQ :RUW ]X VDJHQ DXV GHU 6HLWHQWDVFKH VHLQHV 5RFNHV GLHVH =HLWVFKULIW KHUDXVJH]RJHQ VLH LKU JHUDGH YRU GLH $XJHQ JHKDOWHQ XQG DXI HLQH DQJHVWULFKHQH 6SDOWH KLQJH]HLJW 'XUFK GDV ZDV /LVDZHWD 3URNRIMHZQD EHUHLWV GDYRQ JHOHVHQ KDWWH ZDU VLH LQ JHZDOWLJH 9HUZXQGHUXQJ XQG (QWUVWXQJ YHUVHW]W ZRUGHQ ª:lUH HV DEHU QLFKW EHVVHU HV QLFKW ODXW ]X OHVHQ© VWDPPHOWH GHU )UVW VHKU YHUOHJHQ ªLFK ZUGH HV OLHEHU IU PLFKDOOHLQOHVHQVSlWHU© ª'DQQOLHVGXHVOLHEHUYRUVRIRUWODXW/DXW©ZDQGWHVLFK /LVDZHWD 3URNRIMHZQD DQ .ROMD XQG UL GHP )UVWHQ GLH =HLWVFKULIWGLHHUQRFKNDXPEHUKUWKDWWHXQJHGXOGLJDXVGHQ +lQGHQª/LHVHVDOOHQODXWYRUGDPLWHVMHGHUK|UW© /LVDZHWD 3URNRIMHZQD ZDU HLQH KHLEOWLJH OHLGHQ VFKDIWOLFKH 'DPH VR GD VLH PDQFKPDO SO|W]OLFK RKQH ODQJH ]X EHUOHJHQ DOOH $QNHU OLFKWHWH XQG XQEHNPPHUW XP GDV :HWWHU DXIV KRKH 0HHU KLQDXVIXKU ,ZDQ )MRGRURZLWVFK EHZHJWHVLFKXQUXKLJKLQXQGKHU$EHUZlKUHQGDOOHLPHUVWHQ $XJHQEOLFN XQZLOONUOLFK VWDUU ZDUHQ XQG YHUZXQGHUW ZDUWHWHQ ZDV GD NRPPHQ ZHUGH KDWWH .ROMD GLH =HLWVFKULIW DXVHLQDQGHUJHVFKODJHQXQGEHJDQQQXQODXWYRQGHU6WHOOHDQ ]X OHVHQ GLH LKP GHU KLQ]XVSULQJHQGH /HEHGHZ ]HLJWH ª3UROHWDULHU XQG 1DFKIDKUHQ (LQH (SLVRGH DXV GHP WlJOLFKHQ XQG DOOWlJOLFKHQ 5lXEHUZHVHQ )RUWVFKULWW 5HIRUP *HUHFKWLJNHLW 6HOWVDPH 'LQJH NRPPHQ LQ XQVHUHP VRJHQDQQWHQ KHLOLJHQ 5XODQG YRU LP =HLWDOWHU GHU 5HIRUPHQ XQG XQWHUQHKPXQJVOXVWLJHQ $NWLHQJHVHOOVFKDIWHQ LP =HLWDOWHU GHV 1DWLRQDOJHIKOV XQG GHU MlKUOLFKHQ $XVIXKU +XQGHUWHU YRQ
0LOOLRQHQ LQV $XVODQG LP =HLWDOWHU GHU )|UGHUXQJ GHU ,QGXVWULH XQG GHU /lKPXQJ GHU $UEHLWHUKlQGH XQG VR ZHLWHU XQGVRZHLWHUPDQ NDQQ QLFKW DOOHV DXI]lKOHQ PHLQH +HUUHQ GDKHU NRPPHQ ZLU VRIRUW ]XU 6DFKH (V KDW VLFK HLQH VRQGHUEDUH *HVFKLFKWH ]XJHWUDJHQ PLW HLQHP GHU 6SU|OLQJH XQVHUHV HKHPDOLJHQ *XWVKHUUQVWDQGHV GH SURIXQGLV HLQHP MHQHU 6SU|OLQJH GHUHQ *URYlWHU LKU 9HUP|JHQ EHLP 5RXOHWWHYHUVSLHOWHQGHUHQ9lWHUVLFKGDKHUJHQ|WLJWVDKHQDOV )lKQULFKH XQG /HXWQDQWV ]X GLHQHQ XQG JHZ|KQOLFK LP $QNODJH]XVWDQGZHJHQLUJHQGHLQHVKDUPORVHQ'HIL]LWVEHLGHQ 6WDDWVJHOGHUQ VWDUEHQ XQG GHUHQ .LQGHU GDQQ ZLH GHU +HOG XQVHUHU(U]lKOXQJHQWZHGHUDOV,GLRWHQDXIZDFKVHQRGHUVRJDU LQ .ULPLQDODIIDUHQ KLQHLQJHUDWHQ EHL GHQHQ VLH EULJHQV ]XP =ZHFN LKUHU %HVVHUXQJ XQG ]XU (UEDXXQJ DQGHUHU YRQ GHQ *HVFKZRUHQHQIUHLJHVSURFKHQ]XZHUGHQSIOHJHQ RGHUHQGOLFK ]X JXWHU /HW]W HLQH MHQHU *HVFKLFKWHQ ORVODVVHQ GLH GDV 3XEOLNXP LQ (UVWDXQHQ YHUVHW]HQ XQG XQVHUHP DQ VLFK VFKRQ KLQUHLFKHQG VFKPlKOLFKHQ =HLWDOWHU 6FKDQGH PDFKHQ 8QVHU $GHOVVSU|OLQJ NHKUWH YRU HLQHP KDOEHQ -DKU PLW DXVOlQGLVFKHQ*DPDVFKHQDQJHWDQXQGLQHLQHPXQJHIWWHUWHQ 0lQWHOFKHQYRU.lOWH]LWWHUQGLP:LQWHUDXVGHU6FKZHL]ZR HU HLQH .XU JHJHQ VHLQH ,GLRWLH JHPDFKW KDWWH VLH QDFK 5XODQG]XUFN0DQPXEHNHQQHQGDHU*OFNKDWWHGHQQ JDQ]DEJHVHKHQYRQVHLQHULQWHUHVVDQWHQ.UDQNKHLWYRQGHUHU VLFK LQ GHU 6FKZHL] NXULHUHQ OLH LVW GHQQ ,GLRWLH EHUKDXSW KHLOEDU VWHOOHQ 6LH VLFK GDV QXU HLQPDO YRU" N|QQWH HU DQ VHLQHU 3HUVRQ GLH :DKUKHLW GHV UXVVLVFKHQ 6SULFKZRUWHV EHZHLVHQ ¾(LQH JHZLVVH 6RUWH YRQ 0HQVFKHQ KDW LPPHU *OFN½8UWHLOHQ6LHVHOEVW QDFK GHP 7RG VHLQHV 9DWHUV GHU ZLHHVKHLWDOV /HXWQDQWLQGHU8QWHUVXFKXQJVKDIW JHVWRUEHQ LVW ZHLO HU LP .DUWHQVSLHO GLH JDQ]HQ .RPSDQLHJHOGHU YHUORUHQ RGHU YLHOOHLFKW DXFK HLQHP 8QWHUJHEHQHQ HLQH EHUPlLJH 3RUWLRQ 5XWHQKLHEH KDWWH YHUDEUHLFKHQ ODVVHQ YHUJHVVHQ6LHQLFKWPHLQH+HUUHQGDVZDULQGHUDOWHQ=HLW
ZXUGHXQVHU%DURQGHUDOV6lXJOLQJ]XUFNJHEOLHEHQZDUDXV %DUPKHU]LJNHLW YRQ HLQHP VHKU UHLFKHQ UXVVLVFKHQ *XWVEHVLW]HU DXIJH]RJHQ 'LHVHU UXVVLVFKH *XWVEHVLW]HU QHQQHQ ZLU LKQ 3 EHVD LQ MHQHU DOWHQ JROGHQHQ =HLW YLHUWDXVHQG OHLEHLJHQH 6HHOHQ OHLEHLJHQH 6HHOHQ YHUVWHKHQ 6LH GLHVHQ $XVGUXFN PHLQH +HUUHQ" ,FK YHUVWHKH LKQ QLFKW 0DQ PX HUVW GDV .RQYHUVDWLRQVOH[LNRQ EHIUDJHQ QLFKW ODQJ LVW¶V KHU XQG GRFK LVW¶V NDXP ]X JODXEHQ XQG ZDU RIIHQEDU HLQHU MHQHU UXVVLVFKHQ 1LFKWVWXHU XQG 7DJHGLHEH GLH LKU PLJHV /HEHQ LP $XVODQG YHUEUDFKWHQ LP 6RPPHU LQ GHQ %DGHRUWHQXQGLP:LQWHULP3DULVHUFKiWHDXGHVIOHXUVZRVLH VHLQHU]HLW HQRUPH 6XPPHQ ]XUFNOLHHQ 0DQ NDQQ PLW %HVWLPPWKHLW VDJHQ GD PLQGHVWHQV HLQ 'ULWWHO GHV JHVDPWHQ LQGHUIUKHUHQ=HLWGHU/HLEHLJHQVFKDIWJH]DKOWHQ3DFKW]LQVHV LQGLH7DVFKHGHV%HVLW]HUVGHV3DULVHUFKlWHDXGHVIOHXUVIOR ZDU GDV HLQ JOFNOLFKHU 0HQVFK :LH GHP DXFK JHZHVHQ VHLQ PDJ MHGHQIDOOV OLH GHU VRUJORVH 3 GHP YHUZDLVWHQ MXQJHQ+HUUQHLQHIUVWOLFKH(U]LHKXQJ]XWHLOZHUGHQXQGKLHOW LKP(U]LHKHUXQG*RXYHUQDQWHQRKQH=ZHLIHOKEVFKH GLHHU EHL *HOHJHQKHLW VHOEVW DXV 3DULV PLWEUDFKWH $EHU GHU MXQJH $GHOVVSU|OLQJ GHU /HW]WH VHLQHV *HVFKOHFKWV ZDU HLQ ,GLRW 'LH *RXYHUQDQWHQ DXV GHP FKlWHDX GHV IOHXUV NRQQWHQ LKP QLFKW KHOIHQ XQG ELV ]XP ]ZDQ]LJVWHQ /HEHQVMDKU YHUPRFKWH LKU =|JOLQJ NHLQH HLQ]LJH 6SUDFKH ]X VSUHFKHQ QLFKW HLQPDO GLH UXVVLVFKH /HW]WHUHV LVW EULJHQV YHU]HLKOLFK (QGOLFK ELOGHWH VLFK LQ 3V UXVVLVFKHP *XWVKHUUQNRSI GLH 9RUVWHOOXQJ PDQN|QQHHLQHP,GLRWHQLQGHU6FKZHL]9HUVWDQGEHLEULQJHQ ODVVHQ EULJHQV HLQH YRQ VHLQHP 6WDQGSXQNW DXV ORJLVFKH 9RUVWHOOXQJ VR HLQ 0LJJlQJHU XQG 3URSULHWlU NRQQWH VLFK VHKU ZRKO GHQNHQ GD PDQ IU *HOG VRJDU 9HUVWDQG DXI GHP 0DUNW NDXIHQ N|QQH JDQ] EHVRQGHUV LQ GHU 6FKZHL] )QI -DKUH ODQJ EHIDQG VLFK QXQ GHU HGOH 6SU|OLQJ ]XU .XU EHL HLQHP EHNDQQWHQ 3URIHVVRU LQ GHU 6FKZHL] GLHVH .XU NRVWHWH YLHOH WDXVHQG 5XEHO GHU ,GLRW ZXUGH GDGXUFK QDWUOLFK QLFKW
NOXJDEHUGRFKZLHPDQVDJWHLQHP0HQVFKHQZHQLJVWHQVVR KDOEZHJVlKQOLFK'DVWLUEW3XQHUZDUWHWIUK(LQ7HVWDPHQW ZDU QDWUOLFK QLFKW YRUKDQGHQ GLH 9HUP|JHQVYHUKlOWQLVVH EHIDQGHQ VLFK ZLH GDV JHZ|KQOLFK GHU )DOO LVW LQ DUJHU 8QRUGQXQJ HV VWHOOWH VLFK HLQ +DXIH JLHULJHU (UEHQ HLQ GLH VLFK QDWUOLFK QLFKW LP JHULQJVWHQ PHKU XP GLHVHQ OHW]WHQ 6SU|OLQJ VHLQHV *HVFKOHFKWHV NPPHUWHQ GHQ GHU 9HUVWRUEHQHDXV %DUPKHU]LJNHLW LQ GHU 6FKZHL] KDWWH YRQ GHU DQJHERUHQHQ ,GLRWLH NXULHUHQ ODVVHQ ZROOHQ 'HU MXQJH $GHOVVSUR YHUVXFKWH REZRKO HU HLQ ,GLRW ZDU GRFK VHLQHQ 3URIHVVRU]XEHWUJHQXQGOLHVLFKZLHPDQHU]lKOWYRQLKP ]ZHL-DKUHODQJJUDWLVEHKDQGHOQLQGHPHULKPGHQ7RGVHLQHV :RKOWlWHUV YHUKHLPOLFKWH $EHU GHU 3URIHVVRU ZDU VHOEVW HLQ VFKODXHU 3DWURQ GDV $XVEOHLEHQ GHU =DKOXQJHQ XQG JDQ] EHVRQGHUV GHU VWDUNH $SSHWLW VHLQHV IQIXQG]ZDQ]LJMlKULJHQ IDXOHQ]HQGHQ3DWLHQWHQPDFKWHQLKQVFKOLHOLFKVWXW]LJHUJDE LKPHLQ3DDUDOWH*DPDVFKHQYRQVLFK]XP$Q]LHKHQVFKHQNWH LKPHLQHQDEJHWUDJHQHQ0DQWHOYRQVLFKXQGVSHGLHUWHLKQDXV %DUPKHU]LJNHLW GULWWHU .ODVVH QDFK 5XODQG VR ZDU GLH 6FKZHL] LKQ ORVJHZRUGHQ (V N|QQWH QXQ VFKHLQHQ DOV KDEH GDV *OFN XQVHUHP +HOGHQ GHQ 5FNHQ JHZHQGHW 'DV ZDU MHGRFK QLFKW GHU )DOO )RUWXQD GLH JDQ]H *RXYHUQHPHQWV +XQJHUVVWHUEHQOlWVFKWWHWHDXIHLQPDODOOHLKUH*DEHQEHU GLHVHQ $ULVWRNUDWHQ DXV ZLH LQ GHU .U\ORZVFKHQ )DEHO GLH :RONH EHU GDV DXVJHWURFNQHWH )HOG KLQZHJ]LHKW XQG LKU :DVVHU LQ GHQ 2]HDQ KLQDEVFKWWHW )DVW LQ GHPVHOEHQ $XJHQEOLFNDOVHUDXVGHU6FKZHL]LQ3HWHUVEXUJHLQWUDIVWDUE LQ 0RVNDX HLQ 9HUZDQGWHU VHLQHU 0XWWHU GLH QDWUOLFK DXV GHP .DXIPDQQVVWDQG VWDPPWH HLQ DOWHU NLQGHUORVHU DOOHLQVWHKHQGHU ODQJElUWLJHU .DXIPDQQ XQG 6HNWLHUHU XQG KLQWHUOLH HLQH (UEVFKDIW YRQ PHKUHUHQ 0LOOLRQHQ XQDQIHFKWEDUDEJHUXQGHWDOOHVLQEDUGLHMDGDVZlUH HWZDV IU PLFK XQG 6LH OLHEHU /HVHU LQ LKUHP JDQ]HQ %HWUDJ XQVHUHPMXQJHQ$GHOVVSU|OLQJ]XILHOGHUVLFKLQGHU6FKZHL]
KDWWHYRQGHU,GLRWLHNXULHUHQODVVHQ1DQXQNODQJGLH0XVLN QDWUOLFKDQGHUV8PXQVHUHQ%DURQLQ*DPDVFKHQGHUVFKRQ DQJHIDQJHQ KDWWH HLQHU EHNDQQWHQ YRQ HLQHP DQGHUQ DXVJHKDOWHQHQ 6FK|QKHLW GHQ +RI ]X PDFKHQ VDPPHOWH VLFK DXIHLQPDOHLQJDQ]HU6FKZDUPYRQ )UHXQGHQHVIDQGHQVLFK DXFK 9HUZDQGWH HLQ XQG YRU DOOHP JDQ]H 6FKDUHQ YRUQHKPHU 0lGFKHQGLHGDQDFKVFKPDFKWHWHQPLWLKPLQGHQ6WDQGGHU KHLOLJHQ (KH ]X WUHWHQ 8QG ZDV NRQQWH PDQ VLFK DXFK %HVVHUHV GHQNHQ HLQ $ULVWRNUDW HLQ 0LOOLRQlU HLQ ,GLRW DOVR DOOH 9RU]JH YHUHLQW HLQHQ VROFKHQ 0DQQ NDQQ PDQ QLFKW HLQPDO PLW GHU /DWHUQH ILQGHQ RGHU DXI %HVWHOOXQJ JHOLHIHUW EHNRPPHQ © ª'DV GDV EHUVWHLJW MD DOOHV© ULHI ,ZDQ )MRGRURZLWVFKLQK|FKVWHU(QWUVWXQJª+|UHQ6LHDXI.ROMD© ULHIGHU )UVWLQIOHKHQGHP7RQH 9RQ DOOHQ 6HLWHQ HUVFKROOHQ YHUVFKLHGHQH $XVUXIH ª:HLWHUOHVHQ 8QWHU DOOHQ 8PVWlQGHQ ZHLWHUOHVHQ© YHUODQJWH /LVDZHWD 3URNRIMHZQD DXI GDV DOOHUEHVWLPPWHVWHVLHEHKHUUVFKWHVLFKDXJHQVFKHLQOLFKQXUPLW JU|WHU $QVWUHQJXQJ ª)UVW ZHQQ GX LKP GDV :HLWHUOHVHQ YHUELHWHVWEHNRPPVWGXHVPLWPLU]XWXQ© (V ZDU QLFKWV ]X PDFKHQ PLW KHLHP *HVLFKW JHU|WHWHQ :DQJHQ XQG HLQHU 6WLPPH GLH YRU $XIUHJXQJ ]LWWHUWH ODV .ROMD ZHLWHU ª$EHU ZlKUHQG XQVHU QHXJHEDFNHQHU 0LOOLRQlU VR]XVDJHQ LP 6FK|H GHV *OFNHV VD JHVFKDK HWZDV YRQ HLQHU 6HLWH KHU YRQ GHU HV QLHPDQG HUZDUWHW KDWWH (LQHV VFK|QHQ0RUJHQVHUVFKHLQWEHLLKPHLQ%HVXFKHUPLWUXKLJHP HUQVWHP *HVLFKW PLW K|IOLFKHU DEHU ZUGLJHU XQG UHFKWVFKDIIHQHU 5HGHZHLVH EHVFKHLGHQ XQG DQVWlQGLJ JHNOHLGHW LQ VHLQHU 'HQNDUW RIIHQEDU GHU IRUWVFKULWWOLFKHQ 5LFKWXQJDQJHK|UHQGXQGHUNOlUWLKPLQZHQLJHQ:RUWHQGHQ *UXQG VHLQHV .RPPHQV HU LVW HLQ EHNDQQWHU $GYRNDW HU LVW YRQ HLQHP MXQJHQ 0DQQ PLW GHU 9HUWUHWXQJ VHLQHU ,QWHUHVVHQ EHDXIWUDJWZRUGHQXQGNRPPWLQGHVVHQ1DPHQ'LHVHUMXQJH 0DQQ LVW QLFKW PHKU XQG QLFKW ZHQLJHU DOV HLQ 6RKQ GHV YHUVWRUEHQHQ 3 REJOHLFK HU HLQHQ DQGHUQ 1DPHQ WUlJW 'HU
/VWOLQJ 3 KDWWH LQ VHLQHU -XJHQG HLQ DQVWlQGLJHV DUPHV 0lGFKHQ YHUIKUW GDV ]X VHLQHP +RIJHVLQGH JHK|UWH DEHU HXURSlLVFKH (U]LHKXQJ JHQRVVHQ KDWWH ZREHL VHOEVWYHUVWlQGOLFK GLH +HUUHQUHFKWH GHU GDPDOLJHQ =HLW GHU /HLEHLJHQVFKDIW PLW LQV 6SLHO NDPHQ XQG DOV GLH XQDXVEOHLEOLFKHQ QDKH EHYRUVWHKHQGHQ )ROJHQ GLHVHV 9HUKlOWQLVVHV VLFKWEDU ZXUGHQ VLH P|JOLFKVW VFKQHOO DQ HLQHQ JHZHUEHWUHLEHQGHQ XQG VRJDU LP 6WDDWVGLHQVW EHILQGOLFKHQ 0DQQ YRQ HGOHP &KDUDNWHU YHUKHLUDWHW GHU GLHVHV 0lGFKHQ VFKRQ ODQJH JHOLHEW KDWWH $QIDQJV XQWHUVWW]WH HU GDV MXQJH (KHSDDU DEHU GLH HGOH *HVLQQXQJ GHV (KHPDQQHV YHUDQODWH GLHVHQ EDOG GLH ZHLWHUH $QQDKPH VROFKHU 8QWHUVWW]XQJ DE]XOHKQHQ (V YHUJLQJ QXQ HLQLJH =HLW XQG 3 YHUJD DOOPlKOLFK GDV 0lGFKHQ XQG VHLQHQ PLW LKU JH]HXJWHQ 6RKQ XQG VWDUE GDQQ ZLH EHNDQQW RKQH WHVWDPHQWDULVFKH $QRUGQXQJHQ ]X KLQWHUODVVHQ 6HLQ 6RKQ GHU ]X HLQHU =HLW JHERUHQ ZDU DOV VHLQH 0XWWHU EHUHLWV LQ OHJLWLPHU (KH OHEWH ZXFKV XQWHUGHVVHQ XQWHU HLQHP DQGHUQ )DPLOLHQQDPHQ KHUDQ XQGZXUGHYRQGHPHGHOGHQNHQGHQ*DWWHQVHLQHU0XWWHUY|OOLJ DOV 6RKQ EHKDQGHOW DEHU DOV HU EHL GHVVHQ 7RG PLW GHU NUlQNOLFKHQ OHLGHQGHQ DQ GHQ )HQ JHOlKPWHQ 0XWWHU LQ HLQHP DEJHOHJHQHQ *RXYHUQHPHQW ]XUFNEOLHE ZDU HU JlQ]OLFK DXI VHLQH HLJHQHQ 0LWWHO DQJHZLHVHQ (U VHOEVW JLQJ QDFK GHU +DXSWVWDGW XQG YHUGLHQWH VLFK *HOG GXUFK WlJOLFKH DQVWlQGLJH $UEHLW LQGHP HU LQ .DXIPDQQVIDPLOLHQ 3ULYDWVWXQGHQ JDE XQG VLFK GDGXUFK ]XHUVW DOV *\PQDVLDVW GDQQDOV+|UHUGHUIULKQ]ZHFNPlLJHQ8QLYHUVLWlWVOHVXQJHQ HUKLHOW ZREHL HU HLQ K|KHUHV =LHO LP $XJH KDWWH $EHU NDQQ PDQHWZDYLHOHUZHUEHQZHQQHLQHPGHUUXVVLVFKH.DXIPDQQ IU GLH 6WXQGH ]HKQ .RSHNHQ JLEW XQG PDQ REHQGUHLQ HLQH NUDQNH JHOlKPWH 0XWWHU KDW" $XFK DOV GLHVH VFKOLHOLFK LQ GHP DEJHOHJHQHQ *RXYHUQHPHQW VWDUE ZXUGH GHU 6RKQ GDGXUFK QLFKW VRQGHUOLFK HQWODVWHW 1XQ ZHUIHQ ZLU GLH )UDJH DXI ZLH PXWH XQVHU MXQJHU $GHOVVSU|OLQJ VLFK
JHUHFKWHUZHLVH HQWVFKHLGHQ" *HZL PHLQHQ 6LH YHUHKUWHU /HVHUGDHUVLFKIROJHQGHVJHVDJWKDW¾,FKKDEHPHLQJDQ]HV /HEHQ ODQJ YRQ 3 DOOH HUGHQNOLFKHQ :RKOWDWHQ JHQRVVHQ IU PHLQHQ8QWHUKDOWXQGPHLQH(U]LHKXQJIU*RXYHUQDQWHQXQG GDQQLQGHU6FKZHL]IUGLH+HLOXQJYRQGHU,GLRWLHVLQGYLHOH YLHOH 7DXVHQGH GUDXIJHJDQJHQ XQG GD EHVLW]H LFK QXQ 0LOOLRQHQ ZlKUHQG 3V HGHOGHQNHQGHU 6RKQ GHU DQ GHQ )HKOWULWWHQVHLQHVOHLFKWVLQQLJHQYHUJHOLFKHQ9DWHUVNHLQHUOHL 6FKXOGWUlJWVLFKPLW3ULYDWVWXQGHQ]X7RGHTXlOW$OOHVZDV IU PLFK DXIJHZDQGW LVW KlWWH JHUHFKWHUZHLVH IU LKQ DXIJHZDQGW ZHUGHQ PVVHQ 'LH IU PLFK DXVJHJHEHQHQ JHZDOWLJHQ 6XPPHQ NDPHQ PLU LQ :LUNOLFKNHLW QLFKW ]X (V ZDUQXUHLQ,UUWXPGHUEOLQGHQ)RUWXQDVLHJHK|UWHQHLJHQWOLFK GHP 6RKQH 3V )U LKQ KlWWHQ VLH YHUEUDXFKW ZHUGHQ VROOHQ QLFKWIUPLFK±GLH$XVJHEXUWHLQHUSKDQWDVWLVFKHQ/DXQHGHV OHLFKWVLQQLJHQ YHUJHOLFKHQ 3 :HQQ LFK LP YROOHQ 6LQQH HLQ HGOHU IHLQIKOLJHU JHUHFKWHU 0HQVFK ZlUH VR PWH LFK VHLQHP6RKQ GLH +lOIWH PHLQHU JDQ]HQ (UEVFKDIW DEJHEHQ GD LFK DEHU YRU DOOHQ 'LQJHQ HLQ EHUHFKQHQGHU 0HQVFK ELQ XQG UHFKW JXW ZHL GD GLH 6DFKH QLFKW HLQNODJEDU LVW ZHUGH LFK LKP GLH +lOIWH PHLQHU 0LOOLRQHQ QLFKW JHEHQ $EHU DOOHUGLQJV ZUGHHVYRQPHLQHU6HLWH JDU ]X JHPHLQ XQG VFKDPORV VHLQ½ GHU$GHOVVSU|OLQJYHUJDGDHVDXFK QLFKW YRUWHLOKDIW VHLQ ZUGH ¾ZHQQ LFK GHP 6RKQ 3V MHW]W QLFKW ZHQLJVWHQV GLH 7DXVHQGH ]XUFNHUVWDWWHWH GLH 3 IU GLH +HLOXQJ PHLQHU ,GLRWLH DXVJHJHEHQ KDW 'DV LVW OHGLJOLFK HLQH )RUGHUXQJ GHV *HZLVVHQV XQG GHU *HUHFKWLJNHLW 'HQQ ZDV ZlUH DXV PLU JHZRUGHQ ZHQQ 3 PLFK QLFKW DXIJH]RJHQ VRQGHUQ VWDWW GHVVHQVLFKXPVHLQHQ6RKQEHNPPHUWKlWWH"½ $EHU QHLQ PHLQH +HUUHQ 8QVHUH $GHOVVSU|OLQJH GHQNHQ QLFKWVR:DVIU9RUVWHOOXQJHQLKPDXFKGHU$GYRNDWPDFKWH GHU GLH PKHYROOH 9HUWUHWXQJ GHU 6DFKH GHV MXQJHQ 0DQQHV HLQ]LJ XQG DOOHLQ DXV )UHXQGVFKDIW ]X GLHVHP XQG IDVW ZLGHU GHVVHQ:LOOHQIDVWJHZDOWVDPEHUQRPPHQKDWWHZLHVHKUHU
LKQ DXFK DXI GLH 3IOLFKWHQ GHU (KUH GHV $QVWDQGV XQG GHU *HUHFKWLJNHLW MD VRJDU DXI GLH *HERWH GHU JHZ|KQOLFKHQ .OXJKHLW KLQZLHV GHU 6FKZHL]HU =|JOLQJ EOLHE XQHUELWWOLFK XQG ZDV WDW HU" $OOHV %LVKHULJH ZlUH QRFK QLFKWV DEHU QXQ NRPPW HWZDV ZDV ZLUNOLFK XQYHU]HLKOLFK XQG GXUFK NHLQH LQWHUHVVDQWH .UDQNKHLW ]X HQWVFKXOGLJHQ LVW GLHVHU 0LOOLRQlU GHU NDXP GLH *DPDVFKHQ VHLQHV 3URIHVVRUV DXVJH]RJHQ KDWWH NRQQWH QLFKW HLQPDO VR YLHO NDSLHUHQ GD GHU HGHOGHQNHQGH MXQJH 0DQQ GHU VLFK PLW 3ULYDWVWXQGHQ TXlOWH LKQ QLFKW XP HLQ $OPRVHQ XQG HLQH 8QWHUVWW]XQJ EDW VRQGHUQ VHLQ 5HFKW IRUGHUWHGDV YHUODQJWH ZDV LKP ]XVWDQG ZHQQ DXFK QLFKW LP JHULFKWOLFKHQ 6LQQH XQG HEHQVRZHQLJ ZXWH GHU 0LOOLRQlU HV ]X ZUGLJHQ GD GHU MXQJH 0DQQ VHLQH $QVSUFKH QLFKW SHUV|QOLFKHUKREVRQGHUQQXUVHLQH)UHXQGH IULKQHLQWUDWHQ 0LW PDMHVWlWLVFKHU 0LHQH EHUDXVFKW YRQ GHU LKP GXUFK VHLQH 0LOOLRQHQ ]XJHIDOOHQHQ 0DFKW DQGHUH 0HQVFKHQ XQJHVWUDIW QLHGHU]XWUHWHQ ]LHKW XQVHU $GHOVVSU|OLQJ HLQHQ )QI]LJUXEHOVFKHLQ KHUDXV XQG LVW IUHFK JHQXJ LKQ GHP HGHOGHQNHQGHQ MXQJHQ 0DQQ DOV $OPRVHQ ]X VFKLFNHQ 6LH JODXEHQHVQLFKWPHLQH+HUUHQ"6LHVLQGHPS|UWEHOHLGLJWXQG VWRHQ HLQHQ 6FKUHL GHU (QWUVWXQJ DXV DEHU HU KDW HV JHWDQ WURW]DOOHGHP6HOEVWYHUVWlQGOLFKZXUGHLKPGDV*HOGVRJOHLFK ]XUFNJHVFKLFNW VR]XVDJHQ LKP LQV *HVLFKW ]XUFN JHVFKOHXGHUW :LH VROO QXQ GLH 6DFKH JHUHJHOW ZHUGHQ" *HULFKWOLFKYHUIROJHQOlWVLHVLFKQLFKWHVEOHLEWQXUGHU:HJ GHUgIIHQWOLFKNHLW:LUEHUJHEHQGDKHUGLHVHV*HVFKLFKWFKHQ GHP3XEOLNXPLQGHPZLUXQVIUVHLQH5LFKWLJNHLWYHUEUJHQ 0DQVDJWHLQHUXQVHUHUEHNDQQWHVWHQ+XPRULVWHQKDEHGDUEHU HLQ UHL]HQGHV (SLJUDPP YHUIDW GDV QLFKW QXU LQ GHQ SURYLQ]LHOOHQ VRQGHUQ DXFK LQ GHQ KDXSWVWlGWLVFKHQ 6LWWHQVFKLOGHUXQJHQHLQH6WHOOH]XILQGHQYHUGLHQH ,QµQHP0lQWHOFKHQYRQ6FKQHLGHU
'HU1DPHGHV6FKZHL]HU3URIHVVRUV
6SLHOWH/HZ
IQI-DKUKHUXP 8QWHUGHVVHQZXUGHOHLGHU 1LFKWVDXVVHLQHP6WXGLXP +HLPJHNHKUWGUDXILQ*DPDVFKHQ (UEW¶HUJOFNOLFKµQH0LOOLRQ 8QGEHVWDKOWURW]YROOHU7DVFKHQ (LQHQDUPHQ0XVHQVRKQ $OV.ROMDJHHQGHWKDWWHUHLFKWHHUGLH=HLWVFKULIWHLOLJVWGHP )UVWHQ KLQ VWU]WH RKQH HLQ :RUW ]X VDJHQ LQ HLQH (FNH YHUNURFKVLFKJDQ]WLHIKLQHLQXQGYHUEDUJGDV*HVLFKWLQGHQ +lQGHQ (U VFKlPWH VLFK XQVlJOLFK XQG VHLQ NLQGOLFKHV DQ 6FKPXW] QRFK QLFKW JHZ|KQWHV (PSILQGHQ ZDU PDORV YHUOHW]W (V VFKLHQ LKP DOV VHL HWZDV JDQ] 8QJHZ|KQOLFKHV YRUJHJDQJHQ DOV VHL DOOHV %HVWHKHQGH GDGXUFK DXI HLQPDO QLHGHUJHULVVHQ XQG DOV VHL HU VHOEVW EHLQDK PLW GDUDQ VFKXOG VFKRQ DOOHLQ GDGXUFK GD HU HV ODXW YRUJHOHVHQ KDWWH $EHU DXFKDOOHEULJHQVFKLHQHQlKQOLFKHV]XHPSILQGHQ 'LH MXQJHQ 0lGFKHQ IKOWHQ VLFK VHKU XQEHKDJOLFK XQG VFKlPWHQVLFK/LVDZHWD3URNRIMHZQDKLHOWLKUHQKHIWLJHQ=RUQ JHZDOWVDP]XUFNXQGEHUHXWHHVZRKOELWWHUVLFKLQGLH6DFKH HLQJHODVVHQ]XKDEHQMHW]WVFKZLHJVLH0LWGHP)UVWHQJLQJ GDVYRUZDVDOO]XVFKFKWHUQHQ0HQVFKHQLQVROFKHQ)lOOHQ]X EHJHJQHQ SIOHJW HU VFKlPWH VLFK GHUPDHQ EHU GDV %HQHKPHQDQGHUHUQlPOLFKVHLQHU*lVWHGDHUVLFKLPHUVWHQ $XJHQEOLFN IUFKWHWH VLH DXFK QXU DQ]XVHKHQ 3WL]\Q :DUMD *DQMD VRJDU /HEHGHZ DOOH PDFKWHQ HWZDV YHUOHJHQH *HVLFKWHU 'DV VRQGHUEDUVWH ZDU GD ,SSROLW XQG ª3DZOLVFKWVFKHZV 6RKQ© HEHQIDOOV HUVWDXQW ]X VHLQ VFKLHQHQ DXFK /HEHGHZV 1HIIH ZDU RIIHQEDU XQ]XIULHGHQ 1XU GHU %R[HU VD JDQ] UXKLJ GD XQG GUHKWH PLW ZUGHYROOHU 0LHQH VHLQHQ 6FKQXUUEDUW GLH $XJHQ KLHOW HU QLHGHUJHVFKODJHQ DEHU
'LPLQXWLYQDPHGHV$GHOVVSU|OLQJV
QLFKW DXV 9HUOHJHQKHLW LP *HJHQWHLO HV VFKLHQ DOV WXH HU HV DXV HGOHU %HVFKHLGHQKHLW XQG XP VHLQ 7ULXPSKJHIKO QLFKW DOO]XVLFKWEDUZHUGHQ]XODVVHQ$QDOOHPNRQQWHPDQPHUNHQ GDGHU$UWLNHOLKPVHKUJXWJHILHOª:HLGHU7HXIHOZDVGDV EHGHXWHQ VROO© EUXPPWH ,ZDQ )MRGRURZLWVFK KDOEODXW ª'DV LVWMDDOVKlWWHQIQI]LJ/DNDLHQVLFK]XVDPPHQJHWDQXQGGDV DEJHIDW© ª*HVWDWWHQ 6LH GLH )UDJH PHLQ +HUU ZLH 6LH HV ZDJHQN|QQHQXQVGXUFKVROFKH9HUPXWXQJHQ]XEHOHLGLJHQ"© IUDJWH,SSROLWDPJDQ]HQ/HLEH]LWWHUQGª'DVGDVGDVLVWIU HLQHQ DQVWlQGLJHQ 0HQVFKHQ VDJHQ 6LH VHOEVW *HQHUDO ZHQQ HLQ DQVWlQGLJHU 0HQVFK VR LVW GDV GRFK YHUOHW]HQG© EUXPPWHGHU%R[HUGHUJOHLFKIDOOVDXIHLQPDO]XVDPPHQIXKU VHLQHQ 6FKQXUUEDUW GUHKWH XQG PLW GHQ 6FKXOWHUQ XQG GHP JDQ]HQ2EHUN|USHU]XFNWHª(UVWHQVELQLFKIU6LHQLFKW¾PHLQ +HUU½ XQG ]ZHLWHQV EHDEVLFKWLJH LFK ,KQHQ NHLQHUOHL (UNOlUXQJHQ ]X JHEHQ© HUZLGHUWH GHU K|FKVW HUJULPPWH ,ZDQ )MRGRURZLWVFK LQ VFKDUIHP 7RQ VWDQG DXI JLQJ RKQH HLQ ZHLWHUHV:RUW]XVDJHQ]XP$XVJDQJGHU9HUDQGDXQGVWHOOWH VLFK GRUW DXI GLH REHUVWH 6WXIH KLQ GHQ $QZHVHQGHQ GHQ 5FNHQ ]XZHQGHQG (U ZDU K|FKVW HPS|UW EHU /LVDZHWD 3URNRIMHZQDGLHDXFKMHW]WQRFKQLFKWGDUDQGDFKWHVLFKYRP )OHFN ]X UKUHQ ª0HLQH +HUUHQ PHLQH +HUUHQ JHVWDWWHQ 6LH PLU GRFK HQGOLFK HWZDV ]X VDJHQ PHLQH +HUUHQ© ULHI GHU )UVW EHNPPHUW XQG DXIJHUHJW ªXQG WXQ 6LH PLU GHQ *HIDOOHQ ODVVHQ 6LH XQV VR PLWHLQDQGHU UHGHQ GD ZLU XQV JHJHQVHLWLJ YHUVWHKHQ $XI GHQ $UWLNHO ZLOO LFK QLFKW ZHLWHU HLQJHKHQ PHLQH +HUUHQ QXU LVW MD DOOHV ZDV LQ GHP $UWLNHO JHGUXFNWLVWXQZDKUPHLQH+HUUHQ,FKGDUI,KQHQGDVVDJHQ ZHLO6LHHVVHOEVWZLVVHQPDQPXVLFKJHUDGH]XVFKlPHQ,FK ZUGH GDKHU VHKU YHUZXQGHUW VHLQ ZHQQ HLQHU YRQ ,KQHQ GDV JHVFKULHEHQ KDEHQ VROOWH© ª,FK KDEH YRQ GHP $UWLNHO ELV DXI GLHVHQ$XJHQEOLFNQLFKWVJHZXW©HUNOlUWH,SSROLWª,FKELOOLJH LKQ QLFKW© ª,FK KDEH ]ZDU JHZXW GD HU JHVFKULHEHQ ZDU DEHULFKKlWWHHEHQIDOOVQLFKWGD]XJHUDWHQLKQ]XGUXFNHQ
ZHLO HV QRFK ]X IUK LVW© IJWH /HEHGHZV 1HIIH KLQ]X ª,FK KDEHHV JHZXWDEHULFKKDEHHLQ 5HFKW LFK © PXUPHOWH ª3DZOLVFKWVFKHZV 6RKQ© ª:LH 6LH VHOEVW KDEHQ GDV DOOHV YHUIDW"© IUDJWH GHU )UVW LQGHP HU %XUGRZVNLM JHVSDQQW DQEOLFNWH ª$EHU GDV LVW GRFK JDQ] XQP|JOLFK© ª0DQ NDQQ ,KQHQGDV5HFKW]XVROFKHQ)UDJHQDEVSUHFKHQ©PLVFKWHVLFK /HEHGHZV1HIIHKLQHLQª,FKKDEHPLFKMDQXUJHZXQGHUWGD +HUU %XUGRZVNLM GDV IHUWLJJHEUDFKW KDW DEHU LFK P|FKWH GRFK HLQHV EHPHUNHQ ZHQQ 6LH GLHVH 6DFKH VFKRQ GHU gIIHQWOLFKNHLW EHUJHEHQ KDEHQ ZDUXP IKOWHQ 6LH VLFK GHQQ GDQQYRUKLQVREHOHLGLJWDOVLFKLQ*HJHQZDUWPHLQHU)UHXQGH YRQHEHQGLHVHU6DFKH]XUHGHQDQILQJ"©ª(QGOLFK©PXUPHOWH /LVDZHWD 3URNRIMHZQD lUJHUOLFK ª8QG 6LH KDEHQ VRJDU QRFK YHUJHVVHQ )UVW© EHPHUNWH SO|W]OLFK ]ZLVFKHQ GHQ 6WKOHQ KHUYRUVFKOSIHQG/HEHGHZGHUVLFKQLFKWOlQJHUEHKHUUVFKHQ NRQQWH XQG EHLQDK ILHEHUWH ª6LH KDEHQ QRFK YHUJHVVHQ GD QXU ,KU JXWHU :LOOH XQG ,KUH EHLVSLHOORVH +HU]HQVJWH 6LH YHUDQODW KDEHQ GLHVH +HUUHQ GD ]X HPSIDQJHQ XQG DQ]XK|UHQ XQG GD VLH NHLQHUOHL 5HFKW KDEHQ VROFKH )RUGHUXQJHQ ]X VWHOOHQ XP VR ZHQLJHU DOV 6LH MHQH $QJHOHJHQKHLW VFKRQ DQ *DZULOD $UGDOLRQRZLWVFK ]XU (UOHGLJXQJ DEJHJHEHQ KDEHQ HEHQIDOOV LQIROJH ,KUHU DXHURUGHQWOLFKHQ*WH-HW]WDEHUGXUFKODXFKWLJVWHU)UVWZR 6LH VLFK LQPLWWHQ ,KUHU DXVHUOHVHQHQ )UHXQGH EHILQGHQ GUIHQ 6LH DXI GLHVH *HVHOOVFKDIW QLFKW XP GLHVHU +HUUHQ ZLOOHQ YHU]LFKWHQ6LHN|QQWHQDOOHQGLHVHQ+HUUHQRKQHZHLWHUHVGLH 7UZHLVHQZRUEHULFKDOV%HVLW]HUGLHVHV+DXVHVPLFKVRJDU DXHURUGHQWOLFK IUHXHQ ZUGH © ª9ROONRPPHQ ULFKWLJ© HUVFKROO DXI HLQPDO DXV GHP +LQWHUJUXQG *HQHUDO ,ZROJLQV GU|KQHQGH 6WLPPH ª*HQXJ /HEHGHZ JHQXJ JHQXJ © EHJDQQ GHU )UVW DEHU HLQ JDQ]HU 6WXUP XQZLOOLJHU $XVUXIH EHUW|QWH VHLQH :RUWH ª1HLQ HQWVFKXOGLJHQ 6LH )UVW HQWVFKXOGLJHQ 6LH MHW]W GDUI HV QLFKW GDPLW JHQXJ VHLQ© EHUVFKULH/HEHGHZV1HIIHDOOHEULJHQª-HW]WPXGLH6DFKH
NODU XQG EHVWLPPW IHVWJHVWHOOW ZHUGHQ GD VLH RIIHQEDU QLFKW ULFKWLJ YHUVWDQGHQ ZLUG (V VLQG KLHU MXULVWLVFKH )LQWHQ KLQHLQJHEUDFKW ZRUGHQ XQG DXI *UXQG GLHVHU )LQWHQ GURKW PDQXQV]XU 7U KLQDXV]XZHUIHQ 0HLQHQ 6LH GHQQ ZLUNOLFK )UVWGDZLUVRGXPPZlUHQQLFKWVHOEVW]X YHUVWHKHQ GD XQVHUH6DFKHVLFKQLFKWJHULFKWOLFKYHUIROJHQOlWXQGGDZLU YRP MXULVWLVFKHQ 6WDQGSXQNW DXV QLFKW EHUHFKWLJW VLQG DXFK QXUHLQHQ5XEHOYRQ,KQHQ]XYHUODQJHQ"$EHUZLUVDJHQXQV GD ZHQQ KLHU DXFK NHLQ MXULVWLVFKHV 5HFKW YRUOLHJW GDIU GRFK HLQ PHQVFKOLFKHV QDWUOLFKHV 5HFKW YRUKDQGHQ LVW HLQ 5HFKWGHV JHVXQGHQ0HQVFKHQYHUVWDQGHVXQGGHU6WLPPH GHV *HZLVVHQVXQGGDZHQQDXFKGLHVHVXQVHU5HFKWLQNHLQHP YHUPRGHUWHQPHQVFKOLFKHQ .RGH[ JHVFKULHEHQ VWHKW GRFK HLQ DQVWlQGLJHUHKUHQKDIWHU0HQVFKZDVJDQ]GDVVHOEHLVWZLHHLQ YHUQQIWLJ GHQNHQGHU 0HQVFK YHUSIOLFKWHW LVW DXFK LQ GHQMHQLJHQ )lOOHQ DQVWlQGLJ XQG HKUHQKDIW ]X EOHLEHQ GLH LP .RGH[ QLFKW YHU]HLFKQHW VWHKHQ 'DUXP VLQG ZLU KLHUKHUJHNRPPHQ RKQH ]X IUFKWHQ GD PDQ ZRPLW 6LH VRHEHQJHGURKWKDEHQ XQVDXVGHU7UZHUIHQZHUGHZHLOZLU QLFKW ELWWHQ VRQGHUQ IRUGHUQ XQG ZHLO XQVHU %HVXFK ]X VR VSlWHU6WXQGHXQVFKLFNOLFKLVWREZRKOZLU HLJHQWOLFKQLFKWVR VSlWJHNRPPHQVLQGVRQGHUQ6LHHVZDUHQGHUXQVVRODQJHLQ GHU *HVLQGHVWXEH ZDUWHQ OLH GDUXP VDJH LFK ZLU VLQG IXUFKWORVKLHUKHUJHNRPPHQZHLOZLUDQQDKPHQ6LHVHLHQHLQ YHUQQIWLJ GHQNHQGHU 0HQVFK GDV KHLW HLQ HKUHQKDIWHU JHZLVVHQKDIWHU0HQVFK-DHVLVWZDKUZLUVLQGQLFKWGHPWLJ KHUHLQJHNRPPHQ QLFKW ZLH 6FKPDURW]HU XQG %LWWVWHOOHU VRQGHUQPLWHUKREHQHP+DXSWDOVIUHLH0lQQHUXQGGXUFKDXV QLFKW PLW HLQHU %LWWH VRQGHUQ PLW HLQHU IUHLHQ VWRO]HQ )RUGHUXQJK|UHQ6LHQLFKWPLWHLQHU%LWWHVRQGHUQPLWHLQHU )RUGHUXQJ PHUNHQ 6LH VLFK GDV :LU OHJHQ ,KQHQ QXQ LQ ZUGLJHU)RUPRIIHQXQGJHUDGH]XGLH)UDJHYRUJODXEHQ6LH LQ GHU %XUGRZVNLMVFKHQ $QJHOHJHQKHLW LP 5HFKW RGHU LP 8QUHFKW ]X VHLQ" *HEHQ 6LH ]X GD 3DZOLVFKWVFKHZ ,KQHQ
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|QQHQ GDV WXQ 6LH KDEHQ GLH 0DFKW GD]X $EHU YHUJHVVHQ6LHQLFKWGDZLUWURW]GHPIRUGHUQXQGQLFKWELWWHQ :LUIRUGHUQZLUELWWHQQLFKW© /HEHGHZV 1HIIH GHU ±VHKU KLW]LJ JHZRUGHQ ZDU KLHOW LQQH ª:LU IRUGHUQ ZLU IRUGHUQ ZLU IRUGHUQ ZLU ELWWHQ QLFKW © VWDPPHOWH%XUGRZVNLMXQGZXUGHURWZLHHLQ.UHEV 'HQ :RUWHQ YRQ /HEHGHZV 1HIIHQ IROJWH HLQH JHZLVVH DOOJHPHLQH%HZHJXQJXQGHVZXUGHVRJDUHLQ*HPXUUK|UEDU REZRKODOOH0LWJOLHGHUGHU*HVHOOVFKDIWHVRIIHQEDUYHUPLHGHQ
VLFK LQ GLH 6DFKH HLQ]XPLVFKHQ DXVJHQRPPHQ YLHOOHLFKW QXU /HEHGHZGHUVLFKZLHLP)LHEHUEHIDQG(VZDUPHUNZUGLJ /HEHGHZ GHU GRFK DXJHQVFKHLQOLFK DXI 6HLWHQ GHV )UVWHQ VWDQG HPSIDQG MHW]W QDFK GHU 5HGH VHLQHV 1HIIHQ GRFK HLQH $UW EHIULHGLJWHQ )DPLOLHQVWRO]HV ZHQLJVWHQV OLH HU PLW HLQHU 0LHQH EHVRQGHUHU *HQXJWXXQJ VHLQHQ %OLFN ULQJV EHU GLH $QZHVHQGHQVFKZHLIHQ ª0HLQHU$QVLFKWQDFK©EHJDQQGHU )UVWPLW]LHPOLFKOHLVHU6WLPPHªPHLQHU$QVLFKWQDFKKDEHQ 6LH+HUU'RNWRUHQNRLQDOOHPZDV6LHVRHEHQJHVDJWKDEHQ ]XU +lOIWH YROONRPPHQ UHFKW LFK ZLOO VRJDU ]XJHEHQ GD HV GLH EHL ZHLWHP JU|HUH +lOIWH LVW XQG LFK ZUGH PLW ,KQHQ YROONRPPHQ HLQYHUVWDQGHQ VHLQ ZHQQ 6LH QLFKW LQ ,KUHU bXHUXQJ HWZDV ZHJJHODVVHQ KlWWHQ :DV 6LH GD HLJHQWOLFK ZHJJHODVVHQKDEHQGDV,KQHQJHQDXDQ]XJHEHQELQLFKQLFKW LQGHU/DJHDEHUHVIHKOWQDWUOLFKHWZDVGDPLW,KUH:RUWHLQ YROOHP 8PIDQJ DOV JHUHFKW JHOWHQ N|QQWHQ $EHU ZHQGHQ ZLU XQV OLHEHU ]XU 6DFKH PHLQH +HUUHQ VDJHQ 6LH GRFK ZDUXP KDEHQ6LHGLHVHQ$UWLNHOGUXFNHQODVVHQ"-HGHV:RUWGDULQLVW MD HLQH 9HUOHXPGXQJ VR GD 6LH PHLQH +HUUHQ PHLQHU $QVLFKW QDFK HLQH *HPHLQKHLW EHJDQJHQ KDEHQ© ª(UODXEHQ 6LH © ª0HLQ +HUU © ª'DV GDV GDV © W|QWH HV JOHLFK]HLWLJDXVGHP0XQGHGHUHUUHJWHQ%HVXFKHU ª:DVGHQ $UWLNHO DQODQJW© HUZLGHUWH ,SSROLW PLW VHLQHU NUHLVFKHQGHQ 6WLPPHªZDVGLHVHQ$UWLNHODQODQJWVRKDEHLFK,KQHQEHUHLWV JHVDJWGDLFKXQGGLHDQGHUQLKQQLFKWELOOLJHQ*HVFKULHEHQ KDW LKQ GHU KLHU© (U ZLHV DXI GHQ QHEHQ LKP VLW]HQGHQ %R[HU ª,FKJHEH]XGDGHU$UWLNHOLQXQVFKLFNOLFKHU)RUP PLWPDQJHOKDIWHU%HKHUUVFKXQJGHU6SUDFKHXQGLQHLQHP6WLO JHVFKULHEHQLVWZLHLKQHEHQHKHPDOLJH0LOLWlUVYRQVHLQHU$UW JHEUDXFKHQ (U LVW HLQ GXPPHU 0HQVFK XQG JHKW REHQGUHLQ LPPHUDXI*HOGHUZHUEDXVGDVJHEHLFK]XGDVVDJHLFKLKP DOOH7DJH JHUDGHLQV*HVLFKW DEHU WURW]GHP ZDU HU ]XU +lOIWH LP 5HFKW GLH gIIHQWOLFKNHLW LVW GDV JHVHW]OLFKH 5HFKW HLQHV MHGHQ IROJOLFK DXFK %XUGRZVNLMV 6HLQH $EJHVFKPDFNWKHLWHQ
DEHUPDJ HUVHOEVW YHUDQWZRUWHQ :DV DEHU GDV DQEHWULIIW GD LFK YRUKLQ LQ XQVHU DOOHU 1DPHQ JHJHQ GLH $QZHVHQKHLW ,KUHU )UHXQGH 3URWHVW HLQOHJWH VR HUDFKWH LFK HV IU Q|WLJ ,KQHQ PHLQH+HUUVFKDIWHQ]XEHPHUNHQGDGLHVHU3URWHVWOHGLJOLFK EH]ZHFNWH XQVHU 5HFKW ]X ZDKUHQ GD XQV DEHU LP *UXQGH GLH$QZHVHQKHLWYRQ=HXJHQVRJDUHUZQVFKWLVWXQGGDZLU YRUKLQ QRFK HKH ZLU KHUHLQNDPHQ DOOH YLHU GDULQ HLQHU 0HLQXQJ ZDUHQ 0|JHQ GLHVH =HXJHQ VHLQ ZHU VLH ZROOHQ VRJDU ,KUH )UHXQGH DEHU GD VLH QLFKW XPKLQN|QQHQ ZHUGHQ %XUGRZVNLMV5HFKWDQ]XHUNHQQHQGHQQHVLVWVRVLFKHUZLHHLQ PDWKHPDWLVFKHU /HKUVDW] VR LVW HV VRJDU DP EHVWHQ ZHQQ GLHVH =HXJHQ ,KUH )UHXQGH VLQG XP VR GHXWOLFKHU ZLUG GLH :DKUKHLW DQV /LFKW WUHWHQ© ª'DV LVW ULFKWLJ ZLU VLQG GDPLW HLQYHUVWDQGHQ JHZHVHQ©EHVWlWLJWH /HEHGHZV 1HIIH ª:DUXP PDFKWHQ 6LH GHQQ GDQQ YRUKLQ JOHLFK EHL GHQ HUVWHQ :RUWHQ HLQVROFKHV*HVFKUHLXQGHLQHQVROFKHQ/lUPZHQQ,KQHQGDV VHOEVWHUZQVFKWZDU"©IUDJWHGHU)UVWHUVWDXQW ª:DVGLHVHQ $UWLNHOEHWULIIW)UVW©JULIIQXQGHU%R[HULQGLH'HEDWWHHLQ GHU GHQ GULQJHQGHQ :XQVFK KDWWH ]X :RUW ]X NRPPHQ XQG VLFK LQ HLQHU DQJHQHKPHQ (UUHJXQJ EHIDQG PDQ NRQQWH YHUPXWHQ GD GLH $QZHVHQKHLW GHU 'DPHQ VWDUN DXI LKQ ZLUNWH ªZDV GLHVHQ $UWLNHO EHWULIIW VR EHNHQQH LFK GD LFK WDWVlFKOLFKGHU9HUIDVVHUELQREZRKOPHLQNUlQNOLFKHU)UHXQG GHPLFKLQ$QEHWUDFKWVHLQHV6FKZlFKH]XVWDQGHVYLHOHV]XJXWH ]XKDOWHQSIOHJHLKQVRHEHQVFKDUINULWLVLHUWKDW$EHULFKKDEH LKQ YHUIDW XQG LKQ LQ GHP -RXUQDO HLQHV JXWHQ )UHXQGHV LQ )RUPHLQHU=XVFKULIWGUXFNHQODVVHQ1XUGLH9HUVHVLQGQLFKW YRQ PLU VRQGHUQ VWDPPHQ WDWVlFKOLFK DXV GHU )HGHU HLQHV EHNDQQWHQ +XPRULVWHQ 0HLQHP )UHXQG %XUGRZVNLM KDEH LFK GHQ $UWLNHO QXU YRUJHOHVHQ XQG ]ZDU QLFKW YROOVWlQGLJ XQG KDEHVRJOHLFKYRQLKPVHLQH(LQZLOOLJXQJ]XP'UXFNHUKDOWHQ LQGHV ZHUGHQ 6LH VHOEVW ]XJHEHQ PVVHQ GD LFK LKQ DXFK RKQH VHLQH (LQZLOOLJXQJ KlWWH GUXFNHQ ODVVHQ N|QQHQ 'LH gIIHQWOLFKNHLWLVWHLQDOOJHPHLQHVHGOHVZRKOWlWLJHV5HFKW,FK
KRIIH GD 6LH VHOEVW )UVW IRUWVFKULWWOLFK JHQXJ GHQNHQ XP GLHV QLFKW LQ $EUHGH ]X VWHOOHQ © ª,FK ZHUGH GDV QLFKW LQ $EUHGH VWHOOHQ DEHU 6LH PVVHQ VHOEVW VDJHQ GD LQ ,KUHP $UWLNHO © ª6LH ZROOHQ VDJHQ HU LVW HWZDV VFKDUI JHKDOWHQ" $EHU HV KDQGHOW VLFK KLHU ZLH 6LH ZHUGHQ ]XJHEHQ PVVHQ VR]XVDJHQ XP GDV *HPHLQZRKO XQG NDQQ PDQ GHQQ VFKOLHOLFK HLQH VR DXVJH]HLFKQHWH *HOHJHQKHLW XQJHQXW]W ODVVHQ" 6FKOLPP IU GLH 6FKXOGLJHQ DEHU GDV *HPHLQZRKO JHKW EHU DOOHV :DV HLQLJH 8QJHQDXLJNHLWHQ VR]XVDJHQ +\SHUEHOQ DQODQJW VR ZHUGHQ 6LH DXFK KLHU ]XJHEHQ PVVHQ GDGDVZLFKWLJVWHGHUOHLWHQGH*HGDQNHLVWGHU=ZHFNXQGGLH $EVLFKW:LFKWLJLVWGDHLQ(LQ]HOIDOODOVZRKOWlWLJZLUNHQGHV %HLVSLHOEHQXW]WZLUGXP3ULYDWLQWHUHVVHQN|QQHQZLUXQVHUVW LQ]ZHLWHU/LQLHNPPHUQ8QGVFKOLHOLFKKDQGHOWHVVLFKKLHU XPGHQ6WLOHVLVWGLHVVR]XVDJHQHLQHKXPRULVWLVFKH$XIJDEH 8QG VFKOLHOLFK VFKUHLEHQ GRFK DOOH VR ZLH 6LH VHOEVW ZHUGHQ ]XJHEHQ PVVHQ +DKD© ª$EHU LFK PX VDJHQ 6LH KDEHQ GD GRFK HLQHQ JDQ] ZDKUKHLWVZLGULJHQ :HJ HLQJHVFKODJHQ PHLQH +HUUHQ© ULHI GHU )UVW ª6LH KDEHQ GHQ $UWLNHO LQ GHU 9RUDXVVHW]XQJ GUXFNHQ ODVVHQ LFK ZUGH PLFK XP NHLQHQ 3UHLV GD]X EHUHLW ILQGHQ +HUUQ %XUGRZVNLM ]XIULHGHQ]XVWHOOHQ XQG 6LH PWHQ PLU GDUXP HLQHQ 6FKUHFN HLQMDJHQXQGDQPLU ,KU0WFKHQNKOHQ $EHUZRKHUZXWHQ 6LH GHQQ GDV" ,FK KDEH PLFK YLHOOHLFKW GDIU HQWVFKLHGHQ +HUUQ %XUGRZVNLM ]XIULHGHQ]XVWHOOHQ ,FK VDJH ,KQHQ MHW]W JHUDGHKHUDXV XQG YRU DOO GLHVHQ =HXJHQ GD LFK LKQ ]XIULHGHQVWHOOHQ ZHUGH © ª1XQ GDV LVW HQGOLFK HLQ YHUVWlQGLJHV HGOHV :RUW HLQHV YHUVWlQGLJHQ HGOHQ 0HQVFKHQ© HUNOlUWH GHU %R[HU ª2 *RWW© ULHI /LVDZHWD 3URNRIMHZQD XQZLOONUOLFK ª'DV LVW QLFKW PHKU ]X HUWUDJHQ© PXUPHOWHGHU*HQHUDO ª(UODXEHQ6LHPHLQH+HUUHQ HUODXEHQ 6LH LFK ZHUGH ,KQHQ GLH 6DFKH DXVHLQDQGHUVHW]HQ© EDW GHU )UVW ª9RU IQI :RFKHQ HUVFKLHQ EHL PLU LQ 6 HLQ +HUU 7VFKHEDURZ ,KU %HYROOPlFKWLJWHU XQG 9HUWUHWHU +HUU
%XUGRZVNLM 6LH KDEHQ LQ ,KUHP $UWLNHO HLQH VHKU VFKPHLFKHOKDIWH 6FKLOGHUXQJ YRQ LKP JHJHEHQ +HUU .HOOHU© ZDQGWH VLFK GHU )UVW DXI HLQPDO DXIODFKHQG DQ GHQ %R[HU ªDEHUPLUJHILHOHUJDQ]XQGJDUQLFKW0LUZDUJOHLFKEHLGHU HUVWHQ %HJHJQXQJ NODU GD GLHVHU 7VFKHEDURZ GLH +DXSWWULHEIHGHU EHL GHU JDQ]HQ $QJHOHJHQKHLW XQG ZRKO GHUMHQLJHLVWGHU6LH+HUU%XUGRZVNLMXQWHU$XVQXW]XQJ,KUHU 1DLYLWlW]XGLHVHPJDQ]HQ9RUJHKHQDQJHVWLIWHWKDWZHQQLFK RIIHQ UHGHQ VROO© ª6LH KDEHQ NHLQ 5HFKW LFK ELQ QLFKW QDLY GDV © VWRWWHUWH %XUGRZVNLM DXIJHUHJW ª6LH KDEHQ NHLQHUOHL %HUHFKWLJXQJ VROFKH 9HUPXWXQJHQ DXV]XVSUHFKHQ© IJWH IU LKQ HLQWUHWHQG /HEHGHZV 1HIIH KLQ]X ª'DV LVW LP K|FKVWHQ *UDGH EHOHLGLJHQG© NUHLVFKWH ,SSROLW ª(LQH EHOHLGLJHQGH OJHQKDIWH 9HUPXWXQJ GLH JDU QLFKW ]XU 6DFKH JHK|UW© ª9HU]HLKXQJ PHLQH +HUUHQ 9HU]HLKXQJ© HQWVFKXOGLJWH VLFK GHU )UVW HLOLJ ª%LWWH YHU]HLKHQ 6LH ,FK KDEHHVQXUGHVZHJHQJHVDJWZHLOLFKPHLQWHHVZUGHZRKO GDV EHVWH VHLQ ZHQQ ZLU JHJHQHLQDQGHU Y|OOLJ DXIULFKWLJ ZlUHQDEHUZLH6LHZROOHQJDQ]ZLH6LHZROOHQ,FKVDJWH]X +HUUQ7VFKHEDURZGDLFKQLFKWLQ3HWHUVEXUJVHLVRZUGHLFK XQYHU]JOLFKHLQHP)UHXQG]XU(UOHGLJXQJ GHU $QJHOHJHQKHLW 9ROOPDFKW HUWHLOHQ XQG 6LH +HUU %XUGRZVNLM GDYRQ EHQDFKULFKWLJHQ ,FK VDJH ,KQHQ JHUDGHKHUDXV PHLQH +HUUHQ GD PLU GLHVH 6DFKH DOV HLQH DUJH *DXQHUHL HUVFKLHQ HEHQ GHVKDOE ZHLO GLHVHU 7VFKHEDURZ GDEHL EHWHLOLJW ZDU 2K IKOHQ 6LH VLFK QLFKW EHOHLGLJW PHLQH +HUUHQ 8P *RWWHV ZLOOHQ IKOHQ 6LH VLFK QLFKW EHOHLGLJW© ULHI GHU )UVW HUVFKURFNHQGDHUVDKGD%XUGRZVNLMZLHGHUHLQHJHNUlQNWH HPS|UWH 0LHQH PDFKWH XQG VHLQH )UHXQGH VLFK DQVFKLFNWHQ DXIJHUHJW ]X SURWHVWLHUHQ ª(V NDQQ VLFK GRFK QLFKW DXI 6LH SHUV|QOLFKEH]LHKHQZHQQLFKVDJHGDLFKGLH6DFKHIUHLQH *DXQHUHL KLHOW ,FK NDQQWH MD GDPDOV QLHPDQG YRQ ,KQHQ SHUV|QOLFKQLFKWHLQPDO,KUH1DPHQLFKXUWHLOWHQXUQDFKGHP (LQGUXFN GHQ PLU 7VFKHEDURZ PDFKWH LFK VDJH GDV
EHUKDXSW ZHLO ZHQQ 6LH ZWHQ ZLH VFKUHFNOLFK LFK EHWURJHQ ZRUGHQ ELQ VHLWGHP LFK GLH (UEVFKDIW JHPDFKW KDEH© ª)UVW 6LH VLQG IXUFKWEDU QDLY© EHPHUNWH /HEHGHZV 1HIIHVS|WWLVFKª8QGGDEHLHLQ)UVWXQGHLQ0LOOLRQlU7URW] ,KUHVYLHOOHLFKWZLUNOLFKJXWHQVFKOLFKWHQ+HU]HQVN|QQHQ6LH GHP DOOJHPHLQHQ *HVHW] QDWUOLFK GRFK QLFKW HQWJHKHQ© lXHUWH ,SSROLW ª0|JOLFK VHKU P|JOLFK PHLQH +HUUHQ© HUZLGHUWH GHU )UVW UDVFK ªREZRKO LFK QLFKW YHUVWHKH YRQ ZHOFKHP DOOJHPHLQHQ *HVHW] 6LH UHGHQ $EHU LFK IDKUH IRUW IKOHQ 6LH VLFK QXU QLFKW VR JDQ] RKQH *UXQG EHOHLGLJW LFK VFKZ|UH ,KQHQ GLH $EVLFKW 6LH ]X NUlQNHQ OLHJW PLU DEVROXW IHUQ 8QG LQ GHU 7DW ZDV VROO GHQQ GDV EHGHXWHQ PHLQH +HUUHQPDQNDQQMDNHLQHLQ]LJHVRIIHQHV:RUWVDJHQ JOHLFK IKOHQ6LHVLFKEHOHLGLJW(UVWHQVDOVRZDULFKK|FKVWHUVWDXQW GD HLQ ¾6RKQ 3DZOLVFKWVFKHZV½ H[LVWLHUWH XQG ]ZDU LQ VR VFKUHFNOLFKHU /DJH ZLH VLH PLU 7VFKHEDURZ VFKLOGHUWH 3DZOLVFKWVFKHZ LVW PHLQ :RKOWlWHU JHZHVHQ XQG GHU )UHXQG PHLQHV 9DWHUV $FK ZDUXP KDEHQ 6LH LQ ,KUHP $UWLNHO HLQH VROFKH 8QZDKUKHLW EHU PHLQHQ 9DWHU JHVFKULHEHQ +HUU .HOOHU"(UKDWVLFKNHLQH9HUXQWUHXXQJYRQ.RPSDQLHJHOGHUQ XQG NHLQH XQJHUHFKWH %HKDQGOXQJ 8QWHUJHEHQHU ]XVFKXOGHQ NRPPHQ ODVVHQ GDYRQ ELQ LFK IHVW EHU]HXJW ZLH YHUPRFKWH ,KUH +DQG HLQH VROFKH 9HUOHXPGXQJ QLHGHU]XVFKUHLEHQ" 8QG GDVZDV6LHEHU3DZOLVFKWVFKHZJHVFKULHEHQKDEHQLVWGRFK JHUDGH]XXQHUK|UW6LHQHQQHQGLHVHQHGHOVWHQDOOHU0HQVFKHQ HLQHQ /VWOLQJ HLQHQ /HLFKWVLQQLJHQ XQG WXQ GDV PLW HLQHU .KQKHLW XQG 6LFKHUKHLW DOV RE 6LH ZLUNOLFK GLH :DKUKHLW VDJWHQ XQG GDEHL ZDU HU GHU VLWWHQUHLQVWH 0HQVFK GHU MH DXI GHU:HOWJHOHEWKDW(UZDUVRJDUHLQVHKUDFKWEDUHU*HOHKUWHU VWDQG PLW YLHOHQ LQ GHU :LVVHQVFKDIW KRFKDQJHVHKHQHQ 0lQQHUQ LQ %ULHIZHFKVHO XQG JDE YLHO *HOG ]XU )|UGHUXQJ ZLVVHQVFKDIWOLFKHU=ZHFNHDXV:DVDEHUVHLQ+HU]XQGVHLQH JXWHQ 7DWHQ DQODQJW RK GD KDEHQ 6LH DOOHUGLQJV JDQ] ULFKWLJ JHVFKULHEHQ GD LFK GDPDOV EHLQDK HLQ ,GLRW ZDU XQG QLFKWV
ULFKWLJ YHUVWHKHQ NRQQWH REZRKO LFK GRFK 5XVVLVFK ]X VSUHFKHQXQG]XYHUVWHKHQLPVWDQGHZDU DEHUDOOHVZRUDQLFK PLFKMHW]WHULQQHUHYHUPDJLFKGRFKJDQ]JXWLQVHLQHP:HUW ]X EHXUWHLOHQ © ª(UODXEHQ 6LH© NUHLVFKWH ,SSROLW ªZLUG GDV QLFKW DOO]X JHIKOYROO ZHUGHQ" :LU VLQG NHLQH .LQGHU 6LH ZROOWHQ GLUHNW ]XU 6DFKH NRPPHQ HV LVW EDOG ]HKQ 8KU YHUJHVVHQ 6LH GDV QLFKW© ª6FK|Q VFK|Q PHLQH +HUUHQ© VWLPPWHLKPGHU)UVWVRJOHLFKEHL ª1DFK GHU HUVWHQ 5HJXQJ YRQ 0LWUDXHQ VDJWH LFK PLU GD LFK PLFK GRFK LUUHQ N|QQH XQG GD 3DZOLVFKWVFKHZ YLHOOHLFKW ZLUNOLFK HLQHQ 6RKQ KDEH $EHU LQ JURHV (UVWDXQHQ YHUVHW]WH PLFK GHU 8PVWDQG GD GLHVHU 6RKQ GDV *HKHLPQLV VHLQHU *HEXUW VR OHLFKWIHUWLJ GDV KHLWLFKZLOOVDJHQVR|IIHQWOLFKSUHLVJLEWXQGYRUDOOHPGD HU VHLQH 0XWWHU YHUXQJOLPSIW 6FKRQ GDPDOV QlPOLFK VXFKWH PLFK 7VFKHEDURZ GXUFK GHQ +LQZHLV DXI HLQH 9HU|IIHQWOLFKXQJ HLQ]XVFKFKWHUQ © ª:DV IU HLQH 'XPPKHLW© ULHI /HEHGHZV 1HIIH ª6LH KDEHQ NHLQ 5HFKW 6LHKDEHQNHLQ5HFKW©VFKULH%XUGRZVNLM 'HU 6RKQ LVW IU GLH /LHGHUOLFKNHLW VHLQHV 9DWHUV QLFKW YHUDQWZRUWOLFK XQG GLH 0XWWHU WUlJW NHLQH 6FKXOG© NUHLVFKWH ,SSROLW VHKU HUUHJW ª8P VR PHKU YHUGLHQWH VLH JHVFKRQW ]X ZHUGHQP|FKWHPDQPHLQHQ©HUZLGHUWHGHU)UVWVFKFKWHUQ ª6LH VLQG QLFKW QXU QDLY )UVW VRQGHUQ YLHOOHLFKW QRFK HWZDV PHKU© EHPHUNWH /HEHGHZV 1HIIH PLW ERVKDIWHP /lFKHOQ ª8QGZHOFKHV5HFKWKDWWHQ6LH©NUHLVFKWH,SSROLWPLWJDQ] XQQDWUOLFKHU 6WLPPH ª.HLQHV NHLQHV© XQWHUEUDFK LKQ GHU )UVW HLOLJ 'DULQ KDEHQ 6LH UHFKW GDV HUNHQQH LFK DQ DEHU MHQHU*HGDQNHZDUPLUGDPDOVJDQ]XQZLOONUOLFKJHNRPPHQ XQG LFK VDJWH PLU GDUDXI VRJOHLFK VHOEVW GD PHLQH SHUV|QOLFKHQ *HIKOH NHLQHQ (LQIOX DXI GLH %HKDQGOXQJ GHU 6DFKH KDEHQ GUIWHQ GHQQ ZHQQ LFK DXV 'DQNEDUNHLW JHJHQ 3DZOLVFKWVFKHZ GLH 9HUSIOLFKWXQJ DQHUNHQQHQ ZROOH +HUUQ %XUGRZVNLMV )RUGHUXQJHQ ]X EHIULHGLJHQ VR PVVH LFK VLH HEHQ LQ MHGHP )DOOH EHIULHGLJHQ GDV KHLW RKQH 5FNVLFKW
GDUDXI RE LFK JHJHQ +HUUQ %XUGRZVNLM YRQ +RFKDFKWXQJ HUIOOWVHLRGHUQLFKW,FKKDEHKLHUYRQQXUGHVZHJHQ]XUHGHQ EHJRQQHQPHLQH+HUUHQZHLOHVPLUGRFKXQQDWUOLFKVFKLHQ GD HLQ 6RKQ GDV *HKHLPQLV VHLQHU 0XWWHU VR YRU DOOHU gIIHQWOLFKNHLW NXQGJLEW 0LW HLQHP :RUW GLHV ZDU GHU +DXSWJUXQG ZHVZHJHQ LFK ]X GHU hEHU]HXJXQJ JHODQJWH GLHVHU 7VFKHEDURZ PVVH HLQH .DQDLOOH VHLQ XQG KDEH +HUUQ %XUGRZVNLM GXUFK %HWUXJ ]X GLHVHU *DXQHUHL DXIJHKHW]W© ª$EHUGDVLVWMDQLFKWPHKU]XP$XVKDOWHQ©ZXUGHYRQ6HLWHQ GHU *lVWH JHUXIHQ YRQ GHQHQ HLQLJH VRJDU YRQ LKUHQ 6WKOHQ DXIVSUDQJHQ ª0HLQH +HUUHQ ,FK VDJWH PLU GDKHU GHU XQJOFNOLFKH +HUU %XUGRZVNLM PVVH HLQ HLQIlOWLJHU VFKXW]ORVHU 0HQVFK VHLQ GHU VLFK OHLFKW HLQHP EHOLHELJHQ *DXQHU IJW XQG LFK VHL PLWKLQ XP VR PHKU YHUSIOLFKWHW LKP DOV GHP ¾6RKQ 3DZOLVFKWVFKHZV½ ]X KHOIHQ XQG ]ZDU HUVWHQV GDGXUFK GD LFK +HUUQ 7VFKHEDURZ HQWJHJHQWUDW ]ZHLWHQV GXUFK PHLQH (UJHEHQKHLW XQG )UHXQGVFKDIW LQGHP LFK LKQ ]X OHLWHQVXFKWHXQGGULWWHQVGXUFK $XV]DKOXQJYRQ]HKQWDXVHQG 5XEHOQ GDV KHLW GHU JDQ]HQ 6XPPH GLH QDFK PHLQHU %HUHFKQXQJ 3DZOLVFKWVFKHZ IU PLFK DXIJHZHQGHW KDEHQ GUIWH© ª:LH" 1XU ]HKQWDXVHQG 5XEHO"© VFKULH ,SSROLW ª1D LP 5HFKQHQ VLQG 6LH QLFKW VHKU VWDUN )UVW RGHU YLHOOHLFKW DXFKVHKUVWDUNREZRKO6LHVLFKVRQDLYXQGKDUPORVVWHOOHQ© ULHI /HEHGHZV 1HIIH ª,FK JHKH DXI ]HKQWDXVHQG QLFKW HLQ© VDJWH %XUGRZVNLM ª$QWLS QLPP HV DQ© ULHW LKP GHU %R[HU VFKQHOO]ZDUIOVWHUQGDEHUGRFKIUDOOHYHUQHKPOLFKLQGHP HU VLFK EHU ,SSROLWV 6WXKOOHKQH KLQZHJ YRQ KLQWHQ ]X LKP KLQEHXJWH ª1LPP HV DQ QDFKKHU ZHUGHQ ZLU ZHLWHU VHKHQ© ª+|UHQ6LHPDO+HUU0\VFKNLQ©NUHLVFKWH,SSROLWªEHJUHLIHQ 6LH GRFK HQGOLFK GD ZLU NHLQH 'XPPN|SIH VLQG NHLQH JHPHLQHQ 'XPPN|SIH ZLH HV ZDKUVFKHLQOLFK DOOH ,KUH *lVWH YRQXQVJODXEHQDXFKGLHVH'DPHQGLHVRHQWUVWHWEHUXQV OlFKHOQ XQG EHVRQGHUV GLHVHU QREOH +HUU© HU ZLHV DXI -HZJHQLM3DZORZLWVFK ªGHQLFKQDWUOLFKQLFKWGLH(KUHKDEH
]XNHQQHQYRQGHPLFKDEHUZRKOVFKRQHWZDVJHK|UWKDEH© ª(UODXEHQ 6LH HUODXEHQ 6LH PHLQH +HUUHQ 6LH KDEHQ PLFK ZLHGHUQLFKWUHFKWYHUVWDQGHQ©ZDQGWHVLFKGHU)UVWHUUHJWDQ VLH ª(UVWHQV KDEHQ 6LH +HUU .HOOHU LQ ,KUHP $UWLNHO PHLQ 9HUP|JHQJDQ]XQJHQDXDQJHJHEHQLFKKDEHNHLQH0LOOLRQHQ HUKDOWHQLFKEHVLW]HYLHOOHLFKWQXUHLQ$FKWHORGHUHLQ=HKQWHO GHVVHQ ZDV 6LH EHL PLU YRUDXVVHW]HQ ]ZHLWHQV VLQG LQ GHU 6FKZHL] JDU QLFKW VR HQRUPH 6XPPHQ IU PLFK DXVJHJHEHQ ZRUGHQ 6FKQHLGHU HUKLHOW VHFKVKXQGHUW 5XEHO MlKUOLFK XQG DXFK GDV QXU LQ GHQ HUVWHQ GUHL -DKUHQ DXFK KDW 3DZOLVFKWVFKHZ QLHPDOV KEVFKH *RXYHUQDQWHQ DXV 3DULV JHKROWGDVLVWZLHGHU9HUOHXPGXQJ0HLQHV(UDFKWHQVEHWUlJW GHU IU PLFK JHPDFKWH $XIZDQG HUKHEOLFK ZHQLJHU DOV ]HKQWDXVHQG 5XEHO $EHU GRFK KDEH LFK GLHVH 6XPPH DQJHVHW]WXQG 6LH PVVHQ VHOEVW ]XJHEHQ GD LFK HLQH 6FKXOG ]XUFN]DKOHNDQQLFK+HUUQ%XUGRZVNLMVFKOHFKWHUGLQJVQLFKW PHKU DQELHWHQ VHOEVW ZHQQ LFK LKQ DXHURUGHQWOLFK OLHEKlWWH LFKNDQQHVVFKRQ DXV 7DNWJHIKO QLFKW GD LFK LKP HEHQ HLQH 6FKXOG]XUFN]DKOHXQGLKPQLFKWHWZDHLQ$OPRVHQ]XZHQGH ,FKEHJUHLIHQLFKWPHLQH+HUUHQZLH,KQHQGDVXQYHUVWlQGOLFK VHLQ NDQQ $EHU LFK ZROOWH GDV QDFKKHU DOOHV GXUFK PHLQH )UHXQGVFKDIWXQGPHLQHWlWLJH7HLOQDKPHDQGHP(UJHKHQGHV XQJOFNOLFKHQ +HUUQ %XUGRZVNLM DXVJOHLFKHQ GHU RKQH =ZHLIHO EHWURJHQ ZRUGHQ LVW GD HU VRQVW XQP|JOLFK HLQHU VROFKHQ *HPHLQKHLW ]XJHVWLPPW KlWWH ZLH VLH +HUUQ .HOOHUV KHXWLJH bXHUXQJHQ EHU VHLQH 0XWWHU LQ GLHVHP $UWLNHO GDUVWHOOHQ$EHUZDUXPJHUDWHQ6LHGHQQZLHGHUDXHUVLFK PHLQH +HUUHQ" $XI GLH $UW ZHUGHQ ZLU HLQDQGHU VFKOLHOLFK EHUKDXSW QLFKW PHKU YHUVWHKHQ :DV LFK JHGDFKW KDWWH KDW VLFK MD GRFK DOV ]XWUHIIHQG KHUDXVJHVWHOOW ,FK KDEH PLFK MHW]W PLW HLJHQHQ $XJHQ EHU]HXJW GD PHLQH 9HUPXWXQJ ULFKWLJ ZDU© VDJWH LQ ELWWHQGHP 7RQ GHU JDQ] LQ (LIHU JHNRPPHQH )UVW GHU GLH (UUHJXQJ ]X EHVlQIWLJHQ ZQVFKWH XQG QLFKW PHUNWHGDHUVLHQXUVWHLJHUWHª:DV":RYRQKDEHQ6LHVLFK
EHU]HXJW"©VFKULHQGLH*HJQHUZWHQGDXILKQORVª$EHULFK ELWWH 6LH HUVWHQV KDEH LFK VHOEVW *HOHJHQKHLW JHKDEW +HUUQ %XUGRZVNLM JHQDX NHQQHQ]XOHUQHQ XQG VHKH MHW]W VHOEVW ZHV *HLVWHV.LQGHULVW(ULVWHLQXQVFKXOGLJHU0HQVFKGHUYRQ DOOHQ EHWURJHQ ZLUG 8QG HU LVW HLQ VFKXW]ORVHU 0HQVFK XQG GDUXP LVW HV PHLQH 3IOLFKW VFKRQHQG PLW LKP ]X YHUIDKUHQ 8QG ]ZHLWHQV KDW *DZULOD $UGDOLRQRZLWVFK LQ GHVVHQ +lQGH LFK GLHVH 6DFKH JHOHJW KDEH XQG YRQ GHP PLU ODQJH NHLQH 1DFKULFKW ]XJHJDQJHQ ZDU GD HU VLFK XQWHUZHJV EHIDQG XQG GDQQGUHL7DJHODQJLQ3HWHUVEXUJNUDQNODJGHUKDWSO|W]OLFK MHW]W HUVW YRU HLQHU 6WXQGH EHL XQVHUP HUVWHQ :LHGHUVHKHQ PLU PLWJHWHLOW HU KDEH 7VFKHEDURZV $EVLFKWHQ VlPWOLFK GXUFKVFKDXW XQG EHVLW]H GLH HUIRUGHUOLFKHQ %HZHLVH 7VFKHEDURZVHLJHQDXGHU0HQVFKDOVGHQLFKLKQHLQJHVFKlW]W KlWWH ,FK ZHL MD PHLQH +HUUHQ GD YLHOH PLFK IU HLQHQ ,GLRWHQ KDOWHQ XQG GD LFK LQ GHP 5XI VWDQG OHLFKW *HOG KLQ]XJHEHQ VR KLHOW 7VFKHEDURZ HV IU HLQH VHKU OHLFKWH $XIJDEHPLFK]XEHWUJHQXQGUHFKQHWHGDEHLEHVRQGHUVDXI PHLQH GDQNEDUHQ (PSILQGXQJHQ JHJHQEHU 3DZOLVFKWVFKHZ $EHU GLH +DXSWVDFKH LVW ± K|UHQ 6LH ]X PHLQH +HUUHQ K|UHQ 6LH ]X ±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
9HUVWlQGQLV HUKDW6LHDOOHKLQWHUV/LFKWJHIKUWXQG6LHDOOH LQ HLQH *DXQHUHL YHUZLFNHOW GHQQ GLH JDQ]H 6DFKH LVW LQ :LUNOLFKNHLWQLFKWVDQGHUHVDOV*DXQHUHLXQG%HWUXJ©ª:LHVR *DXQHUHL":LHVRVROOHUQLFKW¾3DZOLVFKWVFKHZV6RKQ½VHLQ" :LH LVW GDV P|JOLFK" © HUW|QWH HV YRQ DOOHQ 6HLWHQ %XUGRZVNLMV JDQ]HV *HIROJH EHIDQG VLFK LQ XQVDJEDUHU 9HUZLUUXQJXQG$XIUHJXQJ ª-D JHZL*DXQHUHL:HQQVLFK MHW]WKHUDXVVWHOOWGD+HUU%XUGRZVNLMQLFKW¾3DZOLVFKWVFKHZV 6RKQ½ LVW VR HUZHLVW VLFK MD GDPLW +HUUQ %XUGRZVNLMV )RUGHUXQJJHUDGH]XDOV*DXQHUHLGDVKHLWVHOEVWYHUVWlQGOLFK ZHQQ HU GLH :DKUKHLW ZWH DEHU GDV LVW HV MD HEHQ GD HU JHWlXVFKW ZRUGHQ LVW XQG GDUXP EHPKH LFK PLFK VR HQHUJLVFK LKQ ]X YHUWHLGLJHQ GDUXP VDJH LFK DXFK GD HU ZHJHQ VHLQHU 1DLYLWlW EHPLWOHLGHW ]X ZHUGHQ YHUGLHQW VRQVW HUVFKLHQHHULQGLHVHU6DFKHVHOEVWDOVHLQ*DXQHU$EHULFKIU PHLQH3HUVRQELQEHUHLWVEHU]HXJWGDHUQLFKWVGDYRQZHL ,FKVHOEVWKDEHPLFKYRUPHLQHU$EUHLVHQDFKGHU6FKZHL]LQ GHUVHOEHQ /DJH EHIXQGHQ KDEH HEHQIDOOV XQ]XVDPPHQ KlQJHQGH :RUWH JHVWDPPHOW ± PDQ ZLOO VLFK DXVGUFNHQ XQG LVWQLFKWGD]XLPVWDQGH,FKKDEHGDIU9HUVWlQGQLVLFKNDQQ HV LKP VHKU QDFKHPSILQGHQ ZHLO LFK VHOEVW IDVW HLQ HEHQVROFKHU0HQVFKZDULFKGDUIGDUEHUUHGHQ8QGHQGOLFK ZLOO LFK GHQQRFK REZRKO HU MHW]W QLFKW PHKU ¾3DZ± OLVFKWVFKHZV6RKQ½LVWXQGDOOHVVLFKDOV0\VWLILNDWLRQHUZHLVW LFK ZLOO GHQQRFK PHLQHQ (QWVFKOX QLFKW DQGHUQ XQG ELQ EHUHLWLKPGLH]HKQWDXVHQG5XEHODXV]X]DKOHQ]XP$QGHQNHQ DQ 3DZOLVFKWVFKHZ (LJHQWOLFK ZROOWH LFK MD YRU +HUUQ %XUGRZVNLMV $XIWUHWHQ GLHVH ]HKQWDXVHQG 5XEHO ]XP $QGHQNHQDQ3DZOLVFKWVFKHZIUHLQH6FKXOHYHUZHQGHQDEHU HVLVWMDMHW]WJDQ]JOHLFKRELFKVLHIUHLQH6FKXOHYHUZHQGH RGHUVLH+HUUQ %XUGRZVNLM JHEHZHLO+HUU%XUGRZVNLM ZHQQ HU DXFK QLFKW ¾3DZOLVFKWVFKHZV 6RKQ½ LVW GRFK EHLQDK DQ 6WHOOHHLQHVVROFKHQVWHKWGDPDQLKQVHOEVWGDUEHUVRERVKDIW JHWlXVFKWKDWXQGHUVHOEVWVLFKDXIULFKWLJIU3DZOLVFKWVFKHZV
6RKQ JHKDOWHQ KDW +|UHQ 6LH QXQ PLW DQ PHLQH +HUUHQ ZDV *DZULOD $UGDOLRQRZLWVFK XQV VDJHQ ZLUG EULQJHQ ZLU GLH 6DFKH]X(QGHVHLHQ6LHQLFKW]RUQLJUHJHQ6LHVLFKQLFKWDXI VHW]HQ 6LH VLFK KLQ *DZULOD $UGDOLRQRZLWVFK ZLUG XQV VRJOHLFK DOOHV HUNOlUHQ XQG LFK JHVWHKH GD LFK VHOEVW DXHURUGHQWOLFKEHJLHULJELQDOOH(LQ]HOKHLWHQ]X HUIDKUHQ (U VDJWHHUVHLVRJDUQDFK3VNRZ]X,KUHU0XWWHUJHIDKUHQ+HUU %XUGRZVNLMGLHNHLQHVZHJVJHVWRUEHQLVWZLHPDQ6LHLQGHP $UWLNHO KDW VFKUHLEHQ ODVVHQ 6HW]HQ 6LH VLFK GRFK PHLQH +HUUHQVHW]HQ6LHVLFKGRFK© 'HU )UVW VHW]WH VLFK XQG HV JHODQJ LKP DXFK +HUUQ %XUGRZVNLMV %HJOHLWHU GLH YRQ LKUHQ 3OlW]HQ DXIJHVSUXQJHQ ZDUHQZLHGHU]XP+LQVHW]HQ]XEHZHJHQ,QGHQOHW]WHQ]HKQ RGHU ]ZDQ]LJ 0LQXWHQ KDWWH HU KLW]LJ ODXW LQ XQJHGXOGLJHU +DVW JHVSURFKHQ VLFK KLQUHLHQ ODVVHQ XQG DOOH DQGHUQ ]X EHUVFKUHLHQ JHVXFKW MHW]W JOHLFK GDUDXI EHUHXWH HU QDWUOLFK ELWWHU HLQLJH LKP HQWVFKOSIWH $XVGUFNH XQG GLH bXHUXQJ JHZLVVHU 9HUPXWXQJHQ +lWWH PDQ LKQ QLFKW VR JHUHL]W XQG JDQ] DXHU VLFK JHEUDFKW VR ZUGH HU HV VLFK QLFKW JHVWDWWHW KDEHQ PDQFKH 9HUPXWXQJHQ VR XQYHUKOOW XQG KDVWLJ PLW XQQ|WLJHU 2IIHQKHU]LJNHLW DXV]XVSUHFKHQ $EHU NDXP KDWWH HU VLFK ZLHGHU DXI VHLQHQ 3ODW] JHVHW]W DOV HLQ VFKPHU]KDIW EUHQQHQGHV *HIKO GHU 5HXH VHLQ +HU] GXUFKGUDQJ HU KDWWH %XUGRZVNLM QLFKW QXU GDGXUFK ªEHOHLGLJW© GD HU VR ODXW XQG |IIHQWOLFK EHL LKP GLHVHOEH .UDQNKHLW YRUDXVVHW]WH JHJHQ GLH HU VHOEVW LQ GHU 6FKZHL] HLQH .XU JHEUDXFKW KDWWH VRQGHUQ HU KDWWH LKP DXFK GDV $QJHERW GHU HLJHQWOLFK IU HLQH 6FKXOH EHVWLPPWHQ ]HKQWDXVHQG 5XEHO VHLQHU 0HLQXQJ QDFK LQ HLQHU SOXPSHQXQYRUVLFKWLJHQ:HLVHJHPDFKWQDPHQWOLFKLQVRIHUQ DOV HU HV YRU DOOHQ /HXWHQ PLW ODXWHQ :RUWHQ JHWDQ KDWWH ¾,FK KlWWH ZDUWHQ XQG HV LKP PRUJHQ XQWHU YLHU $XJHQ DQELHWHQ PVVHQ½ GDFKWH GHU )UVW VRJOHLFK ¾DEHU GDV LVW MHW]W ZRKO QLFKW PHKU JXW]XPDFKHQ -D LFK ELQ HLQ ,GLRW HLQ ULFKWLJHU ,GLRW½ VDJWH HU VLFK LQ HLQHP $QIDOO YRQ 6FKDP XQG
DXIULFKWLJHU%HWUEQLV ,Q]ZLVFKHQZDU*DZULOD$UGDOLRQRZLWVFKGHUVLFKELVGDKLQ DEVHLWV JHKDOWHQ XQG EHKDUUOLFK JHVFKZLHJHQ KDWWH DXI GHV )UVWHQ$XIIRUGHUXQJYRUJHWUHWHQKDWWHVLFKQHEHQLKQJHVWHOOW XQG EHJDQQ QXQ UXKLJ XQG NODU EHU GLH $XVIKUXQJ GHV LKP YRP )UVWHQ HUWHLOWHQ $XIWUDJHV %HULFKW ]X HUVWDWWHQ $OOH *HVSUlFKH ZDUHQ DXJHQEOLFNOLFK YHUVWXPPW $OOH K|UWHQ K|FKVWJHVSDQQW]XQDPHQWOLFK%XUGRZVNLMVJDQ]HV*HIROJH
