357DVFKHQEXFK$XIODJH1RY 3HUU\5KRGDQ([SHGLWLRQGHU7RGJHZHLKWHQ
([SHGLWLRQGHU7RGJHZHLKWH...
13 downloads
393 Views
327KB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
357DVFKHQEXFK$XIODJH1RY 3HUU\5KRGDQ([SHGLWLRQGHU7RGJHZHLKWHQ
([SHGLWLRQGHU7RGJHZHLKWHQ
6LHEUHFKHQDXI]XHLQHU5HLVHRKQH5FNNHKU (LQ6)5RPDQYRQ 3(7(57(55,' Ä$OVDOOH%HVDW]XQJVPLWJOLHGHUGHU085*'23<$=$DXIGHP%RGHQGHV3ODQHWHQ VWDQGHQPDFKWH5HJLQDOG%XOOVLFKDXIGHQ:HJ]XPZUDFNHQ%HLERRWGHU,&$ *HQDXLQGLHVHP$XJHQEOLFNNDPHWZDVKHUDQJH]LVFKWVFKOXJPLWHLQHPKHOOHQ7RQDXI GLH+OOHGHU6SDFH-HWXQGVFKZLUUWHGDYRQ Ä6LHKDQ³VWLH%XOO\KHUYRUÄZLUZHUGHQEHUHLWVHUZDUWHW«³ (LQH)XQNVRQGHLP$OOZHLVWGHQ:HJ]XMHQHQ0lQQHUQXQG)UDXHQGLH7HUUDGHQ 5FNHQNHKUWHQDOVVLHQDFKGHU=HUVW|UXQJGHV3ODQHWHQ:DQGHUHUNHLQHUHODWLYH 8QVWHUEOLFKNHLWPHKUHUKDOWHQNRQQWHQ -DKU]HKQWHGDQDFKJHKW5HJLQDOG%XOOJHPHLQVDPPLWHLQLJHQ1DFKNRPPHQHU 7RGJHZHLKWHQGDUDQGDV6FKLFNVDOGHU9HUVFKZXQGHQHQ]XNOlUHQ'LH6SXUIKUWQDFK 6KDNRRWHHHLQHU:HOWGHUW|GOLFKHQhEHUUDVFKXQJHQ (LQ5RPDQDXVGHP-DKU $OVGHU7UVXPPHUVLFK]XPYLHUWHQ0DOPHOGHWHZXUGH.DPHH1\VVHQZDFK6LHZROOWH ZLHJHZRKQWDXVGHP%HWWVSULQJHQDEHUGLH)ROJHQHLQHUHEHQVRODQJHQZLHIHXFKWHQ1DFKW ZDUIHQVLHVRIRUWZLHGHU]XUFNLQGLH.LVVHQ'LHMXQJH)UDXVW|KQWHZHKOHLGLJ(UVWEHLP ]ZHLWHQ$QODXIVFKDIIWHVLHHVDXIGLH%HLQH]XNRPPHQ6LH]RJVLFKKDVWLJDQHLQSDDU KHOOH6RFNHQGLHJHJHQGLH.lOWHGHV)XERGHQVVFKW]WHQGD]XHLQZHLWHVIOLHGHUIDUEHQHV +DXVNOHLGPLW*UWHO6RSDWVFKWHVLHKLQEHU]XU7UXQG|IIQHWHÄ6LH"³HQWIXKUHVLKUDOV VLHGHQMXQJHQ0DQQDXIGHU6FKZHOOHHUNDQQWHÄ7XWPLUOHLG³VDJWHGHU3RVWERWHÄ$EHU GLHVHU6FKULHEKLHUNRPPWPLWHLQHU=XVWHOOXQJVXUNXQGH'DEUDXFKHLFKVFKRQLKUH 8QWHUVFKULIW³.DPHHVWDUUWHDXIGHQ%ULHI'HU8PVFKODJZDUKHOOEODX±XQGGDVNRQQWH VFKZHUOLFKHWZDV*XWHVEHGHXWHQ.DPHHQDKPGHQ6WLIWXQGNUDNHOWHLKUH8QWHUVFKULIWDXI GDV)RUPXODUGDQQQDKPVLHGHQ%ULHILQ(PSIDQJÄ+LHUGLHDQGHUH3RVW³VDJWHGHU%RWH XQGGUFNWHLKUHLQHQ6WDSHO%ULHIHLQGLH+DQGÄ'HPQlFKVWZLHGHULP%ULHINDVWHQ³ .DPHHEHGDQNWHVLFKPLWHLQHPVFKPHU]OLFKHQ/lFKHOQÄ7HXIHODXFK³VDJWHVLHVREDOGVLH GLH7UKLQWHUVLFKJHVFKORVVHQKDWWHÄ:DVKDEHLFKGHQQMHW]WZLHGHUYHUEURFKHQ"³6LH GDFKWHNXU]QDFK'DV6WUDIPDQGDWZHJHQ)DOVFKSDUNHQVKDWWHVLH]lKQHNQLUVFKHQGEH]DKOW 'LHOHW]WH.ODXVXULPgIIHQWOLFKHQ5HFKWKDWWHVLH]ZDULQGHQ7HLFKJHVHW]WDEHUGDVZDU NHLQ*UXQGGHUGLH8QLYHUZDOWXQJYHUDQODVVWKlWWH%ULHIHPLW5FNVFKHLQORV]XVFKLFNHQ 9RUVLFKWVKDOEHUOLH.DPHHGHQ%ULHIOLHJHQ(UVWDPPWHZLHGHU6WHPSHOLQGHUOLQNHQ XQWHUHQ(FNHYHUULHWYRQHLQHP1RWDU'DVYHUDQODVVWH.DPHH]XGHU9HUPXWXQJ LUJHQGMHPDQGVHLJHVWRUEHQ±XQG7RGHVERWVFKDIWHQZROOWHVLHDXIQFKWHUQHQ0DJHQQLFKW DQQHKPHQ(LQHULKUHUYHUIORVVHQHQ)UHXQGHHLQEHJDEWHU3RVLWURQLNWIWOHUKDWWHVLFKHLQSDDU 0RQDWHODQJPLWLKUHU%XGHEHVFKlIWLJW'DV(UJHEQLVNRQQWHVLFKVHKHQODVVHQ.DPHH
EUDXFKWHQXUHLQHQHLQ]LJHQ.QRSI]XEHWlWLJHQXPHLQJDQ]HV3URJUDPPDEODXIHQ]XODVVHQ 'LH9RUKlQJHZXUGHQDXIJH]RJHQ'DV/LFKWHLQHVVWUDKOHQGVFK|QHQ6RPPHUPRUJHQVILHOLQ GLH5lXPH'LH.DIIHHPDVFKLQHOLHIDQGDV:DVVHUPLWGHP)UKVWFNVHLGDULQZXUGHKHL XQGLP%DFNRIHQEXNHQ]ZHL%U|WFKHQDXVGHU7LHINKOWUXKHKRFK$XHUGHPVSUDQJGLH 0XVLNDQODJHDQ.DPHHOLHEWH.ODVVLNHUXQGEDURFNH0XVLN(VJDEHLQHQ6HQGHULQGHU 1lKHGHUIDVWQXUVROFKH.OlQJHSURGX]LHUWH%HJOHLWHWYRQIHLHUOLFKHP 7URPSHWHQJHVFKPHWWHUVXFKWH.DPHHGLH'XVFKHDXI(WOLFKH/LWHUKHLHQXQGNDOWHQ:DVVHU PDFKWHQGDQQHLQHOHLGOLFKHQZDFKHQ0HQVFKHQDXVGHUMXQJHQ)UDX.DPHH1\VVHQZDU NQDSSIQIXQG]ZDQ]LJ-DKUHDOWJXWJHZDFKVHQQLFKW]XSSLJQLFKW]XPDJHUGD]XEORQG XQGEODXlXJLJ.|USHUOLFKXQGJHLVWLJZDUVLHYROONRPPHQJHVXQGDQVRQVWHQVWXGLHUWHVLHLP ]HKQWHQ6HPHVWHU5HFKWVZLVVHQVFKDIWHQDQGHU8QLLQ7HUUDQLD (LQ%OLFNDXIGHQ6WXQGHQSODQ]HLJWH.DPHHGDVVVLHDQGLHVHP7DJGDV+DXVQLFKWYHUODVVHQ ZUGH±HVJDEHLQH0HQJHDXI]XUlXPHQ:lVFKHPXVVWHJHZDVFKHQZHUGHQXQGDXIGHP 6FKUHLEWLVFKODJQRFKLPPHUGHU$QIDQJHLQHUVFKULIWOLFKHQ+DXVDUEHLWPLWGHUVLFK.DPHH GHQ1DFKPLWWDJXQGGHQ$EHQG]XUXLQLHUHQJHGDFKWH'HP7DJHVDEODXIHQWVSUHFKHQG]RJ VLHVLFKDQ±EHTXHPH+RVHQXQGGDUEHUHLQHQZHLWHQ3XOORYHUPLW5ROONUDJHQ $P)UKVWFNVWLVFKJLQJ.DPHHODQJVDPGLH3RVWGXUFK'DZDUHQGLHEOLFKHQ:HUEH VFKULIWHQ6RQGHUDQJHERWHYRQ)DFKYHUODJHQ.UHGLWKDLHGLHQDFK.XQGHQVXFKWHQ,QGHU %XFKKDQGOXQJODJHLQH1DFKOLHIHUXQJGHU/RVHEODWWJHVHW]HVVDPPOXQJIU.DPHHEHUHLWZDV .DPHHHLQHQOHLVHQ6HXI]HUHQWORFNWH'LH%ODWWHLQ]XVRUWLHUHQZUGHHLQHQKDOEHQ 1DFKPLWWDJNRVWHQREHQGUHLQULVVGLHVH$QVFKDIIXQJHLQEHDFKWOLFKHV/RFKLQ.DPHHV NlUJOLFKHV%XGJHW 'HURPLQ|VH%ULHILPKHOOHQ%ODXZDUQRFKLPPHUXQJH|IIQHW.DPHHKDWWHLKQ]ZLVFKHQGLH %OWHQHLQHVEXQWHQ6WUDXHVJHVWHFNWGHUDXIGHU0LWWHGHVRYDOHQ.LHIHUWLVFKHVVWDQG .DPHHN|SIWHGDV)UKVWFNVHLXQGGDFKWHEHUGHQ%ULHIQDFK:DVNRQQWHZRKOGDULQ VWHKHQ"9HUZDQGWHKDWWHVLHNHLQH,KUH(OWHUQZDUHQEHLHLQHP8QIDOOJHVWRUEHQDOVVLHVHFKV -DKUHDOWJHZHVHQZDU'DQDFKKDWWHVLFKGHU6WDDWXPGLH9ROOZDLVHJHNPPHUW±JDUQLFKW HLQPDOVFKOHFKWZLH.DPHHLQLKUHP)DOO]XJHEHQPXVVWH,KU6WXGLXPILQDQ]LHUWH.DPHH ZLH]HKQWDXVHQGDQGHUHDXFK±VLHMREEWHLQGHQ6HPHVWHUIHULHQXQGVSDUWHGDEHLGDV*HOGIU GLH6HPHVWHU]HLW]XVDPPHQ0LWGLHVHP9HUIDKUHQOLHHQVLFKGLHQRUPDOHQ6HPHVWHUUHODWLY JXWGXUFKVWHKHQEHL([DPHQVVHPHVWHUQZXUGHHVGDQQODQJVDPNULWLVFK±DXFKGLH)HULHQ ZXUGHQGDQQIU3UIXQJVYRUEHUHLWXQJHQEHQ|WLJW+DWWHGHUJHKHLPQLVYROOH%ULHIPLW ILQDQ]LHOOHQ'LQJHQ]XWXQ".DPHHEHVFKORVVGHP5lWVHOHQGOLFKGLH6WLUQ]XELHWHQ6LH QDKPGHQ8PVFKODJDXIXQG|IIQHWHLKQ$EJHVDQGWZDUHUYRQHLQHPUHQRPPLHUWHQ $QZDOWVEUR$UPVWURQJ$UPVWURQJ $UPVWURQJ.DPHHKDWWHGDYRQJHK|UWHLQSLHNIHLQHU /DGHQÄ:DVZROOHQGHQQGLHYRQPLU"³IUDJWHVLFK.DPHH'HU,QKDOWZDUNQDSSXQGNODUH Ä6LHZHUGHQHUVXFKWVLFKDPLQXQVHUHQ5lXPOLFKNHLWHQHLQ]XILQGHQ$XVODJHQ ZHUGHQHUVWDWWHW³'DVZDUDOOHV.HLQ+LQZHLVDXILUJHQGZHOFKH$EVLFKWHQDXI)RUGHUXQJHQ ZHGHU8QDQJHQHKPHVQRFKIUHXGLJHhEHUUDVFKXQJHQ6LHVROOHHLQIDFKNRPPHQ $XWRPDWLVFKVDK.DPHHDXIGLH8KU'LH'LJLWDODQ]HLJHYHUULHWLKU]XPHLQHQGDVVHV HLJHQWOLFK=HLWZDUIUGLH)UKYRUOHVXQJ±7KHPD'DV,QVWLWXWGHUFXOSDLQFRQWUDKHQGR± XQGGDVVPDQ]XP]ZHLWHQGHQVFKULHE.DPHHKDWWHDOVRQRFKHLQSDDU7DJH=HLW VLFK]XEHUOHJHQREVLHGLH(LQODGXQJDQQHKPHQVROOWHRGHUQLFKW+DVWLJVFKODQJGLHMXQJH )UDXGLHOHW]WHQ5HVWHGHV)UKVWFNVKHUXQWHU:HQQVLHVFKRQGLH9RUOHVXQJYHUEXPPHOWH ZROOWHVLHLQGLHVHU=HLWZHQLJVWHQVDXIDQGHUHP*HELHWHWZDVJHOHLVWHWKDEHQ.DPHHUlXPWH GDV*HVFKLUUIRUWGDQDFKHQWIHUQWHVLHDXVLKUHP:RKQ]LPPHUDOOH6SXUHQGHUOHW]WHQ)HLHU *HEXUWVWDJHNRQQWHQ]XU6WUDSD]HZHUGHQZHQQPDQWULQNIHVWH)UHXQGHKDWWHVWHOOWH.DPHH IHVW 6LHEHZRKQWHHLQQLFKWHEHQNOHLQHV$SSDUWHPHQWDP5DQGYRQ7HUUDQLDVLHKDOIGHP6RKQ GHV%HVLW]HUVEHLGHQ+DXVDUEHLWHQXQGVRKLHOWVLFKGLH0LHWHLQHUVFKZLQJOLFKHQ*UHQ]HQ (LQJHULFKWHWZDUHQGLH5lXPHLQHLQHPIU.DPHHW\SLVFKHQ6WLO±YLHOKHOOHV+RO]YLHO
/HGHUP|JOLFKVWZHQLJ0HWDOONHLQHUOHL.XQVWVWRIIH$QGHQ:lQGHQKLQJHQ]XP7HLO HLJHQH6FKQDSSVFKVVH]XPDQGHUHQSUHLVZHUWHDEHUWHFKQLVFKJXWH5HSURGXNWLRQHQDOWHU 0HLVWHU$XVGHQ/DXWVSUHFKHUQNODQJHLQH)O|WHQVRQDWHYRQ-RKDQQ6HEDVWLDQ%DFKZlKUHQG .DPHHLKUH%OXPHQJRVVXQGLQ*HGDQNHQLPPHUZLHGHU]XGHPRPLQ|VHQ%ULHI ]XUFNNHKUWH(QGOLFKKDWWHVLHJHQXJQDFKJHGDFKW6LHOLHGLH*LHNDQQHVWHKHQGUHKWHGHP )O|WHQVSLHOHUGLH/XIWDEXQGJULIIQDFKGHP,QWHUNRP$XIGHP%ULHINRSIZDUGLH1XPPHU DXIJHGUXFNW'LH5RERWVWLPPHGLHVLFKDPDQGHUHQ(QGHGHU/HLWXQJPHOGHWHVFKDIIWHHV VRJDUVREODVLHUW]XNOLQJHQZLHPDQHVEHLHLQHUDXIDOWHQJOLVFKIULVLHUWHQ.DQ]OHLYHUPXWHQ GXUIWHÄ,FKKlWWHJHUQH0LVWHU$UPVWURQJJHVSURFKHQ³VDJWH.DPHHDXIV*HUDWHZRKO Ä%HGDXHUH0LVWHU$UPVWURQJLVWYHUVWRUEHQEHUHLWVYRUOlQJHUHU=HLW³DQWZRUWHWGHU5RERW YRUQHKP$XIGHP%LOGVFKLUPHUVFKLHQJOHLFK]HLWLJGDV)LUPHQVFKLOG±GUHLVWDUN YHUVFKQ|UNHOWHLQHLQDQGHUYHUVFKOXQJHQH$VÄ'DQQKlWWHLFKJHUQH0LVWHU$UPVWURQJ=ZR JHVSURFKHQ³IXKU.DPHHIRUW$XFKGHU]ZHLWH,QKDEHUGHU)LUPDZDUVFKRQYRUOlQJHUHU=HLW YHUVWRUEHQ.DPHHHUVSDUWHHVVLFKQDFKGHP*HVXQGKHLWV]XVWDQGGHVGULWWHQ,QKDEHUV]X IUDJHQ±YHUPXWOLFKODJHUDXFKVFKRQLP*UDEÄ*HEHQ6LHPLULUJHQGHLQHQNRPSHWHQWHQ 0LWDUEHLWHU³VDJWH.DPHHOHLFKWJHUHL]WÄ,FKYHUELQGH6LHPLW0LVWHU$UPVWURQJ³JDEGHU 5RERWEHNDQQW(UVFKDOWHWHGXUFKÄ*XWHQ7DJ³VDJWHHLQHIUHXQGOLFKH0lQQHUVWLPPHÄ:LH NDQQLFK,KQHQKHOIHQ"³.DPHHZDUIDVVXQJVORV$XIGHP%LOGVFKLUPZDUHLQ0DQQ DXIJHWDXFKWNQDSSGUHLLJ-DKUHDOWGXQNHOKDDULJVRQQHQJHEUlXQWVHKUUHJHOPlLJHZHLH =lKQH(UWUXJHLQHQVHKUNRQVHUYDWLYHQ$Q]XJÄ.RQQWHGLHVHHOHQGH0DVFKLQHQLFKWJOHLFK GXUFKVFKDOWHQ"³IUDJWH.DPHHLQVWLQNWLY$UPVWURQJOlFKHOWHÄ(LQNOHLQHU7ULFN³JDEHU]X Ä'LHPHLVWHQ.XQGHQUHFKQHQGDPLWGDVVDXFKGHUGULWWH,QKDEHUEHUHLWVXQWHUGHU(UGHOLHJW XQGVLQGGDQQHLQZHQLJYHUEOIIWZHQQGXUFKJHVWHOOWZLUG'DVJLEWPLUHLQSDDU $XJHQEOLFNH=HLWGHQQHXHQ.XQGHQ]XEHVFKQXSSHUQ:DVNDQQLFKIU6LHWXQ"³ ,FK ELQ .DPHH 1\VVHQ VDJWH GLH MXQJH )UDX 6LH ZHGHOWH PLW GHP %ULHI YRU GHU $XIQDKPHRSWLN 6LH KDEHQ PLU GLHVH REVNXUH (LQODGXQJ JHVFKLFNW"³,FK HULQQHUH PLFK VDJWH $UPVWURQJ -D GHU %ULHI VWDPPW YRQ XQV .DQQ LFK (LQ]HOKHLWHQ HUIDKUHQ" IUDJWH .DPHH Ä:DV VROO GDV DOOHV" ,FK KDEH :LFKWLJHUHV ]X WXQ DOV PLFK ]X DEVRQGHUOLFKHQ =XVDPPHQNQIWHQ HLQODGHQ ]X ODVVHQ ,FK ELQ QLFKW EHIXJW GDUEHU $XVNQIWH ]X JHEHQ 0LVV 1\VVHQ VDJWH GHU 1RWDU .DPHH VDK GDVV VHLQH 5HFKWH LQ HLQHP 6WDSHO +DQGDNWHQ VXFKWHYHUPXWOLFKGDV'RVVLHUPLWGHP%ULHI'DQQNRPPHLFKQLFKWVDJWH.DPHH:DV ZHLLFKZDV6LHIU$EVLFKWHQKDEHQXQGDQZDVIUHLQHQ2UW6LHPLFKORFNHQZROOHQ 6LH N|QQHQ JDQ] EHUXKLJW VHLQ NRQWHUWH $UPVWURQJ WURFNHQ 0HLQH $EVLFKWHQ LQ GLHVHP )DOOVLQGHLQGHXWLJLFKZLOOGLH*HEKUHQYHUGLHQHQGLHLQGLHVHP)DOO]XYHUGLHQHQVLQG,P EULJHQ NDQQ LFK ,KQHQ DQGHXWHQ GDVV 6LH QLFKW GLH HLQ]LJH 3HUVRQ VLQG GLH HLQH VROFKH (LQODGXQJHUKDOWHQKDW6LHPDFKHQHVDEHUVHKUVSDQQHQG0LVWHU 3DTXRU$UPVWURQJVWHOOWHVLFKGHU1RWDUYRU1DFK.DPHHV*HVFKPDFNVDKHUHLQZHQLJ]X JXWDXV,FKELWWH6LHPLU]XJODXEHQGDVVGLHVH*HKHLPQLVNUlPHUHLQLFKWDXIPHLQHP0LVW JHZDFKVHQLVW:RXQVHUH%URVVLQGZLVVHQ6LH"&RQVWLWXWLRQ$YHQXHVDJWH.DPHH(V VWHKWDXIGHP%ULHINRSI:HUGHQ6LHGLH$GUHVVHILQGHQ":HQQQLFKWQHKPHQ6LHHLQ7D[L ,KUH $XVODJHQ ZHUGHQ HUVWDWWHW .DPHH OLH LKQ JDU QLFKW HUVW DXVUHGHQ 6LH WUHQQWH GLH 9HUELQGXQJPLWHLQHP.QRSIGUXFN:DVGDFKWHVLFKGLHVHU6FKQ|VHOHLJHQWOLFK" (VZDUZDUPDQGLHVHP7DJ.DPHHKDWWHHLQOHLFKWHV6HLGHQKHPGDQJH]RJHQGDVLKUVHKU JXW VWDQG GD]X WUXJ VLH ZLH IDVW LPPHU +RVHQ 0RFKWH VLFK VHLW GHP (QGH GHV -DKUKXQGHUWV DXFK HLQLJHV JHlQGHUW KDEHQ HV ZDU GHQ 0RGHVFK|SIHUQ QLHPDOV ZLHGHU JHOXQJHQ GHQ )HKOHU DXV]XEJHOQ GHQ LKUH .ROOHJHQ GDPDOV YHUEURFKHQ KDWWHQ DOV VLH GLH +RVHQIU)UDXHQIUHLJDEHQ6ROOHQZLUDXIGLFKZDUWHQ"IUDJWH.KHHUDHLQH.RPPLOLWRQLQ DXV GHP JOHLFKHQ .XUVXV 1HEHQ LKU VD HLQ EDXPODQJHU 6SRUWVWXGHQW DXI GHP 5FNVLW] .KHHUDVDXJHQEOLFNOLFKH/LHEH,FKJODXEHQLFKWGDVVVLHPLFKHQWIKUHQXQGDQLUJHQGHLQHQ 6SULQJHUYHUVFKDFKHUQZROOHQVDJWH.DPHH$XHUGHPZHLLFKQLFKWZLHODQJHVLFKGLH
3UR]HGXUKLQ]LHKHQZLUG9LHOOHLFKWKDVWGXHLQHQ(UERQNHOHLQHQDOWHQ$UNRQLGHQGHUVHLW GHP ]HKQWHQ YRUFKULVWOLFKHQ -DKUWDXVHQG VHLQHQ 1RWVROL IU GLFK DXIEHZDKUW KDW 9LHOOHLFKW ELVWGXDXFKHLQ:HFKVHOEDOJXQGPDQKDWGLFKJHJHQHLQHZXQGHUVFK|QH3ULQ]HVVLQ 1RFKHLQH%HPHUNXQJLQGLHVHU$UWXQGLFKZHUGHPHLQH.HQQWQLVVHLP6WUDISUR]HVVUHFKW DXIEHVVHUQPVVHQVDJWH.DPHHOlFKHOQG0DFKWHXFKGDYRQ:LUWUHIIHQXQVVSl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lXVHUGHU6WUDVVHHLQHPNOHLQHQ.XQVWZHUNDXV*ODV6WDKOXQGEHPDOWHP %HWRQ 'DV 5HOLHIEDQG DXV %HWRQ GDV VLFK EHU GLH )OlFKH ]ZLVFKHQ GHP (UGJHVFKRVV XQG GHP HUVWHQ 6WRFNZHUN ]RJ ZDU HLQ VHKU EHNDQQWHV .XQVWZHUN GHU 1DPH GHV .QVWOHUV DOOHUGLQJVZROOWH.DPHHQLFKWHLQIDOOHQ $QHLQHPPLVVWUDXLVFKEOLFNHQGHQ3I|UWQHUYRUEHLEHWUDW.DPHHGDV,QQHUHGHV+DXVHV+LHU ZDUHVDQJHQHKPNKOGDIUVRUJWHQKRFKZHUWLJH.OLPDDQODJHQGLHYRQGHP3I|UWQHUURERW PLWGHPVWUHQJHQ*HVLFKWJHZDUWHWXQGEHDXIVLFKWLJWZXUGHQ (LQ $QWLJUDYOLIW EUDFKWH .DPHH KLQDXI LQ GDV REHUVWH 6WRFNZHUN 9RQ GRUW DXV KDWWH PDQ HLQHQ SUDFKWYROOHQ hEHUEOLFN EHU 7HUUDQLD .DPHH KDWWH HLQ ZHQLJ 0KH GHQ $QEOLFN ]X JHQLHHQLKUPDFKWHZLHLPPHUGLH+|KHQDQJVW]XVFKDIIHQ 9RU HLQHU JOlVHUQHQ 7U EOLHE GLH MXQJH )UDX VWHKHQ $UPVWURQJ $UPVWURQJ $UPVWURQJ VWDQGDXIGHP*ODVJHVFKULHEHQLQGHPVHOEHQYHUVFKQ|UNHOWHQ6FKULIW]XJGHUDXFKDXIGHP %ULHISDSLHU SUDQJWH .DPHH ]RJ GDV VHOWVDPH 'RNXPHQW DXV GHU 7DVFKH GDQQ EHWlWLJWH VLH GHQ6XPPHU)DVWLPJOHLFKHQ$XJHQEOLFNJOLWWGLH7UODXWORV]XU6HLWHGDKLQWHUZXUGHGDV 9RU]LPPHUVLFKWEDUHLQ5DXPGHUPLWNDOWZLUNHQGHP*HUlWXQGHLQHUHEHQIDOOVUHFKWIURVWLJ DXVVHKHQGHQ6HNUHWlULQDXVJHIOOWZDU,FKZHUGHHUZDUWHWEHKDXSWHWH.DPHHXQGKLHOW GHU)UDXGHQ%ULHIXQWHUGLHKRKHLWVYROOJHUPSIWH1DVH*HKHQ6LHELWWHGXUFKVDJWHGLH 6HNUHWlULQ0LWHLQHP.QRSIGUXFNOLHVLHGLH7U]XU6HLWHIDKUHQ'DKLQWHUZXUGHHLQ ZHLWHUHU5DXPVLFKWEDUHQWVFKLHGHQJHPWOLFKHUDXVJHVWDWWHWXQGZLH.DPHHQLFKWDQGHUV HUZDUWHWKDWWHGRUWZDUGHUGULWWH$UPVWURQJ]XILQGHQ(UVWDQGDXVHLQHPWLHIHQ/HGHUVHVVHO DXIXQGJLQJPLWDXVJHVWUHFNWHU+DQGDXI.DPHH]X,FKIUHXHPLFK6LH]XVHKHQVDJWH $UPVWURQJÄ1HKPHQ6LH3ODW]³:RVLQGGLHDQGHUHQ"IUDJWH.DPHH6LHVHW]WHVLFKLQ HLQHQ/HGHUVHVVHO'LH)LUPD$UPVWURQJPDOGUHLKDWWHVLFKJDQ]RIIHQNXQGLJDQ]DKOUHLFKHQ 7ULYLG)LOPHQDXVGHU=HLWGHV6KHUORFN+ROPHVRULHQWLHUW'DV0RELOLDUEHVWDQGDXV ZHUWYROOHP0DKDJRQLGLH6HVVHOGD]XGXQNHOXQGOHGHUQSDVVWHQKHUYRUUDJHQGGHVJOHLFKHQ GHU7HSSLFK'LH*HPlOGHDQGHQ:lQGHQZDUHQYRQYRUQHKPHU3DWLQDJU|WHQWHLOV HQJOLVFKH/DQGVFKDIWHQGDUVWHOOHQGDQJHIOOWPLW+XQGHQ)FKVHQXQGURWJHNOHLGHWHQ 5HLWHUQ,QHLQHP$VFKHQEHFKHUJORPPGXIWHQGHLQH3IHLIH.DPHHNRQQWHDQJHVLFKWVYRQ VRYLHOHGOHU3HUIHNWLRQQXUJULQVHQ6LHZHUGHQPLUGRFKVLFKHUHLQHQKXQGHUWMlKULJHQ HFKWHQ6FRWFKDQELHWHQZROOHQQLFKWZDKU"IUDJWHVLH,FKZUGHGHQ6KHUU\HPSIHKOHQ VDJWH$UPVWURQJOlFKHOQGÄ(ULVWZHQLJHUDOWHQWVFKLHGHQSUHLVZHUWHUXQGQLFKWJDQ] GXUFKVFKODJVNUlIWLJ6LHZHUGHQHLQHQNODUHQ.RSIEUDXFKHQ³:R]X"IUDJWH.DPHH6LH OHKQWHPLWHLQHP.RSIVFKWWHOQGHQ6KHUU\DE.DPHHWUDQNJUXQGVlW]OLFKNHLQHQ$ONRKRO EHLVROFKHQ*HOHJHQKHLWHQ$UPVWURQJYHU]LFKWHWHHEHQIDOOV6LHKDEHQQLFKWGLHOHLVHVWH $KQXQJZHVKDOEZLUVLHKLHUKHUJHEHWHQKDEHQ"³.DPHHVFKOXJGLH%HLQHEHUHLQDQGHU 1LFKWGLHJHULQJVWH³JDEVLH]X6LQG6LHGHU6RKQRGHUGHU(QNHO"
:HGHU QRFK VDJWH $UPVWURQJ Ä$QJHVWHOOWHU DEHU LFK KHLH ]XIlOOLJ ZLH GLH GUHL )LUPHQJUQGHU6LHKHLHQ.DPHH1\VVHQ" 0LW YROOHP 1DPHQ .DPHH $OH[DQGUD 7DULPRWR 1\VVHQ YHUULHW .DPHH Ä0DQ NDQQ HV LQ PHLQHQ3DSLHUHQQDFKVHKHQ0HLQH(OWHUQZDUHQVHKUNRVPRSROLWLVFKHLQJHVWHOOW Ä6LH KDEHQ ,KUH (OWHUQ QLH JHNDQQW"³ Ä(LQ ZHQLJ³ VDJWH .DPHH Ä$XIJHZDFKVHQ ELQ LFK LQ HLQHP:DLVHQKDXVHLQHPVHKUJXWHQZLHLFKEHPHUNHQP|FKWH,FKKDEHHVJXWJHKDEWGRUW $UPVWURQJOHKQWHVLFKLP6HVVHO]XUFNXQGQDKPGLH3IHLIHDXI0HHUVFKDXPVWHOOWH.DPHH IHVWXQG]ZDUHFKWHUGHULP-DKUHHEHQIDOOVHLQRUGHQWOLFKHV6WFN*HOGNRVWHWH Ä:HLWHUH9HUZDQGWVFKDIWH[LVWLHUWQLFKW".DPHHZDUIHLQHQEH]HLFKQHQGHQ%OLFNDXIGHQ(LQ ODGXQJVEULHI Ä%LV MHW]W QLFKW³ Ä6LH EUDXFKHQ NHLQH $QJVW ]X KDEHQ LFK KDEH NHLQH QHXH 6WLHIPXWWHU IU 6LH LQ SHWWR DXFK NHLQH (UEWDQWH³ Ä6FKDGH VDJWH .DPHH 0LW HLQHU (UEWDQWHKlWWHQVLFKYLHOHKEVFKH0|JOLFKNHLWHQDXIJHWDQ Ä+DEHQ6LHHLJHQWOLFK,KUHQ*URYDWHUJHNDQQW"³Ä:RKHUELWWHVFK|Q"IUDJWH.DPHH=ZDU LVWHVLQGHU*DOD[LVUXKLJJHZHVHQLQGHQOHW]WHQ-DKU]HKQWHQDEHULQGHQ-DKUHQGDYRULVWHV JDQ]VFK|QWXUEXOHQW]XJHJDQJHQXQGPHLQHHKUHQZHUWHQ9RUIDKUHQKDEHQLPPHUPLWWHQGULQ JHVWHFNW³ Ä'DV VFKHLQW LQ GHU )DPLOLH ]X OLHJHQ³ VDJWH $UPVWURQJ Ä6LH ZLVVHQ DOVR DXFK QLFKW YRQ ZHP 6LH HLJHQWOLFK DEVWDPPHQ"³ :HQQ 6LH VFKRQ VR IUDJHQ ZDKUVFKHLQOLFK YRP DOWHQ /RUGDGPLUDO $WODQ DXV HUVWHU (KH $UPVWURQJ YHUVFKOXFNWH IDVW VHLQH 3IHLIH EHL GHP YHUJHEOLFKHQ 9HUVXFK GHQ /DFKDQIDOO ]X XQWHUGUFNHQ 6HKU JXW NLFKHUWH HU Ä'DV ZHUGHLFKLKPHU]lKOHQZHQQLFKLKQGDVQlFKVWH0DOVHKH³6LHNHQQHQ$WODQ" $UPVWURQJZXUGHZLHGHUUXKLJÄ,FKNHQQHLKQREHUPLFKRKQHIRWRJUDILVFKHV*HGlFKWQLV ZLHGHUHUNHQQHQZUGHVWHKWDXIHLQHPDQGHUHQ%ODWW1HLQ6LHVWDPPHQQLFKWYRQ$WODQDE $EHU6LHKDEHQGHQQRFKHLQHQUHFKWSURPLQHQWHQ*URYDWHUHVZDU5RG1\VVHQ³ .DPHH]XFNWHPLWGHQ6FKXOWHUQ1LHJHK|UWVDJWHVLHOHLFKWKLQÄ+lWWHLFKLKQNHQQHQ VROOHQ"³$UPVWURQJV%OLFNVFKLHQGXUFKVLHKLQGXUFK]XJHKHQ/HLVHVDJWHHU'DVZHQLJH ZDVLFKEHU5RG1\VVHQZHLVDJWPLUGDVV6LHYLHOOHLFKWVHKUVWRO]JHZHVHQZlUHQGLHVHQ 0DQQ]XNHQQHQ³.DPHH]RJGLH%UDXHQLQGLH+|KH$FKZLUNOLFK"IUDJWHVLH $UPVWURQJVWDQGDXI0LWHLQHUIUHXQGOLFKHQ+DQGEHZHJXQJIRUGHUWHHUDXFK.DPHHDXIVLFK ]XHUKHEHQ'HU1RWDUIKUWH.DPHHLQHLQHQEHQDFKEDUWHQ5DXP'RUWVDHQ]ZHLMXQJH 0lQQHUXQJHIlKULQ.DPHHV$OWHUÄ,FKGDUI6LHPLWHLQDQGHUEHNDQQWPDFKHQGLHVLVW0LVV 1\VVHQGHU+HUUGRUWKHLW
,FKELQJHVSDQQWZDVVLHVDJHQZHUGHQPXUPHOWHGHUKRFKJHZDFKVHQH0DQQGHUQLFKW VHOWHQPLW3HUU\5KRGDQYHUZHFKVHOWZXUGH2EVLH]XVWLPPHQZHUGHQ"³&RQUDG 'HULQJKRXVH]XFNWHPLWGHQ6FKXOWHUQGHVJOHLFKHQ5RG1\VVHQ'LHGUHL0lQQHUEHUHLWHWHQ HLQHGHUVHOWVDPVWHQ9HUVDPPOXQJHQYRUGLHHVLQGHU*HVFKLFKWHGHU0HQVFKKHLWMHPDOV JHJHEHQKDWWH6LQGDOOHJHNRPPHQ"IUDJWH)UH\W6RODUPDUVFKDOOXQG6WHOOYHUWUHWHU 5KRGDQV1\VVHQEHUIORJGLH/LVWH6LHXPIDVVWHLQVJHVDPW1DPHQ0lQQHUXQG)UDXHQ +LQWHUMHGHPa1DPHQVWDQGHLQ'DWXP6LHVLQGDOOHHUVFKLHQHQVDJWHHU'DV7KHPDLVW VFKOLHOLFKKHLNHOJHQXJ³)UH\WZLVFKWHVLFKPLWGHU+DQGEHUGLH$XJHQ'LH%HODVWXQJGHU OHW]WHQXQGGHU]XNQIWLJHQ7DJHXQG6WXQGHQZDUJU|HUDOVDOOHVZDVHUELVKHU]XHUWUDJHQ JHKDEWKDWWH*HKHQZLUVDJWHHU'LHGUHL0lQQHUYHUOLHHQGHQ5DXP5RG1\VVHQVRUJWH GDIUGDVVGLH/LVWHPLWGHQ1DPHQQLFKWOLHJHQEOLHE$XIGHU/LVWHVWDQGDXFKVHLQ1DPH (VZDUHLQNOHLQHU6DDOLQGHU$GPLQLVWUDWLRQ1RUPDOHUZHLVHZXUGHHUIU%HWULHEVUDWV VLW]XQJHQXQGlKQOLFKH9HUDQVWDOWXQJHQYHUZHQGHW6WLPPHQJHZLUUNODQJDXIDOV)UH\WGHQ 5DXPEHWUDW-HGHVGHUHLQKXQGHUWQHXQXQGVLHE]LJ*HVLFKWHUZDU)UH\W]XJHZDQGW(UZDU 5KRGDQV6WHOOYHUWUHWHUZHQQVRZRKO5KRGDQDOVDXFK5HJLQDOG%XOOXQWHUZHJVZDUHQ,P $XJHQEOLFNZDUHQEHLGHLQGHU1lKHYRQ$WODQV+DXSWTXDUWLHU]XILQGHQLQ4XLQWR&HQWHU 'LHGUHL0lQQHUQDKPHQKLQWHUHLQHP7LVFKYRUGHP$XGLWRULXP3ODW])UH\WLQGHU0LWWH Ä0DFKHQZLUHVNXU]VDJWHGHU0DQQPLWGHQJUDXHQ$XJHQ6LHDOOHKDEHQGLH1DFKULFKW JHK|UW XQVHU )UHXQG YRQ :DQGHUHU KDW VLH VFKOLHOLFK ODXW JHQXJ LQ GLH *DOD[LV KLQDXVSRVDXQW 0XUPHOQ HUNODQJ -HGHU ZXVVWH ZHOFKH 1DFKULFKW JHPHLQW ZDU (6 GDV )LNWLYZHVHQ YRP .XQVWSODQHWHQ :DQGHUHU ZDU DXI GHU )OXFKW 'LH 9HUJHLVWLJXQJ HLQHV JDQ]HQ 9RONHV KDWWH YRU HLQHU XQEHNDQQWHQ *HIDKU IU GLH JHVDPWH *DOD[LV 5HLVVDXV JHQRPPHQ GDV JDOW EHL HLQHP VROFKHQ :HVHQGHVVHQ0DFKWIOOHEHLHLQLJHQ%HREDFKWHUQ *HGDQNHQDQ$OOPDFKWDXVO|VWHEHVRQGHUVYLHO:HQQ(6IORKZHUVROOWHQRFKZLGHUVWHKHQ N|QQHQ",QGHVVHQEUDQQWHGHQ0lQQHUQXQG)UDXHQHLQHDQGHUH6RUJHDXIGHQ1lJHOQ 9RQ XQV LVW MHGHU LQ JDQ] EHVRQGHUHU :HLVH YRQ GLHVHU %RWVFKDIW GHV )LNWLYZHVHQV EHWURIIHQ VDJWH )UH\W Ä(V ZLUG LQ =XNXQIW NHLQH =HOOGXVFKH PHKU IU GLH 0LWDUEHLWHU YRQ 3HUU\5KRGDQJHEHQ6WDWWGHVVHQZXUGHQYRQ(6IQIXQG]ZDQ]LJVRJHQDQQWH=HOODNWLYDWRUHQ DXVJHVWUHXW :RKOJHPHUNW VLH ZXUGHQ DXVJHVWUHXW QLFKW HWZD GHP &KHI ]XU 9HUIJXQJ JHVWHOOW,FKEUDXFKHZRKONHLQHPKLHU]XHUNOlUHQZDVHV]XEHGHXWHQKDWGLHVH$NWLYDWRUHQ DXFK QXU DXIVSUHQ ]X ZROOHQ³ )UH\W KLHOW LQQH (LQ $UP ZDU LQ GLH +|KH JHUHFNW ZRUGHQ )UH\WQLFNWH (LQH )UDX PLWWOHUHQ $OWHUV VWDQG DXI )UH\W NDQQWH VLH HLQH GHU KHUYRUUDJHQGVWHQ 0LNURELRORJLQQHQHLQH0LWDUEHLWHULQGHVEHUKPWHQ5RERWZLVVHQVFKDIWOHUV9DQ0RGHUV :DUXP IHKOHQ LQ GLHVHU 9HUVDPPOXQJ ZLFKWLJH /HXWH" %XOO\ $GDPV XQG HWOLFKH DQGHUH 8QVWHUEOLFKH"'DVNDQQLFK,KQHQVDJHQDQWZRUWHWH)UH\W(UQDKPGLH/LVWHDXVGHU+DQG YRQ 5RG 1\VVHQ HQWJHJHQ ,FK KDEH HLQH XQDEKlQJLJH ,QVWDQ]³ :HQ"³ 1DWKDQ GLH 0DPPXWSRVLWURQLNDXIGHP0RQG%HUXKLJW"9RUOlXILJIDKUHQ6LHIRUW³ ÄLFK KDEH 1DWKDQ XP GLHVH /LVWH JHEHWHQ 'LH $XIJDEH GLH LFK GHU 3RVLWURQLN GDPLW JHVWHOOWKDEHZDUJUl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
