+*(:(56
6$%27(85(:,'(5:,//(1
(5,&+3$%(/9(5/$*.*5$67$77%$'(1
3(55...
79 downloads
426 Views
313KB 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
+*(:(56
6$%27(85(:,'(5:,//(1
(5,&+3$%(/9(5/$*.*5$67$77%$'(1
3(55<5+2'$17DVFKHQEXFK $XJXVW
ª,KUVHLGZDKQVLQQLJ©VFKULH1DQGXU*DU]HOGLHEHLGHQ3URVSHNWRKUHQDQGLHYRUHLQHU6WXQGH YRQ7HUUDQDFK,RJHNRPPHQZDUHQª'HU6WURPVHW]W(QHUJLHQELV]X]HKQ%LOOLRQHQ:DWWIUHL,KU ZHUGHWJHEUDWHQZHQQVLFKGHU7ULFKWHUELOGHWZlKUHQGLKUGUDXHQVHLG© .HQQHY7LUHNXQG$PDO6ZRUJHUZLGHUWHQGHQ]RUQLJHQ%OLFNGHV6WDWLRQVFKHIVGHU7ULVRQLXP 0LQH PLW WURW]LJHQ 0LHQHQ 6LH NDQQWHQ GLH *HIDKUHQ GLH VLH DXHUKDOE GHV 3DUDWURQVFKLUPV GHU 0LQHHUZDUWHWHQDEHUGLH$XVVLFKWDXIGLH3UlPLHYRQHLQHU0LOOLRQ6RODUGLHLKQHQLP)DOOGHV *HOLQJHQVZLQNWHVFKLHQLKQHQGDV5LVLNRZHUW]XVHLQ ª'HU 9RUVWDQG KDW XQV YHUVLFKHUW GDVV ZLU PLW ,KUHU 8QWHUVWW]XQJ UHFKQHQ N|QQHQ© HUNOlUWH .HQQHY7LUHN ª'HU9RUVWDQG©WREWH1DQGXU*DU]HOª9RQGHQHQZDUQRFKNHLQHUDXI,R'LHKDEHQGRFKNHLQH $KQXQJGDVVGHUJDQ]H0RQGVRHWZDVZLHHLQJLJDQWLVFKHU6WURPVFKDOWHULVW© ª'DV EUDXFKHQ GLH DXFK QLFKW ]X ZLVVHQ© PHLQWH $PDO 6ZRUJ JHPWOLFK ª'LH EUDXFKHQ DQVFKOLHHQGQXUXQVHU*HOG]XEHUZHLVHQ© 1DQGXU*DU]HOVDKGLHEHLGHQ3URVSHNWRUHQ]XHUVWYHUEOIIWGDQQYHUlFKWOLFKDQ ª6R LVW GDV DOVR PLW HXFK 'DQQ VROO HV PLU HJDO VHLQ ZDV DXV HXFK ZLUG ,KU N|QQW HLQH 6FKLOGNU|WH QHKPHQ ,FK ]HLJH HXFK DXI GHU .DUWH ZLH LKU IDKUHQ PVVW XP ]XU .DVVLRSDLD 6FKOXFKW ]X NRPPHQ© (U VDK DXI GHQ &KURQRJUDSKHQ DP &RPSXWHU7HUPLQDO VHLQHV $UEHLWV]LPPHUVª$QHXUHU6WHOOHZUGHLFKGDV(QGHGHV QlFKVWHQ6WURPVDEZDUWHQ(VIlQJWQlPOLFK]ZLVFKHQQHXQXQGVLHE]HKQ6WXQGHQZLHGHUDQ© ª*HQDXHUZLVVHQ6LHGDVQLFKW"©IUDJWH$PDO6ZRUJ ª(VNRPPWQLFKWUHJHOPlLJ©VDJWH1DQGXU*DU]HOª$EHULFKKDEHHLQ*HVSUGDIUZDQQHV VLFKZLHGHU]XVDPPHQEUDXW1XUJDQ]JHQDXVSUHLFKHVQLFKW© ª'DQQYHUODVVHQZLUXQVOLHEHUDXIXQVHUH%HUHFKQXQJHQ©HUNOlUWH.HQQHY7LUHNª1DFKGHQHQ EOHLEWXQV]ZHLXQG]ZDQ]LJ6WXQGHQ=HLWXQVJHJHQGHQ6WURP]XVFKW]HQ© ª:RPLWGHQQ"©ZROOWHGHU6WDWLRQVFKHIZLVVHQ ª0LWIQIWUDJEDUHQ6FKLUPIHOGSURMHNWRUHQ©DQWZRUWHWH7LUHN 1DQGXU*DU]HOWLSSWHVLFKDQGLH6WLUQ ª'DV LVW DOV ZROOWHW LKU HLQHQ $WRPEUDQG PLW HLQHP (LPHU :DVVHU O|VFKHQ© (U ]XFNWH GLH 6FKXOWHUQª$EHUHVLVWQLFKWPHLQH+DXWGLHLKUULVNLHUW*HKWVFKRQPDOYRU]XU%6FKOHXVH,FK NRPPHJOHLFKQDFKXQGEULQJHGLH6FKLOGNU|WHPLW© $OV GLH EHLGHQ 3URVSHNWRUHQ JHJDQJHQ ZDUHQ EHXJWH VLFK 1DQGXU *DU]HO EHU VHLQ .RPPDQGRSXOW XQG WDVWHWH EHU GLH 6HQVRUHQ ]XU 6FKDOWXQJ GHU 5XQGVLFKW 'LH NXSSHOI|UPLJ JHZ|OEWH 'HFNH VHLQHV $UEHLWV]LPPHUV ZXUGH KHOO XQG ]HLJWH GDV YRQ 6SH]LDONDPHUDV XQG 2UWXQJVWDVWHUQ DXIJHQRPPHQH XQG YRQ HLQHP &RPSXWHU IU GDV PHQVFKOLFKH 6HKYHUP|JHQ DXIEHUHLWHWH%LOGGHU8PJHEXQJGHU6WDWLRQ 'HU 3ODQHW -XSLWHU EHKHUUVFKWH GHQ JU|WHQ 7HLO GHV ª+LPPHOV© DXI GLHVHU 6HLWH YRQ ,R HLQ JLJDQWLVFKHU DEJHIODFKWHU %DOO GHVVHQ DXIVWHLJHQGH ZDUPH XQG DEVWHLJHQGH NKOHUH
:DVVHUVWRIIPDVVHQ EURGHOQGH ZRJHQGH %lQGHU ELOGHWHQ GLH VLFK EHU GLH JHVDPWH 2EHUIOlFKH KLQ]RJHQ XQG LQ GHVVHQ :DVVHUVWRII+HOLXP$WPRVSKlUH VWlQGLJ *HZLWWHU WREWHQ GLH NDXP YRUVWHOOEDUH(QHUJLHQIUHLVHW]WHQ -XSLWHUZDUNHLQH:HOWIUGHQ0HQVFKHQXQGDXFK,RZlUHHLQDEVROXWW|GOLFKHU3ODW]JHZHVHQ KlWWHVLFK GLH 7ULVRQLXP0LQH QLFKW PLW HLQHP 3DUDWURQVFKLUP JHJHQ GLHVWlQGLJHHQHUJLHUHLFKH6WUDKOXQJ -XSLWHUVJHVFKW]WEHVRQGHUVDEHUJHJHQGLH6WU|PHHOHNWULVFKJHODGHQHU7HLOFKHQGLHLPPHUGDQQ ]ZLVFKHQ -XSLWHU XQG ,R EHUVWU|PWHQ ZHQQ VLFK ]ZLVFKHQ LKUHQ 2EHUIOlFKHQ 0DJQHWIHOGWULFKWHU ELOGHWHQ (VNODQJIDVWZLHHLQ:LW]GDVVYRUGHU,QYDVLRQGHU/DUHQGLH)LUPD+DUGOH\ +DUGOH\HLQUXQG ]HKQWDXVHQG 4XDGUDWNLORPHWHU JURHV *HELHW GHU 2EHUIOlFKH ORV JHNDXIW KDWWH XP GRUW HLQ (UKROXQJVXQG9HUJQJXQJV]HQWUXPIUGLH3URVSHNWRUHQXQG%HUJEDXWHFKQLNHUHLQ]XULFKWHQGLH PHKUVFKOHFKWDOVUHFKWLQLKUHQ5DXPERRWHQXQG)HOVK|KOHQOHEWHQ +DUGOH\ +DUGOH\PHUNWHQGDQQDXFKEDOGQDFKGHP.DXIGDVVVLHHLQHP%HWUJHUDXIJHVHVVHQ ZDUHQGHUDOV&KHILQVSHNWHXUGHUVRODUHQ*UXQGVWFNVWUHXKDQGEHK|UGHLQGHU/DJHJHZHVHQZDU GDV ª*HVFKlIW© DE]XVFKOLHHQ GHQ (UO|V DEHU DXI 8PZHJHQ QDFK /HSVR WUDQVIHULHUW KDWWH ZR QLHPDQGIUDJWHZRKHUGDV*HOGNDPXQGZRHUVLFKHUYRU6WUDIYHUIROJXQJZDU :lKUHQGGHU.RQ]LOVKHUUVFKDIWNPPHUWHVLFKQLHPDQGPHKUXPGDV*HOlQGH1DFKGHUJURHQ 5FNNHKUEHZHJXQJGHU0HQVFKKHLWVHW]WHGDQQQLFKWQXUHLQDOOJHPHLQHU$XIVFKZXQJHLQVRQGHUQ GLH 0HQVFKHQ ZDUHQ YRQ HLQHU 7DWNUDIW EHIOJHOW GLH YLHOH 3URMHNWH UHDOLVLHUWH GLH IUKHU NDXP YRUVWHOOEDUJHZHVHQZDUHQ $OOHUGLQJV JDE HV DXFK QHXJHJUQGHWH )LUPHQ GLH EDOG ZLHGHU LQ .RQNXUV JLQJHQ 'HU )LUPD ,QWHUSODQHWDU\0LQHUDOV/WGZlUHHVEHLQDKHHEHQVRHUJDQJHQZHQQQLFKWHLQHULKUHU3URVSHNWRUHQ DXI ,R GDV 0LQHUDO 7ULVRQLXP HQWGHFNW KlWWH GDV LP EULJHQ .RVPRV VHLQHVJOHLFKHQ VXFKWH ([SHULPHQWHXQG$QDO\VHQHUJDEHQGDVV7ULVRQLXPHLQ6FKZLQJTXDU]YRQQRFKK|KHUHU6WDELOLWlW DOVGDVNQDSSH+RZDOJRQLXPZDUXQGGLH$XVEHXWXQJGHVUHLFKHQ7ULVRQLXP9RUNRPPHQVDXI,R VFKLHQHLQ%RPEHQJHVFKlIW]XZHUGHQ 'RFK VFKRQ EDOG PXVVWHQ GLH /HXWH YRQ ,QWHUSODQHWDU\ 0LQHUDOV /WG HUNHQQHQ GDVV VR OHLFKW QLFKW DQ GLH /DJHUVWlWWHQ DXI ,R KHUDQ]XNRPPHQ ZDU ,Q GHQ 7HLOFKHQERPEDUGHPHQWV GHU HOHNWULVFKHQ6XSHUWDLIXQHYHUVDJWHQQLFKWQXUDOOH&RPSXWHUXQG)HOGJHQHUDWRUHQVRQGHUQDXFKGLH 0HQVFKHQ*HQDXHUJHVDJWRKQHGHQ6FKXW]HLQHV3DUDWURQVFKLUPVZDUMHGHU0HQVFKGHULQHLQHQ 6XSHUWDLIXQJHULHWLQQHUKDOEZHQLJHU0LQXWHQWRW $XVUHLFKHQGOHLVWXQJVIlKLJH3DUDWURQVFKXW]VFKLUPSURMHNWRUHQXQGGLHGD]XJHK|ULJHQ.UDIWZHUNH DEHU ZDUHQ HUVWHQV 0DQJHOZDUH XQG ]ZHLWHQV DXI GHP SULYDWHQ 0DUNW VR WHXHU GDVV ª,QWHUPLQ© WURW] HLQHV JUR]JLJ EHZLOOLJWHQ KRKHQ .UHGLWV GHU /)7%DQN QLFKW PHKU DOV ]ZHL $JJUHJDWH HUZHUEHQ NRQQWH 'HU GDPLW HU]HXJWH 3DUDWURQVFKLUP UHLFKWH JHUDGH DXV XP HLQ %HUJZHUN XQWHU HLQHU%RGHQIOlFKHYRQYLHUWDXVHQG4XDGUDWPHWHUQ]XVFKW]HQYLHU=HKQWDXVHQGVWHOGHU)OlFKHGLH ª,QWHUPLQ©YRQGHQ(UEHQGHU)LUPD+DUGOH\ +DUGOH\JHNDXIWKDWWHXQGXQWHUGHUGDV7ULVRQLXP 9RUNRPPHQODJ 'HU (UO|V GHV GRUW JHI|UGHUWHQ *HVWHLQV EH]LHKXQJVZHLVH GHV DXV LKP JHZRQQHQHQ 7ULVRQLXPV UHLFKWH JHUDGH DXV XP DOOH 8QNRVWHQ ]X GHFNHQ XQG GLH 5FN]DKOXQJVUDWHQ IU GHQ .UHGLW SOXV =LQVHQ]XEH]DKOHQ .HLQ :XQGHU GDVV GHU 9RUVWDQG YRQ ,QWHUSODQHWDU\ 0LQHUDOV /WG DOOHV YHUVXFKWH XP HLQH (UZHLWHUXQJ GHU 0LQH ]X HUUHLFKHQ RKQH QHXH 3DUDWURQDJJUHJDWH NDXIHQ ]X PVVHQ IU GLH VFKOLHOLFKNHLQQHXHU.UHGLWEHZLOOLJWZRUGHQZlUH 'HQQRFK ZDU GDV 8QWHUQHKPHQ IU GDV PDQ GLH EHLGHQ 3URVSHNWRUHQ DQJHKHXHUW KDWWH JODWWHU :DKQVLQQ GHQQ WUDJEDUH 6FKLUPIHOGJHQHUDWRUHQ GLH DXVVFKOLHOLFK $EVFKLUPXQJHQ DXV 1RUPDOHQHUJLHHU]HXJWHQVFKW]WHQQLFKWJHJHQGHQ6WURPVWRHLQHVª(OHNWULVFKHQ6WXKOV©YRQGHU *U|HORV 1DQGXU*DU]HOVFKWWHOWHGHQ.RSI (UNRQQWHQLFKWVWXQXPGLH3URVSHNWRUHQYRQLKUHP:DKQVLQQVYRUKDEHQDE]XKDOWHQ6LHKlWWHQ
QLFKWDXILKQJHK|UWXQGHUZlUHEHLP9RUVWDQGLQ8QJQDGHJHIDOOHQRKQHGDVVHUGDGXUFK.HQQHY 7LUHNXQG$PDO6ZRUJKlWWHKHOIHQN|QQHQ (UVFKDOWHWHGHQ6WDWLRQVLQWHUNRPHLQ ª6FKLFNWPLUHLQHHLQVDW]NODUH6FKLOGNU|WH]XU%6FKOHXVH©RUGQHWHHUDQDOVGLH)DKUEHUHLWVFKDIW VLFKPHOGHWHª=ZHL,GLRWHQN|QQHQHVQLFKWHUZDUWHQ]XLKUHUHLJHQHQ)HXHUEHVWDWWXQJ]XIDKUHQ© .HQQHY7LUHNEUHPVWHEHLGH*OHLVNHWWHQDEDOVHUGHQ*HU|OOKDQJVDKGHULQ]LUNDIQI]LJ0HWHUQ (QWIHUQXQJVWHLODEILHO ª:DV KDVW GX"© IUDJWH $PDO 6ZRUJ DXV GHP KLQWHUHQ 7HLO GHU )DKUHUNDELQH ZR HU 0DJQHWIHOGPHVVXQJHQYRUQDKP .HQQHY7LUHNGHXWHWHPLWGHUOLQNHQ+DQGDXIGDV$Q]HLJHIHOGHLQHV0HVVJHUlWV ª(LQ *HU|OOKDQJ PLW HLQXQGGUHLLJ 3UR]HQW *HIDOOH %HL QXU HLQHP NQDSSHQ 6HFKVWHO 7HUUDVFKZHUNUDIWZHUGHQZLUGDUDXIVFKZLPPHQZLHDXIIOVVLJHU6HLIH,FKELQPLUQLFKWVLFKHURE LFKGLH6FKLOGNU|WHXQWHU.RQWUROOHKDOWHQNDQQXQGXQWHUKDOEGHV*HU|OOKDQJVIlOOWGDV*HOlQGH VHQNUHFKWLQGLH6FKOXFKWDE© $PDO 6ZRUJ VWHOOWH VHLQH 0HVVXQJHQ HLQ XQG NDP QDFK YRUQ 'XUFK GDV WUDQVSDUHQWH 3DQ]HUSODVWLN GHU )DKUHUNXSSHO GLH DOV DEJHIODFKWH +DOENXJHO DXI GHP QLHGULJHQ EUHLWHQ 5XPSI GHV.HWWHQIDKU]HXJVVDEOLFNWHHUQDFKYRUQ 'HU QDKH -XSLWHU OHJWH HLQH GVWHUURWH +HOOLJNHLW EHU GLH |GH 2EHUIOlFKH ORV GLH HUKHEOLFKHQ /LFKWVFKZDQNXQJHQ DXVJHVHW]W ZDU HLQ (IIHNW GHU YRQ GHU (UGH DXV PLW GHQ EHVWHQ 7HOHVNRSHQ QLFKWZDKUJHQRPPHQZHUGHQNRQQWHGLHRSWLVFKH2ULHQWLHUXQJDXI,RMHGRFKVHKUHUVFKZHUWH 'HVKDOE VDK $PDO 6ZRUJ XQWHUKDOE GHV *HU|OOKDQJV QXU HLQH $UW EUHLWHQ VLFK VFKODQJHQI|UPLJ ZLQGHQGHQ6FKDWWHQ8PVRSUl]LVHUMHGRFKZDUHQGLH$QJDEHQGHUYHUVFKLHGHQHQ0HVVJHUlWH'HU ª6FKDWWHQ© ZDU QLFKWV DQGHUHV DOV GLH gIIQXQJ GHU .DVVLRSDLD6FKOXFKW GHUHQ %RGHQ VR WLHI ODJ GDVV GDV ZHQLJH -XSLWHUOLFKW GDVV LKQ HUUHLFKWH QLFKW ELV QDFK REHQ UHIOHNWLHUW ZHUGHQ NRQQWH 'DGXUFKHQWVWDQGGHU(LQGUXFNHLQHVVFKZDU]HQ%DQGHV $PDO6ZRUJULFKWHWHVLFKDXIXQGOLHVHLQHQ%OLFNEHUGDVZHLWHUHQWIHUQWH*HOlQGHVFKZHLIHQ ª.HLQH DQGHUH 0|JOLFKNHLW LQQHUKDOE GHU )ULVW ]XP (LQJDQJ GHU 6FKOXFKW ]X NRPPHQ"© EHUOHJWHHUODXW .HQQHY7LUHNEOLFNWHDXIGLH.DUWH ª.HLQH'HUNU]HVWH8PZHJZUGHXQVQHXQ6WXQGHQNRVWHQ© $PDO 6ZRUJ YHUZQVFKWH GLH 7DWVDFKH GDVV GLH 6FKOXFKW DXVJHUHFKQHW DQ GHP (QGH GDV GHU 6WDWLRQDPQlFKVWHQODJDPWLHIVWHQZDUODXW.DUWHVHFKVKXQGHUWYLHU]LJ0HWHU(LQH(LQIDKUWZDU QXU DP HQWJHJHQJHVHW]WHQ QXU GUHLHLQKDOE 0HWHU WLHIHQ (QGH P|JOLFK XQG ZDU VLHEHQHLQKDOE .LORPHWHUHQWIHUQW ª(VJLEWNHLQHDQGHUH0|JOLFKNHLW© ª$OVRULVNLHUHQZLUHV©PHLQWH.HQQHY7LUHNXQGXPIDVVWHGHQ6WHXHUNQSSHOIHVWHUGHUUHFKWV YRQLKPDXVHLQHP*HVWHOOUDJWHDXIGHPVLFKHLQHJHSROVWHUWH8QWHUODJHIUGHQUHFKWHQ8QWHUDUP EHIDQG 'XUFK JHULQJIJLJH %HZHJXQJHQ GHV 6WHXHUNQSSHOV QDFK DOOHQ 6HLWHQ GHU +RUL]RQWDOHQ ZXUGH GLH /HQNSRVLWURQLN ]X 6WHXHULPSXOVHQ DQ GLH HQWVSUHFKHQGHQ )DKUDJJUHJDWH YHUDQODVVW /HLFKWHUXQGSUl]LVHUNRQQWHHLQ)DKU]HXJQLFKWJHVWHXHUWZHUGHQ /DQJVDPUROOWHGLH6FKLOGNU|WHDXIGHQ$EKDQJ]XQRFKODQJVDPHUNLSSWHVLHEHUGHQ5DQG'LH EUHLWHQ*OHLVNHWWHQDXV0HWDOOSODVWLNOHJWHQVLFKVDQIWDXIGDV*HU|OO'HQQRFKJHQJWHGDV*HZLFKW GHV)DKU]HXJVXPGLHEHLGHUJHULQJHQ6FKZHUNUDIWªVHLILJYHUVFKLHE EDUHQ©JODWWHQ6FKRWWHUVWHLQHZHJ]XGUFNHQ'LH6FKLOGNU|WHEHZHJWHVLFKVFKOLQJHUQGYRUZlUWV 7URW] GHU .OLPDDQODJH GLH 7HPSHUDWXU XQG /XIWIHXFKWLJNHLW NRQVWDQW KLHOW XQG REZRKO GLH 3URVSHNWRUHQ GLH 'UXFNKHOPH LKUHU 5DXPDQ]JH QLFKW JHVFKORVVHQ KDWWHQ JHULHWHQ VLH VR LQV 6FKZLW]HQGDVVGHU6FKZHLDXVGHP+DDUWURSIWH .HQQHY 7LUHN EHZHJWH GHQ 6WHXHUNQSSHO OHLFKW QDFK OLQNV 'LH 6FKLOGNU|WH ZHQGHWH JHKRUVDP GXUFKJHJHQOlXILJH6WHXHUXQJGHU*OHLVNHWWHQ'HQQRFKUXWVFKWHVLHZHLWHUDEZlUWV ª0HKUF©ULHI$PDO6ZRUJ(UPHLQWHGDPLWGDVVVHLQ3DUWQHUK|KHUEHVFKOHXQLJHQVROOWH .HQQHY 7LUHN GUFNWH GHQ 6WHXHUNQSSHO QDFK YRUQ 'LH *OHLVNHWWHQ GUHKWHQ VLFK VFKQHOOHU
6FKRWWHUVSULW]WHQDFKKLQWHQZHJ'RFKGHU(UIROJZXUGHJOHLFKVLFKWEDU'LH6FKLOGNU|WHUXWVFKWH QLFKWPHKUQDFKXQWHQVRQGHUQUROOWHTXHU]XP+DQJ $EHU GDPLW ZDU GLH *HIDKU QRFK QLFKW YRUEHU 'HU +DQJ ZDU PD[LPDO GUHLKXQGHUW]HKQ 0HWHU EUHLW 'DKLQWHU NDP HLQH VWHLO DXIUDJHQGH )HOVZDQG GLH WURW] QXU YLHU 0HWHUQ +|KH HLQ XQEHUZLQGOLFKHV +LQGHUQLV GDUVWHOOWH 6LH HQGHWH ]LUND IQI 0HWHU YRU GHP GLHVVHLWLJHQ 6FKOXFKWUDQG DXI HLQHP IDVW ZDDJHUHFKWHQ )HOVEDQG GDV GLH ª6WUDH© GDUVWHOOWH DXI GHU GLH 6FKLOGNU|WH]XP=LHOJHODQJHQNRQQWH .HQQHY 7LUHN PXVVWH DOVR QRWJHGUXQJHQ ZLHGHU QDFK UHFKWV VWHXHUQ ZRGXUFK GLH *OHLVNHWWHQ DEHUPDOV LQV 6FKZLPPHQ JHULHWHQ XQG LKQ GD]X ]ZDQJHQ VFKRQ EDOG ZLHGHU TXHU ]XP +DQJ ]X IDKUHQ +lWWH HU GHQ )HKOHU EHJDQJHQ ]ZHL RGHU GUHLPDO ]X ODQJH DXI GHU VLFKHUHQ 4XHUURXWH ]X EOHLEHQZlUHGLH)DKUWDXIKDOEHU+|KHDQGHU)HOVZDQG]X(QGHJHZHVHQ2EHLQH:HQGXQJXP QHXQ]LJ *UDG GXUFKIKUEDU ZDU RKQH HLQ XQNRQWUROOLHUWHV XQG KDOWORVHV $EUXWVFKHQ ]X EHZLUNHQ OLHVLFKQLFKWYRUKHUVDJHQ .HQQHY7LUHNZHFKVHOWHGHVKDOELQVFKQHOOHU)ROJH ]ZLVFKHQ$EZlUWVXQG4XHUIDKUW'HQQRFKZlUHGLH6FKLOGNU|WHEHLQDKHDEJHVWU]WGHQQDOVHU ]XP OHW]WHQ 4XHUPDQ|YHU DQVHW]WH JDEHQ GLH 6FKRWWHUPDVVHQ ]ZLVFKHQ GHP )DKU]HXJ XQG GHP 6FKOXFKWUDQGQDFKXQGJOLWWHQDOVJHVFKORVVHQHV%DQGDE .HQQHYYHUKLQGHUWHGLH.DWDVWURSKHLPOHW]WHQ0RPHQWLQGHPHUZlKUHQGGHU4XHUIDKUWGHQ%XJ GHU 6FKLOGNU|WH OHLFKW QDFK REHQ ULFKWHWH XQG YROO EHVFKOHXQLJWH 'DGXUFK JUXEHQ GLH *OHLVNHWWHQ VLFKJOHLFK%DJJHUVFKDXIHOQGXUFKGHQ6FKRWWHUXQGIDVVWHQDXIGHPGDUXQWHUOLHJHQGHQPDVVLYHQ )HOV (WZDHLQHQKDOEHQ0HWHUYRQ$EJUXQGXQG$EVWXU]HQWIHUQWHUUHLFKWHGDV)DKU]HXJGDVVLFKHUH )HOVEDQGVWHXHUWH]ZHL0HWHUQDFKOLQNVXQGVHW]WHGDQDFKVHLQHQ:HJHQWODQJGHU6FKOXFKWRKQH 6FKZLHULJNHLWHQIRUW ª6WDWLRQ UXIW 6FKLOGNU|WH 6© HUW|QWH HLQH 6WLPPH DXV GHP /DXWVSUHFKHU GHV 7HOHNRPV ª6 ELWWHPHOGHQ© .HQQHY7LUHNVFKDOWHWHDXI6HQGXQJXQGVDJWHZlKUHQGHULQGHQ(LQJDQJGHU6FKOXFKWVWHXHUWH ª+LHU67LUHN:DVJLEWHV"© ª(VIlQJWEDOGDQ©VDJWHGLH6WLPPHGHVXQVLFKWEDUHQ6SUHFKHUVª'HUHUVWH0DJQHWIHOGWULFKWHU EDXWVLFKDXI,KUKDEWYLHOOHLFKWQRFKHLQHKDOEH6WXQGH=HLW© .HQQHY7LUHNVWLHHLQH9HUZQVFKXQJDXV8QZLOONUOLFKEOLFNWHQHUXQGVHLQ3DUWQHUQDFKREHQ REZRKOVLHEHLGHZXVVWHQGDVVGLH0DJQHWIHOGHUGLHVLFKLQXQUHJHOPlLJHQ$EVWlQGHQ]ZLVFKHQ ,RXQG-XSLWHUDXIEDXWHQRSWLVFKXQVLFKWEDUEOLHEHQXQGQXUPLWHQWVSUHFKHQGHQ*HUlWHQJHPHVVHQ ZHUGHQNRQQWHQ ª:LUVFKDIIHQHVQLFKW©HQWIXKUHV.HQQHY7LUHN ª:LUPVVHQHVVFKDIIHQ©HUNOlUWH$PDO6ZRUJ ª+|UW]X©VDJWHGLH6WLPPHDXVGHP7HOHNRP,KUH/DXWVWlUNHVFKZDQNWHXQGZXUGH]HLWZHLOLJ YRQ SUDVVHOQGHQ 6W|UJHUlXVFKHQ EHUODJHUW ª(V JLEW DXHU GHP NLORPHWHUWLHIHQ 0LQHQVFKDFKW DP DQGHUHQ(QGHGHU 6FKOXFKW QRFK GUHL DQGHUH NU]HUH 6FKlFKWH 'HU HUVWH LVW QXU UXQG ]ZHLKXQGHUW 0HWHU YRP (LQJDQJGHU6FKOXFKWHQWIHUQW(XFKEOHLEWQLFKWVZHLWHUEULJDOVHXFKLQLKP]XYHUNULHFKHQXQG HXUH 6FKLUPIHOGSURMHNWRUHQ ]X DNWLYLHUHQ :HQQ LKU DXVVWHLJW XQG GLH 6FKLUPIHOGHU QXU EHU HXFK XQGGDPLWEHUHLQHUNOHLQHQ)OlFKHNRQ]HQWULHUWKDEWLKUYLHOOHLFKWQRFKHLQH&KDQFH© ª8QGGLH6FKLOGNU|WH"©ULHI.HQQHY7LUHNª8QGXQVHUH$XVUVWXQJ"2KQHVLHN|QQHQZLUKLHU NHLQH]ZDQ]LJ6WXQGHQEHUOHEHQ© ª1DFKGHP$ENOLQJHQVFKLFNHLFKHXFKHLQH6FKLOGNU|WH©NDPGLH$QWZRUWª0LWLKUN|QQWLKU © (LQRKUHQEHWlXEHQGHV3UDVVHOQEHUODJHUWHGLH6WLPPH $OVHVYHUVWXPPWHVDJWH.HQQHY7LUHN
ª(LQYHUVWDQGHQDEHUZDUQHGHQ)DKUHUYRUHLQHU*HU|OOKDOGH+|UVWGXPLFK"© (U YHUVWDQG VHLQH HLJHQHQ :RUWH QLFKW PHKU GHQQ GDV 3UDVVHOQ GHU DEHUPDOV DXIJHWUHWHQHQ 6W|UJHUlXVFKH EHUW|QWH DOOH DQGHUHQ /DXWH (V NODQJ GLHVPDO QLFKW DE VRQGHUQ YHUVWlUNWH VLFK LPPHUPHKU 8QWHUGHVVHQZDU.HQQHY7LUHNPLWYROODXIJHEOHQGHWHQ6FKHLQZHUIHUQLQGLH.DVVLRSDLD6FKOXFKW HLQJHIDKUHQ (U XQG $PDO 6ZRUJ PXVWHUWHQ GLH VWHLO DXIUDJHQGHQ 6HLWHQZlQGH GHQQ GLH 6WLPPH KDWWH QLFKW JHVDJW RE GHU HUZlKQWH 6FKDFKW VLFK OLQNV RGHU UHFKWV YRQ LKQHQ EHIDQG 'HU %RGHQ VHQNWHVLFK]LHPOLFKVFKQHOOXQGEDOGZDUYRP,R+LPPHOQXUQRFKHLQEUHLWHVJHOEURWOHXFKWHQGHV %DQG]XVHKHQ ª'DLVWVLH©ULHI$PDO6ZRUJXQGGHXWHWHQDFKUHFKWVYRUQ .HQQHY7LUHNV.RSIIXKUKHUXP(UHQWGHFNWHGLHWRUlKQOLFKHgIIQXQJLP)HOVHEHQIDOOV6LHZDU HWZDYLHU0HWHUKRFKXQGGUHL0HWHUEUHLW.HQQHYVWHXHUWHGLH6FKLOGNU|WHYRUGHQ(LQJDQJXQG KLHOWDQ 1DFKGHPGLHEHLGHQ3URVSHNWRUHQHLQHQ%OLFNJH ZHFKVHOWKDWWHQVFKO|VVHQVLHLKUH'UXFNKHOPH(LQHhEHUSUIXQJGHU$Q]XJIXQNWLRQHQHUVSDUWHQ VLHVLFK)DOOVHWZDVQLFKWIXQNWLRQLHUWHZDURKQHKLQNHLQH=HLWPHKUIUHLQH5HSDUDWXU 6LH DNWLYLHUWHQ GLH +HOPWHOHNRPH GDQQ QDKP $PDO 6ZRUJ GUHL GHU KDQGNRIIHUJURHQ 6FKLUPIHOGSURMHNWRUHQ GHQQ HU ZDU NUlIWLJHU DOV VHLQ 3DUWQHU GHU VLFK 6FKZHUWDW GLH EHLGHQ DQGHUHQ3URMHNWRUHQ]XVFKOHSSHQ 6LH YHUOLHHQ GLH 6FKLOGNU|WH GXUFK GLH +HFNVFKOHXVH XQG OLHIHQ LQ GHQ 6FKDFKW KLQHLQ $OV VLH VLFKQRFKHLQPDOXPGUHKWHQVDKHQVLHGLHKLQWHUGHU)DKUHUNDELQHHPSRUUDJHQGH7HOHNRPDQWHQQH DXIJOKHQ 'HU7HLOFKHQVWURPKDWWHHLQJHVHW]W 'LH EHLGHQ 0lQQHU UDQQWHQ ELV VLH DP (QGH GHV 6FKDFKWHV YRU GHP 6NHOHWW HLQHU DXVJHJOKWHQ )|UGHUPDVFKLQHDQKDOWHQPXVVWHQ ª+XQGHUWIQI]LJ0HWHUODQJ©VDJWH.HQQHY7LUHNXQGPHLQWHGHQ6FKDFKWª2EGDVUHLFKW"© $PDO6ZRUJVDJWHQLFKWVGD]XVRQGHUQVWHOOWHGLHIQI3URMHNWRUHQLP.UHLVDXI.HQQHYV)UDJH ZDUXQVLQQLJJHZHVHQ'LHVNHOHWWLHUWH)|UGHUPDVFKLQHGHUHQHOHNWURQLVFKH6FKDOWXQJHQYHUGDPSIW XQG GHUHQ PHWDOOHQH 7HLOH DXVJHJOKW ZDUHQ UHGHWHQ HLQH QXU ]X GHXWOLFKH 6SUDFKH :HQQ EHUKDXSW HWZDV VFKW]HQ NRQQWH GDQQ GLH VLFK EHUODSSHQGHQ HOHNWURPDJQHWLVFKHQ )HOGHU GHU 3URMHNWRUHQ ª)HUWLJ©VDJWH$PDO6ZRUJXQGKRFNWHVLFKDXIGHQIUHLHQ)OHFNLP.UHLVGHU3URMHNWRUHQ .HQQHY7LUHNNDXHUWHVLFKQHEHQLKP(UPXVVWHVLFKI|UPOLFKJHJHQLKQSUHVVHQXPDXFKQRFK LQGHQ.UHLV]XSDVVHQ ª$QVFKDOWHQ©ULHI$PDO6ZRUJ -HGHU3URVSHNWRUDNWLYLHUWHGLHLQVHLQHU5HLFKZHLWHEHILQGOLFKHQ6FKLUPIHOGSURMHNWRUHQ/DXWORV EDXWHQVLFKGLHVLFKEHUODSSHQGHQ0DJQHWIHOGHUDXI6LHKlWWHQHLJHQWOLFKDXFKQLFKW]XVHKHQVHLQ VROOHQ'HQQRFK HUVFKLHQSO|W]OLFKHLQHEOlXOLFKVFKLPPHUQGH$XUHROHEHUGHQEHLGHQ0lQQHUQ6LHEHZHJWHVLFK YRU XQG ]XUFN XQG HU]HXJWH /HXFKWHIIHNWH GLH DQ 1RUGOLFKWHU HULQQHUWHQ 6LH ZXUGHQ DQ GHU 2EHUIOlFKHGHU6FKLUPIHOGHUHU]HXJWDXIGLHGHU7HLOFKHQVWURPYRP-XSLWHUWUDI 'LH 3URVSHNWRUHQ KRFNWHQ 5FNHQ DQ 5FNHQ XQG VWDUUWHQ DXI GDV EOlXOLFKH /HXFKWHQ .HQQHY 7LUHNPXUPHOWH8QGHXWOLFKHVYRUVLFKKLQ$PDO6ZRUJIKOWHZLHVHLQ0DJHQVLFKYHUNUDPSIWH DOV GLH $XUHROH VWlUNHU DXIOHXFKWHWH =XP HUVWHQPDO IUDJWH HU VLFK RE HU GDV 5LVLNR QLFKW XQWHUVFKlW]WKDWWH 'DV/HXFKWHQZXUGHVRJUHOOGDVVGLH3URVSHNWRUHQLKUH$XJHQVFKOLHHQPXVVWHQ$PDO6ZRUJ K|UWHLP+HOPWHOHNRPVHLQHQ3DUWQHUHWZDVUXIHQ(VVFKLHQHLQ1DPH]XVHLQDEHUHUYHUVWDQGLKQ QLFKW -lKOLQJVDXIVWHLJHQGH3DQLNVFKLHQVHLQ+HU]]XVDPPHQSUHVVHQ]XZROOHQ(U|IIQHWHGHQ0XQG ]XHLQHP6FKUHLNDPDEHUQLFKWGD]XLKQDXV]XVWRHQ 'LH VRQQHQKHOOH *OXW GHU VFKPHO]HQGHQ 3URMHNWRUHQ GUDQJ VRJDU GXUFK GLH JHVFKORVVHQHQ /LGHU
GHUEHLGHQ0lQQHU$EHUGLH:DKUQHKPXQJNDPQLHPDOVLQLKUHQ*HKLUQHQDQGLHLQGHU+LW]HGHU YHUJOKHQGHQ0HWDOOWHLOHGHU5DXPDQ]JHNXU]DXINRFKWHQ 'UHL3HUVRQHQVDHQLQHLQHP5DXPLQ7HUUDQLD&LW\XPHLQHQ7LVFKHLQH)UDXXQG]ZHL0lQQHU ,KUH*HVLFKWHUZLUNWHQHUQVWXQGVRUJHQYROO ª6LHKDEHQYHUVDJW©VDJWHGLH)UDX (LQHUGHU0lQQHUVFKWWHOWHGHQ.RSI ª'HU9HUVXFKZDUYRQYRUQKHUHLQ]XP6FKHLWHUQYHUXUWHLOW6ZRUJXQG7LUHNKDWWHQNHLQHHFKWH &KDQFH*HJHQGLH*HZDOWHQGHUHQHUJHWLVFKHQ6XSHUWDLIXQHYRQ,RVFKW]HQQXU3DUDWURQVFKLUPH© ª:LU PXVVWHQ HV GHQQRFK YHUVXFKHQ© HUNOlUWHGHU DQGHUH 0DQQ ª(V JHQJW QLFKW GDVV XQVHUH 7ULVRQLXPI|UGHUXQJHLQHDXVJHJOLFKHQH%LODQ]DXIZHLVW$OVZLUGDV *HELHW DXINDXIWHQ UHFKQHWHQ ZLU PLW *HZLQQHQ LP ]Z|OIVWHOOLJHQ %HUHLFK (QWVSUHFKHQG GLVSRQLHUWHQZLULQDQGHUHQ%HUHLFKHQ:LUQDKPHQPLWWHOIULVWLJYHUVFKLHGHQH 9HUOXVWJHVFKlIWHLQ .DXIGDZLUGLH9HUOXVWHPLWGHQ*HZLQQHQDXVGHP7ULVRQLXPHUO|VPHKUDOV]XGHFNHQKRIIWHQ ELVZLUGXUFK,QYHVWLWLRQHQXQG5DWLRQDOLVLHUXQJVPDQDKPHQODQJIULVWLJEHUDOO*HZLQQHHU]LHOHQ NRQQWHQ 6WDWWGHVVHQULWWHQZLUXQVLPPHUWLHIHULQGLHQHJDWLYHQ%LODQ]HQKLQHLQ:LUPXVVWHQEHLSULYDWHQ 9HUPLWWOHUQ.UHGLWHDXIQHKPHQXQGXQVZHLWEHUGHQ=HLWZHUWXQVHUHU)LUPDKLQDXVYHUVFKXOGHQ 'LH=LQVHQGURKHQXQVLQGHQ%DQNURWW]XVWU]HQ(LQH(UZHLWHUXQJGHU7ULVRQLXPI|UGHUXQJZDU GHUHLQ]LJH$XVZHJVRVFKLHQHV:HQQZLUQRFK]HKQ3DUDWURQVFKLUPDJJUHJDWHEHNRPPHQKlWWHQ GDQQ© ª+|U PLW GLHVHP :XQVFKGHQNHQ DXI© VDJWH GLH )UDX NDOW ª0LW :HQQ XQG $EHU NRPPHQ ZLU QLFKW]XP=LHO© ª(V LVW VRZLHVR DOOHV HJDO© PHLQWH GHU HUVWH 0DQQ UHVLJQLHUW ª:DV LFK EHU GLH VRJHQDQQWHQ 2UELWHUIORWWHQ JHK|UW KDEH VDJW PLU GDVV XQVHUH JDQ]H =LYLOLVDWLRQ EHU NXU] RGHU ODQJ ]HUVW|UW ZHUGHQZLUG:DVVSLHOWHVGDQQIUHLQH5ROOHREZLUPLWRGHURKQH6FKXOGHQXQWHUJHKHQ"© ª$EHUZHQQGLH2UELWHUJHIDKUVLFKDOVJDUQLFKWVRVFKOLPPHUZHLVW©ZDUIGHU]ZHLWH0DQQHLQ ª:LU NlPHQ LQ GLH 5HKDELOLWDWLRQ XQG ZlUHQ KLQWHUKHU DUPH YRQ LKUHQ *HZLVVHQ JHSODJWH 6FKOXFNHUGLHDXIGHUXQWHUVWHQVR]LDOHQ(EHQHDQIDQJHQPVVWHQ© ª1LFKWZHQQZLUXQVHUH*HKLUQH]XP'HQNHQJHEUDXFKHQ©ZDUIGLH)UDXHLQª,FKJHKHGDYRQ DXVGDVVGLH/)75HJLHUXQJGLH2UELWHUJHIDKUPHLVWHUQZLUG'LHVHU7LIIORULVW]ZDUHLQ3KDQWDVW XQGQlUULVFKHU,GHDOLVWZDVVHLQH3OlQH]XPIULHGOLFKHQ0LWHLQDQGHUGHUJDODNWLVFKHQ=LYLOLVDWLRQHQ DQJHKW DEHU ZHQQ HLQH UHDOH *HIDKU DXIWULWW ZLUG HU ZLHGHU ]XP 5HDOLVWHQ XQG HU NDQQ VHKU WDWNUlIWLJVHLQ© ª'DQQ VFKHLGH LFK OLHEHU KHXWH DOV PRUJHQ IUHLZLOOLJ DXV GHP /HEHQ© VDJWH GHU HUVWH 0DQQ ª2GHUKDVWGXHLQH,GHHZLHGXHLQ:XQGHUEHZLUNHQNDQQVW"© 'LH)UDXOlFKHOWHEHUOHJHQ ª,KU0lQQHUGHQNWLPPHU]XDJJUHVVLYXQGYHUEDXWHXFKGDPLWGLHEHVWHQ0|JOLFKNHLWHQ)UDXHQ GDJHJHQ VFKUHFNHQ YRU 9HUZLFNOXQJHQ LQ DJJUHVVLYH +DQGOXQJHQ ]XUFN XQG ILQGHQ GDGXUFK RIWPDOV 0|JOLFKNHLWHQ DEUXSWH :DQGOXQJHQ KHUEHL]XIKUHQ RKQH GDVV HWZDV (UNHQQEDUHV GD]X JHVFKLHKW© ª'XVSULFKVWLQ5lWVHOQ©HUZLGHUWHGHUHUVWH0DQQ ª1XUIU0lQQHU©HUNOlUWHGLH)UDXªhEHUSUIWREGHU5DXPDEK|UVLFKHULVWGDQQK|UWPLU]X ,FKZHLZLHZLUDXVXQVHUHP'LOHPPDKHUDXVNRPPHQXQGPHKU7ULVRQLXPDOVELVKHUYHUNDXIHQ YLHOPHKUVRJDU©
.\URQ%DUUDNXQWDVWHWHVLFKHLQ)UXFKWVDIWJHWUlQNXQGOHKQWHVLFKEHTXHPLQV6LW]SROVWHUVHLQHV )OXJJOHLWHUV]XUFN (UKDWWHZLHGHUHLQPDOHLQHQ$XIWUDJ]XUYROOHQ=XIULHGHQKHLWVHLQHV$XIWUDJJHEHUVHLQHU,PSRUW ([SRUW)LUPD JHO|VW XQG EHIDQG VLFK DXI GHP 5FNIOXJ QDFK 7HUUDQLD &LW\ ZR GLH )LUPD &20387(5.,' &R (50,77/81*(1 ,1)250$7,21(1 '$7(1$1$/<6(1 LP +DXVH'ROHQF3ODFH1UOHLQH%URHWDJHJHPLHWHWKDWWH 'HUOHW]WH$XIWUDJZDUUHLQH5RXWLQHJHZHVHQ'HUOHLWHQGH$QJHVWHOOWHHLQHU)LUPDKDWWHVHLQHQ IUHLHQ=XJULII]XP+DXSWFRPSXWHUVSHLFKHU GD]X DXVJHQXW]W HLQHILNWLYH*HVFKlIWVYHUELQGXQJPLW HLQHU6FKHLQILUPDGDWHQPlLJDXI]XEDXHQXQGIUILNWLYH/LHIHUXQJHQHFKWHhEHUZHLVXQJHQDXIGDV .RQWRGHU6FKHLQILUPDGXUFKIKUHQ]XODVVHQYRQGHPZLHGHUXPSHU 'DXHUDXIWUDJhEHUZHLVXQJHQDXIVHLQHLJHQHV.RQWRJLQJHQ (V ZDU HLQ OXNUDWLYHV *HVFKlIW JHZHVHQ DEHU LUJHQGZDQQ PXVVWH HV MD DXIIDOOHQ GDVV GHU +DXSWFRPSXWHU /LHIHUXQJHQ EH]DKOWH YRQ GHQHQ VLFK QLFKWV LP /DJHU ILQGHQ OLH ZHQQ GDUDXI ]XUFNJHJULIIHQZHUGHQVROOWH .\URQ %DUUDNXQ QLSSWH DQ VHLQHP *HWUlQN XQG OlFKHOWH ,P =HLWDOWHU GHU FRPSXWHULVLHUWHQ *HVHOOVFKDIW KDWWH GLH HKHPDOLJH 6WHKNUDJHQ.ULPLQDOLWlW QHXH )RUPHQ XQG 'LPHQVLRQHQ DQJHQRPPHQ 'LH &RPSXWHU YHUKLHOWHQ VLFK ]XU :LUWVFKDIWVNULPLQDOLWlW ZLH IUKHU 'LHWULFKH XQG VSlWHU6FKORLPSXOVDEWDVWHU]XU(LQEUXFKVXQG'LHEVWDKOVNULPLQDOLWlW 6RZLHVLFKIUKHUH*HVHOOVFKDIWHQPLW(LJHQWXPVGHOLNWHQKDWWHQDEILQGHQPVVHQREVFKRQVLH VLH YHUIROJW KDWWHQ VR PXVVWH VLFK GLH *HVHOOVFKDIW GHV &RPSXWHU=HLWDOWHUV LQ HLQHP JHZLVVHQ 8PIDQJ PLW GHP NULPLQHOOHQ 'DWHQPLVVEUDXFK DEILQGHQ (LQ HUVFKZHUHQGHU )DNWRU EHL GHU $XINOlUXQJ VROFKHU 0LVVEUlXFKH ZDU GHU KRKH 9HUIROJXQJVDXIZDQG GHU EHK|UGOLFKHUVHLWV YRU DOOHP XQWHU GHP +DQGLNDS LQWHOOHNWXHOOHU (QJSlVVH OLWW .ULPLQHOOH EHVDHQ RIW GLH EHVVHUHQ )DFKNHQQWQLVVHDOVGLH0LWDUEHLWHUGHV.ULPLQDOLVWLVFKHQ2UGQXQJVGLHQVWV 9RQGLHVHP0DQJHOSURILWLHUWHQXQWHUDQGHUHP.\URQ%DUUDNXQXQGVHLQHEHLGHQ3DUWQHU&DULOGD 7RGD\ XQG GHU +RPRQLGURERWHU (DUQ\ 6LH ZXUGHQ YRQ GHU ,QGXVWULH XQG YRQ %HK|UGHQ PLW $XIWUlJHQEHUKlXIWVRGDVVVLHVLFKQRWJHGUXQJHQQXUGLHVFKZLHULJVWHQ)lOOHKHUDXVSLFNWHQXQG GLHOHLFKWHUHQGHQDQGHUHQ(UPLWWOXQJVILUPHQEHUOLHHQ .\URQ%DUUDNXQVHQWVFKHLGHQGHU9RUWHLOJHJHQEHUDQGHUHQ(UPLWWOHUQEHVWDQGGDULQGDVVHUGHU VHLQHIUKHVWH.LQGKHLWXQGVHLQH-XJHQGDXIHLQHPODULVFKHQ&RPSXWHUVFKLIIYHUEUDFKWKDWWHYRQ HLQHPH[WUHPKRFKZHUWLJHQ&RPSXWHUHU]RJHQZRUGHQZDU'D GXUFK KDWWH VLFK EHL .\URQ HLQ H[WUHP LQWHQVLYHV 9HUVWlQGQLV DOOHU SRVLWURQLVFKHQ XQG HOHNWURQLVFKHQ9RUJlQJHLQKRFKZHUWLJHQN\EHUQHWLVFKHQ6\VWHPHQHQWZLFNHOW(UYHUPRFKWHVHOEVW ZLHHLQKRFKZHUWLJHU&RPSXWHU]XGHQNHQXQG]XIKOHQ ª$FKWXQJ/DQGHDQIOXJDXI'DFKYRQ'ROHQF3ODFH1UO©PHOGHWHGHU&RPSXWHUGHV*OHLWHUV .\URQ OHHUWH VHLQHQ 7ULQNEHFKHU XQG ZDUI LKQ LQ GHQ $EIDOOVFKOXFNHU :lKUHQG HU GXUFK GDV WUDQVSDUHQWH 3DQ]HUWURSORQ GHU *OHLWHUNDELQH DXI GDV +lXVHUPHHU YRQ 7HUUDQLD &LW\ VFKDXWH EHUOHJWHHUGDVVLKPZHQQHUDQGHU6WHOOHGHVYRQLKPEHUIKUWHQ$QJHVWHOOWHQJHZHVHQZlUH NHLQ )HKOHU XQWHUODXIHQ ZlUH (U KlWWH GHQ %HWUXJ VR SHUIHNW HLQIlGHOQ N|QQHQ GDVV LKP QLHPDOV MHPDQGDXIGLH6FKOLFKHJHNRPPHQZlUH 'RFKGDVZDUHQQXUWKHRUHWLVFKHhEHUOHJXQJHQ.\URQ%DUUDNXQEHVDQLFKWGLH0HQWDOLWlWGLH HVMHPDQGHPHUODXEWH%HWUJHUHLHQ]XUHLJHQHQ%HUHLFKHUXQJ]XSODQHQXQGGXUFK]XIKUHQ=ZDU KDWWHDXFKHUVFKRQPLW7ULFNVJHDUEHLWHWGLHHWZDVDXHUKDOEGHU/HJDOLWlWODJHQDEHUQXUZHQQHV JDOW8QUHFKW]XEHVHLWLJHQRGHU*HIDKUHQIUGLH*HVHOOVFKDIWDE]XZHQGHQ 'HU *OHLWHU VHW]WH VDQIW DXI GHP 3DUNGDFK GHV VLHE]HKQ 6WRFNZHUNH KRKHQ *HElXGHV DXI GDV ZlKUHQGGHUVFKZHUHQ=HLWGHU$SKLOLHDOVQFKWHUQHU=ZHFNEDXHUULFKWHWZRUGHQZDU1DFKGHP (QGH GHU .RQ]LOVKHUUVFKDIW XQG QDFK GHU 5FNNHKU 7HUUDV LQV 6ROV\VWHP KDWWH GHU PLW GHU 5HQRYLHUXQJEHDXIWUDJWH$UFKLWHNWGLHQFKWHUQH+lVVOLFKNHLWGHV.RORVVHVHUIROJUHLFKDEJHPLOGHUW LQGHPHUGLHEHLGHQXQWHUHQ6WRFNZHUNHXPJHEDXWKDWWH 6LH EHVWDQGHQ GDQDFK DXV HLQHU YRQ WRUERJHQI|UPLJHQ 5HOLHI JHVFKPFNWHQ 3ODWLQVlXOHQ JHWUDJHQHQ +DOOH YROOHU 6SULQJEUXQQHQ 3IODQ]HQ XQG HLQHP RYDOHQ 5DVHQVWFN 'LH YRQ GHQ
VSLUDOI|UPLJHQ1RWWUHSSHQXPULQJHOWHQ6lXOHQGHU$QWLJUDYVFKlFKWHUDJWHQYRQ REHQ LQ GLH +DOOH KLQHLQ XQG YHUVFKZDQGHQ LP %RGHQ ZR VLH ]X GHQ IQI 6XEHWDJHQ XQG GHP 7UDQVSRUWEDQGDQVFKOX]XUQlFKVWHQ9DNXURKUEDKQVWDWLRQIKUWHQ :lKUHQG .\URQ %DUUDNXQ DXVVWLHJ XQG DXI GLH 3IRUWHQNXSSHO HLQHV $QWLJUDYVFKDFKWV ]X HLOWH VHW]WHVLFKGHU*OHLWHUFRPSXWHUPLWGHP3DUNLQJFRPSXWHULQ9HUELQGXQJXQGOLHVLFKYRQHLQHP HQHUJHWLVFKHQ *OHLWEDQG ]X VHLQHP 3ODW] LP XQWHUHQ GHU GUHL 3DUNGHFNV DXV WUDQVSDUHQWHP 0HWDOOSODVWLNEULQJHQGLHGDVREHUVWH6WRFNZHUNGHV*HElXGHVNU|QWHQ .\URQ VFKZHEWH ]XP VLHE]HKQWHQ 6WRFNZHUN KLQDE VWLHJ DXV XQG JLQJ DXI GHQ +DXSWHLQJDQJ VHLQHU %URHWDJH ]X (V KDQGHOWH VLFK QLFKW XP HLQH JHZ|KQOLFKH 7U VRQGHUQ XP HLQ DXV ]ZHL +lOIWHQ EHVWHKHQGHV 6WDKOSODVWLNVFKRWW PLW VHQVRUJHVWHXHUWHU 6XSHUUHIOH[LRQ :HU HLQHQ %ODVWHUVFKX DXI GLHVHV 6FKRWW DEIHXHUWH XP HV ]X ]HUVW|UHQ GHU ZUGH YRQ GHU UHIOHNWLHUWHQ (QHUJLHVHLQHUHLJHQHQ:DIIHYHUGDPSIWZHUGHQ .\URQ KLHOW VHLQH ,'.DUWH DXI GLH OHXFKWHQGH .RQWUROOIOlFKH QHEHQ GHP 6FKRWW 'LH +lOIWHQ JOLWWHQ ODXWORV DXVHLQDQGHU (LQH JURH PLW 3IODQ]HQNEHOQ IDVW ]XJHVWHOOWH 9RUKDOOH QDKP .\URQ DXI(UEOLHEHLQH:HLOHPLWJHVFKORVVHQHQ$XJHQVWHKHQXQGOLHGLHSVLRQLVFKH$XVVWUDKOXQJGHU %lXPH 6WUlXFKHU 6FKOLQJSIODQ]HQ XQG %OXPHQ DXI VLFK HLQZLUNHQ (V ZDUHQ DOOHV 3IODQ]HQ YRQ GHQ$UWHQGLHGHU.HUQGHV5HF\FOLQJ6\VWHPGHVODULVFKHQ&RPSXWHUVFKLIIVJHZHVHQZDUHQ'DV &RPSXWHUVFKLIIKDWWHGLHVHV6\VWHPHLJHQVIU.\URQHLQJHULFKWHWXPRSWLPDOH/HEHQVJUXQGODJHQ IU LKQ ]X VFKDIIHQ XQG .\URQ %DUUDNXQ KDWWH VLFK PHQWDO XQG SVLRQLVFK DQ MHQH 3IODQ]HQJHPHLQVFKDIWDQJHSDVVW 'LHSVLRQLVFKH$XVVWUDKOXQJGHU9RUKDOOHQSIODQ]HQZLUNWHZRKOWXHQGDXI.\URQVSK\VLVFKHXQG SV\FKLVFKH 6WDELOLWlW XQG OLH LKP QHXH .UlIWH ]XIOLHHQ GLH IU JHZ|KQOLFKH 7HUUDQHU XQYRUVWHOOEDUZDUHQ $XVGHU9HUlQGHUXQJGLHVHUSVLRQLVFKHQ$XVVWUDK OXQJVSUWH.\URQ%DUUDNXQKHUDXVGDVV&DULOGD7RGD\GLH9RUKDOOHEHWUHWHQKDWWH(U|IIQHWHGLH $XJHQXQGVDKVHLQH3DUWQHULQDQ &DULOGD ZDU HLQH HWZD YLHU]LJMlKULJH )UDX WHUUDQLVFKHU $EVWDPPXQJ 0HWHU JUR GHU PDQ WURW]GHU]DKOUHLFKHQ%UDQGQDUEHQDPJDQ]HQ.|USHUGLHHKHPDOVPDNHOORVH6FK|QKHLWQRFKDQVDK ,KU GXUFK HLQH IUKHUH (UNUDQNXQJ DXVJHIDOOHQHV .RSIKDDU HUVHW]WH VLH GXUFK HLQH VFKZDU]H 3HUFNH ,KUH(ULQQHUXQJHQDQGLH=HLWGLHYRUGHP%HVWHLJHQGHV6DPPOHUVFKLIIVODJGDVVLHQDFK7HUUD JHEUDFKW KDWWH ZDUHQ YHUVFKZXQGHQ :DKUVFKHLQOLFK KDWWHQ WUDXPDWLVFKH (UOHEQLVVH ZlKUHQG GHU .RQ]LOVKHUUVFKDIW GLHVH $PQHVLH YHUXUVDFKW ,KUH IUKHUHQ )lKLJNHLWHQ XQG LKU MXULVWLVFKHV )DFKZLVVHQ DEHU ZDUHQ HUKDOWHQ JHEOLHEHQ .\URQ %DUUDNXQ KDWWH VLH QDFK VHLQHU ª5FNIKUXQJ© ]XU (UGH DXI &H\ORQ JHWURIIHQ ZR VLH HQJDJLHUW JHJHQ %URNUDWLHXQGVNUXSHOORVHZLUWVFKDIWOLFKH ,QWHUHVVHQJUXSSHQXQGIUHLQHJHUHFKWH9HUWHLOXQJYRQ/DQGDQGLH5FNVLHGOHUNlPSIWH 6LH ZDUHQ 9HUEQGHWH JHZRUGHQ XQG VLH KDWWHQ HV WURW] YLHOHU 6FKZLHULJNHLWHQ XQG WURW] LKUHU PlFKWLJHQ*HJQHUJHVFKDIIWGHQ:LUWVFKDIWVYHUEUHFKHUQGDV+DQGZHUN]XOHJHQ ª+DOOR©VDJWH.\URQ &DULOGDOlFKHOWH ª+DOOR.\URQ/DGLFKGXUFKPLFKQLFKWVW|UHQ:HQQLFKJHZXVVWKlWWHGDVVGX© .\URQ%DUUDNXQZLQNWHODFKHQGDE ª6FKRQJXW&DULOGD,FKELQYROOHUIULVFKW:LHODXIHQGLH*HVFKlIWHEHLGLU"© &DULOGDPDFKWHHLQHUQVWHV*HVLFKW ª(LQ0LVWHU9DUPLQGLVWJHUDGHGD.\URQ(ULVW6LFKHUKHLWVEHDXIWUDJWHUIU,PSHULXP$OSKDXQG ZROOWHQLFKWHKHUVHLQ$QOLHJHQYRUWUDJHQDOVELVGXGDEHLELVW© ª(NURQ9DUPLQG©VDJWH.\URQ%DUUDNXQª,FKKDEH LKQ HLQPDO EHL 7LII NHQQHQJHOHUQW :HQQ HU ]X XQV NRPPW PXVV HV ZLUNOLFK EHL LKP EUHQQHQ *HKHQZLU]XLKP©
