357DVFKHQEXFK$XIODJH'H] 3HUU\5KRGDQ±:HJLQGLH8QHQGOLFKNHLW :HJLQGLH8QHQGOLFKNHLW 9RQ...
11 downloads
462 Views
339KB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
357DVFKHQEXFK$XIODJH'H] 3HUU\5KRGDQ±:HJLQGLH8QHQGOLFKNHLW :HJLQGLH8QHQGOLFKNHLW 9RQ0HQVFKHQXQG0XWDQWHQ±6HFKV6)6WRULHVDXVGHP-DKUKXQGHUWYRQ $51'7(//0(5 'HUYRUOLHJHQGH%DQGHQWKlOWVHFKV6WRU\VDXVGHP-DKUKXQGHUW±DXVGHU=HLWDOVR GDGLH7HUUDQHULP.RVPRVXQGDXIGHP0XWWHUSODQHWHQGHQELVKHUVFKZHUVWHQ 3UIXQJHQLKUHUQHXHUHQ*HVFKLFKWHXQWHUZRUIHQZHUGHQ 'LH6WRU\VEHULFKWHQYRQ0HQVFKHQ)UHPGHQXQG0XWDQWHQ6LHVSLHOHQLP$OOXQGDXI IHUQHQ3ODQHWHQXQG]HLFKQHQ'LQJHDXIGLHDOV0HLOHQVWHLQHDQJHVHKQHQZHUGHQ N|QQHQ±DOV0HLOHQVWHLQHDXIGHP:(*,1',(81(1'/,&+.(,7« 3(55<5+2'$17DVFKHQEXFKHUVFKHLQWPRQDWOLFK LP0RHZLJ9HUODJ$XJXVWHQVWUDH0QFKHQ &RS\ULJKW& E\0RHZLJ9HUODJ 5HGDOWLRQ *06FKHOZaRNHW 9HUWULHE(ULFK3DEHO9HUODJ.* *HVDPWKHUVWHOOXQJ &ODXVHQ %RVVH/HFN 9HUNDXIVSUHLVLQN XLYHJHVHW]OLFKH0HKUZHUWVWHXHU 8QVHUH5RPDQVHULHQGUIHQLQ/HLKEFKHUHLHQQLFKWYHUOLHKHQ XQGQLFKW]XPJHZHUEVPlLJHQ8PWDXVFKYHUZHQGHWZHUGHQ GHU:LHGHUYHUNDXILVWYHUERWHQ $OOHLQYHUWULHEXQG$XVOLHIHUXQJLQ2VWHUUHLFK 3UHVVHJURYHUWULHE6DO]EXUJ1LHGHUDOP $$QLI $ERQQHPHQWVXQG(LQ]HOEHVWHOOXQJHQDQ 3$%(/9(5/$*.*3RVWIDFK5$67$77 7HOHIRQ 3ULQWHGLQ*HUPDQ\ 'H]HPEHU
,1+$/7 ,P5HLFKGHU.DLVHULQ 'LH+HLPNHKUHU :HJLQGLH8QHQGOLFKNHLW 'HU+REE\%DVDU 'LH5FNNHKUGHV=DXEHUHUV (ULQQHUXQJHQDQGLH(UGH
6HLWH 6HLWH 6HLWH 6HLWH 6HLWH 6HLWH
$51'7(//0(5
:(*,1',( 81(1'/,&+.(,7 ,P5HLFKGHU.DLVHULQ
'DV-DKUJLQJ]XU1HLJH9RUHLQHUNQDSSHQ6WXQGHKDWWHGDV6FKLIIVHLQH8PODXIEDKQ XP%OXWJUl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|UPOLFK GDQDFK :DV ZDU PLW GHP +HLPDWSODQHWHQ GHU 0HQVFKKHLW JHVFKHKHQ" .RQQWH GLH 62/ UHWWHQG HLQJUHLIHQ RGHU NDP VLH ]X VSlW" :DU GLH (UGH XQZL GHUUXIOLFKLQNRVPLVFKHQ:HLWHQYHUORUHQ" $WODQVWDUUWHXQYHUZDQGWDXIGLH%LOGVFKLUPHGHU=HQWUDOH6LH]HLJWHQIUHPGH6WHUQHGLHNHLQ 0HQVFK MH ]XYRU JHVHKHQ KDWWH +LQWHU LKQHQ ODJ GDV 5HLFK GHU )H\HUGDOHU MHQHU PHUNZUGLJHQ 8QWHUWDQHQ GHU .DLVHULQ GLH PLW LKUHU )HLQVSUHFKHUHL HLQHQ ]LYLOLVDWRULVFKHQ $XVZXFKVEHVDHQEHLGHPPDQQLFKWZXWHREPDQGDUEHUODFKHQRGHUZHLQHQVROOWH'LH :LVVHQVFKDIWOHU KDWWHQ KHUDXVJHIXQGHQ GD EHL GHQ (LQOHLWXQJV XQG 6FKOXVlW]HQ GHU .RPPXQLNDWLRQ LP %HUKUXQJVNUHLV )ORVNHOQ XQG 5HGHZHQGXQJHQ JHEUDXFKW ZXUGHQ GLH HLQH EHVWLPPWH 9RNDOIROJH EHLQKDOWHWHQ GLH VLFK QLH lQGHUWH 6LH NRQQWH LP ELQlUHQ =DKOHQV\VWHP GDUJHVWHOOW ZHUGHQ XQG PRFKWH GLH %HGHXWXQJ HLQHV 6FKOVVHOV IU GLH .RPPXQLNDWLRQPLWGHU.DLVHULQVHLQ (VJLEWNHLQHQ%HZHLVGDIUGDGLH(UGHYHUORUHQLVWPHOGHWHVLFKGDV([WUDKLUQGHV $UNRQLGHQGHUVLFKJHGDQNOLFKPLWGHP0HGDLOORQV\VWHPXQGGHU$SKLKHEHVFKlIWLJWH $XHUGHPZDUXPVROOWHGDV9HUVSUHFKHQGHU6XSHULQWHOOLJHQ]DQJH]ZHLIHOWZHUGHQGDVLH XQVGLH3RVLWLRQGHU(UGHPLWWHLOW'LHVH%HUHLWVFKDIWLVWHLQ=HLFKHQGDIUGDGLH(UGHQLFKW
YHUORUHQLVW 'HU$UNRQLGHZDQGWHVHLQH$XJHQODQJVDPYRQGHQ%LOGVFKLUPHQDE(UVDKKLQEHU]X 3HUU\5KRGDQGHULQ8QWHUKDOWXQJPLW*XFN\EHJULIIHQZDU'HU0DXVELEHUVWDQGLQVHLQHU YROOHQ*U|HGDGHQ.|USHUDXIGHQEXVFKLJHQ6FKZDQ]JHVWW]W6HLQ1DJH]DKQEOLQNWHLP KHOOHQ/LFKWGHU=HQWUDOH,QGLHVHP$XJHQEOLFNOHXFKWHWHHLQ5XIOLFKWDQGHU9LGHRNRQVROH YRU$WODQDXI'HU$UNRQLGHEHWlWLJWHGLH(PSIDQJVWDVWH :DVJLEWHV"IUDJWHHU 2UWXQJV]HQWUDOHKLHUPHOGHWHVLFKHLQH6WLPPH:LUHPSIDQJHQVRHEHQHLQ)XQNVLJQDO (VZLHGHUKROWVLFKUK\WKPLVFKXQGWULIIWLQHLQHP:LQNHOYRQIQIXQGQHXQ]LJ*UDG]X XQVHUHU)OXJULFKWXQJDXI hEHUPLWWHOQ6LHGDV6LJQDO6(1(&$]XU$XVZHUWXQJRUGQHWH$WODQDQ$OOH$XJHQ ULFKWHWHQVLFKDXIGLH/DXWVSUHFKHU $XVZHUWXQJEHHQGHWHUNODQJLQGLHVHP$XJHQEOLFNGLH6WLPPHGHU,QSRWURQLN'DV 6LJQDONRPPWDXVHLQHP6RQQHQV\VWHPGDVVLFKVHLWOLFK]XU)OXJULFKWXQJLQHLQHU(QWIHUQXQJ YRQDFKWHLQKDOE/LFKWMDKUHQEHILQGHW'HU6LQQGHV6LJQDOVLVWXQEHNDQQW'DXHUMHZHLOVHLQH +XQGHUWVWHOVHNXQGH1DFKHLQHUKDOEHQ0LQXWHK|UWHGLH6HQGXQJDXI 'DQNHVDJWH$WODQ(UZDQGWHVLFK]X3HUU\GHUQHEHQLKQWUDW:DVPHLQVWGX"IUDJWH HUGHQ.RPPDQGDQWHQGHU62/2EHVHLQ6LJQDOYRQ%HGHXWXQJLVW" (VZlUHP|JOLFKEHUOHJWH5KRGDQ'D6(1(&$HVQLFKWHQWVFKOVVHOQNDQQN|QQWH HVPLW%$5',2&RGHUVHLQHQ+HOIHUQ]XWXQKDEHQ 'XKDVWY|OOLJUHFKW3HUU\SLHSVWH*XFN\,QHLQHU.XU]WHOHSRUWDWLRQYRQ]HKQ0HWHUQ HUVFKLHQHU]ZLVFKHQGHQEHLGHQ0lQQHUQXQGVDKVLHKHUDXVIRUGHUQGYRQXQWHQKHUDXIDQ :HQQ%$5',2&PLWGHP6LJQDO]XWXQKDWPVVHQZLUXQVGDUXPNPPHUQ9LHOOHLFKW EHVWHKWHLQ=XVDPPHQKDQJPLWGHP02'8/ 'XPHLQVWZLUVROOHQGHU6DFKHQDFKJHKHQ"IUDJWH5KRGDQ $XIMHGHQ)DOOQLFNWHGHU0DXVELEHUHUQVW$XFK$WODQVWLPPWH]X (VYHU]|JHUW]ZDUXQVHUHQ)OXJXQGGDV$XIILQGHQGHV02'8/LVWHLOLJDEHUZLU HUKDOWHQYLHOOHLFKWHLQHQZLFKWLJHQ+LQZHLVHQWGHFNHQHLQHQ6WW]SXQNW%$5',2&6RGHU VRVDJWHGHU$UNRQLGH *XWZLUIOLHJHQGDV6\VWHPDQVDJWH5KRGDQ]X0HQWUR.RVXP'HU(PRWLRQDXWQLFNWH OHLFKWXQWHUVHLQHU+DXEHGDQQEHJDQQHUGHQ.XUVGHV6FKLIIHV]XlQGHUQ'LH62/JLQJLQ HLQHNXU]H/LQHDUHWDSSH8QPLWWHOEDUYRUGHPYHUGlFKWLJHQ6\VWHPNDPVLHLQGHQ(LQVWHLQ 5DXP]XUFN 6RQQHYRP:HJD7\S PHOGHWHGLH2UWXQJ6LHEHQ3ODQHWHQGHUYLHUWHVFKHLQW EHZRKQW$OOHDQGHUHQVLQGHQHUJHWLVFKWRW :LUZHUGHQXQVKHLPOLFKKHUDQSLUVFKHQ'LH62/ZLUGLQGHQ6FKXW]GHU6RQQHJHKHQ $WODQZLUGPLWHLQHU.RUYHWWHODQGHQXQGVLFKXPVHKHQHQWVFKLHG5KRGDQ'DQQEHVWLPPWH HUGLH7HLOQHKPHUGHV(UNXQGXQJVIOXJV 'LH .RUYHWWH YHUOLH GDV 0XWWHUVFKLII XQG IORJ PLW PlLJHQ :HUWHQ GHP YLHUWHQ 3ODQHWHQ HQWJHJHQ 'LH (QHUJLHDXVZHUWXQJ HUJDE GD VLFK DXI VHLQHU 2EHUIOlFKH WDWVlFKOLFK HLQH =LYLOLVDWLRQ EHIDQG 2SWLVFK ZXUGH QLFKWV IHVWJHVWHOOW 'HU 3ODQHW ODJ XQWHU HLQHU GLFKWHQ :RONHQGHFNHYHUERUJHQ2KQHJHRUWHW]XZHUGHQJLQJGLH.RUYHWWHLQHLQH8PODXIEDKQXQG VHW]WH]XU/DQGXQJDQ$OVVLHGLH:RONHQVFKLFKWGXUFKVWRHQKDWWHPDQ|YULHUWH$WODQVLHLQ HLQH XQ]XJlQJOLFKH 5HJLRQ (U YHUOLH VLFK GDEHL DXI GLH (VSHUIlKLJNHLW *XFN\V XQG GLH $Q]HLJHQ VHLQHU *HUlWH 6FKOLHOLFK VHW]WH GDV %RRW LQPLWWHQ HLQHU 6WHLQZVWH ]ZLVFKHQ KRKHQ )HOVHQ DXI 6lPWOLFKH 6\VWHPH ZXUGHQ DEJHVFKDOWHW XP HLQH IUK]HLWLJH (QWGHFNXQJ ]XYHUKLQGHUQ .HLQH*HGDQNHQLPSXOVHPHOGHWHGHU0DXVELEHU :LUWHOHSRUWLHUHQHUVWHLQPDOLQ]LYLOLVLHUWHUH*HJHQGHQXQGVXFKHQQDFK,QIRUPDWLRQHQ VDJWH$WODQ*XFN\QDKPXQYHU]JOLFKGLH$UEHLWDXI,QGUHL$UEHLWVJlQJHQEUDFKWHHUGLH VHFKV0DQQGHV.RPPDQGRVZHJ1DFKGUHL6SUQJHQGLHVLHHWZDXPGLHKDOEH
3ODQHWHQREHUIOlFKHEUDFKWHQJDEHVGLHHUVWHQ9HUZLUUXQJHQ7UHN3ROOLPHUKDWWHVHLQH:DIIH YHUORUHQ/HYL6RODQHU6FKPLGWKDWWHVLFKEHLP$XIVHW]HQQDFKGHPOHW]WHQ6SUXQJGHQ .Q|FKHOYHUVWDXFKWXQG3HP7RIIQHUNODJWHEHUhEHONHLW 6LH ZDUHQ LQ HLQHP IHXFKWHQ :DOG PLW ZHLFKHP %RGHQ KHUDXVJHNRPPHQ XQG $WODQ HQWVFKOR VLFK HLQH 6WUHFNH ZHLW ]X PDUVFKLHUHQ ,P *lQVHPDUVFK JLQJHQ VLH HLQHQ 3IDG HQWODQJGHUDQ]HLJWHGDVLHVLFKLQGHU1lKHGHU=LYLOLVDWLRQEHIDQGHQ1DFKHLQHUKDOEHQ 6WXQGHEOLHE*XFN\SO|W]OLFKVWHKHQ *HGDQNHQLPSXOVHQlKHUQVLFKIOVWHUWHHU$WODQZROOWH$QRUGQXQJJHEHQHLQ9HUVWHFN DXI]XVXFKHQ DEHU HV ZDU ]X VSlW :HLW YRU LKQHQ ZXUGH ]ZLVFKHQ GHQ %lXPHQ HLQH *HVWDOW VLFKWEDU$WODQVWLHHLQHQXQWHUGUFNWHQ5XIDXV 'DVLVWHLQ)H\HUGDOHUVDJWHHU 'HU)H\HUGDOHUNDPLQ*HGDQNHQYHUVXQNHQGHQ3IDGHQWODQJXQGZlUHJDUDQWLHUWPLWGHP ,OW ]XVDPPHQJHVWRHQ ZHQQ GLHVHU VLFK QLFKW JHUlXVSHUW KlWWH (UVFKURFNHQ EOLHE HU VWHKHQ XQGVWDUUWHDXIGDV3HO]ZHVHQ'DQQDEHUILHOVHLQ%OLFNDXIGLHEULJHQ*HVWDOWHQ 7HUUDQHUGXUFK]XFNWHHVLKQ(UNDQQWHVLHYRQGHQ%LOGEHUWUDJXQJHQKHU $WODQ WUDW DXI LKQ ]X (U PD GLH *HVWDOW YRQ REHQ ELV XQWHQ 6LH ZDU LQ NQDOOLJ EXQWH *HZlQGHU JHKOOW GLH LKUHQ 7UlJHU HLQZDQGIUHLDOV )HLQVSUHFKHU DXVZLHVHQ 'HU )H\HUGDOHU EOHFNWHVHLQH=lKQH'LH(FN]lKQHZDUHQYRQEHDFKWOLFKHU*U|H (V LVW XQV HLQH JURH (KUH ZHQQ GHU JQlGLJH )HLQVSUHFKHU XQV ]XK|UW SOlUUWH $WODQV 7UDQVODWRU'HU)H\HUGDOHUEOLHEVWXPPHLQ=HLFKHQGHU%HMDKXQJ :LU KDEHQ ]XQlFKVW HLQH )UDJH VSUDFK $WODQ ZHLWHU :LU 7HUUDQHU KDEHQ VFKRQ PHKUHUH :HOWHQ GHU )H\HUGDOHU EHVXFKW :LU ZDUHQ DXI 3U|KQGRPH 0RHFNG|KQH XQG %ORWJUlKQH:LUELWWHQGLH(UKDEHQKHLWXQVGHQ1DPHQGLHVHU:HOW]XQHQQHQ 'HU )HLQVSUHFKHU YHU]RJ GHQ 0XQG ELV ]X GHQ 2KUHQ XQG NQGHWH GDPLW VHLQH %HUHLWZLOOLJNHLW DQ 'DEHL HQWILHO HLQ =DKQ GHU REHUHQ 5HLKH VHLQHP 0XQG XQG ODQGHWH LP *UDV*OHLFK]HLWLJEHJDQQHQ$NLPXQG/HNLP/HNGLH=ZLOOLQJH]XIOXFKHQXQGIDWHQVLFK XQWHUGLH+HPGHQLKUHU(LQVDW]DQ]JHGLHVLHRIIHQWUXJHQ6LH]RJHQ]ZHLVSLQQHQlKQOLFKH 7LHUH KHUYRU GLH VLFK VFKOHXQLJVW DXV GHP 6WDXE PDFKWHQ 'HQ )H\HUGDHU VFKLHQ GDV DOOHV QLFKW]XEHHLQGUXFNHQ ,KUEHILQGHWHXFKMHW]WDXI3HFKVWUlKQHYHUNQGHWHHU $WODQ]XFNWHZLHXQWHUHLQHPHOHNWULVFKHQ6FKODJ]XVDPPHQ0LWHLQHPPDOHUVFKLHQHQLKP GLH(UHLJQLVVHGHUOHW]WHQ9LHUWHOVWXQGHLQHLQHPJDQ]DQGHUH/LFKWXQGHUVHKQWHVLFKQDFK +DXVH]XUFNDQ%RUGGHU62/ *XFN\NLFKHUWH'HU)HLQVSUHFKHUEHWUDFKWHWHGDV6FKZHLJHQGHU0HQVFKHQDOVJOFNOLFKHV =HLFKHQVHOEVWZHLWHUVSUHFKHQ]XGUIHQ 0HLQ 1DPH LVW *OXSVFK$XJRQ IXKU HU IRUW ,FK ELQ GHU ]ZHLWH )HLQVSUHFKHU YRQ 3HFKVWUlKQHXQGKHLHHXFKDXIPHLQHU+HLPDWZHOWZLOONRPPHQ :LU GDQNHQ(XUHU(UKDEHQKHLWIUGLHIUHXQGOLFKHQ :RUWH GHU %HJUXQJ :LU VLQG DXI GLHVHU:HOWJHODQGHWXPLKUH%HZRKQHUXQGGHUHQ.XOWXUNHQQHQ]XOHUQHQ :LUVLQGHUIUHXWEHUHXUHQ%HVXFK'DUILFKHXFKELWWHQPLFK]XPHLQHP)DKU]HXJ]X EHJOHLWHQ"'HUREHUVWH)HLQVSUHFKHU*QWKUDQHZLUGJHUQHXUH%HNDQQWVFKDIWPDFKHQ 'LH 7HUUDQHU HUNOlUWHQ VLFK HLQYHUVWDQGHQ 6LH IROJWHQ *OXSVFK$XJRQ $WODQ HUKLHOW KHLPOLFKHLQ=HLFKHQGHV0DXVELEHUVXQGVFKDOWHWHGHQ7UDQVODWRUDE *OXSVFK$XJRQ ZHL JHQDX %HVFKHLG ZHOFKH 0LVVLRQ ZLU KDEHQ 8QJHDFKWHW GHV $XIWUDJV GDV 02'8/ ]X EHUJHQ ZROOHQ GLH )H\HUGDOHU KLHU YHUVXFKHQ XQV YRQ XQVHUHU ZHLWHUHQ7lWLJNHLWIUGLH.DLVHULQDE]XKDOWHQHUNOlUWH*XFN\LKP'HU)HLQVSUHFKHUZHL DOOHUGLQJVQLFKWZLHVHLQ&KHIGDVEHZHUNVWHOOLJHQZLOO :LU JHKHQ YRUOlXILJ GDUDXI HLQ 1DFKGHP KLHU )H\HUGDOHU ZRKQHQ JLEW HV YHUPXWOLFK HLQHQ %HUKUXQJVNUHLV PLW GHP GDV JHKHLPQLVYROOH )XQNVLJQDO ]XVDPPHQKlQJHQ N|QQWH :LUPVVHQHVKHUDXVILQGHQDQWZRUWHWH$WODQOHLVH Ä9LHOOHLFKWVLQG%$5',2&V6FKHUJHQKHLPOLFKHLQJHGUXQJHQYHUPXWHWH7UHN3ROLPHU
6LH KDWWHQ LQ]ZLVFKHQ HLQH /LFKWXQJ HUUHLFKW DXI GHU GHU EODXH *OHLWHU GHV )H\HUGDOHUV VWDQG *OXSVFK$XJRQ EDW GLH *lVWH HLQ]XVWHLJHQ 'HU )OXJ ZXUGH DEHQWHXHUOLFK 1RFK ZlKUHQGGLH0DVFKLQHVHQNUHFKWQDFKREHQVFKZHEWHILHODXVUHLQHU%RVKHLWHLQ%DXPXP JHQDXDXIGLH/LFKWXQJ'DEHLZXUGHGLH$XHQYHUNOHLGXQJGHV*OHLWHUVHUKHEOLFKEHVFKlGLJW 'DV )DKU]HXJ VWLHJ DXI XQG IORJ GDYRQ (V VFKZHEWH EHU HLQHU YHJHWDWLRQVUHLFKHQ /DQGVFKDIW,QGHU)HUQHVWLHJHQ'DPSIZRONHQDXI :DVLVWGDV"IUDJWH3HP7RIIQHU 'DVVLQG%RGHQQHEHOHUNOlUWHGHU)HLQVSUHFKHU0DQPXWHQLFKW*XFN\VHLQXP]X PHUNHQGDHUGLH8QZDKUKHLWVDJWH'RFKZDQGHUWHQVHLQH*HGDQNHQVRJOHLFKZHLWHU1LFKW HLQPDOGHU0DXVELEHUYHUPRFKWH]XHUJUQGHQZDVGHU'DPSIZLUNOLFKGDUVWHOOWH -HW]W VDKHQ VLH GLH HUVWHQ *HElXGH YRU VLFK DXIVWHLJHQ 0DKQPDOH VHOWVDPHU DUFKLWHNWRQLVFKHU 9RUVWHOOXQJHQ ,Q GLHVHP $XJHQEOLFN EUDFK HV ZLH HLQH ]lKH VFKZDU]H 0DVVH EHU VLH KHUHLQ 'LH )XVlXOH GHV 3LORWHQVHVVHOV NQLFNWH HLQ GHU 6HVVHO VWU]WH QDFK KLQWHQ 'HU )H\HUGDOHU KLHOW VLFK YHU]ZHLIHOW DP 6WHXHUNQSSHO IHVW XQG UL LKQ ]XUFN 'HU *OHLWHU VFKLHQ NXU] VWLOO]XVWHKHQ GDQQ MDJWH HU PLW DXIKHXOHQGHQ 7ULHEZHUNHQ GDYRQ 'LH )DKUJlVWHZXUGHQWLHILQLKUH6LW]HJHSUHW'LFKWXQWHULKQHQUDVWHGLH3LVWHGHV5DXPKDIHQV YRUEHL'HU*OHLWHUJHULHWLQGHQ6RJHLQHVVWDUWHQGHQ6FKLIIHVXQGZXUGHGXUFKJHVFKWWHOW ,Q]ZLVFKHQ KDWWH VLFK *OXSVFK$XJRQ DXIJHUDIIW (U NQLHWH YRU GHP 6WHXHUSXOW XQG KDQWLHUWH DQ GHQ .RQWUROOHQ 9RQ UHFKWV HUW|QWH HLQ HLQGULQJOLFKHV .QLUVFKHQ GDV DEUXSW DEEUDFK 'HU *OHLWHU KDWWH HLQHQ VHLQHU 6WXPPHOIOJHO YHUORUHQ XQG QlKHUWH VLFK ]LHPOLFK HLQVHLWLJGHP/DQGHSODW] $OVHVGDQQJHVFKDIIWZDUXQGGDV)DKU]HXJVWLOOVWDQGLQWHUHVVLHUWHHVNHLQHQPHKUGDGHU *OHLWHUEHLGHU/DQGXQJDXFKQRFKHLQ+\GUDXOLNEHLQYHUORUHQKDWWH *OXSVFK$XJRQ NRPSOLPHQWLHUWH GLH KRKHQ *lVWH DXV GHU 0DVFKLQH DOV NHKUWHQ VLH YRQ HLQHPJHPWOLFKHQ5XQGIOXJ]XUFN 9RP5DQGGHV5DXPKDIHQVKHUVDXVWHHLQRIIHQHU:DJHQ'LFKWYRUGHU*UXSSHKLHOWHU DQ=ZHLPUULVFKGUHLQEOLFNHQGHXQLIRUPLHUWH)H\HUGDOHUHQWVWLHJHQLKP :LUEHJUHQHXFKLQ0LJUlQHGHU+DXSWVWDGWGHV3ODQHWHQUXPSHOWH$WODQV7UDQVODWRU 'HUREHUVWH)HLQVSUHFKHUHUZDUWHWHXFK 9RQ]Z|OI0DQQHVNRUWLHUWVWDQGHQVLHHLQH9LHUWHOVWXQGHVSlWHUYRU*QWKUDQH'HUREHUVWH )HLQVSUHFKHUZDFNHOWHPGHPLWGHP.RSI 'D VHLG LKU MD PHLQWH HU EHLOlXILJ (V EOHLEW PLU QLFKWV DQGHUHV EULJ DOV HXFK HLQ]XVSHUUHQ ELV LKU GHP 9RON GHU )H\HUGDOHU YHUVSURFKHQ KDEW VHLQH :HOWHQ DE VRIRUW ]X PHLGHQ 'DV9HUVSUHFKHQN|QQHQZLUQLFKWJHEHQZLUVLQGQLFKWNRPSHWHQWHUZLGHUWH$WODQXQG VFKWWHOWHVHLQZHLHV+DDU 'DQQEHKDOWHQZLUHXFKDOV*HLVHOQELVZLUGDV9HUVSUHFKHQKDEHQ :LUVLQGLQZLFKWLJHP$XIWUDJIUGLH.DLVHULQXQWHUZHJVEHWRQWHGHU$UNRQLGH:HQQ LKUXQVDXIKDOWHWVWHOOWLKUHXFKJHJHQGLH.DLVHULQ :LUGLHQHQGHU.DLVHULQZLUDOOHLQHUKLHOWHU]XU$QWZRUW 'HUREHUVWH)HLQVSUHFKHUEHIDKOGHU(VNRUWHGLH*lVWHHLQ]XNHUNHUQ0DQIKUWHVLHLQHLQ *HElXGH LQ GHU 1lKH XQG VWHFNWH VLH LQ HLQ PLW EHTXHPHQ 6HVVHOQ DXVJHVWDWWHWHV JURHV =LPPHU'LH*UXSSHEHULHWVLFK6LHEHVFKORVVHQHUVWHLQPDOJXWH0LHQH]XPE|VHQ6SLHO]X PDFKHQ 0DQZLUGLQ]ZLVFKHQQDFKGHP)DKU]HXJVXFKHQGDVXQVDXI3HFKVWUlKQHDEJHVHW]WKDW YHUPXWHWH$WODQ6LHZHUGHQODQJVXFKHQPVVHQ 7UHN3ROOPHUODFKWH:HQQGLHZWHQGDVLHXQVJDUQLFKWKDOWHQN|QQHQ :LUPVVHQWURW]GHPKLHUEOHLEHQVDJWH$WODQ:LUPVVHQGHQ%HUKUXQJVNUHLVILQGHQ *XFN\VROOGLH)H\HUGDOHUEHODXVFKHQ Ä,FKJHKHDXI.XQGVFKDIWULHIGHU0DXVELEHU
/DGLFKQLFKWHUZLVFKHQPDKQWHGHU$UNRQLGHZl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|UGHUWHGLH/DPSHWHOHNLQHWLVFKLQHLQH(FNH 1RFKPDOJXWJHJDQJHQVHXI]WH$WODQ 'DV'LQJKlWWHGLFKHUVFKODJHQN|QQHQVDJWH*XFN\'DVKlWWH3HUU\XQVQLH YHU]LHKHQ $FKZDV$WODQZLQNWHDE(U]lKOHXQVHQGOLFKZDVGXHUOHEWKDVWXQGZRUEHUGXGLFK DPVLHUVW 'DVZROOWLKUZRKOJHUQZLVVHQJULQVWHGHU0DXVELEHUXQGHQWEO|WHVHLQHQ1DJH]DKQ ,FKKDEHHLQZHQLJLQGHQ*HGDQNHQGLHVHVXQYHUVWlQGLJHQ.ORW]HV*QWKUDQHJHVFKQIIHOW XQGGDEHLHUIDKUHQ)XQNWLRQGLHVHU3ODQHWLQGHU+LHUDUFKLHGHU)H\HUGDOHUEHVLW]W(VLVW GHU³ (UEUDFKDEZHLOVLFKGLH7U|IIQHWH=ZHL:DFKWSRVWHQEHWUDWHQGHQ5DXP ,KUVROOWPLWNRPPHQVDJWHQVLHNQDSS 9RQ GHU KDOEHQ $UPHH EHZDFKW ZXUGHQ VLH HUQHXW ]X *QWKUDQH JHEUDFKW 'HU REHUVWH )HLQVSUHFKHUJUXQ]WH ,FKKDEHHVPLUDQGHUVEHUOHJWVDJWHHU,KUN|QQWHWHXFKLQGHU=HLWHXUHV$XIHQWKDOWV VFKOLHOLFK QW]OLFK PDFKHQ ,FK ZHUGH HXFK LQ GHQ 1RUGHQ VFKLFNHQ 8QG ]XU (VNRUWH JHZDQGWIXKUHUIRUW 6FKDIIWVLHQDFK6LELULDQWK 6LHZXUGHQLQHLQHQ6FKZHEHUJHODGHQZlKUHQG*XFN\OHLVHYRUVLFKKLQODFKWH$XIHLQHU EUHLWHQ6WUDHJLQJHVJHQ1RUGHQ +LQWHUGHQ%HUJHQPXHLQ5DXPKDIHQVHLQ $OOHIXKUHQKHUXP'LH:lFKWHUZXUGHQXQUXKLJ(VZDUGDVHUVWHPDOVHLWGHU/DQGXQJDXI 3HFKVWUlKQHGD/HYL6RODQHU6FKPLGWHWZDVJHVDJWKDWWH 'DGUEHQVFKZHEHQWDWVlFKOLFKGDXHUQG5DXPVFKLIIHKHUXPVWHOOWH7UHN3ROOPHUIHVW 6LHVWDUUWHQ]XU.XSSHOGHV6FKZHEHUVKLQDXV $FK HV KDW MD GRFK NHLQHQ 6LQQ HXFK QRFK OlQJHU HWZDV YRU]XPDFKHQ MDSVWH *XFN\ :LUEUHFKHQDPEHVWHQDXVGDQQZHUGHWLKUVHKHQZDVKLHUORVLVW (USDFNWH3ROLPHUXQG6FKPLGWGWXQGWHOHSRUWLHUWHPLWLKQHQ'UHL6HNXQGHQGDQDFKKROWH HUGLH=ZLOOLQJHDQVFKOLHHQG$WODQXQG7RIIQHU'HQ)H\HUGDOHUQEOLHEGHU0XQGRIIHQDOV VLH QXU QRFK OHHUH 6LW]H VDKHQ 'HU 6FKZHEHU KLHOW PLWWHQ DXI GHU 6WUDH DQ 'LH 6FKRFNZLUNXQJ ZDU VR JUR GD GLH :lFKWHU ODQJH =HLW ZLH LUU XP GDV )DKU]HXJ KHUXPOLHIHQhEHULKUZHLWHUHV6FKLFNVDOLVWQLFKWVEHNDQQW 6LHVWDQGHQDXIHLQHP+JHOXQGLKUHQJURHQ$XJHQQDFKNRQQWHPDQJODXEHQGDVLHHLQ 3DUDGLHVVFKDXWHQYRQGHU$QK|KHDXIHLQHEOKHQGH:HOWPLWJUQHQ )HOGHUQXQGJOLW]HUQGHQ)OVVHQEOLFNWHQ'RFKZHQQPDQJHQDXKLQVDKEHPHUNWHPDQGHQ IHLQHQ8QWHUVFKLHGVRIRUW'LH*UXSSHVWDQGDXIHLQHU0OOKDOGH+LQWHULKUVWLHJHQ 6WDXEIDKQHQHPSRUYHUXUVDFKWYRQHWOLFKHQ5DXPHUQGLHEHUGHP*HOlQGHVWDQGHQXQG 0OODEZDUIHQ 6RMHW]WZLWLKUHVEHPHUNWH*XFN\KHLWHU3HFKVWUlKQHLVWGHU0OOSODQHWGHU )H\HUGDOHU:DVDXVGHU)HUQHZLH%HUJHDXVVLHKWVLQG0OOKDOGHQ
%HWUHWHQHV6FKZHLJHQ 'DV:LFKWLJVWHDEHULVWGDHVDXIGLHVHP3ODQHWHQNHLQHQ%HUKUXQJVNUHLVJLEW'LH .DLVHULQYRQ7KHUPEHVFKlIWLJWVLFKQLFKWPLW$EIlOOHQ ,VWGDVYHUEUJW"IUDJWH$WODQ -D,FKKDEHHVGHPREHUVWHQ)HLQVSUHFKHUDEJHODXVFKW'HU$UPHVFKHLQWQXUULFKWLJ GHQNHQ]XN|QQHQZHQQHUKHLEDGHW :LHYHUNHKUWGLH:HOWGHU)H\HUGDOHUGRFKLVWVWDXQWH7UHN3ROOPHU%HLXQV 0HQVFKHQLVWHVJHQDXXPJHNHKUW 'DQQELVWGXDOV.LQGVLFKHU]XKHLJHEDGHWZRUGHQ7UHN *XFN\WHOHSRUWLHUWH]XU6HLWHZHLO7UHNPLWHLQHUOHHUHQ'RVHQDFKLKPZDUIGLHHU EOLW]VFKQHOODXIJHKREHQKDWWH 'DVEHGHXWHWGDVLFKXQVHU9HUGDFKWPLW%$5',2&QLFKWEHZDKUKHLWHW'HU*HJQHUGHU .DLVHULQYRQ7KHUPZLUGVLFKQLFKWPLWHLQSDDU)H\HUGDOHUQKHUXPVFKODJHQGLHLKUHP 3ODQHWHQXQGGHVVHQ1DPHQDOOH(KUHPDFKHQ'DV6LJQDOZLUGDQGHUHQ8UVSUXQJVVHLQ VFKOR$WODQ (VEHVWHKWGLH0|JOLFKNHLWGDHVYRQGHQ)H\HUGDOHUQVHOEVWDXVJHKWRGHUYRQHLQHP DQGHUHQ3ODQHWHQVDJWH3HP7RIIQHU :LHGHPDXFKVHLZLUNHKUHQ]XQlFKVWLQGHQ:HOWUDXP]XUFNXQGXQWHUULFKWHQ3HUU\YRQ GHP(UJHEQLVGHU6XFKH(UVROOHQWVFKHLGHQREZLUZHLWHUVXFKHQRGHUGHQ)OXJIRUWVHW]HQ $IOHQLFNWHQ]XVWLPPHQG]X$WODQV:RUWHQ ,FK ZHL HV VFKRQ ULHI *XFN\ 3HUU\ ZLUG VLFK EHHLOHQ GHQ $XIWUDJ GHU 6XSHULQWHOOLJHQ] ]X HUIOOHQ (V JHKW VFKOLHOLFK XP QLFKWV PHKU XQG QLFKWV ZHQLJHU DOV GLH (UGH (U EUDFKWH GLH VHFKV 0HQVFK ]XU .RUYHWWH ]XUFN $WODQ VWDUWHWH XQG VFKDOWHWH JOHLFK DXI $XWRPDWLNXP6FKDGHPHLQWH*XFN\$XI:LHGHUVHKHQVFK|QHU3ODQHW3HFKVWUlKQH 6HLHQGOLFKUXKLJGX4XDVVHOVWULSSHULHI7UHN:LUN|QQHQIURKVHLQGDGHU5FNZHJ ]XU .RUYHWWH XQG GHU 6WDUW RKQH 6FKZLHULJNHLWHQ YRU VLFK JLQJHQ :HQQ LFK DQ GLH YHUVFKLHGHQHQ=ZLVFKHQIlOOHVHLWXQVHUHU/DQGXQJGHQNH 5XKHLFKNDQQGDV:RUW3HFKVWUlKQHQLFKWPHKUK|UHQHUNODQJHVKLQWHULKPPLWPDWWHU 6WLPPH 7UHN GUHKWH VLFK XP XQG EOLFNWH LQ GDV ILHEHUURWH *HVLFKW YRQ /HYL 6RODQHU 6FKPLGW'DV:RUW3HFKVWUlKQHPDFKWPLFKNUDQN,FKKDEH0LJUlQH (U VHW]WH VLFK LQ HLQHQ 6HVVHO XQG ZDU EDOG GDUDXI HLQJHVFKODIHQ 8QG ZlKUHQG GLH .RUYHWWH]XP0XWWHUVFKLII]XUFNNHKUWHWUlXPWHLKPGDGLH62/HLQ0OOVFKLIIZDUXQGHU VLFKWlJOLFKGXUFKGLH.RUULGRUH]XU.DQWLQHZKOHQPXWH(LQIUZDKUHQWVHW]OLFKHU7UDXP :lKUHQG HU QRFK WUlXPWH NHKUWH *XFN\ PLW LKP LQ GLH 62/ ]XUFN 'HU 0DXVELEHU VFKDIIWHLKQJOHLFKLQVHLQH.DELQH8QGDOVGDV6FKLIIOlQJVW)DKUWDXIJHQRPPHQKDWWHXQG GLH 6XFKH QDFK GHP 02'8/ EHJDQQ WUlXPWH /HYL 6RODQHU 6FKPLGW ZHLWHU YRQ VHLQHP OHW]WHQ$EHQWHXHUEHLGHPHUVHLQHQ)XDXIGLH2EHUIOlFKHHLQHV3ODQHWHQJHVHW]WKDWWH1LH ZLHGHU 'LH+HLPNHKUHU 'DV 6\VWHP GHU JHOEHQ 6RQQH EHVWDQG DXV VLHEHQ 3ODQHWHQ $XHU HLQ SDDU NOHLQHQ 6WW]SXQNWHQ DXI GHQ NOHLQHUHQ :HOWHQ XQG 0RQGHQ ZDU HV XQEHZRKQW 'DQQ DEHU ILHO GHU =ZHUJVWHUQ GHU ODQJH =HLW DOV %HJOHLWHU GHU 6RQQH VHLQH %DKQ JH]RJHQ KDWWH LQ VLFK ]X
VDPPHQ(VELOGHWHVLFKHLQ6FKZDU]HV/RFK 6RIRUW ]RJHQ 6FKLIIH HLQHQ hEHUZDFKXQJVULQJ XP GDV 6\VWHP XQG EHREDFKWHWHQ GLH (QWZLFNOXQJ 6LH HUOHEWHQ GLH 6WDELOLVLHUXQJ GHV %ODFN +ROH XQG ZDUWHWHQ JHVSDQQW GDUDXI ZDVJHVFKHKHQZUGH'LHVHFK]HKQ5DXPVFKLIIHXQWHU&RGHQ*RQ]UHFKQHWHQPLWDOOHP6LH KDWWHQ $QZHLVXQJ GDV *HVFKHKHQ SHLQOLFK JHQDX DXI]X]HLFKQHQ XQG VRIRUW GRUWKLQ ]X EHUWUDJHQZRPDQDPVHKQOLFKVWHQGDUDXIZDUWHWH (LQNOHLQHUOHXFKWHQGHU3XQNWHQWVWDQGLQGHP6FKZDU]HQ/RFK(UZHLWHWHVLFKUDVFK]X HLQHU QHEOLJHQ XQG PLOFKLJHQ *DVZRONH DXV GLH VLFK GHKQWH XQG GXUFKVLFKWLJ ZXUGH 'DQQ HUVFKLHQHQ LQ LKUHP ,QQHUQ ]ZHL *HELOGH ZLH ]ZHL +LPPHOVN|USHU HLQ JURHV XQG HLQ NOHLQHV 'LH $XIQDKPHJHUlWH VFKDOWHWHQ LKU =RRP HLQ 'LH 2SWLN KROWH GLH EHLGHQ .|USHU XQHQGOLFK UDVFK ]X VLFK KHUDQ YHUJU|HUWH VLH LQV 8QHUPHOLFKH 'LH hEHUWUDJXQJ OLHI hEHUDOOKLQ ZXUGHQ GLHVH %LOGHU JHVFKLFNW EHUDOO VDHQ 0HQVFKHQ JHEDQQW DQ LKUHQ (PSIlQJHUQ XQG EHJDQQHQ ODQJVDP ]X EHJUHLIHQ GD GDV ZDV VLFK YRU LKUHQ $XJHQ DEVSLHOWH GDV (QGH HLQHU ODQJHQ XQG TXDOYROOHQ (SRFKH ZDU 'LH 9HUJDQJHQKHLW NHKUWH ]XUFN 8QG LQ GLH %LOGHU LQ GLH ZDOOHQGHQ 1HEHO GLH GLH EHLGHQ .|USHU XPVFKORVVHQ XQG VLFK DOOPlKOLFKYHUIOFKWLJWHQELVVLHJDQ]YHUVFKZXQGHQZDUHQPLVFKWHVLFKHLQHZRKOEHNDQQWH 6WLPPH ,KUVHKWZDVYRUVLFKJHKWVDJWHVLH'HU3ODQGHU9ROOHQGXQJZLUGDEJHVFKORVVHQ 'LH6WLPPHVSUDFKZHLWHU.DXPK|UWHQGLH0HQVFKHQ]X*HEDQQWVDKHQVLHDXIGLHEHLGHQ +LPPHOVN|USHU GHQ JURHQ PLW VHLQHQ .RQWLQHQWHQ XQG GHQ NOHLQHQ SRFNHQQDUELJHQ %HJOHLWHUGLHNODUDXILKUHQ%LOGVFKLUPHQVWDQGHQXQGLKUHQ:HJXPGLH6RQQH]XUFNOHJWHQ 'LH 0HQVFKHQ ZXWHQ GD GHU 6SUHFKHU UHFKW KDWWH 'DV 8QWHUQHKPHQ 3,/*(59$7(5 NRQQWHEHJLQQHQ'HU6SUHFKHUDEHU3UlWHQGHQWLKUHV,PSHULXPVVFKORGHQ.RPPHQWDUPLW GHQ :RUWHQ /DW XQV DOOH ]XVDPPHQDUEHLWHQ GDPLW ZLU VR EDOG ZLH P|JOLFK ZLHGHU +HLPDWERGHQXQWHUGHQ)HQVSUHQ 0LWGLHVHQ:RUWHQEOHQGHWH-XOLDQ7LIILRUVLFKDXVGHUhEHUWUDJXQJYRQ7HUUD1HZVDXV'HU 7HUUDQHUDWPHWHWLHIGXUFK(UKDWWHHLQHQ]lKHQ.DPSIJHNlPSIWXPVLFKGLH8QWHUVWW]XQJ GHU %HY|ONHUXQJ IU GDV 8QWHUQHKPHQ ]X JHZLQQHQ 'LH (QWZLFNOXQJ KDWWH LKP UHFKW JHJHEHQ 9LHOH *lDQHU PRFKWHQ LQ GLHVHQ $XJHQEOLFNHQ GDUDQ GHQNHQ XQG HUNHQQHQ GD VHLQH+DQGOXQJVZHLVHXPVLFKWLJJHZHVHQZDU'LHPHLVWHQ0HQVFKHQLQGHU3URYFRQ)DXVW HPSIDQGHQLKUH$QZHVHQKHLWDXI*lDLPPHUQRFKDOVXQIUHLZLOOLJHV([LO6LHKDWWHQVLFKPLW GHP6FKLFNVDO([LOWHUUDQHU]XVHLQQLFKWDEJHIXQGHQ 9LHOH GHU MXQJHQ JlDJHERUHQHQ 0HQVFKHQ EHWUDFKWHWHQ GLH (QWZLFNOXQJ PLW 6WDXQHQ +DWWH VLFK GRFK HUIOOW ZDV LKUH (OWHUQ XQG 9RUIDKUHQ LPPHU ZLHGHU HU]lKOW KDWWHQ -HQHU 3ODQHW YRQGHPGLH0HQVFKKHLWVWDPPWHZDUDQVHLQHQXUVSUQJOLFKHQ3ODW]]XUFNJHNHKUW$XIGLH )OFKWOLQJHLQGHU'XQNHOZRONHZDUWHWHGLH+HLPDW $P -XQLODQGHWHGDVhEHUWUDJXQJVVFKLIIGLH(; DXIGHU(UGH(UGHXQG0RQG KDWWHQ GHQ 'XUFKJDQJ GXUFK GLH 7UDQVPLWWHUVWUHFNH 0HGDLOORQ.REROG RKQH JU|HUHQ 6FKDGHQ EHUVWDQGHQ $XHU HLQHP 7HUUDQHU QDPHQV *ODXV %RVNHWFK KDWWH HV NHLQH 7RWHQ JHJHEHQ1$7+$1DUEHLWHWHDQGHU5HJHQHUDWLRQGHU=LYLOLVDWLRQ (LQHQ7DJVSlWHUWUDIGLH(;LQGHU3URYFRQ)DXVWHLQ'LH0HQVFKKHLWDXI*lDEHIDQGVLFK LQHLQHP7DXPHOGHU)UHXGH'DV(UHLJQLVZDUVREHUZlOWLJHQGGDYLHOHHVDQIDQJVJDU QLFKWJODXEHQZROOWHQ'LH9HUHLQLJXQJHQXQG9HUElQGHGLHJHJUQGHWZRUGHQZDUHQXP GDV8QWHUQHKPHQ3,/*(59$7(5]XYHUKLQGHUQYHUVFKZDQGHQVSXUORVYRQGHU%LOGIOlFKH 'LHHUVWHQ5XIHQDFKHLQHUVRIRUWLJHQ8PVLHGOXQJZXUGHQODXW 0RQD.DLWHUEHIDQGVLFKXQWHUGHQ0HQVFKHQGLHQLFKWPHKU]XEUHPVHQZDUHQ6LHQDKP DQHLQHUGHUVSRQWDQHQ)HLHUQVWDWWGLHQDFK]Z|OI6WXQGHQLQDXVJHODVVHQHQ)HVWHQPLW
