8570$+5
',(6,5(1(1921'+$7$%$$5
,QGHQ0DUVFKHQYRQ/HXNDKDWWHHULKQ]XPHUVWHQPDOJHK|UWGHQ5XIGHU...
21 downloads
453 Views
510KB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
.8570$+5
',(6,5(1(1921'+$7$%$$5
,QGHQ0DUVFKHQYRQ/HXNDKDWWHHULKQ]XPHUVWHQPDOJHK|UWGHQ5XIGHUVLFKLKP LQGLH6HHOHEUDQQWH +HOIW PLU ,FK ELQ *LOJLG .URYRU KlOW PLFK JHIDQJHQ XP PHLQ 9RON ]X HUSUHVVHQ +HOIWPLU (U KDWWH GHQ 5XI HPSIDQJHQ ZlKUHQG HU JHPlFKOLFK GXUFK GLH 0DUVFKHQ NUHX]WH XQG PLW ZHLW RIIHQHQ 6HQVRUHQ GHQ *HGDQNHQVWU|PHQ ODXVFKWH GLH GXUFK GDV $OO IORVVHQ'HU5XIZDUQLFKWVRQGHUOLFKODXWJHZHVHQHKHUVFKZDFKXQG]XP7HLOYRQ DQGHUHQ *HGDQNHQJHUlXVFKHQ EHUODJHUW DOV NlPH HU DXV ZHLWHU )HUQH $EHU HV KDWWHLQGHQ:RUWHQHLQH'ULQJOLFKNHLWJHOHJHQGLHLKPDQV+HU]JLQJ(VZDUGLH 6WLPPHHLQHVZHLEOLFKHQ:HVHQVGLHHUJHK|UWKDWWH'HVVHQZDUHUVRVLFKHUZLHHLQ 7HOHSDWK VHLQHU 6DFKH QXU VHLQ NRQQWH 'LH %HZXWVHLQH GHQNHQGHU :HVHQ HEHQVR ZLH LKUH 0QGHU VSUHFKHQ YHUVFKLHGHQH 6SUDFKHQ 'HU 7HOHSDWK YHUVWHKW VLH DOOH VRODQJHVLHQLFKWDXVHLQHU0HQWDOLWlWKHUYRUJHKHQGLHGHUVHLQHQVRIUHPGLVWGD HU GHQ *HGDQNHQJlQJHQ QLFKW ]X IROJHQ YHUPDJ (U HUNHQQW DXFK 7RQIlOOH XQG GLH (PRWLRQHQ GLH VLFK LQ GHQ *HGDQNHQZRUWHQ VSLHJHOQ (U NDQQ -XQJH YRQ $OWHQ XQWHUVFKHLGHQ PlQQOLFKH :HVHQ YRQ ZHLEOLFKHQ )UHLOLFK OHJW HU GDEHL VHLQH HLJHQHQ 0DVWlEH DQ (U ZHL QLFKW ZLH GLH :HVHQ EHVFKDIIHQ VLQG GHUHQ *HGDQNHQHUHPSIlQJW =XHUVW PD HU GHP 5XI QLFKW YLHO %HGHXWXQJ EHL 'DV 8QLYHUVXP ZDU YROOHU 1RW YRU DOOHP KLHU LP 5HLFK GHU (ZLJHQ .ULHJHU ,Q MHGHU 6WXQGH GLH HU ODXVFKHQG YHUEUDFKWHHPSILQJHU'XW]HQGHYRQ1RWVFKUHLHQ:DUXPVROOWHDXVJHUHFKQHWGLHVHU HLQHLKQNPPHUQ" $EHUZl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|PH KDWWHQ EOLFKHUZHLVH NHLQH GHUDUW JURH 5HLFKZHLWH 9RP =HQWUXP GHU 6WHUQHQLQVHO 'KDWDEDDU ELV ]X GHQ 0DUVFKHQ YRQ /HXND ZDUHQ HV JXW ]ZHLKXQGHUWWDXVHQG /LFKWMDKUH .URYRU ZUGH GLH *HIDQJHQH QLFKW DXHUKDOE GHU *UHQ]HQ VHLQHV 5HLFKHV XQWHUJHEUDFKW KDEHQ (QWZHGHU ZDU *LOJLG HLQH DXVJHELOGHWH7HOHSDWKLQRGHUVLHKDWWHGHQ5XILQK|FKVWHU6HHOHQQRWDXVJHVWRHQ
=ZDQ]LJ 6WXQGHQ YHUJLQJHQ XQG PLW MHGHU 6WXQGH ZXUGH LKP GHXWOLFKHU GD HU *LOJLGQLFKWZUGHYHUJHVVHQN|QQHQ(UULFKWHWHGHQ.XUVVHLQHV6FKLIIHV,//2DXI GHQ QlFKVWHQ .QRWHQ GHV 3VLRQLVFKHQ 1HW]HV XQG VHW]WH DQ GHU GRUWLJHQ ,QIRUPDWLRQVVWHOOHGLH1DFKULFKWDE )HOOPHU/OR\GLQSULYDWHU$QJHOHJHQKHLWDXIGHP:HJQDFK0HGLGRRU 0LWNUlIWLJHU%HVFKOHXQLJXQJVHW]WHGLH,//2VLFKLQ0DUVFK:HKPWLJUXKWHGHU %OLFN GHV 0XWDQWHQ DXI GHQ OHXFKWHQGHQ )OlFKHQ GHU OHXNDQLVFKHQ 0DUVFKHQ (U ZUGHVLHVREDOGQLFKWZLHGHU]X*HVLFKWEHNRPPHQGDVZXWHHU 'DVZDVPDQGLH0DUVFKHQYRQ/HXNDQDQQWHZDUHLQPHKUHUH'XW]HQG/LFKWMDKUH ZHLWHV )HOG LQWHUVWHOODUHU *DVPDVVHQ (V KDWWH VLFK XQWHU GHP (LQIOX GHU *UDYLWDWLRQ GLH LQ GLHVHP $EVFKQLWW GHU *DOD[LV (UHQG\UD KHUUVFKWH ]X HLQHP IODFKHQ EUHWWI|UPLJHQ *HELOGH JHIRUPW 8QWHU GHP )HOG G K DXI JHULQJHUHU +|KHYRP=HQWUXP(UHQG\UDVDXVJHVHKHQEUDQQWH/HXNDPLWYHU]HKUHQGHU*OXW /HXND ZDU HLQ KHOOEODXHU *LJDQW GHU 6SHNWUDONODVVH ZDKUVFKHLQOLFK GDV VWUDKOXQJVLQWHQVLYVWH *HVWLUQ LQ JDQ] (UHQG\UD 8QWHU /HXNDV (LQIOX KDWWHQ GLH LRQLVLHUWHQ*DVPDVVHQ]XOHXFKWHQEHJRQQHQ$XVJHK|ULJHU(QWIHUQXQJEHWUDFKWHW ERWHQ VLH GDV %LOG HLQHU (EHQH GXUFK GLH HLQ PlFKWLJHU 6WURP VLFK DXI GDV 0HHU ]XZlO]W %DKQHQ VFKZHUHU ]X LRQLVLHUHQGHU XQG GDKHU GXQNOHUHU *DVH PDUNLHUWHQ GHU9HUODXIGHV6WURPVXQGVHLQHU9HUlVWHOXQJHQGLHGDV0QGXQJVGHOWDELOGHWHQ 'LH OHXFKWHQGHQ )OlFKHQ ]X EHLGHQ 6HLWHQ GHU 8IHU ZHFNWHQ VHOEVW LP +HU]HQ GHVVHQGHUPLWZHQLJ3KDQWDVLHEHJDEWZDU(ULQQHUXQJHQDQZHLWHJUDVLJH)HOGHU 0LWXQWHUZHLWHWHQVLFKGLH%DKQHQGHUGXQNOHUHQ*DVVFKLFKWHQXQGHUZHFNWHQGHQ (LQGUXFNGHU6WURPWUHWHEHUGLH8IHU 'DKHUNDPGHU1DPHGLH0DUVFKHQYRQ/HXND8QGDP5DQGGHU0DUVFKHQODJGDV 6\VWHPGHU6RQQH'LGRRU]XGHUHQ3ODQHWHQVFKDUGLH:HOW0HGLGRRUJHK|UWHGHU 3ODQHW GHU +lQGOHU (U ZDU )HOOPHU /OR\GV =LHO :HQQ EHUKDXSW LUJHQGZR ]X HUIDKUHQZDUZDVHVPLW*LOJLGDXIVLFKKDWWHGDQQGRUW 9RQ GRUW ZR )HOOPHU /OR\G ]XOHW]W GLH 6FK|QKHLW GHV OHXNDQLVFKHQ 0DUVFKHQ EHZXQGHUW KDWWH ELV QDFK 'LGRRU ZDUHQ HV DFKWXQGGUHLLJ /LFKWMDKUH (U KDWWH MHGRFK QLFKW GLH $EVLFKW GLH :HOW GHU +lQGOHU DXI KHUN|PPOLFKHP :HJ DQ]XIOLHJHQ (U ZDU HLQ *lQJHU GHV 1HW]HV ,KP VWDQGHQ DQGHUH 0HWKRGHQ GHU )RUWEHZHJXQJ]XU9HUIJXQJ'LH,//2EHZHJWHVLFKLP(QHUSVL0RGXV5LQJVXP )HOOPHU /OR\G ODJ GDV 8QLYHUVXP DXVJHEUHLWHW ZLH HV VLFK GHQ $XJHQ GHV 3VL 5HLVHQGHQ GDUERW YROO JUHOOHU VWlQGLJ EHZHJWHU )DUEHQ 7DX VHQGH YRQ -DKUHQ NRVPLVFKHU (QWZLFNOXQJ LQ VHNXQGHQVFKQHOOHQ %HZHJXQJVDEOlXIHQ ]XVDPPHQIDVVHQG GXUFK]RJHQ YRQ GHQ JUQOLFK OHXFKWHQGHQ )HOGVWUlQJHQ GHV 3VLRQLVFKHQ 1HW]HV 'LH 6WUlQJH GHV 1HW]HV ZDUHQ 9HUNHKUVZHJH GLH EODVVHQ IU 5DXPVFKLIIHPLW(QHUSVL$QWULHEGLHNUlIWLJJUQHQIUGLHGLHGHQ$EGUXFNGHV (LQYHUVWlQGQLVVHVHUKDOWHQKDWWHQIUGLH*lQJHUGHV1HW]HV
0HGLGRRU ODJ LP (LQIOXEHUHLFK HLQHV 3UlIHUHQ]VWUDQJV GHU LQ VPDUDJGHQHP *UQ OHXFKWHWH 6RYLHO ZXWH )HOOPHU /OR\G YRQ VHLQHQIUKHUHQ%HVXFKHQDXIGHU:HOW GHU +lQGOHU (U IDQG HLQH SODQHWHQORVH 'RSSHOVRQQH ]ZHL DQQlKHUQG JOHLFK PDVVLYH 6WHUQH GLH LQ JHULQJHP $EVWDQG YRQHLQDQGHU ZLH HLQH LQ 6FKZXQJ YHUVHW]WH +DQWHO URWLHUWHQ GLH VLFK HEHQIDOOV LQQHUKDOE GHU (LQIOXVSKlUH GHV 6WUDQJHV EHIDQG ,Q XQPLWWHOEDUHU 1l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lKHUQNRQQWH'LH,//2ZUGH MHGHXQEHIXJWH$QQlKHUXQJ]XUFNZHLVHQ 'HU0XWDQWNRQ]HQWULHUWHVLFKDXIGHQYRULKPOLHJHQGHQ$EVFKQLWWVHLQHU5HLVH(U WUXJ GLH KHOOJUDXH $OO]ZHFNPRQWXU GHU 1HW]JlQJHU GLH 1HW]NRPELQDWLRQ GHUHQ ZLFKWLJVWHU%HVWDQGWHLOGHU3LNRFRPSXWHUZDUHLQDXVHLQHU%DWWHULHYRQ6\QWURQV ]XVDPPHQJHVHW]WHV &RPSXWHUV\VWHP )HOOPHU /OR\G VFKOR GHQ +HOP XQG DNWLYLHUWH GDV /HEHQVHUKDOWXQJVV\VWHP 'DV ZDU XQWHU GHQ *lQJHUQ GHV 1HW]HV 5RXWLQH ZHQQ VLH VLFK DXI HLQHQ SHUV|QOLFKHQ 6SUXQJ YRUEHUHLWHWHQ 'DV 3VLRQLVFKH1HW]ZDULPDOOJHPHLQHQHLQ]XYHUOlVVLJHV9HUNHKUVPHGLXP$EHUKLQ XQG ZLHGHU JDE HV 8QIlOOH 'HU 1HW]JlQJHU GHU DXV VHLQHP 6WUDQJ JHVFKOHXGHUW ZXUGH XQG LP 9DNXXP GHV LQWHUVWHOODUHQ 5DXPV PDWHULDOLVLHUWH WDW JXW GDUDQ GDV 6FKXW]V\VWHPGHU1HW]NRPELQDWLRQYROOLQ*DQJ]XKDEHQ ³0HGLGRRUVDJWH)HOOPHU/OR\G ³6FKRQZLHGHU"EHVFKZHUWHVLFKGHU6\QWURQ ³+DOWGHQ0XQGXQGVWHOOGLH9HUELQGXQJKHUZLHVGHU0XWDQWLKQ]XUHFKW 6\QWURQV ZDUHQ HLJHQZLOOLJH .UHDWXUHQ PLW HLJHQHU ,QWHOOLJHQ] DXVJHVWDWWHW 1DWUOLFKKDWWHQVLHVLFKGHQ:QVFKHQLKUHV%HVLW]HUVXQWHU]XRUGQHQDEHUHVNDP GXUFKDXVYRUGDVLHVLFKHLQH=HLWODQJVW|UULVFKVWHOOWHQ*lQJHUGHV1HW]HVZDUHQ JHZ|KQOLFKDOOHLQXQWHUZHJV'HU6\QWURQKDWWHQLFKW]XOHW]WGLH$XIJDEHLKQHQDOV *HVSUlFKVSDUWQHU]XGLHQHQ ³$OVRJXWZHQQHVXQEHGLQJWVHLQPXVHXI]WHGLHSHUIHNWQDFKGHU6SUHFKZHLVH HLQHV lOWHUHQ XQ]XIULHGHQHQ 0DQQHV V\QWKHWLVLHUWH 6WLPPH ³.RRUGLQDWHQ OLHJHQ YRU'HU2UJRZHL%HVFKHLG 'HU2UJRZDUGLHRUJDQLVFKH$XVJDEHHLQKHLWGHV6\QWURQVMHQHV(OHPHQWDOVRGDV XQPLWWHOEDUPLWGHQ.RQWUROORUJDQHQGHV3VLRQLVFKHQ1HW]HVNRUUHVSRQGLHUWH )HOOPHU VFKOR GLH $XJHQ XQG VDK LP *HLVW YRU VLFK GDV EXQWH :HOWDOO GHV 3VL 5DXPV(UVSUWHZLHGLHXQKHLPOLFKH.UDIWGHV3VLRQLVFKHQ1HW]HVLKQHUIDWHXQG GDYRQWUXJ
(UZDUXQWHUZHJV =X)HQGHV0XWDQWHQEUHLWHWHVLFKGLHIUXFKWEDUH(EHQHDXV'XUFKGDV:HLQURW XQG 7UNLV GHU SSLJ ZXFKHUQGHQ 9HJHWDWLRQ VFKLPPHUWH KLHU XQG GD GDV :HL RGHU GDV JUHOOH *HOE HLQHV 'RRUL+DXVHV 'RRUL QDQQWHQ VLFK GLH HLQJHERUHQHQ %HZRKQHU GHU +DQGHOVZHOW 0HGLGRRU EHVD DXHUGHP QRFK HLQH ]DKOHQVWDUNH )UHPGEHY|ONHUXQJ GLH VLFK DXV GHQ $QJHK|ULJHQ YLHOHU 9|ONHU GHV 5HLFKHV GHU =Z|OI *DOD[LHQ ]XVDPPHQVHW]WH 'DV VFKHLQW HLQ 1DWXUJHVHW] YRQ XQLYHUVDOHU *HOWXQJ]XVHLQ'HU+DQGHO]LHKW)UHPGHDQ 'LH 'RRUL YHUDFKWHWHQ %DOOXQJV]HQWUHQ ZLH 6WlGWH XQG 6LHGOXQJVJHPHLQVFKDIWHQ 6LHZDUHQ,QGLYLGXDOLVWHQGDEHLMHGRFKNHLQHVZHJVNRQWDNWIHLQGOLFK6LHZDUHQLP *HJHQWHLO HLQ K|FKVW JHVHOOLJHV 9RON $EHU GLH HLJHQHQ YLHU :lQGH PHLQWHQ VLH PWHQGRFKZHQLJVWHQVIQI*HKPLQXWHQYRQGHQ:lQGHQGHV1DFKEDUQHQWIHUQW VHLQ $XIJUXQG GHV :RKOVWDQGV GHQ VLH VLFK GXUFK +DQGHO HUZRUEHQ KDWWHQ XQG PLW+LOIHGHU7HFKQLNGLHVLHIUWHXUHV*HOGDXVZlUWVHLQNDXIWHQNRQQWHQVLHVLFK HLQH GH]HQWUDOLVLHUWH /HEHQVZHLVH OHLVWHQ 6WlGWH VDJWHQ VLH DEIl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|PPOLQJHRGHU 9RJHOlKQOLFKH EH]HLFKQHWH 'HU 0HQVFK PVVH VLFK YRQ EHUNRPPHQHQ VLPSOL]LVWLVFKHQ9RUVWHOOXQJHQDEZHQGHQXQGGLH1DFKEDUNUHDWXUDXIGHU%DVLVLKUHV HLJHQHQ:HVHQVQLFKWDQKDQGWHUUDQLVFKHU9RUELOGHUQRFKGD]XDXVGHU7LHUZHOW FKDUDNWHULVLHUHQ 'DVVRHUVFKLHQHV)HOOPHU/OR\GZDUHLQHKHKUH3KLORVRSKLH1XUJLQJVLHY|OOLJDQ GHQ *HZRKQKHLWHQ GHV 0HQVFKHQ YRUEHL 'HU +RPR VDSLHQV KLHOW QLFKWV GDYRQ HLQHP =XK|UHU GDV $XVVHKHQ HLQHV 7RSVLGHUV ELV DXI GLH 6WHOOXQJ GHU $XJHQ GLH )RUPGHV6FKlGHOVXQGGLH7H[WXUGHU+DXW]XEHVFKUHLEHQZHQQHUYLHOHLQIDFKHU VDJHQ NRQQWH ³6LHKVW DXV ZLH HLQH JURH DXIUHFKW JHKHQGH (LGHFKVH $OV NRVPRVR]LDOXQUHLIZROOWHHUDXIGHUDQGHUHQ6HLWHDXFKQLFKWJHOWHQ$OVROHLVWHWH HU GHU YRUQHKPHQ 3KLORVRSKLH JHJHQEHU /LSSHQGLHQVWH LQGHP HU VLFK $XVGUFNH ZLH OD]HUWRLG HFKVHQlKQOLFK RGHU RPLWKRLG YRQ 9|JHOQ DEVWDPPHQG DQJHZ|KQWH $XI GLHVH :HLVH ZXUGH GHU EHOHLGLJHQGH 9HUJOHLFK PLW $UWHQ GHU 7LHUZHOW XPJDQJHQ 'HQQ GLH 6SUDFKHQ DXV GHQHQ GLH .XQVWDXVGUFNH VWDPPWHQ EHKHUUVFKWHNDXPHLQHUPHKU
'LH 'RRUL DOVR ZDUHQ KLSSRLG ZREHL VLFK GHU 9HUJOHLFK PLW GHU WHUUHVWULVFKHQ *DWWXQJ3IHUGDOOHLQDXIGLH)RUPGHV6FKlGHOVEH]RJ'HU+LQWHUNRSIVFKOREQGLJ PLW GHP 1DFNHQ DE 'HU YRUGHUH 7HLO GHV 6FKlGHOV UDJWH ZHLW QDFK YRUQH XQG ZDU GHUDUWPDVVLYGDVLFKGLHLPEULJHQVFKODQNXQGJUD]LOJHEDXWHQ'RRULHLQHUGHQ %DXFK QDFK YRUQH VFKLHEHQGHQ GLH 6FKXOWHUQ QDFK KLQWHQ ]LHKHQGHQ 6WHK XQG *HKZHLVH EHIOHLLJWHQ XP GHQ *HVDPWN|USHU LP *OHLFKJHZLFKW ]X KDOWHQ 6LH ZDUHQ IU PHQVFKOLFKH %HJULIIH ODQJEHLQLJ EHVRQGHUV GLH ZHLEOLFKHQ :HVHQ GLH 0HQQL JHQDQQW ZXUGHQ ZlKUHQG VLFK GLH PlQQOLFKHQ :RQND JHQDQQW 6LQJXODU :RQDN GXUFKEUHLWH6FKXOWHUQXQGNUlIWLJH$UPHDXV]HLFKQHWHQ$QGHQ+lQGHQ EHVDHQ VLH DQVWHOOH GHU )LQJHU VHQVLWLYH +DXWODSSHQ GLH VLH VHKU GLIIHUHQ]LHUW ]X JHEUDXFKHQZXWHQ 2E GLH 'RRUL HLQH 5HOLJLRQ EHVDHQ KDWWH )HOOPHU /OR\G ELVKHU QLFKW HUPLWWHOQ N|QQHQ6LHZDUHQHLQUHLFKHVVHOEVWEHZXWHV+lQGOHUYRONXQGDXIGHP%RGHQGHV 5HLFKWXPV XQG GHV 6HOEVWEHZXWVHLQV ZlFKVW 5HOLJLRVLWlW QXU PLW 0KH (LQH JHZLVVH/RFNHUKHLWGHU6LWWHQZDUGHP0XWDQWHQGDJHJHQGXUFKDXVDXIJHIDOOHQXQG DXFKGLHVVFKULHEHUGHP8PVWDQG]XGDZHUNHLQH6RUJHQKDWOHLFKWGHU)ULYROLWlW DQKHLPIlOOW (KHOLFKH %LQGXQJHQ JDE HV QLFKW NXU]IULVWLJH $OOLDQFHQ ZDUHQ DQ GHU 7DJHVRUGQXQJ 9LHOOHLFKWWUXJGDV.OLPDGD]XEHL%LV]XGHQ3RODU]RQHQKLQDXIZDUHVZDUPXQG IHXFKW'LH$WPRVSKlUHKDWWHHLQHQJHULQJHUHQ6DXHUVWRIIJHKDOWDOVGLHLUGLVFKHZDV ]XZHLWYHUEUHLWHWHU7UlJKHLW$QODJDE'LH'RRULDOOHUGLQJVPHLQWH)HOOPHU/OR\G QHLJWHQ ]XU hEHUNRPSHQVDWLRQ 6LH JDEHQ VLFK WUlJHU DOV DQKDQG GHU YHUULQJHUWHQ 6DXHUVWRIINRQ]HQWUDWLRQ ]XYHUWUHWHQZDUXQGVHW]WHQGLH(QHUJLHGLHVLHDXIGLHVH :HLVHVSDUWHQLQJHVWHLJHUWH3URPLVNXLWlWXP )HOOPHU/OR\GZDUDP|VWOLFKHQ+DQJGHU%HUJHJHODQGHW(UNDQQWHGLH*HJHQG'DV QlFKVWH'RRUL+DXVVWDQG]HKQ.LORPHWHUHQWIHUQW(LQHGHUJUHOOJHOEHQ0DXHUQGLH HUXQWHQLP7DOGXUFKGDVEXQWH/DXEZHUNVFKLPPHUQVDKJHK|UWH]XP*lVWHXQG *HVHOOVFKDIWVNRPSOH[1$/,.,:$+ZDV)UHXGHDP/HEHQEHGHXWHWH'HU0XWDQW ZDU GRUW EHL HLQHP VHLQHU IUKHUHQ %HVXFKH XQWHUJHNRPPHQ 0DQ ZUGH LKQ QRFK NHQQHQ ,P+DXSWJHElXGHGHV1DOLNL:DKVXFKWHHU]XQlFKVWHLQHQGHU+lQGOHUDXIGLHGRUW LKUH VWlQGLJHQ .RQWRUH KDWWHQ (U PXWH VLFK PLW |UWOLFK YHUZHQGEDUHQ )LQDQ]PLWWHOQ YHUVHKHQ ,Q GHU 9HUJDQJHQKHLW KDWWH HU EHL *HOGHUZHUEVJHVFKlIWHQ JXWH (UIDKUXQJHQ PLW +lQGOHUQ DXV GHP 9RON GHU (SWXVDG JHPDFKW 'LH (SWXVDG ZDUHQ DQQlKHUQG PHQVFKHQlKQOLFK LP 'XUFKVFKQLWW 0HWHU JUR PLW KDDUORVHP6FKlGHOXQGJURHQVWHLODXIJHULFKWHWHQ2KUHQ,KUH+HLPDWZHOWZDUHLQH GHUZLFKWLJVWHQ%DVHQGHV(ZLJHQ.ULHJHUV.DKQHUGHUEHU(UHQG\UDKHUUVFKWHXQG GLH(SWXVDGLQVJHVDPWVHFKV0LOOLDUGHQELOGHWHQGHP]XIROJHHLQH*HVHOOVFKDIWGLH JDQ] XQG JDU LP %DQQ GHV .ULHJHUNRGH[ VWDQG ,QWHUHVVDQW ZDU LQ GLHVHP =XVDPPHQKDQJ ]X HUZlKQHQ GD GLH :HOW (SWX QRFK YRU ZHQLJHQ -DKUKXQGHUWHQ
GDVKHLWEHYRU.DKQHUVLH]XHLQHPVHLQHU+DXSWVWW]SXQNWHPDFKWHGLH+HLPDW YRQPHKUDOV]HKQ0LOOLDUGHQ(LQZRKQHUQJHZHVHQZDU 'DV.RQWRUZDUOHHUDOV)HOOPHU/OR\GHLQWUDW$EHUGLH7UKDWWHVLFKQRFKQLFKW KLQWHU LKP JHVFKORVVHQ GD NDP DXV HLQHP VHLWOLFK DQJHRUGQHWHQ 9HUVFKODJ ZLHVHOIOLQNGHU(LJHQWPHUGHV%URVKHUYRUJHKXVFKW(UZLHVDXIHLQHQ6HVVHOLQ GHPGHU.XQGH3ODW]QHKPHQVROOWHXQGOLHVLFKLKPJHJHQEHUQLHGHU³*HJUHW VHLVW GX ZHUWHV .XQGHQSRWHQWLDO VDJWH HU PLW KHOOHU 6WLPPH DXI 6RWKDON ³=X ZHOFKHP9RUWHLONDQQLFKGLUYHUKHOIHQ" 6RWKDONZDUGLH6SUDFKHGHU(ZLJHQ.ULHJHU6LHZDUGLHOLQJXDIUDQFDLP5HLFK GHU =Z|OI *DOD[LHQ (LQHQ HLQKHLPLVFKHQ .XQGHQ KlWWH GHU (SWXVDG DXI 'RRUL DQJHVSURFKHQ$EHUHVOLHVLFKOHLFKWHUNHQQHQGD)HOOPHU/OR\GNHLQ'RRULZDU ³,FK EUDXFKH |UWOLFK =DKOXQJVPLWWHO DQWZRUWHWH GHU 0XWDQW ³,FK P|FKWH GD GX PLUHLQ.RQWRHLQULFKWHVW ³,FK ELQ 7KXVDOIDQT GHU VHOEVW GDV 8QP|JOLFKH P|JOLFK PDFKW HUNOlUWH GHU .OHLQH PLW XQEHUK|UEDUHP 6WRO] ³,Q ZHOFKHU +|KH VROO LFK GLU HLQ .RQWR HLQULFKWHQXQGZDVJHGHQNVWGXDOV*HJHQZHUW]XELHWHQ" )HOOPHU /OR\G JULII LQ HLQH GHU ]DKOUHLFKHQ 7DVFKHQ GHU 1HW]NRPELQDWLRQ XQG EUDFKWHHLQDOV&DERFKRQJHVFKOLIIHQHV6WFNEODXHV0LQHUDO]XP9RUVFKHLQ ³'DVKLHUVDJWHHU 'LHRKQHKLQVFKRQJURHQ$XJHQGHV(SWXVDGZXUGHQQRFKJU|HU(UVFKQDO]WHPLW GHQ)LQJHUQZRUDXIKLQDQGHU'HFNHHLQ/LFKWDXIIODPPWHGDVDXI)HOOPHU/OR\GV +DQG ]LHOWH 'HU 6WHLQ HUZDFKWH ]XP /HEHQ (U IXQNHOWH LQ OHXFKWHQGHP %ODX HU VFKLHQ %OLW]H ]X YHUVSUKHQ 7KXVDOIDQT VWUHFNWH HLQH VHFKVILQJULJH +DQG DXV DOV ZROOH HU VHLQHP .XQGHQ GDV NRVWEDUH 6WFN DEQHKPHQ ,P OHW]WHQ $XJHQEOLFN EHVDQQHUVLFKMHGRFKHLQHV%HVVHUHQ(U]RJGLH+DQGZLHGHU]XUFN ³,FKZHLPLUGHLQH.XQGVFKDIW]XVFKlW]HQVDJWHHU³$EHUHLQHVP|FKWHLFKGRFK ZLVVHQ:DUXPELVWGXDXVJHUHFKQHW]XPLUJHNRPPHQ" ³,FK KDEH IUKHU VFKRQ PLW +lQGOHUQ YRQ (SWX *HVFKlIWH JHPDFKW OlFKHOWH )HOOPHU/OR\G³'DEHLKDEHLFKGHQ(LQGUXFNJHZRQQHQGDVLHHKUOLFKVLQG 'DV.RPSOLPHQWVFKLHQDXI7KXVDOIDQTZHQLJ(LQGUXFN]XPDFKHQ ³'X ZHLW ZDV GDV LVW" IUDJWH HU XQG GHXWHWH DXI GHQ 6WHLQ GHQ GHU 0XWDQW QDFK ZLHYRU]ZLVFKHQGHQ)LQJHUQKLHOW ³,FKZlUHHLQ1DUUZHQQLFKHVPLWPLUKHUXPWUJHXQGHVQLFKWZWHDQWZRUWHWH GHU0XWDQW³(VLVWHLQ7DQ[LW ³5HLQVWHQ :DVVHUV EHJHLVWHUWH VLFK 7KXVDOIDQT ³'HU 6WHLQ GHU .|QLJH QLFKW V\QWKHWLVLHUEDU XQG QXU DXI HLQHP ZLQ]LJHQ 3ODQHWHQ LP %HUHLFK GHU =Z|OI *DOD[LHQ JHIXQGHQ (LQ 1DUU ZHU LKQ VR JHVFKOLIIHQ KDW (U JHK|UW IDFHWWLHUW XQG ³2K GDUXP PDFKH LFK PLU NHLQH 6RUJH ILHO )HOOPHU /OR\G GHP %HJHLVWHUWHQ LQV :RUW³(ULVWJURJHQXJ:HULKQYRQPLUHUZLUEWZLUGLKPGHQ6FKOLIIDQJHGHLKHQ ODVVHQ GHQ HU YHUGLHQW ,Q GHU =ZLVFKHQ]HLW LVW HU DOV &DERFKRQ OHLFKWHU ]X
WUDQVSRUWLHUHQ ³:HLWGXZLHYLHO+lQGOHUYHUVXFKWKlWWHQGLUHLQ]XUHGHQHVVHLQXUHLQ6DQVDPDULW JHUDGHZHJHQGHV6FKOLIIV"IUDJWH7KXVDOIDQT ³9LHOHVDJWHGHU0XWDQW³'HVZHJHQELQLFK]XGLUJHNRPPHQ (U KDWWH ELV MHW]W GDUDXI YHU]LFKWHW LQ GHQ *HGDQNHQ GHV (SWXVDG ]X IRUVFKHQ 7KXVDOIDQT ZDU HKUOLFK GDUDQ JDE HV QLFKW GHQ JHULQJVWHQ =ZHLIHO 6LH VSUDFKHQ QRFKHLQH=HLWODQJEHUGHQNRVWEDUHQ6WHLQ'DQQHLQLJWHQVLHVLFKGDUDXIGDGHU +lQGOHU GHP 0XWDQWHQ HLQ .RQWR PLW GHP VRIRUW YHUIJEDUHQ %HWUDJ YRQ HLQHU 9LHUWHOPLOOLRQ*\DULWHLQULFKWHQZUGH'DVZDUPHKUDOV)HOOPHU/OR\GVHOEVWEHL XQEHGDFKWHU /HEHQVZHLVH ZlKUHQG HLQHV 0HGLGRRU-DKUHV DXVJHEHQ NRQQWH 'DEHL ZROOWHHUVLFKKLHUK|FKVWHQVHLQSDDU7DJHDXIKDOWHQ(UPDFKWHVLFKGHVZHJHQNHLQH 6RUJHQ :HQQ VHLQH =HLW XP ZDU ZUGH HU ]X 7KXVDOIDQT ]XUFNNHKUHQ XQG YRQ GLHVHPIUGHQ5HVWEHWUDJ:DUHHLQKDQGHOQGLHHUDQGHUVZRZLHGHUXP]XP(UZHUE YRQ*HOGPLWWHOQYHUZHQGHQNRQQWH (UHUKLHOWHLQH'HELWPDUNHGLHHUEHUDOODXI0HGLGRRU]XP%H]DKOHQYRQ6FKXOGHQ YHUZHQGHQ NRQQWH 7KXVDOIDQT QDKP GDIU GHQ 7DQ[LW LQ (PSIDQJ (U VFKLHQ ]X HUZDUWHQ GD VHLQ .XQGHVLFKMHW]WYHUDEVFKLHGHQZUGH$EHU)HOOPHU/OR\GEOLHE EHKDUUOLFKVLW]HQ ³.DQQLFKGLUPLWVRQVWQRFKHWZDVGLHQHQ"HUNXQGLJWHVLFKGHU(SWXVDG ³'XUFKDXV ,FK VXFKH ,QIRUPDWLRQHQ 9LHOOHLFKW NDQQVW GX PLU HLQHQ ]XYHUOlVVLJHQ ,QIRUPDWLRQVKlQGOHUQHQQHQ 7KXVDOIDQT VDK LKQ HUVWDXQW DQ (LQH 6HNXQGH ODQJ WDXFKWH )HOOPHU /OR\G LQV %HZXWVHLQGHV+lQGOHUV$EHUGDIDQGHUQXUHKUOLFKHhEHUUDVFKXQJ ³%HLP5HJLVWHUZLOOVWGXGLFKQLFKWHUNXQGLJHQ"IUDJWH7KXVDOIDQT ³,FKKDOWHPLFKOLHEHUDQHLQHSHUV|QOLFKH(PSIHKOXQJ ³'X ELVW HLQ NOXJHV *HVFK|SI VDJWH GHU +lQGOHU QDFK NXU]HP =|JHUQ ³:HQGH GLFKDQ1XULPHUXQGVDJGD7KXVDOIDQTGLFKVFKLFNW'XILQGHVWLKUHQ1DPHQLP .RPPXQLNDWLRQVYHU]HLFKQLV
$QGHU$UWXQG:HLVHZLH)HOOPHU/OR\GYRQ1XULPHUHPSIDQJHQZXUGHHUNDQQWH HUGDGLH+lQGOHULQDXIGHQNOHLQHQ(SWXVDGJURH6WFNHKDOWHQPXWH )HOOPHU /OR\G KDWWH VLFK HLQHQ 0LHWZDJHQ JHQRPPHQ XQG ZDU ]XU YHUHLQEDUWHQ 6WXQGHYRU1XULPHUV+DXVHUVFKLHQHQ'DV+DXVODJDP+DQJGHVVHOEHQ%HUJ]XJV DXIGHVVHQ)ODQNHHUDPIUKHQ1DFKPLWWDJPDWHULDOLVLHUWZDU+DXVXQG$QZHVHQ VSUDFKHQ YRP 5HLFKWXP GHU +lQGOHULQ (V ZDU GUHL 6WXQGHQ QDFK 6RQQHQXQWHUJDQJ DOV )HOOPHU /OR\G VHLQ =LHO HUUHLFKWH 8QWHUZHJV KDWWH HU GLH XQYHUJOHLFKOLFKH 6WHUQHQSUDFKW GHU 5LHVHQJDOD[LV (UHQG\UD EHZXQGHUW $EHU GLH 6WHUQH YHUEODWHQ JHJHQEHU GHU /LFKWHUVFKDX GLH LQ GHP ZHLWOlXILJHQ 3DUN YHUDQVWDOWHW ZXUGH GHU 1XULPHUV +DXV XPJDE $XI 'XW]HQGHQ YRQ IUHLHQ )OlFKHQ VSUXGHOWHQ/LFKWIRQWlQHQhEHUHLQH)HOVWHUUDVVHHUJRVLFKHLQ:DVVHUIDOOLQEXQWHQ .DVNDGHQ
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|USHUQ 9RU HLQHP 3RUWDO KLHOW GLH3ODWWIRUPNXU]DQ(LQ)DQIDUHQVWRHUW|QWH'LHEHLGHQ)OJHOGHUKRKHQ3IRUWH JOLWWHQEHLVHLWHXQG)HOOPHU/OR\GZXUGHHQGOLFKHLQJHODVVHQLQV(PSIDQJVJHPDFK GHU+lQGOHULQ1XULPHU 'HU 3UXQN PLW GHP GLH +lQGOHULQ VLFK XPJDE ZDU VLQQYHUZLUUHQG 'HU 5DXP ZDU ODQJVHLQHUFNZlUWLJH:DQG]XHLQHP+DOEUXQGDXVJHELOGHW6FKDUHQYRQ/DPSHQ VFKZHEWHQ LQ GHU /XIW YRQ NQVWOLFKHQ 6FKZHUHIHOGHUQ JHKDOWHQ 'XW]HQGH IDUEHQIURKHU7HSSLFKHEHGHFNWHQ%RGHQXQG:lQGH6WDWXHQGLH*HVWDOWHQDXVGHU GRRULVFKHQ0\WKRORJLHGDUVWHOOWHQZDUHQZDKOORVEHUGHQ5DXPYHUWHLOW+LHUXQG GDHUKREHQVLFKNOHLQH7LVFKHDXIGHQHQ*HJHQVWlQGHDXV(GHOVWHLQHQRGHUVHOWHQHQ 0HWDOOHQDXVJHVWHOOWZDUHQ )HOOPHU /OR\G ZDU VR YHUZLUUW GD HU 1XULPHU HUVW EHPHUNWH DOV GLH VFKZHEHQGH 3ODWWIRUPGLH+lOIWHGHV5DXPHVVFKRQGXUFKTXHUWKDWWH 'DV+DOEUXQGLP+LQWHUJUXQGGHV5DXPHVODJQLFKW]XJOHLFKHU(EHQHZLHGHU5HVW GHV *HPDFKV 'UHL IODFKH 6WXIHQ IKUWHQ ]X HLQHU (UK|KXQJ DXI GHU HLQ YRQ NRVWEDUHQ 6WRIIHQ VWURW]HQGHU 'LZDQ DXIJHVWHOOW ZDU ,Q GLHVHP 0|EHOVWFN VD RGHUYLHOPHKUUlNHOWHVLFK1XULPHU6LHKDWWHGLHKDDUORVH6FKlGHOKDXWPLW3HUOHQ XQG lKQOLFKHQ 2UQDPHQWHQ EHVHW]W ,KUH +DXWIDUEH ZDU HLQ WLHIHV JOlQ]HQGHV 6FKZDU] $XJHQ XQG 1VWHUQ ZDUHQ GXUFK KHOOEODXHV OXPLQHV]HQWHV 0DNHXS NRQWXULHUW 'DV *HZDQG GDV GLH +lQGOHULQ WUXJ ZDU NDXP PHKU DOV HLQH GXUFKVLFKWLJH+OOHXQGVHOEVWGLHVHKDWWHVLHEHUGHP/HLEZHLWJH|IIQHW 'LH3ODWWIRUPVHQNWHVLFK]X%RGHQXQGNDP]XU5XKH)HOOPHU/OR\GVDVWDUULQ VHLQHP 6HVVHO XQG EOLFNWH ]X 1XULPHU KLQDXI $OOHV ZDV HU DQ $UWLJNHLWHQ KDWWH VDJHQ ZROOHQ ZDU YHUJHVVHQ(UZDUVRYHUEOIIWGDHUQLFKWZXWHZDVHUVDJHQ VROOWH(UKDWWHQRFKQLH]XYRUHLQH'RRULLQHQWNOHLGHWHP=XVWDQGJHVHKHQ(UKDWWH QLFKWJHZXWGD0HQQLYLHU%UVWHEHVDHQ 1XULPHU ODEWH VLFK DQ VHLQHP 6WDXQHQ GDV VLH RIIHQEDU DXI GHQ EHUZlOWLJWHQ (LQGUXFNLKUHU(UVFKHLQXQJEH]RJ ³1XQZLHJHIDOOHLFKGLU"IUDJWHVLHXQYHUIURUHQ 6LHKDWWHHLQHWLHIHUHVRQDQWH6WLPPHGLHGHQ0XWDQWHQHLJHQWPOLFKEHUKUWH(U EHJULIIGDHUMHW]WHWZDVVDJHQPXWHZHQQHUQLFKWIUHLQHQXQJHKREHOWHQ.ORW] JHKDOWHQZHUGHQZROOWH
³,FK HQWELHWH GLU PHLQHQ *UX 1XULPHU EUDFKWH HU PKVDP KHUYRU ³,FK ELQ )HOOPHU/OR\GGHUPLWGLUHLQHQ+DQGHODEVFKOLHHQP|FKWH'XELVWGXELVWGLH IDV]LQLHUHQGVWH0HQQLGLHPLUMHYRU$XJHQJHNRPPHQLVW ³'DV ZLOO LFK K|UHQ JXUUWH GLH +lQGOHULQ XQG EOHFNWH GDV NUlIWLJH *HEL ³6R PDFKVWGXGLFKEHLPLUEHOLHEW :LH GXUFK =DXEHUHL ZXFKVHQ QHEHQ GHP 'LZDQ XQG DXI )HOOPHUV 3ODWWIRUP ]ZHL 7LVFKFKHQ LQ GLH +|KH 'DUDXI VWDQGHQ NULVWDOOHQH .HOFKH GLH PLW HLQHU JUHOOURWHQ )OVVLJNHLW JHIOOW ZDUHQ 'HU 0XWDQW NDQQWH GDV 6WDQGDUGJHWUlQN GHU 'RRUL GLH .DQL\\H(UZXWHGDVLHIUPHQVFKOLFKH0lJHQEHN|PPOLFKZDUDEHUDXFKGD HUVLFKK|OOLVFKLQDFKWQHKPHQPXWHQLFKW]XYLHOYRQGHPZRKOVFKPHFNHQGHQ=HXJ ]XWULQNHQ ³'LH.DQL\\HVROOXQV]XIUHXQGOLFKHQ+DQGHOVSDUWQHUQPDFKHQ]LWLHUWH1XULPHU GHQRUWVEOLFKHQ7ULQNVSUXFKXQGOHHUWHLKUHQ.HOFKDXIHLQHQ=XJ )HOOPHU/OR\GWDWLKU%HVFKHLGEHVFKUlQNWHVLFKMHGRFKDXI]ZHL6FKOXFNH6HOEVW GLHVH VSUWH HU DXJHQEOLFNOLFK :LH )HXHU UDQQHQ VLH LKP GXUFK GHQ /HLE 1XULPHU PDFKWH HV VLFK QRFK XP HLQH 1XDQFH EHTXHPHU ZREHL LKU GLH WUDQVSDUHQWH +OOH YROOHQGVYRQGHU6FKXOWHUJOLWW ³6SULFK]XPLUYRQGHP+DQGHOGHQGXPLWPLUPDFKHQZLOOVWIRUGHUWHVLHLKUHQ *DVWDXI :DU HV GLH .DQL\\H" (U KDWWH 0KH GHQ %OLFN YRQ LKUHP JOlQ]HQGHQ .|USHU ]X ZHQGHQ ³,FKVXFKH,QIRUPDWLRQHQVDJWHHU ³'DELVWGXDQGLH5LFKWLJHJHNRPPHQEHVWlWLJWHLKP1XULPHU³,FKELQDXIGHQ ,QIRUPDWLRQVKDQGHO VSH]LDOLVLHUW 0|FKWHVW GX ,QIRUPDWLRQ JHUDGHKHUDXV NDXIHQ RGHUZLOOVWGXHLQ7HUPLQJHVFKlIWWlWLJHQ" ³(UNOlUHPLUELWWHGHQ8QWHUVFKLHG ³:HQQ GX HLQHQ .DXIYHUWUDJ PLW PLU DEVFKOLHW HUWHLOVW GX PLU GHQ $XIWUDJ GLH JHZQVFKWH,QIRUPDWLRQ]XEHVFKDIIHQ:DKUVFKHLQOLFKJHOLQJWHVPLUGHQ$XIWUDJ ]X HUIOOHQ $EHU VHOEVW ZHQQ LFK NHLQHQ (UIROJ KDEH ELVW GX PLU GHQ .DXISUHLV VFKXOGLJ %HLP 7HUPLQJHVFKlIW EH]DKOVW GX GHQ 3UHLV YRUZHJ ,FK JHKH DXI GHP 0DUNWKDXVLHUHQREGLHJHVXFKWH,QIRUPDWLRQGRUWLUJHQGZR]XKDEHQLVW:HQQLFK VLHELV]XPYHUHLQEDUWHQ7HUPLQEHVFKDIIWKDEHJHK|UWGDV*HOGPLU:HQQQLFKW EHNRPPVW GX HV ]XUFN DE]JOLFK HLQHU KDQGHOVEOLFKHQ %HDUEHLWXQJVJHEKU QDWUOLFK ³1DWUOLFK PXUPHOWH HU XQG QDKP DXV ODXWHU 9HUOHJHQKHLW QRFK HLQHQ 6FKOXFN .DQL\\H 'LH SSLJH *HVWDOW GHU 0HQQL IDV]LQLHUWH LKQ 'LH YLHU %UVWH ZLSSWHQ KHUDXVIRUGHUQGDOV1XULPHUVLFK]XU6HLWHEHXJWHXQGQDFKLKUHP.HOFKJULIIGHU VLFKZLHGHUJHIOOWKDWWH ³'HU3UHLVKlQJWYRQGHU$UWGHU,QIRUPDWLRQDEGLHGXZQVFKVWIXKUVLHLQLKUHU (UNOlUXQJ IRUW ³$OV 5HJHO JLOW 7HUPLQSUHLVHVLQGGRSSHOWVRKRFKZLH.DXISUHLVH
*LEPLUHLQH,GHHZRQDFKGXVXFKVW ³,FK ZLOO DOOHV ZLVVHQ ZDV PLW HLQHP :HVHQQDPHQV *LOJLG]XWXQ KDW GDV VLFK LQ .URYRUV*HIDQJHQVFKDIWEHILQGHWVDJWH)HOOPHU/OR\G ³.URYRULVWHLQIDFKDQWZRUWHWH1XULPHUQDFKGHQNOLFK³$EHUZHULVW*LOJLG" ³(LQHHLQH)UDXVDJWH)HOOPHU(WZDVDQGHUHVILHOLKPQLFKWHLQ(UZDUVHOEVW HUVWDXQW ZLH IHVW GDV %LOG HLQHV ZHLEOLFKHQ :HVHQV QDPHQV *LOJLG VLFK VHLQHP %HZXWVHLQHLQJHSUlJWKDWWH =ZLVFKHQ1XULPHUVJURHQIHXFKWHQ$XJHQZDUHLQHVWHLOH)DOWHHQWVWDQGHQ ³(LQH)UDXPXUPHOWHVLH³-DJVWGXKLQWHU)UDXHQKHU" )HOOPHUVRUWLHUWHLKUH*HGDQNHQ2KPHLQ*RWWVLHLVWHLIHUVFKWLJ ³*LOJLGEHILQGHWVLFKLQ1RWDQWZRUWHWHHU³,FKKDEHVLHQLHJHVHKHQDEHULFKZLOO LKUKHOIHQ:DVGDV-DJHQDQEHODQJW (UOLHGHQ6DW]DEVLFKWOLFKXQEHHQGHW ³-D")DKUIRUWGUlQJWH1XULPHU (U KDWWH LKU %HZXWVHLQ QRFK QLFKW ORVJHODVVHQ :DV VLFK LQ LKUHQ *HGDQNHQ DEVSLHOWH MDJWH LKP 6FKDXHU EHU GHQ 5FNHQ (U WUDQN VHLQHQ .HOFK OHHU XQG VDK ]X ZLH HU VLFK YRQ VHOEVW ZLHGHU IOOWH 'DV)HXHUGHU.DQL\\HEUDQQWHLQVHLQHQ $GHUQXQGLQVHLQHP*HKLUQ ³,FKZWHHLQH-DJGGLHPLUPHKU9HUJQJHQPDFKWHVDJWHHU³$XIHLQH0HQQL GLHVRVFK|QLVWZLHNHLQHDQGHUH 1XULPHUEOHFNWHGLH=lKQH ³'DUDXINRPPHQZLUQRFK]XVSUHFKHQVDJWHVLHIUHXQGOLFK³=XHUVWGDV*HVFKlIW 6LH KRE GHQ .RSI XQG ULHI ³3HUV|QOLFKH ,QIRUPDWLRQHQ .ODVVH GUHL :DV LVW GLH 7DJHVTXRWHIU.DXIXQG7HUPLQ" $XVGHU+|KHDQWZRUWHWHGLH6WLPPHHLQHV&RPSXWHUV ³.DXIDFKWKXQGHUW7HUPLQGUHL7DJH]ZHLWDXVHQGVHFKV7DJHDFKW]HKQKXQGHUW]HKQ 7DJHIQI]HKQKXQGHUW ³'UHL7DJH7HUPLQVDJWH)HOOPHU/OR\GRKQH1XULPHUV)UDJHDE]XZDUWHQ ³+DVWGXJHK|UW"ULHIGLH+lQGOHULQ ³,FKKDEHJHK|UWDQWZRUWHWHGLH&RPSXWHUVWLPPH ³0DFKGHQ9HUWUDJ]XUHFKWXQGOHJLKQLQPHLQ%UR'DQQZDQGWH1XULPHUVLFK ZLHGHU LKUHP *DVW ]X 6LH ]HLJWH LKU VWDUNHV *HEL YRQ HLQHP (QGH GHV EUHLWHQ 0XQGHVELV]XPlQGHUQ³8QGMHW]WODXQVYRQQRFK(UIUHXOLFKHUHPUHGHQVFKOXJ VLHYRU $OV)HOOPHU/OR\GVSlWDPQlFKVWHQ0RUJHQLQV1DOLNL:DK]XUFNNHKUWHJLQJHU DXIZDFNOLJHQ%HLQHQ$QVRQVWHQZDUHUEHVWHU/DXQH'LH1DFKWLQ1XULPHUV+DXV ZDU HLQ (UOHEQLV JHZHVHQ GDV HU VR EDOG QLFKW YHUJHVVHQ ZUGH ,Q *HGDQNHQ YHUORUHQ VFKULWW HU DQ GHU 5HLKH GHU .RQWRUH YRUEHL GLH GHQ .RUULGRU ]XU +DXSWHPSIDQJVKDOOH VlXPWHQ 7KXVDOIDQT VWDQG XQWHU GHU RIIHQHQ 7U VHLQHU
1LHGHUODVVXQJ ³1XQKDEHLFKGLUHLQHJXWH(PSIHKOXQJJHJHEHQ"EHJUWHHUGHQ1DFKGHQNOLFKHQ ³2K MD VHKU JXW DQWZRUWHWH )HOOPHU /OR\G ³,FK KDEH HLQ 7HUPLQJHVFKlIW DEJHVFKORVVHQ ³8QG QLFKW QXU GDV IHL[WH 7KXVDOIDQT ³'X VLHKVW DXV DOV ZlUHVW GX GLH JDQ]H 1DFKWQLFKW]XU5XKHJHNRPPHQ1XULPHUKDWGDVVRDQVLFK ³,FK ZHL QLFKW ZRYRQ GX UHGHVW VDJWH )HOOPHU /OR\G EUVNHU DOV HU HLJHQWOLFK ZROOWHXQGJLQJZHLWHU 6SlWHU lUJHUWH HU VLFK EHU VHLQ 9HUKDOWHQ (U KDWWH GHQ (SWXVDG DQJHIDKUHQ ZHLO LKQ GDV VFKOHFKWH *HZLVVHQ SODJWH 8QGGDV*HZLVVHQSODJWHLKQZHLOLQLKPQRFK LPPHU HWZDV YRQ GHU 0RUDO GHU $OWHQ VWHFNWH GLH 7UDQVVH[XDOLWlW IU HWZDV 9HUZHUIOLFKHVKLHOWHQ (V JLQJ ZLH VR RIW LQ VROFKHQ 'LQJHQ 'LH 0RUDO ZDU HLQH 6DFKH GDV DOOWlJOLFKH /HEHQHLQHDQGHUH7UDQVVH[XDOLWlWJDEHVVHLWGHPLQWHOOLJHQWH:HVHQVLFKDXIGHQ :HJ]XGHQ6WHUQHQJHPDFKWKDWWHQXQGDQGHUHQ*HVFK|SIHQEHJHJQHWZDUHQ (UQDKPVLFKYRU7KXVDOIDQTEHLQlFKVWHU*HOHJHQKHLWHLQSDDUIUHXQGOLFKH:RUWH ]XVDJHQ(VWDWLKPOHLGGDHULKQVRNXU]DQJHEXQGHQEHKDQGHOWKDWWH 'HQ IUKHQ 1DFKPLWWDJ YHUEUDFKWH HU LP 1DOLNL :DK (U VSHLVWH DXVJLHELJ XQG QDKP DQ HLQLJHQ GHU 9HUJQJXQJHQ WHLO GLH IU GLH *lVWH GHV 8QWHUQHKPHQV RUJDQLVLHUWZXUGHQ:DQQHUYRQ1XULPHU$QWZRUWHUKDOWHQZUGHZXWHHUQLFKW 'LH+lQGOHULQKDWWHGUHL7DJH=HLWYRQKHXWHPRUJHQDQJHUHFKQHWGLHJHZQVFKWH ,QIRUPDWLRQ]XEHVFKDIIHQ 6SlWHUDP7DJZXUGHHUGHURUJDQLVLHUWHQ8QWHUKDOWXQJPGH(UQDKPVLFKHLQHQ 0LHWZDJHQXQGXQWHUQDKPHLQH)DKUWLQV%ODXH(UIORJGDV7DOHQWODQJQDFK6GHQ GHP0HHU]X(UNDPDQGHP.RPSOH[YRUEHLLQGHPGLH'RRULLKUHQ*HKLUQWUXVW GHQ7KLQN7DQNXQWHUJHEUDFKWKDWWHQXQGK|UWHHLQH=HLWODQJPLW9HUJQJHQGHQ *HGDQNHQ ]X GLH YRQ GRUWKHU DXI LKQ HLQVWU|PWHQ 'LH 'RRUL KDQGHOWHQ PLW DOOHP DXFK PLW ,GHHQ 8P JHQDX ]X VHLQ 'LH ,GHHQE|UVH ZDU HLQH EHUDXV HLQWUlJOLFKH ,QVWLWXWLRQ XQG EHUWUDI ZDV GHQ 8PVDW] DQJLQJ ]XP %HLVSLHO GLH (GHOPHWDOOE|UVH EHLZHLWHP 'HU 0XWDQW K|UWH *HGDQNHQ GLH VLFK PLW GHU (UZlUPXQJ GHU 2EHUIOlFKH HLQHV ELVKHU IU GLH %HVLHGHOXQJ XQJHHLJQHWHQ 3ODQHWHQ EHIDWHQ =ZHL ;D'RRUL GHEDWWLHUWHQPLWHLQDQGHUEHUGLHEHVWH0HWKRGHV\QWKHWLVFKH.DQL\\HKHU]XVWHOOHQ XQG HLQH *UXSSH YRQ %LRFKHPLNHUQ EHVFKlIWLJWH VLFK PLW GHU )UDJH RE PLW $SKURGLVLDNDGHP1DFKZXFKVSUREOHPGHVVH[XHOOWUlJHQ3ULPLWLYYRONVGHU'XZDED DEJHKROIHQZHUGHQN|QQH )HOOPHU /OR\G VWHXHUWH GHQ *OHLWHU ZHLWHU =XU UHFKWHQ +DQG ELOGHWHQ GLH %HUJH HLQHQ ZHLWHQ 'XUFKOD GXUFK GHQ HLQ PlFKWLJHU 6WURP VLFK LQV 7DO HUJR 'HU 6WURPKLHOW.XUVDXIGDV0HHUXQG)HOOPHUWDWHVLKPJOHLFK'RUWZRGHU)OXVLFK
LQV0HHUHUJRODJHLQHXUDOWH'RRUL6WDGWPLWHLQHP6WDGWNHUQGHVVHQ*HElXGHYRU ]ZHLXQGGUHLWDXVHQG-DKUHQHUULFKWHWZRUGHQZDUHQ8PGLH$OWVWDGWKHUXPKDWWHQ GLH ;D'RRUL VLFK QLHGHUJHODVVHQ ,KUH %HKDXVXQJHQ ODJHQ HQWODQJ JHSIOHJWHU 6WUDHQLQJURHQSDUNlKQOLFKHQ*lUWHQ'HQQQLFKWQXUGLH'RRULSURILWLHUWHQYRP DOOJHJHQZlUWLJHQ+DQGHO$XFKGLH)UHPGHQGHQHQVLHHUODXEWKDWWHQVLFKDXILKUHU :HOW QLHGHU]XODVVHQ QDKPHQ DQ GHP DOOJHPHLQHQ :RKOVWDQG WHLO )HOOPHU /OR\G VHKQWHVLFKGDQDFKZLHGHUHLQPDOHLQHRUJDQLVFKJHZDFKVHQH6WDGW]XVHKHQ+lWWH HU]X1XULPHUGDYRQJHVSURFKHQKlWWHHUVLFKLQLKUHQ$XJHQYHUlFKWOLFKJHPDFKW $EHU HU EH]ZHLIHOWH GD HU 1XULPHU MHPDOV ZLHGHU ]X VHKHQ EHNRPPHQ ZUGH :DVLQGHUYHUJDQJHQHQ1DFKWJHVFKHKHQZDUKDWWHHLQGHXWLJGLH6\PSWRPHHLQHU (LQH1DFKW$IIlUHEHVHVVHQ (U IORJ VHLWZl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lXPHQEHVFKDWWHWHQ3ODW]GHUQLFKWZHLWYRQGHU*UHQ]HGHU$OWVWDGWHQWIHUQWODJ (UHQWORKQWHGHQ$XWRSLORWHQXQGPDFKWHVLFK]X)XDXIGHQ:HJ 9RP3ODW]DXVIKUWHHLQHEUHLWH6WUDHQDFK6GHQ(VJLQJDXIGHQ$EHQG]X'LH 6RQQH 'LGRRU VDQGWH LKU /LFKW VFKUlJ GXUFK GLH GLFKWH DWPRVSKlULVFKH +OOH GHV 3ODQHWHQXQGVFKXIHLQHRUDQJHIDUEHQH'lPPHUXQJGLHXQJHPHLQIULHGOLFKZLUNWH 'LHEUHLWH6WUDHPLWEXQWHQ%lXPHQ]XEHLGHQ6HLWHQODJLQHUKDEHQHU6WLOOH'LH +lXVHU GHU ;D'RRUL ZDUHQ KLQWHU KRKHQ EOWHQEHUVlWHQ +HFNHQ YHUVWHFNW .HLQ )DKU]HXJZDU]XVHKHQNHLQ/DXW]XK|UHQ 2GHUGRFK" -HZHLWHUGHU0XWDQWVFKULWWGHVWRGHXWOLFKHUZDUHLQGXPSIHV%URGHOQ]XK|UHQ(V NDP DXV GHU DOWHQ 6WDGW (V NDP YRQ GRUW ZR GLH DUPHQ XQG GLH NUDQNHQ 'RRUL OHEWHQGLHGHQ6SUXQJDXVGHUVSlWXUEDQHQ'HNDGHQ]LQGLH(SRFKHGHUOlQGOLFKHQ /X[XVLG\OOHQLFKWJHVFKDIIWKDWWHQ'LH6WUDHDXIGHU)HOOPHU/OR\GVFKULWWHQGHWH QDFKZHQLJHQKXQGHUW0HWHUQYRUHLQHU:DQGDXV%lXPHQXQG%VFKHQGLHVLFK ZLHGHU5DQGHLQHV:DOGHVDXVPDFKWH'XUFKGDV/DXEZHUNGHU%lXPHGXUFKGDV *HVWUSS GHU %VFKH GUDQJ GDV *HEURGHO GDV MHW]W UHFKW ODXW ZDU XQG VLFK LQ (LQ]HOJHUlXVFKHDXI]XO|VHQEHJDQQ (QWVFKORVVHQEUDFKHUGXUFKGDV%XVFKZHUN:DVDXIGHQHUVWHQ%OLFNZLHHLQ:DOG JHZLUNWKDWWHHQWSXSSWHVLFKDOVHLQHGQQH7UHQQZDQGGLHGLH;D'RRULHUULFKWHW KDWWHQ XP VLFK YRU GHP $QEOLFN GHV -DPPHUV ]X VFKW]HQ DQ GHP VLH ZHGHU NDXVDOQRFKPRUDOLVFK$QWHLOKDWWHQ (V ZDU DOV WUHWH HU LQ HLQH DQGHUH :HOW 9RU LKP ODJHQ VFKPDOEUVWLJH KRKH *HElXGHLQXQWHUVFKLHGOLFKHQ6WDGLHQGHV=HUIDOOV 6FKPDOH *DVVHQ IKUWHQ LQ GDV
*HZLUUGHU+lXVHUKLQHLQ8QUDWVWDSHOWHVLFKDQGHQ*DVVHQUlQGHUQ'LH)DKUZHJH ZDUHQ YHUVWRSIW YRQ )XJlQJHUYHUNHKU 'LH *HVFK|SIH GLH LQ GHU $OWVWDGW ZRKQWHQ ZDUHQ IDVW DXVVFKOLHOLFK 'RRUL 6LH ZLUNWHQ YHUKlUPW KHUXQWHUJHNRPPHQ +LHU XQG GD KDWWHQ +lQGOHU LKUH 6WlQGH DXIJHVFKODJHQ XQG SULHVHQPLWVFKULOOHU6WLPPHLKUlUPOLFKHV:DUHQVRUWLPHQWDQ:HUHWZDV:RKOIHLOHV ]X ELHWHQ KDWWH ZDU YRQ 6FKDUHQ .DXIOXVWLJHU XPULQJW XQG NHLQ .DXI NDP ]XVWDQGHEHLGHPQLFKWPLWK|FKVWHU/DXWVWlUNHXPGHQ3UHLVJHIHLOVFKWZXUGH 3HUIHNWZXUGHGDV&KDRVGDQQZHQQVLFKHLQHVGHUZHQLJHQ)DKU]HXJH]HLJWHGLH LQGHU$OWVWDGW]X+DXVHZDUHQ6LHZDUHQVDPWXQGVRQGHUVKRIIQXQJVORVEHUDOWHUW XQGUHSDUDWXUEHGUIWLJ,KUH$QWLJUDYWULHEZHUNHNHXFKWHQXQGVSXFNWHQDOVKlWWHQ VLH GLH 6FKZLQGVXFKW :HLO GHU 3LORW XP GLH 8Q]XYHUOlVVLJNHLW VHLQHV )DKU]HXJV ZXWHIORJHUVHOWHQK|KHUDOVYLHUELVIQI0HWHU$XIGLHVH:HLVHZDKUWHHUVLFK HLQHhEHUOHEHQVFKDQFHIUGHQ)DOOGDVHLQ9HKLNHODEVWU]WH$EHUQLFKWQXUGHU 3LORW DXFK GLH )XJlQJHU XQWHU LKP ZXWHQ ZLH XQVLFKHU GDV NODSSULJH *HIlKUW ZDUGDVEHULKQHQLQGHU/XIWKLQJ:RGHU6FKDWWHQHLQHV*OHLWHUVHUVFKLHQJHULHW GHU)XJlQJHUYHUNHKULQ3DQLN1DFKDOOHQ6HLWHQZLFKHQGLH$OWVWDGWEHZRKQHUDXV XPGHU*HIDKU]XHQWJHKHQ (LQH=HLWODQJPXVWHUWH)HOOPHU/OR\GGLHXQZDKUVFKHLQOLFKH6]HQHDXVGHP6FKXW] GHU %DXPKHFNH KHUYRU 'LH 'XQNHOKHLW VDQNKHUDE+LHUXQGGDIODPPWHQHLQ]HOQH 6WUDHQOHXFKWHQ DXI DOWPRGLVFKH /XPLQHV]HQ]NXJHOQ GLH DQ 0DVWHQ EHIHVWLJW ZDUHQ (U HUUHJWH $XIVHKHQ VREDOG HU VLFK LQ %HZHJXQJ VHW]WH 6HLQH .OHLGXQJ ILHO DXI VDXEHU JXWVLW]HQG RIIHQEDU DXV EHVWHP 0DWHULDO +lQGH PLW ZHLW JH|IIQHWHQ *UHLIODSSHQUHFNWHQVLFKLKPHQWJHJHQ ³+DE (UEDUPHQ +HUU 1XU HLQ SDDU *\DULW IU HLQH ZDUPH 0DKO]HLW 6LHK GRFK +HUUZLHNUDQNLFKELQ 'HU %HWWOHU VFKRE VHLQ *HZDQG ]XU 6HLWH XQG HQWKOOWH HLQH 5HLKH HLWHUQGHU 6FKZlUHQ2EHUZLUNOLFKDQHLQHU.UDQNKHLWOLWWRGHUGLH6FKZlUHQHLQHPDNXWHQ 0DQJHO DQ 5HLQOLFKNHLW YHUGDQNWH OLH VLFK QLFKW HUNHQQHQ 'LH DXVJHVWUHFNWHQ +lQGHZDUHQQXU6\PERO'HU%HWWOHUHUZDUWHWHQLFKWHWZDGDLKP)HOOPHU/OR\G HLQSDDU0Q]HQ]ZLVFKHQGLH/DPHOOHQGUFNWH0Q]HQJDEHVDXI0HGLGRRUQLFKW PHKU 'HU =HUOXPSWH WUXJ XP GHQ +DOV HLQ NOHLQHV .RQWLHUJHUlW GDV DXI HOHNWURQLVFKHU %DVLV DUEHLWHWH XQG PLW GHP HU =X XQG $EEXFKXQJHQ DXI VHLQHP .RQWR YRUQHKPHQ NRQQWH :lUH )HOOPHU /OR\G DXI VHLQ *HEHWWHO HLQJHJDQJHQ VR KlWWH GHU %HWWOHU HUZDUWHW GD HU LKP VHLQH 'HELWPDUNH JDE XQG JOHLFK]HLWLJ GLH (UODXEQLV PLW +LOIH GHV .RQWLHUJHUlWV HLQHQ JHZLVVHQ %HWUDJ YRQ VHLQHP .RQWR DE]XEXFKHQ )HOOPHU/OR\GVFKREGHQPLW6FKZlUHQEHGHFNWHQ%HWWOHUXQGDOOHGLHLKPVRQVWQRFK GLH +lQGH HQWJHJHQVWUHFNWHQ EHLVHLWH XQG WUDW DXI GHQ QlFKVWHQ +lQGOHU ]X $XI HLQHP QLHGULJHQ 7LVFK KDWWH HU VHLQH :DUHQ DXVJHEUHLWHW )UFKWH %VFKHO HLQHU
JUDVDUWLJHQ 6XEVWDQ] GLH VLFK YHUPXWOLFK ]X 5DXVFKJLIW YHUDUEHLWHQ OLH NOHLQH HOHNWURQLVFKH*HUlWHXQGLQ)ODNRQVJHIOOWH=DXEHUWUlQNH )HOOPHU /OR\GV $QNXQIW HUUHJWH EHWUlFKWOLFKHV $XIVHKHQ 'LH 0HQJH ZLFK EHLVHLWH 'HU+lQGOHUXQWHUEUDFKVHLQH2GHDXIGLH8QYHUJOHLFKOLFKNHLWVHLQHU:DUHQ ³$OOHVZDVGXKLHUKDVWVDJWH)HOOPHU/OR\GXQGEHVWULFKPLWHLQHU+DQGEHZHJXQJ GHQJHVDPWHQ7LVFK³:LHYLHONRVWHWHV" 'HU +lQGOHU |IIQHWH GHQ 0XQG VHLQH ODQJH JHOEH =XQJH JHULHW LQ ]XFNHQGH %HZHJXQJ DEHU ]XHUVW EUDFKWH HU YRU ODXWHU hEHUUDVFKXQJ NHLQ HLQ]LJHV :RUW KHUYRU ³'UHLGUHLWDXVHQGNUlFK]WHHUVFKOLHOLFK 'LH 0HQJH PXUUWH 9HUlFKWOLFKH 5XIH ZXUGHQ ODXW 'HU +lQGOHU KDWWH HLQHQ +DOVDEVFKQHLGHUSUHLVYHUODQJW)HOOPHU/OR\GVW|UWHVLFKQLFKWGDUDQ ³,FK ELHWH GLU YLHUWDXVHQG VDJWH HU ³'UHLWDXVHQG VRIRUW HLQ ZHLWHUHV 7DXVHQG VSlWHUZHQQLFK]XUFNNRPPH8QWHUHLQHU%HGLQJXQJ'XYHUWHLOVWGHLQH:DUHQ NRVWHQORVDQGLHGLHEHLGLUHLQNDXIHQP|FKWHQDEHUNHLQ*HOGGDIUKDEHQ:HQQ LFK ]XUFNNHKUH ZLOO LFK YRQ GHQ .lXIHUQ K|UHQ GD GX GLH 9HUWHLOXQJ JHUHFKW YRUJHQRPPHQ XQG YRU DOOHQ 'LQJHQ QLFKWV YRQGHU :DUH IU GLFKVHOEVWEHKDOWHQ KDVW 'HU +lQGOHU EOHFNWH GDV JHOEH YRQ =DKQOFNHQ GXUFKVHW]WH *HEL 'LH )UHXGH OHXFKWHWHLKPDXVGHQ$XJHQ ³,FKELQGHLQ'LHQHU+HUUYHUVLFKHUWHHUHLIULJXQGVWUHFNWHHLQH+DQGDXV )HOOPHU JDE LKP GLH 'HELWPDUNH (U VDK ]X ZLH GHU +lQGOHU *\DULW YRQ VHLQHP.RQWRDEEXFKWHXQGQDKPGLH0DUNHZLHGHULQ(PSIDQJ'DQQ]RJHUVLFK HLOHQGV]XUFN.HLQH6HNXQGH]XIUKZLHVLFKDOVEDOGKHUDXVVWHOOWHGHQQNDXP KDWWHGHU+lQGOHUVHLQ.RQWLHUJHUlWGDVHUDQHLQHP]HUIDVHUWHQ%DQGDXV.XQVWOHGHU XPGHQ+DOVWUXJZLHGHU]XUHFKWJHUFNWGDVWU]WHVLFKGLH0HQJHDXIGHQ7LVFK XQG JULII PLW GHU *LHU GLH GLH ELWWHUH $UPXW HU]HXJW QDFK DOOHP ZDV LKU LQ GLH +lQGHNDP ³+DOWHWHLQK|UWHHUGHQ+lQGOHUVFKUHLHQ³,FKVROOYHUWHLOHQKDWGHUQREOH+HUU JHVDJW 'HU 5HVW VHLQHV 3URWHVWV HUWUDQN LP *HVFKUHL GHU 0HQJH 6FKPXQ]HOQG VHW]WH )HOOPHU /OR\G VHLQHQ :HJ IRUW (U KDWWH HLQ KDOEZHJV JXWHV :HUN JHWDQ HLQ EHVVHUHV DXI MHGHQ )DOO DOV ZHQQ HU GHP HLQHQ RGHU DQGHUHQ %HWWOHU IQI *\DULW JHVFKHQNW KlWWH 8QG GDV *HGUlQJH YRU LKP KDWWH VLFK JHOLFKWHW $OOHV ZDV %HLQH KDWWHEHODJHUWHGHQ7LVFKGHV+lQGOHUV 9RUVLFKWLJ DNWLYLHUWH GHU 0XWDQW VHLQH 0HQWDOVHQVRUHQ (U ZROOWH ZLVVHQ ZDV LQ GHQ%HZXWVHLQHQGHUHUYRUJLQJGHQHQVHLQH*UR]JLJNHLW]XJXWHNRPPHQVROOWH (VJLQJGHQ6HQVRUHQZLHGHQ2KUHQ+XQGHUWHYRQ0HQWDOVWLPPHQSUDVVHOWHQDXI VLHHLQ,QGLYLGXHOOH*HGDQNHQZDUHQQLFKWPHKU]XHUNHQQHQ*LHUXQGGLH$QJVW ]XVSlW]XNRPPHQZDUHQGLHYRUKHUUVFKHQGHQ5HJXQJHQGLHGDV*HGDQNHQFKDRV HUIOOWHQ
)HOOPHU /OR\G ZROOWH DEVFKDOWHQ 'D VFKlOWH VLFK DXV GHP DOOJHPHLQHQ 0HQWDOZLUUZDUUHLQSUlJQDQWHU(LQ]HOJHGDQNH ,FKPXLKPDXIGHQ)HUVHQEOHLEHQ 8PHLQ+DDUKlWWHHUVLFKXPJHZDQGWXP]XVHKHQZHUGHUMHQLJHZDUDXVGHVVHQ %HZXWVHLQ GHU *HGDQNH NDP ,P OHW]WHQ$XJHQEOLFNEHVDQQHUVLFKHLQHV%HVVHUHQ 'HU *HGDQNH KDWWH VLFK DXI LKQ EH]RJHQ DQGHUV OLH VLFK GLH ,QWHQVLWlW GHU 0HQWDOLPSXOVH QLFKW HUNOlUHQ (U ZXUGH YHUIROJW 'LH ,GHQWLWlW GHV 9HUIROJHUV ]X NHQQHQEUDFKWHLKPNHLQHQ9RUWHLO(UPXWHHUIDKUHQZDUXPHUYHUIROJWZXUGH 5XKLJHQ6FKULWWVEHZHJWHHUVLFKZHLWHULQ5LFKWXQJ6WDGW]HQWUXP 9HMQLOOLNDXIWHUUDQLVFK7ULQNKDOOHVDJWHQVLHGD]X0DQVWLHJHLQSDDUZDFNOLJH 6WXIHQ HPSRU |IIQHWH HLQH 7U XQG EHIDQGVLFKLQHLQHPZHLWHQ5DXPGHUDXIGHQ HUVWHQ %OLFN ZLH HLQ UHFKWHFNLJHV $PSKLWKHDWHU ZLUNWH 6FKPDOH NRQ]HQWULVFK DQJHOHJWH7HUUDVVHQVHQNWHQVLFK]XP=HQWUXPGHU+DOOHKLQ'LH7ULQNHQGHQVDHQ RGHUVWDQGHQDXIGHQ7HUUDVVHQ'DV=HQWUXPZDUGHP$XVVFKDQNXQGGHQ+lQGOHUQ YRUEHKDOWHQ 'HQQ KLHU ZXUGH QLFKW ZLH DQGHUQRUWV HLQ *HWUlQN VFKOLFKW EHVWHOOW QHLQ0DQKDQGHOWHGDUXP1LUJHQGZRNDPGHUGRRULVFKH9RONVFKDUDNWHUGHXWOLFKHU ]XP $XVGUXFN DOV KLHU XQWHU GHQ bUPVWHQ GHU $UPHQ +lQGOHU EUOOWHQ PLW VLFK EHUVFKODJHQGHU6WLPPHLKUH$QJHERWHLQGLH5lQJHHLQ*ODV6HI]MHLQIQI0LQXWHQ IUHLQHQKDOEHQ*\DULWHLQHQ%HFKHU/LOOHPLQ]HKQ0LQXWHQIUDQGHUWKDOE*\DULW HLQHQ.HOFK.DQL\\HIUIQI*\DULWLQHLQHUKDOEHQ6WXQGHDFKW*\DULWVRIRUW(V ZDUHQ DOOHV 7HUPLQJHVFKlIWH 'LH +lQGOHU VXFKWHQ VRYLHO .XQGHQ ZLH P|JOLFK ]XVDPPHQ]XEULQJHQGDPLWVLHDP$XVVFKDQNGHQ3UHLVGUFNHQNRQQWHQLQGHPVLH DXI0HQJHEHVWHOOWHQ 'HU/lUPLQGHU7ULQNKDOOHZDUVFKOLPPHUDOVGUDXHQDXIGHU6WUDH)HOOPHU/OR\G KlWWH VLFK DXV HLJHQHP $QWULHE QLFKW KLHUKHU YHULUUW (U ZDU ZHGHU GXUVWLJ QRFK ODJ LKPGDUDQVLFKGDVIUHQHWLVFKH*HVFKUHLGHU+lQGOHUDQ]XK|UHQ$EHUHUVXFKWHHLQH *HOHJHQKHLWVHLQHQ9HUIROJHUXQDXIIlOOLJXQWHUGLH/XSH]XQHKPHQ$QGHQ*HGDQNHQ GHV )UHPGHQ HUNDQQWH HU GD HU LKP LQV ,QQHUH GHU +DOOH JHIROJW ZDU 2KQH VLFK XP]XVHKHQ VFKULWW )HOOPHU GLH VFKPDOHQ 7HUUDVVHQ KLQXQWHU ELV DQ GHQ 5DQG GHV *HOlQGHVGDVGHP$XVVFKDQNXQGGHQ+lQGOHUQYRUEHKDOWHQZDU(LQHUGHU+lQGOHU XQWHUEUDFK VLFK PLWWHQ LQ VHLQHP ODXWKDOV JHEUOOWHQ $QJHERW XQG PXVWHUWH GHQ )UHPGOLQJLQGHUVDXEHUHQ.OHLGXQJPLWPLWUDXLVFKHP%OLFN ³*HKZLHGHUDQGHLQHQ3ODW]VDJWHHUXQIUHXQGOLFK³,FKEULQJHGLUZDVGXEHVWHOOW KDVW 'DV.RQWLHUJHUlWEDXPHOWHLKPXPGHQ+DOV ³,FK KDEH QRFK QLFKWV EHVWHOOW DQWZRUWHWH )HOOPHU /OR\G ³,FK ZLOO HLQHQ .HOFK .DQL\\HEHVWH(UQWHVRIRUW 'HU+lQGOHUPDFKWHJURH$XJHQ ³%HVWH(UQWHGDVZDUYRUDFKW-DKUHQ6RIRUW"0DFKW]ZDQ]LJ*\DULW+DVWGXVRYLHO" )HOOPHU UHLFKWH LKP GLH 0DUNH 'HU +lQGOHU SDWH VLH LQ VHLQ *HUlW XQG ZXUGH PHUNOLFK IUHXQGOLFKHU DOV GLH $Q]HLJH LKP YHUULHW GD GHU JHQDQQWH %HWUDJ
