HERRNHGLWRULDO
'LH3DJLQLHUXQJGHV(ERRNVHQWVSULFKWGHUGHU9RUODJH$XI GLH1DFKZHLVHGHV2ULJLQDOVZXUGHYHU]LFKWHW...
88 downloads
1528 Views
652KB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
HERRNHGLWRULDO
'LH3DJLQLHUXQJGHV(ERRNVHQWVSULFKWGHUGHU9RUODJH$XI GLH1DFKZHLVHGHV2ULJLQDOVZXUGHYHU]LFKWHW
HGLWLRQVXKUNDPS 5HGDNWLRQ*QWKHU%XVFK
+DQV 0D\HU JHERUHQ DP 0lU] LQ .|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lW]HQ LQ GHQHQ HU GLH 3RODULWlW GHU QHXHVWHQ GHXWVFKHQ /LWHUDWXU DXI]HLJW HU XQWHUVFKHLGHW ]ZLVFKHQ GLUHNWHU $NWLRQ DOV JHSODQWHP =XIDOO LP 6LQQH GHV +DSSHQLQJV XQG GHU 1LFKWDNWLRQ LP 6LQQH ªZRUWORVHU ,QQHUOLFKNHLW© 0D\HU ZHQGHW VLFK JHJHQ HLQHQ 0RGHUQLWlWV EHJULII GHU GLH $EVDJH DQ GHQ +LVWRULVPXV HLQVFKOLHW XQG EH VWLPPW JHJHQZlUWLJH OLWHUDULVFKH 3KlQRPHQH LQ LKUHP JHVFKLFKW OLFKHQ*HZRUGHQVHLQXQGLQLKUHUJHVHOOVFKDIWOLFKHQ%HGLQJWKHLW
+DQV0D\HU 'DV*HVFKHKHQXQGGDV6FKZHLJHQ $VSHNWHGHU/LWHUDWXU
6XKUNDPS9HUODJ
HGLWLRQVXKUNDPS 7DXVHQG 6XKUNDPS 9HUODJ )UDQNIXUW DP 0 DLQ (UVWDXVJDEH 3 ULQWHG LQ *HUPDQ\ $OOH 5HFKWH YRUEHKDOWHQ LQVEHVRQGHUH GDV GHU hEHU VHW]XQJ GHV |IIHQWOLFKHQ 9HUWUDJV XQG GHU hEHUWUDJXQJ GXUFK 5XQG IXQN RGHU )HUQVHKHQ DXFK HLQ]HOQHU 7HLOH 6DW] LQ /LQRW\SH *DUDPRQG 'UXFN XQG %LQGXQJ EHL *HRUJ : DJQHU 1|UGOLQJHQ *HVDPWDXV VWDWWXQJ:LOO\)OHFNKDXV
,QKDOW 9RUEHPHUNXQJ +DSSHQLQJXQG,QQHQZHOW 6SUHFKHQXQG9HUVWXPPHQGHU'LFKWHU )HOL[.UXOOXQG2VNDU0DW]HUDWK $VSHNWHGHV5RPDQV %LOGXQJ%HVLW]XQG7KHDWHU .DVSDUGHU)UHPGHXQGGHU=XIDOO /LWHUDULVFKH$VSHNWHGHU(QWIUHPGXQJ 1DFKZHLVH
9RUEHPHUNXQJ +DSSHQLQJXQG,QQHQZHOW (V JLEW HLQH (LQVFKFKWHUXQJ GXUFK GLH .ODVVL]LWlW 0DQ NDQQ GDUEHU EHL %UHFKW QDFKOHVHQ )UHLOLFK JLEW HV DXFK HLQH (LQVFKFKWHUXQJ GXUFK 0RGHUQLWlW 0R GHUQLWlW DEHU YHUVWHKW VLFK JHJHQZlUWLJ QLFKW EOR DOV $EVDJH DQ GHQ +LVWRULVPXV GHV -DKUKXQGHUWV VRQGHUQ DQ DOOH %HPKXQJ XP JHVFKLFKWOLFKH (U NHQQWQLV (V KDQGHOW VLFK XP GHQ +DQJ GLH 'LDJQRVH DNWXHOOHU 3RVLWLRQHQ PLW +LOIH JHVFKLFKWOLFKHU .DWH JRULHQ DOV ZLVVHQVFKDIWOLFKHQ $QDFKURQLVPXV ]X GH QXQ]LHUHQ DOV 5FNIDOO LQ GDV ªVFKOHFKWH -DKU KXQGHUW© ,Q GHQ ZHLW EHU )UDQNUHLFK KLQDXV DOV JHLVWLJH .RQ VWHOODWLRQ EHPHUNHQVZHUWHQ $NWLRQHQ XQG 5HDNWLR QHQ GHU 3DULVHU 6WXGHQWHQ LP 0DL ZXUGH -HDQ 3DXO 6DUWUHV %HPKXQJ XP HLQH KLVWRULVFKGLDOHNWLVFKH ,QWHUSUHWDWLRQ GHU 6LWXDWLRQ RKQH YLHO +|IOLFKNHLW DEJHWDQ JHVFKLFKWVORVH $NWLYLWlW GLH PDQ DOV (UEH YRQ $OEHUW &DPXV DFKWXQJVYROO EHUQDKP VFKLHQ GLH 2EHUKDQG]XEHKDOWHQ (V JLEW PHUNZUGLJH (SLSKDQLHQ LQ GHU QHXHUHQ /L WHUDWXU 6LH EHGHXWHQ ZHLW PHKU DOV EORH OLWHUDULVFKH $XIHUVWHKXQJ +HUPDQQ +HVVHV 6WHSSHQZROI VSLHOW LQ $PHULND HLQH lKQOLFKH 5ROOH ZLH GHU .XOW GHV XQKL VWRULVFK VLFK HPS|UHQGHQ &DPXV5HEHOOHQ LQ )UDQN UHLFK 1DWUOLFK NDQQ *HVFKLFKWVGLDOHNWLN DXFK GLHVH 9RUJlQJHDOV0RPHQWHHLQHVKLVWRULVFKHQ3UR]HVVHV
LQWHUSUHWLHUHQ 'LH 'LDJQRVH PWH ODXWHQ $XINRP PHQ HLQHU QHXHQ 3KDVH GHV 1LHW]VFKHDQLVPXV (LQ ]HOQH %HWUDFKWXQJHQ 1LHW]VFKHV EHU 1XW]HQ XQG 1DFKWHLO GHU +LVWRULH IU GDV /HEHQ KDWWHQ LQV -DKUKXQGHUW KLQEHUJHZLUNW 'LH )RUGHUXQJ EHL VSLHOVZHLVH QDFK GHP 9HUJHVVHQN|QQHQ %XFKWLWHO ODX WHWHQ VR 'HU 8QWHUJDQJ GHU (UGH DP *HLVW RGHU *H VFKLFKWHDOV6LQQJHEXQJGHV6LQQORVHQ 1DFK GHP =ZHLWHQ :HOWNULHJ NDP ]XQlFKVW YRQ HLQL JHQ 1LHW]VFKHDQHUQ LQ GHU /LWHUDWXU GHU QHXH DQWLKL VWRULVWLVFKH ,PSXOV *RWWIULHG %HQQ 3DXO 9DOHU\ $OEHUW &DPXV 'LH PDU[LVWLVFKH ,QWHUSUHWDWLRQ QDKP GHQ )DOO QLFKW VRQGHUOLFK HUQVW 6LH VSUDFK YRQ VSlW EUJHUOLFKHU 'HNDGHQ] RGHU ª=HUVW|UXQJ GHU 9HU QXQIW© (V VWHFNWH PHKU GDKLQWHU *HGDQNHQ GHU 6WUXNWXUDOLVWHQ LQ )UDQNUHLFK KDWWHQ DQGHUHV ]X EH GHXWHQ DOV EORHQ ILQDOEUJHUOLFKHQ ªhEHUEDX© 0R GHUQLWlW EHVWDQG EDOG GDULQ GDV 'HQNHQ LQ JHVFKLFKW OLFKHQ =XVDPPHQKlQJHQ DOV WUDGLWLRQDOLVWLVFK JDU UH JUHVVLY LQVJHKHLP XQPRGHUQ LP /LFKWH ZLVVHQVFKDIW OLFKHU(UIDKUXQJ]XYHUGlFKWLJHQ
,Q GHQ $XIVlW]HQ GHV YRUOLHJHQGHQ %DQGHV ZLUG GHQQRFK YHUVXFKW HLQHU (LQVFKFKWHUXQJ GXUFK 0R GHUQLWlW ]X ZLGHUVWHKHQ 'LH YLHU $QDO\VHQ EHU $VSHNWH GHU /\ULN GHV (U]lKOHQV GHV 7KHDWHUV YRQ =XIDOO XQG 'HWHUPLQDWLRQ LQ GHU /LWHUDWXU VLQG SUR ]HKDIW DQJHOHJW 6LH JHKHQ DXV YRQ DNWXHOOHQ OLWHUD ULVFKHQ 3KlQRPHQHQ YRQ GHU 2V]LOODWLRQ PRGHUQHU /\ULN ]ZLVFKHQ GHU $SKDVLH XQG GHU $OOWDJVJHVFKZlW ]LJNHLWYRP$XVZHLFKHQPRGHUQHU(U]lKOHUYRUGHU
)DEHO XQG GHQ HSLVFKHQ &KDUDNWHUHQ YRQ GHU +LOI ORVLJNHLW HLQHV 7KHDWHUV ]ZLVFKHQ EUJHUOLFKHU %HVLW] DWWLWGH XQG lVWKHWLVLHUHQGHQ +DSSHQLQJV YRQ GHU )UHPGKHLW LQ GHU PRGHUQHQ /LWHUDWXU DOV 8PNHKUXQJ HLQHV KLVWRULVFK QLFKW XQEHNDQQWHQ 6DFKYHUKDOWV hEHU DOO MHGRFK ZLUG GLH NRQNUHWH OLWHUDULVFKH 6LWXDWLRQ DOV HLQ *HZRUGHQVHLQ JHGHXWHW XQG DOV $XVGUXFN JHVHOO VFKDIWOLFKHU :LGHUVSUFKH XQVHUHU *HJHQZDUW LQWHU SUHWLHUW $XFK ZHU QLFKW GHU (LQVFKFKWHUXQJ GXUFK 0RGHUQL WlW HUOLHJW XQG QLFKW ZLHGHU HLQPDO GDV (QGH DOOHU ELVKHULJHQ /LWHUDWXU DOV (QGH GHU /LWHUDWXU VFKOHFKW KLQ YHUVWHKW ZLUG DQHUNHQQHQ GD VLFK DQGHUHV YROO]LHKW DOV GDV $EVWHUEHQ YHUWUDXWHU *DWWXQJHQ XQG ,QVWLWXWLRQHQ 6HOEVW JXWH 7KHDWHUDXIIKUXQJHQ RGHU UHL]YROOH QHXH 5RPDQH GHU EHJDEWHQ )RUPXOLH UHU QLFKW ]XOHW]W /HVXQJHQ JHQXLQHU /\ULNHU ZHLVHQ HLQHQ (LQVFKODJ LQV .RPLVFKH RGHU DXFK 5KUHQGH DXI 6ROO PDQ QRFK YRQ 5RPDQHQ VSUHFKHQ ZHQQ EH KHUUVFKHQG DOV 5RPDQWKHPD GLH 'LVNXVVLRQ EHU 8Q P|JOLFKNHLWHQ GHV (U]lKOHQV LPPHU ZLHGHU EHOOHWUL VWLVFK DEJHZDQGHOW ZLUG" 'LH EHVWHQ GHU PRGHUQHQ /\ULNHU KDEHQ GHQ %ULHI GHV /RUG &KDQGRV JHOHVHQ XQG DOV $XVGUXFN HLJHQHU 6FKZLHULJNHLWHQ HPSIXQ GHQ ,PPHU ZHQLJHU VFKHLQW VLFK GLH 6SUDFKH GD]X KHU]XJHEHQ QDF K GHU )RUPHO 3HWHU +DQGNHV DOV EORH $XHQZHOW HLQHU ,QQHQZHOW ]X IXQJLHUHQ ,Q DOOHQ .QVWHQ ZHKUW VLFK GHU 3URGXNWLRQVSUR]H GHV $UWLVWHQ JHJHQ GLH IUKHUHQ %HJULIIH YRQ .RPSR VLWLRQ 7KHPDWLN *DWWXQJ )RUPVWUXNWXU 'DV DOHD WRULVFKH3ULQ]LSZLUGEHVFKZRUHQDOV+DSSHQLQJPX
VLNDOLVFKH ,PSURYLVDWLRQ O\ULVFKHV 3X]]OH DOV 5HFKW DXI GHQ HLJHQHQ =XIDOO 'LH SXQNWXHOOH $NWLRQ KLVWR ULVFK XQYHUVWDQGHQ ZHGHU VWUDWHJLVFK QRFK WDNWLVFK NDONXOLHUW EHGHXWHW GLH $ENHKU YRQ DOOHP .XQVWZHUN ]XJXQVWHQ GHU GLUHNWHQ ]ZDU JHZROOWHQ DEHU QLFKW YRUVlW]OLFKJHSODQWHQ$NWLRQ 'LH *HJHQSRVLWLRQ GLH VLFK NRPSOHPHQWlU GD]X YHU KlOW EHGHXWHW lXHUVWH 1LFKWDNWLRQ ZRUWORVH ,QQHU OLFKNHLW KlOW IHVW DQ HLQHU YLUWXHOOHQ 6FK|SIHUNUDIW GLH HV MHGRFK DEOHKQW VLFK LQ LUJHQGHLQHP :HUN ]X ªHQWlXHUQ© +DSSHQLQJ UHLQH ,QQHQZHOW XQG $OHD WRULN YHUELQGHQ VLFK PLWHLQDQGHU LP $XJHQEOLFN GD HLQHU DXIWULWW XQG SURNODPLHUW ,FK VHOEVW ELQ HLQ .XQVWZHUN 1RYDOLV KlWWH ]XJHVWLPPW YLHOOHLFKW DXFK GHU 'DQG\ DP $XVJDQJ GHV OHW]WHQ -DKUKXQ GHUWV 0DU[LVWLVFKH *HVFKLFKWVGLDOHNWLN YHUPDJ VROFKH 9RUJlQJH DOV JHVHOOVFKDIWOLFKH 6WDQGRUWH ]X LQWHUSUH WLHUHQ $OOHLQ 8UWHLOH ZLH SURJUHVVLY XQG GHNDGHQW EUJHUOLFK RGHU SUROHWDULVFK lQGHUQ GHQ =XVWDQG QLFKW DE 6HLW GHU VR]LDOLVWLVFKH 5HDOLVPXV GH]LGLHUW GLH :HLWHUIKUXQJ HLQHU YHUJDQJHQHQ %UJHUPRGH LQ GHU .XQVW SRVWXOLHUWH IHKOW HV DP HFKWHQ :LGHUVSUXFK ]X HLQHU NXOWXUHOOHQ $NWLYLWlW GLH VLFK ]ZLVFKHQ +DSSHQLQJ XQG ,QQHQZHOW QLFKW PHKU ]X HQWVFKHLGHQ YHUPDJ 'LH YLHU $XIVlW]H GLHVHV %DQGHV EHKDQGHOQ YLHU $VSHNWH GHVVHOEHQ 3KlQRPHQV 6LH IUDJHQ PLW $GULDQ /HYHUNKQ EHL 7KRPDV 0DQQ RE HV QRFK P|JOLFK VHL ªGD XQWHU GHQ 0HQVFKHQ VROFKH 2UGQXQJ VLFK KHU VWHOOH GLH GHP VFK|QHQ :HUN ZLHGHU /HEHQVJUXQG XQGHLQUHGOLFK+LQHLQSDVVHQEHUHLWHQ©
6SUHFKHQXQG9HUVWXPPHQGHU'LFKWHU )U:DOWHU-HQV 7h%,1*(1 -b11(5
=XU%OLQGKHLWEHU UHGHWH$XJHQ ,KUH²ªHLQ 5lWVHOLVW5HLQ HQWVSUXQJHQHV©LKUH (ULQQHUXQJDQ VFKZLPPHQGH+|OGHUOLQWUPHP|ZHQ XPVFKZLUUW %HVXFKHHUWUXQNHQHU6FKUHLQHUEHL GLHVHQ WDXFKHQGHQ:RUWHQ
.lPH NlPHHLQ0HQVFK NlPHHLQ0HQVFK]XU:HOWKHXWHPLW GHP/LFKWEDUWGHU 3DWULDUFKHQHUGUIWH VSUlFKHUYRQGLHVHU =HLWHU GUIWH QXUODOOHQXQGODOOHQ LPPHULPPHU ]X]X ª3DOODNVFK3DOODNVFK©
(LQ *HGLFKW YRQ 3DXO &HODQ 'LH hEHUVFKULIW YHU KHLW *HQDXLJNHLW GHU SRHWLVFKHQ %LOGVSKlUH 2UW 7ELQJHQ =HLW -lQQHU DOVR HLQH 0RQDWVEH]HLFKQXQJ GLH gVWHUUHLFKHUQ YHUWUDXW LVW ]XJOHLFK DEHU HLQH :RUWDXUD GHV $OWHUWPOLFKHQ HYR]LHUW ,PPHUKLQ *HQDXLJNHLW 'HU 6FKOX GHV *HGLFKWHV DEHU VFKHLQW LQV K|FKVW 8QJHQDXH ]X HQWJOHLWHQ 3DOODNVFK LQ .ODPPHUQ JHVHW]W VR GD HLQH 3DUHQWKHVH GHQ *H GLFKWVFKOX ELOGHW ,QQHUKDOE GHU .ODPPHU VWHKHQ GLH :RUWH GD]X QRFK ]ZLVFKHQ $QIKUXQJV]HLFKHQ $OVR DXFK QRFK HLQ =LWDW" (LQ *HGLFKW PLWKLQ GDV VLFK PLW XQYHUVWlQGOLFKHQ :|UWHUQ PLW 3DUHQWKHVH XQG =LWDW YRP /HVHU HQWIHUQW (LQ $EVFKOX ² VFKHLQEDU ² GHU lXHUVWHQ8QJHQDXLJNHLW (LQ DQGHUHV ]ZLVFKHQ $QIKUXQJV]HLFKHQ DXIWDX FKHQGHV =LWDW PLWWHQ LP *HGLFKW YHUPDJ ZHLWHU ]XKHOIHQ ªHLQ 5lWVHO LVW 5HLQHQWVSUXQJHQHV© 'DV PXWHW YHUWUDXW DQ ZLUG HUNDQQW DOV 6WURSKHQEHJLQQ LQ GHU 5KHLQK\PQH )ULHGULFK +|OGHUOLQV 'LH %H]LH KXQJ GHV ]HLWJHQ|VVLVFKHQ 'LFKWHUV ]XP ZLQWHUOLFKHQ 7ELQJHQ LVW GHPQDFK LP *HGLFKW QLFKW EOR GXUFK GLH (ULQQHUXQJ DQ *HGHQNVWlWWHQ YROO]RJHQ DQ GHQ P|ZHQXPVFKZLUUWHQ +|OGHUOLQWXUP GHU KLHU LQ GLH 0HKU]DKO YHUVHW]W ]XP 6FKZLPPHQ JHEUDFKW LQ ]ZHLIDFKHU :HLVH DOVR HQWZLUNOLFKW ZXUGH ,Q GUHL IDFKHU VRJDU GHQQ GDV *HGLFKW YHU]LFKWHW DXI %HQHQ QXQJ GHV +|OGHUOLQWXUPV XQG ZLOO LKQ QXU DOV (ULQ QHUXQJVPRPHQWDXIEHZDKUHQ -HGHV :RUW LQ MHGHU =HLOH LVW YLHOGHXWLJ JHKDOWHQ PHLQW MHZHLOV $XHQZHOW XQG ,QQHQZHOW $EHU DXFK GLHKHXWLJH7ELQJHQYLVLRQXQGGLH7ELQJHQYLVLRQ
)ULHGULFK +|OGHUOLQV ª=XU %OLQGKHLW EHUUHGHWH $XJHQ© GDV ]LHOW DXI HLQH NKQH 'HXWXQJ GHV 8P QDFKWXQJVYRUJDQJV EHL +|OGHUOLQ LVW DEHU DXFK DOV $XVVDJH GHV KHXWLJHQ 'LFKWHUV EHU VLFK VHOEVW ]X YHU VWHKHQ 'HU GLFKWHULVFKH 6HKHU JHGHQNW QLFKW PHKU ]X VHKHQ XQG DXV]XVDJHQ YHUVDJW VLFK GHQ 9LVLRQHQ WDXFKW ]XUFN DXV GHU JHVHKHQHQ :HOW LQ GLH HULQQHUWH 7DXFKW JOHLFK GHQ HUWUXQNHQHQ 6FKUHLQHUQ DEHUPDOV HLQH 5HPLQLV]HQ] DXV GHU +|OGHUOLQ=HLW KLQDE ]X GHQ WDXFKHQGHQ :RUWHQ XP VLFK VR GXUFK (QWZLUN OLFKXQJ XQG +LQDEWDXFKHQ (ULQQHUXQJ XQG 6HOEVW EOHQGXQJ ]XU $XVVDJH YRU]XWDVWHQ 'LH NRPPW VWDP PHOQG VWRWWHUQG ODOOHQG LQ :LHGHUKROXQJHQ 6SUHFK DQVlW]HQ XQG EHVFKZ|UW GDV 'RSSHOELOG GHV EOLQGHQ GLFKWHULVFKHQ 6HKHUV XQG GHV VWDPPHOQGHQ 3URSKHWHQ KHUDXI +RPHU XQG 0RVHV 'DV 8UELOG DOOHU 'LFKWHU XQG GHU 3URSKHWHQ ªPLW GHP /LFKWEDUW GHU 3DWULDU FKHQ© 'HU $XIEDX GHV *HGLFKWV GLHQW GLHVHP 5FN]XJ DXV GHU :LUNOLFKNHLW EHU GLH (ULQQHUXQJ LQV *HVWDOWORVH *OHLFK]HLWLJ HLQHP 5FN]XJ DXV GHU JHIRUPWHQ 'LFK WHUZHOW LQV 8QJHIRUPWH LQV /DOOHQ (LQ 9RUJDQJ GHU 5HJUHVVLRQ JDQ] RKQH )UDJH +HXWLJHV 'LFKWHUWXP DOV QHXH .LQGKHLW DEHU DOV VFKUHFNOLFKH QHXH ,QIDQWL OLWlW YHUVWDQGHQ %HL +|OGHUOLQ ZDU QRFK DOOHV 6SUDFKH JHZRUGHQ )UHLOLFK ZDU DXFK EHL LKP VFKRQ GLH $K QXQJ YRQ LKUHQ *UHQ]HQ XQG $XVVDJHVFKUDQNHQ YRU KDQGHQ &HODQ ]LWLHUW GHQ 9HUV ªHLQ 5lWVHO LVW 5HLQ HQWVSUXQJHQHV© $EHU GDPLW YHUZHLVW HU GHQ /HVHU DXI GLH )RUWVHW]XQJ GHV +|OGHUOLQWH[WHV GHU VR ZHL WHUJHKWªDXFKGHU*HVDQJNDXPGDUIHVHQWKOOHQ©
1XQ MHGRFK GHU VR UlWVHOKDIWH $XVNODQJ ª3DOODNVFK 3DOODNVFK© $EHU DXFK GLHVHV &HODQ*HGLFKW LVW GLH 6FK|SIXQJ HLQHV SRHWD GRFWXV HLQHV JHELOGHWHQ XQG JHOHKUWHQ 'LFKWHUV 9RQ MHQHQ QlPOLFK GLH GHQ DOW JH ZRUGHQHQ JHLVWHVYHUZLUUWHQ +|OGHUOLQ ]X 7ELQJHQ LQ VHLQHP 7XUP DXI]XVXFKHQ SIOHJWHQ ZXUGH EHULFK WHW HU KDEH LQ $XJHQEOLFNHQ JURHU (UUHJWKHLW HEHQ GLHVH :RUWH KHUYRUJHVWRHQ ª3DOODNVFK 3DOODNVFK© 'LH 6WUXNWXU GHV DXI GHQ HUVWHQ %OLFN VR GXQNOHQ XQG IDVW XQHQWZLUUEDUHQ *HGLFKWV LVW MHW]W YLHOOHLFKW GHXW OLFKHU JHZRUGHQ .RQIURQWLHUXQJ GHV KHXWLJHQ 'LFK WHUV PLW HLQHP 'LFKWHUWXP GHU +|OGHUOLQ=HLW 1LFKW HLQ 9HUJOHLFK &HODQ+|OGHUOLQ ZLUG JH]RJHQ EHLOHLEH QLFKW DEHU HLQH %H]LHKXQJ KHUJHVWHOOW ]ZLVFKHQ GLFK WHULVFKHQ 0|JOLFKNHLWHQ GDPDOV XQG MHW]W 'HU KHX WLJH 'LFKWHU ªVSUlFK HU YRQ GLHVHU =HLW© ZLH HV EHL &HODQ KHLW ZDV DEHUPDOV GRSSHOGHXWLJ LVW XQG VR ZRKO HLQ 6SUHFKHQ YRQ ªGLHVHU =HLW© GHV XPQDFKWHWHQ +|OGHUOLQ KHLHQ NDQQ XQG HLQ 6SUHFKHQ YRQ GLHVHU XQVHUHU =HLW ZLUG ]XP /DOOHU 6WDPPOHU ]X HLQHP 3URSKHWHQ GHU PLW (ULQQHUXQJHQ OHEW XQG YRQ LKQHQ QXU DQVDW]ZHLVH ]X EHULFKWHQ YHUPDJ 'DV (QGVWDGL XP GHV XPQDFKWHWHQ +|OGHUOLQ GHP VLFK GLH 6SUDFKH RIIHQEDU YHUVDJW XQG GHU VLFK QHXH :|UWHU HUILQGHQ PX VFKHLQW ]XP $QIDQJVVWDGLXP DOOHU KHXWLJHQ 3RHWHUHL JHZRUGHQ ]X VHLQ +LHU KDEHQ ZLU EHLGHV YHUHLQW LQ HLQHP *HGLFKW 6SUHFKHQ XQG 9HUVWXPPHQ GHU 'LFKWHU 'LHV *HGLFKW 3DXO &HODQV KDQGHOW YRP 'LFKWHU XQG GHU 'LFKWXQJ LQ GLHVHU =HLW (V EH]HLFK QHW GLH )DOOK|KH YRQ +|OGHUOLQ ]X &HODQ GLH QLFKW DOV'LPHQVLRQVXQWHUVFKLHGGHU7DOHQWHYHUVWDQGHQ
ZHUGHQ VROOWH VRQGHUQ DOV HLQH GHU 0|JOLFKNHLWHQ *HVHKHQHV (ULQQHUWHV 9HUVWDQGHQHV ]XU 6SUDFKH ]X EULQJHQ (LQ *HGLFKW YRQ GHU 'LFKWXQJ YRQ GHU 6SUDFKH XQG YRP SURJUHVVLYHQ 9HUVWXPPHQ $EHU VFKOLHOLFK GRFK DOV *HGLFKW JHVWDOWHW VR GD QXQPHKU ZHQQ 3DUHQWKHVH XQG =LWDW DP 6FKOX YHUVWDQGHQ ZXUGHQ GLH SRHWLVFKH *HVWDOW LQ LKUHQ .RQWXUHQ VLFKWEDU ]X ZHUGHQ YHUPRFKWH 1XQ EHGHXWHW GLH ]X HUVW VR UlWVHOKDIWH 6FKOX]HLOH QLFKW PHKU HLQ (QWZHL FKHQ LQV *HVWDOWORVH VRQGHUQ IJW VLFK RUJDQLVFK LQ GLH :HOW GHUHQ %HQHQQXQJ LQ GHU hEHUVFKULIW YROO]R JHQ ZXUGH 7ELQJHQ -lQQHU $QGHUHUVHLWV MHGRFK LVW GLHVH hEHUVFKULIW KDW PDQ GDV *HGLFKW LQ VHLQHU 9LHO VFKLFKWLJNHLW VHLQHP PRELOHQ &KDUDNWHU HLQLJHUPD HQ HUNDQQW QXQ NHLQHVZHJV PHKU VR NRQWXUHQVFKDUI ZLH HV DQIDQJV VFKHLQHQ PRFKWH $XFK KLHU LVW HLQH 8QVFKlUIH5HODWLRQDXIJHWUHWHQ 6SUHFKHQ XQG 9HUVWXPPHQ GHU 'LFKWHU (LQ ]ZHLWHV SRHWLVFKHV *HELOGH PDJ ZHLWHUKHOIHQ 'DV 7ELQJHQ JHGLFKW 3DXO &HODQV HQWVWDQG YHUPXWOLFK ]X %HJLQQ GHV -DKUHV (V VWHKW LQ VHLQHP *HGLFKWEDQG 'LH 1LHPDQGVURVH GHU HLQ -DKU VSlWHU HUVFKLHQ 'HU *HGLFKWEDQG $SUHVOXGH YRQ *RWWIULHG %HQQ ZDU KHUDXVJHNRPPHQ 'RUW NRQQWH PDQ ]XP HU VWHQPDOGDV*HGLFKW%DX[LWOHVHQ %$8;,7
'LHVH:RFKHZDU]LHPOLFKWHXHU VDJHQZLUYLHUKXQGHUW0DUN DEHUVLHKDWWH]DXEHUKDIWH$XJHQEOLFNH
VXEOLPHLQQHUOLFKHVHLGHQZHLFKH PLW6WU|PHQYRQEHUDXVFKWHU7UDQV]HQGHQ]
,FKEHWUDFKWHRIWPLW,QWHUHVVH GLHUHFKWH+DQGGHU+HUUHQ (VLVWGLH+DQGGLHHU|IIQHW PHLVWHQVORKQWHVVLFKNDXP DEHUGLH)lOOHGHUHQPDQVLFKHULQQHUW VLQGGLH*OFNHGHUWLHIDXIDWPHQGHQ ZHLHQZHLFKHQ.DVWDQLHQEOWH GLHLP0DLXQVVHJQHW
9RQ1HEHQWLVFKHQK|UWPDQRIWª:LU*URVVLVWHQ© ª+HUU.UDIWZDVQW]HQ.XQGHQ GLHGLH6RODZHFKVHOQLFKW]DKOHQ© ª'UHL]HKQ0DUNIQI]LJDOV0RQDWVUDWH© 'LHJDQ]H:HOWLVWYROOYRQVROFKHQ:RUWHQ 'HPJHJHQEHUGLH,QNDVVRVGHV+LPPHOV YHUGHUEOLFKYLHOOHLFKWLQJHZLVVHP6LQQHVWUlIOLFK DEHUPDQODJKHUXPDEJHVFKDEW$XVYHUNDXI ULFKWLJHU9HUVFKOHL XQGQXQIUYLHUKXQGHUW0DUN 4XDGHUULVVH )HOVHQVSUHQJXQJHQ GLH$GHUQOHXFKWHQ SXUHV*ROG %DX[LW HLQHJDQ]H:RFKHZRGHV+LPPHOVª:LU
*URVVLVWHQ©
'LHV VLHKW QXQ IUHLOLFK QLFKW QDFK SRHWLVFKHU 'XQNHO KHLW DXV VRQGHUQ IKUW LQ HLQH 8PZHOW GLH PDQ QXU DOO]X JHQDX ]X NHQQHQ JODXEW %HL &HODQ ZDU LQ DOOHU 9HUVFKOHLHUXQJ GLH 6SUDFKPHORGLH GHV 'LFKWHUV YHU QHKPEDU JHZHVHQ XQG VFKOLHOLFK YHUQRPPHQ ZRU GHQ 'DV ZDU XP DXVJHUHFKQHW HLQHQ /LHEOLQJVDXV GUXFN *RWWIULHG %HQQV ]X ZlKOHQ ªWUXQNHQH )OXW© ,VW %HQQV HLJHQHV %DX[LW*HGLFKW JOHLFKIDOOV HUIOOW YRQ VROFK WUXQNHQHP )OXWHQ" 0DQ ]|JHUW PLW GHU $QWZRUW 'LH KDQGZHUNOLFKH 0DFKDUW JODXEW PDQ ]X NHQQHQ *RWWIULHG %HQQ KDWWH VFKRQ IUK PLW VROFKHQ SRHWLVFKHQ 0RQWDJHQ YRQ $OOWDJVJHVFKZlW] JHDUEHL WHW 6HLQ -HQD*HGLFKW HWZD YRP -DKUH EH JDQQVR ª-HQDYRUXQVLPOLHEOLFKHQ7DOH© VFKULHEPHLQH0XWWHUYRQHLQHU7RXU DXIHLQHU.DUWHYRP8IHUGHU6DDOH VLHZDULQ.RVHQLP6RPPHU]XU.XU
(LQ DQGHUHV VSlWHV *HGLFKW HEHQVR ZLH GLH 9HUVH PLW GHP $EVFKOX ª:LU *URVVLVWHQ© LP -DKUH HQW VWDQGHQ HLQ -DKU DOVR YRU GHP 7RGH *RWWIULHG %HQQV KDWWH GHQ DEHUPDOV DXI &KRSLQ KLQGHXWHQGHQ 7LWHO ,PSURPSWX HUKDOWHQ ZDU GDQQ DEHU JDU QLFKW VHKU FKRSLQPlLJVR,RVJHJDQJHQ ,P5DGLRVDQJHLQHU
ª,QGHU'URVVHOJD]X5GHVKHLP©² LFKZDUHUVFKODJHQ
'HU 0HFKDQLVPXV ZLUG VLFKWEDU 'LH UHGHQVDUWOLFKH %DQDOLWlW HLQHU $QVLFKWVNDUWHQVFKUHLEHULQ GHU 6FKOD JHUWH[W *HUHGH YRQ +DQGHOVPlQQHUQ DP 1HEHQWLVFK DOOHV HLQ]HPHQWLHUW LQ HLQHP O\ULVFKHQ %DXZHUN GDV HEHQ GDGXUFK VHLQH VSH]LILVFKHQ :LUNXQJHQ ]X HU]LH OHQ VXFKW *HVFKZlW] 3KUDVH VFKOHFKWH 3RHVLH DOV %DXPDWHULDO IU HLQ JXWHV *HGLFKW 'DV N|QQWH QDFK EORHU 7HFKQLN DXVVHKHQ XQG KDW QDWUOLFK DXFK PLW LKU ]X WXQ VROO DEHU EHL *RWWIULHG %HLP PHKU EHGHX WHQ (V JHK|UW ]XU 3RHWLN QLFKW DOOHLQ ]XU SRHWLVFKHQ 7HFKQLN +LHU KDW HLQHU JDQ] XQYHUNHQQEDUHUZHLVH DXI GLH 6HOHNWLRQ GHV 0DWHULDOV DXI DOOH (UOHVHQKHLW 3ROLWXU XQG VSUDFKOLFKH %HDUEHLWXQJ YHU]LFKWHW 'LFK WHUVSUDFKH ZLUG QLFKW DOV ªJHKREHQH 6SUDFKH© YHU VWDQGHQ -HJOLFKHV 4XDWVFKHQ WXW ² RIIHQVLFKWOLFK EHVVHUH 'LHQVWH DOV VSUDFKOLFKHV (GHOPDWHULDO 'DV ZDU GHQ QHXHUHQ 'LFKWHUQ OlQJVW YRU %HQQ LQV %H ZXWVHLQ JHNRPPHQ JHQDXVR ZLH OlQJVW YRU &HODQ GLH )UDJZUGLJNHLW GHU 6SUDFKH IU GHQ KHXWLJHQ 'LFKWHU VHKU VFKPHU]KDIW HPSIXQGHQ ZRUGHQ ZDU 0DQ NHQQW +RIPDQQVWKDOV EHUKPWHQ %ULHI GHV /RUG &KDQGRV XQG GDULQ GHQ 6DW] YRQ GHQ :RUWHQ GLH ªLP 0XQGH ZLH PRGULJH 3LO]H ]HUILHOHQ© 9RU %HQQ EHVFKULHE 5LONH LP 0DULHQOHEHQ GLH (QJHO GLH VLFK QLFKW ]X ODVVHQ ZXWHQ YRU ª*HWXH© 'HU hEHUGUX DQ VSUDFKOLFKHU (UOHVHQKHLW GLH QXU DOO]X RIW XQG OHLFKW PLW 3RHVLH YHUZHFKVHOW ]X ZHUGHQ SIOHJWH KDWWH VLFK IUK EHUHLWV LQ XQVHUHP -DKUKXQGHUW DXVJHEUHLWHW $XFK *RWWIULHG %HQQ KDWWH VLFK PlFKWLJ DQJHVWUHQJW LKQ ELV ]XU 8QHUWUlJOLFKNHLW ]X VWHLJHUQ :DU VLFK GLH 'LFKWXQJGHUHXURSlLVFKHQ5RPDQWLNGDULQHLQLJJH
ZHVHQ GLH 3RHVLH VFK|QHU 'LQJH ]X HQWGHFNHQ XQG GXUFK .XQVW ]X HYR]LHUHQ ZDU GDQQ ² LP 9HUODXI HLQHV 3UR]HVVHV GHU GLH PRGHUQH ,QGXVWULHZLUNOLFK NHLW LPPHU KlOLFKHU XQG XQURPDQWLVFKHU ZHUGHQ OLH ² HLQH 3RHVLH NQVWOLFKHU 3DUDGLHVH HLQH 'LFK WXQJ DOVR VHKQVFKWLJHQ (QWZHLFKHQV VFKURIIHU 7UHQ QXQJ YRQ QDWUOLFKHU XQG NQVWOLFKHU 6SKlUH DXIJH WUHWHQ EHL +RIIPDQQ XQG 7KRPDV GH 4XLQFH\ EHL 1HUYDO XQG )ODXEHUW %DXGHODLUH XQG (GJDU $OODQ 3RH VFKOLHOLFK EHL GHQ 6\PEROLVWHQ VR NDP HV QXQ VHLW %HJLQQ XQVHUHV -DKUKXQGHUWV ]X HLQHU 'LFKWXQJ GLH HQGOLFK EHUHLW ZDU GHU +lOLFKNHLW GHP 8QVLQQ XQG *UDXHQ GHU PRGHUQHQ *URVWDGWZHOW VLFK ]X VWHOOHQ +LHU OLHJW QLFKW EOR LQ GHU /LWHUDWXU VRQ GHUQ EHVRQGHUV DXFK LQ GHU ELOGHQGHQ .XQVW GLH JHVFKLFKWOLFKH %HGHXWXQJ GHV GHXWVFKHQ ([SUHVVLRQLV PXV :LU NHQQHQ GLH %LOGHU YRP GHIRUPLHUWHQ DEJHVXQ NHQHQ 0HQVFKHQ JDQ] RKQH HGOH (LQIDOW XQG VWLOOH *U|H 'LH JOHLFK]HLWLJH 'LFKWXQJ ZROOWH QLFKW PHKU ZDKUKDEHQ GD GLH $UPXW ZLH 5LONH GHU GDV VSlWHU VHOEVW ]XUFNQDKP ]X %HJLQQ GHV -DKUKXQGHUWV YHU ]FNW JHIOVWHUW KDWWH HLQ ªVWLOOHU *ODQ] DXV ,QQHQ© ]X VHLQ YHUP|JH %HL (UQVW 6WDGOHU LVW HQGOLFK DXFK LQ GHU 'LFKWXQJ GLH PRGHUQH *URVWDGW PLW (LVHQEDK QHQ XQG %DKQK|IHQ SUlVHQW *HRUJ +H\P JLEW HLQH 'LFKWXQJ GLH VLFK GHU 0HGXVD DXVVHW]WH XQG LKUHU VHLWV GHQ /HVHU XQG %HWUDFKWHU JRUJRQHQKDIW DQ]X EOLFNHQ VXFKW :DVVHUOHLFKHQ 'LHEH ,UUH GDV /HLFKHQ VFKDXKDXV EHL +H\P VLQG VLH ]X QHXHQ 7KHPHQ GHU 'LFKWXQJJHZRUGH QDXFKEHLPMXQJHQ-RKDQQHV
5 %HFKHU DXFK LQ GHU $XVGUXFNVNXQVW GHV IUKHQ %HQQ 0DQQ XQG )UDX JHKQ GXUFK GLH .UHEVEDUDFNH (LQ EHUKPWHU *HGLFKWWLWHO %HQQV YRP -DKUH ª0DQFKPDO ZlVFKW VLH GLH 6FKZHVWHU :LH PDQ %lQNH ZlVFKW +LHU VFKZLOOW GHU $FNHU VFKRQ XP MHGHV %HWW© 6SUW PDQ WURW]GHP QLFKW LQ DOOHU +lUWH GHU %HQHQ QXQJ 3DWKRV XQG 7UDXHU GHV 'LFKWHUV EHU GLHVH %H GLQJXQJHQ GHV 0HQVFKVHLQV" %HLP VSlWHQ %HQQ LP 9HUODXI HLQHU (QWZLFNOXQJ GLH QLFKW %HQQ DOOHLQ GXUFK]XPDFKHQ KDWWH VRQGHUQ GLH DXFK LKQ XQG VHLQH 'LFKWXQJ WUDQVIRUPLHUHQ VROOWH ZLUG GHU .RQWUDVW ]ZLVFKHQ HLQHU SRHWLVFK JDQ] XQHUJLHELJ JHZRUGHQHQ 5HDOLWlW XQG GHP GLFKWHULVFKHQ $XVGUXFNV]ZDQJ GHU WURW]GHP DXV VHLQHP (UOHEHQ VR HWZDV ZLH 'LFKWXQJ GHVWLOOLHUHQ P|FKWH GDGXUFK JHO|VW GD HEHQ GLHVHU .RQWUDVW VHOEVW GLFKWHULVFK ]XU 6SUDFKH JHEUDFKW ZLUG 'DV NDOWH (QWVHW]HQ JHVXQGHU %HVXFKHU LQ HLQHU .UHEVEDUDFNH NRQQWH XQPLWWHOEDU LQ 'LFKWXQJ XP JHVHW]W ZHUGHQ YRUDXVJHVHW]W PDQ KDEH VLFK JlQ] OLFK IUHL JHPDFKW YRQ HLQHU bVWKHWLN GHU ªVFK|QHQ 'LQJH© 'DV *HUHGH DP 1HEHQWLVFK GDJHJHQ PLW ª:LU *URVVLVWHQ© RGHU ª'UHL]HKQ 0DUN IQI]LJ DOV 0RQDWVUDWH© ERW VLFK QLFKW RKQH ZHLWHUHV ]XU 8PVHW ]XQJDQ %HQQ DUEHLWHW DOVR PLW GHU .RQIURQWLHUXQJ GHU EHL GHQ 7LVFKH PLW ]ZHLHUOHL 'HQN XQG 6SUHFKZHLVHQ +LHU GHU HLQVDPH 'LFKWHU PLW VHLQHQ (ULQQHUXQJHQ DQ GLH ]XOHW]W GXUFKOHEWH :RFKH GRUW QHEHQDQ GLH *URVVLVWHQ $XFK DP 'LFKWHUWLVFK EHJLQQW GLH 6SUDFKH LP $OOWDJVSDUODQGR XP VLFK VRJOHLFK DEHU GHV JHVDP WHQ%HQQ5HVHUYRLUVDQ(LJHQVFKDIWVZ|UWHUQ]XEH
