+$16.1(,)(/
:HWWIDKUWGHU(QWGHFNHU 3ODQHWHQURPDQ
(5,&+3$%(/9(5/$*.*5$67$77%$'(1 3ULQWHGLQ*HUPDQ\ 6HSWHPE...
108 downloads
289 Views
837KB 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
+$16.1(,)(/
:HWWIDKUWGHU(QWGHFNHU 3ODQHWHQURPDQ
(5,&+3$%(/9(5/$*.*5$67$77%$'(1 3ULQWHGLQ*HUPDQ\ 6HSWHPEHU
.+$=$LVWGHU]ZHLWHYRQIQI3ODQHWHQGLH/LFKWMDKUHYRQGHU(UGHHQWIHUQWVLFKXPGLH 6RQQH5DWRV(ERUEHZHJHQHLQHQ.26WHUQYRQ/HXFKWNUDIW6RQQHQHLQKHLWHQXQG*UDG &HOVLXV 2EHUIOlFKHQWHPSHUDWXU 'LH (LQJHERUHQHQ GHU YLHU LQVHODUWLJHQ .RQWLQHQWH QHQQHQ GHQ 6WHUQ ª&DU\EGHD $FURSLV© GDV LVW GHU 9RJHO PLW GHP EUHQQHQGHQ $XJH .KD]D LVW SODQHWHQJHVFKLFKWOLFK JHVHKHQ QRFK UHODWLY MXQJ GLH IROJHQ VLQG DQGDXHUQGHU 9XONDQLVPXV EHVRQGHUV LQ GHQ Q|UGOLFKHQ =RQHQ GHV 3ODQHWHQ XQWLHIH 0HHUH PHLVW WURSLVFKHU 3IODQ]HQZXFKV XQG LQVHODUWLJH .RQWLQHQWH 'LH 1RUGODQG%DUEDUHQ UXQG XP GHQ 1RUGSRO DQJHVLHGHOW ZDQGHUQ ]XP .RQWLQHQW GHU 1LJKPDQHQ XQG VHOWHQHU ]X GHQ =DNRWHUQ GHV :HVWNRQWLQHQWV XQG YHUGLQJHQ VLFK GRUW DOV 6|OGQHU 7UXSSHQIKUHU RGHU 6NODYHQ ² HLQH VR]LDOH 5HJHOXQJ YRQ GHU GLH PHLVWHQ %HZRKQHU ]XWLHIVW EHIULHGLJW VLQG 9RU -DKUWDXVHQGHQ ZDQGHUWHQ IUKH $NRQHQ KLHU HLQ YHUJDHQ LKUH 7HFKQLN XQG HQWZLFNHOWHQ HLQH .XOWXU GLH LQ DOOHQ LKUHQ bXHUXQJHQ PHUNZUGLJ MHGRFK IU HLQHQ+LVWRULNHUOHLFKW]XYHUVWHKHQLVW6LHHQWVSULFKWLQLKUHU+|KHXQGLQYLHOHQbXHUXQJHQMHQHU WHUUDQLVFKHQ .XOWXU GLH $OH[DQGHU GHU *URH DQWUDI DOV HU VHLQHQ :HJ EHJDQQ 9RU ZHQLJHQ 7DJHQ MHW]W LP 1RYHPEHU ZDU GLH +HUUVFKDIW GHV .5$7$ EHHQGHW ZRUGHQ ² .KD]D ZUGH ZLHGHULQGLHJHODVVHQH5XKHGHV9HUJHVVHQV]XUFNVLQNHQ
ª0DQQ GHV 6FKZHUWHV© VDJWH GHU )UHPGH DOV GHU NOHLQH *OHLWHU DP (LQJDQJ GHV 7DOHV DQKLHOW ªGDVLVWHLQ$QEOLFNGHUVHOEVWHLQHQDOWHQ0DQQZLHPLFKKLQUHLW© 'HU VFKZDU]KlXWLJH %DUEDU LP VWlKOHUQHQ 6FKXSSHQSDQ]HU LQ HLQHQ ULHVLJHQ URVWURWHQ 0DQWHO JHKOOWEHWUDFKWHWHGLH/DQGVFKDIWXQWHUGHPHUVWHQ/LFKWGHV0RUJHQV6HOEVWLKPZDUVLHIUHPG ª6R LVW HV© VDJWH HU *H]ZXQJHQ ZRFKHQODQJ HLQH 5ROOH SHUIHNW ]X VSLHOHQ NRQQWH HU VLFK QXU VFKZHUYRQGHU$QJHZRKQKHLWEHIUHLHQHOOHQODQJHUHGXQGDQWH6lW]HLQGHUEOXPHQUHLFKHQ6SUDFKH .KD]DV YRQ VLFK ]X JHEHQ ª:LU ZHUGHQ GLH 6FKZHVWHU GHV 7UDQNHV EHVXFKHQ XQG XP HLQ 1DFKWODJHUELWWHQ²VLHKDEHQHLQKHUUOLFKHV%LHULP2UW© ª(LQYHUVWDQGHQ© VDJWH GHU ZHLKDDULJH 0DQQ PLW GHP KDUWJHVFKQLWWHQHQ *HVLFKW OHLVH 'LH 8QLWHG6WDUV2UJDQLVDWLRQKDWWHVLFKPLW.KD]D]XEHVFKlIWLJHQJHKDEWPXWHDEHUGDUDXIDFKWHQ GD LKU(LQVDW]XQEHPHUNWYRUVLFK JLQJ6LHGXUIWHQXQG ZROOWHQVLFK QLFKWLQ GLH*HVFKLFKWHGHV 3ODQHWHQ HLQPLVFKHQ 'HU %DUEDU VHLQ 1DPH ZDU *DUD] ª0HLVWHU© 7 DEDQ 7HQWKUHGR OHJWH VHLQH UHFKWH+DQGDXIGLHHLJURH$XVEXFKWXQJXQWHUGHPVFKZDU]HQ3DQ]HUXQGQLFNWH'DQQVWHXHUWHHU GHQ*OHLWHULQHLQVLFKHUHV9HUVWHFN9RQKLHUDXVZUGHQVLHLKUHQ:HJ]X)XIRUWVHW]HQ ª,FKKDEHDOOHVEHU.KD]DJHOHVHQ©VWHOOWHGHU:HLKDDULJHIHVWª+LHUDP3RODUNUHLVKHUUVFKHQ 0\WKHQGLHPLFKDQ(UOHEQLVVHYRU-DKUWDXVHQGHQHULQQHUQ'HU.D\DOD.XOWEHLVSLHOVZHLVH© 6LH UROOWHQ HLQLJH )HOVHQ YRU GLH NOHLQH +|KOH 'DQQ JLQJHQ VLH GLH 6RQQH LP 5FNHQ DXI GLH JHZXQGHQH3DVWUDH]XKLQWHUGHUHQ.LHVGDV7DOEHJDQQ'DV7DOGHU1D\VDWZDUHLQHGHUYLHOHQ JHRORJLVFKHQ 6HKHQVZUGLJNHLWHQ .KD]DV XQG ]XGHP YRQ HLQLJHQ WDXVHQG VFKZDU]KlXWLJHQ 1RUGOlQGHUQEHZRKQW
ª'HU .D\DOD.XOW LVW NHLQ 0\WKRV© VDJWH 7 DEDQ 7HQWKUHGR ª(V LVW GLH :LUNOLFKNHLW ,FK KDEH ]ZHL+LQULFKWXQJHQHUOHEWXQGLFKVFKZ|UHHV,KQHQ²GLH+LQJHULFKWHWHQZDUHQZLUNOLFKWRW© 6LHNDPHQYRUEHLDQHLQHU]HUEU|FNHOQGHQ5XLQH'HU:DFKWXUPDXV7XIIJHVWHLQXQGVFKZDU]HQ %DVDOWEURFNHQ DXIJHEDXW ZDU YRQ REHQ ELV XQWHQ LQ 6FKOHLHU XQG 6WDODNWLWHQ HLQJHKOOW GLH ZLH VFKZHUH WURSIHQGH :DFKVNHU]HQ DXVVDKHQ *HOEH XQG URWH EODXH XQG RFNHUIDUEHQH 0LQHUDOH DXV GHP 3ODQHWHQLQQHUQ ZXUGHQ KLHU QDFKGHP YRU -DKUWDXVHQGHQ GLUHNW EHU GHP 7XUP HLQH 7KHUPDOTXHOOH DXIJHEURFKHQ ZDU DEJHODJHUW 6LH YHUZDQGHOWHQ GHQ 7XUP LQ HLQ UDQNHQYHU]LHUWHV VWHLQHUQHV 0lUFKHQVFKOR DXV WDXVHQG )DUEHQ 'HU .LHV NQLUVFKWH XQWHU GHQ KRFKJHVFKQUWHQ 6DQGDOHQGHUEHLGHQ0lQQHU7 DEDQ]XSIWHDQVHLQHP%DUWXQGVDJWH ª'HU 6WDPP GHU 1D\VDW JHK|UW ]X PHLQHU /HJHQGH ,FK KDEH KLHU WDJHODQJ JHOHEW XQG HLQLJH )UHXQGHJHZRQQHQ,QJH\QJHK|UW]XLKQHQ© ª,FKYHUVWHKH© 'HU JDOD[LVZHLW VWHFNEULHIOLFK JHVXFKWH 9HUEUHFKHU 3URIHVVRU ,VHND .DPLWDUD KDWWH VHLQH +HUUVFKDIWDOV.5$7$EHHQGHW6HLQ7RGZDUQDFKHOIMlKULJHU$QZHVHQKHLWDXI.KD]DHLQH)ROJH GHU $XVHLQDQGHUVHW]XQJ XP GHQ %HVLW] GHV =HOODNWLYDWRUV JHZHVHQ .5$7$ ZUGH DOV %HJULII HUKDOWHQEOHLEHQ²DEHUQLFKWPHKUOlQJHUZUGHHLQ9HUEUHFKHUGHQ1DPHQHLQHVJHKHLPQLVYROOHQ .UDWHUVDXVQXW]HQN|QQHQ%HYRUGDVOHW]WH6FKLIIGHU862VWDUWHWHPLWHLQLJHQYHUKDIWHWHQ+HOIHUQ XQGGHQDXI.KD]DHLQJHVHW]WHQ6SH]LDOLVWHQDQ%RUGKDWWH7 DEDQQRFKHLQHQ$EVFKLHGVEHVXFK]X PDFKHQ XQG VHLQ &KHI EHJOHLWHWH LKQ 6LH OLHHQ GHQ 3D KLQWHU VLFK XQG PHUNWHQ GD GLH 6RQQH VWLHJ LKUH 5FNHQ ZlUPWH XQG GDV JHVDPWH 7DO PLW KHOOHP /LFKW XQG :lUPH EHUVFKWWHWH 2VWZLQG WULHELKQHQ GLH6lXPH GHU 0lQWHOJHJHQGLH :DGHQDOVVLH QDFKHLQLJHQ KXQGHUW 0HWHUQ DEHUPDOVVWHKHQEOLHEHQ ª'DV(UVWDXQOLFKHLVWQLFKWVRVHKUGLHVHV7DO©VDJWHGHU:HLKDDULJHGHU]XP7HLOGLH.OHLGXQJ GHU1RUGOlQGHUWUXJªVRQGHUQGHU8PVWDQGGDKLHUVHLW8U]HLWHQ0HQVFKHQOHEHQ© 7HQWKUHGREUHLWHWHGLH$UPHDXVXQGVDJWH ª(VLVWDOOHVKLHUZDVPDQ]XP/HEHQXQG]XU%HTXHPOLFKNHLWEUDXFKW :lOGHUYROOHU7LHUHXQG )UFKWH :HLGHQ KHLHV :DVVHU ]XP %DGHQ XQG .RFKHQ 7KHUPDOTXHOOHQ JHJHQ *OLHGHUUHLHQ %HUJH 6ZDVVHU XQG DP DQGHUHQ (QGH HLQ VFKPDOHU )MRUG ]XP 0HHU 8QG JHQJHQG %DXPDWHULDOXPVHOEVWGDV+DXVGHV6WDPPHVMHGHV-DKU]XHUZHLWHUQ© ª6LHKDEHQUHFKW7HNHQHU©VDJWH$WODQ ª,FKZHL(VZlUHEULJHQVEHVVHUZHQQ6LHPLFKEHLGHQ1D\VDWZLHGHU7 DEDQQHQQHQZUGHQ (VHUOHLFKWHUWGDV,QNRJQLWR© ª6HOEVWYHUVWlQGOLFK© =ZHL 3LORWHQ DXI VFKQHOOHQ ZHQGLJHQ =RRQ NDPHQ DXI VLH ]X $Q ODQJHQ 6HLOHQ ]RJHQ VLH ]ZHL =RRQKLQWHUVLFKKHUGHUHQKRFKERUGLJH6lWWHOOHHUZDUHQ(LQHUGHU3LORWHQKREGLH+DQGVWLHLLLQ HLQ +|UQ XQG ZLQNWH DOV 7 DEDQ VHLQHQ 0DQWHO YRQ GHQ 6FKXOOHUQ QDKP XQG LKQ GXUFK GLH /XIW VFKZHQNWH'LHYLHU5HLWY|JHOKLHOWHQGHQ.XUVXQGQlKHUWHQVLFK²LQHLQHU9LHUWHOVWXQGHZUGHQ VLHKLHUODQGHQ$WODQVDJWHIDVWKHLWHU ª%HL.UDWHU© ª%HL.5$7$KHLWHV©NRUULJLHUWHLKQ7HNHQHUª2GHU EHLP.UDWHU© ª%HLP .UDWHU ,FK IUHXH PLFK GLUHNW DXI GHQ )OXJ ² LFK KDEH QRFK QLHPDOV LP 6DWWHO HLQHV VR JURHQ9RJHOVJHVHVVHQ6LHHUNOlUHQPLUGLH=JHOIKUXQJ"© 7 DEDQPDFKWHHLQHOlVVLJH+DQGEHZHJXQJ $OVHU]XPHUVWHQPDODXI.KD]DJHODQGHWZDUEUDXFKWHHUPLWVDPWVHLQHP)UHXQGHLQH/HJHQGH HLQH 0HQJH VWLFKKDOWLJHU %HZHLVH XQG $UJXPHQWH IU VHLQH ([LVWHQ] GLH QXU YRUEHUJHKHQG ZDU (UKDWWHPHKUPDOV]ZLVFKHQGHQHLQ]HOQHQ3KDVHQGHV(LQVDW]HVGLHVH6LHGOXQJEHVXFKWXQGKDWWH LP WUHSSHQI|UPLJHQ +DXV GHV 6WDPPHV ]ZHL 5lXPH JHPLHWHW ,QQHUKDOE NU]HVWHU =HLW ZDU HU )UHXQGYLHOHU0lQQHUXQGHLQLJHU)UDXHQJHZRUGHQXQWHUDQGHUHPYRQ,QJH\QGHUHQ'LHQHULQQHQ GLHVHV +DXV EHVRUJWHQ ,QJH\Q ZDU HLQH 1LJKPDQLQ GLH YRQ $EHQWHXHUVXFKW JHWULHEHQ KLHU LQ GLHVHP 7DO JHODQGHW ZDU 6LH JDOW DOV GDV VFK|QVWH XQG ]XJOHLFK NKOVWH 0lGFKHQ LQ ZHLWHP 8PNUHLV
ª,FKHUNOlUHDOOHV$WODQSW $UFRQ©VDJWHHUOHLVH 'DV 7DO XQJOHLFK JHIRUPW GXUFKPD HWZD GUHLLJ .LORPHWHU (LQ 5LQJ DXV ]XP 7HLO YHUJOHWVFKHUWHQ%HUJULHVHQDXVHUORVFKHQHQJURHQXQGWlWLJHQNOHLQHQ9XONDQHQDXVKRKHQGLFKW EHZDFKVHQHQ+JHOQXPJDEGLHOHLFKWJHZHOOWH)OlFKHGHV7DOJUXQGHV(LQLJH)HOVDEVWU]HZXUGHQ YRQ %DVDOWWUHSSHQ JHELOGHW DQGHUH ZLHGHU YRQ .DVNDGHQ KHLHQ :DVVHUV GLH DXV GHP 3ODQHWHQLQQHUQDXIVWLHJHQXQGVLFKVHOEVWHLQH/DQGVFKDIWDXVIDUELJHQ0LQHUDOLHQJHELOGHWKDWWHQ $QPLQGHVWHQVGUHLLJ6WHOOHQIDXFKWHQSHULRGLVFKH*HLVHULQGLH/XIWXQGUHLFKHUWHQVLHPLW'DPSI DQ 'LH =RQHQ GHU WURSLVFKHQ :lOGHU XQWHUEUDFKHQ PLW LKUHP *UQ GLH 6DQGIOlFKHQ GLH DEHURGLHUWHQ9XONDQVFKORWHXQGGLHJURH&DOGHUDQDKHGHV7DOUDQGHV'DVJHVDPWH7DOGHU1D\VDW ZDUHLQHJHZDOWLJHODXWORVH)DUEHQVLQIRQLH-HW]WGDGLHOHW]WHQ1HEHOYRP6RQQHQOLFKWDXIJHO|VW ZXUGHQ VFKLHQ VLFK GLHVHU (LQGUXFN ODQJVDP ]X YHUZDQGHOQ DOV KDEH PDQ DOOHV LQ HLQH JUDXH )DUEHJHWDXFKW:RONHQVFKDWWHQ]RJHQEHUGDV/DQG7 DEDQNQLIIGLH$XJHQ]XVDPPHQ(UKDWWH GLH GHXWFKV $KQXQJ HLQHU *HIDKU HLQHU QHJDWLYHQ 6WLPPXQJ GRUW LP 7DO ]ZLVFKHQ GHQ $NRQHQDEN|PPOLQJHQ $WODQSW $UFRQIUDJWHKDOEODXW ª:DVLVWORV7 DEDQ",KU*HVLFKWVLHKWDXVDOVKlWWHQ6LHHUQVWKDIWH3UREOHPH"© ª6RLVWHV,UJHQGHWZDVEUDXWVLFKGRUWXQWHQ]XVDPPHQ,FKKlWWHHVVFKRQK|UHQPVVHQ²GDV +|UQHVNODQJVRPHUNZUGLJ© $WODQVFKWWHOWHGHQ.RSI(UEHJULIIYLHOHVDEHUGLHVH.XOWXUKDWWHHUQLFKWVHOEVWHUOHEW'DUXP VWDQGHUGHQYHUVFKLHGHQHQ$VSHNWHQUHODWLYDEZDUWHQGXQGLQGLIIHUHQWJHJHQEHU(UEOLHEDXIHLQH +DQGEHZHJXQJ7 DEDQVKLQVWHKHQXQGIUDJWH ª:LHJHKWHVMHW]WZHLWHU"© 7HQWKUHGR JULQVWH NDOW XQG HUNOlUWH LQ VFKQHOOHP DEJHKDFNWHQ 7RQIDOO 'LH EHLGHQ =RRQ3LORWHQ NDPHQQlKHUXQGGURVVHOWHQGLH*HVFKZLQGLJNHLWGHUVFKQHOOHQ9|JHO ª:LU VLQG JHVHKHQ ZRUGHQ GHU 3D ZLUG EHZDFKW (LQ VFKQHOOHV 1DFKULFKWHQV\VWHP PLW )DUEIOlFKHQ KDW JHVSLHOW XQG ZLU ZHUGHQ DEJHKROW 'X PXW ZLVVHQ SW $UFRQ GD LFK KLHU HLQ JHUQJHVHKHQHU*DVWELQ© $WODQV([WUDVLQQPHOGHWHVLFKXQGVDJWH :LHGHUHLQPDOEHILQGHVWGXGLFKLQHLQHUH[RWLVFKHQIUHPGHQ:DOW'XZLUVWYLHOH3DUDOOHOHQGHU (ULQQHUXQJIHVWVWHOOHQ9HUVXFKHGLFKDXVGHP6WUXGHOGHV=ZDQJHVKHUDXV]XKDOWHQ ª,FKZHUGHHVPLUPHUNHQ%DUEDU©YHUVLFKHUWH$WODQ 6LHZROOWHQ]ZHL7DJHEOHLEHQXQGVLFKYRQGHQ6WUDSD]HQHUKROHQGLHGHU(LQVDW]JHIRUGHUWKDWWH :lKUHQG ULHVLJHZHLH:RONHQ EHU HLQHQ+LPPHO YRQWLHIHP %ODX ]RJHQZlKUHQG GLH6FKDWWHQ EHU GDV /DQG UDVWHQ NDPHQ GLH YLHU =RRQ KHUDQ 6LH VFKULHQ OHLVH DXI DOV LKUH +lOVH PLW GHQ JURlXJLJHQ $QWLORSHQN|SIHQ KRFKJHULVVHQ ZXUGHQ 'DQQ VFKOXJHQ VLH KHIWLJ PLW GHQ )OJHOQ VSUHL]WHQGLHIlFKHULJHQ6FKZlQ]HDXVXQGODQGHWHQDXIGHPEUHLWHQ:HJGHUDP5DQGGHU)HOVHQ HQWODQJ IKUWH 'LH 3LORWHQ KREHQ JUHQG GLH +lQGH ZLH 7 DEDQ VFKZDU]KlXWLJ XQG PLW ZLOGHQ %DUWHQ (LQHU YRQ LKQHQ VSUDQJ DXV GHP 6DWWHO XQG ZDUI GLH =JHO GHP DQGHUHQ 0DQQ ]X (U QlKHUWHVLFKVWHLIEHLQLJ$WODQXQG 7 DEDQVFKOXJPLWGHUEHKDQGVFKXKWHQ5HFKWHQJHJHQVHLQHQOHLFKWHQ5HLWSDQ]HUXQGULHI ª:LUJUHQGLFK*DUD]7 DEDQ7HQWKUHGR'XNRPPVWUHFKW]HLWLJ²KDVWGXPLWJHZLUNW6HLQD 6FXDOH]XIDQJHQ"© 7 DEDQPXVWHUWHLKQPLWHLQHPODQJHQEHUUDVFKWHQ%OLFN'DQQHUZLGHUWHHUYRUVLFKWLJ ª0DJ VHLQ 'DQFXQ PDJ VHLQ 'LHV PHLQ ZHLKlXWLJHU )UHXQG LVW 'DQFXQ GHQ VLH GHQ !9HWWHU GHU6FKZLQJHQ QHQQHQHLQHUXQVHUHUEHVWHQ3LORWHQ8QGGLHVLVW$WODQSW $UFRQPHLQ)UHXQG(U ZLUGPLUKHOIHQGHQ$EVFKLHG]XHLQHPKHLWHUHQ)HVW]XPDFKHQ© ª:RKOJHUHGHW*DUD]©ULHI'DQFXQ 6LHVFKWWHOWHQVLFKGLH+lQGHZREHLVLHVLFKDQGHQ8QWHUDUPJHOHQNHQIDWHQXQGVLHPLWIHVWHP *ULIIXPVSDQQWHQ$WODQVDKJHQDXKLQEHJULIIXQGEHJUWHVHLQHUVHLWVGHQ0DQQYRP6WDPPGHU 1D\VDW 'DQFXQ ZLHVDXI GLH EHLGHQ 9|JHO GLH PLW LKUHUEUHLWHQ KRUQLJHQ=XQJH VLFKGLH0LOEHQ DXVGHP*HILHGHUOHFNWHQXQGVDJWHUDXK
ª+HXWH QDFKW ZHUGHQ ZLU 6HLQD KLQULFKWHQ (V LVW EHVFKORVVHQ ZRUGHQ 9LHOH VFKZDU]H 6WHLQH ZDUHQLQGHU8UQH© 7 DEDQXQG$WODQQLFNWHQ'HVKDOEDOVRGLH8QUXKHGLH1HUYRVLWlW$WODQVDK]XZLH7 DEDQVLFK LQGHQ6DWWHOVFKZDQJXQGGHQ0DQWHOYHUNQRWHWHGDQQPDFKWHHUHVLKPQDFK0LWHLQLJHQ6lW]HQ HUNOlUWH7 DEDQGLH+DQGKDEXQJGHU=JHOXQGVFKOR ª%HL GHU /DQGXQJ QXU HLQ 6LJQDO JHEHQ 'LH 9|JHO ZLVVHQ YRQ VHOEVW ZLH VLH ]X ODQGHQ KDEHQ :LUIOLHJHQ]XP+DXVGHV6WDPPHV'DQFXQ=XPHLQHQ5lXPHQ© ª9DWHU GHV 6FKZHUWHV© VFKULHQ EHLGH 0lQQHU LQ GHQ /lUP GHU VFKODJHQGHQ 6FKZLQJHQ KLQHLQ ªGRUWKLQ ZROOHQ ZLU :LU IUHXHQ XQV DOOH ZHLO GX KHXWH GHQ .XOW EHJLQQHQ ZLUVW ² GX ELVW DXVHUVHKHQZRUGHQ8QGDXFK,QJH\QIUHXWVLFK6LHZDUWHWDXIGLFK© 7 DEDQQLFNWHQXUXQGODFKWHEUHLW 'DQQ EHJDQQHQ GLH DFKW 6FKZLQJHQ VWlUNHU XQG VFKQHOOHU ]X VFKODJHQ 'LH =JHO ZXUGHQ IUHLJHJHEHQ GLH 7LHUH VWREHQ ]ZDQ]LJ 0HWHU ZHLW KLQWHUHLQDQGHU GHQ DEVFKVVLJHQ :HJ KLQXQWHU XQG ZDUIHQ VLFK LQ GHQ $EJUXQG 1DFK HLQLJHQ 0HWHUQ 6WXU]IOXJ KDWWHQ VLH VLFK JHIDQJHQ GLH =JHOKLOIHQ EHJDQQHQ ]X ZLUNHQ XQG GLH 7LHUH HUK|KWHQ LKU 7HPSR 0LW UXQG KXQGHUWIQI]LJ 6WXQGHQNLORPHWHUQ*HVFKZLQGLJNHLWUDVWHQVLHEHUGLH%DXPZLSIHOGDKLQEHUHLQHQPlDQGHUQGHQ )OXODXI EHU ODQJH .LHVLQVHOQ XQG HLQHQ 6HH 'DQQ VDKHQ 7 DEDQ XQG SW $UFRQ HLQH GHU NOHLQHQ 6LHGOXQJHQ DXV YLHOIDUELJHQ 6WHLQHQ HUEDXW LQPLWWHQ YRQ )HOGHUQ XQG *lUWHQ 8QG EHUDOO EHIDQGHQ VLFK GLH NXQVWYROO DQJHOHJWHQ %DGHEHFNHQ GHUHQ &DOSRGDW 6W\ORQ*HUXFK ELV LQ GLH 1DVHQGHUYLHUGDKLQUDVHQGHQ3LORWHQVWDFK$WODQIUDJWHVLFKLQZHOFKHLQHU$UW$EHQWHXHUHUVLFK ZLHGHUHLQJHODVVHQKDWWHDOVHUWHLOVDXVSXUHU1HXJLHUGHWHLOVDXVVFKLHUHP:LVVHQVGXUVW7 DEDQV (LQODGXQJ DQJHQRPPHQ KDWWH $NWLYDWRUWUlJHU XQWHU VLFK GDFKWH HU 7HNHQHUV /HEHQ ZLUG VLFK GUDVWLVFK YHUlQGHUQ XQG HU ZLUG GLH %LWWHUQLV XQG GLH YLHOHQ NOHLQHQ OHW]WHQ (QGHV VLQQORVHQ 7ULXPSKHHUOHEHQGLHLFKVRJXWNHQQH8QG XQGSO|W]OLFKEHJDQQHUVLFK]XIUFKWHQ (U DKQWH GD VLH GLH ]X HUZDUWHQGH =HUHPRQLH YRQ GHUHQ $UW HU NHLQHUOHL$KQXQJ KDWWH LQ LKP (ULQQHUXQJHQ DXVO|VHQ ZUGH DQ GLH ZLOGHQ ELWWHUHQ -DKUH DXI GHU (UGH :LHGHU PWH HU GDQQ HLQHQ 7HLO VHLQHU *HGDQNHQ SUHLVJHEHQ XQG VFKLOGHUQ ZDV HU HUOHEW KDWWH XQG PLW ZHOFKHU (QWWlXVFKXQJHUZLHGHULQVHLQVXEPDULQHV6WDKOJHIlQJQLV]XUFNJHNHKUWZDU ª+RRRRK© VFKULH HLQHU GHU 3LORWHQ $WODQ NRQQWH QLFKW IHVWVWHOOHQ ZHU HV JHZHVHQ ZDU (U VFKUHFNWHDXVVHLQHQ*HGDQNHQDXI1RFKLVWHV=HLWVLFKDE]XNDSVHOQXQGGLH(ULQQHUXQJVVW|H]X YHUPHLGHQVFKULHZDUQHQGGHU([WUDVLQQ 'LH JU|WH $QVLHGOXQJ GHV 1D\VDWWDOHV GHKQWH VLFK YRU LKQHQ DPSKLWKHDWUDOLVFK DXV 6LH ZDU LQ HLQHQ %HUJKDQJ JHEDXW GHU HLQHP6SLW]NHJHO JOLFKGHQ PDQ JHGULWWHLOW XQG DXI GHQ .RSI JHVWHOOW KDWWH=ZLVFKHQGHQHLQ]HOQHQ+lXVHUQGXUFK7UHSSHQXQG6WXIHQGXUFKhEHUJlQJHXQG]LHUOLFKH %UFNHQ PLWHLQDQGHU YHUEXQGHQ ZXFKV UHLFKOLFK *UQ (LQ $TXlGXNW IKUWH LQ ]ZHL JHWUHQQWHQ 7RQU|KUHQZDUPHVXQGNDOWHV:DVVHUKHUDQ'DVWUHSSHQDUWLJDQJHOHJWH*HElXGHDPREHUVWHQ5DQG GHU $QODJH ZDU GDV +DXV GHV 6WDPPHV 9HUVDPPOXQJVUDXP 6FKHQNH *DVWKDWLV .RPPXQLNDWLRQVRUW XQG ]XJOHLFK K|FKVWJHOHJHQHU 5DXP GHU 6LHGOXQJ 9LHOH IDUELJH :UIHO WUPWHQ VLFK EHUHLQDQGHU ,KUH )HQVWHU|IIQXQJHQ VDKHQ QDFK 2VWHQ XQG :HVWHQ GLH 7HUUDVVHQ ZLHVHQQDFK6GHQ (LQH SUlFKWLJH $QODJH GDFKWH GHU $UNRQLGH =ZLVFKHQ GHQ HLQ]HOQHQ :UIHOQ EHZHJWHQ VLFK HQWIHUQWSDOPHQDUWLJH'DNW\OLIHUHQ HLQYDJHU(LQGUXFNHLQHUWHUUDQLVFKHQ6GVHHLQVHOHQWVWDQGXQG EOLW]WHNXU]LQ$WODQV+LUQ 7 DEDQ7HQWKUHGRVFKULHJHJHQGHQ)OXJZLQGDQ ª:LUODQGHQDXIGHUREHUVWHQ3ODWWIRUP²QHEHQHLQDQGHU© ª9HUVWDQGHQ 1HIIH GHU (UNHQQWQLV© VFKULH $WODQ ]XUFN 3O|W]OLFK GXUFKGUDQJ HLQH LQQHUH +HLWHUNHLW GLH GVWHUHQ 9RUDKQXQJHQ DOV RE GLH 6FKDWWHQ GHU :RONHQ YHUVFKZXQGHQ ZlUHQ 'LH YLHU 9|JHO ODQGHWHQ PLW PlFKWLJHP %UDXVHQ GHU 6FKZLQJHQ GLH 6lWWHO ZXUGHQ JHORFNHUW GDQQ NDPHQ HLQLJH VFKZHLJVDPH 0lQQHU XQG IKUWHQ GLH =RRQ KLQZHJ $WODQ 7 DEDQ 'DQFXQ XQGGHU YLHUWH 0DQQ EOLHEHQ LQ HLQHU *UXSSH VWHKHQ 7 DEDQ VDJWH ODQJVDP XQG LQ IUHXQGVFKDIWOLFKHP
7RQIDOO ª'DQFXQ ² ZLU ZHUGHQ ,QJH\Q EHJUHQ HLQHQ 7UXQN ]X XQV QHKPHQ GDQQ XQVHUH 5lXPH EH]LHKHQ:LUHUZDUWHQGHQ%RWHQZHQQGLH+LQULFKWXQJVWDWWILQGHQVROO²UHFKW]HLWLJYRUKHU,FK GHQNHHVZLUGQDFKGHP8QWHUJHKHQYRQ&DU\EGHD$FURSLVVHLQ"© 'DQFXQPXUPHOWHZlKUHQGHUVLFKGLH+DQGJHJHQGLH%UXVWVFKPHWWHUWH ª0HLVWHU *DUD] DOOHV ZLUG VR JHVFKHKHQ ZLH GX HV YRUJHVFKODJHQ KDVW *HKH ]X ,QJH\Q VLH ZDUWHWPHKUDOVZLU:LUKROHQHXFKUHFKW]HLWLJ'XZLUVWZLVVHQZDV]XWXQLVW© 7 DEDQYHUEHXJWHVLFKXQGJULQVWHNDOW ª,FK ZHL HV© VDJWH HU EHUKUWH $WODQ DP 8QWHUDUP XQG EHWUDW GLH 6WHLQWUHSSH GLH YRQ GHU /DQGHSODWWIRUPQDFKXQWHQIKUWH6LHNDPHQDQYHUVFKLHGHQHQ7HUUDVVHQXQGNOHLQHQ+DQJJlUWHQ YRUEHL LQ GHQHQ NOHLQH XQG JURH 3IODQ]HQ ZXFKVHQ XQG GDPSIHQGH %lGHU ]X VHKHQ ZDUHQ 6FKOLHOLFKEHWUDWHQVLHHLQHQ5DXPGHUYRQJHOEHPIDVWRUDQJHIDUEHQHP/LFKWHUIOOWZDU'QQH :HEVWRIIHYRUGHQ)HQVWHU|IIQXQJHQILOWHUWHQGDV/LFKW7 DEDQVDKVLFKXP|IIQHWHHLQHZHLH7U XQGZLQNWHGHP$UNRQLGHQ ª+LHUELQLFK%OWHGHVVSlWHQ$EHQGV©ULHI7HQWKUHGRª,FKKDEHJHZDUWHWLQGHLQHXQHQGOLFKHQ $XJHQ]XVHKHQ© 9RUHLQHP)HQVWHUVFKQDSSWHGHU6WRIILQGLH+|KHXQGULQJHOWHVLFK]XVDPPHQ$WODQOHKQWHVLFK DEZDUWHQGDQGLH:"DQGXQGVFKZLHJ7 DEDQVWDQGLQGHU0LWWHGHV5DXPHVXQGEUHLWHWHGLH$UPH DXV 2KQH ]X EDGHQ" GXUFKIXKU HLQ *HGDQNH GHQ $UNRQLGHQ (U VDK ZLH VLFK DXV HLQHP KRFKOHKQLJHQ6WXKOQHEHQGHP)HQVWHUHLQHJURHVFKODQNH*HVWDOWO|VWH HLQ0lGFKHQQLFKWYLHO lOWHUDOVVLHEHQXQG]ZDQ]LJSODQHWDUH-DKUH0LQGHVWHQVHLQKXQGHUWDFKWXQGVLHE]LJ=HQWLPHWHUJUR VFKODQN IDVW JUD]LO PLW GXQNHOEORQGHP +DDU XQG KHOOVDPWEUDXQHU +DXW $WODQ JODXEWH HLQHQ UHJLVWULHUHQGHQ SUIHQGHQ %OLFN DXV JUDXHQ $XJHQ HPSIDQJHQ ]X KDEHQ 7 DEDQ VDJWH OHLVH XQG XQJHZRKQWZHLFK ª(GHOVWHU 7UDXPYRJHO PHLQHU 1lFKWH 0HLQ )UHXQG XQG LFK VLQG JHNRPPHQ XP HLQHQ ODQJHQ $EVFKLHG]XQHKPHQ*HKHQZLULQGLH%lGHU"© ª,FKKDEHHXFKJHVHKHQ©VDJWH,QJH\QXPDUPWH7HQWKUHGRVFKPLHJWHVLFKGLFKWDQLKQXQGOHJWH GDQQ$WODQGLH+DQGDXIGHQ8QWHUDUPª:HLQLVWEHUHLW'DV:DVVHULVWZDUPXQGZRKOULHFKHQG© 'LH 5LQGHQH[WUDNWH GHV *DVFKND\EDXPHV ZLUNWHQ LQ EHVWLPPWHU 9HUGQQXQJ GHVLQIL]LHUHQG XQG ]XJOHLFKEHWlXEHQGZRKOULHFKHQG7HNHQHUXQG$WODQ]RJHQVLFKLQJHWUHQQWHQNOHLQHQ5lXPHQDXV JOLWWHQ GXUFK HLQH $UW 6FKOHXVH LQ HLQ %HFNHQ YROO ZDUPHQ :DVVHUV XQG WUDIHQ GRUW DXI GDV 0lGFKHQ/DQJVDPO|VWHVLFKGLH9HUNUDPSIXQJGHUVFKQHOOHQ5HLVH GLH*HGDQNHQDQGLHKHXWLJH 1DFKWYHUEODWHQ$WODQZDUEHU]HXJWHWZDV(LQPDOLJHVPLWHUOHEHQ]XN|QQHQ $XFKGHU$GDWK.XOWDXIGHU,QVHOGDPDOVZDUIUGLFKHWZDV(LQPDOLJHVULHIGHU([WUDVLQQ'X KDVWXPHLQ+DDUGHLQ/HEHQHLQJHEW'HQNHDQGHLQHQ=HOODNWLYDWRU $WODQ OHKQWH VLFK ]XUFN DQ GHQ %HFNHQUDQG ODXVFKWH PLW KDOEHP 2KU DXI GLH 8QWHUKDOWXQJ ]ZLVFKHQ GHP 0lGFKHQ ,QJH\Q XQG 7 DEDQ XQG JULII QDFK GHP 3RNDO 'HU :HLQ ZDU VFKZHU URW XQGKHUE HUVWDFKHOWHGLH6LQQHDQ :HQQ GXQLFKW IOFKWHVW ZLUGGLFKGHU $EHQG ]ZLQJHQGHLQH(ULQQHUXQJHQSUHLV]XJHEHQVFKULH ZDUQHQGGDV([WUDKLUQ $WODQVFKORGLH$XJHQ 6LHEDGHWHQDXVJLHELJKOOWHQVLFKLQULHVLJHIODXVFKLJH0lQWHOXQGQDKPHQGDQQLQGHQOLHEHYROO YRUEHUHLWHWHQ5lXPHQHLQ(VVHQHLQ'DQQVFKOLHIHQVLHHLQLJH6WXQGHQXQG$WODQKDWWHGDV*HIKO GD VLFK GLH EDUEDULVFKHQ )UHXQGH 7 DEDQV PLW GHVVHQ (UNOlUXQJ HU $WODQ VHL HLQ IUHPGHU :DQGHUHUXQGHLQ)UHXQGGHV*DUD]]XIULHGHQJHJHEHQKDWWHQ (LQH GURKHQGH XQKHLOYROOH 5XKH ODJ EHU GHP 2UW DOV GHU %RWH 7HQWKUHGR DEKROWH 7HQWKUHGR KDWWHVLFKLQ]ZLVFKHQLQVHLQHEDUEDULVFKH6WDKOUVWXQJJHNOHLGHWKDWWHGHQ*ULIIGHU VFKZHUHQ6FKOHXGHUHLQJHVWHFNWXQGGLH.OHWWHQJHVFKRVVHDXFKGHU$UNRQLGHVHW]WHVLFKHLQHQ GHU PLWJHEUDFKWHQ +HOPH DXI KOOWH VLFK LQ GLH 5VWXQJ GHU 1RUGPlQQHU XQG IROJWH GHP VFKZHLJHQGHQ%RWHQHLQHVFKLHUHQGORVH7UHSSHKLQXQWHU=ZLVFKHQGHQ=ZHLJHQGHU3DOPDUWLJHQ WDXFKWHQ YLHOH 6FKDOHQ DXI GHUHQ 2EHUIOlFKH EUDQQWH (LQ *HUXFK QDFK KDU]LJHP gO KLQJ LQ GHU
/XIW 8QG DOV VLFK GLH $XJHQ DQ GLH +HOOLJNHLW JHZ|KQW KDWWHQ VDK GHU $UNRQLGH HLQHQ .UHLV DXV VFKZHLJHQGHQ0lQQHUQ6LHVWDUUWHQ7 DEDQXQGLKQDQDOVZlUHQHVJHIHVVHOWH7RGIHLQGH ª:LUVHW]HQXQVGRUWKLQ©VDJWH7 DEDQNQDSS6HLQ*HVLFKWWUXJHLQHQNRQ]HQWULHUWHQQDFKLQQHQ JHNHKUWHQ$XVGUXFN7URPPHOQEHJDQQHQ]XVFKODJHQ(LQODQJJH]RJHQHV6W|KQHQJLQJGXUFKGLH 0HQJHGHUZDUWHQGHQ0lQQHU(VZDUHQQXU0lQQHUKLHU 7 DEDQVFKULHDXIVSULQJHQG ª0lQQHU YRQ 1D\VDW .lPSIHU %UGHU GHV 6FKZHUWHV $QJHK|ULJH GHU IXUFKWEDUHQ .OHWWHQVFKOHXGHU:LUWUDIHQXQVXPGHQ6FKXOGLJHQ]XVWUDIHQXPGHQ9HUUlWHU]XUlFKHQXPGLH (KUHGHV6WDPPHVKHU]XVWHOOHQ%HJLQQWPLWGHU.XOW]HUHPRQLH© (LQHQ$XJHQEOLFNODQJ]LWWHUWHGHU1DFKKDOOVHLQHV6FKUHLHVGXUFKGLH)HOVHQ (V LVW LPPHU GDVVHOEH 'X NDQQVW GLFK EDOG QLFKW PHKU ZHKUHQ VFKULH GHU /RJLNVHNWRU LP 9HUVWDQGGHVDOWHQ$UNRQLGHQ'HQNHDQGHQ3RUWXJLHVHQ$XFKHUVWDUEDXIHLQHUGHU,QVHOQ 'LH0XVLNZXUGHODXWHU 'LH 7URPPHOVFKOlJH XQG GDV WURFNHQH K|O]HUQH .OLFNHQ GHU JHJHQHLQDQGHUJHVFKODJHQHQ $VWDEVFKQLWWH JLQJHQ LQ HLQHQ SDUDO\VLHUHQGHQ ]XJOHLFK DXIUHJHQGHQ 5K\WKPXV EHU 1HXH ,QVWUXPHQWHILHOHQHLQ$XVGHP6FKDWWHQUXQGXPGHQ.UHLVGHU)HXHUVFKDOHQWUDWHQHLQLJH0lQQHU KHUDXV6LHDOOHWUXJHQVFKZDU]H6WXOSHQKDQGVFKXKHXQG6FKOHXGHUQ7 DEDQ7HQWKUHGRVSUDQJDXI XQGVFKULH ª'HU3IDKO%ULQJWLKQGHQ)UHXQGGHU5DFKH© 9HUVWRKOHQ VDK $WODQ DXI GLH ZLQ]LJH 8KU GLH HU LQ HLQHP 5LQJ WUXJ 1HXQ 8KU DEHQGV 6WDQGDUG]HLW 'HU.UHLV|IIQHWHVLFKDQHLQHUDQGHUHQ6WHOOH0HKUHUH0lQQHUEUDFKWHQHLQHQ3IDKOKHUEHLGHU DXV JHVFKlOWHP ZHLHP +RO] EHVWDQG 6LH WUXJHQ LKQ IDVW IHLHUOLFK LQ GLH 0LWWH GHV 3ODW]HV XQG YHUVHQNWHQLKQLQHLQ/RFKGDVLQGHQYXONDQLVFKHQ7XIIGHV%RGHQVJHERKUWZDU ª+ROWGHQ*HJHQVWDQGXQVHUHV=RUQHV%ULQJWLKQ©VFKULH7 DEDQ =XUFN'LH(ULQQHUXQJKROWGLFKHLQ/DXIHZHJ'XZLUVWZLHGHUEHVLQQXQJVORVUHGHQZHQQGX ZHLWHU]XVLHKVWWREWHGHU/RJLNVHNWRU 'HU.UHLV|IIQHWHVLFKQDFK]ZHL6HLWHQZlKUHQGGLH0XVLNLQHLQRKUHQEHWlXEHQGHV.UHVFHQGR EHUJLQJ(LQXQGHXWOLFKHV0XUPHOQVWLHJDXIDOVZUGHGLH0HQJHDXVHWZDIQIKXQGHUWElUWLJHQ ]XPHLVW VFKZDU]HQ %DUEDUHQ HLQH /LWDQHL PLW WHXIOLVFKHP 7H[W EHWHQ 0HKUHUH 0lQQHU ULHVLJH JULPPLJH.ULHJHUVFKOHSSWHQHLQHQ0DQQKHUEHL«QHLQHLQH3XSSHNRUULJLHUWHVLFK$WODQDOVHU JHQDXHU KLQVHKHQ NRQQWH :lKUHQG 7HQWKUHGR GLH JHZXQGHQHQ 6WXIHQ ELV DXI GLH 3ODWWIRUP HLQHU 6lXOH DXV 9XONDQJHVWHLQ KLQDXIJLQJ EDQGHQ GLH .ULHJHU GLH *HVWDOW DQ GHQ 3IDKO 1DFK XQG QDFK YHUULQJHUWHQVLFKVlPWOLFKH*HUlXVFKH6FKOLHOLFKQDFKHLQHUKDOEHQ6WXQGHHWZDSRFKWHQXUQRFK HLQHNOHLQH+DQGWURPPHOLQHLQHPUDVHQGHQ:LUEHO7HQWKUHGRVWDQGDXIGHU6lXOHXQGHLQH0HQJH XQGHXWOLFKVLFKWEDUHU%HZHJXQJHQJLQJGXUFKGLH0HQJH -HPDQGVFKULH ª7|WHLKQ7|WHW6HLQD6FXDOHGHQ0DQQGHUPLWGHQ9HUEUHFKHUQPLWJHDUEHLWHWKDW© 'X1DUU-HW]WNDQQGLFKQLFKWVPHKUUHWWHQVFKULHGHU([WUDVLQQ $XFKGLH+DQGWURPPHOVFKZLHJMHW]W (LQH OlKPHQGH 6WLOOH EUHLWHWH VLFK DXV 7 DEDQ 7HQWKUHGR QXU XQGHXWOLFK DXI GHU 6lXOH VLFKWEDU OHJWHPLWVSLW]HQ)LQJHUQHLQH.OHWWHQNXJHOLQGDV3ROVWHUGHU6FKOHXGHUHLQ]LHOWHXQGVFKR,QGHU JOHLFKHQ6HNXQGHVFKZLUUWHQULQJVXPGHQ$UNRQLGHQPLQGHVWHQVKXQGHUWZHLWHUH6FKOHXGHUVHKQHQ 'LH 3XSSH DP 3IDKO HUEHEWH XQWHU GHQ (LQVFKOlJHQ XQG ZLUNWH IU HLQH 6HNXQGH HUVWDXQOLFK OHEHQVHFKW:LHGHUPLWOHW]WHU%HKHUUVFKXQJEOLFNWH$WODQDXIGLHNOHLQH8KU=HKQ8KUXQGGUHL 0LQXWHQ )DVW ODXWORV DOV KDEH VLFK GLH JHVDPWH 6SDQQXQJ VFKODJDUWLJ JHO|VW EHZHJWHQ VLFK VFKDWWHQKDIWH*HVWDOWHQGXUFK GDV QlFKWOLFKH 'XQNHO GDYRQ (UVWDXQW XQG KDOE EHVLQQXQJVORV VDK $WODQ ZLH DXV ]DKOORVHQ :XQGHQGHU3XSSH%OXWVLFNHUWHXQGVLFKDOVUXQGHU)OHFNDP)XGHV3IDKOHVVDPPHOWH'LHHUVWH )HXHUVFKDOHIODFNHUWHHLQOHW]WHVPDODXI]QJHOWHDEHUPDOVXQGHUORVFK'LH]ZHLWH$XIXQK|UEDUHQ 6RKOHQNDP7 DEDQYRQGHU6lXOHKHUXQWHUXQGVDJWHOHLVH
ª.RPPPLW$WODQSW $UFRQ'HU9HUUlWHULVWYHUXUWHLOWZRUGHQXQGJHVWRUEHQ²GHU.D\DOD.XOW KDWJHZLUNW© ,FK EHJUHLIH GDFKWH GHU $UNRQLGH 6R ZLH GDPDOV « DXI 7HUUD « LQ GHU 6GVHH LP W|GOLFKHQ 3DUDGLHV =XVSlW6LHK]XGDGXLQHLQHQ6HVVHONRPPVWVRQVWEULFKVWGX]XVDPPHQKHXOWHGHU([WUDVLQQ DXI $WODQVDJWH ª'XZLUVWPLFKKLQDXIVFKOHSSHQPVVHQPHLQH(ULQQHUXQJHQ© 7HQWKUHGR ]XFNWH ]XVDPPHQ HUJULII $WODQ EHL GHQ 6FKXOWHUQ XQG ]RJ LKQ LQ GDV /LFKW PHKUHUHU IODFNHUQGHU)HXHUVFKDOHQGLHHLQHQGXUFKGULQJHQGHQ*HUXFKYHUEUHLWHWHQ7 DEDQPXWHHUNHQQHQ GD HU HLQHQ 0DQQ DP (QGH VHLQHU .UlIWH YRU VLFK KDWWH OHLFKHQIDKOHV *HVLFKW ZHLW DXIJHULVVHQH $XJHQ 6FKZHL DXI GHU 6WLUQ XQG GHU 2EHUOLSSH )DVW ZLOOHQORV OLH VLFK $WODQ EHZHJHQ 7 DEDQ GDFKWH ,FKPXLKQLQXQVHUH5lXPHEULQJHQ²HLQWDXVHQG6WXIHQKRFK (U]RJLKQZRUWORVPLWVLFK(UKDWWHEHJULIIHQZRUXPHVJLQJ 1DFK GUHLKXQGHUW 6WXIHQ NQLFNWHQ $WODQV .QLH ]XP HUVWHQPDO ]XVDPPHQ 7 DEDQ ILQJ LKQ DXI ZDUI VLFK GHQ VFKZHUHQ .|USHU KDOE EHU GLH 6FKXOWHUQ XQG VWUPWH NHXFKHQG ZHLWHU (LQH KDOEH 6WXQGHVSlWHUODJ$WODQYRQVHLQHU5VWXQJEHIUHLW²GHQ+HLPKDWWHQVLHXQWHUZHJVYHUORUHQ² LQ HLQHP 6HVVHO DXI VFKZHUHQ )HLLHQ (U DWPHWH VFKZHU $XV VHLQHU .HKOH NDP HLQ VFKZDFKHV ODQJJH]RJHQHV 6W|KQHQ 'DV 0lGFKHQ NDP KHUHLQ EUDFKWH :HLQ XQG HLQLJH gOODPSHQ GLH VLH HQW]QGHWH 7HQWKUHGRVDJWHOHLVHRKQHVLFKXP]XGUHKHQ ª%OHLEHKLHUELWWH:LUZHUGHQYLHOOHLFKWGHLQH+LOIHEUDXFKHQ©(UEHVDQQVLFKXQGIJWHKLQ]X VFKPHLFKHOQGXQGHWZDVOHLVHU ª6FKZHVWHUGHU)ODPPH© $WLDQ|IIQHWHGLH$XJHQXQGPXUPHOWH ª(WZDV]XWULQNHQ'XUVWZLHGDPDOVDXIGHU:DVVHUZVWH© 7HNHQHU VHW]WH LKP GHQ 3RNDO DQ GLH /LSSHQ 'HU $UNRQLGH WUDQN GXUVWLJ XQG PLW JURHQ 6FKOXFNHQ 'DQQ DOV KDEH HU SO|W]OLFK QHXH .UDIW JHVFK|SIW ULFKWHWH HU VLFK KDOE DXI XQG VDJWH EHUUDVFKHQGNODU ª(V ZDU GDPDOV QDFK GHU IXUFKWEDUHQ 3HVWHSHGHPLH GLH DOV 9RUERWH DQGHUHU 6HXFKHQ VLFK EHU (XURSD KLQVFKOHSSWH 1DFKKHU .HLQ 6FKLII LFK HUZDFKWH DOV VLFK HLQ QHXHV :HOWELOG DE]X]HLFKQHQEHJDQQZDUWHW© (U VFKOR GLH $XJHQ VDK QDFK HLQHU NOHLQHQ :HLOH KLQDXV LQ GLH 'XQNHOKHLW GLH YRQ GHQ *DVIDFNHOQ IHUQHU )XPDUROHQ HUKHOOW ZDU XQG EHJDQQ ]X VSUHFKHQ =X VFKLOGHUQ 7HNHQHU VD LQ HLQHP]ZHLWHQ6HVVHOLQVHLQHQ$UPHQGDV0lGFKHQ,QJH\Q $WODQEHULFKWHWH
6$2 0,*8(/ GLH ODQJJHVWUHFNWH ,QVHO EHKHUEHUJWH DQ HLQHU XQ]XJlQJOLFKHQ XQG DXHUJHZ|KQOLFK JXW JHWDUQWHQ 6WHOOH GHV K|FKVWHQ ,QVHOEHUJHV GLH YROOURERWLVFKHQ 2UWXQJVJHUlWH GHU7LHIVHHNXSSHO+LHUZXUGHQGLH%LOGXQG7RQIXQNLPSXOVHGHU6SLRQNXJHOQDXIJHIDQJHQGLHGHU XQHUPGOLFKH5RERWHUDXVVDQGWHXQGXPGLH:HOWVWHXHUWH0HKUDOV0HWHUWLHIODJGLHJURH 'UXFNNXSSHO XQWHU GHP :DVVHU GHV 2]HDQV 'LH XQKHLPOLFKH ODQJH 5XKH LQQHUKDOE GLHVHV VWlKOHUQHQ .lILJV ZXUGH XQWHUEURFKHQ GLH $GGLWLRQ DOOHU %HREDFKWXQJHQ DOOHU 5RERWVSLRQH KDWWH HUJHEHQ GD GLH EDUEDULVFKHQ 9|ONHU GHV 3ODQHWHQ 'UHL YRQ /DUVDIV *HOEHP 6WHUQ HLQHP 3XQNW HQWJHJHQVWHXHUWHQ DQ GHP YLHOH 9HUVXFKH HLQ ULFKWLJHV :HOWELOG ]X HQWZLFNHOQ VLFK KlXIWHQ (V ZDUHLQHGHUJURHQ&KDQFHQIUGHQ:lFKWHUEHUGDV:RKOGLHVHV3ODQHWHQ
'LH KXPDQRLGHJHVFKOHFKWVORVH)RUP GHV 5RERWHUVVHLQ VWlKOHUQHU.RSIPLW GHQ HOHNWURQLVFKHQ 6LQQHVRUJDQHQVFKREHQVLFKLQPHLQ%OLFNIHOG,FKYHUVXFKWHHLQZDQGIUHL]XVSUHFKHQ ª:DUXPKDVWGXPLFKJHZHFNW5LFR"© $XI GHP %LOGVFKLUP YHUEODWHQJHUDGH GLHOHW]WHQ %LOGHUDXVGHU/DJXQHQVWDGW 9HQHGLJ :LHGHU ZDU LFK LQ GHP JHVFKPFNWHQ UXKLJHQ +DXV YROOHU 6RQQHQJODQ] LQ GHP LFK PLW $OH[DQGUD JOFNOLFKJHZHVHQZDU ª*HELHWHU©VDJWH5LFRPLWGHU6WLPPHGLHPLUVFKODJDUWLJYHUWUDXWZDUDOVLFKGLH:RUWHEHJULII ² MDKUWDXVHQGHODQJ KDWWH LFK VLH DOV HLQ]LJH ªPHQVFKOLFKH© 6WLPPH JHK|UW 'LH (LQGUFNH GHV +LQHLQ(UZDFKHQVLQHLQHQHXH=HLWGUDQJHQLPPHUGHXWOLFKHUDXIPLFKHLQª*HELHWHUHVLVW=HLW© ,FKULFKWHWHPLFKPLW]LWWHUQGHQ$UPPXVNHOQKDOEDXIVDQNDEHUNUDIWORVZLHGHU]XUFN ª(LQ6FKLII"©IUDJWHLFKUDXK ª.HLQ6FKLII$EHUHLQH0HQJHYRQ,GHHQXQG0lQQHUQGLHVLHYHUZLUNOLFKHQN|QQHQ1RFKQLH ZDUGLHVHU3ODQHWVRQDKHGDUDQVHLQH3RVLWLRQLP.RVPRVZLUNOLFK]XEHJUHLIHQ© ,FK OLH PLFK ]XUFNIDOOHQ XQG VFKOR GLH $XJHQ 6FKOHLHU XQG 3XQNWH ELOGHWHQ VLFK DXI GHU 1HW]KDXWDE ª.HLQ 6FKLII 'DV EHGHXWHW HLQHQ 9RUVWR GHU ZLHGHU KLHU XQWHQ HQGHQ ZLUG© NHXFKWH LFK PLW KDOEJHOlKPWHQ 6WLPPElQGHUQ /DQJVDP IOR GHU 6WURP EHOHEHQGHU 0HGLNDPHQWH GXUFK PHLQHQ .UHLVODXI $XI GHU QDFNWHQ %UXVW ODJ GHU HLJURH =HOODNWLYDWRU *DUDQW IU HLQ ODQJHV /HEHQ XQG 0LWWHO PLFK ZDKQVLQQLJ ]X PDFKHQ ² ZLHYLHO ELWWHUH (LQGUFNH ZUGH LFK DXI GLHVHU :HOW QRFK HPSIDQJHQHKHHVPLUJHODQJQDFK$5.21]XNRPPHQ" ª:HOFKH=HLW"©IUDJWHLFKOHLVH ª1RYHPEHU QDFK GHU =HLWUHFKQXQJ MHQHU .LUFKH© VDJWH 5LFR ª(LQ NKQHV -DKUKXQGHUW LVW DQJHEURFKHQ 'X VROOWHVW GLFK EHVLQQHQ XQG GHQ %DUEDUHQ KHOIHQ YLHOH LKUHU 3UREOHPH ]X O|VHQ :DKUKDIW VHOWVDPH 'LQJH VLQG JHVFKHKHQ ZDKUKDIW JURH ,GHHQ VLQG LP $QVDW] ]X HUNHQQHQ 'X VROOWHVW*HELHWHUGHLQH9HUDQWZRUWXQJZDKUQHKPHQXQGYHUVXFKHQGLH,GHHQXQG(UILQGXQJHQ]X EHHLQIOXVVHQ© 0LUVFKZLQGHOWH:LHGHUPXWHLFKHQWVFKLHGLFKPLFKDXIVWHKHQLQYLHOH0DVNHQYHUNOHLGHQXQG ]DKOUHLFKH $EHQWHXHU EHVWHKHQ (LQ NKQHV -DKUKXQGHUW KDWWH 5LFR JHVDJW (V ZUGH QLFKW YLHO DQGHUV DXVVHKHQ DOV DOOH DQGHUHQ -DKUKXQGHUWH ]XYRU 6HXFKHQ XQG .ULHJH +D XQG *ODXEHQVNlPSIHhEHUIlOOHXQGHLQ]HOQH,QVHOQGHU6FK|QKHLWGHU5XKHXQG GHU:HLVKHLW0LFKVFKWWHOWHHVEHLGHP*HGDQNHQPLFKZLHHLQGDKLQWDXPHOQGHU0HWHRUGXUFK GLHVH:HOW]XEHZHJHQ5LFRULPLFKDXVGHQWUEHQ*HGDQNHQ ª*HELHWHU©VDJWHHUXQEHWRQWª'XPXWHLQQHXHV.RQ]HSWILQGHQ9HUVXFKHGLHVHQ$XVIOXJLQ GLH *HVFKLFKWH YRQ /DUVDI 'UHL DOV JURHV SHUV|QOLFKHV $EHQWHXHU ]X EHWUDFKWHQ +DQGOH QLFKW XQWHU=ZDQJ EHZHJHGLFKVSLHOHULVFKXQGOHLFKWGXUFKGLH:HOWGHV3ODQHWHQ© ,FK QLFNWH YRUVLFKWLJ VlPWOLFKH 0XVNHOQ VFKPHU]WHQ DOV GLH 9LEUDWLRQHQ GHU :LHGHUEHOHEXQJVPDVFKLQHQ HLQVHW]WHQ /DQJVDP YHUJLQJHQ UXQG KXQGHUW 6WXQGHQ LQ GHQHQ PHLQ 9HUVWDQGXQGPHLQ.|USHUVLFKODQJVDPDXVGHU6WDUUHGHV7LHIVFKODIHVXQGDXVGHU/HWKDUJLHGHU WUlJHQ*HGDQNHQO|VWHQ 'DQQVDKLFKDOOHVHLQZHQLJNODUHU :DV LFK EUDXFKWH ZDU HLQ JHQJHQG XPIDQJUHLFKHV .RQ]HSW XQG HLQH ªZLVVHQVFKDIWOLFKH $XVUVWXQJ© GLH ZHLW EHU GDV KLQDXVJLQJHQ ZDV LFK ELVKHU EHQ|WLJW KDWWH 'LH 0HQVFKHQ ZDUHQ DQVSUXFKVYROOHU JHZRUGHQ ZDV PHLQH 7DUQXQJ EHWUDI 8QG LFK ZUGH HLQH 0HQJH =HLW EUDXFKHQ 5LFRVDJWH ª:LUVROOWHQHLQH5RXWHIHVWOHJHQXQGGXUFKGLH5RERWPDVFKLQHQ'LQJHKHUVWHOOHQODVVHQGLHVLFK DQ YHUVFKLHGHQHQ 3XQNWHQ GHSRQLHUHQ ODVVHQ ,FK KDEH HLQH =HLW YRQ HWZDV PHKU DOV IQI]HKQKXQGHUW7DJHQHUUHFKQHW²GDVLVWGHP9RUKDEHQDQJHPHVVHQ© :lKUHQGLFKQDFKGHP)HKOVFKODJPHLQHU$NWLRQPLWGHPSHVWNUDQNHQ)UHPGOLQJVFKOLHIKDWWHQ NOHLQH IOLHJHQGH5RERWHU(GHOPHWDOOH JHVDPPHOW =DKOORVH %lQGHUZDUHQYROO,QIRUPDWLRQHQEHU
GLH GD]ZLVFKHQOLHJHQGH =HLW 6SUDFKHQ XQG 9|ONHU :DQGHUXQJHQ XQG *ODXEHQVOHKUHQ $QDO\VHQ XQG PDVFKLQHOOH 3URJQRVHQ 'DV DOOHV HLJQHWH LFK PLU DQ XQG VLHKH HV ZDU ZLUNOLFK HLQH NKQH =HLW 5LFR VDJWH ZlKUHQG LFK GLH +DXEH KRFKVFKRE XQWHU GHU LFK VRHEHQ HLQH QHXH 6SUDFKH JHOHUQW KDWWH ª(V ZLUG HLQH ODQJH VSDQQHQGH 5HLVH ZHUGHQ *HELHWHU 'X ZLUVW GLH XQ]lKOLJHQ 6FK|QKHLWHQ GLHVHU:HOWHQWGHFNHQ/DVVHGLFKQLFKWVW|UHQYRQGHQ0HQVFKHQ²YLHOHYRQLKQHQVLQGZLUNOLFK SUlFKWLJH(UVFKHLQXQJHQ© 9HUVXFKHQLFKWGLFKDOV+HLOVEULQJHU]XIKOHQZDUQWHPHLQ/RJLNVHNWRU =XQlFKVW VWHOOWHQ GLH 0DVFKLQHQ .OHLGXQJVVWFNH KHU GLH SUDNWLVFK OHLFKW ]X UHLQLJHQ XQG XQYHUZVWOLFKDOOHQYRUNRPPHQGHQ0RGHQHQWVSUDFKHQ²DOOHQ0RGHQUXQGXPGDV%LQQHQPHHU =XP 7HLO NRQQWH LFK EHUHLWV YRUKDQGHQH $XVUVWXQJHQ YHUZHQGHQ 'DQQ ZXUGHQ JURH 0HQJHQ ZHUWYROOHU XQG ZHQLJHU ZHUWYROOHU 0Q]HQ JHSUlJW $OV QlFKVWHV ZXUGHQ :DIIHQ XQG ZLVVHQVFKDIWOLFKH $XVUVWXQJHQ KHUJHVWHOOW XQG QHX EHDUEHLWHW HLQH PHLQHU 5ROOHQ VDK HLQHQ *HOHKUWHQ YRU 6FKZHUH ZLGHUVWDQGVIlKLJH 3DSLHUH XQG VROFKH GHUHQ =HLFKQXQJHQ QDFK HLQHU EHVWLPPWHQ=HLWYHUEODVVHQ XQG YHUVFKZLQGHQ ZUGHQ VSH]LHOOH =HLFKHQVWLIWH XQG )HGHUQ /LQVHQ XQG DQGHUH :HUN]HXJH PHKUHUH .RPSDVVH XQG QDXWLVFKH ,QVWUXPHQWH :LQNHO XQG )DUEWXVFKHQ :LUVRUWLHUWHUDOOHVDXVXQGWDUQWHQHVGHUJHVWDOWGDQLHPDQGVWXW]LJZHUGHQZUGH ,FK IULVFKWH PHLQH QDXWLVFKHQ .HQQWQLVVH DXI ODQJVDP EHJDQQ VLFK HLQ 3ODQ LQ LPPHU IHVWHUHQ 8PULVVHQKHUDXV]XELOGHQ)QI]HKQKXQGHUW7DJH(VZUGHHLQHEHLVSLHOORVH5HLVHZHUGHQ ,FK EHJDQQ PHLQHP $XIVWLHJ DQ GLH 2EHUIOlFKH GHV 3ODQHWHQ PLW LPPHU JU|HUHP 9HUJQJHQ HQWJHJHQ]XVHKHQ 8QHUPGOLFK DUEHLWHWHQ GLH 0DVFKLQHQ XQXQWHUEURFKHQ YHUZHQGHWH 5LFR ODQJ JHVSHLFKHUWHV :LVVHQ XP PLFK HQWVSUHFKHQG YRU]XEHUHLWHQ XQG PHLQH JHVDPWH $XVUVWXQJ QDUUHQVLFKHU ]X PDFKHQ 0HGLNDPHQWH XQG 6DOEHQ FKLUXUJLVFKH ,QVWUXPHQWH XQG %LQGHQ YLHOIDFK JHWDUQWH *HUlWH XQG VFKOLHOLFK GHU DXVJHVFKULHEHQH ,QGH[ HLQHU 7HFKQRORJLH GLH PLW HLQIDFKHQ 0LWWHOQXQGVLFKHUHQ0DWHULDOSUREHQJHVWDWWHWHDOWKHUJHEUDFKWH0DWHULDOLHQQRFKVLFKHUHUXQGQRFK EHVVHU]XYHUZHQGHQ 8QG VFKOLHOLFK HLQ NRPSXWHUEHUHFKQHWHV 0RGHOO HLQHV VLHE]LJ 7RQQHQ JURHQ 6FKLIIHV GDV LFK EDXHQODVVHQZUGH 'DQQ GLH 1DPHQ YRQ JURHQ 0lQQHUQ GLH LFK EHVXFKHQ ZUGH XQG IDOOV VLH QLFKW PHKU OHEWHQ GHUHQ:HUNHLFKPLWHLJHQHQ$XJHQVHKHQZROOWH 0LFKHODQJHOR 'UHU +LHURQ\PXV %RVFK 7KRPDV 0RUXV /XWKHU GD 9LQFL %HKDLP .RSHUQLNXV %HVRQGHUV 1LNRODXV .RSHUQLNXV 8QG DQGHUH :LU DUEHLWHWHQ HLQH LQWHUHVVDQWH 5HLVHURXWH DXV (V JDE JHJUQGHW YRQ HLQHP $GHOLJHQ QDPHQV 7D[LV VRJDU HLQH %ULHISRVWLQGHQ/lQGHUQQ|UGOLFKGHV%LQQHQPHHUHV (LQPDOVWLHJHLQHJURHGUXFNJHVLFKHUWH7RQQHDXIGLHPLW HLQHU 5RERWVWHXHUXQJ PLW )XQNJHUlW XQG )OXWWDQNV DXVJHUVWHW ZDU 6LH HQWKLHOW DOOH MHQH *HJHQVWlQGHGLHLFKQLFKWEHLPHLQHQHUVWHQ.RQWDNWHQEUDXFKWH,FKZUGHVLHVSlWHUDEUXIHQXQG DQODQGHQODVVHQZHQQLFKPLFK]XHLQHPIHVWHQ:RKQRUWHQWVFKORVVHQKDWWH 0HLQ*OHLWHUZXUGHEHODGHQ 8QGGLHHUVWH.OHLGXQJGLHLFKYHUZHQGHQZUGHZDUGLH7UDFKWHLQHVVSDQLVFKHQ*UDQGHQ0HLQ HUVWHV =LHO ODJ EHUHLWV IHVW (QGH 1RYHPEHU GHV -DKUHV EHWUDW LFK GHQ VSDQLVFKHQ +DOENRQWLQHQW ,FK NDQQWH LKQ EHUHLWV LQ ZHLWHQ 7HLOHQ KLHU ZUGH LFK GLH JHULQJVWHQ $QSDVVXQJVFKZLHULJNHLWHQKDEHQ 'DV$EHQWHXHUGHUIQI]HKQKXQGHUW7DJHEHJDQQ 6(9,//$ GDV PLWWHOJURH 6WlGWFKHQ DP 8QWHUODXI GHV *XDGDOTXLYLU IHUQDE YRQ 9DOODGROLG DP
'XHUR)OXZRLPN|QLJOLFKHQ3DODVWGHU.QDEH&DUORV,VHLQHHUVWHQXQEHKROIHQHQ6FKULWWHDOV +HUUVFKHU YHUVXFKWH NDP QlKHU ,FK ULWW DXI HLQHP ULHVLJHQ DXVGDXHUQGHQ 5DSSHQ GHQ LFK QDKH 0XHOYD JHNDXIW KDWWH ]XJOHLFK PLW HLQHP ]ZHLWHQ 7LHU GDV HWZD GLH +lOIWH PHLQHV *HSlFNV WUXJ DOOH GLH 'LQJH GLH LFK XQPLWWHOEDU EUDXFKWH RGHU ]X EUDXFKHQ JODXEWH 1HEHQ PHLQHQ .QLHQ VWHFNWHQ LQ ODQJHQ ZDVVHUGLFKWHQ 6DWWHOWDVFKHQ ]ZHL ODQJOlXILJH 5HLWHUSLVWROHQ WlXVFKHQG QDFKJHDKPW DEHU PLW 0DJD]LQHQ IU MH GUHLXQGGUHLLJ 6FKX LQ GHQ VFKZHUHQ *ULIIHQ ,Q HLQHU .RUEIODVFKH JOXFNVWH GHU VFKZHUH URWH :HLQ DXV -HUH] -H PHKU LFK PLFK 6HYLOOD QlKHUWH GHVWR PHKUKREVLFKGLH(UZDUWXQJDXIHLQ(UHLJQLV,FKZXWHQLFKWZDVPLFKHUZDUWHWH(LQVFKZDU]HU *HSDUGHLQHUGHUEHVWHQ5RERWHUGLHPHLQH0DVFKLQHQMHKHUJHVWHOOWKDWWHQOLHI]ZDQ]LJ0HWHUYRU GHP5DSSHQXQGEHREDFKWHWH:HJXQG8PJHEXQJ
,FKULWWGDKLQLQ*HGDQNHQYHUVXQNHQ]XJOHLFKKHLWHUXQGHWZDVEHVRUJW'LH6RQQHEUlXQWHPHLQ *HVLFKWXQGPHLQH +lQGH HVZDUVHKUZDUPIUGLHVHZLQWHUOLFKH-DKUHV]HLW.QRUULJH2OLYHQElXPHXQGUDVFKHOQGH 3DOPHQ VlXPWHQ PHLQHQ :HJ 'LH IULVFKHQ 3IHUGH OLHIHQ HLQHQ ODQJVDPHQ NUlIWHVFKRQHQGHQ *DORSS 'DV *HUlXVFK GHU +XIH YHUORU VLFK LQ GHQ VWDXELJHQ WURFNHQHQ :HLGHQ EHLGHUVHLWV GHV :HJHV,FKVFKUDNDXIDOVGHU*HSDUGDXINQXUUWH 'DV7LHUEOLHEVWHKHQVSDQQWHGLHHOHNWURPDJQHWLVFKHQ0XVNHOQDQ,FKULWWHWZDVVFKlUIHUKHUDQ ]RJGLH:DIIHXQGKLHOWGLH3IHUGHDQ ª+R:DVVLHKVWGX6FDUURQ"©IUDJWHLFKOHLVH 'DV 7LHU GUHKWH GHQ .RSI OLHI ODQJVDP XQG IHGHUQG GXUFK GDV *HEVFK DP :HJUDQG +LQWHU HLQHP WURFNHQHQ LP :LQG NQLVWHUQGHQ 6WUDXFK VDK LFK HLQLJH IDUELJH 6WRIIH F]HQ ,FK VFKZDQJ PLFKDXVGHP6DWWHOKREGLH:DIIHXQGNQXUUWH ª+DOWHGLH3IHUGH6FDUURQ© 'HUVFKZDU]H*HSDUGPLWGHQODQJHQ/lXIHQZDUIVLFKKHUXPXQGVFKQDSSWHQDFKGHQ=JHOQ'LH 7LHUHKDWWHQVLFKVFKRQDQGLHVHVFKQHOOHQ%HZHJXQJHQJHZ|KQWXQGVFKHXWHQNDXP,FKGUDQJLQ GDV*HEVFKHLQ ª+HUU:DVVHU©VWDPPHOWHGHU0DQQGHU]XVDPPHQJHNUPPWLP6FKDWWHQODJ,FKEOLHE VWHKHQ ZDUHUHLQ6LPXODQWGDQQNRQQWHGLHVHLQH)DOOHVHLQ$EDUGDQQVDKLFKGLH:XQGHQXQG GDVJHURQQHQH%OXWXQGLFKZXWHGDLFKGDV2SIHUHLQHVhEHUIDOOVYRUPLUKDWWH ª6FDUURQ'DV3DFNSIHUG©ULHILFKXQGOHJWHGLH:DIIHJULIIEHUHLW]XU6HLWH,FKEHWUDFKWHWHVFKDUI GHQ 0DQQ GHU YRU PLU ODJ XQG OHLVH VW|KQWH (U ZDU JUR XQG EUHLWVFKXOWULJ KDWWH ODQJHV XQG VFKPXW]LJHV VFKZDU]HV +DDU XQG KHOOEUDXQH +DXW (LQ 0LVFKOLQJ ]ZLVFKHQ $UDEHU XQG 6SDQLHU RIIHQVLFKWOLFK (DQJVDP XQG YRUVLFKWLJ VFKRE LFK VHLQH $UPH DXVHLQDQGHU XQG VWDQG DXI DOV GDV 3IHUG QHEHQ PLU VWDQG ,FK LQML]LHUWH HLQ HQWVSDQQHQGHV XQG VFKPHU]VWLOOHQGHV 0LWWHO VlXEHUWH GLH :XQGHDQGHU6FKXOWHUXQGGLHDP+DDUDQVDW]XQGIO|WHLKPHLQHQ6FKOXFN:HLQHLQ ª'DQNH+HUUVLHKDEHQPLFKEHUIDOOHQ© ,FKKDWWHGLH:XQGHQYHUEXQGHQULFKWHWHLKQDXIXQGHUQDKPDEHUPDOVHLQHQJURHQ6FKOXFNDXV GHU .RUEIODVFKH 'HU :HLQ OLHI DXV VHLQHQ 0XQGZLQNHOQ ,FK VWW]WH LKQ ELV VHLQH $UPH +DOW DP 3DFNVDWWHOIDQGHQ:lKUHQGLFKGDV9HUEDQGV]HXJYHUVWDXWHIUDJWHLFK ª:HUELVWGX"© (U VFKLHQ QLFKW DUP ]X VHLQ XQG DOV HU QDFK HLQLJHQ WLHIHQ $WHP]JHQ ]XVDPPHQKlQJHQG ]X VSUHFKHQ EHJDQQ ZXWH LFK DXFK GD HU DXV HLQHU )DPLOLH ]X VWDPPHQ VFKLHQ GLH JHZLVVHV $QVHKHQLQ6HYLOODJHQR ª(V ZDU HLQH %DQGH YRQ VHFKV 0lQQHUQ GLH PLFK EHUILHOHQ ,FK ZDU DXI GHP :HJ ]XP 6NODYHQPDUNW ZLUEUDXFKHQHLQLJH+HOIHUIUXQVHU+DXV$OOHVLVWIRUWGDV*HOGGHU6DWWHOXQGGDV 3IHUG© ,FKQLFNWH ª,FKPXQDFK6HYLOOD©VDJWHLFKª,FKEUDXFKHMHPDQGHQGHUPLUKLOIW:ROOW,KUPLWPLUUHLWHQ"©