WDWVlFKOLFKWUDQVIHULHUWZRUGHQZDU ³(LQ .HOFK .DQL\\H EHVWH (UQWH NRPPW VRIRUW ULHI HU EHUVFKZHQJOLFK XQG VWU]WHVLFKLQGLH0HQJHGLHGHQ6FKDQNWLVFKXPODJHUWH (LQHKDOEH0LQXWHVSlWHUKDWWH)HOOPHU/OR\GVHLQ*HWUlQN(U]RJVLFKDXIHLQHQGHU K|KHUHQ5lQJH]XUFNXQGPDFKWHHVVLFKVREHTXHPZLHHVGHUKDUWH%RGHQ]XOLH (UQLSSWHDQVHLQHP.HOFKXQGVDKVLFKODQJVDPXQGXQDXIIlOOLJXP6HLQH6HQVRUHQ ZDUHQDNWLY'DV*HZLPPHOGHU*HGDQNHQZDUIDVWVRFKDRWLVFKZLHGDV*HVFKUHLGHU +lQGOHUXQGLKUHU.XQGHQ$EHUHUNDQQWHMHW]WGLH0HQWDOVWLPPHGHV)UHPGHQXQG K|UWHVLHDXVKXQGHUWDQGHUHQKHUDXV 'UHL 7HUUDVVHQ EHU LKP LQ GHU 1lKH GHV (LQJDQJV KRFNWH HLQ KRFKJHZDFKVHQHU PXVNXO|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|UWH )HOOPHU ,FK PX GDUDXI DFKWHQ GD HU GLH :DIIH QLFKW JHEUDXFKHQNDQQ:DUXPPXHUVLFKKLHUVRODQJHDXIKDOWHQ"9HUGDPPW+LUODS ZLUGXQJHGXOGLJ:HQQHUGRFKQXU 'LH *HGDQNHQ ZXUGHQ XQUXKLJ XQG YHUZRUUHQ 'HU 3XUSXUQH ZDU ]RUQLJ )HOOPHU /OR\G ZDU NODU GD HV QXU VHLQ +DQGHO PLW 1XULPHU VHLQ NRQQWH GHU LKP GLH 9HUIROJXQJHLQJHWUDJHQKDWWH0HGLGRRUODJZHLWDEYRQGHQ6WUDHQGLHGLH(ZLJHQ .ULHJHU XQG LKUH +HHUH UHLVWHQ :HOWHQ GHV )UHLKDQGHOV OLHHQ GLH .ULHJHU JHZ|KQOLFK LQ 5XKH XQG YHUVFKRQWHQ VLH YRU GHU 1RWZHQGLJNHLW GLH /HKUH GHV 3HUPDQHQWHQ.RQIOLNWV]XU6WDDWVUHOLJLRQ]XHUKHEHQ.HLQHQHLQ]LJHQ6KDQW7UlJHU KDWWH )HOOPHU ]X VHKHQ EHNRPPHQ VHLW HU DXI 0HGLGRRU JHODQGHW ZDU (U ZDU QLHPDQGDXIJHIDOOHQZHLOHUZLHHLQ*RULPDXVVDKRGHUZHLOHUGLH1HW]NRPELQDWLRQ WUXJ(UVWVHLQH(UNXQGLJXQJKDWWHLKQYHUGlFKWLJJHPDFKW6HLQH$QIUDJHZDUDXI GHPRIIHQHQ0DUNWJHKDQGHOWZRUGHQ )HOOPHU/OR\GOHHUWHVHLQHQ.HOFK(UVFKRELKQDFKWORVEHLVHLWH'DQQVWDQGHUDXI XQGJLQJ]XU7U'HU3XUSXUQHUKUWHVLFKQLFKW)HOOPHU|IIQHWHGLH7UXQGVFKULWW JHPlFKOLFK GLH 6WXIHQ KLQXQWHU ]XU 6WUDH 'LH 1DFKW ZDU KHUHLQJHEURFKHQ 'LH 6WUDHQODPSHQ WUXJHQ ZHQLJ GD]X EHL GLH )LQVWHUQLV DXI]XKHOOHQ 'LH 6WDGWEHZRKQHU VFKLHQ GLHV LQGHV QLFKW ]X VW|UHQ 'HU %HWULHE LQ GHQ *DVVHQ ZDU ZRP|JOLFKQRFKKHNWLVFKHUDOV]XU=HLWGHU'lPPHUXQJ'HU/lUPZDUVRJURGD
)HOOPHU /OR\G QLFKW K|UWH ZLH GLH 7U GHU 7ULQNKDOOH HLQ ZHLWHUHV 0DO JH|IIQHW ZXUGH$EHUHUHPSILQJGLH*HGDQNHQGHV9HUIROJHUV'HU3XUSXUQHHPSIDQG0LWOHLG IUVLFKVHOEVW $UPHU0LVKUDWZRUDXIKDVWGXGLFKHLQJHODVVHQ" )HOOPHU JULQVWH LP VWLOOHQ YRU VLFK KLQ %HYRU GLH 1DFKW YRUEHU ZDU ZUGH VLFK GHUDUPH0LVKUDWQRFKJDQ]DQGHUH)UDJHQVWHOOHQ (U VFKOXJ HLQHQ :HJ HLQ DXI GHP LKP GHU /lUP GHU $OWVWlGWHU ZHQLJHU KHIWLJ HQWJHJHQ]XVFKDOOHQVFKLHQDOVDXVDQGHUHQ5LFKWXQJHQ(UJHODQJWHLQHLQHYLHOIDFK JHZXQGHQH*DVVHLQGHUQXUDOOHSDDU KXQGHUW0HWHUZHLWHLQH/DPSHVWDQG'HU )XJlQJHUYHUNHKU ZXUGH GQQHU +LHU JDE HV NHLQH +lQGOHU PLW EHOHXFKWHWHQ 6WlQGHQ)HOOPHUURFKGDV:DVVHUGHVQDKHQ)OXVVHV'LH)HQVWHUGHU*HElXGH]X EHLGHQ 6HLWHQ ZDUHQ GXQNHO ,Q GLHVHP GHP DOOHUlOWHVWHQ 7HLO GHU 6WDGW ZRKQWH QLHPDQGPHKU 6FKXWWYHUVSHUUWHLKPGHQ:HJ(UZXWHGD0LVKUDWLKPDXIGHQ)HUVHQZDU(U NRQQWHVHLQH6FKULWWHQLFKWK|UHQDEHUHUHPSILQJVHLQH*HGDQNHQ(UVDKVLFKXP VRZHLW HV GLH )LQVWHUQLV ]XOLH =X VHLQHU /LQNHQ HUVWUHFNWH VLFK HLQ 5XLQHQIHOG +lXVHU ZDUHQ HLQJHVWU]W 0DXHUZHUN ZDU DXI GLH 6WUDH JHIDOOHQ 'HU /lUP GHU EHOHEWHUHQ6WDGWWHLOHZDU]XUFNJHEOLHEHQ1XUQRFKHLQGXPSIHV*HPXUPHOZDU]X K|UHQ0LVKUDWKDWWHVLFKELVKHUDOV9HUIROJHUEHUDXVJHVFKLFNWDQJHVWHOOW(UZUGH VLFK IUDJHQ XQG VHLQ $XIWUDJJHEHU ZUGH VLFK IUDJHQ ZRPLW HU VLFK YHUUDWHQ KDWWH 'DV ZDU GDV 5LVLNR GDV )HOOPHU HLQJHKHQ PXWH 6LH PRFKWHQ DXI GHQ 9HUGDFKWNRPPHQGDVLHHVPLWHLQHP7HOHSDWKHQ]XWXQKDWWHQ (U ZDQGWH VLFK QDFK OLQNV LQ GDV 7UPPHUIHOG KLQHLQ $XJHQEOLFNOLFKHPSILQJHU GLH*HGDQNHQGHV9HUIROJHUV *XW (U QLPPW GLH $ENU]XQJ ,FK UHQQH XP GHQ +lXVHUEORFN XQG NRPPH LKP ]XYRU )HOOPHU OLH VLFK =HLW (U NOHWWHUWH EHU 0DXHUUHVWH EDKQWH VLFK HLQHQ :HJ GXUFK ORFNHU DXIJHVFKWWHWH 7UPPHU XQG KLHOW PLWXQWHU DQ XP VLFK QDFK 0LVKUDWV *HGDQNHQ XP]XK|UHQ (U NDQQWH GHQ :HJ QLFKW GHQ VHLQ 9HUIROJHU HLQH $ENU]XQJ JHQDQQW KDWWH (U EUDXFKWH 0LVKUDWV *HGDQNHQLPSXOVH XP HLQH 3HLOXQJ YRU]XQHKPHQ 'D 0LVKUDW ZDU LQ 'HFNXQJ JHJDQJHQ (U ODXVFKWH DQJHVWUHQJW 'LH (QWIHUQXQJ EHWUXJQDFK)HOOPHUV6FKlW]XQJQRFKNQDSSHLQKXQGHUW0HWHU)HOOPHUEHQDKPVLFK UHFKW JHUlXVFKYROO 0LVKUDW VROOWH LKQ NRPPHQ K|UHQ $EHU SO|W]OLFK UDJWH HLQ VFKPDOHV 0DXHUVWFN YRU LKP DXI (V ERW LKP YRU]JOLFKH 'HFNXQJ (U ZDU MHW]W QLFKW PHKU DOV ]ZDQ]LJ 0HWHU YRQ VHLQHP 9HUIROJHU HQWIHUQW ,P 6FKXW] GHV 0DXHUUHVWVEOLHEHUVWHKHQ(U]RJGHQ3DUDO\VDWRUDXVGHP%HKlOWQLVDP*UWHOXQG EHU]HXJWHVLFKGDHUDXIYROOH'RVLVJHVFKDOWHWZDU'DQQZDUWHWHHU :REOHLEWHU":DUXPK|UHLFKQLFKWVPHKU" )HOOPHU /OR\G UHFKQHWH (U ZUGH HLQHQ 0LHWZDJHQ EUDXFKHQ 'UDXHQ DXI GHP
SODWWHQ/DQGZDUHVHLQH/HLFKWLJNHLWHLQ)DKU]HXJKHUEHL]XUXIHQ$EHUKLHULQGHU 6WDGW" $UPHU0LVKUDWZRUDXIKDVWGXGLFKHLQJHODVVHQ":REOHLEWGHUYHUGDPPWH*RULP" :HUZDU+LUODS"'HU1DPHNODQJGRRULVFK(LQJHKHLPHU$JHQWGHU(ZLJHQ.ULHJHU DXI GHP 3ODQHWHQ GHU +lQGOHU" *LOJLG ZDU HLQH *HIDQJHQH GHV .ULHJHUV .URYRU :RPLWKDWWHHU9HUGDFKWHUUHJW"0LWVHLQHU)UDJHQDFK*LOJLGRGHUGDGXUFKGDHU VLHPLW.URYRULQ9HUELQGXQJEUDFKWH" +DWNHLQHQ6LQQ]XZDUWHQ,FKPXLKPHQWJHJHQJHKHQ 0LVKUDW EHZHJWH VLFK JHVFKLFNW GDV PXWH PDQ LKP ODVVHQ .HLQ /DXW ZDU ]X K|UHQ ZlKUHQG HU VLFK HLQHQ :HJ GXUFK GDV *HZLUU GHU 7UPPHU VXFKWH ,Q GHU 'XQNHOKHLWUHLFKWH)HOOPHUV%OLFNQLFKWPHKUDOVHLQSDDU0HWHUZHLW(UOXJWHKLQWHU GHU 'HFNXQJ KHUYRU (LQH 0LQXWH YHUJLQJ 0LVKUDWV *HGDQNHQ ZDUHQ ]RUQLJ (U lUJHUWHVLFKGDUEHUGDHUVLFKGXUFK+LUODSLQGLHVH/DJHKDWWHEULQJHQODVVHQ $XVGHU'XQNHOKHLWZXFKVHLQKRKHUVFKODQNHU6FKDWWHQ 9HUIOXFKWHU*RULPZRELVWGX" )HOOPHU/OR\GKDWWHGLH:DIIHOlQJVWLP$QVFKODJ(LQ'UXFNDXIGHQ$XVO|VHUHLQ NXU]HVKHOOHV6LQJHQ0LVKUDWJDEHLQHQlFK]HQGHQ/DXWYRQVLFKXQGVDQNLQVLFK ]XVDPPHQ)HOOPHUNQLHWHQHEHQLKPQLHGHUXQGYHUJHZLVVHUWHVLFKGDHUQRUPDO DWPHWH'DQQPDFKWHHUVLFKDXIGHQ:HJHLQ)DKU]HXJ]XVXFKHQ (UIDQGHLQH5XIVlXOHGLHJHZLVFKRQIQIKXQGHUW-DKUHEHUGDXHUWKDWWHDP8IHU GHV )OXVVHV 9LHU 0LQXWHQ VSlWHU VHQNWH VLFK GHU *OHLWHU DXV GHP ILQVWHUHQ 1DFKWKLPPHOKHUDEXQGODQGHWHXQPLWWHOEDUQHEHQGHU6lXOH)HOOPHUVWLHJHLQ ³9HU]HLKPLUPHLQSRWHQWLHOOHU)DKUJDVWVDJWHGHU$XWRSLORW³:LUEHNRPPHQDXV GLHVHU*HJHQGQXUZHQLJH5XIH0DFKWHVGLUHWZDVDXVPLU]X]HLJHQGDGXIU GLH)XKUHEH]DKOHQNDQQVW" ³1LFKW LP JHULQJVWHQ DQWZRUWHWH )HOOPHU /OR\G XQG GHSRQLHUWH VHLQH 'HELWPDUNH DQGHUGDIUYRUJHVHKHQHQ6WHOOH ³'DQNH VDJWH GHU $XWRSLORW ³,FK VHKH GX ELVW HLQH $XVQDKPH XQWHU GHQ VSlWXUEDQHQ5HOLNWHQ ³'DV QlFKVWHPDO ZHQQ GX ]X GHLQHU %DVLV ]XUFNNHKUVW VDJWH )HOOPHU ³ULFKWH HXUHQ 6SH]LDOLVWHQ DXV VLH VROOHQ GLFK PLW HLQHP ZHQLJHU EODVLHUWHQ 9RNDEXODU YHUVHKHQ ³,FK ZHUGH PLFK GDUDQ HULQQHUQ HUNOlUWH GHU $XWRSLORW ³:RKLQ GDUI LFK GLFK EULQJHQ" ³:LHJURLVWGHLQH5HLFKZHLWH" ³8QEHJUHQ]WZHUWHU)DKUJDVW,FKNDQQGHQ3ODQHWHQDFKW]LJPDOXPUXQGHQEHYRU LFKHLQHQHXH/DGXQJIUPHLQHU0HLOHUEUDXFKH ³*XW 1HQQ PLU HLQH ,QVHO GLH LQ GHU WURSLVFKHQ ELV JHPlLJWHQ =RQH OLHJW XQEHZRKQWDXIGHUHLQ'RRULVLFKHLQSDDU7DJHODQJ]XUHFKWILQGHQNDQQRKQH]X YHUKXQJHUQRGHU]XYHUGXUVWHQ ³(V JLEW +XQGHUWH VROFKHU ,QVHOQ VDJWH GHU $XWRSLORW ³,FK JODXEH GHLQHQ
*HVFKPDFN ]X HUUDWHQ 'HU 3HQDQJNDX$UFKLSHO ZlUH GDV *HHLJQHWH (LQ JXWHV 'XW]HQG JU|HUHU ,QVHOQ DOOH XQEHZRKQW GD]X HLQ KDOEHV 7DXVHQG NOHLQHUHU 5DPDSXXUL7HOIDXQDQJ'MRNMDNDQ ³*HELUJLJEHZDOGHW" ³7HOIDXQDQJ IlOOW LQ GLHVH .DWHJRULH %HUJH ELV ]X YLHUWDXVHQG 0HWHUQ 'LFKWHU 'VFKXQJHO.HLQHOHEHQVJHIlKUOLFKH)DXQD ³*XW7HOIDXQDQJLVWXQVHU=LHO ³,FKEUHFKHVRIRUWDXIHUNOlUWHGHU$XWRSLORW ³+DOWVDJWH)HOOPHU/OR\G³(UVWPVVHQZLUQRFKMHPDQGDEKROHQ (VZDUKHOOHU7DJDOVVLH7HOIDXQDQJHUUHLFKWHQ)HOOPHU/OR\GOLHGHQ*OHLWHUDXI HLQHP IHOVLJHQ 3ODWHDX ODQGHQ GDV LQ KDOEHU +|KH HLQHV VWHLOHQ %HUJKDQJV ODJ ,P +LQWHUJUXQGGHU)HOVSODWWHSOlWVFKHUWHHLQHNOHLQH4XHOOHGHUHQ:DVVHUVLFKUDVFKLQ GHQ)XJHQGHV*HVWHLQVYHUORU'HU+DQJREHUKDOEGHV3ODWHDXVZDUGLFKWEHZDOGHW (VJDEHLQHXQEHUVHKEDUH)OOHIUXFKWWUDJHQGHU%lXPH0LVKUDWZUGHHVKLHUHLQH =HLWODQJDXVKDOWHQN|QQHQELVPDQLKQIDQG 'HU 'RRUL ZDU QRFK LPPHU EHZXWORV ,Q HWZD ]ZHL 6WXQGHQ VFKlW]WH )HOOPHU ZUGH HU ]X VLFK NRPPHQ (U OXG LKQ DXV XQG WUXJ GHP $XWRSLORWHQ DXI GDV )DKU]HXJHLQSDDUKXQGHUW0HWHUZHLWHUXQWHQDP+DQGDE]XVHW]HQ (VJDEGRUWHLQHNOHLQH/LFKWXQJ)HOOPHUOHKQWHVLFKZHLWLQGHQ6HVVHO]XUFNXQG VFKORGHQ+HOPVHLQHU1HW]NRPELQDWLRQ (V ODJ LKP GDUDQ GD VHLQH 8QWHUKDOWXQJ PLW GHP 6\QWURQ YRQ QLHPDQG JHK|UW ZXUGH ³,QHWZD]ZHL6WXQGHQHUNOlUWHHUDXI,QWHUNRVPR³ZHUGHLFKHLQH0HQJH]XVDJHQ KDEHQ =XVDPPHQKDQJORV ZDKUVFKHLQOLFK 'LQJH GLH VFKHLQEDU NHLQHQ 6LQQ HUJHEHQ ³+DVWGXYRUGLFK]XEHWULQNHQ"HUNXQGLJWHVLFKGHU6\QWURQEHVRUJW ³4XDWVFK,FKK|UHHLQHP'RRUL]XGHUVRHEHQDXVGHU%HZXWORVLJNHLWHUZDFKW ³6FK|QVDJWHGHU6\QWURQ³8QGZDVVROOLFKGDEHL" ³'XVFKQHLGHVWDOOHVPLWZDVLFKVDJH ³$OOHV" ³$OOHVEHVWlWLJWH)HOOPHU 0LVKUDW VWHOOWH VHLQH *HGXOG DXI HLQH KDUWH 3UREH 9ROOH ]ZHLHLQKDOE 6WXQGHQ YHUJLQJHQ ELV GDV %HZXWVHLQ GHV 'RRUL GLH HUVWHQ GHXWEDUHQ ,PSXOVH YRQ VLFK JDE6FKUHFNhEHUUDVFKXQJ5DWORVLJNHLW :DVLVWJHVFKHKHQ":RELQLFK" 8QYHUVWlQGOLFKHV 0HQWDOJHPXUPHO IROJWH 0LVKUDW LUUWH DXI GHP 3ODWHDX KLQ XQG KHUXQGYHUVXFKWHVLFK]XRULHQWLHUHQ 'DV0HHU(LQH,QVHO,FKELQDXIHLQHU,QVHO'HUYHUGDPPWH*RULP =RUQIODPPWHDXI0LVKUDWEHJULIIGDHUYRQGHPGHQHUKDWWHYHUIROJHQVROOHQ KHUHLQJHOHJW ZRUGHQ ZDU $EHU VFKRQ ZHQLJH 6HNXQGHQ VSlWHU JHZDQQ GLH $QJVW
GLH 2EHUKDQG 0LVKUDW IUFKWHWH VLFK QLFKW YRU GHU /DJH LQ GHU HU VLFK EHIDQG VRQGHUQ GDYRU ZDV PLW LKP JHVFKHKHQ ZUGH ZHQQ HU ZLHGHU PLW +LUODS ]XVDPPHQWUDI (UEULQJWPLFKXP2KLKU*|WWHUHUZLUG]RUQLJVHLQ.ZDQDQGXUKDWLKPHLQHQ $XIWUDJ JHJHEHQ XQG HU KDW LKQ QLFKW DXVIKUHQ N|QQHQ .ZDQDQGXU ZLUG VLFK DQ .URYRU ZHQGHQ XQG LKP NODUPDFKHQ GD +LUODS HLQ XQ]XYHUOlVVLJHU $JHQW LVW :HQQHVQXUHLQH0|JOLFKNHLWJlEH.ZDQDQGXU]XZDUQHQ'HU*RULPKlOWVLFK QLFKW PHKU ODQJH KLHU DXI (U VXFKW QDFK *LOJLG .ZDQDQGXU PX GDYRQ HUIDKUHQGDQQOlWVLFKGDV6FKOLPPVWHYLHOOHLFKWDEZHQGHQ$EHUZRVROOPDQ LKQILQGHQ"$QWVLUDEHYLHOOHLFKW"9DWRPDQGU\.DQGUHKR%HWDIR(VJLEWVRYLHOH )HVWXQJHQ :DUXP KDEH LFK PLFK DXI GLHVH 6DFKH HLQJHODVVHQ" 'HU 7HXIHO VROO +LUODSKROHQ+lWWHHUVLFKQLFKWHLQHQlQGHUQDXVVXFKHQN|QQHQ" 0LVKUDWV *HGDQNHQ YHUZLUUWHQ VLFK 3DQLVFKH )XUFKW HUIOOWH VHLQHQ 9HUVWDQG )HOOPHU/OR\GKDWWHKDOEODXWPLWJHVSURFKHQZDVDQYHUVWlQGOLFKHQ0HQWDOLPSXOVHQ DXILKQHLQJHVWU|PWZDU0LVKUDWZDUVRYHUlQJVWLJWGDHUNHLQHQQHXHQ*HGDQNHQ PHKUIDVVHQNRQQWH(UNHKUWHLPPHUZLHGHU]XGHQVHOEHQ,GHHQ]XUFN .ZDQDQGZ EHQDFKULFKWLJHQ GDV 6FKOLPPVWH YHUKLQGHUQ $QWVLUDEH 9DWRPDQGU\.DQGUHKR )HOOPHU ZDUWHWH QRFK HLQH 9LHUWHOVWXQGH 'DQQ ZDU HU VLFKHU GD HU YRQ 0LVKUDW QLFKWPHKUHUIDKUHQZUGH'LH$XVEHXWHZDUJHULQJHUDOVHUHUZDUWHWKDWWH$EHU HUGXUIWHVLFKQLFKWEHNODJHQ0LVKUDWZDUQXUHLQXQEHGHXWHQGHV5lGFKHQLQHLQHU 2UJDQLVDWLRQ EHU GLH HLQ :HVHQ QDPHQV .ZDQDQGXU GDV 6DJHQ KDWWH .ZDQDQGXU VWDQGLQGLUHNWHU%H]LHKXQJ]XP(ZLJHQ.ULHJHU.URYRUGDVZUGHHUVLFKPHUNHQ PVVHQ(UO|VWHGHQ+HOP ³(V JLEW KLHU IU XQV QLFKWV PHKU ]X WXQ VDJW HU ]XP $XWRSLORWHQ ³:LU NHKUHQ ]XUFN h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³*LOJLG)UVWLQGHV9RONHVGHU.LRMD6WDPPZHOW$OWURQLP(MHGD6\VWHP*DOD[LV 'KDWDEDDU .RRUGLQDWHQ IROJWHQ 'LH .LRMD VLQG GDIU EHNDQQW GD VLH VLFK VHLW -DKUKXQGHUWHQ GHQ 1DFKVWHOOXQJHQ GHV (ZLJHQ .ULHJHUV .URYRU HQW]LHKHQ XQG VLFK ZHLJHUQ LQ .URYRUV 7UR HLQ]XWUHWHQ 'LH .LRMD VLQG KXPDQRLGH :HVHQ PLW HLQHU
XUDOWHQ KRFKHQWZLFNHOWHQ .XOWXU (V JLEW *HUFKWH ZRQDFK VLH GLH JOREDOH 9HUJHLVWLJXQJDQVWUHEHQ *LOJLGLVWVHLWGDV'DWXPZDULQGRRULVFKHU=HLWUHFKQXQJDQJHJHEHQXQGEHUVHW]WH VLFKPLW-DQXDU YHUVFKZXQGHQ0DQQLPPWDQGDVLH.URYRULQGLH+lQGH ILHOXQGGLHVHUVLHJHIDQJHQKlOWXPGDV9RONGHU.LRMD]XHUSUHVVHQ .URYRU XQWHUKlOW LQ VHLQHP 0DFKWEHUHLFK VLHEHQ 5DXPIHVWXQJHQ 6LH GLHQHQ LKP DOV 5HVLGHQ]HQ DEHU HV LVW DXV GHU 9HUJDQJHQKHLW EHNDQQW GD HU DXFK XQOLHEVDPH*HJQHUGLHHUJHIDQJHQJHQRPPHQKDWLQGHQ.HUNHUQGHU)HVWXQJHQ HLQJHVSHUUWKlOW'LH1DPHQGHU)HVWXQJHQVLQG0RUDIHQREH$QDODYD9DWRPDQGU\ %HWDIR$QWVLUDEH$PSDVLQGDYD.DQGUHKR 'LH%HVFKDIIXQJGHU.RRUGLQDWHQGHUVLHEHQ)HVWXQJHQZDUQLFKW%HVWDQGWHLOGLHVHV 7HUPLQDXIWUDJV 1DFK OHW]WHQ 0HOGXQJHQ 'DWXP EHUVHW]W 0lU] KLHOW .URYRUVLFKLQ9DWRPDQGU\DXI 'HU HLJHQWOLFKH 7H[W GHU 1DFKULFKW ZDU GDPLW EHHQGHW 1XULPHU KDWWH QRFK KLQ]XJHIJW ³,FK KRIIH GX ELVW PLW PHLQHU (UOHGLJXQJ GHV $XIWUDJV ]XIULHGHQ 'DV 7HUPLQJHVFKlIWJLOWPLWGHU$EUXIXQJGHV7H[WHVDXVGHP+DXVFRPSXWHUGHV1DOLNL :DK DOV DEJHVFKORVVHQ )DOOV GX GLH $EVLFKW KDVW QDFK 'KDWDEDDU ]X JHKHQ XQG *LOJLG ]X KHOIHQ OD GLFK ZDUQHQ 'HU (ZLJH .ULHJHU .URYRU LVW DOV GHU 0HLVWHU GHV 3VLRQV EHNDQQW 8QWHU DOOHQ HVWDUWLVFKHQ :XQGHUQ GHV 5HLFKHV GHU =Z|OI *DOD[LHQ VLQG GLH &KDU\EGLVFKHQ 6LUHQHQ YRQ 'KDWDEDDU ZRKO GDV JHIlKUOLFKVWH .URYRU VFKDOWHW GLFK DXV RKQH GD GX LKQ NRPPHQ K|UVW 'X ELVW HLQ ]X JXWHU /LHEKDEHUDOVGDLFKGLFKZHJHQHLQHV$QIDOOVYRQ5LWWHUOLFKNHLWYHUOLHUHQP|FKWH :HQQ GX ZLHGHU DXI 0HGLGRRU ELVW PHOGH GLFK EHL PLU ,FK ZHUGH =HLW IU GLFK KDEHQ /lFKHOQG HUWHLOWH )HOOPHU /OR\G GHP &RPSXWHU GHQ $XIWUDJ HLQHQ $XVGUXFN GHU 1DFKULFKWDQ]XIHUWLJHQ'DV6WFN)ROLHIDOWHWHHU]XVDPPHQXQGVFKREHVLQHLQH GHU7DVFKHQVHLQHU.RPELQDWLRQ$XIGHP:HJ]X7KXVDOIDQTV.RQWRUUHFKQHWHHU EHUVFKOlJLJ(VJLQJDXI(QGH-XQL6HLWIQI0RQDWHQEHIDQG*LOJLGVLFKLQ *HIDQJHQVFKDIW 9RU GUHL 0RQDWHQ ZDU .URYRU QRFK LQ 9DWRPDQGU\ JHZHVHQ %HGHXWHWH GDV GD 9DWRPDQGU\ GLH )HVWXQJ ZDU LQ GHU *LOJLG JHIDQJHQJHKDOWHQ ZXUGH" 8Q]XUHLFKHQGH /RJLN HQWVFKLHG HU 9RU GUHL 7DJHQ KDWWH HU *LOJLGV +LOIHUXI HPSIDQJHQ 6LH PRFKWH VLFK LUJHQGZR EHILQGHQ (LQH ZLFKWLJHUH 5ROOH DOV GHU (ZLJHU.ULHJHUVFKLHQLQGLHVHP=XVDPPHQKDQJGDV*HVFK|SIQDPHQV.ZDQDQGXU ]XVSLHOHQDQGDV0LVKUDWJHGDFKWKDWWH:HUZDU.ZDQDQGXU":UGHPDQKLHUDXI 0HGLGRRUHWZDVEHULKQHUIDKUHQN|QQHQ"'LH9RUVWHOOXQJQRFKHLQSDDU7DJHKLHU ]X YHUEULQJHQ XQG DXI ,QIRUPDWLRQ ]X ZDUWHQ ZlKUHQG *LOJLG LQ .URYRUV .HUNHU VFKPDFKWHWH ZDU LKP XQV\PSDWKLVFK $EHU ZDV EUDFKWH HV HLQ ZHQQ HU DXIV *HUDWHZRKOORVIORJ"
7KXVDOIDQTEHJUWHLKQIUHXQGOLFK ³'XVLHKVWHQWVFKORVVHQDXVEHPHUNWHHU³'XVLHKVWDXVZLHHLQHUGHUGHV:DUWHQV EHUGUVVLJ LVW XQG HQWVFKLHGHQ KDW GD QXQ HWZDV XQWHUQRPPHQ ZHUGHQ PX .RPPVWGXXPGHLQ.RQWRDXI]XO|VHQ" )UGHQ%UXFKWHLOHLQHU6HNXQGHWDXFKWH)HOOPHU/OR\GLQVHLQ%HZXWVHLQ1HLQHV JLQJDOOHVPLWUHFKWHQ'LQJHQ]X'HU+lQGOHUZDUNHLQ7HOHSDWK(UEHVDQXUHLQH EHUDXVVFKDUIH%HREDFKWXQJVJDEH ³'X PDFKVW PLU $QJVW VSRWWHWH )HOOPHU ³)DVW P|FKWH PDQ PHLQHQ GX N|QQWHVW PHLQH*HGDQNHQOHVHQ 'LH $XIO|VXQJ GHV .RQWRV ZXUGH DXI IUHXQGOLFKH :HLVH DEJHZLFNHOW )HOOPHU /OR\G KDWWH LQVJHVDPW *\DULW YHUEUDXFKW DOVR VHLQHQ *HOGEHVWDQG NDXP DQJHJULIIHQ (U OLH VLFK YRQ 7KXVDOIDQT LQ )RUP YRQ (GHOVWHLQHQ XQG PLNURWHFKQLVFKHQ %DXWHLOHQ DXV]DKOHQ 'HQ 7DQ[LW ]XUFN]XYHUODQJHQ EUDFKWH HU QLFKWEHUV+HU](UKDWWHGLH)UHXGHGHV(SWXVDGEHLP$QEOLFNGHV6WHLQVJHVHKHQ (V ZlUH LKP OHLFKWJHIDOOHQ GHQ 'LIIHUHQ]EHWUDJ PLW HLQHP DQGHUHQ 7DXVFKJXW DXV]XJOHLFKHQ$EHUHUZROOWH7KXVDOIDQTQLFKWHQWWlXVFKHQ ³:LOOVW GX PLU VDJHQ ZRKLQ GHLQH 5HLVH JHKW" IUDJWH GHU +lQGOHU QDFKGHP GDV *HVFKlIWOLFKHHUOHGLJWZDU ³'KDWDEDDUDQWZRUWHWH)HOOPHU/OR\G³:LOOVWGXPLUHLQH,QIRUPDWLRQYHUNDXIHQ IDOOVGXVLHEHVLW]W" ³6HOEVWYHUVWlQGOLFK :R]X ELQ LFK +lQGOHU" 6DJ PLU ZDV GX ZLVVHQ ZLOOVW XQG ZHQQLFKGLUKHOIHQNDQQQHQQHLFKGLUGHQ3UHLV ³:HULVW.ZDQDQGXU" (VEOLW]WHLQ7KXVDOIDQTVDXVGUXFNVYROOHQ$XJHQ'LHJURHQ2KUHQULFKWHWHQVLFK QRFKVWHLOHUDXI ³(VWXWPLUOHLGLFKNDQQGLUQLFKWKHOIHQVDJWHHUXQG)HOOPHUEHU]HXJWHVLFKDXI PHQWDOHP :HJ GD HU GLH :DKUKHLW VSUDFK ³,FK ZHUGH (UNXQGLJXQJHQ HLQ]LHKHQ PVVHQ 2K QLFKW GHLQHWZHJHQ IJWH HU HLOHQGV KLQ]X DOV HU )HOOPHU /OR\G DEZLQNHQ VDK ³,FK KDEH GHQ1DPHQLQOHW]WHU=HLWGHV|IWHUHQ JHK|UW .DQQ VHLQ GD DXHU GLU PLFK QRFK MHPDQG GDQDFK IUDJW 6ROO LFK PLU HLQ *HVFKlIW HQWJHKHQ ODVVHQ" )HOOPHUVWDQGDXI ³(U KDW LUJHQG HWZDV PLW GHP (ZLJHQ .ULHJHU .URYRU ]X WXQ VDJWH GHU +lQGOHU ³5LFKWLJ GX ZLOOVW QDFK 'KDWDEDDU ,FK JHEH GLU HLQHQ 5DW (V JLEW HLQ 9RON LQ GHU *DOD[LVGHU6LUHQHQGHVVHQ)UHXQGVFKDIWGXJHZLQQHQVROOWHVW'DV9RONLVWXUDOWXQG ]lKOWQXUQRFKZHQLJHKXQGHUW:HVHQ$EHUZHQQVLFKLUJHQGMHPDQGLQ'KDWDEDDU DXVNHQQWGDQQVLQGHVGLH'XDUD ³'DVLVWJXWHU5DWVDJWH)HOOPHU/OR\G³,FKKDWWHVHOEHUVFKRQGDUDQJHGDFKW ³'XNHQQVWGLH'XDUD"IUDJWH7KXVDOIDQTYHUZXQGHUW ³,FKKDEHYRQLKQHQJHK|UWDQWZRUWHWH)HOOPHU'DYRQGDHU2EHDKNDQQWHGHQ
'XDUDGHUVLFKYRUYLHOHQWDXVHQG-DKUHQHQWVFKORVVHQKDWWHHLQ*lQJHUGHV1HW]HV ]XZHUGHQEUDXFKWHGHU+lQGOHUQLFKWV]XZLVVHQ ³,FKZQVFKHGLU*OFNVDJWH7KXVDOIDQT³'XZDUVWPLUHLQDQJHQHKPHU .XQGH XQGLFKKRIIHGXELVWPLWGHP]XIULHGHQZDVLFKGLUDOV+lQGOHUJHERWHQKDEH ³,FKELQ]XIULHGHQHUNOlUWH)HOOPHU/OR\G³:HQQLFKQDFK0HGLGRRU]XUFNNHKUH ZHUGHLFKPLFKPHLQHU*HVFKlIWHKDOEHUZLHGHUDQGLFKZHQGHQ*LE1XULPHUPHLQH (PSIHKOXQJZHQQGXVLHVLHKVW 7KXVDOIDQTVFKOXJGLH$XJHQQLHGHU ³,FK VHKH VLH QLFKW DOO]X RIW VDJWH HU ³$EHU EHL GHU QlFKVWHQ %HJHJQXQJ ZLOO LFK GHLQHQ*UXJHUQHDXVULFKWHQ 6LHKDWWDWVlFKOLFKHLQHQDXVJHIDOOHQHQ*HVFKPDFNGDFKWH)HOOPHU/OR\GEHOXVWLJW 7HUUDQHU(SWXVDGZHUZHLZDVVRQVWQRFK (UYHUOLHGDV*HOlQGHGHV1DOLNL:DK]X)X6HLQH5HFKQXQJZDUEHJOLFKHQ(U KLHOW VLFK ZHVWZlUWV ELV HU HLQ NOHLQHV :DOGVWFN HUUHLFKWH 'DQQ QDKP HU GDV *UDYR3DN LQ %HWULHE (U VWLHJ VHQNUHFKW LQ GLH +|KH ELV HU VLFK ZHLW EHU GHP 1LYHDX GHV K|FKVWJHOHJHQHQ 'RRUL+DXVHV EHIDQG 'DQQ QDKP HU .XUV DXI GLH %HUJH 'LH JDQ]H =HLW EHU KLHOW HU QDFK HLQHU MHQHU KDOENXJHOI|UPLJHQ /HXFKWHUVFKHLQXQJHQ $XVVFKDX GLH QXU IU GHQ VLFKWEDU ZDUHQ GHU GHQ $EGUXFN GHV (LQYHUVWlQGQLVVHV WUXJ XQG HLQHQ 2UW PDUNLHUWHQ DQ GHP GHU (LQVWLHJ LQV 3VLRQLVFKH1HW]VLFKPLWEHVRQGHUHU/HLFKWLJNHLWYROO]LHKHQOLH (UVWLQGHU1lKHGHU%HUJJLSIHONDPGLH/HXFKWHUVFKHLQXQJLQ6LFKW)HOOPHU/OR\G VWHXHUWHGDUDXI]X ³:LUJHKHQ]XUFNDQ%RUGGHU,//2HUNOlUWHHUGHP6\QWURQ ,FKELQ*LOJLG+HOIWPLU.URYRUKlOWPLFKJHIDQJHQ(UKDWPLFKLQHLQHQ.HUNHU GHU)HVWXQJ$PSDVLQGDYDJHVSHUUW+HOIWPLUELWWH )HOOPHU /OR\G ODXVFKWH KLQWHU GHQ *HGDQNHQZRUWHQ KHU (LQ VS|WWLVFKHV /lFKHOQ HUVFKLHQDXIVHLQHP*HVLFKW(UVHW]WHVLFKEHTXHP]XUHFKWXQGVFKORGLH$XJHQ 'HLQ5HWWHUQDKW*LOJLGGDFKWHHU 'LH ,//2 NUHX]WH PLW JHULQJHU *HVFKZLQGLJNHLW GXUFK GHQ 3VL5DXP 'LH IXQNHOQGHQ /HXFKWIRQWlQHQ GLH VSUKHQG GXUFK GDV KRORJUDSKLVFKH %LOGIHOG WDQ]WHQ UHSUlVHQWLHUWHQ 6RQQHQ LP Q|UGOLFKHQ 5DQGJHELHW GHU *DOD[LV 'KDWDEDDU 'DV 5DXPVFKLII GHV 1HW]JlQJHUV KDWWH GHQ $EJUXQG ]ZLVFKHQ GHQ EHLGHQ 6WHUQHQLQVHOQ LQQHUKDOE ZHQLJHU 6WXQGHQ EHUZXQGHQ )HOOPHU /OR\G ZDU DXI +RUFKSRVWHQ JHJDQJHQ (LJHQWOLFK KDWWH HU QXU ZDKOORV GHQ *HGDQNHQVWU|PHQ ODXVFKHQ ZROOHQ GLH GXUFKV $OO ]RJHQ 8QWHU GHQ ,PSXOVHQ GLH VHLQH 6HQVRUHQ HPSILQJHQZDUHQ*LOJLGV*HGDQNHQJHZHVHQ :LUNOLFK*LOJLGV" :HUVSULFKW]XPLU":HUVSULFKW]X*LOJLG":HUZLOOPLFKUHWWHQ"
'LH*HGDQNHQZDUHQIODFK6LHEHVDHQQXUZHQLJHPRWLRQDOH0RGXODWLRQ6LHKlWWHQ DXVHLQHUSVLRQLVFKHQ0DVFKLQHNRPPHQN|QQHQ ,FK ELQ V GHU ZHLH 5LWWHU DQWZRUWHWH )HOOPHU /OR\G 1LHPDQG NDQQ GLFK JHIDQJHQKDOWHQZHQQHVGHUZHLH5LWWHUQLFKWZLOO +LOIPLU:RELVWGX" ³6WDQGRUWEH]HLFKQXQJVDJWH)HOOPHUODXW³:HOFKHQDPKDIWH6RQQHLVWLQXQVHUHU 1lKH" ³&KLOODQJDQWZRUWHWHGLH,//2 ,FKVWHKHLQGHU1DFKEDUVFKDIWGHU6RQQH&KLOODQJGDFKWH)HOOPHU .HQQVWGXGHQ:HJ"NDPGLH)UDJH ,FKNHQQHLKQQLFKW$EHULFKZHUGHLKQHUIUDJHQ (LQHQ$XJHQEOLFNODQJKHUUVFKWH6WLOOHLP0HQWDOlWKHUDOVPVVHGHUXQVLFKWEDUH 6SUHFKHUPLWVLFK]X5DWJHKHQ 9RQ &KLOODQJ DXV LQ 5LFKWXQJ GHV =HQWUXPV YRQ 'KDWDEDDU VWHKW GLH JURH URWH 6RQQH 3DQJNDK DFKWKXQGHUW /LFKWMDKUH HQWIHUQW 'X NDQQVW 3DQJNDK QLFKW YHUIHKOHQ'LH)HVWXQJ$PSDVLQGDYDEHILQGHWVLFKLQXQPLWWHOEDUHU1lKH:LUVWGX NRPPHQ" ,FKNRPPHYHUVSUDFK)HOOPHU/OR\G (LOH)DVWQXUQRFKHLQ+DXFK'DQQZDUHVVWLOO ³.HQQVWGX3DQJNDK"IUDJWH)HOOPHU ³'LHJU|WHPDVVLYVWH6RQQHLQJDQ]'KDWDEDDUDQWZRUWHWHGLH,//2³(LQURWHU hEHUULHVH:DVZLOOVWGXGDPLW" ³:LUIOLHJHQKLQHUNOlUWH)HOOPHU ³'D ZDU HWZDV VDJWH GDV 6FKLII ³,FK VDK GLFK NRQ]HQWULHUW PLW JHVFKORVVHQHQ $XJHQDOVZlUHVWGXDXIPHQWDOHU(EHQHWlWLJ+DWHVHWZDVGDPLW]XWXQGDZLU 3DQJNDKDQIOLHJHQZROOHQ" ³-DVDJWH)HOOPHU ³,FKELQIUGHLQH6LFKHUKHLWPLWYHUDQWZRUWOLFK0DJVWGXPLUGDUEHUHU]lKOHQ" ³(V JLEW ]X YLHOH 0HFKDQLVPHQ GLH VLFK XP PHLQH 6LFKHUKHLW 6RUJH PDFKHQ EUXPPWH)HOOPHU $EHUGDQQHUVWDWWHWHHUGRFK%HULFKW ³8QGGDUDXIZLOOVWGXKHUHLQIDOOHQ"IUDJWHGLH,//2 ³5HG NHLQHQ 8QVLQQ ZHKUWH VLFK )HOOPHU ³(V ZLOO XQV MHPDQG DQ GHU 1DVH KHUXPIKUHQ+DVWGXGLH6HQGXQJDXIJH]HLFKQHW" ³6HOEVWYHUVWlQGOLFK ³0DFK HLQH DXVIKUOLFKH $QDO\VH ,FK QHKPH DQ GD ZLU YRQ HLQHU GHU &KDU\EGLVFKHQ 6LUHQHQ DQJHVSURFKHQ ZRUGHQ VLQG =HLFKQHDOOHVDXIZDVDQLKUHU SVLRQLVFKHQ (PLVVLRQ FKDUDNWHULVWLVFK RGHU DXFK XQJHZ|KQOLFK LVW :LU ZHUGHQ HV PLWGHQ6LUHQHQ]XWXQEHNRPPHQ:LUPVVHQLQGHU/DJHVHLQVLH]XHUNHQQHQ
³'DVEHGHXWHWHWZDVPHLQVWGXQLFKWDXFK"IUDJWHGLH,//2³'LH7DWVDFKHGDZLU DQJHVSURFKHQZRUGHQVLQG )HOOPHU/OR\GQLFNWH ³-DVDJWHHU³6LHZLVVHQGDZLUNRPPHQ6LHZDUWHQDXIXQV (UOLHGHQ*HGDQNHQIUHLHQ/DXI(UEUDXFKWHGLH5XKH'LH,//2ZDUDQJHZLHVHQ GHQ5DXPVHNWRU3DQJNDKPLWODQJVDPVWHU)DKUWDQ]XVWHXHUQ0LWGHU$QNXQIWLQGHU 1lKHGHU5LHVHQVRQQHZDUQLFKWYRU$EODXIYRQGUHL6WXQGHQ]XUHFKQHQ :DV KDEH LFK KLHU YHUORUHQ" IUDJWH HU VLFK (U ZDU YLHU :RFKHQ ODQJ LQ 6DFKHQ GHU *lQJHUGHV1HW]HVXQWHUZHJVJHZHVHQDOVHUEHUGHQ0DUVFKHQYRQ/HXND*LOJLGV +LOIHUXIHPSIDQJHQKDWWH(UKDWWHLQ3XEOLF5HODWLRQVJHPDFKWMDVRNRQQWHPDQHV ZRKO QHQQHQ (U ZDU EHL HLQHP JXWHQ 'XW]HQG *HKHLPRUJDQLVDWLRQHQ $JHQWHQ XQG .RQWDNWVSH]LDOLVWHQ]X*DVWJHZHVHQGLHLP5HLFKGHU(ZLJHQ.ULHJHUIUGLH6DFKH GHU*lQJHUGHV1HW]HVDUEHLWHWHQ6LHWDWHQHVDXVLQQHUHUhEHU]HXJXQJZHLOVLHGLH +HUUVFKDIWGHU.ULHJHUYHUDEVFKHXWHQXQGGLH/HKUHYRP3HUPDQHQWHQ.RQIOLNWIU HLQHQ ,UUJODXEHQ KLHOWHQ GHU 1RW XQG /HLG EHU GLH 9|ONHU GHU =Z|OI *DOD[LHQ EUDFKWH 9RQ GHQ *lQJHUQ GHV 1HW]HV HUZDUWHWHQ VLH GD HV GLHVHQ HLQHV 7DJHV JHOLQJHQ ZHUGH GLH 0DFKW GHU (ZLJHQ .ULHJHU ]X EUHFKHQ %LV GDKLQ ZROOWHQ VLH JHGXOGLJ LP 8QWHUJUXQG ZLUNHQ $EHU VLH EUDXFKWHQ =XVSUXFK 9RQ =HLW ]X =HLW PXWHHLQ1HW]JlQJHUEHLLKQHQYRUVSUHFKHQXQGLKQHQ0XWPDFKHQ%HULFKWDEOHJHQ EHUGLH)RUWVFKULWWHGLHLQ]ZLVFKHQHU]LHOWZRUGHQZDUHQ ,Q GHU 9HUJDQJHQKHLW KDWWH )HOOPHU /OR\G GLHVH $XIJDEH JHUQ EHUQRPPHQ 6LH HQWVSUDFK VHLQHP :HVHQ (V ILHO LKP OHLFKW PLW )UHPGJHVFK|SIHQ .RQWDNW ]X ILQGHQ VLFK LQ GLH :HOW LKUHU *HGDQNHQ ]X YHUVHW]HQ LKQHQ 0XW ]X]XVSUHFKHQ 'LH 3V\FKRORJHQKDWWHQLKPEHVWlWLJWGDHUHLQHHFKWH[HQRSKLOH9HUDQODJXQJEHVD $OV 6RUJHQW|WHU KDWWH HU GHU 2UJDQLVDWLRQ GHU *lQJHU GHV 1HW]HV XQVFKlW]EDUH 'LHQVWH JHOHLVWHW 'HQQ RKQH GLH YLHOHQ +XQGHUWH NOHLQHU XQG NOHLQVWHU :LGHUVWDQGVJUXSSHQ GLH EHUDOO LP JURHQ 5HLFK GHU (ZLJHQ .ULHJHU WlWLJ ZDUHQ OLHVLFKGHU3ODQGHU1HW]JlQJHUQLFKWYHUZLUNOLFKHQ :DVVROOHVDEHU"GDFKWHGHU0XWDQWWUDXULJ)QI-DKUHELQLFKQXQGDEHL6LQGZLU ZlKUHQGGHVVHQDXFKQXUHLQHQ6FKULWWZHLWHUNRPPHQ" 0LWXQWHU GUlQJWH HV LKQ DXV GHP 7URWW DXV]XEUHFKHQ XQG DXI HLJHQH )DXVW ]X KDQGHOQ 'DV $QOLHJHQ GHU *lQJHU GHV 1HW]HV GHQ 0RUDOLVFKHQ .RGH GHV 8QLYHUVXPV ]X VFKW]HQ XQG GHQ .ULHJHUNXOW ]X ]HUVW|UHQ ZDU HWZDV (GOHV 9RU DOOHQ 'LQJHQ ZDU HV HWZDV 5LFKWLJHV :HQQ GHU /HKUH YRP 3HUPDQHQWHQ .RQIOLNW QLFKW(LQKDOWJHERWHQZXUGHZUGHVLHVLFKEHUGLH*UHQ]HQGHU=Z|OI*DOD[LHQ KLQDXVDXVEUHLWHQXQGPLWLKUHQ/HLWPRWLYHQ(KUH.DPSIXQG*HKRUVDPZHLWHUKLQ GLH 6HHOHQ GHU 9|ONHU YHUJLIWHQ GHQHQ VLH GXUFK GLH 0DFKW GHU (ZLJHQ .ULHJHU DXIJH]ZXQJHQZXUGH 2K MD VLH ZDUHQ ZHLWHUJHNRPPHQ 'HU )RUWVFKULWW JHVFKDK LQ ZLQ]LJHQ 6FKULWWHQ DEHU HV ZDUHQ GHU 6FKULWWH VR YLHOH GD LKUH 6XPPH GXUFKDXV LQV *HZLFKW ILHO ,Q ]HKQ-DKUHQVFKlW]WH)HOOPHU/OR\GZUGHQGLH1HW]JlQJHUVRZHLWVHLQGDVLHGHQ
HUVWHQJURHQ6FKODJJHJHQGLH.ULHJHUIKUHQNRQQWHQ (UZDUDXVhEHU]HXJXQJHLQ*lQJHUGHV1HW]HV(UVDKGDV8QKHLOGDVGLH(ZLJHQ .ULHJHUPLWLKUHU/HKUHDQULFKWHWHQ(VZDULKPXQP|JOLFKGHQ5FNHQ]XZHQGHQ XQGVR]XWXQDOVJLQJHQGLH1RWXQGGDV/HLGHQ+XQGHUWHUYRQ6WHUQHQY|ONHUQLKQ QLFKWVDQ(UJODXEWHDQGLH$XIJDEHGLHGLH*lQJHUGHV1HW]HVVLFKJHVWHOOWKDWWHQ XQGGDUDQGDHVJHUHFKWZDUVLFKLQGHQ'LHQVWGLHVHU$XIJDEH]XVWHOOHQ $EHU HU ZDU QLFKW JHZLOOW LKU VHLQ JDQ]HV /HEHQ XQWHU]XRUGQHQ +LHU NDP HLQH ]ZHLWH VHLQHU &KDUDNWHUHLJHQVFKDIWHQ LQV 6SLHO (U ZDU ,QGLYLGXDOLVW $E XQG ]X PXWHHUZHQLJVWHQVHLQH=HLWODQJVHLQHQHLJHQHQ:HJJHKHQ(VZDUGDFKWHHUZLH HLQHKDOXWLVFKH'UDQJZlVFKH:HQQVLFKGLHVH6\PSWRPH]HLJWHQGDQQZDUHV=HLW GDHUDXIHLJHQH)DXVWORV]RJ (U KDWWH VLFK LQ GHQ $QEOLFN GHU OHXNDQLVFKHQ 0DUVFKHQ YHUVHQNW ZHLO HU GDV 'UlQJHQVSUWH(UKDWWHJHJODXEWHUN|QQHVLFKEHUXKLJHQGHQQQDFKYLHUZ|FKLJHU $EZHVHQKHLWZDUHVDQGHU=HLWGDHUQDFK6DEKDO]XUFNNHKUWH 'DQQ KDWWH HU *LOJLGV 5XI HPSIDQJHQ (V ZDU ZLH HLQ 6LJQDO JHZHVHQ ZLH HLQ )LQJHU]HLJGHV6FKLFNVDOV(UGXUIWHGHP'UDQJQLFKWOlQJHUZLGHUVWHKHQ(UPXWH DXV]LHKHQXQGVHLQHLJHQHV$EHQWHXHUHUOHEHQ(VZDUVFKOLHOLFKQLFKWVRGDHU EHGHQNHQORV GHP 9HUJQJHQ QDFKJLQJ (U ZDU XQWHUZHJV XP HLQ LQ %HGUlQJQLV JHUDWHQHV :HVHQ ]X UHWWHQ :HQQ LKP GLHV JHODQJ GDQQ KDWWHHU JOHLFK]HLWLJ GHP (ZLJHQ.ULHJHU.URYRUHLQHHFKWH6FKODSSHEHLJHIJW'HQQIU.URYRUEHVD*LOJLG DOV*HIDQJHQHRIIHQEDUHLQHQKRKHQVWUDWHJLVFKHQ:HUW %HL QlFKVWHU *HOHJHQKHLW ZUGH HU DQ HLQHP ,QIRUPDWLRQVNQRWHQ HLQH 1DFKULFKW IU GLH1HW]JlQJHUKLQWHUODVVHQ6LHVROOWHQZLVVHQZRHUVLFKDXIKLHOW 3DQJNDKHUIOOWHHLQ'ULWWHOGHV3VL)LUPDPHQWV,QGHUYHUJDQJHQHQ6WXQGHZDUVLH DXVGHPVSUXGHOQGHQZLUEHOQGHQ)DUEHQVSLHOGHV3VL5DXPVKHUYRUJHZDFKVHQXQG ]XPGRPLQLHUHQGHQ'HWDLOGHVXQZLUNOLFKHQ%LOGHVJHZRUGHQ5LHVLJEOlKWHVLFKGHU EXQWH *OXWEDOO )RQWlQHQ JOHLFK VFKRVVHQ 3URWXEHUDQ]HQ DXV GHP IHXULJHQ 5XQG VWUDKOWHQLQDOOHQ)DUEHQGHV6SHNWUXPVXQGVDQNHQZLHGHULQVLFK]XVDPPHQPLW *HVFKZLQGLJNHLWHQ GLH LKQHQ GLH 1DWXUJHVHW]H GHV 6WDQGDUGXQLYHUVXPV QLHPDOV ]XJHELOOLJW Kl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lLJHV6FKZDU]HV/RFKIDEUL]LHUHQ
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lQJHUV LQ HLQH )DOOH ]X ORFNHQ'LH,//2ZDUYRUEHUHLWHW6LHZUGHLKUH)HOGVFKLUPHDNWLYLHUHQVREDOGVLH GDV 3VLRQLVFKH 1HW] YHUOLH $EHU GLH 8QJHZLKHLW EOLHE 'HU *HJQHU DUEHLWHWH PLW GHU 7HFKQLN GHU (ZLJHQ .ULHJHU 2E HV JHJHQ VHLQH :DIIHQ HLQHQ ZLUNVDPHQ 6FKXW]JDEPXWHVLFKHUVWQRFK]HLJHQ ³:LUWDXFKHQDXIVDJWHGLH,//2 'DV IDUEHQVSUKHQGH %LOG GHV 3VL5DXPV YHUVFKZDQG 'LH 6FKZlU]H GHV $OOV HUVFKLHQ XQG GDULQ HLQJHEHWWHW GHU URWH *OXWEDOO GHU 5LHVHQVRQQH 3DQJNDK 6R JHZDOWLJZDUGHU/LFKWDXVVWRGHV6WHUQJLJDQWHQGDGDVVFKZDU]H)LUPDPHQWZLH EODQNJHSXW]WHUVFKLHQ$XHUGHUURWHQ6RQQHZDUNHLQHLQ]LJHU6WHUQ]XVHKHQ ³$OOH6LFKHUXQJHQDNWLYLHUWPHOGHWHGDV6FKLII )HOOPHU/OR\GZDUWHWH:RZDUGLH)DOOH"=ZHL0LQXWHQYHUJLQJHQ'LH,//2WULHE PLWJHULQJHU*HVFKZLQGLJNHLWDXIGHQULHVLJHQ6RQQHQEDOO]X'DV*UDYR7ULHEZHUN DUEHLWHWHPLWZHQLJPHKUDOV1XOOHLVWXQJ ³1LFKWV VDJWH GDV 6FKLII ³(V JLEW NHLQ $Q]HLFKHQ GD XQVHUH $QNXQIW EHPHUNW ZRUGHQ LVW 3DQJNDK EHVLW]W VRZHLW LFK HUNHQQHQ NDQQ GUHL 3ODQHWHQ $OOH GUHL ZHLVHQUHLQWKHUPDOH6SHNWUHQDXI:HQQKLHUMHPDQGLVW ³5XKH ELWWH ULHI GHU 0XWDQW (U KDWWH HWZDV JHVSUW (WZDV EHUKUWH VHLQ %HZXWVHLQ(LQWDVWHQGHU]DUWHU.RQWDNWZDU]XVWDQGHJHNRPPHQ *LOJLG"IUDJWHHU 0HLQ5HWWHU (U]XFNWH]XVDPPHQVRLQWHQVLYZDUHQGLH*HGDQNHQLPSXOVH ,FKVSUHGHLQH1lKH'XELVWJHNRPPHQXPPLFK]XEHIUHLHQ ,FKNRPPHULHI)HOOPHU/OR\G=HLJPLUGHQ:HJ ³8OWUDKRFKIUHTXHQWH +\SHUVWUDKOXQJ PHOGHWH GLH ,//2 ³'LH &KDUDNWHULVWLNHQ VLQGGLHVHOEHQZLHEHLGHU6HQGXQJGLHZLUYRUPHKUDOVGUHL6WXQGHQHPSILQJHQ $EHU GHU 0XWDQW K|UWH QLFKW 1LFKWV ZDV GDV 6FKLII ]X VDJHQ KDWWH JLQJ LKQ PHKU HWZDVDQ1XUQRFK*LOJLGZDUZLFKWLJ ,FKZLOOLKQGLU]HLJHQK|UWHHUVLHVDJHQ|IIQHGLH$XJHQGHLQHV%HZXWVHLQV (UVDK (U ZDU QLFKW PHKU DQ %RUG VHLQHV 6FKLIIHV (U VWDQG DXI HLQHP 3IDG GHU ]ZLVFKHQ EOWHQEHUVlWHQ%VFKHQKLQGXUFKIKUWH(LQSDDU0HWHUYRULKPWUDWHQGLH%VFKH
EHLVHLWH 'HU %OLFN |IIQHWH VLFK DXI HLQH ZHLWH *UDVIOlFKH 0LWWHQ DXI GHU :LHVH VWDQGHLQHMXQJH)UDXYRQVRXQEHVFKUHLEOLFKHU6FK|QKHLWGDLKPHLQ6FKDXHUGXUFK GHQ.|USHUULHVHOWH 6LH WUXJ HLQ ZHLHV *HZDQG GDV ELV ]XP %RGHQ UHLFKWH XQG GLH )RUPHQ LKUHV .|USHUV QXU DQGHXWXQJVZHLVH ]XU *HOWXQJ EUDFKWH ,KUH +DXW ZDU HLQ VDPWHQHV +HOOEUDXQ*URHGXQNOH$XJHQEOLFNWHQLKQHUZDUWXQJVYROODQ8PGLHYROOHQ/LSSHQ GHV NUlIWLJ DXVJHELOGHWHQ 0XQGHV VSLHOWH HLQ ]DJKDIWHV /lFKHOQ %UDXQHV +DDU ZDOOWHLQORFNLJHQ6WU|PHQEHUGLH6FKXOWHUQKHUDE ³*LOJLG 'LH)UDXKREGLH$UPH'LHVFKODQNHQ+lQGHVWUHFNWHQVLFK]XHLQHUIOHKHQGHQ*HVWH ³.RPPKLOIPLU K|UWHHUVLHUXIHQ (UZROOWHVLFKLQ%HZHJXQJVHW]HQ$EHUGDZDUHLQHJHKHLPQLVYROOH.UDIWGLHLKP GLH0XVNHOQ]XVDPPHQVFKQUWHVRGDHUQLFKWJHKHQNRQQWH6FKOLPPHUQRFK'LH 6]HQH VHOEVW JHULHW LQ %HZHJXQJ (U VDK VLH ZLH GXUFK HLQ .DPHUDREMHNWLY GHVVHQ %UHQQZHLWH VLFK VWlQGLJ YHUULQJHUWH 'LH %VFKH ZXUGHQ NOHLQHU 'LH :LHVH PLW GHU ZHLJHNOHLGHWHQ)UDXUFNWHYRQLKPZHJ1RFKHLQPDOK|UWHHU*LOJLGVYHU]ZHLIHOWHQ 6FKUHL ³+LOIPLUGRFK8PGHU/LHEHGHU*|WWHUZLOOHQKLOIPLU 'DQQ ZDU GLH ZHLH *HVWDOW QLFKW PHKU ]X VHKHQ )HOOPHU /OR\G VWHPPWH VLFK YHU]ZHLIHOWJHJHQGLH.UDIWGLHLKQXQEHZHJOLFKPDFKWH$EHUVHLQH0XVNHOQEOLHEHQ JHOlKPW'LH:LHVHZDUMHW]WQXUQRFKHLQZLQ]LJHU)OHFNLQPLWWHQHLQHUKJHOLJHQ /DQGVFKDIWGLHVLFKPLWUDVHQGHU*HVFKZLQGLJNHLWYRQLKPHQWIHUQWH6HLQ%OLFNIHOG YHUHQJWH VLFK NXU]IULVWLJ DOV UHFKWV XQG OLQNV EHU XQG XQWHU LKP JUDXH NRQWXUORVH *HELOGH DXIWDXFKWHQ GLH DQ LKP YRUEHL]RJHQ ZlKUHQG HU VHOEVW LPPHU ZHLWHU DXV GHP9RUGHUJUXQGHQWIHUQWZXUGH3O|W]OLFKZDUDXFKGLH/DQGVFKDIWYHUVFKZXQGHQ(U EHIDQG VLFK LP IUHLHQ 5DXP 9RU LKP VFKZHEWH GHQ 6FKHLQ HLQHU URWHQ 6RQQH UHIOHNWLHUHQG HLQ PlFKWLJHV YLHONDQWLJHV *HELOGH GDV DP HKHVWHQ HLQHU 5DXPVWDWLRQlKQHOWH'DKLQWHUYRQGHUNDQWLJHQ6WUXNWXU]XP7HLOYHUGHFNWEOlKWH VLFK GLH 2EHUIOlFKH HLQHV 3ODQHWHQ LQ HLQW|QLJHP YRQ EODVVHQ 6FKDWWHQ GXUFK]RJHQHP 5RWJHOE $EHU DXFK GLH 6WDWLRQ XQG GHU 3ODQHW ZLFKHQ YRU LKP ]XUFNWDXFKWHQLQGLH/HHUHGHV$OOV,PPHUZHLWHUZXUGHHUYRQLKQHQZHJJH]RJHQ ELVGLH6WDWLRQQLFKWPHKU]XVHKHQXQGGHU3ODQHWQXUQRFKHLQNOHLQHUURWHU.OHFNV ZDU(UEHZHJWHVLFKPLWGHP5FNHQDXIGLHURWH6RQQH]X,PPHUVFKQHOOHUZXUGH VHLQH)DKUW(UJODXEWHGLH+LW]HGHVIUHPGHQ*HVWLUQV]XVSUHQ$EHUHUHPSIDQG NHLQH$QJVW6HLQH*HGDQNHQ]LHOWHQHLQ]LJXQGDOOHLQDXI*LOJLG'DV+HU]]RJVLFK LKP]XVDPPHQZHQQHUVLFK GDUDQ HULQQHUWH ZLH HU VLH ]XOHW]W JHVHKHQ KDWWH PLW IOHKHQGHUKREHQHQ+lQGHQ:DUXPZDUHUVRYHUGDPPWNUDIWORV":DUXPKDWWHHU LKUQLFKWKHOIHQN|QQHQ" $EHUPDOVZDQGHOWHVLFKGDV%LOG0LWKDOEHU$XIPHUNVDPNHLWQDKPHUZDKUGDHU VLFKLQYHUWUDXWHU8PJHEXQJEHIDQG(UVDLQHLQHP6HVVHOGHVVHQ)RUPVLFKGHQ .RQWXUHQ VHLQHV .|USHUV DQSDWH 9RU LKP ZDU HLQH .RQVROH PLW *HUlWHQ GHUHQ
$Q]HLJHQ LKQ LP $XJHQEOLFN QLFKW LQWHUHVVLHUWHQ 6HLWZlUWV VFKZHEWH HLQH KRORJUDSKLVFKH 3URMHNWLRQ GLH GHQ IODPPHQGHQ 5DQG HLQHU ULHVLJHQ URWHQ 6RQQH ]HLJWHXQGGDYRUGHQURWJHOEHQ/LFKWSXQNWHLQHV3ODQHWHQ :DVVROOGDV"IUDJWHHUVLFKlUJHUOLFK(UZDUDQ%RUGVHLQHV6FKLIIHV8QG*LOJLG" 'LH%VFKHGLH:LHVHGLH5DXPVWDWLRQ":DUGDVDOOHVQXU+DOOX]LQDWLRQJHZHVHQ" .HQQVWGXGHQ:HJMHW]W"K|UWHHUHLQHVDQIWH6WLPPHIUDJHQ 'D ZXUGH LKP NODU ZDV VHLQ (UOHEQLV ]X EHGHXWHQ KDWWH .UDIW LKUHV *HLVWHV KDWWH *LOJLG LKQ ]X VLFK JHKROW 1LFKW LKQ N|USHUOLFK QXU VHLQ %HZXWVHLQ (U KDWWH JHVHKHQZRVLHJHIDQJHQJHKDOWHQZXUGH8QGQLFKWQXUGDV6LHKDWWHLKPGHQ:HJ ]XLKUHP*HIlQJQLVJH]HLJW -DLFKNHQQHLKQDQWZRUWHWHHU 'DQQNRPP*LEPLUGLH)UHLKHLWEHYRU.URYRUPLFK]XTXlOHQEHJLQQW (UVWDQGDXI ,FKNRPPHYHUVSUDFKHU ³(LQHUGHUGUHL3ODQHWHQLVWHLQHURWJHOEH:VWHQZHOW"IUDJWHHUPLWODXWHU6WLPPH 6HLQH (ULQQHUXQJ ZDU NODU (U ZXWH JHQDX ZDV JHVFKHKHQ ZDU EHYRU HU GLH VHOWVDPH5HLVH]X*LOJLGV*HIlQJQLVXQWHUQRPPHQKDWWH ³'DVLVWULFKWLJDQWZRUWHWHGLH,//2 ³6HW].XUVGRUWKLQVDJWHHU ³,FKZHUGHGHQ7HXIHOWXQHUNOlUWHGLH,//2PLWWURW]LJHU(QWVFKORVVHQKHLW ,PHUVWHQ$XJHQEOLFNPHLQWHHUHUKlWWHVLFKYHUK|UW ³:DVKDVWGXJHVDJW" ³,FK ZHUGH GHQ 7HXIHO WXQ ZLHGHUKROWH GDV 6FKLII ³'HU URWJHOEH3ODQHWEHGHXWHW *HIDKU,FKKDEHGLH$XIJDEHGLFK]XVFKW]HQ bUJHU VWLHJ LQ LKP DXI ,PPHU ZLHGHU KXVFKWH YRU VHLQHP JHLVWLJHQ$XJHGDV%LOG YRUEHUGDVLKPLP+HU]HQZHKWDWGDV%LOGHLQHUMXQJHQ)UDXLQZHLHP.OHLG ³'XKDVW]XWXQZDVLFKVDJHHUNOlUWHHUJURE ³,QQHUKDOE YHUQQIWLJHU *UHQ]HQ DQWZRUWHWH GLH ,//2 ³:HQQ GX ZLVVHQ ZLOOVW ZDUXPLFKPLFKZHLJHUHVLHKGLUGDV)RXULHUJUDPPGHLQHU1HXURQHQHPLVVLRQDQ(V VLQGGD)UHTXHQ]HQYRUKDQGHQ ³'DVNPPHUWPLFKQLFKWILHO)HOOPHU/OR\GGHU6WLPPHGHV6FKLIIHVLQV:RUW³,FK ELQKLHUKHUJHNRPPHQXP*LOJLGDXV.URYRUV.ODXHQ]XEHIUHLHQ ³8QGZRLVW*LOJLG" ³,QGHU)HVWXQJ$PSDVLQGDYD'LH)HVWXQJVLHKWDXVZLHHLQH5DXPVWDWLRQXQGNUHLVW XPGHQURWJHOEHQ3ODQHWHQEHUGHQZLUJHVSURFKHQKDEHQ ³'XKDVW*LOJLGXQGGLH)HVWXQJJHVHKHQ" ³-D ³8QG HV LVW GLU NHLQ HLQ]LJHVPDO LQ GHQ 6LQQ JHNRPPHQ GD GLFK MHPDQG XQWHU SVLRQLVFKHQ=ZDQJJHQRPPHQPLWDQGHUHQ:RUWHQGLFKK\SQRWLVLHUWKDEHQN|QQWH" ³:DVVROOGHU8QVLQQ"EUDXVWH)HOOPHU/OR\GDXI³,FKKDEHEHU]ZHLWDXVHQGMlKULJH
(UIDKUXQJ ,FK ELQ PHQWDOVWDELOLVLHUW *ODXEVW GX ZLUNOLFK GD MHPDQG PLU HWZDV YRUPDFKHQN|QQWHRKQHGDLFKHVPHUNH" ³9HUJLQLFKWGDPDQ.URYRUGHQ0HLVWHUGHV3VLRQVQHQQW'XKDVWVHOEVWDOV*LOJLG VLFK YRU GUHLHLQKDOE 6WXQGHQ ]XP HUVWHQPDO PHOGHWH YHUPXWHW GD HV VLFK GDEHL XP HLQHQ 9HUVXFK KDQGHOW XQV LQ HLQH )DOOH ]X ORFNHQ 'X VSUDFKVW YRQ *KDU\EGLVFKHQ 6LUHQHQ GLH *LOJLGV *HGDQNHQVSUDFKH ]X LPLWLHUHQ YHUVXFKWHQ 'X ZXWHVW GD XQV LP 3DQJNDK6HNWRU HLQH )DOOH HUZDUWHW +DVW GX GDV DOOHV YHUJHVVHQ" -HGHV:RUWGDVGLH,//2VSUDFKZDUZLH|OLQGDV)HXHUGHV=RUQVGHUGHQ0XWDQWHQ EHVHHOWH(UZDUDXHUVLFKYRU:XW ³,FKEHIHKOHGLUVRIRUW.XUVDXIGHQURWJHOEHQ3ODQHWHQ]XQHKPHQVFKULHHUPLW EHUVFKQDSSHQGHU6WLPPH ³'HLQ%HIHKOKDWIUPLFKNHLQH*OWLJNHLWDQWZRUWHWHGLH,//2 ³'XPHXWHUVW" ³,FKZHLJHUHPLFK%HIHKOHHLQHV8Q]XUHFKQXQJVIlKLJHQDXV]XIKUHQ )HOOPHU/OR\GULGHQ1DGOHUDXVGHP*UWHO(UWUDWDXIGLH:DQG]XDQGHUVLFK GLHPDQXHOOHQ.RQWUROOHQGHV%RUGV\QWURQVEHIDQGHQ ³'XKDVWGLFKGDVHUVWHXQGGDVOHW]WH0DOJHZHLJHUWNQLUVFKWHHU (VJDEHLQHQGQQHQ.QDOODOVGHU1DGOHUDXIIODPPWH:HLHV)HXHUVSLHOWHEHU GLH 6FKDOWZDQG 3RO\PHUPHWDOO VFKlXPWH DXI XQG UDQQ LQ GQQHQ JOKHQGHQ 5LQQVDOHQDQGHU:DQGIOlFKHKHUDE ³'X 1DUU ,//26 6WLPPH ZDU PHUNOLFK ODXWHU JHZRUGHQ ³8QG ZDV KlWWHVW GX GDYRQZHQQGXPLFKYHUQLFKWHWHVW" )HOOPHU/OR\GDQWZRUWHWHQLFKW0LWLUUDWLRQDOHP*ULPPJLQJHUJHJHQGLH.RQWUROOHQ YRU5DXFKTXROODXI(LQH5HLKHYRQ6FKDOWHUQVWDQGLQKHOOHQ)ODPPHQ ³$NNRUG EHU GLH %H]LHKXQJ ]ZLVFKHQ 6FKLIIVIKUHU XQG GHU V\QWURQLVFKHU %RUGN\EHUQHWLN]LWLHUWHGLH,//2³6HNWLRQDFKW3DUDJUDSK]ZR(VWXWPLUOHLG )HOOPHU$EHUPLUEOHLEWNHLQHDQGHUH:DKO )HOOPHU/OR\GHUVWDUUWHPLWWHQLQGHU%HZHJXQJ$OOH.UDIWZDUDXVVHLQHP.|USHU JHZLFKHQ 'HU IDXFKHQGH 1DGOHU HQWJOLWW VHLQHU +DQG XQG YHUVWXPPWH VRIRUW 'HU 0XWDQW VSUWH ZLH VLFK GHU EUHQQHQGH 6FKPHU] GHU /lKPXQJ HQWODQJ GHU 1HUYHQEDKQHQ DXVEUHLWHWH ,Q GLHVHQ +XQGHUWVWHOVHNXQGHQ YRU GHP (LQVHW]HQ GHU %HZXWORVLJNHLW]XFNWHHVZLHHLQ%OLW]GXUFKVHLQHQ9HUVWDQG(UHUNDQQWHVHLQHQ )HKOHU (U VSUWH GHQ SVLRQLVFKHQ %ORFN GHQ HLQ )UHPGHU LQ VHLQ %HZXWVHLQ PDQLSXOLHUWKDWWH ³,FKZLOOQLFKWlFK]WHHU 'DQQEUDFKHU]XVDPPHQ (UVDKDXI1HEHQLKPVFKZHEWHGLHKDOENXJHOLJH*HVWDOWHLQHV0HGRURERWHU(VZDU PHUNZUGLJ UXKLJ (U VSUWH HV 'DV 6FKLII ODJ VWLOO (U ZDU YHUZLUUW %UXFKVWFNH