GLHQHQ ]DXEHUKDIW VXEOLP LQQHUOLFK VHLGHQZHLFK VFKOLHOLFK ªEHUDXVFKWH 7UDQV]HQGHQ]© (LQ MlKHV $XIIOLHJHQ $EHU GHU 3HJDVXV EOHLEW QLFKW REHQ 6R JOHLFK GHU %OLFN KLQEHU ]XP 1HEHQWLVFK QHXH 5FN NHKU ]X VLFK VHOEVW ]XU GLFKWHULVFK HUJLHELJHQ :RFKH QHXHU $XIIOXJ ª'LH *OFNH GHU WLHIDXIDWPHQGHQ ZHLHQ ZHLFKHQ .DVWDQLHQEOWH© -HW]W NRPPW GDV 6SUHFKHQ DP 1HEHQWLVFK ]XP GLFKWHULVFKHQ (LQVDW] (V ZLUG PLEUDXFKW LQV 3RHWLVFKH GHIRUPLHUW VRJDU ]X HLQHP PHUNZUGLJHQ VSUDFKOLFKHQ $PDOJDP JH ]ZXQJHQ %HLP QHXHQ 9HUJOHLFK GHU HLJHQHQ 'LFKWHU ZRFKH PLW MHQHU GHU *URVVLVWHQ IlOOW GDV :RUW YRQ GHQª,QNDVVRVGHV+LPPHOV© -HW]W HUVW ZLUG GHU 7LWHO %DX[LW IU GHQ SRHWLVFKHQ 3UR]H KHUDQJH]RJHQ DOOHLQ HV ]HLJWH VLFK GD HU VHLW GHU HUVWHQ =HLOH JHPHLQW ZDU %DX[LW LVW XP /H[L NRQZHLVKHLW DXV]XEUHLWHQ ªQDFK GHP HUVWHQ )XQG RUW /HV %DX[ LQ 6GIUDQNUHLFK EHQDQQW HLQ PHLVW GXUFK VWDUNH %HLPLVFKXQJ JHIlUEWHV YRUZLHJHQG UR WHV 0LQHUDO HLQ 7RQHUGHK\GUDW© *RWWIULHG %HQQ YHUZHQGHW VHLQ %DX[LW LQ GRSSHOWHU :HLVH HLQPDO NUHLVHQ GDUXP RIIHQEDU GLH *HVSUlFKH GHU *URVVLVWHQ HV VFKHLQW VLFK XP %DXIDFKOHXWH YLHOOHLFKW DXFK XP 6SH]LDOLVWHQ IU $OXPLQLXPKHUVWHOOXQJ ]X KDQGHOQ $OOHLQ DXFK GHU 'LFKWHU DQ VHLQHP 7LVFK KDW VHLQ %DX [LW LQ HLQHU SURGXNWLYHQ MHGRFK QLFKW HEHQ ELOOLJHQ :RFKHYLHUKXQGHUW0DUN JHZLQQHQN|QQHQ XQGQXQIUYLHUKXQGHUW0DUN 4XDGHUULVVH )HOVHQVSUHQJXQJHQ
GLH$GHUQOHXFKWHQ SXUHV*ROG %DX[LW
6R GD GLH EHLGHQ 6FKOXZRUWH GHV *HGLFKWV DP (QGH GHU OHW]WHQ =HLOH HLQHQ GRSSHOWHQ 6LQQ HUKDOWHQ KD EHQª:LU*URVVLVWHQ© 'DV LVW HLQ =LWDW DXFK DOV =LWDW DQJHNQGLJW =LWLHUWH 5HGH YRP 7LVFK QHEHQDQ ,QGHVVHQ LVW DXFK GHU PR QRORJLVLHUHQGH 'LFKWHU DQ VHLQHP 7LVFK JHPHLQW ª:LU *URVVLVWHQ© KHLW GLHVPDO ZLU 3RHWHQ PLW XQVHUHU $UWGHU%DX[LWJHZLQQXQJ %HL 3DXO &HODQ ZDU LP 7ELQJHQJHGLFKW GDV KLHU QD WUOLFK IU YLHOH *HELOGH YRQ l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ªVFKUHLWHW© GD PDQ QLFKW PHKU ªZHLOW© ² HV VHL GHQQ GDV /RNDOEOlWWFKHQ KDEH ]X EHULFKWHQ GHU EH UKPWH.DPPHUVlQJHUªZHLOHLQXQVHUHU6WDGW©²
GD GLH URPDQWLVFKH 3RHVLH GHU VFK|QHQ 'LQJH OlQJVW YRQ GHQ 5HLVHSURVSHNWHQ XQG GHQ 6SUHFKHUQ GHV :HUEHIXQNV EHVFKODJQDKPW ZXUGH PX VLFK GLH GLFKWHULVFKH 6SUDFKH XQVHUHV *HVHOOVFKDIWV]XVWDQGV QRWJHGUXQJHQ PLW GHQ /HEHQV XQG 6SUHFKIRUPHQ XQ VHUHV $OOWDJV DEILQGHQ 'DV JHVFKLHKW DXI PDQFKHUOHL :HLVH YHUVFKLHGHQ MH QDFK 6SUDFKH XQG /DQGVFKDIW QDWLRQDOHU 7UDGLWLRQ XQG GLFKWHULVFKHU (LJHQDUW %HL *RWWIULHG %HLP ZLUG PLW GHP .RQWUDVW ]ZLVFKHQ $OO WDJVJHVFKZlW] XQG GHQ 'HVWLOODWLRQHQ JHDUEHLWHW GLH VLFK LP ªJH]HLFKQHWHQ ,FK© GHV 'LFKWHUV YROO]LHKHQ 'LH (LQDNWHU GHV IUKHQ ORQHVFR DOVR GLH 6DFKHQ PLW GHQ 6WKOHQ PLW GHU .DKOHQ 6lQJHULQ RGHU GHU 8Q WHUULFKWVVWXQGH VLQG DXVGUFNOLFK DXIJHEDXW DOV .RQ IURQWDWLRQHQ PLW OHHUODXIHQGHP $OOWDJVJHUHGH GDV VLFK EHLP WUDGLWLRQHOOHQ 5HLFKWXP GHU IUDQ]|VLVFKHQ 6SUDFKH DQ VWHUHRW\SHQ 3KUDVHQ IU DOOH /HEHQVYHU KlOWQLVVH LQ )UDQNUHLFK XQG GDPLW LQ GHU IUDQ ]|VLVFKHQ /LWHUDWXU EHVRQGHUV JQVWLJ SUDNWL]LHUHQ OlW ,P HSLVFKHQ %HUHLFK ZDU GHU LULVFKH 8O\VVHV GHV -DPHV -R\FH JOHLFKIDOOV HEHQ GRUW JHODQGHW ZR GHU PRGHUQH 'LFKWHU JHQ|WLJW LVW GLH $OOWDJVVSUDFKH ZDOWHQ ]X ODV VHQ RKQH GHQ OHLVHVWHQ 9HUVXFK ]X PDFKHQ VLH HLQ]X GlPPHQ ]X GLULJLHUHQ :RUWVHOHNWLRQHQ DQ LKU YRU ]XQHKPHQ 'HU 5LHVHQPRQRORJ GHU 0UV %ORRP ZRU LQ GHU 8O\VVHV VFKOLHOLFK YHUOlXIW LVW ]ZDU LQQHUHU 0RQRORJ LQVRIHUQ DOV KLHU EOR HLQ %HZXWVHLQV VWURP YRUEHU]X]LHKHQ VFKHLQW DOOHLQ HU ZLUG QDWU OLFK DUWLNXOLHUW WULWW DXFK EHL GHU GDOLHJHQGHQ )UDX LQ HLQHUKDOEDUWLNXOLHUWHQ)RUPDXIZRULQVLFK(PSILQ
GQJHQ %LOGHU YRU DOOHP DEHU VHOEVWlQGLJ JHZRUGHQH 3DUWLNHO GHU $OOWDJVVSUDFKH ]XVDPPHQJHIXQGHQ KD EHQ *DQ] DP 6FKOX GHV :HUNV HUKlOW GDQQ EHL -R\FH GHU 0RQRORJ QRFK HLQPDO HLQH QHXH VSUDFKOLFKH 'L PHQVLRQ QLFKW QXU GDGXUFK GD 0UV %ORRP PLW 3UHGLJWUHPLQLV]HQ]HQ YRP ª7DO GHU 7UlQHQ© EH VFKlIWLJW LVW RGHU ZROOVWLJ HLQ ELFKHQ PLW GHU %LO GXQJ KHUXPVSLHOW VRQGHUQ GD XQYHUVHKHQV GHU 'LFKWHU LKU %HZXWVHLQ XQG GDPLW LKU 6SUHFKHQ OHQNW XQG ZHJIKUW DXV 'XEOLQ EHUKDXSW DXV ,U ODQG EHUKDXSW DXV GHU :HOW GHV 1RUGHQV XP ² QXU GXUFK 0LWWHO GHU 6SUDFKH ² GHQ 8O\VVHV VFKOLHOLFK ZLHGHU DOV 2G\VVHXV ]X SUlVHQWLHUHQ XQG 0UV %ORRP DOVVHLQHDUFKHW\SLVFKH3HQHORSH
'HU /\ULNHU *RWWIULHG %HQQ GHU 'UDPDWLNHU (XJHQH ORQHVFR XQG GHU (SLNHU -DPHV -R\FH 'UHL %HLVSLHOH XQG 3URWDJRQLVWHQ IU HLQH QHXH QLFKW PHKU DXI VSUDFKOLFKH 6HOHNWLRQ JHULFKWHWH 7lWLJNHLW 'D DXFK 3DXO &HODQ PLW VHLQHU SRHWLVFKHQ 3UD[LV GHV JHVWDOWH WHQ 9HUVWXPPHQV LP *HGLFKW HLQ]XVWHKHQ KDW IU HLQH JHQHUHOOH $UEHLWVZHLVH PRGHUQHU 'LFKWHU EUDXFKW ZRKO QLFKW HLJHQV HULQQHUW ]X ZHUGHQ )RUPXOLHUW ZXUGHQ GLHVH =ZHLIHO DQ GHU 7DXJOLFKNHLW XQVHUHU 6SUDFKH GLH QHXHQ DXINRPPHQGHQ :LUNOLFKNHLWHQ DGlTXDW ZLHGHU]XJHEHQ VFKRQ VHLW %HJLQQ GHV -DKU KXQGHUWV 6HLW HWZD HUOHEWHQ ZLU LPPHU ZLHGHU LQ DOOHQ *DWWXQJHQ GDV HEHQVR NKQH ZLH YHU]ZHL IHOWH 8QWHUIDQJHQ GLHVH 6SUDFKORVLJNHLW XQG PLW LKU GHQ lVWKHWLVFKHQ =ZHLIHO DQ GHU KHUN|PPOLFKHQ 7HFK QLN GHV 6FKULIWVWHOOHUV ]XP 7KHPD YRQ :HUNHQ GHU VFK|QHQ/LWHUDWXU]XPDFKHQ+XJRYRQ+RIPDQQV
WKDO OLHIHUWH QLFKW EOR LP &KDQGRV%ULHI HLQH 'LD JQRVH GLHVHV =XVWDQGV VRQGHUQ JDE DXFK QDFK GHP (UVWHQ :HOWNULHJ ² LQ VHLQHU .RP|GLH 'HU 6FKZLHULJH HLQH GLFKWHULVFKH *HVWDOWXQJ LQ )RUP HLQHV *HVHOO VFKDIWVOXVWVSLHOV GHVVHQ JHKHLPHV 7KHPD GLH .RP| GLH YRQ GHU 'LVNUHSDQ] ]ZLVFKHQ 6SUDFKH XQG 6DFKH ]X VHLQ KDWWH :REHL 7LHIH XQG 5HLFKWXP GLHVHV 0HL VWHUZHUNV YHUNDQQW ZHUGHQ HUEOLFNW PDQ KLHU EOR HLQH .RP|GLH GHV 9HUVWXPPHQV GHU 6SUDFKH EHLP *UDIHQ %KO XQG GHU .RPWHVVH +HOHQH .RQWUDSXQN WLVFK QlPOLFK JHJHQ GLHVH .RP|GLH GHV 9HUVWXPPHQV VHW]WH +RIPDQQVWKDO HLQH .RP|GLH GHV UHGHQVDUW OLFKHQ OHHUHQ XQG KRFKJHVWRFKHQHQ 6SUHFKHQV 0DQ GHQNH DQ GLH .RQWUDVWILJXU GHV QRUGGHXWVFKHQ %DURQV 1HXKRII 6WLPPW HV QXQ DEHU ZRIU VLFK GRNXPHQ WDULVFKH $QKDOWVSXQNWH ILQGHQ ODVVHQ GD +RIPDQQV WKDO LQ GHU ZHLWJHKHQG VDWLULVFK JHKDOWHQHQ )LJXU GHV %DURQV 1HXKRII VHLQ MDKU]HKQWHDOWHV 8QEHKDJHQ DQ 6WHIDQ *HRUJH DE]XUHDJLHUHQ ZXWH GDQQ NRQWUDVWLH UHQ LP 6FKZLHULJHQ QLFKW EOR GLH 9HUKDOWHQVZHLVHQ GHV 6FKZlW]HUV XQG GHV 6WDPPOHUV VRQGHUQ DXFK ZHQLJVWHQV QDFK 0HLQXQJ +RIPDQQVWKDOV GLH 3RH WLNHQ GHV 6FK|QVFKZlW]HUV XQG NDOOLJUDSKLVFKHQ 'LFK WHUV GHU QLFKWV DKQW YRQ GHQ $EJUQGHQ PRGHUQHU 'LFKWHUVSUDFKH XQG GHV ZLUNOLFK ]HLWJHPlHQ QlP OLFK JHJHQ GDV 9HUVWXPPHQ DQNlPSIHQGHQ .QVW OHUV ,P 5RPDQ GHV -DKUKXQGHUWV DXFK GLHV NDQQ EOR DQJHGHXWHW ZHUGHQ SUlVHQWLHUW VLFK GHU JOHLFKH =XVWDQG LQ )RUP YRQ HSLVFKHQ *HELOGHQ GLH GHQ =ZHLIHODQGHU=XOlQJOLFKNHLWLKUHV%HJLQQHQV]XP
*HJHQVWDQG LKUHU $UEHLW PDFKHQ $QGUH *LGHV )DOVFKPQ]HU GLH DXIJHEDXW ZDUHQ DXI GHP *HJHQ VDW] ]ZLVFKHQ URPDQKDIWHP 0DWHULDO XQG IUDJZUGL JHU *HVWDOWXQJVFKDQFH IKUWHQ HLQ LQWHUQDWLRQDOHV %DWDLOORQ YRQ :HUNHQ DQ ZRULQ LPPHU ZLHGHU 6FKULIWVWHOOHU DOV 5RPDQKHOGHQ QHXHQ 6WLOV DXIWUDWHQ GLH LKUH 6SUDFK XQG *HVWDOWXQJVSUREOHPH YRU GHP /HVHU DXVEUHLWHWHQ GLH *UHQ]HQ ]ZLVFKHQ (SLN XQG (VVD\ EHUVFKULWWHQ GLH 8QP|JOLFKNHLW GHV KHU N|PPOLFKHQ 5RPDQVFKUHLEHQV ]X GHPRQVWULHUHQ VXFKWHQ (V VHL QXU XP HLQ %HLVSLHO DXV GHU OHW]WHQ =HLW ]X QHQQHQ DQ GHQ +HUU 0HLVWHU YRQ :DOWHU -HQV HULQQHUW $XFK KLHU YHUELQGHW VLFK ZLH LP *HGLFKW GLH 3UREOHPDWLN GHV DOOWlJOLFKHQ 6SUHFKHQV PLW MHQHU GHV 9HUVWXPPHQV (LQHV GHU HKUJHL]LJVWHQ *HELOGH HLQHU VROFKHQ 6\QWKHVH DXV 6SUHFKHQ XQG 9HUVWXP PHQ GDV VLFK IROJHULFKWLJHUZHLVH DEHUPDOV HLQHQ 'LFK WHU ]XP +HOGHQ Zl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lJWGHQ7LWHO:HLWHUXQJ
:(,7(581*
ZHUVROOGDQRFKDXIWDXFKHQDXVGHUIOXW ZHQQZLUGDULQXQWHUJHKHQ" QRFKHLQSDDUIRUWVFKULWWH XQGZLUZHUGHQZHLWHUVHKHQ ZHUVROOGDXQVUHUJHGHQNHQ PLWQDFKVLHKW" GDVZLUGVLFKILQGHQ ZHQQHVHUVWVRZHLWLVW XQGVRIRUWDQ ELVDXIZHLWHUHV
XQGRKQHZHLWHUHV VRZHLWHUXQGVR ZHLWHUQLFKWV
NHLQHQDFKJHERUHQHQ NHLQHQDFKVLHKW QLFKWVZHLWHU
%HLP HUVWHQ +LQVFKDXHQ PX GLHV *HGLFKW JDQ] XQ YHUVWlQGOLFK ZLUNHQ 0DQFKHU ZUGH VLFK UDVFK GDPLW WU|VWHQ KLHU VHL ZLHGHU HLQPDO HLQ SRHWLVFKHV =XVDP PHQVHW]VSLHOJHWULHEHQZRUGHQZREHLGLHHLQ]HOQHQ
:HQGXQJHQ ZHLWHU QLFKWV QLFKWV ZHLWHU ELV DXI ZHLWHUHV RKQH ZHLWHUHV ² DXVHLQDQGHUJHQRPPHQ XQG LQ VFKUXOOLJHU :HLVH QHX ]XVDPPHQJHVHW]W ZRUGHQ VHLHQ HLQ 6SLHO PLW GHP :|UWFKHQ ªZHLWHU© ZRIU DXFK GHU 7LWHO :HLWHUXQJ VSUHFKHQ P|FKWH $EHU GD VLQG DQGHUH %HVWDQGWHLOH GHV *HGLFKWV GLH EHL HLQHU VROFKHQ IRUPDOHQ ² 'HXWXQJ QLFKW DXIJHKHQ ªDXI WDXFKHQ DXV GHU IOXW QDFKJHERUHQH XQWHUJHKHQ XQV UHU JHGHQNHQ PLW QDFKVLFKW© (V EOLHEH EHLP 9HUVXFK HLQHU ,QWHUSUHWDWLRQ GLH QLFKW VHKU ZHLW IKUW 'DV *HGLFKW WUlJW RIIHQEDU HLQ *HKHLPQLV LQ VLFK GHP HV DXI GLH 6SXU ]X NRPPHQ JLOW 'LH +DOWXQJ GHV ,QWHU SUHWHQ ZLUG DEHU VRJOHLFK XQG JUQGOLFK YHUlQGHUW HULQQHUW HU VLFK GD HV HLQ EHUKPWHV *HGLFKW %HUWROW %UHFKWV JLEW HQWVWDQGHQ JHJHQ (QGH GHU GUHLLJHU -DKUHLP([LOZRULQIROJHQGH=HLOHQVWHKHQ ,KUGLHLKUDXIWDXFKHQZHUGHWDXVGHU)OXW LQGHUZLUXQWHUJHJDQJHQVLQG JHGHQNW ZHQQLKUYRQXQVHUHQ6FKZlFKHQVSUHFKW DXFKGHUILQVWHUHQ=HLW GHULKUHQWURQQHQVHLG 8QG]XP6FKOX
,KUDEHUZHQQHVVRZHLWVHLQZLUG GDGHU0HQVFKGHP0HQVFKHQHLQ+HOIHULVW JHGHQNWXQVUHU PLW1DFKVLFKW
'D (Q]HQVEHUJHU GLHV *HGLFKW NHQQW XQG PHLQW LVW HYLGHQW DXFK ZHQQ PDQ QLFKW ZWH GD HU JOHLFK VDP SURJUDPPDWLVFK VHLQH $QWKRORJLH 0XVHXP GHU PRGHUQHQ 3RHVLH LQ GLHVHV %UHFKW*HGLFKW DXVNOLQJHQ OlW 1XQ IUHLOLFK VWHOOW VLFK GHU 7LWHO :HLWHUXQJ QLFKW DOV :RUWVSLHO VRQGHUQ DOV H[WUHP VLQQEHKDIWHW GDU 'LHV KLHU LVW HLQ *HJHQJHGLFKW ]X %UHFKWV SRHWLVFKHP $QUXI $Q GLH 1DFKJHERUHQHQ *HVFKULHEHQ DXV GHU 'LVWDQ] HLQHV 9LHUWHOMDKUKXQGHUWV HLQHV -QJHUVHLQV HLQHV GLYHUJLHUHQGHQ /HEHQVODXIV ª:HLWHUXQJ© KHLW DOVR1DFKGHQNHQEHU%UHFKWV=XNXQIWVYLVLRQ %HL%UHFKW
'DV=LHO ODJLQJURHU)HUQH (VZDUGHXWOLFKVLFKWEDUZHQQDXFKIUPLFK NDXP]XHUUHLFKHQ %HL(Q]HQVEHUJHU
GDVZLUGVLFKILQGHQ ZHQQHVHUVWVRZHLWLVW XQG NHLQHQDFKJHERUHQHQ NHLQHQDFKVLHKW QLFKWVZHLWHU
1LFKW HLQPDO HLQ 3XQNW DOV $EVFKOX 0DQ OHEW GD KLQ DOOHV OlXIW ZHLWHU ELV ]XP $XJHQEOLFN GD VLFK GDV IU%UHFKWQRFKVRGHXWOLFKVLFKWEDUH=LHODOV:RONHQ
6SLHJHOXQJ KHUDXVJHVWHOOW KDW 'DULQ HEHQ EHVWHKW EHL (Q]HQVEHUJHUGLH:HLWHUXQJ $XFK GDULQ EULJHQV GD KLHU PLW GHP SRHWLVFKHQ 0DWHULDO HLQHV DQGHUHQ ZHLWHUJHGLFKWHW ZLUG :HLWH UXQJ KHLW DOVR HLQPDO ZHLWHUWUHLEHQ ]XP DQGHUHQ IROJHUQ EHL hEHUSUIXQJ GHV QHXHQ QDFKEUHFKWLVFKHQ 6DFKYHUKDOWV XQG VFKOLHOLFK ZHLWHUGLFKWHQ PLW +LOIHYRQDQGHUHU'LFKWXQJ +LHU LVW DEHUPDOV HLQ ZHVHQWOLFKHV 0HUNPDO GHU PR GHUQHQ 3RHVLH ]XWDJH JHWUHWHQ LKU DOH[DQGULQLVFKHU %HVWDQGWHLO :HLW GDYRQ HQWIHUQW QlPOLFK GHQ .XOW GHU 2ULJLQDOJHQLHV LP 6LQQH XQVHUHU 6WUPHU XQG 'UlQJHU ZHLWHUWUHLEHQ ]X ZROOHQ VFKHLQHQ GLH PR GHUQHQ 3RHWHQ LQ DOOHU :HOW VHLW %HJLQQ XQVHUHV -DKU KXQGHUWV GHPRQVWUDWLY EHVWUHEW ]X VHLQ GDV (SLJR QDOH 6SlW]HLWOLFKH XQG GXUFK %LOGXQJ 9HUPLWWHOWH LKUHU 7lWLJNHLW DOV 6FKULIWVWHOOHU KHUYRU]XKHEHQ 'DV N|QQWH QDFK HUNOlUWHP 7UDGLWLRQDOLVPXV DXVVHKHQ XQG WXW HV DXFK LQ HLQLJHQ )lOOHQ HWZD EHL 7 6 (OLRW ,P DOOJHPHLQHQ DEHU lXHUW VLFK LQ VROFKHP 7UHLEHQ QLFKW GLH )UHXGH DQ JURHU XQG DXFK ZHQLJHU JURHU hEHUOLHIHUXQJ VRQGHUQ 6NHSVLV ZR QLFKW 9HU]ZHLI OXQJ DP SRHWLVFKHQ 7XQ 'LHVH %LOGXQJVGLFKWXQJ GLH EHUDOO HQWVWHKW :|UWHU DXV 6SUDFKHQ DOOHU $UW LQ HLQHQ 7H[W HLQPRQWLHUW YRP /HVHU GDV 9HUVWlQGQLV VHOWHQHU $QVSLHOXQJHQ DXV *HVFKLFKWH 0\WKRORJLH XQG /LWHUDWXU YHUODQJW JHOHJHQWOLFK JDU GD]X EHU JHKW HLQ *HGLFKW PLW .RPPHQWDUHQ ]X YHUVHKHQ DOV KDQGOH HV VLFK XP HLQHQ JHOHKUWHQ 7H[W KDW DEHUPDOV YLHOPLWGHP9HUVWXPPHQ]XWXQ'DV%HNHQQWQLV
]XP (SLJRQHQWXP LVW JOHLFK]HLWLJ HLQ +LQZHLV GDU DXI GD GLH XUVSUQJOLFKH 'LFKWXQJ GHU 6WUPHU XQG 'UlQJHU RGHU 5RPDQWLNHU ]X VFKZHU LP *UXQGH XQ P|JOLFK JHZRUGHQ VHL 'LFKWHQ HUVFKHLQW GDQQ QLFKW PHKU DOV HLQ QHXHV 6HKHQ VRQGHUQ DOV HLQ .RSLHUHQ XQG GLFKWHULVFKHV ,QWHUSUHWLHUHQ YRQ GHP ZDV HLQVW PDOV RULJLQDO JHZHVHQ VHLQ PRFKWH (Q]HQVEHUJHU LVW KLHU QXU HLQ %HLVSLHO XQWHU ]DKOORVHQ 'LH (SLJRQHQKDOWXQJ KDW GDEHL JDU QLFKWV YRQ %H VFKHLGHQKHLW DQ VLFK .DUO .UDXV VFKULHE EHUHLWV VHLQ KRFKPWLJHV *HGLFKW %HNHQQWQLV QLHGHU GDV VR VFKOR ª%LQ (SLJRQH $KQHQZHUWKHV $KQHU ,KU DEHU VHLG GLH NXQGLJHQ 7KHEDQHU© 0HKU DOV +RFK PXW QRFK QlPOLFK E|VDUWLJH +\EULV PDQLIHVWLHUW VLFK EHL (]UD 3RXQG LQ VHLQHQ DXV %LOGXQJVHOHPHQWHQ HQJ OLVFKHU 'LFKWHUVSUDFKH =LWDWHQ DXV 6SUDFKHQ DOOHU $UW XQG DPHULNDQLVFKHP 6ODQJ PRQWLHUWHQ &DQWRV +LHU JHElUGHW VLFK GDV (SLJRQHQWXP LQ SHLQOLFKHU :HLVH HOLWHKDIW XQG DJJUHVVLY 6R HQWVWHKW DQ GHQ 7H[WHQ ZlUH HV DE]XOHVHQ DXFK ZHQQ PDQ QLFKWV ZWH YRP /HEHQ XQG 7XQ GLHVHV 'LFKWHUV QLFKW WUDGLWLRQVJH EXQGHQH RGHU NRQVHUYDWLYH VRQGHUQ ªWRWDOLWlUH© /L WHUDWXU (V NDQQ DXFK PLW lKQOLFKHU 'LFKWXQJVWHFKQLN NRP PXQLVWLVFKH 'LFKWXQJ HQWVWHKHQ ZLH EHL GHP &KLOH QHQ 3DEOR 1HUXGD RGHU GHP )UDQ]RVHQ $UDJRQ $EHU LQ GLHVHQ EHLGHQ )lOOHQ LVW GLH ODWHLQLVFKH 7UD GLWLRQ YRQ GHU 3RXQG VR YLHO :HVHQV PDFKW ZHLO VLH LKP IHKOW VWDUN JHQXJ GLH %LOGXQJVWUDGLWLRQ PLW GHU JHVHOOVFKDIWOLFKHQ 9LVLRQ ]XP SRHWLVFKHQ (LQNODQJ ]X EULQJHQZLHLQ1HUXGDV(OHPHQWDUHQ2GHQRGHULQ
$UDJRQV JURHP /LHEHV XQG /HEHQVJHGLFKW /H IRX G (OVD 'UHL (OHPHQWH PRGHUQHU 'LFKWXQJ GLH HLQ GUHLIDFKHV 9HUKlOWQLV ]XU 6SUDFKH RIIHQEDUWHQ ZXUGHQ EHQDQQW *HGLFKWH GHV 9HUVWXPPHQV GLFKWHULVFK YHUDUEHLWHWHV $OOWDJVVFKZDW]HQ 'LFKWXQJ PLW +LOIH YRQ YRUJH SUlJWHU 'LFKWXQJ 'LH GUHL (OHPHQWH VLQG EHL QDKH]X DOOHQ .QVWOHUQ XQVHUHU 7DJH JOHLFK]HLWLJ LP 6SLHO %LOGXQJ GHU 6SlW]HLW KDW PLW GHU $QJVW YRU GHP 9HU VWXPPHQ GHU 'LFKWHU XQG DXFK GHU 0HQVFKKHLW ² ]X WXQ $OOWDJVJHZlVFK OlW GHQ $EVWDQG XQG GLH (LQ VDPNHLW GHV PRGHUQHQ 3RHWHQ ]XU VRJHQDQQWHQ :LUN OLFKNHLW EHVWU]HQG GHXWOLFK ZHUGHQ 9HUVDJHQ GHU 6SUDFKH HQGOLFK VFKOLHW GLH (UNHQQWQLV LQ VLFK GD HV HLQPDO =HLWHQ JDE ZR VLH QLFKW YHUVDJW KDWWH hEHUDOO DEHU ² XQG GLHV ZlUH ]XJXQVWHQ GLHVHU ªEHVRUJWHQ© 3RHVLH DQ]XPHUNHQ ² ZR 'LFKWHU YHUVXFKWHQ RKQH %LOGXQJ XQG (UNHQQWQLV RKQH 6RUJH XQG EHZXWH $QQlKHUXQJ DQ GLH GUDXIORVVFKZDW]HQGH 0LWPHQVFK KHLW VR ZHLWHU]XGLFKWHQ DOV N|QQWHQ VLH KHXWH QRFK VLQJHQ ZLH GHU 9RJHO VLQJW GHU LQ GHQ /IWHQ ZRK QHW HQWVWDQG ZHGHU 3RHVLH QRFK GHPRQVWULHUWH VLFK GDULQ GDV EHUFKWLJWH 3RVLWLYH 'DQQ ZXUGH HLQIDFK SRHWLVFKH /JH HU]HXJW 0DQ KDW LQ VROFKHQ )lOOHQ GDQQ ]ZDU LPPHU QRFK GLH (UOHVHQKHLW GHU 6SUDFKH XQG 2EMHNWH GLH 5LONH7HFKQLN ]XU 9HUIJXQJ HLQH OHHUODXIHQGH +\PQLN GHU :KLWPDQ(SLJRQLN DEHU HV VWLPPW QLFKWV PHKU QLFKW PHKU LQ GHU 6SUDFKH XQG QLFKW PHKU LQ GHU 6DFKH 0DQ P|FKWH 1DPHQ K|UHQ" ,Q GHU 'LFKWXQJ GHV VSlWHQ &DURVVD ]XP ([HPSHO RGHUGHVVSlWHQ%HFKHU
)UDJW PDQ ZDUXP GLH PHUNZUGLJHQ 7H[WH GHV ,UHQ 6DPXHO %HFNHWW GLH NHLQH 5RPDQH VLQG XQG NHLQH 7KHDWHUVWFNH LP DOWHQ 6WLO GHVVHQ *HGLFKWH ZHQLJ ]X WXQ KDEHQ PLW GHP ZDV PDQ HKHPDOV XQWHU HLQHP O\ULVFKHQ *HELOGH YHUVWDQG LQ KRKHP 0DH IDV]LQLH UHQ XQG JHUDGH GLH MXQJH *HQHUDWLRQ YRQ KHXWH WLHI EHVFKlIWLJHQ VR VFKHLQW GLH $QWZRUW GDULQ ]X OLHJHQ GD %HFNHWW LQ HLQHU )ROJHULFKWLJNHLW RKQHJOHLFKHQ PLW HLQHP (UQVW GHQ NHLQ DQGHUHU DXIEUDFKWH GLHVH GUHL (OHPHQWH XQG 7KHPHQ GHU PRGHUQHQ 3RHVLH ]X HLQHU GXUFKDXV QHXHQ 6\QWKHVH ]X YHUDUEHLWHQ LP VWDQGH ZDU GDV 9HUVDJHQ YRQ 6SUDFKH XQG *HLVW GDV JUlOLFKH 6FKZDW]HQ LQ HLQHP 8PNUHLV ZR DOOHV OlQJVW YHUVWXPPW LVW %LOGXQJVEDOODVW GHU VLFK LQ GHU )RUP GHV %LOGXQJVJHVFKZlW]HV HLQHV VSUDFKOLFKJHL VWLJHQ $XIVWRHQV lXHUW 'DV QlPOLFK YROO]LHKW VLFK ZHQQ LQ :DUWHQ DXI *RGRW GHU/XFN\ DXI .RPPDQGR ªGHQNW© 2GHU ZHQQ .UDSS VHLQ OHW]WHV %DQG DEVSX OHQ OlW XQG VLFK PLW HLQHU 9HUJDQJHQKHLW YRU GUHLLJ -DKUHQ NRQIURQWLHUW GD VFKHLQEDU QRFK $XVVLFKW DXI *OFN EHVWDQG ª$EHU LFK ZQVFKH VLH QLFKW ]XUFN© *DQ] ]X VFKZHLJHQ YRQ GHQ *OFNOLFKHQ 7DJHQ GHU :LQQLH GLH ELV ]XP +DOVH YRP 6DQG EHGHFNW LVW GHQ .RSI QLFKW PHKU ]X ZHQGHQ YHUPDJ VLFK MHGRFK LP PHU QRFK HLQ /HEH QVGHVWLOODW ]X EUDXHQ YHUVWHKW ª-D GDV VLQG JOFNOLFKH 7DJH ZHQQ HV *HUlXVFKH JLEW© (V JLEW DXFK *OFNOLFKVHLQ LP $XJHQEOLFN GHV (QGVSLHOV VRJDU *HVDQJ XQG %HFNHWW OlW VHLQH :LQ QLH VFKOLHOLFK ]XU 6SLHOXKU LKUHQ *HVDQJ DQVWLPPHQ (V EOHLEW DOVR LQ GLHVHP 3DUDEHOVSLHO YRP 0HQVFKHQ XQG.QVWOHUHLQHUJHVHOOVFKDIWOLFKHQ6SlW]HLWLP
PHU QRFK GLH 0|JOLFKNHLW IU *HVlQJH XQG *HVDQJ :LQQLH VLQJW XQG VFKDXW JOFNOLFK GUHLQ 'LH XQVWHUE OLFKHQ 9HUV]HLOHQ QDFK GHQHQ VLH LPPHU ZLHGHU JH VXFKW KDWWH IDOOHQ LKU QLFKW PHKU HLQ VLQG LQV 9HUJHV VHQ HQWJOLWWHQ $EHU MHW]W VLQJW VLH 'LH 6SUDFKH ELHWHW VLFK LPPHU QRFK GDU GHQQ QRFK UDJW GHU .RSI KHUYRU DXV GHU 6DQG PDVVH 1RFK NHL Q 9HUVWXPPH Q DOVR 1RFK *HVDQJ 1RFK 7UDGLWLRQ )UHLOLFK VLQJW :LQQLH HLQHQ :DO]HU DXV GHU /XVWLJHQ :LWZH 9HUVWHKW PDQ GHQ $XVNODQJ GLHVHU ]ZHL $NWH YRQ 6DPXHO %HFNHWW VR ZLH HU JHPHLQW LVW DOV HLQ 3DUDEHOVSLHO EHU /HEHQ XQG *HLVW HLQHU VSlWHQ 0HQVFKHQHSRFKH VR VSULFKW HU QHEHQ YLHOHP DQGHUHQ DXFK HLQH 0HLQXQJ DXV EHU 6SUHFKHQXQG9HUVWXPPHQGHU'LFKWHU
)HOL[.UXOOXQG2VNDU 0DW]HUDWK $VSHNWHGHV5RPDQV ª0DQ NDQQ HLQH *HVFKLFKWH LQ GHU 0LWWH EHJLQQHQ XQG YRUZlUWV ZLH UFNZlUWV NKQ DXVVFKUHLWHQG 9HU ZLUUXQJ DQVWLIWHQ 0DQ NDQQ VLFK PRGHUQ JHEHQ DOOH =HLWHQ (QWIHUQXQJHQ ZHJVWUHLFKHQ XQG KLQWHUKHU YHUNQGHQ RGHU YHUNQGHQ ODVVHQ PDQ KDEH HQGOLFK XQG LQ OHW]WHU 6WXQGH GDV 5DXP=HLW3UREOHP JHO|VW 0DQ NDQQ DXFK JDQ] ]X $QIDQJ EHKDXSWHQ HV VHL KHXW]XWDJH XQP|JOLFK HLQHQ 5RPDQ ]X VFKUHLEHQ GDQQ DEHU VR]XVDJHQ KLQWHU GHP HLJHQHQ 5FNHQ HLQHQ NUlIWLJHQ .QOOHU KLQOHJHQ XP VFKOLHOLFK DOV OHW]WP|JOLFKHU 5RPDQVFKUHLEHU GD]XVWHKQ $XFK KDEH LFK PLU VDJHQ ODVVHQ GD HV VLFK JXW XQG EHVFKHLGHQ DXVQLPPW ZHQQ PDQ DQIDQJV EHWHXHUW (V JLEW NHLQH 5RPDQKHOGHQ PHKU ZHLO HV NHLQH ,QGLYLGXDOLVWHQ JLEW ZHLO GLH ,QGLYLGXDOLWlW YHUORUHQ JHJDQJHQ ZHLO GHU 0HQVFK HLQVDP MHGHU 0HQVFK JOHLFK HLQVDP RKQH 5HFKW DXI LQGLYLGXHOOH (LQVDPNHLW LVW XQG HLQH QD PHQ XQG KHOGHQORVH HLQVDPH 0DVVH ELOGHW© (V KDQGHOW VLFK KLHU RIIHQEDU ZLH GHV 6SUHFKHUV LURQL VFKH 'LVWDQ] DQ]XGHXWHQ VFKHLQW XP HLQHQ PRGHUQHQ %HLWUDJ ]X EHOLHEWHQ 5XQGIXQN RGHU 3RGLXPVGLV NXVVLRQHQ EHU GLH 3UREOHPDWLN GHV PRGHUQHQ 5R PDQV XQG 6FKZLHULJNHLWHQ KHXWLJHU 6FKULIWVWHOOHU EHLP (U]lKOHQ 'HU 5HGQHU GHQQ GHU UKHWRULVFKH 7RQIDOO LVW XQYHUNHQQEDU ² KlOW HUVLFKWOLFK QLFKW DOO]X YLHO YRQHLQHU.ULVHGHV5RPDQVXQGGHUPRGLVFKHQ6LWWH
JU|HUH (U]lKOXQJHQ GHP /HVHUNUHLV LQ YHUGLQJOLFK WHU )RUP RKQH +HOGHQ DOVR XQG *HJHQVSLHOHU ]X SUlVHQWLHUHQ 1RFK ZHQLJHU LVW HU EHUHLW WKHRUHWLVFKH 'HEDWWHQ EHU GDV 5RPDQVFKUHLEHQ DOV 5RPDQ QHXHQ 7\SV DQ]XELHWHQ JOHLFKVDP DOVR ªVWDWW HLQHV 5R PDQV© RGHU DOV ª5RPDQ HLQHV 5RPDQV© 'HU ªJHORFNHUWH© 7RQIDOO DEHU LVW WUJHULVFK XQG HV KDQGHOW VLFK DXFK JDU QLFKW XP 6lW]H DXV HLQHP 6\P SRVLRQ ,P 7H[W JHKW HV IROJHQGHUPDH Q ZHLWHU ª'DV PDJ DOOHV VR VHLQ XQG VHLQH 5LFKWLJNHLW KDEHQ )U PLFK 2VNDU XQG PHLQHQ 3IOHJHU %UXQR P|FKWH LFK MHGRFK IHVWVWHOOHQ :LU EHLGH VLQG +HOGHQ JDQ] YHUVFKLHGHQH +HOGHQ HU KLQWHU GHP *XFNORFK LFK YRU GHP *XFNORFK XQG ZHQQ HU GLH 7U DXIPDFKW VLQG ZLU EHLGH EHL DOOHU )UHXQGVFKDIW XQG (LQVDPNHLW QRFK LPPHU NHLQH QDPHQ XQG KHOGHQORVH 0DVVH© (UVWHV .DSLWHO DOVR GHU %OHFKWURPPHO 2VNDU 0DW]H UDWK H[SRQLHUW VHLQH 6LWXDWLRQ LQ GHU +HLO XQG 3IOH JHDQVWDOW VWHOOW GHQ )UHXQG XQG 3IOHJHU %UXQR YRU ]HLJW VLFK YRU]JOLFK XQWHUULFKWHW EHU GLH HSLVFKHQ 6FKZLHULJNHLWHQ XQG SRHWRORJLVFKHQ 'LVNXVVLRQHQ EH]LHKW YRU LKQHQ DEHU GLH 3RVLWLRQ GHV NRQVHUYDWL YHQ (U]lKOHUV DOWHU 6FKXOH 'HU %OHFKWURPPOHU PLW KLQ DOV 3DUWLVDQ GHVVHQ ZDV 3HWHU +DQGNH PLW DOOHQ $Q]HLFKHQ WLHIHQ (NHOV DOV GLH 3RVLWLRQ GHV ªKDQG IHVWHQ (U]lKOHQV© ]X GLVNULPLQLHUHQ SIOHJW 'LH LURQLVFKH 9HUZLUUXQJ LVW DXI GHP +|KHSXQNW *QWHU *UDVV KDW JHUDGH EHJRQQHQ HLQH *HVFKLFKWH ]X HU]lKOHQ GHUHQ H[]HQWULVFKH $XVJDQJVVLWXDWLRQ QXU PLW .DINDV 9HUZDQGOXQJ RGHU 6WUDINRORQLH YHU JOLFKHQZHUGHQNDQQ*OHLFKGDUDXIZLUGZHQQGLH
OLWHUDWXUWKHRUHWLVFKH (LQOHLWXQJ XQG ([SRVLWLRQ GHU 5DKPHQJHVFKLFKWH DEVROYLHUW ZXUGH GLH =HXJXQJ GHU NQIWLJHQ $QQD 0DW]HUDWK XQWHU GHQ 5|FNHQ GHU $QQD %URQVNL EHULFKWHW ,QGHP GHU 9HUIDVVHU GHU %OHFKWURPPHO GXUFK GHQ VFKUHLEHQGHQ 2VNDU GDV 3ULQ ]LS HLQHU HU]lKOHULVFKHQ +HUN|PPOLFKNHLW YHUNQ GH Q X QG D EH UP DOV GXU FK 2V NDU ² GD V * HU HGH YRQ GHU 5RPDQNULVH DOV 6SLQWLVLHUHUHL DEWXQ OlW EH ZHLVW HU LP *HJHQWHLO ZLH EHUHFKWLJW MHQH 9RUEHKDOWH JHJHQ GDV KHUN|PPOLFKH (U]lKOHQ VLQG PLW GHQHQ GHU ]ZHUJKDIWH $XWRELRJUDSK XQG (SLNHU 2VNDU 0DW]HUDWK VR ZHQLJ 8PVWlQGH PDFKW )U 2VNDU LVW 2VNDU HLQ +HOG XQG 3IOHJHU %UXQR LVW DXFK HLQHU ,QGLYLGXDOLWlWHQ LP JXWHQ DOWHQ 6LQQ ,P 6WXUP XQG 'UDQJ KlWWH PDQ ZRKO YRQ LKQHQ DOV YRQ ª2ULJLQDOJHQLHV© JHVSURFKHQ (LQ 5RPDQKHOG DEHU PX VR ZLOO HV GLH 7UDGLWLRQ GHU HSLVFKHQ :DKU VFKHLQOLFKNHLW HQWVSUHFKHQ 0DJ PDQ KLHU YRQ ªLQQH UHU :DKUKHLW© UHGHQ RGHU GLH 9RNDEHO YRP 5HDOLV PXV EHPKHQ ZR YRQ 5RPDQKHOGHQ GLH 5HGH LVW ZLUG QDFK GHQ 3ULQ]LSLHQ GHU 0LPHVLV JHDUEHLWHW GHU 1DFKDKPXQJ YRQ /HEHQVYRUJlQJHQ LQ GHU .XQVW :LUG PDQ DEHU VDJHQ N|QQHQ GLH *HVFKLFKWH 2VNDUV VDPW (OWHUQ XQG *URHOWHUQ VHL QDFK GLHVHQ PLPHWL VFKHQ *UXQGVlW]HQ NRPSRQLHUW" =ZHLIHO PHOGHQ VLFK VRJOHLFK EHL GHU /HNWUH 'DV LVW YRQ *UDVV EHDEVLFK WLJW JHK|UW ]X VHLQHQ *HVWDOWXQJVPLWWHOQ 6FKHLQEDU IOLHW DOOHV LP EUHLWHQ %HWW GHU HSLVFKHQ 7UDGLWLRQ 0DQ KDW KlXILJ EHKDXSWHW LQ GHU %OHFKWURPPHO VHL HLQ PHUNZUGLJHV XQG UHL]YROOHV $PDOJDP HQWVWDQ GHQDXVHLQHP%LOGXQJVURPDQPHLQHWKDOEHQHLQHP