ª*HUQ©VDJWHHUª,FKELQ'LHJRGH$YDUUD© ª0HLQ 1DPH LVW $WODQ GH *RQR]DO \ $UFRQ© VDJWH LFK ª(LQ )UHPGHU LQ GLHVHP :LQNHO GHV /DQGHV $QGDOXVLHQ :LU VROOWHQ ]XVDPPHQ UHLWHQ :R LVW GHU 6NODYHQPDUNW GHQ ,KU EHVXFKHQ ZROOWHW"© ª,Q&RULD'HUQlFKVWH2UW:LUVLQGHLQH)DPLOLHDXV6HYLOOD 6FKLIIEDXHU'LH&DVDGHO2FHDQR OlWEHLXQVLKUH.DUDYHOOHQEDXHQ© ,FK]XFNWH]XVDPPHQ GLHVHU0DQQ'LHJRZDUEXFKVWlEOLFKLQPHLQ$EHQWHXHUKLQHLQJHVWROSHUW 'LH5HLVHGHUIQI]HKQKXQGHUW7DJHEHJDQQPLWHLQHP*OFNV]XIDOOGHUEHVVHUQLFKWVHLQNRQQWH ,FKKDOI'LHJRLQGHQ3DFNVDWWHOVFKZDQJPLFKDXIPHLQHQ5DSSHQXQGVDJWH ª,KUZHUGHWHVELV&RULDDXVKDOWHQ'LHJR'RUWVHKHQZLUZHLWHU© ª6FKRQMHW]WGDQNHLFK(XFK$UFRQIUGLH+LOIH0HLQH)DPLOLHZLUG(XFK]HLJHQZDVVLHYRQ 'DQNKlOW© ,FKKREGLH+DQGXQGODQJVDPULWWHQZLUZHLWHU1DFK]ZDQ]LJ6FKULWWHQNHKUWHLFKXPXQGKROWH GLH :DIIH GLH LFK YHUJHVVHQ KDWWH *HJHQ 0LWWDJ JHODQJWHQ ZLU QDFK &RULD XQG QDKPHQ ]ZHL JHUlXPLJH =LPPHU LQ HLQHP NOHLQHQ *DVLKRI GHU DP 8IHU GHV *XDGDOTXLYLU ODJ ,FK OLHK 'LHJR HWOLFKH0DUDYHGLVXQGHUJLQJXPVLFKQHXHLQ]XNOHLGHQXQGHLQHQQHXHQ'HJHQ]XNDXIHQ$P 1DFKPLWWDJ VROOWH GHU 6NODYHQPDUNW VWDWWILQGHQ DEHU GLH *lVWH GLHVHU 6WDGW VFKLHQHQ DXIIlOOLJ JHULQJ DQ GHU =DKO ]X VHLQ 'LHVH PHQVFKOLFKH +\lQH GHU 6NODYHQKlQGOHU ZUGH QLFKW YLHO *HVFKlIWPDFKHQ1DFKGHP'LHJRZLHGHU]XUFNJHNRPPHQZDUNPPHUWHLFKPLFKLQVHL QHP=LPPHULQWHQVLYHUXPGLH:XQGHQZDQGWHGLHKHLOHQGH.UDIWGHV$NWLYDWRUVDQXQGVDKPLW =XIULHGHQKHLWGDGLH:XQGHQZHLWZHQLJHUVFKOLPPZDUHQDOVLFKDQJHQRPPHQKDWWH6FKOLHOLFK VDJWH'LHJR ª0RUJHQVLQGZLULQ6HYLOOD$UFRQ:DVKDEW,KUYRU"© ª8QWHUDQGHUHP©VDJWHHUQDFKGHQNOLFKªKDEHLFKYRUHLQH5HLVH]XEHJLQQHQ'D]XEUDXFKHLFK GDV EHVWH 6FKLII GDV MHPDOV HLQH :HUIW YHUODVVHQ KDW 8QG HLQH JXWH 0DQQVFKDIW $EHU GDUEHU XQWHUKDOWHQZLUXQVVSlWHU© (UVWXW]WHGDQQODFKWHHUNXU]YHU]RJDEHUGDV*HVLFKWYRU6FKPHU]HQ ª6HLG,KUYRQ$GHO"2GHUVHLG,KUHLQ*HOHKUWHU"© ª'DVHLQHVFKOLHWGDVDQGHUHQLFKWDXV,FKELQHLQDGHOLJHU*HOHKUWHUGHUGLH:HOWVHKHQXQGPLW YLHOHQ DQGHUHQ 0HQVFKHQ VSUHFKHQ ZLOO PLW .DSLWlQHQ HEHQVR ZLH PLW NOXJHQ :LVVHQVFKDIWOHUQ PLW 0DOHUQ RGHU )UVWHQ ,FK KDEH HLQH (UEVFKDIW JHPDFKW XQG KDEH JHQXJ *HOG XP IQI]HKQKXQGHUW7DJHODQJQLFKWVWXQ]XPVVHQ© 'LHJRVDJWH ª,FK EHZXQGHL H XQG EHQHLGH (XFK XP GLHVH 0|JOLFKNHLW $UFRQ %HJOHLWHW ,KU PLGL ]XP 6NODYHQPDUNW"© ,FKQLFNWH :LU VFKQDOOWHQ XQVHUH :DIIHQ XP 'HU *HSDUG EHZDFKWH PHLQ *HSlFN XQG LFK VFKRE HLQH 5HLWHUSLVWROH LQ GHQ EUHLWHQ /HGHUJUWHO PLW GHU ZXFKWLJHQ 6FKQDOOH LQ GHU YLHOH 0LNURJHUlWH HLQJHEDXW ZDUHQ 'DQQ YHUOLHHQ ZLU GDV *DVWKDXV XQG JLQJHQ ODQJVDP LQ GLH 5LFKWXQJ GHV 0DUNWSODW]HV 'RUW DXI GHU 5DPSH HLQHV /DJHUKDXVHV VROOWHQ GLH 6NODYHQ YHUVWHLJHUW ZHUGHQ :lKUHQG ZLU QHEHQHLQDQGHU GXUFK GLH *DVVHQ &RULDV VFKULWWHQ ZlKUHQG DXIJHUHJWH .|WHU XQVHUH 6WLHIHOXPNOlIIWHQXQG.LQGHUVSLHOWHQGDFKWHLFKQDFK 'X ZLUVW GLFK ZLHGHU VHOEVWTXlOHULVFKHQ *HGDQNHQ KLQJHEHQ $UNRQLGH VDJWH GHU ([WUDVLQQ %HJUHLIH HV HQGOLFK 'X NDQQVW VHKU ZHQLJ LQ GLHVHU :HK lQGHUQ %HVVHUH 0lQQHU KDEHQ HV YHUVXFKWXQGVLQGJHVFKHLWHUW ,FKZXWHHVDEGLHVHP$XJHQEOLFNJHQDX $XFKKLHUZUGHLFK'LQJHPLWHUOHEHQGLH]XELOOLJHQ LFKPLFKELV]XPlXHUVWHQVWUlXEWH$EHULFKZUGHVLHNDXPDQGHUVDOVPLWGHU+LOIHHLQHUJURHQ DUNRQLGLVFKHQ)ORWWHO|VHQN|QQHQQLFKWDOVYHUNOHLGHWHU)UHPGHUGHUQXUDQHLQ]HOQHQXQGYLHO]X ZHQLJHQ 3XQNWHQ KHOIHQ NRQQWH ,FK PXWH PLFK QDFK GHQ 0|JOLFKNHLWHQ QLFKW QDFK GHQ XQHUUHLFKEDUHQ,GHDOHQULFKWHQ'DVEHWUDIDXFKGHQ0DUNWGHU6NODYHQGHUQLFKWQXUKLHULQ&RULD VWDWWIDQG VRQGHUQ LQ JOHLFKHU 6HNXQGH DQ 7DXVHQGHQ YRQ 6FKDXSOlW]HQ DXI GLHVHP 3ODQHWHQ 6HLW
/DV&DVDVGHQ1HJHUVNODYHQKDQGHOJXWJHKHLHQKDWWHVFKLHQHQDXFKGLHOHW]WHQ6FKUDQNHQJHIDOOHQ ]X VHLQ DXV 0HQVFKHQ ZXUGHQ +DQGHOVJWHU :LU NDPHQ DQ GHQ 0DUNWSODW] DXI GHP HLQ]HOQH *UXSSHQ PUULVFK DXVVHKHQGHU (LQZRKQHU VWDQGHQ (LQ %UXQQHQ SOlWVFKHUWH NOHLQH 6WDXEZLUEHO HUKREHQ VLFK XQG HLQ 6FKZlUP 7DXEHQ NUHLVWH XQXQWHUEURFKHQ ]ZLVFKHQ GHQ 'lFKHUQ (WZD GUHLLJ 6NODYLQQHQ XQG 6NODYHQ IDVW DXVQDKPORV 0LVFKOLQJH ]ZLVFKHQ $UDEHUQ XQG QHJURLGHQ 9|ONHUQ VWDQGHQ WHLOZHLVH QDFNW DQ HLQ ODQJHV 7DX JHEXQGHQ 'DV 7DX VSDQQWH VLFK YRQ HLQHP (QGH GHU 5DPSH ELV ]XP DQGHUHQ (LQ JULPPLJ DXVVHKHQGHU $UDEHU PLW KDOEYHUKOOWHP *HVLFKW VWDQG DXI HLQHQ 3HLWVFKHQVWLHO JHOHKQW LP 6FKDWWHQ :LU WUDWHQ QlKHU KHUDQ 'LHJR PXVWHUWH GLH 6NODYHQDOVZlUHQVLHMXQJH3IHUGH,FKEOLFNWHLKQYRQGHU6HLWHDQVFKZLHJPXVWHUWHPHLQHUVHLWV GHQ 0DXUHQ GDQQ JLQJ LFK HLQ ZHQLJ ]XUFN XQG OLH PHLQHQ %OLFN GLH 5HLKH GHU 6NODYHQ HQWODQJZDQGHUQ 'LH MQJVWHQ ZDUHQ QRFK .LQGHU GLH lOWHVWHQ VFKLHQHQ QLFKW EHU GUHLLJ -DKUH DOW ]X VHLQ ,KUH $XJHQZDUHQVWXPSI QXUVHOWHQEHPHUNWHLFKGD'LHJRRGHULFKEHZXWDQJHVHKHQZXUGHQ2KQH =ZHLIHO OLWWHQ VLH 'XUVW PDQJHOKDIWH 9HUSIOHJXQJ XQG GLH 'HPWLJXQJ NRQQWHQ HLQHQ 0HQVFKHQ LQQHUKDOENXU]HU=HLWYHUZDQGHOQ:DVNRQQWHLFKWXQ" 'LHJRYHUKDQGHOWHPLWGHP$UDEHU(LQ]ZHLWHU:VWHQVRKQWDXFKWHDXIHLQGULWWHU6LHVSUDFKHQ JHEURFKHQ 6SDQLVFK 'LH 8QWHUKDOWXQJ ZXUGH ODXWHU ,FK YHUKLHOW PLFK DEZDUWHQG XQG EHPHUNWH ZLH VLFK HLQLJH *UXSSHQ YRQ (LQZRKQHUQ QlKHUWHQ 'HU ([WUDVLQQ PHOGHWH VLFK XQG IOVWHUWH HLQGULQJOLFK 'X VROOWHVW ]ZHL RGHU GUHL GLHVHU $UPHQ NDXIHQ IU GHLQ 9RUKDEHQ ZLUVW GX WUHXH XQG VWDUNH +HOIHUEUDXFKHQGLHHKUOLFK]XGLUKDOWHQ 'LHJRNDXIWHGUHL6NODYHQ ]ZHLMQJHUH)UDXHQXQGHLQHQ0DLLQGHUZHGHUEHVRQGHUVLQWHOOLJHQW QRFKEHVRQGHUVVWDUN]XVHLQVFKLHQ,FKJLQJDXIGHQ$QIKUHUGHU6NODYHQKlQGOHU]XXQGVSUDFK LKQLQVHLQHUHLJHQHQ6SUDFKHDQ ª6RKQ GHU :VWH© VDJWH LFK OHLVH ª%UXGHU GHV ZHKHQGHQ 6DQGHV ,FK ELQ JHVRQQHQ GHLQHQ VFKOHFKWYHUNlXIOLFKHQ 9RUUDW DQ 0HQVFKHQ ]X YHUNOHLQHUQ :DV NDQQVW GX HLQHP )HLQVFKPHFNHU DQELHWHQ"© EHUUDVFKWEOLW]WHQPLFKGLH$XJHQKLQWHUGHPGXQNOHQ6WRIIDQ'HU$UDEHUVDJWHKHLVHU ª'XNHQQVWPHLQH6SUDFKH(GOHU"© ª$XFK GHLQH +DQGHOVVSDQQH NHQQH LFK© HUZLGHUWH LFK QRFK OHLVHU XQG VFKlUIHU ª8QG LFK VHKH DXFK GD GX YRQ GHLQHP *HVFKlIW ZHQLJHU YHUVWHKVW DOV HLQ )LVFKHU GHU VHLQHQ )DQJ QDFKWV YHUK|NHUW© 6HLQH +DQG IXKU ]XP 'ROFK ,FK ODFKWH XQG YHUVXFKWH HLQH JHK|ULJH 3RUWLRQ 9HUDFKWXQJ ]X ]HLJHQ ª(KHGX]XVWLFKVW%UXGHUGHV6NRUSLRQV©IOVWHUWHLFKªGULQJWGLH.XJHODXVGLHVHU:DIIHGXUFK GHLQHQ.RSI© (UDWPHWHVFKZHUXQGNQXUUWH ª:DUXPEHOHLGLJVWGXPLFK6SDQLHU"© ª:HLO GX GHLQH 6NODYHQ KXQJHUQ OlW ZHLO VLH 'XUVW KDEHQ XQG ]XYLHO YRQ GHU 3HLWVFKH DEEHNRPPHQ KDEHQ %HVFKlGLJWH :DUH ² ZHQLJHU *HOG :DV ZLOOVW GX IU GLH VFKODQNH 6NODYLQ GRUWLKUH1DFKEDUQXQGGHQ0DQQDQGHUOHW]WHQ6WHOOHGHU5HLKH"© (UEHUOHJWH'DQQVDKLFKZLHHUXQGVHLQ1DFKEDUHLQHQ%OLFNZHFKVHOWHQ 6LHPHUNHQGDGXGLHEHVWHQXQGZHUWYROOVWHQ6NODYHQDXVJHVXFKWKDVWVDJWHGHU([WUDVLQQ ª'UHLKXQGHUW0Q]HQGLHVHU*HJHQG©VDJWHGHU$UDEHU,FKODFKWHVFKDOOHQGXQGGUHKWHPLFKXP (LQ5LQJYRQ1HXJLHULJHQVDK]XZLHHLQYLHUWHU$UDEHUGLHYRQ'LHJRJHNDXIWHQ6NODYHQORVEDQG XQGZHJIKUWH VLHZXUGHQLQGHQ*DVWKRIJHEUDFKW ª+XQGHUWIQI]LJ XQG NHLQHQ 0DUDYHGL PHKU© VDJWH LFK ª'LH 6WULHPHQ GDV (VVHQ IU GLH QlFKVWHQ :RFKHQ XQG YLHOHV DQGHUH DEJHUHFKQHW ,FK ZUGH GUHLKXQGHUW JHEHQ ZlUHQ VLH QLFKW XQWHUHUQlKUWXQGKXQJULJ© :LU KDQGHOWHQ HLQH KDOEH 6WXQGH GDQQ JHK|UWHQ PLU GLH EHLGHQ MXQJHQ )UDXHQ XQG GHU ULHVLJH GXQNHOKlXWLJH0DQQ(UZDUXQYHUNHQQEDU$UDEHU NHLQ1HJHUGHVVHQ6LHGOXQJEHUIDOOHQZRUGHQ
ZDU,FKOLHVLHLQGHQ*DVWKRIEULQJHQXQGZDQGWHPLFKDQ'LHJR ª*HKHQZLU©VDJWHLFK 'LHVHU+DQGHOZLGHUWHPLFKDQXQGLFKZLQNWHLP*DVWKRIGLHGLFNH)UDXGHV:LUWHVKHUDQ,FK VSUDFK NXU] PLW LKU HUQWHWH HLQLJH VHKU HUVWDXQWH %OLFNH XQG :LGHUVSUXFK GHQ LFK PLW HLQHP NOHLQHQ 6WDSHO *ROGPQ]HQ LP .HLP HUVWLFNWH $OV HV $EHQG ZXUGH ZDUHQ GLH VHFKV 6NODYHQ HUVWNODVVLJ HLQJHNOHLGHW EHVWHQV YHUVRUJW XQG VDWW 'HU :LUW XQG VHLQH )UDX VFKREHQ VLH LQ PHLQ =LPPHU,FKVWDQGDXIXQGHUNOlUWHLKQHQGDLFKVLH]ZDUJHNDXIWKDEHVLHDEHULQ6HYLOODIUPHLQ +DXVEUDXFKHQZUGHXQGLKQHQZHQQVLHVLFKHQWVSUHFKHQGYHUKLHOWHQLQNXU]HU=HLWGLH)UHLKHLW JHEHQ ZUGH ,KUH 9HUEOIIXQJ ZXFKV QRFK PHKU DOV LFK HLQ ZHLWHUHV =LPPHU PLHWHWH XQG GHP :LUWVDJWHHUVROOHHLQHQOHLFKWHQ.DUUHQXQG]ZHL3IHUGHNDXIHQ ZLUKlWWHQHVHLOLJPRUJHQQDFK 6HYLOOD]XNRPPHQ'LHJRZDUQLFKWZHQLJHUEHUUDVFKWXQGVFKZLHJYHUEOIIW$OVGLHXQZUGLJH 6]HQHLQGHUVLFKGLH6NODYHQEHGDQNWHQYRUEHLZDUZDQGWHHUVLFKHUVWDXQWDQPLFK ª'X,KUKDQGHOWPHKUDOVPHUNZUGLJ$WODQ© ,FK QLFNWH UXKLJ EUHLWHWH GLH $UPH DXV XQG VDK KLQDXV DXI GHQ )OX 'DQQ VDJWH LFK PLW 1DFKGUXFN ª(V PDJ EOLFK VHLQ 0HQVFKHQ ]X IDQJHQ VLH DOV (LJHQWXP ]X EHWUDFKWHQ XQG ]X YHUNDXIHQ 1LHPDQGILQGHWHWZDVGDEHL:HQQ,KU(XFKYRUVWHOOW'LHJRGD(XUH6FKZHVWHUPLWWHQLP/DQG GHU0DXUHQDQHLQHQ]LWWHUQGHQ*UHLVYHUNDXIWZLUGGDQQKDEW,KUGDVZDKUH%LOGGLHVHV3UREOHPV *XW²GLH6NODYHQZLVVHQGDVLH6NODYHQVLQGVLHP|JHQHVQLFKWDQGHUVNHQQHQ$EHULFK]LHKH HVVWHWVYRUPLFKPLWIUHLHQ0HQVFKHQ]XXPJHEHQ,FKEUDXFKH3DUWQHUPHLQHWZHJHQ*HJQHUDEHU NHLQH2SIHU.|QQW,KUGDVYHUVWHKHQ"© 'LHJR EHUOHJWH ODQJH GDQQ JDE HU HLQH EHUUDVFKHQGH $QWZRUW (U VDJWH VWRFNHQG XQG OHLVH ZREHLVLFKVHLQ*HVLFKWPLW5|WHEHU]RJ ª,KUKDEWUHFKW,FKZHUGHGDUEHUQDFKGHQNHQ8QGLQ6HYLOODZHUGHLFKYHUVXFKHQHLQH$QWZRUW ]XILQGHQGLH,KUVFKlW]HQZHUGHW© ª,FK ZUGH PLFK IUHXHQ ZHQQ ,KU PLU LQ 6HYLOOD LQ PHKUHUHQ 3XQNWHQ EHKLOIOLFK VHLQ ZUGHW© VDJWHLFKª9HUOHJHQZLUGLH'LVNXVVLRQEHUGLHVHV3UREOHPDXIGHQPRUJLJHQ$EHQG© :LU WUDQNHQ HLQH 0HQJH 5RWZHLQ DHQ XQWHUQDKPHQ HLQHQ ODQJHQ 6SD]LHUJDQJ DP )OXXIHU ZlKUHQG GHP PLU 'LHJR EHULFKWHWH ZDV VLFK LP /DQG XQG QDKH GHU *UHQ]HQ WDW *HJHQ 0RUJHQ ULWWHQ ZLU ORV KLQWHU XQV HLQ OHLFKWHU :DJHQ PLW VHFKV 6NODYLQQHQ XQG 6NODYHQ 6LH ZDUHQ QRFK LPPHUEHUUDVFKWDOVZLUGDVJURH+DXVGHU)DPLOLHGH$YDUUDHUUHLFKWHQ8QGVFKRQDPQlFKVWHQ 0RUJHQKDWWHLFKHLQJXWHUKDOWHQHV+DXVPLWJURHP*DUWHQYLHOHQ%lXPHQHLQHPNODUHQ%UXQQHQ XQG VFK|QHQ KHOOHQ =LPPHUQ JHPLHWHW 0LW GHU +LOIH GHU IUHLHQ 6NODYHQ EHJDQQ LFK HV HLQ]XULFKWHQ ,FKKROWHGHQ*OHLWHUULHIGHQ]ZHLWHQ%HKlOWHUDEXQGVFKOHSSWHDOOHPHLQH$XVUVWXQJLQV+DXV 'UHL 7DJH VSlWHU ZDU DOOHV EHVWHQV HLQJHULFKWHW XQG LFK KDWWH GXUFK (LQODGXQJHQ JH]LHOWH %HVWHFKXQJ XQG /LHEHQVZUGLJNHLW GLH ZLFKWLJVWHQ 0lQQHU YRQ 6HYLOOD ]X PHLQHQ )UHXQGHQ JHPDFKW,FKEHJDQQPLFKQRFKZRKOHU]XIKOHQ 6KDUPD XQG 6VDFKDQ\ GLH EHLGHQ MXQJHQ )UDXHQ EHVRUJWHQ GHQ +DXVKDOW VlXEHUWHQ GHQ *DUWHQ XQG NRFKWHQ YRU]JOLFK $JVDFKD EUDXFKWH ZHVHQWOLFK OlQJHU XP VHLQHQ JHKHW]WHQ *HVLFKWVDXVGUXFN]XYHUOLHUHQ HUWUDXWHGHQ8PVWlQGHQJDQ]XQGJDUQLFKW-HGHQIDOOVPLHWHWHLFK HLQHQ /HKUHU GHU LKQHQ /HVHQ XQG 6FKUHLEHQ EHLEUDFKWH 6LH VWU]WHQ VLFK PLW HLQHP ZDKUHQ )HXHUHLIHUGDUDXI ,FK ULFKWHWH PHLQHQ 5DXP HLQ XQG YHUJUXE DOOHV ZDV XQHUVHW]OLFK ZDU KLQWHU HLQHU 0DXHU LP .HOOHU 'DQQNRQQWHLFKHLQHQ6FKULWWZHLWHUJHKHQ (LQHV 0RUJHQV WDXFKWH LFK LQ GHU :HUIW GHU )DPLOLH GH $YDUUD DXI 'LHJR XQG VHLQ 9DWHU 5RMDV DUEHLWHWHQLQPLWWHQHLQHUNOHLQHQ*UXSSHYRQ+DQGZHUNHUQ,FKWUXJGLH3OlQHIUGDV6FKLIIEHLPLU XQGJULQVWHEUHLWDOVGLHEHLGHQDXIPLFK]XNDPHQXQGPLUGLH+DQGVFKWWHOWHQ ª:DVIKUW(XFKLQXQVHUHNOHLQH:HUIW"©IUDJWHGHUDOWH$YDUUD ª(LQ $XIWUDJ 5RMDV© VDJWH LFK ª.|QQW ,KU HLQ 6FKLII EDXHQ" (LQ 6FKLII GHVVHQ 3OlQH LFK
JH]HLFKQHWKDEH"© 9LHU$XJHQVWDUUWHQPLFK]ZHLIHOQGDQ:LUJLQJHQLQHLQIODFKHV+DXVLQGHPHVQDFK7HHUXQG +RO]URFKXQGVHW]WHQXQVDXI6WKOHGLHPLW6lJHPHKOXQG6SlQHQEHGHFNWZDUHQ 6LH ZXWHQ YRQ PHLQHP 9RUKDEHQ $EHU VLH WUDXWHQ PLU NDXP ]X DXFK QXU GLH 8PULVVH HLQHV 6FKLIIHVULFKWLJ]HLFKQHQ ]XN|QQHQ,FKUROOWHGHQHUVWHQ3ODQDXIXQGVWULFKLKQDXIGHP7LVFKJODWW ª:LHYLHO7RQQHQ"©IUDJWH5RMDV ª6LHE]LJELVDFKW]LJ©VDJWHLFKª9HUVWHKW,KUGLHVHQ3ODQ"© (UZDUYRQPDWKHPDWLVFKHU.ODUKHLWXQGHLQHU/RJLNGLHEHUGLHELVKHUEOLFKHQ9RUVWHOOXQJHQ KLQDXVJLQJ(VZUGHGDVVFKQHOOVWHXQGXQJHZ|KQOLFKVWH6FKLIIVHLQGDVMH6HYLOODYHUODVVHQXQG EHUGHQ*XDGDOTXLYLUJHVHJHOWZDU/DQJHVWXGLHUWHQGLHEHLGHQ0lQQHUGHQ3ODQGDQQVDJWHQVLH ZLHDXVHLQHP0XQG ª:LUKDEHQQRFKQLHHLQVROFKHV6FKLIIJHVHKHQ$WODQGH$UFRQ© ª'DVNDQQLFKYHUVWHKHQ,FKVDKVROFKH6FKLIIHXQGVLHVHJHOWHQDOOHQDQGHUHQGDYRQ.|QQW,KU HVEDXHQ"© ª:LUEUDXFKHQHLQ-DKUGD]X© ª,KU KDEW HV VLFKHU IUKHU IHUWLJ ² DEHU LFK ZHL QRFK QLFKW JHQDX ZDQQ LFK HV EUDXFKH (V LVW ZLFKWLJGD,KUGDV6FKLIIVREDXWZLHHVKLHUJH]HLFKQHWLVW1LFKWDQGHUV8QGLFKZHUGH(XFKHLQ SDDUQHXH7HFKQLNHQ]HLJHQ²LFKKDEHVLHVHOEVWHUVWOHUQHQPVVHQ²GLHGLHVHV%RRW]XHLQHP 0HLVWHUZHUNZHUGHQODVVHQ© 5RMDVZDQGWHVLFKODFKHQGDQVHLQHQ6RKQGHULQ]ZLVFKHQGLHDQGHUHQ3OlQHVWXGLHUWHXQGVDJWH ª'HLQ)UHXQG'LHJRZLOOYLHOOHLFKWGLH:HOWYRU0DJDOKmHVXPVHJHOQ(UJODXEWVLHVHLZLUNOLFK UXQG© ,FKVWXW]WH ª0DJDOKmHV"©IUDJWHLFK ª(LQDEJHPXVWHUWHUYHUELWWHUWHU3RUWXJLHVH6LHHU]lKOHQHVLQGHQ6FKlQNHQ$WODQ:LUEDXHQGDV 6FKLIIDEHUHVZLUGWHXHU© ª:LHYLHO"© (UQDQQWHHLQH]LHPOLFKKRKH6XPPH,FKZLOOLJWHHLQDEHULFKZUGHLKQHQGLH$UEHLWNHLQHVZHJV OHLFKWPDFKHQ,FKEUDXFKWHGDVEHVWH6FKLIIGDVVLFKKLHUEDXHQOLH'LHJRVFKWWHOWHIDVVXQJVORV GHQ.RSIXQGIUDJWHQDFKHLQHUODQJHQ:HLOH ª:DVKDEW,KUZLUNOLFKYRU$WODQ"© ,FKOHKQWHPLFK]XUFNXQGHUJULIIGHQ%HFKHUGHQ5RMDVJHIOOWKDWWH'DQQVDJWHLFK ª,FKZHUGHHLQHODQJH5HLVHXQWHUQHKPHQ6LHVROOPLFKDQ DOOHVFK|QHQXQGDXIUHJHQGHQ.VWHQGLHVHU:HOWIKUHQ,FKEUDXFKHGD]XHLQH0HQJHWROONKQHU )UHXQGH QRFK PHKU ZDJHPXWLJH ,GHHQ HLQH HUVWNODVVLJH 0DQQVFKDIW XQG =HLW 8QG GLHVHV 6FKLII KLHU:ROOW,KUPHLQ6WHXHUPDQQVHLQ'LHJR"© ª'DV©VDJWHHUOHLVHXQG]|JHUQGªZlUHHLQHhEHUOHJXQJZHUW$EHULQ]ZLVFKHQORFNWPLFKGLH $XIJDEH 6LH ZHUGHQ ]ZDU ODFKHQ DOOH 6HHIDKUHU YRQ 6HYLOOD DEHU ZLU EDXHQ GDV 6FKLII ,KU KDEW PLFKDQJHVWHFNWGH$UFRQ,Q6HYLOODYHUVWHKWPDQQlPOLFKHWZDVYRQ6FKLIIHQXQG6FKLIIEDX© ,FKVWDQGDXI ª:DVKDEW,KUMHW]WYRU"© ª,FKZHUGHPLFKLQGHQ6FKHQNHQXPK|UHQQDFKMHQHP0DJDOKmHV8QGGDQQZlKUHQG,KUGDV 6FKLIIEDXWZHUGHLFKPLW6KDUPDHLQHZHLWH5HLVHWXQ+RFKLQGHQ1RUGHQGLHVHV.RQWLQHQWV© 'DVHUVWH9RUKDEHQNRQQWHLFKEHUHLWVDPVHOEHQ$EHQGZDKUPDFKHQ,FKVDPLW$JVDFKDLQGHU UDXFKHUIOOWHQ+DIHQVFKHQNH$XIPHUNVDPEOLFNWHLFKPHLQ*HJHQEHUDQ,QGHQZHQLJHQ7DJHQ GLH ZLU KLHU LQ 6HYLOOD ZDUHQ KDWWH HU VLFK ODQJVDP XQG JUQGOLFK JHlQGHUW $JVDFKD ZDU IDVW VR JUR ZLH LFK ZHVHQWOLFK EUHLWHU LQGHQ 6FKXOWHUQ XQG DOV LFK ]XJHVHKHQ KDWWH ZLH HU HLQHQDOWHQ KDOE]HUVSUXQJHQHQ 0KOVWHLQ DXV PHLQHP *DUWHQ JHUROOW KDWWH ZDU LFK DXFK EHU]HXJW HLQHQ XQJHZ|KQOLFKNUlIWLJHQ0DQQJHIXQGHQ]XKDEHQ$XVGDXHUXQGHLQHJHZLVVHZRUWORVHRGHUEHVVHU ZRUWDUPH ,QWHOOLJHQ] ]HLFKQHWHQ LKQ DXV *URH GXQNHOEUDXQH $XJHQ XQWHU ODQJHP VFKZDU]HP
+DDU LP 1DFNHQ ]X HLQHP NOHLQHQ .QRWHQ ]XVDPPHQJHEXQGHQ (LQH NUlIWLJH 1DVH HLQ VFKPDOOLSSLJHU 0XQG EHU SUlFKWLJHQ =lKQHQ (LQ VFKPDOHV XQG ODQJHV *HVLFKW XQG VFKDUI YRUVSULQJHQGH%DFNHQNQRFKHQEHUHLQHPMXQJHQZXFKHUQGHQ%DUWYRQ2KU]X2KU ª+HUU$WODQ©EHJDQQHUª,KUPLFKJHNDXIW,FKQXQIUHL,FKOHUQHVSUHFKHQOHVHQXQGVFKUHLEHQ ,FKELQ$JVDFKDHLQ0DQQDXV6GHQ:DUXP,KUWXWZDVDQGHUHQLFKWWXQ"© ,FKHQWJHJQHWH ª:HLO LFK HLQ IUHLHU 0DQQ ELQ XQG 8QIUHLKHLW KDVVH ,FK NDQQ QLFKW DOOH 6NODYHQ NDXIHQ XQG IUHLODVVHQ$EHULQGHQ)lOOHQLQGHQHQLFKKHOIHQNDQQWXHLFKHV,FKKRIIHLFKZHUGHGDIUQLFKW EHWURJHQ© $JVDFKDQDKPHLQHQWLHIHQ6FKOXFNDXVGHP%HFKHUXQG VDJWHOHLVH ª,KU +HUU $WODQ PHLQ )UHXQG ,FK (XHU )UHXQG ,KU VHJHOW ]XP (QGH YRQ :HOW LFK VHJOH PLW (XFK© ª5HFKW VR© YHUVLFKHUWH LFK WURFNHQ ª'LH *HOHJHQKHLW ZLUG VLFK VFKQHOOHU ELHWHQ DOV GX HV HUZDUWHVW8QGJHZ|KQHGLUGDV!+HUU DEMD"© ª,KUPHLQ+HUU©VDJWHHUPLWXQHUVFKWWHUOLFKHU5XKH,FKKRUFKWHLQ]ZLVFKHQKHUXPXQGZDUWHWH RE LFK HWZDV YRQ HLQHP SRUWXJLHVLVFKHQ 6HHIDKUHU K|UWH GHU GLH :HOW XPVHJHOQ ZROOWH (V KDWWH YLHOH 9HUVXFKH JHJHEHQ ]X EHZHLVHQ GD GLHVHU 3ODQHW NHLQH 6FKHLEH VRQGHUQ HLQH .XJHO ZDU DEHU GHU 9HUVXFK GHV PLU 8QEHNDQQWHQ ZUGH HLQH QHXH DXIUHJHQGH *HVFKLFKWH GHU (QWGHFNXQJ HLQOHLWHQ 6FKOLHOLFK EHPHUNWH LFK HLQHQ ]DKQORVHQ 6HHPDQQ GHU QRFK 6DO] LP +DDU ]X KDEHQ VFKLHQ ,FK VHW]WH PLFK QHEHQ LKQ XQG ZLQNWH GHU 0DJG 6LH EUDFKWH ]ZHL +XPSHQ YROOHU :HLQ (LQH6WXQGHVSlWHUZLQNWHLFK$JVDFKDXQGZLUYHUOLHHQGLH6FKHQNH,FKZXWHZDVLFKZLVVHQ ZROOWH8QGLFKPXWHIUHLQHODQJH5HLVHUVWHQ 'DV6FKODJZRUWKLH7HUUDLQFRJQLWDDXVWUDOLV XQEHNDQQWHV/DQGZHLWLP6GHQ(VJDE.DUWHQ GHUHQ .VWHQOLQLHQ XQG /HJHQGHQ ZDKUH 6FKDXHUPlUFKHQ GDUVWHOOWHQ HV JDE GHQ 9HUVXFK GLH .DUWHQ ULFKWLJ DXI HLQHQ ª(UGDSIHO© ]X SURML]LHUHQ 8QG HLQ 0DQQ QDPHQV 0DJDOKmHV GHU PLW HLQHP VXVSHNWHQ $VWURORJHQ QDPHQV )DOHLUR ]XVDPPHQDUEHLWHWH KDWWH HLQH .DUWH YRQ 0DUWLQ %HKDLPHLQHP1UQEHUJHUDXVGHP)UDQNHQODQGLQGHU+RIELEOLRWKHNYRQ/LVVDERQHQWGHFNW6LH ]HLJWHDQJHEOLFKHLQH'XUFKIDKUWLPVGOLFKHQ.RQWLQHQWGHUª1HXHQ:HOW© ,FKZXWHHVEHVVHU 8QGLP$XJHQEOLFNJDEHVQXUHLQHQ0DQQ]ZLVFKHQ1RUGSROXQGQRUGDIULNDQLVFKHU:VWHGHULQ GHU/DJHZDUPLW+LOIHGHV%XFKGUXFNVXQGVHLQHU,GHHQHLQHUJURHQ0HQJHZLFKWLJHU0HQVFKHQ NODU]XPDFKHQ GD GLHVHU 3ODQHW HLQHU YRQ QHXQHQ ZDU LQ HLQHP 6RQQHQV\VWHP NUHLVWH XQG YRQ JHZLVVHQ.UlIWHQDXIHLQHUVHKUEHVWLPPWHQ%DKQJHKDOWHQZXUGH ,FKODFKWHODXWZlKUHQGZLUGXUFKGLH1DFKWXQVHUHPKHOOHUOHXFKWHWHQ+DXVHQWJHJHQJLQJHQ ª:DUXPODFKWPHLQ+HUU"©IUDJWH$JVDFKDDXIJHUHJW ª,FKVWHOOHPLUJHUDGHGDV*HVLFKWHLQHV0DQQHVYRUGHP LFKHLQHODQJHVSDQQHQGH*HVFKLFKWHHU]lKOHXQGVLHPLW%LOGHUQEHZHLVH©VDJWHLFK (VZDUWURW]DOOHPHLQGHOLNDWHV8QWHUQHKPHQ 'LH.LUFKHGLHDQGHQ,GHHQGHV3WROHPlXVIHVWKLHOWOLHNDXPPLWVLFKVSDHQ $EHU5RPZDUVHKUZHLW 7+251GDV6WlGWFKHQLQGHP0HLVWHU1LNRODXV.RSHUQLNXVOHEWHXQGIRUVFKWHHUUHLFKWHQZLUDP (QGHHLQHUODQJHQLQWHUHVVDQWHQ5HLVHGLHXQVLQYLHOHZLFKWLJHXQGSUlFKWLJH6WlGWHJHIKUWKDWWH 0HLQ*HOGXQGPHLQ$XIWUHWHQGLH6FK|QKHLWGHV0lGFKHQV6KDUPDXQGLKUHH[RWLVFKH$UWKDWWHQ XQV HLQH 0HQJH =ZLVFKHQIlOOH YRQ PHLVW K|FKVW UHL]YROOHU $UW EHVFKHUW :LU NDQQWHQ MHGHQIDOOV HLQHQ UHSUlVHQWDWLYHQ 4XHUVFKQLWW GXUFK .XOWXU XQG =LYLOLVDWLRQ GHU YLHOHQ 6WDDWHQ ]ZLVFKHQ GHP
Q|UGOLFKHQ 3RODUNUHLV XQG GHP VGOLFKHQ 5DQG GHV %LQQHQPHHUHV 9RQ .UDNDX DE ZDUHQ ZLU GLH :HLFKVHO KLQDE JHIDKUHQ XQG DOV GDV NOHLQH IODFKJHKHQGH 6FKLII LQ 7KRUQ DQOHJWH EHJDQQ GLH 1DFKW 6HLW GHP $XIEUXFK LQ 6HYLOOD ZDU ZHQLJHU DOV HLQ KDOEHV -DKU YHUJDQJHQ 0HUNZUGLJ GDFKWHLFKDOVZLUGLH6WDGWEHWUDWHQ²HVULHFKWDOVREPDQ/HLFKHQYHUEUHQQHQZUGH$XFKILHO PLUHLQHJHZLVVHQHUY|VH8QUXKHGHU%HY|ONHUXQJDXI
0HLQGHXWOLFKHU9RUWHLOZDUGDLFKGLH6SUDFKHQGHU/lQGHUGLHZLUEHUHLVWKDWWHQ]LHPOLFKJXW EHKHUUVFKWH 6KDUPD EHJULII YLHOHV DEHU HV ZDU LKU XQP|JOLFK ]XJOHLFK 6SDQLVFK ,WDOLHQLVFK )UlQNLVFK XQG 3ROQLVFK ]X OHUQHQ ² GDV EHUVWLHJ VHOEVW PHLQH )lKLJNHLWHQ ,FK GDFKWH DQ GLH +\SQRVFKXOXQJHQ LQ GHU 7LHIVHHNXSSHO XQG IUDJWH HLQHQ 0DQQ GHU ]ZHL VFKZHUH $FNHUJlXOH IKUWH ª:LUVXFKHQHLQHQ*DVWKRILQGHPHVVLFKJXWOHEHQXQGVFKODIHQOlW© 'HU0DQQIXKUPLWGHP(QGHGHV3HLWVFKHQVWLHOVEHUVHLQNUDW]LJHV.LQQXQGVDJWH ª*HKWLQGHQ!.UXJ ,KUZROOWVLFKHU]X0HLVWHU.RSHUQLNXV"© ª6RLVWHV©VDJWHLFKª:RILQGHLFKGHQ.UXJ"© (U EHVFKULHE XQV GHQ :HJ XQG ODQJVDP JLQJHQ ZLU EHU GLH UXQGHQ .|SIH GHU JHSIODVWHUWHQ +DXSWVWUDH(VURFKVWlUNHUQDFK$VFKHXQGNDOWHP5DXFK(LQLJHJUXQ]HQGH6FKZHLQHMDJWHQEHU GLH6WUDHHLQH6FKDUGLFNHU*lQVHZDWVFKHOWHYRUEHLPLWGHQODQJHQ+lOVHQSHQGHOQG1XUZHQLJH +lXVHU ZDUHQ EHOHXFKWHW (LQ 0DUNWSODW] |IIQHWH VLFK KLQWHU HLQHP *HUVW UHFKWV YRP %UXQQHQ HUKRE VLFK GLH .LUFKH PLW GHP UXQGHQ 3RUWDO DOOH GLH %LOGHU NDQQWH LFK YRQ GHQ 6FKLUPHQ GHU .XSSHO 6FKOLHOLFK HQWGHFNWH LFK DXFK GHQ ª.UXJ© HLQ OHLGOLFK VFK|QHV *DVWKDXV DXV GHVVHQ .FKH HV YHUORFNHQG URFK 'XQNOH :RONHQ ]RJHQ DQ GHU VFKDUIHQ 0RQGVLFKHO YRUEHL DOV LFK IDVW PLWGHP:LUW]XVDPPHQVWLHGHUDXVGHU7U VFKRXQGGLH7UHSSHKLQXQWHUVSUDQJ'HU0DWURVH GHV6FKLIIHVVWHOOWHXQVHU*HSlFNDEXQGLFKHQWORKQWHLKQ ª(LQJURHVKHOOHV=LPPHU©VDJWHLFKª8QGJXWHV(VVHQ+DEW,KUZDVZLUEUDXFKHQ"© ª'DVXQGQRFKPHKU©ULHIGHU:LUWGHUDQGHU+|KHGHV7ULQNJHOGHVXQGDQXQVHUHP$XI]XJVDK GDHUHLQ*HVFKlIWPDFKHQNRQQWHª,KUEHNRPPWGDV=LPPHUKLQWHUGHP$ONRYHQ© ª:LHVFK|Q²]HLJWHVXQV© 'HU:LUWIKUWHXQVKLQDXIEHUNQDUUHQGH7UHSSHQLQHLQJURHVQLHGULJHV=LPPHUPLWZHLHQ :lQGHQXQGDOWHUVVFKZDU]HQ%DONHQ'HU$ONRYHQ|IIQHWHVLFK]XP0DUNW(LQ]HOQH)DFNHOQXQG HUOHXFKWHWH)HQVWHULQGHQ%UJHUKlXVHUQZXUGHQVLFKWEDUDOVGHU:LUWGLH)HQVWHUDXIVWLH ª,KU KDEW GHQ EHVWHQ 3ODW]© VDJWH HU XQG IXFKWHOWH PLW GHQ $UPHQ (U YHUVWU|PWH HLQHQ GXUFKGULQJHQGHQ*HUXFKQDFK:DFKROGHUVFKQDSVXQG5lXFKHUILVFK,FKVDKPLFKLP=LPPHUXP GHXWHWHDXIGHQ.DPLQYRUGHPVFKZHUH%XFKHQVFKHLWHJHVWDSHOWZDUHQXQGVDJWH ª%HVWHU3ODW]²ZRIU"© ª:LW,KUHVQLFKW"0RUJHQZLUGGLH7RFKWHUYRQ*HYDWWHULQ*HVLQHDOV+H[HYHUEUDQQW6LHKDW JHVWDQGHQ© ,FKKREGLH6FKXOWHUQXQGVFKZLHJ GDKHUDOVR%UDQGJHUXFKXQGGLH6WLPPXQJLP2UW9LHOOHLFKW NRQQWHLFKHLQJUHLIHQ9HUPXWOLFKQLFKW²ZDVNRQQWHLFKDXVULFKWHQJHJHQHLQHQ2UW YROOHU 0HQVFKHQ" ,FK IUDJWH QDFK GHP +DXV LQ GHP 0HLVWHU 1LNRODXV DUEHLWHWH XQG VDJWH GHP +DXVNQHFKWZRKLQGLH*HSlFNVWFNHJHK|UWHQ'HU:LUWEHVFKULHEPLUGHQ:HJXQGYHUOLHGDQQ GDV=LPPHU'LH7UVFKORVLFK ª:DVWXQGLHVH0HQVFKHQ"©IUDJWH6KDUPD ª,FK HU]lKOH HV GLU VSlWHU (V LVW IXUFKWEDU 6LH VLQG DOOH ZDKQVLQQLJ GLHVH %DUEDUHQ© PXUPHOWH LFK/DQJVDPSDFNWHLFKGHQVFKPDOHQJURIRUPDWLJHQ8PVFKODJDXVXQGVDKDXIGLHNOHLQH8KULQ PHLQHP5LQJ(VZDUQRFKJHQJHQG=HLW.RSHUQLNXVDXI]XVXFKHQ'HU*HSDUGODJZDFKVDPYRU GHP)HXHU ª6FDUURQ'XEHZDFKVW6KDUPD©VDJWHLFK'DVNQVWOLFKH7LHUIDXFKWHXQGEHJULII VROOWHMHPDQG ]X VWHKOHQ YHUVXFKHQ RGHU GDV 0lGFKHQ EHOlVWLJHQ JULII 6FDUURQ EOLW]VFKQHOO HLQ ,FK VWHFNWH GLH
5HLWHUSLVWROHHLQQDKPGHQ8PVFKODJXQG]RJGLH+DQGVFKXKHDQ ª%HVWHOOH HLQ OHLFKWHV (VVHQ XQG HLQHQ .UXJ :HLQ IU XQVEHLGH ² LQ GUHL YLHU 6WXQGHQ ELQ LFK ZLHGHUKLHU© ª%OHLEHQLFKW]XODQJH$WODQ©VDJWHVLHHWZDVlQJVWOLFK ª,FKELQEDOGZLHGHUKLHU²XQGGDQQ ]XUFNQDFK6HYLOOD©VDJWHLFKOHLVHXQG|IIQHWHGLH7U ,KUH $XJHQ OHXFKWHWHQ DXI 6HOEVW LQ GHU SUDNWLVFKHQ 5HLVHNOHLGXQJ GHUHQ HLQ]HOQH 6WFNH DXV YLHOHQ YHUVFKLHGHQHQ 6WlGWHQ VWDPPWHQ VDK VLH KLQUHLHQG DXV ,FK YHUOLH GHQ *DVWKRI XQG JLQJ YRUVLFKWLJXQGZDFKVDPEHUGHQ3ODW]KLQEHU]XGHUNOHLQHQ*DVVH8PGHQGLFNHQ+RO]VWDPP ZDUHQ 5HLVLJEQGHO XQG 6FKHLWH JHVWDSHOW GDUEHU HUKRE VLFK HLQH NOHLQH 3ODWWIRUP (V VWDQN ZLGHUZlUWLJXQGHLQ+XQGVWULFKNQXUUHQGXPGHQ6WRKHUXP,FKJLQJ]ZLVFKHQGHQHQJEUVWLJHQ +lXVHUQ KLQGXUFK EHUTXHUWH HLQH PRUDVWLJH :LHVH JLQJ DQ HLQHP YHUIDOOHQHQ =DXQ YRUEHL XQG HUUHLFKWH VFKOLHOLFK GDV EH]HLFKQHWH +DXV 1XU KLQWHU HLQLJHQ )HQVWHUQ LP REHUHQ 6WRFN EUDQQWHQ .HU]HQ 'HU +LPPHO ZDU GXQNHO XQG EHZ|ONW VWHUQORV XQG .RSHUQLNXV ZUGH KHXWH NHLQH DVWURQRPLVFKHQ %HREDFKWXQJHQ PDFKHQ N|QQHQ $XI PHLQ EHKDUUOLFKHV .ORSIHQ KLQ |IIQHWH HLQH EXFNOLJH)UDXXQGIUDJWHPLWKHLVHUHUDOWHU6WLPPHZDVLFKZROOH ª6DJW GHP 0HLVWHU HLQ ZHLWJHUHLVWHU 0DQQ DXV GHP 6GHQ P|FKWH PLW LKP EHU GHQ DFKWHQ 3ODQHWHQVSUHFKHQ© 6LHQLFNWHZLQNWHPLUXQGNXU]GDUDXIVWDQGLFKLQHLQHPJURHQ=LPPHUPLW]XP7HLOVFKUlJHQ :lQGHQGHVVHQ*H PWOLFKNHLWNDXP]XEHUWUHIIHQZDU(VKDQGHOWHVLFKXPGHQ$UEHLWVUDXPHLQHV0DQQHVGHVVHQ :HOWELOG ZHLWDXV XPIDQJUHLFKHU DOV GDV DOOHU VHLQHU =HLWJHQRVVHQ ZDU (U VWDQG KLQWHU HLQHP PLW )ROLDQWHQ EHUVlWHQ 7LVFK DXI 9LHOH .HU]HQ EUDQQWHQ HV URFK QDFK VWRFNIOHFNLJHP 3DSLHU QDFK 6FKZHLQVOHGHUHLQElQGHQQDFK+RO]XQGQDFK5DXFK ª:LOONRPPHQ© VDJWH .RSHUQLNXV ª,FK KDEH JHK|UW ZDV ,KU GHU +DXVKlOWHULQ JHVDJW KDEW (LQ DFKWHU3ODQHW²GDVLVWZRKOGDV6LQQORVHVWHZDVLFKMHJHK|UWKDEH© ,FK VFKWWHOWH VHLQH +DQG KRE HLQHQ 6WDSHO DVWURORJLVFKH %HUHFKQXQJHQ YRQ HLQHP 6WXKO XQG VHW]WH PLFK 6FKZHLJHQG SDFNWH LFK DXV ZDV LFK PLWJHEUDFKW KDWWH (U VDK PLFK DEZDUWHQG DQ PLWUDXLVFKXQGHWZDVYHUZXQGHUW(UZDU$VWURQRPXQG$VWURORJH]XJOHLFK'LH:lQGHZDUHQPLW +RURVNRSHQEHUVlWPLW/LQLHQ XQGPLWJH]HLFKQHWHQ 6WHUQELOGHUQ/DQJVDPUDQQ 6DQGGXUFK HLQ 6WXQGHQJODV,P.DPLQNQLVWHUWHQGLH6FKHLWH ,FKVDJWH ª,FK NRPPH DXV 6SDQLHQ 0HLQ 1DPH LVW $WODQ GH *RQR]DO \ $UFRQ XQG LFK P|FKWH PLW (XFK GLVNXWLHUHQ:DVLFKKLHULQ+lQGHQKDOWHVLQG%HZHLVHIUHLQH:LVVHQVFKDIWDXIGHUHQ:HJ,KU JHUDGH GLH HUVWHQ 6FKULWWH XQWHUQHKPW ,KU ZLW GD VLFK GLH 3ODQHWHQ DXI NUHLVQDKHQ (OOLSVHQ XP GLH6RQQHGUHKHQ"© ª,FKGHQNHHVEHZHLVHQ]XN|QQHQ©VDJWHHUª8QGLFKJODXEHGDGLH(UGHUXQGLVW© ,FKYHUVLFKHUWHJULPPLJ ª(LQ 0DQQ GHU LQ NXU]HU =HLW ]XP :HUN]HXJ GHU *HVFKLFKWH ZLUG RKQH HV ]X DKQHQ ZLUG GLH .XJHOJHVWDOW GHU (UGH EHZHLVHQ (U ZLOO QDFK :HVWHQ VHJHOQ XQG DXV GHP 2VWHQ ZLHGHU ]XUFNNRPPHQ9LHOHDQGHUHKDEHQbKQOLFKHVYHUVXFKWHLQLJHPLWPDQFKHRKQH(UIROJ8QGLFK ZHUGH YRU LKP KHUVHJHOQ $EHU K|UW ]XHUVW ZDV LFK (XFK EHULFKWH 1HXQ 3ODQHWHQ PLW LQVJHVDPW YLHU]LJ0RQGHQXPNUHLVHQGLH6RQQHGLHLP0LWWHOSXQNWVWHKW© 'DQQVHW]WHHLQHODQJHHUVFK|SIHQGH'LVNXVVLRQHLQ ,FK OHJWH LKP VWHUHRVNRSLVFKH 3KRWRJUDSKLHQ GHU 3ODQHWHQ YRU GLH YRQ GHU $5.21)ORWWH DQJHIHUWLJW ZRUGHQ ZDUHQ ,FK YHUVXFKWH LKP GLH %HJULIIH =HQWULSHWDONUDIW 0DVVHQDQ]LHKXQJ XQG =HQWULIXJDONUDIW]XHUNOlUHQ:LUUHFKQHWHQXQGVFKULHEHQ YLHO 3DSLHU YROO 8QVHUH 'HEDWWH ZXUGH HUKLW]WHU ZLU WUDQNHQ OHLFKWHQ :HLQ ZLU UHGHWHQ ZLGHUVSUDFKHQHLQDQGHU]RJHQYRQ$ULVWRWHOHVEHU3WROHPlXVDOOH*HOHKUWHQKHUDQLFKEHULFKWHWH LKP EHU GLH ZDKUH 1DWXU GHV .RVPRV XQG LFK NRQQWH VHLQH 6NHSVLV QLFKW QLHGHU]ZLQJHQ 'LH NRVPRORJLVFKHQ .HQQWQLVVH HLQHU UDXPIDKUHQGHQ 5DVVH XQG GLHMHQLJHQ HLQHV $VWURORJHQ YRQ GHQ -DKUHQXPDXIGLHVHPZLOGHQ3ODQHWHQHVJDEQXUZHQLJH%HUKUXQJVSXQNWH
ª,KUJODXEWHVQLFKW"©IUDJWHLFKXQGGHXWHWHDXIGLH.XJHOQXQG.UHLVOLQLHQGLHLQYHUVFKLHGHQHQ 3HUVSHNWLYHQGDV1HXQ3ODQHWHQ6\VWHPYHUVLQQELOGOLFKWHQ ª,FK YHUPDJ HV QLFKW ]X JODXEHQ© VDJWH 0HLVWHU 1LNRODXV ª:LU NHQQHQ QXU GHQ 6DWXUQ GHQ VHFKVWHQ3ODQHWHQ8QGDOOHVGLHVH%LOGHU© ,FKGDFKWH GLHRKQHKLQQDFKWDXVHQG7DJHQYHUEODVVHQZHUGHQZLHYLHOHDQGHUH=HLFKQXQJHQ 3KRWRVXQG.DUWHQ ªLFKPXHVVHKHQHVHUWDVWHQHUIDVVHQN|QQHQ8QGEHUHFKQHQ$EHULFKJODXEHGDVLFKGLH 3ODQHWHQXPGLH6RQQHGUHKHQXQGGDVLFKGHU0RQGXPGLH(UGHEHZHJW $EHU (XUH :HWWH GH $UFRQ ,KU ZROOW YRU GLHVHP ,UUHQ GLHVHP 0DJDOKmHV XP GLH :HOW VHJHOQ" ,KU ZHUGHW LQ YLHOHU +LQVLFKW 6FKLIIEUXFK HUOHLGHQ ,KU ZHUGHW NHLQH GHU IHUQHQ .VWHQ ILQGHQ© ,FKVDJWH ª:HWWHQ ZLU ,KU 0HLVWHU 1LNRODXV .RSHUQLNXV ZHUGHW PLW (XUHU .XQVW EHZHLVHQ ZLH VLFK GDV 8QLYHUVXPGUHKW8QGLFKZHUGH(XFKEHZHLVHQGDGLH(UGHUXQGLVWXQGGDPDQDXIYLHOHUOHL :HLVH]ZLVFKHQGHQJURHQ6FKROOHQGHU.RQWLQHQWHXPGLH(UGHIDKUHQNDQQXQGGDPHLQ6FKLII HLQHQ7DJIUKHUDQNRPPWDOVHVDQNRPPHQPWH+DOWHW,KUGLHVH:HWWH"© .RSHUQLNXVVDKKLQDXVDXVGHP)HQVWHU(VZDUQRFKLPPHUVHKUGXQNHO:RONHQWULHEHQYRUGHP 0RQG GDKLQ ZLH JDORSSLHUHQGH 3IHUGH 'HU 5DXP HLQH =HOOH GHU DXINHLPHQGHQ 9HUQXQIW XQG (UNHQQWQLV ZDU ZDUP XQG URFK (U URFK QDFK YLHOHQ 0DWHULDOLHQ DEHU GD ZDU QRFK HWZDV 'HU *HUXFK YRQ .ODUKHLW ZHQQ HV GDV JDE (LQ QHXHU $EVFKQLWW LQ GHU *HVFKLFKWH GLHVHU :HOW NRQQWH KLHU VHLQHQ VFKQHOOHQ /DXI EHJLQQHQ XQG HUIDKUXQJVJHPl EHUVWU]WHQ VLFK GLH OHW]WHQ 6FKULWWH $XIGLHVHOHW]WHQ6FKULWWHPXWHLFKZDUWHQ:LHODQJHZRKO",FK VWDQG DXI XQG JLQJ ]|JHUQG ]ZLVFKHQ GHP .DPLQ XQG GHU 7U KLQ XQG KHU 'LH .HU]HQIODPPHQ IODFNHUWHQ PHKUPDOV QDFK OLQNV ]XHUVW GDQQ QDFK UHFKWV VFKOLHOLFK OLHIHQ GLFNH :DFKVWURSIHQ KHUXQWHU+DOEODXWVDJWH.RSHUQLNXV ª,KUPWZLVVHQGH$UFRQGDDOOH:HLVKHLWXQG(UNHQQWQLVLKUH=HLWEUDXFKW+LHUJHKHLFKGLH HUVWHQ6FKULWWH$QGHUH0lQQHUZHUGHQGLHQlFKVWHQ6FKULWWHJHKHQ,FKYHUPDJQXUGLH5LFKWXQJ]X ]HLJHQ²QLFKWPHKU© ,FKQLFNWH'DVZDUHQGLHNOXJHQ$UJXPHQWHHLQHVNOXJHQ0DQQHV,FKNRQQWHQLFKWVDQGHUHVWXQ DOVVLHDN]HSWLHUHQ ,FKNRPPH]XUFN²QDFKMHQHQWDXVHQG7DJHQ©YHUVSUDFKLFKª*LOWGLH:HWWH"© ª'LH :HWWH JLOW© VDJWH .RSHUQLNXV KHLVHU ª,KU ZHUGHW PRUJHQ GLHVHV XQZUGLJH 6SHNWDNHO PLWDQVHKHQ"© ª0LW6FKDXGHUQ.DQQKLHU(XUH.OXJKHLWQLFKWVlQGHUQ"© (UVDJWHPLWEHUUDVFKHQGHU+lUWHQXUHLQ:RUW ª1HLQ© 9HUZLUUWXQGEHWlXEWYHUOLHLFKGDV+DXVXQGWDVWHWHPLFKGXUFKGLHGXQNOHQ*DVVHQ]XUFN]XP 0DUNWSODW] $OOHV ZDU VWLOO XQG GXQNHO 1HXQ 8KU ODV LFK DQ GHQ ZLQ]LJHQ /HXFKW]LIIHUQ DE ,FK KDWWH GDV *HIKO HLQHQ ]LHPOLFK JURHQ 6FKULWW ZHLWHUJHNRPPHQ ]X VHLQ 1DFK ZHLWHUHQ ]HKQ 6FKULWWHQ K|UWH LFK HLQ .QDUUHQ GDQQ VFKOXJ GLH .LUFKHQJORFNH DQ 6FKODJDUWLJ HUZDFKWH PHLQ 0LWUDXHQ 6KDUPDIOVWHUWHGHU([WUDVLQQ ,FKEHVFKOHXQLJWHPHLQH6FKULWWHOLHIDXIGHQ3ODW]KLQDXIXQGVSlKWHLQGLH)HQVWHUGHV$ONRYHQV DXV QDFKWVFKZDU]HP )DFKZHUN 6FDUURQ ZDU ]XUFNJHODVVHQ ZRUGHQ XQG GDQQ QDFK HLQLJHQ 6HNXQGHQ VDK LFK GLH 0HQVFKHQPHQJH GLH VLFK DXI GHQ 6WXIHQ GHV ª.UXJHV© VWDXWH 9HUHLQ]HOWH 5XIH ODXWHV 0XUPHOQ XQG HLQH 0HQJH DQGHUHU *HUlXVFKH NDPHQ GXUFK GHQ VFKQHLGHQGHQ SIHLIHQGHQ1DFKWZLQG0HLQH+DQGVFKORVLFKXPGHQ.ROEHQGHUVFKZHUHQ:DIIH'DQQZDULFK KHUDQ²XQGLFKJODXEWHPHLQHQ$XJHQQLFKW]XWUDXHQ ª+H[H6LHKDWGLH+DXWHLQHU+H[H6FKOHSSWVLHLQV*HIlQJQLV:HUIWVLHLQGHQ7XUPKROWGLH 6FKHUJHQ©VFKULHQGLH6WLPPHQ 'DQQVFKULH6KDUPDODXWXQGJHOOHQG
,FK EOLHE VWHKHQ ]LHOWH NXU] XQG IHXHUWH VFKQHOO KLQWHUHLQDQGHU VHFKVPDO 'LH 0HQVFKHQ IXKUHQ KHUXP-HPDQGWDXFKWH PLWHLQHU)DFNHODXI,FKVFKREPLWGHP'DXPHQGHQ6LFKHUXQJVIOJHOKHUXPXQGYHUZDQGHOWHGLH 5HLWHUSLVWROHLQHLQHQ/lKPVWUDKOHU ª6KDUPD©VFKULHLFK 'UHL 0lQQHU ]HUUWHQ GDV 0lGFKHQ PLW VLFK GLH 7UHSSH KHUXQWHQ ,FK KROWH /XIW XQG VFKR 3IHLIHQGXQGVXPPHQGDUEHLWHWHGLH:DIIH5HFKWVXQGOLQNVVDQNHQGLH0HQVFKHQ]XVDPPHQXQG ILHOHQ EHUHLQDQGHU 'LH 0lQQHU VWROSHUWHQ GLH 7UHSSH KLQXQWHU (LQHU YRQ LKQHQ KRE HLQHQ .QSSHOXPGDV0lGFKHQQLHGHU]XVFKODJHQ²LFKYHUlQGHUWHDEHUPDOVGLH(LQVWHOOXQJGHU:DIIH XQG VFKR LKP GXUFK GLH 6WLUQ (U NUDFKWH ]X %RGHQ GLH EHLGHQ DQGHUHQ IOFKWHWHQ ,FK ]HUVFKPHWWHUWHYRQEHVLQQXQJVORVHU:XWJHWULHEHQLKUH6FKLHQEHLQHPLW]ZHL6FKVVHQ'DQQZDU LFKDXIGHUXQWHUVWHQ6WXIHXQGKLHOWGDV0lGFKHQIHVW ª:DVLVWJHVFKHKHQ"©VFKULHLFKXQGGUHKWHPLFKODQJVDPKHUXPGLH:DIIHLP$QVFKODJ ª6LHNDPHQLQV=LPPHUKLHOWHQ6FDUURQPLW6WDQJHQIHVWXQGGDQQ© 9RQ REHQ NDP HLQ ODQJJH]RJHQHU PDUNHUVFKWWHUQGHU 6FKUHL ,FK ]XFNWH ]XVDPPHQ ,FK IDWH 6KDUPD XPGLH+IWHQ XQG]RJVLHPLW1DFK HLQLJHQ0HWHUQ LQGHU:LUWVVWXEHVDKLFKGLH6SXU GHU 9HUZVWXQJ 'HU :LUW ODJ EOXWEHUVWU|PW XQWHU HLQHP ]XVDPPHQJHEURFKHQHQ 7LVFK HLQ 6FKHUJHQHEHQLKP=HUULVVHQH.OHLGXQJVVWFNHVlXPWHQGLH7UHSSH(LQLJH.LHQIDFNHOQIODFNHUWHQ :LUOLHIHQGLH7UHSSHKLQDXIXQGVWROSHUWHQEHUHLQLJH%HZXWORVH ª:HUKDWKLHUJHNlPSIW"©IUDJWHLFKXQGKREGDV0lGFKHQKRFK ª,FK©VDJWHVLHª$OVVLHGDQQ]XGULWWZDUXPKDEHQVLHPLFKDQJHJULIIHQ"© ª6SlWHU© ,FK KRE GHQ )X XQG WUDW GLH 7U HLQ 6LH VFKOXJ NUDFKHQG JHJHQ GLH :DQG 6FDUURQ VHW]WH ]X HLQHP 6SUXQJDQLGHQWLIL]LHUWH XQVXQG VSUDQJ]XU6HLWH 'UHL0lQQHU GHQHQGLH $UPH]HUELVVHQ ZDUHQWDXPHOWHQDXVGHP5DXPDOVLFKVLHPLWGHU:DIIHEHGURKWH ª6LH KDEHQ GLFK IU HLQH +H[H JHKDOWHQ (V ZLUG =HLW ZLHGHU LQ HLQH QRUPDOH 8PJHEXQJ ]XUFN]XNHKUHQ©VDJWHLFKOHLVH'DV*HSlFNKDWWHQVLHXQDQJHWDVWHWJHODVVHQ,FKVFKREHLQHQ 6WXKO XQWHU GLH 7U XQG NODSSWH HLQHQ GHU VFKZHUHQ 5LQJH DXI (LQ ODQJHU .QRSIGUXFN GLH )HUQVWHXHUXQJGHV*OHLWHUVSHLOWHGHQ6HQGHUHLQXQGZUGHGDV*HIlKUWLQQHUKDOEHLQLJHU6WXQGHQ KHUDQUDVHQ ODVVHQ ,FK VHW]WH PLFK XQG VDK PLFK XP 7KRUQ LP (UPODQG ² DXVJHUHFKQHW KLHU YHUVXFKWHQGLHYRQSDQLVFKHU)XUFKWHUJULIIHQHQ0HQVFKHQHLQ0lGFKHQQXULKUHU+DXWIDUEHZHJHQ DOV+H[H]XYHUEUHQQHQ,FKVFKREGLH3LVWROHLQGHQ*UWHOXQGVDJWH ª'LHVH :HOW LVW QRFK LPPHU LP 'XQNHO GHV YHUZLUUWHQ 9HUVWDQGHV EHIDQJHQ 'DUDQ KDEHQ GLH 5HOLJLRQHQ QLFKWV JHlQGHUW VLH KDEHQ GLH 3UREOHPH K|FKVWHQV QRFK YHUWLHIW ,Q ZHQLJHQ 6WXQGHQ ZHUGHQZLUGLHVHQ7HLOYHUODVVHQXQG]XUFNQDFK6SDQLHQIOLHJHQ© 6KDUPD EHPKWH VLFK LKUH ]HUULVVHQHQ .OHLGXQJVVWFNH ]XVDPPHQ]XKDOWHQ XQG JDE HV DXI 6FDUURQ KDWWH VLFK EHIUHLHQ N|QQHQ LFK ZDUI GLH .QSSHO XQG 6WDQJHQ LQV )HXHU XQG JLQJ GLH :DIIHLQGHU+DQGKLQXQWHULQGLH:LUWVVWXEH'HU:LUWHUZDFKWHDXVVHLQHU%HVLQQXQJVORVLJNHLW DOVLFKLKPHLQHQ.EHO:DVVHUEHUGHQ.RSIVFKWWHWH $XV GHU ]XP 7HLO YHUZVWHWHQ .FKH KROWH LFK :HLQ XQG (VVHQ VFKOR HLQLJH 7UHQ XQG EHI|UGHUWH GLH %HZXWORVHQ KLQDXV ,FK VFKRE GHQ VFKZHUHQ 5LHJHO YRU GLH (LQJDQJVWU XQG JLQJ ZLHGHU KLQDXI :lKUHQG GDV 0lGFKHQ GDV (VVHQ DXI GHP 7LVFK YHUWHLOWH KHL]WH LFK HLQ VFKQUWH XQVHU*HSlFN]XVDPPHQXQGVHW]WHPLFKGDQQQHEHQHLQHVGHURIIHQHQ)HQVWHU 6KDUPDNDPKHUDQXQGEOLHEGLFKWQHEHQPLUVWHKHQ ª:LUKDEHQDXIXQVHUHUODQJHQ5HLVHYLHOJHVHKHQ$WODQ©VDJWHVLHª,FKGDQNHGLUGDGXPLFK PLWJHQRPPHQKDVW$EHULFKKDEHGLFKLQ6FKZLHULJNHLWHQJHEUDFKW%LVWGXE|VH"© ,FK]RJVLHDQPLFKXQGODFKWHODXW ª1LFKWGLH6SXU©VDJWHLFKZDKUKHLWVJHPlª(VZLUGQXUHLQLJHXQEHKDJOLFKH6WXQGHQJHEHQELV VLFK KLHU HLQH JHZDOWLJH 0HQVFKHQPHQJH ]XVDPPHQJHEDOOW KDW 6LH ZHUGHQ YRQ DOOHQ 6HLWHQ NRPPHQ6LHVLQGYHUKHW]WXQGLP*UXQGXQVFKXOGLJGDIUDEHUXPVRIDQDWLVFKHU(VGDXHUWVLFKHU QRFK-DKUKXQGHUWHELVGLHVHU+H[HQZDKQDXIJHK|UWKDW©
ª)XUFKWEDU©VDJWHVLHXQGVWULFKEHUPHLQ+DDU :LUDHQXQGZDUWHWHQ,FKODXVFKWHDXIMHGHVYHUUlWHULVFKH*HUlXVFKXQGVWDQGPHKUPDOVDXIXP PLFKDXVGHP)HQVWHU]XEHXJHQ(LQLJHGHU0lQQHUGLHQXUOHLFKWYRQGHQODKPHQ GHQ6WUDKOHQJHWURIIHQZRUGHQZDUHQVWDQGHQDXIEDOOWHQGLH)DXVW]XXQVHUHQ)HQVWHUQKRFKXQG KXPSHOWHQ GDYRQ (LQH)DFNHO YHUORVFKLQGHU*RVVH/DQJVDP EHJDQQGDV:DUWHQ XQKHLPOLFK ]X ZHUGHQ=ZDUEUDXFKWHGHU*OHLWHUYRQVHLQHPOHW]WHQ9HUVWHFNELVKLHUKHUQXUGUHLYLHU6WXQGHQ DEHU LQ GLHVHU )ULVW NRQQWH YLHO JHVFKHKHQ 8QG GLH =HLW EHJDQQ ]X GUlQJHQ ,FK PXWH QDFK 6SDQLHQ]XPN|QLJOLFKHQ+RIYRQ9DOODGROLG6FKOLHOLFKPXWHDXFK&DUORVGHU(UVWHYRUEHUHLWHW ZHUGHQ 1DFKHLQHU6WXQGHNDPHQVLH ª%OHLEH YRP )HQVWHU ZHJ© VDJWH LFK OHLVH ]X 6KDUPD GLH PLW ]LWWHUQGHQ )LQJHUQ DXI GLH 0HQVFKHQGHXWHWHGLHVLFKDXVGHQIQIRGHUVHFKV*DVVHQVFKREHQ6LHZDUHQEHZDIIQHWXQGYLHOH )DFNHOQ EUDQQWHQ =|JHUQG NDPHQ GLH 0HQVFKHQ QlKHU 6LH VFKULHQ QLFKW XQG HV ZDUHQ DXVVFKOLHOLFK0lQQHU,FKVDKDXIGLH8KU1RFKPHKUDOVHLQH6WXQGH ª6KDUPD%ULQJHGLHVHQNOHLQHQ.DVWHQGRUWELWWH©VDJWHLFKXQGGHXWHWHGDUDXI ,FKZDUWHWHZHLWHU ,FK ZQVFKWH QLFKWV ZHQLJHU DOV HLQHQ .OHLQNULHJ GHQ LFK PLW GHQ EHUOHJHQHQ :DIIHQ RKQHKLQ JHZLQQHQ ZUGH ,FK PXWH VLH DXI DQGHUH $UW LQ 6FKDFK KDOWHQ 'DQQ ]LHOWHQ HLQLJH 0lQQHU PLW VFKZHUHQ0XVNHWHQDXIPHLQH6LOKRXHWWHDP)HQVWHU ª'LH.HU]HQ²GHQ/HXFKWHUKLQWHUGHQ7LVFK6FKQHOO© 6HNXQGHQ VSlWHU ZDU QXU HLQ NOHLQHU 7HLO GHV 5DXPHV LQ GHU +HOOLJNHLW ,FK ]LHOWH PLW GHP /lKPVWUDKOHUXQGVFKRMHGHQGHU0lQQHUQLHGHUGLHVLFKDQGHQXQJHIJHQ0XVNHWHQ]XVFKDIIHQ PDFKWHQ(LQZWHQGHV0XUPHOQGUDQJEHUGHQ3ODW],FKZXUGHXQUXKLJ VFKOLHOLFKNRQQWHQVLH DXFK GHQ *DVWKRI YRQ GHU DQGHUHQ 6HLWH VWUPHQ ,FK VWHOOWH GLH JHWDUQWH 5HLWHUSLVWROH DXI GHQ GULWWHQ /DXI XP XQG IHXHUWH HLQLJH 6WUDKOVFKVVH LQ GHQ 6FKHLWHUKDXIHQ QHEHQ GHP %UXQQHQ 'LH )ODPPHQ]QJHOWHQDP5HLVLJKRFK ELQQHQNXU]HU=HLWHUKHOOWHHLQJHZDOWLJHV)HXHUGHQ3ODW] :LUZDUWHWHQDWHPORVJHVSDQQWXQGHLQZHQLJlQJVWOLFK+LHUVDHQZLULQGHU)DOOH 'LH 5HDNWLRQ GHU (LQZRKQHUVFKDIW YRQ 7KRUQ ZDU XQWHUVFKLHGOLFK HLQLJH VFKULHQ HWZDV ZRYRQ LFKQXUª7HXIHO+H[HQPHLVWHU©YHUVWDQGXQGIORKHQ(LQ0XVNHWHQVFKX NUDFKWH GLH .XJHO VFKOXJ XQVFKlGOLFK LUJHQGZR LQV *HElON IFK ODKPWH ZLHGHU HLQLJH *UXSSHQ YRQ 0HQVFKHQ GLH VLFK ]X ZHLW YRUJHZDJW KDWWHQ GDQQ IHXHUWH LFK HLQLJH QRUPDOH 3DWURQHQ 4XHUVFKOlJHUKHXOWHQPLWVFKDXHUOLFKHQ*HUlXVFKHQEHUGDVJUREH3IODVWHU ª:DQQNRPPWXQVHUVWlKOHUQHU9RJHO$WODQ"© ª,QQHUKDOEGHUQlFKVWHQ6WXQGH+DVWGX$QJVW"© ª-D© 6LH ZHUGHQ DXI DOOH )lOOH YRQ 7HXIHOVVSXN VSUHFKHQ VDJWH PHLQ ([WUDKLUQ 'LHVH XQVLFKWEDUHQ /lKPXQJHQVLQGQLGLW]XEHJUHLIHQ 'HU VFKDXHUOLFKH )HXHUVFKHLQ EHOHXFKWHWH NOHLQH *ODVVFKHLEHQ GLH $XJHQ GHU 0HQVFKHQ GLH +DXVIURQWHQ XQG GLH VHFKV *UXSSHQ GLH VLFK DXV DOOHQ 5LFKWXQJHQ GHP +DXV QlKHUWHQ ,FK KRE ZLHGHU GLH :DIIH XQG JHQDX DOV HLQ QHXHU 0XVNHWHQVFKX NUDFKWH IHXHUWH LFK PLW GHP /lKPVWUDKOHU 0LQGHVWHQV HLQKXQGHUW 0lQQHU ILHOHQ XP XQG HLQ JHLOHQGHV *HVFKUHL HUKRE VLFK 3DQLVFKH)OXFKWVHW]WHDQHLQLJHQ6WHOOHQHLQ6ROGDWHQPDUVFKLHUWHQKHUDQ:LHGHUIHXHUWHLFKXQG ZDUIVLH]X%RGHQ$QGHUHUVHLWVVFKLHQHVDXIGHUJHJHQEHUOLHJHQGHQ6HLWHGHV+DXVHV]XUXKLJ]X VHLQ ,FK DKQWH GD VLFK GRUW HEHQIDOOV *UXSSHQ KHUDQZDJWHQ ,FK RULHQWLHUWH PLFK UL GLH ]ZHLWH :DIIHXQWHUGHP*XUWXPHLQ*HSlFNVWFNKHUDXVXQGGUFNWHVLHGHP0lGFKHQLQGLH+DQG6LH ZXWH ZLH PDQ GDPLW XP]XJHKHQ KDWWH ,FK YHUOLH GDV =LPPHU VFKQLSSWH PLW GHQ )LQJHUQ XQG GHXWHWHDXIGDV0lGFKHQ6FDUURQVWHOOWHVLFKZDFKVDPQHEHQVLH :HOFKHU :DKQVLQQ KDWWH GLHVHQ QRUPDOHQ DUEHLWVDPHQ %UJHUQ XQG 6WDGWEHZRKQHUQ GLH ,GHH HLQJHJHEHQ GD MHGHU0HQVFK GHUYRQ GHQ VWDUUHQ 6FKHPDWD DEZLFKGHVZHJHQ JOHLFK PLW HLQHP QLFKWH[LVWHQWHQ7HXIHOLP%XQGZDU",FKVWREGLH7UHSSHKLQXQWHUZLUEHOWHDXIGHP$EVDW]KHUXP XQGGUDQJLQHLQOHHUHV=LPPHUHLQ,FKVWLHPLWGHP6FKLHQEHLQLQGHU'XQNHOKHLWDQHLQHQ6WXKO