JURHQ*HODJHQXQGYLHO5XPPHODXVDUWHWHQ1DFKGUHL7DJHQJLQJVLH ]XPHUVWHQPDOQDFK +DXVHXP]XVFKODIHQ6LHZDUJOFNOLFK)UVLHZDUGDV)HVWGHU5FNNHKUGHU(UGHGLH HUVWH*HOHJHQKHLWVLFKLQWHQVLYHUPLW0lQQHUQ]XEHIDVVHQ,PhEHUVFKZDQJGHU)UHXGH DFKWHWHNHLQHUVRVHKUDXIGDV$XVVHKHQGHU)UDXGLHHU]XP7DQ]KROWH %LVKHUKDWWH0RQDQLH*OFNPLW0lQQHUQJHKDEW2EZRKOYRQDXIJHVFKORVVHQHP:HVHQ IKOWHQGLHPHLVWHQVLFKYRQLKUQLFKWDQJH]RJHQ0RQDZDU-XQJ6LHZDUDXI*lDJHERUHQ OHEWHVHLWLKUHU.LQGKHLWLQ6RO7RZQ6LHZDUPLWWHLOVDPDEHULKU+RUL]RQWPHLVWEHUGHP LKUHU*HVSUlFKVSDUWQHU(LQELFKHQIHKOWHLKUGDV9HUP|JHQDXFKHLQPDOVLPSOH.RQYHU VDWLRQ]XWUHLEHQXQGEHU%HODQJORVLJNHLWHQ]XUHGHQ -HW]WPDFKWHQGLHVH8QWHUVFKLHGHQLFKWVPHKUDXV'LH0HQVFKHQZLHJWHQVLFKLQGHU 9RUVWHOOXQJLKU%QGHOSDFNHQ]XN|QQHQ6LHLQWHUHVVLHUWHQVLFKQLFKWIUGLH*HJHQZDUW ,KUH*HGDQNHQVFKZHLIWHQLQGLH)HUQHLKUH9RUVWHOOXQJHQEHUGLH=XNXQIWZXFKVHQLQV 3KDQWDVWLVFKH'LHPHLVWHQYHUJDHQGLH5HDOLWlW'DVLHQDFKLKUHU$QNXQIWDXIGHU(UGH KDUWIUHLQHQHXH=LYLOLVDWLRQDUEHLWHQPXWHQ'DHV6FKZHLXQG7UlQHQNRVWHQZUGH DXVGHU(UGHHLQ3DUDGLHV]XPDFKHQZLHHVGLHPHLVWHQVLFKYRUVWHOOWHQ 0RQD .DLWHU KLHOW VLFK IHUQ YRQ EHUVWHLJHUWHQ*HGDQNHQ6LHZDU1DWXUZLVVHQVFKDIWOHULQ VLHLQWHUHVVLHUWHQGLHSK\VLNDOLVFKHQXQGK\SHUSK\VLNDOLVFKHQ9RUJlQJHGLHEHLGHU5FNNHKU YRQ(UGHXQG0RQGHLQH5ROOHJHVSLHOWKDWWHQ7URW]GHPYHUJDVLHIUHLQSDDU7DJHLKUHQ %HUXIQDKP8UODXEXQGJDEVLFKJDQ]GHU$XVJHODVVHQKHLWKLQ6LHKDWWHODQJHQLFKWPHKUJH WDQ]W VHLW LKUHP 7DQ]NXUV QLFKW 1DFK HLQHP DXVJLHELJHQ 6FKODI NHKUWH VLH ]XUFN LQ GDV *HElXGH 'HUHUVWH$QVWXUPEHJDQQ'LH0HQVFKHQGLHDXI*lDNHLQ(LJHQWXPEHVDHQGUlQJWHQDXI GLHZHQLJHQ6FKLIIHGLHDXIGHQ5DXPKlIHQGHV3ODQHWHQVWDQGHQ 'LH2UGQXQJVNUlIWHPXWHQhEHUVWXQGHQPDFKHQXP7XPXOWH]XYHUKLQGHUQ'LH0HQVFKHQ ZDUHQDXVGHP+l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lQNHQVDHQ +HLKUGDYRUQULHIHLQHUGHU0lQQHUGLHDQGHU:DQGVWDQGHQZHLOVLH NHLQHQ6LW]SODW] PHKUHUJDWWHUWKDWWHQ(LQHQJQVWLJHUHQ5DXPIUXQVHUH=XVDPPHQNXQIWNRQQWHWLKUHXFK QLFKWDXVVXFKHQ 'HU0DQQGHUDXIGHQHLQ]LJHQ6WXKOVWLHJZLQNWHDE :R ZLOOVW GX KLQ" IUDJWH HU (V JLEW NHLQH 6lOH GLH ZLU EHQXW]HQ N|QQWHQ hEHUDOO ZLUG JHIHLHUWXQGGLH6WDGWZLUGLQZHQLJHQ7DJHQHLQHP+H[HQNHVVHOJOHLFKHQ 'DVNDQQVLFKIUXQVQXUJQVWLJDXVZLUNHQULHIHLQH)UDX $OOHU$XJHQULFKWHWHQVLFKDXIVLH'LH)UDXZDUVFKODQNKRFKJHZDFKVHQXQG0LWWH9LHU]LJ 'LH $XJHQ GHU 0lQQHU WDVWHWHQ VLFK EHU LKUH SURSRUWLRQLHUWH )LJXU GLH LQ HLQHQ HQJDQOLHJHQGHQJUQPHWDOOLFVFKLPPHUQGHQ$Q]XJJHNOHLGHWZDU'LHURWHQ+DDUHKLQJHQLKU ELVDXIGHQ5FNHQKLQDE 7DWMDQDKDWUHFKWULHIGHU0DQQDXIGHP6WXKO:LUKDEHQXQVKLHUJHWURIIHQZHLOZLU XQV]XU$XIJDEHJHPDFKWKDEHQGLH6LWXDWLRQDXV]XQXW]HQ:LUZROOHQHLQHQ3ODQ DXVDUEHLWHQZLHZLUVFKQHOOUHLFKZHUGHQN|QQHQ (UOLHVHLQH$XJHQEHUGLHHWZD]ZDQ]LJ3HUVRQHQZDQGHUQ(UNDQQWHDOOHGLHKLHU ZDUHQ(VZDUHQDXVQDKPVORV0HQVFKHQGLHNHLQHQIHVWHQ)DPLOLHQVWDQGRGHU:RKQVLW]
KDWWHQ5XKHORVHGLHGLH*HOHJHQKHLWQXW]HQZROOWHQVLFKILQDQ]LHOO]XYHUEHVVHUQQDFKLKUHU 8PVLHGOXQJ]XU(UGHHLQDQJHQHKPHUHV/HEHQ]XIKUHQDOVELVKHU=XPLQGHVWPDWHULHOO :D\QH:D[HQVRKLHGHU0DQQDXIGHP6WXKOUHFNWHVLFKVRJXWHVJLQJ(UVWHOOWH5XKH LQGHP=LPPHUKHU'DQQXQWHUEUHLWHWHHUGLHHUVWHQ9RUVFKOlJH'DV6\VWHPGDVHU YRUVFKOXJZDUYHUEOIIHQGHLQIDFK 0DQ EUDXFKWH QXU GLH WlJOLFKHQ 1DFKULFKWHQ ]X VWXGLHUHQ GDQQ HUIXKU PDQ DXWRPDWLVFK ZHOFKH)LUPHQ*HVFKlIWHXQG,QVWLWXWLRQHQLKUH*HVFKlIWHVFKORVVHQZHLOVLHGHQ8P]XJ]XU (UGH GXUFKIKUWHQ ,Q VROFKHQ )lOOHQ ZXWH PDQ ZDU HV OHLFKWHU DXI DEJHVFKDOWHWH $ODUPDQODJHQXQGRIIHQH7UHQ]XWUHIIHQ :LUZROOHQXQVRUJDQLVLHUHQYHUNQGHWH:D[HQ:LUWUHIIHQXQVMHGHQ$EHQGKHLPOLFK KLHU'DQQYHUVXFKHQZLUGLH(LQVlW]HMHQDFK)lKLJNHLWHQ]XYHUWHLOHQ1HQQWPLUDPEHVWHQ HXUH%HUXIH (V VWHOOWH VLFK KHUDXV GD DXHU HLQ SDDU ZHQLJHQ NHLQHU HLQH VSH]LHOOH $XVELOGXQJ JHQRVVHQKDWWH6LHDOOHZDUHQZDVPDQHWZDVDEIlOOLJJHZ|KQOLFKH$QJHVWHOOWHQDQQWH7HLOV DXV GHP *XQVWJHZHUEH WHLOV DXV ZHQLJHQ (LQULFKWXQJHQ VWDPPHQG GLH QRFK PHQVFKOLFKH %HGLHQVWHWHEHVFKlIWLJWHQGLHVHDEHUDXI*UXQGGHV:HJ]XJVYRQ*lDORVKDEHQZROOWHQ'HU ([RGXVGHU0HQVFKHQZDUHLQHJQVWLJH*HOHJHQKHLWPLWDOOHQXQOLHEVDPHQ%HNDQQWVFKDIWHQ GHVELVKHULJHQ/HEHQV6FKOX]XPDFKHQ :D\QH:D[HQODFKWH(UGDFKWHGDUDQGDPLWGHPOHW]WHQ0HQVFKHQGHUGDV([LOLQGHU 3URYFRQ)DXVW YHUOLH GDV :LUNHQ VHLQHU *UXSSH QRFK QLFKW ]X (QGH ZDU $XI GHU (UGH NRQQWHQ GLH YRQ LKU EHVFKDIIWHQ *WHU XQG *HJHQVWlQGH ]X KRKHQ 3UHLVHQ YHUNDXIW ZHUGHQ GHQQVLHZUGHQGRUWIHKOHQ :LUSURILWLHUHQYRP$XV]XJKLHUXQGYHUGLHQHQXQVDXI7HUUDGXPPXQGGlPOLFKPDFKWH HU VHLQHQ 0LWVWUHLWHUQ EHJUHLIOLFK 9RQ GHQ %HPKXQJHQ 7LIIORUV GHU 5HJLHUXQJ XQG GHU %HK|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lIWLJW ZDUHQ 'LH *UXSSH GHU*HVFKlIWHPDFKHUVRQGLHUWHGDV*HOlQGH:D[HQWHLOWHGLH0lQQHUXQG)UDXHQHLQ ,Q GHU GDUDXIIROJHQGHQ 1DFKW IXKUHQ DQ IQI 6WHOOHQ LQ 6RO7RZQ XQG GHP YRUJHODJHUWHQ ,QGXVWULH]HQWUXP*OHLWHUXQG6FKZHEHUYRU9HUPXPPWH*HVWDOWHQVWLHJHQDXVXQGPDFKWHQ VLFK GDUDQ LQ GLH *HElXGH +DOOHQ XQG +|IH HLQ]XGULQJHQ (V JHODQJ LKQHQ LQ DOOHQ )lOOHQ UHLEXQJVORV :DV QLFKW QLHW XQG QDJHOIHVW ZDU WUDQVSRUWLHUWHQ VLH DXI $QWLJUDYVFKHLEHQ KLQDXV OXGHQ HV LQ LKUH )DKU]HXJH XQG IXKUHQ GDYRQ $P QlFKVWHQ 0RUJHQ IHKOWH YRQ GHQ 7lWHUQ MHGH 6SXU 1XU :D[HQ XQG VHLQH *UXSSH ZDUHQ XP PHKUHUH KXQGHUWWDXVHQG 6RODU UHLFKHUJHZRUGHQ ,QGHQGDUDXIIROJHQGHQ:RFKHQPHKUWHQVLFKGLH'LHEVWlKOHXQG7LIIORUVDKVLFKJHQ|WLJW ]XU$XIUHFKWHUKDOWXQJGHU2UGQXQJGLHhEHUZDFKXQJ]XYHUVWlUNHQ'DVEHUHLWHWHDOOHUGLQJV JURH3UREOHPHGHQQ6RO7RZQZDULQGLHVHQ2NWREHUZRFKHQEHUHLWVHLQHVWHUEHQGH6WDGW 'LH +lXVHU OHHUWHQ VLFK 9ROOEHVHW]WH XQG EHUODGHQH 5DXPVFKLIIH YHUOLHHQ GHQ 3ODQHWHQ IDQGHQPLW+LOIHGHU9DNX/RWVHQGHQ:HJKLQDXVLQGLH*DOD[LVXQGVWHXHUWHQGLH(UGHDQ $OOHV ZDV DQ EURNUDWLVFKHP $SSDUDW QRFK ]XU 9HUIJXQJ VWDQG ZXUGH ]XU HLQLJHUPDHQ UHLEXQJVORVHQ$EZLFNOXQJGHU$XVZDQGHUXQJVZHOOHEHQ|WLJW (V LVW IDVW DXVVLFKWVORV JHJHQ GLH 3OQGHUHU YRU]XJHKHQ VDJWH GHU 3UlWHQGHQW EHL HLQHU VHLQHU5RXWLQHEHVSUHFKXQJHQPLWGHP)KUXQJVVWDEGHU$XVZDQGHUXQJVEHK|UGH$OOHLQGDV 3HUVRQDOGLHVHU,QVWLWXWLRQKDWWHQDFKGHU5FNNHKUGHU(UGHDQLKUHQDQJHVWDPPWHQ3ODW]XP
GDV =ZDQ]LJIDFKH YHUVWlUNW ZHUGHQ PVVHQ $EJHVHKHQ GDYRQ GD XQV QLFKW JHQJHQG 2UGQXQJVNUlIWH]XU9HUIJXQJVWHKHQZUGHHV-DKUHGDXHUQELVPDQGLH7lWHUYHUXUWHLOHQ N|QQWH(VJLEWDXI*lDNHLQHIXQNWLRQVIlKLJHQ6WUDIJHULFKWHPHKU 'DVHLQ]LJH0LWWHOZlUHGLH6FKDIIXQJYRQ6FKQHOOJHULFKWHQHULQQHUWH)UDQFLV*UHHPEHOO 7LIIORUVFKWWHOWHGHQ.RSI 'D]X ZlUH GLH $XVUXIXQJ GHV 1RWVWDQGV HUIRUGHUOLFK© VDJWH HU 'DV ZLOO LFK YHUPHLGHQ 'HU $XV]XJ YRQ *lD VROO QLFKW GHQ (LQGUXFN HUZHFNHQ DOV VHL GDV &KDRV EHU GLH 0HQVFKKHLWKHUHLQJHEURFKHQ (UVFKZLHJHLQH=HLWODQJ'LH$QJHK|ULJHQVHLQHV6WDEHVVDKHQHVVHLQHP*HVLFKWDQGDHU DQJHVWUHQJWQDFKGDFKWH6FKOLHOLFKKHOOWHHVVLFKDXI FKKDEHHLQH,GHH:LUQHKPHQDOOH5RERWHUGLHDXI]XWUHLEHQVLQGXQGYHUZHQGHQVLH]XP 6FKXW] GHU (LQULFKWXQJHQ GLH HV DXI *lD QRFK JLEW (V ZHUGHQ GD]X YLHOH GHU 0DVFKLQHQ XPSURJUDPPLHUWZHUGHQPVVHQGDVVROOWHXQVDEHUQLFKWDEVFKUHFNHQ
7DW\ VR ZXUGH 7DWMDQD -HJDOLV LQ]ZLVFKHQ YRQ LKUHQ .ROOHJHQ LP 7HDP JHQDQQW EHJDQQ ODQJVDPDQHLQH)JXQJGHV6FKLFNVDOV]XJODXEHQ6LHEHJDQQPLWGHP*HGDQNHQ]XVSLHOHQ GDHVLKUH$XIJDEHVHLVLFKDQ+DEXQG*XWDQGHUHU]XEHUHLFKHUQ6LHVWHOOWHVLFKYRUGD GLH 0HQVFKHQ GHQHQ VLH GLH :RKQXQJHQ DXVUlXPWH MD GRFK DOOHV OLHJHQ XQG VWHKHQODVVHQ ZUGHQZHQQVLHQXUHLQH3DVVDJH]XU(UGHHUKLHOWHQ6RIHVWYHUUDQQWHVLHVLFKLQGLHVH,GHH GDVLHGLHREHUIOlFKOLFKVWHQ5HJHOQGHU9RUVLFKWEHUVDK ,QGHU1DFKWYRPDXIGHQ1RYHPEHUGUDQJVLHPLWGHQYLHU0lQQHUQLKUHV7HDPV LQHLQH:RKQXQJHLQYRQGHUHQ%HVLW]HULQVLHZXWHGDGLHVHLQGHQ QlFKVWHQ7DJHQ*lDYHUODVVHQZUGH'LH)UDXKDWWHDXI9HODQJHU,KUHQ6SLRQGHQ(LQGUXFN HLQHU MXQJHQ (UELQ JHPDFKW GLH JHUQ DXI DXVJHODVVHQHQ )HVWHQ KHUXPWREWH VLFK VRQVW DEHU QXU JHLVWLJHQ ,QWHUHVVHQ ZLGPHWH XQG NHLQHU $UEHLW QDFKJLQJ 'D GLHVH )UDX DOOHLQVWHKHQG ZDUVFKULHEHULKUHPQLFKWJHUDGHDQ]LHKHQGHQ*HVLFKW]X 9HODQJHU KDWWH GLH HLJHQHQ 9RUVWHOOXQJHQ YRP JHUXKVDPHQ /HEHQ DXI YROOHQ *HOGVlFNHQ PLWLQVHLQH%HREDFKWXQJHQKLQHLQLQWHUSUHWLHUW(VNDPLKPQLFKWLQGHQ6LQQGDGLHVH)UDX QXU GHVKDOE NHLQHU $UEHLW QDFKJLQJ ZHLO LKU ,QVWLWXW EHUHLWV QDFK 7HUUD XP]RJ XQG VLH LQ ZHQLJHQ 7DJHQ IROJHQ ZUGH 'HQ *UXQG ZDUXP VLH DXFK QXU HLQHQ 7DJ OlQJHU EOLHE DOV Q|WLJHUDKQWH9HODQJHUQLFKW 'LH *UXSSH DXV YLHU 3HUVRQHQ EHWUDW GDV *HElXGH GHVVHQ (LQJDQJVWU QLFKW YHUULHJHOW ZDU 6LH OLHHQ VLFK YRP $QWLJUDY QDFK REHQ EULQJHQ 9HODQJHU KDWWH YHUVLFKHUW GD GLH :RKQXQJVLQKDEHULQVHLWGUHL6WXQGHQDXHU+DXVZHLOWH'DQDFKULFKWHWHQVLHVLFK7DWMDQD XQWHUEUDFKGLH6WURP]XIXKUDP(LQJDQJVURERWGDQQEHWUDWHQVLHGHQ)OXUPLWGHU*DUGHUREH GLH *HVFKPDFN XQG 6WLO DXVVWUDKOWH 6LH VFKREHQ GLH 7U KLQWHU VLFK ]X 'DQQ EHJDQQHQ VLH GHQ)OXUDE]XVXFKHQXQGIOVWHUWHQOHLVHPLWHLQDQGHU'DEHLEHUK|UWHQVLHGLH%HZHJXQJGLH DXV GHP KLQWHUVWHQ =LPPHU GUDQJ 6LH EHJULIIHQ HUVW DOV GDV W\SLVFKH .QDFNHQ GHU 7U YHUULHJHOXQJHUNODQJXQGJOHLFK]HLWLJHLQGQQHV)LHSHQVLHGDUDXIDXIPHUNVDPPDFKWHGD MHPDQG$ODUPJHJHEHQKDWWH 6FKQHOO UDXV IOVWHUWH 7DW\ 6LH UL DQ GHU 7U GRFK GLH OLH VLFK QLFKW |IIQHQ (LQH PHFKDQLVFKH 6SHUUYRUULFKWXQJ KDWWH GHQ DXHU )XQNWLRQ JHVHW]WHQ HOHNWULVFKHQ gIIQHU DEJHO|VW$XFKGLH=LPPHUWUHQEHZLHVHQGDGLH:RKQXQJHLQH=HQWUDOYHUULHJHOXQJKDWWH 6LHZDUHQLP)OXUJHIDQJHQ 'X YHUGDPPWHU 1DUU EUOOWH 7DWMDQD 9HODQJHU DQ 9RQ ZHJHQ DXHU +DXV VHLW GUHL 6WXQGHQ,QHLQHPGHU=LPPHUVLW]WGLHVH'LUQHXQGODFKWVLFKLQV)lXVWFKHQ7UHWHWGLH7U HLQ 'LH :RKQXQJVWU ZDU DXV 0HWDOO XQG KLHOW VWDQG .XU] GDUDXI HUW|QWHQ GUDXHQ 6FKULWWH /DXWH 5XIH HUNODQJHQ 6LH K|UWHQ ZLH HLQHU GHU 3ROL]LVWHQ LQ HLQ )XQNJHUlW VSUDFK XQG $QWZRUW HUKLHOW'DUDXIK|UWHQVLHLPKLQWHUVWHQ=LPPHU]ZHL6WLPPHQHLQHZHLEOLFKHXQG HLQHOHLVHUHPlQQOLFKHGLHDXVHLQHP9LGHR]XNRPPHQVFKLHQ'DV.QDFNHQLQGHQ7UHQ
XQG GDV (LQGULQJHQ GHU 2UGQXQJVNUlIWH ]HLJWHQ GD GLH 9HUULHJHOXQJ HQWIHUQW ZRUGHQ ZDU 7DWMDQD OLH GLH PLW GHP :HUN]HXJ HUKREHQH +DQG VLQNHQ 6LH XQG LKUH %HJOHLWHU ZXUGHQ DEJHIKUW 0LWXQEHZHJWHP*HVLFKWVDK0RQD.DLWHUDXIGHQ0DQQGHULKUJHJHQEHULQGHQWLHIHQ 3ROVWHUQHLQHV6HVVHOVVD5DQGROSKH*HHUVZDUVRIRUWQDFK$EVFKOXGHU$NWLRQ]XLKU JHHLOW :LU VLQG ,KQHQ ]X JU|WHP 'DQN YHUSIOLFKWHW EHJDQQ HU 2KQH ,KUH *HLVWHVJHJHQZDUW ZlUHQZLUGHU%DQGHZDKUVFKHLQOLFKQLHDXIGLH6SXUJHNRPPHQ 6LHNRQQWHQDOOHIDVVHQ"HUNXQGLJWHVLFK0RQDVWHLQHUQ $OOHELVDXIHLQHQ(LQJHZLVVHU:D\QH:D[HQHQWNDP(UZDUYRUVLFKWLJHUDOVGLH DQGHUHQ2EZRKOHUYRQ6HLQHQ.DPHUDGHQYHUSILIIHQZXUGHJHODQJLKPGLH)OXFKW 6LHZHUGHQLKQEHVWLPPWILQGHQZHQQ6LHDOOH$XVZDQGHUHUNRQWUROOLHUHQVDJWH0RQD )DOOV HU QLFKW EHUHLWV XQWHUZHJV LVW HUZLGHUWH *HHUV +LHU (U KLHOW LKU HLQ )RWR KLQ %HKDOWHQ6LHHV9LHOOHLFKWHQWGHFNHQ6LHGHQ0DQQ 'D]XZHUGHLFKNDXP*HOHJHQKHLWKDEHQhEHUPRUJHQJHKWPHLQ6FKLII (EHQPHLQWHHU,FKVSUDFKJHUDGHYRQGHU(UGH *HHUVHUKREVLFK0RQDYHUDEVFKLHGHWHLKQDQGHU7UPLWHLQHPNXU]HQ*UX6LHNHKUWH LQGDV:RKQ]LPPHU]XUFNXQGOLHVLFKVFKZHULQGLHGLFNHQ3ROVWHUIDOOHQ :DUXPKlQJWHVLPPHUDQPLU"EHUOHJWHVLH,QPHLQHP%HUXIMHW]WDXFKLQPHLQHP 3ULYDWOHEHQELQLFKGD]XYHUGDPPWLPPHUQXUDQGHUHQ]XKHOIHQ-HW]WKDEHLFKDXFKQRFK GHQ%HK|UGHQHLQHQ'LHQVWHUZLHVHQ:DVDEHUZLUGDXVPLU" 3O|W]OLFKEHJDQQVLH]XVFKOXFK]HQ'XUFKGLHJHVSHQVWLVFKHQ0LQXWHQGHV(LQEUXFKVXQG GHQ%HVXFK5DQGROSKH*HHUVKDWWHVLHGDV(UOHEWHIUNXU]H=HLWYHUGUlQJW 6HOEVWYHUVWlQGOLFKKDWWH9HODQJHUULFKWLJJHVHKHQ6LHZDUDXVGHP+DXVJHJDQJHQZROOWH QLFKW YRU GHP QlFKVWHQ 0RUJHQ ]XUFNNRPPHQ 6LH KDWWH GDV GULWWH 6WHOOGLFKHLQ PLW 3KLO JHKDEWGHQVLHDXIHLQHUGHU7DQ]SDUW\VNHQQHQJHOHUQWKDWWH3KLOZDUQHWW]XLKUJHZHVHQ 0RQD ZLVFKWH VLFK GDV :DVVHU DXV GHQ $XJHQ 6LH KDWWH VLFK +RIIQXQJHQ JHPDFKW )URKJHODXQW ZLH QRFK QLH ZDU VLH DEHQGV ZHJJHJDQJHQ 8QG GDQQ KDWWH 3KLO VLH IDOOHQJHODVVHQZLHHLQHKHLH.DUWRIIHO 'X ELVW QLFKW PHLQ 7\S KDWWH HU ]X LKU JHVDJW $XHUGHP YHUOlW GX EHUPRUJHQ *lD ZlKUHQGLFKQRFKHLQSDDU:RFKHQEOHLEHQPX,FKZHUGHGLFKQLFKWZLHGHUVHKHQ 'LHVH :RUWH NODQJHQ HQGJOWLJ 6HNXQGHQ VWDQG 0RQD VWDUU GLH $XJHQ DXI GDV 0lGFKHQ JHULFKWHW GDVVLFKDQGLH%UXVW3KLOV VFKPLHJWH:DU VLHHVGLHLQ GHQQlFKVWHQ7DJHQXQG :RFKHQVHLQ%HWWWHLOHQZUGH" 0RQD.DLWHUKDWWHVLFKZRUWORVDEJHZDQGWXQGZDUJHJDQJHQ$XV:LHVFKRQRIWLQ YHUJDQJHQHU=HLW(LQH(QWWlXVFKXQJ6LHHUWDSSWHVLFKGDEHLGDVLHVLFKHUKREXQGLQGHQ )OXUJLQJZRGHUJURH6SLHJHOKLQJ:DVZDUDQLKUVRDEVWRHQGGDNHLQHUPLWLKUHLQH GDXHUKDIWH%LQGXQJHLQJHKHQZROOWH" )UDQN 'ROSRODQ VWDQG DXI GHU 7HUUDVVH GHV YLHUVW|FNLJHQ +DXVHV GDV HU YRUHUVW DOOHLQ EHZRKQWH(UOLHVHLQHQ%OLFNEHUGLH'lFKHUGHU6WDGWJOHLWHQGLHWUlJHYRULKPODJ6LH ZDU RKQH /HEHQ (U JHERUHQ DXI *lD XQG PLW GHUHUVWHQ (LQZDQGHUXQJVZHOOH ]XU (UGH JH NRPPHQZDUELVMHW]WGHUHLQ]LJH0HQVFKLQGLHVHU6WDGW Ä6LH LVW VR NOHLQ VR HQJ GDFKWH 'ROSRODQ XQG YHUVXFKWH GLH 6FKDWWHQ GHU *DVVHQ ]X GXUFKGULQJHQ(VJHODQJLKPQLFKW-HW]WLP/LFKWGHUDXIJHKHQGHQ6RQQHZDUHVQLFKWKHOO
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lFKHU YRQ $EHED KLQEHU GDV HWZDV DEJHVHW]W YRQ GHU HUVWHQ :RKQVWDGW $GGLV DXI GHU +RFKHEHQH ODJ 5LQJVKHUXP ZDU GDV *UQ GHU 1DWXU WHLOV XUVSUQJOLFK WHLOV ZXFKHUQGH *HZlFKVHGLHGHQJU|WHQ7HLOGHU,QGXVWULHDQODJHQEHUGHFNWKDWWHQ-DKUHZDUHQHLQH ODQJH=HLW 'ROSRODQNHKUWHLQVHLQ:RKQ]LPPHU]XUFN$OVHU*lDYHUODVVHQKDWWHZDUHUGHU0HLQXQJ JHZHVHQ GLH ODQJH =HLW GHU ,PSURYLVDWLRQ XQG $EJHVFKORVVHQKHLW VHL YRUEHL (U KDWWH VLFK JHWlXVFKW,Q$GGLVOHEWHHUJHQDXVRZHLWHUZLH]XYRU.HLQH0HQVFKHQVHHOHOLHVLFKLQGHU $EJHVFKLHGHQKHLWGHVDEHVVLQLVFKHQ+RFKODQGHVVHKHQ 'ROSRODQ NOHLGHWH VLFK DQ 'LH %HK|UGH IU /DQGYHUWHLOXQJ KDWWH LKP HLQ 6WFN *HOlQGH DXHUKDOE GHU 6WDGW ]XJHZLHVHQ DXI GHP HU GDV 1RWZHQGLJVWH IU GHQ /HEHQVXQWHUKDOW DQEDXHQNRQQWH'HQ5HVWPXWHHUVLFKLQ$WKHQKROHQGHUZLFKWLJVWHQ6WDGWDP0LWWHOPHHU *HUQKlWWHHUJHZXWZDUXPHV$WKHQZDUGDVGHQ0LWWHOSXQNWELOGHWH:DUXPQLFKW$GGLV RGHU.DLUREHUGDVDXIDOWHQ%lQGHUQQRFKGHU1DPH.DKLUD]XOHVHQZDU :lKUHQGHUVLFKHLQNOHLQHV)UKVWFN]XUHFKWPDFKWHEHUOHJWHHUGDHVJOHLFKJOWLJZDU ZR GLH HUVWHQ +RFKEXUJHQ PHQVFKOLFKHU .XOWXU HQWVWDQGHQ 6REDOG DOOH *lDQHU EHUVLHGHOW ZDUHQ XQG DXFK GLH 0HQVFKHQ DXV GHQ ]HUUWWHWHQ .RORQLHQ ]XU (UGH JHNRPPHQ ZDUHQ ZUGHQVLFKDOOH6WlGWHIOOHQ (U WUDW ]X VHLQHP 9LGHRDQVFKOX XQG GUFNWH GHQ .QRSI ,QIR (LQ JUQHV /LFKW OHXFKWHWH DXI'LH/HLWXQJZDUIUHL6LHZDULPPHUIUHL :LHJURLVWGLH0|JOLFKNHLWGDLFKGHUHLQ]LJH0HQVFKLQGLHVHU6WDGWEOHLEH"IUDJWHHU 1DFKGHQMHW]LJHQ,QIRUPDWLRQHQGLHDXIUHHOOHQ:HUWHQEHUXKHQKXQGHUW3UR]HQWODXWHWH GLH$QWZRUW)UDQNZDUEHXQUXKLJW :DVKHLWDXIUHHOOHQ:HUWHQ " (VVLQGNHLQH6SHNXODWLRQHQEHUP|JOLFKHZHLWHUH(LQZDQGHUHUHQWKDOWHQ +HLWGDVGDHV]XU=HLWNHLQH(LQZDQGHUHUJLEW" 1HLQ6LHZHUGHQDXIDQGHUHQ.RQWLQHQWHQXQGLQZLFKWLJHUHQ*HELHWHQDQJHVLHGHOW )UDQN'ROSRODQVFKDOWHWHDE0LWGHU0DVFKLQHNRQQWHHUQLFKWYHUQQIWLJUHGHQ(VZXUGH =HLWGDHUZLHGHUXQWHU0HQVFKHQNDP(UVDKDXIGLH'LJLWDODQ]HLJHVHLQHV.DOHQGHUV,Q ]ZHL7DJHQZDUHVVRZHLW'DQQZUGHLKPGLH=HQWUDOYHUZDOWXQJHLQHQ*OHLWHUVFKLFNHQPLW GHPHU(LQNlXIHHUOHGLJHQNRQQWH'HU*OHLWH"VWDQGLKPNRVWHQORV]XU9HUIJXQJGD)UDQN QRFK EHU NHLQ JHUHJHOWHV (LQNRPPHQ YHUIJWH :HU EHQ|WLJWH LQ GLHVHU =HLW DXFK HLQHQ JHOHUQWHQ%XFKELQGHU (UYHUOLHVHLQH:RKQXQJXQGVWLHJGLHVWHOOHQ7UHSSHQKLQDE$QIDQJVKDWWHHUGHQIHKOHQGHQ $QWLJUDYYHUIOXFKW,Q]ZLVFKHQZDUHUGLHWlJOLFKH$QVWUHQJXQJJHZRKQW 'XUFK GDV JOlVHUQH (LQJDQJVSRUWDO YHUOLH HU GDV *HElXGH LP 3URPLQHQWHQYLHUWHO LQ GHP ZDKUVFKHLQOLFK QLH PHKU 3URPLQHQWH ZRKQHQ ZUGHQ +|FKVWHQV HLQ SDDU XQYHU]DJWH DOWH 0HQVFKHQGLHGDKLQ]XUFNNHKUWHQZRVLHIUKHUHLQPDOJHZRKQWKDWWHQ'ROSRODQHULQQHUWH VLFK GD GLH ZHQLJVWHQ GHU +HLPNHKUHU 0HQVFKHQ ZDUHQ GLH IUKHU DXI GHU (UGH JHZRKQW KDWWHQ 'LH 0HQVFKHQ GHU (UGH ZDUHQ VSXUORV YHUVFKZXQGHQ :DUHQ VLH GDV ZLUNOLFK" (U HULQQHUWHVLFKHWZDVJHK|UW]XKDEHQZXWHDEHULP$XJHQEOLFNQLFKWZDVHVLPHLQ]HOQHQ ZDU (UEHZHJWHVLFKDXIHLQHPGHUUXKHQGHQ*OHLWElQGHUDXIGHQ6WDGWUDQG]X3O|W]OLFKVWXW]WHHU XQGKLHOWDQ:HLWYRULKP]ZLVFKHQGHQDXIUDJHQGHQ+lXVHUIDVVDGHQVWDQGHLQH*HVWDOWXQG
ZLQNWH $XIDWPHQG VFKULWW 'ROSRODQ DXI VLH ]X (V ZDU HLQ NOHLQHU XQVFKHLQEDU ZLUNHQGHU 0DQQ(UPDFKWHHLQHQ]HUEUHFKOLFKHQ(LQGUXFN$XIGLH(QWIHUQXQJZDUHQVHLQH$XJHQGDV $XIIlOOLJVWH6LHZDUHQJURXQGGXQNHO'HU)UHPGHVWDQGXQGVFKLHQDXI)UDQN]XZDUWHQ %HLP +HUDQNRPPHQ KDWWH 'ROSRODQ *HOHJHQKHLW GLH *HVWDOW JHQDXHU ]X EHWUDFKWHQ 'HU 0DQQZDUHWZDHLQHQ0HWHUIQIXQGVLHE]LJJURGQQXQGVFKPDOEUVWLJ'LH%HLQHZDUHQ LP 9HUJOHLFK ]XP 2EHUN|USHU ODQJ 'LH *HVLFKWV]JH ZLUNWHQ JOHLFKPlLJ IDVW HGHO 'DV *HVLFKW OlFKHOWH IRUWZlKUHQG XQG EWH DXI GHQ %HWUDFKWHU HLQH HLJHQDUWLJH )DV]LQDWLRQ DXV 'DV +DDU VFKLPPHUWH WUNLVIDUEHQ -H QlKHU )UDQN NDP GHVWR IUHXQGOLFKHU VDKHQ LKQ GLH EODXHQ$XJHQGHV0DQQHVDQ9RULKPEOLHEHUVWHKHQ *XWHQ 7DJ VDJWH GHU )UHPGH ,FK KDWWH QLFKW HUZDUWHW LQ GLHVHU HLQVDPHQ 6WDGW HLQHP 0HQVFKHQ]XEHJHJQHQ ,FKDXFKQLFKWDQWZRUWHWH)UDQN+DVWGXYRUGLFKKLHUQLHGHU]XODVVHQ" 9LHOOHLFKW DQWZRUWHWH GHU 0DQQ XQG PDFKWH HLQH QLFKWVVDJHQGH *HVWH PLW GHQ IHLQJOLHGULJHQ+lQGHQ9LHOOHLFKWPDFKHLFKQXUHLQHQ%HVXFKKLHU 'DUI LFK GLFK ]X HLQHP *ODV 7HH HLQODGHQ" IUDJWH )UDQN VRUJORV XQG ZXQGHUWH VLFK QLFKW HLQPDOZLHVRHUDXVJHUHFKQHWDXI7HHNDP(UKDWWHZHOFKHQGDKHLPaEHQXW]WHLKQDEHUQXU VHOWHQ *HUQ VDJWH GHU )UHPGH XQG VHLQ /lFKHOQ YHUVWlUNWH VLFK )UDQN JHZDQQ GHQ (LQGUXFN GLHVHP0DQQVFKRQHLQPDOEHJHJQHW]XVHLQ ,FKKHLH)UDQN'ROSRODQVDJWHHUVFKOLHOLFKZlKUHQGHUVLFKLQ%HZHJXQJVHW]WHXQG]X VHLQHP+DXV]XUFNNHKUWH'HU)UHPGHJLQJQHEHQLKPKHU 'XNDQQVWPLFK%R\WQHQQHQVDJWHGHU)UHPGHPLWVHLQHUGXQNOHQDQJHQHKPNOLQJHQGHQ 6WLPPH,FKNRPPHDXV$WKHQ 6LHEHWUDWHQGDVYLHUVW|FNLJH+DXVXQGVWLHJHQODQJVDPGLH6WXIHQHPSRU 'X KDVW YRUKHU DXI *lD JHOHEW" IUDJWH )UDQN LQWHUHVVLHUW ,FK PHLQH GLFK IUKHU HLQPDO JHVHKHQ]XKDEHQ ,FKKDEHGRUWJHOHEWXQGDQGHUVZR0HLQH+HLPDWLVWGLH'XQNHOZRONH 'ROSRODQ NRQQWH PLW GLHVHU $QWZRUW QLFKWV DQIDQJHQ 0LW 6LFKHUKHLW KDWWHQ GLH %HK|UGHQ GLHVHQ 0DQQ JHVFKLFNW :DU HU GHU HUVWH HLQHU QHXHQ (LQZDQGHUXQJVZHOOH GLH QDFK $GGLV $EHEDJHOHLWHWZXUGH"%HLP7HHOLHHQVLFKGLHVH)UDJHQOHLFKWNOlUHQ 'LHEHLGHQ0lQQHUHUUHLFKWHQGLH:RKQXQJ6LHVHW]WHQVLFKDXIGLH7HUUDVVHZlKUHQGLQGHU EHKHOIVPlLJHLQJHULFKWHWHQ.FKHGDV7HHZDVVHUNRFKWH'LH9HUVRUJXQJVDXWRPDWHQKDWWHQ ELVKHUMHGHP$NWLYLHUXQJVYHUVXFKJHWURW]W %R\W VHW]WH VLFK LQ HLQHQ 6HVVHO JHJHQEHU )UDQN XQG EHREDFKWHWH LKQ DXIPHUNVDP 1LFKWV GHXWHWH GDUDXI KLQ GD HU PLW VHLQHP *HLVW VHLQ *HJHQEHU DEWDVWHWH ]X GHP HU HLQH QLFKW XQEHGHXWHQGH $IILQLWlW YHUVSUWH 'ROSRODQ HUZLGHUWH GHQ %OLFN (U EHJDQQ HEHQIDOOV ]X OlFKHOQ )DV]LQLHUHQG GLHVHU $XVEOLFN VDJWH %R\W 0DUJRU OHLVH XQG VDK EHU GLH 6LOKRXHWWH GHU 1DFKEDUVWDGWKLQZHJ$GGLVXQG$EHEDZLHLQDOWHQ=HLWHQ,FKKDEHPLFKLQIRUPLHUW -D KLHU EHU GLHVHU (QJH GHU 6WUDHQ ZLUG GHU :XQVFK QDFK :HLWH ZDKU 'HU 7UDXP GDV 8QHQGOLFKHIDVVHQ]XN|QQHQVDJWH)UDQNVWUDKOHQG:DVIKUWGLFKKHU%R\W" 'XELVWGHU*UXQG,FKKDEHHLQHQ$XIWUDJIUGLFK ,FK ELQ JHUQ EHUHLW LKQ ]X HUIOOHQ :RUXPJHKWHV"'LHJURHQEODXHQ$XJHQGHV$OELQRVYHUVDQNHQLQGHQVHLQHQ,FKVXFKH 8QWHUVWW]XQJ )UDQN XQG LFK KDEH GLFK JHIXQGHQ 'X ZLUVW PLU DE MHW]W DOV %HUDWHQGHU ]XU 9HUIJXQJVWHKHQ )UDQN 'ROSRODQ OlFKHOWH IUHXQGOLFK (LQH QLH JHNDQQWH :RJH SRVLWLYHU *HIKOH IU GLHVHQ 0DQQEHUVFKZHPPWH,KQ(UJLQJKLQHLQXQGKROWHGHQ7HH ,FKKDEHQLFKWV]XWXQLFKVWHKHGLU]XU9HUIJXQJPHLQWHHUEHLVHLQHU5FNNHKU .RPPEHUPRUJHQQDFK$WKHQVDJWH%R\W0DUJRUHLQIDFK'XZLUVWGRUWJHEUDXFKW :RVROOLFKODQGHQ" ,Q3LUlXVDXIGHP*OHLWHUSODW],FKZHUGHMHPDQGHQVFKLFNHQGHUGLFKDEKROW
(VLVWJXW(LQNDXIHQNDQQLFKVSlWHUQRFK Ä6RLVWHVEHVWlWLJWH%R\WXQGJULIIQDFKGHU7HHWDVVH8P)UDQNKHUXPYHUVDQNGLH:HOW 6LHZXUGHGXQNHOEODX$QIDQJVK|UWHHUGLHUXKLJH6WLPPH0DUJRUVXQGZXWHSO|W]OLFKGD GLHVHU HLQ JURHU 0DQQ ZDU (LQ 0DQQ PLW =XNXQIW GHU LKQ )UDQN 'ROSRODQ DQ GLHVHU =XNXQIWWHLOKDEHQODVVHQZROOWH $OVHUDXVVHLQHP6LQQHQDXIVFKUHFNWHZDUGHU6WXKOLKPJHJHQEHUOHHU)UDQNGXUFKVXFKWH GLH:RKQXQJDEHU%R\WEOLHEYHUVFKZXQGHQ$XFKGLH6WUDHZDUOHHU 7UDXULJ PDFKWH VLFK )UDQN ZLHGHU DXI GHQ :HJ (U ZROOWH VHLQ XUVSUQJOLFKHV 9RUKDEHQ DXVIKUHQ(UJLQJ]XVHLQHP*DUWHQXQGNPPHUWHVLFKXPGLH3IODQ]HQGHQ6DODWXQGGLH 5HWWLFKH%HLPDQFKHQ3IODQ]HQZXWHHUQLFKWZDVHUPLWLKQHQDQIDQJHQVROOWH6LHZDUHQ RKQHVHLQ=XWXQJHZDFKVHQ(UEHVFKOR]XSUIHQREVLHJHQLHEDUZDUHQRGHUREHVVLFK OHGLJOLFKXP8QNUlXWHUKDQGHOWH ,QGHU)HUQHK|UWHHUGDV*HMDXOHHLQHVUDVFKDXIVWHLJHQGHQ*OHLWHUV'DZXWHHUGD%R\W LKQYHUODVVHQKDWWHhEHUPRUJHQZUGHHULKPQDFKIROJHQ 'LH(UGHZDUGLHDOWH$EHUGLH0HQVFKHQZDUHQQHX=XPLQGHVWGHUJU|WH7HLO-HQHGLHGHU 7HUUD3DWURXLOOH DQJHK|UWHQ XQG GHQ 3ODQHWHQ DXI VHLQHU ODQJHQ 5HLVH EHJOHLWHW KDWWHQ ELOGHWHQHLQNOHLQHV+lXIFKHQ 'LH0HQVFKHQDXVGHU3URYFRQ)DXVWXQGYRQGHQ6LHGOHUZHOWHQHUKLHOWHQGLH&KDQFHLKUHV /HEHQV 9RU ODQJHU =HLW ZDUHQ VLH LQ HLQH EHVWHKHQGH *HVHOOVFKDIWVRUGQXQJ KLQHLQJHERUHQ ZRUGHQ-HW]WODJHVLQLKUHU+DQGHLQQHXHV/HEHQDXIGHU(UGH]XEHJLQQHQ6LHNRQQWHQGHQ 3ODQHWHQQDFKLKUHQHLJHQHQ:QVFKHQJHVWDOWHQ'LH/)7XQGGLH%HK|UGHQKDOIHQGDEHLVR JXWHVJLQJ 6HOEVWYHUVWlQGOLFKJDEHV6FKZLHULJNHLWHQ0DQFKPDOZDUHQGLH9RUVWHOOXQJHQGHU0HQVFKHQ QDFK :RKQRUW XQG /HEHQVUDXP QLFKW HUIOOEDU 6LH HUKLHOWHQ NHLQHQ 3ODW] DP 2UW LKUHU 7UlXPH$XFK7HUUDQLD&LW\ZDUQXULQEHVFKUlQNWHP0DIUGLH(LQZDQGHUHU]XJlQJOLFK ,QGLHVHU6WDGWOHEWHYRUQHKPOLFKGLH%HY|ONHUXQJ6RO7RZQV)OHFNHQZLH$GGLV$EHEDXQG 8PJHEXQJ JDE HV QXU ZHQLJH 6LH ]lKOWHQ ]X GHQ ZHQLJHU EHNDQQWHQ gUWOLFKNHLWHQ 'DV /HEHQGDZDUDEHUQLFKWZHQLJHUDWWUDNWLYDOVDQGHUVZR ,P =HQWUDOEUR GHU (LQZDQGHUXQJVEHK|UGH LQ 7HUUDQLD &LW\ KlXIWHQ VLFK GLH %HVFKZHUGHQ YRQ6LHGOHUQ'LH%HDPWHQOLWWHQVHLW:RFKHQDQhEHUDUEHLWXQJ,KUH1HUYHQZDUHQDP(QGH 6R PDQFKHU DXIGULQJOLFKH 0HQVFK PXWH HV VLFK JHIDOOHQ ODVVHQ GD HU HLQH $EIXKU HUKLHOW RGHU]XNXU]NDP6RDXFK6WHYHQ6DYDOO 'HUKXQGHUWGUHLLJ-DKUHDOWH-XQJJHVHOOHKDWWH7HUUDDOVNOHLQHV.LQGYHUODVVHQ6HLQ/HEHQ ODQJ KDWWH HU VHLQHQ 0LWPHQVFKHQ YRQ GLHVHP 3ODQHWHQ YRUJHVFKZlUPW -HW]W VWDQG HU LQ HLQHP GHU 9RU]LPPHU LQ ,PSHULXP$OSKD 6HLQH $XJHQ VFKOHXGHUWHQ %OLW]H DXI GHQ MXQJHQ %HDPWHQKLQWHUVHLQHP6FKUHLEWLVFK :DVVROOGDVKHLHQDOOHVEHVHW]W"ULHI6DYDOO:LVVHQ6LHEHUKDXSWZHULFKELQ"1LFKW" 'DQQ ZLOO LFK HV ,KQHQ VDJHQ (U VFKQDXIWH KHIWLJ -XQJHU 0DQQ LFK ELQ DXI GLHVHP 3ODQHWHQDXIJHZDFKVHQELQDXILKPJHERUHQ8QGMHW]WZLOOLFKLQGLH6WDGWPHLQHU9lWHU]X UFNNHKUHQZLOOLQGDV+DXVPHLQHV9DWHUVHLQ]LHKHQGDVLKPYRUGHP6WXU]GHU(UGHGXUFK GHQ .REROG 7UDQVPLWWHU JHK|UWH DXI GDV LFK DOV HLQ]LJHU (UEH HLQHQ $QVSUXFK KDEH ,FK NRPPH KLQ XQG ILQGH GDV +DXV VR YRU ZLH 6LH JHUDGH HUZlKQWHQ 9RQ REHQ ELV XQWHQ EH VHW]W 6DYDOOKREGLH+lQGHXQGVSUHL]WHGLH)LQJHU(UWUDWHLQHQ6FKULWWDXIGHQ6FKUHLEWLVFK]X (LQ(LQIDPLOLHQKDXV,QHLQHPNOHLQHQ*DUWHQDP+DQJJHOHJHQ0LWYLHO/LHEHJHSIOHJWLQ KXQGHUW]ZDQ]LJ -DKUHQ OHLFKW YHUZLOGHUW ULHI HU 8QG GD ZRKQHQ LQ VHFKV =LPPHUQ DFKW]HKQ3HUVRQHQGULQ8QGDOOHZROOHQGDV+DXVIUVLFK 6HLQH 6WLPPH KRE VLFK ELV VLH VLFK OHLFKW EHUVFKOXJ 6LH PVVHQ VLFK GDV YRUVWHOOHQ $FKW]HKQ0DQQLQHLQHP(LQIDPLOLHQKDXV
'HU%HDPWHKDWWHVFKZHLJHQG]XJHK|UW 'DVLVWQLFKWPHLQ%HUHLFK,FKELQIU1RUGHXURSD]XVWlQGLJ,KU+DXVOLHJWLQ*LEUDOWDUZLH LFKGDVDXVGHU$NWHHUVHKH 'DVVWLPPWIDXFKWH6DYDOO(UZDUGHP9HU]ZHLIHOQQDKH0HLQ*RWWZDUXPVDJHQ6LH HVJHKW6LHQLFKWVDQ"(VLVWVFKOLHOLFKPHLQ+DXV 'HU %HDPWH ZDU DEJHKlUWHW 6HLQ *HVLFKW EOLHE DXVGUXFNVORV (U ]XFNWH EHGDXHUQG PLW GHQ 6FKXOWHUQ (LQH (WDJH K|KHU =LPPHU DQWZRUWHWH HU QXU XQG GUFNWH 6WHYHQ 6DYDOO VHLQH 8QWHUODJHQ LQ GLH +lQGH 'DQQ EHXJWH HU VLFK EHU VHLQHQ 6FKUHLEWLVFK XQG WDW DOV VHL GHU 0DQQQLFKWPHKUDQZHVHQG'HSULPLHUWYHUOLH6DYDOOGDV%UR $P =LPPHU KLQJ HLQH 7DIHO 9RUEHUJHKHQG JHVFKORVVHQ VWDQG GDUDXI 9RU GHP 6FKLOGVWDQGHLQH)UDXXQGVWDUUWHHQWJHLVWHUWDXIGLH6FKULIW 6LHDXFK"IUDJWHHU]ZHLIHOQG'LH)UDXQLFNWH 8QGXQWHQZDUWHQ]ZHL0lQQHUPLWGHPVHOEHQ$QOLHJHQDQWZRUWHWHVLH6DYDOOIDWHVLFK DQGHQ.RSI ,FKJODXEHLFKKlWWHDXI*lDEOHLEHQVROOHQVW|KQWHHU'LH(UGHLVW]XHLQHP,UUHQKDXV JHZRUGHQ :LUVROOWHQHLQH,QWHUHVVHQJHPHLQVFKDIWJUQGHQVFKOXJGLH)UDXYRURKQHQlKHUDXIVHLQH :RUWHHLQ]XJHKHQ(LQH,QWHUHVVHQJHPHLQVFKDIWHKHPDOLJHU+DXVEHVLW]HUH9 6DYDOO]|JHUWHNXU] 'DVLVWGLH/|VXQJQLFNWHHUGDQQ:HQQVLFKQLHPDQG]XVWlQGLJIKOWPVVHQZLUGLH 'LQJHLQGLHHLJHQH+DQGQHKPHQ 6LH JLQJHQ KLQXQWHU ZR VLH ]ZHL GDQNEDUH %XQGHVJHQRVVHQ IDQGHQ %DOG ZXFKV GLH ,QWHUHVVHQJHPHLQVFKDIWDXI]ZDQ]LJ3HUVRQHQDQ6LHEHJDQQ]XKDQGHOQ (LQ JHZLVVHU :D\QH :D[HQ JHVWLNXOLHUWH GHU 0DQQ DXI GHP 9LGHRVFKLUP (U VWDQG EHUHLWV DXI *lD LQ GHQ )DKQGXQJVOLVWHQ -HW]W KDW HU VHLQH $NWLYLWlWHQ LQ (XURSD HQWIDOWHW 6HLQHHKHPDOLJHQ.RPSOL]HQVLQGDXVGHU8QWHUVXFKXQJVKDIWLQ-RKDQQHVEXUJHQWIORKHQ 9HUPXWOLFK ]LHKW HU VHLQH )lGHQ VFKRQ OlQJHU RKQH GD ZLU HWZDV GDYRQ PHUNWHQ DQWZRUWHWH7LIIORUGHP7HUUDQLVFKHQ5DWIU6LFKHUKHLW:LHZXUGHHUEHUKDXSWHQWGHFNW" :D[HQKDWDXI*lDYHUVFKLHGHQH)LUPHQXPZHUWYROOH7HLOHLKUHU(LQULFKWXQJHQHUOHLFKWHUW ZDV LQ GHU $XIEUXFKSKDVH OHLFKW ZDU (U KDW GHU &260,& ,167$17 *b$ ZHUWYROOH ,QGXVWULHPDVFKLQHQ YHUNDXIW PLW GHQHQ VLH LKUH QHXH =HQWUDOH ,Q 3DULV HLQULFKWHWH 'LH 0DVFKLQHQ KDWWH HU GHU &2&2 &260,& &21&(51 62/72:1 JHVWRKOHQ 8PJHNHKUW JHQDXVR'LH6DFKHNDPKHUDXVZHLOEHLGH)LUPHQIXVLRQLHUWHQ *LEWHV6SXUHQ" 1HLQ:D[HQXQGVHLQH+HOIHUDUEHLWHQQDFKZLHYRULPYHUERUJHQHQ*HVWHUQHUVWKDEHQVLH LQ1HZ
