STRES W PRACY NAUCZYCIELA - sbc.org.pl · =eljqlhz0du whq =gdqlhp dxwrunl z sruyzqdqlx ] urnlhp...

12
<DKIPKGY /CTVGP * STRES W PRACY NAUCZYCIELA =DZyG QDXF]\FLHOD PR*QD FK\ED ]DOLF]\ü GR ]DZRGyZ R GX*\P U\]\NX XWUDW\ ]GURZLD ]DUyZQR Z VHQVLH ¿]\F]Q\P MDN L SV\FKLF]Q\P ZLDGF]\ü PRJ R W\P VWDW\VW\NL GRW\F]FH RFHQ\ ]GURZRWQRFL SRSXODFML QDXF]\FLHOVNLHM 'RW\F]\ WR ]DUyZQR VIHU\ VRPDW\F]QHM MDN L SV\FKLF]QHM =ZáDV]F]D GX*H REFL*HQLH VWUHVRZH Z SUDF\ QDXF]\FLHOVNLHM MHVW DNFHQWRZDQH SU]H] EDGDF]\ WHJR SUREOHPX 3RF]WNL EDGD HPSLU\F]Q\FK W\F]F\FK VWUHVX Z ]DZRG]LH QDXF]\FLHOVNLP VLJDM ODW VLHGHPG]LHVLW\FK NLHG\ WR Z EDGDQLDFK F]\QQ\FK ]DZRGRZR QDXF]\ FLHOL VWZLHUG]RQR *H RNRáR MHGQD WU]HFLD ] QLFK SU]H*\ZD Uy*QRURGQH VWUHV\ ]ZL ]DQH ] SUDF 1DVWSXMFH Z ODWDFK Sy(QLHMV]\FK OLF]QH ]PLDQ\ VWUXNWXUDOQH Z V]NROQLFWZLH RUD] Z]URVW RF]HNLZD ]DZRGRZ\FK ZREHF QDXF]\FLHOL VSRZRGRZDá\ Z\UD(QH QDVLOHQLH GRZLDGF]DQHJR SU]H] QDXF]\FLHOL VWUHVX ,VWRWQ\ ZNáDG Z EDGDQLD VWUHVX QDXF]\FLHOVNLHJR PDM DQJLHOVF\ SV\FKRORJRZLH ] 8QLZHUV\WHWX Z &DPEULGJH ± & .\ULDFRX L - 6XWFOLIIH &]VWR F\WRZDQL V NODV\F\ W\FK EDGD 5 2WWR 0 &ROH L 6, :DONHU 0* %RUJ L 5- 5LGLQJ ']LNL WáXPDF]HQLRP QD M]\N SROVNL SU]\EOL*RQR QDV]\P F]\WHOQLNRP Z\QLNL EDGD ' )RQWDQ\ . 3DXOLND L 5 .UHWVFKPDQQD : 3ROVFH EDGDQLD SUREOHPDW\NL VWUHVX ]DZRGRZHJR Z SUDF\ QDXF]\FLHOD SRG MWR GRSLHUR Z ODWDFK G]LHZLüG]LHVLW\FK .ODV\F]QH UR]XPLHQLH VWUHVX ]DZRGRZHJR QDXF]\FLHOL SRFKRG]L ] SUDF & .\ULDFRX L - 6XWFOLIID 6WRVRZDOL RQL LQWHUDNF\MQ\ PRGHO VWUHVX XZD*DMF *H LQQH PRGHOH QLH DNFHQWXM Z GRVWDWHF]Q\P VWRSQLX DQL ]QDF]HQLD SHUFHSFML LQWHUSHU VRQDOQHM DQL UROL DIHNW\ZQ\FK SURFHVyZ Z UHDJRZDQLX QD VWUHV 6WUHV QDXF]\FLHOVNL E\á SU]H] QLFK UR]XPLDQ\ MDNR ]HVSyá V\QGURP QHJDW\ZQ\FK HPRFML NWyUH V HIHNWHP Z\NRQ\ZDQHJR ]DZRGX ,QWHUDNF\MQ\ PRGHO VWUHVX ]DZRGRZHJR QDXF]\ FLHOL UR]EXGRZDQ\ ]RVWDá Z U SU]H] %UHQQHUD L %DUWHOOD 3U]HJOGX GH¿QLFML GRNRQDOL Z U 3LWKHUV L )RJDUW\ D Z SROVNLHM OLWHUDWXU]H RPDZLD WR ]DJDGQLHQLH PLQ 0. *U]HJRU]HZVND : SUDFDFK EDGDZF]\FK SRZLFRQ\FK WHPX ]DJDGQLHQLX PR*QD Z\RGUEQLü NLOND SRGVWDZRZ\FK PRW\ZyZ WHPDW\F]Q\FK 3LHUZV]\ QXUW WZRU] SUDFH GRW\ $XWRU GU =ELJQLHZ 0DUWHQ SV\FKRORJ DGLXQNW Z ,QVW\WXFLH 3V\FKRORJLL :\*V]HM 6]NRá\ +XPDQLWDV Z 6RVQRZFX Z\NáDGRZFD Z :\*V]HM 6]NROH $GPLQLVWUDFML Z %LHOVNX ± %LDáHM 6SHFMDOLVWD Z ]DNUHVLH SV\FKRORJLL NOLQLF]QHM L VGRZHM $XWRU SLHUZV]HJR Z 3ROVFH SRGUF]QLND SV\FKRORJLL VGRZHM