IOXFKWHOHLVHXQGULGDVTXLHWVFKHQGH)HQVWHUDXI 0HLQH$XJHQJHZ|KQWHQVLFKDQGDV+DOEGXQNHO'HU+LPPHOZDULQ]ZLVFKHQZRONHQORVXQGGLH +lXVHUXQG%lXPHZDUIHQODQJH6FKDWWHQGDGLH0RQGVLFKHOQDKHDP+RUL]RQWVFKZHEWH 6LHZDUHQVFKRQ]XQDKHKHUDQ 5HFKWVXQGOLQNVZDUQWHGHU([WUDVLQQ ,F.VFKDOWHWHDXI/lKPVWUDKOHUXPXQGIHXHUWHLQHLQHU6HULHNXU]HU6FKVVHGLHKDOEH(QHUJLHGHV NOHLQHQ0DJD]LQVOHHU'LH0lQQHUILHOHQDXVGHQ=ZHLJHQGHU%lXPHUXWVFKWHQEHUGDV'DFKGHV 6FKXSSHQVXQGNUDFKWHQKLQXQWHUDXI%UHWWHUVWDSHOXQGDOWH.HVVHO(LQK|OOLVFKHU6SHNWDNHOEUDFK ORV,FKVHW]WHHLQHQGUUHQ%XVFKLQ%UDQGXQGVlXEHUWHLQQHUKDOEZHQLJHU0LQXWHQGDV*HOlQGH 'DQQUDVWHLFK]XUFNLQVDQGHUH=LPPHU=HWHUQGXQGVFKUHLHQGUDQQWHGHU:LUWLP8QWHUJHVFKR KHUXP ,FK NDP JHUDGH ]XUHFKW XP PLW]XHUOHEHQ ZLH VLFK HQWODQJ GHU +DXVPDXHUQ GLUHNW XQWHU GHP$ONRYHQHLQH6FKDUEHVRQGHUV0XWLJHUKHUDQSLUVFKWH/DXWORVVDQNHQVLHXP(LQH)DFNHOIORJ LQHLQHQ+HXKDXIHQXQGGLH)ODPPHQEHJDQQHQDP1DFKEDUKDXVHPSRU]X]QJHOQ ª'RUWREHQ$WODQ©VDJWH6KDUPDDXIJHUHJW hEHUGHQ'lFKHUQUDVWHGHU*OHLWHUKHUDQ,FKQDKPHLQLJHGHUNOHLQHQVFKZDU]HQ.XJHOQDXVGHP .lVWFKHQKROWHPLQGHVWHQV]HKQPDOQDFKHLQDQGHUDXVXQGVFKOHXGHUWHGLH.XJHOQLQGLH5LFKWXQJ GHUYRUGUFNHQGHQ0HQVFKHQ'DQQGLULJLHUWHLFKGHQ*OHLWHUODQJVDPKHUDQ 0LW NUDFKHQGHQ *HUlXVFKHQ GHWRQLHUWHQ GLH .XJHOQ =HKQ JHZDOWLJH 1HEHOIHOGHU EUHLWHWHQ VLFK DXV MHGHV LQ HLQHU DQGHUHQ )DUEH 'DV VFKZDFK LRQLVLHUWH *DV EHJDQQ ]X OHXFKWHQ +DUW VWLH GHU *OHLWHUDQGLH%DONHQXQGLFKKDOI6KDUPDKLQDXV6LHILHOLQGHQ1HEHQVLW] LFKUHLFKWHLKUXQVHU *HSlFNKLQDXV 'DQQVFKZDQJLFKPLFKDXVGHP)HQVWHUJOLWWDXVXQGHUUHLFKWHJHUDGHQRFKHLQHQ+DQGJULII 'XUFKGHQ1HEHOXQGGDVZWHQGH*HVFKUHLGHU%UJHUIORJGHU*OHLWHUJLQJK|KHUXQGKDWWHQDFK HLQSDDU0LQXWHQ7KRUQZHLWKLQWHUVLFKJHODVVHQ,FKVWHOOWHHLQHVGHUSURJUDPPLHUWHQ=LHOHHLQ² HVZDUHLQ2UWLQGHU1lKHGHU5HVLGHQ]GHVHUVWHQ&DUORV (VEHUUDVGLWGLFKQLFKW$UNRQLGH1RFKODQJHZLUGGLHVH:HOWXQWHUGHQ)HKOHUQLKUHU%HZRKQHU OHLGHQNRPPHQWLHUWHGHU([WUDVLQQ ,FKVDJWHOHLVH ª'LH:HOWDXVGHULFKNRPPHLVWQLFKWGLHVFK|QVWHDOOHUP|JOLFKHQ:HOWHQ$EHUDXILKUVLQGGLH 6FKZlFKHQGHU%HZRKQHUQLFKWGLHHLQ]LJHQ*UQGHIU.ULHJHXQG:DKQVLQQ $EHULFKKDEHHLQLJH)HXHUHQW]QGHW 'HQNH DQ /XWKHU 6KDUPD 'HQNH DQ DOOH GLH ZLFKWLJHQ 0lQQHU PLW GHQHQ ZLU XQV XQWHUKDOWHQ KDEHQ 0HLQH ,GHHQ XQG 'HQNDQVW|H DOOH GLH NOHLQHQ (UILQGXQJHQ GLH =HLFKQXQJHQ XQG GLH 5H]HSWH²VLHZHUGHQHLQHODQJVDPH5HYROXWLRQGHV*HLVWHVDXVO|VHQ© ª$EHUZLU ZHUGHQ WRW VHLQ EHYRU ZLU GLH)UFKWH GHLQHU6DDWHUOHEHQN|QQHQ© VDJWHGDV VFK|QH 0lGFKHQ QHEHQPLU 2EZRKOLFK VLHPLW $OH[DQGUDYRQ /DQFDVWHU YHUJOLFKXQGVLH GDEHLVFKOHFKW DEVFKQLWWZHLOLFKVLHQRFKQLFKWOLHEHQNRQQWHYHUPLWWHOWHVLHPLUHLQVWDUNHVXQGYRQLKUHU6HLWH XQJHEURFKHQHV *HIKO 6LH ZDU PHKU ZHUW DOV QXU PHLQH =XQHLJXQJ DEHU GLH =HLW ZDU QRFK QLFKW UHLI 'LH*HZRKQKHLW$WODQKDWVFKRQJDQ]H%HUJHDEJHWUDJHQXQG.RQWLQHQWH]HUEURFKHQVDJWHGHU /RJLNVHNWRU 6LH ZLUG DXFK ]ZLVFKHQ HXFK GDV EHUKPWH *HIKO GHU $XVVFKOLHOLFKNHLW KHUVWHOOHQ N|QQHQ:DUWH ,FKVFKZLHJ:LHLPPHUKDWWHGHU([WUDVLQQUHFKW 'HU*OHLWHUUDVWHLQHLQLJHQKXQGHUW0HWHUQ+|KHQDFK6GZHVWHQ,QHLQHP7DJRGHUHWZDVPHKU ZUGHQZLUDQHLQHPZHLWHUHQ=LHOVHLQ$OOHVZDUHQQXU6FKULWWH6LHPXWHQJHWDQZHUGHQGHQQ GLH .RPELQDWLRQ DOOHU PHLQHU ,GHHQ HUVW VLFKHUWH GHQ (UIROJ XQG VWHOOWH JOHLFKHUPDHQ VLFKHU GD LFK QLFKW DXIILHO %LV ZLU GLH JOFNOLFKHQ ,QVHOQ HUUHLFKWHQ ZDUHQ QRFK JURH 6FKZLHULJNHLWHQ ]X EHUZLQGHQ 6KDUPDVFKOLHILKUHQ.RSIDQPHLQH6FKXOWHUJHOHKQW
9$//$'2/,'ZDUDQGLHVHQ7DJHQ]XNDOWIUGLHVH-DKUHV]HLW(LQHLVLJHU:LQGSILIIGXUFKGLH 6WUDHQ,FKZXWHGDLFKRKQHGHQ(LQVDW]GHU5RERWVSLRQHNDXPKlWWHHWZDVDXVULFKWHQN|QQHQ 0HLQQlFKVWHV=LHOZDUGHUZLFKWLJVWH%HUDWHUGHVMXQJHQVFKZlUPHULVFKHQ.|QLJV%HVRQGHUH/LVW ZDU QLFKW Q|WLJ DEHU EHVRQGHUH 9RUVLFKW PXWH JHZDKUW EOHLEHQ 7DJHODQJ ULWW XQG VSD]LHUWH LFK XPKHUELVLFKHLQHJQVWLJH*HOHJHQKHLWKDWWH'HU8PVWDQGGDVRJXWZLHMHGHU0HQVFKNlXIOLFK ZDUZHQQDXFKGLH6XPPHUHFKWXQWHUVFKLHGOLFKDXVILHO ZDUPLUEHNDQQW²LFKZDQGWHGLHVH7HFKQLNPHKUPDOVDQ'DQQVWDQGLFKLPNDOWHQ*DUWHQLQ GHP GHU JUHLVH .DUGLQDO )RQVHFD GHU %LVFKRI YRQ %XUJRV XP GLHVH =HLW VHLQ %UHYLHU ]X EHWHQ SIOHJWH,FKZDUWHWHJHGXOGLJDEHUYRQLQQHUHU8QUXKHHUIOOW
(LQJURHUVFKODQNHU0DQQNDPOHLFKWYRUJHEHXJWDXVHLQHU7UGLHVLFKOHLVHKLQWHULKPVFKOR (UVDKPLFKQLFKW(UJLQJODQJVDPGXUFKGHQ.UHX]JDQJXQGGLH/LSSHQEHZHJWHQVLFK,FKK|UWH NHLQ :RUW XQG OHKQWH PLFK JHJHQ GLH HLVNDOWH :DQG PLW GHQ NRVWEDUHQ 6WHLQPHW]DUEHLWHQ (V GDXHUWH HLQH (ZLJNHLW ELV GHU .DUGLQDO LQ PHLQHU 1lKH ZDU ,FK O|VWH PLFK YRQ GHU 0DXHU XQG VHQNWHGHQ.RSI ª1XQ"© IUDJWH HU QDFK HLQLJHU =HLW (U ZDU EHNDQQW DOV ZRUWNDUJHU 0DQQ GHU DOV %HUDWHU GHV .|QLJVHLQHJHUDGH]XEHVHVVHQH6SDUVDPNHLWDQGHQ7DJOHJWH ª9HU]HLKW (PLQHQ]© VDJWH LFK OHLVH ªZHQQ LFK (XFK LQ GHU $QGDFKW VW|UH $EHU LFK KDEH HLQ $QOLHJHQEHVRQGHUHU$UW(VKLOIW(XFKVSDUHQEULQJW(XFKXQGGHP5HLFK5XKPXQG(KUHXQGHV OlWHLQHQ6WUDKOJHOlXWHUWHQ*ROGHVDXIGLH.LUFKHIDOOHQ© (UPXVWHUWHPLFKHLQGULQJOLFK6HLQH$XJHQZDUHQZLHNOHLQH'ROFKHGLHGXUFKXQGGXUFKJLQJHQ ª:HUVHLG,KU":LHNDPW,KUKLHUKHUHLQ"© ,FKOlFKHOWHXQGVDJWHOHLVH ª$XFKGLH3ULHVWHU(XUHU8PJHEXQJVLQGHLQHUJUR]JLJHQ6SHQGHQLHPDOVDEJHQHLJW.DUGLQDO ,FKKDEHHLQLJHIURPPH0lQQHUPLW(UIROJLQ9HUVXFKXQJJHIKUW LFKELWWHPLFKQLFKWZHLWHU]X IUDJHQ© 'HU %LVFKRI YRQ %XUJRV JLQJ ZHLWHU XQG LFK VFKULWW ODQJVDP QHEHQ LKP KHU :LU ZDUHQ XQG EOLHEHQXQJHVW|UW=ZHLPDOVDKHUPLFKVFKDUIYRQGHU6HLWHDQGDQQPXUPHOWHHUYHUEOIIW ª1RFK QLHPDOV VDK LFK VROFKH $XJHQ ZLH (XUH ,KU ZROOW PLU DOVR (XUHQ 1DPHQ QLFKW VDJHQ ² VFK|Q©(UKVWHOWHPLW'LVNUHWLRQ ª:HQQ,KUPLUGLH%HLFKWHDEQHKPWQHQQHLFKPHLQHQ1DPHQ9DWHU©PHLQWHLFKª,QGHVJHKWHV QLFKWXPPLFK(V JHKWXPHLQHQNOHLQHQHKUJHL]LJHQ0DQQGHUYLHOOHLFKW*URHVYROOEULQJHQZLUG(UZLUGHUVWHQV EHZHLVHQ GD GLH (UGH UXQG LVW XQG ]ZHLWHQV 6SDQLHQ YLHO (KUH EULQJHQ ,FK UHGH YRQ GHP 3RUWXJLHVHQ0DJDOKmHV(UEHNRPPWHLQH$XGLHQ]EHL&DUORV"© ª,FKGHQNHMD$EHUZDVKDEW,KUPLW0DJDOKmHV]XVFKDIIHQ"©IUDJWHHUHUVWDXQW 'HU :LQG WULHE GLH DOWHQ %OlWWHU YRP OHW]WHQ -DKU EHU GLH 6WHLQIOLHVHQ 'LH EUDXQHQ %OlWWHU EHZHJWHQ VLFK UDVFKHOQG NUHLVHOWHQ KLQWHU 6lXOHQ XQG ILQJHQ VLFK LQ :LQNHOQ DXV GHQHQ VLH GHU QlFKVWH:LQGVWRZLHGHUKHUYRUUL'LH)LQJHUGHVDOWHQ0DQQHVZDUHQURWYRU.lOWH ª,FK ZHL GD HV GLH !0ROXNNHQ JLEW GLH VDJHQKDIWHQ *HZU]LQVHOQ ,FK ZHL DXFK GD HV YLHOH/lQGHUJLEWGLHQRFKYRQ6SDQLHQRGHU3RUWXJDOQLFKWHQWGHFNWZRUGHQVLQG0DJDOKmHVKDW HLQHQJURHQ6FKULWWIUGLH0HQVFKKHLWYRU²HVOLHJWDQ(XFKGHQ.|QLJVR]XEHUDWHQGDGLHVHU 6FKULWWYROO]RJHQZLUG,FKKDEH.DUWHQYRQGHQ*HELHWHQDQGHQHQGLH)DKUWOLQLHGHV0DJDOKmHV HQWODQJIKUHQVROO,KUZROOWVLHVHKHQ"© ª:RKHU KDEW ,KU GLHVH EHZXQGHUQVZHUWHQ .DUWHQ"© HUNXQGLJWH HU VLFK PLW HLQHP 7RQIDOO DOV ZHLVHHUHLQHQ1RYL]HQ]XUHFKW
,FKVDJWH ª,FKELQVHKUZHLWJHUHLVW© ª:DUXPZROOW,KUGLHVHUXKPEULQJHQGH)DKUWQLFKWXQWHUQHKPHQ"© ,FKODFKWHXQGHUZLGHUWH ª:UGH(XFKHLQ0OOHUELWWHQVHLQH.RUQVlFNH]XWUDJHQGDQQZUGHW,KUVDJHQGD,KU]ZDU %URWJHUQHWRGHU*HUVWHQVXSSHDEHUGD,KUQLFKWGHV0OOHUV(VHOVHLG,FKELQHLQ)UHPGHULQ YLHOHQ /lQGHUQXQG GHUHQ 6DFKHLVWQLFKW PHLQH%HGHQNWGLH 1RWLQ &DUORV .DVVHQ EHGHQNWGHQ 5XKPGHQ(XFK0DJDOKmHVEULQJHQNDQQ8QGQHKPWDQGDLFKHLQ0DQQELQGHPJXWHV/HEHQ PHKU EHKDJW DOV HLQH )DKUW ZLH GLH GHV &RORQ GHQ VLH DXFK .ROXPEXV QHQQHQ ,FK ELQ QLFKW GHU $UEHLWHULQ&DUORV:HLQJDUWHQ© 'HUDOWH0DQQGDFKWHJHQDXGUHL:DQGHUXQJHQODQJQDFK:LUEHZHJWHQXQVODQJVDPGUHLPDOXP GHQJDQ]HQ.UHX]JDQJKHUXPGDQQIUDJWHGHU.DUGLQDOWURFNHQ ª:DVZROOW,KUIUGLHVHQ5DW",FKNDQQ(XFKYHUVWHKHQDEHULFKZHLGDMHGHU0DQQHLQ0RWLY KDW© ª0HLQ 0RWLY OLHJW WLHIHU ,FK ZLOO EHZHLVHQ GD HV HLQH 0HQJH NOXJH 0lQQHU JLEW GHUHQ =XVDPPHQDUEHLW ZDKUKDIW JURH 7DWHQ YROOEULQJW )RQVHFD &DUORV 0DJDOKmHV GDV VLQG GUHL 1DPHQGLHQXUHLQHVKHUYRUEULQJHQN|QQHQ (UIROJ'DVLVWPHLQ0RWLY.DUGLQDO)RQVHFD© :LHGHUOLHIHQZLUGXUFKGHQ.UHX]JDQJ,Q]ZLVFKHQIURUHQZLUEHLGH)RQVHFDZDUIHLQHQ%OLFNLQ GDV%XFKGDVHULQ GHQ )LQJHUQWUXJGDQQVFKORHU HV PLWHLQHP.QDOO (U ZDQGWHVLFKDQ PLFK XQGHUNXQGLJWHVLFKYRUVLFKWLJ ª,KUKDEW.DUWHQVDJW,KU"© 'X KDVW RIIHQVLFKWOLFK VHLQH ZXQGH 6WHOOH JHWURIIHQ VDJWH GHU ([WUDVLQQ9HUVXFKH ZHLWHU LKQ ]X EHU]HXJHQ ª,FK KDEH .DUWHQ© VWLPPWH LFK ]X ª$XVJH]HLFKQHWH .DUWHQ YRQ NOXJHQ 0lQQHUQ GLH /lQGHU NHQQHQZLHDXVGHP$XJHGHV$GOHUV,KUZROOWVLHVHKHQ"© ª-D+DWDXFK0DJDOKmHVGLHVH.DUWHQ"© ª1HLQ© HUZLGHUWH LFK ªDEHU LFK ZHUGH VLH LKP ]HLJHQ 8QG LFK YHUVSUHFKH (XFK HLQ 0DQQ ZLH 0DJDOKmHVKDUWXQGYHUVFKORVVHQYROOHUEUHQQHQGHQ(KUJHL]HVXQGRKQHYLHO5FNVLFKWQDKPH² HULVWGHU0DQQGHUGLH0ROXNNHQIU6SDQLHQHQWGHFNHQZLUG© )RQVHFD ZLQNWH :LU EHHQGHWHQ XQVHUHQ 5XQGJDQJ HLQH 7U |IIQHWH VLFK XQG NXU]H =HLW VSlWHU VDHQZLUHLQDQGHUDQHLQHPULHVLJHQVFK|QJHVFKQLW]WHQ6FKUHLEWLVFKJHJHQEHU'XUFKGDV)HQVWHU ILHO VFKUlJ IDKOHV XQG NUDIWORVHV 6RQQHQOLFKW (LQ NDKOHU %DXP ELOGHWH HLQH VFKZDU]H VSLQQHQILQJHULJH6LOKRXHWWH,FK]RJGLHJURH.DUWHKHUYRUGLHLQHLQ*LWWHUQHW]HLQJH]HLFKQHWZDU 6SlWHU HLQPDO ZUGH GLHVH 3URMHNWLRQ ZLFKWLJ IU DOOH 6HHIDKUHU ZHUGHQ 0LW PLQX]L|VHU *HQDXLJNHLWKDWWHQPHLQH0DVFKLQHQDXV+|KHQSKRWRVGLHJHVDPWH(UGHJH]HLFKQHWHLQVFKOLHOLFK EHLGHU3ROH)RQVHFDOLHVLFKGLH.DUWHHUNOlUHQXQGGHXWHWHGDQQDXIGHQ,VWKPXV]ZLVFKHQEHLGHQ .RQWLQHQWHQGHU1HXHQ:HOW ª+LHUVHKHLFKNHLQH'XUFKIDKUW©VDJWHHUOHLVHª$EHU0DJDOKmHVEHKDXSWHWHVLQVHLQHU(LQJDEH DQGHQVSDQLVFKHQ+RI© ,FKGHXWHWHDXIGLH]HUNOIWHWH.VWHLPVGOLFKVWHQ7HLOGHV6GNRQWLQHQWVXQGHQWJHJQHWH ª8QGKLHUZLUGHUGLH'XUFKIDKUWULQGHQ=ZHLIHOW,KU"© ª'LHVH.DUWHLVWHLQ:XQGHUXQGNUDIWPHLQHV5DQJHVELQLFKYHUSIOLFKWHWDQ:XQGHU]XJODXEHQ (VJLEWVRYLHOH!:HQQV XQGDQGHUH)UDJHQGLHLFKZRKODEZlJHQPX9LHOOHLFKWHQWVFKHLGHLFK PLFK&DUORV]XUDWHQGDHUGHP0DJDOKmHVHLQH)ORWWHDXVUVWHW© ,FKVWDQGDXIXQGUROOWHGLH.DUWHZLHGHU]XVDPPHQ ª,FK KDEH NHLQHQ *UXQG GD]X .DUGLQDO )RQVHFD (XFK ]X EHOJHQ ,FK ZLOO ZHGHU 5HYROXWLRQHQ DXVO|VHQ QRFK UHLFK ZHUGHQ $EHU HV LVW ]X IRUGHUQ GD VLFK DOOH 0HQVFKHQ GLHVHU :HOW DXI DOOHQ ,QVHOQXQG(UGWHLOHQNHQQHQOHUQHQ'DVEH]ZHFNHLFK GHVKDOEXQVHUH8QWHUKDOWXQJ,FKGDUIPLFK HQWVFKXOGLJHQ"© (U VWDQG DXI XQG UHLFKWH PLU GLH +DQG $QVWDWW PLFK EHU VLH ]X EHXJHQ VFKWWHOWH LFK VLH ,FK NDQQWHGLH7UHQGXUFKGLHLFKJHKHQPXWH6FKOLHOLFKHUUHLFKWHLFKGHQYHUVWHFNWHQ*OHLWHUIORJ
]XUFNQDFK6HYLOODXQGULWWGRUWYRP9HUVWHFNDXVLQPHLQ+DXV ,Q]ZLVFKHQ ZDU HV YROO HLQJHULFKWHW 8QPHQJHQ YRQ %FKHUQ XQG %ULHIHQ PLW DOOHQ ZLFKWLJHQ =HLWJHQRVVHQ XQG $XVUVWXQJVPDWHULDO /LVWHQ XQG %HVFKUHLEXQJHQ IU GLH NOHLQH .DUDYHOOH VWDSHOWHQVLFK/DQJVDPIDVW]XODQJVDPUVWHWHQZLUGLHODQJH5HLVHDXV%LVDXIPHLQ*HVSUlFK PLW0DJDOKmHVGHUVLFKKLHULQ6SDQLHQ0DJKHOODQHVQDQQWHZDUHQVlPWOLFKH:HLFKHQJHVWHOOW %DOGZUGHGLHODQJH5HLVHEHJLQQHQ 7(55$ $8675$/,6 1&2*1,7$ KDWWHQ ZLU GLH .DUDYHOOH JHWDXIW 6LH ZDU ZLUNOLFK GDV EHVWH 6FKLIIGDVGLH:HUIWHQ6HYLOODVMHYHUODVVHQKDWWH'LH6SHLFKHUGDWHQPHLQHU0DVFKLQHQXQ]lKOLJH 5H]HSWH IU /DFNH XQG )LUQLV 'LFKWXQJVPLWWHO XQG SULPLWLYH .XQVWVWRIIH XQG PHLQH SHUV|QOLFKHQ .HQQWQLVVHKDWWHQ]XVDPPHQJHZLUNW'DV6FKLIIZDUPHKUDOVQXUVLFKHU$XIVHLQHXQJHZRKQWH$UW ZDUHVVFK|QVFKQLWWLJXQGVFKQHOOXQGVRJDUGHU6WRIIGHU6HJHOZDUEHVVHU-HGH(LQ]HOKHLWKDWWH LFKLPPHUZLHGHUPLW'LHJRXQG5RMDVGH$YDUUDEHUSUIW $OOH 7HLOH DOOH 7URVVHQ MHGHU HLQ]HOQH %HVFKODJ MHGH 6FKUDXEH ZDU +DQGDUEHLW ZDU GRSSHOW VWDUN(LQH0HQJHQHXHU7HFKQLNHQZDUªHUIXQGHQ©ZRUGHQ'LH:HUIWHQLQ6HYLOODXQGEDOGDXFK LQDQGHUHQ2UWHQZUGHQVLHEHQXW]HQ6FKRQKHXWHEDXWHQGLH(QJOlQGHU6FKLIIHPLWELV]XVLHE]LJ VFKZHUHQ6FKLIIVJHVFKW]HQ$XFKGDUDQZDUJHGDFKWZRUGHQ²DEHULQPHLQHP6FKLIIEHIDQGVLFK HLQ.RPSD XPLQ&KLQDJHEUDXFKWVHLWLQGLHVHP7HLOGHU:HOWYHUZHQGHWDEHUYLHO]X VHOWHQ ZLUNOLFK EHQXW]W 'LHVHU .RPSD HLQ 0HLVWHUZHUN PHLQHU 0DVFKLQHQ ZUGH HLQH JURH 5ROOHLP9HUKlOWQLV]ZLVFKHQ0DJKHOODQHVXQGPLUVSLHOHQ
,FK WUDI 0DJKHOODQHV LP 6HSWHPEHU DQ %RUG VHLQHV 6FKLIIHV GHU 75,1,'$' 'DV )ODJJVFKLII GHV NOHLQHQ .RQYRLV YRQ IQI 6FKLIIHQ ZDU IHUWLJ JHUVWHW =ZHL 0lQQHU EHJUWHQ PLFKDOVLFKPLFKDQPHOGHQOLH²LFKVWHOOWHPLFKYRU ª,FKELQ6HxRU$QWRQLR3LJDIHWWDDXV9LFHQ]D5LWWHUGHV5KRGHVHU2UGHQV©VDJWHGHUMXQJH0DQQ PLWGHQOHEKDIWHQ$XJHQª,FKZHUGHGLHVH)DKUWDOV&KURQLVWEHJOHLWHQ© ,FKYHUEHXJWHPLFKXQGUHGHWH0DJDOKmHVDQ (LQ GVWHUHU 0HQVFK PLW VFKZDU]HP XQJHSIOHJWHP %DUW LFK KDWWH LKQ VFKRQ KlXILJ DP .DL JHVHKHQ$XFKHUHUNDQQWHPLFKZLHGHU0LWGXQNOHUHWZDVKHLVHUHU6WLPPHVDJWHHU ª,KUVHLGGH$UFRQGHU%HVLW]HUGHU7(55$"(LQPHUNZUGLJHV6FKLIIGHQNHLFK© ,FK ODFKWH XQG OHJWH PHLQH .DUWHQ DXI GHQ 7LVFK LP $FKWHUNDVWHOO LQ GHP VLFK GLH .DELQH GHV *HQHUDONDSLWlQVEHIDQG ª(LQVWRO]HVVFKQHOOHVXQGNOHLQHV6FKLII©VDJWHLFKPLW1DFKGUXFNªGDVYRU(XFKKHUVHJHOQXQG GLHIHUQHQ,QVHOQHUUHLFKHQZLUG,FKKDEHVFKRQPHKUHUH:HWWHQDEJHVFKORVVHQGDHVPLUJHOLQJW $XFKPLW(XFK0DJKHOODQHVZLOOLFKZHWWHQ© 0DJKHOODQHVUDQJVLFKHLQWURFNHQHVNXU]HV/DFKHQDEXQGZDUIVHLQHQ+XWDXIHLQH3ROVWHUEDQN 'DQQEDWHU3LJDIHWWDXQVDOOHLQ]XODVVHQ ª:DVKDEW,KUGDJHVDJW"©IUDJWHHU ,FK HUNOlUWH HV LKP'DV KHLW LFKYHUVXFKWHHV,FK HQWZLNNHOWHHLQHQ 3ODQ GHUYRUVDK GD LFK YRU 0DJKHOODQHV HLQKHUVHJHOQ LKQ SDVVLHUHQ ODVVHQ XQG ZLHGHU EHUKROHQ ZUGH $Q EHVWLPPWHQ 3XQNWHQZUGHQZLUXQVWUHIIHQXQGZHUYRQXQVZLHGHUHKHULQ6HYLOODRGHU6DQ/XFDUHLQWUHIIHQ ZUGHKDWWHGLH:HWWHJHZRQQHQ'DQQEUHLWHWHLFKPHLQH.DUWHQDXV=XPHUVWHQPDOVDKLFKHLQH GHXWOLFKH5HDNWLRQEHLGLHVHPYHUVFKORVVHQHQ0DQQ HUZXUGHJHUDGH]XJLHULJ ª:DVYHUODQJW,KUIUGLHVH.DUWH"©ULHIHU ª1LFKWV©VDJWHLFKª,FKVFKHQNHVLH(XFK$EHUHVLVWHLQ*HKHLPQLVPLWGLHVHU6HHNDUWH©
(UEHWUDFKWHWHVLHXQG]RJGDQQVHLQHHLJHQHQ.DUWHQKHUYRU(UYHUJOLFKEHLGHPLWHLQDQGHUXQG GLH 8QWHUVFKLHGH NRQQWHQ QLFKW GHXWOLFKHU VHLQ 0LW PHLQHU ZLQ]LJHQ .DPHUD QDKP LFK PHKUHUH 3KRWRVYRQVHLQHQ.DUWHQDXI HVZDUHQ'RNXPHQWHDXVHLQHUGXQNOHQ=HLW ª:HOFKHV*HKHLPQLV"©HUNXQGLJWHHUVLFKPLWUDXLVFK ª'DVJHUDGHLVWGDV*HKHLPQLV©ODFKWHLFK,QGHQYHUJDQJHQHQ0RQDWHQXQG:RFKHQKDWWHQZLU XQVHUH 6FKLIIH DXVJHUVWHW 'DEHL ZDU LFK JDQ] DQGHUV YRUJHJDQJHQ DOV GHU 3RUWXJLHVH IU HLQH )DKUW GLH UXQG HLQ -DKU GDXHUQ ZUGH JDE HV]DKOUHLFKH ORJLVWLVFKH 3UREOHPH ,FK NDQQWH VLH LFK KDWWHVLHYRUKHUDXVUHFKQHQODVVHQ0DJKHOODQHV6FKLIIHZDUHQDOWHELOOLJHLQJHNDXIWH6FKLIIHPLW GHQHQ LFK QLFKW HLQPDO QDFK 7HQHULIID KlWWH VHJHOQ ZROOHQ 'HU VSDQLVFKH +RI KDWWH GHQ *HQHUDONDSLWlQQLFKWJHQJHQGXQWHUVWW]WXQGHLQUHLFKHU.DXIPDQQIODQGULVFKHU5HHGHUQDPHQV &ULVWREDO GH +DUR KDWWH YLHO *HOG LQ GDV 8QWHUQHKPHQ JHVWHFNW 'LH 5HLVH ZDU DOVR JHVLFKHUW 7URW]GHP PXWH LFK 0DJHOODQ GHQ NU]HVWHQ .XUV ]HLJHQ VHLQH ]ZHLKXQGHUWIQIXQGVHFK]LJ 0lQQHUVWDUEHQVRQVWDQ6NRUEXWXQGLQIROJHXQJHQJHQGHU9HUVRUJXQJ ª'HU .XUV GH $UFRQ© VDJWH GHU ILQVWHUH 0DQQ LQ]ZLVFKHQ 9DWHU ]ZHLHU .LQGHU ª,KU KDEW LKQ EHUHLWVHLQJH]HLFKQHW© ª,VWHLQ.RPSDDQ%RUG"©IUDJWHLFK ª-D ,FK NDQQ GHQ .XUV EHVWLPPHQ $EHU ZHU VDJW PLU GD GLHVH .DUWHQ EHVVHU VLQG DOV GLH GHV %HKDLP"*DUDQWLHUW,KUPLUGDLFKGLH0ROXNNHQHUUHLFKH"© ª:HQQ,KUGLHVHQ.XUVVHJHOWGDQQHUUHLFKW,KUGLH,QVHOQ©VDJWHLFKª8QGREGLH.DUWHQULFKWLJ VLQG LFK ZHL GD DOOH DQGHUHQ .DUWHQ ]XP 7HLO IDOVFK VLQG $OOH VXFKHQ VLH QDFK GHP VDJHQKDIWHQ6GNRQWLQHQWDEHU,KU0DJKHOODQHVZHUGHW GLFKW DQ VHLQHU OHEORVHQ .VWH YRUEHLNRPPHQ ,KU ZHUGHW %HUJH DXV (LV VHKHQ GLH (XUHQ .XUV EHJOHLWHQ© 0DJKHOODQHVPXWH]ZHLIHOQ$XFKHUZDUHLQ0DQQVHLQHU=HLWNHLQ$UNRQLGH(UEHZHJWHVLFK LQQHUKDOEGHUHQJHQ*UHQ]HQGHU(UNHQQWQLVDEHUHUZDUHLQHUGHUHKUJHL]LJHQ$EHQWHXUHUGLHGLHVH *UHQ]HQ GXUFKEUHFKHQ ZROOWHQ XQG ² ZUGHQ ,FK NRQQWH QLFKW PHKU WXQDOV LKP YHUVLFKHUQ GD GLH.DUWHQHFKWZlUHQ ª1RFK HLQHV 6HxRU )HUQDQGR© VDJWH LFK QDFKGUFNOLFK ª'LH .UHX]H DXI GHU .DUWH EH]HLFKQHQ GLH 6WHOOHQ DQ GHQHQ ZLU XQV WUHIIHQ XQG (UIDKUXQJHQ DXVWDXVFKHQ ZHUGHQ ,FK ILQGH (XFK 0DJKHOODQHVXQGZHQQ,KU(XFKGDQDFKULFKWHWXQGQLFKW]ZHLIHOWZLUGGDV:HUNJHOLQJHQ:HQQ ,KU DXFK QXU HLQH 6HNXQGH IUKHU ]XUFN VHLG DOV LFK JHK|UW (XFK GHU NRVWEDUVWH .RPSD GLHVHU :HOW*LOWGLH:HWWH"© (UVDJWHKDUW ª(LQJHVFKODJHQ(GOHUYRQ$UFRQ© :LUZHFKVHOWHQHLQHQDXVGDXHUQGHQ+lQGHGUXFN(UDKQWHQLFKWGDLFKGLHVHV7UHIIHQVRUJIlOWLJ YRUEHUHLWHW KDWWH 0DJKHOODQHV ZDU PHLQ :HUN]HXJ 'DUEHU KLQDXV ZDU HU GDV :HUN]HXJ GHU *HVFKLFKWH ZLH GLH 0lQQHU YRU XQG QDFK LKP ,FK VFKlW]WH GLH =HLW GHU :HOWXPVHJOXQJ DXI HLQ -DKU HWZDV PHKU RGHU ZHQLJHU ,FK ZDU QLFKW VLFKHU RE PHLQ 3ODQ DXIJHKHQ ZUGH DQGHUH 0|JOLFKNHLWHQEHVDLFKQLFKW$OOHVZDUHLQ:DJQLV ª(XHU 6FKLII GH $UFRQ LVW HLQH PHUNZUGLJH .RQVWUXNWLRQ ,FK KDEH YRUPDOV QLH HLQH VROFKH .DUDYHOOH JHVHKHQ $EHU DOV LFK HV JHQDXHU DQVDK© VDJWH 0DJKHOODQHV VLFKWOLFK QDFKGHQNOLFKHU JHZRUGHQ ªPHUNWH LFK GD DOOHV YRP %HVWHQ ZDU -HGHV 7DX GLH OHLFKWHQ XQG GQQHQ 6HJHO GLH YLHOHQ0HVVLQJEHVFKOlJH²DOOHVLVWEHVWH$UEHLW© ª'RUWZRKHU LFK NRPPH©PHLQWHLFKªKDWPDQQHXH,GHHQXQGYLHO *HOG 'DV 6FKLII ZLUG ZLH QHX DXVVHKHQ ZHQQ ZLU ZLHGHU LQ 6DQ /XFDU HLQODXIHQ 8QG QLFKW HLQHU PHLQHU 0lQQHU ZLUG DQ 6NRUEXWHUNUDQNHQ© (UVFKOR ª:LUEUDXFKHQYLHO*OFNXQGYLHO(QHUJLH,FKGDQNH(XFKDEHULFK]ZHLIOHQRFKLPPHU© ª(XUH =ZHLIHO ZHUGHQ YHUJHKHQ PVVHQ ZHQQ ,KU VHKW GD DOOH DQGHUHQ 0|JOLFKNHLWHQ LQV 8QJOFN IKUHQ© VDJWH LFK ª,FK KDEH QXU YLHU]LJ 0DQQ %HVDW]XQJ :LU VWHFKHQ GUHL 7DJH QDFK (XFKLQ6HHVHJHOQHLQHQDQGHUHQ.XUVXQGWUHIIHQXQVDQGLHVHU6WHOOH©
ª:DQQ"© ,FKVDJWHPLWOLVWLJHP/lFKHOQ ª:HQQ,KUGLHVH%XFKWHUUHLFKWKDEWZHUGHLFK(XFKILQGHQXQGQDFKWVLQ(XUH.DELQHNRPPHQ (LQYHUVWDQGHQ"© (UEOLW]WHPLFKDQXQGNQXUUWH ª,FKZHUGHGHQ.RPSDJHZLQQHQ$WODQGH*RQR]DO\$UFRQ© ª,FKZQVFKHHV(XFK© ,FKJLQJYRQ%RUG1XUQRFKZHQLJH'LQJHZDUHQ]XNOlUHQGDQQVWDFKDXFKGLH7(55$LQ6HH $XFK GHU 1DPH GHVVHQ %HGHXWXQJ HLQ 6\PERO GDUVWHOOWH GHQQ DOOH 6HHIDKUHU VXFKWHQ GLHVHQ JHKHLPQLVYROOHQ(UGWHLOXQGZlKUHQGGLHVHU6XFKHZXUGHQXQHQGOLFKYLHOHZHLWHUH(QWGHFNXQJHQ JHPDFKW 'LH /lQGHU GHV ZHVWOLFKHQ *URNRQWLQHQWV ZXWHQ QLFKWV YRQ LKUHQ YLHOHQ 1DFKEDUQ LP 2VWHQ ,FK ZDU GXUFK PHLQH 5RERWVSLRQH ZHVHQWOLFK EHVVHU RULHQWLHUW 'LH ODQJH 5HLVH NRQQWH EHJLQQHQ 7(55$$8675$/,61&2*1,7$GHU.RQWLQHQWGHU5lWVHOZDUHLQ%HJULIIGHUMHGHQZLUNOLFKHQ 6HHIDKUHUI|UPOLFKIDV]LQLHUWH'HVZHJHQKDWWHLFKPHLQ6FKLIIVR XQGQLFKWDQGHUVJHQDQQW KDWWH%HKDLPGHQHUVWHQª(UGDSIHO©KHUJHVWHOOWLPJOHLGLHQ@DKUZDUª$PHULFD©HQWGHFNWZRUGHQ YRQ &RORQ GLH %H]HLFKQXQJ NDP YRP 1DPHQ $PHULJR 9HVSXFFLV =ZHL -DKUH VSlWHU WHLOWHQ VLFK 3RUWXJDOXQG6SDQLHQGLH:HOW3DSVW$OH[DQGHUGHU6HFKVWH]RJGHQ7UHQQXQJVVWULFK%LV]XP-DKU XPVHJHOWH9DVFRGD*DPDGLH6GNVWH$IULNDVGXUFKTXHUWHDOVHUVWHUGHQ,QGLVFKHQ2]HDQ ² HU VHJHOWH QDFK 2VWHQ HQWGHFNWH 1XQH] GH %DLERD GHQ 6WLOOHQ 2]HDQ QDFKGHP HU GHQ ,VWKPXV ]ZLVFKHQ GHQ EHLGHQ ª1HXHQ© .RQWLQHQWHQ GXUFKTXHUW KDWWH 9LHU -DKUH VSlWHU VSDOWHWH VLFKGLH DEHQGOlQGLVFKH .LUFKH QDFKGHP /XWKHU VHLQH 7KHVHQ YHU|IIHQWOLFKWH +HUQDQGR &RUWH] ZDU XQWHUZHJVXQGZUGHPLWHLQLJHU6LFKHUKHLWGLH.XOWXUHQHQWGHFNHQGLHLFKLQLWLLHUWKDWWHGDPDOV DOVGDV5DXPVFKLIIGHUIUHPGHQLQGHU6WXIHQS\UDPLGHYHUERUJHQZDU$P6HSWHPEHU JLQJ LFK PLW PHLQHU ªYHUORUHQHQ 0DQQVFKDIW© DXI GLH ODQJH 5HLVH 'DV +DXV LQ 6HYLOOD EOLHE JHPLHWHW DEHUGLH=LPPHUZDUHQIDVWOHHU
$JVDFKD VWDQG QHEHQ PLU :LU WUXJHQ OHLFKWH /HLQHQVFKXKH GQQH +RVHQ XQG OXIWLJH +HPGHQ %UHLWH *UWHO PLW ULHVLJHQ 0HVVLQJVFKQDOOHQ ZDUHQ PRGLVFKH =XJHVWlQGQLVVH DEHU VLH ZDUHQ ZLFKWLJZHQQHVJDOWVLFKLP6WXUPIHVW]XELQGHQ:LUKDWWHQDOOH6HJHOJHVHW]W GDV6FKLIIOLHIPLW DFKWHUOLFKHP :LQG XQG ODJ VFKUlJ LQ GHQ IODFKHQ :HOOHQ GHV $WODQWLNV =LVFKHQG EUDFK VLFK GDV :DVVHUDPPHVVHUVFKDUIHQ%XJ'LHJRGH$YDUUDVWDQGDP5XGHU ª$WODQ© VDJWH $JVDFKD OHLVH ª6LHK GLH 0lQQHU DQ (V LVW HLQH 0DQQVFKDIW GLH PDQ XQWHU ]ZHL *HVLFKWVSXQNWHQEHWUDFKWHQPX© $XV GHQ HKHPDOLJHQ 6NODYLQQHQ XQG 6NODYHQ ZDUHQ VHOEVWEHZXWH NOXJH 0HQVFKHQ JHZRUGHQ 6LH NRQQWHQ OHVHQ XQG VFKUHLEHQ /DQJH *HVSUlFKH PLW XQVHUHQ *lVWHQ XQG PLW PLU KDWWHQ LKUHQ +RUL]RQW ZHVHQWOLFK HUZHLWHUW 'LH HLQ]LJH 6FKZLHULJNHLW VDK LFK GDULQ GD VLFK WLQWHU GHQ HLQXQGYLHU]LJ %HVDW]XQJVPLWJOLHGHUQ ]ZHL )UDXHQ EHIDQGHQ 6LHEHQXQGGUHLLJ 0lQQHU KDWWH LFK DQJHKHXHUWXQGDXVJHUVWHW HVZDUHQDXVQDKPVORVZLOGH%XUVFKHQGLHYRUQLFKWV$QJVW]XKDEHQ VFKLHQHQ -HGHU YRQ LKQHQ ZDU QRUPDOH 9HUKlOWQLVVH YRUDXVJHVHW]W UHLI IU GHQ 5LFKWHU 8QG LFK ZXWHDOOHVYRQLKQHQXQGEHUVLH ª:HOFKH*HVLFKWVSXQNWH$JVDFKD"©IUDJWHLFK ª(V VLQG DOOHV 9HUEUHFKHU GLH ZHJHQ IQI 0DUDYHGLV MHPDQGHP GLH .HKOH GXUFKVFKQHLGHQ (V
VLQGZDVGDV6FKLIIXQGGLH.XQVWGHU6HHIDKUWEHWULIIW)DFKOHXWHXQG6SH]LDOLVWHQ(VNRPPWDXI GLFKDQPHLQ)UHXQG²YHUVWHKVWGXVLH]XQHKPHQJHKHQVLHIUGLFKGXUFKGLH+|OOH© ª,FKZHL©VDJWHLFKXQGODFKWH 'LH&RPSXWHUKDWWHQEHVWH$UEHLWJHOHLVWHW'DV6FKLIIODJ LP:DVVHUZLHHLQHGHU+RFKOHLVWXQJVMDFKWHQLQGHQ*HZlVVHUQYRQ$5.21,:LUPDFKWHQEHL QRUPDOHP 3DVVDWZLQG ZHLWDXV PHKU )DKUW DOV 0DJKHOODQHV EHL 6WXUP $OOH 7HVWV YHUOLHIHQ DXVJH]HLFKQHW XQG VRJDU =ZLHEHOQ XQG =LWURQHQ .RUQ XQG )UXFKWH ZDUHQ HLQJHODJHUW 6lPWOLFKH 1DKUXQJVPLWWHO EHVWDQGHQ DXV QlKUVWRIIUHLFKHQ XQG KDOWEDUHQ 9RUUlWHQ GLH ZHQLJ 3ODW] ZHJQDKPHQ 'LH /DGHUlXPH ZDUHQ EHVWHQV EHOIWHW XQG 6FDUURQ GHU 5RERWJHSDUG KDWWH GLH ZHQLJHQ5DWWHQJHW|WHW 6LHEHQXQGGUHLLJ0lQQHU 'D]XNDPHQ$JVDFKD6KDUPD6VDFKDQ\XQGLFK$JVDFKDXQWHUVWW]WYRQ'LHJRGH$YDUUDKDWWH GLH 0DWURVHQ DXVJHVXFKW 'DV EHGHXWHWH GD HWZD VHFKVXQGGUHLLJ 0DWURVHQ HLQHQ GDXHUQGHQ )DNWRUGHU8QVLFKHUKHLWELOGHWHQ,FKPXWHVFKRQLQGHQHUVWHQ7DJHQGHUODQJHQ)DKUWLKQHQGHQ 8PIDQJXQVHUHU$XIJDEHYRU$XJHQIKUHQ LFKZUGHUHFKWGUDVWLVFKH0LWWHOZlKOHQPVVHQ,FK ZDQGWHPLFKDQ$JVDFKDXQGVDJWHKDOEODXW ª:LU VLQG XQWHUZHJV PHLQ )UHXQG 8QVHU HUVWHV =LHO OLHJW LQ HLQHU JURHQ VHKU VFK|QHQ %XFKW 'RUWZHUGHQZLUDXI0DJKHOODQHVWUHIIHQ,FKKDEHMHW]WLQPHLQHU.DELQHHLQLJH9RUEHUHLWXQJHQ]X WUHIIHQ²KLHULVWGLH:DIIH'XEOHLEVW]ZLVFKHQ+HFNNDVWHOO5XGHUXQG%HLERRWVWHKHQ© ª1RFKLVWGLH=HLWGHU)DJHQXQG:LGHUVWlQGHQLFKWJHNRPPHQ©YHUVLFKHUWHGHUMXQJH0DXUHXQG VFKRE GLH 5HLWHUSLVWROH LQ GHQ *UWHO ,FK ZLQNWH 'LHJR XQG JLQJ KLQXQWHU LQ GLH .DELQH 6WDELOH 5DKPHQ DXV 0HWDOO KLHOWHQ GLFNH GRSSHOWH 6FKHLEHQ DXV *ODV HV ZDU KHOO IUHXQGOLFK XQG DXVJH]HLFKQHW JHOIWHW ,FK |IIQHWH HLQH .LVWH XQG YHUJHZLVVHUWH PLFK GD PLU QLHPDQG ]XVDK ² 6KDUPD XQG 6VDFKDQ\ ZDUHQ LQ GHU PLWWVFKLIIV XQWHUJHEUDFKWHQ .RPEVH XQG KDOIHQ GHP .RFK EHLP (VVHQ ,FK KRE GHQ ULHVLJHQ 6WXUPYRJHO DXV GHP *HSlFN EUHLWHWH VHLQH 6FKZLQJHQ DXV XQG VFKDOWHWH QDFKGHP LFK HLQHQ 7HLO GHU 9HUNOHLGXQJ HQWIHUQW KDWWH GDV NOHLQH .UDIWZHUN DQ 'DQQ WHVWHWHLFKQDFKHLQDQGHUGLHYHUVFKLHGHQHQ6HQGHUXQG6HQVRUHQGHU0DVFKLQHGLHXQVHUH)DKUWYRQ QXQ DQ EHJOHLWHQ VROOWH $OOH (LQ]HOWHLOH IXQNWLRQLHUWHQ DXVJH]HLFKQHW ² 4XDOLWlWVDUEHLW YRQ 5LFR XQGGHQDUNRQLGLVFKHQ0DVFKLQHQ,FK|IIQHWHGDVGRSSHOWH)HQVWHUDXVGHPLFKGLH+HFNVHHVDK JDEHLQLJH%HIHKOHPLWGHU)HUQVWHXHUXQJXQGVDJWH ª%HJOHLWH GDV 6FKLII LQ JURH +|KH 1LPP DOOH %LOGHU DXI GLH REHUKDOE GHU ,QWHQVLWlWVVFKZHOOH OLHJHQ$FKWHEHVRQGHUVDXIGLHIQI.DUDYHOOHQGHV0DJKHOODQHV8QGZDUQHYRU6WUPHQGLHGX VLHKVW© 'DV 3URJUDPP GLHVHV NQVWOLFKHQ $OEDWURV ZDU ]LHPOLFK JUR 'HU 9RJHO ZDU VHKU VFKZHU XQG GLH (QHUJLHPHQJH IU GLH ,QVWUXPHQWH UHLFKWH IU PHKUHUH -DKUH :LU EHVDHQ GLH EHVWHQ XQG JHQDXHVWHQ.DUWHQXQGDOOPHLQHUDIILQLHUWH$XVUVWXQJZDUDQ%RUG 'HU9RJHOUDXVFKWHPDMHVWlWLVFKKLQXQWHU]XGHQ:HOOHQXQGYHUKDUUWHGRUWHLQLJH0LQXWHQ'DQQ VFKUDXEWHHUVLFKODXWORVLPPHUNOHLQHUZHUGHQGLQ.UHLVHQLQGLH+|KH6FKOLHOLFKYHUVFKZDQGHU LPEODXHQ+LPPHOGHV1DFKPLWWDJHV,FKVFKORGDV)HQVWHU ª6R©VDJWHLFKODXWª(QGHDOOHU9RUEHUHLWXQJHQ$EMHW]WZHUGHLFKGLHVH)DKUWPLWXQJHWUEWHU )UHXGHJHQLHHQN|QQHQ© 'HLQ 2SWLPLVPXV LVW EHZXQGHUQVZHUW $UNRQLGH IOVWHUWH GHU /RJLNVHNWRU KlPLVFK 6HOEVW DOOH GHLQHELVKHULJHQ(UOHEQLVVHKDEHQLKPQLFKWVFKDGHQN|QQHQ ,FK QDKP GLH ]ZHLWH 3LVWROH VWHFNWH VLH KLQWHU GHQ *UWHO XQG KROWH GDQQ GLH $XI]HLFKQXQJHQ KHUYRU,FKJULQVWHDOVLFKGLHGQQH0DSSHDXIVFKOXJ GLH6FKULIWVWDPPWHYRQ6KDUPD'DQQJLQJ LFK ]XUFN DQ 'HFN ZDUI HLQHQ %OLFN DXI GHQ .RPSD XQG XQWHUKLHOW PLFK PLW 'LHJR (U ZDU EHJHLVWHUWEHLGHU6DFKHDXFKHUWUlXPWHYRP5HLFKWXPXQGYRQGHU(KUHGHU:HOWXPVHJOXQJ ª(LQH )UDJH $WODQ© VDJWH HU OHLVH ª'X KDVW GLH 0lQQHU HLQJHVWHOOW RKQH VLH ]X NHQQHQ .HLQH )XUFKWYRU0HXWHUHL"9RUhEHUQDKPHGHV6FKLIIHV"9RU'HVHUWLRQHQ"© ,FKJULQVWHEUHLW ª:DUWH GLH QlFKVWH 6WXQGH DE© VDJWH LFK ª)XUFKW" 1HLQ $EHU 9RUVLFKW GLH LPPHU EHVVHU LVW
$EHULFKKDEHYRUJHEDXW© (U OlFKHOWH VlXHUOLFK XQG NUDW]WH VLFK KLQWHU GHP 2KU (U ZXUGH DXV PLU QLFKW UHFKW VFKODX DEHU LQ]ZLVFKHQ KDWWH LFK LKQ EHU]HXJHQ N|QQHQ GD XQVHU PHUNZUGLJ VFKQLWWLJHV )DKU]HXJ WDWVlFKOLFK VFKQHOO VLFKHU XQG HUVWDXQOLFK EHZHJOLFK ZDU ZLU YHUZHQGHWHQ HLQ 9RUVHJHO GDV VLFK ZLHHLQULHVLJHU%DXFKEOlKWHXQGGLH5DKVHJHONRQQWHQDXFKEHLHLQHP:LQGYHU ZHQGHWZHUGHQGHUJHUDGHZHJVYRQ6WHXHUERUGRGHU%DFNERUGNDP ,FKEOLHEDXIGHU%UFNHVWHKHQXQGZDQGWHPLFKDQ$JVDFKD ª1LHPDQGKDWHWZDV]XWXQ$JVDFKD/DVVHDOOH0lQQHUKLHUDXIGHP'HFNDQWUHWHQ'HU.DSLWlQ KDWHWZDV:LFKWLJHV]XVDJHQ©PHLQWHLFKOHLVHª8QGZXQGHUHGLFKEHUQLFKWV© $JVDFKDZDUIHLQHQ%OLFNKLQDXILQGHQ$XVJXFNGHUXQEHVHW]WZDUXQGGDQQODFKWHHUEUHLW ª6HLWGXPLFKJHNDXIWKDVW$WODQKDEHLFKPLUGDV:XQGHUQDEJHZ|KQW© ª5HFKWVR© 6LHNDPHQDXVDOOHQ7HLOHQGHV6FKLIIHV6HFKVXQGGUHLLJ]lKOWHLFKVFKOLHOLFK6LHVWHOOWHQVLFK YRU GHQ EUHLWHQ 1LHGHUJlQJHQ DXI XQG PXVWHUWHQ $JVDFKD XQG PLFK VFKZHLJHQG /DQJVDP XQG VFKDUI EHWUDFKWHWH LFK VLH 6HFKVXQGGUHLLJ *HVLFKWHU $OOH +DXWVFKDWWLHUXQJHQ 6FKOHFKWH =lKQH XQGJXWH.OHLGXQJ LFKKDWWHVLHHLQNDXIHQODVVHQ5HODWLYVDXEHUUDVLHUWDEHUWURW]GHPHLQILQVWHUHU +DXIHQ YRQ 0HQVFKHQ 6LH DOOH NDPHQ DXV GHU XQWHUVWHQ 6FKLFKW HLQHV 9RONHV GDV QLHPDOV GLH &KDQFH JHKDEW KDWWH VHOEVWlQGLJ XQG HUZDFKVHQ ]X ZHUGHQ 6LH ZDUHQ 3URGXNWH HLQHU KDUWHQ HUEDUPXQJVORVHQ=HLWPLWZHQLJ)UHXGH,FKZXWHGDLFKHVQLFKWOHLFKWKDEHQZUGH,FKKREGLH 5ROOHGLHLFKLQGHU+DQGKLHOWXQGVDJWH ª,FKVHKH6HFKVXQGGUHLLJ0lQQHUYRUPLU-HGHUYRQHXFKLVWYRQ$JVDFKDKLHUXQGYRQ'LHJR DQJHKHXHUWZRUGHQ,FKZHLGHQQKLHULVWHVJHVFKULHEHQGDLKUDOOHQXUGXUFKHLQHQ=XIDOODXV GHU6FKOLQJHGHV+HQNHUVJHUXWVFKWVHLG© :lKUHQGVLFKGHUYROOURERWLVFKH$OEDWURVLQJURHU+|KHYRQXQVIRUWEHZHJWHZlKUHQG6FDUURQ GHU *HSDUG QHEHQ PLU DXI GHQ 3ODQNHQ ODJ EHZHJWHQ VLFK GLH 0lQQHU XQUXKLJ ,KUH $XIVWHOOXQJ lQGHUWH VLFK GLH 9RUGHUVWHQ ZLFKHQ JDQ] ODQJVDP ]XUFN ,FK VWDUUWH LQ GLH *HVLFKWHU 6LH ZDUHQ DOOHXQUXKLJDXIJHUHJWXQGYROOHU(UZDUWXQJ8QGVHKUWURW]LJ,FKIXKUIRUW ª'HU-QJVWHXQWHUHXFKLVWHLQQRWRULVFKHU'LHE'HUbOWHVWHJHK|UWHLJHQWOLFKLQGHQ.HUNHURGHU DQGHQ*DOJHQ=ZLVFKHQGLHVHQEHLGHQJLEWHVDOOHQXUGHQNEDUHQ=ZLVFKHQIRUPHQ'X*RIIKDVW GLFKYRUGHQ6FKHUJHQDXIGLH7(55$JH UHWWHWLFKNDQQZHLWHUH%HLVSLHOHQHQQHQ,KUVHKWDOOHVOLHJWNODUDXIGHU+DQG© 6LHZLVVHQQLFKWZRUDXIGXKLQDXVZLOOVWIOVWHUWHGHU([WUDVLQQ ,FK PDFKWH HLQH ZRKOEHUHFKQHWH 3DXVH ,Q HLQLJHQ *HVLFKWHUQ ]HLJWH VLFK GHXWOLFKH $QJVW 'HU .DSLWlQ HLQHV VROFKHQ 6FKLIIHV ZDU PLW 9HUDQWZRUWXQJ XQG 5HFKWHQ DXVJHVWDWWHW GLH EHU /HEHQ XQG7RG=FKWLJXQJHQRGHU$XVVHW]XQJHQHQWVFKHLGHQNRQQWHQ6FKOLHOLFKVDJWHLFKUXKLJHU ª,KU VHLG HLQH !YHUORUHQH 0DQQVFKDIW ² QLHPDQG ZLUG HLQHQ YRQ HXFK YHUPLVVHQ ZHQQ ZLU QLFKWZLHGHU]XUFNNRPPHQ:LUKDEHQYRUUXQGHLQ-DKUODQJYRQ.VWH]X.VWH]XVHJHOQYRQ ,QVHO ]X ,QVHO :LU ZROOHQ GHQ %DXFK GHU 7(55$ PLW *ROG XQG *HZU]HQ YROODGHQ :LU ZROOHQ DQGHUH 0HQVFKHQ NHQQHQOHUQHQ XQG DQGHUH /lQGHU ,KU DOOH EUDXFKW PHLQH )KUXQJ XQG LFK EUDXFKHHXFKGDPLWGDV6FKLIIVHJHOWXQGQLFKWXQWHUJHKW ,KUKDEW]ZHL0|JOLFKNHLWHQ (QWZHGHU ZHUGHQ ZLU ]X HLQHU YHUVFKZRUHQHQ 0DQQVFKDIW GLH GXUFK GLFN XQG GQQ JHKW XQG GXUFK GLH +|OOH GHU :DVVHUZVWHQ 2GHU LKU VHW]W PLFK DE ² RGHU YHUVXFKW HV ]XPLQGHVW ² LKU VWHKOW GDV 6FKLII LKU PHXWHUW RGHU WXW lKQOLFK XQVLQQLJH 'LQJH ,Q GLHVHP )DOO ZHUGHQ ZLU ZHGHU *ROGQRFKEUDXQH0lGFKHQVHKHQDEHUHLQLJHYRQHXFKVWHUEHQDQIHUQHQ.VWHQDXVJHVHW]WXQG YHUKXQJHUQG,FKYHUVSUHFKHHXFKDEHUHLQHV ZHQQZLU]XUFNNRPPHQXQGZLUNRPPHQYRU0DJ KHOODQHV]XUFNGDQQVLQGZLUDOOHUHLFK-HGHUYRQHXFKEHNRPPWHLQ)QI]LJVWHGHV*HZLQQHV GHU 5HVW LVW IU 'LHJR $JVDFKD XQG PLFK 9RQ GLHVHP *HOG N|QQW LKU HXFK HLQHQ NOHLQHQ 3DODVW EDXHQ XQG LFK ZHUGH IU HXFK DOOH GLH *QDGH GHV .|QLJV HUZLUNHQ ² LKU VHLG GDQQ DOOH IUHLH 0lQQHU© :LHGHUEOLFNWHLFKLQYHUZLUUWHDEHUIUHXGLJH*HVLFKWHU,FKPHLQWH]XVHKHQGDYLHOHGHUUDXKHQ
XQJHELOGHWHQ*HVHOOHQLKUHHLQ]LJHOHW]WH&KDQFHHUNDQQWHQ,FKVFKORODXW ª,KU KDEW PHKU DOV HLQ -DKU =HLW HV HXFK ]X EHUOHJHQ 8QG QRFK HWZDV =X MHGHU 6WXQGH VLQG $JVDFKD XQG LFK IU DOOH )UDJHQ GD .RPPW ]X XQV ZHQQ LKU 6RUJHQ 6FKPHU]HQ RGHU 3UREOHPH KDEW© %HLGHV ZDU IDOVFK ]X JURH 6WUHQJH ZLH VLH 0DJKHOODQHV YHUWUDW LQ VHLQHP EOLQGHQ (LIHU XQG (KUJHL]XQG]XJURH 1DFKVLFKW 'LH 0DWURVHQ ZDUHQ NHLQHQ .DSLWlQ JHZ|KQW YRQ GHVVHQ /LSSHQ QXU PLOGH :RUWH IO|VVHQ ZLH WURSIHQGHU +RQLJ 8QWHU GHQ HUZlKQWHQ *HVLFKWVSXQNWHQ NRQQWHQ ZLU XQVHUH ODQJH 5HLVHGXUFKIKUHQ'DVHUVWH=LHOODJDPVGOLFKHQ:HQGHNUHLV²HLQH]HUNOIWHWH%XFKWLQGLHHLQ PlLJJURHU)OXPQGHWH (LQHV 7DJHV ZLU VHJHOWHQ XQXQWHUEURFKHQ PLW GHP 3DVVDWZLQG XQG PDFKWHQ JXWH )DKUW NDP 6KDUPDLQPHLQH.DELQH,FKVDEHUGHQ.DUWHQXQGUHFKQHWHGHQ.XUVQDFK,FKVDKDXIZLQNWH XQGGHXWHWHDXIGHQ:HLQNUXJ ª:DUGDUVDJWGDHVLQHLQLJHQ6WXQGHQ6WXUPJHEHQZLUG© :DUGDU ZDUGHU6HJHOPHLVWHUGHUXQDEOlVVLJ GLH7DXHGLH $XJHQ XQG9HUVWlUNXQJHQGLH 1lKWH XQG GLH WURFNHQ HLQJHODJHUWHQ 5HVHUYHVHJHO NRQWUROOLHUWH ,FK VWDQG DXI NWH GDV 0lGFKHQ XQG UDQQWH GHQ 1LHGHUJDQJ KRFK DXI GLH %UFNH 'LHJR OPPHOWH LQ VHLQHP 6HJHLWXFKVWXKO XQG KDWWH GDV5XGHUIHVWJH]XUUW ª9LHOOHLFKW ZLUG HV LQ NXU]HU =HLW PLW GHP )DXOHQ]HQ YRUEHLVHLQ )UHXQG 'LHJR© VDJWH LFK ª:DUGDUYHUPXWHW6WXUP© 'LHJRGHXWHWHQDFKYRUQGDQQQDFKDFKWHUQ ª6LHKVWGX:RONHQ$WODQ"© ª1RFKQLFKW6HLMHGHQIDOOVEHUHLW6HJHOKHUXQWHUQHKPHQRGHUUHIIHQ]XODVVHQMD"© ª$\H.DSLWlQ© ,FKUDQQWHEHU'HFNJUWHGLH0lQQHUGLHIDXOLQGHU6RQQHRGHULP6FKDWWHQGHU6HJHOODJHQ XQGEOLHEEHL:DUGDUVWHKHQ ª:DQQVDJVWGXNRPPW6WXUPDXI"© ª,QHLQHPKDOEHQ7DJ.DQQVHLQHUYHUIHKOWXQV©VDJWHHU6HLQHVFKZDU]HQ=lKQHVDKHQDXVZLH VFKLHIH NOHLQH 6lXOHQ $OVR KHXWH YRU (LQEUXFK GHU 'XQNHOKHLW 0HLQH ,QVWUXPHQWH KDWWHQ QRFK QLFKWVDQJH]HLJWDEHULFKNRQQWHHVNRQWUROOLHUHQ,FKIUDJWHZHLWHU ª:RKHUZHLWGXGDV"© (UKREGLH6FKXOWHUQXQGJULQVWHEUHLW ª(UIDKUXQJ $XHUGHP VSUH LFK HV LQ GHQ .QRFKHQ .DSLWlQ 'DV 6FKLII LVW YHUGDPPW VFKQHOO $EHUZLUGHVHLQHQ6WXUPDEUHLWHQN|QQHQ"© ,FK]RJGLH6FKXOWHUQKRFKXQGIKOWHPLFKHLQZHQLJXQEH KDJOLFK6HLWLFKPLW7RUH6NDOODJULPVVRQJHVHJHOWZDUIUFKWHWHLFKNHLQHQ6WXUP$EHULFKZDU QLFKWVLFKHUREGLHVHV6FKLIIHLQHQ+XUULNDQDEUHLWHQNRQQWH+XQUDNHQ(LQEHLQ5LHVHQDQQWHQGLH 1DFKIDKUHQ MHQH (LQZDQGHUHU GLH EHU GHQ 1RUGSRO ZDQGHUQG LQ GHU 1lKH GHV ,VWKPXV VLFK DQJHVLHGHOWKDWWHQ²GDKHUNDPGHU1DPHIUGLHVHQWURSLVFKHQ:LUEHOVWXUP ª,FKGHQNHVFKRQ(VLVWVWDUNJHQXJXQGGHU.LHOLVWVFKZlU:LUKDEHQRIWJHEWGXZHLWZDV ]XJHVFKHKHQKDW:DUGDU"© ª,KUN|QQW(XFKDXIPLFKYHUODVVHQ.DSLWlQ©PXUPHOWHHUXQGVSXFNWHEHUGLH%RUGZDQG 'LHHUVWHQ:RFKHQGHU)DKUWZDUHQVFKQHOOYHUJDQJHQ'LH7(55$$8675$/,6,1&2*1,7$ ERWGHQ$QEOLFNHLQHVIDXOHQ6FKLIIHV QLHPDQGDUEHLWHWHPHKUDOVXQEHGLQJWQ|WLJZDU'DGXUFK GDMHGHUGHU0lQQHUHLQHJHQDXXPULVVHQH$XIJDEHZDKU]XQHKPHQKDWWHZXUGHGDVUHLEXQJVORVH )XQNWLRQLHUHQJHZlKUOHLVWHW,FKQLFNWH:DUGDU]XVFKOXJHLQHPMXQJHQ0DWURVHQDXIGLH6FKXOWHU XQG JLQJ ]XUFN ]X 6KDUPD :LU DOOH ZDUHQ SUlFKWLJ HUQlKUW EUDXQJHEUDQQW XQG JHVXQG ² ZLU ILQJHQ)LVFKHXQG]RJHQVRJDUXQVHUHLJHQHV*HPVHDXI6NRUEXWXQGDQGHUH0DQJHONUDQNKHLWHQ KDWWHQEHLXQVNHLQH&KDQFH ª.RPPWHLQ6WXUP/LHEVWHU"©IUDJWH6KDUPD ª:DKUVFKHLQOLFK© VDJWH LFK ª$EHU HUVW LQ HLQLJHQ 6WXQGHQ ,FK ZHL GD +XUULNDQH LQ GLHVHQ
%UHLWHQKlXILJVLQG:LHJHIlOOWGLUGLH)DKUWELVKHU"© 6LHOlFKHOWHPLFKDQ LQGHQOHW]WHQ:RFKHQVFKLHQVLHVFK|QHUXQGHLQZHQLJUHLIHUJHZRUGHQ]X VHLQ 6LH ZDU ZLH LFK ZXWH YLHUXQG]ZDQ]LJ $EHU QRFK LPPHU ZDU GHU 6FKDWWHQ $OH[DQGUDV ]ZLVFKHQPLUXQG6KDUPD LFKPHUNWHDEHUZLHHUGQQHUXQGZHVHQORVHU]XZHUGHQEHJDQQ ª(VLVWQXUGHU$QIDQJ©VDJWHVLHOHLVHª8QGZLUZHUGHQ]XVDPPHQGLHIUHPGHQ.VWHQVHKHQ" ,FKIUHXHPLFKDXIGHQVDQGLJHQ6WUDQGXQGGDV6FKZLPPHQLPGXUFKVLFKWLJHQ:DVVHU© ª1LFKW PHKU ODQJH 6KDUPD© VDJWH LFK OHLVH ª:LU ZHUGHQ EDOG MHQHQ ULHVLJHQ )HOVHQ HUUHLFKHQ YRQGHPLFKGLUHU]lKOWKDEH:LHVWHKWHVPLWGHP(VVHQ":LUZHUGHQYLHOOHLFKWKHXWHDEHQGNHLQH =HLWKDEHQ© 6LHWUDQNLKUHQ%HFKHUOHHUXQGYHUVSUDFK ª,FKNPPHUHPLFKGDUXP© $OV VLH GLH .DSLWlQVNDMWH YHUODVVHQ KDWWH LQ GHU ZLU EHLGH OHEWHQ NODSSWH LFK GHQ 'HFNHO HLQHU JHSROVWHUWHQ 6FKDFKWHO KHUXQWHU GLH ,QQHQIOlFKH VSUDQJ DXI XQG EHU GHP *ODV GHV PHWHRURORJLVFKHQ,QVWUXPHQWVHUVFKLHQGDV)XQNELOGDXVGHQ$XJHQGHV$OEDWURV,FKQDKPHLQLJH )HLQMXVWLHUXQJHQYRUVFKDOWHWHPHKUPDOVXQGKDWWHGDQQGDV%LOGGHV6WXUPHVDXIGHP6FKLUP(V ZDU HLQ JHZDOWLJHU :LUEHOVWXUP GHU XQV LP .LHOZDVVHU IROJWH (LQLJH %HUHFKQXQJHQ HU ZUGH LQ IQI6WXQGHQKLHUVHLQ,FKYHUVWDXWHDOOHVVLFKHULQGHQ+DOWHUXQJHQVFKORGLH0HVVLQJULHJHOGHU )HQVWHU XQG QDKP PHLQH ZDVVHUGLFKWH -DFNH DXV GHP 6FKUDQN :LU ZUGHQ KHXWH DEHQG HLQH EHVRQGHUH$UW6FKLIIVWDXIHHUKDOWHQ .XU]H=HLWVSlWHUVDJWHLFK]X:DUGDU ª(LQH:HWWH6HJHOPHLVWHU",FKVDJHGDGHU6WXUPLQGUHL6WXQGHQEHLXQVLVW:DVVFKlW]WGX"© (UVFKWWHOWHGHQ.RSI6HLQODQJHV+DDUIORJXQGXPVHLQH$XJHQELOGHWHQVLFKWDXVHQG)DOWHQ ª)QI6WXQGHQ.DSLWlQ:DVZHWWHW,KU"© ª(LQ)D5XPIUGLH0DQQVFKDIW²DEHUHUVWQDFKGHP6WXUP:DVKlOWVWGXGDJHJHQ"© ª:DVKDEHLFK"(LQLJH:DFKHQ©VDJWHHU ª(LQYHUVWDQGHQ© 'LH :HWWH VSUDFK VLFK KHUXP XQG ZLU NRQWUROOLHUWHQ GDV JDQ]H 6FKLII =ZLVFKHQGXUFK ZXUGH JHJHVVHQ GDQQ UDQQWHQ DOOH 0DQQ XQWHU 'HFN XP LKUH 6DFKHQ ]X YHUVWDXHQ 'LH /XNHQ ZXUGHQ JHVFKORVVHQ GLH 6HJHO ]XP 7HLO KHUXQWHUJHKROW 7DXH JHVSDQQW XQG 8QUXKH EUHLWHWH VLFK DXI GHU 7(55$DXV)DVWJHQDXIQI6WXQGHQVSlWHUZDUGHU6WXUPGD ª7UHLEDQNHU© ª.ODUEHL$XVEULQJHQ© ª*URVHJHOHLQKROHQVLFKHUQ© ª,QGLH:DQWHQLKUIDXOHQ+XQGH© ª6WHXHUPDQQ]ZHL*UDGQDFKEDFNERUG© ª$\H.DSLWlQ© 'DV 'HFN YHUZDQGHOWH VLFK LQ HLQ )HOG DXI GHP YLHU]LJ /HXWH XPKHUUDQQWHQ +LQWHU GHP 6FKLII UDVWH HLQH EUDXVHQGH VFKZDU]H :RONHQZDQG ZLH HLQH :DO]H KHUDQ (UVWH 5HJHQWURSIHQ VFKOXJHQ IDVWZDDJUHFKWLQGLHSUDOOJHVSDQQWHQ6HJHO 7DXHEHJDQQHQ]XVXPPHQ'DV'HFNKDOOWHYRQ%HIHKOHQZLGHU'LHJREDQGHEHQGHQ.QRWHQLQ HLQ 'RSSHOVHLO GDV DP 6WHXHUUXGHU EHIHVWLJW ZDU XQG DQ GHU 5HOLQJ ,FK ZDUI GLH -DFNH XP XQG NQ|SIWH VLH ]X 'LH EHLGHQ 0lGFKHQ UDQQWHQ LQ GLH .DSLWlQVNDMWH XQG YHUVWDXWHQ GRUW ZDV KHUXPODJ 'LH HUVWHQ 6HJHO ZXUGHQ ]XP 7HLO HLQJHKROW XQG XQWHU 'HFN JHEUDFKW HLQH 5DK ZXUGH JHILHUWXQGQXUQRFKGLHODQJHQVFKODQNHQ)RFNVHJHOVWDQGHQLP:LQG ª8QWHU'HFNZHUQLFKW]XDUEHLWHQKDW© ª'LH/XNHQGLFKW8QGDOOH%XOODXJHQ]X© ª$QNHUWDXEHOHJHQ© ª6LFKHUWGLH%RRWHXQGGLH5LHPHQ© 'DV OHW]WH /LFKW VFKZDQG 'DV %UOOHQ GHV 6WXUPHV ZXUGH ODXWHU 5HJHQVFKDXHU SUDVVHOWHQ EHU 'HFN'DPSIVWLHJYRQGHQKHLHQ'HFNVSODQNHQDXIGDQQEHU]RJGLH1lVVHGDVJHVDPWH6FKLII 'LH0DVWHQEHJDQQHQ]XlFK]HQXQGGLH7DXHVSDQQWHQVLFKDOVGHU6WXUPGDV6FKLIIYRQKLQWHQ
SDFNWH XQG DXI HLQH KDXVKRKH :HOOH VHW]WH 'DQQ NRQQWH PDQ VHLQ HLJHQHV :RUW QLFKW PHKU YHUVWHKHQ +HXOHQG XQG MDXOHQG JULII GHU6WXUP DQ (V ZXUGH IDVW QDFKWGXQNHO 'LH :HOOHQ UDVWHQ HLQKHUPLWULHVLJHQ]HUIHW]WHQ6FKDXPNURQHQ'DV6FKLIIKROWHVFKZHUEHUGDV%XJVSULHWWDXFKWH WLHI HLQ 'DQQ VFKWWHOWH VLFK GLH .RQVWUXNWLRQ XQG VFKZDPP DXI ZLH HLQ .RUNHQ 'LH 0HVVLQJEOHFKHVFKRVVHQDXVGHP:DVVHUGDV%RRWEOLHEDXIGHP.DPPGHU:HOOHXQGIHJWHPLW LKU QDFK :HVWHQ (V ZXUGH LPPHU VFKQHOOHU EOLHE LQ GHU HLQPDO HLQJHQRPPHQHQ 6FKUlJODJH XQG KLQWHUOLH HLQH NRFKHQGH VFKDXPLJH +HFNVHH 9RU GHP VFKDUIHQ JHVFKZXQJHQHQ %XJ WHLOWH VLFK GDV :DVVHU XQG ELOGHWH ]ZHL JHZDOWLJH 'UHLHFNH 7REHQG VFKOXJHQ GLH :HOOHQ ]XVDPPHQ 'HU 2UNDQ WULHE JHZDOWLJH :RONHQ PLW VLFK 6DO]LJHU 5HJHQ EHUVFKWWHWH LQ HLQ]HOQHQ OlQJHUHQ RGHU JDQ] NXU]HQ *VVHQ GDV 6FKLII XQG GLH ZHQLJHQ 0HQVFKHQ DQ 'HFN 'LH 7URSIHQ ZLUNWHQ ZLH NOHLQH 6WHLQH RGHU 6DQG ,FK EOLFNWH DQ GHQ KHOOHQ 7DXHQ HQWODQJ PXVWHUWH DXV ]XVDPPHQJHNQLIIHQHQ$XJHQNULWLVFKGLH0DVWHQXQGGLH5DKHQDEHUQLUJHQGZR]HLJWHQVLFK5LVVH RGHU %UXFKVWHOOHQ 'LH +RO]NRQVWUXNWLRQ GHV 6FKLIIHV HQWZLFNHOWH (LJHQOHEHQ GDV VLFK LQ 9HUIRUPXQJHQ ]HLJWH ,FK JULII LQ GDV 7DXZHUN XQG ]RJ PLFK PKVDP KLQEHU ]X 'LHJR 'LH )RFNVHJHOZDUHQKDUWZLH%UHWWHUXQGNLOOWHQQLFKWHLQELFKHQA ª'XXQGGHLQ9DWHUKDEWHUVWNODVVLJJHDUEHLWHW©VFKULHLFK DXV/HLEHVNUlIWHQ (UQLFNWHXQGVFKULHPLWQDVVHP*HVLFKWXQGWULHIHQGHP+DDU]XUFN ª,FK KDEH HV QLH JHJODXEW 'DV LVW GDV EHVWH 6FKLII GDV ZLU MH JH © GHU 5HVW GHV 6DW]HV ZDU XQYHUVWlQGOLFK (LQH6WXQGHODQJNQSSHOWHGLH6HHGDV6FKLIIQDFK:HVWHQ'DQQJDQ]SO|W]OLFKK|UWHDOOHVDXI :LQG5HJHQ'XQNHOKHLW6RQQHQVFKHLQEHUVFKWWHWHGLHZlVVHULJH6]HQH'LH6HHEHUXKLJWHVLFK DXJHQEOLFNOLFK =DURGHU9RUPDQQGHU*DQJVSLOO0DQQVFKDIWKHXOWHDXIZLHHLQJHWUHWHQHU+XQG ª:LUVLQGLP$XJHGHV+XUULNDQV'HU6WXUPGUHKWJOHLFK© 'LH0DQQVFKDIWNDPDQ'HFN :LUGUHKWHQGDV6FKLIIEUDFKWHQHLQHQ7UHLEDQNHUDXVGHQGHU6WXUPEHUGDVKDOEH'HFNJH]HUUW KDWWHXQGZDUWHWHQ(VZXUGHXQHUWUlJOLFKKHL'HU:LQGZHKWHEHUKDXSWQLFKWPHKU'LH6HHZDU VSLHJHOJODWW$EHUGDQQQlKHUWHVLFKZLHGHUGLHVFKZDU]H:DQGHWZDVNOHLQHUGLHVPDOVRVFKLHQHV 'LH .RQVWUXNWLRQ GHV 6FKLIIHV KDW VLFK EHZlKUW 'LH %HUHFKQXQJHQ GHU 0DVFKLQHQ ZDUHQ H[DNW VDJWHGHU/RJLNVHNWRU ,FKEHUSUIWHGLH3RVLWLRQ $OVGLH HUVWHQVFKlXPHQGHQ:HOOHQ PLWGHP EUOOHQGHQ6WXUP KHUDQUDVWHQIOOWHQVLFK NQDOOHQG GLH 6HJHO 'DV 7DX GHV 7UHLEDQNHUV HLQHU IHVWHQ HLPHUI|UPLJHQ 6HJHOWXFKWDVFKH GLH GDV 6FKLII KLQWHU VLFK KHU]RJ VWUDIIWH VLFK /DQJVDP PDFKWH GLH 7(55$ )DKUW :LU PXWHQ HWZD DXI GHP JOHLFKHQ .XUV ]XUFNVHJHLQ 'DV 6FKLII NUlQJWH VFKZHU WDXFKWH GDV NOHLQH 9RUGHUNDVWHOO WLHI LQV :DVVHUXQGULFKWHWHVLFKZLHGHUDXI'DQQULVVHQ:LQGXQG:HOOHQGLH7(55$]XUFNQDFK2VWHQ 0HKU DOV HLQH 6WXQGH ODQJ ZWHWH GHU 6WXUP XQG VFKOLHOLFK VWDQGHQ QXU QRFK GUHL 3HUVRQHQ DQ 'HFN 'LHJR:DUGDUXQGLFK1DFKXQGQDFKEHUXKLJWHVLFKGLH6HH$OVGLH6RQQHVLFKWEDUZXUGH VDQNLKUH6FKHLEHJHUDGHXQWHUGHQ+RUL]RQW,POHW]WHQ/LFKWGHV7DJHVZHQGHWHQZLUGLH7(55$ VHW]WHQDOOH6HJHO XQG KROWHQGHQ$QNHU HLQ 'DQQQDFKHLQHU ZHLWHUHQ.XUVEHVWLPPXQJOLH LFK GDV)D|IIQHQ ª+DEHLFKHV(XFKQLFKWSURSKH]HLW.DSLWlQ"©IUDJWH:DUGDUOLVWLJ ª,FK ZHUGH PLFK LQ =XNXQIW QDFK GHLQHQ 6WXUPZDUQXQJHQ ULFKWHQ $EHU ZDV LVW ZHQQ GX VFKOlIVW"© 6HLQH$QWZRUWJLQJXQWHULP*HOlFKWHUGHU0DQQVFKDIW'DV)DZDU]XNOHLQDOVGDVLFKMHPDQG EHWULQNHQNRQQWH'LH:DFKHQ]RJHQDXIXQGDOVZLUPLW/DWHUQHQDOOH,QQHQUlXPHHLQHUJHQDXHQ ,QVSHNWLRQ XQWHU]RJHQ VWHOOWH VLFK KHUDXV GD DEJHVHKHQ YRQ 6SULW]ZDVVHU XQG 5HJHQ NHLQ :DVVHUWURSIHQHLQJHGUXQJHQZDU 'LH7(55$KDWWHLKUH7DXIHEHUVWDQGHQ %HLJOHLFKPlLJJXWHP:HWWHUXQGHEHQVROFKHP:LQGVHJHOWHQZLUPLW9ROO]HXJZHLWHU'DV%LOG