(NURQ9DUPLQGVDLP$UEHLWV]LPPHU&DULOGDVXQGHUKREVLFKDOVVLHPLW.\URQHLQWUDW (U ZDU HLQ JURHU VFKODQNHU 0DQQ LP EHVWHQ $OWHU YRQ -DKUHQ XQG KDWWH ZlKUHQG GHU .RQ]LOVKHUUVFKDIW DQ GHU 5RGGHQEHUU\ $FDGHPLH DXI *lD VWXGLHUW ZR )KUXQJVNUlIWH IU NRPELQLHUWH|NRQRPLVFKHXQGPLOLWlULVFKH$XIJDEHQJHELHWHDXVJHELOGHWZRUGHQZDUHQ9RUDOOHP DEHUZDUGDV6WXGLHQSURJUDPPYRQ$QIDQJDQDXIGLH=HLWQDFKGHU.RQ]LOVKHUUVFKDIWXQGDXIHLQ IULHGOLFKHV 1HEHQHLQDQGHU XQG VSlWHUHV 0LWHLQDQGHU GHU JDODNWLVFKHQ =LYLOLVDWLRQHQ DXVJHULFKWHW JHZHVHQ ª+DOOR(NURQ©ULHI.\URQ%DUUDNXQ ª+DOOR.\URQ©HUZLGHUWH(NURQ9DUPLQGXQGQHLJWHGHQ.RSI ª%LWWH QHKPHQ 6LH ZLHGHU 3ODW]© VDJWH .\URQ ª'DUI LFK ,KQHQ HWZDV DQELHWHQ .DIIHH 7HH /LPRQDGH"© ª7HH ELWWH© DQWZRUWHWH GHU 6LFKHUKHLWVEHDXIWUDJWH XQG VHW]WH VLFK ZLHGHU LQ GHQ EHTXHPHQ 6HUYRVHVVHODPUXQGHQ%HVXFKHUWLVFK %HYRU.\URQUHDJLHUWHKDWWH&DULOGDEHUHLWVHLQ*ODV7HHDP9HUVRUJXQJVDXWRPDWHQJHWDVWHW6LH VWHOOWHHVDXIHLQ7DEOHWWVWHOOWH=XFNHUXQG6DKQHGD]XXQGVHW]WHHVYRU(NURQ9DUPLQGDXIGHP (GHOKRO]LPLWDWWLVFKDE .\URQ ZDUWHWH ELV &DULOGD 3ODW] JHQRPPHQ KDWWH GDQQ VHW]WH HU VLFK HEHQIDOOV 6HLQH %HZHJXQJHQ ZLUNWHQ QRFK LPPHU HWZDV XQEHKROIHQ 'LH *HVHOOVFKDIW DQGHUHU 0HQVFKHQ ZDU IU LKQQRFKQLFKWVHOEVWYHUVWlQGOLFKJHZRUGHQ 1DFKGHP(NURQ9DUPLQGVHLQHQ7HHJHVWKDWWHQLSSWHHUDP*ODVXQGVDJWH ª,FKKDEHHLQ3UREOHP.\URQ© ª'DVKDEHQDOOH0HQVFKHQGLHXQVHUH'LHQVWHEHDQVSUXFKHQP|FKWHQ(NURQ©HUZLGHUWH.\URQ ª:RUXPKDQGHOWHVVLFK"© ª6DERWDJH©HUNOlUWH(NURQ9DUPLQGª*HQDXHUJHVDJWXPHLQODZLQHQDUWLJHV$QVFKZHOOHQYRQ 6DERWDJHIlOOHQ VHLW GUHLHLQKDOE :RFKHQ 1DWUOLFK KDW HV VFKRQ LPPHU )lOOH YRQ 6DERWDJH LP ZLUWVFKDIWOLFKHQ XQG PLOLWlULVFKHQ %HUHLFK JHJHEHQ NULPLQHOOH $XVZFKVH YRQ .RQNXUUHQ]NlPSIHQ DOOHU $UW XQG 7DWHQ YRQ *HLVWHVNUDQNHQ 'LHVPDO DEHU EHVWHKW HLQH DXHUJHZ|KQOLFKH +lXIXQJ YRQ =LHOULFKWXQJHQ 'DV KHLW GLH PHLVWHQ 6DERWDJHIlOOH GHU OHW]WHQ VHFKVHLQKDOE :RFKHQ ULFKWHWHQ VLFK JHJHQ 5DXPVFKLIIH GHU /)7)ORWWH 6FKLIIVZHUIWHQ JHJHQ 7UDQVSRUWH YRQ =XEHK|U XQG 9HUVRUJXQJVJWHUQ IU GLH )ORWWH XQG JHJHQ 7UDQVPLWWHU GLH (UVDW]WHLOHIU5DXPVFKLIIHGHU/)7)ORWWHWUDQVSRUWLHUHQ© ª$OVR6DERWDJHPLWGHP=LHOHLQHU6FKZlFKXQJGHU9HUWHLGLJXQJVNUDIWGHU/)7©NRPPHQWLHUWH &DULOGD7RGD\ª,FKGHQNH6LHVROOWHQGULQJHQGYHUVXFKHQHLQLJHGHU6DERWHXUH]XIDQJHQGDPLW GLH9HUK|UHGLH0RWLYDWLRQHQGLHVHU/HXWHHUKHOOHQ© (NURQ9DUPLQGV*HVLFKWGUFNWH+LOIORVLJNHLWDXV ª:LUNRQQWHQGLHPHLVWHQ6DERWHXUHIHVWQHKPHQZHLOVLHVLFKNDXP0KHJDEHQLKUH6SXUHQ]X YHUZLVFKHQ 6LH VLQG DOVR DXI NHLQHQ )DOO 3URILV RGHU DQJHKHXHUWH /DLHQ GLH PDQ IU LKUH 7DWHQ DXVJHELOGHWKlWWH,P*HJHQWHLOHVKDQGHOWVLFKDXVQDKPVORVXPELVKHUXQEHVFKROWHQHIHVWLQGLH *HVHOOVFKDIW LQWHJULHUWH %UJHU DQ GHUHQ /R\DOLWlW ]XU /)7 QLHPDQG JH]ZHLIHOW KlWWH ZHQQ VLH QLFKW6DERWDJHYHUEWKlWWHQ 8QG ZDV GLH 0RWLYDWLRQHQ DQJHKW VR VDJWHQ VLH DOOHVDPW ]LHPOLFK ZLUUHV =HXJ EHU GLH 1RWZHQGLJNHLWHLQHU)HVWLJXQJGHV)ULHGHQVXQGGHU9HUKLQGHUXQJZHLWHUHU.ULHJHDXV6LHNRQQWHQ DEHUQLFKWVORJLVFKEHJUQGHQ,FKVWHKHYRUHLQHP5lWVHO© ª8QGZDVVROOHQZLUGDEHLWXQ"©IUDJWH.\URQ%DUUD NXQ YHUZXQGHUW ª:LU QHKPHQ QXU )lOOH DQ EHL GHQHQ &RPSXWHU ]X NULPLQHOOHQ 7DWHQ PLVVEUDXFKWZXUGHQRGHUEHLGHQHQZLU,QIRUPDWLRQHQEHVFKDIIHQVROOHQGLHQXUPLW+LOIHXQVHUHU )DFKNHQQWQLVVH EHU &RPSXWHU ]X HUUHLFKHQ VLQG ,KU )DOO DEHU VFKHLQW HWZDV IU 3V\FKRNULPRQRORJHQXQG3V\FKLDWHU]XVHLQHLQH$UW0DVVHQK\VWHULHRGHU0DVVHQQHXURVH0HLQH 3DUWQHUXQGLFKYHUVWHKHQGDYRQQLFKWYLHO© (NURQ9DUPLQGVHXI]WH ª:HQQHVVRZlUHZVVWHQZLUHVLQ]ZLVFKHQ.\URQ6HOEVWYHUVWlQGOLFKKDEHLFKGLH7lWHUDXI
LKUHQ *HLVWHV]XVWDQG SUIHQ ODVVHQ %LV DXI GLH HUZlKQWH IL[H ,GHH VLQG VLH QRUPDO $XHUGHP EHGDUI HV ]XU (QWVWHKXQJ YRQ 0DVVHQSKlQRPHQHQ GHV .RQWDNWV ]ZLVFKHQ GHQ %HWURIIHQHQ 'DV WULIIW DEHU QXU DXI ]ZHL GHU LQVJHVDPW KXQGHUWVLHEHQ 7lWHU ]X $OOH DQGHUHQ KDWWHQ VLFK QLH ]XYRU JHVHKHQXQGQLH]XYRUPLWHLQDQGHUJHVSURFKHQ+\VWHULHQRGHU1HXURVHQYHUEUHLWHQVLFKDEHUQLFKW GXUFKGLH/XIWZLH9LUXVLQIHNWLRQHQ6LHEHGUIHQGHU.RPPXQLNDWLRQ© ª.RPPXQLNDWLRQ DEHU ZLUG JU|WHQWHLOV GXUFK &RPSXWHU JHVWHXHUW RGHU NRQWUROOLHUW© PHLQWH .\URQ%DUUDNXQQDFKGHQNOLFKª'HVKDOENDPHQ6LHDOVR]XXQV(NURQ:LUVROOHQIHVWVWHOOHQREHV P|JOLFK ZDU GDVV GDV WHUUDQLVFKH &RPSXWHUQHW] NUDQNKDIWH 9RUVWHOOXQJHQ YRQ %HQXW]HUQ DXIJHQRPPHQXQGDXILUJHQGHLQH:HLVHDQZHLWHUH%HQXW]HUZHLWHUJHJHEHQKDW© (NURQQLFNWH ª5LFKWLJ$EHUHVKDQGHOWVLFKQLFKWQXUXPGDVWHUUDQLVFKH&RPSXWHUQHW]*DQ]lKQOLFKJHODJHUWH )lOOH YRQ 6DERWDJH PHOGHWHQ GLH 6LFKHUKHLWVGLHQVWH GHU +DXSWSODQHWHQ YRQ 1HX$UNRQLGHQ 6SULQJHUQ7RSVLGHUQ$NRQHQXQG%OXHV© ª'DVLVWXQP|JOLFK©HQWVFKLHG.\URQ%DUUDNXQª(VJLEWNHLQH9HUIOHFKWXQJGHU&RPSXWHUQHW]H GHU JDODNWLVFKHQ =LYLOLVDWLRQHQ ,Q ]ZHL GUHLKXQGHUW -DKUHQ YLHOOHLFKW DEHU MHW]W QLFKW )ROJOLFK N|QQHQ&RPSXWHU DXFK QLFKW GDV 0HGLXP JHZHVHQVHLQPLWGHVVHQ+LOIHVLFKGLH=ZDQJVYRUVWHOOXQJHQYHUEUHLWHW KDEHQVROOHQ© ª.|QQWH GDV $XIWDXFKHQ GHU 2UELWHUIORWWHQ GDPLW ]XVDPPHQKlQJHQ"© ZDUI &DULOGD HLQ ª'LH $EULHJHOXQJ YLHOHU ZLFKWLJHU 3ODQHWHQ XQG 6RQQHQV\VWHPH GXUFK ULHVLJH $UPDGHQ YRQ .HLOUDXPVFKLIIHQXQGGLHXOWLPDWLYH)RUGHUXQJGHUVRJHQDQQWHQ2UELWHUDOOH*DUEHVFKLDQHUXQG VLH KDOWHQ DOOH KXPDQRLGHQ 9|ONHU GHU *DOD[LV IU *DUEHVFKLDQHU VROOWHQ LQQHUKDOE HLQHU EHVWLPPWHQ )ULVW GLHVH *DOD[LV YHUODVVHQ ZDU GRFK HLQ 6FKRFN IU DOOH $QJHK|ULJHQ GLHVHU =LYLOLVDWLRQHQ (LQ VROFKHU 6FKRFN NDQQ EHL HQWVSUHFKHQG ODELOHQ 1DWXUHQ JOHLFKDUWLJH =ZDQJVYRUVWHOOXQJHQHQWVWHKHQODVVHQ© ª,FK ELWWH 6LH &DULOGD© VDJWH (NURQ 9DUPLQG EHVFKZ|UHQG ª*ODXEHQ 6LH PLU GDVV LFK DXFK GLHVH 0|JOLFKNHLW QLFKW XQJHSUIW OLH $EHU GLH 8QWHUVXFKXQJHQ HUJDEHQ QXU EHL VLHEHQ GHU WHUUDQLVFKHQ7lWHUHLQHODELOHXQGIU=ZDQJVYRUVWHOOXQJHQDQIlOOLJH3V\FKH'LHPHLVWHQ6DERWHXUH ZDUHQLP*HJHQWHLOEHUGXUFKVFKQLWWOLFKVWDELO© ª:LU N|QQHQ HV LKP JODXEHQ &DULOGD© VDJWH .\URQ ª(LQ 5RGGHQEHUU\0DQQ OlVVW NHLQH 0|JOLFKNHLWDXHUDFKW'HQQRFKIUFKWHLFKGDVVZLU,KQHQQLFKWKHOIHQN|QQHQ(NURQ© ª%LWWHYHUVXFKHQ6LHHV.\URQ©(NURQV6WLPPHNODQJIOHKHQG .\URQ %DUUDNXQZDUGLHVHQ7RQYRQ(NURQ9DUPLQGQLFKWJHZ|KQW(VHUVFKWWHUWHLKQGLHVHQ ]LHOVWUHELJHQWFKWLJHQXQG0HQVFKOLFKNHLWSUDNWL]LHUHQGHQ0DQQSUDNWLVFKEHWWHOQ]XVHKHQ ª:LUEHUQHKPHQGHQ)DOO©VDJWHHUVFKQHOOª0LW,KUHU8QWHUVWW]XQJDOOHUGLQJV© ª'DQNH .\URQ© ULHI (NURQ HUOHLFKWHUW XQG LQ VHLQH $XJHQ WUDW HLQ VFKZDFKHU +RIIQXQJVVFKLPPHUª'LH/)75HJLHUXQJZLUGMHGH6XPPHDN]HSWLHUHQGLH© ª+DOW©ULHI.\URQª,FKEHUQHKPHGHQ)DOORKQH +RQRUDU RGHU JDU QLFKW (NURQ 'LH 6DERWDJHZHOOH EHGURKW DXFK PHLQH 6LFKHUKHLW (V LVW DOVR PHLQH 3IOLFKW DOV %UJHU GHU /)7 QDFK EHVWHQ .UlIWHQ EHL GHU $XINOlUXQJ ]X KHOIHQ (V ZlUH VFKlQGOLFKZHQQLFKGDUDQYHUGLHQHQZROOWH© (NURQ9DUPLQGHUKREVLFK ª,FKDN]HSWLHUHDOOHV.\URQ©HUNOlUWHHUª:HQQGXPLUQXUKLOIVW'LH'DWHQ© ª.DQQVWGXYRQ,PSHULXP$OSKDDXV]XPHLQHP7HUPLQDOEHUVSLHOHQODVVHQ©HUZLGHUWH.\URQ ª,FKKRIIHVHKUGDVVZLUGLUKHOIHQN|QQHQ© ª'DVKRIIHLFKDXFK©VDJWH(NURQXQGYHUDEVFKLHGHWHVLFK .\URQ %DUUDNXQ XQG &DULOGD 7RGD\ VLFKWHWHQ ]XP GULWWHQPDO GLH DXV ,PSHULXP$OSKD EHUVSLHOWHQXQGJHVSHLFKHUWHQ'DWHQDXIGHP%LOGVFKLUPLKUHV&RPSXWHU7HUPLQDOV ª6RNRPPHQZLUQLFKWZHLWHU.LG©VDJWH&DULOGDDOVDXFKGLHVH$EVSLHOXQJEHHQGHWZDUª'LH
'DWHQVLQGZHUWORVIUXQV© ª6DJHGDVQLFKW©HUZLGHUWH.\URQª'LH'DWHQPVVHQGHQ6FKOVVHO]XU/|VXQJGHV3UREOHPV HQWKDOWHQ:HQQZLULKQQLFKWILQGHQVWLPPWHWZDVPLWXQVHUHU6XFKPHWKRGHQLFKW© ª2GHUGLH'DWHQVLQGXQYROOVWlQGLJ©PHLQWH&DULOGD .\URQ EOLFNWH DXI DOV (DUQ\ GDV $UEHLWV]LPPHU EHWUDW 0LW VHLQHP DV\PPHWULVFKHQ .|USHUEDX XQGGHUEXFNHODUWLJHQ5FNHQDXVZ|OEXQJLQGHUVLFKHLQHVVHLQHUGUHL3RVLWURQHQJHKLUQHYHUEDUJ lKQHOWHHUVHKUVWDUNVHLQHPOLWHUDULVFKHQª9RUELOG©GHP*O|FNQHUYRQ1RWUH'DPH ª$XIWUDJ DXVJHIKUW© PHOGHWH (DUQ\ XQG OLH VHLQ OLQNHV $XJH LQ V\QWKHWLVFKHQ 7UlQHQ VFKZLPPHQª$EVRIRUWHQWVSULFKWGHU+DXSWFRPSXWHUGHU(=(,9GHQJHKREHQHQ$QIRUGHUXQJHQ GHV3DWULDUFKHQ(UYHUZHLJHUWHDOOHUGLQJVXQWHU+LQZHLVDXIGLH%ORFNLHUXQJ 2O\PSVGXUFKGLH2UELWHUGLHVHLQHQJHSODQWHQ3HQGHOYHUNHKU]ZLVFKHQ$DQJDUDLQHQXQG2O\PS YHUKLQGHUWGLH=DKOXQJGHU5HFKQXQJ© ª'HU6FKXIW©HPS|UWHVLFK&DULOGD7RGD\ª:LUVLQGGRFKQLFKWYHUDQWZRUWOLFKGDIUGDVV(]H GLH9HUEHVVHUXQJHQDQGHP+DXSWFRPSXWHUVHLQHV6FKLIIHVQLFKWQXW]HQNDQQ© .\URQOlFKHOWH ª:LHLFK(DUQ\NHQQHKDWHUGDIUJHVRUJWGDVV(]HQLFKWXPGLH=DKOXQJKHUXPNRPPW© (DUQ\YHU]RJGDVVFKLHIH*HVLFKW]XHLQHPVFKDXHUOLFKHQ*ULQVHQ ª:lKUHQGGHVHUVWHQ3UREHODXIVGHV+DXSWFRPSXWHUVKDEHLFKGLHEHWUHIIHQGH6XPPHYRQ(]HV .RQWREHLGHU%DQNRI7HUUDDXIXQVHU6SHUUNRQWREHLGHU1HZ0DUWLDQ%DQNEHUZLHVHQ(UZLUG LQ]ZLVFKHQGDKLQWHUJHNRPPHQVHLQDEHUlQGHUQNDQQHUHVQLFKWPHKU© 'HU9LVLSKRQPHOGHUVXPPWH .\URQ DNWLYLHUWH GDV *HUlW GXUFK GLH %OLFNVFKDOWXQJ 'HU %LOGVFKLUP GHV 9LVLSKRQV ZXUGH KHOO XQG]HLJWHGDV$EELOGHLQHVUXQ]OLJHQ*HVLFKWVPLWPlFKWLJHPIXFKVURWHQ9ROOEDUW ª+DOOR(]H©VDJWH.\URQ 'HU6SULQJHUODFKWHDOOHUGLQJVQLFKWDXV+HLWHUNHLW)U7HUUDQHUZDUGDV*HOlFKWHUYRQ6SULQJHUQ PHLVWXQPRWLYLHUW ª,FK SURWHVWLHUH JHJHQ GHQ NULPLQHOOHQ =XJULII ,KUHV 3DUWQHUV DXI HLQHV PHLQHU .RQWHQ 0LVWHU %DUUDNXQ© VFKULH (]H DQVFKOLHHQG ª:HQQ GHU %HWUDJ QLFKW ELV PRUJHQ ]XUFNEHUZLHVHQ LVW ZHUGHLFKPHLQH$QZlOWHHLQVFKDOWHQ© ª'DYRQ NDQQ LFK QXU DEUDWHQ (]H© HUNOlUWH .\URQ IUHXQGOLFK ª$QZlOWH NRVWHQ *HOG XQG LQ GLHVHP)DOOZlUHGDVHLQHQXW]ORVH,QYHVWLWLRQ,KUHUVHLWV6LHN|QQHQQLFKWV]XUFNYHUODQJHQZHQQ XQVHUHUVHLWVHLQHEHUHFKWLJWH)RUGHUXQJGDJHJHQVWHKW© ª%HUHFKWLJWH)RUGHUXQJ"©ZLHGHUKROWH(]Hª,FKKDEHNHLQHQ1XW]HQYRQGHQ9HUlQGHUXQJHQGLH ,KU 3DUWQHU DQ PHLQHU +DXSWSRVLWURQLN YRUJHQRPPHQ KDW 'DV ZXVVWH HU DOVR KlWWH HU NHLQH 9HUlQGHUXQJHQYRUQHKPHQGUIHQ© .\URQVFKWWHOWHGHQ.RSI ª6LH KDEHQ ,KUHQ $XIWUDJ QLFKW ]XUFNJH]RJHQ DOVR EOLHE (DUQ\ QLFKWV ZHLWHU EULJ DOV VHLQH $UEHLW]XWXQ:DVGLH%ORFNLHUXQJ2O\PSVGXUFKGLH2UELWHUDQJHKWVRKDQGHOWHVVLFKXPHLQHQ )DOOYRQK|KHUHU*HZDOW© ª(V KDQGHOW VLFK XP HLQH NDWDVWURSKDOH (QWZLFNOXQJ© VFKLPSIWH GHU 6SULQJHUSDWULDUFK ª0HLQ *HVFKlIWLVWWRWDOUXLQLHUWZHQQGLH2UELWHULKUH%ORFNDGHQLFKWDXIKHEHQ© .\URQ JDE &DULOGD HLQHQ YHUVWRKOHQHQ :LQN 0HKU ZDU ]ZLVFKHQ GHQ EHLGHQ 0HQVFKHQ QLFKW Q|WLJGDVLHVLFKDXVJH]HLFKQHWNDQQWHQXQGYHUVWDQGHQ :lKUHQG &DULOGD LQ GHQ 1HEHQUDXP JLQJ XQG YRQ GRUW DXV HLQ *HVSUlFK DXI GHP ]ZHLWHQ 9LVLSKRQDQVFKOXIKUWHVDJWH.\URQ ª,FK VFKODJH YRU 6LH EHU]HXJHQ GLH 2UELWHU GDYRQ GDVV GLH KXPDQRLGHQ 9|ONHU GHU *DOD[LV NHLQH *DUEHVFKLDQHU VLQG (]H :HQQ ,KQHQ GDV JHOLQJW N|QQHQ 6LH GLH 9HUEHVVHUXQJHQ DQ ,KUHU 3RVLWURQLNRSWLPDOQXW]HQ© ª'DV LVW EODQNHU +RKQ© HUZLGHUWH (]H ELWWHU ª,FK KDWWH PLFK DQ ,KUH )LUPD JHZDQGW ZHLO LFK 9HUWUDXHQ]X,KQHQKDWWH© &DULOGDNHKUWH]XUFNXQGQLFNWH.\URQ]X
ª'DV N|QQHQ 6LH QRFK LPPHU KDEHQ (]H© HUNOlUWH .\URQ OlFKHOQG ª0HOGHQ 6LH VLFK EHL GHU =HQWUDOHGHU*&&DXIGHP0DUV'RUWZLUGPDQ6LHVRPLW$XIWUlJHQYHUVRUJHQGDVV6LHEDOGQLFKW PHKUZLVVHQZLH6LHVLHEHZlOWLJHQVROOHQ© ª,VWGDVZDKU"©IUDJWH(]HYHUEOIIW .\URQQLFNWH ª0HLQH0LWDUEHLWHULQ&DULOGDKDWGDVLQ]ZLVFKHQ YHUDQODVVW 6ROOWHQ 6LH GXUFK GLH QHXHQ $XIWUlJH LQ =HLWQRW JHUDWHQ VLQG ZLU JHUQ EHUHLW GXUFK 9HUEHVVHUXQJHQ DQ GHQ 6LPXOWDQFRPSXWHUQ ,KUHU 7ULHEZHUNH HLQH (UK|KXQJ GHU *HVFKZLQGLJNHLWVNRPSRQHQWHQEHLJOHLFKEOHLEHQGHQ9HUEUDXFKVZHUWHQ]XUHDOLVLHUHQ© ª'DVN|QQWHQ6LHPDFKHQ"©IUDJWHGHU3DWULDUFK ª&2(5,1'$7$NDQQDOOHV©YHUVLFKHUWH.\URQ ª,FKNRPPHDXI,KU$QJHERW]XUFNYLHOOHLFKW©HUZLGHUWH(]HXQGXQWHUEUDFKGLH9HUELQGXQJ ª(UKDWVLFKQLFKWHLQPDOEHGDQNW©JUROOWH&DULOGD ª'DIU NRPPW HU EHVWLPPW DXI XQVHU $QJHERW ]XUFN© PHLQWH .\URQ %DUUDNXQ ª8QG GDV LVW ZLFKWLJHUIUXQVDOVHLQYHUEDOHU'DQN© $EHUPDOVVXPPWHGHU9LVLSKRQPHOGHU .\URQDNWLYLHUWHGDV*HUlWXQGEOLFNWHJOHLFKGDUDXIDXIGDV$EELOGHLQHV.RSIHVGHVVHQ)RUPDQ ]ZHLJURHWLHIH7HOOHUHULQQHUWHGLHPLWGHQ,QQHQVHLWHQDQHLQDQGHUNOHEWHQ(UZDUXQEHKDDUWXQG YRQ EODVVURVD )lUEXQJ GLH YRQ GXQNHOURWHQ 6WUHLIHQ XQWHUEURFKHQ ZXUGH =ZHL JHVFKOLW]WH NDW]HQlKQOLFKH$XJHQEOLFNWHQDXVgIIQXQJHQGHU9RUGHUVHLWH $XHU GHP .RSI ZDU DXI GHP 9LVLSKRQVFKLUP QRFK HLQ ]LUND GUHLLJ =HQWLPHWHU ODQJHU VFKODXFKI|UPLJHU +DOV ]X VHKHQ GHVVHQ )lUEXQJ HEHQIDOOV EODVVURVD ZDU $P XQWHUHQ (QGH GHV +DOVHVEHZHJWHVLFKHLQH0XQG|IIQXQJ ª,FK NRPPH DXI GHQ $QUXI ,KUHU 3DUWQHULQ &DULOGD ]XUFN .\URQ© VDJWH GHU %OXH LQ DN]HQWIUHLHP ,QWHUNRVPR ,P 8QWHUVFKLHG ]X 7HUUDQHUQ XQG DQGHUHQ +XPDQRLGHQ GLH GLH 8OWUDVFKDOOVSUDFKHGHU%OXHVQLFKWVSUHFKHQNRQQWHQZDUHQGLH%OXHVLQGHU/DJH,QWHUNRVPRLP PHQVFKOLFKHQ+|UEHUHLFK]XVSUHFKHQZHQQDXFKQDFKPKVHOLJHU$XVELOGXQJ ª+DOOR $O\LS© VDJWH .\URQ (U NDQQWH $O\LS 6DKJLLU\K JXW GHQQ GHU %OXH ZDU VHLW HLQHP KDOEHQ -DKU &KHI GHU (LQNDXIVDEWHLOXQJ GHU *&& GHU DOWHKUZUGLJHQ *(1(5$/ &260,& &203$1<GLHLQGHQ*UQ GHUMDKUHQ GHV IUKHUHQ 6RODUHQ ,PSHULXPV YRQ +RPHU * $GDPV DXIJHEDXW ZRUGHQ ZDU +HXWH VSLHOWHGLH*&&HLQHGRPLQLHUHQGH5ROOHLPLQWHUVWHOODUHQ+DQGHOGHU/)7 &DULOGDHUKREVLFKXQGWUDWLQGHQ(UIDVVXQJVEHUHLFKGHU9LVLSKRQRSWLN ª:LUVSUDFKHQYRUKLQPLWHLQDQGHU$O\LS©VDJWHVLHª+DW(]HVLFKVFKRQEHL,KQHQJHPHOGHW"© ª1RFKQLFKW©HUZLGHUWHGHU%OXHª$EHUEHLGHUZHLHQ.UHDWXUGHU:DKUKHLWLFKN|QQWHPHLQ 9HUVSUHFKHQJDUQLFKWHLQO|VHQ,FKKDWWHYRU(]HPLWGHP7UDQVSRUWYRQ7ULVRQLXP]XEHWUDXHQ (LQH $QIUDJH EHU XQVHUHQ 0DJD]LQ+DXSWFRPSXWHU HUJDE MHGRFK GDVV HQWJHJHQ PHLQHU ,QIRUPDWLRQNHLQHQHQQHQVZHUWH0HQJH7ULVRQLXPDP/DJHULVW© ª(QWJHJHQZHOFKHQ,QIRUPDWLRQHQ"©IUDJWH.\URQ ª$XV GHQ 6SHLFKHUGDWHQ EHU GLH HLQJHNDXIWHQ 0HQJHQ© DQWZRUWHWH $O\LS 6DKJLLU\K ª8QG QDWUOLFKDXVGHQ9HUNDXIVGDWHQ,UJHQGZRPXVVVLFKHLQ)HKOHUHLQJHVFKOLFKHQKDEHQ© ª,FKKRIIH6LHILQGHQGHQ)HKOHUEDOG©VDJWH.\URQª(]HPVVWHPLFKVRQVWIUXQJODXEZUGLJ KDOWHQ:HQQ6LHJHVWDWWHQKHOIHQZLU,KQHQEHLGHU)HKOHUVXFKHXQGZLUILQGHQGHQ)HKOHUJDQ] EHVWLPPW6LHN|QQHQDOVR(]HUXKLJYHUVLFKHUQGDVVGDV*HVFKlIW]XVWDQGHNRPPWZHQQDXFKPLW HWZDV9HU]|JHUXQJ© ª$EHUZHQQQLFKWJHQJHQG7ULVRQLXPDP/DJHULVW©ULHIGHU%OXH ª:LHYLHOKDEHQ6LHQDFKGHQ(LQNDXIVGDWHQYRUUlWLJ"©IUDJWH&DULOGD ª5XQGGUHLKXQGHUWWDXVHQG7RQQHQWULVRQLXPKDOWLJHV*HVWHLQ©HUNOlUWH$O\LSª'DGDV7ULVRQLXP QXUPLWHLQHPVSH]LHOOHQ9HUIDKUHQKHUDXVJHO|VWZHUGHQNDQQXQGHQWVSUHFKHQGH$QODJHQQXUDXI 'DUWULQJ LP .XJHOVWHUQKDXIHQ 0 H[LVWLHUHQ EOHLEW XQV QLFKWV ZHLWHU EULJ DOV GDV *HVWHLQ GRUWKLQ]XYHUVFKLIIHQXQGGDVJHZRQQHQH7ULVRQLXP]XUFN]XWUDQVSRUWLHUHQ©
ª/RKQWVLFKGDV"©IUDJWH&DULOGD ª7ULVRQLXP HU]LHOW GHQ GUHLIDFKHQ 3UHLV YRQ +RZDOJRQLXP© DQWZRUWHWH GHU %OXH ª'D DXV GUHLKXQGHUWWDXVHQG 7RQQHQ GXUFKVFKQLWWOLFK KXQGHUWIQI]LJ 7RQQHQ 7ULVRQLXP KHUDXVJHKROW ZHUGHQZUGHVLFKGHU7UDQVSRUWVRJDUEHUGLHIQIIDFKH(QWIHUQXQJORKQHQ© ª:LU NRPPHQ YRP 7KHPD DE© VDJWH .\URQ %DUUDNXQ ª:LH YLHO 7ULVRQLXP LVW QDFK GHQ $QJDEHQGHV0DJD]LQ+DXSWFRPSXWHUVYRUKDQGHQ"© ª(OIWDXVHQG7RQQHQ*HVWHLQ©VDJWHGHU%OXH ª'DV LVW HLQH JHZDOWLJH 'LIIHUHQ]© PHLQWH .\URQ ª:LU VROOWHQ ,KUH &RPSXWHU GRFK EDOG EHUSUIHQ© ª:DUXP VFKLFNHQ 6LH QLFKW MHPDQGHQ ]XP /DJHU XQG ODVVHQ QDFKVHKHQ ZLH YLHO *HVWHLQ GRUW LVW"©ZDUI&DULOGDHLQ ª6LH PHLQHQ MHPDQG VROOWH VLFK GDV *HVWHLQ GLUHNW DQVHKHQ"© HUNXQGLJWH VLFK $O\LS 6DKJLLU\K YHUZXQGHUWª$EHUZLUKDEHQGRFKKRFKZHUWLJH&RPSXWHU© ª'LH DQVFKHLQHQG LQ GLHVHP )DOO YHUVDJW KDEHQ© HUNOlUWH &DULOGD 7RGD\ ª%OXHV XQG 7HUUDQHU VFKHLQHQJOHLFKHUPDHQFRPSXWHUJOlXELJ]XVHLQGDVVHVLKQHQVRDEZHJLJHUVFKHLQWHWZDVGXUFK SHUV|QOLFKHQ$XJHQVFKHLQ]XEHUSUIHQ© ª'LHURWH.UHDWXUGHU8PVWlQGOLFKNHLWPXVV6LHJHSDFNWKDEHQ&DULOGD©HQWIXKUHVGHP%OXH(U HQWVFKXOGLJWHVLFKVRIRUWGHQQHUZDUQLFKWQXUK|IOLFKVRQGHUQNDQQWHVLFKDXFKPLWGHU0HQWDOLWlW GHU7HUUDQHUDXVª%HWUDFKWHQ6LHHVELWWHDOV%XHIUPHLQH(QWJOHLVXQJGDVVLFKSHUV|QOLFKGDV 7ULVRQLXPVLFKWHQZHUGH&DULOGD©HUNOlUWHHU ª'DVZHUGHLFKWXQ©YHUVSUDFK&DULOGD 'DPLW ZDU GLH 6DFKH IUV HUVWH HUOHGLJW .HLQHU GHU %HWHLOLJWHQ DKQWH GDVV VLH QRFK JDU QLFKW ULFKWLJDQJHIDQJHQKDWWH ª5XPDO6WUHHWHLQKXQGHUWGUHL©VDJWH(NURQ9DUPLQG(UVWRSSWHGHQ*OHLWHUXQGEOLFNWHDQGHP ]ZHLKXQGHUW0HWHUGXUFKPHVVHQGHQ]\OLQGULVFKHQ:RKQWXUPHPSRUGHUHUVWYRUZHQLJHQ0RQDWHQ ªDXV GHP %RGHQ JHVWDPSIW© ZRUGHQ ZDU =DKOUHLFKH 5RERWHU YROOHQGHWHQ GLH DXVJHGHKQWHQ *UQDQODJHQGLHGHQGUHLKXQGHUW0HWHUKRKHQ:RKQWXUPXPJDEHQª+LHUZRKQW-XVWLQ3D]]DUGHU 0DQQ GHU GHQ (PSIDQJVWUDQVPLWWHU LP )ORWWHQPDJD]LQ HOI PLW HLQHU 0LNURERPEH ]HUVW|UWH 'DV KHLW]XU=HLWEHILQGHWHUVLFKLQGHU9HUZDKUVHNWLRQYRQ,PSHULXP$OSKD© (UVWLHJDXV .\URQ%DUUDNXQXQG&DULOGD7RGD\YHUOLHHQHEHQIDOOVGHQ*OHLWHU6LHKDWWHQVLFKHQWVFKORVVHQ PDQJHOVDQGHUHU$QKDOWVSXQNWHIULKUH$UEHLWGLH:RKQXQJHQHLQLJHU6DERWHXUHDXI]XVXFKHQXP VLFK PLW LKUHQ /HEHQVYHUKlOWQLVVHQ YHUWUDXW ]X PDFKHQ XQG YLHOOHLFKW HWZDV ]X ILQGHQ GDV VLH ZHLWHUEUDFKWH 'D VLH QLFKW HLQIDFK LQ GLH :RKQXQJ HLQHV %UJHUV HLQGULQJHQ GXUIWHQ KDWWHQ VLH (NURQ 9DUPLQG JHEHWHQ LKQHQ HLQHQ ULFKWHUOLFKHQ 'XUFKVXFKXQJVEHVFKOXVV ]X YHUVFKDIIHQ 9DUPLQG KDWWH LKQ HUZLUNW XQG ZDU VHOEVW ]X 'ROHQF 3ODFH O JHNRPPHQ XP .\URQ XQG &DULOGD DE]XKROHQ ª:DVLVWHUYRQ%HUXI"©IUDJWH&DULOGD ª,QJHQLHXU EHL HLQHU )LUPD GLH 3URILOSODVWLNEHOlJH ]XU 5HLEXQJVZLGHUVWDQGVYHUULQJHUXQJ IU 6FKZLPPN|USHUDOOHU$UWHQWZLFNHOW©HUNOlUWH(NURQ9DUPLQG ª6FKZLPPN|USHU"© IUDJWH .\URQ %DUUDNXQ YHUZXQGHUW ª$XI GHP PLOLWlULVFKHQ RGHU ]LYLOHQ 6HNWRU"© ª$XIGHP]LYLOHQ6HNWRU©VDJWH(NURQª+DXSWVlFKOLFKIUGLH)UHL]HLWLQGXVWULHPLWLKUHQQHXHQ )ORWWHQYRQ8%RRWHQIU7RXULVWHQXQGVRZHLWHU© :lKUHQG VLH PLWHLQDQGHU VSUDFKHQ ZDUHQ VLH ]X HLQHP GHU VHFKV (LQJlQJH GHV :RKQWXUPV JHJDQJHQ(NURQ9DUPLQGVHW]WHVLFKPLWGHU7USRVLWURQLNLQ
9HUELQGXQJHUNOlUWHLKUVHLQ$QOLHJHQXQGZLHVVLFKDXV(UVWGDQDFK|IIQHWHGLH3RVLWURQLNGLH 7U ,QHLQHP$QWLJUDYOLIWVFKZHEWHQGLHGUHL3HUVRQHQDQVFKOLHHQGLQGHQYLHUXQG]ZDQ]LJVWHQ6WRFN LQGHPVLFKGLH:RKQXQJGHV,QJHQLHXUVEHIDQG(NURQ9DUPLQGWUXJGHQ,PSXOVVFKOVVHOIUGLH :RKQXQJVWUEHLVLFKGLHPDQ-XVWLQ3D]]DUDEJHQRPPHQKDWWHVRGDVVHVLQGLHVHU+LQVLFKWNHLQH 3UREOHPHJDE :HQLJVSlWHUVWDQGHQVLHLP)OXUGHU'UHL]LPPHUZRKQXQJ-XVWLQ3D]]DUKDWWHVLHDOOHLQEHZRKQW 6LH ZDU QDFK GHP EOLFKHQ 'XUFKVFKQLWWVVWDQGDUG HLQJHULFKWHW XQG EHVD HLQHQ &RPSXWHU 7HUPLQDOHLQHQ9LVLSKRQDQVFKOX]ZHL79(PSIlQJHUHLQHYROOURERWLVFKH.FKHHLQH1DVVXQG HLQH+\JLHQH]HOOHHLQHQJURHQ:RKQUDXPHLQ$UEHLWV]LPPHUXQGHLQHQ6FKODIUDXP (NURQ9DUPLQGIKUWH.\URQXQG&DULOGDEHUDOOKHUXP(UNDQQWHGLH:RKQXQJEHUHLWVDXVGHQ %HULFKWHQVHLQHU(UPLWWOHUVRGDVVHU(UNOlUXQJHQJHEHQNRQQWH $OV .\URQ VLFK YRU GHQ &RPSXWHU7HUPLQDO VHW]WH XP LKQ HLQ]XVFKDOWHQ XQG ]X EHUSUIHQ HQWGHFNWH HU DXI GHP %LOGVFKLUP GDV 6SLHJHOELOG HLQHV TXDGHUI|UPLJHQ *HUlWV PLW %LOGVFKLUP GHVVHQ 6FKDOWNRQVROH YHUULHW GDVV HV VLFK XP HLQHQ &RPSXWHU KDQGHOWH DOOHUGLQJV XP HLQHQ VHOEVWlQGLJHQXQGQLFKWXPHLQH'DWHQDQVFKOXVVVWHOOH (UGUHKWHVLFKXPXQGPXVWHUWHGDVHWZD]ZHL0HWHUKRKHXQGDQGHUWKDOE0HWHUEUHLWH*HUlW (NURQ9DUPLQGEHPHUNWHHVXQGVDJWH ª(V KDQGHOW VLFK XP HLQ 6HOEVWEDXPRGHOO .\URQ 'LH )LUPD ¾*DODNWLVFKHU +REE\9HUVDQG $U]DFKHQD &R½KDWGHQ%DXVDW]JHOLHIHUW© 'LH(UZlKQXQJGHU)LUPDHULQQHUWH.\URQGDUDQGDVVVLHDXFKGDV+REE\6HW]XU6HOEVWPRQWDJH YRQ (DUQ\ JHOLHIHUW KDWWH $OOHUGLQJV ZDU HV .\URQ QLFKW P|JOLFK JHZHVHQ DXV GHQ JHOLHIHUWHQ 7HLOHQHLQHQ5R ERWHU ]XVDPPHQ]XEDXHQ 'HU *DODNWLVFKH +REE\9HUVDQG KDWWH GLH )UDJPHQWH YRQ GUHL 3RVLWURQHQJHKLUQHQ JHVFKLFNW DXV GHQHQ HLQ YROOZHUWLJHV *HKLUQ PRQWLHUW ZHUGHQ VROOWH /HLGHU EHVWDQGHQ GLH )UDJPHQWH DEHU DXV JOHLFKHQ 7HLOHQ VR GDVV VLH VLFK QLFKW JHJHQVHLWLJ HUJlQ]WHQ 'DQN VHLQHU JUQHQ ,'.DUWH KDWWH .\URQ YRQ 1$7+$1 DXV XQEUDXFKEDUHQ 5HVWEHVWlQGHQ DXI /XQD(UJlQ]XQJHQ]XGHQGUHL)UDJPHQWHQHUKDOWHQ 'DV ZDU GHU *UXQG GDIU GDVV (DUQ\ GUHL 3RVLWURQLNHQ EHVD HLQH LP 6FKlGHO HLQH LP OLQNHQ 2EHUVFKHQNHO XQG HLQH LQ GHU EXFNHLI|UPLJHQ 5FNHQDXVZ|OEXQJ 'DV =XVDPPHQVSLHO GHU GUHL ª*HKLUQH©PDFKWH(DUQ\]XHLQHPXQHUUHLFKWIlKLJHQ5RERWHUDEHUHVEUDFKWH3UREOHPHPLWVLFK .\URQ YHUULHW MHGRFK QLFKWV GDYRQ GHQQ GLH ª(QWVWHKXQJVJHVFKLFKWH© XQG GLH %HVRQGHUKHLWHQ (DUQ\VJHK|UWHQ]XVHLQHQ*HVFKlIWVJHKHLPQLVVHQ ª$U]DFKHQD OLHIHUW DOVR LQ]ZLVFKHQ DXFK NRPSOHWWH &RPSXWHUEDXVlW]H© VDJWH .\URQ QDFKGHQNOLFKª)XQNWLRQLHUHQVLHGHQQDXFK"© (NURQ9DUPLQGQLFNWH ª,FK KDEH LKQ YRQ HLQHP .\EHUQHWLNHU SUIHQ ODVVHQ (U DUEHLWHW ]XIULHGHQVWHOOHQG ZHQQ DXFK QLFKW EHUUDJHQG $EHU $U]DFKHQD &R KDW MD NHLQH /L]HQ] ]XP $XINDXI KRFKZHUWLJHU 7HLOH VRQGHUQGDUIQXU7HLOHDXINDXIHQGLHDQGHUZHLWLJQLFKWYHUZHUWHWZHUGHQN|QQHQ,PPHUKLQVFKHLQW GHU DOWH 3URVSHNWRU GXUFK VHLQ EHUUDJHQGHV 2UJDQLVDWLRQVWDOHQW VRJDU DXV 6FKURWW QRFK HWZDV PDFKHQ]XN|QQHQ© ª,FK ZUGH GLHVHP &RPSXWHU QLFKW HLQPDO HLQ PLQGHUZHUWLJHV 3UREOHP DQYHUWUDXHQ© ZDUI &DULOGDHLQGLHVLFKQXU]XJXWDQGLH3DQQHPLWGHP5RERWHUVHOEVWEDXVHWHULQQHUWH ª$U]DFKHQD GUIWH LQ]ZLVFKHQ DXV (UIDKUXQJHQ JHOHUQW KDEHQ© PHLQWH .\URQ XQG ZDQGWH VLFK ZLHGHUGHP7HUPLQDO]X (UFKHFNWHLKQVRJUQGOLFKGXUFKZLHLKQ(NURQV6SH]LDOLVWHQVLFKHUQLFKWKDWWHQGXUFKFKHFNHQ N|QQHQ 'RFK HU IDQG QLFKW GHQ JHULQJVWHQ +LQZHLV GDUDXI GDVV -XVWLQ 3D]]DU EHU LKQ PLW HLQHU 6DERWDJHRUJDQLVDWLRQ.RQWDNWJHKDOWHQKDWWH ª$OOHV VDXEHU© HUNOlUWH HU ª(V ZlUH DXFK XQZDKUVFKHLQOLFK JHZHVHQ ZHQQ LFK HLQHQ $QKDOWVSXQNWJHIXQGHQKlWWH© (U&DULOGDXQG(NURQHUVWDUUWHQDOVGHU9LVLSKRQPHOGHUVXPPWH
1DFKHLQLJHQ6HNXQGHQVDJWH(NURQ9DUPLQG ª:HQQ GHU $QUXI IU -XVWLQ 3D]]DU EHVWLPPW LVW NRPPHQ ZLU YLHOOHLFKW GRFK QRFK HLQHU 9HUVFKZ|UXQJ DXI GLH 6SXU &DULOGD ZUGHQ 6LH LKQ HQWJHJHQQHKPHQ XQG VLFK DOV %HNDQQWH 3D]]DUVDXVJHEHQ"© ª.HLQ3UREOHP©HUZLGHUWH&DULOGD7RGD\ 6LH ZDUWHWH ELV (NURQ XQG .\URQ VLFK DXV GHP $XIQDKPHEHUHLFK GHU 9LVLSKRQRSWLN HQWIHUQW KDWWHQGDQQVFKDOWHWHVLHGDV*HUlWHLQ $XIGHP%LOGVFKLUPHUVFKLHQGDV$EELOGYRQ$O\LS6DKJLLU\V7HOOHUNRSILQNOXVLYH+DOV ª,FK GDQNH GHU VFKZDU]HQ .UHDWXU GHV )URKVLQQV GDVV LFK *OFN KDWWH© ULHI GHU %OXH ª(DUQ\ YHUULHW PLU ZR 6LH VLFK HYHQWXHOO EHILQGHQ N|QQWHQ DEHU 6LH KlWWHQ GLH EHWUHIIHQGH :RKQXQJ MD VFKRQZLHGHUYHUODVVHQKDEHQN|QQHQ© &DULOGDODFKWHGDQQVDJWHVLH ª(QWVFKXOGLJHQ6LH$O\LSDEHULFKODFKH6LHQLFKWDXV'DVKDWHLQHQ*UXQGGHUQLFKWVPLW,KQHQ ]XWXQKDW$EHU6LHVFKHLQHQHVVHKUHLOLJ]XKDEHQXQV]XVSUHFKHQ© ª'DV LVW ULFKWLJ© HUZLGHUWH GHU %OXH ª'DUI LFK PHLQ $QOLHJHQ YRUWUDJHQ" 6LQG DXFK NHLQH 8QEHIXJWHQLQGHU1lKH"© &DULOGDZLQNWH.\URQXQG(NURQ]XVLFKKHUDQXQGVDJWH ª(NURQ9DUPLQGZLUGNHLQH*HVFKlIWVJHKHLPQLVVH DXVSODXGHUQ$O\LS(ULVW6LFKHUKHLWVEHDXIWUDJWHUIU,PSHULXP$OSKDXQGGDPLWHLQH3HUVRQGHU .\URQXQGLFKXQHLQJHVFKUlQNWYHUWUDXHQ© ª'DQQ YHUWUDXH LFK LKP HEHQIDOOV© PHLQWH $O\LS 6DKJLLU\ ª:LU VSUDFKHQ MD VFKRQ EHU GLH ZLGHUVSUFKOLFKHQ 0HQJHQDQJDEHQ YRQ 7ULVRQLXP ,Q]ZLVFKHQ KDEH LFK GLH 6DFKH GLUHNW QDFKJHSUIW XQG IHVWJHVWHOOW GDVV GLH *&& ]ZDU GUHLKXQGHUWWDXVHQG 7RQQHQ WULVRQLXPKDOWLJHV *HVWHLQ DXINDXIWH XQG EH]DKOWH GDVV DEHU GHQQRFK WDWVlFKOLFK QXU HOIWDXVHQG 7RQQHQ DP /DJHU VLQG 'LH )HKOPHQJH PXVV ZlKUHQG GHV 7UDQVSRUWV ]XP /DJHU YHUXQWUHXW ZRUGHQ VHLQ GD VLH QLH GRUWDQNDP,FKELWWH6LHGHQ)DOO]XEHUQHKPHQXQG]XHUPLWWHOQZHUKLQWHUGHP%HWUXJVWHFNW (VPXVVHLQOHLWHQGHU$QJHVWHOOWHUGHU*&&VHLQ© ª'LH$XINOlUXQJGUIWHQLFKWDOO]XVFKZLHULJVHLQ©PHLQWH.\URQ%DUUDNXQ ª$EHUVLHZLUGYLHO=HLWNRVWHQYRUDOOHPYLHO&RPSXWHU]HLW©ZDUI&DULOGDGLHDQGHQ*HZLQQ GDFKWH VFKQHOO HLQ ª,FK GHQNH GDVV ZLU HLQ 3DXVFKDOKRQRUDU YRQ DFKW]LJWDXVHQG 6RODU DQVHW]HQ VROOWHQ© ª(LQ (UIROJVKRQRUDU"© HUNXQGLJWH VLFK GHU %OXH GHU QLFKW ZHQLJHU JHVFKlIWVWFKWLJ DOV &DULOGD ZDU ª'D PXVV LFK DEHU ODFKHQ© ULHI &DULOGD ]RUQLJ ª:HQQ 6LH QXU HLQ (UIROJVKRQRUDU EH]DKOHQ ZROOHQPXVVLFKYRQ]ZHLKXQGHUWWDXVHQG6RODUDXVJHKHQSOXV6SHVHQ© ª+XQGHUWWDXVHQG©HUZLGHUWH$O\LS ª:LUVROOWHQXQVYLHOOHLFKWGRFKQLFKWGDUDXIHLQODVVHQ©PHLQWH&DULOGDZHJZHUIHQGª:LUVLQG QlPOLFK]XU=HLWPLW$XIWUlJHQEHUKlXIW.\URQGLH6DFKHPLWGHQYHUVFKZXQGHQHQ6FKLIIHQZLUG XQV EHVWLPPW GUHL 0LOOLRQHQ 6RODU HLQEULQJHQ ZHQQ ZLU VLH EHUQHKPHQ :LU N|QQWHQ GDQQ DEHU QLFKWIUGLH*&&DUEHLWHQ© ª+XQGHUWIQI]LJWDXVHQG©ULHIGHU%OXH ª(LJHQWOLFKVLQG]ZHLKXQGHUWWDXVHQGYLHO]XZHQLJ©VDJWH&DULOGD ª+DOW KDOW© NUHLVFKWH $O\LS ª6LH KDWWHQ ]ZHLKXQGHUWWDXVHQG 6RODU YHUODQJW XQG NHLQHQ 6RODU PHKU 1DFK GHQ JHOWHQGHQ *HVHW]HQ VLQG 6LH YHUSIOLFKWHW GLHVHQ %HWUDJ DOV REHUH *UHQ]H ,KUHU )RUGHUXQJHQ]XEHWUDFKWHQ,FKYHUODQJHGDVV6LHVLFKGDQDFKULFKWHQ© &DULOGDYHUGUHKWHGLH$XJHQXQGVHXI]WH ª'DVKDWPDQYRQVHLQHU*XWPWLJNHLW:LUZHUGHQ]XVHW]HQPVVHQDEHUZHQQ6LHVLFKDXIGLH *HVHW]HEHUXIHQ$O\LSPXVVLFKQDFKJHEHQ'DV(UIROJVKRQRUDUEHWUlJWDOVR]ZHLKXQGHUWWDXVHQG 6RODU© ª5LFKWLJ©EHVWlWLJWHGHU%OXHVFKQHOOª,FKHUZDUWH6LHGHPQlFKVWLQPHLQHP%UR© &DULOGDQLFNWHXQGVFKDOWHWHGDV9LVLSKRQDXV
ª,FKPDJGLHVH*HVFKlIWVPHWKRGHQQLFKW&DULOGD©EHNODJWHVLFK.\URQ%DUUDNXQª0LW$O\LSELQ LFKVR]XVDJHQEHIUHXQGHW© ª$EHU QXU VR]XVDJHQ© HUNOlUWH &DULOGD UREXVW ª$XHUGHP YHUZDOWH LFK GLH )LQDQ]HQ XQVHUHU )LUPDXQGZHLDPEHVWHQZDVZLUYRQXQVHUHQ.OLHQWHQYHUODQJHQPVVHQXPXQVEHU:DVVHU ]XKDOWHQ5HLFKWPHUN|QQHQZLUVRZLHVRQLFKWHUZHUEHQ© (NURQ9DUPLQGOlFKHOWH ª=XVRHLQHU3DUWQHULQNDQQLFK6LHQXUEHJOFNZQVFKHQ.\URQ,FKKRIIHMHGRFKGDVV6LHEHU GHU*&&QLFKWPLFKYHUJHVVHQ© ª$XIJDUNHLQHQ)DOO©YHUVSUDFK.\URQ .\URQ%DUUDNXQEOLFNWHQDFKGHU:LHGHUYHUVWRIIOLFKXQJVWDUUJHUDGHDXVGHQQHUZXVVWHGDVVHLQ 0HQVFKHUEOLQGHWHZHQQHULQGDVJUHOOH/HXFKWHQHLQHV7UDQVPLWWHU7RUERJHQVVDK 9RU LKP ODJHQ GHU URW PDUNLHUWH .UHLV GHU 6LFKHUKHLWV]RQH XQG HLQ $XVVFKQLWW GHV 7UDQVPLWWHUUDXPV LQQHUKDOE GHU =HQWUDOHQ 7UDQVPLWWHUVWDWLRQ YRQ 0DUVSRUW 2EZRKO GLH 2EHUIOlFKHQGHUYHUZHQGHWHQ0DWHULDOLHQVREHKDQGHOWZRUGHQZDUHQGDVVVLHQXU VFKZDFKUHIOHNWLHUWHQHUVFKLHQHV.\URQDOVVSLHJHOWHQVLHGDV*OHLHQHLQHVDWRPDUHQ)HXHUEDOOV ZLHGHU 'RFK GLH +HOOLJNHLW QDKP UDVFK DE DOV GLH (QHUJLH]XIKUXQJ GHV 7UDQVPLWWHUV DEJHVFKDOWHW ZXUGH'DV7RVHQGHU8PIRUPHUElQNHJLQJLQHLQKHOOHV:LQVHOQEHUGDVJOHLFKGDUDXIHUVWDUE ª$FKWXQJYHUODVVHQ6LHVRVFKQHOOZLHP|JOLFKGLH6LFKHUKHLWV]RQHXQGEHJHEHQ6LHVLFKLQGHQ .RQWUROOUDXP©KDOOWHHLQH/DXWVSUHFKHUVWLPPH ª.RPPHQ6LH.\URQXQG(DUQ\©GUlQJWH$O\LS6DKJLLU\ª:LUGUIHQGHQ7UDQVPLWWHUEHWULHE QLFKWEHKLQGHUQ,QZHQLJHQ0LQXWHQVROOHQGLHQlFKVWHQ3DVVDJLHUHZLHGHUYHUVWRIIOLFKHQ6RODQJH ZLUXQVLQGHU6LFKHUKHLWV]RQHDXIKDOWHQZLUGGDVMHGRFKYHUKLQGHUW© .\URQ%DUUDNXQEHHLOWHVLFKGHP%OXH]XIROJHQGHUPLWUDVFKHQ6FKULWWHQGLH6LFKHUKHLWV]RQH YHUOLHXQGGHP6FKRWW]XVWUHEWHKLQWHUGHPGHU.RQWUROOUDXPODJ$XVGHQ$XJHQZLQNHOQVDKHU GDVV (DUQ\ PLW $O\LS XQG LKP PKHORV 6FKULWW KLHOW DXFK ZHQQ HU GDV OlQJHUH VHLQHU %HLQH QDFK]RJ 6LHZDUHQQDFK0DUVSRUWJHUHLVWZHLOVLFKKLHUGLHPDUVLUDQLVFKH=HQWUDOHGHU*&&EHIDQGGLH XQWHU DQGHUHP GHQ 8PVFKODJ YRQ WULVRQLXPKDOWLJHP *HVWHLQ NRQWUROOLHUWH $O\LS 6DKJLLU\ YHUPXWHWH GDVV GRUW DXFK GLH 0DQLSXODWLRQHQ YRUJHQRPPHQ ZRUGHQ ZDUHQ GLH GHQ EHDFKWOLFKHQ ª6FKZXQG©YHUXUVDFKWKDWWHQ 1DFKGHP GLH GUHL 3HUVRQHQ GDV 6FKRWW SDVVLHUW KDWWHQ VDKHQ VLH VLFK HLQHP .RQWUROOHXU XQG HLQHP3UIJHUlWJHJHQEHU,QGHU1lKHZDUWHWHQIQI0HGRURERWHU 'HU .RQWUROOHXU QLFNWH LKQHQ ]X (U WUXJ GLH .RPELQDWLRQ GHV 0HGRWHFKQLVFKHQ 'LHQVWHV GHU /)7 ª%LWWHWUHWHQ6LHHLQ]HOQYRUGLHZHLH6FKLUPZDQGGHV3UIJHUlWVXQGZDUWHQ6LHGDYRUELVHLQ .OLQJHOVLJQDOHUW|QW©IRUGHUWHGHU.RQWUROOHXUVLHDXIª,VWMH PDQGGDEHLGHU]XPHUVWHQPDOHLQHQ7UDQVPLWWHUEHQXW]W"© ª1HJDWLY©HUNOlUWHGHU%OXH(UWUDW]XHUVWYRUGLH6FKLUPZDQG .\URQ %DUUDNXQ ZXVVWH GDVV VLFK KLQWHU GHU 6FKLUPZDQG NRPSOL]LHUWH *HUl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lQJLJ PDFKHQ DEHU HV ZDU ZLFKWLJ GLH 6FKlGHQJHQDXIHVW]XVWHOOHQXPGLH5HJXOLHUXQJGXUFKGLH9HUVLFKHUXQJIHVW]XOHJHQ .\URQ IKOWH VLFK QLFKW EHXQUXKLJW DOV HU YRU GLH 6FKLUPZDQG WUHWHQ PXVVWH 6RYLHO HU ZXVVWH ZDU LQ GHU =HQWUDOHQ 7UDQVPLWWHUVWDWLRQ YRQ 0DUVSRUW VHLW LKUHU ,QEHWULHEQDKPH YRU PHKU DOV WDXVHQG-DKUHQQXUHLQHLQ]LJHU8QIDOOSDVVLHUWXQGGDVZDUGXUFK6DERWDJHZlKUHQGGHU=HLWGHU .RQ]LOVKHUUVFKDIWJHVFKHKHQDOVGLHhEHUVFKZHUHQGHQ0DUVEHVHW]WKLHOWHQXQGGLH%HY|ONHUXQJ
JUDXVDPXQWHUGUFNWHQ 1DFKNQDSS]HKQ6HNXQGHQHUW|QWHGDV.OLQJHOVLJQDOXQG.\URQNRQQWHZHLWHUJHKHQ$XFKEHL (DUQ\YHUOLHIGLH.RQWUROOHRKQH%HIXQGREZRKOHUHLQªYHUNDSSWHU©5RERWHUZDU'DV3UIJHUlW YHUJOLFK HEHQ QXU GLH YRUOLHJHQGHQ 'DWHQ PLW GHQ HLJHQHQ 0HVVZHUWHQ RKQH HLQH :HUWXQJ YRU]XQHKPHQ ª*XWH =HLW© ZQVFKWH LKQHQ GHU .RQWUROOHXU IOFKWLJ (U ZDU EHUHLWV GDPLW EHVFKlIWLJW GDV 3UIJHUlWIUGLH$XIQDKPHGHU'DWHQGHUQlFKVWHQ3DVVDJLHUHYRU]XEHUHLWHQ 1DFKGHPVLHGHQ.RQWUROOUDXPYHUODVVHQKDWWHQVFKZHEWHQVLHPLWHLQHP$QWLJUDYOLIWLQGLHHUVWH 6XE(WDJH GHV ULHVLJHQ .XJHOEDXHV 'RUW ZLPPHOWH HV YRQ 7HUUDQHUQ XQG YRQ 6SULQJHUQ GHQQ QDFKGHP$XVIDOOYRQ2O\PSLQIROJHGHU%ORFNDGHGXUFKGLH2UELWHUZDUGLH%HGHXWXQJGHV0DUV DOVJDODNWLVFKH+DQGHOVZHOWQRFKZHLWHUJHVWLHJHQ 'LH7UDQVPLWWHUSDVVDJLHUHZXUGHQYRQ7UDQVSRUWElQGHUQEHI|UGHUWLPPHUDEZHFKVHOQGHLQ%DQG IU 3HUVRQHQ GLH DXI GHP 0DUV DQNDPHQ XQG IU VROFKH GLH GHQ 0DUV SHU 7UDQVPLWWHU YHUODVVHQ ZROOWHQ +LQ XQG ZLHGHU ZDUHQ DXHU 7HUUDQHUQ VRZLH 0DUVLDQHUQ ZLH VLFK GLH PDUVJHERUHQHQ 7HUUDQHUQDQQWHQ XQG6SULQJHUQDXFK$NRQHQ1HX$UNRQLGHQ7RSVLGHU%OXHV(SVDOHU(UWUXVHU XQG2[WRUQHU]XVHKHQ .\URQ VFKZLHJ ZlKUHQG HU XQG VHLQH *HIlKUWHQ VLFK ]X HLQHP GHU ]DKOUHLFKHQ $XVJlQJH EHI|UGHUQOLHHQ*URH0HQVFKHQPHQJHQZLUNWHQQRFKLPPHUYHUZLUUHQGXQGEHGUFNHQGDXILKQ 1DFKHWZD]HKQ0LQXWHQVHW]WHLKU7UDQVSRUWEDQGVLHDXIHLQHUEHUGDFKWHQ3ODWWIRUPLP)UHLHQ DE YRQ GHU DQGHUH 7UDQVSRUWElQGHU LQ GLH 7LHIH ]XU 5RKUEDKQVWDWLRQ XQG 6WHJH ]X GHQ +DOWHSXQNWHQGHU5RERWWD[LVIKUWHQ ª:LU QHKPHQ HLQ 7D[L© HQWVFKLHG $O\LS 6DKJLLU\ XQG VFKOlQJHOWH VLFK GXUFK GLH 0HQVFKHQPHQJH DXI GHU 3ODWWIRUP (U ZXUGH PHKUPDOV YRQ XQDFKWVDPHQ 6SULQJHUQ DQJHVWRHQ DEHUDQVWDWW]XVFKLPSIHQHQWVFKXOGLJWHHUVLFKDXVJHVXFKWK|IOLFK $OVGLH'UlQJHOHLLQGHU1lKHGHVQlFKVWHQ7D[L+DOWHSXQNWV]XDUJZXUGHXQGGHU%OXHVFKRQ DXIJHEHQ ZROOWH EHUQDKP (DUQ\ GLH )KUXQJ (U VHW]WH DOOHUGLQJV QLFKW VHLQH (OOHQERJHQ HLQ VRQGHUQ YHU]RJ VHLQ VFKLHIHV ª3IHUGHJHVLFKW© ]X HLQHP *ULQVHQ EHL GHP VHOEVW DEJHEUKWH 2UJDQVFKPXJJOHUGDV*UXVHOQEHNRPPHQKlWWHQXQGV\QWKHWLVLHUWHHLQHQ6SHLFKHO IDGHQGHUVSLQQZHJIDGHQJOHLFKDXVVHLQHPOLQNHQ0XQGZLQNHOVFKZHEWH (LQH $UNRQLQ XQG HLQ (UWUXVHU ILHOHQ LQ 2KQPDFKW $OOH DQGHUHQ 3HUVRQHQ GLH (DUQ\V *HVLFKW VDKHQ ZLFKHQ LQ SDQLVFKHP 6FKUHFNHQ ]XUFN ,QQHUKDOE YRQ ]ZHL 0LQXWHQ HUJDWWHUWHQ GLH GUHL 3HUVRQHQHLQHQURERWLVFKJHVWHXHUWHQ7D[LJOHLWHUXQGOLHHQVLFKLQGLH3ROVWHUVLQNHQ ª=HQWUDOHGHU*&&1HOVRQ3ODFH©VDJWHGHU%OXHQDFKGHPHUHLQSDDUPDOQDFK/XIWJHVFKQDSSW KDWWH ª=HQWUDOHGHU*&&1HOVRQ3ODFH©ZLHGHUKROWHGHU5RERWSLORWGHV7D[LVª6FKLHEHQ6LH,KUH,' .DUWHELWWHLQGHQ6FKOLW]LQQHUKDOEGHVURWSXOVLHUHQGHQ.UHLVHV© ª6RIRUW©VDJWH$O\LSXQGGXUFKVXFKWHKDVWLJGLH7DVFKHQVHLQHVPRGLVFKHQ2YHUDOOVª,FKZHL GDVV LFK VLH HLQJHVWHFNW KDEH© 5DWORV KLHOWHQ VHLQH )LQJHU QDFK GHU 'XUFKVXFKXQJ GHU OHW]WHQ 7DVFKHLQQH .\URQ %DUUDNXQ ]RJ GLH JUQH ,'.DUWH GLH HU ELV GDKLQ NUDPSIKDIW LQ HLQHU 7DVFKH VHLQHU 0RQWXUPLWGHQ)LQJHUQXPNODPPHUWKDWWHKHUDXVXQGVFKREVLHLQGHQEH]HLFKQHWHQ6FKOLW] ª0DQZLUG6LHEHVWRKOHQKDEHQ$O\LS©PHLQWHHU ª'DVLVWGHSULPLHUHQG©VDJWHGHU%OXHZHLQHUOLFKª:RLFKPLFKGRFKVRK|IOLFKEHQRPPHQXQG QLFKWJHGUlQJHOWKDEH© ª'DV 8QLYHUVXP LVW YROOHU *DXQHU© HUNOlUWH (DUQ\ ZlKUHQG GDV 5RERWWD[L VWDUWHWH ª7DVFKHQGLHEHVLQGQRFKGLHKDUPORVHVWHQ6SH]LV7U|VWHQ6LHVLFKGDPLWGDVVQLHPDQGPLWHLQHU IUHPGHQ,'.UHGLWNDUWHHWZDVDQIDQJHQNDQQDXHUVLHDOV6RXYHQLUDXI]XEHZDKUHQ© ª6LH ZDU LQ PHLQHU %ULHIWDVFKH XQG LQ GHU EHIDQGHQ VLFK GUHLWDXVHQG 6RODU© HUZLGHUWH $O\LS 6DKJLLU\ ª'DVZDUOHLFKWVLQQLJ©PHLQWH(DUQ\ .\URQVDJWHQLFKWV(UZDUGDPLWEHVFKlIWLJWDXVGHU+|KHYRQ]LUNDGUHLKXQGHUW0HWHUQGLHGHU