0LELOGXQJVURPDQ XQG HLQHP 6FKHOPHQURPDQ GHU SLFDUHVNHQ h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² MH QDFKGHP ² KDW EHPLWOHLGHW RGHU YHUKlWVFKHOW (U VHOEVW IRUPXOLHUW HLQPDO DQ GHQ /HVHU VLFK ZHQGHQG ª1LH KDW HLQ 0HQVFK ² ZHQQ 6LH EHUHLW VLQG LQ PLU HLQHQ 0HQVFKHQ ]X VHKHQ HLQ HQW WlXVFKHQGHUHV :HLKQDFKWVIHVW HUOHEW DOV 2VNDU© )U 2VNDU ZLHGHUXP LVW GLH *HVHOOVFKDIW EORHV 2EMHNW GHU %HWUDFKWXQJ 6LH ZLUG LKP ]XP 9RUZDQG QHXHV %HZXWVHLQ LQ VLFK ]X HQWGHFNHQ XQG KHUDXI]XKROHQ .HLQ .RQIOLNW ]ZLVFKHQ 2VNDU XQG GHU )DPLOLH 'LHV LVW HLQH 5HODWLRQ RKQH =RUQ XQG 7UDXHU 'HQ PXW PDOLFKHQ 9DWHU $OIUHG 0DW]HUDWK QHQQW HU DOV VDFK OLFKHU (U]lKOHU HLQIDFK 0DW]HUDWK hEHU GHQ 7RG GHU 0XWWHU VFKUHLEW HU ª,FK NRQQWH QLFKW ZHLQHQ GD DOO GLH DQGHUHQ GLH 0lQQHU XQG GLH *URPXWWHU +HG ZLJ %URQVNL XQG GHU EDOG YLHU]HKQMlKULJH 6WHSKDQ ZHLQWHQ©
$EHU GDV LVW NHLQ 9RUJDQJ GHV XQWHUGUFNWHQ *H IKOV DXV 9RUVDW] XQG .RQVWHOODWLRQ 2VNDU KDW NHLQH JHPHLQVDPHQ (PSILQGXQJHQ PLW GHQ EULJHQ 0HQ VFKHQ 'D GHU 5RPDQ LQ GHU OHW]WHQ 3KDVH LP =HL FKHQ GHV 5LQJILQJHUSUR]HVVHV GLH +DXSWILJXU LQ $Q IHFKWXQJHQ GXUFK *HEHW 6LQQOLFKNHLW =XWUDXOLFKNHLW YHUVWULFNW VWHOOW NHLQH =XUFNQDKPH GHU .RQ]HSWLRQ GDU VRQGHUQ HKHU HLQHQ 0DQJHO DQ )ROJHULFKWLJNHLW EHLP (U]lKOHU GHP SO|W]OLFK GLH (SLVRGHQ ZLFKWLJHU JHZRUGHQ VLQG DOV GLH .RQWXUHQ VHLQHU =HQWUDOJH VWDOW 2VNDUV EHUKHEOLFKHU 6HOEVWHLQVFKlW]XQJ LVW JOHLFKIDOOV QLFKW ]X WUDXHQ 0LW VHLQHP 6HOEVWEHZXW VHLQ LVW HV QLFKW JDQ] JHKHXHU (U VLHKW VLFK ]XPHLVW JHQDX VR YHUGLQJOLFKW XQG REMHNWKDIW ZLH DOOH EUL JHQ ,PPHU ZLHGHU ZHFKVHOW HU EHLP (U]lKOHQ YRQ GHU ,FK(U]lKOXQJ ]XP ª%HULFKW EHU 2VNDU© (U VFKLOGHUW 2VNDUV *HVFKLFKWH DOV VFKHLQEDU XQSDUWHL LVFKHU +LVWRULNHU VR ZLH -XOLXV &lVDU EHU VLFK DOV &lVDU]XVFKUHLEHQSIOHJWH (LQ %LOGXQJVURPDQ VHW]W YRUDXV GD lXHUH (UHLJ QLVVH VLFK LQ YHUXUVDFKHQGH )DNWRUHQ EHLP $XIEDX HLQHV &KDUDNWHUV YHUZDQGHOQ 1LFKWV GDYRQ EHL 2V NDU 0DW]HUDWK (U ZDQGHOW VLFK QLFKW $XIK|UHQ GHV :DFKVWXPV XQG J|QQHUKDIWH 7ROHULHUXQJ HLQHU NOHL QHQ :DFKVWXPVUDWH VLQG QLFKW YHUXUVDFKW GXUFK (U IDKUXQJHQ PLW GHU *HVHOOVFKDIW RGHU 5HDNWLRQHQ DXI VLH 2VNDU QLPPW VLFK %HVWDQGWHLOH GHV 6R]LDOHQ YHU GDQNW DEHU GHU *HVHOOVFKDIW QLFKWV (U YHUKlOW VLFK ]X LKU ZLH HLQ )UHLEHXWHU XQG 3LUDW QLFKW ZLH HLQ ]RRQ SROLWLNRQ 'D HV VLFK DOV QRWZHQGLJ HUZHLVW GDV /HVHQ XQGGDV6FKUHLEHQ]XOHUQHQYHUZDQGHOWHU*UHWFKHQ
6FKHIIOHU LQ VHLQ /HKUREMHNW 6LH PX LKP DEHU EOR GHQ :HJ ]X 5DVSXWLQ XQG *RHWKH HUVFKOLHHQ DOOHV DQGHUH ZLUG LP 9HUIDKUHQ GHU 6HOEVWKLOIH JHOHLVWHW (LQ %LOGXQJVURPDQ SIOHJW DQGHUV DXV]XVHKHQ 2VNDU 0DW]HUDWK DOV IHQVWHUORVH 0RQDGH $OV 6HOEVW KHOIHU GHU GLH *HVHOOVFKDIW EOR DOV 2EMHNW EHWUDFK WHW 2VNDU 0DW]HUDWK XP GLH JUDXVDPH .DSLWHO EHUVFKULIW GHV 6FKOXEHULFKWV DXV GHP HUVWHQ %XFK DQNOLQJHQ ]X ODVVHQ ² RKQH ª*ODXEH +RIIQXQJ /LH EH© 0DQ VLHKW GHU 9HUVXFK GHV 5RPDQLQWHUSUHWHQ GLH 7KHVHQ GHV 3RHWRORJHQ 0DW]HUDWK HUQVW ]X QHK PHQ XQG LKQ DOV +HOGHQ HLQHV NRQYHQWLRQHOOHQ %H ULFKWV ]X YHUVWHKHQ ZLUG GXUFK GHQ %HULFKW VHOEVW YRQ *UXQG DXI ZLGHUOHJW 2VNDU LVW ZHGHU HLQ +HOG QRFK HLQH 5RPDQILJXU LP 6LQQH GHU YRQ LKP VHOEVW DOV 1RUP JHVHW]WHQ HSLVFKHQ 7UDGLWLRQ 'DV :HVHQWOLFKH GHV %XFKHV ZLUG YHUIHKOW ZHQQ PDQ VLFK GDPLW DE PKW LQGHP PDQ DXI 2VNDUV 7KHVHQ KHUHLQIlOOW GHQ 5RPDQ DOV ªKDQGIHVWHQ© HSLVFKHQ %HULFKW YHUVWH KHQ]XZROOHQ 'DV LVW GLH %OHFKWURPPHO QLFKW XQG 2VNDU LVW DXFK NHLQH ,QGLYLGXDOLWlW LP 6LQQH YRQ 7RP -RQHV |GHU 0DGDPH %RYDU\ DXFK QLFKW HLQHV /HRSROG %ORRP XQG %DURQ GH &KDUOXV 2VNDU LVW HLQH .XQVWILJXU LQ HLQHP GXUFKDXV QHXHQ XQG IROJHQUHLFKHQ 6LQQH 6HLQH ([LVWHQ] LP 5RPDQ LVW HLQ DUWLVWLVFKHU 9RUJDQJ GHU VLFK VR ZHLW ZLH P|JOLFK HQWIHUQW KlOW YRQ GHU 9RU WlXVFKXQJ LUJHQGZHOFKHU ª1DWXU© 'LH ,QJUHGLHQ]LHQ GLHVHU .XQVWILJXU NRPPHQ QDFK XQG QDFK ]XP 9RU VFKHLQ 2VNDU LVW YRU DOOHP %HZXWVHLQ GDV PLW HLQHP0LQLPXPDQ.|USHUOLFKNHLWDXV]XNRPPHQ
YHUPDJ GDIU DEHU EHUHLWV LP 0XWWHUOHLE HUVW UHFKW YRP $XJHQEOLFN GHU *HEXUW DQ HLQH KRKH 5HIOH[LRQV VWXIH GHPRQVWULHUW 'DV %HZXWVHLQ JHGHQNW VLFK VR ZHQLJ ZLH P|JOLFK ]X HQWlXHUQ :lKUHQG 2VNDU VHLQH SUl]LVH 6WUDWHJLH YHUIROJW XP PLW +LOIH HLQHV %LOGHUEXFKHV EHU 5DVSXWLQ GDV /HVHQ ]X OHUQHQ VSLHOW HU *UHWFKHQ 6FKHIIOHU NLQGLVFKHV /DOOHQ YRU XQWHUKlOW VLFK DEHU PLW GHP /LOLSXWDQHU XQG 0XVLFDO FORZQ %HEUD LQ HLQHU IRUPYROOHQGHWHQ HWZDV DOWHU WPOLFKHQ GHXWVFKHQ 6SUHFKZHLVH 'LH %OHFKWURPPHO6SUDFKH LVW HLQH .XQVWVSUDFKH GLH 2VNDU HUOHUQW XQG SHUIHNWLRQLHUW ZHLO VLH LKP JOHLFK ]HLWLJ HUODXEW GDV %HZXWVHLQ ]X DUWLNXOLHUHQ XQG GRFK DXI .RPPXQLNDWLRQ PLW +LOIH GHU 6SUDFKH ]X YHU]LFKWHQ 5HLQHV %HZXWVHLQ IDVW RKQH .|USHUOLFK NHLW 'LH %OHFKWURPPHO6SUDFKH DOV *HJHQSRVLWLRQ ]XP PHQVFKOLFKHQ 6SUHFKHQ 'HU 7URPPHO EHUDXEW JHUlW 2VNDU VWHWV LQ *HIDKU HUZDFKVHQ ]X ZHUGHQ XQG ]XP PHQVFKOLFKHQ 6SUHFKHQ EHUJHKHQ ]X PV VHQ (U ZHL GDV XQG VFKUHLEW ª:LH VROOWH 2VNDU DXI GLH 'DXHU VHLQ GUHLMlKULJHV *HVLFKW EHZDKUHQ N|Q QHQ ZHQQ HV LKP DP 1RWZHQGLJVWHQ DQ VHLQHU 7URPPHO IHKOWH"© (QGOLFK GDV =HUVLQJHQ YRQ *ODV DOV )RUP HLQHU 'HVWUXNWLRQ RKQH YHUXUVDFKHQGH (PS ILQGXQJ 'HU 5RPDQYHUODXI ]HLJW ZLH GLHVH JURWHVNH *DEH GHV NOHLQHQ 2VNDU QXU LQ GHQ $QIlQJHQ DOV 0LWWHO GHU 9HUWHLGLJXQJ HLQJHVHW]W ZLUG GDQQ DOV GDV HLQHU JHIKOVPlLJ PRWLYLHUWHQ $JJUHVVLRQ XP VFKOLHOLFK GLH )RUP GHU UHLQHQ $UWLVWLN DQ]XQHKPHQ HLQHU ]ZHFNIUHLHQ DOVR lVWKHWLVFK HLQZDQGIUHLHQ =HU VW|UXQJVKDQGOXQJ
$Q GLHVHU 6WHOOH GHU $QDO\VH HUVFKHLQW HV QRWZHQGLJ GHQ $XWRU *QWHU *UDVV HLQ]XEH]LHKHQ DXI GHU 'L VWDQ] DOVR ]ZLVFKHQ 2VNDU XQG VHLQHP $XWRU ]X EH VWHKHQ (V LVW GLH )UDJH QDFK GHU )XQNWLRQ GHU .XQVW ILJXU 2VNDU 0DW]HUDWK 'D 2VNDU NHLQH (PRWLRQHQ KDW YRQ NOHLQHQ 1HUYHQNULVHQ XQG 6LQQOLFKNHLWVDQ IlOOHQ DEJHVHKHQ VRQGHUQ UHLQHV %HZXWVHLQ EOHLEHQ P|FKWH RKQH .RPPXQLNDWLRQ PLW GHP 6R]LDOHQ PX DQJHQRPPHQ ZHUGHQ GD *UDVV PLW +LOIH GHV DQ JHEOLFKHQ +HOGHQ GHU ZHGHU ]XP %LOGXQJVURPDQ WDXJW QRFK ]XP 6FKHOPHQURPDQ HLQH EHVRQGHUH JH VHOOVFKDIWOLFKH .RQVWHOODWLRQ GDU]XVWHOOHQ YHUVXFKW 'LH .XQVWILJXU 2VNDU LVW ]XQlFKVW HLQPDO ZLFKWLJ DOV HLQ 6WDQGRUW XQG 6WDQGSXQNW 8QWHUKDOE QlPOLFK GHU PHQVFKOLFKHQ 1RUPDOGLPHQVLRQHQ 2VNDU VLHKW YRQ DOOHP QXU GLH 8QWHUVHLWH (U LVW GHU *QRP GDV 5XP SHOVWLO]FKHQ GHU 0LWZLVVHU GHQ PDQ QLFKW VLHKW RGHU DKQW 6R HQWJHKW HU XQG PLW LKP VHLQ $XWRU GHQ 6FKZLHULJNHLWHQ HLQHV UHDOLVWLVFKHQ (U]lKOHUV DOWHQ 6WLOV ZHOFKHU GDV 7UHLEHQ VHLQHU *HVWDOWHQ VWHWV QXU VR GDUVWHOOHQ NRQQWH ZLH HV GLH EUHLWH gIIHQWOLFKNHLW ]X VHKHQ YHUPRFKWH 'DUXP GLH YLHOHQ *DVWKDXV XQG *DVWPDKOV]HQHQ LQ GHQ DOWHQ 5RPDQHQ YRQ )LHOGLQJ ELV ]X GHQ %XGGHQEURRNV 'LH HSLVFKH 5HDOLWlW DOV JH VHOOVFKDIWOLFKHV 9HUKDOWHQ LQ GHU $XHQZHOW ZR DOOH 5RPDQILJXUHQ YROOVWlQGLJ EHNOHLGHW XQG DOV 0LWJOLH GHU GHU *HVHOOVFKDIW JH]HLJW ZHUGHQ PXWHQ 'D GHU (U]lKOHU YRUJDE EHL DOOHQ EHULFKWHWHQ 9RUJlQJHQ DQ ZHVHQG ]X VHLQ ZDU HV QXU IROJHULFKWLJ ZHQQ HU 6]H QHQ DXVVSDUWH EHL ZHOFKHQ VHLQH $QZHVHQKHLW XQ VFKLFNOLFKJHZHVHQZlUH0DUFHO3URXVWKDWXQWHUGLH
VHU 6SLHOUHJHO VFKZHU JHOLWWHQ (LQPDO PXWH HU LQ GHU 6XFKH QDFK GHU YHUORUHQHQ =HLW JHZLVVH 9RUJlQJH VFKLOGHUQ GLH VHLQ (U]lKOHU 0DUFHO LP 5RPDQ QLFKW VHOEVW HUOHEW KDEHQ NRQQWH 3URXVW EHKDOI VLFK GDPLW GD HU GHP MXQJHQ 0DUFHO GLHVH 'LQJH GXUFK HLQH lO WHUH 5RPDQJHVWDOW EHULFKWHQ OLH 'DQQ DEHU ZDUHQ JOHLFK ]X %HJLQQ YRQ 6RGRP XQG *RPRUUKD HLQLJH 6]HQHQ ]ZLVFKHQ &KDUOXV XQG 3DUWQHU ]X VFKLOGHUQ GLH LKUHU 1DWXU QDFK NHLQHQ =HXJHQ ]XOLHHQ 3URXVW PDFKWH GLHVPDO VHLQHQ %HULFKWHUVWDWWHU 0DUFHO ]XP KHLPOLFKHQ /DXVFKHU XQG 6FKOVVHOORFKJXFNHU $QGHUHUVHLWV YHUODQJW GLH ,FK(U]lKOXQJ GXUFK 2VNDU 0DW]HUDWK GD 2VNDU ZLUNOLFK PLWHUOHEWH ZDV HU EHVFKUHLEW 'D]X KLOIW LKP VHLQH +HLQ]HOPlQQFKHQ JHVWDOW 1XQ NDQQ GLH 8QWHUVHLWH HLQHU )DPLOLH HLQHU 6WDGW HLQHU .OHLQEUJHUVFKLFKW LQ HLQHU :HLVH EH VFKULHEHQ ZHUGHQ ZLH VLH HLQHP QRUPDOHQ *LO %ODV RGHU )LJDUR QLFKW P|JOLFK JHZHVHQ ZlUH 'LH )XQN WLRQ GHV %OHFKWURPPOHUV IU *QWHU *UDVV LVW HYL GHQW VLH HUODXEW HLQH 'DUVWHOOXQJ GHV E|VHQ %OLFNV GHU 'LVWDQ] GHU +LQWHU XQG 8QWHUJUQGH 1RFK HLQHV ZLUG GDGXUFK HUUHLFKW 'D 2VNDU GDV 'D VHLQ HLQHU 0RQDGH XQG .XQVWILJXU IKUW LVW HU VHOEVW YHUVWlQGOLFK IUHL YRQ DOOHQ WDEXLVWLVFKHQ 9RUXUWHLOHQ GHU *HVHOOVFKDIW *OHLFK ZHLW HQWIHUQW YRQ 6FKDPKDI WLJNHLW ZLH YRP ODVWHUKDIWHQ =\QLVPXV +LHU ZLUG HU NHQQEDU GD *QWHU *UDVV LQ GHU %OHFKWURPPHO PLW +LOIH VHLQHU JURWHVNHQ .XQVWILJXU GHQ VDWLULVFKHQ 5RPDQ HLQHV PRGHUQHQ $XINOlUHUV VFKULHE 2VNDUV 'DVHLQ LP 'DQ]LJHU 9RUNULHJ ZLH LP 'VVHOGRUIHU 1DFKNULHJVSLHOWVLFKZLHGDV9HUKDOWHQHLQHVPRGHU
QHQ *XOOLYHU DE ZREHL QLFKW DXVJHPDFKW EOHLEW RE HU VLFK DOV =ZHUJ EHL 5LHVHQ EHILQGHW RGHU VHOEVW GHP %HZXWVHLQ QDFK HLQHQ 5LHVHQ GDUVWHOOW LQPLWWHQ YRQ JHLVWLJ XQHQWZLFNHOWHQ =ZHUJHQ :HQQ PDQ GDKHU YRQ 7UDGLWLRQ LP HUVWHQ JURHQ 5RPDQ YRQ *UDVV VSUHFKHQ ZLOO VR GUlQJW VLFK ZDV GLH )RUP EHWULIIW ZHLW HKHU GLH (ULQQHUXQJ DQ /DXUHQFH 6WHUQH DXI DQ -HDQ 3DXO DQ ( 7 $ +RIIPDQQ 0DQ GHQNW EHL 2V NDUV %HULFKW EHU =HXJXQJVYRUJDQJ XQG *HEXUW DQ GLH HQWVSUHFKHQGHQ 3DUWLHQ DXV /HEHQ XQG 0 HLQXQ JHQ GHV 7ULVWUDP 6KDQG\ 2VNDUV .|USHUOLFKNHLW JH PDKQW DQ .OHLQ =DFKHV JHQDQQW =LQQREHU EHL +RII PDQQ *UDVV OLHEW VHLQHQ 6WHUQH XQG VHLQHQ +RII PDQQ 'HP 5RPDQW\S QDFK JHK|UW GLH %OHFKWURPPHO DOVR QLFKW ]XU UHDOLVWLVFKHQ .RQYHQWLRQ GHU SLFDUHV NHQ RGHU SlGDJRJLVFKHQ :DQGOXQJVURPDQH VRQGHUQ ]XU VDWLULVFKHQ $XINOlUXQJVJDWWXQJ HLQHV 6ZLIW 9RO WDLUH RGHU 'LGHURW (V HQWVSULFKW GXUFKDXV GHU 7UDGL WLRQ MHQHU KXPRULVWLVFKVDWLULVFKHQ 5RPDQH ZHQQ GHU (U]lKOHU GHU HLJHQWOLFKH 5RPDQYHUIDVVHU DOVR HLQ JHKHLPHV (LQYHUVWl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
(U OLHJW DXI 6DVSH LP ]ZHLWHQ %XFK LQ VRQGHUEDUHU :HLVH ª6RHEHQ ODV LFK GHQ ]XOHW]W JHVFKULHEHQHQ $E VDW] QRFK HLQPDO GXUFK :HQQ LFK DXFK QLFKW ]XIULH GHQ ELQ VROOWH HV XP VR PHKU 2VNDUV )HGHU VHLQ GHQQ LKU LVW HV JHOXQJHQ NQDSS ]XVDPPHQIDVVHQG GDQQ XQG ZDQQ LP 6LQQH HLQHU EHZXW NQDSS ]XVDPPHQ IDVVHQGHQ $EKDQGOXQJ ]X EHUWUHLEHQ ZHQQ QLFKW ]X OJHQ ,FK P|FKWH MHGRFK EHL GHU :DKUKHLW EOHLEHQ 2VNDUV )HGHU LQ GHQ 5FNHQ IDOOHQ XQG KLHU EHULFKWL JHQ GD HUVWHQV -DQV OHW]WHV 6SLHO GDV HU OHLGHU QLFKW ]X (QGH VSLHOHQ XQG JHZLQQHQ NRQQWH NHLQ *UDQG KDQG VRQGHUQ HLQ .DUR RKQH =ZHLQ ZDU GD ]ZHL WHQV 2VNDU EHLP 9HUODVVHQ GHU %ULHINDPPHU QLFKW QXU GDV QHXH 7URPPHOEOHFK VRQGHUQ DXFK GDV JHERU VWHQH GDV PLW GHP WRWHQ 0DQQ RKQH +RVHQWUlJHU XQG GHQ %ULHIHQ DXV GHP :lVFKHNRUE JHIDOOHQ ZDU DQVLFKQDKP© $OO GLHV LVW K|FKVW ]ZHLGHXWLJ IRUPXOLHUW 0DQ NDQQ VLFK PLW GHU (UNOlUXQJ ]XIULHGHQJHEHQ 2VNDU VHOEVW IJH KLHU HLQH %HULFKWLJXQJ DQ GLH PLW GHP *HVWlQG QLV VHLQHU 6FKXOG DQ GHU (UPRUGXQJ GHV HLJHQHQ 9D WHUV HQGHW %HNDQQWOLFK ZHFKVHOW 2VNDU LPPHU ZLHGHU YRP ,FK%HULFKW ]XP %HULFKW EHU 2VNDU +LHU MHGRFK PHLQW GDV ,FK GHV (U]lKOHQGHQ SO|W]OLFK HLQ DQGHUHV 6XEMHNW GHQ (U]lKOHU *QWHU *UDVV 'HU $XWRU EH ULFKWLJW GHQ %HULFKWHUVWDWWHU 2VNDU 0DW]HUDWK $OOHLQ GDV LVW QXU HLQ $XJHQEOLFN GHUHQ JLEW HV QRFK HLQLJH LQ GHU *HVFKLFKWH GDQQ VFKOLHW VLFK GLH 5RPDQIRUP DXIV QHXH GDV ,FK GHV (U]lKOHUV ZLUG ZLHGHU ]XP (JRGHVNOHLQHQ%OHFKWURPPOHUV *UDVVZHQGHWKLHUHLQHQW\SLVFKHQ.XQVWJULIIGHUKX
PRULVWLVFKHQ 5RPDQWUDGLWLRQ DQ 'LH )RUPHQ GHU *URWHVNH XQG GHU 6DWLUH GHU ,URQLH XQG GHV +XPRUV YHUODQJHQ 'LVWDQ] ODVVHQ QLHPDOV ]X GD GHU (U]lK OHU JDQ] VLFK DQ GDV (U]lKOWH YHUOLHUH 1XU HLQ 5R PDQW\S GHU VR JHUQ IXQNWLRQVORV VHLQ P|FKWH RKQH HV ZHUGHQ ]X N|QQHQ ZLH EHL )ODXEHUW ZLUG GDQDFK VWUHEHQ GLH *HVFKLFKWH DOOHLQ XQG QLFKWV DOV GLH *H VFKLFKWH ]X SUlVHQWLHUHQ JOHLFKVDP HLQH (U]lKOXQJ RKQH (U]lKOHU (LQ IXQNWLRQDO DQJHOHJWHU 5RPDQ DEHU ZLH GLH %OHFKWURPPHO EUDXFKW GDV =XVDPPHQ VSLHO ]ZLVFKHQ (U]lKOHU XQG /HVHU PHLVW PLW +LOIH HLQHU ILQJLHUWHQ (U]lKOHUILJXU RIW DXFK LP *HJHQVDW] ]XLKU 1LFKW ZHVHQWOLFK DQGHUV JHKW HV ]X LQ 7KRPDV 0DQQV $OWHUVZHUN ª:HU DOVR OlXWHW GLH *ORFNHQ 5RPV"© OLHVW PDQ JOHLFK ]X %HJLQQ GHV 5RPDQV 'HU (UZlKOWH XP GLH YHUEOIIHQGH $QWZRUW ]X HUKDOWHQ ª'HU *HLVW GHU (U]lKOXQJ© 'HU 6DW] LVW EHL 7KRPDV 0DQQ VRJDU QRFK NXUVLY JHVHW]W :HQLJH 6HLWHQ GDUDXI ZLUG GHP /HVHU GHU VRQGHUEDUH 9RUJDQJ HUOlXWHUW ª,Q GHP GHU *HLVW GHU (U]lKOXQJ VLFK ]X PHLQHU P|QFKL VFKHQ 3HUVRQ JHQDQQW &OHPHQV GHU ,UH ]XVDPPHQ ]RJ KDW HU VLFK YLHO YRQ MHQHU $EVWUDNWKHLW EHZDKUW GLH LKQ EHIlKLJW YRQ DOOHQ 7LWXODU%DVLOLNHQ GHU 6WDGW ]XJOHLFK ]X OlXWHQ© 'HU /HVHU GXUFKVFKDXW GDV 6SLHO XQG VXFKW EHLP /HVHQ PLW GHP %OLFN LPPHU ZLH GHU GHQ *HJHQEOLFN GHV (U]lKOHUV 7KRPDV 0DQQ XQ EHNPPHUW XP GDV HSLVFKH *HWXH &OHPHQV GHV ,UHQ $XFK GHU .UXOO LVW HLQ VROFKHV 3URGXNW GHV HSLVFKLUR QLVFKHQ (LQYHUQHKPHQV ]ZLVFKHQ $XWRU XQG /HVHU (LQH.RQIURQWLHUXQJ]ZLVFKHQ7KRPDV0DQQVOHW]
WHP IUDJPHQWDULVFK JHEOLHEHQHQ (U]lKOZHUN XQG GHP HUVWHQ JURHQ 5RPDQ YRQ *QWHU *UDVV YHUPDJ HV]XGHPRQVWULHUHQ )HOL[ .UXOO XQG 2VNDU 0DW]HUDWK KLHU VFKHLQW HLQH =XVDPPHQVWHOOXQJ YRU]XOLHJHQ GLH ]ZHL *UHQ]IlOOH PLWHLQDQGHU NRQIURQWLHUW 'LH K|FKVWH *HVHOOVFKDIW OLFKNHLW GHV XQZLGHUVWHKOLFKHQ +RFKVWDSOHUV XQG GLH H[WUHPH *HVHOOVFKDIWVORVLJNHLW GHV %OHFKWURPPOHUV 'HU P\WKLVFK EHUK|KWH 9HUIKUHU XQG /JHQJRWW DOV *HJHQSRVLWLRQ ]XP 5HSUlVHQWDQWHQ HLQHU ª8QWHU ZHOW© LQ MHJOLFKHP 9HUVWDQGH ,Q )HOL[ .UXOO LVW LP PHU QRFK +HUPHV VSUEDU GDV ZHL QLFKW QXU GLH WUL EDGLVFKH 6FKULIWVWHOOHULQ 'LDQH +RXSIOH 1HEHQ 2V NDU 0DW]HUDWK DEHU PX VLFK QRFK 7KHUVLWHV ZLH HLQH NODVVLVFKH *|WWHUJHVWDOW DXVQHKPHQ 'HQQRFK VROOWH PDQ DXFK KLHU QLFKW LP )DOOH )HOL[ .UXOOV GLH 5HFK QXQJ PDFKHQ RKQH GHQ ,URQLNHU 7KRPDV 0DQQ 'LH 6DWLUH EHL *QWHU *UDVV LVW QLFKW DOO]X ZHLW HQWIHUQW YRQ GHU ,URQLH GHV VSl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ª(LQ7DJEUDFKWHWURW]DO
OHP GLH $XIO|VXQJ GHU 0DWHULDOSDNHWH ]XP !+RFK VWDSOHU GLH :LHGHUOHVXQJ GHU 9RUDUEHLWHQ 0LW ZXQGHUOLFKHP (UJHEQLV (V ZDU !(LQVLFKW LQ GLH LQ QHUH 9HUZDQGWVFKDIW GHV )DXVW6WRIIHV GDPLW EH UXKHQG DXI GHP (LQVDPN HLWVPRWLY KLHU WUDJLVFK P\VWLVFK GRUW KXPRULVWLVFKNULPLQDO GRFK VFKHLQW GLHVHU ZHQQ JHVWDOWXQJVIlKLJ GHU PLU KHXWH DQJH PHVVHQHUH ]HLWQDKHUH GULQJHQGHUH © 'LH :DDJH KDWWH DXVJHVFKODJHQ 'HP -RVHI7KHDWHU VROOWH QLFKW ªHUVW QRFK© GHU 6FKHOPHQURPDQ IROJHQ =XP ]ZHLWHQ 0DO EULJHQV EHIDQG VLFK 7KRPDV 0DQQ DQ HLQHP .UHX]ZHJ VROFKHU $UW DEHUPDOV HQW VFKLHG HU JHJHQ )HOL[ .UXOO $OV GHU (UVWH :HOWNULHJ ]X (QGH JHJDQJHQ ZDU XQG GXUFK VHLQ (UJHEQLV DOOH 7KHVHQ XQG SROLWLVFKHQ 3KLORVRSKLHQ 7KRPDV 0DQQV DXV GHQ %HWUDFKWXQJHQ HLQHV 8QSROLWLVFKHQ ZLGHUOHJW ]X KDEHQ VFKLHQ PXWH QHXH $UEHLW JHVXFKW ZHUGHQ (LQ KHLWHUHV *HJHQVWFN JOHLFKVDP HLQ 6DW\UVSLHO ]XP 7RG LQ 9HQHGLJ ZDU QRFK YRU GHP :HOWNULHJVEH JLQQ HQWZRUIHQ ZRUGHQ PLW HLQHU K|FKVW XQURPDQ WLVFKHQ 6]HQHULH GLH VLFK PLW 9HQHGLJ JDU QLFKW YHU JOHLFKHQ GXUIWH QlPOLFK HLQHP GHU HEHQVR EHUKPWHQ ZLH WHXUHQ 6FKZHL]HU /XQJHQVDQDWRULHQ $OOHLQ DXFK GLH %HN HQQWQLVVH GHV +RFKVWDSOHUV )HOL[ .UXOO JOHLFKIDOOV HLQ 3URGXNW GHU 9RUNULHJV]HLW ERWHQ VLFK ]XU:HLWHUDUEHLWDQ 7KRPDV 0DQQ HQWVFKLHG VLFK GDPDOV ]XQlFKVW HLQPDO JHJHQ EHLGH (QWZUIH XP GHP )DPLOLHQKXQG %DX VFKDQ GHQ 9RU]XJ ]X JHEHQ 6R HQWVWDQG GLH *HVFKLFK WH YRQ +HUU XQG +XQG $EHU GLH HLJHQWOLFKH 'H]LVLRQ ZDUGDPLWQXUDXIJHVFKREHQ'LH(QWVFKHLGXQJILHO
DXV IU 'DYRV XQG JHJHQ )HOL[ .UXOO 'DV EHDEVLFK WLJWH NOHLQH 6DW\UVSLHO ZXFKV KLQEHU LQ GLH 5LHVHQ GLPHQVLRQHQGHV=DXEHUEHUJ5RPDQV
,P -DKUH DOV HLQ .ULHJVHQGH DE]XVHKHQ ZDU XQG GLH -RVHIV7HWUDORJLH GLH XUVSUQJOLFK EOR DOV 7ULORJLH HQWZRUIHQ ZXUGH DEJHVFKORVVHQ YRUOLHJW ZLUG HLQH QHXH $OWHUQDWLYH IlOOLJ (LJHQWOLFK LVW HV JDU NHLQH 6R EHGHXWHW XQV MHGHQIDOOV GLH 1RWL] DXV 7KRPDV 0DQQV 7DJHEXFK 'LH *HVFKLFKWH .UXOOV XQG /HYHUNKQV KDEH ² VR PX GHU +LQZHLV YHUVWDQGHQ ZHUGHQ PLW GHPVHOEHQ 9RUJDQJ ]X WXQ PLW GHU .QVWOHUHLQVDPNHLW %HLP )DXVWXV7KHPD GUlQJH VLFK GLH WUDJLVFKP\VWLVFKH 'DUVWHOOXQJVZHLVH DXI EHLP +RFKVWDSOHU .UXOO GLH *DWWXQJVIRUP GHV KXPR ULVWLVFKHQ5RPDQV $EHUPDOV PX .UXOO ]XUFNWUHWHQ 6HLQ 5RPDQ LVW )UDJPHQW JHEOLHEHQ ZLH PDQ ZHL 1RFK LP OHW]WHQ /HEHQVMDKU DOV 7KRPDV 0DQQ HLQHQ HU VWHQ %DQG GHU .UXOO0HPRLUHQ YRUJHOHJW KDW XQG DEHUPDOV GHU %HJHLVWHUXQJ VHLQHU /HVHU VLFKHU VHLQ NDQQ |IIQHW VLFK ]XP GULWWHQ 0DO HLQ .UHX]ZHJ 6ROO GHU .UXOO YRP (U]lKOHU GHU QXQ LP /HEHQVMDKU VWHKW DEJHVFKORVVHQ ZHUGHQ RGHU YHUODQJW GHU $O WHUVVWLO 7KRPDV 0DQQV QDFK GHP JDQ] $QGHUHQ XQG 1HXHQ" 0DQ HUIXKU GDPDOV DXV JHOHJHQWOLFKHQ ,QWHU YLHZV GLH GHU 'LFKWHU JDE HV VHL HLQ /XVWVSLHOSODQ DXIJHWDXFKW PLW /XWKHUV +RFK]HLWVWDJ DOV 7KHPD ,P 1DFKOD IDQGHQ VLFK HUVWH 0DWHULDOLHQ IU GDV QHXH 3URMHNW .UXOO ZDU ]XP GULWWHQ 0DO EHGURKW 'DEHL LVWHVJHEOLHEHQ 'DGHUMXQJHUKHLQLVFKH+RFKVWDSOHUªDXVIHLQEU
JHUOLFKHP ZHQQ DXFK OLHGHUOLFKHQ +DXVH© PLW GHU /LHEOLQJVSUREOHPDWLN GHV IUKHQ 7KRPDV 0DQQ GHP 9HUKlOWQLV DOVR ]ZLVFKHQ %UJHUZHOW XQG .QVWOHU WXP ]X WXQ KDWWH ZDU YRQ $QIDQJ DQ HYLGHQW 6FKRQ LQ GHQ HUVWHQ (U]lKOXQJHQ GHP %DMD]]R HWZD VSlWHU LP 7RQLR .URJHU RGHU LP 7ULVWDQ KDWWH GHU (U]lKOHU DXV /EHFN HLQ VSlWHUHV 7KHPD GHU 'UHLJURVFKHQRSHU YRUZHJJHQRPPHQ GLH 6HKQVXFKW GHU $XHQVHLWHU QDFK GHQ :RQQHQ EUJHUOLFKHU *HZ|KQOLFKNHLW )UHL OLFK ZDUHQ %HWWOHU XQG 9HUEUHFKHUN|QLJ EHL %UHFKW GLH 5HSUlVHQWDQWHQ HLQHV JHVHOOVFKDIWOLFKHQ 2XWVLGHU WXPV 7KRPDV 0DQQ GDJHJHQ PHLQWH LPPHU HLQ VHH OLVFKHV $EVHLWV NXOPLQLHUHQG LQ GHU 5DQGH[LVWHQ] GHV /LWHUDWHQ 'LH .RQVWHOODWLRQ 7RQLR .U|JHUV XQG +DQV +DQVHQV GHV +HUUQ 6SLQHOO YRU .|QLJ 0DUNH .O|WHUMDKQ +DQQR %XGGHQEURRN LP .DPSI PLW GHQ 1RUPHQ XQG 5LWHQ GHU 6FKXOKLHUDUFKLH ,Q DOOHQ )lO OHQ $UWLVWHQOHEHQ JHJHQ %UJHUOLFKNHLW hEHUDOO VWUHE WHQ GLHVH (U]lKOXQJHQ QDFK GHQ :RQQHQ JHLVWLJHU (U QLHGULJXQJGXUFKGLH8QJHLVWLJNHLW +LHU VHW]WH GLH XUVSUQJOLFKH .RQ]HSWLRQ GHV .UXOO 5RPDQV HLQ $XFK .UXOO ZLUG DOV .QVWOHU SUlVHQ WLHUW IUHLOLFK LQ HLQHU 'LV]LSOLQ GLH DQ NHLQHU .XQVW KRFKVFKXOH JHOHKUW ZLUG QlPOLFK LP %HUHLFK GHU ªVWUDIJHVHW]OLFK QRUPLHUWHQ 7DWEHVWlQGH© 'HQQRFK LVW .UXOO YLUWXHOO XQG VRJDU UHDO QlPOLFK LQ GHU KRKHQ .XQVW GHU %HWUJHUHL HLQ HFKWHU $UWLVW (U WUHLEW VLFK QLFKW GXUFK JHVHW]ZLGULJHV 9HUKDOWHQ DXV GHP %U JHUEHUHLFK VRQGHUQ JHK|UWH YRQ $QIDQJ DQ QLFKW GD ]X (U ZDU +RFKVWDSOHU QRFK YRU %HJHKXQJ GHU HUVWHQ +RFKVWDSHOHL'DUDXVHQWVSULQJWVHLQH(LQVDPNHLW
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lKOHU ELV ]XP 6FKOX EHLEHKDOWHQ 'DV .DSLWHO LP XQG OHW]WHQ %XFK GHU .UXOO0HPRLUHQ JHVFKULHEHQ LQ 7KRPDV 0DQQV OHW]WHU /HEHQV]HLW EHJLQQW PLW ]ZHL NXU]HQ 6lW]HQ UFNEOLFNHQGHU 0HGLWDWLRQ )HOL[ .UXOO VWHOOW IHVW ª,FK NDQQ PHLQ LQQHUHV 9HUKDOWHQ ]XU :HOW RGHU ]XU *HVHOOVFKDIW QLFKW DQGHUV DOV ZLGHUVSUXFKV YROO EH]HLFKQHQ %HL DOOHP 9HUODQJHQ QDFK /LHEHV DXVWDXVFK PLW LKU HLJQHWH LKP QLFKW VHOWHQ HLQH VLQ QHQGH .KOH HLQH 1HLJXQJ ]X DEVFKlW]HQGHU %HWUDFK WXQJ GLH PLFK VHOEVW LQ (UVWDXQHQ VHW]WH© )HOL[ .UXOO NHQQW GLH .QVWOHUHLQVDPNHLW XQG OlW VLFK GXUFK NHLQHQ HURWLVFKHQ 7ULXPSK EHU GLH *UXQGWDWVDFKHQ VHLQHV 9HUKDOWHQV ]XU 8PZHOW KLQZHJWlXVFKHQ .UXOO VFKHLQW LQ DOOHQ 6LWXDWLRQHQ GHU :HUEHQGH XQG 1HK PHQGH ]X VHLQ ,Q :DKUKHLW YHUKlOW HV VLFK XPJH NHKUW HU EOHLEW EHUDOO GDV 2EMHNW YRQ /LELGR 6\P SDWKLH =XWUDXOLFKNHLW 'HU 6FKDUODWDQ NDQQ GHQ *H QX YRU]JOLFK VSLHOHQ RE HU VHOEVW ZDKUKDIW JHQLHW EOHLEWRIIHQ'DVPDFKW.UXOOLVWHLQ0DQQGHU)LN
WLRQHQ (U OHEW LQ GHQ *HVSLQVWHQ GHU 3KDQWDVLH QD WUOLFK DXFK GHU /JH XQG VFKOlJW 9RUWHLO DXV GHP (LJHQWOLFKVWHQ VHLQHU ([LVWHQ] GHP 6SLHO GHU (LQELO GXQJVNUDIW (U LVW HLQ $UWLVW LP %HUHLFK GHVVHQ ZDV GHU %HWUXJVSDUDJUDSK GHV 6WUDIJHVHW]EXFKHV PLW GHU )RUPHO ª9RUVSLHJHOXQJ IDOVFKHU 7DWVDFKHQ© ]X IDVVHQ VXFKW $EHU GLH 9RUVSLHJHOXQJ LVW ]XQlFKVW HLQPDO DUWLVWLVFKHU 6HOEVW]ZHFN .UXOOV ([LVWHQ] LVW HLQH VRO FKH GHV O DUW SRXU O DUW 'D GLHVH $UWLVWLN GDEHL DXFK HWZDV DEZLUIW PHLVW UHFKW YLHO ZLUG ZRKOJHIlOOLJ DN]HSWLHUW DEHU ]XQl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ª'LH QHXHQ (UUXQJHQVFKDIWHQ DEHU HLQ 6PRNLQJ$Q]XJ HLQ $EHQGPDQWHO PLW VHLGHQJH IWWHUWHU 3HOHULQH EHL GHVVHQ $XVZDKO LFK XQZLOONU OLFK YRQ HLQHP LPPHU IULVFK JHEOLHEHQHQ -XJHQGHLQ GUXFN GHU (ULQQHUXQJ DQ 0OOHU5RVH DOV $WWDFKH XQG 6FKU]HQMlJHU EHVWLPPW JHZHVHQ ZDU GD]X HLQ PDWWHU =\OLQGHUKXW XQG HLQ 3DDU /DFNVFKXKH KlWWH LFK LP +RWHO QLFKW VHKHQ ODVVHQ GUIHQ© 'HU +RFK VWDSOHU )HOL[ .UXOO LVW 3URWRW\S HLQHV KRPR OXGHQV (UYHUEULQJWVHLQ/HEHQDOVlVWKHWLVFKH([LVWHQ]'DU