GHV $OEDWURV ]HLJWH GD GLH %XFKW QRFK OHHU ZDU 0DJKHOODQHV ZDU YRQ XQV LUJHQGZR EHUUXQGHW ZRUGHQ7URSLVFKH+LW]HKHUUVFKWHLQGLHVHP'H]HPEHUDOV/DQGDXIWDXFKWH 'HU$XVJXFNVFKULHHVDXVVHLQHP.UlKHQQHVW ª,FK KDEH HV GLU HU]lKOW© VDJWH LFK XQG ]RJ 6KDUPD DQ PLFK ª'RUW LVW GHU %HUJ GHU ZLH HLQ VSLW]HUZHLHU+XWDXVVLHKW'RUWVLQG3DOPHQ'RUWZHUGHQZLUODQJHZDUWHQ© ª,FKIUHXHPLFKGDUDXI©ZDULKUH$QWZRUW 6SlWHU VROOWH LFK HUIDKUHQ GD 0DJKHOODQHV GLHVH %XFKW QDFK GHP )OX GHV +HLOLJHQ -DQXDULXV QHQQHQZUGH 5LRGH-DQHLUR :LUOLHIHQLQGLH%XFKWHLQDQNHUWHQXQGEUDFKWHQGLH%RRWH]X:DVVHU (LQHKHUUOLFKH=HLWEHJDQQ 75,1,'$' 6$1 $1721,2 6$17,$*2 &21&(37,21 XQG 9,&725,$ ² GDV ZDUHQ GLH IQI =ZHL RGHU 'UHLPDVWHU GHV 0DJKHOODQHV (U DQNHUWH DQ HLQHU DQGHUHQ 6WHOOH GHU %XFKW XQG EHUKROWH VHLQH 3ODWWH 6LH VDK ]LHPOLFK PLWJHQRPPHQ DXV GDFKWH LFK DOV LFK GLH )XQNELOGHU GHV $OEDWURV YHUJOLFK DEHU KDWWH VLFK LQVJHVDPW JHVHKHQ UHFKW JXW JHKDOWHQ $EHU GLHV ZDU QXU GLH HUVWH (WDSSH GHU ODQJHQ 5HLVH JHZHVHQ :LU KLQJHJHQ DHQ GLH 9RUUlWH DXI GLH QLFKW PHKU UHFKW KDOWEDU DXVVDKHQ OIWHWHQ GDV 6FKLII JXW GXUFK XQG ODJHUWHQ IUXFKWH XQG %HHUHQ HLQ GLH VLFK PRQDWHODQJYHUZHQGHQODVVHQZUGHQ $QVRQVWHQ WDWHQ ZLU ² QLFKWV 2GHU IDVW QLFKWV 'DV 6FKLII XQVHU NRVWEDUVWHU %HVLW] ZXUGH JHSXW]W GLH ZHQLJHQ IHKOHU ZXUGHQ EHVHLWLJW XQG DQVRQVWHQ YHUJQJWHQ ZLU XQV IDVW DOOH PLW GHQ EUDXQHQKLOIUHLFKHQXQGJHUDGH]XSURYRNDWLYOHEHQVOXVWLJHQ(LQJHERUHQHQ,FKKLQJHJHQEHPKWH PLFK,QIRUPDWLRQHQ]XVDPPHOQ
:HQQ GLHVHU $XVGUXFN JHUHFKWIHUWLJW LVW GDQQ ZDU LFK HLQ PDULWLPHU 7\S GHU (LQIOX YRQ 1LFKWVWXQRKQHYLHO9HUDQWZRUWXQJYRQ6RQQHXQGZDUPHP6FKDWWHQYRQYLWDPLQUHLFKHU1DKUXQJ XQG6DQGXQG6DO]ZDVVHUYHUlQGHUQGHQ0HQVFKHQ8QGDXFKVRJDUGHQ$UNRQLGHQ,FKIKOWHPLFK VRZRKOZLHVFKRQODQJHQLFKWPHKU'LH%H]LHKXQJHQ]ZLVFKHQ6KDUPDXQGPLUZDUHQLQ]ZLVFKHQ LQHLQ6WDGLXPJHWUHWHQGDVXQVEHLGH]XWLHIVW]XIULHGHQVWHOOWH:DVKDWWH8OULFKYRQ+WWHQDQGHQ 1UQEHUJHU 3LUNKHLPHU JHVFKULHEHQ ª2 VDHFXOXP 2 OLWHUDH -XYDW YLYHUH© ² LFK EHUVHW]WH HV PLWª2-DKUKXQGHUW2:LVVHQVFKDIWHQ(VLVWHLQH/XVW]XOHEHQ©6RHWZDIKOWHQZLUXQV6KDUPD XQG LFK :LU ODJHQ LP 6DQG XQG VFKOLHIHQ HLQHU LQ GHQ $UPHQ GHV DQGHUHQ :LU ZDUWHWHQ ELV 0DJKHOODQHVYRQXQVHUHU0DQQVFKDIWXQEHPHUNWVHLQH6FKLIIHEHUKROWH 'DQQHLQHV1DFKWVPDFKWHLFKPLFKGDYRQ ,FKULHIGHQ$OEDWURVOLH6FDUURQDXIGDV0lGFKHQXQGGDV6FKLIIDXISDVVHQKlQJWHPLFKLQHLQH 6HLOVFKOLQJHXQGOLHPLFKYRQGHP9RJHOPLWWHQLQGHU1DFKWDXIGHP+HFNNDVWHOOGHU75,1,'$' DEVHW]HQ *HUlXVFKORVNOHWWHUWHLFKKLQXQWHUXQGVWDQGSO|W]OLFKLQVHLQHU.DELQH)HUQDQGRIXKUKRFKXQG LFKVDJWH ª,FKELQHV$WODQYRQ$UFRQ© 0LW ]LWWHUQGHQ )LQJHUQ PDFKWH HU /LFKW (U VFKLHQ DEHUPDOV JHDOWHUW ]X VHLQ VHLQ *HVLFKW ZDU KDJHUHUPLWWLHIHUHQ)DOWHQXQGLP%DUWZDUHQYLHOVLOEHUQH)lGHQ(UVWDPPHOWHIOVWHUQG ª:RKHUEHLDOOHQ6HHXQJHKHXHUQNRPPW,KU$WODQ"© (U VWDUUWH PLFK DQ DOV VlKH HU HLQ *HVSHQVW ,FK EHNDP IDVW 0LWOHLG PLW LKP (U VFKWWHOWH GHQ .RSIXQGPXUPHOWH ª'HU:HJGXUFKGLH:DVVHUZVWHQLVWYROOHU)XDQJHOQXQG
+HLPWFNH:DVVHKHLFKYRUPLU"(LQHQZHLKDDULJHQ0DQQIDVWVFKZDU]JHEUDQQWJHVXQGXQG PLWZHLHQ=lKQHQ(XHU$PXOHWW"© (UGHXWHWHDXIGHQ=HOODNWLYDWRUGHUJHULQJIJLJYHUNOHLGHWZRUGHQZDU ª-D(WZDVLQGLHVHU$UW©VDJWHLFKPLW'HOLNDWHVVH (UVFKORGHQEUHLWHQ/HGHUJUWHOVHLQH)LQJHUYHUNQRWHWHQVLFK IDVW EHLGHP9HUVXFK $XI GHP 7LVFKODJHQGLH.DUWHQ,FKGHXWHWHDXIGDV.UHX]XQGVDJWH ª,KU KDEW GHU %XFKW VFKRQHLQHQ 1DPHQ JHJHEHQ ² UHFKWVR ,FK ELQ KLHU XP (XFK ]X ZDUQHQ 6HxRU)HUQDQGR© (UODFKWHNXU]XQGYROOHUWLHIHU%LWWHUNHLW ª:DUQHQ":RYRU"9RUGHP(QGHPHLQHU7DJH"6LHVLQGDOOHJHJHQPLFKGLHVH+XQGH,FKPXWH GLHVHQ6SDQLHU&DUWDJHQDLQGHQ%ORFNVFKLHHQODVVHQ'LH%HUHFKQXQJHQXQG,QVWUXPHQWHGLHVHV HOHQGHQ6WPSHUV)DOHLURWDXJHQHLQHQ'UHFN1XU3LJDIHWWDKlOWZDVHUYHUVSURFKHQKDW(ULVWGHU &KURQLVW© ,FKXQWHUEUDFKVHLQHKHUYRUJHVWRHQHQ9HUZQVFKXQJHQXQGVDJWHVFKURII ª,FKZLOO(XFKGDYRUZDUQHQHUVWHQV]XODQJHKLHU]XEOHLEHQ,P6GHQEULFKWEDOGGHU:LQWHUDQ XQG GLH 0DVWHQ (XUHU 6FKLIIH ZHUGHQ VLFK PLW GLFNHP (LV EHU]LHKHQ 8QG ]ZHLWHQV ZDUQH LFK GDYRULQMHGHU)OXPQGXQJGLH3DVVDJH]XVHKHQ6LHLVWKLHUXQGQLUJHQGZRDQGHUV© 0DJKHOODQHVVDJWH]HUVWUHXW ª(XUH.DUWHQXQGGLHGLHLFKKDEHVLHJOHLFKHQVLFKNDXP© (U KDWWH QDWUOLFK QRFK NHLQH JURH *HOHJHQKHLW JHKDEW 9HUJOHLFKH DQ]XVWHOOHQ %LVKHU KDWWH LKQ GLH )DKUW HEHQVR EHU GDV LQVHODUPH 0HHU JHIKUW ZLH XQV )U LKQ ZDU GLH |VWOLFKH .VWH ELV KLQXQWHU]XPVGOLFKHQ(QGHGHV.RQWLQHQWVYRQ,QWHUHVVH'LHVH5HLVHVWDQGLKPDXFKMHW]WEHYRU ª,KUJODXEWPHLQHU.DUWHQLFKW"©IUDJWHLFK ª,FK ZHL EDOG QLFKW PHKU ZDV RGHU ZHP LFK JODXEHQ VROO 'RFK LFK JODXEH DXFK (XUHU .DUWH $WODQ$EHUDOOHGLHDQGHUHQ© ª(LQHVVDJHLFK(XFKQRFK6HxRU*HQHUDONlSWHQ©PXUPHOWHLFKGUlQJHQGª,KUZHUGHWDXIJU|WH 6FKZLHULJNHLWHQVWRHQZHQQ,KUQLFKWGHQ:HJQHKPWGHUKLHUHLQJH]HLFKQHWLVW=X YLHO =HLW GLH 9RUUlWH ZHUGHQ VFKZLQGHQ GLH .lOWH ZLUG (XFK DOOH KHLPVXFKHQ ZHQQ ,KU QLFKW EDOGDXIEUHFKWXQGGLHVH:DVVHUVWUDHVHJHOW,FKEHVFKZ|UH(XFKWXWHV© (U QLFNWH GDQQ VDK HU KLQDXV DXI GDV VHLGHQZHLFKH :DVVHU GHU %XFKW LQ GHP VLFK GLH 6WHUQH VSLHJHOWHQ *HOlFKWHU NDP YRQ GHQ ODQJHQ (LQJHERUHQHQKWWHQ KHU 'DQQ OlXWHWH HLQH *ORFNH GLH =HLW,FKJLQJODQJVDP]XU7UXQGVDJWHOHLVH ª,FKELQGRFKGHUEHVVHUH6HHIDKUHU0DJKHOODQHV,FKZHUGHVWHWVPLW(XFKXPGLH:HWWHVHJHOQ XQGHKHUGRUWVHLQ%HWUDFKWHWGDV]ZHLWH.UHX]²ZLUWUHIIHQXQVLQGLHVHU6WUDH9LHOOHLFKWVHKW ,KUPLFKQLFKWDEHULFKELQGD© (UULDQVHLQHP%DUW ª*HKWPLW*RWW©VDJWHHUOHLVHª,KUVHLGHLQ0HQVFKGHUOHLFKWHQVFKQHOOHQ*HGDQNHQ,FKEOHLEH HLQJUEHOQGHU=ZHLIOHUPLWVFKZDU]HQ$KQXQJHQLQGHU6HHOH© ,FK|IIQHWHGLH7UXQGKREJUHQGGLH+DQG ª,KUVROOWHWKlXILJHUODFKHQ©HPSIDKOLFK'DQQVFKZDQJLFKPLFKDXIHLQH3ODQNHEDODQFLHUWHGLH EUHLWH 5HOLQJ HQWODQJ XQG IDWH QDFK GHP 6HLO GDV DQ GHQ )HQ GHV JURHQ ZHLHQ 9RJHOV EHIHVWLJW ZDU (U EUDFKWH PLFK ODXWORV VFKQHOO XQG VLFKHU ]XUFN DQ 'HFN PHLQHV 6FKLIIHV ,FK ZHFNWH6KDUPDDOVLFKPLFKQHEHQVLHVHW]WH 6LHWDVWHWHKDOELP6FKODIQDFKPHLQHU+DQG ª'XZDUVWIRUW$WODQ©IOVWHUWHVLH ª6FKODIH ZHLWHU© VDJWH LFK HEHQVR OHLVH ª:LU EUHFKHQ LQ IQI 7DJHQ DXI :LU PVVHQ YRU (LQEUXFKGHV:LQWHUVGHQDQGHUHQ2]HDQHUUHLFKWKDEHQ© 6LHK|UWHHVQLFKWPHKU ,FKOHKQWHPLFK]XUFNYHUVFKUlQNWHGLH$UPHKLQWHUGHP.RSIXQGVDKKLQDXILQGLH6WHUQH)U PLFK VFKLHQHQ VLH XQHUUHLFKEDUHU GHQQ MH ]X VHLQ ,Q]ZLVFKHQ KDWWH LFK GLHVHQ 3ODQHWHQ DXI HLQH PHUNZUGLJH$UWOLHEJHZRQQHQXQGYLHOHVHLQHU%HZRKQHUGD]X(LQHV7DJHVZUGHLFK/DUVDI,,,
YHUODVVHQ XQG PLW HLQHU $5.21)ORWWH ]XUFNNHKUHQ 'DQQ ZUGH DOOHV DXIK|UHQ 6HXFKHQ XQG .ULHJH $UPXW XQG 8QELOGXQJ 'XPPKHLW XQG (UNHQQWQLVORVLJNHLW (LQ JROGHQHV =HLWDOWHU NRQQWH DXIGLHVHUYHUVFKZHQGHULVFKHQ:HOWDQEUHFKHQ,FKVFKOLHIHLQ
'LH7(55$$8675$/,6,1&2*1,7$ZDUEDOGDXVJHUVWHW)ULVFKZDVVHUZXUGHHLQJHIOOWGLH 0DWURVHQ YHUVXFKWHQ ]XVDPPHQ PLW LKUHQ EUDXULKlXWLJHQ )UHXQGLQQHQ GHQ =HLWSXQNW GHV $EVFKLHGV KLQDXV]X]|JHUQ $EHU LFK EOLHE KDUW XQG GDPLW OHJWH LFK GHQ ZLQ]LJHQ .HLP ]X GHQ *HVFKHKQLVVHQGDYRQVSlWHU :LUVWDFKHQLQ6HH 0LW HLQHP EOLW]HQGHQ IXQNHOQGHQ 6FKLII GDV QLFKW JHOLWWHQ KDWWH 'LH VFKZHUVWH (WDSSH ODJ YRU XQV 1RFKQLFKW ª,FKZHL©PXUPHOWHLFKLQGLHbXHUXQJPHLQHV/RJLNVHNWRUVKLQHLQª'HUVFKZHUVWH3XQNWLVW GLH3DVVDJH]ZLVFKHQ6GSROXQG)HVWODQG© :LU VHJHOWHQ PLW JHVFKZHOOWHU /HLQZDQG DXV GHP QDWUOLFKHQ +DIHQ KLQDXV YRUEHL DQ GHQ IQI 1XVFKDOHQ PHLQHV VHOWVDPHQ )UHXQGHV 'DQQ NUHX]WHQ ZLU QDFK 6GHQ 7DJ XP 7DJ ZHFKVHOWHQ GLH %LOGHU GHU 8IHU )HOVHQ 6DQGNVWH XQG HQGORVH :DOGUlQGHU ZHFKVHOWHQ VLFK DE :LU EUDFKWHQ HLQ%RRWDXVXQGVFKRVVHQ:LOGILQJHQ)LVFKHVDPPHOWHQ%HHUHQXQG)UFKWHGLHKLHUEHUUHLFK ZXFKVHQ6WXQGHXP6WXQGHVFKQLWWGDVKHOOEUDXQH6FKLIIPLWGHQYLHOHQIXQNHOQGHQ0HWDOOIOlFKHQ GXUFK GDV WLHIEODXH :DVVHU $P :HFKVHO GHU 9HJHWDWLRQ PHUNWHQ ZLU GD ZLU XQV GHP JHKHLPQLVYROOVWHQDOOHUXQHQWGHFNWHQ(UGWHLOHQlKHUWHQ :RFKHQYHUJLQJHQ 'LH.DUWHQZDUHQZLHQLFKWDQGHUV]XHUZDUWHQKHUYRUUDJHQG'HU$OEDWURVVHJHOWHODXWORVKRFK EHUXQVXQGEHUPLWWHOWH7DXVHQGHYRQ%LOGHUQ,FKYHU]LFKWHWHGDUDXIVLH]XIL[LHUHQ²VLHZDUHQ QLFKWPHKUDOVGLH%HZHLVHPHLQHU9RUVWHOOXQJHQXQGPHLQHV:LVVHQV 'LH /DQJHZHLOH DQ %RUG ZDU DQ LKUHP *LSIHOSXQNW DQJHODQJW DOV LFK ZLHGHU GLH 0DQQVFKDIW ]XVDPPHQULHI 6LH HUVFKLHQ PLU HLQH 6SXU ZHQLJHU GLV]LSOLQLHUW ZHQLJHU DXIPHUNVDP 6LH VFKLHQHQ QHUY|V GLH JXWJHQlKUWHQEUDXQJHEUDQQWHQ0lQQHU 9RUVLFKW6LHVLQGYHUZ|KQWZRUGHQ$FKWHDXIDOOHNOHLQHQ$Q]HLFKHQ HVLVWY|OOLJRIIHQZDVVLH XQWHUQHKPHQZROOHQIOVWHUWHGUlQJHQGPHLQ([WUDVLQQ ª0lQQHU©ULHILFKXQGODFKWH:HQLJ(FKRPXWHLFKUHJLVWULHUHQ ª:LUNRPPHQDQGHQVFKZLHULJVWHQ3XQNWGHU5HLVH:LUKDEHQYRUXQVGLH'XUFKIDKUWGXUFKGHQ .RQWLQHQW(VVLQG6FKOXFKWHQDXV:DVVHU]ZLVFKHQNDUJHQ)HOVHQ:LUZHUGHQYLHO]XWXQKDEHQ GHQQGDV)DKUZDVVHULVWDQVWUHQJHQGXQGXQVLFKHU=XP7HLOPXHLQ%RRWYRUGHP6FKLIIUXGHUQ YRQ GHP DXV GLH 7LHIH JHORWHW ZLUG $EHU LQ HLQLJHQ 7DJHQ VLQG ZLU GXUFK GLH 3DVVDJH XQG GDQQ OLHJWHLQ2]HDQYROOHU]DXEHUKDIWHU,QVHOQYRUXQV© *RIIULHIKHUDXI ª:LUKDEHQELVKHU*OFNJHKDEWXQGEHVWHQ:LQG.DSLWlQ:DUXPPVVHQZLUGLHVH'XUFKIDKUW QHKPHQ"© ,FKHUZLGHUWH ª8P]XGHQUHLFKHQ,QVHOQ]XNRPPHQ:LUVLQGVFKRQZHLWYRU0DJKHOODQHVXQGZLUZHUGHQLKQ XPKDOEH-DKUHVFKODJHQ0RUJHQIUKZDJHQZLUGLH'XUFKIDKUW²KHXWHJLEWHVGHQOHW]WHQ5XP YRUGHQ,QVHOQ© 'DPLWZDUHQVLHIUGHQ$XJHQEOLFNVLFKWOLFK]XIULHGHQJHVWHOOW:LUIHLHUWHQHLQNOHLQHV%RUGIHVW XQGGLH6SDQQXQJZLFKHLQZHQLJ$EHULFKVWHOOWHIHVWYLHO]XVSlWQDWUOLFKGDVLFKXP*RIIXQG =DURGHQULHVLJHQ6FKLIIV]LPPHUPDQQXQGGHQGULWWHQ6WHWWHUPDQQHLQH*UXSSHJHELOGHWKDWWHGLH QLFKWVRIU|KOLFKZDUZLHVLH]XVHLQYRUJDE,FKZUGHZDFKVDPVHLQPVVHQ 'LH OHW]WH 1DFKW EUDFK DQ XQG EHLP HUVWHQ 7DJHVOLFKW VHW]WHQ ZLU GLH 6HJHO XQG lQGHUWHQ GHQ
6GNXUV -HW]WIXKUHQZLUQDFK:HVWHQ 'LH 675$66( '(6 0$*+(//$1(6 ZLH GLHVH 3DVVDJH VSlWHU HLQPDO JHQDQQW ZHUGHQ ZUGH IDOOV)HUQDQGHVLHEH]ZDQJZDUHLQ*HELHWWFNLVFKHU6WUPHEHVRQGHUVLQGLHVHU-DKUHV]HLW(WZD YLHUKXQGHUW.LORPHWHUODQJVFKOlQJHOWHVLFKHLQ*UDEHQ]ZLVFKHQGHU6SLW]HGHV(UGWHLOVXQGGHP KRFKJHNUPPWHQ6NRUSLRQVWDFKHOGHV)RUWVDW]HV(VZDUWDWVlFKOLFKDEJHVHKHQYRP,VWKPXVGHQ PDQ DP /DQGZHJ EHUVFKUHLWHQ NRQQWH GLH HLQ]LJH 3DVVDJH LQ GHU ZHVWOLFKHQ %DUULHUH YRU GHP DQGHUHQ2]HDQGHQVLHGHQ6WLOOHQQDQQWHQ:LUZXUGHQYRQHLQHP DQJHQHKP VWHLIHQ :LQG GHU PHUNOLFKH .lOWH PLW VLFK EUDFKWH PLWWHQ LQ GHQ 7ULFKWHU KLQHLQJHVFKREHQ)HOVZlQGHWDWHQVLFKDXI NDUJXQGVFKUXQGLJYROOHU6FKURIIHQXQG9RUVSUQJH 6HOWVDPH 9|JHO XQG ULHVLJH :DOILVFKH EHJOHLWHWHQ XQV HLQH :HLOH GDQQ ZDUHQ ZLU DOOHLQ (LQ ZLQ]LJHV6FKLII]ZLVFKHQ]ZHL0DXHUQGLHZLHMHQHNLSSHQGHQ)HOVHQGHUDOWHQJULHFKLVFKHQ6DJHQ XQV ]X]HUTXHWVFKHQGURKWHQ ZLUZDJWHQHVWURW]GHP6HOEVWPLU ZDU DOOHV DQGHUH DOV ZRKO EHL GHP*HGDQNHQDQGLHQlFKVWHQ7DJHXQG:RFKHQ
=HKQ.DUWHQODJHQYRUPLU ,FKKDWWHHLQHQ7LVFKDXIGHU3ODWWIRUPGHV+HFNNDVWHOOVDXIVWHOOHQODVVHQ,FKVDGDKLQWHUXQGGLH .DUWHQZDUHQQLFKWVDQGHUHVDOVIL[LHUWH)XQNELOGHUGHVNQVWOLFKHQ$OEDWURV$EHUHVZDUVHOEVWIU HLQHQ KHUYRUUDJHQGHQ .DSLWlQ GHU VHLQ /HEHQ ODQJ QLFKWV DQGHUHV WDW DOV ]XU 6HH ]X IDKUHQ VHKU VFKZLHULJYRQHLQHU.DUWHDXIGLHWDWVlFKOLFKHQ9HUKlOWQLVVHXP]XUHFKQHQGLHVLFKYRQGHU+|KH GHV 'HFNV RGHU GHV $XVJXFNV HUJDEHQ ² XQG LFK ZDU DOOHV DQGHUH DOV HLQ %HUXIVNDSLWlQ :LU QDKPHQGLH3DVVDJHPLWlXHUVWHU9RUVLFKWXQGJXWHP5FNHQZLQGDQ=ZHL0lQQHUGLHPLWGHQ VFKlUIVWHQ$XJHQEHIDQGHQVLFKLQGHQ0DVWN|UEHQ'LH%RRWHZDUHQ]X:DVVHUJHEUDFKWZRUGHQ QXUGDVNOHLQH%HLERRWQLFKWGDVDFKWHUQKLQJ ª*RII©VFKULHLFKXQGVWDQGDXIª:LHLVWGLH:DVVHUWLHIH"© *RII ZDU PLW HLQHU ]HKQN|SILJHQ 0DQQVFKDIW LP JU|HUHQ %RRW XQG VWDQG DP 5XGHU (U VDK LQV :DVVHU :lUHW HLQ KRFKDXIJHVFKRVVHQHU -XQJH PLW VFKXOWHUODQJHP VFKZDU]HP +DDU XQG HLQHP EODWWHUQDUELJHQ*HVLFKWORWHWHGLH7LHIH/DQJVDPIROJWHGLH7(55$GHPNOHLQHQ%RRW ª*HQJHQG.lSWHQ:HLWHU© :LU KDWWHQ GLH 6HJHO JHUHIIW XQG IXKUHQ QXU PLW GHQ )RFNVHJHOQ XQG HLQHP NOHLQHQ 5DKVHJHO 'LHJRVWDQGQHEHQPLUEHWUDFKWHWHGLH.DUWHQXQGGHQNOHLQHQ.RPSDXQGVFKULH ª'UHL6WULFKVWHXHUERUG© ª9HUVWDQGHQ© 'HU 5XGHUJlQJHU EHZHJWH GLH 6SHLFKHQ GHV 5DGHV :LU DOOH ZDUHQ JHVSDQQW XQG NRQ]HQWULHUW :DUGDUVWDQGDP9RUVFKLII XQG PXVWHUWH DUJZ|KQLVFK GLH 6HJHO :LHGHU |IIQHWHVLFK HLQH %XFKW HLQH ,QVHO VFKRE VLFK QDFK YRUQ 2GHU ZDU HV QXU HLQH /DQGVSLW]H" ,FK EHXJWH PLFK PLW 'LHJR XQG $JVDFKD EHU GLH EHWUHIIHQGH.DUWH'HUODQJHNUlIWLJH=HLJHILQJHU$JVDFKDVGHXWHWHDXIXQVHUH3RVLWLRQ ª+LHUVLQGZLU'LHVH,QVHOLVWNHLQH,QVHO²QDFKPHLQHU0HLQXQJQXUHLQ/DQGYRUVSUXQJ.lSWHQ $WODQ© ª6RLVWHVYHUPXWOLFK©VDJWHLFKERJGHQ.RSIQDFKKLQWHQXQGEUOOWHKLQDXI ª$XVJXFN© ª6LFKWIUHLQDFKYRUQ©NDPGLH$QWZRUW ª:HLWHU'LHJR:HVWEHL6GZHVW*LE.XUV©
'LHJR QLFNWH ZRUWORV VFKZDQJ VLFK KLQXQWHU ]XP 5XGHUJlQJHU XQG JDE VHLQH $QZHLVXQJHQ 6KDUPDOHKQWHDQGHU5HOLQJXQGKDWWHIHVWHUH+RVHQXQG/HGHUVWLHIHODQJH]RJHQ-HZHLWHUVGOLFK ZLU DENDPHQ GHVWR NKOHU ZXUGH HV 0LU VFKDXGHUWH EHL GHP *HGDQNHQ GD 0DJKHOODQHV ZRP|JOLFKPLWWHQLPVGSRODUHQ:LQWHUKLHUHLQWUHIIHQZUGH'LH6RQQHYHUVFKZDQGKLQWHUHLQHP KRFKUDJHQGHQ )HOVHQ (LQ ZHLHU %DXPVWDPP WULHE ODQJVDP YRQ HLQHP GHU 8IHU ZHJ :LU EHZHJWHQXQVODQJVDPXQGLQ=LFN]DFNNXUVGXUFKGDVVDO]LJH:DVVHU ª*RII:LHLVWGLH7LHIH"© ,FKVDKVWHXHUERUGVXQGEDFNERUGVGHU7(55$GLHDXVHLQDQGHUVWUHEHQGH.LHOVSXU:LUK|UWHQGLH OHLVHQ.RPPDQGRVGDV(LQWDXFKHQGHU5LHPHQXQGGDVbFK]HQGHU0lQQHU'DV%RRWPDFKWHJXWH )DKUW MHW]WJHULHWHVLQHLQHVWDUNHVHLWOLFKH6WU|PXQJXQGEHJDQQDE]XWUHLEHQ ª$XVUHLFKHQG9RUVLFKW:LQGYRQ%DFNERUG© ª9HUVWDQGHQ© 'LHJR XQG GLH 0DQQVFKDIW YRQ :DUGDU UHDJLHUWHQ EOLW]VFKQHOO :LHGHU HLQPDO VDK LFK PLW ZHOFKHP 6DFKYHUVWDQG 'LHJR XQG VHLQ 9DWHU GLH &UHZ ]XVDPPHQJHVWHOOW KDWWHQ -HGHU YRQ LKQHQ ZDUHLQ6SH]LDOLVWLQVHLQHP)DFK:RUWNDUJEHUOHJWXQGPLWIDVWLQVWLQNWLYVFKQHOOHQ5HDNWLRQHQ 'DV5DKVHJHOZXUGHJHUHIIWXQGGDQQJLQJGDV6FKLIIVFKZHULQGHQVHLWOLFKHQ:LQG(VOHJWHVLFK OHLFKWEHUNDPZLHGHULQGLH*HZDOWGHV5XGHUVXQGVFKRKLQDXVLQGLHQlFKVWH%XFKWGLHVLFK ZLHHLQJHZDOWLJHU.UDWHU|IIQHWH(LQ7DXIORJYRQ %RUG XQG GHU 0DQQ PLWGHP/RW ILQJ HV DXI XQGEHOHJWHHVDQGHPNOHLQHQ%RRW:LU]RJHQGLHQlFKVWHQGUHLLJ0HLOHQGDV%RRWPLWXQV ²QLUJHQGZRVFKLHQGDV:DVVHU]XIODFK]XZHUGHQ6SlWHUHLQPDONRQQWHQGLH6FKLIIHKLHUHLQH DXVJH]HLFKQHWH:DVVHUVWUDHILQGHQZHQQPDQ6LJQDOHRGHU)HXHUDXIVWHOOWHXQGXQWHUKLHOW :LUVHJHOWHQDQGLHVHP7DJVRODQJHELVZLUHLQHVHLFKWH%XFKWIDQGHQGHUHQ+DQJPRUJHQIUK DEODQGLJHQ :LQG YHUVSUDFK :LU ZDUIHQ GLH $QNHU XP QLFKW DXI /HJHUZDOO ]X JHUDWHQ $P QlFKVWHQ 0RUJHQ JLQJ HV ZHLWHU :LU HUUHLFKWHQ GHQ VGOLFKVWHQ 3XQNW XQG lQGHUWHQ XQVHUH 5LFKWXQJZLHGHUQDFK:HVW]X1RUGZHVWVSlWHUQDFK1RUGZHVW]X1RUG 'UHL:RFKHQVSlWHUHUUHLFKWHQZLUGHQ6WLOOHQ2]HDQ,QZHLWHU)HUQHODJHQGLH,QVHOQ ,FKVWHFNWHHLQHQQHXHQ.XUVDEXQGVFKLFNWHGHQ$OEDWURV]XUFN (UPHOGHWH 1RFKNHLQH6SXUYRQ0DJKHOODQHVIQI6FKLIIHQ 6FKUlJ QDFK 1RUGZHVWHQ VWHXHUQG VWLHHQ ZLU DXI GLH HUVWH GHU 7DXVHQG ,QVHOQ YRU $OV ZLU GHQ VGOLFKHQ:HQGHNUHLVHUUHLFKWHQlQGHUWHLFKGHQ.XUVQDFKJHQDX:HVW $JVDFKDVDJWHHLQHV7DJHV ª,FKKDEHGHQ(LQGUXFNGDHVXQVHUHU0DQQVFKDIW]XODQJZHLOLJZLUG:LUN|QQHQLKQHQZHGHU HLQHQ6WXUPQRFK0HHUHVXQJHKHXHUQRFK+XQJHURGHUIDXOLJHV7ULQNZDVVHUELHWHQ© ,FK VWDUUWH LKQ DQ (U PRFKWH UHFKW KDEHQ 1DFK PHLQHU %HUHFKQXQJ EUDXFKWHQ ZLU QRFK HLQH :RFKHXPGLHHUVWHQGHU,QVHOQ]XHUUHLFKHQ6LHZDULFKZXWHHVYRQGHQ$XIQDKPHQUHLFKDQ ZHLHP6DQGDQ)DKQHQXQGYRQHLQHPNOHLQHQ9|ONFKHQ(LQJHERUHQHUEHZRKQW'RUWZUGHQZLU ZLHGHUYRU$QNHUJHKHQ ª(LQH:RFKH©PXUPHOWHLFKXQGEHREDFKWHWHHLQHQ6FKZlUPIOLHJHQGHU)LVFKHGLHVLFKDXVGHP :DVVHUVFKQHOOWHQ8PXQVZDUGLHXQHQGOLFKH:HLWHGHV3D]LILVFKHQ2]HDQV%ODXPlLJEHZHJW KHLXQGZLQGDUP ª:LU VROOWHQ VLH EHVFKlIWLJHQ ZHQQ ZLU JHODQGHW VLQG© PDKQWH $JVDFKD ª'DV 6FKLII DXI GHQ 6WUDQGVHW]HQXQGSXW]HQ2GHUGHUOHL© ª,FKJODXEHGDVZUGHGDVEHVWHVHLQ©PXUPHOWHLFKª:LHYHUKlOWVLFKGLH*UXSSHXP=DURXQG *RII"© ª6LHLVWNOHLQHUJHZRUGHQDEHUKLQXQGZLHGHUK|UHLFKGXPPH%HPHUNXQJHQXQG$QVlW]HGDIU GD VLH HWZDV SODQHQ :DUGDU XQG 3HQLJLR VLQG GDJHJHQ 6LH VWHKHQ XQHLQJHVFKUlQNW DXI GHLQHU 6HLWH© ª(VZLUGHWZDGLH+lOIWHGHU0DQQVFKDIWDXIVHOWHQYRQ=DURXQG*RIIVHLQ©HUZLGHUWHLFKHUQVW ª.HLQH6RUJH'LHJR²GLHVHV3UREOHPLVWYRQDOOHQGDVNOHLQVWH:LFKWLJLVWQXUGDVLHGDV6FKLII QLFKWDQ]QGHQ©
ª'DUDXISDVVHQZLUDOOHDXI©VDJWH'LHJR :LU VDHQ PLWWHQ LQ GHU 1DFKW LQ GHU .DSLWlQVNDMWH 6lPWOLFKH %XOODXJHQ /XNHQ XQG 6FKRWWH ZDUHQZHLWJH|IIQHW'HUPLOGH1DFKWZLQGVWULFKEHUXQVHUH*HVLFKWHUXQGWURFNQHWHGHQ6FKZHL 'LHJRXQG6VDFKDQ\KDWWHQVLFKLQHLQDQGHUYHUOLHEW lXHUOLFKZDUDOOHVVWLOOXQGUXKLJ]XUYROOHQ =XIULHGHQKHLW JHGLHKHQ 'LH HLQ]LJH 6RUJH ZDU RE 0DJDOKmHV PLW VHLQHQ 6FKLIIHQ QDFKNDP GLH ULFKWLJH3DVVDJHIDQGXQGGLH*HZU]LQVHOQHQWGHFNWH 6WXQGHXP6WXQGH7DJXP7DJVHJHOWHQZLU)LVFKHXQG:RONHQ:HOOHQXQG6RQQHQXQWHUJlQJH YRQ EHWlXEHQGHU 3UDFKW ZDUHQ XQVHUH %HJOHLWHU 'HU 3DVVDW WULHE XQV YRUZlUWV 1XU HLQPDO KDWWHQ ZLU GUHL 7DJH ODQJ GUFNHQGH :LQGVWLOOH JHKDEW HLQ =XVWDQG GHU DOOH 0lQQHU EHLQDKH LQ GHQ :DKQVLQQXQGPLFK]XU5HVLJQDWLRQJHWULHEHQKDWWH,FKYHUWULHEPLUGLH=HLWGDPLWGDLFK%ULHIH PLWYLHOHQ=HLFKQXQJHQDQIHUWLJWHXQGVLHDQGLHMHQLJHQ0lQQHUDGUHVVLHUWHGLHPLUZLFKWLJJHQXJ HUVFKLHQHQ XP GLH (QWGHFNXQJ GHU :HOW YRUDQ]XWUHLEHQ ,FK ZUGH VLH DEVFKLFNHQ ZHQQ ZLU ZLHGHULQ6SDQLHQODQGHWHQ ª:RVLQGZLU"©IUDJWH6DFKDQ\OHLVH ,FK IROJWH PLW GHP *ULII GHV ]LHUOLFKHQ =LUNHOV XQVHUHU .XUVOLQLH GHUHQ 9HUODXI GXUFK ]DKOORVH DVWURQRPLVFKH XQG JHRJUDSKLVFKH %HVWLPPXQJHQ JHVLFKHUW ZDU XQG GHXWHWH DXI HLQH JHVWULFKHOWH /LQLHGLHªXQWHUKDOE©GHVWHLOHQGHQbTXDWRUVODJ ª$XI GHP VGOLFKHQ :HQGHNUHLV© VDJWH LFK ª,Q HLQLJHQ 7DJHQ VHJHOQ ZLU DQ HLQLJHQ XQIUXFKWEDUHQ,QVHOQYRUEHLGDQQNRPPHQZLU]XUHUVWHQ,QVHOJUXSSH:LUVXFKHQGLHVFK|QVWHYRQ DOOHQKHUDXVXQGZHUIHQ$QNHU9LHOOHLFKWLQGHU/DJXQH© 'LHJRNQXUUH ª:DVEHLPHQGORVHQ2]HDQLVWHLQH/DJXQH"© ,FKHUNOlUWHHVLKPXQGHUQLFNWHVFKOLHOLFK6KDUPDOHKQWHVLFKDQPHLQH6FKXOWHUXQGVFKWWHWH :HLQLQGLH%HFKHU:LU ]RJHQGLH)ODVFKHQDQGQQHQ7DXHQKLQWHUGHP6FKLIIKHU GHU:HLQZDUZXQGHUEDUNKO6HOEVW XQVHU *HPVHJHGLHK KLHUSUlFKWLJ 1RFK LPPHUNHLQ )DOO YRQ6NRUEXW1XULFKZDUPHKUPDOV LQ $NWLRQ JHWUHWHQ KDWWH 3UHOOXQJHQ EHVHLWLJW :XQGHQYHUQlKW XQG ]DKOORVH $EVFKUIXQJHQ YHUVRUJW XQG HLQJHZDFKVHQH 1lJHO KHUDXVJHWUHQQW $JVDFKD VFKZHQNWH GHQ :HLQ LQ VHLQHP %HFKHU XQG HUNOlUWH ª:HQQZLUODQJHJHQXJEOHLEHQN|QQWHQZLUDXI(QWGHNNXQJJHIDWVHLQ'LH9|ONHUDXIGLHVHQ ,QVHOQKDEHQVLFKHUDQGHUH%UlXFKHDOVGLH6SDQLHUXQGGLH0DXUHQ© ª0LWJURHU6LFKHUKHLW©VDJWHLFKODXWª9LHOOHLFKWVLQGVLH0HQVFKHQIUHVVHU© 9LHOH GLHVHU ,QVHOQ ZXUGHQ YRQ DQGHUHQ 9|ONHUQ DQJHODXIHQ +LHU WULHE HLQH +lOIWH GHU :HOW +DQGHO RKQH GD GDV $EHQGODQG GDYRQ HLQH $KQXQJ KDWWH ,FK ZROOWH EHLGH .XOWXUNUHLVH ]XVDPPHQIKUHQ :lKUHQG ZLU XQV XQWHUKLHOWHQ VHJHOWH GLH 7(55$ ZHLWHU GXUFK GLH 1DFKW (V ZDUHLQH]DXEHUKDIWH6WLPPXQJ 'LHJRVFKOXJPLWGHUIODFKHQ+DQGDXIGLHJURH.DUWHGLHDXIGHP7LVFKODJXQGVDJWH ª(VVLQGZLUNOLFK7DXVHQG,QVHOQ$WODQ)DKUHQZLUVLHDOOHDQ"© ª,FKNHQQHQXUZHQLJHYRQLKQHQ©HQWJHJQHWHLFKª$EHUZLUKDEHQJHQJHQG=HLW:LUZHUGHQLQ YLHOHQ%XFKWHQYRU$QNHUJHKHQ© 'DVª0lU3DFLILFR©ZLH0DJKHOODQHVGLHVHVGOLFKH6HHQDQQWHZDU]ZLVFKHQGHQ.RQWLQHQWHQ GHU1HXHQ:HOWXQGGHP|VWOLFKHQ5DQGGHVDEHQGOlQGLVFKHQ.RQWLQHQWVEHUVlWPLW,QVHOJUXSSHQ 9LHOH YRQ LKQHQ ZXWH LFK ZDUHQ YXONDQLVFKHQ 8UVSUXQJV 0HLQH )DKUW ZUGH DQ YLHOH 6WUDQGH IKUHQ ² XQG EHUDOO ZUGHQ ZLU $EHQWHXHU HUOHEHQ 'DV ZDU HLQHV GHU ZHQLJHQ 0LWWHO PHLQH 6HKQVXFKWQDFK$5.21]XXQWHUGUNNHQ ª:LUZHUGHQGDQQZLHGHUXQWHU3DOPHQVFKODIHQ©IOVWHUWH6KDUPD 1HEHQ XQVHUHU KHXWLJHQ 3RVLWLRQ ZDU GHU 6HSWHPEHU HLQJHWUDJHQ 1DFK PHLQHU %HUHFKQXQJ KlWWH GHU 3RUWXJLHVH LQ VSDQLVFKHQ 'LHQVWHQ VFKRQ OlQJVW DXI PHLQHQ )HUVHQ VHLQ PVVHQ$EHUXQVHU6FKLIIZDUGRFKVFKQHOOHUXQGLFKULFKWHWHPLFKQDFKGHQULFKWLJHQ.DUWHQ :LUZDUHQDOOHHWZDVGHV6HJHLQVPGH 'LHJR VFKOLHI EDOG DP 7LVFK HLQ $JVDFKD EOLFNWH DXI GLH 6SLHJHOXQJHQ GHV 0RQGHV DXI GHP
:DVVHU'LHYHUWUDXWHQ(LJHQJHUlXVFKHGHV6FKLIIHVZDUHQ]XK|UHQGDV=LVFKHQGHU%XJZHOOHXQG GDV *XUJHOQ XQG 3OlWVFKHUQ GHU +HFNVHH GDV .QDUUHQ GHU :DQWHQ XQG GDV 6FKQDUFKHQ GHU 6FKODIHQGHQ 6FKOLHOLFKIDQGHQZLUGLH,QVHOGLHZLUXQEHZXWJHVXFKWKDWWHQ 7DJHVSlWHU ª=XPGULWWHQPDO/DQGLQ6LFKW%DFNERUGYRUDXV©VFKULHGHU$XVJXFN'DQQJHULHWHUY|OOLJLQ $XIUHJXQJXQGEUOOWH ª,FKVHKH3DOPHQXQG5DXFKYRQ)HXHUQ8QGJHZDOWLJH%UHFKHU© ,FK ]RJ PHLQ )HUQJODV DXVHLQDQGHU XQG VSlKWH LQ GLH EHWUHIIHQGH 5LFKWXQJ :LU KDWWHQ GLH HUVWH HLQHU,QVHOJUXSSHHUUHLFKWGLHJHQDXDXIGHP:HQGHNUHLVODJ,FKVFKULH]XUFN ª:LUODXIHQGLH,QVHODQ:DUGDU'LHJR6WHXHUWGLH,QVHODQ© ª9HUVWDQGHQ© 'LH :HOW YLHOHU ,QVHOQ LFK QDQQWH VLH LQ]ZLVFKHQ 3RO\QHVLHQ XQG YHUZHQGHWH JULHFKLVFKH :RUWVWlPPH EHJDQQ KLHU PLW LKUHP lXHUVWHQ |VWOLFKHQ (QGH 1RFK HLQ SDDU XQLQWHUHVVDQWH ,QVHOFKHQ ZDUHQ GHP HWZD GUHLHFNLJHQ *HELHW YRUJHODJHUW 'UHL +DXSWGLDOHNWH EHKHUUVFKWH LFK QLFKW PHKU =X LQWHQVLYHUHQ 6WXGLHQ ZDU LPPHU QRFK =HLW 'DV 6FKLII VFKZDQNWH DOV GHU .XUV JHlQGHUW ZXUGH /DQJVDP ZXFKV GLH ,QVHO DXVGHP 0RUJHQGXQVW 6FKRQ VHQGHWH GHU $OEDWURV GLH HUVWHQ %LOGHU XQG LFK HQWGHFNWH LP 5LQJ GHU .RUDOOHQIHOVHQ UXQG XP GLH /DJXQH GLH VFKZHUHQ %UHFKHU GHU %UDQGXQJ 1XU HLQH VFKPDOH (LQIDKUW ZDU YRUKDQGHQ 1RFK WLHIHU QRFK EHVVHUH 6FKlUIHHLQVWHOOXQJ ² LFK NRQQWH NHLQH )HOVHQ XQWHU GHP :DVVHU HQLGHNNHQ $OVR EUDXFKWHQ ZLU QLFKW$QJVW]XKDEHQGD.LHOXQG5XGHUGHU7(55$DXIVDHQXQGEUDFKHQ ª1HXH'LUHNWLRQ:LUPVVHQJHQDXYRQ1RUGHQHLQODXIHQ/HLWHWHLQH:HQGHHLQ0lQQHU©ULHI LFK 'LH ,QVHO ZXUGH GHXWOLFKHU XQG JU|HU 6LH ZLUNWH ZLH HLQH IODFKH JUQH 6FKHLEH KRFK JHZ|OEW GLH DXI GHP VSLHJHOQGHQ :DVVHU ODJ ,Q GHU 0LWWH ZDU GHU :DOG GLFKW XQG GXQNHO XQG QDKH GHP 6WUDQGVDKHQZLUHLQ]HOQH3DOPHQ'LH7(55$VFKZDQJKHUXPGLH6HJHONQDWWHUWHQGDQQOHJWHVLH VLFKOHLFKWJHJHQGHQ:LQGXQGVFKRDXIGLH(LQIDKUW]X ª'LHJR© (U ZDU DXJHQEOLFNOLFK QHEHQ PLU XQG EHXJWH VLFK EHU GLH .DUWH 'HU NOHLQH %LOGVFKLUP ZDU ZLHGHUDXVJHVFKDOWHWZRUGHQ ª-D"© ª+LHULVWHLQHVFKPDOH(LQIDKUW:LUN|QQHQDQNHLQHUDQGHUHQ6WHOOHGXUFKGHQ%UDQGXQJVULQJ² ZLUPVVHQJHQDXKLHUKLQGXUFK'HU.LHOGHV6FKLIIHVGDUIQLFKWDXIVLW]HQGDV5XGHUPXJHQDXLQ GHU 0LWWH GHU VFKPDOHQ )DKUWULQQH VWHKHQ 1RWIDOOV PVVHQ ZLU GLH 7(55$ PLW GHQ %RRWHQ KLQHLQ]LHKHQXQGPLW7URVVHQVLFKHUQ© 'LHJRODFKWHNXU]XQGHUNOlUWHVWRO] ª,FK KDEHGDV6FKLIIELVKLHUKHUJHVWHXHUWLFKZHUGHHVDXFK]LHOVLFKHU GXUFKGLH(LQIDKUWLQGLH !/DJXQH EULQJHQ© ,FKKREGLH6FKXOWHUXQGHUNOlUWH ª,FKZHL© ª'XKDVWGLH9HUDQWZRUWXQJ© (U O|VWH GHQ 0DQQ DP 5XGHU DE :LU EHPDQQWHQ DOOH 3RVWHQ PDFKWHQ GHQ $QNHU NODU EHL $XVZHUIHQ'HU$XVJXFNVFKULHXQDXIK|UOLFKVHLQH%HREDFKWXQJHQ(LQLJH6HJHOZXUGHQHLQJHKROW 'DV 6FKLII ULFKWHWH VLFK ZLHGHU DXI GLH 0DVWVSLW]HQ ZLHVHQ JHUDGH LQ GHQ ZRONHQORVHQ +LPPHO (LQH+DLILVFKIORVVHGXUFKVFKQLWWGDV:DVVHU-HW]W]HLJWHQVLFKGLHHUVWHQ(LQJHERUHQHQ6LHUDQQWHQ DQV 8IHU KLQDXV XQG ZLQNWHQ 6LH VFKREHQ $XVOHJHUNDQXV LQV :DVVHU XQG ULVVHQ GLH 3DGGHO KRFK 8QVHU 6FKLII QlKHUWH VLFK GHU (LQIDKUW ]ZHL 0lQQHU OLHIHQ QDFK YRUQ XQG ZLHVHQ 'LHJR GHQ JHQDXHQ .XUV (U GUHKWH LQ GHQ OHW]WHQ IQI]LJ0HWHUQ ZLH EHVHVVHQ DP +DQGUDG ZDUI GDV 5XGHU KHUXP/HLFKWZLHHLQNOHLQHV%RRWJHKRUFKWHGDV6FKLII(VKREVLFKPLWGHU%UDQGXQJJHQDXDXI GLH(LQIDKUW]X(VZXUGHVFKQHOOHU,FKHUZDUWHWHHLQ.QLUVFKHQXQG.UDFKHQ]XK|UHQXQGPHUNWH ZLHVLFKPHLQH)lXVWHEDOOWHQ6FKZHLOLHI]ZLVFKHQGHQ6FKXOWHUEOlWWHUQKHUXQWHU'DQQSDVVLHUWHQ
ZLU GLH EUHFKHQGH :RJH ZXUGHQ KRFKJHVFKREHQ XQG DEJHVHQNW ² XQG GDV 6FKLII JOLWW ODQJVDP XQGUXKLJLQVVWLOOH:DVVHUGHU/DJXQH ª:LUVLQGGD6LHNRPPHQ]XP6FKLII© ª6HJHOKHUXQWHU6FKLIIGUHKHQEUHLWVHLWV]XP6WUDQG$QNHUIDOOHQ© 'LH HLQ]HOQHQ 0DQ|YHU JLQJHQ PLW lXHUVWHU 3Ul]LVLRQ YRU VLFK 'LH 0lQQHU ZDUHQ EHVWHQV DXIHLQDQGHU HLQJHVSLHOW 'HU HUVWH $QNHU ILHO GLH .HWWH UDVVHOWH GDQQ OLHI GLH 7URVVH DE 0lQQHU WXUQWHQ LQ GLH :DQWHQ 5DKHQ ZXUGHQ KHUXQWHUJHODVVHQ 7DXH EHOHJW 'LH )RFN NODWVFKWH DXIV 9RUGHFN'HU]ZHLWH$QNHU HUVDIHVW0LQXWHQVSlWHUK|UWHLFKGHQGXPSIHQ*HVDQJGHU0lQQHU GLHGDVZDDJUHFKWOLHJHQGH*DQJVSLOOGUHKWHQ'LH$QNHUOHLQHQVSDQQWHQVLFKXQGVFKOLHOLFKDOV GLHHUVWHQ.DQXVDQGLH%RUGZDQGVWLHHQODJGLH7(55$$8675$/,6,1&2*1,7$UXKLJLQGHU IDVWNUHLVUXQGHQ/DJXQH ª:LU KDEHQ GLH ZXQGHUEDUHQ ,QVHOQ HUUHLFKW (V OHEH .DSLWlQ $WODQ© VFKULH :DUGDU YROOHU %HJHLVWHUXQJ 'LH 0lQQHU VFKULHQ XQG MXEHOWHQ XQG GLH (LQJHERUHQHQ VFKULHQ IU|KOLFK PLW :LU ZDUHQ PLW HLQLJHU6LFKHUKHLWGLHHUVWHQ0HQVFKHQDXVHLQHPJDQ]DQGHUHQ7HLOGHU:HOWGLHVLHVDKHQ1LFKW DQGHUVHUJLQJHVXQV 6WULFNOHLWHUQ IORJHQ EHU 'HFN 'LH VFKODQNHQ ELV DXI HLQHQ /HQGHQVFKXU] QDFNWHQ 0lQQHU HQWHUWHQ KHUDXI (LQ 6FKQDWWHUQ XQG 'LVNXWLHUHQ EHJDQQ NHLQHU YHUVWDQG GHQ DQGHUHQ 'LH HUVWHQ 7DXVFKJHVFKlIWH ZXUGHQ XQWHUQRPPHQ ² )UFKWH ODJHQ DXI GHP 'HFN 0HVVHU ZHFKVHOWHQ GLH %HVLW]HU XQG LFK VFKOR PHLQH .DMWH DE ZHLO LFK EHIUFKWHWH GLH (LQJHERUHQHQ ZUGHQ PHLQH ZHUWYROOHQ,QVWUXPHQWHEHVFKlGLJHQ $P$EHQGZDUGDV6FKLIIIDVWYHUODVVHQ :LU ZDUHQ DP 6WUDQG DHQ DOOHUOHL JHU|VWHWH )UFKWH 6FKZHLQHIOHLVFK WUDQNHQ 3DOPZHLQ XQG ZXUGHQ YHUJQJWHU XQG OXVWLJHU 8QDXVEOHLEOLFK XQG JDQ] QRUPDO ZDU HV GD GLH KHOOEUDXQHQ 0lQQHU XQVHUH EHLGHQ 0lGFKHQ EHVWDXQWHQ XQG XQVHUH 0DWURVHQ GLH KDOEQDFNWHQ 0lGFKHQ GHU (LQJHERUHQHQ ,FK KDWWH QRFK YRU 9HUODVVHQ GHV 6FKLIIHV MHGHP PLW $XVSHLWVFKHQ XQG .LHOKROHQ EHGURKW GHU VLFK VFKOHFKW EHQHKPHQ ZUGH ² ZLU ZDUHQ GLH *lVWH XQG DOOH DQGHUHQ %HVXFKHU ZUGHQQDFKXQVHUHP9HUKDOWHQEHXUWHLOWZHUGHQ 6SlWQDFKWVVFKZDPPHQ6KDUPDXQGLFK]XUFN]XP6FKLIIXQGO|VWHQGLH:DFKHQDE:LUZDUHQ DEJHVHKHQ YRQ 6FDUURQ DOOHLQ DXI GHP 6FKLII 'LH =HLW GHU (QWGHFNXQJHQ XQG $EHQWHXHU NRQQWH DQEUHFKHQ 8QGGLH=HLWLQGHUGDV6FKLIIEHUKROWZHUGHQPXWH (LQHQ7DJVSlWHU]RJHQZLUGDV6FKLIIDQGHQ6WUDQG:LU KDWWHQ HLQHQ NOHLQHQ .DQDO DXV 6DQG DXVJHKREHQ LKQ SURYLVRULVFK DEJHGLFKWHW XQG DOV GLH )OXW NDP OHJWH VLFK GDV 6FKLII YRQ :LQGHQ XQG )ODVFKHQ]JHQ EHZHJW OHLFKW DXI GLH 6HLWH 8P HV IORWW]XPDFKHQEUDXFKWHQZLUQXUHLQHKRKH)OXWDE]XZDUWHQ )DVWDOOH$XVUVWXQJVJHJHQVWlQGHZXUGHQDQGHP6WUDQGJHVWDSHOWXQGEHZDFKW QDFKGHQHUVWHQ )lOOHQYRQSO|W]OLFKDXVEUHFKHQGHU1HXJLHUGHHQWSXSSWHQVLFKGLH,QVXODQHUDOVJHERUHQH6HHIDKUHU XQGKDOIHQXQVPLW5DWXQG7DW'DQQEHJDQQGHU*URWHLOGHU0DQQVFKDIWGLH0HVVLQJSODWWHQGHV 8QWHUZDVVHUWHLOV]XVlXEHUQ6LHZDUHQEHZDFKVHQVWXPSIJHZRUGHQXQGLFKKDWWHPLQGHVWHQVGUHL :RFKHQ=HLWPHLQ9RUKDEHQXQGPHLQ9HUVSUHFKHQZDKU]XQHKPHQ 1XUZHQLJHZUGHLFKHLQZHLKHQ
'DV NOHLQH %HLERRW GDV QDFK PHLQHQ HLJHQHQ $QJDEHQ LQ HLQHP 6FKXSSHQ GHU $YDUUD:HUIW JHEDXWZRUGHQZDUHQWKLHOWHLQ*HKHLPQLV-HW]WZDUHVQRFKQLFKWVLFKWEDU $JVDFKDVWDQGDXIGHP JHVFKORVVHQHQ 9RUGHFN XQG NRQWUROOLHUWH XQVHUH $XVUVWXQJ /DQJH 5LHPHQ HLQ VFKODQNHU 0DVW XQGGLHJHVSDQQWHQ:DQWHQGLHLQ6HJHOVlFNHQYHUSDFNWHKDOEDXV6HLGHEHVWHKHQGH%HVHJHOXQJ OLHHQ GDV %RRW ZLH HLQ 0LQLDWXUVFKLII DXVVHKHQ 6RUJIlOWLJ YHUVWDXWHQ ZLU 1DKUXQJVPLWWHO XQG )UFKWH:DVVHUVlFNHXQGDOOHUOHL*HUlW]XP7HLODXVPHLQHUDUNRQLGLVFKHQ$XVUVWXQJVWDPPHQG
ª)HVWH .OHLGXQJ IU 6KDUPD IU PLFK GX KDVW VLH EHUHLWV HLQJHSDFNW 1DKUXQJVPLWWHO VLQG NRPSOHWW© VDJWH $JVDFKD ,Q]ZLVFKHQ VDK HU PHKU DOV DEHQWHXHUOLFK DXV 6HLQH /HLQHQKRVH ZDU DXVJHIUDQVW YRQ 6HHZDVVHU XQG 6RQQH DXVJHEOHLFKW 6HLQ +DDU ZDU OlQJHU JHZDFKVHQ XQG YRQ HLQHP EUHLWHQ /HGHUEDQG JHKDOWHQ 'HU /HGHUJUWHO ZDU ZlKUHQG GHU ODQJHQ )DKUW EXQW EHVWLFNW ZRUGHQ PDXULVFKH 0RWLYH ZDUHQ ]X HUNHQQHQ 6KDUPD XQG LFK VWDQGHQ LKP QLFKW YLHO QDFK 1XU KlWWH LFK PLU YRQ GHP 0lGFKHQ GDV +DDU NU]HU VFKQHLGHQ ODVVHQ ,FK VFKZLW]WH XQJHUQ :LU UVWHWHQHLQLJH7DJHODQJGDV%RRWDXV (LQHV 1DFKWV HQWHUWH LFK GLH 7(55$ XQG EHIHVWLJWH LQ YLHU 9HUVWHFNHQ ZLQ]LJH 0LNURSKRQH GLH DQPLOOLPHWHUJURH6HQGHUDQJHVFKORVVHQZDUHQ'LH%DWWHULHQUHLFKWHQIU]ZHL0RQDWH ,Q GHU .DSLWlQVNDMWH QDKH GHV (LQJDQJHV GDQQ VFKOLFK LFK ]XP 5XGHU XQG YHUVHQNWH GDV 0LNURSKRQ LQ GDV +RO]JHUVW GHU 1DUEH GDV GULWWH NDP LQ GLH NOHLQH 0DQQVFKDIWPHVVH GDV YLHUWH",FKHQWVFKORPLFKVFKOLHOLFKHVDP*HOlQGHUGHU%UFNHDQ]XEULQJHQ 'HQ ZLQ]LJHQ (PSIlQJHU VWHFNWH LFK LQ HLQH *UWHOWDVFKH ,FK JULQVWH LQ GHU 'XQNHOKHLW XQG VSUDQJZLHGHUKLQXQWHULQGHQ6DQG (WZD YLHU :RFKHQ ODQJ ZUGH GLH 0DQQVFKDIW YRQ 6FDUURQ 'LHJR XQG :DUGDU EHDXIVLFKWLJW QRFK]XWXQKDEHQHKHGDV6FKLIIZLHGHUNODUZDU6RODQJHKDWWHLFKQLFKWV]XEHIUFKWHQ $XV GHU 'XQNHOKHLW ]ZLVFKHQ ]ZHL 3DOPHQVWlPPHQ O|VWH VLFK HLQH KRFKJHZDFKVHQH VFKODQNH *HVWDOW $FKWXQJZDUQWHGHU([WUDVLQQ ,FKIXKUKHUXPPHLQH+DQGVFKORVLFKXPGHQ*ULIIGHU:DIIH'DQQKREGHU0DQQGLHUHFKWH +DQG(VZDU$UXDQRGHU$QIKUHUGHVGUHLKXQGHUWN|SILJHQ6WDPPHVDXIGLHVHU,QVHO ª)UHXQG$WODQ©VDJWHHUOHLVHª,FKKDEHGLFKJHVHKHQ'XNDPVWYRQIHUQKHUXQGGXZLOOVWHLQH 5HLVHPDFKHQPLWGHLQHPNOHLQHQ6FKLII6ROOHV]XGHQDQGHUHQ,QVHOQJHKHQ"© 1HEHQHLQDQGHUJLQJHQZLUODQJVDP]XGHU6WHOOHDQGHUGDV%RRWODJKDOEDXIGHQZHLHQ6WUDQG KLQDXIJH]RJHQ 'HU 0DVW ELOGHWH LP 0RQGOLFKW HLQHQ ODQJHQ 6FKDWWHQ ZLH HLQ 8KU]HLJHU 'LH 7(55$VDKDXVZLHHLQJLJDQWLVFKHU6FKHUHQVFKQLWW ª,FK JHKH IU HLQHQ 0RQGZHFKVHO RGHU HLQ SDDU 7DJH PHKU ZHJ 'X KDVW UHFKW JHK|UW $UXDQR $EHUQLFKW]XGHQDQGHUHQ,QVHOQ© (UQLFNWHXQGIUDJWH ª'HLQH0lQQHU²VLHEOHLEHQKLHU"© ª-D©VDJWHLFKª+DOWHQVLHVLFKDQGLH7DEXVGHLQHV6WDPPHV"%HOlVWLJHQVLHHXFK"© (U VFKWWHOWH ODQJVDP GHQ .RSI 6HLQH WLHIH %DVWLPPH YHUZDQGHOWH GLH 6SUDFKH YROOHU VFKQHOO ZHFKVHOQGHU9RNDOHJDQ]HLJHQWPOLFK'DQQVDJWHGHU+lXSWOLQJ ª:HQQVLHXQVVW|UHQGDQQQLFKWDXVE|VHP:LOOHQ,FK KDEHJHQXJ0lQQHUKLHUXPLKQHQ]XVDJHQZDVUHFKWHQVLVW© (U ZDU HLQ 0DQQ ZLH $JVDFKD VWRO] NHU]HQJHUDGH XQG KDUW 8QG GD]X HLQ 7DXFKHU GHVVHQ /HLVWXQJHQNDXPHLQHUGHUMQJHUHQ0lQQHUEHUERW,FKVDJWHVFKOLHOLFK ª9LHOOHLFKW ELQ LFK ]ZHL 0RQGH ODQJ IRUW 6ROOWHQ PHLQH 0lQQHU YHUVXFKHQ PLW GHP 6FKLII XQG RKQHPLFKIRUW]XVHJHOQGDQQKDOWHVLHDXI²DEHURKQHHLQHQHLQ]LJHQJHVSDOWHQHQ6FKlGHOMD"© :LU VFKWWHOWHQ XQV GLH +lQGH XQG HU YHUVFKZDQG ZLHGHU LQ GHU 'XQNHOKHLW ,FK XPUXQGHWH GDV NOHLQH %RRW EHUGDFKWH DOOHV QRFK HLQ IQIWHVPDO XQG OHJWH PLFK GDQQ DXI GLH GQQHQ 'HFNHQ LQ GHQ6DQG'DV*HUlXVFKGHUIHUQHQ%UDQGXQJEHJOHLWHWHPLFKLQGHQ6FKODI$PQlFKVWHQ0RUJHQ VWDQG LFK LQPLWWHQ HLQHU *UXSSH 6LH EHVWDQG DXV 'LHJR GH $YDUUD 6VDFKDQ\ 4XLWR GHP 6HLOVFKOlJHU:DUGDUXQG=DURGHPGULWWHQ6WHXHUPDQQ ª)UHXQGH© VDJWH LFK OHLVH XQG HLQGULQJOLFK ªLFK VHJOH MHW]W QDFK 2VWHQ XP HLQLJH NOHLQH (QWGHFNXQJHQ]XPDFKHQ'LHJRLVWPHLQ6WHOOYHUWUHWHU6HLQ6WHOOYHUWUHWHUZLHGHUXPLVW=DURGHU 0DQQDP*DQJVSLOO9LHOOHLFKWELQLFKYLHU:RFKHQK|FKVWHQVDEHUDFKW:RFKHQZHJ0HUNWHXFK ²LFKZHLIDVWDOOHVZDVLQPHLQHU$EZHVHQKHLWJHVFKLHKW'DV6FKLIIZLUGEHVWHQVDXVJHUVWHWLQ GHU /DJXQH YHUDQNHUW :LU VWDUWHQ ZLHGHU VREDOG LFK ]XUFNNRPPH :LU KDEHQ 0DJKHOODQHV XP /lQJHQJHVFKODJHQ© =DURHUNXQGLJWHVLFK
ª8QGZHQQ,KU.DSLWlQ(XUH)UHXQGLQXQG(XHU)UHXQGZHQQ,KUQLFKWPHKU]XUFNNHKUW"© ªZLUG'LHJRGH$YDUUDPLWHLVHUQHU6WUHQJHGRUWIRUWIDKUHQZRLFKDXIJHK|UWKDEH(UZHLXQG NDQQ DOOHV 8QG LKU ZHUGHW LKP JHKRUFKHQ GHQQ EHL VHLQHP 9DWHU OLHJW GHU ODQJH %ULHI PLW HXUHQ 1DPHQXQG6FKDQGWDWHQ,KUZHUGHWGDQQHWZDHLQKDOEHV-DKUVSlWHUZLHGHULQ6HYLOODVHLQ© 6LHYHUVWDQGHQ $OVLFKPLFKXPGUHKWHGDFKWHLFKGDPLU=DURHLQHQODQJHQSUIHQGHQ%OLFNQDFKVFKLFNWH,FK NRQQWH GHQ $XVGUXFN GHU $XJHQ GLHVHV ULHVLJHQ ZLOGHQ 0DQQHV QLFKW GHXWHQ (LQPDO KDWWH LFK JHVHKHQZLHHUZWHQGHLQHQ6FKDGHQDP6SLOOEHVHLWLJWH,FKKDWWHJHIUFKWHWHUZUGHWREVFKWLJ ZHUGHQ 9LHOOHLFKWYHUVXFKWHHUHLQH0HXWHUHLHVZDUQLFKWVLFKHU ª8QGMHW]WKHOIWPLUGDV%RRWLQV:DVVHU]XEULQJHQ© (LQJHERUHQH XQG 0DWURVHQ KDOIHQ ]XVDPPHQ 'DV OHLFKWH DEHU VFKZHUEHODGHQH %RRW JOLWW YRP 6DQGLQGLH/DJXQH'LH]ZHL6HJHOZXUGHQKRFKJH]RJHQLFKVDDP6WHXHUXQGZLUZXUGHQYRQ GHU]XUFNIOXWHQGHQ6HHGXUFKGLH%UDQGXQJJHULVVHQXQGSDVVLHUWHQGLH.RUDOOHQEDUULHUHPKHORV ,FKVHJHOWHQDFK2VWHQELVZLUGLH,QVHOQLFKWPHKUVHKHQNRQQWHQ 'DQQVDJWHLFK ª:LUEHUJHQGLH6HJHOOHJHQGHQ0DVWXPXQGVSDQQHQGDV9HUGDFNDXI'LH)DKUWZLUGDEMHW]W HWZDVVFKQHOOHUYRUVLFKJHKHQ3DWDXI© 6LH VWDUUWHQ PLFK IDVVXQJVORV DQ DEHU LPPHU GDQQ ZHQQ HU HWZDV QLFKW YHUVWDQG VFKZLHJ XQG KDQGHOWH $JVDFKD 6RDXFKMHW]W(LQH6WXQGH VSlWHU NODSSWH LFK HLQH .LVWHDXIXQG ]ZLVFKHQ GHQ +RO]ZlQGHQ HUVFKLHQ GLH WHFKQLVFKIXQNWLRQHOOH 6WHXHUXQJ PHLQHV *OHLWHUV 'H $YDUUD KDWWH HLQ OHLFKWHV %RRW XP GHQ *OHLWHU KHUXP NRQVWUXLHUW'DV *HIlKUW HUKRE VLFK EHU GDV :DVVHU ULFKWHWH VHLQHVWXPSIH6FKQDX]HDXIGHQ3XQNWZRZHLWHQWIHUQWGHU$XVJDQJGHU3DVVDJHODJ 'DQQEHVFKOHXQLJWLFKYROO :LUUDVWHQLPEUOOHQGHQXQGKHXOHQGHQ)DKUWZLQGEHUGHP0HHUGDKLQ,QQHUKDOENU]HVWHU=HLW HUUHLFKWHQ ZLU ZLHGHU GHQ 3XQNW ZR ZLU ]XP OHW]WHQPDO )HVWODQG KLQWHU XQV JHODVVHQ KDWWHQ 8QWHUZHJV HUNOlUWH LFK 6KDUPD XQG $JVDFKD YLHOHV VHLQ WHFKQLVFKHV 9HUVWlQGQLV ZDU QDWXUJHPl JU|HU$OVZLU]XPHUVWHQPDOLQGHU0DJKHOODQHV6WUDHZDVVHUWHQVDJWHPHLQ)UHXQG ª'HU3RUWXJLHVHPXXPJHNRPPHQVHLQ© ,FK GHXWHWH DXI GDV NOHLQH %LOG GDV VLFK LP $UPDWXUHQEUHWW HUKHOOWH XQG GHQ %OLFNZLQNHO GHV 9RJHOV]HLJWH ª1HLQ©VDJWHLFKª(UYHUVXFKWJHUDGHLQGLH3DVVDJHHLQ]XIDKUHQ© :LU VWDUWHWHQ ZLHGHU XQG IORJHQLQ GLH VLQNHQGH 1DFKW KLQHLQ -HW]W EHJDQQ GDV JURH $EHQWHXHU GHV0DJKHOODQHV%LVKHUKDWWHHUVR]LHPOLFKDOOHVIDOVFKJHPDFKWZDVHUNRQQWH9LHOOHLFKWVWHOOWH HUVLFKMHW]WZHQLJHUXQJHVFKLFNWDQ$EHUZDVKDWWHHV]XEHGHXWHQGDLFKDXIGHP%LOGQXUGUHL 6FKLIIHJHVHKHQKDWWH":RZDUHQGLH6$17,$*2XQGGLH6$1$1721,2" 2 6$1 $17212 KLH GDV 6FKLII GDV 0DJKHOODQHV YRUDXVJHVFKLFNW KDWWH (U VFKLHQ WDWVlFKOLFK NHLQH0|JOLFKNHLW)HKOHU]XPDFKHQDXVJHODVVHQ]XKDEHQ-HW]WGDGHU:LQWHUYRUEHLZDUVWLH &HQHUDONDSLWlQ )HUQDQGR LQ GLH 0DJKHOODQHVVWUDH YRU (LQ 6WXUP WREWH GDQQ DP L 1RYHPEHU ZDJWH GHU 3RUWXJLHVH GHQ 'XUFKEUXFK (U XQG VHLQH 0DQQVFKDIW KDWWHQ $EHQWHXHU XQG +XQJHU )URVW XQG 9HU]ZHLIOXQJ KLQWHU VLFK (LQH 0HXWHUHL ZDU DXVJHEURFKHQ XQG QLHGHUJHVFKODJHQ ZRUGHQ %HL ª6DQWD &UX]© ZDU GLH 6$17,$*2 YHUORUHQ JHJDQJHQ GDV DQGHUH 6FKLII ZDU GHVHUWLHUW XQG NHKUWH RIIHQVLFKWOLFK QDFK 6DQ /XFDU RGHU 6HYLOOD ]XUFN $EHU 0DJKHOODQHV WULHE HV WURW] DOOHU )HKOHU WURW] DOOHU =ZHLIHO WURW] GHU HLVLJHQ :XW GLH LKQ HUIOOWH QDFK:HVWHQ/DQJVDPZXUGHHU]XHLQHP)DQDWLNHU]XHLQHP6NODYHQVHLQHU,GHH8QGHUZlKOWH XQJOFNVHOLJHUZHLVHVWHWVGDQQZHQQHUJODXEWH]ZHLIHOQ]XPVVHQPHLQH.DUWHQDOV2EMHNWDXV
2IIHQVLFKWOLFK ZDUHQ $XINOlUXQJ XQG :HLWVLFKW QXU GXUFK GLH 9HUZHQGXQJ YRQ :XQGHUQ LQ GLHVH ª:HOW HU RE HU HU© KLQHLQ]XEULQJHQ 0HLQ NOHLQHV %RRW ODJ LQ HLQHU ZLQ]LJHQ ZLQGJHVFKW]WHQ %XFKWGLHIDVWHLQ9HUVWHFNZDU9RJHOVFKZlUPHXPJDEHQXQV