,; ª6LH ZHUGHQ JHZL QLFKW OHXJQHQ© EHJDQQ *DZULOD $UGDOLRQRZLWVFK VLFK VSH]LHOO DQ %XUGRZVNLM ZHQGHQG GHU PLW JU|WHU $QVWUHQJXQJ ]XK|UWH LKQ YRU (UVWDXQHQ PLW ZHLW DXIJHULVVHQHQ $XJHQ DQVWDUUWH XQG VLFK RIIHQEDU LQ K|FKVWHU 9HUZLUUXQJ EHIDQG ª6LH ZHUGHQ XQG ZROOHQ JHZL QLFKW HUQVWOLFK OHXJQHQ GD 6LH JHQDX ]ZHL -DKUH QDFK GHU 9HUKHLUDWXQJ ,KUHU YHUHKUWHQ 0XWWHU PLW GHP .ROOHJLHQVHNUHWDU +HUUQ %XUGRZVNLM ,KUHP 9DWHU JHERUHQ VLQG'LH=HLW,KUHU*HEXUWOlWVLFKVHKUOHLFKWGRNXPHQWDULVFK IHVWVWHOOHQVRGDGLHIU6LHXQG,KUH0XWWHUVREHOHLGLJHQGH (QWVWHOOXQJ GLHVHU 7DWVDFKH LQ +HUUQ .HOOHUV $UWLNHO VLFK HLQ]LJ XQG DOOHLQ DOV HLQ 6SLHO GHU HLJHQHQ 3KDQWDVLH GLHVHV +HUUQ GDUVWHOOW GHU GHU 0HLQXQJ ZDU GDGXUFK GLH (YLGHQ] ,KUHV 5HFKWV ]X HUK|KHQ XQG VR ,KUHQ ,QWHUHVVHQ ]X GLHQHQ +HUU.HOOHUVDJWHUKDEH,KQHQGHQ$UWLNHOYRUKHUYRUJHOHVHQ ZHQQ DXFK QLFKW JDQ] RKQH DOOHQ =ZHLIHO KDW HU LKQ ,KQHQ QLFKW ELV ]X GLHVHU 6WHOOH YRUJHOHVHQ © ª%LV ]X GLHVHU 6WHOOH DOOHUGLQJV QLFKW© XQWHUEUDFK LKQ GHU %R[HU ªDEHU DOOH 7DWVDFKHQ ZDUHQ PLU YRQ HLQHU YHUWUDXHQVZUGLJHQ
3HUV|QOLFKNHLW PLWJHWHLOW ZRUGHQ XQG LFK © ª9HU]HLKHQ 6LH +HUU.HOOHU©XQWHUEUDFKLKQ*DZULOD$UGDOLRQRZLWVFKªODVVHQ 6LH PLFK MHW]W UHGHQ ,FK YHUVLFKHUH ,KQHQ GD ZLU ]XU JHJHEHQHQ =HLW DXFK QRFK DXI ,KUHQ $UWLNHO ]X VSUHFKHQ NRPPHQ ZHUGHQ GDQQ N|QQHQGH ,KUH (UNOlUXQJHQ DEJHEHQ MHW]W DEHU ZROOHQ ZLU OLHEHU GHU 5HLKH QDFK IRUWIDKUHQ *DQ] ]XIl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lFKOLFKHQ $QJDEHQ OlW VLFK PLW ]ZLQJHQGHU 6LFKHUKHLW RKQH GD LUJHQGZHOFKH:LGHUOHJXQJRGHUDXFKQXUHLQ=ZHLIHOP|JOLFK ZlUH EHZHLVHQ GD 1LNRODL $QGUHMHZLWVFK GDPDOV LQV $XVODQGJHUHLVWZDUZRHUVLFKXQXQWHUEURFKHQGUHL-DKUHODQJ DXIKLHOW JHUDGH DQGHUWKDOE -DKUH YRU ,KUHU *HEXUW +HUU %XUGRZVNLM ,KUH 0XWWHU KDW ZLH ,KQHQ EHNDQQW LVW 5XODQG QLH YHUODVVHQ ,P $XJHQEOLFN ZHUGH LFK GLHVH %ULHIH QLFKW YRUOHVHQGD]XLVWHVVFKRQ]XVSlWLFKZHLVHQXUIUDOOH)lOOH DXIGLHVHV)DNWXPKLQ$EHUZHQQHV,KQHQDQJHQHKPLVW+HUU %XUGRZVNLM HLQH =XVDPPHQNXQIW LQ PHLQHU :RKQXQJ PHLQHWZHJHQ JOHLFK PRUJHQ IUK IHVW]XVHW]HQ XQG ,KUH =HXJHQ LQ MHGHU EHOLHELJHQ $Q]DKO VRZLH 6DFKYHUVWlQGLJH ]XU 9HUJOHLFKXQJ GHU +DQGVFKULIW PLW]XEULQJHQ VR KHJH LFK QLFKW GHQ JHULQJVWHQ =ZHLIHO GD 6LH QLFKW ZHUGHQ XPKLQN|QQHQ VLFK YRQ GHU HYLGHQWHQ :DKUKHLW GHU YRQ PLU
PLWJHWHLOWHQ7DWVDFKH]XEHU]HXJHQ:HQQGHPDEHUVRLVWVR IlOOW VHOEVWYHUVWlQGOLFK GLH JDQ]H 6DFKH ]XVDPPHQ XQG LVW GDPLWYRQVHOEVWHUOHGLJW© :LHGHU IROJWH HLQH DOOJHPHLQH %HZHJXQJ XQG WLHIJHKHQGH 8QUXKH %XUGRZVNLM VHOEVW VWDQG SO|W]OLFK YRQ VHLQHP 6WXKO DXIª:HQQHVVRLVWGDQQELQLFKEHWURJHQZRUGHQEHWURJHQ DEHU QLFKW YRQ 7VFKHEDURZ VRQGHUQ VFKRQ YRU VHKU ODQJHU =HLW LFK ZLOO NHLQH 6DFKYHUVWlQGLJHQ LFK ZLOO NHLQH =XVDPPHQNXQIW LFK JODXEH HV VR VFKRQ LFK YHU]LFKWH LFK QHKPHGLH]HKQWDXVHQG5XEHOQLFKWDQ/HEHQ6LHZRKO© (U JULII QDFK VHLQHU 0W]H XQG VFKRE VHLQHQ 6WXKO ]XUFN XP IRUW]XJHKHQ ª:HQQ HV ,KQHQ P|JOLFK LVW +HUU %XUGRZVNLM© KLHOW LKQ *DZULOD $UGDOLRQRZLWVFK PLW OHLVHU 6WLPPH XQG LQ IUHXQGOLFKHP 7RQ DXI ªVR EOHLEHQ 6LH ELWWH QRFK KLHU ZHQQ DXFK QXU IQI 0LQXWHQ (V ZHUGHQ LQ GLHVHU $QJHOHJHQKHLWQRFKHLQLJHDXHURUGHQWOLFKZLFKWLJH7DWVDFKHQ ]XWDJHNRPPHQZLFKWLJEHVRQGHUVIU6LHXQGMHGHQIDOOVVHKU LQWHUHVVDQW 0HLQHU 0HLQXQJ QDFK PVVHQ 6LH GLHVHOEHQ NHQQHQOHUQHQXQGHVZLUG ,KQHQ YLHOOHLFKW VHOEVW DQJHQHKPHU VHLQZHQQGLH6DFKHYROOVWlQGLJDXIJHNOlUWZLUG© %XUGRZVNLMVHW]WHVLFKVFKZHLJHQGZLHGHUKLQOLHGHQ.RSI HLQ ZHQLJ KHUXQWHUKlQJHQ XQG VFKLHQ WLHI LQ *HGDQNHQ YHUVXQNHQ1DFKLKPVHW]WHVLFKDXFK/HEHGHZV1HIIHZLHGHU GHU HEHQIDOOV DXIJHVWDQGHQ ZDU XP LKQ ]X EHJOHLWHQ HU KDWWH ]ZDU QLFKW GHQ .RSI YHUORUHQ XQG YRQ VHLQHU 'UHLVWLJNHLW QLFKWV HLQJHEW ZDU DEHU RIIHQEDU VWDUN EHWURIIHQ ,SSROLW PDFKWH HLQ ILQVWHUHV *HVLFKW ZDU WUDXULJ XQG ZLH HV VFKLHQ VHKU HUVWDXQW ,Q GLHVHP $XJHQEOLFN PXWH HU EULJHQV VR KHIWLJ KXVWHQ GD HU VRJDU VHLQ 7DVFKHQWXFK PLW %OXW EHIOHFNWH'HU%R[HUZDUJDQ]HUVFKURFNHQª$FK$QWLS©ULHI HUWUEVHOLJ ªLFKKDWWHGLUMDGDPDOVYRUJHVWHUQJHVDJWGD GXYLHOOHLFKWJDUQLFKW3DZOLVFKWVFKHZV6RKQELVW© 0DQ K|UWH YHUKDOWHQHV /DFKHQ ]ZHL RGHU GUHL GHU $QZHVHQGHQ ODFKWHQ ODXWHU DOV GLH DQGHUQ ª'DV )DNWXP GDV
6LH XQV VRHEHQ PLWWHLOWHQ +HUU .HOOHU© EHJDQQ *DZULOD $UGDOLRQRZLWVFK ZLHGHU ªLVW VHKU ZHUWYROO 1LFKWVGHVWR ZHQLJHU ELQ LFK DXI *UXQG ]XYHUOlVVLJHU 7DWVDFKHQ Y|OOLJ ]X GHU %HKDXSWXQJ EHUHFKWLJW GD +HUUQ %XUGRZVNLM ]ZDU QDWUOLFK GHU =HLWSXQNW VHLQHU *HEXUW VHKU ZRKO EHNDQQW ZDU QLFKW DEHU GHU $XIHQWKDOW 3DZOLVFKWVFKHZV LP $XVODQG ZR GLHVHUGHQJU|WHQ7HLOVHLQHV/HEHQV]XEUDFKWHXQGYRQZRHU QDFK 5XODQG LPPHU QXU DXI NXU]H =HLW ]XUFNNHKUWH $XHUGHP LVW DXFK GDV )DNWXP VHLQHU GDPDOLJHQ $EUHLVH DQ VLFK VR ZHQLJ DXIIDOOHQG GD QDFK PHKU DOV ]ZDQ]LJ -DKUHQ VHOEVW VHLQH QDKHQ %HNDQQWHQ VLFK QLFKW GDUDQ HULQQHUQ NRQQWHQ JDQ] ]X VFKZHLJHQ YRQ +HUUQ %XUGRZVNLM GHU GDPDOV QRFK JDU QLFKW JHERUHQ ZDU 1DWUOLFK HUZLHV HV VLFK MHW]WNHLQHVZHJVDOVXQP|JOLFK1DFKIRUVFKXQJHQDQ]XVWHOOHQ DEHU LFK PX EHNHQQHQ GD GLH )HVWVWHOOXQJHQ ]X GHQHQ LFK JHODQJWH PLU QXU JDQ] ]XIlOOLJ JHOXQJHQ VLQG XQG HEHQVRJXW KlWWHQPLOLQJHQN|QQHQ)U+HUUQ%XUGRZVNLMXQGVRJDUIU 7VFKHEDURZ ZDUHQ GLHVH )HVWVWHOOXQJHQ WDWVlFKOLFK IDVW XQP|JOLFKVHOEVWZHQQHVLKQHQLQGHQ6LQQJHNRPPHQZlUH VROFKH 1DFKIRUVFKXQJHQ DQ]XVWHOOHQ $EHU P|JOLFKHUZHLVH LVW HV LKQHQ JDU QLFKW LQ GHQ 6LQQ JHNRPPHQ © ª(UODXEHQ 6LH +HUU ,ZROJLQ© XQWHUEUDFK LKQ SO|W]OLFK ,SSROLW JHUHL]W ªZHOFKHQ =ZHFN VROO GLHVHU JDQ]H *DOLPDWKLDV KDEHQ YHU]HLKHQ 6LH GHQ $XVGUXFN " 'LH 6DFKH LVW MHW]W DXIJHNOlUW ZLUHUNHQQHQGLHZLFKWLJVWH7DWVDFKHDOVULFKWLJDQZR]XDOVR GLH SHLQOLFKH YHUOHW]HQGH $QJHOHJHQKHLW QRFK ZHLWHU EUHLWWUHWHQ" 6LH P|FKWHQ YLHOOHLFKW PLW GHU *HVFKLFNOLFKNHLW ,KUHU 8QWHUVXFKXQJHQ SUDKOHQ VLFK XQV XQG GHP )UVWHQ JHJHQEHU DOV WFKWLJHU 6SLRQ XQG 'HWHNWLY DXIVSLHOHQ" 2GHU EHDEVLFKWLJHQ 6LH +HUUQ %XUGRZVNLM GXUFK GHQ 1DFKZHLV ]X HQWVFKXOGLJHQ XQG ]X UHFKWIHUWLJHQ GD HU VLFK QXU DXV 8QZLVVHQKHLWDXIGLH6DFKHHLQJHODVVHQKDW"$EHUGDVLVWHLQH 'UHLVWLJNHLW PHLQ +HUU %XUGRZVNLM EHGDUI GHVVHQ QLFKW YRQ ,KQHQ JHUHFKWIHUWLJW XQG HQWVFKXOGLJW ]X ZHUGHQ GDV P|JHQ
6LH ZLVVHQ (U IKOW VLFK YHUOHW]W GLH 6DFKH LVW LKP RKQHKLQ MHW]WSHLQOLFKHUEHILQGHWVLFKLQHLQHUXQEHKDJOLFKHQ/DJHGDV VROOWHQ 6LH PHUNHQ XQG YHUVWHKHQ ª*HQXJ +HUU 7HUHQWMHZ JHQXJ© JHODQJ HV HQGOLFK *DZULOD $UGDOLRQRZLWVFK LKQ ]X XQWHUEUHFKHQ ª%HUXKLJHQ 6LH VLFK UHJHQ 6LH VLFK QLFKW DXI 6LHVFKHLQHQMDGRFKUHFKWNUDQN]XVHLQ6LHWXQPLUVHKUOHLG :HQQ6LHHVDOVRZQVFKHQVRVFKOLHHLFKGDVKHLWLFKVHKH PLFK JHQ|WLJW GLHMHQLJHQ 7DWVDFKHQ GHUHQ YROOVWlQGLJH XQG DXI %HZHLVH JHVWW]WH .HQQWQLV PHLQHV (UDFKWHQV QLFKW EHUIOVVLJ VHLQ ZUGH QXU QRFK LQ DOOHU .U]H PLW]XWHLOHQ© IJWH HU KLQ]X DOV HU HLQH DOOJHPHLQH %HZHJXQJ ZDKUQDKP GLH ZLH 8QJHGXOG DXVVDK ª,FK P|FKWH QXU DOOHQ GLH VLFK IU GLH6DFKHLQWHUHVVLHUHQ]XU.HQQWQLVEULQJHQGD,KUH0XWWHU +HUU %XUGRZVNLM OHGLJOLFK GHVZHJHQ +HUUQ 3DZOLVFKWVFKHZV :RKOZROOHQXQG)UVRUJHJHQRZHLOVLHGLH6FKZHVWHUMHQHV *XWVPlGFKHQV ZDU LQ GDV 1LNRODL $QGUHMHZLWVFK 3DZOLVFKWVFKHZ VHLW VHLQHU -XJHQG VR YHUOLHEW ZDU GD HU VLH XQ]ZHLIHOKDIW JHKHLUDWHW KlWWH ZHQQ VLH QLFKW IUK]HLWLJ JHVWRUEHQZlUH,FKKDEH%HZHLVHGDIUGDGLHVHVWLOOH/LHEH VR VLFKHU XQG ]XYHUOlVVLJ VLH DXFK IHVWVWHKW GRFK VHKU ZHQLJ EHNDQQW ZDU XQG EDOG LQ 9HUJHVVHQKHLW JHULHW 'HV ZHLWHUHQ N|QQWH LFK ,KQHQ GDUOHJHQ GD ,KUH 0XWWHU VFKRQ DOV ]HKQMlKULJHV .LQG YRQ +HUUQ 3DZOLVFKWVFKHZ ZLH HLQH 9HUZDQGWH ]XU (U]LHKXQJ DQJHQRPPHQ ZXUGH GD LKU HLQH EHWUlFKWOLFKH 0LWJLIW DXVJHVHW]W ZXUGH XQG GD DOO GLHVH )UVRUJHEHL3DZOLVFKWVFKHZV]DKOUHLFKHU9HUZDQGWVFKDIWVHKU EHXQUXKLJHQGH *HUFKWH KHUYRUULHI PDQ GDFKWH VRJDU HU ZHUGH VHLQH 3IOHJHWRFKWHU KHLUDWHQ DEHU GLH 6DFKH HQGHWH GDPLWGDVLHDXV1HLJXQJXQGGDVN|QQWHLFK,KQHQDXIGDV VFKODJHQGVWH EHZHLVHQ LP $OWHU YRQ ]ZDQ]LJ -DKUHQ GHQ )HOGPHVVHU+HUUQ%XUGRZVNLMKHLUDWHWH,FKKDEHQXQPHKUHUH ]XYHUOlVVLJH 7DWVDFKHQ ]XVDPPHQJHEUDFKW ]XP %HZHLV GD ,KU 9DWHU +HUU %XUGRZVNLM GHU GXUFKDXV NHLQ HUIDKUHQHU *HVFKlIWVPDQQZDUQDFK(PSIDQJGHU0LWJLIW,KUHU0XWWHULP
%HWUDJHYRQIQI]HKQWDXVHQG5XEHOGHQ'LHQVWTXLWWLHUWHVLFK DXI NDXIPlQQLVFKH 8QWHUQHKPXQJHQ HLQOLH EHWURJHQ ZXUGH GDV .DSLWDO HLQEWH GHQ .XPPHU GDUEHU QLFKW ]X HUWUDJHQ YHUPRFKWH XQG ]X WULQNHQ DQILQJ ZRYRQ HU QDFKKHU NUDQN ZXUGH XQG VFKOLHOLFK IUK]HLWLJ VWDUE LP DFKWHQ -DKU QDFK VHLQHU9HUKHLUDWXQJPLW,KUHU0XWWHU'DUDXIEOLHEGLHVHQDFK LKUHP HLJHQHQ =HXJQLV LQ ELWWHUHU $UPXW ]XUFN XQG ZlUH JDQ] ]XJUXQGH JHJDQJHQ ZHQQ QLFKW 3DZOLVFKWVFKHZ VLH EHVWlQGLJ LQ JURPWLJVWHU :HLVH XQWHUVWW]W KlWWH HU JDE LKU MlKUOLFK HLQH %HLKLOIH ELV ]X VHFKVKXQGHUW 5XEHO )HUQHU KDEH LFK ]DKOORVH =HXJQLVVH GDIU GD HU 6LH DOV 6LH QRFK HLQ NOHLQHV .LQG ZDUHQ EHUDXV OLHEWH $XV GLHVHQ =HXJQLVVHQ VRZLHDXFKZLHGHUDXVGHU%HVWlWLJXQJYRQVHOWHQ,KUHU0XWWHU JHKWKHUYRUGDHUVLHQDPHQWOLFKGHVZHJHQOLHEWHZHLO6LHLQ ,KUHU .LQGKHLW VWRWWHUWHQ XQG GHQ (LQGUXFN HLQHV YHUNUSSHOWHQ EHPLWOHLGHQVZHUWHQ XQJOFNOLFKHQ .LQGHV PDFKWHQ3DZOLVFKWVFKHZDEHUKDWWHZLHLFKDXV]XYHUOlVVLJHQ %HZHLVHQ VFKOR VHLQ JDQ]HV /HEHQ ODQJ HLQH EHVRQGHUH ]lUWOLFKH =XQHLJXQJ IU DOOHV 1LHGHUJHGUFNWH XQG YRQ GHU 1DWXU 9HUQDFKOlVVLJWH EHVRQGHUV ZHQQ HV VLFK XP .LQGHU KDQGHOWH ± HLQH 7DWVDFKH GLH QDFK PHLQHU hEHU]HXJXQJ IU XQVHUH$QJHOHJHQKHLWYRQKRKHU:LFKWLJNHLWLVW (QGOLFKNDQQ LFK PLFK UKPHQ QRFK EHU HLQHQ EHGHXWVDPHQ 3XQNW VHKU JHQDXH8QWHUVXFKXQJHQDQJHVWHOOW]XKDEHQ QlPOLFK GDUEHU ZLH GLHVH DXHURUGHQWOLFKH =XQHLJXQJ 3DZOLVFKWVFKHZV ]X ,KQHQ HU PDFKWH HV P|JOLFK GD 6LH DXI GDV *\PQDVLXP NDPHQ XQG XQWHU EHVRQGHUHU $XIVLFKW XQG $QOHLWXQJ OHUQWHQ HQGOLFK DOOPlKOLFK 3DZOLVFKWVFKHZV 9HUZDQGWH XQG +DXVJHQRVVHQDXIGHQ*HGDQNHQEUDFKWH6LHZlUHQVHLQ6RKQ XQG ,KU 9DWHU QXU HLQ EHWURJHQHU (KHPDQQ $EHU GLH +DXSWVDFKH LVW GD GLHVHU *HGDQNH VLFK HUVW LQ 3DZOLVFKWVFKHZV OHW]WHQ /HEHQVMDKUHQ ]X HLQHU EHVWLPPWHQ DOOJHPHLQHQhEHU]HXJXQJYHUGLFKWHWHGDVKHLW]XHLQHU=HLW DOV DOOH IU GLH (UEVFKDIW ]X IUFKWHQ DQILQJHQ XQG DOV GLH
XUVSUQJOLFKHQ 7DWVDFKHQ LQ 9HUJHVVHQKHLW JHUDWHQ 1DFKIRUVFKXQJHQ DEHU XQP|JOLFK ZDUHQ 2KQH =ZHLIHO LVW GLHVH ,GHH DXFK ]X ,KQHQ JHODQJW +HUU %XUGRZVNLM XQG KDW VLFKYROOVWlQGLJEHL,KQHQIHVWJHVHW]W,KUH0XWWHUPLWGHULFK GLH(KUHKDWWHSHUV|QOLFKEHNDQQW]XZHUGHQZXWH]ZDUYRQ DOOGLHVHQ*HUFKWHQZHLDEHUELVDXIGLHVH6WXQGHQLFKWXQG LFK PHLQHUVHLWV KDEH VLH HEHQIDOOV GDUEHU LQ 8QNHQQWQLV JHODVVHQ GD DXFK 6LH LKU 6RKQ VLFK LP %DQQ GLHVHV *HUFKWHV EHIDQGHQ ,FK IDQG ,KUH KRFKYHUHKUWH 0XWWHU +HUU %XUGRZVNLM LQ 3VNRZ NUDQN XQG LQ lUJVWHU $UPXW LQ GLH VLH GXUFK 3DZOLVFKWVFKHZV 7RG JHUDWHQ LVW 0LW 7UlQHQ GHU 'DQNEDUNHLWWHLOWHVLHPLUPLW GD VLH QXU GXUFK 6LH XQG ,KUH +LOIHLKU/HEHQDXIGHU:HOWIULVWHWVLHHUZDUWHWYLHOYRQ,KQHQ IU GLH =XNXQIW XQG JODXEW IHVW DQ ,KUH NQIWLJHQ (UIROJH © ª'DV ZLUG DEHU QDFKJHUDGH XQHUWUlJOLFK© HUNOlUWH DXI HLQPDO /HEHGHZV 1HIIH ODXW XQG XQJHGXOGLJ ª:DV VROO GHQQ KLHU GLHVHU JDQ]H 5RPDQ"© ª(NHOKDIW *DQ] XQJHK|ULJ© VDJWH ,SSROLW PLW KHIWLJHQ .|USHUEHZHJXQJHQ %XUGRZVNLM DEHU lXHUWH QLFKWV XQG UKUWH VLFK QLFKW HLQPDO ª:DV GDV KLHU VROO"© VDJWH *DZULOD $UGDOLRQRZLWVFK PLW VFKODXHU 0LHQH DOV ZXQGHUH HU VLFK VHKU XQG VFKLFNWH VLFK ERVKDIW DQ QXQ VHLQH 5HVXOWDWH GDU]XOHJHQ ª(UVWHQV LVW +HUU %XUGRZVNLM MHW]W YLHOOHLFKW Y|OOLJ GDYRQ EHU]HXJW GD +HUU 3DZOLVFKWVFKHZ LKQ DXV (GHOPXW OLHEWH XQG QLFKW DOV VHLQHQ 6RKQ 'LHVH 7DWVDFKH PXWH +HUU %XUGRZVNLM HUIDKUHQ GHU YRUKLQ QDFK GHP 9RUOHVHQ GHV $UWLNHOV GHV +HUUQ .HOOHU VHLQ (LQYHUVWlQGQLV XQG VHLQH %LOOLJXQJ DXVVSUDFK ,FK VDJH GDV GHVZHJHQ+HUU%XUGRZVNLMZHLOLFK6LHIUHLQHQDQVWlQGLJHQ 0HQVFKHQ KDOWH =ZHLWHQV HUJLEW GDV GD KLHU QLFKW GLH JHULQJVWH GLHELVFKH *DXQHUHL YRUOLHJW QLFKW HLQPDO YRQ 7VFKHEDURZV6HLWHGDVLVWDXFKIUPLFKHLQZLFKWLJHU3XQNW ZHLO GHU )UVW YRUKLQ LQ GHU (UUHJXQJ EHPHUNWH DXFK LFK VHL GHU $QVLFKW GD HV VLFK EHL GLHVHU $QJHOHJHQKHLW XP HLQH GLHELVFKH *DXQHUHL KDQGOH (V EHVWDQG YLHOPHKU DXI DOOHQ
6HLWHQ HLQH IHVWH h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hEHU]HXJXQJ GHUPDHQ GHU (LQZLUNXQJ 7VFKHEDURZV XQG VHLQHU 8PJHEXQJ XQWHUODJ GD HU GLH 6DFKH IDVW JDU QLFKW DXV SHUV|QOLFKHP ,QWHUHVVH XQWHUQDKPVRQGHUQLQGHU0HLQXQJGDPLWGHU:DKUKHLWGHP )RUWVFKULWWXQGGHU0HQVFKKHLWHLQHQ'LHQVW]XHUZHLVHQ-HW]W DOVRQDFK0LWWHLOXQJGLHVHU7DWVDFKHQZLUGHVDOOHQNODUVHLQ GD +HUU %XUGRZVNLM HLQ UHLQHU &KDUDNWHU LVW WURW] DOOHV JHJHQWHLOLJHQ6FKHLQHVXQGGHU)UVWNDQQLKPMHW]WQRFKHKHU XQG OLHEHU DOV YRUKLQ VHLQH IUHXQGOLFKH 8QWHUVWW]XQJ XQG GLH WDWNUlIWLJH %HLKLOIH DQELHWHQ YRQ GHU HU YRUKLQ VSUDFK DOV HU YRQ GHU 6FKXOH XQG YRQ 3DZOLVFKWVFKHZ UHGHWH© ª+|UHQ 6LH DXI*DZULOD$UGDOLRQRZLWVFKK|UHQ6LHDXI©ULHIGHU)UVWLQ ZLUNOLFKHP 6FKUHFNHQ $EHU HV ZDU VFKRQ ]X VSlW ª,FK KDEH JHVDJW LFK KDEH VFKRQ GUHLPDO JHVDJW© ULHI %XUGRZVNLM LQ JHUHL]WHP7RQªGDLFKNHLQ*HOGZLOO,FKQHKPHHVQLFKWDQ ZR]XLFKZLOOQLFKWIRUWYRQKLHU© (U ZROOWH HLOHQGV GLH 9HUDQGD YHUODVVHQ $EHU /HEHGHZV 1HIIH EHNDP LKQ QRFK DP $UP ]X IDVVHQ XQG IOVWHUWH LKP HWZDV ]X %XUGRZVNLM NHKUWH VFKQHOO ]XUFN ]RJ HLQ RIIHQHV .XYHUW JURHQ )RUPDWV DXV GHU 7DVFKH XQG ZDUI HV DXI HLQ 7LVFKFKHQ GDV QHEHQ GHP )UVWHQ VWDQG ª'D LVW GDV *HOG ± :DJHQ6LHHVQLFKWZDJHQ6LHHVQLFKW'DLVWGDV*HOG©
ª(V VLQG GLH ]ZHLKXQGHUWIQI]LJ 5XEHO GLH 6LH LKP GXUFK 7VFKHEDURZ DOV $OPRVHQ ]X VFKLFNHQ ZDJWHQ© IJWH 'RNWRUHQNR HUOlXWHUQG KLQ]X ª,Q GHP $UWLNHO ZDU JHVDJW IQI]LJ©ULHI.ROMDª,FKELWWH6LHXP(QWVFKXOGLJXQJ©VDJWH GHU )UVW LQGHP HU DQ %XUGRZVNLM KHUDQWUDW ª,FK KDEH ,KQHQ VFKZHUHV 8QUHFKW JHWDQ %XUGRZVNLM DEHU LFK KDEH HV ,KQHQ QLFKWDOV$OPRVHQJHVFKLFNW JODXEHQ6LHPLU ,FKKDEH ,KQHQ DXFK MHW]W 8QUHFKW JHWDQ YRUKLQ© 'HU )UVW ZDU VHKU QLHGHUJHVFKODJHQ HU VDK PGH XQG VFKZDFK DXV XQG VHLQH :RUWHZDUHQXQ]XVDPPHQKlQJHQG ª,FKVSUDFKYRQ*DXQHUHL DEHUGDVEH]RJVLFKQLFKWDXI6LHLFKKDEHPLFKJHLUUW ,FK VDJWHGD6LHHEHQVRHLQNUDQNHU0HQVFKVHLHQZLHLFK$EHU 6LH VLQG QLFKW HEHQVR ZLH LFK 6LH JHEHQ MD 6WXQGHQ XQG XQWHUVWW]HQ,KUH0XWWHU,FKVDJWH6LHEUlFKWHQ,KUH0XWWHULQ 8QHKUHDEHU6LHOLHEHQVLHVLHVDJWHVVHOEVWLFKZXWHGDV QLFKW *DZULOD $UGDOLRQRZLWVFK KDWWH PLU YRUKLQ QRFK QLFKW DOOHVPLWJHWHLOWLFKKDEHXQUHFKWJHWDQ ,FK ZDJWH HV ,KQHQ ]HKQWDXVHQG5XEHODQ]XELHWHQDEHUGDVZDU XQUHFKW YRQ PLU LFKKlWWHHVLQDQGHUHU:HLVHPDFKHQPVVHQDEHUMHW]WJHKW HVQLFKWPHKUZHLO6LHPLFKYHUDFKWHQ©ª$EHUGDVLVWMDGDV UHLQH ,UUHQKDXV© ULHI /LVDZHWD 3URNRIMHZQD ª*HZL HV LVW HLQ ,UUHQKDXV© VDJWH $JODMD GLH VLFK QLFKW PHKU EHKHUUVFKHQ NRQQWHLQVFKDUIHP7RQ $EHULKUH:RUWHJLQJHQLQGHPDOOJHPHLQHQ/lUPXQWHUDOOH UHGHWHQMHW]WODXWXQGJDEHQLKU8UWHLODEGHUHLQHGLVSXWLHUWH GHU DQGHUH ODFKWH ,ZDQ )MRGRURZLWVFK -HSDQWVFKLQ ZDU LP K|FKVWHQ *UDGH HPS|UW XQG ZDUWHWH PLW HLQHU 0LHQH JHNUlQNWHU:UGHDXI/LVDZHWD3URNRIMHZQD/HEHGHZV1HIIH JDEQRFKHLQOHW]WHV:RUWKLQ]Xª-D)UVWPDQPX,KQHQGLH *HUHFKWLJNHLWZLGHUIDKUHQODVVHQ6LHYHUVWHKHQHVJXW,KUH QD VDJHQ ZLU .UDQNKHLW XP HV DQVWlQGLJHU DXV]XGUFNHQ DXV]XQW]HQ 6LH KDEHQ ,KUH )UHXQGVFKDIW XQG ,KU *HOG LQ VR JHVFKLFNWHU )RUP DQ]XELHWHQ YHUVWDQGHQ GD HV MHW]W HLQHP DQVWlQGLJHQ0HQVFKHQDEVROXWXQP|JOLFKLVWVLHDQ]XQHKPHQ
'DV LVW HQWZHGHU lXHUVW QDLY RGHU lXHUVW UDIILQLHUW ± 6LH ZHUGHQ HV EULJHQV DP EHVWHQ ZLVVHQ© ª(UODXEHQ 6LH PHLQH +HUUHQ© ULHI *DZULOD $UGDOLRQRZLWVFK GHU PLWWOHUZHLOH GDV .XYHUW PLW GHP *HOG DXIJHPDFKW KDWWH ªKLHU VLQG JDU QLFKW ]ZHLKXQGHUWIQI]LJ.EHOGULQVRQGHUQQXUKXQGHUW ,FK VDJH GDV GHVKDOE )UVW GDPLW GDUDXV QLFKW LUJHQGHLQ 0LYHU VWlQGQLV HQWVWHKW© ª/DVVHQ 6LH ODVVHQ 6LH© ZHKUWH GHU )UVW PLW HLQHU +DQGEHZHJXQJ GHV :LGHUZLOOHQV DE ª1HLQ QLFKW ¾/DVVHQ 6LH½© ILHO /HEHGHZV 1HIIH VRIRUW HLQ ª,KU ¾/DVVHQ 6LH½LVWIUXQVEHOHLGLJHQG )UVW:LU YHUOHXJQHQ XQV QLFKW ZLU VSUHFKHQ HV RIIHQ DXV MD HV VLQG QXU KXQGHUW 5XEHO GULQ XQG QLFKW ]ZHLKXQGHUWIQI]LJ DEHU LVW GDV QLFKW JDQ] JOHLFK © ª1QHLQ JDQ] JOHLFK LVW GDV QLFKW© ZDQGWH *DZULOD $UGDOLRQRZLWVFK VFKQHOO PLW GHU 0LHQH QDLYHU 9HUZXQGHUXQJ HLQ ª8QWHUEUHFKHQ 6LH PLFK QLFKW :LU VLQG QLFKW VROFKH 'XPPN|SIHZLH6LH JODXEHQ +HUU$GYRNDW© ULHI /HEHGHZV 1HIIH ERVKDIW XQG lUJHUOLFK ª6HOEVWYHUVWlQGOLFK VLQG KXQGHUW 5XEHO QLFKW ]ZHLKXQGHUWIQI]LJ 5XEHO XQG GDV LVW QLFKW JDQ] JOHLFK DEHU GDV :LFKWLJH LVW GDEHL GDV 3ULQ]LS GHU OHLWHQGH *HGDQNHLVWKLHUZLFKWLJXQGGDKXQGHUWIQI]LJ5XEHOIHKOHQ LVW QXU HLQ ]XIlOOLJHU %HJOHLWXPVWDQG :LFKWLJ LVW GD %XUGRZVNLM ,KU $OPRVHQ QLFKW DQQLPPW 'XUFKODXFKW GD HU HV ,KQHQ LQV *HVLFKW ZLUIW XQG EHL GLHVHU +DQGOXQJVZHLVH LVW HV JDQ] JOHLFK RE HV KXQGHUW RGHU ]ZHLKXQGHUWIQI]LJ 5XEHO VLQG %XUGRZVNLM KDW GLH ]HKQWDXVHQG 5XEHO QLFKW DQJHQRPPHQ GDV KDEHQ 6LH JHVHKHQ HU ZUGH DXFK GLH KXQGHUW5XEHOQLFKWZLHGHUEULQJHQZHQQHUHLQ0HQVFKRKQH (KUH ZlUH 'LH KXQGHUWIQI]LJ 5XEHO VLQG IU 7VFKHEDURZV 5HLVH]XP)UVWHQYHUDXVJDEWZRUGHQ0DFKHQ6LHVLFKOLHEHU EHUXQVHUH8QJHVFKLFNOLFKNHLWEHUXQVHUHXQSUDNWLVFKH$UW GLH 6DFKH DQ]XJUHLIHQ OXVWLJ 6LH KDEHQ VLFK MD RKQHKLQ DXV DOOHQ .UlIWHQ EHPKW XQV OlFKHUOLFK ]X PDFKHQ DEHU ZDJHQ 6LH QLFKW ]X VDJHQ GD ZLU NHLQ (KUJHIKO EHVlHQ 'LH IHKOHQGHQ KXQGHUWIQI]LJ 5XEHO PHLQ +HUU ZHUGHQ ZLU DOOH
]XVDPPHQ GHP )UVWHQ ]XUFNHUVWDWWHQ ]ZDU YLHOOHLFKW QXU UXEHOZHLVH DEHU PLW =LQVHQ %XUGRZVNLM LVW DUP %XUGRZVNLM EHVLW]W NHLQH 0LOOLRQHQ XQG 7VFKHEDURZ UHLFKWH QDFK GHU 5HLVH VHLQH 5HFKQXQJ HLQ :LU KDWWHQ DXI HLQHQ *HZLQQ JHKRIIW :HU KlWWH DQ VHLQHU 6WHOOH DQGHUV JHKDQGHOW"© ª$QGHUV DOV ZHU"© ULHI )UVW 6FKWVFK ª,FK ZHUGH KLHU QRFK YHUUFNW© ULHI /LVDZHWD 3URNRIMHZQD ª'DV HULQQHUW© EHPHUNWH ODFKHQG -HZJHQLM 3DZORZLWVFK GHU ODQJH GDJHVWDQGHQ XQG QXU EHREDFKWHW KDWWH ªDQ HLQH EHUKPWH 9HUWHLGLJXQJVUHGH GLH HLQ $GYRNDW NU]OLFK KLHOW (U EHWRQWH DOV 0LOGHUXQJVJUXQG GLH $UPXW VHLQHV .OLHQWHQ GHU VHFKV 0HQVFKHQ PLW HLQHPPDO HUPRUGHW KDWWH XP VLH DXV]XUDXEHQ XQG VFKOR SO|W]OLFK IROJHQGHUPDHQ ¾(V LVW JDQ] QDWUOLFK GD PHLQHP .OLHQWHQ EHL VHLQHU $UPXW GHU *HGDQNH NDP GLHVHVHFKV0HQVFKHQ]XHUPRUGHQZHPZlUHDQVHLQHU6WHOOH QLFKW GHUVHOEH *HGDQNH JHNRPPHQ"½ (WZD LQ GLHVHU $UW MHGHQIDOOV VHKU DPVDQW© ª*HQXJ© ULHI SO|W]OLFK YRU =RUQ ]LWWHUQG /LVDZHWD 3URNRIMHZQD ª(V LVW =HLW GLHVHP *DOLPDWKLDVHLQ(QGH]XPDFKHQ© 6LH EHIDQG VLFK LQ IXUFKWEDUHU $XIUHJXQJ ZDUI GHQ .RSI GURKHQG ]XUFN XQG OLH XQJHGXOGLJ KRFKPWLJ XQG KHUDXVIRUGHUQG LKUHQ IXQNHOQGHQ %OLFN EHU GLH JDQ]H *HVHOOVFKDIW KLQVFKZHLIHQ ZREHL VLH LQ GLHVHP $XJHQEOLFN NDXP)UHXQGXQG)HLQGXQWHUVFKLHG6LHZDUDXIMHQHP3XQNW ODQJH ]XUFNJHKDOWHQHQ DEHU QXQ HQGOLFK ORVEUHFKHQGHQ =RUQHVDQJHODQJWZRPDQVLFK]XVRIRUWLJHP.DPSIJHGUlQJW IKOW XQG GDV %HGUIQLV YHUVSUW XQYHU]JOLFK EHU MHPDQG KHU]XIDOOHQ :HU /LVDZHWD 3URNRIMHZQD NDQQWH PXWH VRJOHLFKPHUNHQGDPLWLKUHWZDV%HVRQGHUHVYRUJLQJ ,ZDQ )MRGRURZLWVFK VDJWH DP QlFKVWHQ 7DJ ]XP )UVWHQ 6FKWVFK ª'DVNRPPWMDEHLLKUPDQFKPDOYRUDEHULQGHP*UDGHZLH JHVWHUQ GRFK QXU VHKU VHOWHQ VR DOOH GUHL -DKUH HLQPDO DEHU QLFKW |IWHU QLFKW |IWHU© IJWH HU HUOlXWHUQG KLQ]X ª*HQXJ ,ZDQ )MRGRURZLWVFK /DVVHQ 6LH PLFK© ULHI /LVDZHWD
3URNRIMHZQDª:DUXPELHWHQ6LHPLUMHW]W,KUHQ$UP"9RUKLQ YHUVWDQGHQ 6LH QLFKW GHQ ULFKWLJHQ =HLWSXQNW ZDKU]XQHKPHQ XP PLFK ZHJ]XIKUHQ 6LH VLQG GHU 0DQQ 6LH VLQG GDV 2EHUKDXSW GHU )DPLOLH 6LH PXWHQ PLFK 1lUULQ DP 2KU ZHJIKUHQ ZHQQ LFK QLFKW DXI 6LH K|UWH XQG ZHJJLQJ 8QG ZHQLJVWHQV VROOWHQ 6LH IU ,KUH 7|FKWHU VRUJHQ $EHU MHW]W ZHUGHQ ZLU DXFK RKQH 6LH GHQ :HJ ILQGHQ $QOD XQV ]X VFKlPHQKDEHQZLUMHW]WIUHLQJDQ]HV-DKUJHQXJ:DUWHQ 6LH QRFK HLQHQ $XJHQEOLFN LFK P|FKWH PLFK HUVW QRFK EHLP )UVWHQ EHGDQNHQ ± ,FK GDQNH GLU )UVW IU GLH JDVWOLFKH $XIQDKPH 8QG LFK KDWWH PLFK KLHU EHKDJOLFK KHUJHVHW]W XP GLH -XJHQG UHGHQ ]X K|UHQ 'DV LVW HLQH *HPHLQKHLW HLQH *HPHLQKHLW'DVLVWMDHLQ8QIXJHLQ:LUUZDUUVRHWZDVVLHKW PDQ MD QLFKW HLQPDO LP 7UDXP *LEW HV GHQQ ZLUNOLFK YLHOH VROFKH 0HQVFKHQ" 6FKZHLJ VWLOO $JODMD 6FKZHLJ VWLOO $OH[DQGUD'DVLVWQLFKWHXUH6DFKH'UHKHQ6LHVLFKQLFKW LPPHUQHEHQPLUKLQXQGKHU-HZJHQLM3DZORZLWVFK6LHVLQG PLU JDQ] ]XZLGHU JHZRUGHQ $OVR GX PHLQ /LHEHU ELWWHVW GLHVH0HQVFKHQQRFKXP9HU]HLKXQJ©IXKUVLHVLFKZLHGHUDQ GHQ )UVWHQ ZHQGHQG IRUW ª ¾9HU]HLKHQ 6LH½ VDJVW GX ¾GD LFK ,KQHQ HLQ .DSLWDO DQ]XELHWHQ JHZDJW KDEH½ 8QG GX 6FKZDGURQHXUZDVKDVWGXGHQQ]XODFKHQ"©IXKUVLHSO|W]OLFK DXI /HEHGHZV 1HIIHQ ORV ª'X VDJVW ¾:LU YHU]LFKWHQ DXI GDV .DSLWDOZLUELWWHQQLFKWVRQGHUQZLUIRUGHUQ½$OVREHUQLFKW ZWH GD GLHVHU ,GLRW JOHLFK PRUJHQ ZLHGHU ]X LKQHQ KLQODXIHQ ZLUG XP LKQHQ VHLQH )UHXQGVFKDIW XQG VHLQ *HOG DQ]XELHWHQ 'X ZLUVW MD GRFK ZRKO KLQJHKHQ" :LUVW GX KLQJHKHQ"-DRGHUQHLQ"©ª-DLFKZHUGHKLQJHKHQ©DQWZRUWHWH GHU )UVW OHLVH XQG GHPWLJ ª1D GD K|UW LKU¶V 'DUDXI UHFKQHVW GX MD DXFK EOR© ZDQGWH VLH VLFK ZLHGHU ]X 'RNWRUHQNR ªMHW]W KDVW GX GDV *HOG VFKRQ VR JXW ZLH LQ GHU 7DVFKHXQGGDVFKZDGURQLHUVWGXXPXQV6DQGLQGLH$XJHQ ]XVWUHXHQ1HLQ9HUHKUWHVWHUGDPXWGXGLUDQGHUHVXFKHQ GLH GPPHU VLQG DOV LFK LFK GXUFKVFKDXH HXFK GXUFK XQG
GXUFK LFK YHUVWHKH HXHU JDQ]HV 6SLHO© ª/LVDZHWD 3URNRIMHZQD© ULHI GHU )UVW ª.RPPHQ 6LH ZHJ YRQ KLHU /LVDZHWD 3URNRIMHZQD HV LVW KRKH =HLW DXFK GHQ )UVWHQ ZROOHQ ZLU PLWQHKPHQ© VDJWH )UVW 6FKWVFK OlFKHOQG LQ P|JOLFKVWUXKLJHP7RQ 'LH 0lGFKHQ VWDQGHQ lQJVWOLFK DEVHLWV GHU *HQHUDO ZDU JDQ] HUVFKURFNHQ EHUKDXSW ZDUHQ DOOH HUVWDXQW (LQLJH GLH HWZDVZHLWHUHQWIHUQWVWDQGHQOlFKHOWHQKHLPOLFKXQGIOVWHUWHQ XQWHUHLQDQGHU /HEHGHZV *HVLFKW GUFNWH GHQ K|FKVWHQ *UDG GHV (QW]FNHQV DXV ª+lOLFKHQ :LUUZDUU ILQGHW PDQ LQ GHU JDQ]HQ :HOW JQlGLJH )UDX© VDJWH /HEHGHZV 1HIIH GHU JOHLFKIDOOV QLFKW ZHQLJ EHWURIIHQ ZDU ª$EHU QLFKW HLQHQ VR DUJHQ1LFKWHLQHQVRDUJHQOLHEHU)UHXQGZLHMHW]WEHLHXFK QLFKW HLQHQ VR DUJHQ© ULHI /LVDZHWD 3URNRIMHZQD JOHLFKVDP VFKDGHQIURK XQG ZLH LQ HLQHP K\VWHULVFKHQ $QIDOO ª6R ODW PLFK GRFK LQ 5XKH© VFKULH VLH GHQHQ GLH DXI VLH HLQUHGHWHQ ]X ª1HLQ ZHQQ 6LH VFKRQ HU]lKOHQ -HZJHQLM 3DZORZLWVFK GDVRJDUHLQ9HUWHLGLJHUYRU*HULFKWHUNOlUWKDWHVVHLQLFKWV QDWUOLFKHU DOV DXV $UPXW VHFKV 0HQVFKHQ DE]XVFKODFKWHQ GDQQLVWGHU-QJVWH7DJQDKHKHUDQJHNRPPHQVRHWZDVKDEH LFK MD QRFK QLH JHK|UW -HW]W LVW PLU DOOHV NODUJHZRUGHQ ,VW GHQQ GLHVHU 6WRWWHUHU HWZD QLFKW LPVWDQGH HLQHP GLH .HKOH DE]XVFKQHLGHQ"© 6LH ZLHV DXI %XUGRZVNLM GHU VLH K|FKVW HUVWDXQW DQVDK ª,FK P|FKWH GDUDXI ZHWWHQ GD HU HV IHUWLJEULQJW (U ZLUG GHLQ *HOG GLH ]HKQWDXVHQG 5XEHO YLHOOHLFKW QLFKW DQQHKPHQ ZLUG VLH YLHOOHLFKW DXV *HZLVVHQVEHGHQNHQ QLFKW DQQHKPHQ DEHU HU ZLUG EHL 1DFKW NRPPHQ XQG GLU GLH .HKOH GXUFKVFKQHLGHQ XQG GDV *HOG DXV GHU 6FKDWXOOH QHKPHQ RKQH GD VHLQ *HZLVVHQ GDJHJHQ (LQZHQGXQJHQ HUKHEW 'DV LVW QDFK VHLQHU $QVLFKW QLFKW HKUORV 'DV LVW ¾HLQ $XVEUXFK HGOHU 9HU]ZHLIOXQJ½ GDV LVW ¾1HJDWLRQ½RGHUZHLGHU7HXIHOZDVVRQVWQRFK3IXL$OOHV LVWDXIGHQ.RSIJHVWHOOWDOOHJHKHQPLWGHQ)HQQDFKREHQ 'D LVW HLQ MXQJHV 0lGFKHQ LP (OWHUQKDXV DXIJHZDFKVHQ DXI
HLQPDO VSULQJW VLH PLWWHQ DXI GHU 6WUDH LQ HLQH 'URVFKNH ¾0DPDFKHQ LFK KDEH PLFK QHXOLFK PLW LUJHQGHLQHP .DUORZLWVFK RGHU ,ZDQRZLWVFK YHUKHLUDWHW OHEHQ 6LH ZRKO½ 8QGHLQHVROFKH+DQGOXQJVZHLVHLVWQDFKHXUHU0HLQXQJJDQ] LQ GHU 2UGQXQJ DFKWHQVZHUW XQG QDWUOLFK" 'DV LVW GLH )UDXHQIUDJH" 'D GLHVHU GXPPH -XQJH KLHU© VLH ]HLJWH DXI .ROMD ªDXFK GHU KDW QHXOLFK GDUEHU GLVSXWLHUW XQG VDJW GDV VHLHEHQGLH )UDXHQIUDJH$EHUDXFKZHQQ HLQH 0XWWHU GXPP LVW VROOWHQ GLH 7|FKWHU VLH DQVWlQGLJ EHKDQGHOQ :DUXP WUXJW LKU GHQQ YRUKLQ DOV LKU KHUHLQNDPW GLH .|SIH VR VWRO] HUKREHQ"¾:DJWHVQLFKWXQV]XQDKH]XWUHWHQZLUNRPPHQ *LE XQV DOOH HUGHQNOLFKHQ 5HFKWH DEHU ZDJH GX QLFKW XQV JHJHQEHU]XPXFNVHQ(UZHLVHXQVLQXQHUK|UWHP0DH DOOH $FKWXQJ DEHU ZLU ZHUGHQ GLFK VFKOHFKWHU EHKDQGHOQ DOV GHQ QLHGULJVWHQ/DNDLHQ½6LHVXFKHQGLH:DKUKHLWVLHEHJHKHQDXI LKUHP5HFKWDEHUVLHVHOEVWKDEHQLKQZLHGLH+HLGHQLQLKUHP $UWLNHO YHUOHXPGHW ¾:LU IRUGHUQ ZLU ELWWHQ QLFKW XQG LKU ZHUGHW YRQ XQV NHLQ :RUW GHV 'DQNHV ]X K|UHQ EHNRPPHQ ZHLOLKUHVGRFKQXU]XU%HUXKLJXQJHXUHVHLJHQHQ*HZLVVHQV WXW½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lGFKHQ lFKWHW DEHU ZHQQ LKU GLH PHQVFKOLFKH *HVHOOVFKDIW DOV LQKXPDQ EH]HLFKQHW VR HUNOlUW LKU GDPLW GRFK GD GLHVHP 0lGFKHQ YRQ GLHVHU *HVHOOVFKDIW HLQ 6FKPHU] ]XJHIJW ZLUG
:HQQGDVDEHUIUVLHHLQ6FKPHU]LVWZLHN|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lFKHOWLKU":HLOLFKPLFKPLWHXFKVRJHPHLQ JHPDFKWKDEH"'DVLVWQXQHLQPDOJHVFKHKHQGDUDQLVWQLFKWV PHKU ]X DQGHUQ /lFKOH GX PLFK QLFKW VR DQ GX IUHFKHU %XEH© 6LH VWU]WH SO|W]OLFK DXI ,SSROLW ORV ª(U NDQQ NDXP QRFK DWPHQ XQG YHUGLUEW DQGHUH 'X KDVW PLU GLHVHQ -XQJHQ KLHU YHUGRUEHQ© VLH ]HLJWH ZLHGHU DXI .ROMD ªHU VFKZlUPW LPPHU YRQ GLU GX XQWHUZHLVW LKQ LP $WKHLVPXV GX JODXEVW QLFKWDQ*RWWXQGGDEHLVWHKVWGXLQHLQHP$OWHUGDGXQRFK +LHEHEHNRPPHQN|QQWHVWPHLQ9HUHKUWHU3IXLEHUHXFK $OVR)UVW /HZ1LNRODMHZLWVFK ZLUVW GX ZLUNOLFK PRUJHQ ]X LKQHQ KLQJHKHQ MD"© IUDJWH VLH ZLHGHU IDVW DWHPORV GHQ )UVWHQª-DLFKZHUGHKLQJHKHQ©ª'DQQNHQQHLFKGLFKQLFKW PHKU© 6LH GUHKWH VLFK VFKQHOO XP XP ZHJ]XJHKHQ NHKUWH DEHU SO|W]OLFK ZLHGHU ]XUFN ª:LUVW GX DXFK ]X GLHVHP $WKHLVWHQJHKHQ"©6LH]HLJWHDXI,SSROLWª$EHUZDUXPOlFKHOVW GX GHQQ EHU PLFK"© VFKULH VLH PLW IUHPGDUWLJ NOLQJHQGHU 6WLPPHXQGVWU]WHDXI,SSROLWORVGHVVHQVS|WWLVFKHV/lFKHOQ VLHQLFKWHUWUDJHQNRQQWH ª/LVDZHWD 3URNRIMHZQD /LVDZHWD 3URNRIMHZQD /LVDZHWD 3URNRIMHZQD© ZXUGH YRQ DOOHQ 6HLWHQ ]XJOHLFK JHUXIHQ ª0DPDQ GDV LVW HLQH 6FKDQGH© ULHI $JODMD ODXW ª%HXQUXKLJHQ 6LH VLFK QLFKW $JODMD ,ZDQRZQD© DQWZRUWHWH ,SSROLWUXKLJ/LVDZHWD3URNRIMHZQDKDWWHLKQDP$UPJHSDFNW XQGKLHOWGLHVHQDXVQLFKWUHFKWYHUVWlQGOLFKHP*UXQGHIHVWVLH
VWDQG YRU LKP XQG GXUFKERKUWH LKQ I|UPOLFK PLW LKUHP ZWHQGHQ%OLFNª%HXQUXKLJHQ6LHVLFKQLFKW,KUH0DPDZLUG VFKRQVHOEVW]XGHU(LQVLFKWNRPPHQGDPDQVLFKDQHLQHP 6WHUEHQGHQ QLFKW YHUJUHLIHQ GDUI ,FK ELQ EHUHLW HLQH (UNOlUXQJGDUEHUDE]XJHEHQZDUXPLFKJHODFKWKDEHXQG ZHUGHPLFKVHKUIUHXHQZHQQPDQHVPLUYHUVWDWWHW© +LHU EHUILHO LKQ SO|W]OLFK HLQ KHIWLJHU +XVWHQ GHQ HU HLQH JDQ]H 0LQXWH ODQJ QLFKW VWLOOHQ NRQQWH ª(U LVW VFKRQ LP 9HUVFKHLGHQ XQG KlOW LPPHU QRFK 5HGHQ© ULHI /LVDZHWD 3URNRIMHZQD6LHOLHVHLQHQ$UPORVXQGVDKHUVFKURFNHQZLH HUVLFKGDV%OXWYRQGHQ/LSSHQZLVFKWHª:R]XZLOOVWGXQRFK UHGHQ"'XPXWHLQIDFKKLQJHKHQXQGGLFKLQV %HWWOHJHQ© ª'DV ZLUG DXFK JHVFKHKHQ© HUZLGHUWH ,SSROLW OHLVH IDVW IOVWHUQGPLWKHLVHUHU6WLPPH ª6REDOGLFKKHXWHQDFK+DXVH NRPPH ZHUGH LFK PLFK JOHLFK KLQOHJHQ ELQQHQ YLHU]HKQ 7DJHQZHUGHLFKVWHUEHQGDVZHLLFK,QGHUYRULJHQ:RFKH KDW HV PLU %±Q VHOEVW JHVDJW $OVR ZHQQ 6LH JHVWDWWHQ P|FKWHLFK ,KQHQQRFKHLQSDDU:RUWH]XP$EVFKLHGVDJHQ© ª$EHU KDVW GX GHQQ GHQ 9HUVWDQG YHUORUHQ" :DV" 'DV LVW MD 8QVLQQ,QlU]WOLFKH%HKDQGOXQJPXWGXZDVKDWHVIU6LQQ MHW]W*HVSUlFKH]XIKUHQ*HKJHKXQGOHJGLFKLQV%HWW© ULHI /LVDZHWD 3URNRIMHZQD HUVFKURFNHQ ª:HQQ LFK PLFK KLQOHJH VR ZHUGH LFK MD ELV ]X PHLQHP 7RGH QLFKW ZLHGHU DXIVWHKHQ©YHUVHW]WH,SSROLWOlFKHOQG ª,FKZROOWHPLFKVFKRQ JHVWHUQKLQOHJHQXPYRUGHP7RGHQLFKWZLHGHUDXI]XVWHKHQ YHUVFKREHVDEHUXP]ZHL7DJHVRODQJHPLFKGLH%HLQHQRFK WUDJHQ XP KHXWH PLW GHQHQ KLHUKHU]XJHKHQ $EHU LFK ELQ VHKU PGH © ª6R VHW] GLFK GRFK VHW] GLFK GRFK :DUXP VWHKVWGX"'DKDVWGXHLQHQ6WXKO©ULHI/LVDZHWD3URNRIMHZQD HLIULJXQGVFKRELKPVHOEVWHLQHQ6WXKOKLQ ª,FK GDQNH ,KQHQ© IXKU ,SSROLW OHLVH IRUW ª6HW]HQ 6LH VLFK PLU JHJHQEHU GDQQ ZROOHQ ZLU PLWHLQDQGHU VSUHFKHQ :LU PVVHQ XQEHGLQJW PLWHLQDQGHU VSUHFKHQ /LVDZHWD 3URNRIMHZQD MHW]W EHVWHKH LFK GDUDXI © (U OlFKHOWH ZLHGHU
ª%HGHQNHQ6LHGDLFKKHXWH]XPOHW]WHQPDOLQGHUIUHLHQ/XIW XQG XQWHU 0HQVFKHQ ELQ XQG LQ ]ZHL :RFKHQ DOOHU :DKUVFKHLQOLFKNHLW QDFK LQ GHU (UGH OLHJHQ ZHUGH $OVR ZLUG GDV HLQH $UW $EVFKLHG YRQ GHQ 0HQVFKHQ XQG YRQ GHU 1DWXU VHLQ,FKELQ]ZDUQLFKWVHKUVHQWLPHQWDODEHUGHQNHQ6LHVLFK LFK IUHXH PLFK GRFK VHKU GD VLFK GLHV DOOHV JHUDGH KLHU LQ 3DZORZVN ]XJHWUDJHQ KDW PDQ VLHKW KLHU GRFK ZHQLJVWHQV HLQHQ JUQHQ %DXP© ª$EHU ZR]X ZLOOVW GX GHQQ MHW]W HLQ *HVSUlFK IKUHQ"© ZDQGWH /LVDZHWD 3URNRIMHZQD HLQ GLH LPPHU lQJVWOLFKHU ZXUGH ª'X ILHEHUVW MD YROOVWlQGLJ 9RUKLQ NUHLVFKWHVWXQGTXLHNWHVWGXXQGMHW]WEHNRPPVWGXNDXP/XIW XQG ELVW DP (UVWLFNHQ© ª,FK ZHUGH PLFK JOHLFK ZLHGHU HUKROHQ :DUXP ZROOHQ 6LH PLU PHLQHQ OHW]WHQ :XQVFK DEVFKODJHQ" :LVVHQ 6LH LFK KDEH VFKRQ ODQJH LP VWLOOHQ GDYRQ SKDQWDVLHUW PLW ,KQHQ HLQPDO ]XVDPPHQ]XNRPPHQ /LVDZHWD3URNRIMHZQDLFKKDEHYLHOYRQ,KQHQJHK|UWGXUFK .ROMDGHULVWMDIDVWGHUHLQ]LJHGHUPLFKQLFKWYHUODVVHQKDW 6LHVLQGHLQHHLJHQDUWLJH)UDXHLQHH[]HQWULVFKH)UDXGDVKDEH LFKMHW]WVHOEVWJHVHKHQ:LVVHQ6LHZRKOGDLFK6LHVRJDU HLQ ELFKHQ JHOLHEW KDEH"© ª2 *RWW XQG LFK KlWWH LKQ ZDKUKDIWLJ EHLQDK JHVFKODJHQ© ª$JODMD ,ZDQRZQD KDW 6LH GDYRQ]XUFNJHKDOWHQ ,FKLUUHPLFKGRFKQLFKW"'DV LVW GRFK ,KUH 7RFKWHU $JODMD ,ZDQRZQD" 6LH LVW VR VFK|Q GD LFK YRUKLQ JOHLFK EHLP HUVWHQ %OLFN YHUPXWHWH VLH VHL HV REZRKO LFKVLHQLHPDOVJHVHKHQKDEH/DVVHQ6LHPLFKZHQLJVWHQV]XP OHW]WHQPDOLQPHLQHP/HEHQHLQHZLUNOLFKH6FK|QKHLWVHKHQ© IJWH,SSROLWPLWHLQHPXQJHVFKLFNWHQVFKLHIHQ/lFKHOQKLQ]X ª(V LVW MD DXFK GHU )UVW KLHU XQG ,KU *HPDKO XQG GLH JDQ]H *HVHOOVFKDIW :DUXP ZROOHQ 6LH PLU PHLQHQ OHW]WHQ :XQVFK DEVFKODJHQ"© ª(LQHQ 6WXKO© ULHI /LVDZHWD 3URNRIMHZQD DEHU VLHHUJULIIVHOEVWHLQHQXQGVHW]WHVLFK,SSROLWJHJHQEHUKLQ ª.ROMD©EHIDKOVLHªEULFKJOHLFKPLWLKPDXIXQGEULQJLKQ QDFK+DXVHXQGPRUJHQZHUGHLFKEHVWLPPWVHOEVW©ª:HQQ 6LHHUODXEHQZUGHLFKGHQ)UVWHQXPHLQH7DVVH7HHELWWHQ
,FKELQVHKUPGH:LVVHQ6LHZDV/LVDZHWD3URNRIMHZQD 6LH ZROOWHQ MD ZRKO GHQ )UVWHQ ]XP 7HHWULQNHQ PLW ]X VLFK QDFK+DXVHQHKPHQEOHLEHQ6LHGRFKKLHUODVVHQ6LHXQVHLQH :HLOH=XVDPPHQVHLQGHU)UVWZLUGJHZLXQVDOOHQGLHZLU KLHU VLQG 7HH JHEHQ ODVVHQ 9HU]HLKHQ 6LH GD LFK VROFKH $QRUGQXQJHQ WUHIIH $EHU LFK NHQQH 6LH MD 6LH VLQG HLQH JXWH)UDXXQGDXFKGHU)UVWLVWHLQJXWHU0HQVFKZLUVLQG VlPWOLFKOlFKHUOLFKJXWH/HXWH© 'HU )UVW JHULHW LQ JHVFKlIWLJH %HZHJXQJ /HEHGHZ VWU]WH +DOVEHU.RSIGDYRQ:HUDOLHIKLQWHU LKP KHU ª6HL HV VR© VWLPPWH GLH *HQHUDOLQ LKP NXU] EHL ª5HGH DEHU OHLVH XQG UHJH GLFK QLFKW DXI 'X WXVW PLU OHLG )UVW GX YHUGLHQVW QLFKW GD LFK EHL GLU 7HH WULQNH DEHU LFK ZLOO PHLQHWZHJHQ KLHUEOHLEHQ REZRKO LFK QLHPDQG XP 9HU]HLKXQJ ELWWH QLH PDQG8QVLQQhEULJHQVZHQQLFKYRUKLQDXIGLFKJHVFKLPSIW KDEHVRYHU]HLKPLUGDV±GDVKHLWZHQQGXZLOOVWhEULJHQV ZLOO LFK QLHPDQG KLHU ]XUFNKDOWHQ© ZDQGWH VLH VLFK PLW K|FKVW]RUQLJHU0LHQHDQLKUHQ0DQQXQGDQLKUH7|FKWHUDOV RE DXFK GLHVH LKU LUJHQGHLQ VFKZHUHV 8QUHFKW DQJHWDQ KlWWHQ ª,FKNDQQDXFKDOOHLQQDFK+DXVH]XUFNJHKHQ© $EHUPDQOLHVLHQLFKW]X(QGHVSUHFKHQ$OOHWUDWHQKHUDQ XQG XPULQJWHQ VLH GLHQVWIHUWLJ 'HU )UVW EDW VRIRUW DOOH ]XP 7HH GD]XEOHLEHQ XQG HQWVFKXOGLJWH VLFK GD HU ELVKHU QLFKW GDUDQ JHGDFKWKDEH6HOEVWGHU*HQHUDOZDUVR OLHEHQVZUGLJ HLQ SDDU :RUWH ]XU %HUXKLJXQJ ]X PXUPHOQ XQG /LVDZHWD 3URNRIMHZQD IUHXQGOLFK ]X IUDJHQ RE HV LKU DXI GHU 9HUDQGD DXFK QLFKW ]X NKO VHL (U VHW]WH VRJDU VFKRQ GD]X DQ ,SSROLW ]XIUDJHQREHUVFKRQODQJHDXIGHU8QLYHUVLWlWVHLWDWHVDEHU GRFK QLFKW -HZJHQLM -DZORZLWVFK XQG )UVW 6FKWVFK ZXUGHQ DXI HLQPDO VHKU OLHEHQVZUGLJ XQG KHLWHU XQG DXI $GHODLGDV XQG $OH[DQGUDV *HVLFKWHUQ ZXUGH GXUFK GDV IRUWGDXHUQGH (UVWDXQHQ KLQGXUFK VRJDU HLQ $XVGUXFN YRQ =XIULHGHQKHLW VLFKWEDUNXU]DOOHZDUHQDXJHQVFKHLQOLFKIURKGDGLH.ULVLV EHL/LVDZHWD3URNRIMHZQDYRUEHUZDU1XU$JODMDPDFKWHHLQ
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
; ,SSROLWEHQHW]WHVHLQH/LSSHQLQGHU7DVVH7HHGLHLKP:HUD /HEHGHZD JHUHLFKW KDWWH VWHOOWH GLH 7DVVH DXI HLQ 7LVFKFKHQ XQG EOLFNWH YHUOHJHQ XQG EHIDQJHQ ULQJV XP VLFK ª6HKHQ 6LH HLQPDO GLHVH 7DVVHQ /LVDZHWD 3URNRIMHZQD© VDJWH HU PLW VHOWVDPHU +DVW ªGLHVH 3RU]HOODQWDVVHQ GLH ZRKO YRQ YRU]JOLFKHP 3RU]HOODQ VLQG KDW /HEHGHZ LPPHU LQ HLQHU YHUVFKORVVHQHQ &KLIIRQLHUH KLQWHU *ODV VWHKHQ VLH ZHUGHQ QLH KHUDXVJHJHEHQ ZLH GDV VR 6LWWH LVW VLH KDEHQ ]XU 0LWJLIW VHLQHU)UDXJHK|UWGDVLVWEHLGLHVHQ /HXWHQVR6LWWHXQG QXQKDWHUVLHGRFKIUXQVKHUDXVJHJHEHQQDWUOLFK,KQHQ]X (KUHQVRKDWHUVLFKJHIUHXW© (U ZROOWH QRFK HWZDV KLQ]XIJHQ NRQQWH DEHU QLFKW JOHLFK GLH ULFKWLJHQ :RUWH ILQGHQ ª(U LVW JDQ] YHUOHJHQ JHZRUGHQ GDV KDWWH LFK GRFK HUZDUWHW© IOVWHUWH -HZJHQLM 3DZORZLWVFK
GHP )UVWHQ LQV 2KU ª'DV LVW GRFK ZRKO JHIlKUOLFK QLFKW ZDKU" (LQ JDQ] VLFKHUHV $Q]HLFKHQ GDIU GD HU MHW]W DXV 7URW] LUJHQGHLQH VR DUJH $EVRQGHUOLFKNHLW EHJHKHQ ZLUG GD VHOEVW /LVDZHWD 3URNRIMHZQD YLHOOHLFKW QLFKW ZLUG KLHUEOHLEHQ P|JHQ© 'HU )UVW EOLFNWH LKQ IUDJHQG DQ ª6LH IUFKWHQ VLFK YRU VROFKHQ $EVRQGHUOLFKNHLWHQ QLFKW"© IJWH -HZJHQLM 3DZORZLWVFK KLQ]X ª,FK WXH HV DXFK QLFKW LFK ZQVFKH GHUJOHLFKHQ VRJDU KHUEHL HV OLHJW PLU EHVRQGHUV GDUDQ GD XQVHUH OLHEH /LVDZHWD 3URNRIMHZQD EHVWUDIW ZLUG XQG ]ZDU JOHLFK KHXWH JOHLFK MHW]W YRUKHU P|FKWH LFK JDU QLFKW IRUWJHKHQ $EHU 6LH ILHEHUQ MD ZLH HV VFKHLQW"© ª/DVVHQ ZLU GDVMHW]W6W|UHQ6LHQLFKW-DPLULVWQLFKWZRKO©DQWZRUWHWH GHU)UVW]HUVWUHXWXQGXQJHGXOGLJ (UK|UWHVHLQHQ1DPHQ,SSROLWVSUDFKYRQLKPª6LHJODXEHQ HVQLFKW"©ODFKWH,SSROLWNUDPSIKDIWª'DVZDUYRUDXV]XVHKHQ DEHUGHU)UVWZLUGHVJOHLFKEHLPHUVWHQ:RUWJODXEHQXQGJDU QLFKW HUVWDXQW GDUEHU VHLQ© ª+|UVW GX )UVW"© ZDQGWH VLFK /LVDZHWD3URNRIMHZQDDQLKQª+|UVWGX"© 5LQJVXP ZXUGH JHODFKW /HEHGHZ GUlQJWH VLFK HLIULJ QDFK YRUQ XQG ZHQGHWH XQG GUHKWH VLFK YRU /LVDZHWD 3URNRIMHZQD KLQXQGKHUª(UKDWJHVDJWGDGLHVHU*ULPDVVHQVFKQHLGHUGD GHLQ+DXVZLUWMHQHP+HUUQGHQ6FKPlKDUWLNHOYHUEHVVHUWKDW GHUYRUKLQYRUJHOHVHQZXUGH© 'HU )UVW VDK /HEHGHZ HUVWDXQW DQ ª:DUXP VFKZHLJVW GX GHQQ"©IUDJWH/LVDZHWD3URNRIMHZQDGHQ)UVWHQXQGVWDPSIWH GDEHL VRJDU PLW GHP )X ª1XQ MD© PXUPHOWH GHU )UVW GHU VHLQHQ %OLFN LPPHU QRFK DXI /HEHGHZ JHULFKWHW KLHOW ªLFK VHKH VFKRQ GD HU HV JHWDQ KDW© ª,VW GDV GLH :DKUKHLW"© ZDQGWH VLFK /LVDZHWD 3URNRIMHZQD VFKQHOO DQ /HEHGHZ ª'LH UHLQH :DKUKHLW ([]HOOHQ]© DQWZRUWHWH /HEHGHZ P IHVWHP 7RQRKQH]X]DXGHUQXQGOHJWHGDEHLGLH+DQGDXIV+HU]ª(U UKPW VLFK GHVVHQ QRFK© ULHI VLH XQG ZDU QDK GDUDQ YRP 6WXKO DXI]XVSULQJHQ ª,FK ELQ HLQ JHPHLQHU 0HQVFK HLQ
JHPHLQHU0HQVFK©PXUPHOWH/HEHGHZVFKOXJVLFKJHJHQGLH %UXVWXQGOLHGHQ.RSILPPHUWLHIHUXQGWLHIHUKlQJHQª:DV IDQJH LFK GDPLW DQ GD GX HLQ JHPHLQHU 0HQVFK ELVW (U GHQNWZHQQHUVDJW¾,FKELQHLQJHPHLQHU0HQVFK½GDQQKDW HU VLFK KHUDXVJHKROIHQ 6FKlPVW GX GLFK QLFKW )UVW PLW VROFKHQ -DPPHUPHQVFKHQ ]X YHUNHKUHQ" IUDJH LFK GLFK QRFK HLQPDO,FKZHUGHGLUGDVQLHYHU]HLKHQ© ª0LUZLUGGHU)UVW YHU]HLKHQ©VDJWH/HEHGHZIHVWEHU]HXJWXQGVHKUJHUKUW ª/HGLJOLFK DXV (GHOPXW© EHJDQQ DXI HLQPDO PLW ODXWHU YROOW|QHQGHU6WLPPH.HOOHUGHUVFKQHOOKHU]XJHWUHWHQZDUXQG VLFK QXQ XQPLWWHOEDU DQ /LVDZHWD 3URNRIMHZQD ZDQGWH ªOHGLJOLFK DXV (GHOPXW JQlGLJH )UDX XP QLFKW HLQHQ )UHXQG GXUFK 9HUUDW ]X NRPSURPLWWLHUHQ KDEH LFK YRUKLQ YRQ GHQ 9HUEHVVHUXQJHQ GLH HU YRUJHQRPPHQ KDWWH JHVFKZLHJHQ REJOHLFK HU YRUVFKOXJ XQV DXV GHU 7U ]X ZHUIHQ ZLH 6LH VHOEVW JHK|UW KDEHQ =XU (KUH GHU :DKUKHLW JHVWHKH LFK QXQ GDLFKPLFKWDWVlFKOLFKDQLKQJHZHQGHWXQGLKPVHFKV5XEHO EH]DKOW KDEH DEHU GXUFKDXV QLFKW GDIU GD HU PHLQHQ 6WLO YHUEHVVHUW KlWWH VRQGHUQ GDIU GD HU DOV HLQH NRPSHWHQWH 3HUV|QOLFKNHLW PLU 7DWVDFKHQ PLWWHLOWH GLH PLU JU|WHQWHLOV XQEHNDQQW ZDUHQ 'DV YRQ GHQ *DPDVFKHQ YRQ GHP $SSHWLW EHLGHP6FKZHL]HU3URIHVVRUXQGYRQGHQIQI]LJ5XEHOQVWDWW GHU ]ZHLKXQGHUWIQI]LJ NXU] GLHVH JDQ]H 3DUWLH VWDPPW YRQ LKP XQG LVW PLW VHFKV 5XEHOQ KRQRULHUW ZRUGHQ DEHU GHQ 6WLO KDW HU QLFKW NRUULJLHUW© ª,FK PX EHPHUNHQ© XQWHUEUDFK LKQ /HEHGHZ PLW ILHEHUKDIWHU 8QJHGXOG XQG LQ NULHFKHULVFKHP 7RQZlKUHQGGDV/DFKHQLPPHUDOOJHPHLQHUZXUGHªGDLFK QXUGLHHUVWH+lOIWHGHU$UWLNHOVYHUEHVVHUWKDEHDEHUGDZLULQ GHU 0LWWH XQHLQV ZXUGHQ XQG ZHJHQ HLQHV 6DW]HV LQ 6WUHLW JHULHWHQ VR KDEH LFK GLH ]ZHLWH +lOIWH QLFKW PHKU YHUEHVVHUW XQG HV GDUI GDKHU DOOHV ZDV GDULQ JHJHQ GLH JXWH 6FKUHLEDUW YHUVW|W XQG GHVVHQ LVW YLHOHV PLU QLFKW ]XU /DVW JHOHJW ZHUGHQ © ª$OVR GDV LVW HV ZRUDXI HV LKP DQNRPPW© ULHI /LVDZHWD3URNRIMHZQDª*HVWDWWHQ6LHGLH)UDJH©ZDQGWHVLFK
-HZJHQLM 3DZORZLWVFK DQ .HOOHU ªZDQQ GHQQ GLHVH 9HUEHVVHUXQJHQ GHV $UWLNHOV VWDWWJHIXQGHQ KDEHQ© ª*HVWHUQ YRUPLWWDJ© DQWZRUWHWH .HOOHU ª:LU KDWWHQ HLQH =XVDPPHQNXQIWXQGYHUVSUDFKHQXQVJHJHQVHLWLJPLWXQVHUHP (KUHQZRUWGDV *HKHLPQLV]XZDKUHQ© ª'DVZDUDOVRIDVW]X GHUVHOEHQ =HLW DOV HU VLFK JHJHQ GLFK VR NULHFKHULVFK EHQDKP XQG GLFK VHLQHU (UJHEHQKHLW YHUVLFKHUWH 1HLQ GLHVH -DPPHUPHQVFKHQ ,FK EUDXFKH GHLQHQ 3XVFKNLQ QLFKW XQG GHLQH 7RFKWHU VROO DXFK QLFKW ]X PLU NRPPHQ© /LVDZHWD 3URNRIMHZQDZROOWHVFKRQDXIVWHKHQDEHUSO|W]OLFKZDQGWHVLH VLFKJHUHL]WDQGHQODFKHQGHQ,SSROLWª:LHLVWGHQQGDVPHLQ /LHEHU" 'X KDVW PLFK ZRKO KLHU OlFKHUOLFK PDFKHQ ZROOHQ"© ª*RWWEHZDKUH©HUZLGHUWH,SSROLWPLWHLQHPVFKLHIHQ/lFKHOQ ª$EHU PLFK LQWHUHVVLHUW DXHURUGHQWOLFK ,KU H[]HQWULVFKHV :HVHQ/LVDZHWD3URNRIMHZQDXQGLFKPXJHVWHKHQGDLFK GLH *HVFKLFKWH YRQ /HEHGHZ DEVLFKWOLFK DXIV 7DSHW JHEUDFKW KDEH ZHLO LFK ZXWH ZLH GDV DXI 6LH ZLUNHQ ZUGH DXI 6LH DOOHLQ GHQQ GHU )UVW ZLUG LKP JHZL YHU]HLKHQ XQG KDW LKP ZDKUVFKHLQOLFK VFKRQ YHU]LHKHQ ± HU KDW YLHOOHLFKW VFKRQ LP VWLOOHQ HLQH (QWVFKXOGLJXQJ IU LKQ JHVXFKW HV LVW GRFK ZRKO VR)UVWQLFKWZDKU"© (U ZDU JDQ] DXHU $WHP JHNRPPHQ VHLQH VHOWVDPH $XIUHJXQJ ZXFKV PLW MHGHP :RUW ª2K RK© VDJWH /LVDZHWD 3URNRIMHZQD ]RUQLJ VLH ZXQGHUWH VLFK EHU VHLQHQ 7RQ ª1XQ XQG ZHLWHU"© ª,FK KDWWH EHU 6LH VFKRQ YLHO YRQ GLHVHU $UW JHK|UW PLW JURHU )UHXGH JHK|UW LFK KDEH 6LH VHKUVFKlW]HQJHOHUQW©IXKU,SSROLWIRUW 'DVZDUHQVHLQH:RUWHDEHUHUVDJWHVLHLQHLQHU:HLVHDOV REHUPLWLKQHQHWZDVJDQ]DQGHUHVVDJHQZROOWH(UVSUDFKPLW HLQHP %HLNODQJ YRQ 6SRWW XQG UHJWH VLFK JOHLFK]HLWLJ XQYHUKlOWQLVPlLJDXIVDKPLWUDXLVFKXPVLFKXQGJHULHWEHL MHGHP:RUW PHKU LQ 9HUZLUUXQJ XQG 9HUOHJHQKHLW VR GD DOO GLHV LP 9HUHLQ PLW VHLQHP VFKZLQGVFKWLJHQ $XVVHKHQ XQG VHLQHP VRQGHUEDUHQ IXQNHOQGHQ XQG EHLQDK ZWHQGHQ %OLFN
XQZLOONUOLFK GLH DOOJHPHLQH $XIPHUNVDPNHLW IHVVHOWH ª,FK ZUGH PLFK VRQVW REZRKO LFK GLH *HEUlXFKH GHU YRUQHKPHQ :HOWJDUQLFKWNHQQHGDVJHEHLFK]X GDUEHUZXQGHUQGD 6LHQLFKWQXUVHOEVWLQXQVHUHUIU6LHXQSDVVHQGHQ*HVHOOVFKDIW JHEOLHEHQ VLQG VRQGHUQ DXFK GLHVHQ MXQJHQ 0lGFKHQ HUODXEW KDEHQ HLQH VROFKH 6NDQGDOJHVFKLFKWH PLW DQ]XK|UHQ DOOHUGLQJVZHUGHQVLHGDVDOOHVZRKOVFKRQLQ5RPDQHQJHOHVHQ KDEHQ EULJHQV LFK ZHL GDV YLHOOHLFKW QLFKW GHQQ LFK EHILQGHPLFKLQJURHU9HUZLUUXQJDEHUZHUDXHU,KQHQKlWWH HV MHGHQIDOOV IHUWLJJHEUDFKW DXI GLH %LWWH HLQHV .QDEHQ KLQ QXQMDHLQHV.QDEHQDXFKGDVZLOOLFKZLHGHU]XJHEHQ PLW LKPHLQHQ7HLOGHV$EHQGV]XYHUEULQJHQXQGXQGDQDOOHP VROFKHQ $QWHLO ]X QHKPHQ XQG PLW GHU $XVVLFKW VLFK GHVVHQDPQlFKVWHQ7DJ]XVFKlPHQLFKJHEHEULJHQV]X GDLFKPLFKXQULFKWLJDXVGUFNH ,FKOREHGDVDOOHVVHKUXQG VFKODJHHVVHKUKRFKDQREJOHLFKVFKRQDQGHP*HVLFKW6HLQHU ([]HOOHQ],KUHV*HPDKOVGHXWOLFK]XVHKHQLVWZLHZHQLJGDV QDFKVHLQHP8UWHLO]XVHLQHP5DQJSDW+LKL©NLFKHUWHHU HU KDWWH VLFK LQ VHLQHP 5HGHQ Y|OOLJ YHUUDQQW XQG EHNDP QXQ DXI HLQPDO HLQHQ VROFKHQ +XVWHQDQIDOO GD HU PHKUHUH 0LQXWHQ ODQJ QLFKW ZHLWHUVSUHFKHQ NRQQWH ª(U LVW MD JDQ] DXHU $WHP JHNRPPHQ© VDJWH /LVDZHWD 3URNRIMHZQD LQ NDOWHP VFKDUIHP 7RQ LQGHP VLH LKQ PLW HUQVWHU 1HXJLHU EHWUDFKWHWH ª$EHU QXQ PHLQ OLHEHU -XQJH PVVHQ ZLU XQVHU *HVSUlFK DEEUHFKHQ (V LVW =HLW© ª(UODXEHQ 6LH DXFK PLU PHLQ +HUU ,KQHQ PHLQHUVHLWV ]X EHPHUNHQ© EHJDQQ DXI HLQPDO ,ZDQ )MRGRURZLWVFK JHUHL]W GHU GHQ OHW]WHQ 5HVW YRQ *HGXOG YHUORUHQ KDWWH ªGD PHLQH )UDX VLFK KLHU EHL GHP )UVWHQ/HZ1LNRODMHZLWVFKXQVHUPJHPHLQVDPHQ)UHXQGXQG 1DFKEDUQEHILQGHWXQGGDHVMHGHQIDOOV,KQHQMXQJHU0DQQ QLFKW ]XVWHKW EHU /LVDZHWD 3URNRIMHZQDV +DQGOXQJHQ HLQ 8UWHLO ]X IlOOHQ HEHQVRZHQLJ ZLH HV ,KQHQ ]XVWHKW VLFK ODXW XQG PLU LQV *HVLFKW GDUEHU ]X lXHUQ ZDV DXI PHLQHP *HVLFKW JHVFKULHEHQ VWHKW -DZRKO 8QG ZHQQ PHLQH )UDX
KLHUJHEOLHEHQLVW©IXKUHUIRUWLQGHPHUIDVWPLWMHGHP:RUWLQ HLQH JHUHL]WHUH 6WLPPXQJ KLQHLQNDP ªVR KDW VLH GDV YRUZLHJHQG DXV 9HUZXQGHUXQJ JHWDQ XQG DXV GHU DOOHQ EHJUHLIOLFKHQ]HLWJHPlHQ1HXJLHUVRVRQGHUEDUHMXQJH/HXWH NHQQHQ]XOHUQHQ 8QG LFK IU PHLQH HLJHQH 3HUVRQ ELQ KLHUJHEOLHEHQ ZLH LFK PDQFKPDO DXI GHU 6WUDH VWHKHQEOHLEH ZHQQ GD HWZDV ]X VHKHQ LVW VR HLQH HLQH © ª6R HLQH .XULRVLWlW©KDOILKP-HZJHQLM3DZORZLWVFKª*DQ]UHFKWVHKU ULFKWLJ© VDJWH HUIUHXW 6HLQH ([]HOOHQ] GHU *HQHUDO GHU PLW VHLQHP 9HUJOHLFK QLFKW JDQ] KDWWH ]XUHFKWNRPPHQ N|QQHQ ªVR HLQH .XULRVLWlW $EHU MHGHQIDOOV LVW HV IU PLFK K|FKVW HUVWDXQOLFKXQGVRJDUEHWUEHQGGD6LHMXQJHU0HQVFKQLFKW HLQPDOGDVKDEHQEHJUHLIHQN|QQHQGD/LVDZHWD3URNRIMHZQD MHW]WQXUGHVZHJHQEHL,KQHQJHEOLHEHQLVWZHLO6LHNUDQNVLQG ± ZHQQ HV VWLPPW 6LH ZLUNOLFK EDOG VWHUEHQ ZHUGHQ ± VR]XVDJHQ DXV 0LWOHLG ZHJHQ ,KUHU NOlJOLFKHQ 5HGHQ PHLQ +HUUXQGGDLKUHP1DPHQLKUHQSHUV|QOLFKHQ(LJHQVFKDIWHQ XQGLKUHP5DQJLQNHLQHP)DOOLUJHQGHLQ0DNHODQKDIWHQNDQQ /LVDZHWD 3URNRIMHZQD© VFKOR GHU *HQHUDO GHU JDQ] URW JHZRUGHQZDU ªZHQQGXJHKHQZLOOVWVRZROOHQZLUXQVYRQ XQVHUPJXWHQ)UVWHQYHUDEVFKLHGHQXQG©ª,FKGDQNH,KQHQ IUGLH/HNWLRQGLH6LHPLUHUWHLOWKDEHQ*HQHUDO©XQWHUEUDFK LKQ,SSROLWHUQVWLQGHPHULKQQDFKGHQNOLFKDQVDK ª.RPPHQ 6LH PDPDQ :LH ODQJH VROO GHQQ GDV QRFK GDXHUQ"© VDJWH $JODMDXQJHGXOGLJXQG]RUQLJXQGVWDQGYRQLKUHP6WXKODXI ¾1RFK ]ZHL 0LQXWHQ OLHEHU ,ZDQ )MRGRURZLWVFK ZHQQ GX HUODXEVW© ZDQGWH VLFK /LVDZHWD 3URNRIMHZQD PLW ZUGLJHU 5XKHDQLKUHQ*DWWHQ ª0LUVFKHLQWHUILHEHUWYROOVWlQGLJXQG UHGHW JHUDGH]X LUUH LFK VHKH HV LKP DQ GHQ $XJHQ DQ PDQ PX HWZDV IU LKQ WXQ /HZ 1LNRODMHZLWVFK N|QQWH HU QLFKW EHL GLU EHUQDFKWHQ GDPLW HU KHXWH QLFKW QDFK 3HWHUVEXUJ ]XUFNJHVFKOHSSW]XZHUGHQEUDXFKW"6LHODQJZHLOHQVLFKGRFK QLFKW"©ZDQGWHVLHVLFKRKQHYHUVWlQGOLFKHQ*UXQGDXIHLQPDO DQ GHQ )UVWHQ 6LKWVFK ª.RPP HLQPDO KHU $OH[DQGUD XQG
EULQJGHLQ+DDULQ2UGQXQJPHLQ.LQG© 6LH EUDFKWH LKU GDV +DDU LQ 2UGQXQJ DQ GHP QLFKWV LQ 2UGQXQJ ]X EULQJHQ ZDU XQG NWH VLH OHW]WHUHV ZDU GHU HLQ]LJH *UXQG JHZHVHQ ZDUXP VLH VLH ]X VLFK JHUXIHQ KDWWH ª,FKKDEH6LHIUHQWZLFNOXQJVIlKLJJHKDOWHQ©EHJDQQ,SSROLW YRQQHXHPLQGHPHUDXVVHLQHU9HUVXQNHQKHLWZLHGHU]XVLFK NDP ª-D 'DV ZDU HV ZDV LFK QRFK VDJHQ ZROOWH© ULHI HU HUIUHXW DOV RE LKP SO|W]OLFK HWZDV HLQJHIDOOHQ ZlUH ª'D ZQVFKW QXQ %XUGRZVNLM DXIULFKWLJ 0HLQH 0XWWHU ]X EHVFKW]HQ QLFKW ZDKU" $EHU GDV 5HVXOWDW LVW GD HU VLH LQ 8QHKUH EULQJW 'D ZQVFKW QXQ GHU )UVW %XUGRZVNLM ]X KHOIHQXQGELHWHWLKPDXVUHLQHP+HU]HQPHLQH)UHXQGVFKDIW XQG HLQH JURH 6XPPH *HOG DQ XQG LVW YLHOOHLFKW YRQ ,KQHQ DOOHQGHUHLQ]LJHGHUJHJHQLKQNHLQHQ:LGHUZLOOHQHPSILQGHW XQG GRFK VWHKHQ JHUDGH VLH EHLGH HLQDQGHU DOV ZDKUH )HLQGH JHJHQEHU+DKDKD6LHDOOHKDVVHQ%XUGRZVNLMZHLOHUQDFK ,KUHU$QVFKDXXQJVLFKJHJHQVHLQH0XWWHUXQVFK|QXQGXQ]DUW EHQLPPWVRLVWHVGRFK"1LFKW"1LFKW"6LHOHJHQMDDOOHHLQHQ HQRUPHQ :HUW DXI 6FK|QKHLW XQG )HLQKHLW GHU )RUPHQ QXU GDUDXINRPPWHV,KQHQDQQLFKWZDKU",FKKDEHVFKRQODQJH GHQ 9HUGDFKW JHKDEW GD HV VLFK VR YHUKlOW 1XQ VR P|JHQ 6LHGHQQZLVVHQGDYLHOOHLFKWNHLQHUYRQ,KQHQVHLQH0XWWHU VRJHOLHEWKDWZLH%XUGRZVNLM6LH)UVWKDEHQZLHLFKZHL GXUFK*DQMDGHU0XWWHU%XUGRZVNLMVLPVWLOOHQ*HOGJHVFKLFNW XQG QXQ P|FKWH LFK GDUDXI ZHWWHQ KLKLKL© ODFKWH HU K\VWHULVFK ª LFK P|FKWH GDUDXI ZHWWHQ GD %XUGRZVNLM ,KQHQGLHVMHW]WDOVXQ]DUWH)RUPXQGDOVHLQH5HVSHNWORVLJNHLW JHJHQVHLQH0XWWHU]XP9RUZXUIPDFKHQZLUG%HL*RWWVRLVW HV+DKDKD© +LHU EHNDP HU ZLHGHU NHLQH /XIW PHKU XQG PXWH KXVWHQ ª1XQELVW GX IHUWLJ" +DVW GX MHW]W DOOHV JHVDJW ZDV GX VDJHQ ZROOWHVW" 1D GDQQ JHKW MHW]W VFKODIHQ GX KDVW )LHEHU© XQWHUEUDFK LKQ XQJHGXOGLJ /LVDZHWD 3URNRIMHZQD GLH LKUHQ XQUXKLJHQ%OLFNQLFKWYRQLKQDEZDQGWH ª$FK*RWWGXIlQJW