(V ZUGH NHLQH =HOOGXVFKH PHKU JHEHQ (6 KDWWH :DQGHUHU ]HUVW|UW HLQ DXVJHJOKWHU .OXPSHQ WULHE GLH :HOW GHU :XQGHU QXQ GXUFK GLH 6FKZlU]H GHU (ZLJNHLW (V JDE NHLQ 3K\VLRWURQPHKUMHQHVJHKHLPQLVYROOH*HUlWGDVlKQOLFKDUEHLWHWHZLHHLQ7UDQVPLWWHUXQGLQ HLQHP XQHUK|UW NRPSOL]LHUWHQ 9RUJDQJ GDIU VRUJWH GDVV HLQ GHU =HOOGXVFKH XQWHU]RJHQHV /HEHZHVHQIU]ZHLXQGVHFK]LJ-DKUHNHLQHQ$OWHUXQJVSUR]HVV]XEHIUFKWHQKDWWH :DV GLH 9HUQLFKWXQJ :DQGHUHUV IU MHGHQ YRQ XQV EHGHXWHW EUDXFKH LFK QLHPDQGHP ]X HUNOlUHQ(LQHVDEHUVFKHLQWPLUEHLYLHOHQLQ9HUJHVVHQKHLWJHUDWHQ]XVHLQ(VLVWQLFKWVR GDVV QDFK $EODXI GHU )ULVW YRQ ]ZHLXQGVHFK]LJ -DKUHQ GHU $OWHUXQJVSUR]HVV YRQ QHXHP EHJLQQW XQG HLQHQ QRUPDOHQ 9HUODXI QLPPW (U WULWW QDFK hEHUVFKUHLWHQ GHU )ULVW LQ VHKU NXU]HU=HLWUDSLGHHLQXQGIKUWELQQHQZHQLJHU7DJH]XP7RG ,UJHQGMHPDQGZDUIGDVVFKUHFNOLFKH6WLFKZRUWLQGLH5XQGH9LHOOHLFKW )UH\WVFKWWHOWHVRIRUWGHQ.RSI 1HLQ³ VDJWH HU KDUW 1LFKW YLHOOHLFKW ,FK ZHUGH EHLP &KHI QLFKW EHWWHOQ LFK ZHUGH QLFKW YHUVXFKHQ LUJHQGHLQHP DXV GLHVHU 5XQGH NODU]XPDFKHQ GDVV PHLQ /HEHQ ZHUWYROOHU LVW DOV VHLQHV³)UH\WKREHWZDVVHLQH6WLPPHVLHZXUGHOHLGHQVFKDIWOLFKGUlQJHQG,FKKRIIHGDVV LFK PLFK GHU =HOOGXVFKH IUKHUHU -DKU]HKQWH GDGXUFK ZUGLJ HUZLHVHQ KDEH GDVV LFK PLFK EHPKW KDEH PHLQH ,QWHUHVVHQ KLQWHU GHQHQ GHU $OOJHPHLQKHLW ]XUFNVWHKHQ ]X ODVVHQ ,FK KRIIH GDVV LFK ELVKHU JHQJHQG )RUPDW KDWWH XP GHU =HOOGXVFKH ZUGLJ ]X VHLQ XQG LFK P|FKWHGLHVHV)RUPDWDXFKEHZHLVHQZHQQHVNHLQH=HOOGXVFKHPHKUJLEW)UPLFKKDWVLFK GHU+DQGHOPLWGHP7RGJHORKQW³ 1XU 1\VVHQ XQG 'HULQJKRXVH GLH XQPLWWHOEDU QHEHQ LKP VDHQ EHNDPHQ GDV JHKDXFKWH IDVWPLW,QHLQHUGHUYRUGHUVWHQ5HLKHQVWDQG9DQ0RGHUVDXI1LFKW]XOHW]WLKPKDWWHHV GDV 9HUHLQLJWH ,PSHULXP ]X YHUGDQNHQ GDVV HV GHQ YHUKHHUHQGHQ $QJULII GHU ELRORJLVFK SRVLWURQLVFKHQ 5RERWHU EHUOHEW KDWWH (V ZDU JUDXVDPH ,URQLH HV ZDU HLQ 7HDP XQWHU GHU /HLWXQJ GHV JHQLDOHQ 9DQ 0RGHUV JHZHVHQ GDV GLH 3ODQXQJ XQG $XVIKUXQJ GHV 5HFKHQJHKLUQV DXI GHP 0RQG EHUZDFKW KDWWH XQG QXQ ZDU HV DXVJHUHFKQHW 9DQ 0RGHUV *HVFK|SI1DWKDQGDVLKPGDV7RGHVXUWHLOVSUDFK ,FKKDEHYHUVWDQGHQZDV6LHVDJHQZROOWHQHUNOlUWH9DQ0RGHUV+DEHQ6LHHLQHQ3ODQ LUJHQGHLQHQ9RUVFKODJZDVZLUQXQWXQVROOHQ" )UH\WQLFNWH ,FKKDEHHLQHQ3ODQXQGHUJHKWYRQHLQHUhEHUOHJXQJDXVGLHZDKUVFKHLQOLFKMHGHUYRQ XQVVFKRQHLQPDODQJHVWHOOWKDW,FKKDEHPLULQGHQYLHOHQGXUFKGLH=HOOGXVFKHYHUPHKUWHQ -DKUHQ PHLQHV ELVKHULJHQ /HEHQV VHKU YLHO YRUJHQRPPHQ XQG LFK KDEH YLHOHV YRQ GLHVHQ 9RUKDEHQYHUVFKREHQDXIVSlWHU(VVDKMDVRDXVDOVZUGHHVHLQVHKUODQJHV6SlWHUIUXQV JHEHQ :LU ZLVVHQ MHW]W GDVV GHP QLFKW VR LVW DOVR P|FKWH LFK LQ GHQ PLU YHUEOHLEHQGHQ 0RQDWHQQRFKHLQSDDUYRQGHQ'LQJHQHUOHGLJHQGLHLFKPLUYRUJHQRPPHQKDEH(VZDU VHKUVWLOOJHZRUGHQLQGHU9HUVDPPOXQJ-HGHUGHU$QZHVHQGHQNRQQWHVLFKJHQDXYRUVWHOOHQ ZDV )UH\W HPSIDQG VLH KDWWHQ MHGHU IU VLFK YLHOHV YRU VLFK KHU JHVFKREHQ IU GLHVHV 6SlWHU ,FK ZROOWH LPPHU VFKRQ HLQPDO JDQ] IUHL XQG XQJH]ZXQJHQ LP :HOWUDXP KHUXPUHLVHQ VDJWH )UH\W 6HLQH 6WLPPH ZDU OHLVHU JHZRUGHQ DEHU VLH ZXUGH GHQQRFK DXFK LP KLQWHUVWHQ :LQNHO GHV 6DDOHV YHUVWDQGHQ ,FK ZROOWH LUJHQGZDQQ HLQPDO DXI HLQHP IUHPGHQ 3ODQHWHQ VLHGHOQ 8QG LFK ZROOWH HLQHV 7DJHV LP :HOWUDXP EHJUDEHQ ZHUGHQ ,FK KDEH PLU YRUJHQRPPHQPLUGLHVH:XQVFKWUlXPH]XHUIOOHQ :LHGHQQ"aIUDJWHHLQHUDXVGHP6DDO8QGZREHUKDXSW" )UH\WEOLFNWHEHUGLH9HUVDPPOXQJKLQZHJ ,FKZHUGHHLQ6FKLIIFKDUWHUQJURJHQXJIUDOOHGLHGLHVHOHW]WH5HLVHPLWPDFKHQZROOHQ :LU ZHUGHQ VWDUWHQ XQG GLH (UGH YHUODVVHQ :LU ZHUGHQ RKQH IHVWHV =LHO LP 5DXP KHUXPUHLVHQXQGZHQQZLUHLQHQ3ODQHWHQQDFKXQVHUHP*HVFKPDFNJHIXQGHQKDEHQZHUGHQ ZLUGRUWVLHGHOQ ,QXQVHUHP=XVWDQG"$OV7RGJHZHLKWH"
'HP 7RG VLQG ZLU YHUIDOOHQ YRQ GHP 7DJ DQ DQ GHP ZLU JHERUHQ ZXUGHQ DQWZRUWHWH )UH\W'LH=HOOGXVFKHKDWQXUGLHVHQ7DJKLQDXVJH]|JHUW,FKKDEHQDFKPHLQHQ8QWHUODJHQ QRFKNQDSSVLHEHQ0RQDWH]XOHEHQXQGLFKKDEHNHLQH/XVWGLHVHOHW]WHQ0RQDWHPHLQHV /HEHQVIUPLFKXQGDQGHUH]XU4XDOZHUGHQ]XODVVHQ 1LFKWIUGHQ&KHIGHULQMHGHP$XJHQEOLFNZRHUPLFKVLHKWGDUDQGHQNHQPXVVGDVVHU +RPHU * $GDPV HLQHQ $NWLYDWRU JHJHEHQ KDW XQG PLU QLFKW 4XDOHQ ZLOO LFK DXFK PLU HUVSDUHQ ZHQQ LFK QLFKW PHKU PLW GHQHQ ]XVDPPHQWUHIIHQ P|FKWH GLH PHKU *OFN JHKDEW KDEHQ XQG LFK JODXEH HV ZLUG DXFK IU XQVHUH )UHXQGH HLQH 4XDO VHLQ ZHQQ VLH XQV HUEOLFNHQXQGDQLKUHQ=HOODNWLYDWRUGHQNHQ 6HKUHGHOJHGDFKWVSRWWHWHHLQH6WLPPHDXVGHP+LQWHUJUXQG )UH\WOl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lW]OLFKELQLFKPLWGHP3ODQHLQYHUVWDQGHQVDJWHHUUXKLJ,FKJHEHDEHUHLQHV]X EHGHQNHQ'HU&KHIKDWXQVGLH=HOOGXVFKHQLFKW]XNRPPHQODVVHQZHLOHUXQVHUH1DVHQVR VFK|QIDQG(UKDWGLHVJHWDQZHLOHUXQVHUH$UEHLWIUGLH,QWHUHVVHQGHU$OOJHPHLQKHLWIU ZLFKWLJ JHKDOWHQ KDW ,FK IUDJH GUIHQ ZLU MHW]W LQ GLHVHU XQJHPHLQ NULWLVFKHQ /DJH IU GLH 7HUUDQHU XQG DOOH DQGHUHQ %HZRKQHU GHV EHNDQQWHQ 7HLOV GHU 0LOFKVWUDVVH GUIHQ ZLU MHW]W XQVHUH$UEHLWHLQIDFKKLQOHJHQXQGXQVVWLOOVFKZHLJHQGYHUGUFNHQ" )UH\WKROWHWLHI/XIW 'HU(LQZDQGWULIIWVDJWHHU,FKKDOWHGHPHQWJHJHQGDVV]ZDUMHGHUYRQXQVDQVHLQHP 3ODW]ZLFKWLJLVWDEHUNHLQHUXQHUVHW]OLFK(VZlUHVFKDGHXPGLH0HQVFKKHLWZHQQVLHXQVHU 9HUVFKZLQGHQQLFKWEHUOHEHQZUGH :LUKDEHQ9HUZDQGWH)UDXHQ.LQGHU 1HKPWVLHPLWQHKPW$EVFKLHGYRQLKQHQ(VEOHLEWHXFKEHUODVVHQ,FKP|FKWHMHW]WHLQH $EVWLPPXQJKHUEHLIKUHQ,FKVFKODJHYRUGDVVZLUGDV6FKLIIVWDUWHQODVVHQEHYRUGHU&KHI YRQ4XLQWR&HQWHU]XUFNNRPPW³ 'DVZLUGLQHLQSDDU7DJHQGHU)DOOVHLQULHIMHPDQG ,FKZHLVDJWH)UH\W:LHODQJHZROOWLKUGHQQ$EVFKLHGQHKPHQ" 'LH $EVWLPPXQJ ZDU VFKQHOO DEJHZLFNHOW 'LH EHUZlOWLJHQGH 0HKUKHLW VWLPPWH )UH\WV 9RUVFKODJ]X $OOH GLH PLWIOLHJHQ ZROOHQ N|QQHQ VLFK EHL PLU PHOGHQ VDJWH )UH\W DQVFKOLHHQG :LU VWDUWHQLQGUHL7DJHQ 'LH 9HUVDPPOXQJ ]HUVWUHXWH VLFK ODQJVDP ,Q NOHLQHQ *UXSSHQ RGHU HLQ]HOQ YHUOLHHQ GLH XQVWHUEOLFKHQ7RGJHZHLKWHQGHQ5DXPHLQLJHEOHLFKDQGHUHJHIDVVW6LHZXVVWHQVHLW7DJHQ ZDVLKQHQEHYRUVWDQGXQGEHLGHQPHLVWHQKDWWHGLHNDOWH9HUQXQIWOlQJVWGDVJOHLFKH8UWHLO JHIlOOWZLH1DWKDQ :DVLVWPLWGHP6FKLII"IUDJWH5RG1\VVHQ%HNRPPHQZLUHLQ6FKLII" 6HOEVWYHUVWlQGOLFK VDJWH )UH\W (U SDFNWH VHLQH 8QWHUODJHQ ]XVDPPHQ 'D]X UHLFKHQ PHLQH 9ROOPDFKWHQ 'DV ,PSHULXP ZLUG LQ GHQ QlFKVWHQ -DKUHQ PHKU YHUOLHUHQ DOV HLQHQ VFKQHOOHQ)UDFKWHU .HLQ6FKLIIGHU)ORWWH")UH\WOlFKHOWH ,FK P|FKWH QLFKW XQWHU .DQRQHQGRQQHU DEWUHWHQ VDJWH HU (U KROWH WLHI /XIW VDK VHLQH EHLGHQ *HIlKUWHQ DQ 'LHVH GUHL 0lQQHU ZDUHQ XQDEKlQJLJ YRQHLQDQGHU DXI GHQ JOHLFKHQ *HGDQNHQJHNRPPHQ6LHKDWWHQGLHVH9HUVDPPOXQJLQ6]HQHJHVHW]W6LHDOOHZDUHQVFKRQ
LQGHUHUVWHQ6WXQGHGHUPRGHUQHQ0HQVFKKHLWGDEHLJHZHVHQ6LHZDUHQ]XU'ULWWHQ0DFKW JHVWRHQNDXPGDVV3HUU\5KRGDQPLWGHQEHLGHQ$UNRQLGHQ&UHVWXQG7KRUDZLHGHUDXIGHU (UGH JHODQGHW ZDU ,Q XQPLWWHOEDUHU 1lKH GHV 9HUVDPPOXQJVVDDOHV VWDQG GDV 'HQNPDO GHU DOWHQ67$5'867DXIHLQHP6RFNHO (VKDWODQJHJHZlKUWVDJWH0LFKDHO)UH\W+DWHVVLFKJHORKQW" 5RG1\VVHQZLHJWHGHQ.RSI )UGLH8QVWHUEOLFKNHLWVROOWHQZLUJHQXJJHWDQKDEHQVDJWHHUQDFKGHQNOLFK )UH\WVDKVWDUUJHUDGHDXV ,FKKDEHHLQHKHLPOLFKH$QJVWVDJWHHUOHLVH6LHSHLQLJWPLFKVHLWLFKGLH%RWVFKDIWYRQ (6JHK|UWKDWWH,FKZXVVWHVRIRUWZDVLFK]XWXQKDWWHDEHUVHLWGLHVHP(QWVFKOXVVIUDJHLFK PLFK RE PDQ PLFK QLFKW HLQHV 7DJHV IU GLHVHQ (QWVFKOXVV DXVODFKHQ ZLUG 6RODUPDUVFKDOO )UH\WRSIHUWVLFKIU3HUU\5KRGDQXPLKPHLQHVFKZLHULJH(QWVFKHLGXQJDE]XQHKPHQ:LH NOLQJWGDV"1DFKSHUIHNWHP0HORGUDPQDFKNLWVFKLJHP3DWKRV(LQ(GHOUKUVWFN EHUGDV VLFKXQVHUH(QNHOZDKUVFKHLQOLFKWRWODFKHQZHUGHQ 5RG1\VVHQVFKWWHOWHKHIWLJGHQ.RSI *DQ]VLFKHUQLFKWVDJWHHU]XYHUVLFKWOLFK .DPHH1\VVHQVDKZLHGHU%LOGVFKLUPVLFKYHUGXQNHOWH'DV%DQGZDU]X(QGH ,FK EHNDP GLHVHV %DQG YRU HLQLJHQ 7DJHQ ]XJHVFKLFNW VDJWH 3HUU\ 5KRGDQ OHLVH 0LFKDHO)UH\WKDW HVDXIQHKPHQODVVHQDOV'RNXPHQWDWLRQGLHVHU(QWVFKHLGXQJ 6KDNWDU'HULQJKRXVHVDK5KRGDQPLWYHUVWHLQHUWHP*HVLFKWDQ :RZDUHQ6LHGDPDOV" ,KU*URYDWHUKDWHVJHVDJWLQ4XLQWR&HQWHU EHL$WODQ(VLVWJHUDXPH=HLWYHUVWULFKHQ GDPDOVELVLFKGLH(UGHZLHGHUVHKHQNRQQWH :DVDXV,KUHQ0LWDUEHLWHUQZXUGHZDU,KQHQJOHLFKJOWLJ".HLQ:RUWIUVLHNHLQ$QUXI NHLQ%HVXFK" 5KRGDQVDKGHQMXQJHQ0DQQDXIPHUNVDPDQ'HU0LWDUEHLWHUGHUYRQDOOHQDPHKHVWHQ HLQHQ$NWLYDWRUEUDXFKWHZHLOHUQXUQRFKZHQLJH7DJH]XOHEHQJHKDEWKlWWHZDU5HJLQDOG %XOO(UZDULQPHLQHU1lKH:DVGLHDQGHUHQ0LWJOLHGHUPHLQHV6WDEHVDQJLQJGLHHEHQIDOOV XQWHUGHP(QW]XJGHU=HOOGXVFKH]XOHLGHQKDWWHQVRKDEHLFKDXIGHUHQ.DOWEOWLJNHLWXQG 1HUYHQVWlUNHYHUWUDXWQLFKW]X8QUHFKWZLH6LHZRKOJHVHKHQKDEHQ2EHQGUHLQKDW,KU *URYDWHUPLWGHULKPHLJHQHQ8PVLFKWXQG6FKQHOOLJNHLWJHKDQGHOW$OVLFKYRQ4XLQWR &HQWHU]XUFNNHKUWHZDUGLH([SHGLWLRQGHU,&$EHUHLWVXQWHUZHJV &$"IUDJWH.DPHH,VWGDVHLQ1DPH"(LQH$ENU]XQJVDJWH
:LU KDEHQ NHLQH 6SXU PHKU YRQ LKQHQ JHIXQGHQ $OOHV ZDV LFK ZHL LVW GDVV VLHEHQXQGIQI]LJ)UDXHQXQG0lQQHUEHLPHLQHU5FNNHKUYHUVFKZXQGHQZDUHQ 8QGGHU5HVW" 6LH KDWWHQ HUVW YRU NXU]HU =HLW GLH =HOOGXVFKH EHNRPPHQ VLH KDWWHQ WHLOZHLVH QRFK -DKU]HKQWHYRUVLFK6LHVLQGJHEOLHEHQVLHZROOWHQDXIGHU(UGHVWHUEHQ 6LHEHQXQGIQI]LJPXUPHOWHa.DPHH8QG5RG1\VVHQZDUPHLQ*URYDWHU 6KDNWDU'HULQJKRXVHVDKGHQ1RWDUDQ :R]X GLHQW QXQ GLHVHU $XINOlUXQJVQDFKPLWWDJ" :DUXP ZHUGHQ ZLU HUVW MHW]W GDYRQ XQWHUULFKWHWXQGZR]XEHUKDXSW" 3HUU\ 5KRGDQ QLFNWH $UPVWURQJ ]X 'HU VFKDOWHWH GLH 5DXPEHOHXFKWXQJ ZLHGHU DXV 'HU %LOGVFKLUPZXUGHKHOO ,FK ZHUGH YHUDQODVVHQ VDJWH 0LFKDHO )UH\W XQG HU VDK GDEHL LQ GLH /LQVH GHU .DPHUD ª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lUHQGDQQVROOHQVLHGLHVH.RRUGLQDWHQDQIOLHJHQ6LH ZHUGHQGRUWHLQH5DXPERMHILQGHQXQGGLHVH%RMHZLUGZHLWHUH1DFKULFKWHQHQWKDOWHQ 0LFKDHO)UH\WV*HVLFKWZXUGHKlUWHU'HU6RODUPDUVFKDOOKDWWHVLFKWOLFK]XNl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lPWH VLH VLFK GDIU GDVVVLHQLFKWVEHU5RG1\VVHQJHZXVVWKDWWH ª$OVR"VDJWH
6LHZHUGHQGDVQLFKWEUDXFKHQ VDJWHHU(VKDWVLFKMHPDQGEHUHLWJHIXQGHQ,KUH ([SHGLWLRQ]XOHLWHQ ZHQQ6LHZROOHQ :HULVWGHU-HPDQG"IUDJWH.DPHH.HQQHQZLULKQ" ,FKKRIIHVDJWH5KRGDQVFKPXQ]HOQG(VLVW5HJLQDOG%XOO 'LHEHLGHQMXQJHQ0lQQHUJULQVWHQVLFKODXVEXEHQKDIWDQ 1XU]XVDJWH
.DPHHSDFNWHLKUH6DFKHQ]XVDPPHQ9LHOZDUHVQLFKWZDVVLHPLWQHKPHQZROOWH'LH /HKUEFKHUOLHVLHZLHVHOEVWYHUVWlQGOLFK]X+DXVHZHUDXIHLQHVROFKH)DKUWHLQ+DQGEXFK GHVgIIHQWOLFKHQ5HFKWVPLWQDKPNRQQWHQLFKWJDQ]ULFKWLJLP.RSIVHLQ6WDWWGHVVHQQDKP .DPHHHLQSDDUGLFNOHLELJH5RPDQHPLWGLHVLHVFKRQLPPHUKDWWHOHVHQZROOHQ 6HKU VRUJIlOWLJ DFKWHWH VLH GDUDXI GDVV GLH 6DFKHQ LQ GHQ 6WDXNlVWHQ RUGHQWOLFK XQWHUJHEUDFKWZXUGHQ'DV6FKLIIGDVPDQGHU([SHGLWLRQ]XU9HUIJXQJJHVWHOOWKDWWHEHVD HLQHSILIILJH(LQULFKWXQJMHGHP3DVVDJLHUZXUGHQGLHNRPSOHWWHQ(LQEDXVFKUlQNHYRU5HL VHDQWULWW]XJHVWHOOW(UNRQQWHGLH6FKUlQNHGDQQ]X+DXVHLQDOOHU5XKHIOOHQ6SlWHUZXUGHQ VLH YRQ HLQHP 5RERWNRPPDQGR DEJHKROW XQG LQ HLQHP 6WFN LQ GLH YRUJHVHKHQH .DELQH HLQJHSDVVW $XI GLHVH :HLVH NDPHQ GLH 5HLVHJlVWH XP HLQ ]ZHLPDOLJHV (LQSDFNHQ XQG $XVSDFNHQ KHUXP DXHUGHP OHUQWHQ VLH GDEHL JOHLFK GDV )DVVXQJVYHUP|JHQ LKUHU .DELQH NHQQHQ ,P )DOO YRQ .DPHH 1\VVHQ HUZLHVHQ VLFK GLH 6FKUlQNH DOV YLHO ]X JHUlXPLJ GHU -HPDQGGHUIUKHUGLHVH5lXPHEHQXW]WKDWWHVFKLHQHUKHEOLFKPHKU*DUGHUREH]XKDEHQDOV .DPHH2E5HJLQDOG%XOOGLHVHU-HPDQGZDU".DPHHNDQQWHGHQ6WHOOYHUWUHWHU5KRGDQVQXU YRQ )LOPHQ KHU XQG VLH NRQQWH VLFK EHLP EHVWHQ :LOOHQ GLHVHQ 0DQQ QLFKW DOV SXW]VFKWLJ HLWHOXQGPLWULHVLJHQ.OHLGHUVFKUlQNHQYRUVWHOOHQ .DPHH EUDXFKWH QRFK HLQH NQDSSH KDOEH 6WXQGH GDQQ ZDU VLH PLW GHP 3DFNHQ IHUWLJ 6LH VDKNXU]LKUH/LVWHGXUFK2UGHQWOLFKXQGJUQGOLFKZLHHVLKUH$UWZDUKDWWHVLHDOOHVZDV JHWDQZHUGHQPXVVWHDXIJHOLVWHWXQGQDFKHLQDQGHUHUOHGLJW 'LH 0LHWH IU GLH QlFKVWHQ ]ZHL 0RQDWH ZDU EHUHLWV EHUZLHVHQ $UPVWURQJ KDWWH GDV HUOHGLJW GHQQ .DPHHV ILQDQ]LHOOH 9HUKlOWQLVVH ZDUHQ QLFKW YRQ GHU $UW GLH ]ZHL 0RQDWVPLHWHQLPYRUDXV]XOLH'LH=HLWVFKULIWHQZDUHQDEEHVWHOOWXQGZXUGHQLQHLQHP3RVW IDFKIU.DPHHJHVDPPHOWGHVJOHLFKHQGLH.RQWRDXV]JH'LH)UHXQGHZDUHQDXVQDKPVORV LQIRUPLHUW'LH5HLVHNRQQWHDOVRORVJHKHQ .DPHHULHIGLHYHUHLQEDUWH1XPPHUDQ(LQH9LHUWHOVWXQGH VSlWHU ZDU
0RGHOOV GDV LQ GHU )ORWWH GHV 6RODUHQ ,PSHULXPV YHUZHQGHW ZXUGH 'DV KLH GDVV HV LP ,QQHUQ HLQ ZHQLJ NRPIRUWDEOHU ZDU DOV LP )ORWWHQPRGHOO GDIU ZDU GLH %HZDIIQXQJ QDWXUJHPl HQWVFKLHGHQ VFKZlFKHU DXVJHIDOOHQ PDQ VDK LP 6RODUHQ ,PSHULXP 3ULYDWOHXWH PLWVFKZHUHU%HZDIIQXQJQXUXQJHUQ 'LH 085* '2 3<$=$ VWDQG DXI YLHU 7HOHVNRSODQGHEHLQHQ ,P XQWHUHQ 7HLO LQ GHP YRU DOOHPHLQ6KLIWXQWHUJHEUDFKWZDUVWDQGGLHJURH/DGHVFKOHXVHRIIHQ )UH\W OLHVV GHQ *OHLWHU QHEHQ GHU 6FKOHXVH KDOWHQ :lKUHQG GLH 5RERWV VLFK GDUDQ PDFKWHQ .DPHHV *HSlFN ]X YHUVWDXHQ VFKZHEWHQ )UH\W XQG .DPHH GXUFK GHQ ]HQWUDOHQ $QWLJUDYVFKDFKWKLQDXILQGLH.XSSHOGHV5DXPVFKLIIV8QWHUKDOEGHU+DOENXJHODXV*ODVVLW ODJ GLH =HQWUDOH $XI GHP 6LW] GHV 3LORWHQ VD HLQ 0DQQ GHU VLFK KHUXPGUHKWH DOV HLQ *HUlXVFKGDV(LQWUHWHQGHUEHLGHQ%HVXFKHUDQNQGLJWH :LOONRPPHQDQ%RUGVDJWH5HJLQDOG%XOO
.DPHHZDU]XPHUVWHQ0DOLP:HLWUDXPXQGVLHHUOHEWHDXFK]XPHUVWHQ0DOGHQ6WDUWHLQHV 5DXPVFKLIIV)UHLQVROFKHV(UOHEQLVOLHVLFKNDXPHLQEHVVHUHV)DKU]HXJGHQNHQDOVHLQH 6SDFH-HW'LHNOHLQH.RQVWUXNWLRQZDUEHLZHLWHPQLFKWVRVWDUNJHJHQ0DVFKLQHQOl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
QLFKW GLH ]DKOUHLFKHQ 6RPPHUVSURVVHQ XQWHU GHQ ZDVVHUEODXHQ $XJHQ HQWIHUQHQ ODVVHQ REZRKO GDV PHGL]LQLVFK HLQH .OHLQLJNHLW JHZHVHQ ZlUH ,UJHQGZLH ZLUNWH GHU VWHWV ]X 6WUHLFKHQDXIJHOHJWH5HJLQDOG%XOO PHLVWHQV %XOO\ JHQDQQW LQ VHLQHP KRKHQ $PW ZLH HLQH )HKOEHVHW]XQJ YLHO ]X OHXWVHOLJ XQG XPJlQJOLFK JOHLFK]HLWLJ JHUDGHKHUDXV XQG LQ 0HLQXQJVIUDJHQ YRQ HUVFKUHFNHQGHU 'HXWOLFKNHLW 1XU .HQQHU GHU LQQHUJDODNWLVFKHQ 3ROLWLN ZXVVWHQ%XOO\V)lKLJNHLWHQ]XVFKlW]HQXQGHVKDWWHVHLQH*UQGHGDVV5HJLQDOG%XOOVHLQ $PWGXUFKSDUODPHQWDULVFKH6WUPHYLHOH-DKUHKLQGXUFKKDWWHEHKDXSWHQN|QQHQ 9RQGHU(UGHZDUMHW]WQLFKWVPHKU]XVHKHQDOVHLQ/LFKWSXQNWXQWHUYLHOHQGHU0RQGZDU PLWEORHP$XJHEHUHLWVQLFKWPHKUHUNHQQEDU5HJLQDOG%XOOSURJUDPPLHUWHGHQ$XWRSLORWHQ YRU=ZDUNRQQWHHUGLH6SDFH-HWQRWIDOOVIDVWLP6FKODIIOLHJHQDEHUHUJHK|UWHQLFKW]XGHQ /HXWHQGLHVLFKPHKU$UEHLWPDFKWHQDOVQDFKGHQ8PVWlQGHQXQYHUPHLGOLFKZDU ,Q HLQHU 6WXQGH N|QQHQ ZLU GDV /LQHDUPDQ|YHU VWDUWHQ VDJWH %XOO\ QDFKGHP HU GLH 3URJUDPPLHUXQJDEJHVFKORVVHQKDWWH%LVGDKLQKDEHQZLU=HLWXQVNHQQHQ]XOHUQHQ$OVR PHLQ1DPHLVW5HJLQDOG%XOOLFKELQ-DKUHDOWXQGPHLQH+REE\VVLQG 'LH 3DURGLH DXI HLQH VHKU YHUEUHLWHWH 8QWHUKDOWXQJVVHQGXQJ LQ GHU VLFK GLH .DQGLGDWHQ DXI GLHVH:HLVHYRU]XVWHOOHQSIOHJWHQZDUHUVWNODVVLJ%XOO\NDPQLFKWGD]XVHLQ6SUFKOHLQ]X (QGHDXI]XVDJHQ*HOlFKWHUXQWHUEUDFK,KQ .DPHH VWHOOWH VLFK NQDSS YRU GDQQ ZDU
:LH ZHLW VLQG ZLU MHW]W YRQ GHU (UGH HQWIHUQW" IUDJWH .DPHH VREDOG GDV %LOG GHU 6WHUQH ZLHGHUDXIGHPJURHQ3DQRUDPDVFKLUP]XVHKHQZDUhEHUGHU=HQWUDOHVFKLHQHQGLH6WHUQH GXUFKGLHWUDQVSDUHQWH.XSSHO(VZDUHQYLHOH7DXVHQGH (LQ SDDU ]HKQWDXVHQG /LFKWMDKUH VDJWH 5HJLQDOG %XOO DXWRPDWLVFK (U OLH DXV GHP )XQNJHUlW HLQHQ NXU]HQ .RGHUXI QDFK 7HUUDQLD DEVWUDKOHQ 3HUU\ 5KRGDQ VROOWH DXI GLHVH
:HLVHLQIRUPLHUWZHUGHQZRVLFKGLH085*'23<$=$]XU=HLWEHIDQG.HLQ*UXQG]XU $XIUHJXQJ LP (UQVWIDOO VLQG VROFKH (QWIHUQXQJHQ EHGHXWXQJVORV $XI WDXVHQG /LFKWMDKUH PHKURGHUZHQLJHUNRPPWHVGDQQQLFKWPHKUDQ (UQVWIDOO" :HQQZLUKDYDULHUHQVROOWHQHUNOlUWH%XOO\(UDNWLYLHUWHGHQ0DWHULHWDVWHUGHU6SDFH-HW 6FKRQ QDFK NXU]HU =HLW HUVFKLHQ DXI GHP HQWVSUHFKHQGHQ 6FKLUP HLQH $Q]HLJH (LQ .|USHU WULHELP5DXPDOOHUGLQJVHLQ.|USHUGHUHQWVFKLHGHQ]XJURZDUIUHLQH5DXPERMH%XOO\ OLH GLH 6SDFH-HW .XUV DXI GHQ .|USHU QHKPHQ (QWZHGHU JHOLQJW HV XQV GLH 0DVFKLQHQ ZLHGHU IORWW]XPDFKHQ XQG ]XUFN]XIOLHJHQ RGHU ZLU VHQGHQ HLQHQ )XQNVSUXFK DE .ODSSW EHLGHVQLFKWGDQQVLQGGLH/LFKWMDKUWDXVHQGHEHGHXWXQJVORV 6FK|QH$XVVLFKWHQVDJWH.DPHH :DVNDQQGDVVHLQ"IUDJWH6KDNWDU'HULQJKRXVH=XJURIUHLQH5DXPERMH .|QQWHHLQ$VWHURLGVHLQYHUPXWHWH%XOO\:LUZHUGHQMHGHQIDOOVKLQIOLHJHQXQGXQVGLH 6DFKHDQVHKHQ )UH\WEOLHEELV]XPOHW]WHQ$XJHQEOLFNEHLGHU6WHUEHQGHQ (V ZDU HLQ /LHEHVGLHQVW GHU lXHUVWH 1HUYHQVWlUNH HUIRUGHUWH GHQQ HV ZDU QLFKW VFK|Q DQ]XVHKHQ ZLH HLQ 0HQVFK ELQQHQ ZHQLJHU 6WXQGHQ UDSLGH DOWHUWH JHLVWLJ XQG N|USHUOLFK YHUILHOXQGGDQQVWDUE ,Q GLHVHP EHVRQGHUHQ )DOO KDWWH HV GDV 6FKLFNVDO JXW JHPHLQW (V ZDU HLQH $QJHK|ULJH GHV 0XWDQWHQNRUSV JHZHVHQ GLH JHVWRUEHQ ZDU 6LH ZDU NHLQH VHKU JXWH 7HOHSDWKLQ JHZHVHQ GHQQRFKZDULKUGLH=HOOGXVFKHEHZLOOLJWZRUGHQ $PJHVWULJHQ$EHQGZDUGLH)UDXQRFKMXQJXQGIU|KOLFKJHZHVHQ$OVVLHDQGLHVHP0RUJHQ HUZDFKWZDUKDWWHGDV/HEHQVLHHLQJHKROW(LQDOWHVJUDXHV *HVLFKWKDWWHDXV GHP6SLHJHO JHVHKHQ 'LH )UDX KDWWH HV QLFKW PHKU IHUWLJJHEUDFKW DXI]XVWHKHQ 6LH ZDU LP %HWW OLHJHQJHEOLHEHQ XQG LKUH WHOHSDWKLVFKHQ )lKLJNHLWHQ KDWWHQ YHUVDJW 6R KDWWH VLH JODXEHQ PVVHQZDV0LFKDHO)UH\WGHU6WHUEHQGHQJHVDJWKDWWHVLHKDWWHGLH*HGDQNHQGHV0DQQHV QLFKW]XOHVHQYHUPRFKWQLFKWGLHJUDXHQYROOH$QJVWGLHLPPHUZLHGHUQDFK)UH\WJHJULIIHQ KDWWH ,QGLHVHQZHQLJHQ6WXQGHQGLH0LFKDHO)UH\WDOOHLQPLWGHU6WHUEHQGHQYHUEUDFKWKDWWHZDU LKPNODUJHZRUGHQZHOFKHV6FKLFNVDOMHGHQDQ%RUGHUZDUWHWHHVZDUNHLQVFK|QHV(UOHEQLV )UH\W]RJGLH'HFNHEHUGHQ.|USHUXQGYHUOLHOHLVHGLH.DELQH1LHPDQGNPPHUWHVLFK XPLKQDOVHUVHKUODQJVDP]XU=HQWUDOHGHU,&$KLQDXVVFKZHEWH,P6HVVHOGHV3LORWHQVD &RQUDG 'HULQJKRXVH 'HULQJKRXVH KDWWH VHLQH .DUULHUH DOV 5DXPSLORW EHJRQQHQ LP 'LHQVW GHU LUGLVFKHQ 0lFKWH GLH VHLQHU]HLW QLFKW HUELWWHUWH )HLQGH 3HUU\ 5KRGDQV JHZHVHQ ZDUHQ 6HOWVDPGDVVHUVHLQ/HEHQLP5DXPEHHQGHQZUGH :LH ZDU HV" IUDJWH 'HULQJKRXVH RKQH VLFK XP]XGUHKHQ )UH\W OLHVV VLFK LQ GHQ EHQDFKEDUWHQ6HVVHOIDOOHQ (QWVHW]OLFKVDJWH)UH\W(VJLQJVHKUVFKQHOODEHUVFK|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lKOW 'HU GULWWH 3ODQHW VROO 6KDNRRWHH KHLHQ VRVDJWHGHU6SULQJHU'RUWVROOWHQ0HQVFKHQOHEHQZLH ZLUDEHUYRQDQGHUHU6SUDFKH 9HULUUWH.RORQLVWHQ"ZROOWH'HULQJKRXVHZLVVHQ)UH\WVFKWWHOWHGHQ.RSI $XVJHVFKORVVHQ VDJWH HU :LU NHQQHQ GHQ 9HUEOHLE MHGHV HLQ]HOQHQ .RORQLVWHQVFKLIIV
JDQ]JHQDXNHLQHVLVWXQVDXVGHU5HJLVWUDWXUHQWODXIHQ *HSULHVHQ VHL GLH 3HUIHNWLRQ LQ GHU 6RODUHQ $GPLQLVWUDWLRQ VSRWWHWH 1\VVHQ :HLW GX PHKUEHUGLHVH:HOW" )UH\W]|JHUWHHLQHQ$XJHQEOLFN 'HU6SULQJHUVDJWHXQGHUZDUVHKUEHWUXQNHQDOVHUHVVDJWHXQGLFKQLFKWPLQGHUHUVDJWH DOVR GLHVHU 3ODQHW KDW HLQHQ 1DPHQ (U ODXWHW 6KDNRRWHH XQG GDV KHLW :HOW GHU ,PPHUZlKUHQGHQ8PDUPXQJ 1\VVHQVDK)UH\WHQWJHLVWHUWDQ 'DVK|UWVLFKQLFKWQDFKHLQHU:HOWDQDXIGHUZLUXQVHUHQ/HEHQVDEHQGYHUEULQJHQVROOWHQ VDJWHHU(KHUQDFKHLQHU'HSHQGHQFHYRQ/HSVR )UH\WVFKWWHOWHGHQ.RSI/HSVRZDULKPZRKOEHNDQQWMHGHU%HZRKQHUGHU*DOD[LVVFKLHQ /HSVR ]X NHQQHQ MHQHQ 3ODQHWHQ GHU DOV JDODNWLVFKH +DXSWVWDGW GHV 9HUEUHFKHQV JHOWHQ NRQQWH:DVLPPHUVLFKDQ9HUEUHFKHQ/DVWHUQ$XVVFKZHLIXQJHQUXFKORVHQ9HUJQJXQJHQ XQG6FKl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|KQHQPVVHQ
.DONLJ ZHL JOlQ]WH GLH QDUELJH 2EHUIOlFKH LP /LFKW GHU 6FKHLQZHUIHU 'HU $VWHURLG KLQJ XQPLWWHOEDU YRU GHU JURHQ 6FKOHXVH GHU ,&$ HU GUHKWH VLFK VHKU ODQJVDP XP VHLQH /lQJVDFKVH 'LH 6FKOHXVH VWDQG RIIHQ 6HFKVXQGIQI]LJ 0HQVFKHQ VWDQGHQ LQ 5DXPDQ]JHQ DXI GHP %RGHQ GHU 6FKOHXVH =ZLVFKHQ LKQHQ VWDQG HLQ PDVVLYHU *ODVVLWEORFN 'LH 7RWH ZDU GDULQ HLQJHVFKZHLWZRUGHQDXIEHZDKUWIUGLH(ZLJNHLW6LHVROOWHDXIGHP$VWHURLGHQEHLJHVHW]W ZHUGHQ0LWLKPZUGHGHU/HLFKQDPGDV$OOGXUFKGULIWHQYLHOOHLFKWLUJHQGZDQQLUJHQGZR LP $WRPEUDQG HLQHU IHUQHQ 6RQQH YHUJHKHQ YLHOOHLFKW DEHU DXFK WUHLEHQ ELV VLFK GDV 6FKLFNVDOGHV8QLYHUVXPVHUIOOWKDWWH 0LFKDHO )UH\W VSUDFK HLQLJH ZHQLJH 6lW]H (V JDE QLFKW YLHO ]X VDJHQ :DV KlWWH JHVDJW ZHUGHQN|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lVVLJHUOHGLJW5RERWHUDXFKVHW]WHQGHQJOlVHUQHQ 6FKUHLQDEXQGYHUEDQGHQLKQPLWGHP)XQGDPHQW (LQHQ $XJHQEOLFN ODQJ QRFK VWDUUWH 0LFKDHO )UH\W DXI GHQ 6FKUHLQ 6HOWVDP GDVV GLH %HOHXFKWXQJYRQGHU,&$GHU7RWHQGHQ$QVFKHLQMXJHQGOLFKHU)ULVFKHYHUOLHK1LFKWVPHKU ZDU ]X VHKHQ YRQ GHQ )XUFKHQ XQG )DOWHQ GLH GHU PLW IXUFKWEDUHU 6FKQHOOH DEODXIHQGH $OWHUXQJVSUR]HVVKLQWHUODVVHQKDWWH
0LFKDHO)UH\WZDQGWHVLFKXP 6FKLFNWGLH%RMHKHUEHUVDJWHHULQGDVNOHLQH+HOPPLNURSKRQ $XVGHPJUHOOZHLHQ5HFKWHFNGHU6FKOHXVHQ|IIQXQJO|VWHVLFKHLQGXQNOHU.|USHU'LH%RMH ZDU XQJHIlKU PDQQVODQJ XQG HQWVSUHFKHQG GLFN 6LH HQWKLHOW HLQHQ (QHUJLHHU]HXJHU XQG HLQ NOHLQHV +RFKOHLVWXQJVIXQNJHUlW (V ZDU DXVJHPDFKW GDVV GHU 6HQGHU HUVW QDFK PHKU DOV VLHEHQ -DKU]HKQWHQ DUEHLWHQ VROOWH XQG DXFK GDQQ VROOWH VHLQ 5XI QXU EHU 1RUPDOIXQN DQPHEDUVHLQ'LH7RGJHZHLKWHQGHU,&$ZROOWHQNHLQH6FKQIIOHUXQG6HQVDWLRQVMlJHUDXI LKUH)lKUWHORFNHQ 'LH EHLGHQ 0lQQHU EHIHVWLJWHQ GLH %RMH LQ GHU 1lKH GHV 6FKUHLQV DXI GHP %RGHQ GHV $VWHURLGHQ (V ZDU QLFKW HLQIDFK GLH :HUN]HXJH LP 9DNXXP GHV :HOWUDXPV ]X KDQGKDEHQ 'LH +DQGVFKXKHGHV.DPSIDQ]XJVVROOWHQYRUDOOHPGLH$WHPOXIW]XUFNKDOWHQXQGGDVPDFKWH VLHDOOHVDQGHUHDOVJHVFKPHLGLJ5RG1\VVHQNQLHWHQLHGHUXPHLQH6FKUDXEHIHVWHUDQ]LHKHQ ]XN|QQHQ 9RUVLFKWULHI)UH\W 'HU:DUQUXINDP]XVSlW5RG1\VVHQULFKWHWHVLFKDXIXQGEHLGLHVHU%HZHJXQJIXKUHUPLW GHPOLQNHQ2EHUVFKHQNHODQHLQHPVSLW]HQ)HOVVWFNHQWODQJ 0LFKDHO)UH\W]|JHUWHNHLQHQ$XJHQEOLFN 5HWWXQJVHLQVDW]ULHIHULQGDV0LNURSKRQZlKUHQGHUQDFKYRUQHVWU]WH5RGV$Q]XJLVW XQGLFKW (U SDFNWH PLW EHLGHQ +lQGHQ ]X 'HU 6FKQLWW ZDU QLFKW VHKU WLHI DEHU HU UHLFKWH DXV :HL VWlXEWHGHU6DXHUVWRIIDXVGHUgIIQXQJXQGULHVHOWHDOVIHLQHU6FKQHHLQGHU1lKHKHUDE'LH /XIWZXUGHGXUFKGLHEOLW]DUWLJH'UXFNHQWODVWXQJVFKODJDUWLJELV]XP*HIULHUSXQNWDEJHNKOW XQGYHUZDQGHOWVLFKLQ6DXHUVWRIIVFKQHH )UH\WNUDOOWHEHLGH+lQGHLQGDVHODVWLVFKH0DWHULDO (OHQGH 8QJHVFKLFNOLFKNHLW VFKLPSIWH 1\VVHQ 'LH 6WLPPH NODQJ YHU]HUUW 2IIHQEDU ZDU ]LHPOLFKYLHO$WHPOXIWHQWZLFKHQ(LQVWZHLOHQNRQQWHVLHGXUFKQDFKVWU|PHQGHV*DVDXVGHQ )ODVFKHQHUVHW]WZHUGHQDEHUGLHVHV9HUIDKUHQZDU]HLWOLFKEHJUHQ]W 1\VVHQVW|KQWHVFKPHU]JHTXlOWDXI 'LH 6HOEVWUHWWXQJVDXWRPDWLN GHV $Q]XJV ZDU DNWLY JHZRUGHQ 6LH GUFNWH GHQ 6WRII GHV $Q]XJV REHUKDOE GHU XQGLFKWHQ 6WHOOH OXIWGLFKW ]XVDPPHQ GDEHL VFKQUWH VLH ]XP HLQHQ 1\VVHQV %HLQDP+IWJHOHQNVWDUNHLQ=XPDQGHUHQPDFKWHVLFKMHW]WGDV9DNXXPLQGHP OXIWOHHUHQ +RVHQEHLQ EHPHUNEDU 'HU LP %OXW JHO|VWH 6WLFNVWRII SHUOWH QXQ VHKU VFKQHOO DXI XQGYHUVWRSIWHGLH%OXWJHIlVVH )UH\W VWLH VLFK DE (U ]RJ 1\VVHQ KLQWHU VLFK KHU 'DV 6W|KQHQ HUVWDUE 5RG 1\VVHQ ZDU EHZXVVWORVJHZRUGHQ.HLQ:XQGHUHLQH(PEROLHZDUHLQH$QJHOHJHQKHLWGLHPLWK|OOLVFKHQ 6FKPHU]HQHLQKHUJLQJ $XVGHP6FKLIINDPHQ]ZHL*HVWDOWHQKHUDQJHVFKZHEW +HOIWPLUULHI)UH\W(ULVWRKQPlFKWLJ 6LHEUDXFKWHQYLHU0LQXWHQXPGHQ%HZXVVWORVHQLQGLHUHODWLYH6LFKHUKHLWGHU6FKOHXVH]X VFKDIIHQ 'LH 7RUH GHU 6FKOHXVH VFKORVVHQ VLFK VFKQHOO XQG HEHQVR UDVFK IOOWH VLFK GHU 6FKOHXVHQUDXPZLHGHUPLW/XIW)UH\WOLHGLH9HUVFKOVVHVHLQHV$Q]XJVDXIVFKQDSSHQ 5DVFKLQGLH0HGRVHNWLRQULHIHUGHQ5RERWHUQ]XÄ,VWGHU$U]WLQIRUPLHUW" (ULVWEHVWlWLJWH'HULQJKRXVH:DVLVWEHUKDXSWSDVVLHUW" ,P /DXIVFKULWW KDVWHWHQ GLH EHLGHQ 0lQQHU KLQWHU GHQ GDYRQHLOHQGHQ 5RERWHUQ KHU GLH GHQ 2KQPlFKWLJHQLQGLHPHGL]LQLVFKH6HNWLRQGHV6FKLIIHVWUDQVSRUWLHUWHQ $Q]XJDXIJHVFKOLW]WVWLH)UH\WKHUYRU(VLVWQLFKW]XJODXEHQGDVVXQVHUHLQHPVRHWZDV QRFKSDVVLHUHQNDQQ-HGHP.DGHWWHQZLUGHLQJHEOlXWDXIVROFKH.OHLQLJNHLWHQ]XDFKWHQ 'LH6WDWLRQZDUHUUHLFKW1RFKLPPHUVWDN5RG1\VVHQLQGHPGHIHNWHQ'UXFNDQ]XJ (UZDUQRFKODQJHQLFKWJHUHWWHW)UH\WZXVVWHGDV 'LH7UHQJOLWWHQDXWRPDWLVFK]XUFNGHU$U]WHUVFKLHQDXIGHU6FKZHOOH