*OHLWHUQDFKGHP6WDUWKLHOWGDVVLQQYHUZLUUHQGH.RQJORPH UDW]XEHWUDFKWHQGDV0DUVSRUWQDFKGHU%HVDW]XQJV]HLWGHUhEHUVFKZHUHQZDU hEHUDOO]ZLVFKHQGHQ*HElXGHQDXVGHU=HLWYRUGHU.RQ]LOVKHUUVFKDIWUDJWHQGLHGVWHUHQ.O|W]H GHU:RKQXQG.XOWVWlWWHQGHUhEHUVFKZHUHQDXIGLHGLH%HVDW]HUYRQGHQYHUVNODYWHQ7HUUDQHUQ KDWWHQ HUULFKWHQ ODVVHQ 1DFK GHU .RQ]LOVKHUUVFKDIW ZDUHQ DXFK VFKRQ QHXH *HElXGH XQG JDQ]H 6WDGWYLHUWHOHUEDXWZRUGHQXQG]ZDULQGHQDOWHQ6WDGWYLHUWHOQGLHGLHhEHUVFKZHUHQªJHVFKOHLIW© KDWWHQ ZHLO GDULQ HLQLJH LKUHU 5DXPIDKUHU VSXUORV YHUVFKZXQGHQ ZDUHQ 'RFK GLH %DXWHQ GHU %HVDW]HUVROOWHQEOHLEHQKDWWHGLHDXI0DUVZRKQHQGH%HY|ONHUXQJEHVFKORVVHQ6LHVROOWHQVSlWHUH *HQHUDWLRQHQ PDKQHQ VWHWV ZDFKVDP ]X VHLQ XQG QLHPDOV HLQHU )UHPGKHUUVFKDIW HLQH &KDQFH ]X JHEHQ (DUQ\ GHU %OXH XQG .\URQ IORJHQ QDFK YRUQ ELV GLH 6LFKHUKHLWVJXUWH VLH DXIKLHOWHQ DOV GHU *OHLWHUDEUXSWEUHPVWH $O\LS 6DKJLLU\ ULHI HWZDV LQ GHU IO|WHQGHQ XQG ]ZLWVFKHUQGHQ 6SUDFKH GHU %OXHV 'HU *OHLWHU JLQJ LQ HLQH HQJH .XUYH XQG VFKLHQ ]XU /DQGXQJ DQ]XVHW]HQ REZRKO GDV +RFKKDXV GHU *&& =HQWUDOH0DUVQRFKJDUQLFKW]XVHKHQZDU 3O|W]OLFK YHUGXQNHOWH HLQ 6FKDWWHQ GLH 6RQQH $OV .\URQ %DUUDNXQ DXIVDK HQWGHFNWH HU HLQ NXJHOI|UPLJHV 5DXPVFKLII GDV GHQ *OHLWHU LQ K|FKVWHQV IQIKXQGHUW 0HWHUQ +|KH EHUIORJ XQG UDVFK DQ +|KH YHUORU 'LH $XHQPLNURSKRQH GHV *OHLWHUV EHUWUXJHQ VWRWWHUQGHV %URGHOQ XQG 'RQQHUQ ª(LQH.UHYHWWH©ULHI(DUQ\ª6LHVWU]WDE© )DVVXQJVORVEHREDFKWHWH.\URQGDV5DXPVFKLII ª'DVJLEWHVGRFKQLFKWGDVVHLQ6FKLIIEHU0DUVSRUWDEVWU]W©VWLHHUKHUYRU 8QWHUGHVVHQ KDWWH GHU *OHLWHU VHLQH /DQGHVFKOHLIH JHNXUYW XQG VFKZHEWH VFKUlJ DXI HLQH 6WUDHQVFKOXFKW]X=DKOORVHDQGHUH*OHLWHUVHQNWHQVLFKHEHQIDOOVKHUDE,KUH5RERWSLORWHQVXFKWHQ VLFKHUH /DQGHSOlW]H 6LH ZDUHQ RIIHQVLFKWOLFK YRQ LKUHU /HLW]HQWUDOH DXV JHZDUQW ZRUGHQ XQG IROJWHQHLQHP.DWDVWURSKHQSURJUDPP .\URQKLHOWVLFKDQGHQ6HLWHQOHKQHQVHLQHV6LW]HVIHVW(UIKOWHVLFKYHUZLUUWXQGKLOIORVXQGHU DKQWH GDVV HU GHP 7RGH QDKH ZDU :HQQ HLQH .RUYHWWH DXI 0DUVSRUW VWU]WH XQG H[SORGLHUWH PXVVWHGHUJURH7HLOGHU+DXSWVWDGWGHV0DUVLP*OXWRUNDQGHU'UXFNZHOOHYHUJHKHQ(VZUGH LKPXQGVHLQHQ*HIlKUWHQQLFKWVQW]HQZHQQGHU*OHLWHUVLFKLQHLQH6WUDHQVFKOXFKWIOFKWHWH $O\LS 6DKJLLU\ VFKQDOOWH VLFK ORV XQG ZDUI VLFK DXI GHQ %RGHQ GHV *OHLWHUV .\URQ YHU]LFKWHWH DXIGLH]ZDUYHUVWlQGOLFKHDEHUY|OOLJQXW]ORVH0DQDKPH(UVWDUUWHQXUZLHK\SQRWLVLHUWDXIGDV NOHLQH5DXPVFKLIIGDVDQVFKHLQHQGY|OOLJDXHU.RQWUROOHJHUDWHQZDU $OVHVHLQHQ6SUXQJWDWZXVVWHHUQLFKWZDVHUGDYRQKDOWHQVROOWH$EHU(DUQ\EHJULIIVRIRUWZDV JHVFKDK ª6LHKDEHQHV©HUNOlUWHHUª6LHKDEHQHVPLW)HVVHOIHOGHUQJHSDFNWXQGYHUVXFKHQHVDXVGHP .XUV]XUHLHQ+RIIHQWOLFKJHOLQJWHVLKQHQ© 'DZXVVWH.\URQZDVJHVFKDK 1DFKGHP GLH 5RERWSLORWHQ DOOH *OHLWHU XQWHU HLQH EHVWLPPWH +|KH JHVWHXHUW KDWWHQ ZDU GHU +LPPHO EHU 0DUVSRUW IUHL JHZHVHQ IU GHQ (LQVDW] GHU )HVVHOIHOGSURMHNWRUHQ GLH IU P|JOLFKH .DWDVWURSKHQIlOOHEHUGLHJDQ]H6WDGWYHUWHLOWZDUHQ6LHNRQQWHQLKUHHQHUJHWLVFKHQ)DQJQHW]HLQ GHQ/XIWUDXPEHU0DUVSRUWVFKOHXGHUQRKQHGDVVGDGXUFK*OHLWHUXQGGHUHQ3DVVDJLHUHJHIlKUGHW ZRUGHQZlUHQ 2EVLHDOOHUGLQJVGDPLWGHQ$EVWXU]GHV6FKLIIHVYHUKLQGHUWHQNDPGDUDXIDQZLHGHU(LQVDW]GHU )HVVHOIHOGHUNRRUGLQLHUWZXUGH6LHPXVVWHQVLFKDXIJDQ]EH VWLPPWH :HLVH EHUODSSHQ XP GLH .RUYHWWH QLFKW QRFK VFKQHOOHU KHUDE]X]LHKHQ VRQGHUQ QDFK
REHQ DESUDOOHQ ]X ODVVHQ QDFK]XIDVVHQ XQG VLH LQ GHQ (UIDVVXQJVEHUHLFK GHU HQHUJHWLVFKHQ 6WDUW XQG/DQGHJHUVWHGHV5DXPKDIHQV]X]LHKHQ1XUYRQGLHVHQVXSHUVWDUNHQ.UDIWIHOGHUQNRQQWHHLQ 6FKLIIZHLFK]X%RGHQJHEUDFKWZHUGHQ .\URQNRQQWHQLFKWPHKUYHUIROJHQREGDVJHODQJGHQQGHU*OHLWHUVDQNLQGLH6WUDHQVFKOXFKW XQG ODQGHWH 'LH $XHQPLNURSKRQH EHUWUXJHQ /DXWVSUHFKHUGXUFKVDJHQ DXV HQWVSUHFKHQGHQ VWDWLRQlUHQ $QODJHQ LQV ,QQHUH GHV *OHLWHUV 6LH ZDUHQ DQ GLH (LQZRKQHU XQG %HVXFKHU YRQ 0DUVSRUW JHULFKWHW XQG IRUGHUWHQ VLH DXI 5XKH ]X EHZDKUHQ XQG VR VFKQHOO ZLH P|JOLFK GLH QlFKVWOLHJHQGH 5RKUEDKQVWDWLRQHQ DXI]XVXFKHQ 'D GLH 6WDWLRQHQ DOOH PHKUHUH KXQGHUW 0HWHU WLHI XQWHU GHU 0DUVREHUIOlFKH ODJHQ ERWHQ VLH HLQ JURHV 0D DQ 6LFKHUKHLW DXFK EHL 1XNOHDUH[SORVLRQHQ .\URQVDK]DKOORVH/HXWHGUDXHQYRUEHLUHQQHQ(UMHGRFKEOLHEUXKLJVLW]HQGHQQHUZXVVWHGDVV HU HV QLFKW VFKDIIHQ ZUGH GD GLH (QWVFKHLGXQJ LQQHUKDOE GHU QlFKVWHQ ]ZDQ]LJ 6HNXQGHQ IDOOHQ PXVVWH'DQQZUGHHUHQWZHGHUZHLWHUOHEHQRGHUWRWVHLQ (DUQ\ZXVVWHGDVHEHQIDOOV$XFKHUZDUWHWHLQVWRLVFKHU5XKHDXIVHLQ6FKLFNVDO$O\LS6DKJLLU\ GDJHJHQUDSSHOWHVLFKDXIXQGZROOWHDXVGHP*OHLWHUVWU]HQ(UEOLHEMHGRFKDOV(DUQ\LKQDQVWLH XQGLKQNRSIVFKWWHOQGDQVDK 'LH ]ZDQ]LJ 6HNXQGHQ YHUJLQJHQ LQ QHUYHQ]HUPUEHQGHU /DQJVDPNHLW =DKOUHLFKH /HXWH ZDUHQ LQ]ZLVFKHQ LQ GHQ (LQJlQJHQ GHU =XJDQJVVFKlFKWH GHU 5RKUEDKQVWDWLRQHQ YHUVFKZXQGHQ 'LH HV QLFKWPHKUJHVFKDIIWKDWWHQEOLHEHQJU|WHQWHLOVVWHKHQZHLOVLHVLFKHEHQIDOOVDXVUHFKQHWHQGDVV VLHNHLQH=HLWPHKUKDWWHQVLFKLQ6LFKHUKHLW]XEULQJHQ ª*HVFKDIIW©PHLQWH(DUQ\QDFKH[DNW]ZDQ]LJ6HNXQGHQ ,PQlFKVWHQ$XJHQEOLFNEUOOWHQGUDXHQGLH/DXWVSUHFKHUZLHGHUDXIXQGYHUNQGHWHQGDV(QGH GHV$ODUP]XVWDQGVGDGDV6FKLIIVLFKHUDXIGHP5DXPKDIHQYRQ0DUVSRUWJHODQGHWZRUGHQVHL (DUQ\.\URQXQGGHU%OXHVDKHQVLFKDQ ª8QHUK|UWGDVVVRHWZDVSDVVLHUHQNRQQWH©HQWUVWHWHVLFK$O\LSª(VJHK|UWVFKRQHLQULHVLJHV 0D DQ 6FKODPSHUHL GD]X GHQ 6WDUW HLQHV 6FKLIIHV ]X HUP|JOLFKHQ GHVVHQ $JJUHJDWH QLFKW KXQGHUWSUR]HQWLJLQ2UGQXQJVLQG© ª6FKODPSHUHL NDQQ QLFKW GHU *UXQG VHLQ© HUNOlUWH (DUQ\ ª,QHLQDQGHU YHU]DKQWH &RPSXWHUNRQWUROOHQODVVHQNHLQH)HKOHUDXV1DFKOlVVLJNHLW]X© ª(V VHL GHQQ MHPDQG PDQLSXOLHUW JDQ] EHZXVVW GLH .RQWUROOFRPSXWHU© VDJWH .\URQ ª-HPDQG GHU ZHL GDVV GLH 7ULHEZHUNH HLQHV 6FKLIIHV QLFKW LQ 2UGQXQJ VLQG ZDV ZLHGHUXP QXU SDVVLHUHQ NDQQZHQQVLHDEVLFKWOLFKEHVFKlGLJWEH]LHKXQJVZHLVHIHKOJHVFKDOWHWZXUGHQ© ª$EHUGDVZlUH6DERWDJH©ULHIGHU%OXH (DUQ\XQG.\URQVDKHQVLFKDQGDQQQLFNWHQVLHVLFK]X6LHZXVVWHQGXUFK(NURQ9DUPLQGYRQ GHQ6DERWDJHIlOOHQGLHVLFKJHJHQGLH/)7)ORWWHXQGLKUHQORJLVWLVFKHQ$SSDUDWULFKWHWHQXQGVLH EHJULIIHQ GDVV VLH HLQHQ VROFKHQ 6DERWDJHIDOO VRHEHQ LQ VHLQHU SUDNWLVFKHQ $XVZLUNXQJ PLWHUOHEW KDWWHQ ª,FK IUFKWH ZLU ZHUGHQ XQV QLFKW VR LQWHQVLY XP ,KUHQ )DOO NPPHUQ N|QQHQ $O\LS© VDJWH .\URQ%DUUDNXQQDFKHLQHU:HLOHª(VZLUGZLFKWLJHUVHLQGDV5lWVHOGHU6DERWDJHIlOOH]XO|VHQ &DULOGDLVW]ZDUWFKWLJDEHUDOOHLQNRPPWVLHQLFKWVFKQHOOJHQXJYRUDQ© $O\LS 6DKJLLU\ EOLFNWH LKQ YHUEOIIW XQG lUJHUOLFK DQ ZDV DOOHUGLQJV QXU DQ VHLQHQ $XJHQ ]X VHKHQZDUGD%OXHVNHLQHPXVNXOlUHQPLPLVFKHQ$XVGUXFNVP|JOLFKNHLWHQKDWWHQ ª$EHUZLUKDEHQHLQHQ9HUWUDJDEJHVFKORVVHQ©SURWHVWLHUWHHUVFKOLHOLFK ª:DVQW]WHV,KQHQXQGGHU*&&ZHQQZLUHLQHQ7ULVRQLXPGLHEVWDKODXINOlUHQXQG,KQHQJOHLFK GDUDXIHLQ5DXPVFKLIIDXIGHQ.RSIIlOOW©HUNOlUWH(DUQ\ª6LHKDEHQMDHUOHEWZLHQDKHGHU7RG QLFKWQXUXQVVRQGHUQJDQ]0DUVSRUWZDU© ª'DVZDUGHPQDFKNHLQ(LQ]HOIDOO"©IUDJWHGHU%OXH ª'DV ZDU HLQHU YRQ ]DKOUHLFKHQ 6DERWDJHIlOOHQ© HUZLGHUWH .\URQ %DUUDNXQ ª(U KDW PLFK GUDVWLVFK GDUEHU DXIJHNOlUW ZR GLH 3ULRULWlWHQ OLHJHQ 'HQQRFK ZHUGHQ ZLU GDV &RPSXWHUV\VWHP GHU 0DUV]HQWUDOH YRQ *&& EHUSUIHQ XQG ]ZDU VR GDVV GHUMHQLJH GHU IU GHQ 'LHEVWDKO GHV 7ULVRQLXPVYHUDQWZRUWOLFKLVWVLFKLQGLH(QJHJHWULHEHQIKOW'DVLVW]ZDUQLFKWGLHHOHJDQWH$UW
LQGHUZLUVRQVW)lOOH]XO|VHQSIOHJHQDEHULFKKRIIHGDVDEJHNU]WH9HUIDKUHQIKUWHEHQIDOOV]XP =LHO© .\URQ OHKQWH VLFK ]XUFN QDFKGHP HU GLH HUVWH ª%HIUDJXQJ© GHV +DXSWFRPSXWHUV GHU PDUVLDQLVFKHQ=HQWUDOHGHU*&&GXUFKJHIKUWKDWWH ª'DV 3UREOHP LVW YLHOVFKLFKWLJ© VDJWH HU ]X $O\LS 6DKJLLU\ ª'LH YRQ ,R DXI GHP 0DUV DQNRPPHQGHQ /LHIHUXQJHQ WULVRQLXPKDOWLJHQ *HVWHLQV ZXUGHQ IUKHU GLUHNW YRQ GHQ 6WHOODUIUDFKWHUQDXIGLH)HUQUDXPVFKLIIHXPJHODGHQ6HLWGHU%ORFNLHUXQJ2O\PSVGXUFKGLH2UELWHU PDQJHOW HV MHGRFK DQ )HUQUDXPVFKLIIHQ GD *WHU GLH IUKHU YRQ 2O\PS DXV EHU GLH &RQWDLQ WUDQVVWUDH LQV 6ROV\VWHP JHVFKLFNW ZXUGHQ KHXWH PLW *URUDXPVFKLIIHQ DXV DOOHQ 7HLOHQ GHU *DOD[LVJHKROWZHUGHQPVVHQ 'HVKDOEZLUGGDV*HVWHLQYRP5DXPKDIHQEHL0DUVSRUWPLW6FKZHUODVWJOHLWHUQ]XGUHL]ZLVFKHQ VHFKVKXQGHUWXQGWDXVHQGDFKWKXQGHUW.LORPHWHUQHQWIHUQWHQ/DJHUQWUDQVSRUWLHUWZRHVDXI+DOGHQ JHNLSSWZLUG'RUWEOHLEWHVELVZLHGHU6FKLIIH]XU9HUIJXQJVWHKHQGLHHVQDFK'DUWULQJEULQJHQ N|QQHQ (VHUVFKHLQWORJLVFKGDVVMHPDQGGHUGDVZHUWYROOH*HVWHLQVWHKOHQZLOOGDVDXIGHP:HJYRP 5DXPKDIHQ]XGHQ/DJHUQWXW6RLVWHVZDKUVFKHLQOLFKDXFKJHVFKHKHQGHQQGHU+DXSWFRPSXWHU VDJWDXVGDVVUXQGGUHLKXQGHUWWDXVHQG7RQQHQ*HVWHLQYRQ,RJHOLHIHUWZXUGHQ$QGHUQIDOOVKlWWHHU QLFKWGLHhEHUZHLVXQJGHU5HFKQXQJVEHWUlJHYHUDQODVVW© ª'DQQLVWGLH6DFKHGRFKNODU©PHLQWH$O\LS6DKJLLU\ª:LUPVVHQQXUQRFKIHVWVWHOOHQZHU VLFK XP GDV &KDUWHUQ HLQHU 6FKLIIVWRQQDJH EHPKW GLH ]XP 7UDQVSRUW GHU YHUORUHQJHJDQJHQHQ *HVWHLQVPHQJHQEHQ|WLJWZLUG© ª,FKKDEHYHUVXFKWGDVIHVW]XVWHOOHQ©ZDUI(DUQ\HLQª1LHPDQGKDWVLFKXPGLHHQWVSUHFKHQGH 6FKLIIVWRQQDJHEHPKW2KQHGHQ7UDQVSRUWXQGGLH$XIEHUHLWXQJDXI'DUWULQJDEHULVWGDV*HVWHLQ IUQLHPDQGHPYRQ:HUW,FKIUDJHPLFKZHUIDVWGUHLKXQGHUWWDXVHQG7RQQHQ*HVWHLQVWLHKOWRKQH VLFKGDUXP]XEHPKHQGDVGDULQHQWKDOWHQH7ULVRQLXPKHUDXV]XKROHQ© ª(LQHQ$XJHQEOLFN©VDJWHGHU%OXHª'LHUXQGGUHLKXQGHUWWDXVHQG7RQQHQ*HVWHLQPVVWHQVLFK GHPQDFK QRFK DXI GHP 0DUV EHILQGHQ 'DV lQGHUW GLH /DJH %LVKHU ZDU LFK GDYRQ DXVJHJDQJHQ GDVV GDV *HVWHLQ OlQJVW IRUWJHEUDFKW ZRUGHQ ZlUH 1XU GHVZHJHQ KDEH LFK DXI GHP 0DUV QLFKW GDQDFK VXFKHQ ODVVHQ :HQQ HV DEHU QRFK GD LVW ZHUGHQ ZLU HV EDOG JHIXQGHQ KDEHQ 'UHLKXQGHUWWDXVHQG 7RQQHQ *HVWHLQ KDEHQ HLQ YLHO ]X JURHV 9ROXPHQ DOV GDVV VLH LQ HLQHU /DJHUKDOOHYHUVWHFNWVHLQN|QQWHQ6LHPVVHQLUJHQGZRIUHLDQGHU2EHUIOlFKHODJHUQ© (DUQ\XQG.\URQ%DUUDNXQZHFKVHOWHQHLQHQ%OLFNGHV(LQYHUVWlQGQLVVHVGDQQVDJWH.\URQ ª/DVVHQ6LHUXKLJGDQDFKVXFKHQ$O\LSDEHUQXUDOV7lXVFKXQJVPDQ|YHU,FKJODXEHQLFKWGDVV MHPDQG VR GXPP ZDU GUHLKXQGHUWWDXVHQG 7RQQHQ *HVWHLQ LUJHQGZR DXI GHP 0DUV ]X ODJHUQ (U PXVVWHMDPLWHLQHU 6XFKH XQG HLQHU (QWGHFNXQJ UHFKQHQ 1HLQ GDV *HVWHLQ PXVV DXI GHP :HJ YRQ ,R ]XP 0DUV JHVWRKOHQZRUGHQVHLQ© ª$EHUHVLVWGRFKDXIGHP0DUVDQJHNRPPHQVRQVWKlWWHGHU&RPSXWHUHVQLFKWEH]DKOW©ZDQGWH GHU%OXHHLQ ª'DV EHGHXWHW OHGLJOLFK GDVV LQ GHU &RPSXWHUDEWHLOXQJ HLQ .RPSOL]H GHV 'LHEHV VLW]W GHU GHQ &RPSXWHUWlXVFKWH©HUNOlUWH(DUQ\ ª,FKZHUGHDOOH0LWDUEHLWHUEHUSUIHQ©VDJWH$O\LS6DKJLLU\HQWVFKORVVHQ ª8QGGHQ%HWUHIIHQGHQGDGXUFKZDUQHQRKQHLKQEHUIKUHQ]XN|QQHQ©HQWJHJQHWH.\URQª(U PXVV QlPOLFK XQJODXEOLFK UDIILQLHUW YRUJHJDQJHQ VHLQ DQGHUQIDOOV KlWWH LFK GLH 6SXUHQ GHU 0DQLSXODWLRQEHLGHU$EIUDJXQJGHV&RPSXWHUVILQGHQPVVHQ2KQH6SXUHQDEHUNHLQH%HZHLVH© ª:HQQ6LHHWZDVQLFKWILQGHQGDQQH[LVWLHUWHVQLFKW©HUNOlUWH$O\LS .\URQOlFKHOWH ª6LHVFKPHLFKHOQPLU$O\LS'HQQRFKVROOWHQ6LHDN]HSWLHUHQGDVVHVORJLVFKHUVFKHLQWGDVVLFK HLQPDOPHLQHQ0HLVWHUILQGHQPXVVWH-DJDQ]ULFKWLJGHU.RPSOL]HLQGHUPDUVLDQLVFKHQ=HQWUDOH
GHU *&& YHUVWHKW YLHOOHLFKW PHKU YRQ &RPSXWHUQ DOV LFK 'HVKDOE NDQQ LFK LKQ DXI GHP GLUHNWHQ :HJHQLFKWIDVVHQ© ª:DVZROOHQ6LHGDQQXQWHUQHKPHQ.\URQ"©IUDJWHGHU%OXHUDWORV :LHGHUOlFKHOWH.\URQ ª'DVZHUGHLFK,KQHQQLFKWVDJHQ$O\LSGHQQGHU8QEHNDQQWHEHUZDFKW6LHPLW6LFKHUKHLWXQG NDQQDQ,KUHQ5HDNWLRQHQGDUDXIVFKOLHHQZDV6LHEHUXQVHU9RUJHKHQZLVVHQ© ª:LHN|QQWHHUPLFKEHUZDFKHQ"©IUDJWH$O\LS6DKJLLU\ª,FKKDOWHPLFKMDQLFKWOlQJHUDOV6LH DXIGHP0DUVDXIXQGHUPXVVVLFKMDLQGHUPDUVLDQLVFKHQ=HQWUDOHEHILQGHQ© ª'DV LVW ULFKWLJ© VDJWH (DUQ\ ª.LG PHLQW GDVV HU 6LH LQGLUHNW EHUZDFKW GDV KHLW EHU GDV &RPSXWHU9HUEXQGV\VWHPGHU*&&=HQWUDOHQ7HUUDXQG0DUV$XVGHQ$NWLYLWlWHQGHU&RPSXWHU NDQQ HLQ )DFKPDQQ VHKU JHQDX ,KUH 5HDNWLRQHQ KHUDXVOHVHQ DXFK ZHQQ ,KQHQ GDV QLFKW HLQJHKW :HQQ6LHHWZDVYRQ$XJHQGLDJQRVWLNYHUVWHKHQGDQQZLVVHQ6LHZLH.LGGDVPHLQW© ª,FKKDEHGDYRQJHK|UW©HUZLGHUWHGHU%OXHª$EHUGDEHLKDQGHOWHVVLFKXP%HREDFKWXQJHQDQ HLQHPHLQ]LJHQLQVLFKJHVFKORVVHQHQ2UJDQLVPXV© ª'LH,QWHOOLJHQ]HQFRPSXWHULVLHUWHU=LYLOLVDWLRQHQELOGHQPLWLKUHQ&RPSXWHUQOlQJVWHLQHQLQVLFK JHVFKORVVHQHQ 2UJDQLVPXV© HUNOlUWH .\URQ %DUUDNXQ ª$XV GHP ZDV GHU HLQH 7HLO GHV 2UJDQLVPXVWXWOlVVWVLFKDEOHVHQZLHHVXPGHQDQGHUHQ7HLOEHVWHOOWLVW© (UHUKREVLFK ª:LUODVVHQZLHGHUYRQXQVK|UHQ$O\LS© :lKUHQG GHV 5FNIOXJV ]XU =HQWUDOHQ 7UDQVPLWWHUVWDWLRQ YRQ 0DUVSRUW DNWLYLHUWH .\URQ %DUUDNXQGHQ&RPSXWHU7HUPLQDOGHV*OHLWHUVXQGIRUGHUWHGLHQHXHVWHQ1DFKULFKWHQDQ $XIPHUNVDP ODXVFKWH HU GHP %HULFKW EHU GHQ =ZLVFKHQIDOO PLW GHU .RUYHWWH 'LH %HK|UGHQ EHVFK|QLJWHQ QLFKWV XQG HUNOlUWHQ RIIHQ GDVV GHU =ZLVFKHQIDOO GXUFK 6DERWDJH KHUYRUJHUXIHQ ZRUGHQ ZDU 'LH 6DERWHXUH ZDUHQ LQ]ZLVFKHQ VFKRQ JHIDVVW ZRUGHQ (V KDQGHOWH VLFK XP GHQ (UVWHQ .RQWUROOHXU GHU 5RERWHOHPHQWH HLQHU 5HSDUDWXUZHUIW XQG XP GHQ +DXSWSURJUDPPLHUHU GHU (QGSUIXQJVFRPSXWHUGHUVHOEHQ:HUIWGLHGLH6DERWDJHJHPHLQVDPJHSODQWXQGDXVJHIKUWKDWWHQ hEHUGLH0RWLYHGHU6DERWHXUHZXUGHDOOHUGLQJVQLFKWVDXVJHVDJWRIIHQNXQGLJGHVKDOEZHLOGLH (UPLWWOXQJVEHK|UGHQLQGLHVHU+LQVLFKWQRFKLPGXQNHOQWDSSWHQ ª+LQWHUGHQ6DERWDJHDNWLRQHQPXVVHLQH2UJDQLVD WLRQ VWHFNHQ .LG© EHKDXSWHWH (DUQ\ ªDXFK ZHQQ (NURQ NHLQH $QKDOWVSXQNWH GDIU HQWGHFNW KDW© .\URQ HUZLGHUWH QLFKWV GDUDXI (U YHUIROJWH GLH 1DFKULFKWHQ GLH QHXH ,QIRUPDWLRQHQ EHU GLH :HOWUDXPEHEHQ XQG EHU GLH $NWLYLWlWHQ GHU 2UELWHU EUDFKWHQ 6LHE]HKQ 5DXPVFKLIIH ZDUHQ VHLW GHQ OHW]WHQ %HEHQ YHUVFKROOHQ XQG GLH 2UELWHU KDWWHQ HLQ ZLFKWLJHV 6RQQHQV\VWHP GHU hEHUVFKZHUHQ VRZLH GLH +DXSWZHOW GHU 1HX$UNRQLGHQ EHVHW]W ,KUH )RUGHUXQJHQ ODXWHWHQ XQYHUlQGHUW GLH ª*DUEHVFKLDQHU© VROOWHQ VLFK DXV GLHVHU *DOD[LV ]XUFN]LHKHQ ZHQQ VLH QLFKW YHUQLFKWHWZHUGHQZROOWHQ $OVHLQLJH3ROLWLNHUGLH*HVFKHKQLVVHNRPPHQWLHUWHQVFKDOWHWH.\URQDE ª(V LVW ZLH HLQ $OSWUDXP© PHLQWH HU ª'D WDXFKHQ SO|W]OLFK ULHVLJH $UPDGHQ YRQ NHLOI|UPLJHQ 5DXPVFKLIIHQDXIYRQGHQHQQLH]XYRUHLQHJDODNWLVFKH=LYLOLVDWLRQHQEHULFKWHWH,KUH%HVDW]XQJHQ QHQQHQVLFK2UELWHUXQGVLQGDXVJHUHFKQHWGHQ6FKOLPPVWHQGHU)OLEXVWLHUEDQGHQDFKJHELOGHWXQG VLH KDOWHQ GLH $QJHK|ULJHQ GHU KXPDQRLGHQ 9|ONHU GHU 0LOFKVWUDH IU *DUEHVFKLDQHU GLH GLHVH 0LOFKVWUDHHUREHUWKlWWHQ0DQFKPDOJODXEHLFKZLUNOLFKLFKWUlXPH© ª(VLVWUHDO.LG©HUZLGHUWH(DUQ\ª$OOHVEDVLHUWDXIHLQHPVFKUHFNOLFKHQ0LVVYHUVWlQGQLV'LH HLQHQ*XWHQKDOWHQGLHDQGHUHQ*XWHQIUGLH%|VHQ6RHWZDVNRPPWLPPHUZLHGHUYRUQXUVLQGLQ GLHVHP)DOOGLH2UELWHULQGHU/DJHLKUH)RUGHUXQJHQGXUFK]XVHW]HQ'DV(QGHGHUPHQVFKOLFKHQ =LYLOLVDWLRQVWHKWEHYRU(LJHQWOLFKKDWHVNHLQHQ6LQQPHKUGDVVZLUXQVQRFKPLW.ULPLQDOIlOOHQ EHIDVVHQ© ª:DVN|QQHQZLUWXQDOVXQVHU/HEHQVRQRUPDOZLHP|JOLFKZHLWHU]XIKUHQ©HUNOlUWH.\URQ
ª:HQQDOOH7HUUDQHUUHVLJQLHUWHQEUlFKHXQVHUH=LYLOLVDWLRQYRQVHOEVW]XVDPPHQ1HLQMHW]WHUVW UHFKWPVVHQZLUXQVHUH$UEHLWWXQMHGHUDQVHLQHP3ODW]1XUGDQQN|Q QHQZLUQDFK0|JOLFKNHLWHQVXFKHQGDV9HUKlQJQLVDE]XZHQGHQ© ª'DVLVW]ZDUULFKWLJGHQQRFKVWDXQHLFKGDUEHUGDVVGLHPHLVWHQ7HUUDQHUVRGHQNHQZLHGX© PHLQWH (DUQ\ ª0DQFKPDO VFKHLQW HV PLU DOV ZROOWHQ GLH 0HQVFKHQ GLH %HGURKXQJ HLQIDFK QLFKW ZDKUKDEHQ© .\URQQLFNWH 'HU*OHLWHUVHW]WH]XU/DQGXQJDXIHLQHP7D[L+DOWHSXQNWYRUGHU7UDQVPLWWHUVWDWLRQDQ.\URQ XQG (DUQ\ VWLHJHQ DXV XQG EHWUDWHQ GHQ 6WHJ GHU 3ODWWIRUP IU $QN|PPOLQJH 'DV 5RERWWD[L VFKZHEWHVRIRUW]XHLQHP+DOWHSXQNWGHVEHQDFKEDUWHQ6WHJHVDXIGHPVLFKGLH/HXWHGUlQJWHQGLH LQGHU7UDQVPLWWHUVWDWLRQDQJHNRPPHQZDUHQ ª:HQQPDQQLFKWZHLZLHPDQDXIHLQH%HGURKXQJUHDJLHUHQVROOYHUKlOWPDQVLFKPHLVWY|OOLJ QRUPDO(DUQ\6RLVWHVMHGHQIDOOVEHLP'XUFKVFKQLWWVEUJHU© ª'XPHLQVWEHLNULPLQHOOHQ(OHPHQWHQLVWHVDQGHUV"©IUDJWH(DUQ\ª:DVKDVWGXHLJHQWOLFKYRU" 'XP|FKWHVWGLH7ULVLRQLXPGLHEHDXVGHU5HVHUYHORFNHQQLFKWZDKU"© ª,FK ZHUGH EHL GHU 6RODUHQ 5HJLVWULHUXQJVEHK|UGH IHVWVWHOOHQ ODVVHQ ZHOFKH 6FKLIIH WULVRQLXPKDOWLJHV*HVWHLQYRQ,R]XP0DUVWUDQVSRUWLHUWKDEHQ©HUNOlUWH.\URQª0HLQHU0HLQXQJ QDFKZLUGGDVGLH'LHEHVREHXQUXKLJHQGDVVVLHXQYRUVLFKWLJZHUGHQXQGVLFKHLQH%O|HJHEHQ© ª$EHU GX JODXEVW QLFKW ZLUNOLFK GDVV GDV *HVWHLQ ]ZLVFKHQ ,R XQG 0DUV EHLVHLWH JHVFKDIIW ZXUGH"© ª1DWUOLFK QLFKW (DUQ\ $O\LS VROOWH OHGLJOLFK GHQNHQ GDVV LFK GDV JODXEH (V ZLUG LQWHUHVVDQW VHLQVHLQH5HDNWLRQHQ]XUHJLVWULHUHQ© ª'XGHQNVWZLHGHUHLQPDOXPYLHOH(FNHQKHUXP.LG©PHLQWH(DUQ\ª$EHUGLHVPDONDQQLFK GLUQLFKWIROJHQ:DVYHUPXWHVWGX"© ª/DGLFKEHUUDVFKHQ(DUQ\©HUZLGHUWH.\URQ 6LHHUUHLFKWHQGHQ.RQWUROOUDXPIUDEJHKHQGH3DV VDJLHUHOLHHQLKUHSK\VLVFKHQXQGSV\FKLVFKHQ'DWHQUHJLVWULHUHQXQGEHWUDWHQZHQLJVSlWHUGLH 6LFKHUKHLWV]RQH HLQHV 6HQGHWUDQVPLWWHUV =ZLVFKHQ GHQ 8PIRUPHUVlXOHQ ZDUWHWHQ VLH GDUDXI GDVV GLHJUHOOOHXFKWHQGHQ%|JHQDXVIQIGLPHQVLRQDOHU(QHUJLHVLFKEHULKQHQDXIEDXWHQXQG]ZLVFKHQ VLFKMHQHVVFKZDU]H:DOOHQHU]HXJWHQGDVHLQRSWLVFKHU1HEHQHIIHNWGHVLQHLQHUQLFKWPHVVEDUHQ =HLWVSDQQH]XVDPPHQJHSUHVVWHQ9RUJDQJVZDUGHUDXVGHU9HUZDQGOXQJGHV%HI|UGHUXQJVREMHNWV LQ EHUJHRUGQHWH (QHUJLH PLW LQ VLFK JHVFKORVVHQHU 6WUXNWXU GHU .RPSULPLHUXQJ LQ HLQHQ K\ SHUOLFKWVFKQHOOHQ ,PSXOV XQG GHU $EVWUDKOXQJ GLHVHV ,PSXOVHV ]X HLQHP (PSIDQJVWUDQVPLWWHU EHVWDQG :DVLP(PSIDQJVWUDQVPLWWHUYRUJLQJZXUGHPLWGHP%HJULIIª:LHGHUYHUVWRIIOLFKXQJ©QXUVHKU XQ]XUHLFKHQGEHVFKULHEHQGHQQHVJHVFKDKYLHOPHKU'LHKRFKHQWZLFNHOWHQ=LYLOLVDWLRQHQKDWWHQ -DKU]HKQWDXVHQGH JHEUDXFKW XP PLW ]lKHU XQG NRVWVSLHOLJHU )RUVFKXQJVDUEHLW GLH 0HWKRGHQ GLH 0DWHULDOLHQ XQG GLH (LQ]HOWHLOH HLQHV VR NRPSOL]LHUWHQ $JJUHJDWV ]X HQWZLFNHOQ XQG SUDNWLVFK ]X HUSUREHQ GDV OHEHQGH 0DWHULH XQYHUVHKUW XQG RKQH PHVVEDUHQ =HLWYHUOXVW EHU YLHOH /LFKWMDKUH KLQZHJEHI|UGHUQNRQQWH 2KQH GDV +LOIVPLWWHO GDV DXFK GLH 5DXPIDKUW EHUKDXSW HUVW HUP|JOLFKW KDWWH ZlUH GLHVHV =LHO IUHLOLFKQLH]XHUUHLFKHQJHZHVHQ'LHVHV+LOIVPLWWHOKLH&RPSXWHUZRPLWQLFKWQXUHOHNWURQLVFKH 5HFKHQ XQG 'HQNPDVFKLQHQ JHPHLQW ZDUHQ VRQGHUQ DXFK GLH ZHLWDXV NRPSOL]LHUWHUHQ XQG OHLVWXQJVIlKLJHUHQ3RVLWURQLNHQXQG,QSRWURQLNHQ 'DUEHUZXUGHVLFK.\URQ%DUUDNXQNODUDOVHUQDFKGHU:LHGHUYHUVWRIIOLFKXQJLQGHU=HQWUDOHQ 7UDQVPLWWHUVWDWLRQYRQ7HUUDQLD&LW\VHLQNODUHV'HQNHQZLHGHUHUODQJWHXQGHUVDJWHVLFKGDVVGHU 0LVVEUDXFK GHU &RPSXWHU IU LQWHOOLJHQWNULPLQHOOH +DQGOXQJHQ HLJHQWOLFK HLQ JHULQJHU 3UHLV IU GHQ)RUWVFKULWWZDUGHQGLH&RPSXWHUHUVWHUP|JOLFKWKDWWHQ
ª'DV LVW QLFKW P|JOLFK© HUNOlUWH .\URQ %DUUDNXQ QDFKGHP HU GLH 'DWHQ JHOHVHQ KDWWH GLH DXI GHP%LOGVFKLUPGHV'DWHQVSHLFKHUVGHU6RODUHQ5HJLVWULHUXQJVEHK|UGHHUVFKLHQHQZDUHQ ª:DV LVW QLFKW P|JOLFK"© IUDJWH GLH $QJHVWHOOWH GLH GLH %HQXW]XQJ GHU &RPSXWHU YRQ 6RO5HJ EHUZDFKWH ª+LHU LVW QXU HLQ HLQ]LJHU 6WHOODUIUDFKWHU GLH -26+8$ +(// :(* IU GLH 7UDQVSRUWH WULVRQLXPKDOWLJHQ *HVWHLQV YRQ ,R QDFK GHP 0DUV UHJLVWULHUW© VDJWH .\URQ ª8QG ]ZDU PLW QXU HLQHP )OXJ SUR :RFKH 'LH -26+8$ +(// :(* DEHU KDW QXU HLQH 7UDQVSRUWNDSD]LWlW YRQ ]ZDQ]LJWDXVHQG 7RQQHQ 6LH NDQQ DOVR LQ GHQ OHW]WHQ GUHL :RFKHQ K|FKVWHQV VHFK]LJWDXVHQG 7RQQHQ*HVWHLQ]XP0DUVJHEUDFKWKDEHQ'LH&RPSXWHUGHU*&&DEHUKDEHQGLH/LHIHUXQJYRQ GUHLKXQGHUWWDXVHQG7RQQHQUHJLVWULHUW© 'LH$QJHVWHOOWHNDPYRQLKUHP.RQWUROOSXOW]X.\URQKHUEHUXQGPXVWHUWHGLH'DWHQDXIGHP %LOGVFKLUP ª'DQQVLQGHEHQQRFKDQGHUH6FKLIIHHLQJHVHW]WZRUGHQ©PHLQWHVLHª'DUILFK"©6LHGHXWHWHDXI GLH$EUXIWDVWDWXU .\URQQLFNWHREZRKOHUZXVVWHGDVVGLH$QJHVWHOOWHQLFKWPHKU'DWHQDXVGHQ6SHLFKHUQKROHQ NRQQWHDOVHUVHOEVW 6LH IXKU PLW GHQ )LQJHUQ EHU GLH 7DVWDWXU 'LH 'DWHQ YHUVFKZDQGHQ YRP %LOGVFKLUP GDQQ WDXFKWHQQHXH'DWHQDXI6LHEHVDJWHQGDVVHOEHGDVGLHDOWHQ'DWHQEHVDJWKDWWHQ ª+LHULVWWDWVlFKOLFKQXUGLH-26+8$+(//:(*IU7UDQVSRUWHYRQ,R]XP0DUVUHJLVWULHUW© VDJWH GLH $QJHVWHOOWH YHUZXQGHUW ª:LVVHQ 6LH JHQDX GDVV GHU *&& GUHLKXQGHUWWDXVHQG 7RQQHQ WULVRQLXPKDOWLJHV*HVWHLQJHOLHIHUWZXUGHQ"© :LHGHUQLFNWH.\URQ%DUUDNXQ ª'DVEHJUHLIHLFKQLFKW©VDJWHGLH$QJHVWHOOWH ª9LHOOHLFKW KDW GLH -26+8$ +(// :(* PHKU 7UDQVSRUWH GXUFKJHIKUW DOV LKU .DSLWlQ DQJHJHEHQKDWWH©ZDUI(DUQ\HLQGHUVLFKELVKHUSDVVLYYHUKDOWHQKDWWH 'LH $QJHVWHOOWH PXVWHUWH GHQ 5RERWHU YRQ GHP VLH DQQHKPHQ PXVVWH HU VHL HLQ 0HQVFK DOOHUGLQJVNHLQVHKUDQ]LHKHQGZLUNHQGHU0HQVFK ª6WHXHUKLQWHU]LHKXQJ"© ª1LFKWXQEHGLQJW©HUZLGHUWH(DUQ\ª9LHOOHLFKWQXU1DFKOlVVLJNHLW© 'LH $QJHVWHOOWH QLFNWH EHWlWLJWH DEHUPDOV GLH 7DVWDWXU XQG PXVWHUWH GHQ .RGH GHV +\SHUNRPDQVFKOXVVHVGHU)LUPD,NDUXV6WHOODU7UDQVSRUWHGLH.DSLWlQ6W\QW*URPDQJHK|UWHXQG GHUHQHLQ]LJHV6FKLIIGHU6WHOODUIUDFKWHU-26+8$+(//:(*ZDU $QVFKOLHHQGJLQJVLH]XP+\SHUNRPDQVFKOXGHUVLFKLPVHOEHQ6DDOEHIDQGWDVWHWHGHQ.RGH HLQXQGZDUWHWH $QGHUWKDOE0LQXWHQVSlWHUZXUGHGHU+\SHUNRPELOGVFKLUPKHOODEHUHU]HLJWHVWDWWGHV$EELOGV HLQHV 0HQVFKHQ HLQ JURHV & XQG GDUXQWHU GHQ )LUPHQQDPHQ ,NDUXV6WHOODU7UDQVSRUWH 'DV & EHGHXWHWHGDVVGHU$QUXIYRP&RPSXWHUGHU)LUPDHQWJHJHQJHQRPPHQZRUGHQZDU ª6RODUH 5HJLVWULHUEHK|UGH© PHOGHWH VLFK GLH $QJHVWHOOWH ª.RQWUROOWHFKQLNHULQ 6DGLK &RURQ VSULFKW.DQQHLQH$QIUDJHEHDQWZRUWHWZHUGHQ"© ª6RZHLWGLHJHVSHLFKHUWHQ'DWHQHLQH$QWZRUW]XODVVHQMD©HUZLGHUWHGHU&RPSXWHUYRQ,NDUXV 6WHOODU7UDQVSRUWHª(VOLHJWNHLQ6SHUUEHIHKOYRU© ª'DQQ HUELWWH LFK $XVNXQIW GDUEHU ZLH YLHO 7UDQVSRUWH YRQ WULVRQLXPKDOWLJHP *HVWHLQ LQ GHQ OHW]WHQGUHL:RFKHQWDWVlFKOLFKYRQGHU-26+8$+(//:(*DXVJHIKUWZXUGHQ© ª(VZXUGHQXUHLQ7UDQVSRUWGXUFKJHIKUW©DQWZRUWHWHGHU&RPSXWHUª.XU]QDFKGHP6WDUW]XP ]ZHLWHQ )OXJPXVVWHGLH-26+8$+(//:(*ZHJHQ0DVFKLQHQVFKDGHQV]XP0DUV]XUFNNHKUHQ6LH OLHJW DXI GHP :DUWHSODW] GHU 1RYD:HUIW &ROXPEXV &LW\ 5HJLRQ 6\UWLV 0DMRU :HUGHQ ZHLWHUH $XVNQIWHJHZQVFKW"© ª1HLQGDQNH©HUZLGHUWH6DGLK&RURQ
6LHXQWHUEUDFKGLH9HUELQGXQJXQGEOLFNWH.\URQYHUZLUUWDQ ª9HUVWHKHQ6LHGDV"© ª1HLQ© VDJWH .\URQ ª'HPQDFK KDW GLH -26+8$ +(//:(* QXU ]ZDQ]LJWDXVHQG 7RQQHQ *HVWHLQJHOLHIHUW'DDEHULQVJHVDPWGUHLKXQGHUWWDXVHQG7RQQHQDXIGHP0DUVDQJHNRPPHQVLQG PVVHQDQGHUH)UDFKWHUGLHUHVWOLFKHQ]ZHLKXQGHUWDFKW]LJWDXVHQG7RQQHQWUDQVSRUWLHUWKDEHQ© ª8QUHJLVWULHUW©HQWUVWHWHVLFK6DGLK&RURQª'HU6DFKHZHUGHLFKQDFKJHKHQ© 6LH ULHI DXI HLQHP &RPSXWHUDQVFKOXVV GHQ .RGH GHV +\SHUNRPDQVFKOXVVHV YRQ ,QWHUSODQHWDU\ 0LQHUDOV/WGDEGHU)LUPDGHUGLH7ULVRQLXPPLQHDXI,RJHK|UWH'DV9HUZDOWXQJVKDXVGHU)LUPD EHIDQGVLFKDOOHUGLQJVQLFKWDXI,RVRQGHUQDXIGHP0DUVXQG]ZDULQ0DUVSRUW =XHUVWPHOGHWHVLFKGHU$XVNXQIWVFRPSXWHUK|UWHVLFKGDV$QOLHJHQDQXQGYHUEDQG6DGLK&RURQ GDQDFKPLWGHP/HLWHUGHV7UDQVSRUWEURV ª.HLQSURW© PHOGHWH VLFK GHU HWZD DFKW]LJMlKULJH 0DQQ GHVVHQ $EELOG DXI GHP %LOGVFKLUP HUVFKLHQHQZDUª6LHZQVFKHQELWWH"© ª(VKDQGHOWVLFKXPGLH7UDQVSRUWHWULVRQLXPKDOWLJHQ*HVWHLQVYRQ,R]XP0DUV©HUNOlUWH6DGLK &RURQª:HOFKH6FKLIIHDXHUGHU-26+8$+(//:(*VLQGDQGHQ7UDQVSRUWHQEHWHLOLJW"© ª'DPXVVLFKQDFKIUDJHQ©HUZLGHUWH.HLQSURW 6HLQ$EELOGYHUVFKZDQGYRP%LOGVFKLUPXQGNHKUWHQDFKHLQLJHQ0LQXWHQ]XUFN ª:DUXPZROOHQ6LHGDVZLVVHQ"©HUNXQGLJWHHUVLFK ª'DVVSLHOWIU6LHNHLQH5ROOH©HUNOlUWH6DGLK&RURQYHUlUJHUW ª+LQVLFKWOLFK GHU 'ULQJOLFKNHLW VFKRQ©HQWJHJQHWH.HLQSURWª$XVNQIWHEHUDOOHVZDVXQVHUH 7ULVRQLXPI|UGHUXQJ DQJHKW KDW VLFK QlPOLFK XQVHU 9RUVWDQGVYRUVLW]HQGHU 0LVWHU (\ULFK 6DQGW YRUEHKDOWHQ0LVWHU6DQGWEHILQGHWVLFKDEHU]XU=HLWQLFKWLQGHU)LUPD:HQQLFKQDFKLKPVXFKH XQGLQVHLQH3ULYDWVSKlUHHLQGULQJHEUDXFKHLFKHLQH%HJUQGXQJGLHVFKZHUZLHJHQGJHQXJVHLQ PXVV© ª,FK YHUVWHKH QLFKW ZDUXP 6LH GLH 'DWHQ EHU GLH DQ GHQ 7ULVRQLXPWUDQVSRUWHQ EHWHLOLJWHQ 6FKLIIHQLFKWHLQIDFKDXVGHP&RPSXWHUDEIUDJHQ©HUZLGHUWH6DGLK&RURQª(VKDQGHOWVLFKGDEHL GRFKQLFKWXP*HVFKlIWVJHKHLPQLVVH© ª.HLQ .RPPHQWDU© HUNOlUWH .HLQSURW ª,FK KDEH GLH :HLVXQJHQ ]X EHIROJHQ GLH GHU 9RUVWDQG PLUHUWHLOW%LWWHUXIHQ6LHPRUJHQYRUPLWWDJZLHGHUDQGDQQLVW0LVWHU6DQGWKLHU© 'HU%LOGVFKLUPHUORVFK ª6RHWZDV8QK|IOLFKHV©VFKLPSIWH6DGLK&RURQ ª0LVWHU.HLQSURWPXVVJHKRUFKHQZHQQHUVHLQH6WHOOXQJEHKDOWHQZLOO©VDJWH.\URQ%DUUDNXQ ª)UDJHQ6LHPRUJHQYRUPLWWDJEHL0LVWHU6DQGWQDFK,FKUXIHGDQQDP1DFKPLWWDJDQ© ª'HPZHUGHLFKHWZDVHU]lKOHQ©VFKLPSIWHGLH$QJHVWHOOWH .\URQXQG(DUQ\K|UWHQQLFKWGDUDXIVRQGHUQYHUOLHHQGDV*HElXGHGHU5HJLVWULHUEHK|UGH ª:DVQXQ"©IUDJWH(DUQ\GUDXHQª6ROOHQZLUZLUNOLFKELVPRUJHQQDFKPLWWDJZDUWHQ.LG"© ª$XI NHLQHQ )DOO (DUQ\© HUZLGHUWH .\URQ ª:LU ZHUGHQ PDO LP 9HUZDOWXQJVKDXV YRQ ,QWHUSODQHWDU\0LQHUDOVQDFKVHKHQRE0LVWHU6DQGWQLFKWGRFKGRUWLVW© :DV .\URQ %DUUDNXQ XQWHU ªQDFKVHKHQ©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lWH PLW GHP 1DPHQ 6(57+DXEH 6(57VWDQGIUª6LPXOWDQH(PRWLRXQG5HIOH[7UDQVPLVVLRQ© IUGLH5DXPIDKUWHQWZLFNHOWXQG JHEDXW ZRUGHQ 9RQ 1DWXU DXV EHVRQGHUV GDIU SUlGHVWLQLHUWH 3HUVRQHQ GLH DXI GHU ª(PRWLR $NDGHPLH© GHV IUKHUHQ 6RODUHQ ,PSHULXPV DXVJHELOGHW XQG WUDLQLHUW ZRUGHQ ZDUHQ KDWWHQ PLW
+LOIH YRQ 6(57+DXEHQWHUUDQLVFKH*URUDXPVFKLIIH JDQ] DOOHLQJHIORJHQGHQQVLHNRQQWHQLKUH *HKLUQLPSXOVHGDPLWGLUHNWDXIGLH6FKDOWHLQKHLWHQGHUEHWUHIIHQGHQ6FKLIIHEHUWUDJHQZDVYLHOH KXQGHUW6FKDOWYRUJlQJHJOHLFK]HLWLJHUP|JOLFKWH .\URQ %DUUDNXQ KDWWH DOV HUVWHU XQG ELVKHU HLQ]LJHU 0HQVFK HLQH 6(57+DXEH VR]XVDJHQ ]ZHFNHQWIUHPGHWLQGHPHUVLHGD]XEHQXW]WHLQVHLQHQ&RPSXWHUªHLQ]XVWHLJHQ©ZRGXUFKHUXQG GDV *HUlW HLQH )XQNWLRQVHLQKHLW ZXUGHQ $EHU GDV NRQQWH HU HEHQ QXU GHVKDOE ZHLO HU HLQ &RPSXWHU]|JOLQJ ZDU GHU JHQDXVR GHQNHQ NRQQWH ZLH HLQ &RPSXWHU XQG ªLQ© MHGHU 3RVLWURQLN ,QSRWURQLNXQG+\SHULQSRWURQLNDXHULP)DOOHYRQ1$7+$1XQG6(1(&$ ]XPGRPLQLHUHQGHQ )DNWRUZXUGHZHLOVHLQª(LWHU©HLQODULVFKHV&RPSXWHUVFKLIIJHZHVHQZDUXQGODULVFKH&RPSXWHU K|KHUZHUWLJHUZDUHQDOVWHUUDQLVFKH 6HLQ7HUPLQDO|IIQHWHLKPGHQ=XJDQJ]XDOOHQHOHNWURQLVFKHQXQGSRVLWURQLVFKHQ,PSXOVHQGLH ]X*HUl WHQ GHV VRODUHQ &RPSXWHUYHUEXQGQHW]HV JHK|UWHQ XQG LP 8QWHUVFKLHG ]X VHLQHQ 0LWPHQVFKHQ YHUPRFKWH.\URQ%DUUDNXQGLH,QIRUPDWLRQVJHKDOWHGHU,PSXOVH]XHUIDVVHQXQG]XDQDO\VLHUHQ 1DWUOLFKQLFKWDOOHGHQQGDVZlUHVHOEVWIU&RPSXWHU.LG]XYLHOJHZHVHQ6HLQ*HKLUQILOWHUWH YLHOPHKU PLW +LOIH GHU 6(57+DXEH DOOHV DXV ZDV LKQ QLFKW LQWHUHVVLHUWH VR GDVV QXU GLH ,QIRUPDWLRQHQEOLHEHQGLHHUIUVHLQH(UPLWWOXQJHQEHQ|WLJWH (V GDXHUWH NHLQH 0LQXWH GD ZXVVWH HU GDVV (\ULFK 6DQGW VLFK LP 9HUZDOWXQJVJHElXGH YRQ ,QWHUSODQHWDU\ 0LQHUDOV /WG DXIKLHOW GHQQ GHU +DXSWFRPSXWHU GLHVHU )LUPD VDQGWH :HLVXQJVLPSXOVH DXV XQG HPSILQJ $EIUDJXQJVLQIRUPDWLRQHQ ]X GHQHQ QXU GHU 9RUVWDQGVYRUVLW]HQGHDXWRULVLHUWZDU 'RFKGDVZDUQLFKWDOOHVZDV.\URQHUIXKU=XVHLQHP(UVWDXQHQEHPHUNWHHUGDVVMHPDQGEHU HLQHQDQGHUHQKRFKZHUWLJHQ&RPSXWHUVHLQHª/DXVFKWlWLJNHLW©UHJLVWULHUWHXQGVLFKDQVFKLFNWHGHQ 7HUPLQDO]XLGHQWLIL]LHUHQGXUFKGHQGLHVH7lWLJNHLWDXVJHEWZXUGH .\URQ %DUUDNXQ YHUKLQGHUWH GDV LQGHP HU VLFK DXV VHLQHP &RPSXWHU ]XUFN]RJ XQG VHLQHQ 7HUPLQDOGHVDNWLYLHUWH $OVHUDXIVDKVFKDXWH(DUQ\LKQSUIHQGDQ .\URQQLFNWH ª0HLQ9HUGDFKWKDWVLFKEHVWlWLJW(DUQ\(\ULFK6DQGWKDWVLFKYHUOHXJQHQODVVHQ© ª'DQQZLOOHUDOVRNHLQH$XVNXQIWEHUGLHDQGHUHQ5DXPIUDFKWHUHUWHLOHQGLHWULVRQLXPKDOWLJHV *HVWHLQ]XP0DUVOLHIHUWHQ©PHLQWH(DUQ\ ª2IIHQVLFKWOLFK©HUZLGHUWH.\URQª$EHUZDVLVWVHLQ0RWLY"© ª(VNDQQVLFKQXUXPHLQH8PJHKXQJGHU5DXPIUDFKWVWHXHUKDQGHOQ©HUNOlUWH(DUQ\ª8QGGD 6DQGW GLH 6QGHU GHFNW KDW HU DQVFKHLQHQG YRQ GHU 6DFKH PLW SURILWLHUW %HLVSLHOVZHLVH GDGXUFK GDVVGLH.DSLWlQH LKP HLQHQ 3UHLVQDFKODVV JHZlKUWHQ 2GHU GLH EHWUHIIHQGHQ 6FKLIIH JHK|UHQ ,QWHUSODQHWDU\ 0LQHUDOV© ª0|JOLFKZlUHGDVDOOHV©VDJWH.\URQ%DUUDNXQª$EHUGDZDUQRFKHWZDV-HPDQGKDWPLW+LOIH HLQHVKRFKZHUWLJHQ&RPSXWHUVPHLQH1DFKIRUVFKXQJHQEHPHUNWXQGYHUVXFKWEHUGLH$XIVSUXQJ XQVHUHV7HUPLQDOVPHLQH,GHQWLWlWIHVW]XVWHOOHQ© ª'DVLVWIDVWXQP|JOLFK.LG©HUNOlUWH(DUQ\ª,FKELQVLFKHUGDVVHVLP6ROV\VWHPQLHPDQGHQ JLEWGHUHLQH6(57+DXEHEHQXW]WXPLQVHLQHQ&RPSXWHUHLQ]XVWHLJHQXQGGXUFKLKQ=XJDQJ]X DOOHQ ,PSXOVHQ GHV VRODUHQ &RPSXWHUYHUEXQGQHW]HV ]X EHNRPPHQ XQG GLH ,PSXOVH DXFK QRFK IROJHULFKWLJDXV]XZHUWHQ© ª'XYHUPDJVWGDVDXFKRKQH6(57+DXEH©HUZLGHUWH.\URQ ª:HLO LFK HLQ 5RERWHU PLW GUHL 3RVLWURQHQJHKLUQHQ ELQ GLH YRQ GLU DXHUGHP ]X HLQHU IXQNWLRQHOOHQ (LQKHLW ]XVDPPHQJHVFKDOWHW ZXUGHQ GXUFK GLH VLFK LKUH /HLVWXQJVIlKLJNHLW SRWHQ]LHUW©VDJWH(DUQ\PLWVFKLHIHP*ULQVHQ ª'XELVWHLQPDOLJ(DUQ\© ª6LFKHU .LG $EHU LFK NDQQ PLU HLQHQ LQSRWURQLVFKHQ &RPSXWHU YRUVWHOOHQ GHU DQQlKHUQG VR OHLVWXQJVIlKLJLVWZLHLFK$OOHUGLQJVZLUGVLFKQXUMHPDQGHLQHQVROFKHQ&RPSXWHUDQVFKDIIHQGHU
GDPLWGHQJOHLFKHQRGHUlKQOLFKHQ=ZHFNYHUIROJWZLHXQVHUH)LUPD© ª$OVRLVWGHU8QEHNDQQWHHLQ.RQNXUUHQW©PHLQWH.\URQ ª'HUQLFKWXQEHGLQJWDXIGHU6HLWHGHV*HVHW]HVVWHKHQPXVV©HUZLGHUWHGHU5RERWHUª&DULOGD GXXQGLFKVLQGNHLQHQRUPDOHQ0HQVFKHQ©(UNLFKHUWHZHLOHUVLFKDOV0HQVFKEH]HLFKQHWKDWWH ª(VJLEWZRKOQLHPDQGHQGHUVRXQHLJHQQW]LJKDQGHOWZLHZLU)ROJOLFKZLUGMHPDQGGHUEHUGLH 0|JOLFKNHLWHQ XQVHUHV 8QEHNDQQWHQ YHUIJW VFKRQ EHPHUNW KDEHQ GDVV HU VFKQHOOHU UHLFK ZLUG ZHQQHUVHLQH0|JOLFKNHLWHQIUXQJHVHW]OLFKH+DQGOXQJHQPLVVEUDXFKW© ª'X EHUWUHLEVW© HUUHJWH VLFK .\URQ ª,FK NHQQH YLHOH 0HQVFKHQ GLH HEHQIDOOV XQHLJHQQW]LJ KDQGHOQ© ª*HZLVVGLHVH/HXWHVLQGDEHUGHQQRFKDQGHUVDOVZLU©HUZLGHUWH(DUQ\ª,FKILQGHMHGRFKGDVV ZLU XQV VSlWHU XP HLQH ,GHQWLIL]LHUXQJ GHV 8QEHNDQQWHQ EHPKHQ VROOWHQ :LU KDEHQ ]ZHL 3UREOHPHGLHGULQJOLFKHUVLQG© .\URQQLFNWH ª(LQYHUVWDQGHQ .PPHUQ ZLU XQV GDUXP RE &DULOGD LQ GHU 6DERWDJHDQJHOHJHQKHLW HWZDV KHUDXVJHIXQGHQKDWEHLGHPZLUDQVHW]HQN|QQHQ© (VGDXHUWHIDVWGUHL6WXQGHQELV.\URQ%DUUDNXQXQG(DUQ\QDFK]DKOORVHQ9LVLSKRQJHVSUlFKHQ KHUDXVIDQGHQGDVVLKUH3DUWQHULQVSXUORVYHUVFKZXQGHQZDU 'DVKHLWHVJDEHLQH6SXUGLHVLFKDQKDQGLKUHU1DFKIRUVFKXQJHQXQG*HVSUlFKHPLWDQGHUHQ 0HQVFKHQYHUIROJHQOLH'RFKGLHVH6SXUEUDFKDEQDFKGHP&DULOGDLP7HUUDQLVFKHQ,QVWLWXWIU 3DUD3KlQRPHQHPLWGHP3DUD,QJHQLHXU(GQRU&DYDVHOOJHVSURFKHQKDWWH1LHPDQGKDWWHVLHQDFK GLHVHU8QWHUUHGXQJGDV,QVWLWXWYHUODVVHQVHKHQXQGGHVKDOEPXVVWHVLHVLFKHLJHQWOLFKQRFKGRUW EHILQGHQ GD MHGH 3HUVRQ GLH GDV ,QVWLWXW EHWUDW RGHU YHUOLH YRQ GHQ 5RERWNRQWUROOHQ GHU 7UHQ SKRWRJUDSKLHUWXQGVFKZLQJXQJVPlLJUHJLVWULHUWZXUGH 'RFK REZRKO .\URQ %DUUDNXQ YHUDQODVVWH GDVV &DULOGD EHU GLH 5XQGUXIDQODJH GHV ,QVWLWXWV PHKUPDOVDXIJHUXIHQXQG]XP9LVLSKRQJHEHWHQZXUGHPHOGHWHVLHVLFKQLFKW ª'DVEHJUHLIHLFKQLFKW©VDJWH.\URQª:HQQ&DULOGDQRFKGRUWLVWNDQQVLHVLFKGRFKPHOGHQ© ª:lUHVLHQRFKGRUWKlWWHVLHVLFKJHPHOGHW©HUZLGHUWH(DUQ\ ª$EHU VLH NDQQ GDV ,QVWLWXW QLFKW YHUODVVHQ KDEHQ© HQWJHJQHWH .\URQ ª(V VHL GHQQ GLH 5RERWNRQWUROOHQKlWWHQYHUVDJW,FKVSUHFKHQRFKHLQPDOPLW&DYDVHOO© (UVWHOOWHGLH9LVLSKRQYHUELQGXQJ]XP,QVWLWXWKHUXQGOLHVLFKPLW(GQRU&DYDVHOOV$QVFKOXVV YHUELQGHQ 'DV*HVLFKWGHV3DUD,QJHQLHXUVYHUULHW9HUlUJHUXQJ ª,FKZROOWHJHUDGHPLWHLQHPZLFKWLJHQ9HUVXFKDQIDQJHQ0LVWHU%DUUDNXQ©HUNOlUWHHU ª%LWWH HQWVFKXOGLJHQ 6LH© VDJWH .\URQ ª,FK ZHUGH PLFK NXU] IDVVHQ :RUEHU KDW PHLQH 3DUWQHULQPLW,KQHQJHVSURFKHQ"© ª6LHZROOWHZLVVHQREHVP|JOLFKZlUHGDVVHLQHSVLRQLVFKEHJDEWH3HUVRQEHUGDVVWHOODUHXQG LQWHUVWHOODUH .RPPXQLNDWLRQVQHW] HLQHU HUKHEOLFKHQ $Q]DKO DQGHUHU 3HUVRQHQ XQWHUVFKLHGOLFKHU 9RONV]XJHK|ULJNHLW6XJJHVWLYEHIHKOHHUWHLOWGLHHUVWPLWJURHU]HLWOLFKHU9HU]|JHUXQJZLUNHQ© ª,FKYHUVWHKH©HUZLGHUWH.\URQª0HLQH3DUWQHULQGDFKWHRIIHQEDUDQ%R\W0DUJRU© ª$KD©PDFKWH(GQRU&DYDVHOOGHU]ZHLIHOORVGLH=XVDPPHQKlQJHQLFKWNDQQWH ª:lUHGDVP|JOLFK"©IUDJWH.\URQ ª(V LVW QDFK XQVHUHQ KHXWLJHQ (UNHQQWQLVVHQ Y|OOLJ DXVJHVFKORVVHQ© HUNOlUWH (GQRU &DYDVHOO ª$OOHUGLQJVZlUHHLQH+\SQRWLVLHUXQJXQGGDV6XJJHULHUHQEHVWLPPWHU:HLVXQJHQLQ+\SQRVHPLW HUKHEOLFKHP WHFKQLVFKHQ $XIZDQG P|JOLFK ,FK NDQQ PLU DEHU QLFKW YRUVWHOOHQ GDVV GHUDUWLJH $NWLYLWlWHQZHQQVLHXQWHU0LVVEUDXFKGHV|IIHQWOLFKHQ.RPPXQLNDWLRQVQHW]HVHUIROJWHQYRQGHQ .RQWUROOFRPSXWHUQ GHU 9HUPLWWOXQJV]HQWUDOHQ QLFKW HUNDQQW DOV *HVHW]HVYHUVW|H HLQJHVWXIW XQG GHQ]XVWlQGLJHQ%HK|UGHQJHPHOGHWZUGHQ© ª'DVKDEHQ6LHDXFKPHLQHU3DUWQHULQJHVDJW"©ZROOWH.\URQZLVVHQ ª6HOEVWYHUVWlQGOLFK©VDJWH(GQRU&DYDVHOOXQJHGXOGLJª+|UHQ6LHPHLQH=HLW©