9RUPDFKWVWHOOXQJLQGHU0LOFKVWUDHDQVWUHEHQ'DUDXIPVVHQZLU5FNVLFKWQHKPHQ 8QWHUGLHVHP$VSHNWVWLPPHLFK,KQHQDOOHUGLQJV]XHQWJHJQHWH+HQGULN7RPEDOOD 9HUDQODVVHQ6LHDOOHV1RWZHQGLJHHPSIDKO-XOLDQ7LIIORUGDQQVFKDOWHWHHUDE%HYRUHU MHGRFKGD]XNDPVLFKGHQ8QWHUODJHQ]XZLGPHQGLHVLFKDXIVHLQHP6FKUHLEWLVFKWUPWHQ HUW|QWH HUQHXW HLQ 5XI]HLFKHQ .XU] GDUDXI |IIQHWH VLFK GLH 7U (LQ lOWHUHU 0DQQ PLW HLVJUDXHP 6FKQXUUEDUW WUDW HLQ 7LIIORU HUNDQQWH 7RGHRV 0\VHHJ HLQHQ 0LWDUEHLWHU DXV GHU $EWHLOXQJ IU 0HLQXQJVIRUVFKXQJ GHU /)7 0\VHHJ KDWWH PDJHEOLFKHQ $QWHLO DQ 7LIIORUV NXU]HP:DKONDPSIJHKDEW(UZDUHLQ)DFKPDQQDXIGHP*HELHWGHU3URSDJDQGD ,FKKDEHGLH9RUVFKOlJHGDEHLVDJWHHUHLQIDFKXQGVHW]WHVLFK7LIILRUNDPKLQWHUVHLQHP 6FKUHLEWLVFKKHUYRUXQGQDKPGLHGQQH0DSSHHQWJHJHQ :LHYLHOHVLQGHV"IUDJWHHU =ZDQ]LJ9RUVFKOl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lJH GLH DXFK LFK LQ GLH HQJHUH :DKO JHQRPPHQ KDWWH VDJWH 0\VHHJ $EHU HU KDW GHQ 1DFKWHLO GD HU YRU ODQJHU =HLW VFKRQ HLQPDO EHQXW]W ZXUGH +LVWRULNHUN|QQWHQ3DUDOOHOHQ]LHKHQXQGIDOVFKH6FKOVVHGDUDXVDEOHLWHQ 'HU 7H[W HQWVSULFKW JHQDX XQVHUHQ $EVLFKWHQ VDJWH 7LIIORU :LHGHU JULII HU QDFK GHP %RJHQXQGEHUIORJLKQ'HU7H[WODXWHWH /)7)UHLQELFKHQPHKU0HQVFKOLFKNHLW 'HQXQGNHLQHQDQGHUHQEHWRQWHGHU(UVWH7HUUDQHU(UKlWWHXQVLP:DKONDPSIQW]HQ N|QQHQ 'DV LVW YRUEHL -HW]W VROO HU XQV ZHQLJVWHQV DOV /HLWVDW] IU XQVHUH ZHLWHUH $UEHLW GLHQHQ 0RUJHQ ZLUG GDV 3ODNDW DQ MHGHU (FNH LQ MHGHU JU|HUHQ 6WDGW KlQJHQ YHUVSUDFK GHU 0HLQXQJVIRUVFKHU 6R VFKQHOO EUDXFKW HV DXFK QLFKW ]X JHKHQ ODFKWH 7LIIORU XQG JDE GHP 0DQQ GLH +DQG 0\VHHJ YHUOLH GDV %UR 7LIIORU NHKUWH KLQWHU VHLQHQ 6FKUHLEWLVFK ]XUFN XQG IDQG HQGOLFK =HLW VLFK XP VHLQH $UEHLW ]X NPPHUQ ,Q ]ZHL 6WXQGHQ NDP 0XWRJKPDQ 6FHUS ]X HLQHU DXHURUGHQWOLFKHQ 6LW]XQJ PLW GHQ K|FKVWHQ 9HUWUHWHUQ GHU /)7 ,KP ZUGH HU 5HGH XQG $QWZRUW VWHKHQ PVVHQ GHQQ 6FHUS ZUGH QLFKW XQYRUEHUHLWHW NRPPHQ (U ZUGH )UDJHQ QDFK(UVFKHLQXQJHQZLH:D\QH:D[HQVWHOOHQ:D[HQZDUHLQH*HIDKU (V ZDU LKU HUVWHU )OXJ GXUFK GLH 'XQNHOZRONH QDFK GUDXHQ 0RQD .DLWHU EHNDP DQIDQJV QLFKWYLHOGDYRQPLW,QGHU9HUIDVVXQJLQGHUVLHVLFKEHIDQGKDWWHVLHNHLQ,QWHUHVVHGDUDQ VLFK XP LKUH 8PJHEXQJ ]X NPPHUQ 6LH EHVFKlIWLJWH VLFK DXVVFKOLHOLFK PLW VLFK VHOEVW 8QWHU DQGHUHQ 8PVWlQGHQ KlWWH VLH GHQ 9RUJDQJ NDXP EHPHUNW GHU VLFK LQ LKU XQG XP VLH KHUXPDEVSLHOWH:lKUHQGGHU9DNX/RWVHGDV6FKLIIVLFKHUGXUFKGLH:LUEHOVWHXHUWHVSUWH 0RQD LQ LKUHP ,QQHUQ SO|W]OLFK HLQ OHLFKWHV .ULEEHOQ GDV IDVW XQWHU GHU PHQVFKOLFKHQ :DKUQHKPXQJVJUHQ]H LKUH 1HUYHQIDVHUQ GXUFKVFKDXHUWH (V ZDU HLQ OHLFKWHV 9LEULHUHQ EH JOHLWHWYRQHLQHU(UK|KXQJGHU.|USHUWHPSHUDWXU0RQDEHJDQQ]XVFKZLW]HQ 6LH VHW]WH VLFK XQG YHUKLHOW VLFK UXKLJ YHUVXFKWH ]X HUJUQGHQ ZDV PLW LKU ORV ZDU *LQJ HWZDVYRUZRYRQVLHNHLQH$KQXQJKDWWH"6LHZROOWHGLH=HQWUDOHDQUXIHQOLHHVDEHUVHLQ 6LHJLQJ]XLKUHP%HWWXQGOHJWHVLFKKLQ %HVWLPPWLVWGHU$ONRKROGDUDQVFKXOGUHGHWHVLHVLFKHLQ 'DVDKVLHGDVOHLFKWH)OLPPHUQGDVGLH/XIWEHULKULQ%HZHJXQJYHUVHW]WH0RQDVSUDQJ
DXI'DV)OLPPHUQIROJWHLKU ,FKELQYHUUFNWGXUFK]XFNWHHVVLH,FKKDEH+DOOX]LQDWLRQHQ 6LHKDWWHNHLQH$KQXQJGDGDV6FKLIILQGLHVHP0RPHQWGLH'XQNHOZRONHYHUOLHXQGGHU /RWVHYRQ%RUGJLQJ'HU9LQFUDQHUNHKUWHPLWVHLQHP%RRWLQGLH3URYFRQ)DXVW]XUFN 'DV )OLPPHUQ YHUVFKZDQG EHUJDQJVORV GDV .ULEEHOQ HEEWH DE 0RQD HUZDFKWH ZLH DXV HLQHPE|VHQ7UDXP7LHIGXUFKDWPHQGVDKVLHVLFKXP0LW(UVFKUHFNHQVWHOOWHVLHIHVWGD GLH :KLVN\IODVFKH DXI GHP 7LVFK OHHU ZDU 6LH KDWWH VLH DXVJHWUXQNHQ 7URW]GHP IKOWH VLH VLFKZHGHUEHWUXQNHQQRFKYHUNDWHUW 0RQD.DLWHUVHW]WHVLFKLQGHQ6HVVHOGHU]XU6WDQGDUGDXVUVWXQJGHU.DELQHQGHV6FKLIIHV JHK|UWHXQGEHUOHJWH'DV*DQ]HHUVFKLHQLKUXQZLUNOLFK:DVZDUORVJHZHVHQ"6LHKDWWH YLHOJHWUXQNHQ]XYLHO6LHHQWVFKORVLFKGRFKLQGHU=HQWUDOHDQ]XUXIHQ :RVLQGZLUMHW]W"IUDJWHVLHDOVGDV*HVLFKWHLQHV2IIL]LHUVDXIGHP6FKLUPHUVFKLHQ :LUKDEHQGLH3URYFRQ)DXVWYHUODVVHQXQGIOLHJHQGLH(UGHDQHUKLHOWVLH]XU$QWZRUW 0RQD VFKDOWHWH DE ,KUH *HGDQNHQ EHJDQQHQ ]X NUHLVHQ 'LH 'XQNHOZRONH +DWWH VLH HLQHQ (LQIOX DXI VLH GHQ VLH QLFKW NDQQWH RGHU ZDU HV QXU GLH (LQELOGXQJ GLH LKU HWZDV YRUJDXNHOWH"'DQQKlWWHVLHDEHUEHWUXQNHQVHLQPVVHQ6LHEHVFKORQDFKLKUHU$QNXQIWDXI GHU(UGHHLQHQ6SH]LDOLVWHQDXI]XVXFKHQ 'HU 5HVW GHV)OXJHVYHUOLHIHUHLJQLVORV 'DV 6FKLII VHW]WH DXIGHP 5DXPKDIHQYRQ7HUUDQLD &LW\ DXI 0RQD YHUJD GDV (UOHEQLV EHLP 'XUFKIOXJ GXUFKGLH 'XQNHOZRONH 6LH NPPHUWH VLFKXPGLH)RUPDOLWlWHQLKUHV:RKQRUWZHFKVHOV'UHL7DJHZDUVLHXQWHUZHJVELVVLHDOOHV HUOHGLJW KDWWH 'D GLH $UEHLW GHU %HK|UGHQ QRFK VFKOHSSHQG YRUDQJLQJ YLHOH bPWHU QLFKW RSWLPDO DXVJHUVWHW ZDUHQ GDXHUWH HV HZLJ ELV VLH HQGOLFK LKUH .UHGLWNDUWH XQG GHQ ,PSXOVVFKOVVHOIULKUHQHXH:RKQXQJLQ+lQGHQKLHOW6LHULFKWHWHVLFKHLQPLW%HJLQQGHU QHXHQ:RFKHQDKPVLHGLH$UEHLWLQLKUHP,QVWLWXWZLHGHUDXIGDVDP5DQGGHU6WDGWODJ $P]ZHLWHQ$UEHLWVWDJZXUGHHV0RQDXQKHLPOLFK6LHVWHOOWHIHVWGD0LWDUEHLWHUGLHLQDOO GHQ-DKUHQLPPHUJOHLFKJOWLJDQLKUYRUEHLJHJDQJHQZDUHQVLHPLWXQYHUKRKOHQHP,QWHUHVVH PXVWHUWHQ:HQQVLHVLFKXQYHUKRIIWXPGUHKWHVDKVLH0lQQHUGLHLKUQDFKEOLFNWHQ 6LHJLQJ]XUQlFKVWHQ7RLOHWWHXQGEHWUDFKWHWHVLFKYRQDOOHQ6HLWHQ6LHYHUVXFKWHHWZDV]X HQWGHFNHQ HLQHQ )HKOHU (LQHQ 5L LP 0DQWHOVFKXU] HLQHQ )DUEIOHFN DQ GHQ +DDUHQ RGHU HWZDVDQGHUHV6LH IDQGQLFKWV:DVZDUORV" 'DV(UOHEQLVDXIGHP)OXJILHOLKUHLQ%HVWDQGHLQ=XVDPPHQKDQJ"0RQDEOLFNWHLQGHQ 6SLHJHOXQGVDKVLFKWLHILQGLH$XJHQ6LHIDQG]XGHPZDKQZLW]LJHQ*HGDQNHQGDVLH SO|W]OLFKDWWUDNWLYHUJHZRUGHQZDUGDGLH0lQQHUVLFKLKUQLFKWPHKUJOHLFKJOWLJQlKHUWHQ (VZlUH]XVFK|QGDFKWHVLHXQGZXWHGDHV(LQELOGXQJZDU%LVVLH5RGUH\WUDIGHUVLH HLQHV%HVVHUHQEHOHKUWH 0RQDJLQJQDFK'LHQVWVFKOXKLQEHUDXIGLHDQGHUH6WUDHQVHLWHZRHLQ&DIHPLWQLFKWPHKU DOV]ZHLWDXVHQG3OlW]HQODJ6LHVHW]WHVLFKJDQ]KLQWHQDQGHQHLQ]LJHQIUHLHQ7LVFKGHQHV QRFKJDE6LHWDWGDVDXV3ULQ]LS(LQPDODXI*lDKDWWHVLHVLFK]XHLQHPMXQJHQ0DQQDQGHQ 7LVFKJHVHW]WXQGHUOHEHQPVVHQGDGLHVHUDXIVWDQGXQGVLFKHQWIHUQWHRKQHHLQ:RUWPLW LKUJHZHFKVHOW]XKDEHQ +LHUDEHUZDUHVDQGHUV:LHGHUVSUWHVLHGLH%OLFNHGLHPDQLKUKHLPOLFKRGHURIIHQ]XZDUI 0RQDVDKDXIGLH7LVFKSODWWHYHUWLHIWHVLFKLQGLH8QWHUODJHQGLHVLHGDEHLKDWWH =ZLVFKHQGXUFKWDVWHWHVLHVLFKHLQHQ7HHGHUVRIRUWDQGHU$XVJDEHVlXOHLQGHU0LWWHGHV 7LVFKHVHUVFKLHQ6LHJULIIQDFKGHP%HFKHUQDKPHLQHQ6FKOXFNXQGODVXQXQWHUEURFKHQ ZHLWHU (LQOHLVHV5lXVSHUQULVLHVFKOLHOLFKDXVGHU.RQ]HQWUDWLRQGLHVLHGLH8PZHOWXPVLFK KDWWHYHUJHVVHQODVVHQ6LHEOLFNWHDXIXQGVDKVLFKHLQHP0DQQJHJHQEHUGHUVLHIUHXQGOLFK DQOlFKHOWH ,FKKRIIHLFKVW|UHQLFKWVDJWHGHU0DQQ,FKKHLH5RGUH\8QGGX" ,Q GHQ YHUJDQJHQHQ 7DJHQ KDWWH 0RQD DXIJHK|UW VLFK ]X ZXQGHUQ 6LH KDWWH HLQHQ )UHXQG JHIXQGHQ=XVDPPHQPLW5RGUH\VDVLHLQHLQHP'VHQFOLSSHUGHUVLHGLUHNWYRQ7HUUDQLD
&LW\ QDFK 0DOWD EUDFKWH GHP 5DXP XQG )OXJKDIHQ LP 0LWWHOPHHU GHU GHU ]HQWUDOH 9HUNHKUVNQRWHQSXQNW (XURSDV ZDU +LHU WUDIHQ DOOH )OXJOLQLHQ ]XVDPPHQ 0DOWD ZDU HLQ HLQ]LJHU+DIHQGLHJDQ]H,QVHOXPIDVVHQG 0LW0KHXQG1RWKDWWHVLHHLQHQ8UODXEDXI9RUVFKXGXUFKJHVHW]W5RGUH\KDWWHVLH EHU]HXJWGDVLHQDFK*LEUDOWDUIOLHJHQVROOWHQZRHUHLQ+DXVEHVD-HW]WQlKHUWHQVLHVLFK PLWGUHLIDFKHU6FKDOOJHVFKZLQGLJNHLWLKUHP=LHO,Q0DOWDVWLHJHQVLHXPHLQHKDOEH6WXQGH VSlWHUODQGHWHGHU*OHLWHUDXIGHU%HWRQSLVWHLP+LQWHUODQGGHU/DQG]XQJH QDFKGHPHUYRUKHU HLQPDOGHQ)HOVHQXQGGLHJHZDOWLJH6WDXPDXHUPLWLKUHQ:DVVHUIlOOHQEHUIORJHQKDWWHGLH GDV0LWWHOPHHUYRPHWZD]HKQ0HWHUWLHIHUOLHJHQGHQ$WODQWLNDEJUHQ]WH$OVVLH5RGUH\V +DXVHUUHLFKWHQZDUHV$EHQG'LH'lPPHUXQJYHUZDQGHOWHVLFKODQJVDPLQ1DFKW 'XKDVWGDV/LFKWEUHQQHQODVVHQVDJWH0RQD]XLKUHP)UHXQGXQGVDKDQGHP)HOVKDQJ HPSRUDQGHPHVODJ5RGUH\ODFKWHQXU (VEUHQQWPLW$EVLFKWVDJWHHU(LQSDDU)UHXQGHHUZDUWHQXQV 'XEHZRKQVWGDV+DXVQLFKWDOOHLQ"IUDJWHVLH 1RFKQLFKW$EHUEDOGZHUGHLFKHVIUPLFKKDEHQ'HQDXIGULQJOLFKHQ0HQVFKHQGHUVLFK DOVUHFKWPlLJHU(LJHQWPHUDXVJLEWKDEHQZLUGDYRQJHMDJW 6LHJLQJHQGLHVWHLOH6WXIHQKRKH7UHSSHKLQDXIXQGEHWUDWHQGLH9LOODGHUHQ]ZHLVW|FNLJH )HQVWHUIURQWGDUDXIVFKOLHHQOLHGDHVVLFKHLQVWXPGHQ:RKQVLW]HLQHVEHWXFKWHQ 0DQQHVJHKDQGHOWKDWWH,P:RKQ]LPPHUZXUGHQVLHYRQHLQHU6FKDUYRQVHFK]HKQ 0lQQHUQXQG)UDXHQHPSIDQJHQ$OOHVSUDQJHQDXI +ROODZHQEULQJVWGXXQVGHQQGD"ULHIHQVLH 'DUILFKHXFK0RQDYRUVWHOOHQ"DQWZRUWHWH5RGUH\0RQD.DLWHU 0RQD.DLWHU"HUNODQJHLQH6WLPPHDXVGHP+LQWHUJUXQG'HQ1DPHQNHQQHLFKGRFK +H:D\QHNRPPPDOKHUDXV]XXQV (LQH)UDXGUlQJWHVLFKQDFKYRUQ,KUHODQJHQURWHQ+DDUHZHKWHQKLQWHULKUKHU%HLLKUHP $QEOLFNHUEOHLFKWH0RQDXQGWUDWPHKUHUH6FKULWWH]XUFN'LH)UDXZDU]ZHLIHOORVMHQH 3HUVRQGLHPLWHLQSDDU.RPSOL]HQLQGLH:RKQXQJ0RQDVLQ6RO7RZQHLQJHGUXQJHQZDU 'LH)UDXZDU7DWMDQD-HJDOLV :RKDVWGXPLFKKLQJHEUDFKW"ULHI0RQDXQGVDK5RGUH\HQWVHW]WDQ(U]RJVLHDQVLFK 'LHVH/HXWHZHUGHQXQVQLFKWPHKUODQJHEHOlVWLJHQIOVWHUWHHUQXUIUVLHK|UEDU ,P+LQWHUJUXQGGHV=LPPHUVHUVFKLHQHLQHJHGUXQJHQH*HVWDOW0RQDHUNDQQWHVLHVRIRUW6LH EHVDHLQ)RWRGHV0DQQHV(VZDU:D\QH:D[HQGHU'LHEXQG5lXEHU'HU0DQQNDP QlKHU'LFKWYRU0RQDEOLHEHUVWHKHQXQGVDKDXIVLHKLQDE 6RVRPHLQ0lXVFKHQNQXUUWHHUGLUDOVRKDEHQZLUGDV)LDVNRDXI*lD]XYHUGDQNHQ :LHN|QQHQZLUXQVUHYDQFKLHUHQ" 6HLQ/DFKHQZLUNWHEUHLWXQGVFKPLHULJ0RQDHPSIDQG$EVFKHXYRUGLHVHP0DQQ6LH]RJ VLFKKLQWHU5RGUH\]XUFN ,FKKDWWHNHLQH$KQXQJGDHV=XVDPPHQKlQJHJLEWVRQVWKlWWHLFKVLHQLFKWKHUJHEUDFKW VDJWH0RQDV)UHXQGGHUHUVWDXI7HUUD]X:D[HQV*UXSSHJHVWRHQZDU (VLVWHLQHUOHL'HLQH*HKHLPQLVWXHUHLLQOHW]WHU=HLWJHIlOOWPLUVRZLHVRQLFKW5RGUH\'LH 6WLPPH:D[HQVNODQJKDUW(UJDEGUHLHQVHLQHU0lQQHUHLQHQ:LQN 6SHUUWGLHEHLGHQLP.HOOHULQGLH'XQNHONDPPHURUGQHWHHUDQ5RGUH\XQG0RQDZXUGHQ HUJULIIHQXQG KLQDEJHVFKOHSSW,QHLQHUIHXFKWHQ.DPPHUVWHOOWHPDQVLHDEXQGYHUVFKORGLH VFKZHUH6WDKOWU(VZDUILQVWHU'HU5DXPEHVDNHLQ)HQVWHU'LH7UZDUXQEHUZLQGEDU 0RQDGUlQJWHVLFKDQ5RGUH\ :DVKDWGDV]XEHGHXWHQ"IUDJWHVLH(VVLQGGRFK)UHXQGHYRQGLU )UKHUZDUHQHVPHLQHEHVWHQ)UHXQGH$EHULQ]ZLVFKHQKDEHLFKPHLQH%HVWLPPXQJ JHIXQGHQDQWZRUWHWHHULKUXQGQDKPVLHLQVHLQH$UPH:D[HQXQGVHLQH%DQGHZHUGHQ QLFKWPHKUODQJHKLHUVHLQ'DQQKDEHQZLUGLHVHV+DXVIUXQVDOOHLQ 8QGGHU(LJHQWPHUGHQHVJLEWZDVLVWPLWGHP"VDJWH0RQDPXWORV25RGUH\ZRKDVW GXXQVGDKLQHLQJH]RJHQ
(VZLUGDOOHVJXWWU|VWHWHHUVLH(UOLHVLFK]X%RGHQJOHLWHQXQGVWW]WHGHQ.RSILQGLH +lQGH ,FKPXPLFKNRQ]HQWULHUHQ'XGDUIVWPLFKMHW]WQLFKWVW|UHQVDJWHHU0RQDVHW]WHVLFK QHEHQLKQXQGYHUKLHOWVLFKUXKLJ1XULKU$WHPZDU]XK|UHQ %R\WGDFKWH5RGUH\%R\WNDQQVWGXPLFKK|UHQ",FKKDEH0RQDEHLPLU:LUVLQGLP .HOOHUXQVHUHV]XNQIWLJHQ6WW]SXQNWVHLQJHVFKORVVHQ+ROHXQVKLHUKHUDXV%R\WK|UVWGX PLFK"
'DV9LGHRSKRQJHVSUlFKZXUGHLQ7HUUDQLD&LW\JHIKUW'LH*HVSUlFKVSDUWQHUNDQQWHQVLFK QLFKW 'HU HLQH ZDU HLQ $QJHK|ULJHU GHU 2UGQXQJVNUlIWH GHU DQGHUH HLQHU GHU HQJVWHQ 0LWDUEHLWHU-XOLDQ7LIIORUV :LUKDEHQHLQH 6SXUVDJWHGHU2UGQXQJVRIIL]LHU6LHIKUWQDFK*LEUDOWDU ,FKZHUGHVRIRUWDOOHVLQGLH:HJHOHLWHQDQWZRUWHWH5RQDOG7HNHQHUGHU7LIIORUYHUWUDW 'DQQOLHHUVLFK(LQ]HOKHLWHQPLWWHLOHQXQGVSHLFKHUWHVLHDXIHLQHP0DJQHWEDQG =XUJOHLFKHQ=HLWIDQGLQGHU6WDGWHLQ]ZHLWHV*HVSUlFKVWDWWGDVVLFKHEHQIDOOVPLW*LEUDOWDU EHVFKlIWLJWH=ZHLXQGGUHLLJ3HUVRQHQZDUHQLQGHPJHUlXPLJHQ:RKQ]LPPHUYHUVDPPHOW $OOHZDUHQVLH*HVFKlGLJWHLP6LQQHGHV(UEJHVHW]HV :LUIDQJHQPLW6DYDOOV+DXVDQVDJWH0DLGHQ+RXUQHOOGLH)UDXGLH6WHYHQ6DYDOOLQ ,PSHULXP$OSKDJHWURIIHQKDWWH :LHZROOHQZLUYRUJHKHQ"IUDJWHMHPDQG :LUIOLHJHQKLQPLHWHQXQVHLQSDDU*OHLWHUXQGODQGHQGLUHNWDXIGHP*HOlQGHDP %HUJKDQJ(VJLEWGD3ODWWIRUPHQLFKNHQQHGLHHLQ]HOQHQ6WHOOHQJHQDXDQWZRUWHWH6DYDOO :LUZHUGHQYRQXQVHUHQ/lKPZDIIHQ*HEUDXFKPDFKHQGLHXQV-R\F\EHVRUJWKDW0LWGHQ *OHLWHUQIOLHJHQZLUGLH+DXVEHVHW]HUGDQQLUJHQGZRKLQZRVLHNHLQHQ6FKDGHQPHKU DQULFKWHQN|QQHQ:LUVSHUUHQVLHHLQXQGWHLOHQGHU3ROL]HLLKUHQ$XIHQWKDOWVRUWPLW 9LHOOHLFKWILQGHWVLHHLQSDDU]ZLHOLFKWLJH6XEMHNWHGDUXQWHUXQGLVWXQVIUXQVHUH,QLWLDWLYH GDQNEDU :LHNRPPHQZLULQGDV+DXVKLQHLQ"IUDJWH0DLGHQ 'LH+DXVEHVHW]HUKDEHQGDV6FKOR]HUVW|UW)UGHQ1RWIDOOKDEHLFKGHQ,PSXOVJHEHU PHLQHV9DWHUV *XW:DQQEUHFKHQZLUDXI" :LUQHKPHQGHQ&OLSSHUXP8KU1DFK(LQEUXFKGHU'XQNHOKHLWWUHIIHQZLULQ0DOWD HLQ8P8KUEHJLQQWGHU(LQVDW]DP)HOVHQYRQ*LEUDOWDU$QVFKOLHHQGULFKWHQZLUXQVLQ PHLQHP+DXVHLQ:LUEHQXW]HQHVDOV6SUXQJEUHWWIUDOOHZHLWHUHQ8QWHUQHKPXQJHQ (VOHEHGLH,QWHUHVVHQJHPHLQVFKDIWHKHPDOLJHU+DXVEHVLW]HUULHI-R\F\ 'LH 0lQQHU XQG )UDXHQ WUHQQWHQ VLFK 6LH VXFKWHQ LKUH YHUVWUHXW LQ GHU 6WDGW OLHJHQGHQ 8QWHUNQIWHDXIXQGWUDIHQVLFKGDQQDP)OXJKDIHQ3QNWOLFKEUDFKWHVLHGHU'VHQFOLSSHULQ GHQ 0LWWHOPHHUUDXP 9RQ 0DOWD DXV JLQJ HV DXI GHP VFKQHOOVWHQ :HJ KLQEHU DQ GLH /DQG]XQJHDQGHUGLHJU|WH6WDXPDXHUGHU(UGHHQGHWH6LHKDWWHGHQ5FNVWXU]GXUFKGDV 6FKZDU]H/RFKXQEHVFKDGHWEHUVWDQGHQ 8P8KUQlKHUWHQVLFKYLHU0LHWJOHLWHUYRQ1RUGHQKHUGHQ+lXVHUQGLHZLH9RJHOQHVWHU DP)HOVHQKLQ JHQGHU+DQJVlXEHUOLFKLQEUHLWH7HUUDVVHQHLQJHWHLOWDOOH9LOOHQIUHLQRGHU ]ZHL)DPLOLHQ1XUHLQLJHZHQLJHJURH*HElXGHZDUHQLP6FKHLQLKUHU5HNODPHNHWWHQ]X HUNHQQHQ6LHPDUNLHUWHQGHQ:HJ]XP+DIHQ 6DYDOOJDE$QZHLVXQJDXIGHU*OHLWHUSODWWIRUP]XODQGHQGLHXQWHUKDOEVHLQHV+DXVHVLQGLH /XIWUDJWH0|JOLFKVWJHUlXVFKORVVHW]WHQGLHYLHU)DKU]HXJHDXI'LH0HQVFKHQVWLHJHQDXV $OOHWUXJHQHLQHQ/lKPVWUDKOHULQGHU+DQG$XI=HKHQVSLW]HQJLQJHQVLHKLQEHU]XGHP +DXV'DV7RUDQGHU0DXHUVWDQGRIIHQ6DYDOOOHXFKWHWHXQGVWHOOWHIHVWGDHVPLWHLQHP 6WUDKOHUDXIJHVFKZHLWZRUGHQZDU+LQWHUHLQDQGHUJLQJHQVLHGLHVWHLOH7UHSSHHPSRU
6LHKLHOWHQGHQ$WHPDQhEHULKQHQODJHQPHKUHUHHUOHXFKWHWH)HQVWHUDEHUNHLQ/DXWGUDQJ QDFKGUDXHQ,QGHU)HUQHHUNODQJGDV6XPPHQYRQ*\URVGDVVWHWLJODXWHUZXUGH0DLGHQ +RXUQHOOEOLHEREHQDQGHU7UHSSHVWHKHQ :DVLVWGDV"(VQlKHUQVLFK)DKU]HXJHIOVWHUWHVLH :LUODVVHQXQVQLFKWEHLUUHQ.RPPWUDXQWH6DYDOO]XUFN 0LWGHU(QWVFKORVVHQKHLWGHV(LJHQWPHUVVLFKVHLQ(LJHQWXP]XUFN]XKROHQ VFKREHUGLH QXUDQJHOHKQWH+DXVWUDXIXQGWUDWHLQ'LHDQGHUHQIROJWHQ6FKZHUH7HSSLFKHGlPSIWHQ LKUH6FKULWWH,UJHQGZRLP+LQWHUJUXQGZDUHQ6WLPPHQ]XK|UHQ=ZHL0l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lKPVWDKOEHVWULFKHQ'LHGUHL.|USHUVWU]WHQ]X %RGHQ6DYDOOVWLHGLH7UJDQ]DXI'DQQNHKUWHHULQGHQ)OXU]XUFN 9LHU0DQQIROJHQPLUQDFKREHQ'LH*UXSSHVFKOlIWDXIGLH=LPPHUYHUWHLOW:LUKDEHQ OHLFKWHV6SLHO 6LHJLQJHQQDFKREHQ7DWVlFKOLFKJHODQJHVLKQHQDOOH+DXVEHVHW]HUXQVFKlGOLFK]XPDFKHQ =XIULHGHQZDQGWHVLFK6DYDOODEXQGJLQJDXIGHQ*DQJKLQDXVGHUYRQHLQHU6HLWHGHV +DXVHV]XUDQGHUHQIKUWH,QGLHVHP$XJHQEOLFNNUDFKWHHV $XVGHQ$XJHQZLQNHOQKHUDXVVDK6DYDOOGDHLQILQJHUGLFNHU(QHUJLHVWUDKOGLH )HQVWHUVFKHLEHGXUFKVFKOXJ*ODVVSOLWWHUVSULW]WHQ(LQHUGHU0lQQHUGLHGLH6FKODIHQGHQ JHOlKPWKDWWHQEHIDQGVLFKQRFKLQGHP=LPPHU(UJLQJLQGLH.QLH (LQH*HVWDOWGXUFKEUDFKGLH7UPPHUGHV)HQVWHUVXQGODQGHWHDXIGHP)XERGHQGHV =LPPHUVQDFKGHPVLHLKUHQ)OXJWRUQLVWHUDEJHVFKDOWHWKDWWH6DYDOOVDKGLH0QGXQJGHV VFKZHUHQ6WUDKOHUVGHUDXIVHLQHQ0DJHQ]HLJWHXQGZDUIVLFK]XU6HLWH ,FKELQ]XIULHGHQPLWGLU)UDQNVDJWH%R\W0DUJRUPLWJOHLFKPlLJHU6WLPPH'ROSRODQ VWUDKOWH 'XZHLWGDGXGLFKDXIPLFKLQMHGHU%H]LHKXQJYHUODVVHQNDQQVW%R\WVDJWHHU :LHZHLWLVWHVQRFK"HUNXQGLJWHVLFKGHUNOHLQH0DQQPLWGHPWUNLVIDUEHQHQ+DDU 'ROSRODQVDKDXIGLH'LJLWDOXKUDP$UPDWXUHQEUHWWGHV*OHLWHUV :LUVLQGLQGUHL0LQXWHQDP=LHO ª+|UWLKUHV"ZDQGWHVLFK0DUJRUQDFKKLQWHQ(QJ]XVDPPHQJHGUlQJWVDHQ]ZDQ]LJ 3DUDWHQGHULQGHQ6HVVHOQXQGZDUWHWHQGDUDXIGLH(QJHEDOGYHUODVVHQ]XN|QQHQ %R\W0DUJRUV%OLFNULFKWHWHVLFKLQGLH)HUQHKLQDXVLQGLH'XQNHOKHLWGHV 0LWWHOPHHUKLPPHOV(UVDKGDV=LHOYRU$XJHQ'LH(UULFKWXQJHLQHVQHXHQ6WW]SXQNWVGHQ $XVEDXVHLQHU2UJDQLVDWLRQ(UNRQQWHPLWGHP]XIULHGHQVHLQZDVHUELVKHUHUUHLFKWKDWWH 0LWDXVODXIHQGHQ0RWRUHQVHW]WHGHU*OHLWHUDXI'LH3DUDWHQGHUYHUOLHHQLKQ(LQHUGHU 0lQQHUVFKQDOOWHVLFKHLQHQ)OXJWRUQLVWHUXP 6LHKQDFKZLHYLHOHHVVLQGXQGZLHVLHLP+DXVYHUWHLOWVLQGWUXJ0DUJRULKPDXI$FKWH GDUDXIGDZLU5RGUH\XQGGLH)UDXQLFKWLQ*HIDKUEULQJHQ0RQD.DLWHULVWXQJHKHXHU ZLFKWLJIUPLFK (UHULQQHUWHVLFKZLHGHUGLH+\SHUSK\VLNHULQGXUFK=XIDOOJHWURIIHQKDWWH(VZDUDQHLQHP $EHQGLQ7HUUDQLD&LW\JHZHVHQ=ZHL:RFKHQZDUHVKHU0LWHLQHPPDOKDWWHHUHLQH $XVVWUDKOXQJJHVSUWGLHLKQDQGLH9HUJDQJHQKHLWHULQQHUWH$QVHLQH.LQGKHLWDQGLH 3V\FKRGHDQGLH=ZRWWHU(UZDUDQGHU)UDXYRUEHLJHJDQJHQXQGKDWWHVLFKLQGLH
'XQNHOZRONHYHUVHW]WJHJODXEW 'LHVH )UDX LVW ZLFKWLJ IU PLFK ZDU VHLQ HUVWHU *HGDQNH JHZHVHQ *OHLFK]HLWLJ KDWWH LKQ HLQHXQJODXEOLFKH)DV]LQDWLRQEHUNRPPHQXQGHUKDWWHVLFKJHIUDJWZDVDQGLHVHU)UDXZDU (UPXWHHVKHUDXVEHNRPPHQ(UZDULKUJHIROJW 'LHEHLGHQVLQGLQNHLQHPGHU=LPPHUK|UWH0DUJRUEHU)XQN6LHPVVHQLP.HOOHU HLQJHVSHUUWVHLQ :LUVFKODJHQORVHQWVFKLHGGHU0XWDQW 'LH3DUDWHQGHUVFKZlUPWHQDXV6LHHLOWHQGLH7UHSSHHPSRUXQGNUHLVWHQGDV+DXVHLQ 'ULQJWLQGLH=LPPHUHLQXQGEHVHLWLJWDOOHVZDVHXFKLP:HJLVWIOVWHUWHGHU 1DFKNRPPHHLQHV9LQFUDQHUVXQGHLQHU*lDQHULQLQVHLQ$UPEDQG(UK|UWH)HQVWHUNOLUUHQ XQG6FKVVHSHLWVFKHQ*OHLFK]HLWLJDEHUYHUQDKPHUKRFKEHUVLFKHLQKHOOHV6LQJHQGDVHU VHKUJHQDXNDQQWH(VNDPYRQHLQHP3ROL]HLJOHLWHU'DV*HUlXVFKZXUGHGXUFKGLH 6FKZXQJNUHLVHOHU]HXJWZHQQGDV)DKU]HXJLQGHU/XIWVWLOOVWDQG6FKHLQZHUIHUIODPPWHQDXI XQGWDVWHWHQQDFKGHP+DXVXQGVHLQHU(LQIULHGXQJ 0DUJRUIOXFKWHXQWHUGUFNWXQGGXFNWHVLFKLQGLH(FNHGHV7RUERJHQVZRLKQGLH /LFKWVWUDKOHQQLFKWWUDIHQ,QHLQHPJQVWLJHQ$XJHQEOLFNKXVFKWHHUDQGHU0DXHUGLH6WUDH HQWODQJXQGYHUVFKZDQGDQHLQHU7UHSSHGLHQDFKXQWHQ]XP+DIHQYLHUWHOIKUWH *HIDKUIOVWHUWHHULQVHLQ0LNURIRQ=LHKWHXFK]XUFN 1LHPDQGK|UWHLKQ.HLQHUJDE$QWZRUW(UZXWHQLFKWGDVHLQH3DUDWHQGHUDXI:LGHUVWDQG JHVWRHQZDUHQ'HUJU|WH7HLOYRQLKQHQZDUGXUFKGLH/lKPZDIIHQGHU+DXVHLJHQWPHU DXHU*HIHFKWJHVHW]WZRUGHQ(UK|UWHZLHGLH3ROL]LVWHQLQGDV+DXVHLQGUDQJHQ 0DUJRUIDWHVLFKDQGHQ.RSI:LHKDWWHGDVJHVFKHKHQN|QQHQ":HUZDUGDIU YHUDQWZRUWOLFKGDGLH3ROL]HLKLHUDXIWDXFKWH"(WZD'ROSRODQ"'HU0XWDQWZDUYRQ JULPPLJHU:XWHUIOOW(UVXFKWHQDFKGHQ*HGDQNHQVHLQHV3DUDWHQGHUV*OHLFK]HLWLJDEHU EHUVFKZHPPWHQLKQHUUHJWH*HGDQNHQZRJHQ6LHWUXJHQGLH$XVVWUDKOXQJHLQHU)UDX(U VSUWHGLH1lKH0RQD.DLWHUV hEHUJDQJVORVZXWHGHU0XWDQWZDVHU]XWXQKDWWH'LHDP(LQVDW]%HWHLOLJWHQZXWHQQLFKW YLHO'HUHLQ]LJHGHU7HLOHGHU2UJDQLVDWLRQNDQQWHZDU5RGUH\GHQHUDXI0RQDDQJHVHW]W KDWWH=ZDUZXWH0DUJRUQXU]XJXWGD5RGUH\QLFKWLQGHU/DJHZDUIUHLZLOOLJHWZDV]X YHUUDWHQ$EHUZRP|JOLFKIDQGHQGLH7HUUDQHUHLQ0LWWHOGHQ%ORFN]XEUHFKHQPLWGHPHU LKQDXVJHVWDWWHWKDWWH5RGUH\PXWHVFKZHLJHQ %R\W0DUJRUNRQ]HQWULHUWHVLFKNXU](UVDPPHOWHGLHDXIJHVWDXWHQ3VL(QHUJLHQ9RQGHU (LQJDQJVWUGHV+DXVHVKHUK|UWHHU6WLPPHQ :HUVLQG6LH"IUDJWHHLQEHIHKOVJHZRKQWHU%D ,FK KHLH 6WHYHQ 6DYDOO XQG ELQ GHU %HVLW]HU GHV +DXVHV DQWZRUWHWH HLQH DXIJHUHJWH 0lQQHUVWLPPH 8QGGLHDQGHUHQKLHU"(VEHILQGHQVLFKGUHLYHUVFKLHGHQH*UXSSHQLQGLHVHP+DXVNDP GLHVFKDUIH)HVWVWHOOXQJ 'LH/HXWHPLWGHQ/lKPVWUDKOHUQVLQGPHLQH)UHXQGHHQWJHJQHWH6DYDOO'LHDQGHUHQGLH JHOlKPWLQGHQ%HWWHQOLHJHQVLQGGLH%HVHW]HUGLHVHV+DXVHV:RGLH0lQQHUXQG)UDXHQPLW GHQ,PSXOVVWUDKOHUQKHUNRPPHQZHLLFKQLFKW 'DVNOLQJWXQJODXEKDIW:DVVROOGDV*DQ]H" ,FKKDEHNHLQH$KQXQJVDJWHGHU0DQQQDPHQV6DYDOO$EHULP.HOOHUVLQGQRFK]ZHL *HIDQJHQHHLQJHVSHUUW9LHOOHLFKWZLVVHQVLHPHKU,FKELQQXUKLHUXPPHLQ(LJHQWXP]X EHUQHKPHQ %R\W0DUJRUKDQGHOWH8PNHLQHQ3UHLVGXUIWHHU5RGUH\PLWVHLQHP:LVVHQLQGLH+lQGHGHU %HK|UGHQIDOOHQODVVHQ(UVFKORGLH$XJHQNRQ]HQWULHUWHVLFKIHVWDXIVHLQHQ3DUDWHQGHU 'DQQOLHHUGLHDXIJHVWDXWHQ(QHUJLHQIUHL (UVWLHNHXFKHQGGHQ$WHPDXVXQGODXVFKWHDXIGDV(UO|VFKHQGHU$XUDGLH5RGUH\ YHUEUHLWHWH1RFKLPVHOEHQ$XJHQEOLFNHUNDQQWHHUGDHUHLQHQ)HKOHUJHPDFKWKDWWH 5RGUH\XQG0RQDZDUHQ]XVDPPHQ
%R\W0DUJRUVSUDQJDXI(UUDVWHGLH6WXIHQGHU7UHSSHHPSRU,POHW]WHQ$XJHQEOLFN EHVDQQHUVLFKXQGVWU]WHQLFKWDXIGLH6WUDHKLQDXV(UVFKOXJVLFKPLWGHUJHEDOOWHQ+DQG DQGHQ.RSI Ä,FK ELQ EHUJHVFKQDSSW³ NHXFKWH H[ XQG 6HLQH +DOVPXVNXODWXU YHUNUDPSIWH VLFK 'DV *HVLFKW YHU]HUUWH VLFK ]X HLQHU )UDW]H GHV 6FKPHU]HV 1DFK 6HNXQGHQ IDWH HU VLFK XQG ODXVFKWHLQVLFKKLQHLQ$EHUHUVSUWHQLFKWV'LH$XVVWUDKOXQJGHU)UDXZDUHUORVFKHQ 9HU]ZHLIHOWNDXHUWHVLFK%R\WDXIGHU7UHSSH]XVDPPHQ,QGLHVHQ0LQXWHQZDUHUZLHHLQ .LQG(UZHLQWH(UKDWWHGHQJU|WHQ)HKOHUVHLQHV/HEHQVEHJDQJHQ0RQD.DLWHUKlWWH]XU ZLFKWLJVWHQ3HUVRQQHEHQLKPZHUGHQN|QQHQ0LWLKUKlWWHHUGLH:HOWHUREHUW6LHKlWWH YLHOOHLFKWVRJDUHLQHQEHGHXWHQGHQ(LQIOXDXILKQDXVJHEW9RUDOOHPDEHUKDWWHVLHHWZDV YRQGHPLQVLFKJHWUDJHQZDV%R\WVLFKVHKQOLFKVWZQVFKWH,P$XJHQEOLFNLKUHV7RGHV KDWWHHUHLQHQ+DXFKGHV.|QLJVSV\FKRGVYHUVSUW :LHGHUHUNODQJHQREHQDQGHU6WUDH6WLPPHQ6LHKDWWHQGLHEHLGHQPXPLIL]LHUWHQ/HLFKHQ JHIXQGHQ'HU0XWDQWYRQ*lDVFKDOWVLFKHLQHQ1DUUHQZLHHUHLQHQVROFKHQ)HKOHUKDWWH PDFKHQN|QQHQ(UKDWWHVHLQH(QHUJLHQJHEQGHOWORVJHODVVHQDEHUQLFKWIRNXVVLHUWJHQXJ 6LHKDWWHQQLFKWQXU5RGUH\JHWURIIHQ8QGGLHDQGHUHQ3DUDWHQGHUZDUHQDOOHJHIDQJHQ $XIGHUVWHLOHQ7UHSSH]ZLVFKHQGHQ+lXVHUQGLHGLH7HUUDVVHQPLWHLQDQGHUYHUEDQGXQG ]XP+DIHQKLQDEIKUWHVDGHUNOHLQH0DQQXQGVHLQ.|USHUVFKWWHOWHVLFK'LH WUNLVIDUEHQHQ+DDUHKLQJHQLKP]HU]DXVWLQGLH6WLUQ'LH/LSSHQYLEULHUWHQGLHJURHQ EODXHQ$XJHQODJHQVWXPSILQLKUHQ+|KOHQ'LHVHU0DQQKDWWHVRHEHQVHLQ6FKLFNVDOPLW )HQJHWUHWHQ(UKDWWHHLQHQ7HLOGHU=XNXQIW]HUVW|UW6HLQHU=XNXQIW %R\W0DUJRUUlXPWHGDV)HOG(UJLQJ]XP+DIHQVFKLIIWHVLFKHLQ9RQ%RUGDXVVSUHQJWH HUGHQ*OHLWHULQGLH/XIWPLWGHP VLHJHNRPPHQZDUHQ'DV)XQNJHUlWZDUIHUDQVFKOLHHQG EHU GLH 5HOLQJ 8QHUNDQQW NHKUWH HU QDFK $WKHQ ]XUFN ZR HU VLFK DQ GHQ $XVEDX VHLQHU =HQWUDOHPDFKHQZROOWH (UGDFKWHDQ7LIILRUXQGGLH3ODNDWHGLHEHUDOOKLQJHQ(UEHOlFKHOWHGHQ(UVWHQ7HUUDQHUGHU PLWVHLQHQ3DUROHQNHLQHQ(UIROJKDEHQZUGH'LH(UGHZDUGLHDOWHXQGGLH0HQVFKHQ ZDUHQGLHDOWHQ'HUHLQ]LJHGHULKUHUVFKOLHOLFK+HUUZHUGHQNRQQWHZDUHU%R\W0DUJRU
:HJLQGLH8QHQGOLFKNHLW
=ZHLWDXVHQG0HQVFKHQVWDQGHQDXIGHPWUEHQ8QWHUJUXQGGHV5DXPKDIHQVXQGZDUWHWHQ GDVLHLQGDV6FKLIIJHODVVHQZXUGHQ)UYLHOHYRQLKQHQZDUHVHLQVFKPHU]KDIWHU$EVFKLHG YHUEXQGHQPLWWUDXULJHQ*HGDQNHQ1XUZHQLJHQJHODQJHVGDVZDVVLHHPSIDQGHQVR]X XQWHUGUFNHQGDHVVLHQLFKWVRDUJPLWQDKP%HLLKQHQVWHOOWHVLFKGHU.DW]HQMDPPHUVSlWHU HLQ (QGOLFK QDFK ODQJHU :DUWH]HLW |IIQHWH VLFK HLQH ULHVLJH 6FKOHXVH (LQ HUOHXFKWHWHU *DQJ ZXUGHVLFKWEDU,P6FKOHXVHQUDXPVWDQGHQ]ZHL5RERWHUXQGZDUWHWHQUHJXQJVORVGDUDXIGD GLH0HQVFKHQGDV6FKLIIEHWUDWHQ 'DJHVFKDKGDV6HOWVDPH'LHDPQlFKVWHQVWDQGHQZROOWHQQLFKWJHKHQ6LHZROOWHQQLFKW GLHHUVWHQVHLQGLHGLH+HLPDWIULPPHUYHUOLHHQ$EHUGLHGLHZHLWHUKLQWHQVWDQGHQ EHJDQQHQ]XGUlQJHQ2KQHGDVLHHVZROOWHQZXUGHQGLH9RUGHUVWHQEHUGLHJHOEH0DU NLHUXQJJHGUFNWXQGVFKZHEWHQGHP=XJGHVNQVWOLFKHQ6FKZHUHIHOGHVIROJHQG]XGHU 6FKOHXVHKLQDXI'DV5DXPVFKLIIEHJDQQVLFK]XIOOHQ'DVZDUGHU$XIEUXFK 2JHOODQVFKDOWHWHGHQ3URMHNWRUDEPLWGHPHUGLH)LOPDXVVFKQLWWH]XVHLQHP.RPPHQWDU YRUJHIKUWKDWWH(UGUFNWHHLQHQDQGHUHQ.QRSIXQGHLQULHVLJHV+RORJUDPPHUVFKLHQLQGHU +DOOHLQGHU2JHOODQVHLQHQ8QWHUULFKWKLHOW(V]HLJWHHLQJHZDOWLJHVKDQWHOI|UPLJHV *HELOGHGDVLP/LFKWHLQHUQDKHVWHKHQGHQ6RQQHLQKHOOURWHQXQGEODEODXHQ7|QHQ
