Mondgeld

'DVQHXH$EHQWHXHU

6ODZ&KU.DUDVODZRZ0RQGJHOG 9HUODJ1HXHV/HEHQ%HUOLQ 9E\'XPPH3XWH

7LWHOGHVEXOJDULVFKHQ2ULJLQDOVEmggbiZjb ,QV'HXWVFKHEHUWUDJHQYRQ(JRQ+DUWPDQQ ,OOXVWUDWLRQHQYRQ*QWKHU/FN ‹E\6ODZ&KU.DUDVODZRZ )UGLHGHXWVFKHhEHUVHW]XQJXQGGLH,OOXVWUDWLRQHQ ‹9HUODJ1HXHV/HEHQ%HUOLQ /L]HQ]1U /69 8PVFKODJ*QWKHU/FN 7\SRJUDILH&KULVWHO5XSSLQ 6FKULIWS([FHOVLRU *HVDPWKHUVWHOOXQJ 'UXFNHUHL1HXHV'HXWVFKODQG%HUOLQ %HVWHOO1U ''50



7RGRU+DGVFKLQLNRORZZDUVWLOOJHZRUGHQXQG%XUXQVXV JODXEWHVFKRQHVVHLPLWLKP]X(QGHJHJDQJHQ 'HU6FKlIHUODXVFKWHDEHUPDOVGRFKDX‰HUGHPVFKOlIUL JHQ $WPHQ GHU +HUGH ZDU QLFKWV ]X K|UHQ hEHU GLH PRQGEHVFKLHQHQH:LHVHKXVFKWHIOLQNHLQ:LHVHOXQGYHU VFKZDQGLP6FKDWWHQGHV3IHUFKV(VKDWWHVLFKHUVWMQJVW KLHUHLQJHIXQGHQ²DXFKGDVZDUQDFK$QVLFKWGHV6FKl IHUVHLQE|VHV9RU]HLFKHQ %XUXQVXV]RJVHLQHQZROOHQHQ8PKDQJKHUDQXQGVHW]WH VLFKDXIV+HX'LH JDQ]H6HQNHVFKZDPPLP0RQGOLFKW 'LH )ODQNHQ GHU %HUJH VFKLHQHQ VLFK ODQJVDP NDXP ZDKUQHKPEDU ]X EHZHJHQ 'LH ODQJHQ 6FKDWWHQ GHU %X FKHQ OHKQWHQ DQ GHQ :lQGHQ GHU +WWH (V URFK QDFK 6FKZHIHO QDFK %RFN XQG QDFK QRFK HWZDV DQGHUHP VFKZHU(UNOlUEDUHPGDV FKDUDNWHULVWLVFK IU 6FKDIKUGHQ LVW'HUNDKOH2FKVHQVFKlGHO JULQVWH DXI GHP )OHFKW]DXQ GLH NXU]HQ +|UQHU ZDUHQ JHOE YRP *OHL‰HQ GHV 0RQGHV 'LHVHUWUJHULVFKH*ROGVFKLPPHUODJDXFKDXIGHQUXQGHQ %OlWWHUQ GHV ZLOGHQ %LUQEDXPV JOHLFK GDQHEHQ HU VFKLHQ YHUORFNHQGXQGOHEHQGLJPLWLKQHQ]XVSLHOHQ,Q:DKUKHLW ZDUHQ QXU GLH %OlWWHU VHOEVW OHEHQGLJ 9RP OHLFKWHQ $EHQGZLQG EHUKUW HUIOOWHQ VLH GLH 6WLOOH GHU *H ELUJVQDFKWPLWLKUHPYHUKDOWHQHQ5DXQHQ'HU0RQGJODQ] WULHEGHQ6FKODIDXV%XUXQVXVå $XJHQ(UHULQQHUWHLKQDQ GLH*ROGPQ]HQ(LQHJDQ]H+DQGYROO*ROGPQ]HQKDWWH LKP+DGVFKL'LPLWHUGDJHODVVHQ« (UKDWWHLKQEHLVHLWHJHQRPPHQGD‰HVGLHDQGHUQQLFKW VDKHQXQGVLHLKPJHJHEHQ«)UHLOLFKJHVFKHQNWKDWWHHU VLHLKPQLFKW$EHUHVZDUIUVRHLQHQ'LHQVWQLFKWZHQLJ *HOGhEULJHQVZDUHVDXFKNHLQNOHLQHU'LHQVW«%HYRU

GLH +HLGXFNHQ EHU GHQ VWHLOHQ +DQJ GDYRQJH]RJHQ ZD UHQ KDWWH +DGVFKL 'LPLWHU LKP VHLQHQ YHUZXQGHWHQ %UX GHUDQYHUWUDXW 'HVVHQ :XQGHQ KDWWHQ VLFK LQ]ZLVFKHQ HQW]QGHW XQG GHU 6FKlIHU KRIIWH LKQ EDOG XQWHU HLQHU VFKDWWLJHQ %XFKH YHUVFKDUUHQ ]X N|QQHQ 'UHL 7DJH ZDU HV KHU GD‰ GLH )UHLVFKDUEHUGHQ'HEHO 'MDO ]XP %XVOXGVKD DEJH]RJHQ ZDU XQG 7RGRU KDWWH VLFK GLH JDQ]H =HLW EHZX‰WORV KLQ XQGKHUJHZRUIHQ(UVWKHXWHQDFKWZDUHUUXKLJJHZRUGHQ 6FKOLHIHURGHUZDUHVPLWLKP]X(QGHJHJDQJHQ"%XUXQ VXV ZX‰WH HV QLFKW 8QG HU KDWWH HV DXFK QLFKW HLOLJ VLFK *HZL‰KHLW ]X YHUVFKDIIHQ %LV ]XP 0RUJHQ ZDU QRFK UHLFKOLFK =HLW 1DFKWV ZDJWHQ GLH 7UNHQ QLFKW GXUFKV *HELUJH]XVWUHLIHQ(LQHQSO|W]OLFKHQhEHUIDOOEUDXFKWHHU DOVR QLFKW ]X EHIUFKWHQ 7DJVEHU ZDU HV HWZDV DQGHUHV GDKDWWHGHU6FKlIHU$QJVWDEHUGHU*ODQ]GHU*ROGVWFNH ZDU VWlUNHU DOV GLH )XUFKW XQG YHUGUlQJWH VLH DXV VHLQHP +HU]HQ ,KU .ODQJ OLH‰ LKQ DOOHV DQGHUH YHUJHVVHQ =XP HUVWHQPDOVDKHQVHLQH$XJHQVRYLHOEDUHV*HOGDXIHLQHP +DXIHQ 'DPLW NRQQWH HU VLFK HLQ QHXHV +DXV EDXHQ GLH +HUGHYHUJU|‰HUQXQWHUGLHHUVWHQ /HXWHLP 'RUI DXIUN NHQ8QGZHQQHV*RWWHV:LOOHZDUZUGHHUHVDXFKWXQ «$QGHUHQIDOOVNRQQWHHUVRZLHHVMHW]WOLHIDXFKDQGHQ %HWWHOVWDENRPPHQ 9LHOH 6FKDIH ZDUHQ DP 5RW] HLQJHJDQJHQ 'LHVH VFKUHFNOLFKH .UDQNKHLW KDWWH LQ ]ZHL -DKUHQ GLH +lOIWH VHLQHU +HUGH ZHJJHUDIIW 6LH JHKHQ XQG EHVFKPDGGHUQ VLFK GHU 6FKOHLP OlXIW LKQHQ DXV GHU 1DVH VLH IDQJHQ DQ ]XU|FKHOQG|VHQHLQXQGNUHSLHUHQ'DKLOIWNHLQ$GHUOD‰ XQG NHLQ URWHU )DGHQ GHP 7LHU GXUFK GLH 2KUHQ JH]RJHQ « 'LH 6HXFKH KlWWH LKQ Y|OOLJ ]XJUXQGH JHULFKWHW ZHQQ GLH)UHLVFKDUQLFKWYRUEHLJHNRPPHQZlUH'DV*HOGNDP

ZLHHLQ*HVFKHQNGHV+LPPHOV+DGVFKL'LPLWHUKDWWHHV LKP JHJHEHQ GDPLW HU GHQ 9HUZXQGHWHQ SIOHJWH 'RUW REHQ DXI GHP )HOVJUDW KDWWHQ VLH 5DVW JHPDFKW DOV HU ]X LKPVDJWH Ä0DQ KDW PLU HU]lKOW GD‰ GX HLQ DQVWlQGLJHU 0HQVFK ELVW:LUVLQGDXIJHEURFKHQXPIUVROFKHZLHGLFKLQGHQ 7RG ]X JHKHQ GHVKDOE P|FKWH LFK GLFK ELWWHQ PHLQHQ %UXGHUDXI]XQHKPHQ7RGRUKHL‰WHU'XVROOVWLKQJHVXQG SIOHJHQ XQG GDQQ LQ GLH :DODFKHL ZHLWHUVFKLFNHQ 6DJ LKP HU VROO GRUW DXI PLFK ZDUWHQ +LHU LVW DXFK *HOG :HQQ GX LKQ ZLHGHU DXI GLH %HLQH EULQJVW JHK|UW GLH +lOIWHGHU*ROGVWFNHGLUGLHDQGHUH+lOIWHJLEVWGXLKP GDPLW HU QLFKW RKQH HWZDV GDVWHKW « 8QG KDE 'DQN IU GHLQH*WH«,FKZQVFKWHPHLQ:HJIKUWHPLFKZLHGHU HLQPDOKLHUYRUEHLGDPLWZLUXQVZLHGHUVHKHQ³ $XFKGLH+lOIWHGHV*HOGHVZDUQLFKWZHQLJ'HU6FKl IHUQDKPHVPLW]LWWHUQGHQ+lQGHQHQWJHJHQJHOREWHGHQ $XIWUDJ GHV :RLZRGHQ DXV]XIKUHQ DEHU GDV *HO|EQLV KLHOW QXU VR ODQJH YRU ELV GLH )UHLVFKDU LP 'LFNLFKW YHU VFKZXQGHQ ZDU XQG GDV *ROG PLW VHLQHP *ODQ] LKP GLH $XJHQEOHQGHWH (LQH XQJHDKQWH 8QUDVW SDFNWH %XUXQVXV (U VRUJWH VLFK QLFKW XP GHQ 9HUZXQGHWHQ VRQGHUQ QXU XP GDV HLQJH NQRWHWH *HOG 'HQ JDQ]HQ 7DJ WUXJ HU HV PLW VLFK KHUXP VHLQH +DQG NDP QLFKW DXV GHP :LFNHOJXUW KHUDXV $P HUVWHQ7DJYHUJD‰HUVRJDUGLH+HUGHDXV]XWUHLEHQ7RGRU VWHOOWH HU HLQ 6FKlOFKHQ 0LOFK XQG HWZDV %URW KLQ GDQQ VDKHUQLFKWPHKUQDFKLKP(UVWDEHQGVDOVHU JHZDKUWH ZLHGHU-XQJHVW|KQWHXQGVLFKDXIGHP+HXLQGHU +WWH KLQ XQG KHU ZDUI HQWVFKOR‰ HU VLFK LKP GLH 9HUElQGH DE]XQHKPHQGLH:XQGHQPLW+HLGXFNHQNUDXW]XZDVFKHQ XQG PLW +RQLJEDOVDP ]X EHVWUHLFKHQ 'DULQ HUVFK|SIWH

VLFK VHLQH )UVRUJH :R]X VROOWH HU VLFK DXFK VRUJHQ HU ZDUEHU]HXJWGD‰GLH7DJHGHVMXQJHQ0HQVFKHQJH]lKOW ZDUHQ 1DFKGHPGHU6FKlIHUGLH:XQGHQYHUEXQGHQKDWWHZDU 7RGRU HLQ EL‰FKHQ UXKLJHU JHZRUGHQ GRFK %XUXQVXV EH PHUNWH GLHVH NOHLQH 9HUlQGHUXQJ QLFKW $XFK GLH OHLFKWH 5|WHILHOLKPQLFKWDXIGLHDXIGLHHLQJHIDOOHQHQ:DQJHQ GHV9HUZXQGHWHQJHWUHWHQZDU