'HU'UXFNEHKlOWHULVWIHUWLJVWLHHUKHUYRU:RLVWGHU(LQEUXFK" /LQNHU2EHUVFKHQNHOVWLH)UH\WKHUYRU 'HU EHZXVVWORVH 5RG 1\VVHQ ZXUGH LQ HLQHQ %HKlOWHU JHVFKREHQ QDFKGHP PDQ LKP GHQ 5DXPDQ]XJDXVJH]RJHQKDWWH (VNDPMHW]WGDUDXIDQGLH(PEROLHLPOLQNHQ%HLQXQWHU.RQWUROOH]XEHNRPPHQ:HQQGHU DXVJHSHUOWH 6WLFNVWRII YRP %OXW ZHLWHUEHI|UGHUW ZXUGH NRQQWH HU XQWHU 8PVWlQGHQ OHEHQVZLFKWLJH*HIlHYHUVWRSIHQ+HU]NUDQ]JHIlVVHRGHUGLH%OXW]XOHLWXQJHQ]XP+LUQ $PVLFKHUVWHQZlUHHVEHJDQQGHU$U]W 1HLQVDJWH)UH\WVRIRUW.HLQH$PSXWDWLRQ 'HU0HGL]LQHUHEHQIDOOVHLQ8QVWHUEOLFKHUDXI$EUXIVDK)UH\WYHUVW|UWDQ (UN|QQWHVWHUEHQVDJWHHUKHIWLJ ,FK ZHL VDJWH )UH\W ,FK NHQQH 5RG VHLW YLHOHQ -DKUHQ XQG LFK ZHL GDVV HU NHLQH $PSXWDWLRQHUODXEWKlWWH9HUVXFKHQ6LHLKQRKQHHLQH2SHUDWLRQ]XUHWWHQ 'DQQZLUGHUYLHO*OFNEUDXFKHQVDJWHGHU$U]WhEHUQHKPHQ6LHGLH9HUDQWZRUWXQJ" )UH\WODFKWHELWWHUDXI :HURGHUZDVVROOWHPLFK]XU5HFKHQVFKDIW]LHKHQVWLHHUJULPPLJKHUYRU7XQ6LHZDV LFK,KQHQEHIRKOHQKDEH(UZLUGHV,KQHQGDQNHQVREDOGHUDXIZDFKW 'HU0HGL]LQHUPDFKWHHLQILQVWHUHV*HVLFKW :HQQHUZLHGHUDXIZDFKWNQXUUWHHU8QGMHW]WJHKHQ6LH,FKKDEHKLHUJHQXJ]XWXQ 'LH EHLGHQ 0lQQHU YHUOLHHQ GLH 6WDWLRQ 'UDXHQ ZDUWHWHQ )UHXQGH GLH *HVLFKWHU VRUJHQYROO6HOWVDPGDVVVLHQRFKLQGHU/DJHZDUHQVLFKXPGDV/HEHQDQGHUHU]XVRUJHQ (VJHKW5RGQLFKWVHKUJXWVDJWH)UH\W(UQDKPYRQLUJHQGZHPHLQHEUHQQHQGH=LJDUHWWH DQXQGWDWHLQHQWLHIHQ=XJ'HU$U]WZROOWHLKPGDV%HLQDEQHKPHQ,FKKDEHHVLKP YHUERWHQ 8QGZDUXP" )UH\WOlFKHOWHKDUW ,FKZLOOHVLKPHUVSDUHQVLFKLQVHLQHQOHW]WHQ7DJHQXQG:RFKHQDOV.USSHO]XIKOHQ %HLQDPSXWLHUWHVLQGNHLQH.USSHO9HUHKUWHVWHUVDJWHHLQH)UDX 'DVZLVVHQ6LHXQGGDVZHLLFKXQGZHQQ5RGGHQHUVWHQ6FKRFNEHUZXQGHQKDWZUGH HUHVHEHQIDOOVHLQVHKHQ$EHUHUNlPHQLFKWPHKUVRZHLWHQWVSUHFKHQGXP]XGHQNHQ:LUG GDVDN]HSWLHUW" (VZXUGHNHLQH$EOHKQXQJK|UEDU+LQWHU)UH\WWDXFKWHGHU$U]WDXI:RUWORVJULIIHUQDFKGHU =LJDUHWWHGLH)UH\WLKPDQERW 'LFNVFKlGHO VDJWHGHU0HGL]LQHU$OOHEHLGH6LHKDEHQHVJHVFKDIIWHUZLUG GXUFKNRPPHQXQGHUZLUGVHLQ%HLQEHKDOWHQ )UH\WVDKDXIVHLQH8KU :LUKDEHQHLQH6WXQGHYHUORUHQVDJWHHUOHLVH%HHLOHQZLUXQV6KDNRRWHHZDUWHWDXI XQV
.HQQVWGXGLH)UDX" 5HJLQDOG%XOOVFKWWHOWHGHQ.RSIGDQQHQWVDQQHUVLFKGDVVGLHVH%HZHJXQJGXUFKGHQ 5DXPDQ]XJKLQGXUFKNDXP]XHUNHQQHQZDU 1HLQVDJWHHUODXW,FKKDEHQLFKWGDV*HGlFKWQLVXQVHUHV)UHXQGHV$WODQGHUQLHHWZDV YHUJLW,FKNDQQPLFKDQGLHVH)UDXQLFKWHULQQHUQ 6LHVWDQGHQ]XYLHUWDXIGHU2EHUIOlFKHGHVNOHLQHQ$VWHURLGHQ'LHYHUVWULFKHQHQ-DKU]HKQWH KDWWHQQLFKWVYHUlQGHUW1RFKLPPHUWULHEGDVNRVPLVFKH*UDEGXUFKGLH:HLWHGHV5DXPHV QRFKLPPHUODJLQGHQ*ODVVLWEORFNHLQJHJRVVHQGHU/HLFKQDPHLQHU)UDX Ä,FKPXVV]XJHEHQGDVVLFKJURH$QJVWKDWWHDOVLFKGHQ6FKUHLQVDKVDJWH.DPHHOHLVH ,FKGDFKWHHVZlUHPHLQ*URYDWHUGHUGDULQOLHJHQN|QQWH
6LH YHUVFKZLHJ GDVV VLH QRFK LPPHU JURH $QJVW KDWWH 'DV *HIKO YRP VFKQHOOHQ 7RG GXUFKH[SORVLYH'HNRPSUHVVLRQQXUGXUFKGLHGQQH+DXWGHV6FKXW]DQ]XJVJHWUHQQW]XVHLQ EHUHLWHWHLKUEHVWlQGLJHV8QEHKDJHQ6LHZDUDEHUIlKLJGLHVH$QJVW]XEHUZLQGHQ /DVVHQZLUGHQ/HLFKQDPKLHUOLHJHQ"IUDJWH6KDNWDU2GHUVROOHQZLUVLHPLWQHKPHQ]XU (UGH" /HLVHIUDJWH%XOO\ :HQQGXGLH:DKOKlWWHVW ,FKZUGHEOHLEHQVDJWH6KDNWDU'HULQJKRXVHVRIRUW 'DQQODVVHQZLUGLH'LQJHZLHVLHVLQGYHUVHW]WH%XOO\+HOIWPLUGLH%RMHDQ%RUG]X VFKDIIHQ'HQ)XQNWHLON|QQHQZLU]XUFNODVVHQZLUEUDXFKHQLKQQXUDE]XVFKDOWHQ (VNRVWHWHZHQLJ0KHGLH%RMH]X|IIQHQ,QGHP6WDXUDXPGHUGD]XGLHQWH(U]SUREHQXQG bKQOLFKHV DXI]XQHKPHQ ODJ QXU HLQ YHUVLHJHOWHV 'DWHQEDQG GDV %XOO\ DQ VLFK QDKP 0LW HLQHP+DQGJULIIVFKDOWHWHHUGDV)XQNJHUlWDXV )OLHJHQZLU]XUFNVFKOXJHUYRU .DPHH EHWlWLJWH GDV 5FNVWRVVDJJUHJDW GDV VLH UDVFK YRP %RGHQ GHV $VWHURLGHQ DEKHEHQ XQGGDYRQVFKZHEHQOLH (VZDUHLQHLJHQWPOLFKHV*HIKOLQGHUJUHQ]HQORVHQ6FKZlU]HXQG6WLOOH]XIOLHJHQ.DPHH IKOWHVLFKYHUVXFKWGDV)XQNJHUlWDE]XVFKDOWHQXQGLQGLHVHU(LQVDPNHLWPLWVLFKXQGLKUHQ *HIKOHQDOOHLQ]XVHLQ=ZHL6WXQGHQ$XIHQWKDOWLQGLHVHU8PJHEXQJNRQQWHQLKUVLFKHUOLFK KHOIHQ]XHLQLJHQ(LQVLFKWHQ]XNRPPHQ 'LH 6SDFH-HW WDXFKWH YRU LKUHQ $XJHQ DXI /DQJVDP GULIWHWH VLH GDUDXI ]X 'LH XQWHUH 6FKOHXVH VWDQG RIIHQ GXUFK VLH EHWUDWHQ GLH YLHU ZLHGHU GDV NOHLQH 6FKLII GDV RKQH HUNHQQEDUH %HZHJXQJ LP $OO KLQJ 'LH 6FKOHXVH ZXUGH JHVFKORVVHQ XQG EHOIWHW GDQQ NRQQWHQGLH5DXPDQ]JHLQGHQGDIUYRUJHVHKHQHQ)lFKHUQYHUVWDXWZHUGHQ
'LH8KUHQ]HLJWHQDQGDVVHVVSlWHU1DFKPLWWDJZDU'HU=HLWHQWVSUHFKHQGPDFKWHVLFKGLH NOHLQH %HVDW]XQJ DQ GLH $UEHLW 6KDNWDU 'HULQJKRXVH KDWWH .FKHQGLHQW .DPHH NPPHUWH VLFKXPLKUHSULYDWHQ$QJHOHJHQKHLWHQ%XOO\UHFKQHWHGHQ'DWHQVWUHLIHQLQKDQGIHVWH:HUWH XPXQG
'HU$XWRSLORWEUDXFKWHGLHJDQ]H1DFKWXPGDV6FKLIIELVDQGDVYRUDXVEHUHFKQHWH=LHO]X EULQJHQ $OV GLH YLHU 0HQVFKHQ DP QlFKVWHQ 0RUJHQ DXV GHQ %HWWHQ NURFKHQ KLQJ GLH 085*'23<$=$VFKHLQEDUEHZHJXQJVORVLP$OO.DPHHILHOVRIRUWGDV)HKOHQGHV$Q WULHEVJHUlXVFKHV DXI DOV VLH HUZDFKWH 6FKQHOO VWDQG VLH DXI ]RJ VLFK DQ GDQQ KDVWHWH VLH KLQDXILQGLH=HQWUDOH6LHZDUNHLQHVZHJVGLHHUVWH5HJLQDOG%XOOKDWWHHVVLFKEHUHLWVLP 6HVVHOGHV.RPPDQGDQWHQEHTXHPJHPDFKWXQGUKUWHLQHLQHU.DIIHHWDVVH *XWHQ0RUJHQVDJWHHUIUHXQGOLFK,FKKDEHVFKRQ.DIIHHDXIEUKHQODVVHQ 6LQGZLUDP=LHO"IUDJWH.DPHH6LHQDKPDXIGHPHUVWEHVWHQ6LW]3ODW]GHU]XILQGHQZDU XQGJULIIQDFKGHP%HFKHUGHQ%XOO\LKUUHLFKWH'LH6]HQHKDWWHHWZDV8QZLUNOLFKHVEHU GHQEHLGHQZ|OEWHVLFKGDV6FKZDU]GHV6WHUQHQKLPPHOVXQGVLHVDHQLQGHU=HQWUDOHHLQHV NOHLQHQ 5DXPVFKLIIV XQG JLQJHQ HLQHU YHUJOHLFKVZHLVH VR EDQDOHQ 7lWLJNHLW QDFK ZLH GHP 7ULQNHQYRQ.DIIHH 'LHV LVW GDV 6\VWHP VDJWH 5HJLQDOG %XOO $XI GHP 0DVVHWDVWHU NDQQVW GX (LQ]HOKHLWHQ HUNHQQHQ 'DV 6RQQHQV\VWHP EHVWDQG DXV HLQHU KHOOEODXHQ UHFKW KHLHQ 6RQQH XQG HLQHU 6FKDU YRQ VLHE]HKQ 3ODQHWHQ 'HU ZHLWDXV JU|WH 7HLO GLHVHU :HOWHQ ZDU QDFK LUGLVFKHQ 0DVWlEHQ XQEHZRKQEDU PDQ KDWWH GLH :DKO ]ZLVFKHQ GHQ (LVULHVHQ GHU lXHUHQ =RQH XQG GHQ *OXWK|OOHQLPLQQHUHQ%HUHLFK(VJDEDEHUDXFKHLQHQ3ODQHWHQGHULQMHQHUgNRVSKlUHODJ GLHYRQ0HQVFKHQEHYRU]XJWZXUGH $OVR GRFK VDJWH
9RUIDKUHQKlWWHQXQVKHUHLQJHOHJW :DVKlWWHGDVIUHLQHQ6LQQJHKDEW"IUDJWH%XOO\$XFK6KDNWDU'HULQJKRXVHHUVFKLHQDXI GHU %LOGIOlFKH 6FKZHLJHQG WUDQNHQ GLH YLHU GHQ 0RUJHQNDIIHH DQ HLQ )UKVWFN LP KHUN|PPOLFKHQ 6LQQ GDFKWH QLHPDQG QLFKW HLQPDO .DPHH GLH EHL VLFK ]X +DXVH I|UPOLFKH )UKVWFNVULWXDOH]X]HOHEULHUHQSIOHJWH 6HKHQZLUXQVGHQ3ODQHWHQDQ" 1DWUOLFKVDJWH5HJLQDOG%XOO (U KDWWH EHUHLWV HLQHQ NQDSSHQ )XQNVSUXFK YRUEHUHLWHW PLW GHP GLH $GPLQLVWUDWLRQ EHU %XOO\V9HUEOHLEXQWHUULFKWHWZXUGH*OHLFK]HLWLJHUIXKU5HJLQDOG%XOOGLHOHW]WHQ1DFKULFKWHQ DXVGHP,PSHULXPY|OOLJDXVGHU5HLFKZHLWHVHLQHV%URVNDP%XOO\QLH 1HUY|V" 6HKU VDJWH GLH MXQJH )UDX ,FK KDEH QRFK QLH HWZDV bKQOLFKHV HUOHEW 'LHV LVW GHU HUVWH IUHPGH 3ODQHa GHQ LFK DQIOLHJH XQG HV LVW QRFK QLFKW HLQPDO HLQH MHQHU VDWWVDP EHNDQQWHQ 7RXULVWHQZHOWHQ 'RUW XQWHQ NDQQ HV QLFKW ZVWHU ]XJHKHQ DOV LQ PDQFKHQ 8UODXEV]HQWUDOHQ VDJWH %XOO\ VS|WWLVFK (UEHUQDKPGLH6WHXHUXQJGHU085*'23<$=$'DV6FKLIIZDULQGHU8PODXIEDKQGHV VLHEWHQ3ODQHWHQDXVGHP/LQHDUUDXPDXVJHWUHWHQELV]XP=LHOSODQHWHQZDUGDKHUNHLQZHLWHU :HJPHKU]XUFN]XOHJHQ 6RUJIlOWLJDFKWHWH.DPHHDXIGLH$Q]HLJHGHU(QHUJLHWDVWHU6LHYHUULHWHQRELUJHQGZRLQGHU 1lKH PLW IQI XQG PHKUGLUQHQVLRQDOHQ (QHUJLHQ JHDUEHLWHW ZXUGH ZDV LQ GHU 5HJHO DXI WHFKQLVFKKRFKVWHKHQGH/HEHZHVHQKLQGHXWHW ,FKKDEHHWZDVLP0DVVHWDVWHUJDE6KDNWDUEHNDQQW(LQ0RQGXQGLQGHU1lKHHLQQRFK NOHLQHUHU.|USHU /DVVVHKHQ %XOO\ ZDQGWH GHQ .RSI ]XU 6HLWH XQG EHWUDFKWHWH GLH $Q]HLJH DXI HLQHP NOHLQHQ .RQWUROOPRQLWRU 'HU 3ODQHW KDW HLQHQ 0RQG VWHOOWH %XOO\ IHVW 8QG DXI GHU 0RQGEDKQ KlQJW HLQ )UHPGN|USHULP5DXPLFKYHUPXWHGDVVHVVLFKXPGLH,&$KDQGHOW .DPHHVFKOXFNWH ,VWGDV6FKLIIYLHOOHLFKWJDUQLFKWJHODQGHW"IUDJWHVLH $EZDUWHQ XQG QDFKVHKHQ HPSIDKO %XOO\ (U VWULFK VLFK PLW GHU +DQG GXUFK GDV URWH %UVWHQKDDU ,FK ZHUGH VHOEVW KLQEHUJHKHQ ,FK NHQQH QlPOLFK GLHVHQ 6FKLIIVW\S HWZDV EHVVHUDOVLKU6KDNWDU PDFKHPLUELWWHHLQHQ$Q]XJNODU %XOO\VWHXHUWHGLH6SDFH-HWPLWGHU5RXWLQHGLHLKPPHKUDOVYLHU-DKUKXQGHUWHGHUhEXQJ JHJHEHQ KDWWHQ (U IORJ QDFK 6LFKW RKQH VLFK XP GLH ,QVWUXPHQWH ]X NPPHUQ :LH YLHOH HUVWNODVVLJH3LORWHQVROFKNOHLQHU)DKU]HXJHKDWWHHUHLQQDKH]XSKlQRPHQDOHV*HVSUIUGLH %HZHJXQJHQGHV6FKLIIHV (UEUDFKWHEHUHLWVLPHUVWHQ$QODXIGLH085*'23<$=$LQHLQH3DUNEDKQLQGHU1l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|WLJH=HLWDOOH)XQNWLRQHQ]XNRQWUROOLHUHQ(LQHLQ]LJHU)HKOHUNRQQWH
KLHUGHQ7RG]XU)ROJHKDEHQ 7UHLEVWRII%DWWHULHQXQG6DXHUVWRIIZDUHQHLQZDQGIUHL FKOHXVH|IIQHQEHVWLPPWH%XOO\ 6WDUNH 3XPSHQ VDXJWHQ GLH $WHPOXIW DXV GHU 6FKOHXVH 'HU /XIWGUXFNDQ]HLJHU DP OLQNHQ +DQGJHOHQNVDFNWHDXI1XOO'DQQJOLWWGLH6FKOHXVHDXI
.DPHHK|UWH5HJLQDOG%XOOV6WLPPHDXVGHP/DXWVSUHFKHU ,FK KDEH GDV 6FKLII HUUHLFKW TXlNWH HV DXV GHP /DXWVSUHFKHU 'LH 4XDOLWlW GHV NOHLQHQ 0LNURSKRQVLQ%XOO\V$Q]XJOLHVWDUN]XZQVFKHQEULJ(VLVWWDWVlFKOLFKGLH,&$ .DPHHV+HU]VFKODJEHVFKOHXQLJWHVLFK:DVZUGH%XOO\ILQGHQ" ,FKYHUVXFKHMHW]WDQ%RUG]XNRPPHQEHULFKWHWH%XOO\ZHLWHU'LH0DQQVFKOHXVHQVLQG JHVFKORVVHQGHVJOHLFKHQGLHJURHQ/DVWVFKOHXVHQ *LEWHVGDQQEHUKDXSWQRFKHLQH0|JOLFKNHLWDQ%RUG]XNRPPHQ"ZROOWH.DPHHZLVVHQ 6LHYHUVXFKWH%XOO\DXIGHP%LOGVFKLUPZLHGHU]XILQGHQDEHUHUZXUGHYRP5XPSIGHU,&$ DEJHGHFNW)UPLFKMD7|FKWHUFKHQVDJWH%XOO\PLWK|UEDUHU(UKHLWHUXQJ (LQ*OFNGDVVZLUHLQHQVRUVWLJHQ8UJURYDWHUDQ%RUGKDEHQNRQWHUWH.DPHHWURFNHQ
GDVVLFKPHLQH+DXW]X0DUNWHWUDJH (LQHNXU]H3DXVHHQWVWDQGGDQQPHOGHWHVLFK%XOO\HUQHXW ,FKELQLQGHU=HQWUDOH+LHULVWHEHQIDOOVDOOHVOHHU 'DV6FKLIILVWYHUODVVHQZRUGHQ,FKJHEHGLH6XFKHMHW]WDXIXQGNRPPH]XUFN 6LHKGRFKPDOLQGHQ3ULYDWNDELQHQQDFKEDW.DPHH9LHOOHLFKWILQGHWVLFKGRUWHLQ +LQZHLV (LQYHUVWDQGHQHUNOlUWH%XOO\6HLQH$WHP]JHZDUHQGHXWOLFK]XK|UHQ(VZDUQLFKW HLQIDFKVLFKLQGHQNHLQHVZHJVVHKUEHTXHPHQ5DXPDQ]JHQ]XEHZHJHQ 6LHKDEHQDOVRGDV6FKLIIYHUODVVHQPXUPHOWH.DPHH2EGRUWXQWHQLUJHQGZHOFKH6SXUHQ YRQLKQHQEULJJHEOLHEHQVLQG"
HUVWLFNWHXQGGDEHLZRKOZROOHQGJULQVWH 'XKDVWPHLQH)UDJHQRFKQLFKWEHDQWZRUWHWVWHOOWH.DPHHNQDSSIHVW:LHYLHO"³ %XOO\JULQVWH =X ZHQLJ VDJWH HU 8QG GDPLW JHQXJ ,KU ZROOW DOVR ODQGHQ +DEW LKU HLQHQ EHVWLPPWHQ 3XQNWLQV$XJHJHIDVVW" 9LHOOHLFKWNDQQPDQGHQ6WDQGRUWGHV%HLERRWV0DQNDQQVDJWH%XOO\XQGJULIIQDFK GHU6WHXHUXQJ6FKQDOOWHXFKDQ 'LH6SDFH-HWVHQNWHVLFKLQZHLWHP%RJHQDXIGHQ3ODQHWHQKHUDE(VZXUGHQ(LQ]HOKHLWHQ HUNHQQEDU HLQH EUDXQH )OlFKH PLW JUQHQ 6SUHQNHOQ YHUPXWOLFK /DQGPDVVHQ EHUDOO ZHLEODXH0XVWHUZDKUVFKHLQOLFK:DVVHUPLWGDUEHUWUHLEHQGHQ:RONHQ'HU3ODQHWlKQHOW DXVGHP:HOWUDXPHLQZHQLJGHUKHLPDWOLFKHQ(UGH 6R HLQ %HLERRW HQWKlOW ]LHPOLFK YLHO 0HWDOO HUNOlUWH %XOO\ 8QG VR JURH NRQ]HQWULHUWH 0HWDOOPDVVHQ DXI HLQHP 3ODQHWHQ NDQQ PDQ DQPHVVHQ YRUDXVJHVHW]W GLH %HY|ONHUXQJ KDW QLFKWZHLWHUH5DXPVFKLIIHDXI]XZHLVHQ ,FKZVVWHJHUQHZRKHUGLH8QVWHUEOLFKHQGLHVH:HOWNDQQWHQVDJWH6KDNWDU6LHKDEHQ JDUQLFKWHUVWODQJHJHVXFKWVLHVLQGVRIRUWKLHUKLQJHIORJHQ %XOO\ ]XFNWH PLW GHQ 6FKXOWHUQ 'LH 085* '2 3<$=$ WDXFKWH LQ GLH REHUVWHQ 6FKLFKWHQ GHU/XIWKOOHHLQ,QGHQ6FKLUPIHOGHUQNUHLVFKWHLRQLVLHUWH/XIW 9RUGHUKDOENXJHOLJHQ.XSSHOGHU6SDFH-HWZDEHUWHQU|WOLFKH0DVVHQ'LH/XIWGHV3ODQHWHQ VWDXWHVLFKYRUGHP%XJGHVNOHLQHQ6FKLIIHVXQGZXUGHGDEHLJOKKHL'D%XOO\V.XUVLQ ZHLWHP%RJHQGXUFKGLH1DFKWVHLWHKLQGXUFKDXIGLH7DJVHLWHGHV3ODQHWHQIKUWHELOGHWHVLFK EHVRQGHUVLPHUVWHQ7HLOGHU)DOONXUYHHLQ)HXHUEDOOYRUGHU085*'23<$=$(UHUORVFK VREDOG%XOO\GLH6LQNJHVFKZLQGLJNHLWGURVVHOWH :HQLJVSlWHUZDUGLHVRQQHQEHVFKLHQHQH6HLWHGHV3ODQHWHQHUUHLFKW8QWHUGHU6SDFH-HW]RJ GDV/DQGYRUEHLSSLJEHZDFKVHQH)OlFKHQZHQQDXFKRKQHHUNHQQEDUH6WUXNWXUHQ'DQQ NDPHLQEUHLWHV0HHUGDVLQGLHVHP$XJHQEOLFNJHUDGHHLQHQKHIWLJHQ:LUEHOVWXUPHUOHEWH ZLHGDV/XIWELOGGHXWOLFKEHZLHV$OVGHUQlFKVWH.RQWLQHQWHUUHLFKWZXUGHZDUGLH6SDFH-HW ELVDXIHLQLJHWDXVHQG0HWHUDQGLH2EHUIOlFKHGHV3ODQHWHQKHUDQJHNRPPHQ -HW]WEHJLQQWGLHHLJHQWOLFKH$UEHLWVDJWH%XOO\:DVLVWHXFKOLHEHUVROOHQZLULQMHGHP )DOO KLHU ODQGHQ RGHU ZROOW LKU HUVW HLQPDO GHQ JDQ]HQ 3ODQHWHQ QDFK GHP %HLERRW DEVXFKHQ" 1LFKWQ|WLJULHI6KDNWDU'DLVWHVVFKRQ (U GHXWHWH DXI GHQ 0RQLWRU 'HXWOLFK ]HLFKQHWH VLFK HLQH NRPSDNWH 0HWDOOPDVVH DXI GHP 6FKLUP DE DXI GHP DQVRQVWHQ QXU YHUVFKZRPPHQH .RQWXUHQ ]X HUNHQQHQ ZDUHQ GLH EHVWHQIDOOVHLQHPJXWHQ0LQHUDORJHQHWZDVVDJWHQ 'DVN|QQWHGDV%HLERRWVHLQVWLPPWH%XOO\]X:LUZHUGHQHLQPDOQDFKVHKHQ (U OLH GLH 085* '2 3<$=$ ZHLWHU DEVLQNHQ WLHIHU DXI GHQ 3ODQHWHQ KHUDE 8QWHU GHP 6FKLIIUDVWHQ:lOGHUXQGWLHIH7lOHUYRUEHL 0HKUQDFKUHFKWVULHW
DXVJHGHKQWHQ:DOG'HU%RGHQZDU*UDVEHVWDKQGHQRIIHQEDUKDWWHVLFKGDV6FKLIIVHLWVHKU ODQJHU=HLWQLFKWPHKUYRQGHU6WHOOHJHUKUW 5HJLQDOG%XOOZDUWHWHELVDOOH%HVDW]XQJVPLWJOLHGHUGHU085*'23<$=$DXIGHP%RGHQ GHV 3ODQHWHQ VWDQGHQ GDQQ PDFKWH HU VLFK DXI GHQ :HJ ]XP %HLERRW *HQDX LQ GLHVHP $XJHQEOLFNNDPHWZDVKHUDQJH]LVFKWVFKOXJPLWKHOOHP7RQDXIGHU+OOHGHU6SDFH-HWHLQ XQGVFKZLUUWHGDYRQ 6LHKDQVWLH5HJLQDOG%XOOKHUYRU:LUZHUGHQHUZDUWHW
)LQJHU YRQ GHQ :DIIHQ ULHI %XOO\ /HJW HXFK KLQ DEHU VFKLH QLFKW 'DV ZDU NHLQ JH]LHOWHU6FKXVV (UVHOEVWEHKLHOWGLHUHFKWH+DQGDP.ROEHQVHLQHU:DIIH'LHDQGHUHQGUHLKDWWHQVLFKIODFK DXIGHQ%RGHQJHZRUIHQ :DVPDJGDVJHZHVHQVHLQ"IUDJWH6KDNWDU]X%XOO\KLQDXIVHKHQG (LQ3IHLOYHUPXWHWH5HJLQDOG%XOO2GHULUJHQGHWZDVbKQOLFKHV:LUZDUWHQHLQIDFKDE ZDVSDVVLHUW :LOOVW GX QLFKW DXFK LQ 'HFNXQJ JHKHQ" IUDJWH .DPHH :HQQ GLHVH /HXWH XQV PDVVDNULHUHQZROOHQ %XOO\ODFKWHXQWHUGUFNW6LWXDWLRQHQZLHGLHVHVFKLHQHQLKP6SD]XPDFKHQ 6LH NHQQHQ XQV QRFK JDU QLFKW VDJWH HU EHOXVWLJW IROJOLFK KDEHQ VLH DXFK QRFK NHLQHQ *UXQG XQV ]X PDVVDNULHUHQ :HQQ LKU ZROOW N|QQW LKU DXIVWHKHQ HV VFKHLQW QLFKW VHKU JHIlKUOLFK]XVHLQ 9RUVLFKWLJVWDQGHQGLHGUHLDXI.DPHHVDKVLFKIXUFKWVDPXP1LFKWGDVVVLH5HJLQDOG%XOO QLFKWYHUWUDXWKlWWHDEHUVLHKDWWHLKUH=ZHLIHOREVLHGLH/DJHlKQOLFKEHXUWHLOHQZUGHZLH %XOO\GHPHVRIIHQNXQGLJQLFKWVDXV]XPDFKHQVFKLHQZHQQPDQDXILKQVFKR 'RUWNRPPHQVLHVDJWH%XOO\5HLWHU (U GHXWHWH PLW GHU +DQG DXI HLQH *UXSSH GLH VLFK DXV GHP :DOGUDQG O|VWH XQG ODQJVDP QlKHUNDP :DVVLHULWWHQNRQQWH.DPHHQLFKWHUNHQQHQ'LH7LHUHKDWWHQVHFKV%HLQHXQGVDKHQHLQHP MHQHU +LUWHQKXQGH ]XP 9HUZHFKVHOQ lKQOLFK EHL GHQHQ PDQ QLH ZXWH ZDV 9RUGHUWHLO XQG ZDV+LQWHUWHLOZDU 'LH*HVWDOWHQDXIGHQ5HLWWLHUHQZDUHQKXPDQRLGGDVKLHGD.DPHH]ZHL%HLQHHUNHQQHQ NRQQWH XQG ]ZHL $UPH GD .RSI XQG 5XPSI YRQ HLQDQGHU JHWUHQQW ZDUHQ 9LHO PHKU ZDU QLFKW]XVHKHQGLH5HLWHUWUXJHQ5VWXQJHQ (V GUIWH HLQ $UPEUXVWERO]HQ JHZHVHQ VHLQ NRPPHQWLHUWH
VRSHUIHNWH+DQGZHUNVNXQVWHUOHUQWKDEHQVROOWHQQRFKGD]XJOHLFKVDPLQGHUXPJHNHKUWHQ 5LFKWXQJ 'HU+HUUPLWGHPJUQHQ+HOPEXVFKVFKHLQWGHU&KHIGHV+DXIHQV]XVHLQVDJWH%XOO\ (U KRE JUHQG GLH UHFKWH +DQG GLH ,QQHQIOlFKH QDFK YRUQH JHNHKUW 'LHVHV 6\PERO ZDU EHUDOO LQ GHU *DOD[LV XQWHU KXPDQRLGHQ /HEHZHVHQ YHUVWlQGOLFK KLHU VFKLHQ HV DQGHUV ]X VHLQ 6LHJUHLIHQDQVWLH.DPHHKHUYRU 'LH5HLWHUJDEHQLKUHQ7LHUHQGLH6SRUHQXQGSUHVFKWHQORV(VZDUHQGUHLLJ%HULWWHQHXQG VLHVFKLHQHQZLOGHQWVFKORVVHQ%XOO\ZDQGWHVLFKXP'LH6FKOHXVHGHU085*'23<$=$ ZDUJHVFKORVVHQVLHLQGHUNXU]HQ=HLW]X|IIQHQHLQ'LQJGHU8QP|JOLFKNHLW /DXIWVFKULH%XOO\-HGHULQHLQHDQGHUH5LFKWXQJ (UVWUPWHGDYRQDEHUGLH)OXFKWNDPYLHO]XVSlW(LQHQ+HU]VFKODJODQJVSLHOWH5HJLQDOG %XOO PLW GHP *HGDQNHQ YRQ GHU :DIIH *HEUDXFK ]X PDFKHQ GDQQ DEHU YHUZDUI HU GHQ *HGDQNHQQRFKZDULKPQLFKWVJHVFKHKHQ(UKDWWHNHLQHUOHL5HFKWHLQ%OXWEDGXQWHUGHQ 5HLWHUQDQ]XULFKWHQ (WZDVWDXFKWHVFKHPHQKDIWYRU%XOO\V$XJHQDXIVHQNWHVLFKDXILKQKHUDEXQGEUDFKWHLKQ LP %UXFKWHLO HLQHU 6HNXQGH ]X )DOO (LQH OHGHUQH 6FKOLQJH PHLVWHUOLFK JHZRUIHQ LQ YROOHP *DORSSKDWWHVLFKXPVHLQHQ2EHUN|USHUJHOHJWXQG]XJH]RJHQ 'HU 5HLWHU SDULHUWH VHLQ 3IHUG GXUFK 6FKPHU]KDIW ]RJ VLFK GLH 6FKOLQJH XP %XOO\V %UXVW ]XVDPPHQ (U ZXUGH EHU GHQ %RGHQ JHZLUEHOW EHUVFKOXJ VLFK PHKUPDOV XQG VSUWH ZLH LKPGHU%RGHQGLH*HVLFKWVKDXWDXIVFKUIWH'DQQNODQJVSLW]XQGVFKULOOHLQ6FKUHLEHUGLH /LFKWXQJRIIHQEDUZDUDXFK.DPHHJHIDQJHQZRUGHQ 'HU0DQQRGHUZDUHVHLQH)UDXGHU%XOO\HLQJHIDQJHQKDWWHVWLHJPKVDPYRQVHLQHP 5HLWWLHU6HKUEHTXHPZDUHQGLH5VWXQJHQQLFKW=ZHLVHLQHU*HIlKUWHQVWLHJHQHEHQIDOOVDE %XOO\YHUVXFKWHJDUQLFKWHUVWVLFK]XU:HKU]XVHW]HQ,QVHLQHU1lKHZDUHQDXFKGUHL5HLWHU DXIJHWDXFKWGLHLKUH$UPEUVWHVFKXIHUWLJLQGHQ+lQGHQKLHOWHQMHGHU%RO]HQPXWHHLQ 7UHIIHUVHLQ 'HU $QIKUHU GHU *UXSSH GHU 5HLWHU PLW GHP JUQHQ +HOPEXVFK NDP QlKHU =ZHL GXQNOH $XJHQVWDUUWHQ%XOO\GXUFKGHQ6HKVFKOLW]ILQVWHUDQ'HU0DQQVFKOXJGDV9LVLHUKRFK 5HJLQDOG %XOO EOLFNWH LQ HLQ PHQVFKOLFKHV *HVLFKW (V NRQQWH NHLQHQ =ZHLIHO JHEHQ HV KDQGHOWHVLFKXP0HQVFKHQ'HU5HLWHUZDUHLQ0DQQXQGHUZDUVFKOHFKWUDVLHUW 'HU 5HLWHU VSUDFK %XOO\ DQ DEHU GHU YHUVWDQG NHLQ :RUW REZRKO HU GLH .OlQJH VHOWVDP YHUWUDXWIDQG(VK|UWHVLFKDQDOVKlWWHQGLH6SUDFKHGHV)UHPGHQXQGGLH%XOO\EHNDQQWHQ 6SUDFKHQ HLQLJH LUGLVFKH 6SUDFKHQ GD]X GDV LQ GHU *DOD[LV JHEUlXFKOLFKH ,QWHUNRVPR JHPHLQVDPHQ8UVSUXQJ %XOO\EHNDPHLQHQKHUDXVIRUGHUQGHQ6WRPLWGHUVWXPSIHQ6HLWHHLQHV6SHHUHVYHUVHW]W /DGDVKHUUVFKWHHUGHQ5HLWHUDQ 'DV*HVLFKWGHV$QIKUHUVGUFNWHHLQH5HJXQJDXVGLH%XOO\DXFKRKQH7UDQVODWRUYHUVWDQG $KD EHVDJWH GLH 0LHQH GHV 5HLWHUV ,P +LQWHUJUXQG HUNDQQWH %XOO\ .DPHH XQG GLH EHLGHQ MXQJHQ0lQQHU(VKDWWHQLFKWVJHQXW]WGDVLHVLFKJHWUHQQWKDWWHQHVZDUHQ]XYLHOH5HLWHU JHZHVHQXPLKQHQHQWNRPPHQ]XN|QQHQ 'HU&KHIGHUNOHLQHQ7UXSSHVWLHHLQLJH%HIHKOHKHUYRU%XOO\XQGGLHGUHLDQGHUHQZXUGHQ KDUW XQG NRPSURPLORV JHIHVVHOW 'LH 5HLWHU YHUVWDQGHQ VLFK DXI GDV +DQGZHUN DQ HLQH 6HOEVWEHIUHLXQJZDUQLFKW]XGHQNHQ :DVVLQGGDVIU/HXWH"IUDJWH.DPHH0HQVFKHQ" (VPVVHQZRKO0HQVFKHQVHLQVDJWH%XOO\$EHUIUDJHPLFKQLFKWZRGLHKHUNRPPHQ 'HU7UXSSVHW]WHVLFKZLHGHULQ%HZHJXQJ9LHU5HLWHUEOLHEHQVLFKHUKHLWVKDOEHULQGHU1lKH GHU085*'23<$=$]XUFNYHUPXWOLFKXPDXIZHLWHUH%HVDW]XQJVPLWJOLHGHU]XZDUWHQ 'HU5HVWQDKPGLH*HIDQJHQHQLQGLH0LWWH'LH5HLWHUZDUHQJQlGLJVLHOLHHQLKUH]RWWLJHQ 7LHUH LP 6FKULWW JHKHQ 'DV EHGHXWHWH GD %XOO\ XQG GLH DQGHUHQ HLQHQ ORFNHUHQ 7UDE HLQVFKODJHQPXWHQXPPLWKDOWHQ]XN|QQHQ
:RKLQZLUGPDQXQVEULQJHQ"VWLH6KDNWDUKHUYRU )UDJ PLFK QLFKW VDJWH %XOO\ ,FK YHUVWHKH VHOEVW QLFKW PHKU ZDV KLHU HLJHQWOLFK ORV LVW +DWPDQHXFKGLH:DIIHQDEJHQRPPHQ" 1HLQVDJWH
VHLGHQQGXUFKGLHGHUEElXHULVFKH.OHLGXQJ (VVLHKWDXVZLHHLQ9RONYRQ%OXPHQOLHEKDEHUQVDJWH.DPHH6HKWLKU"-HGHUWUlJWHLQH %OXPH %XOO\ VFKLHQ QLFKW GDUDXI ]X DFKWHQ (U VFKLHOWH PHKU QDFK GHQ %HZDIIQHWHQ DXHUGHP YHUVXFKWH HU RIIHQNXQGLJ VLFK GHQ 3ODQ GHU 6WDGW JHQDX HLQ]XSUlJHQ .DPHH VDK DXFK ZLH LQWHQVLY5HJLQDOG%XOOGLH.RQVWUXNWLRQGHVVFKZHUHQ6WDGWWRUVEHWUDFKWHWH2IIHQEDUKDWWHQ GLH IULHGIHUWLJHQ (LQZRKQHU GHU 6WDGW DXFK LKUH )HLQGH GLH 0DXHU ZDU PLW =LQQHQ XQG :HKUJlQJHQYHUVHKHQXQGEHUGHPK|O]HUQHQ7RUGDVPLWVFKZHUHQ(LVHQElQGHUQEHZHKUW ZDUGURKWHQGHP*HJQHUKlOLFKH3HFKQDVHQHQWJHJHQ :HQQZLU3HFKKDEHQVDJWH6KDNWDUGDQQKDOWHQVLHXQVIUGLHMHQLJHQJHJHQGLHGLHVH $EZHKUIHVWXQJJHEDXWZRUGHQLVW $EHUZLUWXQGRFKQLHPDQGHPHWZDVVDJWH.DPHH $OVREGDVHWZDVDXVPDFKWHJDE6KDNWDU]XUFN 'LH6WUDHQGHU6WDGWZDUHQVRJDUJHSIODVWHUWXQGDQGHQ6HLWHQGHU6WUDHQOLHIHQNQLHWLHIH $EZlVVHUJUlEHQ'HQQRFKODJEHUGHUJDQ]HQ6WDGWHLQH*HUXFKVZRONHDQGLHPDQVLFKHUVW HLQPDOJHZ|KQHQPXWHHVZDUHQ$URPHQGDUXQWHUGLHHVDXIGHU(UGHQLFKWPHKUJDE6R GUDQJEHLVSLHOVZHLVHDXVHLQHU*HUEHUHLHLQVWDUNHU*HUXFKDXIGLH6WUDHZLHLKQ.DPHHQLH ]XYRUZDKUJHQRPPHQKDWWH%HLHLQHP%OLFNLQGLH:HUNVWDWWNRQQWHVLHLP+LQWHUJUXQGGHQ ZDVVHUJHWULHEHQHQ:DONKDPPHUDUEHLWHQVHKHQZlKUHQGLP9RUGHUJUXQG]ZHL+HOIHU)HOOH IUGLH%HKDQGOXQJPLWbVFKHUYRUEHUHLWHWHQ $XVHLQHU%lFNHUHLZHKWHQVOLFKH'IWHEHUGLH6WUDHXQGHULQQHUWHQ.DPHHGDUDQGD VLHVHLWGHQIUKHQ0RUJHQVWXQGHQQLFKWVPHKUJHJHVVHQKDWWH'HU+XQJHUPHOGHWHVLFK 9RU GHQ 7RUHQ GHU %XUJ LP +HU]HQ GHU 6WDGW KLHOW GHU 5HLWHUWUXSS DQ 1HXJLHULJH VFKDUWHQ VLFK XP GLH YLHU *HIDQJHQHQ XQG ZHQQ .DPHH GLH 5XIH XQG *HVWHQ GHU 6WDGWEHZRKQHU ULFKWLJGHXWHWHZXUGHQVLHYRQGHQ6WlGWHUQEHOEHVFKLPSIW :DVKDEHQZLULKQHQQXUJHWDQ"IUDJWH.DPHHKDOEODXW 1LFKW XQEHGLQJW ZLU DEHU YLHOOHLFKW HXUH *URHOWHUQ VDJWH %XOO\ WURFNHQ 2EZRKO HV PHLQHQDOWHQ)UHXQGHQGXUFKDXVQLFKWlKQOLFKVLHKW$QODIUVRYLHO9RONVZXW]XOLHIHUQ 'LHVFKZHUHQ3RUWDOHGHU%XUJZXUGHQJH|IIQHW+LQWHUGHPHUVWHQ7RUJDEHVHLQHQ]ZDQ]LJ 0HWHU ODQJHQ *DQJ GHVVHQ 'HFNH YRQ HLQHP PDVVLYHQ (LVHQJLWWHU JHELOGHW ZXUGH )HLQGH GLH GDV HUVWH +LQGHUQLV EHUZDQGHQ PXWHQ GDQDFK HLQHQ 5HJHQ YRQ *HVFKRVVHQ GXUFKTXHUHQZHQQVLHDQGDV]ZHLWH3RUWDOKHUDQZROOWHQ 'LH 6WDGWEHZRKQHU ZDUHQ VHKU YRUVLFKWLJH /HXWH HUVW PXWH GDV lXHUH 7RU JHVFKORVVHQ ZHUGHQGDQQHUVWZXUGHGDVLQQHUHJH|IIQHW'DKLQWHUZDUHLQJHSIODVWHUWHU+RIHUNHQQEDU .DPHHVFKOXFNWH 0LWWHQDXIGHP+RIZDUHLQVWHLQHUQHU3IDKO]XHUNHQQHQLQGHQHLQHLVHUQHU5LQJHLQJHODVVHQ ZRUGHQZDU9RUGLHVHP3IDKOZDUGHU%RGHQYRQ$VFKHQVSXUHQEHGHFNW 0DQ VFKHLQW KLHU NHLQHQ )HKOHU GHV 0LWWHODOWHUV DXVODVVHQ ]X ZROOHQ EHPHUNWH %XOO\ WURFNHQ (U ZDUI HLQHQ NXU]HQ 6HLWHQEOLFN DXI .DPHH 6LH IKOWH GD VLH EOHLFK JHZRUGHQ ZDUULVLFKDEHU]XVDPPHQXQGYHUVXFKWHHWZDV]XSURGX]LHUHQZDVHLQWDSIHUHV/lGFKHOQ GDUVWHOOHQVROOWH 'LH %HZRKQHU GHU %XUJ ZDUHQ UHFKW ZHKUKDIW hEHUDOO ZDUHQ %HZDIIQHWH ]X VHKHQ 6FKZHUWWUlJHU 6SHHUVFKOHXGHUHUXQG%RJHQVFKW]HQ,QHLQHP:LQNHOGHV%XUJKRIVZDUHLQ 6FKLHVWDQGIUGLH%RJHQVFKW]HQDXIJHEDXWZRUGHQGRUWZXUGHLQWHQVLYWUDLQLHUWXQGZLH .DPHHIHVWVWHOOHQNRQQWHWUDIHQGLH%RJQHUYRU]JOLFK ,FKP|FKWHZLVVHQJHJHQZHQVLFKGLHVH/HXWHUVWHQPXUPHOWH