YRQ (ULQQHUXQJHQ WULHEHQ GXUFK VHLQ %HZXWVHLQ *LOJLG 'LH ZHLH )UDX DXI GHU :LHVH(LQIDXFKHQGHU1DGOHU,//26HUQVWH6WLPPH ³:DVLVWJHVFKHKHQ"IUDJWHHUXQGVWHPPWHVLFKDXIGHQ(OOERJHQLQGLH+|KH (U ZDU LQ VHLQHU .DELQH -HPDQG KDWWH LKQ DXI GDV %HWW JHOHJW XQG GHQ 2EHUN|USHU HQWNOHLGHW(UVFKZDQJGLH%HLQHEHUGHQ%HWWUDQG XQG KRUFKWH LQ VLFK KLQHLQ (V IHKOWHLKPQLFKWV(UVSUWHNHLQHQ6FKPHU] 'HU0HGRURERWHUZDU]XU6HLWHJHZLFKHQ ³:LU KDEHQ GLU HLQHQ K\SQRWLVFKHQ %ORFN DXV GHP %HZXWVHLQ JH]RJHQ VDJWH GLH 6WLPPHGHV6FKLIIHV³.DQQVHLQGDGHLQ*HGlFKWQLVGDEHLHLQZHQLJJHOLWWHQKDW (VJLEWHLQH$XI]HLFKQXQJGHU'LQJHGLHVLFKLP.RQWUROOUDXP]XJHWUDJHQKDEHQ EHYRU LFK 6HNWLRQ DFKW 3DUDJUDSK ]ZR DQ GLU SUDNWL]LHUWH 'X VROOWHVW VLH GLU DQVHKHQ ³'XKDVWGXKDVWPLFK ³$XVJHVFKDOWHW LVW GDV :RUWKDOILKPGLH,//2DXV³*ODXEPLU(VZDUGULQJHQG HUIRUGHUOLFK (U VWDQG DXI XQG NOHLGHWH VLFK DQ 'HU 0HGRURERWHU HQWVFKZDQG GXUFK GLH RIIHQH 7U)HOOPHU/OR\GJLQJLQGHQ.RQWUROOUDXP:RUWORVOLHHUVLFKGLH$XI]HLFKQXQJ YRUVSLHOHQ6FKDPEHUNDPLKQ-HOlQJHUHUGHU9RUIKUXQJ]XVDKGHVWRPHKUNDP VHLQ*HGlFKWQLVZLHGHULQ2UGQXQJ (LQH=HLWODQJVDHUVWLOOQDFKGHPGDVOHW]WH%LOGYHUEODWZDU'DQQVDJWHHU ³(VWXWPLUOHLG ³9HUDXVJDEH GLFK QLFKW DQWZRUWHWH GLH ,//2 PLW IUHXQGOLFKHP 6SRWW ³9HUJL QLFKW GD LFK LQ :LUNOLFKNHLW QXU HLQH 0DVFKLQH ELQ ZHQQ DXFK PLW V\QWKHWRRUJDQLVFKHU.RPSRQHQWH )HOOPHUQLFNWH ³.URYRUKDWPLFKKHUHLQJHOHJWEUXPPWHHU ³*DQ]HLQGHXWLJ ³'XKDVWPLFKGDYRUEHZDKUWGLHXOWLPDWH9HUUFNWKHLW]XEHJHKHQ'DIUELQLFK GLUGDQNEDU ³%LWWH PDKQWH GLH ,//2 ³0LW 'DQN ZHL LFK JHQDXVR ZHQLJ DQ]XIDQJHQ ZLH PLW %HGDXHUQ XQG 6FKXOGEHZXWVHLQ 'X EUDXFKVWGHQ$NNRUGEHUGLH%H]LHKXQJQXU ]X OHVHQ XQG GLFK JHOHJHQWOLFK DXI LKQ ]X EH]LHKHQ 0LU LVW HU HLQSURJUDPPLHUW ,FK PX PLFK ZHKUHQ ZHQQ HLQ YRUEHUJHKHQG PHVFKXJJHQHU 1HW]JlQJHU VLFK DQ PHLQHU+DUGZDUH]XVFKDIIHQPDFKW ³.ODUVDJWH)HOOPHUXQGJULQVWHGD]X³:RKHUKDVWGXGDV:RUW" ³0HVFKXJJH"9RNDEXODUHLQV]XVDPPHQJHVWHOOWYRQ*HRIIU\:DULQJHU 'HU 0XWDQW ZDU QDFKGHQNOLFK JHZRUGHQ (V YHUJLQJ HLQH 0LQXWH EHYRU HU VLFK ZLHGHU]X:RUWPHOGHWH ³'LH5DXPVWDWLRQGHVURWJHOEHQ3ODQHWHQLVWDOVRQLFKWGLH)HVWXQJ$PSDVLQGDYD ³*DQ]HLQGHXWLJQLFKW
³$EHU LFK ZDU LP ,QQHUQ GHU 6WDWLRQ ZHQLJVWHQV PLW PHLQHP %HZXWVHLQ 0LU ZXUGH HWZDV YRUJHVSLHJHOW ,FK VDK *LOJLG LQ HLQHP ZHLHQ .OHLG DXI HLQHU EOXPHQEHUVlWHQ:LHVH'LH9RUVSLHJHOXQJZDUVRLQWHQVLYGDLFKNHLQH6HNXQGH ODQJDXIGHQ*HGDQNHQNDPHVN|QQWHPLFKMHPDQGQDUUHQ ³%LVWGXVLFKHUGDHV*LOJLGV%LOGZDUGDVGXVDKVW"IUDJWHGLH,//2 ³*DQ]VLFKHUDQWZRUWHWH)HOOPHU/OR\G³DEHUGDUXPJHKWHVMHW]WQLFKW0LUJHKWHV XP GLH VXJJHVWLYH %HHLQIOXVVXQJ GLH LFK QLFKW HUNDQQWH 0LU JHKW HV XP GHQ K\SQRWLVFKHQ %ORFN GHU PLU LQV %HZXWVHLQ JHVHW]W ZXUGH :HU EULQJW VR HWZDV ]XZHJH":DVLVWGDVIUHLQH5DXPVWDWLRQ":HOFKHP=ZHFNGLHQWVLH" ³,FKNDQQQLFKW*HGDQNHQOHVHQVDJWHGLH6WLPPHGHV6FKLIIHV³$EHUPLUVFKHLQW GXELVWGDEHLGLUVHOEVWGLH$QWZRUW]XJHEHQ ³(LQH6LUHQHVWLH)HOOPHU/OR\GKHIWLJKHUYRU³(LQHYRQ.URYRUV6LUHQHQ ³'HLQ6FKOXLVWIROJHULFKWLJ ³.HLQHVFK|QHQ0lGFKHQGLHDXIHLQHU,QVHOVLW]HQXQG*HVlQJHYRQVLFKJHEHQ GXUFKGLHGLHDUPHQ6FKLIIHUVLFKDEOHQNHQODVVHQVRGDLKU)DKU]HXJHQWZHGHUDQ 6]\OODV )HOVHQ ]HUVFKHOOW RGHU LQ GHQ 6WUXGHO GHU &KDU\EGLV JHULVVHQ ZLUG 'HU 0XWDQW ODFKWH ELWWHU ³(LQ KlOLFKHV PHFKDQLVFKHV *HELOGH GDV SVLRQLVFKH 6HQGXQJHQDXVVWUDKOWYRQGHQHQVRJDU)HOOPHU/OR\GVLFKQDUUHQOlW ³'X ZHLW ZDV VLH EHU GLH *KDU\EGLVFKHQ 6LUHQHQ YRQ 'KDWDEDDU VDJHQ EHPHUNWHGLH,//2³6FKRQPDQFKHU*lQJHUGHV1HW]HVKDWVLFKYRQLKQHQORFNHQ ODVVHQXQGLVWLKQHQ]XP2SIHUJHIDOOHQ ³8PVRPHKU*UXQGGDZLUHWZDVJHJHQVLHXQWHUQHKPHQVDJWH)HOOPHU ³6HKHLFKLQGHLQHQ:RUWHQGLH8PULVVHHLQHU$EVLFKW" HUNXQGLJWHVLFKGDV6FKLII YRUVLFKWLJ ³(LQHU GRSSHOWHQ $EVLFKW EHVWlWLJWH )HOOPHU ³(UVWHQV ,Q GLHVHU 6LUHQH ILQGH LFK $QJDEHQ GDUEHU ZR LFK *LOJLG VXFKHQ PX =ZHLWHQV :LU ZLVVHQ QLFKW ZLHYLHO &KDU\EGLVFKH 6LUHQHQ HV LQVJHVDPW JLEW DEHU GLHVH HLQH ZHQLJVWHQV N|QQHQ ZLU XQVFKlGOLFKPDFKHQ 'LHVPDOEUDXFKWHGLH,//2HLQZHQLJOlQJHUXP]XUHDJLHUHQ ³'HXWHLFKGDVULFKWLJ"IUDJWHVLH³'XZLOOVWQDFK3DQJNDK]XUFN" ³*DQ]VLFKHU ³1HKPHQZLUGHLQHQHUVWHQ*UXQG:HVZHJHQJODXEVWGXGDGLH6LUHQH,QIRUPDWLRQHQ EHU*LOJLGV$XIHQWKDOWVRUWEHVLW]W" ³:DV PLU YRUJHJDXNHOW ZXUGH ZDU QLFKW ILQJLHUW DQWZRUWHWH /OR\G ³'DV %LOG GHU MXQJHQ )UDX LP ZHLHQ .OHLG DXI GHU :LHVH GDV ZDU *LOJLG 0DQ KDW ,QIRUPDWLRQHQ GLH *LOJLG EHWUHIIHQ LQ GHQ SVLRQLVFKHQ 6SHLFKHU GLHVHU 6LUHQH WUDQVIHULHUW,FKELQEHU]HXJWGD]XGHP%HUHLFKLQGHPVLHJHIDQJHQJHKDOWHQZLUG WDWVlFKOLFK GLH :LHVH JHK|UW :DUXP KlWWH PDQ VLFK GLH 0KH PDFKHQ VROOHQ HLQ V\QWKHWLVFKHV%LOG]XHU]HXJHQZHQQGLH:LUNOLFKNHLWVRYLHOHLQIDFKHU]XKDEHQZDU" :HQQ HV PLU JHOLQJW GLH SVLRQLVFKHQ ,QIRUPDWLRQHQ ]X ILQGHQ GDQQ ZHL LFK ZR LFK QDFK*LOJLG]XVXFKHQKDEH
³'DV NOLQJW ORJLVFK JDE GLH ,//2 ]X ³.HQQVW GX GLFK LQ GHU 6SHLFKHUWHFKQLN GHU 6LUHQHQDXV" ³1HLQ$EHULFKNDQQZHQLJVWHQVHLQHQ9HUVXFKXQWHUQHKPHQ ³5LFKWLJ'XKDVWNHLQH$QJVWGDGXHLQ]ZHLWHV0DODQGHU1DVHKHUXPJHIKUWZLUVW" ,FK PHLQH ZLU VSUHFKHQ EHU GLHVHOEH 6LUHQH GLH GLFK YRU ]Z|OI 6WXQGHQ UHFKW EHU]HXJHQGKHUHLQJHOHJWKDW ³=Z|OI6WXQGHQ"IXKU)HOOPHUDXI³6RODQJHLVWGDVKHU" ³+\SQRWLVFKH %O|FNH ODVVHQ VLFK DXV GHP PHQWDOVWDELOLVLHUWHQ %HZXWVHLQ HLQHV 7HOHSDWKHQQLFKWJHUDGHOHLFKWHQWIHUQHQVDJWHGLH,//2 ³:LHZHLWVLQGZLUYRQ3DQJNDKHQWIHUQW" ³'UHLWDXVHQG/LFKWMDKUHHWZD ³*XW8PDXIGHLQH)UDJH]XDQWZRUWHQ9RU]Z|OI6WXQGHQZXWHGLH6LUHQHGDZLU NRPPHQ 6LH ZDU DXI XQVHUH $QNXQIW YRUEHUHLWHW 'LHVPDO NRPPH LFK XQHUZDUWHW ,FKJODXEHQLFKWGDLFKHLQJURHV5LVLNRHLQJHKH ³'XZHLWQLFKWZHOFKH.UlIWHLP,QQHUQGHU6LUHQHQDP:HUNVLQG(VLVWP|JOLFK GDGXLQ*HIDKUJHUlWVWZHLOGXGLH7HFKQLNQLFKWYHUVWHKVWPLWGHUGX]XWXQKDVW ³0|JOLFKVDJWH)HOOPHU³$EHUJLEPLUHLQELFKHQ.UHGLWIU]ZHLWDXVHQG-DKUH /HEHQVHUIDKUXQJ,FKELQ]LHPOLFKJHEWGDULQPLUGLH)LQJHUVRVHOWHQZLHP|JOLFK ]XYHUEUHQQHQ ³'HLQ (QWVFKOX VFKHLQW IHVW]XVWHKHQ DQWZRUWHWH GLH ,//2 ³,FK VHKH QLFKW ZDV LFKQRFKVDJHQN|QQWHXPGLFKGDYRQDE]XEULQJHQ ³(EHQQLFNWHGHU0XWDQW³$OVRPDFKHQZLUXQVDXIGHQ:HJ :LH HLQ PlFKWLJHV *HELUJH UDJWH GDV NDQWLJH YLHOIDFK ]HUNOIWHWH *HIJH GHU 5DXPVWDWLRQ YRU GHP NOHLQHQ %HLERRW GHU ,//2 HPSRU 0DWW VFKLPPHUQG ODJ GLH 2EHUIOlFKHGHVJLJDQWLVFKHQ*HELOGHVLP*ODQ]GHU6RQQH3DQJNDK8QUHJHOPlLJ JHIRUPWH)OlFKHQ7UDSH]H'UHLHFNH+DOENUHLVH4XDGUDWHIJWHQVLFKDQHLQDQGHU XQG ELOGHWHQ HLQHQ JHRPHWULVFKHQ :LUUZDUU LQ GHP GDV $XJH VLFK YHUORU +LQWHU VFKDUI JHVFKQLWWHQHQ .DQWHQ VWU]WHQ 6FKUXQGH LQ XQHUJUQGOLFKH ILQVWHUH 7LHIHQ )HOOPHU/OR\GIKOWHVLFKXQEHKDJOLFK)UHPGDUWLJNDOWXQGIHLQGVHOLJGUHKWHVLFK GLH 5DXPVWDWLRQ ODQJVDP XQWHU LKP KLQZHJ (U HPSIDQG QXU QRFK ZHQLJ YRQ GHU =XYHUVLFKWGLHHULP*HVSUlFKPLWGHU,//2DQGHQ7DJJHOHJWKDWWH 'LH6WDWLRQKDWWHHLQHQ'XUFKPHVVHUYRQJXWGUHL.LORPHWHUQ,KUH)RUPZDUDXVGHU )HUQH DP HKHVWHQ PLW GHU HLQHU .XJHO ]X YHUJOHLFKHQ $XV GHU 1lKH EHWUDFKWHW YHUORU VLFK GLH bKQOLFKNHLW UDVFK 'LH 2EHUIOlFKH EHVD NHLQH 6\PPHWULH (LQLJH GHU6FKUXQGHGLHVLFKILQVWHULQGLH)ODQNHQGHV*HELOGHVJUXEHQUHLFKWHQPHKUHUH KXQGHUW0HWHUWLHI$EHUQRFKLPPHUKDWWHGHU0XWDQWNHLQHQ=XJDQJ]XP,QQHUQ GHU6WDWLRQJHIXQGHQ ,Q]ZLVFKHQ KDWWH HU GHQ .ROR GUHLPDO XPUXQGHW 'HU 7DVWHU KDWWH VlPWOLFKH )DFHWWHQGHU2EHUIOlFKHHLQVFKOLHOLFKGHUWLHIHQ(LQVFKQLWWHHUIDWXQGIRUPWHDXV
GHP 'DWHQPDWHULDO HLQ GUHLGLPHQVLRQDOHV %LOG GDV LP NOHLQHQ .RQWUROOUDXP GHV %RRWHV VFKZHEWH )HOOPHU /OR\G PXVWHUWH HV QDFKGHQNOLFK ZlKUHQG VHLQH 0HQWDOVHQVRUHQDXIMHGHV*HUlXVFKODXHUWHQGDVDXVGHP,QQHUQGHU6WDWLRQGULQJHQ PRFKWH %LVMHW]WKDWWHHUNDXPHWZDV]XK|UHQEHNRPPHQ(VJDEHLQGXPSIHVXQPRGXOLHUWHV 'U|KQHQ DXI SVLRQLVFKHU (EHQH GHVVHQ ,QWHQVLWlW VFKZDQNWH ZlKUHQG GDV %RRW ODQJVDP XP GLH 6WDWLRQ NUHLVWH (U KDWWH GDV VWHWH *HUlXVFK ]XP HUVWHQPDO ZDKUJHQRPPHQ DOV HU QRFK DFKW /LFKWVHNXQGHQ YRQ GHU 6WDWLRQ HQWIHUQW ZDU (V NDP ZDKUVFKHLQOLFK YRQ GHQ SVLRQLVFKHQ $JJUHJDWHQ GLH LUJHQGZR LP ,QQHUQ GHV .RORVVHV WlWLJ ZDUHQ 6LH VFKLHQHQ LP /HHUODXI ]X DUEHLWHQ )HOOPHU /OR\G ZDU VLFKHUGDHUHVVSUHQZUGHZHQQGLH6LUHQHLQ7lWLJNHLWWUDWGKZHQQVLHHLQH LKUHU /RFNERWVFKDIWHQ DEVWUDKOWH (U IUDJWH VLFK ZLH VHLQ %HZXWVHLQ GDUDXI UHDJLHUHQZUGH:DUHUHPSIlQJOLFKIU/RFNUXIHGLHQLFKWGLUHNWDQLKQJHULFKWHW ZDUHQ" (U PXWH GDPLW UHFKQHQ (U PXWH 9RUVRUJH WUHIIHQ IU GHQ )DOO GD GLH 6LUHQHWlWLJZXUGHVRODQJHHUVLFKLQGHU1lKHEHIDQG (U KDWWH GLH ,//2 LQ XQPLWWHOEDUHU 1lKH GHU 6RQQH 3DQJNDK ]XUFNJHODVVHQ 'DV 6FKLII XPNUHLVWH GHQ 5LHVHQVWHUQ DXI HLQHU %DKQ GLH LP ,QQHUQ GHU 6RQQHQNRURQD ODJ,P*HIDKUHQIDOOKDWWHGLH,//2$XIWUDJLQGLHREHUVWHQ6FKLFKWHQGHU3KRWR VSKlUH KLQDE]XWDXFKHQ XQG VLFK YRU (QWGHFNXQJ ]X VFKW]HQ 'DV JHVDPWH 3DQJNDK6\VWHP ODJ LP (LQ]XJVEHUHLFK HLQHV 3UlIHUHQ]VWUDQJV HLQHU MHQHU )HOGOLQLHQGHV3VLRQLVFKHQ1HW]HVDOVRDXIGHQHQHLQ*lQJHUGHV1HW]HVVLFKQDFKGHU 0HWKRGH GHV 3HUV|QOLFKHQ 6SUXQJV EHZHJHQ NRQQWH )HOOPHU /OR\G KlWWH GDV %RRW QLFKWJHEUDXFKWXPGLH6WDWLRQ]XHUUHLFKHQ(UKlWWHVLHPLWHLQHPNXU]HQ6SUXQJ HQWODQJGHVSVLRQLVFKHQ1HW]IDGHQVDQVWHXHUQN|QQHQ$EHUGDV%RRWEHVD:DIIHQ XQG *HUlWH DXI GLH HU ZlKUHQG VHLQHV 9RUVWRHV ZRP|JOLFK DQJHZLHVHQ VHLQ ZUGH 'HVZHJHQ KDWWH HU VLFK IU GLH XPVWlQGOLFKHUH $UW GHV 7UDQVSRUWV HQWVFKLHGHQ 'DV %LOG GHU 6WDWLRQ NUHLVWH ODQJVDP )HOOPHUV $XIPHUNVDPNHLW NRQ]HQWULHUWH VLFK DXIGLHWLHIHQ(LQVFKQLWWHYRQGHQHQHLQLJHIDVWELV]XP0LWWHOSXQNWGHV.RORVVHV KLQDE]XUHLFKHQ VFKLHQHQ ,Q HLQHU GLHVHU 6FKUXQGH PXWH HV HLQHQ =XJDQJ JHEHQ 'LHHLJHQZLOOLJH)RUPGHU6WDWLRQHUNOl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lFKH GHU 6WDWLRQ JUXE 'HU (LQVFKQLWW ODJ DXI GHU JHJHQZlUWLJ GHU
6RQQH]XJHZDQGWHQ6HLWHGHV.RORVVHV'LH6WDWLRQURWLHUWHODQJVDPHWZDHLQPDO DOOH]ZHL6WXQGHQXPHLQH$FKVHGLHVHQNUHFKWDXILKUHU%DKQHEHQHVWDQG 'DV%RRWVDQN]ZLVFKHQGHQ.DQWHQGHV(LQVFKQLWWVLQGLH7LHIH'UDXHQZXUGHHV ILQVWHU 'HU 7DVWHU WUDW YRQ QHXHP LQ 7lWLJNHLW XQG ]HLJWH ]ZHL NDKOH IXJHQORVH :lQGHGLHLQVDQIWHU1HLJXQJDXIHLQDQGHU]XVWUHEWHQVRGDGHU5DXPLQGHPGDV %RRW PDQ|YULHUHQ NRQQWH VLFK VWHWLJ YHUHQJWH 'LH 6RKOH GHV (LQVFKQLWWV ODJ ]Z|OIKXQGHUW0HWHUXQWHUGHU2EHUIOlFKH )HOOPHU EHREDFKWHWH GDV 7DVWHUELOG PLW ZDFKHQ 6LQQHQ $EHU GLH :lQGH EOLHEHQ JODWW6HLQH+RIIQXQJGDVLFKKLHULUJHQGZRGLH8PULVVHHLQHV6FKRWWHVDE]HLFKQHQ P|FKWHQ GLH HLQHQ (LQVWLHJPDUNLHUWHQHUIOOWHVLFKQLFKW$XVIQIKXQGHUW0HWHUQ (QWIHUQXQJ HQWKOOWH GDV %LOG HUVWH (LQ]HOKHLWHQ DXI GHU 6RKOH GHV (LQVFKQLWWV )HOOPHUVDKHLQHDQQlKHUQGUHFKWHFNLJH)OlFKHYRQIQI]LJPDODFKW]LJ0HWHUQXQG LQHLQHUGHUYLHU(FNHQHLQHQGXQNOHQ)OHFNGHVVHQ'XUFKPHVVHUIQI0HWHUEHWUXJ (UKLHGHQ7DVWHUGLH/HLVWXQJYHUJU|HUQ'HU)OHFNHUNDQQWHHUZHQLJH6HNXQGHQ VSlWHU PDUNLHUWH GDV (QGH HLQHV 6WROOHQV GHU WLHI LQV ,QQHUH GHU 6WDWLRQ IKUWH (V JHODQJ GHP 7DVWHU QLFKW LKQ DXV]XORWHQ 'DV %QGHO GHU 7DVWVWUDKOHQ VWLH IQI]LJ 0HWHUMHQVHLWVGHU6WROOHQPQGXQJDXIHLQ+LQGHUQLVYRQGHPHVUHIOHNWLHUWZXUGH 'LH$XVNXQIWGLH)HOOPHUHUKLHOWODXWHWHMHGRFKGDV+LQGHUQLVVHLQLFKWPDWHULHOO 'DV%RRWVHW]WHDXI)HOOPHU/OR\GVFKORGHQ+HOPGHU1HW]PRQWXU :LUJHKHQDXIHLQHJHIlKUOLFKH0LVVLRQPHLQ)UHXQG
VDJWHHU ³6R"6FKRQZLHGHU"TXHQJHOWHGHU6\QWURQ³%HLGLUKDWPDQQLH5XKH ³0DQ KDW GLFK DXFK QLFKW GDIU JHEDXW GD GX VWlQGLJ 5XKH KDVW DQWZRUWHWH )HOOPHU³'LUIlOOWGLHVPDOHLQHEHVRQGHUVZLFKWLJH$XIJDEH]X ³:DV"9HUVXFKVWGXPLFK]XN|GHUQLQGHPGXPLFKZLFKWLJPDFKVW" ³'XKDVWPLFK]XEHREDFKWHQHUNOlUWH)HOOPHURKQHDXIGLHVS|WWLVFKH%HPHUNXQJGHV 6\QWURQV HLQ]XJHKHQ ³:LU EHZHJHQ XQV LQ HLQHP *HOlQGH GDV YRQ SVLRQLVFKHQ (LQIOVVHQGXUFK]RJHQZLUG(VNDQQVHLQGDHLQHUGHU(LQIOVVHPLFKEHUZlOWLJW 'XPHUNVWHVGDUDQGDLFKXQORJLVFKHRGHUJHIlKUOLFKH(QWVFKHLGXQJHQWUHIIH ³:lUHQLFKWGDVHUVWHPDOPHFNHUWHGHU6\QWURQ ³6WLOO:HQQGXIHVWVWHOOVWGDVRHWZDVJHVFKLHKWEHUQLPPVWGXGDV.RPPDQGR ³,FK" ³-DGX ³,FKWUHIIHGLH(QWVFKHLGXQJHQXQDEKlQJLJGDYRQZDVGXVDJVW" ³6RLVWHVEHVWlWLJWH)HOOPHU ³'XNDQQVWGLFKDXIPLFKYHUODVVHQHUNOlUWHGHU6\QWURQ 'XQNHO XQG GURKHQG ]RJ VLFK GHU 6WROOHQ GXUFK GLH PHWDOOHQH :DQG GHV .RORVVHV )HOOPHU /OR\G YHU]LFKWHWH ]XQlFKVW DXI GHQ *HEUDXFK GHV *UDYR3DNV (U KDWWH VLFK YRP REHUHQ 6WROOHQUDQG DEJHVWRHQ XQG WULHE ODQJVDP GXUFK GLH )LQVWHUQLV 'LH 0DVVHGHU6WDWLRQUHLFKWHQLFKWDXVHLQVSUEDUHV6FKZHUHIHOG]XHU]HXJHQ
,Q IQI]LJ 0HWHUQ 7LHIH VLJQDOLVLHUWHQ GLH 0HLQVWUXPHQWH GHU 1HW]NRPELQDWLRQ HLQH 6HULH VFKZDFKHU HQHUJHWLVFKHU )HOGHU GLH )HOOPHU RKQH =ZLVFKHQIDOO SDVVLHUWH 'DV PXWHGDV+LQGHUQLVVHLQDQGHPGDV6WUDKOHQEQGHOGHV7DVWHUVDEJHSUDOOWZDU(U NRQQWH GHQ 6LQQ GHU )HOGHU QLFKW HUNHQQHQ %DOG QDFK GHP 3DVVLHUHQ GHV +LQGHUQLVVHVVSUWHHUMHGRFKGDHUVLFKQLFKWPHKUDXIJHUDGHU%DKQEHZHJWH(U KDWWH+HOPXQG%UXVWVFKHLQZHUIHUHLQJHVFKDOWHWXQGVDKZLHHUVLFKGHU6WROOHQZDQG QlKHUWH$OVHUGLH:DQGEHUKUWHILQJHUVLFKDE -HW]W VSUWH HU GHXWOLFK GHQ 6RJ HLQHV VFKZDFKHQ *UDYLWDWLRQVIHOGV (V ZDU JHUDGH NUlIWLJJHQXJLKPHLQ*HIKOIUREHQXQGXQWHQ]XYHUPLWWHOQ(UVWDQGHLQLJHUPDHQ VLFKHU DXI GHU 6WROOHQZDQG GLH MHW]W ]XP %RGHQ JHZRUGHQ ZDU $EHU KDVWLJH %HZHJXQJHQGXUIWHHUQLFKWDXVIKUHQ(UZlUHGDYRQJHVFKQHOOWZRUGHQ $XIGHU9LGHRIOlFKHGHU+HOPLQQHQVHLWHIODFNHUWHHLQ6\PERO *DVVSXUHQ EHVDJWH HV 6HNXQGHQ VSlWHU NDP GLH $QDO\VH 6DXHUVWRII XQG +HOLXP )HOOPHU/OR\GVHW]WHVLFKLQ%HZHJXQJ9RUVLFKWLJPLWJOHLWHQGHQ6FKULWWHQJLQJHU ZHLWHULQGHQ6WROOHQKLQHLQ ³*DVGLFKWHQLPPW]XVDJWHGHU6\QWURQ³=XVDPPHQVHW]XQJXQYHUlQGHUW 1RFKHWZDVDQGHUHVJHVFKDK'DV*UDYLWDWLRQVIHOGZXUGHNUlIWLJHU(UEUDXFKWHMHW]W QLFKWPHKUPLWGHQ)HQDP%RGHQHQWODQJ]XJOHLWHQ(UNRQQWHIHVWDXIWUHWHQ (U EOLHE VWHKHQ XQG KRUFKWH 'DV SVLRQLVFKH +LQWHUJUXQGUDXVFKHQ ZDU VWHWLJ LQWHQVLYHU JHZRUGHQ VHLWGHP HU PLW GHP %RRW LQ GHQ (LQVFKQLWW HLQJHIORJHQ ZDU 'DV NRQQWH PDQ YHUVWHKHQ (U QlKHUWH VLFK GHP 6WDQGRUW GHU $JJUHJDWH GLH PLW SVLRQLVFKHU (QHUJLH DUEHLWHWHQ $EHU MHW]W HPSILQJ HU ]XP HUVWHQ 0DO DUWLNXOLHUWH ,PSXOVH6LHZDUHQIOFKWLJXQGYHUJLQJHQHEHQVRVFKQHOOZLHGHUZLHVLHJHNRPPHQ ZDUHQ$QJVWNDPLQLKQHQ]XP$XVGUXFNXQGGLH+RIIQXQJGDQRFKUHFKW]HLWLJ HLQ9HUVWHFNJHIXQGHQZHUGHQN|QQH *LOJLG"VFKRHVLKPGXUFKGHQ6LQQ (U YHUZDUI GHQ *HGDQNHQ UDVFK ZLHGHU 'LH ,PSXOVH GLH HU HPSIDQJHQ KDWWH VWDPPWHQDXVHLQHP*HKLUQGDVLQIUHPGDUWLJHQ%DKQHQGDFKWH'LH6LJQDOHGLHHU YRQ *LOJLG HPSIDQJHQ KDWWH GDPDOV DOV HU EHU GHQ OHXNDQLVFKHQ 0DUVFKHQ NUHX]WH ZDUHQ XQNRPSOL]LHUW XQG OHLFKW YHUVWlQGOLFK JHZHVHQ VR ZLH VHLQH HLJHQHQ-HPDQGDQGHUVGDFKWHKLHUHLQIUHPGHV:HVHQPLWH[RWLVFKHU'HQNZHLVH (U JLQJ ZHLWHU (U EHIDQG VLFK MHW]W EHU HLQKXQGHUW 0HWHU YRP (LQJDQJ GHV 6WROOHQVHQWIHUQW'DQQK|UWHHUGHQ6\QWURQVDJHQ ³(LQ ZHLWHUHV +LQGHUQLV lKQOLFK EHVFKDIIHQ ZLH GDV HUVWH ,FK NDQQ NHLQH *HIDKU HUNHQQHQ )HOOPHU /OR\G IKOWH VLFK WURW]GHP XQVLFKHU 'LH %DUULHUHQ GLH LQ :LUNOLFKNHLW NHLQHZDUHQYHUZLUUWHQLKQZHLOHUVLFKQLFKWHUNOlUHQNRQQWHZHOFKHP=ZHFNVLH GLHQWHQ (U ]RJ XQZLOONUOLFK GLH 6FKXOWHUQ HLQ ZHQLJ HLQ DOV HU GDV XQVLFKWEDUH +LQGHUQLVGXUFKTXHUWH
(LQHQ6FKULWWWDWHUQRFKGDQQEOLHEHUZLHDQJHQDJHOWVWHKHQ%OHQGHQGH+HOOLJNHLW VWU|PWHDXILKQHLQXQGLQPLWWHQGHU+HOOLJNHLWHQWVWDQGHQ.RQWXUHQ 6WDXQHQG EOLFNWH HU LQ HLQH YRP *ODQ] HLQHU IUHPGHQ 6RQQH EHUJRVVHQH /DQGVFKDIW(UVWDQGDXIHLQHPPLW*HU|OOEHGHFNWHQ+DQJGHUVLFKHLQHUJUDVLJHQ PLW HLQ]HOQHQ %XVFK XQG %DXPJUXSSHQ EHVWDQGHQHQ (EHQH HQWJHJHQQHLJWH =X VHLQHU 5HFKWHQ XQG ]XU /LQNHQ VHW]WH VLFK GLH *HU|OOKDOGH IRUW XQG HQGHWH DXI EHLGHQ6HLWHQDP)XVFKURIIDXIUDJHQGHU)HOVPDVVHQ$XFKXQPLWWHOEDUKLQWHULKP VWLHJHLQHJUDXH)HOVZDQGVWHLOLQGLH+|KH9RQGHP6WROOHQLQGHPHUVLFKHEHQQRFK EHIXQGHQKDWWHZDUNHLQH6SXUPHKU]XVHKHQ (U VSUWH VHLQ YROOHV *HZLFKW 'LH 6FKZHUNUDIW HQWVSUDFK DQQlKHUQG GHU 7HUUD 1RUP ³$WHPEDUHV *DVJHPLVFK VDJWH GHU 6\QWURQ ³'UHLLJ 3UR]HQW 6DXHUVWRII VLHE]LJ 3UR]HQW+HOLXP.HLQHDQGHUHQ%HLPHQJXQJHQ2IIHQEDUNQVWOLFK (UK|UWHNDXP]X(UZXWHGDHVGLH/DQGVFKDIWGLHHUYRUVLFKVDKQLFKWZLUNOLFK JDE(UEHIDQGVLFKLP%DQQEHUHLFKHLQHUSVLRQLVFKLQGX]LHUWHQ+DOOX]LQDWLRQ6HLQ %OLFNJLQJDQGHQ%HUJHQHQWODQJGLHGLHJUDVLJH(EHQHVlXPWHQ$XIGHQK|FKVWHQ *LSIHOQJOLW]HUWH6FKQHHLP:LGHUVFKHLQGHUIUHPGHQ6RQQHGLHDOVJURHUJHOEOLFK OHXFKWHQGHU%DOOLQPLWWHQHLQHVZRONHQORVEODXHQ)LUPDPHQWVVFKZHEWH /DQJVDPVFKULWWHUEHUGLH+DOGHKLQDEDXIGDV*UDVODQG]X6HLQ0HQWDOVLQQZDU DQJHVSDQQW 9HUZRUUHQH ,PSXOVH VFKZDFK XQG XQYHUVWlQGOLFK GUDQJHQ LQ VHLQ %HZXWVHLQ ,Q GHU )HUQH VDK HU *HVFK|SIH GLH 9|JHO VHLQ PRFKWHQ EHU HLQHU %DXPJUXSSH NUHLVHQ 9RQ LKQHQ XQG YRQ DQGHUHQ 7LHUHQ GLH GLH (EHQH EHY|ONHUWHQVWDPPWHQGLHXQGHXWOLFKHQ6LJQDOH 'HU HUVWH YHUVWlQGOLFKH *HGDQNH GHQ HU HPSILQJ ZDU VR YHKHPHQW GD HU ]XVDPPHQ]XFNWH(LQYHUGDPPWHU)UHPGHUVFKULHGHU*HGDQNH$XVO|VFKHQ(VODJ VRYLHO+DLQGHUNXU]HQ6HULHYRQ0HQWDOLPSXOVHQGD)HOOPHU]XWLHIVWHUVFKUDN(U VDKVLFKXPXQGVXFKWHQDFK'HFNXQJ'HUJHKlVVLJH*HGDQNHJDOWLKP ³)UHPGHV)OXJREMHNWIQI8KUKRFKZDUQWHGHU6\QWURQ )HOOPHU /OR\G ZDUI VLFK KHUXP $Q GHU )HOVZDQG KXVFKWH HLQ ILQVWHUHU 6FKDWWHQ HQWODQJ EHVFKULHE HLQH HQJH .XUYH XQG NDP DXI LKQ ]X )HOOPHU HUNDQQWH GLH JHGUXQJHQH )RUP HLQHV *OHLWHUV ZLH HU DXI YLHOHQ :HOWHQ LP 5HLFK GHU (ZLJHQ .ULHJHU LP (LQVDW] ZDU 'LH 6RQQH VSLHJHOWH VLFK LP WUDQVSDUHQWHQ 0DWHULDO GHU .DQ]HO )U GHQ %UXFKWHLO HLQHU 6HNXQGH JODXEWH )HOOPHU GLH 8PULVVH HLQHV :HVHQV]XVHKHQGHVVHQ.RSIDXVHLQHP%QGHOYRQ%OlWWHUQ]XEHVWHKHQVFKLHQ 'LHKDHUIOOWHQ*HGDQNHQGHV)UHPGHQKlPPHUWHQDXILKQHLQ 'XKDVWKLHUQLFKWVYHUORUHQ6WLUE (UOLHVLFK]X%RGHQIDOOHQXQGNURFKVRUDVFKHUNRQQWHGHQ:HJ]XUFNGHQHU JHNRPPHQ ZDU 1XU ]ZLVFKHQ GHQ )HOVHQ NRQQWH HU 'HFNXQJ ILQGHQ 0LW (UOHLFKWHUXQJ EHPHUNWH HU GDV OHLFKWH )OLPPHUQ XQG *OLW]HUQ GDV EHUDOO GRUW HQWVWDQG ZR HU PLW GHQ +lQGHQ GHQ $UPHQ RGHU GHP /HLE GHQ %RGHQ EHUKUWH
'HU6\QWURQKDWWHGHQ,QGLYLGXDOVFKLUPDNWLYLHUW (LQ JUHOOHU %OLW] VFKOXJ NUDFKHQG ZHQLJH 0HWHU YRU LKP LQV *HU|OO 6WHLQH OHXFKWHWHQ DXI XQG ZXUGHQ ]X JOKHQGHU EUHLLJHU 0DVVH (LQ .UDWHU HQWVWDQG )HOOPHUVWHPPWHVLFKLQGLH+|KHVHW]WHPLWHLQHP6SUXQJEHUGHQIODPPHQGHQ TXDOPHQGHQ7ULFKWHUKLQZHJXQGVSUWHZLHGDVNQVWOLFKH6FKZHUHIHOGGHV*UDYR 3DNV]XZLUNHQEHJDQQ0LW]XQHKPHQGHU*HVFKZLQGLJNHLWWULHEHUDXIGLH)HOVZDQG ]X6HLQVXFKHQGHU%OLFNIDQGGLH1LVFKH]ZLVFKHQ]ZHLVWHLOLQGLH+|KHUDJHQGHQ 0RQROLWKHQXQGGDVGXQNOH/RFKLP+LQWHUJUXQGGDVGHU(LQJDQJHLQHU+|KOHVHLQ PRFKWH(UYHNWRULHUWHGDV*UDYR3DNHQWVSUHFKHQG 'HU*OHLWHUKDWWHLQ]ZLVFKHQJHZHQGHWXQGNDPKLQWHULKPKHU 'HUQlFKVWH6FKXJHKWLQV=LHOKlPPHUWHQGLHKDHUIOOWHQ*HGDQNHQ )HOOPHU ZDU KLOIORV /RKHQGHV )HXHU KOOWH LKQ HLQ 'HU )HOGVFKLUP JOKWH LQ LQWHQVLYHP %ODX HLQ =HLFKHQ GD HU EHUODVWHW ZDU 'HU 6WUDKOXQJVGUXFN WULHE )HOOPHU YRUZlUWV 6HLWOLFK YRU LKP EURGHOWH GHU )HOV *OKHQGH *HVWHLQVIRQWlQHQ VSUDQJHQ ]LVFKHQG LQ GLH +|KH 'HU 'RQQHU GHU (QWODGXQJ KDOOWH DQ GHQ %HUJZlQGHQHQWODQJ 'XUFK HLQ ZDJKDOVLJHV 6HLWZlUWVPDQ|YHU HQWNDP GHU 0XWDQW GHP KRFKHQHUJHWLVFKHQ 6WUDKOHQEQGHO (U K|UWH LQ VHLQHP %HZXWVHLQ GHQ )OXFK GHV 9HUIROJHUV GHU VLFK EHU VHLQHQ )HKOVFKX lUJHUWH 'LH :DIIH GLH HU JHEUDXFKWH ZDU RIIHQEDU HLQ VWDUU HLQJHEDXWHU 7KHUPREODVWHU JU|HUHQ .DOLEHUV (U ZDU JH]ZXQJHQ PLW GHP JDQ]HQ )DKU]HXJ ]X ]LHOHQ 'DV ZDU XPVWlQGOLFK XQG ]HLWUDXEHQG )U )HOOPHU /OR\G MHGRFK EHGHXWHWH HV GLH 5HWWXQJ 'LH EHLGHQ 0RQROLWKHQVFK|VVHQUHFKWVXQGOLQNVDQLKPYRUEHL'DV*UDYR3DNEUHPVWHVFKDUI XQGVHW]WHLKQQLFKWEHVRQGHUVVDQIWDXIGHP%RGHQGHU1LVFKHDE(UZDUIVLFKQDFK YRUQHXQGNURFKLQGDVGXQNOH/RFKGHU+|KOH +LQWHU LKP NUDFKWH HV *OKHQGHV *HVWHLQ VSULW]WH (LQH KDUWH 'UXFNZHOOH IDXFKWH KLQWHU)HOOPHUKHU(UEHPHUNWHHUVWMHW]WGD+HOPXQG%UXVWVFKHLQZHUIHUQRFK LPPHUHLQJHVFKDOWHWZDUHQ6LHOHXFKWHWHQLKPGHQ:HJ'LH+|KOHZDUVFKPDOXQG 62 QLHGULJ GD HU QLFKW DXIUHFKW VWHKHQ NRQQWH $EHU VLH UHLFKWH WLHIHU LQ GHQ %HUJ KLQHLQDOVGLHEHLGHQ/LFKWNHJHO]XIROJHQYHUPRFKWHQ ,UJHQGZDQQZLUVWGXZLHGHUDXIWDXFKHQ:XWXQG(QWWlXVFKXQJPLVFKWHQVLFKPLW GHP+DGHV8QEHNDQQWHQ,FKZDUWH'XHQWNRPPVWPLUQLFKW )HOOPHU/OR\GNURFKZHLWHU-HW]WGDGLH'UXFNZHOOHYHUHEEWZDUVSUWHHUGHQNKOHQ /XIW]XJGHULKPHQWJHJHQVWULFK(VJDELUJHQGZRHLQHQ]ZHLWHQ$XVJDQJ(UKDWWH NHLQH /XVW GRUWKLQ]XUFN]XNHKUHQZRGHUYRQXQVWLOOEDUHP+DEHVHHOWH9HUIROJHU DXILKQZDUWHWH'XUFKGHQDQGHUHQ$XVJDQJNRQQWHHULKPZRP|JOLFKHQWNRPPHQ 'LH +|KOH ZHLWHWH VLFK 'LH IHOVLJH 'HFNH ZLFK QDFK REHQ ]XUFN )HOOPHU VWDQG DXI (U VDK GD GHU 6\QWURQ GHQ ,QGLYLGXDOVFKLUP GHDNWLYLHUW KDWWH 0LW HLQHP DNXVWLVFKHQ %HIHKO O|VWH HU GLH 9HUULHJHOXQJ GHV +HOPHV 'DV WUDQVSDUHQWH *HELOGH
UROOWHVLFK]XVDPPHQXQGYHUVFKZDQGLQHLQHU7DVFKHGLHLQ)RUPHLQHV'UHLYLHUWHOULQJV LP+DOVDQVDW]GHU1HW]NRPELQDWLRQDQJHEUDFKWZDU 9HUGURVVHQ VHW]WH HU VHLQHQ :HJ IRUW (U PRFKWH VHLQHP PRUGOVWHUQHQ 9HUIROJHU IUVHUVWHHQWNRPPHQVHLQ$EHUVHLQH/DJHZDUDOOHVDQGHUHDOVDQJHQHKP(UKDWWH GDV,QQHUHGHU6LUHQHHUIRUVFKHQZROOHQ(UVXFKWHQDFK,QIRUPDWLRQHQGLHVLFKDXI *LOJLGV$XIHQWKDOWEH]RJHQ$QVWDWWHLQHUWHFKQLVFKHQ$QODJHLQGHUPLWSVLRQLVFKHU (QHUJLHJHDUEHLWHWZXUGHKDWWHHUHLQH7UDXPZHOWJHIXQGHQLQGHUHVRIIHQEDUK|FKVW JHIlKUOLFK ]XJLQJ 0RFKWH ZDV HU ULQJV XP VLFK VDK HLQH +DOOX]LQDWLRQ VHLQ 'LH %ODVWHUVFKVVH GHV 9HUIROJHUV ZDUHQ XQDQJHQHKP UHDO JHZHVHQ (U KDWWH GHQ ,QGLYLGXDOVFKLUP IODFNHUQ VHKHQ (U KDWWH GHQ 5XFN JHVSUW GHQ GHU 6WUDKOXQJVGUXFN LKP YHUVHW]WH XQG GLH +LW]H HPSIXQGHQ GLH GXUFK GHQ 6FKXW]VFKLUP GUDQJ (U ]ZHLIHOWHQLFKWGDUDQGDHLQZHLWHUHU7UHIIHULKQDXVJHO|VFKWKlWWH :RKLQVROOWHHUVLFKZHQGHQ":RVROOWHHUQDFKGHQ,QIRUPDWLRQHQ VXFKHQ GLH HV LP ,QQHUQGHU6LUHQHLUJHQGZRJHEHQPXWH"8PGLH5FNNHKU]XU,//2PDFKWHHUVLFK NHLQH6RUJHQ(UEHIDQGVLFKLP%DQQEHUHLFKHLQHV3UlIHUHQ]VWUDKOVGHV3VLRQLVFKHQ 1HW]HV(UNRQQWHVLFKMHGHU]HLWLQV1HW]HLQIlGHOQXQGGLH5DXPVWDWLRQYHUODVVHQ $EHU HU ZDU QLFKW KLHUKHUJHNRPPHQ XP VLFK JOHLFK ZLHGHU DXV GHP 6WDXE ]X PDFKHQ (U ZROOWH ZLVVHQ ZR *LOJLG JHIDQJHQJHKDOWHQ ZXUGH 8QG HU ZROOWH GLH &KDU\EGLVFKH6LUHQHYHUQLFKWHQGDPLWVLHQLHZLHGHUGD]XEHQW]WZHUGHQNRQQWH HLQHQ*lQJHUGHV1HW]HVLQ.URYRUV)DOOH]XORFNHQ :REOLHEHQDOOHVHLQH3OlQHZHQQHUGHQ$XVJDQJDXVGLHVHU6FKHLQZHOWQLFKWIDQG" (U ZDU MHW]W HWZD ]ZHL .LORPHWHU ZHLW JHJDQJHQ 'LH /XIW ZDU IULVFK 'HU KRKH 6DXHUVWRIIJHKDOW YHUOLHK LKP ]XVlW]OLFKH (QHUJLH 9RQ VHLQHP 9HUIROJHU KDWWH HU QLFKWV PHKU JHK|UW 'HU +|KOHQHLQJDQJ EHVFKULHE HLQH VFKDUIH %LHJXQJ QDFK OLQNV 6RZLH)HOOPHUGDV*HOlQGHLQ(ULQQHUXQJKDWWHEHZHJWHHUVLFKGDPLWZLHGHUDXI GHQ )HOVKDQJ ]X 'HU $XVJDQJ NRQQWH QLFKW PHKU ZHLW VHLQ 'LH /XIW ZXUGH DOOPlKOLFKZlUPHU (UKDWWHGLH%LHJXQJKLQWHUVLFKGDHPSILQJHUHLQHQ6FKZDOOYRQ0HQWDOLPSXOVHQ GLH YRQ K|FKVWHU (UUHJXQJ HUIOOW ZDUHQ (U XQWHUVFKLHG ]ZHL 7\SHQ YRQ 6LJQDOHQ GHU HLQH 7\SXV EUDFKWH (QWVHW]HQ XQG 7RGHVDQJVW ]XP $XVGUXFN GHU DQGHUH ZDU YRQ-DJGILHEHUXQG0RUGOXVWEHVHHOW.HLQ=ZHLIHO,UJHQGZRLQGHU1lKHEHIDQGVLFK HLQGHQNHQGHV:HVHQLQ7RGHVJHIDKUXQGGHUGHUGLH*HIDKUYHUXUVDFKWHGDFKWHLQ lKQOLFKHQ0XVWHUQZLHGHUYRQEOLQGHP+DHUIOOWH9HUIROJHUGHQ)HOOPHUYRUHLQHU JXWHQKDOEHQ6WXQGHDEJHVFKWWHOWKDWWH 0LWHLQHP]RUQLJHQ.QXUUHQYHUILHOHULQ/DXIVFKULWW ³:HQQ GX GLH 6FKHLQZHUIHU DXVVFKDOWHVW VDJWH GHU 6\QWURQ ³VLHKVW GX GDV /LFKW YRUDXV 'LH EHLGHQ /DPSHQ HUORVFKHQ 'LH 'XQNHOKHLW NDP )HOOPHU LP HUVWHQ $XJHQEOLFN XQGXUFKGULQJOLFK YRU (U YHUODQJVDPWH GHQ 6FKULWW XP QLFKW JHJHQ GLH :DQG GHV +|KOHQJDQJV]XSUDOOHQ'DQQDOVGLH$XJHQVLFKDQGLH)LQVWHUQLVJHZ|KQWHQVDK
HUZHLWYRUVLFKHLQHQPDWWHQ/LFKWNOHFNV(UJHQJWHLKP]XU2ULHQWLHUXQJ(UOHJWH HLQHQ UDVFKHQ 7URWW YRU 'LH 0HQWDOLPSXOVH VWU|PWHQ QRFK LPPHU DXI LKQ HLQ 'HU bQJVWOLFKHEHIDQGVLFKLP=XVWDQGWLHIVWHU9HU]ZHLIOXQJ,QGLH(PRWLRQHQGHV-lJHUV PLVFKWHVLFKGDV(PSILQGHQGHV7ULXPSKV 'HU *DQJ ZHLWHWH VLFK 9RU )HOOPHU ODJ GLH VRQQHQEHVFKLHQHQH (EHQH RGHU EHVVHU JHVDJW VLH ODJ XQWHU LKP 'HQQ GHU +|KOHQVWROOHQ PQGHWH DXI HLQHQ 6|OOHU DXI HLQHNOHLQHKDOEUXQGH)HOVSODWWIRUPDQGHUHQ5DQG6WHLQVWFNH]XHLQHUQLHGULJHQ %UVWXQJ DXIJHVFKWWHW ODJHQ (U EHXJWH VLFK QDFK YRUQH VR ZHLW HV JLQJ 'DV *UDVODQGODJIQI]LJ0HWHUXQWHULKP'LFKWHV*HEVFKZXFKVDP)XGHU)HOVZDQG +LHU XQG GD HUKRE VLFK GHU NUlIWLJH 6WUXQN HLQHV%DXPHVNDKOELV]XHLQHU+|KH YRQ0HWHUQXQGGDQQ]XHLQHUIODFKHQ.URQHDXVIlFKHUQGHLQHU.LHIHUGHU Q|UGOLFKHQ%UHLWHQ7HUUDVQLFKWXQlKQOLFK (LQNOHLQHU%OLW]]XFNWHDXIXQGOHQNWH)HOOPHUV$XIPHUNVDPNHLW DXI HLQH /LFKWXQJ LQPLWWHQGHV%XVFKODQGV$XVGHP6WDPPHLQHVGHUNLHIHUlKQOLFKHQ%lXPHVFKOXJ HLQH )ODPPH XQG EHZHJWH VLFK JLHULJ LQ 5LFKWXQJ GHU .URQH $XI GHU /LFKWXQJ VWDQG HLQ GUHLEHLQLJHV :HVHQ ,Q ]ZHLHQ VHLQHU GUHL $UPH KLHOW HV HLQHQ ODQJOlXILJHQ NOHLQNDOLEULJHQ 7KHUPREODVWHU HLQH :DIIH ZLH VLH KlXILJ EHL =LHOVFKLHZHWWEHZHUEHQ YHUZHQGHW ZXUGH 'HU /DXI GHV %ODVWHUV ZDU VFKXEHUHLW QDFK REHQ JHULFKWHW $EHU HV ILHO NHLQ ZHLWHUHU 6FKX 'HU -lJHU KDWWH VHLQ 2SIHU JHVWHOOW XQG GDV 2SIHU VD KRIIQXQJVORV JHIDQJHQ LQ GHU .URQH GHV EUHQQHQGHQ %DXPHV =XHUVW NRQQWH )HOOPHU QLFKW HUNHQQHQ ZRUDXI GHU 'UHLEHLQLJH JHVFKRVVHQ KDWWH 'DQQ VDK HU GDV ZLQ]LJH GXQNOH 3HO]NQlXHO GDV VLFK DXI GHQ K|FKVWHQ $VW GHV %DXPHV JHIOFKWHW KDWWH ,PPHU K|KHU OHFNWHQ GLH )ODPPHQ 'DV KDU]JHWUlQNWH +RO] NQLVWHUWH )XQNHQ VSUKWHQ *UDXHU 4XDOP VWLHJ LQ GLH +|KH XQG KOOWH GLH .URQHHLQ .HLQ$XVZHJPHKUK|UWHGHU0XWDQW'DVLVWGDV(QGH:HQQLFKVSULQJHHUZLVFKW HUPLFKLP6SUXQJ:HQQHUPLFKQLFKWHUZLVFKWEUHFKHLFKPLUEHLP$XISUDOOGHQ +DOV9LHOOHLFKWKDEHLFK*OFNXQGHUVWLFNHLP4XDOPEHYRULFK 'LH *HGDQNHQ ZXUGHQ XQYHUVWlQGOLFK 'HU 9HUVWDQG GHV NOHLQHQ 3HO]ZHVHQV YHUZLUUWH VLFK %LWWHUHU =RUQ HUIOOWH GHQ 0XWDQWHQ 'HU =ZHUJ LQ GHU .URQH GHV EUHQQHQGHQ %DXPHV ZDU HLQ 8OXSKR ZHQQ LKQ QLFKW DOOHV WlXVFKWH 'LH 8OXSKR ZDUHQQLFKWKXPDQRLGH*HVFK|SIHGLHPDQEHUDOOLP%HUHLFKGHU=Z|OI*DOD[LHQ DQWUDI (V JLQJ GLH 6DJH GD QLHPDQG JHQDX ZLVVH ZLH HLQ 8OXSKR N|USHUOLFK EHVFKDIIHQ VHL ,KU GLFKWHU 3HO] EHGHFNWH DOOHV ELV DXI GDV *HVLFKW GDV YRQ HLQHU UVVHOlKQOLFKHQ1DVHQXQG0XQGSDUWLHXQGYRQ]ZHLNOHLQHQEHZHJOLFKHQ$XJHQ EHKHUUVFKWZXUGH8QWHUGHQ*lQJHUQGHV1HW]HVJDEHVPHKUHUH8OXSKR'DV9RON GHU=ZHUJHZDUDOVVHOEVWEHZXWXQGHKUOLFKZHQQDXFKPDQFKPDO]XUhEHUWUHLEXQJ QHLJHQGEHNDQQW
³*UDYR3DNNQXUUWH)HOOPHU/OR\G (U YHNWRULHUWH GDV NQVWOLFKH 6FKZHUHIHOG VFKUlJ QDFK REHQ XQG JOLWW EHU GLH %UVWXQJKLQZHJ(UVFKRDXIGHQEUHQQHQGHQ%DXP]XDEHUEHYRUHUQDKHJHQXJ NDPXPGHP8OXSKRKHOIHQ]XN|QQHQYROO]RJVLFKGHVVHQ6FKLFNVDO )HOOPHU/OR\GK|UWHGHQVFKULOOHQ7RGHVVFKUHLGHVNOHLQHQ3HO]JHVFK|SIV(UK|UWH LKQ DXI DNXVWLVFKHP :HJH XQG LP JOHLFKHQ $XJHQEOLFN HPSIDQG HU HLQHQ VWHFKHQGHQ 6FKPHU] LP +LQWHUJUXQG VHLQHV %HZXWVHLQV 'DQQ ZDU 6WLOOH 'HU 8OXSKRKDWWHVHLQ/HEHQDXVJHKDXFKW %HEHQGYRU=RUQNXUYWHGHU0XWDQWLQGLH7LHIH(UVFKRDXIGLH/LFKWXQJ]X'HU 'UHLEHLQLJH VDK LKQ NRPPHQ (LQH 6HNXQGHODQJVFKLHQHU]XEHUOHJHQREHVVLFK ORKQH VLFK JHJHQ GHQ $QJUHLIHU ]X ZHKUHQ 'LH 6DFKH PRFKWH LKP DOV QLFKW EHVRQGHUVDXVVLFKWVUHLFKHUVFKHLQHQ]XPDO)HOOPHU/OR\GLQ]ZLVFKHQGHQ3DUDO\VDWRU LQ $QVFKODJ JHEUDFKW KDWWH (U ZDUI GLH ODQJOl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|OOHUKLQDXI DXIGHPHUQRFKYRU]ZHL0LQXWHQJHVWDQGHQKDWWH'HQ%DXPDXIGHPGHU8OXSKR 6FKXW]JHVXFKWKDWWHZDULQ]ZLVFKHQYRP)HXHUYHU]HKUW )HOOPHUZDUVRYHUGURVVHQZLHQRFKVHOWHQ]XYRU(UKDWWHQDFK,QIRUPDWLRQHQEHU *LOJLGV 9HUEOHLE JHVXFKW XQG ZDU LQ HLQH :HOW JHUDWHQ GLH DOOHLQ DXIJUXQG HLQHU +DOOX]LQDWLRQ H[LVWLHUWH (U ZDU YRQ HLQHP JHKlVVLJHQ )UHPGHQ JHMDJW ZRUGHQ XQG KlWWH GDEHL XP HLQ +DDU )HGHUQ ODVVHQ PVVHQ (U ZDU =HXJH JHZHVHQ ZLH HLQ PRUGOVWHUQHVGUHLEHLQLJHV:HVHQHLQHQKLOIORVHQ8OXSKRLQGHQ7RGMDJWHXQGKDWWH QLFKWHLQJUHLIHQN|QQHQ ³:DVIUHLQHKlOLFKHVLQQORVH:HOWVDJWHHUPLW,QEUXQVW ³0DQP|FKWHYHU]ZHLIHOQQLFKWZDKU"DQWZRUWHWHHVDXVGHP*HEVFK )HOOPHU/OR\GIXKUKHUXP'DV*HEVFKGDVGLH/LFKWXQJEHJUHQ]WHZDUDQHLQHU LQ5LFKWXQJGHU%HUJZDQGOLHJHQGHQ6WHOOHLQ%HZHJXQJJHUDWHQ(LQPHUNZUGLJ DQPXWHQGHV :HVHQ NDP GRUW ]XP 9RUVFKHLQ (V ZDU HWZD DQGHUWKDOE 0HWHU JUR 6HLQ/HLEKDWWHGLH)RUPHLQHU+DOENXJHO(EHQIDOOVKDOENXJHOLJZDUGHU6FKlGHO GHULQHLQHQYLHOIDFKJHIDOWHWHQORFNHUHQ+DXWZXOVWJHEHWWHWZDU'HU)UHPGHKDWWH
GUHL $XJHQ HLQHV GDYRQ LQ GHU *HJHQG GHV .RSIHV GLH LQ $QDORJLH PLW GHP .|USHUEDXGHV0HQVFKHQ6WLUQKlWWHJHQDQQWZHUGHQN|QQHQXQG]ZHLZHLWHUHMH HLQH KDOEH +DQGEUHLW OLQNV XQG UHFKWV GDUXQWHU $QVWHOOH HLQHU 1DVH EHVD GDV IUHPGH *HVFK|SI HLQH PLW ]DKOUHLFKHQ /DPHOOHQ YHUVHKHQH gIIQXQJ LQ GHU 0LWWH GHV *HVLFKWV 'HU 0XQG ZDU EUHLW XQG GQQOLSSLJ XQG VD QDKH GHP XQWHUHQ 5DQG GHV KDOENXJHOLJHQ 6FKlGHOV 0DQ NRQQWH QLFKW RKQH ZHLWHUHV VHKHQ ZLH GHU )UHPGH VLFK EHZHJWH )HOOPHU /OR\G ZXWH LQGHV VFKOLHOLFK ZDU HV QLFKW GDV HUVWHPDOGDHUHLQHQ'XDUD]X*HVLFKWEHNDPGDHUYLHUNXU]H%HLQHEHVDGLH DXVGHU%DVLVGHV/HLEHVZXFKVHQ'HU/HLEZDUVRZHLWGDGLH%HLQFKHQQXUVHOWHQ ]XP9RUVFKHLQNDPHQ $UPHRGHUVRQVWLJH([WUHPLWlWHQVFKLHQGHU)UHPGHQLFKW]XKDEHQ(UEHVDGLH )lKLJNHLW VLH QDFK %HOLHEHQ DXV GHU 6XEVWDQ] VHLQHV .|USHUV ]X ELOGHQ (U WUXJ HLQHQ EXQWHQ 5RFN GHU DP HKHVWHQ HLQHU .LWWHOVFKU]H lKQOLFK VDK 'HU 5RFN UHLFKWH IDVW ELV ]XP %RGHQ KLQDE XQG ZDU EHU GHQ 6FKXOWHUQ PLW ]ZHL EUHLWHQ 7UlJHUQ EHIHVWLJW LQ GLH ]DKOUHLFKH 7DVFKHQ HLQJHDUEHLWHW ZDUHQ 'HU 6WRII GHV EXQWHQ.OHLGXQJVVWFNVHQWKLHOWPHKUHUH/|FKHU'XUFKGLHVHZUGHQGLH$UPHGHV 'XDUD]XP9RUVFKHLQNRPPHQZHQQHUVLHEUDXFKWH 9HUZLUUWHULQQHUWH)HOOPHUVLFKGDUDQGDHUVHLQHQ6WRVHXI]HUDXIWHUUDQLVFKJHWDQ KDWWHZLHHVVHLQH$UWZDUZHQQHUDOOHLQHZDU ³'XELVWN|USHUOLFKZLHLFKVDJWHHU³$OOHVDQGHUHLVWN|USHUORVHLQ3URGXNWGHU SVLRQLVFKHQ6\QWKHVH'LFKKDW.URYRUQLFKWJHVFKLFNW:LHNRPPVWGXKLHUKHU" (VVW|UWH)HOOPHUQLFKWGDHUNHLQH$QWZRUWDXIVHLKH)UDJHHUKLHOW(UNDQQWHGLH $UW GHU 'XDUD %HYRU VLH DQWZRUWHWHQ ZROOWHQ VLH VLFK YHUJHZLVVHUQ GD LKUH $QWZRUWDXFKYHUVWDQGHQZUGH6LHGDFKWHQDXI8PZHJHQZHQLJVWHQVHUVFKLHQHV GHPXQJHGXOGLJHQ%HREDFKWHUVR ³'LH6LUHQHKDWPLFK]XQDUUHQYHUVXFKWVDJWH)HOOPHU³6LHQDUUWHPLFKPLWHLQHP 7UXJELOG,FKELQDXIGHU6XFKHQDFKGHP7UXJELOGGHQQHVPVVHQ,QIRUPDWLRQHQ PLWLKPYHUEXQGHQVHLQGLHPLUGHQ:HJ]XP2ULJLQDOZHLVHQ ³+|UH )HOOPHU GX EUDXFKVW PLU JHJHQEHU GHLQH :RUWH QLFKW LP .UHLV KHUXP ]X WUDJHQWDGHOWH2ULVKD³:HQVWHOOWHGDV7UXJELOGGDU":HQVXFKVWGX" ³*LOJLGGLH)UVWLQGHU.LRMD 'HU'XDUDULGLH$XJHQZHLWDXI ³*LOJLGVWLHHUKHUYRU³:DVLVWPLWLKU":DUXPVXFKVWGXVLH" ³.URYRUKlOWVLHJHIDQJHQ(UZLOOGLH.LRMDHUSUHVVHQ 0LWDXIJHUHJWHQWULSSHOQGHQ6FKULWWHQJLQJ2ULVKDDP5DQGGHU/LFKWXQJKLQXQG KHU )HOOPHUV 0LWWHLOXQJ KDWWH LKQ RIIHQVLFKWOLFK LQ (UUHJXQJ YHUVHW]W (U EOLHE VFKOLHOLFKYRUGHP0XWDQWHQVWHKHQ ³'XELVWGHLQHU6DFKHJDQ]VLFKHU"ZROOWHHUZLVVHQ ³,FKKDEHLKUHQ+LOIHUXIJHK|UW ³,FKDKQWHHVPXUPHOWHGHU'XDUD³(VZDUGHUHLQ]LJH:HJGHU LKP QRFK EOLHE
'LH .LRMD ZROOWHQ LKP QLFKW GLHQHQ (U EUDXFKW VLH DEHU 6LH VLQG GLH EHVWHQ 3VLRQLNHULQJDQ]'KDWDEDDUDXHULKPVHOEVWQDWUOLFK(UPXWHVLH]ZLQJHQ(U QDKPLKQHQGLH)UVWLQ(VZDUPHKUHLQ6HOEVWJHVSUlFKJHZHVHQ-HW]WVDKHUDXI XQGPXVWHUWH)HOOPHU ³'XZLOOVW*LOJLGKHOIHQ"IUDJWHHU ³,FKZLOOVLHEHIUHLHQ ³.DQQVWGXGDV" ³,FKKRIIHHVDQWZRUWHWH)HOOPHU ³+RIIQXQJLVWJXW:LVVHQLVWEHVVHUVDJWH2ULVKD³.RPPPLWLFKZHUGHGLUHWZDV ]HLJHQ 'HU $XVJDQJ DXV GHU SVLRQLVFKHQ :HOW ZDU QLFKW ZHQLJHU YHUEOIIHQG DOV GHU (LQJDQJ'HU'XDUDIKUWH)HOOPHU/OR\G]XP)XGHU)HOVZDQG+RFKEHULKQHQ WUDW GHU 6|OOHU DXV GHP *HVWHLQ YRQ GHP DXV )HOOPHU GHP 8OXSKR KDWWH ]X +LOIH NRPPHQZROOHQ'LH:DQGZLHVDQGLHVHU6WHOOH]DKOUHLFKHQLVFKHQlKQOLFKH.OIWH DXI,QHLQHQGLHVHU(LQVFKQLWWHWUDW2ULVKDKLQHLQ'HU0XWDQWIROJWHLKPXQGVDK ]X VHLQHU hEHUUDVFKXQJ GD GLH 1LVFKH GHQ $QIDQJ HLQHV QDFK REHQ RIIHQHQ *DQJHV ELOGHWH GHU VLFK HLQ SDDU 0HWHU ZHLW SDUDOOHO ]XU )HOVZDQG GDKLQ]RJ (U HQGHWHYRUHLQHU3ODWWHDXVURKHPXQEHKDXHQHP6WHLQ 2ULVKD]|JHUWHHLQH6HNXQGH'DQQZDQGWHHUVLFKXPXQGVDJWH ³'XELVWKHUHLQJHNRPPHQDOVRZLUGGLFKGLHVKLHUQLFKWEHUUDVFKHQ (UEHZHJWHVLFKYRUZlUWVDXIGLH6WHLQSODWWH]XXQGZDUSO|W]OLFKYHUVFKZXQGHQ )HOOPHUVFKULWWKLQWHULKPGUHLQ'LH0XVNHOQVSDQQWHQVLFKXQZLOONUOLFKDOVGHU .|USHUVLFKLQVWLQNWLYDXIGHQ=XVDPPHQSUDOOPLWGHP)HOVHQYRUEHUHLWHWH$EHUGD ZDU NHLQ )HOVHQ )HOOPHU WDW QRFK HLQHQ 6FKULWW XQG VWDQG LQ HLQHP PlLJ KHOO HUOHXFKWHWHQ .RUULGRU GHVVHQ 'HFNH :lQGH XQG %RGHQ DXV JUDXHP 0HWDOO EHVWDQGHQ (U ZDQGWH VLFK XP 'RUW ZRKHU HU JHNRPPHQ ]X VHLQ JODXEWH ]RJ GHU .RUULGRUVLFKZHLWHU)HOOPHUVDKHLQHVFKLHUHQGORVH.HWWHYRQ/HXFKWN|USHUQGLH GHQ9HUODXIGHV*DQJHVPDUNLHUWH'DVSVLRQLVFKH/DQGZDUYHUVFKZXQGHQ 2ULVKD ZDU LQ]ZLVFKHQ ZHLWHUJHJDQJHQ RKQH VLFK XP]XVHKHQ )HOOPHU HLOWH KLQWHU LKP KHU 'HU .RUULGRU PQGHWH LQ HLQH UHFKWHFNLJH.DPPHU'LH%HOHXFKWXQJZDU KLHU]XQlFKVWHEHQVRGUIWLJJHZHVHQZLHGUDXHQLP*DQJ$EHUDOVGHU'XDUDGLH 6FKZHOOHEHUVFKULWWIODPPWHVLHDXIXQGOLH]ZHL5HLKHQNLVWHQI|UPLJHU%HKlOWHU HUNHQQHQGLHHQWODQJGHUEHLGHQ6HLWHQZlQGHDXIJHVWHOOWZDUHQ'LH.LVWHQUXKWHQ DXI HLQHP QLHGULJHQ *HVWHOO GDV VLFK YRQ GHU :DQG ]XP %RGHQ KLQ QHLJWH 'LH %HKlOWHU EHIDQGHQ VLFK GDKHU LQ OHLFKWHU 6FKUlJODJH 6LH HULQQHUWHQ )HOOPHU /OR\G DQ6lUJH ³6LHKVLHGLUDQIRUGHUWH2ULVKDLKQDXI(UKDWWH]ZHL3VHXGRDUPHDXVJHELOGHWGLH LQGUHLILQJULJHQ*UHLIKlQGHQHQGHWHQ0LWGHQ$UPHQJHVWLNXOLHUWHHULQ5LFKWXQJGHU .LVWHQ )HOOPHUZDQGWHVLFK]XUOLQNHQ:DQGKLQ(UHUVFKUDNDOVHUEHPHUNWHZLHWUHIIHQG
VHLQ9HUJOHLFKJHZHVHQZDU'LH%HKlOWHUZDUHQPLWWUDQVSDUHQWHQ3ODWWHQDEJHGHFNW 'XUFK GLH3ODWWHQKLQGXUFKVDK)HOOPHU/OR\GGLH.|USHUGUHLEHLQLJHUGUHLDUPLJHU :HVHQ YRQ GXQNOHU +DXWIDUEH ,Q MHGHU .LVWH ODJ HLQ .|USHU 'LH .|SIH GHU 'UHLEHLQLJHQEHVWDQGHQDXVHLQHU$QVDPPOXQJEODWWlKQOLFKHU+DXWODSSHQGXUFKGLH KLHU XQG GD GLH JHOEOLFKZHLH DPRUSKH 0DVVH GHV .HUQVFKlGHOV ]X VHKHQ ZDU )HOOPHUKDWWHVHLWGHPHUGHQ'UHLEHLQLJHQDXIGHU/LFKWXQJEHREDFKWHWKDWWHJHDKQW GDHV:HVHQDXVGHP9RONGHU4XOLPDQZDUHQPLWGHQHQHU]XWXQKDWWH+LHUIDQG HUGHQ%HZHLV %HZHLV":HOFKHQ%HZHLV"'LHVLHEHQ4XOLPDQGLHKLHUODJHQZDUHQWRW:DVKDWWHQ VLHPLWGHQ.UHDWXUHQ]XWXQGLHGDVSVLRQLVFKH/DQGEHY|ONHUWHQ ³4XOLPDQVDJWHHUQXUGDVHLQH:RUW(UZDUYHUZLUUW ³6LHEHQ LQVJHVDPW EHVWlWLJWH 2ULVKD ³'UHL ZHLEOLFKH :HVHQ GUHL PlQQOLFKH XQG HLQ 1HXWHU 6LH NRPPHQ DXV GHU *DOD[LV8UXPEDU'HU(ZLJH.ULHJHU6KDUJNGHU GRUWKHUUVFKWKDWVLH.URYRU]XP*HVFKHQNJHPDFKW ³:DVKDEHQVLHEHJDQQ)HOOPHU$EHU2ULVKDXQWHUEUDFKLKQ ³6LHKGLUHUVWGLHDQGHUHQ%HKlOWHUDQ )HOOPHUZDQGWHVLFKGHUJHJHQEHUOLHJHQGHQ:DQG]X(UEHPHUNWHHUVWMHW]WGD GLH .LVWHQ GRUW DQGHUV JHIRUPW ZDUHQ DOV MHQH LQ GHQHQ GLH 4XOLPDQ DXIJHEDKUW ODJHQ6LHZDUHQSOXPSHU$XHUGHPJDEHVYRQLKUHU6RUWHQXUIQI(VILHOLKPMHW]W DXFK DXI GD GLH %HKlOWHU PLW WHFKQLVFKHQ =XVlW]HQ DXVJHVWDWWHW ZDUHQ 'LH =XVlW]H EHZLUNWHQ RIIHQEDU GD LP ,QQHUQ GHU .LVWHQ EHVWLPPWH %HGLQJXQJHQ LQ EH]XJDXI7HPSHUDWXU'UXFNXQG/XIW]XVDPPHQVHW]XQJKHUUVFKWHQ'LH*HVFK|SIH LQGHQ%HKlOWHUQZDUHQZRP|JOLFKJDUQLFKWVRWRWZLHHVDXIGHQHUVWHQ%OLFNGHQ $QVFKHLQKDWWH :DVHUDQGHUUHFKWHQ6HLWHQZDQG]XVHKHQEHNDPEHGHXWHWHIU)HOOPHU/OR\GNHLQH hEHUUDVFKXQJPHKU,QMHGHP%HKlOWHUEHIDQGHQVLFK]HKQ8OXSKRNOHLQHVFKZDU]H 3HO]NQlXHO DXV GHUHQ GLFKWHU %HKDDUXQJ QXU GLH URVDIDUEHQHQ *HVLFKWHU KHUYRUOXJWHQ GHQHQ GLH 5VVHO VRYLHO bKQOLFKNHLW PLW WHUUDQLVFKHQ 0LQLDWXUVFKZHLQHQYHUOLHKHQ'LH$XJHQZDUHQJHVFKORVVHQ'LH8OXSKRVDKHQDXV DOVVFKOLHIHQVLH ³,FK ZHL QLFKW ZRKHU .URYRU VLH KDW VDJWH GHU 'XDUD ³$EHU 8OXSKR VLQG ]XWUDXOLFK(VZLUGGHQ$JHQWHQGHV.ULHJHUVQLFKWVFKZHUJHIDOOHQVHLQVLHLQHLQH )DOOH]XORFNHQ9HUVWHKVWGXMHW]W" ³1RFK ODQJH QLFKW DOOHV DQWZRUWHWH )HOOPHU ³'LH :HVHQ GHQHQ LFK GUDXHQ LP SVLRQLVFKHQ/DQGEHJHJQHWELQVLQGGLH0DQLIHVWDWLRQHQGHU%HZXWVHLQHGHUHUGLH KLHULQGHQ%HKlOWHUQOLHJHQ" ³6RLVWHVEHVWlWLJWH2ULVKD³/DPLFKGLUDXIGLH6SXUKHOIHQ'HUTXOLPDQLVFKH 1HXWHU LVW HLQ SULPLWLYHV IDVW XQLQWHOOLJHQWHV *HVFK|SI 1LFKW QXU GLHVHU KLHU 'DV JLOWIUDOOHTXOLPDQLVFKHQ1HXWUL(UGHQNWQXUDQ(VVHQXQG7ULQNHQXQGGDUDQZLH HU P|JOLFKVW YLHO .HLPVXEVWDQ] ]ZLVFKHQ PlQQOLFKHQ XQG ZHLEOLFKHQ 4XOLPDQ YHUPLWWHOQNDQQ'LH4XOLPDQVLQGGUHLJHVFKOHFKWOLFKGDZXWHVWGXVLFKHU
:HQQHVXPV(VVHQJHKWNHQQWGHU1HXWHUNHLQHQJU|HUHQ/HFNHUELVVHQDOVHLQHQ NUlIWLJHQ+DSSHQ8OXSKR'HU1HXWHUVWHOOWDOVRGHQ8OXSKRQDFK)QI]LJ8OXSKR VLQG HV LQVJHVDPW GLH GDV SVLRQLVFKH /DQG EHY|ONHUQ 'LH 8OXSKR VLQG VFKODX XQG HUILQGHULVFK6LHZROOHQQLFKWYHUVSHLVWZHUGHQDOVRMDJHQVLHLKUHUVHLWVGHQ1HXWHU 1LFKWVHOWHQIlQJWHUVLFKLQLKUHU)DOOHXQGKDWIUVHLQHQEDUEDULVFKHQ$SSHWLWPLW GHP /HEHQ ]X EHQ 'DV ZLHGHUXP HU]UQW GLH PlQQOLFKHQ XQG ZHLEOLFKHQ 4XOLPDQGHQQRKQHGHQ1HXWHUN|QQHQVLHLKUHP6H[XDOWULHEQLFKWQDFKJHKHQ6LH PDFKHQDOVRHEHQIDOOVDXIGLH8OXSKR-DJG'LH:DIIHQGHUHQVLHVLFKGDEHLEHGLHQHQ DXFK GDV )DKU]HXJ GDV GX JHVHKHQ KDVW ZHUGHQ LKQHQ YRQ GHU 3VLRQLN ]XU 9HUIJXQJJHVWHOOW$XFKGLH8OXSKRHUKDOWHQDXIGLHVHP:HJH*HUlWHXQG:DIIHQ (VLVWDOOHVHLQEHUDXVZLUNVDPHUWHXIOLVFKHU'RSSHONUHLVPLWGHQ8OXSKRLQGHU 0LWWH XQG GHP 1HXWHU DXI GHU HLQHQ GHQ EULJHQ 4XOLPDQ DXI GHU DQGHUHQ 6HLWH 9HUVWHKVWGXQXQ" ³1HLQVDJWH)HOOPHU ³'LHVHV *HELOGH LVW HLQH &KDU\EGLVFKH 6LUHQH 2ULVKD YHUORU GLH *HGXOG QLFKW ³:HLWGXZHOFKHP=ZHFNVLHGLHQW" ³6LH HU]HXJW SVLRQLVFKH /RFNUXIH GLH LQ HUVWHU /LQLH *RULPV GDV KHLW *lQJHU GHV 1HW]HVLQ.URYRUV)DOOHQORFNHQVROO ³5LFKWLJ /RFNUXIH GLH VLFK DQK|UHQ DOV VWDPPWHQ VLH DXV GHP %HZXWVHLQ HLQHV GHQNHQGHQ IKOHQGHQ :HVHQV ,Q :LUNOLFKNHLW DEHU VLQG VLH V\QWKHWLVFK 0DQ NDQQ DXFK(PRWLRQHQELV]XHLQHPJHZLVVHQ*UDGQDFKDKPHQ$EHUIUGHQGHUJHQDX KLQK|UW ZLUNHQ VLH IODFK XQG XQHFKW 'LH *RULPV EHVLW]HQ HLQ JHUWWHOW 0D DQ ,QWHOOLJHQ]:HQQ.URYRUVLHPLWV\QWKHWLVFKHU(PRWLRQHQORFNHQZROOWHKlWWHHUVLFK GLHJDQ]H0KHXPVRQVWJHPDFKW )HOOPHU/OR\GEHJDQQ]XEHJUHLIHQ ³$OVRVFKDIIWHUVLFKHFKWHRUJDQLVFKH(PRWLRQHQVWDXQWHHU ³*HQDXVRVDJWH2ULVKD³(UEHVFKDIIWVLFKVLHEHQ4XOLPDQIQI]LJ8OXSKRXQGOlW VLH DXIHLQDQGHU ORV (U OHJW LKUH .|USHL DXI (LV XQG VWDWWHW LKUH %HZXWVHLQH PLW SVHXGRPDWHULHOOHU 0DQLIHVWDWLRQHQ DXV 6LH HPSILQGHQ 6FKPHU] XQG =RUQ $QJVW XQG 8QVLFKHUKHLW 9HU]ZHLIOXQJ XQG +RIIQXQJVORVLJNHLW 0DQFKPDO JLEW HV VRJDU )UHXGH ZHQQ HV GHQ 8OXSKR ZLHGHU HLQPDOJHOXQJHQ LVW GHQ 1HXWHU XQVFKlGOLFK ]X PDFKHQ RGHU %HJHLVWHUXQJ GLH %HJHLVWHUXQJ GHU -DJG QlPOLFK ZHQQ HLQ 4XOLPDQ HLQH +RUGH YRQ 8OXSKR JHVWHOOW KDW $EHU )UHXGH XQG %HJHLVWHUXQJ VLQG VHOWHQ 'XUFK 0DQLSXOLHUXQJ GHU 8PZHOW ODVVHQ VLFK QHJDWLYH (PRWLRQHQ UHFKW OHLFKWHU]HXJHQSRVLWLYHGDJHJHQQXUVFKZHU 2ULVKDZHGHOWHPLWGHQEHLGHQ3VHXGRDUPHQ(UKDWWHVLFKLQGLH3KLORVRSKLHYHULUUW DEHUMHW]WNHKUWHHU]XPHLJHQWOLFKHQ7KHPD]XUFN ³.URYRUKDWDOVRHLQ6]HQDULRJHVFKDIIHQYRQGHP6WLPXOLDXVJHKHQGLHXQWHUGHQ %HZRKQHUQ GHV SVLRQLVFKHQ /DQGHV DOOHUOHL (PRWLRQHQ HU]HXJHQ 'LH SVLRQLVFKH (PLVVLRQ GLH PLW GHP $XVGUXFN HLQHU (PRWLRQ HLQKHUJHKW ZLUG LQ HLQHQ 6SHLFKHU