ª'XELVWHLQ0DQQGHU:XQGHU$WODQ©VDJWH$JVDFKDOHLVH:LUVDHQZDUPDQJH]RJHQ]XGULWW LP %RRW 'LH .DQQH PLW GHP .DIIHH GHU YRU NXU]HU =HLW DP %LQQHQPHHUUDQG DXIJHWDXFKW XQG VRIRUWPHLQ+HU]HUREHUWKDWWHVWDQGDXIGHU+HL]SODWWHGLHYRQHLQHU(QHUJLH]HOOHJHVSHLVWZXUGH 9LHOH NOHLQH :XQGHU GLHVHU $UW KDWWHQ ZLU LQ GHQ OHW]WHQ 7DJHQ JH]HLJW ª8QG MHW]W ZLOOVW GX GHQ 0DQQPLWGHPGXHLQH:HWWHHLQJHJDQJHQELVWDXFKQRFKGXUFKGLHVH3DVVDJHOHLWHQ"© ª6R LVW HV$JVDFKD©VDJWHLFKª$OOHV ZDV VHLWGHP7DJXQWHUQRPPHQ ZXUGHDQGHP LFK GLFK XQG6KDUPDWUDIGLHQWHLQHPJURHQ=LHO,KUZHUGHWHVDOOHHUIDKUHQ²VSlWHU© ª7ULQNHQZLU(VLVW]LHPOLFKNDOW© 6KDUPD JR GHQ VFKZDU]HQ VHQ .DIIHH LQ GLH %HFKHU ,FK IJWH HLQHQ NUlIWLJHQ 6FKOXFN DXV GHP6FKLIIV5XPYRUUDWKLQ]X:LUZDUWHWHQDXIGHQVSlWHQ1DFKPLWWDJDXIGLH 1DFKW 'LH GUHL 6FKLIIH GHV 0DJKHOODQHV NlPSIWHQ VLFK ODQJVDP GXUFK GLH )HOVHQ QDFKGHP VLH GHQEUOOHQGHQ6WXUPDQGHU(LQIDKUWHLQLJHUPDHQJXWEHUVWDQGHQKDWWHQ0HLQH%LOGHUEHZLHVHQ HV GLH0DQQVFKDIWZDULQHLQHPQRFKHUElUPOLFKHUHQ=XVWDQGDOVGLH6FKLIIH ª:LHGHU)HXHU$WODQ"© ª-D$QGUHLDQGHUHQ6WHOOHQKHXWH© 'LHVPDO KDWWH LFK PLFK EHJQJW HLQH ZLQ]LJH 5RERWNXJHO DXV]XVFKLFNHQ 6LH VHQGHWH ZLQ]LJH %LOGHUXQGIXQNWHZDVVLHªK|UWH©DXIGHU:HOOHPHLQHUHLJHQHQ6HQGHU,FKKDWWHDXIGLHVH:HLVH GLH 8QWHUKDOWXQJHQ ]ZLVFKHQ 3LJDIHWWD 0DJKHOODQHV XQG GHVVHQ 6NODYHQ (QULTXH PLWJHK|UW ,FK ZXWHIDVWDOOHVXQGLQ]ZLVFKHQKDWWHVLFKPHLQHJHOLQGH0LDFKWXQJGLHVHV0DQQHVLQVWDXQHQGH %HZXQGHUXQJYHUZDQGHOW HUZDUVWXUHUKlUWHUXQGZLGHUVWDQGVIlKLJHUDOVLFKGDFKWH(UYHUODQJWH YRQVHLQHUGHPRUDOLVLHUWHQ&UHZQLFKWPHKUDOVHUVHOEVW]XWXQLPVWDQGHZDU $JVDFKDWUDQNDXVXQGVFKWWHOWHVLFK ª%UHFKHQZLUDXI$WODQ"© ª1RFKQLFKW© 'LH 7DJH ZDUHQ ODQJ QXU VHFKV 6WXQGHQ VGSRODUHU KHOOHU 1DFKW :LU KDWWHQ HQWODQJ GHU )DKUWULQQH 7UHLEKRO] JHVDPPHOW XQG DQ HWZD GUHLLJ YHUVFKLHGHQHQ 3XQNWHQ OLQNV XQG UHFKWV GHV :HJHV DXIJHKlXIW ]XP 7HLO DXI %HUJJLSIHOQ RGHU DQ XQ]XJlQJOLFKHQ 6WHOOHQ :LU ZLHVHQ GXUFK GLHVH)HXHU0DJKHOODQHVGHQ:HJ(UJLQJlKQOLFKYRUZLHGLH&UHZGHU7(55$$XFKHUVFKLFNWH %RRWH RGHU GLH NOHLQVWHQ .DUDYHOOHQ YRUDXV (LQH GDYRQ ZDU GHVHUWLHUW XQG QDFK HLQLJHQ 7DJHQ :DUWHQVHQWVFKORVLFKGHU*HQHUDONDSLWlQZHLWHUYRU]XGULQJHQ 6KDUPD EUHLWHWH GLH .DUWH DXV 'DV /HLQHQYHUGHFN XPJDE XQV XQG GLH /HXFKWNXJHO YHUEUHLWHWH :lUPHXQGPLOGHV/LFKW1RFKIURUHQZLUQLFKW,QHLQLJHQ7DJHQPXWHQGLH6FKLIIHDQXQVHUHP 9HUGHFNYRUEHLGULIWHQ'DV0lGFKHQIUDJWHPGH ª:RLVWGHU3RUWXJLHVH"© ª+LHU /LHEVWH© VDJWH LFK ª(U KDW HWZD HLQ 'ULWWHO GHU )DKUW KLQWHU VLFK :LU EUHFKHQ DXI $JVDFKD©,FKGHXWHWHDXIHLQHQ3XQNWGHU.DUWH ,FKJDELKPGLH5HLWHUSLVWROHLQGHUHQ*HEUDXFKLFKLKQHLQJHZHLKWKDWWH$XFKLFKVWHFNWHHLQHLQ GHQ *UWHO GUFNWH DXI HLQHQ ZLQ]LJHQ 6FKDOWHU HLQHP ª=LHUNQRSI© LP /HGHUEDQG XPV +DQGJHOHQNXQGGHU$OEDWURVVWU]WHVLFKDXVGHPIURVWLJHQ+LPPHOXQG]RJHQJH.UHLVHEHUGHP %RRW(LQHOHLFKWH:HOOHHUUHLFKWHXQVXQGOLHGHQKRO]YHUNOHLGHWHQ*OHLWHUVFKZDQNHQ ª+RIIHQWOLFKEHJUHLIW0DJKHOODQHVZDVZLUZROOHQ²ZDVGLH)HXHUEHGHXWHQ© ª,Q]ZLVFKHQQHQQWHUGDV/DQGDXIGHPGLH)HXHUEUHQQHQ!)HXHUODQG ZLHZLUZLVVHQ© $JVDFKDQLFNWH :LUVWLHJHQDXIGDVEUHLWH$FKWHUGHFNGHUULHVLJH$OEDWURVNDPQlKHUXQGZLUVHW]WHQXQVLQGLH 6HLOVFKOLQJHQ,FKJDEPHLQH.RPPDQGRVXQGVXPPHQGVFKZHEWHGHU9RJHOK|KHUXQGK|KHU(U
UDVWH VFKOLHOLFK QDFK 2VWHQ XQG VHW]WH XQV DXI HLQHP )HOVHQ DE GHU KRFK EHU GHP 6XQG KHUDXVUDJWH$GLHUXQG.RQGRUHNUHLVWHQZHLWEHUXQVXQGGHU)HOVZDUQDXQGYRQVSlUOLFKHP JOLWVFKLJHP 0RRV EHZDFKVHQ +LQWHU GHP )HOVHQ YHU]ZHLJWH VLFK GLH /DQGVFKDIW LQ HLQ XQEHUVLFKWOLFKHV*HZLUUYRQNOHLQHQ%XFKWHQ7lOHUQ)MRUGHQXQG.HVVHOQ²ZUGHQGLHORWHQGHQ %RRWH DXFK GLHVH .VWHQOLQLHQ DEIDKUHQ ZROOHQ GDQQ ZUGH 0DJKHOODQHV 'XUFKTXHUXQJ GHV .RQWLQHQWVQRFKOlQJHUGDXHUQ ª.DQQVWGXHWZDVVHKHQ"©IUDJWHLFK :LU VWDQGHQ DXI GHP *LSIHO (LQ NDOWHU VFKQHLGHQGHU :LQG XPKHXOWH XQV (UVW DOV LFK LQ GHU KDOEHQ IDKOHQ 'XQNHOKHLW PHLQ 7HOHVNRS DXVHLQDQGHU]RJ XQG GHQ +RUL]RQW DEVXFKWH VDK LFK GLH GUHL 6FKLIIH 6LH IXKUHQ LQ YHUVFKREHQHU 3RVLWLRQ XQG PLW JU|HUHQ $EVWlQGHQ 'LH 6SXUHQ YRQ VHFKV RGHU PHKU %RRWHQ ZDUHQ ]X HUNHQQHQ 'LH 0lQQHU UXGHUWHQ XQG ORWHWHQ GLH 7LHIH DXV XQG VFKLHQHQDOOHVDPWPHKUDOVHUVFK|SIW ª)DQJHQZLUDQ$JVDFKD©VDJWHLFK (U]RJGLH:DIIHVHLQEUHLWHU'DXPHQVFKDOWHWHGHQ6WUDKOHUHLQGDQQEOLW]WHGHU6FKXDXIXQG VHW]WHGHQJHWURFNQHWHQ7DQJLQ%UDQG'UUH=ZHLJHEUDQQWHQNQLVWHUQGXQGDOVZLUVLFKHUZDUHQ GD DXFK GLH VFKZHUHQ 6WFNH EUHQQHQ ZUGHQ VHW]WHQ ZLU XQV ZLHGHU LQ GLH 6HLOVFKOLQJHQ ª3RVLWLRQ ]ZHL© VDJWH LFK ]XP $OEDWURV (U EUDFKWH XQV YLHOH .LORPHWHU ZHLW EHU GLH %UHLWH GHU 3DVVDJH XQG VHW]WH XQV DQ HLQHU VWHLOHQ )HOVZDQG DE +LHU DXI HLQHP 9RUVSUXQJ ODJ GDV 6NHOHWW HLQHU NOHLQHQ 5REEH 9LHOOHLFKW KDWWH HV HLQVW HLQ $GOHU PLWJHVFKOHSSW :LU VHW]WHQ DXFK KLHU HLQ ULHVLJHV)HXHULQ%UDQG ª+DEHQVLHHVJHVHKHQ"©IUDJWH$JVDFKD ,FKEOLFNWHGXUFKGDV7HOHVNRS:LQ]LJNOHLQKREVLFKGLHGVWHUH*HVWDOWGHV(QWGHFNHUVYRQGHQ DXVJHEOHLFKWHQ3ODQNHQVHLQHV6FKLIIHVDE(UGHXWHWHQDFKHLQDQGHUDXIGLHEHLGHQ)HXHUGDQQJDE HU GHP 5XGHUJlQJHU %HIHKOH (U VFKLHQ QDFK GHP ZDV LFK K|UHQ NRQQWH ]X VFKZDQNHQ ² ]ZLVFKHQ 1DWXUHUVFKHLQXQJHQ GLH LKQ PLW )XUFKW HUIOOWHQ XQG +LQZHLVHQ DXI GLH )DKUWULQQH -HGHQIDOOV ZXUGHQ PHKU 6HJHO JHVHW]W XQG HLQLJH %RRWH ]XUFNJHUXIHQ (LQ *HVFKW] IHXHUWH HLQ 6LJQDOVFKX6KDOOWH]ZLVFKHQGHQ)HOVHQKLQXQGKHU ª1RFK]ZHL)HXHU$WODQ©VDJWHGHU0DQQQHEHQPLUª'DQQKDEHQZLUZLHGHUHLQHODQJH6WUHFNH DEJHVWHFNW© ª(UZLUGLQ HLQLJHQ 7DJHQ]XGHU6FKOXFKWPLW GHP :DVVHUIDOONRPPHQ ²GRUW KDEHQDXFK ZLU XQVHUHQ)ULVFKZDVVHUYRUUDWHUVHW]W©VDJWHLFKª'DQQNDQQVLFKGLH0DQQVFKDIWHUKROHQ© ª%LVGRUWKLQLVWHVQRFKZHLW© ª$EHULFKVDJHGLU HUZLUGHVVFKDIIHQ(ULVWYRQJOKHQGHP(LIHUJHWULHEHQ© ª,FKZHL©VDJWH$JVDFKDª,FKKDEHLKPLQ6HYLOOD]ZHL1lFKWHODQJLQGHU6FKHQNH]XJHK|UW(U NHQQWQXUVHLQ=LHOVRQVWKDWHUNHLQHUOHL5HJXQJHQ© ,FKVWDUUWHLKQDQ6HLQ*HVLFKWLP:LGHUVFKHLQGHU)ODPPHQYHUULHWZHQLJEHUVHLQHJHKHLPHQ *HGDQNHQ (U ZDU JHZRKQW DOOHV ]X EHWUDFKWHQ ]X EHREDFKWHQ ]X DQDO\VLHUHQ GDQQ HUVW ]X VSUHFKHQXQGRIWGDXHUWHHVODQJHELVHUHWZDVVDJWH$EHUPHLVWZDUHVULFKWLJ,FKZXUGHDXV $JVDFKDQLFKWUHFKWNOXJ$EHUHVVWDQGIHVWGDHUPHLQ)UHXQGZDU ,Q GLHVHU 1DFKW ]QGHWHQ ZLU QRFK ]ZHL )HXHU DQ XQG 0DJKHOODQHV VWHXHUWH ]ZLVFKHQ GHQ ORGHUQGHQ)DFNHOQKLQGXUFKXQGQlKHUWHVLFKXQDXIKDOWVDPGHUIUDJOLFKHQ%XFKW$EHUQRFKEHYRU HU DQNHUWH VDQGWH HU HLQH 6FKDOXSSH QDFK :HVWHQ 6LH EOLHE QXU HLQLJH 7DJH DXV DEHU DOV VLH ]XUFNNDPZLHGHUYRQGHQOHW]WHQ)HXHUQJHOHLWHWVWDQGHVIHVW 'LH0DWURVHQKDWWHQGDVHUVHKQWH0HHUGHV6GHQVJHVHKHQ
8QVHU NOHLQHV %RRW DQNHUWH LQ GHU %XFKW GLH GHU $OEDWURV DXVJHVXFKW KDWWH HLQ ZLQ]LJHV LG\OOLVFKHV 6WFN /DQG HLQ QDWUOLFKHU +DIHQ PLW UXKLJHP %UDFNZDVVHU 6KDUPD NDP PLW HLQHP YROOHQ:DVVHUVDFNYRQGHU4XHOOHVHW]WHLKQDEXQGVDJWH ª$QZHQVFKUHLEVWGXDXVJHUHFKQHWDQGLHVHPDEJHVFKLHGHQHQ6WFN/DQG"©
,FKVFKRELKUGHQ%ULHIKLQ6LHODVODXWYRU $Q)HUQDQGR0DJKHOODQHV*HQHUDONDSLWlQ6HLQHU0DMHVWlW&DUORV, 'LHVHU%ULHI6HxRUZLUGVLFKHLQHV0RUJHQVDXIGHP'HFN(XUHV6FKLIIHVILQGHQ(UNDPDXVGHP JHKHLPQLVYROOHQ'XQNHOZlKUHQGGHUODQJHQ5HLVHZLHDXFKPHLQH5DWVFKOlJHXQG.DUWHQ6HxRU LFKEHVFKZ|UH(XFK GHQQLQ]ZLVFKHQKDEW,KUPLWELWWHUHQ(UIDKUXQJHQEH]DKOHQPVVHQGD,KU PHLQHQ .DUWHQ PLWUDXW XQG DQ )DOHLUR XQG DQGHUH 8QZLVVHQGH JHJODXEW KDEW GHQ .XUV ]X VHJHOQGHQLFK(XFKYRUJH]HLFKQHWKDEH $XI YLHOHQ NOHLQHQ ,QVHOQ DP XQG Q|UGOLFK GHV VGOLFKHQ :HQGHNUHLVHV ZHUGHW ,KU JDVWOLFKH $XIQDKPH ILQGHQ ,FK KDEH GLH (LQJHERUHQHQ YRUEHUHLWHW 6LH ZHUGHQ (XFK XQG (XUHQ DXVJHPHUJHOWHQ 0lQQHUQ HLQ KHU]OLFKHV :LOONRPPHQ HQWELHWHQ XQG VLFK JHJHEHQHQIDOOV DXFK ]X (XUHP*ODXEHQEHNHKUHQODVVHQ :LHHUZDUWHWZDUGLH7(55$$8675$/,6,1&2*1,7$YRU(XFKLP0HHUGHV6GHQV$EHUPDOV ZDUQH LFK (XFK GHQ XQJHQJHQGHQ XQG SKDQWDVWLVFKHQ .DUWHQ (XUHU 5DWJHEHU ]X WUDXHQ 'LH )HXHUYRQGHQ%HUJJLSIHOQYRQDFKWVDPHU+DQGHQW]QGHWKDEHQ(XFKVLFKHUJHOHLWHW,FKZHUGH PLW 6LFKHUKHLWDP GULWWHQ3XQNWXQVHUHU .DUWHQZDUWHQ XQG(XFKHLQHQIULVFKHQ7UXQN NUHGHQ]HQ $XINHLQHQ)DOOVROOWHW,KUEHUGHQQ|UGOLFKHQ:HQGHNUHLVKLQDXVVHJHOQGHQQGDQQZHUGHW,KUGLH 0ROXNNHQQLHPDOVHUUHLFKHQ 6FKRQWGLH6FKLIIHVFKRQWGLH0lQQHU²,KUVHLGYRQ(XUHP=LHOQLFKWPHKUZHLWHQWIHUQW3DOPHQ XQG *HZU]H .RNRVQVVH XQG ZHLH 6WUDQGH ZDUWHQ DXI (XFK HLQ 5HLFK GHU :XQGHU XQG GHU 6FK|QKHLW=|JHUWQLFKWPHKUOlQJHUXQGKDOWHW(XFKDQPHLQH.DUWHQ *HVFKULHEHQDP1RYHPEHU$QQR'RPLQL $WODQGH*RQR]DO\$UFRQ5HLVHQGHU)RUVFKHU$EHQWHXUHUXQG*HOHKUWHU 6KDUPDOlFKHOWHXQGOLHGHQ%ULHIVLQNHQ ª*ODXEVW GX ZLUNOLFK© IUDJWH VLH ªGD VLFK 0DJKHOODQHV GDQDFK ULFKWHQ ZLUG" (U JODXEW HKHU HLQHP7UDXPDOVGHLQHQVLFKHUHQ.DUWHQ© ª,FKZHLHVQLFKWLFKNDQQLKQQLFKW]ZLQJHQ©VDJWHLFKª9LHOOHLFKWZLUGHUQDFKGHQNOLFKZHQQ HUGHQ%ULHIDXI'HFNILQGHW© ª9LHOOHLFKW,FKJODXEHZLUVHKHQLKQQLHPDOVZLHGHU© ,FK NRQQWH QXU PLW GHQ 6FKXOWHUQ ]XFNHQ ,Q GLHVHU 6HNXQGH PHOGHWH VLFK PHLQ ([WUDVLQQ (U VSUDFKDXVZDVLFKYHUPXWOLFKGDFKWHRKQHHVMHDUWLNXOLHUW]XKDEHQ 'XNDQQVWQLFKWJODXEHQGDSO|W]OLFKLQGLHVHP-DKUKXQGHUWYLHOHU(QWGHFNXQJHQGLHJHVDPWH :HOW/DUVDI,,,LQHLQHQ7DXPHOGHU:LVVHQVFKDIWGHU$XINOlUXQJGHU9HUQXQIWDXVEULFKW(UVWHQV VLQG GLH ZHQLJHQ (UNHQQWQLVVH QXU DXI ZHQLJH 0lQQHU XQG GHUHQ ZHQLJH 6FKOHU EHVFKUlQNW ]ZHLWHQV ZHKUW VLFK MHGHU JHJHQ HLQH QHXH (UNHQQWQLV GULWWHQV LVW GHU *ODXEH DQ DOOH P|JOLFKHQ 8QVLQQLJNHLWHQ YLHO JU|HU DOV GD GX PLW HLQHU ODQJHQ 5HLVH XQG HLQHP 6HHIDKUHU DOV :HUN]HXJ YHUQQIWLJHQ 'HQNHQV SO|W]OLFK /LFKW XQG 6RQQH LQ MDKUWDXVHQGHDOWHV 'XQNHO EULQJHQ N|QQWHVW 6FKUDXEHGHLQH(UZDUWXQJHQDXIHLQYHUQQIWLJHV0D]XUFN ,FK OHKQWH PLFK EHWURIIHQ ]XUFN ² DQ GLHVHU %DUULHUH NRQQWH LFK WDWVlFKOLFK VFKHLWHUQ 0HLQH %DVLVZDU]XVFKPDO ª9LHOOHLFKWVHKHQZLULKQQLFKWPHKU©EHNDQQWHLFKOHLVHª$EHUVHLQH7DWZLUGWURW]GHPHLQQHXHV =HLWDOWHUHLQOHLWHQ'HU0HQVFKEHJLQQW]DJKDIWLQNRVPLVFKHQ0DVWlE HQ]XGHQNHQ© 'HQOHW]WHQ7HLOGHV6DW]HVYHUVWDQG6KDUPDQLFKW ,FKIDOWHWHGHQ%ULHIVWHFNWHLKQLQHLQHQ8PVFKODJYHUVLHJHOWHLKQVFKULHE0DJKHOODQHV1DPHQ GDUDXIXQGVFKLFNWHGHQ$OEDWURVDXVGHUGHQ%ULHIPLWHLQHP6WHLQEHVFKZHUWDXIGDV'HFNIDOOHQ ODVVHQVROOWH0HKUNRQQWHLFKQLFKWWXQ 'HUJURH9RJHOVFKZHEWHKLQZHJXQGIORJ]XUFNQDFK6GRVWHQXPLQGHU1DFKWGLH%RWVFKDIW DE]XZHUIHQ ,FKKDWWHZDVGDVQlFKVWH7UHIIHQEHWUDINHLQHQVRQGHUOLFKJURHQ2SWLPLVPXV
)U NXU]H =HLW ZDU GLH ZLQ]LJH %XFKW IU PLGL HLQ 6\PERO GHU ,VRODWLRQ GLH LFK WHLOV IUHLZLOOLJ WHLOV RKQH IUHLHQ :LOOHQ JHJHQEHU GHQ 0HQVFKHQ YRQ /DUVDI ,,, HLQQDKP 6SlWHU ZUGHQ IUHXQGOLFKHUH*HGDQNHQPHLQHGVWHUHUHVLJQLHUHQGH6WLPPXQJYHUVFKHXFKHQ²VSlWHU GDVZDUHQ GLH 7DXVHQG ,QVHOQ GLH LFK ]X EHIDKUHQ JHGDFKWH -HW]W XQG KHXWH DEHU EHJDQQ GLH OHW]WH 1DFKW XQVHUHVODQJHQ$XIHQWKDOWHVKLHU 'DV /LFKW KLQWHU GHP )HOVHQ GHU (LQIDKUW ZXUGH XQHUZDUWHW VFKDUI HLQ VLOEHUQHU KDUWHU 5DQG XP]RJ GLH :RONHQ ZDUI HLQHQ JOLW]HUQGHQ 6FKHLQ XP GLH 0LOOLRQHQ :HOOHQN|SIH OLH GLH EHZDFKVHQHQ )HOVHQ DXIVFKLPPHUQ 0HLQH WULVWH 6WLPPXQJ ZLFK IU 6HNXQGHQ (LQHQ JHGHKQWHQ $XJHQEOLFNODQJEHIDQGLFKPLFKPLWGHPNOHLQHQ8QLYHUVXPULQJVXPLP(LQNODQJ(VJDE=HLWHQ XQG 6WXQGHQ LQ GHQHQ GLHVH :HOW WDWVlFKOLFK YRQ HLQHU HLQ]LJDUWLJ KDUPRQLVFKHQ 6FK|QKHLW ZDU 'LHVH 6FK|QKHLW GHFNWH DOOHV ]X ZDV LFK KDWH 6FKPXW] XQG 8QYROONRPPHQKHLW 'HPWLJXQJHQ XQG.ULHJ+DXQG0RUG,FKODJDXVJHVWUHFNWDXIHLQHPVFKZHOOHQGHQ0RRVSROVWHUGDVQRFKGLH ODXH :lUPH GHV 7DJHV LQ VLFK VSHLFKHUWH (LQ VSLW]HU 6WHLQ GUFNWH JHJHQ PHLQHQ .Q|FKHO ,FK EOLQ]HOWHDOVHLQ6FKDWWHQVLFK]ZLVFKHQPHLQH1HW]KlXWHXQGGDVVFKZLQGHQGH6RQQHQOLFKWVFKRE 6KDUPD,FKEOLHEOLHJHQ6KDUPDHLQVHFKVXQG]ZDQ]LJMlKULJHV0lGFKHQYRQ6NODYHQKlQGOHUQ JHUDXEW YHUVFKOHSSW XQG IU HLQHQ 3UHLV YHUNDXIW IU GHQ PDQ JHUDGH HLQ 5HLWSIHUG EHNDP 0HLQ 9HUVXFK LKU HWZDV ]X JHEHQ ZDV PDQ PLW ª(U]LHKXQJ© XPVFKUHLEHQ NRQQWH VFKLHQ JHJOFNW VLH KDWWHVLFKGDUDQJHNODPPHUWXQGZDU]XPHLQHP3URGXNWJHZRUGHQ(LQHVFKODQNH)LJXUPLWHLQHP .RSIYRQ NODVVLVFKHUPHGLWHUUDQHU6FK|QKHLW6LHVDKPLFK DXV LKUHQ JURHQ$XJHQDQXQGVDJWH OHLVH ª7UDXULJPHLQ)UHXQG"© /DQJVDP ULFKWHWH LFK PLFK DXI ,KUH 6WLPPH KDWWH YHUlQGHUW JHNOXQJHQ ,UJHQGZLH XQHQGOLFK ZHLVHHLQH7lXVFKXQJJHZL$EHUHLQHIDVWYROONRPPHQH,OOXVLRQ)UPLFK ª-D 7UDXULJ EHU YLHOHV (LQ 0DQQ GHU XQUXKLJ GLH :HOW GXUFKVHJHOW XQG QDFK 6FK|QKHLW 5XKH XQG9HUJHVVHQVXFKW'DVLVW$WODQ© ª'X UHGHVW ZLH MHPDQG GHU WDXVHQG -DKUH DOW LVW /LHEVWHU© IOVWHUWH VLH XQG VHW]WH VLFK QHEHQ PLFK,KUVFKXOWHUODQJHV+DDUILHOQDFKYRUQDOVVLHPLFKNWH,FK]RJVLHDQPLFK 'DV /LFKW VFKZDQGGLHHUVWHQ 6WHUQHZXUGHQ VLFKWEDU$OV ZLU XQVYRQHLQDQGHU WUHQQWHQZDU HV WLHIH 1DFKW (QJ XPVFKOXQJHQ JLQJHQ ZLU ]XUFN ]XP %RRW LQ GHP $JVDFKD ODJ XQG VFKQDUFKWH 0LU VFKLHQ HV SO|W]OLFK DOV KDEH HLQ QHXHU $EVFKQLWW LQ GHU 5HLVH GHU IQI]HKQKXQGHUW 7DJH EHJRQQHQ *HJHQ 0RUJHQ ZDFKWH LFK DXI ,FK KDWWH 6WLPPHQ JHK|UW NHLQH VROFKHQ LQ HLQHP GHU ZHQLJHQ ZLUUHQ7UlXPH,FKVFKREHLQH6WUlKQHVFKZDU]HQ+DDUHVYRQPHLQHP+DOVKREGHQ$UP6KDUPDV YRQPHLQHU%UXVWXQGVHW]WHPLFKDXI $XV GHP ZLQ]LJHQ /DXWVSUHFKHU GHV (PSIlQJHUV GHQ LFK DQV $UPDWXUHQEUHWW JHKHIWHW KDWWH NDPHQGLH6WLPPHQ ,FKPXWHZLGHU:LOOHQJULQVHQ +|UH JHQDX KLQ 'X KDVW HV HUZDUWHW ZHQQ QLFKW SURYR]LHUW 9HUVXFKH KHUDXV]XILQGHQ ZDV VLH SODQHQZLVSHUWHHLQGULQJOLFKXQGERKUHQGGHU([WUDVLQQ ,FKYHUEDQGGHQ/DXWVSUHFKHUPLWGHPNOHLQHQ%DQGUHFRUGHUQDKPGLH6lW]HDXIXQGK|UWH]X $OUHG GHU %RRWVVWHXHUPDQQ =DUR GHU +QH *RII GHU 6FKLIIV]LPPHUPDQQ XQG HLQLJH DQGHUH 0lQQHU GHUHQ 6WLPPHQ VHOEVW PHLQ SKRWRJUDSKLVFK H[DNWHV (ULQQHUXQJVYHUP|JHQ QLFKW LGHQWLIL]LHUHQNRQQWHXQWHUKLHOWHQVLFKGDUEHUZLHVLHGDV6FKLIIDXVGHU/DJXQHKHUDXVEHNDPHQ ,FK HQWQDKP LKUHQ 5HGHQ GD VLH DOOH LKUH $UEHLWHQ EHUHLWV LP HLJHQHQ ,QWHUHVVH EHHQGHW KDWWHQ 6lPWOLFKH $XVUVWXQJVJHJHQVWlQGH XQG 1DKUXQJVPLWWHO GLH NOHLQHQ LQ PHWDOODXVJHVFKODJHQHQ .lVWHQXQWHUJHEUDFKWHQ*lUWHQVRJDUZDUHQYHUVWDXW'DV6FKLIIZDUVWDUWNODUXQGODJYRU$QNHULQ GHU/DJXQH (LQHLGHDOH6LWXDWLRQKDWWHVLFKHUJHEHQ 6VDFKDQ\XQG'LHJREHIDQGHQVLFKLP'RUIGHV+lXSWOLQJV:DUGDUXQGHLQ*URWHLOGHU0lQQHU DXI GLH LFK PLFK YHUODVVHQ NRQQWH ODJ YRP 3DOPZHLQ EHWUXQNHQ XQWHU GHQ %lXPHQ 6FKOLHOLFK HQWVFKORVLFK=DURGDV6FKLII]XEHUQHKPHQ,FKK|UWHVHLQHOHLVHQ.RPPDQGRV6LH]RJHQGDV
5DKVHJHO DXI OLFKWHWHQ GLH $QNHU XQG VDJWHQ VLFK ZHQQ GLHVHV 6FKLII XP VRYLHO VFKQHOOHU XQG EHVVHU RKQH 9HUOXVWH XQG 6WXUPVFKlGHQ XP VR YLHOHV H[DNWHU DOV GLH IQI .DUDYHOOHQ GHV 0DJKHOODQHV VHJHOWH GDQQ ODJ HV DP 6FKLII QLFKW DP .DSLWlQ 'LHVHU ZDU HUVHW]EDU PDQ ZUGH VHOEVW WDXVFKHQ XQG KDQGHOQ XQG PLW UHLFKHU )UDFKW ]XUFNNHKUHQ 7DIXDIDX ZDU ZHLW ZHJ YRQ 6HYLOOD$WODQ\$UFRQZUGH]XUFNVHJHOQGHQ9HUOXVWGHV 6FKLIIHV HUNHQQHQ XQG ZDKUVFKHLQOLFK PLW 0DJKHOODQHV :HLWHUUHLVHQ 'HQ *HUlXVFKHQ XQG %HIHKOHQ GHP :HOOHQVFKODJ XQG GHQ 5XIHQ NRQQWH LFK HQWQHKPHQ GD ]ZHL %RRWH DQ ODQJHQ 7URVVHQGDV6FKLIIPLWGHUDXVODXIHQGHQ(EEHGXUFKGLH%UDQGXQJXQGGLHgIIQXQJLP5LII]RJHQ HLQJHKROWXQGKRFKJH]RJHQZXUGHQ=DURVWDQGDP5XGHU GLH7(55$$8675$/,6,1&2*1,7$ VHJHOWHQDFK6GZHVWHQZHLWHU ,FKQLFNWHJULPPLJGUHKWHPLFKKHUXPXQGEHJHJQHWHGHP%OLFN$JVDFKDV(UVWDUUWHPLFKZLOG DQ ª'LHVH :DKQVLQQLJHQ© IOVWHUWH HU NRFKHQG YRU :XW ª6LH KDEHQ JHPHXWHUW XQG GDV 6FKLII JHVWRKOHQ'XZLUVWVLHDOOHDXVSHLWVFKHQ© (UKDWWHDOOHVJHK|UWXQGDOOHVYHUVWDQGHQ,FKVFKWWHOWHGHQ.RSIVFKZHQNWHGLH.DIIHHNDQQHXQG VFKWWHWH]ZHL%HFKHUYROO*DE$ONRKROKLQ]XXQGUHLFKWH$JVDFKDHLQHQ%HFKHU ª,FK ZHUGH LKQHQ HLQHQ GHUDUW K|OOLVFKHQ 6FKUHFNHQ HLQMDJHQ© VDJWH LFK ªGD VLH HLQH $XVSHLWVFKXQJ GDJHJHQ DOV KDUPORV HPSILQGHQ ZUGHQ $XHUGHP VLQG GLH :DIIHQ RGHU 6WUDIHQ GHV9HUVWDQGHVYLHOPlFKWLJHUXQGQDFKKDOWLJHU© (UEOLFNWHYHUVWlQGQLVORV ª:DVZLOOVWGXWXQ$WODQ"(VLVWGHLQ6FKLII© ª,FKZHL=XHUVWJHKHQZLU]XUFNQDFK7DIXDIDX]X+lXSWOLQJ$UXDQRXQG'LHJR'DQQZHUGH LFKKDQGHOQ© ,FK EHUOHJWH ODQJH 6FKOLHOLFK ILHO PLU HLQH 0HWKRGH HLQ GLH XQV DOOHQ KHOIHQ ZUGH 6LH KDWWH GHQJHZDOWLJHQ 9RU]XJVFKPHU]ORV DEHUGUDPDWLVFK]XVHLQ6LHZUGHELQQHQ NU]HVWHU =HLW GDV 6FKLII ]XUFNEULQJHQ GLH 0HXWHUHU YRQ LKUHP 9RUKDEHQ DEKDOWHQ XQG GLH 5HLVH GHU IQI]HKQKXQGHUW7DJHXPHLQLJHVRQGHUEDUH(IIHNWHEHUHLFKHUQ,FKVWXW]WH ZLHKDWWHGHUOHW]WH6DW] =DURVJHODXWHW" ,FKVSXOWHGDV%DQG]XUFNXQGK|UWH ª.RPPW PLW GHQ %RRWHQ ]XUFN +LQWHU GHP 6FKLII VHKH LFK GLH )ORVVHQ (V LVW HLQ 5XGHO GHU 0HQVFKHQIUHVVHUILVFKH© +DWWHGDVHWZDV]XEHGHXWHQ" 7$58$)$8ZDUHLQHGHU YLHOHQ,QVHOQ GLH VLFKLQHLQHUORVHQ 5HLKH YRQ6GRVWQDFK1RUGZHVW HUVWUHFNWHQ 1DFK PHLQHQ .DUWHQ HLQHV GHU NOHLQVWHQ (LODQGH LQ 6GRVW (V JDE HWZD KXQGHUW ,QVHOFKHQ YHUVFKLHGHQHU *U|H :HQQ GLH 0HXWHUHU LKUHQ .XUV EHLEHKLHOWHQ VHJHOWHQ VLH IDVW VWlQGLJ LP 6LFKWEHUHLFK HLQHU ,QVHO ,Q NXU]HU =HLW PDFKWHQ ZLU GHQ YHUNDSSWHQ *OHLWHU IOXJIHUWLJ 'HU $OEDWURV IORJ YRU XQV KHU XQG ERJ GDQQ NXU] YRU 7DIXDIDX DE XP GLH 7(55$ ]X YHUIROJHQ 'HU 0DVW ZXUGH DXIJHULFKWHW GDV 6HJHO JHVSDQQW XQG ZLU VHJHOWHQ LQ GLH /DJXQH KLQHLQ (LQH XQJHKHXUH$XIUHJXQJHPSILQJXQV:DVLFKQLFKWJHZXWKDWWHZDUGDGLH0HXWHUHUGLHIlKLJVWHQ GHUPLU WUHXHUJHEHQHQ0lQQHU]XUFNJHODVVHQ KDWWHQ'HU+lXSWOLQJ ZDU QLHGHUJHVFKODJHQ XQG 'LHJR ZDJWH HV QLFKW PLFK DQ]XVHKHQ ,FK NRQQWH GLHVHQ +DXIHQ YRQ JHGUFNWHQ 0lQQHUQ QLFKW PHKU VHKHQ XQG YHUVSUDFK LKQHQ GLH 7(55$ ELQQHQ ZHQLJHU 7DJH ]XUFN]XEULQJHQ :lKUHQG 0DJKHOODQHV HQGOLFK GDV 0HHU GHV6GHQV HUUHLFKW KDWWH XQG YHUPXWOLFK HLQHQ .XUV IXKU GHU LKQ HKHU ]XP 1RUGSRO DOV ]X GHQ 0ROXNNHQ EUDFKWH IHLHUWHQ ZLU HLQ )HVW PLW JHEUDWHQHQ %DQDQHQ 8QPHQJHQ YRQ 3DOPZHLQ XQG JHJULOOWHP )LVFK 9ROOHU 5HXH YHUVDJW ]X KDEHQ VFKHQNWH $UXDQH 6KDUPDHLQHNRVWEDUH.RUDOOHQNHWWH
'LH 1DFKW LQ GHU 6GVHH LVW ]ZHLIHOORV HLQ %HVWDQGWHLO PHLQHU DUFKHW\SLVFKHQ 7UlXPH GHUHQ %HGHXWXQJ ª:RKOEHILQGHQ© LVW 'LH ,G\OOH ZDU VR SHUIHNW GD VLH EHUHLWV ZLHGHU XQJODXEZUGLJ ZLUNWH DOOHQIDOOV HLQ 'DQWH RGHU HLQ +RPHU NRQQWHQ GLH 6WLPPXQJ VFKLOGHUQ RKQH GD VLH LQV 5KUVHOLJH DEVDFNWHQ ,FK EUDXFKWH PLFK QLFKW EHVRQGHUV ]X UVWHQ HLQLJH NOHLQH *HUlWH GLH LP *UWHOYHUVWDXWZXUGHQGLH5HLWHUSLVWROHQPLWYROOHQ0DJD]LQHQHLQHGRSSHOWH6HLOVFKOLQJHXQGHLQ SDDU6FKDOWXQJHQ1LHPDQGEHPHUNWHHV²VRVFKLHQHVPLU $OVLFK]ZLVFKHQGHQ3DOPHQKHUDXVWUDWXQGGLH6FKDOWXQJEHWlWLJWHGLHGHQ$OEDWURVKHUEHLULHI ULHIPLFK$JVDFKDDQ ª,FKKDEHNDXPHWZDVJHWUXQNHQ©VDJWHHUª1LPPPLFK PLW$WODQ'XELVWDOOHLQJHJHQYLHOHXQEHUHFKHQEDUH0lQQHU© ,FK]|JHUWH ª,FK KDEH JHVFKZRUHQ GHLQ /HEHQ ]X EHVFKW]HQ© VDJWH HU ª8QG GX ZLUVW PLW PLU NlPSIHQ PVVHQHKHGXDOOHLQPLWGHPZHLHQ:XQGHUYRJHOIOLHJVW© ª(VZLUGVFKZHUZHUGHQ)UHXQG© ª'HVZHJHQZLOOLFKPLW©EHVWlWLJWHHUª'XZLUVWPLFKEUDXFKHQ© 1LPPLKQPLW'XELVWQLFKWXQEHVLHJEDUXQGWURW]GHV$NWLYDWRUVELVWGXDXFKQLFKWXQVWHUEOLFK GUlQJWHGHU([WUDVLQQ ª*XW©VDJWHLFKª.RPPPLW:LUZHUGHQQXUGLH6HLOHQHXRUGQHQPVVHQ© 1LHPDQGVDKXQVDOVZLUGXUFKGLH/XIWVFKZHEWHQGHP=LHOHQWJHJHQGDVGHU$OEDWURVLQVHLQHP SRVLWURQLVFKHQ +LUQ JHVSHLFKHUW KDWWH 1DFK HLQHP ODQJHQ )OXJ HUUHLFKWHQ ZLU PLW GHP HUVWHQ 9HUEODVVHQGHU6WHUQHGDV6FKLII'LFKWEHUGHP:DVVHUKLQWHUGHPUHLFKYHU]LHUWHQ+HFNNDVWHOO VFKZHEWHQ ZLU (LQHQ 0HWHUXQWHU XQV GDV VFKlXPHQGH :DVVHU XQG HLQ 7HLO GHV 5XGHUV EHU XQV GLH OHHUHQ 'DYLWV GHV NOHLQHQ %RRWHV $XI GHP 6FKLII ZDU HV YHUGlFKWLJ UXKLJ 'HU 6FKZlUP 0HQVFKHQIUHVVHUILVFKHYHUIROJWHQRFKLPPHUGLH7(55$ $JVDFKDIOVWHUWH ª'XZLOOVWGXUFKGDV)HQVWHUQLFKWZDKU"© (UKLHOWGLH:DIIHLQGHU+DQGPLWHLQHPVFKPDOHQ5LHPHQDP+DQGJHOHQNEHIHVWLJW,FKQLFNWH KROWHPLWGHU6HLOVFKOLQJHDXVXQGZDUIVLH%HLPYLHUWHQ9HUVXFKYHUILQJVLHVLFKDQGHU+DOWHUXQJ HLQHU3RVLWLRQVODWHUQH'DQQ]RJLFKXQVQlKHUKHUDQ.XU]H=HLWGDUDXIZDUHQZLUYROONRPPHQLQ 'HFNXQJ 8QV NRQQWH PDQ QXU VHKHQ ZHQQ HLQHU GHU 0lQQHU GLUHNW DXV GHQ /XNHQ GHU .DSLWlQVNDMWHEOLFNWH,FKPXUPHOWH ª:HQQVLFKMHPDQG]HLJWEHQXW]HGLH:DIIHVRGDVLHODKPW© $JVDFKDQLFNWH+LQWHUXQVVFKQLWWHQ+DLILVFKIORVVHQGXUFKGLH+HFNVHH ,FK ULFKWHWH PLFK DXI ZLFNHOWH GDV 6HLO XP GLH 6FKXOWHU XQG ]ZlQJWH GLH .OLQJH HLQHV ODQJHQ (QWHUPHVVHUV]ZLVFKHQGLHPDVVLYHQ+RO]UDKPHQ'DQQVHW]WHLFKGHQ+HEHODQ(LQYHUGlFKWLJHV .QDUUHQZDU]XK|UHQ:LUEHLGH]XFNWHQ]XVDPPHQ XQGKLHOWHQ GHQ $WHP DQ6FKOLHOLFK JHODQJHV PLU GLH /XNH ]X |IIQHQ9RUVLFKWLJVWLH LFKVLH DXIXQGVWHFNWHGHQ/DXIGHU3LVWROHKLQGXUFK1LFKWV,FKIOVWHUWHHLQLJH%HIHKOHXQGGHU$OEDWURV JLQJ K|KHU (LQ 6XPPHQ ZDU LQ GHU /XIW QLHPDQG EHPHUNWH HV 2GHU ODXHUWHQ VLH EHUHLWV LQ GHU KDOEHQ'XQNHOKHLWGHU.DMWH",FKVFKORGLH$XJHQEOLFNWHLQV+DOEGXQNHOGDQQO|VWHLFKHLQHQ )X DXV GHU $XIKlQJXQJ XQG YHUKDUUWH HLQH :HLOH PLW JHVSUHL]WHQ %HLQHQ ]ZLVFKHQ )HQVWHU XQG 9RJHO6FKOLHOLFKVWHFNWHLFKGDV0HVVHULQGHQ6WLHIHOVFKDIW]XUFNVFKDOWHWHPHLQN|USHUHLJHQHV $EZHKUIHOG HLQ XQG VFKZDQJ PLFK GLH )H YRUDXV LQ GLH .RPEVH ,FK SUDOOWH DXI OLH PLFK IDOOHQXQGUROOWHDE$OVLFKEOLW]VFKQHOOZLHGHUDXIGHQ%HLQHQVWDQGKLHOWLFKEHUHLWVGLH:DIIHLQ GHU+DQG .HLQH*HIDKUVLJQDOLVLHUWHGHU([WUDVLQQ =ZHL 0LQXWHQ VSlWHU VWDQG $JVDFKD QHEHQ PLU 'HU $OEDWURV OLH VLFK IDOOHQ EOLHE ]XUFN VFKZHEWH LQ UDVHQG VFKQHOOHP )OXJ GLFKW EHU GHQ .lPPHQ GHU :HOOHQ GHQ .XUV ]XUFN XQG
VFKZDQJ VLFK GDQQ LQ HLQHU VFKQHOOHQ VWHLOHQ .XUYH KRFK LQ GLH /XIW ELV PDQ LKQ LP NXU]HQ 0RUJHQJUDXHQQLFKWPHKUVHKHQNRQQWH1DFKHLQDQGHU|IIQHWHLFKJHUlXVFKORVGLH)HQVWHU$OVHLQH NOHLQH /DPSH DXIIODPPWH VDK LFK GD HLQH PHUNZUGLJH 6FKHX GLH 0HXWHUHU GDYRQ ]XUFNJHKDOWHQ KDOWH ZHUWYROOH *HUlWH ]X ]HUVW|UHQ ,FK DUEHLWHWH PLW UDVHQGHU (LOH ZlKUHQG $JVDFKD PLW JH]RJHQHU :DIIH QHEHQ GHU 7U :DFKH KLHOW XQG GXUFK GHQ 6FKOLW] QDFK GUDXHQ VSlKWH,FKVDKDXFKHLQPDOKLQDXVXQGHUEOLFNWHQLFKWVDQGHUHVDOVGHQEUHLWHQ5FNHQ=DURV'HU 0DQQVWDQGDP5XGHUXQGEOLFNWHDXIPHLQHQ.RPSD $JVDFKDIOVWHUWH ª6LHVFKODIHQDOOHDQ'HFNDOVREVLHVLFKIUFKWHQZUGHQQDFKXQWHQ]XJHKHQ$OOHVLVWUXKLJ© ª,FKZHUGHLKQHQHLQXQDQJHQHKPHV(UZDFKHQEHVFKHUHQ©YHUVSUDFKLFKZWHQG,FKYHUEDQGGDV $XIQDKPHJHUlW PLW HLQHP 0HJDSKRQ NOHPPWH GHQ $SSDUDW LQ GLH ,QQHQYHUNOHLGXQJ GHV JURHQ /XNVGDVVLFK]XU%UFNHKLQ|IIQHWH$JVDFKDXQGLFKVDKHQXQVDQQLFNWHQXQGGDQQ|IIQHWHLFK ODQJVDPGDV/XN'HU7ULFKWHUGHV0HJDSKRQVULFKWHWHVLFKQDFKGUDXHQ :LUEOLHEHQKLQWHUGHU7UVWHKHQ:lKUHQG$JVDFKDGHQ 5LHJHOODQJVDPDXI]RJHUW|QWHGDVNQLVWHUQGH*HUlXVFKGHVDQODXIHQGHQ%DQGHV =DUR ]XFNWH ]XVDPPHQ GUHKWH VLFK XP XQG VWDUUWH GLH JHVFKORVVHQH 7U DQ (U ]ZLQNHUWH EHUUDVFKWDEHUVDKQLFKWV(LQLJH6HNXQGHQYHUJLQJHQ,QGLHVHP0RPHQWJLQJGLH6RQQHDXIXQG EHUVFKWWHWH 6FKLII XQG 2]HDQ PLW /LFKW 'LH 6HJHO VWUDKOWHQ =DURV 6WLPPH ODXW XQG HLQH 6SXU XQGHXWOLFK KDOOWH SO|W]OLFK EHU GDV 'HFN (V ZDU ZLH HLQ 6FKX DXV GHP 'UHKJHVFKW] DP 9RUGHFN ª0lQQHU© ULHI =DUR ª:LU N|QQHQ YLHO VFKQHOOHU UHLFK ZHUGHQ (V NRVWHW XQV QXU HLQH $QVWUHQJXQJ8QGHWZDVhEHUOHJHQ,FKVDJHHXFKZLUª =DUR OLH GDV 5XGHU ORV ZDUI VLFK KHUXP XQG UL HLQ EUHLWHV 0HVVHU DXV GHP +RO] QHEHQ GHP 5XGHU (U ZDU OHLFKHQIDKO =ZLVFKHQ GHQ 7DXUROOHQ DXI 'HFN XQG DXV GHQ :LQNHOQ QHEHQ GHQ )UDFKWOXNHQHUKREHQVLFK*HVWDOWHQXQGNDPHQWDXPHOQGDXIGLH%HLQH ª,FKKDEHHVGLULPPHUJHVDJW=DUR©VFKULHMHPDQGZLPPHUQGDXI,FKJULQVWHJULPPLJ =DUR HQWZLFNHOWH ODXW VHLQ .RQ]HSW :LU K|UWHQ GDV /DFKHQ GLH 6WLPPHQ GHU DQGHUHQ 0lQQHU 'DQQ *HUlXVFKH ]XP 7HLO XQGHILQLHUEDU -HGHVPDO ZHQQ GHU 6SUHFKHU ZHFKVHOWH IOVWHUWH $JVDFKDKDHUIOOWGHVVHQ1DPHQ ª9HUFHOO6LGDQ3DWDU,YR'RULR© =DURUDQQWHDXIGHU%UFNHKLQXQGKHU'LH6WLPPHQIXKUHQIRUW]XSOlUUHQXQG]XPXUPHOQ'HU JHVDPWH 3ODQ =DURV ODJ ELQQHQ IQI 0LQXWHQ NODU GD ,Q]ZLVFKHQ ZDU GXUFK GDV *HVFKUHL GLH JHVDPWH %HVDW]XQJ DXIJHZDFKW 6HFK]HKQ 0lQQHU ]lKOWH LFK 6LH JHQJWHQ DQ VLFK XP GLHVHV 6FKLII ]X IDKUHQ (LQH DWHPORVH 6WLOOH KHUUVFKWH ]ZLVFKHQ GHQ /DXWVSUHFKHUGLDORJHQ /DQJVDP VFKREVLFKGHU+DXIHQ0lQQHUQlKHU=DURVFKULHDXIVLHHLQXQGULHIGDDOOHVQXUHLQQlFKWOLFKHU 6SXNVHL-HPDQGZDUIHLQHQ0DUOVSLHNHUQDFKLKPGHUSROWHUQGJHJHQGLH.DMWHVFKOXJ ª+lOW V0DXO© ª'XELVWDQDOOHPVFKXOG©VFKULHQVLH =DURZDUQDKHGDUDQZDKQVLQQLJ]XZHUGHQ8QEDUPKHU]LJKDJHOWHQVHLQHHLJHQHQ:RUWHDXILKQ HLQ (V ZXUGH GHXWOLFK GD HU GHU 'UDKW]LHKHU JHZHVHQ ZDU $OOH DQGHUHQ ZDUHQ YRQ $QIDQJ DQ PLWUDXLVFKXQGDEZHKUHQGJHZHVHQDEHUHU KDWWHVLHPLW9HUVSUHFKXQJHQJHN|GHUWVRGDVLHVFKOLHOLFKHLQVWLPPWHQ'HU'LDORJJLQJZHLWHU XQG HQGHWH VFKOLHOLFK GDPLW GD =DUR YRQ GHQ +DLILVFKHQ VSUDFK 'DQQ OLHI GDV %DQG OHHU ,FK VFKDOWHWHGHQ5HFRUGHUDXV 6WLOOHQXUGLH(LJHQJHUlXVFKHGHU7(55$ 3DWDUHLQNOHLQHU0DQQPLWHLQHPNUXPPHQ%HLQGHU6WDXPHLVWHUVFKULHDXIJHUHJW ª:LUPVVHQ]XUFN:LUKROHQGHQ.DSLWlQ*LEGHQ.XUVDQGXVFKZDU]KDDULJHU1DUU© ,FK |IIQHWH GLH 7U PLW HLQHP 5XFN $JVDFKD XQG LFK WUDWHQ LQV /LFKW KLQDXV XQG KREHQ GLH :DIIHQ ª,FKJHEHGHQ.XUVDQ0lQQHU©ULHILFKVHKUODXW =DURVDKPLFKDQZLHHLQHQ*HLVW'DQQJULIIHUQDFKGHP0HVVHUKREGLH+DQGXQGVFKULHDXI
1RFKHKHHUGLH:DIIHVFKOHXGHUQNRQQWHIHXHUWHQ$JVDFKDXQGLFKIDVWJOHLFK]HLWLJ:LUWUDIHQGLH 6FKXOWHU=DURV'DV0HVVHUNOLUUWHDXI'HFN=DURVDKNHLQHQ$XVZHJPHKUUDQQWHGUHLPDOYRUGHQ $XJHQ GHU 0DQQVFKDIW DXI GHP 'HFN KLQ XQG KHU GDQQ UL HU HLQHQ $UP KRFK XQG VSUDQJ EHU 'HFN $JVDFKD VFKZDQJ VLFK ]XU 6HLWH KLHOW VLFK DQ GHU 5HOLQJ IHVW XQG EOLFNWH KLQXQWHU =DUR VFKZDPP ODQJVDP YRP 6FKLII ZHJ VFKOXFNWH :DVVHU XQG SO|W]OLFK VFKlXPWH ULQJV XP LKQ GDV :DVVHUDXI'LH+DLHZDUHQKHUDQZDUIHQVLFKXQWHU:DVVHUKHUXPXQG]HUIHW]WHQGHQ0DQQ6HLQ OHW]WHU6FKUHLJHOOWH EHUGDV:DVVHUGDQQYHUVDQNHUJXUJHOQG LQ GHQ :HOOHQ'DV:DVVHUIlUEWH VLFKURW ª$JVDFKD$QV5XGHU8QVHU.XUVLVW© ª9HUVWDQGHQ.DSLWlQ©VDJWH$JVDFKDUXKLJEHWUDWGHQ1LHGHUJDQJVWHOOWHVLFKKLQWHUGDV5XGHU XQGVFKREGLH:DIIHPLWHLQHUVFKQHOOHQ%HZHJXQJLQGHQ*UWHO]XUFN'DQQGUHKWHHUGDV5DG PHKUPDOVKHUXP ª.ODUEHL:HQGH©ULHILFK 0LWHLQHUEHVWU]HQGHQ3O|W]OLFKNHLWUHJWHQVLFKGLH0lQQHU6RVFKQHOOZDUHQVLHQXUZlKUHQGGHV +XUULNDQVJHZHVHQ6LHUDQQWHQQDFKDOOHQ5LFKWXQJHQDXVHLQDQGHUXQG]RJHQ7DXHVFKOXJHQ6HJHO ORV OHLVH EHZHJWH VLFK GDV 5XGHU 'LH 7(55$ OLHI DXV GHP :LQG VFKZDQNWH XQG GUHKWH VLFK ODQJVDP 'DQQ IDWH GHU :LQG ZLHGHU XQG LFK JDE HLQH 5HLKH YRQ .RPPDQGRV :LU KDWWHQ GLH )DKUWDXI]XKROHQXQGZLUPXWHQ]XUFNQDFK7DIXDIDXNUHX]HQ $JVDFKDPHLQWH ª:LU VWUDIHQVLHDQGHU HPSILQGOLFKVWHQ6WHOOH:HQQ ZLUZHLWHUVFKZHLJHQ GDQQVLQG VLH ]DKP ZHQQZLUDQGHU,QVHOVLQG© ª6R LVW HV© HUZLGHUWH LFK ªVLH VLQG IURK GD HV VR JHHQGHW KDW =ZDU EHVLW]HQ ZLU LQ]ZLVFKHQ GlPRQLVFKH)lKLJNHLWHQDEHUGDVLVWDXIHLQHUVROFKHQ6HHIDKUWHKHUHLQ9RUWHLO© ª'XVDJVWHV$WODQ© :LUNUHX]WHQIDVWDFKWXQGYLHU]LJ6WXQGHQODQJHKHGLH,QVHOLQ6LFKWNDP9RUGHP'XUFKEUXFK LP.RUDOOHQULQJZDUIHQZLU$QNHUXQGGDQQQDFKGHPVLFKGLH7URVVHQJHEKUHQGJHVSDQQWKDWWHQ EUHLWHWHVLFKZLHGHUHLQHHUZDUWXQJVYROOH5XKHDXIGHP6FKLIIDXV'LH0lQQHUZDUHQDXVQDKPVORV YHUOHJHQ XQG ZDUWHWHQ I|UPOLFK DXI 6WUDIH ,FK EOLHE DXI GHU %UFNH VWHKHQ VFKDXWH DXI GLH 9HUVDPPOXQJKLQXQWHUXQGVDJWHODXW ª)LHUW GLH %RRWH :LU UXGHUQ EHU GLH /DJXQH +lXSWOLQJ $UXDQR KDW HLQ )HVW ]XU 5FNNHKU GHU 7(55$ JHSODQW ,Q GUHL 7DJHQ VWHFKHQ ZLU ZLHGHU LQ 6HH ,KU DOOH KDEW HXUH &KDQFH JHKDEW HLQH ]ZHLWHJLEWHVQLFKWPHKU'HUQlFKVWH0HXWHUHUZLUGDXVJHVHW]W© 6LH ]HUVWUHXWHQ VLFK YHUZXQGHUW XQG HUOHLFKWHUW (LQLJH 7DJH ODQJ ZUGHQ VLH VLFK QRFKIUFKWHQ 'DQQZUGHVLFKZLHGHUGHUQRUPDOH=XVWDQGDQ%RUGHLQVWHOOHQ,FKPHLQWHGDZLUDOOHGDUEHU VHKUIURKVHLQNRQQWHQ'DV)HVWGDVZLULQGLHVHU1DFKWIHLHUWHQGDXHUWHELV]XPQlFKVWHQ0LWWDJ XQGDOVGHU$EHQGNDPZDUHQGLHPHLVWHQYRQXQVQRFKLPPHUEHWUXQNHQ
'HUDXIUHJHQGVWH$XJHQEOLFNZLVVHQVFKDIWOLFKJHVHKHQVWDQGPLUQRFKEHYRU,FKIXKUDOOHLQPLW +lWLSWOLQJ $UXDQR XQG VHLQHQ 5XGHUHUQ KLQDXV ]XP )LVFKHQ XQG 7DXFKHQ ,FK ZROOWH PLWHUOHEHQ ZLHPDQ3HUOHQIDQG²EHUGLH.RVWEDUNHLWHQGLHZLUJHJHQVWlKOHUQH%HLOHNOHLQH6SLHJHORGHU 0HVVHU HLQKDQGHOWHQ VWDXQWHQ QLFKW QXU XQVHUH 0lGFKHQ 1DFKGHP ZLU DXV GHU /DJXQH KLQDXVJHUXGHUWZDUHQERJGDVODQJH+lXSWOLQJVNDQXVFKDUIQDFK1RUGHQDE ª:RKLQJHKWHV"©IUDJWHLFKXQGUlNHOWHPLFKVFKOlIULJXQWHUGHP6RQQHQVHJHODXV%DVW ª=XHLQHUDQGHUHQ,QVHO©VDJWHGHU+lXSWOLQJ 'DV %RRW ZDU JHEUHFKOLFK OHLFKW XQG JUR 6lPWOLFKH 9HUELQGXQJHQ EHVWDQGHQ DXV 6FKOLQJHQ 6FKQUHQ3IODQ]HQIDVHUQXQG+RO]1HW]HXQG)LVFKJHUlWODJHQKHUXPXQGHLQH$Q]DKO6WHLQHLQ 6FKQUHHLQJHIORFKWHQ ª:LHILQGHWLKUHLJHQWOLFKGLHDQGHUHQ,QVHOQ"©IUDJWHLFK $UXDQRKREHWZDVKRFKGDVLFKDXIGHQHUVWHQ%OLFNQLFKWLGHQWLIL]LHUHQNRQQWH(VZDUHQGQQH
6WlEFKHQDQGHQ.UHX]XQJVSXQNWHQPLW%DVWYHUEXQGHQ0XVFKHOQEHIDQGHQVLFKGD]ZLVFKHQ HLQ XQUHJHOPlLJHV1HW]GDVLQGUHLOlQJHUH6WlEHDXVOLHI ª:LUKDEHQ.DUWHQ©VDJWHGHU+lXSWOLQJVWRO](UZDUKlXILJHU*DVWDXIGHP6FKLIIJHZHVHQ(U EHZXQGHUWH ]ZDU GLHVHV WHFKQLVFKH 'LQJ DEHU HU PLWUDXWH JHVFKORVVHQHQ YRQ PDVVLYHUQ +RO] XPJHEHQHQ 5lXPHQ (U HUVFKUDN W|GOLFK DOV XQVHU +LQWHUODGHUJHVFKW] IHXHUWH XQG VlPWOLFKH 9RJHOVFKZlUPH GHU ,QVHO DXIVFKHXFKWH 8QG MHW]W SUlVHQWLHUWH HU PLU HLQ *HIOHFKW YROOHU XQUHJHOPlLJHU 0XVFKHOVFKDOHQ DOV .DUWH ,FK EOLFNWH JHQDXHU KLQ 'LH ZLUNOLFKH .DUWH HLQH +|KHQDXIQDKPH KDWWH LFK JHQDX LQ PHLQHU (ULQQHUXQJ ,FK QDKP GDV *HIOHFKW VR GD GLH GUHL )RUWVlW]H DXI 0RUJHQ 0LWWDJ XQG $EHQG ZLHVHQ XQG HUNDQQWH GD HV WDWVlFKOLFK HLQH .DUWH ZDU %DVWIlGHQ NHQQ]HLFKQHWHQ 0HHUHVVWU|PXQJHQ GLFNHUH 6WUHLIHQ YHUGHXWOLFKWHQ GLH KDXSWVlFKOLFKHQ :LQGH XQG LFKNRQQWHHUNHQQHQGDZLU]XU QlFKVWHQUHODWLYZLQ]LJHQ,QVHOVHJHOWHQ'DV.DQX VFKZDQNWH EHWUlFKWOLFK PDFKWH DEHU HUVWDXQOLFK KRKH )DKUW ,FK EHXJWH PLFK YRU XQG K|UWH GHQ +lXSWOLQJVDJHQ ª,FKZHUGHHXFK0DXNLPLWJHEHQ© ,FK UXQ]HOWH GLH 6WLUQ XQG EHWUDFKWHWH SO|W]OLFK YLHOHV LQ HLQHP DQGHUHQ /LFKW XQG ]XGHP XQWHU HLQHP JlQ]OLFK QHXHQ %OLFNZLQNHO :LU EHLGH KDWWHQ HWZD GLH JOHLFKHQ (UIDKUXQJHQ DEHU VLH VWDPPWHQDXVYHUVFKLHGHQHQ4XHOOHQ0HLQ:LVVHQJLQJYRQGHU*U|HGHV.RVPRVELVKLQXQWHU]X GHQNOHLQHQHLQIDFKHQ'LQJHQGHVWlJOLFKHQ/HEHQV6HLQHVZDUDQGLHVHQ'LQJHQJHZDFKVHQ HLQH $UWUHLQHU1DWXU:LVVHQVFKDIW'LH,QVXODQHUXQGLFKDOV9HUWUHWHUHLQHUJDQ]DQGHUHQ$UWYRQ:HOW ZUGHQVLFKJXWYHUVWHKHQXQGJHJHQVHLWLJHUJlQ]HQN|QQHQ ª:HURGHUZDVLVW0DXNL"©IUDJWHLFK ª(LQHU XQVHUHU lOWHVWHQ 0lQQHU (U YHUORU HLQHQ $UP GXUFK GHQ +DL (U NHQQW DOOH ,QVHOQ GLHVHU :HOW© ,FKODFKWHXQGVDJWH ª.HQQWHUDXFKGLH.VWHQGHUJURHQIHUQHQ/lQGHU"© ª(VJLEWQXU,QVHOQ©VDJWHGHU+lXSWOLQJEHKDUUOLFKª'DV0HHULVWEHUDOOXQGDOOHVZDVLQLKP OLHJW LVW ,QVHO 7DXVHQG ,QVHOQ KLHU KHUXP :ROOW LKU 0DXNL XQG VHLQ %RRW PLWQHKPHQ" (U NDQQ ZHQQLKULKQQLFKWPHKUEUDXFKW]XUFNVHJHOQ© ,FKZDQGWHHLQ ª'DVNDQQIULKQHLQHODQJH)DKUWZHUGHQGHQQZLUVHJHOQ]XHUVWLP=LFN]DFNGXUFKGLH,QVHOQ GDQQQDFK6RQQHQXQWHUJDQJELVZLUZLHGHULQGHU+HLPDWVLQG© ª0DXNLVOlQJVWH5HLVHZDU]ZHLKXQGHUW7DJHODQJXQGHUKDWQLFKWHLQHQ7DJJHGUVWHW© ª,FKQHKPHLKQPLW©,FKHQWVFKORPLFKVFKQHOO HLQHQEHVVHUHQ)KUHUNRQQWHQZLUQLFKWILQGHQ 6WXQGHQODQJ VHJHOWHQ ZLU XQG XQWHUKLHOWHQ XQV EHU 7LHUH XQG 3IODQ]HQ EHU :DVVHU XQG )LVFKH GDQQWDXFKWHGLH,QVHODXI ª8QEHZRKQW1XUHLQSDDUZLOGH6FKZHLQH8QGYLHOH9|JHO©VDJWHGHU+lXSWOLQJ %DQDQHQ XQG )HLJHQ 3DQGDQXV XQG .RNRVSDOPHQ ZLOGHU ,QJZHU XQG HLQH 0HQJH EXVFKDUWLJHU 3IODQ]HQ EHKHUEHUJWHQ HLQH UHLFKH 9RJHOZHOW (LGHFKVHQ XQG ZHQLJH 6FKODQJHQ ZDUHQ ]X ILQGHQ 9HUPXWOLFK ZDUHQ DOOH ,QVHOQ YRU -DKUWDXVHQGHQ YRP DVLDWLVFKHQ .RQWLQHQW DXV EHVLHGHOW ZRUGHQ ODQJVDP XQG LQ NOHLQHQ 6SUQJHQ YRQ HLQHU ,QVHO ]XU DQGHUHQ 'DV GRSSHOUPSILJH %RRW PLW GHU NOHLQHQ 3ODWWIRUP ]ZLVFKHQ GHQ KRFKJHNUPPWHQ (LQElXPHQ QlKHUWH VLFK PLW GHP ODQJHQ 5XGHU JHVWHXHUW JHVFKLFNW PLW +LOIH GHV GUHLHFNLJHQ 'RSSHOUDK6HJHOV PDQ|YULHUW HLQLJHQ %O|FNHQ DXV .RUDOOHQ DXI GHQHQ JURH VFKODQNH 3DOPHQ QHEHQ DEJHVSOLWWHUWHQ %DXPVWPSIHQ VWDQGHQ 0DQJURYHQDUWLJH 6WUlXFKHU ZXFKVHQ YRQ GHU ,QVHO DXV LQV %UDFNZDVVHU KLQHLQ (LQ JHZDOWLJHU 9RJHOVFKZDUPHUKREVLFKDOVZLU]ZLVFKHQ,QVHOXQG5LIIGLH%DVWWDXHEHOHJWHQ ,Q GHQ QlFKVWHQ 6WXQGHQ YHUVXFKWH DXFK LFK )LVFKH ]X VSHHUHQ XQG]X WDXFKHQ (UVWHUHV JHODQJ PLU HLQLJHUPDHQ JXW DEHU GLH ,QVXODQHU VFKLHQHQ 6FKZLPPIORVVHQ XQG .LHPHQ ]X KDEHQ ² VLH VFKZDPPHQXQG WDXFKWHQJHUDGH]X YHUEOIIHQG JXW,FK JDEQDFK GHPGULWWHQ7DXFK YHUVXFK DXI LFKVFKDIIWHGLHVH7LHIHQQLFKW 'LH0XVFKHOQZXUGHQJH|IIQHWXQG]XP7HLOIDQGHQVLFK 3HUOHQ 'HU +lXSWOLQJ KROWH HLQH ]LHPOLFK JURH VFKLPPHUQGH 3HUOH DXV HLQHU JURHQ 0XVFKHO
KHUDXVDOVLFKJHUDGHYRQHLQHPNXU]HQ6WUHLI]XJEHUGDV,QVHOFKHQ]XUFNNDP:LUKDWWHQQLFKW HLQHQHLQ]LJHQ+DLILVFKJHVHKHQ ,QGHQ]ZHL5PSIHQKlXIWHQVLFKJHVSHHUWH)LVFKHXQGVROFKHGLHPLW1HW]HQJHIDQJHQZXUGHQ /DQJVDPZDUHV=HLWDQGLH5FNIDKUW]XGHQNHQ+lXSWOLQJ$UXDQRWDXFKWHDXVGHP:DVVHUDXI ZDUIVHLQWULHIHQGHV+DDU]XUFNXQGVDJWHDWHPORV ª:DVKDVWGXHQWGHFNWZHLHU0DQQ$WODQ"© ª:HQLJ $XIUHJHQGHV© VDJWH LFK ª,FK JODXEH GD HV ZHQLJH JURH 7LHUH DXI GHQ ,QVHOQ JLEW HWZDVPHKU(LGHFKVHQXQGYLHOHYHUVFKLHGHQH9|JHO9LHOOHLFKWPHKUDOVZLUGHQNHQ© ª6RLVWHV©PHLQWHHUXQGVFKZDQJVLFKLQV%RRWª8QGVHKUYLHOH$UWHQYRQ)LVFKHQ© (U VWDQG DXI XQG VFKULH ODXW EHU GLH /DJXQHGD ZLU QXQ ORVPDFKHQ XQG ]XUFNVHJHOQ ZROOWHQ 'HU :LQG VWQGH QXQPHKU JQVWLJ JHQXJ 'LH 0lQQHU VDPPHOWHQ VLFK EUDFKWHQ KHUDQ ZDV VLH JHIXQGHQ XQG HUOHJW KDWWHQ XQG VFKOLHOLFK EDQGHQ ZLU GDV .DQX ORV XQG VHJHOWHQ ]XUFN QDFK 7DIXDIDX ª+DEW LKU VFKRQ HLQPDO IUHPGH 6FKLIIH JHVHKHQ" 6ROFKH ZLH XQVHU 6FKLII"© IUDJWH LFK (V ZDU GHQNEDUGHQQGHUJURH,QVHONRQWLQHQWZDULQHUUHLFKEDUHU1lKH ª1HLQ 1RFK QLH ,KU VHLG GLH HUVWHQ :HLKlXWLJHQ DXI DOO GHQ ,QVHOQ© VDJWH GHU +lXSWOLQJ XQG PDVVLHUWHVHLQH:DGHQª8QGDXHUGHPKDEWLKUGDVVFK|QVWH:HWWHUVHLW-DKUHQPLWHXFKJHEUDFKW 'LHVHV0HHULVWVOXUPUHLFKXQGZLOGDEHUELVKHUZDUHVYRQVHOWVDPHU0LOGHXQG6FK|QKHLW:DQQ ZROOWLKUIDKUHQ"© ,FK]XFNWHGLH6FKXOWHUQ ª,Q HLQLJHQ 7DJHQ :LU ZHUGHQ LP =LFN]DFN DOOH ,QVHOQ GLH LQWHUHVVDQW VLQG DQVWHXHUQ 0DXNL ZLUGXQVOHLWHQ© ª6RZDUHVEHVSURFKHQ©EHVWlWLJWHGHU+lXSWOLQJXQGODFKWHª8QGHUNHQQWGLHYLHOHQ6SUDFKHQ DQGHUHU6WlPPH'LHVHUJURHZLOGH0DQQPLWGHQUROOHQGHQ$XJHQ"© ª=DUR© VDJWH LFK ªKDW HV YRUJH]RJHQ GLH +DLILVFKH ]X IWWHUQ (U VSUDQJ EHU 'HFN© $UXDQR QLFNWHYHUVWlQGQLVYROO :LU NUHX]WHQ LQ HLQHU 0HQJH YRQ ODQJHQ *HUDGHQ ]XUFN ]XU ,QVHO :LU HUUHLFKWHQ VLH JHJHQ 6RQQHQDXIJDQJXQGODQJVDPHUZDFKWHGDV'RUI=ZLVFKHQGHQ0lQQHUQGHV6FKLIIHV GHQ ZHQLJHQ ª2IIL]LHUHQ© XQG GHP JHVDPWHQ 6WDPP KDWWHQ VLFK ZLUNOLFK JXWH %H]LHKXQJHQ HUJHEHQ ² LFK KDWWH VWUHQJ GDUDXI JHDFKWHW GD NHLQH hEHUJULIIH JHVFKDKHQ 'LH 0lQQHU VDPPHOWHQ QHXH (QHUJLHQ UXKWHQ VLFK DXV XQG HV QlKHUWH VLFK GHU 7DJ DQ GHP HV LKQHQ DXI GHU ,QVHO ]X ODQJZHLOLJ ZXUGH 'DJHJHQ JDE HV JHQJHQG 0HGL]LQ ZLHGHU LQ 6HH ]X VWHFKHQ XQG QDFKHLQDQGHU GLH ,QVHOQ ]X EHVXFKHQ (V VROOWH VFKOLHOLFK HLQH 6HHIDKUW GHV 9HUJQJHQV ZHUGHQ NHLQHHUEDUPXQJVORVH-DJGEHUGLH0HHUH$XHUGHPPXWHLFKLUJHQGZDQQ0DJKHOODQHVWUHIIHQ 32/<1(6,(16 ,16(/1 ]X ]lKOHQ ZlUH EHUIOVVLJ XQG VLQQORV JHZHVHQ (V ZDU HLQ ULHVLJHV 'UHLHFNYRQHLQHUJURHQYXONDQLVFKHQ,QVHOLP1RUGHQELV]XGHQ6WHLQLQVHOQZHLWLP2VWHQXQG ELV ]X GHP ,QVHONRQWLQHQW LP :HVWHQ :LU OXGHQ GDV JURH .DQX 0DXNLV DXI GDV 6FKLII ODJHUWHQ 0HQJHQYRQ.RNRVQVVHQXQGDQGHUHQKDOWEDUHQIUXFKWHQHLQQDKPHQ)ULVFKZDVVHUDQ%RUGXQG YHUDEVFKLHGHWHQ XQV YRQ GHP 6WDPP :LU DOOH PHKU DOV YLHU]LJ 0HQVFKHQ KDWWHQ XQV EOHQGHQG HUKROW(LQH0HQJHZLVVHQVFKDIWOLFKHU(LQVLFKWHQEHUGLHVHQXQEHNDQQWHQ7HLOGHU(UGHKDWWHLFK VDPPHOQN|QQHQXQGXQVDOOH]RJHVZLHGHUDQ'HFN)UHPGH.VWHQZDUWHWHQDXIXQV
ª$WODQ 'X ELVW HLQ 0DQQ YRQ GHP LFK QLFKW ZHL ZDV HU ZLOO© VDJWH 0DXNL (U ZDU VR EUDXQJHEUDQQW ZLH HLQ 1HJHU 6HLQ OLQNHU $UP ZDU GLFKW EHU GHP (OOHQERJHQJHOHQN DEJHWUHQQW
ZLH PLW HLQHP 0HVVHU GDV EHU XQG EHU ORFNLJH +DDU ZDU VFKQHHZHL JHZRUGHQ 'LH $XJHQ ZDUHQGLHHLQHVYHUWUlXPWHQ.REROGHV(UVWDQGQHEHQPLUDQGLH5HOLQJGHV+HFNNDVWHOOVJHOHKQW 6HLW7DJHQVHJHOWHQZLUQDFKVHLQHQ$QRUGQXQJHQ ª,FKZHLZDVLFKZLOO²XQGLFKZHUGHHVGLUVDJHQ©PHLQWHLFKª:RKLQIDKUHQZLU"© (U GHXWHWH DXI VHLQH 5RKUJHIOHFKW.DUWH QHEHQ GHU HLQH /XIWDXIQDKPH YRQ PHLQHQ *HUlWHQ IHVWJHKHIWHWZDU ª3LQDNLXQG1HQJRQHQJR*XWH,QVHOQ9LHOH0HQVFKHQ:LUKROHQRIW)UDXHQYRQGRUW© 'DV ZDU HLQ ZHLWHUHV *HKHLPQLV DXI GLHVH $UW NRQQWH GLH ,Q]XFKW QLFKW XP VLFK JUHLIHQ 'LH 0LWJOLHGHU GHU HLQ]HOQHQ 6WlPPH ]RJHQ LQ 6FKZlUPHQ YRQ .DQXV DXV XP )UDXHQ ]X UDXEHQ 2IWPDOVYHUVLFKHUWH0DXNLPLWHLQHPVWUDKOHQGHQ*ULQVHQJLQJHQGLH0lGFKHQJHUQPLWVHKUJHUQ IJWHHUQDFKGHQNOLFKKLQ]X ª:DVILQGHQZLUGRUW"©IUDJWH$JVDFKD $QGHUH7RWHPVPHLQWH0DXNL$QGHUH*|WWHUXQGDQGHUHSIODQ]HQ-HPHKUVLFKGLH,QVHOQGHP VDJHQKDIWHQ JURHQ /DQG LP :HVWHQ XQG 1RUGZHVWHQ QlKHUWHQ GHVWR UHLFKHU ZDUHQ VLH DQ *HZU]HQ DQ %OXPHQ XQG 7LHUHQ 6RJDU 9|JHO GLH QLFKW IOLHJHQ GDIU DEHU ODXIHQ NRQQWHQ XQG JU|HU DOV HLQ 0DQQ ZlUHQ JlEH HV DXI YHUHLQ]HOWHQ ,QVHOQ 0DXNL ZDU HLQ 0DJKHOODQHV GHU SRO\QHVLVFKHQ,QVHOQ ª$EHUZDVZLOOVWGXZLUNOLFK$WODQ"©IUDJWHHUGDQQPLWUDXLVFK 'LH 7(3A5$ KDWWH MHGHQ )HW]HQ /HLQZDQG JHVHW]W XQG VFKR PLW DFKWHUOLFKHP :LQG GDKLQ =LVFKHQGXQGJXUJHOQGElXPWHVLFKGHU*LVFKWYRUGHP%XJ:LUYHUORUHQNDXPHLQH,QVHODXVGHQ $XJHQ DOV GHU $XVJXFN YRUDXV RGHU TXHUDE ZLHGHU HLQH QHXH PHOGHWH 0DXNL YHUVLFKHUWH GDQQ LPPHU GD HV VLFK XP NOHLQH ,QVHOQ KDQGHOWH GLH QXU .RNRVSDOPHQ EHVDHQ QLFKWV VRQVW 1DFKGHQNOLFKEHWUDFKWHWH6KDUPDGLHULHVLJH3HUOHGLHLKUGHU+lXSWOLQJ]XP$EVFKLHGJHVFKHQNW KDWWH ª,FK ZLOO HLQHQ 6WDPP WUHIIHQ RGHU HLQH $Q]DKO YRQ 6WlPPHQ GLH VFKRQ YRU XQV DQGHUH 0HQVFKHQJHVHKHQKDEHQ,FKZLOOGDVLHDOOHNHQQHQOHUQHQ'LH,QVXODQHUXQGGLH0HQVFKHQYRQ GHQ5LHVHQLQVHOQGHQ.RQWLQHQWHQ© ª,FK YHUVWHKH 'DQQ VLQG ZLU ULFKWLJ :LU ZHUGHQ 3LQDNL DQODXIHQ XQG GUDXHQ DQNHUQ $EHU GLH 0lQQHUYRQ1HQJRQHQJRKDEHQVFKRQNOHLQHJHOEH0HQVFKHQJHVHKHQVDJWHQVLH© ª'RUWKLQVHJHOQZLU©EHVWlWLJWH'LHJRGH$YDUUDDP5XGHU 'LH7(55$XPUXQGHWHHLQH,QVHOQDFKGHUDQGHUHQ2IWPDOVDQNHUWHQZLUXQGVFKLFNWHQHLQ%RRW DXV0DXNLVWDQG ZDFKVDP VHLQHQ 6SHHU PLW GHU 6SHHUVFKOHXGHU LQ GHQ +lQGHQ LP %XJ GHV 5XGHUERRWHV DOV HV GXUFKGLH%UDQGXQJDP.RUDOOHQULIIVFKRXQGYRQGHU:HOOHLQGLH/DJXQHJHZRUIHQZXUGH:LU ZXUGHQEHUDOOIUHXQGOLFKXQGQHXJLHULJDXIJHQRPPHQ0DXNLVSUDFKRIIHQVLFKWOLFKMHGHQ'LDOHNW GHUYLHOHQ,QVHOQ $OOHHLQSDDU7DJHZDUIHQZLUYRUHLQHUDQGHUHQ,QVHO$QNHU(VZDUHLQHXQZLHGHUKROEDUH)DKUW :LUOHUQWHQGLH0HQVFKHQXQGLKUH6LWWHQNHQQHQ 0HLQH 0lQQHU WDXVFKWHQ LKUH 0HVVHU XQG DOOHUOHL (LVHQZDUHQ JHJHQ 3HUOHQ XQG EH]DXEHUQGH 6FKPXFNVWFNHDXVYLHOIDUELJHQ.RUDOOHQ (LQLJH OHUQWHQ GLH 6SUDFKH 'LHJR ]HLFKQHWH PLW PHLQHU +LOIH HLQH .DUWH GHU :LQGH XQG 6WU|PXQJHQ]ZLVFKHQGHQ,QVHOQ ,FK NODVVLIL]LHUWH DXV HLQHU /DXQH KHUDXV GLH 3IODQ]HQ GHUHQ 9HUEUHLWXQJ XQG :XFKV YRQ GHU 1DWXU GHU ,QVHOQ DEKLQJ 6LH ZDUHQ ]XP 7HLO YXONDQLVFKHQ 8UVSUXQJV XQG ]XP DQGHUHQ 7HLO YRQ .RUDOOHQULIIHQJHELOGHW 'LH 0HQJHQ DQ 3DOPZHLQ GLH ZLU WUDQNHQ ZDUHQ JUR HLQ )HVW O|VWH GDV DQGHUH DE 3DXVHQORV EHULFKWHWHQ ZLU YRQ XQVHUHP /DQG GDV ZHLW LP :HVWHQ ODJ :LU HUZHLWHUWHQ GDV :HOWELOG GHU ,QVXODQHU²XQGVLHHUZHLWHUWHQXQVHUH.HQQWQLVVHXQG(UNHQQWQLVVH,FKVSUDFKYLHOH%lQGHUYROO IHUWLJWHHLQH8QPHQJH%LOGHUDQXQGVFKULHEYLHOH6HLOHQXQVHUHV/RJEXFKHVYROO 'LH5HLVHGLHYRQ7DIXDIDXLP=LFN]DFNGXUFKGLH,QVHOQYHUOLHIZDUK|FKVWXQGUDPDWLVFK:LU OHJWHQVLHPHLVWHQVLQHLQHPEHJOFNHQGHQ'lPPHU]XVWDQGGHVOHLFKWHQ$ONRKROLVLHUWVHLQV]XUFN