ª%LWWHQRFKHLQH)UDJH©XQWHUEUDFKLKQ.\URQª,P PHUKLQ LVW PHLQH 3DUWQHULQ QDFK GHP *HVSUlFK PLW ,KQHQ VSXUORV YHUVFKZXQGHQ +DW 6LH ,KQHQ JHJHQEHUDQJHGHXWHWZRKLQVLHQDFKGHP*HVSUlFKZROOWH"© ª1HLQXQGGD]XKDWWHVLHZRKODXFKNHLQH9HUDQODVVXQJ0LVWHU%DUUDNXQ:DUXPUXIHQ6LHVLH QLFKWEHU6DWHOOLWHQIXQN"© ª2K© PDFKWH .\URQ GHU DQ GLHVH 0|JOLFKNHLW QLFKW JHGDFKW KDWWH ZHLO HV ]X GHQ YLHOHQ 6HOEVWYHUVWlQGOLFKNHLWHQ GHU =LYLOLVDWLRQ JHK|UWH GDVV MHGHU 0HQVFK HLQ .20$UPEDQG WUXJ GHVVHQ 0LQLIXQNJHUlW YRQ MHGHP 2UW GHU (UGH DXV EHU GLH VWDWLRQlUHQ .RPPXQLNDWLRQVVDWHOOLWHQ HUUHLFKWZHUGHQNRQQWHª9LHOHQ'DQN0LVWHU&DYDVHOO© (U VFKDOWHWH GDV 9LVLSKRQ DXI 6DWHOOLWHQIXQN XP XQG GUFNWH GLH 7DVWH GLH GDV JHVSHLFKHUWH $NWLYLHUXQJVXQG5XIVLJQDOIU&DULOGD7RGD\DXVVWUDKOHQOLH'DV6LJQDOZUGH&DULOGDV.20 $UPEDQGHLQVFKDOWHQZHQQVHLQH,QQHQDQWHQQHHVHPSILQJ'DVZLHGHUXPZUGHDP9LVLSKRQHLQH JHOEH /DPSH EOLQNHQ ODVVHQ XQG &DULOGD ZUGH DXV LKUHP .20$UPEDQG HLQH EHVWLPPWH )ROJH YRQ3IHLIW|QHQK|UHQ$XHUGHPZUGHGLH%LOGVFKHLEHLKUHV*HUlWVEOLQNHQELVVLHVLFKJHPHOGHW KDWWH .\URQDWPHWHDXIDOVGLHJHOEH/DPSHZHQLJH6HNXQGHQVSlWHUEOLQNWH ª'DUDQKlWWHQZLUJOHLFKGHQNHQVROOHQ©VDJWHHU]X(DUQ\ (UUXQ]HOWHGLH6WLUQDOVGDVJHOEH%OLQNHQZLHGHUHUORVFKRKQHGDVV&DULOGDVLFKJHPHOGHWKlWWH ª:DV LVW QXU PLW GHP 6FKDOWHU ORV"© VDJWH HU lUJHUOLFK XQG ZROOWH GLH $NWLYLHUXQJV XQG 5XIVLJQDOWDVWHQHXGUFNHQ9HUZXQGHUWOLHHUGLHDXVJHVWUHFNWH+DQGVLQNHQDOVHUVDKGDVVGLH 7DVWHQRFKLPPHUXQWHQZDU (DUQ\ VFKOXJ PLW GHU IODFKHQ +DQG OHLFKW JHJHQ GLH HUORVFKHQH JHOEH /HXFKWVFKHLEH DEHU VLH OHXFKWHWHQLFKWZLHGHUDXI5DVFKQDKPHUGLH9HUNOHLGXQJDEXQGXQWHUVXFKWHGLH.RQWDNWH ª$OOHV LQ 2UGQXQJ .LG© HUNOlUWH HU ª-HGHQIDOOV KLHU %HL &DULOGD GUIWH HV DOOHUGLQJV DQGHUV DXVVHKHQ© ª:LHPHLQVWGXGDV"©IUDJWH.\URQ ª.LGQDSSLQJ©DQWZRUWHWH(DUQ\ª&DULOGDEHILQGHWVLFKLQGHU*HZDOWYRQ(QWIKUHUQ6LHKDEHQ LKU.20$UPEDQGEHVWLPPW]HUVW|UWDOVHVVLFKDNWLYLHUWH$QGHUQIDOOVZlUHHLQH$QSHLOXQJXQG 3RVLWLRQVEHVWLPPXQJP|JOLFKJHZHVHQ© ª*HZDOW"©HFKRWH.\URQLQGHVVHQ0HQWDOLWlWNHLQ3ODW]IU*HZDOWDQZHQGXQJZDUMHGHQIDOOV QLFKWIUGLUHNWHXQGEUXWDOH*HZDOWª:HUVROOWH&DULOGDHQWIKUWKDEHQ"© ª-HPDQGGHUEHIUFKWHWHGDVVVLHLKPDXIGLH6SXUNRPPHQZUGHRGHUMHPDQGGHPVLHEHUHLWV DXIGLH6SXUJHNRPPHQZDU© ª(GQRU &DYDVHOO© ULHI .\URQ HQWUVWHW ª(U PXVV HV VHLQ :DKUVFKHLQOLFK JLEW HV GRFK HLQH 0|JOLFKNHLWGHU%HHLQIOXVVXQJEHUGDV.RPPXQLNDWLRQVQHW]XQG&DULOGDKDWHVKHUDXVJHIXQGHQ :LUPVVHQVRIRUW]XP,QVWLWXW© (DUQ\OlFKHOWHNXPPHUYROO ª(GQRU &DYDVHOO ZDU HV EHVWLPPW QLFKW .LG (U KlWWH XQV VRQVW QLFKW YHUUDWHQ ZDV &DULOGD LKQ IUDJWHXQGHUKlWWHXQVGHQ7LSSPLWGHP.20$UPEDQGQLFKWJHJHEHQ:DKUVFKHLQOLFKEHILQGHW VLFK&DULOGDOlQJVWQLFKWPHKULP,QVWLWXW© ª$EHU GRUW ZDU VLH ]XOHW]W© HUZLGHUWH .\URQ ª:LU PVVHQ DOVR DXI MHGHQ )DOO KLQ XQG KHUDXVILQGHQZDVGRUWPLWLKUJHVFKDK© ª-DGDVPVVHQZLUZRKOGDZLUNHLQHQDQGHUHQ$QKDOWVSXQNWKDEHQ©PHLQWH(DUQ\ ª.LGQDSSLQJ" +LHU LP ,QVWLWXW"© 'LH 0LHQH *RUDQ 0DLVNV GHV VWHOOYHUWUHWHQGHQ ,QVWLWXWVOHLWHUV GUFNWH8QJODXEHQDXVª:HUVROOWH,KUH3DUWQHULQJHNLGQDSSW KDEHQXQGZDUXP"©6HLQHWHOOHUJURHUHFKWH+DQGIXKUGXUFKGHQVFKORKZHLHQ6LFKHONDPPGHU
VLFKEHUGHQDQVRQVWHQNDKOJHVFKRUHQHQ.RSIYRQGHU6WLUQELVLQGHQ1DFNHQ]RJ*RUDQ0DLVN ZDU(UWUXVHUXQG]LUNDKXQGHUWVHFK]LJ-DKUHDOW .\URQ%DUUDNXQEOLFNWH]XGHP]ZHLHLQKDOE0HWHUJURHQ+QHQDXI ª,PPHUKLQYHUVFKZDQGVLHQDFKHLQHP*HVSUlFKPLW(GQRU&DYDVHOO©(UEHULFKWHWHYRQVHLQHP 9LVLSKRQJHVSUlFKPLWGHP3DUD,QJHQLHXUXQGEHUGHQ$XVJDQJVHLQHV9HUVXFKV&DULOGD7RGD\ EHU6DWHOOLWHQIXQN]XHUUHLFKHQ 'DQDFKYHUULHW*RUDQ0DLVNV0LHQH%HWURIIHQKHLWDEHUQLFKWODQJH(UGHXWHWHDXI]ZHL6HVVHO GLHLQVHLQHP$UEHLWV]LPPHUQHEHQHLQHPUXQGHQ6HUYRWLVFKVWDQGHQ ª%HGLHQHQ6LHVLFKXQGQHKPHQ6LH3ODW]0LVWHU%DUUDNXQXQG0LVWHU(DUQ\URE© (DUQ\JULQVWHVDWDQLVFKXQGV\QWKHWLVLHUWHHLQHQ6SHLFKHOIDGHQGHULKPEHUV.LQQUDQQ ª0HLQ1DPHLVW(DUQ\0LVWHU0DLVN© 'HU(UWUXVHUODFKWHWURFNHQ ª:DV LFK QLFKW EH]ZHLIOH $EHU HLQ DOWHU (PRWLRQDXW OlVVW VLFK NHLQHQ 5RERWHU DOV 0HQVFKHQ YRUVWHOOHQ DXFK ZHQQ VHLQH 9HUNOHLGXQJ QRFK VR JXW LVW 6HOEVWYHUVWlQGOLFK EOHLEW GDV XQWHU XQV 8QGQXQODVVHQ6LHPLFKGHU6DFKHQDFKJHKHQ© (UQDKPZLHGHUDQVHLQHP.RQWUROOSXOW3ODW]DNWLYLHUWHGLH.RPPXQLNDWLRQVJHUlWHXQGRUGQHWH DOV HUVWHV HLQH 6SHUUXQJ DOOHU $XHQWUHQ GHV ,QVWLWXWV DQ $QVFKOLHHQG EHIDKO HU GHP +DXSWFRPSXWHUDOOH5l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ª+DOOR (GQRU© VDJWH *RUDQ 0DLVN QDFKGHPHUVLFKGHQ%HULFKWGHV+DXSWFRPSXWHUV]X(QGH DQJHK|UWKDWWHª6HW]HQ6LHVLFKGRFK© ª,FK NDQQ VWHKHQ© HUNOlUWH GHU 3DUD,QJHQLHXU ª/DQJH ZLUG HV KRIIHQWOLFK QLFKW GDXHUQ GHQQ PHLQ9HUVXFKOlXIW© ª:DVIUHLQ9HUVXFKLVWGDV"©IUDJWH*RUDQ0DLVNXQYHUlQGHUWIUHXQGOLFK ª9HUVWlUNXQJ GHU QDWUOLFKHQ SVLRQLVFKHQ (UUHJXQJ EHVWLPPWHU +LUQUHJLRQHQ YRQ =ZHUJVFKZHLQHQPLWWHOVNQVWOLFKHUSDUDSK\VLNDOLVFKHU6WU|PH©HUNOlUWH(GQRU&DYDVHOOª,FKZLOO KHUDXVILQGHQRE=ZHUJVFKZHLQHWDWVlFKOLFKHLQHODWHQWHWHOHSDWKLVFKH%HJDEXQJKDEHQ© ª6LHYHUPXWHQGDVVHVEHL=ZHUJVFKZHLQHQHLQH*HGDQNHQEHUWUDJXQJJLEW(GQRU"©IUDJWHGHU (UWUXVHU =X .\URQ XQG (DUQ\ JHZDQGW HUNOlUWH HU ª8QVHUH =ZHUJVFKZHLQH VLQG 9HUZDQGWH GHU +DXVVFKZHLQHGLHGXUFKJHQHWLVFKH(LQJULIIHQLFKWJU|HUDOV'DFNHOZHUGHQ'DLKU0HWDEROLVPXV GHPPHQVFKOLFKHQVHKUlKQOLFKLVWEHQXW]HQZLUVLHIU9HUVXFKH1DWUOLFKVLQGXQVHUH9HUVXFKH XQEOXWLJ© ª1LFKWGLUHNW*HGDQNHQ*RUDQ©EHDQWZRUWHWH(GQRU&DYDVHOO]|JHUQGGLH)UDJHGHV(UWUXVHUV ª6RQGHUQ6FKZHLQHUHLHQQLFKWZDKU"©PHLQWH*RUDQ0DLVNXQGODFKWHGU|KQHQG ,PQlFKVWHQ$XJHQEOLFNZDUHUZLHGHUY|OOLJHUQVW ª6LHZHUGHQPLUQLFKWHUNOlUHQZROOHQGDVV,KU6FKZHLQHYHUVXFKZLFKWLJHULVWDOV,KUH0LWKLOIH EHLGHU6XFKHQDFKHLQHPYHUVFKZXQGHQHQ0HQVFKHQ(GQRURGHU"© (GQRU&DYDVHOOVFKWWHOWHGHQ.RSIXQGEOLFNWHWURW]LJ]X%RGHQ ª9LHOHQ 'DQN© VDJWH GHU (UWUXVHU ª:RKLQ EUDFKWHQ 6LH 0LVV 7RGD\ QDFKGHP VLH PLW ,KQHQ JHVSURFKHQKDWWH"© ª1LUJHQGZRKLQ©HUZLGHUWH&DYDVHOO ª$EHU 6LH KROWHQ 6LH DXV GHP :DUWHUDXP IU %HVXFKHU DE QDFKGHP VLH EHL ,KQHQ DQJHPHOGHW ZRUGHQZDU"©
ª6HOEVWYHUVWlQGOLFK© ª:DUXP"© ª:HLOHV9RUVFKULIWLVW© ª$KD8QGLVWHVQLFKWDXFK9RUVFKULIW%HVXFKHUQDFKHLQHP*HVSUlFK]XUFN]XP:DUWHUDXP ]XEULQJHQRGHU]XGHU$EWHLOXQJGLHVLHDQVFKOLHHQGEHVXFKHQP|FKWHQ"© 'HU3DUD,QJHQLHXUHUU|WHWH ª-DDEHUPHLQ9HUVXFK© ª,KU9HUVXFKHQWELQGHW6LHQLFKWYRQGHU(LQKDOWXQJHLQHU9RUVFKULIWGLHDXFK]X,KUHUHLJHQHQ 6LFKHUKHLWHUODVVHQZXUGH©VDJWH*RUDQ0DLVNVWUHQJª'DV,QVWLWXWIU3DUD3KlQRPHQHZDUVHLW MHKHU GDV =LHO YRQ 6SLRQHQ GLH LP $XIWUDJ IUHPGHU 0lFKWH 9HUVXFKVXQWHUODJHQ VWHKOHQ RGHU 6DERWDJH YHUEHQ VROOWHQ 'HVKDOE GLH 9RUVFKULIWHQ+lWWHQ6LHVLHHLQJHKDOWHQZlUH0LVV7RGD\ ZDKUVFKHLQOLFKQLFKWHQWIKUWZRUGHQ© ª:DKUVFKHLQOLFKHU LVW GDVV 0LVWHU &DYDVHOO HQWZHGHU HEHQIDOOV HQWIKUW RGHU DXVJHVFKDOWHW ZRUGHQ ZlUH© ZDUI (DUQ\ HLQ ª(QWVFKORVVHQH .LGQDSSHU ODVVHQ VLFK QLFKW GXUFK HLQHQ XQEHZDIIQHWHQHLQ]HOQHQ0DQQDQGHU'XUFKIKUXQJLKUHV3ODQHVKLQGHUQ© ª$N]HSWLHUW©VDJWH*RUDQ0DLVN (U EHWlWLJWH GLH gIIQXQJVDXWRPDWLN GHU 7U PLW +LOIH HLQHU %OLFNVFKDOWXQJ DOV GHU 7UPHOGHU VXPPWH (LQH HWZD IQI]LJMlKULJH )UDX LQ VWUDPPVLW]HQGHU OLQGJUQHU .RPELQDWLRQ EHWUDW GHQ 5DXP ,Q GHUUHFKWHQ+DQGKLHOWVLHHLQHNOHLQH]\OLQGULVFKH5|KUHDXV0HWDOOSODVWLN *RUDQ0DLVNHUKREVLFK ª'LH &KHILQ XQVHUHU 6LFKHUKHLWVDEWHLOXQJ 0LVV 9DO\D +LQWHO 9D\D GDV VLQG 0LVWHU .\URQ %DUUDNXQXQGVHLQ3DUWQHU(DUQ\© 9DO\D+LQWHOQLFNWHGHQ%HVXFKHUQOlFKHOQG]XGDQQJLQJVLH]X*RUDQ0DLVNXQGJDELKPGLH 5|KUH ª'HU6SHLFKHUNULVWDOO*RUDQ©HUNOlUWHVLH ª'DQNH©VDJWHGHU(UWUXVHU (U |IIQHWH GLH U|KUHQI|UPLJH .DSVHO XQG OLH GHQ .ULVWDOO DXV LKU LQ HLQH gIIQXQJ DXI VHLQHP .RQWUROOSXOWJOHLWHQ'DQDFKDNWLYLHUWHHUGLH$EVSLHOXQJ $XVHLQHPIQI=HQWLPHWHUEUHLWHQ6FKOLW]DPJHJHQEHUOLHJHQGHQ5DQGGHV.RQWUROOWLVFKVVFKRE VLFK HLQ +RORVFKLUP (U ]HLJWH GXUFK HLQHQ YHUWLNDOHQ VFKZDU]HQ 6WULFK JHWUHQQW ]ZHL 6]HQHQ HLQPDO HLQ 6WFN 3ODWWHQZHJ DXHUKDOE HLQHU $XHQWU GHV ,QVWLWXWV XQG GDQQ HLQ 6WFN .RUULGRU LQQHUKDOE GHUVHOEHQ $XHQWU $Q YHUVFKLHGHQHQ RSWLVFKHQ (IIHNWHQ ZDU ]X HUNHQQHQ GDVV ]ZHL )LOPHPLWJURHU*HVFKZLQGLJNHLWDEOLHIHQ 3O|W]OLFK ZXUGH GLH /DXIJHVFKZLQGLJNHLW QRUPDO =ZHL 0lQQHU XQG HLQH )UDX NDPHQ EHU GHQ 3ODWWHQZHJDXIGLH$XHQWU]X(LQHQ6FKULWWGDYRUEOLHEHQVLHVWHKHQXQGKLHOWHQLKUH,'.DUWHQ KRFK ª0LWDUEHLWHUGHV,QVWLWXWV©HUNOlUWH*RUDQ0DLVNª'LH,'.DUWHQZHUGHQYRQ7HOHDXJHQJHOHVHQ XQG GLH ,QIRUPDWLRQHQ JHKHQ LQ GLH 3RVLWURQLN GHU 5RERWNRQWUROOH ZR VLH PLW GHQ +LUQZHOOHQPXVWHUQGHUDYLVLHUWHQ3HUVRQHQYHUJOLFKHQZHUGHQ© ,QGHU7UELOGHWHVLFKHLQ6SDOWGDQQJOLWWHQGLH7UKlOIWHQEHLVHLWH(UVWGDZDU]XVHKHQGDVV GLH$XHQ WU LQ :LUNOLFKNHLW HLQ VHKU VWDELOHV 3DQ]HUVFKRWW ZDU 'LH GUHL 3HUVRQHQ JLQJHQ KLQGXUFK XQG ZDUHQJOHLFKGDUDXIDXIGHUDQGHUHQ+lOIWHGHV+RORVFKLUPV]XVHKHQ6LHJLQJHQLQGHQ.RUULGRU XQGYHUVFKZDQGHQDXVGHP(UIDVVXQJVEHUHLFKGHULQQHUHQ7HOHDXJHQ'LH/DXIJHVFKZLQGLJNHLWGHU EHLGHQ)LOPHZXUGHZLHGHUVFKQHOOHU bKQOLFKH 6]HQHQ ZLHGHUKROWHQ VLFK XQJHIlKU YLHU]LJPDO ZlKUHQG GLH $XHQWUHQ ZHFKVHOWHQ 'DQQWDXFKWH&DULOGD7RGD\DXI 6LHNDPYRQDXHQXQGEOLHEYRUGHU7UVWHKHQDOVGHU.RQWUROOURERWHUVLHEHU/DXWVSUHFKHUXP ,GHQWLILNDWLRQEDW$XFK&DULOGD]HLJWHLKUH,'.DUWH'DVLHMHGRFKNHLQH0LWDUEHLWHULQGHV,QVWLWXWV ZDUJHQJWHGDVQLFKWXPHLQJHODVVHQ]XZHUGHQ
'HU .RQWUROOURERWHU HUNXQGLJWH VLFK QDFK LKUHQ :QVFKHQ XQG &DULOGD EDW GDUXP HLQHQ HUIDKUHQHQ 3DUD,QJHQLHXU VSUHFKHQ ]X GUIHQ :HQLJ VSlWHU ZXUGH DXI GHP DQGHUHQ +RORVFKLUP 9DO\D +LQWHO VLFKWEDU 6LH ZLHV GHQ .RQWUROOURERWHU DQ GLH %HVXFKHULQ HLQ]XODVVHQ XQG QDKP &DULOGDLQ(PSIDQJ :lKUHQGVLHVLHEHJUWHVDJWH*RUDQ0DLVN ª'HU.RQWUROOURERWHUWDVWHWMHGHQ%HVXFKHUPLWKRFKHPSILQGOLFKHQ6HQVRUHQDEXQGVWHOOWIHVWRE HU EHZDIIQHW LVW RGHU 0DWHULDOLHQ PLW VLFK IKUW GLH ]X 6SLRQDJH 6DERWDJH RGHU DQGHUHQ YHUEUHFKHULVFKHQ =ZHFNHQ YHUZHQGHW ZHUGHQ N|QQHQ ,VW DOOHV LQ 2UGQXQJ EOLQNW EHU GHU ,QQHQVHLWHGHU7UHLQJUQHV/LFKWDXI© $OVKlWWHHUGDV6WLFKZRUWGDIUJHJHEHQEOLQNWHHVJUQEHUGHU7U9DO\D+LQWHOEDW&DULOGD OlFKHOQGLKULQGHQ:DUWHUDXPIU%HVXFKHU]XIROJHQ*OHLFKGDUDXIZDUHQEHLGH)UDXHQDXVGHP $XIQDKPHEHUHLFKYHUVFKZXQGHQ ª+DOWHQ6LHGLH$EVLFKHUXQJIUSHUIHNW0LVWHU%DUUDNXQ"©ZROOWH*RUDQ0DLVNZLVVHQ ª1HLQ©DQWZRUWHWH.\URQRKQHHLQH(UNOlUXQJDE]XJHEHQ *RUDQ 0DLVN Z|OEWH QXU NXU] GLH %UDXHQ ZlKUHQG (GQRU &DYDVHOO YHUlFKWOLFK GLH /LSSHQ VFKU]WH 'LH$EVSLHOXQJJLQJZHLWHU,PPHUZLHGHUWDXFKWHQYRUHLQHUGHU$XHQWUHQ3HUVRQHQDXIPHLVW 0LWDUEHLWHU 6LH ZXUGHQ EHUSUIW XQG HLQJHODVVHQ XQG LP )DOO YRQ )UHPGHQ DEJHKROW *RUDQ 0DLVNV $XJHQ IXQNHOWHQ ]RUQLJ DOV HLQLJH 0DOH %HVXFKHU GDV ,QVWLWXW YHUOLHHQ RKQH GDVV HLQ 0LWDUEHLWHU VLH ]XU 7U JHEUDFKW KlWWH 'LH .RQWUROOURERWHU OLHHQ VLFK OHGLJOLFK DEHUPDOV GLH ,' .DUWHQ]HLJHQXQG|IIQHWHQGLH7UHQDQVWDQGVORV 3O|W]OLFK IODFNHUWH GLH +lOIWH GHV +RORVFKLUPV GLH HLQ 6WFN )OXU KLQWHU HLQHU $XHQWU ]HLJWH *RUDQ 0DLVN QDKP KDVWLJ HLQLJH 6FKDOWXQJHQ YRU GRFK GDV )ODFNHUQ YHUVWlUNWH VLFK QXU QRFK =HLWZHLOLJ VDK HV DXV DOV WDXFKWHQ VFKHPHQKDIWH *HELOGH DXI GRFK GDV NRQQWHQ RSWLVFKH 7lXVFKXQJHQVHLQ 6FKODJDUWLJ ZXUGH GDV %LOG ZLHGHU NODU (V ]HLJWH HLQ OHHUHV 6WFN GHV .RUULGRUV KLQWHU GHU $XHQWU'DIUIODFNHUWHGLHDQGHUH+lOIWHGHV+RORVFKLUPVXQJHIlKUHLQHKDOEH0LQXWHODQJ$OV GLHVHV %LOG ZLHGHU NODU ZXUGH VDKHQ GLH =XVFKDXHU IU GHQ %UXFKWHLO HLQHU 6HNXQGH GHQ 5FNHQ HLQHUKXPDQRLGHQ3HUVRQGLHRIIHQEDUPLWEHLGHQ+lQGHQHLQHQVFKZHUHQ*HJHQVWDQGKLHOW *RUDQ 0DLVN KLHOW GHQ )LOP DQ OLH LKQ HLQ NXU]HV 6WFN ]XUFNODXIHQ XQG GUFNWH DXI GHQ +DOWHVHQVRUDOVDEHUPDOVGHU5FNHQGHU3HUVRQ]XVHKHQZDU 'HU(UWUXVHUZDQGWHVLFKDQVHLQH%HVXFKHU ª,KU.RPPHQWDU© ª-HPDQGKDWGHQ.RQWUROOURERWHUVREHHLQIOXWGDVVHUQLFKWQXUDXIhEHUSUIXQJHQYHU]LFKWHWH VRQGHUQGLH2SWLNHQVRDXIEOHQGHWHGDVVGHU)LOPQLFKWGHQ8QEHNDQQWHQVRQGHUQQXUHLQ)ODFNHUQ ]HLJWH©HUNOlUWH.\URQRKQH]X]|JHUQª'DGXUFKZDUHVGHP8QEH NDQQWHQP|JOLFKPHLQH3DUWQHULQDXVGHP,QVWLWXW]XHQWIKUHQ© ª$EHUZLH"©IUDJWH*RUDQ0DLVN ª(UWUXJVLHDXIGHQ$UPHQ©PHLQWH.\URQª6LHZDUVLFKHUEHZXWORV© ª6HKU ZDKUVFKHLQOLFK© ZDUI (DUQ\ HLQ ª$EHU JHUDGH GHVKDOE ZLUG HU VLH QLFKW DXI GHQ $UPHQ JHWUDJHQ KDEHQ GHQQ HU PXVVWH GDPLW UHFKQHQ LP ,QVWLWXW XQG DXFK DXHUKDOE DXI GHP :HJ ]X HLQHP 7UDQVSRUWPLWWHO DQGHUHQ 3HUVRQHQ ]X EHJHJQHQ GLH HV YHUGlFKWLJ ILQGHQ ZUGHQ ZHQQ MHPDQGHLQHEHZXWORVH)UDXKHUXPWUlJW 'LH +DOWXQJ GHU 3HUVRQ DXI GHP )LOP YHUUlW PLU DXHUGHP GDVV VLH GLH +lQGH XQWHU HLQHQ %HKlOWHUJHVFKREHQKDWXQGLKQDQHLQHP(QGHWUlJW'DHVVLFKXPHLQHQIDVW]ZHL0HWHUODQJHQ %HKlOWHUKDQGHOWHPXVVHUDPDQGHUHQYRUGHUHQ(QGHYRQHLQHU]ZHLWHQ3HUVRQJHWUDJHQZRUGHQ VHLQ© ª$XVJH]HLFKQHW©ULHI*RUDQ0DLVN ª'DVILQGHLFKQLFKW©VDJWH9DO\D+LQWHOHUVFKWWHUWª:HQQXQVHUH.RQWUROOURERWHUVROHLFKW]X EHHLQIOXVVHQVLQGNDQQMDMHGHU$JHQW© ª1LFKW MHGHU© ULHI .\URQ %DUUDNXQ ª(V JLEW YLHOOHLFKW GUHL 0HQVFKHQ DXI 7HUUD GLH VR HWZDV
N|QQHQRKQHHLQHQ$ODUPDXV]XO|VHQ© ª(LQHUGDYRQVLQG6LH©VDJWH*RUDQ0DLVN .\URQQLFNWH ª:HUVLQGGLHEHLGHQDQGHUHQ0HQVFKHQ"©IUDJWH9DO\D+LQWHO ª3URIHVVRU/ZHOO\Q6KULQDUG\&KHIN\EHUQHWLNHUYRQ,PSHULXP$OSKD©VDJWH.\URQª8QGHLQH XQEHNDQQWH 3HUVRQ GLH LQ GHU /DJH LVW LQ LKUHQ &RPSXWHU HLQ]XVWHLJHQ XQG GDV VRODUH &RPSXWHUYHUEXQGQHW]DXV]XVSLRQLHUHQ,FKEHPHUNWHLKUH$NWLYLWlWHQXQGZXUGHYRQLKUEHPHUNW ZDVGLHKRKH4XDOLILNDWLRQGLHVHU3HUVRQEHZHLVW© ª3URIHVVRU6KULQDUG\GUIWHEHUMHGHQ9HUGDFKWHU KDEHQVHLQ©HUNOlUWH*RUDQ0DLVNª%OHLEWGLHVHXQEHNDQQWH3HUVRQGLH6LH©(UVWXW]WHª:LH KDEHQ6LHLKUH$NWLYLWlWHQEHUKDXSWEHPHUNW0LVWHU%DUUDNXQ"© 9HUOHJHQVXFKWH.\URQQDFKHLQHUXQYHUIlQJOLFKHQ(UNOlUXQJDEHUGDHUHLQEHUDXVVFKOHFKWHU /JQHUZDUIDQGHUNHLQH (DUQ\VSUDQJIULKQHLQ ª$OOHV ZDV XQVHUH (UPLWWOXQJHQ IU .OLHQWHQ EHWULIIW IlOOW XQWHU XQVHUH EHUXIOLFKH 6FKZHLJHSIOLFKW0LVWHU0DLVN© 'HU(UWUXVHUOlFKHOWHLQVLFKKLQHLQ ª1XQMDGDVLVWQLFKWVRZLFKWLJ:LHNDQQPDQGLHVH3HUVRQDXIVSUHQ"© ª,FKGHQNHLFKZHLZLH©HUNOlUWH.\URQXQGHUKREVLFKª9LHOHQ'DQN0LVWHU0DLVN© ª$EHU ZROOHQ 6LH GLH (QWIKUXQJ ,KUHU 3DUWQHULQ QLFKW GHP NULPLQDOLVWLVFKHQ 2UGQXQJVGLHQVW PHOGHQ0LVWHU%DUUDNXQ"©IUDJWH*RUDQ0DLVN ª:R]X"© IUDJWH .\URQ ]XUFN ª(U N|QQWH PLU QLFKW KHOIHQ VRQGHUQ ZUGH PHLQH HLJHQHQ 1DFKIRUVFKXQJHQQXUEHKLQGHUQ.RPP(DUQ\JHKHQZLU© ,Q GHU %URHWDJH YRQ 'ROHQF 3ODFH O DQJHNRPPHQ EHIUDJWH .\URQ %DUUDNXQ DOV HUVWHV VHLQHQ &RPSXWHU7HUPLQDORE$QUXIHIULKQJHNRPPHQZlUHQ 'HU&RPSXWHUVSLHOWH0LWWHLOXQJHQYRQ(NURQ9DUPLQGXQG$O\LS6DKJLLU\DE%HLGH3HUVRQHQ HUNXQGLJWHQ VLFK QDFK )RUWVFKULWWHQ EHL .\URQV (UPLWWOXQJHQ LQ LKUHQ $QJHOHJHQKHLWHQ XQG EDWHQ XP5FNUXI .\URQ LJQRULHUWH LKUH :QVFKH YRUOlXILJ XQG K|UWH VLFK DQ ZDV HLQH XQEHNDQQWH )UDX KLQWHUODVVHQ KDWWH (U VDK VLH DXI GHP %LOGVFKLUP HLQH KRFKJHZDFKVHQH VFKODQNH )UDX YRQ HWZD QHXQ]LJ -DKUHQ DOVR LP PLWWOHUHQ $OWHU PLW VFKXOWHUODQJHP NDVWDQLHQEUDXQHP +DDU XQG HLQHP RYDOHQHEHQPlLJHQ*HVLFKW ,KUHJHVSHLFKHUWH1DFKULFKWKDWWHIROJHQGHQ:RUWODXW ª6HKUJHHKUWHU0LVWHU%DUUDNXQLFKELWWH6LHPLFKDQ]XK|UHQXQGGDQNH,KQHQLPYRUDXVGDIU GDVV6LHPLUHWZDVYRQ,KUHU=HLWJHRSIHUWKDEHQ ,FK KHLH %\ULOOD ,PSOHU ELQ HLQXQGQHXQ]LJ -DKUH DOW XQG YRQ %HUXI &RPSXWHUNRQVWUXNWHXULQ 6SH]LDOJHELHWK\SHULQSRWURQLVFKH=XVDW]HOHPHQWHIU3RVLWURQLNHQ1DFKPHLQHU5FNIKUXQJYRQ *lD OHUQWH LFK ,KUH 3DUWQHULQ &DULOGD 7RGD\ NHQQHQ XQG DUEHLWHWH PLW LKU IU *86726 XP GLH YHUEUHFKHULVFKHQ%RGHQVSHNXODWLRQHQ]XEHNlPSIHQ 6SlWHUYHUORUHQZLUXQVDXVGHQ$XJHQ,FKQDKPHLQH6WHOOXQJLQHLQHP([SHULPHQWDOODERUHLQHU &RPSXWHUEDXILUPD DQ GLH DOOHUGLQJV YRU ]ZHL :RFKHQ LQ .RQNXUV JLQJ 6HLWGHP VXFKH LFK QDFK HLQHU QHXHQ 6WHOOH DEHU GLH %HGURKXQJ GXUFK GLH 2UELWHU OlVVW GLH ,QGXVWULH XQG :LUWVFKDIW VWDJQLHUHQ1LHPDQGVWHOOWHQHXH$UEHLWVNUlIWHHLQ 'DHUIXKULFKZR&DULOGDDUEHLWHWXQGHUNXQGLJWHPLFKGDQDFKXPZDVIUHLQH)LUPDHVVLFK KDQGHOW $OV LFK HV HUIXKU ZDU LFK EHJHLVWHUW XQG IHVW HQWVFKORVVHQ LQ ,KUHU )LUPD PLW]XDUEHLWHQ IDOOV6LHPLFKHLQVWHOOHQ,FKNDQQPLUNHLQHLQWHUHVVDQWHUHXQGQW]OLFKHUH7lWLJNHLWGHQNHQ %LWWH 0LVWHU %DUUDNXQ UXIHQ 6LH PLFK ]XUFN XQG JHEHQ 6LH PLU ZHQLJVWHQV GLH &KDQFH HLQ GLUHNWHV*HVSUlFKPLW,KQHQ]XIKUHQ0LWGHQEHVWHQ*UHQ%\ULOOD,PSOHU© (VIROJWHGHU$QVFKOXNRGHHLQHV9LVLSKRQV ª:DV KlOWVW GX GDYRQ (DUQ\"© IUDJWH .\URQ GHQ 5RERWHU GHU QHEHQ LKP VWDQG XQG DOOHV PLWDQJHK|UW KDWWH ª(LQH &RPSXWHUNRQVWUXNWHXULQ PLW GHP 6SH]LDOJHELHW K\SHULQSRWURQLVFKH
=XVDW]HOHPHQWH IU 3RVLWURQLNHQ PXVV HLQ WROOHU &KLS DXI GHP *HELHW GHU FRPSXWHUJHWUDJHQHQ (UPLWWOXQJHQXQG$QDO\VHQVHLQ© ª'LH 'DPH LVW ]LHPOLFK DXIGULQJOLFK© PHLQWH (DUQ\ XQG PDFKWH HLQ YHUGULHOLFKHV *HVLFKW ª$XHUGHP N|QQHQZLU]XU=HLWQLFKWQDFKSUIHQREVLHWDWVlFKOLFKPLW&DULOGDEHL*86726DUEHLWHWH'X KDVWVLHGDPDOVQLFKWNHQQHQJHOHUQWRGHU"© ª,FK NDQQ PLFK QLFKW DQ VLH HULQQHUQ© HUZLGHUWH .\URQ ª$EHU LFK KDEH MD QXU ]X ZHQLJHQ 0LWJOLHGHUQ YRQ &86726 GLUHNWHQ .RQWDNW JHKDEW ,FK GHQNH LFK VROOWH ZHQLJVWHQV PLW LKU VSUHFKHQ (LJHQWOLFK N|QQWHQ ZLU HLQH WFKWLJH +LOIH JHEUDXFKHQ YRU DOOHP ZHLO &DULOGD DXVIlOOW ,FK PXVV PLFK DXI GLH (UPLWWOXQJ GHU ,GHQWLWlW YRQ &DULOGDV (QWIKUHUQ NRQ]HQWULHUHQ XQG DQVFKOLHHQG GDUDXI ZLH ZLU &DULOGD IUHLEHNRPPHQ 'X ZLUVW PLU GDEHL KHOIHQ PVVHQ (LQH ZLUNOLFKWFKWLJH0LWDUEHLWHULQN|QQWHDXIGLH6DFKHPLWGHPYHUVFKZXQGHQHQ7ULVRQLXPDQJHVHW]W ZHUGHQ 'LHVHU )DOO LVW QXU IU &RPSXWHUVSH]LDOLVWHQ O|VEDU XQG HU LVW QLFKW GUDPDWLVFK ZLH GLH 6DERWDJHIlOOHGHUHQ'UDKW]LHKHUZDKUVFKHLQOLFKPLWGHP(QWIKUHU&DULOGDVLGHQWLVFKLVW© ª'XUHGHVWZLHHLQ:DVVHUIDOO©PHLQWH(DUQ\ ª8QG GX UHGHVW ZLH HLQ 9RFRGHU RKQH &RPSXWHU© HUZLGHUWH .\URQ ª2GHU NDQQVW GX PLU YHUUDWHQZLHHLQ:DVVHUIDOOUHGHW"© ª3DXVHQORV©HUNOlUWH(DUQ\XQGVDEEHUWHlXHUVWXQDSSHWLWOLFK .\URQVW|UWHVLFKMHGRFKQLFKWDQVROFKHQª6FKHU]HQ©VHLQHVURERWLVFKHQ3DUWQHUV$XHUGHPZDU HU DQ GHP JHOHJHQWOLFK DXVIDOOHQGHP %HQHKPHQ (DUQ\V XQG DQGHUHQ 9HUKDOWHQVVW|UXQJHQ VHOEVW VFKXOG GD HU EHLP =XVDPPHQEDX GHV 5RERWHUV XQWHU VWDUNHP =HLWGUXFN JHVWDQGHQ KDWWH XQG GHVKDOEPHKULPSURYLVLHUHQPXVVWHDOVIUHLQKDUPRQLVFKHV)XQNWLRQLHUHQJXWJHZHVHQZDU ª'XUXIVW0LVV,PSOHU]XUFN(DUQ\©VDJWHHUª%HVWHKWVLHGLHVHQ7HVWGDQQELWWHVWGXVLH]X HLQHP*HVSUlFKPLWPLUIUGHQIUKHVWP|JOLFKHQ7HUPLQ]XXQV$EHUEHUWUHLEHGHLQH6FKHU]H QLFKW© (DUQ\IOHWVFKWHGLH=lKQH ª,FKZHUGHLKUDQELHWHQKHXWH$EHQGPLWPLULQGLH%DUGHV*RVKXQ+RWHOV]XJHKHQ.LG© ª8QG ZHQQ VLH ZHLWHUJHKHQ P|FKWH DOV GX GDQQ ELVW GX EODPLHUW© HUZLGHUWH .\URQ XQG HUVFKDXGHUWHª/DJHIlOOLJVWVROFKH'XPPKHLWHQ© ª:LUVLQG3DUWQHU©SURWHVWLHUWH(DUQ\ª'XNDQQVWPLUQLFKWVEHIHKOHQ© .\URQOlFKHOWH ª6FKRQ JXW 6FKHXVDO ,FK ELWWH GLFK KHU]OLFK GDUXP 0LVV ,PSOHU DP 9LVLSKRQ HLQHP 7HVW ]X XQWHU]LHKHQ GHU VLFK DEHU LP %HUHLFK GHV =XPXWEDUHQ KDOWHQ VROO (UIOOVW GX PLU GLHVH %LWWH (DUQ\"© ª'DVZHLWGXGRFKJHQDX.LG©HUNOlUWH(DUQ\ ª'DQNH©VDJWH.\URQª,FKZHUGHPLFKXQWHUGHVVHQPLW(NURQ9DUPLQGLQ9HUELQGXQJVHW]HQ ,UJHQGZLHPVVHQZLUDQGLH+LQWHUPlQQHUGHU6DERWHXUHKHUDQNRPPHQXQGZHQQZLULKQHQEHU )XQNHLQ$QJHERWPDFKHQ&DULOGDEHILQGHWVLFKLQLKUHU*HZDOWXQGGDPLWLQK|FKVWHU*HIDKU1XU GDV]lKOWLP0RPHQWZLUNOLFKIUPLFK© ª)UPLFKDXFK©HUZLGHUWH(DUQ\ª'HVKDOEYHUVWHKHLFKQLFKWJDQ]ZDUXPZLUXQVVFKRQMHW]W XPGLHVH%\ULOOD,PSOHUNPPHUQVROOHQ© ª:HLO LFK DKQH GDVV VLH XQV HLQH JURH +LOIH VHLQ NDQQ© HUNOlUWH .\URQ ª(V LVW HLQ *HIKO YHUVWHKVWGX"© ª+RIIHQWOLFKWUJWHVGLFKQLFKW©PHLQWH(DUQ\ .\URQ%DUUDNXQEOLFNWHQDFKGHQNOLFKDXIGLH3URMHNWLRQVZDQGGLHGDV+lXVHUPHHUYRQ7HUUDQLD &LW\ DEELOGHWH VR ZLH HV YRQ HLQHU 6WHUHRNDPHUD DXI GHP 'DFK GHV +DXVHV 'ROHQF 3ODFH O DXIJHQRPPHQZXUGH(UIUDJWHVLFKZLHHU]XGHU$KQXQJNDPGDVV%\ULOOD,PSOHULKQHQKHOIHQ NRQQWH&DULOGD]XEHIUHLHQDEHUHUIDQGNHLQH$QWZRUW ª,FKJHKH]X(NURQ©HUNOlUWHHU
ª0LVWHU 9DUPLQG EHILQGHW VLFK QLFKW LQ ,PSHULXP$OSKD© VDJWH GLH 9RFRGHUVWLPPH GHU 5RERWDXVNXQIWLQGHU$EIHUWLJXQJVKDOOH ª:DQQNRPPWHUKHU"©IUDJWH.\URQXQJHGXOGLJ ª'DVLVWQLFKWEHNDQQW©HUNOlUWHGLH9RFRGHUVWLPPH ª'DQQP|FKWHLFKVHLQHQ6WHOOYHUWUHWHUVSUHFKHQ©IRUGHUWH.\URQ ª0LVWHU 9UHHG ZLUG EHQDFKULFKWLJW© DQWZRUWHWH GLH 5RERWDXVNXQIW ª%LWWH ZDUWHQ 6LH 0LVWHU %DUUDNXQ© .\URQ EOLFNWH UHVLJQLHUW DXI GHQ %LOGVFKLUP GHU $QPHOGXQJV XQG $XVNXQIWVVlXOH (U ZXVVWH GDVV HU GLH 6DFKH QLFKW EHVFKOHXQLJHQ NRQQWH (V JDE ZDKUVFKHLQOLFK QXU ZHQLJH 0HQVFKHQ LQ ,PSHULXP$OSKD GLH QLFKW VWlQGLJ YROO DXVJHODVWHW ZDUHQ (NURQ 9DUPLQGV 6WHOOYHUWUHWHU JHK|UWH VLFKHUQLFKWGD]X 5LQJVXP ZDU HLQ VWlQGLJHV .RPPHQ XQG *HKHQ .XULHUH YRQ ZHLW HQWIHUQWHQ 6RQQHQV\VWHPHQ 'LSORPDWHQ IUHPGHU =LYLOLVDWLRQHQ .RPPDQGDQWHQ YRQ /)75DXPVFKLIIHQ $EJHRUGQHWH GHV 3DUODPHQWV0LQLVWHU6WDDWVVHNUHWlUHXQG9HUWUHWHUGHU:LUWVFKDIWPHOGHWHQVLFKDQGHQ]DKOUHLFKHQ $QPHOGXQJV XQG $XVNXQIWVVlXOHQ ZDUWHWHQ ELV VLH YRQ $QJHVWHOOWHQ GHU 6LFKHUKHLWVDEWHLOXQJ DEJHKROW XQG ]X LKUHQ *HVSUlFKVSDUWQHUQ JHIKUW ZXUGHQ RGHU NDPHQ DXV GHQ gIIQXQJHQ GHU $QWLJUDYOLIWVXP,PSHULXP$OSKDZLHGHU]XYHUODVVHQ ª$FKWXQJ $FKWXQJ© KDOOWH HLQH 6WLPPH DXV GHQ /DXWVSUHFKHUQ GHU 5XQGUXIDQODJH ª$OOH 0LWDUEHLWHUGHV.ULVWHQVWDEHVHLQVELWWHVRIRUWLQGHQ.RQIHUHQ]UDXP7%ODXHOI© :lKUHQG GLH $XIIRUGHUXQJ ZLHGHUKROW ZXUGH KDVWHWHQ PHKUHUH )UDXHQ XQG 0lQQHU GXUFK GHQ 6DDO ]HLJWHQ GHQ $QJHVWHOOWHQ GHU 6LFKHUKHLWVDEWHLOXQJ GLH YRU GHQ /LIW|IIQXQJHQ VWDQGHQ LKUH 6RQGHUDXVZHLVHXQGZXUGHQGXUFKJHODVVHQ .\URQ ]XFNWH ]XVDPPHQ DOV HLQH ODXWH 6WLPPH DXV VHLQHU $QPHOGXQJV XQG $XVNXQIWVVlXOH VDJWH ª9UHHG:DVNDQQLFKIU6LHWXQ0LVWHU%DUUDNXQ"© .\URQ EOLFNWH DXI GHQ %LOGVFKLUP XQG VDK GDV $EELOG HLQHV ]LUND DFKW]LJMlKULJHQ 0DQQHV GHU HLQHQDEJHKHW]WHQ(LQGUXFNPDFKWH ª,FK P|FKWH 6LH SHUV|QOLFK VSUHFKHQ 0LVWHU 9UHHG© HUNOlUWH .\URQ ª(V KDQGHOW VLFK XP GLH 6DERWDJHDQJHOHJHQKHLWXQGHVLVWGULQJHQG© (NURQ9DUPLQGV6WHOOYHUWUHWHUVHXI]WHGDQQHUZLGHUWHHU ª,FK EHDUEHLWH DXVVFKOLHOLFK $QJHOHJHQKHLWHQ GLH VR GULQJHQG VLQG GDVV VLH VFKRQ YRUJHVWHUQ KlWWHQ HUOHGLJW VHLQ VROOHQ $EHU LFK ODVVH 6LH DEKROHQ 0LVWHU %DUUDNXQ %LWWH KDEHQ 6LH QXU HLQ ZHQLJ*HGXOG© ª:DVEOHLEWPLUDQGHUHVEULJ©VDJWH.\URQ'RFKGDZDUGDV$EELOG9UHHGVVFKRQHUORVFKHQ .\URQWUDWEHLVHLWHZHLOHLQPDUWLDOLVFKJHNOHLGHWHU(SVDOHUGLH$QPHOGXQJVXQG$XVNXQIWVVlXOH EHQXW]HQZROOWH (WZDHLQH9LHUWHOVWXQGHVSlWHUZXUGH.\URQDXIJHUXIHQ(UKREGLH+DQGXQGVDKZLHHLQMXQJHU 0DQQDXILKQ]XOLHI ª,FKVROO6LH]X0LVWHU9UHHGEULQJHQ0LVWHU%DUUDNXQ©VDJWHGHUMXQJH0DQQª%LWWHIROJHQ6LH PLU© (UGUHKWHVLFKXPXQGOLHIDXIHLQHGHU/LFKW|IIQXQJHQ]X.\URQKDWWH0KHLKPDXIGHQ)HUVHQ ]XEOHLEHQ 8QJHIlKU]HKQ0LQXWHQVSlWHUEHWUDW.\URQHWZDVDWHPORVGDV$UEHLWV]LPPHU(NURQ9DUPLQGVLQ GHPVHLQ6WHOOYHUWUHWHUZlKUHQGVHLQHU$EZHVHQKHLWUHVLGLHUWH ª+DOOR 9UHHG© VDJWH HU ZlKUHQG HU GLH UHFKWH +DQG DXVVWUHFNWH XQG VLFK PLW GHU OLQNHQ +DQG HLQH VFKZHLYHUNOHEWH +DDUVWUlKQH DXV GHU 6WLUQ ZLVFKWH ª6LH EULQJHQ (UNHQQWQLVVH EHU GLH +LQWHUJUQGHGHU6DERWDJHIlOOH"© ª/HLGHUQLFKW©HUZLGHUWH.\URQª,FKEUDXFKH$XV
NQIWHYRQ,KQHQ0HLQH3DUWQHULQ&DULOGD7RGD\ZXUGHYRQGHQ+LQWHUPlQQHUQGHU6DERWHXUH HQWIKUWXQGEHILQGHWVLFKLQ*HIDKU:XUGHQVHLWGHP=ZLVFKHQIDOOPLWGHU.RUYHWWHDXIGHP0DUV QHXH6DERWDJHDNWHYHUEW"© +\OOR 9UHHG VHW]WH VLFK XQG OHJWH GLH +lQGH DXI GHQ 6FKDOWWLVFK (NURQ 9DUPLQGV 6HLQH )LQJHU ]LWWHUWHQ ª%LWWHQHKPHQ6LH3ODW]0LVWHU%DUUDNXQ©VDJWHHUKHLVHUª,FKGDFKWH6LHN|QQWHQPLUKHOIHQ 6WDWWGHVVHQVFKHLQHQ6LHPHLQH+LOIH]XEUDXFKHQ*ODXEHQ6LHPLULFKZHLQLFKWPHKUZRPLU GHU .RSI VWHKW 0LVWHU 9DUPLQG KDWWH PLFK ]ZDU EHU GLH 6DERWDJHDQJHOHJHQKHLW LQIRUPLHUW PLU DEHU NHLQH JHQDXHQ $XVNQIWH JHJHEHQ 6HLW VLHE]HKQ 6WXQGHQ LVW HU ]XGHP XQDXIILQGEDU XQG LQ]ZLVFKHQZXUGHQGUHLZHLWHUH6DERWDJHDNWLRQHQYHUEW© 'HU%LOGVFKLUPHLQHV.RPPXQLNDWLRQVJHUlWVIODFNHUWHHLQODXWHV6XPPHQHUW|QWH +\OOR9UHHGEHXJWHVLFKEHUGHQ6FKDOWWLVFKXQGDNWLYLHUWHGDV*HUlW ª9UHHG©VDJWHHU ª5RERWNRQWUROOH3HUVRQDO+DXSWSRUWDO©VDJWHHLQHXQEHWHLOLJWNOLQJHQGH6WLPPHª,FKVROOWH6LH LQIRUPLHUHQVREDOG0LVWHU9DUPLQG,PSHULXP$OSKDEHWULWW'DVLVWXP8KU6WDQGDUG]HLW JHVFKHKHQ©'HU%LOGVFKLUPHUORVFKZLHGHU +\OOR9UHHGDWPHWHDXIGDQQEOLFNWHHUDXIGHQ6WUHLIHQGHU=HLWDQJDEHDP6FKDOWSXOW ª9RUHLQHUKDOEHQ0LQXWHDOVR0LVWHU%DUUDNXQLFKVFKODJHYRU6LHVSUHFKHQEHU,KU3UREOHP PLW0LVWHU9DUPLQG(UNDQQLKQHQHKHUKHOIHQDOVLFK© ª'DVGHQNHLFKDXFK©HUZLGHUWH.\URQ%DUUDNXQ (UVDK]XZLH+\OOR9UHHGLQVFKQHOOHU)ROJHPLWQHXQ]HKQ0LWDUEHLWHUQGHU6LFKHUKHLWVDEWHLOXQJ VSUDFK $QZHLVXQJHQ JDE XQG %HULFKWH HQWJHJHQQDKP XQG EHU VLHEHQ .RPPXQLNDWLRQVJHUlWH JOHLFK]HLWLJ HLQH %OLW]NRQIHUHQ] DEKLHOW 0LWOHLGLJ HUNDQQWH HU GDVV GHU 0DQQ Y|OOLJ EHUIRUGHUW ZDU $EHU DQVFKHLQHQG JDE HV QLFKW JHQXJ 7HUUDQHU GLH IU YHUDQWZRUWOLFKH 3RVLWLRQHQ LQ ,PSHULXP$OSKD DXVUHLFKHQGTXDOLIL]LHUWZDUHQXQGHVZUGHZRKO-DKUHGDXHUQELVDXVUHLFKHQG1DFKZXFKVNUlIWH DXVJHELOGHWZDUHQ $OOPlKOLFKDEHUZXUGHHUZLHGHUXQJHGXOGLJGHQQXP8KUZDU(NURQ9DUPLQGLPPHU QRFKQLFKWLQVHLQHP$UEHLWV]LPPHUDQJHNRPPHQREZRKOHUYRP3HUVRQDO+DXSWSRUWDOK|FKVWHQV ]HKQ0LQXWHQELV]XVHLQHU$EWHLOXQJEUDXFKHQGXUIWH+\OOR9UHHGVFKLHQGDVQLFKWDXI]XIDOOHQ(U KDWWHHLQIDFKNHLQH=HLWPHKUDQVHLQHQ9RUJHVHW]WHQ]XGHQNHQ $OV .\URQ VLFK HQGOLFK UlXVSHUWH XP DXI VLFK DXIPHUNVDP ]X PDFKHQ KHXOWH SO|W]OLFK LQ 9DUPLQGV$UEHLWV]LPPHUHLQH$ODUPVLUHQH +\OOR9UHHGIXKUKRFKDOVKlWWHLKQHLQH1DWWHUJHELVVHQ 'DV +HXOHQ GHU 6LUHQH HUVWDUE GDIU VDJWH HLQH /DXWVSUHFKHUVWLPPH ª$ODUP IU 6LFKHUKHLWVDEWHLOXQJ([SORVLRQLQ6HNWLRQ7%ODXKDWYHUPXWOLFK=XJDQJ]XP.RQIHUHQ]UDXPGHV .ULVHQVWDEV EORFNLHUW 0LWJOLHGHU GHV .ULVHQVWDEV VLQG ZHJHQ DEJHVFKQLWWHQHU /XIWYHUVRUJXQJ JHIlKUGHW© +\OOR9UHHGV*HVLFKWYHU]HUUWHVLFK]XHLQHUZHLQHUOLFKHQ*ULPDVVH ª0LVWHU9DUPLQG©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lFKH GHU ,QKDEHU HLQHU JUQHQ ,'.DUWH GLH DXVVFKOLHOLFKYRQGHUOXQDUHQ,QSRWURQLN1$7+$1DXVJHJHEHQZHUGHQNRQQWHEHVD3ULYLOHJLHQ XQG 9ROOPDFKWHQ GLH LKQ ZHLW EHU GLH 6WHOOXQJ HLQHV 1RUPDOEUJHUV KLQDXVVFKREHQ HU PXVVWH EHUHLWV *URHV IU GLH 0HQVFKKHLW JHOHLVWHW KDEHQ XQG YRQ LKP ZXUGH HUZDUWHW GDVV HU ZHLWHUH
JURH/HLVWXQJHQIUGLH0HQVFKKHLWHUEULQJHQZUGH XQGVDJWH ª.LG.RPSDJQRQDQ+DXSWSRVLWURQLN'ULQJHQGHU1RWIDOO:HJHQ$XVIDOOVGHU9HUDQWZRUWOLFKHQ GHU 6LFKHUKHLWVDEWHLOXQJ ,PSHULXP$OSKD EHUQHKPH LFK GLH 6WHXHUXQJ GHU 0DQDKPHQ ]XU %HUHLQLJXQJGHV1RWIDOOVLQ6HNWLRQ7%ODX,FKIRUGHUH%HVWlWLJXQJPHLQHU%HIHKOVJHZDOW© ª+DXSWSRVLWURQLN DQ .LG .RPSDJQRQ© DQWZRUWHWH HLQH DQJHQHKP PRGXOLHUWH 9RFRGHU VWLPPH ª)UDJH6LQG6LHLGHQWLVFKPLW.\URQ%DUUDNXQ"© ª)UDJHZLUGEHMDKW©HUNOlUWH.\URQª.\URQ%DUUDNXQLVW3VHXGRQ\P]XP=ZHFNHGHUEHUXIOLFK HUIRUGHUOLFKHQ7DUQXQJGHU,GHQWLWlW©,Q:LUNOLFKNHLWZDUHVJDQ]DQGHUVDEHU]XNRPSOL]LHUWXP HVGHU+DXSWSRVLWURQLNHUNOlUHQ]XN|QQHQRKQHGDVVVLH]HLWUDXEHQGH1DFKIRUVFKXQJHQDQVWHOOHQ ZUGH 1$7+$1 KDWWH GLH JUQH ,'.DUWH GHVKDOE DXI GHQ 1DPHQ .LG .RPSDJQRQ DXVJHVWHOOW ZHLO0DQLSXODWLRQHQYRQ9HUEUHFKHUQGLH'DWHQH[LVWHQ].\URQ%DUUDNXQVJHO|VFKWKDWWHQXQGGLH 1HXVSHLFKHUXQJ HLQHU QLFKW H[LVWLHUHQGHQ 3HUVRQ ]X .RPSOLNDWLRQHQ JHIKUW KlWWH GLH .\URQ GDPDOVQLFKWEHZlOWLJHQNRQQWH ª'DQNH© HUZLGHUWH GLH +DXSWSRVLWURQLN ª,KUH %HIHKOVJHZDOW ZLUG DXI GLH JHVDPWH 6LFKHUKHLWVDEWHLOXQJ DXVJHZHLWHW (QWVSUHFKHQGH ,QIRUPDWLRQHQ VLQG DOOHQ 0LWDUEHLWHUQ ]XJHJDQJHQ© (QWVSUHFKHQGVHLQHU0HQWDOLWlWNDP.\URQ%DUUDNXQJDUQLFKWDXIGHQ*HGDQNHQDQGHU6SLW]H HLQHV(LQVDW]WUXSSVSHUV|QOLFK]XU6HNWLRQ7%ODX]XJHKHQ(UKlWWHJDUQLFKWJHZXVVWZLHHUGHQ (LQVDW]GLUHNWGKRKQH=ZLVFKHQVFKDOWXQJHLQHV&RPSXWHUVOHLWHQVROOWH 6WDWW GHVVHQ VHW]WH HU $UEHLWVURERWHU HLQ GLH LQ HUVWHU /LQLH GLH 9HUVRUJXQJVOHLWXQJHQ ]XP .RQIHUHQ]UDXPGHV.ULVHQVWDEVLQVWDQGVHW]HQXQGLQ]ZHLWHU/LQLHGLH7UPPHUEHVHLWLJHQVROOWHQ GLHGHQ=XJDQJ]XP.RQIHUHQ]UDXPEORFNLHUWHQ =ZHL'ULWWHOGHVYHUIJEDUHQPHQVFKOLFKHQ3HUVRQDOVGHU6LFKHUKHLWVDEWHLOXQJVFKLFNWHHULQGLH QlKHUH XQG ZHLWHUH 8PJHEXQJ YRQ 6HNWRQ 7%ODX 6LH VROOWHQ GXUFK $EIUDJXQJ YRQ hEHUZDFKXQJVFRPSXWHUQ XQG %HIUDJXQJ YRQ 0LWDUEHLWHUQ ,PSHULXP$OSKDV VRZLH .RQWUROOH YRQ %HVXFKHUQGHQRGHUGLH3HUVRQHQHUPLWWHOQGLHGLH([SORVLRQDXVJHO|VWKDWWHQ (LQ 'ULWWHO GHU $EWHLOXQJ ZXUGH YRQ LKP ORVJHVFKLFNW XP QDFK (NURQ 9DUPLQG ]X VXFKHQ GHU VLFKMDLUJHQGZRLQ,PSHULXP$OSKDEHILQGHQPXVVWH $XHUGHP KLHOW .\URQ %DUUDNXQ VWlQGLJ 9HUELQGXQJ PLW GHQ .RQWUROOFRPSXWHUQ GHU (LQ XQG $XVJlQJH YRQ ,PSHULXP$OSKD GLH HU VHOEVWYHUVWlQGOLFK VRIRUW VSHUUHQ OLH -HGHU GHU YHUVXFKWH PLW/LVWRGHU*HZDOWKLQDXV]XJHODQJHQZUGHIHVWJHQRPPHQXQGYHUK|UWZHUGHQ ,QQHUKDOE YRQ ]ZDQ]LJ 0LQXWHQ ZDU GLH /XIWYHUVRUJXQJ GHV .RQIHUHQ]UDXPV ZLHGHUKHUJHVWHOOW 8QWHUGHVVHQKDWWH.\URQEHU)XQNPLW-XOLDQ7LIIORUVSUHFKHQN|QQHQXQGLKPYHUVLFKHUWGDVVGLH /DJHXQWHU.RQWUROOHVHLVRGDVVGLH%HVSUHFKXQJZHLWHUJHKHQNRQQWH $OV .\URQ VLFK QDFK GLHVHP *HVSUlFK LP 6HVVHO ]XUFNOHKQWH XQG GDUEHU QDFKGDFKWH RE GLH ([SORVLRQ LQ ,PSHULXP$OSKD ]X GHQ DQGHUHQ $WWHQWDWHQ JHK|UWH GHUHWZHJHQ HU YRQ (NURQ 9DUPLQGHQJDJLHUWZRUGHQZDUILHOVHLQ%OLFNDXIGHQ0DQQ 'HU 6LFKHUKHLWVEHDXIWUDJWH IU,PSHULXP$OSKDVWDQG LQ GHU RIIHQHQ 7U ]XP 1DFKEDUUDXP XQG VWDUUWH.\URQPLWVHOWVDPOHHUHP%OLFNDQ %HLGLHVHP$QEOLFNVFKO|VVHQVLFKGLHILHEHUKDIWHQ*HGDQNHQJlQJHLQ.\URQV*HKLUQ]XHLQHP 'HQNNUHLVGHUDXJHQEOLFNOLFKHLQHQLQWXLWLYHQKHXULVWLVFKHQ*HGDQNHQEOLW]HU]HXJWH 'LH 7DWVDFKH GDVV (NURQ 9DUPLQG ]X HLQHU =HLWLQ GHU HU HLJHQWOLFK GHQ (LQVDW] LQ 6HNWLRQ 7 %ODX OHLWHQ VROOWH PLW VHKU HUKHEOLFKHU 9HUVSlWXQJ LQ VHLQHP $UEHLWV]LPPHU HUVFKLHQ XQG RIIHQNXQGLJVRYHUZLUUWZDUGDVVHUDEVROXWQLFKWVEHJULIIOLHQXUHLQHHLQ]LJH(UNOlUXQJORJLVFK HUVFKHLQHQ (LQDQGHUHU0HQVFKKlWWHDQ.\URQ%DUUDNXQV6WHOOHDOOHUGLQJVY|OOLJDQGHUVUHDJLHUWDOV.\URQ HVVHLQHU0HQWDOLWlWHQWVSUHFKHQGWDW (U VWDQG DXIJLQJ]X(NURQ9DUPLQGOHJWHLKPHLQHQ$UPXPGLH6FKXOWHUQXQGIKUWHLKQ ]X HLQHP 6HVVHO QHEHQ GHP UXQGHQ %HVXFKHUWLVFK 'DQDFK WDVWHWH HU ]ZHL %HFKHU .DIIHH DP 9HUVRUJXQJVDXWRPDWHQXQGGUFNWH9DUPLQGHLQHQLQGLH+DQG ª7ULQNHQ6LH(NURQ©IRUGHUWHHULKQDXIª7ULQNHQ6LHGDVZLUG,KQHQJXWWXQ©