VFKLPPHUWH 'LH62/6HKWQXUVRVLHKWGLH62/DXVGHP:HOWUDXPDXVULHIHQGQQH.LQGHUVWLPPHQ 'LHNOHLQHUHQXQWHUGHQ=XK|UHUQEOLFNWHQIDV]LQLHUWDXIGDV6FKLIIGDVZLHHLQ 0LQLDWXUPRGHOOPLWWHQLQGHU+DOOHKLQJ'LHPHLVWHQHUKREHQVLFKYRQGHU3ODWWIRUPDXIGHU VLHVDHQXQGJLQJHQDQLKUHP5DQGXPGLH3URMHNWLRQKHUXP6LHEHWUDFKWHWHQGDV6FKLII YRQDOOHQ6HLWHQ -DGDVLVWXQVHUH+HLPDWHUNODQJZLHGHUGLH6WLPPHLKUHV/HKUHUV'LH+HLPDWPLWGHU ZLUEDOGGDV:HOWDOOGXUFKHLOHQZHUGHQZLHHLQ.RPHWGHUDQNHLQH6RQQHJHEXQGHQLVW 6HLQH6WLPPHZXUGHJHGl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lFKHHLQHV 3ODQHWHQ 6LH ZROOWHQ HV QLFKW XQG ZHQQ PDQ VLH GD]X EHZHJHQ ZROOWH ZHLJHUWHQ VLH VLFK 'DVZDUGLH*HEXUWGHVVRODQLVFKHQ9RONHV (VZXUGHKHOOLQGHUJURHQ3URMHNWLRQVKDOOH2JHOODQHUKREVLFKYRQVHLQHP3ODW]DP 0LNURIRQXQGVDKOlFKHOQGDXIGLH.LQGHUKLQDE0LWJURHQ$XJHQKLQJHQVLHDQVHLQHP 0XQG9LHOHYRQLKQHQNDQQWHHUPLW1DPHQ,KU*HVWDOWHQUHLFKWXPIDV]LQLHUWHLKQ,QLKQHQ VDKHUHLQH*HQHUDWLRQGLHVSlWHUPLWYROOHP5HFKWGHQ1DPHQ6RODQHUWUDJHQZUGH 'LH PHLVWHQ ZDUHQ ZLH DQGHUH PHQVFKOLFKH .LQGHU DXFK $EHU ZHQQ 2JHOODQ LQ GLH 9HUJDQJHQKHLW ]XUFNEOLFNWH GDQQ VWHOOWH HU IHVW GD GLH GXUFK (LQIOVVH GHV :HOWUDXPV HQWVWDQGHQHQ$XVQDKPHQLPPHUPHKUZXUGH(UVDK.HOOLJRUQXQWHUGHQ.LQGHUQ(VZDUHLQ ]Z|OIMlKULJHV0lGFKHQKRFKDXIJHVFKRVVHQPLWGUUHQbUPFKHQXQG%HLQFKHQDEHUHLQHP DXIJHEOlKWHQ .|USHU GHU HLQ ZHQLJ EOlXOLFK VFKLPPHUWH IDVW ZLH GLH 62/ .HOOLJRUQ ZDU Y|OOLJ JHVXQG 'LH 9HUlQGHUXQJHQ GHV .|USHUV ZDUHQ QLFKW DXI QHJDWLYH (QWZLFNOXQJ GHV *HQPDWHULDOV]XUFN]XIKUHQ 2JHOODQZDUVWRO]ZHQQHU.LQGHUZLH.HOOLJRUQRGHU0DO]DGDQVDKGHUPLWVHLQHQEUHLWHQ +DQGIOlFKHQXQGVHLQHPVSLW]HQ.RSIZLHHLQ)LVFKDXVVDKGHUVWHWLJLP:DVVHUVFKZDPP 6LH]HLJWHQLKPLQDOOHU'HXWOLFKNHLW GDGLH6RODQHUGDEHLZDUHQHLQHSRVLWLYH0XWDWLRQ GXUFK]XPDFKHQDQGHUHQ(QGHHLQQHXHV9RONVWDQG6RJHVHKHQZDUHQGLH6RODQHUGHV -DKUHVXQIHUWLJHLQ=ZLVFKHQVWDGLXP 2JHOODQGHQVLHEHUDOOQXUGHQ(U]lKOHUQDQQWHQHULQQHUWHVLFKDQGHQ%HJLQQ-DKUH QDFKGHP$XIEUXFKGHV6FKLIIHVYRQGHU(UGHKDWWHHVGLHHUVWHQGHXWOLFKHQ=HLFKHQIUGLH QHXH(QWZLFNOXQJJHJHEHQ'LH(PUDGGLQ.LQGHUZDUHQLQGDV5DPSHQOLFKWJHUFNWGHU 'LPHQVLRQVJlQJHU8OWXUSI(PUDGGLQXQGGHU(3,,QGRNWULQDWRU.MLGGHU(PUDGGLQ(VZDUHQ VFKHXOLFKH%HJULIIHIDQGGHU(U]lKOHUGLHGLH)lKLJNHLWHQGHUEHLGHQ.LQGHUEHVFKULHEHQ 6LHVWDPPWHQYRQHLQHP:LVVHQVFKDIWOHUYRP6SUHFKHUDOOHU6RODQHU-RVFDQ+HOLPXW ,FKP|FKWHGLH62/YRQDXHQVHKHQZLHVLHZLUNOLFKLVWULHIHLQNOHLQHU-XQJH :LU ZHUGHQ HLQHQ $XVIOXJ XQWHUQHKPHQ PLW HLQHP %HLERRW VREDOG GHU +\SHUUDXPIOXJ EHHQGHWLVWDQWZRUWHWH2JHOODQ*DYUR
HVOHLFKWILQGHQGLH:HJZHLVHUVLQGEHUHLWVDQJHEUDFKW -XEHOEUDQGHWHDXI'LH.LQGHUWURPPHOWHQEHJHLVWHUWPLWGHQ)HQDXIGHQ%RGHQ)UKHU KDWWH PDQ VLH ]XP $QVFKDXXQJVXQWHUULFKW LPPHU LQ GLH 6RODULHQ RGHU 7HUUDULHQ JHVFKOHSSW ZR VLH VLFK EHUKDXSW QLFKW ZRKO IKOWHQ -HW]W ZDU GDV HUVWH 6WHOODULXP IHUWLJ GDV DXI $QZHLVXQJ*DYUR
'LH(UGHLVWHLQIHUQHU6WHUQ XQVHU2SDKDWVLHJHUQ 'RUWVROOHQWDXVHQG%lXPHEOK Q 6(1(&$EULQJ XQVHLQPDOKLQ /DXWHU6WHUQHEHUDOO IOLHJWGLH62/MHW]WGXUFKGDV$OO GXUFKVWUHLIWHZLJH:HLWHQ 'DV6FKLFNVDOZLUGVLHOHLWHQ
(LQHV7DJHVZLUGGLHHUVWH6WURSKHZHJIDOOHQ'LH0HQVFKHQDQ%RUGZHUGHQVLHQLFKWPHKU VLQJHQZHLOGLH(UGHIUVLH]XHLQHU/HJHQGHJHZRUGHQLVWEHUOHJWH2JHOODQZlKUHQGGLa .LQGHU EHJHLVWHUW LQ VHLQHQ *HVDQJ HLQVWLPPWHQ 1LHPDQG ZLUG /XVW YHUVSUHQ GLH (UGH RGHUHLQHQDQGHUHQ3ODQHWHQDQ]XIOLHJHQ 2JHOODQYHUOLHGLH+DOOHQDFKGHPGDV/LHGEHHQGHWZDU(LQH7UDXEHYRQ.LQGHUQIROJWH LKP(LQ0lGFKHQWULSSHOWHKHUEHLXQGGUlQJWHVLFKDQVHLQH6HLWH 0HLQ2SDLVWGDPDOVDXIGHU(UGHJHEOLHEHQVDJWHHV,FKP|FKWHDXFKHLQPDO]XU(UGH IOLHJHQ$EHUPHLQ%UXGHULVWGDJHJHQ 'XELVW6WHUQIHXHU QLFKWZDKU"IUDJWH2JHOODQIUHXQGOLFK'DV0lGFKHQQLFNWH1XQLFK ZHLQLFKWREXQVHU6FKLIIMHPDOVZLHGHUGLH(UGHHUUHLFKHQZLUG3HUU\5KRGDQKDW%DUGLRF PLWGHU.DLVHULQYRQ7KHUPYHUHLQWXQGIOLHJWJHJHQZlUWLJGHQ6WDQGRUWHLQHVVRJHQDQQWHQ 6SRUHQVFKLIIVDQ (UVDKGDV:DVVHULQGHQ$XJHQGHV0lGFKHQVDEHUHU]RJQXUYRUEHUJHKHQGH6FKOVVH GDUDXV ,FKJODXEHHVQLFKWEHNUlIWLJWHHU 2JHOODQNRQQWHQLFKWDKQHQGDHUHLQHQVFKZHUZLHJHQGHQ)HKOHUJHPDFKWKDWWH(UZXWH QLFKWVEHU6WHUQIHXHU'D6WHUQIHXHUYRQGLHVHP$XJHQEOLFNLQ HLQH.ULVHKLQHLQWULHEHUIXKUHUHUVWYLHOVSlWHUGXUFK=XIDOO$EHUGDZDUGLH62/EHUHLWVDXI LKUHPQHXHQ:HJ ,P]\OLQGULVFKHQ+DXSWWHLOGHV6FKLIIHVVWDQGHLQ0DQQDXIGHP*DQJ]XU=HQWUDOHXQG XQWHUKLHOWVLFKPLW]ZHL5RERWHUQGLHHLQDQGHUDXIGDV+DDUJOLFKHQ'HU0DQQZDU-DKUH DOWXQGJHK|UWH]XUHUVWHQ*HQHUDWLRQGHU6ROJHERUHQHQ(UZDUHLQ-DKUQDFK5KRGDQV)OXFKW YRUGHQ$SKLOLNHUQ]XU:HOWJHNRPPHQ(UZDUGLUHNWHU1DFKIDKUHGHU0HQVFKHQYRQ &DUUHQWV)RUWXQG6SUHFKHUGHU6ROJHERUHQHQ
'LHEHLGHQ5RERWHUYRULKPZDUHQ]ZHL0HWHUIQI]LJJURPLWNDVWHQI|UPLJHQ.|USHUQ GQQHQ$UPHQXQG%HLQHQHLQHPNXU]HQEHZHJOLFKHQ+DOVXQGHLQHPYLHUHFNLJHQ.RSILQ GHP]ZHLURWH$XJHQJOKWHQhEHUDOODP5XPSIGHU5RERWHUZDUHQNOHLQH/DPSHQYHUWHLOW ,KUH1DPHQZDUHQ5RPHRXQG-XOLD *DYUR
JHlQGHUWKDWWH:DVJHEOLHEHQZDUZDUVHLQ9HUKlOWQLV]XVHLQHQ.LQGHUQ]X6(1(&$XQG 5RPHRXQG-XOLDGHPXQ]HUWUHQQOLFKHQ5RERWHUSlUFKHQ(UIKOWHVLFKQRFKLPPHUDOVLKU 9DWHU 0DQFKPDOKDWWH-RVFDQGHQ:XQVFKDOOHLQ]XVHLQRKQHGLH9HUDQWZRUWXQJGLHLKPDOV 9HUPLWWOHU]ZLVFKHQ%HVDW]XQJXQG6FKLIIVIKUXQJ]XNDP'DQQEHGDXHUWHHUHVGLH 9HUDQWZRUWXQJDQJHQRPPHQ]XKDEHQGLHLKPVFKRQRIW*HZLVVHQVELVVHXQGSHUV|QOLFKH 3UREOHPHEHUHLWHWKDWWH,PPHUZHQQHULQGLHXQHUJUQGOLFKWLHIHQ$XJHQ3HUU\5KRGDQV EOLFNWHZXUGHVLFKGLHVHU7DWVDFKHYHUVWlUNWEHZXWGDHU]ZLVFKHQGHQ6WKOHQVD 'XUFKVHLQ8QWHUQHKPHQ$WODQ]XEHVlQIWLJHQGHU5KRGDQIUHLQHQ9HUUlWHUJHKDOWHQKDWWH GXUFKVHLQHQ)OXJ]XU'(0(7(5ZDUHV+HOOPXWJHOXQJHQGLHP|JOLFKH=HUVW|UXQJGHU 62/]XYHUKLQGHUQ6HLQ$QVHKHQZDUGDGXUFKVRVWDUNJHVWLHJHQGDHUVSRQWDQ]XP 6SUHFKHUJHZlKOWZRUGHQZDU-HW]WGURKWHLKP
'LH 62/ ZDU DXI GHP :HJ ]XU *DOD[LV 7VFKXVFKLN GHUHQ .RRUGLQDWHQ 3HUU\ 5KRGDQ YRQ %DUGLRF HUKDOWHQ KDWWH 5KRGDQ VROOWH GRUW GDV 6SRUHQVFKLII GHV HKHPDOLJHQ 0lFKWLJHQ DXIVXFKHQXQGVLFKGDUXPNPPHUQGDHVQLFKWLQIDOVFKH+lQGHJHULHW 'HU0DQQGHVVHQ3HUVRQVRHQJPLWGHP6FKLFNVDOGHUJHVDPWHQ0HQVFKKHLWYHUNQSIWZDU VWDQGKRFKDXIJHULFKWHWLQGHU=HQWUDOHLP0LWWHOWHLOGHV6FKLIIHV6HLQHJUDXHQ$XJHQZDUHQ ZHLWJH|IIQHWXQGLQGLH)HUQHJHULFKWHW8QEHZHJWPXVWHUWHQVLHGLH6FKOLHUHQGHV +\SHUUDXPVGLHEHUGLH%LOGVFKLUPH]RJHQ6WUDIIMHGHQ0XVNHOXQWHU.RQWUROOHGLH$UPH HQJDP.|USHUKHUDEKlQJHQGXQGGLH+lQGHOHLFKWQDFKLQQHQJHZLQNHOWELOGHWHGHU HKHPDOLJH*URDGPLQLVWUDWRUGHV6RODUHQ,PSHULXPVGHQUXKHQGHQ3ROLQGHUURXWLQHPlLJHQ *HVFKlIWLJNHLWGLHZlKUHQGGHV)OXJHVKHUUVFKWH1LHPDQGJHWUDXWHVLFKGHQ0DQQLQVHLQHU %HVFKDXOLFKNHLW]XVW|UHQGHULQVHLQHPEHUVHFK]HKQ-DKUKXQGHUWHGDXHUQGHQ/HEHQPHKU JHOHLVWHWKDWWHDOVJDQ]H*HQHUDWLRQHQYRULKP $P+DXSWHLQJDQJGHU=HQWUDOHHQWVWDQG8QUXKH(LQ0DQQNDPKHUHLQ(UWUXJGLHEOLFKH %RUGNRPELQDWLRQGHQQ8QLIRUPHQJDEHVDQ%RUGGHU62/VFKRQODQJHQLFKWPHKU$OVHU 3HUU\5KRGDQVRXQEHZHJWGDVWHKHQVDKYHUKLHOWHUVHLQHQ6FKULWWXQGZDUIHLQHQ HQWVFKXOGLJHQGHQ%OLFN]XGHQEHLGHQ0lQQHUQGLHLKQQLFKW]X5KRGDQKDWWHQYRUODVVHQ ZROOHQ(LQH9LHUWHOVWXQGHYHUJLQJ
(QGOLFK EHZHJWH VLFK GHU .RPPDQGDQW GHU 62/ 6HLQH 6FKXOWHUQ VDQNHQ HLQ ZHQLJ KHUDE VHLQ *HLVW NHKUWH ]XUFN LQ GLH :LUNOLFKNHLW RKQH GLH 0HQVFKHQ XP LKQ KHUXP PHUNHQ ]X ODVVHQLQZHOFKHQ)HUQHQGHU=XNXQIWRGHU9HUJDQJHQKHLWHUJHZHLOWKDWWH 6LU 3HUU\5KRGDQZDQGWHVLFKQDFKGHP5XIHUXP6HLQ*HVLFKWHQWVSDQQWHVLFK(UOlFKHOWH +DOOR-RVFDQWZRUWHWHHU:DVKDEHQ6LHDXIGHP+HU]HQ" 5KRGDQV0XQGZLQNHO]XFNWHQOHLFKWDOVHUGDUDQGDFKWHGDGLH6RODQHUXQG(UGJHERUHQHQ VLFK LPPHU |IWHU PLW GHP GLVWDQ]LHUWHQ 6LH EHJHJQHWHQ =X %HJLQQ GHU ODQJHQ 5HLVH GHV 6FKLIIHV KDWWH VLFK GDV YHUWUDXOLFKH 'X HLQJHEUJHUW (V ZXUGH QLFKW QXU YRQ GHU 6FKLIIVIKUXQJYHUZHQGHWVRQGHUQKLHOWEDOGDXFK(LQ]XJLQDOOHQ%HUHLFKHQGHU%HVDW]XQJ 0LW%HJLQQGHU%HZXWZHUGXQJGHU6RODQHUDEHUXQGGHUIROJHQGHQ'LVWDQ]LHUXQJGLHYRQ YLHOHQ 0LYHUVWlQGQLVVHQ XQG EHZXWHQ 3URYRNDWLRQHQ DXI EHLGHQ 6HLWHQ EHJOHLWHW ZDU JULIIHQLPPHUPHKU0HQVFKHQ]XGHUXQSHUV|QOLFKHQ$QUHGH8QWHUEHZXWZDUGHU9RUJDQJ 6SLHJHO HLQHU (QWZLFNOXQJ GLH GLH EHLGHQ *UXSSHQ LP 6FKLII LPPHU ZHLWHU DXVHLQDQGHUEUDFKWH ,FKPXHV,KQHQVDJHQEHJDQQ-RVFDQ+HLOPXW*DYUR
+HLOPXWQLFNWH ,FKZHUGHWXQZDVLQPHLQHQ.UlIWHQVWHKWVDJWHHU'DQQYHUOLHHUGLH=HQWUDOHXP]XU 6=OKLQEHU]XJHKHQZRHU*DYUR
'LH 0XVLN GXUFKGULQJW PLFK XQG OlW PHLQH .|USHUIDVHUQ HU]LWWHUQ IOVWHUWH HU ,FK VSUHGDHVEDOGVRZHLWLVW'DQQZLUGGLH62/XQVJHK|UHQ :DVZLOOVWGXWXQ*DYUR"IUDJWH/HUVFK%RQW\VHLQ$VWURSK\VLNHU :LU ZHUGHQ GDV WXQ ZDV ZLU EHVSURFKHQ KDEHQ DQWZRUWHWH
$P-XOLQlKHUWHVLFKGLH62/GHU%$6,6XQGJLQJOlQJVVHLWV'LH$XIILQGXQJGHV JU|WHQ 6FKLIIHV GDV MH YRQ 0HQVFKHQ JHEDXW ZRUGHQ ZDU VFKXI HLQH QHXH 6LWXDWLRQ XQG YLHOHGLHELVKHUGHQ7DWHQ*DYUR
8QGZDVZLUVWGXMHW]WWXQPHLQ6RKQ"/DUHHQDOlFKHOWHQDFKVLFKWLJ'DVNLQGOLFKH%DQG YRQ=XQHLJXQJYRQ(PSIDQJHQXQG*HEHQ]ZLVFKHQLKUXQG%MRZDUHUQHXHUWZRUGHQ6LH VSUWHHVREZRKO%MRLQGHQYLHU-DKUHQUHLIHUXQGHUZDFKVHQHUJHZRUGHQZDU'DPDOVZDUHU MD QRFK HLQ .LQG JHZHVHQ DQKlQJOLFKHU XQG VHLQHU 0XWWHU HQJHU YHUEXQGHQ DOV DQGHUH .LQGHUVHLQHV$OWHUVLKUHQ(OWHUQYHUEXQGHQZDUHQ:LUVWGX*DYUR
XQG)HQGDJHJHQJHZHKUWGHQ.LQGHUQHLQIDOVFKHV:HOWELOGYRQGHQ0HQVFKHQXQGGHU (UGH]XYHUPLWWHOQZLHHVGLHDQGHUHQ/HKUHUWDWHQ,PPHUKlXILJHUZDUHUYRUGLH6LWXDWLRQ JHVWHOOWHQWZHGHUHWZDV]XYHUVFKZHLJHQRGHUJHJHQGLH$QRUGQXQJHQ
2JHOODQV LQ VHLQHP 5FNHQ :lKUHQG GHU /HKUHU GHQ 8QWHUULFKW ZHLWHUIKUWH VFKULWW
*OHLFKHUPDHQZDUHQGLH0HQVFKHQDXIGHU%$6,6JHVSDQQWGDUDXIZDVGDYRQGHU62/ DXI VLH ]XNRPPHQ ZUGH 6WLPXOLHUW GXUFK GLH LQ (LQ]HOIlOOHQ IHLQGOLFKH %HKDQGOXQJ GXUFK GLH 6RODQHU HQWVWDQG VRIRUW HLQ KHU]OLFKHV 9HUKlOWQLV ]ZLVFKHQ GHQ EHLGHQ *UXSSHQ 1DFK ZHQLJHQ 7DJHQ XQG :RFKHQ ZDUHQ GLH $OWWHUUDQHU YROO LQ GLH %$6,6 LQWHJULHUW 'LH hEHUVLHGOHUEHJDQQHQ]XHU]lKOHQXQGGLH$XIHQWKDOWVUlXPHXQG0HVVHQGLH,QGHU%$6,6 DXI*UXQGLKUHUXQWHUVFKLHGOLFKHQ*UDYLWDWLRQVIHOGHUYLHOZHLWUlXPLJHUDQJHOHJWZDUHQDOVLP *HQHUDWLRQHQVFKLIIZDUHQLPPHUYROOEHVHW]W9LHOHVZDVGLH0HQVFKHQEHUGLH62/EHULFK WHWHQNODQJIUHPGDUWLJ(VZDUNDXP]XJODXEHQGDGLH1DFKIDKUHQGHU0HQVFKHQDXVGHP 5DXPIRUW XQG MHQHU ZHQLJHQ GLH PLW 5KRGDQ GLH (UGH YHUODVVHQ KDWWHQ HLQH VROFKH (QWZLFNOXQJGXUFKJHPDFKWKDWWHQ 'DQQ DEHU NDPHQ GLH HUVWHQ RIIL]LHOOHQ %HULFKWH GHU ELVKHULJHQ 62/)KUXQJ XQG GLH (VSHUEHULFKWH GHU 0XWDQWHQ GLH LKUH hEHUZDFKXQJ RKQH $XIWUDJ MHW]W YRQ GHU =HQWUDOH GHU %$6,6DXVGXUFKIKUWHQ 'DPLW GLH 6ROJHERUHQHQ QLFKW DXI GLH GXPPH ,GHH NRPPHQ PLW GHP 6FKLII ]X YHUGXIWHQ ZlKUHQG3HUU\VLFKLQGHU3$17+$85$DXIKlOWHUNOlUWH*XFN\ODNRQLVFK $EHU HV WDW VLFK QLFKWV DXI GHU 62/ /HGLJOLFK %XOO\ XQG .DQWKDOO EHULFKWHWHQ PLW GHU =HLW GD GLH 8PEDXWHQ YROO LP *DQJ ZDUHQ 'LH 6RODQHU EHJDQQHQ )HVWH ]X IHLHUQ XQG *HODJH DE]XKDOWHQEHLGHQHQVLHGLH9RUUlWHDQQDWUOLFKHQ/HEHQVPLWWHOQYHU]HKUWHQ 8QGQRFKHWZDVJDEHV(LQH$UWVWLOOHU(XSKRULHPDFKWHVLFKLQGHP+DQWHOUDXPHUEUHLW-H PHKUVLH]XQDKPGHVWRJU|HUZXUGHGDV0LWUDXHQGDVPDQGHQOHW]WHQEHLGHQ7HUUDQHUQ HQWJHJHQEUDFKWHGLHDQ%RUGZDUHQ (V LVW EHVVHU ZLU ]LHKHQ XQV ]XUFN PHLQWH -HQWKR .DQWKDOO %XOO\ ZLGHUVSUDFK LKP (U ZROOWH GLH 6WHOOXQJ ELV ]XU 5FNNHKU 5KRGDQV KDOWHQ 6LH EOLHEHQ XQG YHUIROJWHQ GLH (QWZLFNOXQJZHLWHU-HPDQGEHWULHE6DERWDJHXQGGLHEHLGHQ7HUUDQHUXQG'RXF/DQJXUJH ULHWHQ DEZHFKVHOQG LQ 9HUGDFKW %HZHLVH GD GLH 7HUUDQHU VLFK ZlKUHQG GHU $WWHQWDWH GLH JDQ]H =HLW LQ GHU =HQWUDOH DXIJHKDOWHQ KDWWHQ ]lKOWHQ EHL GHQ 6RODQHUQ QLFKW 'LH 6LWXDWLRQ HVNDOLHUWHHUQHXW(UVW,UPLQD.RWVFKLVWRZDJHODQJHVGHQSV\FKLVFKHQ.QDFNV6WHUQIHXHUV]X EHVHLWLJHQGLHHLQHXQEHZXWH0XWDQWLQZDURKQHHV]XZLVVHQ 5XKLJZXUGHQGLH6RODQHUHUVWDOV%XOOXQG.DQWKDOOHEHQIDOOV]XU%$6,6ZHFKVHOWHQ0DQ ZDUIVLHKLQDXVXQG-RVFDQ+HOOPXWGHU,KQHQGLH$XIIRUGHUXQJEHUEUDFKWHPDFKWHGDEHL NHLQHDOO]XJOFNOLFKH)LJXU 7URW]DOOHPPDFKWHQVLFKGLH0HQVFKHQLQGHU%$6,66RUJHQXPGLH=XNXQIWGHU6RODQHU (V JLEW NHLQH (QWZLFNOXQJ DXI ZLVVHQVFKDIWOLFKHQ *HELHW GUEHQ HUNOlUWH %XOO\ 3D\QH +DPLOOHU'LH6RODQHUEHVLW]HQDOOHV:LVVHQGDVVLHEHQ|WLJHQXPGDV6FKLII]XIOLHJHQXQG 5HSDUDWXUHQ ]X PDFKHQ ZR Q|WLJ VLQG $EHU GLH ZLVVHQVFKDIWOLFKH )RUVFKXQJ LVW HLQJHVFKODIHQ*DYUR
$OV *DYUR
DXIJHEURFKHQ XQG NHLQHU KDWWH JHZXW ZLH ODQJH HV GDXHUQ ZUGH ELV GLH KHLPDWOLFKH *DOD[LVJHIXQGHQZDUQDFKGHPGLH$SKLOLNHULKUH.RRUGLQDWHQJHO|VFKWKDWWHQ 'DV 6FKLII ZDU YRQ $EHQWHXHU ]X $EHQWHXHU JHIORJHQ GLH HUVWHQ $Q]HLFKHQ GHU EHJLQQHQGHQ (QWZLFNOXQJ KDWWHQ VLFK LQ GHQ (PUDGGLQ.LQGHUQ XQG GHQ .LQGHUQ GHU 8QHQGOLFKNHLWDEJH]HLFKQHWGHQHQVRJDUGLH.HORVNHUJHKRUFKWKDWWHQ,PPHUZLHGHUZDUHV ]X $XVHLQDQGHUVHW]XQJHQ PLW UDGLNDOHQ 6RODQHUQ JHNRPPHQ ELV ]XP KHXWLJHQ 7DJ 'HU OHW]WH6FKULWWZDUQXQXQXPJlQJOLFK'LH6RODQHUZROOWHQ,KU3DUDGLHVYRQGHP*DYUR
%MR%UHLVNROOVSUDQJPLWHLQHP6DW]DXIhEHUUDVFKWOLHVHLQHa0XWWHUGLH$UPHVLQNHQ :DVKDVWGX%MR"IUDJWHVLH /DQJVDP VDQN GHU .DW]HU LQ GHQ 6HVVHO ]XUFN LQ GHP HU JHVHVVHQ KDWWH 6HLQH $XJHQ EHZHJWHQVLFKXQUXKLJKLQXQGKHU'DQQDEHUEHUXKLJWHHUVLFK 3HUU\ LVW LQ 6FKZLHULJNHLWHQ VDJWH HU EHLOlXILJ 1DFK HLQHU 9LHUWHOVWXQGH HUKRE HU VLFK HUQHXWXQGYHUOLHGLH:RKQXQJVHLQHU0XWWHU(UVXFKWH-RVHDQ+HOOPXWDXI :LUKDEHQXQVODQJHQLFKWJHVHKHQ-RVFDQVDJWH%MR:LHJHKWHVGLU" +HOOPXW ZDUI HLQHQ OLHEHYROOHQ 6HLWHQEOLFN DXI 5RPHR XQG -XOLD GLH EHZHJXQJVORV DQ GHU :DQG GHV =LPPHUV VWDQGHQ %MR VSUWH GD GHU .\EHUQHWLNHU =XIOXFKW LQ VHLQHU $UEHLW JHVXFKWKDWWH(UZDUYRUGHQ(UHLJQLVVHQJHIORKHQ Ä:LU PVVHQ 5KRGDQ KHOIHQ (U LVW LQ 6FKZLHULJNHLWHQ ,FK P|FKWH QLFKW GD LKP HWZDV JHVFKLHKWVSUXGHOWHGHU.DW]HUKHUYRU+HOOPXWVDK,KQGXUFKGULQJHQGDQ (V LVW EHVVHU ZHQQ DOOHV VFKQHOO DEOlXIW DQWZRUWHWH HU ,FK NDQQ HV QLFKW PHKU ODQJH HUWUDJHQ5KRGDQVROOGLH62/EHUJHEHQXQGYHUVFKZLQGHQ (VIlOOWLKPVFKZHUVLFKYRQGLHVHP6FKLII]XWUHQQHQREZRKOHUGHQ:LOOHQKDWVDJWH %MR8QGHUPXZDUWHQELVHVVRZHLWLVW 'DV:HOWUDXPEDE\KDWWHLFKY|OOLJYHUJHVVHQJHVWDQG+HOOPXW:DVVROOHQZLUWXQ"
VHLW5KRGDQDQ%RUGLVWEHJHJQHWPDQLKPEHUDOOPLW0LWUDXHQ.DQQ*DYURGDVQLFKW lQGHUQ" (U LVW VHOEVW PLWUDXLVFK XQG EHREDFKWHW MHGHQ 6FKULWW GHQ 5KRGDQ WXW $XHUGHP KDW HU WHLOZHLVH GLH .RQWUROOH EHU GLH (UHLJQLVVH YHUORUHQ ,FK KRIIH GD GLH hEHUJDEH HUIROJW EHYRUHV]X=ZLVFKHQIlOOHQNRPPW 'DQQEOHLEWQXUQRFKHLQH0|JOLFKNHLWEHUOHJWHGHU.DW]HU'HU)RUVFKHUGHU.DLVHULQ 'RXF/DQJXUVROO5KRGDQEHZDFKHQGDPLWLKPQLFKWVJHVFKLHKW +HOOPXWGDFKWHDQGLH9RUZUIHGLHHUVLFKYRQ
)UHXQGHULHI*DYUR
VFKZLHULJH9HUPLWWOHUUROOH]ZLVFKHQ6RODQHUQXQG7HUUDQHUQZDUIULKQ]X(QGH(UZDUIURK GDUEHU +HOOPXWHUNOlUWHGHQ6RODQHUQLQUXKLJHQ:RUWHQZDVDOOHVJHVFKHKHQZDUZLHHVNDPXQG ZDUXPHVNDPZHOFKHVGLH*UQGHZDUHQGLHGLHhEHUJDEHKLQDXVJH]|JHUWKDWWHQ(UZXWH GD GLH PHLVWHQ 0HQVFKHQ DQ %RUG NHLQ 9HUVWlQGQLV GDIU KDWWHQ DEHU GLH UXKLJH 6WLPPH PLWGHUHUVSUDFKYHUPLWWHOWHLKQHQGDDOOHVJXWZDU'LHHXSKRULVFKH6WLPPXQJGLHVLHLQ GHP :LUEHO GHU OHW]WHQ 6WXQGHQ HWZDV YHUORUHQ KDWWHQ NHKUWH ]XUFN 0LW YHUNOlUWHQ *HVLFKWHUQVWDUUWHQVLHDXIGLH%LOGVFKLUPHGLHGLH=HQWUDOH]HLJWHQ6LHGDFKWHQDQGDV.LQG +HOPD%XKUORVXQGK|UWHQZLH-RVFDQ+HLOPXWIHLHUOLFKVDJWH
+LHUPLWWUHWHLFKYRQPHLQHP$PWDOV6SUHFKHU]XUFNa'LH9RUDXVVHW]XQJHQIUGLH:DKO HLQHU6FKLIIVIKUXQJVLQGJHVFKDIIHQ %HYRU-RVFZLH3HUU\5KRGDQLKQLPPHUJHQDQQWKDWWHGLH=HQWUDOHYHUOLHGUFNWH*DYUR
+HOOPXW YHUQHLQWH ODFKHQG XQG YHUDEVFKLHGHWH VLFK (U ZXWH MHW]W GD GLH 6RODQHU GHQ ULFKWLJHQ:HJJLQJHQ
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lKUHQG DQ DOOHQ 6HLWHQ *DOD[LHQYRUEHLZDQGHUWHQ ,UJHQGZDQQK|UWHGLH)OXFKWEHZHJXQJDXI6LHGUHKWHVLFKGLH*DOD[LHQNDPHQDXI%MR]X HLQH LQ GHU 0LWWH ZXUGH LPPHU JU|HU ELV VLH GLH DQGHUHQ YHUGUlQJW KDWWH 'LH *DOD[LV EHUVWU|PWHGLHJHVDPWH.XSSHOVSDOWHWHVLFKDXILQLKUH$UPHXQGELOGHWHVFKOLHOLFKHLQH 6DDWDXVNOHLQHQ/LFKWSXQNWHQYHUVFKLHGHQJURYHUVFKLHGHQEXQW'DQQYHUVFKZDQGHQDXFK VLH=XUFNEOLHEGLH6FKZlU]HGHV$OOV 'HUURWEUDXQJHIOHFNWH.DW]HUVFKORGLH$XJHQ%HZHJXQJVORVODJHUGDXQG|IIQHWHVHLQH 6LQQH IU GLH QHXH 8PJHEXQJ ZLH HU HV VFKRQ HLQPDO JHWDQ KDWWH (U ODXVFKWH DXI GLH 6WLPPHQGHV:HOWDOOV*DQ]OHLVHIDVWMHQVHLWVVHLQHU:DKUQHKPXQJVJUHQ]HQGUDQJGDV)O VWHUQ GHU 6WHUQH DXI LKQ HLQ /DQJVDP ZXUGH HV VWlUNHU 6DQIWH :HOOHQ GHV 8QLYHUVXPV VSLHOWHQ DXV NRVPLVFKHQ 7LHIHQ KHUDQ XQG XPZRJWHQ LKQ ZLH HLQ VWHWLJHU /XIWKDXFK %MR VSUWH GLH .UlIWH GHU *UDYLWDWLRQ XQG GHU =HOW (U HUOHEWH GLH %RWVFKDIWHQ YRQ *HEXUW XQG 9HUJHKHQXQ]lKOLJHU+LPPHOVN|USHUGLHGLH%UDQGXQJDQLKQKHUDQWUXJ:LHODQJHZDUHQVLH
VFKRQXQWHUZHJV%MRIKOWHGHQ*HVDQJYLHOIlOWLJHU6WLPPHQ-HGH6WLPPHZDUHLQ(UHLJQLV YRQJURHU%HGHXWXQJ +|UW LKU PLFK" GDFKWH %MR LQWHQVLY (U HUKLHOW NHLQH $QWZRUW 1XU GDV EHVWlQGLJH :RJHQ YHUJLQJ QLFKW 'HU &KRU DXV XQ]lKOLJHQ 6WLPPHQ EOLHE 'HU 5K\WKPXV GHV $OOV JULII DXI VHLQHQ.|USHUEHU,QGLHVHP5K\WKPXVSXOVLHUWHHU%MRIKOWHVLFKLQHLQH:HOOHYRQ:lU PHXQG(ZLJNHLWJHWDXFKW/lQJVWKDWWHHUGLH$XJHQJH|IIQHW'LH.XJHOXPLKQKHUXPZDU GXQNHO1XULQGHU)HUQHJOLW]HUWHHLQHLQ]HOQHUZLQ]LJHU3XQNW %MR ZDU JOFNOLFK (U IKOWH VLFK ]X +DXVH(U JDE VLFK JDQ] GLHVHP EHUDXVFKHQGHQ *HIKO KLQHLQZLQ]LJHV$WRPLQPLWWHQGHVJURHQ8QLYHUVXPV]XVHLQ
'HU+REE\%DVDU
:RRPHUD,, (VLVWNHLQH]ZHL-DKUHKHUVHLWGLH/DUHQGLH0LOFKVWUDHYHUODVVHQKDEHQ8QGZLHVLHKWHV EHLXQVDXV"(VLVW]XP.RW]HQ 5HGGHU+LQJVVSXFNWHJHUlXVFKYROODXV0LWGHP+HPGVlUPHOZLVFKWHHUVLFKGHQ0XQGDE GDQQQDKPHUGLH*DEHOGHVSULPLWLYHQ3IOXJHVLQGLH+DQGXQGEUOOWHGLHEHLGHQ2FKVHQDQ GLHGDVDOWHUWPOLFKH*HUlW]X]LHKHQKDWWHQ 3RQGHU5RXVHUJLQJ]HKQ6FKULWWHQHEHQLKP$XFKHUVWHXHUWHHLQHQ3IOXJGHUYRQ2FKVHQ JH]RJHQZXUGH6HLQHQ6WURKKXWWLHILQGDV*HVLFKWJH]RJHQWDSSWHHUVFKZHLJHQGKLQWHUGHP *HUlWKHUGDVWLHIH)XUFKHQLQGHQ$FNHUERGHQ]RJ6HLW]ZHL:RFKHQPDFKWHQVLHQXQGLHVH $UEHLW HWZD GUHL :RFKHQ EHQ|WLJWHQ VLH QRFK XP GDV /DQG XP]XJUDEHQ GDV VLH YRU GHU /DUHQLQYDVLRQPDVFKLQHOOLQ]ZHL7DJHQEHDUEHLWHWKDWWHQ 3RQGHU5RXVHUDQWZRUWHWHQLFKW6HLQHPYHUELVVHQHQ*HVLFKWZDUHVDQ]XVHKHQZLHVHKULKP VHLQH7lWLJNHLW]XP+DOVKHUDXVKLQJ +H3RQGHUVDJHQGOLFKZDVULHI+LQJVVRQVWVFKODIHLFKQRFKHLQ :DV VROO LFK VFKRQ VDJHQ" ,FK NDQQ PLFK QLFKW PHKU lUJHUQ RKQH GLH %HKHUUVFKXQJ ]X YHUOLHUHQ:DVVROOLFKDOVRVDJHQ"VHXI]WHHU (VZDUHLQH=XPXWXQJ,P6SlWVRPPHUZDUGDV*$9g.6FKLIIDXI:RRPHUDJHZHVHQKDWWH %HVWDQGVDXIQDKPHQ DQJHIRUGHUW XQG YHUVSURFKHQ GLH EHQ|WLJWHQ *WHU VR VFKQHOO ZLH P|JOLFK KHUEHL]XVFKDIIHQ 'LH %HZRKQHU GHV ]ZHLWHQ 3ODQHWHQ GHU ZHLHQ =ZHUJVRQQH 3U]\ELO GUlQJWHQ ,KQHQ IHKOWHQ YRU DOOHP 7UDNWRUHQ XQG KRFKZHUWLJH 0DVFKLQHQ XP GLH )HOGHU]XEHVWHOOHQ:RRPHUDZDUHLQ$JUDUSODQHW -HW]WVFKULHEGHU.DOHQGHU(QGH)HEUXDU'LHHUVWH$XVVDDWLQGHPZDUPHQWURFNHQHQ.OLPD GHV 3ODQHWHQ KlWWH OlQJVW YRUEHL VHLQ PVVHQ 6WDWW GHVVHQ PKWHQ VLFK JDQ]H .RORQQHQ )HOGHU LQ GHU *U|H LUGLVFKHU .OHLQVWDDWHQ GHV ]ZDQ]LJVWHQ -DKUKXQGHUWV ]X SIOJHQ XP ZHQLJVWHQVHLQH(UQWHLQGLHVHP-DKUHLQIDKUHQ]XN|QQHQ 'LH.DUWRIIHOQPVVHQUHLQIXKU5HGGHU+LQJVIRUW,FKZHUGHGLHJHVDPWH)DPLOLH]XP 6HW]HQ PLWEULQJHQ :LU PDFKHQ HLQHQ 7DJHVJDUWHQ IU GLH .LQGHU DXI GHU YRQ HLQ SDDU 0lGFKHQJHVFKPLVVHQZLUG$OOHEULJHQ%HZRKQHUPVVHQDXIGLH)HOGHU 8QG ZDV ZLUG DXV GHU 6FKXOH KD" IUDJWH 3RQGHU 5RXVHU JLIWLJ +DW GLH =HLW ELV ]XP QlFKVWHQ-DKU" +LQJV ]XFNWH PLW GHQ 6FKXOWHUQ (U ZXWH GD GLH 6LWXDWLRQ PHKU DOV EHVFKHLGHQ ZDU 'LH YLHU 0LOOLRQHQ (LQZRKQHU GHV 3ODQHWHQ NlPSIWHQ PLW HLQ XQG GHPVHOEHQ 3UREOHP 6RODQJH GLH 0DVFKLQHQ QLFKW HLQWUlIHQ PXWH HV YRQ +DQG JHKHQ (V EOLHE GHQ 0HQVFKHQ QLFKWV DQGHUHV EULJ :HQQ VLH QLFKW YHUKXQJHUQ ZROOWHQ PXWHQ VLH ]XPLQGHVW IU GLH (LJHQYHUVRUJXQJSURGX]LHUHQ 'HU7HXIHOVROOGLH9HUDQWZRUWOLFKHQKROHQZHQQVLHXQVLP6RPPHU6FKLIIHVFKLFNHQGLH GLH(UQWHDEKROHQVROOHQPXUPHOWH+LQJV,FKJHKHKLQXQGVSUHQJHGLH'LQJHULQGLH/XIW
6HLQH :XW ZDU V\PSWRPDWLVFK IU GLH GHU]HLWLJHQ 9HUKlOWQLVVH DXI :RRPHUD =XU =HLW GHU /DUHQKHUUVFKDIWKDWWHQVLFKGLHhEHUVFKZHUHQZHQLJVWHQVGDPLWEHJQJWGLH$UEHLWVNUDIWGHU 0HQVFKHQ DXV]XEHXWHQ 'DPDOV KDWWHQ GLH /DQGPDVFKLQHQ DXV GHU =HLW GHV 6RODUHQ ,PSHULXPV QRFK IXQNWLRQLHUW :DV KHLO JHEOLHEHQ ZDU KDWWHQ GLH hEHUVFKZHUHQ QDFK GHP =XVDPPHQEUXFK PLWJHQRPPHQ 'DUEHU ZDUHQ GLH %HZRKQHU YRQ :RRPHUD ,, QDWUOLFK EHVRQGHUVHUJULPPW8QGVLHZUGHQGLHhEHUVFKZHUHQLPPHULQHQWVSUHFKHQGHU(ULQQHUXQJ EHKDOWHQ (VNXUVLHUWHGDV*HUFKWGDDXIGHU6GKlOIWHGHV3ODQHWHQHLQHUHLQ*HUlWHQWZLFNHOWHPLW GHPPDQhEHUVFKZHUHIDQJHQNRQQWH'LH/HXWHHU]lKOWHQVLFKGDHVDXI+\SHUIUHTXHQ]GDV *HUlXVFKVDXVHQGHU3HLWVFKHQQDFKPDFKWHXQGGDPLWGLHhEHUVFKZHUHQDQORFNWH0DQPXWH GDV*HUl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|HUHU )HOVEURFNHQ GHUGHU.UDIWGHUEHLGHQ2FKVHQPKHORVZLGHUVWDQGHQKDWWH'DIUZDUGHU3IOXJLP(LPHU %HLP 7UPHU GHV 0DUV³ IOXFKWH +LQJV XQG ZKOWH LQ GHU ZDUPHQ (UGH :HQQ LFK QLFKW JHQDXZWHGDKLHUQRFKQLH)HOVHQJHIXQGHQZXUGHQZUGHLFKDQ.LVPHWXQGVRZHLWHU JODXEHQ:RNRPPWGLHVHV7UXPPKHU" 9HUPXWOLFK DXV GHP (UGLQQHUQ DQWZRUWHWH 5RXVHU GHU IURK ZDU GD HV HQGOLFK PDO $EZHFKVOXQJJDE$EHUGDVLVWMDHJDO:HJNULHJHQZLULKQQLFKW(VEOHLEWQLFKWVDQGHUHV EULJDOVGLH3IOXJVFKDUDXV]XZHFKVHOQ
'DEHLYHUOLHUHQZLUJDUDQWLHUW]ZHL6WXQGHQ-HIIHUVRQPXGDV(UVDW]WHLOKHUIDKUHQ(UZLUG XQVGUHL)XUFKHQNDSXWWPDFKHQZHQQQLFKWPHKU,FKEUHFKHDPEHVWHQJOHLFKDXI HK NRPPH QLFKW PLW ,FK SDVVH DXI GLH 2FKVHQ DXI VDJWH 3RQGHU XQG VHW]WH VLFK ZR HU VWDQG DXI GHQ %RGHQ *HPlFKOLFK VFKQDOOWH HU VHLQHQ NOHLQHQ 7RUQLVWHU DE XQG SDFNWH HLQH )ODVFKH DXV +LQJV KlQJWH VHLQHQ HLJHQHQ 7RUQLVWHU DQ GLH 3IOXJJDEHO XQG PDUVFKLHUWH ORV (LQHKDOEH6WXQGHEHQ|WLJWHHUELV]XU6LHGOXQJ:HQQHU*OFNKDWWHWUDIHUJOHLFK-HIIHUVRQ RGHUHLQHQDQGHUHQGHU=XJDQJ]XP0DVFKLQHQODJHUKDWWH:HQQQLFKWPXWHHUZDUWHQ (U KDWWH *OFN (U WUDI -HIIHUVRQ SHUV|QOLFK XQG GHU IXKU PLW GHP HLQ]LJHQ ]XU 9HUIJXQJ VWHKHQGHQ :DJHQ GLH QHXH 3IOXJVFKDU DXI GLH )HOGHU KLQDXV 5HGGHU +LQJV NRQQWH ZHLWHUSIOJHQ =ZHL 6WXQGHQ DEHU ZDUHQ YHUORUHQ 'DUDQ lQGHUWH DXFK GLH 7DWVDFKH QLFKWV GD GLH 6LHGOXQJ DP QlFKVWHQ 7DJ DOOH .UlIWH PRELOLVLHUWH XQG PLW GHP .DUWRIIHOVHW]HQ EHJDQQ:LHGHUYHUJLQJHLQ7DJRKQHGDVLFKHLQ5DXPVFKLIIEHUGHP3ODQHWHQKlWWHVHKHQ ODVVHQ
3DNLQWDP *UD\ ZDU &KLHI 2EVHUYHU HLQ 7LWHO GHQ HU VLFK VHOEVW YHUOLHKHQ KDWWH 'LH NOHLQH (LWHONHLW WlXVFKWH QLFKW GDUEHU KLQZHJ GD *UD\ HLQHU GHU IKUHQGHQ .|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|UWHQ :LH VLHKW HV
GUDXHQDXV" (V JHKHQ VHOWVDPH 'LQJH YRU PXUPHOWH *UD\ 'LH /RRZHU KDOWHQ QDFK ZLH YRU LKUH 3RVLWLRQ LP 6ROV\VWHP XQG YHUKDQGHOQ PLW GHU /)7 'DQHEHQ JLEW HV %HULFKWH XQG 0HOGXQJHQ GLH YRQ 8)2V XQG .LQGHVHQWIKUXQJHQ GXUFK 8)2%HVDW]XQJHQ DXI GHU (UGH EHULFKWHQ(VZLUGYRQ5DXPEHEHQJHVSURFKHQ +DWGDVDOOHV$XVZLUNXQJHQDXIGLH,QGXVWULHSURGXNWLRQDXI2O\PSXQGDQGHUHQ:HOWHQ" 1HLQLFKJODXEHQLFKW :LUPVVHQXQEHGLQJWQRFKPDOVPLWGHP]XVWlQGLJHQ9HUWUHWHUGHU*$9g.VSUHFKHQ:LU EUDXFKHQGULQJHQGXQVHUH0DVFKLQHQVRQVWN|QQHQZLUGHQ3ODQHWHQYHUODVVHQ ,VWHVVRVFKOLPP"IUDJWH3DNLQWDP*UD\1DWUOLFKZXWHHU%HVFKHLG'LH0HOGXQJHQGLH WlJOLFKEHUGLH)XQNJHUlWHHLQWUDIHQVSUDFKHQHLQHGHXWOLFKH6SUDFKH +HXWHLVWXQVHLQH3IOXJVFKDUNDSXWWJHJDQJHQ8QVHUH(UVDW]WHLOHVLQGDXIJHEUDXFKW:LU NRPPHQRKQHGLHJURHQ0DVFKLQHQQLFKWYRUDQ (VLVWHLQH6FKDQGHGDGLHhEHUVFKZHUHQVRYLHO]HUVW|UWXQGGHQ5HVWPLWJHQRPPHQ KDEHQ8QGXQVHUH6FKDGHQHUVDW]NODJHLVWYRPJDODNWLVFKHQ*HULFKWVKRIPLWGHU1XPPHU HLQJHVWXIWXQGZLUGYRUDXVVLFKWOLFKLQIQIELVVHFKV-DKUHQ]XU9HUKDQGOXQJ NRPPHQ )DOOVGLHhEHUVFKZHUHQELVGDKLQQRFKLQGHU/DJHVLQG6FKDGHQHUVDW]]XOHLVWHQ