XP ILQGHQ VLFK LP 0LWWHOSXQNW GHU GUHL 5RPDQEFKHU JOHLFK]HLWLJ GUHL JURH 6FKLOGHUXQJHQ YRQ 6SLHOYRU JlQJHQ 2SHUHWWH =LUNXVDUWLVWLN 6WLHUNDPSI 'LH (LQVDPNHLW )HOL[ .UXOOV GHV +RFKVWDSOHUV XQG .QVWOHUV QlKHUW LKQ GHP PR QVWU|VHQ 'DVHLQ GHV %OHFKWURPPOHUV 2VNDU 0DW]HUDWK DQ $XFK 2V NDU VFKOlJW GLH /DXIEDKQ HLQHV HUIROJUHLFKHQ $UWLVWHQ HLQ ª2VNDUQHOOR© ZLUG ]XU DUWLVWLVFKHQ $WWUDNWLRQ 'LH .OXIW ]ZLVFKHQ LKP XQG VHLQHQ %HZXQGHUHUQ GLH HLQH VROFKH GHV %HZXWVHLQV LVW JHJHQEHU HLQHU XQEHZX WHQ 9LWDOLWlW JHJHQEHU GHQ :RQQHQ GHU *HZ|KQ OLFKNHL W VF KOLH W VLF K QLF KW 1XU .U XOO VH KQW VLF K HUIROJORV QDFK GHU EUJHUOLFKHQ :HOW ULVNLHUW VR JDU GHQ 3HUV|QOLFKNHLWVWDXVFK PLW GHP HFKWHQ 0DU TXLV DEHU RKQH (UIROJ (U LVW XQG EOHLEW 2EMHNW IU GLH$OO6\PSDWKLHGHUlQGHUQ :HQQ D QJH PHUNW ZHUGHQ NR QQWH GD *QWHU *UDVV LP %OHFKWURPPHO5RPDQ JHOHJHQWOLFK GHQ VHOEVWEH ZXWHQ /LWHUDWHQ 2VNDU PLW OHLFKWHP 6FKXOWHUUXFN EHLVHLWH VFKLHEW XP ² JOHLFKVDP LQ HLJHQHU 6DFKH GHP /HVHU HWZDV PLW]XWHLOHQ VR ULQGHW VLFK LP .UXOO 5RPDQ GHU DQDORJH 9RUJDQJ 'LH YRP DOWHQ 7KRPDV 0DQQ JHVFKULHEHQHQ 3DUWLHQ DUEHLWHQ VRJDU JDQ] EHUZLHJHQG PLW GLHVHP .XQVWJULII VR GD GHU /H VHU GLH =ZLVFKHQVFKDOWXQJ GHV GUDXIORVVFKUHLEHQGHQ +RFKVWDSOHUV QXU DOV GXUFKVLFKWLJH )LQWH HPSILQGHW XQG JODXEW LQ :LUNOLFKNHLW SHUPDQHQW PLW GHP HLJHQWOLFKH Q 9HUIDVVHU LP *HVSUlFK ]X VHLQ 'D .UXOOV JHVWHO]WH 3URVD LQ GHQ HUVWHQ .DSLWHOQ GD]X GLHQHQ PX KLQWHU GHU VFKHLQEDUHQ 2IIHQKHLW DOOHU (QWKOOXQJHQGHQ(U]OJQHUVLFKWEDUZHUGHQXQGHU
WDSSHQ ]X ODVVHQ JHK|UWH ]XU NQVWOHULVFKHQ $EVLFKW GHV 9HUIDVVHUV 'HU /HVHU ZXWH DXHUGHP YRQ YRUQ KHUHLQ GD EHL DOOHU *HVFKLFNOLFKNHLW XQG JHQLDOHQ (NOHNWLN ² GHU +RFKVWDSOHU .UXOO QLHPDOV VR HOHJDQW ]X VFKUHLEHQ LPVWDQGH VHL ZLH GHU EHUKPWH 6FKULIW VWHOOHU 7KRPDV 0DQQ DXV /EHFN 9RUZDQG DOVR XQG 0LWWHO GHU )LJXUHQFKDUDNWHULVWLN 1RFK LP 'RNWRU )DXVWXV ZLUG GLH (U]lKOKDOWXQJ GHV %LRJUDSKHQ 6H UHQXV =HLWEORP QDFK lKQOLFKHQ 3ULQ]LSLHQ DQJHOHJW 'D JLEW HV HLQHQ =HLWEORP GHU DOV NOHLQHU GHXWVFKHU 6WXGLHQUDW LP +LWOHUUHLFK VFKUHLEW GDQQ HLQHQ %H ULFKWHUVWDWWHU GHU JOHLFKVDP ªEHU VHLQH 9HUKlOWQLV VH© IRUPXOLHUW VFKOLHOLFK XQG YRU DOOHP JHJHQ GDV (QGH KLQ 7KRPDV 0DQQ VHOEVW DOV %HULFKWHUVWDWWHU PLW GHU IOFKWLJ YRUJHEXQGHQHQ 0DVNH GHU .XQVW ILJXU=HLWEORP *HJHQ (QGH GHV )HOL[ .UXOO HQWVWHKW HLQH QHXH .XQVW IHUWLJNHLW GDGXUFK GD QHEHQ GHU )LJXUHQFKDUDNWHUL VWLN GHV +RFKVWDSOHUV GXUFK VHLQH 6SUDFKH XQG GHU XQPLWWHOEDUHQ ,QWHUYHQWLRQ 7KRPDV 0DQQV GHU VLFK JOHLFKVDP LQ HLJHQHP 1DPHQ DQ GHQ /HVHU ZHQGHW QRFK HLQH GULWWH 'DUVWHOOXQJVIRUP HUSUREW ZLUG 7KRPDV 0DQQ DOV 3DURGLVW GHV 6SlWVWLOV YRQ 7KRPDV 0DQQ 'DV ]ZHLWH %XFK GHU 0HPRLUHQ .UXOOV GHE WLHUW PLW %HWUDFKWXQJHQ GHV +RFKVWDSOHUV GLH PDQ DOV 6LPXOWDQVSLHO GHV UHDOHQ (U]lKOHUV PLW GHU 6WLOLVWLN .UXOOV XQG 7KRPDV 0DQQV EH]HLFKQHQ NDQQ ª/DQJH KDEHQ GLHVH 3DSLHUH XQWHU 9HUVFKOX JHUXKW ZRKO HLQ -DKU ODQJ KLHOWHQ 8QOXVW XQG =ZHLIHO DQ GHU (U VSULHOLFKNHLW PHLQHU 8QWHUQHKPXQJ PLFK DE LQ WUHXVLQQLJHU)ROJH%ODWWDXI%ODWWVFKLFKWHQGPHLQH
%HNHQQWQLVVH IRUW]XIKUHQ 'HQQ REJOHLFK LFK DXI GHQ YRUVWHKHQGHQ 6HLWHQ PHKUIDFK YHUVLFKHUW KDEH GD LFK GLHVH 'HQNZUGLJNHLWHQ KDXSWVlFKOLFK XQG LQ HUVWHU /LQLH ]X PHLQHU HLJHQHQ 8QWHUKDOWXQJ XQG %H VFKlIWLJXQJ DXI]HLFKQH VR ZLOO LFK QXU DXFK LQ GLHVHP %HWUHII GHU :DKUKHLW GLH (KUH JHEHQ XQG IUHLPWLJ HLQJHVWHKHQ GD LFK LQVJHKHLP XQG JOHLFKVDP DXV GHP $XJHQZLQNHO EHLP 6FKUHLEHQ GRFK DXFK GHU OH VHQGHQ :HOW HLQLJH 5FNVLFKW ]XZHQGH XQG RKQH GLH VWlUNHQGH +RIIQXQJ DXI LKUH 7HLOQDKPH LKUHQ %HL IDOO ZDKUVFKHLQOLFK QLFKW HLQPDO GLH %HKDUUOLFKNHLW EHVHVVHQ KDEHQ ZUGH PHLQH $UEHLW QXU ELV ]XP JH JHQZlUWLJHQ3XQNWH]XI|UGHUQ© )UDJW PDQ ZDV GD YRUJHKW VR LVW ]XQlFKVW GLH $XI KHEXQJ DOOHU HSLVFKHQ ,OOXVLRQHQ ]X NRQVWDWLHUHQ +LHU ZLUG NHLQHUOHL :LUNOLFKNHLW YRUJHWlXVFKW 'HU VSlWH 7KRPDV 0DQQ KDW JDQ] JHZL QLFKWV PHKU PLW GHP 5RPDQW\S GHV -DKUKXQGHUWV ]X WXQ 'HU .UXOO5RPDQ ZDU YRQ $QIDQJ DQ GD ]X EHVWLPPW GLH RIIHQH HSLVFKH )RUP ]X GHPRQVWULHUHQ 1XQ N|QQWH HLQJHZDQGW ZHUGHQ GLHVH VSH]LILVFKH 5RPDQ WHFKQLN KHXWLJHU (U]lKOZHUNH ] % DXFK GHU %OHFK WURPPHO VWHOOH VLFK GDU DOV 5FNZHQGXQJ ]X HSLVFKHQ 0RGHOOHQ GHV HXURSlLVFKHQ -DKUKXQGHUWV XQWHU $XVVSDUXQJ GHU UHDOLVWLVFKHQ .RPSRVLWLRQHQ GHV EU JHUOLFKHQ 5RPDQV DXV GHP -DKUKXQGHUW $OOHLQ GD LVW HLQ 8QWHUVFKLHG 'HU /HVHU YRQ 5RPDQHQ 6WHU QHV XQG -HDQ 3DXOV RGHU ZRKO DXFK GHU (SLJRQHQ YRQ .DUO ,PPHUPDQQ ZXWH YRQ YRUQKHUHLQ GD HU LP 5RPDQYHUODXI PLW 0D[LPHQ XQG 5HIOH[LRQHQ 6WHU QHV-HDQ3DXOVRGHU,PPHUPDQQVNRQIURQWLHUWZHU
GHQ ZUGH 'DV HUZDUWHWH HU XQG VR EHWUDFKWHWH HU DOOH (LQNOHLGXQJHQ DOV HLQ 9HUVWHFNVSLHO GDV HU JDQ] RKQH ,OOXVLRQHQ PLW]XVSLHOHQ EHUHLW ZDU 7KRPDV 0DQQ DEHU RGHU *QWHU *UDVV HQW]LHKHQ VLFK GHP /HVHU LP VHOEHQ $XJHQEOLFN GD HU JODXEW QDFK $XVVFKDOWXQJ GHU .XQVWILJXUHQ .UXOO RGHU 2VNDU PLW LKQHQ VHOEVW LQV *HVSUlFK ]X NRPPHQ 0DQ NDQQ HV VR IRUPXOLHUHQ :HQQ GLH 0DULRQHWWHQ .UXOO XQG 0DW]HUDWK YRP 3XSSHQVSLHOHU KLQXQWHUJH]RJHQ ZXU GHQ ZLUG GLH %KQH IUHL IU QHXH .XQVWILJXUHQ 6LH KHLHQ GLHVPDO 7KRPDV 0DQQ XQG *QWHU *UDVV DEHU HV VLQG .XQVWILJXUHQ ,P 'RNWRU )DXVWXV ZHU GHQ ªZLUNOLFKH© 0XVLNHU XQG .ULWLNHU HSLVRGHQZHLVH DXIJHUXIHQ %UXQR :DOWHU XQG .OHPSHUHU RGHU GHU .ULWLNHU 'U :LOOL 6FKXK $OOHLQ HV KDQGHOW VLFK XP 5RPDQILJXUHQ PLW 1DPHQ QDFK UHDOHQ 1DPHQVWUl JHUQ 'DV :RUW %UHFKWV ª:HQ LPPHU LKU KLHU VXFKW LFK ELQ HV QLFKW© JLOW LQ DOOHQ )lOOHQ 'DEHL ZLUG HLQ QHXHV 0RPHQW GHV ]HLWJHQ|VVLVFKHQ QLFKW EOR GHV GHXWVFKHQ 5RPDQVFKDIIHQV ZLFKWLJ GDV YRQ YLHOHQ KHXWLJHQ 5RPDQOHVHUQ QLFKW YHUVWDQGHQ ZXUGH ZRUDXV QXU 0LYHUVWlQGQLVVH HQWVSULQJHQ NRQQWHQ :HQLJHU GHQQ MH QlPOLFK LVW HV LQ GHU KHXWL JHQ /LWHUDWXU P|JOLFK LUJHQGZHOFKH 7KHVHQ $NWLR QHQ XQG 5HSOLNHQ LUJHQGHLQHU .XQVWILJXU DXI GHP 7KHDWHU RGHU LP HSLVFKHQ %HUHLFK QDFK JXWHU DOWHU 6FKXOPHLVWHUZHLVH ªGHP 'LFKWHU© ]X]XVFKUHLEHQ 'DV EUJHUOLFKH =HLWDOWHU HLQHU /LWHUDWXU GLH QDFK 6HOEVW YHUZLUNOLFKXQJ GHV .QVWOHUV VWUHEWH LVW ]X (QGH $OOHQWKDOEHQ VLQG .XQVWILJXUHQ PLWHLQDQGHU LP 6SLHO 'LH)XQNWLRQHQGHV5RPDQVXQGGLHHLJHQWOLFKHQ
0RWLYH GHV 9HUIDVVHUV PDQ GDUI GDULQ HLQHQ NQVW OHULVFKHQ )RUWVFKULWW VHKHQ VLQG YRP *HVDPWZHUN KHU ]X LQWHUSUHWLHUHQ QLFKW DEHU GXUFK HLQH IUDJZU GLJH ,GHQWLIL]LHUXQJ GHV $XWRUV PLW HLQ]HOQHQ 3DUWLHQ RGHU )LJXUHQ GHU *HVFKLFKWH ]X HUVFKOLHHQ 'DPLW KlQJW DXFK GLH DXIIDOOHQGH 9RUOLHEH GHU PRGHUQHQ (U]lKOHU IU VRJHQDQQWH 5ROOHQSURVD ]XVDPPHQ 0DQ KDW GLH )LNWLRQ YRP DOOZLVVHQGHQ (U]lKOHU DXI JHJHEHQ XQG OlW LUJHQGHLQH )LJXU LQ GHU ,FK)RUP HWZDV EHULFKWHQ DEHU GHUJHVWDOW GD GHU /HVHU PLW RIW VHKU NXQVWYROOHQ 7ULFNV GDUDQ JHKLQGHUW ZLUG MHQHP HSLVFKHQ (JR GXUFK ,GHQWLIL]LHUXQJ XQG 6\P SDWKLH DXI GHQ /HLP ]X JHKHQ (KHU JHKW GHU PR GHUQH (SLNHU GDUDXI DXV P|JOLFKVW UDVFK HLQH 'L VWDQ] ]ZLVFKHQ GHP ,FK(U]lKOHU XQG GHP /HVHU KHU ]XVWHOOHQ VHL HV GXUFK VFKRFNLHUHQGH (OHPHQWH EHLP %HULFKWHUVWDWWHU VHL HV GXUFK VFKRFNLHUHQGH %HJHEQLVVH ,Q GLHVHP 9HUVWDQGH ZDU GHU )HOL[ .UXOO YRQ $Q IDQJ DQ NHLQ :HUN GHU EHUKlQJHQGHQ 5RPDQWUDGL WLRQ QDFK 7ROVWRL RGHU )ODXEHUW VRQGHUQ HLQH 9RU ZHJQDKPH PRGHUQHU )RUPHQ GHV (U]lKOHQV 2VNDU 0DW]HUDWK VWHKW PLW GHP ªKHUPHWLVFKHQ© +RFKVWDS OHU YRQ 7KRPDV 0DQQV *QDGHQ LP VHOEHQ )DPLOLHQ UHJLVWHU 1RFK HLQ DQGHUHU JHK|UW ]XU )DPLOLH REZRKO HU MH GHVPDO QHUY|V XQG PHODQFKROLVFK ]XVDPPHQ]XFNW ZHQQ YRQ )DPLOLH LUJHQGZR JHVSURFKHQ ZLUG GHQQ ª0HLQH (OWHUQ VWUHQJJOlXELJH 3URWHVWDQWHQ KXOGLJ WHQ GHU 1DFKNULHJVPRGH NRQIHVVLRQHOOHU 9HUV|KQOLFK NHLW XQG VFKLFNWHQ PLFK DXI HLQH NDWKROLVFKH 6FKXOH ,FKVHOEVWELQQLFKWUHOLJL|VQLFKWHLQPDONLUFKOLFK
XQG EHGLHQH PLFK GHU OLWXUJLVFKHQ 7H[WH XQG 0HOR GLHQ DXV WKHUDSHXWLVFKHQ *UQGHQ VLH KHOIHQ PLU DP EHVWHQ EHU GLH EHLGHQ /HLGHQ KLQZHJ PLW GHQHQ LFK YRQ 1DWXU EHODVWHW ELQ 0HODQFKROLH XQG .RSI VFKPHU]© 0DQ ZLUG GHQ 6FKUHLEHQGHQ XQG GHQ 7RQ IDOO HUNDQQW KDEHQ $XFK GLHV %HNHQQWQLV JHK|UW ]X GHQ $QVLFKWHQ GHV &ORZQV +DQV 6FKQLHU DXV GHU )D PLOLH GHU %UDXQNRKOHQ6FKQLHUV XQG YRQ +HLQULFK %|OOV*QDGHQ =XP GULWWHQ 0DO HLQ 6DFKYHUKDOW GHU EHUHLWV YHU WUDXW DQPXWHW Y|OOLJH $QWLQRPLH ]ZLVFKHQ GHU *H VDPWJHVHOOVFKDIW XQG HLQHP LKUHU ² DQJHEOLFKHQ 0LWJOLHGHU 'DV 0RQVWUXP 2VNDU KDWWH VLFK VHOEVW ]XU 0HQVFKHQXQlKQOLFKNHLW VWLOLVLHUW 'HU +RFKVWDSOHU .UXOO OHEWH QLFKW HWZD ZLH HLQ KRFKJHPXWHU 'HOLQ TXHQW LP :LGHUVWDQG JHJHQ GLH UHFKWOLFKHQ VLWWOLFKHQ XQG SROLWLVFKHQ 1RUPHQ ZDV LPPHUKLQ HLQH )RUP GHV =XVDPPHQOHEHQV EHGHXWHW VRQGHUQ DXHUKDOE DOOHU *HVHOOVFKDIWOLFKNHLW (U ZDU HLQ 2EMHNW GDV VWHWV EHJHKUW DEHU QLHPDOV EHVHVVHQ ZLUG GD HV VLFK YRQ 1DWXU DXV DOOHU *HPHLQVDPNHLW HQW]LHKW )ULJLGLWlW HLQHV 0HQVFKHQ NDQQ ]XU 1RW YRQ HLQHU *HVHOOVFKDIW LQWHJULHUW ZHUGHQ ZLH PDQ ZHL 'LH (LQVDPNHLW GHV (UZlKOWHQ DEHU OlW VLFK QLFKW LQ .RPPXQLNDWLRQ YHUZDQGHOQ 'DV JLOW IU GLH .QVWOHUHLQVDPNHLW $GULDQ /HYHUNKQV ZLH IU GLH NULPLQHOOH DEHU DQ JHERUHQH$UWLVWLNGHV)HOL[.UXOO +DQV 6FKQLHU JHK|UW GD]X (U LVW GHU .QVWOHU GHU HLQVDP EOHLEW XQG GHU DXI GLH *HVHOOVFKDIW LP *HJHQ VDW] ]X 2VNDU 0DW]HUDWK GHP E|VDUWLJHQ 7lWHU QXU GXUFKGLH,GLRV\QNUDVLHQHLQHV/HLGHQGHQ]XUHDJLH
UHQ YHUPDJ (U OHEW LQ HLQHU *HVHOOVFKDIW GLH DOOHV ]X LQWHJULHUHQ YHUPDJ EOR GHQ &ORZQ QLFKW ZHLO HU DOOHV ZDV LQ GHU *HVHOOVFKDIW JHWULHEHQ ZLUG QXU YRQ DXHQ VLHKW XQG IUDW]HQKDIW LPLWLHUW RKQH HLQ HLQ]L JHV 0DO VHOEVW EHWHLOLJW ]X VHLQ (U LVW GHU %HWUDFKWHU XQG 1DFKlIIHU 'LH *HVHOOVFKDIW OHEW DOV *DQ]KHLW PDJ VLH VFKOHFKW RGHU JXW VHLQ 'HU DXHQVWHKHQGH &ORZQ DEHU GHQ GLH *DQ]KHLW QLFKWV DQJHKW HUOHEW LPPHU QXU GHQ =HUIDOO DOOHU 7RWDOLWlWHQ LQ XQYHU VWlQGOLFKH XQG XQYHUVWHKEDUH (LQ]HOPRPHQWH %UX GHU /HR 6FKQLHU IUDJW GDV HQWDUWHWH 0LWJOLHG GHU SUR WHVWDQWLVFKHQ %RXUJHRLVIDPLOLH DXV %RQQ DP 7HOHIRQ ª:DV ELVW 'X HLJHQWOLFK IU HLQ 0HQVFK"© 'LH $QW ZRUW ODXWHW ª!,FK ELQ HLQ &ORZQ VDJWH LFK !XQG VDPPOH$XJHQEOLFNH© %HL LKQHQ DOOHQ 7KRPDV 0DQQ XQG %|OO XQG *QWHU *UDVV LVW GHU 5RPDQ IUKHUHQ 7\SV ªEHUZXQGHQ© ZRUGHQ ZREHL PDQ VLFK KWHQ VROOWH YRQ )RUWVFKULWW RGHU 'HNDGHQ] ]X VSUHFKHQ $OOHLQ GLH 5RPDQH XQ VHUHU =HLW VLQG DQGHUV DOV GLH (U]lKOZHUNH IUKHUHU *HQHUDWLRQHQ .UXOO XQG 0DW]HUDWK VLQG 0RQVWUHQ XQG GHU PHODQ FKROLVFKH &ORZQ +DQV 6FKQLHU LVW HEHQIDOOV QLFKW QXU LQ GHQ $XJHQ VHLQHU 8PZHOW HLQH $UW YRQ 8QJH KHXHU 'HU E|VH =ZHUJ 2VNDU SUlVHQWLHUW VLFK IU GHQ /HVHU LQ GHU $XUD GHV KlOLFKHQ XQG DUJHQ :LGHU VDFKHUV 0HQVFKOLFKHV LVW QLFKW DQ LKP 'DV KDW *UDVV JHZXW XQG HLQNDONXOLHUW :LU GHQNHQ EHLP /HVHQ GHU %OHFKWURPPHO DQ 5XPSHOVWLO]FKHQ XQG DQ 0LPH GHQ VFKQDWWHUQGHQ =ZHUJ PLW GHP QHUY|VHQ .RSI QLFNHQEHL:DJQHUGHQGHU0XVLNGUDPDWLNHUZLH
$GRUQR EHKDXSWHW ]XJOHLFK DOV -XGHQNDULNDWXU XQG DOV XQEHZXW JHIRUPWHV 6HOEVWSRUWUlW HQWZRUIHQ KDWWH 'DV 8QKHLPOLFKH DQ GHU ]ZHUJKDIWHQ ([LVWHQ] ZLUG YRQ *UDVV DOV VSH]LILVFKH .XQVWZLUNXQJ HLQJH VHW]W (U OHLVWHW VLFK VRJDU GHQ 6SD HLQHU .RQIURQ WDWLRQ GHV NQVWOLFKHQ =ZHUJHV 0DW]HUDWK PLW HLQHP JOHLFKVDPªQDWUOLFKHQ©/LOLSXWDQHU
.UXOO GDJHJHQ LVW HLQ HWZDV OLHGHUOLFKHU +DOEJRWW ZRULQ HU VHLQHP $UFKHW\SXV +HUPHV QXU ZHQLJ QDFK VWHKW $XFK HU LVW QLFKW PHQVFKOLFK XQG LKP ZLOO VFKHL QHQ ² GDUDXI OlXIW HV EHL 7KRPDV 0DQQ LPPHU ZLH GHU KLQDXV GD MHGHU DUWLVWLVFKHQ ([LVWHQ] YRQ YRUQKHUHLQ HLQLJH ,QJUHGLHQ]LHQ GHU 8QPHQVFKOLFK NHLW EHLJHJHEHQ VHLHQ $OV .UXOO GLH ZDJKDOVLJH =LU NXVQXPPHU GHU 7UDSH]NQVWOHULQ $QGURPDFKH VLHKW XQG DXFK GLH D QGHU HQ $XIWULWWH EHZXQGHUQ GDUI IUDJW HU VLFK ª:DV IU 0HQVFKHQ GLHVH $UWLVWHQ 6LQG HV GH QQ ZHOF KH" 'LH &ORZQV JOHLF K ]XP %HLVSLHO JUXQGVRQGHUEDUH 6SDPDFKHUZHVHQ PLW NOHLQHQ URWHQ +lQGHQ NOHLQHQ GQQ EHVFKXKWHQ )HQ URWHQ 6FK|SIHQ XQWHU GHP NHJHOI|UPLJHQ )LO]KWFKHQ PLW LKUHP .DXGHUZHOVFK LKUHP DXI GHQ +lQGHQ *HKHQ EHU DOOHV 6WROSHUQ XQG +LQVFKODJHQ VLQQORVHQ +HUXPUHQQHQ XQG YHUJHEOLFKHQ +HOIHQ ZROOHQ LKUHQ ]XP MRKOHQGHQ -XEHO GHU 0HQJH HQW VHW]OLFK IHKOVFKODJHQGHQ 9HUVXFKHQ GLH .XQVWVWFNH LKUHU HUQVWHQ .ROOHJHQ ² VDJHQ ZLU DXI GHP 'UDKW VHLOH QDFK]XDKPHQ VLQG VLH VDJH LFK 0HQVFKHQ 0lQQHU YRUVWHOOXQJVZHLVH LUJHQGZLH LP %UJHU OLFKHQ XQG 1DWUOLFKHQ XQWHU]XEULQJHQGH 3HUVR QHQ"©
$OV $QGURPDFKH GHQ .QVWOHUNDPSI PLW GHU 7RGHV JHIDKU DXIQLPPW IUDJW VLFK .UXOO DEHUPDOV ª$EHU ZLHGHUKROW IUDJH LFK KLHU :DU $QGURPDFKH HWZD PHQVFKOLFK" :DU VLH HV DXHUKDOE GHU 0DQHJH KLQ WHU LKUHU %HUXIVOHLVWXQJ LKUHU DQV 8QQDWUOLFKH JUHQ ]HQGHQ IU HLQH )UDX WDWVlFKOLFK XQQDWUOLFKHQ 3UR GXNWLRQ" 6LH VLFK DOV *DWWLQ XQG 0XWWHU YRU]XVWHOOHQ ZDU HLQIDFK OlSSLVFK© 'LH )UDJHQ GHV +RFKVWDSOHUV VWHOOHQ GDV (LQYHUVWlQGQLV KHU ]ZLVFKHQ LKP GHP XQPHQVFKOLFKHQ +DOEJRWW XQG 'LHEHVNQVWOHU XQG GHQ 8QPHQVFKHQ DP 7UDSH] RGHU LP %DMD]]RJH ZDQG +DQV 6FKQLHU SIOHJW ZWHQG ]X ZHUGHQ ZHQQ PDQ LKP GLH %HUXIVEH]HLFKQXQJ ª&ORZQ© YRUHQWKlOW XP LKQ PLW LUJHQGHLQHP EUJHUOLFK JHOlXILJHQ $UWLVWHQ EHUXI ]X EHJDEHQ (U PHLQW HLQPDO XQG KDW YHUPXW OLFK VRJDU UHFKW ª,FK JODXEH HV JLEW QLHPDQGHQ DXI GHU :HOW GHU HLQHQ &ORZQ YHUVWHKW QLFKW HLQPDO HLQ &ORZQ YHUVWHKW GHQ DQGHUHQ GD LVW LPPHU 1HLG RGHU 0LJXQVWLP6SLHO© 'UHL )RUPHQ GHU 8QPHQVFKOLFKNHLW =ZHUJ +DOEJRWW XQG &ORZQ 'DV EUDXFKWH QRFK QLFKW VSH]LILVFK ]X VHLQ IU GLH (UILQGXQJVULFKWXQJ PRGHUQHU (U]lKOHU GHQQ PLW JHZDOWLJHQ 6QGHUQ XQG 9HUEUHFKHUQ SIOHJWH DXFK GHU EUJHUOLFKH ,OOXVLRQVURPDQ XQG VRJDU QRFK GHU 'HVLOOXVLRQV5RPDQ GHV -DKUKXQGHUWV ]X DU EHLWHQ $OOHLQ 9DXWULQ EHL %DO]DF RGHU GHU 6FKZHU YHUEUHFKHU 9DOMHDQ LQ GHQ (OHQGHQ YRQ 9LFWRU +XJR VWDQGHQ GXUFK LKUH 7DWHQ XQG 1HLJXQJHQ DXHUKDOE GHU %UJHUZHOW YHU]HKUWHQ VLFK MHGRFK LQ 6HKQVXFKW QDFKGHU,QWHJULHUXQJ6LHDOOHXPJDEHEHQVRZLHGLH
'LUQHQ XQG .QVWOHU MHQH /LHEOLQJVILJXUHQ HXURSlL VFKHU 1RYHOOLVWLN XP HLQ 'XIWNUHLV GHU 6HQWL PHQWDOLWlW 'HU $XWRU VDK VLH PLW GHQ $XJHQ GHU %UJHUZHOW ZDV HU LKQHQ ]X ELHWHQ KDWWH ZDU 0LW OHLG 1RFK 7KRPDV 0DQQV 7RQLR .URJHU IROJW DOV LURQLVFKH 9DULDQWH GLHVHP HSLVFKHQ 6FKHPD )HOL[ .UXOOLVWDQGHUV %HL GHQ KHXWLJHQ )RUPHQ HLQHU 5RPDQNXQVW PLW ZLGHUPHQVFKOLFKHQ =HQWUDOILJXUHQ ZLUG (LQVDPNHLW GDUJHVWHOOW GLH QLFKWV PHKU ]X WXQ KDW PLW HLQHP 6FKHPD IUKHUHU .QVWOHUURPDQH GHP HWZD QRFK +HUPDQQ +HVVH QDFK]XIROJHQ SIOHJWH ZRQDFK hEHU GUX DQ GHU *HVHOOVFKDIW GLH 3HWHU &DPHQ]LQG JDQ] ]X VFKZHLJHQ YRQ *HVWDOWHQ EHL (UQVW :LHFKHUW DOO PlKOLFK ]XU LQQHUZHOWOLFKHQ 9HUHLQVDPXQJ IKUWH 6LH DOOH EOLHEHQ LQQHUKDOE GHU JHJHEHQHQ :HOW $XFK (UHPLW XQG (LJHQEU|WOHU KDEHQ LKUH 3ODQVWHOOH LQ HLQHUGXUFKIRUPLHUWHQ*HVHOOVFKDIW 0DW]HUDWK DEHU XQG .UXOO XQG 6FKQLHU VLQG NHLQH (LQ]HOJlQJHU +LHU LVW HWZDV DQGHUHV XQG 1HXHV hEHUGLHV IlOOW DXI GD VLH DOOH GDV .QVWOHUWXP HLQHV K|FKVW XQJHZRKQWHQ 7\SV YHUN|USHUQ 2VNDU GXUFK *HVWDOW DQJHERUHQH XQG HUZRUEHQH *DEHQ .UXOO GXUFK GLH JOHLFK]HLWLJ VDNUDOH XQG YHUUXFKWH 6SKlUH YRQ 6FK|QKHLW XQG *DXQHUHL 6FKQLHU GDGXUFK GD HU QLUJHQGZR ªPLW]XPDFKHQ© LPVWDQGH LVW XQG DOOH ª(QJDJHPHQWV© GHU lQGHUQ GHU .DWKROLNHQ XQG 3UR WHVWDQWHQ $UWLVWHQ RGHU .RPPXQLVWHQ QXU DOV QH JDWLYH 1HUYHQUHL]XQJHQ ]X HUOHEHQ YHUPDJ 'DGXUFK DEHU JHVHOOHQ VLH VLFK GHU JURHQ 3KDODQ[ YRQ.QVWOHUQYRUDOOHPDXFKYRQ6FKULIWVWHOOHUQGLH
GHQ PRGHUQHQ 5RPDQ LQ 'HXWVFKODQG XQG DXHU KDOE VHLW HLQLJHQ -DKU]HKQWHQ ]X EHY|ONHUQ SIOHJHQ 2VNDU .UXOO XQG 6FKQLHU VLQG .QVWOHU MHQVHLWV GHU 6SUDFKH $EHU QHEHQ VLH WUHWHQ GLH YLHOHQ 5RPDQKHO GHQ GHUHQ EXFKHQVZHUWH %HJHEHQKHLWHQ YRU DOOHP GDULQ ]X EHVWHKHQ SIOHJHQ GD VLH /HEHQ LQ /LWHUDWXU ]X YHUZDQGHOQ VXFKHQ ,Q GHQ ]ZDQ]LJHU -DKUHQ SIOHJWH GDV PHLVW QRFK ]X JOFNHQ ZHQQ PDQ GHQ $XWRUHQ JODXEHQ ZROOWH (LQ 6FKULIWVWHOOHU EHVFKUHLEW LQ /LRQ )HXFKWZDQJHUV 5RPDQHQ GLH 0QFKQHU (U HLJQLVVH YRQ ELV RGHU GHQ MGLVFKHQ .ULHJ JHJHQ GLH 5|PHU RGHU GHQ 9RUDEHQG GHU IUDQ]|VL VFKHQ 5HYROXWLRQ (LJHQWOLFKH +HOGHQ VLQG DEHU GLH 6FKULIWVWHOOHU $UQROG =ZHLJV %FKHU EHU GHQ (UVWHQ :HOWNULHJ VLQG VR DQJHOHJW GD GHU 6FKULIWVWHOOHU :HUQHU %HUWLQ HLQ 6SUHFKHU VHLQHV $XWRUV /HEHQ NRQVXPLHUW XP HV LQ 5RPDQZHOW ]X YHUZDQGHOQ 6R JDU QRFK 0DUFHO 3URXVWV 6XFKH QDFK GHU YHUORUHQHQ =HLWLVWlKQOLFKDQJHOHJW 'LH QHXHUHQ 6FKULIWVWHOOHUURPDQH GDJHJHQ EHU 6FKULIWVWHOOHU SIOHJHQ PLW HLJHQWPOLFKHU +DUWQlFNLJ NHLW ]X GHPRQVWULHUHQ ZDUXP VLFK /HEHQ QLFKW PHKU LQ /LWHUDWXU YHUZDQGHOQ OlW 0D[ )ULVFK EHWRQW LQ VHLQHQ 5HGHQ QLFKW ZHQLJHU DOV LP *DQWHQEHLQ5R PDQ GLH VFKURIIH $QWLQRPLH ]ZLVFKHQ HUOHEWHU XQG EHVFKULHEHQHU :LUNOLFKNHLW 'HU VWHUEHQGH 9HUJLO EHL +HUPDQQ %URFK ZLOO GLH $HQHLV YHUQLFKWHW VHKHQ ZHLO QLFKW JHOXQJHQ VHL /HEHQ LQ 'LFKWXQJ ]X YHU ZDQGHOQ $UQR 6FKPLGW GHEWLHUWH LP /HYLDWKDQ PLW KLVWRULVFK GUDSLHUWHQ 6FKULIWVWHOOHUJHVWDOWHQ GLH :LUN OLFKNHLWQXUQRFKDOV$UEHLWVPDWHULDOHQWJHJHQ]XQHK
PHQ SIOHJHQ GHU 0DQQ RKQH (LJHQVFKDIWHQ EHL 0XVLO IKUW JOHLFKIDOOV GLH ([LVWHQ] HLQHV /LWHUDWHQ XQG *HL VWHVZLVVHQVFKDIWOHUV GHU (UOHEHQ XQG %HVFKUHLEHQ (NVWDVH XQG ([DNWKHLW ² YHUJHEOLFK ² PLWHLQDQGHU ]X YHUHLQHQ VXFKW =ZHL %ULHIVFKUHLEHU LP +HUU 0HLVWHU YRQ :DOWHU -HQV ZHUGHQ DP 6FKOX GHV %XFKHV GDU EHU HLQLJ GD GHU JHSODQWH 5RPDQ QLFKW HQWVWHKHQ NDQQ hEULJ EOHLEW HLQ %ULHIZHFKVHO EHU 5RPDQ 3URMHNWH VR ZLH PHKU DOV GUHLLJ -DKUH IUKHU EHL $QGUH *LGH GHU 5RPDQVFKUHLEHU (GRXDUG GXUFK GLH %HJHJQXQJ PLW )DOVFKPQ]HUQ DOOHU $UW GDUDQ JHKLQ GHUW ZXUGH HLQHQ 5RPDQ PLW GHP 7LWHO 'LH )DOVFK PQ]HU ]X VFKUHLEHQ %HL 8ZH -RKQVRQ IlKUW HLQ ZHVWGHXWVFKHU -RXUQDOLVW QDPHQV .DUVFK QDFK /HLS ]LJ XP GLH %LRJUDSKLH HLQHV 9RONVOLHEOLQJV XQG 5DG UHQQIDKUHUV QDPHQV $FKLP ]X VFKUHLEHQ =ZHL %FKHU JLEW HV VFKRQ EHU GHQ QXQ VROO GDV GULWWH JHVFKULHEHQ ZHUGHQ (V NRPPW QLFKW ]XVWDQGH GDV LVW GHU ,QKDOW GHV 5RPDQV 'DV GULWWH %XFK EHU $FKLP $QVHOP .ULVWOHLQ LP (LQKRUQ YRQ 0DUWLQ :DOVHU VROO HLQ %XFK EHU GLH /LHEH VFKUHLEHQ VR UHDOLVWLVFK ZLH QXU P|JOLFK $EHU :LUNOLFKNHLW XQG 6SUDFKH ZLGHUVHW]HQ VLFK GHP 8QWHUIDQJHQ (V IHKOW DQ :|UWHUQ EHU /LH EH GLH 6FKULIWVWHOOHUHL YHUVDJW DEHUPDOV YRU GHU 5HD OLWlW 6LH DOOH XQG GHU 6FKULIWVWHOOHU *RUGRQ $OOLVRQ LQ $O IUHG '|EOLQV +DPOHW5RPDQ XQG GHU 6FKULIWVWHOOHU 3KLOLSS EHL :ROIJDQJ .RH SSH Q LP 5RPD Q 7DX EHQ LP *UDV VLQG *HIlKUWHQ YRQ .UXOO 6FKQLHU 0DW]HUDWK 'HU SHQHWUDQWH (LJHQVLQQ VR YLHOHU XQG KHWHURJHQHU$XWRUHQLPPHUZLHGHUGDV7KHPDGHU
HUIROJORVHQ .UHDWLRQ GHU 8QP|JOLFKNHLW QlPOLFK GDU]XVWHOOHQ (UOHEWHV LQ HLQH .XQVWZHOW ]X YHUZDQ GHOQ KlQJW PLW GHQ %H]LHKXQJHQ ]ZLVFKHQ 6FKULIW VWHOOHU XQG *HVHOOVFKDIW ]XVDPPHQ (U VDJW HWZDV EHU GLH =XVWlQGH DXV ZHQQ GLH $XWRUHQ GDV HLJHQH 9HUKlOWQLV ]XU 8PZHOW QXU QRFK GXUFK $UFKHW\SHQ GHU 8QPHQVFKOLFKNHLW RGHU %HULFKWH EHU HUIROJORVH %HULFKWVYHUVXFKH ZLHGHU]XJHEHQ YHUPHLQHQ 'DQQ VLQG 1DUU XQG 8QPHQVFK LQ GHU 7DW GLH ]ZHFNPlLJ VWHQ 5HSUlVHQWDQWHQ HLQHU /LWHUDWXU GHU YHUORUHQHQ 6SUDFKH XQG GHU DEJHULVVHQHQ .RQWDNWH :HU KHXWH GDV 5RPDQVFKDIIHQ GHU QHXHQ (U]lKOHU ]X FKDUDNWHULVLHUHQ VXFKW ILQGHW QDWUOLFK YLHO 5HSHWL WLRQ GHU HLQVWLJHQ )RUPHQ 0RWLYH XQG ,QKDOWH 0DQ NDQQ LPPHU QRFK GXUFK :LHGHUKROXQJ GHU *HVFKLFK WHQ YRQ HLQVW PLW OHLFKW DEJHlQGHUWHU 3RLQWH XQG GDQN GHU (U]lKOZHLVH HLQHV REMHNWLYHQ XQG JRWWlKQ OLFKHQ %HULFKWHUVWDWWHUV (LQGUXFN PDFKHQ $EHU HV KDW QLFKWV PLW NUDPSILJHP $YDQWJDUGLVPXV ]X WXQ ZHQQ GHQ HUQVWKDIWHQ (U]lKOHUQ GHU MQJHUHQ XQG DXFK VFKRQ HLQHU lOWHUHQ *HQHUDWLRQ GLHVH $UW GHV *H VFKLFKWHQHU]lKOHQV VFKOHFKWKLQ ]XZLGHU JHZRUGHQ LVW ª:RKHU ZHL GHU (U]lKOHU GDV HLJHQWOLFK"© ² IUDJWH $OIUHG '|EOLQ YRU PHKU DOV GUHLLJ -DKUHQ EHL %H WUDFKWXQJ GHU KHUN|PPOLFKHQ 5RPDQVWRULHV ,Q GHU 7DW ZRKHU ZLVVHQ GLH (U]lKOHU HLJHQWOLFK ZDV VLH HU ]lKOHQ" (V JLOW DOV HKUOLFKHU HLQ :HUN GHU (LQELO GXQJVNUDIW DXVGUFNOLFK DXI HLQEHNDQQWHQ XQG NXQVW YROO VHUYLHUWHQ )LNWLRQHQ DXI]XEDXHQ 'DQQ HU]lKOW HLQH )LJXU XQG GHU $XWRU KDW VLFK YRQ GHU HUVWHQ 6HLWHDQXQYHUNHQQEDUIUGHQ/HVHUYRQLKUGLVWDQ