.QHFKWH HLOWHQ KHUEHL XQG VFKOHSSWHQ HLQ SDDU 6WKOH XQG HLQHQ 7HSSLFK DXI GHQ %XUJKRI KLQDXV :HQLJ VSlWHU HUVFKLHQ EHJOHLWHW YRQ HLQHU 6FKDU :UGHQWUlJHU GHU +HUUVFKHU GHU 6WDGW (VZDUHLQKRFKJHZDFKVHQHU0DQQPLWGXQNOHQ+DDUHQXQG$XJHQVFKODQNXQGQRFKQLFKW VHKU DOW (U WUXJ HLQ ODQJIDOOHQGHV *HZDQG DXV HLQHP U|WOLFKHQ 6HLGHQVWRII GDV PLW %URNDW EHVHW]W ZDU +LQWHU LKP WDXFKWHQ ZHVHQWOLFK SUXQNYROOHU JHNOHLGHWH *HVWDOWHQ DXI GHUHQ KRFKPWLJH*HVLFKWHU.DPHHDXIGHQHUVWHQ%OLFNPLILHOHQ 'HU .|QLJ RGHU *UDI VHW]WH VLFK DXI VHLQHQ 6WXKO HLQHQ HLQIDFKHQ K|O]HUQHQ 6HVVHO RKQH MHGHV 6FKQLW]ZHUN (U PXVWHUWH GLH *HIDQJHQHQ VHKU QDFKGUFNOLFK EHVRQGHUV ODQJH EHWUDFKWHWHHU.DPHHGLHQLFKWUHFKWZXWHREVLHVLFKEHUGDV.RPSOLPHQWIUHXHQVROOWH 'HU .|QLJ |IIQHWH GHQ 0XQG XQG VDJWH HLQ SDDU :RUWH GLH NHLQHU YRQ GHQ *HIDQJHQHQ YHUVWHKHQNRQQWH (VWXWXQVOHLGVDJWH5HJLQDOG%XOOK|IOLFKDEHUZLUYHUVWHKHQGLFKQLFKW 'HU.|QLJNQLIIGLH$XJHQ]XVDPPHQ(UVFKQLSSWHPLWGHQ)LQJHUQXQGULHIHLQHQ%HIHKO (LQLJH 0LQXWHQ YHUVWULFKHQ LQ GHQHQ QLFKWV ZHLWHU ]X K|UHQ ZDU DOV GDV *HUlXVFK HLQVFKODJHQGHU3IHLOHXQGGLH$QZHLVXQJHQGHU6FKLHOHKUHU 'DQQ HUVFKLHQ HLQH QHXH *HVWDOW DXI GHU %LOGIOlFKH (V ZDU HLQ *HIDQJHQHU HLQ 0DQQ LQ .HWWHQ (U ZDU QXU PLW /XPSHQ EHNOHLGHW GDV +DDU KLQJ ILO]LJ ELV DXI GLH 6FKXOWHUQ KHUDE GHVJOHLFKHQGHU%DUW'LH$XJHQODJHQWLHILQGHQ+|KOHQGDV*HVLFKWZDUPDJHUXQGZLUNWH DXVJH]HKUW $XI QDFNWHQ )HQ GLH PLW (LVHQ ]XVDPPHQJHNHWWHW ZDUHQ VFKOXUIWH GHU *H IDQJHQHKHUDQ :LHGHUVDJWHGHU.|QLJHWZDV (U ZLOO ZLVVHQ ZHU LKU VHLG VDJWH GHU *HIDQJHQH LQ HUVWDXQOLFK JXWHP ,QWHUNRVPR 8QG ZRKHULKUNRPPWZLOOHUDXFKZLVVHQ9HUVWHKWLKUPLFK" $OOHUGLQJVVDJWH5HJLQDOG%XOO:LUNRPPHQYRQGHU(UGH:LUVXFKHQQDFK6SXUHQGHU %HVDW]XQJGHU,&$ 9RQ7HUUD"IUDJWHGHU*HIDQJHQHHUVFKWWHUW:LUNOLFKYRQGHU(UGH" (LQH GHU :DFKHQ VWLH GHQ 0DQQ PLW GHP 6FKDIW GHV 6SHHUHV DQ (U EHHLOWH VLFK %XOO\V $QWZRUW]XEHUVHW]HQ $XIGLHVH:HLVHNDPPKVDPHLQH9HUVWlQGLJXQJLQ*DQJ (U LVW GHU 7DDPDU YRQ 0DFKOL NL 7LNND VDJWH GHU *HIDQJHQH 'DV LVW VRYLHO ZLH HLQ 6WDGWN|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|QQHQ6LHXQVYRQKLHUIRUWEULQJHQ" 9LHOOHLFKW DQWZRUWHWH %XOO\ ,FK ZUGH DEHU JHUQH ZLVVHQ ZDUXP GLH 5HLWHU GHV +RKHQ 7DDPDUV DXI XQV JHVFKRVVHQ KDEHQ XQG XQV KLHUKHU YHUVFKOHSSW KDEHQ 'LH $QWZRUW OLH QLFKWODQJHDXIVLFKZDUWHQ(UVDJWGDHU6LHGLH3HLWVFKHXQGGDV%UHQQHLVHQVFKPHFNHQ ODVVHQZLUGZHQQ6LHQRFKHLQPDOEHKDXSWHQVHLQH/HXWHKlWWHQ6LHDQJHJULIIHQ(UVDJWGD 6LHDXIGHP/DQGGHV7DDPDULDWVYRQ0DFKOLNL7LNNDQLFKWV]XVXFKHQKDEHQ :LUELWWHQGDIUXP9HU]HLKXQJHUZLGHUWH5HJLQDOG%XOOa(VZDUQLFKWXQVHUH$EVLFKW GLH%HZRKQHUGLHVHU:HOW]XVW|UHQRGHU]XlUJHUQ (UZLUGHVQLFKWJODXEHQVDJWH$\XUZHGD&XUOHDFKL6LHPVVHQZLVVHQGDVLHXQV KDVVHQDOOHPLWHLQDQGHU
8QGZDUXP" 'DVZHUGHQ6LHEDOGHUIDKUHQVWLHGHU*HIDQJHQHKHUYRU(UNQLFNWHLPOLQNHQ%HLQHLQ 6LQG6LHNUDQN"IUDJWH.DPHH&XUOHDFKLULFKWHWHVLFKZLHGHUDXI(UVFKWWHOWHGHQ.RSI 1XUKXQJULJVDJWHHU,FKKDEHVHLW7DJHQQLFKWVPHKUEHNRPPHQPDQKDWWHPLFK YHUJHVVHQ'DVSDVVLHUWDEXQG]XLQGHQ.HUNHUQ .DPHHVDKGDGHU+RKH7DDPDUVLHZLHGHUVFKDUILQV$XJHJHIDWKDWWH&DFKXPEDU VFKQLSSWHPLWGHP)LQJHUQXQGHLQHQ+HU]VFKODJVSlWHUZDU.DPHHIUHL0DQKDWWHLKUH )HVVHOGXUFKVFKQLWWHQ &DFKXPEDUELHWHW,KQHQDQVHLQ.HEVZHLE]XZHUGHQHUNOlUWHGHUhEHUVHW]HUZDV.DPHH VLFKEHUHLWVDXVGHQ%OLFNHQGHV7DDPDUV]XVDPPHQJHUHLPWKDWWH 'HQ7HXIHOZHUGHLFKWXQVWLH.DPHHKHUYRU 'HU*HIDQJHQHVDKVLHPLWOHLGLJDQ (ULVW]XVHLQHQ:HLEHUQXQG6NODYLQQHQUHFKWIUHXQGOLFKVDJWHHU8QGGLH.HUNHUVLQG VHKUIHXFKWXQGGXQNHO,FKZUGHHVPLUEHUOHJHQ 'DJLEWHVQLFKWV]XEHUOHJHQVDJWH.DPHHHQWVFKLHGHQ 6LHVWDQG]ZHL6FKULWWHYRQ%XOO\HQWIHUQW+LQWHULKUVWDQGHQ
.DPHHNDP]XVLFKZHLOGHU6FKPHU]VWlUNHUZXUGHDOVLKUH2KQPDFKW(VEUDQQWHK|OOLVFK LQGHU 6FKXOWHUZXQGH8PVLHKHUXPZDUDOOHVGXQNHO
6LHNRPPW]XVLFKK|UWH.DPHHHLQH0lQQHUVWLPPHVDJHQ6LHNODQJPHUNZUGLJGXPSI :RELQLFK"IUDJWH.DPHH'DQQHULQQHUWHVLHVLFKGLH085*'23<$=$GLH/DQGXQJ DXIGHP3ODQHWHQGLH*HIDQJHQQDKPH 6LQGZLULP.HUNHU"IUDJWH.DPHH $OOHUGLQJV VDJWH GLH 0lQQHUVWLPPH 6LH JHK|UWH ]X 5HJLQDOG %XOO ,FK JHK|UH QLFKW ]X GHQ/HXWHQ GLHVHKUQDFKWUDJHQGVLQGDEHULFKNDQQQLFKWYHUKHKOHQGDLFKGHLQHQKHOGHQNKQHQ$QIDOO
NHLQHVZHJVELOOLJHQNDQQ (VWXWPLUOHLGVDJWH.DPHH,FKKDEHJHGDFKW 9HUJLHVVDJWH%XOO\,FKNDQQPLUYRUVWHOOHQZDVGXGLUDXVJHGDFKWKDVW:LHJHKWHV GHU6FKXOWHU" (VWXWVHKUZHKVDJWH.DPHH$EHULFKZHUGHHVDXVKDOWHQN|QQHQ .HLQH 0LYHUVWlQGQLVVH VDJWH %XOO\ KDUW :LU KDEHQ NHLQH 0HGLNDPHQWH DOVR ZHUGHQ ZLU VR DXVNRPPHQ PVVHQ HJDO ZLH VFKOLPP GLH 6FKXOWHU ZLUG GX ZLUVW HV DXVKDOWHQ PVVHQ 8QG ZDV ZLUG MHW]W DXV XQV" ZROOWH 6KDNWDU ZLVVHQ 'LH :DIIHQ KDEHQ VLH XQV DEJHQRPPHQXQGLQGHQ%UXQQHQJHZRUIHQZRVLHLQNXU]HU=HLWYHUURWWHQZHUGHQ+DVWGX ZHQLJVWHQVQRFKGHQ,PSXOVVFKOVVHOIUGLH085*" 'HQ KDE LFK QRFK VDJWH %XOO\ $EHU HU ZLUG XQV YRUOlXILJ QLFKWV QXW]HQ $XV GLHVHP /RFKH KLHU ZHUGHQ ZLU VFKZHUOLFK KHUDXVNRPPHQ 'LH 0DXHUQ VLQG VHKU KRFK IDVW ]ZHL 0HWHU XQG ]ZLVFKHQ XQV XQG GHU )UHLKHLW OLHJHQ YLHU JHSDQ]HUWH 7UHQ ]ZHLKXQGHUW %H ZDIIQHWHXQGGLH%HY|ONHUXQJGLHVHU6WDGW +LHULVWQRFKQLHMHPDQGKHUDXVJHNRPPHQ VDJWHHLQHVFKZDFKH6WLPPH'LHVHV *HIlQJQLVZLUGXQVHU*UDEZHUGHQ 'DVEOHLEWDE]XZDUWHQVDJWH%XOO\,FKJHEHPLFKQRFKQLFKWYHUORUHQ 'XNDQQVWGLFKQDWUOLFKXQWHUZHUIHQVDJWHGHU*HIDQJHQH$EHUGDVZlUHHLQ6FKLFNVDO VFKOLPPHUDOV7RGXQG.HUNHUKDIW 8QWHUZHUIHQ"IUDJWH%XOO\ 'XZLUVWHVHUOHEHQVDJWHGHU*HIDQJHQHPGH6LHZHUGHQEDOGNRPPHQ,FKNHQQHVLH XQGLKUH0HWKRGHQ:DUWHWQXUDEEDOGNRPPHQVLH 6HLQH6WLPPHVDQN]XHLQHP)OVWHUQKHUDEZHQLJVSlWHUZDUHUHLQJHVFKODIHQ :DVPHLQWHUPLW8QWHUZHUIXQJ"IUDJWH.DPHH6LHVFKDIIWHHVJHUDGHGHQ6FKPHU]LQGHU 6FKXOWHU]XHUWUDJHQ'LH:XQGHZDUQXUQRWGUIWLJYHUVRUJWZRUGHQXQGDQGLH %RUGDSRWKHNHGHU085*'23<$=$NDPHQGLHYLHUQLFKWKHUDQ'LH*HIDKUYRQ:XQG EUDQGZDUQLFKW]XEHUVHKHQDXFKZHQQ.DPHHGHUOHLQXUYRP+|UHQVDJHQNDQQWHKDWWH VLHJURH$QJVWGDYRU :LHVSlWLVWHV"IUDJWHVLH%HNRPPHQZLUHWZDV]XHVVHQ" +LHUQLPPVDJWH<MJDHO(UUFNWHQlKHUDK.DPHHKHUDQ6LHKDEHQXQV:DVVHU JHEUDFKWXQG%URW(VVFKPHFNWVFKHXOLFKDEHUHVVlWWLJW .DPHHV$XJHQKDWWHQVLFKDQGLH'XQNHOKHLWJHZ|KQW6LHNRQQWHMHW]WVFKHPHQKDIWGLH DQGHUHQHUNHQQHQ,Q
-HW]W HUOHEWH .DPHH LQ ZHOFKHV /RFK PDQ VLH JHVWHFNW KDWWH (V JLQJ PRVVEHZDFKVHQH 7UHSSHQKLQDXIYRUEHLDQDQGHUHQ/|FKHUQIU+lIWOLQJH(VJDEVRJDUZDUHV=XIDOORGHU $EVLFKWGDGLH7URIIHQVWDQG"HLQH)ROWHUNDPPHULQGHU%XUJ .DPHHNQLIIGLH$XJHQ]XVDPPHQDOVVLHLQV)UHLHJHIKUWZXUGH'UDXHQVFKLHQGLH6RQQH HV ZDU DQJHQHKP ZDUP HLQ 7DJ ]XP 3LFNQLFNHQ GDFKWH .DPHH 'HU +RI GHU %XUJ ZDU JHGUlQJW YROO 0HQVFKHQ .DPHH VDK QXU GLH 0HQJH GLH *HVLFKWHU QDKP VLH QLFKW ZDKU :LHGHUZDUGHU7KURQVHVVHODXIJHEDXWZRUGHQZLHGHUVDGHU7DDPDUYRQ0DFKOLNL7LNND DXIVHLQHP6HVVHOGDV*HVLFKWVWUHQJGLH+lQGHUXKLJDXIGHQ.QlXIHQGHU6HVVHOOHKQH .DPHH VDK GD PDQ DXFK $\XUZHGD &XUOHDFKL DXV GHU .HUNHU]HOOH JHKROW KDWWH 'HU *HIDQJHQHPXVVWHIDVWJHWUDJHQZHUGHQVRVFKZDFKZDUHU ,KUEHKDXSWHWXQVHUH)UHXQGH]XVHLQOLHGHU7DDPDUIUDJHQ :LU VLQG QLHPDQGHV )HLQG DQWZRUWHWH 5HJLQDOG %XOO EHU GHQ 'ROPHWVFKHU ,FK ELWWH XQVHUHQ)HKOHU]XYHU]HLKHQ'DV:HLELVWMXQJXQGXQHUIDKUHQLPNULHJHULVFKHQ+DQGZHUN 6LHKlWWHZLVVHQPVVHQGDPDQVLFKQLFKWVRDXIIKUHQGDUI 0LW NHLQHP :RUW HUZl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|UPOLFKYRQLQQHQKHUDXV +DVWLJVDKVLHVLFKQRFKHLQPDOXP7DWVlFKOLFKMHGHUHUZDFKVHQH%HZRKQHUGHU6WDGWWUXJ HLQH%OXPHHLQJHOEOLFKHU%OWHQNUDQ]EODXPDUPRULHUWPLWIDVWYLROHWWHQ6WDXEJHIlHQ .DPHHHUVFKUDNELVLQV0DUN(VZDUEHLMHGHP(UZDFKVHQHQGLHJOHLFKH%OXPHXQGVLHVD EHLMHGHPDQGHUJOHLFKHQ6WHLOHXQGVDKJOHLFKDXV'LH(UZDFKVHQHQWUXJHQVLHDXVQDKPVORV KLQWHUGHQ2KUHQGLH)UDXHQOLQNVGLH0lQQHUUHFKWV(WOLFKHKDWWHQ%OWHQNUlQ]HDXIGHU 6WLUQDEHUMHGHUWUXJQXUHLQHHLQ]LJH%OWHGHV1RUPDOW\SV (QWEO|HGHLQ2KU)UHPGOLQJVDJWHGHU7DDPDU(UQDKPHLQHGHU3IOlQ]FKHQDXVGHP .DVWHQ .DPHH VDK YROOHU (QWVHW]HQ GD GLH 3IODQ]HQ HLQ IHXFKWURW VFKLPPHUQGHV :XU]HOJHIOHFKW]HLJWHQ'HU$QEOLFNZDUJUDXHQHUUHJHQGXQG.DPHHDKQWHYROO)XUFKWZDV GLHVHU9RUJDQJ]XEHGHXWHQKDWWH'LH%HZRKQHUGHV3ODQHWHQOHEWHQRIIHQEDULQHLQHU$UW 6\PELRVHPLWGLHVHQ3IODQ]HQ:DKUVFKHLQOLFKZXUGHQVLHYRQGHQ0RUGEOXPHQDXVJHVDXJW LQGLHVH5LFKWXQJEHZHJWHQVLFK.DPHHV*HGDQNHQ 6DJQHLQULHIVLH%XOO\]X(VVLQG 6\PELRQWHQ VDJWH%XOO\,FKNDQQVHKHQXQGGHQNHQ,FKOHKQHDE+RKHU7DDPDU 'HU+HUUVFKHUYRQ0DFKOLNL7LNNDKLHOW%XOO\GLH3IODQ]HKLQ'HP*HVLFKWGHV0DQQHV OLH VLFK HQWQHKPHQ GD HU GLH *HVWH WDWVlFKOLFK DOV IUHXQGVFKDIWOLFKHV $QJHERW YHUVWDQG 6HLQH0LPLNGUFNWHDXVGDVVHU%XOO\HLQHJROGHQH%UFNHDQERWXQGVLH]HLJWHGHXWOLFK WLHIJUHLIHQGH9HUlUJHUXQJDOV5HJLQDOG%XOOGDV$QJHERW]XUFNZLHV 'XPPN|SIHULHIGHU7DDPDUODXW,FKZROOWHHXFKUHWWHQDEHUMHW]WKDEWLKUDXFKGLHVH OHW]WH0|JOLFKNHLWYHUVSLHOW $XVGHU0HQJHGHU%HY|ONHUXQJNDPE|VZLOOLJHV.QXUUHQ'LH%HZRKQHUGHU6WDGWZDUHQ VLFKWOLFK HUERVW GD GLH )UHPGHQ GLH *DEH QLFKW DQQHKPHQ ZROOWHQ 9HUPXWOLFK ZDUHQ VLH IHVWLP*ULIIGHU3IODQ]HQ
,FK YHUVWHKH QXU HLQHV QLFKW VDJWH .DPHH :LH NRQQWHQ XQVHUH *URHOWHUQ DXI GHP 3ODQHWHQEOHLEHQZHQQVLHKLHUVROFKH=XVWlQGHDQJHWURIIHQKDEHQ" $\XUZHGD&XUOHDFKLOHKQWHVLFKLQHLQHP6FKZlFKHDQIDOOJHJHQ5HJLQDOG%XOO ,KUH *URHOWHUQ" VDJWH HU 'LH %HVDW]XQJ GHU ,&$" 6LH KDEHQ JHJODXEW PLW GHQ 6KDNRRWHHVIULHGOLFK]XVDPPHQOHEHQ]XN|QQHQ ,VWGDVGHU1DPHGLHVHU/HXWH" 'HU3ODQHWKHLWVRGLH/HXWHKHLHQVRXQGGLH3IODQ]HQWUDJHQHEHQIDOOVGLHVHQ1DPHQ 1XUZLUWUDJHQHLQHQDQGHUHQ1DPHQZLUVLQGGLH7HUUDQHUGLH$XVJHVWRHQHQ 8QYHUVWlQGOLFKPXUPHOWH6KDNWDU (UNRQQWHVLFKQLFKWXPGLHVHV3UREOHPNPPHUQGHQQGHU+RKH7DDPDUVFKLHQ]XHLQHU (QWVFKHLGXQJJHNRPPHQ]XVHLQ ,KUKDEWHVQLFKWDQGHUVJHZROOWVDJWHHUPLWIHLHUOLFKHU*HVWH0DQZLUGHXFKDXIGLH *LSIHO GHU (UNHQQWQLV IKUHQ XQG PDQ ZLUG HXFK GHQ :HJ ZHLVHQ LQ GLH .OIWH GHU (LQVLFKW,KUZHUGHW]XU(LQVLFKWJHEUDFKWZHUGHQZLHHVDXFKPLWHXUHQ9RUYlWHUQJHVFKDK :DVVROOGDVEHGHXWHQ"IUDJWH.DPHH 'D ZLU VWHUEHQ PVVHQ VDJWH $\XUZHGD &XUOHDFKL 1LFKW VHKU EDOG DEHU GDIU XQZLGHUUXIOLFK
%HUHLWVDPQlFKVWHQ0RUJHQZDUGHU7UDQVSRUW]XVDPPHQJHVWHOOW'DIUGDGLHVH5HLVHHLQ $XVIOXJ RKQH :LHGHUNHKU ZDU ]HLJWHQ VLFK GLH 6KDNRRWHHV HUVWDXQOLFK IUHXQGOLFK 'LH *HIDQJHQHQ EHNDPHQ 6SHLVH XQG 7UDQN XQG HLQ 4XDFNVDOEHU YRQ HLQHP $U]W VDK VLFK .DPHHV 6FKXOWHUZXQGH DQ 6LH YHUEL WDSIHU GHQ 6FKPHU] DOV HU PLW ]LHPOLFK UGHQ 0HWKRGHQ GLH 6FKXOWHU YHUEDQG YRU DOOHP GHU EHLHQG VFKDUIH .UlXWHUDEVXG GHQ HU LQ GLH :XQGHWUlXIHOWHEHUHLWHWH.DPHH6FKPHU]HQ %HL DOOHU )UHXQGOLFKNHLW ZDUHQ GLH 6KDNRRWHHV GHQ QRFK QLFKW JHZLOOW LKUH *HIDQJHQHQ HQWZLVFKHQ ]X ODVVHQ 'HQ IQI ZXUGHQ GLH +lQGH JHIHVVHOW XQG DQ GLH 6DWWHONQlXIH GHU *DKDUVJHEXQGHQ (VZDUNXU]QDFK6RQQHQDXIJDQJDOVVLFKGLH.DUDZDQHLQ%HZHJXQJVHW]WH=XP/HLGZHVHQ GHU7HUUDQHUIKUWHGHU:HJNHLQHVZHJVLQGLH5LFKWXQJLQGHUGLH085*'23<$=$]X VXFKHQZDU(VJLQJLP*HJHQWHLODXVGHPDQGHUHQ6WDGWWRUKLQDXVHLQHP*HELUJHHQWJHJHQ ,VWGRUWXQVHU=LHO"IUDJWH%XOO\NXU]QDFKGHP3DVVLHUHQGHV7RUHV&XUOHDFKL 'HU7HUUDQHUQLFNWHWUDXULJ 9LHOOHLFKW NRPPHQ ZLU QLH GRUW DQ VDJWH HU 8QVHU 5LWW ZLUG PHKUHUH 7DJH GDXHUQ XQG ZLUVLQGQLFKWVHKUNUlIWLJ(VLVWVHKUJHIlKUOLFKLP*HELUJH +DXSWVDFKHGLH5HLVHGDXHUWODQJHJHQXJVDJWH%XOO\ ,FKZWHZLUNOLFKJHUQHZRKHUGXGHLQH=XYHUVLFKWEH]LHKVWVDJWH.DPHH 6LH KDWWH 0KH VLFK DXI GHP *DKDU ]X KDOWHQ 'LH =RWWHOWLHUH ZDUHQ ]ZDU UHFKW JXWPWLJ DEHU VLFK PLW JHIHVVHOWHQ +lQGHQ XQG HLQHU LQIDP VFKPHU]HQGHQ 6FKXOWHUZXQGH GDUDXI ]X KDOWHQZDUQLFKWHLQIDFK %XOO\JULQVWHEUHLW (LQHQ9RUWHLOKDWHVZHQQPDQLQGHU6RODUHQ$GPLQLVWUDWLRQDUEHLWHW(VIlOOWDXIZHQQ PDQOlQJHUH=HLWQLFKW]XU$UEHLWHUVFKHLQW $FKZLUNOLFK"VSRWWHWH
(VJLEW0LWWHOXQG:HJHVDJWH%XOO\,QIUDURWRSWLNHQEHLVSLHOVZHLVH +RIIHQZLUGDV%HVWHPXUPHOWH.DPHH 'HU+RKH7DDPDUKDWWHGHQIQI*HIDQJHQHQHLQH%HGHFNXQJYRQGUHLLJ0DQQPLWJHJHEHQ =HKQ 3DFNWLHUHWUXJHQ9RUUlWH(VZDUNHLQNOHLQHU=XJGHUVLFKODQJVDPGXUFKGHQ:DOGZDQG 'LH :HJH ZDUHQ VFKPDO QLFKW PHKU DOV 7UDPSHOSIDGH 2IIHQEDU ZDU GHU 3ODQHW QXU UHFKW VSlUOLFKEHVLHGHOW'DVHUNOlUWHDXFKZDUXPGLH6KDNRRWHHVGHQ7HUUDQHUQVRYLHO%HGHXWXQJ EHLPDHQGHUHQ=DKOQlPOLFKPXWH]ZDQJVOlXILJUHFKWJHULQJVHLQXQGGDVZlUHEHLHLQHU JU|HUHQ%HY|ONHUXQJHLQHYHUVFKZLQGHQGH0LQGHUKHLWJHZHVHQ .DPHH EHREDFKWHWH XQDXVJHVHW]W LKUH :lFKWHU XQG LKUH %HJOHLWHU 6HOWVDPHUZHLVH WDWHQ GLH lW]HQGHQ .UlXWHU QDFK HLQLJHQ 6WXQGHQ LKUH YHUEOIIHQGH :LUNXQJ GLH 6FKPHU]HQ VFKZDQGHQ]XVHKHQGVDOOHUGLQJVZXUGHGLH6FKXOWHUHLQZHQLJJHIKOORV.DPHHKDWWHGDKHU HLQLJH0KHVLFKDXIGHP5FNHQLKUHV7LHUHV]XKDOWHQ ,KUILHODXIGDGLH:lFKWHUDXFKEHLGHUVWDUNHQhEHU]DKOHLQHQJHZLVVHQ5HVSHNWYRULKUHQ *HIDQJHQHQDQGHQ7DJOHJWHQ'LHVHU5HVSHNWKLHOWVLFKQDWXUJHPlLQHQJHQ*UHQ]HQZDU DEHUGXUFKDXV]XHUNHQQHQHVKDWWHGHQ$QVFKHLQDOVIUFKWHWHQVLFKGLH6KDNRRWHHVHLQ ZHQLJYRULKUHQ*HIDQJHQHQXQGVHLHQIURKVRVHKULQGHUhEHU]DKO]XVHLQ $OV HV QDFK .DPHHV =HLWJHIKO 0LWWDJ JHZRUGHQ ZDU ZXUGH HLQH 5DVW HLQJHOHJW 8PVWlQGOLFK VDWWHOWHQ GLH 5HLWHU DE XQG ZlKUHQG GLH 0HKU]DKO VLFK GDPLW EHVFKlIWLJWH GLH 5HLWWLHUH]XYHUVRUJHQYHUVFKZDQGHQYLHU0DQQLP:DOG6LHNHKUWHQQDFKHLQLJHU=HLWPLW HLQHP7LHU]XUFNGDVHLQHJHZLVVHbKQOLFKNHLWPLWHLQHPGXQNHOJUQHQ:LOGVFKZHLQKDWWH 'DV7LHUZXUGHDXVGHU'HFNHJHVFKODJHQXQGGDQQ]XP%UDWHQYRUEHUHLWHW9HUORFNHQG]RJ GHU*HUXFKGHV%UDWHQVEHUGLH/LFKWXQJ 2EZLUDXFKHWZDVEHNRPPHQ"IUDJWH5HJLQDOG%XOOGHPVLFKWOLFKGDV:DVVHULP0XQG ]XVDPPHQOLHI $\XUZHGD &XUOHDFKLVSUDFKGLH:DFKHQDQXQGZHQLJVSlWHUZXUGHQDXFKGLH*HIDQJHQHQ EHN|VWLJW 'DV )OHLVFK ZDU ]ZDU QLFKW ULFKWLJ GXUFKJHEUDWHQ GD]X IHKOWH RIIHQEDU GLH =HLW DEHUHVVFKPHFNWHXQGVlWWLJWH 6LH KDEH LFK PLU HLQHQ $EHQWHXHUXUODXE LPPHU YRUJHVWHOOW VDJWH 6KDNWDU 'HULQJKRXVH VDUNDVWLVFK(UVSUDFKEHLP(VVHQXQGGHU%UDWHQVDIWOLHILKPDQGHQ.LQQZLQNHOQKHUXQWHU 'LH7LVFKPDQLHUHQGHU6KDNRRWHHVZDUHQQRFKHWZDVXUWPOLFKHU +RIIHQWOLFK KDW GDV $EHQWHXHU HLQ HUIUHXOLFKHV (QGH ZQVFKWH VLFK .DPHH ,KUH 6FKXOWHU ZDUY|OOLJJHIKOORVJHZRUGHQXQGGDVEHHLQWUlFKWLJWHQDWXUJHPlDXFKGHQ*HEUDXFKGHU +lQGH.DXPYHUPRFKWHVLHGDV)OHLVFK]XKDOWHQ .DQQVWGXHVQRFKDXVKDOWHQ"IUDJWH%XOO\EHVRUJW (V ZLUG JHKHQ VDJWH .DPHH 'HU 3IODQ]HQVDIW GHQ GHU +H[HQPHLVWHU PLU DXI GLH :XQGHJHWUlXIHOWKDWWXW:XQGHU (LQ PRGHUQHV :XQGJHO KlWWH EHVVHUH 'LHQVWH JHOHLVWHW EHKDXSWHWH
(U YHUOLHI HLQW|QLJ (V JDE QLFKWV ]X VDJHQ XQG DOO]X LQWHQVLYH 8QWHUKDOWXQJHQ KlWWHQ K|FKVWHQV GDV 0LWUDXHQ GHU 6KDNRRWHHV KHUYRUJHUXIHQ -HGHU IDQG =HLW VHLQHQ *HGDQNHQ QDFK]XKlQJHQ *DQ]EHVRQGHUVWUDIGDVDXI.DPHH]XGLHQLFKWUHFKWZXWHZDVVLHYRQGHU/DJHKDOWHQ VROOWH 1RFK YRU HLQ SDDU 7DJHQ KDWWH VLH VLFK HLQHP HLQLJHUPDHQ OXVWLJHQ 6WXGHQWHQOHEHQ KLQJHJHEHQ$XVJHUVWHWPLWHLQHUEHVWHFKHQGHQ,QWHOOLJHQ]XQGJXWHP0HUNYHUP|JHQKDWWH VLH HV VLFK HUODXEHQ N|QQHQ IDVW MHGHV ]ZHLWH 6HPHVWHU ]X YHUEXPPHOQ RKQH GDEHL YRQ HLIULJHUHQDEHUZHQLJHUEHJDEWHQ.RPPLOLWRQHQEHUKROW]XZHUGHQ$XIGHU(UGHZDUWHWHQ MHW]WYHUPXWOLFKHLQLJHVFKULIWOLFKH+DXVDXIJDEHQDXILKUH)UHXQGHODQJZHLOLJH(UJVVHEHU XQLQWHUHVVDQWH7KHPHQMHGHQIDOOVDXVGHU6LFKWHLQHV1RUPDOEUJHUV=X+DXVHKlWWHVLHXP GLHVH7DJHV]HLWDQLUJHQGHLQHP6WUDQGGHV*RVKXQ6HHVJHOHJHQXQGVLFKLQGHU6RQQHJHDDOW YLHOOHLFKWVlHVLHDXFKDXIHLQHUGHUEUHLWHQ6WUDHQGHU+DXSWVWDGWXQGVlKHGHQ/HXWHQEHLP /HEHQ]X 6WDWWGHVVHQZXUGHVLHLQGLHVHP$XJHQEOLFNYRQHLQHPVHFKVILJHQ%HWWYRUOHJHUXQGHLQHU +RUGHOlFKHUOLFKPDVNLHUWHU0lQQHUGXUFKHLQHQZVWHQ8UZDOGJHVFKOHSSWXQGDQVWDWWVLFK XPGLHDFWLROLEHUDLQFDXVD]X NPPHUQUDXIWHVLHVLFKPLW(LQJHERUHQHQKHUXP$QVWHOOHHLQHVZLFKWLJHQ6HPLQDUVFKHLQV KDWWHVLHVLFKOHGLJOLFKHLQHWLHIH6FKXOWHUYHUOHW]XQJHLQJHKDQGHOW.DPHHEHUOHJWHHLQHQ $XJHQEOLFNODQJZLHVLHLKUHQ)UHXQGHQHUNOlUHQNRQQWHZDVVLFKEHUKDXSWDEJHVSLHOWKDWWH HVZUGHGHQ.RPPLOLWRQHQVLFKHUOLFKVFKZHUIDOOHQVLFKHLQH.DPHHYRU]XVWHOOHQGLH]XU :DIIHJULIIVFKRXQGEHVFKRVVHQZXUGH :LH ZDU VLH QXU LQ GLHVHV HEHQVR JHIlKUOLFKH ZLH OlFKHUOLFKH $EHQWHXHU KLQHLQJHUDWHQ" 6LH KDWWHGRFKLQHLQHUVROFKHQ:HOWEHUKDXSWQLFKWV]XVXFKHQ" 6HOWVDPHUZHLVHIDQG.DPHHVRJDUHLQHQJHZLVVHQ*HIDOOHQDQGLHVHP/HEHQDXFKZHQQHV HLQHQUHLFKOLFKVFKPHU]KDIWHQ$QIDQJJHQRPPHQKDWWH=ZDUEHNDPVLHODQJVDP6FKPHU]HQ GLHQLFKWVPHKUPLWGHU6FKXOWHUVRQGHUQVHKUODQJHP5HLWHQ]XWXQKDWWHQDEHUGDIUNRQQWH VLH HLQH /XIW DWPHQ GLH ZHGHU NOLPDWLVLHUW QRFK PLW DOOHUOHL XQZLOONRPPHQHQ *HUFKHQ DXIJHODGHQZDU 8QKHLOEDUURPDQWLVFKPXUPHOWH.DPHHVHOEVWNULWLVFK +l"PDFKWH%XOO\ 1LFKWV DQWZRUWHWH .DPHH XQG OlFKHOWH LKP ]X 'LHVHU 5HJLQDOG %XOO ZDU HLQ VHOWVDPHU %XUVFKHIDQGVLH 'D HU VHLQH $PWVJHVFKlIWH LP 6WLFK OLH XP PLW GUHL 6WXGHQWHQ HLQHQ ([SHGLWLRQVIOXJ ]X XQWHUQHKPHQ ZDU VFKRQ VHOWVDP JHQXJ 'D HU GDEHL LQ JU|WH /HEHQVJHIDKU JHUDWHQ ZDU DEHUQLFKWHLQHLQ]LJHV0DOPUULVFKRGHUEHOODXQLJJHZRUGHQZDUYHUVHW]WH.DPHHLQ(U VWDXQHQ LPPHUKLQ KDWWH 5HJLQDOG %XOO LQ GLHVHP 6SLHO HUKHEOLFK PHKU ]X YHUOLHUHQ DOV GLH DQGHUHQ 'HU %RGHQ ZXUGH ODQJVDP VWHLQLJHU 2IIHQEDU ZDU GDV *HELUJH LQ GHU 1lKH ]XPLQGHVW VHLQHHUVWHQ$XVOlXIHU'LH*DKDUVVFKULWWHQODQJVDPHUGHU:DOGORFNHUWHVLFKDXIHVZXUGH HLQZHQLJKHOOHU 'LH5HLWWLHUHPXWHQVLFKQXQDQVWUHQJHQXPDXIGHP]HUNOIWHWHQ%RGHQQLFKWGHQ+DOW ]XYHUOLHUHQ $XIJHSDWULHI%XOO\+DOWHWHXFKJXWIHVW 'LH 6KDNRRWHHV GDFKWHQ QLFKW GDUDQ GHQ *HIDQJHQHQ ]X KHOIHQ 6LH ULWWHQ ODQJVDP GHQ :HJ HQWODQJ GHQ GHU $QIKUHU GHV NOHLQHQ 7UXSSV DXVJHZlKOW KDWWH XQG HV NPPHUWH VLH QLFKWREGLH*HIDQJHQHQ0KHKDWWHQQLFKWDXVGHP6DWWHO]XNLSSHQ 1RFK HLQ SDDU 0LQXWHQ VDJWH 5HJLQDOG %XOO GDQQ KDEHQ ZLU GDV *U|EVWH IU KHXWH JHVFKDIIW
'HU :HJ IKUWH YRP :DOG KLQDE LQ HLQ 7DO (LQ :LOGZDVVHU VFKlXPWH ]ZLVFKHQ URVDIDUEHQHQ 6WHLQEO|FNHQ .DPHH IKOWH KHIWLJHV 9HUODQJHQ QDFK HLQHP %DG ZHQQ DXFK QLFKWLQGHPYHUPXWOLFKHLVLJNDOWHQ:LOGZDVVHU'LH6SLW]HGHV=XJHVKDWWHGDV*HZlVVHUHU UHLFKWGHUHUVWH5HLWHUVWDQGVRJDUVFKRQZLHGHUDPMHQVHLWLJHQ8IHU ,QGLHVHP$XJHQEOLFNJULIIHQGLH)HLQGHDQ (LQ +DJHO YRQ 3IHLOHQ XQG %RO]HQ VFKOXJ GHQ 6KDNRRWHHV HQWJHJHQ 'LH HUVWHQ 5HLWHU VWU]WHQDXVGHQ6lWWHOQ *DKDUVZXUGHQVFKHXXQGSUHVFKWHQPLWVDPWGHQIOXFKHQGHQ5HLWHUQGDYRQLUJHQGZRKLQ 'HFNXQJULHI6KDNWDU'HULQJKRXVH9HUVXFKWYRQGHQ7LHUHQ]XNRPPHQ 5HJLQDOG %XOO JOLWW PLW HUVWDXQOLFKHU *HVFKPHLGLJNHLW DXV GHP 6DWWHO 0LW ]ZHL 6lW]HQ VWDQG HU QHEHQ .DPHH XQG KDOI LKU DXV GHP 6DWWHO VR JXW VLFK GDV PLW JHIHVVHOWHQ +lQGHQ PDFKHQOLH .DPHH ILHO GHQQRFK DXI GHQ %RGHQ XQG HLQ IHXULJHU 6FKODJ ]XFNWH YRQ GHU YHUOHW]WHQ 6FKXOWHU KRFK =ZHL 6FKULWWH QHEHQ LKU VFKOXJ HLQ $UPEUXVWERO]HQ LQ HLQHQ 6WDPP HLQ XQG EOLHE]LWWHUQGGDULQVWHFNHQ 8QVHUH/HXWHULHI$\XUZHGD&XUOHDFKL8QVHUH/HXWH:LUVLQGJHUHWWHW 'DVEOHLEWDE]XZDUWHQVDJWH5HJLQDOG%XOO $XV]DKOUHLFKHQ9HUVWHFNHQLQGHU1lKHGHU)XUWZDULQ]ZLVFKHQHLQH6FKDUYRQIDVWYLHU]LJ 0lQQHUQKHUYRUJHEURFKHQXQGJULIIKDUWQlFNLJGLH6KDNRRWHHVDQ.DPHHNRQQWHVHKHQGD GLH 9HUWHLGLJHU GLH EHVVHUHQ :DIIHQ KDWWHQ DEHU VLH ZDUHQ LQ GHU 0LQGHU]DKO XQG GLH $QJUHLIHQGHQKDWWHQGLH*XQVWGHUh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|QQWLKU]HLJHQZDVLKUZHUWVHLG 5HJLQDOG %XOO ZDU GHU 6SUHFKHU XQG HU KLHOW LQ GHQ JHIHVVHOWHQ +lQGHQ HLQHQ GLFNHQ .QSSHO :LUQHKPHQLKQLQGLH=DQJHVDJWH6KDNWDU,FKNRPPHYRQUHFKWV
-HW]W ZDUHQ 6KDNWDU XQG