'LH*$9g.ZLUGQLFKW]XODVVHQGDGLHVHV9RONGHP8QWHUJDQJHQWJHJHQWUHLEWQXUZHLO HVGLH)ROJHQVHLQHU*HZDOWKHUUVFKDIWQLFKWPHKUWUDJHQNDQQ$OOHUGLQJVGUIWHHVGLH QlFKVWHQSDDUKXQGHUW-DKUHUXKLJVHLQXPGLH1DFKIDKUHQ/HWLFURQV 3DNLQWDPWUDWYRUVHLQ+DXV(OHQDIROJWHLKP'HU&KLHI2EVHUYHUVDKGLH6WUDHHQWODQJ 6LHZDUDXIJHZKOW(UGVFKROOHQODJHQYHUVWUHXWKHUXP(VZDUHQGLH)ROJHQHLQHU DEJHVWU]WHQ7UDQVSRUWVFKHLEH0HQVFKHQZDUHQGDEHLQLFKW]X6FKDGHQJHNRPPHQDEHUGDV *HUlWZDU]HUVW|UW(UVDW]GDIUJDEHVNHLQHQ'LHPLWGHU6FKHLEHEHI|UGHUWH/DGXQJZXUGH PLWHLQHP(VHOVNDUUHQZHLWHUWUDQVSRUWLHUW
'LH0HQVFKHQDXI:RRPHUDNRQQWHQYRQ*OFNUHGHQGDVLHVLFK]XU=HLWGHU .RORQLVDWLRQGHV3ODQHWHQIUHLQHQ$JUDUVWDDWXQG1DWXUHQWVFKLHGHQKDWWHQ$QGHUH3ODQHWHQ KDWWHQVLFKDXI,QGXVWULHDQODJHQVSH]LDOLVLHUW6LHSURGX]LHUWHQKHXWHEHUKDXSWQLFKWPHKU 8QG:RRPHUDZUGHQRFKHLQH:HLOHEHQ|WLJHQXPVHLQHQ5XIDOVHLQH.RUQNDPPHUGHU *DOD[LVZLHGHUKHU]XVWHOOHQ 1RFKKHXWHZHUGHLFKPLW*UHQYHU7RWORUYRQGHU*$9g.VSUHFKHQYHUVSUDFK3DNLQWDP *UD\'HU1HXDUNRQLGHKDWEHLP OHW]WHQ$QUXI9HUVWlQGQLVIUXQVHUH/DJHJH]HLJWXQG :LUG PLUEHVWLPPW$XVNXQIWJHEHQN|QQHQZLHHVXPXQVHUH0DVFKLQHQVWHKW ,FKZHUGH+LQJVYHUVWlQGLJHQDEHUZLH,FK,KQ NHQQHZLUGHUVLFKGDPLWQLFKW ]XIULHGHQJHEHQPHLQWH(OHQD 6LH EHKLHOW UHFKW +LQJV ZDU YRQ %HUXI ,QJHQLHXU 6HLQH 7lWLJNHLW EHVWDQG GDULQ GLH 0DVFKLQHQ]XZDUWHQGDV(UVDW]WHLOODJHU]XHUJlQ]HQJHOHJHQWOLFKHLQHQQHXHQ)DKU]HXJW\S ]XWHVWHQ(UK|UWHVLFKGHQ%HVFKHLG(OHQD%DVVHQVUXKLJDQYHUOLHVHLQ+DXVXQGULWWDXI GHPQlFKVWEHVWHQ3IHUGQDFK&DQGULGJH'HU&KLHI2EVHUYHUZDUJHUDGHDXIGHP:HJ]XP +\SHUIXQNJHUlW 'LH %HZRKQHU GHU 6LHGOXQJ ZXWHQ GD HV HLQ ZLFKWLJHV *HVSUlFK ZDU hEHUDOOZXUGHQGLH(QHUJLHTXHOOHQDEJHVFKDOWHWGDPLWIUGHQ6HQGHUDXVUHLFKHQG6WURP]XU 9HUIJXQJVWDQG3DNLQWDP*UD\EOLFNWH]XP)HQVWHUKLQDXVELVHVGXQNHO,QGHU6WUDHZDU 'DQQ HUVW ZDQGWH HU VLFK DQ 5HGGHU +LQJV ,Q ZHQLJHQ 0LQXWHQ ZLVVHQ ZLU ZR XQVHUH 0DVFKLQHQJHEOLHEHQVLQG(VKDQGHOWVLFKZRKOXPHLQ9HUVHKHQVDJWHHU +LQJV]XFNWHPLWGHQ6FKXOWHUQ(UULHEVLFKGLH2EHUVFKHQNHOGHQQHUZDUGDV5HLWHQQLFKW JHZRKQW (UVW ZlKUHQG GHU /DUHQ]HLW KDWWH HU HV HUOHUQW XQG HLQLJH .XULHUGLHQVWH DXI :RRPHUD HUOHGLJW 3DNLQWDP *UD\ EOLHE YRU GHP JURHQ 6FKDOWSXOW PLW GHP %LOGVFKLUP VWHKHQ (U VFKDOWHWH GLH (QHUJLHYHUVRUJXQJ HLQ 0LW HLQHP %OLFN HUIDWH HU GD GLH $QODJH
HLQZDQGIUHLIXQNWLRQLHUWH'DQQYHUVXFKWHHUHLQH9HUELQGXQJPLWGHU*$9g.=HQWUDOHDXI (LQPXXUH]XHUKDOWHQ(LQPXXUHZDUGHUHUVWH6WW]SXQNW0XWRJKPDQ6FHUSVJHZHVHQ+HXWH ELOGHWH GHU 3ODQHW HLQHV GHU ZLFKWLJVWHQ .RRUGLQDWLRQV]HQWUHQ LP ZLUWVFKDIWOLFKHQ :LHGHUDXIEDXGHU*DOD[LV (UVWDXQOLFKHUZHLVHHUKLHOW*UD\LQQHUKDOEYRQIQI0LQXWHQHLQH9HUELQGXQJ'DVNDQWLJH *HVLFKWHLQHV1HXDUNRQOGHQHUVFKLHQDXIGHP%LOGVFKLUP*HODQJZHLOWPXVWHUWHGHU0DQQ GHU=HKQWDXVHQGHVROFKHU*HVSUlFKHSUR7DJHQWJHJHQQDKPGHQ$QUXIHU +LHU (LQPXXUH =HQWUDOYHUZDOWXQJ 6LH ZQVFKHQ" 3DNLQWDP *UD\ VSULFKW 3ODQHW :RRPHUD,,,FKP|FKWHGLH+DXSWVWHOOHIU0DVFKLQHQYHUVDQGKDEHQ(LQHQ0RPHQW6LU DQWZRUWHWHGHU0DQQ 'LH3UR]HGXUZLHGHUKROWHVLFK%HLPGULWWHQ0DQQKDWWH*UD\GDQQHQGOLFKGHQ 9HUDQWZRUWOLFKHQGLUHNWDXIGHP6FKLUP *UHQYHU7RWORUKLHUVSULFKWGHU3ODQHW:RRPHUDEHJDQQ*UD\HLQGULQJOLFKVHLWHLQHP KDOEHQ-DKUKDEHQZLU0DVFKLQHQEHVWHOOWXPGLHGLHVMlKULJH(UQWHZLHYRU%HJLQQGHU /DUHQLQYDVLRQDEZLFNHOQ]XN|QQHQ7URW]PHKUPDOLJHU1DFKIUDJHLVWELVMHW]WQLFKWV JHVFKHKHQ 7RWORUV *HVLFKW EOLHE VWDUU 'HU 0DQQ EHVD 1HUYHQ ZLH 'UDKWVHLOH 'HVKDOE ZDU HU DXI GLHVHP3RVWHQ ,FKNHQQH,KUHQ)DOOVDJWHHU(VLVWXQVELVKHUQLFKWJHOXQJHQGLH8QWHUODJHQEHU,KUH %HVWHOOXQJ ]X ILQGHQ 9HUPXWOLFK VLQG VLH DXV 9HUVHKHQ PLW ]X GHQ +HUVWHOOHUSODQHWHQ JHZDQGHUW'DHVVLFKXPODQGZLUWVFKDIWOLFKH0DVFKLQHQKDQGHOWHPSIHKOHLFK,KQHQ7URWWD ,9 RGHU 2O\PS DQ]XUXIHQ $XI HLQHU GHU EHLGHQ :HOWHQ PWHQ VLFK GLH 8QWHUODJHQ EHILQGHQ 'DQNHVDJWH*UD\NQDSSXQGVFKDOWHWHDE+LQJVIOFKWH ,FKKDEHHVPLUJOHLFKJHGDFKWULHIHU8QGZHQQGXMHW]WGRUWDQUXIVWZLUVWGXYHUPXWOLFK lKQOLFKH$QWZRUWHQHUKDOWHQ ,FKWXHHVWURW]GHP9LHOOHLFKWKDEHQZLU*OFN 'X VSLQQVW HQWJHJQHWH 5HGGHU +LQJV (U EHKLHOW UHFKW $XI 7URWWD ,9 HUKLHOWHQ VLH NHLQH 9HUELQGXQJ GLH 6XFKH LQ GHU 'DWHQNDUWHL YRQ2O\PS GDXHUWH VHFKV 0LQXWHQ 'DQQ ZXWHQ VLHGDLKU$XIWUDJLUJHQGZRYHUORUHQJHJDQJHQZDU 9HUIOXFKWHU0LVWZHWWHUWH+LQJVXQGOLHIPLW5LHVHQVFKULWWHQGXUFKGDV=LPPHU:DVWXQ ZLUMHW]W" (V JLEW NHLQH DQGHUH 0|JOLFKNHLW ZLU PVVHQ HLQH QHXH %HVWHOOXQJ DXIJHEHQ VDJWH 3DNLQWDP*UD\OHLVH%LVGLHGDQQJHOLHIHUWZLUGLVWHV:LQWHU 'DPLW LVW DOOHV NODU ,Q GLHVHP -DKU ZLUG :RRPHUD NHLQ .|UQFKHQ *HWUHLGH RGHU DQGHUH 1DKUXQJVPLWWHOH[SRUWLHUHQ $UPH*DOD[LV
7DUJULIIH3ODQHWGHU6RQQH3XOOJHU/LFKWMDKUHYRQ6ROHQWIHUQW NP 'XUFKPHVVHUJJURH.RQWLQHQWH-DKUGDXHUW (UGWDJH
'HU $XVEOLFN DXV GHP 3DQRUDPDIHQVWHU ZDU EH]DXEHUQG XQG YHUZLUUHQG ]XJOHLFK (U ]HLJWH HLQHNOHLQHIUHPGDUWLJH6WDGWPLWVFKODQNHQ7UPFKHQGLHVLFKVWHUQI|UPLJXPGDV=HQWUXP JUXSSLHUWHQZRHLQH6lXOHLQ6SLQGHOIRUPVWDQGGLHDOOHDQGHUHQ*HElXGHEHUUDJWH 'LH]DUWHQ7UPFKHQOHXFKWHWHQLQKHOOHQEHVFKDXOLFKHQ)DUEHQ,KUH$XHQZlQGH VFKLPPHUWHQYLHOIlOWLJLP6RQQHQOLFKWXQGEHVDHQHLQHPHUNZUGLJNULVWDOOLQH6WUXNWXU 1HEHQGLHVHU6WDGWZLUNWHQGLHYLHUVW|FNLJHQ*HElXGHIDGXQGXQYROOVWlQGLJGLHVLFKLQ HLQHU(QWIHUQXQJYRQHLQHLQKDOE.LORPHWHUQZLHIDXOH0DGHQLQGHU(EHQHDXVEUHLWHWHQ'HU /lUPGHULQLKQHQHU]HXJWZXUGHVWDQGLQNUDVVHP*HJHQVDW]]XGHUUXKLJHQ$WPRVSKlUHGHU 7UPH
,Q HLQHP GHU TXDGHUI|UPLJHQ %DXWHQ VWDQGHQ ]ZHL 0lQQHU DP 3DQRUDPDIHQVWHU XQG VDKHQ KLQDXV 6LH ZDUHQ EHLGH NQDSS HLQHQ 0HWHU VLHE]LJ JUR 'HU HLQH ]HLJWH HLQ YHUZLWWHUWHV *HVLFKW6HLQHLI|UPLJHU6FKlGHOWUXJGLHVFKWWHUHQ+DDUHLQNXU]HP6FKQLWWVRGDVLHZLH 6WDFKHOQYRP.RSIDEVWDQGHQ$XVGLHVHP*UXQGKDWWHPDQLKPGHQ6SLW]QDPHQ.DNWXV JHJHEHQ 'HU ]ZHLWH ZLUNWH DXI GHQ HUVWHQ %OLFN ZLH HLQ 'RSSHOJlQJHU GHV HUVWHQ %HL QlKHUHP+LQVHKHQEHPHUNWHPDQDEHUHLQSDDU8QWHUVFKLHGH'HU(LHUNRSIGHV]ZHLWHQZDU Y|OOLJNDKOXQGGLH+DXWVHLQHV*HVLFKWVVWUDIIHUXQGMQJHU9RQGHPHUVWHQZXUGHHUPHLVW (JJKHDGJHQDQQW 'LHEHLGHQ0lQQHUZDUHQGLH7HLOKDEHUXQG(LJHQWPHUGHVJU|WHQSULYDWHQ +DQGHOVXQWHUQHKPHQVGDVHV]XU=HLWLQGLHVHP6HNWRUJDE6LHKLHHQ3\RQ$U]DFKHQDXQG $OEDQ9LVERQH,KQHQJHK|UWHGHU+REE\%DVDU 'LH$XJHQGHUEHLGHQ0lQQHUZDUHQDXIGLH6WDGWJHULFKWHWGLHVRUXKLJYRULKQHQODJGD PDQVLHIDVWEHUVHKHQNRQQWHZHQQLKUHNULVWDOOHQHQ)DVVDGHQGHQVHOEHQ7RQDQQDKPHQ ZLHGHUZRONHQORVHEODXH+LPPHO 'LH*\V9RROEHHUDKVFKDIIHQVLFKHLQHQHXHYHU]DXEHUQGH+HLPDW$OEDQVDJWH3\RQ $U]DFKHQDYHUWUlXPW6LHKQXUGLHVH6WDGWZLH]LHUOLFKVLHJHEDXWLVW(VLVWNDXP]X JODXEHQGDPDQHLQH6LHGOXQJYRQVROFKDQVSUHFKHQGHUbVWKHWLNEHUKDXSWEDXHQNDQQ 'LH*\V9RROEHHUDKVLQG.QVWOHU6LHEDXHQZLHVLHVHOEVWVLQGXQGHPSILQGHQ6FK|Q XQGVFKODQNDQWZRUWHWH$OEDQ9LVERQHXQGIXKUVLFKPLWGHUUHFKWHQ+DQGEHUVHLQHQ .DKONRSI6LHVLQGHLQH%HUHLFKHUXQJGHU.XOWXUXQVHUHU0LOFKVWUDHXQGLFKELQPLUVLFKHU ZHQQVLHIUKHUDOV0ROHNOYHUIRUPHU)XUFKWXQG6FKUHFNHQYHUEUHLWHWHQGDQQZHUGHQVLHLQ =XNXQIWJHUDGHGDV*HJHQWHLOHUUHLFKHQ0DQZLUGVLHVFKlW]HQOHUQHQ OHXQGLKUH)lKLJNHLWHQLQGHU+HUVWHOOXQJHOHNWURQLVFKHU(OHPHQWHGLHDXI*UXQGLKUHU NOHLQHQ$XVPDHIUXQVHUH%DXVlW]HZLHJHUXIHQNRPPHQ )DV]LQLHUWVDK$U]DFKHQDDQGHU6LOKRXHWWHGHU6WDGWHQWODQJ$P)XHLQHVGHU7UPFKHQ |IIQHWHVLFKHLQH7U(LQHKHOOURVDIXQNHOQGH6FKQHHIORFNHPHQVFKOLFKHU*U|HYHUOLHGLH 6WDGWXQGEHZHJWHVLFKDXI]DUWHQ.ULVWDOOEHLQFKHQGXUFKGDV*UDVGDVGLH(EHQHEHGHFNWH 6LHQDKPGHQ:HJDXIGLH4XDGHUJHElXGH]X
6LHKQXUZLHVFK|QIOVWHUWH3\RQ$U]DFKHQDHKUIUFKWLJ(UHULQQHUWHVLFKDQGLHHUVWH %HJHJQXQJPLWGHU)RUPGHV8UVSUXQJVDOVHUVLFK=XWULWW]XU=<0$+5(/.=()7 YHUVFKDIIWKDWWH(WZDVVR%HW|UHQGHVXQG6FK|QHVKDWWHHUQLH]XYRUJHVHKHQ'LH)RUPGHV 8UVSUXQJVZLHGLH*\V9RROEHHUDKGLHVH)RUPQDQQWHQZDUGLHYROONRPPHQVWH)RUPHLQHV /HEHZHVHQVGLHHVMHJHJHEHQKDWWH
'LH6FKQHHIORFNHNDPKHUDQXQGHUUHLFKWHGDV*HElXGHLQGHP3\RQXQG$OEDQDP )HQVWHUVWDQGHQ'LHNULVWDOOLQHQ$XVZFKVHGHU*HVWDOWZLQNWHQ]XP)HQVWHUHPSRU.XU] GDUDXIEHWUDWGHU*\V9RROEHHUDKGDV=LPPHU $U]DFKHQDXQG9LVERQHJLQJHQLKPHQWJHJHQ *XWHQ7DJ3\RQJXWHQ7DJ$OEDQVDJWHGLH6FKQHHIORFNHPLWYROOW|QHQGHU6WLPPH 6LHNODQJZLHHLQH0LVFKXQJDXV+DUIH7URPPHOXQG7DPEXULQXQGOLHDXIHLQHQHQRUPHQ 5HVRQDQ]ERGHQVFKOLHHQ 3\RQVWDUUWHDXIGLH*HVWDOW(WZDLQ6WLUQK|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
%HZHJXQJHQOLHVLFKGHU*\V9RROEHHUDKLQGHU6LW]JHOHJHQKHLWQLHGHU9LVERQHVWHOOWHVLFK KLQWHU3\RQV3ODW]
(WZDV(OHNWURQLVFKHVYHUPXWHWH3\RQ'DQQPVVHQZLU6FKDOWSOlQHXQGDQGHUHVGD]X HQWZHUIHQ2EHVIUXQVHUH.XQGHQQLFKWGRFK]XVFKZLHULJLVWHLQHQ6FKZHEHUVHOEVW]X EDXHQ" (UPXLGLRWHQVLFKHUVHLQEHNUlIWLJWH9LVERQH ,KUKDEWUHFKWVDJWH*HU]LHOODQGHVVHQ.|USHUNHLQH0XQG|IIQXQJIHVW]XVWHOOHQZDU(U VSUDFKDXVGHU6FKQHHIORFNHKHUDXV(VKDQGHOWVLFKXPHLQH,GHH<WWHUVZLHPDQHLQH 0LQLDWXUSRVLWURQLNIUHLQ6FKZHEHIDKU]HXJHUVWHOOHQN|QQWHGLHGHQ6LFKHUKHLWVEH VWLPPXQJHQJHQJHQZUGH6LHZlUHIUGHQ%HWUHIIHQGHQOHLFKWHLQ]XEDXHQXQGJDUDQWLHUW IHKOHUIUHLH)XQNWLRQ (LQYHUVWDQGHQZLUEHJOHLWHQGLFKLQGLH6WDGW*HU]LHOOHUNOlUWH3\RQ$U]DFKHQD 6LHYHUOLHHQGDV*HElXGHXQGVFKULWWHQKLQEHU]XGHQVFKODQNHQ7UPHQ*HU]LHOOIKUWH VLHGLHVFKPDOHQ*DVVHQHQWODQJEHUGHQHQVLFKGLH7UPFKHQZLHHLQ'DFKDXV%lXPHQ Z|OEWHQ 6LH LVW XQYHUJOHLFKOLFK VFK|Q HXUH 6WDGW VDJWHQ $U]DFKHQD XQG 9LVERQH HUJULIIHQ :R KDEWLKUJHOHUQWVR]XEDXHQ" *\V3URJKHU VDJWH *HU]LHOO (V LVW *\V3URJKHU 6R EDXHQ GLH *\V9RROEHHUDK VHLW bRQHULa,KUZUGHWHVYLHOOHLFKW.XQVWQHQQHQ (VLVW.XQVWEHNUlIWLJWHGHUHKHPDOLJH3URVSHNWRU 0LW HLQHP $QIOXJ YRQ :HKPXW GDFKWH 3\RQ DQ GLH *HVFKLFKWH GLHVHV 9RONHV GDV LQ GHU *DOD[LV 8XIWKDQ3\QN HLQH JHZDOWLJH =LYLOLVDWLRQ DXIJHEDXW KDWWH XQG VSlWHU LQ DOOH :LQGH ]HUVWUHXWZRUGHQZDU:lKUHQGGHUJDQ]HQZHLWHUHQ=HLWKDWWHQVLHVLFKDQGLH(UQHXHUXQJ LKUHV7EDJHNODPPHUW'DVKDWWHGHQ$XVVFKODJJHJHEHQGDVLHVLFKHLQHV7DJHVLQGHU7LHIH GHV8QLYHUVXPVJHVDPPHOWKDWWHQLQGHU0LOFKVWUDH(EHQ*HU]LHOOKDWWHDOVHLQ]LJHU7UlJHU GHU ZDKUHQ )RUP GLH LQQHUVWHQ +DOOHQ GHU 0LQLDWXUVWDGW 7ODJDODJK EHWUHWHQ GUIHQ (U KDWWH GLH XUVSUQJOLFKH *HVWDOW GHU *\V9|ROEHHUDK DQJHQRPPHQ XQG ZDU YRQ GHQ 6HLQHQ JH PLHGHQ ZRUGHQ ELV HV +RWUHQRU7DDN XQG 3\RQ JHODQJ GLH *\V9RROEHHUDK YRQ GHU XQYHUJOHLFKOLFKHQ 6FK|QKHLW GHU )RUP GHV 8UVSUXQJV ]X EHU]HXJHQ 'DUDXI QDKPHQ DOOH *\V9RROEHHUDK GLHVH )RUP DQ DXV GHU HV NHLQHQ $XVZHJ PHKU JDE :HU HUVW GLH 8U VSUXQJVJHVWDOWWUXJNRQQWHNHLQHDQGHUH*HVWDOWPHKUDQQHKPHQ *HU]LHOOIKUWHGLHEHLGHQ0lQQHULQGDV,QQHUHHLQHVGHU7UPH6LHVDKHQPHKUHUH 'XW]HQG6FKQHHIORFNHQDQ*HUlWHQDUEHLWHQGLHVLHQLFKWNDQQWHQ(VZDUHQWHFKQLVFKH (QWZLFNOXQJHQGHUHKHPDOLJHQ0ROHNOYHUIRUPHU3\RQXQG$OEDQHUNDQQWHQGDGLHVHV 9RONPLWGHU6HKDIWLJNHLWDXFKGLH)lKLJNHLW]XUFNJHZRQQHQKDWWHVLFK]XHQWZLFNHOQ(V VFKXIVLFKDXI7DUJULIIHHLQHQQHXHQ/HEHQVUDXPXQGHLQHQHXH.XOWXU]XGHUDXFKGHU ZLVVHQVFKDIWOLFKHXQGWHFKQLVFKH)RUWVFKULWWJHK|UWH8QGYRQLKPSURILWLHUWHQGLHEHLGHQ 7HLOKDEHUPLWLKUHP+REE\9HUVDQGKDXV 'DVLVWHV *HU]LHOOGHXWHWHDXIHLQHQ%HKlOWHULQGHU*U|HHLQHU6FKUHLEPDVFKLQH(U|IIQHWHGHQ 'HFNHO6LHVDKHQHLQHYHUZLUUHQGH)OOHYRQ6SHLFKHUHOHPHQWHQXQGHLQH=DKOYRQ]ZDQ]LJ .RQWDNWHQGLHPLWGHU6WHXHUXQJHLQHV)DKU]HXJVYHUEXQGHQZHUGHQPXWHQ 'DVLVWYHUEOIIHQGHLQIDFKVSUXGHOWH9LVERQHKHUYRU:LHYLHO0DJQHWVSXUHQODXIHQ DXIGLHVHQ.RQWDNWHQ" 6LHUHLFKHQIUGLH6WHXHUXQJGHV)DKU]HXJVXQGEHVLW]HQHLQHQNRPSOHWWHQ(UVDW]WHLO VRGD EHL$XVIDOOHLQHU)XQNWLRQQXUXPJHVFKDOWHW]XZHUGHQEUDXFKW Ä8QG LKU ZROOW XQV GLHVHV *HUlW WDWVlFKOLFK IU XQVHUHQ 9HUVDQG EHUODVVHQ" IUDJWH 3\RQ .DNWXV 'DVLVW(KUHQVDFKHHUNOlUWH*HU]LHOO,KUXQGHXHU9HUVDQGXQWHUVWW]HQXQVPLWDOOHQ QXUP|JOLFKHQ'LQJHQEHLGHP$XIEDXXQVHUHV*HPHLQZHVHQV-XOLDQ7LIILRUHUNXQGLJWVLFK
UHJHOPlLJQDFKXQVHUHQ:QVFKHQXQGVFKLFNWXQV6FKLIIHGLHGLHJHZQVFKWHQ:DUHQ OLHIHUQ8QGGDVROOHQZLUXQVQLFKWHUNHQQWOLFK]HLJHQ" (UKLHOWLQQH(LQH]ZHLWH6FKQHHIORFNHKDWWHVLFK]XLKQHQJHVHOOW$U]DFKHQDXQGVHLQ 3DUWQHUNRQQWHQVLHQLFKWYRQGHQDQGHUHQ*\V9RROEHHUDKXQWHUVFKHLGHQ*HU]LHOOVDJWH 'DVLVW<WWHU 'LH6FKQHHIORFNHYHUQHLJWHVLFKOHLFKW ,FKJUHHXFK3\RQXQG$OEDQW|QWHHVDXVLKUHP,QQHUQ,FKKRIIHGDLFKHXFKPLW GLHVHP*HUlWHLQHNOHLQH)UHXGHPDFKHQNDQQ 0HKUDOVGDVPHKUDOVGDVPHLQOLHEHU<WWHUULHI$U]DFKHQDEHUVFKZlQJOLFK 'DQQWHLOWXQVPLWZLHYLHOH([HPSODUHLKUIUVHUVWHEHQ|WLJWVDJWH<WWHU$OEDQ EHUOHJWHNXU] =ZHLWDXVHQGVDJWHHUGDQQ:LUZHUGHQHXFKGLH5RKVWRIIHXQG(LQ]HOWHLOHVRIRUW EHVRUJHQ *XW]ZHLWDXVHQGNODQJHVDXV*HU]LHOO(VLVWZHQLJDEHUIUGHQ$QIDQJGUIWHHV DXVUHLFKHQ:HQQGLH)DKU]HXJHJURHQ$EVDW]ILQGHQZHUGHQZLUGLH3URGXNWLRQVWHLJHUQ 0LWHLQHP*UX]RJVLFK<WWHU]XUFN*HU]LHOOIKUWHGLHEHLGHQ0lQQHUKLQDXVXQGGXUFK GLH6WDGW,QLKUHP=HQWUXPVDKHQVLHGLH6SLQGHOVlXOHXQGDQLKUHP)XHLQJROGIDUEHQ OHXFKWHQGHV*HElXGHDQGHPZHGHU7UHQQRFK)HQVWHU]XHUNHQQHQZDUHQ'LH:lQGHGHU XPOLHJHQGHQ7UPHZDUIHQVHLQ/LFKW]XUFN :DVLVWGDV"IUDJWHQ3\RQXQG$OEDQJOHLFK]HLWLJ ,KUNHQQWXQVHUH*HVFKLFKWHXQGGLH(UHLJQLVVHLQGLHVHU0LOFKVWUDH%HDQWZRUWHWHXFK GLHVH)UDJHVHOEVWIRUGHUWH*HU]LHOOVLHDXI 6LHEHUOHJWHQXQGNDPHQQLFKWGDUDXIGDHVHLQ$EELOGGHV6FKUHLQVYRQ7ODJDODJKZDU 6LHOLHHQVLFKYRQGHP*\V9RROEHHUDK]XP(QGHGHU6WDGWIKUHQ'XUFKHLQH7U JHODQJWHQVLHLQV)UHLHZRVLHVLFKYRQ*HU]LHOOYHUDEVFKLHGHWHQ'HUXQJHNU|QWH.|QLJGHU 6FKQHHIORFNHQEOLHE]XUFNXQGVHLQH.ULVWDOOHIXQNHOWHQLKQHQQDFK
8QVHU=LHOPXVHLQGDV$QJHERWGHV%DVDUVVWHWLJ]XHUK|KHQGR]LHUWH$U]DFKHQDYRUGHQ 0LWDUEHLWHUQ VHLQHV 9HUVDQGKDXVHV (V ZDUHQ IDVW DXVVFKOLHOLFK *lDQHU GLH HV YRUJH]RJHQ KDWWHQVLFKDXIHLQHPDQGHUHQ3ODQHWHQDOVDXI7HUUDDQ]XVLHGHOQRGHUGLHVLFKIUHLZLOOLJDOV (QWZLFNOXQJVKHOIHU DXI HLQH GHU 0HQVFKHQZHOWHQ JHPHOGHW KDWWHQ 'HQ 5HVW ELOGHWHQ )OFKWOLQJH GLH XQWHU GHU +HUUVFKDIW GHU /DUHQ XQG LKUHU JUDXVDPHQ .QHFKWH YHUVFKOHSSW ZRUGHQZDUHQXQGNHLQH+HLPDWPHKUEHVDHQ /HLGHUOLHJWHLQ7HLOXQVHUHU$EVDW]PlUNWHQRFKLPPHUEUDFK$XFKXQVHUH)LUPDKDWPLW GHQ6FKZLHULJNHLWHQGHV:LHGHUDXIEDXVGHU*DOD[LV]XNlPSIHQIXKUHUIRUW7URW]GHP NDQQ,FKVDJHQGDXQVHU8PVDW]ZHLWHUVWHLJW'LH9|ONHUGHU0LOFKVWUDHVLQGGDUDXI DQJHZLHVHQELOOLJH*HUlWHHLQ]XNDXIHQGLHVLHGDQQVHOEVW]XVDPPHQEDXHQ8QGGLH $QJHERWHXQVHUHV%DVDUVVLQGQLFKW]XYHUDFKWHQ6LHOLHJHQWHLOZHLVHXPGLH+lOIWHXQWHU GHP3UHLVIUIHUWLJH:DUHQ 9LVERQHUROOWHHLQSDDU3OlQHIUGDVJHSODQWH6FKZHEHIDKU]HXJDXV(VZDUHLQIXQNWLRQHOOHV *HUlW GDV ]XU 3HUVRQHQ XQG /DVWHQEHI|UGHUXQJ JOHLFKHUPDHQ YHUZHQGEDU ZDU 'LH =LHOH GHV+REE\%DVDUVODJHQDEHUQLFKWQXULPPDVFKLQHOOHQXQGIXQNWLRQHOOHQ%HUHLFKVLHODJHQ DXFK EHL GHU +HUVWHOOXQJ YRQ 6SLHOVDFKHQ JHZ|KQOLFKHQ *HEUDXFKVJHJHQVWlQGHQ GLH LQ NRPELQLHUWHQ 6HWV DQJHERWHQ ZXUGHQ (LQH YROOURERWLVFKH .FKH LQ ]HKQ 9DULDWLRQHQ ]XP %HLVSLHO5RERWHUDXV6FKURWWZDUHQQXUGHU$QIDQJJHZHVHQ 'HU9RUWUDJGHUEHLGHQ&KHIVGDXHUWHHWZD]ZDQ]LJ0LQXWHQ'DQQZXWHQGLH0LWDUEHLWHULQ DOOHQ(LQ]HOKHLWHQ%HVFKHLG6LHJULIIHQXQGWHLOWHQVLFKGLH3OlQH'DQDFKZXUGHQ0DVFKLQHQ QHX SURJUDPPLHUW GLH WHLOZHLVH YRQ 2O\PS VWDPPWHQ ZXUGHQ GLH 5RKWHLOH JHRUGHUW 'LH 3URGXNWLRQEHJDQQ(LQHQ7DJVSlWHUZDUGHU3URWRW\SIHUWLJJHVWHOOWXQGJLQJLQGLH7HVWKDOOH
0LW]XIULHGHQHP*HVLFKWEHREDFKWHWH3\RQ$U]DFKHQDGHQ%LOGVFKLUPGHUGLH(UJHEQLVVH ]HLJWH'DV6FKZHEHIDKU]HXJZDUYROOHLQVDW]EHUHLWHVYHUIJWHQHEHQVHLQHUOHLVWXQJVIlKLJHQ
3RVLWURQLNEHUHLQHQEHVRQGHUVJURHQ/DGHUDXPGHUGHQGHUKHUN|PPOLFKHQ6FKZHEHU EHUWUDI'DEHLYHUEUDXFKWHHUELOOLJH%DWWHULHQHQHUJLH'LH%DWWHULHQZXUGHQHEHQIDOOVYRP +REE\%DVDUJHOLHIHUWXQGEHVWDQGHQDXVDXIEHUHLWHWHQ(OHPHQWHQGLHXPHLQ'ULWWHOELOOLJHU DOVQHXZHUWLJHDEJHJHEHQZHUGHQNRQQWHQ'D]XNDPGLH)RUPGHV*HIlKUWVGLHVLFKGXUFK EHWRQWH*UD]LHYRQGHQWHUUDQLVFKHQXQGDUNQLGLVFKHQ)DKU]HXJHQDEKREHLQ=HLFKHQIUGLH %HZXQGHUXQJGLH$U]DFKHQDXQGVHLQ.RPSDJQRQGHU%DXZHLVHGHU*\V9RROEHHUDKHQWJH JHQEUDFKWHQ0LWWHQLQGHU$UPDWXUHQWDIHOSUDQJWHGDV)LUPHQ]HLFKHQHLQVWLOLVLHUWHU *HJHQVWDQGLQGHPPDQDOOHVP|JOLFKHHUNHQQHQNRQQWH0DQFKPDOHULQQHUWHHUDQHLQHQ HLI|UPLJHQ.DNWXV :lKUHQG GLH 3URGXNWLRQ EHJDQQ EHUOHJWHQ $U]DFKHQD XQG 9LVERQH ZLH VLH LKUHQ :HUEHIHOG]XJ JHVWDOWHQ N|QQWHQ (V JLQJ XP QHXH $EVDW]PlUNWH XQG JXWH ,GHHQ ZDUHQ EHJHKUW 2EZRKO VLH VLFK LKUH *HKLUQH ]HUPDUWHUWHQ IDQGHQ VLH QLFKWV ZDV QLFKW VFKRQ GDJHZHVHQ ZlUH $OV VLH UHVLJQLHUHQG GLH +lQGH LQ GHQ 6FKR OHJWHQ HUKLHOWHQ VLH 8QWHUVWW]XQJYRQHLQHU6HLWHPLWGHUVLHQLFKWJHUHFKQHWKDWWHQ'LUHNWDXVGHU=HQWUDOHGHU /)7 6LHVDHQJHUDGHEHLP0LWWDJHVVHQXQGYHU]HKUWHQHLQHQYRQGHU.FKHQDXWRPDWLN KHUJHULFKWHWHQGXIWHQGHQ%UHLDOVVLFKGDV+\SHUIXQNJHUlWPHOGHWH .DNWXVGHUDQGHQ(PSIlQJHUJHWUHWHQZDUVWDUUWHLQGDV*HVLFKWGHV0DQQHVGDVDXI GHP6FKLUPHUVFKLHQXQGLKQIUHXQGOLFKDQOlFKHOWH -XOLDQ7LIILRUULHI$U]DFKHQDDXV9LVERQHHLOWHKHUEHL 6LHVHKHQUHFKWVDJWHGHU(UVWH7HUUDQHU:LHJHKWHVXQVHUHQ)UHXQGHQGHQ*\V 9RROEHHUDK" $XVJH]HLFKQHW6LHPWHQXQEHGLQJWHLQPDOQDFK7DUJULIIHNRPPHQXQGVLFKDQVHKHQ ZDVGLHVHV9RONKLHU]XVFKDIIHQLQGHU/DJHLVW(VLVWIDVWXQYRUVWHOOEDU6RVFKODQNH7UPH YRQVROFKDQPXWLJHQ:HVHQJHVWDOWHW ,FKZHUGHPLUEHL*HOHJHQKHLWHLQHQ)LOPGDUEHUDQVHKHQYHUVSUDFK7LIIORUXQG XQWHUEUDFKGHQVFKZlUPHQGHQ5HGHIOXGHVIUKHUHQ3URVSHNWRUV0HLQ$QUXIKDWHLQHQ ZLFKWLJHUHQ*UXQG :LUKDEHQHLQHQGULQJHQGHQ+LOIHUXIGHU*$9g.HPSIDQJHQIXKU7LIIORUIRUW(VJHKW GDUXPGDGLH,QGXVWULHLQYHUVFKLHGHQHQ7HLOHQGHU0LOFKVWUDHQRFKQLFKWDXIYROOHQ 7RXUHQOlXIW(VJLEW(QJSlVVH9RUDOOHP0DVFKLQHQYHUVFKLHGHQVWHU$UWIHKOHQ:DVDP PHLVWHQGUlQJWVLQG/DQGPDVFKLQHQIUGLH(UQWHGHU$JUDUSODQHWHQ:HQQQLFKWHWZDV JHVFKLHKWZHUGHQYHUVFKLHGHQH9|ONHULPQlFKVWHQ:LQWHUDP+XQJHUWXFKQDJHQ 8QGZLUVROOHQHLQVSULQJHQ"IUDJWH$U]DFKHQD 6LH VLQG PLU HLQJHIDOOHQ DOV LFK NHLQHQ 5DW PHKU ZXWH HQWJHJQHWH 7LIILRU $EHU 6LH VFKHLQHQQLFKWJHUDGHEHJHLVWHUW Ä'HU(LQGUXFNWlXVFKWULHI$U]DFKHQDVFKQHOO,FKELQQXUYHUZXQGHUW Ä6LHVLQGDOVREHUHLWHLQ]XVSULQJHQ"VDJWH7LIIORUHUIUHXW $EHUVHOEVWYHUVWlQGOLFKhEHUPLWWHOQ6LHXQVGLH1DPHQGHUEHWURIIHQHQ3ODQHWHQXQGGLH $UWGHU0DVFKLQHQGLHEHQ|WLJWZHUGHQ'HU+REE\%DVDUZLUGDOOH:QVFKH ]XIULHGHQVWHOOHQ (VJHKWGDUXPGDGLH0DVFKLQHQVFKQHOOEHQ|WLJWZHUGHQJDEGHU(UVWH7HUUDQHU]X EHGHQNHQ 'DVLVWNHLQ3UREOHPVFKDOWHWHVLFK9LVERQHHLQ(UVFKREVLFKLQGHQ(UIDVVXQJVEHUHLFK GHU2SWLN8QVHUH)OLHEDQGDQODJHQVLQGLQNU]HVWHU=HLWSURJUDPPLHUW 6LHQHKPHQPLUHLQHJURH/DVWYRP+HU]HQVHXI]WH7LIIORU,FKKDEHVRYLHOH6RUJHQ GDHVHLQ:XQGHULVWHLQHORV]XVHLQ,FKIUHXHPLFKGD6LHHLQVSULQJHQXQGGDQNH ,KQHQ %HVXFKHQ6LHXQVEDOGULHI$U]DFKHQDDEHUGDKDWWHGHU(UVWH7HUUDQHUEHUHLWV DEJHVFKDOWHW .DNWXVZDQGWHVLFKVHLQHP3DUWQHU]X(JJKHDGIXKUZLHLPPHUZHQQHUQHUY|VZDUPLW
GHQ+lQGHQEHUGHQNDKOHQ6FKlGHO 'DVLVWXQVHUHJURH&KDQFH$OEDQ,QZHQLJHQ0LQXWHQEHVLW]HQZLUGLH1DPHQDOOHU 3ODQHWHQGLHYRQXQV0DVFKLQHQNDXIHQZHUGHQ=XELOOLJHQ3UHLVHQ6LHZDUWHWHQXQG PDFKWHQVLFKGDUDQGHQ3ODQIUHLQHQ:HUEHIHOG]XJDXV]XNOJHOQ(VPXWHHWZDV JDQ]%HVRQGHUHVZHUGHQ
:RRPHUD,, 'LHJDQ]H6LHGOXQJZDUDXIGHQ%HLQHQ0lQQHUXQG)UDXHQDUEHLWHWHQLP$NNRUG XP GLH6DDWLQGHQ%RGHQ]XEULQJHQGDPLWZHQLJVWHQVGLH%HZRKQHUGHU 5HJLRQJHQXJ]XHVVHQKDWWHQZHQQGHU:LQWHUNDP$XI:RRPHUDJDEHV]ZDUVRJXW ZLHNHLQHQ:LQWHUPDQKlWWHRKQHZHLWHUHVHLQHGULWWH(UQWHHLQEULQJHQN|QQHQDEHUGHU %RGHQEHQ|WLJWHPHKUHUH0RQDWH5XKHGDPLWHUZLHGHUHUJLHELJZXUGH ,QGHQDQGHUHQ6LHGOXQJHQOLHIHVJHQDXVR&DQGULGJHPLWGHUJU|WHQ%HY|ONHUXQJVGLFKWH KDWWH HV VFKZHU GD HLQ 7HLO VHLQHU /lQGHUHLHQ IU DQGHUH %HUHLFKH YHUZHQGHW ZXUGH 'LH (EHQHZHVWOLFKGHU6WDGWELOGHWHGHQ5DXPKDIHQ$XHUJURHQ%HWRQIOlFKHQXQGQLHGULJHQ *HElXGHQJDEHVGRUWJDUQLFKWV'DKLQWHUODJHQGLH%HUJHGLHXQ]XJlQJOLFKZDUHQ$QLKUHQ +lQJHQ ZXFKVHQ OHGLJOLFK HLQ SDDU :HLQWUDXEHQ 1|UGOLFK GHU 6WDGW EHIDQG VLFK GDV .UDIWZHUNDP6KLYHUGHPHLQ]LJHQ)OXDXIGLHVHP.RQWLQHQWGHUVFKLIIEDUZDU,P6GHQ ODJHQ GLH K\GURSRQLVFKHQ *lUWHQ VR GD QXU GLH (EHQH LP 2VWHQ IU GHQ $FNHUEDX ]XU 9HUIJXQJVWDQG 5HGGHU +LQJV XQG 3RQGHU 5RXVHU DXV (OYHUGRQ ZDUHQ QRFK LPPHU PLW LKUHQ 2FKVHQJHVSDQQHQXQWHUZHJV/DQJVDPNDPHQVLH&DQGULGJHQlKHU:HLWKLQWHULKQHQVHW]WHQ GLH0HQVFKHQYRQ+DQGGLH.DUWRIIHOQVlWHQ*HWUHLGHXQGSIODQ]WHQ6DODW'HU%RGHQNOHEWH QLFKW ERW DEHU JHQJHQG )HXFKWLJNHLW GLH 3IODQ]HQ JXW DQZDFKVHQ XQG JHGHLKHQ ]X ODVVHQ %LVLQ]ZHL:RFKHQZUGHQGLH5HJHQIlOOHNRPPHQELVGDKLQPXWHGDV*HWUHLGHJHNHLPW KDEHQ GDPLW GDV :DVVHU HV QLFKW LQ GLH WLHIHUHQ %RGHQVFKLFKWHQ VFKZHPPWH ZR HV QLFKW DXIJLQJ 6FKZHLJHQGVFKULWWHQGLHEHLGHQ0lQQHUKLQWHULKUHQ2FKVHQKHUXQGKLHOWHQVLFKDQGHU 'HLFKVHOGHV3IOXJHVIHVW$P(QGHGHVZHLWHQ)HOGHVPDFKWHQVLHNHKUWJLQJHQ]XUFNKLQ XQG KHU 8QXQWHUEURFKHQ DUEHLWHWHQ VLH 1LFKW HLQPDO HLQH 0LWWDJVSDXVH OHJWHQ VLH HLQ =ZLVFKHQGXUFKDHQXQGWUDQNHQVLHDXVLKUHQ7RUQLVWHUQ (V ZDU GUHL 8KU QDFKPLWWDJV DOV 6LH GDV 'U|KQHQ LQ GHU /XIW K|UWHQ +LQJV KLHOW VHLQH 2FKVHQ DQ XQG VWDUUWH LQ GHQ ZRONHQORVHQ +LPPHO =XHUVW VDK HU QLFKWV QXU GDV 'U|KQHQ ZXUGH VWlUNHU 'DQQ HUEOLFNWH HU GHQ NOHLQHQ JOLW]HUQGHQ 3XQNW GHU LQ GHU 1lKH GHV +RUL ]RQWV DXIWDXFKWH ]XQlFKVW HLQ 6WFN DP +LPPHOVJHZ|OEH HPSRUZDQGHUWH GDQQ DEHU QDFK XQWHQ VDQN XQG DQZXFKV +LQJV OLH GHQ HUKREHQHQ $UP VLQNHQ (LQ %OLFN EHU]HXJWH LKQ GDGLH0HQVFKHQKLQWHULKQHQHEHQIDOOVDXIPHUNVDPJHZRUGHQZDUHQ .HLQ =ZHLIHO HV LVW HLQ 6FKLII VFKULH 5RXVHU LQ GLHVHP 0RPHQW (LQ 5DXPVFKLII EHILQGHWVLFKLP$QIOXJ8QVHUH0DVFKLQHQNRPPHQ 2KQH]XEHUOHJHQUDQQWH+LQJVORV(UHLOWH]XGHU6WHOOHZR-HIIHUVRQGHQ3IHUGHZDJHQ DEJHVWHOOWKDWWH(UO|VWHGLH'HLFKVHOXQGKROWHGDVHLQH3IHUGDXVGHP*HVFKLUU2KQHHV]X ]lXPHQ VSUDQJ HU DXI XQG VSUHQJWH GDYRQ (U NDP DQ -HIIHUVRQ YRUEHL GHU HEHQIDOOV ]XP :DJHQOLHI 6FKQHOO]XP5DXPKDIHQULHIHULKP]X(UOHJWHVLHKIODFKDXIGHP5FNHQGHV3IHUGHV KLHOW VLFK DQ VHLQHU 0lKQH XQG VSRUQWH HV ]X VFKQHOOHP *DORSS DQ %HJHLVWHUXQJ KDWWH LKQ HUJULIIHQ 1DFKHLQHU9LHUWHOVWXQGHHUUHLFKWHHU&DQGULGJH2KQHDQ]XKDOWHQZLFKHUYRQGHU6WUDH DEXQGJDORSSLHUWH]XP5DXPKDIHQ'UEHQDXIGHP/DQGHIHOGVWDQGGDV6FKLII(VZDUHLQ
.XJHOUDXPHUPLWIQI]HKQKXQGHUW0HWHUQ'XUFKPHVVHU+LQJVWULHEVHLQ3IHUGDQ(UVWDOVHU DXIGHQ%HWRQEHODJGHV+DIHQVNDPOLHHUHVLQOHLFKWHQ7UDEIDOOHQ ,Q GLHVHP $XJHQEOLFN EHJDQQHQ GLH 7ULHEZHUNH GHV 6FKLIIHV ]X GRQQHUQ *HLVWHVJHJHQZlUWLJ VWRSSWH +LQJV XQG VSUDQJ DE (U IDWH GDV 3IHUG EHL GHQ 1VWHUQ XQG YHUKLQGHUWHGDHVGLH)OXFKWHUJULII(UEHNDPPLWZLHYRQGHU6WDGWKHUHLQH*OHLWVFKHLEH GHQ5DXPHUDQIORJ'LH*HVWDOWDXILKUZXUGHGXUFKGLH'UXFNZHOOH KHUDEJHIHJWXQGVFKOLWWHUWHEHUGHQ%RGHQZlKUHQGGLH6FKHLEHZHLWHUIORJXQGVHLWOLFK JHJHQGHQ5DQGGHV)OXJKDIHQVUDVWH 'DV6FKLIIVWDUWHWH(VKDWWHNHLQH0DVFKLQHQDXVJHODGHQ1LHPDQGKDWWHVLFKJH]HLJW2KQH HLQH%RWVFKDIWYHUOLHHV:RRPHUDVWLHJLQGHQ+LPPHOKLQDXIXQGYHUVFKZDQGDOVEDOGDXV GHQ$XJHQ 0LWKlQJHQGHQ6FKXOWHUQOLH+LQJVGDV3IHUGVWHKHQXQGHLOWHKLQEHU]XGHU*HVWDOWGLH VLFK HUKRE (V ZDU 3DNLQWDP *UD\ 'HU &KLHI 2EVHUYHU KDWWH ]ZHL 6FKUDPPHQ DQ GHQ (OOHQERJHQXQGHLQH%HXOHDQGHU6WLUQ+LQJVEHJDQQZLHHLQ5RKUVSDW]]XIOXFKHQ 6RHLQ6FKZHLQHKXQGODQGHWXQGIOLHJWHLQIDFKZLHGHUGDYRQEUOOWHHU:DVGHQNWGHU VLFKHLJHQWOLFK" *UD\]XFNWHPLWGHQ6FKXOWHUQ :HUZHLZDVGHUKLHUJHZROOWKDWVDJWHHU$EHUHVZDUHLQ*$9g.6FKLII'DVKDEH LFKJHQDXJHVHKHQ$EHUZDVLVWGDV" 6LH EOLFNWHQ KLQEHU DXI GHQ 3ODW] ZR GHU 5DXPHU JHVWDQGHQ KDWWH 6LH VDKHQ HLQ NOHLQHV .lVWFKHQGDVLKQHQELVKHUHQWJDQJHQZDU(VVWDQGJDQ]LQGHU1lKHGHU/DQGHSODWWIRUP GLH QRFKLPPHUGDPSIWHREZRKOVLHDXWRPDWLVFKJHNKOWZXUGH :DVPDJGDVVHLQ" 6LH VFKULWWHQ KLQEHU +HLH /XIW ZHKWH LKQHQ HQWJHJHQ DEHU VLH LJQRULHUWHQ VLH 9RU GHP *HJHQVWDQG EOLHEHQ VLH VWHKHQ 'DV .lVWFKHQ ZDU DXV +RO] XQG QLFKW JU|HU DOV HLQH 6FKXKVFKDFKWHO9RUVLFKWLJEHlXJWHQVLHGDV'LQJ :LUVROOWHQXQV]XUFN]LHKHQZDUQWH5HGGHU+LQJV(VN|QQWHHLQH%RPEHVHLQ :R]XVROOWHXQVGLH*$9g.HLQH%RPEHVFKLFNHQ"EUDXVWH*UD\DXI 'XKDVWUHFKWgIIQHQZLUHV" *UD\QDKPGDV.lVWFKHQYRUVLFKWLJDXIXQGZRJHV(VZDUIHGHUOHLFKW :LUQHKPHQHVPLWLQGLH6WDGWHQWVFKLHGHU'RUWPDFKHQZLUHVDXI *HPHLQVDPYHUOLHHQVLHGDV/DQGHIHOGDXIGHPMHW]WDXFK-HIIHUVRQDXIWDXFKWH(UPDFKWH JHUDGH NHLQ JHLVWUHLFKHV *HVLFKW DOV HU GLH EHLGHQ 0lQQHU PLW GHP .lVWFKHQ VDK $EHU HU VWHOOWHNHLQH)UDJHQ