7RGRUJLQJHVHWZDVEHVVHUDEHUHUOLWWLPPHUQRFKVHKU (V ZlUH HLQ :XQGHU JHZHVHQ ZHQQ HU GXUFKKLHOWH 'HU 6WHLOKDQJ]XP/HEHQZDUVFKRQ]XDEVFKVVLJDOVGD‰GHU HUVFK|SIWH +HLGXFN QRFK HLQPDO GLH JUQH +|KH KlWWH HUNOLPPHQ N|QQHQ 'HVVHQ ZDU GHU DOWH 6FKlIHU JDQ] VLFKHU 8QG GDUXP ZDUHQ VHLQH *HGDQNHQ PHKU DXI GHQ .ODQJ GHV *ROGHV JHULFKWHW DOV DXI GDV VFKZDFKH bFK]HQ GHV9HUZXQGHWHQ:HQQHULKP%URWXQG0LOFKKLQVWHOOWH

VR QXU XP VLFK QLFKW YRU VHLQHP *HZLVVHQ ]X VFKlPHQ XPGHP-XQJHQUXKLJLQGLHQLFKWVVHKHQGHQWUEHQ$XJHQ VFKDXHQ]XN|QQHQ 0RUJHQVVFKOR‰HUGLH+WWHDEWULHEGLH+HUGHDXVXQG YHUJD‰ GHQ 9HUOHW]WHQ 1XU GLH $QJVW JHPDKQWH LKQ KLQ XQG ZLHGHU DQ LKQ GLH $QJVW GD‰ LUJHQGHLQ $JD HLQ WUNLVFKHU+HUU]XIlOOLJDXIVHLQH6FKDIKUGHQVWLH‰HXQG GHQ -XQJHQ HQWGHFNWH 8P GLHVH SO|W]OLFKH $QJVW ]X YHU VFKHXFKHQ]RJHUGDVHLQJHNQRWHWH*HOGKHUYRU%HYRUHU HVDXIVHLQ7DVFKHQWXFKVFKWWHWHKRUFKWHHUODQJHOLHIHU ODQJHNUHX]XQGTXHUGXUFKGHQ:DOGXQGHUVWZHQQHUGLH *HZL‰KHLW KDWWH GD‰ HU DOOHLQ XQG PLWWHQ LQ VHLQHU +HUGH ZDU ID‰WH HU VLFK HLQ +HU] 6RODQJH GLH +HUGH LP :DOG YHUVWUHXW ZDU NRQQWH HU GLH *ROGVWFNH LQ 5XKH EHWUDFK WHQ'LH6FKDIHUDQQWHQEHLP JHULQJVWHQ*HUlXVFKGDYRQ LKUH *O|FNFKHQ ELPPHOWHQ $ODUP XQG ZDUQWHQ YRU GHU NOHLQVWHQ*HIDKU1LFKW]XOHW]WZDUHQDXFKQRFKGLH+XQ GH GD 6LH ODJHQ YRU LKP GLH 6FKQDX]HQ ]ZLVFKHQ GHQ 3IRWHQMHGHQ$XJHQEOLFNEHUHLWDXI]XVSULQJHQ ,Q VROFKHQ $XJHQEOLFNHQ VD‰ %XUXQVXV LP 7UNHQVLW] DXIGHPJUQHQ:DOGERGHQXQGGLH*ROGVWFNHEHJDQQHQ ]ZLVFKHQ VHLQHQ )LQJHUQ ]X EUHQQHQ 'LH %UDXHQ VHQNWHQ VLFK WLHI KHUDE VHLQ *HVLFKW ZXUGH VSLW] +LQWHU VHLQHU 6WLUQ VWLHJHQ VFKZHUIlOOLJH *HGDQNHQ LQ GLH +|KH EH PKWHQ VLFK LKQ LQ HLQH 7UDXPZHOW ]X ]LHKHQ XQG GLHVH 7UDXPZHOW ZDU PLW XP GLH $XJHQ VFKZDU] JHUlQGHUWHQ /lPPHUQ EHY|ONHUW PLW WUlFKWLJHQ 0XWWHUVFKDIHQ PLW ERFNLJHQ :LGGHUQ DQ GHUHQ +lOVHQ VFKZHUH 0HVVLQJ JORFNHQEDXPHOWHQ'LHVZDUVHLQH:HOWXQGHUYHUPRFKWH VHOEVW LQ VHLQHQ 7UlXPHQ QLFKW DXV LKU KHUDXV]XWUHWHQ %LVZHLOHQ JLQJHQ %XUXQVXV GLH :RUWH GHV :RLZRGHQ GXUFK GDV WUEH %HZX‰WVHLQ :LU VLQG DXIJHEURFKHQ XP

IU VROFKH ZLH GLFK ]X NlPSIHQ 'RFK HU VFKWWHOWH GHQ ]RWWLJHQ.RSIXPVLHQLFKWPHKU]XK|UHQ *LEGXPLUQXU*HOG*HOGVSDUGLUGHLQHVFK|QHQ:RUWH +DE LFK *HOG YHUQHLJW VLFK DXFK GHU 7UNH YRU PLU XQG XQVHUH 7|OSHO ]LHKHQ GLH 0W]H ,FK ZHL‰ ZDV GLH :HOW EHZHJW« 8QGGHU6FKlIHUVDPPHOWHEHKXWVDPGLHUXQGHQ6RQQHQ LQVHLQKDQGJHZHEWHV7DVFKHQWXFKXQGNQRWHWHVLHIHVWHLQ 0LWXQWHUJLQJHQVHLQH*HGDQNHQGXUFKZLHHLQHK|UQHU ORVH.XKLQGHU0LWWDJVJOXWXQGHUUDQQWHKLQWHULKQHQKHU 6LHIKUWHQLKQZLH]XP7RUWYRUV+DXVGHVUHLFKHQ'MDQ NR'UMDQRZDOLMD:DVGHU$OWHIUHLQH0KOHKDWWH(LQH 3UDFKW:HQQHUGLHKlWWH²ZHUZlUHJOFNOLFKHUDOVHU" %LVYRUJHVWHUQ KlWWH HU QLFKW JHZDJW DXFK QXU GDUDQ ]X GHQNHQ GRFK MHW]W VDK GLH 6DFKH DQGHUV DXV :DV EULQJW *HOG QLFKW DOOHV ]XZHJH « 8QG GRUW ZDU HLQHU ORVJH]R JHQ XP ]X VWHUEHQ 6ROO HU VWHUEHQ 6HLQ %XUXQVXVå *UR‰YDWHU XQG VHLQ 9DWHU KDWWHQ XQWHU GHQ 7UNHQ JHOHEW 1DFKNRPPHQXQG9LHK JUR‰JHNULHJW GD VROO HU VLFK MHW]W KLQVHW]HQXQGVLFK*HGDQNHQXPGLH:HJHODJHUHUPDFKHQ GHQHQLKU.RSIQLFKWVZHUWLVW"'DVIHKOWHJHUDGHQRFK %XUXQVXV KRE GHQ ODQJHQ 6FKlIHUVWDE DXI XQG EOLQ]HOWH LQ GLH 6RQQH 'LH :HOW VDK IU LKQ DQGHUV DXV VHOEVW GLH %HUJHHPSIDQGHUDOVVHLQHLJHQ $EHQGV NHKUWH HU MHW]W LPPHU VSlW KHLP XQG KDWWH HV QLFKW HLOLJ HLQHQ %OLFN LQ GLH ILQVWHUH (FNH GHU +WWH ]X ZHUIHQ :HQQ HU 1HXJLHU YHUVSUWH VR QXU LQ GHU +RII QXQJ GD‰ VHLQH KHLPOLFKHQ :QVFKH ZDKU JHZRUGHQ ZlUHQGD‰GHU-XQJHGDODJQLFKWDWPHWHGD‰HVPLWLKP ]X (QGH ZDU 'RFK ]X VHLQHU JUR‰HQ (QWWlXVFKXQJ OHEWH 7RGRU LPPHU QRFK 'HU 6FKlIHU VHW]WH VLFK ]X LKP XQG

VFKZLHJ YHUELVVHQ :LUUH E|VH *HGDQNHQ EHILHOHQ LKQ 6HLQ %OLFN VFKOLFK ]XP %HLO GDV KLQWHU GHU 7U OHKQWH DEHU GDV 0HQVFKOLFKH GDV LUJHQGZR WLHI LQ VHLQHU ZLOGHQ 6HHOH YHUERUJHQ VD‰ EHJHKUWH DXI XQG VHLQH $XJHQ ZDQGWHQ VLFK YRQ GHU NDOWHQ 6FKQHLGH DE 'DQQ NURFK %XUXQVXVVFKXOGEHZX‰WLQVLFK]XVDPPHQVWDQGDXIXQG XPVLFKVHOEVW]XEHZHLVHQGD‰HULPPHUQRFKHLQ&KULVW XQG JXWHU 0HQVFK ZDU JR‰ HU LQ GDV KDOEOHHUH 6FKVVHO FKHQ0LOFKQDFKRGHUYHUEDQGGHP-XQJHQPLW)HW]HQYRQ HLQHPDOWHQ+HPGGLH:XQGHQ $QGLHVHP$EHQGKDWWHGHU6FKlIHU$QJVWYRUVLFKVHOEVW XQG WUDW GHVKDOE EHUKDXSW QLFKW LQ GLH +WWH 'LH XQJH Z|KQOLFKH 6WLOOH OLH‰ LKQ DQQHKPHQ GD‰ 7RGRU HQGOLFK VHLQ UXKHORVHV +HLGXFNHQOHEHQ EHHQGHW KDWWH « 'LHVHU *HGDQNH EHVlQIWLJWH LKQ XQG HU VFKOLHI DXI GHP ZHLFKHQ +HXKDXIHQHLQ 'LH 6RQQH XQG GHU 'XIW GHU *UlVHU ZHFNWHQ LKQ 2KQH ]XVlXPHQZDUIHUGHQ8PKDQJDEXQGOXJWHLQGLH+WWH 7RGRU KDWWH VLFK DQ GLH :DQG JHOHKQW GDV 6FKVVHOFKHQ ZDU OHHU %XUXQVXV NRQQWH VHLQH hEHUUDVFKXQJ QLFKW YHU EHUJHQ Ä+DVW GLFK MD PlFKWLJ VFKQHOO ZLHGHU DXIJHUDSSHOW³ VDJWHHUXQGUXQ]HOWHGLHURVWEUDXQHQ%UDXHQ Ä,FK JODXEH LFK ELQ EHU GHQ %HUJ³ 7RGRU OlFKHOWH NDXPPHUNOLFK Ä,FKKDWWHGLFKVFKRQDEJHVFKULHEHQ³JHVWDQGGHU6FKl IHU 6HLQH HLQW|QLJH HLQ EL‰FKHQ KRKOH 6WLPPH OLH‰ GHQ MXQJHQ +HLGXFNHQ ]XVDPPHQIDKUHQ (U KDWWH GDV *HIKO GD‰ VLFK %XUXQVXV QLFKW EHU GLH %HVVHUXQJ IUHXWH 8P GLHVHQIOFKWLJHQ9HUGDFKWQLFKW]XU*HZL‰KHLWZHUGHQ]X ODVVHQ VWUHFNWH 7RGRU VHLQ YHUOHW]WHV %HLQ DXV XQG ZHFK VHOWHGDV7KHPD

Ä,FKKDE+XQJHU«³ 'HU6FKlIHUEUDFKWHHUQHXWHLQH6FKVVHOYROO0LOFKXQG HLQ 6WFN %URW VWHOOWH DOOHV YRU GHQ -XQJHQ KLQ XQG JLQJ KLQDXV 'UDX‰HQHPSILQJLKQJUHOOH6RQQH6LHVWDFKLKPLQGLH $XJHQGLHHU]ZLQNHUQG]XNHLIHQPX‰WH 