]LHUW (V VLQG /JHQJHVFKLFKWHQ GLH GHU PRGHUQH (SL NHU VFKUHLEW 1XQ LVW DOOHV LQ 2UGQXQJ $OOH 'LFKWHU OJHQ GDV ZXWH VFKRQ 3ODWRQ ZHVKDOE HU VLH DXV VHLQHP 6WDDWVZHVHQ ]X YHUEDQQHQ VXFKWH /JHQJH VFKLFKWHQ QHQQW 0DUWLQ :DLVHU HLQLJH VHLQHU )LNWLR QHQ 'LH *UHQ]HQ ]ZLVFKHQ HU]lKOWHU XQG HUOHEWHU :LUNOLFKNHLW VLQG GXUFK lVWKHWLVFKH 0DXHUQ VWUHQJ YRQHLQDQGHU JHWUHQQW 1XU GLH RIIL]LHOOH bVWKHWLN GHU VRZMHWLVFKHQ XQG RVWGHXWVFKHQ /LWHUDWXUWKHRUHWLNHU LVW PHUNZUGLJHUZHLVH JHJHQ GDV (UULFKWHQ VROFKHU 0DXHUQ GRUW KlOW PDQ EHL (UZLQ 6WULWWPDWWHU XQG HUVW UHFKW EHL PLQGHUHQ $XWRUHQ QDFK ZLH YRU DP 5RPDQW\S GHU %DO]DF XQG 7ROVWRL1DFKIROJH IHVW 'RUW VWUHEW PDQ K|FKVW IROJHULFKWLJHUZHLVH LPPHU QRFK MHQHQ )RUPW\S GHV SRVLWLYHQ GXUFKVFKQLWWOLFKHQ RGHU QHJDWLYHQ +HOGHQ DQ GHQ VLFK GLH NULWLVFKHQ (U ]lKOHU LQ DOOHU :HOW DXV lVWKHWLVFKHP *HZLVVHQ OlQJVWDEJHZ|KQWKDEHQ 6LH VLQG GLHVH (U]lKOHU YRQ KHXWH GDGXUFK QLFKW JOFNOLFKHU JHZRUGHQ DEHU ZDKUKDIWLJHU :HQQ LKUH 5RPDQH MHQVHLWV GHU 0HQVFKOLFKNHLW DQJHVLHGHOW ZXU GHQ VR YHUELUJW VLFK GDKLQWHU QLFKW HLQH IDVFKLVWRLGH /XVW DQ GHU ,QKXPDQLWlW 0DQ VFKUHLEW GLH *HVFKLFKWH HLQHV )HOL[ .UXOO RGHU 2VNDU 0DW]HUDWK GHV +DQV 6FKPHU RGHU $QVHOP .QVWOHP QLFKW PLW KHLWHUHP 6LQQ XQG JXWHP *HZLVVHQ 'HU IUKH 7KRPDV 0DQQ IDQG HLQPDO IU GLH $UEHLW GHV 6FKULIWVWHOOHUV HLQH EH ]DXEHUQGH )RUPHO HU VHL HLQ 0HQVFK GHP GDV 6FKUHL EHQ EHVRQGHUV VFKZHU IDOOH :LU HUOHEHQ KHXWH HLQ 5RPDQVFKDIIHQ GDV GHQ PHLVWHQ YRQ GHQHQ GLH VLFK GDPLWDEJHEHQDOVIDVWXQ]XPXWEDUH%HODVWXQJHU
VFKHLQW (U]lKOHQ ZROOHQ YRQ HLQHU :LUNOLFKNHLW GLH PDQ LPPHU ZHQLJHU ]X GXUFKVFKDXHQ JODXEW (U]lK OHQ ZROOHQ LQ HLQHU 6SUDFKH GHU PDQ LQVJHKHLP QLFKW PHKU ]XWUDXW LUJHQGHLQHQ 6DFKYHUKDOW ]X WUHIIHQ RKQH LKQ ]X GHIRUPLHUHQ *HVFKLFKWHQ QLHGHUVFKUHLEHQ QDFK HLQHU +DQGZHUNVUHJHO GLH QLFKW PHKU JLOW 'D NDQQ HV QLFKW ZXQGHUQHKPHQ GD YLHOH GLHVHU 5RPDQH HLQHQ 7LWHO WUDJHQ N|QQWHQ GHU JDQ] DP $QIDQJ GHU QHXKRFKGHXWVFKHQ /LWHUDWXU ]XHUVW DXI WDXFKWH XQG YRQ GHU $PHULNDQHULQ .DWKHULQH $PL 3RUWHU YRU HLQLJHQ -DKUHQ DOV QHXHU 5RPDQWLWHO HQW OLHKHQ ZXUGH 'DV 1DUUHQVFKLII 1DUUHQ 1HXURWLNHU 9HUEUHFKHU 0RQVWUHQ $UWLVWHQ DOOHU $UW EHY|ONHUQ GLH 5RPDQZHOW LQ XQVHUHU 0LWWH GHV -DKUKXQ GHUWV +DW GDV QXU GDPLW ]X WXQ GD GLH 5RPDQ NXQVW YRQ KHXWH HLQH VSlWH .XQVWEXQJ GDUVWHOOW RGHU OlW VLFK YRQ GHQ 5RPDQHQ DXI GHQ =XVWDQG HLQHU*HVHOOVFKDIWVFKOLHHQ"
%LOGXQJ%HVLW]XQG7KHDWHU =XHUVW NDP GDV :HLKQDFKWVPlUFKHQ 'DPDOV KDWWH 3HWHUFKHQV 0RQGIDEUW VHLQH HUVFKUHFNHQG JORUUHLFKH 8UDXIIKUXQJ HUOHEW )U XQV .LQGHU LQ MHQHQ IUKHQ ]ZDQ]LJHU -DKUHQ ZXUGH HV ]XP :HLKQDFKWVPlUFKHQ VFKOHFKWKLQ 'DQQ VFKLFNWHQ JXW EUJHUOLFKH )DPLOLHQ LKUH .LQGHU ]X +DQVHO XQG *UHWHO LQV 2SHUQKDXV ,FK KDEH PLFK JHODQJZHLOW GDV ZHL LFK QRFK JHQDX 0HLQHQ 6FKXONDPHUDGHQ JLQJ HV QLFKW DQGHUV 9LHO ]X YLHO XQG VHKU ODXWH 0XVLN 'D +XPSHUGLQFN HLQ :DJQHULDQHU ZDU XQG GDV .ODQJLGHDO GHV 0HLVWHUVLQ JHURUFKHVWHUV LP +HU]HQ WUXJ NRQQWHQ ZLU QLFKW ZLV VHQ =DQN GHU (OWHUQ YHUVW|UW GLH .LQGHU LQ MHGHP )DOOH ,Q +DQVHO XQG *UHWHO ]DQNWHQ VLFK GLH (OWHUQ ªQDFK1RWHQ© 'HU HUVWH 6FKDXVSLHOEHVXFK KDWWH GHP :LOKHOP 7HLO ]X JHOWHQ GDV VWDQG MHQVHLWV DOOHU (U|UWHUXQJ =XP HU VWHQ ªULFKWLJHQ© 2SHUQEHVXFK VFKLFNWH PDQ GLH .LQ GHU ZDUXP HLJHQWOLFK" LQ GHQ )UHLVFKW] 'LHVHU $EODXI ZDU HLQ 5LWXDO XQG ZXUGH DXFK DOV VROFKHV SUDNWL]LHUW :HLKQDFKWVPlUFKHQ +XPSHU GLQFN 6FKLOOHU XQG &DUO 0DULD YRQ :HEHU $OOHV JH K|UW PLW 6DUWUH ]X VSUHFKHQ ]XP %HUHLFK GHV ªPDQ© 0DQ IKUWH HLQHQ JXWEUJHUOLFKHQ +DXVKDOW PDQ KDWWH 7RUWHQ XQG (LVERPEHQ IU .LQGHUJHEXUWVWDJH LQ HLQHU XQG QXU HLQHU GHU VWDQGHVJHPlHQ .RQGL WRUHLHQ ]X EHVWHOO HQ $Q] DKO GHU 7RUWH Q $EO DXI GHV)HVWHVDOOHVZDUJHVHOOVFKDIWOLFKLPGRSSHOWHQ
6LQQH IL[LHUW 'LHVHV %UJHUWXP LQ GHU hEHUJDQJV]HLW YRP .DLVHUUHLFK ]XU 5HSXEOLN ZDU HLQH ªIRUPLHUWH *HVHOOVFKDIW© 'DV 7KHDWHU JHK|UWH GD]X 0DQ JLQJ ]X GHQ 7KHDWHU SUHPLHUHQ 0DQ KDWWH LQ .|OQ VHLW *HQHUDWLRQHQ HLQ $ERQQHPHQW IU GLH *U]HQLFK.RQ]HUWH VHOEVWYHU VWlQGOLFK IU GLH +DXSWYHUDQVWDOWXQJ :HU EOR .DUWHQ IU GLH *HQHUDOSUREH ]X HUODQJHQ LPVWDQGH ZDU ]lKOWH QLFKW VR JDQ] PLW .|OQ KLHU DOV 7HLO HLQHU DOOJHPHLQHQ GHXWVFKHQ :LUNOLFKNHLW YHUVWDQGHQ 0DQ KDWWH %HVLW] XQG PDQ ZDU JHELOGHW $XFK %LO GXQJ JDOW DOV %HVLW] 6LH ZDU QLFKW EOR )LUPLHUXQJ HLQHU JXWHQ 9HUP|JHQV XQG (UZHUEVODJH VRQGHUQ ZXUGH VHOEVW DOV %HVLW] ]X %XFK JHVFKODJHQ 'DEHL VWDQGHQ LQGLYLGXHOOHV XQG NROOHNWLYHV 9HUKDOWHQ ]X HLQDQGHU LQ :HFKVHOZLUNXQJ 'LH LQGLYLGXHOOH %HVLW] HUJUHLIXQJ GHU ª%LOGXQJVJWHU© JHVFKDK GXUFK .ODV VLNHUELEOLRWKHNHQ :HU .ODVVLNHU ZDU HQW]RJ VLFK HEHQIDOOV GHU (U|UWHUXQJ %HL XQV VWDQGHQ QHEHQHLQ DQGHU KXQGHUWYLHU]LJ %lQGH GHU .ODVVLNHU VFKQXU JHUDGH JOHLFK JHNOHLGHW XQG VFKQ|UNHOKDIW YHUJROGHW ZLH DXI GHP .DVHUQHQKRI RGHU LQ GHU .DGHWWHQDQ VWDOW =ZLVFKHQ GHP IQI]HKQWHQ XQG VLHE]HKQWHQ /H EHQVMDKU KDEH LFK DOOHV GXUFKJHOHVHQ XQG IDQG HLJHQW OLFK DOOHV VFK|Q 6R ZHL LFK KHXWH QRFK GD HV HLQHQ .ODVVLNHU JDE PLW 1DPHQ )UDQ] )UHLKHUU *DXG\ $XFK .DUO *XW]NRZ ZXUGH ZRUDQ $UQR 6FKPLGW VHLQH )UHXGH KlWWH LQ GHU .ODVVLNHUOLVWH JHIKUW RGHU MHQHU PKVDP ZLW]LJH LQ 0HWWHUQLFKV 'LHQVWHQ VSLR QLHUHQGH 0RULW] *RWWOLHE 6DSKLU 9RQ 2WWR /XGZLJV 6lPWOLFKHQ:HUNHQJDQ]]XVFKZHLJHQ
'LHV DOOHV ZDU %HVLW] JHVLFKHUWHV *HLVWHVJXW 9RU GLH VHQ VFKPXFNHQ .DGHWWHQ ZXWH PDQ LP GHXWVFKHQ %UJHUKDXVH ZRUDQ PDQ ZDU +DEH LFK VFKRQ JH VDJW GD *HRUJ %FKQHU QLFKW GD]X JHK|UWH DXFK NHLQHU GHU 6WUPHU XQG 'UlQJHU PLW $XVQDKPH GHV MXQJHQ *RHWKH XQG GHV MXQJHQ 6FKLOOHU" 'LH ]HLWOLFKH *UHQ]H GHU .ODVVLNHUVFKDIW ILHO LP ZHVHQWOLFKHQ PLW GHP %HJLQQ GHU 5HLFKVJUQGXQJ YRP -DQXDU ]XVDPPHQ :HU QDFKKHU JHGLFKWHW KDWWH NRQQWH QXU GDQQ PLW .RQVHNUDWLRQ UHFKQHQ ZHQQ HU YRUKHU EHUHLWV NODVVLNHUPlLJ SURGX]LHUWH GDV JDOW IU 7KHRGRU 6WRUP RGHU &RQUDG )HUGLQDQG 0H\HU 'HU LQGLYLGXHOOHQ HQWVSUDFK GLH DOOJHPHLQJHVHOOVFKDIW OLFKH $QHLJQXQJ 'DV |IIHQWOLFKH *HLVWHVOHEHQ VWDQG LP 'LHQVW GHQNPDOVZUGLJHU 6FK|SIHUILJXUHQ =X LKUHU 9HUWHLGLJXQJ ZDU PDQ LP -DKUH LQV )HOG JH]RJHQ ªXQG GHU !NDWHJRULVFKH ,PSHUDWLY XQVHUHV 3KLORVRSKHQ .DQW ZDU GDV %DQQHU GDV 'LUHNWRU :XOLFNH LQ MHGHU )HVWUHGH EHGURKOLFK HQWIDOWHWH© 1DFK]XOHVHQLQGHQ%XGGHQEURRNV (V EHVWDQG HQJVWH 9HUVWULFNXQJ YRQ EUJHUOLFKHP (O WHUQKDXV 2EULJNHLWVVFKXOH 8QLYHUVLWlWVLGHRORJLH XQG VWDDWOLFKVWlGWLVFKHU .XQVWI|UGHUXQJ $OOHV YROO ]RJ VLFK XQWHU GHP %DQQHU GHV 9HUHLQLJWHQ .|QLJ UHLFKV YRQ %LOGXQJ XQG %HVLW] ,Q DOOHGHP SUlJWH VLFK GLH WUDXULJH *HVFKLFKWH GHV GHXWVFKHQ %UJHUWXPV DXV GLH ªGHXWVFKH 0LVHUH© ZLH .DUO 0DU[ QDFK LKP %UHFKW GDV EHQDQQWHQ 0LW GHU 6DPPOXQJ XQG 5H JOHPHQWLHUXQJ HLQHU VRJHQDQQW NODVVLVFKHQ /LWHUDWXU KDWWH PDQ LQ GHQ YLHU]LJHU -DKUHQ GHV -DKUKXQ GHUWVEHJRQQHQ
6HLW *UQGXQJ GHV %LVPDUFNUHLFKHV HUVW UHFKW LQ GHU ZLOKHOPLQLVFKHQ .RQVWHOODWLRQ HLQHV =XVDPPHQZLU NHQV YRQ .DLVHU XQG 8QWHUWDQ ZXUGH GHU GHXWVFKH %LOGXQJVEHVLW] JHIHVWLJW ,P .DLVHUUHLFK VWLPPWHQ $PWVYRUVWHKHU YRQ :HKUKDKQ XQG 5HQWLHU .UJHU DXV GHP %LEHUSHO] GDULQ PLWHLQDQGHU EHUHLQ GD GLH QHX HQWVWHKHQGH /LWHUDWXU QXU GDQQ NRQVHNULHUW ZHUGHQ GUIH ZHQQ VLH VLFK EHL (UQVW YRQ :LOGHQ EUXFK RGHU VSlWHU EHL PHORGHLHQGHQ 1HXURPDQWL NHUQ PLW JXWHP :LOOHQ XQG HSLJRQDOHP %HPKHQ XP 0HKUXQJ GHV HUHUEWHQ %HVLW]HV EHVRUJW ]HLJWH 'DQQ NRQQWH :LOKHOP ,, MHQHQ 6FKLOOHU3UHLV GHP 1HXURPDQWLNHU (UQVW +DUGW IU HLQH 7ULVWDQ,PLWD WLRQ JHZlKUHQ GHQ HU *HUKDUW +DXSWPDQQ YRUHQW KDOWHQKDWWH 'LH :HLPDUHU 5HSXEOLN KDW GLHVHP 9HUHLQLJWHQ .| QLJUHLFK DXV %LOGXQJ XQG %HVLW] HEHQVRZHQLJ GHQ *DUDXV JHPDFKW ZLH GHQ 7UDGLWLRQHQ GHU N|QLJOLFK SUHXLVFKHQ -XVWL] GHP 6WUDIJHVHW]EXFK YRQ GHP 7UHLEHQ GHU VWXGHQWLVFKHQ .RUSRUDWLRQHQ PLW )XFKVPDMRUHQ XQG $OWHQ +HUUHQ GHU 1DFKEHWHUHL HLQHU VFKRQ GDPDOV REVROHW JHZRUGHQHQ )RUPHO :LO KHOP YRQ +XPEROGWV ZRQDFK VLFK DQ GHU 8QLYHUVLWlW GLH (LQKHLW YRQ )RUVFKXQJ XQG /HKUH NRQNUHWLVLHUH 1DFK GHU 5HYROXWLRQ YRQ KDWWH PDQ GLH +RI WKHDWHU LQ 6WDDWVWKHDWHU XPEHQDQQW QHXH ,QWHQGDQ WHQ XQG GLH VLFK JXW VWDQGHQ PLW GHU H[SUHVVLRQLVWL VFKHQ 0XVH UHJLHUWHQ MHW]W LQ GHQ VWDDWOLFKVWlGWL VFKHQ $PWV]LPPHUQ 'LH (LQKHLW DXV %LOGXQJ XQG %HVLW] MHGRFK ZXUGH QLFKW DQJHWDVWHW 1DFK ZLH YRU VDGDVEHVLW]HQGH%UJHUWXPDXIGHQWHXUHQ3OlW]HQ
'LH $ERQQHQWHQ XQWHUZDUIHQ VLFK LPPHU QRFK HLQHU IUHLZLOOLJHQ 6HOEVWNRQWUROOH LQGHP VLH VLFK HLQVWXIWHQ QDFK ,QKDEHUQ GHU %DONRQORJH GHV HUVWHQ RGHU JDU GHV ]ZHLWHQ 5DQJHV 'DV KLQJ NDXP PLW ILQDQ]LHOOHQ (UZlJXQJHQ ]XVDPPHQ ZHLW PHKU PLW JHVHOOVFKDIW OLFKHQ 0DQ ZXWH IU GDV 2EHQ ZLH GDV 8QWHQ ZRKLQPDQJHK|UWH (EHQVRZHQLJ KDWWH VLFK GHU 6SLHOSODQ YRP 5HVSHNW YRU EHUOLHIHUWHP %LOGXQJVEHVLW] EHIUHLW 0DQ VWHOOWH GLH IUKHUHQ 6SLHOPLWWHO XQG 6SLHOZHLVHQ LQ )UDJH QLFKW GDV .ODVVLNHUUHVHUYRLU /HRSROG -HVVQHU GHE WLHUWH XQG SURYR]LHUWH PLW :LOKHOP 7HLO RKQH %DQN YRQ 6WHLQ DEHU PLW 5LHVHQWUHSSH 'DV 6WFN XQG VHL QHQ 'LFKWHU ]X UHODWLYLHUHQ NDP QLFKW LQ GHQ 6LQQ 6R KDEHQ ZLU LQ GHQ ]ZDQ]LJHU -DKUHQ GDV =XVDP PHQZLUNHQ YRQ (OWHUQKDXV XQG 6FKXOH 7KHDWHU XQG 8QLYHUVLWlW HUOHEW :DV LQ GHU .ODVVLNHUXQLIRUP ]X +DXVH LP %FKHUVFKUDQN JOlQ]WH QDKWH VLFK LQ GHU 'HXWVFKVWXQGH DOV /HUQSHQVXP $XFK KLHU KDWWH HLQH HWDEOLHUWH 3lGDJRJLN GDIU JHVRUJW GD GHU hEHU JDQJ YRP .DLVHUUHLFK ]XU 5HSXEOLN RKQH ªTXDOLWD WLYH 6SUQJH© YROO]RJHQ ZXUGH 0DQ VFKLFNWH GLH .LQGHU LQ GHQ 7HLO XQG GHQ )UHLVFKW] XQG PDQ ODV LQ GHU 6FKXOH DOV HUVWHV NODVVLVFKHV 'UDPD GDV 6FKDX VSLHO (UQVW +HU]RJ YRQ 6FKZDEHQ YRQ /XGZLJ 8K ODQG HLQ *HELOGH YRQ PRQVWU|VHU /DQJHZHLOH GDV XQV PLW ªYHUWHLOWHQ 5ROOHQ© ]HOHEULHUW XQG ]XP =ZHFN YRQ $XIVDW]WKHPHQ HQWEHLQW HLQ 9LHUWHOMDKU ODQJ EHVFKlIWLJWH $OOHQ SUHXLVFKHQ *\PQDVLDVWHQ PHLQHU *HQHUDWLRQ LVW HV JHQDXVR HUJDQJHQ 0DQ ODV GDV6FKDXVSLHOYRP6FKZDEHQKHU]RJ,Q%D\HUQGLH
9DULDQWH GD VWDWW GHVVHQ HEHQIDOOV YRQ 8KODQG XQG HEHQVR ODQJZHLOLJ GDV 6FKDXVSLHO /XGZLJ GHU %DLHUJHOHVHQZXUGH (QJ ZLUNWHQ 6FKXOH XQG 7KHDWHU ]XVDPPHQ ,Q .|OQ JDE HV UHJHOPlLJH =XVDPPHQNQIWH GHU *\PQDVLDO GLUHNWRUHQ PLW GHP VWlGWLVFKHQ .XOWXUGH]HUQDW XQG GHU 6FKDXVSLHOLQWHQGDQ] 'D ZXUGHQ ª6FKOHU]\ NOHQ© DQJHUHJW XQG GXUFKJHIKUW 'LH 'HXWVFKOHKUHU EHNODJWHQ VLFK ZHQQ GLH -XQJIUDX YRQ 2UOHDQV DOO]X ODQJH YRP 6SL HOSOD Q YHUVF KZXQGHQ ZDU 0D Q EUDXFKWH GDV 6WFN DOV SlGDJRJLVFKHV =XVDW]SHQ VXP $XFK KLHU GLH IUHLZLOOLJH 6HOEVWNRQWUROOH GHU ,QWHQ GDQWHQ 'LHVHOEH 'HQNZHLVH XQG 3UD[LV LP JHUPDQL VWLVFKHQ 6HPLQDU 'D KLHOW PDQ HV PHLVW XQZLVVHQW OLFK PLW GHQ 7KHVHQ YRQ *HUYLQXV GHP HLJHQWOLFKHQ %HJUQGHU GHXWVFKHU /LWHUDWXUJHVFKLFKWVIRUVFKXQJ XP GHU *RHWKHV 7RG DOV ZLVVHQVFKDIWOLFKH =lVXU LQWHUSUHWLHUWH %LV ]X *RHWKH JDE HV IU LKQ SRWHQWH /LWHUDWXU QDFKKHU ZDU EOR QRFK ,QYHQWDULVLHUXQJ KLVWRULVFKH (LQRUGQXQJ SKLORORJLVFKH ,QWHUSUHWDWLRQ ]X OHLVWHQ 1RFK :LOKHOP 6FKHUHU DOV /LWHUDUKLVWRUL NHU GHU %LVPDUFNbUD GHVVHQ (QNHO6FKOHU LQ GHQ ]ZDQ]LJHU -DKUHQ DPWLHUWHQ KDWWH GHXWVFKH /LWHUD WXUJHVFKLFKWH DOV HLQHQ 9RUJDQJ YHUVWDQGHQ GHU PLW GHQ 0HUVHEXUJHU =DXEHUVSUFKHQ HLQVHW]WH XP PLW )DXVW ,, DE]XVFKOLHHQ )UHLOLFK KDWWH *HUYLQXV VHLQ .RQ]HSW DOV 3ROLWLVLHUXQJ GHU :LVVHQVFKDIW YHUVWDQ GHQ )U LKQ YROO]RJ VLFK QDFK *RHWKHV 7RG GHU hEHUJDQJ YRP 3ULPDW GHU .XQVW ]X MHQHP HLQHU SR OLWLVFKHQ9HUlQGHUXQJ$XFKGLHQHXH/LWHUDWXUPX
WH GHQ lVWKHWLVFKHQ %HUHLFK WUDQV]HQGLHUHQ XQG DQ GHU 6FKDIIXQJ HLQHV GHXWVFKHQ 1DWLRQDOVWDDWHV PLWKHO IHQ 1DFK GHU 5HLFKVJUQGXQJ KLQJHJHQ XQG QRFK LQ GHU :HLPDUHU bUD YHUVWDQG GLH 8QLYHUVLWlWVJHUPDQLVWLN GLH /HKUH GHV *HUYLQXV VR GD VLH GHQ 9HU]LFKW DXI ZLVVHQVFKDIWOLFKH %HVFKlIWLJXQJ PLW GHU MHZHLOV ]HLW JHQ|VVLVFKHQ /LWHUDWXU DOV *ODXEHQVVDW] DN]HSWLHUWH GDV SROLWLVFKH (QJDJHPHQW DEHU JOHLFK]HLWLJ QHJLHUWH *HUKDUW +DXSWPDQQ NDP LP JHUPDQLVWLVFKHQ 6HPL QDU QLFKW YRU 'DV ZDU NHLQ 7KHPD IU HLQH 'LV VHUWDWLRQ hEHU GLH 0DNNDElHU YRQ 2WWR /XGZLJ NRQQW H P D Q SUR PRYL HU H Q QLF KW EHU 7KRP DV 0DQQ 6R NDP HV QLFKW EOR ]XU DEVXUGHQ 7UHQQXQJ YRQ 'LFKWXQJ XQG DQJHEOLFK QLFKWGLFKWHULVFKHU /LWHUDWXU VRQGHUQ DXFK ]XU VFKURII PHWKRGLVFKHQ 6HSDUDWLRQ ]ZLVFKHQ /LWHUDWXUJHVFKLFKWH XQG DNWXHOOHU /LWHUDWXU NULWLN (LQHV ZDU YRUOHVXQJVUHLI GDV DQGHUH EHUOLH PDQ PLW PRNDQWHP /lFKHOQ GHP ª)HXLOOHWRQLVPXV©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
6LH KDWWH QLFKWV YHUlQGHUW ZHGHU LP JHVHOOVFKDIW OLFKHQ 6XEVWUDW QRFK LQ GHQ +HUUVFKDIWVYHUKlOWQLVVHQ 'HU DOWH %UJHUEHVLW] ]ZDU ZXUGH ZHJJHlW]W GXUFK GLH *HOGHQWZHUWXQJ DOOHLQ GDV QHXH %UJHUWXP GHU .ULHJV XQG 1DFKNULHJVSURILWHXUH ZDU XP VR lQJVW OLFKHU GDUDXI EHGDFKW GLH %LOGXQJVUHJHOQ ]XVDPPHQ PLW GHQ %HVLW]UHJHOQ ]X HUOHUQHQ DOV HV ² LP 7KHDWHU RGHU .RQ]HUWSDUNHWW XQG EHL 9HUDQVWDOWXQJHQ GHU OLWHUDULVFKHQ *HVHOOVFKDIWHQ GLH EHOXVWLJWH 9HUDFK WXQJ MHQHU %UJHUNUHLVH HUOHEHQ PXWH GLH LP 1DFK NULHJ ]ZDU GHQ %HVLW] QLFKW DEHU GLH %LOGXQJ YHUOR UHQ KDWWHQ 6R EOLHE DOOHV EHLP DOWHQ LP EUJHUOLFKHQ :RKQ]LPPHU LQ GHU 6FKXOH LQ GHU 8QLYHUVLWlW LP 7KHDWHU 'DEHL ZDU PDQ EHLOHLEH QLFKW XQPRGHUQ XQG UHDNWLRQlU 2 QHLQ NHLQHVZHJV PDQ KDWWH HLQ +HU] IU GLH 0RGHUQH ZHLO PDQ VLH DOV DQHUNHQQHQV ZHUWH ZHQQJOHLFK RIW HUJHEQLVORVH $QVWUHQJXQJ HPS IDQG GHQ JHLVWLJHQ %HVLW] ]X PHKUHQ )ULW] YRQ 8Q UXK EHLVSLHOVZHLVH KLHOW PDQ DOV SRWHQWLHOOHQ .OHLVW GHV -DKUKXQGHUWV LQ KRKHU :HUWVFKlW]XQJ XQG QXU HLQ 6SLHOYHUGHUEHU PLW E|VHP %OLFN QDPHQV :DOWHU %HQMDPLQ HQWGHFNWH GDPDOV VFKRQ HLQHQ =X VDPPHQKDQJ ]ZLVFKHQ GHU |NRQRPLVFKHQ 0HQWDOLWlW GHU ,QIODWLRQVJHZLQQOHU XQG GHP OLWHUDULVFKHQ 5XKP GHV 9HUIDVVHUV YRQ /RXLV )HUGLQDQG 3ULQ] YRQ 3UHX HQ 'LH $UEHLWHUEHZHJXQJ KDWWH DXFK LQ 'HXWVFKODQG XQG DXFK LQ GHU NXOWXUHOOHQ $NWLYLWlW GLH &KDQFH EUJHUOLFKH 6SLHOUHJHOQ ]X QHJLHUHQ XQG HLQ .RQNXUV YHUIDKUHQ GHU )LUPD ª%LOGXQJ XQG %HVLW]© ]X HU|II QHQ0DU[XQG(QJHOVKDWWHQGDVV HLWLKUHQHUVWH Q
JHPHLQVDPHQ $UEHLWHQ EHU GLH +HLOLJH )DPLOLH GHU -XQJKHJHOLDQHU XQG GLH 'HXWVFKH ,GHRORJLH JHIRUGHUW (PDQ]LSDWLRQ GHV 3UROHWDULDWV EHGHXWHWH LP 0DU[LV PXV %HIUHLXQJ HLQHU NQIWLJHQ *HVHOOVFKDIW YRQ GHQ 3URGXNWLRQVYHUKlOWQLVVHQ XQG 'HQNZHLVHQ GHU %RXU JHRLVLH (LQHU XQNULWLVFKHQ XQYHUPLWWHOWHQ hEHU QDKPH EUJHUOLFKHU ,GHRORJLHQ KDW VLFK )UDQ] 0HK ULQJ LQQHUKDOE GHU GHXWVFKHQ 6R]LDOGHPRNUDWLH MDKU ]HKQWHODQJ XQG HUIROJORV ZLGHUVHW]W (U KDW GDV 6SLHO YRQ %LOGXQJ XQG %HVLW] QLFKW PLWJHVSLHOW 8QEH UKUEDUH .ODVVLNHU ZXUGHQ YRQ LKP QLFKW DQHUNDQQW HEHQ ZHLO HU GDV ZDKUKDIW *URH XQG DXFK HLQLJHV (SKHPHUH LQ GHQ :HUNHQ GHU :HLPDUHU XQG VRJDU GHU 5RPDQWLNHU OLHEWH 0HKULQJ ]HLJWH DOV HUVWHU ZR XQG ZDUXP GHU EUJHUOLFKH .DPSI JHJHQ GLH EUJHU OLFKH $XINOlUXQJ LQ 'HXWVFKODQG HU|IIQHW ZXUGH 'DV 5HVXOWDW ZHU KHXWH GLH /HVVLQJ/HJHQGH OHVHQ P|FK WH PX VLH VLFK EHLP 'LHW]9HUODJ LQ 2VWEHUOLQ EH VRUJHQ 0HKULQJ KDWWH DXFK DOV HUVWHU GLH UHVWDXUDWL YHQ XQG JHJHQUHYROXWLRQlUHQ (OHPHQWH LP :HUN )ULHGULFK +HEEHOV HUNDQQW XQG JHGHXWHW $OV 0LWEHJUQGHU GHU 9RONVEKQH KDQGHOWH 0HKULQJ DEHUPDOV DOV 0DU[LVW (U JLQJ HLQ 6WFN :HJV PLW GHQ EUJHUOLFKHQ 3URWHVWLHUHUQ GHU QDWXUDOLVWLVFKHQ bUD YRQ DEHU GLH 9RONVEKQH VROOWH QLFKW HLQH .RQ WLQXLWlW ]XU ª)UHLHQ %KQH© GHU EUJHUOLFKHQ LP ZHVHQWOLFKHQ OLWHUDULVFKHQ 2SSRVLWLRQ VHLQ VRQGHUQ 'LVNRQWLQXLWlW EHZLUNHQ (LQ 7KHDWHU GHU $UEHLWHU VFKDIW GXUIWH QDFK 0HLQXQJ GHV 0DU[LVWHQ 0HKULQJ QLFKW %UJHUNXOWXU PLW 9HUHLQVUDEDWW HLQNDXIHQ 'DPLWLVWHUQLFKWGXUFKJHGUXQJHQ'LH*UQGHVLQG
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|J OLFK VRQGHUQ QXU DOV (UJHEQLV UHYROXWLRQlUHU 9HU lQGHUXQJ GHU :LUNOLFKNHLW ]X GHQNHQ VHL 'LH 9RONVEKQH LVW LKP ZLH EHNDQQW QLFKW JHIROJW 1LFKW )UDQ] 0HKULQJ ZXUGH ]XP OLWHUDULVFKHQ :RUW IKUHU GHU 9RONVEKQHQEHZHJXQJ VRQGHUQ -XOLXV %DE HLQ ([SRQHQW EUJHUOLFKHQ 'HQNHQV XQG HLQ Sl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lUHQ .ODVVHQNDPSIHV JHVSLHOW 8PIXQNWLRQLHUXQJ GHU :HUWV\VWHPH GHU KLVWRULVFKHQ 3HUVSHNWLYHQGHV9HUKlOWQLVVHV]XUNXOWXUHOOHQ+LQ
WHUODVVHQVFKDIW LQVEHVRQGHUH ]XU .ODVVL]LWlW 'LH 7KHVHQ %UHFKWV DXV MHQHU =HLW VLQG EHNDQQW +HUEHUW ,KHULQJV 6FKULIW JHJHQ GHQ VRJHQDQQWHQ 9RONVEK QHQYHUUDW EOLHE OHVHQVZHUW 3LVFDWRU DEHU RUJDQLVLHUWH HLQ 7KHDWHU GHU 3DUDGR[LH SUROHWDULVFKH 5HYROXWLRQ DXI GHU 6FKDXEKQH GRFK YRU EUJHUOLFK NXOLQDUL VFKHP 3XEOLNXP 'DV KDWWH HV VFKRQ HLQPDO LQ 'HXWVFKODQG JHJHEHQ ,Q +HLQULFK 0DQQV 5RPDQ ,P 6FKODUDIIHQODQG NODWVFKW GDV VRLJQLHUWH 3XEOLNXP GHU UHYROXWLRQlUHQ 0DWLQHH XP VR EHJHLVWHUW GD GLH 1lKWH DQ GHQ *ODFHKDQGVFKXKHQ DXISODW]HQ 0DU[ KDWWH JHOHKUW PDQ PVVH GHQ GHXWVFKHQ 9HU KlOWQLVVHQ LKUH HLJHQH 0HORGLH YRUVSLHOHQ XP VLH WDQ]HQ ]X PDFKHQ DOVR P %HZHJXQJ ]X EULQJHQ 'LH 0HORGLH HUNODQJ EHL 3LVFDWRU DEHU GLHMHQLJHQ WDQ]WHQ QLFKW PLW GLH DOOHLQ LPVWDQGH JHZHVHQ ZlUHQ DOO]X VWDELOH 9HUKlOWQLVVH ]X YHUlQGHUQ 6R NRQQWH DXFK 3LVFDWRU DOV ª%LOGXQJVHUOHEQLV© LQWHJULHUW ZHUGHQ $XFK HU ZXUGH ]XP ª%HVLW]© GHU :RKOPHLQHQGHQ 'DV KDW HU JHZXW XQG QLHPDOV HLJHQWOLFK YHUZXQGHQ 9LHOH 0LJULIIH DXV VHLQHU OHW]WHQ =HLW VLQG GDGXUFK ]X HUNOlUHQ GD GRUW HLQH 5HSHWLWLRQ YHUVXFKW ZXU GH ZR HLQH JHVHOOVFKDIWOLFKH 1HXLQWHUSUHWDWLRQ JH ERWHQZDU :DV VLFK DOV *HVFKLFKWH GHU 'HXWVFKHQ 9RONVEKQH YROO]RJ ZREHL GLH )UDJH QDFK 6FKXOG RGHU 9HUVDJHQ ]XUFNWUHWHQ VROOWH KLQWHU GHU 'HXWXQJ VR]LDOHU XQG LGHRORJLVFKHU =XVDPPHQKlQJH ZLHGHUKROWH VLFK ULH VHQKDIW XQG JURWHVN HUZHLWHUW DOV (YROXWLRQ GHU VR ZMHWLVFKHQ .XOWXU ,Q 5XODQG KDWWH HLQH ZLUNOLFKH 5HYROXWLRQHLQHGXUFK0DU[LVWHQEHZLUNWH8PZlO
]XQJ VWDWWJHIXQGHQ )DVW HLQ -DKU]HKQW ODQJ SURIL WLHUWH GDYRQ DXFK GLH .XQVW 'LH IROJHQUHLFKHQ .XO WXUOHLVWXQJHQ GHU 6RZMHWXQLRQ LP )LOP LQ GHU /\ULN LQ GHU 0XVLN DXI GHP 7KHDWHU QLFKW ]XOHW]W LQ GHU QHXHQ $XIJDEHQVWHOOXQJ GHU .XQVW IU GDV $OOWDJV OHEHQ UHLFKHQ ELV HWZD 'DQQ VHW]WH GHU 5FN VFKODJ HLQ (LQH HUVW LQ GHQ OHW]WHQ -DKUHQ YHU|IIHQW OLFKWH )RWRJUDILH ]HLJW GLH $UEHLWVVLW]XQJ NRQYHUJLH UHQGHU .QVWOHU GHQ 'LFKWHU 0DMDNRZVNL GHQ 5HJLVVHXU 0H\HUKROG DP .ODYLHU GHQ MXQJHQ 'PLWUL 6FKRVWDNRZLWVFK 0DMDNRZVNL VFKR VLFK HLQH .XJHO GXUFK GHQ .RSI 0H\HUKROG LVW HUPRUGHW ZRUGHQ 6FKRVWDNRZLWVFK JLQJ GHQ :HJ ]XUFN ]XU EUJHU OLFKHQ 6\PSKRQLN ]X HLQHU 1DFKIROJH GLH JOHLFK]HL WLJ %HHWKRYHQ XQG 7VFKDLNRZVNL IRUW]XVHW]HQ JH GDFKWH ,PPHU VWlUNHU SUlVHQWLHUWH VLFK GDV NXOWXUHOOH /HEHQ HLQHV 6RZMHWVWDDWHV XQWHU GHQ $VSHNWHQ ]DULVWLVFKHU %UJHUNXOWXU DXV GHU 7LHINKOWUXKH *DOYDQLVLHUXQJ GHV 0RVNDXHU .QVWOHUWKHDWHUV 9HUJ|WWOLFKXQJ XQG .DQRQLVLHUXQJ GHU VSlWEUJHUOLFKHQ 7KHDWHUNXOWXU HLQHV 6WDQLVODZVNL )RUWVHW]XQJ GHU ]DULVWLVFKHQ +L VWRULHQPDOHUHL GLH LKUHUVHLWV HLQH EHJDEWHUH )RUW VHW]XQJ ZHVWHXURSlLVFKHU 0RQXPHQWDOVFKLQNHQ YRQ JHZHVHQ ZDU bFKWXQJ GDJHJHQ GHU H[SUHVVLRQL VWLVFKHQ (UEVFKDIW GLH HUVW LQ GHQ OHW]WHQ -DKUHQ XQG XQWHU 8PVWlQGHQ GLH YRQ :DJQLV VSUHFKHQ ODVVHQ ZLHGHU DXI GHQ %KQHQ YRQ 0RVNDX XQG /HQLQJUDG ]XP =XJH NRPPW :REHL DEHUPDOV HLQH .DQRQLVLH UXQJ HQWVWHKW GLHVPDO GHU HLJHQHQ VFK|SIHULVFKHQ XQGUHYROXWLRQlUHQ9HUJDQJHQKHLW1RFK(QGHGHU
IQI]LJHU -DKUH VDK LFK LP %ROVFKRLWKHDWHU ]X 0RV NDX HLQH $XIIKUXQJ YRQ 0R]DUWV )LJDUR ,FK HUZDU WHWH HLQH $SRWKHRVH GHU %UJHUOLFKHQ 5HYROXWLRQ XQ WHU $EVLQJHQ GHU 0DUVHLOODLVH HUOHEWH HLQH JHWUHXH ,PLWDWLRQ MHQHV )LJDUR GHQ LFK DOV .LQG XQG LP -DKUH DOV hEHUEOHLEVHO GHU +RIWKHWDWHUWUDGLWLRQ LQ %HUOLQ JHVHKHQ KDWWH 'LHVHOEHQ DOEHUQHQ 6SlH GLH VHOEH 0LDFKWXQJ GHU 0XVLN XQG GHU +DQGOXQJ =D ULVWLVFKHV DXIJHWDXWHV 2SHUQWKHDWHU 'DKLQWHU VWDQG GLH NXOWXUSROLWLVFKH 6WDDWVGRNWULQ ZRQDFK GHU 6R ZMHWVWDDW GLH NXOWXUHOOH +LQWHUODVVHQVFKDIW YRQ =DULV PXV XQG %RXUJHRLVLH EHUQHKPHQ XQG NRQVHUYLHUHQ PVVH ,Q GHU ''5 LVW GLH ,GHRORJLH DXV %LOGXQJ XQG %HVLW] JOHLFKIDOOV ]XU 6WDDWVGRNWULQ JHPDFKW ZRUGHQ 6LH ILUPLHUW GRUW DOV ªQDWLRQDOHV .XOWXUHUEH© %LOGXQJ %HVLW] XQG 7KHDWHU $OOH 9HUlQGHUXQJHQ LQ GHU GHXWVFKHQ 5HDOLWlW GHV -DKUKXQGHUWV KDEHQ GLHVHQ 7DWEHVWDQG XQEHUKUW JHODVVHQ ,PPHU QRFK DUEHLWHQ JHUPDQLVWLVFKH 6HPLQDUH XQWHU VWUHQJHU 7UHQQXQJ GHV KLVWRULVFKHQ XQG GHV DNWXHOOHQ 6XE VWUDWV 1DFK ZLH YRU OLHJW GHP 'HXWVFKXQWHUULFKW GLH 9RUVWHOOXQJ YRP VWDELOHQ %LOGXQJVEHVLW] ]XJUXQGH 6LH lXHUW VLFK EULJHQV DXFK GDULQ GD GDV 6FKXO IDFK 'HXWVFK ZHLWHUKLQ PLW GHU $XUD GHU *|WWOLFKNHLW XPJHEHQ ZLUG :HU KLHU YHUVDJW XQG GHQ ª'HXWVFKHQ $XIVDW]© YHUIHKOW VHOEVW ZHQQ QLFKW PHKU JHIRUGHUW ZLUG EHU ª6FKXOG XQG 6KQH GHU -XQJIUDX YRQ 2U OHDQV© ]X UHIHULHUHQ HUVFKHLQW QLFKW ZUGLJ GDV +HL OLJWXP HLQHU GHXWVFKHQ +RFKVFKXOH ]X EHWUHWHQ 8QVHUH 7KHDWHUOHLWHU" 'HUHQ 7\SRORJLH LVW XQVFKZHU ]XHQWZHUIHQ9RUKHUUVFKHQGGHUSOXUDOLVWLVFKH,Q
WHQGDQW 6HLQ 7KHDWHU ELHWHW 2SHU XQG 2SHUHWWH %DO OHWW 6FKDXVSLHO GHU JURHQ XQG NOHLQHQ )RUP 0DQ KDW ]ZHL +l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|UHQ HV ]X VHLQ 1XU ,WDOLHQHU GHV -DKUKXQGHUWV ZHLO GLH DOOJHPHLQ LQ VFKOHFKWHP 5XI VWHKHQ QXU *UDSKLN YRQ 0D[ .OLQJHU XQG GHUJOHLFKHQ $QDORJ VROFKHP 7UHLEHQ P|FKWH GHU HVRWHULVFKH ,QWHQGDQW DP OLHEVWHQ OLHH PDQ LKQ JHZlKUHQ IROJHQGHQ 6SLHOSODQ SUlVHQ WLHUHQ gGLSXV DXI .RORQRV &DOGHURQV $QGDFKW ]XP .UHX] GLH 1DWUOLFKH 7RFKWHU YRQ *RHWKH YRQ .OHLVW GLH )DPLOLH 6FKURIIHQVWHLQ JDU QLFKW ]X UHGHQ YRQ GHQ YHUXQJOFNWHQ 6WFNHQ *UDEEHV &ODXGHO XQG (OLRW LPPHU ZLHGHU HLQHQ OHW]WHQ 2 1HLOO XQG LPPHU ZLHGHU HLQHQ OHW]WHQ *LUDXGRX[ (QGOLFK GHU HQJDJLHUWH ,QWHQGDQW (U VSLHOW 6KDNH VSHDUHV .|QLJVGUDPHQ DOV 6R]LRJUDPPH GHV 0DFKW VWUHEHQV GHQ MXQJHQ 6FKLOOHU XQG GHQ MXQJHQ *RHWKH +DXSWPDQQV:HEHUXQGSODQWHLQHQ=\NOXVGHU5H