HU IlQJW ZLHGHU DQ ]X UHGHQ© ª6LH ODFKHQ ZRKO" :DV KDEHQ 6LH LPPHU EHU PLFK ]X ODFKHQ" ,FK KDEH EHPHUNW GD 6LH IRUWZlKUHQG EHU PLFK ODFKHQ© ZDQGWH HU VLFK SO|W]OLFK XQUXKLJ LQ JHUHL]WHP 7RQ DQ -HZJHQLM 3DZORZLWVFK 'LHVHU KDWWH WDWVlFKOLFK JHODFKW ª,FK ZROOWH 6LH QXU IUDJHQ +HUU ,SSROLW (QWVFKXOGLJHQ 6LH LFK KDEH ,KUHQ )DPLOLHQQDPHQ YHUJHVVHQ©ª+HUU7HUHQWMHZ©VDJWHGHU)UVWª-D7HUHQWMHZ LFK GDQNH ,KQHQ )UVW GHU 1DPH ZXUGH YRUKLQ JHQDQQW ZDU PLU DEHU ZLHGHU HQWIDOOHQ ,FK ZROOWH 6LH IUDJHQ +HUU 7HUHQWMHZREGDVZDKULVWZDVLFKJHK|UWKDEH6LHVHLHQGHU $QVLFKW 6LH EUDXFKWHQ QXU HLQH 9LHUWHOVWXQGH ODQJ DXV GHP )HQVWHU ]XP 9RON ]X UHGHQ GDQQ VHL HV VRIRUW PLW ,KQHQ LQ DOOHQ 6WFNHQ HLQYHUVWDQGHQ XQG IROJH ,KQHQ VRIRUW"© ª6HKU P|JOLFK GD LFK GDV JHVDJW KDEH© DQWZRUWHWH ,SSROLW ZLH ZHQQHULQVHLQHP*HGlFKWQLVQDFKVXFKWHª,FKKDEHHVVLFKHU JHVDJW© IJWH HU DXI HLQPDO KLQ]X LQGHP HU ZLHGHU OHEKDIWHU ZXUGH XQG HLQHQ IHVWHQ %OLFN DXI -HZJHQLM 3DZORZLWVHK KHIWHWHª1XQXQGZDVIROJHUQ6LHGDUDXV"© ª1LFKWV LFK IUDJWH QXU ZHLO LFK HV JHUQ ZLVVHQ ZROOWH ]XU 9HUYROOVWlQGLJXQJPHLQHU.HQQWQLVVH©-HZJHQLM3DZORZLWVFK VFKZLHJ DEHU ,SSROLW EOLFNWH LKQ LPPHU QRFK XQJHGXOGLJ ZDUWHQG DQ ª1XQ DOVR ELVW GX IHUWLJ"© ZDQGWH VLFK /LVDZHWD 3URNRIMHZQD DQ -HZJHQLM 3DZORZLWVFK ª.RPP VFKQHOO ]X (QGH 9lWHUFKHQ HV LVW IU LKQ =HLW VLFK VFKODIHQ ]X OHJHQ 2GHUYHUVWHKVWGXQLFKWGDV(QGH]XILQGHQ"©6LHlUJHUWHVLFK JHZDOWLJ ª,FK ZUGH JHUQ QRFK KLQ]XIJHQ© IXKU -HZJHQLM 3DZORZLWVFKOlFKHOQGIRUWªGDDOOHVZDVLFKYRQVHOWHQ,KUHU .DPHUDGHQ JHK|UW KDEH XQG DOOHV ZDV 6LH VRHEHQ DXVHLQ DQGHUJHVHW]W KDEHQ XQG ]ZDU PLW JDQ] XQEH]ZHLIHOEDUHP 7DOHQW PHLQHU $QVLFKW QDFK ]X GHU 7KHRULH JHK|UW GD GDV 5HFKWYRUDOOHPXQGEHUDOOHVXQGVRJDUXQWHU$XVVFKOLHXQJ DOOHV DQGHUQ WULXPSKLHUHQ PX XQG YLHOOHLFKW VRJDU RKQH GLH )HVWVWHOOXQJ ZRULQ GHQQ HLJHQWOLFK GDV 5HFKW EHVWHKW 9LHOOHLFKWLUUHLFKPLFK"© ª*HZL6LHLUUHQVLFKLFKYHUVWHKH
6LHQLFKWHLQPDO8QGZHLWHU"© $XFKLQGHU(FNHZXUGHJHPXUUW/HEHGHZV1HIIHPXUPHOWH HWZDV KDOEODXW ª:HLWHU KDEH LFK HLJHQWOLFK NDXP HWZDV ]X VDJHQ© IXKU -HZJHQLM 3DZORZLWVFK IRUW ªLFK ZROOWH QXU QRFK EHPHUNHQGDLQIROJHGLHVHV9HUIDKUHQVGLH6DFKHJHUDGH]XLQ GDV5HFKWGHU*HZDOWXPVFKODJHQNDQQGDVKHLWLQGDV5HFKW GHU HLQ]HOQHQ )DXVW XQG GHV SHUV|QOLFKHQ %HOLHEHQV ZDV EULJHQV LQ GHU :HOW VHKU RIW GHU $XVJDQJ JHZHVHQ LVW $XFK 3URXGKRQ LVW EHL GHP 5HFKW GHU *HZDOW VWHKHQJHEOLHEHQ ,P DPHULNDQLVFKHQ .ULHJ KDEHQ YLHOH K|FKVW IRUWVFKULWWOLFKH /LEHUDOH VLFK IU GLH 3IODQ]HU HUNOlUW DXI *UXQG GHU $QVFKDXXQJ GD GLH 1HJHU HEHQ QXU 1HJHU VHLHQ XQG WLHIHU VWQGHQ DOV GLH ZHLH 5DVVH XQG GDV IROJOLFK GDV 5HFKW GHU *HZDOWDXI6HLWHQGHU:HLHQVHL©ª1XQ"©ª'DVKHLWDOVR 6LH YHUZHUIHQ GDV 5HFKW GHU *HZDOW QLFKW"© ª:HLWHU"© ª6LH VLQG MHGHQIDOOV NRQVHTXHQW LFK ZROOWH QXU EHPHUNHQ GD HV YRQ GHP 5HFKW GHU *HZDOW ]X GHP 5HFKW GHU 7LJHU XQG .URNRGLOH XQG VRJDU ]X 0lQQHUQ ZLH 'DQLORZ XQG *RUVNLM QLFKWZHLWLVW©ª,FKZHLQLFKW:HLWHU"© ,SSROLWK|UWHNDXP]XZDV-HZJHQLM3DZORZLWVFKVDJWHXQG ZHQQ HU VHLQ ªQXQ© XQG ªZHLWHU© GD]ZLVFKHQ ZDUI VR VFKLHQ HU GDV PHKU DXV HLQHU DOWHQ EHL *HVSUlFKHQ DQJHQRPPHQHQ *HZRKQKHLW XQG QLFKW DXV $XIPHUNVDPNHLW XQG 1HXJLHU ]X WXQª:HLWHUZROOWHLFKQLFKWVVDJHQGDVLVWDOOHV© ª,FKELQ ,KQHQ EULJHQV QLFKW E|VH© VDJWH ,SSROLW ]XP 6FKOX DXI HLQPDO JDQ] XQHUZDUWHW XQG VWUHFNWH ZRKO RKQH VLFK GHVVHQ VHOEVW UHFKW EHZXW ]X ZHUGHQ GHP DQGHUQ GLH +DQG KLQ ZREHL HU VRJDU OlFKHOWH -HZJHQLM 3DZORZLWVFK ZDU ]XHUVW HUVWDXQW HUJULII GDQQ DEHU PLW JDQ] HUQVWHP *HVLFKW GLH LKP KLQJHKDOWHQH +DQG DOV QlKPH HU GLH DQJHERWHQH 9HU]HLKXQJ DQ ª,FK PX QRFK KLQ]XIJHQ© VDJWH HU LQ GHPVHOEHQ ]ZHLGHXWLJ±UHVSHNWYROOHQ7RQªGDLFK,KQHQGDQNEDUELQIU GLH $XIPHUNVDPNHLW PLW GHU 6LH PLFK KDEHQ UHGHQ ODVVHQ GHQQ QDFK PHLQHQ ]DKOUHLFKHQ %HREDFKWXQJHQ N|QQHQ XQVHUH
/LEHUDOHQ QLHPDQG VHLQH HLJHQH 0HLQXQJ DXVVSUHFKHQ ODVVHQ RKQH LKUHP 2SSRQHQWHQ VRIRUW PLW 6FKLPSIZRUWHQ RGHU VRJDU PLW QRFK 6FKOLPPHUHP ]X DQWZRUWHQ © ª'D KDEHQ 6LH YROONRPPHQ UHFKW© EHPHUNWH *HQHUDO ,ZDQ )MRGRURZLWVFK XQG ]RJ VLFK GLH +lQGH DXI GHQ 5FNHQ JHOHJW PLW JHODQJZHLOWHU0LHQH]XP$XVJDQJGHU9HUDQGD]XUFNZRHU YRU bUJHU JlKQWH ª1D QXQ DEHU 6FKOX OLHEHU )UHXQG© ZDQGWH VLFK /LVDZHWD 3URNRIMHZQD HQHUJLVFK DQ -HZJHQLM 3DZORZLWVFKª,FKKDEHHXUH*HVSUlFKHVDWW© ª(VLVW=HLW© VDJWH ,SSROLWGHUVLFKEHVRUJWXQGIDVWHUVFKURFNHQHUKREXQG YHUZLUUWXPVLFKEOLFNWHª,FKKDEH6LHDXIJHKDOWHQLFKZROOWH ,KQHQDOOHVVDJHQLFKPHLQWHGD6LHDOOH]XPOHW]WHQPDO HVZDU3KDQWDVLH© (V ZDU GHXWOLFK GD HU PDQFKPDO ZLH PLW HLQHP 5XFN ZLHGHU OHEHQGLJHU ZXUGH XQG DXV HLQHP DQ ZLUNOLFKHV ,UUHUHGHQ JUHQ]HQGHQ =XVWDQG DXI HLQPDO IU HLQLJH $XJHQEOLFNH IUHLNDP VLFK PLW YROOHP %HZXWVHLQ HULQQHUWH XQGVSUDFKXQG ]ZDU JU|WHQWHLOV LQ DEJHULVVHQHQ 6lW]HQ GLH HU VLFK YLHOOHLFKW VFKRQ YRU OlQJHUHU =HLW LQ ODQJHQ |GHQ .UDQNKHLWVVWXQGHQZHQQHUHLQVDPXQGVFKODIORVLP%HWWODJ LQ*HGDQNHQ]XUHFKWJHOHJWXQGDXVZHQGLJJHOHUQWKDWWHª1XQ DOVROHEHQ6LHZRKO© VDJWH HU SO|W]OLFK VFKURII ª6LH PHLQHQ ZRKO HV ZLUG PLU OHLFKW ,KQHQ /HEHZRKO ]X VDJHQ" +DKD© ODFKWHHUVHOEVWlUJHUOLFKEHUVHLQHXQJHVFKLFNWH)UDJH'DQQ IJWHHUZLHHUJULPPWGDUEHUGDHVLKPQLHUHFKWJHODQJ]X VDJHQ ZDV HU ZROOWH ODXW XQG JHUHL]W KLQ]X ª([]HOOHQ] LFK KDEHGLH(KUH6LH]XPHLQHP%HJUlEQLVHLQ]XODGHQZHQQ6LH PLFK GLHVHU (KUH ZUGLJHQ ZROOHQ XQG QDFK GHP *HQHUDO DXFK6LHDOOHPHLQH+HUUVFKDIWHQ© (U ODFKWH ZLHGHU DXI DEHU GDV ZDU VFKRQ GDV /DFKHQ HLQHV ,UUHQ/LVDZHWD3URNRIMHZQDWUDWHUVFKURFNHQDQLKQKHUDQXQG IDWH LKQ EHL GHU +DQG (U VDK VLH VWDUU DQ PLW GHPVHOEHQ /DFKHQ GDV DEHU QLFKW PHKU IRUWGDXHUWH VRQGHUQ JOHLFKVDP LQQHKLHOWXQGDXIVHLQHP*HVLFKWHUVWDUUWH ª:LVVHQ6LH ZRKO
GD LFK KLHUKHUJHNRPPHQ ELQ XP %lXPH ]X VHKHQ" 'LHVH %lXPH KLHU © (U ZLHV DXI GLH %lXPH GHV 3DUNV ª,VW GDV QLFKW OlFKHUOLFK ZLH" (LJHQWOLFK LVW GDEHL GRFK QLFKWV OlFKHUOLFK"©IUDJWHHU/LVDZHWD3URNRIMHZQDHUQVWXQGEHUOLH VLFKZLHGHUVHLQHQ*HGDQNHQ'DQQHLQHQ$XJHQEOLFNGDUDXI KREHUGHQ.RSILQGLH+|KHXQGEHJDQQHLIULJPLWGHQ$XJHQ XQWHU GHQ $QZHVHQGHQ ]X VXFKHQ (U VXFKWH -HZJHQLM 3DZORZLWVFK GHU JDQ] LQ GHU 1lKH UHFKWV YRQ LKP DXI GHPVHOEHQ)OHFNVWDQGZLHYRUKHU HUKDWWHGDVMHGRFKEHUHLWV YHUJHVVHQ XQG VXFKWH LKQ ULQJVXPKHU ª$K 6LH VLQG QLFKW IRUWJHJDQJHQ©VDJWHHUDOVHULKQHQGOLFKJHIXQGHQKDWWHª6LH KDEHQ VLFK YRUKLQ GDUEHU OXVWLJ JHPDFKW GD LFK HLQH 9LHUWHOVWXQGH ODQJ DXV GHP )HQVWHU VSUHFKHQ ZROOWH $EHU ZLVVHQ6LHLFKELQQRFKQLFKWDFKW]HKQ-DKUHDOWLFK KDEH VR YLHO DXI GHP %HWW JHOHJHQ XQG VR YLHO GXUFK GLHVHV )HQVWHU JHVFKDXWXQGVRYLHOQDFKJHGDFKWEHUDOOHVP|JOLFKHGD (LQ7RWHUKDWNHLQ$OWHUZLH6LHZLVVHQQRFKLQGHUYRULJHQ :RFKH KDEH LFK GDUEHU QDFKJHGDFKW DOV LFK LQ GHU 1DFKW DXIJHZDFKW ZDU :LVVHQ 6LH DEHU ZDV 6LH DP PHLVWHQ IUFKWHQ" $P PHLVWHQ IUFKWHQ 6LH XQVHUH $XIULFKWLJNHLW REZRKO 6LH XQV YHUDFKWHQ $XFK GDV KDEH LFK GDPDOV LQ GHU 1DFKW LP %HWW EHUOHJW 6LH PHLQHQ LFK KlWWH PLFK YRUKLQ EHU 6LH OXVWLJ PDFKHQ ZROOHQ /LVDZHWD 3URNRIMHZQD" 1HLQ LFKKDEHPLFKQLFKWEHU6LHOXVWLJJHPDFKWLFKZROOWH6LHQXU OREHQ .ROMD KDW PLU JHVDJW GHU )UVW KDEH 6LH HLQ .LQG JHQDQQW 'DV LVW JXW -D ZDV KDWWH LFK GRFK QRFK LFK ZROOWHQRFKHWZDVVDJHQ © (U EHGHFNWH GDV *HVLFKW PLW GHQ +lQGHQXQGGDFKWHQDFKª'DVZDU¶VDOV6LHYRUKLQ$EVFKLHG QDKPHQ GD GDFKWH LFK DXI HLQPDO GD VLQG QXQ GLHVH 0HQVFKHQ XQG VLH ZHUGHQ IU LPPHU YHUJHKHQ IU LPPHU 8QGGLHVH%lXPHDXFK1XUGLH%DFNVWHLQZDQGZLUGEHVWHKHQ EOHLEHQ GLH URWH %DFNVWHLQZDQG GHV 0H\HUVFKHQ +DXVHV PHLQHP )HQVWHU JHJHQEHU 1XQ VSULFK LKQHQ HLQPDO YRQ DOOH±GHP YHUVXFK HV UHGH GDYRQ GD LVW HLQ VFK|QHV
0lGFKHQGXELVWMDHLQ7RWHUVWHOOHGLFKDOV7RWHUYRUVDJH GD HLQ 7RWHU DOOHV VDJHQ GDUI XQG GD HV LKQ QLFKW PHKU NPPHUWREGLH)UVWLQ0DUMD$OH[HMHZQDVFKLOW KDKD6LH ODFKHQGRFKQLFKW"©(UOLHVHLQHQ%OLFNPLWUDXLVFKEHUDOOH KLQVFKZHLIHQª:LVVHQ6LHZHQQLFKVRLP%HWWODJGDNDPHQ PLUYLHOH*HGDQNHQZLVVHQ6LHLFKELQ]XGHUhEHU]HXJXQJ JHODQJWGDGLH1DWXUVHKUVSRWWOXVWLJLVW6LHVDJWHQYRUKLQ LFKVHLHLQ$WKHLVWDEHUZLVVHQ6LHGLH1DWXU:DUXPODFKHQ 6LHZLHGHU"6LHVLQG IXUFKWEDU JUDXVDP© VDJWH HU WUDXULJ XQG XQZLOOLJ LQGHP HU DOOH ULQJVXP DQVDK ª,FK KDEH .ROMD QLFKW YHUGRUEHQ©VFKORHULQY|OOLJYHUlQGHUWHP HUQVWHP 7RQ LP 7RQIHVWHUhEHU]HXJXQJDOVRELKPDXFKGLHVHEHQHLQILHOH ª1LHPDQGQLHPDQGODFKWKLHUEHUGLFKEHUXKLJHGLFK©VDJWH /LVDZHWD 3URNRIMHZQD IDVW JHTXlOW ª0RUJHQ ZLUG HLQ QHXHU $U]W ]X GLU NRPPHQ GHLQ ELVKHULJHU KDW VLFK JHLUUW $EHU VR VHW] GLFK GRFK GX NDQQVW MD QLFKW DXI GHQ %HLQHQ VWHKHQ 'X UHGHVW ZLUU $FK ZDV VROOHQ ZLU MHW]W PLW LKP DQIDQJHQ"© VDJWH VLH LQGHP VLH LKQ HLIULJ YHUDQODVVHQ ZROOWH VLFK DXI HLQHQ /HKQVWXKO ]X VHW]HQ (LQH 7UlQH JOLW]HUWH DXI LKUHU :DQJH ,SSROLW EOLHE EHUUDVFKW VWHKHQ GDQQ KRE HU GHQ $UP VWUHFNWH LKQ IXUFKWVDP DXV XQG EHUKUWH PLW GHU +DQG GLHVH 7UlQH $XI VHLQHP *HVLFKW VSLHOWH HLQ HLJHQWPOLFKHV NLQGOLFKHV /lFKHOQ ª,FK KDEH 6LH © EHJDQQ HU HUIUHXW ª6LH ZLVVHQ QLFKW ZLH LFK 6LH HU KDW LPPHU PLW VROFKHU %HJHLVWHUXQJYRQ,KQHQJHVSURFKHQHU.ROMDLFKOLHEHVHLQH %HJHLVWHUXQJ,FKKDEHLKQQLFKWYHUGRUEHQ(ULVWGHU HLQ]LJH )UHXQGGHQLFK]XUFNODVVHLFKKlWWHJHUQDOOH0HQVFKHQDOV PHLQH)UHXQGH]XUFNJHODVVHQDOOHDEHULFKKDEHNHLQHQ]XP )UHXQG JHZLQQHQ N|QQHQ NHLQHQ ,FK ZROOWH WlWLJ VHLQ LFK KDWWH HLQ 5HFKW GDUDXI 2K ZLH YLHOHV ZROOWH LFK -HW]W ZLOO LFKQLFKWVPHKULFKZLOOQLFKWVPHKUZROOHQLFKKDEHPLUGDV
$QVSLHOXQJ DXI GLH 6FKOXZRUWH YRQ *ULERMHGRZV /XVWVSLHO ª9HUVWDQG VFKDIIW/HLGHQ©
:RUW GDUDXI JHJHEHQ QLFKWV PHKU ]X ZROOHQ P|JHQ VLH P|JHQVLHMHW]WRKQHPLFKGLH:DKUKHLWVXFKHQ-DGLH1DWXU LVW VSRWWOXVWLJ :DUXP© IXKU HU SO|W]OLFK OHEKDIWHU ZHUGHQG IRUW ªZDUXPVFKDIIW VLH GLH EHVWHQ :HVHQ XP VLFK GDQQ EHU VLH OXVWLJ ]X PDFKHQ" 6LH KDW HV VR HLQJHULFKWHW GD GDV HLQ]LJH:HVHQGDVPDQDXI(UGHQDOVYROONRPPHQDQHUNDQQW KDW VLH KDW HV HLQJHULFKWHW GD DOV VLH HV GHQ 0HQVFKHQ JH]HLJW KDWWH VLH JHUDGH GLHVHV :HVHQ GD]X SUlGHVWLQLHUW KDW /HKUHQ ]X YHUNQGHQ LQIROJH GHUHQ VR YLHO %OXW YHUJRVVHQ ZRUGHQ LVW GD ZHQQ HV DOOHV DXI HLQPDO YHUJRVVHQ ZRUGHQ ZlUH GLH 0HQVFKHQ GDULQ VLFKHU HUWUXQNHQ ZlUHQ 2K HV LVW JXW GD LFK VWHUEH ,FK KlWWH DXFK YLHOOHLFKW LUJHQGHLQH IXUFKWEDUH /JH JHVDJW GLH 1DWXU ZUGH HV VFKRQ VR HLQJHULFKWHW KDEHQ ,FK KDEH QLHPDQG YHUGRUEHQ ,FK ZROOWHOHEHQXPGDV*OFNDOOHU0HQVFKHQ]XI|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hEHU]HXJXQJ KDEH LFK YHUEUHLWHW /DFKHQ 6LH QLFKW EHU GHQ 7RUHQ 9HUJHVVHQ6LHPLFK9HUJHVVHQ6LHDOOHVYHUJHVVHQ6LHELWWH VHLHQ 6LH QLFKW VR JUDXVDP :LVVHQ 6LH ZHQQ VLFK GLHVH 6FKZLQGVXFKW QLFKW HLQJHVWHOOW KlWWH KlWWH LFK PLU VHOEVW GDV /HEHQJHQRPPHQ© (U VFKLHQ QRFK YLHOHV VDJHQ ]X ZROOHQ DEHU HU VSUDFK QLFKW ]X(QGHZDUIVLFKLQGHQ/HKQVWXKOEHGHFNWHGDV*HVLFKWPLW GHQ+lQGHQXQGZHLQWHZLHHLQNOHLQHV.LQG ª1DQXQVDJHQ
6LHEORZDVVROOPDQQXQPLWLKPDQIDQJHQ"©ULHI /LVDZHWD 3URNRIMHZQDVWU]WHDXILKQ]XIDWHVHLQHQ.RSIXQGGUFNWH LKQIHVWJDQ]IHVWJHJHQLKUH%UXVW(UVFKOXFK]WHNUDPSIKDIW ª1XQ QXQ QXQ 1XQ ZHLQH QXU QLFKW QXQ OD QXU JXW VHLQ GX ELVW HLQ JXWHU -XQJH *RWW ZLUG GLU ZHJHQ GHLQHU 8QZLVVHQKHLWYHU]HLKHQQXQK|UQXUDXI]HLJGLFKPDQQKDIW 6RQVW PXW GX GLFK MD DXFK VFKlPHQ © ª,FK KDEH GD ]X +DXVH© UHGHWH ,SSROLW ZHLWHU LQGHP HU PLW $QVWUHQJXQJ GHQ .RSIHLQZHQLJLQGLH+|KHKRE ªLFKKDEHHLQHQ%UXGHUXQG ]ZHL6FKZHVWHUQNOHLQHDUPHXQVFKXOGLJH.LQGHU6LHZLUG VLHYHUGHUEHQ6LHVLQGHLQH+HLOLJH6LH±VLQGVHOEVWHLQ.LQG ±UHWWHQ6LHVLH(QWUHLHQ6LHVLHGLHVHUVLHLVWHVLVWHLQH 6FKDQGH2KKHOIHQ6LHLKQHQKHOIHQ6LHLKQHQ*RWWZLUGHV ,KQHQKXQGHUWIDFKYHUJHOWHQ+HOIHQ6LHXP*RWWHVZLOOHQXP &KULVWL ZLOOHQ © ª1XQ VDJHQ 6LH GRFK HQGOLFK ,ZDQ )MRGRURZLWVFK ZDV MHW]W JHVFKHKHQ VROO© ULHI /LVDZHWD 3URNRIMHZQDLQJHUHL]WHP7RQª7XQ6LHPLUGHQ*HIDOOHQXQG EUHFKHQ 6LH ,KU PDMHVWlWLVFKHV 6FKZHLJHQ :HQQ 6LH NHLQH (QWVFKHLGXQJ WUHIIHQ VR P|JHQ 6LH ZLVVHQ GD LFK VHOEVW KLHUEOHLEHQXQGKLHUEHUQDFKWHQZHUGH6LHKDEHQPLFKJHQXJ PLW,KUHU+HUUVFKVXFKWW\UDQQLVLHUW© 6ROFKH OHEKDIWHQ ]RUQLJHQ )UDJHQ ZDUHQ EHL /LVDZHWD 3URNRIMHZQD QLFKWV 6HOWHQHV XQG VLH HUZDUWHWH GDQQ HLQH VRIRUWLJH$QWZRUW$EHULQVROFKHQ)lOOHQSIOHJHQGLHPHLVWHQ $QZHVHQGHQ DXFK ZHQQ LKUHU YLHOH VLQG PLW 6WLOOVFKZHLJHQ XQG SDVVLYHU 1HXJLHU ]X DQWZRUWHQ RKQH GD VLH 9HUODQJHQ WUDJHQ HWZDV DXI VLFK ]X EH]LHKHQ XQG HQWVSUHFKHQG ]X KDQGHOQ LKUH *HGDQNHQ VSUHFKHQ VLH GDQQ HUVW ODQJH QDFKKHU DXV8QWHUGHQKLHU$QZHVHQGHQEHIDQGHQVLFKDXFKHLQLJHGLH EHUHLW ZDUHQ RKQH HLQ :RUW ]X VDJHQ Q|WLJHQIDOOV ELV ]XP 0RUJHQGD]XVLW]HQ]XP%HLVSLHO:DUZDUD$UGDOLRQRZQDGLH GHQ JDQ]HQ $EHQG EHU VFKZHLJVDP LQ HLQLJHU (QWIHUQXQJ JHVHVVHQXQGZlKUHQGGHU JDQ]HQ =HLW PLW DXHURUGHQWOLFKHP ,QWHUHVVH ]XJHK|UW KDWWH ZR]X VLH YLHOOHLFKW LKUH EHVRQGHUHQ
*UQGH KDWWH ª0HLQH 0HLQXQJ OLHEH )UDX© YHUVHW]WH GHU *HQHUDO ªJHKW GDKLQ GD KLHU MHW]W VR]XVDJHQ HLQH .UDQNHQSIOHJHULQ EHVVHU DQJHEUDFKW ZlUH DOV ZLU PLW XQVHUHU $XIUHJXQJ XQG YLHOOHLFKW DXHUGHP QRFK HLQ ]XYHUOlVVLJHU QFKWHUQHU 0HQVFK IU GLH 1DFKW -HGHQIDOOV PVVHQ ZLU GHQ )UVWHQ IUDJHQ XQG ± GDQQ VRIRUW IU 5XKH VRUJHQ 0RUJHQ N|QQHQ ZLU MD XQVHUH 7HLOQDKPH ZHLWHU EHNXQGHQ© ª(V LVW JOHLFK]Z|OI8KUZLUZROOHQIDKUHQ6ROOHUQXQPLWXQVIDKUHQ RGHUEHL ,KQHQEOHLEHQ"©ZDQGWHVLFK'RNWRUHQNRJHUHL]WXQG lUJHUOLFKDQGHQ)UVWHQª:HQQ6LHZROOHQN|QQHQDXFK6LH EHL LKP KLHUEOHLEHQ© DQWZRUWHWH GHU )UVW ª(V ZLUG 3ODW] JHQXJGDVHLQ©ª([]HOOHQ]©VDJWHXQHUZDUWHW+HUU.HOOHUGHU UDVFK XQG HLIULJ DQ GHQ *HQHUDO KHUDQWUDW ªZHQQ HLQ ]XYHUOlVVLJHU0HQVFKIUGLH1DFKWHUIRUGHUOLFKLVWVRELQLFK EHUHLWIUPHLQHQ)UHXQGGLHVHV2SIHU]XEULQJHQHULVWHLQH JDQ] KHUUOLFKH 6HHOH ,FK KDOWH LKQ VFKRQ ODQJH IU HLQHQ EHGHXWHQGHQ 0HQVFKHQ ([]HOOHQ] 0HLQH HLJHQH %LOGXQJ LVW MD QDWUOLFK QXU PDQJHOKDIW DEHU ZHQQ HU HWZDV NULWLVLHUW LVW MHGHV:RUWYRQLKPHLQH3HUOHHUVWUHXWGLH3HUOHQQXUVRXP VLFK([]HOOHQ]© 'HU*HQHUDOZDQGWHVLFKPLW HLQHU 0LHQH GHU 9HU]ZHLIOXQJ DE ª,FK ZUGH PLFK VHKU IUHXHQ ZHQQ HU KLHUEOHLEW GDV )DKUHQZUGHIULKQQDWUOLFKHLQHE|VH6DFKHVHLQ©HUNOlUWH GHU )UVW DXI /LVDZHWD 3URNRIMHZQDV HUUHJWH )UDJHQ ª$EHU ZLUVW GX GHQQ GDQQ VHOEVW ]XP 6FKODIHQ NRPPHQ" :HQQ GX LKQQLFKWKLHUEHKDOWHQPDJVW9lWHUFKHQGDQQZHUGHLFKLKQ]X XQVWUDQVSRUWLHUHQODVVHQ2*RWWHUNDQQVLFKMDNDXPVHOEVW DXIGHQ%HLQHQKDOWHQ'XELVWNUDQNQLFKWZDKU"© $OV /LVDZHWD 3URNRIMHZQD GHQ )UVWHQ QLFKW DXI GHP 6WHUEHEHWWH IDQG KDWWH VLH QDFK GHP lXHUHQ $XVVHKHQ XUWHLOHQG VHLQHQ *HVXQGKHLWV]XVWDQG IU YLHO EHIULHGLJHQGHU JHKDOWHQ DOV HU LQ :LUNOLFKNHLW ZDU DEHU GLH VRHEHQ EHUVWDQGHQH .UDQNKHLW GLH VFKZHUHQ PLW LKU YHUEXQGHQHQ (ULQQHUXQJHQ GLH (UPGXQJ YRQ GHP XQUXKLJHQ $EHQG GLH
$IIlUH PLW GHP ª6RKQ 3DZOLVFKWVFKHZV© XQG GHU MHW]LJH 9RUIDOOPLW ,SSROLW DOOHV GLHV KDWWH ]XVDPPHQJHZLUNW XP GLH NUDQNKDIWH (PSILQGVDPNHLW GHV )UVWHQ ELV ]X HLQHP ILHEHUKDIWHQ =XVWDQG ]X VWHLJHUQ $EHU DXHUGHP EHXQUXKLJWH LKQ MHW]W QRFK HLQH DQGHUH 6RUJH MD HLQH %HIUFKWXQJ HU EHREDFKWHWH lQJVWOLFK ,SSROLW DOV RE HU YRQ LKP QRFK HWZDV HUZDUWHWH 3O|W]OLFKHUKREVLFK,SSROLWHUZDUVFKUHFNOLFKEODXQGVHLQ YHU]HUUWHV *HVLFKW WUXJ GHQ $XVGUXFN IXUFKWEDUHU YHU]ZHLIHOWHU 6FKDP 'DV WUDW QDPHQWOLFK LQ VHLQHP %OLFN ]XWDJHGHUYROO+DXQG)XUFKWDXIGLH$QZHVHQGHQJHULFKWHW ZDUXQGLQGHPYHUOHJHQHQVFKLHIHQXPKHULUUHQGHQ /lFKHOQ DXI VHLQHQ ]XFNHQGHQ /LSSHQ 'LH $XJHQ VFKOXJ HU VRIRUW ZLHGHU QLHGHU XQG JLQJ PLW VFKZDQNHQGHQ 6FKULWWHQ LPPHU QRFK LQ JOHLFKHU :HLVH OlFKHOQG DXI %XUGRZVNLM XQG 'RNWRUHQNR ]X GLH DP $XVJDQJ GHU 9HUDQGD VWDQGHQ HU ZROOWH PLW LKQHQ ZHJIDKUHQ ª'DV ZDU HV ZDV LFK EHIUFKWHWH©ULHIGHU)UVWª6RPXWHHVNRPPHQ© 0LW UDVHQGHP ,QJULPP ZDQGWH VLFK ,SSROLW VFKQHOO ]X LKP XP MHGHU 0XVNHO VHLQHV *HVLFKWV ]LWWHUWH XQG VFKLHQ ]X VSUHFKHQ ª$K 6LH KDEHQ GDV EHIUFKWHW 6R PXWH HV QDFK ,KUHU0HLQXQJNRPPHQ6RP|JHQ6LHGHQQZLVVHQ©KHXOWHHU KHLVHUXQGNUHLVFKHQGXQG6SHLFKHOWU|SIFKHQIORJHQLKPGDEHL DXV GHP 0XQG ªGD ZHQQ LFK MHPDQG KLHU KDVVH XQG LFK KDVVH6LHDOOHDOOH LFK6LHYRQDOOHQXQGYRQDOOHPZDV HV DXIGHU:HOWJLEWDPPHLVWHQKDVVH6LH-HVXLW6LH6LUXSVHHOH 6LH ,GLRW 6LH 0LOOLRQlU XQG :RKOWlWHU ,FK KDEH 6LH VFKRQ ODQJH GXUFKVFKDXW XQG JHKDW VFKRQ GDPDOV DOV LFK 6LH QXU HUVW YRP +|UHQVDJHQ NDQQWH LFK KDEH 6LH JHKDW PLW GHP JDQ]HQ +D PHLQHU 6HHOH 'DV KDEHQ 6LH KLHU MHW]W DOOHV NXQVWYROO DUUDQJLHUW 6LH KDEHQ EHL PLU HLQHQ $QIDOO KHUEHLJHIKUW6LHKDEHQHLQHQ6WHUEHQGHQGDKLQJHEUDFKWVLFK ]X VFKlPHQ 6LH 6LH 6LH VLQG DQ PHLQHP XQZUGLJHQ .OHLQPXWVFKXOG,FKZUGH6LHHUPRUGHQZHQQLFKDP/HEHQ
EOLHEH ,FK EUDXFKH ,KUH :RKOWDWHQ QLFKW LFK QHKPH YRQ QLHPDQG:RKOWDWHQDQK|UHQ6LHYRQQLHPDQGXQGQLFKWV,FK KDEHYRUKLQLP'HOLULXPJHVSURFKHQHUGUHLVWHQ6LHVLFKQLFKW ]XWULXPSKLHUHQ,FKYHUIOXFKH6LHDOOHHLQIUDOOHPDO© +LHU JLQJ LKP GLH /XIW Y|OOLJ DXV ª(U VFKlPW VLFK VHLQHU 7UlQHQ© IOVWHUWH /HEHGHZ GHU *HQHUDOLQ ]X ª¾6R PXWH HV NRPPHQ½-DMDGHU)UVW'HUKDWLQVHLQHU6HHOHJHOHVHQ© $EHU/LVDZHWD3URNRIMHZQDZUGLJWHLKQNHLQHV%OLFNHV6LH VWDQG VWRO] DXIJHULFKWHW PLW ]XUFNJHZRUIHQHP .RSI GD XQG EHWUDFKWHWH PLW JHULQJVFKlW]LJHU 1HXJLHU ªGLHVH -DPPHU PHQVFKHQ© $OV ,SSROLW VFKZLHJ ]XFNWH GHU *HQHUDO GLH 6FKXOWHUQDEHUVHLQH)UDXVDKLKQ]RUQLJYRP.RSIELV]XGHQ )HQ DQ DOV ZROOWH VLH LKQ ZHJHQ GLHVHU %HZHJXQJ ]XU 5HFKHQVFKDIW ]LHKHQ XQG ZDQGWH VLFK VRJOHLFK ]XP )UVWHQ ª,FK GDQNH ,KQHQ )UVW 6LH H[]HQWULVFKHU )UHXQG XQVHUHV +DXVHVIUGHQDQJHQHKPHQ$EHQGGHQ6LHXQVDOOHQEHUHLWHW KDEHQ *HZL VLQG 6LH MHW]W LP +HU]HQ IURK GDUEHU GD HV ,KQHQ JHOXQJHQ LVW DXFK XQV LQ ,KUH 'XPPKHLWHQ ]X YHUZLFNHOQ 0DFKHQ ZLU 6FKOX OLHEHU )UHXQG XQVHUHV +DXVHV LFK GDQNH ,KQHQ GD 6LH XP *HOHJHQKHLW JHJHEHQ KDEHQZHQLJVWHQV6LHJHQDXNHQQHQ]XOHUQHQ© 0LWDOOHQ=HLFKHQGHV8QZLOOHQVEUDFKWHVLHLKUH0DQWLOOHLQ 2UGQXQJ XQG ZDUWHWH GDUDXI GD ªMHQH GD© DXIEUlFKHQ )U ªMHQH GD© IXKU LQ GLHVHQ $XJHQEOLFN HLQH 'URVFKNH YRU GLH 'RNWRUHQNR VFKRQ YRU HLQHU 9LHUWHOVWXQGH GXUFK /HEHGHZV 6RKQGHQ*\PQDVLDVWHQKDWWHKROHQODVVHQ'HU*HQHUDOIJWH GHPZDVVHLQH*DWWLQJHVDJWKDWWHVRIRUWDXFKVHLQHUVHLWVHLQ :RUWKLQ]Xª,QGHU7DW)UVWLFKKlWWHQLFKWHUZDUWHWQDFK DOOHP QDFK DOO GHQ IUHXQGVFKDIWOLFKHQ %H]LHKXQJHQ XQG VFKOLHOLFKKDW/LVDZHWD3URNRIMHZQD©ª$EHUZLHLVWHVQXU P|JOLFK ZLH LVW HV QXU P|JOLFK© ULHI $GHODLGD LQGHP VLH VFKQHOODQGHQ)UVWHQKHUDQWUDWXQGLKPGLH+DQGUHLFKWH 'HU )UVW OlFKHOWH VLH PLW YHUZLUUWHU 0LHQH DQ 3O|W]OLFK GUDQJ HLQ HUUHJWHV KDVWLJHV )OVWHUQ DQ VHLQ 2KU ª:HQQ 6LH
QLFKW DXJHQEOLFNOLFK GHQ 9HUNHKU PLW GLHVHQ JDUVWLJHQ 0HQVFKHQ DEEUHFKHQ ZHUGH LFK 6LH PHLQ /HEHQ ODQJ PHLQ JDQ]HV /HEHQ ODQJ KDVVHQ© IOVWHUWH $JODMD 6LH ZDU JDQ] DXHU VLFK YRU (PS|UXQJ DEHU VLH ZDQGWH VLFK DE HKH GHU )UVW =HLW IDQG VLH DQ]XVHKHQ hEULJHQV KDWWH HU ]X HLQHP $EEUXFK GHV 9HUNHKUV NHLQH 0|JOLFKNHLW PHKU GHU NUDQNH ,SSROLW ZDU PLWWOHUZHLOH VR JXW HV JLQJ LQ GLH 'URVFKNH JHSDFNW ZRUGHQ XQG GLHVH IXKU JHUDGH DE ª1XQ ZLUG GDV QRFK ODQJH GDXHUQ ,ZDQ )MRGRURZLWVFK" :LH GHQNHQ 6LH GDUEHU" :HUGH LFK QRFK ODQJH YRQ GLHVHQ E|VHQ %XEHQ ]X OHLGHQKDEHQ"© ª-DOLHEH )UDXLFK LFK ELQ QDWUOLFK EHUHLW XQGGHU)UVW© ,ZDQ)MRGRURZLWVFKVWUHFNWHGHQQRFKGHP)UVWHQGLH+DQG KLQ OLHI DEHU RKQH GD HV ]X HLQHP +lQGHGUXFN JHNRPPHQ ZlUH KLQWHU /LVDZHWD 3URNRIMHZQD KHU GLH JHUlXVFKYROO XQG ]RUQLJGLH6WXIHQYRUGHU9HUDQGDKLQXQWHUVWLHJ$GHODLGDLKU %UlXWLJDPXQG$OH[DQGUDYHUDEVFKLHGHWHQVLFKIUHXQGOLFKXQG KHU]OLFK YRP )UVWHQ -HZJHQLM 3DZORZLWVFK PDFKWH HV HEHQVR HU ZDU GHU HLQ]LJH GHU VLFK LQ KHLWHUHU 6WLPPXQJ EHIDQGª(VLVWVRJHJDQJHQZLHLFKHVPLUJHGDFKWKDWWH1XU VFKDGH GD DXFK 6LH $UPHU GDEHL ]X OHLGHQ JHKDEW KDEHQ© IOVWHUWH HU PLW GHP OLHEHQVZUGLJVWHQ /lFKHOQ $JODMD JLQJ ZHJRKQHVLFK]XYHUDEVFKLHGHQ $EHU GLH (UHLJQLVVH GLHVHV $EHQGV ZDUHQ GDPLW QRFK QLFKW ]XLKUHP(QGHJHODQJW/LVDZHWD3URNRIMHZQDVROOWHQRFKHLQH K|FKVW XQHUZDUWHWH %HJHJQXQJ HUOHEHQ 6LH ZDU QRFK QLFKW JDQ] GLH 6WXIHQ QDFK GHP :HJ GHU VLFK XP GHQ 3DUN KHUXP]RJKLQXQWHUJHVWLHJHQDOVHLQHHOHJDQWH(TXLSDJHHLQH PLW ]ZHL 6FKLPPHOQ EHVSDQQWH .DOHVFKH DP /DQGKDXV GHV )UVWHQ YRUEHLUROOWH ,Q GHP :DJHQ VDHQ ]ZHL VFK|Q JHNOHLGHWH 'DPHQ $EHU DOV GHU :DJHQ NDXP ]HKQ 6FKULWWH YRUEHLJHIDKUHQ ZDU KLHOW HU SO|W]OLFK DQ HLQH GHU 'DPHQ ZHQGHWHVLFKVFKQHOOXPDOVREVLHSO|W]OLFKHLQHQ%HNDQQWHQ HUEOLFNW KlWWH PLW GHP VLH QRWZHQGLJ VSUHFKHQ PWH
ª-HZJHQLM3DZO\WVFK%LVWGXHV"ULHIHLQHZRKOW|QHQGHKHOOH 6WLPPH EHL GHUHQ .ODQJ GHU )UVW XQG YLHOOHLFKW VRQVW QRFK MHPDQG ]XVDPPHQIXKU ª:LH IUHXH LFK PLFK GD LFK GLFK HQGOLFK JHIXQGHQ KDEH ,FK KDWWH HLQHQ H[SUHVVHQ %RWHQ DQ GLFK QDFK GHU 6WDGW JHVFKLFNW XQG GDQQ HLQHQ ]ZHLWHQ 'HQ JDQ]HQ7DJKDEHQVLHGLFKJHVXFKW© -HZJHQLM3DZORZLWVFKVWDQGDXIGHQ7UHSSHQVWXIHQZLHYRP 'RQQHU JHUKUW /LVDZHWD 3URNRIMHZQD ZDU HEHQIDOOV VWHKHQJHEOLHEHQ DEHU QLFKW LQ VWDUUHP 6FKUHFN ZLH -HZJHQLM 3DZORZLWVFK VLH VFKDXWH GLH GUHLVWH 'DPH HEHQVR VWRO] XQG PLW GHUVHOEHQ NDOWHQ 9HUDFKWXQJ DQ ZLH IQI 0LQXWHQ YRUKHU GLH ª-DPPHUPHQVFKHQ© XQG ZDQGWH GDQQ LKUHQ IRUVFKHQGHQ %OLFN VRIRUW QDFK -HZJHQLM 3DZORZLWVFK ª(LQH 1HXLJNHLW© IXKUGLHKHOOH6WLPPHIRUWª:HJHQGHU.XSIHUVFKHQ:HFKVHO NDQQVWGXXQEHVRUJWVHLQ5RJRVKLQKDWVLHIUGUHLLJWDXVHQG 5XEHODXIJHNDXIWLFKKDEHLKQGD]XEHUUHGHW:HQLJVWHQVIU GUHL 0RQDWH NDQQVW GX EHUXKLJW VHLQ 8QG PLW %LVNXS XQG GLHVHUJDQ]HQ%DQGHZHUGHQZLUXQVJHZLHLQLJHQDXI*UXQG XQVHUHUDOWHQ%HNDQQWVFKDIW1XQGXVLHKVWDOVRHVVWHKWDOOHV JXW)UHXHGLFK%LVPRUJHQ© 'LH (TXLSDJH VHW]WH VLFK ZLHGHU LQ %HZHJXQJ XQG YHUVFKZDQG VFKQHOO ª'DV LVW HLQH ,UUVLQQLJH© ULHI -HZJHQLM 3DZORZLWVFKHQGOLFKHUZDUYRU(QWUVWXQJJDQ]URWJHZRUGHQ XQG EOLFNWH HUVWDXQW ULQJV XP VLFK ª,FK YHUVWHKH NHLQ :RUW YRQGHPZDVVLHJHVDJWKDW:DVVROOHQGDVIU:HFKVHOVHLQ" :HULVWGLH3HUVRQ"© /LVDZHWD 3URNRIMHZQD VDK LKQ QRFK HLQ SDDU 6HNXQGHQ DQ GDQQ GUHKWH VLH VLFK NXU] XP XQG JLQJ VFKQHOO QDFK LKUHP /DQGKDXV GLH DQGHUQ IROJWHQ LKU (LQHQ $XJHQEOLFN GDUDXI NHKUWH -HZJHQLM 3DZORZLWVFK LQ JURHU $XIUHJXQJ ZLHGHU ]X GHP)UVWHQLQGLH9HUDQGD]XUFN ª)UVWVDJHQ6LHPLUGLH :DKUKHLW ZLVVHQ 6LH QLFKW ZDV GDV ]X EHGHXWHQ KDW"© ª,FK ZHLQLFKWVGDYRQ©DQWZRUWHWHGHU)UVWGHUVLFKHEHQIDOOVLQ HLQHU XQJHZ|KQOLFKHQ XQG NUDQNKDIWHQ $XIUHJXQJ EHIDQG
ª1HLQ"© ª1HLQ© ª8QG LFK ZHL DXFK QLFKWV GDYRQ© VDJWH -HZJHQLM 3DZORZLWVFK SO|W]OLFK DXIODFKHQG ª%HL *RWW LFK KDEH PLW GLHVHQ :HFKVHOQ QLFKWV ]X VFKDIIHQ JODXEHQ 6LH PHLQHP (KUHQZRUW ± $EHU ZDV LVW PLW ,KQHQ" )DOOHQ 6LH LQ 2KQPDFKW"© ª2QHLQQHLQLFKYHUVLFKHUH ,KQHQ HV LVW QLFKWV ©
;, (UVWDPGULWWHQ7DJHHUEDUPWHQ-HSDQWVFKLQVVLFKGHV)UVWHQ XQG YHU]LHKHQ LKP YROOVWlQGLJ 2EJOHLFK GHU )UVW VLFK QDFK VHLQHU *HZRKQKHLW YLHO 6FKXOG EHLPD XQG LQ YROOHP (UQVW HLQH6WUDIHHUZDUWHWHVRZDUHUGRFKYRQYRUQKHUHLQLQQHUOLFK Y|OOLJ GDYRQ EHU]HXJW GD /LVDZHWD 3URNRIMHZQD LKP QLFKW DOO]XVHKU ]UQHQ NRQQWH XQG LQ GHU +DXSWVDFKH QXU DXI VLFK VHOEVW E|VH ZDU 'DKHU ZDU HU DP GULWWHQ 7DJH GXUFK GLH XQHUZDUWHW ODQJH 'DXHU GHU )HLQGVFKDIW LQ HLQH VHKU WUEH UDWORVH 6WLPPXQJ YHUVHW]W 'D]X KDWWHQ DXFK QRFK DQGHUH 8PVWlQGH EHLJHWUDJHQ XQG HLQHU YRQ LKQHQ LQ EHVRQGHUV KRKHP *UDGH 'LHVHU HLQH 8PVWDQG KDWWH ZlKUHQG GHU GUHL 7DJHIULKQLQIROJHVHLQHVPLWUDXLVFKHQ:HVHQVLPPHUPHKU DQ%HGHXWXQJJHZRQQHQ'HU)UVWEHVFKXOGLJWHVLFKQlPOLFK VHLW HLQLJHU =HLW ]ZHLHU IHKOHUKDIWHU ([WUHPH HLQHU EHUPlLJHQ ªVLQQORVHQ DXIGULQJOLFKHQ© =XWUDXOLFKNHLW XQG JOHLFK]HLWLJ HLQHV ªILQVWHUHQ XQZUGLJHQ© 0LWUDXHQV .XU] DP (QGH GHV GULWWHQ 7DJHV KDWWH GDV (UOHEQLV PLW GHU H[]HQWULVFKHQ 'DPH GLH DXV LKUHU .XWVFKH PLW -HZJHQLM 3DZORZLWVFK JHVSURFKHQ KDWWH LQ VHLQHP .RSI JDQ] UlWVHOKDIWH EHlQJVWLJHQGH 'LPHQVLRQHQ DQJHQRPPHQ 'HU .HUQSXQNW GHV 5lWVHOV DEJHVHKHQ YRQ DQGHUHQ 6HLWHQ GHU
$QJHOHJHQKHLW EHVWDQG IU GHQ )UVWHQ LQ GHU EHWUEOLFKHQ )UDJHREHUDXFKDQGLHVHUQHXHQª8QJHKHXHUOLFKNHLW©6FKXOG VHLRGHUQXU$EHUHUOLHXQDXVJHVSURFKHQ ZHUGDEHLQRFK LQ%HWUDFKWNDP:DVGLH%XFKVWDEHQ1)%DQODQJWHVRZDU GDV QDFK VHLQHU $QVFKDXXQJ QXU XQVFKXOGLJHU 0XWZLOOH UHLQ NLQGOLFKHU0XWZLOOH VR GD HV LKP OLHGHUOLFK XQG LQ JHZLVVHU +LQVLFKW VRJDU XQHKUHQKDIW HUVFKLHQ GDUEHU OlQJHU QDFK]XGHQNHQ *OHLFKDPHUVWHQ7DJHQDFKGHPKlOLFKHQ$EHQGDQGHVVHQ XQJHK|ULJHQ 9RUJlQJHQ HU GLH ª+DXSWVFKXOG© WUXJ KDWWH GHU )UVWDP9RUPLWWDJGDV9HUJQJHQGHQ )UVWHQ6FKWVFKXQG $GHODLGD LQ VHLQHU :RKQXQJ ]X HPSIDQJHQ VLH ZDUHQ QDFK LKUHU $QJDEH KDXSWVlFKOLFK JHNRPPHQ XP VLFK QDFK VHLQHP %HILQGHQ]XHUNXQGLJHQXQG]ZDUEHIDQGHQVLHVLFKDXIHLQHP 6SD]LHUJDQJH]X]ZHLHQ$GHODLGDKDWWHVRHEHQLP3DUNHLQHQ %DXP EHPHUNW HLQHQ ZXQGHUYROOHQ DOWHQ %DXP PLW ODQJHQ JHNUPPWHQ bVWHQ JDQ] PLW MXQJHP JUQHP /DXE EHGHFNW PLW HLQHU +|KOXQJ XQG HLQHP 6SDOW VLH KDWWH VLFK IHVW JDQ] IHVWYRUJHQRPPHQGLHVHQ%DXP]XPDOHQ6RVSUDFKVLHGHQQ GLH JDQ]H KDOEH 6WXQGH GLH LKU %HVXFK GDXHUWH IDVW QXU KLHUYRQ )UVW 6FKWVFK ZDU ZLH JHZ|KQOLFK QHWW XQG OLHEHQVZUGLJIUDJWHGHQ)UVWHQQDFKZHLWHU]XUFNOLHJHQGHQ 'LQJHQXQGHUZlKQWHHLQLJH8PVWlQGHDXVGHU=HLWLKUHUHUVWHQ %HNDQQWVFKDIW VR GD YRQ GHQ (UHLJQLVVHQ GHV YRUKHU JHKHQGHQ 7DJHV IDVW JDU QLFKW JHVSURFKHQ ZXUGH (QGOLFK NRQQWH VLFK $GHODLGD QLFKW PHKU EHKHUUVFKHQ XQG JHVWDQG OlFKHOQG GD VLH LQFRJQLWR KHUJHNRPPHQ VHLHQ DEHU GDPLW ZDU DXFK GDV %HNHQQWQLV ]X (QGH REZRKO VFKRQ DXV GLHVHP LQFRJQLWR ]X HUVHKHQ ZDU GD GLH (OWHUQ GDV KHLW EHVRQGHUV /LVDZHWD 3URNRIMHZQD VLFK LQ HLQHU JHZLVVHQ 0LVWLPPXQJ EHIDQGHQ $EHU ZHGHU YRQ LKU QRFK YRQ $JODMD QRFK VHOEVW YRQ ,ZDQ )MRGRURZLWVFK VDJWHQ $GHODLGD XQG )UVW 6FKWVFK EHL LKUHP %HVXFK HLQ 6WHUEHQVZ|UWFKHQ $OV VLH ZLHGHU IRUWJLQJHQ XP LKUHQ 6SD]LHUJDQJ IRUW]XVHW]HQ OXGHQ VLH GHQ
)UVWHQ QLFKW HLQ VLFK LKQHQ DQ]XVFKOLHHQ (LQH $XIIRUGHUXQJ GRFK ]X LKQHQ LQ LKUH :RKQXQJ ]X NRPPHQ IDQG DXFK QLFKW HLQPDO DQGHXWXQJVZHLVH VWDWW LQ GLHVHU +LQVLFKW OLH VLFK $GHODLGD VRJDU HLQH VHKU EH]HLFKQHQGH :HQGXQJ HQWVFKOSIHQ VLH HU]lKOWH YRQ HLQHP $TXDUHOO GDV VLH JHPDOW KDWWH XQG lXHUWH GHQ OHEKDIWHQ :XQVFK HV GHP )UVWHQ ]X ]HLJHQ ª:LH N|QQWHQ ZLU GDV QXU P|JOLFKVW EDOG PDFKHQ":DUWHQ6LH,FKZHUGHHV,KQHQHQWZHGHUKHXWHQRFK GXUFK.ROMDVFKLFNHQZHQQHU]XXQVNRPPHQVROOWHRGHUHV PRUJHQ VHOEVW KHUEULQJHQ ZHQQ LFK ZLHGHU PLW GHP )UVWHQ VSD]LHUHQJHKH© VR HUOHGLJWH VLH VFKOLHOLFK GLHVH 6FKZLHULJNHLWHUIUHXWGDHVLKUJHOXQJHQZDUGLHVH$XIJDEH LQ HLQHU VR JHVFKLFNWHQ XQG IU DOOH %HWHLOLJWHQ EHTXHPHQ :HLVH ]X O|VHQ (QGOLFK DOV VLH VLFK VFKRQ HPSIDKOHQ IUDJWH )UVW 6FKWVFK DOV RE LKP GDV SO|W]OLFK HLQILHOH ª$FK MD ZLVVHQ 6LH YLHOOHLFKW OLHEHU /HZ 1LNRODMHZLWVFK ZDV GDV IU HLQH 3HUVRQ ZDU GLH JHVWHUQ XQVHUQ -HZJHQLM 3DZO\WVFK DXV GHP :DJHQ DQULHI"© ª'DV ZDU 1DVWDVMD )LOLSSRZQD© DQWZRUWHWHGHU)UVWª+DEHQ6LHGHQQQRFKQLFKWHUIDKUHQGD VLHHVZDU"$EHUZHULKUH%HJOHLWHULQZDUGDVZHLLFKQLFKW© ª-D-DLFKKDEHHVJHK|UW©VDJWH)UVW6FKWVFKª$EHUZDV EHGHXWHWH GDV ZDV VLH LKP ]XULHI" ,FK PX JHVWHKHQ GDV LVW PLUHLQUHLQHV5lWVHOPLUXQGGHQDQGHUQ© )UVW6FKWVFKVSUDFKPLWDXHURUGHQWOLFKHURIIHQVLFKWOLFKHU 9HUZXQGHUXQJª6LHKDWYRQ:HFKVHOQ-HZJHQLM3DZORZLWVFKV JHVSURFKHQ© HUZLGHUWH GHU )UVW VFKOLFKW ªGLH 5RJRVKLQ DXI LKUH%LWWHYRQHLQHP:XFKHUHUHUZRUEHQKDEHXQGKDWJHVDJW 5RJRVKLQ ZHUGH PLW -HZJHQLM 3DZORZLWVFK *HGXOG KDEHQ© ª'DV KDEH LFK JHK|UW GDV KDEH LFK JHK|UW PHLQ WHXUHU )UVW DEHU GDV LVW MD GRFK XQP|JOLFK -HZJHQLM 3DZORZLWVFK KDW NHLQH :HFKVHO DXVJHVWHOOW GDV LVW XQP|JOLFK %HL HLQHP VROFKHQ 9HUP|JHQ $OOHUGLQJV LVW HV LKP IUKHU HLQPDO DXV /HLFKWVLQQ EHJHJQHW XQG LFK KDEH LKP VRJDU VHOEVW DXV GHU .OHPPHJHKROIHQ$EHUEHLHLQHPVROFKHQ9HUP|JHQHLQHP
:XFKHUHU :HFKVHO DXV]XVWHOOHQ XQG VLFK GHVZHJHQ ]X EHXQUXKLJHQ GDV LVW HLQ 'LQJ GHU 8QP|JOLFKNHLW $XFK NDQQ HU VLFK QLFKW PLW 1DVWDVMD )LOLSSRZQD GX]HQ XQG LQ VROFKHQ IUHXQGVFKDIWOLFKHQ %H]LHKXQJHQ ]X LKU VWHKHQ ± GDV LVW GDV DOOHUJU|WH 5lWVHO (U VFKZ|UW HU YHUVWHKH YRQ GHU JDQ]HQ *HVFKLFKWH JDUQLFKWV XQG LFK JODXEH LKP YROONRPPHQ $EHU LFKZROOWHGRFKDXFK6LHOLHEHU)UVWIUDJHQRE6LHYLHOOHLFKW HWZDVGDYRQZLVVHQ,FKPHLQHLVWYLHOOHLFKWGXUFKLUJHQGHLQHQ ZXQGHUOLFKHQ =XIDOO HLQ *HUFKW ]X ,KUHQ 2KUHQ JHODQJW"© ª1HLQ LFK ZHL QLFKWV XQG LFK YHUVLFKHUH ,KQHQ GD LFK DQ GHU6DFKHLQNHLQHU:HLVHEHWHLOLJWELQ©ª$FKZLHZXQGHUOLFK UHGHQ 6LH GD )UVW ,FK HUNHQQH 6LH KHXWH JDU QLFKW ZLHGHU .RQQWH LFK GHQQ EHUKDXSW DXI GHQ *HGDQNHQ NRPPHQ GD 6LH DQ HLQHU GHUDUWLJHQ 6DFKH EHWHLOLJW VHLHQ" 1D 6LH VLQG KHXWHDQJHJULIIHQ© (U XPDUPWH XQG NWH LKQ ª:DV PHLQHQ 6LH GHQQ PLW ¾DQ HLQHU GHUDUWLJHQ 6DFKH EHWHLOLJW"½ ,FK VHKH KLHU NHLQH ¾GHUDUWLJH½6DFKH©ª2KQH=ZHLIHOEHDEVLFKWLJWHGLHVH3HUVRQ XQVHUP-HZJHQLM3DZORZLWVFKLUJHQGZLHXQGEHLLUJHQGHWZDV GDGXUFK KLQGHUOLFK ]X VHLQ GD VLH LKP YRU =HXJHQ (LJHQVFKDIWHQ EHLOHJWH GLH HU QLFKW EHVLW]W XQG QLFKW EHVLW]HQ NDQQ© YHUVHW]WH )UVW 6FKWVFK LQ ]LHPOLFK WURFNHQHP 7RQ )UVW/HZ1LNRODMHZLWVFKZXUGHYHUOHJHQIXKUDEHUGRFKIRUW GHQ)UVWHQ6FKWVFKXQYHUZDQGWXQGIUDJHQGDQ]XVHKHQDEHU GLHVHUVFKZLHJª.|QQWHQHVQLFKWGRFKHLQIDFK:HFKVHOVHLQ" .|QQWH HV VLFK QLFKW EXFKVWlEOLFK VR YHUKDOWHQ ZLH JHVWHUQ JHVDJW ZXUGH"© PXUPHOWH )UVW 0\VFKNLQ HQGOLFK ZLH XQJHGXOGLJª$EHULFKELWWH6LHVDJHQ6LHVHOEVWZDVNDQQHV ]ZLVFKHQ-HZJHQLM3DZO\WVFKXQGLKU*HPHLQVDPHV JHEHQ REHQGUHLQ ZHQQ GDEHL QRFK 5RJRVKLQ LP 6SLHO LVW" ,FK ZLHGHUKROH,KQHQHUEHVLW]WHLQNRORVVDOHV9HUP|JHQZLHPLU JDQ]JHQDXEHNDQQWLVWXQGHLQ]ZHLWHV9HUP|JHQKDWHUYRQ VHLQHP2QNHO]XHUZDUWHQ1DVWDVMD)LOLSSRZQDKDWHLQIDFK© )UVW6FKWVFKYHUVWXPPWHSO|W]OLFKZLHGHUDXJHQVFKHLQOLFK
ZHLO HU GHP )UVWHQ 0\VFKNLQ QLFKWV ZHLWHU EHU 1DVWDVMD )LOLSSRZQD VDJHQ PRFKWH ª-HGHQIDOOV LVW VLH GRFK PLW LKP EHNDQQW"© IUDJWH SO|W]OLFK )UVW /HZ 1LNRODMHZLWVFK QDFK NXU]HP6WLOOVFKZHLJHQª(VVFKHLQWDOOHUGLQJVGDGDVHLQPDO GHU)DOOJHZHVHQLVWHULVWHLQ:LQGKXQG:HQQHVEULJHQVVR JHZHVHQLVWGDQQLVWHVVFKRQODQJHKHUHVPWHLQIUKHUHU =HLW JHZHVHQ VHLQ YRU ]ZHL GUHL -DKUHQ (U ZDU MD QRFK PLW 7R]NLM EHNDQQW -HW]W DEHU NDQQ QLFKWV YRQ GHU $UW YRUOLHJHQ XQG¾GX½ N|QQHQ VLH QLHPDOV ]XHLQDQGHU JHVDJW KDEHQ 6LH ZLVVHQMDVHOEVWGDDXFKVLHGLHJDQ]H=HLWQLFKWKLHUJHZHVHQ LVW XQG LKU $XIHQWKDOWVRUW XQEHNDQQW ZDU 9LHOH ZLVVHQ DXFK MHW]W QRFK QLFKW GD VLH ZLHGHU KLHU HUVFKLHQHQ LVW ,FK KDEH LKUH(TXLSDJHYRUGUHL7DJHQ ]XP HUVWHQPDO JHVHKHQ© ª(LQH SUlFKWLJH(TXLSDJH©EHPHUNWH$GHODLGDª-DZXQGHUYROO© %HLGH EUDFKWHQ EULJHQV EHLP )RUWJHKHQ GHP )UVWHQ /HZ 1LNRODMHZLWVFK LKUH GXUFKDXV IUHXQGVFKDIWOLFKH MD VR]XVDJHQ JHVFKZLVWHUOLFKH*HVLQQXQJ]XP$XVGUXFN $EHU IU XQVHUHQ +HOGHQ ZDU GLHVHU %HVXFK YRQ JHUDGH]X HQWVFKHLGHQGHU %HGHXWXQJ $OOHUGLQJV KDWWH HU DXFK VHOEVW VFKRQ VHLW GHP YRUKHUJHKHQGHQ $EHQG YLHOOHLFKW DXFK VFKRQ QRFK IUKHU JDU YLHOHV JHDUJZ|KQW DEHU ELV ]X GLHVHP %HVXFK KDWWH HU VLFK QLFKW GD]X HQWVFKOLHHQ P|JHQ VHLQH %HIUFKWXQJHQ IU EHJUQGHW ]X KDOWHQ -HW]W DEHU ZDU DOOHV NODUJHZRUGHQ )UVW 6FKWVFK GHXWHWH GHQ 9RUIDOO JHZL LUULJ NDPMHGRFKLQVRIHUQGHU:DKUKHLWQDKH DOV HU EHJULII GD HV VLFK KLHU XP HLQH ,QWULJH KDQGHOWH hEULJHQV½ GDFKWH GHU )UVW ¾IDW HU GLH 6DFKH YLHOOHLFKW LP VWLOOHQ JDQ] ULFKWLJ DXI ZLOOHVDEHUQLFKWDXVVSUHFKHQXQGGHXWHWVLHGDUXPDEVLFKWOLFK LUULJ½ $P DOOHUNODUVWHQ ZDU GD GLH EHLGHQ EHVRQGHUV )UVW 6FKWVFK MHW]W ]X LKP JHNRPPHQ ZDUHQ ZHLO VLH JHKRIIW KDWWHQYRQLKPLUJHQGZHOFKH$XINOlUXQJHQ]XHUODQJHQZHQQ GHP VR ZDU VR PHLQWHQ VLH RIIHQEDU HU VHL DQ GHU ,QWULJH PLWEHWHLOLJW :HQQ VLFK IHUQHU DOO GLHV VR YHUKLHOW XQG YRQ VROFKHU :LFKWLJNHLW ZDU VR PXWH VLH LUJHQGHLQ IXUFKWEDUHV
=LHO LP $XJH KDEHQ DEHU ZDV ZDU GDV IU HLQ =LHO" (QWVHW]OLFK¾8QG ZLH VROO PDQ VLH DXIKDOWHQ" 6LH DXI]XKDOWHQ JLEW HV NHLQH 0|JOLFKNHLW ZHQQ VLH VLFK HLQPDO HWZDV LQ GHQ .RSI JHVHW]W KDW½ 'DV ZXWH GHU )UVW DXV (UIDKUXQJ¾6LH LVW HLQH,UUVLQQLJHHLQH,UUVLQQLJH½ $EHUHVNDPHQDQGLHVHP0RUJHQQRFKHLQH0HQJHDQGHUHU VFKZLHULJHU )UDJHQ KLQ]X GLH DOOH JOHLFK]HLWLJ DXI LKQ HLQVWUPWHQXQGVRIRUWLJH(QWVFKHLGXQJYHUODQJWHQVRGDGHU )UVW LQ UHFKW WUEH 6WLPPXQJ JHULHW (LQ ZHQLJ =HUVWUHXXQJ YHUVFKDIIWH LKP :HUD /HEHGHZD GLH PLW GHU NOHLQHQ /MXERWVFKND DXI GHP $UP ]X LKP NDP XQG LKP XQWHU YLHOHP /DFKHQOlQJHUH =HLW HWZDV HU]lKOWH ,KU IROJWH LKUH 6FKZHVWHU GLH LPPHU GHQ 0XQG VR ZHLW DXIUL XQG EHLGHQ IROJWH GDQQ /HEHGHZV 6RKQ GHU *\PQDVLDVW GHU YHUVLFKHUWH GHU ª:HUPXWVWHUQ© LQGHU$SRNDO\SVH GHU DXI GLH :DVVHUTXHOOHQ GHU (UGH JHIDOOHQ VHL VHL QDFK GHU 'HXWXQJ VHLQHV 9DWHUV GDV (LVHQEDKQQHW] ZHOFKHV (XURSD EHGHFNH 'HU )UVW JODXEWH QLFKW UHFKW GD /HEHGHZ HV VR HUNOlUW KDEH XQG VLH QDKPHQ VLFK YRU LKQ VHOEVW EHL GHU HUVWHQ SDVVHQGHQ *HOHJHQKHLW GDQDFK ]X IUDJHQ 9RQ :HUD /HEHGHZD HUIXKU GHU )UVW GD .HOOHU VLFK EHL LKQHQ VHLW JHVWHUQ HLQTXDUWLHUW KDEH XQG QDFK DOOHQ $Q]HLFKHQ ]X XUWHLOHQ VR EDOG QLFKW ZLHGHU IRUWJHKHQ ZHUGH GHQQ HU KDEH KLHU DQ *HQHUDO ,ZROJLQ *HVHOOVFKDIW JHIXQGHQ XQG PLW LKP )UHXQGVFKDIW JHVFKORVVHQ HU KDEH EULJHQVHUNOlUWHUEOHLEHHLQ]LJXQGDOOHLQXPVHLQH%LOGXQJ ]XYHUYROOVWlQGLJHQhEHUKDXSWJHILHOHQ/HEHGHZV.LQGHUGHP )UVWHQYRQ7DJ]X7DJPHKU.ROMDZDUGHQJDQ]HQ7DJQLFKW DQZHVHQGHUKDWWHVLFKJDQ]IUKDP0RUJHQQDFK3HWHUVEXUJ EHJHEHQ$XFK /HEHGHZZDUEHLP0RUJHQJUDXHQLQHLJHQHQ *HVFKlIWHQ ZHJJHIDKUHQ $EHU GHU )UVW ZDUWHWH XQJHGXOGLJ DXI HLQHQ %HVXFK *DZULOD $UGDOLRQRZLWVFKV GHU XQEHGLQJW KHXWHEHLLKPYRUVSUHFKHQPXWH (U NDP ]ZLVFKHQ VHFKV XQG VLHEHQ 8KU QDFKPLWWDJV JOHLFK QDFK 7LVFK 6RZLH GHU )UVW LKQ HUEOLFNWH NDP LKP GHU
*HGDQNH ZHQQ MHPDQG VR PVVH GLHVHU +HUU GHQ JDQ]HQ =XVDPPHQKDQJKDDUNOHLQXQGRKQH(QWVWHOOXQJNHQQHQHVVHL MD JDU QLFKW DQGHUV P|JOLFK GD HU VROFKH *HKLOIHQ ZLH :DUZDUD $UGDOLRQRZLWVFK XQG LKUHQ 0DQQ KDEH $EHU GDV 9HUKlOWQLVGHV)UVWHQ]X*DQMDZDUYRQJDQ]EHVRQGHUHU$UW 'HU )UVW KDWWH LKP ]XP %HLVSLHO GLH (UOHGLJXQJ GHU %XUGRZVNLMVFKHQ $QJHOHJHQKHLW DQYHUWUDXW XQG LKQ GULQJHQG GDUXP JHEHWHQ DEHU XQJHDFKWHW GHV LKP KLHUEHL EH]HLJWHQ 9HUWUDXHQV XQG WURW] PDQFKHP ZDV YRUKHUJHJDQJHQ ZDU EOLHEHQ ]ZLVFKHQ LKQHQ EHLGHQ GRFK LPPHU QRFK JHZLVVH 3XQNWH EHVWHKHQ EHU GLH VLH ZLH QDFK 9HUHLQEDUXQJ QLFKW PLWHLQDQGHU VSUDFKHQ (V VFKLHQ GHP )UVWHQ PDQFKPDO GD *DQMD YLHOOHLFKW VHLQHUVHLWV GHQ :XQVFK KHJWH HV P|JH GRFK ]ZLVFKHQ LKQHQ EHLGHQ GLH YROOVWH IUHXQGVFKDIWOLFKVWH $XIULFKWLJNHLWKHUUVFKHQ MHW]W ]XP %HLVSLHO XQPLWWHOEDU QDFK *DQMDV(LQWULWWKDWWHGHU)UVWGHQ(LQGUXFNDOVVHL*DQMDGHU EHVWLPPWHQ hEHU]HXJXQJ LQ GLHVHP $XJHQEOLFN PVVH QRWZHQGLJHUZHLVH ]ZLVFKHQ LKQHQ LQ DOOHQ 3XQNWHQ GDV (LV EUHFKHQ *DZULOD $UGDOLRQRZLWVFK KDWWH HV MHGRFK HLOLJ LQ /HEHGHZV:RKQXQJHUZDUWHWHLKQVHLQH6FKZHVWHU VLH KDWWHQ EHLGH]XVDPPHQHLQHGULQJHQGHJHVFKlIWOLFKH%HVRUJXQJYRU $EHU ZHQQ *DQMD ZLUNOLFK HLQH JDQ]H 5HLKH XQJHGXOGLJHU )UDJHQ IUHLZLOOLJHU 0LWWHLOXQJHQ XQG VR IUHXQGVFKDIWOLFKHU +HU]HQVHUJLHXQJHQ HUZDUWHW KDEHQ VROOWH VR KDWWH HU VLFK QDWUOLFK VHKU JHLUUW :lKUHQG GHU JDQ]HQ ]ZDQ]LJ 0LQXWHQ GLHVHLQ%HVXFKGDXHUWHZDUGHU)UVWLQ*HGDQNHQYHUVXQNHQ XQG XQDXIPHUNVDP XQG HV ILHO LKP JDU QLFKW HLQ GLH YLHOHQ )UDJHQ RGHU ULFKWLJHU JHVDJW GLH HLQH ZLFKWLJH )UDJH ]X VWHOOHQ DXI GLH *DQMD ZDUWHWH 'D HQWVFKLHG VLFK DXFK *DQMD GDIU PLW JU|WHU =XUFNKDOWXQJ ]X VSUHFKHQ (U HU]lKOWH GLH JDQ]HQ]ZDQ]LJ0LQXWHQRKQHHLQH3DXVHHLQWUHWHQ]XODVVHQ GLHVHV XQG MHQHV ODFKWH IKUWH HLQH OHLFKWH QHWWH PXQWHUH .RQYHUVDWLRQEHUKUWHDEHUQLFKWGHQ+DXSWSXQNW *DQMD EHULFKWHWH XQWHU DQGHUP 1DVWDVMD )LOLSSRZQD VHL HUVW
VHLW YLHU 7DJHQ KLHU LQ 3DZORZVN ]LHKH DEHU EHUHLWV GLH DOOJHPHLQH $XIPHUNVDPNHLW DXI VLFK 6LH ZRKQH LQ GHU 0DWURVVNDMD6WUDHLQHLQHPNOHLQHQXQI|UPLJHQ+lXVFKHQEHL 'DUMD $OH[HMHZQD KDEH DEHU EHLQDK GLH IHLQVWH (TXLSDJH LQ JDQ] 3DZORZVN (V KDEH VLFK EHUHLWV HLQH JDQ]H 6FKDU DOWHU XQG MXQJHU 9HUHKUHU XP VLH JHVDPPHOW LKUH (TXLSDJH ZHUGH PDQFKPDOYRQ5HLWHUQEHJOHLWHW1DVWDVMD )LOLSSRZQDVHLZLH LQ IUKHUHQ =HLWHQ VHKU ZlKOHULVFK XQG JHVWDWWH QXU HLQHU $XVOHVH VLFK LKU ]X QlKHUQ 'HQQRFK DEHU KDEH VLFK XP VLH HLQH JDQ]H /HLEJDUGH JHELOGHW DXI GHUHQ 6FKXW] VLH VLFK LP 1RWIDOO YHUODVVHQ N|QQH (LQ 9HUOREWHU XQWHU GHQ 6RPPHUIULVFKOHUQ VHL EHUHLWV XP LKUHWZLOOHQ PLW VHLQHU %UDXW ]HUIDOOHQHLQDOWHU*HQHUDOKDEHEHLQDKVHLQHQ6RKQYHUIOXFKW 6LHQHKPHDXILKUHQ6SD]LHUIDKUWHQRIWHLQUHL]HQGHVHEHQHUVW VHFK]HKQMlKULJHV 0lGFKHQ PLW HLQH HQWIHUQWH 9HUZDQGWH 'DUMD $OH[HMHZQDV GLHVHV 0lGFKHQ VLQJH ZXQGHUVFK|Q VR GD DEHQGV LKU +lXVFKHQ GLH $XIPHUNVDPNHLW DXI VLFK ]LHKH 1DVWDVMD)LOLSSRZQDEHQHKPHVLFKEULJHQV K|FKVW DQVWlQGLJ VLHNOHLGHVLFKQLFKWOX[XUL|VDEHUDXHURUGHQWOLFKJHVFKPDFN YROO XQG DOOH 'DPHQ VHLHQ ZHJHQ LKUHV *HVFKPDFNV LKUHU 6FK|QKHLW XQG LKUHU (TXLSDJH DXI VLH QHLGLVFK ª,KU JHVWULJHV DXIIlOOLJHV %HQHKPHQ© YHUSODSSHUWH VLFK *DQMD ªZDU QDWUOLFK YRUKHU EHUOHJW XQG GDUI VHOEVWYHUVWlQGOLFK QLFKW LQ 5HFKQXQJJHVWHOOWZHUGHQ8PLKUHWZDVDP=HXJH]XIOLFNHQ PWH PDQ VLH VFKRQ DEVLFKWOLFK EHODXHUQ RGHU YHUOHXPGHQ ZDV EULJHQV QLFKW ODQJH DXVEOHLEHQ ZLUG© VFKOR *DQMD XQG HUZDUWHWH QXQ GD GHU )UVW MHW]W XQEHGLQJW IUDJHQ ZHUGH ZDUXP HU LKU JHVWULJHV 9HUKDOWHQ HLQ YRUKHU EHUOHJWHV QHQQH XQG ZDUXP GLH 9HUOHXPGXQJ QLFKW ODQJH DXVEOHLEHQ ZHUGH $EHU GHU )UVW VWHOOWH GLHVH )UDJHQ QLFKW hEHU -HZJHQLM 3DZORZLWVFK OLH VLFK *DQMD YRQ VHOEVW RKQH GDQDFK JHIUDJW ]X VHLQ DXVIKUOLFK DXV ZDV VHKU VRQGHUEDU ZDU GD HU RKQH MHGHQ lXHUHQ $QOD GDV *HVSUlFK DXI LKQ EUDFKWH 1DFK *DZULOD$UGDOLRQRZLWVFKV$QVLFKWKDWWH-HZJHQLM3DZORZLWVFK
1DVWDVMD )LOLSSRZQD IUKHU QLFKW JHNDQQW HU .HQQH VLH DXFK MHW]W NDXP XQG QXU GDKHU GD HU LKU YRU YLHU 7DJHQ GXUFK LUJHQGMHPDQGDXIGHP6SD]LHUJDQJYRUJHVWHOOWVHLHUVHLDEHU VFKZHUOLFKPLWGHQDQGHUQDXFKQXUHLQHLQ]LJHV0DOEHLLKULP +DXVH JHZHVHQ :DV GLH :HFKVHO DQODQJH VR VHL GLH 6DFKH DOOHUGLQJV P|JOLFK KLHUEHU JODXEWH *DQMD VRJDU =XYHUOlVVLJHV ]X ZLVVHQ -HZJHQLM 3DZORZLWVFK EHVLW]H IUHLOLFK HLQ JURHV 9HUP|JHQ DEHU PDQFKHV DXI VHLQHP *XW VHL WDWVlFKOLFK LQ 8QRUGQXQJ %HL GLHVHP LQWHUHVVDQWHQ 3XQNW EUDFK *DQMD SO|W]OLFK DE hEHU 1DVWDVMD )LOLSSRZQDV DXIIlOOLJHV %HQHKPHQ YRP YRUKHUJHKHQGHQ 7DJ VDJWH HU NHLQ :RUW DXHU GHU IOFKWLJHQ %HPHUNXQJ GLH LKP YRUKHU HQWVFKOSIW ZDU (QGOLFK NDP :DUZDUD $UGDOLRQRZQD XP *DQMD DE]XKROHQ VLH EOLHE HLQHQ $XJHQEOLFN GD WHLOWH HEHQIDOOVXQJHIUDJW PLWGD-HZJHQLM3DZORZLWVFKVLFKKHXWH XQGYLHOOHLFKWDXFKPRUJHQLQ3HWHUVEXUJDXIKDOWHQZHUGHGD LKU 0DQQ ,ZDQ 3HWURZLWVFK 3WL]\Q JOHLFKIDOOV LQ 3HWHUVEXUJ VHL XQG ]ZDU IDVW DXVVFKOLHOLFK LQ JHVFKlIWOLFKHQ $QJHOHJHQKHLWHQ-HZJHQLM 3DZORZLWVFKV XQG GD GD ZLUNOLFK HWZDV SDVVLHUW VHLQ PVVH %HLP :HJJHKHQ IJWH VLH KLQ]X /LVDZHWD 3URNRIMHZQD EHILQGH VLFK KHXWH LQ HLQHU JUlOLFKHQ 6WLPPXQJDEHUZDVGDV6HOWVDPVWHVHL$JODMDKDEHVLFKPLW GHU JDQ]HQ )DPLOLH EHUZRUIHQ QLFKW QXU PLW GHP 9DWHU XQG GHU 0XWWHU VRQGHUQ VRJDU PLW LKUHQ EHLGHQ 6FKZHVWHUQ XQG GDV VHL ªJDQ] XQG JDU QLFKW VFK|Q YRQ LKU© 1DFKGHP VLH DQVFKHLQHQGQXUVREHLOlXILJGHP)UVWHQGLHVHOHW]WHIULKQ EHUDXVEHGHXWVDPH 0LWWHLOXQJJHPDFKWKDWWHHQWIHUQWHQVLFK %UXGHU XQG 6FKZHVWHU 'HU *HVFKLFKWH PLW ª3DZOLVFKWVFKHZV 6RKQ© KDWWH *DQMD PLW NHLQHP :RUW (UZlKQXQJ JHWDQ YLHOOHLFKW DXV IDOVFKHU %HVFKHLGHQKHLW RGHU DXFK ªXP GLH *HIKOH GHV )UVWHQ ]X VFKRQHQ© DEHU GHU )UVW VSUDFK LKP GRFK QRFK HLQPDO IU GLH VRUJVDPH (UOHGLJXQJ GHU $QJHOHJHQKHLWVHLQHQ'DQNDXV 'HU )UVW ZDU VHKU IURK GD VLH LKQ HQGOLFK DOOHLQ JHODVVHQ
KDWWHQ HU VWLHJ YRQ GHU 9HUDQGD KLQDE VFKULWW TXHU EHU GHQ :HJ XQG JLQJ LQ GHQ 3DUN KLQHLQ HU ZROOWH QDFKGHQNHQ XQG EHU HLQHQ ZLFKWLJHQ 6FKULWW LQV NODUH NRPPHQ $EHU GLHVHU ª6FKULWW©ZDUQLFKWHLQHUYRQGHQHQGLHPDQEHUOHJWVRQGHUQ ]X GHQHQ PDQ VLFK RKQH h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lVVLJ VHLVRGDYRQ]XODXIHQGDGDV .OHLQPXWVHLQZUGH GD LKP $XIJDEHQJHVWHOOWVHLHQGHUHQ(UIOOXQJDE]XOHKQHQHUMHW]WLQ NHLQHU :HLVH EHUHFKWLJW VHL GD HU VLFK MHGHQIDOOV QLFKW ZHLJHUQ GUIH ]X LKUHU (UIOOXQJ DOO VHLQH .UlIWH DQ]XVWUHQJHQ 0LW VROFKHQ *HGDQNHQ EHVFKlIWLJW NHKUWH HU QDFK +DXVH ]XUFN QDFKGHP HU NDXP HLQH 9LHUWHOVWXQGH VSD]LHUHQJHJDQJHQ ZDU (U IKOWH VLFK LQ GLHVHP $XJHQEOLFN WLHIXQJOFNOLFK /HEHGHZ ZDU LPPHU KRFK QLFKW ]X +DXVH VR GD JHJHQ $EHQG .HOOHU GLH *HOHJHQKHLW EHQXW]WH ]XP )UVWHQ HLQ]XGULQJHQHUZDU]ZDUQLFKWEHWUXQNHQDEHUVHKU ]X +HU± ]HQVHUJLHXQJHQ XQG %HNHQQWQLVVHQ JHQHLJW (U HUNOlUWH JHUDGHKHUDXV HU VHL JHNRPPHQ XP GHP )UVWHQ VHLQ JDQ]HV /HEHQ ]X HU]lKOHQ XQG VHL VSH]LHOO ]X GLHVHP =ZHFN LQ 3DZORZVN JHEOLHEHQ ,KQ KLQDXV]XMDJHQ ZDU VFKOHFKWHUGLQJV XQP|JOLFKHUZlUHXQWHUNHLQHQ8PVWlQGHQJHJDQJHQ.HOOHU VHW]WH ]X HLQHU VHKU ODQJHQ VHKU DEJHVFKPDFNWHQ (U]lKOXQJ DQ VSUDQJ DEHU JOHLFK YRQ GHQ HUVWHQ :RUWHQ ]XP 6FKOX KLQEHULQGHP HU HUNOlUWH HU KDEH GHUPDHQ ªMHGHQ 6FKDWWHQ
YRQ0RUDOLWlW©YHUORUHQHLQ]LJXQGDOOHLQLQIROJHPDQJHOQGHQ *ODXEHQVDQGLH([LVWHQ]*RWWHV GDHUVRJDUJHVWRKOHQKDEH ª.|QQHQ6LHVLFKGDVYRUVWHOOHQ"©ª+|UHQ6LHPDO.HOOHULFK ZUGH GDV DQ ,KUHU 6WHOOH RKQH EHVRQGHUH 1RW OLHEHU QLFKW EHNHQQHQ© HUZLGHUWH GHU )UVW ª$EHU YLHOOHLFKW ZROOHQ 6LH VLFKDEVLFKWOLFKYHUOHXPGHQ"© ª,KQHQHLQ]LJXQGDOOHLQ,KQHQ VDJH LFK HV XQG HLQ]LJ XQG DOOHLQ XP PHLQH VLWWOLFKH (QWZLFNOXQJ ]X I|UGHUQ .HLQHP DQGHUQ ZHUGH LFK HV VDJHQ LFK ZHUGH PHLQ *HKHLPQLV ZHQQ LFK VWHUEH LQ PHLQHP 7RWHQKHPG PLWQHKPHQ $EHU ZHQQ 6LH ZWHQ )UVW ZHQQ 6LH QXU ZWHQ ZLH VFKZHU HV LQ XQVHUHU =HLW LVW *HOG ]X EHNRPPHQ:RKHUVROOXQVHUHLQHUZHOFKHVQHKPHQZHQQ6LH PLU GLH )UDJH JHVWDWWHQ ZROOHQ ,FK EHNDP LPPHU HLQ XQG GLHVHOEH$QWZRUW¾%ULQJHQ6LHXQV*HOGVDFKHQXQG%ULOODQWHQ DOV 3IDQG GDQQ ZHUGHQ ZLU ,KQHQ *HOG JHEHQ½ $EHU GDV ZDUHQJHUDGHGLH'LQJHGLHLFKQLFKWKDWWH.|QQHQ6LHVLFKVR HWZDVYRUVWHOOHQ",FKZXUGHVFKOLHOLFKlUJHUOLFKLFKVWDQGGD XQG]DXGHUWH¾*HEHQ6LHDXFKIU6PDUDJGH*HOG"½IUDJWHLFK ±-D DXFK IU 6PDUDJGH½ DQWZRUWHWH HU ±¾1XQ GDV LVW MD YRU]JOLFK½ HUZLGHUWH LFK VHW]WH PHLQHQ +XW DXI XQG JLQJ ZHJ KRO HXFK GHU 7HXIHO LKU QLFKWVZUGLJHQ 6FKXUNHQ© ª+DWWHQ 6LH GHQQ 6PDUDJGH"© ª:RKHU KlWWH LFK GHQQ 6PDUDJGHKDEHQVROOHQ"2)UVWZDVKDEHQ6LHQRFKIUHLQH VRQQLJH XQVFKXOGLJH MD VR]XVDJHQ LG\OOLVFKH /HEHQVDQVFKDXXQJ© (V NDP VFKOLHOLFK VR ZHLW GD GHU )UVW LKQ ZHQLJHU EHPLWOHLGHWH DOV YLHOPHKU VLFK IU LKQ VFKlPWH (V JLQJ LKP VRJDUGHU*HGDQNHGXUFKGHQ.RSI¾.|QQWHQLFKWDXVGLHVHP 0HQVFKHQ QRFK HWZDV 2UGHQWOLFKHV ZHUGHQ ZHQQ MHPDQG HLQHQ JXWHQ(LQIOX DXI LKQ DXVEWH"½ 6HLQHQ HLJHQHQ (LQIOX KLHOWHU DXV JHZLVVHQ *UQGHQ IU VHKU XQJHHLJQHW QLFKW ZHLO HU YRQ VLFK VHOEVW ]X JHULQJ JHGDFKW KlWWH VRQGHUQ ZHJHQ VHLQHU EHVRQGHUHQ $UW GLH 'LQJH DQ]XVFKDXHQ $OOPlKOLFK NDPHQVLHEHLGHVR HLIULJLQV*HVSUlFKGDVLHVLFK JDU QLFKW
PHKU YRQHLQDQGHU WUHQQHQ PRFKWHQ .HOOHU EHNDQQWH PLW VHOWHQHU 2IIHQKHU]LJNHLW YRQ VLFK 'LQJH EHL GHQHQ PDQ QLFKW EHJUHLIHQNRQQWHZLHMHPDQGHVIHUWLJEUDFKWHVLH]XHU]lKOHQ -HGHVPDOZHQQHUVLFK]XHLQHUVROFKHQ(U]lKOXQJDQVFKLFNWH YHUVLFKHUWH HU KRFK XQG WHXHU HU HPSILQGH 5HXH XQG VHL ªLQQHUOLFK YROO 7UlQHQ© DEHU WURW]GHP HU]lKOWH HU LQ HLQHU :HLVH DOV VHL HU DXI VHLQ 9HUKDOWHQ VWRO] XQG ]XJOHLFK PDQFKPDOVRNRPLVFKGDHUXQGGHU)UVWVFKOLHOLFKZLHGLH :DKQVLQQLJHQODFKWHQ ª'LH+DXSWVDFKHLVWGD6LHVLFK HLQH NLQGOLFKH=XWUDXOLFKNHLWXQGHLQHJURH$XIULFKWLJNHLWEHZDKUW KDEHQ© VDJWH GHU )UVW HQGOLFK ª:LVVHQ 6LH GD 6LH VFKRQ DOOHLQGDGXUFKVHKUYLHOHVZLHGHUJXWPDFKHQ"©ª-DLFKELQHLQ HGOHU0HQVFKHLQHGOHU0HQVFK HLQULWWHUOLFKHGOHU0HQVFK© EHVWlWLJWH.HOOHUJHUKUWª$EHUZLVVHQ6LH)UVWGDVELQLFK LPPHUQXUZHQQLFKPLFKVRPHLQHQ3KDQWDVLHQEHUODVVHXQG VR]XVDJHQ EHVRQGHUH &RXUDJH KDEH LQ :LUNOLFKNHLW ZLUG QLH HWZDVGDUDXV:LHJHKWGDVQXU]X"0LULVWGDVXQEHJUHLIOLFK© ª9HU]ZHLIHOQ 6LH QLFKW 0DQ NDQQ MHW]W PLW %HVWLPPWKHLW VDJHQ GD 6LH PLU ,KU JDQ]HV ,QQHUHV JH]HLJW KDEHQ ZHQLJVWHQVVFKHLQWPLUGDHVXQP|JOLFKLVW]XGHPZDV6LH HU]lKOW KDEHQ QRFK HWZDV KLQ]X]XIJHQ QLFKW ZDKU"© ª8QP|JOLFK"©ULHI.HOOHUJHZLVVHUPDHQPLWOHLGLJª2)UVW ZLH VFKZHL]HUPlLJ ZHQQ LFK PLFK VR DXVGUFNHQ GDUI EHXUWHLOHQ 6LH GHQ 0HQVFKHQ QRFK© ª6ROOWH HV ZLUNOLFK P|JOLFK VHLQ QRFK HWZDV KLQ]X]XIJHQ"© HUZLGHUWH GHU )UVW PLWVFKFKWHUQHP(UVWDXQHQª$OVRQXQVDJHQ6LHELWWH.HOOHU ZDV 6LH HLJHQWOLFK YRQ PLU ZROOWHQ XQG ZDUXP 6LH PLW ,KUHU %HLFKWH]XPLUJHNRPPHQVLQG©ª:DVLFKZROOWH"9RQ,KQHQ ZROOWH" (UVWHQV LVW HV VFKRQ DOOHLQ HLQ 9HUJQJHQ ,KUH +HU]HQVHLQIDOW DQ]XVHKHQ HV LVW HLQ 9HUJQJHQ VR PLW ,KQHQ ]XVLW]HQXQG]XSODXGHUQLFKZHLZHQLJVWHQVGDLFKHLQHQ K|FKVWWXJHQGKDIWHQ0HQVFKHQYRUPLUKDEH8QG]ZHLWHQV ]ZHLWHQV© (U VWRFNWH ª9LHOOHLFKW ZROOWHQ 6LH *HOG YRQ PLU OHLKHQ"©