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|WHQODVVHQPXWHQXUXPGLH&KDU\EGLVFKH6LUHQHPLWHPRWLRQHOOPRGXOLHUWHU3VL (QHUJLH]XYHUVRUJHQ" ³9RQ =HLW ]X =HLW IXKU GHU 'XDUD IRUW ³NHKUHQ GLH %HZXWVHLQH LQ LKUH .|USHU ]XUFN6LHEUDXFKHQGLHVH3DXVHXPGHQ%H]XJ]XUPDWHULHOOHQ.RPSRQHQWHLKUHV 6HLQV QLFKW ]X YHUOLHUHQ 'HU $XIHQWKDOW LP .|USHU EHGHXWHW IU GDV %HZXWVHLQ (QWVSDQQXQJ XQG (UIULVFKXQJ 2KQH GLHVH 3DXVHQ KlWWHQ GLH 4XOLPDQ XQG GLH 8OXSKROlQJVWGHQ9HUVWDQGYHUORUHQXQGZlUHQGHU6LUHQH]XQLFKWVPHKUQW]H (LQH )UDJH EHVFKlIWLJWH )HOOPHU VHLW HWOLFKHQ 0LQXWHQ -HW]W NDP HU HQGOLFK GD]X VLHDXV]XVSUHFKHQ ³:HOFKH5ROOHVSLHOVWGXLQGLHVHPWHXIOLVFKHQ6FKHPD" ³'LH 5ROOH GHVVHQ GHP HV IU GHQ 5HVW VHLQHV /HEHQV QLFKW JHOLQJHQ ZLUG GLH 6FKDQGH]XEHUZLQGHQGLHHUDXIVLFKJHODGHQKDWDQWZRUWHWH2ULVKDGVWHU³,FK ELQGHU$XIVHKHU (UEHPHUNWH)HOOPHUVYHUVWlQGQLVORVHQ%OLFNXQGIXKUIRUW ³9RU ODQJHU =HLW ILHO LFK GHP (ZLJHQ .ULHJHU .URYRU LQ GLH +lQGH ,FK KDWWH YHUVXFKW PHLQHP ,GRO 2EHDK QDFK]XHLIHUQ 8QJOFNOLFKHUZHLVH EHVD LFK ZHGHU 2EHDKV,QWHOOLJHQ]QRFKVHLQH(QWVFKORVVHQKHLW.URYRUIDWHPLFKEHYRULFKLKP JU|HUHQ 6FKDGHQ KDWWH ]XIJHQ N|QQHQ (U YHUEDQQWH PLFK LQV ,QQHUH GHU &KDU\EGLVFKHQ6LUHQHLP6HNWRU3DQJNDK 'LH6LUHQHDUEHLWHWDOV$XWRPDW:DQQLPPHU.URYRURGHUHLQHUVHLQHU8QWHUOLQJH ZQVFKHQGDHLQ/RFNUXIDXVJHVWUDKOWZLUGVHQGHQVLHHLQHQWVSUHFKHQGHV6LJQDO XQG GLH 6LUHQH WULWW LQ 7lWLJNHLW 'HU $XIVHKHU EHVFKlIWLJW VLFK LQ HUVWHU /LQLH PLW GHQ RUJDQLVFKHQ :HVHQ GHUHQ .|USHU KLHU OLHJHQ XQG GHUHQ %HZXWVHLQH GDV SVLRQLVFKH /DQG EHY|ONHUQ (U DFKWHWH GDUDXI GD VLH LQ DQJHPHVVHQHQ $EVWlQGHQ 5XKHSDXVHQHLQOHJHQVRGDGLH%HZXWVHLQHVLFKUHJHQHULHUHQN|QQHQ(UNPPHUW VLFKGDUXPGDGLH.|USHUNHLQHQ6FKDGHQHUOHLGHQ8QGHUEHQDFKULFKWLJW.URYRU ZHQQHV=HLWLVWGLH:HVHQDXV]XZHFKVHOQ'HU$XIVHKHULVWHLQ%HVWUDIWHU(UOHLVWHW HLQH 6WUDIH DE IU HLQ 9HUJHKHQ GHVVHQ .URYRU LKQ EHVFKXOGLJW KDW :HQQ HU VHLQH 6DFKHJXWPDFKWKDWHU+RIIQXQJHLQHV7DJHVZLHGHUHQWODVVHQ]XZHUGHQ 9HUZXQGHUWIUDJWH)HOOPHU/OR\G ³:LHODQJHELVWGXVFKRQKLHU"8QGZDQQZLUG.URYRUGLFKHQWODVVHQ" (LQH GHU EHLGHQ *UHLIKlQGH NDP DXI )HOOPHU ]X XQG EHUKUWH LKQ DQ GHU 6HLWH GHV
+DOVHV(UVSUWHZLHVLFKHLQ)LQJHUVDQIWDXIGLH+DOVVFKODJDGHUSUHWH ³1HQQPLUGLHJU|WHJHOlXILJH=HLWHLQKHLWGLHPDQLQGHLQHP9RONEHQW]WVDJWH 2ULVKDQDFKHWZDHLQHUKDOEHQ0LQXWH³XQGVDJPLUZLHRIWGHLQ%OXWLQQHUKDOE GLHVHU=HLWVSDQQHSXOVLHUW )HOOPHUUHFKQHWHEHUVFKOlJLJXQGUDVFK ³(LQ-DKUVDJWHHU³9LHU]LJPLOOLRQHQPDO ³'DQQELQLFKVHLWYLHUWDXVHQG-DKUHQKLHUDQWZRUWHWHGHU'XDUD³XQGZHQQLFK *OFNKDEHZLUG.URYRUPLFKLQZHLWHUHQ]ZHLWDXVHQG-DKUHQHQWODVVHQ ³:DUXPHUGXOGHVWGXGDV"ZROOWH)HOOPHUZLVVHQ ³:HOFKDQGHUH:DKOKlWWHLFK"KLHOW2ULVKDLKPHQWJHJHQ³,FKN|QQWHPLFKZHLJHUQ 'DQQVWUEHLFKXQG.URYRUPWHVLFKHLQHQQHXHQ$XIVHKHUEHVFKDIIHQ,FKELQHLQ 'XDUD 'LH 'XDUD KlQJHQDP/HEHQ:DKUVFKHLQOLFKKDWHVGDPLW]XWXQGDVLHHLQ VWHUEHQGHV9RONVLQG$XHUGHPOHUQHLFKKLHU,FKVWXGLHUHGLH.XQVWGHU3VLRQLNZLH .URYRUVLHSUDNWL]LHUW,FKELQHLQJHWUHXHU$XIVHKHU,FKPDFKHPLFKVFKXOGLJLQGHP LFK.URYRUV$UEHLWYHUULFKWHXQGHV]XODVVHGDGHQNHQGH:HVHQJHTXlOWZHUGHQ'LH HLQ]LJH 0|JOLFKNHLW GLH 6FKPDFK ]X WLOJHQ EHVWHKW GDULQ GD LFK JHJHQ .URYRU NlPSIHQDFKGHPHUPLFKIUHLJHODVVHQKDW'HVZHJHQOHUQHLFK,FKZDUMXQJXQG XQHUIDKUHQ DOV LFK GDV HUVWHPDO JHJHQ GHQ (ZLJHQ .ULHJHU DQWUDW %HLP ]ZHLWHQ 9HUVXFKJHGHQNHLFK2EHDKV1DPHQ(KUH]XPDFKHQ :HOFKHLQ6FKLFNVDO)HOOPHUVSUWHREZRKOHUVHLQH*HGDQNHQ QLFKW OHVHQ NRQQWH GLH ELWWHUH 1LHGHUJHVFKODJHQKHLW GLH 2ULVKD EHVHHOWH (U KDWWH VLFK LP 6LQQ GHU (WKLNVHLQHV9RONHVVFKXOGLJJHPDFKWLQGHPHU.URYRUV'LHQVWHYHUULFKWHWH6HLQH (UO|VXQJVDKHUGDULQGDHUQDFKVHLQHU(QWODVVXQJ]XP.DPSIJHJHQGHQ(ZLJHQ .ULHJHU DQWUDW 6HLW YLHUWDXVHQG -DKUHQ OHLVWHWH HU )URQGLHQVW LQ GHU 6LUHQH =ZHLWDXVHQGZHLWHUH-DKUHZUGHHUJHGXOGLJZDUWHQ8QGZDVNDPGDQQ"(UKDWWH NDXP HLQH &KDQFH JHJHQ .URYRU ]X EHVWHKHQ )HOOPHU JODXEWH VHLQHQ 3ODQ ]X NHQQHQ 'HU 7RG LP .DPSI JHJHQ GHQ .ULHJHU GDV ZDU GLH 6KQH GLH LKP VHLQ *HZLVVHQDXIHUOHJWH ³,FK JODXEH HV LVW GLU HLQH JDQ] DQGHUH 5ROOH ]XJHGDFKW VDJWH )HOOPHU ³/D XQV VSlWHU GDUEHU VSUHFKHQ )UV HUVWH VXFKH LFK QDFK ,QIRUPDWLRQHQ EHU *LOJLG 'X KDVWGLFKDXVJHGUFNWDOVN|QQWHVWGXPLUKHOIHQ 2ULVKDKDWWHHLQHQVHLQHUEHLGHQ$UPHLQ]ZLVFKHQZLHGHU]XUFNJHELOGHW0LWGHP DQGHUHQZLQNWHHU ³.RPPVDJWHHU³,FKNHQQHGHQ2UWDQGHPGXVXFKHQPXW %HLP$QEOLFNGHU+DOOHYHUVFKOXJHVHLQHPGHQ$WHP,KUH$XVPDHZDUHQGHUDUW JHZDOWLJGDGDVSHUVSHNWLYLVFKH6HKYHUP|JHQ GHV $XJHV YHU]DJWH 8QVFKHLQEDUH 'LQJH LP +LQWHUJUXQG ZDUHQ LQ :LUNOLFKNHLW .RORVVH YRQ GHU (QWIHUQXQJ ]X VFKHLQEDUHU:LQ]LJNHLWUHGX]LHUW
9RQ XQPLYHUVWlQGOLFKHU WLWDQLVFKHU *U|H ZDUHQ MHGRFK GLH ODQJJHVWUHFNWHQ EHUGLPHQVLRQDOHQ 6FKOlXFKHQ lKQOLFKHQ *HELOGH GLH HLQHQ *URWHLO GHV +DOOHQUDXPV HUIOOWHQ 6LH EHVWDQGHQ DXV HLQHU OHXFKWHQG ZHLHQ 6XEVWDQ] 8QWHU GHP (LQIOX NQVWOLFKHU 6FKZHUHIHOGHU VFKZHEWHQ VLH VHQNUHFKW (LQLJH GDYRQ UHLFKWHQYRQGHU'HFNHGHU+DOOHELVKLQDE]XP%RGHQHLQH'LVWDQ]YRQJXWXQG JHUQ DFKWKXQGHUW 0HWHUQ $QGHUH ZDUHQ NU]HU XQG GQQHU DEHU LPPHU QRFK +XQGHUWH YRQ 0HWHUQ ODQJ XQG ZHQLJVWHQV IQI]HKQ 0HWHU LP 'XUFKPHVVHU 'LH 6FKOlXFKHZLHVHQLQUHJHOPlLJHQ$EVWlQGHQ6FKZHOOXQJHQDXI6LHVDKHQDXVDOV VHLHQVLHPLWJLJDQWLVFKHQ=ZLHEHOQYROOJHVWRSIW *HELOGH lKQOLFKHU $UW KDWWH )HOOPHU /OR\G VFKRQ LQ /DERUDWRULHQ XQG ([SHULPHQWLHUKDOOHQ JHVHKHQ LQ GHQHQ PDQ VLFK PLW GHU 1XW]EDUPDFKXQJ GHU SVLRQLVFKHQ (QHUJLH EHVFKlIWLJWH 6LH ZDUHQ +RKON|USHU LQ GHQHQ XOWUDKRFKIUHTXHQWH +\SHUHQHUJLH ]XU 5HVRQDQ] JHEUDFKW ZXUGH 'LH *HUlWH GLH )HOOPHU NDQQWH ZDUHQ YRQ KDQGOLFKHU *U|H 'LHV KLHU ZDUHQ *LJDQWHQ 6LH HU]HXJWHQ GLH 7UlJHUZHOOH DXI GLH GLH &KDU\EGLVFKH 6LUHQH LKUHQ /RFNUXI PRGXOLHUWH 'LH +DOOH KDWWH HLQHQ NUHLVUXQGHQ 4XHUVFKQLWW PLW HLQHP 'XUFKPHVVHU YRQ IQIKXQGHUW0HWHUQ'HU:HJGHQ2ULVKDVHLQHQ%HJOHLWHUJHIKUWKDWWHHQGHWHDXI HLQHP JHOlQGHUEHZHKUWHQ 5XQGJDQJ GHU GHQ ULHVLJHQ 5DXP XPVSDQQWH (V ZDU XQKHLPOLFKVWLOOLQGHU:HLWHGHU+DOOH'LH6LUHQHVFKZLHJ(UVWZHQQVLHVLFKDXIGLH QlFKVWH6HQGXQJYRUEHUHLWHWHZUGHQGLH5HVRQDWRUHQLQ7lWLJNHLWWUHWHQ ,P =HQLW GHU +DOOH VFKZHEWH HLQH JURH +HOLRODPSH GLH WDJHVJOHLFKH +HOOLJNHLW YHUEUHLWHWH'HU5XQGJDQJDXIGHQ)HOOPHUVLFKYRQGHP'XDUDKDWWHIKUHQODVVHQ ODJDQQlKHUQGDXI KDOEHP :HJ ]ZLVFKHQ GHU 6RKOH XQG GHU 'HFNH GHV PlFKWLJHQ 5DXPHV 'HU 0XWDQW VDK VLFK XP 'LH :DQG DQ GHU GHU *DQJ HQWODQJOLHI ZLHV ]DKOUHLFKHWULFKWHUI|UPLJHgIIQXQJHQDXI ³$XV GHQ 7ULFKWHUQ NRPPW GLH 0RGXODWLRQ HUNOlUWH 2ULVKD ³(PRWLRQHQ ,QIRUPDWLRQHQ DOOHV ZDV IU GHQ /RFNUXI JHEUDXFKW ZLUG (V JLEW 0RGXODWLRQVSDUDPHWHU GLH LPPHU JHEUDXFKW ZHUGHQ 6LH VLQG DXI GHQ XQWHUHQ (EHQHQJHVSHLFKHUW (UZLHVEHUGDV*HOlQGHUKLQZHJLQGLH7LHIH)HOOPHUEHXJWHVLFKQDFKYRUQXQG VDK XQWHU VLFK ZHLWHUH 5XQGJlQJH 6LH ZDUHQ LQ $EVWlQGHQ YRQ MH GUHLLJ 0HWHUQ DQJHRUGQHW(U]lKOWHLQVJHVDPWDFKWELV]XU6RKOHKLQXQWHU'DQQEOLFNWHHULQGLH +|KHhEHULKPZDUGLH:DQGJODWWXQGIXJHQORV'HU*DQJDXIGHP2ULVKDXQG HUVLFKEHIDQGHQZDUGHUK|FKVWJHOHJHQH ³+LHU REHQ IXKU GHU 'XDUD IRUW ³VLQG GLH 3DUDPHWHU GLH QXU YRUEHUJHKHQG YHUZHQGHW ZHUGHQ 'DV %LOG GHU )UDX LP ZHLHQ .OHLG PX VLFK KLHU LUJHQGZR EHILQGHQ )HOOPHUV =XYHUVLFKW VFKPRO] GDKLQ $OOHLQ DXI GHQ IQI]LJ 0HWHUQ :DQG GLH HU PKHORVEHUEOLFNHQNRQQWHJDEHVDFKW0RGXODWLRQVWULFKWHU:HQQMHGHU7ULFKWHUPLW HLQHP3DUDPHWHUVSHLFKHUJHNRSSHOWZDUGDQQEHIDQGHQVLFKDXIGLHVHU(EHQHEHU
6SHLFKHU:LHJURLKUH.DSD]LWlWZDUZXWHHUQLFKW8QWHU]ZHLHLQKDOEKXQGHUW 6SHLFKHUQQDFKGHPHLQHQ]XVXFKHQGHU,QIRUPDWLRQHQEHU*LOJLGHQWKLHOWZDUHLQ PKVHOLJHV8QWHUIDQJHQ ³'HU$XIVHKHUKDWHLQHQ.RQWUROOUDXPEHJDQQ2ULVKDYRQQHXHP³YRQGHPDXV HUGLH$QNXQIWYRQ6WHXHUVLJQDOHQXQG3DUDPHWHUVHQGXQJHQEHUZDFKHQNDQQ,FK ZHL ZDV GLFK EHZHJW (V LVW NHLQHVZHJV VR GD ZLU DOOH 6SHLFKHU GXUFKVXFKHQ PVVHQ :LU NRQ]HQWULHUHQ XQV DXI GLH ZHQLJHQ GLH LQ MQJVWHU =HLW HLQH 6HQGXQJ HUKDOWHQKDEHQ )HOOPHU/OR\GVFK|SIWHQHXHQ0XW ³:LUZLHGHUKROWHHU³:LOOVWGXHWZD ³'XJODXEVWGRFKQLFKWGDLFKGLFKDOOHLQVXFKHQODVVH"ILHOLKP2ULVKDLQV:RUW 'HU.RQWUROOUDXPZDUHLQUHFKWHFNLJHV*HPDFKYRQEHVFKHLGHQHQ$XVPDHQ(EHQVR EHVFKHLGHQ ZDU GLH $XVVWDWWXQJ (V JDE HLQH .RQVROH PLW ]DKOUHLFKHQ 0HJHUlWHQ 6LH ZLUNWH ZLH HLQ hEHUEOHLEVHO DXV HLQHU OlQJVW YHUJDQJHQHQ =HLW DOV GLH 7HFKQLN GHU(ZLJHQ.ULHJHUQRFKQLFKWVRZHLWHQWZLFNHOWZDUZLHKHXWH 1HEHQ GHU .RQVROH VWDQG HLQ SULPLWLYHU 7LVFK DXI GHP HLQH $SSDUDWXU LQVWDOOLHUW ZDUGHUPDQDQVDKGDVLHEHKHOIVPlLJ]XVDPPHQJHEDVWHOWZRUGHQZDU%DXWHLOH ODJHQ ZDKOORV YHUVWUHXW DXI GHU 7LVFKSODWWH (V JDE HLQH $Q]DKO DUFKDLVFK ZLUNHQGHU.DEHOYHUELQGXQJHQ6FKDOWHUXQGVRQVWLJH%HGLHQXQJVHOHPHQWHPDFKWHQ HLQHQGHUDUWSULPLWLYHQ(LQGUXFNDOVVHLHQVLHYRQ+DQGJHGUHFKVHOW ³'HLQ:HUN"IUDJWH)HOOPHUXQGGHXWHWHDXIGHQ7LVFK ³'DV 3URGXNW PHKUKXQGHUWMlKULJHU $UEHLW DQWZRUWHWH GHU 'XDUD ³,FK ELQ YRQ 1DWXU DXV NHLQ 7HFKQLNHU DEHU LP /DXI YRQ YLHUWDXVHQG -DKUHQ OHUQW VHOEVW GHU WUlJVWH*HLVWHLQH0HQJH=XJXP=XJOHUQWHLFKGLHSVLRQLVFKH7HFKQLNYHUVWHKHQ 0HLQ $SSDUDW PDJ YRQ JHULQJHP lVWKHWLVFKHP :HUW VHLQ $EHU HU WXW ZDV LFK YRQ LKPHUZDUWH ³'XNDQQVWGLH3DUDPHWHUVSHLFKHUDEIUDJHQ"HUNXQGLJWHVLFK)HOOPHU/OR\G ³'DV NDQQ LFK EHVWlWLJWH 2ULVKD ³hEULJHQV ,Q PHLQHQ YLHUWDXVHQG -DKUHQ KDEH LFK QLHPDOV HLQH XQJHZ|KQOLFKH $Q]HLJH EHPHUNW ,FK KDEH GLH /HXFKWSODWWH DP REHUHQ 5DQG GHU .RQVROH NHLQ HLQ]LJHV 0DO ]X GUFNHQ EUDXFKHQ ,FK ZHL DXFK QLFKWZDVJHVFKlKHZHQQLFKHVWlWH 2KQHHV]XZLVVHQUKUWHHUGDPLWDQHLQH)UDJHGLH)HOOPHUVFKRQVHLWHLQLJHU=HLW EHVFKlIWLJWH :XUGH GLH 6WDWLRQ EHUZDFKW" 2GHU YHUOLH .URYRU VLFK VR DXI GLH YROODXWRPDWLVLHUWH(LQULFKWXQJGDHUHLQHhEHUZDFKXQJIUEHUIOVVLJKLHOW"*DE HV MHPDQG GHU LQ GLHVHP $XJHQEOLFN ZXWH GD VLFK HLQ )UHPGHU LP ,QQHUQ GHU 6LUHQHEHIDQG":UGHHUXQWlWLJ]XVHKHQZLH2ULVKDVLFKDQGHQ3DUDPHWHUVSHLFKHUQ ]XVFKDIIHQPDFKWH" 'HU'XDUDKDWWHLQ]ZLVFKHQEHJRQQHQVHLQH$SSDUDWXULQ%HWULHE]XVHW]HQ ³:lKUHQG GHV YHUJDQJHQHQ =HKQWHOMDKUHV VDJWH HU ³VLQG QXU ]ZHL 3DUDPHWHUVHQGXQJHQKLHUDQJHNRPPHQGDYRQGLHOHW]WHYRUJDQ]NXU]HU=HLW,FK JODXEHZLUVHKHQXQVGLHVH]XHUVWDQ
)HOOPHU/OR\GQLFNWHVHLQ(LQYHUVWlQGQLV$XIUHJXQJKDWWHVLHKVHLQHUEHPlFKWLJW :HQQVHLQH9HUPXWXQJULFKWLJZDUZUGHHULQ.U]H*LOJLG]XVHKHQEHNRPPHQ (UILHEHUWHLKUHP$QEOLFNHQWJHJHQ ,Q GHU /XIW EHU GHP SULPLWLYHQ 7LVFK EHJDQQ HV ]X IODFNHUQ (LQH %LOGIOlFKH HQWVWDQG)OLPPHUQGH6FKOLHUHQ]RJHQGDUEHUKLQZHJ ³'DV LVW GHU 9RUVSDQQ HUNOlUWH 2ULVKD ³(U HQWKlOW GLH ,QIRUPDWLRQHQ GLH GHU 3URMHNWRU EUDXFKW XP GLH 0RGXODWLRQ LQ GHU JHZQVFKWHQ :HLVH ]X IRUPXOLHUHQ *OHLFKEHJLQQWGLHHLJHQWOLFKH6HQGXQJ,FKZDUQHGLFK6LHZLUGQLFKW 'HQ5HVWVHLQHU:RUWHK|UWH)HOOPHU/OR\GQLFKWPHKU(UVDK*LOJLG 'DV%LOGZDUJDQ]DQGHUVDOVHUHVLQ(ULQQHUXQJKDWWH(UEOLFNWHLQHLQHlUPOLFK DXVJHVWDWWHWHIHQVWHUORVH.DPPHU*LOJLGVDDXIHLQHPNORELJHQ6FKHPHO6LHZDU LQHLQ*HZDQGJHNOHLGHWGDVDXVJUREHP6DFNOHLQHQJHIHUWLJW]XVHLQVFKLHQ$EHU VHOEVW GDV XQDQVHKQOLFKVWH DOOHU .OHLGHU WDW LKUHU 6FK|QKHLW NHLQHQ $EEUXFK )DV]LQLHUW EHZXQGHUWH )HOOPHU GDV IHLQJHVFKQLWWHQH *HVLFKW GLH JURHQ GXQNOHQ $XJHQ GLH KHUUOLFKH )OOH EUDXQHQ +DDUHV GLH KRFK JHVFKZXQJHQHQ %|JHQ GHU YROOHQ /LSSHQ (U VDK GLH 7UDXHU XQG GHQ 6FKPHU] GLH VLFK LQ *LOJLGV 0LHQH VSLHJHOWHQXQGZDVHUVDKVFKQLWWLKPLQV+HU] (UYHUJDGLH8PJHEXQJLQGHUHUVLFKEHIDQG'LHSVLRQLVFKH5HVWVWUDKOXQJGLHYRQ GHP%LOGDXVJLQJZLUNWHDXIVHLQ%HZXWVHLQHLQXQGYHUVHW]WHLKQDQGHQ2UWDQ GHP*LOJLGVLFKEHIDQG(UPHLQWHHUEUDXFKWHQXUGLH+DQGDXV]XVWUHFNHQXPVLH ]X EHUKUHQ QXU GHQ 0XQG ]X |IIQHQ XP LKU 7URVW ]X]XVSUHFKHQ (U KDWWH YHUJHVVHQGDHVOHGLJOLFKHLQH$XI]HLFKQXQJZDUGLHHUVDK (UVSUWH*LOJLGV6FKUHFNDOVVLFKPLWGU|KQHQGHP*HUXPSHOLUJHQGZRLQGHU1lKH HLQH 7U |IIQHWH (U VDK VLH DXIVSULQJHQ 'LH NORELJHQ *HVWDOWHQ ]ZHLHU 5RERWHU HUVFKLHQHQLP9RUGHUJUXQGGHV%LOGHV*LOJLGZLFKYRUGHQ0DVFKLQHQ]XUFN6LH KDWWHQLFKWYLHO6SLHOUDXP'LH5FNZDQGGHU.DPPHUYHUVSHUUWHLKUGHQ:HJ6LH EUHLWHWHGLH$UPHDXVXQGSUHWHGLH+lQGHJHJHQGDVJUDXH0DXHUZHUNDOVWDVWH VLHQDFKHLQHUgIIQXQJGXUFKGLHVLHHQWNRPPHQNRQQWH,KU0XQG|IIQHWHVLFK]X HLQHP6FKUHL 8QEHLUUWEHZHJWHQVLFKGLH5RERWHUDXIGLH+LOIORVH]X(LQGQQHUIOH[LEOHU$UP VFKR YRUZlUWV $XV GHP NRQLVFK JHIRUPWHQ $UPVWXPSI UDJWH HWZDV 0HWDOOHQHV *LOJLG UL GLH $UPH LQ GLH +|KH $EHU GHU 5RERWHU OLH VLFK QLFKW LUULWLHUHQ 'LH JOLW]HUQGH 1DGHO WUDI *LOJLG LQ GLH 6HLWH GXUFK GDV JUREH 0DWHULDO GHV *HZDQGV KLQGXUFK ,KUH$XJHQZHLWHWHQVLFK(LQXQVlJOLFKYHUZXQGHUWHU$XVGUXFNHUVFKLHQDXILKUHP *HVLFKW 6LH ZUGH VFKZDFK 'LH %HLQH NQLFNWHQ LKU HLQ $Q GHU :DQG HQWODQJ UXWVFKWH VLH LQ VLFK ]XVDPPHQ 'HU ]ZHLWH 5RERWHU ELOGHWH HLQ 3DDU NUlIWLJHU *UHLIDUPH DXV (U IDWH GLH 5HJORVH KRE VLH DXI XQG EHWWHWH VLH DXI GLH SULPLWLYH /LHJH GLH DQ GHU 6HLWHQZDQG GHU .DPPHU VWDQG 'DPLW KDWWHQ GLH 5RERWHU LKUHQ $XIWUDJ RIIHQEDU HUOHGLJW 0LW KHOOHP 6XPPHQ HQWVFKZDQGHQ VLH DXV GHP 6LFKWEHUHLFKGHV$XIQDKPHJHUlWV6HNXQGHQVSlWHUZDUGDVUXPSHOQGH*HUlXVFKGHU
7UHLQ]ZHLWHV0DO]XK|UHQ )HOOPHU /OR\G VWDQG VSUXQJEHUHLW (U KDWWH GLH +DQG DP .ROEHQ GHU :DIIH 9RQ LUJHQGZRKHU GUDQJ HLQH 6WLPPH DXI LKQ HLQ GLH LKQ ]X EHUXKLJHQ VXFKWH (U K|UWH QLFKWGDUDXI(UZROOWH*LOJLGKHOIHQGDVZDUVHLQHLQ]LJHU*HGDQNH(VGUlQJWHLKQ VLFK QDFK YRUQH ]X ZHUIHQ XQG GLH %HZXWORVH DQ VLFK ]X UHLHQ VLH PLW VHLQHP .|USHU]XVFKW]HQREZRKOGLHDNXWH*HIDKUYRUEHUZDU:DVKDWWHGHU5RERWHU LKULQML]LHUW":HOFKH7HXIHOHLKlWWH.URYRULP6LQQ" ,UJHQGZRLP+LQWHUJUXQGVHLQHV%HZXWVHLQVVDGLH(UNHQQWQLVGDHUVLFKQLFKW ZLUNOLFK LQ *LOJLGV 1lKH EHIDQG 'D HU NHLQH $XVVLFKW KDWWH LKU ]X KHOIHQ 'D DOOHVZDVHUVDKVLFKLQ:LUNOLFKNHLWVFKRQYRUYLHOHQ6WXQGHQDEJHVSLHOWKDWWH$Q GLHVHQ )HW]HQ NODJHQ 9HUVWDQGV NODPPHUWH HU VLFK (U NRQQWH QLFKWV XQWHUQHKPHQ $EHU HU PXWH VLFK GHQ 5HVW GHU 6HQGXQJ DQVHKHQ ZHQQ HU HUIDKUHQ ZROOWH ZR *LOJLGJHIDQJHQJHKDOWHQZXUGH 'DV %LOG YHUEODWH 'LH 8PULVVH HLQHU QHXHQ 6]HQH HQWVWDQGHQ :LH HLQ 6FKHPHQ VFKZHEWH GLH VFKODQNH )UDXHQJHVWDOW YRQ GHU /LHJH HPSRU XQG GUDQJ GXUFK GLH 6HLWHQZDQG GHU .DPPHU DOV ZlUH IHVWH 0DWHULH IU VLH NHLQ +LQGHUQLV )HOOPHU HUVWDUUWH YRU 6WDXQHQ 'DV JUREH VDFNOHLQHQH *HZDQG ZDU YHUVFKZXQGHQ *LOJLG WUXJHLQODQJHVZHLHV.OHLG'DVGLFKWH+DDUIORLKULQ/RFNHQEHUGLH6FKXOWHUQ 6LHZLUNWHJHO|VWXQG]XIULHGHQ(LQIHLQHV/lFKHOQVSLHOWHXPGLHYROOHQ/LSSHQ6LH JOLWW GXUFK HLQHQ EUHLWHQ .RUULGRU GHVVHQ $XHQZDQG YRQ ERJHQI|UPLJHQ IHQVWHUORVHQgIIQXQJHQGXUFKEURFKHQZDU 'XUFK GLH gIIQXQJHQ KLQGXUFK EOLFNWH )HOOPHU DXI EOKHQGHV VRQQHQEHVFKLHQHQHV /DQG *LOJLG VFKZHEWH GXUFK HLQH gIIQXQJ XQG VDQN LQ GLH 7LHIH ,P +LQWHUJUXQG GHV %LOGHV ZXUGH HLQHQ $XJHQEOLFN ODQJ GLH 6LOKRXHWWH HLQHU 6WDGW VLFKWEDU (LQH VFKODQNHVSLW]H3\UDPLGHUDJWHKRFKDXVGHP0HHUGHU+lXVHUKHUYRU $OOPlKOLFK JHZDQQ GHU 0XWDQW VHLQH )DVVXQJ ]XUFN (U EHJULII ZDV JHVFKHKHQ ZDU 'HU 5RERWHU KDWWH *LOJLG HLQH 'URJH LQML]LHUW GLH +DOOX]LQDWLRQHQ KHUYRUULHI *LOJLG HUOHEWH LKUH VHKQOLFKVWHQ :QVFKH DOV RE VLH :LUNOLFKNHLW JHZRUGHQ ZlUHQ 6LHZDUIUHL6LHVFKZHEWHDXVGHU=HOOHGLHVLHELVKHUJHIDQJHQJHKDOWHQKDWWH6LH JOLWWLQGHQ3DUNKLQDEXQGODQGHWHDXIHLQHUYRQ%OXPHQEHUVlWHQ:LHVH 'HQ5HVWGHU6]HQHNDQQWH)HOOPHU(UKDWWHVLHVFKRQHLQPDOJHVHKHQGDPDOVDOV GLH 6LUHQH LKQ ]X ORFNHQ YHUVXFKWH 1XU VDK HU GDV %LOG GLHVPDO DXV DQGHUHU 3HUVSHNWLYH8QGGRUWZRHU]XVWHKHQJHJODXEWKDWWHDXIGHP:HJGHUGXUFKGLH %XVFKKHFNH IKUWH VWDQG QLHPDQG *LOJLG EUHLWHWH GLH $UPH DXV ,KU VFKLHQ SO|W]OLFK]X%HZXWVHLQJHNRPPHQ]XVHLQGDVLHQXUHLQHQ7UDXPHUOHEWH7UDXHU VSLHJHOWHVLFKLQLKUHQGXQNOHQ$XJHQ ³+LOIPLUGRFK8PGHU/LHEHGHU*|WWHUZLOOHQKLOIPLU 'DQQ ZDU GLH 4XDO YRUEHU GDV %LOG HUORVFKHQ )HOOPHU EOLQ]HOWH LQ GLH JUHOOH %HOHXFKWXQJGHV.RQWUROOUDXPV0LWHLQLJHU0KHIDQGHUVLFKLQGLH:LUNOLFKNHLW ]XUFN (U IXKU VLFK PLW GHU +DQG EHU GLH 6WLUQ XQG VWDUUWH YHUZXQGHUW DXI GLH
VFKLPPHUQGH6FKZHLVFKLFKWGLHVLFKDXIGHP+DQGUFNHQJHELOGHWKDWWH2ULVKD VWDQG QHEHQ GHP 7LVFK DXI GHP HU VHLQH SULPLWLYH $SSDUDWXU DXIJHEDXW KDWWH (U PXVWHUWHGHQ0XWDQWHQDXVGUHLDXIPHUNVDPHQ$XJHQ ³:HLWGXHVQXQ"IUDJWHHUPLWVDQIWHU6WLPPH ³:HLLFKZDV")HOOPHUV:RUWHZDUHQNDXPPHKUDOVHLQ.UlFK]HQ ³:R*LOJLGJHIDQJHQJHKDOWHQZLUG" ³1HLQ ³'DQQGDQNHGHLQHQJXWHQ*HLVWHUQGDLFKGLH6HQGXQJPLWJHK|UWKDEH ³'XKDVW" ³,FKKDEHDOOHVPLWHUOHEWEHVWlWLJWHGHU'XDUD³'XVDKVWGLH6WDGWLQGHU)HUQH" ³-D ³.URYRUKDWYLHOH6WlGWHVDJWH2ULVKD³$EHUQXUDXVHLQHUHLQ]LJHQHUKHEWVLFKGHU 7XUPGHUZLHHLQHVFKODQNHVSLW]H3\UDPLGHDXVVLHKW ³'XNHQQVWGHQ2UW"VWLH)HOOPHUKHUYRU ³,FK NHQQH LKQ DQWZRUWHWH 2ULVKD ³(U EHILQGHW VLFK LP ,QQHUQ GHU 5DXPIHVWXQJ 9DWRPDQGU\ 6LHZDUHQDXIGHP:HJ]XGHP5DXPGHQ)HOOPHU/OR\GGLH*UDENDPPHUQDQQWH ³6LH PDFKHQ VLFK GLH 6DFKH HLQIDFK VDJWH 2ULVKD ³6LH QHKPHQ GLH JDQ]H 6]HQH DXI,P9RUVSDQQEHILQGHQVLFKGLH,QIRUPDWLRQHQGLHGHQ3URMHNWRUZLVVHQODVVHQ DQ ZHOFKHU 6WHOOH HU VFKQHLGHQ PX ,Q GLHVHP )DOO VDKVW GX ZLH *LOJLG HLQH 'URJHQLQMHNWLRQ HUKLHOW GLH GHQ 7UDXP EHZLUNWH 0RGXOLHUW ZXUGH QXU PLW GHP 7UDXP ³'XELVWVLFKHUGD*LOJLGQRFKOHEW"IUDJWH)HOOPHU ³,FK ELQ VLFKHU DQWZRUWHWH GHU 'XDUD ³1XU PLW HLQHU OHEHQGHQ )UVWLQ NDQQ .URYRU GDV 9RON GHU .LRMD HUSUHVVHQ $OOHUGLQJV ZLUG PDQ VLH MHW]W QRFK VFKlUIHU EHZDFKHQDOVELVKHU0DQZHLGDGXNRPPVW.URYRULVWHLQHUGHUNHLQXQQ|WLJHV 5LVLNRHLQJHKW ³(UZHLQLFKWGDLFK*LOJLGV$XIHQWKDOWVRUWNHQQHVDJWH)HOOPHU ³.HQQVWGXLKQGHQQ"IUDJWH2ULVKD³'XVDKVWGLH3DUDPHWHUVHQGXQJ'LH6WDGWGLH LP +LQWHUJUXQG VLFKWEDU ZDU OHJW QDKH GD VLFK *LOJLG ]XP =HLWSXQNW GHU $XIQDKPHLQGHU)HVWXQJ9DWRPDQGU\EHIDQG$EHUZHUVDJWGDVLHLQ]ZLVFKHQQLFKW DQGHUVZRKLQJHEUDFKWZRUGHQLVW" ³'XVROOVWPLU0XWPDFKHQVDJWH)HOOPHU³'LH=ZHLIHONRPPHQPLUYRQDOOHLQH 2ULVKDZDUYRUHLQHP6FKRWWVWHKHQJHEOLHEHQ(V|IIQHWHVLFKXQGJDEGHQ%OLFNIUHLLQ GHQ5DXPPLWGHQ]Z|OI6lUJHQ ³)DOVFKHU 0XW LVW VFKOLPPHU DOV VFKOHFKWHU 5DW VDJWH GHU 'XDUD ³,FK KDEH GLFK EHREDFKWHWDOVGXGLH$XI]HLFKQXQJVDKVW'HLQ+HU]KlQJWDQ*LOJLG'XOlWGLFK QLFKW GDYRQ DEEULQJHQ LKU ]X KHOIHQ 'HVZHJHQ ZLOO LFK GLFK GDUDXI DXIPHUNVDP PDFKHQGDGXZRP|JOLFKHLQHQODQJHQXQGKDUWHQ:HJYRUGLUKDVW8QGZHQQ GXGLFKDQGHP2UWEHILQGHVWDQGHPGLH)UVWLQJHIDQJHQJHKDOWHQZLUGGDQQHUVW
VWHKVW GX YRU GHU VFKZLHULJVWHQ DOOHU +UGHQ 'HQQ GDQQ EHNRPPVW GX HV PLW .URYRU]XWXQ 'DV6FKRWWKDWWHVLFKLQ]ZLVFKHQZLHGHUJHVFKORVVHQ ³,FKKDEHHLQ=LHOXQGYRQGLHVHP=LHOZHUGHLFKQLFKWDEODVVHQ6RZLH)HOOPHU HVVDJWHNODQJHVHKHUEHLOlXILJNHLQH6SXUKHURLVFK³:HQQVLFKKHUDXVVWHOOWGD .URYRUGHU6WlUNHUHLVWQXQLUJHQGZDQQEHHQGHWMHGH.UHDWXULKU'DVHLQ ³,FKQHKPHDQGXZLUVWVRIRUWDXIEUHFKHQVDJWH2ULVKD ³:DUXPQLPPVWGXGDVDQ" =XPHUVWHQPDOZDUHQDQGHP'XDUD$Q]HLFKHQGHU9HUZLUUXQJ]XEHPHUNHQ ³1XQMHUDVFKHUGXGLFKEHZHJVWGHVWRJU|HULVWGHLQH&KDQFHGD*LOJLGVLFK QRFKLQGHU)HVWXQJ9DWRPDQGU\EHILQGHW ³'DV PDJ VHLQ (LQ /lFKHOQ VSLHOWH DXI )HOOPHU /OR\GV EUHLWHP *HVLFKW ³$EHU ]XYRU KDEH LFK QRFK DQGHUHV ]X WXQ ,FK VDJWH GLU GD LFK DXV ]ZHLHUOHL *UQGHQ KLHUKHUJHNRPPHQ VHL ,FK VDJWH GLU DXFK GD GDV 6FKLFNVDO HLQH DQGHUH 5ROOH IU GLFKYRUJHVHKHQKDWDOVGXJODXEVW ³:DVZDVKDVWGXYRU"IUDJWH2ULVKD³8QGZDVZHLWGXEHUPHLQ6FKLFNVDO" ³,FK ZHL ]XP %HLVSLHO VDJWH )HOOPHU /OR\G ³GD GX PLFK QDFK 9DWRPDQGU\ EHJOHLWHQZLUVW $XI HLQPDO KDWWH 2ULVKD IQI $UPH GLH DOOHVDPW ZLOG JHVWLNXOLHUHQGH %HZHJXQJHQ DXVIKUWHQ $EHU EHYRU HU VHLQH hEHUUDVFKXQJ EHUZXQGHQ KDWWH XQG HWZDV VDJHQ NRQQWHHUNXQGLJWHVLFK)HOOPHU ³$FKWXQGIQI]LJ GHQNHQGH /HEHZHVHQ JLEW HV LQ GLHVHU 6WDWLRQ QLFKW ZDKU GLFK HLQJHUHFKQHW" 'LH )UDJH EUDFKWH GHQ 'XDUD HLQLJHUPDHQ DXV GHP .RQ]HSW (U PXWH HUVW QDFKGHQNHQ ³'DVLVWULFKWLJVDJWHHUVFKOLHOLFK ³,FKKDEH7LHUHJHVHKHQ9|JHO]XP%HLVSLHOHULQQHUWHVLFK)HOOPHU³:DVLVWPLW LKQHQ" ³6LH VLQG 3VLRPDWD DQWZRUWHWH 2ULVKD ³3VLRQLVFKH 3URMHNWLRQHQ (EHQVR ZLH GLH 3IODQ]HQ 6LH VWW]HQ VLFK QLFKW DXI SK\VLVFKH .|USHU ZLH GLH 4XOLPDQ XQG GLH 8OXSKR ³'DVLVWJXWVDJWH)HOOPHW³:DVGLH4XOLPDQXQGGLH8OXSKRDQJHKWGXNDQQVW VLHMHGHU]HLWKLHUKHU]XUFNUXIHQ" ³'DV NDQQ LFK EHVWlWLJWH 2ULVKD ³$EHU ZDV ZDUXP RK LKU *HLVWHU PLU NRPPWHLQH$KQXQJ ³6SULFKVLHDXVIRUGHUWH)HOOPHULKQDXI ³'XZLOOVWXQVYRQKLHUPLWQHKPHQ ³6RLVWHV,FKJODXEHGXKDVWPLUYRUKLQHWZDVYHUVFKZLHJHQDOVZLUEHUGLH'DXHU GHLQHU*HIDQJHQVFKDIWVSUDFKHQ'XKDVW6FKDQGHDXIGLFKJHODGHQVDJWHVWGXLQGHP GX .URYRUV 'LHQVWH YHUULFKWHVW XQG HV ]XOlW GD IKOHQGH :HVHQ JHTXlOW ZHUGHQ =ZHLWDXVHQG-DKUHVDJWHVWGXZROOWHVWGXQRFKJHGXOGLJZDUWHQELV.URYRUGLUGLH
YHUVSURFKHQH )UHLKHLW JLEW 8QG GDQQ ZLOOVW GX ]XP .DPSI JHJHQ GHQ (ZLJHQ .ULHJHUDQWUHWHQ ³6R VSUDFK LFK VDJWH 2ULVKD IDVW WURW]LJ ³XQG VR LVW HV ,FK KDEH GLU QLFKWV YHUVFKZLHJHQ ³9LHOOHLFKW QLFKW QXU PLU VRQGHUQ DXFK GLU VHOEVW DQWZRUWHWH )HOOPHU ³:DUXP ZLOOVW GX ]ZHLWDXVHQG -DKUH ZDUWHQ" 'X N|QQWHVW VRIRUW EHJLQQHQ GHLQHQ 3ODQ ]X YHUZLUNOLFKHQ:DVGLUIHKOWLVWHLQ)DKU]HXJGDVGLFKDQGHQ2UWEULQJWDQGHPGX GHLQHQ )HOG]XJ EHJLQQVW ,FK KDEH HLQ )DKU]HXJ +DVW GX GLHVH 0|JOLFKNHLW EHUVHKHQ" 'HU'XDUDZLFKHLQSDDU6FKULWWH]XUFN6HLQH$XJHQZXUGHQVRJURGDVLHDXV GHQ+|KOHQ]XTXHOOHQGURKWHQ ³'DV GDV KDEH LFK VWRWWHUWH HU ³2K LKU :DOGJHLVWHU YRQ 3VXQQ MHW]W NRPPW PLU GHU *HGDQNH ZLHGHU (U NDP ZLHGHU QlKHU (U ZDU LP WLHIVWHQ ,QQHUQ DXIJHZKOWGDVVDKPDQLKPDQ³'XKDVWHLQ)DKU]HXJ"IUDJWHHU]DJKDIW6HLQH 6WLPPH]LWWHUWHDOVKLQJHYRQGHU$QWZRUWGLHHUEHNDPVHLQ/HEHQDE ³,FK KDEH HLQ )DKU]HXJ EHNUlIWLJWH )HOOPHU ³:LH VRQVW PHLQVW GX ZlUH LFK KLHUKHUJHNRPPHQ" ³'X ELVW HLQ *RULP HLQ *lQJHU GHV 1HW]HV 0DQ VSULFKW GDYRQ GD GHQ *RULPV JHKHLPQLVYROOH0HWKRGHQGHU)RUWEHZHJXQJ]XU9HUIJXQJVWHKHQGLHQXUVLHVHOEVW DQZHQGHQN|QQHQ ³'DVPDJVRVHLQVDJWH)HOOPHU³$EHUHVWULIIWVLFKVRGDLFKPLWHLQHP)DKU]HXJ KLHUKHUJHNRPPHQELQ ³8QGGXZLOOVWPLFKPLWQHKPHQ" ³:RKLQ GX ZLOOVW VRZHLW HV LP 5DKPHQ PHLQHU 0|JOLFKNHLWHQ OLHJW 'LH VLHEHQ 4XOLPDQXQGGLHIQI]LJ8OXSKRDXFK'HQQKLHUZLUGHVEDOGQLFKWPHKUJXWOHEHQ VHLQ ³:LHZLHPHLQVWGXGDV" (LQKDUWHU*ODQ]WUDWLQ)HOOPHU/OR\GVJUDXEODXH$XJHQ ³'HU(ZLJH.ULHJHU.URYRUKDWYLHOH&KDU\EGLVFKH6LUHQHQPLWGHQHQHUGLH*lQJHU GHV1HW]HVLQVHLQH)DOOHQORFNW1LHPDQGZHLZRGLH6LUHQHQODXHUQ1LHPDQGZHL ZDQQVLHLKUH /RFNUXIH DXVVWUDKOHQ $EHU GLHVH HLQH 6LUHQH KDEH LFK JHIXQGHQ,FK ZHUGH GDIU VRUJHQ GD VLH QLHPDOV ZLHGHU HLQHQ *lQJHU GHV 1HW]HV LQV 9HUGHUEHQ ORFNHQNDQQ ³'XZLOOVWVLHEHJDQQ2ULVKDVWRFNHQG ³,FKZHUGHVLHYHUQLFKWHQVDJWH)HOOPHU/OR\GPLWHQWVFKORVVHQHU+lUWH³,FKKDEH :DIIHQDQ%RUGPLWGHULFKGHU6LUHQHGHQ*DUDXVPDFKHQNDQQ (LQH=HLWODQJVFKZLHJGHU'XDUD8QJOlXELJHV6WDXQHQOHXFKWHWHDXVVHLQHQ$XJHQ 6FKOLHOLFKDEHUJHZDQQHUGLH)DVVXQJ]XUFN ³:HLW GX GD GX GDPLW GHP .ULHJHU GLH IUFKWHUOLFKVWH +HUDXVIRUGHUXQJ HQWJHJHQVFKOHXGHUVW GLH HV EHUKDXSW JLEW" (U ZLUG GLFK MDJHQ ELV DQV (QGH GHV 8QLYHUVXPV
)HOOPHUQLFNWH ³,FK ZHL HV (U VROO ZLVVHQ GD HLQHU DXI LKQ ]XNRPPW GHU LKQ IU DOOHV /HLG EHVWUDIHQZLUGGDVHU*LOJLGDQJHWDQKDW :DV2ULVKDPLWGHQ*HUlWHQPDFKWHGLHKLQWHUGHQ6lUJHQDQGHU:DQGDQJHEUDFKW ZDUHQ NRQQWH )HOOPHU /OR\G QLFKW HUNHQQHQ =XQlFKVW OLH VLFK NHLQH :LUNXQJ HUNHQQHQ'LH8OXSKRXQGGLH4XOLPDQODJHQVWHLIXQGUHJORV 'HU 'XDUD KDWWH VHLQH 9HUULFKWXQJHQ EHHQGHW 'LH YLHU $UPH GLH HU YRUEHUJHKHQG DXVJHELOGHWKDWWHZDUHQZLHGHUYHUVFKZXQGHQ ³:LHODQJHZLUGHVGDXHUQELVVLHVLFKDXVHLJHQHU.UDIWEHZHJHQN|QQHQ"ZROOWH )HOOPHUZLVVHQ ³=ZHL6WXQGHQDQWZRUWHWH2ULVKD ³:DQQZLUG.URYRUPHUNHQGDHLQHVHLQHU6LUHQHQDXIJHK|UWKDW]XIXQNWLRQLHUHQ" ³'DUDXINDQQLFKGLUQLFKWDQWZRUWHQ,FKKDEHPLFKRIWJHIUDJWZLHGLHVH6WDWLRQ JHVLFKHUWLVW(VJLEW+XQGHUWHYRQ5lXPHQGLHLFKQLHEHWUHWHQKDEH(VPDJVHLQ GDLQGHQJHKHLPHQ5lXPHQ$UPHHQYRQ5RERWHUQODXHUQGLHGDUDXISURJUDPPLHUW VLQG]X]XVFKODJHQZHQQHLQHUGLH6LUHQHEHVFKlGLJHQZLOO(VPDJDEHUDXFKVHLQGD GLH5lXPHQXUKDUPORVHVWHFKQLVFKHV*HUlWHQWKDOWHQ ³'DV5LVLNRPXLFKDXIPLFKQHKPHQVDJWH)HOOPHU/OR\GPHKULP6HOEVWJHVSUlFK ³$XIMHGHQ)DOOZLUG.URYRUPHUNHQZHQQGLH6LUHQHLQ0LOOLRQHQ6WFNH]HUSODW]W ³'DVLVWJHZLEHVWlWLJWH2ULVKD³(LQHJHZDOWLJHSVLRQLVFKH6FKRFNZHOOHZLUGVLFK GXUFKGHQ+\SHUUDXPDXVEUHLWHQXQGGDQQ ³8QGGDQQZDV" ³'DQQ EHJLQQW GLH -DJG DXI GHQ )UHYOHU GHU HV JHZDJW KDW VLFK DQ .URYRUV NRVWEDUVWHP(LJHQWXP]XYHUJUHLIHQ (LQVS|WWLVFKHV/lFKHOQHUVFKLHQDXI)HOOPHUV*HVLFKW(UZROOWHHWZDVVDJHQDEHU HLQ VFKZDFKHV NUDW]HQGHV *HUlXVFK OHQNWH LKQ DE (U ZDQGWH VLFK XP XQG VDK LQ HLQHPGHU%HKlOWHUGLHSHO]LJH*HVWDOWHLQHV8OXSKRVLFKEHZHJHQ'DV]ZHUJHQKDIWH :HVHQ KDWWH GHQ 2EHUN|USHU DXIJHULFKWHW XQG VWDUUWH PLW QHXJLHULJHQ KHOOZDFKHQ $XJHQGXUFKGLHJOlVHUQH$EGHFNXQJGHV6DUJHV ³'DV JLQJ VFKQHOO VWDXQWH 2UVLKD ³'LHVHU KLHU ZLUG VFKRQ LQ HLQHU KDOEHQ 6WXQGH ZLHGHULQGHU/DJHVHLQVLFKDXVHLJHQHU.UDIW]XEHZHJHQ ³,FKKDEHNHLQH=HLW]XZDUWHQELVVLHDOOHZLHGHUEHL.UlIWHQVLQGHUNOlUWH)HOOPHU ³,FKPX]XPHLQHP)DKU]HXJ=HLJPLUHLQHQ:HJQDFKGUDXHQ ³(VJLEWYLHOH:HJHDQWZRUWHWH2ULVKD³:RLVWGHLQ)DKU]HXJ" )HOOPHUVFKORGLH$XJHQXQGULHIVLFKGDV7DVWHUELOGLQ(ULQQHUXQJ]XUFNGDVHU JHVHKHQKDWWHEHYRUHULQGHQ(LQVFKQLWWHLQIORJ6RJXWHUNRQQWHEHVFKULHEHUGHP 'XDUDGLH(LQ]HOKHLWHQGHV%LOGHV ³,FKJODXEHLFKZHLZRGDVLVWVDJWH2ULVKD³.RPPPLWPLU 6LH YHUOLHHQ GLH *UDENDPPHU LQ GHUVHOEHQ 5LFKWXQJ DXV GHU VLH YRU 6WXQGHQ JHNRPPHQZDUHQ6LHSDVVLHUWHQGHQ2UWDQGHPVLHGDVSVLRQLVFKH/DQGYHUODVVHQ KDWWHQ )HOOPHU VSUWH QLFKWV (V EHGXUIWH DQVFKHLQHQG EHVRQGHUHU 9RUNHKUXQJHQ
ZHQQ PDQ YRQ KLHU DXV LQ GDV *HOlQGH GHU +DOOX]LQDWLRQ ]XUFNNHKUHQ ZROOWH RGHU(LQJlQJHXQG$XVJlQJHZDUHQQLFKWPLWHLQDQGHULGHQWLVFK (LQKXQGHUW0HWHUZHLWHUZDQGWHVLFKGHU*DQJVHLWZlUWV )HOOPHU /OR\G KDWWH ZlKUHQG GHU YHUJDQJHQHQ 0LQXWH IHVWJHVWHOOW GD LKP GDV $WPHQ]XQHKPHQGH6FKZLHULJNHLWHQEHUHLWHWH'LH/XIWZXUGHGQQHU$EHUVRODQJH 2ULVKD LKQ IKUWH ZROOWHHUVLFKQLFKWVDQPHUNHQODVVHQ-HW]WDEHUEOLHEGHU'XDUD VWHKHQ ³9RQKLHUDQVDJWHHU³NDQQVWGXGHQ:HJQLFKWYHUIHKOHQ,FKHPSIHKOHGLUGHQ +HOP]XVFKOLHHQ'XKDVWVFKRQEHPHUNWGDGHU/XIWGUXFNUDSLGHQDFKOlW0HUN GLUGHQ:HJJXW'XEUDXFKVWLKQIUGLH5FNNHKU ³,FK ZHUGH DXI GHP 5FNZHJ QLFKW ZLHGHU LP SVLRQLVFKHQ /DQG DXIWDXFKHQ" HUNXQGLJWHVLFKGHU0XWDQW ³1HLQ 'LH 'XUFKJlQJH VLQG JHVSHUUW VHLW GLH %HZXWVHLQH GHU *HIDQJHQHQ LQ LKUH .|USHU]XUFNNHKUWHQ ³,FK NDQQ QLFKW VDJHQ ZLH ODQJH HV GDXHUQ ZLUG ELV LFK PHLQ %RRW ILQGH VDJWH )HOOPHU³$EHULFKNHKUHDXIGHPVFKQHOOVWHQ:HJ]XUFN ³'DVJODXEHLFKGLUYHUVLFKHUWH2ULVKD ³,QGHU=ZLVFKHQ]HLWZLUVWGXPLWGHQ8OXSKRXQGGHQ4XOLPDQDOOH+lQGHYROO]X WXQKDEHQ6LHZHUGHQEHUHLQDQGHUKHUIDOOHQZROOHQVREDOGVLHVLFKZLHGHUEHZHJHQ N|QQHQ *XWPWLJHU6SRWWOHXFKWHWHDXV2ULVKDV$XJHQ ³0DFKGLUGHVZHJHQNHLQH6RUJHPHLQWHHU 0LW JHULQJHU *HVFKZLQGLJNHLW JOLWW GHU /DVWHQURERW GXUFK GLH )LQVWHUQLV )HOOPHU /OR\GV6FKHLQZHUIHUPDOWHQ/LFKWNUHLVHDXI)OlFKHQDXVJODWWHPJUDXHP0HWDOO6LH HU]HXJWHQNHLQ6WUHXOLFKW'HU6WROOHQZDUOXIWOHHU 'HU 5RERWHU KDWWH GLH )RUP HLQHU HLQIDFKHQ TXDGUDWLVFKHQ 3ODWWIRUP YRQ HLQHP 4XDGUDWPHWHU )OlFKH XQG IQI =HQWLPHWHUQ 'LFNH 'DV $QWULHEVV\VWHP ZDU LP ,QQHUQ GHU 3ODWWIRUP XQWHUJHEUDFKW HEHQVR HLQ DXI $QWLJUDYEDVLV DUEHLWHQGHU )HVVHOIHOGJHQHUDWRUGHVVHQ$XIJDEHHVZDUGLH]XWUDQVSRUWLHUHQGH/DVW]XVLFKHUQ 9LHOKDWWHGHU*HQHUDWRUGLHVPDOQLFKW]XWXQ'LH/DVWZDUNOHLQXQGJOHLFK]HLWLJVR PDVVLYGDHVHLQHVEHUDXVNUlIWLJHQ6WRHVEHGXUIWKlWWHVLHDXVGHU5XKHODJH]X EULQJHQ 6LH KDWWH GLH )RUP HLQHV (OOLSVRLGV YRQ =HQWLPHWHUQ /l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
HVDXVNDXIPlQQLVFKHU6LFKWEHWUDFKWHWHHLQHHQRUPH,QYHVWLWLRQGDU1LFKWQXUGDV 6LH HQWKLHOW GLH 3URGXNWH HLQHU 7HFKQLN GLH GLH (ZLJHQ .ULHJHU DOV LKU SULYDWHV *HKHLPQLVEHWUDFKWHWHQ :LH VROOWH PDQ VLFK HUNOlUHQ GD .URYRU QLFKWV XQWHUQRPPHQ KDWWH GDV JHZDOWLJH *HELOGHJHJHQIUHPGH(LQGULQJOLQJH]XVFKW]HQ":DUHUVRVLFKHUGDQLHPDQGHV ZDJHQ ZUGH VLFK DP (LJHQWXP HLQHV (ZLJHQ .ULHJHUV ]X YHUJUHLIHQ" (U PXWH GDPLWUHFKQHQGD)UHPGHKLHUDXIWDXFKWHQ(UUHFKQHWHLQGHU7DWGDPLWGHQQGHU 'DVHLQV]ZHFN GHU &KDU\EGLVFKHQ 6LUHQHQ ZDU *lQJHU GHV 1HW]HV LQ GLH )DOOH ]X ORFNHQ(LQ1HW]JlQJHUDEHUZUGHYRQ.URYRUV0DFKWQLFKWVREHHLQGUXFNWVHLQGD HUHVXQWHUOLHLQV,QQHUHHLQHU6LUHQHYRU]XVWRHQXQGGRUWVRYLHO6FKDGHQZLHQXU P|JOLFKDQ]XULFKWHQ (V HUJDE DOOHV VR ZHQLJ 6LQQ 9LHOOHLFKW KDWWH 2ULVKD GRFK UHFKW XQG LQ GHP $XJHQEOLFN LQ GHP HU GLH %RPEH GHSRQLHUWH |IIQHWHQ VLFK GLH YLHOHQ +XQGHUWH JHKHLPHU 6FKRWWH XQG VSLHQ %DWDLOORQH YRQ .DPSIURERWHUQ DXV GLH LKP DQ GHQ .UDJHQ JLQJHQ 'DV ZDU ZLH HU JHVDJW KDWWH GDV 5LVLNR GDV HU DXI VLFK QHKPHQ PXWH (U HUUHLFKWH GLH *UDENDPPHU RKQH =ZLVFKHQIDOO (U KDWWH HUZDUWHW GRUW HLQLJHQ 7XPXOWYRU]XILQGHQDEHUGHU'XDUDVFKLHQGLH/DJHWDWVlFKOLFKXQWHU.RQWUROOH]X KDEHQ 'LH *HIDQJHQHQ ZDUHQ DXI GHQ %HLQHQ 'LH 4XOLPDQ NDXHUWHQ ]XU /LQNHQ GLH 8OXSKR ]XU 5HFKWHQ 'LH 8OXSKR PXVWHUWHQ GHQ (LQWUHWHQGHQ XQG VHLQHQ 5RERWHUDXVQHXJLHULJHQVFKZDU]HQ.QRSIDXJHQ'LH4XOLPDQUDVFKHOWHQPLWGHQ .RSIEOlWWHUQ1LHPDQGVSUDFKHLQ:RUW ³,FKKDEHLKQHQNODUJHPDFKWGDVLHVLFKUXKLJYHUKDOWHQPVVHQHUNOlUWH2ULVKD ³(LQ:RUWXQGVLHYHUVFKZLQGHQZLHGHULQLKUHQ%HKlOWHUQ ³:LHZHLWVLQGVLH"ZROOWH)HOOPHUZLVVHQ ³6LH KDEHQ VLFK UDVFKHU HUKROW DOV LFK HUZDUWHWH 'LH )UHXGH PX GDPLW ]X WXQ KDEHQ,FKKDEHLKQHQJHVDJWGDGXJHNRPPHQELVWXPVLH]XUHWWHQ ³:LHVROOHQZLUVLHDQ%RUGEULQJHQ"6LHKDEHQNHLQH5DXPDQ]JH ³2KGRFKZLGHUVSUDFKGHU'XDUD³6FKXW]DQ]JHVLQGYRUKDQGHQ ³6LH VROOHQ VLH DQOHJHQ VDJWH )HOOPHU ³%ULQJ VLH QDFK REHQ 'X NHQQVW GHQ :HJ $P$XVJDQJGHV6WROOHQVOLHJWPHLQ%RRW(VZLUGHLQZHQLJHQJZHUGHQ$EHUZLU KDEHQ VQLFKWZHLW (UVHW]WHVHLQHQ:HJIRUW(UVHOEVWHULQQHUWHVLFKQLFKWPHKUZLHHUYRQGHUJURHQ +DOOHLP=HQWUXPGHU$QODJH]XU*UDENDPPHUJHNRPPHQZDU$EHUGHU6\QWURQ KDWWHHLQHJHQDXH$XI]HLFKQXQJDQJHIHUWLJW(UEUDXFKWHHLQH9LHUWHOVWXQGHXPGLH 6WHOOH]XHUUHLFKHQDQGHUHU]XYRUPLW2ULVKDJHVWDQGHQKDWWH 'HU5RERWHUGHSRQLHUWHGHQ6SUHQJN|USHUDXIGHPPLWIODFKHU5LHIHOXQJYHUVHKHQHQ %RGHQ GHV 5XQGJDQJV %HVRUJW PXVWHUWH )HOOPHU GHQ %RGHQEHODJ XQG GLH ZDQGVHLWLJH .DQWH GHV *DQJV (V K|UWH HLQ KDOEODXWHV .QLUVFKHQ 'RUW ZR GHU 6SUHQJN|USHU ODJ ELOGHWH GHU %RGHQ HLQH 9HUWLHIXQJ 'LH %HIHVWLJXQJ HQWODQJ GHU
.DQWH KLHOW 'LH )OlFKH GHV 5XQGJDQJV QHLJWH VLFK HLQ ZHQLJ QDFK DXHQ 6RQVW JHVFKDKQLFKWV'HU*DQJZDUVWDELOJHEDXW 'HU 5RERWHU KDWWH VLFK EHUHLW JHKDOWHQ VRIRUW ]X]XJUHLIHQ IDOOV GDV *HIJH $Q]HLFKHQ GHU hEHUODVWXQJ HUNHQQHQ OLH )HOOPHU ZDU XQWHU GHU 0QGXQJ GHV .RUULGRUV VWHKHQ JHEOLHEHQ GHU LQ 5LFKWXQJ GHU *UDENDPPHU IKUWH 6HLQH 6RUJH HUZLHVVLFKDOVXQEHJUQGHW$XIDWPHQGWUDWHUDXIGHQ5XQGJDQJKLQDXVXQGJLQJ QDFKYRUQHELV]XP*HOlQGHU 1DFKGHQNOLFKEOLFNWHHULQGLH7LHIH'LHULHVLJHQ5HVRQDWRUHQKLQJHQUHJORV-HW]WGD GLH (QWVFKHLGXQJ JHIDOOHQ ZDU EHGDXHUWH HU GD HU GLH 6LUHQH ZUGH ]HUVW|UHQ PVVHQ:LHYLHOKlWWHQGLH:LVVHQVFKDIWOHUXQG7HFKQLNHUGLHDXI6DEKDOPLWGHQ *lQJHUQGHV1HW]HV]XVDPPHQDUEHLWHWHQKLHUOHUQHQN|QQHQ 'DV ZDUHQ PLJH *HGDQNHQ (U ZDU DOOHLQ (U EHVD QLFKW GDV WHFKQLVFKH 9HUVWlQGQLVGDVHUIRUGHUOLFKZDUGLH*HKHLPQLVVHGLHVHU$QODJH]XHUIRUVFKHQ(U KlWWH GLH :LVVHQVFKDIWOHU XQG 7HFKQLNHU DXV GHP 6WW]SXQNW 6DEKDO KHUEHLUXIHQ PVVHQ 6LH ZDUHQ VHOEVW NHLQH *lQJHU GHV 1HW]HV 6LH KlWWHQ PLW 5DXPVFKLIIHQ DQUHLVHQ PVVHQ'DVZlUHDXIJHIDOOHQ 'LH 9RUVWHOOXQJ HUIOOWH GHQ 0XWDQWHQ PLW 8QUXKH :LH NDP HU GD]X VLFK EHU DQGHUHGHQ.RSI]X]HUEUHFKHQZHQQHUVHOEHUQXUZHQLJHKXQGHUW0HWHUYRQGHQ 5HVRQDWRUHQHQWIHUQWVWDQG":DVZUGHJHVFKHKHQZHQQGLH$QODJHSO|W]OLFKDNWLY ZXUGH" $XIHLQPDOKDWWHHUHVHLOLJ(LQNXU]HU%HIHKOJHQJWHGHQ5RERWHULQ%HZHJXQJ ]X VHW]HQ 2KQH ]XVlW]OLFKH $QZHLVXQJ VFKZHEWH HU GHQ :HJ ]XUFN GHQ HU JHNRPPHQZDU)HOOPHU/OR\GWULHELKQ]XU(LOHDQ(UVHOEVWKDWWHGDV*UDYR3DN DNWLYLHUWXPUDVFKHUYRUZlUWV]XNRPPHQ 2ULVKD XQG VHLQH 6FKXW]EHIRKOHQHQ ZDUWHWHQ DXI GHU 6RKOH GHV (LQVFKQLWWV DOV )HOOPHU /OR\G LQ %HJOHLWXQJ GHV 5RERWHUV DXV GHP 6WROOHQ DXIWDXFKWH 'HU 'XDUD WUXJ HLQH XQI|UPLJH 0RQWXU GLH ELV DXI GHQ WUDQVSDUHQWHQ +HOP VR DXVVDK DOV EHVWQGH VLH DXV NUlIWLJHP /HGHU $XV GHQ 6HLWHQ KLQJHQ VFKODIIH lUPHOlKQOLFKH *HELOGH )U GHQ )DOO GD 2ULVKD VLFK JH]ZXQJHQ VDK ([WUHPLWlWHQ DXV]XELOGHQ ZUGHQVLHLKP]XVWDWWHQNRPPHQ 'LH 4XOLPDQ ZDUHQ PLW 6FKXW]DQ]JHQ DXVJHVWDWWHW GLH GHQ 6FKXW]NRPELQDWLRQHQ WHUUDQLVFKHU5DXPIDKUHUJOLFKHQQXUGDVLHHEHQGUHL$UPHXQGGUHL%HLQHXQGGHQ ]ZLVFKHQ GHQ %HLQDQVlW]HQ KHUDEKlQJHQGHQ 6WHL GHV 7UlJHUV XQWHU]XEULQJHQ YHUPRFKWHQ (LQ UXQGXP GXUFKVLFKWLJHU .XJHOKHOP VFKW]WH GHQ 6FKlGHO GHU IU )HOOPHUV%HJULIIHHLQHPLUGLVFKHQ%OXPHQNRKONRSIlKQHOWH 2ULJLQHOO ZDUHQ GLH 0RQWXUHQ GHU 8OXSKR 6LH EHVWDQGHQ DXV WUDQVSDUHQWHQ 'UHLYLHUWHONXJHOQ LQ GHQHQ GHU 7UlJHU VLFK IUHL EHZHJHQ NRQQWH 'LH 'UHLYLHUWHONXJHO UXKWH DXI HLQHU IODFKHQ %DVLV GLH DQ LKUHU 8QWHUVHLWH PLW ]DKOUHLFKHQNOHLQHQPHFKDQLVFKHQ*HKZHUN]HXJHQDXVJHVWDWWHWZDU(VKLHGDGHU 7UlJHUGHV6FKXW]DQ]XJVGLHNQVWOLFKHQ%HLQHDNWLYLHUWHLQGHPHUDXIGHU2EHUVHLWH
GHU %DVLV *HKEHZHJXQJHQ PDFKWH (LQ 6\VWHP YRQ 7UDQVSRQGHUQ XQG HOHNWURQLVFKPHFKDQLVFKH *HKZHUNH VRUJWHQ VRGDQQ GDIU GD GLH NQVWOLFKHQ ([WUHPLWlWHQDXIGHU8QWHUVHLWHGHU%DVLVVLFKLQGHUJHZQVFKWHQ:HLVHEHZHJWHQ 1RFK ZlKUHQG HU VLFK LP 6WROOHQ EHIDQG KDWWH )HOOPHU VLFK =HLW JHQRPPHQ GLH %HZXWVHLQVLQKDOWHGHUEHIUHLWHQ*HIDQJHQHQ]XDQDO\VLHUHQ%HLGHQ8OXSKRZLHEHL GHQ4XOLPDQIDQGHUHLQ]XUFNKDOWHQGHV*HIKOGHU)UHXGHXQGGHU(UOHLFKWHUXQJ ZREHLGLH'lPSIXQJYRQ$UJZRKQXQG0LWUDXHQDXVJHEWZXUGH'DVZDUOHLFKW YHUVWlQGOLFK 4XOLPDQ XQG 8OXSKR WUDXWHQ GHP *OFN QLFKW VR UHFKW GDV LKQHQ ]XWHLO ZHUGHQ VROOWH 6LH IUFKWHWHQ GD LKU %HIUHLHU VLFK DOV .URYRUV $JHQW HQWSXSSHQZHUGHGHUHLQJUDXVDPHV6SLHOPLWLKQHQWULHE )HOOPHU |IIQHWH GLH JURH 6FKOHXVH GHV %RRWHV 'LH (LQVFKOHXVXQJ HUIROJWH LQ GUHL (WDSSHQ ]ZHL IU GLH 4XOLPDQ GHUHQ ]ZHLWHU 6FKXE YRQ 2ULVKD EHJOHLWHW ZXUGH XQGHLQHGULWWHIUGLH8OXSKRLQ%HJOHLWXQJ)HOOPHUVXQGGHV5RERWHUV 'DV %RRW ZDU HLJHQWOLFK DOV (LQPDQQIDKU]HXJ JHGDFKW $OOHUGLQJV EHVD HV /DGHUlXPHIUGHQ7UDQVSRUWYRQ*HUlWHQRGHUVRQVWLJHQ*WHUQ1DFKGHP2ULVKD )HOOPHUXQGGLH%HIUHLWHQVLFKGHU+HOPHHQWOHGLJWKDWWHQHUNOlUWH)HOOPHUVHLQHQ )DKUJlVWHQGLH6LWXDWLRQ ³(LQHJXWH)OXJVWXQGHYRQKLHUHQWIHUQWOLHJWPHLQ5DXPVFKLIIYRU$QNHUVDJWHHU ³'RUW KDEHQ ZLU EHTXHP 3ODW] XQG LFK ELQ EHUHLW HXFK DQ MHGHV EHOLHELJH =LHO ]X EULQJHQ ZHQQ HV QLFKW DOO]X ZHLW YRP :HJ DEOLHJW $EHU ELV ZLU GDV 6FKLII HUUHLFKHQJHKWHVHLQZHQLJHQJ]X,FKKRIIHLKUKDEWGDIU9HUVWlQGQLV (UVSUWHZLHVLFKLKU$UJZRKQO|VWH6LHEHJDQQHQ]XJODXEHQGDVLHWDWVlFKOLFK JHUHWWHWZDUHQ'LH4XOLPDQJDEHQJOXFNVHQGH/DXWHGHU%HJHLVWHUXQJYRQVLFKGLH DXV GHQ EUHLWHQ 0QGHUQ DP $QVDW] GHV %ODWWVFKlGHOV NDPHQ XQG GLH 8OXSKR VWLHHQ VFKULOOH )UHXGHQSILIIH DXV 'HP 7UXEHO GHU VLFK DQEDKQHQ ZROOWH JHERW )HOOPHU (LQKDOW LQGHP HU VLFK GXUFK GLH GLFKWJHGUlQJWH 0HQJH ]ZlQJWH XQG GLH 6FKRWWHGHU/DGHUlXPH|IIQHWH(UZLHVMHGHPVHLQHQ3ODW]DQ'LH4XOLPDQEUDFKWH HUJHWUHQQWYRQGHQ8OXSKRXQWHU 2ULVKD EDW HU PLW VLFK LQ GHQ NOHLQHQ .RQWUROOUDXP 'DV /lUPHQ GHU )DKUJlVWH YHUVWXPPWHDOVGDV6FKRWWVLFKKLQWHULKQHQVFKOR ³'XPXWLKQHQGHLQHQ1DPHQVDJHQHUNOlUWHGHU'XDUD³6LHKDEHQHLQ5HFKW]X ZLVVHQZHPVLHGDQNEDUVHLQVROOHQ ³,FK ZHUGH LKQHQ PHLQHQ 1DPHQ VDJHQ DQWZRUWHWH )HOOPHU ³1LFKW ZHJHQ GHV 'DQNHV VRQGHUQ ZHLO VLH EHUDOO LQ 'KDWDEDDU XQG VRQVWZR GDYRQ EHULFKWHQ VROOHQ GD HV :HVHQ JLEW GLH GHQ (ZLJHQ .ULHJHUQ :LGHUVWDQG OHLVWHQ XQG GHQ 6FKXW]EHGUIWLJHQKHOIHQ (U OLH VLFK LQ GHQ 3LORWHQVHVVHO IDOOHQ (V EHGXUIWH QXU HLQHV NXU]HQ YHUEDOHQ %HIHKOVXQGGDV%RRWZDUXQWHUZHJV ³/DQJHJHQXJKDVWGXJHEUDXFKWEHJUWHLKQGLH,//2DOVHUDQ2ULVKDV6HLWHGHQ .RQWUROOUDXPGHV6FKLIIHVEHWUDW³+DVWGX*LOJLGZLHGHUJHVHKHQ"