YROXWLRQVGUDPHQ VHLW %FKQHU 9LHO %UHFKW ZLH VLFK YHUVWHKW MXQJH 3ROHQ XQG DOWH *ULHFKHQ 'HU SOXUDOLVWLVFKH ,QWHQGDQW OlW VLFK YRP 7KHDWHU GLUHNWRU DXV *RHWKHV 9RUVSLHO ]XP )DXVW LQVSLULHUHQ (U LVW UHLQHU ,QWHUSUHW GHU 'RNWULQ YRQ %LOGXQJ XQG %HVLW] 'HU HVRWHULVFKH ,QWHQGDQW HQWZLUIW HLQ 7KHD WHU IU GLH SKLORVRSKLVFKHQ )DNXOWlWHQ XQG SUlVHQ WLHUW VLFK DOV VXEOLPLHUWHU $XVGUXFN HLQHV IUXVWULHUWHQ %HJULIIV ZRULQ GLH %LOGXQJ DOOHLQ ]XP %HVLW] JHPDFKW ZXUGH :DUHQIHWLVFKLVPXV DXFK KLHU 'HU HQJDJLHUWH ,QWHQGDQW KLQJHJHQ JHULHUW VLFK DOV PDWHULDOLVWLVFK XPIXQNWLRQLHUWHU 6FKLOOHULDQHU ZHOFKHU YRQ GHU 6FKDXEKQH DOV PRUDOLVFKHU $QVWDOW WUlXPW $XFK DXI LKQ WULIIW 'UUHQPDWWV JUDXVDPH (UNHQQWQLV ]X %UHFKW VHL LQ XQVHUHP -DKUKXQGHUW DOV OHJLWLPHU 1DFKIDKUH )ULHGULFK 6FKLOOHUV DQ]XVHKHQ :LH VROO GDV ZHLWHUJHKHQ" :LU KDEHQ GHQ *ODXEHQ DQ HLQH VWDELOH NXOWXUHOOH (UEVFKDIW YHUORUHQ GLH NDQRQL VFKHQ :HUNH GHV 'HXWVFKXQWHUULFKWV VHKHQ DQGHUV DXV DOV LQ PHLQHU -XJHQG ,Q GHQ 5LFKWOLQLHQ IU GHQ 'HXWVFKXQWHUULFKW WDXFKHQ 1DPHQ ZLH %HFNHWW XQG 3URXVW DXI PDQ OLHVW %UHFKW XQG ]HLWJHQ|VVLVFKH /\ ULNHU LQ GHU HOIWHQ .ODVVH 'HQQRFK KDW VLFK DQ GHU $UW GHV 'HQNHQV 'HXWHQV 9HUHLQQDKPHQV QLFKWV JH lQGHUW 'LH 'HXWVFKHQ 6HPLQDUH GHU 8QLYHUVLWlW YHU DQVWDOWHQ 'LFKWHUOHVXQJHQ XQG EHZLOOLJHQ 'R]HQWX UHQ IU 3RHWLN XQG /LWHUDWXUNULWLN 7URW]GHP ZLUG DXFK GDEHL GLH /LWHUDWXU JDQ] KHUN|PPOLFKHUZHLVH DOV .XQVWREMHNW )RUVFKXQJVREMHNW /LHEHVREMHNW XQG $XINOlUXQJVREMHNW PDQLSXOLHUW ,P EUJHUOLFKHQ (O WHUQKDXVYRQKHXWHZXUGHGLH6SKlUHYRQ%LOGXQJ
XQG %HVLW] VRUJIlOWLJ NRQVHUYLHUW ,Q HOLWlUHU :HLVH ZLUG GRUW GLH HOLWlUH *HVLQQXQJ YRQ HLQVW HQWODUYW 6WlUNHU DOV LQ GHQ 6SKlUHQ GHV %UJHUKDXVHV GHU 6FKXOH XQG +RFKVFKXOH VFKHLQW GLH UDGLNDOH 6NHSVLV GHQ 7KHDWHUEHUHLFK HUIDW ]X KDEHQ 'DV LVW NHLQ :XQGHU GH QQ QXU HLQ YH U]F NWHU 7KH DWURPD QH ZLUG EHKDXSWHQ ZROOHQ VFKOHFKWHV XQG XQQ|WLJHV 7KHDWHU VHL LPPHU QRFK EHVVHU DOV JDU NHLQHV =XP HUVWHQ 0DO IUDJW PDQ VLFK RIIHQ XQG XQIUHXQGOLFK NODU RE GLH 4XDQWLWlW GHU 7KHDWHUVSLHOHUHL LP KHX WLJHQ 'HXWVFKODQG 2VW ZLH :HVW GLH ZLU DOV (UE VFKDIW DXV XQVHUHU %UJHUJHVFKLFKWH XQG %HVLW]WUDGL WLRQ EHUQDKPHQ QRFK LUJHQG VLQQYROO JHQDQQW ZHU GHQNDQQ %UHFKW XQG 3LVFDWRU KDWWHQ GLH (UVHW]XQJ GHU EUJHU OLFKHQ 6XEVWDQ] XQG )XQNWLRQ DXI GHP 7KHDWHU GXUFK (LQULFKWXQJHQ XQG 0DVWlEH GHU UHYROXWLRQlUHQ $U EHLWHUZHOW JHIRUGHUW ,Q]ZLVFKHQ VLQG 0DU[ XQG %UHFKW VHOEVW ]X 5HTXLVLWHQ GHU %UJHUZHOW JHZRUGHQ %LOGXQJ XQG %HVLW] LQ HLQHP 6LH VLQG DEHU JOFNOL FKHUZHLVH ZLH VLFK KHUDXVVWHOOHQ ZLUG ZHLW PHKU DOV GDV $OOHLQ GDV VLQG VLH KHXWH DXFK )HUPHQWH HLQHU UHVWDXULHUWHQ XQG UHVWDXUDWLYHQ :HOW GLH DXVEHXWH ULVFK EOLHE 1XU )RUPHOQ XQG 2EMHNWH GHU $XVEHX WXQJKDEHQVLFKJHZDQGHOW :HLO GHP DEHU VR LVW NDQQ PDQ VLFK KHXWH QLFKW DXI GLH VNHSWLVFKH )UDJH QDFK GHU )XQNWLRQ DOOHU 7KHDWHU VSLHOHUHL EHVFKUlQNHQ $OV 6NHSVLV JHJHQEHU GHP SOXUDOLVWLVFKHQ GHP HVRWHULVFKHQ ZLH GHP HQJDJLHU WHQ ,QWHQGDQWHQ 'LH UDGLNDOHUH $QDO\VH EH]ZHLIHOW VFKOHFKWKLQGLH0|JOLFKNHLW9HUlQGHUXQJHQGXUFK
7KHDWHU XQG EHUKDXSW GXUFK /LWHUDWXU EHZLUNHQ ]X N|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² $XIJDEH ]X EHUQHKPHQ ª:LH PDQ HWZD LP )XEDOO 7RUFKDQFHQ !KHUDXV VSLHOW VR KDW %UHFKW PLW VHLQHQ 3DUDEHOQ :LGHU VSUFKH !KHUDXVJHVSLHOW IUHLOLFK VLFKHU DQ GHP IDO VFKHQ VR]LRORJLVFKHQ 2UW PLW GHQ IDOVFKHQ VR]LRORJL VFKHQ 0LWWHOQ YRQ GHU :LUNOLFKNHLW GLH HU lQGHUQ ZROOWH XQHQGOLFK HQWIHUQW GLH KLHUDUFKLVFKH 2UGQXQJ GHV 7KHDWHUV EHQXW]HQG XP DQGHUH KLHUDUFKLVFKH 2UGQXQJHQ KLHUDUFKLVFK ]X VW|UHQ NHLQHQ 5XKLJHQ KDW HU EHXQUXKLJW 8Q]lKOLJHQ IUHLOLFK HLQ SDDU VFK| QH 6WXQGHQ JHVFKHQNW =ZDU KDW HU GLH +DOWXQJHQ YRQ 6FKDXVSLHOHUQ JHlQGHUW QLFKW DEHU XQPLWWHOEDU GLH+DOWXQJHQYRQ=XVFKDXHUQXQGGDGXUFKGLH
+DOWXQJ GHU 6FKDXVSLHOHU VLFK ZHQLJVWHQV PLWWHOEDU GLH +DOWXQJ GHU =XVFKDXHU JHlQGHUW KDW LVW JHVFKLFKW OLFK IDOVFK© 6lW]H YRQ 3HWHU +DQGNH DXV HLQHU %H WUDFKWXQJ EHU 6WUDHQWKHDWHU XQG 7KHDWHUWKHDWHU HUVFKLHQHQ LP $SULOKHIW GHU =HLWVFKULIW 7KHDWHU KHXWH 'DV VWLPPW ZDV +DQGNH XQOLHE VHLQ GUIWH IDVW LP :RUWODXW EHUHLQ PLW $UJXPHQWHQ YRQ 0D[ )ULVFK DXV VHLQHU 5HGH YRP 2NWREHU EHU GDV 9HUKlOWQLV ]ZLVFKHQ $XWRU XQG 7KHDWHU ,Q EHLGHQ )lOOHQ GLH QDFKEUHFKWLVFKH 3RVLWLRQ GLH HLQH $QWLSR VLWLRQ VHLQ P|FKWH 0D[ )ULVFK EH]ZHLIHOW GD GDV %UHFKW7KHDWHU MHPDOV %HZXWVHLQ LP =XVFKDXHU YHU lQGHUW XQG GDV 9HUKDOWHQ GHV =XVFKDXHUV PRGLIL]LHUW KlWWH %UHFKW ZDU GHU 0HLQXQJ GHU QHXHQ DQWLDULVWR WHOLVFKHQ 'UDPDWXUJLH XQG HLQHU QHXHQ 6FKDXVSLHO NXQVW PVVH HLQH JOHLFKIDOOV HUVW ]X VFKDIIHQGH ² QHXH =XVFKDXNXQVW HQWVSUHFKHQ 'LH LVW DEHU ZHGHU PLW +LOIH GHV %HUOLQHU (QVHPEOHV QRFK GXUFK )UDQN IXUWHU RGHU 0DLOl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
&RPPXQH NRPSHQVLHUHQ 0D[ )ULVFK IROJHUWH GDUDXV XQG KDWWH LQ GLHVHU XQKLVWRULVFKHQ 9HUDOOJHPHLQH UXQJ VHLQHU 7KHVH JDQ] VLFKHU XQUHFKW ² 7KHDWHU N|Q QH QLHPDOV HLQH 9HUlQGHUXQJ LQ GHU :LUNOLFKNHLW EH ZLUNHQ :HU GDV IRUGHUH SUlVHQWLHUH HLQH XQUHLQOLFKH 0LVFKXQJ DXV 3ROLWLN XQG 3RHVLH $XFK %UHFKW KDEH QLH HWZDV DQGHUHV JHOLHIHUW DOV (LQELOGXQJVNUDIW RKQH 5HDOEH]XJIROJOLFK3RHVLH 3HWHU +DQGNH VWLPPW LQ GHQ SROHPLVFKHQ $EJUHQ ]XQJHQ ]X %UHFKW PLW )ULVFK EHUHLQ QLFKW DEHU VR ZHLW PDQ VLHKW LQ GHQ JUXQGVlW]OLFKHQ 7KHVHQ EHU GDV 9HUKlOWQLV ]ZLVFKHQ 7KHDWHU XQG :LUNOLFKNHLW 9HU PXWOLFK P|FKWH HU DXFK GHQ EHGHQNOLFKHQ )ROJHUXQ JHQ HQWJHKHQ GLH )ULVFK DOV 'UDPDWLNHU JH]RJHQ KDW :HQQ DOOHV 6FKUHLEHQ ]XP =ZHFN GHU 'DUVWHOOXQJ GXUFK LUJHQGZHOFKH $JLHUHQGH HV PVVHQ QLFKW LPPHU 6FKDXVSLHOHU VHLQ QXU $XVJHGDFKWHV ]X SURGX]LHUHQ LPVWDQGH LVW GDV VFKUDQNHQORV GLVSRQLEHO EOHLEW XQG JDQ] HQWEHKUOLFK GDQQ NDQQ PDQ ZDUXP QLFKW" VR JDU HLQ 6SLHO YHUIDVVHQ ZLH %LRJUDILH ZRULQ JH]HLJW ZLUG GD HLQ PLWWHOPlLJHU 0HQVFK VHLQ PLWWHOPl LJHV /HEHQ DXFK GDQQ QLFKW QDFK (UNHQQWQLV EHJDQ JHQHU )HKOHU ]X lQGHUQ JHZLOOW LVW ZHQQ HU GD]X GLH 0|JOLFKNHLW HUKLHOWH :DUXP VROOWH HU DXFK" 'LHVHP $EVLQNHQ LQ GLH XQYHUELQGOLFKH %DQDOLWlW HLQHP 3URGX]LHUHQ QlPOLFK GDV PDQ JHQDX VR JXW XQWHUODVVHQ N|QQWH ZLOO 3HWHU +DQGNH HQWJHKHQ 6HLQ (LQZDQG JHJHQ %UHFKW ]LHKW DXV GHU 8QZLUNVDP NHLW GHV %UHFKWWKHDWHUV EHL GHU 'DVHLQVYHUlQGHUXQJ QLFKW GLH )ROJHUXQJ GD VROFKH 7UDQVIRUPLHUXQJ GHU:LUNOLFKNHLWPLW+LOIHYRQ$XIJHVFKULHEHQHP
XQG *HVSLHOWHP XQP|JOLFK VHL VRQGHUQ IROJHUW VR 'HU )HKOHU %UHFKWV EHVWDQG QLFKW LP 8QWHUIDQJHQ GXUFK VFKULIWVWHOOHULVFKH $UEHLWHQ IU 9HUlQGHUXQJ ]X ZLUNHQ VRQGHUQ LQ GHU (QWVFKHLGXQJ IU XQWDXJOLFKH 0LWWHO %UHFKW KDWWH ]ZLVFKHQ GHP ² DEJHOHKQWHQ ² EUJHUOLFKHQ 7KHDWHU XQG HLQHP 7KHDWHU GHU QHXHQ 'UDPDWXUJLH 6FKDXVSLHO XQG =XVFKDXNXQVW XQWHU VFKLHGHQ +DQGNH VFKHLQW DXFK GLHVHV XPIXQNWLR QLHUWH 7KHDWHU LPPHU QRFK IU HLQ 7KHDWHU GHU %LO GXQJ XQG GHV %HVLW]HV ]X KDOWHQ 6REDOG MHPDQG DQ GLH .DVVH JHKW HLQH (LQWULWWVNDUWH O|VW LP YHUGXQNHO WHQ 6DDO VLW]W XQG HWZDV YRUJHVSLHOW HUKlOW GXUFK /HXWH GHUHQ 1DPHQ PDQ YRP =HWWHO DEOHVHQ NDQQ ZLUG ZLH +DQGNH GDV QHQQW ª7KHDWHUWKHDWHU© JH ERWHQ 'DV DEHU EOHLEW VFKOLHOLFK ZDV LPPHU EHDE VLFKWLJW VHLQ P|JH ªEORHV© 7KHDWHU (V LVW ZRKO PHKU DOV HLQ ]XIlOOLJHV =XVDPPHQWUHIIHQ ZHQQ JOHLFKIDOOV LP $SULO VLPXOWDQ PLW 3HWHU +DQG NHV $XIVDW] LQ 7KHDWHU KHXWH DXFK LQ )UDQNUHLFK HLQ EHPHUNHQVZHUWHU %HLWUDJ ]XP JOHLFKHQ 7KHPD SXEOL ]LHUW ZXUGH ,P $SULO+HIW GHU YRQ 6DUWUH KHUDXV JHJHEHQHQ =HLWVFKULIW /HV 7HPSV 0RGHUQHV YHU|IIHQW OLFKWH %HUQDUG 'RUW HLQH NULWLVFKH 8QWHUVXFKXQJ EHU /H @HX GX WKHDWUH HW GH OD UHDOLWH 'DV 6SLHO GHV 7KHD WHUV XQG GHU :LUNOLFKNHLW %HUQDUG 'RUW VWHKW DOV 7KHRUHWLNHU XQG 'UDPDWXUJ GHU IUDQ]|VLVFKHQ 9RONV EKQH QDKH GHP 7KHDWUH QDWLRQDO SRSXODLUH HU QDKP YRU NXU]HP DXFK DP %UHFKW.RQJUH LQ 2VW %HUOLQWHLO 6HLQH $QDO\VH DEHU IKUW LKQ ]X IROJHQGHU %HKDXS WXQJª+HXWHHUVF KHLQWXQVGDVVRJHQD QQWH 1HXH
7KHDWHU GHU IQI]LJHU -DKUH EHUHLWV DOV 0XVHXPVJH JHQVWDQG© 'DV 6WUHEHQ QDFK HLQHP YRONVWPOLFKHQ 6SLHOSODQ DOV LGHDOHP $XVGUXFN JHLVWLJHQ /HEHQV LQ HLQHP 9RON VHL QLFKWV DQGHUHV DOV HLQ ªVFK|QHU 0\ WKRV© 'LHVHU 6FKOX ZLUG JH]RJHQ ZHLO IU 'RUW GLH GUHL ZLFKWLJVWHQ GUDPDWXUJLVFKHQ .RQ]HSWH GHU OHW]WHQ -DKU]HKQWH KHXWH VFKRQ GLH *UHQ]HQ LKUHU 0|JOLFKNHLWHQ RIIHQEDUW KlWWHQ 'DUXQWHU YHUVWHKW HU GDV 7KHDWHU HLQHV QHXHQ 1DWXUDOLVPXV GDV DEVXUGH 7KHDWHU XQG %UHFKWV HSLVFKGLDOHNWLVFKH 'UDPDWXUJLH $XFK 'RUW YHUZHLVW DXI GHQ .RQWUDVW ]ZLVFKHQ %UHFKWV JHVHOOVFKDIWOLFKHP ,GHDO XQG GHQ VR]LDOLVWL VFKHQ 5HDOLWlWHQ YRQ KHXWH 'DUDXV IROJHUW HU ª,P JHZLVVHQ 6LQQH KDW HLQH $VVLPLOLHUXQJ XQG NXOWXUHOOH ,QWHJULHUXQJ GHU /HKUHQ YRQ %UHFKW VWDWWJHIXQGHQ ZDV DXI HLQH SROLWLVFKH (QWVWHOOXQJ KLQDXVOLHI 'LH HSLVFKH )RUP EHVLW]W ZHLWHUKLQ UHLFKH 0|JOLFKNHLWHQ DEHU PDQ PX VLH EHIUHLHQ YRP .OHLQJHOG HLQHV JH ]lKPWHQ%UHFKWLDQHUWXPV© :RPLW %HUQDUG 'RUW ]XU $XVJDQJVIUDJH VHLQHV $XI VDW]HV ]XUFNNHKUW GLH EHNDQQWOLFK DXFK HLQH %UHFKW IUDJH ZDU ª2E GDV 7KHDWHU GLH :LUNOLFKNHLW XQVHUHU =HLW ZLHGHU]XJHEHQ YHUP|JH RE HV DOVR MHQH :HOW ZRULQ ZLU OHEHQ DXI GLH %KQH EULQJHQ N|QQH© hEHU GHQ QHXHQ HQJOLVFKHQ 5HDOLVPXV EHU GLH 3DUD EHOVWFNH GDV 'RNXPHQWDUWKHDWHU GLH 9HUVXFKH YRQ 3HWHU :HLVV NRPPW 'RUW ]X GHU %HKDXSWXQJ GLH ZLFKWLJVWHQ GUDPDWLVFKHQ 0|JOLFKNHLWHQ LQ )UDQN UHLFK ELHWH GDV 7KHDWHUVFKDUIHQ YRQ -HDQ *HQHW XQG YRQ $UPDQG *DWWL %HL EHLGHQ $XWRUHQ QlPOLFK ZHUGHHLQHQHXH%H]LHKXQJ]X%KQHXQG3XEOLNXP
KHUJHVWHOOW *HQHW GHPROLHUH GLH ,OOXVLRQHQ VHLQHU =X VFKDXHU 6HLQ 7KHDWHU EULQJH QLFKW :LUNOLFKNHLW DXI GLH %KQH VRQGHUQ 7UlXPH GHU =HLWJHQRVVHQ YRQ GLHVHU :LUNOLFKNHLW *DWWL KLQJHJHQ EHWUDFKWH QDFK VHLQHQ HLJHQHQ :RUWHQ GDV 7KHDWHU DOV ªHLQ GDXHUQ GHV 0LWWHO ]XU %HIUHLXQJ QLFKW EOR YRQ 9RUXUWHL OHQ XQG 8QJHUHFKWLJNHLWHQ VRQGHUQ DXFK YRP .RQ IRUPLVPXV XQG JHZLVVHQ $UWHQ GHV 'HQNHQV GLH QLFKWVDQGHUHVVLQGDOV6lUJH© 'HU $QDO\WLNHU NRPPW ]X IROJHQGHP (UJHEQLV ª9RQ QXQ DQ PX PDQ GLH %HJULIIH GHU 6FK|SIXQJ XQG GHV GUDPDWLVFKHQ :HUNHV UHYLGLHUHQ 'HU 6FKZHUSXQNW GHU WKHDWUDOLVFKHQ 7lWLJNHLW KDW VLFK YHUlQGHUW HU LVW QLFKW PHKU DXI GHU %KQH RGHU LP 6WFN ]X ILQGHQ VRQGHUQ JHZLVVHUPDHQ LQ HLQHP %HUHLFK ]ZLVFKHQ %KQH XQG =XVFKDXHUUDXP RGHU JHQDXHU QRFK LP 6FKQLWWSXQNW YRQ 7KHDWHU XQG :HOW© 'DV LVW ]ZHLIHOORV ]DKPHU DOV EHL +DQGNH 'HU )UDQ ]RVH KlOW DQ GHU 6WUXNWXU XQG )XQNWLRQ GHV 7KHDWHU WKHDWHUV IHVW (LQ DQGHUHV 6SLHO DOV GDV LQ %KQHQ UlXPHQ VFKHLQW HU VLFK QLFKW YRU]XVWHOOHQ 6\PSWRPD WLVFKHU DEHU DOV GLH GLYHUJLHUHQGHQ )ROJHUXQJHQ HLQHV +DQGNH RGHU 'RUW VLQG GLH JHPHLQVDPHQ $QVlW]H LKUHV 'HQNHQV 8QEHKDJHQ KLQ RGHU KHU GD KHXWH LQ DOOHU :HOW XQG LQ UDGLNDOHU :HLVH EHU 1XW]HQ XQG 1DFKWHLO GHV EHUOLHIHUWHQ 7KHDWHUV EHUDWHQ ZLUG LVW XQYHUNHQQEDU $XFK EHL %HUQDUG 'RUW ILQ GHW VLFK HLQH XPIDVVHQGH 1HJDWLRQ GHV ELVKHULJHQ EUJHUOLFKHQ%LOGXQJVWKHDWHUV %UHFKW XQG GLH )ROJHQ %HL 0D[ )ULVFK GLH 5FNNHKU ]XP,GHDOLVPXV6FKLOOHUVQlPOLFK]XUVFKURIIGXDOL
VWLVFKHQ 7UHQQXQJ ]ZLVFKHQ .XQVW XQG /HEHQ %HL +DQGNH XUVSUQJOLFK LQ GHQ ª6SUHFKVWFNHQ© GHU VHOEH ,GHDOLVPXV GHU XQGLDOHNWLVFK GLH 6SUDFKH YRQ GHU 6DFKH GLH )RUP YRP ,QKDOW ]X WUHQQHQ VXFKWH 'DV VFKHLQW GHU HLQVWLJH 9HUIDVVHU HLQHU 6HOEVWEH]LFE WLJXQJ QXQ NRUULJLHUHQ ]X ZROOHQ ,GHDOLVWLVFK LVW DXFK +DQGNHV QHXH 3RVLWLRQ ZRQDFK 9HUlQGHUXQJ GXUFK 6SLHO EHZLUNW ZHUGHQ N|QQH GRFK XQWHU 9HU ]LFKW DXI GLH KHUN|PPOLFKHQ 0LWWHO NQVWOHULVFKHU 3URGXNWLRQ 'DV 6WUDHQWKHDWHU HLQHV )ULW] 7HXIHO GDV %HLVSLHO VWDPPW YRQ +DQGNH ² ELHWH 0|JOLFK NHLWHQ HLQHU QHXHQ 9HUELQGXQJ YRQ 6SLHO XQG :LUN OLFKNHLWVYHUlQGHUXQJ +LHU OLHJH GHPQDFK ZLH PDQ VFKOLHHQ GDUI GLH HLJHQWOLFKH %HIUHLXQJ %UHFKWV DXV GHP ,UUJDUWHQ VHLQHU PDWHULDOLVWLVFKHQ 'RNWULQ =XQlFKVW PDJ HLQJHZHQGHW ZHUGHQ GD DOO GLHVH )ROJHUXQJHQ EHL )ULVFK KLHU XQG +DQGNH GRUW XQ GHQNEDU ZlUHQ RKQH %UHFKWV 'UDPHQ XQG /HKUHQ $OOH KHXWLJHQ %HPKXQJHQ XP HLQ QHXHV 9HUKlOWQLV YRQ .XQVW XQG :LUNOLFKNHLW DOV hEHUZLQGXQJ GHV EUJHUOLFKHQ bVWKHWL]LVPXV VLQG VFKRQ LQ 0RVNDX XQG LQ %HUOLQ LQ GHQ ]ZDQ]LJHU -DKUHQ DQWL]LSLHUW ZRUGHQ (LQ 7KHDWHUDEHQG GHU UHLQHQ .QVWOLFKNHLW YHUJOHLFKEDU HLQHU *ROGRQL$XIIKUXQJ EHL 6WUHKOHU ZDU EHUHLWV YRQ $OH[DQGHU 7DLURII SUlVHQWLHUW ZRU GHQ PLW +LOIH GHV /LEUHWWRV HLQHU IUDQ]|VLVFKHQ 2SH UHWWH DXV GHP -DKUKXQGHUW 'DV 9RUELOG IU DOOH DNWXHOOSROLWLVFKHQ 'LVNXUVH DXI GHP 7KHDWHU GDPDOV QRFK ZHLWJHKHQG PLW H[SUHVVLRQLVWLVFKHQ 0LWWHOQ GDU JHERWHQ OLHIHUWH HLQH UXVVLVFKH 5HYXH ]XU FKLQHVLVFKHQ 5HYROXWLRQ%UOOH&KLQDODXWHWHGHU7LWHO6HUJHM
7UHWMDNRZ ZDU GHU 9HUIDVVHU DXFK HU ZXUGH XQWHU 6WDOLQ XPJHEUDFKW HEHQVR ZLH VHLQ 5HJLVVHXU 0H\HU KROG 2KQH GLHV DOOHV DEHU XQG RKQH 3LVFDWRUV $UEHL WHQ DP 1ROOHQGRUISODW] ZlUH GLH KHXWLJH %LODQ]LH UXQJ JDU QLFKW P|JOLFK 'HU %HJULII GHV ª6WUDHQ WKHDWHUV© ZDU %UHFKW HEHQVRZHQLJ IUHPG ZLH HU GHQ 5XVVHQ GHU ]ZDQ]LJHU -DKUH XQYHUWUDXW JHZHVHQ ZlUH 0DMDNRZVNL VFKULHE 6FKODJ]HLOHQ IU GLH :D UHQKDXVUHNODPH 3RHVLH HLQHV UHYROXWLRQlUHQ :HUEH IDFKPDQQHV %UHFKW KDW QRFK LQ GHU OHW]WHQ /HEHQV]HLW LP +HUUQEXUJHU %HULFKW HLQ (UHLJQLV GHU GDPDOLJHQ 'HXWVFKODQGSROLWLN 6FKLFNVDOH HLQHU ZHVWGHXWVFKHQ -XJHQGGHOHJDWLRQ EHL GHU 5FNNHKU YRQ HLQHP 2VW EHUOLQHU -XJHQGWUHIIHQ DOV 6SLHO DXI GHU 6WUDH XQG ]XP =ZHFN GHU DNWXHOOHQ ,QIRUPDWLRQ YHUIDW 0X VLNYRQ3DXO'HVVDX 7URW]GHP KLHOW GHU 9HUIDVVHU GHV 3DUDEHOVWFNV YRP *XWHQ 0HQVFKHQ YRQ 6H]XDQ DQ GHQ KHUN|PPOLFKHQ )RUPHQ GHV 7KHDWHUVSLHOV LQ 7KHDWHUUlXPHQ IHVW 0HKU QRFK %UHFKW OHJWH JU|WHQ :HUW GDUDXI GHQ .RQWUDVW ]ZLVFKHQ GHP ZDV GDUJHVWHOOW ZHUGHQ VROOWH XQG GHP 5DKPHQ GHU 7KHDWHUYHUDQVWDOWXQJ QLFKW ]X KDUPRQLVLHUHQ VRQGHUQ ]X DN]HQWXLHUHQ 'HP 7KHDWHU YRQ %LOGXQJ XQG %HVLW] KDWWH LPPHU QRFK GLH )RUP GHV 5DQJWKHDWHUV HQWVSURFKHQ $OV GDV %UJHUWXP GHQ )HXGDOLVPXV LQ GHU )XQNWLRQ GHU KHUUVFKHQGHQ .ODVVH DEO|VWH EHKLHOW HV GLH )RUPHQ HLQHU K|ILVFKHQ +LHUDUFKLH EHL XP VLH GXUFK IUHLZLO OLJH 6HOEVWNRQWUROOH EHL GHU VR]LDOHQ (LQVWXIXQJ ]X HUVHW]HQ 'HU EUJHUOLFKH 5HYROXWLRQlU 5LFKDUG :DJ QHUXPJHWULHEHQYRPVR]LDOLVWLVFKHQ8WRSLVPXV
WUlXPWH YRQ HLQHU QHXHQ *HPHLQVFKDIW GXUFK .XQVW JHQX MHQVHLWV GHU 6WlQGH XQG .ODVVHQ 'DV $PSKL WKHDWHU DOV GHPRNUDWLVFKHV ,GHDO +LHU LVW MHGHU 0HQVFK XQG GDUI HV VHLQ 'DV )HVWVSLHOKDXV IRUPLHUW HLQH NXOWLVFKH *HPHLQVFKDIW :LU NHQQHQ GLH (UJHE QLVVH DXFK RKQH GDV %D\UHXWKHU %HLVSLHO 'HP VR]LD OLVWLVFKHQ 8WRSLVPXV GHV ([SUHVVLRQLVWHQ YRQ HQWVSUDFK 0D[ 5HLQKDUGWV 0DVVHQWKHDWHU LP *URHQ 6FKDXVSLHOKDXV ]X %HUOLQ (JDOLWlUH 'HPRNUDWLH MH ZHLOVYRQELV8KUDEHQGV $XFK XQVHUHQ QHXHQ 7KHDWHUEDXWHQ LVW GLHVH XQNODUH JHVHOOVFKDIWOLFKH $XIJDEHQVWHOOXQJ DQ]XPHUNHQ $O OHQWKDOEHQ YHUVXFKW PDQ *HPHLQVFKDIW KHU]XVWHOOHQ +LHUDUFKLHQ DXV]XVFKDOWHQ GLH 5DPSH ]ZLVFKHQ $JLHUHQGHQ XQG %HWUDFKWHQGHQ ]X GHPROLHUHQ 'H PRNUDWLH LP bVWKHWLVFKHQ ZHLO VLH LP 6R]LDOHQ IHKOW %UHFKW PLWUDXWH DOOHGHP ,P 7KHDWHU DP 6FKLII EDXHUGDPP PXWHQ DOOH 6WXNNDWXUHQ VRUJIlOWLJ HU KDOWHQ EOHLEHQ 'HIHNWH 9HUJROGXQJHQ ZXUGHQ HU QHXHUW GLH /RJHQ VRUJIlOWLJ NRQVHUYLHUW $QGHUV DOV +DQGNH PHLQWH GHU *UQGHU GHV %HUOLQHU (QVHPEOHV GD GHU GLDOHNWLVFKH :LGHUVSUXFK ]ZLVFKHQ 5DKPHQ )RUP XQG ,QKDOW GHU 'DUELHWXQJ ]XU 6DFKH VHOEVW JH K|UH 'LH 5XVVHQ ZDUHQ DXFK GLHVPDO IROJHULFKWLJ DOV .RQVHUYDWRUHQ GHV EUJHUOLFKHQ XQG GHV ]DULVWLVFK K|ILVFKHQ 6WLOV LQ HLQHP 1RFK LKUH QHXHQ 7KHDWHU EDXWHQ ZHUGHQ DOV ,PLWDWLRQHQ DQJHOHJW 7HPSHO IU GLH lVWKHWLVFKH 5HOLJLRQ YRQ %LOGXQJ XQG %HVLW] :HOFKH &KDQFHQ DEHU KDW HLQ 7KHDWHU DXHUKDOE GHU 7KHDWHU PLWKLQ MHQVHLWV GHV lVWKHWLVFKHQ %HUHLFKHV" 0D[)ULVFKZUGHGLH)UDJHVWHOOXQJIUXQVLQQLJKDO
WHQ 6LH LVW HV DEHU QLFKW 'DV EHZHLVW QLFKW EOR GLH *HVFKLFKWH GHV :HOWWKHDWHUV PLW )DVWQDFKWVVSLHOHQ NXOWLVFKHQ $NWLRQHQ XQG 5LWXDOHQ PLW GHP +DQV :XUVW XQG GHP 0DULRQHWWHQWKHDWHU 'D DOOHQWKDO EHQ GLH KHXWLJHQ 'UDPDWLNHU DXI GLHVH NXOWLVFKHQ SOH EHMLVFKHQ REV]|QHQ *UXQGIRUPHQ ]XUFNJUHLIHQ ² EHL 3HWHU :HLVV XQG -HDQ *HQHW EHLP /LYLQJ 7KHDWUH RGHU LP 7KHDWHU GHU *UDXVDPNHLW EHLP 5HNXUV DXI GDV %DOOHWW GHQ =LUNXV XQG GDV (UHLJQLV VROOWH ]X GHQNHQJHEHQ (V JLEW QHXHUH %HLVSLHOH +DQGNH PHLQWH GDV HQJD JLHUWH 7KHDWHU ILQGH KHXWH QLFKW LQ 7KHDWHUUlXPHQ VWDWW VRQGHUQ LQ 6WXGHQWHQGHPRQVWUDWLRQHQ LQ GHU 8QLYHUVLWlW RGHU ªZHQQ 5HYROXWLRQlUH LKUH NOHLQHQ .LQGHU PLW ]XP 5HGQHUSXOW QHKPHQ© (LQ %HLVSLHO DXV GHU MQJVWHQ GHXWVFKHQ :LUNOLFKNHLW LVW DXFK lV WKHWLVFK UHOHYDQW PDQ N|QQWH HV IUHL QDFK $QGUHDV *U\SKLXV DOV GLH $EVXUGD FRPLFD YRQ )ULW] 7HXIHO XQG VHLQHQ 5LFKWHUQ EH]HLFKQHQ 'DV ZDU LP *H ULFKWVVDDO HLQ YROOHQGHWHV 6SLHO HEHQ GDGXUFK GD KLHU GLH $QJHNODJWHQ GLH ELVKHU JOWLJHQ 6SLHOUHJHOQ QHJLHUWHQ XQG QHXH 6SLHOIRUPHQ HUIDQGHQ EULJHQV DXFK GXUFKVHW]WHQ 'LHVH lVWKHWLVFKH 7UDQV]HQGLH UXQJ ZDU YRQ GHU 6XEVWDQ] KHU JHJHEH Q GHQQ /LWHUDWXU EHNDQQWOLFK HLQ )OXJEODWW PLW VDWLULVFKHU 8EHU]HLFKQXQJ ZHOFKHV VHLQH +HUNXQIW YRQ 6ZLIW QLFKW YHUOHXJQHWH ² ZDU YRP 6WDDWVDQZDOW DOV :LUN OLFKNHLW JHQRPPHQ XQG LQ GLH :LUNOLFKNHLW JH]HUUW ZRUGHQ :RUDXI GLH :LUNOLFKNHLW GHU -XULVGLNWLRQ LKUHUVHLWV LQ GLH /LWHUDWXU JH]HUUW ZXUGH LQ GHQ lV WKHWLVFKHQ%HUHLFK(VZDUHLQVFK|QHV6SLHOPLWJDQ]
QHXHQ 6SLHOUHJHOQ XQG HV NRQQWH DXFK JDU QLFKW DQ GHUV DEJHVFKORVVHQ ZHUGHQ DOV PLW HLQHP ªKDSS\ HQGLQJ© (V LVW DEHU NDXP ZLHGHUKROEDU 'LH 0|JOLFKNHLWHQ GHV :LUNOLFKNHLWVWKHDWHUV VLQG EHJUHQ]W $XHUGHP ELHWHQ VLFK ZHLO NHLQH UHOLJL|VH *HPHLQVFKDIW YRUKDQ GHQ LVW XQG DXFK QLFKW GXUFK KHLOLJH %FKHU HU]HXJW ZHUGHQ N|QQWH QXU .RP|GLHQVWRIIH GDU 'UUHQPDWW KDWWH JHPHLQW XQVHUHU =HLW NRPPH RKQHKLQ EOR QRFK GLH .RP|GLH EHL (U VFKULHE .RP|GLHQ PHLVW PLWYLHOHQ7RWHQ ,P 7KHDWHUWKHDWHU PDJ GDV ]XOlVVLJ VHLQ ,P 6WUDHQ WKHDWHU JHKW HV QLFKW DQ :LU VROOWHQ XQV KWHQ GLH 5ROOH GHV 6DLQW-XVW DXV 'DQWRQV 7RG ]X VSLHOHQ GHU 1DWXUNDWDVWURSKHQ VR GHXWHWH ª(LQH XQEHGHXWHQGH LP JURHQ *DQ]HQ NDXP EHPHUNEDUH 9HUlQGHUXQJ GHU SK\VLVFKHQ 1DWXU GLH IDVW VSXUORV YRUEHUJHJDQ JHQ VHLQ ZUGH ZHQQ QLFKW /HLFKHQ DXI LKUHP :HJH OlJHQ© (U ]RJ HLQHQ $QDORJLHVFKOX YRQ GHU 1DWXU NDWDVWURSKH ]XU UHYROXWLRQlUHQ $NWLRQ XQG IUDJWH ª6ROO GLH JHLVWLJH 1DWXU LQ LKUHQ 5HYROXWLRQHQ PHKU 5FNVLFKWQHKPHQDOVGLHSK\VLVFKH"© :HQQ HV DEHU 7RWH LQ GHU :LUNOLFKNHLW JLEW QLFKW EOR %KQHQOHLFKHQ LVW GHU 5DKPHQ GHV 6SLHOV JH VSUHQJW ,Q GLHVHP $XJHQEOLFN YROO]LHKW VLFK HLQH 7UHQQXQJ ]ZLVFKHQ GHU lVWKHWLVFKHQ XQG GHU HWKLVFKHQ 6SKlUH (V JLEW 6SLHOH LQ GHU :LUNOLFKNHLW JHVSLHOWH :LUNOLFKNHLW HV JLEW :LUNOLFKNHLW VSLHOHULVFK GDUJH ERWHQ DEHU PDQ NDQQ QLFKW PLW GHU :LUNOLFKNHLW VSLHOHQ 0DQ ZDU DXVJH]RJHQ GLH EUJHUOLFKH .XQVW ZHOWLQLKUHU6XEVWDQ]XQG)XQNWLRQ]XQHJLHUHQ
9HUlQGHUXQJHQ GHV *HVHOOVFKDIWVV\VWHPV GDV ]HLJWH VLFK KDEHQ YRQ VLFK DXV QLFKW GLH 6WUXNWXU GHV NXOWX UHOOHQ /HEHQV HQWVSUHFKHQG PRGLIL]LHUHQ N|QQHQ (V HQWVWDQG GLH $OWHUQDWLYH HLQHU .RQVHUYLHUXQJ GHU EUJHUOLFKHQ .XQVW LQ HLQHU QDFKEUJHUOLFKHQ *HVHOO VFKDIW RGHU HLQHU =HUVFKODJXQJ ELVKHULJHU 6WUXNWXUHQ $OOHLQ DXFK LP 3UR]H GHU 'HPROLHUXQJ ZXUGHQ *H VHW]OLFKNHLWHQ VLFKWEDU HWKLVFKH ZLH lVWKHWLVFKH 'HU $XJHQEOLFN LVW JHNRPPHQ EHU GLHVH QHXHQ XQG UDGL NDOHQ$OWHUQDWLYHQQDFK]XGHQNHQ
(V ELHWHQ VLFK DQ ]XU hEHUZLQGXQJ (LQPDO GLH WRWDOH bVWKHWLVLHUXQJ PD[LPDOHU 6SLHOFKDUDNWHU .XOW GHU $UWLVWLN XQG GHU 8QJODXEZUGLJNHLW 'DQQ GLH WR WDOH 6XERUGLQDWLRQ XQWHU QLFKWlVWKHWLVFKH (UZlJXQ JHQ ,QIRUPDWLRQ %HOHKUXQJ $XINOlUXQJ RKQH VSH ]LILVFKlVWKHWLVFKH 5HL]PLWWHO %HLGHV LVW QLFKW QHX XQG NDQQ DXI JHVFKLFKWOLFKH 9RUZHJQDKPHQ KLQZHLVHQ GLH ]X GHQNHQ JHEHQ ,P HLQHQ )DOOH VSLHOW GLH .|QL JLQ 0DULH$QWRLQHWWH 7RFKWHU GHU 0DULD 7KHUHVLD LP *DUWHQWKHDWHU ]X 7ULDQRQ HLQ 6WFN PLW GHP 7LWHO )LJDURV +RFK]HLW ZHQQJOHLFK VLH HUNDQQW KDW GD PLW GLHVHP 6WFN LKUH HLJHQH ([LVWHQ] QHJLHUW ZHUGHQ VROO 0DQ JODXEW DEHU QLFKW GDUDQ GD HLQ 7KHDWHU VWFN LPVWDQGH VHL GLH :LUNOLFKNHLW ]X YHUlQGHUQ 'HU ZHLWHUH +HUJDQJ LVW EHNDQQW 2GHU DEHU 'LH 3XULWDQHU GHV 2OLYHU &URPZHOO VWU ]HQ GDV .|QLJWXP HQWKDXSWHQ GHQ .|QLJ XQG VFKOLH HQ GLH 7KHDWHU 1RFK PHKU DOV KXQGHUW -DKUH VSlWHU YHUWHLGLJWH GHU *HQIHU ,GHRORJH HLQHU UDGLNDOHQ 'H PRNUDWLH -HDQ-DFTXHV 5RXVVHDX GHQ %HVFKOX GHU *HQIHU&DOYLQLVWHQHLQHP7KHDWHUVSLHOGLH*HQHK