KDOILKPGHU)UVWLQJDQ]HUQVWHPVFKOLFKWHPMDVRJDUHWZDV VFKFKWHUQHP 7RQ .HOOHU IXKU RUGHQWOLFK ]XVDPPHQ VFKQHOO XQGLPPHUQRFKHUVWDXQWEOLFNWHHUGHP)UVWHQJHUDGHLQGLH $XJHQXQGVFKOXJNUlIWLJPLWGHU)DXVWDXIGHQ7LVFKª1D6LH EULQJHQ HLQHQ MD JDQ] XQG JDU DXV GHU )DVVXQJ ,FK ELWWH 6LH )UVW HLQHUVHLWV GLHVH +HU]HQVHLQIDOW XQG +DUPORVLJNHLW ZLH VLHVHOEVWLP*ROGHQHQ=HLWDOWHUXQHUK|UWZlUHXQGDQGUHUVHLWV GXUFKVFKDXHQ 6LH HLQHQ JOHLFK]HLWLJ ZLH ZHQQ PDQ YRQ *ODV ZlUH GXUFK XQG GXUFK PLW GHU IHLQVWHQ SV\FKRORJLVFKHQ %HREDFKWXQJVJDEH$EHUHUODXEHQ6LH)UVWGDVEHGDUIHLQHU (UNOlUXQJ GD LFK LFK ELQ JDQ] LQ 9HUZLUUXQJ JHUDWHQ $OOHUGLQJVKDWWHLFKGLH$EVLFKWPLU]XJXWHU/HW]WYRQ,KQHQ *HOG]XOHLKHQDEHUQXQKDEHQ6LHPLFKGDQDFKLQHLQHU:HLVH JHIUDJW DOV IlQGHQ 6LH GDULQ QLFKWV 7DGHOQVZHUWHV DOV PWH GDVVRVHLQ© ª-D EHL ,KQHQ PX GDV DXFK VR VHLQ© ª8QG 6LH VLQG GDUEHU QLFKW HQWUVWHW"© ª:RUEHU VROOWH LFK HQWUVWHW VHLQ"© ª+|UHQ 6LH PDO )UVW LFK ELQ VHLW JHVWHUQ DEHQG KLHUJHEOLHEHQ HUVWHQVDXVEHVRQGHUHU+RFKDFKWXQJ JHJHQGHQ IUDQ]|VLVFKHQ (U]ELVFKRI %RXUGDORXH YRQ GHP /HEHGHZ HU]lKOWH ZLU KDEHQ LQ /HEHGHZV :RKQXQJ ELV GUHL 8KU PRUJHQVHLQH)ODVFKHQDFKGHUDQGHUQHQWNRUNW XQG]ZHLWHQV XQGKDXSWVlFKOLFKLFKVFKZ|UH,KQHQEHLDOOHPZDVKHLOLJLVW GD LFK GLH UHLQH :DKUKHLW VDJH ZHLO LFK ,KQHQ HLQH YROOVWlQGLJH DXIULFKWLJH %HLFKWH DEOHJHQ XQG GDGXUFK VR]XVDJHQ PHLQH HLJHQH VLWWOLFKH (QWZLFNOXQJ I|UGHUQ ZROOWH PLW GLHVHP *HGDQNHQ VFKOLHI LFK ]ZLVFKHQ GUHL XQG YLHU 8KU WUlQHQEHUVWU|PW HLQ :HUGHQ 6LH GDV QXQ HLQHP K|FKVW HGHO GHQNHQGHQ 0HQVFKHQ JODXEHQ LQ GHPVHOEHQ $XJHQEOLFN DOV LFK HLQVFKOLHI DXIULFKWLJ HUIOOW YRQ LQQHUHQ XQG VR]XVDJHQ DXFK lXHUHQ 7UlQHQ GHQQ LFK VFKOXFK]WH ]XOHW]W ZLH LFK PLFKUHFKWZRKOHULQQHUH LQGHPVHOEHQ$XJHQEOLFNNDPPLU HLQWHXIOLVFKHU*HGDQNH¾:LHZDU¶V".|QQWHLFKQLFKW]XJXWHU
-HVXLWEHNDQQWDOV.DQ]HOUHGQHUXQG%HLFKWYDWHU
/HW]WQDFKGHU %HLFKWHPLU*HOGYRQLKPOHLKHQ"½$XIGLHVH :HLVH PDFKWH LFK PHLQH %HLFKWH ]XUHFKW XP PLFK VR DXV]XGUFNHQ ZLH HLQ UDJRW ILQ PLW 7UlQHQ LQ GHU $EVLFKW PLUPLWGLHVHQ7UlQHQGHQ:HJ]XEDKQHQXQGZHQQ6LHVLFK GDQQ JHVFKPHLFKHOW IKOWHQ PLU YRQ ,KQHQ KXQGHUWIQI]LJ 5XEHOFKHQDXV]DKOHQ]XODVVHQ0HLQHQ6LHQLFKWGDGDVHLQH *HPHLQKHLW LVW"© ª$EHU VR LVW GDV GRFK JHZL QLFKW ZDKU VRQGHUQ HV LVW QXU HLQIDFK HLQV ]XP DQGHUQ KLQ]XJHNRPPHQ =ZHL *HGDQNHQ VLQG ]XVDPPHQJHWURIIHQ GDV NRPPW VHKU RIW YRU 0LU EHJHJQHW GDV IRUWZlKUHQG ,FK JODXEH EULJHQV GD GDV QLFKW VFK|Q LVW XQG ZLVVHQ 6LH .HOOHU LFK PDFKH PLU GHVZHJHQGLHJU|WHQ9RUZUIH0LUZDUDOVRE6LHPLUPLFK VHOEVWVFKLOGHUWHQ0DQFKPDOKDEHLFKVRJDUJHGDFKW©IXKUGHU )UVW VHKU HUQVW XQG PLW DXIULFKWLJHP VWDUNHP ,QWHUHVVH IRUW ªGD DOOH 0HQVFKHQ YRQ GLHVHU $UW VLQG XQG ZROOWH GDQQ VFKRQ DQIDQJHQ PLU 0XW ]X PDFKHQ GHQQ JHJHQ GLHVH GRSSHOWHQ *HGDQNHQ DQ]XNlPSIHQ LVW IXUFKWEDU VFKZHU LFK ZHLHVDXV(UIDKUXQJ*RWWZHLZRKHUVLHNRPPHQXQGZLH VLH HQWVWHKHQ $EHU GD QHQQHQ 6LH GDV QXQ JHUDGH]X HLQH *HPHLQKHLW -HW]W ZHUGH DXFK LFK ZLHGHU DQIDQJHQ PLFK YRU GLHVHQ*HGDQNHQ]XIUFKWHQ-HGHQIDOOVVWHKWHVPLUQLFKW]X 6LH ]X YHUGDPPHQ $EHU PDQ GDUI GDV GRFK PHLQHU $QVLFKW QDFK QLFKW VR JHUDGH]X HLQH *HPHLQKHLW QHQQHQ PHLQHQ 6LH QLFKWDXFK"6LHKDEHQVLFKHLQHU/LVWEHGLHQWXPGXUFK7UlQHQ *HOG YRQ PLU KHUDXV]XORFNHQ DEHU GDEHL VFKZ|UHQ 6LH GRFK VHOEVWGD,KUH%HLFKWHQRFKHLQHQDQGHUQ=ZHFNKDWWHHLQHQ HGOHQ =ZHFN QLFKW QXU MHQHQ SHNXQLlUHQ :DV DEHU GDV *HOG DQODQJW VR ZROOHQ 6LH HV GRFK JHZL KDEHQ XP HV ]X YHU]HFKHQ QLFKW" 'DV LVW QDFK HLQHU VROFKHQ %HLFKWH VHOEVWYHUVWlQGOLFKHLQH.OHLQPWLJNHLW:LHDEHUVROOPDQDXFK QRFKGLH1HLJXQJ]XP7ULQNHQVRLP+DQGXPGUHKHQDEOHJHQ" 'DV LVW MD XQP|JOLFK :DV LVW GD ]X WXQ" 'DV EHVWH LVW ZRKO ZLU VWHOOHQ HV ,KUHP HLJHQHQ *HZLVVHQ DQKHLP PHLQHQ 6LH QLFKW"©
'HU )UVW EOLFNWH .HOOHU PLW GHP OHEKDIWHVWHQ ,QWHUHVVH DQ 'DV 7KHPD YRQ GHQ GRSSHOWHQ *HGDQNHQ KDWWH LKQ RIIHQEDU VFKRQ ODQJH EHVFKlIWLJW ª1D ZDUXP PDQ 6LH EHL DOOHGHP HLQHQ,GLRWHQQHQQWGDVLVWPLUXQYHUVWlQGOLFK©ULHI.HOOHU 'HU)UVWHUU|WHWHHLQZHQLJª'HU3UHGLJHU%RXUGDORXHGHU ZUGH PLW HLQHP 0HQVFKHQ ZLH PLU NHLQH 1DFKVLFKW JHKDEW KDEHQDEHU6LHZDUHQQDFKVLFKWLJXQGKDEHQPLFKPHQVFKOLFK JHULFKWHW 8P PLFK ]X EHVWUDIHQ XQG XP ]X ]HLJHQ GD LFK JHUKUW ELQ YHU]LFKWH LFK MHW]W DXI GLH KXQGHUWIQI]LJ 5XEHO JHEHQ 6LH PLU QXU IQIXQG]ZDQ]LJ XQG GDPLW EDVWD 0HKU EUDXFKH LFK QLFKW ZHQLJVWHQV QLFKW IU GLH QlFKVWHQ ]ZHL :RFKHQ9RU$EODXIYRQ]ZHL:RFKHQZHUGHLFKQLFKWZLHGHU XP *HOG ]X ,KQHQ NRPPHQ ,FK ZROOWH HLJHQWOLFK PHLQHU $JDVFKND HWZDV VFKHQNHQ DEHU VLH YHUGLHQW HV JDU QLFKW 2 OLHEHU)UVW*RWWVHJQH6LH© (QGOLFKNDP/HEHGHZKHUHLQGHUVRHEHQ]XUFNJHNHKUWZDU XQG UXQ]HOWH DOV HU LQ .HOOHUV +lQGHQ GHQ )QIXQG]ZDQ]LJ UXEHOVFKHLQ HUEOLFNWH GLH 6WLUQ $EHU NDXP KDWWH .HOOHU GDV *HOG EHHLOWH HU VLFK ZHJ]XNRPPHQ XQG YHUVFKZDQG VFKOHXQLJVW/HEHGHZEHJDQQVRIRUWDXILKQ]XVFKLPSIHQª6LH VLQG XQJHUHFKW© EHPHUNWH GHU )UVW HQGOLFK ª(U EHUHXWH ZLUNOLFKDXIULFKWLJ© ª$EHUZDVKDWGLH5HXHIUHLQHQ:HUW'DVLVWJHUDGHZLH LFK JHVWHUQ VDJWH ¾,FK ELQ HLQ JHPHLQHU 0HQVFK LFK ELQ HLQ JHPHLQHU 0HQVFK½ 'DV VLQG GRFK EORH :RUWH© ª$OVR EHL ,KQHQZDUHQHVEORH:RUWH",FKGDFKWHVFKRQ©ª1D,KQHQ ,KQHQDOOHLQZLOOLFKGLH:DKUKHLWVDJHQZHLO6LHMDGRFKHLQHQ 0HQVFKHQ JDQ] GXUFKVFKDXHQ GLH :RUWH XQG GDV 7XQ GLH /JH XQG GLH :DKUKHLW GDV LVW DOOHV ]XVDPPHQ LQ PLU HQWKDOWHQ XQG LVW DOOHV YROONRPPHQ DXIULFKWLJ 'LH :DKUKHLW XQG GDV 7XQ EHVWHKHQ EHL PLU LQ DXIULFKWLJHU 5HXH RE 6LH HV QXQJODXEHQRGHUQLFKWLFKNDQQ¶VEHVFKZ|UHQXQGGLH:RUWH XQG GLH /JH EHVWHKHQ LQ GHP WHXIOLVFKHQ LPPHU JHJHQZlUWLJHQ *HGDQNHQ ZLH LFK DXFK KLHUEHL MHPDQGHQ
KLQWHUV /LFKW IKUHQ XQG GXUFK GLH 5HXHWUlQHQ SURILWLHUHQ N|QQWH %HL *RWW VR LVW HV (LQHP DQGHUQ ZUGH LFK HV QLFKW VDJHQ HU ZUGH PLFK DXVODFKHQ RGHU YHUDFKWHQ DEHU 6LH )UVW 6LH XUWHLOHQ KXPDQ© ª1XQ VHKHQ 6LH GDV LVW JDQ] JHQDX GDVVHOEH ZDV DXFK HU PLU VRHEHQ JHVDJW KDW© ULHI GHU )UVWª8QGEHLGHUKPHQ6LHVLFKGHVVHQJHZLVVHUPDHQ6LH VHW]HQPLFKEHLGHLQ(UVWDXQHQQXULVWHUDXIULFKWLJHUDOV6LH 6LHDEHUKDEHQGLH6DFKH]XHLQHU$UWYRQ*HZHUEH JHPDFKW 1XQJHQXJGDYRQ5XQ]HOQ6LHQLFKWGLH6WLUQ /HEHGHZXQG OHJHQ 6LH QLFKW GLH +DQG DXIV +HU] +DEHQ 6LH PLU QLFKWV ]X VDJHQ"6LHZHUGHQGRFKQLFKWRKQH =ZHFN]XPLUJHNRPPHQ VHLQ© /HEHGHZ EHJDQQ *ULPDVVHQ ]X VFKQHLGHQ XQG VLFK ]X ZLQGHQª,FKKDEHGHQJDQ]HQ7DJDXI6LHJHZDUWHWXP,KQHQ HLQH )UDJH YRU]XOHJHQ VDJHQ 6LH QXQ ZHQLJVWHQV HLQPDO LQ ,KUHP/HEHQJOHLFKEHLGHQHUVWHQ:RUWHQGLH:DKUKHLWZDUHQ 6LH DQ GHU JHVWULJHQ *HVFKLFKWH PLW GHU (TXLSDJH LUJHQGZLH EHWHLOLJW"© /HEHGHZ VFKQLWW ZLHGHU *ULPDVVHQ XQG NLFKHUWH ULHE VLFK GLH +lQGH QLHVWH VRJDU ]XOHW]W NRQQWH VLFK DEHU LPPHU QRFK QLFKW GD]X HQWVFKOLHHQ HWZDV ]X VDJHQ ª,FK VHKH ,KQHQ DQ GD 6LH GDUDQ EHWHLOLJW ZDUHQ© ª$EHU QXU LQGLUHNW GXUFKDXV QXULQGLUHNW,FKVDJHGLHUHLQH:DKUKHLW,FKELQQXULQVRIHUQ GDUDQ EHWHLOLJW JHZHVHQ DOV LFK GLH EHWUHIIHQGH 3HUVRQ UHFKW]HLWLJ GDYRQ EHQDFKULFKWLJWH GD VLFK EHL PLU HLQH *HVHOOVFKDIW ]XVDPPHQJHIXQGHQ KDWWH XQG GD JHZLVVH /HXWH DQZHVHQG ZDUHQ© ª,FK ZHL GD 6LH ,KUHQ 6RKQ GRUWKLQ JHVFKLFNWKDEHQHUKDWHVPLUVHOEVWYRUKLQHLQJHVWDQGHQDEHU ZDV KDW GLHVH JDQ]H ,QWULJH ]X EHGHXWHQ"© ULHI GHU )UVW XQJHGXOGLJ ª(V LVW QLFKW PHLQH ,QWULJH QLFKW PHLQH ,QWULJH© ZHKUWH /HEHGHZ OHEKDIW JHVWLNXOLHUHQG DE ª'D VWHFNHQ DQGHUH/HXWHGDKLQWHUJDQ]DQGHUH/HXWHXQGHVLVWDXFKHKHU VR]XVDJHQ HLQ SKDQWDVWLVFKHU (LQIDOO DOV HLQH ,QWULJH© ª$EHU XPZDVKDQGHOWHVVLFKGHQQHLJHQWOLFK"'DVHUNOlUHQ6LHPLU
XP GHV +LPPHOV ZLOOHQ %HJUHLIHQ 6LH GHQQ QLFKW GD GLH 6DFKH PLFK GLUHNW DQJHKW" -HZJHQLM 3DZORZLWVFK ZLUG MD GDGXUFK DQJHVFKZlU]W© ª)UVW 'XUFKODXFKWLJVWHU )UVW© HUZLGHUWH /HEHGHZ VLFK ZLHGHU KLQ XQG KHU NUPPHQG ª6LH HUODXEHQ PLU MD QLFKW GLH JDQ]H :DKUKHLW ]X VDJHQ LFK KDEH ,KQHQ MD VFKRQ IUKHU HLQH ZDKUKHLWVJHPlH 0LWWHLOXQJ PDFKHQZROOHQVRJDUPHKUPDOVDEHU6LHJHVWDWWHWHQPLUQLFKW IRUW]XIDKUHQ© 'HU )UVW VFKZLHJ HLQ :HLOFKHQ XQG EHUOHJWH ª1XQ JXW VDJHQ6LHGLH:DKUKHLW© EUDFKWH HU RIIHQEDU QDFK VFKZHUHP .DPSI PKVDP KHUDXV ª$JODMD ,ZDQRZQD © EHJDQQ /HEHGHZ VRIRUW ª6FKZHLJHQ 6LH VFKZHLJHQ 6LH© ULHI GHU )UVW JULPPLJ HU ZDU YRU (PS|UXQJ YLHOOHLFKW DXFK YRU 6FKDP JDQ] URW JHZRUGHQ ª'DV LVW XQP|JOLFK GDV LVW 8QVLQQ'DVKDEHQ6LHVLFKDOOHVVHOEVWDXVJHGDFKWRGHU/HXWH GLHHEHQVRYHUUFNWVLQGZLH 6LH ,FK ZLOO GDV QLH ZLHGHU YRQ ,KQHQK|UHQ© 6SlW DP $EHQG HUVW QDFK ]HKQ 8KU HUVFKLHQ .ROMD PLW HLQHPJDQ]HQ6DFNYROO1DFKULFKWHQ6HLQH1DFKULFKWHQZDUHQ YRQ ]ZHLHUOHL $UW 3HWHUVEXUJHU XQG 3DZORZVNHU (U HU]lKOWH ]XQlFKVWUDVFKGDV:LFKWLJVWHDXV3HWHUVEXUJQDPHQWOLFKYRQ ,SSROLW XQG GHU $IIlUH YRP YRUKHUJHKHQGHQ 7DJH LQGHP HU VLFKYRUEHKLHOWQDFKKHUQRFKHLQPDOGDUDXI]XUFN]XNRPPHQ XQG JLQJ GDQQ P|JOLFKVW VFKQHOO ]X GHQ 3DZORZVNHU (UHLJQLVVHQ EHU (U ZDU YRU GUHL 6WXQGHQ DXV 3HWHUVEXUJ ]XUFNJHNHKUW XQG KDWWH VLFK RKQH ]X GHP )UVWHQ ]X NRPPHQ JHUDGHZHJV ]X -HSDQWVFKLQV EHJHEHQ ª'D JHKW HV VFKUHFNOLFK ]X© 9RUQHDQ VWHKH QDWUOLFK GLH *HVFKLFKWH PLW GHU.XWVFKH DEHU JHZLVHLGRUWQRFK HWZDV DQGHUHV SDVVLHUW GDV LKP XQG GHP )UVWHQ XQEHNDQQW VHL ª,FK KDEH VHOEVWYHUVWlQGOLFK QLFKW VSLRQLHUW XQG ZROOWH QLHPDQGHQ DXVIUDJHQ EULJHQV QDKPHQ VLH PLFK IUHXQGOLFK DXI VR IUHXQGOLFKZLHLFKHVJDUQLFKWHUZDUWHWKDWWHDEHU6LH)UVW ZXUGHQ PLW NHLQHP :RUW HUZlKQW© 'DV :LFKWLJVWH XQG
,QWHUHVVDQWHVWH VHL GD $JODMD VLFK YRUKLQ PLW GHQ ,KULJHQ *DQMDV ZHJHQ EHUZHUIHQ KDEH :LH GDV LP HLQ]HOQHQ ]XJHJDQJHQ ZlUH ZLVVH HU QLFKW QXU GD GHU 6WUHLW VLFK XP *DQMDJHGUHKWKDEHªVWHOOHQ6LHVLFKVRHWZDVYRU© XQGGD VLH KHIWLJ DQHLQDQGHUJHUDWHQ VHLHQ DOVR PVVH GHU *UXQG HLQ ZLFKWLJHU VHLQ 'HU *HQHUDO VHL HUVW VSlW XQG LQ PUULVFKHU 6WLPPXQJ QDFK +DXVH JHNRPPHQ ]XVDPPHQ PLW -HZJHQLM 3DZORZLWVFK GHQ VLH VHKU JXW DXIJHQRPPHQ KlWWHQ XQG -HZJHQLM 3DZORZLWVFK VHOEVW VHL HUVWDXQOLFK KHLWHU XQG OLHEHQVZUGLJJHZHVHQ'LHDOOHUZLFKWLJVWH1HXLJNHLWDEHUVHL GD /LVDZHWD 3URNRIMHZQD RKQH DOOHV $XIVHKHQ :DUZDUD $UGDOLRQRZQD GLH EHL GHQ MXQJHQ 0lGFKHQ JHZHVHQ VHL DXI LKU=LPPHUJHUXIHQXQGLKUHLQIUDOOHPDOGDV+DXVYHUERWHQ KDEH EULJHQV LQ GHU K|IOLFKVWHQ )RUP ± ªLFK KDEH HV YRQ :DUMD VHOEVW JHK|UW© $OV :DU MD DEHU DXV /LVDZHWD 3URNRIMHZQDV =LPPHU ZLHGHU KHUDXVJHNRPPHQ VHL XQG VLFK YRQ GHQ MXQJHQ 0lGFKHQ YHUDEVFKLHGHW KDEH GD KlWWHQ GLHVH JDU QLFKW JHZXW GD LKU GDV +DXV IU DOOH =HLWHQ YHUERWHQ ZRUGHQ VHL XQG VLH LKQHQ IU LPPHU /HEHZRKO VDJWH ª$EHU :DUZDUD$UGDOLRQRZQDZDUQRFKXPVLHEHQ8KUEHLPLU:LH JHKW GDV ]X"© IUDJWH GHU )UVW HUVWDXQW ª$XV GHP +DXVH JHZLHVHQ ZXUGH VLH ]ZLVFKHQ VLHEHQ XQG DFKW 8KU RGHU XP DFKW :DUMD WXW PLU VHKU OHLG DXFK *DQMD WXW PLU OHLG 'LH EHLGHQLQWULJLHUHQ]ZHLIHOORVIRUWZlKUHQGRKQHGDVN|QQHQVLH JDUQLFKWOHEHQ,FKKDEHQLHGDKLQWHUNRPPHQN|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
XQDEKlQJLJH VHOEVWlQGLJH 6WHOOXQJ HLQJHQRPPHQ DEHU LFK PX PLU GLH 6DFKH GRFK HUVW QRFK EHUOHJHQ© ª6LH EHGDXHUQ ,KUHQ%UXGHUXQQ|WLJHUZHLVHVRVHKU©HUZLGHUWHLKPGHU)UVW ª:HQQ HV VFKRQ VR ZHLW JHNRPPHQ LVW GD /LVDZHWD 3URNRIMHZQD HLQH GHUDUWLJH 0DUHJHO IU QRWZHQGLJ KlOW VR PX*DZULOD$UGDOLRQRZLWVFKLQLKUHQ$XJHQJHIlKUOLFKVHLQ XQGIROJOLFKHUVFKHLQHQJHZLVVH+RIIQXQJHQGLHHUKHJWQLFKW XQEHJUQGHW© ª:DV GHQQ IU +RIIQXQJHQ"© ULHI .ROMD HUVWDXQW ª6LH JODXEHQGRFK QLFKW GD $JODMD 'DV LVW QLFKW P|JOLFK© 'HU )UVW VFKZLHJ ª6LH VLQG HLQ VFKUHFNOLFKHU 6NHSWLNHU )UVW© IJWH .ROMD QDFK HLQ SDDU 0LQXWHQ KLQ]X ª,FK KDEH EHPHUNW GD 6LH VHLW HLQLJHU =HLW DXHURUGHQWOLFK VNHSWLVFK JHZRUGHQ VLQG 6LH IDQJHQ DQ DQ QLFKWV ]X JODXEHQ XQG DOOHV IU P|JOLFK ]X KDOWHQ +DEH LFK GDV :RUW ¾6NHSWLNHU½ LQ GLHVHP)DOOULFKWLJDQJHZHQGHW"© ª,FK JODXEHMD*HQDX ZHL LFKHVDOOHUGLQJVVHOEVWQLFKW© ª$EHUQXQZLGHUUXIHLFKVHOEVW GDV :RUW ¾6NHSWLNHU½© ULHI .ROMD DXI HLQPDO ª6LH VLQG NHLQ 6NHSWLNHU VRQGHUQ HLIHUVFKWLJ 6LH VLQG DXI * DQ MD HLQHV JHZLVVHQVWRO]HQ0lGFKHQVZHJHQK|OOLVFKHLIHUVFKWLJ© 1DFKGLHVHQ:RUWHQVSUDQJ.ROMDDXIXQGODFKWHVRKHU]OLFK ZLHHUHVYLHOOHLFKWLQVHLQHP/HEHQQRFKQLHJHWDQKDWWH$OV HUVDKGDGHU)UVWJDQ]URWJHZRUGHQZDUVWHLJHUWHVLFKVHLQ /DFKHQ QRFK GHU *HGDQNH GD GHU )UVW $JODMDV ZHJHQ HLIHUVFKWLJ ZDU PDFKWH LKP GHQ JU|WHQ 6SD DEHU HU YHUVWXPPWH VRIRUW DOV HU EHPHUNWH GD GLHVHU VLFK ZLUNOLFK JHNUlQNW IKOWH 'DUDXI IKUWHQ VLH QRFK HLQH RGHU DQGHUWKDOE 6WXQGHQODQJVHKUHUQVWXQGEHVRUJWHLQ*HVSUlFKPLWHLQDQGHU $P QlFKVWHQ 7DJ YHUEUDFKWH GHU )UVW ZHJHQ HLQHV XQDXIVFKLHEEDUHQ *HVFKlIWV GHQ JDQ]HQ 9RUPLWWDJ LQ 3HWHUVEXUJ$OVHU±HVZDUVFKRQEDOGIQI8KUQDFKPLWWDJV± QDFK 3DZORZVN ]XUFNNHKUWH WUDI HU DXI GHP %DKQKRI PLW ,ZDQ )MRGRURZLWVFK ]XVDPPHQ 'LHVHU QDKP LKQ VFKQHOO EHL GHU+DQGEOLFNWHVLFKXPDOVIUFKWHWHHUHWZDVXQG]RJGHQ
)UVWHQ PLW VLFK LQ HLQHQ :DJHQ HUVWHU .ODVVH XP PLW LKP ]XVDPPHQ]XIDKUHQ(UEUDQQWHYRU9HUODQJHQPLWLKPEHU HLQHQ ZLFKWLJHQ 3XQNW ]X VSUHFKHQ ª(UVWHQV OLHEHU )UVW VHL QLFKW E|VH DXI PLFK XQG ZHQQ LFK PLFK PHLQHUVHLWV QLFKW ULFKWLJ YHUKDOWHQ KDEH VR YHUJL GDV ,FK ZlUH JHVWHUQ VFKRQ VHOEVW ]X GLU JHNRPPHQ DEHU LFK ZXWH QLFKW ZLH /LVDZHWD 3URNRIMHZQDGDVDXIQHKPHQZUGH%HLPLU]X+DXVHLVW GLH +|OOH ORV HLQH UlWVHOKDIWH 6SKLQ[ KDW VLFK GD QLHGHUJHODVVHQXQGLFKJHKHXPKHURKQHHWZDV]XYHUVWHKHQ :DVDEHUGLFKDQODQJWVRWUlJVWGXPHLQHV(UDFKWHQVZHQLJHU 6FKXOG DOV ZLU DOOH REZRKO QDWUOLFK YLHOHV GHLQHWZHJHQ VR JHNRPPHQ LVW 'X VLHKVW )UVW HV LVW HLQ 9HUJQJHQ HLQ 3KLODQWKURS]XVHLQDEHUNHLQVHKUJURHV'XKDVWZRKOVHOEVW VFKRQ GLH )UFKWH GDYRQ ]X VFKPHFNHQ EHNRPPHQ ,FK KDEH QDWUOLFK +HU]HQVJWH VHKU JHUQ XQG VFKlW]H /LVDZHWD 3URNRIMHZQDVHKUKRFKDEHU© 'HU*HQHUDOIXKUQRFKODQJHIRUWLQGLHVHU:HLVH]XUHGHQ DEHUVHLQH:RUWHZDUHQVHOWVDPXQ]XVDPPHQKlQJHQG(VZDU NODU GD HU GXUFK HWZDV LKP Y|OOLJ 8QYHUVWlQGOLFKHV VWDUN HUVFKWWHUW XQG YHUZLUUW ZRUGHQ ZDU ª)U PLFK XQWHUOLHJW HV NHLQHP=ZHLIHOGDGXGDPLWQLFKWV]XVFKDIIHQKDVW©GUFNWH HU VLFK HQGOLFK GHXWOLFKHU DXV ª$EHU LFK ELWWH GLFK LQ DOOHU )UHXQGVFKDIWXQVHLQH=HLWODQJQLFKW]XEHVXFKHQELVVLFKGHU :LQG JHGUHKW KDEHQ ZLUG :DV DEHU -HZJHQLM 3DZO\WVFK DQEHWULIIW© ULHI HU PLW XQJHZ|KQOLFKHU /HLGHQVFKDIWOLFKNHLW ªVR LVW GDV DOOHV VLQQORVH 9HUOHXPGXQJ 9HUOHXPGXQJ VFKOLPPVWHU $UW (V LVW $QVFKZlU]XQJ HLQH ,QWULJH VWHFNW GDKLQWHU GHU :XQVFK DOOHV EHU GHQ +DXIHQ ]X VWU]HQ XQG XQV]XHQW]ZHLHQ6LHKVWGX)UVWLFKVDJHGLULP9HUWUDXHQ ]ZLVFKHQXQVXQG-HZJHQLM3DZO\WVFKLVWQRFKNHLQGHXWOLFKHV :RUWJHVSURFKHQZRUGHQ:LUVLQGLQNHLQHU:HLVHJHEXQGHQ DEHUHLQVROFKHV :RUW NDQQ JHVSURFKHQ ZHUGHQ XQG YLHOOHLFKW VRJDU VHKU EDOG 'DUXP ZROOWH PDQ LKP VFKDGHQ $EHU ZHOFKHQ =ZHFN GDV *DQ]H HLJHQWOLFK YHUIROJW GDV NDQQ LFK
QLFKW EHJUHLIHQ 6LH LVW HLQ ZXQGHUEDUHV :HLE HLQ H[]HQWULVFKHV :HLE LFK IUFKWH PLFK YRU LKU VR VHKU GD LFK NDXPVFKODIHQNDQQ8QGZDVIUHLQH(TXLSDJHVLHKDW'LHVH 6FKLPPHO 'DV LVW JURDUWLJ GDV LVW JHQDX GDV ZDV PDQ LP )UDQ]|VLVFKHQ FKLF QHQQW :HU EH]DKOW GDV IU VLH" ,FK KDEH PLFK ZDKUKDIWLJ YHUVQGLJW XQG YRUJHVWHUQ JHGDFKW DP (QGH WXHHV-HZJHQLM3DZO\WVFK$EHUHVVWHOOWVLHKKHUDXVGDGDV XQP|JOLFK LVW ZHQQ GDV DEHU XQP|JOLFK LVW ZDUXP ZLOO VLH GDQQ GLHVH 6DFKH KLQWHUWUHLEHQ" 'DV LVW GDV 5lWVHO 8P -HZJHQLM3DZO\WVFKIUVLFK]XEHKDOWHQ"$EHULFKZLHGHUKROH GLUXQGEHNUHX]LJHPLFKGDEHLGDHUPLWLKUQLFKWEHNDQQWLVW XQGGDVGLHVH:HFKVHOSXUH(UILQGXQJVLQG 8QGPLWZHOFKHU )UHFKKHLWVLHLKQEHUGLH6WUDHZHJGX]WH'DVLVWMDGLHUHLQH 9HUVFKZ|UXQJ (V LVW NODU GD PDQ GLHVH 9HUOHXPGXQJ YHUlFKWOLFK ]XUFNZHLVHQ XQG GHP EHOHLGLJWHQ -HZJHQLM 3DZO\WVFKPLWGRSSHOWHU$FKWXQJEHJHJQHQPX'DVKDEHLFK DXFK /LVDZHWD 3URNRIMHZQD JHVDJW -HW]W ZLOO LFK GLU PHLQHQ DOOHUJHKHLPVWHQ *HGDQNHQ PLWWHLOHQ LFK ELQ IHVW EHU]HXJW GDVLHGDVJHWDQKDWXPVLFKDQPLUSHUV|QOLFK]XUlFKHQGX HULQQHUVW GLFK ZRKO ZHJHQ PHLQHU IUKHUHQ %H]LHKXQJHQ ]X LKUREZRKOLFK PLU LKU JHJHQEHU QLH DXFK QXU GDV *HULQJVWH KDEH ]XVFKXOGHQ NRPPHQ ODVVHQ ,FK HUU|WH EHL GHU EORHQ (ULQQHUXQJ -HW]W LVW VLH QXQ ZLHGHU DXIJHWDXFKW LFK KDWWH VFKRQ JHGDFKW VLH ZlUH IU LPPHU YHUVFKZXQGHQ 6DJ PDO ELWWH ZR VWHFNW GHQQ HLJHQWOLFK GLHVHU 5RJRVKLQ" ,FK GDFKWH VLHZlUHVFKRQOlQJVWVHLQH)UDX© .XU] GHU 0DQQ ZDU Y|OOLJ GXUFKHLQDQGHU )DVW GLH JDQ]H 6WXQGHGLHGLH)DKUWGDXHUWHUHGHWHHUDOOHLQZDUI)UDJHQDXI GLHHUGDQQVHOEVWEHDQWZRUWHWHGUFNWHGHP)UVWHQGLH+DQG XQG EHU]HXJWH GLHVHQ ZHQLJVWHQV GDYRQ GD HU NHLQHQ 9HUGDFKW JHJHQ LKQ ]X KHJHQ EUDXFKH 'DV ZDU GHP )UVWHQ ZLFKWLJ =XOHW]W HU]lKOWH HU YRQ -HZJHQLM 3DZO\WVFKV 2QNHO GHP&KHIHLQHU.DQ]OHLLQ3HWHUVEXUJª(UEHNOHLGHWHLQKRKHV $PW LVW VLHE]LJ -DKUH DOW HLQ /HEHPDQQ HLQ )HLQVFKPHFNHU
XQGOlWVLFKWURW]VHLQHU-DKUHQRFKOHLFKWYHUORFNHQ+DKD ,FK ZHL GD HU YRQ 1DVWDVMD )LOLSSRZQD JHK|UW XQG VLFK VRJDUXPVLHEHPKWKDW ,FKVSUDFKYRUKLQEHLLKP YRU DEHU HU HPSIlQJW QLFKW HU LVW XQSlOLFK $EHU HU LVW UHLFK VFKZHU UHLFK EHVLW]W JURHQ (LQIOX XQG 1XQ *RWW JHEH LKP *HVXQGKHLWXQGHLQODQJHV/HEHQDEHULUJHQGHLQPDOIlOOWGRFK DOOHV-HZJHQLM3DZO\WVFK]X-DMDDEHUGRFKlQJVWLJHLFK PLFK ,FKZHLQLFKWZRYRU DEHU LFK lQJVWLJH PLFK (V LVW DOV RE HWZDV LQ GHU /XIW VFKZHEW ZLH HLQH )OHGHUPDXV HV LVW HLQ 8QKHLO LP $Q]XJ XQG LFK lQJVWLJH PLFK LFK lQJVWLJH PLFK© (QGOLFK DEHU HUVW DP GULWWHQ 7DJH ZLH VFKRQ REHQ JHVDJW HUIROJWHGLHI|UPOLFKH$XVV|KQXQJGHU)DPLOLH-HSDQWVFKLQPLW GHP)UVWHQ/HZ1LNRODMHZLWVFK
;,, (VZDUVLHEHQ8KUDEHQGVGHU)UVWZROOWHHEHQLQGHQ3DUN JHKHQ $XI HLQPDO NDP /LVDZHWD 3URNRIMHZQD JDQ] DOOHLQ ]X LKPLQGLH9HUDQGDª(UVWHQVELOGHGLUQLFKWHLQ©EHJDQQVLH ªGD LFK JHNRPPHQ ZlUH GLFK XP 9HU]HLKXQJ ]X ELWWHQ 8QVLQQ'XDOOHLQWUlJVWGLHJDQ]H6FKXOG© 'HU )UVW VFKZLHJ ª7UlJVW GX GLH 6FKXOG"© ª,Q GHPVHOEHQ 0DH ZLH 6LH hEULJHQV KDEHQ ZHGHU 6LH QRFK LFK LQ LUJHQGHLQHU +LQVLFKW XQV DEVLFKWOLFK VFKXOGLJ JHPDFKW ,FK KLHOW PLFK YRUJHVWHUQ IU VFKXOGLJ DEHU MHW]W ELQ LFK GRFK DQGHUHU $QVLFKW XQG PHLQH GD GHP QLFKW VR LVW© ª$OVR VR GHQNVW GX GDUEHU 1XQ JXW K|U ]X XQG VHW] GLFK GHQQ LFK EHDEVLFKWLJHQLFKW]XVWHKHQ©
%HLGHVHW]WHQVLFKª=ZHLWHQVNHLQ:RUWYRQGHQERVKDIWHQ %XUVFKHQ ,FK ZHUGH ]HKQ 0LQXWHQ KLHUEOHLEHQ XQG PLW GLU UHGHQ LFK ELQ KHUJHNRPPHQ XP GLFK QDFK HWZDV ]X IUDJHQ GXGDFKWHVWZRKOVFKRQLFKVHLDXV*RWWZHLZDVIU HLQHP *UXQGHJHNRPPHQ" XQGZHQQGXGHUGUHLVWHQ%XUVFKHQDXFK QXU PLW HLQHP :RUWH (UZlKQXQJ WXVW VR VWHKH LFK DXI XQG JHKH ZHJ XQG EUHFKH MHGHQ 9HUNHKU PLW GLU DE© ª*XW© DQWZRUWHWH GHU )UVW ª*HVWDWWH GLH )UDJH KDVW GX YRU ]ZHL RGHU]ZHLHLQKDOE0RQDWHQXP2VWHUQKHUXPDQ$JODMDHLQHQ %ULHI JHVFKULHEHQ"© ª-±MD GDV KDEH LFK JHWDQ© ª:DV KDWWHVW GXGDEHLIUHLQH$EVLFKW":DVVWDQGLQGHP%ULHI"=HLJPDO GHQ%ULHIKHU© /LVDZHWD 3URNRIMHZQDV $XJHQ EOLW]WHQ VLH±]LWWHUWH YRU 8QJHGXOGª'HQ%ULHIKDEHLFKQLFKW©YHUVHW]WHGHU)UVWVHKU HUVWDXQW XQG VHKU VFKFKWHUQ ª:HQQ HU EHUKDXSW QRFK H[LVWLHUW PX LKQ $JODMD ,ZDQRZQD KDEHQ© ª.HLQH $XVIOFKWH :DV KDVW GX LKU JHVFKULHEHQ"© ª,FK PDFKH NHLQH $XVIOFKWHLFKKDEHNHLQHQ*UXQGPLFK]XIUFKWHQ,FKVHKH QLFKW HLQ ZDUXP LFK LKU QLFKW KlWWH VFKUHLEHQ GUIHQ © ª6FKZHLJ'XNDQQVWQDFKKHUUHGHQ:DVVWDQGLQGHP%ULHI" :DUXPELVWGXVRURWJHZRUGHQ"© 'HU)UVWEHUOHJWHHLQ:HLOFKHQª,FKNHQQH,KUH*HGDQNHQ QLFKW/LVDZHWD3URNRIMHZQD,FKVHKHQXUGD,KQHQGHU%ULHI VHKU PLIlOOW 6LH ZHUGHQ ]XJHEHQ PVVHQ GD LFK GLH %HDQWZRUWXQJ HLQHU VROFKHQ )UDJH DEOHKQHQ N|QQWH DEHU XP ,KQHQ]X]HLJHQGDLFKPLFKZHJHQGHV%ULHIHVQLFKWIUFKWH XQGHVQLFKWEHGDXUHLKQJHVFKULHEHQ]XKDEHQXQGJDQ]XQG JDU QLFKW XP VHLQHWZLOOHQ HUU|WH© KLHU ZXUGH GHU )UVW IDVW QRFKHLQPDOVRURW ªZLOOLFK,KQHQGLHVHQ%ULHIKHUVDJHQGD LFKLKQZLHLFKPHLQHDXVZHQGLJZHL© +LHUDXIVDJWHGHU)UVWGHQ%ULHIIDVW:RUWIU:RUWVRKHU ZLH HU LKQ JHVFKULHEHQ KDWWH ª6R HLQ *DOLPDWKLDV :DV VROO GLHVHU 8QVLQQ GHQQ QDFK GHLQHU 0HLQXQJ EHGHXWHQ"© IUDJWH /LVDZHWD3URNRIMHZQDLQVFKDUIHP7RQQDFKGHPVLHEHLGHP
+HUVDJHQ GHV %ULHIHV VHKU DXIPHUNVDP ]XJHK|UW KDWWH ª,FK ZHLHVVHOEVWQLFKWJDQ]LFKZHLQXUGDPHLQH(PSILQGXQJ ZDKU XQG HFKW ZDU ,FK KDWWH GRUW $XJHQEOLFNH LQ GHQHQ LFK ZDKUKDIW OHEWH XQG YRQ DXHURUGHQWOLFKHQ +RIIQXQJHQ HUIOOW ZDU© ª9RQ ZDV IU +RIIQXQJHQ"© ª'DV LVW VFKZHU ]X HUNOlUHQ DEHU QLFKW YRQ GHQHQ DQ GLH 6LH MHW]W YLHOOHLFKW GHQNHQ9RQ+RIIQXQJHQQXQNXU]YRQ+RIIQXQJHQDXIGLH =XNXQIW XQG YRQ )UHXGH GDUEHU GD LFK YLHOOHLFKW GRUW NHLQ )UHPGHUNHLQ$XVOlQGHUZDU(VJHILHOPLUDXIHLQPDOVHKUJXW LQ GHU +HLPDW $Q HLQHP VRQQLJHQ 0RUJHQ HUJULII LFK GLH )HGHUXQGVFKULHEHLQHQ%ULHIDQVLHZDUXPJHUDGHDQVLHGDV ZHL LFK QLFKW (V EHUNRPPW HLQHQ MD PDQFKPDO HLQ 9HUODQJHQHLQHQ)UHXQGQHEHQVLFK]XKDEHQDXFKLFKVHKQWH PLFK RIIHQEDU QDFK HLQHP )UHXQG © IJWH GHU )UVW QDFK NXU]HP6FKZHLJHQKLQ]X ª%LVWGXYHUOLHEWMD"© ª1QHLQ ,FK LFK KDEH ZLH DQ HLQH 6FKZHVWHU JHVFKULHEHQ LFK KDEH DXFK DOV %UXGHU XQWHU]HLFKQHW© ª+P $EVLFKWOLFK LFK YHUVWHKH© ª(V LVW PLU VHKU SHLQOLFK ,KQHQ DXI GLHVH )UDJHQ ]X DQWZRUWHQ /LVDZHWD 3URNRIMHZQD© ª,FK ZHL GD HV GLU SHLQOLFK LVW DEHU GDV NPPHUWPLFKQLFKW+|UPDOVDJPLUGLH:DKUKHLWZLHZHQQ GXYRU*RWWVWQGHVWOJVWGXPLUDXFKQLFKWVYRU"©ª,FKOJH QLFKW© ª6DJVW GX GLH :DKUKHLW GD GX QLFKW YHUOLHEW ELVW"© ª,FK JODXEH GD GDV GLH YROOH :DKUKHLW LVW© ª6LHK PDO DQ ¾,FK JODXEH½ :HU KDW LKU GHQ %ULHI EHUEUDFKW" 'HU GXPPH -XQJH"© ª,FK KDEH 1LNRODL $UGDOLRQRZLWVFK JHEHWHQ © ª(LQ GXPPHU -XQJH LVW HU (LQ GXPPHU -XQJH© XQWHUEUDFK LKQ /LVDZHWD 3URNRIMHZQD ª,FK NHQQH NHLQHQ 1LNRODL $UGDOLRQRZLWVFK (LQ GXPPHU -XQJH LVW HU© ª1LNRODL $UGDOLRQRZLWVFK©ª(LQGXPPHU-XQJHVDJHLFKGLU©ª1HLQ NHLQ GXPPHU -XQJH VRQGHUQ 1LNRODL $UGDOLRQRZLWVFK© DQWZRUWHWHGHU)UVWLQIHVWHP7RQZHQQDXFK]LHPOLFKOHLVH ª1D VFK|Q PHLQ 7lXEFKHQ VFK|Q 'DV ZHUGH LFK GLU DQNUHLGHQ©
6LH NlPSIWH LKUH $XIUHJXQJ IU HLQ :HLOFKHQ QLHGHU XQG HUKROWHVLFKª8QGZDVKDWHVPLWGHP¾DUPHQ5LWWHU½IUHLQH %HZDQGWQLV"© ª'DV LVW PLU Y|OOLJ XQEHNDQQW LFK ELQ QLFKW GDEHLJHZHVHQ DOV HV DXINDP HV LVW LUJHQGHLQ 6FKHU]© ª0LU VHKU DQJHQHKP GDV ]X HUIDKUHQ $EHU NRQQWH VLH VLFK GHQQ ZLUNOLFK IU GLFK LQWHUHVVLHUHQ" 6LH KDW GLFK MD VHOEVW ¾0LJHEXUW½ XQG ¾,GLRW½ JHQDQQW© ª'DV KlWWHQ 6LH PLU QLFKW ZLHGHUVDJHQ VROOHQ© EHPHUNWH GHU )UVW YRUZXUIVYROO DEHU EHLQDK IOVWHUQG ª6HL QLFKW E|VH 6LH LVW HLQ HLJHQVLQQLJHV YHUUFNWHV YHU]RJHQHV 0lGFKHQ ZHQQ VLH VLFK YHUOLHEW VR ZLUGVLHXQEHGLQJWODXWEHUGHQ*HOLHEWHQVFKLPSIHQXQGLKP LQV *HVLFKW VSRWWHQ LFK ELQ JDQ] HEHQVR JHZHVHQ 1XU ELWWH WULXPSKLHUH QLFKW PHLQ 7lXEFKHQ VLH ZLUG QLFKW GLH 'HLQH ZHUGHQ LFK JODXEH QLFKW GDUDQ HV ZLUG QLH JHVFKHKHQ ,FK VDJH GDV GDPLW GX GLFK VFKRQ MHW]W GDQDFK HLQULFKWHVW +|U PDO VFKZ|UH PLU GD GX QLFKW PLW MHQHU )UDXHQVSHUVRQ YHUKHLUDWHW ELVW© ª/LVDZHWD 3URNRIMHZQD LFK ELWWH 6LH ZDV UHGHQ6LHGD©ULHIGHU)UVWXQGVSUDQJYRU(UVWDXQHQEHLQDK DXI ª$EHUHVIHKOWHQLFKWYLHO GD GX VLH JHKHLUDWHW KlWWHVW"© ª1HLQ HV IHKOWH QLFKW YLHO© IOVWHUWH GHU )UVW XQG OLH GHQ .RSIVLQNHQª$OVRLQGLHELVWGXGRFKYHUOLHEWZHQQHVVRLVW" %LVW GX MHW]W XP LKUHWZLOOHQ KHUJHUHLVW" 8P GLHVHU )UDXHQV SHUVRQ ZLOOHQ"© ª,FK ELQ QLFKW KHUJHUHLVW XP ]X KHLUDWHQ© YHUVHW]WHGHU)UVWª,VWGLUHWZDVDXIGHU:HOWKHLOLJ"© ª-D© ª'DQQ VFKZ|UH PLU GD GX QLFKW KHUJHUHLVW ELVW XP GLH]XKHLUDWHQ© ª,FKVFKZ|UHHVEHLDOOHPZDV6LHZROOHQ© ª,FK JODXEH GLU NVVH PLFK (QGOLFK NDQQ LFK ZLHGHU IUHL DWPHQ $EHU PHUN GLU¶V $JODMD OLHEW GLFK QLFKW ULFKWH GLFK GDQDFKVRODQJHLFKDXIGHU:HOWELQZLUGVLHQLFKWGHLQH)UDX ZHUGHQ+DVWGXJHK|UW"©ª-DLFKKDEHHVJHK|UW© 'HU )UVW HUU|WHWH VR VWDUN GD HU /LVDZHWD 3URNRIMHZQD QLFKW JHUDGH LQ GLH $XJHQ VHKHQ NRQQWH ª1XQ GDQQ PHUN HV GLU,FKKDEHDXIGLFKJHZDUWHWZLHDXIGLH9RUVHKXQJZDVGX EULJHQV QLFKW ZHUW ZDUVW LFK KDEH PHLQ .LVVHQ QDFKWV PLW
7UlQHQEHQHW]W±QLFKWGHLQHWZHJHQPHLQ7l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© ª,FK JHEH ,KQHQ PHLQ (KUHQZRUW GD LFK QLFKW GDEHL EHWHLOLJWZDUXQGQLFKWVGDYRQZHL© ª*HQXJLFKJODXEHGLU -HW]W IDVVH LFK GLH 6DFKH DQGHUV DXI DEHU QRFK JHVWHUQ YRUPLWWDJ PDFKWH LFK -HZJHQLM 3DZO\WVFK IU DOOHV YHUDQWZRUWOLFK 'HQ JDQ]HQ YRUJHVWULJHQ 7DJ XQG JHVWHUQ YRUPLWWDJ ZDU LFK GLHVHU 0HLQXQJ -HW]W DOOHUGLQJV NDQQ LFK QLFKWXPKLQGHQDQGHUQEHL]XVWLPPHQHVLVWRIIHQEDUGDVLH VLFK EHU LKQ ZLH EHU HLQHQ 'XPPNRSI OXVWLJ JHPDFKW KDW DXV LUJHQGHLQHP *UXQGH ]X LUJHQGHLQHP =ZHFN LQ LUJHQGHLQHU$EVLFKW6FKRQGDVDOOHLQLVWYHUGlFKWLJXQGJDQ] XQJHK|ULJ $EHU $JODMD ZLUG HU QLFKW ]XU )UDX EHNRPPHQ GDVVDJHLFKGLU(UPDJMDHLQJDQ]JXWHU0HQVFKVHLQDEHUHV NRPPW GRFK VR )UKHU KDEH LFK QRFK JHVFKZDQNW DEHU MHW]W KDEHLFKPLWDOOHU%HVWLPPWKHLWHUNOlUW¾/HJWPLFKHUVWLQGHQ 6DUJ XQG YHUVHQNW PLFK LQ GLH (UGH GDQQ N|QQW LKU PHLQH 7RFKWHU ]XU )UDX JHEHQ ZHP LKU ZROOW½ 'DV KDEH LFK KHXWH PHLQHP0DQQHJHJHQEHUDXVJHVSURFKHQ6LHKVWGXZRKOGD LFK GLU YHUWUDXH" 6LHKVW GX GDV ZRKO"© ª-D LFK VHKH XQG YHUVWHKHHV© /LVDZHWD3URNRIMHZQDEOLFNWHGHQ)UVWHQGXUFKGULQJHQGDQ YLHOOHLFKW ZROOWH VLH ZLVVHQ ZHOFKHQ (LQGUXFN GLH 0LWWHLOXQJ EHU -HZJHQLM 3DZO\WVFK DXI LKQ PDFKWH ª9RQ *DZULOD ,ZROJLQ ZHLW GX QLFKWV"© ª'DV KHLW LFK ZHL YRQ LKP YLHOHV© ª+DVW GX JHZXW GD HU PLW $JODMD %H]LHKXQJHQ
XQWHUKlOW"© ª'DYRQ KDEH LFK QLFKW GDV JHULQJVWH JHZXW© HUZLGHUWHGHU)UVWHUVWDXQWHU]XFNWHVRJDU]XVDPPHQª:LH" 6LH VDJHQ *DZULOD $UGDOLRQRZLWVFK XQWHUKDOWH %H]LHKXQJHQ PLW $JODMD ,ZDQRZQD" 8QP|JOLFK© ª(UVW VHLW NXU]HU =HLW 6HLQH6FKZHVWHUKDWLKPGHQJDQ]HQ:LQWHUGHQ:HJJHEDKQW ZLH HLQH 5DWWH KDW VLH JHZKOW XQG JHQDJW© ª,FK JODXEH HV QLFKW© ZLHGHUKROWH GHU )UVW PLW IHVWHU 6WLPPH QDFKGHP HU HLQ :HLOFKHQ HUUHJW QDFKJHGDFKW KDWWH ª:HQQ GDV GHU )DOO ZlUHZUGHLFKHVVLFKHUZLVVHQ©ª1DMDHUZlUHZRKOVHOEVW JHNRPPHQ ZlUH GLU DQ GLH %UXVW JHVXQNHQ XQG KlWWH HV GLU XQWHU7UlQHQJHVWDQGHQ2GX(LQIDOWVSLQVHOGX(LQIDOWVSLQVHO $OOH EHWUJHQ VLH GLFK MD ZLH 6FKlPVW GX GLFK GHQQ JDU QLFKW LKP ]X YHUWUDXHQ" 6LHKVW GX GHQQ QLFKW GD HU GLFK VWlQGLJKLQWHUV/LFKWIKUW"©ª,FKZHLVHKUZRKOGDHUPLFK PDQFKPDOEHWUJW©DQWZRUWHWHGHU)UVWXQZLOOLJXQGKDOEODXW ªXQGHUZHLGDLFKGDVZHLDEHU©IJWHHUKLQ]XVSUDFK MHGRFKGHQ6DW]QLFKW]X(QGHª(VZLVVHQXQGGRFKYHUWUDXHQ 'DV KDW QRFK JHIHKOW hEULJHQV NRQQWH PDQ GDV YRQ GLU HUZDUWHQ:RUEHUZXQGHUHLFKPLFKGDQRFK"0HLQ*RWW+DW HVMHVRHLQHQ0HQVFKHQJHJHEHQ"1HLQVRHWZDV8QGZHLW GX GD GLHVHU *DQMND RGHU GLHVH :DUMD VLH PLW 1DVWDVMD )LOLSSRZQDLQ%H]LHKXQJHQJHEUDFKWKDEHQ"©ª:HQ"©ULHIGHU )UVWª$JODMD©ª'DVJODXEHLFKQLFKW'DVLVWQLFKWP|JOLFK :DVVROOWHQVLHGDEHLIUHLQH$EVLFKWJHKDEWKDEHQ"© (UVSUDQJYRP6WXKODXIª$XFKLFKJODXEHHVQLFKWREZRKO VLFKHUH $Q]HLFKHQ GDIU YRUKDQGHQ VLQG 6LH LVW HLQ HLJHQZLOOLJHV 0lGFKHQ HLQ SKDQWDVWLVFKHV 0lGFKHQ HLQ YHUUFNWHV 0lGFKHQ 8QG ERVKDIW LVW VLH ERVKDIW 7DXVHQG -DKUH ZHUGH LFK EHKDXSWHQ GD VLH ERVKDIW LVW $OOH PHLQH 7|FKWHU KDEHQ VLFK MHW]W LQ GLHVHU :HLVH YHUlQGHUW VRJDU GDV VDQIWH +KQFKHQ GLH $OH[DQGUD DEHU EHL $JODMD LVW HV UHLQ ]XP 7ROO ZHUGHQ $EHU LFK JODXEH HV DXFK QLFKW 9LHOOHLFKW GHVZHJHQ ZHLO LFK HV QLFKW JODXEHQ ZLOO© IJWH VLH ZLH IU VLFK KLQ]X ª:DUXP ELVW GX GHQQ QLFKW ]X XQV JHNRPPHQ"©
ZDQGWHVLHVLFKSO|W]OLFKZLHGHUDQGHQ)UVWHQ ª:DUXPELVW GX GLH JDQ]HQ GUHL 7DJH QLFKW JHNRPPHQ"© ULHI VLH LKP XQJHGXOGLJ]XP]ZHLWHQPDO]X 'HU )UVW EHJDQQ VHLQH *UQGH DQ]XIKUHQ DEHU VLH XQWHUEUDFK LKQ YRQ QHXHP ª$OOH KDOWHQ VLH GLFK IU HLQHQ 'XPPNRSIXQGEHWUJHQGLFK'XELVWJHVWHUQQDFKGHU6WDGW JHIDKUHQ LFK P|FKWH ZHWWHQ GX KDVW DXI GHQ .QLHQ JHOHJHQ XQG GLHVHQ 6FKXIW JHEHWHQ GLH ]HKQWDXVHQG 5XEHO DQ]XQHKPHQ©ª.HLQHVZHJVLFKKDEHJDUQLFKWGDUDQJHGDFKW ,FKKDEHLKQEHUKDXSWQLFKWEHVXFKWXQGDXHUGHPLVWHUNHLQ 6FKXIW,FKKDEHHLQHQ%ULHIYRQLKPHUKDOWHQ©ª=HLJLKQPDO KHU© 'HU )UVW QDKP HLQHQ =HWWHO DXV VHLQHU %ULHIWDVFKH XQG UHLFKWH LKQ /LVDZHWD 3URNRIMHZQD $XI GHP =HWWHO VWDQG ª*HHKUWHU+HUU,FKKDEHIUHLOLFKLQGHQ$XJHQGHU0HQVFKHQ QLFKW GDV JHULQJVWH 5HFKW (KUJHIKO ]X EHVLW]HQ 1DFK GHU 0HLQXQJ GHU /HXWH VWHKH LFK GD]X ]X QLHGULJ $EHU VR LVW GDV QXULQGHQ$XJHQGHU0HQVFKHQQLFKWLQGHQ,KULJHQ,FKELQ ]X GHU EHVWLPPWHQ hEHU]HXJXQJ JHODQJW GD 6LH JHHKUWHU +HUU EHVVHU VLQG DOV GLH DQGHUHQ ,FK ELQ GDULQ QLFKW 'RNWRUHQNRV 0HLQXQJ XQG XQVHUH $QVLFKWHQ JHKHQ KLHU DXVHLQDQGHU ,FK ZHUGH YRQ ,KQHQ QLH DXFK QXU HLQH .RSHNH DQQHKPHQDEHU6LHKDEHQPHLQH0XWWHUXQWHUVWW]WXQGGDIU PX LFK ,KQHQ GDQNEDU VHLQ ZHQQ DXFK QXU DXV 6FKZlFKH -HGHQIDOOVVHKHLFK6LHMHW]WPLWDQGHUHQ$XJHQDQXQGKLHOWHV IUQ|WLJ,KQHQGDVPLW]XWHLOHQ'HVZHLWHUHQDEHUELQLFKGHU $QVLFKW GD ]ZLVFKHQ XQV NHLQHUOHL %H]LHKXQJHQ PHKU EHVWHKHQN|QQHQ$QWLS%XUGRZVNLM 36 'LH DQ GHQ ]ZHLKXQGHUW 5XEHO IHKOHQGH 6XPPH ZLUG ,KQHQLP/DXIHGHU=HLWVLFKHU]XUFNJH]DKOWZHUGHQ©ª6RHLQ %O|GVLQQ© ULHI /LVDZHWD 3URNRIMHZQD QDFK GHP 'XUFKOHVHQ XQG ZDUI GHP )UVWHQ GDV %ODWW ZLHGHU KLQ ª(V ORKQWH QLFKW GLH0KHHVGXUFK]XOHVHQ:DVVFKPXQ]HOVWGX"©ª*HEHQ6LH GRFK ]X GD DXFK 6LH HV PLW 9HUJQJHQ JHOHVHQ KDEHQ©
ª:LH"'LHVHQYRQ(LWHONHLWWULHIHQGHQ*DOLPDWKLDV"6LHKVWGX GHQQ QLFKW GD GLHVH 0HQVFKHQ DOOH YRU 6WRO] XQG (LWHONHLW JHUDGH]XYHUUFNWJHZRUGHQVLQG"© ª-DDEHUHUKDWVLFKGRFK VFKXOGLJEHNDQQWKDWPLW'RNWRUHQNRJHEURFKHQXQGMHHLWOHU HU LVW XP VR VFKZHUHU PX GDV VHLQHU (LWHONHLW JHIDOOHQ VHLQ $FK ZDV VLQG 6LH IU HLQ NOHLQHV .LQG /LVDZHWD 3URNRIMHZQD©ª'XP|FKWHVWZRKOQRFKHLQH2KUIHLJHYRQPLU EHNRPPHQZDV"© ª1HLQGDV P|FKWH LFK QLFKW ,FK VDJH GDV ZHLO6LHVLFKEHUGHQ %ULHIIUHXHQXQGHVYHUEHUJHQ:DUXP VFKlPHQ 6LH VLFK ,KUHU (PSILQGXQJHQ" 6R PDFKHQ 6LH HV LPPHU© ª8QWHUVWHOO GLFK QLFKW MH ZLHGHU GHQ )X EHU PHLQH 6FKZHOOH ]X VHW]HQ© ULHI /LVDZHWD 3URNRIMHZQD XQG VSUDQJ EOD YRU =RUQ DXI ª/D GLFK QLH ZLHGHU EHL PLU EOLFNHQ© ª$EHU QDFK GUHL 7DJHQ ZHUGHQ 6LH VHOEVW KHUNRPPHQ XQG PLFK]XVLFKUXIHQ6LHVROOWHQVLFKVFKlPHQ'DVVLQGMD,KUH EHVWHQ (PSILQGXQJHQ ZDUXP VFKlPHQ 6LH VLFK LKUHU GHQQ" 6LHTXlOHQVLFKMDQXUVHOEVWGDPLW© ª(KHUVWHUEHLFK DOVGD LFKGLFKMHPDOVUXIH ,FKZHUGHGHLQHQ 1DPHQYHUJHVVHQ ,FK KDEHLKQYHUJHVVHQ© 6LH VWU]WH GDYRQ ª(V LVW PLU VRZLHVR VFKRQ YHUERWHQ ZRUGHQ]X,KQHQ]XJHKHQ©ULHILKUGHU)UVWQDFK ª:DDV" :HUKDWHVGLUYHUERWHQ"© 6LHZDQGWHVLFKDXJHQEOLFNOLFKXPDOVKlWWHVLHMHPDQGPLW HLQHU 1DGHO JHVWRFKHQ 'HU )UVW ]|JHUWH PLW GHU $QWZRUW HU PHUNWH GD HU VLFK XQYHUVHKHQV DEHU VHKU DUJ YHUSODSSHUW KDWWH ª:HU KDW HV GLU YHUERWHQ"© ULHI /LVDZHWD 3URNRIMHZQD ZWHQGª$JODMD,ZDQRZQDKDWHVPLUYHUERWHQ©ª:DQQ"6R UHGH GRFK© ª+HXWH YRUPLWWDJ KDW VLH PLU GLH :HLVXQJ ]XJHKHQ ODVVHQ LFK P|FKWH PLFK QLH ZLHGHU HUGUHLVWHQ ]X ,KQHQ]XNRPPHQ© /LVDZHWD 3URNRIMHZQD VWDQG ZLH YHUVWHLQHUW GD DEHU VLH EHUOHJWH ª:DVKDWVLHGLU JHVFKLFNW":HQKDWVLHJHVFKLFNW" 'HQGXPPHQ-XQJHQ"0LWHLQHUPQGOLFKHQ%HVWHOOXQJ"©ULHI
VLH SO|W]OLFK ZLHGHU ª,FK KDEH HLQ %LOOHWW HUKDOWHQ© YHUVHW]WH GHU)UVWª:RLVWHV"*LEHVKHU$XJHQEOLFNOLFK© 'HU)UVWEHUOHJWHHLQHQ$XJHQEOLFN]RJGDQQDEHUDXVGHU :HVWHQWDVFKH HLQ JHZ|KQOLFKHV 6WFNFKHQ 3DSLHU KHUDXV DXI GHPJHVFKULHEHQVWDQGª)UVW/HZ1LNRODMHZLWVFK:HQQ6LH QDFK DOOHP ZDV YRUJHIDOOHQ LVW EHDEVLFKWLJHQ VROOWHQ PLFK GXUFK HLQHQ %HVXFK LQ XQVHUHP /DQGKDXV LQ (UVWDXQHQ ]X YHUVHW]HQ VR P|JHQ 6LH ZLVVHQ GD LFK QLFKW ]X GHQMHQLJHQ JHK|UHQZHUGHGLHVLFKGDUEHUIUHXHQ$JODMD-HSDQWVFKLQD© /LVDZHWD 3URNRIMHZQD GDFKWH HLQ :HLOFKHQ QDFK GDQQ VWU]WH VLH SO|W]OLFK DXI GHQ )UVWHQ ]X HUJULII LKQ EHL GHU +DQGXQG]RJLKQKLQWHUVLFKKHUª.RPP6RIRUW1XQJHUDGH VRIRUW DXJHQEOLFNOLFK© ULHI VLH LQ HLQHP $QIDOO VWDUNHU (UUHJXQJXQG8QJHGXOGª$EHU6LHVHW]HQPLFKMDGHU*HIDKU DXV © ª:DV IU HLQHU *HIDKU" 'X KDUPORVHU 7URSI *HUDGH DOVREGXNHLQ0DQQZlUHVW1DMHW]WZHUGHLFKVHOEVWDOOHVPLW HLJHQHQ $XJHQ VHKHQ © ª$EHU ODVVHQ 6LH PLFK GRFK ZHQLJVWHQVPHLQHQ+XWQHKPHQ©ª'DLVWGHLQDEVFKHXOLFKHU 'HFNHO NRPP 'X KDVW QLFKW HLQPDO VRYLHO *HVFKPDFN JHKDEWGLUHLQHRUGHQWOLFKH)DVVRQDXV]XVXFKHQ'DVKDWVLH GDV KDW VLH QDFK GHP KHXWLJHQ LQ GHU $XIUHJXQJ© PXUPHOWH/LVDZHWD3URNRIMHZQDLQGHPVLHGHQ)UVWHQKLQWHU VLFK KHU]RJ XQG VHLQH +DQG NHLQHQ $XJHQEOLFN ORVOLH ª9RUKLQKDEHLFKGLFKQRFKYHUWHLGLJWXQGKDEHODXWHUNOlUWHV VHL GXPP YRQ GLU GD GX QLFKW NlPHVW 6RQVW KlWWH VLH MD DXFK QLFKW HLQHQ VR VLQQORVHQ %ULHI JHVFKULHEHQ (LQHQ VR XQSDVVHQGHQ %ULHI JDQ] XQSDVVHQG IU HLQ DQVWlQGLJHV ZRKOHU]RJHQHVNOXJHVNOXJHV0lGFKHQ+P©IXKUVLHIRUW ªQDWUOLFK KDW VLH VLFK VHOEVW GDUEHU JHlUJHUW GD GX QLFKW NDPVW XQG QXU QLFKW EHGDFKW GD PDQ VR DQ HLQHQ ,GLRWHQ QLFKW VFKUHLEHQ NDQQ ZHLO HU HV Z|UWOLFK DXIIDW ZLH HV MD DXFK JHVFKHKHQ LVW :DUXP KRUFKVW GX GHQQ"© ULHI VLH GD VLH PHUNWH GD VLH ]XYLHO JHVDJW KDWWH ª6LH EUDXFKW HLQHQ +DQVQDUUHQ ZLH GX HLQHU ELVW VR HLQHQ KDW VLH VFKRQ ODQJH
QLFKW JHVHKHQ GDUXP ODGHW VLH GLFK HLQ ]X NRPPHQ 8QG LFK IUHXH PLFK LFK IUHXH PLFK GD VLH GLFK MHW]W EHL GHQ 2KUHQ NULHJHQ ZLUG 'DV JHVFKLHKW GLU JDQ] UHFKW 8QG VLH YHUVWHKW GDVRKGDVYHUVWHKWVLHYRU]JOLFK©
'5,77(57(,/ , (V ZLUG EHL XQV IRUWZlKUHQG GDUEHU JHNODJW GD HV NHLQH SUDNWLVFKHQ 0HQVFKHQ JHEH 3ROLWLNHU ]XP %HLVSLHO JHEH HV HLQH 0HQJH GHVJOHLFKHQ HLQH 0HQJH YRQ *HQHUDOHQ DXFK N|QQHPDQ'LUHNWRUHQDOOHU$UWDXIGHU6WHOOHVRYLHOHILQGHQ DOV PDQ QXU LUJHQG ZROOH DEHU HV PDQJOH DQ SUDNWLVFKHQ 0HQVFKHQ :HQLJVWHQV LVW HV GLH DOOJHPHLQH .ODJH GD HV GDUDQ PDQJOH 6HOEVW EHL PDQFKHQ (LVHQEDKQHQ LVW ZLH PDQ VDJW NHLQ RUGHQWOLFKHV 3HUVRQDO YRUKDQGHQ EHL HLQHU 'DPSIVFKLIIDKUWVJHVHOOVFKDIW HLQH KDOEZHJV HUWUlJOLFKH 9HUZDOWXQJ ]XVDPPHQ]XEULQJHQ LVW ZLH HV KHLW HLQ 'LQJ GHU 8QP|JOLFKNHLW $Q HLQHU 6WHOOH VLQG ZLH PDQ K|UW DXI HLQHUQHXHU|IIQHWHQ6WUHFNHHLQSDDU=JH]XVDPPHQJHVWRHQ RGHUHLQSDDU:DJHQYRQHLQHU%UFNHKLQDEJHVWU]WDQHLQHU DQGHUQ6WHOOHKDWZLHPDQLQGHU=HLWXQJOLHVWHLQ=XJPLWWHQ LQ HLQHP 6FKQHHIHOG EHLQDK EHUZLQWHUQ PVVHQ GLH 3DVVDJLHUH ZDUHQ DEJHIDKUHQ LQ GHU (UZDUWXQJ GD GLH )DKUW HLQLJH 6WXQGHQ GDXHUQ ZUGH XQG PXWHQ IQI 7DJH LP 6FKQHH ]XEULQJHQ :LHGHU DQ HLQHU DQGHUQ 6WHOOH IDXOHQ ZLH HU]lKOW ZLUG YLHOH WDXVHQG 3XG :DUH DXI HLQ XQG GHPVHOEHQ )OHFN ]ZHL GUHL 0RQDWH ODQJ LQ (UZDUWXQJ GHV $EWUDQVSRUWV XQG GHU EHWUHIIHQGH ([SHGLHQW KDW ZLH PDQ K|UW HV LVW EULJHQVNDXP]XJODXEHQ GHPNDXIPlQQLVFKHQ.RPPLVGHU DXIGLH$EVHQGXQJVHLQHU:DUHGUDQJVWDWWVHLQ9HUODQJHQ]X HUIOOHQ HLQHQ 6FKODJ LQV *HVLFKW YHUVHW]W XQG GDQQ VHLQ %HQHKPHQ GDPLW HQWVFKXOGLJW GD HU VDJWH HU VHL ªLQ (LIHU JHUDWHQ© ,P 6WDDWVGLHQVW KDEHQ ZLU ZLH HV VFKHLQW VR YLHOH bPWHU GD HV HLQHP DQJVW XQG EDQJH ZLUG ZHQQ PDQ QXU
GDUDQ GHQNW DOOH /HXWH KDEHQ bPWHU EHNOHLGHW WXQ HV MHW]W RGHU EHDEVLFKWLJHQ HV ]X WXQ ZDUXP LVW HV GD QLFKW P|JOLFK DXV HLQHP VR JURHQ 0HQVFKHQPDWHULDO DQVWlQGLJHV 9HUZDO WXQJVSHUVRQDOIUHLQH'DPSIVFKLIIDKUWV±$NWLHQJHVHOOVFKDIW]X EHNRPPHQ" $XIGLHVH)UDJHZLUGPDQFKPDOHLQHVHKUHLQIDFKH $QWZRUW JHJHEHQ VR HLQIDFK GD HLQH VROFKH (UNOlUXQJ NDXP IU ULFKWLJ JHKDOWHQ ZHUGHQ NDQQ 0DQ VDJW QlPOLFK DOOHUGLQJV KDEHQEHLXQVDOOH/HXWHbPWHUEHNOHLGHWRGHUWXQHVQRFKXQG GLHVHU =XVWDQG GDXHUW QXQ QDFK GHP VFK|QVWHQ GHXWVFKHQ 9RUELOGVFKRQ]ZHLKXQGHUW-DKUHYRQGHQ8UJURYlWHUQELV]X GHQ 8UHQNHOQ DEHU JHUDGH GLH %HDPWHQ VLQG MD GLH XQSUDNWLVFKVWHQ0HQVFKHQXQGHVLVWVRZHLW JHNRPPHQ GD GDV UHLQ DEVWUDNWH :LVVHQ XQG GHU 0DQJHO DQ SUDNWLVFKHQ .HQQWQLVVHQVRJDUXQWHUGHQ%HDPWHQVHOEVWQRFKYRUNXU]HP IDVWDOVGLHJU|WH7XJHQGXQG(PSIHKOXQJJDOWhEULJHQVVLQG ZLU]ZHFNORVHUZHLVHDXIGLH%HDPWHQ]XVSUHFKHQJHNRPPHQ ZLU ZROOWHQ HLJHQWOLFK YRQ GHQ SUDNWLVFKHQ 0HQVFKHQ VSUHFKHQ$XIGLHVHP*HELHWXQWHUOLHJWHVNHLQHP=ZHLIHOGD 6FKFKWHUQKHLW XQG Y|OOLJHU 0DQJHO DQ HLJHQHU ,QLWLDWLYH GDXHUQG EHL XQV DOV GDV ZLFKWLJVWH XQG EHVWH 0HUNPDO HLQHV SUDNWLVFKHQ 0HQVFKHQ JHJROWHQ KDEHQ XQG VRJDU QRFK KHXW]XWDJH GDIU JHOWHQ $EHU ZR]X VROOHQ ZLU XQV EHVFKXOGLJHQ ± ZHQQ EHUKDXSW GLHVH 0HLQXQJ HLQH %HVFKXOGLJXQJ LVW 'HU 0DQJHO DQ 2ULJLQDOLWlW KDW EHUDOO LQ GHU JDQ]HQ :HOW YRQ GHQ 8U]HLWHQ KHU LPPHU DOV GLH YRU]JOLFKVWH (LJHQVFKDIW XQG EHVWH (PSIHKOXQJ HLQHV WFKWLJHQ *HVFKlIWVPDQQHV XQG 3UDNWLNHUV JHJROWHQ XQG PLQGHVWHQV QHXQXQGQHXQ]LJ 3UR]HQW GHU 0HQVFKHQ GDV LVW VRJDU QRFK VHKU QLHGULJ DQJHVHW]W VLQG LPPHU GLHVHU $QVLFKW JHZHVHQ XQG LPPHU QXU YLHOOHLFKW HLQ 3UR]HQW XUWHLOWH XQG XUWHLOWGDUEHUDQGHUV (UILQGHU XQG *HQLHV VLQG VHKU RIW EHLP %HJLQQ LKUHU /DXIEDKQ XQG VHKU RIW DXFK DP (QGH GHUVHOEHQ IU QLFKWV
DQGHUHV DOV 'XPPN|SIH JHKDOWHQ ZRUGHQ ± GDV LVW HLQH JDQ] JHOlXILJH %HREDFKWXQJ HLQH DOOJHPHLQ EHNDQQWH 7DWVDFKH :HQQ ]XP %HLVSLHO PHKUHUH -DKU]HKQWH ODQJ DOOH /HXWH LKU *HOG QDFK GHU /HLKEDQN WUXJHQ XQG 0LOOLDUGHQ GRUWKLQ ]XVDPPHQVFKOHSSWHQ GLH LKQHQ PLW YLHU 3UR]HQW YHU]LQVW ZXUGHQ VR PXWH VHOEVWYHUVWlQGOLFK DOV GLH /HLKEDQN DEJHVFKDIIW ZXUGH XQG DOOH VLFK DXI LKUH HLJHQH ,QLWLDWLYH DQJHZLHVHQ VDKHQ GHU JU|WH 7HLO MHQHU 0LOOLRQHQ XQIHKOEDU LP$NWLHQILHEHUXQGLQGHQ+lQGHQYRQ*DXQHUQXQWHUJHKHQ± XQG GDV IRUGHUWHQ VRJDU GHU $QVWDQG XQG GLH JXWH 6LWWH 1DPHQWOLFK GLH JXWH 6LWWH ZHQQ HLQH ZRKOJHVLWWHWH 6FKFKWHUQKHLW XQG HLQ JHK|ULJHU 0DQJHO DQ 2ULJLQDOLWlW EHL XQVELVKHUQDFKGHUDOOJHPHLQHQ$QVFKDXXQJHLQHXQHUOlOLFKH (LJHQVFKDIW HLQHV WFKWLJHQ RUGHQWOLFKHQ 0HQVFKHQ ELOGHWHQ VRZlUHHVJHUDGH]XXQJHK|ULJXQGXQVFKLFNOLFKVLFKSO|W]OLFK ]XDQGHUQ:HOFKH0XWWHU ]XP %HLVSLHO GLH LKU .LQG ]lUWOLFK OLHEW ZLUG QLFKW HLQHQ 6FKUHFN EHNRPPHQ XQG YRU $QJVW NUDQN ZHUGHQ ZHQQ LKU 6RKQ RGHU LKUH 7RFKWHU DXFK QXU HLQ ZHQLJ GDV JHZRKQWH *HOHLVH YHUOlW" ¾1HLQ½ GHQNW MHGH 0XWWHU GLH LKU .LQG LQ 6FKODI ZLHJW ¾PDJ HV OLHEHU RKQH 2ULJLQDOLWlW JOFNOLFK VHLQ XQG ]XIULHGHQ OHEHQ½ 8QG ZHQQ XQVHUH .LQGHUIUDXHQ GLH .LQGHU LQ GHU :LHJH VFKDXNHOQ VR VSUHFKHQ XQG VLQJHQ VLH GDEHL VHLW XQGHQNOLFKHQ =HLWHQ ª,Q JROGHQHQ.OHLGHUQZLUVWGXJHKHQ¾([]HOOHQ]½ZLUGPDQ]XGLU VDJHQ© 6RPLW JDOW DXFK EHL XQVHUHQ .LQGHUIUDXHQ GHU *HQHUDOVUDQJYRQMHKHUDOV*LSIHOSXQNWUXVVLVFKHQ*OFNVXQG ZDU DOVR GDV SRSXOlUVWH QDWLRQDOH ,GHDO HLQHV VFK|QHQ JHUXKVDPHQ VHOLJHQ 'DVHLQV 8QG LQ GHU 7DW ZHU GHU VHLQ ([DPHQ DXFK QXU PLWWHOPlLJ EHVWDQGHQ XQG GDQQ IQIXQGGUHLLJ -DKUH JHGLHQW KDWWH NRQQWH EHL XQV QLFKW VFKOLHOLFK ([]HOOHQ] ZHUGHQ XQG VLFK HLQH HUNOHFNOLFKH 6XPPH DXI GHU %DQN ]XVDPPHQVSDUHQ" $XI GLHVH :HLVH HUODQJWHGHU5XVVHIDVWRKQHDOOH$QVWUHQJXQJVFKOLHOLFKHLQH 6WHOOXQJ ZLH VLH HLJHQWOLFK QXU HLQHP WFKWLJHQ SUDNWLVFKHQ
0HQVFKHQ ]XNRPPW :DKUKDIWLJ GLH 8QP|JOLFKNHLW ([]HOOHQ]]XZHUGHQEHVWDQGEHLXQVQXUIUHLQHQRULJLQHOOHQ 0HQVFKHQ PLW DQGHUQ :RUWHQ IU HLQHQ XQUXKLJHQ .RSI 9LHOOHLFKW OLHJW KLHU ELV ]X HLQHP JHZLVVHQ *UDGH HLQ 0LYHUVWlQGQLV YRU DEHU LP DOOJHPHLQHQ VFKHLQW HV GRFK ]X]XWUHIIHQ XQG XQVHUH *HVHOOVFKDIW ZDU YROONRPPHQ EHUHFKWLJWVLFKLKU,GHDOHLQHVSUDNWLVFKHQ0HQVFKHQLQGLHVHU :HLVH]XJHVWDOWHQ ,QGHVVHQZLUKDEHQYLHO JHVDJWZDVQLFKW KLHUKHU JHK|UW ZLU ZROOWHQ HLJHQWOLFK QXU HLQ SDDU HUNOlUHQGH :RUWH EHU GLH XQV EHNDQQWH )DPLOLH -HSDQWVFKLQ HLQIJHQ 'LHVH /HXWH RGHU ZHQLJVWHQV GLHMHQLJHQ 0LWJOLHGHU GLHVHU )DPLOLH GLH DP PHLVWHQ ]XP 1DFKGHQNHQ YHUDQODJW ZDUHQ OLWWHQ VWlQGLJ DQ HLQHU LKQHQ IDVW DOOHQ JHPHLQVDPHQ )DPLOLHQHLJHQVFKDIW GLH GHQ 7XJHQGHQ EHU GLH ZLU VRHEHQ JHVSURFKHQ KDEHQ JHUDGH HQWJHJHQJHVHW]W ZDU 2KQH VLFK GLHVHU 7DWVDFKH Y|OOLJ EHZXW ]X VHLQ ZHLO GDV HEHQ VHLQH 6FKZLHULJNHLWHQ KDWWH KDWWHQ VLH GRFK PDQFKPDO GHQ $UJZRKQ GD LQ LKUHU )DPLOLH DOOHV DQGHUV ]XJHKH DOV EHL DQGHUQ/HXWHQ%HLDOOHQDQGHUQ/HXWHQJLQJHVJODWWEHLLKQHQ KDSHUWH HV DOOH DQGHUQ IXKUHQ LP KHUJHEUDFKWHQ *HOHLVH VLH GDJHJHQ VSUDQJHQ DOOH $XJHQEOLFNH DXV GHP *HOHLVH KHUDXV $OOHDQGHUQ ]HLJWHQ VWHWV HLQH ZRKODQVWlQGLJH 6FKFKWHUQKHLW VLH QLFKW /LVDZHWD 3URNRIMHZQD ZDU DOOHUGLQJV VRJDU LP hEHUPD lQJVWOLFK DEHU HV ZDU GLHV QLFKW MHQH ZRKO DQVWlQGLJH]XPJXWHQ7RQJHK|ULJH6FKFKWHUQKHLWGLHLKQHQ VRHUVWUHEHQVZHUWVFKLHQhEULJHQVZDU/LVDZHWD3URNRIMHZQD YLHOOHLFKW GLH HLQ]LJH GLH VLFK GDUEHU EHXQUXKLJWH GLH 0lGFKHQZDUHQQRFKMXQJ±ZHQQDXFKHLQVHKUVFKDUIVLQQLJHV 9|ONFKHQ PLW 1HLJXQJ ]XU ,URQLH ZlKUHQG GHU *HQHUDO ]ZDU 9HUVWlQGQLV EHVD DOOHUGLQJV HLQ ODQJVDPHV XQG VFKZHUIlOOLJHV LQ VFKZLHULJHQ )lOOHQ DEHU QXU ª+P© VDJWH XQG VFKOLHOLFK VHLQH JDQ]H =XYHUVLFKW DXI /LVDZHWD 3URNRIMHZQD VHW]WH $XI LKU UXKWH DOVR GLH 9HUDQWZRUWXQJ 1LFKWDOVREGLHVH)DPLOLHVLFKGXUFKLUJHQGZHOFKHEHVRQGHUH
,QLWLDWLYH DXVJH]HLFKQHW KlWWH RGHU LQIROJH HLQHV EHZXWHQ +DQJHV]XU2ULJLQDOLWlWDXVGHP*HOHLVHJHVSUXQJHQZlUHZDV VLFK MD IUHLOLFK PLW GHU 6FKLFNOLFKNHLW JDQ] XQG JDU QLFKW YHUWUDJHQ KlWWH 2 QHLQ 'DV ZDU ZLUNOLFK QLFKW GHU )DOO GDV KHLW HV ODJ EHL LKQHQ NHLQH EHZXWH $EVLFKW YRU DEHU GHQQRFK NDP HV VFKOLHOLFK VR KHUDXV GD GLH )DPLOLH -HSDQWVFKLQWURW]DOOLKUHU5HVSHNWDELOLWlWYRQDQGHUHU$UWZDU DOV UHVSHNWDEOH )DPLOLHQ VHLQ PVVHQ ,Q OHW]WHU =HLW KDWWH /LVDZHWD 3URNRIMHZQD DQJHIDQJHQ GLH 6FKXOG DQ DOOHGHP OHGLJOLFK VLFK XQG LKUHP ªXQJOFNOLFKHQ© &KDUDNWHU EHL]XPHVVHQZRGXUFKLKUH/HLGHQQXUQRFKYHUPHKUWZXUGHQ 6LHVHOEVWQDQQWHVLFKDOOH$XJHQEOLFNHªHLQHGXPPHWDNWORVH 3HUVRQ HLQH YHUGUHKWH 6FKUDXEH© TXlOWH VLFK PLW LKUHP 0LWUDXHQ ZDU EHVWlQGLJ DXHU VLFK IDQG EHL JDQ] JHZ|KQOLFKHQ 'LQJHQ GLH LKU ]XVWLHHQ NHLQHQ $XVZHJ XQG EHUWULHEIRUWZlKUHQGGDV8QJOFN 6FKRQ]X%HJLQQXQVHUHU(U]lKOXQJKDEHQZLUHUZlKQWGD -HSDQWVFKLQV VLFK DOOJHPHLQHU DXIULFKWLJHU +RFKDFKWXQJ HUIUHXWHQ 6RJDU GHU *HQHUDO ,ZDQ )MRGRURZLWVFK VHOEVW HLQ 0DQQ YRQ JHULQJHU +HUNXQIW ZXUGH EHUDOO RKQH :LGHUVWUHEHQ DFKWXQJVYROO HPSIDQJHQ 'LHVH $FKWXQJ YHUGLHQWHHUHUVWHQVZHJHQVHLQHV5HLFKWXPVXQGVHLQHUKRKHQ 6WHOOXQJ XQG ]ZHLWHQV DOV HLQ GXUFKDXV RUGHQWOLFKHU ZHQQ DXFK QLFKW JHLVWUHLFKHU 0DQQ $EHU HLQH JHZLVVH 6WXPSIKHLW GHV *HLVWHV ELOGHW MD ZLH HV VFKHLQW HLQH QRWZHQGLJH (LJHQVFKDIWZHQQQLFKWHLQHVMHGHQSUDNWLVFKWlWLJHQ0DQQHV VR GRFK ZHQLJVWHQV HLQHV MHGHQ GHU HUQVWOLFK DXI *HOGHUZHUE EHGDFKW LVW (QGOLFK EHVD GHU *HQHUDO JXWH 0DQLHUHQ ZDU EHVFKHLGHQ YHUVWDQG ]X VFKZHLJHQ JOHLFK]HLWLJ DEHU DXFK VLFK QLFKWV ELHWHQ ]X ODVVHQ XQG ]ZDU QLFKW DOOHLQ PLW 5FNVLFKW DXI VHLQHQ *HQHUDOVUDQJ VRQGHUQ DXFK DOV HKUHQKDIWHUDQVWlQGLJHU0HQVFK'DVDOOHUZLFKWLJVWHZDUGD HUVLFKVWDUNHU3URWHNWLRQHUIUHXWH:DV/LVDZHWD3URNRIMHZQD DQODQJWVRVWDPPWHVLHZLHVFKRQREHQ GDUJHOHJW DXV HLQHP
YRUQHKPHQ *HVFKOHFKW REZRKO PDQ EHL XQV DXI VROFKH +HUNXQIWNHLQHQJURHQ:HUWOHJWZHQQQLFKWGLHQRWZHQGLJHQ 9HUELQGXQJHQKLQ]XNRPPHQ$EHUDXFKDQGHQHQIHKOWHHVLKU QLFKW VLH ZXUGH YRQ VR KRKHQ 3HUV|QOLFKNHLWHQ JHDFKWHW MD JHOLHEW GD QDWUOLFK DXFK DOOH DQGHUQ VLH GHPHQWVSUHFKHQG DFKWHQ XQG HPSIDQJHQ PXWHQ (V XQWHUOLHJW NHLQHP =ZHLIHO GDLKUH4XDOHQEH]JOLFKLKUHU)DPLOLHNHLQHQUHFKWHQ$QOD KDWWHQ HLQHU HUQVWHQ 8UVDFKH HQWEHKUWHQ XQG LQ NRPLVFKHU :HLVHEHUWULHEHQZDUHQDEHUZHQQMHPDQGDXIGHU1DVHRGHU DXI GHU 6WLUQ HLQH :DU]H KDW VR PHLQW HU LPPHU DOOH /HXWH KlWWHQ DXI GHU :HOW QLFKWV DQGHUHV ]X WXQ DOV VHLQH :DU]H DQ]XVHKHQ GDUEHU ]X VSRWWHQ XQG LKQ GHVZHJHQ JHULQJ]XVFKlW]HQ VHOEVW ZHQQ HU VLFK GXUFK GLH (QWGHFNXQJ YRQ$PHULNDYHUGLHQWJHPDFKWKlWWH(VLVWDXFKQLFKWGDUDQ]X ]ZHLIHOQ GD PDQ LQ GHU *HVHOOVFKDIW /LVDZHWD 3URNRIMHZQD ZLUNOLFK IU HLQH ªYHUGUHKWH 6FKUDXEH© KLHOW LQGHV JHQR VLH WURW]GHP XQVWUHLWLJ DOOH $FKWXQJ DEHU /LVDZHWD 3URNRIMHZQD PRFKWH]XOHW]WDQGLHVH$FKWXQJQLFKWPHKUJODXEHQ±XQGGDV ZDU GDV JDQ]H 8QJOFN :HQQ VLH LKUH 7|FKWHU DQVDK VR TXlOWH VLH VLFK PLW GHP 9HUGDFKW VLH VFKlGLJH IRUWZlKUHQG GHUHQ /HEHQVZHJ GXUFK LUJHQG HWZDV VLH KDEH HLQHQ OlFKHUOLFKHQWDNWORVHQXQHUWUlJOLFKHQ&KDUDNWHUXQGQDWUOLFK EHVFKXOGLJWHVLHGHVZHJHQXQDXIK|UOLFKLKUH7|FKWHUXQG,ZDQ )MRGRURZLWVFK XQG ]DQNWH VLFK JDQ]H 7DJH ODQJ PLW LKQHQ KHUXPREZRKOVLHVLHJOHLFK]HLWLJOHLGHQVFKDIWOLFKXQGELV]XU 6HOEVWYHUJHVVHQKHLWOLHEWH $PPHLVWHQTXlOWHVLHGLH%HIUFKWXQJLKUH7|FKWHUN|QQWHQ HEHQVR ªYHUGUHKWH 6FKUDXEHQ© ZHUGHQ ZLH VLH VROFKH 0lGFKHQ ZLH GLH LKULJHQ PHLQWH VLH JHEH HV DXI GHU JDQ]HQ :HOWQLFKWPHKUXQGN|QQHHVDXFKJDUQLFKWPHKUJHEHQ¾6LH ZHUGHQ GLH UHLQHQ 1LKLOLVWLQQHQ GDV LVW¶V½ VDJWH VLH VLFK DOOH $XJHQEOLFNH,POHW]WHQ-DKUXQGEHVRQGHUVLQGHUDOOHUOHW]WHQ =HLWKDWWHVLFKGLHVHUWUDXULJH*HGDQNHLPPHUPHKUXQGPHKU EHLLKUIHVWVHW]W¾(UVWHQVZDUXPKHLUDWHQVLHQLFKW"½IUDJWHVLH