WURW]GHP OLHIHQ ZLU DXI NHLQ 5LII DXI 0DXNL HQWSXSSWH VLFK DOV HLQ 0DQQ GHP RIIHQVLFKWOLFK GLH )lKLJNHLWIHKOWHEHWUXQNHQ]XZHUGHQ(UZDULPPHUQFKWHUQ²HLQZHLWHUHV:XQGHUGHU6GVHH 8QGVRNDPHQZLUVFKOLHOLFKQDFK$UXDUXID (VZDU1DFKW 'LH 7(55$ EHZHJWH VLFK DXI JHUDGHP .XUV GXUFK GLH OHLFKW XQUXKLJH 6HH 9RU XQV GLH 6WHUQH YHUGHFNHQG HUKRE VLFK HLQH ,QVHO 6LH ZDU ]LHPOLFK JUR $OV ZLU VLH LP /LFKW GHU 6WHUQH XQG LP EOHLFKHQ/LFKWGHV0RQGHVJHQDXHUVDKHQNRQQWHQZLUHLQLJH(LJHQWPOLFKNHLWHQIHVWVWHOOHQ 'LHJRPXUPHOWHXQVFKOVVLJ ª9RQKLHUVLHKWGLH,QVHOIODFKDXV,FKPHLQHPLWHLQHPWDIHOlKQOLFKHQ6WUDQGYROOHU3DOPHQXQG *HZlFKVHQ6LHKVWGXGRUWGLH)HXHU$WODQ"© ª-D© HUZLGHUWH LFK ª8QG LFK VHKH DXFK DXI GHP HLQHQ GHU GUHL %HUJJLSIHO GHQ U|WOLFKHQ 6FKHLQ XQGGDUEHUGLH:RONH© $JVDFKDVDJWHDXIJHUHJW ª(LQ9XONDQ"(LQIHXHUVSHLHQGHU%HUJZLHDXIGHU,QVHO9XOFDQR"© ª9HUPXWOLFK,FKNDQQQLFKWJHQDXVHKHQ© 'UHL %HUJJLSIHO GUlQJWHQ VLFK DP ZHVWOLFKHQ (QGH GHU ,QVHO ]XVDPPHQ 6LH VDKHQ NHLQHVZHJV YXONDQLVFK DXV PHKU IODFK XQG YHUODXIHQG ,FK ]RJ PHLQ 7HOHVNRS DXV GHU +DOWHUXQJ VFKRE HV DXVHLQDQGHUXQGEHWUDFKWHWHGLH6LOKRXHWWHGHU,QVHO,FKULHI ª:DUGDU1LPPGLH+lOIWHGHU6HJHOKHUXQWHU© ª9HUVWDQGHQ© 'DV 7DSSHQ EORHU )H DXI GHQ EODQNJHVFKHXHUWHQ VDO]EHUNUXVWHWHQ 3ODQNHQ 'LH 7DXH NQLUVFKWHQGDV+RO]NQDUUWH'HU)HXHUVFKHLQDXIGHP%HUJJLSIHOQDKP]X ª$UXDUXIDLVWDXV)HXHUXQG'DPSIJHERUHQ©PXUPHOWH0DXNLª(VZLUGLPPHUQHXJHERUHQ© 'DV6FKLIIZXUGHODQJVDPHU$XFKGLHVH,QVHOZDUYRQHLQHP5LQJXPJHEHQDEHUHUVFKLHQQLFKW DXV.RUDOOHQ]XEHVWHOOHQ(VPXWHQGHQGXQNOHQ)OlFKHQQDFK)HOVHQDXV/DYDJHVWHLQVHLQ'LH %UHFKHUVFKOXJHQDQLKQHQKRFKXQGEHUVFKWWHWHQVLHPLW6FKDXPXQG1HEHO ª'XZLUVWKLHU$WODQHLQH,QVHOVHKHQGHUHQ%HZRKQHUHLQHJDQ]DQGHUH.XOWXUKDEHQ6LHOHEHQ PLWGHQ)ODPPHQ© ª'HUIHXHUVSHLHQGH%HUJLVWHUJHIlKUOLFK"©HUNXQGLJWHVLFK6VDFKDQ\OHLVH ª0DJVHLQZHLH)UDX©PXUPHOWH0DXNL ª%HMDU©ULHILFKª(LQLJH/RWXQJHQ:LUDQNHUQYLHOOHLFKW© ª6RIRUW.DSLWlQ©NDPHVYRP9RUVFKLII 1XU HLQLJH 3RVLWLRQVODPSHQ EUDQQWHQ 'DV 6FKLII WULHE VFKUlJ DXI GLH ,QVHO ]X XQG QlKHUWH VLFK HLQHP ZLQ]LJHQ /DQGYRUVSUXQJ GHU GLFKW PLW 3DOPHQ 0DQJURYHQ XQG *HEVFK EHZDFKVHQ ZDU 'LH $QJDEHQ GHV /RWHQGHQ ZXUGHQ ODXW DXVJHUXIHQ :LHGHU ILHOHQ HLQLJH 6HJHO 'LHJR VWDQG DP 5XGHU XQG OLH GDV 6FKLII LQ HLQHP ZHLWHQ %RJHQ DXI GDV /DQG ]XWUHLEHQ 8QV DOOHQ ZDU QLFKW EHVRQGHUVZRKOEHLGHP*HGDQNHQLQGHU 1lKH GHV 9XONDQV ]X DQNHUQ 'LH PHLVWHQ 0lQQHU ZXWHQ RKQHKLQ QLFKW ZRUXP HV VLFK GDEHL KDQGHOWH(LQLJHODQJH0LQXWHQYHUJLQJHQ1LFKWVUKUWHVLFKDEHUDOVVLFKGLH3HUVSHNWLYHlQGHUWH VDK LFK ]ZLVFKHQ GHQ 3DOPHQVFKlIWHQ NOHLQH )HXHU IODFNHUQ (LQH JHZLVVH VWDUN XQWHUGUFNWH 8QUXKHEHJDQQVLFKXQWHUGHU0DQQVFKDIWDXV]XEUHLWHQ ª:LUKDEHQVHFK]LJ)X7LHIH.lSWHQ©NDP%HMDUV6WLPPHGXUFKGDV'XQNHO ª:LUDQNHUQ©ULHILFK]XUFN ª9HUVWDQGHQ© (LQH6WXQGHVSlWHUKLQJGDV6FKLIIDQHLQHU$QNHUWURVVH'LH(EEHOLHIDXVGHPXPNUHLVWHQ*HELHW DXVXQGZLUVWDQGHQJHJHQGHQ6WURP$XIGHP9RUVFKLIIGUlQJWHVLFKGLH0DQQVFKDIW]XVDPPHQ ,FK VSUWH LKUH 8QUXKH XQG JLQJ ]X LKQHQ KLQXQWHU 0LW VRUJIlOWLJ DXVJHVXFKWHQ :RUWHQ YHUVXFKWH LFKLKQHQ]XHUNOlUHQZDVHLQIHXHUVSHLHQGHU%HUJZLUNOLFKZDU6LHVFKLHQHQYHUVWHKHQ]XZROOHQ DEHUQLFKW]XN|QQHQ$XFKLFKZXUGHYRQLKUHU8QUXKHDQJHVWHFNW $OOHVLVWXQJHZL1DWUOLFKNDQQGHU9XONDQDXVEUHFKHQVDJWHPHLQ([WUDKLUQ 0DQFKPDO VDJWH PHLQ NRRUGLQLHUHQGHU 9HUVWDQG DXVJHVSURFKHQ ODNRQLVFKH 'LQJH ,FK ZXWH
VHOEVWGDGHU$XVEUXFKHLQHV9XONDQVZHQQEHUKDXSWQXUVFKZLHULJYRUKHU]XVDJHQZDU 0DXNL QlKHUWH VLFK XQV XQG OHJWH VHLQH +DQG DXI PHLQH 6FKXOWHU ,P )LQVWHUQ OHXFKWHWHQ VHLQH $XJHQXQGGLH=lKQH ª+RUFK©VDJWHHUXQGGHXWHWH]XU,QVHO 8QVHUH 8QWHUKDOWXQJ YHUVWXPPWH :LU KLHOWHQ GHQ $WHP DQ hEHU GHQ *HUlXVFKHQ GHV 6FKLIIHV HUKREHQVLFKDQGHUHH[RWLVFKHUH7|QH,FKNRQQWHGDV3RFKHQK|O]HUQHU7URPPHOQXQWHUVFKHLGHQ HLQHQGXPSIHQ6LQJVDQJLQGHUYRNDOUHLFKHQ6SUDFKHGHU,QVXODQHUGDQQGDVJUHOOH.UHLVFKHQYRQ %DXPIO|WHQ ª:DV GHLQHU 0HLQXQJ QDFK© IUDJWH LFK YRUVLFKWLJ ªWXW GLHVHU 6WDPP GRUW" 6LH IHLHUQ YLHOOHLFKW HLQ)HVW"© 0DXNLKREGLH%UDXHQXQGHUZLGHUWHJHKHLPQLVYROO ª6LHEHVFKZ|UHQGHQ*RWWGHV)HXHUV6LHWDQ]HQXQGEULQJHQ2SIHU© ,FKPHLQWHXQEHVWLPPW ª'DVPXLFKVHKHQ'LHJR,FKEUDXFKHHLQ%RRWXQGHLQLJH )UHLZLOOLJH,FKZLOOGLHVHQ7DQ]VHKHQ'DVELQLFKPLUXQGGLHVHU5HLVHVFKXOGLJ© ª,FKVHKHHVQLFKWJHUQGDGXJHKVWDEHULFKJHKHPLW©VDJWH$JVDFKDPLW%HVWLPPWKHLW ª*XW© :LU OLHHQ HLQ %RRW ]X :DVVHU EHPDQQWHQ HV PLW DFKW 5XGHUHUQ 0DXNL $JVDFKD XQG 6KDUPD VWLHJHQ]XPLULQV%RRW,FKQDKPDXVPHLQHP*HSlFNHLQHQ+DQGVFKHLQZHUIHUVWHFNWHHLQH]ZHLWH (QHUJLH]HOOH HLQ XQG EHZDIIQHWH $JVDFKD XQG PLFK PLW GHQ 9LHO]ZHFNSLVWROHQ 'DQQ VWLHHQ ZLU DE0DXNLVWHOOWHVLFKPLWVHLQHU6SHHUVFKOHXGHULQGHQ%XJ6FKDXNHOQGXQGUXFNHQGEHZHJWHVLFK GLH1XVFKDOHDXIGLHGXQNOH.VWH]X'HU:LGHUVFKHLQYLHOHU)HXHUWDQ]WHDXIGHQ:HOOHQDOVZLU XQVQlKHUWHQ0DXNLVFKULHHWZDVLP'LDOHNWGHU,QVHOXQGHLQHVFKULOOH6WLPPHDQWZRUWHWHLKP,FK JODXEWH HLQ OHLVH UXPSHOQGHV *HUlXVFK ]X K|UHQ 9HUPXWOLFK ZDU GHU .LHO GHV %RRWHV DXI HLQHP )HOVHQ HQWODQJJHVFKQXUUW 2KQH HV ]X PHUNHQ ZDU LFK ZLH DOOH DQGHUHQ LQ GHU 6WLPPXQJ HLQJHVSRQQHQ GLH VLFK HQWODQJ GHV PRQGVLFKHOI|UPLJHQ 8IHUV DXVEUHLWHWH 6FKDWWHQ WDQ]WHQ EHU GHQ ZHLHQ 6DQG 'HU )HXHUVFKHLQ ZXUGH KHOOHU =ZLVFKHQ PLU XQG GHQ )HXHUQ KXVFKWHQ 6LOKRXHWWHQ YRUEHL 6FKOLHOLFK KREHQ GLH 0DWURVHQ GLH 5XGHU 'HU .LHO VFKRE VLFK GLH OHLFKW DQVWHLJHQGH6DQGIOlFKHKRFKHLQ5XFNJLQJGXUFKGDV%RRW0DXNLVSUDQJDQ/DQG ª:LU NRPPHQ LQ )ULHGHQ© ULHI HU ª0DXNL YRQ 7DIXDIDX PLW IUHPGHQ )UHXQGHQ 1HKPW XQV IUHXQGOLFKDXI0lQQHUYRQ$UXDUXID© (LQLJH.ULHJHUVFKZHUEHZDIIQHWPLW%DVWU|FNHQXQGODQJHQ6FKLOGHUQNDPHQDXIXQV]X(LQHU VDJWHGXPSI ª,KU VHLG ZLOONRPPHQ :LU WDQ]HQ GHQ 7DQ] GHV )HXHUJRWWHV +HXWH KDW HU PHKUPDOV GHQ %RGHQ HUVFKWWHUW$XFKVLQGJOKHQGH%URFNHQLQV0HHUJHIDOOHQ© (LQ VWHFKHQGHU *HUXFK GUDQJ LQ PHLQH 1DVH 6FKZHIHO" 9HUPXWOLFK ZDUHQ HV YXONDQLVFKH *DVH DXV)XPDUROHQRGHU6ROIDWDUHQ'LH,QVHOZDUQLFKWVDQGHUHVDOVGLH8PJHEXQJHLQHV9XONDQVRGHU PHKUHU9XONDQHXQGHVNRQQWHVHLQGDGDV)HXHUDXVGHU7LHIHVLFKMHGHQ$XJHQEOLFNVLHGHQGXQG GHWRQLHUHQGHUJRXQGGLH/DQGVFKDIWYHUZVWHWH XQGGDV6FKLII]HUVW|UWPHOGHWHVLFKGDV([WUDKLUQ ª'LHVH 0lQQHU NDPHQ YRQ ZHLWKHU © K|UWH LFK 0DXNLV 6WLPPH 6HLQ :RUWVFKZDOO VFKLHQ DEJHVHKHQ YRQGHU ZLOGHQVWDUNUK\WKPLVFKHQ 0XVLNKLQWHUGHQ3DOPHQ GDV HLQ]LJH*HUlXVFK]X VHLQ:LUVWHOOWHQXQVLQHLQHP+DOENUHLVKLQWHUGHQ.ULHJHUQDXI6FKOLHOLFKVDJWHHLQHUYRQLKQHQ HUWUXJHLQHZHLJHVWULFKHQH0DVNHDXV%DVWEHVFKZ|UHQGXQGOHLVH ª.RPPWQlKHU%OHLEWLP6FKDWWHQ6W|UWGHQ7DQ]QLFKW© ª:LUYHUVSUHFKHQHV7lQ]HU©EHVWlWLJWH0DXNL=XPLUJHZDQGWVDJWHHUOHLVH ª6LHKDEHQDOOH.DZDJHWUXQNHQXQGVLQGQLFKWEHLVLFK6LHKDEHQVHKUYLHO$QJVWYRUGHP)HXHU XQGWDQ]HQXPLKUH$QJVWHLQ]XVFKFKWHUQ© .DZD HLQ JUXQGVlW]OLFK HUIULVFKHQGHV *HWUlQN ZDU PLW VWDUNHP 3DOPZHLQ YHUVHW]W ZRUGHQ 'LH ]HUNOHLQHUWH:XU]HOHLQHV3IHIIHUVWUDXFKHVZUGHYHUJRUHQJHPLVFKWXQGDXVJHVFKQLW]WHQ6FKDOHQ JHWUXQNHQ :LU VDKHQ DOV ZLU LQ GLH U|WOLFK IODFNHUQGH +HOOLJNHLW GHV )HXHUV KLQHLQWUDWHQ HWZD
HLQKXQGHUW 0lQQHU XQG )UDXHQ LQ GUHL 7DQ]UHLKHQ (V ZDU HLQH 6]HQH YRQ P\VWLVFKHU (LQGULQJOLFKNHLW 6FKODJDUWLJ EHIDQGHQ ZLU )UHPGOLQJHXQV LP %DQQ GHV7DQ]HVGHU0XVLN ²DOV KlWWHQZLUWHLOJHQRPPHQDQGHUDQJVWHUIOOWHQ7UDQFH(VZDUHLQYROOHQGHWHU0DVNHQWDQ]GHUDXV HLQIDFKHQ DEHU LQ LKUHU 0RQRWRQLH HLQGULQJOLFKHQ 6FKULWWHQ XQG )LJXUHQ EHVWDQG 'LH .|USHU GHU 7DQ]HQGHQ EHZHJWHQ VLFK LQ VlPWOLFKHQ *HOHQNHQ 6LH ELOGHWHQ GUHL .UHLVH ,P 0LWWHOSXQNW GHV 5HLJHQV ORGHUWH HLQ PlFKWLJHV )HXHU $QGHUH )HXHUVWHOOHQ YHUWHLOWHQ VLFK LQ HLQHU ODQJHQ 5HLKH 6KDUPD VFKRE VLFK ]ZLVFKHQ 'LHJR XQG 0DXNL KLQGXUFK XQG NODPPHUWH VLFK DQ PHLQHQ UHFKWHQ $UP,FKZDJWHQLFKWGHQ6FKHLQZHUIHUHLQ]XVFKDOWHQ 7URPPHOQ )O|WHQ GLH DXVJHVWRHQHQ 9RNDOH GHU 7lQ]HU GHU GXUFKGULQJHQGH *HUXFK QDFK6FKZHLGHU*HVWDQNQDFK6FKZHIHOXQGVDXUHP3DOPZHLQGDV6WDPSIHQGHUQDFNWHQ )H XQG GDV +lPPHUQ GHU 6FKlGHOEUHFKHU DXI GLH KDUWHQ 6FKLOGH GLH ZLH 5HVRQDQ]E|GHQ ZLUNWHQGLHVFKZHLWULHIHQGHQ .|USHUVFKLHQHQ HLQVZHUGHQ]XZROOHQ PLW GHQ IXUFKWHUUHJHQGHQ 0DVNHQ ,FKZDUJHEDQQWXQIlKLJPLFK]XEHZHJHQ 'HU7DQ]JLQJXQXQWHUEURFKHQZHLWHU (LQH IXUFKWEDUH 'URKXQJ HUIOOWH GLH /XIW ULQJVXP :HLW KLQWHU XQV VFKOXJ HWZDV VFKZHU LQV :DVVHU(LQPDOEHEWHGHU %RGHQ XQG GLH 6FKHLWH LP )HXHU NUDFKWHQ EHUHLQDQGHU (LQ XQJHKHXUHU )XQNHQVFKDXHU HUKRE VLFK LQ GLH KHLH /XIW 'LH 7lQ]HU KDWWHQ DXIJHK|UW PHQVFKOLFK ]X VHLQ 6LH KDWWHQ LKU :HVHQ DEJHVWUHLIWXQGZDUHQ]XLKUHQ6LQQELOGHUQJHZRUGHQ'UHLULHVLJH7RWHPVlXOHQLQJUHOOHQ)DUEHQ EHPDOW XQG VHKU DXVGUXFNVYROO JHVFKQLW]W XPVWDQGHQ GDV )HXHU (LQLJH 7HLOH VFKPRUWHQ EHUHLWV 5DXFKVWLHJDXI 'LH)O|WHQXQG7URPPHOQVFKLHQHQYRQ0DVFKLQHQLQ*DQJJHKDOWHQ]XZHUGHQ8QXQWHUEURFKHQ NUHLVFKWHQXQGKlPPHUWHQVLH,FKZXUGHIDV]LQLHUWVFKOLHOLFKJHULHWLFKLQHLQHPLOGH)RUPGHU +\SQRVH $OOHV XP PLFK KHUXP ZDU GD]X DQJHWDQ XQV DOOH HLQ]XVFKOlIHUQ 0DXNL O|VWH VLFK DXV XQVHUHU*UXSSHHQWULHLQHP.ULHJHU6SHHUXQG6FKLLGXQGUHLKWHVLFKLQGHQlXHUVWHQ.UHLVHLQ ,FKVDKHVZDJWHDEHUQLFKWHLQ]XJUHLIHQ2GHUNRQQWHLFKLQGLHVHU6HNXQGHVFKRQQLFKWPHKU" 'HU7DQ]JLQJZHLWHU /|VHGLFKDXVGHU6WDUUH,KUVHLGDOOHLQ*HIDKU'HQNHDQGDV6FKLIINUHLVFKWHGHU([WUDVLQQ,FK EHUK|UWHGLHVH:DUQXQJHEHQVRZLHGLHIROJHQGHQ 'LHVH *HVFK|SIH YRUXQV GLH VLFK GUHKWHQ XQG PLW GHQ *OLHGPDHQ VFKOHQNHUWHQ K\SQRWLVLHUWHQ VLFK VHOEVW XQG XQV PLW VLFK 'LH .UHLVH GUHKWHQ VLFK MHZHLOV LQ YHUVFKLHGHQHQ 5LFKWXQJHQ 'LH VFKODQNHQQDVVHQXQGKHOOEUDXQHQ.|USHUERJHQXQGYHUGUHKWHQVLFK6FKLOGH6FKlGHOEUHFKHUXQG 6SHHUH ZXUGHQ KRFKJHULVVHQ XQG ZLUEHOWHQ GXUFK GLH /XIW 3O|W]OLFK VFKZLHJHQ GLH )O|WHQ 'DQQ EOLHVHQVLHHLQHQXQHUWUlJOLFKKRKHQ7RQGHULQGLH 7URPPHOIHLOHVWDFKZLH HLQHJOKHQGH1DGHO $EHUPDOVEHEWHGHU%RGHQ,UJHQGZRUROOWHHLQ)HOV]X7DOXQGUL%lXPHPLWVLFK 'LH7URPPHOVFKOXJHLQHQUDVHQGHQ:LUEHO 'LH GUHL .UHLVH ]HUVWREHQ ELOGHWHQ LQ HLQHP NRPSOL]LHUWHQ 0XVWHU QHXH *UXSSHQ 'UHL 0lQQHU XQGHLQJHUWHQVFKODQNHV0lGFKHQYHUIROJWHQHLQDQGHUXPGLHGUHL7RWHPVlXOHQKHUXP ª:DKQVLQQ©IOVWHUWH'LHJRGH$YDUUDQHEHQPLU 'HU9XONDQEULFKWDXVVFKULHGHU([WUDVLQQ ,FKYHUPRFKWHPLFKQLFKW]XUKUHQ'DV0lGFKHQVRJXWZLHXQEHNOHLGHWHQWULHLQHP.ULHJHU GHQ6FKlGHOEUHFKHUXQGVWHFNWHLKQLQV)HXHU:lKUHQGGHU.RSIGHU:DIIH]XEUHQQHQXQGGDQQ ]X JOKHQ EHJDQQ XPWDQ]WHQ GLH 0lQQHU GDV 0lGFKHQ 6FKOLHOLFK EUDQQWH GHU .RSI GHV 6FKlGHOEUHFKHUV 'DV0lGFKHQULLKQDXVGHU*OXWXQGVFKZHQNWHLKQLQZLUUHQ.UHLVHQXQG6FKOHLIHQGXUFKGLH /XIW)XQNHQIORJHQYRQGHPNRPHWHQDUWLJHQ.RSIZHJ'LH.ULHJHUZLFKHQ]XUFN'DV0lGFKHQ YHUIROJWHVLH ª6FKODJ]X6FKODJ]X©ULHIHQGLHDQGHUHQ7lQ]HU 1HLQ 6LH ULHIHQ HV QLFKW 6LH VW|KQWHQ HV $OV RE LKUH 6WLPPElQGHU HEHQIDOOV LQ GHU )HVVHO GHU GlPRQLVFKHQ 7UDQFH JHIDQJHQ ZlUHQ (LQ XUKDIWHU /DXW NDP DXV YLHOHQ .HKOHQ ,FK VFKUDN DXI
$XFK KLQWHU GHP /LFKWNUHLV EHZHJWHQ VLFK 0HQVFKHQ 'LH 7RWHPVlXOHQ VFKZDQNWHQ DOV GLH (UGH VLFKZLHGHUHQDQJHKREHQXQGQDFK]ZHL5LFKWXQJHQJOHLFK]HLWLJJHVWRHQXQGJHVFKREHQZUGH 6FKODJ]X6FKODJ]X6FKODJ]X 'DV 0lGFKHQ KROWH GHQ HUVWHQ 7lQ]HU HLQ GHU LQ 6FKOHLIHQ YRQ LKU ZHJWDQ]WH -HGH %HZHJXQJ JHKRUFKWH GHP 5K\WKPXV GHU 7URPPHO 'HU VFKULOOH 7RQ GHU )O|WH ]LWWHUWH QRFK LPPHU GXUFK GLH /XIW 'HU JOKHQGH .RSI GHV 6FKlGHOEUHFKHUV UDVWH DXIJOKHQG XQG IXQNHQVFKODJHQG GXUFK GLH 'XQNHOKHLWXQGVFKLHQGHQ.RSIGHV7lQ]HUV]XWUHIIHQ'HU0DQQVWLHHLQHQJHOOHQGHQ6FKUHLDXV XQG VDQN ]X %RGHQ 'LH EHLGHQ DQGHUHQ 7lQ]HU GUDQJHQ ZLHGHU DXI GDV 0lGFKHQ HLQ XQG GHU ]ZHLWH HPSILQJ GHQ W|GOLFKHQ +LHE (U JLQJ VFKUHLHQG ]X %RGHQ XQG DXFK GHU GULWWH VWDUE 'DQQ VFKULHQGLHDQGHUHQ7lQ]HUHWZDVGDVLFKQLFKWYHUVWDQG 'DV0lGFKHQVSUDQJLQV)HXHUXQGYHUVFKZDQG ,FK VFKWWHOWH PLFK (LQ RKUHQEHWlXEHQGHV .UDFKHQ GUDQJ GXUFK GLH 1DFKW 3O|W]OLFK ]XFNWH HLQ URWHU%OLW]GXUFKGDV)LUPDPHQWHLQODQJKDOOHQGHU'RQQHUHUW|QWH 'LHJRVFKULHLQSDQLVFKHU)XUFKW ª'HU%HUJ$WODQ8QVHU6FKLII:LUPVVHQ]XUFN© ,FK VFKWWHOWH PLFK ,FK YHUVXFKWH GHQ %DQQ DE]XVWUHLIHQ ,FK PHUNWH QLFKW HLQPDO GD VLFK GLH 1lJHO 6KDUPDV LQ PHLQHQ 2EHUDUP ERKUWHQ %OXWVWURSIHQ TXROOHQ ]ZLVFKHQ GHQ )LQJHUNXSSHQ KHUYRU:LHGHUEHEWHGHU%RGHQGLH3DOPHQXQGGLH7RWHPVlXOHQVFKZDQNWHQ ª=XUFN]XP%RRW© 0DXNLZDUI6SHHUXQG6FKLOG]X%RGHQDOVVLFKPHLQH(UVWDUUXQJO|VWH,FKKlWWHYRQVHOEVWQLFKW GLH *HZDOW EHU PLFK ]XUFNJHZLQQHQ N|QQHQ $EHU GDV 0lGFKHQ GDV QRFK LPPHU ZLH KDOE EHVLQQXQJVORVWDQ]WHZDUIGHQTXDOPHQGHQ6FKlGHO EUHFKHU LQV )HXHU /DQJVDP HUKREHQ VLFK GLH GUHL 7lQ]HU =ZLVFKHQ GHP 6SUXQJ LQV )HXHU XQG GHP HUQHXWHQ $XIWDXFKHQ GHU ELHJVDPHQ 7lQ]HULQ NODIIWH LQ PHLQHU (ULQQHUXQJ HLQH /FNH GDV EUDFKWHPLFKZLHGHULQGLH5HDOLWlW]XUFN ª$OOH0DQQ]XUFN]XP6FKLII©NHXFKWHLFK 'DQQZDQGWHQZLUXQV]XU)OXFKW(LQGRQQHUQGHV*HUlXVFKEHJOHLWHWHXQV0HKUPDOVZXUGHQZLU ]X%RGHQJHVFKOHXGHUW'LH7(55$IHXHUWHHLQHQ6FKXDEGHUVLFKLQGHPXQWHULUGLVFKHQ*UROOHQ XQGGHPREHULUGLVFKHQ.UDFKHQ.QLVWHUQXQG5XPRUHQVHOWVDPYHUORUHQDXVQDKP ª6FKQHOOHU©EUOOWH0DXNLKLQWHUXQV :LU VWREHQ KLQXQWHU ]XP 6WUDQG UDIIWHQ XQV LPPHU ZLHGHU DXI VWROSHUWHQ ZHLWHU XQG HUUHLFKWHQ GDV :DVVHU GDV LQ IODFKHQ VFKZDSSHQGHQ :HOOHQ KLQ XQG KHU IOXWHWH 8QVHUH +lQGH NODPPHUWHQ VLFKDQGHQ5DQGGHV%RRWHVVFKREHQHVLQV:DVVHUKLQHLQXQGDOVXQVDEHUPDOVHLQH:HOOHIDWH XQG PLW VLFK UL ZDUIHQ VLFK GLH 0DWURVHQ DXI GLH 5XGHUElQNH 0DXNL ZXUGH YRQ PLU LQV %RRW JH]RJHQ'LHJRNODPPHUWHVLFKDQV5XGHU:LUUXGHUWHQZLHGLH:DKQVLQQLJHQ'LHODQJHQ6FKlIWH GHU5LHPHQERJHQVLFKGXUFK(LQH:RJHULXQVPLWVLFKGLHQlFKVWHZDUIXQVZLHGHU]XUFNGHP WRGEULQJHQGHQ 6WUDQG HQWJHJHQ ,P 8QWHUEHZXWVHLQ K|UWH LFK ZLH :DUGDU GLH 0lQQHU DQV *DQJVSLOOWULHE'HU$QNHUZXUGHJHOLFKWHW,FKERJPLFK]XU6HLWHXQGOLHGDV5XGHUORV %UOOHQGEUDFKVLFKHLQHPHWHUKRKH:DVVHUZDQGDQGHQ)HOVHQEHUVFKWWHWHXQVPLW:DVVHUXQG 1HEHO'DVURWH*OKHQDXIGHP%HUJZDUVWlUNHUJHZRUGHQ(VVDKDXVDOVREGHU.UDWHUDXVODXIHQ RGHUEHUNRFKHQZUGH0HLQ+DQGVFKHLQZHUIHUZXUGHHLQJHVFKDOWHW ª6LQGDOOH0DQQLP%RRW"©VFKULHLFK ª-D,FKKDEHJH]lKOW©EUOOWH'LHJR]XUFN ,UJHQGZR ZHLW OLQNV YRQ XQV ]LVFKWH XQG NUHLVFKWH GLH 1DWXU ,FK NRQQWH QLFKWV HUNHQQHQ DEHU IOVVLJH/DYDUDXVFKWHLQ.DVNDGHQLQV0HHUXQGYHUZDQGHOWH0HHUZDVVHULQ'DPSI'LHJHVDPWH 1DWXU ZDU LQ $XIUXKU 9RJHOVFKZlUPH UDVWHQ ZLH ZDKQVLQQLJ EHU XQV KLQ XQG KHU 6FKZHLQH VWU]WHQVLFKNUHLVFKHQGLQV:DVVHU'LH7URPPHOQXQGGLH)O|WHQZDUHQQLFKWPHKU]XK|UHQ:LU SDVVLHUWHQ PLW HLQHU ULHVLJHQ ]XUFNIOXWHQGHQ 6HH GHQ 5LQJ DXV )HOVHQ 8QVHU %RRW ZXUGH JHVFKDXNHOWXQGKRFKJHKREHQ0LWHLQHPJHZDOWLJHQ6SUXQJ VHW]WHQ ZLU EHU HLQHQ VFKDUINDQWLJHQ /DYDIHOVHQ $OV GHU /LFKWEDONHQ GXUFK GLH QHEOLJH XQG VWDXEHUIOOWH/XIWVFKZHQNWHWUDIHUQDFKIQI]LJ0HWHUQGLH6FKLIIVZDQG
ª5XGHUW5XGHUWXPHXHU/HEHQ©VFKULH'LHJR $XFK LFK JULII ZLHGHU ]XP 5LHPHQ :LU VWHPPWHQ XQV JHJHQ GLH 5DVWHQ LP %RGHQ GHV %RRWHV 8QVHUH 5FNHQ NUPPWHQ XQG VWUDIIWHQ VLFK 6FKZHL OLHI LQ %lFKHQ EHU XQVHUH .|USHU 'DV 6FKLII YRU XQV GUHKWH VLFK ODQJVDP KHUXP 6HJHO ZXUGHQ DXIJH]RJHQ XQG MHPDQG VFKULH YRQ GHU 5HOLQJKHUXQWHU ª:LUZHUIHQHLQ7DX© ª9HUVWDQGHQ©EUOOWHLFK]XUFN =XIlOOLJILHOPHLQ%OLFNQDFKREHQ:LUKDWWHQXQVYLHOOHLFKWGUHLKXQGHUW0HWHUYRPJURHQ)HXHU HQWIHUQW'LH,QVHOZDUJXW]XEHUEOLFNHQ(LQEUHLWHUUDVHQGVFKQHOOHU%DFKVWU|PWHYRQGHU6SLW]H GHV .UDWHUEHUJHV KLQXQWHU $Q VHLQHQ 5lQGHUQ JLQJ GHU :DOG LQ )ODPPHQ DXI 5DXFKVFKZDGHQ VFKREHQVLFKLPPHUZLHGHUYRUGDVJUDXVLJH%LOG$QHLQLJHQ6WHOOHQOHXFKWHWHGLH1DFKWLQHLQHP EOXWLJURWHQ6FKLPPHU/DQJVDPHQWIHUQWHVLFKDXFKGDV6FKLIIYRQVHLQHP$QNHUSODW](LQ7DXHQGH SUDOOWHLQPHLQHQ5FNHQ ]HKQ+lQGHJULIIHQGDQDFK'DV7DXZXUGHDP%XJGHV%RRWHVEHOHJW HLQ 5XFN VWUDIIWH GDV 6HLO XQG XQVHUH )DKUW ZXUGH VFKQHOOHU (LQ JOXWKHLHU :LQG NDP DXI XQG GUlQJWHXQVYRP/DQGZHJ 0HLQ 6FKHLQZHUIHU ERKUWH VHLQHQ /LFKWVWUDKO GXUFK GLH UDXFKYHUGXQNHOWH )LQVWHUQLV ,FK VDK ZLH GLH,QVXODQHULKUH.DQXVEHPDQQWHQXQGVLFKGDPLWLQGLH/DJXQHVWU]WHQ6LHSDGGHOWHQZLHZLOG 1HEHQGHQ%RRWHQVDKLFKGLH.|SIHGHU6FKZLPPHQGHQ ª1lKHUKHUDQ© $XI GHU 7(55$ ZXUGHQ VlPWOLFKH 6HJHO JHVHW]W (V ZXUGH XQHUWUlJOLFK KHL 8QJHKHXUH 'DPSIZRONHQHUKREHQ VLFK 'DV 6FKLIIZXUGH PLW GLHVHP :LQG JHULVVHQ (LQLJH 0DWURVHQ KROWHQ GDV 7DX HLQ :LU YHUVWDXWHQ GLH 5LHPHQ :HQLJH =HLW VSlWHU ODJHQ ZLU OlQJVVHLWV XQG GLH HUVWHQ 0lQQHUWXUQWHQEHUGLH6WULFNOHLWHUKRFKXQGVSUDQJHQDQ'HFN ª'LHJR6FKQHOODQV6WHXHU©VDJWHLFKXQGVWUDKOWHGLH/HLWHUDQ 'LHJR QDKP GDV 0lGFKHQ KDOI LKU XQG KLQWHU LKU HQWHUWH HU GDV 6FKLII .RPPDQGRV HUW|QLHQ .HXFKHQGXQGVFKZLW]HQGWXUQWHQGLH0lQQHUKRFK'LH/HLQHQDQGHQHQGDV%RRWKRFK JHZXQGHQZXUGHVWUDIIWHQVLFKQDFKGHPGLH+DNHQEHIHVWLJWZRUGHQZDUHQ,FKEHIDQGPLFKDOV OHW]WHULP%RRWKREHLQHQ6FKlGHOEUHFKHUKRFKGHUUlWVHOKDIWHUZHLVHOLHJHQJHEOLHEHQZDUXQGJDE PHLQH $QZHLVXQJHQ :lKUHQG GLH 7(55$ VWDPSIHQG XQG VFKOLQJHUQG LQ GHQ XQUHJHOPlLJHQ :LQGVW|HQYRQGHU,QVHOZHJIXKUKROWHQGLH0lQQHUGDV%RRWKRFKXQGYHUWlXWHQHV:LUZDUHQ JHUHWWHW,FKOLHVlPWOLFKH/DWHUQHQVHW]HQNRQWUROOLHUWHDOOHVDQ'HFNXQGJDEGDQQ$QRUGQXQJHQ -HGHVIUHLH7DXZXUGHEHU%RUGJHZRUIHQXQGEHOHJW 0DXNLVDJWH ª+LHU GD GUEHQ LVW HLQ NOHLQHV )HOVHQLQVHOFKHQ 'DKLQ ZHUGHQ VLH VLFK UHWWHQ ZROOHQ +LOIVW GX LKQHQ"© ª1DWUOLFK©VDJWHLFKª$EHUHVZLUGVFKZHUVHLQ© 'DV6FKLIINUHX]WHHLQH6WXQGHVSlWHU]ZLVFKHQGHQ8QWLHIHQYRUJHODJHUWGHP/DYDLQVHOFKHQ'LH YXONDQLVFKH,QVHOZXUGH]XP7HLOYHUZVWHW-HGHUGHUQLFKWPLWGHP6FKLII]XWXQKDWWHVWDUUWHDXI GDV%LOG 'HU .HVVHO GHV .UDWHUV ZDU YROOHU GQQHU JDVHUIOOWHU /DYD 6LH VFKLHQ VR GQQ ZLH :DVVHU ]X VHLQ XQG ZDU YRQ ZHLJOKHQGHU )DUEH 1DFKGUFNHQGHV 0DJPD GHU (UGNUXVWH VFKREGLH 0DVVHQ KRFK 'RUW ZR GHU .UDWHU DXVJHEXFKWHW XQG EHVRQGHUV VFKZDFK ZDU NRFKWH GLH /DYD EHU 6LH VWU|PWH LQ HLQHU %UHLWH YRQ PHKU DOV IQI]LJ 0HWHU ]X 7DO UDVHQG VFKQHOO IOR JHQDX LQ GHQ *HOlQGHYHUWLHIXQJHQ VWDXWH VLFK DXI ZXUGH YRP %HEHQ GHV 8QWHUJUXQGHV ZLHGHU DXIJHVFKWWHOW IOR ZHLWHU XQG YHUQLFKWHWH GLH 9HJHWDWLRQ VFKOLHOLFK ILHO GDV JOKHQGH 0DWHULDO LQV 0HHU $Q GLHVHU 6WHOOH NRFKWH GHU 2]HDQ (LQH ZHLH 'DPSIZRONH HUKRE VLFK $VFKH XQG ZLQ]LJH )HOVEURFNHQ ZLUEHOWHQ GXUFK GLH /XIW .RFKHQGH /XIW HLQ IHLQHU 6SUKUHJHQ GHU $VFKH PLW VLFK IKUWHXQGDQXQVHUHQ6HJHOQXQG7DXHQNRQGHQVLHUWHIlUEWHGDV6FKLIIVFKZDU]6WlQGLJEHEWHGHU %RGHQ VFKOXJHQ :HOOHQ KRFK (LQ 'U|KQHQ JHPLVFKW PLW HLQHP KHXOHQGHQ %UDXVHQ XQG VWlQGLJ DEZHFKVHOQGHQ([SORVLRQHQHUIOOWHGLH1DFKW:LUVDKHQNHLQHQHLQ]LJHQ6WHUQ 6KDUPDVWDQGQHEHQPLUDQGHU5HOLQJGHV+HFNNDVWHOOVXQGVDJWHOHLVH
ª'LH,QVXODQHU$WODQ²ZDVN|QQHQZLUWXQXPLKQHQ]XKHOIHQ"© ,FK GUHKWH ODQJVDP GHQ 6FKHLQZHUIHU h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lQ]HULQ 1LFKW HLQPDO LKU +DDU ZDU YHUVHQJW ZRUGHQ *HJHQ0LWWDJDOVGDV7REHQGHV9XONDQVQDFKJHODVVHQKDWWHDOV]ZHL*HZLWWHUGLHPHLVWHQNOHLQHQ %UlQGHJHO|VFKWXQGGLH/XIWJHUHLQLJWKDWWHQEHIDQGVLFKGLH%HY|ONHUXQJZLHGHUDXIGHU,QVHO :LUIDQGHQDOVZLUZHLWHUVHJHOWHQQLFKWHLQHHLQ]LJH/HLFKHLP0HHU 0LW GHU VFKUlJHQ KlOLFKJUDXHQ 5DXFKVlXOH LP 5FNHQ VHJHOWHQ ZLU GDYRQ DQGHUHQ ,QVHOQ HQWJHJHQ ª:RZROOWHVWGXGHQJURHQ.DSLWlQPLWVHLQHQGUHL6FKLIIHQWUHIIHQ$WODQ"©IUDJWH0DXNLHLQHV 7DJHVDOVZLUZLHGHUXP]ZDQ]LJRGHUPHKU,QVHOQKLQWHUXQVJHODVVHQKDWWHQ ,FKGHXWHWHDXIHLQH,QVHOPHLQHU.DUWH 6LH VROOWH HLQPDO GHQ 1DPHQ &HEX HUKDOWHQ +HXWH VFKULHEHQ ZLU GHQ $SULO :DV XQWHUQDKPLQGLHVHU6WXQGHGHU3RUWXJLHVH"0LFKEHVFKOLFKDEHUPDOVHLQVFKOHFKWHV*HIKOZHQQ LFKDQLKQXQGVHLQH]XVDPPHQJHVFKPRO]HQH)ORWWHGDFKWH 6HOEVW HLQ 0DJKHOODQHV NDQQ VWHUEHQ ZHQQ HU HLQHQ )HKOHU EHJHKW RGHU GLH 1DWXU GHU 6GVHH ]XVFKOlJWVDJWHGHU([WUDVLQQ ª'DQQ©PHLQWH0DXNLVLQQLHUHQGªVROOWHQZLUXQVDXIGLH VHQ :HJ PDFKHQ :LU EUDXFKHQ ]LHPOLFK ODQJH GRUWKLQ XQG GX VDJVW LPPHU GD (LOH HLQ *HVFKHQNGHV%|VHQLVW© ª5HFKWJHVSURFKHQ©VDJWHLFKLQVHLQHU6SUDFKHXQGJDEPHLQH$QRUGQXQJHQ &21&(37,21 KLH GDV 6FKLII GHVVHQ )ODPPHQ XQV GLH OHW]WHQ 0HLOHQ GHQ :HJ ZLHVHQ ,Q GHU 1lKHHLQHUNOHLQHUHQ,QVHOGLH0DJKHOODQHVVLFKHUHUVFKHLQHQPRFKWHYHUEUDQQWHGDVGULWWH6FKLII GHU ([SHGLWLRQ :LOGH 9HUPXWXQJHQ PDFKWHQ GLH 5XQGH DQ 'HFN PHLQHU 7(55$ :LU NDPHQ PLW 9ROO]HXJ QlKHU GUHKWHQ YRU GHP 5LII EHL XQG EHWUDFKWHWHQ GDV XQIDEDUH 6FKDXVSLHO :DV ZDU JHVFKHKHQ" 1XUGLH 75,1,'$' XQG GLH 9,&725,$ ZDUHQ YRQ GHU )ORWWH QRFK EULJ XQG DOV LFK GLH %LOGHU GHV $OEDWURV PLW PHLQHU (ULQQHUXQJ YHUJOLFK XQG GXUFK PHLQ 7HOHVNRS EOLFNWH EHJULII LFK 6LHKDWWHQGDV6GLLIIVHOEVWDQJH]QGHWXQGMHGHQ*HJHQVWDQGGHUYRQ:LFKWLJNHLWZDUDXIGLH EHLGHQOHW]WHQ6FKLIIHYHUWHLOW$OOHVVDKVRDXVDOVREGLH6FKLIIHHLQHQEHLVSLHOORVHQ,UUZHJKLQWHU VLFK KlWWHQ $EHU ZR ZDU 6HxRU )HUQDQGR" ,FK NRQQWH LKQ QLUJHQGZR HQWGHFNHQ :LH ZHLW OIWHWH LFK PHLQ ,QNRJQLWR ZHQQ LFK MHW]W PLW GHU 7(55$ QlKHUNDP" ,FK OLH DQNHUQ XQG EUDFKWH GDV JU|WH %RRW ]X :DVVHU :LU UXGHUWHQ XQUXKLJ DQ /DQG DQ GHU VWHUEHQGHQ &21&(37,21 YRUEHL
(LQH*UXSSHYRQ0DWURVHQUDQQWHDXIXQV]XDOVGDV%RRWDXIGHQ6WUDQGOLHIXQGPHLQH0lQQHU LQV:DVVHUVSUDQJHQ ª'DV LVW GHU 6SDQLHU GHP GLH 7(55$ JHK|UW© VFKULHQ GLH 0lQQHU (V ZDUHQ ZDKUH (OHQGVJHVWDOWHQ +RIIQXQJVORVLJNHLW+XQJHUXQG1RWVSUDFKHQDXVLKUHQ*HVLFKWHUQ,FKVFKWWHOWH EHJULIIVVWXW]LJGHQ.RSI ª%ULQJWPLFK]XP*HQHUDONDSLWlQ0lQQHU©VDJWHLFKª:RILQGHLFKLKQ"© 6FKOLHOLFKQDFKODQJHP6FKZHLJHQVDJWHHLQHUGHU0lQQHUOHLVH ª6HxRU0DJKHOODQHVLVWWRW(UVWDUEDPVLHEHQXQG]ZDQ]LJVWHQ$SULO+HUU© ,FKVHW]WHPLFKDXIGLH%RUGNDQWHGHV%RRWHV $OVRGRFK'HLQH$KQXQJZDUULFKWLJNRPPHQWLHUWHGHU/RJLNVHNWRU ª:LHLVWGDVJHVFKHKHQ"©HUNXQGLJWHVLFK'LHJRIDVVXQJVORVXQGJULIIQDFKGHU:DIIH 6LH EHULFKWHWHQ HV XQV VWRFNHQG XQG LPPHU ZLHGHU YRQ GHU (ULQQHUXQJ EHUPDQQW 1DFK HLQHU ODQJHQ ,UUIDKUW GXUFK GHQ |VWOLFKHQ 7HLO GLHVHV JHZDOWLJHQ 2]HDQV ZDUHQ VLH ]XQlFKVW KDOEYHUKXQJHUWDQ]ZHLVWHLQHUQHQ,QVHOQXQWHUKDOEGHVVGOLFKHQ:HQGHNUHLVHVYRUEHLJHNRPPHQ 6LH KDWWHQ VLFK ]XOHW]W YRQ 5DWWHQ XQG DXIJHZHLFKWHP /HGHU HUQlKUW (LQKXQGHUWVLHEHQXQGVLHE]LJ 0HQVFKHQ ZDUHQ QRFK EULJ 9LHOH VWDUEHQ DXI GLHVHP $EVFKQLWW GHU )DKUW (WZD YRU HLQHP -DKU DP0lU]KDWWHQVLHGDQQHQGOLFKHLQHJUQH,QVHOHQWGHFNW'LH(LQJHERUHQHQHQWHUWHQZLHDXFK EHLXQVGDV'HFNXQGEHVWDXQWHQLQLKUHU1HXJLHUGHDOOHVZDVVLHIDQGHQ6LHQDKPHQPLWZDVVLH WDXVFKHQ ZROOWHQ ² GHVKDOE QDQQWH 0DJKHOODQHV GHU VLFK GDV (LJHQWXP PLW )HXHU XQG .DPSI ]XUFNKROWH GLHVH ,QVHOJUXSSH GLH 'LHEVLQVHOQ GLH /DGURQHQ 'LH 5HLVH JLQJ ZHLWHU PDQ NRQQWH VLFK ZLHGHU VDWWHVVVHQ PDQ VHJHOWH QDFK 1RUGHQ ZHLWHU 9LHO ]X ZHLW QDFK 1RUGHQ HLQ Y|OOLJ IDOVFKHU.XUVGDFKWHLFK:DUXPKDW0DJKHOODQHVPHLQHQ.DUWHQQLFKWJHJODXEW" (LQHUGHU/HXWHPXUPHOWH ª(UIDQGHLQHQ%ULHIDQ'HFN9RQ(XFK6HxRU$WODQ(UYHUVXFKWHZRKO(XUHQ.XUV]XIDKUHQ DEHUZLUNDPHQQLHPDOVDQGLH*HZU]LQVHOQ© ª9RQ GHQ 0ROXNNHQ VHLG LKU© VDJWH 'LHJR DXIJHEUDFKW ªDXFK QRFK KHU]OLFK ZHLW HQWIHUQW :LH JLQJHVZHLWHU"© ,FKVFKZLHJXQGK|UWH]X 0DJKHOODQHV KDWWH EHZLHVHQ GD GLH (UGH UXQG ZDU (U HUUHLFKWH MHGHQIDOOV GLH ,QVHOQ GHV 6GPHHUHV YHUIHKOWH DEHU VHLQ =LHO 6WDWW EHL GHQ 8QJOFNVLQVHOQ JHQDX QDFK :HVWHQ ]X VHJHOQ VHJHOWH HU QDFK 1RUGZHVWHQ (U ZDU PHKUPDOV KDDUVFKDUI DQ ,QVHOQ YRUEHLJHVHJHOW GHUHQ (LQJHERUHQHZLUDXIVHLQ(UVFKHLQHQYRUEHUHLWHWKDWWHQ6FKOLHOLFKHUUHLFKWHPDQ,QVHOQDXIGHQHQ VFKRQ DQGHUH VHHIDKUHQGH 9|ONHU EHNDQQW ZDUHQ GLH RIIHQVLFKWOLFK YRP 2VWUDQG GHV .RQWLQHQWV NDPHQ0DQ WULHE +DQGHO PLWHLQDQGHU XQG HLQ DQ VLFK XQEHGHXWHQGHU =ZLVFKHQIDOO IKUWH GD]X GD GHU 3RUWXJLHVHHLQH6WUDIH[SHGLWLRQDXVUVWHWH(VJDE.DPSI'LH(LQJHERUHQHQIDOVFKEHKDQGHOWXQG DXVJHQXW]W ZHKUWHQ VLFK %HLP 5FN]XJVJHIHFKW VWDUE 0DJKHOODQHV YRQ 3IHLOHQ JHWURIIHQ LQ GHU /DJXQHhEHUDOOKDWWH PDQ *ROG JHIXQGHQ :DUHQWDXVFKZXUGH EHWULHEHQ DEHUGLHVNRQQWHQQLFKW GLH HUVHKQWHQ *HZU]LQVHOQ VHLQ 0DQ EHNHKUWH GLH (LQJHERUHQHQ ]XP FKULVWOLFKHQ *ODXEHQ ZDV VLQQORVZDUXQGVLFKDOVDXHURUGHQWOLFKYHUGHUEOLFKHUZHLVHQVROOWH0DNWDQKLHGLH,QVHODXIGHU 0DJKHOODQHV VWDUE 0DQ EHUJDE VFKOLHOLFK QDFK VHKU JURHU 9HUZLUUXQJ GDV .RPPDQGR DQ 6HUUDQR XQG %DUERVD JHPHLQVDP 'XDUWH %DUERVD ZDU HLQ VFKOHFKWHU .DSLWlQ (U IRUGHUWH 0DJKHOODQHV6NODYHQ(QULTXHKHUDXVXQGVFKOLHOLFKJDEHVHLQHQ]ZHLWHQ.DPSILQGHP6HUUDQR YRQ GHU 75,1,'$' XQG VHLQHQ .DPHUDGHQ IHLJH LP 6WLFK JHODVVHQ ZRUGHQ ZDU 1XU QRFK 0lQQHU ZDUHQ EULJ DOV GLH 6FKLIIH ZHLWHUVHJHOWHQ 'LHVH ,QVHO DXI GHU PDQ VLFK ZRKO IKOHQ NRQQWHZXUGH]XP3XQNWGHU(QWVFKHLGXQJ²PDQYHUWHLOWHGLH0lQQHUXQGGDV0DWHULDODXIGLH EHLGHQOHW]WHQ6FKLIIHXQG]QGHWHGLH&21&(37,21DQ,FKGUHKWHPLFKKHUXP JHUDGHILHOHQGLH EUHQQHQGHQ%RUGZlQGHDXVHLQDQGHU ª8QGZDVMHW]W"© 'LHJRIUDJWHHVODXWXQGVDKGDEHLLQGLH5XQGH'LHDXVJHPHUJHOWHQJH]HLFKQHWHQ0lQQHUKREHQ GLH6FKXOWHUQ
ªMHW]W ZHUGHQ ZLU GLH 0ROXNNHQ VXFKHQ© VDJWH HLQH GXQNOH 6WLPPH :LU ZDQGWHQ XQV XP .RPPDQGDQW&DUYDOKRVWDQGEUHLWEHLQLJGDXQGPXVWHUWHXQV ,FKHUZLGHUWH ª,KUKDEW0DJKHOODQHV.DUWHQ.RPPDQGDQW"© ª,FKKDEHVLH8QGLFKNHQQHDXFK(XUH5DWVFKOlJH:RILQGHQZLUGLH0ROXNNHQ6HUWRU$WODQ"© ª,FKZHUGHHV(XFK]HLJHQ©VDJWHLFKª8QG,KUVROOWHWGLHVPDOPHKU*ODXEHQKDEHQGHQQVRQVW VXFKW ,KU LQ DOOH (ZLJNHLW QDFK HLQHU 5FNNHKUP|JOLFKNHLW QDFK 6HYLOOD (LQ YLHUWHVPDO KHOIH LFK QLFKW© ,FK KDWWH ]XP 7HLO YHUORUHQ 1XU GLH +lOIWH PHLQHV 3ODQHV JLQJ DXI 0DJKHOODQHV 7RG lQGHUWH QLFKWV,FKDKQWHQLFKWHLQPDOZLHGLHEHLGHQ6FKLIIH]XUFNUHLVHQZROOWHQ,FKJLQJPLW&DUYDOKR ]XUFN]XHLQHUHLQIDFKHQ+WWHDXV3DOP]ZHLJHQ 'RUWEHXJWHQZLUXQVEHUGLH.DUWHQ,FK]HLJWHLKQHQGHQHLQIDFKVWHQ:HJQDFKGHU,QVHOJUXSSH GHU0ROXNNHQ'RUWNRQQWHQVLHWDXVFKHQLKUH/DGHUlXPHIOOHQXQGQDFK:HVWHQVHJHOQ,Q6LFKW GHU.VWHQZUGHQVLHGDQQHYHQWXHOOXP$IULNDV6GNVWHKHUXPZLHGHU6SDQLHQHUUHLFKHQ ,FK EHULFKWHWH EHU 6WHUQVWlQGH LFK VDJWH LKQHQ GLH 3RVLWLRQHQ DQKDQG GHU .RPSDPLZHLVXQJ XQGLFKVFKLOGHUWHGLH,QVHOQGLHVLHWUHIIHQZUGHQ0HKUNRQQWHLFKQLFKWWXQ ª:RKLQVHJHOW,KU$WODQ"©ZXUGHLFKJHIUDJW ,FKKREGLH6FKXOWHUQXQGPHLQWHKDOEODXW ª1DFK:HVWHQ,FKZHUGHJHQDX]ZLVFKHQVGOLFKHP:HQGHNUHLVXQGGHPbTXDWRU]ZLVFKHQGHQ ,QVHOQ XQG GHP ,QVHONRQWLQHQW KLHU KLQGXUFKVHJHOQ ,UJHQGZDQQ ZHUGHQ ZLU YRQ GHU 7(55$ $8675$/,6 ,1&2*1,7$ ZLHGHU LQ 6HYLOOD ODQGHQ ,FK ELQ HLQ EHVVHUHU 6HHIDKUHU DOV 0DJKHOODQHVXQGLFKZHUGHDXFKVHKUYLHOVFKQHOOHUVHJHOQDOV,KU&DUYDOKR© ª,KUVHLGIUHLXQGXQDEKlQJLJDEHUZLUKDEHQGLHVH9RUWHLOHQLFKW7URW]GHPGDQNHLFK(XFKYRQ +HU]HQ6HxRU© ª6FKRQJXW,FKKRIIH,KUVWHXHUWULFKWLJ© ª'DVKRIIHQZLUDXFK© =LVFKHQG VDQNHQ GLH hEHUUHVWH GHU &21&(37,21 LQV :DVVHU XQG JLQJHQ XQWHU 'DV 6FKLII YHUVFKZDQG'LH0DWURVHQDUEHLWHWHQXPGLHDQGHUHQ6FKLIIH]XEHUKROHQXQGVRJXWZLHP|JOLFK DXV]XUVWHQ $EHU HV ZDU QLFKW P|JOLFK PHKU DOV GDV 1RWZHQGLJH ]X WXQ .UlIWH XQG $XVUVWXQJ UHLFKWHQQLFKWZHLW'LHHQGORVHQHUEDUPXQJVORVHQ:VWHQGHV2]HDQVZUGHQGLH6FKLIIHZLHGHU DXIQHKPHQ :LH VDK GDV (QGH DXV" ,FK JLQJ ODQJVDP ]X PHLQHP %RRW ]XUFN XQG YHUVXFKWH JDU QLFKW PHLQH 1LHGHUJHVFKODJHQKHLW ]X XQWHUGUFNHQ :LU YRQ GHU 7(55$ ZUGHQ XQVHUH =LHOH HUUHLFKHQ2EHV&DUYDOKRVFKDIIWHZDU]ZHLIHOKDIW ª:LUJHKHQ]XUFN©VDJWHLFKXQGGHXWHWHDXIGLH7(55$ª:LUVHJHOQZHLWHUQDFK:HVWHQ8QG EDOGZHUGHQZLUDXFKQLFKWPHKUGLH5DWVFKOlJHYRQ0DXNLKDEHQ© 'HU $EVFKLHG YRQ GHQ 0lQQHUQ GHU EHLGHQ VSDQLVFKHQ .DUDYHOOHQ ZDU NXU] 9LHOOHLFKW GDFKWHQ VLHXQVQLHPDOVZLHGHU]XVHKHQ 'DQQUXGHUWHQZLU]XUFN]XU7(55$GLHDXIXQVZDUWHWHXQGNDXPGDZLUDQ%RUGZDUHQGHQ $QNHUOLFKWHWHXQGGDYRQVHJHOWH ª/DQG/DQGYRUDXV© $OV ZLU YRQ GHQ ,QVHOQ XP &HEX NRPPHQG QDFK 6GHQ ]XUFNVHJHOQG GLH .VWH HLQHU ,QVHO QDPHQV0DURWD\VLFKWHWHQNDP0DXNLODQJVDPGHQ$XIJDQJ]XP+HFNNDVWHOOKHUDXIXQGEOLHEYRU PLU VWHKHQ 6HLQ *HVLFKW ZDU HUQVW (U GHXWHWH PLW VHLQHP HLQ]LJHQ $UP DXI GLH GXQNOH ZLH HLQ IODFKHV'UHLHFNJHIRUPWH,QVHOXQGVDJWHOHLVH ª(VLVW=HLWIUPLFK$WODQ© ,FKOlFKHOWHLKQDQXQGQLFNWH ª'XZLOOVW]XUFN]X+lXSWOLQJ$UXDQR1DFK7DIXDIDX*DQ]DOOHLQLQGHLQHPNOHLQHQ.DQX"© (U KLHOW VHLQH .DUWH KRFK LQ FOHQ OHW]WHQ :RFKHQ XQG 0RQDWHQ KDWWH HU YLHOH DQGHUH .DUWHQ KHUJHVWHOOW 6LH ELOGHWHQ LQ HLQHP QXU LKP EHNDQQWHQ 0XVWHU DQHLQDQGHUJHVHW]W HLQH .DUWH GLH ]ZLVFKHQ 7DIXDIDX XQG 0DURWD\ HLQH 9HUELQGXQJ KHUVWHOOWH 'DV 6FKLII ODJ VFKUlJ LP :LQG ZLU NUHX]WHQ]XUFN]XPVGOLFKHQ:HQGHNUHLV+LHUVDKHQZLUYHUJOLFKHQPLWGHQ,QVHOQ3RO\QHVLHQV
DQGHUH.VWHQDQGHUHGXQNOHUKlXWLJH0HQVFKHQ ª*DQ] DOOHLQ ,FK IDQJH )LVFKH PLW GHP 6SHHU RGHU GHP 5DKPHQQHW] ,FK ODQGH XQG WULQNH .RNRVPLOFK,FKWULQNH(LHUDXVIDQJH9|JHOXQG6FKLOGNU|WHQ,FKVFKODIHLP%RRWLP6DQGXQWHU GHQ3DOPHQ8QGLFKULFKWHPLFKQDFKGHP:LQGXQGQDFKGHQ6WU|PXQJHQ,FKKDEH*HGXOGXQG LFKZHUGHHLQHV;DJHV7DIXDIDXHUUHLFKHQ%HLJXWHU*HVXQGKHLW© ª,FKJODXEHGLU©VDJWHLFKª:DQQZLOOVWGXGDV.DQXEHVWHLJHQ"© ª0RUJHQIUKZHQQLKUZHLWHUVHJHOW$WODQ© ª,FKELQHLQYHUVWDQGHQ© 5XQG]HKQWDXVHQG.LORPHWHUKDWWHQZLU]ZLVFKHQXQVXQG7DIXDIDXJHEUDFKW²/XIWOLQLH:HQQ HU XQXQWHUEURFKHQ VHJHOWH RGHU UXGHUWH VLFK WUHLEHQ OLH LFK GDFKWH GLH hEHUOHJXQJ QLFKW ]X (QGH)UGLHVHQZHLKDDULJHQHLQDUPLJHQ0DQQJDOWHQDQGHUH=HLWEHJULIIH 'LH7(55$DQNHUWHYRUGHP8IHUHLQHUXQEHZRKQWHQ,QVHO,FKVFKLFNWHGHQ$OEDWURVDXIHLQHQ (UNXQGXQJVIOXJ DEHU HU IXQNWH GLH JHZRKQWHQ %LOGHU ]XUFN 9LHO :DOG WHLOZHLVH 'VFKXQJHO 4XHOOHQZHQLJH:LOGWLHUHXQGPHUNZUGLJH/DXIY|JHO:LUEUDXFKWHQNHLQH1DKUXQJVPLWWHORGHU )ULVFKZDVVHUXQGYHUEUDFKWHQHLQHUXKLJH1DFKW$PQlFKVWHQ0RUJHQ NXU] QDFK 6RQQHQDXIJDQJ YHUDEVFKLHGHWHQ ZLU XQV EHUDXV KHU]OLFK YRQ 0DXNL :LU OLHHQ GDV .DQX LQV:DVVHUVDKHQ]X ZLH HU VLFKGDULQHLQULFKWHWHXQG ZLQNWHQ VRODQJHZLHZLULKQVHKHQ NRQQWHQ0LW:LQGXQG6WU|PXQJHQWIHUQWHHUVLFKODQJVDPQDFK6GRVWHQ 'LHVHU $EVFKQLWW GHU ODQJHQ 5HLVH ZDU EHHQGHW :LU VWHXHUWHQ LQ VGOLFKHU 5LFKWXQJ 'HU :DOG EHU GHQ 8IHUQ QDKP HLQH GXQNOH GURKHQGH )DUEH DQ (V VFKLHQ DOV RE GLH JOFNOLFKHQ XQEHVFKZHUWHQ7DJH]X(QGHJLQJHQ,FKVWXGLHUWHXQXQWHUEURFKHQPHLQH.DUWHQXQGHLQLJH7DJH VSlWHUWDXFKWH VWHXHUERUGV GLH EXFKWHQUHLFKH .VWHGHU JURHQ ,QVHO DXI GLH IDVW GLUHNW QXU GXUFK HLQH ZLQ]LJH 0HHUHVSDVVDJH JHWUHQQW DQ GHQ ODQJHQ Q|UGOLFKHQ 9RUVSUXQJ GHV ULHVLJHQ ,QVHONRQWLQHQWV GHU ZLHGHUXP QLFKW PHKU ZHLW YRP 6GSRO GHP VDJHQXPZREHQHQ .RQWLQHQW HQWIHUQW ZDU :LU EHIDQGHQ XQV VR]XVDJHQ JHJHQEHU YRQ 6SDQLHQ ² DXI GHU DQGHUHQ 6HLWH GHV *OREXV :LU ZDUIHQ DP Q|UGOLFKHQ 5DQG HLQHV DXVJHGHKQWHQ 6XPSIJHELHWHV $QNHU $XI GHQ IHUQHQ %HUJHQ K|KHU DOV YLHUWDXVHQG 0HWHU VDKHQ ZLU ]X XQVHUHU JUHQ]HQORVHQ 9HUZXQGHUXQJ JHZDOWLJH ,QODQGVJOHWVFKHU
1(8*8,1($VRVROOWHPDQGLHVHULHVLJHXQGK|FKVWORXQGHUVDPH,QVHOVSlWHUHLQPDOQHQQHQ HUZLHV VLFK DOV HLQHV GHU OHW]WHQ ORFNHQGHQ 5HLVH]LHOH :LU PXWHQ ODQJVDP GDUDQ GHQNHQ GHQ %HUHLFK GHU VFKW]HQGHQ XQG VLFKHUHQ ,QVHOQ ]X YHUODVVHQ XQG XQV IU OlQJHUH 5HLVHVWUHFNHQ ]X YHUSURYLDQWLHUHQ 6FKRQ QDFK HLQLJHQ .LORPHWHUQ )OXJ VDK LFK DXI GHQ %LOGHUQ GHV 9RJHOV GLH 5XQGG|UIHUPLWLKUHQVSLW]NHJHOLJHQ'lFKHUQWHLOZHLVHDXI3IlKOHQHUEDXW7RWHPSIlKOHXQG1HW]H :DIIHQ XQG 7HXHU VW HLOHQ 7DQ]SOlW]H XQG DEJHJUHQ]WH %H]LUNH LQ GHQHQ YHUZLOGHUWH 6FKZHLQH JHKDOWHQ ZXUGHQ NRQQWHQ ZLU HUNHQQHQ *HUlXFKHUWHV 6FOLZHLQHIOHLVFK ² GDV NRQQWHQ ZLU JXW EUDXFKHQ:LUHQWVFKORVVHQXQVHLQHQ9RUVWRLQV/DQGHVLQQHUH]XPDFKHQ'DVZDULP6HSWHPEHU )QI]HKQ 0DWURVHQ $JVDFKD 6KDUPD XQG LFK UVWHWHQ HLQ %RRW DXV XQG ZLHGHU EHVFKOLFK PLFKGDV 9RUDKQHQ HLQHU XQGHXWOLFKHQ *HIDKU:LU YHUEDUJHQGDV %RRWVRUJIlOWLJQLFNWHQXQV ]X XQGJLQJHQJHUDGHZHJVDXIGHQVFKPDOHQ3IDG]X
ª0HODQHVLHQ 6FKZDU]LQVHOZHOW© PXUPHOWH LFK DOV ZLU KLQWHUHLQDQGHU GHQ 3IDG EHWUDWHQ )QI 0HWHU YRU PLU VFKOLFK 6FDUURQ PLW QDVVHP )HOO XQG DXIJHVFKDEWHQ *HOHQNHQ ]ZLVFKHQ GHQ WULHIHQGHQ3IODQ]HQHLQKHU
ª:LUKDEHQKLHUQXUGXQNHOKlXWLJHNOHLQH0HQVFKHQJHWURIIHQ©HUZLGHUWH$JVDFKDGHU]ZLVFKHQ PLUXQG6KDUPDJLQJ:LUKDWWHQGLHHQWVLFKHUWHQ:DIIHQLQGHQ+lQGHQ GLH6FKDOWXQJVWDQGDXI GHP3DWURQHQODXI8QUXKLJPXUPHOWHQGLH0DWURVHQPLW+DXPHVVHUQ(QWHUPHVVHUQXQGSOXPSHQ 0XVNHWHQEHZDIIQHW ª'DKHU GLHVHU 1DPH© VDJWH LFK ª+RIIHQWOLFK EHJUHLIHQ VLH GD ZLU DOV )UHXQGH XQG +DQGHOVSDUWQHUNRPPHQ© hEHUDOO KLHU KHUUVFKWH HLQ WURSLVFKHV .OLPD :LU NDPHQ DQ HLQHU 0HQJH UXQGHU 6DO]SIDQQHQ YRUEHL LQ GHQHQ 0HHUZDVVHU YHUGXQVWHWH XQG 6DO]NULVWDOOH GDV HLQ]LJH ULFKWLJH *HZU] GLHVHU (UGJHJHQG]XUFNOLH0LWGHQ*HZU]HQGLHGDV$EHQGODQGXQGDXFKGLH6FKLIIHGHU+lQGOHUGHV |VWOLFKHQ .RQWLQHQWHQUDQGHV VXFKWHQ NRQQWHQ GLH (LQJHERUHQHQ QLFKW YLHO DQIDQJHQ 8QVHUH /DJHUUlXPH ZDUHQ ]XP 7HLO VFKRQ ZRKOJHIOOW PLW 1HONHQ =LPW XQG ,QJZHU 6XPSI7DUR XQG %DPEXVZXFKVKLHULQJURHU0HQJH ª:DQQNRPPWGDV'RUI.lSWHQ"©ULHIMHPDQGYRQJDQ]KLQWHQ ª1RFKHLQH6WXQGH©JDELFK]XUFN :LUVFKZLW]WHQXQG0\ULDGHQYRQ,QVHNWHQVWU]WHQVLFKDXIXQV(LQ.XULHLQWRWDOYHUZLOGHUWHU +XQG VDK 6FDUURQ XQG VWRE MDXOHQG XQG PLW HLQJH]RJHQHP 6FKZDQ] GDYRQ :LU KLHOWHQ XQWHU HLQHP %URWIUXFKWEDXP DQ (LQH 5LHVHQVFKODQJH VDK XQV XQG OLH LKUHQ .|USHU EDXPHOQ VLH ZDU XQHQWVFKORVVHQREZLU%HXWHGDUVWHOOWHQRGHUHLQ]XJURHU*HJQHUZlUHQ6FKOLHOLFKULQJHOWHVLH VLFK XP HLQHQ PDQQVGLFNHQ $VW XQG YHUVFKZDQG UDVFKHOQG ]ZLVFKHQ GHQ %OlWWHUQ )U PHLQH 0DWURVHQZDUHQGLHV:XQGHUXQG*HIDKUHQ VLHHUVFKUDNHQ EHLMHGHPGULWWHQ6FKULWWYRUHLQHUKDUPORVHQ1DWXUHUVFKHLQXQJ ª6HOEVW KLHU JLEW HV5DWWHQ© VDJWH$JVDFKD DQJHZLGHUW KRE HLQHQ 6WHLQ DXI XQG VFKOHXGHUWH LKQ GHP 7LHU QDFK GDV TXLHNHQG YHUVFKZDQG 9HUJOLFKHQ PLW GHP VDXEHUHQ QLHLVW EHUVLFKWOLFKHQ 6WUDQGGHUSRO\QHVLVFKHQ,QVHOQZDUKLHUGHUUHLQVWH'VFKXQJHO ª1DFKHLQHPNOHLQHQ6FKOXFN5XPJHKHQZLUZHLWHU©HQWVFKLHGLFK 3DUDGLHVY|JHO KXVFKWHQ YRU XQV KHU ,QVHNWHQ WDXFKWHQ DXI OHXFKWHWHQ LQ GHQ ZHQLJHQ 6RQQHQVWUDKOHQXQGVFKRVVHQUXFNDUWLJGDYRQ$OVZLUZHLWHUJLQJHQZXUGHGLH8PJHEXQJGXQNOHU 'LH 3IODQ]HQ ELOGHWHQ ]ZHL XQGXUFKGULQJOLFKH 0DXHUQ DXI EHLGHQ 6HLWHQ GHV :HJHV :LHGHUXP HLQLJH 0LQXWHQ VSlWHU VFKOR VLFK DXFK GHU 5DXP EHU XQVHUHQ .|SIHQ /LDQHQ KLQJHQ KHUDE XQG ZHKHQGH 9RUKlQJH DXV 3IODQ]HQ PLW ZLQ]LJHQ JUQHQ XQG EUDXULJHVSUHQNHOWHQ %OlWWHUQ :LU NlPSIWHQXQV6FKULWWXP6FKULWWYRUZlUWV ª+DOW©VDJWHLFKQDFKHLQHU:HLWHXQGGHXWHWHQDFKOLQNV ª:DVVLHKVWGX"©IUDJWH6KDUPD 6FDUURQV 6HKOLQVHQ YHUIROJWHQ GHQ VFKQHOOHQ /DXI GHU GUHL 9|JHO GLH EHU HLQH NOHLQH /LFKWXQJ UDQQWHQ=ZLVFKHQJUQXPZXQGHQHQ%DXPVWlPPHQJDEHVHLQH/LFKWXQJPLWKRKHP%DPEXVJUDV 'RUW VDKHQ ZLU GUHL .DVXDUH GLH IOXJXQIlKLJHQ 9|JHO 6LH VFKLHQHQ HQWZHGHU VHKU VFKHX ]X VHLQ RGHUXQDXVJHVHW]WJHMDJW]XZHUGHQGHQQVLHUDVWHQLQZLOGHU)OXFKWGDYRQ ª(VVLQG9|JHOGLHQLFKWIOLHJHQN|QQHQ©VDJWH$JVDFKDOHLVHª6FKLHHQZLUHLQHQ"© ª(UZLUGXQJHQLHEDURGHU]lKVHLQODHV©JDELFK]XUFN 'LH .DVXDUH UDQQWHQ GDYRQ GXFNWHQ LKUH .|SIH XQG YHUVFKZDQGHQ XQWHU KHUXQWHUKlQJHQGHQ /LDQHQ:LUVWROSHUWHQZHLWHUXQGJOLWWHQLP6FKODPPGHV3IDGHVDXV8QVHUH6WLHIHOVWDUUWHQELV]X GHQ.QLHQYRU'UHFN1LHPDQG]HLJWHVLFKDEHUZLUDOOHKDWWHQGDV*HIKODOVREXQV$XJHQDXV GHP'LNNLFKWKHUDXVEHREDFKWHWHQ+LQXQGZLHGHUHUW|QWHQJHKHLPQLVYROOH6FKUHLH:LUNRQQWHQ QLFKWV HUNHQQHQ ELV ZLU DP (QGH HLQHV NOHLQHQ 7DOHV DXV GHP 'VFKXQJHO DXI HLQH EHUUDVFKHQG ZHLHVDXEHUH.LHVIOlFKHKLQDXVWUDWHQ ª'DV'RUI©VDJWH$JVDFKDXQGEHZHJWHVLFKXQUXKLJ (VVFKLHQDXVJHVWRUEHQ]XVHLQ:HQQGLH%HZRKQHUVLFK YHUVWHFNWKDWWHQRGHUJHIORKHQZDUHQGDQQYRUJDQ]NXU]HU=HLWGHQQLQGHU0LWWH]ZLVFKHQGHQ 3IDKOEDXKlXVHUQEUDQQWHQRFKHLQ)HXHUPLWHLQHUVHQNUHFKWHQIDGHQGQQHQ5DXFKVlXOH:LUWUDWHQ ODQJVDP DXV GHU VWLQNHQGHQ WULHIHQGHQ 1lVVH GHV 'VFKXQJHOV KHUDXV LQ GDV 6RQQHQOLFKW XQG GLH :lUPH9RPDQGHUHQ(QGHGHV7DOHVGDVVLFKLQGHU0LWWH]XHLQHUUXQGHQ(EHQHDXVZHLWHWHNDP