'LH 0RUJHQVWXQGHQ LP *HELUJH ZDUHQ NKO GHU 7DX IXQNHOWH ZLH DXVJHVWUHXWH *ODVSHUOHQ DXV GHP 3IHUFK GUDQJ WUlJHV %O|NHQ :lKUHQG GHU OHW]WHQ 7DJH ZDUWHWH 7RGRU LPPHU ELV %XUXQVXV GLH +HUGH KLQDXVJHODVVHQ KDWWHGDQQVFKOHSSWHHUVLFK]XUYHUVFKORVVHQHQ+WWHQWU XQG VFKDXWH ODQJH GXUFK GLH 5LW]HQ 9RQ KLHU VDK PDQ HLQHQ7HLOGHU7DOVHQNHGHQGLFKWHQ:DOGPLWGHP%lFK OHLQ XQG GHQ EDXFKLJHQ PLW GLFKWHP %XFKHQJHVWUSS EHGHFNWHQ %HUJ $XI GHU HLQHQ 6HLWH HQGHWH HU LQ HLQHU VWHLOHQ )HOVZDQG LQ GHU WLHIH 5LVVH ]X HUNHQQHQ ZDUHQ 6LFKHUOLFKJDEHVGD+|KOHQZRPDQIUHLQH:HLOHXQWHU NULHFKHQNRQQWH -HPHKUVHLQH.UlIWHZLHGHUNHKUWHQ GHVWR PHKU EHJDQQ GHU MXQJH +HLGXFN XP VHLQ /HEHQ ]X EDQJHQ 'LH )XUFKW UKUWH YRU DOOHP YRQ GHP XQVLFKHUHQ 9HUVWHFN KHU $P 7DJ]XYRUZDUHQ]ZHL 7UNHQ LQ GHP 6FKDISIHUFK DXIJH WDXFKW KDWWHQ ODQJH DQ GLH YHUULHJHOWH 7U JHSRFKW XQG JHGURKWDEHUDOVVLHVDKHQGD‰QLHPDQGGDZDUKDWWHQVLH GLH]XP7URFNQHQEHUGLH8P]lXQXQJJHKlQJWHQ6FKDI IHOOH ]XVDPPHQJHUDIIW XQG VLFK LQ GHQ :DOG GDYRQJH PDFKW 7RGRU UHFKQHWH GDPLW GD‰ VLH ZLHGHUNRPPHQ ZUGHQDEHUVLHOLH‰HQVLFKQLFKWPHKUEOLFNHQ $P $EHQG EHULFKWHWH GHU MXQJH +HLGXFN GHP 6FKlIHU

YRP (UVFKHLQHQ GHU 7UNHQ %XUXQVXV ZDU HUQVWKDIW HU VFKURFNHQ /DQJH JLQJ HU LQ GHU +WWH DXI XQG DE (U EHUXKLJWH VLFK HUVW QDFK HLQHU JDQ]HQ :HLOH GRFK LQ VHL QHP%OLFNODJQXQHLQNDOWHUJUDXVDPHU*ODQ]XQGGLHVHU *ODQ] HQWJLQJ 7RGRU QLFKW $OOHP $QVFKHLQ QDFK IKUWH GHU6FKlIHUQLFKWV*XWHVLP6FKLOGH 'HU $UJZRKQ YHUWULHE GHP -XQJHQ GHQ 6FKODI XQG HU ODJ ODQJH ZDFK $QIDQJV KRIIWH HU QRFK GD‰ HU VLFK XP VRQVW lQJVWLJWH XQG GHU 6FKlIHU QLFKW VR E|VH VHL ZLH HU PHLQWH DEHU GDV 0L‰WUDXHQ OLH‰ LKQ WURW]GHP QLFKW ]XU 5XKHNRPPHQ8QGJXWGD‰HUQLFKWHLQJHVFKODIHQZDU« 0LWWHQLQGHU1DFKWVDKHUZLH%XUXQVXVLQVHLQHU(FNH DXIVWDQG XQG ]X GHP %HLO VFKOLFK GDV QHEHQ GHU 7U OHKQWH 6HLQH GXQNOH *HVWDOW YHUVFKPRO] PLW GHU VFKZDU ]HQ )LQVWHUQLV GHU +WWH GRFK 7RGRUV EHUQHUY|V JH VFKlUIWHV6HKYHUP|JHQJHZDKUWHMHGHVHLQHU%HZHJXQJHQ 8PGLH$EVLFKWGHV6FKlIHUV]XYHUHLWHOQEHZHJWHHUVLFK 'HU DQGHUH ]XFNWH ]XVDPPHQ ODXVFKWH HLQHQ $XJHQEOLFN ODQJDXIGDV*HUlXVFKXQG]|JHUWH Ä*HKVW GX ]XU +HUGH"³ IUDJWH 7RGRU XP VHLQH HLJHQHQ %HIUFKWXQJHQ]X]HUVWUHXHQ %XUXQVXVEOLHEZLHIHVWJHQDJHOWVWHKHQ1DFKGHPHUVLFK JHID‰WKDWWHVWLH‰HUPKVDPKHUYRU Ä0LUZDUDOVKlWWHLFKGLH*ORFNHYRP%RFNJHK|UW«³ 8QGHUKDVWHWHKLQDXVRKQHHLQH$QWZRUWDE]XZDUWHQ =XUFNNDPHULP0RUJHQJUDXHQ7RGRUZDUJHUDGHHLQ JHQLFNWZXUGHDEHUVRIRUWKHOOZDFK Ä:DUZDV"³ Ä,UJHQGHLQ 9LHK]HXJ KDWWH VLFK ZDKUVFKHLQOLFK HLQJH VFKOLFKHQ³ ORJ %XUXQVXV VFKZLHJ GDQQ HLQH :HLOH XQG VDJWH Ä'X PX‰W DXV GHU +WWH IRUW « 0RUJHQ DEHQG NRPPW

PHLQ 7HLOKDEHU ZLHGHU GHU GDUI GLFK KLHU QLFKW VHKHQ « ,FK PDFK GLU HLQ /DJHU LQ HLQHU +|KOH ]XUHFKW 'RUW GU EHQLQGHQ)HOVHQ«:LUVWGXJHKHQN|QQHQ"³ Ä,FKZLOOåVYHUVXFKHQ«³ Ä+DOWGLFKKHXWHDEHQGEHUHLW³

7RGRUVWDUUWHGXUFKGLH5LW]HQLQGHU7UXQGGDFKWHEHU GDV VHOWVDPH %HQHKPHQ GHV 6FKlIHUV QDFK $OOHV ZDV %XUXQVXVIULKQWDWJHVFKDKLUJHQGZLHZLGHUZLOOLJ6HLQH )UVRUJHZDUNHLQHULFKWLJH)UVRUJHVHLQH5HGHQLFKWGLH 5HGHHLQHV)UHXQGHV%OR‰ZHQQHUHWZDV%|VHVYRUKDWWH ZLHVRKDWWHHUHVGDQQQLFKWJHWDQDOVHU7RGRUPLWGHP 7RGHJHUXQJHQKDWWH"'DZlUH HV JDQ]OHLFKW JHZHVHQ² HLQ +LHE PLW GHP %HLO XQG 6FKOX‰ 'DQQ EUDXFKWH 7RGRU MHW]WQLFKWGLHVH$QJVWDXV]XVWHKHQXQGGHU6FKlIHUZlUH VHLQH 6RUJHQ ORV :DV KLQGHUWH %XUXQVXV HLJHQWOLFK LKQ GHQ 7UNHQ ]X YHUUDWHQ" 'DV ZUGH LKP /RE XQG *HOG HLQEULQJHQ 'HU 3DVFKD LQ 7LUQRZR KDWWH VLFKHUOLFK HLQHQ 3UHLVDXIMHGHQ+HLGXFNHQNRSIDXVJHVHW]WGHU]X+DGVFKL 'LPLWHUV)UHLVFKDUJHK|UWH 1HLQKLHUVWLPPWHHWZDVQLFKW(QWZHGHUZDUHU7RGRU DOO]XPL‰WUDXLVFKJHZRUGHQRGHUGHU6FKlIHUIKUWHHWZDV LP6FKLOGHZDVHUQLFKWHUUDWHQNRQQWH« (LQNOHLQHUURWHU0DULHQNlIHUOHQNWHLKQYRQGHQ*HGDQ NHQDQ%XUXQVXVDE'HU.lIHUNURFKEHUGHQbUPHOGHV 'ROPDQV >6FKQUHQMDFNH WUN @ XQG VDK DXI GHU 6LOEHU ERUWH ZLH HLQ %OXWVWURSIHQ DXV 6FKRQ HLQ SDDUPDO KDWWH GHU6FKlIHUGHP+HLGXFNHQYRUJHVFKODJHQVHLQH$XIVWlQ GLVFKHQWUDFKWJHJHQDQGHUH.OHLGXQJ]XYHUWDXVFKHQDEHU 7RGRU KDWWH MHGHVPDO DEJHOHKQW (U IDQG VLFK QXU EHUHLW HLQ 3DDU EUDXQH 3OXGHUKRVHQ DQ]X]LHKHQ 'HQ ERUWHQEH VHW]WHQ 'ROPDQ JHJHQ HLQ DQGHUHV .OHLGXQJVVWFN ]X

ZHFKVHOQ ZHLJHUWH HU VLFK :HQQ VLH LKQ ILQJHQ ZUGHQ VLH LKQ VRZLHVR KlQJHQ DXFK LQ DQGHUHU .OHLGXQJ 'DQQ ZROOWH HU VFKRQ OLHEHU GLHVH GLH )UHLVFKlUOHUWUDFKW DQEH KDOWHQ 'DPLW VLH LKQ DQ GHQ %UXGHU XQG GLH *HIlKUWHQ HULQQHUWH (UKDWWHQRFKHLQHQDQGHUHQ*UXQGVLFK]XZHLJHUQ$OV VLH DXIJHEURFKHQ ZDUHQ KDWWH HU LQQHQ LP 'ROPDQ HLQ SDDU/LUHIU1RW]HLWHQHLQJHQlKW'LH0XWWHUKDWWHVLHLKP EHLP$EVFKLHGJHJHEHQ7RGRUZROOWHQLFKWGD‰GHU6FKl IHU VLH EHPHUNWH XQG YHUVXFKWH GDKHU YRUVLFKWLJ LKQ YRQ VHLQHU%LWWHDE]XEULQJHQ Ä0DFK GLU GHVKDOE NHLQH *HGDQNHQ %DL 3HWNR³ KDWWH GHU MXQJH 0DQQ JHVDJW DOV VLH GDV OHW]WHPDO EHU VHLQH .OHLGXQJ JHUHGHWKDWWHQ Ä2E PLW 'ROPDQ RGHU RKQH LKQ 6LHVFKLFNHQPLFK]X$OODKGLH+HUUHQ7UNHQZHQQVLH PLFKHUZLVFKHQ³Ä'DVLVWVFKRQVRMXQJHV%OXWDEHUIU DOOH)lOOH«³ Ä/D‰GDVPHLQH6RUJHVHLQ«³ 'DPLW VFKLHQ GDV *HVSUlFK EHU GLH .OHLGXQJ DEJH VFKORVVHQ JHZHVHQ ]X VHLQ GRFK 7RGRU ILQJ HLQLJH 0DOH ]XIlOOLJ%XUXQVXVå %OLFN DXI ZLH HU VHLQHQ 'ROPDQ DEWD VWHWH 2E HU HWZDV YHUPXWHW" EHUOHJWH HU XQG JDE VLFK VHOEVW$QWZRUW'D‰HUVRVFKODXLVWJODXEHLFKQLFKW« 'LH 6RQQH VFKLHQ MHW]W GLUHNW DXI GLH +WWHQWU 'XUFK GLH VFKPDOHQ 5LW]HQ XQG GDV $VWORFK REHQ LQ GHU 7U ILHOHQ 6WUDKOHQ XQG LQ LKUHU %DKQ WDQ]WHQ 6WDXEWHLOFKHQ 7RGRU VHW]WH GDV 0DULHQNlIHUFKHQ DXI VHLQH +DQGIOlFKH XQGEDWHVLQ*HGDQNHQZHJ]XIOLHJHQ$OVKlWWHGHU0DUL HQNlIHUVHLQHQ:XQVFKHUUDWHQNODSSWHHUGLH'HFNHOFKHQ DXIXQGGLHGQQHQ)OJHOWUXJHQLKQGXUFKGLH/LFKWEDKQ GHV6WUDKOV0LWHUVWDXQOLFKHU6LFKHUKHLWVFKOSIWHHUGXUFK GDV$VWORFKXQGYHUVFKZDQG(UIORJGDYRQLUJHQGZRKLQ