*HPHLQVDPWUXJHQVLHGDV'LQJELV]X*UD\V+DXV,Q]ZLVFKHQZDUGLH=DKOGHU0HQVFKHQ GLHLQGLH6WDGW]XUFNJHNHKUWZDUHQDXIHWZD]ZDQ]LJDQJHZDFKVHQ6LHXPVWDQGHQ+LQJV XQG *UD\ XQG VWDUUWHQ PLW JHPLVFKWHQ *HIKOHQ DXI GDV .lVWFKHQ :DU HV HWZDV *H IlKUOLFKHV"
7UHWHW ELV KLQWHU GLH +DXVHFNH ]XUFN VDJWH +LQJV 'LH 0HQVFKHQ EUDFKWHQ VLFK LQ 6LFKHUKHLW/DQJVDPEHJDQQ*UD\DQGHP'HFNHO]X]LHKHQ(UOLHVLFKPKHORV|IIQHQ(LQ $KNDPEHU+LQJV /LSSHQ'DV.lVWFKHQZDUOHHUELVDXIHLQHQNOHLQHQ=HWWHOHLQH)ROLH DXIGHULQ,QWHUNRVPRPHKUHUH6lW]HVWDQGHQ3DONLQWDP*UD\QDKPVLHKHUDXV (VLVWDOOHVLQ2UGQXQJULHIHU,KUN|QQWKHUNRPPHQ 6LH VWDUUWHQ DXI GLH )ROLH XQG *UD\ EHJDQQ ]X OHVHQ 'LH *$9g. KDW XQV YRQ ,KUHQ 3UREOHPHQ EHULFKWHW VWDQG GDUDXI :LU WHLOHQ ,KQHQ PLW GD GLH YRQ ,KQHQ EHQ|WLJWHQ 0DVFKLQHQXQG*HUlWHLQJHQDXGUHL:RFKHQJHOLHIHUWZHUGHQ:LUHPSIHKOHQXQV,KQHQDXFK IU DOOH ZHLWHUHQ $UWLNHO DQ GHQHQ 6LH EHVWLPPW )UHXGH KDEHQ ZHUGHQ +REE\%DVDU 7DUJULIIH $XIGHU5FNVHLWHHQWKLHOWGLH)ROLHHLQH$XIVWHOOXQJGHUZLFKWLJVWHQ$QJHERWHXQG6HWVGHV
%DVDUV +REE\%DVDUZDVLVWGDV"IWDJWH-HIIHUVRQYHUZXQGHUW ,FK KDEH VFKRQ GDYRQ JHK|UW VDJWH *UD\ 'DV LVW LUJHQGHLQ DOWHU 0DQQ GHU PLW HLQHP PLQLPDOHQ $XIZDQG DQ (LQVDW] HLQHQ 9HUVDQG IU 'LQJH ]XP 6HOEVWEDXHQ DXV GHP %RGHQ JHVWDPSIWKDWXQGGDPLWXQZDKUVFKHLQOLFKH(UIROJHHU]LHOW (UOLHIHUWXQVDOVRGLH(LQ]HOWHLOHXQGZLUPVVHQVLHVHOEVW]XVDPPHQEDXHQ" -D'DVKDWGHQ9RUWHLOGDHVXQVELOOLJHUNRPPWDOVZHQQZLUGLH0DVFKLQHQYRQ2O\PS NDXIHQPWHQ 'LH 0HQVFKHQ DWPHWHQ DXI 'LH 6SDQQXQJ O|VWH VLFK LQ )U|KOLFKNHLW6LH VROOWHQ DOVR GRFK QRFK LKUH 0DVFKLQHQ HUKDOWHQ 'LH (UQWH ZDU JHUHWWHW :RRPHUD NRQQWH VHLQHQ DOWHQ 9HUSIOLFKWXQJHQ ZLHGHU QDFKNRPPHQ %RWHQ ULWWHQ DXV XQG YHUNQGHWHQ GLH 1HXLJNHLW 'LH 0HQVFKHQNHKUWHQYRQGHU$UEHLW]XUFN6LHZUGHQZDUWHQELVGLH0DVFKLQHQHLQJHWURIIHQ ZDUHQ 8QG SQNWOLFK QDFK GUHL :RFKHQ ODQGHWH HLQ 5DXPHU $XI VHLQHP 5XPSI SUDQJWH LQ OHXFKWHQGHQ %XFKVWDEHQ GHU 1DPH &+,/'$ 1LHPDQG ZXWH XP GLH %HGHXWXQJ GLHVHV 1DPHQVDXHUGHP.RPPDQGDQWHQVHOEVW3\RQ$U]DFKHQDNDPSHUV|QOLFKQDFK:RRPHUD XP GLH 0DVFKLQHQ ]X EHUJHEHQ XQG GLH 0HQVFKHQ LQ GLH 7HFKQLN LKUHV =XVDPPHQEDXV HLQ]XZHLVHQ 8QG QHEHQ GHQ /DQGPDVFKLQHQ YHUNDXIWH HU HLQH 9LHO]DKO VHLQHU QHXHQ $OO]ZHFNVFKZHEHUXQG+DXVKDOWVJHUlWH GLHGHQ0HQVFKHQDXI:RRPHUDEHLHLQHPVFKQHOOHQ :LHGHUDXIEDXEHKLOIOLFKZDUHQ'HU3ODQHWJHODQJWHLQQHUKDOEZHQLJHU0RQDWH]XDOWHU%OWH )U 3\RQ .DNWXV $U]DFKHQD XQG $OEDQ (JJKHDG³ 9LVERQH ELOGHWH :RRPHUD GHQ $XIWDNW ]X HLQHU QHXHQ (SRFKH LQ GHU (QWZLFNOXQJ LKUHU )LUPD 'HU +REE\%DVDU HUKLHOW QHXHQ$XIWULHEGLH*\V9RROEHHUDKDUEHLWHWHQZLHGLH%HVHVVHQHQXPGLH/LHIHUIULVWHQHLQ KDOWHQ]XN|QQHQ1HXH 7HFKQLNXQG'HVLJQVKLHOWHQLKUHQ(LQ]XJLQGHU0LOFKVWUDH7URW] GHU $QZHVHQKHLW GHU /RRZHU DXI GHP 0DUV VWDELOLVLHUWH VLFK GLH ZLUWVFKDIWOLFKH /DJH ODQJVDP 1LHPDQG ZDU JOFNOLFKHU GDUEHU DOV GLH EHLGHQ 7HLOKDEHU GHV %DVDUV XQG PLW LKQHQ GLH 6FKQHHIORFNHQ GLH HLQHQ VR KHUYRUUDJHQGHQ %HLWUDJ OHLVWHWHQ GD -XLODQ 7LIILRU IU HLQHQ 6SUXQJ QDFK 7DUJULIIH NDP XQG VLFK PHKUHUH 6WXQGHQ PLW *HU]LHOO XQG VHLQHQ %UGHUQ XQWHUKLHOW'DQQHLOWHGHU(UVWH7HUUDQHUZHLWHU(VJDEQRFKJHQXJ3UREOHPH
$P6HSWHPEHUGLH(QWZLFNOXQJDXI:RRPHUDKDWWHVLFKQRUPDOLVLHUWELOGHWHVLFK QDKHGHU6RQQH3U]\ELOHLQ*UDYLWDWLRQVUL'LH]ZHLWH%HEHQZHOOHIRUGHUWHLKUH2SIHU'HU 3ODQHW:RRPHUD,,ZXUGHLQGHQ6WXQGHQGHV0RUJHQJUDXHQV]HUVW|UW
'LH5FNNHKUGHV=DXEHUHUV
+LYDU*RURQNRQOLHIJHVHQNWHQ+DXSWHVGLH6WUDHHQWODQJ %DVWDUG%DVWDUGNUHLVFKWHQGLHDQGHUHQ.LQGHUKLQWHULKPKHU:RKDVWGXGHQQGHLQHQ 9DWHU"+DVWGXEHUKDXSWHLQHQ" +LYDUOLHIVFKQHOOHUDEHUGLH.LQGHUIROJWHQLKP6HOEVWDOVHU]XUHQQHQEHJDQQOLHHQVLH QLFKWORFNHU =ZHUJ ZDV HLOVW GX VR" HUNODQJ GHU VS|WWLVFKH &KRU DXV ]ZHL 'XW]HQG .LQGHUVWLPPHQ %LVGXDXIGLH1DVHIlOOVW +LYDUJDENHLQHQ/DXWYRQVLFK(UVDKYHUELVVHQ]X%RGHQXQGYHUVXFKWHJOHLFKPlLJ]X DWPHQ(WZDHLQHQ.LORPHWHUKDWWHHUQRFKYRUVLFKELVHUGDKHLPZDU 'LH .LQGHU YHUVWlQGLJWHQ VLFK NXU] 'DQQ WHLOWHQ VLH VLFK GLH +lOIWH VFKZHQNWH LQ HLQHa 6HLWHQJDVVHHLQXQGUDQQWHDOVJLQJHHVXPLKU/HEHQ6LHYHUVXFKWHGLHDQGHUH*UXSSH]X EHUKROHQ XQG +LYDU GHQ :HJ DE]XVFKQHLGHQ 'HU -XQJH PHUNWH QLFKWV GDYRQ (U VDK QLFKW
]XUFN )QI 0LQXWHQ VSlWHU KDWWH HU VHLQ =XKDXVH IDVW HUUHLFKW DOV HU YRU VLFK 6WLPPHQ K|UWH .QDEHQ XQG 0lGFKHQ DOOH JU|HU DOV HU GRFK LP VHOEHQ $OWHU NDPHQ DXV HLQHU *DVVH KHUYRUXQGVFKQLWWHQLKPGHQ:HJDE9HU]ZHLIHOWEOLFNWH+LYDU]XGHP'DFKJLHEHOKLQEHU GHU]ZLVFKHQGHQDQGHUHQ+lXVHUQKHUYRUUDJWHXQGVHLQaHOZDU(UVFKOXJHLQHQ+DNHQXQG UDQQWH]ZLVFKHQ]ZHL+lXVHUKLQHLQZRHUGHQ%OLFNHQGHU.LQGHUHQW]RJHQZDU(UUDQQWH GHQ:HJ]XP.DXIPDQQKLQEHU$WHPORVVWU]WHHULQGHQ/DGHQXQGYHUNURFKVLFKKLQWHU GHP/DGHQWLVFK +HUWLJR $UHQG NDP DXV GHU +LQWHUNDPPHU KHUEHL %HVWU]W EOLHEHQ VHLQH $XJHQ DQ GHP -XQJHQKlQJHQGHUZHLQHQGKLQWHUGHP7UHVHQNDXHUWH +HOIHQ 6LH PLU 0HLVWHU $UHQG VFKOXFK]WH +LYDU 'LH .LQGHU ZOOHQ PLFK ZLHGHU VFKODJHQ $UPHU -XQJH VDJWH GHU .DXIPDQQ (U ZXWH XP GDV 6FKLFNVDO GHV %XEHQ XQG VHLQHU 0XWWHU:HQQEORGHLQ9DWHUEDOG]XUFNNlPH (U]RJLKQLQGLH+LQWHUNDPPHUXQGVHW]WHLKQDXIHLQHQ6WXKO'UDXHQLP)UHLHQVWUHXQWHQ GLH .LQGHU XPKHU XQG VXFKWHQ +LYDU (U K|UWH LKUH 5XIH XQG VWHOOWH VLFK LKUH JHOEEUDXQHQ *HVLFKWHUYRUZLHVLHVLFKlUJHUWHQGDHULKQHQHQWNRPPHQZDU :DUWHKLHUVDJWH$UHQGLFKZHUGHQDFKGHLQHU0XWWHUVFKLFNHQGDVLHGLFKDEKROW (UHLOWHGDYRQZlKUHQGGHU-XQJH]LWWHUQGVLW]HQEOLHE.XU]GDUDXIVFKORVHLQH0XWWHULKQ LQ LKUH $UPH XQG EUDFKWH LKQ KHLP +LYDU KHXOWH LQ HLQHP IRUW $OLWD *RPPHUGKH VFKWWHOWH GHQ.RSI 6RNDQQHVQLFKWZHLWHUJHKHQVDJWHVLHYHUELWWHUW,FKODVVHPLUGDV/HEHQPHLQHV6RKQHV QLFKWUXLQLHUHQ 6LHZROOHQPLFKLPPHUYHUSUJHOQZHLQWH+LYDU$OLWDHULQQHUWHVLFKDQGLH=HLWYRUVHFKV -DKUHQ'DPDOVKDWWHVLHHLQHQ0DQQNHQQHQJHOHUQWHLQHQ5XG\QHUYRQNOHLQHP:XFKVDEHU EHHLQGUXFNHQGHPbXHUHQ'HU0DQQVFKDIIWHHVVLFKEHLLKULQVUHFKWH/LFKW]XVHW]HQ(U ]RJ EHL $OLWD HLQ XQG OHEWH HLQH =HLW PLW LKU ]XVDPPHQ 'DEHL PHUNWH VLH VHKU EDOG GD HU LPPHUXQUXKLJHUZXUGHMHOlQJHUHUEHLLKUEOLHE6HLQHLQQHUH8QUXKHEHUWUXJVLFKEDOGDXI VHLQ lXHUHV *HEDUHQ (U ZXUGH DJJUHVVLY XQYHUVFKlPW VWHOOWH )RUGHUXQJHQ GLH $OLWD QLH HUIOOHQNRQQWH(UZROOWHVLHPLWQHKPHQDXIVHLQHJURH5HLVH6HLQ0DQDJHUKDWWHLKPGHQ 9HUWUDJIUHLQHQHXH7RXUQHHEHVRUJW (VLVWJHIlKUOLFKKDWWHVLHGDPDOVJHUXIHQ'LH/DJHLQGHU0LOFKVWUDHLVWXQGXUFKVLFKWLJ VHLW5KRGDQ(UVWHU+HWUDQJHZRUGHQLVW%OHLEGD 6LHKDWWHQXUHLQ/DFKHQJHHUQWHW ,FKELQ=DXEHUHUKDWWHHULKUJHDQWZRUWHW,FKPXDUEHLWHQ 'HQNHDQGDV.LQGGDVEDOGJHERUHQZLUG$OSDU(UZDUVFKZHLJHQGKLQDXVJHJDQJHQ $OLWD VDK DXI GHQ /RFNHQNRSI LKUHV 6RKQHV KLQDE +LYDU ZDU IQI 6HLQH $OWHUVJHQRVVHQ KlQVHOWHQLKQREVHLQHVNOHLQHQ:XFKVHVGHQHUYRQVHLQHP9DWHUKDWWHGHQHUQLFKWNDQQWH 6LHYHUVSRWWHWHQLKQZHLOGLHVHU9DWHUQLHQDFK+DXVHJHNRPPHQZDUVRODQJH+LYDUOHEWH $OLWD *RPPHUGKH WUDWHQ 7UlQHQ LQ GLH $XJHQ 6LH KDWWH HV ELVKHU QLFKW EHU GDV +HU] JHEUDFKW HV LKUHP 6RKQ ]X HUNOlUHQ GD HU NHLQHQ 9DWHU PHKU KDWWH GD GLHVHU VHLW VHFKV -DKUHQWRWZDU6LHZXWHGDGHUNOHLQH+LYDUGLHVH1DFKULFKWVHHOLVFKQLFKWYHUNUDIWHWKlWWH (UEUDXFKWHQLFKWVPHKUDOVHLQHQ9DWHU $OLWDYHUJLQJIDVWYRU/LHEH]XLKUHP6RKQ:HQQHUNHLQHQ9DWHUPHKUKDWWHVRPXWHVLH LKPHLQHQYHUVFKDIIHQZHQQDXFKQLFKWN|USHUOLFKVR]XPLQGHVWJHLVWLJ 'HLQ9DWHULVWHLQJURHU0DQQVDJWHVLH(UDUEHLWHWLQGHUK|FKVWHQ6SLW]HGHU+LHUDUFKLH GHV 0HQVFKHQUHLFKV 6HLW GHP 3DNW PLW GHQ /DUHQ XQG GHU $EVHW]XQJ 3HUU\ 5KRGDQV YRP $PW GHV (UVWHQ +HWUDQV KDW GHLQ 9DWHU NHLQH =HLW QDFK +DXVH ]X NRPPHQ $EHU HV ZLUG UXKLJHUH=HLWHQJHEHQ'DQQZLUVWGXLKQZRFKHQODQJIUGLFKKDEHQXQGGLHDQGHUHQ.LQGHU ZHUGHQGLFKQLFKWPHKUYHUVSRWWHQ +LYDUV 0LHQH KHOOWH VLFK VLFKWEDU DXI (U VFKOXFNWH PHKUPDOV ZlKUHQG GLH XQJODXEOLFKVWHQ
*HGDQNHQ GXUFK VHLQHQ .RSI VFKRVVHQ 6HLQ 9DWHU ZDU DOVR HLQ EHUKPWHU 0DQQ (U ZDU PHKUDOVDOOH9lWHUMHQHU.LQGHUGLHLKQLPPHUKlQVHOWHQXQGLKPZHKWDWHQ ,FKZHUGHLKQHQHU]lKOHQZDVPHLQ9DWHULVWULHIHUDXV6LHVROOHQLQ=XNXQIW$FKWXQJ YRU PLU KDEHQ $EHU $OLWD YHUERW LKP MHPDQGHP YRQ VHLQHP 9DWHU ]X HU]lKOHQ 1LHPDQG GXUIWHYRQGLHVHP*HKHLPQLVWUlJHUZLVVHQ'LH0XWWHUJDE+LYDUHLQ%LOG(V]HLJWHHLQHQ NDKON|SILJHQ 0DQQ PLW GHU JHOEOLFKEUDXQHQ +DXWIDUEH DOOHU 5XG\QHU 'DV *HVLFKW XQG GLH 1DVH ZLUNWHQ EHHLQGUXFNHQG IOHLVFKLJ HLQ GLFKWHU VFKZDU]HU /RFNHQEDUW XPUDKPWH GDV *HVLFKW XQG YHUOLHK VHLQHP %HVLW]HU HWZDV 0DJLVFKHV 'LH $XJHQ EOLFNWHQ YROHU *XWPWLJNHLWGUHLQ 9DWHUKDWHLQHWLHIH6WLPPHXQGODFKWJHUQVDJWH$OLWD +LYDU*RURQNRQZDUWUDXULJ(UKDWWHGDV%LOGVHLQHV9DWHUVLQGHU+DQGDEHUHUGXUIWHHV QLHPDQGHP]HLJHQ1LHPDQGGXUIWHZLVVHQZHUGLH)DPLOLHGHVHLQIOXUHLFKHQ0DQQHVZDU 0DQKlWWHVLHVRQVWHQWIKUWXQGGHQ9DWHUHUSUHVVW 1XUVFKZHUNRQQWHGHU-XQJHGDVYHUVWHKHQ(UVDKGLHKlPLVFKHQ*HVLFKWHUGHU.LQGHUYRU VLFK GLH LKQ QDFK VHLQHP 9DWHU IUDJWHQ :DV VROOWH HU DQWZRUWHQ" =ZDU ZXWH HU MHW]W GLH :DKUKHLWEHULKQHUGXUIWHVLHQXUNHLQHP0HQVFKHQPLWWHLOHQ1LFKWVlQGHUWHVLFKDQGHP =XVWDQGDXHUVHLQHP%HZXWVHLQGDHUHLQHQEHUKPWHQ9DWHUKDWWH $OOWD *RPUQHUGKH UDQJ PLW VLFK QDFK HLQHP (QWVFKOX 6LH ZXWH GD GHU -XQJH QLFKW LQ GLHVHP =ZLHVSDOW JUR ZHUGHQ GXUIWH ZHQQ QLFKW HLQ VHHOLVFKHU .USSHO DXV LKU ZHUGHQ VROOWH(VZDUHLQHUGHU0lQQHUGHU6WDGWGHULKUVFKOLHOLFKGHQ(QWVFKOXOHLFKWPDFKWHGHQ VLHEHUHLWVKDOEJHIDWKDWWH 9RVNHU 3OR\G ZDU /HKUHU (U WUDI $OLWD LQ HLQHP *HVFKlIW GDV YRQ *HVLQWXU HLQHP hEHUVFKZHUHQ JHIKUW ZXUGH 'LH 9ROO]XJVWUXSSHQ GHU /DUHQ KDWWHQ DXI 5XG\Q PHKUHUH NOHLQH6WW]SXQNWHDQJHOHJW*HVLQWXUZDUHLQHULKUHU$JHQWHQ6LHKLHOWHQGLH:LUWVFKDIWGHV 3ODQHWHQ YROO LQ LKUHQ +lQGHQ XQG EHVWLPPWHQ EHU MHGHV *UDPP :DUH GDV GHQ 3ODQHWHQ YHUOLHRGHUJHOLHIHUW ZXUGH 3LR\G ZHFKVHOWH IUHXQGVFKDIWOLFKH :RUWH PLW *HVLQWXU DOV $OOWD GDV *HVFKlIW EHWUDW (U ZDQGWHVLFKXPXQG]RJGLH$XJHQEUDXHQLQGLH+|KH 6LHKDQGLH*HOLHEWHGHV=DXEHUHUVODFKWHHU$OLWDHUEOHLFKWH ,FKKDEHJHK|UWGHLQ%DVWDUGZLUGYRQGHQDQGHUHQ.LQGHUQQLFKWDN]HSWLHUW(UZLUGMD EDOGLQGLH6FKXOHNRPPHQ,FKZHUGHNHLQHDQGHUH:DKOKDEHQDOVGLH.LQGHUEHUVHLQHQ 9DWHUDXI]XNOlUHQ 'X KDVW NHLQ 5HFKW GD]X EHU VHLQHQ 9DWHU ]X UHGHQ HQWJHJQHWH $OLWD PLW ]LWWHUQGHU 6WLPPH:DVZHLWGXVFKRQYRQLKP 'D HU HLQ 9HUEUHFKHU ZDU ULHI 3OR\G JLIWLJ *HVLQWXU EHREDFKWHWH GLH 6]HQH DXIPHUNVDP$OLWDNHKUWHDXIGHP$EVDW]XP6LHZROOWHGLHVHP8QKROGQLFKW]HLJHQGDLKU 7UlQHQLQGLH$XJHQWUDWHQ6RVFKQHOOVLHNRQQWHYHUOLHVLHGDV(LQNDXIVYLHUWHOXQGNHKUWH LQLKU+DXV]XUFN3OR\GZDUVNUXSHOORV(UZUGHQLFKW]|JHUQVHLQ:LVVHQSUHLV]XJHEHQ HJDOREHUGDPLWGLH([LVWHQ]]ZHLHU0HQVFKHQYHUQLFKWHWH8QGGDVVFKLPSIWHVLFK/HKUHU 6LHPDFKWHVLFKDXIGHQ:HJ]XU:RKQEHK|UGH$XFKKLHUEHJHJQHWHVLHh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lQQHUPLWGHP %LOGGDVHUKDWWH6HLQHQ9DWHUHQWGHFNWHHUQLUJHQGZR (U LVW VR ZLFKWLJ GD HU VLFK LPPHU LP +LQWHUJUXQG KDOWHQ PX XQG VWlQGLJ EHZDFKW ZLUGHUNOlUWH$OLWDLKP
+LYDUZXUGHHUZDFKVHQXQGEHJDQQQDFK]XGHQNHQ$EHUHVJDENHLQ9HUGDFKWVPRPHQWLQ GHU(U]lKOXQJVHLQHU0XWWHU(QWZHGHUZDUVHLQ9DWHUWDWVlFKOLFKHLQHUGHU0lQQHUGLHDXV GHP 9HUERUJHQHQ KHUDXV GLH *HVFKLFNH GHU 0LOFKVWUDH OHQNWHQ RGHU DOOHV ZDU HLQH JURDQJHOHJWH /JH 'HU MXQJH *RURQNRQ OLHEWH VHLQH 0XWWHU XQG JODXEWH LKU (U ZDU VLHE]HKQDOVHUHLQHQ%ULHIRKQH$EVHQGHUHUKLHOW(UZDUNXU]DEHUVHLQ,QKDOWZDUI+LYDU DXVGHU%DKQ 'HLQ 9DWHU $OSDU ZDU HLQ 9HUUlWHU DQ GHU 0HQVFKKHLW XQG ZXUGH LP -DKU YRQ $QJHK|ULJHQGHU6RO$EJHW|WHW(LQ)UHXQG +LYDU JODXEWH QLFKW GD GHU $EVHQGHU HLQ )UHXQG ZDU (KHU HLQ )HLQG GHU VLFK GLH /DJH ]XQXW]H PDFKWH 7URW]GHP EHJDQQHQ =ZHLIHO LQ LKP ]X QDJHQ 6HLQH 0XWWHU ZLFK VHLQHQ GLUHNWHQ)UDJHQDXV(LQHV1DFKWVIDWHHUVHLQHQ(QWVFKOX(UOHJWHGHQ%ULHIRIIHQDXIGHQ 7LVFKQDKPGDV%LOGDQVLFKXQGYHUOLHGHQ.RQWLQHQW(UKHXHUWHDXIHLQHP)UDFKWVFKLIIDQ XQGIORJLQGDV$OOPLWGHP=LHO*HZLKHLWEHUVHLQHQ9DWHU]XHUKDOWHQ1LHPHKUNHKUWH +LYDUQDFK5XG\Q]XUFN .RPPWDOOH]XP*URHQ+DXVULHIGHU%RWHQOlXIHUXQGUDQQWHDWHPORVGXUFKGLH*DVVHQ 6HLQ8PKDQJZHKWHZLHHLQH)DKQHQHEHQLKPKHU $XV GHQ +lXVHUQ HLOWHQ GLH 0lQQHU XQG )UDXHQ MXQJH XQG DOWH 6LH EUDFKWHQ LKUH .LQGHU PLW'LH*UHLVHXQG*UHLVLQQHQVWW]WHQVLFKDXIGLHMQJHUHQRGHUKXPSHOWHQDQ6W|FNHQ .RPPW DOOH ]XP *URHQ 0HLVWHU ULHI GHU /lXIHU (U KDW HXFK HLQH %RWVFKDIW ]X YHUNQGHQ 'LH 0HQVFKHQ VWU|PWHQ GLH *DVVHQ KLQDXI YRQ GHU DQGHUHQ 6HLWH NDPHQ VLH LQ GLFKWHQ 7UDXEHQGLH*DVVHQKHUXQWHUGLHYRQGHQ+lXVHUQDP%HUJKDQJLQGDV=HQWUXPGHU6LHGOXQJ IKUWHQ 6LH WUDIHQ VLFK DXI GHP ZHLWHQ 3ODW] YRU GHP *URHQ +DXV XQG YHUVFKPRO]HQ ]X HLQHUVFKZHLJHQGHQHUZDUWXQJVYROOHQ0HQJH 9RP 7XUP GHV +DXVHV LQ GHP GHU 0HLVWHU ZRKQWH HUNODQJ HLQ KHOOHU *RQJ 'DV KRKH 3RUWDO|IIQHWHVLFK%HJOHLWHWYRQ]ZHL'LHQHUQWUDWGHU*URH0HLVWHUKHUDXVXQGYHUKDUUWH PLW HUKREHQHQ +lQGHQ 5RJHU 0DPXOLDQ GHU JU|WH 0DJLHU GHV 8QLYHUVXPV OLH VHLQH $XJHQEHUGLHYHUVDPPHOWHQ0HQVFKHQVFKZHLIHQ$OOHZDUHQVLHJHNRPPHQYRP6lXJOLQJ ELV]XP*UHLV ,PSXOVLY OLH 0DPXOLDQ VHLQH +lQGH VLQNHQ (U QDKP GLH )DOWHQ VHLQHV ODQJHQ *HZDQGHV DXIXQGVFKULWWHLIULJGLH6WXIHQKLQDE'LH0HQVFKHQPDFKWHQLKPHKUIUFKWLJ3ODW](UJLQJ ]XGHQ.LQGHUQOHJWHLKQHQGLH+lQGHDXIVSUDFKHLQSDDUIUHXQGOLFKH:RUWH]XGHQ(OWHUQ 'DQQVHJQHWHHUGLH$OWHQOREWHVLHIULKUH9HUJDQJHQKHLW9RQGHQ6HJHQVZQVFKHQVHLQHU $QKlQJHUEHJOHLWHWNHKUWHHUDXIVHLQHQ3ODW]YRUGHP3RUWDO]XUFNKRFKEHULKQHQ6HLQ ZHLHV*HZDQGOHXFKWHWHKHOOYRUGHUGXQNOHQgIIQXQJ *HVWHUQ ZXUGH GHU *UXQGVWHLQ IU KHXWH JHOHJW YHUNQGHWH GHU *URH 0HLVWHU ODXW (U VSUDFKRKQH0LNURIRQ6HLQH:RUWHJHODQJWHQDEHUELVDQGLH2KUHQGHUIDVW7DXEHQ+HXWH ZROOHQZLUGHQ*UXQGVWHLQIUPRUJHQOHJHQ 6SULFK ]X XQV ULHI GDV 9RON 8QG 5RJHU 0DPXOLDQ VSUDFK (U HU]l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lQGHQHLQHDOOXPIDVVHQGH*HVWH 8QGVLHLVWQLFKWVWDUNJHQXJGHUQlFKVWHQ9HUVXFKXQJ]X ZLGHUVWHKHQ1HXH3UIXQJHQ
ZHUGHQDXIVLH]XNRPPHQDEHUVLHZLUGVLHYHUDFKWHQ:LUDOOHLQVLQGLQGHU/DJHXQVGHU =XNXQIW ZUGLJ ]X HUZHLVHQ :LU DOOHLQ 'DV 9RON +DUHWDQQLV ZLUG GHU *DOD[LV GHQ HQG JOWLJHQ)ULHGHQEULQJHQ 6RVHLHVULHIGLH0HQJHZLHPLWHLQHU6WLPPH6LHNQLHWHQLHGHUXQGHPSILQJGHQ6HJHQ GHV *URHQ 0HLVWHUV 0LW JHQHLJWHP +DXSW YHUKDUUWH VLH ELV 0DPXOLDQ GDV /LHG YRP .UHX]]XJDQVWLPPWH =LHKHWKLQDXVLKU9|ONHUPLW)ODPPHXQG6FKZHUW6LHZDUWHWHELV GHUREHUVWH3ULHVWHULKUHV9RONHVLQGHUGXQNOHQgIIQXQJGHV3RUWDOVYHUVFKZXQGHQZDUXQG GLHVHVVLFKVFKOR'DQQNHKUWHQGLH0HQVFKHQLQLKUH+lXVHU]XUFN(UKDWWHJHVSURFKHQ 6HLQH:RUWHZUGHQ:DKUKHLWZHUGHQ (LQHQ 7DJ VSlWHU EHJDQQHQ GLH 3ULHVWHU GHV *URHQ 0HLVWHUV LKUHQ 8PJDQJ 6LH ]RJHQ DXV EHVXFKWHQ MHGHV 'RUI MHGHV +DXV XQG VSUDFKHQ YRQ GHU =XNXQIW GLH GDV 9RON +DUHWDQQLV HUKDOWHQ ZUGH6LHHU]lKOWHQYRQORGHUQGHQ5DXPVFKLIIHQ XQGPlFKWLJHQ)HXHU]XQJHQGLH GHQ %HJLQQ XQG GDV (QGH GHU 3UIXQJHQ DQ]HLJHQ ZUGHQ %HJHLVWHUXQJ XQG (XSKRULH EHILHOHQGLH+DUHWDQQL6LHZDUHQGDVDXVHUZlKOWH9RONXQG0DPXOLDQLKU3URSKHW8QGGDQQ NDPGDVZDVVLHDOOHHUZDUWHWKDWWHQGDHVYRQGHQ3ULHVWHUQJHVDJWZRUGHQZDU $P +LPPHO HQWVWDQG GDV OHXFKWHQGH $EELOG GHV *URHQ 0HLVWHUV (V EHZHJWH VLFK 'LH +DDUHIODWWHUWHQLP:LQG6HLQH'RQQHUVWLPPHHUUHLFKWHMHGHQ:LQNHOGHV3ODQHWHQ 'LH3UIXQJKDWEHJRQQHQULHIGLH6WLPPHDXVGHU/XIW(LOWGDLKUQLFKW]XVSlWNRPPW 6HKWGHU$XVHUZlKOWHZDUWHWDXIHXFK(UEHGDUIHXUHU'LH(UO|VXQJQDKW 'DV9RONGHV3ODQHWHQ+DUHWDQQLOLHVHLQH$UEHLWOLHJHQXQGVWHKHQXQGPDFKWHVLFKDXI]XP *URHQ+DXVGHP7HPSHOGHV0HLVWHUV0LOOLRQHQ0HQVFKHQODJHUWHQLQXQGXPGLH6WDGW GLH=HOWODJHUZXUGHQLPPHUJU|HU(LQHPlFKWLJH0DVFKLQHWLHIXQWHUGHU(UGHOLHIDQXQG SURGX]LHUWHGLH9HUVRUJXQJVJWHUIUGLH*OlXELJHQ6LHHUKLHOWHQDXVUHLFKHQG1DKUXQJXQG .OHLGHU 1LHPDQG IURU RGHU KXQJHUWH 'LH 0HQVFKHQ VDKHQ GLH 3ULHVWHU ]X LKUHQ 6FKLIIHQ KLQEHUZDQGHUQ ,P 0RUJHQJUDXHQ GHV YLHUWHQ 7DJHV OLH VLH HLQ ODXWHU 5XI YRU LKUH =HOWH HLOHQ +RFK EHU LKQHQ VFKZHEWH 5RJHU 0DPXOLDQ 6HLQH *HVWDOW GXUFKGUDQJ GLH :RONHQ XQG OHXFKWHWHEHUGDVJDQ]H/DQG 'LH3UIXQJHQKDEHQEHJRQQHQGRQQHUWHGLH6WLPPHGHV0HLVWHUVDXVGHQ/IWHQ(LQH )ORWWH IUHPGHU 5DXPVFKLIIH LVW LQ GLH 0LOFKVWUDH HLQJHGUXQJHQ 6LH KlOW GDV 6ROV\VWHP EHVHW]W XQG VWHOOW LKUH )RUGHUXQJHQ 'LH )UHPGHQ QHQQHQ VLFK /RRZHU 'DV LVW GLH HUVWH 3UIXQJ 'LH 0HQVFKHQ ODXVFKWHQ ZHLWHU 'LH *HVWDOW LKUHV 3URSKHWHQ HUORVFK 6LH NHKUWH ]XU (UGH ]XUFN0DPXOLDQWUDWKLQWHUHLQHP)HOVHQKHUYRUXQGVFKULWWDXIHLQHVGHUULHVLJHQ=HOWODJHU ]X9HUZXQGHUWVDKHQLKPGLH+DUHWDQQLHQWJHJHQ:DUXPJDEHUQLFKWVRIRUWGHQ%HIHKO]XP $XIEUXFK"+LHHVQLFKWGDGLH=HLWGDZDU" 'HU*URH0HLVWHUOLHVLFKEHLGHQ6WDPPHVIUVWHQQLHGHU (VLVWQRFKQLFKWDQGHU=HLWVDJWHHU'LH0HQVFKHQGHU0LOFKVWUDHZHUGHQJHSUIW6LH ZHUGHQYHUVDJHQ'DQQZHUGHQZLUDXV]LHKHQLKQHQGLH(UOHXFKWXQJ]XEULQJHQ 5XIHXQV+HUUDQWZRUWHWHQGLH6WDPPHVIUVWHQ:LUZDUWHQDXIGHLQ:RUW ,KU ZHUGHW PLFK HLQH :HLOH QLFKW VHKHQ YHUNQGHWH GHU 0HLVWHU 'DQQ DEHU ZHUGHW LKU PLFKZLHGHUVHKHQDQGHP7DJDQGHPGLHQHXH=HLWDXIEULFKW (UHUKREVLFKVHLQ*HZDQGZHKWHEHUGHQVDQGLJHQ%RGHQGHV/DJHUV(UVFKULWWGXUFKGLH 5HLKHQGHU0HQVFKHQKLQGXUFK'LH)UVWHQVDKHQLKPHKUIUFKWLJQDFK6LHYHUIROJWHQVHLQH *HVWDOWPLWLKUHQ%OLFNHQZLHVLHGDKLQVFKULWWXQGSO|W]OLFKYHUVFKZDQG(LQODXWHV6W|KQHQ JLQJ GXUFK GLH 5HLKHQ GHU 0HQVFKHQ 9HUHLQ]HOW VWLPPWHQ VLH *HEHWH XQG /LHGHU DQ %DOG HUNODQJGDV=HOWODJHUZLHHLQHLQ]LJHU&KRU
5RJHU 0DPXOLDQ KDWWH 6DQGDOHQ XQG 7RJD DEJHOHJW (U WUXJ MHW]W HLQH HLQIDFKH +RVH HLQ +HPG XQG 7XUQVFKXKH (U VDK VLFK LP 6SLHJHO ODFKWH EHU VHLQHQ HKUZUGLJHQ .RSI GHU RKQH+DDUHZDUGHQVFKZDU]HQ.UlXVHOEDUWGHUVHLQ*HVLFKWXPUDKPWHXQGELV]XP%UXVW
EHLQUHLFKWH(UYHUJOLFKLKQPLWGHP%LOGGDVDXIGHP7LVFKXQWHUGHP6SLHJHOVWDQG(V ZDU IDVW GDV JOHLFKH *HVLFKW .RSI XQG %DUW VWLPPWHQ Y|OOLJ EHUHLQ 1XU VHLQH :DQJHQ ZLUNWHQQLFKWVRIOHLVFKLJZLHGLHGHV$EELOGV6HLQH$XJHQZDUHQRIIHQHUXQGKHOOHUDOVGLH GHU)RWRJUDILH ,FKGDUIGLFKQLFKWYHUJHVVHQ9DWHUULHIHUDXV(UEOLFNWHHUQHXWLQGHQ6SLHJHOEHJDQQ VLFKVHOEVW]XK\SQRWLVLHUHQ(UVDKVHLQH$XJHQ6LHZXUGHQWUEIODFNHUQGGXQNOH5lQGHU ELOGHWHQ VLFK 6HLQ +DXSWKDDU ZXUGH YROO GHU %DUW YHUVFKZDQG 9RU LKP VWDQG HLQ MXQJHU 0DQQ PLW WUDXULJHP %OLFN XQG QHUY|VHP =XFNHQ LQ GHQ 0XQGZLQNHOQ 6HLQH *HGDQNHQ MDJWHQVLFK %DVWDUG%DVWDUGK|UWHHUGLHNUHLVFKHQGHQ6WLPPHQGHU.LQGHU:RKDVWGXGHQQGHLQHQ 9DWHU"=ZHUJZLOOVWGXDXIGLH1DVHIDOOHQ" (U VWLH HLQHQ 6FKUHL DXV XQG UDQQWH ORV (U EOLHE DP 7LVFK KlQJHQ GLH 7LVFKNDQWH GUFNWH VFKPHU]KDIWJHJHQVHLQH%UXVW'DV%LOGLP6SLHJHOYHUEODWH(UVDKVLFKVHOEVWPLWGHUYRQ 6FKZHLEHGHFNWHQ*ODW]HGLH$XJHQDQJVWYROODXIJHULVVHQGLH/LSSHQEHEHQG 1HLQPXUPHOWHHUVFKZDFK1HLQ(ULQQHUHPLFKQLFKWGDUDQ/DHVPLFKYHUJHVVHQGD LFK+LYDU*RURQNRQELQ%LWWH $EHU GDV 6SLHJHOELOG ZDU XQHUELWWOLFK 'LH (ULQQHUXQJ DQ VHLQHQ 9DWHU VFKOR DXV GD HU VHLQHHLJHQH,GHQWLWlWYHUGUlQJWH/DQJVDPZLFK5RJHU0DPXOLDQ]XUFNXQGVHW]WHVLFKDXI GHQ 5DQG HLQHV 6WXKOHV ZR HU LQ GXPSIHV *UEHOQ YHUILHO :LH ODQJH ZDU HU VFKRQ DXI +DUHWDQQL"(VPXWHQYLHOH-DKUHVHLQ-DKU]HKQWH2KQHGLHXQWHULUGLVFKH$QODJHGLHRKQH =ZHLIHOYRQGHQDOWHQ$UNRQLGHQVWDPPWHZlUHHUOlQJVWDOV6FKDUODWDQHQWODUYWZRUGHQ0DQ KlWWHLKQYHUMDJW1LFKWHLQPDOGLHJHULQJHQWHOHSDWKLVFKHQ)lKLJNHLWHQVHLQHV9DWHUVKDWWHHU JHHUEW 6R DEHU JHODQJ HV LKP GLH 0HQVFKHQ PLW LPPHU QHXHQ 7ULFNV LQ VHLQHQ %DQQ ]X VFKODJHQ6LHYHUHKUWHQLKQEHLQDKHVFKRQDOV,KUHQ*RWW 'HU *URH 0HLVWHU ZXWH QLFKW ZDUXP GLH 3RVLWURQLN GHU $QODJH LKQ DQHUNDQQWH (U DKQWH QLFKW GD VLH LKQ DOV KLOIVEHGUIWLJHQ )UHPGHQ HLQVWXIWH XQG XQWHUVWW]WH VRZHLW LKU GDEHL NHLQ6FKDGHQHUZXFKV(UKLQJVHLQHQ3OlQHQQDFK(UKDWWHGDV9RONGHV3ODQHWHQIUVHLQH 3OlQHHLQJHVSDQQW(UKDWWHHVELVMHW]WJHIKUWRKQHGDHVVLFKGHU%HYRUPXQGXQJEHZXW ZDU-HW]WKDWWHHUHVJHUXIHQ 0DPXOLDQ ZXWH LQ]ZLVFKHQ GD HU HLQHQ )HKOHU JHPDFKW KDWWH (U KDWWH YRUJHKDEW VLFK HLQHV7DJHVDXIGLH6HLWHHLQHVPlFKWLJHQ*HJQHUVGHU(UGH]XVWHOOHQDQVHLQHU6HLWHHLQHQ 6LHJIUVHLQ9RONXQGVHLQH5DFKH]XHUNl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lIWLJW GD HU GLH 1DFKULFKW IDVW EHUVHKHQ KlWWH 3O|W]OLFK EHUVFKZHPPWHQ XQYRUVWHOOEDUH )ORWWHQIUHPGHU .HLOVFKLIIH GLH 0LOFKVWUDH XQG EHGURKWHQ GLH0HQVFKHQLQLKU8QGPLWGHQ,QYDVRUHQGLHVLFK2UELWHUQDQQWHQJDEHVNHLQH(LQLJXQJ ,P *HJHQWHLO IRUGHUWHQ GLH (LQGULQJOLQJH GD DOOH 0HQVFKHQ GLH 0LOFKVWUDH ]X YHUODVVHQ KlWWHQ 5RJHU 0DPXOLDQ VFKDOWHWH GLH hEHUWUDJXQJ GHU 6HQGXQJ DE GLH GLH 5RERWDQODJH DXIJHIDQJHQ KDWWH (U IXKU VLFK EHU GLH 6WLUQ 0LW HLQHPPDO YHUVSUWH HU 1HUYRVLWlW (U ZXWH GD QDFK ODQJHU =HLW VHLQH 6WXQGH JHNRPPHQ ZDU *HJHQ GLH QHXH *HIDKU JDE HV NHLQH $EZHKU 'LH 0HQVFKKHLW VWDQG LKU KLOIORV JHJHQEHU 6LH ZDU JH]ZXQJHQ 6KQH ]X
OHLVWHQ 6LH ZXUGH DXIJHIRUGHUW GLH *DOD[LV ]X YHUODVVHQ IU LPPHU 0DPXOLDQ KDWWH HLQH 9LVLRQGLHDOOHVZDVHUVLFKELVKHUYRUJHVWHOOWKDWWHEHUWUDI(UVDKGLH0HQVFKHQYRQ+DUH WDQQL DOV GLH ]XNQIWLJH 0HQVFKKHLW GHU 0LOFKVWUDH 8QG HU +LYDU *RURQNRQ ZUGH GLH 5DFKH YROO]LHKHQ 'LH 5DFKH IU VHLQHQ 9DWHU (U HUNDQQWH QLFKW GD HU HLQHQ /RJLNIHKOHU EHJLQJ6HLQH*HGDQNHQVFKZHLIWHQDE« (V ZDU DQ %RUG GHU 81$7+$ +H ULHI HLQ DOWHU 2IIL]LHU (U ZDU ]ZHLIHOORV WHUUDQLVFKHU $EVWDPPXQJ ,FK GHQNH GLFK KDEHQ VLH EHVHLWLJW 'X ZROOWHVW GRFK GLH 0HQVFKKHLW YHUUDWHQ +LYDU*RURQNRQHUEOHLFKWH 0HLQVWGXPLFK"IUDJWHHUXQGJLQJODQJVDPDXIGHQ2IIL]LHU]X 1DWUOLFK'LFKNHQQHLFKGRFK'XELVWGHU=DXEHUHUGHUGDPDOVGDV.XQVWVWFNPLW$WODQ JHPDFKWKDW 'XLUUVWHQWJHJQHWH+LYDU,FKKHLH5RJHU0DPXOLDQ,QGLHVHP$XJHQEOLFNZXUGHHLQH QHXH,GHQWLWlWJHERUHQ'HU2IIL]LHUZLUNWHYHUXQVLFKHUW(UPXVWHUWH0DPXOLDQHLQJHKHQG ]XP7HXIHOULHIHUVFKOLHOLFK'XVLHKVWZLUNOLFKMQJHUDXV*RURQNRQZlUHKHXWHVFKRQ lOWHUZHQQHU QRFKOHEWH$EHUGLHVHbKQOLFKNHLW:HQQMHW]WQRFKGLH*ODW]HYROOVWlQGLJZlUH (VLVWHLQH]XIlOOLJHbKQOLFKNHLWPHKUQLFKW$EHUZDVKDWHVPLWMHQHP*RURQNRQDXIVLFK PLWGHPGXPLFKYHUZHFKVHOVW" 'HU 2IIL]LHU HU]l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lWHUHU]lKOWHPDQGDHUHLQ$JHQWGHU=*8JHZHVHQZDU 'DQNHIOVWHUWH5RJHU0DPXOLDQPLWEHEHQGHU6WLPPHXQGHQWIHUQWHVLFK'HU2IIL]LHUVDK LKPNRSIVFKWWHOQGQDFK+LYDU*RURQNRQDEHUOLHVLFKZlKUHQGGHVJHVDPWHQ)OXJHVQLFKW PHKUDXHUKDOEVHLQHU.DELQHVHKHQ(UVFKORDEHPSILQJNHLQHQ%HVXFK(UODJDXIGHP %HWWXQGVFKWWHOWHVLFKLQ:HLQNUlPSIHQ-HW]WZXWHHUZHUVHLQ9DWHUJHZHVHQZDU'LH *HVFKLFKWHQGLHLKPVHLQH0XWWHUHU]lKOWKDWWHZDUHQHLQHHLQ]LJH/JHJHZHVHQ'DV /HEHQGDVGDUDXIDXIJHEDXWZDU]HUEUDFKZLHHLQPRUVFKHV+DXVXQGGLH7UPPHUILHOHQ ZLUUGXUFKHLQDQGHU,Q+LYDUELOGHWHVLFKHLQWLHIHU$EJUXQG8QEHUEUFNEDUHU+DHQWVWDQG +DDXIDOOHVZDVPLWGHP7RGVHLQHV9DWHUV]XWXQKDWWH1LFKW(LQ]HOSHUVRQHQPDFKWHHU GDIUYHUDQWZRUWOLFKGDV6\VWHPZDUGDUDQVFKXOGGDHVVRZHLWJHNRPPHQZDU 'HU6RKQGHV9HUUlWHUVVSUDQJDXI(UUDQQWHJHJHQGLH7UGHQ6FKUDQNHU]HUWUPPHUWHGLH (LQULFKWXQJGHUNOHLQHQ.DELQHELVHUEHUZlOWLJWZXUGH ,FKELQHLQ%DVWDUGHLQYHUIOXFKWHU%DVWDUGVFKULHGHUNOHLQH0DQQEHYRUHUVFKOXFK]HQG ]XVDPPHQEUDFK -DKU]HKQWHZDUHQVHLWKHUYHUJDQJHQ5RJHU0DPXOLDQKDWWHVLFKHLQHQHXH([LVWHQ]DXIJHEDXW (U YHUVXFKWH VHLQ /HEHQ XQG VHLQH $EVWDPPXQJ ]X YHUJHVVHQ XQG HUNDQQWH GD GDV QLFKW P|JOLFK ZDU 6R DUEHLWHWH HU HLQ]LJ XQG DOOHLQ DQ GHP HLQHQ =LHO GHU 5HKDELOLWDWLRQ VHLQHV 9DWHUV(UZROOWHGHQ0HQVFKHQ]HLJHQGDVLH8QUHFKWDQ$OSDU*RURQNRQEHJDQJHQKDWWHQ GDVJHVKQWZHUGHQPXWH(UZDURKQH9DWHUDXIJHZDFKVHQ -HW]WZDUHU-DKUHDOWVHLQH6WXQGHZDUJHNRPPHQ'HU*URH0HLVWHUNHKUWH]XUFN]X VHLQHP9RON