VLFKIRUWZlKUHQG¾8PLKUH0XWWHU]XlUJHUQ±GDULQVHKHQVLH LKUHQ /HEHQV]ZHFN XQG GDV NRPPW QDWUOLFK DOOHV YRQ GHQ QHXHQ ,GHHQ XQG GHU YHUGDPPWHQ )UDXHQIUDJH .DP QLFKW $JODMD YRU HLQHP KDOEHQ -DKU DXI GHQ (LQIDOW VLFK LKU SUlFKWLJHV +DDU DE]XVFKQHLGHQ" 2 *RWW VROFKHV +DDU KDEH LFK LQ PHLQHU -XJHQG QLFKW JHKDEW 6LH KDWWH VRJDU VFKRQ GLH 6FKHUH LQ GHU +DQG XQG LFK KDEH VLH DXI GHQ .QLHQ ELWWHQ PVVHQHV]XODVVHQ1DGLHKDWGDVDOOHUGLQJVDXV%RVKHLW JHWDQ XP LKUH 0XWWHU ]X TXlOHQ GHQQ VLH LVW HLQ ERVKDIWHV HLJHQZLOOLJHV YHU]RJHQHV 0lGFKHQ YRU DOOHP ERVKDIW ERVKDIWERVKDIW$EHUZROOWHQLFKWGLHGLFNH$OH[DQGUDHVLKU QDFKPDFKHQXQGVLFKHEHQIDOOVLKUH=RWWHOQDEVFKQHLGHQ"8QG GLH QLFKW DXV %RVKHLW XQG /DXQH VRQGHUQ LQ DXIULFKWLJHU 'XPPKHLW ZHLO $JODMD LKU HLQJHUHGHW KDWWH VLH ZHUGH RKQH +DDU EHVVHU VFKODIHQ XQG NHLQH .RSIVFKPHU]HQ PHKU KDEHQ 8QG ZLH YLHOH YLHOH %HZHUEHU KDEHQ VLH QLFKW LQ GLHVHQ IQI -DKUHQ JHKDEW" 8QG HV ZDUHQ GRFK ZLUNOLFK QHWWH 0lQQHU GDUXQWHU VRJDU JDQ] SUlFKWLJH 0lQQHU :RUDXI ZDUWHQ VLH GHQQQRFK":DUXPKHLUDWHQVLHQLFKW"1XUXPLKUH0XWWHU]X lUJHUQ±GDVLVWGHUHLQ]LJH*UXQG'HUHLQ]LJH'HUHLQ]LJH½ (QGOLFKJLQJQXQDXFKIU LKU 0XWWHUKHU] GLH )UHXGHQVRQQH DXI HV ZDU $XVVLFKW GD ZHQLJVWHQV HLQH 7RFKWHU $GHODLGD HQGOLFK XQWHU GLH +DXEH NRPPHQ ZUGH ª:HQLJVWHQV HLQH ZHUGH LFK ORVZHUGHQ© VDJWH /LVDZHWD 3URNRIMHZQD ZHQQ HV VLFKWUDIGDVLHODXWGDUEHUVSUDFKLPVWLOOHQIUVLFKGUFNWH VLH VLFK VHKU YLHO ]lUWOLFKHU DXV 8QG LQ ZLH QHWWHU VFKLFNOLFKHU:HLVHVLFKGLHJDQ]H6DFKHJHPDFKWKDWWHVHOEVW LQGHQ.UHLVHQGHUYRUQHKPHQ:HOWZXUGHGDYRQPLW$FKWXQJ JHVSURFKHQ 'HU %UlXWLJDP ZDU HLQH DOOJHPHLQ EHNDQQWH 3HUV|QOLFKNHLW HLQ )UVW PLW EHGHXWHQGHP 9HUP|JHQ HLQ JXWHU 0HQVFK XQG LKU YRQ +HU]HQ ]XJHWDQ ZDV NRQQWH PDQ VLFK %HVVHUHV GHQNHQ" $EHU ZHJHQ $GHODLGD KDWWH VLH DXFK IUKHU ZHQLJHU %HIUFKWXQJHQ JHKHJW DOV ZHJHQ GHU DQGHUQ 7|FKWHUREZRKOLKUHNQVWOHULVFKHQ1HLJXQJHQGHPVWHWVYRQ
=ZHLIHOQ JHSODJWHQ 0XWWHUKHU]HQ /LVDZHWD 3URNRIMHZQDV PDQFKPDO EHGHQNOLFK JHZHVHQ ZDUHQ ¾'DIU KDW VLH HLQ KHLWHUHV *HPW XQG DXHUGHP YLHO 9HUVWDQG ± DOVR ZLUG GDV 0lGFKHQ QLFKW ]XJUXQGH JHKHQ½ WU|VWHWH VLH VLFK VFKOLHOLFK 8P $JODMD lQJVWLJWH VLH VLFK DP DOOHUPHLVWHQ %HLOlXILJ JHVDJWZDV GLH bOWHVWH $OH[DQGUD EHWUDI VR ZXWH /LVDZHWD 3URNRIMHZQDVHOEVWQLFKWZLHVLHVLFKEHLLKU YHUKDOWHQ VROOWH VROOWH VLH VLFK XP VLH lQJVWLJHQ RGHU QLFKW" 0DQFKPDO VFKLHQ HV LKU DOV VHL PLW GHP 0lGFKHQ ªVFKRQ DOOHV YRUEHL© IQIXQG]ZDQ]LJ -DKUH DOW DOVR ZUGH VLH VLW]HQEOHLEHQ ¾8QG EHL VROFKHU 6FK|QKHLW½ /LVDZHWD 3URNRIMHZQD ZHLQWH VRJDU QDFKWV XP VLH ZlKUHQG $OH[DQGUD ,ZDQRZQD ]XU VHOEHQ =HLW VHKUUXKLJVFKOLHI¾:DVLVWVLHGHQQHLJHQWOLFK"(LQH1LKLOLVWLQ RGHUHLQIDFKGXPP"½'DVLHEULJHQVQLFKWGXPPZDUGDYRQ ZDUDXFK /LVDZHWD3URNRIMHZQDGXUFKDXVEHU]HXJW VLH OHJWH DXI $OH[DQGUD ,ZDQRZQDV 8UWHLO KRKHQ :HUW XQG EHULHW VLFK JHUQPLWLKU$EHUGDVLH HLQ ªEHJRVVHQHV +XKQ© ZDU GDUDQ NRQQWH NHLQ =ZHLIHO VHLQ ¾6LH LVW YRQ HLQHU VROFKHQ 6HHOHQUXKHGDPDQVLHJDUQLFKWDXIUWWHOQNDQQhEULJHQVLVW HV PLW GHU 6HHOHQUXKH DXFK EHL VROFKHQ EHJRVVHQHQ +KQHUQ PDQFKPDO QLFKW ZHLW KHU ±QD ,FK ELQ DQ PHLQHQ 7|FKWHUQ ZLUNOLFKJDQ]LUUHJHZRUGHQ½/LVDZHWD3URNRIMHZQDHPSIDQG IU $OH[DQGUD ,ZDQRZQD HLQH $UW XQHUNOlUOLFKHU PLWOHLGLJHU 6\PSDWKLH VRJDU LQ QRFK K|KHUHP *UDGH DOV IU $JODMD GLH LKU$EJRWWZDU$EHULKUHJDOOLJHQ%HPHUNXQJHQLQGHQHQLP ZHVHQWOLFKHQ QXU LKUH PWWHUOLFKH 6RUJH XQG /LHEH ]XP $XVGUXFNNDPHQ LKUH6WLFKHOHLHQXQGVROFKH %H]HLFKQXQJHQ ZLH ªHLQ EHJRVVHQHV +XKQ© EUDFKWHQ $OH[DQGUD QXU ]XP /DFKHQ (V NDP PLWXQWHU VR ZHLW GD /LVDZHWD 3URNRIMHZQD EHU GLH QLFKWLJVWHQ 'LQJH IXUFKWEDU ]RUQLJ ZXUGH XQG DXHU VLFK JHULHW 6R ]XP %HLVSLHO OLHEWH $OH[DQGUD ,ZDQRZQD HV ODQJH ]X VFKODIHQ ZREHL VLH YLHO WUlXPWH DEHU LKUH 7UlXPH ]HLFKQHWHQ VLFK VWHWV GXUFK DXHURUGHQWOLFKH +DUPORVLJNHLW XQG1DLYLWlWDXVJDQ]ZLHEHLHLQHPVLHEHQMlKULJHQ.LQGXQG
QXQ KDWWH VRJDU GLHVH 1DLYLWlW GHU 7UlXPH GLH :LUNXQJ GLH 0DPD LQ HLQH JHUHL]WH 6WLPPXQJ ]X YHUVHW]HQ (LQPDO KDWWH $OH[DQGUD,ZDQRZQDYRQQHXQ+HQQHQJHWUlXPWXQGKLHUDXV HQWVWDQG HLQ UHJHOUHFKWHU 6WUHLW ]ZLVFKHQ LKU XQG GHU 0XWWHU ZDUXP ZDU VFKZHU ]X VDJHQ (LQ DQGHUPDO QXU HLQ HLQ]LJHV 0DO JOFNWH HV LKU GD VLH HLQHQ HLQLJHUPDHQ RULJLQHOOHQ 7UDXPKDWWHVLHWUlXPWH YRQ HLQHP 0|QFK LQ HLQHP GXQNOHQ =LPPHU LQ ZHOFKHV KLQHLQ]XJHKHQ VLH VLFK IUFKWHWH 'HU 7UDXP ZXUGH YRQ GHQ EHLGHQ DQGHUQ 6FKZHVWHUQ VRIRUW XQWHU JURHP *HOlFKWHU WULXPSKLHUHQG /LVDZHWD 3URNRIMHZQD PLWJHWHLOW DEHU GLH 0DPD ZXUGH ZLHGHU lUJHUOLFK XQG QDQQWH VLH DOOH GUHL 'XPPN|SIH ¾+P 6LH EHVLW]W GLH 6HHOHQUXKH HLQHV 'XPPNRSIHV VLH LVW YROOVWlQGLJ HLQ EHJRVVHQHV +XKQ XQG OlW VLFK QLFKW DXIUWWHOQ DEHU GDEHL LVW VLH GRFK WUDXULJ XQGVLHKWPDQFKPDOJDQ]WUEVHOLJDXV:RUEHUPDJVLHVLFK JUlPHQ" -D ZRUEHU"½ 0LWXQWHU ULFKWHWH VLH GLHVH )UDJH DXFK DQ ,ZDQ )MRGRURZLWVFK XQG ]ZDU ZLH LPPHU LQ K\VWHULVFKHU (UUHJXQJ LQ GURKHQGHP 7RQ XQG LQ (UZDUWXQJ HLQHU XQYHU]JOLFKHQ$QWZRUW ,ZDQ )MRGRURZLWVFK VDJWH ª+P© PDFKWH HLQ ILQVWHUHV *HVLFKW ]XFNWH PLW GHQ 6FKXOWHUQ XQG JDE HQGOLFK GLH $UPH DXVEUHLWHQG VHLQ 8UWHLO GDKLQ DE ª6LH EUDXFKW HLQHQ 0DQQ© ª1XU ZROOH *RWW LKU QLFKW HLQHQ VROFKHQ EHVFKHUHQ ZLH 6LH HLQHU VLQG ,ZDQ )MRGRU\WVFK© H[SORGLHUWH /LVDZHWD 3URNRIMHZQD SO|W]OLFK ZLH HLQH %RPEH ª1LFKW HLQHQ PLW VROFKHQ $QVFKDXXQJHQ XQG 8UWHLOHQ ZLH 6LH ,ZDQ )MRGRU\WVFK QLFKW HLQHQ VROFKHQ *URELDQ ZLH 6LH ,ZDQ )MRGRU\WVFK© ,ZDQ )MRGRURZLWVFK PDFKWH VFKOHXQLJVW GD HU GDYRQNDP XQG /LVDZHWD 3URNRIMHZQD EHUXKLJWH VLFK QDFK GLHVHU ([SORVLRQ6HOEVWYHUVWlQGOLFKZDUVLH DP $EHQG GLHVHV 7DJHV EHVRQGHUV OLHEHQVZUGLJ VDQIW IUHXQGOLFK XQG UHVSHNWYROO JHJHQ ,ZDQ )MRGRURZLWVFK JHJHQ LKUHQ ªJUREHQ *URELDQ© ,ZDQ )MRGRURZLWVFK JHJHQ LKUHQ JXWHQ OLHEHQ YHUJ|WWHUWHQ
,ZDQ)MRGRURZLWVFKGHQQLQ:LUNOLFKNHLWOLHEWHVLHLKUHQ,ZDQ )MRGRURZLWVFK LKU JDQ]HV /HEHQ ODQJ MD VLH ZDU LQ LKQ VRJDU YHUOLHEWZDV,ZDQ)MRGRURZLWVFKVHOEVWJHQDXZXWHGHUDXFK VHLQHUVHLWV VHLQH /LVDZHWD 3URNRIMHZQD DXHURUGHQWOLFK KRFKVFKlW]WH $EHU GLH lUJVWH 4XDO EHUHLWHWH LKU EHVWlQGLJ $JODMD ¾6LHLVWJDQ]DEHUDXFKJDQ]ZLHLFKPHLQ(EHQELOGLQMHGHU %H]LHKXQJ½ VDJWH /LVDZHWD 3URNRIMHZQD EHL VLFK LP VWLOOHQ ¾HLQHLJHQZLOOLJHUDEVFKHXOLFKHU8QKROG(LQH1LKLOLVWLQHLQH YHUGUHKWH 6FKUDXEH YHUUFNW ERVKDIW ERVKDIW ERVKDIW 2 *RWWZLHXQJOFNOLFKZLUGVLHZHUGHQ½ $EHU ZLH VFKRQ JHVDJW GLH DXIJHKHQGH )UHXGHQVRQQH EHVlQIWLJWHXQGHUKHOOWHDOOHVIUHLQH:HLOH,QIROJHGHVVHQJDE HV LQ /LVDZHWD 3URNRIMHZQDV /HEHQ IDVW HLQHQ JDQ]HQ 0RQDW LQ GHP VLH VLFK YRQ DOOHU 8QUXKH ZLHGHU Y|OOLJ HUKROWH $QOlOLFKGHUQDKHEHYRUVWHKHQGHQ+RFK]HLW$GHODLGDVZXUGH LQ GHQ YRUQHKPHQ .UHLVHQ DXFK EHU $JODMD YLHO JHVSURFKHQ XQGGDEHLEHQDKPVLFK$JODMDEHUDOOJDQ]YRUWUHIIOLFKUXKLJ YHUVWlQGLJ DXFK HWZDV VLHJHVJHZL XQG VWRO] DEHU GDV VWDQG LKUMDJHUDGHJXW'HQJDQ]HQ0RQDWZDUVLHVRIUHXQGOLFKXQG OLHEHQVZUGLJ ]X LKUHU 0XWWHU ¾$OOHUGLQJV GLHVHQ -HZJHQLM 3DZORZLWVFKPXPDQVLFKQRFKVHKUVHKUJHQDXDQVHKHQXQG JUQGOLFK NHQQHQOHUQHQ $JODMD VFKHLQW MD DXFK DQ LKP QLFKW VHKUYLHOPHKU*HIDOOHQ]XILQGHQDOVDQDQGHUQ½ 6LHZDUDXI HLQPDO HLQ VR SUlFKWLJHV 0lGFKHQ JHZRUGHQ XQG ZLH VFK|Q VLHZDUR*RWWZLHVFK|QYRQ7DJ]X7DJZXUGHVLHVFK|QHU 8QGGD 8QG GD ZDU QXQ VRHEHQ GLHVHU JUlOLFKH )UVW ZLHGHU HUVFKLHQHQ GLHVHU MlPPHUOLFKH ,GLRW XQG DOOHV ZDU ZLHGHU LQ 8QUXKH JHUDWHQ DOOHV LP +DXVH JLQJ ZLHGHU GUXQWHU XQG GUEHU:DVZDUGHQQHLJHQWOLFKJHVFKHKHQ" $QGHUH KlWWHQ ZRKO NDXP JHVSUW GD HWZDV %HVRQGHUHV YRUJHJDQJHQ ZDU $EHU /LVDZHWD 3URNRIMHZQD ]HLFKQHWH VLFK HEHQ GDGXUFK DXV GD VLH LQ GHP EXQWHQ 'XUFKHLQDQGHU GHU
JHZ|KQOLFKVWHQ 'LQJH EHL LKUHU VWHWHQ 8QUXKH LPPHU HWZDV KHUDXVIDQGZDVVLHPDQFKPDOPLWHLQHUJHUDGH]XNUDQNKDIWHQ $QJVW PLW HLQHU XQHUNOlUOLFKHQ DUJZ|KQLVFKHQ XQG LQIROJHGHVVHQK|FKVWSHLQOLFKHQ)XUFKWHUIOOWH:LHPXWHLKU GD ]XPXWH VHLQ DOV MHW]W SO|W]OLFK DXV GHU JDQ]HQ ZVWHQ 0HQJH OlFKHUOLFKHU XQEHJUQGHWHU %HIUFKWXQJHQ ZLUNOLFK HWZDV KHUDXVVFKDXWH ZDV WDWVlFKOLFK ZLFKWLJ ]X VHLQ VFKLHQ HWZDV ZDV WDWVlFKOLFK ]X %HXQUXKLJXQJ =ZHLIHO XQG $UJZRKQ$QODJDE ¾:LH KDW QXU MHPDQG ZDJHQ N|QQHQ ZLH KDW QXU MHPDQG ZDJHQ N|QQHQ PLU GLHVHQ YHUGDPPWHQ DQRQ\PHQ %ULHI EHU GLHVH .UHDWXU ]X VFKUHLEHQ PLU ]X VFKUHLEHQ GD VLH PLW $JODMD%H]LHKXQJHQXQWHUKDOWH"½GDFKWH/LVDZHWD3URNRIMHZQD DXI GHP JDQ]HQ :HJ ZlKUHQG VLH GHQ )UVWHQ KLQWHU VLFK KHU]RJ XQG ]X +DXVH DOV VLH LKQ DQ GHP UXQGHQ 7LVFK 3ODW] QHKPHQOLHXPGHQGLHJDQ]H)DPLOLHYHUVDPPHOWZDU¾:LH NRQQWH VLFK MHPDQG HUGUHLVWHQ VR HWZDV QXU ]X GHQNHQ" ,FK PWHPLFKMDWRWVFKl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|FKWHU ZHUGHQ PLW KLQHLQJH]RJHQ ,ZDQ )MRGRU\WVFK MXQJH 'DPHQ GLH ]XU EHVWHQ *HVHOOVFKDIW JHK|UHQ XQG LQ KHLUDWVIlKLJHP $OWHU VWHKHQ GLH VLQG GD PLW GDEHLJHZHVHQ
(LQH1HZD,QVHOQ|UGOLFKYRQ3HWHUVEXUJ
KDEHQGDEHLJHVWDQGHQKDEHQDOOHVPLWDQJHK|UWXQGDXFKEHL GHU *HVFKLFKWH PLW GHQ GXPPHQ %XUVFKHQ VLQG VLH ]XJHJHQ JHZHVHQ ± IUHXHQ 6LH VLFK GRFK ± DXFK GD VLQG VLH GDEHLJHZHVHQ XQG KDEHQ ]XJHK|UW ,FK ZHUGH GDV GLHVHP 0HQVFKHQGHP )UVWHQQLFKWYHU]HLKHQQHLQ QLHPDOV ZHUGH LFKLKPGDVYHU]HLKHQ8QGZDUXPLVW$JODMDGUHL7DJHODQJVR QHUY|V JHZHVHQ ZDUXP KDW VLH VLFK PLW LKUHQ 6FKZHVWHUQ JH]DQNW VRJDU PLW $OH[DQGUD GHU VLH VRQVW LPPHU ZLH HLQHU 0XWWHUGLH+lQGH JHNWKDW±VRKDWVLH VLH YHUHKUW" :DUXP JLEWVLHVHLWGUHL7DJHQXQVDOOHQ5lWVHO DXI":DVKDWGDVPLW *DZULOD,ZROJLQ]XEHGHXWHQ":LHNDPVLHJHVWHUQXQGKHXWH GDUDXI *DZULOD ,ZROJLQ ]X OREHQ XQG EUDFK GDQQ LQ 7UlQHQ DXV":DUXPZLUGLQGLHVHPDQRQ\PHQ%ULHIGLHVHUYHUGDPPWH ¾DUPH 5LWWHU½ HUZlKQW Zl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|QQHQ 2 *RWW ZDV IDVHOH LFK GD 3IXL :LU VLQG GLH UHLQHQ 2ULJLQDOH PDQ PWH XQV DOOH XQWHU *ODV DXVVWHOOHQ PLFK ]XHUVW IU ]HKQ .RSHNHQ (LQWULWWVSUHLV 'DV ZHUGH LFK ,KQHQ QLFKW YHU]HLKHQ ,ZDQ )MRGRU\WVFK QLHPDOV ZHUGH LFK ,KQHQ GDV YHU]HLKHQ 8QG ZDUXP QLPPW VLH LKQ VLFK MHW]W QLFKW JHK|ULJ YRU" 6LH KDWWH JHVDJW GD VLH GDV WXQ ZROOH XQG QXQ WXWVLHHVQLFKW'DGDVLHVLHKWLKQPLWZHLWJH|IIQHWHQ$XJHQ DQVFKZHLJWJHKWQLFKWZHJEOHLEWGDXQGGDEHLKDWWHVLHLKP GRFK VHOEVW YHUERWHQ KHU]XNRPPHQ (U VLW]W JDQ] EOD GD 8QG GLHVHU YHUGDPPWH YHUGDPPWH 6FKZlW]HU -HZJHQLM
3DZORZLWVFK KDW GDV JDQ]H *HVSUlFK DQ VLFK JHULVVHQ 6LHK PDO ZLH LKP GDV 0XQGZHUN JHKW NHLQHQ DQGHUQ OlW HU ]X :RUWHNRPPHQ,FKZUGHDOOHVVRIRUWHUIDKUHQZHQQLFKQXU GLH5HGHGDUDXIEULQJHQN|QQWH© 'HU)UVWVDWDWVlFKOLFKJDQ]EODDQGHPUXQGHQ7LVFKXQG VFKLHQ VLFK JOHLFK]HLWLJ LQ JURHU $QJVW XQG IU $XJHQEOLFNH LQ HLQHP LKP VHOEVW XQEHJUHLIOLFKHQ (QW]FNHQ ]X EHILQGHQ GDVVHLQH6HHOHHUJULIIHQKDWWH2KZLHHUVLFKIUFKWHWHQDFK MHQHU 6HLWH KLQ]XVHKHQ QDFK MHQHP :LQNHO YRQ ZR ]ZHL ZRKOEHNDQQWH VFKZDU]H $XJHQ EHKDUUOLFK DXI LKQ JHULFKWHW ZDUHQXQGZLHHUJOHLFK]HLWLJIDVWYHUJLQJYRU*OFNVHOLJNHLW GDUEHU GD HU KLHU ZLHGHU XQWHU LKQHQ VD XQG GLH ZRKOEHNDQQWH 6WLPPH K|UWH ± WURW] DOOHP ZDV VLH LKP JHVFKULHEHQKDWWH¾2*RWWZDVZLUGVLHMHW]WVDJHQ½(UVHOEVW KDWWH QRFK NHLQ HLQ]LJHV :RUW JHVSURFKHQ XQG K|UWH PLW $QVWUHQJXQJ GHP XQDXIKDOWVDP UHGHQGHQ -HZJHQLM 3DZORZLWVFK ]X GHU VLFK VHOWHQ LQ VR ]XIULHGHQHU DQJHUHJWHU 6WLPPXQJ EHIXQGHQ KDWWH ZLH MHW]W DQ GLHVHP $EHQG 'HU )UVW K|UWH LKQ ODQJH UHGHQ XQG YHUVWDQG NDXP HLQ :RUW $XHU ,ZDQ )MRGRU\WVFK GHU QRFK QLFKW DXV 3HWHUVEXUJ ]XUFNJHNHKUW ZDU ZDUHQ DOOH YROO]lKOLJ YHUVDPPHOW )UVW 6FKWVFK ZDU HEHQIDOOV DQZHVHQG :LH HV VFKLHQ KDWWHQ VLH VLFKYHUVDPPHOWXPQDFKHLQLJHU=HLWQRFKYRUGHP7HH]XP .RQ]HUW ]X JHKHQ 'DV MHW]LJH *HVSUlFK ZDU RIIHQEDU VFKRQ YRUGHU$QNXQIWGHV)UVWHQLQ*DQJ JHNRPPHQ%DOGGDUDXI VFKOSIWH DXFK .ROMD LQ GLH 9HUDQGD KHUHLQ RKQH GD PDQ JHZXW KlWWH YRQ ZR HU NDP ¾$OVR ZLUG HU KLHU ZLH IUKHU HPSIDQJHQ½VDJWHVLFKGHU)UVWLPVWLOOHQ 'DV -HSDQWVFKLQVFKH /DQGKDXV ZDU OX[XUL|V LP 6FKZHL]HUVWLO JHEDXW XQG DXI DOOHQ 6HLWHQ PLW %OXPHQ XQG %ODWWSIODQ]HQ VFK|Q JHVFKPFNW $XI DOOHQ 6HLWHQ ZDU HV YRQ HLQHP NOHLQHQ DEHU KEVFKHQ %OXPHQJDUWHQ XPJHEHQ $OOH VDHQ LQ GHU 9HUDQGD ZLH YRU NXU]HP EHLP )UVWHQ QXU ZDU GLH9HUDQGDHWZDVJHUlXPLJHUXQGHOHJDQWHUHLQJHULFKWHW
'HU *HJHQVWDQG GHV *HVSUlFKHV GDV JHIKUW ZXUGH VFKLHQ QLFKW DOOHQ VRQGHUOLFK ]X EHKDJHQ GLHVHV *HVSUlFK KDWWH ZLH PDQ PHUNHQ NRQQWH VHLQHQ 8UVSUXQJ YRQ HLQHU KLW]LJHQ 'HEDWWH JHQRPPHQ XQG DOOH KlWWHQ JHZL JHUQ GDV 7KHPD JHZHFKVHOW DEHU -HZJHQLM 3DZORZLWVFK VFKLHQ QXQ HUVW UHFKW HLJHQVLQQLJ DQ LKP IHVW]XKDOWHQ RKQH VLFK XP GLH (PSILQGXQJHQGHUEULJHQ]XNPPHUQXQGHVZDUDOVZUGH GXUFK GLH $QNXQIW GHV )UVWHQ VHLQ (LIHU QRFK HUK|KW /LVDZHWD 3URNRIMHZQD PDFKWH HLQ ILQVWHUHV *HVLFKW REZRKO VLHQLFKWDOOHVYHUVWDQG$JODMDGLHDEVHLWVIDVWLQHLQHU(FNH VD JLQJ QLFKW IRUW K|UWH ]X XQG VFKZLHJ KDUWQlFNLJ ª(UODXEHQ 6LH© VDJWH -HZJHQLM 3DZORZLWVFK HLIULJ ª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© ª:HQQ HU 6LH QXU ZLUG NVVHQ ZROOHQ© EHPHUNWH $OH[DQGUD ,ZDQRZQD GLH VLFK LQ JURHU (UUHJXQJ EHIDQG 6HOEVW LKUH :DQJHQ ZDUHQ U|WHU DOV VRQVW ¾1XQ VLHK PDO DQ½ GDFKWH /LVDZHWD 3URNRIMHZQD IU VLFK ¾6RQVWVFKOlIWXQGLWVLHQXUXQGLVWJDUQLFKWDXI]XUWWHOQXQG GDQQ ULFKWHW VLH VLFK HLQPDO LP -DKU DXI XQG UHGHW VR OHEKDIW GD PDQ GLH +lQGH EHU GHP .RSI ]XVDPPHQVFKODJHQ P|FKWH© 'HU)UVWQDKPVFKRQEHLIOFKWLJHU%HREDFKWXQJZDKUGD HV $OH[DQGUD ,ZDQRZQD VWDUN PLILHO GD -HZJHQLM 3DZORZLWVFKLQVRPXQWHUHP7RQVSUDFKQlPOLFKGDHUEHU HLQHQ HUQVWHQ *HJHQVWDQG VSUDFK XQG DQVFKHLQHQG LQ (LIHU
JHULHW GDEHL DEHU GRFK VFKHU]WH ª,FK KDEH VRHEHQ NXU] YRU ,KUHU $QNXQIW )UVW© IXKU -HZJHQLM 3DZORZLWVFK IRUW ªGLH %HKDXSWXQJ DXIJHVWHOOW GD EHL XQV ELVKHU GLH /LEHUDOHQ QXU ]ZHL *HVHOOVFKDIWVVFKLFKWHQ DQJHK|UW KDEHQ GHU IUKHUHQ MHW]W DEJHVFKDIIWHQ JXWVKHUUOLFKHQ XQG GHU VHPLQDULVWLVFKHQ 8QGGDGLHVHEHLGHQ6WlQGHVLFKVFKOLHOLFKLQULFKWLJH.DVWHQ LQ HWZDV YRQ GHU 1DWLRQ Y|OOLJ $EJHVRQGHUWHV YHUZDQGHOWHQ XQG ]ZDU MH OlQJHU LQ XP VR K|KHUHP *UDG YRQ HLQHU *HQHUDWLRQ]XUDQGHUQLPPHUPHKUVRZDUXQGLVWDXFKDOOHV ZDV VLH JHWDQ KDEHQ XQG WXQ JDQ] QLFKWQDWLRQDO © ª:LH" $OVR ZlUH DOOHV ZDV DXI GLHVHP *HELHWH JHWDQ ZRUGHQ LVW QLFKWUXVVLVFK"©YHUVHW]WH)UVW6FKWVFK ª(VLVWQLFKWQDWLRQDO REJOHLFK HV YRQ 5XVVHQ JHWDQ LVW LVW HV GRFK QLFKW QDWLRQDO ZHGHUXQVHUH/LEHUDOHQQRFKXQVHUH.RQVHUYDWLYHQVLQGHFKWH 5XVVHQ NHLQHU 8QG VHLHQ 6LH EHU]HXJW GD GLH 1DWLRQ QLFKWVYRQGHPDQHUNHQQHQZLUGZDVYRQGHQ*XWVKHUUHQXQG 6HPLQDULVWHQ JHWDQ LVW ZHGHU MHW]W QRFK VSlWHU © ª1XQ GDV LVW MD QHWW :LH N|QQHQ 6LH QXU HLQH VR SDUDGR[H %HKDXSWXQJ YHUIHFKWHQ ZHQQ 6LH HV EHUKDXSW HUQVW PHLQHQ ,FK NDQQ VROFKHQ $QJULIIHQ DXI GLH UXVVLVFKHQ *XWVKHUUHQ NHLQH %HUHFKWLJXQJ ]XHUNHQQHQ 6LH VHOEVW VLQG MD HLQ UXVVLVFKHU *XWVKHUU©HUZLGHUWH)UVW6FKWVFKVHKUHUUHJW ª,FK UHGH MD YRQ GHQ UXVVLVFKHQ *XWVKHUUHQ DXFK QLFKW LQ GHP6LQQHZLH6LHGDVDQQHKPHQ 'DVLVWHLQ6WDQGGHU DOOH $FKWXQJ YHUGLHQW XQG ZDU¶V DXFK QXU GHVZHJHQ ZHLO LFK ]X LKPJHK|UHEHVRQGHUVMHW]WZRHUDXIJHK|UWKDWHLQ6WDQG]X VHLQ © ª+DW HV HWZD DXFK LQ GHU /LWHUDWXU QLFKWV 1DWLRQDOHV JHJHEHQ"© XQWHUEUDFK LKQ $OH[DQGUD ,ZDQRZQD ª,FK ELQ PLW GHU/LWHUDWXUQLFKWYHUWUDXWDEHUDXFKGLHUXVVLVFKH/LWHUDWXULVW PHLQHU $QVLFKW QDFK LQ LKUHP JDQ]HQ 8PIDQJ QLFKWUXVVLVFK DXVJHQRPPHQ HWZD /RPRQRVVRZ 3XVFKNLQ XQG *RJRO ª(UVWHQVLVWGDVJHUDGHQLFKWZHQLJXQG]ZHLWHQVVWDPPWHLQHU YRQ LKQHQ DXV GHP 9RON ZlKUHQG GLH EHLGHQ DQGHUQ *XWVKHUUHQZDUHQ©YHUVHW]WH$GHODLGDODFKHQGª*DQ]ULFKWLJ
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lFKGLHVHQ*DQJJHQRPPHQQXQDOVR LFK EHKDXSWH GD ZLU NHLQHQ HLQ]LJHQ UXVVLVFKHQ 6R]LDOLVWHQ KDEHQHVJLEWNHLQHQXQGKDWNHLQHQJHJHEHQZHLODOOHXQVHUH 6R]LDOLVWHQ DXV GHQ *XWVKHUUHQ RGHU 6HPLQDULVWHQNUHLVHQ KHUYRUJHJDQJHQ VLQG $OOH XQVHUH EHU]HXJWHQ HUNOlUWHQ 6R]LDOLVWHQVRZRKOGLHKLHVLJHQ DOVGLHLP$XVODQG OHEHQGHQ VLQG ZHLWHU QLFKWV DOV OLEHUDOH *XWVKHUUHQ DXV GHQ =HLWHQ GHU /HLEHLJHQVFKDIW :DUXP ODFKHQ 6LH" *HEHQ 6LH PLU LKUH %FKHU LKUH /HKUHQ LKUH 0HPRLUHQ XQG REJOHLFK LFK NHLQ ]QIWLJHU.ULWLNHU ELQ PDFKH LFK PLFK DQKHLVFKLJ ,KQHQ HLQH EHU]HXJHQGH .ULWLN DE]XIDVVHQ LQ GHU LFK VRQQHQNODU EHZHLVHQZHUGHGDMHGH6HLWHLKUHU %FKHU %URVFKUHQ XQG 0HPRLUHQ PLW K|FKVWHU :DKUVFKHLQOLFKNHLW YRQ HLQHP IUKHUHQ UXVVLVFKHQ *XWVKHUUQ JHVFKULHEHQ LVW ,KU =RUQ LKUH (QWUVWXQJ LKU :LW] DOOHV ZHLVW DXI *XWVKHUUHQ DOV 9HUIDVVHU KLQ VRJDU DXI VROFKH DXV GHU =HLW YRU )DPXVVRZ QLFKW PLQGHU LKU (QW]FNHQ LKUH 7UlQHQ GLH YLHOOHLFKW ZDKU XQG HFKWVLQG$OOHVSDW]X*XWVKHUUHQRGHUDXFK]X6HPLQDULVWHQ 6LH ODFKHQ ZLHGHU XQG DXFK 6LH ODFKHQ )UVW" 6LQG DXFK 6LHQLFKWPHLQHU0HLQXQJ"© ,Q GHU 7DW ODFKWHQ DOOH DXFK GHU )UVW OlFKHOWH ª,FK NDQQ QRFKQLFKW PLW %HVWLPPWKHLW VDJHQ RE LFK ,KUHU 0HLQXQJ ELQ RGHUQLFKW©HUZLGHUWHGHU)UVWLQGHPHUSO|W]OLFKDXIK|UWH]X
*HVWDOWDXV*ULERMHGRZV.RP|GLHª9HUVWDQGVFKDIIW/HLGHQ©
OlFKHOQ XQG ZLH HLQ HUWDSSWHU 6FKXOMXQJH ]XVDPPHQIXKU ª$EHU LFK YHUVLFKHUH ,KQHQ GD LFK ,KQHQ PLW DXHURUGHQWOLFKHP9HUJQJHQ]XK|UH© $OVHUGLHVVDJWHNRQQWHHUNDXP/XIWKROHQXQGHVWUDWLKP VRJDU NDOWHU 6FKZHL DXI GLH 6WLUQ 'LHV ZDUHQ GLH HUVWHQ :RUWHGLHHUVSUDFKVHLWHUVLFKKLQJHVHW]WKDWWH(UZROOWHGHQ 9HUVXFK PDFKHQ VLFK LP .UHLV GHU $QZHVHQGHQ XP]XVFKDXHQ DEHU HU ZDJWH HV QLFKW -HZJHQLM 3DZORZLWVFK KDWWH VHLQH .RSIEHZHJXQJ EHPHUNW XQG OlFKHOWH ª,FK ZHUGH ,KQHQHLQH7DWVDFKHPLWWHLOHQPHLQH+HUUVFKDIWHQ©IXKUHULQ GHP IUKHUHQ 7RQ IRUW GDV KHLW VFKHLQEDU PLW JURHP (LIHU XQG JURHU $QWHLOQDKPH JOHLFK]HLWLJ DEHU EHLQDK ODFKHQG YLHOOHLFKW EHU VHLQH HLJHQHQ :RUWH ª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lJW VHLQH HLJHQH 0XWWHU $OOHVZDVLQ5XODQGXQJOFNOLFKDXVIlOOWXQGPLOLQJWEULQJW LKQ]XP/DFKHQXQGYHUVHW]WLKQEHLQDKLQ(QW]FNHQ(UKDW GLH 9RONVVLWWHQ GLH UXVVLVFKH *HVFKLFKWH XQG DOOHV :HQQ HV IU LKQ HLQH (QWVFKXOGLJXQJ JLEW VR NDQQ VLH K|FKVWHQV GDULQ EHVWHKHQGDHUQLFKWZHLZDVHUWXWXQGVHLQHQ+DJHJHQ
5XODQG IU GHQ IUXFKWEDUVWHQ /LEHUDOLVPXV KlOW RK 6LH N|QQHQ EHL XQV QLFKW VHOWHQ HLQHQ /LEHUDOHQ ILQGHQ GHP GLH EULJHQ%HLIDOONODWVFKHQXQGGHUYLHOOHLFKWLQ:LUNOLFKNHLWGHU DEJHVFKPDFNWHVWH VWXPSIVLQQLJVWH XQG JHIlKUOLFKVWH .RQVHUYDWLYH LVW RKQH VHOEVW HLQH $KQXQJ GDYRQ ]X KDEHQ 'LHVHQ+D JHJHQ5XODQGKLHOWHQYRUQRFKQLFKW DOO]XODQJHU =HLW PDQFKH XQVHUHU /LEHUDOHQ EHLQDK IU GLH ZDKUH 9DWHUODQGVOLHEH XQG UKPWHQ VLFK EHVVHU DOV DQGHUH /HXWH ]X HUNHQQHQ ZRULQ GLHVH EHVWHKHQ PVVH DEHU MHW]W VLQG VLH VFKRQDXIULFKWLJHUJHZRUGHQXQGKDEHQVLFKVRJDUGHV:RUWHV ¾9DWHUODQGVOLHEH½]XVFKlPHQDQJHIDQJHQMDVRJDUGHQ%HJULII DOVQLFKWLJXQGVFKlGOLFKDXVJHPHU]WXQGHQWIHUQW'DVLVWHLQH VLFKHUH 7DWVDFKH GLH LFK YHUEUJHQ NDQQ HV PX GRFK HLQPDO GLH :DKUKHLW YROOVWlQGLJ VFKOLFKW XQG DXIULFKWLJ DXVJHVSURFKHQ ZHUGHQ (LQ VROFKHV 9HUKDOWHQ GHV /LEHUDOLVPXV LVW DEHU VHLW 0HQVFKHQJHGHQNHQ QLH XQG EHL NHLQHP 9RONH YRUJHNRPPHQ XQG HV PDJ GDKHU HWZDV =XIlOOLJHV VHLQ XQG YLHOOHLFKW YRUEHUJHKHQ GDV ZLOO LFK ]XJHEHQ (LQ /LEHUDOHU GHU HLQHQ +D DXI VHLQ HLJHQHV 9DWHUODQGKlWWHLVWLQNHLQHPDQGHUQ/DQGHP|JOLFK:RGXUFK OlW VLFK QXQ GLHVH (UVFKHLQXQJ EHL XQV HUNOlUHQ" 'XUFK GHQVHOEHQ*HGDQNHQGHQLFKVFKRQYRUKLQDXVVSUDFKGDGXUFK GDGHU/LEHUDOHLQ5XODQGYRUOlXILJQRFKQLFKWHLQUXVVLVFKHU /LEHUDOHULVWPHLQHU $QVLFKWQDFKLVWGDVGLH HLQ]LJP|JOLFKH (UNOlUXQJ© ª,FK IDVVH DOOHV ZDV GX JHVDJW KDVW DOV 6FKHU] DXI -HZJHQLM 3DZORZLWVFK© EHPHUNWH )UVW 6FKWVFK LQ HUQVWHP 7RQH© ª,FK KDEH QLFKW DOOH /LEHUDOHQ NHQQHQJHOHUQW XQG HUODXEH PLU GDKHU NHLQ 8UWHLO© VDJWH $OH[DQGUD ,ZDQRZQD ª$EHU LFK ELQ EHU ,KUH 'DUOHJXQJ JDQ] HPS|UW 6LH KDEHQ HLQHQ YHUHLQ]HOWHQ )DOO JHQRPPHQ XQG HLQH DOOJHPHLQH 5HJHO GDUDXV JHPDFKW IROJOLFK KDEHQ 6LH YHUOHXPGHW© ª(LQHQ YHUHLQ]HOWHQ )DOO" $K DK 'DV LVW HLQ ZLFKWLJHU $XVGUXFN GHQ 6LH GD JHEUDXFKW KDEHQ© YHUVHW]WH -HZJHQLM3DZORZLWVFKª:LHGHQNHQ6LHGDUEHU)UVW",VWHV
HLQ YHUHLQ]HOWHU )DOO RGHU QLFKW"© ª,FK PX HEHQIDOOV EHNHQQHQGDLFKQXUZHQLJH/LEHUDOHNHQQHQJHOHUQWXQGQXU ZHQLJPLWLKQHQYHUNHKUWKDEH©DQWZRUWHWHGHU)UVWª$EHUHV VFKHLQW PLU GD 6LH YLHOOHLFKW ELV ]X HLQHP JHZLVVHQ *UDGH UHFKW KDEHQ XQG GD GLHVHU UXVVLVFKH /LEHUDOLVPXV YRQ GHP 6LH JHVSURFKHQ KDEHQ WDWVlFKOLFK WHLOZHLVH GD]X QHLJW 5XODQGVHOEVW]XKDVVHQXQGQLFKWQXUGHVVHQ(LQULFKWXQJHQ 1DWUOLFK ZLUG GDV QXU WHLOZHLVH ]XWUHIIHQ XQG NDQQ QDWUOLFKQLFKWYRQDOOHQ/LEHUDOHQJHVDJWZHUGHQ© (UVWRFNWHXQGVSUDFKVHLQH*HGDQNHQQLFKWZHLWHUDXV7URW] DOO VHLQHU $XIUHJXQJ ZDU LKP GDV *HVSUlFK VHKU LQWHUHVVDQW (LQHQ EHVRQGHUHQ &KDUDNWHU]XJ ELOGHWH EHL LKP GLH JURH 1DLYLWlW PLW GHU HU LPPHU ]XK|UWH ZHQQ LKQ HWZDV LQWHUHVVLHUWH XQG GLH QLFKW PLQGHUH 1DLYLWlW PLW GHU HU DQWZRUWHWHZHQQGDEHL)UDJHQDQLKQJHULFKWHWZXUGHQ'LHVH 1DLYLWlW GLHVHV 9HUWUDXHQ GDV NHLQHQ 6SRWW XQG NHLQH VFKHU]KDIWH (UZLGHUXQJ YRQ 6HLWHQ GHV DQGHUQ EHIUFKWHWH VSLHJHOWHQ VLFK LQ VHLQHP *HVLFKW ZLGHU XQG NDPHQ VRJDU LQ VHLQHU .|USHUKDOWXQJ ]XP $XVGUXFN $EHU REJOHLFK -HZJHQLM 3DZORZLWVFK VLFK VRQVW LPPHU QXU PLW HLQHP EHVRQGHUHQ /lFKHOQ DQ LKQ ZDQGWH VR EOLFNWH HU LKQ MHW]W EHL GLHVHU $QWZRUWGRFKVHKUHUQVWDQDOVREHUHLQHVROFKH$QWZRUWYRQ LKP LQ NHLQHU :HLVH HUZDUWHW KlWWH ª6R DEHU GDV LVW GRFK VHOWVDP©VDJWHHUª:DUGLHVH$QWZRUWZLUNOLFKHUQVWJHPHLQW )UVW"© ª+DWWHQ 6LH GHQQ QLFKW LP (UQVW JHIUDJW"© HUZLGHUWH GLHVHUHUVWDXQW $OOH ODFKWHQ ª7UDXHQ 6LH GHP© VDJWH $GHODLGD ª-HZJHQLM 3DZO\WVFK KDW LPPHU DOOH /HXWH ]XP EHVWHQ :HQQ 6LH ZWHQ ZDV IU 'LQJH HU PDQFKPDO PLW GHP JU|WHQ (UQVW HU]lKOW©ª0HLQHU$QVLFKWQDFKLVWGDV*HVSUlFKSHLQOLFKXQG ZLU KlWWHQ HV JDU QLFKW DQIDQJHQ VROOHQ© EHPHUNWH $OH[DQGUD LQ VFKDUIHP 7RQ ª:LU ZROOWHQ GRFK 6SD]LHUHQJHKHQ © ª*HKHQ ZLU 'HU $EHQG LVW ZXQGHUVFK|Q© ULHI -HZJHQLM 3DZORZLWVFKª$EHUXP,KQHQ]XEHZHLVHQGDLFKGLHVHV0DO
JDQ] HUQVW JHUHGHW KDEH XQG QDPHQWOLFK XP HV GHP )UVWHQ ]X EHZHLVHQ 6LH LQWHUHVVLHUHQ PLFK DXHURUGHQWOLFK )UVW XQGLFKVFKZ|UH,KQHQHLQVRREHUIOlFKOLFKHU0HQVFKZLHHV QRWZHQGLJHUZHLVHGHQ$QVFKHLQ KDW ELQ LFK GHQQ GRFK QLFKW REZRKO LFK ZLUNOLFK REHUIOlFKOLFK ELQ XQG ]X GLHVHP =ZHFN PHLQH +HUUVFKDIWHQ P|FKWH LFK PLW ,KUHU JWLJHQ (UODXEQLV GHP )UVWHQ QRFK HLQH OHW]WH )UDJH YRUOHJHQ DXV UHLQHU1HXJLHUXQGGDPLWZROOHQZLUGDQQ GLH 6DFKH DEJHWDQ VHLQ ODVVHQ 'LHVH )UDJH LVW PLU ZDV VLFK VHKU JXW WULIIW YRU ]ZHL6WXQGHQLQGHQ.RSIJHNRPPHQVHKHQ6LHZRKO)UVW DXFK LFK GHQNH PDQFKPDO EHU HUQVWH 'LQJH QDFK LFK KDEH VLHPLUEHDQWZRUWHWDEHUZLUZROOHQVHKHQZDVGHU)UVWGD]X VDJW (V ZDU VRHEHQ YRQ HLQHP ¾YHUHLQ]HOWHQ )DOO½ GLH 5HGH 'LHVHU $XVGUXFN KDW EHL XQV LQ 5XODQG HLQH JURH :LFKWLJNHLW HUODQJW XQG PDQ K|UW LKQ UHFKW RIW 1HXOLFK UHGHWHQ XQG VFKULHEHQ DOOH /HXWH YRQ MHQHP VFKUHFNOLFKHQ 0RUGGHQGLHVHUMXQJH0DQQDQVHFKV0HQVFKHQEHJDQJHQ KDWXQGYRQGHUVHOWVDPHQ5HGHGHV9HUWHLGLJHUVLQGHUGLHVHU JHVDJW KDW GHP 9HUEUHFKHU KDEH EHL VHLQHQ lUPOLFKHQ 9HUKlOWQLVVHQ QDWXUJHPl GHU *HGDQNH LQ GHQ .RSI NRPPHQ PVVHQ GLHVH VHFKV 0HQVFKHQ ]X HUPRUGHQ 'DV ZDU ZRKO QLFKW GHU :RUWODXW DEHU GHU 6LQQ ZDU GRFK GLHVHU RGHU HLQ lKQOLFKHU 0HLQHU SHUV|QOLFKHQ $QVLFKW QDFK ZDU GHU 9HUWHLGLJHU DOV HU GLHVH VRQGHUEDUH $QVFKDXXQJ YRUEUDFKWH GHU IHVWHQ hEHU]HXJXQJ GHQ OLEHUDOVWHQ KXPDQVWHQ IRUWVFKULWWOLFKVWHQ *HGDQNHQ DXV]XVSUHFKHQ GHQ PDQ QXU EHUKDXSW LQ XQVHUHU =HLW lXHUQ NDQQ 1XQ DOVR ZLH YHUKlOW HV VLFK GDPLW ,KUHU $QVLFKW QDFK LVW GLHVH 9HUGUHKXQJ GHU %HJULIIHXQG0HLQXQJHQGLH0|JOLFKNHLWHLQHUVRPHUNZUGLJ VFKLHIHQ $XIIDVVXQJ GHU 6DFKH HLQ YHUHLQ]HOWHU )DOO RGHU GLH 5HJHO"© $OOH ODFKWHQ ª(LQ YHUHLQ]HOWHU )DOO VHOEVWYHUVWlQGOLFK HLQ YHUHLQ]HOWHU )DOO© ULHIHQ $OH[DQGUD XQG $GHODLGH ODFKHQG ª0LW GHLQHU (UODXEQLV P|FKWH LFK GLFK GDUDQ HULQQHUQ
-HZJHQLM 3DZO\WVFK© IJWH )UVW 6FKWVFK KLQ]X ªGD GHLQ 6FKHU] VFKRQ VHKU DEJHQXW]W LVW© ª:LH GHQNHQ 6LH GDUEHU )UVW"© IUDJWH RKQH GDUDXI ]X K|UHQ -HZJHQLM 3DZORZLWVFK GHUZDKUQDKPGDLKQ)UVW/HZ1LNRODMHZLWVFKPLWHUQVWHP ,QWHUHVVHDQEOLFNWHª:DVPHLQHQ6LHZDUGDVHLQYHUHLQ]HOWHU )DOO RGHU GLH 5HJHO" ,FK PX EHNHQQHQ GD LFK PLU GLHVH )UDJHVSH]LHOOIU6LH]XUHFKWJHOHJWKDEH©ª1HLQGDVZDUNHLQ YHUHLQ]HOWHU )DOO© DQWZRUWHWH GHU )UVW OHLVH DEHU PLW IHVWHU 6WLPPH ª$EHU LFK ELWWH 6LH /HZ 1LNRODMHZLWVFK© ULHI )UVW 6FKWVFK HLQ ZHQLJ lUJHUOLFK ªVHKHQ 6LH GHQQ QLFKW GD HU ,KQHQ HLQH )DOOH VWHOOW" (U ODFKW VLFKHU LQQHUOLFK XQG EHDEVLFKWLJW VLFK JHUDGH EHU 6LH OXVWLJ ]X PDFKHQ© ª,FK JODXEWH -HZJHQLM 3DZO\WVFK VSUlFKH LP (UQVW© YHUVHW]WH GHU )UVW HUU|WHQG XQG VFKOXJ GLH $XJHQ QLHGHU ª/LHEHU )UVW© IXKU )UVW 6FKWVFK IRUW ªGHQNHQ 6LH GRFK DQ HLQ *HVSUlFK GDV ZLU EHLGH HLQPDO YRU GUHL 0RQDWHQ IKUWHQ ZLU VSUDFKHQ QDPHQWOLFK GDUEHU GD HV LQ XQVHUHQ MXQJHQ QHXHU|IIQHWHQ *HULFKWHQEHUHLWVYLHOHEHDFKWHQVZHUWHWDOHQWYROOH9HUWHLGLJHU JLEW8QGZLHYLHOHLPK|FKVWHQ*UDGHEHDFKWHQVZHUWH8UWHLOH VLQG YRQ XQVHUHQ *HVFKZRUHQHQ JHIlOOW ZRUGHQ" :LH KDEHQ 6LHVHOEVWVLFKJHIUHXWXQGZLHKDEHLFKPLFKGDPDOVEHU,KUH )UHXGH JHIUHXW ZLU VDJWHQ GD ZLU $QOD KlWWHQ VWRO] ]X VHLQ $EHU GLHVH XQJHVFKLFNWH 9HUWHLGLJXQJ GLHVHV VRQGHUEDUH $UJXPHQW LVW VLFKHUOLFK QXU HWZDV =XIlOOLJHV HLQ YHUHLQ]HOWHU)DOOXQWHU7DXVHQGHQ© )UVW /HZ 1LNRODMHZLWVFK GDFKWH HLQHQ $XJHQEOLFN QDFK DQWZRUWHWH DEHU GDQQ LP 7RQ IHVWHVWHU hEHU]HXJXQJ ZHQQ DXFK OHLVH XQG JHZLVVHUPDHQ VFKFKWHUQ ª,FK ZROOWH QXU VDJHQ GD GLHVH (QWVWHOOXQJ GHU *HGDQNHQ XQG %HJULIIH ZLH VLFK-HZJHQLM3DZO\WVFKDXVGUFNWH VHKUKlXILJEHJHJQHWXQG OHLGHU YLHO ZHLWHU YHUEUHLWHW LVW DOV GD PDQ VLH HLQHQ YHUHLQ]HOWHQ)DOOQHQQHQN|QQWH8QGVRJDUVRVHKUGDZHQQ GLHVH(QWVWHOOXQJQLFKWHLQVRKlXILJHU )DOOZlUH HVYLHOOHLFKW DXFKQLFKWVRXQHUK|UWH9HUEUHFKHQJHEHQZUGHZLHGLHVH©
ª8QHUK|UWH9HUEUHFKHQ"$EHULFKYHUVLFKHUH,KQHQGDJHQDX HEHQVROFKH 9HUEUHFKHQ XQG YLHOOHLFKW QRFK VFKDXGHUKDIWHUH DXFK IUKHU YRUJHNRPPHQ VLQG LPPHU YRUJHNRPPHQ VLQG XQG QLFKW QXU EHL XQV VRQGHUQ EHUDOO XQG GD VLH PHLQHV (UDFKWHQV VLFK QRFK VHKU ODQJH ZLHGHUKROHQ ZHUGHQ 'HU 8QWHUVFKLHG EHVWHKW QXU GDULQ GD VLH IUKHU ZHQLJHU SXEOLN ZXUGHQZlKUHQGPDQMHW]WDQJHIDQJHQKDWODXWYRQLKQHQ]X UHGHQXQGVRJDU]XVFKUHLEHQGDKHUHQWVWHKWQXQGHU$QVFKHLQ DOVVHLHQVROFKH9HUEUHFKHUHUVWMHW]WDXIJHWUHWHQ'DULQEHVWHKW ,KU ,UUWXP HLQ VHKU QDLYHU ,UUWXP )UVW JODXEHQ 6LH PLU© VDJWH )UVW 6FKWVFK OlFKHOQG ª,FK ZHL VHOEVW GD GLH 9HUEUHFKHQDXFKIUKHUVHKU]DKOUHLFKXQGHEHQVRVFKUHFNOLFK ZDUHQ LFK KDEH HUVW NU]OLFK PHKUHUH *HIlQJQLVVH EHVXFKW XQG HV LVW PLU GDEHL JHOXQJHQ PLW HLQHU $Q]DKO YRQ 9HUEUHFKHUQ XQG $QJHNODJWHQ EHNDQQW ]X ZHUGHQ (V JLEW VRJDU QRFK IXUFKWEDUHUH 9HUEUHFKHU DOV MHQHQ MXQJHQ 0DQQ 9HUEUHFKHUYRQGHQHQHLQMHGHU]HKQ0HQVFKHQHUPRUGHWKDW RKQHLUJHQGZHOFKH5HXH]XYHUVSUHQ$EHUHLQ3XQNWLVWPLU GDEHL DXIJHIDOOHQ GHU YHUVWRFNWHVWH 0|UGHU GHU NHLQH 5HXH HPSILQGHWZHLGRFKGDHU HLQ 9HUEUHFKHU LVW GDV KHLW HU XUWHLOW VHLQHP *HZLVVHQ QDFK GD HU VFKOHFKW JHKDQGHOW KDW REZRKO HU QLFKWV YRQ 5HXH ZHL 6R GHQNW MHGHU YRQ LKQHQ DEHU GLHMHQLJHQ YRQ GHQHQ -HZJHQLM 3DZO\WVFK JHVSURFKHQ KDW ZROOHQ VLFK QLFKW IU 9HUEUHFKHU KDOWHQ XQG PHLQHQ VLH KlWWHQHLQ5HFKWJHKDEWXQGKlWWHQVRJDUJXWJHKDQGHOWGDV KHLW XQJHIlKU VR GHQNHQ VLH 'DULQ EHVWHKW PHLQHU $QVLFKW QDFK GHU IXUFKWEDUH 8QWHUVFKLHG 8QG EHDFKWHQ 6LH GD GDV ODXWHUMXQJH/HXWHVLQGGDVKHLW/HXWHLQGHP/HEHQVDOWHULQ ZHOFKHP PDQ DP OHLFKWHVWHQ XQG VFKXW]ORVHVWHQ LQ HLQH 9HUGUHKXQJGHU$QVFKDXXQJHQYHUIDOOHQNDQQ© )UVW 6FKWVFK ODFKWH QLFKW PHKU XQG K|UWH GHP )UVWHQ HUVWDXQW]X$OH[DQGUD,ZDQRZQDGLHVFKRQODQJHHWZDVKDWWH VDJHQ ZROOHQ VFKZLHJ DOV KLHOWH HLQ EHVRQGHUHU *HGDQNH VLH YRP 5HGHQ ]XUFN -HZJHQLM 3DZORZLWVFK DEHU VDK GHQ
)UVWHQ PLW XQYHUKRKOHQHU 9HUZXQGHUXQJ XQG MHW]W RKQH HLQH 6SXUYRQ/lFKHOQDQª$EHUZDUXPZXQGHUQ6LHVLFKGHQQVR EHU LKQ PHLQ +HUU"© PLVFKWH VLFK /LVDZHWD 3URNRIMHZQD XQHUZDUWHWLQGDV*HVSUlFKª,VWHUHWZDGPPHUDOV6LHZHLO VHLQ8UWHLOYRQGHP,KULJHQDEZHLFKW"©ª1HLQVRHWZDVGHQNH LFKQLFKW©HUZLGHUWH-HZJHQLM3DZORZLWVFKª$EHUZLHJHKWHV GHQQ ]X )UVW HQWVFKXOGLJHQ 6LH GLH )UDJH ZHQQ 6LH GDV DOOHVVRVFKDUIEHREDFKWHQXQGHUNHQQHQZLHJHKWHVGHQQ]X GD 6LH LFK ELWWH QRFKPDOV XP 9HU]HLKXQJ EHL GLHVHU VRQGHUEDUHQ $QJHOHJHQKHLW LFK PHLQH GDV ZDV VLFK YRU HLQLJHQ7DJHQHUHLJQHWHEHLGHU$QJHOHJHQKHLWGLHVHV+HUUQ ±%XUGRZVNLMKHLWHUMDZRKOZLHJHKWHVGHQQ]XGD6LH GD GLH JDQ] JOHLFKH 9HUGUHKXQJ GHU ,GHHQ XQG PRUDOLVFKHQ $QVFKDXXQJHQ QLFKW EHPHUNWHQ" (V ZDU MD GRFK JDQ] JHQDX GDVVHOEH,FKKDWWHGDPDOVGHQ(LQGUXFNGD6LHHVEHUKDXSW QLFKW EHPHUNW KDWWHQ© ª-D VHKHQ 6LH PDO 9lWHUFKHQ© HUHLIHUWHVLFK/LVDZHWD3URNRIMHZQDªZLUKDEHQHVGDPDOVDOOH EHPHUNW XQG QXQ VLW]HQ ZLU KLHU XQG EUVWHQ XQV GDPLW YRU LKPDEHU HU HU KDW KHXWH YRQ HLQHP GLHVHU /HXWH HLQHQ %ULHI HUKDOWHQ YRQ GHU HLJHQWOLFKHQ +DXSWSHUVRQ YRQ GHP PLW GHQ 3LFNHOQLP*HVLFKWHULQQHUVWGXGLFK$OH[DQGUD",QGHP%ULHI ELWWHW HU LKQ XP 9HU]HLKXQJ ZHQQ DXFK VR DXI HLQH $UW XQG WHLOWLKPPLWGDHUVLFKMHW]WYRQ MHQHP .DPHUDGHQ GHU LKQ GDPDOV DXIJHKHW]W KDWWH ORVJHVDJW KDEH ± GX HULQQHUVW GLFK GRFK $OH[DQGUD" 8QG HU JODXEH GHP )UVWHQ MHW]W PHKU DOV MHQHP 1D DEHU ZLU KDEHQ HLQHQ VROFKHQ %ULHI QRFK QLFKW HUKDOWHQ REJOHLFK ZLU XQV KLHU GHP )UVWHQ JHJHQEHU VR KRFKQlVLJ EHQHKPHQ© ª8QG ,SSROLW LVW DXFK MHW]W HEHQ ]XP )UVWHQ LQ GDV /DQGKDXV JH]RJHQ© ULHI .ROMD ª:LH" ,VW HU VFKRQ KLHU"© IUDJWH GHU )UVW DXIJHUHJW ª*OHLFK QDFKGHP 6LH PLW /LVDZHWD 3URNRIMHZQD ZHJJHJDQJHQ ZDUHQ LVW HU HLQJHWURIIHQ LFK KDEH LKQ KHUWUDQVSRUWLHUW© ª1D GD P|FKWH LFK ZHWWHQ© IXKU /LVDZHWD 3URNRIMHZQD KHIWLJ DXI GLH JDQ] YHUJD GD VLH GHQ )UVWHQ HLQHQ $XJHQEOLFN YRUKHU JHOREW
KDWWH ªGD P|FKWH LFK ZHWWHQ GD HU JHVWHUQ ]X LKP KLQJHIDKUHQ LVW XQG LKQ LQ VHLQHU 'DFKNDPPHU NQLHIlOOLJ XP 9HU]HLKXQJ JHEHWHQ KDW GDPLW GLHVH ERVKDIWH .DQDLOOH VLFK KHUDEODVVHQ P|FKWH KLHUKHU EHU]XVLHGHOQ %LVW GX JHVWHUQ ]X LKPKLQJHIDKUHQ"'XKDVWMDQHXOLFKVHOEVWEHNDQQWGDGXHV WXQ ZROOWHVW -D RGHU QHLQ" %LVW GX YRU LKP DXI GLH .QLH JHIDOOHQRGHU QLFKW"© ª$XI GLH .QLH LVW HU JDQ] XQG JDU QLFKW JHIDOOHQ© ULHI .ROMD ª*DQ] LP *HJHQWHLO ,SSROLW KDW JHVWHUQ GLH+DQGGHV )UVWHQ HUJULIIHQXQG]ZHLPDO JHNW GDV KDEH LFK VHOEVW JHVHKHQ XQG GDPLW HQGHWH GLH JDQ]H $XVVSUDFKH GHU)UVWVDJWHQXUQRFKJDQ]HLQIDFK,SSROLWZHUGHVLFKLQGHU 6RPPHUIULVFKH ZRKOHU IKOHQ XQG GHU ZDU VRIRUW GDPLW HLQYHUVWDQGHQ EHU]XVLHGHOQ VREDOG HV LKP QXU HLQ ZHQLJ EHVVHUJHKHQZUGH©ª6LHKlWWHQGDVQLFKWVDJHQVROOHQ.ROMD © PXUPHOWH GHU )UVW LQGHP HU DXIVWDQG XQG QDFK VHLQHP +XWJULIIª:DUXPHU]lKOHQ6LHGDV",FK©ª:RKLQZLOOVWGX GHQQ"© KLHOW LKQ /LVDZHWD 3URNRIMHZQD ]XUFN ª/DVVHQ 6LH VLFKKLHUQLFKWVW|UHQ )UVW© IXKU.ROMDLQVHLQHP)HXHUHLIHU IRUW ª*HKHQ 6LH QLFKW ]X LKP KLQ XQG EHXQUXKLJHQ 6LH LKQ QLFKWHULVWYRQGHU)DKUWHUPGHWXQGHLQJHVFKODIHQHUIUHXW VLFKVHKUXQGZLVVHQ6LH)UVWPHLQHU$QVLFKWQDFKLVWHVGDV EHVWH ZHQQ 6LH LKQ MHW]W QLFKW DXIVXFKHQ 9HUVFKLHEHQ 6LH HV OLHEHUDXIPRUJHQVRQVWZLUGHUZLHGHUYHUOHJHQ(UKDWKHXWH YRUPLWWDJ]XPLUJHVDJWHUKDEHVLFKVFKRQVHLWHLQHPKDOEHQ -DKU QLFKW VR ZRKO XQG NUlIWLJ JHIKOW HU KXVWHW VRJDU YLHO ZHQLJHU© 'HU)UVWEHPHUNWHGD$JODMDSO|W]OLFKLKUHQ3ODW]YHUOLH XQG DQ GHQ 7LVFK KHUDQWUDW (U ZDJWH QLFKW QDFK LKU KLQ]XEOLFNHQDEHUHUIKOWHPLWVHLQHPJDQ]HQ:HVHQGDVLH LKQ LQ GLHVHP $XJHQEOLFN DQVDK XQG YLHOOHLFKW ]RUQLJ DQVDK XQGGDLQLKUHQVFKZDU]HQ$XJHQMHGHQIDOOVHLQ$XVGUXFNGHV 8QZLOOHQV ODJ XQG LKU *HVLFKW JOKWH ª,FK JODXEH 1LNRODL $UGDOLRQRZLWVFK 6LH KDEHQ QLFKW JXW GDUDQ JHWDQ LKQ KLHUKHU]XEULQJHQ ZHQQ HV VLFK XP MHQHQ VFKZLQGVFKWLJHQ
MXQJHQ 0HQVFKHQ KDQGHOW GHU GDPDOV ]X ZHLQHQ DQILQJ XQG XQV ]X VHLQHP %HJUlEQLV HLQOXG© EHPHUNWH -HZJHQLM 3DZORZLWVFK ª(U VSUDFK GDPDOV LQ VR SDWKHWLVFKHQ $XVGUFNHQ YRQ GHU 0DXHU GHV 1DFKEDUKDXVHV GD HU VLFK XQEHGLQJW QDFK GLHVHU 0DXHU ]XUFNVHKQHQ ZLUG GDYRQ N|QQHQ6LHEHU]HXJWVHLQ©ª'DVLVWJDQ]ULFKWLJ(UZLUGVLFK PLWGLU]DQNHQXQGEHUZHUIHQXQGZLHGHUZHJIDKUHQ±ZHLWHU NRPPWQLFKWVGDEHLKHUDXV© 1DFK GLHVHQ :RUWHQ ]RJ /LVDZHWD 3URNRIMHZQD ZUGHYROO GHQ .RUE PLW LKUHU +DQGDUEHLW ]X VLFK KHUDQ GD VLH JDQ] YHUJHVVHQ KDWWH GD DOOH EHUHLWV DXIJHVWDQGHQ ZDUHQ XP GHQ 6SD]LHUJDQJ DQ]XWUHWHQ ª(V LVW PLU HULQQHUOLFK GD HU PLW GLHVHU0DXHUVHKUJHSUDKOWKDW©EHJDQQ-HZJHQLM3DZORZLWVFK YRQQHXHP ª2KQHGLHVH0DXHUZLUGHU QLFKW PLW JURDUWLJHQ 5HGHZHQGXQJHQ VWHUEHQ N|QQHQ XQG GDUDQ LVW LKP GRFK YLHO JHOHJHQ©ª1XQJXW©PXUPHOWHGHU)UVWªZHQQ6LHLKPQLFKW YHU]HLKHQ ZROOHQ ZLUG HU HEHQ RKQH ,KUH 9HU]HLKXQJ VWHUEHQ -HW]W LVW HU XP GHU %lXPH ZLOOHQ KLHUKHU EHUJHVLHGHOW© ª2K LFK PHLQHUVHLWV YHU]HLKH LKP DOOHV GDV N|QQHQ 6LH LKP DXVULFKWHQ© ª6R GDUI GLH 6DFKH QLFKW DXIJHIDW ZHUGHQ© DQWZRUWHWHGHU)UVWOHLVHXQGDQVFKHLQHQGQXUXQJHUQLQGHP HU IRUWIXKU PLW JHVHQNWHQ $XJHQ DXI HLQHQ 3XQNW GHV )XERGHQV]XEOLFNHQª(VLVWHUIRUGHUOLFKGDDXFK6LHEHUHLW VLQGYRQLKP 9HU]HLKXQJ DQ]XQHKPHQ© ª$EHU ZDV KDEH LFK GHQQ GDPLW ]X WXQ" :DV KDEH LFK LKP GHQQ ]XOHLGH JHWDQ"© ª:HQQ6LHGDVQLFKWYHUVWHKHQVRDEHU6LHYHUVWHKHQHVMD HU ZROOWH GDPDOV 6LH DOOH VHJQHQ XQG ,KUHQ 6HJHQ HPSIDQJHQ ZHLWHU QLFKWV © ª/LHEHU )UVW© ILHO )UVW 6FKWVFK VFKQHOO PLW HLQHU JHZLVVHQ %HKXWVDPNHLW HLQ QDFKGHP HU PLW HLQHP XQG GHP DQGHUQ YRQ GHQ $QZHVHQGHQ HLQHQ%OLFNJHZHFKVHOWKDWWHªGDV3DUDGLHVOlWVLFKDXI(UGHQ QLFKW VR OHLFKW ZLHGHUKHUVWHOOHQ XQG GRFK UHFKQHQ 6LH JHZLVVHUPDHQ PLW HLQHU :LHGHUKHUVWHOOXQJ GHV 3DUDGLHVHV GDV LVW HLQ VFKZHUHV 'LQJ )UVW ZHLW VFKZHUHU DOV HV ,KUHP
SUlFKWLJHQ +HU]HQ HUVFKHLQW :LU ZROOHQ OLHEHU GDYRQ DXIK|UHQ VRQVW JHUDWHQ ZLU DOOH DP (QGH ZLHGHU LQV 6WUHLWHQ XQG GDQQ © ª:LU ZROOHQ ]XU 0XVLN JHKHQ© VDJWH /LVDZHWD 3URNRIMHZQD LQ VFKDUIHP 7RQ XQG HUKRE VLFK lUJHUOLFK YRQ LKUHP3ODW] $OOHVFKORVVHQVLFKLKUDQ
,, 'HU )UVW WUDW SO|W]OLFK DQ -HZJHQLM 3DZORZLWVFK KHUDQ ª-HZJHQLM 3DZO\WVFK© VDJWH HU PLW DXIIlOOLJHU :lUPH LQGHP HU VHLQH +DQG HUJULII ªVHLHQ 6LH EHU]HXJW GD LFK 6LH WURW] DOOHPIUGHQ HGHOVWHQEHVWHQ0HQVFKHQKDOWHGDVYHUVLFKHUH LFK ,KQHQ © -HZJHQLM 3DZORZLWVFK ZDU VR HUVWDXQW GD HU VRJDUHLQHQ6FKULWW]XUFNWUDW(LQHQ$XJHQEOLFNODQJKDWWHHU GLHJU|WH0KHHLQHQVWDUNHQ/DFKUHL]]XXQWHUGUFNHQDEHU EHLQlKHUHP+LQVHKHQEHPHUNWHHUGDGHU)UVWNDXPVHLQHU VHOEVW PlFKWLJ ZDU XQG VLFK MHGHQIDOOV LQ HLQHP JDQ] HLJHQDUWLJHQ =XVWDQGEHIDQG ª,FK P|FKWH ZHWWHQ )UVW© ULHI HU ªGD 6LH HLJHQWOLFK HWZDV JDQ] DQGHUHV VDJHQ ZROOWHQ XQG YLHOOHLFKW JDU QLFKW ]X PLU $EHU ZDV LVW PLW ,KQHQ" )KOHQ 6LHVLFKQLFKWZRKO"© ª0|JOLFKVHKUP|JOLFKXQG6LHKDEHQ VHKU ULFKWLJ EHPHUNW GD LFK PLFK YLHOOHLFKW JDU QLFKW DQ 6LH ZHQGHQZROOWH© 1DFK GLHVHQ :RUWHQ OlFKHOWH HU JDQ] VHOWVDP XQG VRJDU NRPLVFKDEHUSO|W]OLFKVFKLHQHULQVWDUNH(UUHJXQJ]XJHUDWHQ XQGULHIª(ULQQHUQ6LHPLFKQLFKWDQPHLQ%HQHKPHQYRUGUHL 7DJHQ ,FK KDEH PLFK GLHVH GUHL 7DJH VHKU JHVFKlPW ,FK ZHL GD LFK VFKOHFKW JHKDQGHOW KDEH © ª$EHU DEHU ZDV KDEHQ 6LH GHQQ VR 6FKUHFNOLFKHV JHWDQ"© ª,FK VHKH GD 6LH
VLFK YLHOOHLFKW PHKU IU PLFK VFKlPHQ DOV HV GLH DQGHUQ DOOH WXQ -HZJHQLM 3DZORZLWVFK 6LH HUU|WHQ XQG GDV LVW GDV =HLFKHQHLQHV JXWHQ +HU]HQV ,FK JHKH VRJOHLFK ZHJ JODXEHQ 6LHPLU©ª$EHUZDVKDWHUGHQQQXU")DQJHQHWZDGLH$QIlOOH EHL LKP VR DQ"© ZDQGWH VLFK /LVDZHWD 3URNRIMHZQD HUVFKURFNHQ DQ .ROMD ª%HDFKWHQ 6LH GDV QLFKW ZHLWHU /LVDZHWD3URNRIMHZQDLFKEHNRPPHNHLQHQ$QIDOOLFKZHUGH JOHLFK ZHJJHKHQ ,FK ZHL GD LFK YRQ GHU 1DWXU VWLHIPWWHUOLFK EHKDQGHOW ELQ ,FK ELQ YLHUXQG]ZDQ]LJ -DKUH NUDQN JHZHVHQ ELV ]X PHLQHP YLHUXQG]ZDQ]LJVWHQ /HEHQVMDKU )DVVHQ 6LH DXFK MHW]W PHLQH :RUWH XQG +DQGOXQJHQ DOV GLH HLQHV .UDQNHQ DXI ,FK ZHUGH JOHLFK ZHJJHKHQ JOHLFK VHLHQ 6LH GHVVHQ YHUVLFKHUW ,FK HUU|WH GHVZHJHQQLFKWGHQQHVZlUHMDZXQGHUOLFKZHQQLFKGDUEHU HUU|WHQZROOWHQLFKWZDKU"$EHUIUGLH*HVHOOVFKDIWWDXJHLFK QLFKW ,FK VDJH GDV QLFKW DXV JHNUlQNWHP (KUJHIKO ,FK KDEH LQ GLHVHQ GUHL 7DJHQ YLHO QDFKJHGDFKW XQG ELQ ]X GHU (LQVLFKW JHNRPPHQ GD LFK ,KQHQ EHL HUVWHU *HOHJHQKHLW PHLQHQ (QWVFKOX RIIHQ XQG HKUOLFK PLWWHLOHQ PX (V JLEW ,GHHQKRKH,GHHQYRQGHQHQLFKQLFKW]XUHGHQDQIDQJHQGDUI ZHLO LFK XQIHKOEDU DOOH ]XP /DFKHQ EULQJHQ ZUGH HEHQ GLHV KDWPLU)UVW6FKWVFKVRHEHQLQV*HGlFKWQLV]XUFNJHUXIHQ ,FK EHVLW]H NHLQ VFKLFNOLFKHV %HQHKPHQ XQG PHLQH *HIKOH VLQG PDORV PHLQH :RUWH HQWVSUHFKHQ PHLQHQ *HGDQNHQ QLFKW VRQGHUQ NRPPHQ DQGHUV KHUDXV GDULQ DEHU OLHJW HLQH +HUDEZUGLJXQJ GLHVHU *HGDQNHQ 8QG GDKHU KDEH LFK NHLQ 5HFKW $XHUGHP ELQ LFK PLWUDXLVFK LFK LFK ELQ EHU]HXJW GD PLFK LQ GLHVHP +DXVH QLHPDQG NUlQNHQ ZLOO XQGGDLFKKLHUPHKUJHOLHEWZHUGHDOVLFKYHUGLHQHDEHULFK ZHL ZHL ]XYHUOlVVLJ GD QDFK HLQHU YLHUXQG]ZDQ]LJ± MlKULJHQ .UDQNKHLW QRWZHQGLJHUZHLVH HWZDV ]XUFNEOHLEHQ PXWHVRGDGLH0HQVFKHQPDQFKPDOQLFKWXPKLQN|QQHQ EHUPLFK]XODFKHQQLFKWZDKU"© (UEOLFNWHXPVLFKXQGVFKLHQHLQH(UZLGHUXQJHLQH$QWZRUW
DXI VHLQH )UDJH ]X HUZDUWHQ $OOH VWDQGHQ VWXPP GD SHLQOLFK EHUKUW GXUFK GLHVHV XQHUZDUWHWH NUDQNKDIWH XQG ZLH HV VFKLHQ MHGHU 8UVDFKH HQWEHKUHQGH %HQHKPHQ $EHU GLHVHV %HQHKPHQ JDE ]X HLQHU VHOWVDPHQ (SLVRGH $QOD ª:DUXP VDJHQ6LH GDV KLHU"© ULHI $JODMD SO|W]OLFK ª:DUXP VDJHQ 6LH GDV ]X GLHVHQ 0HQVFKHQ" =X GLHVHQ 0HQVFKHQ =X GLHVHQ 0HQVFKHQ© 6LH VFKLHQ LP K|FKVWHQ *UDGH HQWUVWHW ]X VHLQ LKUH $XJHQ VSUKWHQ)XQNHQ'HU)UVWVWDQGVWXPPXQGVSUDFKORVYRULKU XQGZXUGHDXIHLQPDOJDQ]EODª+LHULVWQLHPDQGGHUVROFKH :RUWH YHUGLHQWH© IXKU $JODMD KHIWLJ IRUW ª$OOH GLH KLHU DQZHVHQG VLQG VLQG QLFKW VR YLHO ZHUW ZLH ,KU NOHLQHU )LQJHU XQG UHLFKHQ QLFKW DQ ,KUHQ 9HUVWDQG XQG ,KU +HU] KHUDQ 6LH VLQGHKUOLFKHUDOVVLHDOOHHGOHUDOVVLHDOOHNOJHUDOVVLHDOOH 0DQFKH VLQG KLHU QLFKW ZHUW VLFK ]X EFNHQ XQG GDV 7DVFKHQWXFK DXI]XKHEHQ GDV 6LH VRHEHQ KDEHQ KLQIDOOHQ ODVVHQ :DUXP VHW]HQ 6LH VLFK VHOEVW KHUDE XQG VWHOOHQ VLFK QLHGULJHU DOV DOOH" :DUXP NDULNLHUHQ 6LH DOO ,KUH JXWHQ (LJHQVFKDIWHQ" :DUXP EHVLW]HQ 6LH VR JDU NHLQHQ 6WRO]"© ª0HLQ*RWWLVWHV]XJODXEHQ"©ULHI/LVDZHWD3URNRIMHZQDXQG VFKOXJGLH+lQGH]XVDPPHQª'HUDUPH5LWWHU+XUUD©VFKULH .ROMDEHJHLVWHUWª6FKZHLJHQ6LH:LHNDQQMHPDQGZDJHQ PLFKKLHULQ,KUHP+DXVH]XEHOHLGLJHQ©ILHO$JODMDSO|W]OLFK PLW JU|WHU +HIWLJNHLW EHU LKUH 0XWWHU KHU 6LH EHIDQG VLFK EHUHLWV LQ MHQHP K\VWHULVFKHQ =XVWDQG LQ GHP GHU 0HQVFK NHLQH *UHQ]HQ PHKU NHQQW XQG EHU MHGHV +LQGHUQLV KLQZHJVFKUHLWHW ª:DUXP SHLQLJHQ VLH PLFK DOOH DOOH RKQH $XVQDKPH":DUXPKDEHQDOOHGLHVH0HQVFKHQPLUGLHVHGUHL 7DJH ODQJ XP ,KUHWZLOOHQ ]XJHVHW]W )UVW" ,FK ZHUGH 6LH XP NHLQHQ 3UHLV KHLUDWHQ +|UHQ 6LH ZRKO XP NHLQHQ 3UHLV XQG QLHPDOV 'DV P|JHQ 6LH ZLVVHQ :LH NDQQ PDQ GHQQ DXFK HLQHQ VR OlFKHUOLFKHQ 0HQVFKHQ ZLH 6LH KHLUDWHQ" %HWUDFKWHQ 6LH VLFK MHW]W QXU HLQPDO LP 6SLHJHO ZLH 6LH GDVWHKHQ :DUXP ZDUXP ]LHKHQ PLFK DOOH GDPLW DXI GD LFK 6LH
KHLUDWHQZHUGH"6LH6LHPVVHQGDVZLVVHQ6LHVLQGDXFKPLW LQ GHU 9HUVFKZ|UXQJ© ª1LH KDW GLFK MHPDQG GDPLW DXIJH]RJHQ©PXUPHOWH$GHODLGD HUVFKURFNHQ ª(VLVWNHLQHP LQGHQ6LQQJHNRPPHQNHLQ:RUWYRQGHU$UWLVWJHVSURFKHQ ZRUGHQ©ULHI$OH[DQGUD,ZDQRZQDª:HUKDWVLHDXIJH]RJHQ" :DQQ LVW GDV JHVFKHKHQ" :HU KDW HV IHUWLJJHEUDFKW VR HWZDV ]X LKU ]X VDJHQ" 5HGHW VLH LUUH"© 0LW GLHVHQ )UDJHQ ZDQGWH VLFK /LVDZHWD 3URNRIMHZQD ]LWWHUQG YRU =RUQ DQ DOOH $QZHVHQGHQª$OOHKDEHQHVJHVDJWDOOHRKQH$XVQDKPHGLH JDQ]HQ GUHL 7DJH ODQJ $EHU LFK ZHUGH LKQ QLHPDOV KHLUDWHQ QLHPDOV© 1DFKGLHVHQKHIWLJKHUYRUJHVWRHQHQ:RUWHQEUDFK$JODMDLQ ELWWHUH 7UlQHQ DXV YHUEDUJ LKU *HVLFKW LP 7DVFKHQWXFK XQG OLH VLFK DXI HLQHQ 6WXKO VLQNHQ ª$EHU HU KDW GLU MD QRFK JDU NHLQHQ $QWUDJ © ª,FK KDEH ,KQHQ NHLQHQ $QWUDJ JHPDFKW $JODMD ,ZDQRZQD© HQWIXKU HV GHP )UVWHQ XQZLOONUOLFK ª:DDV"© ULHI /LVDZHWD 3URNRIMHZQD HUVWDXQW HQWUVWHW HUVFKURFNHQDXVXQG]RJGLHVHV:RUWVHKULQGLH/lQJHª:DV ±VROO±GDV±KHLHQ"© 6LHZROOWHLKUHQ2KUHQQLFKWWUDXHQª,FKZROOWHVDJHQLFK ZROOWHVDJHQ©HUZLGHUWHGHU)UVW]LWWHUQGªLFKZROOWH$JODMD ,ZDQRZQDQXUHUNOlUHQGLH(KUHKDEHQ]XHUNOlUHQGDLFK EHUKDXSW QLFKW EHDEVLFKWLJWH GLH (KUH ]X KDEHQ XP LKUH +DQG ]X ELWWHQ ]X NHLQHU =HLW ,FK ELQ KLHUEHL JDQ] XQVFKXOGLJ EHL *RWW JDQ] XQVFKXOGLJ $JODMD ,ZDQRZQD ,FK KDEHHVQLHJHZROOWXQGHVLVWPLUQLHLQGHQ6LQQJHNRPPHQ LFK ZHUGH HV QLHPDOV ZROOHQ GDV ZHUGHQ 6LH VHOEVW VHKHQ GDYRQN|QQHQ6LHEHU]HXJWVHLQ,UJHQGHLQVFKOHFKWHU0HQVFK PX PLFK EHL ,KQHQ YHUOHXPGHW KDEHQ 6HLHQ 6LH JDQ] EHUXKLJW© :lKUHQG HU GDV VDJWH QlKHUWH HU VLFK GHP DXIJHUHJWHQ 0lGFKHQ 'LHVH QDKP GDV 7DVFKHQWXFK ZHJ PLW GHP VLH LKU *HVLFKWYHUKOOWKDWWHZDUI HLQHQVFKQHOOHQ %OLFNDXILKQXQG VHLQH JDQ]H HUVFKURFNHQH *HVWDOW ZXUGH VLFK EHU GHQ 6LQQ
VHLQHU :RUWH NODU XQG ODFKWH LKP DXI HLQPDO JHUDGH LQV *HVLFKW PLW HLQHP VR OXVWLJHQ XQEH]ZLQJEDUHQ /DFKHQ HLQHP VR NRPLVFKHQ VS|WWLVFKHQ /DFKHQ GD DOV HUVWH $GHODLGD VLFK QLFKW KDOWHQ NRQQWH QDPHQWOLFK QDFKGHP VLH HEHQIDOOV GHQ )UVWHQ DQJHEOLFNW KDWWH ]X LKUHU 6FKZHVWHU KLQVWU]WH VLH XPDUPWH XQG LQ HLQ HEHQVR XQEH]ZLQJEDUHV VFKXOPlGFKHQKDIW OXVWLJHV /DFKHQ DXVEUDFK ZLH GLHVH %HLP $QEOLFN GHU EHLGHQ EHJDQQ GHU )UVW SO|W]OLFK ]X OlFKHOQ XQG VDJWHPLWIU|KOLFKHUJOFNVHOLJHU0LHQHPHKUPDOVª1XQ*RWW VHL'DQN*RWWVHL'DQN© -HW]W NRQQWH VLFK DXFK $OH[DQGUD QLFKW PHKU EHKHUUVFKHQ XQG EHJDQQ HEHQVR KHU]KDIW ]X ODFKHQ (V VFKLHQ DOV ZROOWH GLHVHV *HOlFKWHU GHU GUHL 0lGFKHQ JDU NHLQ (QGH QHKPHQ ª1D VLH VLQG YHUUFNW© PXUPHOWH /LVDZHWD 3URNRIMHZQD ª(UVWMDJHQVLHHLQHPHLQHQ6FKUHFNHLQXQGGDQQ© $EHU MHW]W ODFKWH DXFK VFKRQ )UVW 6FKWVFK DXFK -HZJHQLM 3DZORZLWVFK ODFKWH .ROMD ODFKWH RKQH $XIK|UHQ XQG EHLP $QEOLFN GHV DOOJHPHLQHQ *HOlFKWHUV ODFKWH DXFK GHU )UVW ª:LU ZROOHQ 6SD]LHUHQJHKHQ ZLU ZROOHQ 6SD]LHUHQJHKHQ© ULHI $GHODLGD ª$OOH ]XVDPPHQ ZROOHQ ZLU JHKHQ XQG ±GHU )UVW PX XQEHGLQJW PLW XQV NRPPHQ 6LH GUIHQ QLFKW ZHJJHKHQ 6LH OLHEHU 0HQVFK :DV IU HLQ OLHEHU 0HQVFK HU LVW $JODMD 1LFKW ZDKU 0DPDFKHQ" ,FK PX LKQ XQEHGLQJW XQEHGLQJW XPDUPHQ XQG LKP HLQHQ .X JHEHQ IU IU GLH (UNOlUXQJ GLH HU XQVHUHU $JODMD VRHEHQ JHPDFKW KDW /LHEH PDPDQ HUODXEHQ 6LH PLU LKP HLQHQ .X ]X JHEHQ $JODMD HUODXEH PLU GHLQHQ )UVWHQ ]X NVVHQ© ULHI GLH hEHUPWLJH VSUDQJ ZLUNOLFK ]X GHP )UVWHQ KLQ XQG NWH LKQ DXI GLH 6WLUQ'LHVHUHUJULIILKUHEHLGHQ+lQGHGUFNWHVLHNUlIWLJVR GD$GHODLGDEHLQDKDXIVFKULHVDKLKUPLWJUHQ]HQORVHU)UHXGH LQV*HVLFKWIKUWHSO|W]OLFKVFKQHOOLKUH+DQGDQVHLQH/LSSHQ XQG NWH VLH GUHLPDO ª:LU ZROOHQ JHKHQ© ULHI $JODMD ª)UVW6LHVROOHQPLFKIKUHQ'DUIGDVHLQMXQJHU0DQQWXQ PDPDQGHUPLUHLQHQ.RUEJHJHEHQKDW",KUH$EVDJHDQPLFK
JLOWMDGRFKZRKOJOHLFKIUGDVJDQ]H/HEHQ)UVW"$EHUGRFK QLFKWVR6RJLEWPDQHLQHU'DPHGRFKQLFKWGHQ$UP:LVVHQ 6LHGHQQQLFKWZLHPDQHLQH 'DPHDP $UPIKUW"6RPDFKW PDQ GDV 1XQ NRPPHQ 6LH ZLU ZROOHQ DOOHQ YRUDQJHKHQ ZROOHQ6LHPLWPLUYRUDQJHKHQWHWH±l±WHWH"© 6LH VSUDFK RKQH 3DXVH XQG ZXUGH GD]ZLVFKHQ LPPHU QRFK ZLHGHU YRQ /DFKHQ JHVFKWWHOW ª*RWW VHL 'DQN *RWW VHL 'DQN© VDJWH /LVDZHWD3URNRIMHZQD HLQ 0DO EHU GDV DQGHUH RKQH VHOEVW ]X ZLVVHQ ZRUEHU VLH VLFK HLJHQWOLFK IUHXWH ª*DQ]VRQGHUEDUH0HQVFKHQ©GDFKWH)UVW6FKWVFKYLHOOHLFKW ]XP KXQGHUWVWHQPDO VHLW HU VLH NHQQHQJHOHUQW KDWWH DEHU GLHVH VRQGHUEDUHQ 0HQVFKHQ JHILHOHQ LKP :DV GHQ )UVWHQ DQODQJWHVRJHILHOLKPGHUYLHOOHLFKWQLFKWVREHVRQGHUV)UVW 6FKWVFKPDFKWHHLQVHKUHUQVWHV*HVLFKWXQGVFKLHQQLFKWIUHL YRQ6RUJHQDOVDOOHGHQ6SD]LHUJDQJDQWUDWHQ -HZJHQLM 3DZORZLWVFK EHIDQG VLFK DQVFKHLQHQG LQ KHLWHUVWHU *HPWVVWLPPXQJ ZlKUHQG GHV JDQ]HQ :HJHV ]XP 9DX[KDOO XQWHUKLHOWHU$OH[DQGUDXQG$GHODLGDPLWGHQOXVWLJVWHQ5HGHQ XQG GLH MXQJHQ 'DPHQ ODFKWHQ PLW JDQ] EHVRQGHUHU %HUHLWZLOOLJNHLW EHU VHLQH 6FKHU]H PLW HLQHU VROFKHQ %HUHLWZLOOLJNHLWGDLKPGHU*HGDQNHGXUFKGHQ.RSIVFKR VLHK|UWHQDXIGDVZDVHUVDJWHYLHOOHLFKWEHUKDXSWQLFKWKLQ ,QIROJHGLHVHV*HGDQNHQVEUDFKHUSO|W]OLFKRKQHHLQHQ*UXQG DQ]XJHEHQLQODXWHV*HOlFKWHU DXV GDV LKP JDQ] YRQ +HU]HQ NDP VR ZDU QXQ HLQPDO VHLQ &KDUDNWHU 'LH EHLGHQ 6FKZHVWHUQ GLH EULJHQV LQ HLQHU $UW IHVWOLFKHU 6WLPPXQJ ZDUHQEOLFNWHQIRUWZlKUHQGQDFK$JODMDXQGGHP)UVWHQKLQ GLH YRU LKQHQ JLQJHQ RIIHQEDU KDWWH GLH MQJVWH 6FKZHVWHU LKQHQ HLQ VFKZHUHV 5lWVHO DXIJHJHEHQ )UVW 6FKWVFK ZDU DQGDXHUQGEHPKW/LVDZHWD3URNRIMHZQDPLWQHEHQVlFKOLFKHQ 'LQJHQ ]X XQWHUKDOWHQ YLHOOHLFKW XP VLH ]X ]HUVWUHXHQ XQG ZXUGH LKU GDPLW VHKU OlVWLJ 6LH VFKLHQ JDQ] YHUVW|UW ]X VHLQ XQG JDE $QWZRUWHQ GLH QLFKW ]X GHQ )UDJHQ SDWHQ PLWXQWHU DQWZRUWHWH VLH DXFK EHUKDXSW QLFKW $EHU GLH 5lWVHO GLH