JHQDXVRZLH7RGRUV*HIlKUWHQORVJH]RJHQZDUHQ =HKQ7DJHZDUHQHVVFKRQGD‰HUQLFKWVPHKUYRQLKQHQ ZX‰WH GD‰ HU YRQ VHLQHP %UXGHU 'LPLWHU $EVFKLHG JH QRPPHQ KDWWH (U GDFKWH GDUDQ ZLH HU LP *UDV JHOHJHQ ZLH VHLQ %UXGHU QHEHQ LKP JHNQLHW XQG VHLQH VFKODIIH +DQG JHKDOWHQ KDWWH $XI GHP *HVLFKW GHV :RLZRGHQ ZDUHQ6FKPHU]XQG8QVFKOVVLJNHLW]XOHVHQJHZHVHQ« (V VFKPHU]WH +DGVFKL 'LPLWHU XP 7RGRU XQG HU VFKZDQNWH LPPHU QRFK RE HU VHLQHU %LWWH QDFKNRPPHQ XQG LKQ LQ GHP 6FKDISIHUFK ]XUFNODVVHQ VROOWH 7RGRU ZX‰WH GD‰ VHLQ %UXGHU GLHV QXU LP lX‰HUVWHQ 1RWIDOO WXQ ZUGH DEHU GLHVHU lX‰HUVWH 1RWIDOO VFKLHQ HLQJHWUHWHQ ]X VHLQ 6WHLOH 3IDGH HUZDUWHWHQ GLH )UHLVFKDU QHXH .lPSIH XQG *HIDKUHQ ODJHQ DXI LKUHP XQEHNDQQWHQ :HJ 'D]X EHGXUIWH HV NUlIWLJHU /HXWH XQG 7RGRUV :XQGHQ ZDUHQ VFKZHUVLHEOXWHWHQXQGKDWWHQ]XULHFKHQEHJRQQHQ Ä/D‰PLFKKLHU%UXGHU³KDWWHHUJHVDJWÄOD‰PLFKKLHU « 6REDOG LFK JHVXQG ELQ ILQGH HQWZHGHU LFK HXFK RGHU GX VXFKVW PLFK « 'HQN DQ GLH DQGHUHQ GHQN QLFKW DQ PLFK«,FKELQVFKRQ]XU+lOIWHKLQEHU«³ Ä5HGQLFKWVR7RGRU³KDWWHLKQGHU+DGVFKLDQJHIDKUHQ 'DEHLKDWWH HUGHQ.RSIZHJJHGUHKWGDPLW VHLQ %UXGHU QLFKWVDKGD‰HUZHLQWH Ä5HGQLFKWVROFKHV=HXJ«'XZLUVWZLHGHUJHVXQGXQG ILQGHVWXQVDXIGHU6FKOVVHOEOXPHQZLHVH«,FKZHL‰QXU QLFKWZDVLFK&KULVWDNLVDJHQVROO:HQQHUPLW*XQWVFKR ]XXQVVW|‰WZHUGHQVLHQDFKGLUIUDJHQ«³ (U EHXJWH VLFK KHUXQWHU XQG N‰WH LKQ ]XP $EVFKLHG 'DQQ QDKP HU GHQ 6FKlIHU EHLVHLWH XQG UHGHWH ODQJH PLW LKP7RGRUVDKGDV*HOGGDVHULKPJDEXQGK|UWHZLHHU LKP DXIWUXJ GHQ %UXGHU JHVXQG ]X SIOHJHQ XQG GDQQ LQ GLH:DODFKHL]XVFKLFNHQ«

$OVHUGLHVK|UWHVFKOR‰HUGLH$XJHQ$OVRJODXEWHGHU +DGVFKLQLFKWDQHLQEDOGLJHV:LHGHUVHKHQLP%DONDQ $OV GLH )UHLVFKDU DXIEUDFK ZDQGWH 7RGRU PKVDP GHQ .RSI XQG VDK LKU QDFK 'LH -XQJHQ JLQJHQ PLW JHVHQNWHQ .|SIHQ QXU GHU +DGVFKL GUHKWH VLFK RIW XP XQG ZLQNWH 'LH7UHQQXQJZDUIUEHLGHQLFKWOHLFKW« :RP|JHQVLHMHW]WVHLQ"IUDJWHVLFKGHUMXQJH+HLGXFN :LH HLQ 9RJHO PLW JHEURFKHQHP )OJHO ZDU HU ]XUFNJH EOLHEHQ HU IKOWH VLFK Y|OOLJ YHUODVVHQ XQG EHUIOVVLJ 6HOEVWPLWOHLG EHUZlOWLJWH LKQ ODQJVDP UROOWHQ 7UlQHQ EHU VHLQH EOHLFKHQ :DQJHQ (U ZLVFKWH VLH PLW GHP +DQGUFNHQDEXQGVDKVLFKXP1XUJXWGD‰QLHPDQGLQ GHU 1lKH ZDU 7RGRU NRQQWH VLFK QLFKW YHU]HLKHQ GD‰ HU JHZHLQWKDWWH«:DVKDWWHHUVHLWVHLQHU 9HUZXQGXQJ IU 6FKPHU]HQ HUWUDJHQ XQG QLH KDWWH HU JHNODJW %HVRQGHUV VFKOLPP ZDU HV JHZHVHQ DOV VLH DXI GHP )HOVHQ DQ GHU 6WUD‰H QDFK 6HZOLHZR IHVWJHVHVVHQ KDWWHQ 'HQ JDQ]HQ 7DJ KDWWHQ VLH DXI GHP KHL‰HQ 6WHLQ JHOHJHQ GHQ JDQ]HQ 7DJ ZLH (LGHFKVHQ LQ GHU 6RQQH JHEUDWHQ XQG GHU 6FKPHU] KDWWH JHERKUW XQG JHERKUW 7RGRU GlPPHUWH HLQ XQGLP6FKODIK|UWHHU:DVVHUUDXVFKHQYLHO:DVVHU« 'LH(ULQQHUXQJDQGDV:DVVHUOHQNWHVHLQH*HGDQNHQDXI GDV 6FKVVHOFKHQ 7RGRU QDKP GDV 6WFNFKHQ %URW XQG EURFNWHHVLQGLH0LOFK$OVHUGHQ+RO]O|IIHOLQGLHOHHUH 6FKVVHO OHJWH PHUNWH HU GD‰ HU LPPHU QRFK +XQJHU KDWWH6HLWHLQSDDU7DJHQZXUGHHUYRQVHLQHU5DWLRQQLFKW PHKUVDWW(UVFKOHSSWHVLFK]XGHP)l‰FKHQPLW:HL‰Nl VH KRE GHQ +RO]GHFNHO DE XQG ODQJWH LQ GLH 6DO]EUKH 'HU.lVHZDUZHLFKXQGIHWWLJ 1DFKGHP 7RGRU JHJHVVHQ KDWWH NURFK HU ]XUFN DXIV +HXXQGVWUHFNWHVLFKDXIGHP5FNHQDXV)UDOOH)lOOH WDVWHWHHUQDFKGHULQGHQ.UlXWHUQYHUZKOWHQ3LVWROHXQG

XQWHUVXFKWH VLH %HL GHU 7UHQQXQJ KDWWH 7RGRU GDUXP JHEHWHQ GD‰ VLH LKP VHLQH )OLQWH JHJHQ GLH 3LVWROH HLQ WDXVFKWHQ6LHZRJQLFKWVRVFKZHUXQGYLHOOHLFKWNDPVLH LKP HLQPDO ]XVWDWWHQ (U EOLFNWH LQ GHQ 3LVWROHQODXI XQG OHJWH GLH :DIIH QHEHQ VLFK -HW]W NRQQWH HU HLQ :HLOFKHQ G|VHQ XP HWZDV 6FKODI QDFK]XKROHQ VRODQJH %XUXQVXV QRFKQLFKWGDZDU:RP|JOLFKPX‰WHHUZLHGHUGLHJDQ]H 1DFKWZDFKEOHLEHQ 

'LH+HUGHGUlQJWHVLFKDP%DFK$XIVHLQHQ6FKlIHUVWDE JHVWW]WVWDQG%XUXQVXVGDEHLXQGUDXFKWH6HLQHQLHGULJH 6WLUQZDUQRFKQLHGULJHUJHZRUGHQXQGGLHKDOE]XJHNQLI IHQHQ bXJOHLQ EOLFNWHQ E|VH XQG PL‰WUDXLVFK (U ZDU ZWHQG ZWHQG DXI VLFK VHOEVW $OOHV PX‰ PLW %HGDFKW DQJHJDQJHQ ZHUGHQ DEHU HU ZDU ZLH HLQ %OLQGHU DXI GDV %HLOORVJHWDSSW =XHUVWKlWWHHU IHVWVWHOOHQ PVVHQ RE GHU -XQJH VFKOLHI XP LKQ GDQQ HUVW EHUUDVFKHQ ]X N|QQHQ DEHUHUZDUHLQIDFKORVJHJDQJHQ«6FK|QGXPPKlWWHHU VLFKGDEHU7RGRUV.RSIJHEHXJWXQGGHUKlWWHLKPZLH QLFKWV HLQV PLW GHU 3LVWROH GUDXIJHEUDQQW « 1XU JXW GD‰ GHULKQDQJHVSURFKHQKDWWHVRQVW« %XUXQVXV OHKQWH VLFK DXI GHQ 6WDE GD‰ GDV +RO] XQWHU VHLQHP JUR‰HQ VWlPPLJHQ .|USHU NQDFNWH +RIIHQWOLFK KDWGHU-XQJHVHLQHKHLPOLFKHQ$EVLFKWHQQLFKWHUUDWHQ« 9LHOOHLFKW KDW HU DXFK JDU QLFKWV JHPHUNW :HQQ HU ZDV PLWJHNULHJWKlWWHKlWWHHUGDQQZRKODP0RUJHQ JHIUDJW ZDVGHQ%RFNLQ8QUXKHYHUVHW]WKDWWH" 'LHVHU OHW]WH *HGDQNH KHOOWH %XUXQVXVå 6WLUQ DXI 6L FKHUOLFK KDWWH 7RGRU QLFKWV JHPHUNW XQG VHOEVW ZHQQ HU ZDV JHPHUNW KlWWH ZUGH HU %XUXQVXV VLFK YRQ MHW]W DQ