,FKQHKPHHVDQVDJWH5HJLQDOG%XOO 'LH 7HUUDQHU ZDUHQ QLFKW EHULWWHQ DEHU VLH QDKPHQ GLH *DKDUV PLW GLH GLH IOFKWHQGHQ 6KDNRRWHHV ]XUFNJHODVVHQ KDWWHQ 9RU DOOHP GLH 3DFNWLHUH ZDUHQ HLQH KRFKZLOONRPPHQH %HXWH .DPHH GLH VLFK XQPLWWHOEDU KLQWHU 5HJLQDOG %XOO KLHOW XP MHGHV :RUW PLWEHNRPPHQ ]X N|QQHQ VDK GD GLH 7HUUDQHU ]LHPOLFK lUPOLFKH /HXWH ZDUHQ 8UVSUQJOLFK KDWWH VLH DQJHQRPPHQ GD &XUOHDFKLV ]HUOXPSWH .OHLGXQJ DXI VHLQH ODQJH *HIDQJHQVFKDIW ]X UFN]XIKUHQ JHZHVHQ ZDU -HW]W DEHU PXWH VLH HUNHQQHQ GD VHLQH *HIlKUWHQ QLFKW ZHVHQWOLFK EHVVHU EHNOHLGHW ZDUHQ 'LH PHLVWHQ WUXJHQ DUJ ]HUVFKOLVVHQH .OHLGXQJVVWFNH GHUHQ)DUENRQVWDQ]DXILUGLVFKH)HUWLJXQJKLQZLHVRIIHQEDUKDQGHOWHHVVLFKXP.XQVWIDVHUQ GLH PHFKDQLVFK ZHVHQWOLFK OHLFKWHU ]X ]HUVW|UHQ ZDUHQ DOV IDUEOLFK $QGHUH ZLHGHU WUXJHQ *HZlQGHUDXV/HLQHQGHUHQDXVJHEOLFKHQH)DUEHQGHQ9HUGDFKWQDKHOHJWHQGDHVVLFKXP %HXWHVWFNH KDQGHOWH GLH EHL hEHUIlOOHQ DXI GLH 6KDNRRWHHV ]XVDPPHQJHWUDJHQ ZRUGHQ ZDUHQ(LQLJHZHQLJHOLHIHQJDULQJUREJHVFKQHLGHUWHQ)HOONOHLGHUQKHUXPGDVZDURIIHQEDU DOOHVZDVGLH7HUUDQHUDXVHLJHQHU.UDIWDXIGLHVHP*HELHW]XZHJHEUDFKWHQ 'LH 7HUUDQHU KDXVWHQ DP )X GHV *HELUJHV :HQQ PDQ .DPHH WDW HV LQ *HGDQNHQ HLQH /LQLHYRP/DQGHSODW]GHU085*'2 3<$=$ EHU 0DFKOL NL 7LNND ELV ]XP *HELUJH ]RJ GDQQODJGLH6LHGOXQJGHU7HUUDQHU]LHPOLFKZHLWOLQNVDP)XGHV*HELUJHV 'HU 3IDG GHU HLJHQWOLFK NDXP DOV VROFKHU ]X HUNHQQHQ ZDU VFKOlQJHOWH VLFK GXUFK HLQ NPPHUOLFK EHZDFKVHQHV *HELHW (V JDE YLHOH JURH XQG NOHLQH )HOVEURFNHQ GD]ZLVFKHQ VFKlXPWHHLQ*HELUJVEDFKPLWNODUHPXQGHLVLJNDOWHP:DVVHU /DQJVDPEHJDQQ.DPHH]XDKQHQZDVZHQLJHVWUDSD]L|VH6WXQGHQQDFKGHPhEHUIDOO 7DWVDFKHZXUGHGLH7HUUDQHUDXI6KDNRRWHHOHEWHQLQVWlQGLJHU$UPXWXQG8QWHUGUFNXQJ (VJDEWDWVlFKOLFKNHLQH6LHGOXQJGLH7HUUDQHUKDXVWHQYLHOPHKULQGHQ+|KOHQGHV *HELUJHV'RUWVXFKWHQVLH=XIOXFKWYRUGHQEHUDOOXPKHUVWUHLIHQGHQ3DWURXLOOHQGHU 6KDNRRWHHV GLHGHQ7HUUDQHUQDOOHQWKDOEHQQDFKVWHOOWHQ )DVVXQJVORVVDK.DPHH]XZLH5DVKPDGHQ=XJGHU7HUUDQHULQHLQHQHQJHQ)HOVVSDOWIKUWH (LQ%DFKVWUXGHOWHDXVHLQHUgIIQXQJLP)HOVXQGZHQQPDQGLHVHQNOHLQHQ:DVVHUIDOO GXUFKTXHUWHKDWWHPDQGDV,QQHUHHLQHUZHLWUlXPLJHQ+|KOHHUUHLFKW 'HU +RKOUDXP ]RJ VLFK HLQLJH KXQGHUW 0HWHU ZHLW GDUDQ VFKOR VLFK HLQ NOHLQHV 7DO DQ .DPHHEOLHEDP(LQJDQJVWHKHQ 'HU$QEOLFNZDUIDV]LQLHUHQGDEVWRHQGXQGHLQODGHQG]XJOHLFK(VJDEHLQ'XW]HQGDQGHQ )HOV JHEDXWHU +WWHQ LQ GHP 7DO $XV URK JHPDXHUWHQ 6WHLQHQ EHVWDQGHQ GLH :lQGH GLH 'lFKHUZDUHQPLWK|O]HUQHQ6FKLQGHOQJHGHFNW$XVGHQ.DPLQHQVWLHJKHOOHU5DXFKDXIXQG YHUORUVLFKLQGHU+|KH=ZLVFKHQGHQ+WWHQOLHIHQ.LQGHUXPKHUXQGLP+LQWHUJUXQGGHV 7DOHVJDEHVHLQHNOHLQH:HLGHDXIGHUHLQKHLPLVFKH1XW]WLHUHJUDVWHQ 'DV (UVFKHLQHQ GHU %HVXFKHU O|VWH HLQHQ =XVDPPHQODXI DOOHU %HZRKQHU GHV 7DOHV DXV 'LH .LQGHUYHUOLHHQLKUH6SLHOSOlW]HXQGVFKDUWHQVLFKXPGLH5HLWWLHUHGLH(UZDFKVHQHQOLHHQ LKUH$UEHLWHQLP6WLFKXQGQlKHUWHQVLFKEHGlFKWLJ +HLOLJH*DOD[LVHQWIXKUHV5HJLQDOG%XOO 'HU $QEOLFN ZDU EHGUFNHQG (U ZLUNWH XP VR EHNOHPPHQGHU DOV GLHVH 0HQVFKHQ XQPLWWHOEDUH 1DFKIDKUHQ MHQHU 7HUUDQHU JHZHVHQ ZDUHQ GLH PLW HLQHP KRFKPRGHUQHQ %HLERRW HLQHV QLFKW PLQGHU KRFKWHFKQLIL]LHUWHQ 5DXPVFKLIIV DXI GLHVHP 3ODQHWHQ JHODQGHW ZDUHQ'LH(UEHQGHU8QVWHUEOLFKHQZDUHQWLHIXQWHUGDV1LYHDXLKUHU*URHOWHUQJHIDOOHQ 'LHVLVWXQVHU=XKDXVH6LUVDJWH1DU\DO5DVKPD(LQZHQLJNPPHUOLFKDEHUZLUKDEHQ XQVGDUDQJHZ|KQW $XV GHU 0HQJH O|VWH VLFK HLQ ZHLKDDULJHU 0DQQ (U YHU]RJ GDV IDOWLJH *HVLFKW ]X HLQHP ZHKPWLJHQ/lFKHOQ 5HJLQDOG%XOOVDJWHHUKDOEODXW,FKKlWWH QLH JHJODXEW 6LH QRFK HLQPDO VHOEVW VHKHQ ]X
N|QQHQ 5HJLQDOG%XOONQLIIGLH$XJHQ]XVDPPHQ(UJLQJDXIGHQ$OWHQ]X 'HUVWUHFNWHGLH+DQGDXV %LOJLU (TUHP VWHOOWH VLFK GHU 0DQQ YRU ,FK ZDU HWZDV EHU GUHLLJ DOV LFK GLH HUVWH =HOOGXVFKHHUKLHOWGLHDXFKGLHOHW]WHZDU 6LHVLQGGHUOHW]WH"IUlJWHHUKDOEODXW'HU*UHLVQLFNWH ,FKKDEH*OFNJHKDEWVDJWHHU8QGGLHVHMXQJHQ/HXWHVLQGGDV1DFKNRPPHQYRQ ODVVHQ 6LH PLFK UDWHQ ,FK NHQQH GLH =JH LFK NDQQ PLFK JDQ] JHQDX HULQQHUQ +H &DYXV (UWHTXLQXQG'DJDLNRPPWHLQPDOKHU $XVGHU0HQJHO|VWHQVLFK]|JHUQG]ZHLMXQJH0lQQHUXQGHLQHMXQJH)UDX'HU$OWHJULQVWH YHUJQJWXQGVWULFKVLFKGXUFKGHQODQJHQZHLHQ%DUW ,FK PWH PLFK VHKU LUUHQ ZHQQ 6LH NHLQH (QNHOLQ YRQ 5RG 1\VVHQ VLQG VDJWH HU YHUVFKPLW]W'DVJOHLFKHWULIIWIUGLHVHQMXQJHQ0DQQ]X&DYXV1\VVHQ .DPHHJULIIQDFKGHU+DQGGLHLKUHQWJHJHQJHVWUHFNWZXUGH'HUMXQJH0DQQZDUXQUDVLHUW XQG URFK ]LHPOLFK VWUHQJ QDFK GHQ )HOOHQ GLH HU WUXJ 8QZLOONUOLFK ILHO .DPHHV %OLFN DXI LKUHODFNLHUWHQ)LQJHUQlJHOHLQJU|HUHU.RQWUDVWOLHVLFKVFKZHUOLFKYRUVWHOOHQ&DYXVVDK GLHNXU]H%HZHJXQJDEHUHUUHDJLHUWHQLFKWGDUDXI 'DJDLHLQHDWWUDNWLYH)UDXPLWODQJHQGXQNOHQ+DDUHQHUZLHVVLFKDOV$EN|PPOLQJYRQ &RQUDG'HULQJKRXVH XQG
ZDUHQIUHXQGOLFKDEHULKUH$UPXWZDUQLFKW]XEHUVHKHQ (V JDE YLHOHV ZDV DQ EHVVHUH =HLWHQ HULQQHUWH /HVHJHUlWH GLH QLFKW EHWULHEHQ ZHUGHQ NRQQWHQ ZHLO HV DP HOHNWULVFKHQ 6WURP IHKOWH 0DVFKLQHQ GLH DXV GHP JOHLFKHQ *UXQG JDU QLFKWHUVWDQJHZRUIHQZHUGHQNRQQWHQ:DVQXW]WHHLQWUDQVSRUWDEOHU5HDNWRUZHQQHVNHLQH *HUlWH JDE GLH PDQ PLW LKP KlWWH EHWUHLEHQ N|QQHQ ZHLO HV NHLQH .DEHO JDE GLH (QHUJLH YRP5HDNWRU]XP9HUEUDXFKHU]XOHLWHQ" 6WDWW GHVVHQ VDKHQ .DPHH XQG GLH DQGHUHQ YLHOH *HUlWH GLH VLH QLH ]XYRU DXV GHU 1lKH JHVHKHQ KDWWHQ EHLVSLHOVZHLVH SULPLWLYH :HEVWKOH EHL GHQHQ DOOHV YRQ +DQG JHPDFKW ZHUGHQPXWH:ROOHOLHIHUWHQGLH*DKDUVVRIHUQPDQZHOFKHHLQIDQJHQNRQQWH'LHVH:ROOH PXWHLQPKVHOLJHQ3UR]HGXUHQJHNlPPWJHZDVFKHQXQGHQWIHWWHWZHUGHQGDQQJHVSRQQHQ XQG IU GDV :HEHQ YRUEHUHLWHW 8QWHU GLHVHQ 8PVWlQGHQ YHUZXQGHUWH HV QLFKW GD GLH 7HUUDQHUDXI6KDNRRWHHVRVFKOHFKWJHNOHLGHWZDUHQ.DPHHVWHOOWHDEHUIHVWGDGLH)UDXHQ GHQHQ GLHVH $UEHLWHQ ]XJHIDOOHQ ZDUHQ DXI LKUH KDQGZHUNOLFKHQ .QVWH VHKU VWRO] ZDUHQ ,PPHUKLQ KDWWHQ VLH IU MHGHV HLQ]HOQH *OLHG GLHVHU 9HUDUEHLWXQJVNHWWH GLH YROOH 9HUDQWZRUWXQJJHWUDJHQZDUGDV(QGSURGXNWJXWGDQQILHOGLHVHV/REXQHLQJHVFKUlQNWDXI GLHEHWUHIIHQGH)UDX]XUFN:HUZlUHDXIGHU(UGHMHPDOVEHUHLWJHZHVHQHLQHQ$UEHLWHUIU VHLQ :HUN ]X OREHQ GHU QLFKWV ZHLWHU WDW DOV HLQLJH WDXVHQG 0DO DP 7DJ GHQ JOHLFKHQ +DQGJULIIGXUFK]XIKUHQGHVVHQ6LQQXQG=ZHFNHUZRP|JOLFKJDUQLFKWEHJULII" 1DFKGHPGHU5XQGJDQJEHHQGHWZDUVWDQGIU.DPHHIHVWZDVJHWDQZHUGHQPXWHGLH 7HUUDQHUPXWHQVRVFKQHOOZLHP|JOLFKJHUHWWHWZHUGHQEHYRUVLHXQWHUGLHVHQ%HGLQJXQJHQ ]XU*lQ]HYHUNDPHQ :HQQ HLQ 6FKLII NRPPW VDJWH .DPHH ]X HLQHU )UDX GLH HLQ EXQWVFKLOOHUQGHV :LOGJHIOJHOIUGDVDEHQGOLFKH0DKOUXSIWHGDQQZHUGHQZLUHXFKDOOHPLWQHKPHQ 0LWQHKPHQ"IUDJWHGLH)UDX6LHZDUHWZDVRDOWZLH.DPHHZLUNWHDEHUHQWVFKLHGHQ NUlIWLJHUXQGDXFKHLQZHQLJVHOEVWEHZXWHU:RKLQPLWQHKPHQ"8QGZDUXP" .DPHHVDKLKUH%HJOHLWHUIDVVXQJVORVDQ :ROOWLKUGHQQKLHUEOHLEHQ"IUDJWHVLHHQWJHLVWHUW 6HOEVWYHUVWlQGOLFK DQWZRUWHWH &DYXV 1\VVHQ HLQ ZHQLJ EUXPPLJ =X GHQ JHVFKQLHJHOWHQ 1HXDQN|PPOLQJHQ VFKLHQ HU ZHQLJ 9HUWUDXHQ ]X KDEHQ XQG VHLQH KEVFKH 9HUZDQGWH EHlXJWH HU PLW VLFKWOLFKHP 0LWUDXHQ (V JHIlOOW XQV KLHU ZLU PWHQ QXU HLQHQ :HJ ILQGHQXQVPLWGHQ6KDNRRWHHV]XHLQLJHQ:HQQLKUPLWHXUHP6FKLIINRPPWGDQQUDGLHUW LKUGLH6WlGWHGHU6KDNRRWHHVHLQIDFKDXVXQGGDQDFKN|QQHQZLUKHUUOLFKOHEHQ $XVUDGLHUHQ ZLHGHUKROWH 5HJLQDOG %XOO .LQGHU LKU VHLG EHUJHVFKQDSSW :HQQ GHLQ *URYDWHUGLFKK|UHQN|QQWHPHLQ)UHXQGGDQQZUGHHUGLUHLQH6WDQGSDXNHKDOWHQGLHVLFK JHZDVFKHQKDW$XVUDGLHUHQQLFKW]XIDVVHQ 'LH VLQG DXFK QLFKW IUHXQGOLFKHU ]X XQV VWLH &DYXV KHUYRU 6HKHQ 6LH VLFK GRFK $\XUZHGDDQZLHVLHGHQ]XJHULFKWHWKDEHQ /DQJVDP -XQJH ZDUI %LOJLU (TUHP HLQ 'X ZHLW GD &XUOHDFKL HLQ ZHQLJ VHOWVDP LVW 'LH PHLVWHQ YRQ XQV ZUGHQ DEHU WDWVlFKOLFK OLHEHU KLHU EOHLEHQ 1DFK GHU (UGH KDEHQ ZLU NHLQHJURH6HKQVXFKWZLUNHQQHQVLHMDNDXP .DPHHZDUIQRFKHLQPDOHLQHQ%OLFNLQGLH5XQGH.RQQWHPDQGDVEHUKDXSWOHEHQQHQQHQ GLHVHV NlUJOLFKH PKHEHODGHQH 'DVHLQ DP 5DQGH GHV ([LVWHQ]PLQLPXPV" 6LH VHOEVW IDQG QXU *HIDOOHQ GDUDQ ZHQQ VLH HV PLW %HJULIIHQ ZLH $EHQWHXHU $EZHFKVOXQJ XQG 8UODXE YHUEDQG$OV/HEHQDXI'DXHUVFKLHQHVLKUXQHUWUlJOLFK 1XQ VLH ZUGH GDV /HEHQ LQ GHP 7DONHVVHO GHV *HELUJHV QLFKW ODQJH HUWUDJHQ PVVHQ (LQ SDDU 7DJH LQ GHQHQ VLH LKUH 6FKXOWHUZXQGH DXVNXULHUHQ NRQQWH GDQQ PXWH GDV 6FKLII YRQ 7HUUDNRPPHQXQGGDQQKDWWHGDV(OHQGHLQ(QGH 6LHDKQWHQLFKWGDHVJHUDGHHUVWEHJDQQ 0LWWHQ DXI GHP 3ODW] EUDQQWH GDV JURH )HXHU (V NQLVWHUWH XQG SUDVVHOWH hEHU GHP )HXHU GUHKWH VLFK DXI HLQHP ODQJHQ 6SLH GDV $EHQGHVVHQ HLQ KLUVFKlKQOLFKHV 7LHU ZDU HUOHJW
ZRUGHQGD]XHLQMXQJHV:LOGVFKZHLQDXHUGHPJDEHVQRFKHLQHODQJH5HLKHIHWWHU9|JHO GHUHQ)HWWLP)HXHUNQLVWHUQGYHUEUDQQWH .DPHH IDQG GHQ $QEOLFN URPDQWLVFK ,Q $XJHQEOLFNHQ ZLH GLHVHP NRQQWH VLH GLHVH /HEHQVIRUPVRJDUJHQLHHQ(VIHKOWHLKU]ZDUGHU7DIHOZHLQGHUDXIGHU(UGHEHL3LFNQLFNV VWHWV ]X ILQGHQ ZDU DEHU GDIU ZXUGH VLH UHLFKOLFK HQWVFKlGLJW (V JDE NULVWDOONODUHV 4XHOOZDVVHU ]X WULQNHQ IU ,QWHUHVVHQWHQ VWDQGHQ JU|HUH 0HQJHQ GHV KRFKSUR]HQWLJHQ *HWUlQNVEHUHLWXQGLQGHQ$EHQGVWXQGHQKDWWHQGLH-XJHQGOLFKHQGHVNOHLQHQ'RUIHVLQGHU 8PJHEXQJ1VVHXQG%HHUHQJHVDPPHOW .DPHHKDWWHVLFKDXIGHQJUDVLJHQ%RGHQJHVHW]WXQGKLHOWGLHDQJH]RJHQHQ.QLHPLWGHQ $UPHQXPNODPPHUW7UlXPHULVFKVDKVLHLQGDVORGHUQGH)HXHUKLQHLQ1HEHQLKUKDWWHQHV VLFK
6LH KDEHQ VLH QLFKW ODQJH JHQXJ NHQQHQJHOHUQW VWLH (TUHP KDHUIOOW KHUYRU (V VLQG :LOGH JODXEHQ 6LH PLU 6LH VSUHFKHQ PLW *HLVWHUQ XQG 'lPRQHQ XQG WXQ YLHOH E|VH XQG JHKHLPQLVYROOH'LQJH:LUNHQQHQGLH6KDNRRWHHV ZLUZLVVHQZDVZLUYRQLKQHQ]XKDOWHQ KDEHQ .DPHH VDK LKUH EHLGHQ *HIlKUWHQ DQ 'DV 6FKXOWHU]XFNHQ GUFNWH EHL EHLGHQ 0lQQHUQ GHQ JOHLFKHQ*HGDQNHQDXV /DLKQUHGHQHULVWQLFKWPHKU]XlQGHUQ 7|QHUQH.UJHPLWNDOWHP)UXFKWVDIWZDQGHUWHQGXUFKGLH5HLKHQ,UJHQGZHULP+LQWHUJUXQG VWLPPWHHLQDOWHV/LHGDQGDV.DPHHHQWIHUQWEHNDQQWHUVFKLHQ(LQHUGHU0lQQHUVWDQGDXI XQGEHJDQQYRQGHQ%UDWHQGLFNHVDIWLJH6FKHLEHQDE]XVFKQHLGHQ'DV*HVFKLUUEHVWDQGDXV +RO]HVJDE7HOOHUXQGWLHIH1lSIHLQGHQHQ)UFKWHXQG1VVHODJHQ .DPHHVFKPHFNWHHV6LHYHUJDVHKUUDVFKGD GUDXHQ LUJHQGZR LP 'XQNHO VHOWVDPH 0HQVFKHQ OHEWHQ EHU GHUHQ $EVWDPPXQJ QLHPDQG HWZDV ZXWH XQG GLH HUELWWHUWH )HLQGH GLHVHU KHLWHUHQ 5XQGH ZDUHQ 6LH YHUJD DXFK GLH 9HUOHW]XQJDQGHU6FKXOWHUJDQ]VRXQIlKLJZDUGHU0HGL]LQPDQQGHU6KDNRRWHHVGRFKQLFKW JHZHVHQ .DPHH KDWWH VLFK GDYRQ EHU]HXJW GLH :XQGH KHLOWH VDXEHU XQG YHUEOIIHQG VFKQHOO +DW MHPDOV HLQHU YHUVXFKW JHQDX KHUDXV]XILQGHQ ZDV DXV 'HULQJKRXVH 1\VVHQ XQG )UH\W JHZRUGHQLVW" %LOJLU(TUHPVFKWWHOWHGHQ.RSI 'DV KDW NHLQHU YRQ XQV JHZDJW VDJWH HU EHGUFNW :LU ZDUHQ VHKU ZHQLJH XQG GLH 9HUVXFKH GLH ZLU JHZDJW KDEHQ OLHIHQ GDUDXI KLQDXV DQ GDV %HLERRW GHU ,&$ KHUDQ]XNRPPHQ:LUKDEHQXQVGDEHLHLQLJH0DOHEOXWLJH.|SIHJHKROWXQGKHXWHYHUVXFKHQ ZLUHVJDUQLFKWPHKU'DV'LQJLVWYRQGHQ6KDNRRWHHVVR]HUVW|UWZRUGHQGDPDQHVQLFKW PHKUEUDXFKHQNDQQ %XOO\ZDQGWHVLFK]X.DPHHXP :HQQ ZLU GLHVH $QJHOHJHQKHLW KLHU HUOHGLJW KDEHQ VDJWH HU UXKLJ ZHUGHQ ZLU XQV GHV 3UREOHPV DQQHKPHQ 1DFK GHQ (UIDKUXQJHQ GHU OHW]WHQ 7DJH VFKHLQW HV PLU UDWVDP HLQHQ $XVIOXJLQV*HELUJHQXUPLWPRGHUQHU$XVUVWXQJ]XXQWHUQHKPHQ 8QZLOONUOLFKJULIIVLFK.DPHHDQGLH6FKXOWHU 'HU0HLQXQJELQLFKDXFKVDJWHVLH8QGLFKEUHQQHGDUDXIGDV*HKHLPQLV]XOIWHQGDV EHUGHP%HUJXQGGHP)OXOLHJW 3O|W]OLFKGRFK,QWHUHVVHEHNRPPHQ"IUDJWH
'HU0RQGVFKLHQODQJVDPDP5DQGGHV7DOHVYRQDXHQKRFK]XNULHFKHQ,QVHLQHP/LFKW HUVFKLHQHQGLH=DFNHQGHUQDKHQ%HUJJLSIHOVFKURIIXQGEHVRQGHUVDEZHLVHQG$XFKGHU 3RVWHQDXIGHU+|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lFKVWHQ7DJHEHUVWHKW6REDOGGDV6FKLII JHODQGHWLVWLVWGLH*HIDKUYRUEHU$OOHVZDVZLUEUDXFKHQLVW=HLW 'LHZHUGHQZLUNDXPKDEHQNQXUUWH1DU\DO5DVKPDQ:LUVLW]HQKLHULQGHU)DOOHZLHGHU 6SHFNXQGGLHVH)DOOHKDWVLFKOlQJVWJHVFKORVVHQ .DPHHIKOWHGDMHPDQGDQLKUHP3XOORYHU]XSIWH6LHGUHKWHVLFKXP9RULKUVWDQGLKU 9HUZDQGWHU&DYXV1\VVHQ .RPPPLWVDJWHHUOHLVH,FKNHQQHHLQHQ:HJGHUYLHOOHLFKWLQV)UHLHIKUW+DVWGX 9HUWUDXHQ" .DPHHVFKDIIWHHVVRJDUQRFKLQGLHVHU/DJHLKUUHLFKOLFKORVHV0XQGZHUNORV]XODVVHQ 1LFKWVHKUYLHOVDJWHVLHJULQVHQG$EHUQRFKYLHOPHKU$QJVW:RKLQZLOOVWGXJHKHQ" .RPPPLWVDJWH&DYXV1LPPGHLQH)UHXQGHPLW ,FKVFKODJHHXFKQRFKHLQPDOYRUHUJHEWHXFKVDJWH%XOO\1XUGDQQKDEWLKUHLQH &KDQFH 1LHPDOVVFKULH%LOJLU(TUHP'HUDOWH0DQQKDWWHY|OOLJGLHhEHUVLFKWXQGGLH.RQWUROOH EHUVLFKVHOEVWYHUORUHQ/LHEHUVWHUEHQZLUDOVGDZLUXQVGLHVHQ:LOGHQHUJHEHQ %XOO\SUHWHGLH/LSSHQDXIHLQDQGHU .RPP ULHI.DPHHLKP]X(VKDWNHLQHQ6LQQGXZLUVWVLHQLFKWEHU]HXJHQ %XOO\O|VWHVLFKYRQGHU*UXSSH ,P7DOZLUEHOWHQGLH0HQVFKHQGXUFKHLQDQGHU1LHPDQGVFKULHDEHUDOOHVVSLHOWHVLFKPLW XQJODXEOLFKHU6FKQHOOLJNHLWDE'DV)HXHUEUDQQWHZHLWHULQGHQ)ODPPHQYHUNRKOWHGDV )OHLVFK'HU)HLQGVROOWHQLFKWIUK]HLWLJLQIRUPLHUWZHUGHQGDPDQLKQJHVHKHQKDWWH'LH )UDXHQEUDFKWHQLKUH.LQGHULQGLH+WWHQXQGNHKUWHQGDQQEHZDIIQHWPLW.QSSHOXQG 0HVVHU]XUFNRIIHQNXQGLJHQWVFKORVVHQQDFK.UlIWHQLQGHQ.DPSIHLQ]XJUHLIHQ'LH 0lQQHUPKWHQVLFKGHUZHLODEGHQ(LQJDQJGHU+|KOHDE]XULHJHOQ(VZUGHLKQHQZHQLJ QW]HQGDVZXWH.DPHH'LH6KDNRRWHHVNRQQWHQGLH7HUUDQHUPKHORVDXVKXQJHUQ:HQQ VLHGDVWDWHQZDUGDV6SLHOJHZRQQHQHVJLQJQXUQRFKXPGLH=HLWXPPHKUQLFKW /RVNRPPW
&DYXV]HUUWH.DPHHKLQWHUVLFKKHU
:LUGPDQXQVQLFKWILQGHQ" 9RP7DODXVVLQGZLUQLFKW]XVHKHQ(VJLEWKLHUHLQH1LVFKHLP)HOVGRUWZHUGHQZLUXQV YHUEHUJHQ 'LH1LVFKHZDUEDOGJHIXQGHQ)UVLHEHQ(UZDFKVHQHERWVLHNHLQHQ3ODW]YLHUPXWHQ GUDXHQEOHLEHQXQG]XVHKHQZRVLHVLFKYRUGHQQHXJLHULJHQ%OLFNHQGHU6KDNRRWHH YHUEDUJHQ ,P7DOEUDQQWHQMHW]WVlPWOLFKH+WWHQ:HKUXIHNODQJHQ]XP+LPPHOKLQDXI 6FKPHU]HQVVFKUHLHGHU0lQQHUYHU]ZHLIHOWH5XIHGHU)UDXHQGDV-DPPHUQYRQ.LQGHUQGLH QDFKLKUHQ0WWHUQVFKULHQ .DPHHZDUQRFKQLHVRXQYHUPLWWHOWKDUWPLW*HZDOW]XVDPPHQJHVWRHQ)UVLHZDUHQ0RUG 7RWVFKODJ.ULHJXQGhEHUIDOOHWZDVZDVLP7ULYLGVWDWWIDQGZRUEHUPDQODVXQGZDVHLQHP 6SDEHUHLWHWHZHQQGHU+HOGDPODQJHQ.URQOHXFKWHUVHLOGXUFKGHQ%DQNHWWVDDOKDQJHOWH XPGHP0|UGHUDXIGHP.|QLJVWKURQPLWHLJHQHU+DQGGHQ*DUDXV]XPDFKHQRGHUZDV DXFKLPPHUVLFKDQURPDQWLVFKHU$NWLRQLQVROFKHQ6WUHLIHQDE]XVSLHOHQSIOHJWH,QGHQ PHLVWHQGLHVHU6WUHLIHQUHPSHOWHQ0lQQHUJHJHQHLQDQGHUXQGGHU%|VHILHOXQGZXUGHQLFKW PHKUJHVHKHQZlKUHQGGHU+HOGVHLQHQ6LHJHVODXIIRUWVHW]WH .DPHHSUHWHVLFKKDUWDQGHQ)HOV6LHYHUVXFKWHJDUQLFKWHUVWVLFKDXV]XPDOHQZDVLQ GLHVHQ$XJHQEOLFNHQXQWHQLP7DOJHVFKDKZRULFKWLJHV%OXWIORXQGWDWVlFKOLFKJHOLWWHQXQG JHVWRUEHQZXUGH'HQQRFKGUlQJWHQVLFKLKUJUlOLFKH%LOGHUDXI 8QZLOONUOLFKJULIIVLHQDFKGHU6FKXOWHU6LHYHUVXFKWHVLFKGHQ6FKUHFNHQXQGGHQ6FKPHU] YHUWDXVHQGIDFKWYRU]XVWHOOHQDEHUIUGLHVH$XIJDEHUHLFKWHLKUH3KDQWDVLHQLFKWDXV 6LHZXWHVHOEVWQLFKWZRKHUVLHGD]XGLH1HUYHQVWlUNHDXIEUDFKWHDEHUHVJHODQJLKU WDWVlFKOLFKIUHLQSDDUWUDXPORVH6WXQGHQLQ6FKODI]XIDOOHQ $OVVLHHUZDFKWHZDUHVIUKHU0RUJHQhEHUGHP7DOGlPPHUWHHV'HU7DOERGHQZDUYRP 0RUJHQQHEHOEHGHFNW$XVGHPZHLOLFKHQ6FKOHLHUTXROOHVLQIHWWHP6FKZDU]KHUYRU1RFK LPPHUNQLVWHUWHGLH*OXWLP*HElONGHU+WWHQ (VZDUVWLOOJHZRUGHQ1XUGDV6WUHLFKHQGHV:LQGHVZDU]XK|UHQXQGGLH$WHP]JHGHU )OFKWHQGHQGLHVLFKJHJHQHLQDQGHUGUlQJWHQXPVLFKYRUGHU0RUJHQNKOH]XVFKW]HQ .DPHHZDUIHLQHQ%OLFN]XUFN 9RQHLQHP:HJNRQQWHEHUKDXSWNHLQH5HGHVHLQ'HU3IDGGHQ&DYXVVLHKLQDXIJHIKUW KDWWHZDUQLFKWPHKUDOVHLQ]HQWLPHWHUEUHLWHV%DQGLP)HOVJHUDGH]XHUNHQQHQ.DPHH ZXUGHQRFKQDFKWUlJOLFKIDVWEHOYRU$QJVW :HLWHUGUlQJWH&DYXV:LUN|QQHQKLHUQLFKWEOHLEHQ)UKHURGHUVSlWHUZUGHQVLHXQV ILQGHQ 5HJLQDOG%XOOVSlKWHKLQDELQGLH7LHIH.DPHHNRQQWHVHKHQGDLKPGHU$QEOLFNEHUKDXSW QLFKWJHILHO 8QGZRKLQIOLHKHQZLU" :HLWHUKLQHLQLQV*HELUJHVFKOXJ&DYXVYRU'RUWZHUGHQVLHXQVQLFKWILQGHQMHGHQIDOOV QLFKWLQQHUKDOEGHUQlFKVWHQ7DJH .DPHHYHUVXFKWHVLFKYRU]XVWHOOHQZLHODQJHVLHHVXQWHUGLHVHQ8PVWlQGHQDXVKDOWHQZUGH PLWSULPLWLYHQ+LOIVPLWWHOQLP*HELUJH]XEHUOHEHQXQGDXIGDVUHWWHQGH6FKLII]XZDUWHQ .|QQHQZLUQLFKWYHUVXFKHQXQVHU6FKLII]XHUUHLFKHQ"IUDJWH.DPHHGLHVLFKQDFK VDXEHUHU.OHLGXQJXQGHLQHPKDOEVWQGLJHQ'XVFKEDGVHKQWH &DYXVVFKWWHOWHGHQ.RSI $XVJHVFKORVVHQZLGHUVSUDFKHU*HQDXGDZHUGHQVLHDXIXQVZDUWHQ6LHZLVVHQLPPHU VHKUJHQDXZRHLQHUYRQXQVVWHFNWQXULP*HELUJHGDKDEHQVLH6FKZLHULJNHLWHQ VRGDQQLQGLH%HUJHVDJWH5HJLQDOG%XOO(UZDUIHLQHQ%OLFNDXIGLH/DQGVFKDIWULQJVXP (VZLUGYLHO6SDPDFKHQ &DYXVIKUWHGHQ7UXSSDQ'HU:HJZXUGHIDVWQRFKXQKHLPOLFKHUDOVLQGHU1DFKW.DPHH KDWWHVHKUYLHO0KHDXINRPPHQGH6FKZLQGHOJHIKOHQLHGHU]XNlPSIHQIDVWLPPHUIHKOWH
QXUHLQ6FKULWWXPVLHLQV/HHUHVWU]HQ]XODVVHQXQGDQGHQPHLVWHQ6WHOOHQJLQJHVKXQGHUW 0HWHUXQGPHKULQGLH7LHIH 9RUVLFKWVKDOEHUVDK.DPHHQLFKWKLQDE6LHVDKGHQ)HOVDQDQGHPVLHVLFKIHVWKLHOWXQG VHW]WHHLQHQ)XYRUGHQDQGHUHQ&DYXVJDEVLFK0KHGLH*HVFKZLQGLJNHLWVHLQHQ *HIlKUWHQDQ]XSDVVHQ(VZDUDEHUGHXWOLFK]XHUNHQQHQGDGLH7HUUDQHUYRQ6KDNRRWHHVLFK LQGLHVHP*HOlQGHHUKHEOLFKEHVVHUDXVNDQQWHQ6LHEHZHJWHQVLFKUXKLJHUXQG XQYHUNUDPSIWHU 1DFKHLQHUKDOEHQ6WXQGHHLIULJHQ.OHWWHUQVZDUGDV7DODXHU6LFKWZHLWH1XUHLQHGQQH 6lXOHVFKZDU]HQ5DXFKHVGHXWHWHDQGDHVGRUWHLQPDOHLQHPHQVFKOLFKH6LHGOXQJJHJHEHQ KDWWH :DVZHUGHQGLH6KDNRRWHHVPLWHXUHQ)UHXQGHQJHPDFKWKDEHQ"IUDJWH.DPHHLKUHQ 9HUZDQGWHQ&DYXVPDFKWHHLQJULPPLJHV*HVLFKW :HQQVLHVLHQLFKWWRWJHVFKODJHQKDEHQGDQQZHUGHQVLHIUKHURGHUVSlWHUHEHQIDOOV]X 6KDNRRWHHVJHPDFKW]X6NODYHQGLHVHVYHUIOXFKWHQ.UDXWHV6HKWLKUGRUWYRUQZlFKVWDXFK VRHLQH%OXPH(VJLEWVLHEHUDOOVRJDULP*HELUJH $EHUZHQQVLHDXIJDQ]QRUPDOHP%RGHQZDFKVHQN|QQHQZR]XEHUQHKPHQVLHGDQQ 0HQVFKHQ" &DYXV]XFNWHPLWGHQ6FKXOWHUQ :DVZHLLFK"VDJWHHU,FKNHQQHPLFKGDQLFKWDXV,FKZHLQXUGDHVGLHVHV.UDXW EHUDOODXIGHP3ODQHWHQJLEWXQGGDHVGLH0HQVFKHQ]X6NODYHQPDFKW .DPHHKLHOWHVIUUDWVDPGHQMXQJHQ0DQQQLFKWZHLWHUPLW)UDJHQ]XEHKHOOLJHQ'HU:HJ HUIRUGHUWHRKQHKLQGLH$QVSDQQXQJDOOHUN|USHUOLFKHQXQGJHLVWLJHQ.UlIWH9RQHLQHP UHJHOUHFKWHQ:HJNRQQWHDXFKMHW]WNHLQH5HGHVHLQ.DPHHNRQQWHQXUHLQHVWXQDOOHV JHWUHXOLFKQDFKDKPHQZDV&DYXVLKUYRUPDFKWH,KUNDPMHW]WNDXP]XP%HZXWVHLQGD MHGHU)HKOWULWWLKUHQ7RGEHGHXWHQNRQQWHVRVHKUEHVFKlIWLJWZDUVLHPLWGHU.OHWWHUHL /DQJVDPQlKHUWHVLFKGLH*UXSSHGHP*LSIHOGHV%HUJHV1RFKHLQH%LHJXQJZDU ]XUFN]XOHJHQ .DPHHVFKORGLH$XJHQDOVVLHGLH0lQQHUVDK6FKZlFKHEHUNDPVLHVLHEUDFKLQGLH .QLH 'LH0KHQXQG6WUDSD]HQZDUHQYHUJHEHQVJHZHVHQ'DVWDQGHQVLHGLH6KDNRRWHHVGLH %|JHQJHVSDQQWGLH6SHHUHJHIlOOW'LH)OFKWLJHQZDUHQHUZDUWHWZRUGHQ GHU9HUUlWHUZHULPPHUHVDXFKZDUKDWWHJXWH$UEHLWJHOHLVWHW (UJHEWHXFKULHIGHU$QIKUHUGHU6KDNRRWHHV$OVHUGDV9LVLHU|IIQHWHHUNDQQWH.DPHH GHQ+RKHQ7DDPDUYRQ0DFKOLNL7LNND 'DV6SLHOZDUDXVXQGYHUORUHQ'LH)OFKWOLQJHKREHQGLH+lQGH
'HU+RKH7DDPDUUXQ]HOWHlUJHUOLFKGLH6WLUQ ,FKZHUGHQLHPDQGHQ]ZLQJHQVDJWHHUVFKDUIXQGGHP'ROPHWVFKHUJHODQJHVYRUWUHIIOLFK GLHVHQ7RQIDOOQDFK]XDKPHQ,FKELQJHGXOGLJJHZHVHQDEHUDXFKPHLQH*HGXOGLVW HUVFK|SIEDU,FKIUDJHHXFKQRFKHLQPDOZROOWLKUHXFKXQWHUZHUIHQ" 1HLQ³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|QLJVDKGHQ*UHLVGVWHUDQ
'DQQKREHUGHQ%OLFNXQGPXVWHUWHGLH6FKDUVHLQHU*HIDQJHQHQ.DPHHVWDQGLQGHU ]ZHLWHQ5HLKHYRULKUVWDQG5HJLQDOG%XOO'LH*HIDQJHQHQZDUHQDXVQDKPVORVJHIHVVHOWQXU GLHNOHLQHQ.LQGHUZDUHQQLFKWDQGHQ+lQGHQJHEXQGHQ %ULQJWGLH6KDNRRWHHVKHUDQEHVWLPPWH&DFKXPEDU:HUVLFKXQWHUZHUIHQZLOOKDWMHW]W =HLWGD]X 1LHPDQGLQGHU6FKDUGHU7HUUDQHUUKUWHVLFK'DV*HVLFKWGHV+RKHQ7DDPDUVEHNDPHLQHQ $XVGUXFNGHU9HU]ZHLIOXQJGHQ.DPHHEHLPEHVWHQ:LOOHQQLFKWYHUVWHKHQNRQQWH 8QWHUZHUIWHXFKVDJWHGHU+RKH7DDPDUXQG.DPHHHUVFKLHQHVDOVIOHKHHUVHLQH *HIDQJHQHQI|UPOLFKDQ(VN|QQWHHXHU7RGVHLQZHQQLKUHXFKVSHUUW 1RFKLPPHUPHOGHWHVLFKNHLQhEHUOlXIHU.DPHHZDUIHLQHQ%OLFNDXIGLHEOXWURWHQ:XU]HOQ GHU6KDNRRWHHVXQGVLHVFKDXGHUWHEHLGHP*HGDQNHQLKU/HEHQPLWGLHVHUIUFKWHUOLFKHQ 3IODQ]HWHLOHQ]XPVVHQ'HU+RKH7DDPDUVWDQGDXI(UZLQNWHVHLQH5DWJHEHUKHUDQ :lKUHQGGHVVHQZDUDP5DQGHGHV3ODW]HVKDVWLJHLQ$OWDUDXIJHEDXWZRUGHQ(UEHVWDQGDXV HLQHP8QWHUJHVWHOODXV0HWDOOPLWHLQHUJURHQ6FKDOHLQGHUHLQ+RO]NRKOHQIHXHUJORPP 'DUEHUVFKLPPHUWHHLQHJURHJROGHQH6RQQHQVFKHLEHRIIHQEDUZDUHQ6RQQHQUHOLJLRQHQ EHUDOOLP.RVPRVEHNDQQWGDFKWH.DPHH 'HU+RKH7DDPDUXQGGLH5DWJHEHUVFKDUWHQVLFKXPGHQ$OWDU&DFKXPEDUQDKPDXVHLQHP OHGHUQHQ6lFNFKHQHLQH+DQGYROO.UlXWHUKHUDXVXQGZDUIVLHDXIGLH*OXW 5DXFKZDOOWHDXIXQGGLH9HUVDPPOXQJEHXJWHVLFKEHUGDVJOLPPHQGH)HXHUXQGVRJGHQ 5DXFKGHUYHUEUHQQHQGHQ.UlXWHUWLHIHLQ.DPHHNRQQWHVHKHQZLH&DFKXPEDUXQGVHLQH 5DWJHEHUDPJDQ]HQ/HLE]X]LWWHUQEHJDQQHQ9RQGHP)HXHUZHKWHHLQVWDUNHU*HUXFK KHUEHU(UHULQQHUWHDQEUHQQHQGHV+DU]XQGOLHLQ.DPHHVRIRUWGHQ9HUGDFKWDXINRPPHQ GDHVVLFKEHLGHP)HXHURSIHUXPHLQ5DXVFKJLIW]HUHPRQLHOOKDQGHOWH .DPHHNRQQWHVHKHQZLHGHU.|USHUGHV7DDPDUVLPPHUPHKULQV=XFNHQJHULHW'LH%OWH DP.RSIGHV6WDGWN|QLJV|IIQHWHXQGVFKORVLFKLQLPPHUNU]HUZHUGHQGHQ$EVWlQGHQ .DPHH]LWWHUWHDPJDQ]HQ/HLE:DV&DFKXPEDUGRUWHULQQHUWHDQ%HVFKZ|UXQJHQZLHVLHLQ DOWHQ%FKHUQGHU(UGHJHVFKLOGHUWZXUGHQ'DV*UDXHQJULIIQDFKGHUMXQJHQ)UDX:DV ZXUGHKLHUJHVSLHOW"(VJDENHLQH+H[HQNHLQH'VFKLQQVXQG7UROOH(VJDE3RVLWURQHQXQG GHQ/LQHDUUDXPJHZLVFKZHUHUIDEDUH'LQJHDEHUGHQQRFKHUIDEDUIUGHQ9HUVWDQG:DV VLFKYRU.DPHHV$XJHQDEHUDEVSLHOWHJHK|UWHLQHLQHQ%HUHLFKGHUGHPORJLVFK QDWXUZLVVHQVFKDIWOLFKHQ'HQNHQQLFKW]XJlQJOLFKZDU ,PPHUVWlUNHUZXUGHQGLH=XFNXQJHQGHV6WDGWN|QLJV(VZDU0LWWDJMHGHUNRQQWHGHQ 9RUJDQJYHUIROJHQXQG.DPHHZXQGHUWHVLFKGDGLH6KDNRRWHHVGDVHQWVHW]OLFKH 6FKDXVSLHOVRJOHLFKPWLJKLQQDKPHQ*LQJVLHGDVQLFKWVDQ"2GHUZDUHQLKQHQVROFKH%H VFKZ|UXQJHQOlQJVWEHNDQQW"'LH%HZRKQHUGHV3ODQHWHQPDFKWHQDXI.DPHHQLFKWGHQ (LQGUXFNDOVKlWWHQVLHNHLQHQDXVJHSUlJWHQ5HDOLWlWVVLQQ:DUXPVLHDQGLHVHQ+RNXVSRNXV JODXEWHQZDUPHKUDOVUlWVHOKDIW&DFKXPEDUGUHKWHVLFKKHUXP6HLQ*HVLFKWZDUYRQ ZlFKVHUQHU%OlVVH(UVFKZDQNWH .DPHHVDKGD7UlQHQEHUGDV*HVLFKWGHV+HUUVFKHUVYRQ0DFKOLNL7LNNDOLHIHQ /HLVHDEHUGHXWOLFKYHUQHKPEDUVDJWH&DFKXPEDU+RKHU7DDPDUYRQ0DFKOLNL7LNND 'HU*HLVWGHUDOOHVGXUFKGULQJWPLWVHLQHP:LOOHQKDWJHVSURFKHQ,FKKDEHLKQXP*QDGH DQJHIOHKW +XPEXJVFKULH(TUHP+H[HQVSXNXQG=DXEHUHL .DPHHVDKZLH5HJLQDOG%XOOQHEHQGHQDOWHQ0DQQWUDWXQGLKQDQ]LVFKWH:DV%XOO\VDJWH ZDUIU.DPHHQLFKWK|UEDUDEHUVLHQDKPDQGDHVHLQH(UPDKQXQJZDU ,FKKDEHIUHXFKJHEHWHQVDJWHGHU6WDGWN|QLJPLWWUlQHQHUVWLFNWHU6WLPPH$EHUHUGHU EHUDOOHPZDFKWXQGXQVDOOHOHQNWHUKDWYHUNQGHWGDLKUVWHUEHQPW-HGHUYRQHXFK RKQH$XVQDKPH &DFKXPEDUVFKZDQNWHKHIWLJHU .DPHHWUDXWHLKUHQ2KUHQQLFKW:DVKDWWHGDV]XEHGHXWHQ"6SLHOWHGLHVHU0DQQHLQ WHXIOLVFKHV6SLHOPLWGHQ*HIDQJHQHQ"0DFKWHHUDXVGHU9HUNQGXQJGHV7RGHVXUWHLOVHLQH
6FKPLHUHQNRP|GLHPLWLKPDOV+DXSWGDUVWHOOHU RGHUZDVZDUGHU6LQQGLHVHU$NWLRQHQ"(U VFKZDQNWHXQGZHLQWHDEHUHUYHUNQGHWHHLQ7RGHVXUWHLOIU'XW]HQGHYRQ0HQVFKHQ (VZLUGHXFKGHQQRFKHLQH&KDQFHJHJHEHQVDJWH&DFKXPEDU,KUVROOWGHQ:HJJHKHQ GHQLFKHXFKEHUHLWVEHVWLPPWKDWWH(VLVWEHVFKORVVHQGDGLH.LQGHUGHV+LPPHOVGLHVHQ :HJJHKHQZHUGHQ 'DPLWVLQGZLUJHPHLQWPXUPHOWH