³,FKKDEHVLHJHVHKHQVDJWH)HOOPHU³,FKKDEHLKUH6SXU ³8QGZDVZLUGDXV ³'HLQH1HXJLHUGHEHIULHGLJHLFKVSlWHUILHO)HOOPHUGHU6WLPPHGHV6FKLIIHVLQV :RUW ³,FK KDEH VLHEHQXQGIQI]LJ )DKUJlVWH PLWJHEUDFKW GLH LKUH 8QWHUNQIWH DQJHZLHVHQ KDEHQ ZROOHQ (U ZHFKVHOWH YRQ 7HUUDQLVFK DXI 6RWKDON ³6SULFK PLW LKQHQLQGHU6SUDFKHGLHVLHYHUVWHKHQXQG]HLJLKQHQZRVLHHVVLFKEHTXHPPDFKHQ N|QQHQ ³:DVVLQGZLU"PXUUWHGLH,//2³(LQ7UDQVSRUWXQWHUQHKPHQIU0LQGHUEHPLWWHOWH" :LU KDEHQ NHLQHQ 3ODW] IU VLHEHQXQGIQI]LJ 3DVVDJLHUH $XHUGHP VLQG HV DFKWXQGIQI]LJZLHLFKVHKH ³8P2ULVKDNPPHUHLFKPLFKVHOEVWDQWZRUWHWH)HOOPHU³'XVLHK]XZLHGXGLH lQGHUQXQWHUEULQJVW6LHHUZDUWHQNHLQHQ.RPIRUW 'LH,//2VFKZLHJ ³'X KDVW HLQ IUHXQGOLFKHV 9HUKlOWQLV ]X GHLQHP 5DXPVFKLII VWDXQWH 2ULVKD QDFKGHPHUHLQH:HLOHJHZDUWHWKDWWHRE,//266WLPPHQRFKHWZDV]XVDJHQKlWWH ³,VWHVEHLGHQ'XDUDDQGHUV"IUDJWH)HOOPHU 2ULVKD JDE HLQHQ /DXW YRQ VLFK GHU EHL HLQLJHU 3KDQWDVLH DOV HQWVDJXQJVYROOHU 6HXI]HUJHGHXWHWZHUGHQNRQQWH ³'LH'XDUDEHWUHLEHQNHLQH5DXPIDKUWPHKUDQWZRUWHWHHU³6LHEHVFKUlQNHQVLFK DXILKUH+HLPDWZHOWXQGEHVFKlIWLJHQVLFKPLWHVFKDWRORJLVFKHU0\VWLN:LHVROOWH HVEHLHLQHPVWHUEHQGHQ9RONDQGHUVVHLQ" ³$EHUHVJLEW$XVQDKPHQEHKDUUWH)HOOPHU³'LFK]XP%HLVSLHOXQG2EHDK ³8QG QRFK HLQ SDDU DQGHUH EHVWlWLJWH 2ULVKD ³6LH IOLHJHQ LQ 6FKLIIHQ GLH DQGHUH 9|ONHU JHEDXW KDEHQ $XI XQVHUHU +HLPDWZHOW JLEW HV OlQJVW QLFKW DOOHV ZDV GLH 'XDUD ]XP /HEHQ EUDXFKHQ 9LHOH 'LQJH ZHUGHQ HLQJHIKUW 9RQ =HLW ]X =HLW ODQGHW GDV 5DXPVFKLII HLQHV +lQGOHUV DXI XQVHUHP 3ODQHWHQ RGHUHVJHKWLQHLQHQ 2UELW XQG VFKLFNW HLQH )lKUH KHUXQWHU :HU ZLOO XQG GLH 0LWWHO KDW GLH 3DVVDJH ]X EH]DKOHQNDQQPLWGHP+lQGOHUUHLVHQ 'LH,//2VWDQGQRFKLPPHULP,QQHUQGHU6RQQHQNRURQD2SWLVFKZDUGDYRQQLFKWV ]X EHPHUNHQ 'LH 0DVVHQNRQ]HQWUDWLRQ LP %HUHLFK GHU .RURQD ZDU XP HWOLFKH *U|HQRUGQXQJHQ JHULQJHU DOV GDV EHVWH PLW NRQYHQWLRQHOOHQ 0LWWHOQ LP /DERU HU]HXJEDUH9DNXXP*HOHJHQWOLFKKXVFKWHQIDKOH/HXFKWHUVFKHLQXQJHQEHUGLHJURH 9LGHRIOlFKH6LHZDUHQGDVHLQ]LJH$Q]HLFKHQGDVYHUULHWGDGDV6FKLIIVLFKQLFKWLP LQWHUVWHOODUHQ5DXPEHIDQG )HOOPHU/OR\GQDKPVLFK=HLWHLQSDDU0HJHUlWHDE]XOHVHQ(UWDWHVPHKUXPVLFK DE]XOHQNHQ 6HLQH 9HUDQWZRUWXQJ DOV 3LORW ZDU JHULQJ (U EUDXFKWH GHP 6FKLII QXU VHLQH:QVFKHPLW]XWHLOHQXQGGLH,//2EHVRUJWHDOOHVZDVGLH$VWURQDXWHQIUKHUHU (SRFKHQLP6FKZHLLKUHV$QJHVLFKWVVHOEVW]XWXQKDWWHQ 2ULVKDVFKLHQ]XVSUHQZDVLQLKPYRUJLQJ(UVSUDFKNHLQ:RUW6HLQHGUHL$XJHQ
ZDUHQDXVGUXFNVORVDXIGHQJURHQ%LOGVFKLUPJHULFKWHW ³/HJ DE ,//2 VDJWH )HOOPHU VFKOLHOLFK ³1HXHU 6WDQGRUW LUJHQGZR LP LQWHUSODQHWDULVFKHQ5DXPQDKHGHU6\VWHPJUHQ]H,FKKDEHKLHUQRFKHWZDV]XWXQ $XFKGDV6FKLIIVSUWHRIIHQEDUGDLKPHWZDVDXIGHU6HHOHODJ'LH,//2HQWKLHOWVLFK GHU VDUNDVWLVFKHQ %HPHUNXQJHQ GLH VLH VRQVW LQ HLQHU VROFKHQ 6LWXDWLRQ JHPDFKW KlWWH )HOOPHU HUNDQQWHDQGHQ,QVWUXPHQWHQGDGDV6FKLIIVLFKLQ%HZHJXQJVHW]WH 'HU 5DQG GHU 5LHVHQVRQQH 3DQJNDK GXUFK )LOWHU VRUJIlOWLJ JHGlPSIW HUVFKLHQ IU NXU]H=HLWDXIGHU%LOGIOlFKH ³6DJPLU2ULVKDEDW)HOOPHU³:DVZLUGJHVFKHKHQ" ³:HQQGXGLH%RPEH]QGHVW" ³-D 'HU'XDUDOLHVLFK=HLWPLWGHU$QWZRUW ³,FKPXPLFKZLHGHUKROHQVDJWHHUVFKOLHOLFK³,FKKDEHGLHVH:RUWHGLUJHJHQEHU VFKRQ VR RIW JHEUDXFKW GD HV PLU ZHK WXW ,FK ZHL HV QLFKW ,FK ZHL QXU GD VlPWOLFKHSVLRQLVFKHQ6SHLFKHUVLFKHQWOHHUHQZHUGHQ ³'DV )DKU]HXJ LVW PLW HLQHP OHLVWXQJVIlKLJHQ )HOGVFKLUP DXVJHVWDWWHW HUNOlUWH )HOOPHU³1HXQ]LJ3UR]HQWGHUSVLRQLVFKHQ(QHUJLHZLUGYRQLKPDEVRUELHUWZHUGHQ *ODXEVWGXHVEHVWHKW*HIDKUIUXQVHUH)DKUJlVWH" ³1DFKLKQHQIUDJVWGXDEHUQDFKGLUQLFKW"VWDXQWH2ULVKD ³$XFK QDFK GLU KDEH LFK QLFKW JHIUDJW DQWZRUWHWH GHU 0XWDQW ³:LU JODXEH LFK ZHUGHQHVVFKDIIHQ$EHUGLH4XOLPDQXQGGLH8OXSKR,FKZHLQLFKW ³'LH$QWZRUWGLHGXVXFKVWNDQQLFKGLUQLFKWJHEHQVDJWH2ULVKDHUQVW ³'X ZDUVW DQZHVHQG ZHQQ GLH 6LUHQH LKUH /RFNUXIH DXVVWUDKOWH *HZDOWLJH 0HQJHQDQSVLRQLVFKHU(QHUJLHZXUGHQGDEHLIUHLJHVHW]W:LHZLUNWHHVVLFKDXV" ³.XU] EHYRU GLH 6LUHQH LQ 7lWLJNHLW WUDW DQWZRUWHWH GHU 'XDUD ³ZDU HLQ :DUQVLJQDO]XK|UHQ0LUZDUEHIRKOHQGDIU]XVRUJHQGDVLFK]XGLHVHU=HLWNHLQ %HZXWVHLQLQHLQHPGHU*HIDQJHQHQN|USHUEHIDQG$XHUGHPVROOWHLFKVHOEVWGDV SVLRQLVFKH/DQGDXIVXFKHQ ³'DVSVLRQLVFKH/DQGVFKW]WYRUGHQ$XVZLUNXQJHQGHUSVLRQLVFKHQ6HQGXQJ" ³6RPXHVVHLQVDJWH2ULVKD³.HLQHUYRQXQVKDWMHHWZDVEHPHUNW )HOOPHU/OR\GEHUOHJWHDQJHVWUHQJW'DV5LVLNRGDVHUHLQJHKHQZROOWHVFKLHQLKP DN]HSWDEHO(U]QGHWHGHQ6SUHQJN|USHUDXVHLQHU'LVWDQ]YRQ]ZHL/LFKWVWXQGHQ 'LH IUHLJHVHW]WH SVLRQLVFKH (QHUJLH ZUGH VLFK YRQ GHU 6LUHQH DXVEUHLWHQ LKUH ,QWHQVLWlW VLFK XPJHNHKUW SURSRUWLRQDO ]XP 4XDGUDW GHV $EVWDQGV YHUULQJHUQ +LQ]X NDP GDV 6FKLUPIHOG 'LH JHULQJH /HLVWXQJ GLH LQ ]ZHL 0LOOLDUGHQ .LORPHWHUQ $EVWDQG YRQ GHU 4XHOOH QRFK EULJEOLHE ZUGH GXUFK GDV )HOG XP HLQHQZHLWHUHQ)DNWRU]HKQJHGlPSIWZHUGHQ (UNRQQWHHVVLFKOHLVWHQ (U]RJGHQNOHLQHQ+\SHULPSXOVJHEHUDXVGHU7DVFKH(UZRJLKQLQGHU+DQGVWHWV EHVRUJWGLHNOHLQHURWOHXFKWHQGH.RQWDNWIOlFKHQLFKW]XEHUKUHQ
³,VWGDVGHU$XVO|VHU"IUDJWH2ULVKD ³-DVDJWH)HOOPHU/OR\G 'DQQGUFNWHHU]X (VWUDILKQZLHHLQ)DXVWVFKODJ 'DV %LOG HLQHV KXPDQRLGHQ :HVHQV HUVFKLHQ YRU LKP HLQ lOWHUHU 0DQQ YRQ ZUGHYROOHPbXHUHPPLWHLQHPIUHXQGOLFKHQ/lFKHOQ'DV%LOGZDUULHVHQJUR (VVFKLHQGHQJDQ]HQ5DXPDXV]XIOOHQ'LH/LSSHQGHV0DQQHVEHZHJWHQVLFK(U VSUDFK $EHU )HOOPHU K|UWH NHLQHQ /DXW 'LH DNXVWLVFKH ,QIRUPDWLRQ ZDU YHUORUHQJHJDQJHQ 'HU DOWH 0DQQ YHUVFKZDQG $Q VHLQHU 6WHOOH HUVFKLHQ HLQH OLHEOLFKH /DQGVFKDIW JUQH :LHVHQ XQG :DOGIOlFKHQ VDQIWH +JHO XQG DXI GHQ .XSSHQ GHU +JHO ZHLH*HElXGH:RKQKlXVHUGLHGHQ%HWUDFKWHUHLQ]XODGHQVFKLHQHQ(LQGXPSIHV 'U|KQHQ ZDU ]X K|UHQ 'DV %LOG YHUVFKZDPP (LQH *UXSSH YRQ :HVHQ XQWHUVFKLHGOLFKHU+HUNXQIWHUVFKLHQ6LHVWDQGHQLP.UHLVXQGGLVNXWLHUWHQ(VZDU HLQH IUHXQGOLFKH 'LVNXVVLRQ 'DV 'U|KQHQ HUORVFK 'HU NUDFKHQGH 'RQQHU HLQHU ([SORVLRQZDU]XK|UHQ (LQH1RYDIODPPWHLPZHLHQ+LPPHOHLQHUXQEHNDQQWHQ:HOW:lOGHUEUDQQWHQ 'LH 6WlGWH ZDUHQ YRQ 4XDOP HUIOOW *HVFK|SIH GLH )HOOPHU DQ 'RRUL HULQQHUWHQ ODJHQ]X7DXVHQGHQUHJORVDXIGHQ6WUDHQ$XVLKUHQYHUVHQJWHQ*HZlQGHUQVWLHJHQ GQQH 5DXFKIDKQHQ (LQ VWHUEHQGHU 3ODQHW 'LH +LW]H GHU H[SORGLHUHQGHQ 6RQQH ZUGHLKQYHUVFKOLQJHQ,P+LQWHUJUXQGHUW|QWHHLQH6WLPPH ³:HQQGXGHQ)ULHGHQVXFKVW)UHPGHUODPLFKGLUGHQ:HJ]HLJHQ (LQ%LOGQDFKGHPDQGHUHQKXVFKWHDQ)HOOPHUYRUEHL(VZDUHLQHZLUUH0LVFKXQJ YRQ (LQGUFNHQ (PRWLRQHQ XQG *HUlXVFKHQ 'HQ ZUGHYROOHQ 0DQQ EHNDP HU QRFK HLQ SDDUPDO ]X VHKHQ (U PXWH LP 5HSHUWRLUH GHU 6LUHQH HLQH JURH 5ROOH JHVSLHOW KDEHQ 'LH 0HKU]DKO GHU (PRWLRQHQ GLH )HOOPHU UHJLVWULHUWH ZDUHQ SRVLWLYHU$UW)UHXGH*OFN(UO|VXQJ$EHUHVJDEDXFK6LJQDOHGHU$QJVWXQGGHV 6FKPHU]HV(UVDK6]HQHQGHU9HUZVWXQJ(UVDKGLH6FKUHFNHQGHV.ULHJHV(UVDK 7RG XQG 9HUVWPPHOXQJ (U VDK DXFK %LOGHU YRQ SULPLWLY YHUORFNHQGHP &KDUDNWHU HLQH2UJLHXQWHU+XPDQRLGHQHLQH0DVVHQSDDUXQJHFKVHQKDIWHU:HVHQ8QGPLWWHQ LQ HLQHU 6]HQH GLH HLQH YRQ 7ULFKWHUQ EHUVlWH /DQGVFKDIW PLW GHQ 'DPSISLO]HQ QXNOHDUHU'HWRQDWLRQHQLP+LQWHUJUXQG]HLJWHYHUNQGHWHGLH6WLPPH ³1LFKW QXU IU GHQ *HLVW LVW JHVRUJW DXFK DQ GHQ .|USHU LVW JHGDFKW 'HLQH ZLOGHVWHQXQJH]JHOWVWHQ7UlXPHODVVHQVLFKYHUZLUNOLFKHQ )HOOPHU HQWVSDQQWH VLFK (U VSUWH GD LKP GHU :LUUZDUU GHU SVLRQLVFKHQ ,PSXOVH QLFKWV DQKDEHQ NRQQWH 'LH 6LUHQH HQWOHHUWH LKUH 6SHLFKHU $OOHV ZDV MHPDOV ]XU 9HUORFNXQJXQVFKXOGLJHU*lQJHUGHV1HW]HVDXIJH]HLFKQHWXQGDXVJHVWUDKOWZRUGHQ ZDUKXVFKWHLQXQJHRUGQHWHUFKDRWLVFKHU)ROJHDQLKPYRUEHL'LH,PSXOVHZDUHQ ]XVFKZDFKDOVGDVLHVHLQHP%HZXWVHLQKlWWHQ6FKDGHQ]XIJHQN|QQHQ8QG GLH /RFNXQJ H[LVWLHUWH QLFKW PHKU ZHLO GLH %LOGHU DXV GHP =XVDPPHQKDQJ
JHULVVHQZDUHQ (UZXWHQLFKWZLHYLHO=HLWYHUJDQJHQZDUDOVGLH)OXWGHUSVLRQLVFKHQ(LQGUFNH VFKOLHOLFK YHUHEEWH 1RFK HLQPDO HUVFKLHQ GHU ZUGHYROOH 0DQQ 'LHVPDO ZDUHQ 7RQXQG%LOGV\QFKURQ)HOOPHUK|UWHGHQ$OWHQVDJHQ ³'X]|JHUVW"'DVLVWYHUVWlQGOLFK$EHUODGLUHUNOlUHQ 'DQQZDUHVVWLOO'DVOHW]WH%LOGZDUHUORVFKHQ)HOOPHUV%OLFNNOlUWHVLFK(UVDK DXI GLH 8KU )DVW HLQH KDOEH 6WXQGH ODQJ KDWWH VLFK GHU 6WURP SVLRQLVFKHU ,PSXOVH EHU LKQ HUJRVVHQ -HW]W ZDUHQ GLH 6SHLFKHU GHU 6LUHQH OHHU 0LW GHU XQPHEDUHQ *HVFKZLQGLJNHLW K\SHUHQHUJHWLVFKHU :HOOHQ KDWWH VLFK LKU ,QKDOW GXUFK GDV $OO DXVJHEUHLWHWXQG.XQGHYRQGHP(UHLJQLVJHEUDFKWGDVGDV$XJHHUVWQDFK$EODXI YRQ]ZHL6WXQGHQZDKUQHKPHQZUGH 2ULVKDGHUGLHJDQ]H=HLWEHUUHJORVJHVWDQGHQKDWWHVHW]WHVLFKLQ%HZHJXQJXQG NDPPLWOHLVHWDSSHQGHQ6FKULWWHQQlKHU ³'DV ZDU ]X HUWUDJHQ VDJWH HU ³,FK GHQNH XQVHUH *lVWH ZHUGHQ HV EHUVWDQGHQ KDEHQ8QGGDQQHLQSDDU6HNXQGHQVSlWHUIUDJWHHU³:DVKDVWGXMHW]WYRU" ³:DUWHQDQWZRUWHWH)HOOPHU/OR\G ³,FKYHUVWHKHVDJWH2ULVKD³(VJHKWQLFKWVEHUGLH%HVWlWLJXQJGXUFKGDV$XJH (U |IIQHWH GDV 6FKRWW XQG JLQJ KLQDXV 'UDXHQ ZDU HV UXKLJ JHZRUGHQ (LQ SDDU 0LQXWHQVSlWHUNHKUWHHU]XUFN ³'LH SVLRQLVFKH 9HUZLUUXQJ KDW XQVHUH )DKUJlVWH HUVFK|SIW HUNOlUWH HU ³6LH VFKODIHQIDVWDOOH )HOOPHUQLFNWH(UKDWWHGLH%HLQHZHLWYRQVLFKJHVWUHFNWXQGZDQGWHGHQ%OLFNQLFKW YRQ GHU JURHQ 9LGHRIOlFKH GLH GLH 6WHUQH GHU *DOD[LV 'KDWDEDDU ]HLJWH XQG LP 0LWWHOSXQNW GHV %LOGHV HLQHQ NUlIWLJHQ RUDQJHIDUEHQHQ /LFKWIOHFN GHQ 3ODQHWHQ EHU GHP GLH 5DXPVWDWLRQ VFKZHEWH *HVFKZHEW KDWWH 3DQJNDK VWDQG KLQWHU GHP $XIQDKPHJHUlWXQGZDUDXVJHEOHQGHW1LFKWVEHHLQWUlFKWLJWHGLH6LFKW 'LH 0LQXWHQ VWULFKHQ ODQJVDP GDKLQ )HOOPHU ZDU VHLQHU 6DFKH VLFKHU $OV HU GHQ 'DXPHQ DXI GLH NOHLQH URWH .RQWDNWWDVWH GHV $XVO|VHUV OHJWH ZDU HLQ NUlIWLJHU +\SHULPSXOV HU]HXJW ZRUGHQ XQG KDWWH VLFK DXVJHEUHLWHW 1DFK HLQHU XQPHEDU NXU]HQ=HLWVSDQQHKDWWHHUGLH6LUHQHHUUHLFKWXQGLP,QQHUQGHV6SUHQJN|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|HUHV*HELOGHDOVGLHFKDU\EGLVFKH5DXPVWDWLRQ ]XDWRPLVLHUHQ
,QGLHVHU6HNXQGHVFKULOOWHLUJHQGZRLPULHVLJHQ5HLFKGHV(ZLJHQ.ULHJHUV.URYRU GHU$ODUP(LQH6LUHQHZDUYHUQLFKWHWZRUGHQ:LH.URYRUGDUDXIUHDJLHUHQZUGH" +DWWH HU GDPLW JHUHFKQHW GD HV ]X HLQHU VROFKHQ (QWZLFNOXQJ NRPPHQ N|QQWH" )DVW ZDU )HOOPHU /OR\G JHQHLJW GLH )UDJH ]X EHMDKHQ (U KDWWH PLW HLQHPPDO GDV XQDQJHQHKPH*HIKODOOHVZDVHUELVKHUJHWDQKDEHVHLYRQ.URYRUYRUJHSODQW (UZLVFKWHGHQ*HGDQNHQEHLVHLWH.URYRUZXWHGDHUNDP(UKDWWH GXUFK VHLQH $JHQWHQ DXI 0HGLGRRU LQ (UIDKUXQJ EULQJHQ ODVVHQ GD HLQHU DXI GHP :HJ QDFK 'KDWDEDDU ZDU XQG VLFK IU GLH JHIDQJHQH )UVWLQ *LOJLG LQWHUHVVLHUWH (V ZDU )HOOPHUV HLJHQHU (QWVFKOX JHZHVHQ HLQ ]XVlW]OLFKHV 6LJQDO ]X VHW]HQ 1LFKW YHUVWRKOHQ XQG KHLPOLFK ZROOWH HU VLFK LQ .URYRUV /DJHU VFKOHLFKHQ 2IIHQ XQG DXIUHFKW ZROOWH HU GDKHUNRPPHQ GHP .ULHJHU HEHQEUWLJ HLQHU GHU GDV 5HFKW KDWWH GHQ +HUUQ YRQ 'KDWDEDDU KHUDXV]XIRUGHUQ 'HU ([SORVLRQVEOLW] GHU 6LUHQH VROOWHGDV)DQDOVHLQGDV.URYRUZLVVHQOLH'XVROOVWDXIGHU+XWVHLQ )DVW DXI GLH 6HNXQGH JHQDX ]ZHL 6WXQGHQ QDFKGHP )HOOPHU /OR\G GDV URWH .RQWDNWSOlWWFKHQGHV6LJQDOJHEHUVEHUKUWKDWWHQDKPGDVRUDQJHURWH/HXFKWHQGHV IHUQHQ3ODQHWHQHLQHQQHXHQ)DUEWRQDQ(VYHUZDQGHOWHVLFKLQJUHOOHVEOlXOLFKHV :HL (LQ *OXWEDOO PLW LQIHUQDOLVFKHQ 7HPSHUDWXUHQ HQWVWDQG EOlKWH VLFK DXI XQG VDQN ZLHGHU LQ VLFK ]XVDPPHQ 'DV /HXFKWHQ ZXUGH VFKZlFKHU XQG HLQ SDDU 0LQXWHQVSlWHUZDUGDV3KlQRPHQYHUVFKZXQGHQ'HURUDQJHIDUEHQH/LFKWIOHFNGHV gGSODQHWHQ VWDQG XQEHLUUW YRU GHP VFKZDU]HQ +LQWHUJUXQG GHV $OOV (U ZUGH ZHLWHUKLQVHLQH%DKQ]LHKHQXQEHLUUWGDYRQGDGDVPDVVLYH2EMHNWGDVLKQELVKHU XPNUHLVWKDWWHQLFKWPHKUH[LVWLHUWH )HOOPHU/OR\G]RJVHXI]HQGGLH%HLQHDQXQGVWDQGDXI ³(VLVWYROOEUDFKWVDJWH2ULVKDIHLHUOLFK )HOOPHUQLFNWH ³-DGDVLVWHV8QGIUXQVZLUGHV=HLW]XP$XIEUXFK $XI GHP :HJ QDFK %DNXPSDL JHVFKDK HV ]XP ]ZHLWHQPDO (U K|UWH LKUH *HGDQNHQVWLPPH +HOIW PLU ,FK ELQ *LOJLG .URYRU KlOW PLFK JHIDQJHQ XP PHLQ 9RON ]X HUSUHVVHQ +HOIWPLU (UZDUVHLQHU6DFKHJDQ]VLFKHU(VZDULKUH6WLPPHNHLQH)lOVFKXQJ6RKDWWHHU VLHGDPDOVLQGHQ0DUVFKHQYRQ/HXNDJHK|UWQXUZHVHQWOLFKVFKZlFKHU(UZDULKU MHW]WQlKHU (UKDWWHGLH$XJHQJHVFKORVVHQXQGPDOWHLP*HLVWLKU%LOGGHQVFKODQNHQ.|USHU GHVVHQ)RUPHQLQGHU+OOHGHVZHLHQ*HZDQGVQXUDQJHGHXWHW]XU*HOWXQJNDPHQ GHQ 0XQG PLW GHQ YROOHQ /LSSHQ GLH JURHQ GXQNOHQ $XJHQ GLH KHUUOLFKH )OOH EUDXQHQ+DDUHV(UVHKQWHVLFKQDFK*LOJLGXQGGLH6HKQVXFKWZDUVRVWDUNGDHU VLHDXIGHU=XQJH]XVSUHQJODXEWH (UIUDJWHVLFKRE.URYRUZRKOZXWHGDVHLQH*HIDQJHQHXP+LOIHULHI*HZLGRFK
'HP0HLVWHUGHV3VLRQVHQWJLQJHQVROFKH'LQJHQLFKW:DUXPEUDFKWHHU*LOJLGQLFKW ]XP 6FKZHLJHQ" $Q ZHQ ZDUHQ *LOJLGV 5XIH EHUKDXSW JHULFKWHW" (V JHK|UWH WHOHSDWKLVFKH%HJDEXQJGD]XLKUH*HGDQNHQ]XHPSIDQJHQ $Q GLHVHP $EHQG DXI GHU 5HLVH QDFK %DNXPSDL GDV 6FKLII KDWWH GLH /LFKWHU JHGlPSIW GLH 4XOLPDQ XQG GLH 8OXSKR VFKOLHIHQ LQ GHU *HZLKHLW GD VLH LQ IQI]HKQ 6WXQGHQ DP =LHO VHLQ ZUGHQ XQWHUKLHOW VLFK )HOOPHU /OR\G PLW 2ULVKD EHUGDV9RONGHU.LRMD ³,FK KDEH HUIDKUHQ VDJWH HU ³GD GLH .LRMD GDQDFK VWUHEHQ LKUH N|USHUOLFKH 'DVHLQVIRUP DXI]XJHEHQ XQG HLQ UHLQ JHLVWLJHV *HPHLQVFKDIWVZHVHQ ]X ELOGHQ :DV ZHLWGXGDYRQ" ³'LH .LRMD VLQG HLQ XUDOWHV 9RON QRFK lOWHU DOV GLH 'XDUD DQWZRUWHWH 2ULVKD EHGlFKWLJ ³6LH KDEHQ DOOH 3KDVHQ GHU (QWZLFNOXQJ GXUFKODXIHQ XQG QlKHUQ VLFK GHP(QGHGHVPDWHULHOOHQ'DVHLQV'HQ'XDUDJHJHQEHUKDEHQVLHGHQ9RUWHLOGD VLH ]DKOUHLFKHU VLQG 'LH .LRMD KDEHQ LP /DXI LKUHU ODQJHQ *HVFKLFKWH EHGHXWHQGH JHLVWLJH )lKLJNHLWHQ HQWZLFNHOW 6LH EHKHUUVFKHQ HLQHQ *URWHLO GHV SVLRQLVFKHQ 6SHNWUXPV QLFKW GXUFK 0DVFKLQHQ ZLH .URYRU HV WXW VRQGHUQ PLW GHU .UDIW LKUHV %HZXWVHLQV)UVLHLVWHVHLQQDWUOLFKHU:XQVFKGDVSK\VLVFKH(QGHLKUHU6SH]LHV ]XEHUOHEHQXQGDOV*HLVWZHVHQZHLWHU]XH[LVWLHUHQ'HQQGHU*HLVWLVWXQVWHUEOLFKXQG GLH.LRMDVLQGGHU$QVLFKWGDVLHGHU:HOWQRFKYLHOJHEHQN|QQHQZHQQVLHVLFKGXUFK 9HUJHLVWLJXQJGHP8QWHUJDQJHQW]LHKHQ ³.DQQHVVHLQGD*LOJLGGDPLWUHFKQHWYRQLKUHPHLJHQHQ9RONJHK|UW]XZHUGHQ" IUDJWH)HOOPHU ³,FK KDOWH HV IU GXUFKDXV P|JOLFK DQWZRUWHWH 2ULVKD ³6LH VSULFKW GLH .LRMD QLFKW GLUHNWDQ$EHUZHUVRQVWVROOWHLQGHU/DJHVHLQLKUH*HGDQNHQ]XHPSIDQJHQ"+LHUHLQ 7HOHSDWKGRUWHLQ3VL6SH]LDOLVWJHZL$EHULQJURHP0DVWDELVWGLH)lKLJNHLW GLH*HGDQNHQHLQHVDQGHUHQ:HVHQV]XK|UHQQXUXQWHUGHQ.LRMDYHUEUHLWHW ³'DV HUNOlUW VDJWH )HOOPHU ³ZDUXP .URYRU VLH XQJHVW|UW UXIHQ OlW $XI GLHVH :HLVH HUIDKUHQ GLH .LRMD YRQ LKUHP 6FKLFNVDO XQG VLH VSUHQ GLH 9HU]ZHLIOXQJ LQ LKUHQ*HGDQNHQ.URYRUHUVSDUWVLFKODQJH(UNOlUXQJHQXQGMH|IWHUGLH.LRMD*LOJLGV 5XI K|UHQ GHVWR PHKU ZHUGHQ VLH EHUHLW VHLQ DXI GLH )RUGHUXQJHQ GHV .ULHJHUV HLQ]XJHKHQ ³,FK JODXEH GX KDVW .URYRUV 7DNWLN UHFKW JXW GXUFKVFKDXW PHLQWH 2ULVKD ³(V NRPPWQRFKHLQDQGHUHU$VSHNWKLQ]X)UVWLQRGHU)UVWZLUGEHLGHQ.LRMDQXUZHU EHU EHVRQGHUV KRFKHQWZLFNHOWH JHLVWLJH *DEHQ YHUIJW :HQQ GLH .LRMD LKUH N|USHUOLFKH 'DVHLQVIRUP DXIJHEHQ XQG ]XP JHLVWLJHQ *HPHLQVFKDIWVZHVHQ ZHUGHQ PXGLH)UVWLQGLH7UDQVIRUPDWLRQHLQOHLWHQ2KQH*LOJLGN|QQHQGLH.LRMDLKU=LHO QLFKWHUUHLFKHQ ³:DUXPKDEHQVLHGDQQQLFKWVFKRQOlQJVWQDFKJHJHEHQ" ³$XV3ULQ]LSQHKPHLFKDQDQWZRUWHWHGHU'XDUD³6LHZROOHQVLFKQLFKWHUSUHVVHQ ODVVHQ ³$XV 3ULQ]LS ZROOHQ VLH LKUHQ (QWZLFNOXQJVSODQ DXIJHEHQ" IUDJWH )HOOPHU
XQJOlXELJ 2ULVKDV$XJHQEOLQ]HOWHQOXVWLJ ³2K QHLQ 6LH ZDUWHQ RE VLFK HLQH DQGHUH 0|JOLFKNHLW HUJLEW :HQQ QLFKW GDQQ ZHUIHQVLHGDV3ULQ]LSEHU%RUGXQGJHKHQ]XP6FKHLQDXI.URYRUV)RUGHUXQJHQ HLQ ³=XP6FKHLQ" ³'LH.LRMDVLQGIOFKWLJZLHGHU'DPSIGHVbWKHUVVDJWH2ULVKD³6HOEVWZHQQVLH .URYRUQDFKJHEHQZLUGGHU.ULHJHUVLHQLFKWKDOWHQN|QQHQ(LQHV7DJHVZLUGPDQ VLHQLFKWPHKUILQGHQ'DQQVLQGVLH]XP*HLVWZHVHQJHZRUGHQ )HOOPHU /OR\G GDFKWH ODQJH EHU GLHVH :RUWH QDFK (V ZDU LKP PLWWOHUZHLOH NHLQ *HKHLPQLVPHKUGDHU*LOJLGOLHEWH'LH9RUVWHOOXQJGDVLHVLFKXQPLWWHOEDUQDFK LKUHU%HIUHLXQJLQHLQ*HLVWZHVHQYHUZDQGHOQN|QQHZDULKPQLFKWV\PSDWKLVFK 3O|W]OLFKNDPLKPHLQDQGHUHU*HGDQNH ³6DJPLUIRUGHUWHHU2ULVKDDXI³:DVZHLWGXEHU.ZDQDQGXU" ³2KPDFKWHGHU'XDUD³9RQLKPKDVWGXDXFKVFKRQJHK|UW" ³-D:HULVWHU" ³.URYRUV UHFKWH +DQG GDV JHKHLPQLVYROOVWH *HVFK|SI LQ JDQ] 'KDWDEDDU 1LHPDQG DXHU.URYRUZHLZLHHUDXVVLHKW8QWHUGHP'HFNPDQWHOVHLQHU,GHQWLWlWVORVLJNHLW LVW .ZDQDQGXU VWlQGLJ XQWHUZHJV LPPHU LP $XIWUDJ VHLQHV .ULHJHUV :R KDVW GX YRQLKPHUIDKUHQ" ³$XI0HGLGRRULQGHU*DOD[LV(UHQG\UDDQWZRUWHWH)HOOPHU³.ZDQDQGXUKDWGRUW VHLQH 6SLW]HO VLW]HQ 6LH ZROOWHQ PLFK HLQIDQJHQ XQG LKP EHU PLFK EHULFKWHQ QDFKGHPVLHHUIDKUHQKDWWHQGDLFK,QIRUPDWLRQHQEHU*LOJLGVXFKWH 2ULVKDV$XJHQYHUULHWHQ%HVRUJQLV ³'DQQZLUVWGXHVPLWLKP]XWXQEHNRPPHQVDJWHHU³1LPPGLFKLQDFKW ³9RU.ZDQDQGXUPHKUDOVYRUGHP(ZLJHQ.ULHJHU"IUDJWH)HOOPHUVS|WWLVFK ³'HQ.ULHJHUHUNHQQVWGXZDUQWH2ULVKD³(UWULWWYRUGLFKKLQXQGGXZHLWZHQ GX YRU GLU KDVW .ZDQDQGXU NDQQ VWXQGHQODQJ DQ GHLQHU 6HLWH JHKHQ XQG GX HUNHQQVWLKQQLFKW %DNXPSDL ZDU HLQH )UHLKDQGHOVZHOW LQPLWWHQ HLQHV JURHQ RIIHQHQ 6WHUQKDXIHQV GHUVHLQH3RVLWLRQHWZDLQGHU0LWWHGHV7DOXN$UPHVGHU*DOD[LV'KDWDEDDUKDWWH 'KDWDEDDU ZDU HLQH *DOD[LV YRP 7\S 6F PLW VFKZDFK DXVJHSUl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|ULJHQ YHUVFKLHGHQHU9|ONHUEHVLHGHOWZRUGHQ'LH6LHGOHUKDWWHQHLQH=HLWODQJPLWHLQDQGHU
JHUDXIW 'DQQ ZDU .URYRU DXI %DNXPSDL DXIPHUNVDP JHZRUGHQ XQG KDWWH IU )ULHGHQ JHVRUJW (LQH ]HQWUDO JHOHJHQH +DQGHOVZHOW ZDU IU LKQ ZLFKWLJ ,QGHP HU VLFK VR JXW ZLH QLH LQ GLH LQWHUQHQ $QJHOHJHQKHLWHQ GHU +lQGOHU HLQPLVFKWH YHUPLWWHOWH HU LKQHQ HLQ *HIKO GHU 8QDEKlQJLJNHLW )OFKWHQGH KLQWHU GHQHQ GHV .ULHJHUV+lVFKHUKHUZDUHQEHWUDFKWHWHQ%DNXPSDLDOVVLFKHUHQ+DIHQLQGHPVLH VLFK YHUVWHFNHQ NRQQWHQ $EHU .URYRU KDWWH VHLQH $JHQWHQ DXI GHU :HOW GHU +lQGOHU6LHKDWWHQKLHUVFK|QPDQFKZHUWYROOHQ)DQJJHPDFKW )HOOPHU/OR\GKDWWHGLH,//2LQHLQHGHU]DKOUHLFKHQ2UELWDOHEHQHQJHVWHXHUWDXI GHQHQ7DXVHQGHYRQ)HUQUDXPVFKLIIHQGLH:HOW%DNXPSDLXPNUHLVWHQ$OV*lQJHU GHV1HW]HV]|JHUWHHUVRQVWVHLQ6FKLIILQGHUgIIHQWOLFKNHLWVHKHQ]XODVVHQ$EHU KLHU ZDU GLH =DKO GHU XQWHUVFKLHGOLFKHQ )DKU]HXJW\SHQ VR EHUZlOWLJHQG GD QLHPDQGGHP6FKLIIGHV1HW]JlQJHUV%HDFKWXQJVFKHQNWH )HOOPHU VHOEVW KDWWH GLH 8OXSKR XQG GLH 4XOLPDQ PLW GHP %HLERRW DXI HLQHP GHU IQI JURHQ 5DXPKlIHQ YRQ %DNXPSDL DEJHVHW]W 2ULVKD KDWWH LKQHQ HLQ SDDU 7DXVFKJWHUPLWJHJHEHQIUGLHVLHGDV*HOGHLQKDQGHOQNRQQWHQGDVVLH]XP%XFKHQ YRQ3DVVDJHQEUDXFKWHQ$OVVLHHLQHUQDFKGHPDQGHUHQDXVGHP%RRWNOHWWHUWHQ ZROOWHQLKUH'DQNHVEH]HLJXQJHQNHLQ(QGHQHKPHQ)HOOPHUZLQNWHODFKHQGDEXQG ULHWLKQHQ]X ³6HKW]XGDLKU'KDWDEDDUVRUDVFKZLHP|JOLFKKLQWHUHXFKODW8QGVRODQJHLKU QLFKWLQ6LFKHUKHLWVHLGHU]lKOWNHLQHPZRKHULKUNRPPW )HOOPHU KDWWH LQ]ZLVFKHQ IHVWJHVWHOOW GD GDV 6WHUQV\VWHP ]X GHP %DNXPSDL JHK|UWH LP (LQIOXEHUHLFK HLQHV 3UlIHUHQ]VWUDQJV ODJ (U NRQQWH GLH +DQGHOVZHOW DOVR 9RQ HLQHP EHOLHELJHQ 2UW DXV PLW GHU 0HWKRGH GHV SHUV|QOLFKHQ 6SUXQJHV HUUHLFKHQ 'LH )UDJH ZDU RE LKP DXFK GLH 5DXPIHVWXQJ 9DWRPDQGU\ GHUDUW XQEHVFKZHUWHQ=XWULWWJHZlKUHQZUGH(UPXWHPLW2ULVKDGDUEHUVSUHFKHQ'HU 'XDUDNDQQWHGLH6WDQGRUWNRRUGLQDWHQGHU)HVWXQJ (UEXJVLHUWHGDV%RRWLQGHQ+DQJDUXQGJLQJ]XP.RQWUROOUDXP(LQHODXWH6WLPPH VFKROOLKPHQWJHJHQDEHUVLHYHUVWXPPWHEHYRUHUGHQ6FKRWWGXUFKJDQJHUUHLFKWH ³,FKKDEHPLUHUODXEW1DFKULFKWHQ]XK|UHQHUNOlUWH2ULVKD³(VJHVFKHKHQJDQ] HUVWDXQOLFKH 'LQJH ,FK PX VDJHQ PDQ HPSIlQJW GLFK LQ :UGHQ PHLQ )UHXQG )HOOPHU 'HU7HUUDQHUJULQVWHLKQDQ ³9LHOOHLFKWHUNOlUVWGXPLUGDVVFKOXJHUYRU ³$XIGHU)HVWXQJ9DWRPDQGU\ILQGHWHLQJURHV9RONVIHVWVWDWWZLH.URYRUVLHLQ UHJHOPlLJHQ $EVWlQGHQ RUJDQLVLHUW $OOH 8QWHUWDQHQ GHV (ZLJHQ .ULHJHUV VLQG HLQJHODGHQ VRZHLW VLH LKUH 3DVVDJH VHOEVW ILQDQ]LHUHQ N|QQHQ 6LH VLQG DXIJHIRUGHUW VLFK EHOXVWLJHQ ]X ODVVHQ XQG JODXE PLU 'HU %HOXVWLJXQJHQ JLEW HV YLHOH DXI 9DWRPDQGU\ 6FKHLQZHOWHQ LQ GHQHQ HV $EHQWHXHU ]X EHVWHKHQ JLOW 7UDXPZHOWHQ LQ GHQHQ GLH JHKHLPVWHQ :QVFKH ZDKU ZHUGHQ 6FKDXNlPSIH HFKW XQGSVLRQLVFK:HWWVSLHOH6SLHOHXP*HOG$XVIOJHLQGLH9HUJDQJHQKHLWRGHULQGLH
=XNXQIW 'HQN GLU LUJHQGHLQH $UW GHU 9HUJQJXQJHQ DXV XQG VHL YHUVLFKHUW GD HV VLHDXI9DWRPDQGU\JLEW ³,FK ZXWH QLFKW GD DXI 9DWRPDQGU\ )HVWH YHUDQVWDOWHW ZXUGHQ VDJWH )HOOPHU YHUZXQGHUW ³,FK GDFKWH 9DWRPDQGU\ VHL HLQ :HOWUDXPIRUW LQ GHP .URYRU VLFK YHUVFKDQ]WZHQQHUYRQ*HJQHUQEHGUlQJWZLUG 2ULVKDJDEHLQH5HLKHJOXFNVHQGHU/DXWHYRQVLFK ³:HU VROOWH GHQ (ZLJHQ .ULHJHU EHGUlQJHQ 'X KDVW UHFKW 9DWRPDQGU\ LVW HLQH )HVWXQJ1LHPDQGILQGHWGRUW=XWULWWGHQ.URYRUQLFKWHLQJHODGHQKDW'LH=HLWGHV 9RONVIHVWV LVW HLQH $XVQDKPH'DNDQQMHGHUNRPPHQ$EHUGXNDQQVWVLFKHUVHLQ GD.URYRUV6SLW]HOHLQVFKDUIHV$XJHDXIMHGHQ%HVXFKHUKDEHQGHULKQHQQXUGHQ JHULQJVWHQ$QOD]X0LWUDXHQELHWHW ³*XW VDJWH )HOOPHU ³:DV KDW GDV GDPLW ]X WXQ GD LFK LQ :UGHQ HPSIDQJHQ ZHUGH" ³.URYRU RUJDQLVLHUW GLHVH )HVWH LQ UHJHOPlLJHQ $EVWlQGHQ HWZD DOOH GUHL 6WDQGDUGMDKUH HVWDUWLVFKHU =HLWUHFKQXQJ :R]X .URYRU GDV WXW ZHL LFK QLFKW 9LHOOHLFKW ZLOO HU $EWUQQLJH IDQJHQ GLH GLH *HOHJHQKHLW EHQW]HQ VLFK LP 7UXEHO GHV )HVWHV DQ %RUG HLQHU VHLQHU )HVWXQJHQ ]X VFKOHLFKHQ 9LHOOHLFKW JODXEW HU DXFK ZLUNOLFKVROFKH'LQJHWUJHQ]XVHLQHU%HOLHEWKHLWEHL,FKZHLZLUNOLFK ³'XNRPPVWYRP7KHPDDEHUPDKQWHLKQ)HOOPHU ³5LFKWLJ 1XQ GDV OHW]WH )HVW DXI 9DWRPDQGU\ KDW YRU NQDSS HLQHP -DKU VWDWWJHIXQGHQ )HOOPHU/OR\GZDUQDFKGHQNOLFKJHZRUGHQ ³8QGGXPHLQVWVDJWHHUQDFKHLQHU:HLOH³.URYRUDUUDQJLHUWGDV)HVWQXUXPPLU GHQ=XJDQJ]XVHLQHU)HVWXQJ]XHUOHLFKWHUQ" ³.DQQVW GX GLU HLQHQ DQGHUHQ *UXQG GHQNHQ" IUDJWH 2ULVKD ³,Q GHQ 1DFKULFKWHQ ZDUNHLQ:RUWYRQGHU=HUVW|UXQJGHU6LUHQH]XK|UHQ'DVKlOWGHU.ULHJHUYRUHUVW QRFKJHKHLP(UVWZHQQHUGLFKKDWZLUGHUHVYHUNQGHQ6HKWKHU ZLUGHUVDJHQ 6RJHKWHVDOOHQGLHVLFKDP(LJHQWXPGHV(ZLJHQ.ULHJHUVYHUJUHLIHQ 8QGKlOW GHLQH/HLFKHYRUGLH/LQVHQGHV$XIQDKPHJHUlWV ³'DQNH VSRWWHWH GHU 0XWDQW ³,FK ZHL PLU GHLQH SODVWLVFKHQ 6FKLOGHUXQJHQ ]X VFKlW]HQ ³2KELWWH0LULVWQXUGDUXP]XWXQGLFKDXIGLH*HIDKUHQDXIPHUNVDP]XPDFKHQ GLHGLFKHUZDUWHQZHQQGXZLUNOLFKQDFK9DWRPDQGU\UHLVHQZLOOVW ³'DVZLOOLFKEHVWlWLJWH)HOOPHU³$EHUGD]XPXLFKHLQLJHVZLVVHQ,FKKRIIHGX NDQQVWPLUKHOIHQ 'HU .RQWUROOUDXP ZDU GXQNHO 2ULVKD KDWWH GDUXP JHEHWHQ 'LH ,//2 KDWWH HLQH 9LGHRIOlFKHHU]HXJWDEHUDXIGLHVHUZDUYRUHUVWQLFKWV]XVHKHQ(VJDENHLQ%LOG 2ULVKD ZUGH HV ]HLFKQHQ KDWWH HU JHVDJW (U KDWWH DXV HLQHU 7DVFKH DP 7UlJHU VHLQHV EXQWHQ *HZDQGV HLQ NOHLQHV ZUIHOI|UPLJHV 2EMHNW JHQHVWHOW XQG HLQHQ HLQ]HOQHQ*UHLIDUPPLWYLHU)LQJHUQDXVJHELOGHW
³9HUVWHKVWGXGDV"KDWWHHUGLH,//2JHIUDJW ³/DXWXQGGHXWOLFKZDU,//26$QWZRUWJHZHVHQXQG)HOOPHU/OR\GKDWWHNHLQH $KQXQJZRUXPHVEHLGHUNXU]HQ8QWHUKDOWXQJJLQJ ³9DWRPDQGU\PDJLQIHUQHU9HUJDQJHQKHLWHLQQDWUOLFKHU$VWHURLGJHZHVHQVHLQ EHJDQQGHU'XDUDVHLQH6FKLOGHUXQJ³,FKZHLHVQLFKW-HGHQIDOOVKDWVLHGLH)RUP HLQHV $VWHURLGHQ 9RQ GHU XUVSUQJOLFKHQ 6XEVWDQ] LVW MHGRFK QLFKWV PHKU YRUKDQGHQ 9DWRPDQGU\ LVW YRQ XQUHJHOPlLJHU *HVWDOW 'LH )HVWXQJ LVW HLQKXQGHUWIQI]LJ .LORPHWHU ODQJ $Q GHU EUHLWHVWHQ 6WHOOH PLW VLH VHFK]LJ .LORPHWHU XQG LKUH PD[LPDOH 'LFNH EHWUlJW IQIXQG]ZDQ]LJ .LORPHWHU 6LH VLHKW DXVZLH )DV]LQLHUW VDK )HOOPHU ]X ZLH DXI GHU 9LGHRIOlFKH GLH 8PULVVH HLQHV *HELOGHV HQWVWDQGHQGDVDXVVDKZLHHLQ6WFN6WHLQGDVDXVHLQHU)HOVZDQGKHUDXVJHEURFKHQ ZRUGHQ ZDU 'HU 6WHLQ ZDU VFKLHIULJHU $UW (V OLHHQ VLFK GHXWOLFK XQWHUVFKLHGOLFKH 6FKLFKWHQHUNHQQHQ ³'XVLHKVWVFKRQZLHVLHDXVVLHKWIXKU2ULVKDIRUW³'LHJHVDPWH)HVWXQJLVWYRQ HLQHP NXJHOI|UPLJHQ (QHUJLHIHOG XPJHEHQ LQ GHVVHQ ,QQHUHP HLQKHLWOLFKH VDXHUVWRIIKDOWLJH$WPRVSKlUHXQGHLQKHLWOLFKH*UDYLWDWLRQKHUUVFKHQ :LH HLQHQ +DXFK ]HLFKQHWH ,//26 6\QWURQ HLQH WUDQVSDUHQWH .XJHO XP GDV %LOG GHU )HVWXQJ 'HU 'XUFKPHVVHU GHV (QHUJLHIHOGV VFKlW]WH )HOOPHU EHWUXJ .LORPHWHU ³$XHU .URYRUV HLJHQHP )DKU]HXJ GDUI NHLQ *URUDXPVFKLII DXI 9DWRPDQGU\ ODQGHQ %HVXFKHU PVVHQ PLW )lKUHQ QDFK XQWHQ JHEUDFKW ZHUGHQ 'HU +DQJDU LQ GHP .URYRUV 6FKLII XQWHUJHEUDFKW LVW EHILQGHW VLFK DXI GHP K|FKVWHQ3XQNWGHV*HOlQGHV (LQ ZHLHV *HElXGH HQWVWDQG DXI GHU 2EHUIOlFKH GHU )HVWXQJ (V ZDU TXDGUDWLVFK XQGEHGHFNWHHLQH)OlFKHYRQUXQGHLQHP4XDGUDWNLORPHWHU ³'D .URYRU HLQH EUDXFKEDUH $WPRVSKlUH YHUQQIWLJH *UDYLWDWLRQ XQG VLFKHUOLFK JHQXJ :DVVHU 1lKUVWRIIH XQG 0LQHUDOLHQ ]XU 9HUIJXQJ VWHKHQ KDW HU GLH *HOHJHQKHLWJHQW]W9DWRPDQGU\LQHLQHEOKHQGH0LQLDWXUZHOW]XYHUZDQGHOQ'LH 2EHUIOlFKHGHU)HVWXQJEHU]RJVLFKPLWVDWWHP*UQ:DOGIOlFKHQZHFKVHOWHQPLW :LHVHQDE³'LH*UDYLWDWLRQLVWHLQKHLWOLFKVDJWHLFK'LH8QWHUVHLWHGHU)HVWXQJKDW GLH)XQNWLRQHLQHV%RGHQV'RUWZlFKVWQDWUOLFKQLFKWV'LH8QWHUVHLWHEHVWHKWDXV HLQHUJODWWHQ0HWDOOIOlFKH 'HU (ZLJH .ULHJHU KDW VLFK ZLH HV VHLQHU KRKHQ 6WHOOXQJ HQWVSULFKW PLW ]DKOUHLFKHP *HIROJH XPJHEHQ 0DQ VFKlW]W GD HLQH 0LOOLRQ :HVHQ YHUVFKLHGHQVWHU +HUNXQIW DXI XQG LQ 9DWRPDQGU\ OHEHQ 1DWUOLFK VLQG VLH DOOH VRUJIlOWLJDXVJHZlKOWXQG.URYRUWUHXHUJHEHQ6LHOHEHQLQ6LHGOXQJHQYRQGHQHQ VLFK]ZHLDXIGHU2EHUIOlFKHGHU)HVWXQJEHILQGHQ 'DV %LOG ]HLJWH ]ZHL *HElXGHJUXSSHQ MH HLQH DQ MHGHP (QGH GHV ODQJJHVWUHFNWHQ *HELOGHV )HOOPHU VDK +lXVHU XQWHUVFKLHGOLFKHQ %DXVWLOV LQ UHJHOPlLJHU )RUP DQJHOHJWH*lUWHQ:HJHXQG6WUDHQGLH]ZLVFKHQGHQ+lXVHUQHQWODQJIKUWHQ(V PDFKWHDOOHVHLQHQIUHXQGOLFKHQXPQLFKW]XVDJHQLG\OOLVFKHQ(LQGUXFN
³'LHHLJHQWOLFKH*U|HGHU)HVWXQJ9DWRPDQGU\HQWKOOWVLFKMHGRFKHUVWGHPVHW]WH 2ULVKD VHLQH %HVFKUHLEXQJ IRUW ³GHU VLFK GLH 0KH PDFKW LQV ,QQHUH KLQDE]XVWHLJHQ'DV,QQHUHLVWLQ]Z|OI(EHQHQXQWHUWHLOW 'LHGHP%HWUDFKWHU]XJHZDQGWH)ODQNHGHU)HVWXQJO|VWHVLHKDXI'DV%LOGPDFKWH GHXWOLFKGDGDV,QQHUH9DWRPDQGU\VDXVJHK|KOWZDU=Z|OIlTXLGLVWDQWH1LYHDXV ZXUGHQ HUNHQQEDU $XFK GRUW JDE HV 9HJHWDWLRQ /DQJH .HWWHQ YRQ /HXFKWN|USHUQ ZDKUVFKHLQOLFK +HOLRVWUDKOHUQ HUIOOWHQ GLH (EHQHQ PLW WDJKHOOHP /LFKW $XI GHU GULWWHQ (EHQH YRQ REHQ JHUHFKQHW EUHLWHWH VLFK HLQH 6WDGW DXV 1XU GLH XQWHUVWH (EHQH VDK )HOOPHU ZDU NDKO XQG OHHU ³'LH 9HUELQGXQJ GHU HLQ]HOQHQ (EHQHQ XQWHUHLQDQGHU HUIROJW GXUFK $QWLJUDYVFKlFKWH XQG 5DPSHQ (V JLEW DXFK HLQLJH 7UDQVPLWWHUGLHMHGRFKQXUYRQEHVRQGHUV3ULYLOHJLHUWHQEHQW]WZHUGHQN|QQHQ,P ,QQHUQGHU)HVWXQJ9DWRPDQGU\KHUUVFKW)UHL]JLJNHLW'LH%HZRKQHUXQGZlKUHQG GHU 9RONVIHVWH DXFK GLH *lVWH N|QQHQ VLFK EHZHJHQ ZR VLH ZROOHQ 1XU ]ZHL 2UWHVLQGDOV6SHUUJHELHWHGHNODULHUW'HUHLQHLVWGHU+DQJDULQGHP.URYRUV6FKLII VWHKW'HUDQGHUHLVWGLHXQWHUVWHGLH]Z|OIWH(EHQH 'DV%LOGUFNWHQlKHUKHUDQ'LH)HVWXQJGUHKWHVLFKHLQZHQLJXPGLH/lQJVDFKVH VRGDGHU%HWUDFKWHUVLHYRQVFKUlJREHQ]XVHKHQPHLQWH'LHREHUHQHOI(EHQHQ O|VWHQVLFKDXIhEULJEOLHEDOOHLQGLH]Z|OIWHLP$XJHQEOLFNQRFK|GHXQGOHHU ³'DVKDWVHLQHQJXWHQ*UXQGIXKUGHU'XDUDIRUW³'HQQKLHUXQWHQEHILQGHWVLFK GHU:RKQVLW]GHV(ZLJHQ.ULHJHUV.ULHJHUZLH.URYRUKDEHQGLH$QJHZRKQKHLWYRQ LKUHU :LFKWLJNHLW EHU]HXJW ]X VHLQ 'HPHQWVSUHFKHQG IDOOHQ GLH *HElXGH DXV LQ GHQHQVLHZRKQHQ 'HU 6\QWURQ ]HLFKQHWH GDV %LOG HLQHU $QODJH GLH VLFK DXI HLQHP IODFKHQ +JHO HUKRE 6LH EHGHFNWH HLQH )OlFKH YRQ JXW XQG JHUQ ]HKQ 4XDGUDWNLORPHWHUQ XQG EHVWDQG DXV +XQGHUWHQ YRQ *HElXGHQ XQWHUVFKLHGOLFKVWHU )RUP GLH GXUFK %UFNHQ XQG+RFKVWUDHQXQWHUHLQDQGHUYHUEXQGHQZDUHQ6SLW]H7UPHXQGVFKODQNHVLFK WHUUDVVHQDUWLJ QDFK REHQ YHUMQJHQGH 6WUXNWXUHQ VWDFKHQ DXV GHP +lXVHUJHZLUU KHUYRU (LQ %DXZHUN YRQ GHU )RUP HLQHU EHUVFKODQNHQ 3\UDPLGH PLW VWHLOHQ PHWDOOLVFKJOlQ]HQGHQ6HLWHQZlQGHQUDJWHIDVWELV]XU'HFNHGHVXQWHUVWHQ1LYHDXV HPSRU )HOOPHU /OR\G KLHOW XQZLOONUOLFK GHQ $WHP DQ 'LH 3\UDPLGH PXWH DQQlKHUQG]ZHL.LORPHWHUKRFKVHLQXQGHUKDWWHVLHVFKRQHLQPDOJHVHKHQ 2ULVKD]HLFKQHWHZHLWHU ³1DWUOLFK P|FKWH GHU .ULHJHU QLFKW LQ GHU :VWH OHEHQ 'LFKWHU :DOG HQWVWDQG XQGJUWHWHGHQ)XGHV+JHOV6HFKVEUHLWH6WUDHQIKUWHQGXUFKGHQ:DOG6LH VWUDKOWHQ UDGLDO YRQ .URYRUV 3DODVW DXV XQG PQGHWHQ LQ HLQH 5LQJVWUDH GLH GHQ 3DODVWLQHLQHP$EVWDQGYRQ]HKQ.LORPHWHUQXPJDE$QGHQ:DOGVFKORVVHQVLFK ZHLWHEXVFKEHVWDQGHQH*UQIOlFKHQDQ³(UXPJLEWVLFKPLW3IODQ]HQXQG7LHUHQ XQGGLH*HWUHXVWHQVHLQHU8QWHUJHEHQHQGUIHQPLWLKPDXIHLQHU(EHQHZRKQHQ QLFKWLQ'|UIHUQRGHU6WlGWHQVRQGHUQLQHLQ]HOQVWHKHQGHQ*HElXGHQ+LHUXQGGD
HQWVWDQGHQ NOHLQH )DUEWXSIHU LP WLHIHQ *UQ GHU 9HJHWDWLRQ 'DV ZDUHQ GLH +lXVHU GHU *HWUHXHQ ³)U GLH *HWUHXHQ JLOW GLH 'HNODULHUXQJ GHU ]Z|OIWHQ (EHQH DOV 6SHUUJHELHWQDWUOLFKQLFKW6LHN|QQHQKLHUHLQXQGDXVJHKHQZLHHVLKQHQEHOLHEW hEULJHQV JLEW HV ]XP (QGH HLQHV MHGHQ 9RONVIHVWV HLQHQ 7DJ DQ GHP GHU (ZLJH .ULHJHU VHLQH $EJHVFKORVVHQKHLW DXIJLEW XQG DXFK GLH %HVXFKHU GHV )HVWHV ]X VLFK OlW$QGLHVHP7DJ]HLJWHUVLFKLQVHLQHPJDQ]HQ*ODQ]XQGHVILQGHWHLQEHVRQGHUHV 6SHNWDNHO VWDWW GDV GDIU VRUJHQ VROO GD GLH )HVWEHVXFKHU LKUHQ $XIHQWKDOW LQ 9DWRPDQGU\JHZLQLFKWYHUJHVVHQ 2ULVKDPDFKWHHLQH3DXVH)HOOPHU/OR\GILHEHUWHYRU(UUHJXQJ$QGHP%LOGIHKOWH QRFK HWZDV (U ZDU VLFKHU GD GHU 'XDUD VLFK GLH hEHUUDVFKXQJ ELV ]XP OHW]WHQ $XJHQEOLFNDXIJHKREHQKDWWH (UWlXVFKWHVLFKQLFKW2ULVKDIXKUIRUWLQGHPHUVDJWH ³(LQHV JLOW HV QRFK KLQ]X]XIJHQ ,FK ELQ VLFKHU GD PHLQ =XK|UHU HV VFKRQ EHPHUNWKDW(UNHQQWGLHVSLW]H3\UDPLGHGLHDXV.URYRUV3DODVWDXIUDJW(UKDWVLH VFKRQHLQPDOJHVHKHQ(VJLEWQRFKHLQ*HElXGHDXIGHUXQWHUVWHQ(EHQHGDVYRQ EHVRQGHUHU%HGHXWXQJLVW(VGLHQWXQHUIUHXOLFKHQ=ZHFNHQ (LQ 3DUN HQWVWDQG XQPLWWHOEDU MHQVHLWV GHU 5LQJVWUDH YRP 3DODVW DXV JHVHKHQ ,QPLWWHQ GHV 3DUNHV HUKRE VLFK HLQ %DXZHUN YRQ HLJHQZLOOLJHU 6WUXNWXU (V EHVWDQG DXV PHKUHUHQ KlXVHUJURHQ (OHPHQWHQ GLH ZLOONUOLFK ]XVDPPHQJHIJW ZRUGHQ ZDUHQ VR GD HLQH YHUVFKDFKWHOWH 6WUXNWXU HQWVWDQG GLH YHUVSLHOW ZLUNWH $Q GHQ $XHQVHLWHQ GHU %DXHOHPHQWH ]RJHQ VLFK ODQJJHVWUHFNWH NRORQDGHQlKQOLFKH %DONRQHHQWODQJ=LHUOLFKH6lXOHQVWW]WHQKRKHERJHQI|UPLJJHZ|OEWHgIIQXQJHQ )HOOPHUV3XOVUDVWH'XUFKHLQHGLHVHUgIIQXQJHQKDWWHHUJHEOLFNWDOV2ULVKDYRP .RQWUROOUDXP GHU 6LUHQH DXV GHQ ,QKDOW GHV 3DUDPHWHUVSHLFKHUV DEIUDJWH 'XUFK HLQHGLHVHUgIIQXQJHQKDWWHHU*LOJLGVFKZHEHQVHKHQ'LH*UDVIOlFKHDXVGHUGDV *HElXGHVLFKHUKREGLH5HLKHQGHUEOKHQGHQ%VFKHHVVWLPPWHDOOHVELVDXIGLH OHW]WH.OHLQLJNHLW ³,FK VHKH DQ GHU 5HDNWLRQ PHLQHV =XK|UHUV VDJWH 2ULVKD ³GD HU GLH 6]HQH HUNHQQW'DV*HEl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|QQWH ³9HUVWDQGHQXQGDXIJH]HLFKQHWDQWZRUWHWHGLH6WLPPHGHV6FKLIIHV 'DQQZXUGHHVKHOO
)HOOPHUV (UUHJXQJ OHJWH VLFK QXU ODQJVDP 2ULVKD ZDUWHWH JHGXOGLJ )HOOPHU EHVRUJWHVLFKHLQ*HWUlQNXQGVWU]WHHVKLQXQWHU'DQQJLQJHUDXIGHQ'XDUD]X (UGHXWHWHDXIGHQNOHLQHQ:UIHOGHQ2ULVKDQRFKLPPHULQGHU+DQGKLHOW ³:DVLVWGDVIUHLQ'LQJ"ZROOWHHUZLVVHQ 2ULVKDEHJULIIGDGHU0DQQYRQ7HUUDHUVWEHU%HODQJORVHVVSUHFKHQPXWHEHYRU HU]XVHLQHPHLJHQWOLFKHQ$QOLHJHQNDP ³,FKQHQQHHVHLQHQ.RQYHUWHUDQWZRUWHWH2UVLKD³(VQLPPWPHLQH*HGDQNHQDXI XQGYHUZDQGHOWVLHLQ,PSXOVHGLHGHU6\QWURQGHLQHV6FKLIIHVYHUVWHKW ³(LQ3URGXNWGHU'XDUD7HFKQLN"IUDJWH)HOOPHU ³2K QHLQ 0LW VROFKHQ 'LQJHQ EHVFKlIWLJHQ ZLU XQV QLFKW ZHKUWH 2ULVKD DE ³,FK KDEH HV LUJHQGZR DXIJHOHVHQ GDPDOV ZlKUHQG GHU QlUULVFKHQ7DJH DOV LFK .URYRU GHQ5DQJVWUHLWLJPDFKHQZROOWH.ULHJHU7HFKQLN )HOOPHU/OR\GVFKULWWXQUXKLJDXIXQGDE,QGHUHUKREHQHQUHFKWHQ+DQGKLHOWHUGHQ OHHUHQ%HFKHUXQGPDQFKPDOXPIDWHHULKQVRKDUWGDGLH.Q|FKHOZHLDXVGHP +DQGUFNHQKHUYRUWUDWHQDOVZROOHHUGDV*HIl]ZLVFKHQGHQ)LQJHUQ]HUGUFNHQ ³'DVDOVRLVW9DWRPDQGU\VDJWHHUVFKOLHOLFK(UEOLHEYRU2ULVKDVWHKHQ³,Q.U]H ZLUGPDQPLFKGRUWILQGHQ:LHVWHKWHVPLWGLU" ³0HLQ)UHXQG)HOOPHUVDJWH2ULVKDYROOHU(UQVW³GXKDVWPLFKGDYRUEHZDKUWGD LFK ]ZHLWDXVHQG -DKUH DXI PHLQH (UO|VXQJ ZDUWHQ PX ,FK VFKXOGH GLU 'DQN $XHUGHPZDUHVRKQHKLQPHLQH$EVLFKWGHP(ZLJHQ.ULHJHU.URYRUVRYLHO*UDP ZLHP|JOLFK]XEHUHLWHQ'XZLUVWDOVRDXFKPLFKDXI9DWRPDQGU\ILQGHQ )HOOPHUVWUHFNWHLKPGLHUHFKWH+DQGHQWJHJHQ ³:DVLVWGDV"IUDJWH2ULVKDPLWUDXLVFK ³(LQ+DQGVFKODJXQWHU0lQQHUQ(LQH6LWWHPHLQHV9RONHV0DQEHNUlIWLJWGDPLWHLQ (LQYHUVWlQGQLV 'HU'XDUDKDWWHGHQ$UPPLWGHVVHQ+DQGHUGHQNOHLQHQ.RQYHUWHUJHKDOWHQKDWWH QRFKQLFKWZLHGHU]XUFNJHELOGHW(UVWUHFNWHLKQQDFKYRUQH'LHEHLGHQ+lQGHOHJWHQ VLFKLQHLQDQGHUHLQHYLHUILQJULJHXQGHLQHIQIILQJULJH ³$XIJXWHV*HOLQJHQVDJWH)HOOPHU ³,FK ZQVFKH GLU YLHO 9HUJQJHQ ZlKUHQG GHV )HVWHV VDJWH GLH 5RERWDSSDUDWXU QDFKGHPVLHGLH0DUNHLQVSL]LHUWKDWWHGLH)HOOPHU/OR\G]XP)OXJDQ%RUGGHU)lKUH .(3$./$8$1EHUHFKWLJWH )HOOPHU DQWZRUWHWH QLFKW 'HU5RERWHUZDUHLQHUYRQGHUSULPLWLYHQ$UWGDVK|UWH PDQ DQ VHLQHU VFKOHFKW PRGXOLHUWHQ 6WLPPH (U KlWWH QLFKW YHUVWDQGHQ ZHQQ PDQ VLFKEHLLKPEHGDQNWH)HOOPHUQDKPGLH0DUNHVFKREVLHLQHLQHGHUYLHOHQ7DVFKHQ VHLQHU 1HW]NRPELQDWLRQ XQG WUDW DXI GDV OHXFKWHQGH (QHUJLHEDQG GDV DXV GHU $EIHUWLJXQJVKDOOHKLQDXVXQGKLQDXI]XU/DGHVFKOHXVHGHU)lKUHIKUWH (UZDUQLFKWDOOHLQ'LH.(3$./$8$1ZDUDXVJHEXFKW9RULKPDXIGHP%DQGGDV LKQ ODQJVDP LQ GLH +|KH WUXJ ZDU HLQH *UXSSH YRQ DUWKURSRLGHQ 6HOHQJJD LQ
HLIULJHUYRQ=LVFKXQG6FKQDO]ODXWHQHUIOOWHU8QWHUKDOWXQJEHJULIIHQ+LQWHULKP KHU JOLWW HLQ 6ODWW GHVVHQ IODFKHU TXDOOHQI|UPLJHU .|USHU IDVW GLH JHVDPWH %UHLWH GHV%DQGHVHLQQDKP(UKDWWHGUHL$XJHQVWLHOHDXVJHELOGHW0LW]ZHLHQEHREDFKWHWH HU DUJZ|KQLVFK GLH 8PJHEXQJ GHU GULWWH ZDU DXI GDV NRIIHUlKQOLFKH %HKlOWQLV JHULFKWHWLQGHPGHU6ODWWVHLQH+DEVHOLJNHLWHQPLWVLFKIKUWH(LQ7HQWDNHOKDWWH VLFKXPGHQ.RIIHUJHVFKOXQJHQ'LH6ODWWZDUHQDOVPLWUDXLVFKEHNDQQW 'DV ,QQHUH GHU )lKUH XQWHUVFKLHG VLFK ZHVHQWOLFK YRQ GHP KHUN|PPOLFKHQ 3DVVDJLHUVFKLIIH'LH5HLVHZUGHQXUYLHU6WXQGHQGDXHUQ(VJDENHLQH.DELQHQ VRQGHUQ HLQHQ JURHQ RIIHQHQ 5DXP LQ GHP 6LW] XQG 5XKHJHOHJHQKHLWHQ LQ ODQJHQ PHKUJOLHGULJHQ 5HLKHQ DQJHEUDFKW ZDUHQ 'HU 9LHOIDOW XQWHUVFKLHGOLFKHU .|USHUIRUPHQ ZDU 5HFKQXQJ JHWUDJHQ (V JDE 6FKDOHQ :DQQHQ KHUN|PPOLFKH *OLHGHUVLW]H /HLWHUJHUVWH VRJDU +RUVWVWDQJHQ IU 2UQLWKRLGHQ (V KHUUVFKWH XQEHUVLFKWOLFKHV *HGUlQJH ZlKUHQG GLH )DKUJlVWH YHUVXFKWHQ VLFK P|JOLFKVW EHTXHPH6LW]JHOHJHQKHLWHQ]XYHUVFKDIIHQ )HOOPHU/OR\GHUVSlKWHHLQH*UXSSHYRQYLHU6HVVHOQXQGEHOHJWHHLQHQGDYRQPLW %HVFKODJ(UOHKQWHVLFKEHTXHP]XUFNVWUHFNWHGLH%HLQHYRQVLFKXQGVFKORGLH $XJHQ$OVHUVHLQH0HQWDOVHQVRUHQDNWLYLHUWHVFKLHQGHU/lUPULQJVXPJHULQJHU]X ZHUGHQ 'DIU SUDVVHOWHQ +XQGHUWH YRQ JHGDQNOLFKHQ ,PSXOVHQ DXI LKQ HLQ (U VXFKWHQDFKQLFKWV%HVRQGHUHP(UOLHQXUGLH*HGDQNHQPXVWHUGHU0HQJHDXIVLFK HLQZLUNHQ)UGHQ%UXFKWHLOHLQHU6HNXQGHK|UWHHUGLH0HQWDOVLJQDOHGHV6ODWWDXV GHP:LUUZDUUKHUDXV'HU$PRUSKHPDFKWHVLFK6RUJHQHLQ$WWHQWlWHUN|QQHGDV DOOJHPHLQH 'XUFKHLQDQGHU EHQW]HQ XP HLQHQ $QVFKODJ DXI LKQ ]X YHUEHQ (LQ VS|WWLVFKHV/lFKHOQHUVFKLHQDXIGHP*HVLFKWGHV0XWDQWHQ6ODWWGXKlOWVWGLFKIU ]XZLFKWLJGDFKWHHU ³:HOFKHUGLHVHU6LW]HLVWQRFKIUHL"K|UWHHUMHPDQGLQXQPLWWHOEDUHU1lKHVDJHQ )HOOPHU /OR\G ]RJ GLH %HLQH DQ XQG |IIQHWH GLH $XJHQ 9RU LKP VWDQG HLQ DEHQWHXHUOLFK JHNOHLGHWHU *DZURQ HLQ KXPDQRLGHV :HVHQ PLW HLQHP GLFNHQ NQ|FKHUQHQ $XJHQEUDXHQZXOVW GHU ZLH HLQH ]ZHLWH 6WLUQ DXV VHLQHP *HVLFKW KHUYRUUDJWHXQGHLQHPEUHLWHQGQQOLSSLJHQ0XQG'DV9RONGHU*DZURQZDULQ GHU *DOD[LV 6LRP 6RP EHKHLPDWHW 'DV :HVHQ GDV YRU )HOOPHU VWDQG WUXJ HLQ *HZDQG GDV HLQHP 2YHUDOO JOLFK 'HU 6WRII ZDU LQ EXQWHQ VFKUlJ RULHQWLHUWHQ 6WUHLIHQ JHPXVWHUW 8P GLH +IWH WUXJ GHU *DZURQ HLQHQ EUHLWHQ *XUW DXV HLQHP PHWDOOLVFK VFKLPPHUQGHQ 0DWHULDO XQG XP GLH 6FKXOWHUQ HLQ OlFKHUOLFK NXU]HV %ROHUR-lFNFKHQDXV*ROGODPp )HOOPHUZLHVDXIGLHGUHLOHHUHQ6HVVHO ³'LHVHVLQGDOOHQRFKIUHLVDJWHHUDXI6RWKDONZLHHUDQJHVSURFKHQZRUGHQZDU ³0DFKHVGLUEHTXHP ³'DQNH DQWZRUWHWH GHU *DZURQ ³,FK KHLH 6HPELODQ (V VLHKW VR DXV DOV ZlUHQ ZLU1DFKEDUQDXIGLHVHP)OXJ(LQHQYRQGHLQHP7\SXVKDEHLFKQRFKQLHJHVHKHQ
:RKHUNRPPVWGX" ³9RQGHQ$XHQZHOWHQDQWZRUWHWH)HOOPHUXQGQDQQWHHEHQIDOOVVHLQHQ1DPHQ $XHQZHOWHQZXUGHLP5HLFKGHU(ZLJHQ.ULHJHUDOOHVJHQDQQWZDVQLFKW]XGHQ =Z|OI*DOD[LHQJHK|UWH ³'LFKORFNWGDV9RONVIHVW"HUNXQGLJWHVLFK6HPELODQ (U KDWWH LQ]ZLVFKHQ GHQ *UWHO DEJHVFKQDOOWXQGLKQDXIGHQ6HVVHOQHEHQ)HOOPHU JHOHJW (U VHOEVW VHW]WH VLFK QRFK HLQHQ 6LW] ZHLWHU 'HP 0XWDQWHQ ODJ ZHQLJ DQ HLQHPJHVSUlFKLJHQ5HLVHJHIlKUWHQ(UKDWWHGLH)DKUWLQ5XKHKLQWHUVLFKEULQJHQ XQG XQWHUZHJV GHQ *HGDQNHQ GHU EULJHQ )DKUJlVWH ODXVFKHQ ZROOHQ (V EHVWDQG LPPHUGLH0|JOLFKNHLWGDHUDXIGLHVH:HLVHHWZDVHUIXKUZDVHUDXI9DWRPDQGU\ ]X VHLQHP 9RUWHLO JHEUDXFKHQ NRQQWH $QGHUHUVHLWV ZDU 6HPELODQ HLQ EHUDXV K|IOLFKHUXQGIUHXQGOLFKHU=HLWJHQRVVHXQGHVZLGHUVSUDFK)HOOPHUV$UWLKQGXUFK 6FKURIIKHLWYRUGHQ.RSI]XVWRHQ ³,FKKDEHYLHOGDYRQJHK|UWVDJWHHU³,FKUHLVHXPPLFK]XELOGHQ,FKPHLQWHLFK GUIWHPLUGDV)HVWQLFKWHQWJHKHQODVVHQ ³9LHOOHLFKW NDQQ LFK GHLQHU %LOGXQJ I|UGHUOLFK VHLQ ERW 6HPELODQ VLFK DQ ³,FK KDEHVFKRQYLHOH9RONVIHVWHEHVXFKW%HVRQGHUVDXI9DWRPDQGU\NHQQHLFKPLFKJXW DXV XQG N|QQWH GLU 'LQJH ]HLJHQ GLH GX DOV UHJXOlUHU 7RXULVW QLFKW ]X VHKHQ EHNlPVW 'DVIHKOWPLUQRFKGDFKWH)HOOPHU/OR\G ,PQlFKVWHQ$XJHQEOLFN]XFNWHHU]XVDPPHQ6HLQHhEHUUDVFKXQJZDUVRJURGD HUVLFKXPHLQ+DDUYHUUDWHQKlWWH(UYHUVXFKWHVHLQH(UUHJXQJ]XYHUWXVFKHQLQGHP HU XPVWlQGOLFK VHLQH 6LW]KDOWXQJ ZHFKVHOWH 9HUVWRKOHQ EOLFNWH HU ]X VHLQHP 1DFKEDUQKLQEHU+DWWH6HPELODQHWZDVEHPHUNW" (UKDWWHHLQHQVHLQHU*HGDQNHQHPSIDQJHQXQGGHU*HGDQNHODXWHWH :HQQ LFK PLFK RIIL]LHOO DOV %HJOHLWHU HLQHV )UHPGHQ UHJLVWULHUHQ ODVVH KDEH LFK ZHQLJHU6FKZLHULJNHLWHQXQDXIIlOOLJLQGLH1lKHYRQ*LOJLGV*HIlQJQLV]XJHODQJHQ 'HU )OXJ YHUOLHI HUHLJQLVORV 'LH .(3$. /$8$1 ZDU HLQH 6FKQHOOIlKUH 6LH YHUIJWH EHU HLQHQ PRGHUQHQ (QHUSVL$QWULHE XQG EHZHJWH VLFK HQWODQJ GHU .UDIWIHOGOLQLHQ GHV 3VLRQLVFKHQ 1HW]HV PLW HLQHU *HVFKZLQGLJNHLW GLH ZHQQ PDQ GLH ]XUFNJHOHJWH 6WUHFNH LQ GLH 5DXP XQG =HLWPDVWlEH GHV YLHUGLPHQVLRQDOHQ .RQWLQXXPV EHUWUXJ GDV 0HKUKXQGHUWPLOOLRQHQIDFKH GHU /LFKWJHVFKZLQGLJNHLW DXVPDFKWH 'LH (QWIHUQXQJ ]ZLVFKHQ %DNXPSDL XQG 9DWRPDQGU\ EHWUXJ NQDSS VHFKVWDXVHQG/LFKWMDKUH'HUJU|WH7HLOGHU)OXJ]HLWZXUGHIUGDV0DQ|YULHUHQLP %DNXPSDL6\VWHPXQGLP5DXPVHNWRUGHU)HVWXQJEHQ|WLJW 5RERWHU GLH GXUFK GLH *lQJH JOLWWHQ VHUYLHUWHQ 6SHLVHQ XQG *HWUlQNH GLH GHQ *HVFKPlFNHUQ XQG 0HWDEROLVPHQ GHU YHUVFKLHGHQHQ 6SH]LHV YRQ )DKUJlVWHQ DQJHSDW ZDUHQ (LQH KRORJUDSKLVFKH 6KRZ EHUHLWHWH GLH 3DVVDJLHUH DXI GLH 9HUJQJXQJHQYRUGLHVLHVLFKZlKUHQGGHV9RONVIHVWHVZUGHQ]X*HPWHIKUHQ N|QQHQ(LQDP|ELVFKHU.ODQTJHULHWLQDXWRHURWLVFKH9HU]FNXQJXQGWHLOWHVLFKVR