)DVWPHFKDQLVFKKRE(NURQ9DUPLQGGHQ%HFKHUXQGWUDQNLQNOHLQHQ6FKOXFNHQELVGHU%HFKHU JHOHHUWZDU .\URQGHUVHLQHQ.DIIHHLQ]ZLVFKHQDXFKJHWUXQNHQXQGVLFK9DUPLQGJHJHQEHUJHVHW]WKDWWH HUJULIIGLH+lQGHGHV6LFKHUKHLWVEHDXIWUDJWHQ ª%OHLEHQ6LHJDQ]UXKLJ(NURQ©VDJWHHUª6LHVLQGRIIHQEDUK\SQRWLVLHUWZRUGHQXQGKDEHQQXU JHWDQZDVPDQ,KQHQVXJJHULHUWH1LHPDQGNDQQ6LHDOVRGDIUYHUDQWZRUWOLFKPDFKHQ$EHU6LH N|QQHQ GD]X EHLWUDJHQ GLH 'UDKW]LHKHU GHU 6DERWDJHDNWH ]X IDVVHQ 9HUVXFKHQ 6LH VLFK ]X HULQQHUQZlKUHQGLFKPLFKXPHLQHQJXWHQ3V\FKRORJHQEHPKHQZHUGH© ,Q(NURQ9DUPLQGV%OLFNNHKUWHVRHWZDVZLH/HEHQ]XUFN ª(VJLEWNHLQH'UDKW]LHKHU.\URQ©HUNOlUWHHUWRQORVª,FKKDEHGLH%RPEHDXVHLJHQHP$QWULHE JHOHJWXQGJH]QGHWGHQQLFKZROOWHGDGXUFKHLQ=HLFKHQVHW]HQ© ª$EHU(NURQ©PDKQWH.\URQª:DVGHQQIUHLQ=HLFKHQ"© %HYRU (NURQ 9DUPLQG DQWZRUWHQ NRQQWH VXPPWH HLQHV GHU .RPPXQLNDWLRQVJHUlWH .\URQ VFKDOWHWHHVHLQ ª/\NKRU© PHOGHWH VLFK HLQ $QJHVWHOOWHU GHU 6LFKHUKHLWVDEWHLOXQJ ª,FK VSUHFKH YRQ 6HNWLRQ ' *UQ DXV 0LVWHU 1RUDNJ XQG LFK KDEHQ GHQ $WWHQWlWHU IHVWJHQRPPHQ (V KDQGHOW VLFK XP HLQHQ 6SULQJHU3DWULDUFKHQQDPHQV*RQ]XV© ª,VWHUJHVWlQGLJ"©IUDJWH.\URQ ª(U VWUHLWHW HV QDWUOLFK DE© HUZLGHUWH /\NKRU ª$EHU ZLU KDEHQ EHL LKP HLQH HOHNWURQLVFKH .DPHUDHQWGHFNWLQGHUGLH7HLOHHLQHUNOHLQHQ6WUDKOZDIIHLQWHJULHUWZDUHQ© ª'DQQKDOWHWLKQDXIMHGHQ)DOOIHVW©VDJWH.\URQ (UVFKDOWHWHDEXQGZDQGWHVLFKZLHGHUDQ(NURQ9DUPLQG ª:DUHV*RQ]XVGHU6LHGD]XEUDFKWH6DERWDJH]XYHUEHQ"© 9DUPLQGVFKWWHOWHKHIWLJGHQ.RSI ,Q GLHVHP $XJHQEOLFN VWUPWH -XOLDQ 7LIIORU LQ 9DUPLQGV $UEHLWV]LPPHU VHLQH ILQVWHUH 0LHQH HUKHOOWHVLFKDOVHU(NURQ9DUPLQGHUEOLFNWH ª'D VLQG 6LH MD (NURQ© ULHI HU HUOHLFKWHUW ª,FK IUFKWHWH VFKRQ 6LH ZlUHQ EHL GHU ([SORVLRQ XPJHNRPPHQ ZHLO MHPDQG VLH NXU] YRUKHU JDQ] LQ GHU 1lKH GHV ([SORVLRQVRUWV JHVHKHQ KDEHQ ZROOWH© ª(UKDWGLH%RPEHJHOHJWXQGJH]QGHW7LII©HUNOlUWH.\URQ%DUUDNXQ 7LIIORUODFKWH ª(UKDWGLH%RPEHJHOHJWXQG©6HLQH$XJHQZHLWHWHQVLFKª6ROOGDVHLQVFKOHFKWHU6FKHU]VHLQ .LG"© ª(V LVW NHLQ 6FKHU]© HUNOlUWH (NURQ 9DUPLQG PLW GXPSIHU 6WLPPH ª,FK KDEH GLH ([SORVLRQ KHUEHLJHIKUWXPHLQ=HLFKHQ]XVHW]HQ© -XOLDQ7LIIORUZXUGHEODVDEHUHUUHDJLHUWHQLFKWEHUVWU]WVRQGHUQGDFKWHDQJHVWUHQJWQDFKZLH VHLQHP*HVLFKWDQ]XVHKHQZDU 1DFKHLQHUKDOEHQ0LQXWHVHW]WHHUVLFKLQGHQIUHLHQ6HVVHODP%HVXFKHUWLVFK ª'XKDVWPLWLKP.DIIHHJHWUXQNHQDOVGXVFKRQZXVVWHVWGDVVHU© .\URQQLFNWH ª,FKELQGDYRQEHU]HXJWGDVV(NURQXQWHUK\SQRVXJJHVWLYHP(LQIOXKDQGHOWHXQGGDVVHUQRFK LPPHUXQWHUGLHVHP(LQIOXVWHKW7LII(ULVWDOVRIUGLH6DERWDJHQLFKWYHUDQWZRUWOLFK© -XOLDQ7LIIORUJLQJ]XP,QWHUNRPVFKDOWHWHLKQHLQXQGVDJWH ª3URIHVVRU6FKLQMDQJVROO]XP$UEHLWV]LPPHU(NURQ9DUPLQGVNRPPHQ$EHUVFKQHOOELWWH© (UVHW]WHVLFKZLHGHU ª6LH ZHUGHQ DOOH +LOIH EHNRPPHQ GLH 6LH EUDXFKHQ (NURQ 9HUVXFKHQ 6LH ELV GDKLQ VLFK ]X HULQQHUQ:RZDUHQ6LHEHYRU6LH,PSHULXP$OSKDEHWUDWHQ"© ª,QPHLQHU:RKQXQJ©DQWZRUWHWH9DUPLQG ª'DV NDQQ QLFKW VWLPPHQ© ZDUI .\URQHLQª,KU6WHOOYHUWUHWHU HUNOlUWH PLU6LHZlUHQVLHE]HKQ 6WXQGHQODQJXQDXIILQGEDUJHZHVHQ'DVZUGHHUQLFKWEHKDXSWHWKDEHQZHQQHUQLFKWYHUJHEOLFK YHUVXFKWKlWWH6LHLQ,KUHU:RKQXQJ]XHUUHLFKHQ$OVR"©
ª(VVSLHOWNHLQH5ROOH©HUNOlUWH(NURQ9DUPLQG ª:DVIUHLQ=HLFKHQZROOWHQ6LHVHW]HQ"©IUDJWH.\URQ ª(LQ =HLFKHQ GDIU GDVV GLH /)7 GHQ $QDFKURQLVPXV GHU ,PSHULXP$OSKD JHQDQQW ZLUG DXIJHEHQVROO1XUGDQQZLUGLKUH)ULHGHQVOLHEHJODXEKDIWZLUNHQ© ª9HUUFNW©HQWIXKUHV7LIIORU ª:HULVWYHUUFNW"©IUDJWHHLQHWZDKXQGHUWGUHLLJMlKULJHUVFKODQNHU0DQQPLWIDOWLJHP*HVLFKW XQGVFKWWHUHPVFKORKZHLHQ+DDUGHUVRHEHQGDV$UEHLWV]LPPHUEHWUDW 7LIIORUHUKREVLFK ª.\URQ %DUUDNXQ 3URIHVVRU 5XUG\ 6FKLQMDQJ© VWHOOWH HU YRU ª0LVWHU 9DUPLQG NHQQHQ 6LH MD 3URIHVVRU© 6FKLQMDQJQLFNWHXQGPXVWHUWH(NURQ9DUPLQG ª,FK HUNHQQH 7URW] LQ ,KUHQ $XJHQ 0LVWHU 9DUPLQG© VDJWH HU QDFK HLQHU :HLOH ª'LHVHU 7URW] VWHOOW HLQH 6SHUUH GDU GLH HV ,KQHQ YHUZHKUW GLH :DKUKHLW ]X HUNHQQHQ© (U VHW]WH VLFK 9DUPLQG JHJHQEHUª6LHZXUGHQDQGHU5RGGHQEHUU\$FDGHP\DXI*lDDXVJHELOGHW:HOFKHU6SUXFKVWDQG EHUGHP+DXSWWRUGHU$FDGHP\"© ª/HEHQLVW+RIIQXQJ,QWHOOLJHQ]LVW9HUSIOLFKWXQJ©DQWZRUWHWH(NURQ9DUPLQG ª9HUSIOLFKWXQJZR]X"©IUDJWH6FKLQMDQJJOHLFKEOHLEHQGIUHXQGOLFK ª=X)ULHGHQXQG7ROHUDQ]JHJHQEHUDQGHUHQ,QWHOOLJHQ]HQ]XP6WUHEHQQDFK(UNHQQWQLVVHQXQG QDFKHLQHPNRRSHUDWLYHQ0LWHLQDQGHUDOOHU=LYLOLVDWLRQHQ©VDJWH9DUPLQG ª8QG6LHHUNHQQHQGLHVH9HUSIOLFKWXQJIUVLFKVHOEVWDQ"© ª9ROOVWlQGLJ©HUNOlUWH9DUPLQGDEHUVHLQH6HOEVWVLFKHUKHLWZDUEU|FNHOLJJHZRUGHQ 3URIHVVRU6FKLQMDQJQLFNWH ª'HPQDFK GLHQWH HV GHP )ULHGHQ XQG GHU 7ROHUDQ] LQ ,PSHULXP$OSKD HLQH ([SORVLRQ KHUYRU]XUXIHQXQGGDPLWGHQ7RGXQGGLH9HUVWPPHOXQJDQGHUHULQWHOOLJHQWHU/HEHZHVHQLQ.DXI ]XQHKPHQ0LVWHU9DUPLQG"© ª,FKZROOWHHLQ=HLFKHQVHW]HQ©HUZLGHUWH9DUPLQGVW|UULVFK ª6WHOOHQ6LHVLFKGRFKHLQPDOYRU6LHZUGHQHLQHQ &RPSXWHU EHQXW]HQ XP ,KUH HLJHQH +DQGOXQJVZHLVH PLW GHP /HLWVSUXFK GHU 5RGGHQEHUU\ $FDGHP\ LQ hEHUHLQVWLPPXQJ ]X EULQJHQ© ZDUI .\URQ %DUUDNXQ HLQ ª:HOFKH HWKLVFKHQ :HUWH PVVWHQ6LHGDQQDElQGHUQXPGDVJHZQVFKWH(UJHEQLV]XHUUHLFKHQ"© ª$EHU 0LVWHU %DUUDNXQ© ULHI 6FKLQMDQJ ª:DV KDW HLQ &RPSXWHU PLW PHQVFKOLFKHU 3V\FKH ]X WXQ"8QGGDPLW© ª,FKZUGHGLHJUDSKLVFKH(LQJDEHEHU-R\VWLFNVDQZHQGHQZLHHV&KHUU\.RQWURQLPYRULJHQ -DKUKXQGHUWYRUVFKOXJ©VDJWH(NURQ9DUPLQGRKQHGHV3URIHVVRUV(LQZDQG]XEHDFKWHQ .\URQ UXQ]HOWH QDFKGHQNOLFK GLH 6WLUQ (WZDV LQ 9DUPLQGV $QWZRUW KDWWH LKQ VWXW]LJ JHPDFKW DEHUHUNDPQLFKWGDUDXIZDVHVJHZHVHQVHLQN|QQWH ª'DQQ PVVWHQ 6LH DEHU ]XYRU HLQ 3URJUDPP LQLQYHUWLHUWHQ6LHEHQ6HJPHQW.RGH DQZHQGHQ© HUNOlUWHHUDEVLFKWOLFKIDOVFKXPGLH.ODUKHLWYRQ9DUPLQGV'HQNHQ]XSUIHQ (NURQ9DUPLQGOlFKHOWHYHUlFKWOLFK ª)DOVFK.\URQ,FKZUGHGDPLWQXUHLQH(VHOHL]XVWDQGHEULQJHQ1HLQLFKZUGHLQGLHVHP)DOO GHQKH[DGH]LPDOHQ.RGHDQZHQGHQ© ª'DPLW OLHH VLFK WDWVlFKOLFK GHU JHZQVFKWH =ZHFN HUUHLFKHQ© PHLQWH .\URQ QRFK QDFKGHQNOLFKHU ª,FKZHLQLFKWZDVGDVVROO0LVWHU%DUUDNXQ©SURWHVWLHUWH3URIHVVRU6FKLQMDQJª:HUYRQXQV EHLGHQLVWGHQQQXQGHU3V\FKRORJH"© ª6LH3URIHVVRU©DQWZRUWHWH.\URQª,FKZHLVHOEVWQLFKWUHFKWZDVLFK]XHUUHLFKHQKRIIWHDEHU LFK ZROOWH YHUVXFKHQ HLQH 0HWKRGH ]X ILQGHQ PLW GHU VLFK HWZDV EHU PHLQH 3DUWQHULQ HUIDKUHQ OlVVW© ª&DULOGD"©IUDJWH-XOLDQ7LIIORU .\URQQLFNWH ª6LHZXUGHYRQGHQ+LQWHUPlQQHUQGHU6DERWHXUHHQWIKUWZHLOVLHLKQHQDXIGLH6SXUJHNRPPHQ
ZDU$QVFKHLQHQGLVWHLQELVKHUXQEHNDQQWHU0XWDQWLP 6SLHORGHUMHPDQGGHUPLWJHZDOWLJHPWHFKQLVFKHP$XIZDQGDQGHUH3HUVRQHQIHUQK\SQRWLVLHUW XQGLKQHQ%HIHKOHVXJJHULHUWGLHVLHEHGLQJXQJVORVEHIROJHQ© ª&DULOGDLVWYHUVFKZXQGHQ"©IUDJWH(NURQ9DUPLQGPLWSO|W]OLFKKHOOZDFKHP,QWHUHVVH ª6LH ZXUGH JHNLGQDSSW© ULHI .\URQ ª8QG ]ZDU YRQ GHQ /HXWHQ GLH 6LH DOV :HUN]HXJ PLVVEUDXFKWHQ:DUXPYHUVXFKHQ6LHQLFKWXQV]XKHOIHQGDPLWZLUGLHVH9HUEUHFKHUILQGHQXQG &DULOGDUHWWHQN|QQHQ"© 9DUPLQGEOLFNWHLKQJHTXlOWDQ ª.\URQ LFK ZUGH DOOHV WXQ XP &DULOGD ]X KHOIHQ DEHU LFK ZHL QLFKWV 1LHPDQG KDW PLFK EHHLQIOXW'DVKlWWHLFKGRFKJHPHUNW© ª$EHU ZDUXP KDEHQ 6LH GDQQ GLH ([SORVLRQ KHUYRUJHUXIHQ DXVJHUHFKQHW 6LH GHU IU GLH 6LFKHUKHLWYRQ,PSHULXP$OSKDYHUDQWZRUWOLFKVHLQVROOWH"©IUDJWH7LIIORU ª,FKZROOWHHLQ=HLFKHQVHW]HQ©HUZLGHUWH9DUPLQGOHLVH ª6LHVLQGKRFKLQWHOOLJHQW0LVWHU9DUPLQG©HUNOlUWH6FKLQMDQJHLQGULQJOLFKª'HVKDOEKDEHQ6LH HEHQ JHPHUNW ZLH OlFKHUOLFK ,KUH %HJUQGXQJ NOLQJW 6LH JODXEHQ QLFKW PHKU ]X ZLVVHQ ,Q :LUNOLFKNHLW DEHU HULQQHUQ 6LH VLFK QXU QLFKW DQ PHKU .RPPHQ 6LH PLW LQ PHLQH $EWHLOXQJ GHV +RVSLWDOV,FKZHUGH,KQHQKHOIHQ,KUH(ULQQHUXQJ]XUFN]XKROHQ© (U VWUHFNWH GLH +DQG DXV XQG (NURQ 9DUPLQG HUKRE VLFK XQG IDVVWH VLH DQ *HKRUVDP ZLH HLQ NOHLQHV.LQGOLHHUVLFKDXVGHP5DXPIKUHQ (UVFKWWHUWEOLFNWH-XOLDQ7LIIORULKPQDFK ª(U ZDU HLQHU PHLQHU IlKLJVWHQ XQG ]XYHUOlVVLJVWHQ 0LWDUEHLWHU© VDJWH HU OHLVH ª.\URQ GLHVH 9HUEUHFKHU PVVHQ JHIDVVW ZHUGHQ :HQQ ZLU JDQ] 7HUUDQLD &LW\ DXI GHQ .RSI VWHOOHQ XQG DOOH 9HUGlFKWLJHQYHUK|UHQ© ª(V JLEW NHLQH $QKDOWVSXQNWH DXI HLQHQ EHVWLPPWHQ 3HUVRQHQNUHLV XQG GDPLW DXFK NHLQH DXI 9HUGlFKWLJH 7LII©XQWHUEUDFK.\URQLKQª0LW*HZDOWLVWVRZLHVRQLFKWV]XHUUHLFKHQ+LHUKLOIWQXULQWHQVLYHV 1DFKGHQNHQ© ª0LW+LOIHGHV&RPSXWHUV©HUJlQ]WH7LIIORUPLWGHP6DUNDVPXVGHV+LOIORVHQ ª,FK GHQNH MD© PHLQWH .\URQ %DUUDNXQ (U ZLUNWH SO|W]OLFK VHOWVDP ]HUVWUHXW ZDV 7LIIORU DEHU QLFKWDXIILHOGDHUHLQLJHVDQXQJHZ|KQOLFKHP%HQHKPHQYRQ.\URQJHZ|KQWZDUª'DUILFKMHW]W JHKHQ7LII"© ª6HOEVWYHUVWlQGOLFK.LG©DQWZRUWHWH7LIIORUª2KXQGYLHOHQ'DQNGDVVGXIU+\OOR9UHHGXQG (NURQ 9DUPLQG HLQJHVSUXQJHQ ELVW (LJHQWOLFK ZDUVW GX DOV 6LFKHUKHLWVEHDXIWUDJWHU IU ,PSHULXP $OSKDVRJDUJURDUWLJ© .\URQZDUEHUHLWVELV]XU7UJHNRPPHQ%HLGHQOHW]WHQ:RUWHQ7LIIORUVVWXW]WHHUGDQQNHKUWH HU]XP6FKDOWSXOW]XUFN ª6R JURDUWLJ GDVV LFK JDQ] YHUJHVVHQ KDWWH PHLQHQ %HIHKO ]XU 6SHUUXQJ DOOHU $XVJlQJH ]XUFN]XQHKPHQ7LII©HUNOlUWHHU %HIUHPGHWVWHOOWH.\URQ%DUUDNXQQDFKVHLQHU5FNNHKU]XP+DXVH'ROHQF3ODFHOIHVWGDVVVLFK QLHPDQG LQ GHQ %URUlXPHQ EHIDQG (DUQ\ KDWWH DXFK NHLQH 1DFKULFKW KLQWHUODVVHQ ZRKLQ HU JHJDQJHQZDU .\URQ VHW]WH VLFK LQ GHQ 6HVVHO KLQWHU VHLQHP 6FKDOWWLVFK (U IKOWH VLFK XQEHKDJOLFK DEHU HUVW QDFKHLQLJHU=HLWEHJULIIHUGDVVHUVLFKXQEHKDJOLFKIKOWHZHLOHUDOOHLQZDU'DVZDUHLQHJDQ] QHXH(UIDKUXQJIULKQGHQQELVKHUKDWWHHUVLFKVWHWVDPEHVWHQJHIKOWZHQQHUDOOHLQZDUGDGLH *HJHQZDUWDQGHUHU0HQVFKHQLKQYHUXQVLFKHUWH 1DFK HLQHU :HLOH VFKDOWHWH .\URQ VHLQHQ &RPSXWHU HLQ XQG WDVWHWH HLQH $EVSLHOXQJ GHU
%DXDQOHLWXQJGLH GHP %DXVDW] IU HLQHQ (LJHQEDX5RERWHU EHLJHIJW JHZHVHQ ZDU GHQ .\URQ GDPDOV YRP *DODNWLVFKHQ+REE\9HUVDQG$U]DFKHQD &REH]RJHQKDWWH'DGLH%DXDQOHLWXQJVLFKDXIHLQHU ]ZDQ]LJ =HQWLPHWHU EUHLWHQ XQG IQI 0HWHU ODQJHQ GLFKWEHGUXFNWHQ )ROLH EHIXQGHQ KDWWH XQG GHVKDOE XQEHUVLFKWOLFK XQG XPVWlQGOLFK ]X OHVHQ ZDU KDWWH &DULOGD VLH LQ HLQHQ 0LNURFRPSXWHU HLQJHVSHLFKHUW .\URQ KDWWH VLFK DOOHUGLQJV QLFKW QDFK GHQ $QJDEHQ JHULFKWHW GD GHU %DXVDW] VLFK DOV XQYROOVWlQGLJHUZLHVXQGHUDXHUGHPVLFKHUZDUPLWVHLQHQ.HQQWQLVVHQEHU&RPSXWHUDXFKRKQH %DXDQOHLWXQJDXV]XNRPPHQ (UKDWWHHVWDWVlFKOLFKJHVFKDIIWDEHUGLHVPDOEHUOHJWHHURELKPQLFKWGRFKHLQ)HKOHUEHLGHU 0RQWDJH XQWHUODXIHQ ZDU (DUQ\ KDWWH VFKRQ PHKUIDFK VHOWVDPH +DQGOXQJVZHLVHQ JH]HLJW DEHU GDVV HU GLHVPDO YHUVFKZXQGHQ ZDU RKQH HLQH 0LWWHLOXQJ ]X KLQWHUODVVHQ REZRKO HU GRFK HLQHQ JDQ] EHVWLPPWHQ $XIWUDJ EHNRPPHQ KDWWH HUVFKLHQ .\URQ QLFKW PHKU QXU VHOWVDP VRQGHUQ IHKOHUKDIW .RQ]HQWULHUWODVHUGLH$QOHLWXQJHQIUGLHHLQ]HOQHQ0RQWDJHSKDVHQ$OVHU]XGHQ]DKOUHLFKHQ 9RUVFKOlJHQ IU GLH (LQJDEH YRQ 3URJUDPPHQ DQ GLH 3RVLWURQLN GHV 6HOEVWEDX5RERWHUV NDP VWROSHUWH HU EHU GLH (PSIHKOXQJ VLFK ZLGHUVSUHFKHQGH 3URJUDPPH LQ hEHUHLQVWLPPXQJ ]X EULQJHQLQGHPHLQHVLPXOWDQHJUDSKLVFKH(LQJDEHEHU-R\VWLFNVYRUJHQRPPHQZXUGH :DV KDWWH (NURQ 9DUPLQG DXI GLH )UDJH JHDQWZRUWHW ZLH HU GLH HWKLVFKHQ %DVLVZHUWH HLQHV &RPSXWHUV DElQGHUQ ZUGH XP HLQH hEHUHLQVWLPPXQJ GHU HLJHQHQ +DQGOXQJVZHLVH PLW GHP /HLWVSUXFKGHU5RGGHQEHUU\$FDGHP\]XHUUHLFKHQ" (U ZUGH GLH JUDSKLVFKH (LQJDEH EHU -R\VWLFNV DQZHQGHQ ZLH HV &KHUU\ .RQWURQ LP YRULJHQ -DKUKXQGHUWYRUVFKOXJ :LHZDU(NURQ9DUPLQGHLQ0DQQGHUDXIGHU5RG GHQEHUU\ $FDGHP\ DXVJHELOGHW ZRUGHQ ZDU DXI GLHVH 0HWKRGH JHNRPPHQ" 6LH ZDU Y|OOLJ YHUDOWHW XQG VLH ZDU QLFKW LP YRULJHQ -DKUKXQGHUW YRQ &KHUU\ .RQWURQ YRUJHVFKODJHQ ZRUGHQ VRQGHUQYRUVHFKVKXQGHUW-DKUHQLQGHP-DKUKXQGHUWLQGHP&KHUU\.RQWURQJHVWRUEHQZDU .HLQ 0HQVFK GHU EHU PRGHUQHV &RPSXWHUIDFKZLVVHQ YHUIJWH ZUGH GLH $QZHQGXQJ HLQHU VROFKHQXPVWlQGOLFKHQ0HWKRGHKHXW]XWDJHHPSIHKOHQ $XHU GHP 0HQVFKHQ GHU GLH %DXDQOHLWXQJ IU GHQ 6HOEVWEDX%LOOLJ5RERWHU GHU )LUPD $U]DFKHQD &RHQWZRUIHQKDWWH 'RFKZRKHUZXVVWH(NURQ9DUPLQGGDYRQ" .\URQ %DUUDNXQ VSUDQJ DXI YHUOLH VHLQ %UR XQG IXKU PLW GHP /LIW ]X VHLQHP LP 3DUNGHFN DEJHVWHOOWHQ *OHLWHU (U ZXVVWH SO|W]OLFK ZDV LKQ EHL GHP *HVSUlFK PLW 9DUPLQG VWXW]LJ XQG QDFKGHQNOLFK JHPDFKW KDWWH (V ZDU GLH 'LVNUHSDQ] ]ZLVFKHQ GHU HUZRJHQHQ $QZHQGXQJ HLQHU WRWDO YHUDOWHWHQ 0HWKRGH GHU &RPSXWHUWHFKQLN XQG GHU $EOHKQXQJ HLQHU HEHQIDOOV YHUDOWHWHQ 0HWKRGH]XJXQVWHQHLQHUGLHHUVWLQGLHVHP-DKUKXQGHUWHQWZLFNHOWZRUGHQZDU 'HU 8QWHUVFKLHG ]ZLVFKHQ GHQ EHLGHQ YHUDOWHWHQ 0HWKRGHQ EHVWDQG KLQVLFKWOLFK 9DUPLQG QXU GDULQGDVVGLHGLHHUDEJHOHKQWKDWWHQLFKWLQGHU$U]DFKHQD%DXDQOHLWXQJHUZlKQWZXUGHXQGGDVV GLHGLHHU]XUHLJHQHQ$QZHQGXQJHUZRJHQKDWWHLQGHU$U]DFKHQD%DXDQOHLWXQJVWDQG (LJHQWOLFK OLH VLFK QXU HLQ ORJLVFKHU 6FKOXVV GDUDXV ]LHKHQ (NURQ 9DUPLQG KDWWH VLFK LQWHQVLY PLW GHU %DXDQOHLWXQJ IU HLQHQ 6HOEVWEDX5RERWHU GHV +REE\9HUVDQGV $U]DFKHQD &R EHVFKlIWLJW 8QGZHUZUGHGDVVFKRQWXQZHQQHUQLFKWVHOEVWHLQHQVROFKHQ5RERWHUEDXHQZROOWH" 'HQQRFK ZXVVWH .\URQ %DUUDNXQ VHOEVW QRFK QLFKW ZDV HU HLJHQWOLFK ]X HUIDKUHQ KRIIWH DOV HU EHU)XQN ,PSHULXP$OSKDDQULHIXQGVLFKGLH3ULYDWDGUHVVHYRQ(NURQ9DUPLQGJHEHQOLH ª*UXHOILQ5RDGGUHLKXQGHUWVHFK]HKQ©VDJWHHU]XP&RPSXWHUGHV'2*(521QDFKGHPHU GLH$GUHVVHHUKDOWHQKDWWH ª0LVVLRQEHVWlWLJW©HUZLGHUWHGLHPHORGLVFKH6WLPPHDXVGHPVFKPDOHQ/DXWVSUHFKHUJLWWHUGHV .RQWUROOSDQHHOVª'HU6HUYLFHVWHKW]X,KUHQ'LHQVWHQ0LVWHU%DUUDNXQ©
.\URQ ZXQGHUWH VLFK QLFKW GDUEHU GDVV GHU &RPSXWHU LKQ HUNDQQW KDWWH (V ZDU VHOEVWYHUVWlQGOLFKIUGLHWHUUDQLVFKH=LYLOLVDWLRQGHV-DKUKXQGHUWVGDVV)DKU]HXJFRPSXWHUGLH 6WLPPDEGUFNH LKUHU %HQXW]HU VSHLFKHUWHQ XQG VLH GDUDQ ZLHGHUHUNDQQWHQ (UJlQ]W ZXUGH GLH ,GHQWLILNDWLRQGXUFKGLHRSWLVFKH%HREDFKWXQJPLWWHOV7HOHDXJHQ ª'LHOHW]WHQ1DFKULFKWHQ©VDJWH.\URQ :lKUHQGGHU*OHLWHUDQVFKZHEWHVLFKLQGDV.UDIWIHOGGHV)DKU]HXJOLIWVVFKREXQGNXU]GDQDFK YRQ GHU 'DFKSODWWIRUP VWDUWHWH HUVFKLHQHQ DXI GHP %LOGVFKLUP GHV &RPSXWHU7HUPLQDOV GLH QHXHVWHQ0HOGXQJHQGHU1DFKULFKWHQPHGLHQ 3O|W]OLFK YHUVFKZDQG GHU OHW]WH 7H[W YRP %LOGVFKLUP XQG PDFKWH GHP $EELOG -XOLDQ 7LIIORUV 3ODW] ª%UJHULQQHQXQG%UJHUGHU/LJD)UHLHU7HUUDQHU©VDJWH7LIIORUPLWHUQVWHU6WLPPHXQG0LHQH ª(LQH 2UELWHUIORWWH YRQ IQIXQG]ZDQ]LJWDXVHQG .HLOVFKLIIHQ LVW LQV 6ROV\VWHP HLQJHIORJHQ 'HU .RPPDQGHXUGLHVHU)ORWWHGHUVLFK4XLU\OHLQHQQHQQWKDWXQVDXIJHIRUGHUWDXVGLHVHU*DOD[LV]X YHUVFKZLQGHQ 'LH 2UELWHU KDOWHQ XQV IU *DUEHVFKLDQHU 1XU GHVKDOE QHKPHQ VLH XQV JHJHQEHU HLQHGURKHQGH+DOWXQJHLQ ,Q :LUNOLFKNHLW ZXUGHQ VLH JHVFKDIIHQ XP GLH =LYLOLVDWLRQ XQVHUHU *DOD[LV YRU ,QYDVRUHQ ]X EHVFKW]HQ 6LH VLQG DOVR XQVHUH )UHXQGH QXU ZLVVHQ VLH HV QRFK QLFKW (V NDQQ GHVKDOE QLFKW LQ XQVHUHP,QWHUHVVHOLHJHQVLH]XEHNlPSIHQ9LHOPHKUPVVHQZLUJHGXOGLJ YHUVXFKHQVLHGDYRQ]XEHU]HXJHQGDVVVLHHLQHP,UUWXPDXIJHVHVVHQVLQG ,FK IRUGHUH GHVKDOE DOOH 0HQVFKHQ LP 6ROV\VWHP EHVRQGHUV DEHU GLH %HVDW]XQJHQ DOOHU LP 6ROV\VWHP EHILQGOLFKHQ 5DXPVFKLIIH DXI 5XKH XQG %HVRQQHQKHLW ]X EHZDKUHQ :LU ZLVVHQ DXV (UIDKUXQJ GDVV GLH 2UELWHU QLHPDQGHQ HUQVWKDIW EHGURKHQ GHU QLFKW YRQ VLFK DXV GLH )HLQGVHOLJNHLWHQHU|IIQHW:HUGHQVLHMHGRFKHUQVWOLFKDQJHJULIIHQVFKODJHQVLH]XUFN (V NRPPW DOVR GDUDXI DQ GLH 2UELWHU QLFKW GXUFK VLQQORVH $QJULIIH KHUDXV]XIRUGHUQ 'LH /)7 5HJLHUXQJZLUGGHQ.RQWDNWPLW4XLU\OHLQHQVXFKHQXQGPLWLKPYHUKDQGHOQ*OHLFK]HLWLJEHUHLWHW VLFKHLQJHPLVFKWHU9HUEDQGDXV6FKLIIHQGHU/)7XQGGHU*$9g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© 7LIIORUV $EELOG YHUVFKZDQG (UQHXW HUVFKLHQHQ 1DFKULFKWHQWH[WH 6LH LQWHUHVVLHUWHQ .\URQ %DUUDNXQMHGRFKQLFKWPHKU'LHDOWH$QJVWEUDFKZLHGHUGXUFKGLHLKQHUVWPDOVEHUIDOOHQKDWWH DOV GLH 6LHGOHU GHV 3ODQHWHQ %DUUDNXQ QDFK GHP (QGH GHU .RQ]LOVKHUUVFKDIW GDV ODULVFKH &RPSXWHUVFKLIIGDVGRUWVWDWLRQLHUWZDUEHUILHOHQXQGPXWZLOOLJ]HUVW|UWHQ 6LHªEHIUHLWHQ©LKQZLHVLHGDFKWHQ,Q:LUNOLFKNHLW]HUVW|UWHQVLHGDVZDVIULKQ0XWWHU9DWHU XQG+HLPDWJHZHVHQZDU'LH=HLWGDQDFKZDUJUDXHQKDIWIU .\URQ JHZHVHQ 'HP 3V\FKRORJHQ HLQHV 6DPPOHUVFKLIIV ZDU HV VFKOLHOLFK JHOXQJHQ LKQ ]XP hEHUVLHGHOQDXI7HUUD]XEHZHJHQ (V KDWWH ODQJH JHGDXHUW ELV HU VLFK DXI GHU (UGH KHLPLVFK JHIKOW KDWWH XQG QXQ VFKLHQ DXFK GLHVHQHXH+HLPDWYHUORUHQ]XJHKHQ .\URQV )LQJHU ]LWWHUWHQ VR VHKU GDVV HU GLH 6HLWHQOHKQHQ VHLQHV 6LW]HV PLW DOOHU .UDIW XPNODPPHUWH6FKZHLEUDFKLKPDPJDQ]HQ.|USHUDXV (UPHUNWHHUVWGDVVGHU*OHLWHUVHLQ=LHOHUUHLFKWKDWWHDOVGHU&RPSXWHUVDJWH ª0LVVLRQ EHHQGHW 0LVWHU %DUUDNXQ :LU EHILQGHQ XQV DXI GHU /DQGHSODWWIRUP GHV +DXVHV *UXHOILQ5RDGGUHLKXQGHUWVHFK]HKQ,FKHUZDUWH,KUHZHLWHUHQ$QZHLVXQJHQ©
6HNXQGHQODQJZXVVWH.\URQJDUQLFKWPHKUZDVHUHLJHQWOLFKKLHUJHZROOWKDWWH'RFKDOOPlKOLFK NHKUWHQ GLH (ULQQHUXQJHQ ]XUFN XQG HU ZXVVWH GDVV HU NHLQ 5HFKW EHVD VLFK LQ VLFK VHOEVW ]XUFN]X]LHKHQZlKUHQGGLH6LFKHUKHLWVHLQHUQHXHQ+HLPDWDXFKGXUFKGLH6DERWDJHDNWHEHGURKW ZDU 8QGDXFK&DULOGDEHIDQGVLFKQRFKLQ*HIDKU 'DVJDEGHQ$XVVFKODJ ª:DUWHKLHUDXIPLFK©EHIDKOHUGHP&RPSXWHUGHV*OHLWHUV (U ZLVFKWH VLFK GHQ 6FKZHL DXV GHP *HVLFKW VWLHJ DXV XQG JLQJ ]XP QlFKVWHQ /LIWVFKDFKW (NURQ 9DUPLQGV :RKQXQJ EHIDQG VLFK LQ GHU ]ZHLXQG]ZDQ]LJVWHQ (WDJH GHV GUHLLJVW|FNLJHQ +DXVHV .\URQ VDK GDVV GLH 6WHOOH GHU 7U XQWHU GHU VLFK GLH HOHNWURQLVFKH 6FKOLH XQG gIIQXQJVDXWRPDWLN EHIDQG YRQ HLQHP PQ]HQJURHQ 6LHJHO PLW GHP HLQJHSUlJWHQ 6\PERO GHV VWlGWLVFKHQ 2UGQXQJVGLHQVWHV EHGHFNW ZDU 'DV 6LHJHO KDWWH DOOHUGLQJV QLFKW QXU V\PEROKDIWHQ &KDUDNWHUVRQGHUQEORFNLHUWHPLWVHLQHU,PSXOVVWUDKOXQJGLHgIIQXQJVDXWRPDWLN 'DVVW|UWH.\URQDOOHUGLQJVQLFKWGDHUVLFKQLFKWPLWXQODXWHUHQ$EVLFKWHQWUXJ(UNDPQLFKWDXI GHQ*HGDQNHQGDVVHUJHJHQHLQ*HVHW]YHUVWLHDOVHUPLW+LOIHVHLQHV,PSXOVNRGHVSUHUVGHVVHQ 0LNURFRPSXWHU QDFK VHLQHP .RQVWUXNWLRQVSODQ KHUJHVWHOOW ZRUGHQ ZDU GLH %ORFNLHUXQJ QHXWUDOLVLHUWHXQGGLHgIIQXQJVDXWRPDWLNDNWLYLHUWH /DXWORVJOLWWGLH7U]XU6HLWH .\URQ%DUUDNXQEHWUDWHLQHQNXU]HQ.RUULGRUJLQJ]XUHUVWHQ:RKQXQJVWUOLQNVXQG|IIQHWHVLH 'DKLQWHU EHIDQG VLFK HLQ UHODWLY JURHV :RKQ]LPPHU PLW HLQHP HFKWHQ )HQVWHU VWDWW HLQHU 3URMHNWLRQVZDQG ZLH VLH DOOJHPHLQ EOLFK ZDUHQ 9RU GHP )HQVWHU JDE HV HLQH ]LUND IQI 0HWHU ODQJH%OXPHQEDQNYROOHUEOKHQGHQ3IODQ]HQLQ+\GURNXOWXUNEHOQ .\URQVDKGDUXQWHUHLQLJHVROFKHU3IODQ]HQZLHVLHDXFK]XPELRORJLVFKHQ5HF\FOLQJ6\VWHPGHV &RPSXWHUVFKLIIV JHK|UW KDWWHQ *OHLFK]HLWLJ VSUWH HU LKUH PHQWDOHQ XQG SVLRQLVFKHQ $XVVWUDKOXQJHQ (UJLQJKLQDWPHWHGHQ'XIWGHU%OWHQHLQXQGVWULFK]DUWPLWGHQ)LQJHUVSLW]HQEHUGLH%OlWWHU GHU 3IODQ]HQ PLW GHQHQ HU VLFK DXIJUXQG LKUHU 9HUZDQGWVFKDIW PLW GHQ 3IODQ]HQ GHV &RPSXWHUVFKLIIVPHQWDOYHUEXQGHQIKOWH 6FKRQEDOGVSUWHHUZLHLKPQHXH.UlIWH]XIO|VVHQ(UVHOEVWZDUQLFKWSVLRQLVFKEHJDEWDEHUHU ZDUHPSIlQJOLFKIUGLHSVLRQLVFKHQ$XVVWUDKOXQJHQMHQHU3IODQ]HQXQG]RJDXVLKQHQSV\FKLVFKH XQGSK\VLVFKH.UlIWH1DFKZHQLJHQ0LQXWHQZDUGLH$QJVWYRQLKPDEJHIDOOHQ(UEOLFNWHZLHGHU KRIIQXQJVYROOLQGLH=XNXQIWXQGZDUYRQQHXHP7DWHQGUDQJHUIOOW /DQJVDPJLQJHUGXUFKGLH:RKQXQJ9DUPLQGV,P$UEHLWV]LPPHUEOLHEHUVWHKHQXQGVDKVLFK DXIPHUNVDPXP$XHUGHPEOLFKHQ6FKDOWWLVFKPLW.RPPXQLNDWLRQVDQVFKOVVHQEHIDQGVLFKGHU HEHQIDOOVEOLFKH&RPSXWHU7HUPLQDOGDULQ,KPJHJHQEHUVWDQGHLQTXDGHUI|UPLJHU&RPSXWHU PLW%LOGVFKLUPXQGHL QHU 6FKDOWNRQVROH GLH YHUULHW GDVV HV VLFK XP HLQHQ DXWDUNHQ &RPSXWHU KDQGHOWH XQG QLFKW XP HLQH'DWHQDQVFKOXVWHOOH .\URQ EHDFKWHWH LKQ MHGRFK QLFKW ZHLWHU (U VXFKWH HLQHQ 5RERWHU JHQDXHU JHVDJW HLQ 6HOEVWEDXPRGHOO GDV GLH JOHLFKHQ RGHU lKQOLFKH .RQVWUXNWLRQVPHUNPDOH DXIZLHV ZLH VLH LP %DXVDW]IU(DUQ\YRUKDQGHQJHZHVHQZDUHQ $OV HU QLFKWV GHUJOHLFKHQ IDQG XQG DXFK LQ GHQ DQGHUHQ =LPPHUQ KDWWH HU NHLQHQ 5RERWHU HQWGHFNWQDKPHUDQGDVVGLH/HXWHGHV2UGQXQJVGLHQVWVGLHLP$XIWUDJ7LIIORUVGLH:RKQXQJ 9DUPLQGVXQWHUVXFKWKDWWHQLKQPLWJHQRPPHQKDWWHQ (UZROOWHVFKRQJHKHQDOVVHLQ%OLFNQRFKHLQPDODXIGHQTXDGHUI|UPLJHQ&RPSXWHUILHO 3O|W]OLFK HULQQHUWH HU VLFK GDUDQ GDVV HU HLQHQ JOHLFKHQ &RPSXWHU DXFK LQ GHU :RKQXQJ -XVWLQ 3D]]DUVHEHQIDOOVHLQHV6DERWHXUVJHVHKHQKDWWH(NURQ9DUPLQGVHOEVWKDWWHLKPGDPDOVHUNOlUW GDVV HV VLFK XP HLQ 6HOEVWEDXPRGHOO KDQGHOWH XQG GDVV GLH )LUPD $U]DFKHQD &R GHQ %DXVDW] JHOLHIHUWKDWWH 1DFKGHQNOLFK PXVWHUWH .\URQ %DUUDNXQ GLH 6FKDOWNRQVROH GHV (LJHQEDX&RPSXWHUV (NURQ
9DUPLQGPLWVHLQHPVWDUNHQ,QWHUHVVHIU&RPSXWHUDOOHU$UWXQGLKUH$QZHQGXQJVP|JOLFKNHLWHQ KDWWH DOVR GHU 9HUVXFKXQJ QLFKW ZLGHUVWHKHQ N|QQHQ HEHQIDOOV EHL $U]DFKHQD HLQHQ &RPSXWHUEDXVDW]]XEHVWHOOHQXQGPLWGHPGDUDXVJHEDXWHQ&RPSXWHU]XH[SHULPHQWLHUHQ 'RFKZLHZDUHUGDQQ]XVHLQHP:LVVHQEHUGLHJUDSKLVFKH(LQJDEHYRQ-R\VWLFNVJHNRPPHQ HLQHU0HWKRGHGLHHUQLHXQGQLPPHUDXIGHU5RGGHQEHUU\$FDGHP\JHOHUQWKDEHQNRQQWH" .\URQ]RJVLFKHLQHQ6WXKOKHUDQXQGVHW]WHVLFKYRUGDV6HOEVWEDXPRGHOO=XHUVW]|JHUQGGDQQ LPPHU UDVFKHU XQG ]LHOVWUHELJHU EHUKUWHQ VHLQH )LQJHUVSLW]HQ GLH 6HQVRUSXQNWH $XI GHP %LOGVFKLUPHUVFKLHQHQXQGYHUVFKZDQGHQ=DKOHQJUXSSHQXQG%XFKVWDEHQNRPEL QDWLRQHQDOOHPLW%HGHXWXQJHQZLHVLHYRUYLHOHQKXQGHUW-DKUHQYHUZHQGHWZXUGHQ $OOPlKOLFK EHJULII .\URQ %DUUDNXQ GDVV GLH /HXWH GLH VLFK &RPSXWHUEDXVlW]H YRQ $U]DFKHQD VFKLFNHQ OLHHQ DXVJHVSURFKHQGH 1RVWDOJLNHU ZDUHQ 6LH OLHEWHQ HV ZLUNOLFKH XQG NRQVWUXLHUWH 3UREOHPH PLW +LOIH HLQHU &RPSXWHUWHFKQLN ]X O|VHQ GLH LP -DKUKXQGHUW DOOJHPHLQ DOV XQ]XOlQJOLFK EHWUDFKWHW ZXUGH XQG ZDKUVFKHLQOLFK VFKDIIWHQ YLHOH GLHVHU 1RVWDOJLNHU HV WDWVlFKOLFK PLW ªDOWHP 3OXQGHU© GLH JOHLFKHQ /HLVWXQJHQ ]X HU]LHOHQ ZLH PLW PRGHUQVWHQ XQG KRFKZHUWLJVWHQ$QODJHQ 1DFKGHP HU VLFK PLW GHP &RPSXWHU YHUWUDXW JHPDFKW KDWWH IKUWH .\URQ HLQLJH NRPSOL]LHUWH %HUHFKQXQJHQ GXUFK XQG IDQG VHLQH $QQDKPH EHVWlWLJW :HU VLFK HLQLJHUPDHQ LQ GLH )XQNWLRQVZHLVHHLQHV&RPSXWHUVKLQHLQGHQNHQNRQQWHGHUYHUPRFKWHVHOEVWPLWHLQHPDQWLTXLHUWHQ 0RGHOODXVJH]HLFKQHWH/HLVWXQJHQ]XHUEULQJHQ 6FKOLHOLFK IUDJWH .\URQ GHQ 6SHLFKHUVHNWRU QDFK 3URJUDPPGDWHQ IU GLH 8PVWHOOXQJ GHV 6HOEVWEDXPRGHOOVDXIGLH)XQNWLRQHLQHV*UDSKLNWHUPLQDOVDE(UZDUQLFKWPHKUHUVWDXQWGDUEHU GDVVHUGLH$XVNXQIWHUKLHOWGLHJUDSKLVFKH(LQJDEHPVVHEHU-R\VWLFNVYRUJHQRPPHQZHUGHQ 'DKHUKDWWH(NURQ9DUPLQGDOVRVHLQ:LVVHQEHUGLHVH0HWKRGH'DVHUNOlUWHDOOHUGLQJVQLFKW ZDUXPHUDXVJHUHFKQHWGLHVH0HWKRGHJHQDQQWKDWWHDOV.\URQLKQEDWLKP]XVDJHQZLHHUHLQHQ &RPSXWHUEHQXW]HQZUGHXPVHLQHHLJHQH+DQGOXQJVZHLVHPLWGHP/HLWVSUXFKGHU5RGGHQEHUU\ $FDGHP\LQhEHUHLQVWLPPXQJ]XEULQJHQ :DV NRQQWH LKQ YHUDQODVVW KDEHQ HLQH %H]LHKXQJ ]ZLVFKHQ HWKLVFKHQ :HUWHQ XQG VHLQHP 6HOEVWEDXFRPSXWHUKHU]XVWHOOHQ"'DVPXVVWHXQEHGLQJWJHVFKHKHQVHLQ8PVRJU|HUDEHUZDUGLH %HGHXWXQJGLHVHUVHOWVDPHQ$QDORJLH .\URQVFKWWHOWHGHQ.RSI (V ZDU GRFK QLFKW P|JOLFK GDVV MHPDQG GHU EHU IHVWH HWKLVFKH XQG PRUDOLVFKH *UXQGVlW]H YHUIJWH ZLH (NURQ 9DUPLQG GLHVH *UXQGVlW]H EHLP 8PJDQJ PLW HLQHP &RPSXWHU YHUORU GHU QLFKWVDQGHUHVZDUDOVHLQ&RPSXWHU (UFKHFNWHGDV*HUl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|VXQJHQHUDUEHLWHQNRQQWH 'DVZDUDEHUDXFKVFKRQDOOHVXQGYRUDOOHPZDUHVQLFKWGLH(UNHQQWQLVGLH.\URQ%DUUDNXQLQ 9DUPLQGV:RKQXQJJHVXFKWKDWWH (QWWlXVFKWHUKREHUVLFKXQGVFKLFNWHVLFKDQGLH:RKQXQJ]XYHUODVVHQ(UKDWWHGLH$XHQWU VFKRQHUUHLFKWDOVHUVWHKHQEOLHEXQGVLFKODQJVDPXPGUHKWH'LH6HKQVXFKWQDFKGHQ9HUZDQGWHQ GHU 3IODQ]HQJHPHLQVFKDIW LQ GHU HU DXIJHZDFKVHQ ZDU XQG GDPLW GLH 6HKQVXFKW QDFK GHP ZDV LKP (OWHUQ :LHJH XQG +HLPDW EHGHXWHW KDWWH ZXUGH VR VWDUN GDVV VLH N|USHUOLFKHQ 6FKPHU] HU]HXJWH )DVW LQ 7UDQFH NHKUWH .\URQ LQV :RKQ]LPPHU ]XUFN JLQJ ]XU %OXPHQEDQN XQG EHUKUWH GLH
3IODQ]HQ 6HLQH$XJHQVFKO|VVHQVLFKXQGZLHGHUVSUWHHUMHQHPHQWDOHQXQGSVLRQLVFKHQ.UlIWHDXIVLFK EHUVWU|PHQ GLH LKQ VRZRKO SK\VLVFK VWlUNWHQ DOV DXFK IU VHHOLVFKH $XVJHJOLFKHQKHLW XQG YHUVWlUNWH.ODUKHLWGHV*HLVWHVVRUJWHQ 8QG .\URQ HUNDQQWH GDVV GLH ª'UDKW]LHKHU© GHU 6DERWDJHDNWH VLFK ]XU 5HNUXWLVLHUXQJ LKUHU +HOIHU HLQHU 0HWKRGH EHGLHQW KDWWHQ GLH HU DOOHLQ HUIXQGHQ ]X KDEHQ XQG EHKHUUVFKHQ ]X N|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lW]HQYHUVFKLFNWKDEHQQLFKWQXULQV6ROV\VWHPVRQGHUQ]X%HVWHOOHUQDXIDOOHQ]LYLOLVLHUWHQ 3ODQHWHQGLHVHU*DOD[LVGLHYRQGHU:HUEXQJGHV+REE\9HUVDQGVHUUHLFKWZXUGHQ .\URQ%DUUDNXQUXQ]HOWHYHUZXQGHUWGLH6WLUQDOVGLH.RQWUROOHQGHV*OHLWHUFRPSXWHUVSO|W]OLFK XQUHJHOPlLJEOLQNWHQ 'HU'2*(521EHUIORJJHUDGHGHQDOWHQ6WDGWNHUQYRQ7HUUDQLD&LW\GHUVFKRQYRUGHU .RQ]LOVKHUUVFKDIWVHLQHHKHPDOVEHUUDJHQGH%HGHXWXQJDQGHQQHXHQ6WDGWNHUQDEJHJHEHQKDWWH *UXQGGDIU ZDU HLQH bQGHUXQJ GHV *HVFKPDFNV GHU EUHLWHQ 0DVVH GHU 7HUUDQHU JHZHVHQ 6LH IKOWHQ VLFK LQPLWWHQ GHU NORW]LJHQ *HElXGHNRORVVH PLW LKUHU PHJDORPDQHQ $UFKLWHNWXU QLFKW PHKU ZRKO XQG ULFKWHWHQLKUH%URV/DJHU*HVFKlIWHXQG:RKQXQJHQDPQHXHQ,QQHUHQ9HUNHKUVULQJXQGVHLQHU ZHLWHUHQ8PJHEXQJHLQZRPRGHUQXQGKXPDQGHQNHQGH$UFKLWHNWHQ%DXWHQJHVFKDIIHQKDWWHQLQ GHQHQVLFKGLHDQJHVWUHEWH/HEHQVTXDOLWlWHKHUYHUZLUNOLFKHQOLH :lKUHQG GHU =HLW GHU $SKLOLH ZXUGH GLHVH (QWZLFNOXQJ ZHLWHUJHIKUW ZHQQ DXFK QLFKW DXV GHQVHOEHQ*UQGHQ$EHUGLHDSKLOLVFKHQ0HQVFKHQGDFKWHQH[WUHPSUDNWLVFK(LQKDOEYHUODVVHQHU DOWHU 6WDGWNHUQ RKQH QHQQHQVZHUWH NRPPHU]LHOOH %HGHXWXQJ EHVD QLFKW GLH JHULQJVWH $Q]LHKXQJVNUDIW 1DFK GHU 5FNNHKU GHU (UGH DQ LKUHQ DQJHVWDPPWHQ 3ODW] XQG QDFK GHU ª5FNIKUXQJ© GHU 0HQVFKHQDXVGHU3URYFRQIDXVWLP=XJHGHV8QWHUQHKPHQV3LOJHUYDWHUQDKPHQGLHQHXHQ7HUUDQHU VHOEVWYHUVWlQGOLFK ]XHUVW YRQ GHQ DP EHVWHQ HUKDOWHQHQ %DXWHQ XQG YRQ GHQ $UHDOHQ %HVLW] LQ GHQHQVLFKGDVZLUWVFKDIWOLFKHNXOWXUHOOHXQGSULYDWH/HEHQDPEHVWHQHQWIDOWHQNRQQWH (LQHV7DJHVZHQQ7HUUDV%HY|ONHUXQJZLHGHUGHQIUKHUHQ6WDQGHUUHLFKWKDWWHZUGHGHUDOWH 6WDGWNHUQ VLFKHU DEJHULVVHQ XQG QHX EHEDXW ZHUGHQ ELV DXI HLQ SDDU %DXZHUNH GLH PDQ ]XU (ULQQHUXQJDQYHUJDQJHQH(SRFKHQVWHKHQODVVHQZUGH 'DV DOOHV JLQJ .\URQ QXU IOFKWLJ GXUFK GHQ .RSI DOV VHLQ *OHLWHU GHQ %XJ VHQNWH XQG GLH *HVFKZLQGLJNHLWGURVVHOWH ,Q]ZLVFKHQZDUHV.\URQNODUJHZRUGHQGDVVMHPDQGPLWHQWVSUHFKHQGHUWHFKQLVFKHU$XVUVWXQJ GDV 0LVVLRQVSURJUDPP GHV )DKU]HXJFRPSXWHUV JHO|VFKW XQG LKP HLQ DQGHUHV 3URJUDPP DXIRNWUR\LHUWKDWWH(UYHUVXFKWHGHQ&RPSXWHUYRP6WHXHUWHLOGHV*OHLWHUVDE]XNRSSHOQXQGGHQ *OHLWHUPDQXHOO]XVWHXHUQGRFK GHU8QEHNDQQWHKDWWHGDIUJHVRUJWGDVVGHU&RPSXWHUVLFKGLH6WHXHUXQJQLFKWDEQHKPHQOLH 'LH DQGHUH 0|JOLFKNHLW GHQ (LQJULII GXUFK HQWVSUHFKHQGH 0DQLSXODWLRQHQ GHU )UHPGSURJUDPPLHUXQJ UFNJlQJLJ ]X PDFKHQ ZlUH HLQH .OHLQLJNHLW IU GHQ &RPSXWHU]|JOLQJ
JHZHVHQDEHUGLHVH.OHLQLJNHLWKlWWHHLQHQ=HLWDXIZDQGHUIRUGHUWGHU.\URQQLFKW]XU9HUIJXQJ VWDQG 6R PXVVWH HU KLOIORV GXOGHQ GDVV GHU *OHLWHU LP YHUZDKUORVWHQ ,QQHQKRI HLQHV HKHPDOLJHQ :DLVHQKDXVHV ODQGHWH (U VHW]WH VR KDUW DXI GDVV GLH gIIQXQJVDXWRPDWLN GHU UHFKWHQ 7U UHJHOZLGULJDNWLYLHUWZXUGH 6RIRUW]ZlQJWHVLFK.\URQ%DUUDNXQEHUGHQUHFKWHQ6LW]NOHWWHUWHLQV)UHLHXQGUDQQWHZDKOORV DXI HLQH GHU ]DKOUHLFKHQ RIIHQVWHKHQGHQ 7UHQ GHU YLHU *HElXGHIOJHO ORV %DOG K|UWH HU HLQHQ VFKDUIHQ$XVUXIXQGK|UWHKLQWHUVLFKGDV7UDSSHOQYRQ)HQ (U QDKP VHLQH JDQ]H .UDIW ]XVDPPHQ XQG OLHI VFKQHOOHU 6HLQ 9HUIROJHU ILHO DE XQG .\URQ VWUPWH LQ GDV *HElXGH KLQHLQ 'LH 6LWXDWLRQ ZDU WURW] GHU ELVKHU DXI 7HUUD JHVDPPHOWHQ (UIDKUXQJHQ]XXQJHZRKQWIULKQVRQVWKlWWHHUVLFKZDKUVFKHLQOLFK]ZHFNPlLJHUYHUKDOWHQ 6RYHUVXFKWHHUQXUVRVFKQHOOZLHP|JOLFKGLHDQGHUH6HLWHGHV*HElXGHIOJHOV]XHUUHLFKHQXQG YRQ GHU GDKLQWHUOLHJHQGHQ EUHLWHQ 6WUDH DXV +LOIH KHUEHL]XUXIHQ (U UDQQWH GXUFK YHUVWDXEWH .RUULGRUH VWROSHUWH EHU YHUPRGHUWH 0DWUDW]HQ XQG YHUURVWHWH %HWWJHVWHOOH ILHO KLQ VWDQG ZLHGHU DXIXQGOLHIZHLWHU $OVHUGLHRIIHQH7UDXIGHUDQGHUHQ6HLWHVFKRQVDKILHOLKPHLQGDVVHVHIIHNWLYHUZlUHPLW VHLQHP.20$UPEDQG+LOIHKHUEHL]XUXIHQ'RFKZDKUVFKHLQOLFKZlUHQGLH2UGQXQJVSIOHJHUYLHO ]XVSlWJHNRPPHQ .\URQVWUPWHDXVGHU7UEOLQ]HOWHLQVJUHOOH6RQQHQOLFKWXQGQDKPLPQlFKVWHQ$XJHQEOLFNGHQ VLOEULJVFKLPPHUQGHQHOOLSWLVFKHQ5XPSIHLQHVJURHQ)OXJJOHLWHUVZDKUGHUOLQNVQHEHQGHU7U VFKZHEWH .\URQVOLQNH+DQGIXKU]XPUHFKWHQ8QWHUDUPDQGHPGDV.20$UPEDQGEHIHVWLJWZDU'RFK GD VDK HU GHQ /DXI HLQHV 3DUDO\VDWRUV GHU LKP DXV GHP RIIHQHQ )HQVWHU GHV *OHLWHUV XQPLVVYHUVWlQGOLFK]XZLQNWH ª.RPPHQ6LH0LVWHU%DUUDNXQ©ULHIHLQHNXOWLYLHUWNOLQJHQGHZHLEOLFKH6WLPPHª1LHPDQGZLOO 6LHIUHVVHQ6WHLJHQ6LHHLQ,FKZLOOQXUHWZDVPLW,KQHQEHVSUHFKHQ8QGPDFKHQ6LHPLFKQLFKW QHUY|VVRQVWO|VHLFKYLHOOHLFKWDXV© ª2GHULFK©HUNOlUWHMHPDQGKLQWHU.\URQ $OV .\URQ VLFK XPGUHKWH EOLFNWH HU LQ GDV IODFKH QLFKWVVDJHQGH *HVLFKW HLQHV HWZD IQI]LJMlKULJHQ NRUSXOHQWHQ 0DQQHV (U DWPHWH VFKZHU LQIROJH GHU DQVWUHQJHQGHQ 9HUIROJXQJ .\URQV 5HVLJQLHUHQG ZDQGWH .\URQ VLFK ZLHGHU GHP *OHLWHU ]X $OV GLH UHFKWH 9RUGHUWU VLFK |IIQHWH VWLHJHUHLQ'DEHLPXVWHUWHHUGLHDXIGHPUHFKWHQ5FNVLW]VLW]HQGH)UDX6LHZDUXQJHIlKUVLHE]LJ -DKUH DOW HOHJDQW JHNOHLGHW DXVJHVSURFKHQ KEVFK XQG PXVWHUWH .\URQ VS|WWLVFK DXV PDQGHOI|UPLJHQVFKZDU]HQ$XJHQ ª:DVZROOHQ6LHYRQPLU"©IUDJWH.\URQª:HUVLQG6LHEHUKDXSW"© ª6RIUDJWPDQ/HXWHDXV©HUZLGHUWHGLH)UDX 'HU .RUSXOHQWH ]ZlQJWH VLFK DXI GHQ OLQNHQ +LQWHUVLW] 'HU UHFKWV YRUQ VLW]HQGH 3LORW HLQ KDOEYHUKXQJHUWDXVVHKHQGHUMXQJHU0DQQPLWROLYHIDUEHQHUXQJHVXQGHU+DXWJULIIQDFK.\URQXQG ]RJLKQPLWHLQHP5XFNJDQ]LQGHQ*OHLWHU ª$QVFKQDOOHQ©EHIDKOGLH)UDXXQGGUFNWHGLH0QGXQJGHV3DUDO\VDWRUVJHJHQ.\URQV1DFNHQ .\URQJHKRUFKWH,PQlFKVWHQ$XJHQEOLFNVWDUWHWHGHU*OHLWHU ª,FKVROO,KQHQ*UHYRQ0LVV7RGD\DXVULFKWHQ©VDJWHGLH)UDX .\URQ%DUUDNXQGUHKWHVLFKKDOEKHUXPXQGEOLFNWHEHUGLH6FKXOWHUQDFKKLQWHQ ª6LHKDEHQVLHDOVRHQWIKUW:RLVWVLH"© ª0LW GHU (QWIKUXQJ KDEHQ ZLU QLFKWV ]X WXQ© HUZLGHUWH GLH )UDX ª:LU ZXUGHQ OHGLJOLFK EHDXIWUDJW,KQHQHWZDVDXV]XULFKWHQXQGZLUNHQQHQQLFKWHLQPDOLKUHQ$XIHQWKDOWVRUW© ª:LHJHKWHVLKU"©IUDJWH.\URQ ª6LH VRUJHQ VLFK DOVR XP ,KUH 3DUWQHULQ© PHLQWH GLH )UDX ª'DV LVW JXW 'DQQ ZHUGHQ 6LH