'LHVPDOZLUGXQVQLHPDQGKHOIHQVDJWH.DPHHOHLVH6LHULWWHQQHEHQHLQDQGHUKLQWHULKQHQ HLQHNOHLQH6FKDU6KDNRRWHHV(VZDUQLFKWQ|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lQ]WHQYRQ6FKQHH ,PPHUZLHGHUVDK.DPHHKLQDXI]XP+LPPHO =XMHGHU6WXQGHNRQQWHGDV6FKLIINRPPHXQGGLH5HWWXQJEULQJHQ(VKLQJGDYRQDE]X ZHOFKHU6WXQGHPDQVLFK6RUJHQPDFKHQZUGHXP5HJLQDOG%XOOXQG.DPHHOHEWHVHLW 7DJHQPLWGHU$QJVWGDPDQDXI7HUUDHQWVFKLHGHQ]XYLHO=XWUDXHQ]X5HJLQDOG%XOOKDEHQ ZUGH6LHNDQQWHGHQ5XIGHVVWlPPLJHQ6WDDWVPDUVFKDOOVGHUDOVDXVJHPDFKWHU 7DXVHQGVDVVDJDOWGHUVHLQHQ:HJLPPHU]XILQGHQZXWH:HQQLQGHU*DOD[LVQLFKWV JHVFKDKZDV%XOO\V$QZHVHQKHLWHUIRUGHUOLFKPDFKWHGDQQNRQQWHQHQWVFKLHGHQPHKUDOV ]HKQ7DJHYHUVWUHLFKHQELVGDV6FKLIIYRQ7HUUDEHUGHP3ODQHWHQHUVFKLHQ 6WDUUHQLFKWGDXHUQGDXIGHQ+LPPHOVDJWH
QLFKWEHIROJW&DYXVEHVDGLHQDWUOLFKH$XWRULWlWHLQHV0DQQHVGHUDXIGLHVHP*HELHWJDQ] HLQIDFKZHVHQWOLFKEHVVHU%HVFKHLGZXWHDOVVHLQH%HJOHLWHU'DZDUHVQXUQDWUOLFKZHQQ HUGLH(QWVFKHLGXQJHQWUDIXQGDXFKGXUFKVHW]WH .DPHHOXGVLFKHLQHQ/HLQHQVDFNDXIGLH6FKXOWHUQGHUKDXSWVlFKOLFK%URWXQGJHWURFNQHWHV )OHLVFKHQWKLHOW'LH6KDNRRWHHVGDFKWHQQLFKWGDUDQGHQ7HUUDQHUQ]XKHOIHQ(LQ7HLOEOLHE LQGHQ6lWWHOQVLW]HQGHUDQGHUH7HLOVDK]XZLH.DPHHXQGGLHDQGHUHQGHP)KUHUIROJWHQ XQGVFKORVVHQVLFKGDQQDQ 'HU$QIKUHUGHU6KDNRRWHHVVWLHJHLQH7UHSSHKLQDXI6LHZDUVRSHUIHNWLQGLH)HOVZDQG KLQHLQJHKDXHQZRUGHQGDPDQVLHSUDNWLVFKHUVWVDKZHQQPDQXQPLWWHOEDUYRUGHU )HOVZDQGVWDQG .DPHHQDKPGLH6WXIHQXQWHUGLH)H6LHDKQWHGDHVHLQODQJHU0DUVFKZHUGHQZUGH 'LH7UHSSHZDUSDUDOOHO]XU:DQGDQJHOHJWXQGKUWHVWHLOLQGLH+|KH6REDOGVLHGLH )HOVZDQGHLQPDOGHU%UHLWHQDFKGXUFKODXIHQKDWWHZHFKVHOWHVLHXQGIKUWHQXQLQGHU *HJHQULFKWXQJQDFKREHQ .DPHHVDKQLFKWQDFKXQWHQ/LQNVYRQLKUUDJWHGHU)HOVLQGLH+|KHXQGHVJDEQLUJHQGZR HLQHQ+DOWIUGLH+l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lPSIWHQGLHEHLGHQ*UXSSHQVLFKVRVHKU" 0LWhEHUOHJXQJHQGLHOHW]WHQ(QGHVQLFKWGDVJHULQJVWHHLQEUDFKWHQEHVFKlIWLJWHVLFK .DPHHZlKUHQGVLHLPPHUK|KHUXQGK|KHUDQGHU)HOVZDQGKLQDXINOHWWHUWH6LHYHUVXFKWH VLFKDXFKGLH0HQVFKHQYRU]XVWHOOHQGLHGLHVHOHEHQVJHIlKUOLFKH7UHSSHJHEDXWKDWWHQDXFK ZHQQVLHGHQ6LQQGLHVHU$QODJHEHUKDXSWQLFKWEHJULII $OVVLHQDFK6WXQGHQHQGOLFKGLHOHW]WH6WXIHDEVROYLHUWKDWWHZDUVLHGHP=XVDPPHQEUXFK QDKH6LHOLHGHQ6DFNDXIGHQ%RGHQIDOOHQXQGVHW]WHVLFKGDUDXI,KUH%HLQH]LWWHUWHQLKU $WHPJLQJSIHLIHQGXQGYRULKUHQ$XJHQVFKLHQHQDOOH*HJHQVWlQGHHLQHQDEVRQGHUOLFKHQ 6FKDXNHOWDQ]DXI]XIKUHQ 1XUYHUVFKZRPPHQVDKVLHGHQ7HPSHOLP$EHQGOLFKWVWHKHQ'HU=XIDOOZROOWHHVGDGLH 6RQQHJHQDXKLQWHUGHP%DXZHUNXQWHU]XJHKHQVFKLHQ,KUH6WUDKOHQXPJDEHQGHQ%DXPLW HLQHP.UDQ]DXVJOHLHQGHP*ROG'HU7HPSHOVHOEVWZDUQXUDOV6LOKRXHWWH]XHUNHQQHQ .DPHHVWDQGDXIXQGOHJWHGLH+DQGEHUGLH$XJHQ6LHNRQQWHHLQSDDU(LQ]HOKHLWHQ HUNHQQHQ6lXOHQHLQ.XSSHOGDFK'HU7HPSHONRQQWHUHFKWJURVHLQHUZDUHLQLJH .LORPHWHUHQWIHUQWXQGVWDQGDXIHLQHU+RFKHEHQHGLHVRJODWWZDUZLHGLH)HOVZDQGGLH.D PHHJHUDGHKHUDXIJHNOHWWHUWZDUZLHPLWGHP0HVVHUJHVFKQLWWHQGDFKWHVLHXQZLOONUOLFK :DVLVWGDV"IUDJWHVLH 'LH$QWZRUWGHV6KDNRRWHHVZDUXQYHUVWlQGOLFKDEHULQGHUNQDSSHQ(UNOlUXQJNDPGDV :RUW6KDNRRWHHYRUYHUPXWOLFKHLQ7HPSHOIUGLH%OXPHRGHUGHQ3ODQHWHQRGHUGDV9RON .DPHHDKQWHGDGLHVHV%DXZHUNGDV=LHOGHU5HLVHZDU 'HU6WHLQDXVGHPGHU7HPSHOHUEDXWZRUGHQZDUVFKLHQYRQLQQHQKHUDXV]XJOKHQ DQVRQVWHQZLUNWHHUSHFKVFKZDU]'DVJDEGHP*HElXGHHLQHQXQKHLPOLFKHQEHlQJVWLJHQGHQ $QVWULFK *HKHQZLUKHXWHDEHQGQRFKKLQEHU"IUDJWH.DPHH$XIGHUHLQHQ6HLWHKDWWHVLHNHLQH /XVWDXFKQXUHLQHQ6FKULWW]XJHKHQDXIGHUDQGHUHQ6HLWH]RJVLHGDVUlWVHOKDIWH%DXZHUN ZLHPDJQHWLVFKDQ
(UVDJWPDQNlPHQXUEHL0RQGVFKHLQKLQHLQVDJWH&DYXVXQGEHUVHW]WHVRGLH %HPHUNXQJGHV6KDNRRWHHV'LH*HIlKUWHQGHV6ROGDWHQVWDQGHQDXIGHP3ODWHDXXQG ZDUWHWHQELVVLFKGLH7HUUDQHUYRQGHQ$QVWUHQJXQJHQGHV$XIVWLHJVHUKROWKDWWHQ'DQQ EHGHXWHWHQVLHLKQHQPLWNQDSSHQ*HVWHQGDGHU0DUVFKIRUWJHVHW]WZHUGHQVROOWH 6HXI]HQGZDUIVLFK.DPHHZLHGHUGHQ/HEHQVPLWWHOVDFNEHUGLH6FKXOWHU'LH6DFKHQ VFKLHQHQXQWHUZHJVVHKUYLHO:DVVHUJH]RJHQ]XKDEHQVLHIKOWHQVLFKGUHLPDOVRVFKZHUDQ ZLHLQGHQHUVWHQ0LQXWHQDEHU.DPHHZXWHGDGDVQXUHLQH7lXVFKXQJZDU :lKUHQGGLH6RQQHODQJVDPYHUVDQNPDUVFKLHUWHQGLH7HUUDQHUXQGLKUH:lFKWHUDXIGHQ 7HPSHO]X,P1lKHUNRPPHQZDU]XVHKHQGDGLH6lXOHQWDWVlFKOLFKDXVHLQHP VFKZlU]OLFKHQ*HVWHLQEHVWDQGHQGDVYRQLQQHQJHOEOLFKJOKWHHLQ$QEOLFNGHUIXUFKWVD PHQ*HPWHUQOHLFKW$OSGUFNHQEHUHLWHQNRQQWH (UVWDXQOLFKZDUYRUDOOHPZLHXQJODXEOLFKJODWWXQGHEHQGHU%RGHQZDU$OVKlWWHQ +XQGHUWWDXVHQGHLKQJODWWJHVFKOLIIHQVRZLUNWHGHU)HOV)DVWJODXEWH.DPHHGLH6SXUHQGHU 6FKOHLIDUEHLWHQVHKHQ]XN|QQHQGDQQDEHUVFKDOWVLHVLFKVHOEVWHLQH1lUULQLQGHPXQ VLFKHUHQ/LFKWZDUHQRKQHKLQNHLQHULFKWLJHQRSWLVFKHQ,QIRUPDWLRQHQ]XJHZLQQHQ 'HU7HPSHOVFKLHQOLFKWMDKUHZHLWHQWIHUQW]XVHLQ0LWMHGHP6FKULWWZXUGHGHU6DFNVFKZHUHU XQGVFKZHUHUXQGGLH6KDNRRWHHVNDPHQQLFKWDXIGLH,GHHVLFKZLH.DYDOLHUH]XEHWUDJHQ XQG.DPHHZHQLJVWHQVHLQHQ7HLOLKUHU/DVWDE]XQHKPHQ $XIKDOEHP:HJOHJWHGLH*UXSSHQRFKHLQPDOHLQH3DXVHHLQ(VZDULQ]ZLVFKHQGXQNHO JHZRUGHQGHU0RQGNURFKODQJVDPDP+LPPHOHPSRU.DPHHZXQGHUWHVLFKGDUEHUGD GLH6KDNRRWHHVNHLQHUOHL3URWHVWHUKHEHQDOVGLH7HUUDQHUVLFKSO|W]OLFKDXIGHP%RGHQ QLHGHUOLHHQXQGHUVWHLQPDOGLH%HLQHDXVVWUHFNWHQ.DPHHVDKPLW%HIULHGLJXQJ]XZLHJXW GDV7URFNHQIOHLVFKXQGGLHGQQHQ%URWHLKUHQ)UHXQGHQVFKPHFNWHQLPPHUKLQEHGHXWHWH MHGHU%LVVHQGHQGLHDQGHUHQYHU]HKUWHQGDVLHHQWVSUHFKHQGZHQLJHU]XVFKOHSSHQKDWWH 'DQDFKJLQJHVZHLWHU 'HU0RQGVWDQGKRFKDP1DFKWKLPPHODOVGDV*HElXGHHQGOLFKHUUHLFKWZDU(LQNUHLVUXQGHU 7HPSHOHWZDHLQKXQGHUW0HWHUGXUFKPHVVHQGGLH6SLW]HGHU.XSSHOPRFKWHGUHLLJ0HWHULQ GLH+|KHUDJHQ(LQGRSSHOWHU.UDQ]YRQ6lXOHQXPJDEGHQGVWHUHQ%DX1LFKWVUKUWHVLFK (VJDENHLQHQ%DXPHVJDENHLQHQ6WUDXFKLQGHU1lKHXQGGDVVRQVWLPPHUK|UEDUH *HUlXVFKHPVLJHU,QVHNWHQZDULQGHU1lKHGHV7HPSHOVYHUVWXPPW(VVFKLHQDOVKDOWHKLHU DOOHVGHQ$WHPDQ .DPHHVDKLKUHQ1DFKEDUQDQHLQHQGHU6KDNRRWHH V'LH%OWHGHV0DQQHVZDUJHVFKORVVHQ .DPHHILHOLQGLHVHP$XJHQEOLFNDXIGDLP'XQNHOGLH%OWHQXQGGHU7HPSHOVWDUNH bKQOLFKNHLWKDWWHQEHLGHZDUHQGXQNHOXQGOHXFKWHWHQYRQLQQHQKHUDXV 'HU6KDNRRWHHVWUHFNWHGLH+DQGDXV:DVHUVDJWHEOLHE.DPHHXQYHUVWlQGOLFKDEHUVLH YHUVWDQGGHQ6LQQ'LH7HUUDQHUVROOWHQGHQ7HPSHOEHWUHWHQ .DPHHVFKOXFNWH6LHHULQQHUWHVLFKGDUDQGDGLHVHLQH5HLVHRKQH:LHGHUNHKUZDU:DUHV MHW]WVRZHLW" 6LHEOLHEZLHYHUVWHLQHUWVWHKHQDOVGHU6KDNRRWHHQHEHQLKUSO|W]OLFKGLH+lQGHDXVVWUHFNWH LKU*HVLFKWLQEHLGH+lQGHQDKPXQGLKUVDQIWGLH6WLUQNWH1RFKZlKUHQGVLHGLH$XJHQ ZHLWDXIULKXVFKWHGHU6ROGDWGDYRQXQGYHUVFKZDQGLP'XQNHOGHU1DFKW .DPHHYHUVWDQGQXQJDUQLFKWVPHKU6LHEHNDPLQGDV9HUKDOWHQGHU6KDNRRWHHVNHLQHUOHL /RJLNKLQHLQLQWHUSUHWLHUW:DVGLHVHVHOWVDPHQ/HXWHWDWHQZDURIIHQNXQGLJLQVLHKVHOEVW ZLGHUVSUFKOLFK 'HQQHLQHVZDU.DPHHLQGHP%UXFKWHLOHLQHU6HNXQGHNODUJHZRUGHQGLH6KDNRRWHHV KDWHQGLH7HUUDQHUQLFKW0RFKWHQVLHDXFKVlPWOLFKH7HUUDQHUGHV3ODQHWHQ]XP7RGH YHUGDPPWKDEHQVLHKDWHQVLHQLFKW'DVNODQJVHOWVDPYLHOOHLFKWYHUUFNWDEHUHVVWLPPWH :RUDXIZDUWHQZLU"IUDJWH.DPHH,QHLQHUKHLHQ:HOOHVWLHJGLH$QJVWLQLKUDXI %ULQJHQZLUHVKLQWHUXQV ,P0RQGOLFKWNRQQWHVLHVHKHQZLH&DYXVVLHDQVDK(UOlFKHOWH 7RGHVPXWLJ"
.DPHH]XFNWHPLWGHQ6FKXOWHUQ6LHKDWWH$QJVWGDVVWDQGDXHU=ZHLIHO$EHUVLHZDU DXFKELV]XP%HUVWHQJHIOOWPLW1HXJLHUGH6LHZROOWHZLVVHQZDVHVPLWGHP7HPSHODXI VLFKKDWWHPLWGHQ6KDNRRWHHVVHOEVWZHQQVLHGDV/IWHQGLHVHV*HKHLPQLVVHVLQDNXWH /HEHQVJHIDKUEUDFKWH $OVR"³ .DPHHXQWHUGUFNWHHLQ/lFKHOQ'DDXVJHUHFKQHWVLHHVZDUGLHHLQHVROFKH(QWVFKHLGXQJ YRUDQWULHEYRU:RFKHQKlWWHVLHGHUJOHLFKHQIUDXVJHVFKORVVHQJHKDOWHQ .DPHHPDFKWHGLHHQWVFKHLGHQGHQ6FKULWWH6LHWUDWGLHYLHU6WXIHQKLQDXIGXUFKTXHUWHGLH 6lXOHQUHLKHXQGWUDWLQGDV,QQHUHGHVUXQGHQ7HPSHOV 9RQREHQVWUDKOWHZHLFKHV0RQGOLFKWDXIVLHKHUDE$XIJHKHLPQLVYROOH:HLVHZXUGHGDV /LFKWGHV0RQGHVYRQGHUVFKZDU]HQ.XSSHOJHVDPPHOWXQGYHUVWlUNW$XFKGDV/LFKWGHU 6lXOHQUHLKHQILHOKDXSWVlFKOLFKLQGHQ,QQHQUDXP 'HU5DXPZDUOHHU 1LFKWVVDJWH6KDNWDUHQWWlXVFKW$OOHVOHHU *DQ]EHVRQGHUVOHHUVWHOOWH&DYXVIHVW(VJLEWQlPOLFKHLQ/RFKLP%RGHQHLQUHFKW JURHVVRJDU 7DWVlFKOLFKHQWGHFNWH.DPHHLQGLHVHP$XJHQEOLFNGDGDVZDVVLHIUHLQ0RVDLNJHKDOWHQ KDWWHLQ:LUNOLFKNHLWHLQ6FKDFKWZDUGHUVHQNUHFKWLQGHQ%RGHQKLQHLQIKUWH$XVGHP +RKOUDXPZXUGHLQ]DKOUHLFKHQ5HIOH[HQ/LFKW]XUFNJHZRUIHQLQHLQHP0XVWHUGDV .DPHHDQHLQ0RVDLNHULQQHUWKDWWH ,FKJHKHHLQH:HWWHHLQVDJWH6KDNWDUWURFNHQ'RUWJLEWHVHLQH7UHSSHGLHLQGHQ%RGHQ KLQHLQIKUW 6HKUYRUVLFKWLJWUDWHUQlKHUDQGDV/RFKKHUDQ(VPDGUHLLJ0HWHULP'XUFKPHVVHU 6KDNWDUQLFNWH 5HFKWEHKDOWHQVDJWHHU(VJLEWHLQH7UHSSHGLHKLQDEIKUW .DPHHWUDWVHKUEHKXWVDPQlKHU6LHIUFKWHWHGHU%RGHQN|QQWHJODWWVHLQXQGZHQQVLH HLQPDODXVUXWVFKWH6LHPDOWHGDV%LOGQLFKWELV]X(QGH 'DV/RFKIKUWHWLHIKLQDELQGHQ8QWHUJUXQG$XIIlOOLJZDUHQGLHJHUDGHQORWUHFKWHQ:lQGH .ULVWDOOHVDHQLQGHQ:lQGHQXQGVFKXIHQGLHYHUZLUUHQGHQ5HIOH[H'HXWOLFK]XHUNHQQHQ ZDUHQDXFKGLH6WXIHQGHUJHZHQGHOWHQ7UHSSH :DUWHQKDWNHLQHQ6LQQVDJWH&DYXV)ROJWPLU 'LHREHUVWH6WXIHZDUEDOGJHIXQGHQ.DPHHVFKULWWXQPLWWHOEDUKLQWHU&DYXVKLQDE'LH :lQGHZDUHQNDOWXQGJODWWVLHZLUNWHQZLHSROLHUW6RJDUGLHJOLW]HUQGHQ.ULVWDOOHZDUHQ Y|OOLJLQGLHJODWWH2EHUIOlFKHHLQJHEHWWHW $XVGHU7LHIHNODQJGHQ7HUUDQHUQHLQOHLVHU7RQHQWJHJHQHLQIHUQHV%UDXVHQ :DVVHU"UlWVHOWH.DPHH :LUZHUGHQHVHUOHEHQYHUVHW]WH6KDNWDU 6LHWUXJHQNHLQH)DFNHOQ'DVVDQIWHEOHLFKH/LFKWGDVDXVGHU.XSSHOVWUDKOWHHUKHOOWHGHQ :HJVRWLHIKLQDEHUDXFKIKUWH=ZDUVFKLHQGHU6FKDFKWHQGORVDEHUGRUWZR.DPHH VWDQGJDEHVLPPHUJHQJHQG/LFKWMHGH6WXIHHUNHQQHQ]XODVVHQ 6HOWVDPZDUGDREHUKDOEGHVMHZHLOLJHQ6WDQGRUWVGDV*OLW]HUOLFKWGHU.ULVWDOOHYHUVFKZDQG 1XUGHU*ODQ]GHU.XSSHOEOLHE(UZXUGHDEHUDOOPlKOLFKNOHLQHUXQGQDFKHLQHU6WXQGH DQJHVWUHQJWHQ.OHWWHUQVVDKGLH.XSSHODXVZLHHLQEHVRQGHUVKHOOHUJOHLFKPlLJVFKHLQHQGHU 6WHUQ +LHUJHKWHVVHKUJHKHLPQLVYROO]X PXUPHOWH
(LQHUQDFKGHPDQGHUHQVDKDQGHU7UHSSHHQWODQJLQGLH7LHIH(VJDENHLQ(QGH]XVHKHQ 'DV*HUlXVFKZDUODXWHUJHZRUGHQ :DUWHWXQGVHLGVHKUOHLVHEHVWLPPWH&DYXV(UKROWHDXVVHLQHU7UDJODVWHLQ6WFN)OHLVFK KHUYRUKLHOWHVEHUGHQ5DQGGHU7UHSSHKLQDXVXQGOLHHVIDOOHQ.DPHHKLHOWGHQ$WHPDQ 6HNXQGHQODQJZDUQLFKWV]XK|UHQGDQQJDEHVHLQNDXPK|UEDUHV*HUlXVFKXQGZHQLJ VSlWHUYHUVWlUNWHVLFKGDV%UDXVHQ ,P6FKHLQGHV.XSSHOOLFKWVVDK.DPHHGD6KDNWDU]XIULHGHQJULQVWH2IIHQEDUZDUGDV ([SHULPHQW]XVHLQHU=XIULHGHQKHLWDXVJHIDOOHQ $OVRJLEWHVHLQHQ%RGHQVWHOOWH&DYXVIHVW8QGHVVROOWHQLFKWPHKUVHKUODQJHGDXHUQELVZLULKQHUUHLFKW KDEHQ
6LHVHW]WHQGHQ$EVWLHJIRUW (VZDUHLQEHNOHPPHQGHV*HIKOLPPHUWLHIHULQGHQ%RGHQKLQDE]XNOHWWHUQXQGGDEHL]X ZLVVHQGDHV NHLQHUMHPDOVJHVFKDIIWKDWWHGHQ5FNZHJDQ]XWUHWHQ8QZLOONUOLFKVXFKWH.DPHHDXIGHP %RGHQQDFKGHQ6SXUHQGHU0HQVFKHQGLHYRULKUKLQDEJHVWLHJHQZDUHQLQGLHVHQ6FKDFKW 6LHVXFKWHQDFKGHQ5HTXLVLWHQGHV*UDXHQVQDFK.QRFKHQXQGZHLHQ6FKl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lXVFKJHQDX]XK|UHQ(VNODQJZLHGDV0XUPHOQXQ]lKOLJHU6WLPPHQHLQ VWHWLJHV5DXQHQXQG)OVWHUQ'HU/DXWNDPDXVDOOHQ5LFKWXQJHQJOHLFK]HLWLJ /DQJVDPEHNRPPHLFKHVPLWGHU$QJVW]XWXQVDJWH6KDNWDU XQGVHLQH6WLPPHYHUULHWGLH (UQVWKDIWLJNHLWVHLQHU$XVVDJH:DVLVWGDVIUHLQ2UW" ,FKQHKPHDQGLHVLVWGHU$EJUXQGGHU(LQVLFKWRGHUZLHLPPHUDXFKGHU+RKH7DDPDU GLHVHQ2UWEH]HLFKQHWKDW (LQ3ODW]GHV6FKUHFNHQVVDJWH.DPHHIU|VWHOQG*HKHQZLUZHLWHUVFKOXJ&DYXVYRU $XFKVHLQH 6WLPPHKDWWHDQ)HVWLJNHLWYHUORUHQ.DPHHVDKGDHUGLH+DQGQLFKWYRP*ULIIGHVODQJHQ 0HVVHUVQDKP9RUVLFKWLJVHW]WHQVLHVLFKLQ%HZHJXQJDXIGHQ0LWWHOSXQNWGHVULHVLJHQ *HZ|OEHV]X 'HU7UHSSHQVFKDFKWODJDP5DQGGHU'RPNXSSHOGLHYRQXQJHKHXUHP$XVPDVHLQPXWH 6KDNWDUOHJWHGLH+lQGHYRUGHQ0XQG +DOOR"ULHIHU 'HU.ODQJYHUZHKWHLQGHU:HLWHGHV5DXPHV'LH)HOVHQNXSSHOPXWHXQJHKHXHUJURVHLQ (LQ:XQGHUGDGLHVHV*HELOGHQLFKWOlQJVW]XVDPPHQJHVWU]WZDU 9RQHLQHP(FKRZDUQLFKWV]XK|UHQ:HQQHVQLFKWLUJHQGHLQHQ:LQNHOJDELQGHPGHU 6FKDOOI|UPOLFKDEVRUELHUWZXUGHPXWHGLH+DOOHHWOLFKH.LORPHWHUGXUFKPHVVHQHLQ *HGDQNHGHU.DPHHPLW6FKDXGHUHUIOOWH 'DVHLQ]LJH*HUlXVFKGDVGLHDQJHVSDQQWH6WLOOHGXUFKEUDFKZDUHQGLHGXPSIHQ/DXWHGHU 6FKULWWH1LHPDQGVSUDFK(LQHXQHUNOlUOLFKH6SDQQXQJKDWWHVLFKGHU7HUUDQHUEHPlFKWLJW .DPHHVWHOOWH]LHPOLFKHQWJHLVWHUWLPHUVWHQ$XJHQEOLFNIHVWGDVLHEHUKDXSWNHLQH $QJVWPHKUKDWWH9HUVFKZXQGHQZDUGLH7RGHVIXUFKW
'DQQWDXFKWHQGLHHUVWHQ*HVWDOWHQDXI:HLH.|USHUGLHDXVGHP%RGHQJHZDFKVHQ]XVHLQ VFKLHQHQ .DPHHEOLHEVWHKHQQHEHQGHQDQGHUHQ :DVLVWGDV"IUDJWH&DYXVIOVWHUQG 0HQVFKHQJDE6KDNWDUOHLVH]XUFN(VVLHKWMHGHQIDOOVVRDXV:LUPVVHQQlKHUJHKHQ XPHWZDVHUNHQQHQ]XN|QQHQ .DPHHIKOWHLKU+HU]KDUWXQGVFKQHOOVFKODJHQ6LHVFKOLFKKLQWHUGHQDQGHUHQKHUGLHVLFK GHQ*HVWDOWHQVHKUYRUVLFKWLJQlKHUWHQMHGHU]HLWDXIHLQHW|GOLFKHhEHUUDVFKXQJJHIDW (VVLQG0HQVFKHQVDJWH6KDNWDU6LHVLQGYHUVWHLQHUW .DPHHVDKLQGDV*HVLFKWHLQHU)UDX-HGH3RUHZDU]XHUNHQQHQMHGHQRFKVRNOHLQH)DOWH 'LH)UDXKDWWHHLQDXVGUXFNVORVHV*HVLFKW,KU0XQGVWDQGHLQZHQLJRIIHQXQGXQZLOONUOLFK EHXJWHVLFK.DPHHQLHGHU 6LHHUVFKUDNELVLQV0DUN 'DZDUGDV*HUlXVFK(LQOHLVHUNDXPYHUQHKPEDUHU7RQHLQZHKHV6LQJHQHLQLPPHU JOHLFKHU7RQGHU4XDO(LQSDDU6FKULWWHZHLWHUVWDQGHLQDQGHUHUHLQ0DQQDXFKHU YHUVWHLQHUW.DPHHUDQQWHKLQEHUOHJWHGDV2KUDQGHQZHLHQ0XQG$XFKKLHUGHUJOHLFKH 7RQ (VPXWHQ7DXVHQGHVHLQGLHKLHUVWDQGHQXQGVLFKQLFKWPHKUUHJWHQ6WHLQJHZRUGHQH 0HQVFKHQ(LQ)ULHGKRIDXVOHEHQGHP0DUPRU (LQ7URSIHQILHODXI.DPHHKHUDE6LHVSUWHZLHYRQGHU6WHOOHHLQHHLVLJH.lOWHLKUHQ JDQ]HQ.|USHUHUIDWHXQGDXIGHU+DXWI|UPOLFKEUDQQWH :HLWHUVWLH6KDNWDUKHUYRU:LUPVVHQKHUDXVILQGHQZDVKLHUJHVFKHKHQLVW 6HKWLKU"IUDJWH&DYXV6HKWLKUGLH.|SIHGHU/HXWH6HKWJHQDXKLQ6HKWLKUHV -HW]WHUVWILHOHV.DPHHDXI -HGHUGLHVHU.|SIHWUXJHLQH6KDNRRWHHDXFKVLHZDUYHUVWHLQHUW 6LQGVLHGLH2SIHUGHU7RGHVEOXPH"IUDJWH.DPHH2GHUZDVVROOGLHVHU)ULHGKRI EHGHXWHQ":DUXPVFKLFNWPDQXQVKLHUKHU" 6LHNDQQWHGLH$QWZRUW6LHZXWHVLHYRP$XJHQEOLFNDQGDVLHGHQ5DXPEHWUHWHQKDWWH -HGHUGHUGLHVHQ)HOVHQGRPHUUHLFKWKDWWHZDUYROOHU+RIIQXQJJHZHVHQLKQDXFKZLHGHU YHUODVVHQ]XN|QQHQ'LHVH+RIIQXQJZDUHLWOHU:DKQ .DPHHZXWHZDVDXIVLHXQGLKUH)UHXQGHZDUWHWH'HU7RG
,FKP|FKWHZHJYRQKLHU³VDJWH'DJDOOHLVH6LHVSUDFKZHQLJ(VVFKLHQHLQH(LJHQDUWGHU 7HUUDQHUGHV3ODQHWHQ]XVHLQVHKUZRUWJHL]LJDXI]XWUHWHQ 'DVP|FKWHMHGHUVDJWH.DPHH$EHUZHQQZLUXQYHUULFKWHWHU'LQJHZLHGHUDXIWDXFKHQ ZLUGHVXQVHU7RGVHLQXQGGHUYRQ%XOO\XQGHXUHQ)DPLOLHQHEHQIDOOV $OVRJLQJHQVLHZHLWHU (LQH *HVWDOW QDFK GHU DQGHUHQ WDXFKWH DXI :DUHQ VLH XUVSUQJOLFK QXU YHUHLQ]HOW ]X VHKHQ JHZHVHQZXUGHQLKUH5HLKHQMHW]WLPPHUGLFKWHU :HLH *HVWDOWHQ SRUHQJHQDX DXV 0DUPRU QDFKJHELOGHW RGHU ZLH .DPHH LQVJHKHLP EHIUFKWHWHYRPNDONKDOWLJHQ7URSIZDVVHUODQJVDPPLW.DONEHU]RJHQIHVWJHKDOWHQIUGLH (ZLJNHLW 8QG MH WLHIHU GLH 0HQVFKHQ LQ GLHV XQWHULUGLVFKH 5HLFK HLQGUDQJHQ XP VR ODXWHU ZXUGHGHU.ODJHJHVDQJGHU9HUVWHLQHUWHQXPVRGLFKWHUZXUGHQLKUH5HLKHQ6LHVWDQGHQEDOG GLFKWDQGLFKW(VPXWHQ7DXVHQGHVHLQ .DPHHIKOWHLKUH/LSSHQ]LWWHUQ 'HU $QEOLFN EHUHLWHWH 6FKPHU]HQ (U VFKXI 4XDO ,UJHQGHLQH YHUERUJHQH 6HLWH LKUHU 6HHOH ZXUGHGXUFKGLHVHV%LOG]XU5HVRQDQ]DQJHUHJWVFKZDQJLPPHUVWlUNHUPLW 6FKXOGZDUGDV:RUWGDVVLFK.DPHHLQLPPHUVWlUNHUHP0DDXIGUlQJWH(VNDPLKUYRU DOV VFKUHLWH VLH GXUFK LKUH XUHLJHQVWH +|OOH -HGH GLHVHU )LJXUHQ GLH GD VWDQGHQ VLFK QLFKW
UKUWHQ VRQGHUQ QXU OHLVH NODJWHQ VFKLHQ GHQVHOEHQ *HGDQNHQ DXVGUFNHQ ]X ZROOHQ LFK VWHKHKLHUGHLQHWZHJHQ-HGHGLHVHU*HVWDOWHQVFKLHQ6WHOOYHUWUHWHU]XVHLQRGHUYLHOOHLFKWJDU GDV2SIHU" +LHUHLQE|VHV:RUWXQGHLQHNOHLQH8QHKUOLFKNHLWGRUWHLQHIDXVWGLFNH/JH'LHVHPHWZDV YRUJHPDFKWGHQGRUWJHWlXVFKWGLHVHQEHOHLGLJWMHQHQEHUV2KUJHKDXHQ(LQH9HUOHW]XQJ KLHU HLQH :XQGH GRUW DOOHV DXIEHZDKUW IU GLH (ZLJNHLW *HVWDOWHQ IHOVJHZRUGHQHQ 6FKPHU]HVHLQHOHLVHVHXI]HQGH.ODJH .DPHHGUHKWHVLFKXPGLHHLJHQH$FKVH6LHJLQJ]XHLQHUGHU*HVWDOWHQVDKLKULQV*HVLFKW VWHOOWHLKUGLHVLQQORVH)UDJHZDVKDEHLFKGLUJHWDQ":DUXPELQLFKKLHU":DUXPPXLFK PLUGHQ.ODJHJHVDQJDQK|UHQ":DVKDEHLFKJHWDQXPGDV]XYHUGLHQHQZDVKDVWGXJHWDQ HLQVROFKHV6FKLFNVDOYHUGLHQW]XKDEHQ" 'LHYHUVWHLQHUWHQ*HVLFKWHUJDEHQNHLQH$QWZRUW6LHGURKWHQQLFKWVLH]HLJWHQNHLQHQ+D NHLQH 9HUDFKWXQJ 6LH VDKHQ GXUFK .DPHH KLQGXUFK GHQ %OLFN LQ :HLWHQ JHULFKWHW GLH IU .DPHHXQHUUHLFKEDUZDUHQ .DPHH QDKP LQ HLQHP NXU]HQ $XJHQEOLFN ZDKU GD GLH *UXSSH JHVSUHQJW ZDU /lQJVW NPPHUWHVLFKMHGHUQXUQRFKXPVLFKVHOEVW /DXWZDUGHU*HVDQJJHZRUGHQHLQ2UJHOWRQGHV/HLGHQVVFKZHUXQGODVWHQG :LHYLHO 6FKXOG ZDU KLHU DXIJHVSHLFKHUW XQG PXWH DEJHEW ZHUGHQ" 8QG ZHU KDWWH JHVQGLJW6FKXOGDXIVLFKJHODGHQ":HUKDWWHEHVWLPPWGDHLQHUVFKXOGLJJHZRUGHQZDU" :HUYROOVWUHFNWHKLHUZHVVHQ8UWHLO" .DPHHSUHWHGLH+lQGHYRUV*HVLFKW 6LH DWPHWH VWRZHLVH ,KUH *HGDQNHQ EHUVFKOXJHQ VLFK 6LH ZXUGHQ ]X HLQHP KlPPHUQGHQ 6WDNNDWRGHV9RUZXUIV .DPHHWDXPHOWHZHLWHU6LHHUWUXJGHQ$QEOLFNQLFKWOlQJHU-HGHU6FKULWWGHQVLHWDWVFKLHQ EHU /HLFKHQ KLQZHJ]XIKUHQ DXFK ZHQQ HV QLFKWV GHUJOHLFKHQ ]X VHKHQ JDE -HGHU 6FKULWW IKUWHVLHWLHIHUKLQHLQLQHLQHQ=XVWDQGGHU6HOEVWDQNODJH (V ZDU QLFKW HLQHU MHQHU $QIlOOH GLH .DPHH NDQQWH MHQHU PRUDOLVFKH .DW]HQMDPPHU ZHLQHUOLFKHU6HOEVWYRUZUIHGHUYRQGHU6HGHV6HOEVWPLWOHLGVGXUFKWUlQNWZDU :DVKLHUDXI.DPHHHLQVFKOXJZDUGDV6FKZHUWGHVJQDGHQORVHQ8UWHLOVGHUYHUQLFKWHQGHQ $QNODJH(VKLHQLFKWKlWWHLFKGRFK(VKLHGXKDVW.DPHHVFKZDQNWH6LHHUWUXJGLHV QLFKWOlQJHU6LHZDUGLHVHUJUDXHQYROOHQ=HUPUEXQJQLFKWJHZDFKVHQ :RKHU NDPHQ GLHVH *HGDQNHQ GLH GRFK HLJHQWOLFK QLFKWV PLW GHQ WDWVlFKOLFKHQ *HJHEHQKHLWHQ]XWXQKDWWHQ"*HZLHVJDEGLHVHQVFKUHFNOLFKHQ)ULHGKRIGHU9HUVWHLQHUWHQ $EHU ZDV KDWWH VLH GDPLW ]X WXQ" :RKHU NDP GLHVH JUlOLFKH 9HUNQSIXQJ GLH VLH VHOEVW ODQJVDP]HUPUEWHXQGEHUHLWPDFKWHHLQ7HLOGLHVHV)ULHGKRIV]XZHUGHQ" .DPHHEUDFKLQGLH.QLH6LHVFKULHODXWYRU6FKPHU]7UlQHQOLHIHQLKUEHUGDV*HVLFKW 6LHQDKPQLFKWPHKUZDKUZDVXPVLHKHUXPJHVFKDK6LHVDKQLFKWGDHVGHQ*HIlKUWHQ QLFKWDQGHUVHUJLQJGDVLHHEHQIDOOVNURFKHQXQGVFKULHQXQGZHLQWHQ 'HU%RGHQIHW]WHGLH+DXWYRQ.DPHHV.QLHQYRQGHQ,QQHQIOlFKHQGHU+DQG.DPHHQDKP HVQLFKWZDKU 'DQQSO|W]OLFKZDUHVYRUEHL9RQHLQHP$XJHQEOLFNDXIGHQDQGHUHQ 6LH VSUWH :DVVHU DQ GHQ +lQGHQ XQG HLQHQ +HU]VFKODJ VSlWHU ILHO VLH PLW GHP *HVLFKW KLQHLQ'LH.lOWHGHV:DVVHUVWUDIVLHZLHHLQ6FKRFN.DPHH]XFNWHKRFK,KU%OLFNNOlUWH VLFK'HU$QIDOOZDUVRVFKQHOOEHHQGHWZLHHUJHNRPPHQZDU 9RULKUSOlWVFKHUWH:DVVHU'DV:DVVHUZDUVFKZDU](VUHIOHNWLHUWHQLFKW.DPHHNRQQWHVLFK GDULQQLFKWVHKHQXQGVLHZDUGDQNEDUGDIU *LHULJVFKOUIWHVLHDXVGHUKRKOHQ+DQGYRQGHP:DVVHU(VZDUHLVLJNDOWEUDQQWHDXIGHQ /LSSHQDEHUHVHUIULVFKWH0LWMHGHP6FKOXFNZLFKGHU6FKPHU]DXV.DQLHH 6LHGUHKWHVLFKXP =HKQ 6FKULWWH YRQ LKU HQWIHUQW NURFK &DYXV PLW JHTXlOWHP *HVLFKW EHU GHQ %RGHQ 7UlQHQ OLHIHQ EHU GDV *HVLFKW GDV YHU]HUUW ZDU YRQ 6FKPHU]HQ GHUHQ 8UVDFKH QLHPDQG NDQQWH
DXHU LKP (U NQLFNWH LQ GHQ (OOHQERJHQ HLQ VFKOXJ DXI GDV *HVLFKW .DPHH VWDQG DXI 6LH VFK|SIWH HWZDV YRQ GHP :DVVHU LQ GLH KRKOH +DQG GDQQ JLQJ VLH ]X &DYXV KLQEHU XQG VFKWWHWHLKPGDV:DVVHULQV*HVLFKW(VKDOIQLFKWYLHODEHUGHUMXQJH0DQQVFKDIIWHHVXQWHU .UlPSIHQVLFKELVDQGDV8IHU]XVFKOHSSHQ'RUWEUDFKHU]XVDPPHQVREDOGHUGDV:DVVHU EHUKUWKDWWH
.DPHHVHW]WHVLFKQHEHQ&DYXVDXIGHQ%RGHQ6LHVDKKLQDXVDXIGDVVFKZDU]H:DVVHUGDV VLFKOHLVHEHZHJWH6LHEHJULIIQLFKWZDVVLFKXPVLHKHUXPLQGHQOHW]WHQ6WXQGHQDEJHVSLHOW KDWWH (V NRQQWH HLQH VROFKH 5LHVHQK|KOH QLFKW JHEHQ HV NRQQWH NHLQ VFKZDU]HV :DVVHU JHEHQ HV NRQQWH GLH NODJHQGHQ /LHGHU GHU 9HUVWHLQHUWHQ QLFKW JHEHQ DEHU DOO GLHV ZDU :LUNOLFKNHLW 1DFKHLQDQGHU WUDIHQ GLH HLQ]HOQHQ 0LWJOLHGHU GHU *UXSSH DP 5DQG GHV :DVVHUEHFNHQV HLQ MHGHU YRQ LKQHQ DP 5DQG GHU N|USHUOLFKHQ XQG JHLVWLJHQ (UVFK|SIXQJ ,Q .DPHH VWLHJ GHU *HGDQNH DXI GD GLHV GDV )HJHIHXHU VHLQ PXWH DEHU VLH YHUZDUI GHQ *HGDQNHQ VRIRUW ZLHGHU 6LH NODPPHUWH VLFK DQ GLH +RIIQXQJ GD HV IU DOO GLHVH 9RUJlQJH HLQH ZLVVHQVFKDIWOLFKH(UNOlUXQJJHEHQPXWH (LQH6WXQGHYHUJLQJLQGHUQLFKWVJHVFKDK/DQJVDPNDPHQGLH0HQVFKHQZLHGHU]XVLFKVLH VFKDUWHQVLFK]XVDPPHQVDHQDXIGHP%RGHQXQGVFKZLHJHQ(LQHXQHUNOlUOLFKH6WLPPXQJ KDWWHVLHEHIDQJHQ (VZDU.DPHHGLHGDV6FKZHLJHQEUDFK *HKHQZLUZHLWHUVDJWHVLH6LHVWDQGDXIXQGVHW]WHVLFKLQ%HZHJXQJ'LHDQGHUHQIROJWHQ RKQH=|JHUQ .DPHH JLQJ DP 5DQG GHV 6FKZDU]HQ 6HHV HQWODQJ 6LH ZROOWH GLHVHV VHOWVDPH *HZlVVHU XPNUHLVHQZHQQVLFKGDVPDFKHQOLH6LHDKQWHGDHVPLWWHQLQGLHVHPGVWHUHQ6HHQRFK HWZDV]XHQWGHFNHQJDELKUZDUDXIJHIDOOHQGDVlPWOLFKH9HUVWHLQHUWHQLKUH*HVLFKWHU LQ GLHJOHLFKH5LFKWXQJJHZDQGWKDWWHQGRUWKLQZR.DPHHGHQ0LWWHOSXQNWGHV6FKZDU]HQ6HHV YHUPXWHWH =X VHKHQ ZDU YRQ GLHVHU 0LWWH QLFKWV GDV /LFKW DXV GHU +|KOH UHLFKWH QLFKW VR ZHLW 1XU LQ GHU XQPLWWHOEDUHQ 8PJHEXQJ GHU *UXSSH ZDU GHU JOHLFKH 6FKHLQ VWDUN JHQXJ GHQ%RGHQXQGGLHZHLHQ*HVWDOWHQGHU9HUVWHLQHUWHQHUNHQQHQ]XODVVHQ-HZHLWHUHQWIHUQW HLQ*HJHQVWDQGVLFKEHIDQGXPVRVFKZlFKHUZDUHU]XVHKHQXQGGUHLLJ0HWHUYRP8IHU HQWIHUQWYHUORUVLFKGHU6FKHLQYROOHQGV'DKLQWHUZDUQXUXQGXUFKGULQJOLFKH6FKZlU]H (V ZXUGH QLFKW JHUHGHW ZlKUHQG GHV 0DUVFKHV 'LH 0HQVFKHQ EHZHJWHQ VLFK VFKZHLJHQG GXUFKGLH5HLKHQGHU9HUVWHLQHUWHQGLHDP8IHUEHVRQGHUVGLFKWVWDQGHQ1RFKLPPHUHUW|QWH GDVNODJHQGH/LHGDEHUHVVFKLHQOHLVHUJHZRUGHQ]XVHLQ.DPHHQDKPHVNDXPPHKUZDKU 6LH ZXWH QLFKW ZLH GLH =HLW YHUVWULFK RE HV 0LQXWHQ ZDUHQ RGHU 6WXQGHQ LQ GHQHQ VLH JOHLFKPlLJHLQHQ)XYRUGHQDQGHUHQVHW]WHXQGLPPHUZHLWHUXQGZHLWHUJLQJVWHWVHLQHQ 0HWHU YRQ GHU *UHQ]H ]ZLVFKHQ GHP %RGHQ XQG GHU JODQ]ORVHQ 6FKZlU]H GHV :DVVHUV HQWIHUQW 'DQQDEHUVDKVLHGLH%UFNH :HLVFKLPPHUWHVLHLQ%OLFNULFKWXQJGXUFKGDV'XQNHO(LQHDWHPEHUDXEHQGH.RQVWUXNWLRQ ZLHDXVPDUPRUQHU6SLW]HJHIHUWLJW]LHUOLFKXQGGRFKZHLWJHVSDQQW(LQHODQJH5DPSHIKUWH DXIGLHHLJHQWOLFKH%UFNHKLQDXI.DPHH]|JHUWHQLFKWGLHVH5DPSH]XEHJHKHQ 'LH%UFNHVHOEVWUDJWHHWZD]HKQ0HWHUEHUGDV :DVVHUKLQDXVDEHUHVZDUQLFKW]XVHKHQZRVLHLKUDQGHUHV(QGHKDWWH'HUHLQH)XVWDQG DXIGHP8IHUGHUDQGHUHZDUQLFKW]XVHKHQGLH%UFNHYHUORUVLFKLQGHU'XQNHOKHLW 8QJODXEOLFK ]HUEUHFKOLFK ZLUNWH GLH %UFNH 6LH EHVWDQG QXU DXV HLQHP GQQHQ %RGHQ XQG HLQHPILOLJUDQHQ*HOlQGHUEHLGHVDXVUHLQZHLHP*HVWHLQ.DPHHVDKIOFKWLJDXIGLH0XVWHU GHV*HOlQGHUVVLHYHUVWDQGVLHQLFKW6LHEHJULIIDXFKQLFKWZLHHVP|JOLFKZDUHLQH%UFNH DXVVR]DUWHP0DWHULDO]XEDXHQ *ODWWZLH3RU]HOODQZDUGHU%RGHQXQGEHLMHGHP6FKULWWJDEHVHLQHQOHLVHQ7RQJOHLFKGHP .ODQJHLQHUZHLWHQWIHUQWHQ*ORFNH .DPHHJLQJZHLWHUKLQHLQLQGDV'XQNHO'DV/LFKWVFKLHQLKUDXIJHKHLPQLVYROOH:HLVH]X