PLJXQJ ]X YHUVDJHQ ,Q GHQ EHLGHQ )lOOHQ LVW GHU ZHL WHUH +HUJDQJ EHNDQQW 'LH +HUUVFKDIW GHU 3XULWDQHU EUDFK EDOG QDFK &URPZHOOV 7RGH ]XVDPPHQ 'LH *H JHQUHYROXWLRQ ]RJ ZLHGHU HLQ XQG |IIQHWH GLH 7UHQ ]XP %KQHQUDXP 0DQ EH]HLFKQHW GLHVH (SRFKH DOV GDVª7KHDWHUGHU5HVWDXUDWLRQV]HLW©
1LFKW QXU GLH bUD YRQ %LOGXQJ XQG %HVLW] LVW MHW]W ]X (QGH $XFK YLHOH DQGHUH $QWLWKHVHQ ZXUGHQ HUSUREW ² XQG KLQIlOOLJ :LU KDEHQ GLH 7KHDWHUIRUPHQ GHU 1DFKDKPXQJ XQG GHU GXUFK *URWHVNH XQG $EVXUGL WlW YHU]HUUWHQ 1LFKWLPLWDWLRQ GHU :LUNOLFKNHLW DXV SURELHUW 'LH 6FKDXEKQH DOV PRUDOLVFKH XQG DOV XQ PRUDOLVFKH $QVWDOW (LQ 7KHDWHU GHU *UDXVDPNHLW XQG GHU :ROOXVW 9HUPLVFKXQJ YRQ 6SLHO XQG 1LFKW VSLHO 6SLHOH DOV GLUHNWH $NWLRQ XQG DOV :HLWHUIK UXQJ GHV DOWHQ 7KHDWHUWKHDWHUV $EHU 6SLHO ZDU HV GRFKLPPHUZLHGHU 6LFKWEDU ZXUGHQ DQJHVLFKWV UDVFK ZHONHQGHU ,GHROR JLHQ GLH *UHQ]HQ IU GLH KHXWLJHQ =XVFKDXHU $GRU QRV 8QPXWVZRUW QDFK $XVFKZLW] VHL GDV *HGLFKW QLFKW PHKU P|JOLFK ZXUGH VR RIW UHSHWLHUW GD HV IDVW VFKRQ ]XP ª-DUJRQ GHU (LJHQWOLFKNHLW© JHK|UW %H UHFKWLJW MHGRFK HUVFKHLQW PLU GLH NDXP JHVWHOOWH )UDJH ]X VHLQ RE VHLW GHU 5HDOLWlW $XVFKZLW] QRFK 7UDJ| GLHQ JHVFKULHEHQ XQG JHVSLHOW ZHUGHQ VROOWHQ $XVFK ZLW] DXI GHU %KQH 5ROI +RFKKXWK GHPRQVWULHUWH XQIUHLZLOOLJ ZRKLQ GDV IKUW 3HWHU :HLVV LQ GHU (UPLWWOXQJ ZDU YRUVLFKWLJHU HU YHUIUHPGHWH GDV 5HDOJHVFKHKHQ GXUFK GLH 1DFKZHOWSHUVSHNWLYH GHQ *HULFKWVVDDOGLHRUDWRULVFKH6SUDFKIRUP %OLHEHDOVRQXUGLH.RP|GLH.RP|GLHIUHLOLFKLVW
RKQH *HOlFKWHU QLFKW P|JOLFK :HU DEHU ODFKW XQG ZRUEHU" ,Q %HUJVRQV EHUKPWHU $EKDQGOXQJ EHU GDV /DFKHQ ZLUG EHKDXSWHW LQ GHU .RP|GLH ODFKH HLQ 3XEOLNXP GDV VLFK LP VLFKHUHQ %HVLW] JHVHOOVFKDIW OLFKHU 6SLHOUHJHOQ ZHL EHU $XHQVHLWHU XQG QRUP ZLGULJHV 9HUKDOWHQ 'DV ZDU LQIDP DEHU ZLUNVDP YRQ 0ROLHUH ELV 6WHUQKHLP $OOHLQ EHL GHVVHQ 6]HQHQ DXV GHP EUJHUOLFKHQ +HOGHQOHEHQ ZXUGH DXFK VFKRQ HLQH QHXH $UW VSUEDU 'HU 'UDPDWLNHU YHU]LFKWHWH DXI GDV (LQYHUVWlQGQLV PLW GHU HWDEOLHUWHQ *HVHOO VFKDIW WUDW DOV $XHQVHLWHU DXI XQG ]ZDQJ HLQ 3XEOL NXP DXV %LOGXQJ XQG %HVLW] EHU GDV %KQHQWUHLEHQ YRQ %LOGXQJ XQG %HVLW] ]X ODFKHQ 6R HQWVWDQGHQ +RUYDWKV XQJHPWOLFKH *HPWOLFKNHLWHQ XQG GLH -DJGV]HQHQ DXV 1LFGHUED\HUQ YRQ 0DUWLQ 6SHUU ,Q )UDQNUHLFK JLQJHQ $UWDXG XQG *HQHW QRFK ZHLWHU 'D HQWVWDQG HLQ QRUPZLGULJHV 7KHDWHU JDQ] RKQH JH VHOOVFKDIWOLFKHV (LQYHUVWlQGQLV JHVFKDIIHQ PLW GHP =LHO GDV ªQRUPDOH© 3XEOLNXP LP 3DUNHWW ]X YHU VW|UHQ 6SLHO EOLHE DXFK GDV QRFK $XFK GDV (QGVSLHO GDV JDQ] EHVRQGHUV EOHLEW 6SLHO ª$OVR MHW]W ELQ LFK GUDQ© GDV ZHL +DPP EHL %HFNHWW ZHQQ GHU 'LHQHU ZLH VWHWV GDV 6WLFKZRUW JHOLHIHUW KDW 'LH 0RUJHQQDFKULFKWHQ EHULFKWHQ MHGHQ 7DJ YRP ZHLWHUHQ 7UHLEHQ GHV KRPR VDSLHQV XQG GHV KRPR IDEHU 9RP KRPR OXGHQV SIOHJWH GDV )HXLOOHWRQ ]X NQGHQ (UVW QHXHUGLQJV GULQJW HU ]XU 6SLW]H GHU 1DFKULFKWHQ YRU :LOO HV DEHU QLFKW VFKHLQHQ DOV VHLHQ ZLU QDFK VR YLHO )RUPHQ XQG 8PZHJHQ ZLHGHU EHL *HGDQNHQ6FKLOOHUVEHUGDV7KHDWHUDQJHODQJW"%HL
OHLEH QLFKW EHL GHU 0DQQKHLPHU 5HGH EHU GLH 6FKDX EKQH GLH DOV PRUDOLVFKH $QVWDOW ]X EHWUDFKWHQ VHL 'LHVHU 1DFKIROJH KDW VLFK ZRKO QXU 5ROI +RFKKXWK XQG LP $OOHLQJDQJ YHUVFKULHEHQ %HGHQNHQVZHUW DEHU EOHLEHQ 6FKLOOHUV WLHIVLQQLJH %H WUDFKWXQJHQ EHU PHQVFKOLFKH 0|JOLFKNHLWHQ LP 6SLHO -H EHZXWHU XQG OHLGHQVFKDIWOLFKHU JHVSLHOW ZLUG RKQH GD GLH 6SLHOUHDOLWlW WUDQV]HQGLHUW ZUGH XPVR ZLUNVDPHU O|VW VLFK GHU KHXWLJH 0HQVFK DXV GHP =X VWDQG GHU 6HOEVWHQWIUHPGXQJ 'DV 6SLHO ZLUG LKP ]XU 6HOEVWEHJHJQXQJ 6R ODQJH DEHU QLFKW LQ GHU :LUNOLFK NHLW MHQVHLWV GHU bUD YRQ %LOGXQJ XQG %HVLW] MHQH 9RUDXVVHW]XQJHQ JHVFKDIIHQ ZXUGHQ GLH HLQ (QGH PDFKHQ PLW GHU 6HOEVWHQWIUHPGXQJ EOHLEW QXU GDV 6SLHO 2E LQ 7KHDWHUUlXPHQ RE DXI GHU 6WUDH ZDV OLHJW GDUDQ" 1XU LP 6SLHO RIIHQEDUW VLFK ZDV VRQVW YHUGHFNW LVW GXUFK *HVFKZlW] XQG %HGUIWLJNHLW )UHLKHLWXQG0HQVFKOLFKNHLW
.DVSDUGHU)UHPGHXQGGHU=XIDOO /LWHUDULVFKH$VSHNWHGHU(QWIUHPGXQJ )U):2HO]H
'HU .DVSDU GHP VHLQ $XWRU 3HWHU +DQGNH NHLQH *DWWXQJVEH]HLFKQXQJ PLW DXI HLQHQ :HJ JLEW YRQ ZHOFKHP NHLQHVZHJV DXVJHPDFKW LVW RE HV EHUKDXSW HLQ :HJ ]XU %KQH VHLQ VROO EHQXW]W VHLQH 6FKOX DQVSUDFKH GD]X QDFK GHP 9RUELOG NODVVLVFKHU 'UD PDWXUJLH GHP 3XEOLNXP ]X ]HLJHQ ZDV HU OHUQWH XQG ZRULQ VLFK VHLQH ª:DQGOXQJ GHV +HOGHQ© YROO]RJ *HOHUQW KDW HU GLH JlQJLJHQ 9RNDEHOQ DEHU HLQ 5HVW YRQ :LGHUVHW]OLFKNHLW EOLHE (U OHLVWHW ]ZDU DOV JH OHKULJHU /HVHU YRQ :HKUPDFKWV XQG 3ROL]HL%HULFK WHQ ªNHLQHQ QHQQHQVZHUWHQ :LGHUVWDQG© KDW JOHLFK ]HLWLJ MHGRFK PLW]XWHLOHQ ª,FK KDEH PLFK VHOEHU QRFK HUOHEW© 'DV ZLOO VDJHQ HU KDW HLQH ([LVWHQ] RKQH 0DQLSXODWLRQ JHNDQQW GLH (ULQQHUXQJ GDUDQ LVW LKP JHEOLHEHQ =ZDU OlW VLFK GLH (LQIOVWHUHL GHU HWD EOLHUWHQ .DVSDUV PLWKLQ DXFK VHLQH HLJHQH QLFKW UFN JlQJLJ PDFKHQ DOOHLQ GLHVHU .DVSDU SUlVHQWLHUW VLFK DP (QGH GHV /HKU XQG /HUQSUR]HVVHV DOV EORHV *H ZRUGHQVHLQ QLFKW DOV WRWDO YHUGLQJOLFKWH )RUP HLQHU WRWDO PDQLSXOLHUWHQ ([LVWHQ] 'DV OlW ZHLWHUH 6W| UXQJHQEHIUFKWHQ 'LH EOHLEHQ QLFKW DXV 'LH DQGHUHQ .DVSDUV RKQH :LGHUVHW]OLFKNHLW XQG RKQH GDV (UOHEQLV HLQHV QRFK QLFKW LQWHJULHUWHQ 'DVHLQV YROOIKUHQ ZLH +DQGNHV $QPHU NXQJPLWWHLOWªHLQH QLPP HUK|OOLVFKHUH Q
/lUP© 'DQQ LVW 6WLOOH ª6LH ]DSSHOQ QRFK HLQ ZHQLJ 6LH VFKQIIHOQ© +XQGH VFKQIIHOQ XP GHQ DQGHUHQ +XQG ]X EHULHFKHQ +LHU ZLUG QDFK GHP $QGHUVVHLQ JHVFKQIIHOW .DVSDUV *HUXFK VFKHLQW QLFKW ZRKOJHIlO OLJ ]X VHLQ 'D PX GHU 9RUKDQJ IDOOHQ (U PDFKW ªHLQHQ HUVWHQ NOHLQHQ 5XFN JHJHQ GLH 0LWWH ]X ZR GLH .DVSDUV ]DSSHOQ© 5XFNZHLVH LQ (WDSSHQ VFKOLHW HU VLFK HQGOLFK ªPLW GHP VFKULOOVWHQ DOOHU P|JOLFKHQ *HUlXVFKH© 'HU 9RUKDQJ ZLUIW ªGLH *HVHOOVFKDIW XP© $XFK GHQ EHVFKQIIHOWHQ ]XOHW]W QRFK UHGHQGHQ .DVSDU 6\Q FKURQ DEHU PLW GHP UXFNDUWLJ IDOOHQGHQ 9RUKDQJ KDW GHU QRFK HLQHQ 6DW] DUWLNXOLHUHQ N|QQHQ 1DFK VRYLHO (LQJHOHUQWHP XQG 9HUGLQJOLFKWHP QRFK HLQPDO HLQ *HJHQVWFN ]X ªVHLQHP© 6DW] ZRPLW HU ² GHU (LQ]LJH XQG VHLQ (LJHQWXP ]X %HJLQQ GHV *HVFKHKHQV K|U EDU JHZRUGHQ ZDU (U KDWWH VHLQHQ 6DW] IHVWKDOWHQ ZROOHQ DOOHLQ GHU ZXUGH LKP ªQDFK XQG QDFK GXUFK GDV 6SUHFKHQ DQGHUHU 6lW]H DXVJHWULHEHQ© 6HLQ 6DW] KDWWH JHODXWHW ª,FK P|FKW HLQ VROFKHU ZHU GHQ ZLH HLQPDO HLQ DQGUHU JHZHVHQ LVW© 'DV ZDU GHU %HJLQQ JHZHVHQ HLQHU PRGHUQHQ ª(GXFDWLRQ VHQWL PHQWDOH© 'HU .RPSOHPHQWlUVDW] DP 6FKOX SDW GD]X XQG ODXWHW ª,FK ELQ QXU ]XIlOOLJ LFK© -H GHV GLHVHU :|UWHU LVW V\QFKURQLVLHUW ]X HLQHU 3KDVH GHV IDOOHQGHQ 9RUKDQJV -HGHV ZXUGH EHKDIWHW PLW HLQHP 'RSSHOSXQNWEOLHEDOVRRIIHQIU)ROJHUXQJHQ'HU L 'HU 6DW] ZXUGH YRQ + DQGNH LQ VSlWHUHQ $XVJDEHQ GHV 6WFNHV JHVWULFKHQ ZDV IU GLH YRUOLHJHQGH 8QWHUVXFKXQJ MHGRFK RKQH %HGHX WXQJ EOHLEW GD KLHU NHLQH ,QWHUSUHWDWLRQ GHV 6WFNHV.DVSDU EHDEVLFK WLJWZXUGH
:HJ YRP ,FK ]XP ,FK LVW K|FKVW OFNHQKDIW $OOHQW KDOEHQ SIHLIW GHU :LQG KLQGXUFK 'HU 'RSSHOSXQNW DP 6FKOX LVW JOHLFK]HLWLJ )UDJH XQG *HZLKHLW 'D IU KDW QRFK GLH (ULQQHUXQJ JHVRUJW -HPDQG ZDU PLW VHLQHP HLJHQHQ 6DW] GHU QXU IU LKQ VHOEVW JDOW DOVR ZHGHU LQIRUPDWLY ZDU QRFK NRPPXQLNDWLY DXI GHU 6]HQH HUVFKLHQHQ (U KDWWH VLFK QRFK VHOEVW HUOHEW 'HV KDOE DOOHLQ YHUPRFKWH HU ]X HUNHQQHQ GD GLHVHV ,FK QXU HLQ ]XIlOOLJHV VHL 'LH (UNHQQWQLV DEHU HLQHU VRO FKHQ .RQWLQJHQ] LVW IU .DVSDU QLFKW .DSLWXODWLRQ VRQGHUQ QHXH ]XNQIWLJH :LGHUVHW]OLFKNHLW :HU VLFK VHOEVW DOV ]XIlOOLJ ZHL VWHKW GDPLW TXHU ]X HLQHU *H VHOOVFKDIW GLH DOOH 9RUJlQJH DOV QRWZHQGLJ EHKDXSWHW 8PHVQRFKVFK|QHU]XVDJHQDOVªRUJDQLVFK©
'HU =XIDOO ,Q VHOWVDPHU :HLVH NRQWUDVWLHUW GLH $Q UXIXQJ GHV =XIDOOV GXUFK GLHVHQ ª.DVSDU© GHV -DKUHV PLW IUKHUHQ 5HIOH[LRQHQ EHU GLH 5ROOH GHU .RQWLQJHQ] LQ HLQHU VFKHLQEDU IHVWJHIJWHQ *H VHOOVFKDIW :LH =XIDOO ]X YHUVWHKHQ VHL GDV ZDU GHQ EUJHUOLFKHQ $XINOlUHUQ GHV -DKUKXQGHUWV QLFKW ]ZHLIHOKDIW =XIlOOH GHU *HEXUW HWDEOLHUWHQ GLH 8Q JOHLFKKHLW XQWHU GHQ 0HQVFKHQ )U 5RXVVHDX HQW VSUDQJ GDUDXV DOOHU .XOWXUYHUIDOO DXFK ZHQQ HU VLFK QRFK VR VWDUN DOV ]LYLOLVDWRULVFKHV 5DIILQHPHQW JHULH UHQ PRFKWH =XIDOO EHGHXWHWH 3ULYLOHJ DOVR 8QJOHLFK KHLW 'HU *UDI $OPDYLYD ² VR DUJXPHQWLHUW )LJDUR EHL %HDXPDUFKDLV XQG 0R]DUW KWHWH VLFK ZRKO GLH VHQ UHEHOOLVFKHQ 0RQRORJ PLW]XNRPSRQLHUHQ KDEH DOOHV 3ULYLOHJLHQWXP PLW (LQVFKOX GHV 5HFKWV DXI GLH HUVWH1DFKWPLWHLQHUGHU8QWHUWDQLQQHQEORGHP
=XIDOO ]X YHUGDQNHQ ª6LH KDEHQ VLFK EOR GLH 0KH JHJHEHQ JHERUHQ ]X ZHUGHQ© DOV *UDI QlPOLFK 'DV ZLUG ZHQLJH -DKUH YRU $XVEUXFK GHU )UDQ]|VLVFKHQ 5HYROXWLRQ KLQJHVFKULHEHQ =ZHL -DKUH YRU GHP %D VWLOOH6WXUP VFKUHLEW GHU GHXWVFKH .XOWXUWKHR UHWLNHU XQG (U]lKOHU .DUO 3KLOLSS 0RULW] 9HUIDVVHU HLQHV ªSV\FKRORJLVFKHQ 5RPDQV© EHU GLH 6FKLFNVDOH YRQ $QWRQ 5HLVHU LQ VHLQHQ )UDJPHQWHQ DQV GHP 7DJHEXFKH HLQHV *HLVWHUVHKHUV ª,VW HWZDV XQJH]ZHL IHOW =XIDOO VR LVW HV GLH *HEXUW XQG GHU =XVDPPHQ KDQJ GHU 'LQJH LQ ZHOFKHQ GHU 0HQVFK GDGXUFK YHU VHW]W ZLUG 'DV 6FKLFNVDO GHU PHLVWHQ 0HQVFKHQ LVW VFKRQ JHPDFKW HKH VLH JHERUHQ VLQG 8QG ZDV KDW XQV DQGHUV ]X 6NODYHQ GHV =XIDOOV HUQLHGULJW DOV GLH PHQVFKOLFKHQ (LQULFKWXQJHQ VHOEVW ZRGXUFK HLQH *H QHUDWLRQ GHU lQGHUQ )HVVHOQ DQOHJW GLH LPPHU KlUWHU ZHUGHQ MH QlKHU VLFK GLH 0HQVFKHQ DQHLQDQGHU VFKOLH HQ ,VW QLFKW GLH XQEHVFKDGHW LKUHU )RUWGDXHU XQG )RUWSIODQ]XQJ K|FKVWP|JOLFKH 9HUHLQ]HOXQJ GHU 0HQVFKHQ YLHOOHLFKW GHU HLQ]LJH =XVWDQG ZRULQ VLH QRFKJOFNOLFKVHLQN|QQWHQ"© ,PPHU QRFK ZLUG DXFK YRP GHXWVFKHQ $XINOlUHU 0R ULW] GHU =XIDOO DOV VFKlQGOLFKHV 3ULYLOHJ HPSIXQGHQ $OOHLQ EHL 0RULW] ILQGHW VLFK DXFK VFKRQ GHU .RPSOH PHQWlU*HGDQNH GD GLHVH .RQWLQJHQ] HLQHV GXUFK =XIlOOH GHU *HEXUW GHWHUPLQLHUWHQ ,QGLYLGXXPV JOHLFK]HLWLJ HLQHQ 6FKXW] EHGHXWHW $XFK GHU YRP =X IDOO 1LFKWSULYLOHJLHUWH HUOHEW LQ HLQHU UDWLRQDO QLFKW ]X UHFKWIHUWLJHQGHQ (LQ]HOH[LVWHQ] VHLQ *OFN XQG VHLQH :UGH (U LVW ² GDQN GLHVHP =XIDOO ² JHVHOO VFKDIWOLFKQXUVFKZHU]XLQWHJULHUHQVHLHVLQGHQ
6WDWXV GHU +HUUVFKHQGHQ VHL HV GHU %HQDFKWHLOLJ WHQ 'LHVH JUHOOH %HOLFKWXQJ DEHU GLH 0RULW] SO|W]OLFK IDVW EHU ]ZHL -DKUKXQGHUWH KLQZHJ PLW KHXWLJHQ 0HGLWDWLRQHQ EHU =XIDOO XQG JHVHOOVFKDIWOLFKH 8Q RUGQXQJ YHUELQGHW ZLUG QLFKW ]XP /LFKW HLQHU DOOJH PHLQHQ$XINOlUXQJLQ'HXWVFKODQG
'LH URPDQWLVFKH 6FKXOH PDFKW VLFK IUK VFKRQ GDUDQ GHQ =XIDOO DE]XVFKDIIHQ DOV RUJDQLVFKH 1RWZHQGLJ NHLW XP]XGHXWHQ DXV HLQHP 6NDQGDOHQ GHU 8QJOHLFK KHLW LQ HLQ (OHPHQW DOOJHPHLQHU XQG GDPLW IDVW XQ EH]ZHLIHOEDUHU(JDOLWlW]XYHUZDQGHOQ
1RYDOLV LQVEHVRQGHUH NDQQ VLFK QLFKW JHQXJ WXQ LQ 0HGLWDWLRQHQ EHU GLH ,QWHJUDWLRQ GHV =XIDOOV LQQHU KDOE HLQHV VHL HV J|WWOLFK YRUJHJHEHQHQ VHL HV GXUFK .XQVW ]X VFKDIIHQGHQ 2UGQXQJVV\VWHPV ª$XFK GHU =XIDOO LVW QLFKW XQHUJUQGOLFK HU KDW VHLQH 5HJHO PlLJNHLW© KHLW HV LQ GHQ 1HXHQ )UDJPHQWHQ GHV )ULHGULFK YRQ +DUGHQEHUJ 1U .XU] GDUDXI XQWHU GHU 1U ZLUG GLH )ROJHUXQJ GDUDXV JH]R JHQ ª$OOHU =XIDOO LVW ZXQGHUEDU ² %HUKUXQJ HLQHV K|KHUQ :HVHQV HLQ 3UREOHP 'DWXP GHV WlWLJ UHOL JL|VHQ6LQQV© 'DUXP YHUP|JH ªZHU GHQ UHFKWHQ 6LQQ IU GHQ =X IDOO KDW© DXV VFKHLQEDU =XIlOOLJHP ZLH ª6DQGN|U QHUQ 9RJHOIOXJ XQG )LJXUHQ© HLQHQ =XIDOO ELVKHU QRFK XQEHNDQQWHU $UW DXV]XPDFKHQ 0DQ NDQQ PLW KLQ QDFK 0HLQXQJ GHV 1RYDOLV VSLHOHQG PLW GHP =X IDOO H[SHULPHQWLHUHQ (U VHOEVW QHQQW GDV 6SLHO VFKOHFKWKLQ HLQ ([SHULPHQWLHUHQ PLW GHP =XIDOO )UHLOLFKVHW]WHUGDEHLLPP HUHLQHXQEH]ZHLIHOWH
7UDQV]HQGHQ] YRUDXV =XIDOO LVW ZXQGHUEDU LQ LKP RIIHQEDUWVLFKK|KHUHV:HVHQ 'LH *HJHQULFKWXQJ ]XU EUJHUOLFKHQ $XINOlUXQJ LVW HYLGHQW 'DV 'HQNHQ GHV 1RYDOLV LVW DXFK KLHU DULVWR NUDWLVFK JOHLFK]HLWLJ DOV :LGHUVSUXFK YHUVWDQGHQ ]X GHQ .DWHJRULHQ GHU $XINOlUXQJ +DUGHQEHUJV +RKQ EHU :LOKHOP 0HLVWHUV /HKUMDKUH JLSIHOW LQ GHP 9RU ZXUI GDV %XFK VHL GHU ªQRELOLWLHUWH 5RPDQ© HLQHV EUJHUOLFKHQ (PSRUN|PPOLQJV hEHUGLHV VHL HU ª|NR QRPLVFK DQJHOHJW© ELHWH QLFKWV DOV ªSRHWLVFKH 0DVFKL QHULH© 8P HV DEVFKOLHHQG ]X VDJHQ ª!:LOKHOP 0HL VWHQ LVW HLJHQWOLFK HLQ !&DQGLGH JHJHQ GLH 3RHVLH JH ULFKWHW© :DV GRFK ZRKO KHLHQ VROO DXFK *RHWKHV %LOGXQJVURPDQ LVW $XINOlUXQJ NRPPW DXV GHU 6FKXOH GHV 9ROWDLUH SURWHVWLHUW JHJHQ GLH 7KHRGL]HH 9RO WDLUH KDWWH QRFK GHQ =XIDOO GHV (UGEHEHQV YRQ /LVVD ERQ DOV 6NDQGDOHQ GHU 9HUQXQIW HPSIXQGHQ LP &DQGLGH ZXUGH GLH :HOW ZRULQ 9ROWDLUH ]X OHEHQ KDWWH DOV SULYLOHJLHUW NRQWLQJHQW XQG XQYHUQQIWLJ SUlVHQWLHUW IHUQ DOOHU /HLEQL]LDQLVFKHQ +DUPRQLH ,QGHP 1RYDOLV GHQ :LOKHOP 0 HLVWHU DOV )ROJHUXQJ DXV GHP &DQGLGH VFKPlKW ZLUIW HU DXFK *RHWKH GLH DXIJHNOlUWH %HNlPSIXQJ GHV =XIDOOV YRU 'HU 9HU IDVVHU GHU /HKUMDKUH :LOKHOP 0HLVWHUV KDW RIIHQEDU LP *HJHQVDW] ]XP 9HUIDVVHU GHV *HJHQURPDQV +HLQ ULFK YRQ 4IWHUGLQJHQ NHLQHQ ªUHFKWHQ 6LQQ IU GHQ =XIDOO© 'HQ ELOOLJW 1RYDOLV VL FK V HOEVW M HGRFK ]X 8 QWHU 1U GHU )UDJPHQW6DPPOXQJ %OWHQVWDXE QRWLHUW HU ª$OOH =XIlOOH XQVHUV /HEHQV VLQG 0DWHULDOLHQ DXV GHQHQZLUPDFKHQN|QQHQZDVZLUZROOHQ:HUYLHO
*HLVW KDW PDFKW YLHO DXV VHLQHP /HEHQ -HGH %H NDQQWVFKDIW MHGHU 9RUIDOO ZlUH IU GHQ GXUFKDXV *HLVWLJHQ HUVWHV *OLHG HLQHU XQHQGOLFKHQ 5HLKH $Q IDQJ HLQHV XQHQGOLFKHQ 5RPDQV© $EHUPDOV GLH DULVWRNUDWLVFKH JHJHQUHYROXWLRQlUH $W WLWGH =XIlOOH GHU *HEXUW VLQG ZHGHU 3ULYLOHJ QRFK 6NDQGDO 6LH JHEHQ GHP GXUFK =XIDOO LQ GLH :HOW *H VHW]WHQ GLH &KDQFH GDUDXV HWZDV ]X PDFKHQ 'LH 2UGQXQJ GHU :HOW LVW IROJOLFK QLFKW JHVHOOVFKDIWOLFK HWDEOLHUW VRQGHUQ ZLUG GXUFK XQHQGOLFK YLHOH 6XE MHNWH PHKU RGHU ZHQLJHU SODQYROO VWHWV YRQ QHXHP KHUJHVWHOOW $XV =XIlOOHQ HQWVWHKW IU 1RYDOLV GLH ªHLJHQWOLFKH 2UGQXQJ© $QIDQJ HLQHV XQHQGOLFKHQ 5RPDQV $XINOlUXQJ EHNlPSIWH GHQ =XIDOO DOV 8QJOHLFKKHLW JHJHQUHYROXWLRQlUH GHXWVFKH 5RPDQWLN UHSUlVHQWLHUW GXUFK LKUHQ ªKHLPOLFKHQ .DLVHU© ZLH *RHWKH GHQ 1RYDOLV JHQDQQW KDW VLHKW DOOH VFKHLQEDUHQ =XIlOOH DOV 7HLO HLQHU K|KHUHQ 2UGQXQJ XQG DOV 3UlPLH IU GHQ GXUFK =XIDOO GHU *HEXUW XQG GHV *HLVWHV YRU DQ GHUHQ DXVJH]HLFKQHWHQ 0HQVFKHQ 'HQ $XINOlUHUQ ZDU GHU =XIDOO HLQ $QOD ]XP .lPSIHQ GHQ *HJHQ DXINOlUHUQ HLQHU ]XP %HZDKUHQ ,Q GHQ 6FKLFNVDOVGUDPHQ 7ULYLDOURPDQHQ XQG UR PDQWLVFKHQ 2SHUQ GLH JOHLFK HLQHU 0RGHNUDQNKHLW GDV EUJHUOLFKH %LOGXQJVZHVHQ LQ 'HXWVFKODQG VHLW %HJLQQ GHV -DKUKXQGHUWV EHIDOOHQ XQG ZROOVWLJ VFKUHFNHQ LVW GLH UHDNWLRQlUH .RPSRQHQWH HLQHV 'H WHUPLQLVPXV PKHORV ]X HQWGHFNHQ ZHOFKHU GHQ $E ODXI GHV 'DVHLQV LQ MHGHP )DOO DOV YRUKHU HWDEOLHUW GHPRQVWULHUHQP|FKWH:LOOHQVEHWlWLJXQJEHUKDXSW
MHJOLFKH $NWLRQ LVW VLQQORV HV NRPPW GRFK ZLH HV NRPPHQ VROO 'LHVHU 0RGH IU|QW 6FKLOOHU LQ GHU %UDXW YRQ 0HVVLQD QLFKW ZHQLJHU DOV *ULOOSDU]HU PLW GHU VXEOLPLHUWHQ XQG VR HUIROJUHLFKHQ 6FKDXHUGUDPDWLN VHLQHU $KQIUDX 'DV GHXWVFKH %UJHUWXP JHVFKUHFNW GXUFK (ULQQHUXQJHQ DQ 5REHVSLHUUH )DOOEHLO XQG IUDQ]|VLVFKH %HVDW]XQJVPDFKW OHLVWHW PLW 3HWHU +DQGNHV .DVSDU ]X VSUHFKHQ ªNHLQHQ QHQQHQVZHU WHQ :LGHUVWDQG© (V QLPPW ² GLH 6FKLFNVDOVOLWHUDWXU GLH GHQ =XIDOO ZHJHVNDPRWLHUWH OLELGLQ|V JHQLHHQG GLH /HKUH PLW :LGHUVWDQG VHL ]ZHFNORV :HQQ HW ZDV HLQWUHWHQ VROO ZHU KDW GDUEHU HQWVFKLHGHQ" VR WULWW HV HLQ $XFK WULIIW HV ZLH LP 1DFKKLQHLQ IHVW JHVWHOOW ZHUGHQ NDQQ DOV 8QJOFN VWHWV GLH 5LFK WLJHQ ,P YHUORJHQVWHQ XQG GDUXP HUIROJUHLFKVWHQ 6WFN GLHVHU 6FKLFNVDOVGUDPDWLN GHU HLQDNWLJHQ 7UDJ|GLH 'HU YLHUXQG]ZDQ]LJVWH )HEUXDU YRQ =DFKDULDV :HU QHU YHUELQGHW VLFK 6FKLFNVDOVDEHUJODXEH RVWHQWDWLY PLW GHP SROLWLVFKHQ 4XLHWLVPXV 'LH OLHEHQ (OWHUQ .XQ] XQG 7UXGH LP HLQVDPHQ $OSHQZLUWVKDXV GHU 6FKZHL] W|WHQ GHQ OLHEHQ 6RKQ .XUW GHU XQHUNDQQW DOV 5HLVHQGHU ]X LKQHQ NDP 6LH EHULFKWHQ GHP VFKHLQ EDU)UHPGHQYRQHLQHP8QJHUDWHQHQ ª6FKRQRIWZDUDXVGHU6FKXOHHUHQWVSUXQJHQ 0HLQ2KPWDWLQGLH/HKULKQEHLHLQHP+DQGZHUNV PDQQ $XFKGHPHQWOLHIHU|IWHUVGRFKNDPHUZLHGHUGDQQ :HLODOOHVQXQPLWLKPVFKLHQPLJHOXQJHQ 7DWLKQGHU2KP]XVHLQHU.RUUHNWLRQ
,QV$UEHLWVKDXVGDOLHIHUJDQ]GDYRQ (VZDUJHUDGDPYLHUXQG]ZDQ]LJVWHQ)HEUXDU $OWZDUHUGDPDOVK|FKVWHQVYLHU]HKQ-DKU 'UDXILVWHULQGHU5HYROXWLRQ :LHDXV3DULVDQPHLQHQ2KPVLHVFKULHEHQ ,FKJODXEHDOV6ROGDWJHEOLHEHQ²©
(LQ $XVUHLHU DUEHLWVVFKHX OlXIW ]X GHQ )UDQ]RVHQ EHU JHUlW LQ GLH 5HYROXWLRQ OHEHQVXQZHUWHV /HEHQ $OOHV DEHU JHVFKLHKW VWHWV DP YLHUXQG]ZDQ]LJVWHQ )H EUXDU ª8QG NDP HLQ 8QIDOO GHU GDV +HU] WUDI ZDU HV VWHWV DP YLHUXQG]ZDQ]LJVWHQ )HEUXDU© 'LH JOHLFKH JHLVWLJH .RQVWHOODWLRQ LP )UHLVFKW] YRQ &DUO0DULD YRQ :HEHU XQG )ULHGULFK .LQG 'LH 0X VLN LVW LP WLHIVWHQ (LQYHUVWlQGQLV PLW GHP 7H[W DXFK PLW GHVVHQ EHGHQNOLFKHQ $VSHNWHQ (LQH VlNXODUL VLHUWH %UJHUZHOW WXW VLFK DXI ZRULQ GLH HLJHQWOLFKH 7HXIHOHL GHP 0HQVFKHQ YRP 0HQVFKHQ DQJHWDQ ZLUG 'DKHU GLH EHVWU]HQGH $QKlXIXQJ YRQ 5RKHLW XQG 8QYHUQXQIW LP 9HUODXI GHU 2SHUQKDQGOXQJ 6HUYLOL WlW YRU GHP )UVWHQ 5RKHLW GHV 6FKW]HQN|QLJV JH JHQEHU GHP XQWHUOHJHQHQ 0D[ NOlJOLFKHV -XQJPlG FKHQOHEHQ KLHUDUFKLVFKHV =XVDPPHQZLUNHQ YRQ )UVW XQG (UHPLW ZHOWOLFKHU XQG JHLVWOLFKHU 2EULJNHLW (LQH XQHUO|VWH:HOW 'DUXP DXFK ZLUG YRQ GHQ )LJXUHQ GHU 2SHU GLH 1DWXU DOV XQHUO|VW XQG EHGURKOLFK HPSIXQGHQ 6LH LVW DOOHQWKDOEHQ YHUPHQVFKOLFKW 1DWXUNDWDVWURSKHQ ZHUGHQ LQ GHU :ROIVVFKOXFKW ]XU EORHQ $QVFKlUIXQJ EHQXW]W GDPLW GLH )UHLNXJHO GHP 6FKW]HQ 0D[ ]X (KHIUDXXQGEUJHUOLFKHU9HUVRUJXQJYHUKHOIHQNDQQ
$OOHV LVW GHWHUPLQLHUW ² XQG DOOHV NRQVSLULHUW PLWHLQ DQGHU 1DWXU XQG *HVHOOVFKDIW +LPPHO XQG +|OOH VLQG EORH (UZHLWHUXQJHQ HLQHU DXVZHJORVHQ /HEHQV ZHLVH GLH QXU DP 6FKOX GXUFK HLQ ELFKHQ /LFKW GHU $XINOlUXQJ EHVFKLHQHQ ZLUG GHU )UVW ZLUG YRQ QXQ DQ DXI GLH GXUFK hEHUOLHIHUXQJ JHKHLOLJWH (LQULFK WXQJ GHV +RFK]HLWVVFKXVVHV YHU]LFKWHQ 0DQ EHJUHLIW ZDUXP +HLQH %RUQH 3ODWHQ XQG ,P PHUPDQQ PLW VROFKHP +RKQ XQG +D JHJHQ GDV OLWH UDULVFKH 6FKLFNVDOVXQZHVHQ LPPHU ZLHGHU DXI]XWUHWHQ VXFKWHQ :HU GLH 'HWHUPLQDWLRQ EHVDQJ XQG GHQ =X IDOO ZHJ]X]DXEHUQ YHUVXFKWH YHUKLHOW VLFK UHVWDXUD WLY ]X GHQ GHXWVFKHQ =XVWlQGHQ 'LH :LHGHUHQWGHN NXQJ GHV =XIDOOV EHGHXWHWH GDPLW :LGHUVHW]OLFKNHLW JHJHQEHU GHU RIIL]L|V JHZRUGHQHQ SROLWLVFKHQ 5R PDQWLN HEHQVR ZLH (QW]DXEHUXQJ GHU GXUFK $UPXW *RWWHVIXUFKW XQG $EHUJODXEHQ VR ODQJH JHEDQQWHQ 9RONVVFKLFKWHQ $XFK EHL *HRUJ %FKQHU ZLUG GHU =XIDOO ZWHQG HYR]LHUW DOOHLQ HV LVW DEHUPDOV GHU +D GHV $XINOlUHUV XQG 5HYROXWLRQlUV JHJHQ GLH =X IlOOH XQG 3ULYLOHJLHQ GHU *HEXUW *HRUJ %FKQHU VLHKW VLH ZLH HU LQ %ULHIHQ XQG LP +HVVLVFKHQ /DQG ERWHQ YHUNQGHW ZHQLJHU DOV VFKlQGOLFKHQ $ULVWR NUDWLVPXV GHV 6WDQGHV GHQQ DOV ª$ULVWRNUDWLVPXV GHV *HLVWHV© =XIlOOLJ VLQG IU LKQ %LOGXQJ XQG *HOHKU VDPNHLW HEHQVR ZLH 'XPSIKHLW XQG 8QZLVVHQKHLW =XIDOO ZLUNW IU GHQ 'RNWRU GHQ +DXSWPDQQ GHQ 7DPERXU0DMRU XQG JHJHQ GHQ DUPHQ )UDQ] :R\ ]HFN =XIDOO EHGHXWHW LPPHU QRFK 3ULYLOHJLXP $OOHLQ %FKQHU WHLOW QLFKW PHKU GHQ 2SWLPLVPXV GHU IUKH UHQ$XINOlUHU=ZDULVWHUZHLWHQWIHUQWYRQURPDQ QR
WLVFKHU 6FKLFNVDOVJOlXELJNHLW DOOHLQ DXFK EHL LKP ILQ GHW VLFK GLH GLDOHNWLVFKH 6SDQQXQJ ]ZLVFKHQ =XIDOO JOHLFK 3ULYLOHJ XQG GHWHUPLQLHUWHQ 8PVWlQGHQ GLH RIIHQEDUQLFKW]XlQGHUQVLQG %HL $OEHUW &DPXV OLHVW GHU =XIDOOVP|UGHU 0HXUVDXOW GHU )UHPGH DOVR LP =HLWXQJVEODWW GDV HU VLFK ]X YHU VFKDIIHQ ZXWH XQG GDV HU XQWHU GHP 6WURKVDFN VHLQHV %HWWHV YHUVWHFNW KlOW LPPHU ZLHGHU HLQH VRQGHUEDUH *HVFKLFKWH 0DQ EHILQGHW VLFK PLW GLHVHP 5RPDQ GHQ GHU MXQJH &DPXV QRFK YRU $XVEUXFK GHV =ZHLWHQ :HOWNULHJV HQWZDUI PLWWHQ LP -DKUKXQGHUW LP KHLPDWOLFKHQ 1RUGDIULND GHV (U]lKOHUV EHUGLHV $OOHLQ HV LVW HLQH *HVFKLFKWH GLH =DFKDULDV :HUQHU ]X %HJLQQ GHV -DKUKXQGHUWV DOV 6FKLFNVDOVGUDPD JH VWDOWHW KDWWH :HUQHU VFKRQ KDWWH VLFK DXI HLQHQ 7RSRV YHUODVVHQ GHU (UIROJ YHUKHLHQ PXWH GLH 9HUZHFKV OXQJVJHVFKLFKWH IDQG VLFK EHUHLWV EHLP (QJOlQGHU /LOOR LQ VHLQHP %OXQW KDWWH DXFK .DUO 3KLOLSS 0RULW] GDUDQ KHUXPNRPSRQLHUW EHLP .|QLJVEHUJHU =DFKD ULDV :HUQHU VSLHOWH VLH LQ GHQ 6FKZHL]HU %HUJHQ 0HXUVDXOW OLHVW YRQ HLQHU 6FKDXHUVWRU\ DXI WVFKHFKL VFKHP%RGHQ 0DQ NHQQW GLH 6WRU\ %HL &DPXV OLHVW VLH VLFK IROJHQ GHUPDHQ ª(LQ 0DQQ KDWWH VHLQ WVFKHFKLVFKHV 'RUI YHUODVVHQ XP UHLFK ]X ZHUGHQ 1DFK IQIXQG]ZDQ ]LJ -DKUHQ LVW HU UHLFK NHKUW ]XUFN PLW )UDX XQG .LQG 6HLQH 0XWWHU XQG 6FKZHVWHU XQWHUKDOWHQ HLQ +RWHO LP KHLPDWOLFKHQ 'RUI 8P VLH ]X EHUUDVFKHQ KDW HU )UDX XQG .LQG LUJHQGZR DQGHUV XQWHUJHEUDFKW ZDU EHL VHLQHU 0XWWHU HUVFKLHQHQ GLH LKQ EHLP (LQ WUHWHQQLFKWHUNDQQWKDWWH$OV6SDNDPHUDXIGHQ
P