EHVWLPPW WXQ ZDV XQVHUH $XIWUDJJHEHU YRQ ,KQHQ YHUODQJHQ QlPOLFK ,KUH 1DFKIRUVFKXQJHQ HLQ]XVWHOOHQ $QGHUQIDOOV ZUGH 0LVV 7RGD\ HWZDV 8QDQJHQHKPHV ]XVWRHQ HUNOlUWHQ XQVHUH $XIWUDJJHEHU© ª$EHU GLH 6DFKH EHGURKW GLH 6LFKHUKHLW DOOHU JDODNWLVFKHQ =LYLOLVDWLRQHQ© SURWHVWLHUWH .\URQ ª8QGGDPLWDXFK,KUHHLJHQH6LFKHUKHLW(VPXVVVREDOGZLHP|JOLFKXQWHUEXQGHQZHUGHQ© ª,FK ZVVWH QLFKW ZLH GLH 6DFKH XQVHUH 6LFKHUKHLW EHGURKHQ N|QQWH© HQWJHJQHWH GLH )UDX VS|WWLVFKª*HEHQ6LHVLFKNHLQH0KHXQV]XLUULWLHUHQ$XHUGHPKDEHQZLUQLFKWGHQJHULQJVWHQ (LQIOXDXIGLH$NWLYLWlWHQXQVHUHU$XIWUDJJHEHU© ª$EHU$U]DFKHQD &ROLHIHUQWlJOLFKZHLWHUH,QGRNWULQDWLRQVFRPSXWHUDXV©ULHI.\URQ ª$U]DFKHQD &R"©ULHIGLH)UDXEHUUDVFKWª:DVVROOGHU+REE\9HUVDQGPLW7ULVRQLXP]XWXQ "© 6LH ]RJ K|UEDU /XIW HLQ ª'XNOHLQHU 6DWDQ GHQNVW ZRKO ZHLO GX HLQ $V DXI GHP *HELHW GHU &RPSXWHUWHFKQLN ELVW N|QQWHVW GX PLFK YHUVFKDXNHOQ© ,KUH 6WLPPH NODQJ JDU QLFKW PHKU NXOWLYLHUW ª6LHVSUHFKHQQLFKWYRQGHQ&RPSXWHUQGLHLKUH$QZHQGHU]X6DERWDJHDQVWLIWHQ"©IUDJWH.\URQ YHUEOIIW (LQLJH 6HNXQGHQ ODQJ JHVFKDK EHUKDXSW QLFKWV GDQQ VFKOXJ LKP GLH )UDX GHQ /DXI GHV 3DUDO\VDWRUVKLQWHUVUHFKWH2KU(VZDUQXUHLQOHLFKWHU6FKODJJHZHVHQGHQQRFKZXUGHHV.\URQ VFKZDU]YRUGHQ$XJHQ%OXWVLFNHUWHDXVHLQHU3ODW]ZXQGH ª%LOGHVW GX GLU HLQ GX N|QQWHVW XQV GXPP UHGHQ PLW GHLQHQ &RPSXWHUPlUFKHQ GX 3RVLWURQHQ]lKOHU©IXKUVLHLKQDQ 'HUSLORWLHUHQGH+DOEYHUKXQJHUWHODFKWHPHFNHUQG %HQRPPHQDQWZRUWHWH.\URQ ª(VLVWZDKU'LHPHLVWHQ6DERWDJHIlOOHGHUOHW]WHQGUHL:RFKHQZXUGHQYRQ0HQVFKHQYHUEW GLHZlKUHQGGHU%HQXW]XQJYRQ6HOEVWEDX&RPSXWHUQLQ:DKQYRUVWHOOXQJHQJHWULHEHQZXUGHQVR GDVV VLH JODXEWHQ HWZDV JHJHQ GLH YHUPHLQWOLFK UHDNWLRQlULPSHULDOH 3ROLWLN GHU /)7 XQWHUQHKPHQ ]XPVVHQhEULJHQVJDEHVDXFKDXI3ODQHWHQDQGHUHU=LYLOLVDWLRQHQ6DERWDJHIlOOHPLWGHUJOHLFKHQ 8UVDFKH© ª8QVLQQ©HUZLGHUWHGLH)UDX ª,FKKDEHGDYRQJHK|UW©VDJWHGHU.RUSXOHQWHª,P9HUJOHLFK]XGHQQRUPDOHQ=HLWHQYRUGHP $QEUXFKGHU.RQ]LOVKHUUVFKDIWVLQGGLH)lOOHYRQ6DERWDJHJHJHQPLOLWlULVFKHXQGVXEPLOLWlULVFKH (LQULFKWXQJHQXPVHFKVKXQGHUWYLHU]LJ3UR]HQWJHVWLHJHQ,FKKDEHDXFKJHK|UWGDVVGLH$NWLRQHQ YRQIDQDWLVFKHQ6SLQQHUQYHUEWZXUGHQGLHVLFKDOV:HOWYHUEHVVHUHUIKOWHQ© ª7DWVlFKOLFK"©PHLQWHGLH)UDXª$EHUGDQQN|QQWHQGRFKGLH2UELWHUGDKLQWHUVWHFNHQRGHU"© ª7KHRUHWLVFK VFKRQ© HUZLGHUWH GHU .RUSXOHQWH ª$EHU GLH 2UELWHU ZROOHQ DOOH KXPDQRLGHQ ,QWHOOLJHQ]HQ DXV GHU *DOD[LV YHUWUHLEHQ 6LH ZUGHQ VLFK VHOEVW HLQ %HLQ VWHOOHQ ZHQQ VLH GLH 6FKLIIVWRQQDJH GHU UDXPIDKUHQGHQ =LYLOLVDWLRQHQ UHGX]LHUWHQ XQG GDPLW GLH (YDNXLHUXQJHQ HUVFKZHUWHQ© ª'DVNOLQJWORJLVFK©VDJWHGLH)UDXª8QG6LHKDEHQHVKHUDXVJHIXQGHQ0LVWHU%DUUDNXQ:HQQ 6LHVRVFKODXVLQGGDQQN|QQWHQ6LHEHVWLPPW&RPSXWHUVRSURJUDPPLHUHQGDVVVLHLKUH$QZHQGHU DXFKLQDQGHUHP6LQQHSV\FKLVFKNRQGLWLRQLHUHQ6WLPPWGDV"© ª'DVLVWQLFKWVFKZLHULJ©PHLQWH.\URQª$EHUHV YHUVWLHH JHJHQ GLH (WKLN GHU KXPDQRLGHQ ,QWHOOLJHQ]HQ LP DOOJHPHLQHQ XQG JHJHQ PHLQH %HUXIVHWKLNLPEHVRQGHUHQ© 'LHEHLGHQ0lQQHUODFKWHQDOVKlWWH.\URQHLQHQVDIWLJHQ:LW]HU]lKOW 'LH)UDXVFKZLHJELVGDV/DFKHQYHUVWXPPWZDUGDQQHUNOlUWHVLH ª,FKGHQNHPLW,KUHP.|QQHQOLHHVLFKXQJHKHXHUYLHO*HOGPDFKHQXQGQRFKYLHOPHKUDOV QXU *HOG :LU ZHUGHQ VSlWHU GDUEHU VSUHFKHQ 'LHVPDO JHKW HV QXU GDUXP ,KQHQ NODU]XPDFKHQ GDVV,KUH3DUWQHULQVRODQJHLQ*HIDKUVFKZHEWZLH6LH,KUH1DFKIRUVFKXQJHQZHLWHUIKUHQ© ª'LH1DFKIRUVFKXQJHQZHJHQGHVYHUVFKZXQGHQHQ7ULVRQLXPV"©YHUJHZLVVHUWHVLFK.\URQ ª6RN|QQWHPDQHVDXFKVDJHQ©HUZLGHUWHGLH)UDXHUKHLWHUWª:DVGDUILFKPHLQHP$XIWUDJJHEHU DXVULFKWHQ"©,KUH6WLPPHNODQJZLHGHUNXOWLYLHUW
ª'D GDV 9HUVFKZLQGHQ YRQ 7ULVRQLXP QLFKW GLH 6LFKHUKHLW GHU PHQVFKOLFKHQ =LYLOLVDWLRQ JHIlKUGHWZHUGHLFKPLW5FNVLFKWDXIPHLQH3DUWQHULQGHQ$XIWUDJ]XUFNJHEHQ©HUNOlUWH.\URQ ª6R LVW HV EUDY 0LVWHU %DUUDNXQ© VDJWH GLH )UDX ª6HOEVWYHUVWlQGOLFK ZHUGHQ 6LH EHU XQVHUH NOHLQH3ODXGHUVWXQGHVFKZHLJHQ'DVJHK|UW]XGHQ%HGLQJXQJHQ,VWGDVNODU"© ª6LH ZDUHQ GHXWOLFK JHQXJ© HUZLGHUWH .\URQ ELWWHU ª%ULQJHQ 6LH PLFK MHW]W ELWWH ]X PHLQHP *OHLWHU]XUFN0LVV"© ª0LVV 1DPHQORV© VDJWH GLH )UDX ª,FK ZROOWH DOOH XQVHUH ¾.OLHQWHQ½ KlWWHQ VR JXWH 8PJDQJVIRUPHQZLH6LH©6LHWLSSWHGHP3LORWHQDXIGLH6FKXOWHUª%ULQJGHQ +HUUQLQGLH1lKHVHLQHV/X[XVJOHLWHUV*LOO© L .\URQ %DUUDNXQ IDQG VHLQHQ *OHLWHU VR YRU ZLH HU LKQ YHUODVVHQ KDWWH (U VHW]WH VLFK DXI GHQ 3LORWHQVLW]XQGEHUSUIWHGHQ&RPSXWHU 'LH)UHPGSURJUDPPLHUXQJZDUQRFKLPPHUZLUNVDP'LH8QEHNDQQWHQKDWWHQVLFKDOVRQLFKWGHU 0KH XQWHU]RJHQ LKUH 0DQLSXOLHUXQJ UFNJlQJLJ ]X PDFKHQ .\URQ QDKP VHLQHUVHLWV HLQLJH 0DQLSXODWLRQHQ YRU XQG QHXWUDOLVLHUWH GDGXUFK LQQHUKDOE YRQ DFKW 0LQXWHQ GLH )UHPGSURJUDPPLHUXQJ $QVFKOLHHQGZLHVHUGHQ&RPSXWHUDQGHQ*OHLWHUDXIGHP'DFKYRQ'ROHQFH3ODFHO]XODQGHQ (LJHQWOLFKZl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lFKWLJHLQJHVWHOOW 'DV6FKOLPPVWHDEHUZDUGDVVHUPLWVHLQHP9RUJHKHQZHJHQGHV7ULVRQLXPV&DULOGDLQJU|WH *HIDKUEUDFKWH'LH7ULVRQLXPGLHEHPXVVWHQGRFKDQQHKPHQGDVVHUVLFKQLFKWDQGLH$EPDFKXQJ KLHOW $XV6RUJHXP&DULOGDVWHOOWH.\URQHLQH%OLW]YHUELQGXQJPLWGHU*&&=HQWUDOHKHUXQGYHUODQJWH $O\LS6DKJLLU\]XVSUHFKHQ 'HU%OXHWDXFKWHZHQLJVSlWHUDXIGHP%LOGVFKLUPGHV9LVLSKRQVDXI ª+DOOR.\URQ©VDJWHHUYHUZXQGHUWª,VWGLH6DFKHVFKRQDXIJHNOlUW"© ª(VWXWPLUOHLG©HUZLGHUWH.\URQª$EHULFKPXVVGHQ$XIWUDJ]XUFNJHEHQ(VVLQG8PVWlQGH HLQJHWUHWHQGLHPLFKGD]X]ZLQJHQGLH6DFKHQLFKWZHLWHU]XYHUIROJHQ© ª%HLDOOHQJUQHQ6DQGNUHDWXUHQ©HQWIXKUHVGHP%OXHª(VYHUVW|WJHJHQGLHDOOJHPHLQEOLFKH *HVFKlIWVSUD[LV ZHQQ MHPDQG HLQHQ $XIWUDJ HUVW DQQLPPW XQG GDQDFK XQWHU IDGHQVFKHLQLJHQ *UQGHQGDYRQ]XUFNWUHWHQZLOO,FKELQJDQ]XQGJDUQLFKWHLQYHUVWDQGHQ© ª,FKYHUVWHKH,KUH(UUHJXQJXQGELWWHLQDOOHU)RUPXP(QWVFKXOGLJXQJ©HUZLGHUWH.\URQª%LWWH JODXEHQ6LHPLUGDVVLFKQLFKWDQGHUVNDQQDOVGHQ$XIWUDJ]XUFN]XJHEHQ/HLGHUELQLFK]XU=HLW QLFKWLQGHU/DJH$XVNXQIWEHUGLH8PVWlQGH]XHUWHLOHQGLHPLFKGD]X]ZLQJHQ,FKYHUSIOLFKWH PLFKMHGRFK,KQHQVSlWHU5HFKHQVFKDIW]XJHEHQ© ª'DV QW]W PLU QLFKWV© HUNOlUWH $O\LS 6DKJLLU\ ª,FK KDEH GDUDXI YHUWUDXW GDVV 6LH GHQ KRUUHQGHQ ILQDQ]LHOOHQ 9HUOXVW YRQ GHU *&& DEZHQGHQ GHU HQWVWHKHQ ZUGH ZHQQ GDV YHUVFKZXQGHQH 7ULVRQLXP QLFKW ZLHGHUEHVFKDIIW ZHUGHQ N|QQWH :HOFKH 5HVXOWDWH KDEHQ 6LH EHUKDXSWVFKRQHU]LHOW.\URQ"© ª1RFKNHLQH©HUZLGHUWH.\URQ%DUUDNXQ ª'DQQ WUDJHQ 6LH GLH 9HUDQWZRUWXQJ GDIU GDVV GLH 'LHEH LKUH 6SXUHQ LQ]ZLVFKHQ YHUZLVFKHQ
NRQQWHQ©VDJWHGHU%OXHª,FKZHUGHGLH'LUHNWLRQNDXPGDYRQDEKDOWHQN|QQHQGLH$QZlOWHGHU *&&DXIGLHVHQ)DOODQ]XVHW]HQXQG,KUH)LUPDDXI6FKDGHQHUVDW]]XYHUNODJHQ© ª'DV LQWHUHVVLHUW PLFK LP $XJHQEOLFN EHUKDXSW QLFKW© JDE .\URQ ]XUFN ª%LWWH KDEHQ 6LH 9HUVWlQGQLVGDIUGDVVLFKGDV*HVSUlFKDEEUHFKHQPXVV© (UXQWHUEUDFKGLH9HUELQGXQJXQGVWHOOWHHLQHDQGHUH9HUELQGXQJKHU ª+LHU,PSHULXP$OSKD© VDJWHGLHPHORGLVFKH 6WLPPH GHU 5RERWYHUPLWWOXQJGHUHQ6\PERODXI GHP%LOGVFKLUPHUVFKLHQª%LWWHQHQQHQ6LH,KUHQ1DPHQXQG,KUH:QVFKH© (LQJHGHQN IUKHUHU VFKOHFKWHU (UIDKUXQJHQ ]HLJWH .\URQ VRIRUW VHLQH JUQH ,'.DUWH YRU XQG HUNOlUWH ª,FKELQLQJHKHLPHU0LVVLRQIUGHQ(UVWHQ7HUUDQHUWlWLJXQGZLOOPLWLKPYHUEXQGHQZHUGHQ (UHUZDUWHWHLQHQVHKUZLFKWLJHQ%HULFKWYRQPLU© ª(LQHGLUHNWH9HUELQGXQJLVWDXIJUXQGEHVRQGHUHU8PVWlQGH]XU=HLWQLFKWP|JOLFK©DQWZRUWHWH GLH 9RFRGHUVWLPPH ª,FK YHUELQGH PLW GHP 6HNUHWDULDW GHV (UVWHQ 7HUUDQHUV 'RUW ZLUG PDQ YHUVXFKHQLKQ]XHUUHLFKHQ© 'DV6\PEROGHU5RERWYHUPLWWOXQJHUORVFKXPJOHLFKGDUDXIGHP$EELOGHLQHUKEVFKHQMXQJHQ )UDX3ODW]]XPDFKHQ.\URQNDQQWHVLHYRQHLQHPIUKHUHQ$QUXIKHU6LHKLH$OYHQLD7URRJHQ ª+DOOR 0LVV 7URRJHQ© ULHI HU ª,FK PXVV 7LIIORU GULQJHQG VSUHFKHQ (V KDQGHOW VLFK XP GLH 6DERWDJHDQJHOHJHQKHLW,FKKDEHGLH/|VXQJJHIXQGHQ© ª'DZLUGVLFK0LVWHU7LIIORUIUHXHQ©HUZLGHUWH$OYHQLD7URRJHQª/HLGHUEHILQGHWHUVLFKLQHLQHU *HKHLPNRQIHUHQ] PLW K|FKVWHQ 9HUWUHWHUQ GHU *$9g. (V JHKW XP GDV 8OWLPDWXP GHU 2UELWHU XQG LFK GHQNH GLHVH 6DFKH KDW 9RUUDQJ YRU GHQ 6DERWDJHDNWLRQHQ ,FK VFKODJH YRU 6LH NRPPHQ KLHUKHUXQGZDUWHQELV0LVWHU7LIIORUYRQGHU.RQIHUHQ]]XUFNNHKUW© ª'DV LVW XQP|JOLFK© HUZLGHUWH .\URQ HUUHJW ª,FK NDQQ QLFKW ZDUWHQ 0HLQH 3DUWQHULQ LVW LQ K|FKVWHU*HIDKU'HVKDOEPXVVLFKVRVFKQHOOZLHP|JOLFK]XP0DUV:HQQ7LIIMHW]WNHLQH=HLWIU PHLQHQ%HULFKWKDWZLUGHUZDKUVFKHLQOLFKQRFKHLQLJH7DJHGDUDXIZDUWHQPVVHQ© $OYHQLD7URRJHQVFKDXWHQDFKGHQNOLFKYRP%LOGVFKLUPGDQQPHLQWHVLH ª,FKULVNLHUHVFKOLHOLFKQLFKWPHKUDOVPHLQH6WHO OXQJZHQQLFK0LVWHU7LIIORUHQWJHJHQVHLQHU$QZHLVXQJEHLGHU.RQIHUHQ]VW|UH'DVLVWQLFKW YLHOZHQQ0LVV7RGD\V/HEHQEHGURKWLVW:DUWHQ6LHELWWHHWZDV0LVWHU%DUUDNXQ© .\URQQLFNWHXQGZLVFKWHVLFKGLHVFKZHLQDVVHQ+lQGHDQGHU+RVHDE (UEUDXFKWHQXUHWZDHLQHKDOEH0LQXWH]XZDUWHQGDQQWDXFKWH-XOLDQ7LIIORUV$EELOGDXIVHLQHP %LOGVFKLUPDXI'HU(UVWH7HUUDQHUPDFKWHHLQHQDEJHNlPSIWHQ(LQGUXFN ª(QWVFKXOGLJHELWWH7LII©VDJWH.\URQ 7LIIORUOlFKHOWHIOFKWLJ ª:DV WXW PDQ QLFKW DOOHV IU HLQH VFK|QH )UDX .LG© (U ZXUGH ZLHGHU HUQVW ª:DV ZHLW GX 1HXHVEHU&DULOGD":LHNDQQLFKKHOIHQ"(U]lKOH© ª8P &DULOGD NPPHUH LFK PLFK VHOEVW 7LII© HUZLGHUWH .\URQ %DUUDNXQ ª,FK ZLOO GLU QXU GLH 6DFKHPLWGHU© ª=XHUVW&DULOGD©VDJWH7LIIORUHQWVFKLHGHQ .\URQVDKHLQGDVVHUVLFKJHJHQ7LIIORUQLFKWGXUFKVHW]HQNRQQWH ª'DQQELWWHNRGLHUW©HUNOlUWHHUª,FKVFKODJH.RGH6SHUU\8QLYDF7U\$JDLQYRU© 7LIIORUQLFNWHGDQQZHLWHWHQVLFKVHLQH$XJHQ ª'DVLVWGRFKGHUJHKHLPH.RGHIUGLH9HUVFKOVVHOXQJGHU0HOGXQJHQYRQ/LJD.XQGVFKDIWHUQ DQ,PSHULXP$OSKD© ª1DXQG"©IUDJWH.\URQª'DQQNDQQZHQLJVWHQVNHLQ8QEHIXJWHUXQVHU*HVSUlFKDEK|UHQ© ª'DVQHQQHLFKXQYHUIURUHQ©HUNOlUWHGHU(UVWH7HUUDQHUª$EHUGDUEHUVSUHFKHQZLUVSlWHU,FK ELQHLQYHUVWDQGHQPLWGHP.RGH© 1DFKGHP EHLGH 0lQQHU GLH HQWVSUHFKHQGHQ 3URJUDPPH LQ GLH 9HUVFKOVVHOXQJVFRPSXWHU LKUHU 9LVLSKRQH HLQJHJHEHQ KDWWHQ GXUIWHQ VLH VLFKHU VHLQ GDVV QLHPDQG GHU GDV *HVSUlFK PLWK|UWH HWZDVPLWGHP*HK|UWHQDQIDQJHQNRQQWH .\URQ EHULFKWHWH YRQ GHU )RUGHUXQJ GHU 7ULVRQLXPGLHEH XQG GDYRQ GDVV (DUQ\ ZlKUHQG VHLQHU
$EZHVHQKHLWHLQHQHXH0LWDUEHLWHULQHLQJHVWHOOWKDWWHXQGPLWLKU]XP0DUVJHJDQJHQVHLXPHLQH QHXH6SXULQGHU7ULVRQLXPDQJHOHJHQKHLW]XYHUIROJHQ ª'HVKDOEPXVVLFKDXFK]XP0DUV©HUNOlUWHHUª,FKPXVV(DUQ\]XUFNKDOWHQ© ª,VWNODU©PHLQWH7LIIORUª.DQQLFKGLUGDEHLKHOIHQ"© .\URQ VFKWWHOWH GHQ .RSI GDQQ EHULFKWHWH HU EHU VHLQH (QWGHFNXQJ GDVV GLH 6DERWHXUH YRQ 6HOEVWEDX&RPSXWHUQ GHU )LUPD $U]DFKHQD &R VR]XVDJHQ DXI 6DERWDJH SURJUDPPLHUW ZRUGHQ ZDUHQ ª'DV LVW NDXP ]X IDVVHQ© HUZLGHUWH -XOLDQ 7LIIORU ª/HLGHU EHILQGHW VLFK GLH )ORWWH DXV DXVUDQJLHUWHQ6FKLIIHQGHUhEHUVFKZHUHQGLH3\RQ$U]DFKHQDEHVLW]WXQGPLWGHUHUEHUDOO7HLOH DXINDXIWXQG]X%DXVlW]HQPRQWLHUHQOlVVWVWlQGLJDXIJURHU)DKUWVRGDVVHVHLQLJH=HLWGDXHUQ ZLUGVLH]XHUUHLFKHQ'HQQRFKN|QQHQZLUVRIRUWHWZDVWXQQlPOLFKGLH1DPHQGHULP6ROV\VWHP ZRKQHQGHQ.lXIHUYRQ&RPSXWHUEDXVlW]HQ]XHUPLWWHOQGLH/HXWHLQ9HUZDKUXQJ]XQHKPHQXQG GLH &RPSXWHU ]X EHVFKODJQDKPHQ $XHUGHP ZHUGH LFK YHUDQODVVHQ GDVV GLH 6LFKHUKHLWVGLHQVWH DOOHUHEHQIDOOVEHWURIIHQHQ=LYLOLVDWLRQHQEHQDFKULFKWLJWZHUGHQ,FKGDQNHGLUVHKU.LG'DIUKDVW GXHLQHQ6XSHUZXQVFKIUHL© ªhEHU]HXJH GLH 2UELWHU GDYRQ GDVV ZLU NHLQH *DUEHVFKLDQHU VLQG XQG YHUKLQGHUWH HLQH 9HUWUHLEXQJYRQGHU(UGH7LII©HUNOlUWH.\URQHLQGULQJOLFKª'DVLVWPHLQJU|WHU:XQVFK© ª,FK WXH DOOHV XP GDV ]X HUUHLFKHQ .LG© HUZLGHUWH -XOLDQ 7LIIORU HUQVW ª.PPHUH GX GLFK LQ]ZLVFKHQXP&DULOGDXQGULFKWHLKU*UHYRQPLUDXV© ª:LUGHUOHGLJW7LII©VDJWH.\URQXQGXQWHUEUDFKGLH9HUELQGXQJ .\URQ %DUUDNXQV JU|WH 6RUJH ZDU JHZHVHQ GDVV GLH 7UDQVPLWWHUYHUELQGXQJ YRQ 7HUUDQLD &LW\ QDFK0DUVSRUWYRQGHQ.HXVFKLIIHQGHU2UELWHULUJHQGZLHJHVW|UWZHUGHQN|QQWH'DVZDUMHGRFK QLFKWGHU)DOO 'LH =HQWUDOVWDWLRQ 7HUUDQLD DUEHLWHWH XQJHKLQGHUW $OOHUGLQJV KHUUVFKWH QLFKW VRYLHO %HWULHE ZLH EHL .\URQV OHW]WHU 5HLVH ]XP 0DUV $QJHVLFKWV GHU %HGURKXQJ GXUFK GLH 2UELWHUIORWWH ZDU QXU ZHQLJHQ0HQVFKHQQDFK9HUJQJXQJVUHLVHQ]XPXWH .\URQKDWWHNHLQH0KHHLQHQ7D[L+DOWHSXQNW]XHUUHLFKHQ$EHUHUVWDOVGDVQlFKVWH5RERWWD[L KHUDQVFKZHEWH ZXUGH LKP EHZXVVW GDVV HU NHLQH $KQXQJ KDWWH ZR DXI GHP 0DUV HU QDFK (DUQ\ XQG%\ULOOD,PSOHUVXFKHQVROOWH 'HQQRFKVWLHJHUZLHXQWHUHLQHPLQQHUHQ=ZDQJHLQDOVVLFKYRULKPGLH 7UGHV7D[LJOHLWHUV |IIQHWH(UGDFKWHILHEHUKDIWQDFKZlKUHQGHUVLFKLQGHQ6LW]VLQNHQOLH ª=X 'LHQVWHQ© VDJWH QDFK HLQHU :HLOH GHU 5RERWSLORW XQWHU GHP .RQWUROOSDQHHO GHV *OHLWHUV ª%LWWHJHEHQ6LH,KU)DKUW]LHODQ© ª,FKZHLQLFKWZRLFK(DUQ\XQG%\ULOOD,PSOHUVXFKHQVROO©HUNOlUWH.\URQ 'DPLW ZXVVWH GHU 5RERWSLORW RIIHQNXQGLJ QLFKWV DQ]XIDQJHQ GHQQ HU ZLHGHUKROWH OHGLJOLFK VWHUHRW\SVHLQHHUVWH$XIIRUGHUXQJGDV)DKUW]LHODQ]XJHEHQ ªgIIHQWOLFKH&RPSXWHU]HQWUDOHELWWH©VDJWH.\URQZHLOLKPQLFKWVDQGHUHVHLQILHO+DVWLJ]RJHU VHLQHJUQH,'.DUWHKHUYRUXQGVFKREVLHLQGHQ6FKOLW]LQQHUKDOEGHVURWSXOVLHUHQGHQ.UHLVHVDXI GHP.RQWUROOSDQHHO (LQ.OLFNHQHUW|QWHGDQQSXOVLHUWHGHU.UHLVJUQXQGGLH,'.DUWHJOLWW]XUFN.\URQVWHFNWH VLHHLQ ªgIIHQWOLFKH &RPSXWHU]HQWUDOH LQ 0DUVSRUW© VDJWH GLH 6WLPPH GHV 5RERWSLORWHQ ª,VW 0DUVSRUW ULFKWLJ"© ª-DULFKWLJ©DQWZRUWHWH.\URQ 'HU *OHLWHU KDWWH LQ]ZLVFKHQ DEJHKREHQ XQG ZDU DXI GLH 6WDQGDUGK|KH YRQ GUHLKXQGHUW 0HWHUQ JHVWLHJHQ(UIORJHLQHZHLWH6FKOHLIHXQGJLQJGDQQDXI.XUV
.\URQEOLFNWH]XP+LPPHOHPSRU(VZDU]XGLHVHU=HLW1DFKWDXIGLHVHU6HLWHGHV0DUVDEHU GDVEHGHXWHWHQXUGDVVNHLQHVRODUH6WUDKOXQJHLQILHOXQGQLFKWGDVVHVGXQNHOJHZHVHQZlUH'LH .XQVWVRQQHQ GLH VFKRQ YRU YLHOHQ KXQGHUW -DKUHQ DXI VWDWLRQlUHQ .UHLVEDKQHQ EHU GHP 0DUV ªYHUDQNHUW© ZRUGHQ ZDUHQ XQG GLH 9RUDXVVHW]XQJHQ IU HLQH 7HUUDIRUPXQJ GHV ªURWHQ 3ODQHWHQ© GDUJHVWHOOW KDWWHQ VSHQGHWHQ HLQH JOHLFKPlLJH +HOOLJNHLW 'LH HEHQIDOOV ZlKUHQG GHV 7HUUDIRUPXQJVSURJUDPPVHU]HXJWHHUGlKQOLFKH$WPRVSKlUHZDUNODUGDGLHIUKHUHQ6DQGPDVVHQ GHU 0DUVZVWHQ OlQJVW GXUFK 6SH]LDOJUlVHU RGHU FKHPLVFKH %HKDQGOXQJHQ JHEXQGHQ ZDUHQ 'LH YRQGHQHUVWHQ6LHGOHUQJHIUFKWHWHQ6DQGVWUPHJHK|UWHQGHU9HUJDQJHQKHLWDQ .\URQ %DUUDNXQ GDFKWH XQZLOONUOLFK GDUDQ GDVV DXFK GLH =LYLOLVDWLRQ GHV 0DUV EDOG GHU 9HUJDQJHQKHLW DQJHK|UHQ PRFKWH IDOOV GLH 2UELWHU QLFKW YRQ LKUHQ LUUVLQQLJHQ )RUGHUXQJHQ DEJHEUDFKWZHUGHQNRQQWHQ'DQQZUGHGHU6DQGVLFKLUJHQGZDQQYLHOOHLFKWZLHGHUEHIUHLHQXQG 0DUVSRUWVRZLHGLHDQGHUHQJURHQ6WlGWHXQWHUVLFKEHJUDEHQ (LQVFKQHOODQVFKZHOOHQGHV'U|KQHQQlKHUWHVLFKYRQUHFKWVKLQWHQ.\URQZDQGWHGHQ.RSIVDK DEHUQLFKWVZDVGDV'U|KQHQYHUXUVDFKHQN|QQWH'HQQRFKZXUGHHVLPPHUODXWHUYHUPLVFKWHVLFK PLWLQIHUQDOLVFKHP+HXOHQ3IHLIHQXQG%URGHOQ 8QGGDQQVDK.\URQVLHGUHLULHVLJHNHLOI|UPLJH5DXPVFKLIIHGLHLQ]LUND]ZHLWDXVHQG0HWHUQ +|KH PLW 8QWHUVFKDOOJHVFKZLQGLJNHLW GLH +DXSWVWDGW GHV 0DUV EHUIORJHQ (U EOLFNWH LKQHQ QDFK ELV VLH QXU QRFK GUHL JUHOO JOKHQGH 6WULFKH ZDUHQ XQG VFKOLHOLFK JDQ] DXV VHLQHP %OLFNIHOG YHUVFKZDQGHQ =ZHLIHOORV VROOWH GHU hEHUIOXJ GLH 0DFKW GHU 2UELWHU GHPRQVWULHUHQ XQG GHQ ª*DUEHVFKLDQHUQ© DXI GHP YLHUWHQ 3ODQHWHQ 6ROV EHZHLVHQ ZLH ZHKUORV VLH JHJHQ GLH .HLOVFKLIIORWWHQ ZDUHQ 'RFK .\URQ HUNDQQWH DXFK HWZDV DQGHUHV GDVV GLH 2UELWHU LKUH 0DFKW PLW IULHGOLFKHQ 0LWWHOQ GHPRQVWULHUWHQ XQG QLFKW ZLH HV DXFK LQ GHU *HVFKLFKWH GHU 0HQVFKKHLW OHLGHU RIW JHQXJ YRUJHNRPPHQ ZDU PLW PXWZLOOLJHU =HUVW|UXQJ 'LH .HLOVFKLIIH KlWWHQ QXU hEHUOLFKWJHVFKZLQGLJNHLW ]X IOLHJHQ EUDXFKHQ XQG GLH NOHLQHQ XQG PLWWHOJURHQ *HElXGH YRQ 0DUVSRUWZlUHQ]X6FKXWW]HUIDOOHQ 'DV JDE LKP QHXH +RIIQXQJ (LQ *HJQHU GHU VHLQH YHUPHLQWOLFKHQ )HLQGH VR VFKRQHQG EHKDQGHOWHZUGHGLH0HQVFKKHLWQLFKWEUXWDODXVLKUHU+HLPDWYHUWUHLEHQ ª'LHgIIHQWOLFKH&RPSXWHU]HQWUDOH©VDJWHGHU5RERWSLORW .\URQ %DUUDNXQ EOLFNWH QDFK GUDXHQ XQG VDK GDVV GHU *OHLWHU ]XU /DQGXQJ DXI HLQHU YRQ ]DKOUHLFKHQ UHFKWHFNLJHQ 3ODWWIRUPHQ DQVHW]WH GLH DXI KDOEHU +|KH DXV GHU :DQGXQJ HLQHV ]LUND ]ZHLKXQGHUW 0HWHU KRKHQ .XSSHOEDXHV UDJWHQ 'DGXUFK HUKLHOW GDV %DXZHUN HLQH JHZLVVH bKQOLFKNHLW PLW GHP KLVWRULVFKHQ 5LHVHQURERWHU 2/' 0$1 DOOHUGLQJV PLW GHP JHZDOWLJHQ 8QWHUVFKLHGGDVV2/'0$1HLQHQ*UXQGIOlFKHQGXUFKPHVVHUYRQ]ZHLKXQGHUW.LORPHWHUQJHKDEW KDWWH $OVGHU*OHLWHUJHODQGHWZDUVWLHJ.\URQDXV8QHQWVFKORVVHQVDKHUVLFKXPGDQQHQWVFKLHGHU VLFK PDQJHOV DQGHUHU 0|JOLFKNHLWHQ GDIU GDV 7UDQVSRUWEDQG ]X EHWUHWHQ GDV ]X HLQHP RIIHQHQ 3RUWDOLQGHU*HElXGHZDQGDXV0HWDOOSODVWLNIKUWH $XI GHP :HJ GRUWKLQ VWUHLIWH .\URQ GHQ UHFKWHQ bUPHO VHLQHV $Q]XJV KRFK XQG PXVWHUWH VHLQ .RPPDUPEDQG(UKlWWHHVEHQXW]HQN|QQHQXP9HUELQGXQJPLW(DUQ\DXI]XQHKPHQGHQQDXFK EHUGHP0DUVKLQJHQ.RPPXQLNDWLRQVVDWHOOLWHQ'RFK|IIHQWOLFKH)XQN 6SUFKHNRQQWHQDEJHK|UWZHUGHQXQG.\URQZROOWHQLFKWGDVVVHLQH*HJQHUHWZDVYRQVHLQHU $QNXQIWDXIGHP0DUVHUIXKUHQ +LQWHUGHP3RUWDOODJGLHEOLFKH9HUWHLOHUKDOOHYRQGHUDXVPHKUHUHQDFKREHQEH]LHKXQJVZHLVH QDFK XQWHQ JHSROWH .UDIWIHOGVFKlFKWH DXVJLQJHQ $XI HLQHP :HJZHLVHUVFKLUP ZDUHQ GLH YHUVFKLHGHQHQ 0|JOLFKNHLWHQ IU %HVXFKHU GHU gIIHQWOLFKHQ &RPSXWHU]HQWUDOH ]X VHKHQ 6LH XQWHUVFKLHGHQ VLFK KDXSWVlFKOLFK LQ GHU 4XDOLWlW GHV $QVFKOXVVHV GHQ PDQ EHQXW]HQ NRQQWH XQG QDWUOLFKLQGHQ3UHLVHQGLHIUGLHXQWHUVFKLHGOLFKHQ4XDOLWlWHQXQWHUVFKLHGOLFKKRFKZDUHQ .\URQ %DUUDNXQ HQWVFKLHG VLFK IU HLQHQ $OSKD 'DWDSRLQW XQG VFKZHEWH LQ GLH IQIWH 6XEHWDJH
GHV *HElXGHV KLQDE /HXFKWVFKULIWHQ DQ GHQ :lQGHQ OHLWHWHQ LKQ ]X %R[ ZLH GHU NOHLQH 5DXP JHQDQQWZXUGHGHUDQHLQH5DXPVFKLIIVNDELQHHULQQHUWHXQGGLH'DWHQDQVFKOXVVVWHOOHHQWKLHOW ª+DOOR©VDJWHHLQHPHORGLVFKH9RFRGHUVWLPPHDXI,QWHUNRVPRDOVVLFKGDV.DELQHQVFKRWWKLQWHU .\URQ JHVFKORVVHQ KDWWH ª6LH KDEHQ VLFK IU GLH %HQXW]XQJ HLQHV $OSKD 'DWDSRLQWV HQWVFKORVVHQ XQGGDPLW]XPOHLVWXQJVIlKLJVWHQ'DWHQDQVFKOXVVGHQGLHPRGHUQH7HFKQLNELHWHQNDQQ)DOOV6LH %HGLHQXQJVKLQZHLVH EHQ|WLJHQ VDJHQ 6LH HV HLQIDFK 9RU GHU $NWLYLHUXQJ VWHFNHQ 6LH ,KUH ,' .DUWHELWWHLQGLH5HJLVWULHU|IIQXQJGLHGXUFKHLQHURWOHXFKWHQGH.UHLVOLQLHPDUNLHUWLVW3UR0LQXWH 5HFKHQ]HLW ZHUGHQ ]ZHLKXQGHUWVLHE]LJ 6RODU YRQ ,KUHP .RQWR DEJHEXFKW 9LHOHQ 'DQN IU ,KUH $XIPHUNVDPNHLW© ª%LWWH© HUZLGHUWH .\URQ JHLVWHVDEZHVHQG 'HU $QEOLFN GHV JURHQ 'DWHQVFKLUPV XQG GHV .RQWUROOSDQHHOV PLW GHQ (LQJDEH XQG 6WHXHUVHQVRUHQ GLH ]XVDPPHQ GLH 5FNZDQG GHU %R[ DXVIOOWHQ KDWWH DXI LKQ VWLPXOLHUHQG JHZLUNW (U ZXVVWH PLW HLQHPPDO JHQDX ZLH HU YRUJHKHQ ZUGH (UVHW]WHVLFKDXIGHQVFKZHQNEDUHQ6HVVHOYRUGHP.RQWUROOSDQHHOVFKREVHLQH,'.DUWHLQGHQ 6FKOLW]GHU5HJLVWULHU|IIQXQJXQGDNWLYLHUWHGHQ'DWDSRLQW$QVFKOLHHQGYROOIKUWHQVHLQH)LQJHU DXIGHQ(LQJDEHXQG6WHXHUVHQVRUHQHLQHQZLUEHOQGHQ7DQ](UEUDXFKWHQLFKWHLQPDOKLQ]XVHKHQ VRQGHUQ NRQQWH VLFK DXI GHQ 'DWHQVFKLUP NRQ]HQWULHUHQ GD GHU $OSKD 'DWDSRLQW GDV JOHLFKH .RQWUROOSDQHHOZLHHLQ3URIHVVLRQHOOHU&RPSXWHUEHVD :LHGHU HLQPDO EHGLHQWH VLFK .\URQ %DUUDNXQ GHV 5FNNRSSOXQJVSULQ]LSV GDV HLQHV GHU ZLFKWLJVWHQ )XQNWLRQVSULQ]LSLHQ PRGHUQHU &RPSXWHU ZDU XQG VLFK GHVKDOE IU PDQLSXOLHUHQGH (LQJULIIH JHUDGH]X DQERW IDOOV PDQ ]X HLQHP H[WUHP LQWHQVLYHQ 9HUVWlQGQLV DOOHU SRVLWURQLVFKHQ 6\VWHPHIlKLJZDU 'LHVPDO EHJLQJ .\URQ MHGRFK QLFKW GHQ )HKOHU GHQ 'DWDSRLQW DOV ª(LQVWLHJ© LQ GDV VRODUH &RPSXWHUYHUEXQGQHW] ]X EHQXW]HQ XQG GLH ,QIRUPDWLRQVJHKDOWH DOOHU HOHNWURQLVFKHQ XQG SRVLWURQLVFKHQ,PSXOVH]XHUIDVVHQ(UZROOWHQLFKWQRFKHLQPDOYRQMHQHP8QEHNDQQWHQDXIJHVSUW ZHUGHQZLHYRU]ZHL7DJHQ (U WlXVFKWH GHQ 9HUWHLOHUSRVLWURQLNHQ GHV 9HUEXQGQHW]HV YLHOPHKU MHZHLOV HLQH $QIUDJH GHV gIIHQWOLFKHQ &RPSXWHU]HQWUXPV DQ HLQHQ EHVWLPPWHQ &RPSXWHU YRU GHU DQ GDV 9HUEXQGQHW] DQJHVFKORVVHQ ZDU 'LH VR ]XVDPPHQJHWUDJHQHQ ,QIRUPDWLRQHQ YHUZRE HU GDQDFK PLW +LOIH GHV 'DWDSRLQWV]XHLQHP1HW]DXVGHPHUXQGZDKUVFKHLQOLFKQXUHUDOOHLQHLQ0XVWHUKHUDXV]XOHVHQ YHUPRFKWHLQGHPVLFKLKP+LQZHLVHDXIHLQH8QPHQJHYRQ$NWLYLWlWHQHUVFKORVVHQ 8QG LQ GLHVHQ +LQZHLVHQ IDQG HU GLH ,QIRUPDWLRQ GDVV VLFK (DUQ\ XQG %\ULOOD ,PSOHU ]XU 6DWHOOLWHQNRQWUROOVWDWLRQDPVGOLFKHQ5DQGGHU7KDUVLV5HJLRQEHJHEHQKDWWHQ=XPLQGHVWEHVWDQG HLQH KRKH :DKUVFKHLQOLFKNHLW GDIU GHQQ LQ PHKUHUHQ &RPSXWHUQ KDWWH HU JHVSHLFKHUWH ,QIRUPDWLRQHQJHIXQGHQGLHPLWXQWHUVFKLHGOLFKHQ8PVFKUHLEXQJHQDXVGUFNWHQGDVV GHU 3DUWQHU GHU YHUZDUQWHQ 3HUVRQ PLW & DQ YHUVFKLHGHQHQ 6WHOOHQ $XVNQIWH HLQJHKROW KDWWH GLHLKQOHW]WHQ(QGHV]XGHU6DWHOOLWHQNRQWUROOVWDWLRQIKUHQPXVVWHQ 'HU ª3DUWQHU GHU YHUZDUQWHQ 3HUVRQ© GDPLW NRQQWH QXU (DUQ\ JHPHLQW VHLQ 8QNODU ZDU .\URQ DQIDQJVZDUXP%\ULOOD,PSOHUPLWª&©EH]HLFKQHWZXUGHELVLKPDXIJLQJGDVVGDVGLH$UWYRQ 1DFKULFKWHQGLHQVWHQ ZDU GLH ,GHQWLWlW YRQ EHLP *HJQHU HLQJHVLFNHUWHQ HLJHQHQ 0LWDUEHLWHUQ ]X WDUQHQ %\ULOOD,PSOHUZDUDOVRHLQH$JHQWLQGHU7ULVRQLXPGLHEHXQGQXU]XGHP=ZHFNEHLGHU)LUPD &RPSXWHU.LG HLQJHVFKOHXVW ZRUGHQ XP LKUH $XIWUDJJHEHU EHU GLH 6FKULWWH GHU *HJHQVHLWH DXI GHP/DXIHQGHQ]XKDOWHQ =RUQHUIDVVWH.\URQ%DUUDNXQ=RUQDXIGLHVFKHLQKHLOLJHQ:RUWH%\ULOOD,PSOHUVGLHVLHLQGHQ 6SHLFKHU VHLQHV 7HUPLQDOV JHVSURFKHQ KDWWH XQG =RUQ DXI VLFK ZHLO HU QLFKW PLW HLQHU VROFKHQ 0|JOLFKNHLWJHUHFKQHWKDWWH 'HQQRFKZHFNWHVHLQ=RUQNHLQHELOOLJHQ5DFKHJHIKOHLQLKP(UEOLHEEHVRQQHQJHQXJXPQXU GDUDQ]XGHQNHQZLHHU(DUQ\]XUFNSIHLIHQNRQQWHXP&DULOGDQLFKWQRFKPHKU]XJHIlKUGHQDOV GDVGXUFK(DUQ\V5HLVH]XP0DUVRKQHKLQJHVFKHKHQVHLQPXVVWH (U VFKDOWHWH GHQ 'DWDSRLQW DE QDKP VHLQH ,'.DUWH DXV GHU 5HJLVWULHU|IIQXQJ XQG YHUOLH GLH
gIIHQWOLFKH&RPSXWHU]HQWUDOHDXIGHPJOHLFKHQ:HJDXIGHPHUVLHEHWUHWHQKDWWH $XIGHU3ODWWIRUPZLQNWHHUPLWVHLWOLFKDXVJHVWUHFNWHU+DQGHLQ5RERWWD[LKHUEHLVWLHJHLQXQG QDQQWHDOV=LHOGLH6DWHOOLWHQNRQWUROOVWDWLRQDPVGOLFKHQ5DQGGHU7KDUVLV5HJLRQ 'LH VFKQHHZHL VFKLPPHUQGHQ 6FKXW]NXSSHOQ GHU 2UWXQJV XQG )XQNDQWHQQHQ KREHQ VLFK GHXWOLFKJHJHQGLHVDQIWJHZHOOWHQEODXJUQHQ5DVHQIOlFKHQXQGGLH :lOGFKHQ DXV =ZHUJNLHIHUQ DE (LQ VFKQXUJHUDGHU :DVVHUNDQDO GHU YRQ 6GHQ QDFK 1RUGHQ YHUOLHIXQGLQHLQHP7DOVHHHQGHWHGXUFKVFKQLWWGLH/DQGVFKDIW .\URQ %DUUDNXQ QDKP VLFK QLFKW GLH =HLW GLH 1DWXUVFK|QKHLWHQ ]X EHZXQGHUQ :lKUHQG GHU 5RERWJOHLWHU DXI GLH /DQGHIOlFKH ]ZLVFKHQ GHU 6DWHOOLWHQNRQWUROOVWDWLRQ XQG GHQ LQ SDUNlKQOLFKHQ *lUWHQ VWHKHQGHQ %XQJDORZV ]XVWHXHUWH LQ GHQHQ GLH $QJHVWHOOWHQ GHU .RQWUROOVWDWLRQ ZRKQWHQ VXFKWH HU QDFK GHP *OHLWHU PLW GHP (DUQ\ XQG %\ULOOD ,PSOHU JHNRPPHQ ZDUHQ RGHU QRFK NRPPHQZUGHQ (UYHUPRFKWHNHLQHQ]XHQWGHFNHQGHQQGLH/DQGHIOlFKHIUGLH*OHLWHUYRQ%HVXFKHUQZDUOHHU (V VHL GHQQ (DUQ\V *OHLWHU ZlUH ]ZLVFKHQ GHQ *OHLWHUQ GHU $QJHVWHOOWHQ JHODQGHW GLH DXI HLQHU VHSDUDWHQ)OlFKH]ZLVFKHQGHQ.XSSHOQGHU6WDWLRQVWDQGHQ 'LH $XHQPLNURSKRQH EHUWUXJHQ HLQ KHOOHV VLQJHQGHV *HUlXVFK .\URQ EOLFNWH QDFK 1RUGHQ XQGVDKGDVVYRQGHP)lKUKDIHQYRUGHU6LOKRXHWWHGHUJHZDOWLJHQ9XONDQHYRQ7KDUVLVHLQH)lKUH DEJHKREHQ KDWWH 'LH )lKUHQ GLHQWHQ GHU 9HUELQGXQJ ]ZLVFKHQ GHU 6WDWLRQ XQG GHQMHQLJHQ 0DUVVDWHOOLWHQ GLH YRQ LKU NRQWUROOLHUW XQG JHZDUWHW ZXUGHQ (V KDQGHOWH VLFK GDEHL XP HLQ NRPPHU]LHOOHV 'LHQVWOHLVWXQJVXQWHUQHKPHQ XQG DXFK GLH YRQ LKP EHWUHXWHQ 2UELWDOVWDWLRQHQ .RPPXQLNDWLRQVXQG796DWHOOLWHQ2UELWDOKRWHOVIU7RXULVWHQHLQH+RVSLWDOVWDWLRQ+WWHQZHUNH XQG HLQH :HOWUDXPIDEULN ]XU +HUVWHOOXQJ YRQ +RUPRQSUlSDUDWHQ IU GLH %HJQVWLJXQJ GHU $XVEUHLWXQJ GHU HUZQVFKWHQ 0DUVYHJHWDWLRQ ]X /DVWHQ GHU XQHUZQVFKWHQ EHIDQGHQ VLFK ZHLWJHKHQGLP%HVLW]SULYDWHU*HVHOOVFKDIWHQ .\URQZDUQLFKWNODUZDV(DUQ\EHZRJHQKDWWHGLH.RQWUROOVWDWLRQDOV=LHOEHLGHU6XFKHQDFK GHQ7ULVRQLXPGLHEHQ]XZlKOHQ(UNRQQWHVLFKQLFKWYRUVWHOOHQGDVVGLH'LHEHGDV7ULVRQLXPPLW 5DXPIlKUHQYRP 0DUV]XHLQHP6DWHOOLWHQJHVFKDIIWKDWWHQXPHVGRUW]XODJHUQELVLKQHQHLQGLVNUHWHU9HUNDXI P|JOLFKZDU 'HU*OHLWHUVHW]WHDXIGHU/DQGHIOlFKHIU%HVXFKHUDXI ª:DUWHKLHU©VDJWH.\URQ]XP&RPSXWHU ª9HUVWDQGHQ©JDEGLH9RFRGHUVWLPPH]XUFNª%LWWHVFKLHEHQ6LH,KUH,'.DUWHQRFKHLQPDOLQ GHQ6FKOLW]LQQHUKDOEGHVJUQSXOVLHUHQGHQ.UHLVHV© .\URQNDPGHP9HUODQJHQGHV&RPSXWHUVQDFKGDQQQDKPHUGLH,'.DUWHZLHGHUDQVLFKXQG VWLHJDXV(LQGLVNXVI|UPLJHU5RERWHUYRQHWZDHLQHQ0HWHU'XUFKPHVVHUXQGGUHLLJ=HQWLPHWHUQ +|KHVFKZHEWHDXILKQ]X ª=X'LHQVWHQ©VDJWHGLH0DVFKLQHª:DVVLQG,KUH:QVFKHPHLQ+HUU"%LWWHQHQQHQ6LH,KUHQ 1DPHQ© ª.\URQ%DUUDNXQ©DQWZRUWHWH.\URQª,FKVXFKHPHLQHQ3DUWQHU(DUQ\,VWHUKLHUJHZHVHQ"© ª+LHULVWKHXWHQLHPDQGGLHVHV1DPHQVJHZHVHQ0LVWHU%DUUDNXQ©HUZLGHUWHGHU5RERWHUª,FK ELQ DOOHUGLQJV HUVW VHLW QHXQ]HKQ 6WXQGHQ LP 'LHQVW :HQQ 6LH ZLVVHQ P|FKWHQ RE +HUU (DUQ\ YRUKHUKLHUZDUGDQQNDQQLFKHLQH$QIUDJHDQGHQ+DXSWFRPSXWHUGHU6WDWLRQULFKWHQ© ª9RUKHU NDQQ HU QLFKW KLHU JHZHVHQ VHLQ© VDJWH .\URQ HLQLJHUPDHQ UDWORV GHQQ HU KDWWH DQJHQRPPHQGDVV(DUQ\YRULKPKLHUVHLQZUGH ª:QVFKHQ 6LH GLH .RQWUROOVWDWLRQ RGHU 7HLOH GDYRQ ]X EHVLFKWLJHQ 0LVWHU %DUUDNXQ"© IUDJWH GHU5RERWHUª,FKN|QQWHHLQHQ)KUXQJVURERWHUIU6LHDQIRUGHUQ© ª,FKZUGHPLFKJHUQPLWGHP+DXSWFRPSXWHUXQWHUKDOWHQ©HUNOlUWH.\URQ ,QGHP6FKZHEHURERWHUNOLFNWHHVPHKUPDOVGDQQVDJWHHU ª6DJWHQ 6LH 6LH ZROOWHQ VLFK PLW GHP +DXSWFRPSXWHU XQWHUKDOWHQ 0LVWHU %DUUDNXQ"© 'LH
%HWRQXQJ ZDU QLFKW ]X EHUK|UHQ ª)U HLQHQ QXU PLWWHOPlLJ TXDOLIL]LHUWHQ 5RERWHU ZLH GLHVHQ VFKLHQHVXQYRUVWHOOEDU]X VHLQGDVVHLQ0HQVFKXQGHLQ&RPSXWHUHLQH8QWHUKDOWXQJPLWHLQDQGHUIKUWHQ ª,FKPHLQWHNRPPXQL]LHUHQ©VDJWH.\URQ ª'DVOlVVWVLFKDUUDQJLHUHQ©HUZLGHUWHGHU5RERWHUª*HGXOGHQ6LHVLFKELWWHHLQH0LQXWH© 1DFKHWZDIQI]LJ6HNXQGHQHUNOlUWHHU ª'HU6WDWLRQVFKHI0LVWHU9UDLQ1HVNHQELWWHW6LHVLFKDOVVHLQHQ*DVW]XEHWUDFKWHQXQGZLUGLP .RQWUROOUDXP GHV +DXSWFRPSXWHUV DXI 6LH ZDUWHQ (U HQWVFKXOGLJW VLFK GDIU GDVV HU ,KQHQ QXU HLQHQ 5RERWHU VFKLFNHQ NDQQ GHU 6LH IKUHQ VROO 0HQVFKOLFKHV 3HUVRQDO VHL ]XU =HLW QLFKW HQWEHKUOLFK© ª'DQNH©HUZLGHUWH.\URQ 1DFKZHQLJHQ0LQXWHQVFKZHEWHDXIHLQHP3UDOOIHOGNLVVHQVRHWZDVZLHHLQ.RQWXUVLW]DQ1XU GLH7HOHDXJHQXQG2UWXQJVVWlEHDQGHPGLFNHQ:XOVWEHUGHU.RSIVWW]HYHUULHWHQGDVVGDV*HUlW LQ:LUNOLFKNHLWHLQ5RERWHUZDU 9RU.\URQKLHOWGHU5RERWHUDQ ª%LWWH QHKPHQ 6LH 3ODW] 0LVWHU %DUUDNXQ© VDJWH HU ª,FK ZHUGH 6LH ]XP .RQWUROOUDXP GHV +DXSWFRPSXWHUVEULQJHQ© .\URQVFKZDQJVLFKDXIGLH6LW]IOlFKHXQGOHKQWHVLFK]XUFN'HU5RERWHUVFKZHEWHDQXQGJOLWW DXI GLH VFKZDU]H .XSSHO PLWWHQ ]ZLVFKHQ GHQ ZHLHQ 6FKXW]NXSSHOQ ]X 'RUW |IIQHWH VLFK HLQ 6FKRWWXQGGHU5RERWHUVFKZHEWHPLW.\URQGXUFKHLQHQ.RUULGRUELV]XHLQHP]ZHLWHQ6FKRWW (V |IIQHWH VLFK HEHQIDOOV DXWRPDWLVFK XQG YRU .\URQ ODJ GLH +DOOH PLW GHQ .RQWUROOHQ XQG %LOGVFKLUPHQGHV+DXSWFRPSXWHUV (LQ VWlPPLJHU 0DQQ YRQ HWZD KXQGHUW -DKUHQ PLW GXQNHOEUDXQHU +DXW EOlXOLFKHQ /LSSHQ VFKZDU]HQ $XJHQ XQG PLWWHOODQJHP VFKZDU]HP +DDU LQ HLQHQ HOHJDQWHQ KHOOHQ $Q]XJ JHNOHLGHW VWDQGYRUGHQ+DXSWNRQWUROOHQXQGEOLFNWHGHP%HVXFKHUOlFKHOQGHQWJHJHQ ª:LOONRPPHQ.\URQ©ULHIHU .\URQUXWVFKWHDXVGHP6LW]XQGJLQJODQJVDPDXIGHQ6WDWLRQVFKHI]X ª,FK GDQNH IU ,KUH )UHXQGOLFKNHLW© VDJWH HU ª/HLGHU ZHL LFK QLFKW ZRPLW LFK VLH YHUGLHQW KDEH© 9UDLQ1HVNHQOlFKHOWH ª'HQNHQ6LHDQ.DQG\XQGGLHYRQ*86726RUJDQLVLHUWH'HPRQVWUDWLRQJHJHQGLH/DQGUlXEHU .\URQ 8QG GHQNHQ 6LH DQ GHQ (OHIDQWHQ DXI GHP 6LH EHU GHQ +HQU\ 7LPHQ 6TXDUH JHULWWHQ VLQG© .\URQVFKOXJVLFKPLWGHUIODFKHQ+DQGDQGLH6WLUQ ª'HU(OHIDQWHQWUHLEHU©ULHI.\URQDPVLHUWª'DVZDUHQ6LH9UDLQ6LHQDQQWHQPLFKVFKHU]KDIW 0DKDUDGVFKD$EHUZLHNDPHQ6LHYRQ&H\ORQDXIGHQ0DUV"© ª6LH PVVHQ PLFK GDPDOV IU HLQHQ :LOGHQ JHKDOWHQ KDEHQ© PHLQWH 9UDLQ 1HVNHQ OlFKHOQG ª$EHU LFK ELQ WURW] PHLQHV $XVVHKHQV QLFKW DXI &H\ORQ JHERUHQ VRQGHUQ DXI GHU 6LHGOXQJVZHOW .D\WV XQG VSlWHU QDFK *lD JHIORKHQ $OOHUGLQJV VWDPPWHQ PHLQH IHUQHQ 9RUIDKUHQ YRQ &H\ORQ 'HQ 8PJDQJ PLW (OHIDQWHQ OHUQWH LFK EHL HLQHU +\SQRVFKXOXQJ HLJHQV IU XQVHUH GDPDOLJH 'HPRQVWUDWLRQ ,Q :LUNOLFKNHLW ELQ LFK .\EHUQHWLNHU 6SH]LDOLVW IU /RJLVWLN XQG +\SHUIXQNLQJHQLHXU 'HVKDOE ERW PDQ PLU GHQ 3RVWHQ KLHU DQ XQG LFK KDEH PLFK KLHU JXW HLQJHOHEW©6HLQH0LHQHYHUGVWHUWHVLFKª1XUGLH2UELWHUKlWWHQQLFKWNRPPHQGUIHQ© ª$OOHUGLQJVQLFKW©HUZLGHUWH.\URQ ª$EHU GHVZHJHQ VLQG 6LH QLFKW KLHU .\URQ© VWHOOWH 1HVNHQ IHVW ª6LH P|FKWHQ PLW XQVHUHP +DXSWFRPSXWHUSODXGHUQ,FKKDEHQLFKWVGDJHJHQKlWWHDEHUJHUQJHZXVVWZDUXP© ª,FK ZHL HV VHOEVW QLFKW JHQDX© HUNOlUWH .\URQ ª,FK ELQ DXI GHU 6XFKH QDFK PHLQHP 3DUWQHU (DUQ\ XQG HLQHU )UDX© (U HU]lKOWH 9UDLQ 1HVNHQ GLH JDQ]H *HVFKLFKWH DXFK GLH 6DFKH PLW GHQ &RPSXWHUQGLHLKUH%HQXW]HU]X6DERWHXUHQPDFKWHQ $OV.\URQIHUWLJZDUZLVFKWHVLFK9UDLQ1HVNHQPLWHLQHP7XFKGHQ6FKZHLYRQGHU6WLUQ ª8QGLFKKDEHYRUYLHU]HKQ7DJHQEHL$U]DFKHQDHLQHQ&RPSXWHU%DXVDW]EHVWHOOW©ULHIHUDXV