'LH 0HOGXQJ YRQ GHU %HVHW]XQJ 2O\PSV UDVWH ZLH HLQ 6WXUPZLQG GXUFK GLH *DOD[LV -HW]W ZXWHQDOOH%HZRKQHUGHU0LOFKVWUDHGDGLH%HGURKXQJGXUFKGLH4UELWHUWDWVlFKOLFKHLQH *HIDKU GDUVWHOOWH GLH QLFKW XQWHUVFKlW]W ZHUGHQ GXUIWH $QJHVLFKWV GHU hEHUPDFKW GHU
)ORWWHQYHUElQGHGHU$EELOGHUGHUVLHEHQ)OLEXVWLHUZDUHQGLH9|ONHUGHU0LOFKVWUDHKLOIORV :HGHU GLH *$9g. QRFK LKUH 0LWJOLHGHU LP HLQ]HOQHQ NRQQWHQ GHU PDVVLHUWHQ .DPSINUDIW EHJHJQHQ 'LH2UELWHUVWHOOWHQHLQ8OWLPDWXP'DQDFKKDWWHQDOOH+XPDQRLGHQGLH0LOFKVWUDH]X YHUODVVHQGDVLHYRQGHQ2UELWHUQIU*DUEHVFKLDQHUJHKDOWHQZXUGHQ$OOH9HUVXFKHGLH 2UELWHUYRQLKUHUYHUKlQJQLVYROOHQXQGIDOVFKHQhEHU]HXJXQJDE]XEULQJHQVFKHLWHUWHQYRQ YRUQKHUHLQ'LH/)7YHUVXFKWHGDV8OWLPDWXPKLQDXV]X]|JHUQ7LIILRUYHUDQODWHHLQHQ $XIUXIGHULQHLQHPUHJHOUHFKWHQ%UDLQVWRUPHQGHWH9RQEHUDOOKHUJLQJHQ+LQZHLVHXQG 9RUVFKOlJHEHLLKPHLQZLHGLH0HQVFKHQGLH*HIDKUEDQQHQN|QQWHQ7DXVHQGHYRQ 3HUVRQHQZROOWHQGHQ(UVWHQ7HUUDQHUPLWGHQ9RUVFKOlJHQSHUV|QOLFKEHOlVWLJHQ ,QDOOGHP:LUUZDUUZlUHHLQH0HOGXQJEHLQDKHQLFKW]XP6FKUHLEWLVFK7LIIORUVJHODQJW(V KDQGHOWHVLFKXPHLQHQ)XQNDQUXIHLQHV*$9g..UHX]HUVGHUYRQ]ZDQ]LJ5DXPHUQ XQWHUVFKLHGOLFKHU%DXDUWEHULFKWHWHGLHDQLKPYRUEHLJH]RJHQZDUHQRKQHDXIVHLQHQ$QUXI ]XDFKWHQ 7LIIORUOLHVLFKVRIRUWPLW0XWRJKPDQ6FHUSYHUELQGHQ(UVFKLOGHUWHLKPGHQ)DOO (VVLQGPHKUHUH.XJHOUDXPHUGDUXQWHU]ZHL:DO]HQUDXPHUXQGHLQSDDUNOHLQHUH (LQKHLWHQEHULFKWHWHHU %HVWHKWGLH0|JOLFKNHLWGDHVVLFKXP)HUQVFKLIIHYRQDXHUKDOEGHU0LOFKVWUDH KDQGHOW"IUDJWH6FHUS(UZDUEHUGLH9RUJlQJHXPGLH2UELWHULQIRUPLHUW 9LHOOHLFKWVLQGHVVRJDU*DUEHVFKLDQHUVFKORHUDQDOV7LIIORUQLFKWJOHLFKDQWZRUWHWH'HU (UVWH7HUUDQHUYHUQHLQWHGLHEHLGHQ0|JOLFKNHLWHQ 'LH6FKLIIHVLQGEHNDQQWH.RQVWUXNWLRQHQGHU0LOFKVWUDHQY|ONHU,FKJODXEHGDHVVLFK XPHLQ.RPPDQGRXQWHUQHKPHQYRQHLQHU*$9g.:HOWKDQGHOWDQWZRUWHWHHU 6WHKWGDV)OXJ]LHOGHU(LQKHLWHQIHVW" 7LIIORUOLHVLFKGLHQHXHVWHQ0HOGXQJHQJHEHQ6HLQ.RSIUXFNWHKRFK (VLVW]XYHUPXWHQGDGHU.RQYRLQLFKWXQEHGLQJWIULHGOLFKH$EVLFKWHQKDW6HLQ=LHOLVW 2O\PS :HQQHVVLFKEHLGHQ,QVDVVHQGHU5DXPHUXP0HQVFKHQKDQGHOWZDVZROOHQVLHGDQQDXI 2O\PS"6FHUSVFKWWHOWHGHQ.RSI-HGHUPDQQZHLGDGLH2UELWHUGLH6FKLIIHQLFKWDQ VLFKKHUDQODVVHQ6LHZHUGHQLKUH$QQlKHUXQJDOV+HUDXVIRUGHUXQJXQG%HGURKXQJDQVHKHQ 8QGJHQDXGDVPVVHQZLULP6LQQDOOHU0HQVFKHQYHUKLQGHUQULHI7LIILRU(VGDUIQLFKW ]XHLQHU.RQIURQWDWLRQ]ZLVFKHQEHLGHQGHQ.HLOVFKLIIHQXQGGHP9HUEDQGNRPPHa+DOWHQ 6LHGLH]ZDQ]LJ6FKLIIHDXI'HU%LOGVFKLUPZXUGHGXQNHO6FHUSKDWWHDEJHVFKDOWHW(UQDKP VRIRUW9HUELQGXQJPLWPHKUHUHQ*$9g.6WW]SXQNWHQDXI$XVPHKUHUHQ5LFKWXQJHQHLOWHQ .XJHOVFKLIIH]X%RVF\NV6WHUQ6LHELOGHWHQHLQHQ6SHUUJUWHOXQGZDUWHWHQDXIGLH$QNXQIW GHVNOHLQHQ9HUEDQGV $OV GHU .RQYRL VLHEHQ /LFKWMDKUH YRQ %RVF\NV 6WHUQ HQWIHUQW DXV GHP /LQHDUUDXP NDP HUZDUWHWHQLKQ]HKQ.XJHOVFKLIIHGHU*$9g.XQWHU(UURQDJK7DUJK'HU.RPPDQGDQWGHU *$9g. YHUVXFKWH .RQWDNW PLW GHP 9HUEDQG DXI]XQHKPHQ 1LHPDQG DQWZRUWHWH LKP 6FKOLHOLFK HQWVFKOR HU VLFK HLQHQ :DUQVFKX DE]XJHEHQ (U KDWWH 2UGHU GLH 5DXPHU DXI DOOH)lOOHDXI]XKDOWHQ$OV$QWZRUWEHJDQQHQDOOH7\SHQ]XIHXHUQ)HXULJH/RKHQWUDIHQGLH 6FKXW]VFKLUPH GHU *$9g.6FKLIIH 'DQDFK YHUVFKZDQG GHU .RQYRL EHUJDQJVORV LP /LQHDUUDXP 6RIRUWKLQWHUKHUJHOOWH7DUJKV6WLPPHGXUFKGDV)ODJJVFKLII(UO|VWH$ODUPDXV=ZHL /LFKWMDKUHYRU2O\PSYHUZLFNHOWHHUGLHVFKZHLJHQGHQ6FKLIIHLQHLQ*HIHFKW1LHPDQG DFKWHWHGDEHLGDUDXIGDHLQHUGHU5DXPHUVLFKYRUVLFKWLJ]XUFNKLHOW7DUJKVWHOOWHQXUIHVW GDHLQ)XQNVSUXFKPLWHLQHP3XQNWDXHUKDOEGHU$WPRVSKlUH2O\PSVJHZHFKVHOWZXUGH (UZDUYHUVFKOVVHOW'DHVVLFKXPHLQHQJHOlXILJHQ&RGHKDQGHOWHGDXHUWHGLH (QWVFKOVVHOXQJNXU]'HU.ODUWH[WUHLFKWHDOOHUGLQJVDXVGD(UURQDJK7DUJKVRIRUWHLQH 9HUELQGXQJPLW6FHUSYHUODQJWH'HUZLHGHUXPYHUVWlQGLJWH7LIILRU *RURQNRQ"HFKRWHGHU(UVWH7HUUDQHU0LULVWDOVKlWWHLFKGHQ1DPHQVFKRQHLQPDO
JHK|UW:DUWHQ6LH (UOLHVLFKPLWGHQ,QSRWURQLNYRQ,PSHULXP$OSKDYHUELQGHQ'LH$XVNXQIWNDPQDFK ZHQLJHQ6HNXQGHQ7LIILRUHULQQHUWHVLFKZLHGHU'DPDOVKDWWH3HUU\ 5KRGDQGLHVFKZHUVWHQ6WXQGHQVHLQHV/HEHQVGXUFKJHPDFKW 9HUIROJHQ6LHGLH6FKLIIHXQGVWHOOHQ6LHIHVWZRVLHKHUJHNRPPHQVLQGVDJWHHU]X6FHUS XQGHU]lKOWHZDVHUEHUGHQ1DPHQ*RURQNRQZXWH(VPXVLFKXPHLQHQ1DFKNRPPHQ GHV=DXEHUHUVKDQGHOQhEHUSUIHQ6LHGHQ0DQQDXIVHLQHQ*HLVWHV]XVWDQGKLQ 6FHUSOHLWHWHGDV1RWZHQGLJHLQGLH:HJH(LQSDDU6WXQGHQVSlWHUPHOGHWH7DUJKGDGLH 6FKLIIHDXI+DUHWDQQLJHODQGHWZDUHQHLQHU:HOWGLH]ZDUEHNDQQWZDUDEHUHLQHY|OOLJ XQWHUJHRUGQHWH5ROOHVSLHOWH(VJDEDXILKUZHGHU,QGXVWULHQRFKHLQHIRUWVFKULWWOLFKH =LYLOLVDWLRQ (LQHXPIDQJUHLFKH6XFKHEHJDQQ+LYDU*RURQNRQZDUVSXUORVYHUVFKZXQGHQ6HLQH $QKlQJHUVFKZLHJHQ'HU*URH0HLVWHUZXUGHQLFKWJHIXQGHQ7DUJKVWDUWHWHRKQH(UJHEQLV
,Q GHP HLQHQ $XJHQEOLFN QRFK EHIDQG VLFK 5RJHU 0DPXOLDQ DXI GHP +|KHSXQNW VHLQHV /HEHQVZHJV,PQlFKVWHQVWU]WHHUYRQGLHVHUK|FKVWHQVHLQHU+|KHQLQGLHZHLWHVWH7LHIH GLHHUMHHUOHEWKDWWH$Q%RUGVHLQHV6FKLIIHVGHU81,9(5680&+$1HUOLWWHUVHLQHHUVWH XQGOHW]WH1LHGHUODJH 'HU*URH0HLVWHUDFKWHWHQLFKWGDUDXIGDPHKUHUHVHLQHU$QKlQJHULQDFKWXQJVYROOHP $EVWDQGDQLKPYRUEHLVFKULWWHQZREHLVLHVLFKWLHIYHUQHLJWHQ(UVWDUUWHDXIGLH%LOGVFKLUPH GLHLKPGDV:HOWDOO]HLJWHQGLH6WHUQHGLHLQ)OXJULFKWXQJYRULKPODJHQ(LQHUYRQLKQHQ ZDUVHLQ=LHO 'LH6WHUQHYHUVFKZDQGHQ5RJHU0DPXOLDQIXKUVLFKEHUGLH6WLUQ 'XELVW+LYDU*RURQNRQVFKlUIWHHUVLFKHLQ/HJHHQGOLFKGHLQHQ7DUQQDPHQDE'XKDVW HVEDOGQLFKWPHKUQ|WLJGLFK]XYHUVWHFNHQXQGGHQ1DPHQGHLQHV9DWHUV]XYHUKHLPOLFKHQ :lKUHQGGDV6FKLIILP9HUEDQGGXUFKGHQ/LQHDUUDXPJOLWWKROWHVLFK+LYDUGLH(ULQQHUXQJ DQMHQHQGHQNZUGLJHQ7DJ]XUFNDQGHPHU5XG\QPLWXQEHNDQQWHP=LHOYHUODVVHQKDWWH (U ZDU ]XU 6XFKH DXIJHEURFKHQ XQG KDWWH (UIROJ JHKDEW $EHU GDV :LVVHQ XP VHLQHQ 9DWHU KDWWHLKQYRUEHUJHKHQG]X%RGHQJHZRUIHQ-HW]WZDUDOOHVDXVJHVWDQGHQ $OLWD *RPPHUGKH ZDU VHLQH 0XWWHU (U YHUVWDQG ZDUXP VLH LKP GDV 0lUFKHQ EHU $OSDU HU]lKOW KDWWH 6LH ZDU HV JHZHVHQ GLH LKP ZHQLJVWHQV HLQH XQEHVFKZHUWH -XJHQG YHUVFKDIIW KDWWH(UPXWHLKUGDQNEDUVHLQ 3O|W]OLFKZXUGHVLFK+LYDUGHU7DWVDFKHEHZXWGDHVVFKRQEHUKXQGHUW-DKUHKHUZDU VHLW HU VHLQH 0XWWHU ]XP OHW]WHQPDO JHVHKHQ KDWWH /HEWH VLH QRFK RGHU ZDU VLH DXV *UDP JHVWRUEHQ" :HQQLFKPHLQHQ.DPSI]X(QGHJHNlPSIWKDEHZHUGHLFKKHLPNHKUHQVDJWHHUODXWYRU VLFK KLQ XQG ZXUGH VLFK VHLQHV *HGDQNHQIHKOHUV QLFKW EHZXW ,FK ZHUGH DOV 6LHJHU QDFK 5XG\QNRPPHQXQGGDV9RONZLUGPLFKIHLHUQ8QGOHLVHUIJWHHUKLQ]X 0LFKGHQVLH GDPDOVLPPHUYHUVSRWWHWKDEHQ .DXP QDKP HU ZDKU GD HU GHP 3ULHVWHU GHU GDV 6FKLII IKUWH $QZHLVXQJHQ DE 'D GUDXHQ LP $OO )ODPPHQVSHHUH HQWVWDQGHQ GD MHPDQG YHUVXFKWH VLH DXI]XKDOWHQ 'HU 9HUEDQG DXV ]ZDQ]LJ 6FKLIIHQ UFNWH VHLQHP =LHO LPPHU QlKHU 2O\PS XQG GHU )ORWWH GHU 2UELWHUPLWGHUVLHLQGHQ.DPSI]LHKHQZROOWHQ 'DQQ ZDU HV HQGOLFK VRZHLW 'LH 6FKLIIH ]RJHQ VLFK DXV GHP *HIHFKW PLW GHQ *$9g. 5DXPHUQ]XUFN 'HU*URH0HLVWHUEHREDFKWHWHZLHGHU)XQNHUPLWUXKLJHQ+lQGHQGLH9HUELQGXQJPLWGHU ]ZHL/LFKWMDKUHHQWIHUQWHQ2UELWHUIORWWHVXFKWH'LH0LQXWHQZXUGHQ]X(ZLJNHLWHQ(QGOLFK QDFKPHKUDOV]HKQ0LQXWHQHUKHOOWHVLFKGHU%LOGVFKLUP(LQH%UDFN7\SHHUVFKLHQGDUDXI 6LHPDFKWHHLQHQDEZHLVHQGHQ(LQGUXFN :DVZROOWLKU*DUEHVFKLDQHUVFKRQZLHGHU"IUDJWHVLH
+LHUVSULFKW+LYDU*RURQNRQGHU*URH0HLVWHU$OV6RKQ$OSDU*RURQNRQVGHV 8QLYHUVXP&KDQNRPPHLFKPLWPHLQHU)ORWWHXPGHQ2UELWHUQPHLQH8QWHUVWW]XQJEHLP .DPSIJHJHQGLH*DUEHVFKLDQHUDQ]XELHWHQVDJWH+LYDUIHLHUOLFK%LWWHYHUELQGHQ6LHPLFK PLWGHP.RPPDQGDQWHQGHU)ORWWH (LQSDDU6HNXQGHQYHUJLQJHQ'DQQWDXFKWHHLQH7UHIIQHU7\SHDXIGHP6FKLUPDXI ,FKELQ=DUFKHUVDJWHGHU2UELWHU:DVZLOOVWGX" *RURQNRQZLHGHUKROWHVHLQHQ6SUXFK(LQHQ$XJHQEOLFNVFKLHQGHU2UELWHULUULWLHUW'DQQ DEHUJOlWWHWHVLFKVHLQH*HVLFKWVKDXW'LH$XJHQEOLW]WHQDXI 6SDUHGLUGHLQ*HVFKZlW]*DUEHVFKLDQHUULHIHU(VLVWHLQQHXHU7ULFNYRQHXFK1LH ZUGHLFKDN]HSWLHUHQGDLKUHXFKXQVHUHU)ORWWHQlKHUW%HVWLPPWZROOWLKUHLQHQHXH :DIIH]XP(LQVDW]EULQJHQ=LHKWHXFKVRIRUWDXVGHU1lKH2O\PSV]XUFNVRQVWYHUQLFKWHQ ZLUHXFK $EHUVWRWWHUWH*RURQNRQZLUZROOHQHXFKKHOIHQGLH*DUEHVFKLDQHU]XYHUWUHLEHQ:LU VLQGGDV9RONYRQ+DUHWDQQL (VJLEWNHLQHQ*DUEHVFKLDQHUPLWGHPZLU2UELWHU]XVDPPHQDUEHLWHQZUGHQEHNUlIWLJWH GHU.RPPDQGDQWGHU%$/)ORWWHXQGVFKDOWHWHDE +LYDU*RURQNRQHUVWDUUWH(LQ*HGDQNHGXUFK]XFNWHLKQ(UKDWWHHLQHQJHZDOWLJHQ)HKOHU JHPDFKW(UKDWWHJHZXWGDGLH2UELWHUDOOH0HQVFKHQDOV*DUEHVFKLDQHUDQVDKHQ1DWUOLFK DXFKGLH0HQVFKHQYRQ+DUHWDQQLV3ODQHWHQ /DQJVDPKREHUGHQ.RSIXQGVDKVLFKXP'DVZDUQLFKWPHKUGHUIHVWH]ZLQJHQGH%OLFN PLWGHPHUGLH3ULHVWHULQVHLQHQ*HKRUVDPLQDOOHQ(QWVFKHLGXQJHQYHUZLHV)ODFNHUQGXQG XQUXKLJJOLWWHQGLH$XJlSIHOLQLKUHQ+|KOHQKLQXQGKHU(UKRIIWHDXVLUJHQGHLQHP0XQG HLQH%HPHUNXQJ]XK|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lWHUVHW]WHGDVOHW]WH6FKLIIDXIGHP5DXPKDIHQ+DUHWDQQLVDXI'LH 0HQVFKHQJLQJHQYRQ%RUGXQGNHKUWHQLQLKUH'|UIHUXQG6WlGWH]XUFN (LQ SDDU 8QHQWZHJWH VDPPHOWHQ VLFK DXI GHP 3ODW] YRU GHP *URHQ +DXV XP DXI LKUHQ 0HLVWHU]XZDUWHQ 5RJHU0DPXOLDQNDPQLFKW'HUPlFKWLJH=DXEHUHUDQGHQHLQJDQ]HV9RONJODXEWHEUDFK ]XVDPPHQ(UKLQWHUOLHHLQH/FNH0HQVFKHQYROOHU8QVLFKHUKHLWXQG/HHUH'LH:XQGHLQ GHQ+HU]HQGHU+DUHWDQQLZUGHQXUODQJVDPKHLOHQ'HQ:HJLQVHLQXQWHULUGLVFKHV9HUVWHFN JLQJGHU=DXEHUHUKHLPOLFK(UVHW]WHVLFKDXIGHQ6WXKOVWDUUWHLPPHUZlKUHQGGHQ6SLHJHO DQ ,FKKDEHYHUVDJWIOVWHUWHHU$EHULFKZHUGHPHLQ=LHOGHQQRFKHUUHLFKHQVFKULHHU 'XZLUVWPLUGDEHLKHOIHQ(UGHXWHWHDXIGDV%LOGGDVDXIGHP7LVFKVWDQG(UEHJDQQ]X NLFKHUQ,FKZHUGHHVLKQHQ]HLJHQLFKZHUGHGHQ.DPSIDOOHLQDXIQHKPHQ (UVWHOOWHVLFKYRUZDVJHVFKHKHQZUGH'LH2UELWHUZUGHQLKQJHZlKUHQODVVHQVREDOG VLH IHVWVWHOOWHQ GD VLFK VHLQH .UDIW QLFKW JHJHQ VLH VRQGHUQ JHJHQ GLH YHUPHLQWOLFKHQ *DUEHVFKLDQHU ULFKWHWH +LYDU *RURQNRQ WUlXPWH GHQ 7UDXP VHLQHV /HEHQV (U ZUGH GHQ 2UELWHUQGLH$UEHLWDEQHKPHQXQGVHLQ=LHOHUUHLFKHQ(UZDUIHLQHQWULXPSKLHUHQGHQ%OLFNLQ GHQ6SLHJHOXQGIXKUPLWHLQHP$XIVFKUHL]XUFN'DV*HVLFKWVHLQHU0XWWHUHUVFKLHQLKP IUHLQHQNXU]HQ$XJHQEOLFN'DQQYHUVFKZDQGHV 1HLQlFK]WH+LYDU1HLQ (U IXKU YRP 6WXKO HPSRU SDFNWH GLH /HKQH 0LW HLQHP $XIVFKUHL VWLH HU GHQ 6WXKO LQ GHQ
6SLHJHO KLQHLQ(VJDEHLQ.QLUVFKHQGLH6FKHUEHQUHJQHWHQDXIGHQ7LVFK'DV%LOG$OSDU *RURQNRQVZXUGHYRQHLQHPGHU6WXKOEHLQHKHUDEJHIHJW XQGODQGHWHLUJHQGZRLQGHU(FNH 'HU6WXKOILHO]X%RGHQ +LYDU *RURQNRQ OLH GLH $UPH VLQNHQ 6HLQH $XJHQ ZDUHQ EOXWXQWHUODXIHQ GLH +DOVDGHUQ ]XP=HUUHLHQJHVSDQQW/DQJVDPJLQJGHU+HUUVFKHUEHUHLQJDQ]HV9RONLQGLH.QLH 'XELVWHLQ9HUVDJHUKlPPHUWHGDV%OXWLQVHLQHQ6FKOlIHQ'XELVWQLFKWVZHUW0DFKH GHLQHP/HEHQHLQ(QGH:DUXPELVWGXQLFKWEHLGHLQHU0XWWHUJHEOLHEHQ" *RURQNRQ NHXFKWH (U EHJDQQ ]X VFKZLW]HQ ZlKUHQG VHLQH $XJHQ LUUOLFKWHUQG EHU GHQ %RGHQZDQGHUWHQ$P%LOGVHLQHV9DWHUVaEOLHEHQVLHKlQJHQ'HU6RKQGHVOHW]WHQ0DJLHUV JUDEVFKWHQDFKGHP%LOGGUFNWHHVDQVLFK 1HLQULHIHUHVGDUIQLFKWVHLQ (UVSUDQJDXIHLOWHKLQEHU]XU3RVLWURQLNQDKP9HUELQGXQJDXI(UVFKLOGHUWHGLH/DJH ,FK EUDXFKH HLQH VWDUNH %HZDIIQXQJ IU GLH 6FKLIIH VDJWH HU KDVWLJ ,FK ZHUGH HLQHQ hEHUUDVFKXQJVVFKODJIKUHQ 'DV$QVLQQHQZLUGDEJHOHKQW'LHVH 6WDWLRQLVWQLFKWGDIUHLQJHULFKWHW:DIIHQ]XEDXHQ XQG ]X ODJHUQ DQWZRUWHWH GDV DUNRQLGLVFKH 5HFKHQJHKLUQ GDV LKP LPPHU DOOH :QVFKH HUIOOWKDWWH 'XZLUVWPLUJHKRUFKHQVFKULH*RURQNRQ'XWXVWZDVLFKVDJHVRQVW 'XELVWHUUHJWLFKZHUGHGLFKEHKDQGHOQVDJWHGDV*HKLUQ *RURQNRQDOLDV0DPXOLDQVDKVLFKJHKHW]WXP6HLQ%OLFNILHODXIHLQHGHU6WDQJHQPLWGHQHQ LP1RWIDOOGLHVHU5DXPYHUEDUULNDGLHUWZHUGHQNRQQWH(UULHLQHGDYRQDXVLKUHU+DOWHUXQJ 'XZLUVWPLUVRIRUWGLHQ|WLJHQ:DIIHQ]XU9HUIJXQJVWHOOHQVDJWHHUJHIlKUOLFKOHLVH (VJHKWQLFKW +LYDUYHUORUGLH%HKHUUVFKXQJ0LWGHU6WDQJHEHJDQQHUDXIGLH0DVFKLQHQZDQG HLQ]XVFKODJHQ(LQOHLVHU3IHLIWRQHUNODQJ 'XHUUHLFKVWGDPLWQLFKWVVDJWHGLH3RVLWURQLNZXUGHDEHUYRQHLQHU]ZHLWHQ6WLPPH EHUODJHUW 6LFKHUKHLWVVFKDOWXQJ6LFKHUKHLWVVFKDOWXQJVDJWHGHU$XWRPDW'HU)UHPGHZLUGDOV *HIDKUHLQJHVWXIWXQGHOLPLQLHUW +LYDU*RURQNRQK|UWHHV(UKlWWHGLH0|JOLFKNHLWJHKDEWVLFKJHLVWHVJHJHQZlUWLJLQ 6LFKHUKHLW]XEULQJHQ$EHUGLHZLUUH)OOHGHU(PRWLRQHQGLHVHLQH*HGDQNHQEHUODJHUWHQ OlKPWHLKQ(UKDWWHQXUGDV=LHOGLH3RVLWURQLN]XU(UIOOXQJVHLQHU)RUGHUXQJHQ]XEH ZHJHQ0LWWHQLPQlFKVWHQ6FKODJHUVWDUUWHHU'LH6WDQJHJOLWWDXVVHLQHQ+lQGHQZXUGHYRQ GHU:XFKWPLWGHUVLHJHIKUWZRUGHQZDUTXHUGXUFKGHQ5DXPELV]XU:DQGJHWUDJHQZR VLH]X%RGHQSROWHUWH +LYDU*RURQNRQEUHLWHWHGLH$UPHDXV(UVDKVLFKDXIHLQPDODOVNOHLQHV.LQGGDVQXUHLQ =LHOKDWWHQlPOLFKGLH*HERUJHQKHLWEHLGHU0XWWHUHLQXPVRUJWHVJOFNOLFKHV'DVHLQDXI 5XG\Q:RZDUGLH0XWWHUZRZDUHUVHOEVW",QGLHVHQOHW]WHQ6HNXQGHQHUNDQQWH+LYDU]XP HUVWHQPDOGDHUVHLQ/HEHQYHUSIXVFKWKDWWH'DHUGHP)OXFKVHLQHV9DWHUVJHIROJWZDU 7UlQHQ IORVVHQ DXV VHLQHQ $XJHQ 7UlQHQ GHU (QWWlXVFKXQJ XQG GHU 5HXH 6HLQH $XJHQ ZDQGHUWHQEHUGHQVFKZDU]HQ%DUW]XU%UXVWZRLKQGHU(QHUJLHVWUDKOGXUFKERKUWKDWWH'HU (UEH GHV OHW]WHQ 0DJLHUV VWDUE 1LFKW PLW GHP 7ULXPSK LQ GHQ $XJHQ VRQGHUQ PLW GHU 6FKDQGHLP+HU]HQPLWGHU9HUDFKWXQJGHU6FKPDFK ,QHLQHUXQWHULUGLVFKHQ+DOOHDXIHLQHPZHQLJEHNDQQWHQ3ODQHWHQIDXOWHGLH/HLFKHGHV NOHLQHQ0DQQHVYRUVLFKKLQ]HUILHO]X6WDXE9LHOOHLFKWZUGHGLH6WDWLRQHLQHV7DJHV JHIXQGHQZHUGHQ'DQQZXWHQLHPDQGPHKUYRQGLHVHP0DQQDXHUGLH/HJHQGHGHU %HY|ONHUXQJ8QGGLH3RVLWURQLNZUGHDXIHLQH)UDJH]XGLHVHU/HJHQGHYLHOOHLFKW DQWZRUWHQ 'LHVHU6WDXEZDUHLQ+LOIVEHGUIWLJHUGHPQLFKWJHKROIHQZHUGHQNRQQWH
(ULQQHUXQJDQGLH(UGH
.|QQHQ 6LH QLFKW DXISDVVHQ 6LH EOLQGlXJLJHV 0DUVNDOE SROWHUWH GLH 6WLPPH DXV GHP +LQWHUJUXQG ,FK PDFKWH DXV PHLQHU ZRKOJHVWDOWHWHQ PDUVLDQLVFKHQ )LJXU HLQ )UDJH]HLFKHQ XQGGUHKWHPLFKDEUXSWXP +DWMHPDQGJHUXIHQ"IUDJWHLFKVFKHLQKHLOLJ $XVGHU7HHNFKHGHU0RVNLWRVFKREVLFKPLW]HLWOXSHQKDIWHQ%HZHJXQJHQHLQ0RQVWUXP EHLGHVVHQ$QEOLFNHLQ8QHLQJHZHLKWHUQXU]ZHL0|JOLFKNHLWHQKDWWHHQWZHGHUEHNDPHU /DFKNUlPSIHRGHULKPZXUGHVFKOHFKWXQGHUEHUJDEVLFK ,FKWDWNHLQHVYRQEHLGHPVRQGHUQEOLHEPLWGHPXQVFKXOGLJVWHQ*HVLFKWGHV8QLYHUVXPV VWHKHQ6FKOLHOLFKKDWWHLFKPLUQLFKWVYRU]XZHUIHQ 'DV0RQVWUXPGHU/HVHUP|JHPLUYHU]HLKHQGDLFKNHLQHQEHVVHUHQ9HUJOHLFKILQGH ZDU HLQ IDlKQOLFK JHEDXWHV NDKON|SILJHV :HVHQ PLW HLQHU lXHUVW RUGLQlUHQ 6WLPPH (V KDQGHOWH VLFK XP PHLQHQ 9RUJHVHW]WHQ &RPPDQGHU 'DODLPRF 5RUYLF GHQ +DOEF\QR PLW GHPLFKVFKRQPDQFKHV$EHQWHXHUHUOHEWDEHUDXFKPDQFKHQbUJHUJHKDEWKDWWH 'LH%HZHJXQJHQGHV7LEHWHUVZXUGHQQRFKODQJVDPHUDOVHULQHLQHU(QWIHUQXQJYRQYLHU 0HWHUQDXIPHLQH5LFKWXQJHLQVFKZHQNWH-HGHUDQGHUH%HREDFKWHUKlWWHVLFKGXUFKGLHVH *HPlFKOLFKNHLWWlXVFKHQODVVHQ=XPHLQHPJXWHQ*OFNMHGRFKNDQQWHLFKGHQ$OELQR LQ]ZLVFKHQJXWJHQXJ 5RUYLFIXFKWHOWHPLWGHPUHFKWHQ$UP]XPLUKHUEHUGRFKLFKZXWHJHQDXGDGLHVQXUHLQ $EOHQNXQJVPDQ|YHUZDU8PVRLQWHQVLYHUEHREDFKWHWHLFKGDKHUVHLQHQOLQNHQ$UP'HU ]XFNWHQlPOLFKIDVWXQVLFKWEDUQDFKREHQXQGLPVHOEHQ0RPHQWVDKLFKHLQHQ6FKDWWHQDXI PLFK]XVFKLHHQ,QVWLQNWLYJLQJLFKLQGLH.QLHXQGULGLH$UPHYRUGHQ.RSIZlKUHQGHV KLQWHUPLULP6WHXHUSXOWNOLUUWHXQGNUDFKWH 9RUVLFKWLJHUKRELFKPLFKXQGVWHFNWHGHQ.RSI]ZLVFKHQPHLQHQ$UPHQKLQGXUFK %LWWH6LU"IUDJWHLFK 5RUYLFV$XJHQIXQNHOWHQPLFKDQ$POLHEVWHQKlWWHHUPLFKYHUVFKOXQJHQ*HIlKUOLFKOHLVH VDJWHHU 'DUEHUVSUHFKHQZLUQRFK&DSWDLQ+DLQX (VWXWPLUZLUNOLFKOHLG6LUHUNOlUWHLFK,FKVWROSHUWHXQGILHOJHJHQGHQ6FKUDQNDXIGHP IUKHU,KUJDQ]HVFKLQHVLVFKHV7HHVHUYLFHVWDQG(LQH7DVVHNLSSWHQDFKYRUQXQGILHOKHUDE 'DPLWJODXEWHLFKJHQXJHUNOlUW]XKDEHQXQGVFKZLHJ'HU7LEHWHUVHW]WHVLFKMHGRFKZLHGHU LQ%HZHJXQJXQGZDWHWHPLWHUKREHQHU)DXVWDXIPLFK]X =XUFNZHLFKHQ"1HLQGDVNDPQLFKWLQ)UDJH$XHUGHPVWDQGLFK]ZLVFKHQGHQ]ZHLIHVW PRQWLHUWHQ3LORWHQVHVVHOQXQGHLQ$XVZHLFKHQZDUQXUQDFKHLQHU6HLWHKLQP|JOLFK'RUW DEHUNDPHU 'LH6LWXDWLRQZDUEHNOHPPHQGGHVKDOEIJWHLFKVFKQHOOKLQ]X (VZDUGLHYRUOHW]WH7DVVH 6LU 5RUYLFKDWWHPLFKHUUHLFKWXQGEOLHEYRUPLUVWHKHQ,FKZDUKLOIORVHLQJHNOHPPWXQGZROOWH EHUHLWVHLQHQ(LQZDQGGLHVEH]JOLFKPDFKHQGDOLHGHU$OELQRGLH)DXVWVLQNHQ6WDUU EOLFNWHHUDQPLUYRUEHLDXIGDV6WHXHUSXOW$XFKLFKZDJWH]DJKDIWPHLQHQNODVVLVFKHQ 0DUVLDQHUNRSILQGLHVHOEH5LFKWXQJ]XGUHKHQ $XIGHQ.RQWUROOWDIHOQODJHQVlXEHUOLFKYHUWHLOWGLHhEHUUHVWHHLQHUFKLQHVLVFKHQ 3RU]HOODQWDVVH(UJULIIHQYRQGLHVHP$QEOLFN OLHLFKPLFKLQHLQHQGHU6HVVHOIDOOHQ5RUYLF VFKLHQ]X6WHLQHUVWDUUW,FKHUKREPLFKVFKQHOOZLHGHU 'DVPXGLHOHW]WH7DVVHJHZHVHQVHLQ6LUPHOGHWHLFKVWUDPPVWHKHQGXQGPLW EHGDXHUQGHP8QWHUWRQZLHVLFKGDVIUHLQHQ8QWHUJHEHQHQJHK|UWH (VZDUWDWVlFKOLFKGLHOHW]WHXQGHUKDWWHVLHVHOEVWDXIGHP*HZLVVHQ ,FKGUFNHPHLQDXIULFKWLJHV%HGDXHUQDXVK|UWHLFKPLFKVDJHQHLQVROFKHV*HVFKLUULVW VHKUVHOWHQ8QGELVZLUZLHGHUHLQPDO]XU(UGHNRPPHQGUIWHHLQHODQJH=HLWYHUJHKHQ :LUEHIDQGHQXQVPLWGHU62/DXIGHP5FNZHJ]XU0LOFKVWUDHXQG]X$WODQ3HUU\
5KRGDQKDWWH5RUYLFXQGPLFKORVJHVFKLFNWGDVYRUXQVOLHJHQGH6RQQHQV\VWHPHLQHU IUHPGHQ*DOD[LV]XHUNXQGHQ 'HU*HGDQNHDQGLH(UGHOHJWHVFKOXPPHUQGH,QVWLQNWHLQLKPZDFK(UJUXQ]WHXQG VFKPDW]WH(UKLHEPLUPLWVHLQHQ3UDQNHQDXIEHLGH6FKXOWHUQGDLFKPHLQWHHUVWLFNHQ]X PVVHQ 'DWlXVFKHQ6LHVLFK7DWFKHU VSUDFKHUYlWHUOLFKZLUVLQGDXIGHP:HJQDFK7HUUD (U GUHKWH VLFK XP XQG YHUVFKZDQG GDKLQ ZR HU KHUJHNRPPHQ ZDU 8QG REZRKO 0DUVJHERUHQHPHLQHU$EVWDPPXQJQRUPDOHUZHLVHVROFK &KDUDNWHUVFKZlFKHQQLFKWNHQQHQ JHVWHKHLFKGDLFKLPHUVWHQ$XJHQEOLFNYHUZLUUWZDU'RFKILQJLFKPLFKVRJOHLFK -HW]W KDWWH LFK QlPOLFK HLQHQ ZHLWHUHQ %HZHLV GDIU LQ +lQGHQ GD &RPPDQGHU 5RUYLF HLJHQWOLFK DXV GHP 'LHQVW KlWWH HQWODVVHQ ZHUGHQ PVVHQ (U ZDU QLFKW QRUPDO 'RFK EHVFKORLFKZHQLJVWHQVYRUOlXILJJXWH0LHQH]XPE|VHQ6SLHO]XPDFKHQGHQQLFKZXUGH GHQ*HGDQNHQQLFKWORVGDGHU$OELQRPLFKZLHGHUHLQPDODXIV*ODWWHLVIKUHQZROOWH 8QVHUH0RVNLWRKDWWHLFKLQVJHKHLPDXIGHQ1DPHQ9256,&+7JHWDXIWLQ*HGDQNHQGDUDQ GD)OJHPLWGHP7LEHWHULPPHUVHKUZDJKDOVLJ]XVHLQSIOHJWHQ'LHVHQ1DPHQGHP &RPPDQGHUYRU]XVFKODJHQXQGGDVNOHLQH6FKLIIRIIL]LHOO]XWDXIHQVFKZHEWHPLUEHUHLWVVHLW HLQLJHQ6WXQGHQYRU6RJDUHLQH)ODVFKH6HNWKDWWHLFKLUJHQGZRKHUJH]DXEHUWXQGLQGLH .KOER[JHVWHOOW1DFKGHQ(UHLJQLVVHQGHUYHUJDQJHQHQ0LQXWHQMHGRFKKDWWHLFKGHQ *HGDQNHQVFKQHOOZLHGHUIDOOHQODVVHQ1LHKlWWH5RUYLF]XJHVWLPPWXQGZHQQGDQQ K|FKVWHQVXPPLFKLQHLQH)DOOH]XORFNHQRGHUGHQ6HNWDOOHLQ]XOHHUHQ1XUK|FKVWH :DFKVDPNHLWXQGHLQHJXWH3RUWLRQPDUVLDQLVFKHQ0LWUDXHQVKDWWHQPLFKELVKHUGDYRU EHZDKUWYRQGLHVHP6FKHXVDOPHXFKOLQJVHUPRUGHW]XZHUGHQ 'DLFKLKPEHLP(UZDFKHQDXVGHP5HJHQHUDWLRQVVFKODIGXUFKHLQHQXQNRQWUROOLHUWHQ )XWULWWGLH1DVHGHPROLHUWKDWWHVFKLHQHUPLUQLHPHKUYHUJHVVHQ]XZROOHQRGHU]XN|QQHQ GHQQGLHVHV*HELOGHGDVGLH0LWWHVHLQHV*HVLFKWV]LHUWHZDUMHW]WQRFKXQI|UPLJHUDOVMH ]XYRU(VKDWWHGLH%H]HLFKQXQJ1DVHQLHYHUGLHQWJHKDEW 8PPLFKGLHVHQXQGDQGHUHQhEHUOHJXQJHQXQJHVW|UWKLQJHEHQ]XN|QQHQKDWWHLFKPLFKLQ HLQHQGHUEHLGHQ6HVVHOJHVHW]WXQGEHLGHVRJHGUHKWGDVLHLQ5LFKWXQJGHV6WHXHUSXOWV JHULFKWHWZDUHQ'LHKRKH/HKQHYHUGHFNWHPHLQHQ.|USHU1LHPDQGZlUHDXI GHQ*HGDQNHQJHNRPPHQKLHUKDEHVLFKMHPDQGKlXVOLFKQLHGHUJHODVVHQ 1DFKHLQHU:HLOHK|UWHLFK5RUYLFVVFKOXUIHQGH6FKULWWHGLHVLFKVWHWLJQlKHUWHQ'DQQILHO GHU6FKDWWHQGHV7LEHWHUVDXIGLH.RQWUROOHQXQGJOHLFKGDQDFKWDXFKWHHUVHOEVWLQPHLQHP *HVLFKWVNUHLVDXI2IIHQEDUEHPHUNWHHUPLFKQLFKW(UVFKREVLFKDQPHLQHP6HVVHOYRUEHL QDFKYRUQXQGKLHOWKLHUVWRFNWHPLUEXFKVWlEOLFKGHU$WHP 5RUYLFKLHOW.HKUVFKDXIHOXQG%HVHQLQGHU+DQG,FKIDWHPLFKDQGHQ.RSI:DUGHU $OELQRWDWVlFKOLFKEHUJHVFKQDSSW"0LWHLQHUYROOHQGHWHQ$UPHQVQGHUPLHQHEHJDQQHUGLH 6FKHUEHQ]XVDPPHQ]XIHJHQ (QWVHW]WZDULFKDXIJHVSUXQJHQ0HLQJXWHV+HU]JLQJPLWPLUGXUFKLFKEHJLQJGHQ IROJHQVFKZHUVWHQ)HKOHUPHLQHV/HEHQV %HL3KRERVXQG'HLPRVULHILFKDXV6LHN|QQWHQVLFKYHUOHW]HQ6LU,FKHLOHVRIRUWGHQ .FKHQURERW]XDNWLYLHUHQ 'DODLPRF5RUYLFGUHKWHVLFKODQJVDPXP 'DVLQG6LHMD7DWFKHULFKKDEH6LHEHUDOOJHVXFKWOlFKHOWHHUXQGIXKUPLWHUKREHQHU 6WLPPHIRUW6DPPHOQ6LHGLH6FKHUEHQHLQ&DSWDLQ+DLQX'DVLVWHLQ%HIHKO (UGUFNWHPLU6FKDXIHOXQG%HVHQLQGLH+DQGXQGHQWIHUQWHVLFKVRVFKQHOOHVLKPGLH NQVWOLFKH6FKZHUNUDIWDQ%RUGHUODXEWH
,FKNDPPLUZLHHLQGXPPHU6FKXOMXQJHYRU=RUQHVU|WHVWLHJPLULQV*HVLFKW$POLHEVWHQ KlWWHLFK6FKDXIHOXQG%HVHQGLHVHP8QJHKHXHUQDFKJHZRUIHQ$EHUVFKOLHOLFKNRQQWHLFK
PLFK MD EHKHUUVFKHQ 'LHVHU 9RUIDOO ZDU GHU DXJHQIlOOLJVWH %HZHLV GDIU ZLH PHLQ 9RUJHVHW]WHU PLFK EHKDQGHOWH $QVWDWW PHLQHQJXWHQ &KDUDNWHU XQG PHLQH YRUELOGOLFKHQ 8PJDQJVIRUPHQ]XOREHQVFKLNDQLHUWHHUPLFKEHLMHGHU*HOHJHQKHLW'DEHLZDULFKZLUNOLFK XPLKQEHVRUJWJHZHVHQ1DMD8QGDQNLVWHEHQGHU:HOW/RKQ 0LWGLHVHQ*HGDQNHQUlXPWHLFKGLH6FKHUEHQZHJ'RFKNRQQWHLFKHVQDFKEHHQGHWHU$UEHLW QLFKWODVVHQPHLQHP8QPXWQRFKPDOV/XIW]XPDFKHQ 'LFK VROO GHU &KHI KROHQ NQXUUWH LFK VRUJIlOWLJ GHQ 1DPHQ GHV JHK|UQWHQ %|VHQ YHUPHLGHQG 6FKRQ LPPHU KDWWH LFK KHLPOLFK GLH 9HUPXWXQJ JHKHJW GD NHLQ DQGHUHU GHU /HLEKDIWLJHVHLQN|QQHDOV'DODLPRF5RUYLF'HVKDOEQDKPLFKGHQ%HJULII7HXIHOHUVWJDU QLFKWLQGHQ0XQGVRQGHUQJHEUDXFKWHGLH$ENU]XQJIUGHQ&KHERUSDUQHU&KHERUSDUF]HWH )D\Q\EUHW MHQHV 8626SH]LDOLVWHQ GHU LQ GHU =HLW GHU 6FKZDUPNULVH $XHURUGHQWOLFKHV JHOHLVWHW KDWWH XQG VHLQHV $XVVHKHQV ZHJHQ YRQ DKQXQJVORVHQ 5DXPNDGHWWHQ RIW IU GHQ 7HXIHOSHUV|QOLFKJHKDOWHQZRUGHQZDU (UZDUHLQEHVVHUHU0HQVFKDOVGHU$OELQRIOVWHUWHLFKXQK|UEDU 1DFKGHPLFKGLHOHW]WHQ5HVWHGHVNRVWEDUHQFKLQHVLVFKHQ3RU]HOODQVLP0OOVFKOXFNHU]X *UDEHJHWUDJHQKDWWHQlKHUWHLFKPLFKJXWHQ*HZLVVHQVGHU.KOER[5RUYLFKDWWHQLFKW YHUGLHQWLQGHQ*HQXGHVNRVWEDUHQ6HNWV]XNRPPHQ6REHVFKORLFKGHQ1DPHQGHU 0RVNLWRIUPLFK]XEHKDOWHQXQGGLH)ODVFKHDOOHLQ]XOHHUHQ ,FK|IIQHWHGLH.KOER['DVWDQGGLH)ODVFKHZLHHVVFKLHQXQYHUVHKUWDQLKUHP3ODW] )U|KOLFKQDKPLFKVLHKHUDXVHQWNRUNWHVLHVHW]WHDQXQGQDKPHLQHQNUlIWLJHQ6FKOXFNGHU PLUEXFKVWlEOLFKLP+DOVVWHFNHQEOLHE,FKZUJWHXQGVFKOXFNWH'DQQVSUXGHOWHGDV=HXJ IRQWlQHQDUWLJDXVPHLQHP0XQGKHUYRUJHQDXGHP$OELQRLQV*HVLFKWGHUYRQPLU XQEHPHUNWXQWHUGLH7UJHWUHWHQZDU 9RU(NHOOLHIHVPLUDEZHFKVHOQGZDUPXQGNDOWGHQ5FNHQKLQXQWHU,QGHU)ODVFKHEHIDQG VLFKQl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lKOEDU(UZDUHLQ0DQQGHUGXUFKVHLQHEHUVLQQOLFKHQ.UlIWHYRUDOOHPIU6SH]LDOHLQ VlW]HYRQXQVFKlW]EDUHP:HUWZDU,P(UQVWIDOOZDUHUlXHUVWVDFKOLFKXQGUHDNWLRQVIlKLJ /HLGHUZDUVHLQH3HUV|QOLFKNHLWVRJHEDXWGDQDFK$XJHQEOLFNHQKRKHU$QVSDQQXQJRIW ODQJH3HULRGHQOHWKDUJLVFKHQ1LFKWVWXQVIROJWHQLQGHQHQHUMHGHPDQGHUHQ0HQVFKHQDXIGLH 1HUYHQJLQJQXUVLFKVHOEVWQLFKW (VZlUHHLQ'LQJGHU8QP|JOLFKNHLWJHZHVHQKlWWHPDQLKQPLWHLQHPQRUPDOHQ6WHUEOLFKHQ ]XVDPPHQLQHLQHQ(LQVDW]JHVFKLFNW1DFKHLQHP7DJDOOHLQLQHLQHU6SDFH-HW]XVDPPHQ PLWGLHVHP8QJHKHXHUKlWWHGHU0DQQJDUDQWLHUWVHLQHP/HEHQHLQ(QGHEHUHLWHW 'DODLPRF 5RUYLF ZDU NHLQ QRUPDOHU 6WHUEOLFKHU JHZDFKVHQ 'D]X EHGXUIWH HV VFKRQ HLQHV EHVRQGHUVEHIlKLJWHQ0DQQHVHLQHV0DUVLDQHUVGHU$.ODVVH]XP%HLVSLHOHLQHV0DQQHVZLH