$JODMD,ZDQRZQDGHQDQGHUHQDQGLHVHP$EHQGDXIJDEKDWWHQ QRFK QLFKW LKU (QGH HUUHLFKW 'DV OHW]WH 5lWVHO OHJWH VLH GHP )UVWHQ DOOHLQ YRU $OV VLH VLFK XQJHIlKU KXQGHUW 6FKULWWH YRQ GHP /DQGKDXV HQWIHUQW KDWWHQ VDJWH $JODMD KDVWLJ KDOE IOVWHUQG ]X LKUHP KDUWQlFNLJ VFKZHLJHQGHQ .DYDOLHU ª%OLFNHQ6LHHLQPDOQDFKUHFKWV© 'HU )UVWEOLFNWHQDFKGHU DQJHJHEHQHQ 5LFKWXQJ ª%OLFNHQ 6LHUHFKWDXIPHUNVDPKLQ6HKHQ6LHGDHLQH%DQNLP3DUNGD ZRGLHGUHLJURHQ%lXPHVWHKHQHLQHJUQH%DQN"© 'HU )UVW DQWZRUWHWH GD HU VLH VHKH ª*HIlOOW ,KQHQ GDV 3OlW]FKHQ",FKJHKHPDQFKPDOIUKPRUJHQVJHJHQVLHEHQ8KU ZHQQDOOHQRFKVFKODIHQDOOHLQGRUWKLQXQGVLW]HGD© 'HU)UVWPXUPHOWHHVVHLHLQVHKUVFK|QHV3OlW]FKHQª$EHU MHW]W ODVVHQ 6LH PLFK ORV LFK P|FKWH QLFKW OlQJHU PLW ,KQHQ XQWHUJHIDW JHKHQ 2GHU EHVVHU VR ODVVHQ 6LH PLU ,KUHQ $UP DEHU UHGHQ 6LH PLW PLU NHLQ :RUW ,FK P|FKWH VWLOO IU PLFK QDFKGHQNHQ© 'LHVHV 9HUERW ZDU MHGHQIDOOV EHUIOVVLJ GHU )UVW KlWWH VLFKHUOLFK DXFK RKQH VROFKH :HLVXQJ DXI GHP JDQ]HQ :HJ NHLQ:RUWJHVSURFKHQ6HLQ+HU]EHJDQQIXUFKWEDU]XNORSIHQ DOV HU GLH 0LWWHLOXQJ YRQ GHU %DQN K|UWH (LQHQ $XJHQEOLFN GDUDXIKDWWHHUVLFKZLHGHU JHVDPPHOWXQGZLHVYROOHU6FKDP HLQHQDEVXUGHQ*HGDQNHQ]XUFNGHULKPJHNRPPHQZDU ,Q GHP 9DX[KDOO LQ 3DZORZVN YHUVDPPHOW VLFK DQ GHQ :RFKHQWDJHQ ZLH DOOJHPHLQ EHNDQQW LVW RGHU ZHQLJVWHQV DOOH EHKDXSWHQ HLQ ªIHLQHUHV© 3XEOLNXP DOV DQ 6RQQ± XQG )HVWWDJHQ ZR ªDOOHP|JOLFKHQ /HXWH© DXVGHU6WDGWNRPPHQ 'LH7RLOHWWHQVLQGQLFKWIHVWOLFKDEHUHOHJDQW(VLVW6LWWHVLFK EHLGHU0XVLN]XWUHIIHQ'LH.DSHOOHLVWYLHOOHLFKWWDWVlFKOLFK GLH EHVWH XQVHUHU *DUWHQNDSHOOHQ XQG VSLHOW PRGHUQH 6DFKHQ 0DQ EHQLPPW VLFK GRUW DXHURUGHQWOLFK VWHLI XQG NRUUHNW REZRKO GDV *DQ]H ELV ]X HLQHP JHZLVVHQ *UDGH HLQHQ IDPLOLlUHQ MD LQWLPHQ $QVWULFK KDW %HNDQQWH VlPWOLFK
6RPPHUIULVFKOHU ILQGHQ VLFK GRUW ]XVDPPHQ XP VLFK JHJHQVHLWLJ ]X PXVWHUQ 9LHOH YROOIKUHQ GDV PLW ZLUNOLFKHP 9HUJQJHQXQGJHKHQQXU]XGLHVHP=ZHFNHKLQDEHUHVJLEW DXFK HLQLJH GLH OHGLJOLFK XP GHU 0XVLN ZLOOHQ NRPPHQ 6NDQGDOV]HQHQ VLQG lXHUVW VHOWHQ REZRKO VLH DXFK DQ :RFKHQWDJHQ YRUNRPPHQ $EHU JDQ] RKQH GDV JHKW HV QXQ HLQPDOQLFKWDE (V ZDU GLHVPDO HLQ ZXQGHUYROOHU $EHQG XQG ]LHPOLFK YLHO 3XEOLNXP EHLVDPPHQ $OOH 3OlW]H LQ GHU 8PJHEXQJ GHU PXVL]LHUHQGHQ .DSHOOH ZDUHQ EHVHW]W 8QVHUH *HVHOOVFKDIW QDKP DXI 6WKOHQ HWZDV PHKU VHLWZlUWV 3ODW] GLFKW EHL GHP OLQNHQ 9DX[KDOODXVJDQJ 'LH EXQWH 0HQJH XQG GLH 0XVLN EWHQDXI/LVDZHWD3URNRIMHZQDELV]XHLQHPJHZLVVHQ*UDGH HLQHEHOHEHQGH :LUNXQJ DXV XQG EUDFKWHQ GHQ MXQJHQ 'DPHQ HWZDV=HUVWUHXXQJVLHKDWWHQVFKRQ=HLWJHIXQGHQPLWGLHVHP XQG MHQHP LKUHU %HNDQQWHQ HLQHQ %OLFN ]X ZHFKVHOQ GHP HLQHQ XQG DQGHUQ YRQ ZHLWHP IUHXQGOLFK ]X]XQLFNHQ GLH 7RLOHWWHQ ]X EHWUDFKWHQ HLQLJH 6RQGHUEDUNHLWHQ GDUDQ ]X EHPHUNHQGDUEHULKUH$QVLFKWHQDXV]XWDXVFKHQXQGVS|WWLVFK ]XOlFKHOQ-HZJHQLM3DZORZLWVFKYHUQHLJWHVLFKHEHQIDOOVVHKU KlXILJ $XI $JODMD XQG GHQ )UVWHQ GLH LPPHU QRFK ]XVDPPHQZDUHQZDUVFKRQPDQFKHU DXIPHUNVDP JHZRUGHQ %DOG WUDWHQ ]XU 0XWWHU XQG ]X GHQ MXQJHQ 'DPHQ HLQ]HOQH MXQJH 0lQQHU DXV LKUHP %HNDQQWHQNUHLV KHUDQ XP VLH ]X EHJUHQ]ZHLRGHUGUHLEOLHEHQGDXQGXQWHUKLHOWHQVLFKPLW LKQHQ DOOH ZDUHQ VLH PLW -HZJHQLM 3DZORZLWVFK EHIUHXQGHW 8QWHULKQHQEHIDQGVLFKHLQMXQJHUVHKUKEVFKHU2IIL]LHUHLQ VHKU PXQWHUHU JHVSUlFKLJHU 0HQVFK HU EHHLOWH VLFK PLW $JODMDHLQ*HVSUlFKDQ]XNQSIHQXQGEHPKWHVLFKDXVDOOHQ .UlIWHQ LKU ,QWHUHVVH ]X HUUHJHQ $JODMD EHQDKP VLFK LKP JHJHQEHU VHKU JQlGLJ XQG ZDU VHKU ODFKOXVWLJ -HZJHQLM 3DZORZLWVFKEDWGHQ)UVWHQXPGLH(UODXEQLVLKQPLWGLHVHP )UHXQG EHNDQQW PDFKHQ ]X GUIHQ GHU )UVW YHUVWDQG NDXP ZDV PDQ PLW LKP YRUKDWWH DEHU GLH 9RUVWHOOXQJ NDP GRFK
]XVWDQGH EHLGH YHUEHXJWHQ VLFK XQG UHLFKWHQ HLQDQGHU GLH +DQG -HZJHQLM 3DZORZLWVFKV )UHXQG VWHOOWH HLQH )UDJH DEHU GHU )UVW DQWZRUWHWH ZLH HV VFKLHQ JDU QLFKW GDUDXI RGHU PXUPHOWH K|FKVWHQV LQ VR VRQGHUEDUHU :HLVH HWZDV YRU VLFK KLQ GD GHU 2IIL]LHU LKQ PLW HLQHP SUIHQGHQ %OLFN VFKDUI DQVFKDXWH GDQQ QDFK -HZJHQLM 3DZORZLWVFK KLQVDK VRJOHLFK EHJULII ZDUXP GLHVHU GHQ (LQIDOO JHKDEW KDWWH VLH HLQDQGHU YRU]XVWHOOHQOHLVHOlFKHOWHXQGVLFKZLHGHU]X$JODMD ZDQGWH 1XU-HZJHQLM3DZORZLWVFKQDKPHVZDKUGD$JODMDSO|W]OLFK GDUEHUHUU|WHWH 'HU )UVW EHPHUNWH HV QLFKW HLQPDO GD DQGHUH PLW $JODMD VSUDFKHQ XQG LKU GHQ +RI PDFKWHQ PLQXWHQODQJ YHUJD HU VRJDU GD HU VHOEVW QHEHQ LKU VD 0DQFKPDO EHILHO LKQ HLQ 9HUODQJHQ IRUW]XJHKHQ JDQ] YRQ KLHU ]X YHUVFKZLQGHQ HV KlWWH LKP VRJDU HLQ GVWHUHU |GHU 2UW ]XJHVDJW ZHQQ HU QXU KlWWH PLW VHLQHQ *HGDQNHQ DOOHLQ VHLQ N|QQHQ XQG QLHPDQG JHZXW KlWWH ZR HU VLFK EHIlQGH 2GHU ZHQQ HU ZHQLJVWHQV KlWWHEHLVLFK]X+DXVH VHLQ N|QQHQ LQ GHU 9HUDQGD DEHU VR GD QLHPDQG EHL LKP ZlUH ZHGHU /HEHGHZ QRFK GLH .LQGHU GDQQ Kl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lUHHUMHW]WZLHGHUGRUW JHZHVHQXQGKlWWHDQGDVHLQHJHGDFKW±RKGDVJDQ]H/HEHQ QXU GDUDQ ± XQG IU WDXVHQG -DKUH KlWWH HU DQ GLHVHP HLQHQ *HGDQNHQJHQXJJHKDEW8QGPRFKWHQVLHLKQKLHUGRFKJDQ] YHUJHVVHQ 2KGDVZDU VRJDU QRWZHQGLJ XQG GDV EHVWH ZUGH VHLQZHQQPDQLKQKLHUJDUQLFKW JHNDQQWKlWWHXQG GDV DOOHV
QXUHLQ7UDXPELOGJHZHVHQZlUH$EHUZDUHVGHQQQLFKWJDQ] JOHLFK RE HV HLQ 7UDXP RGHU :LUNOLFKNHLW ZDU" 0DQFKPDO EHJDQQ HU SO|W]OLFK $JODMD ]X EHWUDFKWHQ XQG NRQQWH IQI 0LQXWHQODQJVHLQHQ%OLFNQLFKWYRQLKUHP*HVLFKWORVUHLHQ DEHUVHLQ%OLFNZDUVHKUVRQGHUEDUHUVFKLHQVLHVRDQ]XVHKHQ DOV ZlUH VLH HLQ HWZD ]ZHL :HUVW YRQ LKP HQWIHUQWHU *HJHQVWDQG RGHU DOV ZlUH VLH LKU 3RUWUlW XQG QLFKW VLH VHOEVW ª:DUXP VHKHQ 6LH PLFK GHQQ VR DQ )UVW"© IUDJWH VLH DXI HLQPDOLQGHPVLHGDVKHLWHUH*HSODXGHUXQG*HODFKHPLWLKUHU 8PJHEXQJ XQWHUEUDFK ª,FK IUFKWH PLFK YRU ,KQHQ LFK KDEH LPPHUGLH9RUVWHOOXQJ6LHZROOWHQGLH +DQG DXVVWUHFNHQ XQG PHLQ *HVLFKW PLW GHQ )LQJHUQ EHUKUHQ XP HV ]X EHIKOHQ 1LFKWZDKU-HZJHQLM3DZORZLWVFKVRVLHKWHUPLFKDQ"© 'HU )UVW K|UWH ZLH HV VFKLHQ PLW (UVWDXQHQ GD VLFK MHPDQG DQ LKQ ZDQGWH EHUOHJWH GDV *HVDJWH REZRKO HU HV YLHOOHLFKWQLFKWJDQ]YHUVWDQGJDEMHGRFKNHLQH$QWZRUWDEHU DOVHUVDKGDVLHXQGDOOHDQGHUQODFKWHQ|IIQHWHHUSO|W]OLFK GHQ 0XQG XQG EHJDQQ HEHQIDOOV ]X ODFKHQ 'DV *HOlFKWHU ULQJVXP ZXUGH QRFK VWlUNHU GHU 2IIL]LHU GHU RIIHQEDU HLQ ODFKOXVWLJHU 0HQVFK ZDU VFKWWHOWH VLFK QXU VR YRU /DFKHQ $JODMDIOVWHUWHDXIHLQPDO]RUQLJYRUVLFKKLQª6RHLQ,GLRW© ¾2*RWW.DQQVLHGHQQZLUNOLFKVRHLQHQLVWVLHGHQQJDQ] YHUUFNW JHZRUGHQ"½ GDFKWH /LVDZHWD 3URNRIMHZQD ]lKQHNQLUVFKHQG ª(V LVW HLQ 6FKHU] (V LVW GHUVHOEH 6FKHU] ZLHGDPDOVPLWGHP¾DUPHQ5LWWHU½©IOVWHUWHLKU$OH[DQGUDLP 7RQ IHVWHU hEHU]HXJXQJ LQV 2KU ªZHLWHU QLFKWV 6LH KDW VLFK DXILKUH:HLVHZLHGHUEHULKQOXVWLJJHPDFKW1XUJHKWGLHVHU 6FKHU]]XZHLWGHP PX HLQ (QGH JHPDFKW ZHUGHQ PDPDQ 9RUKLQ KDW VLH XQV ZLH HLQH .RP|GLDQWLQ HLQH 6]HQH YRUJHVSLHOWXQGXQVDXV8QDUWHLQHQ6FKUHFNHLQJHMDJW©ª(V LVW QRFK HLQ *OFN GD VLH DQ HLQHQ VROFKHQ ,GLRWHQ JHUDWHQ LVW© IOVWHUWH LKU /LVDZHWD 3URNRIMHZQD DOV $QWZRUW ]X 'LH %HPHUNXQJGHU7RFKWHUKDWWHLKUGRFKGDV+HU]HWZDVOHLFKWHU JHPDFKW
'HU )UVW K|UWH GD HU HLQ ,GLRW JHQDQQW ZXUGH XQG IXKU ]XVDPPHQ DEHU QLFKW LQIROJH GLHVHU %HQHQQXQJ 'HQ ª,GLRWHQ© YHUJD HU VRIRUW ZLHGHU $EHU LQ GHU 0HQJH QLFKW ZHLW YRQ GHU 6WHOOH ZR HU VD LUJHQGZR VHLWZlUWV ± HU KlWWH GLH6WHOOHXQGGHQ3XQNWZRHVJHZHVHQZDUVFKOHFKWHUGLQJV QLFKW EH]HLFKQHQ N|QQHQ ± ZDU HLQ 0lQQHUJHVLFKW DXIJHWDXFKWHLQEODVVHV*HVLFKWPLWORFNLJHPGXQNOHP+DDU PLWHLQHPLKPEHNDQQWHQVHKUEHNDQQWHQ%OLFNXQG/lFKHOQ± HV ZDU DXIJHWDXFKW XQG ZLHGHU YHUVFKZXQGHQ 6HKU P|JOLFK GD HU HV VLFK QXU HLQJHELOGHW KDWWH YRQ GHU JDQ]HQ 9LVLRQ EOLHELKPQXUGHU(LQGUXFNGHVVFKLHIHQ /lFKHOQV GHU $XJHQ XQG GHV KHOOJUQHQ VWXW]HUKDIWHQ +DOVWXFKHV GDV GHU YRUEHUKXVFKHQGH+HUUJHWUDJHQKDWWHLP*HGlFKWQLVKDIWHQ 2E GLHVHU +HUU LQ GHU 0HQJH YHUVFKZXQGHQ RGHU LQ GDV 9DX[KDOOJHElXGH KLQHLQJHVFKOSIW ZDU GDV KlWWH GHU )UVW JOHLFKIDOOVQLFKW]XVDJHQYHUPRFKW $EHUHLQHQ$XJHQEOLFNGDUDXIEHJDQQ HUDXIHLQPDOVFKQHOO XQGXQUXKLJXPVLFK]XEOLFNHQGLHVHHUVWH9LVLRQNRQQWHGLH 9RUERWLQ XQG 9RUOlXIHULQ HLQHU ]ZHLWHQ VHLQ 'DV ZDU PLW 6LFKHUKHLWDQ]XQHKPHQ+DWWHHUZLUNOLFKDOVHUVLFKQDFKGHP 9DX[KDOO EHJDE JDU QLFKW DQ GLH 0|JOLFKNHLW HLQHV =XVDPPHQWUHLIHQV JHGDFKW" :lKUHQG HU QDFK GHP 9DX[KDOO JLQJKDWWHHUDOOHUGLQJVJDUQLFKWJHZXWGDHUGRUWKLQJLQJ± LQ HLQHP VROFKHQ =XVWDQG KDWWH HU VLFK EHIXQGHQ :HQQ HU DXIPHUNVDPHUKlWWHVHLQN|QQHQRGHUZROOHQVRKlWWHHUVFKRQ YRU HLQHU 9LHUWHOVWXQGH EHPHUNHQ N|QQHQ GD $JODMD DE XQG ]X HEHQIDOOV PLW HLQHU JHZLVVHQ 8QUXKH HLOLJ XP VLFK EOLFNWH HEHQIDOOVDOVREVLHHWZDVXPVLFKKHUXPVXFKH-HW]WDOVVHLQH 8QUXKH VWDUN EHPHUNEDU ZXUGH ZXFKV DXFK $JODMDV $XIUHJXQJXQG8QUXKHXQGNDXPEOLFNWHHU UFNZlUWVVRWDW DXFK VLH IDVW LP JOHLFKHQ $XJHQEOLFN GDVVHOEH 'DV (UHLJQLV GHP PLW VROFKHU 8QUXKH HQWJHJHQJHVHKHQ ZXUGH OLH QLFKW ODQJHDXIVLFKZDUWHQ 9RQ HEHQ MHQHP 6HLWHQDXVJDQJ DXV GHP 9DX[KDOO QHEHQ
GHP GHU )UVW XQG GLH JDQ]H -HSDQWVFKLQVFKH *HVHOOVFKDIW 3ODW] JHQRPPHQ KDWWHQ HUVFKLHQ SO|W]OLFK HLQ JDQ]HU 6FKZDUP YRQ PLQGHVWHQV ]HKQ 0HQVFKHQ $Q GHU 6SLW]H GLHVHV 6FKZDUPHV JLQJHQ GUHL )UDXHQ ]ZHL YRQ LKQHQ ZDUHQ DXHURUGHQWOLFK VFK|Q XQG HV ZDU QLFKW ]X YHUZXQGHUQ GD LKQHQVRYLHOH9HUHKUHUQDFKIROJWHQ$EHUVRZRKOGLH9HUHKUHU DOV DXFK GLH )UDXHQ DOOH KDWWHQ HWZDV %HVRQGHUHV DQ VLFK HWZDV ZDV YRQ GHP EULJHQ XP GLH 0XVLN YHUVDPPHOWHQ 3XEOLNXP VWDUN DEVWDFK )DVW DOOH $QZHVHQGHQ EHPHUNWHQ GLH $QN|PPOLQJH VRIRUW EHPKWHQ VLFK DEHU JURHQWHLOV VR ]X WXQDOVREVLHVLHJDUQLFKWVlKHQXQGQXUHLQLJHMXQJH0lQQHU OlFKHOWHQ XQG WDXVFKWHQ PLWHLQDQGHU KDOEODXWH %HPHUNXQJHQ DXV 6LH ]X EHUVHKHQ ZDU JDQ] XQP|JOLFK VLH PDFKWHQ VLFK QXU ]X EHPHUNEDU UHGHWHQ ODXW XQG ODFKWHQ 0DQ NRQQWH DQQHKPHQ GD PDQFKH XQWHU LKQHQ HLQHQ ]LHPOLFKHQ 5DXVFK KDWWHQ REJOHLFK PHKUHUH lXHUOLFK VWXW]HUKDIW XQG HOHJDQW JHNOHLGHWZDUHQDEHUHVZDUHQGDUXQWHUDXFK /HXWHYRQUHFKW VRQGHUEDUHP $XVVHKHQ LQ VRQGHUEDUHU .OHLGXQJ XQG PLW VRQGHUEDU JHU|WHWHQ *HVLFKWHUQ DXFK HLQLJH 2IIL]LHUH ZDUHQ GDEHL PDQFKH ZDUHQ EHUHLWV lOWHU HWOLFKH ZDUHQ EHKlELJ JHNOHLGHW LQ EHTXHPHQ HOHJDQW JHDUEHLWHWHQ $Q]JHQ XQG WUXJHQ NRVWEDUH 5LQJH XQG 0DQVFKHWWHQNQ|SIH SUlFKWLJH SHFKVFKZDU]H3HUFNHQXQGVFKZDU]H%DFNHQElUWHXQGJDEHQ LKUHQ *HVLFKWHUQ HLQHQ EHVRQGHUV YRUQHKPHQ ZHQQ DXFK HWZDVYHUGURVVHQHQ$XVGUXFNHLQH0HQVFKHQVRUWHGLHPDQLQ GHU *HVHOOVFKDIW ZLH GLH 3HVW ]X PHLGHQ SIOHJW 8QWHU GHQ 6RPPHUIULVFKHQ LQ XQVHUHQ 9RURUWHQ EHILQGHQ VLFK QDWUOLFK DXFK VROFKH GLH VLFK GXUFK EHVRQGHUV JXWHQ 7RQ DXV]HLFKQHQ XQG VLFK HLQHV YRU]JOLFKHQ 5XIHV HUIUHXHQ DEHU DXFK GHU YRUVLFKWLJVWH0HQVFKNDQQVLFKQLFKWLQMHGHP$XJHQEOLFNYRU HLQHP=LHJHOVWHLQKWHQGHUYRP1DFKEDUKDXVKHUDEIlOOW(LQ VROFKHU =LHJHOVWHLQ ZDU MHW]W LP %HJULII DXI GDV ZRKODQVWlQGLJH 3XEOLNXP KHUDE]XIDOOHQ GDV VLFK EHL GHU 0XVLNYHUVDPPHOWKDWWH
8P YRQ GHP 9DX[KDOO DXI GHQ 3ODW] ]X JHODQJHQ DXI GHP VLFK GDV 2UFKHVWHU EHIDQG PXWH PDQ GUHL 6WXIHQ KLQDEVWHLJHQ 'LFKW EHL GLHVHQ 6WXIHQ KDWWH GHU 6FKZDUP KDOWJHPDFKW VLH WUDXWHQ VLFK QLFKW KLQDE]XVWHLJHQ DEHU HLQH GHU )UDXHQ VFKULWW YRUZlUWV YRQ LKUHU 6XLWH ZDJWHQ QXU ]ZHL 0lQQHU LKU ]X IROJHQ 'HU HLQH ZDU HLQ +HUU LQ PLWWOHUHQ -DKUHQ PLW UHFKW EHVFKHLGHQHU 0LHQH XQG HLQHP LQ MHGHU +LQVLFKW DQVWlQGLJHQ bXHUHQ DEHU HU PDFKWH GHQ (LQGUXFN HLQHV ULFKWLJHQ (LQ]HOJlQJHUV GDV KHLW HLQHV GHU /HXWH GLH QLH MHPDQG NHQQHQ XQG YRQ QLHPDQG JHNDQQW ZHUGHQ 'HU DQGHUH GHU VLFK YRQ GHU 'DPH QLFKW JHWUHQQW KDWWH WUXJ HLQH VHKUVFKlELJH.OHLGXQJXQGVDKK|FKVW]ZHLGHXWLJDXV$XHU GLHVHQ EHLGHQ IROJWH GHU H[]HQWULVFKHQ 'DPH QLHPDQG ZHLWHU DEHUZlKUHQGGHV+LQXQWHUVWHLJHQVEOLFNWHVLHJDUQLFKW]XUFN DOV ZlUH HV LKU Y|OOLJ JOHLFKJOWLJ RE LKU MHPDQG IROJWH RGHU QLFKW6LHODFKWHXQGUHGHWHODXWZLHYRUKHU JHNOHLGHW ZDU VLH PLW YLHO *HVFKPDFN XQG UHLFK DEHU HWZDV OX[XUL|VHU DOV HV VFKLFNOLFK JHZHVHQ Zl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lJOLFK PLW LKU
]XVDPPHQJHZHVHQ ZDU KDWWH DXI LKQ HLQH VFKUHFNOLFKH :LUNXQJ DXVJHEW VR GD GHU )UVW PDQFKPDO VRJDU GLH (ULQQHUXQJ DQ GLHVH QRFK QLFKW ZHLW ]XUFNOLHJHQGH =HLW ]X YHUVFKHXFKHQ VXFKWH ,Q GHP *HVLFKW GLHVHU )UDX ODJ IU LKQ VWHWV HWZDV ZDV LKP 4XDOHQ EHUHLWHWH LQ GHP *HVSUlFK PLW 5RJRVKLQ KDWWH GHU )UVW GLHVHV *HIKO DOV HLQH *HIKO JUHQ]HQORVHQ 0LWOHLGV EH]HLFKQHW XQG GDV ZDU GLH :DKUKHLW JHZHVHQGLHVHV*HVLFKW KDWWH VFKRQ EHLP $QEOLFN GHV %LOGHV LQ VHLQHP +HU]HQ HLQ 0LWOHLG HUZHFNW GDV ]XP HLJHQHQ /HLG JHZRUGHQ ZDU GLHVHV *HIKO GHV 0LWOHLGV XQG VRJDU GHV HLJHQHQ /HLGV XP GLHVHV :HVHQ KDWWH LKQ QLH YHUODVVHQ XQG ZDULKPDXFKMHW]WJHJHQZlUWLJ1HLQHVZDUMHW]WVRJDUQRFK VWlUNHU $EHU GHU $XVGUXFN GHQ HU 5RJRVKLQ JHJHQEHU JHEUDXFKW KDWWH KDWWH GHQ )UVWHQ DXI GLH 'DXHU QLFKW EHIULHGLJW HUVW MHW]W LQ GHP $XJHQEOLFN ZR VLH SO|W]OLFK YRU VHLQHQ $XJHQ HUVFKLHQ YHUVWDQG HU YLHOOHLFKW LQIROJH GHU XQPLWWHOEDUHQ$QVFKDXXQJLQZLHIHUQGDVZDVHU]X5RJRVKLQ JHVDJW KDWWH PDQJHOKDIW JHZHVHQ ZDU (U KDWWH GDPDOV QLFKW GLH:RUWHJHIXQGHQXPGDV(QWVHW]HQDXV]XGUFNHQ±MDZRKO GDV (QWVHW]HQ -HW]W LQ GLHVHP $XJHQEOLFN HPSIDQG HU HV JDQ]HUZDU DXI*UXQG DOOVHLQHU HLJHQHQ %HREDFKWXQJHQPLW Y|OOLJHU 6LFKHUKHLW GDYRQ EHU]HXJW GD GLHVH )UDX LUUVLQQLJ ZDU :HQQ PDQ HLQH )UDX EHU DOOHV LQ GHU :HOW OLHEW RGHU HLQHQ9RUJHVFKPDFNYRQGHU0|JOLFKNHLWHLQHUVROFKHQ/LHEH YHUVSUW XQG QXQ DXI HLQPDO GLHVH )UDX DQ GHU .HWWH HUEOLFNW KLQWHU HLQHP (LVHQJLWWHU YRQ GHP 6WRFN GHV $XIVHKHUV EHGURKW GDQQ PDJ GLH (PSILQGXQJ HLQLJHUPDHQ GHUMHQLJHQ lKQOLFKVHLQGLHMHW]WGHU)UVWGXUFKPDFKWH ª:DV LVW ,KQHQ"© IUDJWH $JODMD KDVWLJ LQGHP VLH VLFK QDFK LKPXPZDQGWHXQGQDLYVHLQHQ$UPEHUKUWH (U GUHKWH GHQ .RSI QDFK LKU KLQ VDK VLH DQ EOLFNWH LQ LKUH VFKZDU]HQ$XJHQGLHMHW]WLQHLQHULKPXQYHUVWlQGOLFKH:HLVH IXQNHOWHQ XQG PDFKWH GHQ 9HUVXFK LKU ]X]XOlFKHOQ DEHU SO|W]OLFKDOVKlWWHHUVLHVRIRUWZLHGHUYHUJHVVHQZDQGWHHUGLH
$XJHQ ZLHGHU QDFK UHFKWV XQG YHUIROJWH GLH LKQ IHVVHOQGH (UVFKHLQXQJZHLWHU1DVWDVMD)LOLSSRZQDJLQJVRHEHQGLFKWDQ GHQ6WKOHQGHUMXQJHQ'DPHQYRUEHU-HZJHQLM3DZORZLWVFK IXKU IRUW $OH[DQGUD ,ZDQRZQD HWZDV ZRKO VHKU .RPLVFKHV XQG ,QWHUHVVDQWHV ]X HU]lKOHQ XQG HU VSUDFK ODXW XQG OHEKDIW 'HU)UVWHULQQHUWHVLFKVSlWHUGD$JODMDDXIHLQPDOKDOEODXW JHVDJWKDWWHª:DVIUHLQH© 'LHVH :RUWH KDWWHQ QRFK NHLQHQ EHVWLPPWHQ 6LQQ XQG VLH VSUDFK GHQ 6DW] QLFKW ]X (QGH VLH EHKHUUVFKWH VLFK VRIRUW ZLHGHU XQG IJWH QLFKWV ZHLWHU KLQ]X DEHU DXFK GDV *HVDJWH JHQJWH VFKRQ 1DVWDVMD )LOLSSRZQD GLH DQVFKHLQHQG RKQH MHPDQG EHVRQGHUV ]X EHDFKWHQ YRUEHLJHJDQJHQ ZDU ZDQGWH VLFK SO|W]OLFK ]X GHU -HSDQWVFKLQVFKHQ *HVHOOVFKDIW XP XQG VFKLHQHUVWMHW]W-HZJHQLM3DZORZLWVFK]XEHPHUNHQ ª$K'D LVWHUMD©ULHIVLHVWHKHQEOHLEHQGª(LQPDONDQQPDQLKQGXUFK QRFKVRYLHOH%RWHQQLFKWDXVILQGLJPDFKHQXQGHLQDQGHUPDO VLW]WHUJHUDGHGDZRPDQLKQQLFKWYHUPXWHW,FKGDFKWHMD GXZlUHVWGRUWEHLGHLQHP2QNHO© -HZJHQLM 3DZORZLWVFK ZXUGH GXQNHOURW XQG EOLFNWH VLH ZWHQGDQZDQGWHVLFKDEHUVFKQHOOZLHGHUYRQLKUDEª:LH" :HLWGXHVHWZDQRFKQLFKW".DQQPDQVLFKGDVYRUVWHOOHQHU ZHLHVQRFKQLFKW(UKDWVLFKHUVFKRVVHQ+HXWHIUKKDWVLFK GHLQ 2QNHO HUVFKRVVHQ 0LU ZXUGH HV YRUKLQ XP ]ZHL 8KU JHVDJW DEHU MHW]W ZHL HV VFKRQ GLH KDOEH 6WDGW GUHLKXQGHUW IQI]LJWDXVHQG5XEHO6WDDWVJHOGHUIHKOHQZLHHVKHLWDQGHUH VDJHQ IQIKXQGHUWWDXVHQG 8QG LFK VSHNXOLHUWH LPPHU GDUDXI GDHUGLUQRFKHLQH JURH(UEVFKDIWKLQWHUODVVHQZUGHDEHU HU KDW DOOHV YHUMXEHOW -D MD GHU DOWH 0DQQ IKUWH HLQ DXVVFKZHLIHQGHV/HEHQ1XQOHEZRKOERQQHFKDQFH$OVR GXIlKUVWZLUNOLFKQLFKWKLQ"'DKDVWGXMDQRFKJOFNOLFK]XU UHFKWHQ =HLW GHQ $EVFKLHG JHQRPPHQ GX 6FKODXNRSI $FK 8QVLQQGXKDVWHVMDJHZXWKDVWHVYRUKHUJHZXWYLHOOHLFKW ZXWHVWGXHVVFKRQJHVWHUQ© 2EJOHLFK KLQWHU GLHVHU GUHLVWHQ =XGULQJOLFKNHLW XQG GHU
|IIHQWOLFKHQ %HKDXSWXQJ HLQHU JDU QLFKW H[LVWLHUHQGHQ %HNDQQWVFKDIWXQG,QWLPLWlWXQEHGLQJWHLQHEHVRQGHUH$EVLFKW VWHFNWH XQG GDUDQ MHW]W NHLQ =ZHLIHO PHKU P|JOLFK ZDU VR KDWWH -HZJHQLM 3DZORZLWVFK GRFK ]XQlFKVW QRFK JHJODXEW HU N|QQH GDYRQNRPPHQ ZHQQ HU GLH %HOHLGLJHULQ JDU QLFKW EHDFKWH $EHU 1DVWDVMD )LOLSSRZQDV :RUWH WUDIHQ LKQ ZLH HLQ 'RQQHUVFKODJDOVHUYRQGHP7RGVHLQHV2QNHOVK|UWHZXUGH HU NUHLGHEOHLFK XQG ZDQGWH VLFK ]X GHU h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|FKVWHQ *UDGH HPS|UWª'DPWHPDQHLQIDFKHLQH5HLWSHLWVFKHQHKPHQDXI DQGHUH$UWZLUGPDQPLWGLHVHP*HVFK|SIQLFKWIHUWLJ©VDJWH HU ]LHPOLFK ODXW :LH HV VFKLHQ ZDU HU DXFK IUKHU VFKRQ -HZJHQLM3DZORZLWVFKV9HUWUDXWHUJHZHVHQ 1DVWDVMD)LOLSSRZQDZDQGWHVLFKDXJHQEOLFNOLFK]XLKPXP ,KUH $XJHQ IXQNHOWHQ VLH VWU]WH DXI HLQHQ LKU JDQ] XQEHNDQQWHQ MXQJHQ 0DQQ ORV GHU ]ZHL 6FKULWWH YRQ LKU HQWIHUQW VWDQG XQG HLQ GQQHV JHIORFKWHQHV 6SD]LHUVW|FNFKHQ LQGHU+DQGKDWWHHQWULHVLKPXQGYHUVHW]WHLKUHP%HOHLGLJHU GDPLWDXVYROOHU.UDIWHLQHQ6FKODJTXHULQV*HVLFKW$OOGLHV YROO]RJ VLFK LQ HLQHU 6HNXQGH 'HU 2IIL]LHU YRU :XW DXHU VLFKVWU]WHVLFKDXIVLHLKU*HIROJHKDWWH1DVWDVMD)LOLSSRZQD QLFKW PHKU XP VLFK GHU DQVWlQGLJH +HUU LQ PLWWOHUHQ -DKUHQ KDWWH VLFK EHUHLWV DXV GHP 6WDXEH JHPDFKW XQG GHU DQJHKHLWHUWH +HUU VWDQG HLQ ZHQLJ DEVHLWV XQG ODFKWH DXV /HLEHVNUlIWHQ (LQH 0LQXWH GDUDXI ZlUH QDWUOLFK GLH 3ROL]HL
HUVFKLHQHQ DEHU ZlKUHQG GLHVHU 0LQXWH ZlUH HV 1DVWDVMD )LOLSSRZQDVFKOLPPHUJDQJHQZHQQLKUQLFKWHLQHXQHUZDUWHWH +LOIH JHNRPPHQ ZlUH GHU )UVW GHU HEHQIDOOV ]ZHL 6FKULWWH HQWIHUQWVWDQGYHUPRFKWHQRFKJHUDGHGHQ2IIL]LHUYRQKLQWHQ DQGHQ$UPHQ]XIDVVHQ6HLQHQ$UPORVUHLHQGYHUVHW]WHLKP GHU2IIL]LHUHLQHQVWDUNHQ6WRJHJHQGLH%UXVWGHU)UVWIORJ HWZD GUHL 6FKULWWH ]XUFN XQG ILHO DXI HLQHQ 6WXKO $EHU QXQ HUVFKLHQHQ EHL 1DVWDVMD )LOLSSRZQD EHUHLWV ]ZHL %HVFKW]HU 9RU GHP KHUDQVWUPHQGHQ 2IIL]LHU VWDQG GHU %R[HU GHU 9HUIDVVHU MHQHV GHP /HVHU EHNDQQWHQ 6FKPlKDUWLNHOV XQG DNWLYHV 0LWJOLHG GHU IUKHUHQ 5RJRVKLQVFKHQ %DQGH ª.HOOHU /HXWQDQW D'© VWHOOWH HU VLFK DIIHNWLHUW IRUVFKHU :HLVH YRU ª:HQQ,KQHQHLQ)DXVWNDPSIJHIlOOLJLVW+DXSWPDQQVRVWHKH LFK DOV 9HUWUHWHU GHV VFKZDFKHQ *HVFKOHFKWV ]X ,KUHQ 'LHQVWHQ LFK YHUVWHKH PLFK YRU]JOLFK DXI GLH HQJOLVFKH %R[NXQVW1HKPHQ6LHHVQLFKWEHO+DXSWPDQQLFKEHGDXUH GLH ,KQHQ DQJHWDQH EOXWLJH %HOHLGLJXQJ DEHU LFK NDQQ QLFKW ]XJHEHQ GD MHPDQG JHJHQ HLQH )UDX YRU GHQ $XJHQ GHV 3XEOLNXPV YRP )DXVWUHFKW *HEUDXFK PDFKW :HQQ 6LH DEHU ZLH HV VLFK IU HLQHQ DQVWlQGLJHQ 0DQQ VFKLFNW GLH 6DFKH LQ DQGHUHU )RUP ]X HUOHGLJHQ ZQVFKHQ VR 6LH ZHUGHQ PLFK VHOEVWYHUVWlQGOLFKYHUVWHKHQ+DXSWPDQQ© $EHU GHU +DXSWPDQQ ZDU VFKRQ ]XU %HVLQQXQJ JHNRPPHQ XQG K|UWH QLFKW PHKU DXI LKQ KLQ ,Q GLHVHP $XJHQEOLFN WDXFKWH 5RJRVKLQ DXV GHU 0HQJH DXI UHLFKWH 1DVWDVMD )LOLSSRZQD VFKQHOO GHQ $UP XQG ]RJ VLH KLQWHU VLFK KHU 5RJRVKLQVHOEVWVFKLHQIXUFKWEDUDXIJHUHJW]XVHLQHUZDUEOD XQG]LWWHUWH:lKUHQGHU1DVWDVMD)LOLSSRZQD ZHJIKUWH IDQG HUQRFK=HLWGHP2IIL]LHUK|KQLVFKLQV*HVLFKW]XODFKHQXQG LKPPLWGHU0LHQHHLQHVWULXPSKLHUHQGHQ.UlPHUV]X]XUXIHQ ª+H'DKDVWGX¶VDEEHNRPPHQ'LH JDQ]H9LVDJHYROO%OXW 7HXIHODXFK© 'HU2IIL]LHUGHUVHLQH)DVVXQJZLHGHUHUODQJWKDWWHXQGVLFK GDUEHU NODUJHZRUGHQ ZDU DQ ZHQ HU VLFK ]X KDOWHQ KDWWH
ZDQGWH VLFK GDV *HVLFKW PLW GHP 7DVFKHQWXFK YHUGHFNHQG K|IOLFK DQ GHQ )UVWHQ GHU EHUHLWV YRP 6WXKO ZLHGHU DXIJHVWDQGHQ ZDU ª6LH VLQG )UVW 0\VFKNLQ GHP LFK GDV 9HUJQJHQ KDWWH YRUJHVWHOOW ]X ZHUGHQ"© ª6LH LVW LUUVLQQLJ *HLVWHVNUDQN ,FK YHUVLFKHUH HV ,KQHQ© DQWZRUWHWH GHU )UVW PLWEHEHQGHU6WLPPHXQGVWUHFNWHLKPDXVLUJHQGHLQHP*UXQG VHLQH ]LWWHUQGHQ +lQGH HQWJHJHQ ª,FK NDQQ PLFK QDWUOLFK VROFKHU .HQQWQLVVH QLFKW UKPHQ DEHU LFK PX ,KUHQ 1DPHQ ZLVVHQ© (U QLFNWH LKP ]X XQG JLQJ ZHJ 'LH 3ROL]HL HUVFKLHQ JHQDX IQI 6HNXQGHQ QDFKGHP GLH OHW]WHQ EHWHLOLJWHQ 3HUVRQHQ YHUVFKZXQGHQ ZDUHQ hEULJHQV KDWWH GHU JDQ]H 6NDQGDO QLFKW OlQJHU DOV ]ZHL 0LQXWHQ JHGDXHUW (LQLJH DXV GHP 3XEOLNXP KDWWHQ VLFK YRQ LKUHQ 6WKOHQ HUKREHQ XQG ZDUHQ ZHJJHJDQJHQ DQGHUH KDWWHQ VLFK QXU DXI HLQHQ DQGHUQ 3ODW] JHVHW]W ZLHGHU DQGHUH IUHXWHQ VLFK JHZDOWLJ EHU GLH 6NDQGDODIIlUH DQGHUH VFKOLHOLFK EHJDQQHQ HLIULJ XQG PLW OHEKDIWHP ,QWHUHVVH GDUEHU ]X VSUHFKHQ 'LH 0XVLNNDSHOOH ILQJ ZLHGHU DQ ]X VSLHOHQ 'HU )UVW IROJWH GHQ -HSDQWVFKLQV QDFK :HQQ HU GDUDXI YHUIDOOHQ ZlUH RGHU =HLW JHKDEW KlWWH QDFK OLQNV ]X EOLFNHQ DOV HU LQIROJH GHV 6WRHV DXI GHQ 6WXKO JHIDOOHQ ZDU VR KlWWH HU ]ZDQ]LJ 6FKULWWH HQWIHUQW $JODMD HUEOLFNW GLH VWHKHQJHEOLHEHQ ZDU XP GLH 6NDQGDOV]HQH PLW DQ]XVHKHQ XQG QLFKW DXI GLH 5XIH LKUHU 0XWWHU XQG LKUHU 6FKZHVWHUQ K|UWH GLH VFKRQ ZHLWHUJHJDQJHQ ZDUHQ )UVW 6FKWVFK GHU ]X LKU JHODXIHQ NDP EHUUHGHWH VLH HQGOLFK VFKQHOOHU ZHJ]XJHKHQ /LVDZHWD 3URNRIMHZQD HULQQHUWH VLFK VSlWHU GD $JODMD ]X LKQHQ LQ HLQHU VROFKHQ $XIUHJXQJ ]XUFNNDPGDVLHLKUH5XIHZRKONDXPJHK|UWKDEHQNRQQWH $EHU]ZHL0LQXWHQGDUDXIDOVVLHHEHQLQGHQ3DUNHLQJHWUHWHQ ZDUHQ VDJWH $JODMD LQ LKUHP JHZ|KQOLFKHQ JOHLFKJOWLJHQ ODXQLVFKHQ 7RQ ª,FK ZROOWH QXU VHKHQ ZLH GLH .RP|GLH HQGHWH©
,,, 'HU 9RUIDOO LQ GHP 9DX[KDOO KDWWH GLH 0XWWHU XQG GLH 7|FKWHUDUJHUVFKUHFNW,QLKUHU8QUXKHXQG$XIUHJXQJOHJWHQ /LVDZHWD 3URNRIMHZQD XQG GLH 7|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ªHQWODUYW© XQG ªVHLQHU %H]LHKXQJHQ ]X GLHVHU .UHDWXU LQ DOOHU )RUP EHUIKUW© 6R GDFKWHQ /LVDZHWD 3URNRIMHZQDXQGVRJDULKUHEHLGHQlOWHVWHQ7|FKWHU$EHUGHU *HZLQQ DXV GLHVHU 6FKOXIROJHUXQJ EHVWDQG OHGLJOLFK GDULQ GD GLH 5lWVHO VLFK QRFK PHKU KlXIWHQ 'LH EHLGHQ lOWHVWHQ 0lGFKHQZDUHQ]ZDULPVWLOOHQHWZDVXQJHKDOWHQGDUEHUGD LKUH 0DPD VLFK VR EHUPlLJ JHlQJVWLJW KDWWH XQG VR RIIHQVLFKWOLFK GDYRQJHODXIHQ ZDU DEHU VLH PRFKWHQ VLH LQ GHU HUVWHQ =HLW GHV :LUUZDUUV QLFKW PLW )UDJHQ EHOlVWLJHQ $XHUGHP KDWWHQ VLH DXV LUJHQGHLQHP *UXQG GHQ (LQGUXFN GD LKUH 6FKZHVWHU $JODMD YLHOOHLFKW YRQ GLHVHU 6DFKH PHKU ZLVVH DOV VLH EHLGH XQG GLH 0DPD )UVW 6FKWVFK PDFKWH HEHQIDOOV HLQ *HVLFKW ILQVWHU ZLH GLH 1DFKW XQG ZDU HEHQIDOOV VHKU QDFKGHQNOLFK /LVDZHWD 3URNRIMHZQD VSUDFK PLW LKP DXI GHP JDQ]HQ :HJ NHLQ :RUW DEHU HU VFKLHQ GDV JDU QLFKW ]X EHDFKWHQ $GHODLGD YHUVXFKWH LKQ ]X IUDJHQ ª9RQ ZDV IU HLQHP 2QNHO ZDU GHQQ GD HEHQ GLH 5HGH XQG ZDV LVW GHQQ HLJHQWOLFK LQ 3HWHUVEXUJ SDVVLHUW"© $EHU HU JDE LKU PLW VHKU VDXUHU 0LHQH PXUPHOQG HLQH UHFKW XQEHVWLPPWH $QWZRUW YRQ LUJHQGZHOFKHQ(UNXQGLJXQJHQGLHHUDQVWHOOHQZROOHXQGGDV
VHL QDWUOLFK DOOHV 8QVLQQ ª'DUDQ LVW NHLQ =ZHLIHO© DQWZRUWHWH $GHODLGD XQG IUDJWH QLFKW ZHLWHU $JODMD GDJHJHQ ZDU DXIIDOOHQG UXKLJ XQG EHPHUNWH XQWHUZHJV QXU VLH OLHIHQ GRFKJDU]XVFKQHOO(LQPDOZDQGWHVLHVLFKXPXQGHUEOLFNWH GHQ)UVWHQGHULKQHQQDFKHLOWH$OVVLHZDKUQDKPZLHHUVLFK DQVWUHQJWH XP VLH HLQ]XKROHQ OlFKHOWH VLH VS|WWLVFK XQG VDK VLFK VHLWGHP QLFKW PHKU QDFK LKP XP (QGOLFK DOV VLH VFKRQ JDQ] QDKH EHL LKUHP /DQGKDXV ZDUHQ NDP LKQHQ ,ZDQ )MRGRURZLWVFK HQWJHJHQ GHU VRHEHQ DXV 3HWHUVEXUJ ]XUFNJHNRPPHQ ZDU (U HUNXQGLJWH VLFK VRJOHLFK EHL GHQ HUVWHQ :RUWHQ QDFK -HZJHQLM 3DZORZLWVFK $EHU VHLQH *DWWLQ JLQJ PLW GURKHQGHU 0LHQH DQ LKP YRUEHL RKQH LKP ]X DQWZRUWHQ XQG RKQH LKQ DXFK QXU DQ]XVHKHQ $Q GHQ $XJHQ VHLQHU 7|FKWHU XQG GHV )UVWHQ 6FKWVFK HUNDQQWH HU VRJOHLFK GDHVLQVHLQHU)DPLOLHJHZLWWHUWH$EHUDXFKRKQHGDVSUlJWH VLFK DXI VHLQHP HLJHQHQ *HVLFKW HLQH XQJHZ|KQOLFKH 8QUXKH DXV ± (U IDWH GHQ )UVWHQ 6FKWVFK VRJOHLFK XQWHU KLHOW LKQ DP +DXVHLQJDQJ ]XUFN XQG ZHFKVHOWH IDVW IOVWHUQG HLQLJH :RUWH PLW LKP $Q GHQ DXIJHUHJWHQ 0LHQHQ EHLGHU DOV VLH GDQQ LQ GLH 9HUDQGD NDPHQ XQG VLFK ZHLWHU ]X /LVDZHWD 3URNRIMHZQDEHJDEHQNRQQWHPDQPHUNHQGDVLHEHLGHHLQH JDQ] XQJHZ|KQOLFKH 1DFKULFKW HUKDOWHQ KDWWHQ $OOPlKOLFK IDQGHQ VLFK DOOH REHQ EHL /LVDZHWD 3URNRIMHZQD ]XVDPPHQ XQG LQ GHU 9HUDQGD EOLHE VFKOLHOLFK QXU GHU )UVW ]XUFN (U VDLQHLQHU(FNHDOVZDUWHWHHUDXIHWZDVRKQHMHGRFKVHOEVW ]X ZLVVHQ ZDUXP DQJHVLFKWV GHU LP +DXVH KHUUVFKHQGHQ 8QUXKH ZHJ]XJHKHQ GDV NDP LKP JDU QLFKW LQ GHQ 6LQQ HV VFKLHQ DOV KDEH HU GLH JDQ]H :HOW YHUJHVVHQ XQG VHL EHUHLW DXFK ]ZHL -DKUH KLQWHUHLQDQGHU GD ]X VLW]HQ ZR PDQ LKQ KLQVHW]HQ ZUGH 9RQ REHQ K|UWH HU PLWXQWHU HLQ]HOQH /DXWH HLQHV DXIJHUHJWHQ *HVSUlFKV (U KlWWH VHOEVW QLFKW VDJHQ N|QQHQ ZLH ODQJH HU GD VFKRQ JHVHVVHQ KDWWH (V ZDU VSlW JHZRUGHQ XQG VFKRQ JDQ] GXQNHO $XI HLQPDO NDP $JODMD QDFK GHU 9HUDQGD KHUDXV VLH ZDU lXHUOLFK UXKLJ ZHQQ DXFK
HWZDV EOD $OV VLH GHQ )UVWHQ HUEOLFNWH GHQ VLH KLHU LQ GHU (FNH DXI HLQHP 6WXKO ]X WUHIIHQ DQVFKHLQHQG QLFKW HUZDUWHW KDWWHOlFKHOWHVLHZLHHUVWDXQW ª:DVPDFKHQ6LHGHQQKLHU"© IUDJWHVLHDQLKQKHUDQWUHWHQG 'HU )UVW PXUPHOWH YHUOHJHQ HLQH $QWZRUW XQG VSUDQJ YRP 6WXKO DXI DEHU $JODMD VHW]WH VLFK VRJOHLFK QHEHQ LKQ XQG VR OLHDXFKHUVLFKZLHGHUQLHGHU6LHEOLFNWHLKQDXIPHUNVDPDQ GDQQVDKVLHZLH JHGDQNHQORVGXUFKGDV )HQVWHU GDQQ ZLHGHU QDFK LKP KLQ ¾9LHOOHLFKW ZLOO VLH VLFK EHU PLFK OXVWLJ PDFKHQ½ GDFKWH GHU )UVW ¾DEHU QHLQ GDQQ KlWWH VLH HV MD VFKRQJHWDQ½ª9LHOOHLFKWP|FKWHQ6LH7HHWULQNHQGDQQZHUGH LFK ZHOFKHQ EULQJHQ ODVVHQ© VDJWH VLH QDFK HLQLJHP 6FKZHLJHQ ª1±QHLQ ,FK ZHL QLFKW © ª$EHU ZLH NDQQ PDQGHQQVRHWZDVQLFKWZLVVHQ"$FKMDK|UHQ6LHZHQQ6LH MHPDQG]XP'XHOOIRUGHUWHZDVZUGHQ6LHGDQQPDFKHQ",FK ZROOWH6LHVFKRQYRUKLQGDQDFKIUDJHQ©ª$EHUZHUVROOWH HVIRUGHUWPLFKMDQLHPDQG]XP'XHOO© ª1XQDEHUZHQQ6LH JHIRUGHUW ZUGHQ" :UGHQ 6LH JURH $QJVW KDEHQ"© ª,FK JODXEHLFKZUGHPLFKVHKUIUFKWHQ©ª,P(UQVW"$OVRVLQG 6LH IHLJH"© ª1±QHLQ GDV YLHOOHLFKW QLFKW )HLJH LVW GHUMHQLJH GHU VLFK IUFKWHW XQG GDYRQOlXIW DEHU ZHU VLFK IUFKWHW XQG QLFKW GDYRQOlXIW GHU EUDXFKW QRFK QLFKW IHLJH ]X VHLQ© HUZLGHUWH GHU )UVW QDFK NXU]HP 1DFKGHQNHQ OlFKHOQG ª8QG 6LHZUGHQQLFKWZHJODXIHQ"©ª9LHOOHLFKWZUGHLFKGDVQLFKW WXQ©DQWZRUWHWHHUVFKOLHOLFKDXIODFKHQGDXI$JODMDV)UDJHQ ª,FK ELQ ]ZDU HLQ :HLE DEHU LFK ZUGH XQWHU NHLQHQ 8PVWlQGHQ ZHJODXIHQ© EHPHUNWH VLH HPSILQGOLFK ª$EHU 6LH PDFKHQ VLFK EHU PLFK OXVWLJ XQG UHGHQ QDFK ,KUHU *HZRKQKHLW ZXQGHUOLFKHV =HXJ XP VLFK LQWHUHVVDQW ]X PDFKHQ 6DJHQ 6LH PDO GLH 'XHOODQWHQ VFKLHHQ MD ZRKO JHZ|KQOLFKDXI]Z|OI6FKULWWHPDQFKHDXFKDXI]HKQ6FKULWWH DOVR ZLUG PDQ VLFKHU HUVFKRVVHQ RGHU YHUZXQGHW"© ª%HLP 'XHOOIlOOWZRKOVHOWHQMHPDQG©ª6HOWHQ"3XVFKNLQLVWGRFKLP 'XHOOHUVFKRVVHQ©ª'DVZDUYLHOOHLFKWHLQ=XIDOO©ª*DQ]XQG
JDU NHLQ =XIDOO HV ZDU HLQ 'XHOO DXI /HEHQ XQG 7RG XQG GD ZXUGHHUHUVFKRVVHQ© ª'LH.XJHOWUDI LKQ VR ZHLW XQWHQ GD PDQDQQHKPHQPX'DQWHVKDEHDXIHLQHK|KHUH.|USHUVWHOOH JH]LHOW DXI GLH %UXVW RGHU DXI GHQ .RSI 6R ZHLW QDFK XQWHQ ]LHOW QLHPDQG VRPLW KDW GLH .XJHO 3XVFKNLQ DOOHU :DKUVFKHLQOLFKNHLW QDFK ]XIlOOLJ JHWURIIHQ GXUFK HLQHQ )HKOVFKX 'DV LVW PLU YRQ NRPSHWHQWHQ /HXWHQ JHVDJW ZRUGHQ©ª$EHUPLUKDWHLQ6ROGDWPLWGHPLFKHLQPDOVSUDFK JHVDJW VLH VHLHQ ZHQQ VLH VLFK LQ 6FKW]HQVFKZlUPH DXIO|VWHQ GXUFK GDV 5HJOHPHQW DXVGUFNOLFK DQJHZLHVHQ DXI GLH0LWWHGHV0HQVFKHQ]X]LHOHQ VR ODXWHW GHU $XVGUXFN EHL LKQHQ ¾DXI GLH 0LWWH GHV 0HQVFKHQ½ $OVR GLH ZHUGHQ DQJHZLHVHQQLFKWQDFKGHU%UXVWRGHUQDFKGHP.RSIVRQGHUQ DEVLFKWOLFKQDFKGHU0LWWHGHV.|USHUV]XVFKLHHQ,FKIUDJWH VSlWHU HLQHQ 2IIL]LHU GDQDFK XQG GHU VDJWH PLU GD HV VLFK JHQDXVRYHUKDOWH©ª'DVLVWJHZLVRDQJHRUGQHWZHLOGDDXI ZHLWH (QWIHUQXQJ JHVFKRVVHQ ZLUG© ª.|QQHQ 6LH VFKLHHQ"© ª,FK KDEH QRFK QLH JHVFKRVVHQ© ª.|QQHQ 6LH ZLUNOLFK QLFKW HLQPDO HLQH 3LVWROH ODGHQ"© ª1HLQ GDV NDQQ LFK QLFKW 'DV KHLW LFK ZHL ZLH HV JHPDFKW ZLUG DEHU LFK KDEH QRFK QLH VHOEVW HLQH JHODGHQ© ª1XQ GDQQ N|QQHQ 6LH HV DXFK QLFKW GHQQGD]XJHK|UWSUDNWLVFKH(UIDKUXQJ+|UHQ6LHPDO]XXQG SUlJHQ 6LH HV VLFK JXW HLQ HUVWHQV NDXIHQ 6LH VLFK JXWHV 3LVWROHQSXOYHU QLFKW IHXFKWHV HV GDUI QLFKW IHXFKW VHLQ VDJH LFK HV PX JDQ] WURFNHQ VHLQ UHFKW IHLQHV VROFKHV PVVHQ 6LH JOHLFK IRUGHUQ QLFKW VROFKHV PLW GHP PDQ DXV .DQRQHQ VFKLHW 'LH .XJHOQ JLHW PDQ VLFK LUJHQGZLH VHOEVW +DEHQ 6LH 3LVWROHQ"© ª1HLQ LFK EUDXFKH DXFK NHLQH© YHUVHW]WH GHU )UVW ODFKHQG ª$FK GXPPHV =HXJ .DXIHQ 6LH VLFK XQWHU DOOHQ 8PVWlQGHQ HLQH HLQH JXWH IUDQ]|VLVFKH RGHU HQJOLVFKH GDVVLQGGLHEHVWHQVDJHLFK ,KQHQ 'DQQQHKPHQ6LH3XOYHU HWZD HLQHQ )LQJHUKXW YROO RGHU YLHOOHLFKW ]ZHL XQG VFKWWHQ 6LH HV KLQHLQ /LHEHU HLQ ELFKHQ PHKU 'UFNHQ 6LH HV PLW )LO]IHVW)LO]LVWXQEHGLQJWQ|WLJVDJHLFK,KQHQ GHQN|QQHQ
6LH VLFK OHLFKW LUJHQGZRKHU EHVFKDIIHQ YRQ HLQHU 0DWUDW]H DXFKGLH 7UHQ ZHUGHQ PDQFKPDO PLW )LO] EHVFKODJHQ 'DQQ ZHQQ 6LH GHQ )LO] KLQHLQJHVWRSIW KDEHQ OHJHQ 6LH GLH .XJHO GDUDXIK|UHQ6LHZRKOGLH.XJHOQDFKKHUGDV3XOYHU]XHUVW VRQVW VFKLHW HV QLFKW :DUXP ODFKHQ 6LH" ,FK ZLOO GD 6LH WlJOLFK HLQ SDDUPDO VFKLHHQ XQG XQEHGLQJW HLQ =LHO WUHIIHQ OHUQHQ:HUGHQ6LHGDVDXFKWXQ"© 'HU)UVWODFKWH$JODMDVWDPSIWHlUJHUOLFKPLWGHP)XDXI ,KUH HUQVWH 0LHQH EHL HLQHP VROFKHQ *HVSUl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ª$K/HZ1LNRODMLWVFKGXELVWKLHU:RZLOOVWGXGHQQMHW]W KLQ"©IUDJWHHUREZRKOGLHVHUJDUQLFKWGDUDQGDFKWHVLFKYRQ VHLQHP3ODW]]XUKUHQª.RPPPLWLFKP|FKWHJHUQQRFKHLQ SDDU :RUWH PLW GLU VSUHFKHQ© ª$XI :LHGHUVHKHQ© VDJWH $JODMDXQGUHLFKWHGHP)UVWHQGLH+DQG ,Q GHU 9HUDQGD ZDU HV VFKRQ UHFKW GXQNHO XQG GHU )UVW NRQQWH MHW]W LKUHQ *HVLFKWVDXVGUXFN QLFKW GHXWOLFK HUNHQQHQ *OHLFK GDUDXI DOV HU EHUHLWV PLW GHP *HQHUDO GDV /DQGKDXV YHUOLHHUU|WHWHHUSO|W]OLFKVWDUNXQGSUHWHVHLQHUHFKWH+DQG IHVW]XVDPPHQ (V VWHOOWH VLFK KHUDXV GD ,ZDQ )MRGRURZLWVFK PLW LKP GHQ JOHLFKHQ :HJ KDWWH GHU *HQHUDO JLQJ WURW] GHU VSlWHQ 6WXQGH QRFKHLOLJIRUWXPPLWMHPDQGHWZDV]XEHVSUHFKHQ=XQlFKVW DEHU EHJDQQ HU MHW]W PLW GHP )UVWHQ ]X UHGHQ KDVWLJ DXIJHUHJW XQ]XVDPPHQKlQJHQG XQG HUZlKQWH LQ GHP
*HVSUlFK KlXILJ /LVDZHWD 3URNRIMHZQD +lWWH GHU )UVW LQ GLHVHP $XJHQEOLFN DXIPHUNVDPHU VHLQ N|QQHQ VR ZUGH HU YLHOOHLFKW JHPHUNW KDEHQ GD ,ZDQ )MRGRURZLWVFK XQWHU DQGHUP DXFK YRQ LKP HWZDV KHUDXV]XEULQJHQ RGHU ULFKWLJHU DXVJHGUFNW LKQ RIIHQ XQG JHUDGH]X QDFK HWZDV ]X IUDJHQ ZQVFKWH HV DEHU LPPHU QLFKW IHUWLJEUDFKWH GHQ +DXSWSXQNW ]X EHUKUHQ =X VHLQHU 6FKDQGH ZDU DEHU GHU )UVW LQ HLQHP 0DH]HUVWUHXWGDHUJOHLFKYRQYRUQKHUHLQQLFKWVK|UWHXQG DOV GHU *HQHUDO PLW HLQHU HLIULJHQ )UDJH YRU LKP VWHKHQEOLHE EHNHQQHQPXWHGDHUQLFKWVYHUVWDQGHQKDEH 'HU*HQHUDO]XFNWHPLWGHQ$FKVHOQ ª:DVVHLGLKUDOOHIU VRQGHUEDUH0HQVFKHQJHZRUGHQ©EHJDQQHUGDQQYRQQHXHP ª,FK VDJH GLU LFK EHJUHLIH JDU QLFKW ZDV /LVDZHWD 3URNRIMHZQDVLFKIU*HGDQNHQ PDFKW XQG ZDUXP VLH VLFK VR DXIUHJW6LHLVWIXUFKWEDUQHUY|VXQGZHLQWXQGVDJWZLUVHLHQ EHVFKLPSIWXQGDQGHQ3UDQJHUJHVWHOOWZRUGHQ:HUKl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hEHUUDVFKXQJHQ LQ LKUHP 6FKR ELUJW XQG GD YLHOHV QRFK XQDXIJHNOlUW LVW HV VWHFNW HLQH ,QWULJH GDKLQWHU DEHU ZHQQ PDQ KLHU QLFKWV ZHL XQG GRUW QLFKWV ]X HUNOlUHQ YHUPDJXQGZHQQLFKQLFKWVJHK|UWKDEHXQGGXQLFKWVJHK|UW KDVWXQGMHQHUQLFKWVJHK|UWKDWXQGHLQYLHUWHUHEHQIDOOVQLFKWV JHK|UWKDWZHUKDWGHQQVFKOLHOLFKHWZDVGDYRQJHK|UWIUDJH LFKGLFK":LHVROOPDQGDVGHLQHU$QVLFKWQDFKHUNOlUHQZHQQ PDQ QLFKW VDJHQ ZLOO GLH 6DFKH VHL ]XU +lOIWH HLQH
/XIWVSLHJHOXQJ HWZDV QLFKW ([LVWLHUHQGHV LQ GHU $UW ZLH GDV 0RQGOLFKW RGHU DQGHUH 9LVLRQHQ"© ª6LH LVW JHLVWHVNUDQN© PXUPHOWH GHU )UVW GHU VLFK SO|W]OLFK PLW 6FKPHU] DQ GHQ JDQ]HQ 9RUIDOO YRQ YRUKLQ HULQQHUWH ª'DV KDEH LFK DXFK JHJODXEW ZHQQ GX GDPLW GLHVHV :HLE PHLQVW $XFK PLU ZDU GLHVHU *HGDQNH JHNRPPHQ XQG GDQQ VFKOLHI LFK UXKLJ HLQ $EHU MHW]W VHKH LFK GD VLH GRFK VHKU IROJHULFKWLJ GHQNW XQG JODXEH QLFKW PHKU DQ LKUH *HLVWHVNUDQNKHLW (LQ ODXQLVFKHV :HLE JHZL GDEHL DEHU VFKDUIVLQQLJ XQG JDQ] XQG JDU QLFKW YHUUFNW ,KUH KHXWLJHQ $XVIlOOH JHJHQ .DSLWRQ $OH[HMLWVFK EHZHLVHQGDVGHXWOLFK(VOLHJWLKUHUVHLWVHLQJDXQHULVFKHVGDV KHLW PLQGHVWHQV HLQ MHVXLWLVFKHV 9HUIDKUHQ YRU EHL GHP VLH EHVWLPPWH =LHOH YHUIROJW© ª:DV LVW GDV IU HLQ .DSLWRQ $OH[HMLWVFK"© ª$FK PHLQ *RWW /HZ 1LNRODMLWVFK GX K|UVW MD JDU QLFKW ]X ,FK KDEH MD GDPLW DQJHIDQJHQ GLU YRQ .DSLWRQ $OH[HMLWVFK ]X HU]lKOHQ LFK ELQ VR HUVFKWWHUW GD PLU QRFK MHW]W$UPHXQG%HLQH]LWWHUQ 'DUXP ELQ LFK MD DXFK KHXWH VR ODQJH LQ GHU 6WDGW JHEOLHEHQ (V KDQGHOW VLFK XP .DSLWRQ $OH[HMLWVFK 5DGRPVNLM GHQ 2QNHO -HZJHQLM 3DZORZLWVFKV© ª1XQ ZDV LVW PLW LKP"© ULHI GHU )UVW ª(U KDW VLFK HUVFKRVVHQ KHXWH PRUJHQ XP VLHEHQ 8KU (LQ DOOJHPHLQ JHDFKWHWHU *UHLV VLHE]LJMlKULJ HLQ (SLNXUHHU 8QG JDQ] ZLH VLH JHVDJW KDW HV IHKOHQ 6WDDWVJHOGHU HLQH EHGHXWHQGH 6XPPH© ª:RKHU KDW VLH GHQQ © ª:RKHU VLH GDV HUIDKUHQ KDW" +DKD (V KDW VLFK MD XP VLH VFKRQ HLQ JDQ]HU 6WDE JHELOGHWVREDOGVLHQXUKLHUHUVFKLHQHQLVW:HLWGXQLFKWZDV IU /HXWH VLH MHW]W EHVXFKHQ XQG VLFK XP GLH ¾(KUH LKUHU %HNDQQWVFKDIW½ EHPKHQ" 6LH NRQQWH GDV KHXWH DXI GLH HLQIDFKVWH :HLVH YRQ /HXWHQ GLH DXV GHU 6WDGW JHNRPPHQ ZDUHQHUIDKUHQGHQQMHW]WZHLHVVFKRQJDQ]3HWHUVEXUJXQG KLHUKDOE3DZORZVNRGHUDXFKVFKRQJDQ]3DZORZVN$EHUZLH IHLQ ZDU LKUH %HPHUNXQJ EHU GLH 8QLIRUP ± VLH LVW PLU ZLHGHUHU]lKOW ZRUGHQ ± GDV KHLW LQ EH]XJ GDUDXI GD -HZJHQLM3DZO\WVFKUHFKW]HLWLJGHQ$EVFKLHGJHQRPPHQKDEH
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lUHQ DEHU YHUGlFKWLJ LVW GLH 6DFKH WURW]DOOHGHP)UVW6FKWVFKLVWWLHIHUVFKWWHUW'DVDOOHVLVWVR VHOWVDP EHU XQV KHUHLQJHEURFKHQ© ª$EHU ZDV LVW GHQQ DQ -HZJHQLM 3DZO\WVFKV %HQHKPHQ YHUGlFKWLJ"© ª*DU QLFKWV (U KDW VLFK GXUFKDXV DQVWlQGLJ EHQRPPHQ ,FK KDEH MD DXFK QLFKWV 'HUDUWLJHV DQJHGHXWHW 6HLQ HLJHQHV 9HUP|JHQ GHQNH LFKLVWXQYHUVHKUW/LVDZHWD3URNRIMHZQDZLOOGDYRQQDWUOLFK QLFKWV K|UHQ $EHU GLH +DXSWVDFKH VLQG DOO GLHVH )DPLOLHQNDWDVWURSKHQ RGHU ULFKWLJHU JHVDJW DOO GLHVH =lQNHUHLHQ ± PDQ ZHL JDU QLFKW ZLH PDQ HV QHQQHQ VROO 'X ELVW MD GDV PX PDQ ZLUNOLFK VDJHQ HLQ )UHXQG XQVHUHV +DXVHV /HZ 1LNRODMLWVFK QXQ GHQN GLU HLQPDO HEHQ NRPPW ]XU6SUDFKHZHQQ DXFKQLFKWLQ JHQDXHU]XYHUOlVVLJHU )RUP GD -HZJHQLM 3DZO\WVFK VFKRQ YRU PHKU DOV HLQHP 0RQDW $JODMDHLQHQ+HLUDWVDQWUDJJHPDFKWXQGYRQLKULQDOOHU)RUP HLQHQ .RUE HUKDOWHQ KDW© ª'DV LVW QLFKW P|JOLFK© ULHI GHU )UVW OHEKDIW ª$EHU ZHLW GX GHQQ YLHOOHLFKW HWZDV GDUEHU" 6LHKVWGX7HXHUVWHU©VDJWHGHU*HQHUDOLQGHPHUHUVFKURFNHQ ]XVDPPHQIXKUXQGZLHDQJHQDJHOWDXIGHP)OHFNVWHKHQEOLHE ªLFKKDEHGLUYLHOOHLFKWXQSDVVHQGHUZHLVHPHKUJHVDJWDOVLFK KlWWH VDJHQ VROOHQ DEHU GDV LVW PLU VR HQWVFKOSIW ZHLO GX ZHLO GX PDQ NDQQ VDJHQ ZHLO GX HLQ VROFKHU 0HQVFK ELVW 9LHOOHLFKW ZHLW GX LUJHQG HWZDV %HVRQGHUHV"© ª,FK ZHL QLFKWVYRQ-HZJHQLM3DZO\WVFK©PXUPHOWHGHU)UVW
¾$XFKLFKZHLQLFKWV0LFK±PLFKPHLQ/LHEHUEHKDQGHOQ DOOHJHUDGH]XDOVRELFKVFKRQWRWXQGEHJUDEHQZlUHXQGYRQ QLFKWV PHKU ]X ZLVVHQ EUDXFKWH XQG N|QQHQ GDEHL JDU QLFKW YHUVWHKHQGDGDVIUHLQHQ0HQVFKHQSHLQOLFKLVWXQGGDLFK GDVQLFKWHUWUDJHQNDQQ(EHQKDEHLFKGDHLQH6]HQHHUOHEWHV ZDUVFKUHFNOLFK,FKUHGHPLWGLUDOVZlUVWGXPHLQ6RKQ'LH +DXSWXUVDFKHLVW$JODMDPDFKWVLFKJHUDGH]XEHULKUH0XWWHU OXVWLJ 'D VLH DQVFKHLQHQG YRU HLQHP 0RQDW -HZJHQLM 3DZO\WVFK HLQHQ .RUE JHJHEHQ XQG GD ]ZLVFKHQ LKQHQ HLQH ]LHPOLFK IRUPHOOH $XVHLQDQGHUVHW]XQJ VWDWWJHIXQGHQ KDW KDEHQXQVGLH6FKZHVWHUQDOV9HUPXWXQJPLWJHWHLOW±EULJHQV DOV VLFKHUH 9HUPXWXQJ $EHU VLH LVW MD HLQ VR HLJHQZLOOLJHV SKDQWDVWLVFKHV:HVHQGDHVJDUQLFKW]XVDJHQLVW6LHEHVLW]W GLH SUlFKWLJVWHQ JOlQ]HQGVWHQ (LJHQVFKDIWHQ GHV *HLVWHV XQG +HU]HQV JHZL ]XJHJHEHQ DEHU GDEHL LVW VLH ODXQLVFK XQG VSRWWOXVWLJ NXU] HLQ UHLQHU .REROG XQG KDW LPPHU SKDQWDVWLVFKH(LQIDOOHhEHULKUH0XWWHUKDWVLHVLFKMHW]WHEHQ JHUDGH LQV *HVLFKW OXVWLJ JHPDFKW HEHQVR EHU LKUH 6FKZHVWHUQXQGGHQ)UVWHQ6FKWVFK9RQPLUEUDXFKHLFKHUVW JDU QLFKW ]X UHGHQ EHU PLFK PDFKW VLH VLFK HLJHQWOLFK IRUWZlKUHQGOXVWLJDEHUZHLWGXLFKOLHEHVLHGRFKXQGKDEH HVVRJDUJHUQGDVLHVLFKEHUXQVHUHLQHQOXVWLJPDFKW±XQG ZLH HV VFKHLQW OLHEW PLFK GLHVHU .REROG GHVZHJHQ JDQ] EHVRQGHUVGDVKHLWPHKUDOVVLHDOOHDQGHUQOLHEW,FKP|FKWH GDUDXI ZHWWHQ GD VLH VLFK DXFK EHU GLFK VFKRQ OXVWLJ JHPDFKW KDW ,FK IDQG HXFK KLHU HEHQ LP *HVSUlFK EHJULIIHQ DOV LFK YRQ GHU HUUHJWHQ 6]HQH REHQ KHUXQWHUNDP VLH VD GD PLW GLU ]XVDPPHQ DOV RE QLFKW GDV JHULQJVWH YRUJHIDOOHQ ZlUH© 'HU )UVWZXUGH IXUFKWEDUURWXQG SUHWH VHLQH UHFKWH +DQG ]XVDPPHQ DEHU HU VFKZLHJ ª0HLQ OLHEHU JXWHU /HZ 1LNRODMLWVFK© VDJWH GHU *HQHUDO DXI HLQPDO PLW ZDUPHU (PSILQGXQJ ª,FK XQG VRJDU /LVDZHWD 3URNRIMHZQD VHOEVW GLH EULJHQV ZLHGHU DQJHIDQJHQ KDW DXI GLFK ]X VFKLPSIHQ
XQG ]XJOHLFK LQ ]ZHLWHU /LQLH DXFK DXI PLFK LFK ZHL QLFKW ZHVZHJHQHLJHQWOLFK ZLUOLHEHQGLFKWURW]DOOHGHPZLUOLHEHQ XQG DFKWHQ GLFK DXIULFKWLJ WURW] DOOHU bXHUOLFKNHLWHQ 'X PXW DEHU VHOEVW ]XJHEHQ OLHEHU )UHXQG GX PXW VHOEVW ]XJHEHQ ZDV LVW GDV DXI HLQPDO IU HLQ 5lWVHO XQG IU HLQ bUJHUZHQQPDQK|UWZLHGLHVHUNDOWEOWLJH.REROGGHQQVLH VWDQG YRU LKUHU 0XWWHU PLW GHP $XVGUXFN WLHIVWHU 9HUDFKWXQJ IU DOO XQVHUH )UDJHQ XQG QDPHQWOLFK IU GLH PHLQLJHQ ZHLO LFKKRO¶VGHU7HXIHOGLH'XPPKHLWEHJDQJHQKDWWHVWUHQJ]X VHLQZRLFKGRFKGDV2EHUKDXSWGHU)DPLOLHELQ±QDGDVZDU HEHQ HLQH 'XPPKHLW ZLH GLHVHU NDOWEOWLJH .REROG DXI HLQPDOOlFKHOQGHUNOlUWGDGLHVHJHLVWHVNUDQNHVRGUFNWHVLH VLFK DXV XQG HV NRPPW PLU PHUNZUGLJ YRU GD VLH VLFK GHVVHOEHQ :RUWHV EHGLHQWH ZLH GX ¾+DEW LKU GHQQ GDV QRFK QLFKWJHPHUNW"½VDJWHVLH GDGLHVH*HLVWHVNUDQNH¾HVVLFKLQ GHQ .RSI JHVHW]W KDW PLFK XP MHGHQ 3UHLV PLW /HZ 1LNRODMLWVFK ]X YHUKHLUDWHQ XQG ]X GLHVHP =ZHFNH -HZJHQLM 3DZO\WVFK DXV XQVHUP +DXV KHUDXVVFKDIIHQ P|FKWH½ 0HKU VDJWHVLHQLFKWVLH JDENHLQHZHLWHUHQ(UNOlUXQJHQODFKWHIU VLFK ZLU ULVVHQ HUVWDXQW GHQ 0XQG DXI VLH JLQJ KLQDXV XQG VFKOXJGLH7UKLQWHUVLFK]X'DQQHU]lKOWHQPLUGLH0HLQLJHQ YRQGHU6]HQHGLHVLFKYRUKLQ]ZLVFKHQLKUXQGGLUDEJHVSLHOW KDW XQG XQG K|U PDO OLHEHU )UVW GX ELVW HLQ VHKU YHUVWlQGLJHU 0HQVFK XQG QLFKW HPSILQGOLFK GDV KDEH LFK DQ GLUZDKUJHQRPPHQ DEHU ZHUGH QLFKW E|VH VLH PDFKW VLFK ZHL*RWWEHUGLFKOXVWLJ:LHHLQ.LQGPDFKWVLHVLFKEHU DQGHUH /HXWH OXVWLJ XQG GDUXP VHL LKU QLFKW E|VH DEHU HV YHUKlOW VLFK EHVWLPPW VR 0DFK GLU GDUEHU ZHLWHU NHLQH *HGDQNHQ±VLHKlOWGLFKXQGXQVDOOHHLQIDFK]XP1DUUHQVR ]XP =HLWYHUWUHLE $EHU QXQ OHE ZRKO 'X NHQQVW GRFK XQVHUH *HVLQQXQJ" 8QVHUH KHU]OLFKH =XQHLJXQJ ]X GLU" 'LH LVW XQZDQGHOEDU IU DOOH =HLW XQG LQ MHGHU +LQVLFKW DEHU LFK PX MHW]W KLHU DEELHJHQ DXI :LHGHUVHKQ 6HOWHQ LQ PHLQHP /HEHQ KDEH LFK PLFK VR XQEHKDJOLFK JHIKOW ZLH MHW]W 2
ZHKLVWGDVHLQH6RPPHUIULVFKH© $OV GHU )UVW DQ GHU 6WUDHQNUHX]XQJ DOOHLQ JHEOLHEHQ ZDU EOLFNWH HU VLFK QDFK DOOHQ 6HLWHQ XP JLQJ VFKQHOO EHU GLH 6WUDH WUDW QDKH DQ GDV HUOHXFKWHWH )HQVWHU HLQHV /DQGKDXVHV KHUDQIDOWHWHHLQHQNOHLQHQ=HWWHODXVHLQDQGHUGHQHUZlKUHQG GHV JDQ]HQ *HVSUlFKHV PLW ,ZDQ )MRGRURZLWVFK IHVW LQ GHU UHFKWHQ +DQG ]XVDPPHQJHGUFNW KDWWH XQG ODV XQWHU %HQXW]XQJGHVVFKZDFKHQ/LFKWVFKLPPHUV ª0RUJHQIUKXP VLHEHQ8KUZHUGHLFKDXIGHUJUQHQ%DQNLP3DUNVLW]HQXQG 6LH HUZDUWHQ ,FK ZLOO PLW ,KQHQ EHU HLQH VHKU ZLFKWLJH $QJHOHJHQKHLWUHGHQGLH6LHGLUHNWDQJHKW 36,FKKRIIH6LHZHUGHQGLHVHQ=HWWHOQLHPDQG]HLJHQ,FK VFKlPH PLFK ]ZDU ,KQHQ HLQH VROFKH ,QVWUXNWLRQ ]X JHEHQ KDEHPLUDEHUJHVDJWGDVLHEHL,KQHQQ|WLJLVWXQGVLHGDUXP KHUJHVHW]W ZREHL LFK YRU 6FKDP EHU ,KUHQ NRPLVFKHQ &KDUDNWHUHUU|WHWH 33 66 (V LVW GLHVHOEH JUQH %DQN GLH LFK ,KQHQ YRUKLQ JH]HLJW KDEH 6FKlPHQ 6LH VLFK ,FK VDK PLFK JHQ|WLJW DXFK GDVHUVWQRFKKHU]XVFKUHLEHQ© 'HU =HWWHO ZDU HLOLJ JHVFKULHEHQ XQG RKQH 6RUJIDOW ]XVDPPHQJHIDOWHW DOOHU :DKUVFKHLQOLFKNHLW QDFK NXU] EHYRU $JODMD QDFK GHU 9HUDQGD KHUDXVJHNRPPHQ ZDU ,Q HLQHU XQVDJEDUHQ $XIUHJXQJ GLH PLW $QJVW bKQOLFKNHLW KDWWH GUFNWHGHU)UVWGHQ=HWWHOZLHGHULQGHU+DQG]XVDPPHQXQG VSUDQJVFKQHOOZLHHLQHUVFKUHFNWHU'LHEYRP)HQVWHUXQGYRP /LFKW ]XUFN DEHU EHL GLHVHU %HZHJXQJ VWLH HU DXI HLQPDO KHIWLJPLWHLQHP+HUUQ]XVDPPHQGHUXQPLWWHOEDUKLQWHULKP VWDQGª,FKELQ,KQHQJHIROJW)UVW©VDJWHGHU+HUUª6LHVLQG HV .HOOHU"© ULHI GHU )UVW HUVWDXQW ª,FK P|FKWH PLW ,KQHQ UHGHQ)UVW,FKKDEHEHLGHP-HSDQWVFKLQVFKHQ/DQGKDXVDXI 6LH JHZDUWHW KLQHLQJHKHQ NRQQWH LFK QDWUOLFK QLFKW ,FK ELQ KLQWHU ,KQHQ KHUJHJDQJHQ ZlKUHQG 6LH PLW GHP *HQHUDO JLQJHQ ,FK VWHKH ]X ,KUHQ 'LHQVWHQ )UVW YHUIJHQ 6LH EHU .HOOHU,FKELQEHUHLWIU6LHMHGHV2SIHU]XEULQJHQXQGZHQQ
HV VHLQ PX VRJDU ]X VWHUEHQ© ª$EHU ZHVKDOE GHQQ"© ª1XQHVZLUGMHW]WMHGHQIDOOVHLQH+HUDXVIRUGHUXQJ]XP'XHOO HUIROJHQ'LHVHU/HXWQDQW0RORZ]RZLFKNHQQHLKQGDVKHLW QLFKW SHUV|QOLFK HU ZLUG GLH %HOHLGLJXQJ QLFKW VR KLQQHKPHQ8QVHUHLQHQGDVKHLWPLFKXQG5RJRVKLQKlOWHU QDWUOLFK IU 3DFN XQG YLHOOHLFKW YHUGLHQWHUPDHQ DXI GLHVH :HLVHIlOOWGLH9HUDQWZRUWXQJDOOHLQ,KQHQ]X6LHZHUGHQGLH =HFKH EH]DKOHQ PVVHQ )UVW (U KDW VLFK ZLH LFK JHK|UW KDEH QDFK ,KQHQ HUNXQGLJW XQG HV ZLUG VLFK JHZL PRUJHQ HLQHU VHLQHU )UHXQGH EHL ,KQHQ HLQILQGHQ YLHOOHLFKW ZDUWHW HU DXFK MHW]W VFKRQ DXI 6LH :HQQ 6LH PLU GLH (KUH HUZHLVHQ ZROOHQ PLFK DOV 6HNXQGDQWHQ ]X QHKPHQ VR ELQ LFK EHUHLW DOOHV DXI PLFK ]X QHKPHQ GDUXP KDEH LFK 6LH DXIJHVXFKW )UVW©ª$OVRDXFK6LHUHGHQYRQHLQHP'XHOO©ULHIGHU)UVW ODFKHQG ]X .HOOHUV JU|WHP (UVWDXQHQ (U ODFKWH JHZDOWLJ .HOOHUGHUZLUNOLFKYRQ 8QUXKH JHSHLQLJW ZRUGHQ ZDU ELV HU HV ]X VHLQHU %HUXKLJXQJ IHUWLJJHEUDFKW KDWWH VLFK DOV 6HNXQGDQWHQ DQ]XELHWHQ IKOWH VLFK EHLQDK EHOHLGLJW DOV HU GHQ )UVWHQ VR KHLWHU ODFKHQ VDK ª6LH KDEHQ LKQ DEHU YRUKLQ EHL GHQ $UPHQ JHSDFNW )UVW 'DV NDQQ VLFK HLQ DQVWlQGLJHU 0HQVFK YRU GHQ $XJHQ GHV 3XEOLNXPV VFKZHUOLFK JHIDOOHQ ODVVHQ© ª8QG HU KDW PLFK YRU GLH %UXVW JHVWRHQ© ULHI GHU )UVW ODFKHQG ª:LU KDEHQ NHLQHQ *UXQG XQV ]X GXHOOLHUHQ ,FK ZHUGH LKQ XP 9HU]HLKXQJ ELWWHQ XQG GDPLW LVW GLH 6DFKH HUOHGLJW:HQQHVDEHU]XP'XHOONRPPHQVROOPLULVW¶VUHFKW 0DJ HU VFKLHHQ LFK ZQVFKH HV VRJDU +DKD ,FK YHUVWHKH MHW]WHLQH3LVWROH]XODGHQ9HUVWHKHQ6LHHLQH3LVWROH]XODGHQ .HOOHU" =XHUVW PX PDQ 3XOYHU NDXIHQ 3LVWROHQSXOYHU QLFKW IHXFKWHVXQGQLFKWVRJUREHVZLHGDVZRPLWPDQDXV.DQRQHQ VFKLHW GDQQ PX PDQ ]XHUVW GDV 3XOYHU KLQHLQWXQ GDUDXI )LO]GHQPDQYRQHLQHU7UDEUHLWXQGGDQQVFKLHEWPDQGLH .XJHO KLQHLQ DEHU QLFKW GLH .XJHO YRU GHP 3XOYHU ZHLO HV VRQVWQLFKWVFKLHW+|UHQ6LHZRKO.HOOHUZHLOHVVRQVWQLFKW VFKLHW +DKD ,VW GDV QLFKW HLQH DXVJH]HLFKQHWH %HJUQGXQJ
)UHXQG .HOOHU" $FK .HOOHU ZLVVHQ 6LH LFK ZHUGH 6LH JOHLFK XPDUPHQ XQG NVVHQ +DKDKD :LH JLQJ GDV QXU ]X GD 6LH YRUKLQ LQ GHP 9DX[KDOO VR SO|W]OLFK YRU LKP VWDQGHQ" .RPPHQ 6LH P|JOLFKVW EDOG HLQPDO ]X PLU &KDPSDJQHU WULQNHQ :LU ZROOHQ XQV DOOH JHK|ULJ EH]HFKHQ :LVVHQ 6LH GD LFK ]Z|OI )ODVFKHQ &KDPSDJQHU LQ /HEHGHZV .HOOHU OLHJHQ KDEH" /HEHGHZ KDW VLH PLU YRUJHVWHUQ DOV *HOHJHQKHLWVNDXI DQJHERWHQ JOHLFK DP DQGHUQ 7DJ QDFKGHP LFK ]X LKP JH]RJHQ ZDU LFK KDEH VLH DOOH JHNDXIW ,FK ZHUGH GLHJDQ]H*HVHOOVFKDIW]XVDPPHQHLQODGHQ:LHLVW¶VZHUGHQ 6LH KHXWH QDFKW VFKODIHQ"© ª:LH MHGH 1DFKW )UVW© ª1XQ GDQQZQVFKHLFK,KQHQDQJHQHKPH7UlXPH+DKD© 'HU )UVW JLQJ TXHU EHU GLH 6WUDH XQG YHUVFKZDQG LP 3DUN .HOOHU EOLHE VHKU YHUZXQGHUW XQG QDFKGHQNOLFK VWHKHQ (UKDWWHGHQ)UVWHQQRFKQLHLQHLQHPVRVRQGHUEDUHQ=XVWDQG JHVHKHQXQGLKQVLFKELVKHUDXFKQLFKWVRYRUVWHOOHQN|QQHQ 9LHOOHLFKW ILHEHUW HU GHQQ HU LVW HLQ QHUY|VHU 0HQVFK XQG GDVDOOHVKDWHLQHVWDUNH:LUNXQJDXILKQDXVJHEWDEHUIHLJH LVWHUJHZLQLFKW*HUDGHVROFKH /HXWHVLQGQLFKWIHLJHZHL *RWW½GDFKWH.HOOHUEHLVLFK¾+P&KDPSDJQHU'DVLVWGRFK HLQH VHKU LQWHUHVVDQWH 0LWWHLOXQJ =Z|OI )ODVFKHQ HLQ 'XW]HQG GDV OlW VLFK K|UHQ HLQH RUGHQWOLFKH %DWWHULH ,FK P|FKWH ZHWWHQ GD /HEHGHZ GHQ &KDPSDJQHU YRQ LUJHQG MHPDQGDOV3IDQGEHNRPPHQKDW+P(ULVWDEHUGRFKUHFKW OLHEHQVZUGLJ GLHVHU )UVW ZLUNOLFK LFK KDEH VROFKH 0HQVFKHQJHUQDEHUHVLVWNHLQH=HLW]XYHUOLHUHQXQGZHQQ &KDPSDJQHUGDLVWVRLVWGDVJHUDGHGLHULFKWLJH=HLW½ 'D GHU )UVW VLFK LQ HLQHP ILHEHUKDIWHQ =XVWDQG EHIDQG ZDUQDWUOLFKJDQ]ULFKWLJ (UVFKZHLIWHODQJHLPGXQNOHQ3DUNXPKHUXQGNDPHQGOLFK ]X VLFK DOV HU LQ HLQHU $OOHH DXI XQG DE JLQJ ,Q VHLQHP %HZXWVHLQKDIWHWHGLH(ULQQHUXQJGDHULQGLHVHU$OOHHYRQ HLQHU %DQN DQJHIDQJHQ ELV ]X HLQHP DOWHQ KRKHQ DXIIDOOHQGHQ QXU KXQGHUW 6FKULWWH YRQ LKU HQWIHUQWHQ %DXP
EHUHLWVHWZDGUHLLJELVYLHU]LJPDOKLQXQGKHUJHJDQJHQZDU 6LFK ]X HULQQHUQ ZDV HU LQ GLHVHU =HLW YRQ PLQGHVWHQV HLQHU JDQ]HQ 6WXQGH LP 3DUN JHGDFKW KDWWH ZDU HU DXHUVWDQGH VHOEVW ZHQQ HU HV JHZROOW KlWWH (U HUWDSSWH VLFK EULJHQV EHL HLQHP *HGDQNHQ GHU LKQ YHUDQODJWH SO|W]OLFK LQ HLQ ODXWHV *HOlFKWHU DXV]XEUHFKHQ HV ZDU ]ZDU HLJHQWOLFK NHLQ *UXQG ]XP /DFKHQ YRUKDQGHQ DEHU HU KDWWH MHW]W LPPHU /XVW ]X ODFKHQ (V ZDU LKP HLQJHIDOOHQ GD GLH ,GHH YRQ HLQHP EHYRUVWHKHQGHQ'XHOODXFKQRFKLQHLQHPDQGHUQ.RSIDOVQXU LQ GHP .HOOHUV KDWWH HQWVWHKHQ N|QQHQ XQG GD GDKHU GLH *HVFKLFKWHYRP3LVWROHQODGHQYLHOOHLFKWQLFKW]XIlOOLJJHZHVHQ ZDU¾$K½GDFKWHHUXQGEOLHEYRQHLQHPDQGHUQ*HGDQNHQ EHUUDVFKWVWHKHQ¾YRUKLQNDPVLHQDFKGHU9HUDQGDKHUXQWHU DOVLFKLQGHU(FNHVDXQGZXQGHUWHVLFKJHZDOWLJPLFKGRUW ]X ILQGHQ XQG ODFKWH VR XQG ILQJ DQ YRP 7HHWULQNHQ ]X UHGHQ XQG GRFK KDWWH VLH LQ GLHVHP $XJHQEOLFN VFKRQ GHQ =HWWHOLQGHU+DQGIROJOLFKZXWHVLHXQEHGLQJWGDLFKLQGHU 9HUDQGDVD:DUXPWDWVLHGDQQDOVRVRHUVWDXQW"+DKDKD½ (U]RJGHQ =HWWHODXVGHU 7DVFKH XQG NWH LKQ EOLHE GDQQ DEHU VRJOHLFK VWHKHQ XQG YHUVDQN LQ *HGDQNHQ ª:LH VRQGHUEDU GDV LVW :LH VRQGHUEDU GDV LVW© VDJWH HU HLQ :HLOFKHQ GDUDXI EHLQDKH WUDXULJ ,Q $XJHQEOLFNHQ HLQHU VWDUNHQ )UHXGH ZXUGH HU VWHWV WUDXULJ HU ZXWH VHOEVW QLFKW ZDUXP (U VFKDXWH DXIPHUNVDP XP VLFK XQG ZXQGHUWH VLFK GDHUKLHUKHUJHUDWHQZDU(UZDUVHKUPGHJLQJ]XGHU%DQN XQG VHW]WH VLFK GDUDXI 5LQJVXP KHUUVFKWH WLHIH 6WLOOH 'LH 0XVLN LP 9DX[KDOO KDWWH VFKRQ DXIJHK|UW ,P 3DUN ZDU YLHOOHLFKW NHLQH 0HQVFKHQVHHOH PHKU HV ZDU MD DXFK VFKRQ PLQGHVWHQVKDOE]Z|OI(VZDUHLQHVWLOOHZDUPHKHOOH1DFKW VRHLQHHFKWH3HWHUVEXUJHU1DFKW]X$QIDQJ-XQLDEHULQGHP GLFKWHQVFKDWWLJHQ3DUNXQGLQGHU$OOHHLQGHUHUVLFKEHIDQG ZDUHVVFKRQIDVWJDQ]GXQNHO :HQQLKPMHPDQGLQGLHVHP$XJHQEOLFNJHVDJWKlWWHGDHU YHUOLHEW OHLGHQVFKDIWOLFK YHUOLHEW VHL VR ZUGH HU GLHVHQ