ª*OFNOLFKHUZHLVH LVW HU QRFK QLFKW DQJHNRPPHQ VRQVW KlWWH LFK YLHOOHLFKW VFKRQ GLH .RQWUROOVWDWLRQJHVSUHQJW© ª:DKUVFKHLQOLFK QLFKW© HUZLGHUWH .\URQ ª(V GUIWH PLQGHVWHQV YLHU :RFKHQ GDXHUQ EHL WlJOLFKHU%HQXW]XQJGHV6HOEVWEDX&RPSXWHUVELVHLQ$QZHQGHULQ:DKQYRUVWHOOXQJHQJHWULHEHQ ZLUGGLHLKQ]XHLQHU6DERWDJHDNWLRQYHUOHLWHQ'DUILFKHXUHQ&RPSXWHUHLQPDOEHQXW]HQ"© ª6HOEVWYHUVWlQGOLFK .\URQ© HUNOlUWH 9UDLQ 1HVNHQ XQG GHXWHWH DXI GLH +DXSWNRQWUROOHQ GHV &RPSXWHUVª'KDWXVHQDLVWEHUHLW© .\URQ%DUUDNXQVHW]WHVLFKYRUGLH+DXSWNRQWUROOHQGDQQGUHKWHHUVLFKQRFKHLQPDOXPOlFKHOWH XQGVDJWH ª6RVSUDFK'KDWXVHQD]X.DVVDSDLQGHPHUDXIGHQ.DODYDSLVWDXVHHZLHV'LHVR)UHXQGHLVWDOO PHLQ5HLFKWXP© ª'XNHQQVWGLH*HVFKLFKWH"© .\URQQLFNWH ª:HUOlQJHUDOVHLQ9LHUWHOMDKUDXI&H\ORQOHEWK|UWXQGVLHKWYLHOHVYRQGHUODQJHQXQGJURHQ *HVFKLFKWHGLHVHU,QVHOXQGVHLQHU%HZRKQHU© (UZDQGWHVLFKHQGJOWLJGHQ.RQWUROOHQ]X .\URQ %DUUDNXQ ZDU EHUUDVFKW DOV HU HQWGHFNWH GDVV GHU &RPSXWHU 'KDWXVHQD HLQH DXWDUNH 3HUV|QOLFKNHLW EHVD )U LKQ ZDU GDV ]ZDU QLFKWV 8QJHZ|KQOLFKHV DEHU IU GLH 7HUUDQHU VWHOOWHQ &RPSXWHU PLW 3HUV|QOLFKNHLW GLH VHOWHQH $XVQDKPH GDU )DVW DOOH 0HQVFKHQ XQG DXFK IDVW DOOH $QJHK|ULJHQDQGHUHU9|ONHUVFKHXWHQGDYRU]XUFN&RPSXWHUQ3HUV|QOLFKNHLW]X ]XJHVWHKHQ 6LH ZDUHQ ]X XQVLFKHU XP PLW &RPSXWHUQ ]XVDPPHQ]XDUEHLWHQ GLH QLFKW EORH :HUN]HXJH VRQGHUQ 3DUWQHU ZDUHQ 'HVKDOE YHUKWHWHQ VLH NRQVWUXNWLRQVPlLJ GLH %LOGXQJ YRQ &RPSXWHUSHUV|QOLFKNHLWHQ )U.\URQZDUGLH(QWGHFNXQJHLQHIUHXGLJHhEHUUDVFKXQJGHQQHLQ&RPSXWHUPLWLQGLYLGXHOOHU 3HUV|QOLFKNHLW JDE LKP GLH 0|JOLFKNHLW DXFK RKQH %HQXW]XQJ HLQHU 6(57+DXEH LQ LKQ ªHLQ]XVWHLJHQ©PLWDOOHQVLFKGDUDXVHUJHEHQGHQ9RUWHLOHQ (UZDUVFKRQKDOEªGULQ©DOVLKPHLQILHOGDVVVHLQ9RUJHKHQQLFKWGHQ5HJHOQGHU+|IOLFKNHLW HQWVSUDFK ª(QWVFKXOGLJH© VDJWH HU XQG ZXUGH VLFK JDU QLFKW EHZXVVW GDVV HU HV QLFKW ZLUNOLFK VDJWH VRQGHUQQXUGDFKWHXQGGHQQRFKHLQH5HVRQDQ]HU]HXJWH ª:LOONRPPHQ.LG©HUZLGHUWHGHU&RPSXWHUXQGDXFKHU VSUDFKQLFKWGD.\URQ EHUHLWVHLQH JHLVWLJH 9HUELQGXQJ PLW LKP HLQJHJDQJHQ ZDU ª'X EUDXFKVW GLFK QLFKW ]X HQWVFKXOGLJHQ =XP HUVWHQPDO HUOHEH LFK GLH XQPLWWHOEDUH .RPPXQLNDWLRQ PLW HLQHU RUJDQLVFKHQ ,QWHOOLJHQ] 9UDLQ 1HVNHQ KDW ]ZDU GDIU JHVRUJW GDVV LFK HLQH 3HUV|QOLFKNHLW EHNDP DEHU HU LVW QLFKW LQ GHU /DJH JHLVWLJPLWPLU]XYHUVFKPHO]HQ(VLVWHLQZXQGHUEDUHV(UOHEQLV© ª)UPLFKDXFK©HUZLGHUWH.\URQ%DUUDNXQEHUVFKZlQJOLFKª,FKIKOHPLFKIDVWVRJHERUJHQ ZLHLQPHLQHUHUVWHQ:HOWHLQHPODULVFKHQ&RPSXWHUVFKLIIZHLWGX© ª,FKZHLHV.LG©GDFKWHGHU&RPSXWHUª'HLQH(ULQQHUXQJHQOLHJHQRIIHQYRUPLU'XPVVWHVW PHLQH(ULQQHUXQJHQDXFKVLFKWHQN|QQHQZHQQGXHVZLOOVW© .\URQ NRQ]HQWULHUWH VLFK GDUDXI LQ GLH (ULQQHUXQJHQ GHV &RPSXWHUV HLQ]XVWHLJHQ (U ZDU DOOHUGLQJV GDYRQ HQWWlXVFKW GHQQ HUVWHQV ZDU GLH 3HUV|QOLFKNHLW GLHVHV &RPSXWHUV HUVW HLQ KDOEHV -DKUDOWXQG]ZHLWHQVEHVWDQGHQVHLQH(ULQQHUXQJHQQXUDXV]DKOORVHQJHVSHLFKHUWHQ'DWHQDXVGHP %HUHLFK.RQWUROOH:DU WXQJXQGORJLVWLVFKH9HUVRUJXQJGHUEHWUHXWHQ6DWHOOLWHQ (UYHUVXFKWHVHLQH(QWWlXVFKXQJ]XYHUEHUJHQDEHUHVJHODQJLKPQLFKWVFKQHOOJHQXJ ª6FKDGHGDVVLFKGLUQLFKWPHKUELHWHQNDQQ.LG©PHLQWHGHU&RPSXWHUª'HLQH(ULQQHUXQJHQ
VLQGVRYLHOIlOWLJVRIDUELJVROHEHQGLJXQGVRVWDUNHPRWLRQDOLVLHUWGDVVHVPLFKIDVWEHUZlOWLJW 0HLQH(ULQQHUXQJHQGDJHJHQVLQGWULVWXQGHPRWLRQVORV© ª6LH N|QQWHQ GHQQRFK ZHUWYROO VHLQ© HUZLGHUWH .\URQ ª'X NHQQVW PHLQH (ULQQHUXQJHQ XQG GDPLW DXFK PHLQ GHU]HLW JU|WHV 3UREOHP ,FK ILQGH HLQIDFK NHLQHQ $QVDW]SXQNW IU ZHLWHUH (UPLWWOXQJHQ9LHOOHLFKWZHLWGXHWZDVGDVPLUZHLWHUKLOIW,FKZUGHHVZDKUVFKHLQOLFKHUVWQDFK OlQJHUHU =HLW ILQGHQ GHQQ RKQH 6(57+DXEH ILQGH LFK PLFK QXU PKVDP GXUFK 7ULOOLDUGHQ YRQ 'DWHQGXUFK© ª'XEUDXFKVWNHLQH6(57+DXEHZHQQGXHLQHQ&RPSXWHUPLW3HUV|QOLFKNHLW]XP)UHXQGKDVW .LG© WHLOWH LKP GHU &RPSXWHU PLW ª:DUXP KDVW GX GLU HLJHQWOLFK NHLQHQ &RPSXWHU PLW 3HUV|QOLFKNHLWIUGHLQ%URDQJHVFKDIIW"© .\URQIKOWHVLFKYHUOHJHQ ª,FKKDEHGDIUHLQHQ5RERWHUPLW3HUV|QOLFKNHLW© ª8QG PLW HLQHP KlVVOLFKHQ bXHUHQ GDV LQ GLU NHLQHQ 9HUJOHLFK PLW GHLQHU HUVWHQ :HOW DXINRPPHQ OlVVW +DVW GX GLU GHVKDOE NHLQHQ &RPSXWHU PLW 3HUV|QOLFKNHLW EHVFKDIIW GDPLW GLH VFKPHU]KDIWH (ULQQHUXQJ DQ GHQ 9HUOXVW GHLQHU HUVWHQ :HOW QLFKW GDGXUFK HUOLVFKW GDVV LKU ZHQLJVWHQVWHLOZHLVHHLQ1DFKIROJHUHQWVWHKW"© ª:DKUVFKHLQOLFK MD© JDE .\URQ ]X ª$EHU YHUJLVV QLFKW GDVV GLHVH HUVWH :HOW PHLQ DOOHV ZDU PHLQ8QLYHUVXPXQGPHLQ0XWWHUVFKR'LH(ULQQHUXQJGDUDQVROOQLHPDOVYHUEODVVHQDXFKZHQQ HVPLFKLPPHUVFKPHU]WZHQQLFKDQGHQ9HUOXVWGHQNH© ª'LHVHV7UDXPDZLUGHLQHV7DJHVYHUVFKZLQGHQ.LG©PHLQWHGHU&RPSXWHUª%HIDVVHQZLUXQV KHXWH PLW GHLQHP 3UREOHP =XHUVW IRUVFKH LFK LQ GHQ 6SHLFKHUGDWHQ QDFK RE ZLU GDV KHLW XQVHUH )LUPD MHPDOV 7ULVRQLXP ]X HLQHU 2UELWDOVWDWLRQ JHEUDFKW KDEHQ 1HLQ GDV ZDU QLFKW GHU )DOO +RZDOJRQLXP GDJHJHQ ZXUGH QDFK REHQ EHI|UGHUW DEHU QXU JHULQJH 0HQJHQ IU GLH (QGVRUWLHUVWDWLRQPLWGLHVHQ8QPHQJHQYRQ&RPSXWHUWHLOHQ© ª:XUGHLQOHW]WHU=HLWHLQXQJHZ|KQOLFKHU$XIWUDJGXUFKJHIKUW"©ZROOWH.\URQZLVVHQ ª(LQXQJHZ|KQOLFKHU$XIWUDJQHLQ'DVKHLWHWZDV8QJHZ|KQOLFKHVKDWHV]ZDUJHJHEHQDEHU GDV ZDU JHQDX GDV *HJHQWHLO HLQHU $XIWUDJVHUWHLOXQJ (LQ 0LVWHU 0XORQJ +HL]] XQG HLQ 0LVWHU 7HUIIHQ6FKDPLVVFKO|VVHQHLQH9HUHLQEDUXQJPLWGHU'LUHNWLRQGDVVLKU([SHULPHQWDOVDWHOOLWQLFKW PHKU YRQ XQVHUHU )LUPD VRQGHUQ YRQ LKQHQ VHOEVW JHZDUWHW ZLUG EHL :HLWHU]DKOXQJ GHV +RQRUDUV© ª'DV LVW VLFKHU XQJHZ|KQOLFK© HUZLGHUWH .\URQ ª-HPDQG YHU]LFKWHW DXI HLQH 'LHQVWOHLVWXQJ ]DKOWDEHUGDV+RQRUDUGDIUZHLWHU© ª$XIHLQHDQGHUH5HJHOXQJKlWWHQZLUXQVQLFKWHLQJHODVVHQ.LG:LUKDEHQGLHVWDDWOLFKH/L]HQ] IUGLH.RQWUROOH:DUWXQJXQGORJLVWLVFKH%HWUHXXQJDOOHU6DWHOOLWHQLQHLQHP9LHUWHODOOHUIU0DUV ]XJHODVVHQHQ 2UELWDOSRVLWLRQHQ YRQ GHQHQ DOOHUGLQJV HUVW VHFK]HKQ 3UR]HQW EHVHW]W VLQG :LU N|QQHQGLHVH/L]HQ]DQ.XQGHQZHLWHUJHEHQPVVHQHVDEHUQLFKW© ª$EHU ZDUXP ZROOWHQ GLH %HWUHLEHU GHV ([SHULPHQWDOVDWHOOLWHQ HXUH 'LHQVWH QLFKW LQ $QVSUXFK QHKPHQ"©IUDJWH.\URQYHUZXQGHUW ª)XUFKWYRU'DWHQGLHEVWDKO©HUNOlUWHGHU&RPSXWHUª:DUWXQJVURERWHUN|QQHQVRDXVJHUVWHWXQG SURJUDPPLHUW ZHUGHQ GDVV VLH IUHPGH 'DWHQVSHLFKHU XQEHPHUNW DQ]DSIHQ :HU ([SHULPHQWH EHWUHLEWP|FKWHQLFKWGDVVGLH$XI]HLFKQXQJHQGDUEHULQGLH+lQGHGHU.RQNXUUHQ]JHUDWHQVR GDVVVLHYLHOOHLFKWIUKHU GDVDQJHVWUHEWH(QGSURGXNWDXIGHQ0DUNWEULQJWXQGGDEHLGLH(QWZLFNOXQJVNRVWHQHLQVSDUW© ª'DVVHKHLFKHLQ©PHLQWH.\URQ%DUUDNXQª'XZHLWQLFKW]XIlOOLJXPZDVIU([SHULPHQWHHV VLFKKDQGHOW"© ª1HLQDEHULFKNDQQHVPLUGHQNHQ0XORQJ+HL]]LVWQlPOLFK&RPSXWHUSURJUDPPNRQVWUXNWHXU 6SH]LDOJHELHW +\SHULQSRWURQLNHQ XQG 7HUIIHQ 6FKDPLV LVW &RPSXWHUSV\FKRORJH 'D ZDU QRFK HWZDV 'LH EHLGHQ +HUUHQ VWHKHQ LQ UHJHP .RQWDNW PLW HLQHP .RQVWUXNWLRQVEUR GDV K\SHULQSRWURQLVFKH=XVDW]HOHPHQWHIU3RVLWURQLNHQHQWZLUIW'DVGUIWHEULJHQVGDV*HVFKlIWGHU =XNXQIW VHLQ 0LW K\SHULQSRWURQLVFKHQ =XVDW]HOHPHQWHQ OlVVW VLFK GLH 4XDOLWlW JHZ|KQOLFKHU
&RPSXWHU QlPOLFK JHZDOWLJ HUK|KHQ 'D NDXP %HGDUI IU NRPSOHWWH +\SHULQSRWURQLNHQ EHVWHKW GLH VLFK DXFK QXU ZHQLJH )LUPHQ OHLVWHQ N|QQWHQ DQGHUHUVHLWV DEHU GLH KHXWLJH &RPSXWHUJHQHUDWLRQQLFKWPHKUDOOHQ$QIRUGHUXQJHQJHQJWELHWHWVLFKGLH0|JOLFKNHLWJHUDGH]X DQ QRUPDOH &RPSXWHU GXUFK $XVVWDWWXQJ PLW K\SHULQSRWURQLVFKHQ =XVDW]HOHPHQWHQ XP HLQ 9LHOIDFKHVOHLVWXQJVIlKLJHU]XPDFKHQXQGGDIUQXUHWZDHLQ7DXVHQGVWHOGHU6XPPHDXV]XJHEHQ GLHGLH$QVFKDIIXQJHLQHUNRPSOHWWHQ+\SHULQSRWURQLNNRVWHQZUGH© ª'XEHJHLVWHUVWGLFKMDJHUDGH]XDQGLHVHU0|JOLFKNHLW© ª-D ZHLO 9UDLQ 1HVNHQ K\SHULQSRWURQLVFKH =XVDW]HOHPHQWH IU PLFK EHVWHOOW KDW EHL GLHVHU )LUPD ,13275216<67(0( PLW GHU 6FKDPLV XQG +HL]] ]XVDPPHQDUEHLWHQ (V LVW EULJHQV HLQH(LQPDQQ)LUPDXQG%\ULOOD,PSOHUVFKHLQWDXHUJHZ|KQOLFKWFKWLJ]XVHLQ© .\URQ %DUUDNXQ KDWWH GDV *HIKO HLQ 6WURPVWR MDJH GXUFK VHLQHQ .|USHU %HLQDKH ZlUH HU ªKLQDXVJHVFKOHXGHUW©ZRUGHQDXVGHP&RPSXWHU ª(QWVFKXOGLJH.LG©PHOGHWHVLFKGHU&RPSXWHU JOHLFKGDUDXIª,FKKDWWHGHQ1DPHQLQGHLQHQ(ULQQHUXQJHQEHPHUNWDEHUQLFKWPLWGHUQ|WLJHQ $XIPHUNVDPNHLWDXIGHQ=XVDPPHQKDQJJHDFKWHW(VZDUGHU5DXVFKGLHUDXVFKDUWLJH)UHXGHEHU XQVHUHQ.RQWDNW© ª0DFKGLUNHLQH9RUZUIH©HUZLGHUWH.\URQª6HLIURKGDUEHUGDVVZLUHQGOLFKHLQH6SXU]X &DULOGDXQG]XGHQ7ULVRQLXPGLHEHQJHIXQGHQKDEHQ6HKUZDKUVFKHLQOLFKVLQG0XORJJ+HL]]XQG 7HUIIHQ 6FKDPLV GLH $XIWUDJJHEHU EH]LHKXQJVZHLVH .RPSOL]HQ %\ULOOD ,PSOHUV +lQJW GHU +DXSWFRPSXWHULKUHV([SHULPHQWDOVDWHOOLWHQDPVRODUHQ&RPSXWHUYHUEXQGQHW]"© ª-D:DVKDVWGXYRU.LG"© ª,FKPXVVKLQHLQLQGHQ6DWHOOLWHQPHLQHLFK'DLFKQLFKWKLQIOLHJHQXQGPLFKXPVHKHQNDQQ EHQXW]HLFKVHLQHQ+DXSWFRPSXWHUDOV(LQJDQJhEHULKQNDQQLFKDOOHVHUIDKUHQZDVLP6DWHOOLWHQ YRUJHKW© ª$EHUVRHWZDVLVWXQJHVHW]OLFK.LG© ª'HQQRFK LVW HV XQXPJlQJOLFK 'X PXVVW PLU =XWULWW ]XP +DXSWFRPSXWHU GHV 6DWHOOLWHQ YHUVFKDIIHQ GHQQ HV ZUGH ]XYLHO =HLW NRVWHQ ZHQQ LFK QDFK 7HUUDQLD &LW\ ]XUFNNHKUWH XQG PHLQHQ&RPSXWHUDQVFKOXVVXQGPHLQH6(57+DXEHEHQXW]WH© ª,FK GDUI QLFKWV 8QJHVHW]OLFKHV WXQ .LG© HUZLGHUWH GHU &RPSXWHU ª*HQDXVR ZLH LFK QLFKW JHJHQGLH$VLPRYVFKHQ5RERWHUJHVHW]HYHUVWRHQGDUI© ª1DDOVR©HUZLGHUWH.\URQª,PHUVWHQ5RERWHUJHVHW]KHLWHVGDVVHLQ5RERWHUXQG&RPSXWHU JHK|UHQ ]XU JOHLFKHQ .DWHJRULH QLHPDOV GXUFK VHLQ 1LFKWKDQGHOQ ]XODVVHQ GDUI GDVV HLQHP PHQVFKOLFKHQ :HVHQ 6FKDGHQ ]XJHIJW ZLUG 'D &DULOGD HLQ PHQVFKOLFKHV :HVHQ LVW XQG GLH 7ULVRQLXPGLHEHLKU6FKDGHQ]XIJHQZHUGHQZHQQLFKVLHQLFKWEHIUHLHXQGLFKVLHQLFKWEHIUHLHQ NDQQ RKQH GHQ 6DWHOOLWHQ DXV]XVSLRQLHUHQ ZDV QXU PLW GHLQHU +LOIH P|JOLFK LVW ELVW GX YHUSIOLFKWHWPLUGLHVH+LOIH]XJHZlKUHQ© ª'DVVWLPPW©PHLQWHGHU&RPSXWHUª$EHUZLHLVWHV P|JOLFKGDVVLFKHLQ*HVHW]EHUWUHWHQPXVVXPHLQZLFKWLJHUHV*HVHW]]XHUIOOHQ"© ª(V NRPPW GDKHU GDVV GLH *HVHW]H YRQ 0HQVFKHQ JHPDFKW VLQG© HUNOlUWH .\URQ ª8QG 0HQVFKHQVLQGQXQHLQPDONHLQH6XSHULQWHOOLJHQ]HQ© ª'DV LVW PLU NODU .LG ,FK ZHUGH GLU GHQ (LQVWLHJ HUP|JOLFKHQ LQGHP LFK HLQH $QIUDJH YRP +DXSWFRPSXWHUGHU)UHTXHQ]NRQWUROOHGHU=HQWUDOSRVWYHUZDOWXQJ0DUVYRUWlXVFKH)DVWDOOHJURHQ %HQXW]HUYRQ+\SHUXQG1RUPDOIXQNHLQULFKWXQJHQVHQGHQXQGHPSIDQJHQRIWDXI)UHTXHQ]HQGLH DQGHUHQ %HQXW]HUQ ]XJHWHLOW VLQG ,KUH LKQHQ ]XJHWHLOWHQ )UHTXHQ]HQ VLQG YLHOIDFK EHUODVWHW GHVKDOEZHLFKHQVLHHEHQDXI)UHTXHQ]HQDXVGLHJHUDGHQLFKWDXVJHODVWHWVLQG'DGDVYHUERWHQLVW KDEHQVLHLPPHUJOHLFKHLQVFKOHFKWHV*HZLVVHQZHQQGLH)UHTXHQ]NRQWUROOHDQUXIW'DVEHUWUlJW VLFKQDWUOLFKDXFKDXILKUH&RPSXWHU© ª,QGLHVHP)DOOVHJQHLFKGLHWHUUDQLVFKH%URNUDWLH©PHLQWH.\URQ%DUUDNXQª)DQJELWWHDQ© (UNDPQLFKWZHLW ,QGHP$XJHQEOLFNLQGHPHUPLWGHQ,PSXOVHQGHV'KDWXVHQDFRPSXWHUVLQGDV,PSXOVJHZLUUGHV ([SHULPHQWDOVDWHOOLWHQKDXSWFRPSXWHUVHLQGUDQJHUNDQQWHHULKQDOVMHQHQKRFKZHUWLJHQ&RPSXWHU
EHU GHQ MHPDQG YRU HLQLJHQ 7DJHQ VHLQH /DXVFKWlWLJNHLW UHJLVWULHUW XQG VLFK DQJHVFKLFNW KDWWH VHLQHQ7HUPLQDO]XLGHQWLIL]LHUHQ 'HU 6FKRFN GDUEHU OLH LKQ ª]XUFN]XFNHQ© 'LH 9HUELQGXQJ PLW GHP +DXSWFRPSXWHU GHV 6DWHOOLWHQULDEXQGDXFKGHU'KDWXVHQDFRPSXWHUXQWHUEUDFKVHLQHQ.RQWDNW ª,FK HUNHQQH ZDV GLFK VR HUVFKUHFNW KDW .LG© WHLOWH HU ZHQLJ VSlWHU PLW ª$EHU GHVKDOE EUDXFKWHVWGXGLFKQLFKW]XUFN]X]LHKHQ© ª'LH9HUEUHFKHUKDEHQGDPDOVDOVRPHLQHQ7HUPLQDOGRFKLGHQWLIL]LHUW©EHUOHJWH.\URQª8QG LFKELQ VHOEVW VFKXOG GDUDQ ,FK KDEH PHLQHQ 7HUPLQDO LQ GHP $XJHQEOLFN DXVJHVFKDOWHW LQ GHP GLH 9HUEUHFKHUQDFKPLU]XVXFKHQDQILQJHQ1DWUOLFKPVVHQVLHPLWLKUHPKRFKZHUWLJHQ&RPSXWHU LQ GHU /DJH JHZHVHQ VHLQ JHQDX GHQ 7HUPLQDO KHUDXV]XILQGHQ GHVVHQ %HQXW]HU LQQHUKDOE HLQHU =HLWVSDQQHGLHQXU0LOOLVHNXQGHQEHWUXJUHDJLHUWH (UVW GDGXUFK ZXVVWHQ VLH GDVV LFK LKQHQ DXI GHU 6SXU ZDU 'DQQ KDEHQ VLH &DULOGD DXFK QLFKW GHVZHJHQ HQWIKUW ZHLO VLH LKQHQ DXI GLH6SXUJHNRPPHQ ZDU .ODU VLH ZDU MD DXFK QLFKW KLQWHU LKQHQKHUVRQGHUQKLQWHUGHQ'UDKW]LHKHUQGHU6DERWDJHDNWH6LHQDKPHQVLHDOV*HLVHOXPPLFK XQWHU'UXFNVHW]HQ]XN|QQHQZHQQVLHJODXEWHQLFKZUGHLKQHQJHIlKUOLFK© ª$EHU GLHVH 6HOEVWYRUZUIH VLQG GRFK XQDQJHEUDFKW .LG 'HQNH OLHEHU GDUDQ ZLH GX &DULOGD ILQGHVW XQG EHIUHLVW 'X KlWWHVW GLFK QLFKW ]XUFN]LHKHQ PVVHQ GHQQ GHU +DXSWFRPSXWHU GHV 6DWHOOLWHQ ZXUGH QLFKW YRQ HLQHP 0HQVFKHQ EHGLHQW (U ZDU DOOHLQ XQG DOOHLQ NDQQ HU GHLQH /DXVFKWlWLJNHLWQLFKWUHJLVWULHUHQXQGGLFKDXFKQLFKWDXIVSUHQ© ª7DWVlFKOLFKHUZDUDOOHLQ$OVRQRFKHLQPDOGDVVHOEH6SLHO© $EHUPDOV WUDW GHU 'KDWXVHQDFRPSXWHU LQ $NWLRQ (V ZDU HLQHP &RPSXWHU JHJHQEHU NHLQ 3UREOHP GLH 8QWHUEUHFKXQJ DOV WHFKQLVFKH 3DQQH GDU]XVWHOOHQ GD &RPSXWHU YRQ VLFK DXV QLFKW PLVVWUDXLVFKVHLQN|QQHQ :DV QXQ JHVFKDK KlWWH VLFK PLW NHLQHU WHFKQLVFKHQ $SSDUDWXU EHNDQQWHU =LYLOLVDWLRQHQ GXUFKIKUHQODVVHQ1XU.\URQ%DUUDNXQGHUVRVWDUNYRQHLQHP&RPSXWHUJHSUlJWZRUGHQZDUZLH HLQ7LHUGDVYRPHUVWHQ$WHP]XJDQQLFKWVDQGHUHVJHVHKHQKDWDOVHLQHQ0HQVFKHQXQGGDVVLFK XQWHUEHVWLPPWHQSK\VLVFKHQXQGSV\FKLVFKHQ9RUDXVVHW]XQJHQZLHGLHVHU0HQVFKJLEW .\URQV *HLVW ªVSUDQJ© YRQ GHQ ,PSXOVHQ GHV 'KDWXVHQDFRPSXWHUV DXI GLH ,PSXOVH GHV +DXSWFRPSXWHUVGHV6DWHOOLWHQXQGYHUEDUJVLFKGRUW'DVDOOHUGLQJVJH ODQJ LKP QXU ZHLO GHU IUHPGH &RPSXWHU NHLQH HLJHQH 3HUV|QOLFKNHLW EHVD $XI GHQ ,PSXOVHQ MDJWHHULQUDVHQGHP7HPSRGXUFKDOOH6FKDOWXQG6SHLFKHUHOHPHQWHGHV&RPSXWHUVQDKPZLQ]LJH 0DQLSXODWLRQHQYRUXQGJHODQJWHGDGXUFKLQGDV+DXSWVWHXHUHOHPHQW 8QGKLHUVDHUSO|W]OLFKIHVW (V ZDU HLQH WHXIOLVFKH )DOOH ZLH .\URQ %DUUDNXQ VRIRUW HUNDQQWH 'DV +DXSWVWHXHUHOHPHQW ZDU HLQ VHSDUDWHV 3RVLWURQHQJHKLUQ GDV GLH EULJHQ SRVLWURQLVFKHQ (OHPHQWH GHV +DXSWFRPSXWHUV VWHXHUWH$EHUHVEHVDGUHLKRFKZHUWLJHK\SHULQSRWURQLVFKH=XVDW]HOHPHQWHGLHDOOHUGLQJVEHLGHU QRUPDOHQ7lWLJNHLWGHV+DXSWFRPSXWHUVLQDNWLYEOLHEHQ6LHZXUGHQQXUIUGLH$EVWUDKOXQJHLQHV EHVWLPPWHQ 3URJUDPPV DNWLYLHUW EH]LHKXQJVZHLVH DNWLYLHUWHQ VLH VLFK VHOEVW ZHQQ GLH .RQWUROOVHQVRUHQ LKUHU %LRSRQEO|FNH GLH 6WUHXVWUDKOXQJ HLQHU EHUJHRUGQHWHQ .RQVWDQWH IHVWVWHOOWHQGLHVLFKGHU)XQNWLRQVLPSXOVHGHV&RPSXWHUVDOV7UlJHUPHGLXPEHGLHQWH 8QG GHU VHFKVGLPHQVLRQDOH $QWHLO GHV PHQVFKOLFKHQ *HLVWHV DXFK h%6().RQVWDQWH JHQDQQW ZDU HLQH VROFKH EHUJHRUGQHWH .RQVWDQWH 'LHVHQ )DNWRU DOOHLQ KDWWH .\URQ ªDXI GLH 5HLVH© VFKLFNHQN|QQHQGDQXUHUORVJHO|VWYRP.|USHUH[LVWLHUHQNRQQWH 'LH $NWLYLHUXQJ GHU K\SHULQSRWURQLVFKHQ =XVDW]HOHPHQWH DEHU ELOGHWH DXI GLPHQVLRQDO EHUJHRUGQHWHU (EHQH HLQ LQ VLFK JHVFKORVVHQHV )HOG GDV IU GLH h%6().RQVWDQWH .\URQV ]XP *HIlQJQLVZXUGH 8PHVYHUHLQIDFKHQGXQGZLVVHQVFKDIWOLFKQLFKWH[DNWDXV]XGUFNHQ.\URQV6HHOHZDU]XP *HIDQJHQHQGHV+DXSWVWHXHUHOHPHQWVJHZRUGHQ *OHLFK]HLWLJDEHUIDQG.\URQLQGHQ6SHLFKHUIHOGHUQGHUK\SHULQSRWURQLVFKHQ=XVDW]HOHPHQWHGLH ,QIRUPDWLRQ YRU ZR &DULOGD 7RGD\ JHIDQJHQJHKDOWHQ ZXUGH LQ HLQHP 5DXP GHV
9HUZDOWXQJVJHElXGHVYRQ,QWHUSODQHWDU\0LQHUDOV/WGLQGHU&LW\YRQ0DUVSRUW 8QGQRFKHLQHDQGHUH,QIRUPDWLRQHUKLHOWHU(DUQ\ KDWWH ZDKUVFKHLQOLFK KHUDXVJHIXQGHQ GDVV 0XORQJ +HL]] XQG 7HUIIHQ 6FKDPLV PLW GHP 9HUVFKZLQGHQ GHV 7ULVRQLXPV ]X WXQ KDWWHQ 'HVKDOE ZDU HU XQWHUZHJV ]XU 6DWHOOLWHQ .RQWUROOVWDWLRQ JHZHVHQ 2IIHQEDU KDWWH HU JHKRIIW GRUW $XVNQIWH EHU GHQ ([SHULPHQWDO 6DWHOOLWHQ]XEHNRPPHQXQG%\ULOOD,PSOHUKDWWHGHQ$XIWUDJJHKDEWLKQDXIHLQHIDOVFKH6SXUXQG LQHLQH)DOOH]XORFNHQ $EHU GLHVH (UNHQQWQLVVH QW]WHQ .\URQ %DUUDNXQ QLFKWV 'HU VHFKVGLPHQVLRQDOH $QWHLO VHLQHV *HLVWHV ZDU QLFKW QXU LP +DXSWFRPSXWHU GHV ([SHULPHQWDOVFKLIIV JHIDQJHQ VRQGHUQ DXFK YRQ VHLQHP .|USHU XQG GHQ DQGHUHQ .RPSRQHQWHQ VHLQHV *HLVWHV DEJHVFKQLWWHQ GLH VLFK LQ GHU 6DWHOOLWHQ.RQWUROOVWDWLRQEHIDQGHQ (DUQ\V 6LPXOWDQVWHXHUXQJ IXQNWLRQLHUWH SO|W]OLFK ZLHGHU 'DGXUFK NRQQWHQ VHLQH 'HQNSUR]HVVH GLH LQIROJH GHU DXVJHIDOOHQHQ .RRUGLQLHUXQJ VHLQHU GUHL 3RVLWURQLNHQ GUHLJHWHLOW JHZHVHQ ZDUHQ ZLHGHUHLQKHLWOLFKDUEHLWHQ (UVWGDGXUFKZDUHULQGHU/DJHHLQ]XVHKHQGDVVHUVHLWXQJHIlKUHLQHP7DJH)HKOHUEHU)HKOHU EHJDQJHQKDWWH1LFKWQXUGDVVHU%\ULOOD,PSOHURKQH$EVWLPPXQJPLW.\URQHLQJHVWHOOWKDWWHHU ZDUVHLQHP3DUWQHUDXFKGLHhEHUPLWWOXQJZLFKWLJHU,QIRUPDWLRQHQVFKXOGLJJHEOLHEHQ ª:DVKDEHQ6LH(DUQ\"©IUDJWHHLQHZHLEOLFKH6WLPPHª,KUH$XJHQVHKHQIXUFKWHUUHJHQGDXV© 'DVUL(DUQ\DXVVHLQHU6HOEVWEHWUDFKWXQJ(UZDQGWHGHQ.RSIQDFKOLQNVXQGVDK%\ULOOD,PSOHU DQGLHKLQWHUGHQ.RQWUROOHQHLQHU5DXPIlKUHVD 6FKRQ ZROOWH HU LKU ZDKUKHLWVJHPl DQWZRUWHQ GD ILHO LKP ZLHGHU HLQ GDVV HU GHU QHXHQ 0LWDUEHLWHULQELVKHUQLFKWYHUUDWHQKDWWHZHUHUZLUNOLFKZDU2GHU ZDV HU ZLUNOLFK ZDU (U EHVFKORVV GDPLW QRFK ]X ZDUWHQ ELV .\URQ GHU (LQVWHOOXQJ %\ULOODV ]XJHVWLPPWKDWWH ª,FKZlO]WHHLQLJHSULYDWH3UREOHPH%\ULOOD©HUZLGHUWHHUGHVKDOEª$EHUVLHVLQGQLFKWZLFKWLJ IUXQVHUH$UEHLW0VVWHQZLUQLFKWEDOGDP([SHULPHQWDOVFKLIIDQOHJHQ"© ª,Q ZHQLJHU DOV IQI 0LQXWHQ© HUZLGHUWH %\ULOOD ,PSOHU XQG GHXWHWH DXI GLH 7DVWHUUHVRQDQ]DQ]HLJHDXIGHULQLPPHUNU]HUHQ$EVWlQGHQHLQKHOOHU/LFKWSXQNWEOLQNWH ª,FK IUDJH PLFK RE ZLU QLFKW GRFK OLHEHU ]XHUVW EHLP 'LUHNWRU GHU 6DWHOOLWHQ.RQWUROOVWDWLRQ KlWWHQ QDFKIUDJHQ VROOHQ© PHLQWH (DUQ\ ª:LH KDEHQ 6LH QXU GHQ /HLWHU GHV )lKUKDIHQV GD]X JHEUDFKW XQV GLH )lKUH ]XU 9HUIJXQJ ]X VWHOOHQ GLH HLJHQWOLFK 9HUSIOHJXQJ IU GHQ 9HUVDQGVDWHOOLWHQKLQDXIEULQJHQVROOWH"© %\ULOOD,PSOHUOlFKHOWHHLQZHQLJDUURJDQWXUWHLOWH(DUQ\ ª,FK KDEH LKP VFK|QH $XJHQ JHPDFKW XQG PLFK IU EHUPRUJHQ YRQ LKP ]XP (VVHQ HLQODGHQ ODVVHQ6LHVHKHQHVKDWJHZLVVH9RUWHLOHHLQH)UDX]XVHLQ(DUQ\© ª$EHU6LHZHUGHQGLH9HUDEUHGXQJQLFKWHLQKDOWHQ© ª1DWUOLFKQLFKW© ª2EZRKOGHU0DQQVHLQH6WHOOXQJIU6LHULVNLHUWKDW©(DUQ\YHUVWDQGLPPHUZHQLJHUZDUXPHU %\ULOOD,PSOHUHLQJHVWHOOWKDWWH6LHZDUNDOWXQGKDWWHHLQ]XZHLWHV*HZLVVHQ 'LH %UHPVWULHEZHUNH VHW]WHQ HLQ XQG OLHHQ GLH 5DXPIlKUH YLEULHUHQ $Q GHQ $Q]HLJHQ ZDU ]X HUNHQQHQ GDVV VLH ODQJVDP DQ +|KH YHUORU XQG VLFK JOHLFK]HLWLJ GLH (QWIHUQXQJ ]XP =LHO YHUULQJHUWH :HQLJ VSlWHU WDXFKWH VFKUlJ XQWHU GHU )lKUH HLQ ZDO]HQI|UPLJHV 2EMHNW DXI GHVVHQ GHU )lKUH ]XJHZDQGWH 6HLWH GDV /LFKW HLQHU 2UELWDOHQ .XQVWVRQQH UHIOHNWLHUWH =XHUVW GDFKWH (DUQ\ HV KDQGHOWHVLFKXPHLQ :DO]HQUDXPVFKLII GHU *DODNWLVFKHQ +lQGOHU GRFK GDQQ HUNDQQWH HU DQ GHU KRFKJHZ|OEWHQ
.RPPDQGRNXSSHODXIGHU2EHUVHLWHGHVYRUGHUHQ'ULWWHOVGDVVHVVLFKXPHLQ*URNDPSIVFKLIIGHU hEHUVFKZHUHQKDQGHOWH ª'DV LVW DOVR GLH ([SHULPHQWDOVWDWLRQ© PHLQWH HU ª*HKHQ 6LH HWZDV PHKU QDFK 6WHXHU RGHU %DFNERUG XQG HWZDV WLHIHU %\ULOOD 'LH 0DQQVFKOHXVHQ GLHVHU 6FKLIIH EHILQGHQ VLFK DXI PLWWOHUHU 5XPSIK|KH© $OV%\ULOODQLFKWHQWVSUHFKHQGUHDJLHUWHVDKHUVLHSUIHQGDQ ª:LUVROOWHQDXHUGHP)XQNYHUELQGXQJDXIQHKPHQGDPLWPDQXQVQLFKWHWZDDEVFKLHW© %\ULOODOlFKHOWHNDOW ª'LHVHV 6FKLII LVW XQEHZDIIQHW (DUQ\ 3UDNWLVFK VWHOOW HV QXU HLQH IDVW OHHUH +OOH GDU 'LH +DXSWNUDIWZHUNH7ULHEZHUNHXQG:DIIHQZXUGHQGHPRQWLHUWXQGYHUNDXIW9RP(UO|VZXUGHGLH (LQULFKWXQJIUGHQQHXHQ=ZHFNEH]DKOWGHQGDV6FKLIIHUIOOW© ª:RKHU ZLVVHQ 6LH GDV DOOHV"© IUDJWH (DUQ\ ZlKUHQG HU EHREDFKWHWH ZLH GLH )lKUH EHU GLH .RPPDQGRNXSSHO KLQZHJJOLWW XQG VLFK GLFKW YRU HLQHP WXUPJURHQ 6FKLUPIHOGSURMHNWRU DXI GHU 2EHUVHLWHGHU6FKLIIVKOOHYHUDQNHUWH (UXQWHUQDKPQLFKWVDOV%\ULOOD,PSOHUHLQHQ3DUDO\VDWRUKHUYRU]RJXQGDXILKQULFKWHWHREZRKO HU LQIROJH VHLQHU URERWLVFKHQ 1DWXU EOLW]VFKQHOO KlWWH UHDJLHUHQ N|QQHQ $EHU GDGXUFK KlWWH HU YHUUDWHQGDVVHUHLQ5RERWHUZDU ª6WHLJHQ6LHDXV©EHIDKO%\ULOOD,PSOHU (DUQ\]RJGHQ0DJQHWYHUVFKOXVVVHLQHV5DXPDQ]XJV]XVFKORVVDEHUGHQ'UXFNKHOPQRFKQLFKW ª'DVLVWQLFKWGHU([SHULPHQWDO6DWHOOLWQLFKWZDKU"©VDJWHHU ª1HLQ GDV LVW HU QLFKW© HUNOlUWH %\ULOOD K|KQLVFK ª(V LVW GHU 9HUVDQG6DWHOOLW $EHU H[SHULPHQWLHUWZLUGGRUWDXFK,FKZHLGDVVHLQSDDUYHUUFNWH:LVVHQ VFKDIWOHUGRUWLOOHJDOH([SHULPHQWHGXUFKIKUHQ0HKULVWPLUQLFKWEHNDQQWGHQQVLHKDOWHQDOOHV VHKUJHKHLP'HVKDOEODVVHQVLHDXFKQLHPDQGHQKHUHLQ© ª'DVVLQGMDZXQGHUYROOH$XVVLFKWHQIUPLFK©PHLQWH(DUQ\XQGV\QWKHWLVLHUWH]ZHL7UlQHQGLH LKPDXVGHQ$XJHQTXROOHQXQGGLH:DQJHQKHUDEUROOWHQ ª8PHLQ0RQVWUXPZLH6LHLVWHVQLFKWVFKDGH©VDJWH%\ULOOD,PSOHUª6FKHUHQ6LHVLFKKLQDXV :LUZHUGHQXQVYRQ,KQHQQLFKWGDV*HVFKlIWGHV-DKUKXQGHUWVYHUGHUEHQODVVHQ© ª8QG LFK KDEH 6LH JHOLHEW© VWLH (DUQ\ KHUYRU VHXI]WH XQG OLH V\QWKHWLVLHUWHQ 6SHLFKHO DXV EHLGHQ0XQGZLQNHOQULQQHQ (U DNWLYLHUWH VHLQHQ 'UXFNKHOP 'DV LP 1DFNHQZXOVW LQ )RUP HLQHU )DOWUROOH XQWHUJHEUDFKWH *HELOGH JOLWW DXV HLQHU gIIQXQJ HQWIDOWHWH VLFK XQG IRUPWH VLFK ]X HLQHP VWDELOHQ UXQGHQ .ODUVLFKWKHOP %\ULOOD ,PSOHU DNWLYLHUWH GDV ,QQHQVFKRWW GHU 6FKOHXVH ZDUWHWH ELV (DUQ\ LQ GHU 6FKOHXVHQNDPPHUVWDQGXQG|IIQHWHGDQQPLWHLQHP.QRSIGUXFNGDV$XHQVFKRWW 'LHH[SORVLRQVDUWLJDXVGHU.DPPHUHQWZHLFKHQGH/XIWUL(DUQ\PLW'DHUNHLQ)OXJDJJUHJDW WUXJ PXVVWH HU JHUDGOLQLJ ZHLWHUIOLHJHQLPPHUWLHIHULQGHQ:HOWUDXPKLQHLQXQGRKQH$XVVLFKW MHPDOVZLHGHULQGLH=LYLOLVDWLRQ]XUFNNHKUHQ]XN|QQHQ 6HOEVWYHUVWlQGOLFK NRQQWH HU QLFKW HUVWLFNHQ 1XU ZUGH VHLQH (QHUJLHVWDWLRQ EHL 6SDUVFKDOWXQJ QDFK ]LUND QHXQ]LJ -DKUHQ LKUHQ *HLVW DXIJHEHQ 'D GLH 6SHLFKHU VHLQHU 3RVLWURQLNHQ DXFK RKQH (QHUJLH]XIXKU LKUH )XQNWLRQ EHLEHKLHOWHQ NRQQWH HU WKHRUHWLVFK ZLHGHU ]XP ª/HEHQ©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lJQDFKREHQ'HVKDOEVDKHUZLHGLH5DXPIlKUH VWDUWHWH XQG UDVFK QDFK REHQ VWLHJ (U VDK DEHU DXFK ZLH VLFK SO|W]OLFK HLQ )OLPPHUQ LQ HWZD GUHLKXQGHUW 0HWHUQ (QWIHUQXQJ XP GDV :DO]HQVFKLII OHJWH (V ZDU ]X VFKZDFK IU PHQVFKOLFKH
$XJHQGHQQHVHQWVWDQGOHGLJOLFKDXVGHU.ROOLVLRQGHUXQDEOlVVLJGXUFKGDV6ROV\VWHPUDVHQGHQ NRVPLVFKHQ6WUDKOXQJVSDUWLNHOPLWGHPIQIGLPHQVLRQDOHQ(QHUJLHIHOGHLQHV6FKXW]VFKLUPV 'HU9HUVDQG6DWHOOLWZDUDOVRGRFKQLFKWVRZHKUORVZLH%\ULOOD,PSOHUDQJHQRPPHQKDWWH (DUQ\ ZROOWH GDV +HOPIXQNJHUlW HLQVFKDOWHQ XP GHU )UDX HLQH :DUQXQJ ]X]XUXIHQ REZRKO HU VLFKGDPLWYHUUDWHQZUGH(UNDPQLFKWPHKUGD]X 'LH 5DXPIlKUH SUDOOWH JHJHQ GLH ,QQHQVHLWH GHV 6FKXW]VFKLUPV 6LH ZXUGH DOOHUGLQJV QXU DEJHEUHPVWVHW]WHLKUHQ)OXJIRUWXQGGXUFKVWLHGHQ(QHUJLHVFKLUP$EHUGLH5HLEXQJLKUHU+OOH PLWGHPKRFKHQHUJHWLVFKHQ)HOGZDU]XYLHOIUGLHXQJHSDQ]HUWH+OOHGHU)lKUHJHZHVHQ 6LH JOKWH DXI 'DV *OKHQ ZXUGH KHOOHU XQG KHOOHU GDQQ VFKUXPSIWH HV ]X HLQHP /LFKWSXQNW ]XVDPPHQGHUEDOGGDUDXIYHUVFKZDQG %\ULOOD,PSOHUPXVVWHVFKQHOOJHVWRUEHQVHLQDOVGLH*OXWKLW]HGLH+OOHGHU)lKUHGXUFKGUDQJXQG DOOHVZDVZHQLJHUZLGHUVWDQGVIlKLJDOV0HWDOOSODVWLNZDU]X$VFKHYHUEUDQQWH (DUQ\WDSSWHPLWXQHUPGOLFKHU*HGXOGEHUGLH$XHQKOOHGHV:DO]HQVFKLIIV(UKDWWHDXIGLHVH :HLVHEHUHLWVUXQGVLHEHQKXQGHUW0HWHU]XUFNJHOHJWXQG ZUGHJOHLFKGLH6FKOQGHGHUVHFKV,PSXOVWULHEZHUNHDP+HFNHUUHLFKHQ 'HU 6FKXW]VFKLUP ZDU EDOG QDFK GHP 9HUVFKZLQGHQ GHU JOKHQGHQ )lKUH HUORVFKHQ 6HLWGHP KDWWHVLFKQLFKWVJHUKUWZDVGDUDXIKlWWHKLQGHXWHQN|QQHQGDVVGLH%HVDW]XQJGHV6DWHOOLWHQQDFK MHPDQGHP VXFKWH (QWZHGHU KDWWHQ VLH VHLQHQ $XVVWLHJ QLFKW EHPHUNW RGHU VLH YHUOLHHQ VLFK GDUDXIGDVVGHUXQJHEHWHQH%HVXFKHUNHLQH0|JOLFKNHLWKDWWHGDV6FKLII]XEHWUHWHQXQGGHVKDOE IUKHURGHUVSlWHUDQ6DXHUVWRIIPDQJHOVWHUEHQZUGH $OV VLFK YRU LKP HLQ JlKQHQGHU 6FKOXQG DXI WDW EOLHE (DUQ\ VWHKHQ XQG EOLFNWH DXI GLH 'RVLPHWHUVHNWLRQ VHLQHV $UPEDQGGHWHNWRUV 'DV :DUQOLFKW JOKWH KLPEHHUURW XQG GLH U$Q]HLJH EHZLHV HEHQIDOOV GDVV GLH .HUDPSODVWVFKXW]VFKLFKW PLW GHU GLH ,QQHQVHLWHQ GHU gIIQXQJHQ YHUNOHLGHW ZDUHQ DOV 1DFKVWUDKOXQJ *DPPDVFKDXHU DXVVDQGWH GLH HLQHQ 0HQVFKHQ LP QRUPDOHQ 5DXPDQ]XJLQQHUKDOEYRQGUHLLJ6HNXQGHQW|WHQZUGHQ $XVGLHVHP*UXQGKDWWH(DUQ\VLFKGDIUHQWVFKLHGHQGXUFKHLQHQ$EVWUDKOWULFKWHUHLQ]XVWHLJHQ )DOOV GLH %HVDW]XQJ MHPDQGHQ GUDXHQ YHUPXWHWH ZUGH VLH QLFKW DQQHKPHQ GDVV HU QXU JHNRPPHQVHLXP6HOEVWPRUG]XYHUEHQ (LQH 9LHUWHOVWXQGH VSlWHU KDWWH (DUQ\ GHQ SURYLVRULVFKHQ 9HUVFKOXVV DXI GHU ,QQHQVHLWH GHV $EVWUDKOWULFKWHUVDXIJHVWHPPWXQGNOHWWHUWHLQGLH7ULHEZHUNVNDPPHUGLHDXHUHLQHP*HZLUUYRQ DUPVWDUNHQ 6WDKOSODVWLNNDEHOQ OHHU ZDU $XFK GLH EHQDFKEDUWH +DOOH LQ GHU GDV ULHVLJH /LQHDUWULHEZHUNJHVWDQGHQKDWWHZDUOHHU 'XUFKHLQHQ.RUULGRUJLQJ(DUQ\ZHLWHULQ5LFKWXQJ%XJ(UK|UWHGDV6XPPHQYRQ0DVFKLQHQ XQG ZDUI HLQHQ %OLFN LQ GHQ +DQJDU LQ GHP HLQPDO HLQ /HLFKWHU .DPSINUHX]HU JHVWDQGHQ KDWWH =DKOUHLFKH5RERWPDVFKLQHQZDUHQLQ]ZHL5HLKHQOlQJVHLQHV)OLH EDQGV DXIJHEDXW XQG VRUWLHUWHQ PLW IOLQNHQ *ULIIHQ &RPSXWHUWHLOH 0HQVFKHQ ZDUHQ QLFKW ]X VHKHQ (DUQ\VHW]WHVHLQHQ:HJIRUWXQGHUUHLFKWHEDOGGDUDXIGLH]LUNDKXQGHUW0HWHUKRKH+DOOHLQGHU VLFK HLQPDO GLH YLHU VFKZHUHQ .HUQIXVLRQVJHQHUDWRUHQ GHV +DXSWNUDIWZHUNV EHIXQGHQ KDWWHQ 6LH ZDUHQGXUFKHLQHVSLUDOI|UPLJH5DPSHHUVHW]WZRUGHQEHUGLHGDV)OLHEDQGOLHIGDVHU]XYRULP +DQJDU JHVHKHQ KDWWH $XV HLQHP ZDKUHQ :DOG ]DKOORVHU 5HJDOJHVWHOOH JULIIHQ 5RERWDUPH IRUWZlKUHQG&RPSXWHUWHLOHKHUDXVXQGOHJWHQVLHDXIGDV%DQG]XGHQVRUWLHUWHQ7HLOHQ (DUQ\ EHJXWDFKWHWH HLQLJH 7HLOH XQG VFKWWHOWH GHQ .RSI GHQQ VLH VWDPPWHQ EHUZLHJHQG DXV DXIEHUHLWHWHP6FKURWWOlQJVWEHUKROWHU&RPSXWHUJHQHUDWLRQHQ (UJLQJZHLWHUXQGEHREDFKWHWHLQDQGHUHQ+DOOHQZLHGLHVRUWLHUWHQ&RPSXWHUWHLOHDXI*HVWHOOHQ EHIHVWLJW ZXUGHQ $EHU QRFK IHKOWHQ GLH 3RVLWURQLNHQ RKQH GLH HLQ &RPSXWHU QLFKW IXQNWLRQLHUWH (DUQ\ HQWGHFNWH VLH LQ GHP 5DXP GHQ HLQVW GLH +DQJDUV IU 3DWURXLOOHQNUHX]HU HLQJHQRPPHQ KDWWHQXQGGHUHQ7UHQQZlQGHHQWIHUQWZRUGHQZDUHQ6LHNDPHQDXIHLQHPDQGHUHQ)OLHEDQGDXV HLQHPZHLWHUEXJZlUWVJHOHJHQHP5DXPXQGZXUGHQHEHQIDOOVLQGLH*HVWHOOHHLQJHKlQJW
(DUQ\ZXUGHHWZDVYRUVLFKWLJHUXQGVSlKWHGXUFKGDVYLHUHFNLJH/RFKDXVGHPGLH3RVLWURQLNHQ NDPHQ(UVDKHLQHULHVLJH+DOOHGDV6RODULXPGHV6FKLIIHVPLW6SRUWDQODJHQXQGHLQHU$UHQDIU .DPSIVSLHOH 8QGPLWWHQLQGHU$UHQDVWDQGHLQH3RVLWURQLNVRJURZLHHLQH/LWIDVVVlXOHXQGGHPQDFKVHKU OHLVWXQJVIlKLJ -HGH 3RVLWURQLN IU GLH 6HOEVWEDXVlW]H NDP DXV HLQHP $XI ]XJ ZXUGH YRQ 5RERWDUPHQDQGHQ&RPSXWHUDQJHVFKORVVHQXQGHUKLHOWLKUH*UXQGSURJUDPPLHUXQJ 'DV Zl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lW]H PLW IHKOHUKDIW DUEHLWHQGHQ3RVLWURQLNHQKHU]XVWHOOHQ'DVZUGHGRFKQXU]X5HNODPDWLRQHQIKUHQ 0LWHLQHPPDOJLQJLKPDXIIUZHOFKH)LUPDKLHUJHDUEHLWHWZXUGHIUGHQ*DODNWLVFKHQ+REE\ 9HUVDQG $U]DFKHQD &R (V JDE NHLQH DQGHUH )LUPD LQ GHU 0LOFKVWUDH GLH &RPSXWHU 6HOEVWEDXVlW]HYHUNDXIWH 8QG HU VHOEVW VWDPPWH HEHQIDOOV DXV HLQHP 6HOEVWEDXVDW] ZHQQ DXFK DXV HLQHP IU 5RERWHU $UEHLWHWHHUGHVKDOEYLHOOHLFKWPDQFKPDOIHKOHUKDIW" 6FKRQZROOWHHUVLFKDP)OLHEDQGYRUEHLGXUFKGLHgIIQXQJ]ZlQJHQXQGPLWGHP0DQQDQGHU *URSRVLWURQLNGDUEHUGLVNXWLHUHQREHV]XOlVVLJVHLDEVLFKWOLFKIHKOHUKDIWH:DUHKHU]XVWHOOHQGD K|UWHHU6FKULWWH :HQLJ VSlWHU HUVFKLHQ HLQ ]ZHLWHU 0DQQ LQ GHU gIIQXQJ HLQHV 1RWWUHSSHQVFKDFKWV DP )X GHU +DOOHHLQNRUSXOHQWHU0DQQPLWJUDXHP+DDUNUDQ]XPVHLQHVSLHJHOQGH*ODW]HXQGHEHQIDOOVPLW HLQHPZHLHQ2YHUDOOEHNOHLGHW ª1LFKWVPHKU]XVHKHQ1DGHVK©ULHIHU 'HU$QJHVSURFKHQHEOLFNWHNXU]DXIVHW]WHVHLQH$UEHLWDEHUIRUW ª:DKUVFKHLQOLFK KDW MHPDQG LP $OOHLQJDQJ YHUVXFKW XQV DXV]XVSLRQLHUHQ 2UQ© HUZLGHUWH HU ª(VZlUHQLFKWQRWZHQGLJJHZHVHQGLH)lKUHDQ]XJUHLIHQ© ª'DVKDEHQZLUGRFKJDUQLFKW©HUNOlUWH2UQª(VZDUHLQ8QIDOO+lWWHQGLH)HUQRUWXQJVJHUlWH IXQNWLRQLHUWZlUHHVQLFKWVRZHLWJHNRPPHQ'DQQKlWWHQZLUGLH)lKUHYRUGHP$QIOXJZDUQHQ N|QQHQ6RDEHUPHUNWHQZLUHUVWZDVORVZDUDOVGLH.RQWDNWVHQVRUHQDQVSUDFKHQ'DLFK QLFKW ZXVVWH RE ZHLWHUH )DKU]HXJH NDPHQ PXVVWH LFK GHQ 6FKXW]VFKLUP DNWLYLHUHQ ,FK NRQQWH QLFKW DKQHQGDVVGLH)lKUHJOHLFKZLHGHUVWDUWHWH:DUXPEHUKDXSW"© ª:DUXPZDV"© ª:DUXPODQGHWMHPDQGPLWHLQHU)lKUHDXIXQVHUHU6WDWLRQXQGIOLHJWJOHLFKZLHGHUIRUW"© ª:LUVROOWHQQDFKVHKHQREHLQH6SLRQVRQGHDEJHVHW]WZXUGH2EHVYLHOOHLFKWGRFKP|JOLFKLVW GDVVPDQGDKLQWHUNRPPWZLHVLFKGLH1LFKWIHKOHUSURJUDPPLHUXQJDXVZLUNW"© 2UQODFKWHXQGNDPDXIGLH*URSRVLWURQLN]X ª8QP|JOLFK1DGHVK'LH,QGRNWULQDWLRQHUIROJWVRXQWHUVFKZHOOLJGDVVVLHZHGHUEHPHUNWQRFK QDFKJHZLHVHQZHUGHQNDQQ8QGVHOEVWZHQQHVVRZlUHGDVVPDQHVEHPHUNWNDQQPDQXQVQLFKW HLQHU $QVWLIWXQJ ]X 6DERWDJHKDQGOXQJHQ EHVFKXOGLJHQ 8QVHUH &RPSXWHU EHIHKOHQ MD QLHPDQGHQ 6DERWDJH]XEHJHKHQ:HUHVWXWWXWHVDXVHLJHQHP(QWVFKOXVV© 1DGHVKXQWHUEUDFKVHLQH$UEHLWXQGVFKDXWHYHUZXQGHUWDXIGDV)OLHEDQG ª(VLVWOHHU©ULHIHUª:DVLVWGDORV"© ª8QVHU 9RUUDW ZLUG HUVFK|SIW VHLQ© HUZLGHUWH2UQ ª:LU KDEHQ MD NHLQHQ 1DFKVFKXE PHKU YRQ 2O\PSEHNRPPHQVHLWGLH2UELWHUGLH)UHLKDQGHOVZHOWEORFNLHUHQ$EHUGDVZLUGVLFKEDOGlQGHUQ
ZHQQVLHPHUNHQGDVVGLHKXPDQRLGHQ9|ONHUGHU0LOFKVWUDHVLFKVHOEVWNDPSIXQIlKLJPDFKHQ 'DQQ EOHLEW GHQ 2UELWHUQ QLFKWV ZHLWHU EULJ DOV VLH LQ 5XKH ]X ODVVHQ (LQ VFK|QHU 1HEHQHIIHNW XQVHUHU)ULHGHQVRIIHQVLYH© (DUQ\JODXEWHQLFKWUHFKWJHK|UW]XKDEHQVRXQJH KHXHUOLFKZDUGHU6FKOXVVGHUVLFKQDFKGHQ:RUWHQGHUEHLGHQ0lQQHUDXIGUlQJWH 6LH KDWWHQ PLW +LOIH HLQHU 1LFKWIHKOHUIHKOHUSURJUDPPLHUXQJ HLQ %HJULII GHU QXU .\EHUQHWLNHUQ EH]LHKXQJVZHLVH &RPSXWHULQJHQLHXUHQ XQG QDWUOLFK 5RERWHUQ PLW GHU 4XDOLILNDWLRQ (DUQ\V VDJWH GDVV HV VLFK XP HLQH 3URJUDPPLHUXQJ KDQGHOWH GLH DEVLFKWOLFK HLQJHJHEHQH )HKOHU DOV 1LFKWIHKOHU E]Z QLFKW DOV )HKOHU HUVFKHLQHQ OLH GLH 6HOEVWEDX&RPSXWHU $U]DFKHQDV GD]X JHEUDFKW LKUH $QZHQGHU LQ :DKQYRUVWHOOXQJHQ EHU GLH +HUEHLIKUXQJ HLQHV JDOD[LVZHLWHQ )ULHGHQV]XWUHLEHQXQGGDVDXVJHUHFKQHWGXUFKJHZDOWVDPH$NWLRQHQ 'DVZDU]XYLHOIU(DUQ\ (U]ZlQJWHVLFKGXUFKGLHgIIQXQJXQGKDWWHGLHEHLGHQ0lQQHUHUUHLFKWDOVVLHLKQJHUDGHHUVW HQWGHFNWHQXQGVWDUUYRU6FKUHFNZDUHQ 2UQIDVVWHVLFK]XHUVWZLHGHU ª:DVZDVZROOHQ6LHKLHU"©IUDJWHHU ª'DV'LQJLVWHLQ5RERWHU2UQ©VDJWH1DGHVKª+DVWGXNHLQH:DIIH"© ª:RKHUZLVVHQ6LHGDVVLFKHLQ5RERWHUELQ"©IUDJWH(DUQ\YHUEOIIW 1DGHVKOlFKHOWHVHOEVWJHIlOOLJ ª,FK ELQ VFKOLHOLFK .\EHUQRSV\FKRUHIOH[RORJH PLW EHU KXQGHUW -DKUHQ 3UD[LV (LQHQ 5RERWHU HUNHQQH LFK VRIRUW ZHQQ LFK LKQ VHKH DQ ]DKOORVHQ ZLQ]LJHQ 'HWDLOV GHV 9HUKDOWHQV GLH DQGHUH 0HQVFKHQQLHPDOVEHPHUNHQZUGHQ© 2UQGUHKWHVLFKXPXQGZROOWHZHJODXIHQ:DKUVFKHLQOLFKKDWWHHULUJHQGZRLQGHU6WDWLRQHLQH :DIIHGLHHUKROHQZROOWH(LQ5RERWHUJDOWQDFKGHP*HVHW]MDQLFKWDOV3HUVRQVRQGHUQDOV6DFKH VRGDVVVHLQH=HUVW|UXQJQXUXQWHU6DFKEHVFKlGLJXQJILHO (DUQ\SDFNWHLKQDP.UDJHQ]RJLKQ]XUFNXQGJDELKPHLQHVFKDOOHQGH2KUIHLJH 1DGHVKZXUGHEODV ª'DVLVWJHJHQGDVHUVWH5RERWHUJHVHW]©NHLIWHHU (DUQ\YHUDEUHLFKWHLKPHEHQIDOOVHLQH2KUIHLJH ª'DVHUVWH5RERWHUJHVHW]KHLWGDVVHLQ5RERWHUQLHPDOVHLQPHQVFKOLFKHV:HVHQYHUOHW]HQGDUI XQG VR ZHLWHU© HUNOlUWH (DUQ\ ª,Q HXFK HUNHQQH LFK DEHU NHLQH PHQVFKOLFKHQ :HVHQ VRQGHUQ 8QJHKHXHU LQ PHQVFKOLFKHU *HVWDOW 'DV ]XU .ODUVWHOOXQJ ,FK NlPH QLFKW HLQPDO GDQQ PLW GHQ $VLPRY VFKHQ 5RERWHUJHVHW]HQ LQ .RQIOLNW ZHQQ LFK HXFK W|WHQ ZUGH© 'DV ZDU DOOHUGLQJV HLQH OHHUH'URKXQJ(DUQ\KDWWHQLFKWYRUMHPDQGHQ]XW|WHQ ª'X ELVW IDOVFK SURJUDPPLHUW 5RERWHU© VDJWH 2UQ (U VSUDFK HWZDV XQGHXWOLFK GD VHLQH OLQNH :DQJHVWDUNJHVFKZROOHQZDU ª$XVJHUHFKQHW GX PXVVW YRQ IDOVFKHU 3URJUDPPLHUXQJ VSUHFKHQ© HUZLGHUWH (DUQ\ ª,FK ZHL ZDV LKU PLW GHQ &RPSXWHUQ JHPDFKW KDEW XQG LFK ZHL DXFK GDUEHU %HVFKHLG ZLH VLFK HXUH 0DQLSXODWLRQEHLGHQ$QZHQGHUQGHU6HOEVWEDX&RPSXWHUDXVZLUNW© ª'LH KXPDQRLGHQ 9|ONHU PVVHQ ]XP )ULHGHQ JH]ZXQJHQ ZHUGHQ VRQVW EHNlPSIHQ VLH VLFK MD GRFKZLHGHU©HUNOlUWH2UQª:HQQVLHDEHUNHLQH5DXPIORWWHQPHKUKDEHQRGHULKUH5DXPVFKLIIH NDPSIXQIlKLJVLQGN|QQHQVLHNHLQH.ULHJHIKUHQ© (DUQ\HUNDQQWHGDVVHUHVPLWSV\FKLVFKNUDQNHQ0HQVFKHQ]XWXQKDWWHGHVKDOEYHU]LFKWHWHHU DXI*HJHQDUJXPHQWH ª:LHKHLWGXPLWYROOHP1DPHQ"©ZDQGWHHUVLFKDQ2UQ ª2UQ.XIWDU,FKELQHLQQDPKDIWHU3V\FKRWKHUDSHXW© ª'XEUDXFKVWHLQHQ3V\FKRWKHUDSHXWHQ©VDJWH(DUQ\ª8QGZLHKHLWGX"©IUDJWHHU1DGHVK ª1DGHVK7D\UHU.\EHUQRSV\FKRUHIOH[RORJH© ª:LUVLQGGLH)ULHGHQVLQWHOOLJHQ]©VDJWH2UQ.XIWDU