*HGDQNHQ HLQ =LPPHU ]X PLHWHQ (U KDWWH VHLQ *HOG JH]HLJW ,Q GHU 1DFKW KDWWHQ LKQ 0XWWHU XQG 6FKZH VWHU PLW GHP +DPPHU QLHGHUJHPDFKW XP LKQ ]X EH UDXEHQ GDQQ KDWWHQ VLH GLH /HLFKH LQ GHQ )OX JH ZRUIHQ $P 0RUJHQ ZDU VHLQH )UDX JHNRPPHQ KDWWH DKQXQJVORV HQWKOOW ZHU GHU *DVW JHZHVHQ ZDU 'LH 0XWWHU KDWWH VLFK HUKlQJW GLH 6FKZHVWHU KDWWH VLFKLQHLQHQ%UXQQHQJHVWU]W© 6R UHVPLHUW 0HXUVDXOW GLH *HVFKLFKWH &DPXV KDW VLH VSlWHU EHNDQQWOLFK XQWHU GHP 7LWHO /H 0DOHQ WHQGX GUDPDWLVLHUW ,Q GHU GUDPDWLVFKHQ )DVVXQJ LVW GLH 0RUGVDFKH QXU $XVJDQJVSXQNW IU GLH JURH XQG ILQDOH $XVHLQDQGHUVHW]XQJ ]ZLVFKHQ )UDX XQG 6FKZH VWHU GHV HUPRUGHWHQ *DVWHV =ZHLIDFKHV VFKDUI DQW DJRQLVWLVFKHV /HLG VWHOOW DP 6FKOX GLH )UDJH QDFK *RWW QDFK GHP 0LWOHLG QDFK GHP 6LQQ 'HU DOWH 'R PHVWLN GHQ PDQ VLFK DOV OLHEHQ *RWW YRUVWHOOHQ PDJ NRPPW DXI GHQ 5XI KLQ 'HU %LWWH XP 0LWOHLG XQG +LOIH DQWZRUWHW HU ªPLW NODUHU XQG IHVWHU 6WLPPH© 'LH$QWZRUWLVW1HLQ ,P 5RPDQ 'HU )UHPGH HUVFKHLQW DP 6FKOX NHLQ OLH EHU *RWW ZLH LPPHU HU DXVVHKHQ XQG DQWZRUWHQ P|JH 0HXUVDXOW OHEW GHP 3UR]H 8UWHLO )DOOEHLO HQWJHJHQ (U QLPPW LQ *HGDQNHQ DOOHV YRUZHJ $P 6FKOX EHGLHQW HU VLFK GHU ELEOLVFKHQ :HQGXQJ ]X DWKHLVWLVFKHQ =ZHFNHQ ZHQQ HU VLFK IU GHQ $XJHQ EOLFN GHU +LQULFKWXQJ ªGDPLW DOOHV YROOEUDFKW ZHU GH© YLHOH =XVFKDXHU ZQVFKW GLH GDV +LQULFKWXQJV LQVWUXPHQW XPODJHUQ XQG GHQ 'HOLQTXHQWHQ PLW +DJHVFKUHLHPSIDQJHQ :DVEHGHXWHWGLH*HVFKLFKWHYRPW|GOLFKHQ0LYHU
VWlQGQLV IU 0HXUVDXOW XQG &DPXV VR GD GHU 0|U GHU LQ VHLQHU =HOOH QLFKW VDWW ZLUG VLH VWHWV QHX ]X OH VHQ XQG ]X EHUGHQNHQ" 'LH 6WRU\ KDQGHOW YRP E|VHQ :DOWHQ GHV =XIDOOV 'HU 0|UGHU XQG )UHPGOLQJ 0HXUVDXOW DEHU VLHKW VLFK LQ VHLQHU =HOOH JOHLFKIDOOV DOV (UJHEQLV YRQ ODXWHU =XIlOOLJNHLWHQ ,Q GHU *HVFKLFKWH YRQ GHU 5FNNHKU GHV YHUORUHQHQ 6RKQHV LQ %|KPHQ ZXUGH HLQHU GXUFK =XIDOO HUPRUGHW 0HXUVDXOW KDW GXUFK =XIDOO JHPRUGHW (U YHUVXFKW VLFK IU GLH =HL WXQJVJHVFKLFKWH HLQHQ 6LQQ ]XUHFKW]XOHJHQ GHQ HU LQ VHLQHP HLJHQHQ ª)DOO© GXUFKDXV QLFKW ]X HQWGHFNHQ YHUPDJ =ZLVFKHQ VHLQHU $OOWDJVOHEHUHL YRP (LQ WUHIIHQ GHV 7HOHJUDPPV GLH 0XWWHU VHL JHVWRUEHQ ELV ]XP 1LHGHUVFKLHHQ GHV $UDEHUV XQG HLQHP *H ULFKWVYHUIDKUHQ EHL GHP HV XP GHQ .RSI JHKW VLHKW HU QXU =XIlOOH SXQNWXHOOH $NWLRQHQ NHLQH 8UVlFK OLFKNHLWHQ 'D HU DQ GHU /HLFKH GHU 0XWWHU HLQHQ .DIIHH WUDQN GHQ PDQ LKP DQERW QDFK GHU %HHUGL JXQJ LQV .LQR JLQJ QRFK GD]X LQ HLQHQ /XVWVSLHOILOP IU LKQ ZDUHQ GDV DOOHV /HEHQVPRPHQWH RKQH YRUDQ JHKHQGH /HEHQVªHQWVFKHLGXQJHQ© RKQH YRUDXVJHKHQ GH 5HIOH[LRQ ZHLW HQWIHUQW YRQ DOOHP ZDV GHU -XULVW DOV ª9RUVDW]© ]X EH]HLFKQHQ SIOHJW 0HXUVDXOW KDWWH QLHPDOV YRUVlW]OLFK JHOHEW 1XQ VLQG DOOH GLHVH SXQN WXHOOHQ +DQGOXQJHQ IU GLH 8PZHOW ]X *OLHGHUQ HLQHU .DXVDONHWWH JHZRUGHQ (V VLQG YRQ QXQ DQ ,Q GL]LHQ :HU HEHQ GLHV IU VLFK VHOEVW OHXJQHW KDW NHLQH %H GHQNHQ GLH *HVFKLFKWH DXV GHP =HLWXQJVEODWW VR ]X EHXUWHLOHQ ZLH DQGHUH =HLWXQJVOHVHU GHQ )DOO 0HXU VDXOWLQWHUSUHWLHUHQª,FKKDEHGLHVH*HVFKLFKWHZRKO
WDXVHQGPDO JHOHVHQ (LQHUVHLWV ZDU VLH XQZDKUVFKHLQ OLFK $QGHUHUVHLWV ZDU VLH QDWUOLFK $XI DOOH )lOOH IDQG LFK GHU 5HLVHQGH KDEH HV HLQ ELFKHQ YHUGLHQW XQG GD PDQ QLHPDOV VSLHOHQ VROO© ª(W TX LO QH IDXW MDPDLV MRXHU© 'HU VR DUJXPHQWLH UHQGH 0HXUVDXOW YHUNQGHW GDPLW HLQH *HJHQWKHVH ]X 1RYDOLV -HQHU KDWWH DOOHV 6SLHOHQ DOV HLQ ª([ SHULPHQWLHUHQ PLW GHP =XIDOO© JHQDQQW GHU )UHPGH GHV $OEHUW &DPXV P|FKWH =XIDOO XQG 6SLHO VWUHQJ YRQHLQDQGHU JHWUHQQW ZLVVHQ :HU VSLHOW LVW LP %H JULII GHQ =XIDOO ]X YHUXQUHLQLJHQ ZR VLFK .DONO ZLH EHLP *OFNVVSLHO PLW GHP =XIDOO HLQOlW LKQ JOHLFKVDP EHUHFKHQEDU PDFKW XQG LQWHJULHUW KDW GLH JHOWHQGH 2UGQXQJ JHVLHJW 'DQQ PX VFKHLQEDUHU =XIDOO ZLH 0HXUVDXOW LKQ HUOHEHQ VROO DOV 7HLO HLQHU IHVWJHIJWHQ JHVHOOVFKDIWOLFKHQ 2UGQXQJ YHUVWDQGHQ ZHUGHQ 'DQQ LVW GLH *HVHOOVFKDIW XQG GLH :HOW LQ JUlOLFKHP 6LQQH EHWHLOLJW XQG PRWLYLHUW GHU )UHPGH LVW NHLQHU PHKU (U JHK|UW GD]X XQG VWHKW QLFKW PHKU DXHUKDOE 0HXUVDXOW DEHU ZLOO )UHPGOLQJ EOHLEHQ QLFKW LQWH JULHUW ZHUGHQ $OV HU NXU] YRU GHU +LQULFKWXQJ LQ HLQHP :XWDXVEUXFK GHQ 3ULHVWHU YHUMDJW KDW IKOW HU VLFK HQGOLFK IUHL *H|IIQHW KDW HU VLFK ]XP HUVWHQ 0DOHªDODWHQGUHLQGLIIHUHQFHGXPRQGH© 'HU )UHPGH KDW VLFK ELV ]XP $XJHQEOLFN GHU +LQULFK WXQJ GDV 5HFKW DXI GHQ =XIDOO LQ VHLQHP /HEHQ EH ZDKUW ,Q 3DUDSKUDVH MHQHV 6DW]HV GHV .DVSDU EHL +DQGNH N|QQWH HU DXVUXIHQ ª,FK ELQ QXU ]XIlOOLJ HLQ0|UGHU© 9RQGHUJHVFKLFKWOLFKHQ.RQVWHOODWLRQKHUJHVHKHQ
HUUHLFKHQ &DPXV XQG QDFK LKP +DQGNH GHU VHLQHQ &DPXV VRUJIlOWLJ JHOHVHQ KDW GLH lXHUVWH *HJHQSR VLWLRQ VRZRKO ]X GHQ EUJHUOLFKHQ $XINOlUHUQ ZLH GHQ UHJUHVVLYHQ GHXWVFKHQ 5RPDQWLNHUQ 'HU =XIDOO LVW NHLQ 6NDQGDORQ VRQGHUQ HLQ YHUWHLGLJHQVZHUWHV 3UL YLOHJ LQ HLQHU VFKHLQEDU WRWDO PDQLSXOLHUWHQ XQG GH WHUPLQLHUWHQ :HOW :HU VLFK ZHLJHUW GLH HWDEOLHUWHQ 6SLHOUHJHOQ ]X EHDFKWHQ NHLQH 6FKHX KDW YRU GHP 9RU ZXUI GHU 9HUDQWZRUWXQJVORVLJNHLW ZHU 0LOFKNDIIHH WULQNW ZHQQ LKP GDQDFK LVW REJOHLFK HV VLFK LQ MHQHP $XJHQEOLFN QLFKW VFKLFNW ZHU DOVR QLFKW SODQPlLJ OHEW VRQGHUQ VLFK JHKHQ OlW YHUWHLGLJW VLFK GDPLW JH JHQ HLQH WRWDOH *HVHOOVFKDIW GLH DXFK LKQ WRWDO YHUHLQ QDKPHQ P|FKWH 6LQQJHEXQJ GXUFK *HVHOOVFKDIW ZLUG YHUZHLJHUW 'LH :HOW LVW JOHLFKJOWLJ RGHU LQGLIIHUHQW ]lUWOLFK LQ HLQHP 3RFKHQ DXI GHQ =XIDOO EHGHXWHW 3URWHVW 1XU GLH WRWDOH *HVHOOVFKDIW NDQQ GHQ 9HUVXFK DQVWUHEHQ GHQ =XIDOO DE]XVFKDIIHQ 9RQ 1RWZHQGLJ NHLW VWDWW YRQ =XIDOO VSUHFKHQ ² IU &DPXV QXU VRO FKH GLH DXI 5HYROWH OlQJVW YHU]LFKWHW KDEHQ 'HU )UHPGH EHDQVSUXFKW VHLQ 5HFKW DXI GHQ =XIDOO =X IDOO XQG 5HYROWH VLQG HQJ PLWHLQDQGHU YHUNQSIW 'LH $NWXDOLWlW XQG 5HQDLVVDQFH GHV $OEHUW &DPXV LQ GHU 3DULVHU 0DL5HYROWH YRQ ZLUG YHUVWlQGOLFK 6LH LVW ² SDUDGR[HUZHLVH GXUFKDXV QLFKW PLW GHP =XIDOO ]XHUNOlUHQ
,Q VHLQHU EHUKPWHQ ,QWHUSUHWDWLRQ GHV 5RPDQV 'HU )UHPGH YRQ &DPXV GLH VFKRQ LP )HEUXDU HU VFKLHQ DOVR PLWWHQ LP .ULHJ KDW -HDQ3DXO 6DUWUH GHQ%HJULIIGHV)UHPGHQGHQ7LWHOPLWKLQGHV5R
PDQV DXV GHU GDPDOLJHQ .RQVWHOODWLRQ ]X GHXWHQ YHU VXFKW ª'HU )UHPGH GHQ HU VFKLOGHUQ ZLOO LVW JHUDGH HLQHU MHQHU VFKUHFNOLFKHQ 8QVFKXOGLJHQ ZHOFKH GLH *HVHOOVFKDIW LQ $XIUXKU YHUVHW]HQ ZHLO VLH VLFK QLFKW DQ GHUHQ 6SLHOUHJHOQ KDOWHQ (U OHEW XQWHU )UHPGHQ LVW DEHU DXFK IU VLH HLQ )UHPGHU *HUDGH GHVKDOE ZHUGHQ GLH HLQHQ LKQ OLHEHQ ZLH HWZD 0DULH VHLQH *HOLHEWH GLH ]X LKP KlOW !ZHLO HU VR ZXQGHUOLFK LVW ZlKUHQG DQGHUH LKQ DXV GHP JOHLFKHQ *UXQGH YHUDE VFKHXHQ ZLH MHQH 0HQVFKHQPHQJH LP 6FKZXUJHULFKW GHUHQ +D LKP SO|W]OLFK HQWJHJHQVFKOlJW 8QG ZLU VHOEVW GLH ZLU GLHVHV %XFK OHVHQ XQG ]XQlFKVW PLW GHP *HIKO IU GDV $EVXUGH QRFK QLFKW YHUWUDXW VLQG ZLU ZUGHQ YHUJHEOLFK YHUVXFKHQ LKQ QDFK XQVHUHQ EOL FKHQ 0DVWlEHQ ]X EHXUWHLOHQ DXFK IU XQV LVW HU HLQ )UHPGHU© 6DUWUH NRQIURQWLHUW GDV 5RPDQJHVFKHKHQ XP 0HXU VDXOW PLW GHP YRQ &DPXV NXU] QDFK (UVFKHLQHQ GHV 5RPDQV YROOHQGHWHQ SKLORVRSKLVFKHQ 7UDNWDW EHU GHQ DQWLNHQ 0\WKRV YRP 6LV\SKRV 'LH *HVFKLFKWH GHV )UHPGHQ YHUPLWWHOH VR 6DUWUH HLQ *HIKO IU GDV $EVXUGH 'HU 7UDNWDW YRP 6LV\SKRV GDJHJHQ EULQJH GDV $EVXUGH DXI %HJULIIH 'LH $EVXUGLWlW GHU *HVFKLFKWH 0HXUVDXOWV DEHU EHUXKW IU 6DUWUH GHU VLFK KLHU ]XQlFKVW DOOHU HLJHQHQ 3KLORVRSKLH ZHLWJHKHQG HQWKlOW DXI GHU )RUPDOVWUXNWXU GHU (U]lKOXQJ ª'DV $EVXUGH LVW 6SDOWXQJ LVW IHKOHQGH hEHUHLQVWLPPXQJ )ROJOLFK LVW !'HU )UHPGH HLQ 5RPDQ GHU IHKOHQGHQ hEHUHLQVWLPPXQJ GHV *HWUHQQWVHLQV XQG GHV )UHPG VHLQV 'DKHU DXFK VHLQ JHVFKLFNWHU $XIEDX HLQHUVHLWV GHUDOOWlJOLFKHDPRUSKH)OXHUOHEWHU:LUNOLFKNHLW
DQGHUHUVHLWV GLH 5HNRQVWUXNWLRQ GLHVHU :LUNOLFKNHLW GXUFK GLH PHQVFKOLFKH 9HUQXQIW XQG GXUFK GLH 5HGH 'HU /HVHU GHU ]XQlFKVW GHU UHLQHQ :LUNOLFKNHLW JH JHQEHUJHVWHOOW ZLUG ILQGHW GLHVH :LUNOLFKNHLW UDWLR QDO XPJHIRUPW ZLHGHU RKQH VLH DEHU ZLHGHU]XHUNHQ QHQ 'DUDXV HQWVWHKW GDQQ GDV *HIKO GHV $EVXUGHQ GK GDV *HIKO XQVHUHU 8QIlKLJNHLWGLH *HVFKHKQLVVH GHU :HOW PLW XQVHUHQ %HJULIIHQ PLW XQVHUHQ :RUWHQ ]X!GHQNHQ© 0DQ NDQQ LQ GHU 7DW NRQVWDWLHUHQ GD LQ GHP 5R PDQ / (WUDQJHU GLH 7KHPDWLN LQ EHUUDVFKHQGHU :HL VH IRUPELOGHQG ]X ZHUGHQ YHUPRFKWH 'HP .RQWUDVW ]ZLVFKHQ GHQ VWHWV XQPRWLYLHUWHQ MlK HPSRUVFKLHHQ GHQ (LQ]HOKDQGOXQJHQ RKQH .DXVDO]XVDPPHQKDQJ XQG =ZHFNEHVWLPPXQJ VWHKW LPPHU ZLHGHU HLQH QDFK WUlJOLFKH ,QWHUSUHWDWLRQ GXUFK GLH ªbQGHUQ© JHJHQ EHU GXUFK *HULFKW DOVR XQG *HVHOOVFKDIW ZRULQ GDV 0RWLYORVH DOV 9RUVDW] GDV ,PSURYLVLHUWH DOV EHUHFK QHW GDV 6LQQORVH DOV ,QGL] JHGHXWHW ZLUG 0HXUVDXOW OHEW LQ HLQHP HZLJHQ 3UlVHQV $OOHLQ VHLQH *HVFKLFKWH NDQQ QLFKW LP 3UlVHQV HU]lKOW ZHUGHQ ZHGHU YRQ LKP VHOEVW QRFK YRQ HLQHP DQGHUHQ (U]lKOHU 'D GXUFK ZUGH HWZDV GUDPDWLVLHUW XQG YHUJHJHQZlU WLJW ZDV SULQ]LSLHOO XQGUDPDWLVFK XQG IXQNWLRQVORV DEOLHI $XV GLHVHQ *UQGHQ GLH PLW GHP 7KHPD YRQ =XIDOO XQG )UHPGKHLW ]XVDPPHQKlQJHQ GHP DOVR ZDV 6DU WUH GLH ªIHKOHQGH hEHUHLQVWLPPXQJ© QHQQW ZlKOWH &DPXV IU VHLQHQ 5RPDQ GLH EHVRQGHUH 6SUDFKIRUP GHV 3HUIHNWXPV 9LHOOHLFKW KDW HEHQ GLHVHU .XQVWJULII QLFKWZHQLJ]XU*HVFKORVVHQKHLWXQGHUVWDXQOLFKHQ
:LUNXQJ GHV 5RPDQV EHLJHWUDJHQ $XFK KLHU EH PHUNWH 6DUWUH GHQ =XVDPPHQKDQJ ]ZLVFKHQ 5RPDQ WKHPD .RPSRVLWLRQVSULQ]LS XQG JHZlKOWHU 6SUDFK IRUP JOHLFK QDFK (UVFKHLQHQ GHV %XFKHV ª=ZLVFKHQ MHGHP 6DW] XQG GHP IROJHQGHQ O|VW VLFK GLH :HOW LQ 1LFKWV DXI XQG HQWVWHKW ZLHGHU QHX MHGHU 6DW] LVW MHZHLOV HLQH 6FK|SIXQJ !H[ QLKLOR JOHLFKVDP HLQH LVR OLHUWH ,QVHO 8QG VR VWU]HQ ZLU DXV HLQHP 6DW] LQ GHQ QlFKVWHQ DXV HLQHP 1LFKWV LQ GDV QlFKVWH 8P GLH $EJHVFKORVVHQKHLW MHGHU 6DW]HLQKHLW QRFK ]X XQWHU VWUHLFKHQ KDW &DPXV IU VHLQH (U]lKOXQJ GDV 3HUIHNW JHZlKOW© 0HXUVDXOW ZROOWH GHP =XIDOO VR VHKU IU|QHQ GD HU VLFK YHUPXWOLFK JHJHQ GLH =XPXWXQJ GHV 1RYDOLV JH ZHKUW KlWWH LQ VLFK HLQHQ ª6LQQ IU GHQ =XIDOO© ]X HQWZLFNHOQ :HU GDUDXI DXVJHKW XQG ZHU VSLHOW KDW GHQ =XIDOO EHUHLWV YHUUDWHQ ª8QG PDQ VROO QLFKW VSLHOHQ© 'DV OHKUWH GLH *HVFKLFKWH YRP KHLPNHKUHQ GHQ 6RKQ HEHQVR ZLH GLH *HVFKLFKWH HLQHV ª*OHLFKJO WLJHQ© GHU LQGLIIHUHQW ZDU IU 9HUJDQJHQKHLW XQG IU DOOHV )XWXULVFKH 0HXUVDXOW OHEW LP 3UlVHQV XQG UHIOHNWLHUW GDV JHOHEWH /HEHQ DOV ]XNXQIWVORVHV 3HU IHNWXP 'LH *UDPPDWLN KLOIW PLW GHQ =XIDOO JHJHQ DOOH .DXVDOLWlWHQ XQG 3HUVSHNWLYHQ ]X VFKW]HQ 'LH 1LFKWNRQJUXHQ] GHV )UHPGHQ XQG GHU *HVHOOVFKDIW GLH LKQ XPJLEW ZLUG GDGXUFK JOHLFKIDOOV ªSHUIHNW© VLH GRNXPHQWLHUW QDFK 0HLQXQJ YRQ &DPXV GLH YROONRPPHQH$EVXUGLWlW 'D VLFK LQ 3HWHU +DQGNHV $UEHLWHQ YRQ $QIDQJ DQ JHKHLPH$IILQLWlWHQWGHFNHQOLH]X&DPXVXQGYRU
DOOHP ]XU *HVFKLFKWH GHV )UHPGHQ ZXUGH VRQGHUED UHUZHLVH ZHGHU YRQ GHQ HLIULJHQ %HZXQGHUHUQ QRFK GHQ HEHQVR HLIULJHQ :LGHUVDFKHUQ GLHVHV 6FKULIWVWHO OHUV DQJHPHUNW 9LHOOHLFKW KDW GHU lXHUH (UIROJ GHU 3XEOLNXPVEHVFKLPSIXQJ HLQHU IU +DQGNH QLFKW EHUPlLJ FKDUDNWHULVWLVFKHQ $UEHLW GHQ %OLFN GDIU YHUVFKOHLHUW 'DEHL KlWWH VSlWHVWHQV GDV 6SUHFKVWFN PLW GHP 7LWHO 6HOEVWEH]LFKWLJXQJ GLH =XVDPPHQKlQJH DQGHXWHQ N|QQHQ 9RQ GHP VSlWHUHQ 6WFN .DVSDU KHU JHVHKHQ VLQG KLHU GLH HUVWHQ *HVWDOWXQJVIRUPHQ ]X ILQGHQ ª,FK KDEH JHOHUQW ,FK KDEH GLH :|UWHU JH OHUQW ,FK KDEH GLH =HLWZ|UWHU JHOHUQW ,FK KDEH GHQ 8QWHUVFKLHG ]ZLVFKHQ VHLQ XQG JHZHVHQ JHOHUQW ,FK KDEH GLH +DXSWZ|UWHU JHOHUQW ,FK KDEH GHQ 8QWHU VFKLHG ]ZLVFKHQ GHU (LQ]DKO XQG GHU 0HKU]DKO JH OHUQW ,FK KDEH GLH 8PVWDQGVZ|UWHU JHOHUQW ,FK KDEH GHQ 8QWHUVFKLHG ]ZLVFKHQ KLHU XQG GRUW JHOHUQW©'DV ZLUG VSlWHU LP )DOOH YRQ .DVSDU DOV SlGDJRJLVFKH 0DQLSXODWLRQGHPRQVWULHUW 'DV JHVDPWH 6SUHFKVWFN DEHU LVW HLQH 6SUHFKHU(WGH LP 3HUIHNW $XFK IU GLH HLQ]HOQHQ 6lW]H GHU 6HOEVW EH]LFKWLJXQJ JLOW GHU 6DW] YRQ 6DUWUH EHU GHQ 5R PDQ YRQ &DPXV GD VLFK ]ZLVFKHQ MHGHP 6DW] XQG GHP IROJHQGHQ GLH :HOW DXIO|VH XQG UHJHQHULHUH 'HU )RUWJDQJ GLHVHU %H]LFKWLJXQJ LP 3HUIHNW YROO]LHKW VLFK UHLQ DGGLWLY XQWHU 9HUPHLGXQJ DOOHU K\SRWDNWL VFKHQ0|JOLFKNHLWHQ $XFK KLHU LVW GHU LQQHUH =XVDPPHQKDQJ ]ZLVFKHQ $XVVDJH GHQQ GLH JLEW HV ZDV LPPHU +DQGNH HLQ ZHQGHQ P|FKWH XQG JHZlKOWHU 6SUDFKIRUP HYLGHQW &DPXVUHIHULHUWHGLH*HVFKLFKWHHLQHV)UHPGHQGHU
VHLQ 5HFKW DXI =XIDOO XQG 1LFKWEHUHLQVWLPPXQJ YHUWHLGLJHQ ZROOWH 'LHVH *HVFKLFKWH OLH VLFK QXU LP 3HUIHNW HU]lKOHQ +DQGNH KlXIW 6HOEVWEH]LFKWLJXQ JHQ LP 3HUIHNW XQG HU]lKOW GDULQ GXUFK EORH $GGL WLRQ GLH *HVFKLFKWH HLQHV )UHPGHQ HLQHU ªIHKOHQGHQ hEHUHLQVWLPPXQJ© 'LH 6HOEVWEH]LFKWLJXQJ EHJLQQW DOV 3UR]H GHU $QSDVVXQJ DOV JHVHOOVFKDIWOLFKH ,QWH JUDWLRQ 6LH VFKOlJW XP LQ 6FKLOGHUXQJHQ GHU 'HVLQWH JUDWLRQ LQ 0DQLIHVWDWLRQHQ GHU 1LFKWEHUHLQVWLP PXQJ ª,FK KDEH %HLIDOOVNXQGJHEXQJHQ JHlXHUW DQ 2UWHQ DQ GHQHQ %HLIDOOVNXQGJHEXQJHQ YHUERWHQ ZD UHQ ,FK KDEH 0LIDOOHQVNXQGJHEXQJHQ JHlXHUW ]X =HLWHQ ]X GHQHQ 0LIDOOHQVNXQGJHEXQJHQ XQHU ZQVFKW ZDUHQ ,FK KDEH 0LIDOOHQVNXQGJHEXQJHQ XQG %HLIDOOVNXQGJHEXQJHQ JHlXHUW DQ 2UWHQ XQG ]X =HLWHQ GD 0LIDOOHQVNXQGJHEXQJHQ VRZLH %HLIDOOV NXQGJHEXQJHQ YHUEHWHQ ZDUHQ ,FK KDEH %HLIDOOV NXQGJHEXQJHQ QLFKW JHlXHUW ]X =HLWHQ ]X GHQHQ %HLIDOOVNXQGJHEXQJHQ HUEHWHQ ZDUHQ© ,PPHU PHKU KlXIHQ VLFK JHJHQ GHQ 6FKOX GLH 'HQXQ]LDWLRQHQ GHQHQ ]X HQWQHKPHQ LVW GHU 6HOEVWDQNOlJHU KDEH $N WLRQHQ QLFKW YROOIKUW GLH HV ]X WXQ JDOW +DQGOXQ JHQ QLFKW XQWHUODVVHQ GLH ]X YHUPHLGHQ ZDUHQ $XFK 3HWHU +DQGNHV 6HOEVWEH]LFKWLJXQJ LVW GLH *HVFKLFKWH HLQHV )UHPGHQ 9RUJHWUDJHQ LP 3HUIHNW ZLH HV VLFK JH]LHPW )UHLOLFK PLW HLQHP ZHVHQWOLFKHQ 8QWHUVFKLHG ]X 0HXU VDXOW =ZDU JLOW DXFK IU GHQ )UHPGHQ EHL &DPXV GLH $XVVDJH YRQ +DQGNHV 6SUHFKHU ª,FK KDEH PLW PHL QHU 9HUQXQIW QLFKW GLH LQ GDV :HOWDOO XQG LQ PHLQH 1DWXUJHOHJWHQ*HVHW]HHUNHQQHQZROOHQ©'DVKlWWH
DXFK 0HXUVDXOW XQWHUVFKULHEHQ 6FKOLHOLFK ZLUG HU GHV ZHJHQ JHN|SIW $OOHLQ GDQQ KHLW HV EHL +DQGNH ZHL WHU ª,FK KDEH DP 6SLHOH GDV 6LHJHVJHIKO JHOLHEW ,FK KDEH DQ SKDQWDVWLVFKHQ *HVFKLFKWHQ GHQ .LW]HO LP 2KU JHOLHEW ,FK KDEH 0HQVFKHQ YHUJ|WWHUW ,FK KDEH DQ GHQ 1LFKWLJNHLWHQ GHU 'LFKWHU JU|HUHQ *HIDOOHQ JHIXQ GHQ DOV DQ QW]OLFKHQ .HQQWQLVVHQ ,FK KDEH 6SUDFK VFKQLW]HU PHKU JHIUFKWHW DOV GLH HZLJHQ *HVHW]H© 'DV NRQWUDVWLHUW ]XQlFKVW PLW 0HXUVDXOWV 8UWHLO EHU GDV ª0LYHUVWlQGQLV© LQ MHQHU E|KPLVFKHQ 8QJOFNV JHVFKLFKWH 'RFK QLFKW JDQ] XQG JDU GHQQ DXFK GHU 6HOEVWGHQXQ]LDQW ZLOO QLFKW VSLHOHQ DOV ([SHULPHQWD WRU PLW GHP =XIDOO 6HLQH )UHXGH DP 6SLHO YHUZHL JHUW LPPHUKLQ QRFK GLH ,QWHJUDWLRQ GXUFK =ZHFNH XQG =LHOH 'LHV 6SLHOHQ LVW HLQ ªDFWH JUDWXLW© 'DV 6SLHO VROO NHLQ (UJHEQLV KDEHQ GXUFK =XIDOO GDUI NHLQH QHXH 1RWZHQGLJNHLW XQG hEHUHLQVWLPPXQJ EH JUQGHWZHUGHQ6SLHOQXUVR ,Q VHLQHP ]ZHLWHQ 5RPDQ 'HU +DXVOHUHU ZlKOWH VLFK +DQGNH XQYHUNHQQEDU DXFK QRFK GLH .ULPLQDOJH VFKLFKWH GHV )DOOHV 0HXUVDXOW DOV 5RPDQPRGHOO .HL QHVZHJV GHQ NRQNUHWHQ )DOO VRQGHUQ GHQ OLWHUDUL VFKHQ (LQIDOO YRQ $OEHUW &DPXV GLH Y|OOLJH %DQDOL WlW HLQHU .ULPLQDOJHVFKLFKWH DOV *DWWXQJVIRUP ]X ZlKOHQ XP GHQ =XVWDQG GHU 1LFKWNRQJUXHQ] ]X GH QXQ]LHUHQ 'HU =ZHLWHLOXQJ GHV 5RPDQV EHL &DPXV DPRUSKHV *HVFKHKHQ XQG UDWLRQDO NDXVLHUHQGH 'HX WXQJ HQWVSULFKW LP +DXVLHUHU GLH .RSSHOXQJ YRQ .ULPLQDOJHVFKLFKWH XQG HLQRUGQHQGHU ,QWHUSUHWDWLRQ +DQGNH QHQQW GLHVHQ OHW]WHUHQ 9RUJDQJ ªGLH 2UG QXQJGHU8QRUGQXQJ©
$OOHLQ GLH 5ROOHQ VLQG GLHVPDO YHUWDXVFKW 'HU )UHP GH LVW QLFKW LQ GHU +DQGOXQJ VRQGHUQ VWHKW GUDXHQ DOV %HWUDFKWHU 2UGQHU XQG 'HXWHU ª'LH *HVFKLFKWH JHKW YRQ HLQHU 3HUVRQ DXV GLH LPPHU QXU GD]XNRPPW XQG QLH GD]XJHK|UW 'HU 'D]XNRPPHQGH VLHKW GLH 'LQJH DQ GHP 2UW GHU +DQGOXQJ ]XP HUVWHQ 0DO (U PX VLH DOOH HUVW ZDKUQHKPHQ (U ZHLO YRQ LKP DXV EHVFKULHEHQ ZLUG NDQQ ZHGHU GHU NQIWLJH 0|UGHU QRFKGHU]X(UPRUGHQGHVHLQ© 'DUXP NDQQ +DQGNH PLW KHLWHUHU %RVKHLW NXU] GDU DXI YRQ LKP EHPHUNHQ ª(U LVW IUHPG DEHU QLFKW LP JXWHQ 6LQQ (U LVW HLQ KHUXQWHUJHNRPPHQHU )UHP GHU© $XFK GLH 3HUVSHNWLYHQ VLQG JHJHQEHU &DPXV QXQPHKU YHUWDXVFKW 'LH 2UGQXQJ LVW EHL +DQGNH ZLHGHUKHUJHVWHOOW QDFKGHP ªGLH 0RUGJHVFKLFKWH LQ GLH :LUNOLFKNHLW© ]XUFNJHNHKUW LVW 'HU .ULPLQDO IDOO KDWWH 8QRUGQXQJ EHZLUNW 'HU )UHPGH KDWWH VLH XQRUGHQWOLFK ² JHRUGQHW 1DFK $EVFKOX VFKOlJW GLH DOOWlJOLFKH 2UGQXQJ EHU DOOHGHP ZLHGHU ]XVDPPHQ 'LH QlFKVWH (WDSSH GHPRQVWULHUWH MHQHU .DVSDU GHU VLFK QRFK VHOEVW HUOHEW KDWWH XQG NHLQHQ QHQQHQVZHU WHQ :LGHUVWDQG OHLVWHWH 6R ZHQLJ GD HU VHLQHQ $XWRU 3HWHU +DQGNH VFKOLHOLFK YHUDQODWH GHQ 6FKOXVDW] ZHLO GHP HLQH 'HXWXQJ DE]XJHZLQQHQ ZDU DQ GLH HWDEOLHUWH 2UGQXQJ DE]XJHEHQ ª,FK ELQ QXU ]XIlOOLJ LFK© 1HXHUGLQJV UXIW HV .DVSDU QLFKW PHKU LQ GLH 9RUKDQJIDOWHQ KLQHLQ VRQGHUQ EHVFKUlQNW VLFK ZLH EHUHLWV LQ GHU 6HOEVWEH]LFKWLJXQJ DXI GHQ 9RUJDQJ GHU $GGLWLRQHQ 6ROFKHU IUHLOLFK GLH VLFK VFKOHFKW DGGLHUHQ ODVVHQ ª.HU]HQ XQG 6DW]HJHO .lO WHXQG0FNHQ3IHUGHXQG(LWHU5DXKUHLIXQG5DW
WHQ $DOH XQG gONUDSIHQ© +LQWHU LKQHQ DOOHQ DEHU PDOV GLH 'RSSHOSXQNWH HLQHU 2IIHQKHLW GLH QLFKW =XNXQIW PHLQW 'D]X VFKOLHOLFK QRFK ª=LHJHQ XQG $IIHQ© )QIPDO EHQDQQW XQG GXUFK 'RSSHOSXQNW DXVJH]HLFKQHW 'LH $GGLWLRQ GHU $GGLWLRQ $OOHLQ GLH :LGHUVHW]OLFKNHLW EOLHE 0LW .DVSDU LVW PDQ QLFKW IHUWLJJHZRUGHQ 'RFK PDQ ZXUGH PLW LKP IHUWLJ 'HU 6FKHLQ QlPOLFK WUJW :DV VLFK EHL &DPXV ZLH +DQGNH DOV )UHL KHLWVRDVH GDU]XELHWHQ VFKLHQ EHGHXWHW LP *HJHQWHLO GLH EHUDXV DEJHIHLPWH PRGHUQH )RUP K|FKVWHU (QW IUHPGXQJ 'LH $XINOlUHU YHUPRFKWHQ GHQ =XIDOO QRFK LQ ]XIlOOLJ SULYLOHJLHUWHQ 3HUVRQHQ ]X NRQNUHWLVLHUHQ =XIDOO HUJDE GHQ *UDIHQ $OPDYLYD XQG GLH ]DKOUHL FKHQ UKUHQGHQ RGHU NRPLVFKHQ ª)LQGOLQJH© GHQHQ VLFK GDV OLWHUDULVFKH -DKUKXQGHUW VR JHUQ ]X]X ZHQGHQSIOHJWH 1RYDOLV SRVWXOLHUWH ]ZDU YRP 6XEMHNW KHU JHVHKHQ HLQH 5HJUHVVLRQ ZHQQ HU GHQ =XIDOO OHXJQHWH XQG GDV VFKHLQEDU 8UVDFKORVH LQ GHQ JURHQ XUVlFKOLFKHQ =X VDPPHQKDQJ HLQHU PHQVFKHQJ|WWOLFKHQ 2UGQXQJ LQ WHJULHUWH 2EMHNWLY HQWVSUDFK VHLQH 'HXWXQJ KLQJHJHQ GHP QHXHQ 6DFKYHUKDOW HLQHU *HVHOOVFKDIW QlPOLFK ZRULQ ª)UHLKHLW© GHV ,QGLYLGXXPV DXVGUFNOLFK GHV VHQ (LQRUGQXQJ XQG JHVHOOVFKDIWOLFKH 6NODYHUHL YHU NQGHWH ,QGHP HU GDV HUNDQQWH XQG IU VLFK QXW]EDU PDFKWH ZDU GHU DGHOVVWRO]H +DUGHQEHUJ NODUHU EOLN NHQG DOV GLH EUJHUOLFKHQ ,GHRORJHQ VHLQHU (SRFKH 6HLW LQ GHU 0LWWH GHU YLHU]LJHU -DKUH GHV EUJHUOLFKHQ -DKUKXQGHUWV GDV 3UREOHP GHU (QWIUHPGXQJ GXUFK 0DU[XQG(QJHOVGLDJQRVWL]LHUWXQGQHXLQWHUSUHWLHUW
ZXUGH LVW HV P|JOLFK JHZRUGHQ DXFK GHQ )HWLVFK &KDUDNWHU VFKHLQEDUHU .RQWLQJHQ]HQ ]X GXUFKVFKDX HQ ,Q GHU +HLOLJHQ )DPLOLH KHLW HV EHUHLWV ª,Q GHU PRGHUQHQ :HOW LVW MHGHU ]XJOHLFK 0LWJOLHG GHV 6NOD YHQWXPV XQG GHV *HPHLQZHVHQV (EHQ GDV 6NODYHQWXP GHU EUJHUOLFKHQ *HVHOOVFKDIW LVW GHP 6FKHLQ QDFK GLH JU|WH )UHLKHLW ZHLO GLH VFKHLQEDU YROOHQGHWH 8QDE KlQJLJNHLW GHV ,QGLYLGXXPV ZHOFKHV GLH ]JHOORVH QLFKW PHKU YRQ DOOJHPHLQHQ %DQGHQ XQG QLFKW PHKU YRP 0HQVFKHQ JHEXQGQH %HZHJXQJ VHLQHU HQWIUHP GHWHQ /HEHQVHOHPHQWH ZLH ] % GHV (LJHQWXPV GHU ,QGXVWULH GHU 5HOLJLRQ XVZ IU VHLQH HLJQH )UHLKHLW QLPPW ZlKUHQG VLH YLHOPHKU VHLQH YROOHQGHWH .QHFKW VFKDIW XQG 8QPHQVFKOLFKNHLW LVW $Q GLH 6WHOOH GHV 3ULYLOHJLXPV LVW KLHU GDV 5HFKW JHWUHWHQ© :HQQ DEHU DQ 6WHOOH GHV 3ULYLOHJLXPV GDV 5HFKW WULWW EHL 0HXUVDXOW XQG .DVSDU DOV 5HFKW DXI GHQ HLJHQHQ =XIDOO YHUVWDQGHQ ZLH ]X %HJLQQ XQVHUHV -DKUKXQ GHUWV EHL 5LONH GDV ª5HFKW DXI GHQ HLJHQHQ 7RG© VR XQWHUVWUHLFKW DXFK KLHU GHU MXULVWLVFKH &KDUDNWHU GHV 9RUJDQJV GLH QHXH )RUP YRQ (QWIUHPGXQJ XQG PR GHUQHU6NODYHUHL :DV 0HXUVDXOW IU VHLQH ,QGLYLGXDOVSKlUH DXV =XIDOO XQG *OHLFKJOWLJNHLW KlOW LVW LQ :LUNOLFKNHLW HLQ %H VWDQGWHLO GHU YHUGLQJOLFKWHQ *HVHOOVFKDIWVRUGQXQJ *HRUGQHWH 8QRUGQXQJ DOVR 0DQ NDQQ QLFKW RKQH 9HUJDQJHQKHLW OHEHQ DXFK ZHQQ PDQ HV P|FKWH DXFK QLFKW ]XNXQIWVORV GHQQ VHOEVW GLHVHV :ROOHQ GLHQW GHP JHVHOOVFKDIWOLFK YRQ GHU KHUUVFKHQGHQ 2UGQXQJ YRUJHNRFKWHQ )XWXUXP 'DUXPDXFKLVWDEHUPDOVEHL&DPXVGLH9LVLRQYRP
0HQVFKHQ LQ GHU 5HYROWH HLQ :DUQELOG GHU (QWIUHP GXQJ XQG )UXVWUDWLRQ 'LH (PS|UXQJ 0D[ 6WLUQHUV XQG GLH 5HYROWH HLQHV $OEHUW &DPXV VLQG EHLGH JH WURIIHQ GXUFK GDV 8UWHLO YRQ .DUO 0DU[ EHU GHQ (LQ]LJHQ 0D[ 6WLUQHU XQG GHVVHQ (LJHQWXP GLH (P S|UXQJ QlPOLFK (LQH 5HYROXWLRQ VR 0DU[ XQWHU VFKHLGH VLFK YRQ HLQHU (PS|UXQJ GDGXUFK GD GLH HLQH5HYROXWLRQVHLGLHDQGHUHQLFKW +DQGNHV .DVSDU lXHUW GLH HFKWH :LGHUVHW]OLFKNHLW QLFKW GDULQ GD HU HLQ 5HFKW DXI =XIDOO SRVWXOLHUW VRQGHUQ LP *HJHQWHLO GDGXUFK GD HU DXVGUFNOLFK GDUDXI YHU]LFKWHW HV JHOWHQG ]X PDFKHQ :HU +DQG NH GHVKDOE ZLH HV JHOHJHQWOLFK JHVFKLHKW DOV UFN VFKULWWOLFK GHQXQ]LHUW KDW GLH PRGHUQH 'LDOHNWLN GHU (QWIUHPGXQJ QLFKW YHUVWDQGHQ 'LDOHNWLVFK ZDU GHU MXQNHUOLFKH 1RYDOLV GHQ DXIJHNOlUWHQ )RUWVFKULWWVOHX WHQVHLQHU=HLWLQVJHKHLPEHUOHJHQ
:HU VLFK ZLH %HKULQJHU EHL ORQHVFR GDJHJHQ ZHKUW LP 1DV KRUQ6WD DW LQWH JULHUW ]X Z HUGH Q XQG HL Q 5HFKW DXI ,QGLYLGXDOLWlW EHDQVSUXFKW KDQGHOW HEHQ GDGXUFK DOV 1DVKRUQ 'LH (QWIUHPGXQJ NDQQ QLH PDOV GXUFK LQGLYLGXHOOH $NWLRQ ZLH EHL &DPXV RGHU 3DVVLRQ ZLH EHL 0HXUVDXOW EHUZXQGHQ ZHUGHQ 6RODQJH GLH *HVHOOVFKDIW VWHWV YRQ QHXHP (QWIUHP GXQJ DOV )UHLKHLWVVFKHLQ HUVWUDKOHQ OlW lQGHUW VLFK QLFKWV $XFK HLQH /LWHUDWXU ULFKWHW QLFKWV DXV GLH (QW IUHPGXQJ EHNODJW XQG )UHLKHLWVVSKlUHQ LP :VWHQ VDQG DE]XVWHFNHQ VXFKW (QWIUHPGXQJ NDQQ QLFKW GXUFK HQWIUHPGHWH /LWHUDWXU EHUZXQGHQ ZHUGHQ .DVSDU KDW GDV EHJULIIHQ %OHLEW GLH )UDJH GHU 3UD[LV ]XVROFKHUWKHRUHWLVFKHQ(UNHQQWQLV