*HGDQNHQ HUVWDXQW XQG YLHOOHLFKW VRJDU HQWUVWHW ]XUFNJHZLHVHQ KDEHQ 8QG ZHQQ MHPDQG KLQ]XJHIJW KlWWH GD $JODMDV =HWWHOFKHQ HLQ /LHEHVEULHI VHL GLH $XIIRUGHUXQJ ]XHLQHP5HQGH]YRXVVRZUGHHUVLFKIULKQLQWLHIVWHU6HHOH JHVFKlPWXQGLKQYLHOOHLFKW]XP'XHOOJHIRUGHUWKDEHQ'LHVH VHLQH JDQ]H $QVFKDXXQJ ZDU Y|OOLJ DXIULFKWLJ XQG GXUFK NHLQHUOHL =ZHLIHO JHWUEW XQG HU OHKQWH MHGH 6SXU HLQHV ªGRSSHOWHQ© *HGDQNHQV DQ GLH 0|JOLFKNHLW GHU /LHEH HLQHV VROFKHQ 0lGFKHQV ]X LKP RGHU JDU DQ GLH 0|JOLFKNHLW VHLQHU /LHEH ]X GLHVHP 0lGFKHQ HQWVFKLHGHQ DE (LQHV VROFKHQ *HGDQNHQVKlWWHHUVLFK JHVFKlPW GLH $QQDKPH GD VLH LKQ ªHLQHQ VROFKHQ 0HQVFKHQ© OLHEHQ N|QQH KDWWH HU IU XQJHKHXHUOLFK JHKDOWHQ 6HLQHU 9RUVWHOOXQJ QDFK KDQGHOWH HV VLFK YRQ LKUHU 6HLWH HLQIDFK XP 0XWZLOOHQ ZHQQ EHUKDXSW HWZDV GDKLQWHUVWHFNWH DEHU HU IDQG GLHVHQ 0XWZLOOHQ JDQ] QDWUOLFKXQGUHJWHVLFKGDUEHUQLFKWDXIHWZDVJDQ]DQGHUHV ZDUHVZDVLKQEHVFKlIWLJWHXQGVHLQH*HGDQNHQLQ$QVSUXFK QDKP'LH%HPHUNXQJGLHNXU]YRUKHUGHP*HQHUDOLQVHLQHU (UUHJXQJ HQWVFKOSIW ZDU GD VLH VLFK EHU DOOH XQG QDPHQWOLFK EHU LKQ GHQ )UVWHQ OXVWLJ PDFKH KLHOW HU IU YROONRPPHQ ULFKWLJ (U IKOWH VLFK GDGXUFK DXFK QLFKW LP JHULQJVWHQYHUOHW]WVHLQHU0HLQXQJQDFKPXWHHVVRVHLQ'LH +DXSWVDFKH ZDU IU LKQ GD HU VLH DP QlFKVWHQ 7DJH IUKPRUJHQV ZLHGHUVHKHQ QHEHQ LKU DXI GHU JUQHQ %DQN VLW]HQGLH%HOHKUXQJEHUGDV/DGHQYRQ3LVWROHQDQK|UHQXQG VLHDQVHKHQZUGH:HLWHUKDWWHHUNHLQHQ:XQVFK'LH)UDJH ZDV VLH LKP HLJHQWOLFK VDJHQ ZROOWH XQG ZDV GDV IU HLQH ZLFKWLJH LKQ GLUHNW DQJHKHQGH $QJHOHJHQKHLW ZDU WDXFKWH HEHQIDOOV HLQ± RGHU ]ZHLPDO LQ VHLQHP .RSI DXI $Q GHU WDWVlFKOLFKHQ ([LVWHQ] GLHVHU ªZLFKWLJHQ $QJHOHJHQKHLW© XP GHUHQWZLOOHQ HU ]XP 5HQGH]YRXV EHVWHOOW ZDU ]ZHLIHOWH HU EULJHQV NHLQHQ $XJHQEOLFN DEHU HU GDFKWH DQ GLHVH ZLFKWLJH $QJHOHJHQKHLW MHW]W IDVW JDU QLFKW VR ZHQLJ GD HU QLFKW HLQPDOGHQJHULQJVWHQ'UDQJYHUVSUWHGDUDQ]XGHQNHQ
'DV .QLUVFKHQ OHLVHU 6FKULWWH DXI GHP 6DQG GHU $OOHH YHUDQODWH LKQ GHQ .RSI ]X KHEHQ (LQ 0HQVFK GHVVHQ *HVLFKW LQ GHU 'XQNHOKHLW VFKZHU ]X HUNHQQHQ ZDU QlKHUWH VLFK GHU %DQN XQG VHW]WH VLFK QHEHQ LKQ 'HU )UVW UFNWH VFKQHOO QDKH DQ LKQ KHUDQ XQG HUNDQQWH GDV EOHLFKH *HVLFKW 5RJRVKLQVª'DVKDEHLFKGRFKJHZXWGDGXKLHULUJHQGZR XPKHUVFKZHLIVW LFK KDEH DXFK QLFKW ODQJH ]X VXFKHQ EUDXFKHQ©PXUPHOWH5RJRVKLQGXUFKGLH=lKQH (VZDUGDVHUVWHPDOVHLWLKUHU%HJHJQXQJDXIGHU7UHSSHGHV *DVWKDXVHV GD VLH PLWHLQDQGHU ]XVDPPHQWUDIHQ hEHUUDVFKW GXUFK5RJRVKLQVSO|W]OLFKHV(UVFKHLQHQNRQQWHGHU)UVWHLQH :HLOH QLFKW VHLQH *HGDQNHQ VDPPHOQ XQG HLQH TXDOYROOH (PSILQGXQJ ZXUGH LQ VHLQHP +HU]HQ ZLHGHU ZDFK 5RJRVKLQ KDWWHRIIHQEDU9HUVWlQGQLVIUGHQ(LQGUXFNGHQHUKHUYRUULHI DEHUREJOHLFKHUDQIlQJOLFKYHUZLUUW]XVHLQXQGPLWHLQHU$UW JHNQVWHOWHU8QJH]ZXQJHQKHLW]XUHGHQVFKLHQVFKLHQHVGHP )UVWHQGRFKEDOGGDVHLQ%HQHKPHQXQJHNQVWHOWXQGQLFKW HLQPDO EHVRQGHUV YHUOHJHQ ZDU ZHQQ HLQH JHZLVVH 8QJHVFKLFNOLFKNHLW LQ VHLQHQ *HVWHQ XQG VHLQHU 5HGHZHLVH ]XWDJH WUDW VR ZDU GDV QXU lXHUOLFK LP +HU]HQ NRQQWH VLFK GLHVHU0HQVFKQLFKWYHUlQGHUQª:LHKDVWGXPLFKGHQQKLHU JHIXQGHQ"©IUDJWHGHU)UVWXPHWZDV]XVDJHQª,FKKDWWHYRQ .HOOHUJHK|UWLFKZDUQlPOLFKLQGHLQHU:RKQXQJ GXZlUHVW LQ GHQ 3DUN JHJDQJHQ QD GDFKWH LFK GDQQ LVW GLH 6DFKH ULFKWLJ© ª:DV KHLW GDV ¾GLH 6DFKH LVW ULFKWLJ½"© IUDJWH GHU )UVW LQGHP HU DXIJHUHJW GHQ $XVGUXFN DXIJULII GHU GHP DQGHUQHQWVFKOSIWZDU 5RJRVKLQ OlFKHOWH JDE DEHU NHLQH (UNOlUXQJ ª,FK KDEH GHLQHQ %ULHI HUKDOWHQ /HZ 1LNRODMLWVFK GX KDVW GLU XQQW]H 0KHJHPDFKWZR]XWXVWGXGDVQXU-HW]WDEHU NRPPH LFK ]X GLU LQ LKUHP $XIWUDJ GX VROOVW XQEHGLQJW ]X LKU NRPPHQVLHKDWGLUHWZDV]XVDJHQ6LHOlWGLFKELWWHQQRFK KHXWH KLQ]XNRPPHQ© ª,FK ZHUGH PRUJHQ NRPPHQ ,FK JHKH MHW]W JOHLFK QDFK +DXVH :LOOVW GX QLFKW ]X PLU NRPPHQ"©
ª:R]X",FKKDEHGLUDOOHV1|WLJH JHVDJW /HE ZRKO© ª:LOOVW GX QLFKW GRFK PLWJHKHQ"© IUDJWH LKQ GHU )UVW OHLVH ª'X ELVW HLQVRQGHUEDUHU0HQVFK/HZ1LNRODMLWVFKPDQPXVLFKEHU GLFKZXQGHUQ© 5RJRVKLQOlFKHOWHVS|WWLVFKª:DUXP":HVKDOEKDVWGXMHW]W HLQHQVROFKHQ*UROOJHJHQ PLFK"© IUDJWH LKQ GHU )UVW WUDXULJ XQG PLW OHLGHQVFKDIWOLFKHU (PSILQGXQJ ª'X ZHLW MD MHW]W VHOEVW GD DOOHV ZDV GX JHGDFKW KDVW XQZDKU LVW hEULJHQV± KDEHLFKHVPLUDXFKJHGDFKWGDGHLQ*UROOJHJHQPLFKQRFK QLFKW YHUJDQJHQ VHLQ ZUGH XQG ZHLW GX ZHVKDOE" :HLO GX PLUQDFKGHP/HEHQJHWUDFKWHWKDVWGDUXPYHUJHKWGHLQ*UROO QLFKW ,FK VDJH GLU LFK HULQQHUH PLFK QXU DQ MHQHQ 3DUIHQ 5RJRVKLQ PLW GHP LFK DQ MHQHP 7DJ GDV .UHX] JHZHFKVHOW KDEHLFKKDEHGLUGDVLQPHLQHPJHVWULJHQ%ULHIJHVFKULHEHQ GDPLW GX GLHVHQ JDQ]HQ )LHEHUZDKQ YHUJHVVHQ XQG QLFKW PLW PLUGDYRQ]XUHGHQDQIDQJHQP|FKWHVW:DUXPUFNVWGXYRQ PLUZHJ":DUXPYHUVWHFNVWGXGHLQH+DQGYRUPLU" ,FKVDJH GLUGDLFKDOOHVGDPDOV*HVFKHKHQHQXUIUHLQHQ)LHEHUZDKQ KDOWH LFK NHQQH GLFK ZLH GX DQ MHQHP JDQ]HQ 7DJH ZDUVW GXUFK XQG GXUFK ZLH PLFK VHOEVW 'DV ZDV GX GLU HLQELOGHVW KDW QLFKW H[LVWLHUW XQG NRQQWH QLFKW H[LVWLHUHQ :DUXP VROO XQVHU *UROO IRUWGDXHUQ"© ª:DV NDQQVW GX GHQQ IU *UROO HPSILQGHQ"© HUZLGHUWH 5RJRVKLQ ZLHGHU ODFKHQG DXI GLH ZDUPHQ :RUWH GHV )UVWHQ (U VWDQG ZLUNOLFK HWZDV YRQ LKP HQWIHUQWGDHUHLQSDDU6FKULWWH]XUFNJHZLFKHQZDUXQGKLHOW VHLQH +lQGH YHUVWHFNW ª(V VFKLFNW VLFK MHW]W IU PLFK EHUKDXSW QLFKW ]X GLU ]X NRPPHQ /HZ 1LNRODMLWVFK© IJWH HUODQJVDPXQGEHGHXWVDP]XP6FKOXKLQ]Xª6RVHKUKDWGX PLFKDOVR":LH"©ª,FKOLHEHGLFKQLFKW/HZ1LNRODMLWVFKDOVR ZDUXPVROOWHLFK]XGLUNRPPHQ"$FK)UVWGXELVWJDQ]ZLH HLQ NOHLQHV .LQG GX P|FKWHVW HLQ 6SLHO]HXJ KDEHQ ¾JLE KHU JLEKHU½KHLWHV DEHUGXYHUVWHKVWYRQGHU6DFKHJDUQLFKWV :DV GX MHW]W VDJVW KDVW GX PLU DOOHV JDQ] HEHQVR LQ GHLQHP %ULHI JHVFKULHEHQ PHLQVW GX GHQQ GD LFK GLU QLFKW JODXEH"
,FKJODXEHMHGHV:RUWGDVGXVDJVWXQGZHLGDGXPLFKQLH JHWlXVFKW KDVW XQG QLH WlXVFKHQ ZLUVW DEHU LFK OLHEH GLFK WURW]GHPQLFKW'XVFKUHLEVWPLUGXKlWWHVWDOOHVYHUJHVVHQXQG HULQQHUVWGLFKQXUDQGHLQHQ.UHX]EUXGHU5RJRVKLQDEHUQLFKW DQMHQHQ5RJRVKLQGHUGDPDOVGDV0HVVHUJHJHQGLFKJH]FNW KDEH$EHUZRKHUNHQQVWGXGHQQPHLQH*HIKOH"©5RJRVKLQ OlFKHOWH ZLHGHU ª,FK KDEH GDV YLHOOHLFKW VHLWGHP QRFK QLH EHUHXW XQG GX KDVW PLU VFKRQ GHLQH EUGHUOLFKH 9HU]HLKXQJ JHVFKLFNW 9LHOOHLFKW KDEH LFK JOHLFK DQ MHQHP VHOEHQ $EHQG VFKRQDQHWZDVJDQ]DQGHUHVJHGDFKWXQGGLHVH*HVFKLFKWH© ª8QG GLHVH *HVFKLFKWH YHUJHVVHQ© ILHO GHU )UVW HLQ ª:LH N|QQWHHVDXFKDQGHUVVHLQ,FKP|FKWHZHWWHQGDGXGDPDOV JHUDGHZHJV QDFK GHU %DKQ JHODXIHQ XQG KLHUKHU QDFK 3DZORZVN ]XU 0XVLN JHIDKUHQ XQG LKU JHUDGH ZLH KHXWH LP 0HQVFKHQJHZKO QDFKJHJDQJHQ ELVW XQG VLH EHREDFKWHW KDVW 'DV ZXQGHUW PLFK JDU QLFKW +lWWHVW GX GLFK QLFKW GDPDOV LQ HLQHP VROFKHQ =XVWDQG EHIXQGHQ GD GX QXU DQ GDV HLQH GHQNHQNRQQWHVWVRZUGHVWGXYLHOOHLFKWJDUQLFKWGDV0HVVHU JHJHQ PLFK HUKREHQ KDEHQ ,FK KDWWH GDPDOV VFKRQ YRP 9RUPLWWDJDQDOVLFKGLFKDQEOLFNWHVRHLQH$KQXQJZHLWGX ZLH GX GD DXVVDKVW" ,Q GHP $XJHQEOLFN DOV ZLU GLH .UHX]H WDXVFKWHQGDZXUGHGLHVHU*HGDQNHZRKO]XHUVWLQPLUZDFK :DUXPKDVWGXPLFKGDPDOV]XGHUDOWHQ)UDXJHIKUW"'HLQH $EVLFKW ZDU GRFK ZRKO GHLQH HLJHQH +DQG GDGXUFK DXI]XKDOWHQ" $EHU GX KDVW GDV XQP|JOLFK NODU JHGDFKW VRQGHUQQXUXQEHVWLPPWJHIKOWJHUDGHZLHLFK:LUKDWWHQ GDPDOVEHLGHGDVJOHLFKH*HIKO8QGKlWWHVWGXGDPDOVGHLQH +DQG QLFKW JHJHQ PLFK HUKREHQ *RWW KDW VLH DEJHZHQGHW ZDVZlUHLFKGDQQMHW]WYRUGLU"'HQQLFKPHLQHUVHLWVKDWWHMD GRFK MHQHQ 9HUGDFKW JHJHQ GLFK ZLU KDEHQ GLHVHOEH 6QGH EHJDQJHQ GLH JOHLFKH 6QGH 5XQ]OH QLFKW GLH 6WLUQ 1XQ XQG ZHVKDOE ODFKVW GX" 'X VDJVW GX KlWWHVW HV QLFKW EHUHXW $EHUVHOEVWZHQQGXHVJHZROOWKlWWHVWGXKlWWHVWHVYLHOOHLFKW JDUQLFKWJHNRQQWZHLOGXPLFKHEHQQLFKWOLHEWHVW8QGZlUH
LFKGLUJHJHQEHUXQVFKXOGLJZLHHLQ(QJHOVRZLUVWGXPLFK WURW]GHPQLFKWOHLGHQN|QQHQVRODQJHGXGHQNVWGDVLHQLFKW GLFK VRQGHUQ PLFK OLHEW 'DV OLHJW LP :HVHQ GHU (LIHUVXFKW $EHUQXQK|UHLQPDO]X3DUIHQLFKZLOOGLUVDJHQ]XZHOFKHP 5HVXOWDWPLFKLQGLHVHU:RFKHPHLQ1DFKGHQNHQJHEUDFKWKDW ZHLWGXGDVLHGLFKMHW]WYLHOOHLFKWPHKUOLHEWDOVLUJHQGHLQHQ DQGHUQXQGVRJDUVRVWDUNGDLKUH/LHEHXPVRJU|HULVWMH PHKU VLH GLFK TXlOW" 6LH ZLUG GLU GDV QLFKW VDJHQ DEHU PDQ PX YHUVWHKHQ GDV ]X GXUFKVFKDXHQ :DUXP ZLUG VLH GLFK VFKOLHOLFKGRFKKHLUDWHQ"6LHZLUGHVGLUVSlWHU HLQPDOVHOEVW VDJHQ 0DQFKH )UDXHQ KDEHQ HV VRJDU JHUQ GD PDQ VLH VR OLHEW XQG JHUDGH VLH KDW HLQHQ VROFKHQ &KDUDNWHU 8QG GHLQ &KDUDNWHU XQG GHLQH /LHEH KDEHQ VLFKHUOLFK DXI VLH HLQHQ JURHQ (LQGUXFN JHPDFKW :HLW GX GD HLQH )UDX LPVWDQGH LVWHLQHQ0HQVFKHQGXUFKLKUH*UDXVDPNHLWHQXQG6S|WWHUHLHQ ]X PDUWHUQ RKQH GDEHL GLH JHULQJVWHQ *HZLVVHQVELVVH ]X YHUVSUHQ ZHLO VLH MHGHVPDO ZHQQ VLH GHQ %HWUHIIHQGHQ DQVLHKWGHQNW-HW]WTXlOHLFKLKQKDOEWRWDEHUQDFKKHUZHUGH LFKGXUFKPHLQH/LHEHDOOHVZLHGHUJXWPDFKHQ½© 5RJRVKLQ ODFKWH DOV HU GHQ )UVWHQ GDV VDJHQ K|UWH ª+|U PDO)UVWGXELVWZRKOVHOEVWDQVRHLQHJHUDWHQ",FKKDEHVR HWZDV EHU GLFK JHK|UW ZHQQ¶V ZDKU LVW© ª:DV NDQQVW GX JHK|UW KDEHQ" :DV"© IUDJWH GHU )UVW GHU SO|W]OLFK ]XVDPPHQIXKUXQGLQJURHU%HVWU]XQJVWHKHQEOLHE 5RJRVKLQ IXKU IRUW ]X ODFKHQ (U KDWWH PLW ,QWHUHVVH XQG YLHOOHLFKW QLFKW RKQH 9HUJQJHQ GHP )UVWHQ ]XJHK|UW GLH IUHXGLJHZDUPH%HJHLVWHUXQJGHV)UVWHQLPSRQLHUWHLKPXQG HUPXWLJWHLKQ ª8QGLFK KDEH QLFKW QXU HWZDV JHK|UW VRQGHUQ LFK VHKH MHW]W DXFK VHOEVW GD HV ZDKU LVW© IJWH HU KLQ]X ª:DQQ KlWWHVW GX GHQQ MHPDOV VR JHUHGHW ZLH MHW]W" 'HLQH 5HGHQNOLQJHQMDJDUQLFKWDOVREVLHYRQGLUNlPHQ+lWWHLFK QLFKW VR HWZDV EHU GLFK JHK|UW VR ZUGH LFK QLFKW ]X GLU JHNRPPHQVHLQQRFKGD]XLQGHQ3DUNXP0LWWHUQDFKW©ª,FK YHUVWHKHGLFKDEVROXWQLFKW3DUIHQ6HPMRQ\WVFK©ª6LHKDWPLU
GDVVFKRQYRUOlQJHUHU=HLWYRQGLUJHVDJWXQGYRUKLQKDEHLFK HV PLW HLJHQHQ $XJHQ JHVHKHQ DOV GX PLW GHU DQGHUQ EHL GHU 0XVLN VDHVW 6LH KDW PLU JHVFKZRUHQ JHVWHUQ XQG KHXWH KDW VLH PLU JHVFKZRUHQ GD GX LQ $JODMD -HSDQWVFKLQD ZLH HLQ .DWHU YHUOLHEW VHLVW 0LU LVW GDV JDQ] JOHLFKJOWLJ )UVW GDV JHKW PLFK QLFKWV DQ ZHQQ GX VLH DXFK QLFKW PHKU OLHEVW VR OLHEW GRFK VLH GLFK QRFK LPPHU 'X ZHLW MD GD VLH DXV GLU XQGMHQHUDQGHUQXQWHUDOOHQ8PVWlQGHQHLQ3DDUPDFKHQZLOO GDVKDWVLHVLFKQXQHLQPDOLQGHQ.RSIJHVHW]WKHEH6LHVDJW ]X PLU ¾6RQVW KHLUDWH LFK GLFK QLFKW ZHQQ GLH EHLGHQ ]XP 7UDXDOWDU JHKHQ GDQQ ZROOHQ ZLU HV DXFK WXQ½ :DV GDV ]X EHGHXWHQKDWKDEHLFKQLHEHJULIIHQXQGEHJUHLIHLFKDXFKMHW]W QLFKWHQWZHGHUOLHEWVLHGLFKJUHQ]HQORVRGHUZHQQVLHGLFK OLHEW ZLH NDQQ VLH GDQQ ZQVFKHQ GD GX HLQH DQGHUH KHLUDWHVW"6LHVDJW¾,FKZLOOLKQJOFNOLFKVHKHQ½DOVROLHEWVLH GLFK© ª,FK KDEH GLU JHVDJW XQG JHVFKULHEHQ GD VLH QLFKW EHL6LQQHQLVW©VDJWHGHU)UVWGHU5RJRVKLQPLWLQQHUHU4XDO DQJHK|UWKDWWH ª*RWW PDJ¶V ZLVVHQ 9LHOOHLFKW LUUVW GX GLFK DXFK hEULJHQVKDWVLHKHXWH DOV LFK VLH YRQ GHU 0XVLN QDFK +DXVH EUDFKWHXQVHUQ+RFK]HLWVWDJEHVWLPPW¾,QGUHL:RFKHQ½VDJW VLH ¾YLHOOHLFKW DXFK VFKRQ IUKHU ZROOHQ ZLU XQV EHVWLPPW WUDXHQODVVHQ½6LHKDWHVJHVFKZRUHQKDWGDV+HLOLJHQELOGYRQ GHU :DQG JHQRPPHQ XQG JHNW $OVR KlQJW GLH 6DFKH MHW]W YRQGLUDE)UVWKHKH©ª'DVLVWODXWHULUUHV*HUHGH'DVZDV GXGDYRQPLUVDJVWNDQQQLHJHVFKHKHQ,FKZHUGHPRUJHQ]X HXFK NRPPHQ © ª:LH VROO VLH GHQQ JHLVWHVNUDQN VHLQ"© EHPHUNWH5RJRVKLQª$OOHQDQGHUQVFKHLQWVLHEHL9HUVWDQG]X VHLQ XQG QXU GX KlOWVW VLH IU YHUUFNW :LH N|QQWH VLH GHQQ %ULHIH GRUWKLQ VFKUHLEHQ" :HQQ VLH JHLVWHVNUDQN ZlUH GDQQ ZUGH HV GRFK DXFK GRUW DQ GHQ %ULHIHQ JHPHUNW ZHUGHQ© ª:DV IU %ULHIH"© IUDJWH GHU )UVW HUVFKURFNHQ ª6LH VFKUHLEW GRUWKLQDQMHQHXQGGLHOLHVWHV:HLWGXGDVGHQQQLFKW"1D GDQQ ZLUVW GX HV VFKRQ QRFK HUIDKUHQ VLH ZLUG GLU GLH %ULHIH
VFKRQ VHOEVW ]HLJHQ© ª'DV NDQQ LFK QLFKW JODXEHQ© ULHI GHU )UVW ª2 ZHK 'X /HZ 1LNRODMLWVFK KDVW ZLH LFK VHKH DXI GLHVHP*HELHWQRFKQLFKWYLHO(UIDKUXQJVRQGHUQELVWQRFKHLQ $QIlQJHU :DUWH QXU HLQ ELFKHQ GX ZLUVW GLU GHLQH HLJHQH 3ROL]HL KDOWHQ XQG VHOEVW 7DJ XQG 1DFKW DXI GHP 3RVWHQ VHLQ XQGMHGHQ6FKULWWYRQGRUWLQ(UIDKUXQJEULQJHQZHQQGXQXU HUVW © ª/D GDV XQG UHGH QLH ZLHGHU GDYRQ© ULHI GHU )UVW ª+|UH 3DUIHQ LFK ELQ KLHU VRHEHQ EHYRU GX NDPVW XPKHUJHJDQJHQ XQG ILQJ DXI HLQPDO DQ ]X ODFKHQ ZRUEHU ZHL LFK VHOEVW QLFKW DEHU GHU lXHUH $QOD ZDU GD PLU HLQILHO GD JHUDGH PRUJHQ PHLQ *HEXUWVWDJ LVW -HW]W LVW HV EDOG ]Z|OI 8KU .RPP PLW ZLU ZROOHQ GHQ 7DJ ]XVDPPHQ EHJUHQ ,FK KDEH :HLQ ]X +DXVH GHQ ZROOHQ ZLU WULQNHQ ZQVFKHGXPLUGDVZDVLFKPLUVHOEVWMHW]WQLFKW]XZQVFKHQ ZHL LFK OHJH :HUW GDUDXI GD JHUDGH GX HV PLU ZQVFKVW XQG LFK ZHUGH GLU ZQVFKHQ GD GX YROONRPPHQ JOFNOLFK ZLUVW6RQVWPXWGXPLUGDV.UHX]]XUFNJHEHQ'XKDVWPLU GDV .UHX] GDPDOV GRFK QLFKW DP QlFKVWHQ 7DJ ]XUFNJHVFKLFNW'XWUlJVWHVGRFKQRFK"7UlJVWGXHVDXFKLQ GLHVHP$XJHQEOLFN"© ª-DLFKWUDJH HV©DQWZRUWHWH 5RJRVKLQ ª1XQ GDQQ ZROOHQ ZLUJHKHQ,FKZLOOPHLQQHXHV/HEHQQLFKWRKQHGLFKDQWUHWHQ GHQQ HV KDW DOOHUGLQJV HLQ QHXHV /HEHQ IU PLFK EHJRQQHQ :HLWGXHVQLFKW3DUIHQGDKHXWHIUPLFKHLQQHXHV/HEHQ EHJRQQHQKDW"©ª-HW]WVHKHLFKVHOEVWXQGZHLVHOEVWGDGDV GHU )DOO LVW LFK ZHUGH HV DXFK LKU EHULFKWHQ 'X ELVW MD JDQ] DXHUGLU/HZ1LNRODMLWVFK©
,9 0LW JURHP 9HUJQJHQ EHPHUNWH GHU )UVW DOV HU VLFK PLW 5RJRVKLQ VHLQHP /DQGKDXVH QlKHUWH GD LQ VHLQHU KHOO HUOHXFKWHWHQ 9HUDQGD HLQH ]DKOUHLFKH OlUPHQGH *HVHOOVFKDIW YHUVDPPHOW ZDU (V ZXUGH OXVWLJ JHODFKW XQG JHUHGHW DQVFKHLQHQGVRJDUXQWHU*HVFKUHLGHEDWWLHUWPDQHUNDQQWHDXI GHQ HUVWHQ %OLFN GD GLHVH /HXWH GLH =HLW K|FKVW KHLWHU YHUEUDFKWHQ 8QG ZLUNOLFK VDK HU DOV HU ]XU 9HUDQGD KLQDXIJHVWLHJHQ ZDU GD DOOH WUDQNHQ XQG ]ZDU &KDPSDJQHU WUDQNHQ XQG GLHV ZLH HV VFKLHQ VFKRQ ]LHPOLFK ODQJH JHWDQ KDWWHQ VR GD YLHOH GHU =HFKHQGHQ VLFK EHUHLWV LQ HLQHP VHKU DQJHQHKPHQ DQJHUHJWHQ =XVWDQG EHIDQGHQ 'LH *lVWH ZDUHQ ODXWHU%HNDQQWHGHV)UVWHQDEHUHVZDUPHUNZUGLJGDVLH VLFK DOOH DXI HLQPDO ZLH DXI HLQH (LQODGXQJ ]XVDPPHQJHIXQGHQ KDWWHQ REZRKO GHU )UVW LQ :LUNOLFKNHLW QLHPDQG HLQJHODGHQ XQG VLFK DQ VHLQHQ *HEXUWVWDJ VHOEVW VRHEHQ QXU ]XIlOOLJ HULQQHUW KDWWH ª'X KDVW JHZL MHPDQG PLWJHWHLOW GD GX &KDPSDJQHU VSHQGLHUVW XQG GD VLQG VLH ]XVDPPHQJHODXIHQ© PXUPHOWH 5RJRVKLQ DOV HU KLQWHU GHP )UVWHQ GLH 9HUDQGD EHWUDW ª'DV NHQQH LFK VROFKHQ /HXWHQ EUDXFKW PDQ QXU ]X SIHLIHQ © IJWH HU LQJULPPLJ KLQ]X RIIHQEDU LQ (ULQQHUXQJ DQ VHLQH HLJHQH QRFK QLFKW ZHLW ]XUFNOLHJHQGH9HUJDQJHQKHLW $OOH EHJUWHQ GHQ )UVWHQ PLW )UHXGHQUXIHQ XQG *OFNZQVFKHQ XQG XPULQJWHQ LKQ 0DQFKH PDFKWHQ GDEHL YLHO /lUP DQGHUH EHQDKPHQ VLFK UXKLJHU DEHU DOOH EHHLOWHQ VLFKLKP]XJUDWXOLHUHQGD VLH YRQ VHLQHP *HEXUWVWDJ JHK|UW KDWWHQ XQG MHGHU ZDUWHWH DXI GHQ $XJHQEOLFN ZR HU DQ GLH 5HLKH NRPPHQ ZUGH 'LH $QZHVHQKHLW PDQFKHU 3HUV|QOLFKNHLWHQ VR ]XP %HLVSLHO %XUGRZVNLMV ZDU GHP )UVWHQ LQWHUHVVDQW DEHU DP HUVWDXQOLFKVWHQ ZDU HV LKP GD VLFKDXFK-HZJHQLM3DZORZLWVFKLQGLHVHU*HVHOOVFKDIWEHIDQG GHU )UVW WUDXWH NDXP VHLQHQ $XJHQ XQG EHNDP EHLQDK HLQHQ
6FKUHFNDOVHULKQHUEOLFNWH 8QWHUGHVVHQNDPDXFK/HEHGHZPLWJHU|WHWHP*HVLFKWXQG VHKUHQWKXVLDVPLHUWKHUEHLJHODXIHQXQGHUNOlUWHGHQ+HUJDQJ HU ZDU VFKRQ LQ KRKHP *UDGH IHUWLJ $XV VHLQHP *HVFKZlW] ZDU ]X HQWQHKPHQ GD DOOH VLFK JDQ] QDWUOLFK MD ]XIlOOLJ ]XVDPPHQJHIXQGHQ KDWWHQ $P IUKHVWHQ YRQ DOOHQ QRFK YRU $EHQGZDU,SSROLWJHNRPPHQXQGKDWWHGDHUVLFKZHLWEHVVHU IKOWHGHQ)UVWHQLQGHU9HUDQGD]XHUZDUWHQ JHZQVFKW(U KDWWH HV VLFK DXI GHP 6RID EHTXHP JHPDFKW GDQQ ZDU /HEHGHZ KLQ]XJHNRPPHQ KLHUDXI GHVVHQ JDQ]H )DPLOLH GDV KHLW *HQHUDO ,ZROJLQ XQG GLH 7|FKWHU %XUGRZVNLM ZDU ]XJOHLFK PLW ,SSROLW DQJHNRPPHQ GHQ HU KHUEHJOHLWHW KDWWH *DQMD XQG 3WL]\Q ZDUHQ HUVW YRU NXU]HP DOV VLH JHUDGH YRUEHUJLQJHQ HLQJHWUHWHQ LKU (UVFKHLQHQ ILHO PLW GHQ 9RUJlQJHQ LP 9DX[KDOO ]XVDPPHQ GDUDXI ZDU .HOOHU HUVFKLHQHQKDWWHYRQGHP*HEXUWVWDJ0LWWHLOXQJJHPDFKWXQG &KDPSDJQHU YHUODQJW -HZJHQLM 3DZORZLWVFK KDWWH VLFK HUVW YRU HLQHU KDOEHQ 6WXQGH HLQJHIXQGHQ $XI GDV &KDPSDJQHUWULQNHQ XQG GLH 9HUDQVWDOWXQJ HLQHV )HVWHV KDWWH DXFK .ROMD PLW DOOHU (QHUJLH JHGUXQJHQ /HEHGHZ KDWWH EHUHLWZLOOLJ :HLQ DXIJHWUDJHQ ª$EHU YRQ PHLQHP HLJHQHQ YRQPHLQHPHLJHQHQ©EHWHXHUWHHUGHP)UVWHQODOOHQGª$XI PHLQH HLJHQHQ .RVWHQ XP ,KUHQ *HEXUWVWDJ IHVWOLFK ]X EHJHKHQXQG,KQHQ]XJUDWXOLHUHQHVZLUGDXFKHWZDV]XHVVHQ JHEHQ HLQHQ ,PEL PHLQH 7RFKWHU LVW VFKRQ GDEHL GDV ]X EHVRUJHQ $EHU ZHQQ 6LH ZWHQ )UVW EHU ZHOFKHV 7KHPD ZLU JHUDGH GHEDWWLHUHQ (ULQQHUQ 6LH VLFK DQ GLH 6WHOOH LP +DPOHW ¾6HLQ RGHU 1LFKWVHLQ½" 'DV LVW HLQ ]HLWJHPlHV 7KHPD HLQ VHKU ]HLWJHPlHV 7KHPD :LU ZHUIHQ )UDJHQ DXI XQG EHDQWZRUWHQ VLH $XFK +HUU 7HUHQWMHZ LVW LP K|FKVWHQ *UDGH HU LVW JDU QLFKW PGH 9RQ GHP &KDPSDJQHU KDW HU QXUJHQLSSWQXUJHQLSSWGDVNDQQLKPQLFKWVFKDGHQ7UHWHQ 6LHQlKHU )UVWXQGHQWVFKHLGHQ6LH $OOH KDEHQ ZLU QXU DXI 6LHJHZDUWHWXQGDXI,KUHQJOFNOLFKHQ9HUVWDQG©'HU%OLFN
GHV )UVWHQ EHJHJQHWH GHP OLHEHQ IUHXQGOLFKHQ %OLFNH :HUD /HEHGHZDV GLH VLFK HEHQIDOOV HLOLJ EHPKWH GXUFK GHQ 6FKZDUP]XLKPYRU]XGULQJHQ8QWHUhEHUJHKXQJDOOHUDQGHUQ VWUHFNWHHULKU]XHUVWGLH+DQGKLQVLHHUU|WHWHYRU)UHXGHXQG ZQVFKWH LKP GD HU YRQ GLHVHP 7DJH DQ LPPHU JOFNOLFK OHEHQP|JH'DQQOLHIVLHVFKOHXQLJVWLQGLH.FKHZRVLHGHQ ,PELKHUULFKWHWH DEHU DXFKYRUGHU$QNXQIWGHV)UVWHQZDU VLH PHKUPDOV VRZLH VLH VLFK QXU IU HLQ :HLOFKHQ YRQ LKUHU $UEHLWKDWWHORVPDFKHQN|QQHQLQGHU9HUDQGDHUVFKLHQHQXQG KDWWH HLIULJ ]XJHK|UW ZLH GLH DQJHWUXQNHQHQ *lVWH XQDXVJHVHW]W EHU JDQ] DEVWUDNWH XQG LKU JDQ] IHUQOLHJHQGH *HJHQVWlQGH GHEDWWLHUWHQ ,KUH MQJHUH 6FKZHVWHU ZDU PLW RIIHQHP 0XQG LP 1HEHQ]LPPHU DXI HLQHP .RIIHU HLQJHVFKODIHQ GHU .QDEH DEHU /HEHGHZV 6RKQ VWDQG QHEHQ .ROMD XQG ,SSROLW XQG VFKRQ VHLQ EHJHLVWHUWHU *HVLFKWVDXVGUXFN]HLJWHGDHUEHUHLWZDUKLHUQRFKODQJHLQ JHQXUHLFKHP =XK|UHQ DXI HLQHP )OHFN VWHKHQ]XEOHLEHQ VHOEVW]HKQ6WXQGHQKLQWHUHLQDQGHU ª,FKKDEHVSH]LHOODXI6LH JHZDUWHW XQG IUHXH PLFK DXHURUGHQWOLFK GD 6LH LQ VR JOFNOLFKHU 6WLPPXQJ JHNRPPHQ VLQG© VDJWH ,SSROLW DOV GHU )UVWXQPLWWHOEDUQDFK%HJUXQJ:HUDV]XLKPWUDWXPLKP GLH +DQG ]X GUFNHQ ª$EHU ZRKHU ZLVVHQ 6LH GD LFK PLFK ¾LQVRJOFNOLFKHU6WLPPXQJ½EHILQGH"©ª'DVVLHKWPDQ,KQHQ DP *HVLFKW DQ %HJUHQ 6LH GLH +HUUHQ XQG VHW]HQ 6LH VLFK VREDOGZLHP|JOLFKKLHUKHU]XPLU,FK KDEH VSH]LHOO DXI 6LH JHZDUWHW© IJWH HU KLQ]X LQGHP HU HLQHQ EHGHXWVDPHQ 1DFKGUXFN GDUDXI OHJWH GD HU JHZDUWHW KDEH $XI GLH %HPHUNXQJ GHV )UVWHQ RE LKP GDV ODQJH $XIEOHLEHQ DXFK QLFKWVFKlGOLFKVHLQZUGHHUZLGHUWHHUHUZXQGHUHVLFKVHOEVW GDUEHU GD HU YRU GUHL 7DJHQ KDEH VWHUEHQ ZROOHQ HU KDEH VLFKQLHZRKOHUJHIKOWDOVDQGLHVHP$EHQG %XUGRZVNLM VSUDQJ DXI XQG PXUPHOWH HU VHL ªQXU VR© HU KDEH ,SSROLW ªKHUEHJOHLWHW© XQG IUHXH VLFK HEHQIDOOV LQ GHP %ULHI KDEH HU ªDOOHUOHL 8QVLQQ JHVFKULHEHQ© DEHU MHW]W
HPSILQGH HU ªHLQIDFK© )UHXGH (U VSUDFK QLFKW ]X (QGH GUFNWH GHP )UVWHQ NUlIWLJ GLH +DQG XQG VHW]WH VLFK ZLHGHU DXI VHLQHQ 6WXKO 1DFK %HJUXQJ DOOHU DQGHUQ WUDW GHU )UVW DXFK]X-HZJHQLM3DZORZLWVFK'LHVHUIDWHLKQVRJOHLFKXQWHU GHQ $UP ª,FK P|FKWH ,KQHQ QXU HLQ SDDU :RUWH VDJHQ© IOVWHUWH HU LKP ]X ªXQG ]ZDU LQ HLQHU EHUDXV ZLFKWLJHQ $QJHOHJHQKHLW /DVVHQ 6LH XQV HLQHQ $XJHQEOLFN EHLVHLWH WUHWHQ© ª1XU HLQ SDDU :RUWH© IOVWHUWH HLQH DQGHUH 6WLPPH GHP)UVWHQLQGDVDQGHUH2KUXQGHLQHDQGHUH+DQGIDWHLKQ YRQGHUDQGHUHQ6HLWH XQWHU GHQ $UP 'HU )UVW HUEOLFNWH PLW (UVWDXQHQHLQH*HVWDOWPLWJHU|WHWHPEOLQ]HOQGHPODFKHQGHP *HVLFKW XQG ZLUUHP +DDU XQG HUNDQQWH LP JOHLFKHQ $XJHQEOLFN)HUG\VFKWVFKHQNRGHUVLFK*RWWZHLZRKHUKLHU ZLHGHU DQJHIXQGHQ KDWWH ª(ULQQHUQ 6LH VLFK QRFK DQ )HUG\VFKWVFKHQNR"© IUDJWH GLHVHU ª:R NRPPHQ 6LH GHQQ KHU"© ULHI GHU )UVW ª(U EHUHXW© ULHI GHU KHUEHLODXIHQGH .HOOHU ª(U KDWWH VLFK YHUVWHFNW XQG ZROOWH VLFK QLFKW VHKHQ ODVVHQ HU KDWWH VLFK GDKLQWHQ LQ HLQHP :LQNHO YHUVWHFNW HU EHUHXW)UVWHUIKOWVLFKVFKXOGLJ©ª6FKXOGLJ":LHVR"©ª,FK KDEH LKQ JHWURIIHQ )UVW LFK KDEH LKQ YRUKLQ HEHQ JHWURIIHQ XQG PLW KHUJHEUDFKW HU LVW HLQHU PHLQHU EHVWHQ )UHXQGH DEHU HUEHUHXW©ª,FKIUHXHPLFKVHKUPHLQH+HUUHQJHKHQ6LHQXU XQG VHW]HQ 6LH VLFK GRUW ]X GHQ DQGHUQ LFK NRPPH DXFK JOHLFK© VDJWH GHU )UVW LQGHP HU VLFK HQGOLFK ORVPDFKWH XQG ]X -HZJHQLM 3DZORZLWVFK HLOWH ª(V LVW MD KLHU EHL ,KQHQ VHKU DPVDQW©EHPHUNWHGLHVHUªXQGLFKKDEHPLW9HUJQJHQHLQH KDOEH 6WXQGH ODQJ DXI 6LH JHZDUWHW :DV LFK VDJHQ ZROOWH OLHEVWHU /HZ 1LNRODMHZLWVFK LFK KDEH DOOHV PLW .XUP\VFKHZ JHRUGQHWXQGNDPKHUXP6LH]XEHUXKLJHQ6LHEUDXFKHQVLFK QLFKWGDUEHUDXI]XUHJHQHUKDWGLH6DFKHVHKUVHKUYHUQQIWLJ DXIJHIDW ZDV DXFK XP VR QlKHUODJ DOV HU PHLQHU $QVLFKW QDFK VHOEVW GLH PHLVWH 6FKXOG KDWWH© ª0LW ZDV IU HLQHP .XUP\VFKHZ"©ª1XQPLWGHPGHQ6LHYRUKLQDQGHQ$UPHQ JHSDFNWKDEHQ(UZDUVRZWHQGGDHUVFKRQEHDEVLFKWLJWH
PRUJHQ ]X ,KQHQ ]X VFKLFNHQ XQG *HQXJWXXQJ ]X IRUGHUQ© ª,FKELWWH6LHZDVIUHLQ8QVLQQ© ª1DWUOLFKLVWHVHLQ8QVLQQXQGGLH6DFKHZlUHDXFKVLFKHU KDUPORVHUOHGLJWZRUGHQDEHUGLHVH/HXWHVLQGEHLXQVKLHU© ª6LH VLQG YLHOOHLFKW DXFK QRFK ]X HLQHP DQGHUQ =ZHFN KHUJHNRPPHQ -HZJHQLM 3DZO\WVFK"© ª2K QDWUOLFK QRFK ]X HLQHPDQGHUQ=ZHFN©YHUVHW]WHGLHVHUODFKHQGª/LHEHU)UVW LFK IDKUH PRUJHQ EHL 7DJHVDQEUXFK LQ GLHVHU XQJOFNOLFKHQ $QJHOHJHQKHLW QXQ MD LFK PHLQH GLH 6DFKH PLW PHLQHP 2QNHO QDFK3HWHUVEXUJ'HQNHQ6LHVLFKQXUHVLVWDOOHVZDKU XQGDOOH/HXWHZLVVHQGDYRQPHKUDOVLFK0LFKKDWGLH6DFKH VR PLWJHQRPPHQ GD LFK KHXWH QLFKW PHKU GD]X JHNRPPHQ ELQGRUWKLQ]XJHKHQ]X-HSDQWVFKLQV XQGPRUJHQZHUGHLFK HV HEHQIDOOV QLFKW N|QQHQ ZHLO LFK LQ 3HWHUVEXUJ VHLQ ZHUGH 6LH YHUVWHKHQ 9LHOOHLFKW ZHUGH LFK XQJHIlKU GUHL 7DJH YRQ KLHU DEZHVHQG VHLQ ± NXU] JHVDJW PHLQH 6DFKH NRPPW QLFKW YRUDQ2EZRKOHVHLQH6DFKHYRQDOOHUJU|WHU:LFKWLJNHLWLVW KDEH LFK HV GRFK IU GDV ULFKWLJH JHKDOWHQ PLFK ,KQHQ JHJHQEHULQGHURIIHQKHU]LJVWHQ:HLVHXQGXQYHU]JOLFKGDV KHLWQRFKYRUPHLQHU$EUHLVHDXV]XVSUHFKHQ,FKZHUGHMHW]W ZHQQHV ,KQHQUHFKWLVWQRFKHLQ :HLOFKHQ KLHU VLW]HQEOHLEHQ XQG ZDUWHQ ELV GLH *HVHOOVFKDIW DXVHLQDQGHUJHKW EHUGLHV ZWHLFKDXFKQLFKWZDVLFKVRQVWDQIDQJHQVROOWHLFKELQVR DXIJHUHJW GD LFK PLFK JDU QLFKW VFKODIHQ OHJHQ ZHUGH (QGOLFK P|FKWH LFK ,KQHQ QRFK HLQV JHUDGHKHUDXV VDJHQ REZRKOHVJHZLVVHQORVXQGXQVFKLFNOLFKLVWVLFKMHPDQGHPVR JHUDGH]X DXI]XGUlQJHQ VR ELQ LFK GRFK KHUJHNRPPHQ XP ,KUH)UHXQGVFKDIW]XJHZLQQHQPHLQOLHEHU)UVW6LHVLQGHLQ XQYHUJOHLFKOLFKHU 0HQVFK GDV KHLW 6LH OJHQ QLFKW DXI 6FKULWWXQG7ULWWXQGYLHOOHLFKWEHUKDXSWQLFKWXQGLFKEHGDUI LQ HLQHU JHZLVVHQ $QJHOHJHQKHLW HLQHV )UHXQGHV XQG 5DWJHEHUVZHLOLFKMHW]WWDWVlFKOLFKHLQXQJOFNOLFKHU0HQVFK ELQ© (U ODFKWH ZLHGHU DXI ª'DV 6FKOLPPH LVW QXU© VDJWH GHU
)UVW QDFKGHP HU HLQHQ $XJHQEOLFN QDFKJHGDFKW KDWWH ª6LH ZROOHQ ZDUWHQ ELV GLHVH /HXWH DXVHLQDQGHUJHKHQ DEHU ZHL *RWWZDQQGDVJHVFKHKHQZLUG:lUHHVQLFKWGDVEHVWHZHQQ ZLUMHW]WLQGHQ3DUNJLQJHQ"*HZLZHUGHQVLHHLQ:HLOFKHQ ZDUWHQLFKZHUGHPLFKHQWVFKXOGLJHQ© ª1HLQ QHLQ LFK P|FKWH DXV EHVWLPPWHQ *UQGHQ QLFKW GHQ 9HUGDFKWDXINRPPHQODVVHQDOVIKUWHQZLUHLQ*HVSUlFKPLW EHVRQGHUHQ $EVLFKWHQ HV VLQG KLHU /HXWH GDUXQWHU GLH VLFK VHKU IU XQVHUH %H]LHKXQJHQ LQWHUHVVLHUHQ ±ZLVVHQ 6LH GDV QLFKW)UVW"(VZLUGZHLWEHVVHUVHLQZHQQVLHVHKHQGDZLU DXFK RKQHKLQ LQ VHKU IUHXQGVFKDIWOLFKHQ %H]LHKXQJHQ VWHKHQ YRQ DOOHQ 6RQGHUIlOOHQ DEJHVHKHQ YHUVWHKHQ 6LH ZRKO" 6LH ZHUGHQLQHWZD]ZHL6WXQGHQDXVHLQDQGHUJHKHQGDQQP|FKWH LFK6LH]ZDQ]LJ0LQXWHQLQ$QVSUXFKQHKPHQ±QXQRGHUHLQH KDOEH 6WXQGH © ª$EHU LFK ELWWH VHKU PLW 9HUJQJHQ LFK IUHXH PLFK GDUEHU DXFK RKQH DOOH (UNOlUXQJHQ XQG IU ,KUH OLHEHQVZUGLJHQ :RUWH EHU XQVHUH IUHXQGVFKDIWOLFKHQ %H]LHKXQJHQGDQNHLFK,KQHQKHU]OLFK6LHHQWVFKXOGLJHQGD LFK KHXWH ]HUVWUHXW ELQ ZLVVHQ 6LH LFK NDQQ PLFK DXJHQEOLFNOLFK JDU QLFKW ]XU $XIPHUNVDPNHLW ]ZLQJHQ© ª,FK VHKH LFK VHKH© PXUPHOWH -HZJHQLM 3DZORZLWVFK PLW HLQHP OHLVHQ /lFKHOQ (U ZDU DQ GLHVHP $EHQG EHUKDXSW VHKU ]XP /DFKHQ DXIJHOHJW ª:DV VHKHQ 6LH GHQQ"© IUDJWH GHU )UVW HUVFKURFNHQ ª+HJHQ 6LH GHQQ JDU NHLQHQ 9HUGDFKW OLHEHU )UVW© VDJWH -HZJHQLM 3DZORZLWVFK LPPHU QRFK OlFKHOQG RKQHDXIGLHGLUHNWH)UDJH]XDQWZRUWHQ ªKHJHQ6LHGHQQ JDU NHLQHQ 9HUGDFKW GD LFK HLQIDFK KHUJHNRPPHQ ELQ XP 6LH KLQWHUV /LFKW ]X IKUHQ XQG VR QHEHQEHL HWZDV YRQ ,KQHQ KHUDXV]XEHNRPPHQ ZLH"© ª'D 6LH KHUJHNRPPHQ VLQG XP HWZDV YRQ PLU KHUDXV]XEHNRPPHQ GDUDQ LVW NHLQ =ZHLIHO© DQWZRUWHWH GHU )UVW ODFKHQG ªXQG YLHOOHLFKW KDEHQ 6LH VLFK DXFK YRUJHQRPPHQ PLFK HLQ ELFKHQ ]X EHWUJHQ $EHU QXU ]X,FKIUFKWHPLFKYRU,KQHQQLFKWXQGDXHUGHPLVWHVPLU MHW]W JDQ] JOHLFKJOWLJ ZROOHQ 6LH PLU GDV JODXEHQ" 8QG
XQG XQG GD LFK YRU DOOHP EHU]HXJW ELQ GD 6LH WURW]GHP HLQYRUWUHIIOLFKHU0HQVFKVLQGVRZHUGHQZLUP|JOLFKHUZHLVH ZLUNOLFK DP (QGH )UHXQGVFKDIW PLWHLQDQGHU VFKOLHHQ 6LH KDEHQ PLU VHKU JHIDOOHQ -HZJHQLM 3DZO\WVFK 6LH VLQG PHLQHU $QVLFKW QDFK HLQ VHKU DQVWlQGLJHU 0HQVFK© ª1XQ MHGHQIDOOV LVW HV VHKU DQJHQHKP PLW ,KQHQ HWZDV ]X WXQ ]X KDEHQ PDJ HV VHLQ ZDV HV ZLOO© VFKOR -HZJHQLM 3DZORZLWVFK ª.RPPHQ 6LH LFK ZLOO HLQ *ODV DXI ,KUH *HVXQGKHLWWULQNHQLFKELQVHKU]XIULHGHQGDLFKPLFK,KQHQ DXIJHGUlQJWKDEH$K©XQWHUEUDFKHUVLFKSO|W]OLFKª,VWGLHVHU +HUU ,SSROLW YROOVWlQGLJ ]X ,KQHQ EHUJHVLHGHOW"© ª-D© ª,FK PHLQH HU ZLUG QLFKW VR EDOG VWHUEHQ© ª:LHVR PHLQHQ 6LH GDV"©ª,FKGHQNHHVPLUVRLFKKDEHKLHUHLQHKDOEH6WXQGHLQ VHLQHU*HVHOOVFKDIWYHUEUDFKW© ,SSROLWZDUWHWHGLHVH JDQ]H =HLWDXIGHQ)UVWHQXQGEOLFNWH XQXQWHUEURFKHQ QDFK LKP XQG -HZJHQLM 3DZORZLWVFK KLQ ZlKUHQG GLH EHLGHQ DEVHLWV VWDQGHQ XQG PLWHLQDQGHU UHGHWHQ (U ]HLJWH HLQH NUDQNKDIWH /HEKDIWLJNHLW DOV VLH DQ GHQ 7LVFK WUDWHQ(UZDUXQUXKLJXQGDXIJHUHJWGHU6FKZHLWUDWLKPDXI GLH 6WLUQ ,Q VHLQHQ IXQNHOQGHQ $XJHQ NDP DXHU HLQHU GDXHUQGHQ XQVWHWHQ 8QUXKH DXFK HLQH XQEHVWLPPWH 8QJHGXOG ]XP $XVGUXFN VHLQ %OLFN LUUWH ]LHOORV YRQ HLQHP *HJHQVWDQG ]XPDQGHUQYRQHLQHU3HUVRQ]XUDQGHUQ(UKDWWHVLFK]ZDUDQ GHP JHPHLQVDPHQ OlUPHQGHQ *HVSUlFK ELVKHU VWDUN EHWHLOLJW DEHUVHLQ(LIHUKDWWHHWZDV)LHEHUKDIWHVLP*UXQGHVFKHQNWHHU GHP *HVSUlFK ZHQLJ $XIPHUNVDPNHLW ZDV HU LQ GHU 'HEDWWH YRUEUDFKWH ZDU XQ]XVDPPHQKlQJHQG XQG NODQJ VS|WWLVFK JHULQJVFKlW]LJ ZDUI HU SDUDGR[H %HPHUNXQJHQ KLQ HU VSUDFK VHLQH *HGDQNHQ QLFKW ELV ]X (QGH DXV XQG OLH HLQ 7KHPD EHUGDVHUHLQH0LQXWHYRUKHUVHOEVWPLWJOKHQGHP(LIHU]X VSUHFKHQ EHJRQQHQ KDWWH VFKQHOO ZLHGHU IDOOHQ 'HU )UVW HUIXKU PLW 9HUZXQGHUXQJ XQG %HGDXHUQ GD PDQ LKQ DQ GLHVHP $EHQG XQJHKLQGHUW VFKRQ ]ZHL YROOH *OlVHU &KDPSDJQHUKDWWHWULQNHQODVVHQXQGGDGDVYRULKPVWHKHQGH
DQJHIDQJHQH*ODVVFKRQGDVGULWWHZDU$EHUHUHUIXKUGLHVHUVW VSlWHULP$XJHQEOLFNZDUHUQLFKWLPVWDQGHVHLQH8PJHEXQJ JHQDX ]X EHREDFKWHQ ª:LVVHQ 6LH LFK IUHXH PLFK DXHURUGHQWOLFKGDUEHUGDJHUDGHKHXWH,KU*HEXUWVWDJLVW© ULHI ,SSROLW ª:DUXP GHQQ"© ª'DV ZHUGHQ 6LH EDOG VHKHQ VHW]HQ6LHVLFKQXUVFKQHOOKHU(UVWHQVVFKRQGHVZHJHQ ZHLO KLHU DOOH XQVHUH /HXWH ]XVDPPHQJHNRPPHQ VLQG ,FK KDWWH GDPLWJHUHFKQHWGD/HXWHKLHUVHLQZUGHQ]XPHUVWHQPDOLQ PHLQHP /HEHQ KDW VLFK HLQH 5HFKQXQJ YRQ PLU DOV ULFKWLJ HUZLHVHQ $EHU VFKDGH GD LFK YRQ ,KUHP *HEXUWVWDJ QLFKWV JHZXW KDEH VRQVW KlWWH LFK HLQ *HVFKHQN PLWJHEUDFKW +DKD -D YLHOOHLFKW KDEH LFK DEHU ZLUNOLFK HLQV PLWJHEUDFKW 'DXHUW HV QRFK ODQJH ELV HV 7DJ ZLUG"© ª%LV ]XP 0RUJHQJUDXHQ VLQG HV QLFKW PHKU JDQ] ]ZHL 6WXQGHQ© VDJWH 3WL]\Q QDFK HLQHP %OLFN DXI GLH 8KU ª:R]X EUDXFKW HV MHW]W HUVWQRFK7DJ]XZHUGHQZRPDQGUDXHQDXFKRKQHGDVOHVHQ NDQQ"© EHPHUNWH MHPDQG ª'DPLW LFK HLQ 6WFNFKHQ YRQ GHU 6RQQH VHKHQ NDQQ .DQQ PDQ DXI GLH *HVXQGKHLW GHU 6RQQH WULQNHQ)UVW":LHGHQNHQ6LHGDUEHU"© ,SSROLW VWHOOWH VHLQH )UDJHQ LQ VFKDUIHP 7RQ XQG ZHQGHWH VLFK XQJHQLHUW DOV NRPPDQGLHUWH HU DQ DOOH VFKLHQ VLFK DEHU GHVVHQ VHOEVW QLFKW EHZXW ]X VHLQ ª7ULQNHQ ZLU GDUDXI PHLQHWZHJHQ 1XU VROOWHQ 6LH VLFK EHUXKLJHQ ,SSROLW QLFKW"© ª6LH UHGHQ LPPHU YRQ 6FKODIHQ 6LH VLQG PHLQH .LQGHUIUDX )UVW6REDOGGLH6RQQHHUVFKHLQWXQGDP+LPPHOHUW|QWZHU KDW GDV GRFK LQ HLQHP *HGLFKW JHVDJW ¾'LH 6RQQH W|QW QDFK DOWHU:HLVH½"(VLVWVLQQORVDEHUVFK|Q ±GDQQZLOOLFKPLFK VFKODIHQOHJHQ/HEHGHZ'LH6RQQHLVWMDZRKOGLH4XHOOHGHV /HEHQV" :DV EHGHXWHQ GLH ¾4XHOOHQ GHV /HEHQV½ LQ GHU $SRNDO\SVH" 6LH KDEHQ ZRKO YRQ GHP ¾:HUPXWVWHUQ½ JHK|UW )UVW"© ª,FKKDEH JHK|UWGD /HEHGHZGLHVHQ ¾:HUPXWVWHUQ½ IU GDV (LVHQEDKQQHW] KlOW GDV (XURSD EHU]LHKW© ª1HLQ HUODXEHQ6LHGDVLVWQLFKWJHVWDWWHW©VFKULH/HEHGHZLQGHPHU DXIVSUDQJ XQG OHEKDIW PLW GHQ $UPHQ JHVWLNXOLHUWH DOV ZROOWH
HU GDV DOOJHPHLQH *HOlFKWHU GDV VLFK HUKRE KHPPHQ ª(UODXEHQ6LH0LWGLHVHQ+HUUHQDOOGLHVH+HUUHQ©ZDQGWH HUVLFKSO|W]OLFKDQGHQ)UVWHQ ªGDVLVWLQPHKUHUHQ3XQNWHQ JHJHQGLH9HUDEUHGXQJK|UHQ6LHQXU© 8QGHUVFKOXJVHKU XQJH]ZXQJHQ ]ZHLPDO DXI GHQ 7LVFK ZRGXUFK GDV *HOlFKWHU QRFKVWlUNHUZXUGH /HEHGHZ EHIDQG VLFK QLFKW QXU LQ VHLQHP JHZ|KQOLFKHQ ª$EHQG]XVWDQG© VRQGHUQ HV NDP GLHVPDO DXFK QRFK KLQ]X GD HU GXUFK GLH YRUKHUJHKHQGH ODQJH ªJHOHKUWH© 'HEDWWH EHVRQGHUVDXIJHUHJWXQGJHUHL]WZDULQVROFKHQ)lOOHQEHQDKP HU VLFK JHJHQ VHLQH 2SSRQHQWHQ PLW JUHQ]HQORVHU XQG LP K|FKVWHQ*UDGHRIIHQKHU]LJHU*HULQJVFKlW]XQJ ª'DVLVWQLFKWJHVWDWWHW)UVWYRUHLQHUKDOEHQ6WXQGHKDEHQ ZLUHLQH9HUDEUHGXQJJHWURIIHQHVGDUIQLHPDQGXQWHUEURFKHQ ZHUGHQHVGDUIQLFKW JHODFKWZHUGHQVRODQJHMHPDQGVSULFKW HVVROOMHGHUDOOHVIUHLKHUDXVVDJHQGUIHQ 1DFKKHU N|QQHQ MD DXFK GLH $WKHLVWHQ ZHQQ VLH ZROOHQ LKUH (UZLGHUXQJHQ YRUEULQJHQ :LU KDEHQ GHQ *HQHUDO DOV 9RUVLW]HQGHQ HLQJHVHW]W MDZRKO 'HQQ ZLH VROO HV DQGHUV JHKHQ" 0DQ N|QQWH MHGHQ GHU HLQH KRKH ,GHH HLQH WLHIVLQQLJH ,GHH YRUEULQJW NRQIXV PDFKHQ © ª5HGHQ 6LH GRFK UHGHQ 6LH GRFK1LHPDQGZLUG6LHVW|UHQ©ULHIHQPHKUHUH ª5HGHQ6LH DEHU UHGHQ 6LH QLFKW ]XYLHO 8QVLQQ© ª:DV LVW GDV IU HLQ ¾:HUPXWVWHUQ½"© HUNXQGLJWH VLFK MHPDQG ª,FK KDEH NHLQH $KQXQJ©DQWZRUWHWH*HQHUDO,ZROJLQXQGQDKPPLWZLFKWLJHU 0LHQHGHQLKPYRUKLQ]XHUNDQQWHQ3ODW]DOV9RUVLW]HQGHUHLQ ª,FK OLHEH DOO GLHVH JHUHL]WHQ 'HEDWWHQ DXHURUGHQWOLFK )UVW QDWUOLFK QXU 'HEDWWHQ EHU JHOHKUWH 7KHPHQ© PXUPHOWH XQWHUGHVVHQ .HOOHU GHU LQ K|FKVWHU %HJHLVWHUXQJ XQG 8QJHGXOG DXI VHLQHP 6WXKO KLQ XQG KHU UFNWH EHU JHOHKUWH XQG SROLWLVFKH 7KHPHQ© ZDQGWH HU VLFK SO|W]OLFK XQG XQHUZDUWHW DQ -HZJHQLM 3DZORZLWVFK GHU LQ VHLQHU 1lKH VD ª:LVVHQ 6LH LFK OHVH IXUFKWEDU JHUQ LQ GHQ =HLWXQJHQ GLH %HULFKWH EHU GLH 6LW]XQJHQ GHV HQJOLVFKHQ 3DUODPHQWV GDV
KHLWPLFKLQWHUHVVLHUHQGDEHLQLFKWGLH*HJHQVWlQGHEHUGLH VLHEHUDWHQZLVVHQ6LHLFKELQNHLQ3ROLWLNHU VRQGHUQGLH$UW ZLH VLH PLWHLQDQGHU UHGHQ XQG VLFK VR]XVDJHQ ZLH 6WDDWVPlQQHU EHQHKPHQ ¾GHU VHKU HKUHQZHUWH 9LFRPWH GHU PLU JHJHQEHUVLW]W½ ¾GHU VHKU HKUHQZHUWH *UDI GHU PHLQH $QVLFKWWHLOW½¾PHLQVHKUHKUHQZHUWHU*HJQHUGHUGXUFKVHLQHQ $QWUDJ(XURSDLQ(UVWDXQHQYHUVHW]WKDW½GDVKHLWGLHVHJDQ]H $XVGUXFNVZHLVH GLHVHU JDQ]H 3DUODPHQWDULVPXV HLQHV IUHLHQ 9RONHV ± GDV KDW IU XQVHUHLQHQ HWZDV 9HUORFNHQGHV 'DIU EHJHLVWHUWHLFKPLFK)UVW,FKELQLPPHULQWLHIVWHU6HHOHHLQ .QVWOHU JHZHVHQ GDV VFKZ|UH LFK ,KQHQ -HZJHQLM 3DZO\WVFK© ª8QG ZDV LVW QXQ GDV 5HVXOWDW YRQ DOOHGHP"© HUHLIHUWHVLFK*DQMDDQHLQHUDQGHUHQ(FNHGHV7LVFKHVª,KUHU 0HLQXQJ QDFK HUJLEW VLFK GDUDXV GD GLH (LVHQEDKQHQ YHUIOXFKWVLQGGDVLHGDV9HUGHUEHQGHU0HQVFKKHLWVLQGGD VLH HLQH 3HVW VLQG GLH GLH (UGH EHIDOOHQ KDW XP GLH ¾4XHOOHQ GHV/HEHQV½]XWUEHQ"© *DZULOD $UGDOLRQRZLWVFK EHIDQG VLFK ZLH HV GHP )UVWHQ VFKLHQ DQ GLHVHP $EHQG LQ HLQHU EHVRQGHUV DQJHUHJWHQ KHLWHUHQ XQG EHLQDK WULXPSKLHUHQGHQ 6WLPPXQJ 0LW /HEH± GHZWULHEHURIIHQEDU6FKHU]LQGHPHULKQDXIVWDFKHOWHDEHUHU ZXUGHGDEHLEDOGVHOEVWKLW]LJª1LFKWGLH(LVHQEDKQHQQHLQ© YHUVHW]WH /HEHGHZ GHU DXHU VLFK JHULHW XQG ]XJOHLFK HLQHQ PDORVHQ*HQXHPSIDQGª:DVGLH4XHOOHQGHV/HEHQVWUEW GDV VLQG QLFKW VSH]LHOO GLH (LVHQEDKQHQ VRQGHUQ DOO GLHVH YHUGDPPWHQ 'LQJH ]XVDPPHQ VLQG YHUIOXFKW GLHVH JDQ]H 7HQGHQ] GHU OHW]WHQ -DKUKXQGHUWH PLW LKUHQ JHVDPWHQ ZLVVHQVFKDIWOLFKHQ XQG SUDNWLVFKHQ =LHOHQ LVW YLHOOHLFKW WDWVlFKOLFK YHUIOXFKW© ª7DWVlFKOLFK YHUIOXFKW RGHU QXU YLHOOHLFKW YHUIOXFKW" 'DV ]X ZLVVHQ LVW ZLFKWLJ© IUDJWH -HZJHQLM 3DZORZLWVFK ª9HUIOXFKW YHUIOXFKW WDWVlFKOLFK YHUIOXFKW© YHUVLFKHUWH /HEHGHZ KLW]LJ ªhEHUHLOHQ 6LH VLFK QLFKW /HEHGHZ 6LH VLQG PRUJHQV LPPHU YLHO JXWPWLJHU© EHPHUNWH 3WL]\Q OlFKHOQG ª$EHU GDIU ELQ LFK DEHQGV
RIIHQKHU]LJHU $EHQGV ELQ LFK YHUWUDXOLFKHU XQG RIIHQKHU]LJHU© ULHI /HEHGHZ VLFK PLW /HEKDIWLJNHLW ]X LKP ZHQGHQG ª$XIULFKWLJHU XQG EHVWLPPWHU HKUOLFKHU XQG DFKWEDUHU XQG ZHQQ LFK HXFK DXFK DOOHQ GDPLW LQV *HVLFKW VFKODJH GDV LVW PLU JDQ] JOHLFKJOWLJ -HW]W IRUGHUH LFK HXFK DOOHKHUDXV HXFK $WKHLVWHQ DOOH ZRGXUFK ZHUGHW LKU GLH :HOW UHWWHQ XQG ZRGXUFK KDEW LKU IU GLH :HOW GHQ UHFKWHQ :HJ JHIXQGHQ LKU 0lQQHU GHU :LVVHQVFKDIW GHU ,QGXVWULH GHU $VVR]LDWLRQHQ $UEHLWVO|KQH XQG VR ZHLWHU" :RGXUFK" 'XUFK GHQ.UHGLW":DVLVWGDVIUHLQ'LQJGHU.UHGLW":RKLQZLUG HXFK GHU .UHGLW IKUHQ"© ª6LQG 6LH DEHU PDO QHXJLHULJ© EHPHUNWH -HZJHQLM 3DZORZLWVFK ª0HLQHU $QVLFKW QDFK LVW MHGHU GHU VLFK IU VROFKH UHOLJL|VHQ )UDJHQ QLFKW LQWHUHVVLHUW HLQ JHFNHQKDIWHU +RKONRSI© ª$EHU GHU .UHGLW EHZLUNW GRFK GLH DOOJHPHLQH 6ROLGDULWlW XQG GDV *OHLFKJHZLFKW GHU ,QWHUHVVHQ©EHPHUNWH3WL]\Qª:HLWHUDEHUDXFKQLFKWVZHLWHU QLFKWV9RQLUJHQGZHOFKHUVLWWOLFKHQ*UXQGODJHLVWGDEHLQLFKW GLH5HGHVRQGHUQQXUYRQHLQHU%HIULHGLJXQJGHVSHUV|QOLFKHQ (JRLVPXV XQG GHV PDWHULHOOHQ %HGUIQLVVHV 'HU DOOJHPHLQH )ULHGHGDVDOOJHPHLQH*OFNVROOWHGXUFKGLH%HIULHGLJXQJGHV %HGUIQLVVHV KHUEHLJHIKUW ZHUGHQ" :HQQ LFK PLU GLH )UDJH HUODXEHQ GDUI YHUVWHKH LFK 6LH GD DXFK UHFKW PHLQ +HUU"© ª$EHU HV LVW GRFK HLQ DOOJHPHLQHV %HGUIQLV ]X OHEHQ ]X HVVHQ XQG ]X WULQNHQ XQG GLH ZLVVHQVFKDIWOLFK Y|OOLJ IHVWVWHKHQGH hEHU]HXJXQJ GD GLHVHV %HGUIQLV QXU GXUFK HLQHQ DOOJHPHLQHQ =XVDPPHQVFKOX XQG HLQH 6ROLGDULWlW GHU ,QWHUHVVHQ EHIULHGLJW ZHUGHQ NDQQ LVW ZLH PLU VFKHLQW HLQ *HGDQNH YRQ KLQUHLFKHQGHU .UDIW XP DOV 6WW]SXQNW XQG ¾4XHOOHGHV/HEHQV½IUNQIWLJH-DKUKXQGHUWHGHU0HQVFKKHLW ]X GLHQHQ© EHPHUNWH *DQMD GHU MHW]W HUQVWOLFK HUUHJW ZXUGH ª'DV%HGUIQLV]XHVVHQXQG]XWULQNHQGDVKHLWDOVRQXUGHU 6HOEVWHUKDOWXQJVWULHE © ª*HQJW HWZD GHU EORH 6HOEVWHUKDOWXQJVWULHEQLFKW"'HU6HOEVWHUKDOWXQJVWULHELVWGRFK GDV)XQGDPHQWDOJHVHW]GHU0HQVFKKHLW©ª:HUKDW,KQHQGDV
JHVDJW"© ULHI DXI HLQPDO -HZJHQLM 3DZORZLWVFK ª'D HU HLQ *HVHW] LVW GDV LVW ULFKWLJ DEHU IXQGDPHQWDO LVW GLHVHV *HVHW] QLFKW PHKU DOV GDV *HVHW] GHV 9HUQLFKWXQJVWULHEHV XQG YLHOOHLFKW DXFK GHV 6HOEVWYHUQLFKWXQJVWULHEHV %HVWHKW GHQQ HWZDGDVJDQ]H)XQGDPHQWDOJHVHW]GHU0HQVFKKHLWHLQ]LJXQG DOOHLQ LP 6HOEVWHUKDOWXQJVWULHE"© ª$K© ULHI ,SSROLW LQGHP HU VLFK VFKQHOO ]X -HZJHQLM 3DZORZLWVFK KLQZDQGWH XQG LKQ PLW VFKHXHU1HXJLHUEHWUDFKWHWHDEHUDOVHUVDKGDGLHVHUODFKWH ODFKWH HU HEHQIDOOV VWLH GHQ QHEHQ LKP VWHKHQGHQ .ROMD DQ XQG IUDJWH LKQ ZLHGHU ZLH VSlW HV VHL MD HU ]RJ VRJDU .ROMDV VLOEHUQH 7DVFKHQXKU VHOEVW ]X VLFK KHUDQ XQG EOLFNWH HLIULJ QDFK GHQ =HLJHUQ 'DQQ VWUHFNWH HU VLFK DOV KlWWH HU DOOHV YHUJHVVHQDXIGHP6RIDDXVOHJWHGLH+lQGHKLQWHUGHQ.RSI XQGVDKQDFKGHU'HFNHDEHUHLQHKDOEH0LQXWHGDUDXIVDHU VFKRQ ZLHGHU DXIUHFKW DP 7LVFK XQG K|UWH GDV *HVFKZlW] /HEH±GHZV PLW DQ GHU LP K|FKVWHQ *UDGH KLW]LJ JHZRUGHQ ZDU ª'DV LVW HLQ KHLPWFNLVFKHU VS|WWLVFKHU DXIVWDFKHOQGHU *HGDQNH© HUZLGHUWH /HEHGHZ HLIULJ DXI -HZJHQLM 3DZORZLWVFKV SDUDGR[H %HKDXSWXQJ ª(LQ *HGDQNH GHQ 6LH QXU PLW GHU $EVLFKW DXVJHVSURFKHQ KDEHQ GLH *HJQHU ]XP .DPSI DXI]XKHW]HQ ± DEHU HLQ ULFKWLJHU *HGDQNH 'HQQ 6LH DOV ZHOWOLFK JHVLQQWHU 6S|WWHU XQG .DYDOOHULVW REZRKO 6LH QLFKW RKQH )lKLJNHLWHQ VLQG ZLVVHQ VHOEVW QLFKW HLQ ZLH WLHIVLQQLJHU ZDKUHU *HGDQNH ,KU *HGDQNH LVW -DZRKO 'DV *HVHW] GHU 6HOEVWYHUQLFKWXQJ XQG GDV *HVHW] GHU 6HOEVWHUKDOWXQJVLQGLQGHU0HQVFKKHLWJOHLFKVWDUN:LH*RWW VREHKHUUVFKWLQJOHLFKHU:HLVHGHU7HXIHOGLH0HQVFKKHLWELV ]X HLQHP XQV QRFK XQEHNDQQWHQ =HLWSXQNW 6LH ODFKHQ" 6LH JODXEHQQLFKWDQGHQ7HXIHO"'HU 8QJODXEH DQ GHQ 7HXIHO LVW HLQIUDQ]|VLVFKHU*HGDQNHHLQOHLFKWIHUWLJHU*HGDQNH:LVVHQ 6LH ZHU GHU 7HXIHO LVW" .HQQHQ 6LH VHLQHQ 1DPHQ" 8QG REJOHLFK 6LH QLFKW HLQPDO VHLQHQ 1DPHQ NHQQHQ ODFKHQ 6LH QDFK 9ROWDLUHV 9RUELOG EHU VHLQH *HVWDOW EHU VHLQH +XIH VHLQHQ6FKZDQ]XQGVHLQH+|UQHUGLH6LHGRFKVHOEVWHUIXQGHQ
KDEHQ GHQQ GHU E|VH *HLVW LVW HLQ JURHU IXUFKWEDUHU *HLVW XQG KDW NHLQH +XIH XQG +|UQHU GLH 6LH LKP DQGLFKWHQ $EHU GDUXPKDQGHOWHVVLFKMHW]WQLFKW© ª:RKHUZLVVHQ6LHGD HV VLFK MHW]W QLFKW XP LKQ KDQGHOW"© ULHI ,SSROLW SO|W]OLFK XQG ODFKWH ZLH LQ HLQHP NUDPSIKDIWHQ $QIDOO ª'DV LVW HLQ JHVFKLFNWHU*HGDQNHGHUHLQHIHLQH$QGHXWXQJHQWKlOW©OREWH /HEHGHZª$EHUGHQQRFKKDQGHOWHVVLFKQLFKWGDUXPVRQGHUQ ZLUEHVFKlIWLJHQXQVPLWGHU)UDJHREQLFKWGLH ¾4XHOOHQ GHV /HEHQV½ DEQHKPHQ LQIROJH GHV (UVWDUNHQV © ª'HU (LVHQEDKQHQ"© ULHI .ROMD ª1LFKW GHU (LVHQEDKQYHUELQGXQJHQ 6LH MXQJHU +LW]NRSI VRQGHUQ MHQHU JDQ]HQ 5LFKWXQJ IU GLH GLH (LVHQEDKQHQ VR]XVDJHQ DOV ,OOXVWUDWLRQ DOV NQVWOHULVFKHU $XVGUXFN GLHQHQ N|QQHQ 0DQ HLOW XQG OlUPW XQG SRFKW XQG KDVWHW ZLH PDQ VDJW XP GLH 0HQVFKKHLWJOFNOLFK]XPDFKHQ¾(VZLUGJDU]XJHUlXVFKYROO XQG JHVFKlIWLJ LQ GHU 0HQVFKKHLW HV JLEW ]XZHQLJ JHLVWLJH 5XKH½ NODJW HLQ 'HQNHU GHU VLFK LQ GLH (LQVDPNHLW ]XUFNJH]RJHQ KDW ¾'DV PDJ VHLQ DEHU GDV 5DVVHOQ GHU :DJHQ GLH GHU KXQJULJHQ 0HQVFKKHLW %URW ]XIKUHQ LVW YLHOOHLFKW QRFK EHVVHU DOV GLH JHLVWLJH 5XKH½ HUZLGHUW LKP VLHJHVJHZL HLQ DQGHUHU 'HQNHU HLQHU GHU EHUDOO JHVFKlIWLJ XPKHUUHLVWXQGHQWIHUQWVLFKHLWHOXQGVHOEVWJHIlOOLJ$EHULFK GHUVFKlQGOLFKH /HEHGHZ JODXEHQLFKWDQGLH:DJHQGLH GHU 0HQVFKKHLW %URW ]XIKUHQ 'HQQ GLH :DJHQ GLH GHU JDQ]HQ 0HQVFKKHLW %URW ]XIKUHQ VROOHQ N|QQHQ ZHQQ HV LKQHQ DQ GHU VLWWOLFKHQ *UXQGODJH IU LKU +DQGHOQ IHKOW DXFK JDQ] NDOWEOWLJ HLQHQ EHWUlFKWOLFKHQ 7HLO GHU 0HQVFKKHLW YRQ GHP *HQX GHV ]XJHIKUWHQ %URWHV DXVVFKOLHHQ ZDV DXFK VFKRQ GDJHZHVHQ LVW © ª'LH :DJHQ N|QQHQ JDQ] NDOWEOWLJ DXVVFKOLHHQ"© IUDJWH MHPDQG ª:DV DXFK VFKRQ GDJHZHVHQ LVW© ZLHGHUKROWH /HEHGHZ RKQH GHU )UDJH LUJHQGZHOFKH %HDFKWXQJ]XVFKHQNHQª(VKDWVFKRQHLQHQ0HQVFKHQIUHXQG ZLH 0DOWKXV JHJHEHQ $EHU HLQ 0HQVFKHQIUHXQG PLW VFKZDQNHQGHU VLWWOLFKHU *UXQGODJH ZLUG ]X HLQHP
0HQVFKHQIUHVVHUJDUQLFKW]XUHGHQYRQVHLQHU(LWHONHLWGHQQ PDQ YHUOHW]H GLH (LWHONHLW LUJHQGHLQHV GLHVHU ]DKOORVHQ 0HQVFKHQIUHXQGH XQG HU ZLUG VRIRUW EHUHLW VHLQ DXV NOHLQOLFKHU 5DFKVXFKW GLH :HOW DQ DOOHQ YLHU (QGHQ DQ]X]QGHQ ± EULJHQV XP GLH :DKUKHLW ]X VDJHQ JHQDXVR ZLHMHGHUYRQXQVXQGDXFKLFKGHU6FKlQGOLFKVWHYRQDOOHQHV WXQ ZUGH GHQQ LFK ZUGH YLHOOHLFKW GHU HUVWH VHLQ GHU +RO] KHUEHLWUlJW XQG VHOEVW GDYRQOlXIW $EHU GDUXP KDQGHOW HV VLFK MHW]WQLFKW©ª$EHUXPZDVKDQGHOWHVVLFKGHQQVFKOLHOLFK"© ª/DQJZHLOLJHV *HUHGH© ª(V KDQGHOW VLFK XP GDV IROJHQGH *HVFKLFKWFKHQDXVIUKHUHQ-DKUKXQGHUWHQGHQQLFKVHKHPLFK JHQ|WLJW HLQ *HVFKLFKWFKHQ DXV IUKHUHQ -DKUKXQGHUWHQ ]X HU]lKOHQ ,Q XQVHUHU =HLW ZLUG LQ XQVHUHP 9DWHUODQG GDV 6LH PHLQH +HUUHQ ZLH LFK KRIIH HEHQVR OLHEHQ ZLH LFK GHQQ LFK PHLQHUVHLWV ELQ EHUHLW VRJDU DOO PHLQ %OXW GDIU ]X YHUJLHHQ ©ª:HLWHU:HLWHU©ª,QXQVHUHP9DWHUODQGZLUGHEHQVRZLH LP EULJHQ (XURSD GLH 0HQVFKKHLW YRQ DOOJHPHLQHQ ZHLWH /DQGVWUHFNHQ XPIDVVHQGHQ +XQJHUVQ|WHQ KHLPJHVXFKW XQG ]ZDU VRZHLW VLFK GDV EHUHFKQHQ OlW XQG LFK PLFK HULQQHUQ NDQQMHW]WQLFKWKlXILJHUDOVHLQPDOLP9LHUWHOMDKUKXQGHUWPLW DQGHUHQ :RUWHQ HLQPDO DOOH IQIXQG]ZDQ]LJ -DKUH hEHU GLH JHQDXH=LIIHUZLOOLFKPLFKLQNHLQHQ6WUHLWHLQODVVHQDEHUHV NRPPW YHUKlOWQLVPlLJ VHOWHQ YRU© ª,P 9HUKlOWQLV ZR]X"© ª,P 9HUKlOWQLV ]XP ]Z|OIWHQ -DKUKXQGHUW XQG GHQ EHLGHUVHLWV DQVFKOLHHQGHQ 'HQQ GDPDOV VXFKWHQ ZLH GLH 6FKULIWVWHOOHU EHULFKWHQ XQG YHUVLFKHUQ DOOJHPHLQH +XQJHUVQ|WH GLH 0HQVFKKHLW DOOH ]ZHL -DKUH RGHU ZHQLJVWHQV DOOH GUHL -DKUH HLQPDO KHLP VR GD EHL HLQHU VROFKHQ /DJH GHU 'LQJH GLH 0HQVFKHQ VRJDU ]XP .DQQLEDOLVPXV LKUH =XIOXFKW QDKPHQ ZHQQ DXFK QXU LP JHKHLPHQ (LQHU GLHVHU hEHOWlWHU HUNOlUWH DOV HU ]X K|KHUHP $OWHU JHODQJW ZDU DXV IUHLHQ 6WFNHQ XQG RKQHMHGHQ=ZDQJHUKDEHLP/DXIHVHLQHVODQJHQlUPOLFKHQ /HEHQV SHUV|QOLFK LQ DOOHU +HLPOLFKNHLW VHFK]LJ 0|QFKH XPJHEUDFKW XQG DXIJHJHVVHQ GD]X QRFK HLQLJH /DLHQNLQGHU
YLHOOHLFKW VHFKV 6WFN DEHU QLFKW PHKU GDV KHLW DXHURUGHQWOLFKZHQLJHLP9HUJOHLFK]XGHU=DKOGHUYRQLKP YHU]HKUWHQ*HLVWOLFKHQ$QHUZDFKVHQH/DLHQKDWWHHUZLHVLFK KHUDXVVWHOOWHVLFKQLH]XGLHVHP =ZHFN KHUDQJHPDFKW© ª'DV LVW XQP|JOLFK© ULHI GHU GHQ 9RUVLW] IKUHQGH *HQHUDO VHOEVW LQ HLQHP 7RQ DOV IKOWH HU VLFK SHUV|QOLFK EHOHLGLJW ª,FK GLVNXWLHUH XQG GHEDWWLHUH KlXILJ PLW LKP PHLQH +HUUHQ XQG LPPHU EHU lKQOLFKH 7KHPHQ DEHU PHLVWHQV EULQJW HU VR DEVXUGHV XQJODXEOLFKHV =HXJ YRU GD HLQHP RUGHQWOLFK GLH 2KUHQ GDYRQ ZHK WXQ© ª*HQHUDO 'HQN DQ GLH %HODJHUXQJ YRQ .DUV XQG 6LH PHLQH +HUUHQ P|JHQ ZLVVHQ GD PHLQ *HVFKLFKWFKHQGLHUHLQH:DKUKHLWLVW0HLQHUVHLWVEHPHUNHLFK GD IDVW MHGHV WDWVlFKOLFKH (UHLJQLV ZHQQ HV DXFK DXI XQDElQGHUOLFKHQ *HVHW]HQ EHUXKW GRFK HWZDV 8QZDKUVFKHLQOLFKHVDQVLFKKDW8QGMHWDWVlFKOLFKHUHVLVWXP VRXQZDKUVFKHLQOLFKHUNRPPWHVHLQHPPDQFKPDOYRU©ª$EHU LVW HV GHQQ P|JOLFK VHFK]LJ 0|QFKH DXI]XHVVHQ"© ULHI PDQ ULQJVXP XQWHU /DFKHQ ª(U KDW VLH MD GRFK RIIHQEDU QLFKW DXI HLQPDO JHJHVVHQ VRQGHUQ YLHOOHLFKW LP /DXIH YRQ IQI]HKQ RGHU]ZDQ]LJ-DKUHQXQGGDQQHUVFKHLQWGLH6DFKHVFKRQJDQ] YHUVWlQGOLFK XQG QDWUOLFK © ª8QG QDWUOLFK"© ª8QG QDWUOLFK© ZLHGHUKROWH /HEHGHZ ELVVLJ PLW SHGDQWLVFKHU +DUWQlFNLJNHLWhEHUGLHVLVWHLQNDWKROLVFKHU0|QFKVFKRQYRQ 1DWXU]XWUDXOLFKXQGQHXJLHULJXQGOlWVLFKOHLFKWLQGHQ:DOG RGHUDQVRQVWHLQHQHLQVDPHQ2UWORFNHQZRPDQGDQQLQGHU JHVFKLOGHUWHQ:HLVHPLWLKPYHUIlKUW±DEHUWURW]GHPZLOOLFK QLFKW EHVWUHLWHQ GD GLH $Q]DKO GHU DXIJHJHVVHQHQ 3HUVRQHQ VHKU JUR HUVFKHLQW XQG VRJDU DXI 8QPlLJNHLW KLQZHLVW© ª9LHOOHLFKW LVW GLH *HVFKLFKWH GRFK ZDKU PHLQH +HUUHQ© EHPHUNWHDXIHLQPDOGHU)UVW %LVKHU KDWWH HU GHQ 6WUHLWHQGHQ VFKZHLJHQG ]XJHK|UW XQG VLFK QLFKW LQ GDV *HVSUlFK JHPLVFKW RIW KDWWH HU EHL GHQ DOOJHPHLQHQ $XVEUFKHQ YRQ +HLWHUNHLW KHU]OLFK PLWJHODFKW 0DQ NRQQWH LKP DQPHUNHQ GD HU VLFK VHKU GDUEHU IUHXWH
GD HV VR OXVWLJ XQG OlUPHQG ]XJLQJ XQG VRJDU GDUEHU GD VLH VRYLHO WUDQNHQ 9LHOOHLFKW KlWWH HU GHQ JDQ]HQ $EHQG EHU NHLQ :RUW JHVDJW DEHU HV NDP LKQ DXI HLQPDO GLH /XVW DQ ]X UHGHQ 8QG ]ZDU UHGHWH HU PLW JURHP (UQVW VR GD DOOH VLFK DXI HLQPDO QHXJLHULJ ]X LKP ZDQGWHQ ª,FK P|FKWH VSH]LHOO GDUEHU HLQ :RUW VDJHQ PHLQH +HUUHQ GD GDPDOV VR KlXILJ +XQJHUVQ|WH YRUNDPHQ 'DYRQ KDEH DXFK LFK JHK|UW REZRKO LFK LQ GHU *HVFKLFKWH QXU VFKOHFKW EHZDQGHUW ELQ $EHU HV VFKHLQW GD HV JDU QLFKW DQGHUV VHLQ NRQQWH $OV LFK LQ GLH 6FKZHL]HU %HUJH YHUVFKODJHQ ZDU VWDXQWH LFK VHKU EHU GLH 5XLQHQ GHU DOWHQ 5LWWHUEXUJHQ GLH DQ GHQ %HUJDEKlQJHQ DXI VWHLOHQ )HOVHQ JHEDXW VLQG LQ HLQHU )DOOK|KH YRQ PLQGHVWHQV HLQHUKDOEHQ :HUVW GDV EHGHXWHW HLQHQ PHKUHUH :HUVW ODQJHQ $QVWLHJ DXI GHQ 6DXPSIDGHQ (V LVW MD EHNDQQW ZDV HLQH VROFKH%XUJLVWHLQJDQ]HU%HUJYRQ6WHLQHQ(LQHIXUFKWEDUH XQJODXEOLFKH $UEHLW 8QG DOO GLHVH %XUJHQ PXWHQ GLH DUPHQ 0HQVFKHQGLH9DVDOOHQEDXHQ$XHUGHPPXWHQVLHDOOHUOHL $EJDEHQ]DKOHQXQGGLH*HLVWOLFKNHLWXQWHUKDOWHQ:LHVROOWHQ VLH GD GLH (UGH EHDUEHLWHQ XQG VLFK HUQlKUHQ (V JDE GDPDOV YRQ LKQHQ QXU ZHQLJH ZDKUVFKHLQOLFK YHUKXQJHUWHQ VLH PDVVHQKDIWXQGHVZDUZRKOEXFKVWlEOLFKQLFKWV]XHVVHQGD ,FK GDFKWH PDQFKPDO VRJDU ZLH LVW HV QXU ]XJHJDQJHQ GD GLHVHP9RONGDPDOVQLFKWHWZDVJDQ]6FKUHFNOLFKHVZLGHUIXKU GD HV QLFKW JDQ] YRQ GHU (UGH YHUVFKZDQG VRQGHUQ ZHLWHUEHVWDQG XQG GDV DOOHV HUWUXJ" 'D HV 0HQVFKHQIUHVVHU JDEXQGYLHOOHLFKWVHKUYLHOHGDULQKDW/HEHGHZRKQH=ZHLIHO UHFKWQXUZHLLFKQLFKWZDUXPHUGDEHLJHUDGHYRQ0|QFKHQ VSUDFK XQG ZDV HU GDPLW VDJHQ ZLOO© ª(U PHLQW JHZL GD PDQ LP ]Z|OIWHQ -DKUKXQGHUW QXU 0|QFKH HVVHQ NRQQWH ZHLO QXU GLH 0|QFKH GDPDOV IHWW ZDUHQ© EHPHUNWH *DZULOD $UGDOLRQRZLWVFK ª(LQ JDQ] SUlFKWLJHU VHKU ULFKWLJHU *HGDQNH©ULHI/HEHGHZª'HQQ/DLHQKDWWHHUEHUKDXSWQLFKW DQJHUKUW 1LFKW HLQHQ HLQ]LJHQ /DLHQ DXI VHFK]LJ *HLVWOLFKH GDVLVWHLQIXUFKWEDUHU*HGDQNHHLQ*HGDQNHYRQ:HUWIUGLH