LKP JHJHQEHU VR EHQHKPHQ GD‰ HU MHGHQ 9HUGDFKW ]HU VWUHXWH (U NRQQWH VLFK =HLW ODVVHQ +lWWH HU LKQ VFKRQ XPJHEUDFKW XQG VHLQ %UXGHU ZlUH ZLHGHUJHNRPPHQ ² ZDVKlWWHHULKPGDDQWZRUWHQVROOHQ" 6R HLQH %HJHJQXQJ KDWWH %XUXQVXV QLFKW YRUJHVHKHQ XQG EHL GHU $XVVLFKW QDFK GHP 0RUG GHP :RLZRGHQ LQ GLH+lQGH]XIDOOHQEHUOLHIHVLKQNDOW%HNDPLKQ+DG VFKL'LPLWHU]XIDVVHQZDULKPGDVURWH+DOVEDQGVLFKHU 6RHLQHUIDFNHOWQLFKWODQJH 'HU6FKlIHUJLQJ]XUQDKHQ4XHOOHEOLHVGDVKHUDEJHIDO OHQH%XFKHQODXEZHJXQGWDXFKWHGLH /LSSHQLQGDVNDOWH :DVVHU$OVHUVLFKDXIULFKWHWHKDWWHGLH+HUGHGDV%lFK OHLQGXUFKZDWHWXQGEHZHJWHVLFKEHUJDXIZlUWV(UULHIGLH +XQGHXQGPDUVFKLHUWHORV(UZROOWHVFKQHOO]XU+|KOH (LQNDXPVLFKWEDUHU3IDGIKUWH]XLKUYRULKUHUGXQNOHQ gIIQXQJ ZXFKV GLFKWHV %XFKHQJHVWUSS XQG YHUEDUJ VLH YRU QHXJLHULJHQ $XJHQ (LQ IOLQNHV :LHVHO VSUDQJ GDUDXV KHUYRU XQG YHUVFKZDQG LP :DOG %XUXQVXV ]RJ VHLQ VFKZHUHV 0HVVHU DXV GHP *XUW VFKQLWW LQ GHP *HEVFK %XFKHQWULHEH DE EDQG VLH ]XVDPPHQ XQG PDFKWH HLQHQ %HVHQ1DFKGHPHUGHQ+|KOHQERGHQJHIHJWKDWWHVWLHJHU KLQXQWHU UXSIWH *UDV XQG )DUQNUDXW OHJWH GDPLW GLH HLQH (FNHDXVXQGGDV/DJHUZDUIHUWLJ(UEHUOHJWHREHUGHQ -XQJHQJOHLFKMHW]WKHUEULQJHQVROOWHWDWHVGDQQDEHUGRFK QLFKW 6WDWW GHVVHQ VHW]WH HU VLFK YRU GDV )HOVORFK XQG VFKDXWHKLQXQWHU 'LH +HUGH JUDVWH IULHGOLFK LKUH *O|FNFKHQ ELPPHOWHQ JOHLFKPl‰LJ XQG HLQVFKOlIHUQG 'LH 6RQQH ZlUPWH XQG GDV*UDVURFKZLHLP0DL'LH6WLOOHGHU%HUJHGHUEODXH +LPPHO XQG GLH JHILHGHUWHQ :|ONFKHQ UHJWHQ ]XP 7UlX PHQ DQ ,Q GLHVHU :HOW PXQWHUHU %lFKOHLQ YHUVSLHOWHU JUQHU %OlWWHU GXIWHQGHU *UlVHU ZDU GHU *HGDQNH DQ GHQ

7RG/lVWHUXQJDEHUJOHLFKVDPGHU1DWXU]XP7URW]ZDUHU KLHU$XVJDQJVSXQNWIUGLH7UlXPHHLQHV6FKlIHUVJHZRU GHQ %XUXQVXV VWDQG DXI GHP VWHLOHQ *UDW XQG VHLQH *H GDQNHQ ZDQGHUWH ]X HLQHU JUR‰HQ +HUGH =HKQ .QHFKWH KDWWHQ VLH KHUJHWULHEHQ GDV *HGU|KQ GHU *ORFNHQ KDOOWH DOV ]|JH HLQ +HHU GHV 6XOWDQV YRUEHL ,Q %XUXQVXVå %H ZX‰WVHLQYHUEDQGVLFKDOOHV)HLHUOLFKHPLWGHP.ODQJYRQ 9LHKJORFNHQ *UR‰WXQ RKQH *ORFNHQ ZDU VHLQHU $QVLFKW QDFKQLFKWVZHUW

$OV GLH 6RQQH VLFK QHLJWH VWLHJ HU GHQ 3IDG KLQDE 'LH +WWH ODJ VWLOO LP 6FKDWWHQ GHV %HUJJLSIHOV $EHQGNKOH KDWWH GLH 7DOVHQNH DXVJHIOOW 'HU 6FKlIHU UlXVSHUWH VLFK ]XU$QNQGLJXQJXQGVWLH‰GLH7UDXI +LQWHQUDVFKHOWHGDV+HX Ä*XWHQ$EHQG³%XUXQVXVJU‰WH]XPHUVWHQPDO Ä*RWW]XP*UX‰H%DL3HWNR³HUZLGHUWH7RGRU

'HU6FKlIHUVHW]WHVLFKQHEHQLKQDXIHLQHQGUHLEHLQLJHQ +RFNHUXQGEHJDQQ]XUDXFKHQ Ä:HQQGXZ‰WHVWZDVLFKGLUIUHLQ/DJHUKHUJHULFKWHW KDEH³VDJWHHUXQGIJWHDQGHU=LJDUHWWH]LHKHQGKLQ]X Ä%LVWGXVRZHLW"³ Ä-D«³ Ä'DQQZROOHQZLUDXIEUHFKHQ«³ 7RGRU NDP NDXP YRP )OHFN 'LH :XQGH LP %HLQ VFKPHU]WHLKPZLHGHU(UKDWWHGHQQlFKWOLFKHQ=ZLVFKHQ IDOOIDVWYHUJHVVHQVWW]WHVLFKDXIGLH6FKXOWHUGHV6FKl IHUV XQG VHLQ 9HUWUDXHQ NHKUWH DOOPlKOLFK ZLHGHU ]XUFN %XUXQVXVVFKULWWJDQ]EHKXWVDPDXVPDFKWHLKQDXI6WHLQH XQG :XU]HOQ DXIPHUNVDP XQG VHLQH 6WLPPH NODQJ VHKU IUVRUJOLFK 9LHOOHLFKW KDE LFK PLU JHVWHUQ QXU ZDV HLQJHELOGHW GDFKWH GHU MXQJH +HLGXFN YLHOOHLFKW ZROOWH %DL 3HWNR ZLUNOLFKQXUVFKQHOOLQGLH+UGH$EHUGDV%HLO"PHOGHWH VLFK UDVFK HLQH LQQHUH 6WLPPH ]X :RUW 7RGRU YHUZDUI VHLQHQ$UJZRKQ,QVRHLQHU)LQVWHUQLVZLUGEHLYHUGlFKWL JHQ*HUlXVFKHQMHGHUQDFKGHP%HLOJUHLIHQ1HLQ%XUXQ VXVLVWVFKRQHLQJXWHU0HQVFKGDV*HELUJHKDWLKQQXUHLQ EL‰FKHQ ZLOG XQG YHUVFKORVVHQ JHPDFKW :LH YLHOH -DKUH PRFKWH HU DOOHLQ PLW GHU +HUGH YHUEUDFKW KDEHQ" 6FKDIH VLQGQLFKWGHUVHOEH8PJDQJZLH0HQVFKHQ 6LH VHW]WHQ VLFK DXI HLQHQ WURFNHQHQ %DXPVWXPSI XP DXV]XUXKHQ7RGRUVWUHFNWHGDVYHUOHW]WH%HLQDXVXQGVRJ PLWYROOHQ=JHQGLH$EHQGOXIWHLQ Ä+DVWGX.LQGHU%DL3HWNR"³ Ä,FK KDWWH ZHOFKH MHW]W KDE LFK NHLQH PHKU³ ORJ GHU 6FKlIHU Ä:LHGDV"³7RGRU]RJGLH%UDXHQKRFK Ä(UVWVWDUELKUH0XWWHUGDQDFKDXFKVLH«³

7RGRUIUDJWHQLFKWZHLWHUHUZROOWHQLFKWLQGHV6FKlIHUV 6FKPHU]HQ KHUXPVWRFKHUQ GRFK %XUXQVXV IXKU YRQ VLFK DXVIRUW Ä$P VFKOLPPHQ +DOV VLQG VLH JHVWRUEHQ « /LHIHQ EODX DQ EHNDPHQ NHLQH /XIW PHKU ² XQG DXV « -HW]W ELQ LFK JDQ]DOOHLQ«$EHUVRNDQQPDQQLFKWOHEHQ«'DLVWHLQH :LWZHGLHP|FKWHPLFKQHKPHQGLH)UDXDEHUVLHKDWPLU ]XYLHOH.LQGHU«+DENHLQH /XVW IUHPGH 0lXOHU]X IW WHUQ«,FKKDEHLQ$XJHDXIHLQHDXV'UMDQRZRJHZRUIHQ DEHUZHUZHL‰REPDQVLHPLUJHEHQZLUG,KU9DWHULVWHLQ *HL]KDOVGHQNWQXUDQV*HOGGHUVXFKWHLQHQ5HLFKHQ«³ =XP HUVWHQPDO ORJ %XUXQVXV VR XQG HU ZXQGHUWH VLFK VHOEVWEHUVHLQ*HVFKLFN3O|W]OLFKNDPLKPGHU*HGDQNH GHQ-XQJHQ]XVlW]OLFKXPGHVVHQ$QWHLODQGHQ*ROGVWN NHQ]XELWWHQDEHUGD HU ZX‰WH ZLH VFKZHU *HOG ]X YHU GLHQHQ ZDU YHUVWXPPWH HU JOHLFK ZLHGHU :HU ZlUH GHQQ VRYHUUFNW]XVDJHQ'DKDVWGXåV«:HQQHUMHW]WHWZDV GDYRQ HUZlKQWH ZUGH 7RGRU VHLQHQ $QWHLO LKP QRFK LQ GLHVHU 1DFKW DEYHUODQJHQ « 1XU QLFKWV EHUKDVWHQ %HV VHU ZDUåV ZHQQ HU DQ GLH 0Q]HQ KHUDQNlPH GLH GHU +HLGXFNLQVHLQHP'ROPDQYHUVWHFNWKDW« 'LHVHU *HGDQNH EHZRJ LKQ DXI]XVWHKHQ XQG 7RGRU GLH +DQG]XUHLFKHQ-HZHLWHUGHU3IDGQDFKREHQIKUWHGHVWR VWHLOHU ZXUGH HU :HQQ %XUXQVXV MHW]W QLFKW KHUDXVEHNDP ZR GHU -XQJH VHLQ EULJHV *HOG YHUEDUJ ZUGH HU HV QLH HUIDKUHQ 8QG HU OHJWH GHP 9HUZXQGHWHQ GHQ $UP XP GLH 7DLOOH XQG VHW]WH ODQJVDP )X‰ YRU )X‰ 9RQ =HLW ]X =HLW VWROSHUWH GHU 6FKlIHU DEVLFKWOLFK HU VFKR‰ YRUZlUWV XQG VHLQH +DQG JOLWW EHU 7RGRUV .|USHU $OV VLH REHQ DQODQJ WHQ ZX‰WH HU ZR GLH 0Q]HQ HLQJHQlKW ZDUHQ 8QWHU GHU OLQNHQ$FKVHOKDWWHHUHWZDV+DUWHVJHVSUW'HP$EWDVWHQ QDFKZDUHQHVQLFKWYLHOHDEHULPPHUKLQ«