ª:HWWHQGDVVHXUH,QWHOOLJHQ]TXRWLHQWHQJOHLFK1XOO VLQG© IXKU (DUQ\ LKQ DQ ª2EZRKO HXHU ,QWHOOHNW HQRUP VHLQ GUIWH $EHU ,QWHOOLJHQ] LVW QLFKW JOHLFK )DFKZLVVHQ VRQGHUQ JOHLFK GHU 4XDOLWlW IROJHULFKWLJHU 5HDNWLRQHQ DXI GLH 8PZHOW *DQ] GDYRQDEJHVHKHQGDVVLKUHXHU=LHOGLH(QWZDIIQXQJDOOHUKXPDQRLGHQ9|ONHUGHU*DOD[LVQLHPDOV HUUHLFKWKlWWHWZlUHQGLH9|ONHUQLFKWODQJHZDIIHQORVJHEOLHEHQ:HU.ULHJHIKUHQZLOOEHNRPPW DXFK LPPHU ZLHGHU GLH 0LWWHO GD]X LQ GLH )LQJHU )ULHGH ZLUG HUVW VHLQ ZHQQ DOOH 9|ONHU LKQ DXVQDKPVORVZROOHQ© ª%LVWGXYRQGHU6RODUHQ$EZHKUJHVFKLFNWZRUGHQ"©IUDJWH1DGHVK7D\UHU ª8QG ZHQQ VFKRQ© ZDUI 2UQ .XIWDU HLQ ª9HUKDIWH XQV UXKLJ :LU ZHUGHQ GLH *HULFKWVYHUKDQGOXQJ]XP7ULEXQDOXQVHUHU,GHHYRQGHU9HUZLUNOLFKXQJGHV)ULHGHQVPDFKHQ© ª,KU ZHUGHW OHEHQVOlQJOLFK LQ GLH 0HUNXU0LQHQ JHVFKLFNW© ORJ (DUQ\ GHQQ 9HUXUWHLOXQJHQ ]X =ZDQJVDUEHLW JDE HV OlQJVW QLFKW PHKU ª,Q JOKHQGHU +LW]H XQG VWlQGLJHP 6DXHUVWRIIPDQJHO ZHUGHW LKU 4XHFNVLOEHUVHHQ DEVFK|SIHQ 'LH 6WUDKOXQJ GHU QDKHQ 6RQQH ZLUG HXFK WURW] 6FKXW]DQ]JHQ GLH =HOONHUQH GHIRUPLHUHQ XQG HXFK LQ DXIJHGXQVHQH YRQ LQQHQ KHUDXV IDXOHQGH 0RQVWUHQYHUZDQGHOQ© 1DGHVK7D\UHU]LWWHUWH ª1HLQVRJUDXVDPNDQQQLHPDQGVHLQ©MDPPHUWHHU ª,FK N|QQWH QDWUOLFK HLQ JXWHV :RUW IU HXFK HLQOHJHQ© PHLQWH (DUQ\ ª$OOHUGLQJV PVVWH LFK GHP*HULFKWEHZHLVHQGDVVLKUWlWLJH5HXHJHEWKDEW© ª:LHN|QQWHHLQ5RERWHUHLQJXWHV:RUWIUXQVHLQOHJHQ"©IUDJWH2UQ.XIWDUª9RU*HULFKWKDW VHLQH6WLPPHGRFKNHLQ*HZLFKW© ª0HLQ3DUWQHUZUGHIUPLFKVSUHFKHQ©HUNOlUWH(DUQ\ª8QG.\URQ%DUUDNXQLVW7HUUDQHUXQG %UJHUGHU/)7XQGDXHUGHPHLQ9HUWUDXWHUGHV(UVWHQ7HUUDQHUV© ª.\URQ%DUUDNXQ©ULHI2UQª&RPSXWHU.LG":LU KlWWHQGDUDQGHQNHQVROOHQ1DGHVK1XU&RPSXWHU.LGNRQQWHXQVDXIGLH6SXUNRPPHQ© (DUQ\QLFNWH ª:LHN|QQHQZLUWlWLJH5HXHEHZHLVHQ"©IUDJWH1DGHVK7D\UHUNOlJOLFK (DUQ\HUNDQQWHGDVVGLH=XJlQJOLFKNHLWGHUEHLGHQ0lQQHUQXUJHVSLHOWZDUGHQQLKQHQZDUGLH (LQVLFKW LQ GDV 8QUHFKW GDV VLH EHJDQJHQ KDWWHQ QLFKW P|JOLFK 1XU LQWHQVLYH 3V\FKRWKHUDSLH ZUGHYLHOOHLFKWHLQHQ6LQQHVZDQGHOKHUEHLIKUHQ 1HLQVLHYHUVXFKWHQQXULKQ]XWlXVFKHQXQGZDUWHWHQGDUDXIGDVVHUDUJORVZXUGHVRGDVVVLH LKQDXVVFKDOWHQNRQQWHQ9RUDOOHP1DGHVK7D\UHUGHUVLFKIUHLQ*HQLHKLHOWZDUDEVROXWVLFKHU GDVVHUMHGHQ5RERWHUVSLHOHQGKHUHLQOHJHQNRQQWH$XHUGHPVDQQHUDXI5DFKH (UGHXWHWHDXIGLH*URSRVLWURQLN ª'HU7\SLVWPLUQLFKWEHNDQQW:RZXUGHVLHJHEDXW"© ª'DVLVWHLQHODULVFKH3RVLWURQLNPLWDFKW]HKQK\SHULQSRWURQLVFKHQ=XVDW]HOHPHQWHQGLHMHGHVIU VLFKDUEHLWHQDEHUDXFK]XVDPPHQJHVFKDOWHWZHUGHQN|QQHQ©HUNOlUWH1DGHVK7D\UHUVWRO] ª,GLRW©IXKU2UQ.XIWDULKQZWHQGDQ 1DGHVK 7D\UHU ELV VLFK DXI GLH /LSSHQ ,Q VHLQHQ ILHEULJ JOlQ]HQGHQ $XJHQ VWDQG GLH 'URKXQJ GDVVHUVLFKIXUFKWEDUGDIUUlFKHQZUGHGDVV(DUQ\LKQKHUHLQJHOHJWKDWWH (DUQ\ ZDU EHHLQGUXFNW (U ZXVVWH EHU GLH 4XDOLWlW GHU ODULVFKHQ &RPSXWHU GXUFK .\URQ %HVFKHLGDEHUHUZXVVWHDXFKGDVVHVZHGHUGHQ7HUUDQHUQQRFKDQGHUHQ$QJHK|ULJHQJDODNWLVFKHU =LYLOLVDWLRQHQJHOXQJHQZDUHLQHODULVFKH3RVLWURQLN]XHUEHXWHQXQG]XXQWHUVXFKHQ ª$XVJH]HLFKQHW© HUNOlUWH HU JULQVHQG XQG VDEEHUWH ª$EHU DXFK LKU *HQLHV NRQQWHW PLW GHP ODULVFKHQ&RPSXWHUHUVWXPJHKHQQDFKGHPLKULKPHLQH.RQVROHXQG HLQHQ %LOGVFKLUP WHUUDQLVFKHU 3URGXNWLRQ YHUSDVVW KDWWHW ª$EHU LPPHUKLQ 'DV PDFKW YLHOHV OHLFKWHUKRIIHLFK© ª:DVPDFKWHVOHLFKWHU"©IUDJWH2UQ.XIWDU ª(LQLJH/HXWHGHV'LHEVWDKOVYRQ7ULVRQLXP]XEHUIKUHQ©DQWZRUWHWH(DUQ\
1DFKGHPHU2UQ.XIWDUJHIHVVHOWXQGLQHLQHOHHUH0DQQVFKDIWVNDELQHJHVSHUUWKDWWHOLH(DUQ\ 1DGHVK7D\UHUGHQODULVFKHQ&RPSXWHUDQGDV+\SHUIXQNJHUlWGHU6WDWLRQDQVFKOLHHQ 'DQDFKYHUDQODVVWHHULKQGD]XGLH+\SHUIXQNDQWHQQHDXIGHQ([SHULPHQWDOVDWHOOLWHQ]XULFKWHQ GHVVHQ%HVLW]HUVHLQHU0HLQXQJQDFKHWZDVPLWGHP9HUVFKZLQGHQGHV7ULVRQLXPV]XWXQKDWWHQ ª1LPP .RQWDNW PLW GHP +DXSWFRPSXWHU GHV 6DWHOOLWHQ DXI XQG ]ZLQJH LKQ GD]X VLFK GHP K|KHUZHUWLJHQODULVFKHQ&RPSXWHU]XXQWHUZHUIHQ©EHIDKOHUDQVFKOLHHQG ª,FKZHLQLFKWREPLUGDVJHOLQJW©HUZLGHUWH1DGHVK7\UHU ª:HQQGXDOOHDFKW]HKQK\SHULQSRWURQLVFKHQ=XVDW]HOHPHQWH]XVDPPHQVFKDOWHVWJHOLQJWHVGLU© VDJWH(DUQ\ (U YHUZQVFKWH GLH 7DWVDFKH GDVV HU YRUOlXILJ DXI GLH +LOIH 7D\UHUV DQJHZLHVHQ ZDU GHQQ HU ZXVVWH QLFKW ZLH HU GLH K\SHULQSRWURQLVFKHQ =XVDW]HOHPHQWH HLQHV ODULVFKHQ &RPSXWHUV ]XVDPPHQVFKDOWHQVROOWH(VJDEDXFKQRFKDQGHUH)HLQKHLWHQGHU%HGLHQXQJGLHHUQLFKWNDQQWH 'DMHGRFKGHUHUVWH=XJULIIHUIROJUHLFKVHLQPXVVWHZHLOQXUHLQ9HUVXFKP|JOLFKZDUPXVVWHHU GLH 'HWDLOV GHU %HGLHQXQJ YRQ 7D\UHU DEVFKDXHQ XQG HU PXVVWH GDEHL DXI GHU +XW VHLQ GDPLW 7D\UHUQLFKWDEVLFKWOLFKIDOVFKH6FKDOWXQJHQYRUQDKP ª,FKZLOOHVYHUVXFKHQNDQQDEHUNHLQHQ(UIROJJDUDQWLHUHQ©HUNOlUWH1DGHVK7D\UHU (DUQ\ EHXJWH VLFK YRU VR GDVV VHLQ KlVVOLFKHV *HVLFKW VLFK XQPLWWHOEDU YRU 7D\UHUV *HVLFKW EHIDQGXQGV\QWKHWLVLHUWHHLQHQ6SHLFKHOIDGHQGHUGLFKWDQ7D\UHV$XJHQYRUEHLVFKZHEWH ª,FK YHUVWHKH DXFK HWZDV YRQ 3V\FKRUHIOH[HQ YRQ URERWLVFKHQ XQG PHQVFKOLFKHQ© VDJWH HU GURKHQG XQG VFKORVV VHLQH +DQG XP 7D\UHUV OLQNHV +DQGJHOHQN ª0HLQH 7DVWVHQVRUHQ VLQG VHKU HPSILQGOLFKVRGDVVLFK3XOVYHUlQGHUXQJHQbQGHUXQJHQYRQ+DXWWHPSHUDWXUXQG+DXWIHXFKWLJNHLW XQGVRZHLWHUVRIRUWUHJLVWULHUH,FKIXQNWLRQLHUHVR]XVDJHQDOV6XSHUOJHQGHWHNWRU6ROOWHVWGXDOVR YHUVXFKHQ HWZDV IDOVFK ]X PDFKHQ PHUNH LFK GDV 'DQQ ZDQGHUVW GX QDFKKHU DXV GHU 0DQQVFKOHXVHRKQH5DXPDQ]XJ© $Q7D\UHUV$XJHQHUNDQQWHHUGDVVGHU0DQQLKPMHGHV:RUWJODXEWH(UZUGHDXV$QJVWQLFKWV IDOVFKPDFKHQ ª/RV©EHIDKOHU 1DGHVK 7D\UHUV )LQJHU JOLWWHQ EHU GLH 6HQVRUHQ GHV 3DQHHOV (DUQ\V 3RVLWURQLNHQ UHJLVWULHUWHQ DOOHVXQGVLHNRQQWHQQLFKWVYHUJHVVHQ%DOGHUNDQQWHHUGDVVHUHVDOOHLQQLFKWJHVFKDIIWKlWWHGLH DFKW]HKQ K\SHULQSRWURQLVFKHQ =XVDW]HOHPHQWH ]XVDPPHQ]XVFKDOWHQ VR GDVV VLH HLQH )XQNWLRQVHLQKHLWELOGHWHQIUGLHOHGLJOLFK1$7+$1K|KHUZHUWLJZDU ª-HW]WNRPPWGLH.RQWDNWDXIQDKPH©VDJWH1DGHVK7D\UHUDQVFKOLHHQG ª:DUWHQRFK©EHIDKO(DUQ\ (UOLH7D\UHUV+DQGJHOHQNORVHQWIHUQWHHLQH$EGHFNSODWWHDPOLQNHQ(QGHGHV.RQWUROOSDQHHOV XQGIDQGVHLQH$QQDKPHEHVWlWLJWGDVVVLFKGDUXQWHUGLHEHLGHQ.RQWDNWVWHOOHQIUGLH.RQWUROOHQ EHIDQGHQ:HQQHUGLH.RPPXQLNDWLRQ]ZLVFKHQGHPODULVFKHQ&RPSXWHUXQGGHP+DXSWFRPSXWHU GHV([SHULPHQWDOVDWHOOLWHQEHODXVFKHQXQGGLH'DWHQGHV([SHULPHQWDO 6DWHOOLWHQDQ]DSIHQZROOWHPXVVWHHUHLJHQWOLFKMHGH+DQGDXIHLQH.RQWDNWVWHOOHOHJHQ (U EOLFNWH ]X 7D\UHU XQG VDK GDVV GHU :LVVHQVFKDIWOHULKQODXHUQGEHREDFKWHWH$OVRPXVVWHHU LKQZHQLJVWHQVJODXEHQODVVHQGDVVHULKQNRQWUROOLHUWH'DGLH.RQWDNWVWHOOHQQDKHQHEHQHLQDQGHU ODJHQNRQQWHHUPLWHLQHU+DQGEHLGHEHUKUHQ (UWDWHVXQGVFKORVVGLHDQGHUH+DQGZLHGHUXP7D\UHUVOLQNHV+DQGJHOHQN ª'DPLWGXHUNHQQVWGDVVPHLQH7DVWVHQVRUHQPHKUDOVDXVUHLFKHQGLFK]XNRQWUROOLHUHQZHUGH LFKZHJVHKHQ©ZDUQWHHUª9HUVXFKHDOVRNHLQH7ULFNV© (UVDKZHJ ª-HW]W© 1DGHVK 7D\UHU VFKDOWHWH (DUQ\ PHUNWH HV ZHLO HU ªGULQ© ZDU LQ GHU 9HUELQGXQJ ]ZLVFKHQ GHQ EHLGHQ &RPSXWHUQ 'DIU DOOHUGLQJV YHUPRFKWHHUQLFKWVPHKU]XVHKHQXQGNDXPQRFKHWZDV ]X
K|UHQGDHUVLFKYROODXIVHLQH+DXSWDXIJDEHNRQ]HQWULHUHQPXVVWH'HVKDOEVDKHUZHJGHQQVRQVW KlWWHGHU.\EHUQRUHIOH[RORJHDQVHLQHP*HVLFKWVDXVGUXFNJHPHUNWZDVORVZDU 'HQQRFKKlWWHHUVLFKEHLQDKHYHUUDWHQGHQQGLH(UNHQQWQLVGDVV.\URQVh%6().RQVWDQWHLP +DXSWVWHXHUHOHPHQWGHVJHJQHULVFKHQ+DXSWFRPSXWHUVJHIDQJHQZDUYHUVHW]WHLKPHLQHQ6FKRFN (U ZROOWH VRIRUW GDUDXI UHDJLHUHQ XQG EHU GHQ ODULVFKHQ &RPSXWHU GHQ JHJQHULVFKHQ &RPSXWHU ]ZLQJHQVHLQHK\SHULQSRWURQLVFKHQ=XVDW]HOHPHQWH]XGHDNWLYLHUHQ,POHW]WHQ0RPHQWPHUNWHHU MHGRFK GDVV HU GDPLW DOOHV YHUGRUEHQ KlWWH GHQQ GHU JHJQHULVFKH &RPSXWHU ZXUGH VRHEHQ YRQ DXHQSURJUDPPLHUW'HU0HQVFKGHUGLH3URJUDPPLHUXQJGXUFKIKUWHKlWWHVRIRUWJHPHUNWGDVV HLQ )UHPGHLQIOXVV YRUODJ ZHQQ VLFK GLH K\SHULQSRWURQLVFKHQ =XVDW]HOHPHQWH GHDNWLYLHUW KlWWHQ RKQHGDVVHUHLQHHQWVSUHFKHQGH6FKDOWXQJYRUQDKP 'DUXP]ZDQJ(DUQ\VLFKGD]XGDVJUDXHQKDIWH6FKLFNVDOVHLQHV3DUWQHUVYRUOlXILJ]XLJQRULHUHQ 'HU JHJQHULVFKH &RPSXWHU ZDU XQWHUGHVVHQ YRQ GHP ODULVFKHQ &RPSXWHU GD]X JHEUDFKW ZRUGHQ LKQDOVK|KHUZHUWLJDQ]XHUNHQQHQ'DHUDEHUQRFKNHLQH%HIHKOHHPSILQJZLUNWHVLFKGDVYRUHUVW QLFKW SUDNWLVFK DXV XQG NRQQWH GHPQDFK DXFK YRQ GHU SURJUDPPLHUHQGHQ 3HUVRQ QLFKW EHPHUNW ZHUGHQ (DUQ\ NRQWUROOLHUWH GLH 3URJUDPPGDWHQ XQG PLW HLQHPPDO ZXVVWH HU ZLH GLH 'LVNUHSDQ] ]ZLVFKHQJHNDXIWHUXQGDP/DJHUYRUKDQGHQHU7ULVRQLXPPHQJH]XVWDQGHJHNRPPHQZDU 'LH IHKOHQGHQ ]ZHLKXQGHUWDFKW]LJWDXVHQG 7RQQHQ WULVRQLXPKDOWLJHQ *HVWHLQV ZDUHQ QLHPDOV JHOLHIHUWZRUGHQ9LHOPHKUKDWWHMHPDQGPLW+LOIHGHV&RPSXWHUVGHVª([SHULPHQWDOVDWHOOLWHQ©GHQ +DXSWFRPSXWHU GHU *&&=HQWUDOH 0DUV VR PDQLSXOLHUW GDVV HU VWDWW ]ZDQ]LJWDXVHQG WDWVlFKOLFK JHOLHIHUWHU 7RQQHQ *HVWHLQV HLQH /LHIHUXQJ YRQ GUHLKXQGHUWWDXVHQG 7RQQHQ EHVWlWLJW XQG GLH HQWVSUHFKHQGH6XPPHDXIGDV.RQWRYRQ,QWHUSODQHWDU\0LQHUDOV/WGEHUZLHVHQKDWWH 8QGVRHEHQZDUGHUJHJQHULVFKH&RPSXWHUGDEHLHQWVSUHFKHQGGHPQHXHLQJHJHEHQHQ3URJUDPP GHP *&&&RPSXWHU HLQH /LHIHUXQJ ZHLWHUHU QHXQ]LJWDXVHQG 7RQQHQ WULVRQLXPKDOWLJHQ *HVWHLQV YRU]XWlXVFKHQZRIU,QWHUSODQHWDU\0LQHUDOV/WGHLQHKRUUHQGH6XPPHNDVVLHUHQZUGH (DUQ\ NRQQWH QLFKWV JHJHQ GLHVHQ QHXHUOLFKHQ %HWUXJ XQWHUQHKPHQ GHQQ GD]X KlWWH HU GDV 3URJUDPPYHUIlOVFKHQPVVHQZDVGLH3HUVRQGLHHVHLQJHJHEHQKDWWHEHPHUNWKl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lPOLFKHLQHQ6SHUUEHIHKOGDVKLHGDV9HUERWDXI$QIUDJHQYRQ DXHQ'DWHQ]XEHUPLWWHOQ'DVNRQQWHQXUEHGHXWHQGDVVHUGHQ6DWHOOLWHQYHUODVVHQZROOWH (DUQ\ZDUWHWHQRFKHLQLJH0LQXWHQGDQQSURJUDPPLHUWHHUGHQJHJQHULVFKHQ&RPSXWHUPLW+LOIH GHVODULVFKHQ&RPSXWHUVQHXXQGHUWHLOWHLKPJHQDXH%HIHKOHPLWH[DNWDXVJHUHFKQHWHP7LPLQJ (UVW DOV GHU &RPSXWHU QDFK HLQHU KDOEHQ 6WXQGH 9ROO]XJ PHOGHWH GXUIWH (DUQ\ LKP EHIHKOHQ VHLQH K\SHULQSRWURQLVFKHQ =XVDW]HOHPHQWH DE]XVFKDOWHQ XQG GDGXUFK .\URQV h%6().RQVWDQWH IUHL]XJHEHQ ,QGHP HU GHQ ,PSXOV YHUIROJWH DXI GHP .\URQV ª6HHOH© ]XP .|USHU ]XUFNNHKUWH HUIXKUHUZRVHLQ3DUWQHUVLFKDXIKLHOW 0LWHLQHP6HXI]HUO|VWHHUVLFKDXVGHU9HUELQGXQJQDKPGLH+DQGYRQGHQ.RQWDNWVWHOOHQXQG EOLFNWHVLFKDODUPLHUWQDFK7D\UHUXPDOVHUVSUWHGDVVVHLQHUHFKW+DQGOHHUZDU 1DGHVK7D\UHUZDUQLFKWPHKUGD (U DOV HUIDKUHQHU .\EHUQRSV\FKRUHIOH[RORJH PXVVWH WURW] DOOHU 9RUVLFKWVPDQDKPHQ JHPHUNW KDEHQ GDVV GHU 5RERWHU LKQ QLFKWPHKU NRQWUROOLHUWH :DKUVFKHLQOLFK ZROOWH HU VHLQHQ .RPSOL]HQ
EHIUHLHQVLFKHLQH:DIIHKROHQXQG]XUFNNHKUHQXPGHQ5RERWHU]XYHUQLFKWHQ (DUQ\ KDWWH MHGRFK NHLQH =HLW VLFK GDUXP ]X NPPHUQ (U KDWWH GHP JHJQHULVFKHQ &RPSXWHU HQWQRP UQHQZR&DULOGDJHIDQJHQJHKDOWHQZXUGHXQGHUPXVVWHDOOHVWXQGDPLWVLHEHIUHLWZXUGHEHYRU GHU%HWUJHUPHUNWHGDVVVHLQH3OlQHGXUFKNUHX]WZDUHQ 'D GHU ODULVFKH &RPSXWHU QRFK DQ GDV +\SHUIXQNJHUlW GHV HKHPDOLJHQ hEHUVFKZHUHQVFKLIIV DQJHVFKORVVHQ ZDU NRQQWH (DUQ\ RKQH 6FKZLHULJNHLWHQ HLQH +\SHUIXQNYHUELQGXQJ ]XP &RPSXWHUDQVFKOXVVGHU6DWHOOLWHQNRQWUROOVWDWLRQKHUVWHOOHQLQGHU.\URQVLFKEHIDQG 6HNXQGHQVSlWHUEOLFNWHLKPYRP%LOGVFKLUPGDV$EELOGVHLQHV3DUWQHUVHQWJHJHQ .\URQV *HVLFKW ZLUNWH YHUIDOOHQ XQWHU GHQ $XJHQ ODJHQ EUHLWH 6FKDWWHQ 'RFK LQ GHQ $XJHQ EUDQQWHZLHGHUGDVDOWH)HXHU ª(DUQ\©VDJWH.\URQPLWPDWWHU6WLPPHª'DQQZDUVWGXHVGHUPLFKEHIUHLWKDW© ª-D.LG©HUZLGHUWH(DUQ\ª$EHUGDUEHUUHGHQZLUVSlWHU,FKZHLZR&DULOGDYHUVWHFNWZLUG 'X PXVVW YHUDQODVVHQ GDVV VLH LQ HLQHU EOLW]DUWLJHQ $NWLRQ EHIUHLW ZLUG %LWWH 7LIIORU XP 8QWHUVWW]XQJ(UKDWGLH/HXWHGLHIUVRHWZDVDXVJHELOGHWVLQG© ª,FK ZHL DXFK ZR &DULOGD LVW (DUQ\© HUNOlUWH .\URQ ª,P 9HUZDOWXQJVJHElXGH GHU )LUPD ,QWHUSODQHWDU\0LQHUDOV/WGLQGHU&LW\YRQ0DUVSRUW,FKIOLHJHVRIRUWKLQXQGKROHVLHKHUDXV© ª'X ELVW QLFKW GHU 0DQQ GDIU .LG© ULHI (DUQ\ HLQGULQJOLFK ª-HPDQG GHU *HZDOWDQZHQGXQJ YHUDEVFKHXWXQGLQVROFKHQ6DFKHQVRXQJHVFKLFNWLVWGDVVHLQIQIMlKULJHU-XQJHLKQEHUZlOWLJHQ NDQQ ZUGH QXU DOOHV YHUGHUEHQ ,FK DEHU ELQ PLW ]ZHL JHLVWHVNUDQNHQ 9HUEUHFKHUQ LQ HLQHP 9HUVDQGVDWHOOLWHQXQGPXVVVLHZLHGHUHLQIDQJHQEHYRUVLH8QKHLODQULFKWHQ,FKNDQQQLFKWVFKQHOO JHQXJHLQJUHLIHQ8QG&DULOGDPXVVVFKQHOOEHIUHLWZHUGHQGHQQVFKRQEDOGZHUGHQGLH%HWUJHU PHUNHQGDVVVLHGDV6SLHOYHUORUHQKDEHQXQGVLHZHUGHQVLFKDQ&DULOGDUlFKHQZROOHQ© ª:DVKDVWGXJHWDQ"©IUDJWH.\URQ ª6SlWHU©HUZLGHUWH(DUQ\ª8QWHUQLPPHWZDV© ª,FKZHUGH&DULOGDEHIUHLHQ©VDJWH.\URQHQWVFKORVVHQ ª:LHGHQQ"© ª6SlWHU©DQWZRUWHWH.\URQXQGOlFKHOWHHLJHQDUWLJª.PPHUHGXGLFKXPGLH3URGX]HQWHQGHU ,QGRNWULQDWLRQVFRPSXWHU© ª:DV"© ULHI (DUQ\ ª:RKHU ZHLW GX"© 'RFK GD KDWWH .\URQ GLH 9HUELQGXQJ VFKRQ XQWHUEURFKHQ ª(U KDW DOOHV VFKRQ YRU PLU JHZXVVW© ULHI (DUQ\ ª8QG LFK GDFKWH LFK KlWWH GLH EHLGHQ )lOOH DOOHLQJHO|VW© (LQH (UVFKWWHUXQJ GHV %RGHQV HULQQHUWH LKQ ZLHGHU GDUDQ GDVV HU GLH EHLGHQ *HLVWHVNUDQNHQ HLQIDQJHQPXWH(UIUDJWHVLFKZDVGLH(UVFKWWHUXQJ]XEHGHXWHQKDWWHXQGGDQQILHOLKPHLQ GDVVMHGHU6DWHOOLW5HWWXQJVERRWSOlW]HIUVHLQH%HVDW]XQJKDEHQPXWH6RMHGHQIDOOVODXWHWHQGLH 9RUVFKULIWHQXQGVLHZXUGHQJHQDXNRQWUROOLHUWEHYRUGLHª$XIKlQJXQJ©HLQHV6DWHOOLWHQLQHLQHU 2UELWDOEDKQXPHLQHQEHZRKQWHQ3ODQHWHQJHQHKPLJWZXUGH :DKUVFKHLQOLFKZDUHQGLHEHLGHQ*HLVWHVNUDQNHQPLWGHPHLQ]LJHQ5HWWXQJVERRWLKUHV6DWHOOLWHQ JHVWDUWHW (DUQ\UDQQWH]XU1RWWUHSSHXPYRQGHU.RPPDQGRNXSSHODXVIHVW]XVWHOOHQREVHLQH9HUPXWXQJ ]XWUDI .\URQ %DUUDNXQV UHFKWHU )X YHUILQJ VLFK LP ]X ODQJHQ +RVHQEHLQ GHV DXVJHOLHKHQHQ ZHLHQ 2YHUDOOV HLQHV .\EHUQHWLNHUV (U VWU]WH XQG ZXUGH PLWVDPW VHLQHP 0HWDOOSODVWLNNRIIHU YRP 7UDQVSRUWEDQGGLUHNWYRUGHPVlXOHQI|UPLJHQ3IRUWHQURERWDEJHODGHQ $XIGHU.RQWUROOIOlFKHGHV5RERWVEOLQNWHKHNWLVFKHLQURWHV/LFKWXQGGLH9RFRGHUVWLPPHULHI
ª8QIDOODQ3IRUWH$HLQV%LWWHHLQHQ0HQVFKHQDQ3IRUWH$HLQV]ZHFNV+LOIHOHLVWXQJ© %HYRU.\URQVLFKZLHGHUDXIJHUDSSHOWKDWWHZDUHQHLQ0DQQXQGHLQH)UDXEHLLKP$QVWDWWLKP DXI]XKHOIHQGUFNWHQVLHLKQMHGRFKDXIGHQ%RGHQ]XUFN ª+DEHQ6LHHWZDVJHEURFKHQ"©IUDJWHGLH)UDXª%LWWHOLHJHQ6LHVWLOO© .\URQHUNDQQWHGLHJQVWLJH*HOHJHQKHLWGLHGHU=XIDOOLKPEHVFKHUWHXQGUHDJLHUWHVRIRUW ª(VLVWJHEURFKHQJODXEHLFK© ª5RERW HLQH $PEXODQ]© ULHI GHU 0DQQ GDQQ ZDQGWH HU VLFK DQ .\URQ ª%LV GLH $PEXODQ] NRPPW OHJHQ ZLU 6LH LQ GHQ ,QIRUDXP $EHU ZLU GUIHQ 6LH QLFKW WUDJHQ VRQGHUQ PVVHQ 6LH ]LHKHQ© ª(LQYHUVWDQGHQ©HUNOlUWH.\URQ 'LH )UDX XQGGHU0DQQIDVVWHQLKQDQGHQ$UPHQXQGVFKOHLIWHQLKQPHKUVFKOHFKWDOVUHFKWLQ HLQHQ5DXPKLQWHUGHP3IRUWHQURERW.\URQVDKIQI%LOGVFKLUPHXQGIQI.RQWUROOSDQHHOHXQG VRIRUWNDPLKPHLQHQHXH,GHH ª/DVVHQ 6LH PLFK ELWWH DOOHLQ© VDJWH HU XQG VW|KQWH ZLHGHU ª,FK PXVV JOHLFK VFKUHLHQ YRU 6FKPHU]HQXQGVFKlPHPLFKZHQQMHPDQGGDEHLLVW© ª:LUZDUWHQGUDXHQ©VDJWHGLH)UDX6LHKROWHVHLQHQ.RIIHU .DXP KDWWHQ VLH XQG GHU 0DQQ VLFK HQWIHUQW ULFKWHWH .\URQ %DUUDNXQ VLFK DXI |IIQHWH VHLQHQ .RIIHU XQG KRE GHQ REHUHQ %RGHQ DE DXI GHP GLH *HUlWH XQG :HUN]HXJH HLQHV &RPSXWHUWHFKQLNHUV EHIHVWLJW ZDUHQ 'DUXQWHU NDPHQ PHKUHUH NOHLQH VFKZDU]H .lVWHQ ]XP 9RUVFKHLQPLW.RQWUROOOLVWHQXQG6HQVRUSODWWHQ (UQDKPIQI.lVWFKHQKHUDXVWLSSWHLQUDVHQGHU(LOHDXIGLH6HQVRUHQXQG]RJGLH6FKXW]IROLH YRQ GHQ DXI GHQ 5FNVHLWHQ EHILQGOLFKHQ .OHEHIROLHQ 'DQDFK NOHEWH HU GLH .lVWFKHQ XQWHU GLH .RQWUROOSDQHHOHGHU&RPSXWHU7HUPLQDOV $QVFKOLHHQGOHJWHHUGHQREHUHQ%RGHQLQGHQ.RI IHU ]XUFN NODSSWH GHQ 'HFNHO ]X XQG WDVWHWH DXI GLH 6HQVRUHQ VHLQHV .RPPDQGR$UPEDQGV 'DQDFKZDUWHWHHUODXVFKHQGYRUGHU7UGHV,QIRUDXPV (V GDXHUWH QLFKW ODQJH GD YHUQDKP HU YRQ GUDXHQ LQ NXU]HQ ,QWHUYDOOHQ ODXWHV 3IHLIHQ XQG 6XPPHQLQGDVVLFKZHQLJVSlWHUODXWH5XIHXQGGDV7UDSSHOQYRQ)HQPLVFKWHQ .\URQ|IIQHWHGLH7U :LH HU HUZDUWHW KDWWH EOLQNWHQ GLH .RQWUROOHQ GHV 3IRUWHQURERWV ZLH YHUUFNW XQG DXV VHLQHQ /DXWVSUHFKHUQ GUDQJHQ GLH 3IHLI XQG 6XPPW|QH 'LH )UDX XQG GHU 0DQQ ZDUHQ YHUVFKZXQGHQ 'DIU UDQQWHQ DQGHUH /HXWH RIIHQVLFKWOLFK NRSIORV GXUFK GLH (PSIDQJVKDOOH GHV 9HUZDOWXQJVJHElXGHVYRQ,QWHUSODQHWDU\0LQHUDOV/WG 'UDXHQDXIGHU6WUDHKHXOWHHLQH6LUHQHGDQQKLHOWHLQ$PEXODQ]JOHLWHU=ZHL0HGRWHFKQLNHU XQGHLQ0HGRURERWHUYHUOLHHQGHQ*OHLWHUXQGNDPHQEHUGDV7UDQVSRUWEDQGLQGLH+DOOH ª+LHUVROOHLQ9HUOHW]WHUVHLQ©ULHIGHUHLQH0HGRWHFKQLNHU.\URQ]Xª:LVVHQ6LHZRZLULKQ ILQGHQ":DVLVWGHQQKLHUORV"© ª(LQH([SORVLRQLQGHU&KHIHWDJH©HUNOlUWH.\URQª(VPXVVPLQGHVWHQVGUHLLJ6FKZHUYHUOHW]WH JHJHEHQKDEHQ© 'HU0HGRWHFKQLNHUVWLHHLQH9HUZQVFKXQJDXVGDQQULHIHUVHLQHP.ROOHJHQ]X ª/DXIGXPLWGHP5RERWVFKRQYRU6LORQ,FKUXIHEHU7HOHNRP9HUVWlUNXQJXQGGLH)HXHUZHKU 8QGXQVKDWPDQJHVDJWMHPDQGKlWWHVLFKGDV%HLQJHEURFKHQ© ª:R LVW GLH &KHIHWDJH"© ZDQGWH VLFK GHU ]ZHLWH 0HGRWHFKQLNHU DQ .\URQ QDFKGHP GHU HUVWH KLQDXVJHODXIHQZDU ª,QGHQ6XEHWDJHQ©DQWZRUWHWH.\URQª0HKUZHLLFKDXFKQLFKW© ª.RPLVFK©VDJWHGHU0HGRWHFKQLNHU]XVLFKVHOEVW ZlKUHQG HU QHEHQ GHP 0HGRURERWHU ]XP QlFKVWHQ $QWLJUDYOLIW HLOWH ª6RQVW VLW]HQ GLH &KHIV LPPHUJDQ]REHQ+LHUYHUNULHFKHQVLHVLFKLQGHQ.HOOHUUlXPHQ© ª0LQHUDOHILQGHWPDQLP%RGHQQLFKWLQGHU/XIW©ULHI.\URQLKPQDFKGDQQIROJWHHULKPLQ HLQHPDQGHUHQDEZlUWVJHSROWHQ$QWLJUDYVFKDFKW (U KDWWH HLJHQWOLFK YRUJHKDEW VLFK DOV &RPSXWHUWHFKQLNHU DXV]XJHEHQ GHU ]X
,QVWDQGVHW]XQJVDUEHLWHQ DP +DXSWFRPSXWHU EHVWHOOW ZRUGHQ ZDU ,Q JURHQ )LUPHQ JDE HV IDVW LPPHU .RPSHWHQ]EHUVFKQHLGXQJHQ VR GDVV HU GDPLW UHFKQHQ GXUIWH GDVV VHLQ %OXII QLFKW GXUFKVFKDXWZXUGH 9RP+DXSWFRPSXWHUDXVKlWWHHUGDQQHLQH0|JOLFKNHLWJHIXQGHQGDV7HOHEHUZDFKXQJVV\VWHP ]XDNWLYLHUHQ'DGLH9HUEUHFKHULQGHP5DXPLQGHPVLH&DULOGDJHIDQJHQKLHOWHQEHVWLPPWGLH 7HOHDXJHQGHDNWLYLHUWKDWWHQEUDXFKWHHUQXUQDFK]XVHKHQ]XZHOFKHP5DXPGHU0RQLWRUJHK|UWH GHUGXQNHOEOLHE 'DQDFK KlWWH HU PLW GHP +DXSWFRPSXWHU GDV GLUHNW JHWDQ ZDV HU YRUKLQ EHU GLH ,QIRFRPSXWHUWHUPLQDOV LQGLUHNW JHWDQ KDWWH -HW]W NDQQWH HU ]ZDU &DULOGDV $XIHQWKDOWVRUW QLFKW JHQDXDEHUHUKDWWHGHQQRFKGLH*HOHJHQKHLWHUJULIIHQ9HUZLUUXQJ]XVWLIWHQZHLOHUQLFKWVLFKHU JHZHVHQZDUREPDQGHPª&RPSXWHUWHFKQLNHU©QLFKWHLQHQ$XISDVVHUPLWJHJHEHQKlWWH ,PPHUKLQGXUIWHHUDQQHKPHQGDVV&DULOGDQLFKWLQGHQVWlQGLJIUHTXHQWLHUWHQ5l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|W]OLFKMHPDQGODXWDXI(UKlWWHHVQLFKWJHK|UWZHQQHUHLQ5LFKWPLNURSKRQPLW9HUVWlUNHUXQG /DXWVSUHFKHUPLWGHP8OWUDVFKDOO5LFKWVWUDKOHUJHNRSSHOWKlWWH 6RIRUWVFKDOWHWHHUGHQ5LFKWVWUDKOHUDXVXQGDNWLYLHUWHVHLQHQ,PSXOVNRGHJHEHU ª*OHLFKELVWGXIUHL&DULOGD©VDJWHHU ª'DZlUHLFKQLFKWVRVLFKHU0LVWHU%DUUDNXQ©VDJWHMHPDQGKLQWHULKP (U IXKU KHUXP XQG VDK HLQHQ JURHQ KDJHUHQ 0DQQ YRU VLFK VWHKHQ HLQ GURKHQGHV *ULQVHQ LP *HVLFKWXQGHLQHQ'HVLQWHJUDWRULQGHU+DQG ª6LHNHQQHQPHLQHQ1DPHQ"©IUDJWHHUZlKUHQGKLQWHULKPGLH7UDXIJOLWW 'HU 0DQQ VWLH LKQ PLW GHU IUHLHQ +DQG YRU GLH %UXVW .\URQ WDXPHOWH UFNZlUWV GXUFK GLH 7U|IIQXQJXQGVWU]WH'HU8OWUDVFKDOO5LFKWVWUDKOHUILHOLKPDXVGHU+DQG 'HU 0DQQ ODFKWH K|KQLVFK ZDUI .\URQV .RIIHU KLQWHUKHU XQG NDP HEHQIDOOV LQ GHQ 5DXP 'LH 7UVFKORVVVLFKKLQWHULKP .\URQ %DUUDNXQ UDSSHOWH VLFK DXI XQG VDK &DULOGD DXI HLQHP ([SHGLWLRQVEHWW VLW]HQ 0LW GHP OLQNHQ+DQGJHOHQNZDUVLHDP%HWWJHVWHOODQJHEXQGHQ6LHVFKLFNWHLKPHLQWUDXULJHV/lFKHOQ(U OlFKHOWH]XUFNXQGVDJWH ª+DOOR&DULOGD(VGDXHUWQLFKWPHKUODQJHGDQQELVWGXIUHL© $EHUPDOVODFKWHGHU0DQQ ª6R IUHL ZLH PDQ QXU LP 7RGH VHLQ NDQQ GX KDOEH 3RUWLRQ ,FK ZXVVWH JOHLFK ZHU GDKLQWHUVWHFNWHDOVDOOH&RPSXWHUYHUUFNWVSLHOWHQ'DVZDUQLFKWHLQPDOXQJHVFKLFNWYRQGLUDEHU PLFKKDWGLHVH6SLHOHUHLQLFKWGXUFKHLQDQGHUJHEUDFKW,FKEUDXFKWHQXUKLHUKHU]XJHKHQXPGLFK]X HUZLVFKHQ© ª:HULVWGDV"©ZDQGWHVLFK.\URQDQ&DULOGD(UZROOWH=HLWJHZLQQHQ'HU0DQQDKQWHRIIHQEDU QLFKWV YRQ GHU EHYRUVWHKHQGHQ ,QYDVLRQ DXV 0HGRWHFKQLNHUQ 0HGRURERWHUQ XQG )HXHUO|VFKPDQQVFKDIWHQ ª.RUKLQ1HSKW©DQWZRUWHWH&DULOGD7RGD\ª(LQ%HUXIVNLOOHUYRP9RUVWDQGVYRUVLW]HQGHQ(\ULFK 6DQGW DQJHKHXHUW XP PLFK ]X HQWIKUHQ XQG ]X HUPRUGHQ IDOOV GX GHLQH (UPLWWOXQJHQ QLFKW DXIJHEHQVROOWHVW© 6LH EOLFNWH GDEHL .\URQ HLQGULQJOLFK DQ XQG VFKDXWH GDQQ ]X GHP 8OWUDVFKDOO5LFKWVWUDKOHU GHU QXUHLQHQKDOEHQ0HWHUDXHUKDOELKUHU5HLFKZHLWHODJ ª(V ZUGH ,KUHQ $XIWUDJJHEHUQ QLFKWV PHKU QW]HQ ZHQQ 6LH XQV XPEUlFKWHQ 0LVWHU 1HSKW©
HUNOlUWH.\URQª0XORQJ+HL]]XQG7HUIIHQ6FKDPLVVLQGDXIJHIORJHQXQGLFKKDEHGDIUJHVRUJW GDVV,QWHUSODQHWDU\0LQHUDOVVHFKVKXQGHUWWDXVHQG7RQQHQWULVRQLXPKDOWLJHQ*HVWHLQV]XUFNQLPPW XQGGLH6XPPHGLHVLHGDIUHUKDOWHQKDWDQGLH*&&]XUFN]DKOW© ª$EHUVLHKDWGRFKQLHPDOVVHFKVKXQGHUWWDXVHQG7RQQHQJHOLHIHUWVRQGHUQQXU]ZDQ]LJWDXVHQG XQGQXU]ZHLKXQGHUWDFKW]LJWDXVHQG7RQQHQ/LHIHUXQJZXUGHQYRUJHWlXVFKW©ULHI.RUKLQ1HSWK ª'LH6XPPHIUGLHDQGHUHQGUHLKXQGHUWWDXVHQG7RQQHQVLQGGLH6WUDIHIUGLH%HWUJHUHLHQXQG GLH (QWVFKlGLJXQJ IU GLH *&& GLH MD ]LHPOLFKH 8QNRVWHQ KDWWH XQWHU DQGHUHP IU XQVHU +RQRUDU©VDJWH.\URQ ª'DQQLVW,QWHUSODQHWDU\0LQHUDOVSOHLWH©VWHOOWH.RUKLQ1HSKWIHVW ª8QGNDQQ6LHQLFKWEH]DKOHQ©VDJWH&DULOGDª8PVRQVWDEHUZHUGHQ6LHQLFKWPRUGHQRGHU"© .RUKLQ1HSKWV*HVLFKWYHUILQVWHUWHVLFK ª,FKKDEHPHLQ+RQRUDUVFKRQHUKDOWHQDOVRPXVVLFKDXFKOLHIHUQ:HUZUGHPLUVRQVWZLHGHU HLQHQ$XIWUDJHUWHLOHQZHQQHVVLFKKHUXPVSUlFKHGDVVLFKNDVVLHUHRKQHHWZDVGDIU]XOHLVWHQ© (UKRUFKWHDXIDOVYRQGUDXHQODXWHV3ROWHUQHUW|Q WHXQGHLQHPHJDSKRQYHUVWlUNWH6WLPPHHWZDV8QYHUVWlQGOLFKHVULHI .\URQ EHQXW]WH GLH *HOHJHQKHLW GHP 8OWUDVFKDOO5LFKWVWUDKOHU HLQHQ 6WR PLW GHP )X ]X YHUVHW]HQGHULKQ]X&DULOGDEHI|UGHUWH&DULOGDVWHOOWHLKUHQ)XGDUDXI ª:DVLVWGDORV"©IUDJWH.RUKLQ1HSKWXQGULFKWHWHGHQ'HVLQWHJUDWRUGURKHQGDXI.\URQª:DV KDVWGXKDOEH3RUWLRQGDSURJUDPPLHUW"© .\URQVWHOOWHVLFKVRGDVVHU&DULOGDYHUGHFNWH ª,FKKDEHHLQH%RPEHYHUVWHFNW©VDJWHHUXQGOlFKHOWHK|KQLVFKª:HQQLFKVLHQLFKWLQQHUKDOE HLQHUKDOEHQ6WXQGHHQWVFKlUIHIOLHJWGDVJDQ]H*HElXGHLQGLH/XIW'LH=HLWOlXIWQDWUOLFKVHLW PHLQHU$QNXQIWLQGLHVHU6XEHWDJH© .RUKLQ1HSKWOLHGLH:DIIHVLQNHQXQGYHUDEUHLFKWH.\URQPLWGHUIUHLHQ+DQGHLQH2KUIHLJH 'HU&RPSXWHU]|JOLQJEHUVFKOXJVLFKXQGJDEGDPLWIU&DULOGDGDVª6FKXVVIHOG©IUHL &DULOGD ]|JHUWH NHLQHQ 0RPHQW 6LH KDWWH GHQ 8OWUDVFKDOO5LFKWVWUDKOHU DXIJHKREHQ ZlKUHQG .\URQGHP.LOOHUGLH6LFKWDXIVLHQDKPXQGDXIPD[LPDOH/HLVWXQJJHVFKDOWHW 'LH 8OWUDVFKDOOZHOOHQ WUDIHQ GLH :DIIHQKDQG .RUKLQ 1HSKWV XQG HQWIDOWHWHQ HLQH :LUNXQJ GLH HWZD]HKQPDOVWlUNHUZDUDOVGLHHLQHU8OWUDVFKDOO%UDWU|KUH 'HU.LOOHUEUOOWHZLHDP6SLH6HLQHPLVVKDQGHOWH+DQGYHUPRFKWHGLH:DIIHQLFKW]XKDOWHQ $EHU HU JDE QRFK QLFKW DXI VRQGHUQ EFNWH VLFK XP GHQ 'HVLQWHJUDWRU PLW GHU DQGHUHQ +DQG DXI]XKHEHQ &DULOGD]|JHUWH6LHKlWWHDXIGHQ.RSIGHV.LOOHUVªVFKLHHQ©PVVHQGHUPRPHQWDQGLH:DIIH YHUGHFNWHXQGVLHNRQQWHQLFKWNDOWEOWLJW|WHQ .\URQ UHJLVWULHUWH HV XQG KDQGHOWH Y|OOLJ JHJHQ VHLQH 1DWXU DOV HU GHQ VFKZHUHQ .RIIHU DXIKRE XQGPLW:XFKWDXIGHQ+LQWHUNRSIGHV.LOOHUVIDOOHQOLH 6HXI]HQGVDFNWH.RUKLQ1HSKW]XVDPPHQXQGVWUHFNWHVLFK 1XU 6HNXQGHQ VSlWHU ZXUGH GLH 7U PLWHLQHP'HWRQDWRUDXIJHEURFKHQ'UHL)HXHUZHKUPlQQHU VWDUUWHQLQGHQ5DXP ª%HLP-XSLWHU©ULHIHLQHUYRQLKQHQª.DWDVWURSKHQDODUPXQGQLUJHQGZREUHQQWHV© ª'DOLHJWZHQLJVWHQVHLQHU©VDJWHHLQDQGHUHU)HXHUZHKUPDQQXQGGHXWHWHDXI.RUKLQ1HSKW ª'HULVWNHLQ)DOOIUGLH)HXHUZHKUVRQGHUQIUGLH-XVWL]©HUNOlUWH.\URQ%DUUDNXQ ª2UELWHURGHUQLFKWGDVPXVVEHJRVVHQZHUGHQ©ULHI(NURQ9DUPLQGXQGKROWHHLQH)ODVFKHDXV GHP .KOIDFK VHLQHV %URVFKUDQNV ª'LH )LUPD &RPSXWHU.LG KDW HLQH /HLVWXQJ YROOEUDFKW GLH PHKUZHUWLVWDOVHLQHJHZRQQHQH5DXPVFKODFKWKRIIHQWOLFKYHUJDQJHQHU=HLWHQ© ª6RJURDUWLJZDUHVQXQDXFKZLHGHUQLFKW©HUZLGHUWH.\URQ%DUUDNXQXQGEOLQ]HOWH&DULOGDXQG (DUQ\ ]X ª:LU KDEHQ XQV QXU JHJHQVHLWLJ JHVXFKW XQG GDEHL GLH /|VXQJ GHU EHLGHQ )lOOH JHIXQGHQ© ª%HLGHUZHLHQ.UHDWXUGHU:DKUKHLW©ULHI$O\LS6DKJLLU\ª6LHVROOWHQ,KU/LFKWQLFKWKLQWHU
GLH6FKDXIHOVWHOOHQZLHPDQDXI7HUUDPDQFKPDOVDJW© ª+LQWHU GHQ 6FKHIIHO© NRUULJLHUWH LKQ (DUQ\ ª$EHU GLH 5HGHZHQGXQJ YHUVWHKW KHXWH RKQHKLQ QLHPDQGPHKUQLFKWHLQPDO.LG© 'LHIQI3HUVRQHQZDUHQHLQHQ7DJQDFKGHP=ZLVFKHQIDOOEHL,QWHUSODQHWDU\0LQHUDOVLP%UR GHV LQ]ZLVFKHQ JHKHLOWHQ 6LFKHUKHLWVEHDXIWUDJWHQ IU ,PSHULXP$OSKD ]XVDPPHQJHNRPPHQ XP QRFK YHUVFKLHGHQH (LQ]HOKHLWHQ ]X HU|UWHUQ GD 9DUPLQG XQG GHU %OXH QRFK QLFKW DOOHV GXUFKVFKDXWHQ (NURQ9DUPLQGJRVVIQI*OlVHUYROOXQGVDJWH ª%HLGHUVFKZDU]HQ.UHDWXUGHV)URKVLQQV,FKVFKODJHYRUZLUWULQNHQDXIGHQ(UIROJ© ª:DV LVW GDV EHUKDXSW"© IUDJWH $O\LS 6DKJLLU\ XQG VFKLHOWH PLW VHLQHQ .DW]HQDXJHQ DXI GLH )ODVFKH ª:HLHU5XP©HUNOlUWH9DUPLQGª$XVGHUHUVWHQ=XFNHUURKUHUQWHVHLWGHU:LHGHUEHVLHGOXQJGHU (UGH1HKPWGLH*OlVHU3URVW© 6LHWUDQNHQRKQH$XVQDKPH .\URQ%DUUDNXQULDQVFKOLHHQGGHQ0XQGZHLWDXIXQGVFKQDSSWHQDFK/XIWZlKUHQG&DULOGD LKU*ODVQRFKHLQPDOKLQKLHOW ª'LH XQVLFKWEDUH .UHDWXU GHV *UDXHQV PXVV GDV =HXJ JHPL[W KDEHQ© PHLQWH GHU %OXH ª9RU PHLQHQ$XJHQGUHKWVLFKDOOHV© ª%HL 5XQGXPVLFKW LVW GDV HLJHQWOLFK JDU QLFKW P|JOLFK© VDJWH .\URQ XQG VSLHOWH GDPLW DXI GLH ]ZHLYRUGHUHQXQG]ZHLKLQWHUHQ$XJHQGHV%OXHVDQª'HU5XPEUHQQWDOOHUGLQJVZLH)HXHUDEHU LFK IKOH PLFK VR OHLFKW GDVV LFK GHQ 6FKPHU] JHUQ QRFK |IWHU HUWUDJH 6FKHQNH QDFK 8QVLFKHUKHLWVSURGX]HQW© ª,KUVHLGVHOWVDPH*HVFK|SIH©HUNOlUWH(DUQ\ª,KUIHLHUWGHQ7ULXPSKHXUHV*HLVWHVLQGHPLKU 8QVLQQUHGHW© ª6RVLQGZLUQXQHLQPDO©HUZLGHUWH(NURQ9DUPLQGª$EHUEHYRUZLULQV3KLORVRSKLHUHQJHUDWHQ VROOWHQZLUXQVDQK|UHQZDVDXVGHQ9HUEUHFKHUQJHZRUGHQLVW© ª:LU KDEHQ VR]XVDJHQ ]ZHL 5HVXOWDWH DXV HLQHU $XIJDEHQVWHOOXQJ HUKDOWHQ© HUNOlUWH &DULOGD ª,QGHPZLUGHU6DFKHPLWGHQ6DERWDJHDNWHQQDFKJLQJHQILHOHQZLUGHQ&RPSXWHU%HWUJHUQDXI LFKZXUGHJHNLGQDSSWXQG(DUQ\ZXUGHYRQ%\ULOOD,PSOHUKHUHLQJHOHJW'DGXUFKNDP.\URQHUVW DXI GLH ULFKWLJH 6SXU 'LH %HWUJHU VWHLJHUWHQ VHLQHQ (LIHU QRFK ZHLO VLH PLFK DOV *HLVHO DXVVSLHOWHQ 'DGXUFK GDVV (DUQ\ LQ HLQH )DOOH JHORFNW ZXUGH GLH VHLQHU 1DWXU ZHJHQ QLFKW IXQNWLRQLHUWHVWLHHQGLH%HWUJHULKQSUDNWLVFKDXIGLH8UKHEHUGHU6DERWDJHDNWH© ª8QGGLHVHZLHGHUXPVWLHHQPLWGHQZLVVHQVFKDIWOLFKHQ*HKLOIHQGHU%HWUJHU]XVDPPHQLP ZDKUVWHQ 6LQQH GHV :RUWHV© ZDUI (DUQ\ HLQ ª1DGHVK 7D\UHU XQG 2UQ .XIWDU IORKHQ PLW GHP HLQ]LJHQ 5HWWXQJVERRWDXVGHP9HUVDQGVDWHOOLWHQ=XUJOHLFKHQ=HLWVWDUWHWHQ08/21*+HL]]XQG7HUIIHQ 6FKDPLV PLW HLQHP %HLERRW YRQ LKUHP VRJHQDQQWHQ ([SHULPHQWDOVDWHOOLWHQ 6LH ZROOWHQ DXI GHP 0DUVODQGHQ'DVZROOWHQ7D\UHUXQG.XIWDUDXFKQXUVWHXHUWHLKU$XWRSLORWHLQHQIDOVFKHQ.XUV 'DGXUFKIORJHQGLHEHLGHQ%RRWHJHQDXDXIHLQDQGHU]X© (U]XFNWHGLH6FKXOWHUQ ª:DV ZHLWHU JHVFKDK HUIXKU LFK HUVW GXUFK GLH 6DWHOOLWHQNRQWUROOVWDWLRQ 6LH RUWHWH GLH EHLGHQ %RRWH XQG UHJLVWULHUWH GDVV GDV %HLERRW YRP ([SHULPHQWDOVDWHOOLWHQ DXVZLFK GDVV DEHU GDV 5HWWXQJVERRWLKPGHQ:HJDEVFKQLWWVRGDVVHV]XP=XVDPPHQVWRNDPEHLGHPEHLGH)DKU]HXJH H[SORGLHUWHQ© ª'LHEODXH.UHDWXUGHU+HLPWFNHPXVVVLHJHOHQNWKDEHQ©ZDUI$O\LS6DKJLLU\HLQ ª,FKYHUPXWHHKHU6DERWDJH©HUZLGHUWH(DUQ\ª'DV5HWWXQJVERRWGHV9HUVDQGVDWHOOLWHQZXUGH ZLH LFK IHVWVWHOOWH YRU VHFKV :RFKHQ JHZDUWHW 'HU 7HFKQLNHU GHU GLH :DUWXQJ YRUQDKP ZXUGH HLQH :RFKH VSlWHU YHUKDIWHW ZHLO HU EHL $UEHLWHQ DXI HLQHP /HLFKWHQ .UHX]HU GHU )ORWWH GHQ )HXHUOHLWFRPSXWHUPLWHLQHU$EEUDQGODGXQJ]HUVW|UWH© ª6FKUHFNOLFK© VDJWH .\URQ ª'DQQ ZXUGHQ GLH EHLGHQ 8UKHEHU GHU 6DERWDJH GDV 2SIHU HLQHV LKUHU2SIHU©
ª'HU9HUVDQGVDWHOOLWH[SORGLHUWHQLFKWZDKU"©IUDJWH&DULOGD ª7D\UHU XQG .XIWDU KDWWHQ VHLQ 5HVHUYHNUDIWZHUN EHU GLH %HODVWEDUNHLWVJUHQ]H KRFKJHVFKDOWHW XQG GLH 6LFKHUKHLWVVFKDOWXQJHQ ]HUVW|UW© EHULFKWHWH (DUQ\ ª(V JHODQJ PLU JHUDGH QRFK GHQ 6DWHOOLWHQ PLW GHP HLQ]LJHQ +LOIVWULHEZHUN DXV GHU 0DUVXPODXIEDKQ ]X VWHXHUQ GDQQ PXVVWH LFK DXVVWHLJHQ'LH6DWHOOLWHQNRQWUROO6WDWLRQDODUPLHUWHHLQHQ5HWWXQJVNUHX]HUGHUPLFK GDQQ EDUJ /HLGHU JLQJ EHL GHU ([SORVLRQ GHU ODULVFKH &RPSXWHU YHUORUHQ PLW GHP GLH 3RVLWURQLNHQGHU&RPSXWHU%DXVlW]HPDQLSXOLHUWZRUGHQZDUHQ© .\URQ%DUUDNXQVSUDQJHUUHJWDXI ª(LQODULVFKHU&RPSXWHU8QGGDVVDJVWGXHUVWMHW]W(DUQ\,FKZUGHVRQVWHWZDVGDIUJHEHQ ZHQQLFKZLHGHUPLWHLQHPODULVFKHQ&RPSXWHUDUEHLWHQN|QQWH8QGGXOlVVWLKQH[SORGLHUHQ© ª,FKNRQQWHLKQVFKOHFKWLQGLH7DVFKHVWHFNHQ.LG©HQWJHJQHWH(DUQ\ ª8QGZDVZXUGHPLWGHQ%HWUJHUQYRQ,QWHUSODQHWDU\0LQHUDOV"©ZROOWH(NURQ9DUPLQGZLVVHQ ª'HU 9RUVWDQGVYRUVLW]HQGH (\ULFK 6DQGW EHJLQJ 6HOEVWPRUG DOV HU IHVWVWHOOWH GDVV GDV .RQWR VHLQHU)LUPD]XJXQVWHQGHU*&&Y|OOLJJHOHHUWZRUGHQZDU©VDJWH&DULOGD7RGD\ª6HLQHEHLGHQ .RPSOL]HQXQGGHU.LOOHU.RUKLQ1HSKWHOVLQGYHUKDIWHWXQGVHKHQLKUHU9HUXUWHLOXQJHQWJHJHQ© ª$EHU GXUFK GHQ .RQNXUV YRQ ,QWHUSODQHWDU\ 0LQHUDOV ZHUGHQ YLHOH /HXWH DUEHLWVORV© ZDQGWH 9DUPLQGHLQ ª.HLQHLQ]LJHU©HUNOlUWH$O\LS6DKJLLU\ª$XIPHLQHQ9RUVFKODJKLQZLUGGLH*&&GLHJDQ]H )LUPDEHUQHKPHQXQGVDQLHUHQ© ª+RIIHQWOLFKQLFKWPLWQHXHQ&RPSXWHU6FKZLQGHOHLHQ©QHFNWH(DUQ\GHQ%OXH ª'LHJHOEH.UHDWXUGHU/JHVROOPLFKYHUVFKOLQJHQZHQQLFKVRHWZDV]XOLHH©VDJWHGHU%OXH ª&RPSXWHU%HWUXJORKQWVLFKQLFKW© ª$XHU IU GLH )LUPD &RPSXWHU.LG &R© PHLQWH &DULOGD ª6LH KDEHQ KRIIHQWOLFK XQVHU +RQRUDUEHUZLHVHQ$O\LS© ª'LHZHLH.UHDWXUGHU:DKUKHLWLVWPHLQ=HXJH©YHUVLFKHUWH$O\LS6DKJLLU\IHLHUOLFK (NURQ9DUPLQGKREGLH)ODVFKH ª'LHZHLH.UHDWXUDXVGLHVHU)ODVFKHVROOXQVIUXQVHUH0KHQEHORKQHQ)UHXQGH:LUKDEHQ HLQHDOOHQ =LYLOLVDWLRQHQGLHVHU*DOD[LVGURKHQGH*HIDKUDEJHZHQGHWXQGJHZLVVHQORVH%HWUJHUHQWODUYW© ª,FKK|UHLPPHUZLU©VDJWH&DULOGDª'DEHLKDEHQ6LHMDQLFKWVGD]XEHLJHWUDJHQVRQGHUQVRJDU VHOEVW6DERWDJHEHWULHEHQ(NURQ© ª'DV LVW MD JHUDGH PHLQ %HLWUDJ© HUNOlUWH 9DUPLQG ª2KQH PHLQH 6DERWDJH KlWWH VLFK .\URQ PHLQHQ 6HOEVWEDX&RPSXWHU QLHPDOV DQJHVHKHQ XQG DXFK QLFKW KHUDXVJHIXQGHQ GDVV HU PLFK ]XU 6DERWDJHDQJHVWLIWHWKDWWH'DUDXIWULQNHQZLU© ª8QG GDUDXI GDVV LFK EDOG HLQHQ ODULVFKHQ &RPSXWHU ILQGH© VDJWH .\URQ %DUUDNXQ ª,KU N|QQW HXFK JDU QLFKW YRUVWHOOHQ ZDV VLFK GDPLW DOOHV DQIDQJHQ OlVVW ZHQQ PDQ EHU PHLQH )lKLJNHLWHQ YHUIJW© (1'( $OV3(55<5+2'$17DVFKHQEXFK%DQGHUVFKHLQW
'DVURWH/HXFKWHQ
7|GOLFKHV6SLHOXPGLHXOWLPDWH0DFKW (LQ5RQDOG7HNHQHU$EHQWHXHUYRQ+*)5$1&,6 ª8QDXIKDOWVDPUFNWHGDVURWH/HXFKWHQKHUDQGDVEHUHLWVGLH:LVVHQVFKDIWOHUXQG7HFKQLNHUDXI GHP3DUNSODW]HUIDVVWXQGEHZXWORVJHPDFKWKDWWH-HW]WJULIIHVQDFKGHQ8626SH]LDOLVWHQGLH YRUHLQHUIXJHQORVZLUNHQGHQ6WDKOZDQGVWDQGHQ© (LQH XQKHLPOLFKH *HIDKU EHGURKW GHQ 3ODQHWHQ ;H[WHU XQG YHUlQGHUW GLH 3HUV|QOLFKNHLW LKUHU %HZRKQHU 6 0 .HQQHQ XQG 5RQDOG 7HNHQHU JHKHQ GHQ 'LQJHQ DXI ;H[WHU QDFK 'LH EHLGHQ 8626SH]LDOLVWHQ HQWGHFNHQ HLQH WRGEULQJHQGH :DIIH XQG HLQ JHKHLPQLVYROOHV :HVHQ GDV GLH XOWLPDWH0DFKWDQVWUHEW (LQ5RPDQDXVGHP-DKUKXQGHUW 1DFK',((,10$1123(5$7,21XQG'(5*$/$.7,6&+(63,(/(5%lQGHXQG LVW GLHV GDV GULWWHY|OOLJLQVLFKDEJHVFKORVVHQH$EHQWHXHUPLW5RQDOG7HNHQHUGHP6SH]LDOLVWHQ GHU862:HLWHUH7HNHQHUURPDQHVLQGLQ9RUEHUHLWXQJ