:HOWJHVFKLFKWH XQG IU GLH 6WDWLVWLN DXV VROFKHQ 7DWVDFKHQ EDXW HLQ HLQVLFKWLJHU 0DQQ GLH :HOWJHVFKLFKWH DXI GHQQ HV IROJW GDUDXV PLW ]DKOHQPlLJHU *HQDXLJNHLW GD GLH *HLVWOLFKNHLWPLQGHVWHQVVHFK]LJPDOVRJOFNOLFKXQGIUHLOHEWH ZLHGLHJDQ]HEULJHGDPDOLJH0HQVFKKHLW8QGYLHOOHLFKWZDU VLH PLQGHVWHQV VHFK]LJPDO VR IHWW ZLH GLH JDQ]H EULJH 0HQVFKKHLW ±© ªhEHUWUHLEXQJ hEHUWUHLEXQJ /HEHGHZ© ODFKWH PDQ ULQJVXP ª$XFK LFK ELQ GHU $QVLFKW GD GLHVHU *HGDQNHYRQ:HUWIUGLH:HOWJHVFKLFKWHLVWDEHUZDVZROOHQ 6LH GDUDXV IU HLQHQ 6FKOX ]LHKHQ"© IUDJWH GHU )UVW (U VSUDFK PLW VROFKHP (UQVW XQG VR RKQH MHGH %HLPLVFKXQJ YRQ 6FKHU] XQG 6SRWW JHJHQEHU /HEHGHZ EHU GHQ DOOH ODFKWHQ GD VHLQ 7RQ LQPLWWHQ GHV DOOJHPHLQHQ 7RQHV GHU JDQ]HQ *HVHOOVFKDIWXQZLOONUOLFKNRPLVFKZXUGHHVIHKOWHQLFKWYLHO VR KlWWHQ VLH DQJHIDQJHQ DXFK EHU LKQ ]X ODFKHQ DEHU HU EHPHUNWH GDV QLFKW ª6HKHQ 6LH GHQQ QLFKW )UVW GD GHU 0HQVFK YHUUFNW LVW"© VDJWH -HZJHQLM 3DZORZLWVFK VLFK ]X LKP KLQXQWHUEHXJHQG ª(V ZXUGH PLU YRUKLQ KLHU JHVDJW HU KDEHGLHIL[H,GHH$GYRNDW]XZHUGHQXQG9HUWHLGLJXQJVUHGHQ ]X KDOWHQ XQG ZROOH ]X GLHVHP =ZHFNH HLQ ([DPHQ DEOHJHQ ,FK HUZDUWH GD HU XQV MHW]W HLQH IDPRVH 3DURGLH ]XP EHVWHQ JLEW© ª,FK ]LHKH GDUDXV HLQHQ K|FKVW EHGHXWXQJVYROOHQ 6FKOX©ULHIXQWHUGHVVHQ/HEHGHZPLWVFKPHWWHUQGHU6WLPPH ª$EHUXQWHUVXFKHQZLUYRUDOOHQ'LQJHQGHQ SV\FKRORJLVFKHQ XQGMXULVWLVFKHQ =XVWDQG GHV 9HUEUHFKHUV :LU VHKHQ GD GHU 9HUEUHFKHU RGHU VR]XVDJHQ PHLQ .OLHQW WURW] GHU 6FKZLHULJNHLW VLFK HWZDV DQGHUHV (EDUHV ]X EHVFKDIIHQ PHKUHUH 0DOH LP /DXIH VHLQHV PHUNZUGLJHQ /HEHQV GHQ :XQVFK ]XU 5HXH EHNXQGHW XQG VLFK YRQ GHU *HLVWOLFKNHLW DEZHQGHW :LU HUVHKHQ GLHV GHXWOLFK DXV GHQ 7DWVDFKHQ HV ZLUGHUZlKQWGDHUIQIRGHUVHFKV.LQGHUYHUVSHLVWKDWHLQH YHUKlOWQLVPlLJ QLHGULJH =DKO GLH DEHU GDIU LQ DQGHUHU +LQVLFKW LQWHUHVVDQW LVW (V LVW NODU GD HU YRQ IXUFKWEDUHQ *HZLVVHQVELVVHQ JHTXlOW GHQQ PHLQ .OLHQW LVW HLQ UHOLJL|VHU
0HQVFK GHU HLQ *HZLVVHQ EHVLW]W ZDV LFK EHZHLVHQ ZHUGH XQG XP QDFK 0|JOLFKNHLW VHLQH 6QGH ]X YHUULQJHUQ YHUVXFKVZHLVH VHFKVPDO GLH P|QFKLVFKH 1DKUXQJ PLW /DLHQQDKUXQJYHUWDXVFKWH'DGLHVYHUVXFKVZHLVHJHVFKDKLVW ZLHGHUXP XQ]ZHLIHOKDIW GHQQ ZlUH HV QXU ]XP =ZHFNH JDVWURQRPLVFKHU $EZHFKVOXQJ JHVFKHKHQ VR ZlUH GLH =DKO VHFKV VHKU JHULQJ JHZHVHQ ZDUXP QXU VHFKV 6WFN XQG QLFKW GUHLLJ" ,FK QHKPH GLH +lOIWH YRQ GHU =DKO GHU YHU]HKUWHQ 0|QFKH $EHU ZHQQ GLHV QXU HLQ 9HUVXFK ZDU KHUYRUJHJDQJHQ DXV DQJVWYROOHU 9HU]ZHLIOXQJ EHU GDV 9HUEUHFKHQ GHU 5HOLJLRQVVS|WWHUHL XQG .LUFKHQVFKlQGXQJ GDQQ ZLUG GLHVH =DKO VHFKV VHKU YHUVWlQGOLFK GHQQ VHFKV 9HUVXFKH ZDUHQ ]XU %HUXKLJXQJ GHU *HZLVVHQVELVVH JDQ] DXVUHLFKHQG GD GLHVH 9HUVXFKH XQP|JOLFK HUIROJUHLFK VHLQ NRQQWHQ(UVWHQVLVWPHLQHU$QVLFKWQDFKHLQ.LQGJDU]XNOHLQ GDV KHLW ]X JHULQJ DQ 0DVVH VR GD LQ HLQHP EHVWLPPWHQ =HLWUDXPGUHLELVIQIPDOVRYLHO/DLHQNLQGHUHUIRUGHUOLFKVHLQ ZUGHQDOV*HLVWOLFKHXQGGLH6QGH ZHQQ VLH VLFK DXFK DXI GHU HLQHQ 6HLWH YHUULQJHUWH GRFK VFKOLHOLFK DXI GHU DQGHUQ 6HLWH ZFKVH QLFKW TXDOLWDWLY DEHU TXDQWLWDWLY %HL GLHVHQ (UZlJXQJHQPHLQH+HUUHQYHUVHW]HLFKPLFKQDWUOLFKLQGLH 6HHOH HLQHV 9HUEUHFKHUV DXV GHP ]Z|OIWHQ -DKUKXQGHUW :DV PLFK VHOEVW HLQHQ 0HQVFKHQ GHV QHXQ]HKQWHQ -DKUKXQGHUWV DQODQJW VR ZUGH LFK GDUEHU YLHOOHLFKW DQGHUV XUWHLOHQ ZDV LFKKLHUPLW]X,KUHU.HQQWQLVEULQJHPHLQH+HUUHQVRGD6LH NHLQHQ $QOD KDEHQ EHU PLFK ]X JULQVHQ XQG IU 6LH *HQHUDO VFKLFNW VLFK GDV QXQ VFKRQ JDQ] XQG JDU QLFKW =ZHLWHQV LVW HLQ .LQG PHLQHU $QVLFKW QDFK QLFKW QDKUKDIW YLHOOHLFKW VRJDU YRQ ]X VOLFKHP IDGHP *HVFKPDFN VR GD VHLQ*HQXRKQHGLH%HGUIQLVVHGHV0DJHQV]XEHIULHGLJHQ QXU *HZLVVHQVELVVH KLQWHUOlW -HW]W NRPPW QXQ GLH 6FKOXIROJHUXQJ GDV )LQDOH PHLQH +HUUHQ GDV )LQDOH LQ ZHOFKHP GLH $QWZRUW DXI HLQH GHU ZLFKWLJVWHQ )UDJHQ GHU GDPDOLJHQXQGGHUMHW]LJHQ =HLWHQWKDOWHQLVW'HU 9HUEUHFKHU
JHKW ]X JXWHU /HW]W KLQ XQG GHQXQ]LHUW VLFK EHL GHU *HLVWOLFKNHLW XQG JLEW VLFK LQ GLH +lQGH GHU *HUHFKWLJNHLW 0DQEHGHQNHZHOFKH4XDOHQLKQLQGDPDOLJHU=HLWHUZDUWHWHQ ZHOFKH5lGHU6FKHLWHUKDXIHQXQG)ODPPHQ:DVKDWLKQGD]X JHWULHEHQKLQ]XJHKHQXQGVLFK]XGHQXQ]LHUHQ":DUXPLVWHU QLFKW HLQIDFK EHL GHU =DKO 6HFK]LJ VWHKHQJHEOLHEHQ XQG KDW VHLQ *HKHLPQLV ELV ]X VHLQHP OHW]WHQ $WHP]XJ EHZDKUW" :DUXP KDW HU QLFKW HLQIDFK GHP 9HUVSHLVHQ YRQ 0|QFKHQ HQWVDJWXQGEHQGDOV(LQVLHGOHUJHOHEW":DUXPLVWHUHQGOLFK QLFKW VHOEVW 0|QFK JHZRUGHQ" +LHU LVW GLH /|VXQJ $OVR JDE HV HWZDV ZDV VWlUNHU ZDU DOV DOOH 6FKHLWHUKDXIHQ XQG )ODPPHQ VWlUNHU VHOEVW DOV HLQH ]ZDQ]LJMlKULJH *HZRKQKHLW $OVR JDE HV HLQH ,GHH VWlUNHU DOV DOOH /HLGHQ 0LHUQWHQ )ROWHUQ 3HVW $XVVDW] XQG DOO GLHVH +|OOHQTXDOHQ GLH GLH 0HQVFKKHLW RKQH MHQH DOOXPIDVVHQGH ,GHH ZHOFKH GHQ 6HHOHQ GLH 5LFKWXQJ JDE XQG GLH /HEHQVTXHOOHQ EHIUXFKWHWH QLFKW KlWWHHUWUDJHQN|QQHQ=HLJHQ6LHPLUHWZDVbKQOLFKHVJOHLFK 6WDUNHV LQ XQVHUHP -DKUKXQGHUW GHU /DVWHU XQG GHU (LVHQEDKQHQ GDV KHLW LFK VROOWH HLJHQWOLFK VDJHQ LQ XQVHUHP -DKUKXQGHUW GHU 'DPSIVFKLIIH XQG GHU (LVHQEDKQHQ DEHU LFK VDJH LQ XQVHUHP -DKUKXQGHUW GHU /DVWHU XQG GHU (LVHQEDKQHQGHQQLFKELQEHWUXQNHQDEHUJHUHFKW=HLJHQ6LH PLUHLQHGLHMHW]LJH0HQVFKKHLWXPIDVVHQGH,GHHGLHDXFKQXU KDOE VR VWDUN ZlUH ZLH GLH MHQHU -DKUKXQGHUWH :DJHQ 6LH VFKOLHOLFK]XVDJHQGDGLH4XHOOHQGHV/HEHQVXQWHUGLHVHP ¾6WHUQ½ GLHVHP 1HW] GDV GLH 0HQVFKHQ XPVWULFNW QLFKW VFKZlFKHU IOLHHQ QLFKW WUEH JHZRUGHQ VLQG 6XFKHQ 6LH PLFK QLFKW GXUFK ,KUH 5HGHQ YRQ GHU :RKOKDEHQKHLW YRP 5HLFKWXP YRQ GHU 6HOWHQKHLW GHV +XQJHUV XQG YRQ GHU 6FKQHOOLJNHLW GHU 9HUNHKUVPLWWHO ]X VFKUHFNHQ 'HU 5HLFKWXP LVW JU|HU JHZRUGHQ DEHU GLH VLWWOLFKH .UDIW JHULQJHU GLH DOOXPIDVVHQGH ,GHH IHKOW DOOHV LVW VFKODII JHZRUGHQ DOOHV LVW DXVJHNRFKWDOOH0HQVFKHQVLQGDXVJHNRFKW:LUDOOHDOOHDOOH VLQGDXVJHNRFKW$EHU JHQXJGDYRQGDUXPKDQGHOWHVVLFK
MHW]W QLFKW VRQGHUQ GDUXP RE ZLU QLFKW GHQ IU GLH *lVWH KHUJHULFKWHWHQ ,PEL DXIWUDJHQ ODVVHQ VROOHQ KRFKYHUHKUWHU )UVW"© /HEHGHZGHUHLQLJHVHLQHU =XK|UHUVFKRQZLUNOLFKXQZLOOLJ JHPDFKWKDWWHHVPXEULJHQVEHPHUNWZHUGHQGDZlKUHQG GHU JDQ]HQ =HLW XQXQWHUEURFKHQ QHXH )ODVFKHQ HQWNRUNW ZXUGHQ YHUV|KQWH GXUFK GHQ XQHUZDUWHWHQ 6FKOX VHLQHU 5HGH GXUFK GHQ +LQZHLV DXI GHQ ,PEL VRJOHLFK DOOH VHLQH *HJQHU (U VHOEVW QDQQWH HLQHQ VROFKHQ 6FKOX HLQHQ ªJHVFKLFNWHQ $GYRNDWHQNQLII© (V HUKRE VLFK ZLHGHU KHLWHUHV *HOlFKWHUGLH*lVWHZXUGHQZLHGHUOHEHQGLJDOOHVWDQGHQYRP 7LVFK DXI XP GLH *OLHGHU ]X UHFNHQ XQG LQ GHU 9HUDQGD XPKHU]XJHKHQ1XU.HOOHUIKOWHVLFKGXUFK /HEH±GHZV5HGH QLFKW EHIULHGLJW XQG EHIDQG VLFK LQ VWDUNHU $XIUHJXQJ ª(U JUHLIWGLH$XINOlUXQJDQSUHGLJWGHQ)DQDWLVPXVGHV]Z|OIWHQ -DKUKXQGHUWV VSLHOW GHQ 7XJHQGKDIWHQ RKQH GRFK LP +HU]HQ XQVFKXOGLJ ]X VHLQ P|FKWHQ 6LH LKQ QLFKW HLQPDO IUDJHQ DXI ZHOFKH:HLVHHUVHOEVWVLFKHLQ+DXV HUZRUEHQKDW"©VDJWHHU ODXW LQGHP HU DOOH XQG MHGHQ DQKLHOW ª,FK KDEH HLQHQ HFKWHQ (UNOlUHU GHU $SRNDO\SVH JHNDQQW© VDJWH GHU *HQHUDO LQ HLQHU DQGHUQ(FNH]XDQGHUQ=XK|UHUQXQWHUGHQHQVLFKDXFK3WL]\Q EHIDQGGHQHUDQHLQHP.QRSIJHIDWKDWWHªGHQYHUVWRUEHQHQ *ULJRULM 6HPMRQRZLWVFK %XUPLVWURZ GHU YHUVWDQG HV GLH +HU]HQ VR]XVDJHQ ]X HQWIODPPHQ =XHUVW VHW]WH HU VLFK GLH %ULOOH DXI XQG VFKOXJ HLQ JURHV DOWHV %XFK LQ VFKZDU]HP /HGHUHLQEDQG DXI QD XQG GD]X GHU JUDXH %DUW XQG ]ZHL 7DSIHUNHLWVPHGDLOOHQ (U EHJDQQ VHLQH $XVOHJXQJ PLW ILQVWHUHU VWUHQJHU 0LHQH VHOEVW *HQHUDOH EHXJWHQ VLFK YRU LKP XQG 'DPHQ ILHOHQ LQ 2KQPDFKW 1D XQG GLHVHU KLHU VFKOLHWPLWHLQHP,PEL(LQJDQ]WROOHV%HQHKPHQ© 3WL]\Q OlFKHOWH ZlKUHQG HU GHP *HQHUDO ]XK|UWH XQG KDWWH DQVFKHLQHQG GLH $EVLFKW QDFK VHLQHP +XW ]X JUHLIHQ DEHU HQWZHGHUNRQQWHHUVLFKQLFKWGD]XHQWVFKOLHHQRGHUHUYHUJD VHLQ 9RUKDEHQ VWlQGLJ ZLHGHU *DQMD KDWWH VFKRQ YRU GHP
$XJHQEOLFN ZR DOOH YRP 7LVFK DXIJHVWDQGHQ ZDUHQ DXI HLQPDO DXIJHK|UW ]X WULQNHQ XQG VHLQ *ODV YRQ VLFK IRUWJHVFKREHQ HLQ GVWHUHU $XVGUXFN ZDU EHU VHLQ *HVLFKW KLQZHJJH]RJHQ $OV PDQ VLFK YRP 7LVFK HUKRE WUDW HU ]X 5RJRVKLQXQGVHW]WHVLFK QHEHQ LKQ 0DQ NRQQWH GHQNHQ GD VLH LQ GHQ IUHXQGVFKDIWOLFKVWHQ %H]LHKXQJHQ ]XHLQDQGHU VWDQGHQ 5RJRVKLQ GHU DQIDQJV HEHQIDOOV PHKUHUH 0DOH YRUJHKDEW KDWWH VDFKWH ZHJ]XJHKHQ VD MHW]W UHJXQJVORV GD PLWJHVHQNWHP.RSIXQGDOVREDXFKHUYHUJHVVHQKlWWHGDHU KDWWH ZHJJHKHQ ZROOHQ (U KDWWH GHQ JDQ]HQ $EHQG EHU NHLQHQ 7URSIHQ :HLQ JHWUXQNHQ XQG ZDU VHKU QDFKGHQNOLFK JHZHVHQ QXU VHOWHQ KDWWH HU GLH $XJHQ DXIJHVFKODJHQ XQG MHGHQHLQ]HOQHQDQJHEOLFNW-HW]WDEHUNRQQWHPDQGHQNHQGD HU KLHU DXI HWZDV IU LKQ VHKU :LFKWLJHV ZDUWHWH XQG YRUKHU QLFKWZHJJHKHQZROOWH 'HU )UVW KDWWH QLFKW PHKU DOV ]ZHL RGHU GUHL *OlVHU JHWUXQNHQ XQG ZDU QXU OXVWLJ $OV HU YRP 7LVFK DXIVWDQG EHJHJQHWHQ VLFK VHLQ XQG -HZJHQLM 3DZORZLWVFKV %OLFN HU HULQQHUWH VLFK DQ GLH EHYRUVWHKHQGH 8QWHUUHGXQJ XQG OlFKHOWH IUHXQGOLFK-HZJHQLM3DZORZLWVFKQLFNWHLKP]XXQG]HLJWHDXI ,SSROLWGHQHUVRHEHQDXIPHUNVDPEHWUDFKWHWKDWWH,SSROLWODJ DXI GHP 6RID DXVJHVWUHFNW XQG VFKOLHI ª6DJHQ 6LH )UVW ZDUXPKDWVLFKGLHVHU-XQJHZLHHLQH.OHWWHDQ6LHJHKlQJW"© IUDJWH HU PLW VR RIIHQVLFKWOLFKHP bUJHU XQG VRJDU LQ VR JULPPLJHP 7RQ GD GHU )UVW HUVWDXQW ZDU ª,FK P|FKWH GDUDXI ZHWWHQ GD HU QLFKWV *XWHV LP 6FKLOGH IKUW© ª,FK KDEHEHPHUNW©DQWZRUWHWHGHU)UVWªHVLVWPLUZHQLJVWHQVVR YRUJHNRPPHQ DOV LQWHUHVVLHUWH HU 6LH KHXWH JDQ] EHVRQGHUV -HZJHQLM 3DZO\WVFK LVW GDV ULFKWLJ"© ª6LH N|QQHQ QRFK KLQ]XIJHQ GD LFK HLJHQWOLFK PLW PHLQHQ HLJHQHQ $QJHOHJHQKHLWHQ 6WRII JHQXJ ]XP 1DFKGHQNHQ KlWWH XQG LFK ZXQGHUHPLFKVHOEVWGDUEHUGDLFKPHLQH$XJHQGHQJDQ]HQ $EHQGQLFKWYRQGLHVHUZLGHUZlUWLJHQ9LVDJHORVUHLHQNDQQ© ª(UKDWHLQKEVFKHV*HVLFKW±© ª'DGDVHKHQ6LHQXU©ULHI
-HZJHQLM 3DZORZLWVFK LQGHP HU GHQ )UVWHQ DP $UP IDWH ª6HKHQ 6LH© 'HU )UVW EOLFNWH -HZJHQLM 3DZORZLWVFK QRFK HLQPDOYHUZXQGHUWDQ ,SSROLW GHU JHJHQ (QGH GHV /HEHGHZVFKHQ 9HUWUDJHV DXI GHP6RIDHLQJHVFKODIHQZDUHUZDFKWHMHW]WSO|W]OLFKDOVKlWWH LKP MHPDQG HLQHQ 6WR LQ GLH 6HLWH YHUVHW]W IXKU ]XVDPPHQ ULFKWHWHVLFKDXIEOLFNWHXPVLFKXQGZXUGHEODHVODJVRJDU HLQ $XVGUXFN YRQ $QJVW XQG 6FKUHFNHQ DXI VHLQHP *HVLFKW DOV HU VLFK HQGOLFK DOOHV LQV *HGlFKWQLV ]XUFNJHUXIHQ XQG EHJULIIHQKDWWH ª:LH"*HKHQVLH VFKRQ ZHJ" ,VW HV ]X (QGH" ,VWDOOHV]X(QGH",VWGLH6RQQHVFKRQDXIJHJDQJHQ"©IUDJWHHU DXIJHUHJW XQG JULII QDFK GHU +DQG GHV )UVWHQ ª:DV LVW GLH 8KU" 8P *RWWHV ZLOOHQ ZDV LVW GLH 8KU" ,FK KDEH GLH =HLW YHUVFKODIHQ:LHODQJHKDEHLFKJHVFKODIHQ"©IJWHHUPLWIDVW YHU]ZHLIHOWHU 0LHQH KLQ]X DOV RE HU HWZDV YHUVFKODIHQ KlWWH ZRYRQPLQGHVWHQVVHLQJDQ]HV 6FKLFNVDO DEKLQJH ª6LH KDEHQ VLHEHQ RGHU DFKW 0LQXWHQ JHVFKODIHQ© DQWZRUWHWH -HZJHQLM 3DZORZLWVFK ,SSROLW EOLFNWH LKQ JHVSDQQW DQ XQG GDFKWH HLQLJH $XJHQEOLFNH QDFK ª$K QLFKW PHKU $OVR NDQQ LFK © (U KROWHWLHIXQGEHJLHULJ$WHPDOVKlWWHHUHLQHVFKZHUH/DVWYRQ VLFK JHZRUIHQ (U PHUNWH HQGOLFK GD QLFKWV ª]X (QGH ZDU© GDHVQRFKQLFKWWDJWHGDGLH*lVWHQXUZHJHQGHV,PELVVHV YRP 7LVFK DXIJHVWDQGHQ ZDUHQ XQG GD OHGLJOLFK /HEHGHZV *HVFKZlW] DXIJHK|UW KDWWH (U OlFKHOWH XQG HLQH VFKZLQGVFKWLJH5|WHHUVFKLHQLQ*HVWDOW]ZHLHUJUHOOHU)OHFNH DXIVHLQHQ:DQJHQª6LHKDEHQDOVRVRJDUGLH0LQXWHQJH]lKOW ZlKUHQG LFK VFKOLHI -HZJHQLM 3DZO\WVFK© VDJWH HU VS|WWLVFK ª6LH KDEHQ GHQ JDQ]HQ $EHQG EHU GLH $XJHQ QLFKW YRQ PLU DEJHZDQGWLFKKDEHHVZRKOJHVHKHQ±$KGDLVWMD5RJ±VKLQ ,FK KDEH VRHEHQ YRQ LKP JHWUlXPW© IOVWHUWH HU GHP )UVWHQ ]X LQGHP HU HLQ ILQVWHUHV *HVLFKW PDFKWH XQG PLW GHP .RSI QDFKGHPDP7LVFKVLW]HQGHQ5RJRVKLQKLQGHXWHWH ª$FKMD© IXKU HU SO|W]OLFK ]X HWZDV DQGHUHP EHUJHKHQG IRUW ªZR LVW
GHQQGHU5HGQHU":RLVWGHQQ/HEHGHZ"/HEHGHZLVWDOVR]X (QGH":RUEHUKDWHUGHQQJHVSURFKHQ",VWHVZDKU)UVWGD 6LHHLQPDOJHVDJWKDEHQGLH:HOWZHUGH GXUFK GLH 6FK|QKHLW HUO|VWZHUGHQ"0HLQH+HUUHQ©ULHIHUDOOHQODXW]XªGHU)UVW EHKDXSWHWGLH:HOWZHUGHGXUFKGLH6FK|QKHLWHUO|VWZHUGHQ 8QG LFK EHKDXSWH GD HU MHW]W GHVKDOE VR OHLFKWVLQQLJH *HGDQNHQKDWZHLOHUYHUOLHEWLVW0HLQH+HUUHQGHU)UVWLVW YHUOLHEW YRUKLQ VRZLH HU KHUHLQNDP KDEH LFK PLFK GDYRQ EHU]HXJW (UU|WHQ 6LH QLFKW )UVW GDV ZUGH PLU OHLG WXQ :DVLVWGHQQGDVIUHLQH6FK|QKHLWGXUFKGLHGLH:HOWHUO|VW ZHUGHQZLUG"0LUKDW.ROMDGDVZLHGHUHU]lKOW6LQG6LHHLQ HLIULJHU &KULVW" .ROMD VDJW 6LH EH]HLFKQHWHQ VLFK VHOEVW DOV &KULVW© 'HU )UVW VDK LKQ DXIPHUNVDP DQ RKQH LKP ]X DQWZRUWHQ ª6LH DQWZRUWHQ PLU QLFKW" 6LH JODXEHQ YLHOOHLFKW GD LFK 6LH VHKU JHUQ KDEH"© IJWH ,SSROLW SO|W]OLFK JDQ] XQYHUPLWWHOW KLQ]X ª1HLQ GDV JODXEH LFK QLFKW ,FK ZHL GD 6LH PLFK QLFKW OHLGHQ N|QQHQ© ª:LH" 6HOEVW QDFK GHP ZDV JHVWHUQ JHVFKHKHQ LVW" :DU LFK JHVWHUQ JHJHQ 6LH QLFKW DXIULFKWLJ"© ª,FK ZXWH DXFK JHVWHUQ GD 6LH PLFK QLFKW OHLGHQ N|QQHQ© ª6LH PHLQHQ ZHLO LFK 6LH EHQHLGH" 'DV KDEHQ 6LH LPPHU JHGDFKWXQGGHQNHQHVDXFKMHW]WDEHUDEHUZDUXPUHGHLFK PLW ,KQHQ GDYRQ" ,FK ZLOO QRFK &KDPSDJQHU WULQNHQ JLHHQ 6LH PLU HLQ .HOOHU© ª6LH GUIHQ QLFKW PHKU WULQNHQ ,SSROLW LFKJHEH,KQHQNHLQHQPHKU© 'HU)UVWVFKREGDV*ODVYRQLKPZHJª1XQJXW©VDJWH HU VRIRUW GDPLW HLQYHUVWDQGHQ XQG VFKLHQ LQ *HGDQNHQ ]X YHUVLQNHQ ª'LH /HXWH ZHUGHQ ZRP|JOLFK QRFK VDJHQ ± DEHU ZDV VFKHUH LFK PLFK XP GDV ZDV GLH /HXWH VDJHQ ZHUGHQ 1LFKWZDKU"1LFKWZDKU"0|JHQGLH/HXWHQDFKKHUUHGHQZDV VLH ZROOHQ QLFKW ZDKU )UVW" 8QG ZDV NPPHUW HV XQV DOOH ZDVQDFKKHUVHLQZLUG,FKELQEULJHQVQRFKVFKODIWUXQNHQ :DVLFKIUHLQHQVFKUHFNOLFKHQ7UDXPJHKDEWKDEHMHW]WIlOOW HV PLU ZLHGHU HLQ ,FK ZQVFKH ,KQHQ VROFKH 7UlXPH QLFKW
)UVWZHQQLFK6LHDXFKYLHOOHLFKWZLUNOLFKQLFKWOHLGHQNDQQ hEULJHQV ZHQQ PDQ MHPDQG DXFK QLFKW OHLGHQ NDQQ ZDUXP VROO PDQ LKP %|VHV ZQVFKHQ QLFKW ZDKU" :DUXP IUDJH LFK QXU IRUWZlKUHQG" )RUWZlKUHQG IUDJH LFK *HEHQ 6LH PLU ,KUH +DQG LFK ZHUGH VLH NUlIWLJ GUFNHQ VHKHQ 6LH VR 6LH KDEHQ PLU DOVR GRFK GLH +DQG JHUHLFKW 6LH ZLVVHQ DOVR GD PHLQ +lQGHGUXFN DXIULFKWLJ JHPHLQW LVW" ± 0HLQHWZHJHQ LFK ZHUGHQLFKWPHKUWULQNHQ:DVLVWGLH8KU"hEULJHQVEUDXFKHQ 6LH HV PLU QLFKW ]X VDJHQ LFK ZHL ZDV GLH 8KU LVW 'LH 6WXQGHLVWJHNRPPHQ-HW]WLVWJHQDXGLH=HLW:DV":LUGGHU ,PELGRUWLQGLH(FNH JHVWHOOW"$OVREOHLEW GLHVHU 7LVFK IUHL" 9RU]JOLFK 0HLQH +HUUHQ LFK ± DEHU GLHVH +HUUHQ K|UHQ MD DOOH QLFKW ± LFK EHDEVLFKWLJH HLQHQ $UWLNHO YRU]XOHVHQ )UVW GHU,PELLVWQDWUOLFKLQWHUHVVDQWHUDEHU±© 8QG JDQ] XQHUZDUWHW ]RJ HU DXV VHLQHU REHUHQ 6HLWHQWDVFKH HLQ PLW HLQHP JURHQ URWHQ 6LHJHO YHUVFKORVVHQHV .XYHUW LQ .DQ]OHLIRUPDWKHUDXV(UOHJWHHVYRUVLFKDXIGHQ7LVFK 'LHVHU XQHUZDUWHWH 9RUJDQJ EWH DXI GLH DQJHKHLWHUWH *HVHOOVFKDIWGLHYRUEHUHLWHWZDUDEHUQLFKWGDUDXIHLQHVWDUNH :LUNXQJDXV-HZJHQLM3DZORZLWVFK VSUDQJ VRJDU YRQ VHLQHP 6WXKO DXI *DQMD NDP VFKQHOO DQ GHQ 7LVFK KHUDQ 5RJRVKLQ HEHQIDOOVDEHUPLWPUULVFKHUlUJHUOLFKHU0LHQHDOVZWHHU XP ZDV HV VLFK KDQGOH /HEHGHZ GHU VLFK ]XIlOOLJ JHUDGH LQ GHU 1lKH EHIDQG WUDW PLW QHXJLHULJHQ $XJHQ KHUDQ XQG VFKDXWH QDFK GHP .XYHUW EHPKW GHVVHQ ,QKDOW ]X HUUDWHQ ª:DVKDEHQ6LHGHQQGD"©IUDJWHGHU)UVWEHXQUXKLJWª6RZLH GHU 5DQG GHU 6RQQHQVFKHLEH VLFKWEDU ZLUG ZHUGH LFK PLFK KLQOHJHQ )UVW LFK KDEH HV JHVDJW PHLQ (KUHQZRUW GDUDXI 6LH ZHUGHQ HV VHKHQ© ULHI ,SSROLW ª$EHU DEHU JODXEHQ 6LH ZLUNOLFK LFK ZlUH QLFKW LPVWDQGH GLHVHV .XYHUW ]X HUEUHFKHQ"© IJWH HU KLQ]X LQGHP HU LQ KHUDXVIRUGHUQGHU :HLVHDOOH8PVWHKHQGHQGHU5HLKHQDFKDQVFKDXWHXQGVLFKDQ DOOHRKQH8QWHUVFKLHGZDQGWH 'HU )UVW EHPHUNWH GD HU DP JDQ]HQ /HLEH ]LWWHUWH
ª1LHPDQG YRQ XQV JODXEW GDV© DQWZRUWHWH GHU )UVW IU DOOH ª:DUXP PHLQHQ 6LH GHQQ GD MHPDQG VR HWZDV GHQNW XQG ZDV ZDV LVW GDV IU HLQ VHOWVDPHU (LQIDOO YRQ ,KQHQ HWZDV YRUOHVHQ ]X ZROOHQ" :DV KDEHQ 6LH GHQQ GD ,SSROLW"© ª:DV LVW GHQQ ORV" :DV LVW GHQQ ZLHGHU PLW LKP SDVVLHUW"© ZXUGH YRQDOOHQ6HLWHQJHIUDJW $OOHWUDWHQKHUDQPDQFKHQRFKHVVHQGGDV.XYHUWPLWGHP URWHQ 6LHJHO EWH DXI DOOH HLQH $Q]LHKXQJVNUDIW DXV ZLH HLQ 0DJQHW ª'DV KDEH LFK JHVWHUQ VHOEVW JHVFKULHEHQ JOHLFK QDFKGHP LFK YHUVSURFKHQ KDWWH ]X ,KQHQ ]X ]LHKHQ XQG EHL ,KQHQ ]X ZRKQHQ )UVW ,FK KDEH JHVWHUQ GHQ JDQ]HQ 7DJ GDUDQ JHVFKULHEHQ XQG GDQQ GLH JDQ]H 1DFKW XQG ELQ KHXWH PRUJHQ GDPLW IHUWLJ JHZRUGHQ LQ GHU 1DFKW JHJHQ 0RUJHQ KDWWHLFKHLQHQ7UDXP©ª:lUHHVQLFKWEHVVHUHVELVPRUJHQ ]XODVVHQ"©XQWHUEUDFKLKQGHU)UVWVFKFKWHUQª0RUJHQZLUG ¾NHLQH =HLW PHKU VHLQ½© HUZLGHUWH ,SSROLW PLW HLQHP NUDPSIKDIWHQ /lFKHOQ ª%HXQUXKLJHQ 6LH VLFK EULJHQV QLFKW GDV9RUOHVHQZLUGQXUYLHU]LJ0LQXWHQGDXHUQQD±RGHUHLQH 6WXQGH8QGVHKHQ6LHQXUZLHVLFKDOOHGDIULQWHUHVVLHUHQ DOOHVLQGVLHKHUJHNRPPHQDOOHVHKHQVLHPHLQ6LHJHODQKlWWH LFK GDV 6FKULIWVWFN QLFKW LQ HLQ .XYHUW YHUSDFNW XQG YHUVLHJHOWVRKlWWHLFKJDUNHLQHQ(IIHNWGDPLWJHPDFKW+DKD 'DVLHKWPDQZDVGLH*HKHLPQLVNUlPHUHLIUHLQH%HGHXWXQJ KDW 6ROO LFK GDV .XYHUW DXIEUHFKHQ PHLQH +HUUHQ RGHU QLFKW"© ULHI HU PLW VHLQHP VHOWVDPHQ /DFKHQ XQG PLW EOLW]HQGHQ $XJHQ ª(LQ *HKHLPQLV HLQ *HKHLPQLV (ULQQHUQ 6LHVLFKZRKO)UVWZHUGDVJHVDJWKDWGD¾KLQIRUWNHLQH=HLW PHKU VHLQ VROO½" 'DV VDJW GHU VWDUNH PlFKWLJH (QJHO LQ GHU $SRNDO\SVH© ª(V LVW GDV EHVWH GLH 9RUOHVXQJ XQWHUEOHLEW© ULHI DXI HLQPDO -HZJHQLM 3DZORZLWVFK DEHU VHLQ *HVLFKW ZLHV GDEHLHLQHDQLKPVRXQJHZ|KQOLFKH8QUXKHDXIGDHVYLHOHQ VRQGHUEDUHUVFKLHQª/HVHQ6LHQLFKW©ULHIDXFKGHU)UVWXQG OHJWH GLH +DQG DXI GDV .XYHUW ª:R]X MHW]W HLQH 9RUOHVXQJ" -HW]W LVW GHU ,PEL DQ GHU 5HLKH© EHPHUNWH MHPDQG ª(V LVW
ZRKO HLQ $UWLNHO IU HLQH =HLWVFKULIW"© HUNXQGLJWH VLFK HLQ DQGHUHU ª9LHOOHLFKWLVWHVODQJZHLOLJ©IJWH HLQ GULWWHU KLQ]X ª$EHUZDVLVWHVGHQQHLJHQWOLFK"©IUDJWHQGLHEULJHQ'XUFK GLHlQJVWOLFKH+DQGEHZHJXQJGHV)UVWHQVFKLHQ MHGRFK DXFK ,SSROLWEHGHQNOLFKJHZRUGHQ]XVHLQª$OVRVROOLFKHVQLFKW YRUOHVHQ"© IOVWHUWH HU LKP ]DJKDIW ]X XQG HLQ VFKLHIHV /lFKHOQVSLHOWHXPVHLQHEOlXOLFKHQ/LSSHQª1LFKWYRUOHVHQ"© PXUPHOWHHULQGHPHUVHLQHQ%OLFNEHUGDVJDQ]H3XEOLNXP EHU DOOH $XJHQ XQG *HVLFKWHU KLQJOHLWHQ OLH DOV ZROOWH HU VLFK ZLHGHU PLW GHU JOHLFKHQ VR]XVDJHQ DQVWUPHQGHQ ([SDQVLYLWlW DQ DOOH NODPPHUQ ª6LH IUFKWHQ VLFK"© VDJWH HU ZLHGHU ]X GHP )UVWHQ JHZDQGW ª:RYRU VROOWH LFK PLFK IUFKWHQ"© IUDJWH GLHVHU ZlKUHQG VHLQ *HVLFKWVDXVGUXFN VLFK LPPHU PHKU YHUlQGHUWH ª+DW MHPDQG HLQ =ZDQ]LJNRSHNHQVWFN"© ULHI ,SSROLW XQG VSUDQJ YRQ VHLQHP 6WXKODXIDOVRELKQMHPDQGLQGLH+|KHJHULVVHQKlWWHª2GHU LUJHQGHLQH DQGHUH 0Q]H"© ª+LHU© VDJWH /HEHGHZ LKP VFKQHOO HLQH 0Q]H KLQUHLFKHQG ,KP KXVFKWH GHU *HGDQNH GXUFKGHQ.RSIREGHUNUDQNH,SSROLWQLFKWYLHOOHLFKWLUUVLQQLJ JHZRUGHQ VHL ª:HUD /XNMDQRZQD© ULHI ,SSROLW HLOLJ ª%LWWH QHKPHQ6LHGLH0Q]HXQGZHUIHQ6LHVLHDXIGHQ7LVFK$GOHU RGHU6FKULIW":HQQGHU$GOHUREHQOLHJWZLOOLFKHVYRUOHVHQ© :HUD EOLFNWH HUVFKURFNHQ HUVW GDV *HOGVWFN GDQQ ,SSROLW GDUDXI LKUHQ 9DWHU DQ GDQQ ZDUI VLH GHQ .RSI QDFK REHQ ]XUFNELHJHQG DOV PHLQH VLH VLH GUIH QXQ VHOEVW GLH 0Q]H QLFKW PHKU DQVHKHQ GLHVH PLW HLQHU XQJHVFKLFNWHQ %HZHJXQJ DXI GHQ 7LVFK 'HU $GOHU NDP QDFK REHQ ]X OLHJHQ ª$OVR YRUOHVHQ© IOVWHUWH ,SSROLW DOV ZlUH HU GXUFK GLH YRP 6FKLFNVDOJHWURIIHQH(QWVFKHLGXQJQLHGHUJHVFKPHWWHUWHUKlWWH QLFKW EODVVHU ZHUGHQ N|QQHQ ZHQQ PDQ LKP VHLQ 7RGHVXUWHLO YRUJHOHVHQKlWWH1DFKGHPHU HLQHKDOEH0LQXWHJHVFKZLHJHQ KDWWH]XFNWHHUSO|W]OLFK]XVDPPHQXQGVDJWH ª:DV ZDU GDV EULJHQV" +DEH LFK ZLUNOLFK VRHEHQ GDV /RV EHIUDJW"© (U PXVWHUWH DOOH ULQJVXPKHU PLW GHU JOHLFKHQ ]XGULQJOLFKHQ
2IIHQKHU]LJNHLW ZLH YRUKHU ª$EHU GDV LVW MD HLQ ZXQGHUEDUHU SV\FKRORJLVFKHU =XJ© ULHI HU VLFK DQ GHQ )UVWHQ ZHQGHQG SO|W]OLFK LQ DXIULFKWLJHP 6WDXQHQ ª'DV GDV LVW HLQ XQEH JUHLIOLFKHU =XJ )UVW© ZLHGHUKROWH HU ZXUGH OHEKDIWHU XQG VFKLHQ VHLQH *HGDQNHQ ]X VDPPHOQ ª1RWLHUHQ 6LH VLFK GDV )UVW PHUNHQ 6LH HV VLFK 6LH VDPPHOQ MD ZRKO 0DWHULDO EHWUHLIHQG GLH (PSILQGXQJHQ YRU GHU +LQULFKWXQJ ,FK KDEH PLU GDV VDJHQ ODVVHQ KDKD 2 *RWW ZDV IU HLQ VLQQORVHV DEJHVFKPDFNWHV %HQHKPHQ© (U VHW]WH VLFK DXI GDV 6RID VWW]WHGLHEHLGHQ(OOERJHQDXIGHQ7LVFKXQGIDWHVLFKDQGHQ .RSI ª'D PX PDQ VLFK MD JHUDGH]X VFKlPHQ $EHU ZDV VFKHUW PLFK GDV GD PDQ VLFK VFKlPHQ PX© ULHI HU GHQ .RSI VRJOHLFK ZLHGHU KHEHQG ª0HLQH +HUUHQ PHLQH +HUUHQ ,FK |IIQH GDV .XYHUW© YHUNQGHWH HU PLW SO|W]OLFKHU (QW VFKORVVHQKHLWhEULJHQVLFK]ZLQJHQLHPDQG]X]XK|UHQ© 0LWYRU$XIUHJXQJ]LWWHUQGHQ+lQGHQHUEUDFKHUGDV.XYHUW QDKPPHKUHUHPLWNOHLQHU6FKULIWEHGHFNWH %RJHQ%ULHISDSLHU KHUDXVOHJWHVLHYRUVLFKKLQXQGVWULFKVLHJODWWª:DVLVWGHQQ GDV":DVLVWGHQQGDORV":DVZLUGHUYRUOHVHQ"©PXUPHOWHQ PDQFKHYHUGULHOLFKDQGHUHVFKZLHJHQ$EHUDOOHVHW]WHQVLFK KLQ XQG PDFKWHQ QHXJLHULJH *HVLFKWHU 9LHOOHLFKW HUZDUWHWHQ VLH ZLUNOLFK HWZDV 8QJHZ|KQOLFKHV :HUD NODPPHUWH VLFK DQ GHQ 6WXKO LKUHV 9DWHUV XQG ZHLQWH EHLQDK YRU $QJVW LQ IDVW JOHLFKHU $QJVW EHIDQG VLFK .ROMD /HEHGHZ GHU VLFK EHUHLWV KLQJHVHW]WKDWWHHUKREVLFKZLHGHUKDOEHUJULIIGLH.HU]HQXQG ]RJ VLH QlKHU DQ ,SSROLW KHUDQ GDPLW GLHVHU PHKU /LFKW EHLP 9RUOHVHQ KDWWH ª0HLQH +HUUHQ ZDV GDV KLHU LVW ZHUGHQ 6LH VRIRUWVHKHQ©VFKLFNWH,SSROLWDXVLUJHQGHLQHP*UXQGHYRUDXV XQG EHJDQQ GDQQ VHLQH 9RUOHVXQJ ª(LQH QRWZHQGLJH (UNOlUXQJ 0RWWR $SUHV PRL OH GHOXJH 3IXL +RO¶V GHU 7HXIHO© ULHI HU DOV RE HU VLFK YHUEUDQQW KlWWH ª+DEH LFK ZLUNOLFK LP (UQVW HLQ VROFKHV GXPPHV 0RWWR KLQVHW]HQ N|QQHQ"+|UHQ6LHPHLQH+HUUHQ ,FKYHUVLFKHUH ,KQHQ
IU] 1DFKPLUGLH6LQWIOXW
GD GLHV DOOHV DP (QGH YLHOOHLFKW VFKUHFNOLFK GXPPHV =HXJ LVW (V VLQG QXU HLQ SDDU *HGDQNHQ YRQ PLU :HQQ 6LH JODXEHQGDGDVKLHULUJHQGHWZDV*HKHLPQLVYROOHVRGHU 9HUERWHQHV LVW PLW HLQHP :RUW © ª/HVHQ 6LH GRFK RKQH ZHLWHUH 9RUUHGHQ© XQWHUEUDFK LKQ *DQMD ª(U NQHLIW© IJWH MHPDQGKLQ]Xª9LHOXQQW]HV*HUHGH©PLVFKWHVLFK5RJRVKLQ HLQGHUELVKHUGLHJDQ]H=HLWJHVFKZLHJHQKDWWH ,SSROLWEOLFNWHVFKQHOOQDFKLKPKLQXQGDOVLKUH$XJHQVLFK WUDIHQ IOHWVFKWH 5RJRVKLQ ELWWHU XQG JULPPLJ GLH =lKQH XQG VSUDFK ODQJVDP GLH VHOWVDPHQ :RUWH ª'LHVH 6DFKH PX PDQ DQGHUV]X(QGHEULQJHQ-XQJHJDQ]DQGHUV© :DV 5RJRVKLQ GDPLW VDJHQ ZROOWH YHUVWDQG QDWUOLFK QLHPDQG DEHU VHLQH :RUWH PDFKWHQ DXI DOOH HLQHQ UHFKW VRQGHUEDUHQ (LQGUXFN HLQ XQG GHUVHOEH *HGDQNH EHUKUWH HLQHQ MHGHQ YRQ LKQHQ $XI ,SSROLW EWHQ GLHVH :RUWH HLQH IXUFKWEDUH:LUNXQJDXVHUEHJDQQVR]X]LWWHUQGDGHU)UVW VFKRQGLH+DQG DXVVWUHFNHQZROOWHXPLKQ]XVWW]HQXQGHU KlWWH JHZL DXIJHVFKULHQ ZHQQ LKP QLFKW RIIHQEDU SO|W]OLFK GLH6WLPPHYHUVDJWKlWWH(LQHJDQ]H0LQXWHODQJZDUHUQLFKW LPVWDQGH HLQ :RUW KHUDXV]XEULQJHQ XQG EOLFNWH VFKZHU DWPHQG IRUWZlKUHQG 5RJRVKLQ DQ (QGOLFK VDJWH HU NHXFKHQG XQGPLWJHZDOWVDPHU$QVWUHQJXQJ ª$OVR6LH 6LH ZDUHQ HV 6LH"© ª:DV VROO LFK JHZHVHQ VHLQ" ,FK"© DQWZRUWHWH 5RJRVKLQ YHUVWlQGQLVORV $EHU ,SSROLW IXKU YRQ SO|W]OLFKHU :XWJHSDFNWDXIXQGVFKULHPLWVFKDUIHUVWDUNHU6WLPPHª6LH ZDUHQLQGHUYRULJHQ±:RFKHEHLPLUEHL1DFKWXPHLQ8KU DQ GHP 7DJH DQ GHP LFK PRUJHQV ]X ,KQHQ JHNRPPHQ ZDU 6LH*HVWHKHQ6LHHVHLQGD6LHHVZDUHQ"©ª,QGHUYRULJHQ :RFKH EHL 1DFKW" +DVW GX GHQ 9HUVWDQG YHUORUHQ" %LVW GX JHUDGH]XYHUUFNWJHZRUGHQ-XQJH"© 'HUª-XQJH©VFKZLHJZLHGHUXQJHIlKUHLQH0LQXWHLQGHPHU GHQ =HLJHILQJHU DQ GLH 6WLUQ KLHOW XQG QDFKGDFKWH DEHU LQ VHLQHP EOHLFKHQ LPPHU QRFK YRQ )XUFKW YHU]HUUWHQ /lFKHOQ VFKLPPHUWH SO|W]OLFK HLQ VFKODXHU MD WULXPSKLHUHQGHU
$XVGUXFN DXI ª'DV ZDUHQ 6LH© ZLHGHUKROWH HU HQGOLFK IOVWHUQGDEHULP7RQIHVWHVWHUhEHU]HXJXQJª6LHVLQG]XPLU JHNRPPHQ XQG KDEHQ VFKZHLJHQG EHL PLU DXI GHP 6WXKO DP )HQVWHU JHVHVVHQ HLQH YROOH 6WXQGH ODQJ OlQJHU ]ZLVFKHQ ]Z|OI XQG ]ZHL 8KU QDFKWV GDQQ VLQG 6LH QDFK ]ZHL 8KU DXIJHVWDQGHQXQGZHJJHJDQJHQ±'DVZDUHQ6LH6LH:DUXP 6LHPLFKVRJHlQJVWLJWKDEHQZDUXP6LHJHNRPPHQVLQGXP PLFK]XTXlOHQGDVYHUVWHKHLFKQLFKWDEHUGDVZDUHQ6LH© 8QGREZRKODXVVHLQHP%OLFNGHU$XVGUXFN]LWWHUQGHU$QJVW QRFKQLFKWJHVFKZXQGHQZDUEOLW]WHGRFKLQLKPSO|W]OLFKHLQ JUHQ]HQORVHU+DDXIª6LHZHUGHQGDVDOOHVVRJOHLFKHUIDKUHQ PHLQH+HUUHQLFKLFKK|UHQ6LHQXU]X© (U JULII ZLHGHU LQ VFKUHFNOLFKHU +DVW QDFK VHLQHQ %OlWWHUQ VLHKDWWHQVLFK YHUVFKREHQ XQG ZDUHQ DXVHLQDQGHUJHJOLWWHQ HU EHPKWH VLFK VLH ]XVDPPHQ]XOHJHQ VLH ]LWWHUWHQ LQ VHLQHQ EHEHQGHQ +lQGHQ HV GDXHUWH ODQJH ELV HU GDPLW ]XUHFKWNDP ª(ULVWYHUUFNWJHZRUGHQRGHUHUUHGHWLP)LHEHU©PXUPHOWH 5RJRVKLQNDXPK|UEDU (QGOLFKEHJDQQGLH9RUOHVXQJ$QIDQJVHWZD IQI0LQXWHQ ODQJ ZXUGH HV GHP 9HUIDVVHU GHU XQHUZDUWHWHQ $EKDQGOXQJ QRFK VFKZHU /XIW ]X EHNRPPHQ XQG HU ODV XQ]XVDPPHQ KlQJHQG XQG XQJOHLFKPlLJ DEHU GDQQ ZXUGH VHLQH 6WLPPH IHVW XQG YHUPRFKWH GHQ 6LQQ GHV *HOHVHQHQ YROOVWlQGLJ ]XP $XVGUXFN ]X EULQJHQ 1XU ZXUGH HU PDQFKPDO YRQ HLQHP ]LHPOLFK VWDUNHQ +XVWHQ XQWHUEURFKHQ YRQ GHU 0LWWH GHV 6FKULIWVWFNV DQ ZDU HU VHKU KHLVHU 'HU JHZDOWLJH (LIHU GHU VLFK VHLQHU MH ZHLWHU GLH 9RUOHVXQJ IRUWVFKULWW LPPHU PHKU EHPlFKWLJWHHUUHLFKWHJHJHQ(QGHGHQK|FKVWHQ*UDGHEHQVR ZLH GLH SHLQOLFKH (PSILQGXQJ GHU =XK|UHU +LHU LVW GLHVH JDQ]Hª$EKDQGOXQJ©ª0HLQHQRWZHQGLJH(UNOlUXQJ $SUHVPRLOXJH *HVWHUQ YRUPLWWDJ ZDU GHU )UVW EHL PLU XQWHU DQGHUP EHUUHGHWH HU PLFK QDFK VHLQHP /DQGKDXV EHU]XVLHGHOQ ,FK
ZXWH GD HU XQEHGLQJW GDUDXI EHVWHKHQ ZUGH XQG ZDU EHU]HXJW GD HU JHUDGH]X PLW GHU %HPHUNXQJ KHUDXVSODW]HQ ZHUGHHVZHUGHPLULQGHP/DQGKDXVXQWHUGHQ0HQVFKHQXQG %lXPHQOHLFKWHUVHLQ]XVWHUEHQZLHHUVLFKDXVGUFNW+HXWH MHGRFKVDJWHHUQLFKWVWHUEHQVRQGHUQHUVDJWH¾(VZLUG,KQHQ OHLFKWHUVHLQ]XOHEHQ½ZDVLQGHVVHQIUPLFKLQPHLQHU /DJH EHLQDK GDVVHOEH LVW ,FK IUDJWH LKQ ZDV HU GHQQ PLW GHQ %lXPHQ YRQ GHQHQ HU IRUWZlKUHQG UHGHWH HLJHQWOLFK ZROOH XQGZDUXPHUPLUGLHVH%lXPHVRDXIGUlQJH±XQGHUIXKUYRQ LKP]XPHLQHU9HUZXQGHUXQJGDLFKVHOEVWDQMHQHP$EHQG JHlXHUW KlWWH LFK VHL QDFK 3DZORZVN JHNRPPHQ XP ]XP OHW]WHQPDO %lXPH ]X VHKHQ $OV LFK LKP EHPHUNWH HV VHL MD GRFK JDQ] JOHLFK RE LFK XQWHU %lXPHQ VWUEH RGHU PLW GHP %OLFN GXUFKV )HQVWHU DXI PHLQH %DFNVWHLQPDXHU XQG GD HV XP ]ZHLHU :RFKHQ ZLOOHQ VLFK QLFKW ORKQH EHVRQGHUH 8PVWlQGH ]X PDFKHQ VWLPPWH HU PLU VRJOHLFK EHL DEHU HU PHLQWHGDV*UQXQGGLHUHLQH/XIWZUGHQVLFKHUOLFKEHLPLU HLQH SK\VLVFKH 9HUlQGHUXQJ KHUYRUUXIHQ XQG PHLQH $XIUHJXQJ XQG PHLQH 7UlXPH ZUGHQ YLHOOHLFKW HLQHQ OLQGHUHQ &KDUDNWHU DQQHKPHQ ,FK HUZLGHUWH LKP ODFKHQG HU UHGH ZLH HLQ 0DWHULDOLVW (U DQWZRUWHWH PLU PLW VHLQHP /lFKHOQHUVHLLPPHUHLQ0DWHULDOLVWJHZHVHQ'DHUQLHOJW VLQG GLHVH :RUWH EHGHXWXQJVYROO 6HLQ /lFKHOQ LVW JXW XQG DQJHQHKP LFK KDEH LKQ MHW]W DXIPHUNVDPHU EHWUDFKWHW ,FK ZHLQLFKWRELFKLKQMHW]WJHUQKDEHRGHUQLFKWDEHULFKKDEH MHW]W NHLQH =HLW PLFK PLW GLHVHU )UDJH ]X EHVFKlIWLJHQ ,FK PX DEHU EHPHUNHQ GD PHLQ IQIPRQDWLJHU +D JHJHQ LKQ VLFKLPOHW]WHQ0RQDWJDQ]JHOHJWKDW:HUZHLYLHOOHLFKWELQ LFK QDFK 3DZORZVN KDXSWVlFKOLFK JHIDKUHQ XP LKQ NHQQHQ]XOHUQHQ $EHU ZHVKDOE KDEH LFK GDPDOV PHLQ =LPPHU YHUODVVHQ" :HU ]XP 7RGH YHUXUWHLOW LVW PX LQ VHLQHP :LQNHO EOHLEHQ XQG ZHQQ LFK MHW]W QLFKW HLQHQ GHILQLWLYHQ (QWVFKOX JHIDW KlWWH VRQGHUQ HQWVFKLHGHQ KlWWH GLH OHW]WH 6WXQGH DE]XZDUWHQ VR ZUGH LFK QDWUOLFK PHLQ
=LPPHU XP NHLQHQ 3UHLV YHUODVVHQ XQG VHLQHQ 9RUVFKODJ ]X LKP EHU]XVLHGHOQ XP LQ 3DZORZVN ]X ¾VWHUEHQ½ QLFKW DQQHKPHQ ,FKPXPLFKEHHLOHQXQGGLHVHJDQ]H(UNOlUXQJXQWHUDOOHQ 8PVWlQGHQ ELV PRUJHQ ]X (QGH EULQJHQ 6RPLW ZHUGH LFK NHLQH =HLW KDEHQ VLH QRFK HLQPDO GXUFK]XOHVHQ XQG ]X NRUULJLHUHQ LFK ZHUGH VLH HUVW PRUJHQ ZLHGHU GXUFKOHVHQ ZHQQLFKVLHGHP )UVWHQXQG]ZHLRGHUGUHL =HXJHQ GLH LFK EHLLKPYRU]XILQGHQKRIIH YRUOHVHQ ZHUGH 'D NHLQ :RUW GHU /JHGDULQVWHKHQZLUGVRQGHUQQXUGLHODXWHUH:DKUKHLWGLH OHW]WH IHLHUOLFKH :DKUKHLW VR ELQ LFK LP YRUDXV QHXJLHULJ ZHOFKHQ (LQGUXFN VLH DXI PLFK VHOEVW LQ GHU 6WXQGH XQG 0LQXWHPDFKHQZLUGZRLFKVLHYRUOHVHQZHUGHhEULJHQVZDU HV VLQQORV GLH :RUWH ¾GLH OHW]WH IHLHUOLFKH :DKUKHLW½ KHU]XVFKUHLEHQ IU ]ZHL :RFKHQ ORKQW HV VLFK VRZLHVR QLFKW ]XOJHQZHLOHVVLFKDXFKQLFKWORKQW]ZHL:RFKHQ]XOHEHQ GDVLVWGHUEHVWH%HZHLVGDIUGDLFKQXUGLHODXWHUH:DKUKHLW VFKUHLEHQ ZHUGH 1% ,FK PX PLU IROJHQGHQ *HGDQNHQ JHJHQZlUWLJ KDOWHQ ELQ LFK QLFKW HWZD LQ GLHVHP $XJHQEOLFN GDV KHLW ]HLWZHLOLJ YHUUFNW" 0DQ KDW PLU PLW %HVWLPPWKHLW JHVDJW GD 6FKZLQGVFKWLJH LP OHW]WHQ 6WDGLXP PLWXQWHU ]HLWZHLOLJGHQ9HUVWDQGYHUOLHUHQ,FKZLOOGDVPRUJHQEHLGHU 9RUOHVXQJPLWWHOVGHV(LQGUXFNVDXIGLH=XK|UHUNRQWUROOLHUHQ 'LHVH )UDJH PX MHGHQIDOOV ]X Y|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
*HGDQNHQ ]XUHFKWJHOHJW KDEH ZDKU RGHU QXU )LHEHUSKDQWDVLH LVW :HQQ LFK YRU ]ZHL 0RQDWHQ LQ GLH /DJH JHNRPPHQ ZlUH ZLH MHW]W PHLQ =LPPHU JDQ] YHUODVVHQ XQG YRQ GHU 0H\HUVFKHQ+DXVPDXHU$EVFKLHGQHKPHQ]XPVVHQVRZlUH LFK GDYRQ ELQ LFK EHU]HXJW GDUEHU WUDXULJ JHZHVHQ -HW]W DEHUHPSILQGHLFKQLFKWVXQGGRFKYHUODVVHLFKPRUJHQGLHVHV =LPPHU XQG GLHVH 0DXHU IU LPPHU $OVR KDW PHLQH h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±Q KDW QLFKWV ]X PLU JHVDJW XQG PLFK QLH JHVHKHQ DEHU PDQ KDW YRU HWZD HLQHU :RFKH HLQHQ 6WXGHQWHQ QDPHQV .LVORUSGRZ]XPLUJHIKUW ZDV VHLQH $QVFKDXXQJHQ DQODQJW LVWHU0DWHULDOLVW$WKHLVWXQG1LKLOLVWHEHQGHVZHJHQKDWWHLFK JHUDGH LKQ UXIHQ ODVVHQ LFK ZROOWH MHPDQG KDEHQ GHU PLU HQGOLFK RKQH IUHXQGOLFKH 6FKRQXQJ XQG RKQH DOOH 8PVWlQGH GLH QDFNWH :DKUKHLW VDJWH 'DV WDW HU GHQQ DXFK XQG ]ZDU QLFKW QXU EHUHLWZLOOLJ XQG RKQH 8PVWlQGH VRQGHUQ VRJDU PLW VLFKWOLFKHP 9HUJQJHQ ZDV PHLQHU $QVLFKW QDFK QLFKW Q|WLJ JHZHVHQ ZlUH (U VDJWH PLU JHUDGHKHUDXV LFK KlWWH QRFK XQJHIlKU HLQHQ 0RQDW ]X OHEHQ YLHOOHLFKW HWZDV PHKU ZHQQ LFKLQJQVWLJHlXHUH9HUKlOWQLVVHNlPHP|JOLFKHUZHLVHDEHU ZUGH LFK DXFK ZHLW IUKHU VWHUEHQ 6HLQHU 0HLQXQJ QDFK N|QQHLFKDXFKJDQ]SO|W]OLFKVWHUEHQ]XP%HLVSLHOJOHLFKDP
QlFKVWHQ7DJVROFKH)lOOHVHLHQYRUJHNRPPHQHUVW]ZHL7DJH YRUKHU KDEH HLQH VFKZLQGVFKWLJH MXQJH 'DPH LQ .RORQLQD GHUHQ =XVWDQG GHP PHLQLJHQ lKQOLFK JHZHVHQ VHL VLFK ]XUHFKWJHPDFKWXPDXIGHQ0DUNW]XJHKHQXQG/HEHQVPLWWHO HLQ]XNDXIHQ VLFK DEHU SO|W]OLFK XQZRKO JHIKOW VLFK DXI GDV 6RIDJHOHJWHLQHQ6HXI]HUDXVJHVWRHQXQGVHLJHVWRUEHQ$OV .LVORURGRZ PLU GLHV DOOHV PLWWHLOWH PDFKWH HU GHQ (LQGUXFN DOV UHQRPPLHUH HU HLQ ELFKHQ PLW VHLQHU *HIKOORVLJNHLW XQG 5FNVLFKWVORVLJNHLWXQGDOVJODXEHHUPLUHLQHEHVRQGHUH(KUH ]XHUZHLVHQLQGHPHUPLUQlPOLFKGDGXUFK]HLJHGDHUDXFK PLFK IU HLQ HEHQVROFKHV DOOHV QHJLHUHQGHV K|KHUHV :HVHQ KDOWH ZLH HU VHOEVW HLQHV VHL IU HLQ :HVHS GHP HV VHOEVWYHUVWlQGOLFKQLFKWVDXVPDFKH]XVWHUEHQ$EHUDP(QGH EOLHE GRFK ZLH HLQJHUDKPW GLH 7DWVDFKH HLQHQ 0RQDW XQG QLFKWHLQELFKHQPHKU'DHUVLFKQLFKWLUUWHGDYRQZDULFK EHU]HXJW (V KDW PLFK VHKU JHZXQGHUW ZLHVR GHU )UVW YRUKLQ HUUDWHQ KDW GD LFK ¾E|VH 7UlXPH½ KDEH HU VDJWH Z|UWOLFK ¾PHLQH $XIUHJXQJ XQG PHLQH 7UlXPH½ ZUGHQ VLFK LQ 3DZORZVN EHVVHUQ :LH NRPPW HU DXI PHLQH 7UlXPH" (QWZHGHU LVW HU 0HGL]LQHU RGHU HU EHVLW]W WDWVlFKOLFK HLQHQ XQJHZ|KQOLFKHQ 9HUVWDQGVRGDHUVHKUYLHOHV]XHUUDWHQYHUPDJ'DHUDEHU LP *UXQGH GRFK HLQ ¾,GLRW½ LVW GDUDQ NDQQ NHLQ =ZHLIHO EHVWHKHQ (V WUDI VLFK GD LFK JHUDGH YRU VHLQHU $QNXQIW HLQHQ KEVFKHQ 7UDXP JHKDEW KDWWH EULJHQV HLQHQ YRQ GHU $UW ZLH LFK VLH MHW]W ]X +XQGHUWHQ KDEH ,FK ZDU HLQJHVFKODIHQ ± LFK JODXEH HLQH 6WXQGH YRU VHLQHU $QNXQIW ± XQGVDKPLFKLQHLQHP=LPPHUDEHUQLFKWLQGHPPHLQLJHQ 'DV =LPPHU ZDU JU|HU XQG K|KHU DOV GDV PHLQH EHVVHU P|EOLHUWXQGKHOOGDULQVWDQGHQHLQ6FKUDQN HLQH .RPPRGH HLQ 6RID XQG PHLQ %HWW HLQ JURHV EUHLWHV %HWW PLW HLQHU JUQVHLGHQHQ 6WHSSGHFNH GDUDXI $EHU LQ GLHVHP =LPPHU EHPHUNWH LFK HLQ VFKUHFNOLFKHV 7LHU HLQH $UW 8QJHKHXHU (V
6WDGWWHLOLQ3HWHUVEXUJ
KDWWHbKQOLFKNHLWPLWHLQHP6NRUSLRQZDUDEHUNHLQ6NRUSLRQ VRQGHUQ ZLGHUZlUWLJHU XQG ZHLW IXUFKWEDUHU DQVFKHLQHQG HEHQGHVZHJHQZHLOHVVROFKH7LHUHLQGHU1DWXUQLFKWJLEWXQG ZHLO HV VLFK DEVLFKWOLFK JHUDGH EHL PLU HLQJHIXQGHQ KDWWH XQG ZHLO HEHQ GDULQ LUJHQGHLQ *HKHLPQLV ]X OLHJHQ VFKLHQ ,FK EHWUDFKWHWHHVVHKUJHQDXHVZDUHLQPLWHLQHUEUDXQHQ6FKDOH EHNOHLGHWHV.ULHFKWLHUXQJHIlKUYLHU:HUVFKRN ODQJDP.RSI HWZD ]ZHL )LQJHU GLFN QDFK GHP 6FKZDQ] ]X ZXUGH HV DOOPl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lUWLJ DQ]XVHKHQ ZDU ,FK KDWWH VFKUHFNOLFKH $QJVW HV N|QQWH PLFK VWHFKHQ PLU ZDU JHVDJW ZRUGHQ HV VHL JLIWLJ *DQ] EHVRQGHUV DEHU TXlOWH PLFK GHU *HGDQNH ZHU HV ZRKO LQ PHLQ =LPPHU JHVFKLFNW KDWWH ZDV PDQ PLU DQWXQ ZROOWH XQG ZRULQ GLHVHV *HKHLPQLV EHVWDQG 'DV 7LHU YHUVWHFNWH VLFK XQWHU GHU .RPPRGH XQWHU GHP 6FKUDQNXQGNURFKLQGLH(FNHQ,FK]RJPHLQH%HLQHDXIGHQ 6WXKO KLQDXI XQG VFKOXJ VLH XQWHU GHQ /HLE 'DV 7LHU OLHI VFKQHOO VFKUlJ GXUFK GDV JDQ]H =LPPHU XQG YHUVFKZDQG LUJHQGZR LQ GHU *HJHQG PHLQHV 6WXKOV 9ROOHU )XUFKW EOLFNWH LFK ULQJV XP PLFK DEHU GD LFK PLW XQWHUJHVFKODJHQHQ %HLQHQ
:HUVFKRN FP
GDVD VR KRIIWH LFK GD HV QLFKW ZHUGH DXI GHQ 6WXKO KHUDXINULHFKHQN|QQHQ3O|W]OLFKK|UWHLFKKLQWHUPLUIDVW EHL PHLQHP .RSI HLQ NQLVWHUQGHV *HUlXVFK LFK GUHKWH PLFK XP XQG VDK GD GDV 6FKHXVDO DQ GHU :DQG KLQDXINURFK VLFK VFKRQ LQ JOHLFKHU +|KH PLW PHLQHP .RSI EHIDQG XQG VRJDU PHLQH +DDUH PLW VHLQHP 6FKZDQ] EHUKUWH GHU VLFK PLW DXHURUGHQWOLFKHU *HVFKZLQGLJNHLW GUHKWH XQG ZDQG ,FK VSUDQJ DXI XQG LP JOHLFKHQ $XJHQEOLFN ZDU DXFK GDV 7LHU YHUVFKZXQGHQ$XIGDV%HWWPRFKWHLFKPLFKQLFKWOHJHQDXV )XUFKW HV N|QQWH XQWHU GDV .LVVHQ NULHFKHQ 'D WUDWHQ PHLQH 0XWWHU XQG HLQ %HNDQQWHU YRQ LKU LQV =LPPHU 6LH EHJDQQHQ DXI GDV JDUVWLJH 7LHU -DJG ]X PDFKHQ DEHU VLH ZDUHQ UXKLJHU DOV LFK XQG IUFKWHWHQ VLFK QLFKW HLQPDO 6LH NRQQWHQ MHGRFK QLFKWV EHJUHLIHQ $XI HLQPDO NDP GDV 8QWLHU ZLHGHU KHUYRUJHNURFKHQHVNURFKGLHVPDOVHKUVDFKWHXQGZDQGVLFK ZLH PLW EHVRQGHUHU $EVLFKW QXU ODQJVDP ZDV QRFK YLHO JUHXOLFKHU DXVVDK HV QDKP VHLQHQ :HJ ZLHGHU VFKUlJ GXUFK GDV=LPPHUQDFKGHU7UKLQ'D|IIQHWHPHLQH0XWWHUGLH7U XQG ULHI 1RUPD XQVHUH +QGLQ HLQHQ ULHVLJHQ VFKZDU]HQ ]RWWLJHQ 1HXIXQGOlQGHU VLH LVW YRU IQI -DKUHQ JHVWRUEHQ 1RUPDNDPLQV=LPPHUJHVWU]WXQGEOLHEYRUGHP5HSWLOZLH DQJHZXU]HOW VWHKHQ $XFK GLHVHV PDFKWH KDOW ZDQG VLFK DEHU LPPHUQRFKKLQXQGKHUXQGNUDW]WHPLWGHQ(QGHQGHU3IRWHQ XQG GHV 6FKZDQ]HV DXI GHP )XERGHQ KHUXP 7LHUH VLQG ZHQQ LFK QLFKW LUUH QLFKW LPVWDQGH HLQH P\VWLVFKH $QJVW ]X HPSILQGHQDEHULQGLHVHP$XJHQEOLFNVFKLHQHVPLUGRFKDOV REDXFKLQ1RUPDV$QJVWHWZDVVHKU8QJHZ|KQOLFKHVEHLQDK 0\VWLVFKHVODJXQGVLHHEHQVRZLHLFKDKQWHGDLQGHP7LHU HWZDV 9HUKlQJQLVYROOHV HLQ *HKHLPQLV VWHFNWH 6LH ZLFK ODQJVDPYRUGHP5HSWLO]XUFNGDVVDFKWHXQGYRUVLFKWLJDXI VLH ]XNURFK XQG ZLH HV VFKLHQ VLFK SO|W]OLFK DXI VLH VWU]HQ XQGVLHVWHFKHQZROOWH$EHUWURW]DOOHU$QJVWXQG REZRKO VLH DQ DOOHQ *OLHGHUQ ]LWWHUWH PDFKWH 1RUPD GRFK VFKUHFNOLFK JULPPLJH $XJHQ $XI HLQPDO IOHWVFKWH VLH ODQJVDP LKUH
IXUFKWEDUHQ =lKQH |IIQHWH ZHLW LKUHQ JHZDOWLJHQ URWHQ 5DFKHQGXFNWHVLFKSDWH JHVFKLFNW GLH (QWIHUQXQJ DE IDWH HLQHQ(QWVFKOXXQGSDFNWHSO|W]OLFKGDVJDUVWLJH7LHUPLWGHQ =lKQHQ 'LHVHV PDFKWH KHIWLJH %HZHJXQJHQ XP ]X HQWVFKOSIHQ VR GD 1RUPD HV QRFK HLQPDO MHW]W LP )OXJH JULIIXQGHV]ZHLPDOLPPHULP)OXJHPLWGHPJDQ]HQ5DFKHQ LQ VLFK KLQHLQ]RJ DOV ZROOWH VLH HV KLQXQWHUVFKOXFNHQ 'LH 6FKDOH NQDFNWH XQWHU LKUHQ =lKQHQ GHU 6FKZDQ] GHV 7LHUHV XQGGLH3IRWHQGLHDXVGHP0DXOKHUDXVUDJWHQEHZHJWHQVLFK PLW IXUFKWEDUHU *HVFKZLQGLJNHLW $XI HLQPDO EHJDQQ 1RUPD NOlJOLFK ]X ZLQVHOQ GDV 5HSWLO KDWWH HV GRFK QRFK IHUWLJJHEUDFKW VLH LQ GLH =XQJH ]X VWHFKHQ 9RU 6FKPHU] ZLQVHOQGXQGKHXOHQG |IIQHWH VLH GDV 0DXO XQG LFK VDK GD GDV ]HUELVVHQH TXHU LP 0DXO OLHJHQGH 5HSWLO VLFK QRFK EHZHJWHXQGDXVVHLQHPKDOE]HUTXHWVFKWHQ.|USHUDXI1RUPDV =XQJHHLQH0HQJHZHLHQ6DIWHVIORlKQOLFKGHP6DIWHLQHU ]HUGUFNWHQ VFKZDU]HQ 6FKDEH ,Q GLHVHP $XJHQEOLFNH ZDFKWHLFKDXIXQGGHU)UVWWUDWKHUHLQ 0HLQH +HUUHQ© VDJWH ,SSROLW LQGHP HU VHLQH 9RUOHVXQJ SO|W]OLFKXQWHUEUDFKXQGHLQEHVFKlPWHV*HVLFKWPDFKWH ªLFK KDEHHVQRFKQLFKWHLQPDOGXUFKJHOHVHQDEHULFKKDEHZLHHV VFKHLQW WDWVlFKOLFK YLHO hEHUIOVVLJHV KLQJHVFKULHEHQ 'LHVHU 7UDXP © ª-D GDV LVW ULFKWLJ© EHHLOWH VLFK *DQMD ]X EHPHUNHQª,FKPX]XJHEHQHVLVW]XYLHO3HUV|QOLFKHVGDEHL GDVKHLW'LQJHGLHHLJHQWOLFKQXUDXIPLFK%H]XJKDEHQ© $OV ,SSROLW GDV VDJWH VDK HU PGH XQG HUVFK|SIW DXV XQG ZLVFKWHVLFKPLWGHP7DVFKHQWXFKGHQ6FKZHLYRQGHU6WLUQ ª-D 6LH LQWHUHVVLHUHQ VLFK ]X VHKU IU VLFK VHOEVW© ]LVFKWH /HEHGHZ ª0HLQH +HUUHQ QRFK HLQPDO LFK Q|WLJH QLHPDQG ZHUQLFKW]XK|UHQZLOONDQQVLFKHQWIHUQHQ©ª(UMDJWXQVZHJ DXV HLQHP IUHPGHQ +DXV© EUXPPWH 5RJRVKLQ NDXP YHUQHKPEDU ª$EHU ZLH N|QQHQ ZLU GHQQ DOOH DXI HLQPDO DXIVWHKHQ XQG XQV HQWIHUQHQ"© VDJWH SO|W]OLFK )HUG\VFKWVFKHQNR GHU ELV GDKLQ QLFKW JHZDJW KDWWH ODXW ]X
UHGHQ ,SSROLW VFKOXJ GLH $XJHQ QLHGHU XQG JULII QDFK VHLQHP 0DQXVNULSW DEHU LQ GHUVHOEHQ 6HNXQGH KRE HU GHQ .RSI ZLHGHU XQG VDJWH PLW IXQNHOQGHQ $XJHQ XQG ]ZHL URWHQ )OHFNHQ DXI GHQ %DFNHQ LQGHP HU )HUG\VFKWVFKHQNR JHUDGH LQV*HVLFKWEOLFNWHª6LHN|QQHQPLFKJDUQLFKWOHLGHQ© 0DQ K|UWH /DFKHQ LQGHV ZDU HV QLFKW GLH 0HKU]DKO GLH ODFKWH ,SSROLW ZXUGH GXQNHOURW ª,SSROLW© VDJWH GHU )UVW ªPDFKHQ 6LH ,KU 0DQXVNULSW ]X XQG JHEHQ 6LH HV PLU XQG OHJHQ 6LH VHOEVW VLFK KLHU LQ PHLQHP =LPPHU VFKODIHQ :LU ZROOHQ EHYRU 6LH HLQVFKODIHQ QRFK HLQ ELFKHQ PLW ,KQHQ UHGHQXQGGDV*HVSUlFKGDQQPRUJHQIRUWVHW]HQDEHUXQWHUGHU %HGLQJXQJ GD 6LH GLHVH %OlWWHU QLH ZLHGHU DXIVFKODJHQ :ROOHQ 6LH GDV WXQ"© ª,VW GDV GHQQ P|JOLFK"© ULHI ,SSROLW LQGHPHULKQPLW ZLUNOLFKHU 9HUZXQGHUXQJ DQEOLFNWH ª0HLQH +HUUHQ© IXKU HU ZLHGHU LQ ILHEHUKDIWHU /HEKDIWLJNHLW IRUW ªGDV ZDU HLQ GXPPHU =ZLVFKHQDNW LQ GHP LFK PLFK QLFKW ULFKWLJ ]X EHQHKPHQ YHUVWDQG ,FK ZHUGH LQ GHU 9RUOHVXQJ NHLQH8QWHUEUHFKXQJPHKUHLQWUHWHQODVVHQ:HU]XK|UHQZLOO PDJ]XK|UHQ© (U WUDQN VFKQHOO HLQHQ 6FKOXFN :DVVHU DXV HLQHP *ODV VWW]WH VLFK DXI GHQ (OOERJHQ DXI GHQ 7LVFK XP VLFK YRU GHQ %OLFNHQ]XYHUEHUJHQXQGVHW]WHGDV9RUOHVHQKDUWQlFNLJIRUW 'DV*HIKOGHU %HVFKlPXQJ JLQJEULJHQVVFKQHOOYRUEHU ª'HU*HGDQNH©IXKUHUIRUW]XOHVHQªGDHVQLFKWORKQHHLQ SDDU:RFKHQ]XOHEHQNDPPLULQGHXWOLFKHU*HVWDOWZLHLFK PHLQH XQJHIlKU YRU HLQHP 0RQDW DOV LFK QXU QRFK YLHU :RFKHQ /HEHQ YRU PLU ]X KDEHQ JODXEWH DEHU PHLQHU Y|OOLJ EHPlFKWLJWKDWVLFKGLHVHU*HGDQNHHUVWYRUGUHL7DJHQDOVLFK YRQMHQHPLQ3DZORZVNYHUOHEWHQ$EHQGKHLPNHKUWH'HUHUVWH $XJHQEOLFN ZR PLFK GLHVHU *HGDQNH YROOVWlQGLJ XQG XQPLWWHOEDU GXUFKGUDQJ ILHO LQ GLH =HLW DOV LFK PLFK EHLP )UVWHQLQGHU9HUDQGDEHIDQG JHUDGHLQGLH =HLW DOV LFK PLW GHP /HEHQ HLQHQ OHW]WHQ 9HUVXFK ]X PDFKHQ JHGDFKWH
0HQVFKHQ XQG %lXPH VHKHQ ZROOWH LFK PDJ GDV DXFK VHOEVW DXVJHVSURFKHQ KDEHQ PLFK HUHLIHUWH IU %XUGRZVNLMV ¾PHLQHV 1lFKVWHQ½ 5HFKW HLQWUDW XQG LP VWLOOHQ GDYRQ SKDQWDVLHUWHDOOHGLHVH0HQVFKHQZUGHQDXIHLQPDOGLH$UPH DXVEUHLWHQ XQG PLFK DQ LKU +HU] GUFNHQ XQG PLFK ZHJHQ LUJHQG HWZDV XP 9HU]HLKXQJ ELWWHQ XQG LFK PHLQHUVHLWV VLH HEHQIDOOV NXU] LFK ZDU ]X JXWHU /HW]W HLQ XQIlKLJHU 'XPPNRSI 8QG VLHKH GD LQ GLHVHQ 6WXQGHQ IODPPWH LQ PLU ¾GLHOHW]WHhEHU]HXJXQJ½DXI ,FK ZXQGHUHPLFKMHW]WZLHLFK JDQ]H VHFKV 0RQDWH ODQJ RKQH GLHVH ¾hEHU]HXJXQJ½ KDEH OHEHQ N|QQHQ ,FK ZXWH SRVLWLY GD LFK GLH 6FKZLQGVXFKW KDWWH XQG GLHVH .UDQNKHLW EHL PLU XQKHLOEDU ZDU LFK WlXVFKWH PLFKQLFKWXQGEHJULIIGLH6DFKODJHNODU$EHUMHNODUHULFKVLH EHJULII XP VR NUDPSIKDIWHU EHJHKUWH LFK ]X OHEHQ LFK NODPPHUWH PLFK DQ GDV /HEHQ OHEHQ ZROOWH LFK OHEHQ XP MHGHQ 3UHLV ,FK JHEH ]X GD LFK GDPDOV GHP GXQNOHQ XQHUELWWOLFKHQ 6FKLFNVDO ]UQWH GDV EHVFKORVVHQ KDWWH PLFK ZLH HLQH )OLHJH WRW]XVFKODJHQ RKQH VHOEVW ]X ZLVVHQ ZDUXP DEHU ZDUXP KDEH LFK PLFK QLFKW ELV ]XP 6FKOX GDPLW EHJQJW OHGLJOLFK ]X ]UQHQ" :DUXP KDEH LFK WDWVlFKOLFK DQJHIDQJHQ ]X OHEHQ REZRKO LFK ZXWH GD LFK QLFKW PHKU DQIDQJHQ NRQQWH" :DUXP KDEH LFK HV YHUVXFKW REZRKO LFK ZXWH GD GD]X NHLQH =HLW PHKU ZDU" 'DEHL ZDU LFK DEHU QLFKW HLQPDO LPVWDQGH HLQ %XFK ]X OHVHQ XQG K|UWH ]X OHVHQ DXI ZR]X VROOWH LFK OHVHQ ZR]X QRFK .HQQWQLVVH IU VHFKV 0RQDWH HUZHUEHQ" 'LHVHU *HGDQNH EUDFKWH PLFK ZLHGHUKROW GD]XHLQ%XFKEHLVHLWH]XZHUIHQ -D GLHVH 0H\HUVFKH 0DXHU NDQQ YLHOHV HU]lKOHQ 9LHOHV KDEHLFKLQ*HGDQNHQDXIVLHJHVFKULHEHQ(VJDENHLQHQ)OHFN DXI GLHVHU VFKPXW]LJHQ 0DXHU GHQ LFK QLFKW DXVZHQGLJ JHZXW KlWWH 9HUIOXFKWH 0DXHU 8QG GRFK LVW VLH PLU WHXUHU DOV DOOH %lXPH LQ 3DZORZVN GDV KHLW VLH VROOWH PLU WHXUHU VHLQDOVDOOGLHVH%lXPHZHQQPLUQLFKWMHW]WDOOHVJOHLFKJOWLJ ZlUH
,FK HULQQHUH PLFK MHW]W PLW ZHOFKHP JLHULJHQ ,QWHUHVVH LFK GDPDOV DQILQJ GDV /HEHQ MHQHU ]X YHUIROJHQ HLQ VROFKHV ,QWHUHVVH ZDU PLU IUKHU IUHPG JHZHVHQ 8QJHGXOGLJ XQG VFKLPSIHQG ZDUWHWH LFK PDQFKPDO DXI .ROMD ZHQQ LFK VHOEVW VRNUDQNZDUGDLFKGDV=LPPHUQLFKWYHUODVVHQNRQQWH,FK HUNXQGLJWH PLFK VR JHQDX QDFK DOOHQ .OHLQLJNHLWHQ XQG LQWHUHVVLHUWH PLFK VR IU DOOH P|JOLFKHQ *HUFKWH GD LFK JHUDGH]X HLQ .ODWVFKPDXO ZXUGH ,FK NRQQWH ]XP %HLVSLHO QLFKWEHJUHLIHQZLHGLHVH 0HQVFKHQ GLH HLQ VR ODQJHV /HEHQ ]XU 9HUIJXQJ KDEHQ HV QLFKW YHUVWHKHQ UHLFK ]X ZHUGHQ EULJHQVEHJUHLIHLFKHVDXFKMHW]WQLFKW ,FK NDQQWH HLQHQ DUPHQ .HUO YRQ GHP PDQ PLU VSlWHU HU]lKOWHHUVHL+XQJHUVJHVWRUEHQXQGLFKHULQQHUHPLFKGD PLFK GLHV JDQ] DXV GHU )DVVXQJ EUDFKWH KlWWH PDQ GLHVHQ DUPHQ 0HQVFKHQ LQV /HEHQ ]XUFNUXIHQ N|QQHQ VR KlWWH LFK LKQJODXEHLFKKLQULFKWHQODVVHQ(VJLQJPLUPDQFKPDOJDQ]H :RFKHQODQJEHVVHUXQGLFKNRQQWHDXIGLH6WUDHJHKHQDEHU ZDVLFKDXIGHU6WUDHVDKYHUVHW]WHPLFKLQHLQHVRlUJHUOLFKH 6WLPPXQJ GD LFK JDQ]H 7DJH ODQJ DEVLFKWOLFK LP YHUVFKORVVHQHQ =LPPHUVDREJOHLFKLFK ZLH DOOH /HXWH KlWWH DXVJHKHQ N|QQHQ ,FK NRQQWH GLHVHV KLQ XQG KHU UHQQHQGH KDVWHQGHLPPHUVRUJHQYROOHPUULVFKHDXIJHUHJWH9RONQLFKW YHUWUDJHQ GDV DXI GHP *HKVWHLJ XP PLFK KHUXPZLPPHOWH :R]XLKUHHZLJH7UDXULJNHLW8QUXKHXQG*HVFKlIWLJNHLWLKUH HZLJH PUULVFKH %RVKHLW GHQQ VLH VLQG ERVKDIW ERVKDIW ERVKDIW :HU LVW VFKXOG GDUDQ GD VLH XQJOFNOLFK VLQG XQG QLFKW ]X OHEHQ YHUVWHKHQ REZRKO MHGHU YRQ LKQHQ VHFK]LJ /HEHQVMDKUH YRU VLFK KDW" :DUXP KDW 6DUQL]\Q HV GDKLQ NRPPHQ ODVVHQ GD HU +XQJHUV VWDUE REJOHLFK HU VHFK]LJ -DKUH YRU VLFK KDWWH" 8QG MHGHU ZHLVW DXI VHLQH DEJHWUDJHQH .OHLGXQJ KLQ XQG DXI VHLQH ]HUDUEHLWHWHQ +lQGH XQG LVW E|VH XQGVFKUHLW¾:LUDUEHLWHQZLHGLH2FKVHQXQGTXlOHQXQVDEHU ZLU VLQG KXQJULJ ZLH GLH +XQGH XQG DUP $QGHUH DUEHLWHQ QLFKWXQGTXlOHQVLFKQLFKWXQGVLQGUHLFK½'DVLVWGHUHZLJH
5HIUDLQ 8QG PLW LKQHQ ]XJOHLFK OlXIW VR HLQ XQJOFNOLFKHU -DPPHUPHQVFK¾DXVEHVVHUHU )DPLOLH½KHUXPXQG UDFNHUW VLFK YRP IUKHQ 0RUJHQ ELV ]XP VSlWHQ $EHQG DE LFK GHQNH DQ ,ZDQ)RPLWVFK6XULNRZGHULQXQVHUP+DXVEHUXQVZRKQW HU KDW LPPHU ]HUULVVHQH (OOERJHQ XQG GXUFKJHULHEHQH .Q|SIH XQG PDFKW IU DOOHUOHL /HXWH *lQJH XQG EHUQLPPW $XIWUlJH YRPIUKHQ0RUJHQELV]XPVSlWHQ$EHQG/lWPDQVLFKPLW LKP LQ HLQ *HVSUlFK HLQ GDQQ EHNRPPW PDQ ]X K|UHQ ¾,FK ELQDUPJHUDGH]XHLQ%HWWOHUPHLQH)UDXLVWPLUJHVWRUEHQLFK KDWWHNHLQ*HOGXPLKU0HGL]LQ]XNDXIHQXQGLP:LQWHULVW PLU HLQ NOHLQHV .LQG HUIURUHQ PHLQH lOWHVWH 7RFKWHU OHEW DOV 0lWUHVVH ½ 6R MDPPHUW XQG ZHLQW HU IRUWZlKUHQG 2K LFK KDEH NHLQ 0LWOHLG QLFKW GDV JHULQJVWH 0LWOHLG PLW GLHVHQ 'XPPN|SIHQ LFK KDEH MHW]W NHLQHV XQG KDEH HV DXFK IUKHU QLFKWJHKDEWGDVVDJHLFKPLW6WRO]:DUXPLVWHUGHQQ QLFKW VHOEVW HLQ 5RWKVFKLOG" :HU LVW VFKXOG GDUDQ GD HU QLFKW 0LOOLRQHQ EHVLW]W ZLH 5RWKVFKLOG GD HU QLFKW HLQHQ %HUJ JROGHQHU ,PSHULDOH XQG 1DSROHRQGRUV EHVLW]W HLQHQ VR KRKHQ %HUJ ZLH PDQ LKQ LQ GHU %XWWHUZRFKH LQ GHQ 6FKDXEXGHQ VLHKW" :HQQ HU OHEW VR VWHKW GDV GRFK DOOHV LQ VHLQHU 0DFKW :HULVWVFKXOGGDUDQGDHUGDVQLFKWEHJUHLIW" 2KMHW]WLVWPLUVFKRQDOOHVJOHLFKJOWLJMHW]WKDEHLFKNHLQH =HLW PHKU PLFK ]X lUJHUQ DEHU GDPDOV GDPDOV LFK ZLHGHUKROHHVlUJHUWHLFKPLFKXQGELWDWVlFKOLFKQDFKWVYRU :XW LQ PHLQ .RSINLVVHQ XQG ]HUUL PHLQH %HWWGHFNH 2K LQ ZDV IU 3KDQWDVLHQ HUJLQJ LFK PLFK GDPDOV ZLH VHKQOLFK ZQVFKWHLFKPDQP|FKWHPLFKGHQ$FKW]HKQMlKULJHQNDXP EHNOHLGHW DXI HLQPDO DXI GLH 6WUDH MDJHQ XQG PLFK GD JDQ] PLUVHOEVWEHUODVVHQRKQH:RKQXQJRKQH$UEHLWRKQHHLQHQ %LVVHQ %URW RKQH 9HUZDQGWH RKQH HLQHQ HLQ]LJHQ EHNDQQWHQ 0HQVFKHQLQGHUXQJHKHXUHQ6WDGWKXQJULJ]HUSUJHOWXPVR EHVVHU DEHUJHVXQGXQGGDKlWWHLFKJH]HLJW