'HU 0RQG JLQJ DXI DOV VLH GLH +|KOH HUUHLFKWHQ 7RGRU OHJWH VLFK DXI VHLQ QHXHV /DJHU GHU 6FKlIHU VHW]WH VLFK GDQHEHQDXIGLH6WHLQH(UKDWWHNHLQH/XVWLQGLHHLQVDPH +WWH ]XUFN]XNHKUHQ 6R ]QGHWH HU VLFK HUQHXW HLQH =LJDUHWWHDQXQGVDJWH Ä'LHVHV /RFK NHQQHQ QXU ZLU ]ZHL PHLQ 7HLOKDEHU XQG LFK:LUKDWWHQYRUKLHUGHQ:HL‰NlVHDQ]XVHW]HQHVZDU XQV DEHU HLQ EL‰FKHQ VWHLO 'HU 3IDG LVW VFKPDO XQG ZHLW LVWåV DXFK (LQ JDQ]HV )l‰FKHQ DXI GHP 5FNHQ UDXI]X VFKOHSSHQLVWQLFKWJHUDGHOHLFKW$XFKWULHEVLFKHLQ:LH VHOKLHUREHQUXPXQGVR«³ Ä(VLVWUHFKWVWHLO³SIOLFKWHWHLKP7RGRUEHLÄ9RUDOOHP IUMHPDQGHQZLHPLFK³ Ä-HW]W LVW GLU GHU $XIVWLHJ VFKZHUJHIDOOHQ DEHU LQ HLQ SDDU7DJHQZLUVWGXVSULQJHQZLHHLQ=LFNOHLQ³PHLQWHGHU 6FKlIHU Ä:HQQ LFK GLFK VR VHKH IUDJH LFK PLFK ZDUXP GX VR MXQJ DOOHV KLQJHJHEHQ KDVW « 6LFKHUOLFK VWDQG GLU GLH $UPXW ELV ]XP +DOV GD‰ GX LQ GLH %HUJH JHJDQJHQ ELVW«³ Ä$UPXW"³ 7RGRU VDK LKQ DQ Ä0HLQ 9DWHU ZDU HLQ YHU P|JHQGHU0DQQ%DL3HWNR:LUEHVLW]HQHLQHQ+DQ>+HU EHUJHWUN @KDQGHOQDXFKPLW7XFK$EHUGDVLVWHVQLFKW «6RNDQQPDQQLFKWOlQJHUOHEHQ«³ Ä:LH"³'HU6FKlIHUKREGLH%UDXHQ Ä6R ZLH GDV OLHEH 9LHK « -HGHU 7UNH NDQQ XQVHU 6FKOlFKWHUVHLQ«)UHLKHLWEUDXFKHQZLU%DL3HWNRQLFKW *HOG «³ 'DV OHW]WH :RUW EUDFKWH %XUXQVXV DXI VHLQHQ *HGDQNHQ ]XUFN GHU LKP GLHVHQ $EHQG ]XP HUVWHQPDO JHNRPPHQZDUDEHUHUEHKLHOWLKQZLHGHUIUVLFK Ä)UHLKHLW VFK|Q XQG JXW DEHU RKQH *HOG JHKWåV QLFKW³ VDJWHHUWLHIVLQQLJ 8QGZlKUHQG7RGRUVLFKEHPKWHLKPGDU]XOHJHQZDV

)UHLKHLWLVWXQGGD‰*HOGLP9HUJOHLFKPLWLKUQLFKWV]lKOW UDXFKWH %XUXQVXV XQG YHUVFKOR‰ HLQH (UNHQQWQLV LQ VLFK 3UHLVHGLH)UHLKHLWXQGYHUVWHFNGHLQ*HOGLP:DPV« 'DVEHZRJLKQQRFKYRUVLFKWLJHU]XVHLQ 

%XUXQVXVå 7HLOKDEHUZDUHLQHWZDVNUXPPHUDOWHU0DQQ PLW VFKWWHUHP DQJHVHQJWHP %lUWFKHQ -H PGHU VHLQH %HLQHDQGHQVWHLOHQ+lQJHQZXUGHQGHVWRXQHUPGOLFKHU JLQJ VHLQH =XQJH :HQQ HU QLFKW PLW GHQ 6FKDIHQ UHGHWH VFKLPSIWH HU PLW GHP +XQG RGHU YHUZQVFKWH VLFK VHOEVW ZHJHQHWZDV)HUQHPOlQJVW9HUJDQJHQHP6HLQH$QNXQIW KHOOWH %XUXQVXVå 6WLUQ HLQ ZHQLJ DXI 'HU $OWH HU]lKOWH 1HXLJNHLWHQ DXV GHP 'RUI 8QG HU JHZDQQ DOOHP GLH OXVWLJH 6HLWH DE (U KlWWH VLFK YHUVSlWHW ZHLO HU ]X HLQHP %HJUlEQLV JHKHQ PX‰WH .ROMX *HJD ZDU JHVWRUEHQ HLQ *HIlKUWH VHLQHU -XJHQGMDKUH 0DQ HU]lKOWH HU KlWWH VLFK XQWHU GHQ 1X‰EDXP QHEHQ GHU :LHVH GHV 3RSHQ JHOHJW XQGZLHHUVRGDJHOHJHQKlWWHZlUHHUHLQJHVFKODIHQ'HU 3RSHZlUHJHUDGHDXIGHU:LHVHJHZHVHQKlWWHGHQVFKOD IHQGHQ6FKlIHU JHVHKHQ XQG LKQ ZHFNHQ ZROOHQ GDPLW HU VLFKLQGHPGLFKWHQ6FKDWWHQQLFKWHUNlOWH'HU9DWHU3RSH EHXJW VLFK DOVR PLW VHLQHP VWUXSSLJHQ URVWEUDXQHQ %DUW EHU LKQ 'HU DQGHUH ZDFKW DXI MDSSW YRU hEHUUDVFKXQJ XQG 6FKUHFN QDFK /XIW XQG UHJW VLFK QLFKW PHKU 0X‰ GDYRU ZDV 6FKUHFNOLFKHV JHWUlXPW KDEHQ « (U ZDU KLQ :LUKDEHQLKQEHJUDEHQ6HLQH)UDXKHXOWXQGYHUZQVFKW GHQ3RSHQGHU3RSH JHKWYRUQHZHJXQGVLQJW (LQ 6NDQ GDOVDJH LFK GLU (LQ 5LHVHQVNDQGDO 1D XP .ROMX *HJD ZHLQWZHQLJVWHQVZHU'RFKZHUVROOGLHDQGHUQGDEHNOD JHQ"³

Ä:HQ"³IUDJWH%XUXQVXV Ä1D GLH GLH EHU GHQ 'HEHO 'MDO JH]RJHQ VLQG « 'LH 7UNHQ EUVWHQ VLFK VLH KlWWHQ VLH HUOHGLJW « 'HU .RSI GHV:RLZRGHQVROOMHW]WQRFKLQ7LUQRZRYRUGHP.RQDN >$PWVVLW] HLQHV KRKHQ %HDPWHQ DXFK .|QLJVSDODVW WUN @DXIJHVSLH‰WVHLQ«³ Ä:HUKDWGLUGDVJHVDJW"³ Ä8QVHUH DXV GHP 'RUI PLW HLJHQHQ $XJHQ ZROOHQ VLHåV JHVHKHQKDEHQ«³ 0HKU IUDJWH %XUXQVXV QLFKW $EHQGV VWLHJ HU LQ GLH +|KOH ]X 7RGRU EUDFKWH LKP HLQ )l‰FKHQ :DVVHU %URW XQG 6SHFN XQG XQWHUKLHOW VLFK ODQJH PLW GHP -XQJHQ (U ZROOWHKHUDXVNULHJHQREVHLQ%UXGHUGHUDOOHLQLJH:RLZR GHGHU)UHLVFKDUZDU 1DFKGLHVHP*HVSUlFKOLH‰HUVLFKYROOHYLHU7DJHQLFKW EOLFNHQ (U ZDU VFKQHOO HLQPDO QDFK 'UMDQRZR KLQEHU JHJDQJHQXPGLH5LFKWLJNHLWGHU1DFKULFKW]XEHUSUIHQ 'LH ZRKOKDEHQGHQ /HXWH DXV 'UMDQRZR ZDUHQ HLJHQV LQ 7LUQRZR JHZHVHQ XP GHQ .RSI GHV +DGVFKLV ]X VHKHQ 'HU 0DQQ KDEH ELV ]XP OHW]WHQ JHNlPSIW 6HLQH /HXWH KlWWHQ HLQH 0HQJH 6ROGDWHQ XQG EHZDIIQHWH WUNLVFKH =LYLOLVWHQKLQJHPDFKW0DQHU]lKOWHVRJDUGLH7UNHQYRQ GLHVVHLWVXQGMHQVHLWVGHV%DONDQVKlWWHQVLFKLQGLH+DDUH JHNULHJWZHPGHU.RSIGHV:RLZRGHQ]XVWHKH 'LH (LQ]HOKHLWHQ LQWHUHVVLHUWHQ %XUXQVXV QLFKW 1XU DOV HUK|UWHGHU%H]LUNVJRXYHUQHXUYRQ5XVVHKlWWHHLQHPGHU EHZDIIQHWHQ =LYLOLVWHQ ]HKQ /LUH GDIU DXI GLH +DQG JH ]lKOWOHXFKWHWHQVHLQH$XJHQDXI $XV 'UMDQRZR ZDU %XUXQVXV VFKRQ QDFK ]ZHL 7DJHQ ]XUFN NRQQWH VLFK DEHU QLFKW HQWVFKOLH‰HQ ]XU +|KOH KLQDXI]XJHKHQ(UIUFKWHWHGHU -XQJH ZUGH VRIRUW PHU NHQZDVHULKP]XJHGDFKWKDWWH«

(UVW DP YLHUWHQ 7DJ PDFKWH HU VLFK LQ GHU 'lPPHUXQJ DXI GHQ :HJ QDFK REHQ 'DV %HLO KDWWH HU ZLH HLQ +RO] IlOOHU EHU GHQ $UP JHKlQJW (U ZROOWH QRFK LQ GLHVHU 1DFKWPLWGHP+HLGXFNHQHLQ(QGHPDFKHQ 7RGRUVD‰YRUGHU+|KOH(UKDWWHVRGLH6RQQHXQWHUJH KHQVHKHQXQGGHQ$EHQGHUZDUWHW,QOHW]WHU=HLWZXUGHHU PLWMHGHP7DJNUlIWLJHU1RFKHLQKDOEHU0RQDW5XKHXQG HUZUGHGHP6FKlIHUXQGGHQ%HUJHQ/HEHZRKOVDJHQ(U ZX‰WH QXU QLFKW ZDV HU GDQQ WXQ VROOWH 2E HU VHLQH *H IlKUWHQ VXFKHQ RGHU VLFK DQ GHQ $XIWUDJ VHLQHV %UXGHUV 'LPLWHU KDOWHQ XQG LQ GLH :DODFKHL JHKHQ VROOWH 'RFK GLHVPDOPX‰WHHUZRKODXIGHQ:RLZRGHQK|UHQ'DPDOV KDWWH HU HV QLFKW JHWDQ ZDU LQ GLH YRUGHUVWH /LQLH JHJDQ JHQ XQG YHUZXQGHW ZRUGHQ (V KDWWH LKQ LP OHW]WHQ *H IHFKWHUZLVFKWEHYRUVLHGLH%HUJHYHUOLH‰HQ 'LH 6FKULWWH GHV 6FKlIHUV OLH‰HQ LKQ DXIKRUFKHQ 'DV EHNDQQWH+VWHOQEHUXKLJWHLKQ %XUXQVXVJU‰WHXQGVHW]WHVLFK]XLKP'LH%UDXHQXQG GLH 'XQNHOKHLW YHUEDUJHQ GLH $XJHQ GHV 6FKlIHUV 'DV %HLOUXWVFKWHYRQVHLQHP$UPXQGNOLUUWHDXIGLH6WHLQH Ä:DUVWGX+RO]VFKODJHQ"³IUDJWH7RGRU Ä'DVDXFK«8QGGDQQ«LFKGDFKWHGLUGDV'LQJGD ]XODVVHQ«%HVVHUHVEOHLEWKLHUYLHOOHLFKWEUDXFKVWGXåV XQG « 'HU -XQJH KDW HLQH 3LVWROH GDFKWH LFK PLU DEHU ZDV LVW VFKRQ HLQH 3LVWROH « 8QG GX GDUIVW DXFK QLFKW NQDOOHQGDVK|UWPDQ«:HQQ]X]XIlOOLJYRQMHPDQGHP EHUIDOOHQZLUVWLVWGDV%HLOZDVDQGHUHV«'DNDQQVWGX GHP.HUOLQDOOHU6WLOOHHLQVEHUQ6FKlGHOJHEHQ«8QG VLHK ]X GD‰ GX GDV :LHVHO HUVFKOlJVW GD‰ GLUåV QLFKW ]ZLVFKHQGHQ%HLQHQUXPOlXIW(LQPDO]XVFKODJHQ²XQG 6FKOX‰«³ %XUXQVXV UHGHWH XQG lUJHUWH VLFK LP VWLOOHQ GD‰ HU GDV