GD VLFK QXQPHKU ]ZHL .ODQTV DQ %RUG GHU .(3$. /$8$1 EHIDQGHQ )HOOPHU /OR\G EHUOHJWH IOFKWLJ RE PDQ GHQ EHLGHQ QDFKWUlJOLFK HLQHQ ]XVlW]OLFKHQ )DKUSUHLVDQUHFKQHQZUGH :lKUHQG GHU HUVWHQ 6WXQGH KDWWH HU VHLQH $XIPHUNVDPNHLW DXI 6HPELODQV %HZXWVHLQNRQ]HQWULHUW=XVHLQHUJURHQ(QWWlXVFKXQJGDFKWHGHU*DZURQMHGRFK QLFKW PHKU DQ *LOJLG 'XUFK VHLQHQ *HLVW EHZHJWHQ VLFK IODFKH *HGDQNHQELOGHU DOOJHPHLQHU $UW (U GDFKWH DQ VHLQH +HLPDW DQ GHQ )OXJ YRQ 6LRP 6RP QDFK 'KDWDEDDU XQG DQ GHQ =HLWYHUWUHLE GHU DXI LKQ ZDUWHWH 0LW GHU =HLW ZXUGHQ VHLQH *HGDQNHQLPPHUWUlJHUXQGVFKOLHOLFKVFKOLHIHUHLQ(UKDWWHZHGHUHWZDVJHJHVVHQ QRFKHLQ*HWUlQN]XVLFKJHQRPPHQ)HOOPHUODXVFKWHQRFKHLQH=HLWODQJ$EHUHU HPSILQJ QXU GLH ZLUUHQ XQ]XVDPPHQKlQJHQGHQ 0HQWDOLPSXOVH HLQHV WUDXPORV 6FKODIHQGHQ 8QLQWHUHVVLHUWYHUIROJWHHUGLH+RORVKRZ(UVDKQLFKWV1HXHV'DV DOOHV ZDU LKP YRQ 2ULVKD VFKRQ HLQJHKHQG EHVFKULHEHQ ZRUGHQ 2ULVKD (U IUDJWH VLFK ZDV DXV GHP 'XDUD JHZRUGHQ VHL (U KDWWH LKQ GDV OHW]WH 0DO DXI HLQHP GHU 5DXPKlIHQ YRQ %DNXPSDLJHVHKHQDOVHULKQPLWGHP%HLERRWGHU,//2DEVHW]WH ³(V LVW EHVVHU ZHQQ ZLU DXI JHWUHQQWHQ :HJHQ QDFK 9DWRPDQGU\ UHLVHQ KDWWH 2ULVKD JHVDJW )HOOPHUZDUPLWGHP%RRW]XVHLQHP6FKLII]XUFNJHNHKUW(UKDWWHGLH,//2DQHLQHP 2UWYHUDQNHUWDQGHPVLHYRQQLHPDQGJHIXQGHQZHUGHQZUGH'DQQZDUHUDXIGHP :HJGHVSHUV|QOLFKHQ6SUXQJVQDFK%DNXPSDL]XUFNJHNHKUW%HLHLQHP+lQGOHUGHU OlQJVW QLFKW VR HKUOLFK ZDU ZLH 7KXVDOIDQT DXI 0HGLGRRU KDWWH HU *HOGPLWWHO HUZRUEHQ (U KDWWH IU WHXUHV *HOG HLQH 3DVVDJH DXI GHU QlFKVWHQ )lKUH JHEXFKW 1LHPDQG KDWWH LKQ QDFK VHLQHU +HUNXQIW JHIUDJW (V ZDU DOOHV VHKU LQIRUPHOO ]XJHJDQJHQ 'HU (ZLJH .ULHJHU .URYRU VR VFKLHQ HV KDWWH QLFKWV XQG QLHPDQG ]X IUFKWHQ $OV GLH 6WLPPH GHV %RUGFRPSXWHUV YHUNQGHWH GD GLH .(3$. /$8$1 LP %HJULIIVHLEHU9DWRPDQGU\DQ]XOHJHQXQGGDPLWGHU$QNXQIWGHV6KXWWOHGHUGLH 3DVVDJLHUHDQV=LHOEULQJHQZUGHLP/DXIGHUQlFKVWHQKDOEHQ6WXQGH]XUHFKQHQVHL HUZDFKWH6HPELODQDXVWLHIHP6FKODI ³(VVFKHLQWLFKZDUGLUNHLQVHKUXQWHUKDOWVDPHU5HLVHEHJOHLWHUHQWVFKXOGLJWHVLFKGHU *DZUSQ³,FKKRIIHGXNDQQVWPLUGDVYHU]HLKHQ ³(V ZDU QLFKW ODQJZHLOLJ YHUVLFKHUWH )HOOPHU ³,FK KDEH HLQ %LOG GHU )HVWXQJ 9DWRPDQGU\JHZRQQHQ(VPXLQGHU7DWHLQSKDQWDVWLVFKHU2UWVHLQ ³3KDQWDVWLVFKXQGYHUZLUUHQGEHVWlWLJWH6HPELODQ³+DVWGXGLUEHUOHJWREGXGLFK YRQPLUIKUHQODVVHQZLOOVW" ³,FKKDEHHVPLUEHUOHJWVDJWH)HOOPHU³,FKZUGHGHLQH'LHQVWHJHUQLQ$QVSUXFK QHKPHQZHQQVLHQLFKW]XWHXHUVLQG 6HPELODQZLUNWHKDOEZHJVEHOHLGLJW =X WHXHU" 'X PHLQVW LFK ZROOWH GLU HWZDV DQUHFKQHQ" 2K QHLQ 0LU PDFKW HV 9HUJQJHQ HLQHQ 1HXOLQJ LQ GLH *HKHLPQLVVH YRQ 9DWRPDQGU\ HLQ]XIKUHQ 'HLQH
=XIULHGHQKHLWLVWPHLQ/RKQ(UZDFNHOWHHLQZHQLJPLWGHP.RSI³8QGZHQQGX PLFKDEXQG]X]XHLQHU0DKO]HLWHLQOlGVWGDQQZLOOLFKPLFKQLFKWGDJHJHQVWUlXEHQ ³(LQYHUVWDQGHQ)HOOPHU/OR\GODFKWH³6RZROOHQZLUHVKDOWHQ (UWDWVRDOVEHVFKl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|IIQHWH $EHUGDV)DKU]HXJZDULP1XEHUIOOW'LH)DKUJlVWHIOXWHWHQ]XUFNXQGZDQGWHQ VLFK QDFK 6WHXHUERUG ZHLO GRUW LQ]ZLVFKHQ GHU ]ZHLWH 6KXWWOH IHVWJHPDFKW KDWWH ,QPLWWHQ GHV 7UXEHOV EHIDQGHQ VLFK ]ZHL .ODQTV GHQHQ YRQ HLQHP 2IIL]LHU GHU .(3$. /$8$1 NODUJHPDFKW ZXUGH GD VLH HLQHQ ([WUDIDKUSUHLV ]X HQWULFKWHQ KlWWHQ )HOOPHU /OR\G IKOWH VLFK DQ GHU 6FKXOWHU IHVWJHKDOWHQ DOV HU VLFK GHP 6WURP GHU )DKUJlVWHDQVFKOLHHQZROOWH ³6RHUUHLFKVWGXQLFKWVVDJWH6HPELODQ³.RPPPLWPLU,FKZHLZLHGDVJHPDFKW ZLUG )HOOPHU VFKOR VLFK LKP DQ 6HPELODQ VFKULWW ]ZLVFKHQ OHHUHQ 6LW]UHLKHQ KLQGXUFK KHFNZlUWV (U KDWWH VHLQHQ EUHLWHQ *UWHO ZLHGHU DQJHOHJW (V KlWWH )HOOPHU LQWHUHVVLHUW]XHUIDKUHQREHUEHZDIIQHWZDU$EHUGHUVFKZHUH*UWHOZXWHVHLQH *HKHLPQLVVH]XZDKUHQ 6LH JHODQJWHQ LQ HLQH JURH 6FKOHXVHQNDPPHU LQ GHU PHKUHUH /HXFKWVFKULIWHQ YHUNQGHWHQ GD GLH 6FKOHXVH JHJHQZlUWLJ QLFKW LQ %HWULHE ZDU 6HPELODQ OHJWH HLQH +DQG DQ GLH 6FKOlIH DOV ZROOH HU ODXVFKHQ 8QG WDWVlFKOLFK ZDUHQ ZHQLJH 6HNXQGHQ VSlWHU *HUlXVFKH ]X K|UHQ DOV PDFKH VLFK GUDXHQ MHPDQG DP 6FKOHXVHQVFKRWW ]X VFKDIIHQ 'LH /HXFKWVFKULIWHQ HUORVFKHQ 'DV 6FKRWW JOLWW DXI )HOOPHUEOLFNWHLQHLQHQ(QHUJLHVFKODXFK $P DQGHUHQ (QGH GHV 6FKODXFKV EHIDQG VLFK GHU GULWWH 6KXWWOH GHUVRHEHQDQGHU .(3$./$8$1DQJHOHJWKDWWH ³5DVFKVDJWH6HPELODQ³,QHLQSDDU$XJHQEOLFNHQZLVVHQGLHEULJHQ3DVVDJLHUH %HVFKHLGXQGGDQQVLQGZLUKLHUXQVHUHV/HEHQVQLFKWPHKUVLFKHU 6LH ZXUGHQ YRQ GHU %HVDW]XQJ GHV 6KXWWOHV IUHXQGOLFK EHJUW XQG HUKLHOWHQ GLH EHVWHQ6LW]HDQ%RUG 6HPELODQV9RUKHUVDJHEHZDKUKHLWHWHVLFKNXU]H=HLWVSlWHU'LH)DKUJlVWHGLHLP ]ZHLWHQ 6KXWWOH NHLQHQ 3ODW] PHKU JHIXQGHQ KDWWHQ NDPHQ KHUEHLJHVWUPW 6LH
YHUWHLOWHQ VLFK DXI GLH YHUIJEDUHQ 6LW]H 'LHMHQLJHQ GLH NHLQHQ 3ODW] IDQGHQ ZXUGHQYRQGHU%HVDW]XQJPHKURGHUZHQLJHUVDQIWKLQDXVJHGUlQJW(WZDXPGLHVH =HLW ZXUGH EHU ,QWHUNRP YHUNQGHW GHU YLHUWH 6KXWWOH VHL ]XP $XIQHKPHQ YRQ 3DVVDJLHUHQEHUHLW8QWHUGHQOHW]WHQGLHVLFKHLOHQGVDXIGHQ:HJPDFKWHQZDUHQ DXFKGLHEHLGHQ.ODQTV 'HU 6KXWWOH OHJWH DE =DKOUHLFKH 9LGHRGDUVWHOOXQJHQ LQIRUPLHUWHQ GLH )DKUJlVWH EHUGHQ9HUODXIGHV)OXJHV'LHHQHUJHWLVFKH6FKLUPKOOHGLH9DWRPDQGU\XPJDE ZXUGH SDVVLHUW ZDKUVFKHLQOLFK GXUFK HLQH NXU]]HLWLJ HUVWHOOWH 6WUXNWXUOFNH 'LH 6FKZlU]H GHV :HOWDOOV PDFKWH HLQHP WLHIHQ 9LROHWW 3ODW] GDV VLFK ]X LPPHU OLFKWHUHP%ODXYHUIlUEWHMHWLHIHUGHU6KXWWOHVDQN 'LH (LQ]HOKHLWHQ GHU 2EHUIOlFKH DXI GLH GDV )DKU]HXJ VLFK ]XEHZHJWH ZDUHQ )HOOPHU /OR\G DXV 2ULVKDV 6FKLOGHUXQJ EHNDQQW'HUJURHZHLH+DQJDULQGHP .URYRUV 5DXPVFKLII ODJ EOLHE LP +LQWHUJUXQG 'HU 6KXWWOH KLHOW DXI HLQH KRKH JOlVHUQH.XSSHO]X ³:LOONRPPHQDXI9DWRPDQGU\VDJWHHLQH6WLPPH³:LUIUHXHQXQVGDLKU]XP 9RONVIHVW GHV (ZLJHQ .ULHJHUV .URYRU JHNRPPHQ VHLG 9DWRPDQGU\ VWHKW HXFK RIIHQ9HUJQJWHXFKXQGOREWGLH*WHGHV.ULHJHUV%HLGHU(LQUHLVHLVWQXUHLQH HLQ]LJH)RUPDOLWlW]XEHDFKWHQ,KUKDEWHXFKQRFKLQGHUJOlVHUQHQ+DOOHGLHLKU DXIGHP%LOGVHKWEHLGHU7RXULVWHQEHK|UGH]XPHOGHQ0DQZLUGHXFKGRUWHXUH 8QWHUNQIWH DQZHLVHQ )UHXQGOLFKH %HKDQGOXQJ LVW JDUDQWLHUW ZLH LPPHU XQG EHUDOODXI9DWRPDQGU\ 'HU 6KXWWOH JOLWW WDWVlFKOLFK LQ GLH WUDQVSDUHQWH .XSSHO KLQHLQ :LHGHU ZXWH 6HPELODQ DXI ZHOFKH :HLVH PDQ GDV )DKU]HXJ DP VFKQHOOVWHQ YHUODVVHQ NRQQWH RKQH PLW DQGHUHQ )DKUJlVWHQ LQV *HGUlQJH ]X JHUDWHQ )HOOPHU XQG GHU *DZURQ ZDUHQ GLH HUVWHQ GLH DQ HLQHP GHU $EIHUWLJXQJVVFKDOWHU GHU 7RXULVWHQEHK|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|USHUV EHKHUUVFKWH 'HU 6FKlGHO ZLHV HLQH ZHLW QDFK YRUQ JHVFKREHQHVFKQDX]HQKDIWH0XQGSDUWLHDXI'LH$XJHQK|KOHQZDUHQGUHLHFNLJPLW HLQHU 6SLW]H QDFK XQWHQ ZHLVHQG 'LH $XJlSIHO ZDUHQ JHOE ,Q GLH RFNHUIDUEHQH RYDOH ,ULV ZDU HLQH VHQNUHFKW VWHKHQGH 6FKOLW]SXSLOOH HLQJHEHWWHW 'HU %OLFN GHU $XJHQZLUNWHVWHFKHQGXQGGXUFKGULQJHQG 'LH+DXWGHV/D]HUWRLGHQZDUGXUFKVLFKWLJ'DV6SLHOGHU0XVNHOQZDUGHXWOLFK]X
VHKHQ 'LH 6NHOHWWVWUXNWXU GHV 3WHUXV EHVWDQG DXV ]DKOORVHQ :LUEHOQ GLH XQWHUHLQDQGHU GUHKEDU ZDUHQ )HOOPHU KDWWH GHQ $QEOLFN HLQHV 3WHUXV VFKRQ LPPHU DOV XQlVWKHWLVFK HPSIXQGHQ 'HU 8PVWDQG GD GLH (ZLJHQ .ULHJHU VHOEVW DXV GHP 9RON GHU 3WHUXV VWDPPWHQ WUXJ QLFKW GD]X EHL LKP GLH 6SH]LHV V\PSDWKLVFKHU ]X PDFKHQ ³=HLJWPLUHXUH0DUNHQVDJWHGHU+WHUGHV6FKDOWHUVPLWVFKQDUUHQGHU6WLPPH ,P+LQWHUJUXQGYROO]RJVLFKGHU(LQPDUVFKGHUEULJHQ)DKUJlVWH(VZXUGHODXWLQ GHU JURHQ +DOOH PLW GHP JOlVHUQHQ .XSSHOGDFK 'HU 3WHUXV EHJXWDFKWHWH GLH 0DUNHQ GLH LKP YRQ 6HPELODQ XQG )HOOPHU JHUHLFKW ZXUGHQ XQG OHJWH VLH HLQHP 'DWHQDQVFKOX]XU3UIXQJYRU$XIGHU$Q]HLJHGHV$QVFKOXVVHVODVHUHWZDVDEGDV GLHEHLGHQ%HVXFKHUQLFKW]XVHKHQEHNDPHQ ³'X VDJWH HU XQG JDE 6HPELODQ VHLQH 0DUNH ]XUFN ³]XP +RUVW GHU *DVWIUHXQGVFKDIW³8QGGX)HOOPHUEHNDPVHLQH0DUNHZLHGHUGLH6WLPPHGHV 3WHUXV ZDU XP HLQH 1XDQFH XQIUHXQGOLFKHU JHZRUGHQ ³]XP 1HVW GHU *XWHQ %HVXFKHU )HOOPHU /OR\G NDPHQ DQJHVLFKWV GHU $UW ZLH GHU 3WHUXV GHQ 1DPHQ VHLQHV *DVWKDXVHVDXVVSUDFK%HGHQNHQ%HYRUHUVLFKMHGRFKGD]XlXHUQNRQQWHHUNOlUWH 6HPELODQ ³8QVLQQ0HLQ)UHXQG]LHKWPLWPLULQGHQ+RUVWGHU*DVWIUHXQGVFKDIW 6HPELODQZDUXPHLQHQJXWHQ.RSIJU|HUDOVGDV:HVHQKLQWHUGHP6FKDOWHU'HU 3WHUXVVDK]XLKPDXI,QVHLQHU0LHQHYHUlQGHUWHVLFKNHLQ=XJ$EHUVHLQH6WLPPH ZDUPHUNOLFKVFKlUIHUDOVHUVDJWH ³'HU GHQ GX GHLQHQ )UHXQG QHQQVW KDW HLQH 8QWHUNXQIW LP 1HVW GHU *XWHQ %HVXFKHU JHEXFKW (V VFKHLQW PLU GD GX VFKRQ GHV |IWHUHQ KLHU ZDUVW 'X PXW ZLVVHQGDGDV1HVWHLQHZHLWDXVZHQLJHUDQVSUXFKVYROOH ³:HLLFKILHO6HPELODQGHP/D]HUWRLGHQLQV:RUW³'LH'LIIHUHQ]ZLUGEH]DKOW ³'DUXPJHKWHVQLFKWDOOHLQ'HU+RUWLVW ³,FKELQGHU%HJOHLWHUPHLQHV)UHXQGHVVDJWH6HPELODQGHPDOOPlKOLFKGLH*HGXOG DXV]XJHKHQVFKLHQ ³'DV LVW HWZDV DQGHUHV EHJDQQ GHU 3WHUXV HLQ]XOHQNHQ ³'X ZLUVW GLFK DOOHUGLQJV DOVVROFKHUUHJLVWULHUHQODVVHQPVVHQ ³'DV KDWWH LFK YRU NQXUUWH 6HPELODQ ³:HQQ GX QLFKW VRYLHO 6FKZLHULJNHLWHQ PDFKWHVWZlUHLFKZRKOVFKRQ]X:RUWJHNRPPHQ 'LH=XUFNKDOWXQJGLHGHU3WHUXVPLWHLQHPPDODQGHQ7DJOHJWHHUVFKLHQ)HOOPHU XQJHZ|KQOLFK (U VDK GHP /D]HUWRLGHQ ]X ZlKUHQG HU DXI GHU 7DVWDWXU GHV 'DWHQDQVFKOXVVHV HLQ SDDU *ULIIH WDW XQG VXFKWH LQ VHLQHQ *HGDQNHQ $EHU LP %HZXWVHLQ GHV :HVHQV GDV VHFKV 6WXIHQ GHU .ULHJHUDXVELOGXQJ HUIROJUHLFK KLQWHU VLFKJHEUDFKWKDWWHZDUHQQXUhEHUOHJXQJHQ]XILQGHQGLHPLW3IOLFKWHUIOOXQJ]X WXQKDWWHQ ,Q6HPELODQV9HUVWDQGJHVFKDKHEHQIDOOVQLFKWV%HPHUNHQVZHUWHV(UVFKLHQVLFK]X IUHXHQGDHUGHP3WHUXV5HVSHNWEHLJHEUDFKWKDWWHGDVZDUDOOHV
³'XELVWDOV%HJOHLWHUGHLQHV)UHXQGHVUHJLVWULHUWHUNOlUWHGHU3WHUXV³'XZHLW ZHOFKH9HUDQWZRUWXQJGXGDPLWEHUQLPPVW ³'DVZHLLFKEHVWlWLJWH6HPELODQ ³'X NHQQVW GHQ :HJ ]XP +RUVW GHU *DVWIUHXQGVFKDIW ,FK ZQVFKH HXFK EHLGHQ 9HUJQJHQZlKUHQGHXUHV$XIHQWKDOWVDXI9DWRPDQGU\ 'HU 3WHUXV ZDQGWH VLFK DE $QGHUH $QN|PPOLQJH ZDUWHWHQ DXI $EIHUWLJXQJ 'LH JOlVHUQH +DOOH KDWWH VLFK JHIOOW 6HPELODQV GQQOLSSLJHU 0XQG YHU]RJ VLFK ]X HLQHP EUHLWHQ *ULQVHQ ³(V PDJ GLFK HLQ ZHQLJ WHXHU ]X VWHKHQ NRPPHQ PHLQ )UHXQG VDJWH HU ³$EHU JODXE PLU 1LHPDQG KDW MH EHUHXW LP +RUVW GHU *DVWIUHXQGVFKDIWXQWHUJHNRPPHQ]XVHLQ 'DV%HWWZDUVRJURZLHHLQKDOEHU7HQQLVSODW]ZHQLJVWHQVVFKLHQHV)HOOPHUVR DEHUZRKLQDXFKLPPHUHUVLFKOHJWHJOHLFKJOWLJZLHHUVLFKEHZHJWH'DVPlLJ ZHLFKH K\GURSQHXPDWLVFKH 3ROVWHU SDWH VLFK GHU )RUP VHLQHV .|USHUV DQ XQG YHUPLWWHOWH LKP HLQ +|FKVWPD DQ %HKDJOLFKNHLW 'D HU VLFK WURW]GHP QLFKW VR ZRKO IKOWH ZLH HU HV JHUQ JHKDEW KlWWH ODJ DQ GHU +ROR6KRZ GLH XQDEOlVVLJ YRU VHLQHQ$XJHQDEUROOWH 'DV $SSDUWHPHQW GDV HU VLFK LQ HLQHU GHU :RKQNXSSHOQ GHV +RUVWV GHU *DVWIUHXQGVFKDIW JHPLHWHW KDWWH ZDU DQ :RKQIOlFKH JU|HU DOV VHLQ -XQJJHVHOOHQEXQJDORZ GDKHLP LQ 7HUUDQLD DQ GHQ HU KLQ XQG ZLHGHU ZHKPWLJ ]XUFNGDFKWH (V EHVWDQG DXV GUHL ULHVHQ 5lXPHQ YRQ GHQHQ HU ZlKUHQG VHLQHV NXU]HQ$XIHQWKDOWVDXI9DWRPDQGU\NDXPZUGH*HEUDXFKPDFKHQN|QQHQ(VZDU WHXHU JHZHVHQ LP +RUVW XQWHU]XNRPPHQ $EHU HV ZDU GLH 6DFKH ZHUW 6HPELODQ EHIDQG VLFK LQ GHU 1lKH XQG 6HPELODQ ZXWH PHKU EHU *LOJLGV *HIlQJQLV DOV )HOOPHUELVKHUKDWWHLQ(UIDKUXQJEULQJHQN|QQHQ $XIGHP:HJGXUFKGLH6WDGWKDWWHHUGHQ7UXEHOGHVJURHQ9RONVIHVWVEHUDOO]X VHKHQEHNRPPHQ'DV)HVWZDULQYROOHP*DQJ1XUQRFK]ZHL7DJHEOLHEHQELV]X GHP$XJHQEOLFNGDGHU(ZLJH.ULHJHUVLFKLQDOOVHLQHU3UDFKWGHQ)HVWEHVXFKHUQ ]HLJHQXQGGDV)HVWIUEHHQGHWHUNOlUHQZUGHhEHUDOOLQGHU6WDGWEHIDQGHQVLFK 6WlQGH %XGHQ $UHQHQ )UHLOLFKWEKQHQ EHUDOO ORFNWHQ SVLRQLVFKH 7KHDWHU 7UDXPKDOOHQ 5HVWDXUDQWV XQG .DEDUHWWV GLH %HVXFKHU )HOOPHU KDWWH VLFK YRQ 6HPELODQEHVWlWLJHQODVVHQGDWDWVlFKOLFKDOOHVWlQGLJHQ%HZRKQHU9DWRPDQGU\V 6FKOHU RGHU $EVROYHQWHQ GHV .ULHJHUNXOWV ZDUHQ 6LH ZDUHQ JHJHQEHU GHQ )HVWEHVXFKHUQLQGHU0LQGHU]DKO 'LH )DKUW YRP $XVJDQJ GHV JURHQ $QWLJUDYVFKDFKWV GHU TXHU GXUFKV ,QQHUH GHU )HVWXQJIKUWHELV]XP*HElXGHNRPSOH[GHV+RUVWV GHU *DVWIUHXQGVFKDIW ZDU QXU NXU] JHZHVHQ $EHU VLH KDWWH )HOOPHU /OR\G EHU]HXJW GD .URYRUV JURHV 9RONVIHVWLKPQLFKWVERWZDVHUQLFKWDXFKDQGHUQRUWVKlWWHILQGHQN|QQHQ(VZDU HEHQ HLQ )HVW ZLH VLH DQ MHGHP EHOLHELJHQ 7DJ LP 5HLFK GHU =Z|OI *DOD[LHQ VWDWWIDQGHQ'LH)HVWHVFKOR)HOOPHUZDUHQGD]XGDGLH8QWHUWDQHQGHU.ULHJHU YRQGHU%HVFKZHUOLFKNHLWGHV$OOWDJVLP6FKDWWHQGHV.ULHJHUNXOWVDE]XOHQNHQ
6HPELODQZDUYRP/HLWHUGHV+RUVWVHLQHP:HVHQPLWGHQ$E]HLFKHQGHVDFKWHQ 5DQJHVDQVHLQHP6KDQWIUHXQGOLFKEHJUWZRUGHQ,PPHUPHKUJHZDQQ)HOOPHU GHQ(LQGUXFNGHU*DZURQPVVHHLQUHLFKHU*OREHWURWWHUVHLQGHUQLFKWVDQGHUHV]X WXQ KDWWH DOV YRQ HLQHP )HVW ]XP lQGHUQ ]X UHLVHQ $XI 9DWRPDQGU\ MHGHQIDOOV NDQQWH PDQ LKQ JXW )HOOPHU /OR\G ZXUGH GLHVHOEH ]XYRUNRPPHQGH %HKDQGOXQJ ]XWHLO ZLH VHLQHP %HJOHLWHU ,Q VHLQHP $SSDUWHPHQW GDV DQ 6HPELODQV 8QWHUNXQIW JUHQ]WH IDQG HU VHLQ VSlUOLFKHV 5HLVHJHSl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lXVFKHGLHLKQVW|UWHQ 'LH 6KRZ ]HLJWH GHQ (ZLJHQ .ULHJHU .URYRU ZLH HU KLHU RGHU GRUW LQPLWWHQ GHU IHLHUQGHQ0HQJHDXIWDXFKWHOHXWVHOLJ)HVWEHVXFKHUEHJUWHDQHLQHP6FKDXNDPSI WHLOQDKP RGHU HLQH DXVJHODVVHQH +RUGH 9HUJQJXQJVVXFKHQGHU LQ HLQH 7UDXPKDOOH IKUWH 'LH 6HQGXQJ ZDU JU|WHQWHLOV OLYH ZXUGH MHGRFK KLQ XQG ZLHGHU YRQ (LQEOHQGXQJHQ XQWHUEURFKHQ GLH .URYRU DOV GHQ JURHQ 6FKLFNVDOPDFKHU ]HLJWHQ EHLP )HOG]XJ JHJHQ GDV 9RON GHU &KRNORUHQ GDV GHQ +HUUVFKDIWVDQVSUXFK GHV (ZLJHQ.ULHJHUVQLFKWJHOWHQODVVHQZROOWHXQGVHLQHQ6WDUUVLQQGXUFK$XVURWWXQJ EWHDXIGHU-DJGQDFKGHQYHUKDWHQ*RULPVGLHVLFKDQJHEOLFKLPPHUKlXILJHU LP 1HW] GHU &KDU\EGLVFKHQ 6LUHQHQ ILQJHQ DXI HLQHP 7UHIIHQ DOOHU =Z|OI (ZLJHQ .ULHJHU EHL GHP .URYRU VR ZROOWH HV ZHQLJVWHQV GLH 'DUVWHOOXQJ JODXEKDIW PDFKHQ GLH +DXSWUROOH VSLHOWH (V ZDU VRUJIlOWLJ DXVJHNOJHOWH XQG JHVFKLFNW ]XVDPPHQJHVWHOOWH 3URSDJDQGD 0HLVW HUVFKLHQ .URYRU LQ HLQHU GXUFK SVLRQLVFKH (IIHNWH XQWHUVWW]WHQ 3KDQWDVLHUVWXQJ GLH LKQ DOV JLJDQWLVFKHV :HVHQ GDUVWHOOWH 'DEHLZDUZLHMHGHUPDQQZXWHGHU(ZLJH.ULHJHUHLQVFKPlFKWLJJHEDXWHU3WHUXV QLFKWJU|HUXQGN|USHUOLFKQLFKWNUlIWLJHUDOVGHU6FKDOWHUEHDPWHDP6KXWWOH+DIHQ :HU MHGRFK GHQ :RUWHQ GHV 6SUHFKHUV ODXVFKWH ZHU .URYRU LQ $NWLRQ VDK GHU JHZDQQ GHQ (LQGUXFN GD HV LQ GHU :HLWH GHV 8QLYHUVXPV NHLQ PlFKWLJHUHV *HVFK|SIJDEDOVGHQ+HUUQYRQ'KDWDEDDU 'LH+ROR6KRZZXUGHLQDOOHQ+HUEHUJHQ*DVWKlXVHUQXQGVRQVWLJHQ8QWHUNQIWHQ MD VRJDU DXI GHQ 6WUDHQ GHU 6WDGW JH]HLJW1LHPDQGNRQQWHVLFKLKUHQW]LHKHQ:HU QDFK9DWRPDQGU\NDPGHUVROOWHJUQGOLFKVWEHUGLHDEVROXWH0DFKWVWHOOXQJ.URYRUV DXIJHNOlUW ZHUGHQ $XI GHP :HJ ]XP +RUVW GHU *DVWIUHXQGVFKDIW KDWWH )HOOPHU /OR\G YLHOH JHVHKHQ GLH EHLP $QEOLFN GHU %LOGHU LQ HLQHQ =XVWDQG DQEHWHQGHU 9HU]FNXQJYHUILHOHQDEHUDXFKHLQLJHGLHVLFKVWLOOXQGKHLPOLFKEHLVHLWHGUFNWHQ XQG GLH $XJHQ VFKO|VVHQ GDPLW LKQHQ ZHQLJVWHQV GHU RSWLVFKH 7HLO GHV SURSDJDQGLVWLVFKHQ7URPPHOIHXHUVHUVSDUWEOLHE)HOOPHUKDWWHLQ(UZlJXQJJH]RJHQ
EHLP +RUVW0DQDJHPHQW DQ]XIUDJHQ RE PDQ GLH 6HQGXQJ ZHQLJVWHQV ]HLWZHLVH DEVFKDOWHQ N|QQH (U KDWWH VFKOLHOLFK GDUDXI YHU]LFKWHW $XI 9DWRPDQGU\ ZDU HV ZDKUVFKHLQOLFK QLFKW NOXJ ]X]XJHEHQ GD PDQ VLFK YRQ GHU XQDXIK|UOLFKHQ 9HUKHUUOLFKXQJ.URYRUVDQJH|GHWIKOH $EHU VFKOLHOLFK KLHOW HU HV QLFKW PHKU DXV 'XUFK =XUXI YHUDQODWH HU GHQ .RPPXQLNDWLRQVDQVFKOX HLQH 9HUELQGXQJ PLW 6HPELODQV $SSDUWHPHQW KHU]XVWHOOHQ'HU*DZURQPHOGHWHVLFKVRIRUW6HLQ%LOGHUVFKLHQLQHLQHP]ZHLWHQ 9LGHRNXEXVQHEHQGHU+ROR6KRZ ³'X NHQQVW GLFK KLHU DXV VDJWH )HOOPHU ³*LEW HV HLQH 0|JOLFKNHLW .URYRUV 7ULXPSKJHVDQJDXV]XVFKDOWHQ" 6HPELODQV0LHQHVFKLHQhEHUUDVFKXQJXQG%HGHQNHQDXV]XGUFNHQ ³(VEHUUDVFKWPLFKGLFKGDVVDJHQ]XK|UHQDQWZRUWHWHHU³'XKDVWKRIIHQWOLFKPLW QLHPDQGDQGHUHPGDUEHUJHVSURFKHQ" ³1HLQVDJWH)HOOPHU ³*XW 'HU ,QWHUNRP LVW QLFKW GLH EHVWH 0|JOLFKNHLW GHLQH )UDJH ]X GLVNXWLHUHQ :HQQHVGLUQLFKWVDXVPDFKWNRPPHLFKGLFKEHVXFKHQ ³6HOEVW ZHQQ HV HLQHP JHOlQJH GHQ 0HFKDQLVPXV ]X ILQGHQ PLW GHP VLFK GLH hEHUWUDJXQJ XQWHUEUHFKHQ OLHH ZUGH GLHV GRFK VRIRUW UHJLVWULHUW 9RP VHOEHQ $XJHQEOLFNDQZlUHVWGXHLQ9HUGlFKWLJHUHLQ$XIUKUHU 6HPELODQ VSUDFK LQ GR]LHUHQGHP 7RQIDOO ZLH HLQ /HKUHU ]X HLQHP 6FKOHU GHU VFKRQGHV|IWHUHQ6\PSWRPHGHU%HJULIIVVWXW]LJNHLWKDWWHHUNHQQHQODVVHQ(UVDLQ HLQHP GHU PlFKWLJHQ EHTXHPHQ 6HVVHO GLH ]XU $XVVWDWWXQJ GHV JURHQ :RKQJHPDFKVJHKROIHQ ³.URYRU LVW GDUDQ LQWHUHVVLHUW IXKU HU IRUW ³GLH %HVXFKHU GHV )HVWHV PLW VHLQHU 0DFKW ]X EHHLQGUXFNHQ (U ZLOO LKQHQ NODUPDFKHQ GD HV LQ 'KDWDEDDU NHLQHQ DQGHUHQ+HUUQJLEWDOVLKQ(VZLUGGLUDXIJHIDOOHQVHLQGDGLH6HQGXQJSVLRQLVFK XQWHUOHJWLVW6LHEWHLQHQJHOLQGHQK\SQRWLVFKHQ(LQIOXDXIGHQ=XK|UHUDXV:HU YHUVXFKW VLFK GHU 6HQGXQJ ]X HQW]LHKHQ JLOW DXWRPDWLVFK DOV HLQHU GHU .URYRUV +HUUVFKDIWVDQVSUXFK LQ =ZHLIHO ]LHKW 'D LKP YRQ GLHVHP $XJHQEOLFN DQ GLH EHVRQGHUH $XIPHUNVDPNHLW GHU $JHQWHQ JLOW GLH .URYRU XQWHU GHU 9RONVIHVWPHQJH DXVJHVWUHXWKDWLVWVHOEVWYHUVWlQGOLFK )HOOPHU/OR\GZLQNWHDE ³*HQXJJHQXJULHIHU³,FKZLOOGLHVWlQGLJH%HULHVHOXQJJHUQHHUGXOGHQ0LUOLHJW QLFKWV GDUDQ .URYRU GLH 0DFKW VWUHLWLJ ]X PDFKHQ ,FK GDFKWH QXU LFK N|QQWH KLHU PHLQH5XKHKDEHQ ³'XNDQQVWDXIGLH6WUDHJHKHQXQGDP)HVWWHLOQHKPHQVFKOXJGHU*DZURQYRU ³$XI GHQ 6WUDHQ ZLUG GLH 6KRZ QLFKW EHUDOO JH]HLJW 6LH ZLUG DXFK ]XU 1DFKW DEJHVFKDOWHWGDPLWGLH%HVXFKHUXQJHVW|UWVFKODIHQN|QQHQ ³*UR]JLJEUXPPWH)HOOPHU 6HPELODQ VFKZLHJ HLQH =HLWODQJ $OV HU ZLHGHU ]X VSUHFKHQ EHJDQQ KDWWH VHLQH
6WLPPHHLQHQPHUNZUGLJHQ.ODQJ ³'X VFKHLQVW YRU GHP (ZLJHQ .ULHJHU .URYRU QLFKW DOO]XYLHO (KUIXUFKW ]X HPSILQGHQVDJWHHU )HOOPHUKRUFKWHQDFKGHQ*HGDQNHQGLHVLFKLQ6HPELODQV%HZXWVHLQDEVSLHOWHQ (LQHQGDYRQHPSILQJHUNODUXQGGHXWOLFK-HW]WLVWGLH*HOHJHQKHLW ³,FKZlUHHLQ1DUUZHQQLFKGDV]XJlEHDQWZRUWHWHHU ³'X EUDXFKVW HV QLFKW ]X]XJHEHQ VDJWH 6HPELODQ ³1LHPDQG HUIlKUW YRQ PLU ZDV ZLULQGLHVHP5DXPPLWHLQDQGHUVSUHFKHQ'XZHLWQLFKWYLHOEHUPLFK$XFKLFK ELQ HLQHU YRQ GHQHQ GLH GHU +HUUVFKDIW GHU (ZLJHQ .ULHJHU HKHU VNHSWLVFK JHJHQEHUVWHKHQ:HQQVLFKHLQHEHVVHUH0HWKRGHE|WHGLH]Z|OI*DOD[LHQ]XUHJLHUHQ XQGZHQQVLHHLQH&KDQFHKlWWHVLFKGXUFK]XVHW]HQLFKZlUHVRIRUWDXILKUHU6HLWH )HOOPHU WDW VR DOV K|UH HU DXIPHUNVDP ]X ,Q :LUNOLFKNHLW NRQ]HQWULHUWH HU VHLQH WHOHSDWKLVFKHQ6LQQHDXI6HPELODQV*HGDQNHQ*LOJLGK|UWHHU,FKNRPPH ³:RUDXIZLOOVWGXKLQDXV"IUDJWHHU ³'X ODQJZHLOVW GLFK DQWZRUWHWH 6HPELODQ EHUHLWZLOOLJ ³'X KDWWHVW GLU XQWHU GHP 9RONVIHVW PHKU YRUJHVWHOOW 'X ]ROOVW GHP .ULHJHU NHLQHQ DOO]X JURHQ 5HVSHNW 'X P|FKWHVWYLHOOHLFKWHLQ$EHQWHXHUHUOHEHQ" ³8QGZHQQGDVVRZlUH"HUNXQGLJWHVLFK)HOOPHUYRUVLFKWLJ ³'DQQN|QQWHLFKGLUYLHOOHLFKW]XHLQHPYHUKHOIHQ:LHZDU VPLW HLQHU %HVLFKWLJXQJ GHU XQWHUVWHQ (EHQH" .URYRUV %XUJ EHILQGHW VLFK GRUW 'X ZHLW GD GLH XQWHUVWH (EHQHJHVSHUUWLVW(UVWLQ]ZHL7DJHQ]XP(QGHGHV9RONVIHVWVZLUGVLHIUHLQSDDU 6WXQGHQJH|IIQHW ³'XN|QQWHVWPLUGHQ:HJ]HLJHQ"IUDJWH)HOOPHUXQGVWHOOWHVLFKPLWUDXLVFK ³,FK N|QQWH HV EHVWlWLJWH 6HPELODQ ³,FK NHQQH PLFK LP ,QQHUQ YRQ 9DWRPDQGU\ DXV ³8QGZDUXPZUGHVWGXGDVWXQ" 'HU *DZURQ OHKQWH VLFK LQ VHLQHP 6HVVHO ]XUFN 6HLQ *HKDEH KDWWH PLW HLQHPPDO HWZDV3RPS|VHVDQVLFK6HOEVWZHQQ)HOOPHU/OR\GQLFKWEHU]ZHLWDXVHQG-DKUH (UIDKUXQJLP8PJDQJPLWDQGHUHQ:HVHQJHKDEWKlWWHXQGQLFKW7HOHSDWKJHZHVHQ ZlUHKlWWHHU6HPELODQDQJHPHUNWGDHULQGLHVHQ$XJHQEOLFNHQXQDXIULFKWLJZDU ³6DJHQZLU(VJHKWPLUQLFKWDQGHUVDOVGLUDQWZRUWHWHHUJURVSXULJ³,FKKDEHVR YLHOH 9RONVIHVWH JHVHKHQ GD VLH PLU QLFKWV PHKU ]X ELHWHQ KDEHQ ,FK VXFKH GDV $EHQWHXHU0HLQ$QJHERWPLFKDOVGHLQHQ%HJOHLWHUUHJLVWULHUHQ]XODVVHQZDUQLFKW JDQ]XQHLJHQQW]LJ'DVP|FKWHLFKDQGLHVHU6WHOOHHLQJHVWHKHQ ³,FKYHUVWHKHGLFKQLFKWVDJWH)HOOPHU (UYHUVWDQGZLUNOLFKQLFKW$XFKLQ6HPELODQV%HZXWVHLQZDUGLH$QWZRUWQLFKW]X ILQGHQ(UGDFKWHDQ*LOJLGXQGGDUDQZLHHUHVDQVWHOOHQN|QQWHGHQ)UHPGHQ]XGHP JHIlKUOLFKHQ 9RUVWR LQ GLH XQWHUVWH (EHQH ]X EHUUHGHQ 'DEHL EHGXUIWH HV GHV hEHUUHGHQV OlQJVW QLFKW PHKU )HOOPHU KDWWH VHLQHQ (QWVFKOX JHIDW(UZUGHPLW 6HPELODQJHKHQ1XUGXUIWHHUVLFKQLFKWVROHLFKWEHU]HXJHQODVVHQVRQVWVFK|SIWH GHUDQGHUH9HUGDFKW
³1HXOLQJH VLQG QHXJLHULJ DQWZRUWHWH GHU *DZURQ ³.URYRU LVW GDUDQ LQWHUHVVLHUW GD VLH VR YLHO ZLH P|JOLFK YRQ 9DWRPDQGU\ ]X VHKHQ EHNRPPHQ 0LW MHGHP (LQGUXFN GHU VLFK LKUHP %HZXWVHLQ HLQSUlJW ZlFKVW LKUH hEHU]HXJXQJ GD GHU (ZLJH.ULHJHUXQEHVLHJEDUXQG]XGHPHLQJHUHFKWHU+HUUVFKHULVW 'LH 1HXJLHUGH HLQHV VROFKHQ GHU 9DWRPDQGU\ ]XP HUVWHQPDO EHVXFKW N|QQWH VR ZHLWJHKHQGDHU.URYRUV%XUJ]XVHKHQZQVFKWQRFKEHYRU GLHXQWHUVWH(EHQH GHP DOOJHPHLQHQ %HVXFK JH|IIQHW ZLUG :HQQ GHU 1HXOLQJ HLQHQ %HJOHLWHU KlWWH HLQHQ RIIL]LHOO UHJLVWULHUWHQ %HJOHLWHU PHLQH LFK GDQQ ZUGH LKP GLHVHU HLQ VROFKHV 9RUKDEHQ QDWUOLFK DXV]XUHGHQ YHUVXFKHQ $EHU JHVHW]W GHQ )DOO GHU 1HXOLQJ ZlUH KDUWQlFNLJ (U N|QQWH GHQ %HJOHLWHU OHW]WHQ (QGHV EHUUHGHQ HLQHQ 9HUVXFK]XZDJHQ 1DWUOLFKOlXIWPDQEHLHLQHPVROFKHQ9RUKDEHQ*HIDKUJHIDW]XZHUGHQ.URYRUV :lFKWHU VLQG EHUDOO 1LPP DQ LFK DOOHLQ XQWHUQlKPH HV PLFK KHLPOLFK LQ GLH XQWHUVWH(EHQH]XVWHKOHQXQGZUGHGDEHLIHVWJHQRPPHQ6HPELODQEHNlPHLFK GDQQ ]X K|UHQ GX KDVW GLHVHV )HVW PLQGHVWHQV VFKRQ IQIPDOEHVXFKW'XNHQQVW GLH 9RUVFKULIWHQ XQG KDVW GHQQRFK JHJHQ VLH YHUVWRHQ 'LFK WULIIW GLH KlUWHVWH 6WUDIH 6RZUGHPDQ]XPLUVSUHFKHQ ³:HQQ GX DEHU GHU %HJOHLWHU HLQHV 1HXOLQJV ZlUHVW GHU GLU NHLQH 5XKH JHODVVHQ KDWELVGXDXIVHLQHQ:XQVFKHLQJLQJVWGDQQNlPHVWGXOHLFKWHUHQ.DXIVGDYRQ VDJWH)HOOPHU ³6R LVW HV EHVWlWLJWH 6HPELODQ ³'LU ZUGH PDQ GLH 6WUDIWDW QLFKW DOO]X EHO DQUHFKQHQZHLOGXDXI9DWRPDQGU\QHXELVW'XNHQQVWGLH5HJHOQQLFKW8QGPLU KLHOWHPDQ]XJXWHGDLFKPLFKDXIGLH6DFKHQXUHLQOLHZHLOLFKYRQGLUJHGUlQJW ZXUGH ³0KP PDFKWH )HOOPHU ³+|UW VLFK SODXVLEHO DQ 0LW ZHOFKHU 6WUDIH KlWWHQ ZLU ]X UHFKQHQ" ³(V OLHIH DXI HLQH *HOGVWUDIH KLQDXV DQWZRUWHWH GHU *DZURQ ³:HQQ HV GLU DQ )LQDQ]PLWWHOQPDQJHOWN|QQWHLFKGLUDXVKHOIHQ )HOOPHU PDFKWH HLQH *HVWH GLH ]XP $XVGUXFN EUDFKWH GD HU VLFK EHU *HOG QLFKW GHQ.RSI]HUEUDFK ³:LHJURLVWGLH&KDQFHGDZLUJHIDWZHUGHQ"ZROOWHHUZLVVHQ ³$XIGHQ:HJHQGLHLFKNHQQH"(LQV]XQHXQ )HOOPHUVWDQGDXI ³(LQYHUVWDQGHQVDJWHHU³'DVPDFKHQZLU 'DV OHW]WH ZDV HU HPSILQJ ZDU 6HPELODQV WULXPSKLHUHQGHU *HGDQNH (V LVW JHOXQJHQ 6LH HUUHLFKWHQ XQDQJHIRFKWHQ GLH HOIWH (EHQH $OV VLH DXV GHP $QWLJUDYVFKDFKW WUDWHQ ZDU GLH 1DFKW KHUHLQJHEURFKHQ 'LH +HOLRODPSHQGLHXQPLWWHOEDUXQWHUGHU 'HFNH HLQHU MHGHQ (EHQH ]X .HWWHQ DQJHRUGQHW ZDUHQ OHXFKWHWHQ QLFKW PHKU $Q LKUHU 6WDWW EOLQNWHQ XQG IODFNHUWHQ GLH PDWWHQ /HXFKWSXQNWH ILNWLYHU 6WHUQH
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lKUHQG GHU 1DFKW ZDU GHU 3DUNSODW] VHLWOLFK GHU 6WUDH OHHU (V JDE MHGRFK PHKUHUH 5XIVlXOHQ PLW GHQHQ VLFK DXFK GHU QlFKWOLFKH %HVXFKHU HLQ 7UDQVSRUWPLWWHO EHVFKDIIHQNRQQWH 6HPELODQ EHWlWLJWH HLQH GHU 6lXOHQ .QDSS HLQH 0LQXWH VSlWHU VFKZHEWH HLQ VHFKVVLW]LJHU *OHLWHU KHUEHL |IIQHWH EHUHLWZLOOLJ GLH (LQVWLHJVOXNH XQG HUNXQGLJWH VLFKPLWGHUVDQIWHQ6WLPPHGHV$XWRSLORWHQQDFKGHQ:QVFKHQGHU5HLVHQGHQ ³'DNV+DXVVDJWH6HPELODQ ³6LHGOXQJ3UHPEDQJ"ZROOWHGHU$XWRSLORWVLFKYHUJHZLVVHUQ ³5LFKWLJEHVWlWLJWH6HPELODQ 'DV )DKU]HXJ VHW]WH VLFK LQ %HZHJXQJ (V JOLWW LQ ZHQLJHQ 0HWHUQ+|KHEHUGLH 6WUDH GDKLQ 6HPELODQ KLHOW HV QDFKGHP HU VLFK EHU HLQH 6WXQGH ODQJ K|FKVW ZRUWNDUJ JHJHEHQ KDWWH MHW]W RIIHQEDU IU QRWZHQGLJ VHLQHQ %HJOHLWHU HLQ ZHQLJ PHKUEHUVHLQH3OlQHZLVVHQ]XODVVHQ ³'LODN LVW HLQHU DXV PHLQHP 9RON VDJWH HU ³(LQ WUHXHU 'LHQHU GHV (ZLJHQ .ULHJHUV(UZLUGGLU]HLJHQZDVGXVHKHQZLOOVW )HOOPHUYHUVWDQGGDHUVLFKYRUVLFKWLJDXVGUFNHQPXWH'HU$XWRSLORWK|UWHPLW ³'XNHQQVW'LODNVFKRQODQJH"IUDJWHHU ³6HLWPHLQHPHUVWHQ%HVXFKDQWZRUWHWH6HPELODQ³,FKP|FKWHLKQPHLQHQ)UHXQG QHQQHQ 0DQ PX HV YHUVWHKHQ PLW LKP XP]XJHKHQ (U LVW HLQ ZHQLJ EHVFKUlQNW ZHQQGXYHUVWHKVWZDVLFKPHLQH $OV GLH +HOOLJNHLW EHU GHU 6LHGOXQJ VLFK LQ HLQ]HOQH /LFKWSXQNWH DXI]XWHLOHQ EHJDQQYHU]ZHLJWHVLFKGLH6WUDH'LH6LHGOXQJEHVWDQGDXV]LUND*HElXGHQ XQWHUVFKLHGOLFKVWHU %DXIRUP 'LH PHLVWHQ ODJHQ XQPLWWHOEDU DQ GHU EUHLWHQ 6WUDH (V JDE MHGRFK HLQH 5HLKH VFKPDOHU 6HLWHQVWUDHQ GLH LQ UHFKWHP :LQNHO YRP +DXSWYHUNHKUVZHJ IRUW IKUWHQ ,Q HLQH VROFKH ERJ GHU *OHLWHU DE 'LH +lXVHU ]XPHLVWLQDXVJHGHKQWHQ*lUWHQOLHJHQGZDUHQGXQNHO'LH%HZRKQHUGHU6LHGOXQJ 3UHPEDQJVFKOLHIHQ1XUGLH6WUDHQZDUHQEHOHXFKWHW'DV)DKU]HXJKLHOWYRUHLQHU KRKHQ +HFNH (LQ VFKPDOHU 'XUFKJDQJ IKUWH GXUFK GDV *HVWUlXFK 'HU *OHLWHU HQWIHUQWH VLFK QDFKGHP GLH EHLGHQ )DKUJlVWH DXVJHVWLHJHQ ZDUHQ 6HPELODQ XQG )HOOPHU/OR\GWUDWHQGXUFKGLH/FNHLP*HEVFK(LQVFKPDOHU3IDGIKUWHGXUFK JUDVLJHV PLW HLQ]HOQHQ %lXPHQ EHVWDQGHQHV *HOlQGH ]X HLQHP NOHLQHQ +DXV GDV YRUOlXILJQXUDOVIODFKHU6FKDWWHQ]XHUNHQQHQZDU
1RFKNHLQH]HKQ6FKULWWHKDWWHQGLHEHLGHQQlFKWOLFKHQ%HVXFKHUJHWDQGDVFKDOOWH LKQHQDXVHLQHPGHU%lXPHHLQHVFKULOOH6WLPPHHQWJHJHQ ³:HUKDWYRU'LODN]XVRXQJHZ|KQOLFKHU6WXQGH]XVW|UHQ" 6HPELODQEOLHEVWHKHQXQGDQWZRUWHWHLQ5LFKWXQJGHV%DXPHV ³,FKELQ6HPELODQ'LODNV)UHXQG ³6HPELODQLVWJXWVDJWHGLH6WLPPH³$EHULFKVHKH]ZHL 6HPELODQOHJWH)HOOPHU/OR\GGLH+DQGDXIGLH6FKXOWHU ³'LHVLVW)HOOPHU$XFKHULVWPHLQ)UHXQG ³1XQJXW'XYHUEUJVWGLFKIULKQ" ³'DVWXHLFK,FKELQDOVVHLQ%HJOHLWHUUHJLVWULHUW ³*HKWZHLWHUVDJWHGLH6WLPPH³'LODNZLUGHXFKHPSIDQJHQ 'LH 7U GHV +DXVHV |IIQHWH VLFK VHOEVWWlWLJ %HOHXFKWXQJ IODPPWH DXI 6HPELODQ EHQDKPVLFKDOVVHLHUKLHU]X+DXVH'XUFKHLQHQNXU]HQ)OXUIKUWHHU)HOOPHULQ HLQHQ VSDUWDQLVFK HLQJHULFKWHWHQ :RKQUDXP 'LODN HUVFKLHQ ZHQLJH $XJHQEOLFNH VSlWHU(UZDUGUUXQGKRFKJHZDFKVHQ'LH%UDXHQZOVWHEHUVHLQHQ$XJHQZDUHQ VR NUlIWLJ DXVJHELOGHW GD GLH HLJHQWOLFKH 6WLUQ GDJHJHQ IODFK XQG YHUNPPHUW ZLUNWH 'LH NDUJH (LQULFKWXQJ GHV :RKQUDXPV VFKLHQ VHLQHU 0HQWDOLWlW ]X HQWVSUHFKHQGHQQDXFKVHLQH.OHLGXQJZDUEHPHUNHQVZHUWDQVSUXFKVORV(UWUXJHLQ VDFNlKQOLFKHV*HZDQGYRQHLQIDOOVORVHP6FKQLWWXQGWULVWHUJUDXHU)DUEH)HOOPHU EUDXFKWH QXU IQI 6HNXQGHQ XP VHLQHQ *HGDQNHQLQKDOW ]X XQWHUVXFKHQ XQG ]X HUNHQQHQ GD 6HPELODQ EHL GHU &KDUDNWHULVLHUXQJ VHLQHV )UHXQGHV HKHU XQWHUWULHEHQKDWWH'LODNGDFKWHQLFKWYLHOXQGGDVZHQLJHEHVFKUlQNWHVLFKDXIGLH DXJHQEOLFNOLFKH6LWXDWLRQ(UZXQGHUWHVLFKEHUGHQQlFKWOLFKHQ%HVXFK 6HPELODQDOOHUGLQJVNDQQWHVLFKDXV(UZXWHZLHVHLQEHVFKUlQNWHU)UHXQGDXVGHU =XUFNKDOWXQJ ]X ORFNHQ ZDU $XV HLQHU VHLQHU 7DVFKHQ EUDFKWH HU HLQH +DQGYROO ZLQ]LJHUJOLW]HUQGHU*HJHQVWlQGH]XP9RUVFKHLQXQGUHLFKWHVLH'LODN ³,FKKDEHGLFKODQJHQLFKWPHKUJHVHKHQPHLQ)UHXQGVDJWHHUGD]X³1LPPGLHV DOV=HLFKHQPHLQHU)UHXQGVFKDIWXQGYHU]HLKXQVGDZLUGLFK]XVRVSlWHU6WXQGH EHOlVWLJHQ 'LODN JULII EHJHLVWHUW ]X ,Q VHLQHQ *HGDQNHQ HUNDQQWH )HOOPHU HFKWH )UHXGH (U ZXWHQLFKWZDV6HPELODQLKPJHJHEHQKDWWHDEHUHUQDKPQLFKWDQGDHVHWZDV ZLUNOLFK .RVWEDUHV JHZHVHQ VHL (LQ :HVHQ ZLH 'LODN IUHXWH VLFK EHU MHGH .OHLQLJNHLW ³6HLGPLUZLOONRPPHQLKUEHLGHVDJWHHU(UVSUDFKODQJVDPXQGPLW%HGDFKWDOV PVVHHUVLFKDQHWZDV(LQVWXGLHUWHVHULQQHUQ³6SlWRGHUQLFKWLFKVHKHHXFKJHUQ /DWPLFKHXFKEHZLUWHQ 6HPELODQXQWHUEUDFKLKQPLWHLQHUDEZHKUHQGHQ*HVWH ³'HLQH *DVWIUHXQGVFKDIW ZHUGHQ ZLU HLQ DQGHUPDO JHQLHHQ VDJWH HU ³+HXWH NRPPHQZLUDXVHLQHPJDQ]EHVWLPPWHQ*UXQG (LQ EUHLWHV *ULQVHQ HUVFKLHQ DXI 'LODNV *HVLFKW (U KDWWH 6HPELODQV $QOLHJHQ HUUDWHQ
³,KUZROOWGHQ6WROOHQVHKHQULHIHU 6HPELODQJDEHLQHQ]LVFKHQGHQ:DUQODXWYRQVLFK ³6HLYRUVLFKWLJZRYRQGXVSULFKVWHUPDKQWHHU'LODN ³2KKLHUK|UWXQVQLHPDQGZLQNWHGHU%HVFKUlQNWHDE³,FKELQHLQWUHXHU'LHQHU GHV(ZLJHQ.ULHJHUVXQGZHUGHQLHPDOVHWZDV9HUERWHQHVWXQ'HQQLFKZHLGD GXQLFKWV8QUHFKWHVXQWHUQLPPVWDXFKZHQQLFKHXFKGHQ6WROOHQ]HLJH ³'DZHLWGXGDV5HFKWHDQWZRUWHWH6HPELODQ³,FKZUGHQLHHWZDVWXQZRGXUFK LFKGLFKLQ*HIDKUEUlFKWH )HOOPHU K|UWH VHLQHQ *HGDQNHQ ]X (U ZDU EHUUDVFKW 6HPELODQ ZDU VLFK GHVVHQ QLFKW EHZXW GD HU VRHEHQ HLQH /JH DXVJHVSURFKHQ KDWWH 'DEHL ZDU HV VHLQH $EVLFKWGDV*HIlQJQLVDXI]XVXFKHQLQGHP*LOJLGIHVWJHKDOWHQZXUGH6LFKHUGRFK JDOW GDV DOV HLQ HUQVWKDIWHV 9HUJHKHQ XQG ZHQQ VLFK KHUDXVVWHOOWH ZHOFKH 5ROOH 'LODN EHL GLHVHP 8QWHUQHKPHQ JHVSLHOW KDWWH ZUGH PDQ UHFKW KDUW PLW LKP LQV *HULFKW JHKHQ 'RFK GDUDQ GDFKWH 6HPELODQ QLFKW 6HLQH *HGDQNHQ NRQ]HQWULHUWHQ VLFKDXIGHQ9RUVWRKLQXQWHU]XU]Z|OIWHQ(EHQH ³'DQQNRPPWVDJWH'LODN³,FKZLOOHXFK]HLJHQZDVLKU]XVHKHQZQVFKW (U IKUWH VHLQH *lVWH LQ HLQHQ NOHLQHQ NDKOHQ 5DXP (LQ WHSSLFKlKQOLFKHU %RGHQEHODJZXUGH]XU6HLWHJHUlXPW(LQH)DOOWUNDP]XP9RUVFKHLQ'LODNKRE GHQ 9HUVFKODJ (LQ ILQVWHUHU 6FKDFKW IKUWH LQ GLH 7LHIH ,P 6FKHLQ GHU 'HFNHQEHOHXFKWXQJZDUHLQ3IDKO]XVHKHQLQGHVVHQ2EHUIOlFKHSULPLWLYH.HUEHQ JHVFKQLWWHQZDUHQ ³+LHU JHKW HV KLQXQWHU HUNOlUWH 'LODN ³,KU ZHUGHW HXFK VHOEVW ]XUHFKWILQGHQ PVVHQ(VJLEWNHLQ/LFKWGRUWXQWHQ ³,FKZHLDQWZRUWHWH6HPELODQHLQZHQLJXQJHGXOGLJ³,FKZDUVFKRQGHV|IWHUHQ KLHU(ULQQHUVWGXGLFK" ³$Q VR HWZDV HULQQHUH LFK PLFK QLH VDJWH 'LODN PLW YHUEOIIHQGHU (LQIDOW ³(V ]DKOWVLFKDXVZHQQPDQVROFKH(ULQQHUXQJHQVRUDVFKZLHP|JOLFKYHUOLHUW ³/D XQV DOOHLQ PHLQ )UHXQG IRUGHUWH 6HPELODQ LKQ DXI ³*HKZLHGHU]XU5XKH :LUZHUGHQGRUWXQWHQHLQSDDU6WXQGHQEUDXFKHQ:HQQZLU]XUFNNRPPHQGDUIVW GXXQVEHZLUWHQ(VVROOGHLQ6FKDGHQQLFKWVHLQ ³-DMDPDFKWH'LODN³'XZDUVWLPPHUUHFKWJUR]JLJ (U JLQJ 6HPELODQ ZDUWHWH ELV GLH 7U VLFK KLQWHU LKP JHVFKORVVHQ KDWWH 'DQQ VFKZDQJ HU VLFK EHU GHQ 5DQG GHU )DOOWU XQG EHNDP PLW EHUUDVFKHQGHU *HVFKLFNOLFKNHLW GHQ .OHWWHUSIDKO ]X IDVVHQ 2KQH QRFK HLQ ZHLWHUHV :RUW ]X YHUOLHUHQ VWLHJ HU QDFK XQWHQ XQG ZDU ZHQLJH $XJHQEOLFNH VSlWHU DXV GHP /LFKWNUHLVGHU/DPSHYHUVFKZXQGHQ )HOOPHU/OR\GIROJWHLKP'HU3IDKOIKUWHYLHU0HWHUZHLWLQGLH7LHIH,Q]ZLVFKHQ KDWWH6HPELODQHLQ/lPSFKHQHLQJHVFKDOWHWGDVHUYRUVRUJOLFKPLWJHEUDFKWKDWWHXQG HV DQ HLQHP 7UlJHU VHLQHV EXQWHQ *HZDQGV EHIHVWLJW )HOOPHU EOLFNWH LQ HLQHQ ODQJJHVWUHFNWHQ 5DXP GHU PLW SULPLWLYHQ 0LWWHOQ DXV GHP V\QWKHWLVFKHQ *HVWHLQ
KHUDXVJHKDXHQ ]X VHLQ VFKLHQ :lQGH 'HFNH XQG %RGHQ ZDUHQ XQHEHQ ,P +LQWHUJUXQGHUKREVLFKDXIJHWUPWHV*HUXPSHO ³'RUWVDJWH6HPELODQ 0LW GHQ +lQGHQ EHJDQQ HU GHQ $EIDOO EHLVHLWH ]X UlXPHQ (U HQWZLFNHOWH GDEHL HLQHQ(LIHUGHU)HOOPHU/OR\GVLFKHUOLFKDXIJHIDOOHQZlUHZHQQHUQLFKWVFKRQVHLW ODQJHPJHZXWKlWWHGDGHU*DZURQHWZDVJDQ]DQGHUHVLP6FKLOGIKUWHDOVHLQHP QHXJLHULJHQ(UVWEHVXFKHUGHU)HVWXQJ9DWRPDQGU\GLHYHUERWHQH]Z|OIWH(EHQH]X ]HLJHQ )HOOPHU JULII HEHQIDOOV ]X ,Q ZHQLJHU DOV ]ZHL 0LQXWHQ KDWWHQ VLH GDV *HUXPSHO ]XU 6HLWH JHVFKDIIW 'DKLQWHU NDP HLQ QLHGULJHU 6WROOHQHLQJDQJ ]XP 9RUVFKHLQ NDXP PHKU DOV HLQ /RFK GXUFK GDV PDQ PLW 0KH HEHQQRFKNULHFKHQ NRQQWH ³:HLWHUGULQQHQZLUGHVEHTXHPHUVDJWH6HPELODQ³hEULJHQVKDEHQZLUQLFKWZHLW ]XJHKHQ 'LH %HPHUNXQJ ZDU IU )HOOPHU /OR\G ]XQlFKVW XQYHUVWlQGOLFK 'LH V\QWKHWLVFKHQ )HOVVFKLFKWHQ GLH GLH HLQ]HOQHQ (EHQHQ GHU )HVWXQJ YRQHLQDQGHU WUHQQWHQ ZDUHQ YRQXQWHUVFKLHGOLFKHU'LFNH*HUDGHGLHDEHUGLHGLH'HFNHGHV]Z|OIWHQ1LYHDXV ELOGHWH EHVD HLQH 6WlUNH YRQ PHKU DOV HLQHP .LORPHWHU $XHUGHP ZUGH 6HPELODQV =LHO LUJHQGZR LQ %RGHQQlKH OLHJHQ 'DV EHGHXWHWH HLQH ]XVlW]OLFKH 6WUHFNHYRQ]ZHL.LORPHWHUQ:DVPHLQWHHUZHQQHUVDJWHVLHKlWWHQQLFKWZHLW]X JHKHQ" :lKUHQGHUKLQWHU6HPELODQKHUNURFKODXVFKWH)HOOPHUGHQ*HGDQNHQGHV*DZURQ 'DZXUGHLKPDOOHUGLQJVEDOGNODUZLHGHUVFKHLQEDUZLGHUVSUFKOLFKH+LQZHLV]X YHUVWHKHQ ZDU 6HPELODQ GDFKWH DQ GLH JURHQ +RKOUlXPH GLH LQ GLH )HOVVFKLFKW HLQJHEHWWHW ZDUHQ ,Q GHQ +RKOUlXPHQ ZDUHQ .UDIWZHUNH XQWHUJHEUDFKW GLH GLH )HVWXQJ PLW (QHUJLH YHUVRUJWHQ $QODJHQ ]XU /XIWHUQHXHUXQJ XQG 3URMHNWRU %DWWHULHQ ]XU (U]HXJXQJ GHV NQVWOLFKHQ 6FKZHUHIHOGV ZDUHQ KLHU LQVWDOOLHUW 6lPWOLFKH 5lXPH ZDUHQ YRQ REHQ HEHQVR ZLH YRQ XQWHQ KHU GXUFK $QWLJUDYVFKlFKWH]XHUUHLFKHQ0LW+LOIHGHU6FKlFKWHJHGDFKWH6HPELODQVLFKGLH 0KHGHV.ULHFKHQVXQG*HKHQV]XHUVSDUHQ6LHZUGHQQLFKWPHKUDOVHLQHKDOEH 6WXQGH EUDXFKHQ HQWQDKP )HOOPHU GHQ *HGDQNHQ GHV *DZURQ XP GHQ %RGHQ GHU XQWHUVWHQ(EHQH]XHUUHLFKHQ ,QVJHKHLP EHZXQGHUWH GHU 0XWDQW GLH PHQWDOH 'LV]LSOLQ VHLQHV %HJOHLWHUV 6HPELODQV $XIPHUNVDPNHLW NRQ]HQWULHUWH VLFK HLQ]LJ XQG DOOHLQ DXI GHQ :HJ 0LW NHLQHP *HGDQNHQ GDFKWH HU DQ *LOJLG (V ZDU LKP GDUXP ]X WXQ DXI GHP VFKQHOOVWHQ :HJ DQV =LHO ]X JHODQJHQ 'DV =LHO VHOEVW GDJHJHQ NDP LQ VHLQHQ hEHUOHJXQJHQQLFKWYRU ,P *UXQGH JHQRPPHQ ZDU )HOOPHU GHU *DZURQ HLQ 5lWVHO 'D HU LKQ GHQ 1HXOLQJDXVQXW]WHXPLP)DOOHHLQHU(QWGHFNXQJDXIGHU]Z|OIWHQ(EHQHPLWHLQHU JHULQJHUHQ 6WUDIH GDYRQ]XNRPPHQ QDKP HU LKP NDXP EHO (U VHOEVW KlWWH LQ 6HPELODQV/DJHZRKOlKQOLFKJHKDQGHOW'LH$UWZLH'LODNYRQ6HPELODQDQJHORJHQ
ZRUGHQZDUVW|UWHLKQVFKRQHKHU'DGHP*DZURQVHOEVWGLH/JHQLFKWEHZXW JHZHVHQ ZDU YHUVWDQG HU LPPHU QRFK QLFKW 8QG VFKOLHOLFK HUVFKLHQ LKP VHOEVW GLHJHLVWLJH'LV]LSOLQGLH6HPELODQDQGHQ7DJOHJWHK|FKVWPHUNZUGLJXPQLFKW ]XVDJHQXQQDWUOLFK'DV=LHO*LOJLG]XEHIUHLHQKDWWHHUVLFKQLFKWDXV)ULYROLWlW JHVWHFNW(UJLQJHLQJHZDOWLJHV5LVLNRHLQ'HQQZHQQHUDXIGHU)OXFKWLQ*LOJLGV %HJOHLWXQJJHIDWZXUGHGDQQQW]WHLKPDXFKVHLQ6WDWXVDOVRIIL]LHOOHU%HJOHLWHU QLFKWV PHKU (V PXWHQ VWDUNH %HZHJJUQGH VHLQ GLH LKQ ]X HLQHP GHUDUW JHIDKUYROOHQ 8QWHUQHKPHQ YHUDQODWHQ %LVKHU KDWWH )HOOPHU JHJODXEW 6HPELODQV 0RWLY VHL GDVVHOEH ZLH GDV VHLQH /LHEH $EHU ZlKUHQG )HOOPHU IDVW XQXQWHUEURFKHQDQ*LOJLGGDFKWHKDWWHGHU*DZURQVLHY|OOLJDXVVHLQHQ*HGDQNHQ YHUEDQQW :LH NRQQWH GDV VHLQ" )U HLQHQ $XJHQEOLFN NDP )HOOPHU GHU 9HUGDFKW 6HPELODQKlWWHHLQHQDQGHUHQ*UXQGIUVHLQ9RUJHKHQ9LHOOHLFKWZROOWHHU*LOJLG GHP (ZLJHQ .ULHJHU DEQHKPHQ XP VLFK DQ LKP ]X UlFKHQ :RP|JOLFK KDWWH HU VHOEVWYRUGDV9RONGHU.LRMDPLWVHLQHU)UVWLQ]XHUSUHVVHQ $EHU GDV DOOHV HUJDE NHLQHQ 6LQQ :DV 6HPELODQ EHZHJWH NRQQWH )HOOPHU QLFKW HUNHQQHQ(UEOLHELKPHLQ5lWVHO 1DFK HWZD DFKW]LJ 0HWHUQ ZXUGH GHU 6WROOHQ EUHLWHU XQG K|KHU 6LH NRQQWH MHW]W DXIUHFKW JHKHQ 0LW +LOIH GHV *UDYR3DNV ZlUH )HOOPHU ZHLWDXV VFKQHOOHU YRUDQJHNRPPHQ$EHUELVMHW]WZXWH6HPELODQQRFKQLFKWVYRQGHU9LHOIDOWVHLQHU $XVVWDWWXQJ XQG VRODQJH HV GLH /DJH QLFKW DQGHUV GLNWLHUWH ZROOWH HU VHLQH WHFKQLVFKHQ*HKHLPQLVVHDXFKZHLWHUKLQIUVLFKEHKDOWHQ 'HU*DZURQEOLHESO|W]OLFKVWHKHQXQGVFKDOWHWHVHLQH/DPSHDXV 6HNXQGHQVSlWHU VDK)HOOPHUZHLWLP+LQWHUJUXQGHLQHQ/LFKWSXQNW ³9RQGRUWDXVZLUGHVOHLFKWHUVDJWH6HPELODQ 'HU 6WROOHQ PQGHWH XQPLWWHOEDU LQ HLQHQ $QWLJUDYVFKDFKW YRQ EHGHXWHQGHP 'XUFKPHVVHU (U ZDU RKQH =ZHLIHO IU GHQ 7UDQVSRUW XPIDQJUHLFKHU /DVWHQ GLPHQVLRQLHUW 'LH %HOHXFKWXQJ ZDU VFKZDFK 6HPELODQ WUDW DXV GHP 6WROOHQ XQG VDQNODQJVDPLQGLH7LHIH)HOOPHUIROJWHLKP(UVWLHVLFKHLQZHQLJQDFKREHQDE 'LH.UDIWGHV$EVWRHVXQGGHU6RJGHU*UDYLWDWLRQNRPSHQVLHUWHQHLQDQGHUVRGD HUHLQSDDU6HNXQGHQODQJDXIGHUVHOEHQ+|KHPLWGHU6WROOHQPQGXQJVFKZHEWH'DV EHUPDQQVKRKH /RFK ZDU VHOEVW LQ GHU XQ]XOlQJOLFKHQ %HOHXFKWXQJ GHXWOLFK ]X VHKHQ:LHKDWWHHVVRODQJHH[LVWLHUHQN|QQHQRKQHEHPHUNW]XZHUGHQ" 6HPLEODQ VFKLHQ VHLQH *HGDQNHQ ]X HUUDWHQ 9RQ XQWHQ HUVFKDOOWH VHLQH 6WLPPH ³'HU 6FKDFKW LVW Y|OOLJ XQJHIlKUOLFK +LHU ZHUGHQ QXU /DVWHQ WUDQVSRUWLHUW 5RERWHU RGHU RUJDQLVFKH :HVHQ EHQW]HQ DQGHUH =XJlQJH 'DV KDEH LFK YRQ 'LODN (U HQWGHFNWHGHQ6WROOHQNXU]QDFKGHPHULQGDV+DXVLQ3UHPEDQJHLQTXDUWLHUWZXUGH 'DV NODQJ SODXVLEHO )HOOPHU VXFKWH LQ 6HPELODQV *HGDQNHQ XQG IDQG NHLQ $Q]HLFKHQGDHUGLH8QZDKUKHLWJHVDJWKDWWH9LHOZDUGHU7URVWDOOHUGLQJVQLFKW ZHUW$XFK'LODNKDWWHHUDQJHORJHQRKQHGDHVLKPEHZXWJHZRUGHQZDU 'LH 6FKlW]XQJ GLH 6HPELODQ LQ *HGDQNHQ DQJHVWHOOW KDWWH HUZLHV VLFK DOV ULFKWLJ