IROJHQVLHNRQQWHVWHWVGLHQlFKVWHQ0HWHUGHU%UFNHHUNHQQHQ DXFK DOVVLHOlQJVWQLFKWV PHKUYRQGHP8IHUVHKHQNRQQWH 'HU *ORFNHQWRQ ZXUGH VWlUNHU 'LH %UFNH JHULHW LQ 6FKZLQJXQJHQ 0LW MHGHP 6FKULWW GHQ .DPHHPDFKWHZLHGHUKROWHVLFKGHU7RQVFKZROODQXQGYHUNODQJZLHGHU .DPHHEOLHEVWHKHQ.HLQ/DXWZDU]XK|UHQREZRKOGLHDQGHUHQZHLWHUJLQJHQ'DQQVHW]WH VLHVHOEVWZLHGHUHLQHQ)XDXIGHQ%RGHQGHU%UFNHXQGVRIRUWZDUGHU7RQZLHGHUGDYROO XQGIRUGHUQG .DPHH]XFNWHPLWGHQ6FKXOWHUQ6LHJLQJZHLWHU /lQJVWKDWWHVLHGLH.RQWUROOHYHUORUHQ6LHZXWHQLFKWPHKUZRVLHZDU,UJHQGZRDXVGHU +|KHILHOIDKOHV/LFKWDXIGLH%UFNHXQGULVLHIUHLQSDDU0HWHUDXVGHU'XQNHOKHLW:DV UHFKWVXQGOLQNVGDYRQZDUOLHVLFKQLFKWHUNHQQHQ'DV8IHUZDUYHUVFKZXQGHQHLQQHXHV QLFKWLQ6LFKW(VJDEQXUGLH%UFNHXQGGLH0HQVFKHQGLHVLFKLQVFKZHLJHQGHU3UR]HVVLRQ GDUDXIEHZHJWHQ 'DQQHQWGHFNWH.DPHHGDVLFKGHU%RGHQXQWHULKUHQ)HQOHLVHQHLJWH2IIHQEDUVHQNWH VLFKGLH%UFNH]XPMHQVHLWLJHQ8IHU 'HU *ORFNHQWRQ GHU MHW]W MHGHQ DQGHUHQ /DXW EHUW|QWH ZDU YRQ HLQHU IDVW VFKPHU]KDIWHQ 6WlUNH (U OLH .DPHHV .|USHU ELV LQ GLH OHW]WHQ )DVHUQ YLEULHUHQ HUIOOWH VLH PLW EDQJHU )XUFKWYRUGHPZDVDXIGHPDQGHUHQ8IHUZDUWHWH
.RQWXUHQVFKlOWHQVLFKDXVGHU)LQVWHUQLV'DV(QGHGHU%UFNHNDPLQ6LFKW'DKLQWHUZDU HLQ ZHLWHUHV *HElXGH ]X HUNHQQHQ HLQ *HJHQVWFN ]X GHP 7HPSHO DQ GHU 2EHUIOlFKH QXU ZHVHQWOLFKNOHLQHU .DPHHOLHGHQ6DFNPLWGHQ/HEHQVPLWWHOQDXIGHQ%RGHQIDOOHQ0RFKWHHUOLHJHQEOHLEHQ 6LH DKQWH GD VLH MHW]W DQ GHU 4XHOOH GHV *HKHLPQLVVHV ZDU GDV 6KDNRRWHH JOHLFKVDP EHKHUUVFKWH $P(QGHGHU%UFNHZDUWHWHHLQHhEHUUDVFKXQJDXI.DPHH,KU)XEHUKUWHZHLFKHQ%RGHQ ORFNHUH(UGHIHWWXQGVFKZDU]6HOWVDPZDUGDLKU)XGDULQNHLQH6SXUHQKLQWHUOLH .DPHH JLQJ ZHLWHU DXI GHQ 7HPSHO ]X (U ZDU NQDSS PDQQVKRFK XQG EHVWDQG DXV GHP JOHLFKHQSRU]HOODQlKQOLFKHQ0DWHULDOZLHGLH%UFNH 'HU7HPSHOZDUOXIWLJJHEDXWPDQNRQQWHGXUFKLKQKLQGXUFKVHKHQ(VJDELQVHLQHP,QQHUQ QLFKWV%HVRQGHUHVQXUHLQH6KDNRRWHH (V ZDU GLH JU|WH 6KDNRRWHH GLH .DPHH ELVKHU JHVHKHQ KDWWH (LQH %OWH GLH IDVW HLQHQ KDOEHQ 0HWHU GXUFKPD 8QWHU GHU %OXWH GHUHQ %OlWWHU LP EOHLFKHQ /LFKW JHKHLPQLVYROO VFKLPPHUWHQZXFKVHQ+XQGHUWHNOHLQHU%OWHQDOOHYRQGHUJOHLFKHQ6RUWH .DPHHEOLHEDXIGHUREHUVWHQ6WXIHGHV7HPSHOVVWHKHQ 'DVZDUDOOHV" 'LH *UXSSH VFKDUWH VLFK XP GHQ 7HPSHO GHU 6KDNRRWHH 5DWORV VDKHQ VLH GDV %HHW GLH 5LHVHQEOWH6LaYHUVWDQGHQQLFKWV .DPHHNQLHWHQLHGHU 6HKUEHKXWVDPVWUHFNWHVLHGLH+DQGDXV 7X VQLFKWVDJWH&DYXVOHLVHDEHU.DPHHK|UWHQLFKWDXILKQ6LHEHUKUWHGLH5LHVHQEOWH +HL SXOVWH HV GXUFK GLH +DQG LQ LKUHQ .|USHU .DPHH IKOWH VLFK ZLH DXIJHODGHQ XQG VLH EHJULII GLH 6KDNRRWHHV ZDUHQ QLFKW GLH QDWUOLFKHQ )HLQGH GHU 0HQVFKHQ (V PXWH HLQ JUDXHQYROOHV 0LYHUVWlQGQLV JHJHEHQ KDEHQ GD VLFK GLH 'LQJH VR XQG QLFKW DQGHUV HQWZLFNHOWKDWWHQ .DPHH]RJGLH+DQG]XUFN6LHJULIIQDFKHLQHP6WHQJHOHLQHUGHUNOHLQHQ6KDNRRWHHV(LQ VDQIWHU =XJ EHI|UGHUWH GLH 3IODQ]H LQ GLH +|KH 'LH GXQNHOURWHQ :XU]HOQ VFKLPPHUWHQ WFNLVFKLP/LFKW .HLQHUVDJWHHLQ:RUW .DPHH VWULFK VLFK PLW GHU +DQG GDV +DDU DXV GHP 1DFNHQ GDQQ VHW]WH VLH GLH 6KDNRRWHH KLQWHUGHP2KUDQ(LQIHLQHU6WLFKZDU]XVSUHQPHKUQLFKW
'DVGDUIQLFKWZDKUVHLQlFK]WH5RG1\VVHQ$OOHVKDWWHLFKHUZDUWHWGDVKLHUQLFKW (U KRFNWH DXI GHU ZHLHQ 7UHSSHQVWXIH Y|OOLJ HUVFK|SIW NDXP PHKU IlKLJ ]X VSUHFKHQ (U XQG&RQUDG'HULQJKRXVHKDWWHQGHQVFKZHUYHUOHW]WHQ0LFKDHO)UH\WELVKLHUKHUJHWUDJHQ (LQ SDDU ODXVLJH 3IODQ]HQ VWLH 1\VVHQ KHUYRU 'HU JDQ]H bUJHU ZHJHQ HLQ SDDU 3IODQ]HQ 9LHOOHLFKWODVVHQZLUXQVYRQGHU2EHUIOlFKHGHU'LQJHWlXVFKHQPXUPHOWH)UH\W (UZDUDEJHVWU]WHLQLJH0HWHUWLHIXQGHUZXWHGDHUVLFKYRQGLHVHP6WXU]QLFKWPHKU HUKROHQZUGH6HLQHQ*HIlKUWHQJLQJHVQLFKWYLHOEHVVHU,KUH .UlIWHZDUHQDXIJH]HKUWVLHZDUHQGHP7RGHQlKHUDOVGHP/HEHQ 6HLWHWOLFKHQ7DJHQKDWWHQVLHQLFKWVPHKUJHJHVVHQXQGVLHZXWHQGDVLHQLFKWPHKUGLH .UDIWDXIEULQJHQZUGHQGLH7UHSSHQKLQDXI]XVWHLJHQGLH]XUFNIKUWHQDQV7DJHVOLFKW6LH ZXWHQGDVLHKLHUXQWHQEOHLEHQZUGHQLQGLHVHUIDKOHQ'lPPHUZHOW %LVKLHUKLQ]XNRPPHQZDUVFKZHUJHZHVHQ'HU*HVDQJGHU6WHLQILJXUHQKDWWHGLH0lQQHU JHLVWLJIDVW]HUVW|UW(VHUVFKLHQLKQHQDOV:XQGHUGDVLHQLFKWGHQ9HUVWDQGYHUORUHQKDWWHQ QDKHGDUDQZDUHQVLHLQMHGHP)DOOJHZHVHQ 0LFKDHO )UH\W OHKQWH VLFK HWZDV EHTXHPHU JHJHQ GLH 6lXOH GHV 7HPSHOV (U VDK KLQEHU ]X GHU5LHVHQEOWH]XGHP.UDQ]YRQ6KDNRRWHHVGHUGLHVHV*HZlFKVXPJDE ,FK P|FKWH ZLVVHQ ZHU DOO GDV KLHU DQJHOHJW KDW VDJWH 5RG 1\VVHQ 'LHVHU ULHVLJH )HOVHQGRPGLH7DXVHQGHYRQ6WHLQILJXUHQGLH7UHSSH+LHUPVVHQ7DXVHQGHYRQ0HQVFKHQ JHDUEHLWHWKDEHQXQGGDVDOOHVQXUIUHLQ%OXPHQEHHW 9LHOOHLFKWKDWGLHVH3IODQ]HHLQHQEHVRQGHUHQ6WHOOHQZHUWUlWVHOWH'HULQJKRXVHKHUXP (U VDK DXI GLH 8KU 'UDXHQ ZUGH LQ ZHQLJHQ 6WXQGHQ GHU 7DJ EHJLQQHQ :DV KDWWH GHU 6KDNRRWHH)KUHUJHVDJW"1LHPDQGN|QQHHLQHQ7DJODQJGRUWXQWHQDXVKDOWHQ" :LHYLHO=HLWKDEHQZLUQRFK" 'UHL6WXQGHQELV7DJHVDQEUXFKDQWZRUWHWH'HULQJKRXVH(VVLHKWEHODXV)UHXQGH )UH\W]XFNWHPLWGHQ6FKXOWHUQ :LU KDEHQ GDPLW JHUHFKQHW VDJWH HU (V KlWWH IUKHU JHVFKHKHQ N|QQHQ HV KlWWH DXFK VSlWHUVHLQN|QQHQ,P$XJHQEOLFNNPPHUWHVPLFKQLFKWPHKU (UYHU]RJIUHLQHQNXU]HQ$XJHQEOLFNGDV*HVLFKW)UH\WYHUPXWHWHGDHUVLFKEHLP6WXU] HLQSDDU5LSSHQJHEURFKHQXQGLQQHUH2UJDQHYHUOHW]WKDWWH'HU6FKPHU]ZDUKHIWLJJHUDGH QRFK]XHUWUDJHQ:DV)UH\WQRFKPHKUTXlOWHZDUGDV%HZXWVHLQGDDXFKGLH)UHXQGHHV QLFKWPHKUVFKDIIHQZUGHQ hEOLFKHUZHLVH PWHQ ZLU XQV MHW]W =LJDUHWWHQ DQVWHFNHQ VDJWH )UH\W QDFK HLQHU 3DXVH 'DVWXWPDQGRFKLQVROFKHQ6LWXDWLRQHQ 1LFKWDXI6KDNRRWHH PXUPHOWH1\VVHQ,FKP|FKWH ZLVVHQ ZDUXP GLHVHU 0DQQ GHU GLU GLH .RRUGLQDWHQ YHUUDWHQ KDW GLFK VR DQJHVFKZLQGHOW KDW 'LHVH :HOW LVW NHLQ 3DUDGLHV MHGHQIDOOVQLFKWPLWGHQ6KDNRRWHHV6LHLVWIUXQVGLHUHLQH+|OOH 9LHOOHLFKWPDFKHQZLUHWZDVIDOVFKVDJWH)UH\W,PPHUZLHGHUVDKHU]XGHUULHVLJHQ%OXPH KLQEHU 'DVJDEDOOHVNHLQHQ6LQQ(VIHKOWHHLQ:RUWHLQ%HJULIIGHUGHQ6FKOVVHOGDUVWHOOWH:DU GDV :RUW JHIXQGHQ OLHHQ VLFK GLH HLQ]HOQHQ 6WHLQH ]X HLQHP ZXQGHUEDUHQ 0RVDLN ]XVDPPHQVWHOOHQIHKOWHGDV:RUWIDQGPDQQLFKWHLQPDOGHQ$QIDQJGHV3X]]OHV )UH\WJLQJGLH%DXVWHLQHGXUFKGLHHUNDQQWH'DZDUHQGLH(UGPHQVFKHQ GLHNOHLQH.RORQLH GLHHUVHOEVWXQGVHLQH*HIlKUWHQJHJUQGHWKDWWHQ'DZDUHQGLHKXPDQRLGHQ6KDNRRWHHV GHQ 7HUUDQHUQ ]XP 9HUZHFKVHOQ lKQOLFK YRQ GHQ %OXPHQ HLQPDO DEJHVHKHQ PLW GHQHQ VLH LQ 6\PELRVH OHEWHQ 'DEHL ZDU HV QRFK Y|OOLJ XQJHNOlUW LQ ZHOFKHU :HLVH GLHVH /HEHQVJH PHLQVFKDIW IXQNWLRQLHUWH :DV KDWWHQ GLH %HZRKQHU YRQ 0DFKOL NL 7LNND YRQ GLHVHU *HPHLQVFKDIWZDVGLH3IODQ]HQ" (V JDE QDWUOLFK HLQH HLQIDFKH 0HWKRGH GDV IHVW]XVWHOOHQ PDQ PXWH VLFK QXU HLQH 6KDNRRWHH DQVHW]HQ )UH\W ZXWH DEHU GD HV NHLQHQ %HZRKQHU GLHVHU :HOW JDE GHU DQVFKOLHHQGGLH%OXPHZLHGHUDEJHOHJWKDWWH'LHVHU7HVWZDUDOVRHLQH(LQEDKQVWUDHYRQ
GHUHVNHLQ=XUFNPHKUJDE 0LFKDHO)UH\WKRUFKWHLQVLFKKLQHLQ(UZXWHGDVVHUQXUQRFKHLQSDDU6WXQGHQ]XOHEHQ KDWWH(UQDKPVLFKYRUGDV([SHULPHQW]XZDJHQZHQQGLH=HLWJHNRPPHQZDUHUZROOWH GDV *HKHLPQLV OIWHQ EHYRU HU VWDUE %LV GDKLQ ZROOWH HU +HUU VHLQHU *HGDQNHQ XQG (PSILQGXQJHQEOHLEHQ :ROOWLKUHVQLFKWZHQLJVWHQVYHUVXFKHQ"IUDJWHHUVHLQH)UHXQGH9LHOOHLFKW .HLQ9LHOOHLFKWVDJWH&RQUDG'HULQJKRXVH:LUZHUGHQHVQLFKWVFKDIIHQDOVRYHUVXFKHQ ZLUHVJDUQLFKWHUVW:LUZHUGHQKLHUEHLGLUEOHLEHQXQGDEZDUWHQ 0LFKDHO)UH\WOlFKHOWHGQQ (VNDQQQRFKHLQSDDU6WXQGHQGDXHUQVDJWHHUPLWHLQHP$QIOXJYRQ6DUNDVPXV (VKDWODQJHJHQXJJHGDXHUWVDJWH5RG1\VVHQ/LHJVWGXEHTXHP" (VJHKWJDE)UH\W]XUFN (U YHUVXFKWH VLFK YRU]XVWHOOHQ ZDV MHW]W LQ GLHVHP $XJHQEOLFN GUDXHQ LQ GHU *DOD[LV YRUJLQJ:RPRFKWHGHU&KHIVWHFNHQ$WODQ%XOO\XQGGLHDQGHUHQIDOOVVLHEHUKDXSWQRFK OHEWHQ+DWWH3HUU\5KRGDQHVJHVFKDIIWZHQLJVWHQVIUGLHZLFKWLJVWHQ0LWDUEHLWHUHLQHQGHU IQIXQG]ZDQ]LJ=HOODNWLYDWRUH]XEHVRUJHQ" 8QG ZDV ZDU HV IU HLQH *HIDKU JHZHVHQ GLH VR JUR XQG VFKUHFNOLFK ZDU GD VRJDU GHU 8QVWHUEOLFKHYRQ:DQGHUHUGDYRU5HLDXVQDKP" $XIGLHVH)UDJHQZUGH0LFKDHO)UH\WNHLQH$QWZRUWPHKUEHNRPPHQGDVZXWHHU(UKDWWH VLFKGLHVHQ$XJHQEOLFNLPPHUDQGHUVYRUJHVWHOOW(UKDWWHDQGLHXQ]lKOLJHQ0DOHJHGDFKWLQ GHQHQ HU LP %UXFKWHLO HLQHU 6HNXQGH KlWWH DWRPLVLHUW VHLQ N|QQHQ ZHQQ GHU 6FKXW]VFKLUP HLQHVYRQLKPJHIKUWHQ6FKLIIHV]XVDPPHQEUDFK(UKDWWHDXFKDQHLQHQIULHGOLFKHQ7RGLP %HWW JHGDFKW XPJHEHQ YRQ GHU )DPLOLH DEHU GDV ZDUHQ 9RUVWHOOXQJHQ GLH HLQHU =HLW DQJHK|UWHQDOVHUQRFKQLFKWGLH=HOOGXVFKHHUKDOWHQKDWWH6HLWKHUKDWWHVLFK0LFKDHO)UH\W ZHQLJPLWGHP*HGDQNHQDQGHQ7RGEHVFKlIWLJW (VZDUHQHWOLFKHJHVWRUEHQLQGHQOHW]WHQ0RQDWHQDEHUHVJDEQRFKJHQXJDQGHUHGLHQRFK YLHOH -DKUH ]X OHEHQ KDWWHQ :lUHQ GLH 6KDNRRWHHV QLFKW JHZHVHQ KlWWH HV HLQH KEVFKH NOHLQH.RORQLHJHEHQN|QQHQ'LH=XNXQIWPXWHHUZHLVHQZDVDXVGHQ7HUUDQHUQZXUGH (VZLUGKHOOVDJWH5RG1\VVHQ0HUNWLKUHV" 7DWVlFKOLFKVWLHJGLH,QWHQVLWlWXQG/HXFKWNUDIWGHV/LFKWHVULQJVXPDQ -HW]W YHVWHKH LFK ZDUXP KLHU QDFK 7DJHVDQEUXFK NHLQHU PHKU KHUDXVNRPPW VDJWH 5RG 1\VVHQ :HQQ GDV /LFKW GHV 0RQGHV VFKRQ GHUDUWLJ YHUVWlUNW ZLUG ZLUG GDV 6RQQHQOLFKW QLFKW]XHUWUDJHQVHLQ9HUPXWOLFKZHUGHQZLUEHLOHEHQGLJHP/HLEJHU|VWHW 9HUVWlUNWPXUPHOWH)UH\W'XKDVWYHUVWlUNWJHVDJW +DEH LFK NQXUUWH 5RG 1\VVHQ JULPPLJ 'DV /LFKW GDV DXI GHQ 7HPSHO IlOOW ZLUG DXI VHKUXQGXUFKVLFKWLJH:HLVHWDXVHQGIDFKYHUVWlUNWXQGQDFKKLHUXQWHQJHVWUDKOW 8QGYHUPXWOLFKDXIGLHVHQVHOWVDPHQ7HPSHOJHOHQNWVDJWH0LFKDHO)UH\W.DQQVWGXPLU VDJHQZLHGLH3IODQ]HGDVDXVKlOW" 1\VVHQVFKWWHOWHGHQ.RSI 9LHOOHLFKWLVWHVVRGDGLHVH3IODQ]HGLH(QHUJLHEUDXFKWGLHLKUDXIGLHVH:HLVH]XJHIKUW ZLUG 8QGZR]XEUDXFKWGLH3IODQ]HGLH(QHUJLH" )UH\WVFKWWHOWHKLOIORVGHQ.RSI ,FKZHLHVQRFKQLFKWDEHULFKZHUGHHVVHKUEDOGZLVVHQ :DVKDVWGXYRU" *HEW PLU HLQH YRQ GHQ 6KDNRRWHHV VDJWH 0LFKDHO )UH\W 9LHOOHLFKW NDQQ LFK HXFK HWZDV VDJHQYLHOOHLFKWDXFKQLFKW$EHULFKZLOOMHW]WGLH:DKUKHLWZLVVHQ 5RG1\VVHQVDKVHLQHQ*HIlKUWHQQDFKGHQNOLFKDQ :DVPHLQVWGX&RQUDG" 'HULQJKRXVH]XFNWHPLWGHQ6FKXOWHUQ =XYHUOLHUHQKDEHQZLUZRKOQLFKWVPHKUVWHOOWHHUXQHUELWWOLFKIHVW8QGEHHLOHQPVVHQ
ZLU XQV DXFK (V LVW WDJKHOO REZRKO GLH 6RQQH QRFK QLFKW DXIJHJDQJHQ LVW ,Q HLQHU 6WXQGH ZLUGHVXQHUWUlJOLFKJHZRUGHQVHLQ 'DQQORVVDJWH0LFKDHO)UH\W*HEWPLUHLQHVYRQGHQ'LQJHUQ
(UHQWVSDQQWHGHQJDQ]HQ.|USHU(LQHQLHJHNDQQWH5XKHGXUFKIOXWHWHLKQ(QGOLFKZXWHHU ZDVHUKDWWHZLVVHQZROOHQ (UNDQQWHGDV*HKHLPQLVGHU6KDNRRWHHHUIKOWHHVLQGLHVHP$XJHQEOLFN 'DZDUGHU:LQGGHUEHUGLH(EHQHVWULFKGHUKHLH6FKHLQGHU6RQQHLQMHQHQ*HELHWHQ GLHJHUDGHEHVWUDKOWZXUGHQ'DZDUGLHVDQIWH.KOHGHV2]HDQV
0LWMHGHU)DVHUVHLQHV6HLQVVRJHUGLH,QIRUPDWLRQHQLQVLFKDXI(UZDUHLQVJHZRUGHQPLW GLHVHU :HOW PLW GHU JHVDPWHQ 1DWXU GHV 3ODQHWHQ :R LPPHU HV /HEHQ JDE DXI 6KDNRRWHH ZDU HV PLW GHQ %OXPHQ YHUEXQGHQ GLH GRUW ZXFKVHQ 6LH UHJLVWULHUWHQ DOOHV MHGH 9HUlQGH UXQJMHGHV:DFKVWXPMHGHQ:LQGEUXFK MHGHV8QZHWWHU (U VSUWH GHQ IHLQHQ 6FKPHU] GHQ GHU 3IOXJ HLQHV %DXHUQ LQ LKP KHUYRUULHI (U VSUWH HEHQIDOOVGHQ7RGHVVFKPHU]HLQHVNOHLQHQ1DJHUV GHULQGLHVHP$XJHQEOLFNYRQHLQHP9RJHO JHIDQJHQZXUGH (LQ 1HW]ZHUN YRQ 6KDNRRWHHV GXUFK]RJ GHQ 3ODQHWHQ XQG KLHU LQ GHP 7HPSHO OLHIHQ GLHVH ,QIRUPDWLRQHQ ]XVDPPHQ :DV IU 36,.UlIWH DP :HUN ZDUHQ ZXWH HU QLFKW DEHU GLHVH :XQGHUIXQNWLRQLHUWHQ (UYHUVWDQGMHW]WGLH$EOHKQXQJGHU7HUUDQHUGLHQLFKWVYRQGHQ6KDNRRWHHVZLVVHQZROOWHQ (UYHUVWDQGDXFKGDV:RUWYRQGHU8QWHUZHUIXQJ 'HQQGLH6KDNRRWHHVZDUHQGDV*HVHW]GHU1DWXUGDVOHEHQGH*HZLVVHQGHV3ODQHWHQ 1XUHLQH6SH]LHVJDEHVGLHIlKLJZDUGDV*OHLFKJHZLFKWGHU.UlIWHELV]XU.DWDVWURSKH]X YHUlQGHUQGDVZDUHQMHQH=ZHLEHLQHUGLHYRUYLHOHQ-DKU]HKQWDXVHQGHQKLHUJHODQGHWZDUHQ 6LH KDWWHQ GHQ %RGHQ DXIJHZKOW LQ LKUHU *LHU QDFK *ROG XQG HGOHQ 6WHLQHQ VLH KDWWHQ GLH 1DWXUWDXVHQGIlOWLJJHVFKlQGHWXQGYHUZVWHWRKQH5FNVLFKWDXIDQGHUH/HEHZHVHQ 'DVZXUGHQXQYHUKLQGHUW'LH6KDNRRWHHDP2KUGHV0HQVFKHQOLHLKQVSUHQZDVHUVLFK HUODXEHQ GXUIWH XQG ZDV QLFKW 0LW GHXWOLFKHQ ,PSXOVHQ VFKXI VLH LKP HLQ QDWUOLFKHV *HZLVVHQ 'HVKDOE EHIUDJWHQ GLH 0HQVFKHQ GLH 6KDNRRWHH ZDQQ LPPHU VLH LKUH )HOGHU EHVWHOOHQ XQG ]XU -DJG JHKHQ ZROOWHQ XQG GDV XQEHVWHFKOLFKH *HIKO GHU 6KDNRRWHH VDJWH LKQHQ ZDV VLH WXQ GXUIWHQ (V JDE NHLQ K|KHUHV /HEHQ RKQH GHQ 7RG 3IODQ]HQ ZXUGHQ JHIUHVVHQ 7LHUH YHUVFKOXQJHQ DXFK GHU 0HQVFK PXWH W|WHQ XP OHEHQ ]X N|QQHQ 'HU 5DKPHQDEHULQGHPHUW|WHWHXP]XOHEHQZXUGHYRQGHQ%OXPHQJHVWHFNW 8QGQRFKHLQHVEHJULIIHULQGLHVHP$XJHQEOLFN (UVWDUE $EHUHUK|UWHQLFKWDXI]XVHLQ'DV%HZXWVHLQJLQJEHULQGDV.ROOHNWLYGHUHUGLHPLWGHQ %OXPHQ YHUEXQGHQ ZDUHQ (V EOLHE HUKDOWHQ (U ZXUGH ]X HLQHP %HVWDQGWHLO MHQHV SODQHWHQXPIDVVHQGHQ :HVHQV GDV VLFK DXV 0LOOLDUGHQ NOHLQHU %OXPHQ ]XVDPPHQVHW]WH (U NRQQWHGLH1DWXUGHV3ODQHWHQHUIKOHQPLWMHGHU)DVHUVHLQHV6HLQV (U ZXWH GLH )UHXQGH DQ VHLQHU 6HLWH 1RFK OHEWHQ VLH LKU IUKHUHV /HEHQ DEHU HU ZXWH VFKRQGDHVEDOG]XLKPVWRHQZUGHQ,KPIHKOWHQMHW]WGLH)UHXQGHGLHYRULKPJHVWRUEHQ ZDUHQQLHPDQGYHUPRFKWH]XVDJHQZRLKUH%HZXWVHLQVLQKDOWHJHEOLHEHQZDUHQ 'LH DQGHUHQ DEHU KDWWHQ HLQ 6FKLFNVDO HUOHEW GDV HV IU LKQ HUNOlUOLFK PDFKWH ZDUXP 6KDNRRWHHGLH:HOWGHULPPHUZlKUHQGHQ8PDUPXQJJHQDQQWZXUGH (UZXWHZDVPLWLKPJHVFKHKHQZUGH9LHOH-DKUHKLQGXUFKZUGHHUQRFKGHUVHLQGHUHU ZDU DOV GHU /HEHQVIXQNH VHLQHQ .|USHU YHUOLH 8QG GDQQ ZUGH HU ODQJVDP XQPHUNOLFK DXIJHKHQ LP .ROOHNWLY GHU 6KDNRRWHH 'HQ hEHUJDQJ ZUGH HU QLFKW VSUHQ GLH DQGHUHQ KDWWHQLKQDXFKQLFKWJHVSUW (U IKOWH ZLH .UDIW VHLQ QHXHV /HEHQ GXUFKVWU|PWH 'LH 6RQQH ZDU DXIJHJDQJHQ XQG MHQH ZXQGHUYROOH0DVFKLQHULHDXVQDWUOLFKHQ*HJHEHQKHLWHQXQGSDUDQRUPDOHQ7ULFNVEHJDQQ]X DUEHLWHQ'DV6RQQHQOLFKWZXUGHGHUJURHQ6KDNRRWHH]XJHIKUWGHUHQ7HLOQXQDXFKHUZDU
6SlWHUZHQQHUVLFKDQGDV/HEHQLQGLHVHU)RUPJHZ|KQWKDWWHZUGHHUYLHOOHLFKWIUDJHQ ZHUGLHVDOOHVLQGLHVHU)RUPJHVFKDIIHQKDWWH-HW]WZDUHUGDUDQQLFKWLQWHUHVVLHUW (U ZDU HLQ 7HLO JHZRUGHQ GHU JURHQ 6KDNRRWHH GLH PLW VDQIWHU +DQG GDV /HEHQ DXI LKUHP 3ODQHWHQOHQNWH6LHVWUDIWHQLFKWGD]XEHVDVLHQLFKWGLH0DFKW6LHPDKQWHQXUXQDEOlVVLJ MHGHQPHQVFKOLFKHQ7UlJHUGHUVLFK]XP+HUUHQVHLQHU:HOWDXIVFKZLQJHQZROOWHXQGQLFKW EHJUHLIHQZROOWHGDHUHLQ%HVWDQGWHLOGLHVHU:HOWZDU 0LW VWLOOHU )UHXGH ZDUWHWH 0LFKDHO )UH\W LP .ROOHNWLY GHU 6KDNRRWHH DXI VHLQH )UHXQGH (U ZXWHGDVLHEDOGNRPPHQZUGHQ
'DVLVWGLH*HVFKLFKWHVDJWH.DPHHOHLVH'LH6KDNRRWHHKDWVLHPLUHU]lKOW 6LHOlFKHOWH'LH%OXPHKLQWHULKUHP2KUHUIOOWHVLH PLWHLQHP*HIKOGHULQQHUHQ6LFKHUKHLWGDVVLHELVKHUQLFKWJHNDQQWKDWWH6LHVDKDXIGDV %HWW9RQGHQ.|USHUQGHUGUHL0lQQHUGLHKLHUJHVWRUEHQZDUHQZDUOlQJVWQLFKWVPHKU]X VHKHQ ,KUH %HZXWVHLQVLQKDOWH KDWWHQ VLFK OlQJVW LP .ROOHNWLY DXIJHO|VW 'LH ,QGLYLGXHQ 0LFKDHO)UH\W &RQUDG'HULQJKRXVHXQG5RG1\VVHQJDEHVQLFKWPHKU 'DV LVW GHU *UXQG ZDUXP GLH 6KDNRRWHHV LP 6WUHLW OLHJHQ PLW GHQ 7HUUDQHUQ HUNOlUWH .DPHH'LH/HXWHYRQGHU,&$ZROOWHQVLFKGHQ3ODQHWHQXQWHUWDQPDFKHQZLHVLHHVYRQ GHU(UGHKHUJHZRKQWZDUHQ6LHZDUHQQLFKWEHUHLWGDV:HFKVHOVSLHODOOHUQDWUOLFKHQ.UlIWH DXFK DXI VLFK VHOEVW ]X EH]LHKHQ 6LH VLQG ]X HLQHU *HIDKU JHZRUGHQ IU GLH +DUPRQLH GHV 3ODQHWHQ GDV LVW GHU *UXQG ZDUXP GHU +RKH 7DDPDU ZHLQWH DOV HU XQV LP $XIWUDJ GHU JURHQ6KDNRRWHHGDV7RGHVXUWHLOIUDOOH7HUUDQHUYHUNQGHWH 'LH DQGHUHQ VDKHQ .DPHH YHUZXQGHUW DQ &DYXV ZDU RIIHQNXQGLJ YRQ 0LWUDXHQ HUIOOW 6KDNWDUKLQJHJHQVFKLHQ.DPHH]XJODXEHQ :DV WXQ ZLU MHW]W" IUDJWH
5HJLQDOG%XOOVDKYHUGURVVHQDXVGHP)HQVWHU'HU$XVEOLFNZDUDOOHVDQGHUHDOVEHUXKLJHQG $XI GHP %XUJKRI ZXUGH ZLH DQ MHGHP 7DJ WUDLQLHUW %RJQHU ZDUHQ DQ GHU $UEHLW LQ GHQ :HUNVWlWWHQ ZXUGHQ %RO]HQ JHVFKQLW]W XQG 5VWXQJHQ DQJHIHUWLJW 8QG LUJHQGZR LQ GHP ZHLWOlXILJHQ*HPlXHUVFKOLIIGHU+HQNHUDQVHLQHP6FKZHUW 0DQKDWWHGLH7HUUDQHUHLQJHVSHUUWXQG%XOO\ZDUVRJDUYRQGHQDQGHUHQDEJHWUHQQWZRUGHQ
/DQJHZHLOHSODJWHGHQ0DQQPLWGHQEODXHQ$XJHQXQGGHPURWHQ%UVWHQKDDU 5HJLQDOG%XOOZXWHGDHUQDFKGHP:LOOHQGHV+RKHQ7DDPDUVQRFKHLQHQ7DJ]XOHEHQ KDWWH :DUHQ .DPHH 1\VVHQ XQG LKUH )UHXQGH ELV GDKLQ QLFKW ]XUFN ZDU %XOO\V .RSI YHUZLUNW (V ZDU LKP HLQ 5lWVHO ZDV GLH MXQJHQ /HXWH EHUKDXSW WXQ VROOWHQ ZRULQ GLH &KDQFHEHVWDQGGLHGHQ7RGJHZHLKWHQDQJHEOLFKHLQJHUlXPWZRUGHQZDU (LQODXVLJHV1HVWNQXUUWH%XOO\ 6HLQH =HOOH ZDU UHFKW JHUlXPLJ YLHU 0HWHU ODQJ IQI 0HWHU EUHLW (U NRQQWH GDULQ VSD]LHUHQJHKHQ PHKU DEHU DXFK QLFKW (V JDE QXU HLQ %HWW LQ GHP 5DXP VRQVW QLFKWV $XI GHP)HQVWHUEUHWWDOOHUGLQJV VWDQG%XOO\KDWWHHVQLFKWDQGHUVHUZDUWHWHLQH6KDNRRWHH 2IIHQEDU ZDU GDV DOV $QJHERW JHGDFKW DEHU 5HJLQDOG %XOO GDFKWH QLFKW GDUDQ YRQ GLHVHP $QJHERW*HEUDXFK]XPDFKHQ(UYHUIOXFKWHLPVWLOOHQGLH7DWVDFKHGDHUEHUKDXSWNHLQH 0|JOLFKNHLWPHKUKDWWHLQGDV*HVFKHKHQHLQ]XJUHLIHQ(VJDEHLQHQW|GOLFKHQ:HWWODXIPLW GHU=HLWXPVHLQHQ.RSIDEHUHUVHOEVWZDUQLFKWLQGHU/DJHDXFKQXUGDV*HULQJVWH]XWXQ (UPXWHRKQPlFKWLJVHKHQZLHPDQVHLQH([HNXWLRQYRUEHUHLWHWH 8QUXKLJJLQJ%XOO\LP5DXPDXIXQGDE$EXQG]XZDUIHUHLQHQ%OLFNQDFKGUDXHQ 9RUGHQ7RUHQGHU6WDGW%XOO\NRQQWHHVJHUDGHQRFKVHKHQZDUHQGLH%DXHUQPLWGHU(UQWH EHVFKlIWLJW (LQ %LOG GHV )ULHGHQV DEHU ZHQLJ WU|VWOLFK IU 5HJLQDOG %XOO %XOO\ VDK QLFKW DOO]XRIWDXIGLH8KUDEHUHQWVFKLHGHQKlXILJHUDOVHUHVQRUPDOHUZHLVHJHWDQKlWWH'LH=HLW YHUVWULFKHQWVHW]OLFKODQJVDP 3O|W]OLFKZXUGHHVLP+RIODXW5XIHZDUHQ]XK|UHQGDQQ:DIIHQNOLUUHQ%XOO\]|JHUWHHLQHQ $XJHQEOLFNGDQQKDVWHWHHU]XP)HQVWHU $XIGHP+RIZDUJHUDGHHLQ5HLWHUDQJHNRPPHQ'HU0DQQZDUVLFKWOLFKHUUHJWVHLQ*DKDU WURIIYRQ6FKZHL %XOO\YHUVXFKWH]XYHUVWHKHQZDVGHU5HLWHUVDJWH(UVDKZLHGHU%RWHPLWGHQ+lQGHQHLQH .XJHOJHVWDOWIRUPWH %XOO\V /LSSHQ YHU]RJHQ VLFK ]X HLQHP /lFKHOQ (QGOLFK GDV 6FKLII YRQ 7HUUl ZDU JHNRPPHQ'HU)DOO6KDNRRWHHZDUDXVJHVWDQGHQ,QHLQSDDU6WXQGHQNRQQWHHUHLQKHLHV %DG QHKPHQ XQG VLFK HLQHQ :KLVN\ VHLQHU /LHEOLQJVPDUNH J|QQHQ YRUDXVJHVHW]W GHU .PPDQGDQWGHV5HWWXQJVVFKLIIVKDWWHLQZHLVHU9RUDXVVLFKWGDYRQPLWJHQRPPHQ 5HJLQDOG %XOO ULHE VLFK GLH +lQGH (U ZDU ]XIULHGHQ PLW VLFK VHOEVW 'DV ZDU JHUDGH QRFK HLQPDOJXWJHJDQJHQ.QDSS]ZDUDEHULPPHUKLQ $XIGHP+RIVWU|PWHQ%HZDIIQHWH]XVDPPHQ2IIHQEDUKDWWHGHU%RWH*URDODUPDXVJHO|VW %XOO\ UHJLVWULHUWHHVPLWWLHIHU%HIULHGLJXQJ(UZDUJHVSDQQWZLHVLFKGHU+RKH7DDPDULQ GLHVHU/DJHYHUKDOWHQZUGH $XIGHP*DQJYRU%XOO\V=HOOHZXUGHHVHEHQIDOOVODXW2IIHQEDUNDPHQGLH6KDNRRWHHVXP %XOO\DE]XKROHQ5HJLQDOG%XOOOHKQWHVLFKJHJHQGLH0DXHUXQGJULQVWHYHUJQJW(UJ|QQWH GHP&KHIGHU6KDNRRWHHVGLHVH1LHGHUODJH 'LH7UZXUGHJH|IIQHWXQGVFKZDQJ]XU6HLWH'HU+RKH7DDPDUZDUVHOEVWHUVFKLHQHQXP VHLQHQSURPLQHQWHQ*HIDQJHQHQ]XEHVXFKHQ (VLVWHLQJURHU.|USHUDXIXQVHUH:HOWQLHGHUJHJDQJHQVDJWHGHU7DDPDURKQH9RUUHGH (VVLQG/HXWHLQGLHVHP.|USHU:HLWGXGDYRQ" %XOO\JULQVWHQRFKEUHLWHU )UHXQGHYRQPLUVDJWHHUKHUDXVIRUGHUQG6LHVLQGJHNRPPHQXPPLFK]XKROHQ 'HU+RKH7DDPDUVDKLKQWUDXULJDQ ,FKZHLQLFKWREHVLKQHQJHOLQJHQZLUGVDJWHHU'DQQZDQGWHHUVLFKDQGLH:DFKHQ (UJUHLIWLKQ +HULHI%XOO\:DVVROOGDVKHLHQ" %LQGHW GHQ *HIDQJHQHQ VDJWH GHU +RKH 7DDPDU (U VDK 5HJLQDOG %XOO GXUFKGULQJHQG DQ 'XZLUVWGHLQH/HXWH]XUFNVFKLFNHQ 'DV ZHUGH LFK QLFKW WXQ EHVWLPPWH 5HJLQDOG %XOO (U ZROOWH GLH 0HXWH ZHQLJVWHQV HLQ
ELFKHQ EHVFKlIWLJHQ $OVR UDQQWH HU GHQ HUVWHQ 6ROGDWHQ XP XQG GHQ ]ZHLWHQ OLH HU EHU VHLQ DXVJHVWUHFNWHV %HLQ VWROSHUQ 'DQQ KXVFKWH 5HJLQDOG %XOO LQ :LQGHVHLOH DQ GHP YHU EOIIWHQ6WDGWN|QLJYRUEHLDXIGHQ*DQJ (UKDWWH*OFN'HU7DDPDUKDWWHQXUYLHU:DFKHQPLWJHQRPPHQXQGGLHZDUHQYRQ%XOO\V )OXFKW Y|OOLJ EHUUXPSHOW ZRUGHQ 'LH )OXFKW ZDU VLQQORV GHQQ HV JDE +XQGHUWH YRQ %HZDIIQHWHQ LQ GHU %XUJ XQG VHOEVW %XOO\ UHFKQHWH QLFKW GDPLW WDWVlFKOLFK LQV )UHLH ]X NRPPHQ $EHU HU ZROOWH GHQ 6KDNRRWHHV ZHQLJVWHQV ]X WXQ JHEHQ XQG GDV P|JOLFKVW JUQGOLFK %XOO\ UDQQWH GHQ *DQJ KLQXQWHU GDQQ ZDQGWH HU VLFK QDFK OLQNV (LQH 7UHSSH KLQDXI GDQQ ZLHGHU QDFK UHFKWV (U VDK HLQLJH .QHFKWH GLH LKQ YHUZXQGHUW DQVWDUUWHQ DEHU %XOO\ NPPHUWHVLFKQLFKWGDUXP(UUDQQWHZHLWHU (UIDQGHLQHZHLWHUH7UHSSHGLHGLHVPDOLQGLH7LHIHIKUWH%XOO\MDJWHGLHVWHLQHUQHQ6WXIHQ KLQDE GDQQ ZLHGHU QDFK OLQNV YRUEHL DQ ]ZHL HQWJHLVWHUWHQ )UDXHQ GLH HLQHQ VFKZHUHQ :lVFKHNRUEVFKOHSSWHQ(LQ3RVWHQVWHOOWHVLFK%XOO\LQGHQ:HJZXUGH]X)DOOJHEUDFKWXQG NROOHUWHLQVHLQHU5VWXQJODXWVWDUNGLH7UHSSHKLQXQWHU %XOO\VFKOXJ+DNHQZRLPPHUHUQXUNRQQWH,QZHOFKHP7HLOGHU%XUJHUVLFKDXIKLHOWZDU LKPXQEHNDQQWDEHUHUZXWHGDMHW]WGLHJHVDPWH%HZRKQHUVFKDIWQDFKLKPVXFKWH $QHLQHU6lXOHEOLHE%XOO\IUHLQSDDU$XJHQEOLFNHVWHKHQXPQDFK/XIW]XVFKQDSSHQ (UEUDXFKWHHLQZHQLJ=HLW9HUPXWOLFKZDUGDV6FKLIILQGHU1lKHGHU085*'23<$=$ JHODQGHWYRQGDELV]XU6WDGW0DFKOLNL7LNNDEUDXFKWHPDQPLWHLQHP*OHLWHUK|FKVWHQVHLQH 6WXQGH9HUPXWOLFKOLHVLFKGHU.RPPDQGDQWDEHUPHKU=HLWZHLOHUGLH(LQJHERUHQHQQLFKW W|WHQ ZROOWH GLH .RPPDQGDQWHQ WHUUDQLVFKHU 6FKLIIH KDWWHQ VHLW ODQJHP HQWVSUHFKHQGH $QZHLVXQJHQ 'HU%RWHEUDXFKWHZHQQHUVHLQ*DKDUIDVW]X7RGHKHW]WHHLQLJH6WXQGHQYRQGHU085* ELV0DFKOLNL7LNNDIROJOLFKNRQQWHGHU*OHLWHUVHKUEDOGHLQWUHIIHQ %XOO\MDJWHZHLWHU (U GXUFKTXHUWH GLH :lVFKHUHL ZR HU XQWHU GHQ 0lJGHQ HLQH $UW 3DQLN DXVO|VWH GDQDFK YHUVFKZDQGHULQHLQHPODQJHQGXQNOHQ*DQJGHULQV1LUJHQGZRIKUWH $OV HU ZLHGHU HWZDV ]X VHKHQ EHNDP HUNDQQWH 5HJLQDOG %XOO GD VLFK VHLQH /DJH ZHQLJ YHUEHVVHUW KDWWH (U ZDU QlPOLFK DXI GHP +RI GHU %XUJ KHUDXVJHNRPPHQ XQG GRUW ZDUWHWH LQ]ZLVFKHQHLQNOHLQHV+HHUDXIGLH$QN|PPOLQJH 5HJLQDOG %XOO ZROOWH VHLQH +DXW VR WHXHU ZLH P|JOLFK YHUNDXIHQ $OVR JULII HU ]XU Ql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lQJH QDFK DXI GHP %RGHQ (LQ SDDU $XJHQEOLFNHVSlWHUZDUHUJHIHVVHOW 6LH VWHOOWHQ LKQ DXI GLH %HLQH :lKUHQG GLH 6ROGDWHQ ZLHGHU GHQ 7KURQ IU GHQ 6WDGWN|QLJ DXIEDXWHQ ZXUGHQ DXV GHQ 9HUOLHVHQ GHU %XUJ GLH *HIDQJHQHQ DQV 7DJHVOLFKW JHEUDFKW (V ZDU HLQ WUDXULJHU =XJ GLH 0HQVFKHQ ZDUHQ QLHGHUJHVFKODJHQ GHU JU|WH 7HLO DEJHVWXPSIW 'LH7DJHGHU+DIWKDWWHQGHQ7HUUDQHUQDUJ]XJHVHW]W 'HU7DDPDUHUVFKLHQDXIGHU%LOGIOlFKHXQGKLQWHU LKP WDXFKWH GHU 0DQQ DXI GHU %XOO\ DP ZHQLJVWHQ V\PSDWKLVFK ZDU HLQ +QH PLW HLQHU .DSXW]HEHUGHP.RSIXQGHLQHPODQJHQ6FKZHUWEHUGHU6FKXOWHU'HU+HQNHUYRQ0DFKOL NL7LNND