%HLO VR GXPP KDWWH IDOOHQ ODVVHQ :LHGHU PX‰WH HU VHLQ 9RUKDEHQ YHUVFKLHEHQ hEULJHQV ZDU HV YLHOOHLFKW JXW VR 'HU-XQJHZUGHLKPQRFKPHKUYHUWUDXHQGDVZUGH HV LKPOHLFKWHUPDFKHQ.RPPW=HLWNRPPW5DW(UNRQQWH ZDUWHQ

7RGRU K|UWH VLFK GLH (UNOlUXQJHQ GHV 6FKlIHUV DQ XQG GLHGXUFKGDV.OLUUHQGHV(LVHQVKHUYRUJHUXIHQH%HVRUJQLV VFKZDQG DOOPlKOLFK DXV HLQHP +HU]HQ 'LHVHV .OLUUHQ KDWWHLKQDQGLH1DFKWHULQQHUWDOVVLFK%XUXQVXV]XGHP %HLO KLQJHVWRKOHQ KDWWH ZHU ZHL‰ LQ ZHOFKHU $EVLFKW « -HW]W YHUVFKPRO] GHU 6WDKO PLW GHP NKOHQ 'lPPHU GHV *HELUJVDEHQGV $Q GHQ :RUWHQ GHV 6FKlIHUV ZDU HWZDV :DKUHV ² LQ 7RGRUV /DJH ZDU HLQH 3LVWROH JDU QLFKWV 'HU (LQIDOO PLW GHP%HLOZDUJXW'D‰HUåVIUDOOH)lOOH]XU+DQGKDWWH« 7RGRUVWUHFNWHGDVYHUOHW]WH%HLQDXVXQGPXVWHUWH%XUXQ

VXVå YRUQEHUJHEHXJWH*HVWDOW Ä:DV1HXHV%DL3HWNR"³ Ä1LFKWV LPPHU GDVVHOEH 'HLQH /HXWH VLQG LQ GHQ :lO GHUQXQWHUJHWDXFKWXQGGLH7UNHQODXIHQVLFKGLH+DFNHQ DEXPVLH]XVXFKHQ«³ Ä8QGLVWHVLUJHQGZR]XHLQHP*HIHFKWJHNRPPHQ"³ Ä1HLQQLUJHQGV³ORJGHU6FKlIHU Ä*RWWVHL'DQN³7RGRUDWPHWHDXI %XUXQVXV VDJWH QLFKWV (U YHUVFKZDQG LQ GHU +|KOH PDFKWHVLFKHLQH :HLOH LP 'XQNHOQ ]X VFKDIIHQ XQG NDP PLWGHP)l‰FKHQDXIGHU6FKXOWHUZLHGHUKHUDXV Ä:LOOGLUHLQEL‰FKHQIULVFKHV:DVVHUEULQJHQ«³ 6HLQH 6FKULWWH YHUKDOOWHQ LQ GHU 6RPPHUQDFKW 1RFK DOV VLH YHUVWXPPW ZDUHQ UROOWHQ ZHLWHU NOHLQH 6WHLQFKHQ GHQ 3IDG KLQDE XQG UDVFKHOWHQ LP GUUHQ YRUMlKULJHQ /DXE 7RGRUZDUDQGLHVH*HUlXVFKHJHZ|KQWXQGGHVKDOEQDKP HUGHQ)DGHQVHLQHUYRUKHULJHQ*HGDQNHQZLHGHUDXI(LQH GXPSIH 9RUDKQXQJ KDWWH VLFK LQ VHLQHU %UXVW HLQJHQLVWHW XQG OLH‰ LKP NHLQH 5XKH (U ZXUGH GDV *HIKO QLFKW ORV GD‰ GHU )UHLVFKDU HWZDV 6FKOLPPHV ]XJHVWR‰HQ ZDU ,P PHU]XWUlXPWHHUYRQVFKZDU]HQ+XQGHQGLHGHQ6SXUHQ GHV+DGVFKLVIROJWHQ 'HU $EHQGZLQG VWULFK EHU GLH :LSIHO GHU %XFKHQ ,KU OHLFKWHV 5DXVFKHQ XQWHUEUDFK GLH *HGDQNHQ GHV MXQJHQ +HLGXFNHQ HU KRE GHQ .RSI XQG VFKDXWH LQV 7DO 'HU 0RQG KLQJ ZLH HLQH .XSIHUPQ]H EHU GHP QDKHQ .DPP:HUZHL‰ZLHVRHUVRURWZDUZLHQLHPDOVVRQVW (LQH ]HUIDVHUWH :RONH YHUVXFKWH LKQ HLQ]XKOOHQ DEHU HU HQWVFKOSIWH LKU LPPHU ZLHGHU 'RFK GDQQ KDWWH VLH LKQ HLQJHKROW (LQ U|WOLFKHU 6FKHLQ VFKLPPHUWH GXUFK VLH KLQGXUFK HU UDQQ HLQHQ VFKPDOHQ :RONHQUL‰ HQWODQJ DOV VLFNHUH %OXW KLQGXUFK $OOHV ZLHGHUKROWH VLFK LQ GLHVHP

/HEHQ«,QVRHLQHP5L‰DOOHUGLQJVLQGHU(UGHZDUGDV %OXW YRQ $OH[DQGHU :DVVLOHZ YHUVLFNHUW JOHLFK EHLP HUVWHQ *HIHFKW LQ GHQ :HLQEHUJHQ YRQ .DUDLVVHQ (U ZDU GDV HUVWH 2SIHU GHU )UHLVFKDU JHZHVHQ (LQ MXQJHU KE VFKHU %XUVFKH GHU MQJVWH YRQ DOOHQ 8QG GDV %OXW ZLH YLHOHUDQGHUHUKDWWHQGDQDFKGLHGXUVWLJHQ/LSSHQGHU(UGH JHVXFKW'HU0RQGZUGHZLHGHU]XP9RUVFKHLQNRPPHQ VLHDEHUNHKUWHQQLFKW]XUFN 'HU 6FKlIHU ZDU ]X K|UHQ (U PDFKWH NXU]H 6FKULWWH :LHGHU UROOWHQ 6WHLQFKHQ GXUFKV GUUH /DXE 'DV :DVVHU JOXFNHUWHGXPSILQGHP)l‰FKHQ Ä,FKKDEOlQJHUJHEUDXFKWLP'XQNHOQLVWGHU3IDGQLFKW ]XVHKHQ«8QGGLH:RONHKDWGHQ0RQGJDQ]]XJHGHFNW 'DV:HWWHUVFKOlJWXP«³ Ä(VVLHKWQDFK6WXUPDXV«³ Ä'DVKDWVFKRQ|IWHUJHWlXVFKW«³ 6LH VFKZLHJHQ 'LH 'XQNHOKHLW YHUEDUJ LKUH *HVLFKWHU LKUH*HGDQNHQ 6LHWUHQQWHQVLFKVSlW 

,P %XVFKZHUNYRUGHU+|KOHKDWWHVLFKGDV :LHVHO HLQ JHQLVWHW 0RUJHQV WDXFKWH HV NXU] DXI XQG YHUVFKZDQG GDQQIUGHQJDQ]HQ7DJ(UVWZHQQGLH6FKDWWHQDXVGHP GXQNOHQ 0DXO GHU +|KOH NURFKHQ XP GLH 6HQNH PLW 'lPPHUXQJ]XIOOHQHUVFKLHQHVZLHGHU $QIDQJVKDWWH7RGRU$QJVWJHKDEWYRUGLHVHP7LHU9RQ VHLQHP*UR‰YDWHUKDWWHHUXQZDKUVFKHLQOLFKH*HVFKLFKWHQ EHU GDV :HVHQ GHU :LHVHO JHK|UW (LQPDO KDWWH GHU $OWH DQJHEOLFK EHL GHU :DONPKOH HLQ 1HVW PLW -XQJHQ JHIXQ GHQ8PVLHQLFKWPLWGHP)XKUZHUN]XEHUIDKUHQQDKP

HUVLHXQGOHJWHVLHDP:HJUDQGXQWHUHLQHQ6WUDXFK1DFK HLQHU :HLOH VDK HU ZLH GLH 0XWWHU QDFK LKQHQ VXFKWH EHDFKWHWH VLH DEHU QLFKW ZHLWHU %HYRU HU VLFK DQ VHLQH $UEHLW PDFKWH KlQJWH HU GHQ 7RSI PLW GHP (VVHQ XQWHU HLQHQ'DFKYRUVSUXQJGDQQEHID‰WHHUVLFKPLWGHP7XFK $OV HU ]XP 9HUVFKQDXIHQ YRU GLH 7U WUDW ILHO VHLQ %OLFN DXIGHQ7RSI(UVFKZDQNWHREZRKOHVZLQGVWLOOZDU8QG KLQWHUGHU:DONPKOHYHUVFKZDQGHLQURWEUDXQHU6FKDWWHQ 'HU $OWH EHVFKOR‰ QDFK]XVHKHQ ZDV ORV ZDU =X VHLQHU JUR‰HQ hEHUUDVFKXQJ HUEOLFNWH HU HUQHXW GDV :LHVHO (V KRFNWH VSUXQJEHUHLW KLQWHU HLQHP %DXPVWXPSI ,Q VHLQHQ NDOWHQ $XJHQ JHZDKUWH HU +D‰ 'DV :LHVHO EHJDQQ LKQ DQ]XIDXFKHQXQG]XVSXFNHQDEHUGHU$OWHOLH‰VLFKQLFKW HUVFKUHFNHQ VRQGHUQ JLQJ ]X GHP 6WUDXFK XQWHU GHQ HV GLH-XQJHQJHOHJWKDWWH'DV:LHVHOOLHILKPQDFKXQGDOV HV VHLQH .LQGHU KHLO XQG XQYHUVHKUW VDK EHDFKWHWH HV LKQ QLFKW ZHLWHU (UVW DOV HU VLFK ]XP 0LWWDJHVVHQ KLQVHW]WH HUVFKLHQ HV ZLHGHU %HYRU HU GDV %URW DXV GHP %HXWHO KROWH KDNWH GHU $OWH GHQ 7RSI PLW GHP (VVHQ DE XQG GD JHVFKDK HWZDV 8QHUZDUWHWHV 'DV :LHVHO VFKR‰ KHUYRU VWLH‰GHQ7RSIXPXQGYHUVFKWWHWHGLH6XSSH'DEHJULII GHU $OWH GD‰ GDV :LHVHO KLQHLQJHVSXFNW KDWWH $XI GLHVH $UWJDEHV LKP ]X YHUVWHKHQ GD‰ HU QLFKW YRQ GHU YHUXQ UHLQLJWHQ6XSSHHVVHQVROOWH ,QZLHIHUQGLHVDOOHVZDKUZDUZX‰WH7RGRUQLFKWDEHUHU EHZDKUWH VHLW IUKHVWHU .LQGKHLW HLQHQ PLW )XUFKW JH PLVFKWHQ5HVSHNWYRUGHQJHVFKPHLGLJHQ7LHUFKHQ'LHVHV KLHUHUVFKLHQLPPHUY|OOLJJHUlXVFKORVYHUKDUUWHDXIGHP 3IDG ]XU +|KOH XQG VWDUUWH ODQJH LQ GLH GXQNOH gIIQXQJ 'HUURWEUDXQH.RSIVFKLPPHUWHKHUDXVIRUGHUQGGDVZHL‰H %lXFKOHLQ OHXFKWHWH GLH IOLQNHQ $XJHQ QDKPHQ DQVFKHL QHQGDOOHVDXI