(VIHKOWHQQRFKHLQHRGHU]ZHL0LQXWHQDQHLQHUKDOEHQ6WXQGHGDODJGLH]Z|OIWH GLH YHUERWHQH (EHQH YRU LKQHQ $XFK KLHU ZDU HV 1DFKW 'LH +HOLRVWUDKOHU ZDUHQ HUORVFKHQ$EHUGLH'XQNHOKHLWZDUYRQDQGHUHU4XDOLWlWDOVDXIGHQK|KHUJHOHJHQHQ 1LYHDXV (LQ XQEHUVHKEDUHV 0HHU YRQ NQVWOLFKHQ 6WHUQHQ SUDQJWH XQWHU GHU )HOVHQGHFNH ,Q GDV SKDQWDVWLVFKH *HZLPPHO GHU /LFKWSXQNWH HLQJHEHWWHW ODJHQ GLH QHEOLJ OHXFKWHQGHQ )OHFNH YRQ HOI *DOD[LHQ 'DV 6WHUQHQPHHU YHUN|USHUWH GLH *DOD[LV 'KDWDEEDU GLH EULJHQ HOI 6WHUQHQLQVHOQ NRPSOHWWLHUWHQ GDV %LOG GHV 5HLFKHV GHU (ZLJHQ .ULHJHU 6RZHLW )HOOPHU /OR\G LQ GHU (LOH HUNHQQHQ NRQQWH ZDUHQGLH*DOD[LHQLQGHUULFKWLJHQUlXPOLFKHQ$QRUGQXQJZHQQDXFKZHQLJVWHQV XPHLQHQ)DNWRUYHUJU|HUWGDUJHVWHOOW 'HU :HJ KHUDE ZDU HLQH +HW]MDJG JHZHVHQ 6HPELODQ KDWWH VHLQH (LOH GDPLW ]X UHFKWIHUWLJHQ JHVXFKW GD VLH GLH ]Z|OIWH (EHQH ZLHGHU YHUODVVHQ KDEHQ PXWHQ ZHQQ GHU 7DJ DQEUDFK )HOOPHU ZDU HV UHFKW JHZHVHQ (U JODXEWH *LOJLGV 1lKH N|USHUOLFK ]X VSUHQ 'LH 6HKQVXFKW WULHE LKQ DQ 6LH ZDUHQ GXUFK GUHL YHUVFKLHGHQH$QWLJUDYVFKlFKWHJHIDOOHQXQGKDWWHQ]ZHLULHVLJHPLW0DVFKLQHQGHU .ULHJHUWHFKQLN JHIOOWH +DOOHQ LP /DXIVFKULWW GXUFKTXHUW 'HU 6\QWURQ LQ )HOOPHUV 1HW]NRPELQDWLRQKDWWHDOOH(LQGUFNHGLHVLFKLKPERWHQJHWUHXOLFKDXIJH]HLFKQHW )HOOPHUZUGHHLQLJHVYRU]X]HLJHQKDEHQZHQQHUQDFK6DEKDO]XUFNNHKUWH 'HU$XVJDQJGHV6FKDFKWHVODJZLHDXIGHUHOIWHQ(EHQHDP)X HLQHU )HOVZDQG $EHUKLHUJDEHVNHLQHEUHLWH)DKUVWUDHEHUGLHWDJVEHU*OHLWHUGDKLQVFKZHEWHQ +LHU JDE HV DXFK NHLQH 6LHGOXQJ QXU HLQ]HOQH *HElXGH YRQ GHQHQ GDV HLQH RGHU DQGHUH LP PDWWHQ /LFKW GHU 6WHUQH XQGHXWOLFK ]X HUNHQQHQ ZDU 8QYHUNHQQEDU ZDU DEHU GHU PDVVLYH *HElXGHNRPSOH[ PLW GHP )LOLJUDQZHUN VFKODQNHU KRFK DXIUDJHQGHU 7UPH GHU VLFK LQ GHU )HUQH DXI GHU .XSSH HLQHV IODFKHQ ZHLW DXVJHGHKQWHQ +JHOV HUKRE .URYRUV 3DODVW 'RUW JDE HV /LFKW +XQGHUWH YRQ /LFKWTXHOOHQ HU]HXJWHQ HLQHQ GLIIXVHQ KDOENXJHOI|UPLJHQ 6FKLPPHU GHU GLH %XUJ GHV(ZLJHQ.ULHJHUVXPKOOWH 8QG QRFK HWZDV ILHO )HOOPHU DXI 'LH (QWIHUQXQJ ZDU EHL GHU XQVLFKHUHQ %HOHXFKWXQJ QXU VFKZHU ]X VFKlW]HQ $EHU HV NRQQWHQ QLFKW PHKU DOV ]ZHL .LORPHWHU ELV ]X MHQHP HLJHQZLOOLJHQ DXV YLHOIlOWLJHQ %DXHOHPHQWHQ YHUVSLHOW ]XVDPPHQJHVHW]WHQ YHUVFKDFKWHOWHQ *HElXGH VHLQ GDV VLFK GRUW DXV GHU GLFKWHQ 9HJHWDWLRQHLQHV3DUNVHUKRE(UVSUWHZLHGDV+HU]VFKQHOOHU]XVFKODJHQEHJDQQ 'RUWZDU*LOJLG:HQQHUMHW]WVHLQH*HGDQNHQDXIVLHNRQ]HQWULHUWHZUGHVHLLKQ K|UHQ ³9RQ MHW]W DQ JLOW HV DXI]XSDVVHQ VDJWH 6HPELODQ LP 7RQIDOO HLQHV 9HUVFKZ|UHUV XQG VSlKWH GDEHL DXIPHUNVDP LQ GLH 9RQ PLOFKLJHP 6WHUQHQOLFKW HUIOOWH (EHQH KLQDXV³(VJLEWEHUDOO:DFKXQG6LFKHUKHLWVPHFKDQLVPHQ ³:RKLQZLOOVWGXPLFKQRFKIKUHQ"IUDJWH)HOOPHU ³:LOOVWGXGDV6FKORQLFKWDXVGHU1lKHVHKHQ"HUNXQGLJWHVLFKGHU*DZURQ
³1XU ZHQQ HV RKQH JU|HUH *HIDKU P|JOLFK LVW VDJWH )HOOPHU ³,FK KDEH MHW]W VFKRQ PHKU HUOHEW DOV QHXQ]LJ 3UR]HQW GHU %HVXFKHU GLH ]XP HUVWHQPDO DXI 9DWRPDQGU\VLQG ³*XWPHLQWH6HPELODQ³:LUZROOHQHVDXIGDVbXHUVWHQLFKWDQNRPPHQODVVHQ 6LHKVWGXGDVYHUVFKDFKWHOWH*HElXGHGRUWGUEHQ"%LVGRUWKLQZDJHQZLUXQVYRU 9RQGRUWKDWPDQHLQHQDXVJH]HLFKQHWHQ$XVEOLFNDXIGLHJHVDPWH%XUJDQODJH )HOOPHU/OR\GIUDJWHVLFKZDVZRKOJHVFKHKHQZlUHZHQQHULQGLHVHP$XJHQEOLFN ]XU 5FNNHKU JHGUlQJW KlWWH (U WDW HV QLFKW (LQ )HXHU EUDQQWH LQ VHLQHP +HU]HQ =ZHL.LORPHWHUZDUHUQRFKYRQ*LOJLGHQWIHUQW=ZDQ]LJ0LQXWHQ)XPDUVFKQXU JXW GUHLLJ 0LQXWHQ ZHLO PDQ VLFK YRUVLFKWLJ EHZHJHQ PXWH WUHQQWHQ LKQ QRFK YRP=LHOVHLQHU6HKQVXFKW 6HPELODQ VFKLHQ HUOHLFKWHUW DOV )HOOPHU QLFKW ZLGHUVSUDFK (U VHW]WH VLFK LQ %HZHJXQJ 0LW JURHU *HVFKLFNOLFKNHLW QXW]WH HU MHGH VLFK ELHWHQGH 'HFNXQJ 'DV /DQG ODJ VFKZHLJHQG 1XU GDV 5DVFKHOQ GHU 6FKULWWH LP *UDV ZDU ]X K|UHQ 6SlWHVWHQV MHW]W KlWWH HV DXFK GHP %HJULIIVVWXW]LJVWHQ DXIIDOOHQ PVVHQ GD GHU *DZURQDQGHUHVLP6LQQKDWWHDOVHLQHP1HXJLHULJHQ.URYRUV6FKORDXVGHU1lKH ]X ]HLJHQ (U NPPHUWH VLFK NDXP XP GHQ DOV GHVVHQ %HJOHLWHU HU VLFK KDWWH UHJLVWULHUHQODVVHQ0LQXWHQYHUJLQJHQRKQHGDHUVLFKHLQHLQ]LJHV0DOXPGUHKWH XP]XVHKHQRE)HOOPHULKPIROJWH 6LH NDPHQ UDVFK YRUZlUWV )HOOPHU ODXVFKWH PLW DQJHVSDQQWHQ 6LQQHQ QLFKW DXI 6HPELODQV *HGDQNHQ VRQGHUQ DXI *LOJLGV PHQWDOH 5HJXQJHQ (U KDWWH LKUH *HGDQNHQVWLPPH XQYHUIlOVFKW HUVW ]ZHLPDO JHK|UW DEHU HU ZDU VLFKHU GD HU VLH XQWHU 7DXVHQGHQ PKHORV ZUGH KHUDXVNHQQHQ N|QQHQ (V JDE YLHO PHQWDOHV *HUlXVFKLPbWKHUDEHUQXUZHQLJDUWLNXOLHUWH,PSXOVH 1DFK ]ZDQ]LJ 0LQXWHQ OHJWHQ VLH HLQH 3DXVH HLQ 6LH NDXHUWHQ LQ HLQHP IODFKHQ *UDEHQ GHU VLFK TXHU GXUFK GLH JUDVEHZDFKVHQH )OlFKH ]RJ 'DV YHUVFKDFKWHOWH *HElXGHZDUVRQDKHGD)HOOPHU/OR\GVHOEVWLPVFKZDFKHQ/LFKWGHU6WHUQHGLH 6lXOHQJlQJHHUNHQQHQNRQQWHGLHVLFKDQGHQ6HLWHQZlQGHQHQWODQJ]RJHQ (LQKDUWHU*HGDQNHQLPSXOVWUDIVHLQH6HQVRUHQ(UNDPQLFKWYRQ*LOJLGVRQGHUQYRQ VHLQHP%HJOHLWHU 'HU]ZHLWH.XEXVYRQOLQNVLVWHVHPSILQJ)HOOPHU6HLQH8QWHUNDQWHOLHJW]Z|OI 0HWHUEHUGHP%RGHQ0DQNDQQLKQQLFKWGLUHNWHUUHLFKHQ'HU(LQJDQJOLHJWLP HUVWHQ.XEXVJDQ]OLQNV'RUWPXLFKPLU=XJDQJYHUVFKDIIHQ )HOOPHUKRUFKWHPLWDWHPORVHU6SDQQXQJ6HPELODQOHJWHVLFKLQ*HGDQNHQ]XUHFKW ZLHHU]X*LOJLGYRUGULQJHQZROOWH'LH%DXHOHPHQWHDXVGHQHQVLFKGDV*HElXGH ]XVDPPHQVHW]WHZDUHQZUIHOI|UPLJ(UEH]HLFKQHWHVLHDOV.XEHQ'LH$XJHQGHV 0XWDQWHQEHPKWHQVLFKGLH'XQNHOKHLW]XGXUFKGULQJHQ$P)XGHVDPZHLWHVWHQ OLQNVJHOHJHQHQ:UIHOVJODXEWHHUGLH8PULVVHHLQHV(LQJDQJV]XHUNHQQHQ'LHVHQ
PXWH 6HPELODQ JHPHLQW KDEHQ 'HU ]ZHLWH .XEXV ZDU DXI GHQ HUVWHQ XQG GHQ GULWWHQDXIJHVHW]WGHVZHJHQEHIDQGVLFKVHLQH8QWHUNDQWHLQPHKUDOV]HKQ0HWHUQ +|KH 6HPELODQ VWHOOWH VLFK GDV (LQGULQJHQ DOV QLFKW EHVRQGHUV VFKZLHULJ YRU 'LH 7U GLH HU EHQXW]HQ ZROOWH ZDU ZHGHU YHUULHJHOW QRFK EHZDFKW :RKHU HU GLHVH .HQQWQLVEH]RJJLQJDXVVHLQHQ*HGDQNHQQLFKWKHUYRU $EHUZDVZUGHJHVFKHKHQZHQQHUVLFKLP,QQHUQGHV*HElXGHVEHIDQG" +DXSWJDQJ LVW JHIlKUOLFK ,FK PX VRIRUW QDFK UHFKWV DEZHLFKHQ .OHLQHU 6HLWHQJDQJ GHU DQ HLQHP $QWLJUDYVFKDFKW HQGHW (U IKUW LQ GHQ ]ZHLWHQ .XEXV KLQDXI 5RERWZlFKWHU ,FK PX VLH DXVVFKDOWHQ .HLQH 6FKZLHULJNHLW 'HU .RGHJHEHUOHJWLKUH6FKDOW]HQWUHQODKP'DQQJLEWHVNHLQ+LQGHUQLVPHKU*LOJLG JHK|UWPLU 'HU OHW]WH *HGDQNH ZDU PLW GHP (PSILQGHQ WLHIHU *HQXJWXXQJ JHGDFKW $EHU HU HQWKLHOWNHLQHQ)XQNHQYRQ=XQHLJXQJ:DVKDWWH6HPELODQPLW*LOJLGYRU" )HOOPHUKRUFKWHDXIDOVGHU*DZURQVHLQHQ*HGDQNHQJDQJIRUWVHW]WH :DVPDFKHLFKPLWGHP7HUUDQHU"(UQW]WPLUQLFKWVPHKU:HQQLFKMHW]WJHIDW ZHUGH KLOIW PLU DXFK GLH $XVUHGH QLFKW LFK KlWWH PLFK YRQ LKP ]X GLHVHP 8QWHUQHKPHQ EHUUHGHQ ODVVHQ (U ZLUG PLU QXU LP :HJH VHLQ $P EHVWHQ LFK PDFKH LKQ XQVFKlGOLFK 1DFK *LOJLGV (QWIKUXQJ ZLUG KLHU GHU 7HXIHO ORV VHLQ 0|JHQGHV.ULHJHUV:lFKWHUVLFKGHQ.RSIGDUEHU]HUEUHFKHQZLHGLH/HLFKHGHV *RULPVKLHUKHUJHNRPPHQLVW bUJHU IOOWH )HOOPHU /OR\GV %HZXWVHLQ $EVHUYLHUW ZHUGHQ VROOWH HU DOVR 'LH .DOWEOWLJNHLW PLW GHU 6HPELODQ EHU VHLQ 6FKLFNVDO HQWVFKLHG YHUEOIIWH LKQ (V ZDULKPNODUJHZHVHQGDGHU*DZURQLKPJHJHQEHUNHLQHUOHLIUHXQGVFKDIWOLFKH *HIKOHKHJWH'HU)UHPGHGHU9DWRPDQGU\]XPHUVWHQPDOEHVXFKWHZDUIULKQ ZHLWHUQLFKWVDOVHLQ0LWWHO]XP=ZHFN$EHUGDHUGDUDXIYHUIDOOHQZUGHVHLQHQ %HJOHLWHUVREDOGHULKQQLFKWPHKUEUDXFKWHNXU]HUKDQGXP]XEULQJHQGDPLWKlWWH )HOOPHUQLFKWJHUHFKQHW ³/DQJH JHQXJ DXVJHUXKW VDJWH 6HPELODQ LQ GLHVHP $XJHQEOLFN ³:LU PVVHQ ZHLWHU ,Q VSlWHVWHQV GUHL 6WXQGHQ ZLUG HV 7DJ :LU KDEHQ GLH 6SHUUOLQLHQ GHU DXWRPDWLVFKHQ 6LFKHUXQJVJHUlWH KLQWHU XQV -HW]W NDQQ XQV QLFKWV PHKU SDVVLHUHQ *HKGXYRUDXV+DOWHDXIGHQOLQNHQ5DQGGHV*HElXGHV]X ,P5FNHQVROOLFKGLFKDOVRKDEHQGDFKWH)HOOPHU/OR\GJULPPLJ(UVFKREVLFK DXV GHP *UDEHQ KLQDXV XQG ULFKWHWH VLFK DXI /DQJVDP EHZHJWH HU GLH +DQG LQ 5LFKWXQJGHV*UWHOVZRHUGHQ3DUDO\VDWRUWUXJ 0LWJHPlFKOLFKHP6FKULWWVHW]WHHUVLFKLQ%HZHJXQJGLH1HUYHQELV]XPlXHUVWHQ JHVSDQQW$OOHVHLQH0HQWDOVHQVRUHQZDUHQDXI6HPELODQV*HGDQNHQJHULFKWHW'HU *DZURQVFKLHQYRQ8QUXKHHUIOOW (LQVFKDUIHU,PSXOVHLQ*HGDQNHYRQVFKULOOHU,QWHQVLWlWJDELKPGLHHQWVFKHLGHQGH :DUQXQJ
(VLVWVRZHLW )HOOPHU ZDUI VLFK ]XU 6HLWH ,P )DOOHQ UL HU GHQ 3DUDO\VDWRU KHUYRU GHU DXI 0D[LPDOOHLVWXQJ JHVFKDOWHW ZDU 6HPELODQ ERW LP /LFKW GHU 6WHUQH HLQ XQYHUIHKOEDUHV=LHO(UZDUVWHKHQJHEOLHEHQ,QVHLQHUUHFKWHQ+DQGVFKLPPHUWHPDWW GHUPHWDOOHQH/DXIHLQHU:DIIH)HOOPHUVXQHUZDUWHWHV0DQ|YHUVFKLHQGHQ*DZURQ YHUZLUUW]XKDEHQ 'HU0XWDQWGUFNWHDE0LWKHOOHP6LQJHQHQWOXGVLFKGLH:DIIH6HPELODQJDEHLQ lFK]HQGHV*HUlXVFKYRQVLFK'DQQNLSSWHHU]XU6HLWHXQGVWU]WH]X%RGHQ )HOOPHU /OR\G YHUKDUUWH LQ NQLHQGHU 6WHOOXQJ 6HLQH 6HQVRUHQ GXUFKVXFKWHQ GLH 8PJHEXQJ :DU GHU 6FKX JHK|UW ZRUGHQ" 'LH *HUlXVFKH LP 0HQWDOlWKHU KDWWHQ VLFK QLFKW JHlQGHUW 6LH NDPHQ DXV GHQ *HKLUQHQ 6FKODIHQGHU )HOOPHU VWDQG DXI XQGJLQJ]XGHP%HZXWORVHQKLQ(UIDWHQDFKGHU+DQGGLHGLH:DIIHNUDPSIKDIW XPVFKORVVHQKLHOW ³(LQ7KHUPREODVWHUPXUPHOWHHU³:HL*RWWHUZROOWHPLFKXPEULQJHQ (UPDFKWHVLFKDXIGHQ:HJ8PGHQ%HZXWORVHQEUDXFKWHHUVLFKQLFKW]XNPPHUQ (U ZUGH HUVW ZLHGHU ]X VLFK NRPPHQ ZHQQ GLH +HOLRVWUDKOHU VFKRQ HLQ SDDU 6WXQGHQODQJZLHGHULQ%HWULHEZDUHQ 0HKUHUH+HFNHQODJHQKLQWHULKP(UJODXEWHGHQ5DVHQSODW]]XHUNHQQHQDXIGHP VHLQH HUVWH %HJHJQXQJ PLW *LOJLG VWDWWJHIXQGHQ KDWWH MHQH GLH LKP YRQ GHU &KDU\EGLVFKHQ6LUHQHYRUJHJDXNHOWZRUGHQZDU 'LH6]HQHZDUVRZLHHUHVLQ6HPELODQV*HGDQNHQJHOHVHQKDWWH'HU.XEXVGHU GLH OLQNH %HJUHQ]XQJ GHV *HElXGHNRPSOH[HV ELOGHWH ZDQGWH LKP HLQH IHQVWHUORVH 6HLWHQZDQG ]X DEHU LQ GHU %DVLV GHU :DQG EHIDQG VLFK HLQ (LQJDQJ HLQH VFKRWWlKQOLFKH 7U GLH DXV ]ZHL UHFKWHFNLJHQ )OJHOQ EHVWDQG (U XQWHUVXFKWH VLH LP6FKHLQGHU%UXVWODPSHXQGNDP]XGHP6FKOXGDVLHVLFKRKQH0KHZUGH |IIQHQODVVHQ (UIKUWHHLQNXU]HV*HVSUlFKPLWGHP6\QWURQ ³:LUZHUGHQZDKUVFKHLQOLFKDXIIHLQGOLFKJHVLQQWH5RERWHUVWRHQVDJWHHU ³:HOFKHU6WUXNWXU"ZROOWHGHU3LNRFRPSXWHUZLVVHQ ³6RZHLW ZLU GLH 7HFKQLN GHU (ZLJHQ .ULHJHU NHQQHQ YHUZHQGHQ VLH V\QWURQLVFK JHVWHXHUWH5RERWHU ³9HWWHUQ DOVR NRPPHQWLHUWH GHU 6\QWURQ ³'DV PDFKW GLH 6DFKH OHLFKWHU 'LH 2UJHOLVWHLQVDW]EHUHLW'XEUDXFKVWQXUGLHHQWVSUHFKHQGH$QZHLVXQJ]XJHEHQ 'LH 2UJHO GDV ZDU GDV 6W|UJHUlW GDV ]XU %HNlPSIXQJ IHLQGOLFKHU 5RERWHU YHUZHQGHW ZXUGH 5DQGRP 6\QWURQLF 3XOVH ,QLWLDWRU 5$63, ZUGH HV YRQ GHQ 7HFKQLNHUQ JHQDQQW (V HU]HXJWH +DJHOVFKDXHU HQHUJLHUHLFKHU V\QWURQLVFKHU ,PSXOVHGLHVHOEVWOHLVWXQJVIlKLJH$EVFKLUPXQJHQGXUFKGUDQJHQXQGLP6WHXHUXQG .RQWUROOV\VWHP GHV JHJQHULVFKHQ 5RERWHUV KHLOORVH 9HUZLUUXQJ VWLIWHWHQ 5$63, KDWWH VLFK ELVKHU QRFK MHGHP V\QWURQLVFKHQ 6\VWHP JHJHQEHU DOV EHUOHJHQ
HUZLHVHQ5$63,DUEHLWHWHVWRZHLVHLQUDQGRPLVLHUWHQ5K\WKPXV-HZHLOVZlKUHQG GHU ,PSXOVVW|H VFKDOWHWH GHU 6\QWURQ GHU 1HW]NRPELQDWLRQ VLFK VHOEVWWlWLJ DE (U KlWWHVRQVWDQGHU:LUNXQJVHLQHUHLJHQHQ:DIIH6FKDGHQJHQRPPHQ )HOOPHU/OR\G|IIQHWHGDV]ZHLIOJHOLJH6FKRWWXQGEOLFNWHLQHLQHQKHOOHUOHXFKWHWHQ EUHLWHQ .RUULGRU GHVVHQ :lQGH LQ UHJHOPlLJHQ $EVWlQGHQ PLW 7UHQ EHVHW]W ZDUHQ 'LH $QODJH YHUPLWWHOWH GHQ (LQGUXFN NDOWHU =ZHFNPlLJNHLW +LQWHU GHQ 7UHQ ODJHQ ZDKUVFKHLQOLFK $UEHLWVVWlWWHQ %URV &RPSXWHUHLQULFKWXQJHQ RGHU :HUNVWlWWHQ )HOOPHU WUDW HLQ VR GD GDV 6FKRWW VLFK ZLHGHU KLQWHU LKP VFKOR 'HU KHOOH /LFKWVFKHLQ GHU GXUFK GLH gIIQXQJ LQ GLH 1DFKW KLQDXV ILHO KlWWH LKQ ZRP|JOLFK YHUUDWHQN|QQHQ(VZDU VWLOO LQ GLHVHP 7HLO GHV *HElXGHV $EHU )HOOPHU HULQQHUWH VLFKGDUDQGD6HPELODQGHQ.RUULGRUDOVJHIlKUOLFKEH]HLFKQHWKDWWH(UJLQJHLQ SDDU0HWHUXQGIDQGGHQ6HLWHQJDQJGHQGHU*DZURQ LQ *HGDQNHQ HUZlKQW KDWWH 'LH$E]ZHLJXQJEHVFKULHEQDFKZHQLJHQ6FKULWWHQHLQHUHFKWZLQNOLJH%LHJXQJXQG YHUOLHIYRQGDDQSDUDOOHO]XP+DXSWJDQJLQ5LFKWXQJGHUUFNZlUWLJHQ%HJUHQ]XQJ GHV*HElXGHV :LH HV 6HPELODQ EHVFKULHEHQ KDWWH HQGHWH GHU *DQJ YRU HLQHP $QWLJUDYVFKDFKW )HOOPHU SUIWH GDV NQVWOLFKH 6FKZHUHIHOG XQG EHU]HXJWH VLFK GD HV QDFK REHQ JHSROW ZDU (U ZDU EHUHLW LQ GHQ 6FKDFKW ]X VWHLJHQ GD K|UWH HU HLQ *HUlXVFK (U IXKU KHUXP -HJOLFKH %HGURKXQJ PXWH YRQ GRUWKHU NRPPHQ ZRKHU DXFK HU JHNRPPHQ ZDU (V JDE NHLQHQ DQGHUHQ =XJDQJ ]X GLHVHP .RUULGRU $EHU GHU VFKPDOH *DQJ ODJ OHHU 1LHPDQGZDULQGHU1lKH(UKRUFKWH'DV*HUlXVFKK|UWH VLFK DQ ZLH HLQH 6WLPPH GLH LQ GHU )HUQH VSUDFK 6LH KDWWH HLQHQ HLJHQWPOLFK YHUWUDXWHQ .ODQJ XQG QDFK NXU]HP hEHUOHJHQ ZXUGH )HOOPHU NODU ZRKHU HU VLH NDQQWH6LHZDUGLH6WLPPHGHV6SUHFKHUVGHUGLHKRORJUDSKLVFKHQ9LGHRVHQGXQJHQ NRPPHQWLHUWH GLH ZlKUHQG GHV 9RONVIHVWV EHUDOO DXI 9DWRPDQGU\ DXVJHVWUDKOW ZXUGHQ (U HQWVSDQQWH VLFK $QVFKHLQHQG ZXUGH GLH 6HQGXQJ DXFK KLHU XQWHQ DXI GHU ]Z|OIWHQ (EHQH DXVJHVWUDKOW (U YHUVXFKWH GHQ .RPPHQWDWRU ]X YHUVWHKHQ $EHU GLH6WLPPHZDU]XZHLWHQWIHUQW(UHUIDWHQXUHLQ]HOQH:RUWH ³)UHYHOWDWVRQGHUJOHLFKHQhEHUKHEOLFKNHLWLQV,QQHUVWHNHLQH$KQXQJ MHGHU6FKULWW (LQLJHUPDHQ EHUXKLJW ZDQGWH HU VLFK DE :DV GRUW JHVSURFKHQ ZXUGH JLQJ LKQ QLFKWVDQ(UVFKZDQJVLFKLQGHQ$QWLJUDYVFKDFKWXQGJOLWWODQJVDPLQGLH+|KH 'RUW ZR HU GHQ 6FKDFKW YHUOLH ODJ HLQ UHFKWHFNLJHU KDOOHQlKQOLFKHU 5DXP PLW VSLHJHOJODWWHP %RGHQ XQG HLQHU 'HFNH GLH DXV HLQHU HLQ]LJHQ /HXFKWIOlFKH ]X EHVWHKHQ VFKLHQ (V ZDU QDKH]X XQHUWUlJOLFK KHOO )HOOPHU NQLII GLH $XJHQ KDOE ]XVDPPHQ XQG HUVSlKWH DXI GHU JHJHQEHUOLHJHQGHQ 6HLWH GHV 5DXPHV GLH 0QGXQJHLQHV.RUULGRUV'DUDXIKLHOWHU]X ,QGLHVHP$XJHQEOLFNPHOGHWHVLFKGHU6\QWURQ
³6WUHXLPSXOVHVWlUNHUZHUGHQG:LUEHNRPPHQHVPLW5RERWHUQ]XWXQ )HOOPHU OHJWH HLQHQ NXU]HQ 6SXU YRU XQG HUUHLFKWH GLH 0QGXQJ GHV *DQJHV LQQHUKDOE ZHQLJHU 6HNXQGHQ (U GUFNWH VLFK LQ GLH 'HFNXQJ GHU 6HLWHQZDQG JHUDGH UHFKW]HLWLJ XP DFKW 0HWHU ZHLWHU YRUQ ]ZHL VFKZHEHQGH GLVNXVI|UPLJH 5RERWHUXPHLQH.UPPXQJGHV.RUULGRUVDXIWDXFKHQ]XVHKHQ ³2UJHOVDJWHHU ³9HUVWDQGHQ 'HU0HQVFKVSUWHQLFKWVGDYRQZHQQ5$63,LQ7lWLJNHLWWUDW'LHEHLGHQ5RERWHU ZLUNWHQLPHUVWHQ$XJHQEOLFNJOHLFKIDOOVXQEHHLQGUXFNW$EHUGDQQYHUlQGHUWHQVLH GLH)OXJODJH(LQHUVFKRVWHLOLQGLH+|KHSUDOOWHPLWODXWHP.UDFKJHJHQGLH'HFNH XQG VWU]WH ]X %RGHQ 'HU DQGHUH VFKUDPPWH DQ GHU :DQG HQWODQJ $XV GHP GLVNXVI|UPLJHQ .|USHU ZXUGHQ GUHL IOH[LEOH *UHLIDUPH DXVJHIDKUHQ 6LH ZHGHOWHQ ]LHOORV'HU5RERWHUQDKP)DKUWDXIXQGJOLWWGXUFKGLH0QGXQJGHV.RUULGRUVLQ GLH +DOOH (U VFKLHQ )HOOPHU QLFKW ZDKU]XQHKPHQ )HOOPHU VDK LKQ PLW ZLUEHOQGHQ $UPHQ LP $QWLJUDYVFKDFKW YHUVFKZLQGHQ 6HNXQGHQ VSlWHU K|UWH HU GHQ KDUWHQ .QDOOHLQHU([SORVLRQ%ODXJUDXHU4XDOPGUDQJDXVGHU6FKDFKW|IIQXQJ 'HU ]XHUVW DEJHVWU]WH 5RERWHU UKUWH VLFK QLFKW PHKU 'LH 6WUDKOHQVFKDXHU GHU 2UJHO KDWWHQ VHLQ .RQWUROOV\VWHP ODKPJHOHJW )HOOPHU KRUFKWH :DUHQ GLH EHLGHQ 0DVFKLQHQGLHHLQ]LJHQ:lFKWHUGLHHVLQGLHVHP*HElXGHVHNWRUJDE" (U K|UWH OHLVHV .QLVWHUQ GDV DXV GHP 6FKDFKW ]X NRPPHQ VFKLHQ 'LH hEHUUHVWH GHV ]ZHLWHQ 5RERWHUV VFKZHOWHQ YRP $QWLJUDYIHOG JHWUDJHQ LUJHQGZR XQWHU GHU 6FKDFKWGHFNH 'LH 4XDOPHQWZLFNOXQJ ZXUGH VWlUNHU 0LW HLQHPPDO ZDU DXFK GLH 6WLPPH ZLHGHU ]X K|UHQ GLH )HOOPHU ZHLW KLQWHU VLFK ]XUFNJHODVVHQ ]X KDEHQ JODXEWH ³'UHLVWLJNHLWZLHVLHGDV8QZLVVHQHQGJOWLJHQ6FKLFNVDOHQWJHJHQ DQGHUVVHLQDOVXQIHKOEDUH0DFKWGHV.ULHJHUV :LHVR ZDU VLH KLHU QRFK ]X K|UHQ" 'XUFK GHQ 6FKDFKW KDWWH HU ]HKQ 0HWHU +|KHQXQWHUVFKLHG EHUZXQGHQ XQG GLH %UHLWH GHU +DOOHEHWUXJJHZLQRFKHLQPDO ]ZDQ]LJ0HWHU'LH6WLPPHZDUDXFKQLFKWOHLVHUJHZRUGHQLP*HJHQWHLO(UK|UWH VLHMHW]WGHXWOLFKHUDOV]XYRU 1DWUOLFK IXKU HV LKP GXUFK GHQ 6LQQ 'LH KRORJUDSKLVFKH 6HQGXQJ ZXUGH DQ PHKUHUHQ 2UWHQ HPSIDQJHQ QLFKW QXU LQ GHP *HElXGHWHLO GHQ HU YRU NXU]HP YHUODVVHQ KDWWH VRQGHUQ DXFK KLHU REHQ 'HU (PSIlQJHU PRFKWH VLFK LQ HLQHP GHU 5lXPH EHILQGHQ GLH RKQH =ZHLIHO KLQWHU GHQ :lQGHQ GHU +DOOH XQG GHV *DQJHV ODJHQ (UHUVWDUUWH(LQH5HLKHYRQ*HGDQNHQLPSXOVHQGUDQJLKPLQV%HZXWVHLQ6LHZDUHQ VR LQWHQVLY DOV GlFKWH HU GLH *HGDQNHQ VHOEVW $EHU HV ZDUHQ QLFKW GLH 5HJXQJHQ VHLQHVHLJHQHQ*HKLUQV'DVZXWHHU(UNDQQWHGLHVH0HQWDOVWLPPHXQGZlKUHQG HUVLHMHW]WDXVQlFKVWHU1lKHK|UWHHUZDFKWHLQVHLQHP+HU]HQYRQQHXHPXQGPLW
EHUPlFKWLJHU 6WlUNH GLH 6HKQVXFKW GLH LKQ GD]X EHZHJHQ KDWWH GLH ODQJH XQG JHIlKUOLFKH )DKUW YRQ GHQ OHXNDQLVFKHQ 0DUVFKHQ ELV ]XU )HVWXQJ 9DWRPDQGU\]X XQWHUQHKPHQ +HOIWPLU,FKELQ*LOJLG 'LHVPDONRQQWHHUQLFKWPHKUDQVLFKKDOWHQ *LOJLG ,FK NRPPH XP GLFK ]X EHIUHLHQ GDFKWH HU PLW GHU ,QEUXQVW GHVVHQ GHU VHLQHU(UUHJXQJQLFKWPHKU+HUUZXUGH (LQHQ$XJHQEOLFNODQJNDPHQQXUQRFKYHUZRUUHQH,PSXOVHYRQGHUDQGHUHQ6HLWH 6\PEROHGHUhEHUUDVFKXQJXQGGHV8QJODXEHQV'DQQIRUPXOLHUWHVLFKLQ*HGDQNHQ HLQH)UDJH +lOWVWGXPLFK]XP1DUUHQ" ,Q )HOOPHU /OR\GV %HZXWVHLQ HQWVWDQG GDV %LOG HLQHU MXQJHQ DWHPEHUDXEHQG VFK|QHQ )UDX $XV JURHQ GXQNOHQ $XJHQ VFKLHQ VLH LKQ IUDJHQG DQ]XEOLFNHQ %UDXQHV+DDUORFNWHVLFKXPGLHKRKH6WLUQXQGILHOLQIOLHHQGHQ:HOOHQELVDXIGLH 6FKXOWHUKHUDE ,FKPHLQHHVHUQVWDQWZRUWHWHHU,FKELQKLHUXPGLFK]XUHWWHQ 'XEHJLEVWGLFKLQ*HIDKUNDPGLH:DUQXQJ+WHGLFKYRU.URYRU)lOOVWGXLKP LQGLH+lQGHLVWGHLQ/HEHQYHUORUHQ ,FK IUFKWH GHQ .ULHJHU QLFKW DQWZRUWHWH )HOOPHU WURW]LJ ,FK ELQ ZHLW JHNRPPHQ VHLWGHP LFK GHLQHQ HUVWHQ 5XI HPSILQJ -HW]W ELQ LFK JDQ] LQ GHLQHU 1lKH 1LFKWV KlOWPLFKPHKUDXI 'DVJDQ]H'Ul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lXPH*LOJLG EUHLWHWHGLH$UPHDXVVRZLHVLHHVGDPDOVLQGHP)LNWLYELOGJHWDQKDWWH(UK|UWHVLH VSUHFKHQ XQG GLHVPDO ZDU HV QLFKW GLH 6WLPPH LKUHU *HGDQNHQ GLH HU K|UWH (V ZDUHQ:RUWHGLHDXVLKUHP0XQGNDPHQ6LHVSUDFK6RWKDON ³2KZLHGDQNEDULFKGLUELQ 'DVHW]WHHUVLFKYRQQHXHPLQ%HZHJXQJ(UIORJDXIVLH]X$XFKHUKDWWHGLH$UPH DXVJHEUHLWHW 6LH EHUKUWHQ HLQDQGHU (U IDWH VLH XQG ]RJ VLH DQ VLFK (U EDUJ GDV *HVLFKW LQ LKUHP GXIWHQGHQ +DDU XQG VWDPPHOWH VLQQORVH XQ]XVDPPHQKlQJHQGH
:RUWHYRUVLFKKLQ6LHEUDXFKWHVLHQLFKW]XYHUVWHKHQ6LHEHJULIIDXFKVRZDVHU HPSIDQG $EHUDXIHLQPDOZDUHQVLHQLFKWPHKUDOOHLQH(UVSUWH*LOJLGV+lQGHZLHVLHLKQ ]XUFN]XGUlQJHQ YHUVXFKWHQ (U K|UWH VLH VSUHFKHQ /DXWH GHU $QJVW XQG GHU 9HU]ZHLIOXQJ8QGQRFKHWZDVK|UWHHUGLHYHUGDPPWH6WLPPHGHV.RPPHQWDWRUV GLH LKP VHOEVW LQ GLHVHP $XJHQEOLFN GHV K|FKVWHQ 7ULXPSKV NHLQH 5XKH JHEHQ ZROOWH6LHVDJWH ³8QGKLHUVLHKWPDQGHQ)UHYOHUDP=LHO(UJODXEWGHQ(ZLJHQ.ULHJHUEHUOLVWHW ]XKDEHQ(UDKQWQRFKLPPHUQLFKWGD.URYRULKPHLQH)DOOHVWHOOWHLQGHUHUVLFK QXQJHIDQJHQKDW'HQQGLH:HLVKHLWGHV.ULHJHUVLVWVRDOOXPIDVVHQGGDVLFKNHLQ DQGHUHVGHQNHQGHV:HVHQPLWLKPPHVVHQNDQQ 0LW HLQHP NQXUUHQGHQ /DXW GHV =RUQV IXKU )HOOPHU /OR\G KHUXP 8QG HUVWDUUWH EHLP$QEOLFNGHV%LOGHV (VZDUGDVVHOEH+RORJUDPPGDVHUVFKRQ'XW]HQGHYRQ0DOHQJHVHKHQKDWWH,P +RUVWGHU*DVWIUHXQGVFKDIWKDWWHHUVLFKEHL6HPELODQGDUEHUEHVFKZHUWGDPDQ HV QLFKW DEVFKDOWHQ NRQQWH (V KDWWH GLH $XIJDEH GHQ %HVXFKHUQ GHV 9RONVIHVWH QDKH]XEULQJHQZHOFKXQYHUJOHLFKOLFKHU+HUUVFKHUGHU(ZLJH.ULHJHU.URYRUZDU 'LHVPDO DEHU ]HLJWH HV HLQ DQGHUHV %LOG (V ]HLJWH )HOOPHU /OR\G GHU YRU *LOJLG VWDQGGHQ.RSIKDOEZHJVQDFKKLQWHQJHGUHKWPLWHLQHU+DQGGHQ/HLEGHU)UDX LPPHU QRFK XPIDVVHQG (V ]HLJWH LKQ PLW ZHLW DXIJHULVVHQHQ $XJHQ XQJOlXELJHV 6WDXQHQ LP %OLFN 8QG PLW ]\QLVFKHU 8QHUELWWOLFKNHLW KlPPHUWHQ GD]X GLH :RUWH GHV.RPPHQWDWRUV ³6HKW GRFK ZLH EHUUDVFKW HU LVW (U KDW ZLUNOLFK JHJODXEW HU N|QQWH GHQ (ZLJHQ .ULHJHU EHUOLVWHQ (U KDW HV QRFK QLFKW EHJULIIHQ GD XQVHU $XIQDKPHJHUl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³,FK ZHL QLFKWV GDYRQ ,FK KlWWH GLFK JHZDUQW ZHQQ XQVHUH 9HUELQGXQJ IUKHU ]XVWDQGH JHNRPPHQ ZlUH ,FK KlWWH GLH NODU]XPDFKHQ YHUVXFKW GD .URYRU HLQ KHLPWFNLVFKHU XQG JHIlKUOLFKHU *HJQHU LVW $EHU LFK ZXWH QLFKWV YRQ VHLQHQ 3OlQHQ
(UQLFNWH ³,FKZXWHHVVDJWHHU 'DV*HIKOGHU+LOIORVLJNHLWVDLKPLQGHQ.QRFKHQ'LH+DQGWDVWHWHQDFKGHP 3DUDO\VDWRUDEHUHUZXWHGDLKPGLH:DIIHQLFKWVPHKUQW]HQZUGH ³6HKWZLHHU]LWWHUWULHIGHU.RPPHQWDWRU)HOOPHU]LWWHUWHQLFKW$EHUHU]ZHLIHOWH NHLQH6HNXQGHGDHVGHU%LOGWHFKQLNGHV.ULHJHUVRKQHZHLWHUHVP|JOLFKZDULKQ DOVKDOWORVVFKORWWHUQGHQ-DPPHUODSSHQGDU]XVWHOOHQ³(UVSUWGDGLH6WUDIHQDKW %LVKLHUKHUKDWGHU(ZLJH.ULHJHULKQYRUGULQJHQODVVHQDEHUKLHULVWVHLQ:HJ]X (QGH6HKWGRFKVHKW'LH6WLPPHGHV6SUHFKHUVZXUGHODXWHU³'HU.ULHJHU VFKOlJW ]X -HW]W LVW GHU $XJHQEOLFN GHU $EUHFKQXQJ JHNRPPHQ $FKWHW DXI GDV OHXFKWHQGH )HOG GDV GHQ )UHYOHU HLQKOOW (U NDQQ VLFK QLFKW PHKU EHZHJHQ 'LH 0XVNHOQYHUVDJHQLKPGHQ'LHQVW(UNDQQVLFKQLFKWPHKUDXIUHFKWKDOWHQ )HOOPHU /OR\G VDK GDV OHXFKWHQGH )HOG QLFKW XQPLWWHOEDU HU VDK QXU VHLQH 'DUVWHOOXQJ LP +RORJUDPP ,Q GHU HUVWHQ 6HNXQGH KLHOW HU HV IU HLQHQ ELOOLJHQ 7ULFNGHU$XIQDKPHWHFKQLNDEHUGDQQVSUWHHUGDVVFKPHU]KDIWH=LHKHQLQ$UPHQ XQG %HLQHQ (U IKOWH ZLH VHLQ .|USHU VFKZHUHU ZXUGH (V NRVWHWH LKQ $QVWUHQJXQJDXIUHFKW]XVWHKHQ'LH+DQG|IIQHWHVLFK(UK|UWHGHQ3DUDO\VDWRU]X %RGHQNODSSHUQ 'LFKWQHEHQLKPZDUHLQHVDQIWH6WLPPH ³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lPPHUWHLP+LQWHUJUXQGVHLQHV%HZXWVHLQV'DVZDUGLH(UNOlUXQJ :DVZDUGLH(UNOlUXQJ"6HLQ9HUVWDQGIXQNWLRQLHUWHQLFKWPHKU(UZDU]XWUlJHGLH 6FKOVVH]X]LHKHQGLHVLFKYRQVHOEVWDQERWHQ )HOOPHU /OR\G VFKOXJ PLW GHP *HVLFKW ]X %RGHQ (U VSUWH GHQ $XISUDOO QLFKW PHKU'DV%HZXWVHLQKDWWHLKQYHUODVVHQ $EHU LQ GLH 'XQNHOKHLW GHU 2KQPDFKW KLQEHU QDKP HU PLW VLFK GDV %LOG GDV HU ]XOHW]WJHVHKHQKDWWH'DV%LOG6HPELODQVGHV*DZURQ (V ZDU HLQH WURVWORVH /DQGVFKDIW HLQH /DQGVFKDIW ZLH VLH QLUJHQGZR LQ GHU )HVWXQJ9DWRPDQGU\H[LVWLHUWH$OVRKDWWHPDQLKQHQWZHGHUDQGHUVZRKLQJHEUDFKW RGHU GLH :HOW ULQJVXP ZDU ILNWLY HLQ 3URGXNW SVLRQLVFKHU 9RUVSLHJHOXQJVWHFKQLN GLHGHU(ZLJH.ULHJHUZLHHLQ9LUWXRVHEHKHUUVFKWH
$XI HLQHU NDOWHQ IHXFKWHQ 6WHLQSODWWH NDP )HOOPHU /OR\G ZLHGHU ]X VLFK (U ULFKWHWH VLFK DXI 'LFKWHU 1HEHO HUIOOWH GLH /XIW ,Q HLQ SDDU 6FKULWWHQ (QWIHUQXQJ VDKHUGLH8PULVVH]ZHLHU%lXPHGLHLKQDQGLH7DQQHQVHLQHU+HLPDWHULQQHUWHQ 'HU%RGHQMHQVHLWVGHU6WHLQSODWWHZDUPLWVFKWWHUHP*UDVEHZDFKVHQ(UEOLFNWH QDFK REHQ DEHU GLH 6RQQH GLH GLHVHU :HOW HLQ EHVFKHLGHQHV 0D DQ +HOOLJNHLW YHUPLWWHOWHZDUQLUJHQGZR]XVHKHQ (U KRUFKWH (V ZDU VWLOO ULQJVXP 1XU LQ GHQ EHLGHQ %lXPHQ ULHVHOWH HV OHLVH 'DV ZDU GLH )HXFKWLJNHLW GLH VLFK DXI GHQ 1DGHOQ QLHGHUVFKOXJ XQG YRQ $VW ]X $VW WURSIWH(UKRUFKWHDXFKPLWGHQ6HQVRUHQVHLQHUPHQWDOHQ6LQQHXQGGDJODXEWHHU SO|W]OLFK HWZDV ]X K|UHQ (V NODQJ ZLH HLQ IHUQHV 6XPPHQ XQPRGXOLHUW GLH $XVVWUDKOXQJHLQHVVFKODIHQGHQ%HZXWVHLQV $EHUGDV6XPPHQZXUGHPLWHLQHPPDOODXWHU(VVFKZROO]XPGXPSIHQ'U|KQHQ )HOOPHUYHUVXFKWH]XHUNHQQHQZRKHUGDV*HUlXVFKNDP'DVJHODQJLKPQLFKW(V VFKLHQYRQDOOHQ6HLWHQDXILKQHLQ]XVWU|PHQ(USUHWHGLH+lQGHJHJHQGLH2KUHQ DOVN|QQHHUVLFKVRYRUGHP/lUPVFKW]HQGHULQ:LUNOLFKNHLWPLWWHQLQVHLQHP %HZXWVHLQHQWVWDQG 'DULGHU1HEHODXVHLQDQGHU(LQH=RQHVWUDKOHQGHU+HOOLJNHLWHQWVWDQGXQGPLWWHQ GDULQ PDWHULDOLVLHUWHQ GLH 8PULVVH HLQHU *HVWDOW YRQ VR JHZDOWLJHQ $XVPDHQ GD )HOOPHU XQZLOONUOLFK HLQ SDDU 6FKULWWH ]XUFNZLFK XQG GDEHL DXI GHU JODWWHQ IHXFKWHQ6WHLQSODWWHLQV6WUDXFKHOQJHULHW 'LH*HVWDOWZDUVRKRFKZLHHLQ+DXVZHQLJVWHQV]HKQ0HWHU6LHZDUYRQHQWIHUQW KXPDQRLGHU)RUP=ZHLPlFKWLJH%HLQHVWW]WHQHLQHQTXDGHUI|UPLJHQ.|USHU$XV GHP4XDGHUUDJWHQ]ZHL$UPHGLHLQ+lQGHQPLWIQIGLFNHQUHFKWHFNLJHQ)LQJHUQ HQGHWHQ $XI GHQ 6FKXOWHUQ GLH HLQH %UHLWH YRQ ZHQLJVWHQV YLHU 0HWHUQ EHVDHQ WKURQWHHLQZUIHOI|UPLJHU6FKlGHOGHVVHQJURHTXDGUDWLVFKH$XJHQLQU|WOLFKHU *OXWVWUDKOWHQ 'HU)UHPGHIXQNHOWHXQGVFKLPPHUWHLQPHWDOOLVFKHP*ODQ]:DV)HOOPHUVDKZDU QLFKW GDV :HVHQ VHOEVW VRQGHUQ HLQH 5VWXQJ RGHU YLHOPHKU GLH SVLRQLVFKH 3URMHNWLRQ HLQHU 5VWXQJ 'LH (ZLJHQ .ULHJHU ZDUHQ GDIU EHNDQQW GD VLH HV OLHEWHQVLFKLQVROFKHU$XIPDFKXQJ]X]HLJHQ 'HU*ROLDWKEHJDQQ]XVSUHFKHQ,P.XEXVGHVPlFKWLJHQ6FKlGHOVELOGHWHVLFKHLQ EUHLWHU5LDXVGHPHVLQJUHOOHP:HLEODXKHUYRUVWUDKOWH:LH'RQQHUIHJWHGLH 6WLPPHGHV5LHVHQEHUGDVQHEOLJH/DQG ³,FK VHKH GX KDVW GLFK YRQ GHLQHP 6FKZlFKHDQIDOO HUKROW GU|KQWH GLH 6WLPPH ³'X ]LWWHUVW YRU GHP $QEOLFN GHV .ULHJHUV XQG IUDJVW GLFK ZHOFKHV GHLQ 6FKLFNVDO VHLQZLUG )HOOPHU /OR\G EHJULII GD HU XQG GHU 3RSDQ] QLFKW GLH HLQ]LJHQ ZDUHQ GLH DQ GLHVHU6]HQHWHLOQDKPHQ'HU9RUJDQJZXUGHKRORJUDSKLVFKEHUWUDJHQ,QGLHVHP $XJHQEOLFNVDKHQ=HKQWDXVHQGHYRQ)HVWXQJVEHZRKQHUQXQG+XQGHUWWDXVHQGHYRQ
%HVXFKHUQ GHV 9RONVIHVWV ZLH GHU PlFKWLJH .ULHJHU .URYRU VLFK DQVFKLFNWH GHQ IUHYOHULVFKHQ :XUP ]X ]HUWUHWHQ GHU HV JHZDJW KDWWH VLFK QDFK 9DWRPDQGU\ HLQ]XVFKOHLFKHQXPHLQH*HIDQJHQH]XEHIUHLHQ ³,FK]LWWHUHQLFKWDQWZRUWHWHHU(UJDEVLFKNHLQH0KHODXW]XVSUHFKHQ(UZDU VLFKHU GD VLFK LQ XQPLWWHOEDUHU 1lKH ]DKOUHLFKH $XIQDKPHJHUlWH EHIDQGHQ GLH MHGHV VHLQHU :RUWH HUIDWHQ ³,FK ]HUEUHFKH PLU DXFK QLFKW GHQ .RSI EHU PHLQ 6FKLFNVDO 'HU .ULHJHU .URYRU GHU VLFK LUJHQGZR LQ GLHVHP 0HWDOOKDXIHQ YHUVWHFNWPXPLFKW|WHQ,FKN|QQWHLKPVRQVWJHIlKUOLFKZHUGHQ 9HUJHEOLFKYHUVXFKWH)HOOPHUGLH*HGDQNHQGHV(ZLJHQ.ULHJHUV]XOHVHQ.URYRU KDWWHVLFKJHVFKW]W6HLQ%HZXWVHLQODJKLQWHUHLQHPSVLRQLVFKHQ6FKLUPYHUERUJHQ 1XUYRUKLQDOVGDV5DXVFKHQXQG'U|KQHQHUVFKROOGDKDWWHHUGHQ6FKLUPHLQZHQLJ JH|IIQHW'DVJHK|UWH]XVHLQHP$XIWULWW(USURML]LHUWHVHLQH0DFKW ³'LU KDW GLH $QJVW GHQ *HLVW YHUZLUUW GRQQHUWH .URYRU ³+DVW GX QLFKW HEHQ EHZLHVHQ GD GX PLU QLFKW JHIlKUOLFK ZHUGHQ NDQQVW" +DEH LFK QLFKW GHLQH 6SXU YHUIROJWYRQ0HGLGRRUDQZRGXGLFKQDFK*LOJLGHUNXQGLJWHVWXQGPLUYHUULHWVW GDGXWHOHSDWKLVFKH*DEHQEHVLW]WGHQQVRQVWKlWWHVWGX0LVKUDWQLFKWEHUZlOWLJHQ N|QQHQ"+DEHLFKGLFKQLFKWLQGLH&KDU\EGLVFKH6LUHQHJHORFNWGDPLWLFKGLFKDXV GHU1lKHEHREDFKWHQXQGGHLQH7DNWLNHQNHQQHQOHUQHQNRQQWH"+DEHLFKGLFKQLFKW ODXIHQODVVHQQDFKGHPGXGLH6LUHQH]HUVW|UWKDWWHVWREZRKOLFKGLFKDXIGHU6WHOOH KlWWH]XU5HFKHQVFKDIW]LHKHQN|QQHQ":WHLFKQLFKWYRQDOOHP$QIDQJDQGD GX QDFK 9DWRPDQGU\ NRPPHQ ZUGHVW ZHLO GHLQ VFKZDFKHU 9HUVWDQG HV VLFK ]XP 9RUVDW] JHPDFKW KDWWH GLH )UVWLQ GHU .LRMD ]X EHIUHLHQ GLH LFK DOV *HLVHO KDOWH ZHLOGLH.LRMDPLUXQERWPlLJVLQG"8QGLVWGHUOLVWHQUHLFKH.ZDQDQGXUQLFKWYRQ %DNXPSDL ELV KLHUKHU VWHWV DQ GHLQHU 6HLWH JHZHVHQ VR GD LFK EHU MHGHQ GHLQHU 6FKULWWHLQIRUPLHUWZDU"'XDXVJHUHFKQHWGXZLOOVWPLUJHIlKUOLFKZHUGHQ" 5|KUHQGHU 'RQQHU IHJWH EHU GDV QHEOLJH /DQG (V PXWH ZRKO GHU $XVGUXFN VS|WWLVFKHU+HLWHUNHLWVHLQGHVVHQGHU.ULHJHUVLFKEHIOHLLJWH)HOOPHU/OR\GK|UWH NDXP KLQ ,Q GLHVHP$XJHQEOLFNNDPHUVLFKZLUNOLFKZLHHLQ1DUUYRU:LHKDWWH 2ULVKDJHVDJW"³'HQ.ULHJHUHUNHQQVWGX(UWULWWYRUGLFKKLQXQGGXZHLWZHQGX YRUGLUKDVW.ZDQDQGXUNDQQVWXQGHQODQJDQGHLQHU6HLWHJHKHQXQGGXHUNHQQVW LKQ QLFKW (U KDWWH VLFK KHUHLQOHJHQ ODVVHQ ZLH HLQ $QIlQJHU .ZDQDQGXU LQ GHU 0DVNH GHV *DZURQ 6HPELODQ (U NRQQWH NHLQ RUJDQLVFKHV :HVHQ VHLQ 'LH *HGDQNHQGLH)HOOPHUHPSIDQJHQKDWWHOLHHQVLFKQLFKWIlOVFKHQ.ZDQDQGXUHLQ 5RERWHU PLW SVLRQLVFKHQ *HGDQNHQJHQHUDWRU GHU MHGH JHZQVFKWH )ROJH YRQ 0HQWDOLPSXOVHQ V\QWKHWLVLHUHQ NRQQWH (LQ 5RERWHU PLW VRUJIlOWLJHU $EVFKLUPXQJ VHLQHV ,QQHQOHEHQV REHQGUHLQ GHQQ GLH HPSILQGOLFKHQ 6HQVRUHQ GHU 1HW]NRPELQDWLRQ KlWWHQ VHLQH V\QWURQLVFKH 6WUHXHPLVVLRQ VRQVW RKQH =ZHLIHO UHJLVWULHUW 2K ZLH KDWWH HU VLFK QDUUHQ ODVVHQ :LH KDWWH HU GLH :DUQXQJHQ GHV ORJLVFKHQ 9HUVWDQGVLQGHQ:LQGJHVFKODJHQDOVGLHVHUGLH,QNRQJUXHQ]GHU*HIKOORVLJNHLWLQ
6HPELODQV*HGDQNHQHUNDQQWH (LQGQQHV/lFKHOQVWDKOVLFKDXIVHLQH/LSSHQ)DOOVHUHLQHV7URVWHVEHGXUIWHKLHU ZDU HU ,Q GHU WHUUDQLVFKHQ *HVFKLFKWH JDE HV HLQH JDQ]H 5HLKH YRQ 0lQQHUQ EHUKPWHUXQGEHGHXWHQGHU DOV GHU 0XWDQW )HOOPHU /OR\G GLH VLFK YRQ HLQHU )UDX GHQ.RSIKDWWHQYHUGUHKHQODVVHQ 'DVGU|KQHQGH/DFKHQGHV.ULHJHUVZDUYHUVWXPPW ³1HLQ YRU GLU EUDXFKH LFK PLFK QLFKW ]X IUFKWHQ ULHI .URYRU ³'X ELVW VFKODX DEHUJHJHQGLH:HLVKHLWXQGGLH(UIDKUXQJGHV(ZLJHQ.ULHJHUVJLOWGHLQH6FKOlXH ]X QLFKWV 'DKHU WlXVFKVW GX GLFK DXFK ZHQQ GX JODXEVW PLU EOLHEH QLFKWV DQGHUHV EULJDOVGLFK]XW|WHQ'XVROOVWGHQ+HUUVFKHUYRQ'KDWDEDDUYRQHLQHUDQGHUHQ 6HLWHNHQQHQOHUQHQ'DGXLPPHUQRFKYRQGHLQHU*HIl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³:HOFKH$UWYRQ=ZHLNDPSIKDVWGXLP6LQQ"IUDJWH)HOOPHU ³6WHOO GLU YRU GX EHILQGHVW GLFK LQ HLQHP *DUWHQ DQWZRUWHWH GHU .ULHJHU XQG DP .ODQJVHLQHU6WLPPHJODXEWHGHU0XWDQW]XHUNHQQHQGDGLH6DFKHLKP9HUJQJHQ EHUHLWHWH ³'LH 6LFKW LVW VFKOHFKW GHU 1HEHO KlQJW EHUDOO 6RODQJH GX GLFK LP *DUWHQ EHILQGHVWELVWGXPHLQ*HIDQJHQHU$EHUHVJLEWHLQHQ$XVJDQJQXUHLQHQ HLQ]LJHQ:HQQGXLKQGXUFKVFKUHLWHVWELVWGXIUHL)UHLOLFKKDEHLFKGDV5HFKWGLFK ]XMDJHQVRODQJHGXLP*DUWHQELVW,FKNDQQGLUGHQ:HJYHUOHJHQXQGGLFKLQGLH ,UUH OHLWHQ -H OlQJHU GX QDFK GHP $XVJDQJ VXFKVW RKQH LKQ ]X ILQGHQ GHVWR VFKZlFKHU ZLUVW GX (V JLEW LP *DUWHQ NHLQH1DKUXQJXQGGLH .lOWH ]HKUW GHLQHQ .|USHU DXV :HQQ LFK GLFK IDQJH KDEH LFK JHVLHJW :HQQ GX YRU 6FKZlFKH ]XVDPPHQEULFKVW XQG QLFKW PHKU ZHLWHU NDQQVW KDEH LFK JHVLHJW *HOLQJW HV GLU MHGRFKGXUFKGHQ$XVJDQJ]XHQWNRPPHQLVWGHU6LHJGHLQ ³:DV JHVFKLHKW GDQQ" HUNXQGLJWH VLFK )HOOPHU /OR\G ³,FK PHLQH QDFKGHP LFK GHQ$XVJDQJSDVVLHUWKDEH" ³'XELVWIUHL'XNDQQVWJHKHQZRKLQGXZLOOVW1LHPDQGZLUGGLFKEHKHOOLJHQ ³+|UWHVLKU%HVXFKHUGHV)HVWHVDXI9DWRPDQGU\ULHI)HOOPHU³'HU.ULHJHUKDW VHLQ:RUWJHJHEHQ $EHUPDOVHUVFKROOGDVGRQQHUQGHGU|KQHQGH/DFKHQGHV(ZLJHQ.ULHJHUV
³0DFKGLUXPPHLQH(KUHNHLQH6RUJHQ:XUPULHIHU³.URYRUEULFKWVHLQ:RUW QLFKW ³8QGZHQQLFKXQWHUOLHJH"ZROOWH)HOOPHUZLVVHQ ³'X ZLUVW HV QLFKW PHKU VSUHQ DQWZRUWHWH .URYRU ³:HQQ LFK GLFK IDQJH YHUGDPSIWGHLQ*HKLUQ:HQQGXYRU6FKZlFKH]XVDPPHQEULFKVWEHZLUNWGLH1DWXU VHOEVWGHLQHQ7RG ³'HU .DPSI LVW XQIDLU SURWHVWLHUWH )HOOPHU ³'HU *DUWHQ LVW QLFKW ZLUNOLFK 'X HU]HXJVW LKQ PLW GHLQHQ SVLRQLVFKHQ 0DVFKLQHQ 'X EHUEOLFNVW LKQ XQG ZHLW ]X MHGHU6HNXQGHZRLFKPLFKDXIKDOWH ³(VLVWPHLQ*DUWHQXQGLFKHU]HXJHLKQEHVWlWLJWH.URYRU³$EHULFKKDEHHVQLFKW Q|WLJPLUGHQ=ZHLNDPSIOHLFKW]XPDFKHQ(UZlUHPLUVRQVWNHLQ9HUJQJHQXQG GLH%HVXFKHUODQJZHLOWHQVLFK,FKELQVHOEVWLP*DUWHQXQGPHLQH$XJHQUHLFKHQ QLFKWZHLWHUDOVGHLQH'XPXW6SXUHQOHJHQGLHPLFKLQGLH,UUHIKUHQ'HU*DUWHQ LVW JUR ,FK ZLOO GLFK IDQJHQ QLFKW ZDUWHQ ELV GLH (UVFK|SIXQJ GLFK EHUPDQQW ,FKOLHJHQLFKWLQGHU1lKHGHV$XVJDQJVDXIGHU/DXHU ³,FKQHKPHGLFKEHLP:RUWULHI)HOOPHU ³7XGDV:XUPDQWZRUWHWHGHU.ULHJHU³'DV*HERWGHU(KUHOlWHVQLFKW]XGD LFKGLFKWlXVFKH ³:DQQEHJLQQWGHU.DPSI" ³,QHLQHU6WXQGH6WDQGDUG]HLW 'DV%LOGGHV5LHVHQLQGHUVWlKOHUQHQ5VWXQJ]HUSODW]WHPLWGRQQHUQGHP.QDOO(LQ %OLW] YRQ XQHUWUl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lWHPLWVLFK$EHUHU ZUGHQLFKWLQGHU1lKHGHV$XVJDQJVDXIGHU/DXHUOLHJHQ'DVKlWWHVLFKPLWVHLQHU (KUHQLFKWYHUHLQEDUW )HOOPHUVHW]WHGDV*UDYR3DNLQ%HWULHE(UKDWWHQRFKNQDSSHLQH6WXQGH=HLWGDV *HOlQGH ]X HUNXQGHQ :DV ZHQQ HU GHQ $XVJDQJ ZlKUHQG GHU QlFKVWHQ IQI]LJ 0LQXWHQ IDQG" (U JODXEWH QLFKW GDUDQ GD LKP GDV JHOLQJHQ ZUGH 6R OHLFKW PDFKWHLKP.URYRUGLH6DFKHQLFKW$EHULPPHUKLQZDUHVHLQH0|JOLFKNHLWGLHPDQ LP$XJHEHKDOWHQPXWH 'HU 1HEHO ZDU GLFKW $XV ]HKQ 0HWHUQ +|KH NRQQWH HU (LQ]HOKHLWHQ GHV %RGHQV
QLFKW PHKU HUNHQQHQ (U JLQJ DXI DFKW 0HWHU KLQXQWHU XQG JOLWW PLW KRKHU *HVFKZLQGLJNHLWEHUGDVYRP1HEHOJUQGOLFKGXUFKQlWH*HOlQGH (U VFKOR GHQ +HOP (V IURU LKQ JDQ] HUElUPOLFK 'HU 6\QWURQ HUZLGHUWH DXI VHLQH lUJHUOLFKH$QIUDJH ³'LH .OLPDWLVLHUXQJ LVW LQ %HWULHE 'LH ,QQHQWHPSHUDWXU OLHJW EHL IQIXQG]ZDQ]LJ *UDG )HOOPHU HUVFKUDN 'LH .lOWH GLH HU HPSIDQG JDE HV QLFKW ZLUNOLFK 6LH ZDU %HVWDQGWHLO GHU SVLRQLVFKHQ 7lXVFKXQJ GHU DXFK GLH GVWHUH QHEHOHUIOOWH /DQGVFKDIW LKU 'DVHLQ YHUGDQNWH*DEHVQRFKPHKUZDVHUIUUHDOKLHOWGDVLQ GHQ %HUHLFK GHU ,UUHDOLWlW JHK|UWH" (U SUIWH GLH )XQNWLRQHQ GHU 1HW]NRPELQDWLRQ HLQHQDFKGHUDQGHUHQGXUFK(UOHLFKWHUWQDKPHU]XU.HQQWQLVGDGLH7HFKQLNGLH LKP]XU9HUIJXQJVWDQGQDFKZLHYRUHLQZDQGIUHLIXQNWLRQLHUWH(VZDUQXUVHLQ HLJHQHV7HPSHUDWXUHPSILQGHQGDVDXISVLRQLVFKH:HLVHEHHLQIOXWZXUGH 8P GLH 2ULHQWLHUXQJ EUDXFKWH HU VLFK YRUOlXILJ QLFKW ]X NPPHUQ 'HU 6\QWURQ ]HLFKQHWH JHWUHXOLFK MHGHV VHLQHU 0DQ|YHU DXI XQG ZUGH PLW GHU =HLW HLQH ]XYHUOlVVLJH.DUWHGHV*DUWHQVHUVWHOOHQ(UKDWWHVLFKNQDSS]Z|OI.LORPHWHUZHLW EHZHJWDOVGHU3LNRFRPSXWHUPHOGHWH ³9RUXQV(QHUJLHEDUULHUH(VJLEWNHLQ'XUFKNRPPHQ )HOOPHUZXWHZDVHU]XWXQKDWWH ³:LUIOLHJHQDQGHU%DUULHUHHQWODQJ,FKPXZLVVHQZHOFKH$XVPDHGDV*HOlQGH KDW 'HU )OXJ HQWODQJ GHU %DUULHUH LQ HLQHU JXWHQ KDOEHQ 6WXQGH DEJHZLFNHOW EUDFKWH ]ZHL (UNHQQWQLVVH (UVWHQV JDE HV QLUJHQGZR HLQH 6WHOOH DQ GHU GLH %DUULHUH HLQH /FNH DXIZLHV 'HU $XVJDQJ GHQ )HOOPHU HUUHLFKHQ PXWH XP GDV 'XHOO ]X JHZLQQHQ ODJ QLFKW DQ GHU 3HULSKHULH GHV *DUWHQV (U PXWH LKQ ZRDQGHUV VXFKHQ =ZHLWHQV EHVD GHU *DUWHQ GLH )RUP HLQHV .UHLVHV YRQ .LORPHWHUQ PLQXV HLQ SDDUKXQGHUW0HWHUQ'XUFKPHVVHU'LH6WUHFNHGLH)HOOPHUVRHEHQLQQHUKDOEYRQ 0LQXWHQ]XUFNJHOHJWKDWWHEHWUXJ.LORPHWHU'DUDQZDUDXIGHQHUVWHQ%OLFN QLFKWV (UVWDXQOLFKHV $EHU GDQQ ILHO )HOOPHU HLQ GD HU YRQ GHU 6WHLQSODWWH DXV NQDSS ]Z|OI .LORPHWHU ]XUFNJHOHJW KDWWH ELV HU GLH (QHUJLHEDUULHUH HUUHLFKWH (U ZDUJHUDGOLQLJJHIORJHQ'LH6WHLQSODWWHPLWGHQ]ZHL7DQQHQElXPHQODJDOVRJHQDX LP0LWWHOSXQNWGHV.UHLVHV =XIDOO"2GHUHLQ8PVWDQGYRQ%HGHXWXQJ" ³'X KDVW QLFKW PHKU YLHO =HLW PDKQWHGHU 6\QWURQ ³,Q IQIXQG]ZDQ]LJ0LQXWHQ EHJLQQWGLH-DJG 'DV *HOlQGH GHV *DUWHQV ZDU HLQW|QLJ (V JDE NHLQH QHQQHQVZHUWHQ +|KHQXQWHUVFKLHGH KLHU XQG GD HLQHQ ]LHOORV YHUODXIHQGHQ *UDEHQ RGHU HLQH %RGHQHUKHEXQJ GLH NDXP HLQ SDDU =HQWLPHWHU ZHLW EHU LKUH 8PJHEXQJ KLQDXVUDJWH 'HU K|FKVWH 3XQNW GHU /DQGVFKDIW VFKLHQ )HOOPHU GLH .XSSH GHU 6WHLQSODWWH]XVHLQDXIGHUHUZLHGHU]XVLFKJHNRPPHQZDU'LH9HJHWDWLRQZDULQ
JOHLFKHU:HLVHHLQIDOOVORV*HOEHV*UDVGDVWURW]GHUGXUFKGULQJHQGHQ)HXFKWLJNHLW QXUHLQJHULQJHV:DFKVWXPHQWZLFNHOWHEHGHFNWHGHQJU|WHQ7HLOGHV/DQGHV+LHU XQG GD ZXFKVHQ HLQ SDDU %lXPH PHLVW LQ NOHLQHQ *UXSSHQ 6LH JHK|UWHQ DOOH GHUVHOEHQ6SH]LHVDQ1DWUOLFKNDQQWH)HOOPHU/OR\GHUVWHLQHQNOHLQHQ%UXFKWHLO GHV *HOlQGHV $EHU HU KDWWH NHLQHQ $QOD ]X JODXEHQ GD HV DQGHUVZR DQGHUV DXVVlKHDOVDQGHQ2UWHQGLHHUEHUIORJHQKDWWH ³:lUHHVQW]OLFKLQ(UZlJXQJ]X]LHKHQGDGLH6WHLQSODWWHGHU2UWGHV$XVJDQJV LVW"HUNXQGLJWHVLFKGHU6\QWURQ ³'DUDQKDEHLFKDXFKVFKRQJHGDFKWDQWZRUWHWH)HOOPHU ³-D QDWUOLFK VDJWH GHU 6\QWURQ PLW VHLQHU NHLIHQGHQ $OWPlQQHUVWLPPH ³,PPHU ZHQQPLUHWZDV*HVFKHLWHVHLQIlOOWKDVWGXVFKRQYRUKHUGDUDQJHGDFKW ³0HFNHUHQLFKWWDGHOWH)HOOPHU³,FKELQVFKOLHOLFKGRUWDXIJHWDXFKWQLFKWZDKU" :DVHLQ(LQJDQJLVWOlWVLFKDXFKDOV$XVJDQJEHQW]HQ$XHUGHPOLHJWGLH3ODWWH LP=HQWUXPGHV.UHLVHV(VSDWDOOHVJXW]XVDPPHQQXUHLQHVQLFKW ³:DVLVWGDV" ³(VLVW]XHLQIDFK)UVRGXPPKlOW.URYRUPLFKQLFKWGDHUPLUQLFKW]XWUDXWHYRQ VHOEHUDXIGLHVH,GHH]XNRPPHQ8QG]ZDUUHFKWEDOG ³1DXQG":HUKDWJHVDJWGDHUGHQ=ZHLNDPSIODQJHKLQDXV]LHKHQZLOO"-HNODUHU GLH 9HUKlOWQLVVH GHVWR NU]HU GHU .DPSI ,FK QHKPH DQ GD (ZLJH .ULHJHU DXFK QRFK DQGHUHV ]X WXQ KDEHQ DOV VLFK PLW XQHUZQVFKWHQ (LQGULQJOLQJHQ KHUXP]XVFKODJHQ )HOOPHUZLGHUVWDQGGHP'UDQJGDV*UDYR3DNVRIRUWZLHGHULQ%HWULHE]XQHKPHQ (U KDWWH IDVW QRFK ]ZDQ]LJ 0LQXWHQ =HLW ELV ]XP %HJLQQ GHV =ZHLNDPSIV (U EUDXFKWH EHL +|FKVWJHVFKZLQGLJNHLW QLFKW HLQPDO ]ZHL 0LQXWHQ XP GLH 3ODWWH ]X HUUHLFKHQ$EHUGLH,GHHWDXJWHQLFKWV.URYRUZUGHGDIUJHVRUJWKDEHQGDLKP GHU :LGHUVDFKHU QLFKW YRU %HJLQQ GHV .DPSIHV HQWNRPPHQ NRQQWH $QGHUHUVHLWV YHUULHW HU ZHQQ HU MHW]W GLH 3ODWWH DXIVXFKWH GD HU GHQ $XVJDQJ EHUHLWV NDQQWH 'DVZDUNHLQHVZHJV]XVHLQHP9RUWHLO $OOPlKOLFKNULVWDOOLVLHUWHVLFKHLQ3ODQLQVHLQHP9HUVWDQG(UPXWH'LQJHWXQGLH .URYRU YHUZLUUWHQ (LQLJHV YRQ GHP ZDV HU YRQ QXQ DQ XQWHUQDKP ZUGH GHU (ZLJH .ULHJHU YRQ LKP HUZDUWHQ $QGHUHV PXWH LKQ YHUEOIIHQ (V JDOW HLQH JHHLJQHWH 0LVFKXQJ YRQ 0DQDKPHQ ]X ILQGHQ YRQ GHQHQ GLH HLQHQ WULYLDO GLH DQGHUHQ DXVJHIDOOHQ ZDUHQ 7URW] GHU XPIDQJUHLFKHQ WHFKQLVFKHQ $XVVWDWWXQJ GHU 1HW]NRPELQDWLRQ ZDUHQ GLH 0LWWHO GLH LKP ]XU 9HUIJXQJ VWDQGHQ EHVFKUlQNW (V JDE IU LKQ ZLH JHVDJW NHLQH JURH +RIIQXQJ GHQ =ZHLNDPSI DOV 6LHJHU ]X EHVWHKHQ$EHUHUZROOWHHVZHQLJVWHQVYHUVXFKHQ (UIORJGDYRQ'HQ.XUVEHUOLHHUGHP6\QWURQ(UZUGHLKQVRZlKOHQGDHU LP /DXI GHU =HLW HLQHQ GHWDLOOLHUWHQ hEHUEOLFN EHU GDV JHVDPWH *HOlQGH GHV *DUWHQV JHZDQQ -H EHVVHU GHU &RPSXWHU VLFK LQ GHU /DQGVFKDIW DXVNDQQWH GHVWR JU|HUZDUHQ)HOOPHUV&KDQFHQ
%HL GHU HUVWHQ %DXPJUXSSH PDFKWH GHU 0XWDQW KDOW 'LH 9HJHWDWLRQ WURII YRQ )HXFKWLJNHLW $EHU GHU VFKDUIJHEQGHOWH (QHUJLHVWUDKO GHV 1DGHOVWUDKOHUV WUXJ GLH +LW]H HLQHU 6RQQH LQ VLFK )HOOPHU VFKQLWW YLHU %lXPH ]X HLQHP 6FKHLWHUKDXIHQ ]XVDPPHQ %LQQHQ ZHQLJHU 0LQXWHQ EUDFKWH HU HLQ )HXHU ]XVWDQGH YRQ GHP ]X KRIIHQZDUGDHVHLQSDDU6WXQGHQODQJYLHOOHLFKWQLFKWKHOODXIEUHQQHQDEHUGRFK ZHQLJVWHQVJORVHQZUGH 'HU 9RUJDQJ ZXUGH IQIPDO ZLHGHUKROW 'LH 2UWH DQ GHQHQ )HOOPHU )HXHU HQWIDFKWH ODJHQ ZDKOORV EHU GDV *DUWHQODQG YHUWHLOW 'LH $EVLFKW GHV 0XWDQWHQ ZDU GLH ,QIUDURW6XFKJHUlWH GHV .ULHJHUV ]X YHUZLUUHQ 'LH %UDQGKHUGH ZDUHQ +LW]HTXHOOHQ DXI GLH GLH ,QIUDURWVXFKHU DQVSUHFKHQ ZUGHQ (U VFKXI VLFK VRPLW HLQHQ 6W|UJHUlXVFKSHJHO LQ GHP GDV ELFKHQ :lUPH GDV YRQ VHLQHP .|USHU DXVJLQJHUWUDQN 'DV ZDU HLQH GHU 0DQDKPHQ GLH .URYRU HUZDUWHWH 0LW GHU DQGHUHQ KRIIWH )HOOPHUUHFKQHWHHUQLFKW(UKLHGHQ6\QWURQHLQHQ.XUVHLQVFKODJHQGHU]XHLQHP NOHLQHQ*HK|O]HWZDHLQHQ.LORPHWHUYRQGHU6WHLQSODWWHHQWIHUQWIKUWH ³'X ELVW GLU GDUEHU LP NODUHQ GD GLH 6WXQGH OlQJVW XP LVW QLFKW ZDKU" HUNXQGLJWHVLFKGHU6\QWURQ )HOOPHU KDWWH VLFK XP GHQ $EODXI GHU =HLW QLFKW PHKU JHNPPHUW (U VDK DXI GLH 8KUXQGHUVFKUDN1DFK.URYRUV0DJDEHKDWWHGHU=ZHLNDPSIVFKRQYRU]ZDQ]LJ 0LQXWHQ EHJRQQHQ (U VDQN LQ GDV *HK|O] KLQHLQ +LHU KDWWH HU ZHQLJVWHQV YRU GLUHNWHU6LFKWDXVUHLFKHQGH'HFNXQJ ³:LUPVVHQXQVWUHQQHQVDJWHHU]XGHP6\QWURQ ³,FKKDWWHPLUVFKRQVRHWZDVJHGDFKWNDPGLH$QWZRUW³0HLQVWGXZLUNOLFKGX NlPHVWRKQHPLFKDXV" ³1XUVFKZHUPHLQWH)HOOPHUPLWOHLVHP6SRWW³$EHULFKKRIIHGDGXLQ.U]H ZLHGHU]XPLUVWRHQZLUVW ³,FKZHUGHVRYLHO/lUPPDFKHQYHUVSUDFKGHU6\QWURQ³GD.URYRUJDUQLFKWHUVW DXIGLH,GHHNRPPWGLFKDQGHUVZR]XVXFKHQ ³hEHUWUHLE V QLFKW ZDUQWH )HOOPHU ³'HU .ULHJHU NlPH XQV VRQVW ZRP|JOLFK DXI GLH6FKOLFKH ³9HUODGLFKDXIPLFK 'LH 9HUVFKOVVH O|VWHQ VLFK 'LH .RPELQDWLRQ JOLWW )HOOPHU YRP /HLE 'DUXQWHU WUXJ HU OHLFKWH 7DJHVNOHLGXQJ (U IURU HUElUPOLFK MHW]W QRFK PHKU DOV ]XYRU 'HU =ZHLNDPSI GXUIWH QLFKW ODQJH GDXHUQ VRQVW PDFKWH LKP GLH +\SRWKHUPLH GHQ *DUDXV 'LH 1HW]NRPELQDWLRQ YHUZDQGHOWH VLFK LQ HLQ XQDQVHKQOLFKHV .QlXHO $XV GHP .QlXHOGUDQJGLH6WLPPHGHV6\QWURQV ³)UDOOHVZDVHVZHUWLVW,FKZQVFKHGLU+DOVXQG%HLQEUXFK 'DV%QGHOVHW]WHVLFKLQ%HZHJXQJ(VVWLHJQDFKREHQXQGYHUVFKZDQGLP1HEHO 9RQ MHW]W DQ ZUGH GHU 6\QWURQ GLH WHFKQLVFKHQ )XQNWLRQHQ GHU 5HLKH QDFK