HLQNKOHU/XIWKDXFK ª=lKOHLFKGLH+WWHQ]XVDPPHQGDQQLVWGHU6WDPPVHKU]DKOUHLFK©PHLQWHLFKOHLVHª:RVLH VLFKYHUVWHFNWKDEHQ":LUZDUHQQLFKWJHUDGHOHLVHDEHUGDUDXVVROOWHQVLHHUNDQQWKDEHQGDZLU XQVRIIHQXQGRKQH)HLQGVFKDIWQlKHUQ© =|JHUQG EHWUDWHQZLU GHQ 'RUISODW]$OOH0HQVFKHQ GLH ZLUELVKHUJHWURIIHQKDWWHQ ZDUHQ RKQH GLH.HQQWQLVGHU6FKULIWJHZHVHQ$XFKKLHUZUGHHVVRVHLQ6LHNDQQWHQ]ZDUGXUFKPQGOLFKH hEHUOLHIHUXQJ LKUH *HVFKLFKWH QDFK GHU YRU UXQG IQI -DKUKXQGHUWHQ GLH ,QVHOQ EHVLHGHOW ZRUGHQ VHLQ VROOWHQ DEHU VLH NDQQWHQ NHLQH DQGHUHQ =HXJQLVVH DOV JHZLVVH ULWXHOOH :DIIHQ GLH YHUHUEW ZXUGHQGLHIHLQHQ6FKQLW]HUHLHQDQGHQ+DXVHLQJlQJHQGLH$KQHQNXOWHXQGlKQOLFKH7UDGLWLRQHQ 'LHVHV 6WDPPHVGRUI EHVD RIIHQVLFKWOLFK PHKUHUH 7RWHPV ZLH GLH ULHVLJH ZHLJHVWULFKHQH 6lXOH EHZLHV(KHQXQWHU$QJHK|ULJHQGHVJOHLFKHQ7RWHPVZDUHQDOV%OXWVYHUZDQGWVFKDIWHQXQP|JOLFK XQG KDQGHOWH MHPDQG GDJHJHQ ZXUGH HU EHVWUDIW PHLVW PLW GHP 7RG 'LH 7RWHP]XJHK|ULJNHLWHQ YHUHUEWHQVLFK'LHVH(LQ]HOKHLWHQXQGYLHOHDQGHUHKDWWHLFKYRQYLHOHQ+lXSWOLQJHQHUIDKUHQ ª:LUZDUWHQ"©IUDJWH$JVDFKD ª:LUZDUWHQKLHUIUMHGHQVLFKWEDU©HQWVFKLHGLFK 8PGDV)HXHUODJHQ0HQJHQYRQ6NDUWRIIHOQ6DJRSDOPHQZLHJWHQVLFK]ZLVFKHQGHQ+WWHQ 'LH GLFNHQ UXQGHQ 'lFKHU ZDUHQ YRQ 9RJHONRW EHVFKPXW]W $XV GHP *HKHJH KLQWHU GHQ +WWHQ NDPHQ GLH JUXQ]HQGHQ XQG TXLHNHQGHQ /DXWH YRQ ]DKPHQ RGHU KDOEZLOGHQ 6FKZHLQHQ 1HW]H ZDUHQ ]XP 7URFNQHQ DXIJHVSDQQW 1RFK LPPHU]HLJWHVLFKQLHPDQG (LQHU PHLQHU 0lQQHU ZROOWH VLFKGHP7RWHPSIDKOQlKHUQXQGLFKULHIODXW ª=XUFN1LFKWVDQUKUHQ,KUZLWZLHKHLOLJGLH7RWHPVVLQG:LUZDUWHQELVGLH%HZRKQHUVLFK ]HLJHQ© (LQLJH0lQQHUVHW]WHQVLFKDXIGHQ%RGHQ:LUVWDQGHQXQGVDHQLQHLQHUNOHLQHQ*UXSSHXPKHU 'LH$XJHQJLQJHQ VXFKHQG XPKHU ZLU NRQQWHQ QLFKW EHUUDVFKW ZHUGHQ ZHLO VLFK QLHPDQG LQ XQVHUHQ 5FNHQ VFKOHLFKHQ NRQQWH ,FK VDK DXI GLH 8KU =HKQ 0LQXWHQ YHUJLQJHQ 1XU GLH *HUlXVFKH GHV 'VFKXQJHOV XQG GHU 7RQ IDOOHQGHQ XQG VFKQHOO IOLHHQGHQ :DVVHUV (LQH DQJHVSDQQWH 6WLPPXQJ HUIOOWH XQV 3IHLOH NRQQWHQ SO|W]OLFK KHUDQ]LVFKHQ 0XVFKHOEHLOH NRQQWHQ JHVFKOHXGHUW ZHUGHQ 3O|W]OLFKVWLHPLFK6KDUPDDQGLHVLFKHEHQVRXQEHKDJOLFKIKOWH ª'RUWGUEHQ$WODQ© ,FK IROJWH PLW GHQ $XJHQ LKUHP DXVJHVWUHFNWHQ $UP 'DQQ QLFNWH LFK LKU ]X VFKDOWHWH PHLQ $EZHKUIHOG HLQ XQG JLQJ ODQJVDP EHLGH $UPH ELV LQ 6FKXOWHUK|KH HUKREHQ XQG GLH +DQGIOlFKHQ QDFK DXHQ JHNHKUW DXI GDV HWZD IQIMlKULJH .LQG ]X GDV VLFK DQVFKHLQHQG ORVJHULVVHQ KDWWH XQG PLW JURHQ$XJHQ XQGNUXPPHQ %HLQHQ PLWWHQ DXIGDV)HXHU]XOLHI $OVPLFK GHU QDFNWH EUDXQH -XQJHVDKEOLHEHUVWHKHQXQGVWDUUWHPLFKDQ'DQQODFKWHHUODXWDXI,FKJLQJLQGLH.QLHVWUHFNWH HLQHQ$UPDXVXQGGHU.OHLQHOHJWHVHLQH+DQGLQPHLQH'DQQODFKWHHUHLQ]ZHLWHVPDOJULIIQDFK PHLQHP EOLW]HQGHQ $PXOHWW GHP $NWLYDWRU XQG EHJDQQ GDPLW ]X VSLHOHQ 'DV EUDFK GHQ %DQQ 3O|W]OLFKZDUHQEHUDOO0HQVFKHQ6LHZDUHQSULPLWLYDEHUVFKZHUEHZDIIQHW (LQ NOHLQHU VFKODQNHU 0DQQ PLW HLQHP GQQHQ IDVW QXU DXV 0XVNHOQ EHVWHKHQGHQ .|USHU XQG HLQHPYHU]LHUWHQ6WFN%DPEXVURKULP2KUOlSSFKHQNDPDXIPLFK]X)DVWVHLQJDQ]HU.|USHUZDU YRQ 1DUEHQ EHGHFNW ,FK OLH GHQ .OHLQHQ ]X %RGHQ JOHLWHQ VWDQG DXI XQG KRE ZLHGHU GLH UHFKWH +DQG ,FKGHXWHWHDXIPLFKXQGVDJWHODXW ª$WODQ© (U QLFNWH GHXWHWH DXI GLH +lXVHU XQG GLH DQGHUHQ 0lQQHU XQG )UDXHQ GLH QXQ ]ZLVFKHQ GHQ %VFKHQ DXIWDXFKWHQ VLFK DXV GHQ GXQNOHQ (LQJlQJHQ GHU +WWHQ GUlQJWHQ XQG DXV YLHOHQ 9HUVWHFNHQ NDPHQ ,FK ]lKOWH PHKU DOV ]ZHLKXQGHUWIQI]LJ YLHOPHKU LFK VFKlW]WH GLHVH =DKO 'DQQVDJWHGHU0DQQLQHLQHUNHKOLJHQ6SUDFKH ª$UHND$UHND© (U EHWUDFKWHWH PLFK LQWHQVLY XQG VFKZHLJHQG VR ZLH LFK LKQ :LU PXVWHUWHQ XQV ODQJH XQG VFKZHLJHQG GDQQ HUNDQQWH DXFK ZRKO HU GD LFK HLQ 0HQVFK ZLH HU ZDU QXU JU|HU YRQ HLQHU
DQGHUHQ+DXWXQG+DDUIDUEHXQGPLW$XJHQGLHHUQLFKWJH QDX GHILQLHUHQ NRQQWH 5|WOLFKH $XJlSIHO VWDWW ZHLHU 8QG VLFKWOLFK LQWHUHVVLHUWH LKQ XQVHUH .OHLGXQJ 6FKOLHOLFK GHXWHWH HU DXI GLH ODQJOlXILJH :DIIH LQ PHLQHP *UWHO XQG LFK ]RJ VLH KHUDXV (U EHGHXWHWH PLU GD GLHV HLQ 6FKlGHOEUHFKHU VHLQ NRQQWH XQG LFK PDFKWH GLH *HVWH GHV )LQJHULQGLH2KUHQ6WHNNHQV (U EHJULII ,FK ]LHOWH DXI HLQHQ 9RJHO GHU EHU GDV NUHLVI|UPLJH 6WFN+LPPHOIORJ'DV5RKUJLQJPLWXQGDOVGDV7LHULQGHU0LWWHGHUEODXHQ)OlFKHZDUGUFNWH LFKDE'HU.QDOOGRQQHUWHEHUGLH/LFKWXQJ(LQJHZDOWLJHV*HVFKUHLHUKREVLFKDOVGHUEODXURWH 9RJHO PLWWHQ LP )OXJ ]XVDPPHQ]XFNWH ZLOG PLW GHQ 6FKZLQJHQ VFKOXJ XQG GDQQ VHQNUHFKW ]X %RGHQILHOGLFKWQHEHQGDV)HXHU $UHNDXQGLFKODFKWHQXQVDQGDQQVFKRELFKGLH:DIIHZLHGHU]XUFN,FKYHUVXFKWHQHEHQLKP JHKHQG LKP NODU]XPDFKHQ GD ZLU HLQLJH 6FKZHLQH DENDXIHQ RGHU WDXVFKHQ ZROOWHQ :LU KDWWHQ 6SLHJHO0HVVHUXQGb[WHPLWJHEUDFKW(LQLJH0DWURVHQGHPRQVWULHUWHQGHUHQ$QZHQGXQJ (V JDE HLQH 0HQJH *HVFKUHL XQG 6FKUHFNHQ ZHQQ VLFK GLH (LQJHERUHQHQ SO|W]OLFK HUNDQQWHQ ZHQQ VLH LKUH *HVLFKWHU VFKDUI XQG GLUHNW YRU GHQ $XJHQ VDKHQ (UVWDXQOLFK VFKQHOO EHJULIIHQ VLH ZR]X0HVVHU]XJHEUDXFKHQZDUHQXQGGLH%HLOH .RPSOL]LHUWH3DQWRPLPHQZXUGHQDXIJHIKUWGDQQVFKLOGHUWH$UHNDGDZLUKLHUEOHLEHQVROOWHQ 8QG HU ZROOWH DOOH GLH %HLOH XQG 0HVVHU KDEHQ (U ZROOWH XQV GDIU 6FKZHLQH JHEHQ DEHU QLFKW YLHOHGHQQVLHZlUHQ7LHUHIUGLHULWXHOOHQ2SIHU$EHUHUZUGHVHLQHQ6WDPPPLW6WHOOQHW]HQXQG 6SHHUHQDXVVFKLFNHQXPZLOGH6FKZHLQH]XIDQJHQ6RODQJHVROOWHQZLUKLHUEOHLEHQ ª:R"©ZROOWHLFKZLVVHQXQGYROOIKUWHHQWVSUHFKHQGH*HVWHQ 9RUVLFKW'XZHLWQLFKWREHV$UHNDHKUOLFKPHLQWPHOGHWHVLFKGHU([WUDVLQQ ª(LQLJH)DPLOLHQKWWHQVLQGIUHL©YHUVWDQGLFKVFKOLHOLFK 'LH 6SUDFKH ZDU HLQIDFK DEHU HV ZUGH HLQH :HLOH GDXHUQ ELV LFK VLH JHQJHQG JXW VSUDFK .RQQWHQZLUULVNLHUHQLQGLHVHP'RUI]XEOHLEHQGHVVHQ=XJDQJVZHJHGHUDUWYHUVWHFNWZDUHQXP )HLQGHQ NHLQHQ +LQZHLV ]X JHEHQ ,FK JLQJ HLQH :HLOH XPKHU XQG HQWGHFNWH LQ HLQHU SUlFKWLJHQ JURHQ +WWH HLQH ULHVLJH 6DPPOXQJYRQ 7RWHQVFKlGHOQ $P 5DQG GHV 'VFKXQJHOV WULHEHQ HLQLJH MQJHUH/HXWH]ZHL*UHLVHXQGHLQH*UHLVLQPLW6WRFNVFKOlJHQGDYRQXQGVFKULHQGDEHL ª$KQHQNXOW"©IUDJWHLFKPLFKODXW:LUKDWWHQHLQH/DQGVFKDIWGHU6WHLQ]HLWEHWUHWHQ :LU KDWWHQ ]ZHL 0|JOLFKNHLWHQ HQWZHGHU EOLHEHQ ZLU QXU NXU] XQG VFKOHSSWHQ GLH 6FKZHLQH ]XUFN ]XP 6FKLII RGHU LFK YHUVXFKWH PHLQH 1HXJLHUGH ]X EHIULHGLJHQ XQG VHW]WH PHLQH 0DQQVFKDIW6KDUPDXQGPLFKHLQHUXQEHNDQQWHQ*HIDKUDXV'DQQGDFKWHLFKDQXQVHUHJHWDUQWHQ :DIIHQ DQ GHQ $OEDWURV XQG 6FDUURQ DQ GHQ 6FKXW]VFKLUP GHQ LFK HLQVFKDOWHQ NRQQWH ² XQG HQWVFKORPLFKVFKQHOO ª:LUEOHLEHQ]ZHL7DJH©HQWVFKLHGLFKª.RPPWDOOH]XPLUKHU/HXWH© :LUHUNOlUWHQGHP+lXSWOLQJGHVVHQ.|USHUEHUXQGEHUPLW/LQLHQXQG6FKODQJHQPXVWHUQYRQ 6FKPXFNQDUEHQEHGHFNWZDUGDZLUVHLQH(LQODGXQJDQQHKPHQXQG]ZHLPDOEHUQDFKWHQZUGHQ (U P|JH XQV HLQH +WWH ]HLJHQ (U YHUVWDQG VFKOLHOLFK XQG ZLQNWH XQV :LU IROJWHQ LKP $P |VWOLFKHQ(QGHGHV'RUIHV]HLJWHHUXQVHLQHJURH+WWHPLWUHLFKJHVFKQLW]WHP(LQJDQJ6LHVWDQG DXIGLFNHQ3IlKOHQXQGHLQH6WHLJOHLWHUIKUWHDXIGLH:RKQSODWWIRUPKLQDXI:LUEHGDQNWHQXQV ª=XHUVW GLH -DJG© ZXUGH XQV HUNOlUW ª'DQQ HLQ )HVW IU XQV DOOH PLW 7DQ] XQG 7DEDN 'DQQ HLQLJHNXOWLVFKH+DQGOXQJHQ'DQQ%HJOHLWXQJ]XUFN]XP*URHQ.DQX© (VNODQJJDQ]]XIULHGHQVWHOOHQG ,FK VFKLFNWH 6FDUURQ YRU (U NOHWWHUWH KRFK UDVWH VFKQIIHOQG GXUFK GDV +DXV XQG IDXFKWH VFKOLHOLFKVHLQHQ.RGHODXW'DV+DXVZDUIUHLRKQH)DOOHQ+RFKEHUXQV]RJGHU$OEDWURVVHLQH .UHLVH 'LH 0DWURVHQ XQG 6KDUPD JLQJHQ LQV +DXV XP VLFK HWZDV DXV]XUXKHQ $JVDFKD XQG LFK ZDQGHUWHQ ODQJVDP GXUFK GDV 'RUI XQG VDKHQ XQV XP (LQH 5HLKH EL]DUUHU XQG XQJHZ|KQOLFKHU %LOGHU]RJDQXQVYRUEHL)UDXHQZHQLJHUWlWRZLHUWDOVGLHPHLVWHQ0lQQHUUDXFKWHQ7DEDNEOlWWHU DXV %DPEXVDEVFKQLWWHQ XQG JULQVWHQ XQV VFKHX DQ :LU VDKHQ GD EHL YLHOHQ YRQ LKQHQ )LQJHUJOLHGHU IHKOWHQ VLH VFKLHQHQ DEJHKDFNW RGHU DEJHVFKQLWWHQ ZRUGHQ ]X VHLQ ,FK XQWHUKLHOW PLFK VWRFNHQG XQG ODQJVDP XQG OHUQWH VFKQHOO ² VFKOLHOLFK NRQQWH PDQ XQV EHJUHLIEDU PDFKHQ GDEHLP7RGHLQHV9HUZDQGWHQMHZHLOVHLQ)LQJHUJOLHGDEJHKDFNWZXUGH
ª'DV LVW ZLUNOLFK HLQ GXQNOHU IU XQV VHKU E|VHU 2UW© VDJWH $JVDFKD ]|JHUQG 6HLQ *HVLFKW GUFNWH$EZHKUXQG0LWUDXHQDXVª:LUVROOWHQJHKHQVRVFKQHOOZLHP|JOLFK© ª:LUZUGHQVLHGDGXUFKEHOHLGLJHQXQGLKUHQ=RUQKHUYRUUXIHQ©ZDQGWHLFKHLQ ª'XKDVWUHFKW(VNDQQHLQH)DOOHVHLQ$WODQ:LUZHUGHQDXISDVVHQPVVHQ© ª5LFKWLJ© $UHND VDPPHOWHVHLQH 0lQQHU 6FKOLHOLFK NDP HU HWZD GUHLLJ YHUZHJHQ DXVVHKHQGH-lJHU PLW %|JHQXQGXQEHILHGHUWHQ3IHLOHQKLQWHUVLFKDXIXQV]X(UEHGHXWHWHXQV]XZDUWHQELVVLHKHXWH DEHQG YRU 6RQQHQXQWHUJDQJ ]XUFNNlPHQ ]HKQ 6FKZHLQH ZROOWH HU IDQJHQ :LU VDKHQ GHU .DUDZDQHQDFKELVVLHLPXQZHJVDPHQ'VFKXQJHOYHUVFKZXQGHQZDU6LHJLQJHQLQGLH5LFKWXQJ GHU YHUERUJHQHQ HLQH 6WXQGH :HJHQWIHUQWHQ)HOGHU]XGHQHQHEHQIDOOV YHUVWHFNWH:HJH IKUWHQ ,FKNDQQWHGLH/XIWDXIQDKPHQ ª(LQLJH.ULHJHUZHQLJHU²GLH*HIDKUJHULQJHU©VDJWH$JVDFKD]XIULHGHQ :LU JLQJHQ ZHLWHU 'LH $XIUHJXQJ VFKLHQ VLFK VFKQHOO JHOHJW ]X KDEHQ GHQQ DXHU YLHOHQ YHUVWRKOHQHQ6HLWHQEOLFNHQZXUGHQZLUQLFKWVRQGHUOLFKDQJHVWDXQW'DV/HEHQGHV'RUIHVZXUGHDQ GHP 3XQNW ZLHGHU IRUWJHVHW]W DQ GHP ZLU HV GXUFK XQVHU (UVFKHLQHQ XQWHUEURFKHQ KDWWHQ 7URW] DOOHP HV KHUUVFKWH HLQH QLHGHUGUFNHQGH $WPRVSKlUH GLH NRPPHQGHV 8QKHLO ]X VLJQDOLVLHUHQ VFKLHQ :LU IDQGHQ KHUDXV GD HV YHUVFKLHGHQH $UWHQ YRQ +lXVHUQ JDE YRQ GHQHQ DEJHVHKHQ LQ GHUHQ GXQNOHQ 5lXPHQ GXUFK %DVWIlFKHU DEJHWUHQQW GLH *URIDPLOLHQ OHEWHQ (LQ +DXV IU GLH XQYHUKHLUDWHWHQ0lQQHUHLQHVIUGLHYHUDFKWHWHQXQGXQHUZQVFKWHQ*UHLVHIUGLH$KQHQVFKlGHO GLHDXIEXQWEHPDOWHQ%UHWWHUQVWDQGHQHEHQIDOOVPLW/LQLHQPXVWHUQXQG%ODWWRUQDPHQWHQYHU]LHUW XQG K|IOLFK OlFKHOQG ² VR ZLUNWHQ VLH 'LH JDQ]H :HOW GLHVHU 0HQVFKHQ ZDU ZLH ZLU HUIXKUHQ YRP *ODXEHQ DQ GLH QHLGLVFKHQ $KQHQVHHOHQ HUIOOW XQG ]XGHP YRQ HLQHU *|WWHUZHOW GLH UHLQHU $QLPLVPXVZDU MHGHV'LQJGHU8PZHOWZDUSHUVRQLIL]LHUWPLWHLQHU*RWWKHLW(VJDEVRJDUULWXHOOHV *HVFKLUU XQG *DEHOQ IU GLH )HLQGH GLH PDQ YHU]HKUWH %OXWUDFKH XQG .DQQLEDOLVPXV ZDUHQ KLHU VR]XVDJHQWlJOLFKH9RUNRPPQLVVH6FKOLHOLFKKDWWHQZLUXQVHUHQ5XQG JDQJEHHQGHWXQGLFKEHJDQQGLHJHOHUQWHQ:|UWHUGDQNPHLQHVJHQDXHQ(ULQQHUXQJVYHUP|JHQV LQ HLQ 6\VWHP HLQ]XEDXHQ ² KHXWH QDFKW ZUGHQ ZLU XQV ]ZDU EHVVHU XQWHUKDOWHQ N|QQHQ DEHU YHUPXWOLFKVFKOHFKWVFKODIHQ,FKNOHWWHUWHLQV+DXVKLQHLQ$JVDFKDVHW]WHVLFKPLWGHU:DIIHEHU GHQ.QLHQQHEHQGHQ(LQJDQJ ª:DVKDVWGXHUIDKUHQ$WODQ"©IUDJWH6KDUPD ª9LHOHV©VDJWHLFKª:LUVLQGLQHLQHPDQGHUHQ/DQGDOVJHZRKQW+LHUJLEWHVNDXPbKQOLFKNHLW PLWGHQKHOOKlXWLJHQ0HQVFKHQGHUSRO\QHVLVFKHQ,QVHOQ© 'DV0lGFKHQVDJWH ª6LHPVVHQVRJDUGLH)UDXHQNDXIHQ-XQJH0lQQHUDUEHLWHQODQJHXPVLFKHLQH)UDXOHLVWHQ]X N|QQHQ6LHYHUZHQGHQ0XVFKHOJHOG© ª'DV LVW DXFK LQ 6SDQLHQ EOLFK© PXUPHOWH MHPDQG DXV GHU %HVDW]XQJ 'DV ,QQHUH GHV +DXVHV ]HXJWH YRQ HLQHU ODQJHQ .XOWXU GLH VLFK DXI ZHQLJH 0DWHULDOLHQ EHVFKUlQNWH VLH DEHU PLW JU|WHU 'HOLNDWHVVHEHDUEHLWHWH,FKOHJWHPHLQHQ.RSIDXIHLQHIHLQJHVFKQLW]WH%DQNVWUHFNWHPLFKDXIGHU JHIORFKWHQHQ 0DWWH DXV XQG VDK GLH 0RVNLWRVlFNH DQ GLH VlXEHUOLFK ]XVDPPHQJHUROOW ZDUHQ (V JDEVRJDUHLQH)HXHUVWHOOHDXV/HKPLQ]ZLVFKHQ]X7RQJHEUDQQW ª:DVWXQZLU"© ª*DQ]HLQIDFK©DQWZRUWHWHLFKª:LUZDUWHQDXIGLH6FKZHLQHXQGGDV%UDWHQIHVW© 0LFK HUIOOWHQ YLHOH ]XP 7HLO XQYHUHLQEDU KHIWLJH *HGDQNHQ +DQGHO XQG 7DXVFK ZDUHQ JXWH 0|JOLFKNHLWHQ DOOH ELVKHU XQEHNDQQWHQ *HELHWH GLHVHV 3ODQHWHQ ]X EHVXFKHQ 'XUFK +DQGHO NRQQWHQVLFKGLH0HQVFKHQWUHIIHQNRQQWHQGLHZLFKWLJVWHQ(UJHEQLVVHYRQ=LYLOLVDWLRQXQG.XOWXU DXVWDXVFKHQ 1RFK LPPHU VWDQG DP (QGH PHLQHU YLHOHQ %HPKXQJHQ GHU :XQVFK HQWZHGHU HLQ JHODQGHWHV6FKLII]XILQGHQRGHU]XZDUWHQELVGLH%HZRKQHUYRQ/DUVDI,,HLQ5DXPVFKLIIEDXHQ NRQQWHQ GDV PLFK ]XUFN QDFK $5.21 EUDFKWH ,Q YLHOHQ (LQVlW]HQ KDWWH LFK PHLQ P|JOLFKVWHV JHWDQ XP ZLFKWLJH .XOWXUDQVW|H ]X JHEHQ 9LHO KDWWH LFK HUUHLFKW DEHU QRFK YLHO PHKU ZDU YHUORUHQJHJDQJHQ %LV ]XP 6WDUW GLHVHV 5DXPVFKLIIHV ZUGH LFK QRFK ODQJH ZDUWHQ PVVHQ 'HU
%HZHLV +LHU DXI GLHVHQ ,QVHOQ KHUUVFKWH HLQH VWHLQ]HLWOLFKH .XOWXU ZlKUHQG 0lQQHU ZLH .RSHUQLNXVVLFKEHUHLWVXPNRVPLVFKH(UNHQQW QLVVH EHPKWHQ :lKUHQG PDQ LQ GHQ /lQGHUQ ]ZLVFKHQ 1RUGSRO XQG *URHU :VWH QRFK 0HQVFKHQ YHUNDXIWH XQG NDXIWH D PDQ KLHU 0HQVFKHQ 6HHIDKUHU ZHLJHUWHQ VLFK QDFK 5DXPDXIQDKPHQ LKUHQ .XUV ]X VWHXHUQ XQG VWDUEHQ EHL GHU hEHUZLQGXQJ ULHVLJHU (QWIHUQXQJHQ 8QG ZLU :HOWXPVHJOHU GLH QLFKWV DQGHUHV EUDXFKWHQ DOV HWZDV )OHLVFK EHJDEHQ XQV LQ /HEHQVJHIDKU ² RGHU ZHQLJVWHQV VDK HV MHW]W VR DXV $EHU ZLU DOOH PLFK HLQJHVFKORVVHQ KDWWHQ XQVHUHQ+RUL]RQWXQHQGOLFKYHUJU|HUWXQGNRQQWHQ]XUFNJHNHKUWYRQGHUODQJHQ5HLVHXQGLKUHQ :XQGHUQ EHULFKWHQ XQG PLWKHOIHQ GLH :HOW NOHLQHU ]X PDFKHQ 7DXVHQG YHUVFKLHGHQH 6SUDFKHQ KHUUVFKWHQ DXI GLHVHP EDUEDULVFKHQ 3ODQHWHQ XQG KLQWHU GHQ /HKPPDVNHQ GHU (LQJHERUHQHQ YHUEDUJHQ VLFK ZLOGH XQG XQEHUHFKHQEDUH &KDUDNWHUH 'LH 5HLVH GHU IQI]HKQKXQGHUW 7DJH ZUGH XQV UHLFKPDFKHQ XQGPLFKDOV HUKROWHQ 0DQQ ZLHGHU]XUFNNHKUHQ ODVVHQ HLQ7HLO GHU%LWWHUNHLW XQG GHU 5HVLJQDWLRQ ZDU YHUVFKZXQGHQ (LQ DQGHUHU ZUGH IROJHQ ZHQQ ZLU HQGOLFK HQWODQJ GHV bTXDWRUV XQG GHU .VWHQ QDFK 6SDQLHQ ]XUFNVHJHOWHQ ,FK PXWH HLQJHVFKODIHQ VHLQ GHQQ HLQ ODQJJH]RJHQHV*HKHXOZHFNWHPLFKJHJHQ6RQQHQXQWHUJDQJ ,FKVHW]WHPLFKDXI 'HUEUHLWH5FNHQ$JVDFKDVLQHLQ:DPVDXVGLFNHPPHWDOOYHUVWlUNWHP/HGHUJHKOOWYHUGHFNWH GHQ(LQJDQJ ª$JVDFKD:DVLVWORV"© ,FK VWDQG DXI XQG EOLHE QHEHQ LKP DXI GHU K|O]HUQHQ 7HUUDVVH VWHKHQ HLQHP 9RUVSUXQJ GHU DXI GUHL6HLWHQXPGDV3IDKOKDXVOLHI ª7RWH 0lQQHU WRWH 6FKZHLQH XQG MHGH 0HQJH :HKJHKHXO© VDJWH HU XQG GHXWHWH QDFK XQWHQ $UHND NDP PLW VHLQHQ 0lQQHUQ ]XUFN XQG DOV LFK JHQDX HUNDQQWH ZDV YRUJHIDOOHQ VHLQ PXWH K|UWH LFK ZLHGHU GDV :HKNODJHQ GHU )UDXHQ XQG GLH VW|KQHQGHQ 6FKUHLH GHU 0lQQHU 'LH -lJHU WUXJHQ DQ GXUFKKlQJHQGHQ 6WDQJHQ HOI JURH JUDXH :LOGVFKZHLQH =ZLVFKHQ GHQ 6FKXOWHUQ YRQ DQGHUHQ WlWRZLHUWHQ 0lQUHUQ KLQJHQ WRWH -lJHU GLHVHV 6WDPPHV LFK HUNDQQWH HV DQ GHU )RUP GHU 6FKPXFNQDUEHQ =ZHL *HIDQJHQH ZXUGHQ PLWJHIL KUW XQG PLW 6W|HQ XQG 7ULWWHQ YRUZlUWVJHVFKFEHQXQGJH]HUUW$OVGHU6WDPPGHULQUDVHQGHU(LOH]XVDPPHQJHVWU|PWZDUGLHVH *HIDQJHQHQVDKNDQQWHGDV*HVFKUHLNHLQH*UHQ]HQPHKU(V VFKZROO]XHLQHPJHZDOWLJHQ+HXOHQ.UHLVGLHQXQG-DPPHUQDQ $UHNDGUHKWHVLFKXPXQGULHIDXVGHUJHZDOWLJHQ0HQJH]XXQVKHUDXI ª:LUVLQGEHUIDOOHQZRUGHQ© ,FK YHUVWDQG QLFKW MHGHV :RUW DEHU GHU 6LQQ ZDU NODU :DV MHW]W IROJWH ]lKOWH ]X GHQ E|VHQ (ULQQHUXQJHQGLHZLUDXIGLH+HLPIDKUWPLWQDKPHQ ª6FDUURQ© 'HU VFKZDU]H *HSDUG VSUDQJ DXI GHQ %RGHQ XQG ZDUWHWH DXI PLFK ,FK OHJWH GLH +DQG DXI GHQ *ULII GHU :DIIH XQG JLQJ ODQJVDP DXI GLH 0HQJH ]X 'LH /HXWH ELOGHWHQ HLQH *DVVH XQG $UHND VFKULHXQGVFKQDWWHUWHXQXQWHUEURFKHQ'LH)UDXHQEDQGHQGLHWRWHQ6FKZHLQHORVXQGEHJDQQHQVLH DXI]XEUHFKHQLKQHQGLH6FKZDUWHDE]X]LHKHQXQGVLH]X]HUWHLOHQ+RO]ZXUGHLQV)HXHUJHZRUIHQ -HPHKUGDV7DJHVOLFKWVFKZDQGGHVWRK|KHUORGHUWHQGLH)ODPPHQ $UDNDGUlQJWHVLFK]XPLUGXUFKXQGHUNOlUWH ªhEHUIDOO :LU OLHJHQ LQ %OXWUDFKH PLW GHP 6WDPP 'HQH2UDN :LU KDEHQ ]ZHL )HLQGH ZLU VLH KHXWHNDLNDL© .DLNDL EHGHXWHWH ªHVVHQ© 0DQ YHU]HKUWH GLH *HJQHU XP GHUHQ EHVRQGHUH (LJHQVFKDIWHQ DQQHKPHQ ]X N|QQHQ 'LH VFKQHOOHQ )H GDV VFKDUIH $XJH GHU JXWH %RJHQVFKX GLHVH )lKLJNHLWHQHUEWHPDQ,FKHQWVFKORPLFKGLHVH6FKHXOLFKNHLW]XYHUKLQGHUQZHQQLFKHVNRQQWH 6FKRQGUHKWHQVLFKGLH 6FKZHLQH EHU GHP )HXHU ,FK ULHI PHLQH /HXWH ]XVDPPHQ QDKP 6KDUPD VFKW]HQGLQGHQ$UPXQGHUNOlUWHLKQHQ ª'LH/DJH YHUVFKlUIWVLFK 'LH (LQJHERUHQHQVLQG DXIJHUHJW XQGKDOE ZDKQVLQQLJ:LU WDXVFKHQ VREDOGGLH6FKZHLQHJHEUDWHQVLQGGLH%HLOHXQG0HVVHUXQG]LHKHQXQVLQ5LFKWXQJ3IDG]XUFN 1LHPDQG XQWHUQLPPW HWZDV ² VLH VLQG JHUHL]W XQG N|QQHQ XQV EHUZlOWLJHQ GDQQ JLEW HV HLQ
%OXWEDG9HUVWDQGHQ",FKJHEHGDV6LJQDO]XP$XIEUXFK© ª9HUVWDQGHQ© $JVDFKDEOLHEGLFKWQHEHQPLU:LUYHUKDQGHOWHQPLW$UHNDXQGHLQH$Q]DKOYRQ%HLOHQ0HVVHUQ XQG (QWHUPHVVHUQ ZHFKVHOWHQ GHQ %HVLW]HU GLH HUVWHQ HLVHUQHQ *HJHQVWlQGH DXI GLHVHU ,QVHO 'HU 3XQNW DQ GHP GHU JHZXQGHQH 3IDG GHQ 'VFKXQJHO GXUFKVFKQLWW ZDU EHNDQQW ² GRUWKLQ ZUGHQ ZLUXQV]XUFN]LHKHQ ª:DVSODQVWGX$WODQ"©IOVWHUWH6KDUPD ª6RVFKQHOOZLHP|JOLFKZHJ©VDJWHLFKª'XNHQQVWPHLQH:DIIHQ6KDUPD$JVDFKDZLUGGLFK PLWQHKPHQ,FKYHUWHLGLJHZHQQHVQ|WLJZLUGXQVHUHQ5FN]XJ© ª-DD©PXUPHOWHVLH]|JHUQG (VELOGHWHVLFKLQGHU0DVVHGHU(LQJHERUHQHQHLQH*DVVH-HYLHU-lJHUIKUWHQGLHJHIHVVHOWHQXQG ZLOG XP VLFK VFKODJHQGHQ *HIDQJHQHQ TXHU GXUFK GDV 'RUI $P )X GHU 7RWHPVlXOH ZDUHQ YLHU QHLQVHFKVVFKHQNHOVWDUNH+RO]SIRVWHQLQGHQKDUWJHVWDPSIWHQ/HKPERGHQJHWULHEHQZRUGHQ0RW URKHU *HZDOW ZXUGHQ GLH *HIDQJHQHQ DXI GHQ %RGHQ JHZRUIHQ 0lQQHU VSUDQJHQ KLQ]X XQG IHVVHOWHQ +DQGJHOHQNH XQG )XNQ|FKHO DQ GLH 3IlKOH 'LH ]ZHL 0lQQHU DXV ]DKOORVHQ NOHLQHQ :XQGHQ EOXWHQG XQG EHVSXFNW XQG VFKPXW]LJ ZXUGHQ DQJHSIORFNW 'DQQ VWUDIIWH PDQ PLW +RO]NQHEHOQ GLH )HVVHOQ XQG HUUHLFKWH GDGXUFK GD VLFK GLH 0lQQHU QLFKW PHKU UKUHQ NRQQWHQ 3O|W]OLFKZDUDOOHVVWLOO8QKHLPOLFKUXKLJ1XUGLH*HUlXVFKHGHV'VFKXQJHOVXQGGDV.QLVWHUQGHV XQJHKHXUHQ)HXHUVGDV0LOOLRQHQYRQ,QVHNWHQDQ]RJZDUHQGHXWOLFK]XK|UHQ$UHNDWUDWYRUPLFK XQGVDJWHODQJVDP ª:LUKDEHQJHWDXVFKW²JURH)UHXGHZHLKDDULJHU0DQQ"© ,FKQLFNWHXQGHUNOlUWH ª=XIULHGHQ$UHND'LHVH0lQQHUVWHUEHQZDQQ"© ª1DFKGHP)HVW:LUIHLHUQEDOG,KUDOOH*lVWHGHV6WDPPHV© ª*XW© =LVFKHQGWURSIWHGDV)HWWGHUJHEUDWHQHQ6FKZHLQHVWFNHLQV)HXHU(VURFKDSSHWLWDQUHJHQGDEHU LQ GLHVHQ 6WXQGHQ PDQJHOWH HV XQV DQ GHU UHFKWHQ )UHXGH DQ HLQHP %UDWHQIHVW 'DV 'RUI ZDU LQ 5RWJOXW JHWDXFKW 5LHVLJH %OWHQ DQ GHQ %lXPHQ VDKHQ ZLH ZHLH $XJHQ DXI XQV KHUDE DXI GLH 0HQVFKHQPDVVH GLH ]ZLVFKHQ GHQ 7UHSSHQ XQG 3IlKOHQ GHQ 1HW]HQ XQG GHQ XQ]lKOLJHQ :HUN]HXJHQKLQXQGKHUZDQNWHZLHVFKPXW]LJHV:DVVHULQGHU(EEH'LH.LQGHUNURFKHQ]ZLVFKHQ GHQ%HLQHQGHU0WWHUKHUXP XQGVFKULHQ MlPPHUOLFK ²PDQ EUDFKWHVLH ]XP9HUVWXPPHQ(LQH ODXWORVH DEHU XQJHKHXHU LQWHQVLYH 8QUXKH KDWWH DOOH 0HQVFKHQ HUJULIIHQ $XFK XQV (V ZDU HLQH 8QUXKHZLHVLHHLQHP$XVEUXFKYRQSVHXGRUHOLJL|VHP:DKQVLQQYRUDXVJLQJ ª:DVJHVFKLHKWMHW]W$WODQ"©PXUPHOWH$JVDFKDIUDJHQG,FKVDKDXVGHP$XJHQZLQNHOGDPDQ DXV GHP 9HUVDPPOXQJVKDXV GHV 0lQQHU*HKHLPEXQGHV GLH 0XVLNLQVWUXPHQWH VFKOHSSWH XQG LP +DOENUHLV YRU GHP )HXHU GHP 7RWHPSIDKO XQG GHQ *HIDQJHQHQ DXIVWHOOWH -HGHVPDO ZHQQ HLQ 6WFNFKHQ*OXWDXVGHP)HXHUVSUDQJXQGDXIHLQHPGHU.|USHUODQGHWHVWLHHQGLH*HIDQJHQHQ NOHLQH VSLW]H 6FKUHLH DXV :LU IKOWHQ XQV ZLH HLQJHVFKORVVHQH 7LHUH LQ HLQHU 0HQVFKHQPDVVH HLQJHNHUNHUW(LQH6FKZlUKDOE]DKPHUJHPlVWHWHU6FKZHLQHZXUGHGXUFKGLH0HQJHJHWULHEHQ ª:LUZDUWHQ,QNXU]HU=HLWKDEHQZLUXQVHU)OHLVFK©VDJWHLFKOHLVHª:LUPVVHQEHUHLWVHLQGLH /lKPVWUDKOHUHLQ]XVFKDOWHQ© 'HU%OLFNGHV+lXSWOLQJVLUUWHYRP)HXHUDEZRGLH)UDXHQLQ]ZLVFKHQ)OHLVFKVWFNHDEQDKPHQ XQGLQULHVLJHIULVFKJHZDVFKHQH%DQDQHQEOlWWHUHLQZLFNHOWHQ'LHVWHFKHQGHQ$XJHQKHIWHWHQVLFK DXIPHLQ$PXOHWWGDV]ZLVFKHQGHQ5lQGHUQGHV:LOGOHGHUKHPGHVEDXPHOWH ª'HLQ7RWHP© ,FKQLFNWH ª:DVYHUOHLKWHVGLU"© ª6FKQHOOLJNHLWGHU*HGDQNHQXQG(UILQGHUJHLVW©VDJWHLFKª$EHUHVZLUNWQXUEHL0HQVFKHQPLW KHOOHU+DXW$UHND© ª6R© (UZDQGWHVLFKDE$JVDFKDVFKZLW]WHXQGVHLQH$XJHQJLQJHQXPKHUZLHGLHHLQHV6SHUEHUV(U
JLQJ XP XQVHUH *UXSSH KHUXP ZLH HLQ QHUY|VHU :DFKKXQG ,FK IKOWH GHQ 'UXFN GHV VFKZHUHQ 5RERWN|USHUV6FDUURQVDQPHLQHP.QLH:LHHUJLQJHVLQ]ZLVFKHQGHU7(55$" ª'LHVHV:DUWHQ©PXUPHOWH$JVDFKDXQGNQHWHWHVHLQH)LQJHUª:RUDXIZDUWHQZLUQRFK"'LHVHV :DUWHQZLUGXQVXPEULQJHQ:LUZHUGHQDQJHJULIIHQXQGZHJHQXQVHUHU+DXWIDUEHJHJHVVHQRGHU ZHJHQGHU*U|HZDVZHLLFK+lWWHQZLUGRFKQLHGLH3ODQNHQYHUODVVHQ© ª1RFKNHLQ*UXQG]XU$XIUHJXQJ$JVDFKD©VDJWHLFKª0lQQHU²KROWGLH3DNHWHXQGELOGHWPLW +LOIHYRQ%DVWVFKQUHQ7UDJHODVWHQ:LUZROOHQGDV)OHLVFKQLFKW]XUFNODVVHQ© 'LH0lQQHUYHUVWDQGHQXQGEHZHJWHQVLFKQHUY|VXQGYRU VLFKWLJDXIGDV)HXHU]X'RUWOLHHQVLHVLFKYRQGHQ)UDXHQKHOIHQ (LQXQKHLPOLFKHUEUXPPHQGHU7RQODJQXQPHKULQGHU/XIW(VNODQJDOVREPDQHLQHJLJDQWLVFKH +RUQLVVH HLQJHVSHUUW KDEH XQG VLH ELV ]XP :DKQVLQQ UHL]WH $OOHV JHVFKDK XP XQVHUH 1HUYRVLWlW HLQHP XQKHLPOLFKHQ +|KHSXQNW HQWJHJHQ]XWUHLEHQ ,FK IKOWH ZLH LFK XQUXKLJHU XQG JHVSDQQWHU ZXUGH :HQQ VLFK MHW]W MHPDQG ]X HLQHU 8QEHVRQQHQKHLW KLQUHLHQ OLH GDQQ GHWRQLHUWH GLH DXIJHVWDXWH :XW 'LH VWDUNYRUKDQGHQH 7UDQFH YRQ XQV DOOHQ ODKPWH XQVHUH *HGDQNHQ ,FK EDKQWH PLUHLQHQ:HJ]XPHLQHQ0lQQHUQXQGZLHVVLHDQDPlXHUVWHQUHFKWHQ(QGHGHV+DOENUHLVHV]X ZDUWHQ²LQGLUHNWHU1lKH]XP'VFKXQJHO'RUWZRKHUZLUJHNRPPHQZDUHQ 6LHYHUVWDQGHQEHOXGHQVLFKPLWGHQVFKZHUHQGDPSIHQGHQ3DNHWHQXQGNDXHUWHQVLFK]X%RGHQ :LU VSUWHQ GLH NUDQNH ZLUUH 0DVVH GHU XQDUWLNXOLHUEDUHQ /HLGHQVFKDIWHQ 6LH EHKHUUVFKWHQ LP $XJHQEOLFNGLHVHV'RUI6LHEHKHUUVFKWHQGDUEHUKLQDXVYLHOH7HLOHGHU:HOWKLHOWHQGLH0HQVFKHQ LQ LKUHP %DQQ XQG PDFKWHQ HLQHQ ZDKUHQ )RUWVFKULWW XQP|JOLFK RGHU ]|JHUWHQ LKQ HQGORV KLQDXV 'DV %UXPPHQ GHU XQVLFKWEDUHQ 6FKZLUUK|O]HU UL QLFKW DE 9LHOH 0lQQHU XQG )UDXHQ NDPHQ DXV GHQ +WWHQ ]XUFN XQG KDWWHQ 5DVVHOQ XQG .ODSSHUQ DQ GHQ *HOHQNHQ LKUHU .|USHU EHIHVWLJW -HPDQG VFKOXJ PLW ]ZHL 6FKOHJHOQ HLQHQ XQUHJHOPlLJHQ XQG XQYHUELQGOLFKHQ 5K\WKPXV DXI GHU ULHVLJHQ6FKOLW]WURPPHOHLQHPJURHQ%DXPDEVFKQLWW 'LH 6FKZHLQH UDVWHQ DXIJHUHJW XQG NUHLVFKHQG ]ZLVFKHQ GHQ *UXSSHQ GHU (LQJHERUHQHQ XPKHU :LUVWDQGHQXQVFKOVVLJGD$JVDFKDJULIIQDFKPHLQHP$UPXQG]RJPLFKXQG6KDUPDODQJVDPLQ GLH5LFKWXQJXQVHUHU*UXSSH ª:HJYRPKHOOHQ/LFKW©PDKQWHGHU)UHXQG (WOLFKH.ULHJHUUDQQWHQKHUXPXQGKLHOWHQPHWHUODQJHVFKZHUH.QSSHOLQGHQ+lQGHQ-HPDQG ZDUIHLQHP6FKZHLQHLQH6FKOLQJHEHUXQGGDQQVFKOXJHQGLH0lQQHUGLH6FKZHLQHWRW6LHWDWHQ HVRKQHMHGHV6\VWHPODQJVDPXQGPLWHLQHPJULPPLJHQ*HOlFKWHU'DV6FKUHLHQXQG4XLHNHQGHU VWHUEHQGHQ6FKZHLQHPLVFKWHVLFKPLWGHP7URPPHOQXQGGHP%UXPPHQ'LHVHQ0HQVFKHQIHKOWH GLHHXURSlLVFKH(LQVWHOOXQJ]XP/HEHQXQGQRFKPHKU ]XP7RG 'LH DQGHUHQ 7LHUH ZXUGHQ JHUDGH]X WREVFKWLJ YRU 3DQLN XQG VFKRVVHQ ]LHOORV LP =LFN]DFN KLQ XQGKHU(LQ7LHUUDVWHDXIGLHJHIHVVHOWHQ*HIDQJHQHQ]XWUDPSHOWHDXILKQHQKHUXPUDQQWHGDQQ JHUDGHZHJV GXUFKV )HXHU XQG NDP TXDOPHQG VFKUHLHQG XQG HLQHQ ZLGHUOLFKHQ *HVWDQN YHUEUHLWHQG ZLHGHU DXV GHU *OXW KHUYRU )UDXHQ VSUDQJHQ ]XU 6HLWH XQG HLQLJH -lJHU VHW]WHQ GHP 7LHU QDFK :LU ZDUHQ VSUDFKORV YRU 9HUZXQGHUXQJ XQG (QWVHW]HQ 6DQGXKUI|UPLJH 0HPEUDQR SKRQHZXUGHQKHUDQJHWUDJHQXQGDXIJHVWHOOWZlKUHQGGLHOHW]WHQ6FKZHLQHNUHLVFKHQGXQG]XFNHQG VWDUEHQ 'DQQ HUVFKOXJ PDQ QRFK HLQLJH GHU JHPlVWHWHQ +XQGH GHQHQ PDQ YRUKHU GLH =XQJHQ KHUDXVJHVFKQLWWHQ KDWWH ² VFKRQ RIW KDWWHQ ZLU XQV JHZXQGHUW GD GLH +XQGH KLHU QLFKW EHOOWHQ 'LHVZDUGHU*UXQG ª6LHIUHVVHQ+XQGH3IXL©PXUPHOWHHLQ0DWURVHXQGVSXFNWHDQJHZLGHUWDXV ª8QG,QVHNWHQVHOEVW:UPHU© ,FK VDK QRFK PHKU (LQLJH MXQJH )UDXHQ GLH YRQ QXU VHKU JHULQJHU 6FK|QKHLW ZDUHQ VFKOHSSWHQ HLQHQ )OHFKWNRUE KHUEHL LQ GHP /HKP RGHU (UGH DQJHKlXIW ZDU 'LH (LQJHERUHQHQ VWU]WHQ VLFK GDUDXIXQGEHJDQQHQNOHLQH0HQJHGHV(UGUHLFKV]XHVVHQ ª:DVEHGHXWHWGDV$WODQ"©IOVWHUWH6KDUPDYROOHU(QWVHW]HQ6LHYHUJUXELKU*HVLFKWDQPHLQHU 6FKXOWHU'LHVZDU*HRSKDJLH GHU*HQXYRQ(UGH ª9LHOOHLFKWHVVHQVLHGLH(UGHZHJHQGHU0LQHUDOLHQ2GHUDXVULWXHOOHQ*UQGHQ,FKZHLHVQLFKW JHQDX©
+XQGH XQG 6FKZHLQH ZXUGHQ ]HUVWFNHOW XQG DQV )HXHU JHEUDFKW 6FKZLUUK|O]HU GLH DXIUHFKWVWHKHQGH 6FKOLW]WURPPHO XQG GLH NOHLQHQ +DQGWURPPHOQ O|VWHQ HLQDQGHU DE (V NODQJ DOV RE 0XVLNHU LKUH ,QVWUXPHQWH VWLPPHQ ZUGHQ 'LH PXVLNDOLVFKH 8QWHUPDOXQJ GHV ª)HVWHV© KDWWH QRFK QLFKW EHJRQQHQ ,Q]ZLVFKHQ ZDUHV WLHIH1DFKW JHZRUGHQ 0DQ VFKOHSSWH DQVFKHLQHQG RKQH MHGHV 6\VWHPDQGHUH*HJHQVWlQGH KHUEHL MHW]W ]XP %HLVSLHO UHLFKJHVFKQLW]WH %DXPVWPSIH:LU VWDQGHQQDFKZLHYRULQHLQHUJHVFKORVVHQHQ*UXSSH]XVDPPHQ²DEVHLWV 8QVLFKWEDUH )O|WHQ ]XP 7HLO RIIHQVLFKWOLFK PLW GHU1DVH JHEODVHQ HUNODQJHQ MHW]W 6LH VFKLHQHQ QLFKW IU GLH %OLFNH GHU .LQGHU XQG )UDXHQ EHVWLPPW ]X VHLQ GHQQ ZHGHU LKUH 0XVLNHU QRFK GLHMHQLJHQ YRQ GHQHQ GLH 6FKZLUUK|O]HU EHWlWLJW ZXUGHQ ]HLJWHQ VLFK MHPDOV 'LH 6LQIRQLH GHV 6FKUHFNHQV VSLHOWH PLW YLHOHQ ,QVWUXPHQWHQ 'HU JHVDPWH 'VFKXQJHO VFKLHQ DWHPORV ]X ODXVFKHQ XQG GDV NOHLQH YHUERUJHQH 7DO ZDU YRQ GHP /lUP XQG GHP YLHOIlOWLJHQ *HVWDQN HUIOOW (LQH ULHVLJH :HOOH YRQ VFKZDU]HQ *HVLFKWHUQ XQG DXIJHULVVHQHQ $XJHQ VFKDWWHQZHUIHQGHQ 6FKPXFNQDUEHQXQGVSLW]HQ=lKQHQEHZHJWHVLFKUXQGXPGDV)HXHU6FKZDU]H$UPHIXFKWHOWHQ $Q GHQ *HOHQNHQ NODSSHUWHQ XQG UDVVHOWHQ GLH 0XVFKHOQ XQG GLH KRKOHQ +RO]VWFNH (V ZDU GDV ,QIHUQR ª:LU PVVHQ ]XUFN ,FKZHUGHVRQVW ZDKQVLQQLJ©VDJWH$JVDFKD ODXW,FK VDK HVLKP I|UPOLFK DQZLHHUQDFKHLQHP$XVZHJVXFKWH(UZDUNXU]GDYRUGLHPKVDPEHKDOWHQH%HKHUUVFKXQJ]X YHUOLHUHQ,FKNRQQWHLKQYHUVWHKHQDEHUPHLQH+DQGJUXEVLFKKDUWLQVHLQH6FKXOWHU,FKVDJWHLP VFKDUIHQ%HIHKOVWRQ ª'XWXVWQLFKWVRKQHPHLQHQ%HIHKO$JVDFKD:LUEOHLEHQQRFK$XHUGHPNRPPWGHU+lXSWOLQJ PLW]HKQ.ULHJHUQDXIXQV]X%OHLEHUXKLJ²ZLUKDEHQEHUOHJHQH:DIIHQ© *OHLFK]HLWLJ DNWLYLHUWH LFK HLQ QHXHV 3URJUDPP GHV $OEDWURV (U VDK MHW]W PLW ,QIUDURWDXJHQ XQG SHLOWH VLFK DXI XQV DOV =LHOJUXSSH HLQ *HULHW HLQHU YRQ XQV LQ *HIDKU ZUGH HU QDFK HLQHP VHKU YDULDEOHQ3URJUDPPKDQGHOQ²ZLHDXFKGHU5RERWJHSDUG $UHQNDZLQNWHXQGVDJWHEHWRQW ª=ZHL0lQQHUYRQXQVJHVWRUEHQ:LUKDFNHQ)LQJHUDE'DQQZLUEHVWUDIHQGHQhEHUOlXIHU© ª:LH"©IUDJWHLFKYHUEOIIW 2IIHQVLFKWOLFK LVW MHPDQG DXV GHP HLJHQHQ 6WDPP ]X GHQ )HLQGHQ EHUJHODXIHQ VDJWH GHU ([WUDVLQQ $UHND ªHUNOlUWH© HV PLU ,FK DOV )UHPGHU VROOH GDQQ GLH (KUH KDEHQ GHQ W|GOLFKHQ 6FKX DE]XJHEHQ 6LH ZROOWHQ GHQ hEHUOlXIHU KLQULFKWHQ +LQULFKWHQ REZRKO HU QLFKW KLHU ZDU" ,FK YHUVWDQGQLFKWV ª:LUPDFKHQ$GDWK©YHUNQGHWH$UHNDHLIULJª8QGZLUZHUGHQ7RWHPVWDXVFKHQ)UHPGHU© 0LW HLQHP VFKPXW]LJHQ )LQJHU GHXWHWH HU DXI PHLQHQ =HOODNWLYDWRU ,FK VFKWWHOWH ODQJVDP GHQ .RSI ª.RPP VLHK ]X XQG ZDUWH© VDJWH GHU +lXSWOLQJ GUHKWH VLFK XP XQG VWRO]LHUWH KLQWHU VHLQHQ QDUEHQWlWRZLHUWHQ.ULHJHUQGDYRQ =ZHLMXQJH)UDXHQZXUGHQKHUDQJHEUDFKW'HU)HXHUVFKHLQILHODXILKUHHQWUFNWHQ*HVLFKWHU6LH KREHQGLH+lQGHKRFKXPDOOHQ]X]HLJHQGDEHUHLWVHLQLJHLKUHU$QJHK|ULJHQJHVWRUEHQZDUHQ PHKUHUH )LQJHUJOLHGHU IHKOWHQ .ULHJHU PLW 6FKLOGHQ XQG 6SHHUHQ 6FKlGHOEUHFKHUQ XQG 3IHLON|FKHUQ GLH %|JHQ LQ GHQ +lQGHQ IKUWHQ GLH EHLGHQ MXQJHQ )UDXHQ LP %DVWURFN DQ HLQHQ DXIUHFKWVWHKHQGHQ%DXPDEVFKQLWW ª6LH WDWVlFKOLFK 6LH KDFNHQ LKQHQ GLH )LQJHU DE© VFKULH HLQ 0DWURVH XQG ZROOWH VLFK DXI GLH .ULHJHUVWU]HQ:LUKLHOWHQLKQ]XUFN (LQHVXQVHUHUJHWDXVFKWHQ(QWHUPHVVHUIXKUEOLW]HQGKHUXQWHU (LQZHLWHUHV)LQJHUJOLHGZDUDEJHWUHQQWZRUGHQ'DV0lGFKHQVFKLHQNHLQHQ6FKPHU]]XNHQQHQ RGHU LP $XJHQEOLFN NHLQHQ HPSIXQGHQ ]X KDEHQ 0LW HLQLJHQ %OlWWHUQ ZXUGH GHU EOXWHQGH )LQJHU YHUEXQGHQGDQQEUDFKWHPDQGDV0lGFKHQZLHGHU]XUFNLQGLH+WWH $OOHVZXUGHVWLOO'LH7URPPHOVFKOlJHOLHHQQDFKDOVGDV]ZHLWHPDOHLQKDOEHU)LQJHUDEJHWUHQQW ZXUGH 'LH EOXWHQGHQ *OLHGHU IORJHQ LQV )HXHU EHU GHP %DQDQHQ LUJHQGZHOFKH )ODGHQ XQG GDV )OHLVFKGHU6FKZHLQHXQG+XQGHEULHWHQ
ª,FKZHUGHZDKQVLQQLJ:RKLQKDVWGXXQVJHIKUW$WODQ©NHXFKWH$JVDFKD ,FKQLFNWHXQGKREGLH6FKXOWHUQ,FKPXWH]XJHEHQ ª1LHPDQGNRQQWHGDVZLVVHQ,FKVHKHHLQGDZLUDXIGHUIDOVFKHQ,QVHOJHODQGHWVLQG$EHUZLU ZHUGHQGLHVH+|OOHDXFKKHLOEHUVWHKHQ0LWWHQLQGHU1DFKWVWHKOHQZLUXQVGDYRQ© 'DVOlPPHUDUWLJH%O|NHQDXV+XQGHUWHQYRQ)UDXHQNHKOHQVHW]WHZLHGHUHLQDOVVLFKGLHJHVDPWH (LQZRKQHUVFKDIW GHV 'RUIHV IRUPLHUWH :LU VDKHQ GD PDQ GLH .LQGHU XQG GLH -XJHQGOLFKHQ ZHJJHEUDFKW KDWWH 0HKU DOV ]ZHLKXQGHUW (UZDFKVHQH WXPPHOWHQ VLFK MHW]W 6LH ELOGHWHQ ]XQlFKVW ]ZHL.UHLVH(LQHUEHVWDQGDXV0lQQHUQGHUDQGHUHXPIDWHGLH)UDXHQ9LHOH.ULHJHUVFKLHQHQ]X IHKOHQ²LFKKDWWHYRUKLQPHKU0HQVFKHQVFKlW]HQN|QQHQ ª:DVWXQVLHMHW]WGLHVHZDKQVLQQLJHQ,QVXODQHU"©IUDJWHMHPDQG ª+lOW V0DXOXQGK|UH]X©HUZLGHUWHHLQDQGHUHU0DWURVHJURE )O|WHQXQG6FKZLUUKRO]5DVVHOQ.ODSSHUQXQG7URPPHOQVHW]WHQQXQPLWDOOHU6WlUNHHLQ(VZDU QLFKW GLH 6SXU HLQHU 0HORGLH GDIU DEHU HLQ ]QGHQGHU PLWUHLHQGHU 5K\WKPXV ]X HUNHQQHQ ,FK HUWDSSWH VRJDU XQV ZLH ZLU PLW GHQ )LQJHUQ XQG =HKHQ GHQ 7DNW PLWVFKOXJHQ 'DV GDXHUWH HWZD ]HKQ0LQXWHQ'DQQVHW]WHQVLFKGLH7lQ]HULQ%HZHJXQJXQGVWDPSIWHQGHQ%RGHQ6LHNODWVFKWHQ LQGLH+lQGHXQGVWLHHQDOOHUOHL/DXWHDXVGLHZLH%HOOHQRGHU+XVWHQNODQJHQ'LH.UHLVHGUHKWHQ VLFK JHJHQHLQDQGHU PLW HUPGHQGHU 0RQRWRQLH LPPHU ZLHGHU ZHGHU VFKQHOOHU QRFK ODQJVDPHU 'LH0XVLNDQWHQDUEHLWHWHQDOVZUGHVLHMHPDQGPLWGHU3HLWVFKHDQWUHLEHQ(LQFKDRWLVFKHU5DGDX EUHLWHWH VLFK DXV XQG VFKLHQ GHQ 'VFKXQJHO ULQJVXP ]X HUVFKWWHUQ +RKH MDPPHUQGH 6FKUHLH IUHPG JHKHLPQLVYROO XQG VFKHLQEDU DXV JHPDUWHUWHQ .HKOHQ VWDPPHQG GUDQJHQ DXV GHP XPOLHJHQGHQ:DOG]XXQV'HU7DQ]GDXHUWHODQJHXQGHUZDUYHUJOLFKHQPLWGHQHQGLHZLUKlXILJ PLWHUOHEWKDWWHQYRQJHUDGH]XXQJODXEOLFKHU3ULPLWLYLWlW ,KUN|QQWQRFKQLFKWIOLHKHQVDJWHGHU([WUDVLQQSO|W]OLFK'LH.ULHJHUEHREDFKWHQHXFK 'LH %lXPH DP DQGHUHQ (QGH GHU /LFKWXQJ VFKLHQHQ VLFK ZLH HLQ JHZDOWLJHU JUQHU 9RUKDQJ ]X WHLOHQ (LQ IHLHUOLFKHU 8P]XJ QlKHUWH VLFK GHQ 7DQ]HQGHQ GLH QXQ ]ZHL 5HLKHQ ELOGHWHQ GLH 0lQQHUDXIGHUHLQHQGLH)UDXHQDXIGHUDQGHUHQ6HLWHGHU.ULHJHU%DPEXVIDFNHOQOHXFKWHWHQDXI =LWWHUQGH )ODPPHQ PLW ODQJHQ TXLUOHQGHQ 5XIlGHQ =ZLVFKHQ GHQ bVWHQ VDKHQ ZLU GLH 6SLW]HQ YRQ YLHOHQ 6SHHUHQ XQG GLH DXIIDOOHQGH %HPDOXQJ GHU 6FKLOGH 'LH 0lQQHU WUXJHQ /HKPPDVNHQ 'HU+lXSWOLQJIKUWHVLHDQ=ZLVFKHQGHQ5HLKHQGHUQDFNWHQULWXHOOEHPDOWHQ.ULHJHUVFKULWWHLQH SKDQWDVWLVFKH *HVWDOW HLQKHU 6LH ZDU LQ +XQGH XQG %HXWHOWLHUIHOOH JHKOOW XQG WUXJ OHXFKWHQGH 9HU]LHUXQJHQDXVGHQZLQ]LJHQ)HGHUQNOHLQHU9|JHO0LWHLQHPVWROSHUQGHQ7DQ]VFKULWWO|VWHVLFK GLH *HVWDOW DXV GHQ 5HLKHQ XQG WDQ]WH ODQJVDP ELV ]XP )HXHU 6lPWOLFKH ,QVWUXPHQWH VFKZLHJHQ MHW]WQXUQRFKGLHEUXPPHQGHQ6FKZLUUK|O]HUDUEHLWHWHQZLHEHVHVVHQ ª.RPP]XPLU)UHPGHU©VFKULHGHU+lXSWOLQJXQGZLQNWHPLWGHP6FKLOG ,FK VDK PHLQH :DIIH DQ VFKRE VLH ]XUFN XQG JLQJ UXKLJ GXUFK GLH 0HQVFKHQPHQJH :LHGHU GXUFKOLHIGHU6FKDXHUHLQHUJHRUGQHWHQ%HZHJXQJGDV9RON(V]RJVLFKELVYRUGLH+WWHQ]XUFN =ZLVFKHQ GHQ HWZD GUHLLJ .ULHJHUQ GHP 7RWHPSIDKO GHQ *HIDQJHQHQ XQG GHP +XQGHIOHLVFK HQWVWDQG HLQ IUHLHU 5DXP ,Q $FKWHUQ XQG 6FKOHLIHQ WDQ]WH GHU 9HUPXPPWH KLQ XQG KHU KRE GLH $UPHXQGZDUIGLH%HLQHQDFKDOOHQ6HLWHQ ª:DVLVW]XWXQ"©IUDJWHLFK ª$GDWK:LUW|WHQGHQ9HUUlWHU©VDJWH$UHNDGXPSIXQWHUVHLQHUVFKHXOLFKHQ0DVNHKHUYRU =ZHL 3DUWHLHQ $OOH VDKHQ DWHPORV ]X :LHGHU VHW]WHQ GLH EULJHQ ,QVWUXPHQWH HLQ 'LH .ULHJHU YHUWHLOWHQVLFKLQHLQHPZHLWDXVJHVFKZXQJHQHQ+DOENUHLV'HU+lXSWOLQJXQGDXIVHLQ*HKHLDXFK LFK UHLKWHQ XQV LQ GHQ .UHLV HLQ -HPDQG NDP DXV GHU 'XQNHOKHLW XQG UHLFKWH PLU HLQHQ ODQJHQ %RJHQXQGHLQHQ3IHLO(VZDUHQUHLFKYHU]LHUWHULWXHOOH:DIIHQ (LQH 0HQJH XQVLFKWEDUHU )lGHQ VFKLHQ GHQ YHUPXPPWHQ 7lQ]HU XQG GLH .ULHJHU PLFK HLQJHVFKORVVHQ ]X YHUELQGHQ 8QVHUH %OLFNH XQG DXFK GLH *HGDQNHQ ZXUGHQ ZLH YRQ VFKZDU]HU 0DJLH DQJH]RJHQ $XI HLQHP 3IDKO GHU LQ GHU =ZLVFKHQ]HLW LQ GHQ %RGHQ JHUDPPW ZRUGHQ ZDU VWHFNWHMHW]WHLQKlPLVFKODFKHQGHU7RWHQVFKlGHOY|OOLJZHLXQGSROLHUW'LH]XFNHQGHQ)ODPPHQ EUDFKHQ VLFK GDUDQ 'HU 7lQ]HU YROOIKUWH HLQLJH %HZHJXQJHQ XQG EHJDQQ VHLQH 9HUPXPPXQJ DE]XVWUHLIHQ6REDOGHUHLQ.OHLGXQJVVWFNDXVJH]RJHQKDWWHKlQJWHHUHVDXIGHQ3IDKOXQG]ZDU
GHUDUW JHVFKLFNW GD HLQ JHWUHXHV $EELOG YRQ LKP HQWVWDQG 6FKOLHOLFK DOV GLH 0HQJH ]XP OHW]WHQPDOJHVFKULHQKDWWHZDUIHUVHLQHQ)HGHUPDQWHODEXQGGHFNWHLKQEHUGLHª6FKXOWHUQ©GHU )LJXU :LHGHU VWLPPWHQ GLH :HLEHU LKU ODXWHV *HEUOO DQ 'LH 0lQQHU DQWZRUWHWHQ LQ HLQHP GXQNOHQ VWRZHLVHYRUJHEUDFKWHQ&KRU ª:HUIWGLH6SHHUH6SHHUWGHQ9HUUlWHU6WRW]X© ª6SHHUWLKQ7|WHWLKQ0DFKW$GDWKPLWLKP© ,FK VDK PLFK XP 'LH .ULHJHU KREHQ GLH 6SHHUH ZlKUHQG GHU 7lQ]HU VLFK LQ GHQ 6FKXW] GHU 7RWHPVlXOHIOFKWHWH'LH7URPPHOQ3IHLIHQXQG6FKZLUUK|O]HUYROOIKUWHQHLQHQUDVHQGHQ/lUP ,FKWDWHVGHQ.ULHJHUQQDFKXQGOHJWHGHQ3IHLODXIGLH%RJHQVHKQH'LHHUVWHQ6SHHUHIORJHQ GLH PHLVWHQYRQLKQHQERKUWHQVLFKLQGLHVFKODIIHQ.OHLGXQJVVWFNHDP3IDKO (LQ 6SHHU EOLHE LQ GHU %DXFKJHJHQG GHU 3XSSH VWHFNHQ HLQ DQGHUHU VFKR IDXFKHQG GLFKW QHEHQ GHP+DQGJHOHQNHLQHVGHU*HIDQJHQHQLQGHQ%RGHQ'DQQZLHGHUHLQ'RSSHOFKRU ª6FKLHWGLH3IHLOH© :LU VFKRVVHQ .UlIWLJH $UPH ]RJHQ GLH 6HKQHQ DXV 'LH %|JHQ VSDQQWHQ VLFK XQG GLH 3IHLOH VFKZLUUWHQYRQGHQ6HKQHQ'LH6HKQHQVFKOXJHQJHJHQGLH$UPJHOHQNHXQGVFKUIWHQVLHDXIZR NHLQH VFKW]HQGHQ %DQGDJHQ DQJHEUDFKW ZDUHQ 0HLQ 3IHLO ERKUWH VLFK GXUFK GDV OLQNH $XJH GHV 7RWHQVFKlGHOV KRE LKQ DQ EUDFK GDEHL DE XQG VFKOHXGHUWH GHQ 6FKlGHO NUHLVHOQG XP GDV 3IDKOHQGH(LQJHZDOWLJHU6FKUHLHUVFKWWHUWHGLH1DFKW 'DQQJLQJGHU7DQ]ZHLWHU ,FK QLFNWH GHP +lXSWOLQJ ]X XQG JLQJ RIWPDOV 7lQ]HUQ DXVZHLFKHQG GLH VLFK EHUHLWV LQ 7UDQFH EHIDQGHQ ]XUFN ]X PHLQHU *UXSSH (LQ HUVWDXQWHV 6FKZHLJHQ XQG UDWORVH *HVLFKWHU HPSILQJHQ PLFK,FKVDJWHOHLVHXQGZDUNDVWLVFK ª:HQQ DXFK GHU +lXSWOLQJ XQG VHLQH .ULHJHU PLWWDQ]HQ HPSILQJHQ PLFK ,FK VDJWH OHLVH XQG VDUNDVWLVFK ª:LUKDEHQYHUVWDQGHQ(QGOLFK© 'HU7DQ]JLQJZHLWHUDEHUMHW]WNDPHQHLQLJHDOWH)UDXHQXQGQDKPHQGDV(VVHQYRP)HXHU6LH ]HUWHLOWHQ DOOHV XQG VFKLFKWHWHQ HV IHLQ VlXEHUOLFK DXI JURH 0DWWHQ OHJWHQ HV LQ IODFKH K|O]HUQH 6FKVVHOQ XQG YHUWHLOWHQ HV DXI %DQDQHQEOlWWHU (V EHJDQQ QDFK .UDXWHUQ ]X ULHFKHQ 'DV )HXHU VDQGWH HLQH *HUXFKVZRONH DXV YRQ GHU GLH 6LQQH YHUQHEHOW ZXUGHQ 0DQ KROWH 6FKVVHOQ PLW JUREN|UQLJHPKHOOJUDXHP0HHUVDO]KHUEHL'HU7DQ]ZXUGHXQDEKlQJLJYRQGHQ9RUEHUHLWXQJHQ GLH PDQ MHW]W WUDI ZLOGHU XQG ]JHOORVHU 6FKZHUH JODWWJHVFKlOWH 6WDQJHQ XQG 5RVWH DXV DQJHNRKOWHP +RO] ZXUGHQ DQ GDV )HXHU JHEUDFKW ,FK YHUVWDQG RGHU LFK JODXEWH ]XPLQGHVW ]X DKQHQZDVVLHYRUKDWWHQ -HW]W NDPHQ DXFK GLH .ULHJHU ]XUFN UHLKWHQ VLFK HLQ XQG WDQ]WHQ PLW 'LH )UDXHQ PLVFKWHQ LUJHQGHLQ *HWUlQN LQ HLQHU .DOHEDVVH UKUWHQ KHIWLJ XP XQG O|VFKWHQ NRKOHQGH XQG JOKHQGH =ZHLJH LQ GHU )OVVLJNHLW 'DQQ KXPSHOWHQ VLH KLQEHU ]X GHQ *HIDQJHQHQ GLH ZLOG GLH .|SIH EHZHJWHQ (LQ VWDUUHV (QWVHW]HQ HUIDWH PLFK ² ZLH GDPDOV DOV LFK KLQWHU GHQ .HUNHUJLWWHUQ GDV *HVLFKWGHUDQGLH:DQGJHNHWWHWHQ+H[HJHVH KHQKDWWH LQ7KRUQ.RSHUQLNXVKDWWHPLFKGRUWKLQJHIKUWLQHLQHU*HVSUlFKVSDXVH 'LH )UDXHQ KRFNWHQ VLFK DXI GLH %UXVWN|UEH GHU *HIDQJHQHQ KLHOWHQ GLH .|SIH DP +DDU XQG DQ GHQ 2KUHQ IHVW XQG GUFNWHQ GHQ 0lQQHUQ GLH 1DVHQ ]X :LOG VFKQDSSWHQ VLH QDFK /XIW 'LH )OVVLJNHLWZXUGHLKQHQLQGHQ0XQGJHVFKWWHW6LHJXUJHOWHQKXVWHWHQDEHUGLH6FKDOHQZXUGHQ HUEDUPXQJVORV DXVJHOHHUW $OV GLH )UDXHQ DXIVWDQGHQ ODJHQ GLH EHLGHQ *HIDQJHQHQ HUVFKODIIW GD EHZHJWHQVLFKQXUVFKZDFK ª'DV6SLHONDQQEHJLQQHQ©VDJWHLFKYROOHUXQWHUGUFNWHU:XW :LUEOLFNWHQXQVVFKZHLJHQGXQGEHKXWVDPXP$OOH0LWJOLHGHUGHV6WDPPHVVFKLHQHQ]XWDQ]HQ =XP 7HLO WDWHQ VLH HV PLW JHVFKORVVHQHQ $XJHQ ]XP DQGHUHQ VWDUUWHQ VLH EOLFNORV YRU VLFK KLQ 0HLQH 0lQQHU VWDKOHQ VLFK GXUFK GLH 'XQNHOKHLW GDYRQ 6LH WUXJHQ GLH VFKZHUHQ 3DNHWH PLW GHP KHLHQULHFKHQGHQ%UDWHQPLWVLFK$JVDFKD6KDUPDXQGLFKZDUWHWHQQRFKHLQZHQLJ ª6ROOHQZLUGHQDUPHQ6FKXIWHQKHOIHQ"©IUDJWHGHU0DXUH