$QIDQJV YHUZLUUWH GLHVHU SUIHQGH %OLFN GHQ MXQJHQ +HLGXFNHQ DOOPlKOLFK DEHU JHZ|KQWH HU VLFK GDUDQ LKP ]X EHJHJQHQ « ,Q GHQ HUVWHQ 7DJHQ IUFKWHWH VLFK DXFK GDV :LHVHO YRU LKP GRFK GDQQ EHDFKWHWH HV LKQ QLFKW PHKU (V OLHI JDQ] UXKLJ DQ LKP YRUEHL YHUVFKZDQG LP GXQNOHQ %DXFK GHU +|KOH XQG ZHQQ HV ZLHGHU ]XP 9RU VFKHLQ NDP IODWWHUWH HLQH KDOEWRWH )OHGHUPDXV LQ VHLQHU 6FKQDX]H'LH)OHGHUPlXVHKLHOWHQVLFKZDKUVFKHLQOLFKLQ GHQ 6SDOWHQ LUJHQGZR JDQ] KLQWHQ YHUERUJHQ 6LH IORJHQ DEHQGVDXVXQGNHKUWHQYRUGHP0RUJHQJUDXHQ]XUFN 6FKRQHLQHQ0RQDWOHEWHGHUMXQJH+HLGXFNVRPLWGHP :LHVHO]XVDPPHQ,QGLHVHU=HLWZXUGHHUVLFKWEDUNUlIWL JHU XQG GLH :XQGH YHUKHLOWH 7URW]GHP ]|JHUWH HU GHQ 6FKlIHU ]X YHUODVVHQ (U KRIIWH GHU +DGVFKL ZUGH LKQ DXIVXFKHQ« %XUXQVXVKDWWHLKPHU]lKOWHLQ.DXIPDQQDXV*DEURZR KlWWHLKQXQOlQJVWJHVHKHQXQGGHU%UXGHUOLH‰HLKPYLHOH *U‰H EHVWHOOHQ 'LHV ZDU GLH OHW]WH 1DFKULFKW JHZHVHQ XQG7RGRUZDUWHWHYROO8QJHGXOGGD‰GHU6FKlIHUZLHGHU NDP )U JHZ|KQOLFK IDQG VLFK %XUXQVXV VSlWDEHQGV HLQ (UVHW]WHVLFKLP'XQNHOQ]XLKPXQGVHLQH(U]lKOXQJHQ GUHKWHQVLFKXPGLH)UHLVFKDUGHV+DGVFKLV ,UJHQGZRKlWWHQ*HZHKUHJHNQDOOWXQGGHUXQGGHUKlWWH LKQ JHVHKHQ VR XQG VR VHKH HU DXV GLHV XQG GDV OLH‰H HU LKP DXVULFKWHQ 7RGRU ODXVFKWH PLW RIIHQHP 0XQG GLHVHQ JXWHQ 1DFKULFKWHQ GXUFK VHLQHQ MXQJHQ .|USHU VWU|PWH QHXH .UDIW XQG GXUFK VHLQ +HU] GLH +RIIQXQJ DXI HLQ EDOGLJHV:LHGHUVHKHQ 'LH 0lUFKHQ GHV 6FKlIHUV KDWWHQ GHQ $UJZRKQ OlQJVW HLQJHVFKOlIHUW GHU VLFK QDFK MHQHP DEHQGOLFKHQ 9RUIDOO PLW GHP %HLO LQ GHP -XQJHQ ]X UHJHQ EHJRQQHQ KDWWH 7RGRUEHJDQQVRJDUGHP:LHVHO]X]UQHQGDVVLFKQLFKW

PLW %XUXQVXV DQIUHXQGHQ NRQQWH 6RZLH HV LKQ HUEOLFNWH VWUlXEWH GDV 7LHUFKHQ GDV )HOO XQG VHLQH $XJHQ IOOWHQ VLFK PLW :XW 6HLW LKUHU HUVWHQ %HJHJQXQJ ODJHQ VLH PLW HLQDQGHU LP .ULHJ %XUXQVXV KDWWH YHUVXFKW HV PLW GHP %HLO ]X WUHIIHQ XQG VHLWGHP NRQQWHQ VLH HLQDQGHU QLFKW UXKLJDQVHKHQ 'LH %OlWWHU GHV %XFKHQJHEVFKHV ZHONWHQ NDXP PHUN OLFK 'LH NOHLQHQ ]LHJHOURWHQ )OHFNHQ IORVVHQ DOOPlKOLFK DXVHLQDQGHU XQG IUD‰HQ GLH JUQH )DUEH DXI 'LH $EHQGH ZXUGHQ NlOWHU GLH 'XQNHOKHLW VFKLHQ GLFKW XQG JHVlWWLJW ZLH GLH )DUEH YRQ 3OXGHUKRVHQ GLH PLW GHQ %OlWWHUQ GHV *HUEULQGHQEDXPV JHIlUEW ZRUGHQ VLQG :HQQ GHU .U\ VWRZWDJNDPGHUVLHEHQXQG]ZDQ]LJVWH6HSWHPEHUDQGHP GLH +HLGXFNHQVFKDUHQ DXIJHO|VW ZHUGHQ VROOWHQ PX‰WH %XUXQVXV HLQ IU DOOHPDO YRQ 7RGRU $EVFKLHG QHKPHQ 'DQQNRQQWHHULKQQLFKWPHKUOlQJHUDQGHU1DVHKHUXP IKUHQ(UPX‰WHGHQ-XQJHQ]LHKHQODVVHQ8QGHUZUGH HV WXQ ZHQQ GDV *HOG QLFKW ZlUH 'HU *HGDQNH DQ GDV *HOGOLH‰GHP6FKlIHUNHLQH5XKH7RGRUVROOWHGDYRQJH KHQXQGHVPLWQHKPHQ"1HLQGDVZUGHHUQLFKW]XODVVHQ PRFKWHJHVFKHKHQZDVZROOWH $EHUZHQQGHU+DGVFKLQRFKDP/HEHQZDU"1DFKGHP *HUFKW YRQ VHLQHP 7RG ZDU HLQ DQGHUHV DXIJHNRPPHQ GD‰ HU OHEWH XQG GXUFKV *HELUJH VWUHLIWH 'LHVHV *HUFKW KLHOW GHQ 6FKlIHU ]XUFN VRQVW KlWWH HU OlQJVW YROOEUDFKW ZDV HU VLFK YRUJHQRPPHQ KDWWH (V lUJHUWH LKQ GD‰ HU GDPDOV QLFKW ELV 7LUQRZR JHJDQJHQ ZDU XP VLFK PLW HLJHQHQ$XJHQYRQGHP]XEHU]HXJHQZDVGLH/HXWHDXV 'UMDQRZR HU]lKOW KDWWHQ DEHU ZLH KLH‰ GRFK GDV 6SULFK ZRUW'HU9HUVWDQGLVWNXU]GDV-DKULVWODQJ6ROOPDQLKQ VLFKIUGHQ6RPPHURGHUIUGHQ:LQWHUDXIKHEHQ" (U KDWWH VLFK YRUJHQRPPHQ QLFKWV ]X EHUVWU]HQ DEHU

GLH=HLWGUlQJWH'LHVHYHUIlUEWHQ%OlWWHUEHXQUXKLJWHQLKQ HUQVWKDIW (QWZHGHU PX‰WH HU YRQ VHLQHQ 7UlXPHQ $E VFKLHGQHKPHQRGHUGHQ-XQJHQ« 8QG HU EHVFKOR‰ QLFKW OlQJHU ]X ]DXGHUQ 7URW]GHP EOLHE HU DQ GLHVHP $EHQG ZLHGHU ODQJH EHL GHQ 6FKDIHQ (U GUFNWH VLFK LP 3IHUFK KHUXP XQG EHVFKlIWLJWH VLFK QRFKHLQPDOPLWGHQ+XQGHQHKHHUVLFKHQGOLFKDXIGHQ :HJ]XU+|KOHPDFKWH 7RGRU ZDUWHWH VFKRQ DXI LKQ XQG NDP PLW VHLQHU )UDJH GHP*UX‰]XYRU Ä,VWHWZDV«"³ Ä-DDD³DQWZRUWHWHGHU6FKlIHUJHGHKQWÄMDDD«³ Ä:DV"³ Ä(UKDW1DFKULFKWJHVFKLFNWGD‰LFKGLFKKLQDXIEULQJHQ VROO«³ Ä:RKLQ"³ Ä+LQDXI « DXI GHQ .DPP « $P 0RUJHQ ZROOHQ VLH YRQGRUWQDFK6HUELHQKLQEHU«,FKVROOGLFKKLQEULQJHQ «³ Ä$OVRGDQQ«JHKHQZLU³ Ä(VKDWQRFK=HLW³VDJWHGHU6FKlIHUÄ,‰GLFK HUVWVDWW XQG GDQQ « 'D LFK KDE GLU DXFK %URW IU GHQ :HJ JH EUDFKWXQG.lVH«+LHU«³ 7RGRU QDKP %URW XQG .lVH HQWJHJHQ (U EUHLWHWH GDV 7XFK DXV XQG EHJDQQ ]X HVVHQ 'LH 'XQNHOKHLW KDWWH GDV )HOVORFK YHUVWRSIW DEHU HU ZDU GDUDQ JHZ|KQW (U NDXWH GDV KDUWH %URW VHLQH *HGDQNHQ HLOWHQ DEHU VFKRQ YRUDXV EHU GLH *HELUJVSIDGH VLH NOHWWHUWHQ EHU 6WHLOKlQJH VLH OLHIHQ XP ]X VHLQHP %UXGHU ]X JHODQJHQ GHU GLH 1DFK ULFKWJHVFKLFNWKDWWHGHULUJHQGZRDXILKQZDUWHWHXQGGHQ HUEHLP7DXGHV0RUJHQVLQGLH$UPHVFKOLH‰HQZUGH 'LPLWHU KDWWH VLFKHUOLFK DXFK GLH 0XWWHU EHVXFKW ²

ZHQQ HU LQ 6OLZHQ JHZHVHQ ZDU PX‰WH HU DQ LKUH 7U JHNORSIWXQGGLHDOWH)UDXEHUXKLJWKDEHQGLHLKQGDPDOV PLWHLQHP6SOLWWHUYRP.UHX]HGHV+HUUQ DOV*OFNVEULQ JHUKDWWH]LHKHQODVVHQ6LHZDUZHL‰JHZRUGHQYRU$QJVW XQG 6RUJHQ LQ GHU (LQVDPNHLW VFKORKZHL‰ JHZRUGHQ GLH (LQVDPNHLWKDWWHVLHDXIJH]HKUW« 9RP+|KOHQHLQJDQJKHUZDU*HW|VH]XK|UHQ'HU-XQJH KREGHQ.RSI Ä+H%DL3HWNRVFKRQZLHGHU.ULHJ"³ Ä-D « 'LHVHV :LHVHO EULQJW PLFK XP GHQ 9HUVWDQG « 8PHLQ+DDUKlWWHLFKåVPLWGHP%HLOHUZLVFKW³ Ä/D‰GDV7LHUFKHQLQ)ULHGHQ«³

Ä-D 7RGRU PDFK LFK KHXWH DEHQG XQG LPPHU³ %XUXQ VXVå 6WLPPH NODQJ KHLVHU XQG HUVWLFNW DEHU 7RGRU K|UWH LKP QLFKW PHKU ]X 6HLQH *HGDQNHQ NHKUWHQ HLOLJ GRUWKLQ ]XUFN ]X GHU DOWHQ )UDX GLH GLH (LQVDPNHLW DXIJH]HKUW

KDWWHZLHHLQH:DFKVNHU]H(UWUXJLKUJHJHQEHUDXFKHLQ ZHQLJ6FKXOG(UZDUGHUMQJVWHGHU%UGHUVWDWWVLFKXP VLH]XNPPHUQXQGIUVLH]XVRUJHQZDUHUORVJH]RJHQ « (LQ IXUFKWEDUHU 6FKODJ ZDUI LKQ SO|W]OLFK YRUQEHU GLH 6FKZlU]HGHU1DFKWGUDQJLQLKQHLQ'DVUXQGH%URWGDV LQVHLQHP6FKR‰JHOHJHQKDWWHUROOWHGHQ3IDGKLQDEDEHU HUVDKHVQLFKWPHKU 'LH $XJHQ GHV :LHVHOV IXQNHOWHQ GDV EOXWLJH %HLO GHV 6FKlIHUVDQ