7HXIHO DXFK NQXUUWH 5HJLQDOG %XOO (U DKQWH GD VLFK GHU +RKH 7DDPDU HWZDV KDWWH HLQIDOOHQODVVHQXPDXFKGLHVHU+HUDXVIRUGHUXQJEHJHJQHQ]XN|QQHQ %XOO\ZXUGHYRUGHQ7DDPDUJHVFKOHSSW (V KDW GLU QLFKWV JHQW]W OLH GHU 7DDPDU VDJHQ 'X NDQQVW XQV QLFKW HQWNRPPHQ XQG GHLQH +DQGOXQJVZHLVH EHZHLVW XQV GD GX XQVHU )HLQG ELVW 'X ZLUVW GHLQH /HXWH GDKLQ ]XUFNVFKLFNHQZRKHUVLHJHNRPPHQVLQG 'DV ZHUGH LFK VLFKHUOLFK QLFKW WXQ EHKDUUWH %XOO\ 'HU +RKH 7DDPDU ]XFNWH QXU PLW GHQ 6FKXOWHUQ %XOO\ ZXUGH KHUXPJHGUHKW XQG VR DXIJHVWHOOW GD HU QHEHQ GHQ 6WDGWN|QLJ ]X VWHKHQ NDP 'LH *HVLFKWHU ZDUHQ GHP %XUJWRU ]XJHNHKUW 'HU +HQNHU YRQ 0DFKOL NL 7LNND QDKP XQPLWWHOEDU KLQWHU %XOO\ $XIVWHOOXQJ 5HJLQDOG %XOO VSUWH ZLH VLFK VHLQH +DDUH DXIVWHOOWHQ 'DQQZXUGHGDV%XUJWRUJH|IIQHW 'LHOLQGJUQH8QLIRUPHUNDQQWH%XOO\DXIGHQHUVWHQ%OLFN7HUUDQHU$QJHK|ULJHGHU6RODUHQ )ORWWH6LHZDUHQDOVRGRFKJHNRPPHQJHUDGHQRFKUHFKW]HLWLJ (V ZDUHQ ]HKQ 0DQQ $Q GHU 6SLW]H PDUVFKLHUWH GHU .RPPDQGDQW GHV 6FKLIIHV HLQ KRFKJHZDFKVHQHU6FKZDU]HU 'LH 0lQQHU VDKHQ 5HJLQDOG %XOO KWHWHQ VLFK DEHU GLHV HUNHQQHQ ]X ODVVHQ ,Q JHRUGQHWHU )RUPDWLRQ VFKULWWHQ VLH GXUFK GLH 5HLKHQ GHU 6KDNRRWHHV XQG PDFKWHQ HUVW XQPLWWHOEDU YRU GHP+RKHQ7DDPDUKDOW%XOO\NRQQWHVHKHQGDGHU.RPPDQGDQWHLQHQNOHLQHQ7UDQVODWRU WUXJ'DVZUGHGLH8QWHUKDOWXQJHUKHEOLFKYHUHLQIDFK (V GDXHUWH HLQH NQDSSH 6WXQGH ELV VR YLHOH :RUWH JHZHFKVHOW ZDUHQ GD HLQH ZLUNOLFKH 8QWHUKDOWXQJEHJLQQHQNRQQWH 'HU.RPPDQGDQWGHV7HUUD6FKLIIHVHQWERWGHP+RKHQ7DDPDUVHLQHQ*UX'HU7DDPDU JUWH]XUFNZHQQDXFKGHXWOLFKNlOWHUDOVGHU7HUUDQHU :DVIKUWHXFKKHU"IUDJWHGHU7DDPDU :LUZROOHQ)UHXQGHDEKROHQGLHDXIGLHVHU:HOWJHODQGHWVLQGVDJWHGHU2EHUVWIUHXQGOLFK 'RUWVWHKWHLQHUGLHVHU)UHXQGH 'XQHQQVWLKQ)UHXQGRKQH]XZLVVHQZDVHUJHWDQKDW"(ULVW]XP7RGHYHUXUWHLOW 'HU2EHUVWZDQGWHGHQ.RSI(UVDK%XOO\DQ6LUEHJDQQHUGDQQ7ULIIWGDV]X" $OOHUGLQJVVDJWH%XOO\:LUDOOHKLHUVROOHQKLQJHULFKWHWZHUGHQLFKDOVHUVWHU 'HU 2EHUVW VFKOXFNWH +DW HV HLQ 9HUIDKUHQ JHJHEHQ" %XOO\ ]ZLQNHUWH YHUEOIIW :DV VROOGDVKHLHQ"9HUIDKUHQ" 6LUVROOWHQ6LHLQHLQHPRUGQXQJVJHPlHQ9HUIDKUHQGLHVHV3ODQHWHQQDFKGHQ6SLHOUHJHOQ GLHKLHUJHOWHQYHUXUWHLOWZRUGHQVHLQGDQQPVVHQZLUGDVOHLGHUDQHUNHQQHQ 6LQG 6LH EHUJHVFKQDSSW" IUDJWH %XOO\ IDVVXQJVORV 'DV LVW JHOWHQGHV 5HFKW LP 6RODUHQ ,PSHULXP VDJWH GHU 2IIL]LHU VLFKWOLFK QHUY|V :LU VLQG JHKDOWHQ GLH 5HFKWVVRXYHUlQLWlW DOOHU9|ONHU]XEHDFKWHQPLWGHQHQZLUHV]XWXQKDEHQ6LHZlUHQMDDXFKQLFKWGDIUGD MHGHU]HLW)UHPGHNRPPHQXQGXQVHUH8UWHLOHDXIKHEHQ 6LHN|QQHQPLFKGRFKQLFKWGLHVHQ/HXWHQEHUODVVHQULHI%XOO\HPS|UW'LHVLQGKLQWHU PHLQHP.RSIKHU 'HU2EHUVW]XFNWHPLWGHQ6FKXOWHUQ 6LUHVLVWNHLQVFKOHFKWHU:LW]ELWWHJODXEHQ6LHPLUGDV(VLVWWDWVlFKOLFKVR6LHVLQGYRQ GLHVHQ/HXWHQRUGQXQJVJHPlYHUXUWHLOWXQGGDVPVVHQZLUDQHUNHQQHQ8QVVLQGGLH +lQGH (UEUDFKWHGHQ6DW]QLFKW]X(QGHGHQQ%XOO\EHGDFKWHLKQPLWHLQHP%OLFNGHUXQJH]JHOWH 0RUGOXVWYHUULHW ,VWHVXQVJHVWDWWHWIUGHQ0DQQXP*QDGH]XELWWHQIUDJWHGHU2EHUVW 'HU+RKH7DDPDUOHKQWHVLFK]XUFN 1HLQVDJWHHUXQJHUKUW(VZLUGNHLQH*QDGHJHJHEHQ0RUJHQZLUGGLHVHU0DQQVWHUEHQ XQGPLWLKPGLHDQGHUHQ 'DVJLEWHLQ%OXWEDG2EHUVWVDJWH%XOO\]lKQHNQLUVFKHQG,FKELQJHVSDQQWZLHVLHGDV
3HUU\5KRGDQYHUNDXIHQZHUGHQ (LQHUGHU%HJOHLWHUGHV2EHUVWWUDWDQVHLQHQ9RUJHVHW]WHQKHUDQXQGIOVWHUWHLKPHWZDVLQV 2KU6RIRUWKHOOWHQVLFKGLH*HVLFKWV]JHGHV2EHUVWDXI .|QQHQZLUQDFKGLHVHU8QWHUKDOWXQJXQEHKHOOLJWZLHGHUDE]LHKHQ"IUDJWHGHU2EHUVW-HW]W HUVWNRQQWH%XOO\GDV1DPHQVVFKLOGFKHQOHVHQ-DNXQ$VVRQVWDQGGRUW]XOHVHQ%XOO\QDKP VLFKYRUGHQ1DPHQQLFKW]XYHUJHVVHQ 6HOEVWYHUVWlQGOLFKVDJWHGHU+RKH7DDPDU*HVDQGWVFKDIWHQVLQGXQYHUOHW]OLFK $VVRQGHXWHWHDXI5HJLQDOG%XOO 'LHVHU 0DQQ LVW HLQHU XQVHUHU *HVDQGWHQ VDJWH HU IUHXQGOLFK (U JHQLHW GHPQDFK GHQ JOHLFKHQ6FKXW]ZLHZLU 'HU+RKH7DDPDUEDOOWHGLH)lXVWH6HLQ%OLFNVFKLHQ5HJLQDOG%XOOGXUFKERKUHQ]XZROOHQ (VLVWJXWHUNDQQJHKHQ'LHVHGRUWZHUGHQEOHLEHQ%LQGHWLKQORV 5HJLQDOG%XOOULHEVLFKDOVHUVWHVGLHVFKPHU]HQGHQ+DQGJHOHQNHQDFKGHPPDQVHLQH)HVVHO JHO|VWKDWWH'DQQWUDWHU]XGHP2EHUVWXQGVFKWWHOWHLKPGLH+DQG 6HKUJXWJHPDFKWVDJWH5HJLQDOG%XOOOLHEHQVZUGLJ$XHURUGHQWOLFKGLSORPDWLVFK-HW]W ZHUGHLFK,KQHQHLQPDO]HLJHQZLHPDQGDVULFKWLJPDFKW (UQDKPGHPQl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|QLJ KDUW $EHU VLH ZHUGHQ VWHUEHQXQGZHQQLKUXQVDQJUHLIWZLUGHVHXFKQLFKWEHVVHUHUJHKHQ :DVQXQ"IUDJWHGHU2EHUVWOHLVH6LHVLQGLQGHUhEHU]DKO ZLUN|QQHQQLFKWVPDFKHQ :LU N|QQHQ GLHVH /HXWH XQP|JOLFK LQ GHU *HZDOW GHU 6KDNRRWHHV ODVVHQ KLHOW %XOO\ LKP HQWJHJHQ(UVSUDFK(QJOLVFKXQGDXIGLHVH6SUDFKHZDUGHU7UDQVODWRUQLFKWHLQJHVWHOOW(V VLQG0HQVFKHQZLHZLUXQGGLHVH/HXWHKDVVHQVLH 'DVPDJDOOHVULFKWLJVHLQEHKDUUWHGHU2EHUVW$EHUXQVHUH%HIHKOHVLQGOHLGHUHLQGHXWLJ :LUGUIHQXQVQLFKW,QGLHLQQHUHQ$QJHOHJHQKHLWHQIUHPGHU9|ONHUHLQPLVFKHQREHVXQV SDWRGHUQLFKW %XOO\ PXUPHOWH HLQHQ )OXFK 0LW HLQHU GHUDUWLJHQ (QWZLFNOXQJ KDWWH HU QDWUOLFK QLFKW JHUHFKQHW=ZDUKlWWHHUYHUVXFKHQN|QQHQGLH*HIDQJHQHQIUHL]XNlPSIHQDEHUXQWHUGLHVHQ 8PVWlQGHQZDUGHU9HUVXFKHLQKRIIQXQJVORVHV8QWHUIDQJHQ 2EHQGUHLQ ILHO 5HJLQDOG %XOO VLHGHQGKHL HLQ GD GD DXFK QRFK GLH MXQJHQ /HXWH ZDUHQ .DPHH1\VVHQXQGLKUH)UHXQGH:DUHQVLHEHUKDXSWQRFK]XUHWWHQ" :LU ZROOHQ GLH $QJHOHJHQKHLW IULHGOLFK EHHQGHQ VDJWH 5HJLQDOG %XOO :DUXP LVW HV IU HXFKZLFKWLJGLHVH0HQVFKHQ]XW|WHQ" 6LHZROOHQVLFKQLFKWXQWHUZHUIHQODXWHWHGLHNODUH$QWZRUW *XWDEHUZHQQZLUVLHPLWQHKPHQLVWGRFKGDVJOHLFKH(UJHEQLVHUUHLFKW6LHZHUGHQDXFK QLFKWOlQJHUVW|UHQ :LU ZROOHQ DEHU QLFKW PLWJHQRPPHQ ZHUGHQ HUHLIHUWH VLFK %LOJLU (TUHP XQG GDV *HPXUPHOLQGHQ5HLKHQGHU*HIDQJHQHQEHZLHVGDGLH0HKUKHLWLKP]XVWLPPWH 'HU+RKH7DDPDUOlFKHOWH
'XVLHKVWHV0DQQPLWGHP)HXHUKDDU6LHZROOHQQLFKWJHKHQVLHZROOHQEOHLEHQ:LUDEHU ZHUGHQLKUH$QZHVHQKHLWQLFKWOlQJHUGXOGHQ'LH*URH6KDNRRWHHKDWGDVVREHVWLPPW 'DVLVWQLFKWZDKU %XOO\ IXKU KHUXP (U UL GLH $XJHQ ZHLW DXI ,P (LQJDQJ GHU %XUJ ZDU .DPHH 1\VVHQ HUVFKLHQHQ2IIHQEDUZDUGLH6WDGWOHHUYRQ0HQVFKHQDOOHVGUlQJWHVLFKDXIGHP%XUJKRI 6RZDUHQGLHMXQJHQ/HXWHXQEHKHOOLJWELV]XU%XUJYRUJHGUXQJHQ 5HJLQDOG %XOO EHUIORJ KDVWLJ GLH *HVLFKWHU 1LHPDQG IHKOWH (U VWLH HLQHQ 6HXI]HU GHU (UOHLFKWHUXQJDXV
.DPHH1\VVHQWUXJHLQHIODFKH6FKDOHLQGHU+DQG'DULQZXFKVHLQH6KDNRRWHH /DQJVDP NDP GLH MXQJH )UDX QlKHU %XOO\ VWHOOWH HQWVHW]W IHVW GD HLQLJH DXV GHU *UXSSH RIIHQEDU GLH )URQWHQ JHZHFKVHOW KDWWHQ 6KDNWDU 'HULQJKRXVH EHLVSLHOVZHLVH WUXJ HEHQIDOOV HLQH6KDNRRWHH 'LHV LVW GLH 6KDNRRWHH VDJWH .DPHH 6LH ULFKWHWH LKUH $XJHQ DXI 5HJLQDOG %XOO 8QG GLHVLVWDXFKDOOHVZDVYRQGHLQHQDOWHQ)UHXQGHQJHEOLHEHQLVW 5HJLQDOG%XOOVWUHFNWHGLH+lQGHQDFKGHU6FKDOHDXV]XFNWHGDQQDEHU]XUFN :LU KDEHQ XQV IXUFKWEDU JHLUUW VDJWH .DPHH 'LHVH 3IODQ]H GLH YRU YLHOHQ -DKU]HKQWDXVHQGHQ HLQH $UW NROOHNWLYHU ,QWHOOLJHQ] HQWZLFNHOW KDW LVW NHLQ )HLQG GHU 0HQVFKHQ6LHLVWYLHOPHKUGHUHQ)UHXQG 'DVLVWQLFKWZDKUVFKULH%LOJLU(TUHP/JH 'LHVH 3IODQ]H KDW GDV JDQ]H /HEHQ DXI GHP 3ODQHWHQ XQWHU %HZDFKXQJ VDJWH .DPHH 6LH WXW GDEHL QLFKWV DXHU HLQHP VLH YHUPLWWHOW GDV *HIKO IU ULFKWLJHV 9HUKDOWHQ LP 8PJDQJPLWDQGHUHQ*HVFK|SIHQ %OXWElGHUDQULFKWHQZLH"IUDJWH5HJLQDOG%XOO'LHVH/HXWHVDJWH.DPHHXQGGHXWHWH DXI GLH *HIDQJHQHQ KDEHQ VLFK LQ IDWDOHU 9HUNHQQXQJ GHU /DJH YRQ $QIDQJ DQ JHJHQ GLH 1DWXU GHV 3ODQHWHQ DXIJHOHKQW VLH ZDUHQ XQG VLQG HLQ JHIlKUOLFKHU )UHPGN|USHU (V ZDU 1RWZHKUGDGLH6KDNRRWHHGHQ/HXWHQGLHVHV8OWLPDWXPJHVWHOOWKDWHQWZHGHU(LQRUGQXQJ LQGDV/HEHQGHV3ODQHWHQRGHUDEHU$XVO|VFKXQJGHV/HEHQV 6HKU IULHGOLFK VFKHLQW GLH 6KDNRRWHH QLFKW ]X VHLQ NQXUUWH %XOO\ :R]X VRQVW GLHVH :DIIHQ" .DPHHOlFKHOWHWUDXULJ (VVFKHLQWLQGHU1DWXUGHU0HQVFKHQ]XOLHJHQVLFK]XEHNlPSIHQVDJWHVLH8QG HV KDQGHOWVLFKEHL GLHVHQ :HVHQ XP 0HQVFKHQ 'LH 6KDNRRWHH NDQQ VLH QLFKW GDUDQ KLQGHUQ XQWHUHLQDQGHU .ULHJH]XIKUHQDEHU VLH NDQQ KHOIHQ GLH )ROJHQ ]X PLOGHUQ 6LH OlW HV QLFKW ]X GD HLQH GHU 6WlGWH GLHVHV 3ODQHWHQ YHUVXFKW JU|HU XQG VWl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lQJH GLHYRQGHU3IODQ]HJHI|UGHUWZXUGH"
,FKZHUGHHVGLUYRUPDFKHQDOWHU0DQQVDJWH.DPHHOHLVH6LHQDKPGLH6KDNRRWHHDXV GHU 6FKDOH XQG VHW]WH VLH VLFK DQ 5HJLQDOG %XOO ZROOWH VLH GDUDQ KLQGHUQ DEHU .DPHH ZDU VFKQHOOHU (V LVW NHLQH 6NODYHUHL VDJWH .DPHH 'LH %OWH DQ LKUHP 2KU |IIQHWH VLFK XQG EHZHJWH VLFKOHLFKWLP:LQG(VLVWHWZDVJDQ]DQGHUHV,FKZHUGHGLUGLH%OXPHZLHGHUDEQHKPHQ ZHQQGXVLHQLFKWWUDJHQZLOOVW'DVJHKWQLFKWHQWJHJQHWH(TUHP1LHPDQGGHUMHPDOV GLHVH%OXPHVRJHWUDJHQKDWNRQQWHVLFKZLHGHUYRQLKUEHIUHLHQ :RUWORVQDKP.DPHHGLH%OXPHZLHGHUDE 'XNDQQVWVDJWHVLHKDOEODXW*HNRQQWKlWWHQVLHHVVFKRQDEHUVLHZROOWHQVLFKQLFKWPHKU GDYRQ WUHQQHQ ,VW GDV NHLQH 6NODYHUHL" IUDJWH (TUHP .DPHH ZXWH GDUDXI QLFKWV ]X DQWZRUWHQ (V ZDU &DYXV GHU HLQH $QWZRUW IDQG 2KQH VLFK XP GLH HPS|UWHQ 5XIH VHLQHU )DPLOLH ]X NPPHUQ JLQJ HU ]X .DPHH XQG QDKP LKU GLH 6KDNRRWHH DXV GHU +DQG (LQHQ $XJHQEOLFNVSlWHUKDWWHVLFKGLH3IODQ]HPLWVHLQHP/HLEYHUEXQGHQ &DYXV]XFNWH]XVDPPHQDOVVHLHUYRP6FKODJJHWURIIHQZRUGHQ(UULGLH$XJHQZHLWDXI 'XKDWWHVWUHFKW.DPHHVDJWHHU:DVIU1DUUHQZLUGRFKJHZHVHQVLQG /HJVLHDE-XQJH"ULHIHLQHlOWHUH)UDXDXVGHQ5HLKHQGHU*HIDQJHQHQ:LUIGLH 7HXIHOVEOXPHZHJ ,FKGHQNHQLFKWGDUDQVDJWH&DYXV 1XQZDVKDEHLFKJHVDJWK|KQWH(TUHP&DYXVVDKGHQDOWHQ0DQQQDFKGHQNOLFKDQ 'DQQVFKORHUGLH$XJHQXQGVHKUEHKXWVDPQDKPHUGLH6KDNRRWHHYRQVHLQHP.RSI (VWXWZHKZHQQPDQVLFKYRQLKUWUHQQHQPXVDJWHHUOHLVH'XVROOWHVWHQGOLFK GHLQHQ)HKOHUHUNHQQHQEHYRUHV]XVSlWLVW 5HJLQDOG%XOOWUDWKHUDQ(UZDUJHVSDQQWZLHGHU$OWHUHDJLHUHQZUGH :LOOVWGXHVQLFKWYHUVXFKHQ" 5HJLQDOG%XOOVDKDXIGLH3IODQ]HLQ.DPHHV+DQG%HVWHQ'DQNVDJWHHU'DVLVWQLFKWV IUPLFK'XN|QQWHVWHLQ%HLVSLHOGDPLWJHEHQVDJWH.DPHH5HJLQDOG%XOOQDKPGLH 3IODQ]HLQGLH+DQG.RQQWHHUGDV5LVLNRHLQJHKHQ"1RWIDOOVZUGHHUDXIGHP3ODQHWHQ EOHLEHQPVVHQZHQQHURKQHGLH3IODQ]HQLFKWPHKUDXVNDP$XHUGHPJDEHVYLHOIlOWLJH 0|JOLFKNHLWHQHWZDVJHJHQHLQHVROFKH6XFKW]XXQWHUQHKPHQKRIIWHHUMHGHQIDOOV(LQHV VWDQGDOOHUGLQJVLQGLHVHP$XJHQEOLFNVFKRQIHVWHUNRQQWHPLWGLHVHU+DQGOXQJVFKODJDUWLJ GDVJHVDPWH3UREOHPO|VHQ 5HJLQDOG %XOO VHW]WH VLFK GLH 6KDNRRWHH DXI GHQ $UP (U ZROOWH VLH QLFKW DP .RSI WUDJHQ ZLHGLHDQGHUHQHUZROOWHGHXWOLFKPDFKHQGDHVVLFKQXUXPHLQHQ7HVWKDQGHOWHXPQLFKW PHKU (UVFKORGLH$XJHQDOVGLH:LUNXQJLKQEHUVFKZHPPWH 5HJLQDOG%XOOYHU]RJGDV*HVLFKW]XHLQHP/lFKHOQ -DGXKDVWUHFKWVDJWHHUOHLVH(VLVWNHLQH6NODYHUHL .DPHHOlFKHOWH]XIULHGHQ
'HU =XJ EHZHJWH VLFK ODQJVDP DXI GDV 6FKLII ]X (V ZDUHQ +XQGHUWH YRQ 0HQVFKHQ GLH 5HJLQDOG %XOO GDV *HOHLW JHEHQ ZROOWHQ 6KDNRRWHHV XQG 7HUUDQHU ULWWHQ HLQWUlFKWLJ QHEHQHLQDQGHU 5HJLQDOG%XOOSILIIYHUJQJW 6HLQH/DXQHZDUEHVWP|JOLFK'DV3UREOHPGHU6KDNRRWHHZDUJHO|VWGLH7HUUDQHUKDWWHQ VLFKGHUDOOHVEHKHUUVFKHQGHQ3IODQ]HXQWHUZRUIHQ(LQSDDUKDWWHQGLH3IODQ]HQDFKZHQLJHQ $XJHQEOLFNHQZLHGHUDEJHOHJWDEHUGLH0HKU]DKOWUXJGLHVHOWVDPH%OWHKLQWHUGHP2KU :DVZLUVWGXPDFKHQZHQQGXZLHGHULQ7HUUDQLDELVW"IUDJWH.DPHH 5HJLQDOG%XOO]XFNWHPLWGHQ6FKXOWHUQ
,FKZHLHVQRFKQLFKWVDJWHHU9HUPXWOLFKZDUWHWLUJHQGHLQHVHKUGULQJHQGH$UEHLWDXI PLFKZDKUVFKHLQOLFKHU*XFN\PLWHLQHPQHXHQ6FKDEHUQDFN .DPHHOlFKHOWH&DYXVULWWQHEHQLKUXQGZDUILKUDEXQG]X%OLFNH]X'LHEHLGHQVFKLHQHQ VLFKQlKHUJHNRPPHQ]XVHLQVWHOOWH%XOO\DPVLHUWIHVW
'LH 085* '2 3<$=$ VWDQG GD ZR 5HJLQDOG %XOO VLH JHODQGHW KDWWH 1LFKWV KDWWH VLFK YHUlQGHUW'DQHEHQVWDQGQRFKLPPHUGDV%HLERRWZUDFNGHU,&$XQGLQGHU1lKHZDUDXFK GHU /DQGHSODW] GHV .UHX]HUEHLERRWV JHZHVHQ 'HU 2EHUVW KDWWH VLFK PLW VHLQHQ 0lQQHUQ YHUDEVFKLHGHWXQGIORJEHUHLWVZLHGHUGLH(UGHDQ 5HJLQDOG%XOOZUGHGHQ5FNIOXJDOOHLQDQWUHWHQ=XVHLQHU9HUZXQGHUXQJKDWWHQVLFKDOOH DQGHUHQ0LWJOLHGHUGHU([SHGLWLRQGD]XHQWVFKORVVHQDXIGHP3ODQHWHQ]XEOHLEHQ5HJLQDOG %XOOEHJULIIGDVQLFKWDEHUHUKDWWHVLFKGLHVHU(QWVFKHLGXQJJHIJW 1HEHQ GHU 085* '2 3<$=$ EOLHE GHU =XJ VWHKHQ 5HJLQDOG %XOO VWLHJ HLQ ZHQLJ OHQGHQODKP YRP *DKDU $Q GLH VHOWVDPHQ =RWWHOWLHUH KDWWH HU VLFK QLFKW JHZ|KQHQ N|QQHQ ,PPHUKLQZDUHUOLHEHU]XUFNJHULWWHQDOVGLH6WUHFNHQRFKHLQPDO]X)X]XUFN]XOHJHQ (XHU (QWVFKOX LVW XQZLGHUUXIOLFK" IUDJWH %XOO\ ZlKUHQG HU GLH 6FKOHXVH GHV 6FKLIIHV |IIQHWH :LUEOHLEHQDXIGLHVHU:HOWVDJWH.DPHH6LHNDQQXQVHWZDVJHEHQZDVPDQDXIGHU (UGHLQXQVHUHP-DKUKXQGHUWQLFKWPHKUILQGHW,FKZLOOGDPLWQLFKWVDJHQGDHVKLHUEHVVHU LVWHVJHIlOOWXQVQXUEHVVHU %XOO\EHWUDFKWHWHGLH%OWHKLQWHU.DPHHV2KU(UZLHJWHGHQ.RSI ,KUPWZLVVHQZDVLKUWXW1XQ&DFKXPEDU ZLHVLHKWHVDXV" 'HU6WDGWN|QLJVFKZDQJVLFKDXVGHP6DWWHO(UKDWWHHLQHUZDUWXQJVYROOHV*HVLFKW ,FKELQEHUHLWVDJWHHU0DQVROOWHDOOHVHLQPDOYHUVXFKHQ,FKZHUGHGLHVYHUVXFKHQ 'LHEHLGHQ0lQQHUVWLHJHQDQ%RUGGHU085*'23<$=$ 5HJLQDOG %XOO JHOHLWHWH VHLQHQ *DVW LQ GLH =HQWUDOH &DFKXPEDU IKOWH VLFK QLFKW VHKU EHKDJOLFK(VZDUIUVHLQHQ*HVFKPDFNYLHO]XYLHO0HWDOOXQG*ODV]XVHKHQ 6HW]GLFKGRUWKLQVDJWH%XOO\XQGGHXWHWHDXIGHQ6LW]GHV.RSLORWHQ&DFKXPEDUQDKP 3ODW]XQG%XOO\VFKQDOOWHLKQDQ 'DQQ EHUSUIWH HU NXU] GLH )XQNWLRQVWFKWLJNHLW GHV %RRWHV 'LH 085* ZDU LQ HUVWNODVVLJHP=XVWDQGQLFKWVKDWWHVLFKYHUlQGHUW%XOO\OLHGDV7ULHEZHUNDQODXIHQ 'LH 085* '2 3<$=$ UXFNWH DQ XQG VWLHJ LQGLH+|KH'UDXHQKDWWHQGLH6KDNRRWHHV YLHO0KHLKUHZLOGJHZRUGHQHQ*DKDUV]XElQGLJHQ%XOO\KDWWHGLH=RWWHOWLHUHQRFKQLHVR XQJHVWPHUOHEW 'DQQ ILHO GHU %RGHQ XQWHU GHP 6FKLII ]XUFN 'LH 085* '2 3<$=$ JHZDQQ UDVFK DQ +|KH%XOO\VRUJWHGDIUGD&DFKXPEDUGHQ6WDUWJHQDXYHUIROJHQNRQQWHVRZLHHUHVDXFK EHLP9HUODVVHQGHU(UGHJHPDFKWKDWWHXPVHLQH*lVWH]XEHHLQGUXFNHQ (VPDFKW$QJVWVDJWH&DFKXPEDU$EHUPDQNDQQHVDXVKDOWHQ 6KDNRRWHH ZXUGH ]XU 6FKHLEH 'LH 6FKZlU]H GHV :HOWUDXPV OHJWH VLFK EHU GLH 7UDQVSDUHQWNXSSHO'HU0RQGWDXFKWHLP%OLFNIHOGDXIZXUGHUDVFKJU|HUXQGYHUVFKZDQG GDQQZLHGHU 5HJLQDOG%XOOOLHGLH085*'23<$=$]ZHL/LFKWPLQXWHQWLHILQGHQ5DXPHLQGULQJHQ GDQQGURVVHOWHHUGLH)DKUW 'DVLVWHVZDVLFKPHLQHVDJWHHUXQGGHXWHWHDXIGLH.XSSHOGHU6SDFH-HW &DFKXPEDU VDK LQ GLH +|KH (U EHWUDFKWHWH GLH 6WHUQH GLH VR NOHLQ XQG VR ZHLW HQWIHUQW ZDUHQ 'LH $JJUHJDWH GHV 6FKLIIHV VXPPWHQ OHLVH /LFKWHU EOLQNWHQ XQG LQ GHU =HQWUDOH ODJ MHQHU XQYHUNHQQEDUH *HUXFK GHU LQ MHGHP 5DXPVFKLII ]X ILQGHQ ZDU XQG QDFK NXU]HU =HLW YRQNHLQHP5DXPIDKUHUPHKUZDKUJHQRPPHQZXUGHZHLOHUHLQIDFKGD]XJHK|UWH -DLFKEHJUHLIHHVODQJVDPVDJWH&DFKXPEDU 'HU %RUGUHFKQHU HUDUEHLWHWH GLH .RRUGLQDWHQ IU GHQ 5FNIOXJ XQG VSLH HLQHQ ODQJHQ 3ODVWLNVWUHLIHQDXV 5HJLQDOG %XOO NRQQWH GLH HLQJHVWDQ]WHQ =HLFKHQ GDQN LQWHQVLYHU
+\SQRVFKXOXQJIOLHHQGOHVHQIU&DFKXPEDUPXWHQVLHXQYHUVWlQGOLFKVHLQ 'DV LVW GHU :HOWUDXP VDJWH 5HJLQDOG %XOO +LHU JLEW HV QLUJHQGZR HLQH *UHQ]H XQG ZHQQGDQQLVWVLH+HUDXVIRUGHUXQJQLFKW$EVFKOX-HGHUGLHVHUOHXFKWHQGHQ3XQNWHLVWHLQ 6WHUQXQGHVJLEWPHKU6WHUQHLP5DXPDOV6KDNRRWHHVDXIHXUHP3ODQHWHQ ,Q DOWHQ *HVFKLFKWHQ ZLUG JHVDJW XQVHU 9RON VHL DXV GHP :HOWUDXP JHNRPPHQ XQG DXI 6KDNRRWHHJHODQGHWVDJWH&DFKXPEDU-HW]WZHLLFKZDVGDV:RUWEHGHXWHW'LHVLVWGHLQH :HOWQLFKWZDKU" 'DVLVWVLHEHVWlWLJWH5HJLQDOG%XOO &DFKXPEDUVHXI]WHOHLVH ,FKZHLJHQXJVDJWHHU'XNDQQVWPLFK]XUFNEULQJHQ 5HJLQDOG %XOO IORJ GLH 085* '2 3<$=$ ]XUFN 3Ul]LVH IDQG HU GHQ DOWHQ /DQGHSODW] ZLHGHU XQG HQWJHJHQ VHLQHP 7HPSHUDPHQW YHU]LFKWHWH HU GDUDXI HLQH MHQHU /DQGXQJHQ KLQ]XOHJHQIUGLHHUEHUFKWLJWZDU$XIGHP%RGHQZDU&DFKXPEDUVLFKWOLFKIURKZLHGHU *UDVXPVLFK]XVHKHQXQG%lXPH'HQQRFKZLUNWHHUHLQZHQLJQLHGHUJHVFKODJHQDOVHUVLFK YRQ5HJLQDOG%XOOYHUDEVFKLHGHWH :HUGHQZLUXQVZLHGHUVHKHQ"IUDJWHHU +|FKVWZDKUVFKHLQOLFK QLFKW VDJWH 5HJLQDOG %XOO (V ZLUG EHL GLHVHP %HVXFK EOHLEHQ $EHUJDQ]VLFKHUNDQQPDQQLHVHLQ :LU KDEHQ HLQ *HVFKHQN IU GLFK VDJWH .DPHHa 'X ZLUVW ZLVVHQ ZDV HV LVW HLQH 6KDNRRWHH 5HJLQDOG%XOOQDKPGHQ7RSIPLWGHU3IODQ]HDQXQGEHGDQNWHVLFK :LUKDEHQDXHUGHPHLQHQ:XQVFKVDJWH6KDNWDU HLQHVHKUGULQJHQGH%LWWHDQGLFK 6FKLHORVVDJWH%XOO\ ZlKUHQGHUGLH3IODQ]HLQGHU6FKOHXVHYHUVWDXWH /|VFKGLH.RRUGLQDWHQGLHVHU:HOWDXVGHP.DUWHQWDQNEDW6KDNWDU:HQLJH0HQVFKHQ N|QQHQKLHUVHKUJOFNOLFKZHUGHQZHQQHV]XYLHOHZHUGHQLVWHVPLWGHP*OFNDXV6RUJH GDIUGD6KDNRRWHHQLFKWa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|UHQGDHUVLFKQLFKWXPGDV/HEHQEHWURJHQKDWWHZLHHUVLFKYLHOOHLFKWLPPHUZLHGHU YRUJHZRUIHQKDWWH,P*UXQGHKDWWHQHVGLHGUHLDOWHQ)UHXQGHSUDFKWYROOJHWURIIHQ5HJLQDOG %XOOPXWHQRFK]LWWHUQVLHQLFKWPHKU (VZDUHLQHUWUlXPHQVZHUWHV(QGHVDJWHVLFKGHU6WDDWVPDUVFKDOO(VZUGH3HUU\5KRGDQ JHIDOOHQGDYRQ]XK|UHQ 5HJLQDOG%XOOVDKGHQ5HFKQHUDQ'LH'DWHQGHV3ODQHWHQZDUHQGRUWJHVSHLFKHUW 6ROOWH HU GHQ MXQJHQ /HXWHQ GHQ :XQVFK HUIOOHQ" (U ZDU YHUVWlQGOLFK DXI GHU DQGHUHQ 6HLWHKDWWHQ:LVVHQVFKDIWOHUDOOHQYRUDQGLH36,)DFKOHXWHVLFKHUHLQJURHV,QWHUHVVHDQGHU VHOWVDPHQ3IODQ]HXQGLKUHQHUVWDXQOLFKHQ)lKLJNHLWHQ 8QGQRFKHLQHVEHVFKlIWLJWH5HJLQDOG%XOO 1LHPDQGZDUZLUNOLFKXQVWHUEOLFKXQGNDXPHLQHUZXWHGDVEHVVHUDOV5HJLQDOG%XOOGHU
LPPHU ZLHGHU VHLQ /HEHQ JHZDJW KDWWH 1LFKW HLQPDO GHU =HOODNWLYDWRU JDUDQWLHUWH GLH 8QVWHUEOLFKNHLWGLH0XWDQWLQ$QQH6ORDQHZDUHUVFKRVVHQZRUGHQXQGDXFKGHU$NWLYDWRU KDWWHLKUQLFKWJHKROIHQ 9LHOOHLFKW NDP LUJHQGZDQQ HLQPDO HLQ =HLWSXQNW DQ GHP VHOEVW HLQ VR HUIDKUHQHU 8QVWHUEOLFKHU ZLH $WODQ GLH /XVW DP /HEHQ YHUORU 9RUVWHOOEDU ZDU HV GXUFKDXV ZHQQ DXFK QLFKWIUGLHQlFKVWH=HLW=HKQ-DKUWDXVHQGHKDWWH$WODQDXIGHQ6FKXOWHUQDEHUZLHZUGHHU QDFKZHLWHUHQ]HKQWDXVHQG-DKUHQDXVVHKHQ" )U GLHVHQ 7DJ VWHOOWH 6KDNRRWHH LQ %XOO\V $XJHQ HLQH $UW 5FNYHUVLFKHUXQJ GDU 'RUW NRQQWHHUVLFK]XUFNOHJHQHLQVZHUGHQPLWGHU6KDNRRWHHXQGHLQHQEHLQDKHXQPHUNOLFKHQ 7RG VWHUEHQ NHLQ DEUXSWHV (UO|VFKHQ DOOHQ 'HQNHQV VRQGHUQ HLQ ODQJVDPHV 'DKLQVLFNHUQ IUHLYRQMHGHU$QJVW 'LH 085* '2 3<$=$ GUDQJ LQ GHQ /LQHDUUDXP HLQ 5HJLQDOG %XOO VWDQG DXI XQG JLQJ ]XP5HFKQHUKLQEHU(UOLHVLFKGLH.RRUGLQDWHQDXVGUXFNHQXQGVWHFNWHGHQ'DWHQVWUHLIHQ LQ GLH 7DVFKH 'DQDFK O|VFKWH HU GLH 3URJUDPPLHUXQJ GHV 5HFKQHUV 'LH 3RVLWURQLN ZUGH NHLQHPPHKUYHUUDWHQN|QQHQZR6KDNRRWHH]XVXFKHQZDU
5HJLQDOG %XOOSDFNWHGDV8QWHUKHPGLQGLH7DVFKH(VZDUGLHVHLQHUGHU1DFKWHLOHHLQHV -XQJJHVHOOHQ GD PDQ VHLQH 7DVFKHQ VHOEVW SDFNHQ PXWH 'LH YHUPDOHGHLWHQ 5RERWHU PDFKWHQVROFKH$UEHLWHQQLHVRQGHUOLFKJXWGDKHUSDFNWH%XOO\OLHEHUVHOEVW]X (VZXUGH=HLWHLQHQ7HLOGHVJDQ]HQ.UHPSHOVLQGLH:lVFKH]XJHEHQVWHOOWHHUIHVW1XQ MDGDIUZDU=HLWZHQQHUYRQGHU5HLVH]XUFNNHKUWH(UZROOWHVLFKPLW3HUU\WUHIIHQZR JHQDX ZXWH HU VHOEVW QLFKW PHKU DEHU GHU .RPPDQGDQW GHV 6FKQHOOHQ .UHX]HUV ZUGH HV ZLVVHQ 5HJLQDOG %XOO YHUVWDXWH HLQLJH 6RFNHQSDDUH LQ GHU 7DVFKH GDQDFK YHUSDFNWH HU HLQ 3DDU EHTXHPH6FKXKH $XV *HZRKQKHLW OHHUWH HU VlPWOLFKH 7DVFKHQ EHYRU HU GLH JHWUDJHQHQ $Q]JH LQ GLH 5HLQLJXQJ JDE (LQ SDDU OHHUH +OOHQ YRQ .DXJXPPL WDXFKWHQ GDULQ DXI .DUWHQ IU HLQ .RQ]HUWOlQJVWDEJHODXIHQHLQ'DWHQVWUHLIHQPLWGHP%XOO\LP$XJHQEOLFNQLFKWV5HFKWH DQ]XIDQJHQZXWHHLQH=LJDUHWWHQSDFNXQJXQGHWOLFKHU.OHLQNUDPPHKU 6HLWGUHL7DJHQZDU5HJLQDOG%XOOZLHGHUDXIGHU(UGHXQGLQGLHVHQGUHL7DJHQZDUHUYRQ HLQHP7HUPLQ]XPQlFKVWHQJHKHW]W=XP1DFKGHQNHQZDUHUQLFKWPHKUJHNRPPHQVHLWHU PLWGHP%RRWZLHKLHHVGRFKJOHLFK"ZLHGHULQ7HUUDQLDJHODQGHWZDU %XOO\ OLH GLH 9HUVFKOVVH GHU 7DVFKH HLQVFKQDSSHQ GHQ .OHLQNUDP EHI|UGHUWH HU LQ HLQHQ 3DSLHUNRUEGHUHUGDQQLP$EIDOONRQYHUWHUYHUVFKZLQGHQOLH (LQ%OLFNDXIGLH8KU(VZXUGHK|FKVWH=HLW8PZDUGHU6WDUWJHSODQWMHW]WZDUHV %XOO\ PXWH QRFK HLQHQ 'LHQVWZDJHQ EHVWHOOHQ XQG ]XUU 5DXPKDIHQ IDKUHQ %HLGHV OLHVLFK]HLWOLFKJHUDGHQRFKEHZHUNVWHOOLJHQ %XOO\GUFNWHGHQ.QRSIQHEHQGHP,QWHUNRPGHUIUGHQDXWRPDWLVFKHQ5XIHLQHV*OHLWHUV VRUJWHGDQQVFKOHSSWHHUHLJHQKlQGLJVHLQH7DVFKHQ]XU7U 7HOHNLQHW PWH PDQ VHLQ NQXUUWH HU DQ *XFN\ GHQNHQG GHU PLW VROFKHQ 3UREOHPHQ QLFKWV]XWXQKDWWH 'HU*OHLWHUHUVFKLHQGUHL0LQXWHQVSlWHUPLWHLQHP5RERWFKDXIIHXUZDV5HJLQDOG%XOOQLFKW EHKDJWH 'LHEHLGHQYHUVWDXWHQGDV*HSl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
PLWDQJHODXIHQHQ0DVFKLQHQDXI%XOO\ZDUWHWH 5HJLQDOG %XOO VFKDIIWH HV DXI GLH 0LQXWH JHQDX $OV HU GLH =HQWUDOH GHV .UHX]HUV EHWUDW VSUDQJGLH$Q]HLJHDXI %XOO\JULQVWH]XIULHGHQ $XIJHKW VVDJWHHU%HLOWHXFK-XQJVGHU&KHIZDUWHW (UOLHVLFKLQGHQIUHLHQ6HVVHOIDOOHQZLVFKWHVLFKGHQ6FKZHLYRQGHU6WLUQ (LQH1DFKULFKWIU6LH6LU 5HJLQDOG%XOOVWUHFNWHGLH+DQGDXV'HU5RERWEHUJDELKPHLQHQ8PVFKODJ%XOO\|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lUOLFK6WUHKLHGLH(UNOlUXQJ(VZXUGHZLUNOLFK=HLWIUHLQHQ DXVJHGHKQWHQ8UODXE
(1'(