ª,FKZHLHVVHOEVWQLFKW©VDJWHLFKª:DUWHQZLUQRFKHLQLJH6HNXQGHQ© :LU ZUGHQ XQV HLQHQ :HJ GXUFK GHQ ILQVWHUHQ 'VFKXQJHO EDKQHQ PVVHQ 1XU GHU ULHVLJH EOHLFKH 0RQG ZUGH XQV GHQ :HJ ILQGHQ KHOIHQ DEHU GXUFK GHQ XQGXUFKGULQJOLFKHQ 'VFKXQJHO OHXFKWHWHQLFKWHLQPDOHU:LUGUHLWUDWHQ]XUFNLQGDV'XQNHOMHQVHLWVGHV)HXHUNUHLVHV ,FKZROOWHPLFKJHUDGHXPGUHKHQDOV6FDUURQQHEHQPLUIDXFKWH 0LWWHQ LQ GHU %HZHJXQJ HUVWDUUWH LFK =HKQ RGHU PHKU .ULHJHU VWU]WHQ VLFK PLW HLQHU YHUEOIIHQGHQ 3O|W]OLFKNHLW DXI GLH ]ZHL ZHKUORVHQ 2SIHU 6LH ULVVHQ GLH 0HVVHU XQG GLH 6FKlGHOEUHFKHUKRFK,QGHUVHOEHQ6HNXQGHKDQGHOWHQ$JVDFKDXQGLFKIDVWJOHLFK]HLWLJ:LUULVVHQ GLH ODQJOlXILJHQ 3LVWROHQ DXV GHP *UWHO VWHOOWHQ XQV IHVW KLQ ]LHOWHQ PLW DXVJHVWUHFNWHQ $UPHQ XQGIHXHUWHQ 'RQQHUQGHQWOXGHQVLFKGLH/lXIH 'LH*HVFKRVVHIXKUHQLQGLH*OXWGHV)HXHUVGHWRQLHUWHQGRUWLQHLQHUHLQ]LJHQKDUWHQ([SORVLRQ XQGVFKOHXGHUWHQ)XQNHQXQG+RO]VWFNFKHQLQDOOH5LFKWXQJHQª/RV,QGHQ'VFKXQJHO©VFKULH LFKXQGJDE6KDUPDHLQHQ6WR'HUQDFK VWH0DWURVHHVZDUJODXEHLFK:DUGDUSDFNWHVLHXQGULVLHPLWVLFK'LH0DQQVFKDIWIOFKWHWH LQGLH6FKZlU]HGHV'VFKXQJHOV 'DQQ]LVFKWHQGLH/lKPVWUDKOHQDXI'LH.ULHJHU]XFNWHQPLWWHQLQGHQ%HZHJXQJHQ]XVDPPHQ OLHHQGLH:DIIHQIDOOHQXQGVDFNWHQ]XVDPPHQ$JVDFKDJDELQNDOWHU:XWQDFKHLQDQGHUIQI]HKQ 6FKVVHDE'HU'RQQHUGHU'HWRQDWLRQHQZDUNDXPYHUKDOOWDOVLFK$JVDFKD]XULHI ª:HJ.PPHUHGLFKXP6KDUPD© ª*HKWLQ2UGQXQJ.lSWHQ©VDJWHHUVHHOHQUXKLJIHXHUWHQRFK]ZHLPDODXI.ULHJHUGLHVLFKDXV GHP 7DQ]NUHLV O|VWHQ 'DQQ UDVWH HU LP =LFN]DFN GXUFK GLH 'XQNHOKHLW GDYRQ ,FK GUFNWH GLH .Q|SIH GLH GDV 1RWSURJUDPP GHV $OEDWURV DNWLYLHUWHQ /DQJVDP JLQJ LFK UFNZlUWV 6FKULWW XP 6FKULWW6FDUURQEOLHEGLFKWYRUPLUXQGVFKREVLFKHEHQIDOOVUFNZlUWVDQGHQ'VFKXQJHOUDQGKHUDQ ,Q GHQ .UHLV GHU WDQ]HQGHQ -lJHU ZDU %HZHJXQJ JHNRPPHQ 6LH VFKULHQ XQG VFKQDWWHUWHQ ,FK ZDUWHWHHLQLJH6HNXQGHQ²ELVKHUKDWWHLFKGHQ7RGGHUEHLGHQ2SIHUYHUKLQGHUQN|QQHQ3O|W]OLFK ULVLFKGHU+lXSWOLQJGLH/HKPPDVNHYRP*HVLFKWXQGVFKULHJHOOHQGDXI ª6LHKDEHQGDV7DEXJHEURFKHQ-DJWVLH© +LQWHUPLUEHZHJWHVLFKHWZDV,FKGUHKWHPLFKVFKQHOOKDOEKHUXPLQGHU(UZDUWXQJGDVEOLW]HQGH 0HWDOO GHU :DIIH $JVDFKDV ]X VHKHQ 3O|W]OLFK WUDIHQ GUHL KDUWH VFKPHU]KDIWH 6FKOlJH PHLQHQ .|USHU *HVFKOHXGHUWH 6WHLQH 'LH +DQG GLH HEHQ GDV 6FKXW]IHOG HLQVFKDOWHQ ZROOWH ZXUGH JHWURIIHQ XQG ZHJJHULVVHQ DXJHQEOLFNOLFK EUHLWHWH VLFK GLH /lKPXQJ DXV ,FK IHXHUWH PLW GHP QRUPDOHQ/DXI]ZHLPDOLQGLH/XIW(LQ6SHHUVFKDIWWUDIPLFKLP1DFNHQ GLH.QLHJDEHQQDFK 'DQQVFKQHOOWHVLFK6FDUURQ]XU6HLWHXQGJUXEQDFKHLQHPULHVLJHQ6DW]VHLQH)lQJHLQGHQ+DOV HLQHV.ULHJHUV 'HU+lXSWOLQJUDQQWHDXIPLFK]XZlKUHQGZHLWHUH6WHLQHGXUFKGLH/XIWVDXVWHQ,FKHUNDQQWHGLH *HIDKUJOHLFK]HLWLJPLWGHP$XIVFKUHLGHV([WUDVLQQHV 'HU$NWLYDWRU ,FK OLH GLH :DIIH IDOOHQ EFNWH PLFK XQG KDNWH GDV $PXOHWW YRQ GHU YHUJROGHWHQ .HWWH 'DQQ EUDFK LFK PLW ]LWWHUQGHQ )LQJHUQ GLH 9HU]LHUXQJHQ YRQ GHP HLI|UPLJHQ $NWLYDWRU ,FK HULQQHUWH PLFK DQ 7URMD XQG lKQOLFKH *HOHJHQKHLWHQ ,FK |IIQHWH GHQ 0XQG VFKRE GHQ $NWLYDWRU DXI GLH =XQJHXQG ZUJWH LKQ KLQXQWHU ,FK KROWH WLHI /XIW XQG JOHLFK]HLWLJ PLW HLQHP HUQHXWHQ $QJULII YRQ DOOHQ 6HLWHQ VDK LFK ZLH PLQGHVWHQV DFKW 0lQQHU DXI GHQ *HSDUG HLQVFKOXJHQ 6LH KLHOWHQ LKQ PLW GHQ 6SHHUHQ LQ 6FKDFK XQG GURVFKHQ PLW GHQ 6FKlGHOEUHFKHUQ DXI LKQ HLQ 'DV 7LHU ZHKUWH VLFK YHU]ZHLIHOW ZLFK DXV VSUDQJ VHQNUHFKW LQ GLH /XIW XQG ZXUGH YRQ 3IHLOHQ GLUHNW JHVSLFNW 9HU]ZHLIHOWUDQJLFKQDFK$WHP,FKYHUVXFKWHPLWGHP$UPDQGHPVLFK]ZHL.ULHJHUIHVWKLHOWHQ GHQ6FKDOWHUIUGDV$EZHKUIHOG]XHUUHLFKHQ +LQWHUGLU ,FKOLHPLFKIDOOHQ(LQIXUFKWEDUHU6FKODJUDXEWHPLUGDV%HZXWVHLQ'HUOHW]WH(LQGUXFNZDU GDVLFKPLQGHVWHQV]ZDQ]LJ(LQJHERUHQHDXIPLFKZDUIHQ'DQQYHUORULFKGDV%HZXWVHLQ
'DV(QGH $XFK 0DJKHOODQHV ZDU LQGHU 6GVHH YRQ (LQJHERUHQHQ JHW|WHW ZRUGHQ 8QG LFK KDWWH HLQ 7DEX JHEURFKHQXQGPLFKLQHLQHNXOWLVFKH+DQGOXQJHLQJHPLVFKW
,FK |IIQHWH GLH $XJHQ (V ZDU QRFK LPPHU 1DFKW $OOHV ZDU VLQQORV JHZHVHQ GHQQ LFK NRQQWH HUNHQQHQZDVJHVFKHKHQZDU 6FDUURQODJGDPLW6HLOHQXQGVFKZHUHQ%DXPVWlPPHQJHIHVVHOW'HU$OEDWURV]RJXPPLFKHQJH .UHLVH LFKLQGHVVHQZDUDQGLH7RWHPVlXOHJHEXQGHQ,QPHLQHP0DJHQGUFNWHGHU$NWLYDWRUDXI GLH 1HUYHQ 5XQG XP GHQ 3IDKO ZDU HLQH 0HQJH YRQ .ULHJHUQ QLHGHUJHPlKW ZRUGHQ DOV GHU $OEDWURV ² XP HLQLJH 6HNXQGHQ ]X VSlW ² LP 7LHIIOXJ KHUXQWHUJHVWRHQ ZDU XQG PLW GHQ 9RUGHUNDQWHQ GHU )OJHO GLH .ULHJHU XPJHULVVHQ KDWWH *DQ] ODQJVDP NHKUWH GDV %HZXWVHLQ ]XUFNXQGPLWLKPDQIDVWDOOHQ6WHOOHQGHV.|USHUVZWHQGH6FKPHU]HQ ,FK EHXJWH GHQ VFKPHU]HQGHQ 5FNHQ XQG GHKQWH PHLQH $UPH 'LH +DQGJHOHQNH ZDUHQ PLW GLFNHQ%DVWVFKQUHQ]XVDPPHQJHEXQGHQXQGLFKGUHKWHVLHODQJVDP5LQJVKHUXPZDUDOOHVUXKLJ DXHU GHQ %HZXWORVHQ XQG 7RWHQ VDK LFK QLHPDQGHQ 'DV )HXHU ZDU KHUXQWHUJHEUDQQW $XI GHQ 6SLH HQXQGDXIGHPYHUNRKOWHQ5RVWODJHQGLH5HVWHGHUYHU]HKUWHQ*HIDQJHQHQ ª9HUGDPPW©VDJWHLFK 'X KDVW GLFK EHUUXPSHOQ ODVVHQ IOVWHUWH GHU ([WUDVLQQ Y|OOLJ EHUIOVVLJ ,FK ]HUUWH DQ GHQ )HVVHOQDEHULFKZUGHVLHQLFKW]HUUHLHQN|QQHQ:RZDUHQGLHYLHOHQ,QVXODQHU"(LQLJH0LQXWHQ VSlWHU EHJULII LFK VLH KDWWHQ VLFK LQ GLH +WWHQ ]XUFNJH]RJHQ YHUPXWOLFK ZDU EHL GHP )HVW HLQH 0HQJH3DOPZHLQJHWUXQNHQZRUGHQ,FKIOVWHUWH ª$OEDWURV© 'HU9RJHOKLHOWLQVHLQHP)OXJLQQHGUHKWHVLFKXPXQGZDUWHWHOHLVHVXPPHQGDXI%HIHKOH,FK VDJWHVFKDUIXQGVRGHXWOLFKZLHHVPHLQHJHVFKZROOHQHQXQGDXIJHVSUXQJHQHQ/LSSHQ]XOLHHQ ª=ZLVFKHQ PHLQHQ +lQGHQ VLQG 6HLOH 6HW]H GHQ 6FKQDEHO HLQ XQG NDSSH GLHVH 9HUELQGXQJHQ /RV© 'HU$OEDWURVVFKZHEWHELVKLQWHUGHQ7RWHPSIDKOVHLQH0DVFKLQHQEUXPPWHQDXIXQGLFKVSUWH GLH VFKDUIHQ 6FKQHLGHQ GHV 6FKQDEHOV 'DQQ HUW|QWH HLQ 6FKZLUUHQ LQ GHU 6WLOOH ,FK UKUWH PLFK QLFKW'LH)HVVHOQZXUGHQDEJH]ZLFNWXQGLFKNLSSWHQDFKYRUQ'UHLVFKQHOOH6lW]HXQGLFKZDU LP'XQNHOYHUVFKZXQGHQQDFKGHPLFKPHKUPDOVEHU%HZXWORVHXQG%HWUXQNHQHJHVWROSHUWZDU 6FDUURQ PHUNWH GD LFK IUHL ZDU XQG HU YHUVXFKWH YHU]ZHLIHOW VLFK ]X EHIUHLHQ :R ZDU PHLQH :DIIH",FKIDQGHLQ%DVWVHLOGUHKWHHV]XHLQHUJURHQ6FKOLQJHXQGKROWHGHQ5RERWYRJHOKHUEHL ,FK EHIHVWLJWHGLH 6FKOLQJHDQVHLQHQ6WlQGHUQXQGKXVFKWHLP=LFN]DFNELV]X GHP+DXIHQ+RO] GHUVLFKXP6FDUURQEHIDQG,FKVXFKWHHLQ0HVVHUNDSSWHGLH6FKQUHXQGZDUIGLH%DXPVWlPPH ]XU6HLWH 3O|W]OLFKHUW|QWHYRPDQGHUHQ(QGHGHU/LFKWXQJHLQ*HUlXVFK-HPDQGIOVWHUWH ª$WODQ© (VZDU$JVDFKD,FKKREGHQ$UPXQGEHGHXWHWHLKPGRUW]XEOHLEHQ ,FK KROWH /XIW LJQRULHUWH GHQ 'UXFN XQWHUKDOE GHU .QRFKHQSODWWH GLH LFK DQVWHOOH GHU PHQVFKOLFKHQ 5LSSHQ EHVD XQG ZDUI GDV OHW]WH 6WFN +RO] ]XU 6HLWH 9LHOH -lJHU ZDUHQ GHV *HSDUGHQ 7RG ² EHLQDKH 6FDUURQ IHGHUWH DXI GLH )H GDV NQVWOLFKH )HOO VDK UHLFKOLFK PLWJHQRPPHQDXVhEHUGHU/LHK WXQJ VFKZHEWH HLQ ULHVLJHU ZHLHU 9ROOPRQG *HKHLPQLVYROOH 6FKDWWHQ EHZHJWHQ VLFK ,FK VDJWH ]X6FDUURQ ª'XEULQJVW$JVDFKD]XUFN]XP6WUDQG:DUWHWGRUWDXIPLFK© 'DQQ ZLQNWHLFK KLQEHU 'HU*HSDUG ZDUI VLFKYRUZlUWV XQGYHUVFKZDQG ODXWORVDP MHQVHLWLJHQ (QGHGHU6FKOXFKW,FKOLHIZHLWHUWURW]PHLQHU6FKPHU]HQ'LH:DIIHIDQGVLFKKDOELQGHQ%RGHQ JHWUDPSHOW ,FK VWHFNWH VLH HLQ GLULJLHUWH GHQ 9RJHO ]X PLU KHU XQG VDK ZLH VLFK HWZDV YRU PLU EHZHJWH
ª$JVDFKD© ª+LHU© ª6FDUURQEULQJWGLFK]XP6WUDQG,FKNRPPHPLWGHP9RJHO6FKQHOO© $JVDFKDPXUPHOWH ª,FKELQLKQHQHQWNRPPHQ(WZDIQI]LJ.ULHJHUVLQGXQVQDFKJHUDQQW6LHSODQHQYLHOOHLFKWGDV 6FKLII]XHQWHUQ© 'DV lQGHUWH GLH 6DFKODJH JUQGOLFK ,FK 6WUHFNWH HLQHQ $UP DXV XQG ]RJ $JVDFKD ]X PLU KHUDQ :LUEHIDKOHQGHP*HSDUGHQVRVFKQHOOZLHP|JOLFK]XP6WUDQG]XODXIHQ'DQQVHW]WHQZLUXQVLQ GLH6HLOVFKOLQJHXQGGHU9RJHOVWLHJVXPPHQGKRFK0LQXWHQVSlWHUZDUHQZLUDP6WUDQG ª:DV LVW ORV"© IUDJWH LFK DOV ZLU HQGOLFK LP QDVVHQ 6DQG YHUVDQNHQ XQG QLHPDQGHQ VHKHQ NRQQWHQ ª:LU VLQG JHIOFKWHW ,FK KDEH DOOH 0lQQHU DXI GDV %RRW JHMDJW 'DV %RRW LVW EHUHLWV QHEHQ GHU 7(55$ 6KDUPD LVWLQ6LFKHUKHLW'DQQUDQQWHLFK]XUFNXQG WUDI DXIGLH.ULHJHU6LHVLQGQLFKW PHKUZHLW© $XVGHP'VFKXQJHOHUW|QWHQGLHDXIJHUHJWHQ6FKUHLHDXIJHVFKHXFKWHU9|JHO'HU*HSDUGVWRELQ ULHVLJHQ 6lW]HQ DXV GHU gIIQXQJ LQ GHU GXQNOHQ 0DXHU GHV :DOGHV KHUDXV XQG DXI XQV ]X :LU NRQQWHQKLHUQLFKWVPHKUWXQ²GLH)OXFKWZDUGLHHLQ]LJH/|VXQJ ª'HU 9RJHO VFKOHSSW DXFK QRFK 6FDUURQ© EHUOHJWH LFK ODXW ª:LU PVVHQ ]XUFN ]XP 6FKLII :HQQGLH(LQJHERUHQHQKLHU.DQXVYHUVWHFNWKDEHQ© $JVDFKDKLHOWVLFKDQGHU6HLOVFKOLQJHIHVWXQG]LHOWHPLWGHU:DIIHDXIGHQ:DOOGHV'VFKXQJHOV HUVDJWHJULPPLJODFKHQG ªLFKVDK6FKOHLIVSXUHQ6LHKDEHQ.DQXV© ªGDQQLVWHYHQWXHOODXFKGLH7(55$LQ*HIDKU/RV IOLHJHQ ZLU ]XUFN :LU ]HLJHQ DEHU GD ZLU EHU HLQHQ :XQGHUYRJHO YHUIJHQ GDV VROOWH GLH 0DQQVFKDIWQLFKWHUIDKUHQ$EHUXQVHUDOOHU/HEHQLVWZLFKWLJHU© :LU VHW]WHQ XQV ZLHGHU LQ GLH 6HLOVFKOLQJH :LU QDKPHQ GHQ UDPSRQLHUWHQ *HSDUG LQ GLH $UPH XQGGDQQKREVLFKGHU9RJHOK|KHUXQGK|KHUXQGVFKZHEWHEHUGDV:DVVHUKLQEHU]XU7(55$ GLH PLW DOOHQ EUHQQHQGHQ 3RVLWLRQVOLFKWHUQ HWZD ]ZHLWDXVHQG 0HWHU ZHLW HQWIHUQW LQ GHQ :HOOHQ VFKDXNHOWH :LU VFKZLHJHQ ELV VLFK GHU 9RJHO LQ HLQHP YRUVLFKWLJHQ $QIOXJ GHP 'HFN GHV +HFNNDVWHOOVQlKHUWH =XHUVWJOLWW$JVDFKDDXVGHP6HLOGDQQLFKVFKOLHOLFKVHW]WHQZLUGHQ*HSDUGDE 6KDUPDZDUIVLFKLQPHLQH$UPH ª,FKKDEHVRYLHO$QJVWXPGLFKJHKDEW/LHEVWHU©IOVWHUWHVLH ,FKVWUHLFKHOWHLKU+DDUXQGPXUPHOWHOHLVH ª$OOHVLVWYRUEHL:LUVHJHOQZLHGHUZHLWHUXQGEDOGVLQGZLULQ6HYLOODRGHU]XPLQGHVWDQHLQHU VFK|QHQOLHEOLFKHQ.VWH© 'DQQZDQGWHLFKPLFKDQ$JVDFKDXQGIUDJWH ª+DVWGXVFKRQHLQPDOGHQ%DXFKHLQHV0HQVFKHQJH|IIQHW)UHXQG$JVDFKD"© ª:DUXP"© (U VFKWWHOWH YROONRPPHQ YHUEOIIW GHQ .RSI 'LH 0lQQHU GHU 0DQQVFKDIW GLH XQVHUHQ $QIOXJ EHREDFKWHWKDWWHQGUlQJWHQVLFKDXIGHP.DVWHOO]XVDPPHQXQGXQWHUKLHOWHQVLFKDXIJHUHJW ª:DUGDU'LHJR©ULHILFK ª.lSWHQ"© ª:LUVHW]HQGLH6HJHO:LUJHKHQZHLWHUQDFK6GHQ$JVDFKD© ª-D"© ª0DFKWGHQ9LHUSIQGHUNODU9LHOOHLFKWPVVHQZLUXQVZHKUHQ© ª,Q2UGQXQJ© 'DV 6FKLII YHUZDQGHOWH VLFK ELQQHQ 6HNXQGHQ LQ HLQH ,QVHO GHU %HWULHEVDPNHLW 'HU GXPSIH *HVDQJ]XVDPPHQJHVHW]WDXVGHPbFK]HQXQGGHQ.RPPDQGRVDP*DQJVSLOOHUVFKROO/DQJVDP EHZHJWH VLFK GDV 6FKLII YRP =XJ DQ GHU 7URVVH JH]RJHQ EHU GHQ VFKZHUHQ $QNHU KLQEHU XQG EUDFKDXVGHP
8QWHUJUXQG'LH5DKHQXQG0DVWHQIOOWHQVLFKPLWGHQ6HJHOQ7URVVHQXQG7DXHVSDQQWHQVLFK XQG 'LHJR GH $YDUUD ZLUEHOWH GDV 5DG GHV 5XGHUV KHUXP :LU VSlKWHQ KLQEHU DQV /DQG ODQJH VFKZDU]H 6FKDWWHQ GUDQJHQ DXV GHP 'VFKXQJHO .DQXV YRQ .ULHJHUQ LQV :DVVHU JHVFKREHQ ,FK OLHI KLQXQWHU DXI 'HFN XQG HUUHLFKWH GDV GUHKEDUH *HVFKW] ,FK JDE HLQLJH $QRUGQXQJHQ 'LH 0XQLWLRQVNLVWH ZXUGH JH|IIQHW XQG LFK ULFKWHWH PLW +LOIH GHU EHLGHQ .XUEHOQ GDV ODQJH GQQH *HVFKW]URKU DXV ,FK ]LHOWH DXI GHQ 6WUDQG 'HU 9HUVFKOX |IIQHWH VLFK ZLU OHJWHQ GLH HUVWH *HVFKRKOVHHLQ'DQQZXUGHGHU9HUVFKOXKHUXPJHZRUIHQXQGDUUHWLHUW ª:LUQHKPHQ)DKUWDXI©ULHI'LHJRYRP5XGHU ª9HUVWDQGHQ6HW]WPHKU6HJHO© 'LH0lQQHU LQ GHQ .DQXV UXGHUWHQ XQGSDGGHOWHQZLH ZLOG,P /LFKWGHV ZHLHQ 0RQGHVZDUHQ VLHXQJHQDX]XHUNHQQHQ=ZHLWDXVHQG0HWHUZDUHQNHLQH(QWIHUQXQJXQGGDV6FKLIIEHZHJWHVLFK MHW]W QRFK VHKU ODQJVDP 'LH +RO]WHLOH NQDUUWHQ ,FK ]LHOWH JHQDX XQG NDONXOLHUWH GLH EDOOLVWLVFKH .XUYHHLQ'DQQOLHLFKGHQ+DKQQDFKYRUQVFKQDSSHQ 'LH %HIHVWLJXQJ GHV *HVFKW]HV IHGHUWH DOV VLFK GHU 6FKX NUDFKHQG DXV GHP 5RKU O|VWH (LQHQ 6HNXQGHQEUXFKWHLO VSlWHU HQWVWDQG ]ZLVFKHQ GHU 7(55$ XQG GHQ YLHU .DQXV GLH HUZDUWHWH :DVVHUVlXOH (LQH ULHVLJH )RQWlQH VSUDQJ LQ GLH /XIW VFKLPPHUWH LP 0RQGOLFKW DXI XQG EHUVFKWWHWHGLH9HUIROJHU ª:LUKDEHQ)DKUW©ULHI'LHJR ,FK ZDUWHWH NXU]H =HLW GDQQ |IIQHWH LFK GHQ 9HUVFKOX 'LH KHLH +OVH UROOWH KHUDXV XQG ILHO NODWVFKHQGLQV:DVVHU:LUOXGHQGDV*HVFKW]HLQ]ZHLWHVPDOXQGIHXHUWHQ 'LHVPDOODJGHU7UHIIHUQlKHUXQGZDUI]ZHLGHU.DQXVXP 1DFKGHP GLH KHLH +OVH HQWIHUQW ZRUGHQ ZDU EUHLWHWH LFK GLH3ODQH ZLHGHU EHU GDV *HVFKW] ,FKEHVFKlIWLJWHPLFKHLQHKDOEH6WXQGHODQJPLWPHLQHQ.DUWHQXQGJDEGLH.XUVHDQ:LUVHJHOWHQ DPZHVWOLFKHQ5DQGGHUJURHQ,QVHOHQWODQJQDFK1RUGHQXQGZUGHQGLHVH5LFKWXQJEHLEHKDOWHQ ELVZLUDXIJOHLFKHU+|KHPLWGHP)OXGHOWDZDUHQ'DQQERJHQZLUQDFK6GZHVWHQDEXQGNDPHQ DQGHQ,QVHOQ$UXXQG6DXPODNLYRUEHL 6FKOLHOLFK ZDU LFK IHUWLJ VSUDFK PLW 'LHJR GHQ .XUV DE XQG OHKQWH PLFK ]XUFN 'HU 'UXFN LQ PHLQHP0DJHQZXUGHODQJVDPXQHUWUlJOLFK 6KDUPV EUDFKWH PLU HLQHQ %HFKHU JHZU]WHQ :HLQHV XQG VHW]WH VLFK DXI GLH /HKQH GHV IHVWHQ 6HVVHOV ª$JVDFKDLVWXQUXKLJ©VDJWHVLHª(UGHQNWGDUEHUQDFKZDUXPGXLKQJHIUDJWKDVW© ª+ROVWGXLKQELWWH"©EDWLFK ª*HUQ© :LUPXVWHUWHQXQVODQJHXQGVFKZHLJHQG(QGOLFKEUDFK$JVDFKDGDV6FKZHLJHQ(UVDJWHOHLVH ª'LHVH)UDJH$WODQ© ª,FK ZHL ,FK KDEH EHZXW JHIUDJW $JVDFKD +DVW GX VFKRQ HLQPDO HLQHQ 0HQVFKHQ DXIJHVFKQLWWHQ"© (UVFKWWHOWHVWXPPGHQ.RSI,QVHLQHQ$XJHQVWDQGHLQIUDJHQGHUXQVLFKHUHU$XVGUXFN ª'X ZLUVW PHLQHQ 0DJHQ |IIQHQ GRUW PHLQ $PXOHWW KHUDXVKROHQ XQG DOOHV ZLHGHU]XQlKHQ 'DV PXLFKYRQGLUPHLQHP)UHXQGYHUODQJHQ©,FKVSLHOWHGHPRQVWUDWLYPLWGHUgVHGHU+DOVNHWWH(U VSUDQJDXIVWDUUWHPLFKXQJOlXELJDQZlKUHQGVHLQ*HVLFKWVFKQHHZHLZXUGH ª'DVNDQQVWGXQLFKWYHUODQJHQ©ULHIHU ª:HQQ GX HV QLFKW WXVW PX LFK LQ HLQLJHQ 6WXQGHQ VWHUEHQ 7XVW GX HV GDQQ ELQ LFK LQ GUHL :RFKHQZLHGHUJDQ]JHVXQG,FKKDEHQLHPDQGHQGHUGLHVYHUPDJ© (UVHW]WHVLFKXQGPXUPHOWHGXPSI ª6SULFK$WODQ©VDJWHHU ,FKHUNOlUWHHVLKPZLHLFKHVGHQEHLGHQbU]WHQYRU7URMDHUNOlUWKDWWH,FKVFKLOGHUWHPLW+LOIH YRQYLHUYHUVFKLHGHQHQ =HLFKQXQJHQZHOFKH*HZHEHVFKLFKWHQHUGXUFKWUHQQHQ PXWH ,FK SDFNWH QDFKHLQDQGHU GLH *HUlWH DXV GLH ZLU EUDXFKWHQ 'LHJR NDP QDFK HLQHU :HLOH XQG LFK EHJDQQ HUQHXW(UZUGH]XVDPPHQPLW6KDUPDGLHLKQHQDVVLVWLHUHQZUGHGLHVH2SHUDWLRQYRUQHKPHQ ,FKVDJWHLKQHQZDVLFKWXQNRQQWHZDVVLHWXQPXWHQ,FKYHUVXFKWHLKQHQGLH$QJVW]XQHKPHQ
PLFKXP]XEULQJHQ/DQJVDPEHJULIIHQVLHGDDXFKHLQ0HQVFKHLQ'LQJZDUGDVPDQ|IIQHQXQG ZLHGHUYHUVFKOLHHQNRQQWH,FKZQVFKWHLFKKlWWHHLQHQWRWHQ(LQJHERUHQHQJHKDEWXPHVLKQHQ ]X GHPRQVWULHUHQ 'DV 5LVLNR IU PLFK ZDU JU|HU DOV YRU 7URMD DEHU ]X PHLQHU HLJHQHQ 9HUZXQGHUXQJPHUNWHLFKGDLFK]XGLHVHQGUHL0HQVFKHQYROOHV9HUWUDXHQKDWWH,QGHQIUKHQ 0RUJHQVWXQGHQZDUHQZLUPLWGHQ6FKLOGHUXQJHQIHUWLJXQGLFKEHVWLPPWHGDGLH2SHUD WLRQKLHUDXIGHP7LVFKGHU.DSLWlQVNDMWHYRUVLFKJHKHQVROOWH:LUKROWHQVDXEHUH7FKHUDXV GHU.RPEVHNDPHQKHLHV:DVVHUXQGVDXEHUHVNDOWHV,FKYHUWHLOWH6HLIHXQGJDE$QZHLVXQJHQ ZDVPLWGHP=HOODNWLYDWRU]XJHVFKHKHQKDEH 'DQQ JDE LFK PLU GLH ,QMHNWLRQ VFKOLHI HLQ XQG GDFKWH GDUDQ ZLH HLQIDFK DOOHV VHL ZHQQ GLHVH 2SHUDWLRQPLOLQJHQZUGH 'DQQZDULFKWRWXQGDOOH3UREHQKlWWHQVLFKLQ1LFKWVDXIJHO|VW 6h'/,&+(5:(1'(.5(,6GLHVH:RUWHVWDQGHQDXIGHUEHWUHIIHQGHQ6HLWHGHV/RJEXFKV,FK KDWWH VLH JHVFKULHEHQ PLW HLQHP GLFNHQ 9HUEDQG EHU GHP 0DJHQ =X GHQ 1DUEHQ ZDUHQ DQGHUH JHNRPPHQ XQG MHGHQ 7DJ VHW]WH LFK GLH YHUKHLOHQGH +DXW GHU 6RQQH DXV *OHLFK]HLWLJ UHJWH GHU $NWLYDWRUGLH*HQHVXQJDQEHHLQIOXWHGLH=HOOHQEHVVHUWHPHLQ$OOJHPHLQEHILQGHQ'LH2SHUDWLRQ ZDU JOFNOLFK YHUODXIHQ KDWWH DEHU IDVW VHFKV 6WXQGHQ JHGDXHUW 6KDUPD 'LHJR XQG $JVDFKD KDWWHQ VLFK VHOEVW EHUERWHQ :lKUHQG LFK DXI 'HFN RGHU LQ GHU .DMWH JHOHJHQ KDWWH ZDU GLH 7(55$ DQGHUH ,QVHOQ DQJHODXIHQ KDWWH GRUW LKUH 7DXVFKJHVFKlIWH DEJHZLFNHOW GLH /DGHUlXPH EDUVWHQIDVWYRU*HZU]HQ(GHOPHWDOOHQXQGVRJDU3RU]HOODQZDUHQDXV2VWDVLHQ,FKVFKULHEHLQHQ ODQJHQ %ULHI DQ 7KHRSKUDVW YRQ +RKHQKHLP JHQDQQW 3DUDFHOVXV LQ GHP LFK XQVHUH (UOHEQLVVH VFKLOGHUWH 9RQ GHQ .DUDYHOOHQ GHV 0DJKHOODQHV KDWWHQ ZLU NHLQH 6SXUHQ PHKU HQWGHFNW REZRKO GHU9RJHOWDJHODQJDOOHP|JOLFKHQ,QVHOQEHVXFKWKDWWH:LUVWLHHQQDFK6GZHVWHQYRUNUHX]WHQ GHQbTXDWRUGHQ:HQGHNUHLVXQGVHJHOWHQGDQQHUVWNODVVLJYHUSURYLDQWLHUWQDFK:HVWHQ²GHP .DSGHU*XWHQ+RIIQXQJHQWJHJHQ
)HEUXDU ,FK NRQQWH QLFKW DQGHUV 0LW :RKOJHIDOOHQ EHWUDFKWHWH LFK GLH 0DQQVFKDIW XQG GDV 6FKLII =ZDU KDWWHHV+XQGHUWHNOHLQHU :XQGHQJHJHEHQJHEURFKHQH$UPHDQJHEURFKHQH.QRFKHQDXVJHUHQNWH*HOHQNH²DEHUNHLQHQ HLQ]LJHQ ZLUNOLFKHQ 8QIDOO %LV DXI =DUR OHEWHQDOOH XQG YHUPXWOLFKEHVVHU DOVDXI MHGHP DQGHUHQ 6FKLIIGDVGLH:HOWPHHUHNUHX]WH 'DV 6FKLII VHOEVW ZDU YHUZLWWHUW 'LH 6HJHO ZDUHQ JHIOLFNW XQG VFKPXW]LJ XQG DXVJHEOHLFKW DEHU DOOH6FKlGHQEHHLQWUlFKWLJWHQQLFKWGLH/HLVWXQJVIlKLJNHLWGHU7(55$6LHODJWLHILP:DVVHU'LH /DGHUlXPHZDUHQYROO'LH/DVWZUGHJXWYHUNDXIWXQVDOOH]XUHLFKHQ0lQQHUQPDFKHQ 6KDUPD ODJ QHEHQ PLU DXI GHP OHLQHQEHU]RJHQHQ 6HVVHO XQG VRQQWH VLFK QXU ZHQLJH .OHLGXQJVVWFNHDP.|USHU ª'XGHQNVWQDFK"©IUDJWHVLHLUJHQGZDQQ ª,FKGHQNHGDUEHUQDFK©VDJWHLFKXQGPDVVLHUWHPHLQH0DJHQJHJHQG'LH1DUEHQVFKPHU]WHQ VFKRQ QLFKW PHKU XQG GLH IULVFKH +DXW EUlXQWH VLFK ]XVHKHQGV +RFK EHU XQV NRQQWH LFK GHQ $OEDWURVVHKHQGHUXQHUPGOLFKYRUGHP6FKLIIVHLQH%HREDFKWHU.UHLVH]RJªGDZLUHLQHVFK|QH =HLWKLQWHUXQVKDEHQXQGHLQHHEHQVRVFK|QH=HLWYRUXQV8QGLFKWUDXHUHGHQYHUORUHQHQ7UlXPHQ QDFK© 6LHIOVWHUWH ª0HLQH 7UlXPH VLQG ZDKU JHZRUGHQ /LHEVWHU ,FK KDEH ZXQGHUYROOH -DKUH KLQWHU PLU ,FK KDEH
QLHPDOVJHGDFKWGLFK]XWUHIIHQXQGPLWGLUXPGLHVHQ3ODQHWHQ]XUHLVHQ,FKKDEHPHKUHUOHEWDOV +XQGHUWHYRQ0HQVFKHQLQLKUHP/HEHQ²LQGUHL-DKUHQ© ª'DVPDJVFKRQVHLQ©VDJWHLFKOHLVHª$EHUPHLQH7UlXPHZDUHQJU|HU6LHIORJHQK|KHUDOVGLH :RONHQLP3DVVDWZLQGGHUXQVQXQKHLPEULQJHQVROO© 6LHOlFKHOWHPLFKDQ ,FK HUVFKUDN HLQ ZHQLJ DOV LFK VLH LP KHOOHQ XQEDUPKHU]LJHQ 6RQQHQOLFKW EHWUDFKWHWH 8QVHUH *HVLFKWHUZDUHQQXUGUHL+DQGEUHLWYRQHLQDQGHUJHWUHQQW,FKVDKVLHDQLKUH$XJHQZDQGHUWHQZLH $PHLVHQ EHU PHLQ *HVLFKW 6KDUPD ZDU DOV LFK VLH NHQQHQJHOHUQW KDWWH HLQ HLQIDFKHV 0lGFKHQ JHZHVHQ PLW $Q]HLFKHQ NRPPHQGHU 6FK|QKHLW ]ZDU DEHU RKQH ZLUNOLFKH /HEHQVHUIDKUXQJ 8QWHUGUFNW XQJHELOGHW XQG HLQ ZHLWHVWJHKHQG XQEHVFKULHEHQHV %ODWW PLW ZXQGHU 6HHOH XQG DXIJHVFKHXHUWHQ +DQGJHOHQNHQ ² YRQ GHQ 6NODYHQIHVVHOQ +HXWH ZDU VLH HLQH MXQJH )UDX VFK|Q YHUORFNHQGJHLVWUHLFKXQGYRQHLQHUVWLOOHQ,QWHOOLJHQ]GLHGDQQZHQQVLHVLFKDUWLNXOLHUWH EHUUDVFKHQG KRFK ZDU 8QHQGOLFK YLHOH XQG ODQJH *HVSUlFKH PLW PLU XQG 'LHJR PLW UXQG GUHL 'XW]HQG JULPPLJHQ 0lQQHUQ GLH SO|W]OLFK OlFKHOWHQ ZHQQ 6KDUPD YRUEHLJLQJ XQG PLW LKQHQ VSUDFK PLW YLHOHQ +lXSWOLQJHQ 6LH ZDU DXI HLQH K|FKVW DQJHQHKPH :HLVH JHUHLIW XQG OHEHQGLJ JHZRUGHQ6LHZDUVRHWZDVZLHHLQHLGHDOH3DUWQHULQ HLQHEH]DXEHUQGH*HOLHEWHLQGHV,FKOlFKHOWH VLHDQXQGVDJWH ª0HLQH 7UlXPH VHKHQ YRU GD DOOH 0HQVFKHQ PLWHLQDQGHU LQ )ULHGHQ OHEHQ XQG JURH 'LQJH YROOEULQJHQVROOHQ© ª'XPHLQVW²:XQGHU6ROFKHZLHVLHEHLGLUDQGHU7DJHVRUGQXQJVLQG"© ,FK ODFKWH VFKDOOHQG 1XU HLQ IHUQHU 6FKPHU] LQ GHU 0DJHQJUXEH HULQQHUWH PLFK DQ GLH OlQJVW EHUVWDQGHQH2SHUDWLRQ ª.HLQH:XQGHUVLQGGDV6KDUPD(VLVWDOOHV]XHUNOlUHQ$EHULFKNRPPHDXVHLQHP/DQGYRQ HLQHP2UWJHQDXHUZRVROFKH'LQJH]XGHQ(UUXQJHQVFKDIWHQGHVWlJOLFKHQ/HEHQV]lKOHQ'HQNH QLFKWPHKUGDUDQ© ª,FKGHQNHRKQHKLQPHLVWQXUDQGLFKXQGQDWUOLFKDQPLFK©JDEVLH]XUFN(LQ6FKDWWHQILHO DXIXQVDOV'LHJRXQG6VDFKDQ\DXIGDV'HFNNDPHQ ª,KUWUlXPW)UHXQGH"©HUNXQGLJWHVLFKGHU6WHXHUPDQQ ª:LUKDEHQJHWUlXPW©JDE6KDUPD]XUFN ª9RQ6HYLOODGHU6WDGWGHU6HKQVXFKW"© ª$XFK GDYRQ 'LHJR 8QG YRQ GHP +DXV PLW GHQ ZHLHQ 0DXHUQ GHQ KHOOHQ )HQVWHUQ XQG GHQ 7DXEHQ DXI GHQ 'lFKHUQ© VDJWH LFK ª*LEW HV HWZDV %HVRQGHUHV RGHU ELVW GX QXU ZHJHQ HLQHV %HFKHUV:HLQKLHUKHUDXIJHVWLHJHQ"© ,Q GHQ OHW]WHQ :RFKHQ KDWWHQ ZLU 7DJH JHKDEW DQ GHQHQ GDV (WPDO K|KHU ZDU DOV MH ]XYRU GLH ]XUFNJHOHJWH (QWIHUQXQJ YRQ 0LWWDJ ]X 0LWWDJ :LHGHU VHJHOWHQ ZLU DXI GHP VGOLFKHQ :HQGHNUHLV QDFK :HVWHQ %DOG PXWH 0DGDJDVNDU DXIWDXFKHQ :LU KDWWHQ YLHU 6WUPH DEJHULWWHQ XQG ]ZHL 6HJHO YHUORUHQ GLH OHW]WHQ 5HVHUYHVHJHO ZXUGHQ JHVHW]W-HW]W KDWWHQ ZLU HLQHQ +LPPHO GHUHLQHJXWHXQGVFKQHOOH+HLPUHLVHI|UPOLFKYHUVSUDFK ª/HW]WHUHV$WODQ©VDJWH'LHJRª(LQH)UDJHDP5DQGXQGLFKP|FKWHGLFKXQJHUQYHUlUJHUQ ,FK K|UHGLFKQLFKWPHKUYRQ0DJKHOODQHVRGHUVHLQHQ1DFKIROJHUQUHGHQ© ,FKULFKWHWHPLFKHLQZHQLJDXIVFKLUPWHGLH$XJHQPLWGHUIODFKHQ+DQGDEXQGHUZLGHUWHHUQVW ª,FK KDEH PLU QRFK HLQH ZLQ]LJH &KDQFH DXVJHUHFKQHW GD YLHOOHLFKW HLQ 6FKLII ]XUFNNRPPW :LU KDEHQ QLFKW GLH 8QWHUVWW]XQJ GHU VSDQLVFKHQ .URQH DEHU ZLU KDEHQ GLH (UGH XPUXQGHW 3LJDIHWWD XQG 'HOFDQR ZUGHQ OHEWHQ VLH QRFK &DUORV GHP (UVWHQ 1DFKULFKW GDYRQ JHEHQ 'LH 7(55$LVWQLFKWZLFKWLJ6LHLVWQXUZLFKWLJIUXQVDOOH© 'LHJRIUDJWHHUVWDXQWXQGXQJOlXELJ ª:LUVROOWHQDOVRGHQ0DQQXQGGHQ1DPHQ0DJKHOODQHVYHUJHVVHQ"© ª6R LVW HV© VDJWH LFK KDUW ª9HUJHVVHQ ZLU LKQ XQG GHQNHQ ZLU DQ XQV (V LVW VLQQYROOHU +ROW $JVDFKD XQG HLQ SDDU 0lQQHU YRQ GHU 0DQQVFKDIW ² ZLU ZROOHQ XQVHU GULWWOHW]WHV :HLQID |IIQHQ© ª'DEHLKDOWHQZLUPLW.lSWHQ©VDJWH:DUGDUGHUGLH%HFKHUEUDFKWH
:LU VHJHOWHQ ZHLWHU 8QVHUH /DXQH KRE VLFK DOV ZLU GLH .VWH YRQ 0DGDJDVNDU VLFKWHWHQ QDFK 6GHQDEERJHQXQGLQHLQHPOHLFKWHQ6WXUPGLH6GVSLW]H$IULNDVXPVFKLIIWHQ$XIGHU)DKUWQDFK 1RUGHQ GLH HQWODQJ GHU :HVWNVWH GHV 5LHVHQNRQWLQHQWHV HQWODQJIKUWH JLQJHQ ZLU PHKUPDOV DQ /DQG XQG KROWHQ )ULVFKZDVVHU XQG .RNRVQVVH 'LH 0DWURVHQ YHUWULHEHQ VLFK GLH =HLW PLW GHQ OHLGHQVFKDIWOLFKHQVFKZDU]HQ0l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lXPWH QLFKW GLHVH ZLFKWLJH (UNHQQWQLV LQ PHLQHQ %ULHIHQ ]X HUZlKQHQ 6SlWHU HLQPDO ZHQQ GLH *HVFKLFKWH GLHVHV 3ODQHWHQ DXV VLFKHUHU ]HLWOLFKHU 'LVWDQ] EHWUDFKWHW ZHUGHQZUGHNRQQWHPDQ0DJKHOODQHVGLHVH(UNHQQWQLV]XVFKUHLEHQ -HGHQIDOOVIUHXWHVLFK6KDUPDDOVLFKLKUVDJWHVLHVHLHLJHQWOLFKHLQHQ7DJMQJHUDOVVLHGDFKWH .DXP MHPDQG HULQQHUWH VLFK ZLUNOLFK DQ XQVHU 6FKLII 'HU 1DPH 0DJKHOODQHV DEHU ZDU YROONRPPHQYHUJHVVHQ 6(9,//$ QDKP XQV ZLHGHU DXI :LU HUIXKUHQ GD &DUORV GHU (UVWH ]XP .DLVHU GHV 5|PLVFKHQ 5HLFKHV 'HXWVFKHU 1DWLRQ JHZlKOW ZRUGHQ ZDU :LU EH]RJHQ ZLHGHU GDV JURH NKOH +DXV GDV HUVW HLQPDO YRQ +DQGZHUNHUQ ZLHGHU LQ 2UGQXQJ JHEUDFKW ZHUGHQ PXWH ZDU +HUQDQGR &RUWH] LQ 0H[LNR JHODQGHW XQG KDWWH GRUW KXQGHUWPDO PHKU ]HUVW|UW DOV LFK DXIJHEDXW KDWWH GDPDOV LQ 9RU]HLWHQ /DQJVDP YHUNDXIWHQ ZLU XQVHUH /DGXQJ DQ GHQVHOEHQ .DXIPDQQ GHU 0DJKHOODQHV DXVJHUVWHW KDWWH 1DFKHLQDQGHU ZXUGHQ GLH 0DWURVHQ DEJHIXQGHQ ² VLH HUKLHOWHQ YHUJOHLFKVZHLVH JHZDOWLJH 6XPPHQ ,FK YHUNDXIWH GDV 6FKLII 'LH 0DQQVFKDIW IDQG VLFK HLQ 9LHUWHOMDKU VSlWHU ]X ]ZHL 'ULWWHOQ ZLHGHU HLQ (LQ IUHPGHU .DSLWlQ HLQ IUHPGHU 6WHXHUPDQQ VWDFKHQ PLW GHU 7(55$ ² GLH MHW]W /26 0217(526( JHWDXIW ZRUGHQ ZDU ² ZLHGHU LQ 6HH 6LH ZROOWHQ QDFK 2VWHQ VHJHOQG GLH 0ROXNNHQ HUUHLFKHQ XQG DXFK 3RU]HOODQ DXV $VLHQ HLQWDXVFKHQ /DQJVDP XQG ]|JHUQG LQ HLQHP KHLHQ XQG ]DXEHUKDIWHQ 6RPPHU VHQNWH VLFK GDV $OOWDJVOHEHQ EHUXQVDOOH,FKOLHEWH6KDUPDXQGVFKULHE.RSHUQLNXVZDVLFKHUOHEWKDWWH(VZXUGHHLQODQJHU %ULHI
,FK OHJWH GHQ 6WLIW QLHGHU EHUODV GDV *HVFKULHEHQH XQG QLFNWH ,Q]ZLVFKHQ NRUUHVSRQGLHUWH LFK VHOEVW PLW 0lQQHUQ ZLH -RKDQQHV %|KP GHU HLQH ªULFKWLJH 9|ONHUNXQGH© VFKUHLEHQ ZROOWH ,FK KDWWHLKP PLWJHWHLOW ZHQ XQGZDVZLUDQJHWURIIHQ KDWWHQ'LH7U|IIQHWHVLFKXQG$JVDFKDNDP KHUHLQ(UVHW]WHVLFKPLUJHJHQEHUXQGVDJWH ª+LHU7ULQNH)UHXQG$WODQ'XZLUVWHWZDVHUOHEHQZDVGXGLUQLFKWHLQPDOHUWUlXPWKDVW©
(UVFKREPLUGHQ.UXJEHUGHQ7LVFKXQGLFKEUDFKWHKDVWLJGLH3DSLHUHLQ6LFKHUKHLW 0DJKHOODQ" +DEHQ GLH 6FKLIIH YLHOOHLFKW VHOEVW PHLQ ([WUDVLQQ DUWLNXOLHUWH YHUZRUUHQ ,FK JULQVWHXQGEHVFKOR$JVDFKD]XlUJHUQ8QVFKXOGLJIUDJWHLFK ª'X ZLOOVW GRFK QLFKW HWZD EHKDXSWHQ GD 'HOFDQR RGHU (VSLQRVD PLW GHU 75,1,'$' KLHU DQJHOHJWKDEHQ"© $JVDFKDVFKPHWWHUWHGLH)DXVWDXIGLH7LVFKSODWWHGDGHU:HLQDXVGHQ%HFKHUQVFKZDSSWH ª9HUGDPPW© ULHI HU ª'DV KDVW GX JHUDWHQ $WODQ 1HLQ 'LH 9,&725,$ IDVW HLQ :UDFN LVW VRHEHQPLWDFKW]HKQ0lQQHUQHLQJHODXIHQ'HOFDQRKDWVLH]XUFNJHEUDFKW6LHZXUGHVRHEHQGHQ *XDGDOTXLYLUKLQDXIJHVFKOHSSW© ,FKQLFNWH ª'X KDVW UHFKW© VDJWH LFK XQG JULII ODFKHQG QDFK GHP *ODV 'DQQ ZXUGH LFK WLHI QDFKGHQNOLFK ª$EHUGDVVROOWHQZLUXQVDQVHKHQ,FKKDEHJHUDWHQLFKJHEHHV]X*HKHQZLU"© ª=XHUVWGHQ:HLQ© :LU VWlUNWHQ XQV GDQQ YHUOLHHQ ZLU GDV +DXV XQG ULWWHQ KLQXQWHU ]XP )OX $OV ZLU GLH 6WUDH HUUHLFKWHQGLH]XU.LUFKHª6DQWD0DULDGHOD9LFWRULD©KLQDXIJLQJVWLHJHQZLUDEEDQGHQGLH7LHUH IHVWXQGVFKREHQXQVGXUFKGLHDXIJHUHJWH0HQJH$FKW]HKQ0lQQHUYRQ'HOFDQRDQJHIKUWZDKUH /HLGHQVJHVWDOWHQ ZDUHQ LQ ZHLH ODQJH *HZlQGHU JHNOHLGHW XQG WUXJHQ ODQJH .HU]HQ LQ GHQ DXIJHULVVHQHQ DEJH]HKUWHQ +lQGHQ 6LH HUIOOWHQ LKU *HOEGH 6LH ZDUHQ GHU 5HVW GHU ([SHGLWLRQ 6WXPPVDKHQ$JVDFKDXQGLFKXQVDQ ª(VLVWVFKZHU©VDJWHHUVFKOLHOLFKDOVGLH2UJHONOlQJHGXUFKGLH*DVVHGU|KQWHQª]XJODXEHQ GD VLH HV GHQQRFK JHVFKDIIW KDEHQ 0DJKHOODQHV )UDX LVW JHVWRUEHQ VHLQH .LQGHU YHUVFKROOHQ QLFKWVLVWPHKUEULJYRQGLHVHPVWRO]HQGVWHUHQ0DQQ© ,FKHUZLGHUWH ª(VLVWVHKUYLHOEULJ$JVDFKD,QZHQLJHQ7DJHQZLUGHLQH1DFKULFKWXPGLH:HOWJHKHQ:LU ZXWHQ HVVFKRQLPPHUDEHU XQVIHKOWH GLH)DQIDUHLQ GLHZLUVWRHQNRQQWHQ $XFKZROOWHQZLU GLHVQLFKW© ª1DFKULFKW":HOFKH"© ª'LH(UGHLVWHLQH.XJHOHLQ3ODQHWXQWHUDQGHUHQ(LQQHXHV:HOWELOGZLUGYRQ6HYLOODDXVVHLQHQ :HJJHKHQ8QGQLHPDQGZHLGD0DJKHOODQHVQLFKWVDQGHUHVDOVPHLQ:HUN]HXJZDU© $FKW0LOOLRQHQ0DUDYHGLVKDWWHGLH([SHGLWLRQJHNRVWHW1DFKGHP9HUNDXIGHU*HZU]HDXVGHQ /DGHUlXPHQGHU9,&725,$EOLHEHQQRFKHLQLJH*ROGVWFNHEULJ9RQGHU6LFKWGHV.DXIPDQQHV DXVEHWUDFKWHWKDWWHVLFKGLHVH)DKUWHEHQIDOOVJHORKQW 0HLQH SHUV|QOLFKH 5HLVH HQGHWH HEHQIDOOV EDOG ² LFK ZROOWH ]XUFN $EHU LFK YHUVXFKWH PHLQH HQJVWHQ)UHXQGHVR]XUFN]XODVVHQGDVLHELV]XLKUHP7RGHRKQH6RUJHQOHEHQNRQQWHQ 6KDUPD ,FK YHUOLH VLH 1XU GHU 8PVWDQG GD LFK XQVWHUEOLFK ZDU XQG GD LFK ZXWH GD GLH =HLW DOOH :XQGHQKHLOWHKDOIPLUGDUEHUKLQZHJGDLFKVLHYHUOLHXQG$JVDFKDHLQHQ%ULHIJDEGHQHULKU LP )DOO PHLQHV 9HUVFKZLQGHQV EHUJHEHQ VROOWH ,FK NDXIWH GDV +DXV XQG HLQH JHZDOWLJH 0HQJH /DQGXQGEHUHLJQHWHLKUDOOHV]XU+lOIWH²GLHDQGHUH+lOIWHHUKLHOW$JVDFKD'LHVZDUDOOHVZDV LFK]XUFNODVVHQNRQQWHGDUXQWHUDXFKGHQ.RPSDGHUIU0DJKHOODQHVJHGDFKWZDU $JVDFKD %DUJHOGXQGPHLQHEHLGHQ:DIIHQPLWDOOHU0XQLWLRQGLHLFKQRFKEHVD'LH$QWHLOHDP6FKLII GHU HKHPDOLJHQ 7(55$ EHUHLJQHWH LFK LKP HEHQIDOOV (U ZUGH PLFK YHUVWHKHQ (LQHV 1DFKWV VDJWH LFK LKP LQ UHFKW GXQNOHU 5HGH GD LFK QLFKW HLQ VSDQLVFKHU *UDQGH VRQGHUQ HLQ XQUXKLJHU 5HLVHQGHUGXUFK/lQGHUXQG=HLWHQZDU 'LHJRXQG6VDFKD\ ,FKEHUHLJQHWHLKQHQHLQHQ]LHPOLFKJURHQ%HVLW]DQDOOGHQ.RVWEDUNHLWHQGLHZLUPLWJHEUDFKW KDWWHQ*ROGXQG.RUDOOHQ3HUOHQXQGDQGHUHV6LHKDWWHQLQHLQHPSUXQNYROOHQ)HVWGDVYLHOH7DJH GDXHUWHJHKHLUDWHWXQGHUZDUWHWHQHLQ .LQG(LQHQ6RKQZLH'LHJRPLWXQHUVFKWWHUOLFKHP2SWLPLVPXVEHKDXSWHWH 8QGHLQHV7DJHVYHUOLHLFKVLH
$OOH $XFK6HYLOODGLH6WDGWGHU*LWDUUHQXQGGHV:HLQHV,FKIORJPLWGHP$OEDWURV]XP9HUVWHFNGHV *OHLWHUV OXG GLH YHUJOHLFKVZHLVH NOHLQHQ 5HVWH PHLQHU $XVUVWXQJ XQG GDV HLQJHWDXVFKWH (GHOPHWDOODXIVFKDOWHWHGLH*HUlWHHLQXQGWUDWGHQ5FN]XJLQPHLQVWlKOHUQHV*HIlQJQLVNQDSS ]ZHL 0HLOHQ XQWHU GHP 0HHUHVVSLHJHO DQ ,FK ZUGH VFKODIHQG ZDUWHQ ELV GDV QlFKVWH 6FKLII ODQGHWH)DOOVHVQRFKHLQHVJDEGDVVLFKDXIGLHVHQ3ODQHWHQYHULUUWH 'LH)DKUWGHUIQI]HKQKXQGHUW7DJHH[LVWLHUWHQXUQRFKLQPHLQHU(ULQQHUXQJ5LFRHPSILQJPLFK DOVVHLLFKQXU6WXQGHQZHJJHZHVHQ%DOGVFKOLHILFKHLQ .+$=$ /DQJVDP VWLHJ GLH 6RQQH EHU GLH +lQJH GHV YXONDQLVFKHQ 7DOHV LP 1RUGNRQWLQHQW =ZLVFKHQ GHQ %lXPHQ VWLHJ GLFNHU 1HEHO DXI 'DV 7DO IOOWH VLFK PLW GHP KHOOJUDXVLOEHUQHQ 6FKOHLHU 'LH6RQQHQVWUDKOHQ NDPHQYRQ2VWHQ VFKRVVHQ EHUGLH 1HEHOREHUIOlFKHXQGWUDIHQGLH :UIHOGHV+DXVHVDPREHUHQ(QGHGHUYLHOHQ7UHSSHQ'HUQlFKWOLFKH6SXNZDUYHUIORJHQ5RQDOG 7HNHQHU XQG GDV 0lGFKHQ ,QJH\Q VWDQGHQ DXV GHP EUHLWHQ IHOOEHU]RJHQHQ 6HVVHO DXI $OV GDV 0lGFKHQ HLQHQ GHU 9RUKlQJH |IIQHWH OHEWH GHU 5DXP PLW GHQ URKYHUSXW]WHQ :lQGHQ DXI $WODQ UKUWHVLFKXQGVDJWH ª,FKEUDXFKHHLQ%DG8QGHWZDV]XWULQNHQ,FKELQY|OOLJHUOHGLJW©1RFK LPPHUVFKREHQVLFKGLHEHLGHQ(EHQHQEHUHLQDQGHU GDV/HEHQLQ6HYLOODXQGGLH:LUNOLFKNHLWDXI .KD]D NXU]YRUGHP6WDUWGHU 5DXPVFKLIIH 7REHQ7HQWKUHGRUHLFKWH$WODQ GLH+DQGXQG]RJ LKQ DXVGHP6HVVHO$WODQVWDUUWHLKQDXVOHHUHQ$XJHQDQª.RPP©VDJWHGDV0lGFKHQ
6LH GXUFKVFKULWWHQ ]ZHL =LPPHU XQG ODQGHWHQ GXUFK HLQH :DVVHUVFKOHXVH DXV VFKZHUHQ 9RUKlQJHQNRPPHQGLPJHPHLQVDPHQ%DG'DVIDVWHWZDV]XZDUPH:DVVHUXPVFKPHLFKHOWHGLH VWDUUHQ *OLHGHU GLH :LUNVWRIIH GUDQJHQ LQ GLH +DXW XQG GHU .UHLVODXI ZXUGH EHOHEW 7HQWKUHGR PXUPHOWH ª,FKZHLQXQDOOHVEHU0DJDOKmHV:LUZLVVHQYLHODXVGLHVHQ=HLWHQDEHUQLFKWDOOHV:LHJLQJ HVZHLWHU"© 6FKULWWXP6FKULWWIDQG$WODQ]XUFNLQGLH:LUNOLFKNHLW(UQDKPGHQVFKZHUHQ3RNDOXQGWUDQN LKQ KDOE OHHU GHU GXQNHOURWH ZLH IULVFKHV %OXW JOKHQGH :HLQ VFKPHFNWH QDFK =LPW XQG 1HONHQ XQGZDUV ª(V JHVFKDK QLFKW PHKU YLHO© PHLQWH $WODQ SW $UFRQ OHLVH ª'LH (UNHQQWQLVVH GLH ZLU DOOH VDPPHOWHQ 3LJDIHWWD XQG LFK UHLFKWHQ ]ZDU IU HLQHQ %HVWVHOOHU GHU 3LJDIHWWD UHLFK XQG EHUKPW PDFKWH DEHU GLH ZLVVHQVFKDIWOLFKH (YROXWLRQ PHLQHV ]ZHLWHQ +HLPDWSODQHWHQ JLQJ PLW PKVDPHU /DQJVDPNHLWYRUVLFK.RSHUQLNXVGDQQ.HSOHUVFKOLHOLFK1HZWRQXQG&DYHQGLVKHUVWPHKU DOVYLHU-DKUKXQGHUWHVSlWHUJDEHVHQWVFKHLGHQGH(LQVLFKWHQ© 'DV0lGFKHQ,QJH\QHUNXQGLJWHVLFKKDOEODXW ª,FKKDEHGHLQH5HLVHLQHLQIHUQHV/DQGPLWDQJHK|UW$UFRQ:DVZXUGHDXVGHLQHP6FKLIIGDV PLW6HJHOQIXKUVWDWWPLW:DVVHU=RRQ"© $WODQOlFKHOWHYHUORUHQZlKUHQGHUVLFKZHLWHUHQWVSDQQWH ª'LH/260217(526"6LHJLQJYHUORUHQGHQNHLFK-HGHQIDOOVVDKHQPHLQHYLHOHQ0DVFKLQHQ $XJHQQLFKWVPHKUYRQLKU© ª8QGXQGGLHVHV0lGFKHQ6KDUPD"6LHPXVHKUOLHEHQVZHUWJHZHVHQVHLQ"© ª6LH ZDU HV ,FK HUOHEWH VSlWHU %LOGHU VLH ZXUGH QRFK VFK|QHU XQG KHLUDWHWH $JVDFKD $EHU VLH ZLUGLKQQLFKWVHKUJHOLHEWKDEHQ© 7 DEDQQLFNWHODQJVDP 6LHEOLHEHQODQJHLQGHP&DOSRGDW 6W\ORQ%DGXQGHUKROWHQVLFK6LHZDUHQ]ZDUPGHDEHUHLQH
$UW+RFKVWLPPXQJEHJDQQVLH]XHUIDVVHQ,KUH$UEHLWDXIGLHVHP3ODQHWHQZDUJHWDQ'LH.XOWXU XQG GLH =LYLOLVDWLRQ GHU VSlWHQ $UNRQLGHQDEN|PPOLQJH NRQQWH VLFK ODQJVDP ZHLWHU HQWZLFNHOQ RKQH YLHO (LQZLUNXQJ YRQ DXHQ $WODQ YHU]LFKWHWH GDUDXI HLQHQ )HKOHU ]ZHLPDO ]X PDFKHQ $XHUGHPHQWILHOIUDOOH0HQVFKHQ.KD ]DVGLH1RWZHQGLJNHLWLKUH:HOW]XYHUODVVHQXQGLQLKUH+HLPDW]XUFN]XNHKUHQ6LHZDUHQDXI LKUH $UW VHKU JOFNOLFK )U $WODQ ZDU GHU $EVFKLHG YRQ GLHVHP 7DO XQSUREOHPDWLVFK IU 7 DEDQ 7HQWKUHGRHWZDVNRPSOL]LHUWHU$EHUGLHVH$UWUXKHORVHU0lQQHUGDFKWHGHU$UNRQLGH]XGHPQRFK PLW HLQHP $NWLYDWRU DXVJHVWDWWHW KLHOWHQ HV QLUJHQGV ODQJH DQ HLQHP 2UW DXV 7HNHQHU KlWWH YLHOOHLFKW LQ GHU /DJH $WODQV DXI 7HUUD RGHU /DUVDI ,,, HEHQVR JHKDQGHOW KHOIHQG YHUDQWZRUWXQJVYROOUHVLJQLHUHQGXQGGHQQRFKYROOHUEUHQQHQGHU6HKQVXFKWQDFKGHU+HLPDW$WODQ OlFKHOWHEUHLWXQGVDJWH ª'LH6RQQHLVWGD:LUVROOWHQHWZDVHVVHQXQGGDQQ]XUFNIOLHJHQ]XP3D© 'UlQJHQLFKW$XFKGLHVH:HOWKDWLKUHHLJHQHQ*HVHW]HIOVWHUWHGHU([WUDVLQQ ,QJH\Q VWLHJ DXV GHP %DG ZDUI VLFK HLQHQ ZHLHQ 0DQWHO XP XQG NDXHUWH VLFK QHEHQ 7 DEDQV 6FKXOWHUQQLHGHU6LHULFKWHWHLKUHQHLQGULQJOLFKHQSUIHQGHQ%OLFNDXI$WODQVKDUWHV*HVLFKW ª$UFRQGXKDVWEHULFKWHWZLHGHU$GDWK.XOWHLQHQ0DQQKLQJHULFKWHWKDW,VWHUJHVWRUEHQ"+DVW GXHWZDVJHVHKHQ"© 'HU$UNRQLGHVFKWWHOWHODQJVDPGHQ.RSI6HLQH+DQGVFKORVLFKXPGHQ=HOODNWLYDWRU ª1HLQ ,FK NRQQWH HV QLFKW NRQWUROOLHUHQ ,FK PXWH GDIU VRUJHQ GD GLH 7(55$ LQ 6HH VWDFK GD ZLU JXW YRP 8IHU 1HXJXLQHDV ZHJNDPHQ XQG GD GLH 2SHUDWLRQ ULFKWLJ GXUFKJHIKUW ZXUGH $XHUGHPZDUHV1DFKW© 6HLQH+DQGZDQGHUWHYRQGHU%UXVWKLQXQWHU]XP0DJHQ'RUWJOLWWHQGLH)LQJHUEHUGLH1DUEHQ LQGHU%DXFKKDXW$WODQPHUNWHZLHHLQ6FKDXHUVHLQH+DXWEHU]RJ ª'HU9HUUlWHUGHVVHQ,PDJRZLUJHW|WHWKDEHQ©VDJWH7 DEDQIHVWªLVWMHGHQIDOOVJHVWRUEHQ'HU 6WDPP EHVFKOR HV GLH $EVWLPPXQJ ZDU JHKHLP XQG GDV (UJHEQLV ZLUG LQ .U]H HLQLJH /HXWH HUVFKUHFNHQ© ª,FKYHUVWHKH©HUZLGHUWH$WODQ 6LHYHUOLHHQGDV%DGWURFNQHWHQVLFKDEXQGVWLHJHQGDQQLQLKUH.OHLGXQJ,QGHUZDUPHQ6RQQH GHV0RUJHQVVDHQVLH]ZLVFKHQ3IODQ]HQXQGZHLHQ0DXHUQYRUHLQHPJHZDOWLJHQ7LVFKGHUVLFK YRU 1DKUXQJVPLWWHOQ XQG 'HOLNDWHVVHQ IDVW ERJ 6LH DHQ ODQJVDP XQG PLW 9HUJQJHQ )DVW HLQ -DKUWDX VHQGWUHQQWHQ $WODQYRP +HXWHXQG YRQGHU =HLW&DUORVGHV(UVWHQ 'LH:LUNOLFKNHLWVWHOOWH VLFK ZLHGHUHLQ6LHVFKZLHJHQELVHLQ%RWHNDPXQGLKQHQVDJWHGDGLH=RRQEHUHLWVWQGHQ IULVFKH DXVJHUXKWH7LHUH $WODQ QDKP DXVQDKPVZHLVH HLQHYRQ7 DEDQV=LJDUHWWHQ]QGHWH VLH DQGHUVFKZDU]HQ.HU]HDQ XQGVDJWH ª,FKJHKHYRUDXV0HLVWHUGHV6FKZHUWHV© 7 DEDQ VWLPPWH VFKZHLJHQG ]X (U PXWH VLFK YRQ ,QJH\Q YHUDEVFKLHGHQ GLHVHV 0DO IU LPPHU RGHUIUHLQHVHKUODQJH=HLW$WODQOHJWHVHLQH+lQGHDXIGLH6FKXOWHUQGHV0lGFKHQVXQGVDJWH ª,FK ELQ HLQ XQUXKLJ 5HLVHQGHU 0lGFKHQ 8QG LFK ZHL ]X VFKlW]HQ ZHQQ PDQ PLFK EHZLUWHW ZHQQPDQPLFKHLQOlGWXQGJXWH*HVSUlFKHPLWPLUIKUW$EHULFKPXZHLWHULQDQGHUH:HOWHQ DXFKVROFKHGLHHVQXULQGHQ7UlXPHQJLEWZLHKHXWHLQGHU1DFKW (LQHV VDJH LFK GLU 7RFKWHU GHU 0RUJHQU|WH ² GX ELVW PDQFKPDO ZLH 6KDUPD 6R NOXJ XQG VR EHJHKUHQVZHUW/HEHZRKO© )UHLQH]XODQJH6HNXQGHVFKPLHJWHVLHVLFKDQLKQGDQQQLFNWH,QJH\QXQGIOVWHUWH ª'HLQ:HJ%UXGHUGHV6FKLIIHVXQGGHU1lFKWHVROOJHUDGHVHLQXQGRKQH:XQGHQYHUODXIHQ© /DQJVDPVWLHJ$WODQQHEHQGHP%RWHQGLHYLHOHQ7UHSSHQKLQDXIELVVLHDXIGLH/DQGHSODWWIRUP GHU=RRQNDPHQ'RUWVWDQGHQYLHU7LHUH(VZDUHQDXVJHVXFKWVFKQHOOH5HQQ=RRQPLWVFKZDU]HUQ *HILHGHU XQG ULHVLJHQ EUDXQHQ $XJHQ 'LH =JHO OLHIHQ GXUFK VLOEHUQH 5LQJH EHVWDQGHQ DXV IHLQVWHP/HGHUHEHQVRZLHGLHKRFKOHKQLJHQ6lWWHOXQGDOOHVZDUEHVWLFNW 'LHNRVWEDUVWHQ6lWWHOGHV6WDPPHVGXUFKIXKUHV$WODQV*HGDQNHQ
(UYHUQHLJWHVLFKYRU'DQFXQGHPª9HWWHUGHU6FKZLQJHQ©XQGVDJWHOHLVH ª7 DEDQ XQG LFK ² ZLU VLQG JHUQ KLHU EHL GHQ 1D\VDW JHZHVHQ 'DQFXQ 8QG LKU HKUW XQV DXI XQJHZ|KQOLFKH:HLVH© 'DQFXQVDJWHVWRO]XQGODXW ª*DUD]7 DEDQ7HQWKUHGRLVWGHU6RKQGHV9XONDQVGHU0HLVWHUGHV6FKZHUWHVGHU9HUEQGHWHGHU 6FKOHXGHU(UKDWXQV'LQJHJHVDJWGLHXQVHUHQ6WDPPJXWXQGOHEHQGLJHUKDO WHQ,KPJHEKUWDOOH(KUH8QGGXELVWVHLQ)UHXQGXQG7 DEDQV)UHXQGHVLQGDXFKGLH)UHXQGH GHU 1D\VDW 7ULIIVW GX HLQHQ YRQ XQV VR ZLUG HU VR IU GLFK VWHUEHQ ZLH GX IU LKQ ,Q GHQ 6DWWHO SW $UFRQ© $WODQ ZLFNHOWH VLFK LQ VHLQHQ 0DQWHO VHW]WH GHQ +HOP DXI XQG VFKRE GDV GXUFKVLFKWLJH =RRQ 9LVLHU KHUXQWHU 'LH =JHO ZDQG HU XP GHQ 6DWWHONQDXI XQG VFKRE VHLQH 6DQGDOHQ IHVW LQ GLH 6WHLJEJHO'DQQZDUWHWHQVLHDXI7 DEDQ 0LW GHP 0lGFKHQ LP $UP NDP 7 DEDQ GLH 7UHSSH KHUDXI (U JLQJ VFKZHLJHQG ELV ]XP DQGHUHQ =RRQ'DQFXQXQGVHLQ%HJOHLWHUVWLHJHQLQGLH6lWWHO(LQ7LHUVFKULHOHLVHDOVVHKQHHVVLFKQDFK HLQHPVFKQHOOHQ6WXU]IOXJ,QJH\QKLHOW7 DEDQV+DQGELV'DQFXQGLH$UPHKREXQGVFKULH ª/RV,Q)RUPDWLRQ]XP3D+RRRR© 6HLQ 7LHU UL GHQ .RSI KRFK VFKULH XQG UDQQWH ORV 'LFKW YRU GHP $EVWXU] HQWIDOWHWH HV GLH VFKZDU]HQ 6FKZLQJHQ ZDUI VLFK LQ GHQ $XIZLQG DP +DQJ XQG EHJDQQ PLW GHQ )OJHOQ ]X VFKODJHQ1DFKHLQLJHQ0HWHUQLQGHQHQHVVFKZHUGXUFKVDFNWHJHZDQQHV+|KHZXUGHVFKQHOOHU XQGVFKQHOOHU'DV]ZHLWH7LHUQDKP$QODXIXQGIROJWH$WODQVHOEVW]RJDP0LWWHO]JHOVFKZDQJ GLH ODQJHQ (QGHQ PLW SIHLIHQGHP *HUlXVFK QHEHQ GHQ 2KUHQ GHV =RRQ XQG VHW]WH VLFK IHVW 'DV 7LHU VWDUWHWH PLW DOOHU :XFKW XQG 6FKQHOOLJNHLW DOV KDEH PDQ HV YRQ HLQHP .DWDSXOW JHVFKQHOOW 'DQQUDXVFKWHGHU)DKUWZLQG $OVVLFK$WODQXPGUHKWHVDKHU7HNHQHUGHUVLFKDXVGHP6DWWHOEHXJWHGDV0lGFKHQNWHXQG GDQQ VWDUWHWH %LQQHQ ZHQLJHU 0LQXWHQ KDWWHHU DXIJHVFKORVVHQ +LQWHUHLQDQGHU LQ HLQHU YHUVHW]WHQ 5HLKHIORJHQ VLHTXHUEHUGDV7DO GHP 3D PLW GHP%DXZHUN DXV/DYDJHVWHLQXQGIHVWJHVHW]WHQ 0LQHUDOLHQHQWJHJHQ 6LHODQGHWHQ 'DQQ YHUDEVFKLHGHWHQ VLH VLFK YRQ 'DQFXQ XQG GHVVHQ )UHXQG 7HNHQHU YHUVSUDFK VR EDOG ZLH P|JOLFK ZLHGHU]XNRPPHQ 6HLQ *HVLFKW ZDU HUQVW XQG YHUVFKORVVHQ $WODQ NDQQWH GLHVHQ $XVGUXFN HVZDU.RQ]HQWUDWLRQXQGGHUIHVWH:LOOHVLFKQLFKWYRQGHQ(ULQQHUXQJHQEHUZlOWLJHQ ]XODVVHQ 6LHJLQJHQZHLWHUGXUFKGHQ]XJLJHQ3DDXIGDV9HUVWHFNGHV*OHLWHUV]X.LHVNQLUVFKWHXQWHU LKUHQ6RKOHQ $FKWXQJHLQ6WHLQVDJWHGHU([WUDVLQQ $WODQKREJDQ]LQ*HGDQNHQGHQIDOVFKHQ)X]XKRFK VWROSHUWHXQGILQJVLFKNQDSSEHUGHP%RGHQZLHGHU7 DEDQEUDFKVHLQ6FKZHLJHQXQGVDJWH ª:LU VROOWHQ HLQH (UNOlUXQJ DEJHEHQ ZHQQ GHU !9HUUlWHU GHU DOV *HIDQJHQHU LP 8626FKLII VLW]WDOVWRWXQGDQYHUJLIWHWHQ.OHWWHQJHVFKRVVHQJHVWRUEHQLGHQWLIL]LHUWZLUG© $WODQJDE]XUFN ª(VZLUGXQVVLFKHUHLQHJXWH(UNOlUXQJHLQIDOOHQ6LHZLVVHQYHUGDPPWJXW7HNHQHUGD6LHVLFK PLWGHP%HVLW]HLQHV=HOODNWLYDWRUVLQHLQH/DJHEHJHEHQKDEHQGLHZHQLJEHQHLGHQVZHUWLVW© ª'DVZXWHLFKDOVLFKODQJH]|JHUWHLKQDQPLFK]XQHKPHQ6LU©JDE7HNHQHU]XUFNª$EHU LFKKDEHLPPHUKLQHLQJDQ]SDVVDEOHV%HLVSLHOZLHPDQHVDXFKPDFKHQNDQQ6FKOLHOLFKNlPSIH LFKQLFKWQXUDXIEDUEDULVFKHQ3ODQHWHQXPGDV6FKLIIGHU5FNNHKU²ZLH6LH© ª'DVLVWYRUEHL©VDJWHGHU$UNRQLGHYHUELVVHQ ª(VLVWYLHOZHQLJHUYRUEHLDOV6LHJODXEHQXQGHVP|FKWHQ©HQWJHJQHWH7HNHQHUXQGVWDUWHWHGHQ *OHLWHUª'DVZLVVHQ6LHJHQDX:LHODQJHVFKOLHIHQ6LHHLJHQWOLFKQDFKGHU:HOWXPVHJOXQJ"© ª0HKUDOVHLQ-DKUKXQGHUW©VDJWH$WODQª$XHUGHPELQLFKPGH© ª,FKDXFK©VDJWH5RQDOG 'HU*OHLWHUVFKZHEWHODQJVDPEHUGLHPlUFKHQKDIWH/DQGVFKDIWGHV1RUGNRQWLQHQWV]XUFN]XP
6FKLII (LQ -DKUKXQGHUW VSlWHU GDFKWH 7HNHQHU HKH HU HLQVFKOLHI KHUUVFKWH LQ (XURSD GHU IUFKWHUOLFKH 'UHLLJMlKULJH .ULHJ $EHU PLW GLHVHQ LP $XJHQEOLFN UHFKW PLJHQ (ULQQHUXQJHQ VFKOLHIHUHLQ'DV8626FKLIIVWDUWHWH1HXH$EHQWHXHUXQGQHXH3ODQHWHQZDUWHWHQ$XI$WODQXQG DXILKQ $OOH 'LQJH ZDUHQ QXU ,QWHUPH]]L =ZLVFKHQVSLHOH DXI HLQHU JHZDOWLJHQ %KQH DXI GHU HLQ]HOQH )LJXUHQ YHUVFKZLQGHQG NOHLQ ZDUHQ .OHLQ XQG XQEHGHXWHQG WURW]GHP IDV]LQLHUHQG GXUFK LKUH HLJHQHQ6FKLFNVDOH'DV6FKLIIHUUHLFKWHGHQ:HOWUDXPXQGUDVWHGDYRQ $OV3(55<5+2'$17$6&+(1%8&+1U HUVFKHLQW 'LHW|GOLFKH(UILQGXQJ 6WRULHVDXVDOOHU:HOWGHV6RODUHQ,PSHULXPVYRQ:,//,$092/7= ª'UDJDQ OLH VLFK DXV GHP 6DWWHO IDOOHQ XQG VSUDQJ ]XU 6HLWH GDPLW GDV 5LHVHQLQVHNW LKQ QLFKW QLHGHUWUDW'HU6WXUPHUJULIILKQPLWYROOHU:XFKWXQGULLKQYRQGHQ%HLQHQ(UODQGHWHXQVDQIW LP6DQG6HLQH0DVNHYHUUXWVFKWH6DQGN|UQHUSUDVVHOWHQLKPLQV*HVLFKWXQGULVVHQGLH+DXWDXI hEHU GHP +HXOHQ GHV 6WXUPHV K|UWH 'UDJDQ SO|W]OLFKHLQ QHXHV *HUlXVFK (V NODQJ DOV SUDOOWHQ ]ZHL5DPPNO|W]HJHJHQHLQDQGHU© 6WDUULRQ GHU JHQLDOH WHUUDQLVFKH :LVVHQVFKDIWHU EHUJLEW VHLQ /HEHQVZHUN GHU N\EHUQHWLVFKHQ ,QGXVWULH ]XU $XVZHUWXQJ 6WDUULRQV (UILQGXQJ ² GLH HQJH 9HUELQGXQJ ]ZLVFKHQ 0HQVFK XQG &RPSXWHU²VROO]XP6HJHQGHU0HQVFKKHLWGLHQHQ'RFKGHU6HJHQHUZHLVWVLFKEDOGDOV)OXFK