GXUFKVSLHOHQYRUVLFKWLJ]ZDUDEHUGRFKVRGD6WUHXVLJQDOHHU]HXJWZXUGHQGLH .URYRUPLW*HUlWHQDXVUHLFKHQGHU(PSILQGOLFKNHLWUHJLVWULHUHQNRQQWH)HOOPHUKDWWH GHQ 3DUDO\VDWRU XQG GHQ 1DGHOVWUDKOHU DQ VLFK JHQRPPHQ 0HKU EHVD HU QLFKW DQ :DIIHQ (U NDXHUWH LP *HVWUlXFK XQG KRUFKWH ,QGHP HU VLFK GHU .RPELQDWLRQ HQWOHGLJWH KDWWH HU VLFK GHU 0|JOLFKNHLW EHUDXEW GLH 1lKH GHV *HJQHUV RUWHUWHFKQLVFK ]X HUPLWWHOQ(UZDUDXIVHLQHQDWXUJHJHEHQHQ6LQQHDQJHZLHVHQ (V ZDU VWLOO ELV DXI GDV OHLVH 5LHVHOQ GHU )HXFKWLJNHLW )HOOPHU ZROOWH QRFK HLQH 9LHUWHOVWXQGH YHUVWUHLFKHQ ODVVHQ ELV GHU 6\QWURQ HLQH 6SXU JHOHJW KDWWH GLH GHQ (ZLJHQ.ULHJHUKRIIHQWOLFKEHVFKlIWLJHQZUGH,P'DXHUODXIEUDXFKWHHUVHFKVRGHU VLHEHQ 0LQXWHQ XP GLH 6WHLQSODWWH ]X HUUHLFKHQ 'DQQ ZUGH VLFK KHUDXVVWHOOHQ ZLH OHLFKW HV ZDU GHQ $XVJDQJ ]X ILQGHQ 'DUDQ GD VLFK VHLQ JDQ]HV 9RUKDEHQ QXU DXI HLQH +\SRWKHVH VWW]WH DXI GLH +\SRWKHVH QlPOLFK GD GHU $XVJDQJ WDWVlFKOLFK DQ GHU 6WHLQSODWWH ]X ILQGHQ ZDU ZDJWH HU QLFKW ]X GHQNHQ :HQQ VLFK VHLQH9HUPXWXQJDOVIDOVFKHUZLHVZDUHUYHUORUHQ (U VFKUDN DXI 9RQ LUJHQGZRKHU KDWWH HU HLQH 6WLPPH JHK|UW 1HLQ QLFKW .URYRUV 6WLPPH'LHVHKLHUZDUVDQIWXQGIUHXQGOLFK *LOJLG VSUDFK ]X LKP(UK|UWHLKUH :RUWHPLWVHLQHP%HZXWVHLQ ,FK VSUH GHLQH *HGDQNHQ VDJWH *LOJLG ,FK IKOH GHLQH 6RUJH 9HU]DJH QLFKW .URYRUZLUGGLFKQLFKWEHVLHJHQN|QQHQ ,KUH:RUWHZDUHQGUlQJHQGGDEHLYROOHU:lUPHXQG=XQHLJXQJ(UEHUDXVFKWHVLFK DP VHQ .ODQJ LKUHU 6WLPPH 6HLQ +HU] NORSIWH GD HU GHQ 3XOV LQ GHQ 2KUHQ SRFKHQK|UWH ,FKIUFKWHPLFKQLFKWDQWZRUWHWHHULQ*HGDQNHQ,FKZHUGH.URYRUEHVLHJHQXP GHLQHWZLOOHQ 6LH DQWZRUWHWH QLFKW VRIRUW (LQ :LUUZDUU YRQ *HIKOHQ VWU|PWH DXI LKQ HLQ 6LH HPSIDQG VHLQH /LHEH (U YHUVXFKWH LKUH HPRWLRQHOOH 5HDNWLRQ ]X GHXWHQ DEHU GDV JHODQJLKPQLFKW=XYLHOZDUPLWHLQDQGHUYHUTXLFNW ,UJHQGZRLQGHU:HLWHGHV+\SHUNRVPRVVDJWHVLHJLEWHVHLQ8QLYHUVXPHLQHVXQWHU QDKH]X XQ]lKOLJ YLHOHQ 3DUDOOHOXQLYHUVHQ LQ GHP HLQ NKQHU )UHPGHU *LOJLG GLH )UVWLQ GHU .LRMD DXV .URYRUV +lQGHQ HUUHWWHW LQGHP HU DXV HLJHQHU .UDIW GHQ (ZLJHQ.ULHJHUEHVLHJW(UQLPPW*LOJLGPLWVLFK$XIGHU:HOWGHU.LRMDILQGHWHU HLQHQHXH+HLPDW(UXQG*LOJLGVFKOLHHQHLQHQ/HEHQVEXQG 6LHPDFKWHHLQHNXU]H3DXVH'DQQIXKUVLHIRUW (VLVWHLQVFK|QHV%LOG,FKWUlXPHGDYRQ$EHULFKZHLQLFKWREGDV8QLYHUVXPGDV LFKYRUPLUVHKHGDVXQVHUHLVW 'LH7UDXHUGLHDXVLKUHQ:RUWHQVSUDFKPDFKWH)HOOPHUEHWURIIHQ$EHUGDVGXUIWH HUVLFKQLFKWDQPHUNHQODVVHQVDJWHHUVLFK(UZDUGHU6WDUNH6HLQH$XIJDEHZDU HV*LOJLGGLH1LHGHUJHVFKODJHQKHLWDXV]XUHGHQ =ZHLIHOVWGXDQPHLQHU.UDIW"IUDJWHHU
(UVDKVLHYRUVLFK(UVDKGDV%LOGGDVLKUH*HGDQNHQEHUWUXJHQ6LHVDLQGHU NDKOHQ IHQVWHUORVHQ .DPPHU 6LH WUXJ GDV JUREH *HZDQG $EHU LKUH $XJHQ OHXFKWHWHQLQOLHEHYROOHU=XQHLJXQJ,KUH6FK|QKHLWIHVVHOWHLKQ6RVHKUIDV]LQLHUWH LKQGDV%LOGGDHU0KHKDWWHVLFKDXILKUH:RUWH]XNRQ]HQWULHUHQ ,FKVSUHbUJHULQGHLQHQ:RUWHQ'XELVWYHUOHW]W6HL VQLFKW'XELVWNUlIWLJ'XKDVW 0XW $EHU .URYRU LVW HLQ 0lFKWLJHU $XI VHLQHP HLJHQHQ *HOlQGH ZLUG GHU =ZHLNDPSIDXVJHWUDJHQ(UKDWDOOH9RUWHLOHGXNHLQHQ(VGDUIQLFKWJHVFKHKHQGD HUGLFKEHVLHJW1LFKWVWUlIHPLFKKlUWHUDOVGHLQ7RG'HVZHJHQPXLFKGLUKHOIHQ 9HUVWHKVWGXPLFK" *HGDQNHQOJHQQLFKW(UHPSIDQGLKUH6RUJHXQGGLH*HZLKHLWGDVLHLKPJDOW PDFKWHLKQJOFNOLFK :LHZLOOVWGXPLUKHOIHQ"IUDJWHHU /DPLFKGDUEHUVFKZHLJHQDQWZRUWHWHVLH(VLVWP|JOLFKGDGHU.ULHJHUPHLQH *HGDQNHQDEK|UW1XUVRYLHOZLOOLFKGLUVDJHQ'DV9RONGHU.LRMDLVWVHLQHP=LHO QDKH (UYHUVWDQGVLHQLFKW6LHVSUWHVHLQH9HUZLUUXQJ$EHUDQVWDWWLKPHLQH(UNOlUXQJ ]X JHEHQ EHJDQQ VLH ]X OlFKHOQ (V ZDUHLQZHKPWLJHVHQWVDJHQGHV/lFKHOQGDV LKQ PLW 7UDXULJNHLW HUIOOWH 'DV %LOG YHUEODWH 'LH PHQWDOH 9HUELQGXQJ ZDU XQWHUEURFKHQ (LQH=HLWODQJZDUHUZLHEHQRPPHQ(VZDULKPHWZDVPLWJHWHLOWZRUGHQGDVDOOH VHLQH7UlXPH]XQLFKWHPDFKWH$EHUHUYHUVWDQGGLH0LWWHLOXQJQLFKW(UHPSIDQGIDVW DOV *HZLKHLW GD *LOJLG LKP QLFKW JHK|UHQ ZUGH $EHU HU NRQQWH VLFK QLFKW HUNOlUHQZDUXPGDVVRVHLQPXWH 'LH .lOWH VFKUHFNWH LKQ VFKOLHOLFK DXI (U KDWWH ]X ]LWWHUQ EHJRQQHQ $OV HU VLFK DXIULFKWHWHXQGGXUFKGDV*HVWUlXFKLQGLH5LFKWXQJVSlKWHLQGHUGLH6WHLQSODWWHODJ NODSSHUWHQLKPGLH=lKQH(UEHVDQQVLFKDXIVHLQHQ3ODQ(VJDEHWZDVIULKQ]X WXQ9LHOOHLFKWJHODQJHVLKP*LOJLG]XEHZHLVHQGDHUGHQ(ZLJHQ.ULHJHUGRFK DXVHLJHQHU.UDIWEHVLHJHQNRQQWH 'LH 6WHLQSODWWH ODJ VR ZLH HU VLH LQ (ULQQHUXQJ KDWWH (U VXFKWH QDFK 6SXUHQ LP QDVVHQ*UDVDEHUGDZDUQLFKWV]XVHKHQ (UXQWHUVXFKWHGHQ6WHLQ(UZDUHWZDIQI0HWHUODQJXQGGUHL0HWHUEUHLW$QGHU K|FKVWHQ 6WHOOH ODJ GLH .XSSH GHU 3ODWWH DQGHUWKDOE 0HWHU EHU GHP 1LYHDX GHV *UDVODQGV'HU6WHLQZDUJODWW(VJDENHLQH)XJHQ)HOOPHUVFKlW]WHGDGLH3ODWWH VLFK DOV *DQ]HV EHZHJHQ ODVVHQ PVVH :HQQ PDQ VLH GUHKWH RGHUEHLVHLWHVFKRE NDPXQWHULKUZDKUVFKHLQOLFKGHU$XVJDQJ]XP9RUVFKHLQGHQHUSDVVLHUHQPXWH XPGHQ=ZHLNDPSI]XJHZLQQHQ (UOLHVLFKDXIGLH.QLHQLHGHUXQGEHJDQQGHQXQWHUHQ5DQGGHU3ODWWH=HQWLPHWHU XP=HQWLPHWHU]XXQWHUVXFKHQ:HQQHVLUJHQGZRHLQHQ0HFKDQLVPXVJDEGHUGHLQ 6WHLQEHZHJWHGDQQNRQQWHHUVLFKQXUKLHUEHILQGHQ6LFKHUOLFKODJHUQLFKWDXIGHU
2EHUIOlFKHGHU3ODWWHVRQVWKlWWHPDQLKQVHKHQPVVHQ (WZDHLQ9LHUWHOGHV8PIDQJVGHU3ODWWHKDWWH)HOOPHU/OR\GDEJHVXFKWGDK|UWHHU HLQ*HUlXVFK(UULFKWHWHVLFKDXI(LQUK\WKPLVFKHV'U|KQHQUROOWHGXUFKGHQ1HEHO 6FKULWWH*HKHW]WVDKHUVLFKXP'DV*HOlQGHZDURKQH'HFNXQJ1XUGHU1HEHOERW LKP 6FKXW] (U KlWWH GDYRQODXIHQP|JHQXPVLFKLP'XQVW]X YHUVWHFNHQ DEHU HU NRQQWHQLFKWHUNHQQHQZRKHUGDV'U|KQHQGHU6FKULWWHNDP (LQHPlFKWLJH6WLPPHKDOOWHEHUGDV/DQG.URYRUV6WLPPH ³'DKDEHLFKLKQGHQ:LFKW6FKODXLVWHUGDVPXLFKLKPODVVHQ$EHUVHKWZLH HU]LWWHUW(UZHLGDVHLQH6WXQGHJHVFKODJHQKDW 'HU 1HEHO WHLOWH VLFK (LQH =RQH JUHOOHU +HOOLJNHLW HQWVWDQG ,QPLWWHQ GHV /LFKWNUHLVHV HUVFKLHQ .URYRU GHU (ZLJH .ULHJHU (U EHZHJWH VLFK PLW ZHLW DXVJUHLIHQGHQ 6FKULWWHQ 0LW MHGHU *HKEHZHJXQJ OHJWH HU PHKU DOV ]ZHL 0HWHU ]XUFN -HGHVPDO ZHQQ HU GHQ )X DXIVHW]WH IXKU HV ZLH HLQ JUROOHQGHV (UGEHEHQ GXUFK GHQ %RGHQ 'LH PlFKWLJH 5VWXQJ VFKLPPHUWH LP /LFKW :LH HLQ .ULHJVJRWW GHU$OWHQNDP.URYRUHLQKHUJHVFKULWWHQ(UKLHOWXQPLWWHOEDUDXIGLH6WHLQSODWWH]X )HOOPHU/OR\GZDUIVLFK]X%RGHQ9RUVLFKKDWWHHUGHQOHLFKWDXIJHZ|OEWHQ6WHLQ HLQHMlPPHUOLFKH'HFNXQJ(UKLHOWGHQ3DUDO\VDWRUVFKXEHUHLWLQGHU+DQG$EHU GHU 9HUVWDQG VDJWH LKP GD HV VLQQORV ZDU DXI GHQ .ULHJHU ]X IHXHUQ 6HLQH 5VWXQJ EHVWDQG QLFKW QXU DXV 0HWDOO 6LH ZDU PLW HQHUJHWLVFKHQ 6FKLUPIHOGHUQ GXUFKZLUNWGLH.URYRUVRJXWZLHXQYHUZXQGEDUPDFKWHQ 'HU.RORNDPKHUDQ'LHYLHU0HWHUKRKH6lXOHHLQHV%HLQVHUKREVLFKNQLFNWHDP .QLHJHOHQNDEXQGVHQNWHVLFKZLHGHULQGLH7LHIH9RU6FKUHFNHUVWDUUWVDK)HOOPHU /OR\G HLQH EUHLWH DQGHUWKDOE 0HWHU ODQJH VWlKOHUQH 6RKOH DXI VLFK ]XNRPPHQ (U ZROOWH VLFK EHLVHLWH ZHUIHQ DEHU LP HQWVFKHLGHQGHQ $XJHQEOLFN YHUVDJWHQ LKP GLH 0XVNHOQGHQ'LHQVW(UNRQQWHVLFKQLFKWPHKUEHZHJHQ (V ZXUGH ILQVWHU (LQ KDOOHQGHU .UDFK ZLH YRQ HLQHU PlFKWLJHQ ([SORVLRQ WREWH GXUFK GLH 'XQNHOKHLW )HOOPHU ZDUWHWH DXI GLH 3HLQ GHV =HUTXHWVFKWZHUGHQV $EHU GHU 6FKPHU] EOLHE DXV 'LH )LQVWHUQLV OLFKWHWH VLFK 9HUEOIIW VDK )HOOPHU DXI 9RU LKPODJGLH6WHLQSODWWH.HLQH6SXUZLHVGDUDXIKLQGDGHUWRQQHQVFKZHUH'UXFN GHVVWlKOHUQHQ6WLHIHOVVLHJHWURIIHQKDWWH $EHU GDV UK\WKPLVFKH 'U|KQHQ ODJ QRFK LPPHU LQ GHU /XIW )HOOPHU ZDQGWH VLFK XP 'D VDK HU GHQ (ZLJHQ .ULHJHU ZLH HU EHU GDV QDVVH *UDV GDKLQVFKULWW ]ZHL 0HWHU PLW MHGHP 6FKULWW (U ZDQGWH GHP 0XWDQWHQ GHQ 5FNHQ XQG ZlKUHQG )HOOPHUXQJOlXELJKLQWHULKPGUHLQVWDUUWHU|KUWHHUPLWZHLWKLQKDOOHQGHU6WLPPH ³(V ZDU YRQ DOOHP $QIDQJ NODU GD HU PLU QLFKW HQWNRPPHQ NRQQWH 'HU :XUP :LHPVVHQLKPGLH0lFKWHGHV6FKLFNVDOVGHQ*HLVWYHUZLUUWKDEHQGDHUJODXEWH JHJHQHLQHQGHU(ZLJHQ.ULHJHUEHVWHKHQ]XN|QQHQ 'DV *HIKO GHU (UOHLFKWHUXQJ ZDU VR EHUZlOWLJHQG GD )HOOPHU VLFK DXI GLH
6WHLQSODWWHVWW]HQPXWHXPQLFKW]X%RGHQ]XVWU]HQ'LH.QLHZDUHQLKPZHLFK JHZRUGHQ 1RFK LPPHU QLFKW ZLOOHQV ]X JODXEHQ GD LKQ GHU 7RG WDWVlFKOLFK YHUVFKPlKW KDWWH VDK HU GRUWKLQ ZRKHU .URYRU JHNRPPHQ ZDU 'HU JUHOOH /LFKWVFKHLQZDUYHUVFKZXQGHQDEHUDXFKLQGHUWUEHQ+HOOLJNHLWGHV1HEHOVZDU HLQGHXWLJ ]X VHKHQ GD GLH ULHVLJHQ 6WLHIHO GHV .ULHJHUV NHLQH 6SXU KLQWHUODVVHQ KDWWHQ )HOOPHU ODFKWH WURFNHQ 9RQ HLQHU +DOOX]LQDWLRQ KDWWH HU VLFK HLQVFKFKWHUQ ODVVHQ (LQH SVLRQLVFKH 3URMHNWLRQ KDWWH LKP 7RGHVDQJVW HLQJHMDJW :HU PRFKWH ZLVVHQ ZLHYLHOHVROFKHU3KDQWRPHLQGLHVHP$XJHQEOLFNGXUFKGHQ*DUWHQVWUHLIWHQMHGHV LP%UXVWWRQGHUhEHU]HXJXQJKLQDXVSRVDXQHQGGDHVGHQ:LFKWJHIXQGHQKDEH )HOOPHUPDFKWHVLFKZLHGHUDQGLH$UEHLW'LH+lQGH]LWWHUWHQLKPQRFKHLQZHQLJ DEHU HU EHVD MHW]W HLQH QHXH =XYHUVLFKW .URYRUV 3URMHNWLRQ ZDU OlQJVW LP 'XQVW YHUVFKZXQGHQGHUVLPXOLHUWH.ODQJVHLQHU6FKULWWHYHUKDOOW 'LH=XYHUVLFKWGLHHUSO|W]OLFKHPSIDQGHUZLHVVLFKDOVEHUHFKWLJW1DFKZHQLJHU DOV IQI 0LQXWHQ PDFKWH HU GLH (QWGHFNXQJ DXI GLH HV DQNDP ,Q GHU %DVLV GHU 6WHLQSODWWHIDQGHUHLQHZLQ]LJH9HUWLHIXQJJHUDGHVRJURGDHUPLW]ZHL)LQJHUQ KLQHLQJUHLIHQ NRQQWH (U HUWDVWHWH HLQHQ 9RUVSUXQJ GHU YRQ UHJHOPlLJHU UHFKWHFNLJHU )RUP ]X VHLQ VFKLHQ (U GUFNWH PLW GHU )LQJHUNXSSH GDUDXI RKQH HLQ (UJHEQLV ]X HU]LHOHQ $EHU DOV HU GHQ NOHLQHQ 4XDGHU ]XU 6HLWH ]X VFKLHEHQ YHUVXFKWHGDVSUWHHUZLHHUQDFKJDE)DVW]XUJOHLFKHQ=HLWZDUHLQ.QLUVFKHQ]X K|UHQ )HOOPHU VSUDQJ DXI XQG ZLFK HLQ SDDU 6FKULWWH ]XUFN 0LW GHU )DVVXQJVORVLJNHLWGHVVHQGHUVHLQHP*OFNQLFKWWUDXWVDKHU]XZLHGLH6WHLQSODWWH VLFKGUHKWH8QGGRUWZRVLHGHQ%RGHQHQWEO|WHNDPHLQHNUHLVUXQGHgIIQXQJ]XP 9RUVFKHLQHLQ/RFKYRQJXWDQGHUWKDOE0HWHUQ'XUFKPHVVHU )HOOPHU WUDW DQ GHQ 5DQG GHU gIIQXQJ 6LH IKUWH LQ GHU $UW HLQHV 6FKDFKWHV VHQNUHFKW LQ GHQ %RGHQ KLQXQWHU ,Q GHU )HUQH JODXEWH HU PDWWHQ /LFKWVFKHLQ ]X HUNHQQHQ(UEFNWHVLFKXQGUDXIWHHLQHQ%VFKHOQDVVHQ*UDVHVDXV'DV*UDVZDUI HULQGDV/RFK(VVDQNJHPlFKOLFKLQGLH7LHIH'HU6FKDFKWEHVDHLQNQVWOLFKHV 6FKZHUHIHOG )HOOPHU /OR\G ]|JHUWH QLFKW (U ZXWH QLFKW ZDQQ GLH 6WHLQSODWWH VLFK ZLHGHU VFKOLHHQZUGHXQGREHVLKPJHOlQJHVLHHLQ]ZHLWHV0DO]X|IIQHQ(UWUDWQDFK YRUQH (U ZDU EHUHLW VLFK PLW HLQHP NXU]HQ 6SUXQJ GHU WUDJHQGHQ .UDIW GHV $QWLJUDYIHOGV DQ]XYHUWUDXHQ 'D EHUNDP HV LKQ ZLH HLQH /lKPXQJ (U ZDU QLFKW PHKULQGHU/DJHGDV%HLQ]XEHZHJHQ (U NDQQWH GDV *HIKO (U KDWWH HV VFKRQ HLQPDO HPSIXQGHQ GDPDOV DOV HU YRU *LOJLGJHVWDQGHQKDWWHXQGKLQWHULKPGLH6WLPPHGHV.RPPHQWDWRUVSO|W]OLFK]X VSUHFKHQEHJDQQ(UNDQQWHGDV=LHKHQLQ$UPHQXQG%HLQHQHUHULQQHUWHVLFKDQGLH KHLPWFNLVFKH$UWZLHLKPGLH.UDIWDXVGHP/HLEJHVRJHQZXUGH +LQWHULKPVDJWHHLQHGQQHDEHUVFKULOOH6WLPPH ³'XGDFKWHVWQLFKWHWZDGDLFKGLFKVROHLFKWHQ.DXIVHQWNRPPHQODVVHQZUGH"
)HOOPHU/OR\GJLQJLQGLH.QLH0LWOHW]WHU.UDIWGUHKWHHUVLFKXP'RUWGUEHQXQWHU GHQ EHLGHQ %lXPHQ VWDQG .URYRU GHU (ZLJH .ULHJHU 1HLQ QLFKW GHU .ROR LQ VHLQHUVWlKOHUQHQ5VWXQJVRQGHUQGLHVFKPlFKWLJH*HVWDOWHLQHV3WHUXVDQJHWDQPLW HLQHPDQVSUXFKVORVHQHLQW|QLJJUDXHQ*HZDQG,QGHU$UPEHXJHKLHOW.URYRUHLQH GLFNOlXILJH :DIIH PLW HLQHU WULFKWHUI|UPLJ DXIJHERKUWHQ 0QGXQJ ,P ,QQHUQ GHV 7ULFKWHUV OHXFKWHWH HV LQ IDKOHP *UQ )HOOPHU VSUWH ZLH LKP GLH OHW]WH .UDIW VFKZDQG(UILHOYRUQEHU ³'HU.DPSILVWYRUEHUVDJWH.URYRU³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|FKVWHU 7RGHVQRW )HOOPHU NRQQWH SO|W]OLFK ZLHGHU GHQNHQ 'LH )LQVWHUQLV OLFKWHWH VLFK (U ZDU QHXJLHULJ" :DV ZDU JHVFKHKHQ" (LQH6WLPPHZDUSO|W]OLFKLQVHLQHP%HZXWVHLQNUDIWYROOHQWVFKORVVHQXQGGRFK IUHXQGOLFK 6WHKDXIPHLQ)UHXQG.URYRUNDQQGLUQLFKWVPHKUDQKDEHQ'LH0DFKWGHU.LRMD KDWLKQJHVFKODJHQ(ULVWQXUEHZXWORV%HQW]HLKQDOVGHLQHQ3DVVLHUVFKHLQXQG VXFKHDXIGHPUDVFKHVWHQ:HJGLH2EHUIOlFKHGHU)HVWXQJDXI *LOJLGVWDXQWHGHU0XWDQW (U KDWWH VLFK DXI GHQ $UPHQ LQ GLH +|KH JHVWHPPW 9RU LKP JlKQWH GLH ILQVWHUH gIIQXQJ GHV $QWLJUDYVFKDFKWV 'UEHQ EHL GHQ EHLGHQ %lXPHQ ODJ .URYRU GHU (ZLJH .ULHJHU UHJORV 'LH :DIIH PLW GHU WULFKWHUI|UPLJHQ 0QGXQJ ZDU VHLQHU +DQGHQWJOLWWHQXQG]ZLVFKHQGLH%lXPHJHIDOOHQ -DLFKELQ*LOJLGDQWZRUWHWHGLH0HQWDOVWLPPH%HHLOHGLFK.URYRUV2UJDQLVDWLRQ IXQNWLRQLHUWDXFKRKQH%HLVHLQGHV.ULHJHUV:HQQGXLKU=HLWOlWVLFKYRPHUVWHQ 6FKRFN]XHUKROHQELVWGXYHUORUHQ )HOOPHU VWDQG DXI (U VSUWH QHXH .UDIW 1RFK YHUVWDQG HU QLFKW ZDV JHVFKHKHQ ZDU$EHUHUZXWHGD*LOJLGLKQYRUGHPVLFKHUHQ7RGEHZDKUWKDWWH *LOJLGVWDPPHOWHHU,FKODVVHGLFKQLFKWKLHU,FKQHKPHGLFKPLW 0DFKGLUXPPLFKNHLQH6RUJHQNDPGLH$QWZRUW'LH0DFKWGHU.LRMDKDWDXFKLQ PHLQHP,QWHUHVVHJHZLUNWXQGPLFKEHIUHLW=|JHUHQLFKW0DFKGLFKDXIGHQ:HJ :RKLQVROOLFKJHKHQ"IUDJWHHUYHUZLUUW 1LPP GHQ :HJ GXUFK GHQ ]HQWUDOHQ $QWLJUDYVFKDFKW VDJWH *LOJLG )DKU ]XU
2EHUIOlFKHKLQDXI9RQGRUWZRGXDXVVWHLJVWZLUGGLUGHU:HJJHZLHVHQZHUGHQ 9RQZHP )UDJQLFKW'XKDVWNHLQH=HLW]XYHUOLHUHQ 'LH WHOHSDWKLVFKH 9HUELQGXQJ ZXUGH XQWHUEURFKHQ 1RFK KDOE EHQRPPHQ VFKULWW )HOOPHU /OR\G ]X GHQ ]ZHL %lXPHQ KLQEHU .URYRU KDWWH GLH $XJHQ JHVFKORVVHQ 'DV VFKPDOH *HVLFKW XQWHU GHU IODFKHQ IOLHKHQGHQ 6WLUQ GDV PLW VHLQHU ZHLW QDFK YRUQHDXVODGHQGHQ0XQGSDUWLHDXIGLHOD]HUWRLGH$EVWDPPXQJGHU3WHUXVKLQZLHV ZLUNWHHQWVSDQQW(VZDU.URYRUJHZHVHQGHUGHQHQWVHW]OLFKHQ6FKUHLDXVJHVWRHQ KDWWH $EHU ZDV LPPHU LQ GHU 6HNXQGH GHV 8OWLPDWHQ 6FKPHU]HV GHQ (ZLJHQ .ULHJHU EHZHJW KDEHQ PRFKWH LQ GHU 2KQPDFKWVFKLHQHVYHUJHVVHQ6RZLHHUGD ODJZLUNWHHUDXVJHVSURFKHQIULHGOLFK )HOOPHU VFKRE LKP GLH $UPH XQWHU GHQ /HLE XQG KRE LKQ LQ GLH +|KH 'HU VFKPlFKWLJH.|USHUGHV3WHUXVZDUOHLFKW(UZUGHLKQRKQH0KHPLWVLFKQHKPHQ N|QQHQEHVRQGHUVZHQQ ³.|QQWHVWGXQLFKWHLQZHQLJ+LOIHJHEUDXFKHQ"VDJWHHVEHULKP (UVDKDXI,QYLHU0HWHUQ+|KHVFKZHEWHGLH1HW]NRPELQDWLRQ]XVDPPHQJHNQOOW ZLHHLQ%QGHO/XPSHQ)HOOPHUDWPHWHDXI ³.RPP KHUXQWHU GX 1LFKWVQXW] ULHI HU ³:LU KDEHQ HLQHQ HLOLJHQ *DQJ ]X HUOHGLJHQ )HOOPHU /OR\G KLHOW VLFK DQ *LOJLGV :DUQXQJ (U YHUORU NHLQH =HLW ,Q GHP $QWLJUDYVFKDFKW GHU XQWHU GHU 6WHLQSODWWH ]XP 9RUVFKHLQ JHNRPPHQ ZDU HQWZLFNHOWH HU PLW +LOIH GHV *UDYR3DNV ]XVlW]OLFKH *HVFKZLQGLJNHLW (U SDVVLHUWH HLQH6FKZHUNUDIWVFKOHXVHLQGHUGHUGRPLQDQWH6FKZHUNUDIWYHNWRUXPJHSROWZXUGH VRGDHUYRQGDDQGDV*HIKOKDWWHLQGLH+|KH]XVWHLJHQ.URYRUVVFKODIIHQ.|USHU KDWWH HU VLFK EHU GLH 6FKXOWHU JHOHJW 2EZRKO GDV *HZLFKW GHV 3WHUXV NHLQH %HODVWXQJPHKUIULKQGDUVWHOOWHVHLWGHPHUGLH1HW]NRPELQDWLRQZLHGHUWUXJXQG GDV*UDYR3DNLKP]XU9HUIJXQJVWDQGZDUGDV9RUZlUWVNRPPHQGHQQRFKDOOHV DQGHUHDOVEHTXHP,PPHUZLHGHUUXWVFKWH LKP GLH /DVW YRQ GHU 6FKXOWHU(UKDWWH GHQ *HEUDXFK QXU HLQHV $UPHV ZHLO HU PLW GHP DQGHUQ .URYRU IHVWKDOWHQ PXWH 1DFKHLQHUJHZLVVHQ=HLWEHJDQQGLH6FKXOWHU]XVFKPHU]HQZHLOHUVLHVR]XKDOWHQ YHUVXFKWHGDGHU.|USHUGHV%HZXWORVHQP|JOLFKVWQLFKWDEUXWVFKWH'DQQPXWH HULQQHKDOWHQXQG.URYRUDXIGLHDQGHUH6FKXOWHUYHUODGHQ (VZDUHLQH3ODJH8QGZHQQHUGHQ(ZLJHQ.ULHJHUQLFKWJHEUDXFKWKlWWHXPVLFK IDOOV HU LUJHQGZR DXIJHKDOWHQ ZUGH IUHLHQ $E]XJ ]X YHUVFKDIIHQ KlWWH HU LKQ LUJHQGZRLQHLQHU(FNHDEJHODGHQ 'HU $QWLJUDYVFKDFKW PQGHWH LQ GHU $XHQPDXHU GHV *HElXGHNRPSOH[HV GHQ .URYRU VHLQHQ 3DODVW QDQQWH 'HU 7DJ ZDU OlQJVW DQJHEURFKHQ GHU OHW]WH 7DJ GHV 9RONVIHVWVEULJHQVDQGHPDXFKGLH]Z|OIWH(EHQHGHQ)HVWEHVXFKHUQRIIHQVWDQG 6FKDUHQ YRQ 6FKDXOXVWLJHQ GUlQJWHQ VLFK DXI GHU 5LQJVWUDH XQG DXI GHQ
5DGLDOVWUDHQGLHYRP3DODVWDXVZLHGLH6WUDKOHQHLQHV6WHUQVIRUWVWUHEWHQ(VZDU LQGHV ZLH )HOOPHU EDOG IHVWVWHOOWH DOV HU GLH *HGDQNHQVWU|PH GHU 7RXULVWHQ DXI VLFKHLQZLUNHQOLHQLFKWGLHEOLFKHQHXJLHULJHVRQGHUQHLQHK|FKVWYHUZLUUWHXQG XQUXKLJH 0HQJH 6HLW JHUDXPHU =HLW KDWWH PDQ QLFKWV PHKU YRP (ZLJHQ .ULHJHU JHK|UW 'LH +RORUDPD6HQGXQJ GLH VHLQHQ =ZHLNDPSI JHJHQ GHQ *RULP (LQGULQJOLQJ VFKLOGHUWH ZDU LP HQWVFKHLGHQGHQ $XJHQEOLFN DEJHEURFKHQ ZRUGHQ 0DQ ZXWH QLFKW ZDV PDQ GDYRQ KDOWHQ VROOWH (V ZDU QLFKW .URYRUV $UW VHLQHQ 7ULXPSK YRU GHU )HVW|IIHQWOLFKNHLW JHKHLP]XKDOWHQ .RQQWH HV VHLQ GD HU LP OHW]WHQ$XJHQEOLFNGHP)UHPGHQXQWHUOHJHQZDU" )HOOPHU/OR\GGLH/DVWGHVVFKODIIHQ.|USHUVDXIGHU6FKXOWHUVFKZHEWHKRFKEHU GHQ .|SIHQ GHU QHUY|VHQ 0HQJH GDKLQ ZlKUHQG HU VHLQH WHOHSDWKLVFKHQ %HREDFKWXQJHQDQVWHOOWH'HU6\QWURQNDQQWHVLFKKLHUDXV(UGLULJLHUWHLKQDXIGHP JHUDGHVWHQ:HJ]XGHP$QWLJUDYVFKDFKWGHQQ)HOOPHUYRUZHUZHLZLHYLHOHQ6WXQGHQ ]XVDPPHQPLW6HPELODQYHUODVVHQKDWWH -HGHVPDO ZHQQ HU VLFK DQ GHQ YHUPHLQWOLFKHQ *DZURQ HULQQHUWH YHUVHW]WH HV LKP HLQHQ6WLFK6HLQ6HOEVWEHZXWVHLQKDWWHHUQVWKDIWHQ6FKDGHQJHQRPPHQ:LHKDWWHHV JHVFKHKHQ N|QQHQ GD .URYRUV +DQGODQJHU LKQ DXI VR XQYHUVFKlPWH :HLVH KHUHLQOHJWH" ,Q VHLQHP *HGlFKWQLV NODQJHQ QRFK GLH OHW]WHQ *HGDQNHQ GLH HU DXV GHP 0HQWDOJHQHUDWRU GHV 5RERWHUV HPSIDQJHQ KDWWH :DV PDFKH LFK PLW GHP 7HUUDQHU" KDWWH 6HPELODQ VLFK JHIUDJW :RKHU ZXWH HU GD VHLQ %HJOHLWHU HLQ 7HUUDQHU ZDU" $OV HLQHU YRQ GHQ $XHQZHOWHQ KDWWH )HOOPHU VLFK GHP *DZURQ YRUJHVWHOOW'DV:LVVHQGDHULQ:LUNOLFKNHLWYRQ7HUUDNDPNRQQWH6HPELODQQXUYRQ .URYRU KDEHQ GHU VFKRQ GHV |IWHUHQ .RQWDNW PLW WHUUDQLVFKHQ 9LURQDXWHQ JHKDEW KDWWH $EHUVHOEVWGLHVHQGHXWOLFKHQ+LQZHLVKDWWH)HOOPHUEHUVHKHQ:DUXP":HLOHUQXU QRFKDQ*LOJLGKDWWHGHQNHQN|QQHQ'DV%HZXWVHLQLQLKUHUXQPLWWHOEDUHQ1lKH]X VHLQKDWWHLKPGHQ9HUVWDQGJHWUEW *LOJLG:DVZDUDXVLKUJHZRUGHQ"'DVOHW]WHPDODOV)HOOPHULKUH*HGDQNHQHPSILQJ KDWWH VLH VHOEVWEHZXWHU HQHUJLVFKHU JHNOXQJHQ DOV MH ]XYRU 6LH ZDU VFKRQ EHIUHLW 'LH 0DFKW GHU .LRMD KDWWH LKU ]XU )UHLKHLW YHUKROIHQ :DV ZDU GDV GLH 0DFKW GHU .LRMD"(LQHGXPSIH$KQXQJVWLHJLQ)HOOPHUDXIGDHEHQGLHVH0DFKWHWZDVPLWGHU 1LHGHUJHVFKODJHQKHLW ]X WXQ KDEHQ N|QQH GLH *LOJLG ZlKUHQG LKUHV YRUOHW]WHQ *HVSUlFKVDQGHQ7DJJHOHJWKDWWH(UKDWWH.URYRUQLFKWDXVHLJHQHU.UDIWEHVLHJHQ N|QQHQ(UZDUDXI*LOJLGV+LOIHDQJHZLHVHQRGHUDXIGLH0DFKWGHU.LRMD %HGHXWHWHGDVGDGDV3DUDOOHOXQLYHUVXPYRQGHP*LOJLGJHWUlXPWKDWWHGRFKQLFKW GDVLKUHZDU" 8QDQJHIRFKWHQ HUUHLFKWH HU GHQ (LQJDQJ GHV $QWLJUDYVFKDFKWV 'RUW EHJHJQHWH HU )HVWEHVXFKHUQ GLH DXV GHP DEZlUWV JHSROWHQ 6HNWRU GHV 6FKDFKWHV VWU|PWHQ 6LH EHGDFKWHQLKQZRKOPLWPHUNZUGLJHQ%OLFNHQZHLOHUGLH*HVWDOWHLQHV%HZXWORVHQ EHUGHU6FKXOWHUWUXJ$EHUVLHZDUHQ]XVHKUPLWLKUHUHLJHQHQ8QUXKHEHVFKlIWLJW
DOV GD VLH LKP ]XYLHO $XIPHUNVDPNHLW KlWWHQ VFKHQNHQ P|JHQ 'HU 3WHUXV GHQ HU EHUGHU6FKXOWHUWUXJEHVDJWHLKQHQJDUQLFKWV6LHZDUHQHVJHZ|KQWGHQ(ZLJHQ .ULHJHULQHLQHU]HKQ0HWHUKRKHQVWlKOHUQH5VWXQJ]XVHKHQ :lKUHQG GHV $XIVWLHJV GXUFK GHQ 6FKDFKW OLH )HOOPHU GLH *HGDQNHQ GHU )HVWEHVXFKHU XQG GHU )HVWXQJVEHZRKQHU DXI VLH HLQZLUNHQ EHUDOO KHUUVFKWH 9HUZLUUXQJ0DQNRQQWHVLFKQLFKWHUNOlUHQZDVDXV.URYRUJHZRUGHQZDU(VJDE NHLQH 1DFKULFKWHQ PHKU (V PRFKWH VHLQ ZLH *LOJLG JHVDJW KDWWH GD GLH 2UJDQLVDWLRQ GHV (ZLJHQ .ULHJHUV DXFK RKQH .URYRUV $QZHVHQKHLW IXQNWLRQLHUWH $EHULP$XJHQEOLFNKDWWHVLHHLQHQ6FKRFNHUOLWWHQ)HOOPHUZDUGDQNEDUGDIU (U HUUHLFKWH GHQ REHUHQ $XVJDQJ 6HLQ %OLFN JLQJ KLQDXV EHU GDV YRQ *HEVFKIHOGHUQ XQG +DLQHQ EHVHW]WH *UDVODQG GDV GLH 2EHUIOlFKH GHU )HVWXQJ 9DWRPDQGU\ ELOGHWH 9RU LKP ODJ GLH JOlVHUQH .XSSHO LQ GHU GDV 6KXWWOH GDPDOV DQJHOHJWKDWWH:HPHUVLFK]XU6HLWHZDQGWHVDKHUGDVIODFKHZHLH*HElXGHGHV +DQJDUVLQGHP.URYRUV5DXPVFKLIIXQWHUJHEUDFKWZDU (U WUDW DXV GHP 6FKDFKW KHUYRU .URYRU KDWWH VLFK LPPHU QRFK QLFKW JHUKUW 6HLQH 2KQPDFKWZDUQDFKKDOWLJ ³'XVLHKVWDXVZLHHLQHUGHUHLQHQRUWVNXQGLJHQ)KUHUEUDXFKWVDJWHHVGDLQGHU 1lKH )HOOPHU IXKU KHUXP (WZD ]HKQ 0HWHU YRP 6FKDFKW HQWIHUQW VWDQG HLQ NOHLQHV *OHLWIDKU]HXJJHSDUNW'LH/XNHQVWDQGHQRIIHQ8QWHUHLQHUGHUgIIQXQJHQUlNHOWH VLFK HLQ DQGHUWKDOE 0HWHU KRKHV :HVHQ YRQ KDOENXJHOLJHU .|USHUIRUP ,Q GHQ HEHQIDOOV KDOENXJHOLJHQ 6FKlGHO VDHQ GUHL LQWHOOLJHQW EOLFNHQGH $XJHQ GLH GHQ 0XWDQWHQ VS|WWLVFK PXVWHUWHQ 'DV :HVHQ WUXJ HLQHQ EXQWHQ 5RFN GHU EHU GHQ 6FKXOWHUQPLW]ZHLEUHLWHU7UlJHUQEHIHVWLJWZDU ³(LQHQ )KUHU EUDXFKH LFK LQ GHU 7DW VDJWH )HOOPHU ³(V WXW JXW GLFK ZLHGHU]XVHKHQ2ULVKD 'HU*OHLWHUVWLHJDXI'HQEHZXWORVHQ.ULHJHUKDWWH)HOOPHU/OR\GDXIHLQHUGHU 6LW]ElQNH DEJHOHJW 'HU 0XWDQW VDK PLW (UVWDXQHQ GD 2ULVKD GHQ .XUV GHV )DKU]HXJVDXIGHQZHLHQ5DXPVFKLIIKDQJDUULFKWHWH :LH VFKRQ VR RIW ]XYRU VFKLHQ GHU 'XDUD DXFK LQ GLHVHP $XJHQEOLFN VHLQH *HGDQNHQ]XHUUDWHQ ³)UDJQLFKWYLHOVDJWHHU³:DVGXZLVVHQPXWZLOOLFKGLULQGHUNXU]HQ=HLWGLH XQVEOHLEWJHUQHHU]lKOHQ $OV ZLU XQV DXI %DNXPSDL YHUDEVFKLHGHWHQ YHUVSUDFK LFK GLU GD ZLU XQV DXI 9DWRPDQGU\ZLHGHUVHKHQZUGHQ,FKUHLVWHPLWHLQHP7RXULVWHQVFKLIIDQ,FKZROOWH QDFKGLUVXFKHQDEHUGDVEUDXFKWHLFKQLFKWPHKU]XWXQ'LH1DFKULFKWHQZDUHQYROO YRQGLU.URYRUKDWWHGLH6DFKHJHVFKLFNWHLQJHIlGHOW'LH)HVWEHVXFKHUEHNDPHQDOOHV ]XVHKHQ:LH.ZDQDQGXUGLFKEHUUHGHWHGLH]Z|OIWH(EHQH]XEHVXFKHQZLHHXFK
LQ 'LODNV +DXV GHU :HJ JHZLHVHQ ZXUGH ZLH LKU DXV GHP 6FKDFKW VWLHJW XQG .URYRUV 3DODVW YRU HXFK VDKW ,Q GHU KRORJUDSKLVFKHQ 'DUVWHOOXQJ ZXUGHQ VRJDU 'HQNEODVHQJH]HLJWGLHDXV.ZDQDQGXUV.RSIVWLHJHQXQGGHQ=XVFKDXHUZLVVHQ OLHHQZDVGHU5RERWHUGDFKWH 'HQ 5HVW NHQQVW GX ZDV GLH 6LFKW DXV GHLQHU :DUWH EHWULIIW ,Q]ZLVFKHQ KDWWH LFK 9HUELQGXQJPLW*LOJLGDXIJHQRPPHQ ³9HUELQGXQJ PLW *LOJLG" XQWHUEUDFK LKQ )HOOPHU EHUUDVFKW ³:LH KDVW GX GDV IHUWLJJHEUDFKW" 2ULVKDV$XJHQOHXFKWHWHQ ³(ULQQHUVWGXGLFKDQGHQ:UIHOGXUFKGHQLFK]XGHP&RPSXWHUDQ%RUGGHLQHV 6FKLIIHVVSUDFK"(UNDQQQRFKYLHOPHKUDOVHLQHP6\QWURQELOGOLFKH*HGDQNHQLQ )RUP YRQ 'DWHQ ]X EHUPLWWHOQ $OVR LFK HUUHLFKWH *LOJLG XQG HUIXKU YRQ LKUHP 3ODQ,FKZXWH ³:HOFKHVZDULKU3ODQ"XQWHUEUDFK)HOOPHU/OR\GYRQQHXHP ³0HLQ )UHXQG )HOOPHU GX GDUIVW PLU QLFKW DQGDXHUQG LQV :RUW IDOOHQ WDGHOWH 2ULVKD ³6RQVW NRPPHQ ZLU ]X QLFKWV ,FK HU]lKOH ZDV PHLQH 6DFKH LVW XQG YRQ *LOJLGZLUVWGXHUIDKUHQZDVVLHGLU]XVDJHQKDW ,FK ZXWH DOVR GD DXI 9DWRPDQGU\ GDV &KDRV DXVEUHFKHQ ZUGH VREDOG GLH hEHUWUDJXQJ GHV =ZHLNDPSIV ]ZLVFKHQ GLU XQG GHP (ZLJHQ .ULHJHU DEJHEURFKHQ ZXUGH ,FK ZDU PLU DXFK GDUEHU LP NODUHQ GD ZLU HLQ IDKUEHUHLWHV SVLUDXPWFKWLJHV )DKU]HXJ EUDXFKHQ ZUGHQ XP 9DWRPDQGU\ ]X YHUODVVHQ 'HQQ HZLJ ZUGH GLH 9HUZLUUXQJ KLHU QLFKW GDXHUQ XQG MH UDVFKHU ZLU XQV DXI GHQ :HJ PDFKWHQ GHVWR EHVVHU ZDUHQ ZLU GUDQ (V JLEW DEHU DXI GHU 2EHUIOlFKH GHU )HVWXQJ QXU HLQ HLQ]LJHV )DKU]HXJ GDV PHLQHQ $QVSUFKHQ JHQJW 'DV LVW .URYRUV 5DXPVFKLII ³'X KDVW VWLH )HOOPHU KHUYRUKLHOWMHGRFKVRIRUWLQQHDOVHLQWDGHOQGHU%OLFN DXV2ULVKDV$XJHQLKQWUDI ³1LFKW GDV JDQ]H 6FKLII IXKU GHU 'XDUD IRUW ³(V LVW VWHUQI|UPLJ ZLH HLQ MHGHU ZHL XQG HLQ MHGHU GHU ]Z|OI 6WHUQ]DFNHQ LVW DEO|VEDU XQG VWHOOW LQ VLFK VHOEVW HLQ YROOZHUWLJHV5DXPIDKU]HXJGDU(LQHQVROFKHQ=DFNHQJHODQJHVPLU]XUHTXLULHUHQ $OOHUGLQJV KDWWH LFK GDEHL +LOIH (LQ KRKHV 0LWJOLHG GHU .URYRU$GPLQLVWUDWLRQ GXUFK GHQ $EEUXFK GHV .RQWDNWV PLW GHP (ZLJHQ .ULHJHU ZRP|JOLFK QRFK PHKU NRQVWHUQLHUWDOVGLHEULJH%HY|ONHUXQJOHLVWHWHPLUZHUWYROOH'LHQVWH$XFKGDEHL NDP PLU GHU NOHLQH :UIHO ]XJXWH GHU .RQYHUWHU ZHLW GX" 1DFKGHP HU YRQ .URYRU NHLQH $QZHLVXQJHQ PHKU HUKLHOW UHDJLHUWH PHLQ +HOIHU UHFKW EHUHLWZLOOLJ DXIGLHhEHUVHW]XQJPHLQHU*HGDQNHQLPSXOVH )HOOPHU /OR\G KDWWH GHQ GHXWOLFKHQ (LQGUXFN GD VLFK KLQWHU 2ULVKDV (LQVDW] ZHLW PHKU YHUEDUJ DOV DXV VHLQHQ GUUHQ :RUWHQ KHUYRUJLQJ $EHU MHW]W ZDU QLFKW GLH =HLW QDFK (LQ]HOKHLWHQ ]X IUDJHQ'HU*OHLWHUQlKHUWHVLFKGHP+DQJDUJHElXGH(U XPUXQGHWHHV]XU+lOIWH$XIGHUDEJHZDQGWHQ6HLWHGHVIODFKHQ%DXZHUNVVWDQGHLQ
PlFKWLJHV 6FKRWW RIIHQ 2ULVKD VWHXHUWH GDV )DKU]HXJ KLQGXUFK 'DV ,QQHUH GHV +DQJDUVZDUKHOOHUOHXFKWHW .RUYRUV 6FKLII ZDU ULHVLJ 'HU +DQJDU ZLUNWH QXU GHVZHJHQ YRQ DXHQ VR IODFK ZHLO GHU 'XUFKPHVVHU GHV 6WHUQHQVFKLIIV VHLQH +|KH XP PHKU DOV GDV $FKWIDFKH EHUWUDI $XI DFKW]HKQKXQGHUW 0HWHU VFKlW]WH )HOOPHU GLH OLFKWH :HLWH GHU +DQJDUKDOOH XQG GRUW ZR GLH UDGLDO YRP6FKLIIVN|USHUZHJIKUHQGHQ$XVZFKVH GHQ :lQGHQ DP QlFKVWHQ NDPHQ OLHHQ VLHQLFKWPHKUDOVHLQSDDU0HWHU5DXP 'LH +|KH GHV 6FKLIIHV LP =HQWUXP JHPHVVHQ EHWUXJ GDJHJHQ QLFKW PHKU DOV ]ZHLKXQGHUW0HWHU (LQHU GHU =DFNHQ ZLH 2ULVKD VLFK DXVJHGUFNW KDWWH ZDU YRQ GHP 6FKLIIVN|USHU JHWUHQQW ZRUGHQ XQG VWDQG LQ 5LFKWXQJ GHV RIIHQHQ 6FKRWWV YHUVHW]W 'HU DEJHWUHQQWH 6FKLIIVWHLO KDWWH GLH )RUP HLQHV .RQXV PLW JHUXQGHWHU 6SLW]H (U ZDU DFKW]LJ 0HWHU ODQJ XQG KDWWH DQ GHU GLFNVWHQ 6WHOOH G K DP +HFN HLQHQ 'XUFKPHVVHUYRQ]ZDQ]LJ0HWHUQ(UVFKZHEWHLQGHU/XIWYRQHLQHPNQVWOLFKHQ 6FKZHUHIHOG JHWUDJHQ $Q GHU 6WHXHUERUGZDQG VWDQG HLQ JURHV /XN RIIHQ /HXFKWHQG]HLFKQHWHQVLFKGLH8PULVVHHLQHU(QHUJLHEUFNHDEGLHYRP%RGHQGHU +DQJDUKDOOH]XGHU/XN|IIQXQJKLQDXIIKUWH ³:LUVLQGVWDUWEHUHLWHUNOlUWH2ULVKD³$EHU]XYRUZLOOLFKGLUQRFKHWZDV]HLJHQ (U ODQGHWH GHQ *OHLWHU XQZHLW GHU %UFNH 'LH $XVVWLHJH |IIQHWHQVLFKVHOEVWWlWLJ 2ULVKDNOHWWHUWHXPVWlQGOLFKKLQDXV ³,FK JHKH NHLQHQ 6FKULWW ZHLWHU VDJWH )HOOPHU ³VRODQJH LFK QLFKW ZHL ZR *LOJLG LVW ³*LOJLG LVW DQ %RUG GX 'XPPNRSI DQWZRUWHWH GHU 'XDUD MHW]W RKQH =ZHLIHO lUJHUOLFK³6LHEUDXFKWHQLFKWHLQPDODQ%RUG]XVHLQ6LHKlWWHVLFKRKQHXQVHUH+LOIH DXIGHQ:HJPDFKHQN|QQHQ$EHUVLHZLOOYRQGLU$EVFKLHGQHKPHQ'HVZHJHQLVWVLH KLHU 'LH :RUWH WUDIHQ )HOOPHU PLW GHP SV\FKLVFKHQ (IIHNW HLQHU 2KUIHLJH $EVFKLHG QHKPHQ":DVKDWWHGDV]XEHGHXWHQ":DVPHLQWH2ULVKDZHQQHUVDJWH*LOJLGKlWWH VLFKRKQHLKUH+LOIHDXIGHQ:HJPDFKHQN|QQHQ" 'LH )UDJHQ EOLHEHQ YRUOlXILJ XQEHDQWZRUWHW 'HU 'XDUD KDWWH VLFK LQ %HZHJXQJ JHVHW]W (U VFKULWW DQ GHU (QHUJLHEUFNH YRUEHLXQWHUGHQVFKZHEHQGHQ5XPSIGHV )DKU]HXJV)HOOPHUIROJWHLKP 'RUWZRGHU5XPSIGHV5DXPVFKLIIVVLFKDPWLHIVWHQELV]XP%RGHQKHUDEQHLJWHODJ HLQXQI|UPLJHV%QGHO2ULVKDWUDWKLQ]XXQGEHUKUWHHVPLW]ZHLHQVHLQHU)H'DV %QGHOHQWIDOWHWHVLFK(VZXUGH]XU*HVWDOWHLQHVKXPDQRLGHQ:HVHQV ³(U ZDU HLQ QW]OLFKHU +HOIHU VDJWH 2ULVKD QDFKGHQNOLFK ³(U EHIROJWH MHGHQ %HIHKOGHQLFKJDE$EHU]XP6FKOXVFKLHQHUVLFKDQHLQSDDU'LQJH]XHULQQHUQGLH PDQLKPHLQSURJUDPPLHUWKDWWH(UZXUGHDXIVlVVLJ'DPXWHLFKLKQEHVHLWLJHQ (UJDEHLQVHXI]HQGHV*HUlXVFKYRQVLFK ³(V ILHO PLU ]LHPOLFK VFKZHU PX LFK EHNHQQHQ(VZDU]ZDUNHLQ HFKWHV /HEHQ LQ
LKP6HOEVWGLH*HGDQNHQGLHHUGDFKWHVWDPPWHQDXVHLQHU0DVFKLQH$EHUHUZDU PLU KLOIUHLFK JHZHVHQ 6FKOLHOLFK KDOI LFK PLU PLW GHU hEHUOHJXQJ GD HU DOOHLQ GHVZHJHQZLHHUPLWGLUYHUIDKUHQLVWYHUGLHQWKDWWHDXVJHVFKDOWHW]XZHUGHQ,FK KRIIHPHLQ(QWVFKOXILQGHWGHLQH%LOOLJXQJ )HOOPHU/OR\GJULQVWH ³9ROO XQG JDQ] VDJWH HU XQG PXVWHUWH 6HPELODQV *HVLFKW GDV QDFKGHP GHU 0HFKDQLVPXV IU GLH $XIUHFKWHUKDOWXQJ GHU V\QWKHWLVFKHQ =LUNXODWLRQ DEJHVFKDOWHW ZRUGHQZDUPHUNZUGLJJUDXXQGYHUIDOOHQZLUNWH³.URYRUZLUGVLFKHLQHQQHXHQ .ZDQDQGXUEDXHQ ³:HLOZLUVFKRQEHUGHQ.ULHJHUVSUHFKHQPHLQWH2ULVKD³:DVKDVWGXPLWLKP YRU" )HOOPHU/OR\GPDFKWHHLQHZHJZHUIHQGH*HVWH ³/D LKQ ZR HU LVW DQWZRUWHWH HU ³:LU EUDXFKHQ XQV QLFKW ZHLWHU XP LKQ ]X NPPHUQ ³:HLW GX ZDV GX GD VDJVW" IUDJWH GHU 'XDUD HUUHJW ³'X N|QQWHVW LKQ PLW GLU QHKPHQ 'X N|QQWHVW LKQ YRU]HLJHQ XQG VDJHQ 6HKW LFK KDEH HLQHQ (ZLJHQ .ULHJHUEHVLHJWXQGJHIDQJHQJHQRPPHQ'HLQ5XKPVWUDKOWHKHOOHUDOVGLH6RQQH 3DQJNDK'XZlUHVWGHU+HOGGHU=Z|OI*DOD[LHQ ³)U NXU]H =HLW MD VDJWH )HOOPHU YHUVRQQHQ ³,FK ZlUH DXHUGHP HLQ HUEDUPXQJVORV*HMDJWHUXQGELQQHQZHQLJHU:RFKHQKlWWHQGLH3WHUXVHLQHQQHXHQ (ZLJHQ .ULHJHU DOV +HUUVFKHU EHU 'KDWDEDDU HLQJHVHW]W 6ROFKHU 5XKP LVW NXU]OHELJ 'LH 0DFKW GHU (ZLJHQ .ULHJHU OlW VLFK QLFKW PLW HLQHP HLQ]LJHQ +XVDUHQVWFNFKHQEUHFKHQ 2ULVKD DQWZRUWHWH QLFKW VRIRUW 6HLQH $XJHQ VWDUUWHQ LQ GLH :HLWH RKQH HWZDV ]X VHKHQ ³0DQFKPDOVDJWHHUVFKOLHOLFK³EHHLQGUXFNWPLFKGHLQH:HLVKHLW *LOJLGVSULFK]XPLU )HOOPHU/OR\GKDWWHVLFKLQHLQHQNOHLQHQOHHUHQ5DXP]XUFNJH]RJHQGHUDEVHLWV GHU .RPPDQGR]HQWUDOH GHV %RRWHV ODJ 2ULVKD EHUQDKP GLH 6WHXHUXQJ GHV )DKU]HXJV(UEHULFKWHWHGDDXI9DWRPDQGU\QRFKLPPHU9HUZLUUXQJKHUUVFKHXQG HLQHXQPLWWHOEDUH9HUIROJXQJQLFKW]XEHIUFKWHQVHL ,FKK|UHGLFKPHLQ)UHXQGDQWZRUWHWH*LOJLG 7UDXHU VFKZDQJ LQ LKUHU 6WLPPH )HOOPHU YHUVXFKWH LKU %LOG KHUDXI]XEHVFKZ|UHQ DEHUHVJHODQJLKPQLFKW :DUXPNDQQLFKGLFKQLFKWVHKHQ"IUDJWHHU (VKDWNHLQHQ6LQQGLUHLQH*HVWDOWYRU]XJDXNHOQGLHHVQLFKWPHKUJLEW 'HU6FKPHU]EUDQQWHVLFKLQ)HOOPHUV6HHOHXQG]HUULLKPGDV+HU] *LOJLG HV GDUI QLFKW VHLQ VWDPPHOWHQ VHLQH *HGDQNHQ 'X KDVW PHLQHP /HEHQ HLQHQ6LQQXQGHLQ=LHOJHJHEHQZHQQGXPLFKMHW]WYHUOlWGDQQ 6WLOOPHLQ)UHXQG,KUH6WLPPHZDUNUlIWLJHUDOVHUVLHMH]XYRUJHK|UWKDWWH,FK
NHQQHGHLQHQ6FKPHU]GHQQHULVWDXFKGHUPHLQH'DV6FKLFNVDOKDWJHJHQXQVHUHQ :XQVFKHQWVFKLHGHQ$EHUEHYRUGXGLFKGHU9HU]ZHLIOXQJKLQJLEVWK|UHZDVLFK GLU]XVDJHQKDEH'XELVWHLQ+HOG0DQZLUGGHLQHQ1DPHQELVLQGLHIHUQH=XNXQIW PLW$FKWXQJQHQQHQ'HQQGXKDVWGDV9RONGHU.LRMDEHIUHLW 6LH VFKZLHJ HLQH NXU]H =HLW ,KUH :RUWH VDQNHQ LQ )HOOPHUV %HZXWVHLQ XQG HU]HXJWHQ 9HUZXQGHUXQJ )U 6HNXQGHQ ZHQLJVWHQV YHUORU GHU 6FKPHU] DQ +HIWLJNHLW*LOJLGIXKUIRUW 9RU +XQGHUWHQ YRQ *HQHUDWLRQHQ VFKRQ HUUHLFKWH GDV 9RON GHU .LRMD HLQHQ (QWZLFNOXQJV]XVWDQG GHU GHP K|FKVWHQ 1LYHDX HQWVSUDFK GDV N|USHUOLFKH :HVHQ HUUHLFKHQ N|QQHQ 9RQ GD DQ JDE HV IU GLH .LRMD QXU QRFK GLH :DKO ]ZLVFKHQ 6WDJQDWLRQXQGGHP8OWLPDWHQ6FKULWWGHU9HUJHLVWLJXQJGHU]XU(QWVWHKXQJHLQHU N|USHUORVHQ*HPHLQVFKDIWVLQWHOOLJHQ]IKUW 0LW DOOHU .UDIW KDEHQ GLH .LRMD GXUFK -DKUKXQGHUWH KLQZHJ GLH 9HUJHLVWLJXQJ DQJHVWUHEW1LFKWQXUZDUGLHVGLHHLQ]LJGHQNEDUH$UWGHU:HLWHUHQWZLFNOXQJ6LH EHGHXWHWH JOHLFK]HLWLJ DXFK GD GHU (ZLJH .ULHJHU .URYRU NHLQH 0DFKW PHKU EHU GLH .LRMD KlWWH .URYRU ZROOWH QlPOLFK GDV 9RON PLW VHLQHU KRFKHQWZLFNHOWHQ 7HFKQRORJLHLQVHLQH'LHQVWH]ZLQJHQ 'DV6FKLFNVDOYHUIXKUXQJQlGLJPLWGHQ.LRMD'LHJDQ]H=HLWEHUZXWHQVLHGD GHU 3UR]H GHU 9HUJHLVWLJXQJ ZHQQ HU HUVW HLQPDO HLQJHOHLWHW ZDU PLW GHU *HVFKZLQGLJNHLWHLQHUQXNOHDUHQ.HWWHQUHDNWLRQDEODXIHQZUGH,QHLQHUPlFKWLJHQ ([SORVLRQZUGHGLH.|USHUVXEVWDQ]GHU.LRMDVLFKLQ0HQWDOHQHUJLHYHUZDQGHOQ GLH ]XU 6WDELOLVLHUXQJ GHU *HPHLQVFKDIWVLQWHOOLJHQ] HUIRUGHUOLFK ZDU 'HU 3UR]H PXWH MHGRFK GXUFK HLQHQ ,QLWLDOLPSXOV DXVUHLFKHQGHU (QHUJLH HLQJHOHLWHW ZHUGHQ XQGHVJHODQJGHQ.LRMDQLFKWGLHVHQ,QLWLDOLPSXOV]XJHQHULHUHQ .URYRU ZXWH GD GLH =HLW JHJHQ LKQ VSLHOWH 0LW MHGHU YHUVWUHLFKHQGHQ 6WXQGH ZXFKVGLH:DKUVFKHLQOLFKNHLWGDHVGHQ.LRMDJHOLQJHQZUGHVLFKVHLQHP=XJULII ]X HQW]LHKHQ (U PXWH KDQGHOQ (U KDQGHOWH GHU 0HQWDOLWlW GHV .ULHJHUV HQWVSUHFKHQG(UIDWHVLFKGLH)UVWLQGHU.LRMDXQGVHW]WHVLHJHIDQJHQ(UVWGDQQ ZUGH GLH )UVWLQ GLH )UHLKHLW ]XUFNHUODQJHQ ZHQQ GDV 9RON GHU .LRMD VLFK GHP :LOOHQ GHV (ZLJHQ .ULHJHUV JHEHXJW KDWWH 2KQH GD HV MHPDQG DKQWH EHJLQJ .URYRUGDPLWGHQHQWVFKHLGHQGHQ)HKOHU 'HQQ HLQ )UHPGHU HLQ 0XWLJHU K|UWH *LOJLGV +LOIHUXI XQG PDFKWH VLFK DXI LKU EHL]XVWHKHQ *LOJLG HUNDQQWH GHQ 0XW XQG GLH (QWVFKORVVHQKHLW GHV )UHPGHQ XQG REZRKO GHU .RQWDNW QXU NXU] ZDU HQWEUDQQWH VLH LQ /LHEH ]X LKUHP +HOIHU 'HU +HOIHU DOOHUGLQJV ZDU YRQ .URYRU LQ HLQH )DOOH JHORFNW ZRUGHQ XQG PXWH ]XP =ZHLNDPSIJHJHQGHQ(ZLJHQ.ULHJHUDQWUHWHQ (U ZlUH XQWHUOHJHQ $EHU LQ GHU 9HU]ZHLIOXQJ GLH *LOJLG EHU GDV 6FKLFNVDO GHV *HOLHEWHQHPSIDQGJHODQJLKUZDV*HQHUDWLRQHQYRQ.LRMDYHUJHEHQV]XYROO]LHKHQ YHUVXFKWKDWWHQ6LHJHQHULHUWHGHQ,QLWLDOLPSXOV,KU.|USHUZXUGHHQWPDWHULDOLVLHUW XQG YHUZDQGHOWH VLFK LQ 0HQWDOHQHUJLH (LQHQ 7HLO GHU IUHLJHVHW]WHQ (QHUJLH YHUZHQGHWH VLH XP .URYRU ]X VFKODJHQ ,Q OHW]WHU 6HNXQGH UHWWHWH VLH VR LKUHQ
WDSIHUHQ +HOIHU (LQHQ ZHLWDXV JU|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|JOLFK (U HQWIDFKWH LQ *LOJLGV +HU] GLH /LHEH GHUHQ .UDIW DXVUHLFKWH XP HLQHQ DXVUHLFKHQG VWDUNHQ HQHUJHWLVFKHQ ,PSXOV ]X HU]HXJHQ )HOOPHU /OR\G VWDQG DQ GLH :DQG GHV NDKOHQ 5DXPHV JHOHKQW (U KDWWH GLH $XJHQ JHVFKORVVHQ XQG LQ VHLQHP %HZXWVHLQ ZDU HLQ WRVHQGHV 6XPPHQ DOV VHLHQ HV ZLUNOLFKGLH0LOOLRQHQYRQ.LRMDXQGQLFKWQXU*LOJLGDOOHLQGLH]XLKPVSUDFKHQ 9LHOOHLFKWZDUHVZLUNOLFKVR*LOJLGZDU]XP7UDXPJHZRUGHQXQGPLWGHQ:HVHQ LKUHV 9RONHV ]X HLQHP JU|HUHQ *DQ]HQ YHUVFKPRO]HQ (U KDWWH GD]X EHLJHWUDJHQ GD GLH .LRMD GDV =LHO HUUHLFKWHQ DXI GDV VLH VHLW +XQGHUWHQ YRQ *HQHUDWLRQHQ KLQVWUHEWHQ:HQQHUVLFKGDVYRU$XJHQKLHOWGDQQIDQGHUEUDQQWHGHU6FKPHU] QLFKWPHKUVRDUJZLH]XYRU 6WRO]LVWHLQVFKZDFKHU(UVDW]IUHUIOOWH/LHEHGDFKWHHUVDUNDVWLVFK (UVROONHLQ(UVDW]VHLQ'LH7DWGHV+HOGHQKDW8QZLGHUUXIOLFKHVJHVFKDIIHQ8QGGLH /LHEHEHVWHKW*LOJLGOLHEWGHQ)UHPGHQGHULKU]X+LOIHNDP -HOlQJHUGLH6WLPPH]XLKPVSUDFKGHVWRPHKUYHUORUVLHDQ3HUV|QOLFKNHLW7UDXHU IOOWHLKPGLH$XJHQPLW7UlQHQ(UKDWWH*LOJLGYHUORUHQ(VJDEGLH3HUVRQ*LOJLG QLFKW PHKU 'LH ZXQGHUVFK|QH )UDX PLW GHQ YROOHQ EUDXQHQ +DDUHQ GHQ JURHQ GXQNOHQ$XJHQXQGGHPYHUIKUHULVFKHQ0XQGKDWWHDXIJHK|UW]XH[LVWLHUHQ 'DHUHLJQHWHVLFKHWZDV6HOWVDPHVWLHILQGHU6HHOHGHV0XWDQWHQ(UEOLFNWH]XUFN DXIGLHYHUJDQJHQHQ:RFKHQDXIGLH=HLWVHLWMHQHPHQWVFKHLGHQGHQ$XJHQEOLFNLQ GHQ 0DUVFKHQ YRQ /HXND 8QG GHU 7URW] EHJDQQ VLFK ]X UHJHQ (U ZDU HLQHP 3KDQWRPQDFKJHMDJW(LQSDDU6HNXQGHQODQJKDWWHHUVHLQHQ7UDXPLQGHQ$UPHQ JHKDOWHQ XQG GDV +HU] ZDU LKP EHUJHIORVVHQ YRU *OFN $EHU GDQQ KDWWH GDV 5lGHUZHUN GHV 6FKLFNVDOV LKQ HUIDW XQG XPHLQ+DDU]HUPDKOHQ$OOH0KHZDU XPVRQVW JHZHVHQ (U KDWWH HWZDV YROOEUDFKW ZDV DQGHUH DOV KHURLVFK EH]HLFKQHQ PRFKWHQ$EHUVHLQH6HHOHZlUHEHLQDKHGDEHLDXIGHU6WUHFNHJHEOLHEHQ :HUKDWWHGDV5HFKWVRPLWLKP]XYHUIDKUHQ":HOFKH0DFKWGHV.RVPRVZDJWHHV LKPKRKOHQ6WRO]]XUHLFKHQZRHUQDFKGHU/LHEHJHJULIIHQKDWWH":LHNRQQWHHLQ VROFKHV 8QUHFKW JHVFKHKHQ RKQH GD MHPDQG GDIU ]XU 5HFKHQVFKDIW JH]RJHQ ZXUGH" 6HP 7URW] YHUZDQGHOWH VLFK LQ =RUQ (U ZDU HV VDWW VHLQH 6HHOH IUHPGHQ XQPHQVFKOLFKHQ 0lFKWHQ DOV 6SLHOEDOO ]X EHUODVVHQ (U OLH VLFK GDV +HU] QLFKW EUHFKHQ
³/HE ZRKO PHLQ )UHXQG )HOOPHU VDJWH 2ULVKD ³,FK KDEH QRFK HWOLFKH 7DXVHQG /HEHQVMDKUH YRU PLU XQG GX VDJVW GX ELVW YLUWXHOO XQVWHUEOLFK (V ZLUG XQV DOVR ZRKOJHOLQJHQXQVHUH/HEHQVSIDGHGD]X]XEHZHJHQGDVLHHLQDQGHUQRFKHLQPDO NUHX]HQ )HOOPHU/OR\GEOLFNWHGRUWKLQZRGLHPDWWOHXFKWHQGH+DOENXJHOVLFKZ|OEWH1DFK VHLQHQ$QJDEHQKDWWH2ULVKDGDVHUEHXWHWH%RRWDQHLQHQ2UWJHVWHXHUWDQGHPVLFK ]ZHL 3UlIHUHQ]VWUlQJH GHV SVLRQLVFKHQ 1HW]HV VFKQLWWHQ 'LH KDOENXJHOLJH /HXFKWHUVFKHLQXQJIUGHQ'XDUDXQVLFKWEDUPDUNLHUWHGHQ2UWDQGHP)HOOPHUPLW EHVRQGHUHU/HLFKWLJNHLWLQGDV1HW]HLQVWHLJHQNRQQWH 'HU JHJHQZlUWLJH 6WDQGRUW GHV %RRWHV ODJ /LFKWMDKUH YRQ 9DWRPDQGU\ HQWIHUQW $XI GHQ .DQlOHQ GHV 3VL)XQNV ZXUGH GLH 1DFKULFKW YHUEUHLWHW GD GDV 9RONVIHVW DXI 9DWRPDQGU\ SODQPlLJ XQG XQWHU EHJHLVWHUWHU %HWHLOLJXQJ KXQGHUWWDXVHQGHU)HVWEHVXFKHU]X(QGHJHJDQJHQVHL'HU(ZLJH.ULHJHU]HLJWHVLFK LQGHU3UDFKWVHLQHUVWlKOHUQHQ5VWXQJ0DQNRQQWHQLFKWHUNHQQHQREGDV%LOGHFKW RGHUV\QWKHWLVLHUWZDU 'DV%RRWZDUQLFKWYHUIROJWZRUGHQ2ULVKDZUGHHVEHKDOWHQ6FKOLHOLFKZDUHU GHUMHQLJHGHUHVJHNDSHUWKDWWH ³,FK ZQVFKH GLU *OFN EHL GHLQHP %HPKHQ GDV %HZXWVHLQ GHU 9|ONHU YRQ 'KDWDEDDU]XZHFNHQVDJWH)HOOPHU³-HHKHUGX(UIROJKDVWGHVWRPHKUJHUlWGHU 7KURQGHV(ZLJHQ.ULHJHUVLQV:DQNHQ$XFKLFKIUHXHPLFKDXIHLQ:LHGHUVHKHQ ³'HQNH DQ PLFK ZHQQ GX 2EHDK EHJHJQHVW EDW 2ULVKD ³6DJ LKP GD LFK PLFK EHPKHVHLQ(UEHJXW]XYHUZDOWHQ )HOOPHU/OR\GQLFNWH ³8QGJLEPLUQRFKHLQPDOGLH+DQGVDJWHGHU'XDUD³(VLVWHLQHVFK|QH*HVWH 6HNXQGHQVSlWHUWUDW)HOOPHUDXIGLHOHXFKWHQGH+DOENXJHO]X ³=XUFN]XU,//2WUXJHUGHP6\QWURQDXI 1RFK LP VHOEHQ $XJHQEOLFN KDWWH HU GDV EXQWH VWlQGLJ EHZHJWH)DUEHQJHZLUUGHV 3VLUDXPV YRU VLFK (U WULHE PLW HLQHU *HVFKZLQGLJNHLW GLH PHQVFKOLFKHV 'HQNHQ QLFKWPHKU]XHUIDVVHQYHUPRFKWHGLHJUQH%DKQHLQHV3UlIHUHQ]VWUDQJVHQWODQJ DXIGHQ6WDQGRUWVHLQHV6FKLIIHV]X $XI6DEKDOZHUGHQVLHPLFKYHUPLWKDEHQGDFKWHHU 'HU*HGDQNHDXIGHPVFKQHOOVWHQ:HJ]XP+RUWGHU1HW]JlQJHU]XUFN]XNHKUHQ YHUXUVDFKWHLKPJHOLQGHV8QEHKDJHQ$XI6DEKDOZDUHUXQWHU)UHXQGHQ)UHXQGHQ PXWHHUPLWWHLOHQZLHHVLKPLQ]ZLVFKHQHUJDQJHQZDU'DQDFKVWDQGLKPQLFKW GHU 6LQQ (U EUDXFKWH QRFK HLQ SDDU 7DJH ELV HU VHLQ $EHQWHXHU VRZHLW YHUGDXW KDWWHGDHURKQH%HVFKZHUGHGDUEHUUHGHQNRQQWH 'D PDWHULDOLVLHUWH HLQH ,GHH GLH LKQ HUKHLWHUWH (U KDWWH QRFK HLQH 0HQJH EDNXPSDLLVFKHUXQGYDWRPDQGULVFKHU=DKOXQJVPLWWHOLQGHU7DVFKH:HOFKEHVVHUHU 2UWVLHLQJlQJLJH:DUHXP]XWDXVFKHQDOV0HGLGRRU"7KXVDOIDQTZUGHLKQJXW EHGLHQHQ
%HL GLHVHU *HOHJHQKHLW NRQQWH HU 1XULPHU DXIVXFKHQ 6FKOLHOLFK KDWWH VLH LKQ HLQJHODGHQ(UHULQQHUWHVLFKPLW:RQQHLKUHUVDPWHQHQ+DXWXQGLKUHUYLHUIHLVWHQ %UVWH :DKUKDIWLJGDVZUGHHUWXQ (1'(