7DWFKHUD+DLQX,FKJLQJVRJDUVRZHLW]XEHKDXSWHQGDQXULFKDOOHLQPLWGLHVHP4XHUNRSI ]XVDPPHQDUEHLWHQ NRQQWH :LU ZDUHQ XQ]HUWUHQQEDU 'LH 5HLEHUHLHQ GLH VLFK ]ZLVFKHQ XQV DEVSLHOWHQNRQQWHPDQDXIODQJHQ)OJHQDOVGXUFKDXVJHVXQGHQ$JJUHVVLRQVDEEDXDQVHKHQ ZDVDOOHUGLQJVQLFKWDXVVFKORGD5RUYLFHLQHQlXHUVWPLHVHQ&KDUDNWHUEHVD'LH6DFKH PLWGHP6HNWKDWWHHVZLHGHUEHZLHVHQ 'DVZDUHLQ7HLODVSHNWDOOGHU6FKDWWHQVHLWHQGLHDXI]X]lKOHQPLUGLH=HLWIHKOWHGHQQ LQPLWWHQGLHVHUhEHUOHJXQJHQVFKOLHILFKHLQ,FKWUlXPWHYRQ7HXIHOQXQG+H[HQGLHPLFK YHUIROJWHQPLFKYRQ:HOW]X:HOWKHW]WHQ*HLVWHUULHIHQLPPHUZlKUHQGPHLQHQ1DPHQ 'D]ZLVFKHQYHUQDKPLFKGLHGU|KQHQGH6WLPPHGHV7LEHWHUV 6LHVROOHQPHLQ%KDYDFFD.U D KROHQ6LHVROOHQPHLQ%KDYDFFD.U DKROHQ:HQQ6LHHVQLFKWLQQHUKDOEYRQIQI7DJHQ KHUEHLJHVFKDIIWKDEHQYHUOLHUHLFKGLH.RQWUROOHEHUPHLQH3VLNUlIWH 'DQQEHIDQGLFKPLFKDXIGHU)OXFKWYRUHNOLJHPNULHFKHQGHP*HZUPXQGOLHIGLUHNWLQGLH $UPHHLQHUULHVLJHQ6FKODQJHGLHLKUHQIUFKWHUOLFKHQ5DFKHQZHLWDXIVSHUUWH ,FKELQ$QXED NUlFK]WHGDV8QJHWP ,FKJODXEWHHUVWLFNHQ]XPVVHQ'DEHNDPLFKHLQHQGLVNXVI|UPLJHQ*HJHQVWDQG]XIDVVHQ (VZDUGDV%KDYDFFD.U D6RIRUWYHUVFKZDQGHQGLHVFKUHFNOLFKHQ7UDXPELOGHU :DFKHQ6LHDXI&DSWDLQ+DLQXK|UWHLFKYRQQHXHPGLH6WLPPHGHV7LEHWHUVXQG HUNOlUHQ6LHPLUZLH6LH]XPHLQHP%KDYDFFD.U DNRPPHQ ,FK QDKP PLU IHVW YRU GLH 6WLPPH ]X LJQRULHUHQ 6LH OLH MHGRFK QLFKW ORFNHU XQG NHKUWH IQIVHFKVPDOZLHGHU 9HUGDPPW7DWFKHUZDFKHQ6LHHQGOLFKDXIEUOOWH5RUYLFV6WLPPH,FKULGLH$XJHQ DXI :DV JLEW HV 6LU" IUDJWH LFK PDWW .RPPHQ 6LH VRIRUW LQ GLH .DQ]HO XQG EULQJHQ 6LH PHLQ%KDYDFFD.U DPLW 9RP 9LGHRSKRQ KHU IXQNHOWHQ GLH $XJHQ GHV $OELQRV JHIlKUOLFK ]X PLU KHUEHU 'DQQ HUORVFKGDV%LOG*lKQHQGULFKWHWHLFKPLFKDXIXQGVWUHFNWHPHLQH*OLHGHU'DEHLEHPHUNWH LFK GDV GLVNXVI|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lWPLW6WHUQHQ 'DVLQG6LHMDVWHOOWH5RUYLFRKQHDXI]XVFKDXHQIHVW,FKHUODXEHPLU]XEHPHUNHQ6LU GDLFKODXW'LHQVWSODQGHU62/MHW]WHLJHQWOLFKGLHQVWIUHLKlWWH 4XDWVFKHQ 6LH QLFKW +DLQX EUXPPWH 5RUYLF XQZLOOLJ +HOIHQ 6LH PLU OLHEHU GLH 6WUDKOXQJGLHVHVYHUGDPPWHQ6\VWHPVDXV]XZHUWHQ 3HUU\ 5KRGDQ KDWWH XQV ORVJHVFKLFNW GD DXV GLHVHP 6\VWHP HLQH 5HLKH XQEHNDQQWHU +\SHUVLJQDOHHPSIDQJHQZRUGHQZDUHQ8QVHUH8QWHUVXFKXQJHUEUDFKWHGDHVVLFKXPHLQH QDWUOLFKH 6WUDKOXQJVTXHOOH KDQGHOWH GLH VLFK GDUDXV HUJDE GD GLH URWH 6RQQH YRQ HLQHP ZLQ]LJHQ *DVIHW]HQ XPNUHLVW ZXUGH DXV GHVVHQ =XVDPPHQVSLHO XQG HQWVWHKHQGHQ JUDYLWDWRULVFKHQ 8QUHJHOPlLJNHLWHQ GLH 6LJQDOH HQWVWDQGHQ ,Q VWRO]HP %HZXWVHLQ HLQHQ JHIDKUORVHQ(LQVDW]PLW5RUYLFKLQWHUPLFKJHEUDFKW]XKDEHQOLHLFKPLFKYRQGHP7LEHWHU ]XU 62/ ]XUFNIOLHJHQ :HU ZHL YLHOOHLFKW ZDU HV GHU HUVWH XQG OHW]WH (LQVDW] PLW GHP 8QJHKHXHUGHUHUHLJQLVORVYHUOLHIXQGRKQHE|VHhEHUUDVFKXQJHQHQGHWH
:LH &RPPDQGHU 'DODLPRF 5RUYLF HV VFKDIIWH LFK ZHL HV QLFKW :LU ZDUHQ LQ VLFKHUHU (QWIHUQXQJ XQVHUHU YRQ GHQ /DUHQ EHVHW]WHQ KHLPDWOLFKHQ 0LOFKVWUDH DQJHNRPPHQ XQG 3HUU\ 5KRGDQ YHUVXFKWH HUVWH .RQWDNWH ]X $WODQ XQG GHP 1(, KHU]XVWHOOHQ (U JDE 5RUYLF
HLQH6SDFH-HWXQGOLHNHLQHQ7RQYHUODXWHQZR]XVLHJXWVHLQVROOWH 6FKODIHQ6LHQLFKWVFKRQZLHGHUEHOOWHGHU$OELQREHUGHQ,QWHUNRP.RPPHQ6LHVRIRUW LQ+DQJDU9,,]XU:21'(5 (V ZDU ZLH VLFK KHUDXVVWHOOWH GLH -HW PLW GHU %H]HLFKQXQJ 62/ .DXP KDWWH LFK GLH %RGHQVFKOHXVHGHU:21'(5GHU1DPHVWDPPWHDXVQDKPVZHLVHQLFKWYRQPLUKLQWHUPLU JHODVVHQYHUOLHGLH-HWGHQ+DQJDUXQGWULHEPLWXQEHNDQQWHP=LHOLQGHQ:HOWUDXPKLQDXV ,FKHLOWH]XU=HQWUDOH 'DV ZDU HLQ $QVFKODJ DXI PHLQ /HEHQ VFKULH LFK 5RUYLF DQ )DVW ZlUH LFK DXV GHU 6FKOHXVHLQV9DNXXPGHV+DQJDUV]XUFNJHVWU]W +DOWHQ 6LH GHQ 0XQG &DSWDLQ +DLQX KHOIHQ 6LH PLU OLHEHU GHQ 6LHEHQ6RQQHQ 7UDQVPLWWHUYRQ&\QODU]XILQGHQVFKQDX]WHPLFKGHU$OELQRDQ 'HQZDV" 'HQ 6LHEHQ6RQQHQ7UDQVPLWWHU YRQ &\QODU QDWUOLFK VDJWH HU Zl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lVLJNODQJ0HLQH$QWZRUWEOLHEZLGHU(UZDUWHQ EHVFKHLGHQ -DZRKO6LUVDJWHLFKHLQIDFK'HU$OELQRVFKQDXIWHODXW ,QHLQHU(QWIHUQXQJYRQ/LFKWMDKUHQVWHKWGHUEHVDJWH7UDQVPLWWHU:LUQlKHUQXQVLKP ELVDXIHLQH/LFKWVWXQGH'DQQOHJHQZLUGHQ$QWULHEGHU-HWVWLOOXQGVFKDOWHQGLH.UDIWZHUNH DXV 'LH 1RWDJJUHJDWH ZHUGHQ XQV IU GLH NXU]H =HLW PLW GHU Q|WLJHQ (QHUJLH YHUVRUJHQ ZlKUHQGZLUGHQ8PEDXDP/LQHDUDQWULHEYRUQHKPHQ ,FK YHUVXFKWH HLQ P|JOLFKVW JHLVWUHLFKHV *HVLFKW ]X PDFKHQ 9RQ VHLQHQ (UOlXWHUXQJHQ EHJULIILFKLP$XJHQEOLFNQXUHLQV ,VWHVQLFKW]XJHIlKUOLFKLP+RKHLWVJHELHWGHU/DUHQXQGhEHUVFKZHUHQGDV6FKLIIRKQH 6FKXW]LP5DXPWUHLEHQ]XODVVHQ" 'HU$OELQRPDPLFKPLWYHUlFKWOLFKHP%OLFN 6ROOWHXQV*HIDKUGURKHQ&DSWDLQ+DOQXEHPHUNHLFKVLHJDUDQWLHUWYRU,KQHQ,P EULJHQVROOWHQ6LHVLFKHWZDVPHKU2SWLPLVPXVDQJHZ|KQHQ ,FKVFKZLHJGHQQLFKKDWWHHVVDWWLKQDXIMHGHP)OXJEHUGLHQRFKEHVWHKHQGHQ 6LFKHUKHLWVYRUVFKULIWHQGHU6RODUHQ)ORWWH]XEHOHKUHQ 'DVJDQ]H3UREOHPEHVWHKWGDULQIXKU5RUYLFIRUW]ZLVFKHQ3RVLWURQLNXQG /LQHDUNRQYHUWHUGDV%KDYDFFD.U DHLQ]XEDXHQ $EHU6LUILHOLFKHLQGDV%KD\DFFD.U DLVWHLQHNOHLQH6FKHLEH6LHZLUGEHL]XKRKHU (QHUJLH]XIXKUGXUFKGHQ.RQYHUWHU]HUVFKPHO]HQ 5RUYLFOlFKHOWHPLWOHLGLJXQGEUDFKWHPLFKLQQHUOLFK]XU:HLJOXW:RPLWKDWWHLFK YHUGLHQWGDLFKDOV0DUVLDQHUGHU$.ODVVHPLFKEHPLWOHLGHQODVVHQPXWH 6DJHQ6LHEOR6LHZROOWHQYHUKLQGHUQGDGDV$PXOHWW6FKDGHQQLPPWK|KQWHHU *HQDXGDVZROOWHLFKVDJWHLFKWURW]LJ6RVR'DVZROOWHQ6LHZLUNOLFK":DV6LHQLFKW VDJHQ&DSWDLQ+DLQX
'HU$OELQRZDQGWHVLFKDEXQGKDQWLHUWHDQGHQ.RQWUROOHQ,FKVSUWHZLHGLH6SDFH-HW EHVFKOHXQLJWH.XU]GDUDXIYHUVFKZDQGVLHLP/LQHDUUDXP([DNWHLQH/LFKWVWXQGHYRUGHP DQJHSHLOWHQ2EMHNWILHOVLHLQGHQ1RUPDOUDXP]XUFN'HU6RQQHQWUDQVPLWWHUERWHLQHQ EHUZlOWLJHQGHQ$QEOLFN6LHEHQ6RQQHQNUHLVWHQLQHLQHU(EHQHVHQNUHFKW]XXQVHUHU )OXJULFKWXQJXPHLQHQJHPHLQVDPHQ6FKZHUSXQNWGHUDXIGHQ0DVVHWDVWHUQGHXWOLFK HUVFKLHQRSWLVFKMHGRFKQLFKWDXV]XPDFKHQZDU 'LHVLHEHQ6RQQHQZDUHQ6WHUQHYRQGHU*U|H6ROVXQGEHIDQGHQVLFKLQHLQHP ZHLJHOEHQK|FKVWHQHUJLHUHLFKHQ6WDGLXP6LHELOGHWHQ]ZLVFKHQVLFKGDV7UDQVPLWWHUIHOG GDVHLQHQ'XUFKPHVVHUYRQYLHU]LJ/LFKWPLQXWHQEHVD=XPLQGHVWQDFK5RUYLFV$QJDEHQ VROOWHHVHLQ7UDQVPLWWHUIHOGVHLQREZRKOHVVLFKQLFKWYRQVHLQHU8PJHEXQJXQWHUVFKLHG'DV /LFKWGHUGDKLQWHUVWHKHQGHQ6WHUQHNDPHLQZDQGIUHLXQGXQJHEURFKHQGXUFK/HGLJOLFKGLH 6NDOHQGHU0HJHUlWHEHZLHVHQGDGRUWYRUQHQHUJHWLVFKH9RUJlQJHEHGHXWHQGHQ$XVPDHV VWDWWIDQGHQ 'HU$OELQRKDWWHEHUHLWVPLWGHP%UHPVPDQ|YHUEHJRQQHQXQGZHQLJH0LQXWHQVSlWHUWULHE GLH 6SDFH-HW PLW HLQHP )QIWHO /* DXI GDV )HOG ]X 1DFK HLQHU 9LHUWHOVWXQGH ZDU XQVHUH )DKUWSUDNWLVFKDXIJHKREHQ 'HV 7LEHWHUV )DXVW ILHO DXI GHQ +DXSWNRQWUROOKHEHO XQG GUFNWH LKQ QDFK XQWHQ $OOH )XQNWLRQHQGHU-HWHUORVFKHQ'LH1RWEHOHXFKWXQJIODPPWHDXIXQGYHUEUHLWHWHWUEHV/LFKWLQ GHU .RPPDQGR]HQWUDOH 5RUYLF VFKZHQNWH VHLQHQ 6HVVHO KHUXP XQG EOLFNWH DXIIRUGHUQG ]X PLUKHUEHU (VJLEW'LQJHDXIGHU:HOWGLHVLFK,KUHP9HUVWlQGQLVHQW]LHKHQ&DSWDLQ+DLQXVDJWHHU /HLGHU 'LH 0LVVLRQ LQ GHU ZLU XQWHUZHJV VLQG ZLUG JHWUDJHQ YRQ HLQHU %HJHJQXQJ ]ZLVFKHQPLUXQG,PDJR,,RGHU1RVWUDGDPXVDXI6WDWR(UZDUHVGHUPLUGHQ:HJ]XGLH VHP7UDQVPLWWHUJHZLHVHQXQGPLFKDXIGLH*HIDKUHQVHLQHU%HQXW]XQJKLQJHZLHVHQKDW'HU 7UDQVPLWWHUKDWZLVVHQVFKDIWOLFKH%HGHXWXQJGDHVLQGHUGHU]HLWLJHQ$XVHLQDQGHUVHW]XQJPLW GHQ .RQ]LOVY|ONHUQ ZLFKWLJ LVW RKQH =HLWYHUOXVW YRQ *DOD[LV ]X *DOD[LV ]X UHLVHQ :LU ZHUGHQGDV7UDQVPLWWHUIHOGSDVVLHUHQ*OHLFK]HLWLJZLUGGLH-HWLQGHQ/LQHDUUDXPJHKHQ'DV ]ZLVFKHQJHVFKDOWHWH $PXOHWW ZLUG YHUPXWOLFK YHUKLQGHUQ GD HV EHL GHU 7UDQVLWLRQ HLQHV JHUDGH LQ GHQ /LQHDUUDXP EHUZHFKVHOQGHQ .|USHUV ]X =ZLVFKHQIHOGHUVFKHLQXQJHQ XQG ,PSXOVYHU]HUUXQJHQ NRPPW GLH YRU DOOHP DP OHEHQGHQ 2UJDQLVPXV .RPSOLNDWLRQHQ KHUYRUUXIHQ ZUGHQ /HLGHU EHVLW]HQ ZLU EHLP =XVDPPHQIDOOHQ YRQ DNWLYHU XQG SDVVLYHU 7UDQVLWLRQNHLQH(UIDKUXQJHQ :HU DEHU JLEW XQV GLH *HZLKHLW GD .RPSOLNDWLRQHQ ZLUNOLFK DXVEOHLEHQ" ZROOWH LFK ZLVVHQ 9HUGDPPW QRFK PDO 7DWFKHU 6LH EHQHKPHQ VLFK ZLH ,KUH YHUlQJVWLJWH *URPXWWHU IDXFKWH 5RUYLF 1DWUOLFK JLEW HV NHLQH *HZLKHLW 9LHOHV VSULFKW DEHU GDIU 'LH =ZLVFKHQVFKDOWXQJGHV$PXOHWWVZLUGQRFKHLQHZHLWHUH:LUNXQJKDEHQ'DV%KDYDFFD.U D LVW DXFK DXI IQI XQG VHFKVGLPHQVLRQDOHU (EHQH HLQ 7HLO GHU (UGH :LUG HV PLW IQI XQG VHFKVGLPHQVLRQDOHQ,PSXOVHQDXIJHODGHQZDVDXIDOOH)lOOHJHVFKLHKWGDHVGLH(QHUJLHQGHU =ZLVFKHQIHOGHUDEVRUELHUWZLUGGHUPLWGHP$PXOHWWDJLHUHQGH*HJHQVWDQGGRUWKLQJHWUDJHQ ZR VLFK HLQH JU|HUH $QVDPPOXQJ GHUVHOEHQ K\SHUHQHUJHWLVFKHQ ,PSXOVH EHILQGHW 'LH 3RVLWURQLN ZLUG DOOH (UVFKHLQXQJHQ UHJLVWULHUHQ XQG GHQ /LQHDUIOXJ EHU GHU (UGH EHHQGHQ VREDOGGLH7UDQVLWLRQDEJHVFKORVVHQLVW 'HU7LEHWHUKROWHWLHI/XIW6HLQH(UNOlUXQJHQKDWWHQLKQDXHU$WHPJHEUDFKW0LFKSODJWHQ =ZHLIHO 6LQG 6LH ZLUNOLFK GDYRQ EHU]HXJW GD GDV $PXOHWW EHL GHU %HKDQGOXQJ NHLQHQ 6FKDGHQ OHLGHW" 5RUYLF]RJGHQ.RSIHLQ,KU6FKlGHOLVWOHHUHUDOVGDV9DNXXPGUDXHQ(VEHILQGHQVLFK QLFKW HLQPDO 6WUDKOXQJVSDUWLNHO GDULQ ,KU 9HUWUDXHQ LQ PHLQ %KDYDFFD .U D HKUW PLFK (U ZLQNWH JHULQJVFKlW]LJ DE 0LW ,KQHQ KDEH LFK PLU HWZDV DXIJHKDOVW 6LH PDUVLDQLVFKHU 6DQGIUHVVHU
6LULFKSURWHVWLHUHDXIGDVVFKlUIVWHDQWZRUWHWHLFKJHKDUQLVFKW9HUJHVVHQ6LHQLFKWGD LFKQXUGHPPLOLWlULVFKHQ5DQJQDFKXQWHU,KQHQVWHKH,FKELQJHQDXVRHLQ0HQVFKZLH6LH ,FKKDEH$QVSUXFKDXIGHPHQWVSUHFKHQGH%HKDQGOXQJ +DOWHQ6LHNHLQH9RONVUHGHQPHLQWHGHU$OELQREDUVFK:LUVROOWHQDQGLH$UEHLWJHKHQ (UHUKREVLFKXQGVFKOXUIWHQDFKKLQWHQ,FKIROJWHLKPJUROOHQG :LU EHQ|WLJWHQ IU GHQ (LQEDX GHV $PXOHWWV HWZDV EHU YLHU 6WXQGHQ (V UXKWH DXI HLQHP NOHLQHQ LVROLHUWHQ 6RFNHO XQG ZDU PLW GHQ .RQWUROOHOHPHQWHQ GHU 3RVLWURQLN YHUEXQGHQ ,Q GLHVHU=HLWKDWWHVLFKGHU6WDQGRUWGHU6SDFH-HWQXUXQZHVHQWOLFKYHUlQGHUW 1DFKGHP ZLU GLH IU GHQ .RQYHUWHUUDXP YRUJHVHKHQHQ 6FKXW]DQ]JH DEJHOHJW KDWWHQ EHJDEHQZLUXQVLQGLH6WHXHUNDQ]HO]XUFN'DODLPRF5RUYLFVSUDFKNHLQ:RUW8QEHZHJOLFK VDHULP3LORWHQVHVVHOXQGVWLHUWHYRUVLFKKLQ(VPRFKWHQEHUIQI0LQXWHQYHUJDQJHQVHLQ XQGLFKWUXJPLFKEHUHLWVPLWGHP*HGDQNHQGLH.DIIHHNDQQH]XKROHQGDUKUWHHUVLFKHQG OLFK 6HLQ UHFKWHU $UP IXKU QDFK YRUQ (U DNWLYLHUWH GLH (QHUJLH]XIXKU ]X DOOHQ 6\VWHPHQ GLH 1RWEHOHXFKWXQJVFKDOWHWHVLFKDE(UEHVFKOHXQLJWHGLH6SDFH-HWXQGEHJDQQNRQ]HQWULHUWGDV 3URJUDPP IU GHQ 7UDQVLWLRQVVSUXQJ LQ GLH %RUGSRVLWURQLN ]X WLSSHQ ZlKUHQG LFK GHQ JHQDXHQ$EVWDQG]XP6RQQHQWUDQVPLWWHUHUPLWWHOWH(UEHWUXJQHXQXQGYLHU]LJ/LFKWPLQXWHQ 1DFK ]HKQ 0LQXWHQ %RUG]HLW KDWWH GHU $OELQR GDV 3URJUDPP IHUWLJ XQG EHUSUIW (U EHVFKOHXQLJWHGLH-HWPLW0D[LPDOZHUWHQXQGJLQJQRFKPDOVLQGHQ=ZLVFKHQUDXP ,P$EVWDQGYRQIQI/LFKWPLQXWHQ]XP7UDQVPLWWHUOLHHUGDV)DKU]HXJLQGHQ1RUPDOUDXP ]XUFNIDOOHQXQGVHW]WHGHQ)OXJPLWHLQIDFKHU/*IRUW 1RFKYLHU0LQXWHQ 8QK|UEDU DUEHLWHWH GLH 3RVLWURQLN 5RUYLF VSUDFK QRFK LPPHU NHLQ :RUW $XIPHUNVDP PXVWHUWHHUGLH.RQWUROOLFKWHUGHV6WHXHUSXOWV 1RFK]ZHL0LQXWHQ $EUXSWVFKZHQNWHGHU$OELQRVHLQHQ6HVVHO]XPLUKHUEHU(VLVWVRZHLW7DWFKHUPHLQWH HUYHUV|KQOLFK Ä:LUZLVVHQQLFKWREZLUGHQ6SUXQJEHUVWHKHQ(VLVWZDKUVFKHLQOLFKGD,KU.|USHUHV HLQIDFKHUKDEHQZLUGDOVPHLQHYRQYLHOHUOHL.UlIWHQGXUFK]RJHQH*HVWDOW6ROOWHLFKQDFKGHU 5HPDWHULDOLVDWLRQPHLQHPHQVFKOLFKH.|USHUIRUPQLFKWPHKUEHVLW]HQOLHJWHVDQ,KQHQ &DSWDLQD+DLQXVRIRUWGLH(QHUJLH]XIXKUVWLOO]XOHJHQGDV%KDYDFFD.U DDXV]XEDXHQXQG VFKOHXQLJVWPLWGHQhEHUUHVWHQPHLQHV.|USHUVLQ%HUKUXQJ]XEULQJHQ -DZRKO6LUVDJWHLFKEHGUFNWXQGPLWOHLFKWHP8QZRKOVHLQLQGHU0DJHQJHJHQG ,QQHUOLFKZDULFKYHUXQVLFKHUW,FKZXWHQLFKWJHQDXRELFKPLFKYHUK|UWKDWWHRGHUREHU WDWVlFKOLFKPHLQHQ1DPHQYROOVWlQGLJDXVJHVSURFKHQKDWWH 'LHOHW]WHQ]ZDQ]LJ6HNXQGHQGDXHUWHQHLQH(ZLJNHLW6HLWZlUWVVWDQGGHU5LQJGHV6LHEHQ 6RQQHQ7UDQVPLWWHUV*HUDGHDXVJOLW]HUWHQGLH6WHUQHGHU0LOFKVWUDH$P6WHXHUSXOWHUVFKLHQ HLQ JUQHV /LFKW 5RUYLF QLFNWH PLW GHP .RSI 'DQQ YHUVFKZDQG GHU 6LHEHQ6RQQHQ5LQJ SO|W]OLFKDOVGLH6SDFH-HWGHQ(LQVWHLQ5DXPYHUOLH*OHLFK]HLWLJDEHUVSUWHLFKGHQ EHUDOOH0DHQVWDUNHQ(QWPDWHULDOLVDWLRQVVFKPHU] ,FKZROOWHVFKUHLHQ
$XVGHP1LFKWVKHUDXVELOGHWHQVLFKURWORGHUQGH)HXHUGLHYRQ6WHUQHQZLQGHQKLQXQGKHU JHWULHEHQZXUGHQ6FKDWWHQKXVFKWHQYRUEHL6HOWVDPOHXFKWHQGH6SLUDOHQZDQGHUWHQXPKHU ZLUEHOWHQGXUFKHLQDQGHUXQGO|VWHQVLFKDXI'D]ZLVFKHQWDXFKWHHLQGXQNHOURWSXOVLHUHQGHU %DOODXIYHUVFKHXFKWHGLHVSLUDOLJHQ*HELOGHGLHLKUH$UPHYHUODQJHQGQDFKLKP DXVVWUHFNWHQ'HU%DOOHLOWHKHUDQELVHUDOOHVDXVIOOWH(EHQVR VFKQHOO]RJHUVLFK]XUFNVRGDHUNDXPQRFKDXV]XPDFKHQZDUQlKHUWHVLFKHUQHXW]RJ VLFKZLHGHU]XUFN
'LH)HXHUH[SORGLHUWHQ-HGH)DVHUGHV*HKLUQVVFKLHQDQJHVSDQQWXQG]HUULVVHQ]XZHUGHQ 'HU.|USHUZDURKQH6NHOHWWXQGZXUGHZLHHLQ*XPPLEDQGVWlQGLJDXVHLQDQGHUJH]RJHQXQG NRQWUDKLHUW'LHURWHQ:LUEHOGHU([SORVLRQO|VWHQVLFKDOOPlKOLFK DXI XQG ZLFKHQ ]XQlFKVW H[LVWHQ]ORVHU6FKZlU]H 'DQQELOGHWHVLFKODQJVDP%HZXWVHLQ6FKPHU]NDPDXI,FKVFKULHRKQHPLFK]XK|UHQ 0HLQ.|USHUUHPDWHULDOLVLHUWHXQGPLUZXUGHEHZXWGDLFKQRFKH[LVWLHUWH 'LH 7UDQVLWLRQZDUYRUEHU.|USHU XQG *HLVWJHK|UWHQ ZLHGHU GHP1RUPDOUDXP DQDEHU MHGHV $WRP VFKPHU]WH /DQJVDP NHKUWH GLH 8PZHOW ]XUFN GLH $XJHQ QDKPHQ YHUVFKZRPPHQ*HJHQVWlQGHZDKU'LH2KUHQHPSILQJHQPHLQ6FKUHLHQXQGHLQ*HW|VHGDV YRQEHUDOOKHU]XNRPPHQVFKLHQ,FKPHUNWHGDLFKPLFKLP6HVVHOKLQXQGKHUZlO]WH)DVW XQPHUNOLFK OLHHQ GLH 6FKPHU]HQ QDFK (UVFK|SIW VDQN LFK ]XVDPPHQ XQG VWDUUWH DXI GLH LPPHUQRFKDNWLYHQ%LOGVFKLUPHGLHGLHURWHQ6FKOLHUHQGHV+\SHUUDXPV]HLJWHQ ,Q GLHVHP $XJHQEOLFN NHKUWH GLH 6SDFH-HW LQ GHQ 1RUPDOUDXP ]XUFN ,FK HUEOLFNWH HLQHQ EODXJUQ VFKLOOHUQGHQ YRQ ZHLHQ 6FKZDGHQ GXUFKVHW]WHQ %DOO GHU PLW XQKHLPOLFKHU *HVFKZLQGLJNHLWDXIGLH-HW]XUDVWH(LQHQ$XJHQEOLFNGDXHUWHHVELVPHLQHJHTXl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lQGHUXQJPHLQHVbXHUHQNRQQWHLFKQLFKWIHVWVWHOOHQ$XIDWPHQG EHJDQQLFKPHLQHVFKPHU]HQGHQ*OLHGHU]XEHWDVWHQ%DOGKDWWHLFKKHUDXVJHIXQGHQGD DOOHVLQ2UGQXQJZDU,FKOHKQWHPLFKHUQHXW]XUFNXQGDWPHWHWLHIGXUFK 'DHUVWILHOPLUGLHXQQDWUOLFKH6WLOOHLQGHU=HQWUDOHDXI 6LU"IUDJWHLFKOHLVH .HLQH$QWZRUW0HLQ%OLFNZDQGHUWHKLQEHUZRGHU$OELQRVDRGHUYLHOPHKUVLW]HQ VROOWH6HLQH.RPELQDWLRQODJ]HUNQLWWHUWLP6HVVHOXQGDXILKUVFKZDPPHLQHJUlXOLFKH JDOOHUWDUWLJH0DVVHXQGSXOVLHUWHYRUVLFKKLQ %HLP0DUVVWLHLFKKHUYRUGDPLUDXFKGDVQRFKSDVVLHUHQPX 6FKZDQNHQGHUKRELFKPLFKEHXJWHPLFKDXIGLHOLQNH6HLWHKLQEHUXQGSURJUDPPLHUWHHLQ %UHPVPDQ|YHU GDV GLH )DKUW GHU -HW LQ NU]HVWHU =HLW DXIKRE 'DUDXIKLQ GHDNWLYLHUWH LFK VlPWOLFKH 6\VWHPH XQG PDFKWH PLFK DQ GLH 5HWWXQJ GHV 7LEHWHUV (V ZXUGH HLQH ODQJH XPVWlQGOLFKH3UR]HGXUGHQQLFKNRQQWHPLFKNDXPEHZHJHQ :LHLFKLQGHQ.RQYHUWHUUDXPNDPGDVJHOEOLFKVFKLPPHUQGH$PXOHWWDXVEDXWHXQGDQPLFK QDKPLFKYHUPDJHVQLFKW]XVDJHQ $OVLFKDXVGHP6FKXW]DQ]XJVWLHJXQGGDV%KDYDFFD.U DPLWEORHQ+lQGHQDQIDWHHUKLHOW LFKHLQHQHOHNWULVFKHQ6FKODJGHUPLFKYRQGHQ)HQUL6HOWVDPHUZHLVHVSUWHLFKVRIRUW GDQDFKPHLQH/HEHQVNUlIWH]XUFNNHKUHQ$UPHXQG%HLQHPDVVLHUHQGHUKRELFKPLFK]RJ HLQHQ+DQGVFKXKGHV6FKXW]DQ]XJVEHUXQGUDQQWHPLWGHP$PXOHWW]XU=HQWUDOH$QJHHNHOW ZDUILFKHVLQGHQ3LORWHQVHVVHO =XHUVW JHVFKDK QLFKWV 'DQQ ]LVFKWH XQG EURGHOWH HV 'LH *DOOHUWH ]RJ VLFK ]XVDPPHQ YHUIlUEWHVLFKZHLOLFKXQGEHJDQQ]XURWLHUHQ,QQHUKDOEYRQ6HNXQGHQYHUGLFKWHWHVLHVLFK ]XHLQHUVFKPDOHQ6lXOHGHKQWHVLFKZLHGHUDXVXQGHUKLHOWODQJVDP)RUPHQGLHPLUEHNDQQW YRUNDPHQ,FKDWPHWHDXI 'LH8PULVVHQDKPHQVFKQHOOGDV$XVVHKHQ'DODLPRF5RUYLFVDQGHUDOVEDOGDXVGHP6HVVHO VWLHJXQGLQVHLQH:lVFKHVFKOSIWH
:LHJHKWHV,KQHQ6LU"HUNXQGLJWHLFKPLFK(UVDKPLFKPLWJURHQ$XJHQDQ 'DQNH,FKGDFKWHVFKRQ6LHZUGHQZDUWHQELVVLFKGLH(QHUJLHGHV$PXOHWWVYHUIOFKWLJW KlWWH'DVZlUHPHLQ7RGHVXUWHLOJHZHVHQ .HLQH6RUJH6LU,FKKDEHVWHWVQXU,KU%HVWHVJHZROOWYHUVLFKHUWHLFKWUHXKHU]LJ=XGHP HUOHEWHLFKGLHKHLOVDPH:LUNXQJGHV%KDYDFFD.U DDPHLJHQHQ/HLE$EHUEHLQDKHZlUHHV QLFKW GD]X JHNRPPHQ 'LH -HW PDWHULDOLVLHUWH GLFKW EHU HLQHP 3ODQHWHQ XQG GURKWH DE]XVWU]HQ5HFKW]HLWLJNRQQWHLFKGLH1RWDXWRPDWLNDNWLYLHUHQ 'DVKDEHQ6LHDXVJH]HLFKQHWJHPDFKW7DWFKHU$EHULFKVHKHZLUIOLHJHQLQGHQ/HHUUDXP :RLVWGHQQGLH(UGH" ,FKZHLHVQLFKW6LU $EHUZLUVLQGGRFKKP'HU$OELQREHJDQQ]XOlFKHOQ :RLVWGHU3ODQHWEHUGHPZLUPDWHULDOLVLHUWHQ&DSWDLQ+DLQX" ,FKGHXWHWHEHUGLH6FKXOWHU Ä'HUOLHJWKLQWHUXQV 'DQQZHQGHQ6LHVFKOHXQLJVWXQGIOLHJHQLKQDQ2GHUJODXEHQ6LHZLUHUVFKHLQHQEHU GHU(UGHRKQHGHQ)XDXILKUH2EHUIOlFKH]XVHW]HQ" 'DVVROOGLH(UGHJHZHVHQVHLQ"'DVLVWXQP|JOLFK'LH(UGHVWHKWLP0DKOVWURPGHU 6WHUQH:RDEHUVLQGZLUKHUDXVJHNRPPHQ",QHLQHUIUHPGHQ*DOD[LV'DV%KDYDFFD.U D KDWQLFKWZLHHUZDUWHW 5RUYLFOLHIURWDQ 6LHHOHQGHU1LKLOLVWGRQQHUWHHU6RIRUWNRPPHQ6LHPHLQHP%HIHKOQDFK 'DVZDUMDQRFKVFK|QHU(UVWUHWWHWHLFKGLHVHP8QJHKHXHUGDV/HEHQZRIUHVVLFKQLFKW HLQPDOEHGDQNWKDWWHXQGGDQQYHUUDQQWHHVVLFKLQHLQHVHLQHUKLUQJHVSLQVWLJHQ,GHHQ%HL XQVHUHU5FNNHKUZUGHLFKPLFKEHUGHQ$OELQREHVFKZHUHQVFKZRULFKPLU)DOOVHVHLQH 5FNNHKUJDE ,FKUHDNWLYLHUWHDOOH6\VWHPH'LH6SDFH-HWZHQGHWHLQJURHP%RJHQZREHLVLFKGDV 6\VWHPLKUZLHGHUQlKHUWH-HW]WVDKLFKDXFKZRPLWZLUHV]XWXQKDWWHQ(VZDUHLQ 6RQQHQV\VWHPEHVWHKHQGDXVYLHU.|USHUQQlPOLFKGHU6RQQHXQG]ZHL3ODQHWHQYRQGHQHQ GHUEODXJUQHYRQHLQHP7UDEDQWHQEHJOHLWHWZXUGH 'DVLVWGRFKQLFKW]XIDVVHQK|UWHLFKGHQ$OELQRKLQWHUPLU'DVGRUWLVW]ZHLIHOORV 0HGDLOORQGHU3ODQHWOLQNV*RVKPRV&DVWOH7HUUDXQG/XQDVWHKHQUHFKWVYRQXQV 'DVVROOHQ7HUUDXQG/XQDVHLQ"]ZHLIHOWHLFK8QGGDVGRUWGLH6RQQH" 0HGDLOORQYHUEHVVHUWH5RUYLF(UWUDW]XVHLQHP6HVVHOKREGDVGDULQOLHJHQGH$PXOHWW DXIXQGVWHFNWHHVLQGLH%UXVWWDVFKHVHLQHU.RPELQDWLRQ (LQHVLVWQXUPHUNZUGLJVLQQLHUWHHU:DUXPKDWGDVSHUIHNWH$EZHKUV\VWHPGHU $SKLOLNHUEHLXQVHUHP$QIOXJQLFKWUHDJLHUW+DEHQ6LHNHLQH6LJQDOHDXIJHIDQJHQ" 1HLQ$EHUGLH(UNOl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lWH .HLQ HLQ]LJHV 5DXPVFKLII YHUNHKUW LQ GLHVHP 6\VWHP 1LFKW HLQPDO :DFKJOHLWHU IOLHJHQ LKUH 5RXWHQ DE (V JLEW ZHGHU (PLVVLRQHQ QRFK DQGHUH (UVFKHLQXQJHQ GLH HLQHQ +LQZHLV DXI LQWHOOLJHQWHV/HEHQJHEHQZUGHQ0LW$XVQDKPHGHU6RQQHLVWGDV6\VWHPHQHUJHWLVFKWRW
5RUYLFEOLHEVWXPP 9LHOOHLFKW KDW GLH WHUUDQLVFKH 0HQVFKKHLW GLH 5DXPIDKUW XQG GLH WHFKQLVFKH =LYLOLVDWLRQ DXIJHJHEHQ9LHOOHLFKWLVWHLQQHXHU+RPR6XSHULRUHQWVWDQGHQPHLQWHLFKVS|WWLVFK (LQE|VHU%OLFNDXVGHQ$XJHQGHV7LEHWHUVWUDIPLFK (LQHV 7DJHV ZHUGH LFK ,KU *HKLUQ GXUFK HLQ 6WFN 3ODVPD YRQ GHU +XQGHUWVRQQHQZHOW HUVHW]HQODVVHQ&DSWDLQ+DLQX :LU KDWWHQ XQV GHP 3ODQHWHQ LQ]ZLVFKHQ VR ZHLW JHQlKHUW GD GLH HUVWHQ (LQ]HOKHLWHQ GHU 2EHUIOlFKHDXV]XPDFKHQZDUHQ5RUYLFEUHPVWHZHLWHUDE 9HUVXFKHQ6LHQRFKPDOV,PSHULXP$OSKD]XHUUHLFKHQEHIDKOHU ,FK WDW HV REZRKO LFK YRP 0LHUIROJ PHLQHV %HJLQQHQV EHU]HXJW ZDU ,PSHULXP$OSKD DQWZRUWHWHQLFKW'HU$OELQREHJDQQQHUY|VDQGHU8QWHUOLSSH]XQDJHQ ,FKELQEHU]HXJWGDHVQLFKWVHW]WHLFKDQ:HLWHUNDPLFKQLFKW(QWJHLVWHUWVWDUUWHLFK GHQ %LOGVFKLUP DQ 0HLQ %OLFN ZDU DXI GHQ DPHULNDQLVFKHQ 'RSSHONRQWLQHQW JHIDOOHQ (LQ EUHLWHV*ULQVHQGXUFK]RJGHV7LEHWHUVIHWWHV*HVLFKW 1DJODXEHQ6LHLPPHUQRFKQLFKWDQGLH8QIHKOEDUNHLWPHLQHV%KDYDFFD.U D"IUDJWHHU KHUDXVIRUGHUQG,FK]RJHVYRUGHQ8QEHWHLOLJWHQ]XVSLHOHQ 'LH-HWEUHPVWHQRFKVWlUNHUDEXQGVFKZHQNWHVFKOLHOLFKLQHLQH=ZHLKXQGHUW.LORPHWHU .UHLVEDKQHLQ(VZDUZLUNOLFKXQVHUHJXWHDOWH(UGH,KUH$WPRVSKlUHVFKLPPHUWHLP/LFKW GHU6RQQH0HGDLOORQLQEODXJUQHP)DUEWRQ,QYHUVFKLHGHQHQ5HJLRQHQWREWHQVFKZHUH 6WUPH 'LH(UGHKDWVLFKJHZDOWLJYHUlQGHUWVDJWHLFK5RUYLFQLFNWHVFKZHUPWLJ 'DV0HUNZUGLJVWHMHGRFKLVWGDVLHLUJHQGZRLP8QLYHUVXPDQHLQHUXQEHNDQQWHQ 3RVLWLRQVWHKW:DVPDJYRUJHIDOOHQVHLQ"IOVWHUWHHU (UKDWWHVLFKDXVGHP3LORWHQVLW]HUKREHQXQGJLQJXQUXKLJKLQXQGKHU+LQWHUVHLQHU6WLUQ DUEHLWHWHHWZDVILHEHUKDIW$XFKPHLQH*HGDQNHQMDJWHQVLFK,FKKDWWHRSWLVFKHQ2UWXQJV XQG(UIDVVXQJVNRQWDNWLQVWlQGLJHU$XVZHUWXQJXPYLHOOHLFKWHLQH%HZHJXQJDXIGHU 2EHUIOlFKHDXVPDFKHQ]XN|QQHQ9HUJHEHQV1XUHLQHLQ]LJHV0DOWDXFKWHHLQVFKZDU]HU 6FKDWWHQLQGHU$XVVFKQLWWVYHUJU|HUXQJGHV%LOGVFKLUPVDXIGHUVRIRUWZLHGHUYHUVFKZDQG ,FKZDUPLUVLFKHUGDHVHLQHGHUXQ]lKOLJHQ:RONHQElQNHZDUGLHUXQGXPGHQ3ODQHWHQ MDJWHQ$OOHVNDPPLUXQZLUNOLFKYRUDOVKDQGOHHVVLFKXPHLQH3URMHNWLRQ,FKZDQGWHPLFK GHP$OELQR]X(UZDUVWHKHQJHEOLHEHQ$XIVHLQHP*HVLFKW]HLJWHVLFK]XPHUVWHQPDO 5DWORVLJNHLW(UVDKPLFKDQ 9HUVXFKHQ6LHQRFKPDOVHLQH9HUELQGXQJPLW,PSHULXP$OSKDKHU]XVWHOOHQ7DWFKHU :LHHUZDUWHWEOLHEGHU+\SHUNRPVWXPP,FKVFKDOWHWHGHQ5DGLRNRPHLQ'LH$QWHQQHZDU H[DNW DXI GLH LUGLVFKH =HQWUDO DXVJHULFKWHW GLH DXI GHU (UGKlOIWH ODJ GLH ZLU ]XU =HLW EHUIORJHQ 'DQQ WUDW HLQ ZDV ZLU QLFKW PHKU IU P|JOLFK JHKDOWHQ KDWWHQ $XV GHP (PSIDQJVWHLO XQVHUHV *HUlWV NDP HLQ JOHLFKPlLJHU 3HLOWRQ ZLH HU LP LUGLVFKHQ )XQNYHUNHKU DOOJHPHLQ EOLFKZDU-HW]W]HLJWHDXFKGLH(QHUJLHRUWXQJHLQHQJHULQJIJLJHQ$XVVFKODJDQ(VZDUHLQ NOHLQHV*HUlWGDVGRUWXQWHQDUEHLWHWHYLHOOHLFKWHLQ1RWDJJUHJDW (VNQDFNWHLP/DXWVSUHFKHU'HU3HLOWRQYHUVWXPPWHXQGGHU%LOGVFKLUPHUKHOOWHVLFK(U ]HLJWHGDV6\PEROGHULUGLVFKHQ0DFKW]HQWUDOH*HVSDQQWVWDQGHQZLUGDYRU 'DV %LOG ZXUGH XQVFKDUI ELOGHWH 6FKOHLHU XQG 4XHUOLQLHQ YHUVFKZDQG NXU] XQG WDXFKWH ZLHGHUDXI0DQVFKLHQ6FKZLHULJNHLWHQPLWGHU7HFKQLN]XKDEHQ1RFKHLQPDONQDFNWHHV 'DV6\PEROYHUVFKZDQGDXIGHP%LOGVFKLUPHUVFKLHQGHU2EHUN|USHUHLQHV0DQQHVGHQLFK VHKUJXWNDQQWH:LUKDWWHQXQVELVYRUNXU]HP]XVDPPHQDXIGHU62/DXIJHKDOWHQELVHUGHQ 6SH]LDOLVWHQ GHU 1DFKW GXUFK GDV %ODFN +ROH JHIROJW ZDU 6HLQ *HVLFKW ZXUGH YRQ HLQHU 0DVNHYHUGHFNW $ODVND6DHGHODHUHHQWIXKUHVPLU &DSWDLQD+DLQXVWLHGHU7UDQVPLWWHUJHVFKlGLJWHKHUYRU:REHILQGHQ6LHVLFK" ,FKZXUGHHLQHU$QWZRUWHQWKREHQ'HU$OELQRKDWWHPLFK]XU6HLWHJHVFKREHQXPLQGHQ
(UIDVVXQJVEHUHLFKGHU.DPHUD]XNRPPHQ :LUEHILQGHQXQVLQHLQHU8PODXIEDKQXPGLH(UGH6DHGHODHUHXQGZLUVLQGDOOHLQVDJWH HU 'DODLPRF 5RUYLF HQWJHJQHWH $ODVND EHUUDVFKW ,KQHQ WUDXH LFK DOOHUGLQJV ]X DQ MHGHU EHOLHELJHQ6WHOOHGHV8QLYHUVXPVDXI]XWDXFKHQXQGIU 'HU$OELQRXQWHUEUDFKLKQ %HYRUZLUSODXGHUQEHDQWZRUWHQ6LHPLUELWWHHLQH)UDJH:DVLVWDXIGHU(UGHORVZDVLVW PLWGHU0HQVFKKHLWJHVFKHKHQ" (V JLEW NHLQH LUGLVFKH 0HQVFKKHLW PHKU &RPPDQGHU 5RUYLF VDJWH GHU 7UDQVPLWWHUJHVFKlGLJWHPLWEUFKLJHU6WLPPH ,FKIKOWHZLHGDV%OXWDXVPHLQHP*HVLFKWZLFK'LH*HUlWHXQGGDV6WHXHUSXOWYRUPLU ZXUGHQDXIVHOWVDPH$UWGXUFKVFKHLQHQG,FKJODXEWHPLFKLQPHLQH.DELQHDQ%RUGGHU62/ YHUVHW]W 'LH :lQGH JOLWWHQ EHGURKOLFK DXI PLFK ]X HQWIHUQWHQ VLFK GDQQ ELV LQ GLH 8QHQGOLFKNHLW(LQ9RUJDQJVSLHOWHVLFKDEGHUPLUIDVWGDV%HZXWVHLQUDXEWH 8QGGDQQPLWHLQHP0DOZXWHLFKZDVORVZDU 'X KDVW JHWUlXPW GXUFK]XFNWH HV PLFK ZlKUHQG GLH 8PJHEXQJ HQGJOWLJ YRU PHLQHQ $XJHQYHUVFKZDPP'XELVWGRFKJHUDGHGDEHLGHQOHW]WHQQRWZHQGLJHQ6FKULWW]XWXQ -D LFK KDWWH PLFK EHUHLWV YRU PHKUHUHQ 6WXQGHQ HQWVFKLHGHQ $EHU ZDUXP MHW]W GLHVHU 7UDXPGLHVH(ULQQHUXQJDQJXWHDOWH=HLWHQ"5RUYLFXQGLFKZDUHQQLHLQ:LUNOLFKNHLWDOOHLQ ]X GHU YHUODVVHQHQ (UGH JHODQJW HUVW DQ %RUG GHU 62/ DOV 7HUUD OlQJVW YRQ HLQHU NOHLQHQ 0DMHVWlWUHJLHUWZXUGH 9RQ LUJHQGZRKHU K|UWH LFK HLQ )OVWHUQ XQ]lKOLJHU 6WLPPHQ 8QG GD]ZLVFKHQ GU|KQWH 5RUYLFLQVHLQHPKHUDXVIRUGHUQGVWHQ6RQDU (VLVW(ULQQHUXQJXQG=XNXQIW]XJOHLFK6LHPDUVLDQLVFKHU=ZHUJHVHO (VJDENHLQHLUGLVFKH0HQVFKKHLWPHKU6LHZDUDXI GHP:HJ]XUXQLYHUVHOOHQ0HQVFKKHLWPLWYLHOHQYHUVFKLHGHQHQ$XIJDEHQXQG=LHOHQ]X ZHUGHQ 0LW GLHVHP *HGDQNHQ JOLWW LFK KLQEHU =XP OHW]WHQPDO KDWWH LFK LQ GHU YHUJDQJHQHQ =HKQWHOVHNXQGHHLQ$EHQWHXHUPLWPHLQHP3V\FKRSDUWQHUHUOHEW,Q=XNXQIWZUGHLFK5RUYLF QXU DE XQG ]X LQ GHU JURHQ 0HQJH GHU *HGDQNHQ VSUHQ GLH GDQQ DXFK PHLQH *HGDQNHQ ZDUHQ$EHULFKZUGHLKPQlKHUVHLQDOVMH]XYRU'DVZXWHLFKPLWXQWUJOLFKHU6LFKHUKHLW 'DV)OVWHUQZXUGHVWlUNHU,FKIKOWHGLH$QZHVHQKHLWDQGHUHU0XWDQWHQ8QGGDQQVDKLFK GLH+HOOHDXIGLHLFKPLFK]XEHZHJWH'LHVHVJOHLHQGH(WZDVHLQH%DOOXQJDXV(QHUJLHXQG 3VL,FKMXEHOWH,FKNRPPHULHILFK,FKELQGD-DPHLQ)UHXQGDQWZRUWHWH(6
(1'(