Transcript of STRES W PRACY NAUCZYCIELA - sbc.org.pl · =eljqlhz0du whq =gdqlhp dxwrunl z sruyzqdqlx ] urnlhp...

��

<DKIPKGY�/CTVGP*

STRES W PRACY NAUCZYCIELA

=DZyG�QDXF]\FLHOD�PR*QD�FK\ED�]DOLF]\ü�GR�]DZRGyZ�R�GX*\P�U\]\NX�XWUDW\�]GURZLD�]DUyZQR�Z�VHQVLH�¿]\F]Q\P��MDN�L�SV\FKLF]Q\P���ZLDGF]\ü�PRJ��R�W\P�VWDW\VW\NL� GRW\F]�FH� RFHQ\� ]GURZRWQR�FL� SRSXODFML� QDXF]\FLHOVNLHM�� 'RW\F]\� WR�]DUyZQR�VIHU\�VRPDW\F]QHM��MDN�L�SV\FKLF]QHM��=ZáDV]F]D�GX*H�REFL�*HQLH�VWUHVRZH�Z�SUDF\�QDXF]\FLHOVNLHM�MHVW�DNFHQWRZDQH�SU]H]�EDGDF]\�WHJR�SUREOHPX�

3RF]�WNL� EDGD�� HPSLU\F]Q\FK� W\F]�F\FK� VWUHVX�Z� ]DZRG]LH� QDXF]\FLHOVNLP�VLJDM��ODW�VLHGHPG]LHVL�W\FK��NLHG\�WR�Z�EDGDQLDFK�F]\QQ\FK�]DZRGRZR�QDXF]\�FLHOL�VWZLHUG]RQR��*H�RNRáR�MHGQD�WU]HFLD�]�QLFK�SU]H*\ZD�Uy*QRURGQH�VWUHV\�]ZL��]DQH�]�SUDF��

1DVWSXM�FH�Z�ODWDFK�Sy(QLHMV]\FK�OLF]QH�]PLDQ\�VWUXNWXUDOQH�Z�V]NROQLFWZLH�RUD]� Z]URVW� RF]HNLZD�� ]DZRGRZ\FK� ZREHF� QDXF]\FLHOL� VSRZRGRZDá\� Z\UD(QH�QDVLOHQLH�GR�ZLDGF]DQHJR�SU]H]�QDXF]\FLHOL�VWUHVX��

,VWRWQ\�ZNáDG�Z�EDGDQLD�VWUHVX�QDXF]\FLHOVNLHJR�PDM��DQJLHOVF\�SV\FKRORJRZLH�]�8QLZHUV\WHWX�Z�&DPEULGJH�±�&��.\ULDFRX�L�-��6XWFOLIIH��&]VWR�F\WRZDQL�V��NODV\F\�W\FK�EDGD���5��2WWR���������0��&ROH�L�6�,��:DONHU���������0�*��%RUJ�L�5�-��5LGLQJ���������']LNL�WáXPDF]HQLRP�QD�M]\N�SROVNL�SU]\EOL*RQR�QDV]\P�F]\WHOQLNRP�Z\QLNL�EDGD��'��)RQWDQ\���������.��3DXOLND��������������L�5��.UHWVFKPDQQD��������

:�3ROVFH�EDGDQLD�SUREOHPDW\NL�VWUHVX�]DZRGRZHJR�Z�SUDF\�QDXF]\FLHOD�SRG�

MWR�GRSLHUR�Z�ODWDFK�G]LHZLüG]LHVL�W\FK�.ODV\F]QH� UR]XPLHQLH� VWUHVX� ]DZRGRZHJR� QDXF]\FLHOL� SRFKRG]L� ]� SUDF�

&��.\ULDFRX� L�-��6XWFOLIID��6WRVRZDOL�RQL�LQWHUDNF\MQ\�PRGHO�VWUHVX��XZD*DM�F��*H�LQQH�PRGHOH�QLH�DNFHQWXM��Z�GRVWDWHF]Q\P�VWRSQLX�DQL�]QDF]HQLD�SHUFHSFML�LQWHUSHU�VRQDOQHM��DQL�UROL�DIHNW\ZQ\FK�SURFHVyZ�Z�UHDJRZDQLX�QD�VWUHV��6WUHV�QDXF]\FLHOVNL�

E\á� SU]H]� QLFK� UR]XPLDQ\� MDNR� ]HVSyá�� V\QGURP� QHJDW\ZQ\FK� HPRFML�� NWyUH� V��HIHNWHP�Z\NRQ\ZDQHJR�]DZRGX��,QWHUDNF\MQ\�PRGHO�VWUHVX�]DZRGRZHJR�QDXF]\�

FLHOL�UR]EXGRZDQ\�]RVWDá�Z������U��SU]H]�%UHQQHUD�L�%DUWHOOD��3U]HJO�GX�GH¿QLFML�GRNRQDOL�Z������U��3LWKHUV�L�)RJDUW\��D�Z�SROVNLHM�OLWHUDWXU]H�RPDZLD�WR�]DJDGQLHQLH�

P�LQ��0�.��*U]HJRU]HZVND��������

:�SUDFDFK�EDGDZF]\FK�SR�ZLFRQ\FK�WHPX�]DJDGQLHQLX�PR*QD�Z\RGUEQLü�NLOND� SRGVWDZRZ\FK�PRW\ZyZ� WHPDW\F]Q\FK�� 3LHUZV]\� QXUW� WZRU]�� SUDFH� GRW\�

� $XWRU�� GU� =ELJQLHZ� 0DUWHQ�� SV\FKRORJ�� DGLXQNW� Z� ,QVW\WXFLH� 3V\FKRORJLL� :\*V]HM� 6]NRá\� +XPDQLWDV�Z�6RVQRZFX��Z\NáDGRZFD�Z�:\*V]HM�6]NROH�$GPLQLVWUDFML�Z�%LHOVNX�±�%LDáHM��6SHFMDOLVWD�Z�]DNUHVLH�SV\FKRORJLL�NOLQLF]QHM�L�V�GRZHM��$XWRU�SLHUZV]HJR�Z�3ROVFH�SRGUF]QLND�SV\FKRORJLL�V�GRZHM�

���

=ELJQLHZ�0DUWHQ

F]�FH�SRMFLD�VWUHVX�QDXF]\FLHOVNLHJR��3UDFH�WH�SR]RVWDM��Z��FLVá\P�]ZL�]NX�]�SUD�

FDPL�QDG�RJyOQ��WHRUL��VWUHVX�SV\FKRORJLF]QHJR��'UXJD�JUXSD�EDGD��GRW\F]\�F]�

VWRWOLZR�FL�Z\VWSRZDQLD�L�VWRSQLD�QDVLOHQLD�VWUHVX�QDXF]\FLHOVNLHJR��.ROHMQ��JUXS�

WHPDW\F]Q��WZRU]��EDGDQLD�JáyZQ\FK�(UyGHá�VWUHVX�Z�SUDF\�]DZRGRZHM�QDXF]\FLHOD��

3RQDGWR�ZLHOH�SUDF�SR�ZLFRQ\FK�MHVW�REMDZRP��VNXWNRP�]GURZRWQ\P�L�NRV]WRP�

RVRELVW\P�SUDF\�SHGDJRJyZ�Z�ZDUXQNDFK�SU]HZOHNáHJR�VWUHVX��'R�WHM�JUXS\�EDGD��

QDOH*��SUDFH�GRW\F]�FH�]MDZLVND�W]Z��Z\SDOHQLD�]DZRGRZHJR�

:�V]HUV]\P�]QDF]HQLX� L�Z�GXFKX�SR]\W\ZQHJR�P\�OHQLD� WUDNWXM�� R�SUREOH�

PDFK� SUDF\� QDXF]\FLHOVNLHM� UR]SUDZ\� X*\ZDM�FH� RNUH�OH�� Ä]DGRZROHQLH� ]DZR�

GRZH´��Ä]DGRZROHQLH�]�SUDF\´��Ä]DZRGRZD�VDW\VIDNFMD´��Ä]DZRGRZ\�VXNFHV´�LWS�

�3DXOLN��������*DZOLN��������

0�.��*U]HJRU]HZVND��������G]LHOL�EDGDQLD�SUREOHPDW\NL�VWUHVX�]DZRGRZHJR�

QDXF]\FLHOL�QDVWSXM�FR�

��SLHUZV]\�QXUW�WZRU]��SUDFH�GRW\F]�FH�]GH¿QLRZDQLD�SRMFLD�VWUHVX�QDXF]\�

FLHOVNLHJR�� SR]RVWDM�FH� Z� �FLVá\P� ]ZL�]NX� ]� SUDFDPL� QDG� RJyOQ�� WHRUL�� VWUHVX�

SV\FKRORJLF]QHJR�

��GUXJD�JUXSD�EDGD��GRW\F]\�F]VWR�FL�Z\VWSRZDQLD�L�VWRSQLD�QDVLOHQLD�VWUHVX�

QDXF]\FLHOVNLHJR�

�� WU]HFLD� JUXSD� SUDF� SR�ZLFRQD� MHVW� V\PSWRPDWRORJLL�� RGOHJá\P� VNXWNRP�

]GURZRWQ\P�L�NRV]WRP�RVRELVW\P�Z\QLNDM�F\FK�]�SUDF\�SHGDJRJLF]QHM�Z�ZDUXQ�

NDFK�VWUHVX�SU]HZOHNáHJR�

��F]ZDUWD�JUXSD�WHPDW\F]QD�GRW\F]\�PHWRG�L�WHFKQLN�SRPLDUX�VWUHVX�QDXF]\�

FLHOVNLHJR��NRQVWUXNFML��RSLVX�L�RFHQ\�VWRVRZDQ\FK�QDU]G]L�EDGDZF]\FK�RUD]�SUyE�

LFK�GRVNRQDOHQLD�]JRGQLH�]�SU]\MPRZDQ\PL�Z�SV\FKRPHWULL�VWDQGDUGDPL��

��SL�W\�L�RVWDWQL�REV]DU�QDXNRZHM�SHQHWUDFML�VWDQRZL��EDGDQLD�QDG�JáyZQ\PL�

SU]\F]\QDPL�VWUHVX�QDXF]\FLHOVNLHJR��

-HGQ�� ]� SLHUZV]\FK� UHÀHNVML� GRW\F]�F\FK� VWUHVRJHQQHJR� FKDUDNWHUX� SUDF\�

QDXF]\FLHOVNLHM�E\á\�XZDJL�%��-RGáRZVNLHM��������SRF]\QLRQH�QD�PDUJLQHVLH�EDGD��

GRW\F]�F\FK� ZDUXQNyZ� L� RNROLF]QR�FL� VWDUWX� ]DZRGRZHJR� QDXF]\FLHOD��$XWRUND�

X*\áD�ZWHG\�RNUH�OHQLD�ÄV]RN�]DZRGRZ\´��SLV]�F��*H�MHVW�WR�VWDQ�]ZL�]DQ\�]H�VWUD�

FKHP��IUXVWUDFMDPL�L�VWUHVHP��:�ZLNV]R�FL�SU]\SDGNyZ�WRZDU]\V]\�PX�GH]RULHQ�

WDFMD�L�EH]VLOQR�ü��QLHNLHG\�DJUHVMD�L�DXWRDJUHVMD��-HGQ��]�ZLHOX�SU]\F]\Q�WHJR�V]RNX�

MHVW�EUDN�ZLHG]\�L�XPLHMWQR�FL�]DFKRZDQLD�VL�Z�QRZHM�V\WXDFML��HOHPHQWyZ�W]Z��

NXOWXU\�]DZRGRZHM�QDXF]\FLHOD�

3RGHMPRZDQLH� Z� SXEOLNDFMDFK� QDXNRZ\FK� SUREOHPDW\NL� VWUHVX� V]NROQHJR�

PLDáR�Z�ODWDFK�G]LHZLüG]LHVL�W\FK�FKDUDNWHU�SU]\F]\QNDUVNL�L�VRQGXM�F\�SUREOHP�

�:DZHOVND�3DSURFND��������0XUG]HN��������������.RWZLFND��������

&]VWR�F\WRZDQH�V�� MHGQH�]�SLHUZV]\FK�EDGD���NWyU\FK�DXWRUND�0��.UDZXO�

VND�3WDV]\�VND�Z� ����� U�� SRGMáD� EDGDQLH� SUREOHPDW\NL�Z\SDOHQLD� ]DZRGRZHJR�

Z��URGRZLVNX�]DZRGRZ\P�QDXF]\FLHOL��.UDZXOVND�3WDV]\�VND��������7XFKROVND��

������*UDG��������

���

6WUHV�Z�SUDF\�QDXF]\FLHOD

%DGDQLD�NRQG\FML�SV\FKLF]QHM�QDXF]\FLHOL�SU]HSURZDG]LáD�%��.DUROF]DN�%LHU�

QDFND��%DGDQLD�SU]HSURZDG]RQH�Z������URNX�REMá\�����QDXF]\FLHOL��2ND]DáR�VL��

*H�SRQDG�����QDXF]\FLHOL�SU]\]QDMH��L*�áDWZR�VL�GHQHUZXM���EUDN�LP�SRF]XFLD�EH]�

SLHF]H�VWZD��F]XM��VL�]QLHFKFHQL��EUDN�LP�UDGR�FL�*\FLD��PDM��WUXGQR�FL�]�SODQR�

ZDQLHP�]DUyZQR�]DGD��ELH*�F\FK��MDN�L�SU]\V]á\FK�

%DGDQLD�+��5\ONH��������GRW\F]\á\�VNXWNyZ�]GURZRWQ\FK�SUDF\�Z�]DZRG]LH�

QDXF]\FLHOVNLP��$XWRUND� VWZLHUG]D�� *H� QDXF]\FLHOH� F]VWR� FKRUXM���:LHOH� ]� W\FK�

FKRUyE�PD�FKDUDNWHU�SV\FKRVRPDW\F]Q\��%DUG]R�GX*R�RVyE�Z�W\P�]DZRG]LH�FLHUSL�

]�SRZRGX�QHUZLF��+��5\ONH�SLV]H��L*�FLHUSLHQLD�WH�]ZL�]DQH�V��]�RJyOQ\PL�WUXGQR�

�FLDPL�*\FLRZ\PL��]H�VSDGNLHP�RGSRUQR�FL�QD�VWUHV��WUXGQR�FLDPL�Z�UDG]HQLX�VRELH�

]�SUREOHPDPL�RVRELVW\PL��URG]LQQ\PL�L�V]NROQ\PL��1DXF]\FLHOH�F]XM��VL�]PF]HQL��

Z\F]HUSDQL��QLH�SRWUD¿��SR]E\ü�VL�QDSLFLD��X]\VNDü�VSRNRMX�L�GREUHJR�VDPRSR�

F]XFLD��3RQDGWR�DXWRUND�]ZUDFD�XZDJ�QD�WR��*H�Z\VRND�OLF]ED�]DEXU]H��]GURZRW�

Q\FK�L�]DFKRURZD��Z�QDMZLNV]\P�VWRSQLX�GRW\F]\�QDXF]\FLHOL�Z�ZLHNX��UHGQLP��

Z�QLHFR�PQLHMV]\P�QDXF]\FLHOL�PáRGV]\FK��D�Z�QDMPQLHMV]\P�±�VWDUV]\FK��NWyU]\�

PDM��Z\SUDFRZDQH�VSRVRE\�UDG]HQLD�VRELH�]�REFL�*HQLDPL��%DUG]R�SRGREQH�Z\QLNL�

Z�RGQLHVLHQLX�GR�SU]H*\ZDQLD�VWUHVX�]DZRGRZHJR�SU]H]�VG]LyZ�X]\VNDá�Z�VZ\FK�

EDGDQLDFK�%��+Rá\VW��%DUG]LHM�SU]H*\ZDOL�Z\QLNL� VZRMHM�SUDF\�VG]LRZLH�PáRG]L�

ZLHNLHP�L�VWD*HP��2QL�WDN*H�V\JQDOL]RZDOL�NáRSRW\�DGDSWDF\MQH�Z�PLHMVFX�SUDF\��

]JáDV]DOL�VNDUJL�QD�SRJDUV]DQLH�VL�VWDQX�]GURZLD�LWS���+Rá\VW��������

,VWRWQ\P�F]\QQLNLHP�VWUHVRJHQQ\P�MHVW�DNWXDOQ\�VWDQ�SUDZQR�RUJDQL]DF\MQ\�

Z�UHVRUFLH�R�ZLDW\��1DXF]\FLHOH�F]VWR�F]XM��VL�QLHGRFHQLHQL��RVWUR�NU\W\NRZDQL��

VNDU*��VL�QD�EUDN�V]DFXQNX�L�SUHVWL*X��

:������URNX�SU]HSURZDG]RQR�EDGDQLD�QDG�DNFHSWDFM��]DZRGX�SU]H]�QDXF]\�

FLHOL��%DGDQLDPL�REMWR�����QDXF]\FLHOL�SUDFXM�F\FK�Z�V]NRáDFK�SD�VWZRZ\FK������

RVRE\��L�QLHSD�VWZRZ\FK��������%DGDQL�QDXF]\FLHOH�RNUH�OLOL�VZyM�]DZyG��XZ]JOG�

QLDM�F�MHJR�ZDG\�L�]DOHW\��:�UyG�ZDG�Z\PLHQLOL�P�LQ��QLVNLH�]DURENL���EUDN�SRPRF\�

G\GDNW\F]Q\FK��QHUZRZ\�L�VLOQLH�VWUHVXM�F\�FKDUDNWHU�SUDF\��GX*��OLF]HEQR�ü�NODV��

KDáDV��]á��ZVSyáSUDF�]�URG]LFDPL��]�G\UHNFM��V]NRá\��SU]HPF]HQLH�L�RGSRZLHG]LDO�

QR�ü��F\W��]D��&]HUZL�VND��������

:DG\�WH�V��MHGQRF]H�QLH�VLOQ\PL�VWUHVRUDPL�SRZRGXM�F\PL��*H�W\ONR�QLHOLF]QL�

V��]DGRZROHQL�]H�VZRMHM�SUDF\��DNFHSWXM��VZyM�]DZyG�L�XPLHM��ZDOF]\ü�]H�VWUHVHP�

:� ����� U�� +�� 6N� EDGDáD� VXELHNW\ZQH� SRF]XFLH� REFL�*HQLD� VWUHVHP� ]DZR�

GRZ\P�X�����QDXF]\FLHOL��:�VZRLFK�ZQLRVNDFK�VWZLHUG]LáD��*H�QDMZ\*V]\�SR]LRP�

VWUHVX�RGF]XZDM��RQL�]�SRZRGX�QLVNLFK�]DURENyZ��QLHZVSyáPLHUQ\FK�GR�Z\VLáNX�

L�ZNáDGX�SUDF\�RUD]�QLVNLHJR�SUHVWL*X�VSRáHF]QHJR�LFK�]DZRGX��'R�VWUHVRUyZ�SRZR�

GXM�F\FK�]QDF]QH�REFL�*HQLH�SV\FKLF]QH�QDOH*��SRQDGWR�QLHZáD�FLZH�]DFKRZDQLD�

L�FHFK\�XF]QLyZ��SU]HáDGRZDQLH�WUH�FL�L�]PLHQLDQH�SURJUDP\�QDXF]DQLD��QDGPLHUQH�

L� VSU]HF]QH� Z\PDJDQLD� SU]HáR*RQ\FK�� V]W\ZQ\� V\VWHP� Z\PDJD�� L� RFHQ� SUDF\�

QDXF]\FLHOL��QLHNRU]\VWQH�ZDUXQNL�SUDF\��]E\W�OLF]HEQH�NODV\��EUDNL�DUFKLWHNWRQLF]QH�

V]NRá\��QLHGRVWDWHF]QH�Z\SRVD*DQLH�Z�SRPRFH�G\GDNW\F]QH�

���

=ELJQLHZ�0DUWHQ

=GDQLHP�DXWRUNL��Z�SRUyZQDQLX�]� URNLHP������Z�URNX������SR]LRP�VWUHVX�

X�QDXF]\FLHOL�Z\UD(QLH� VL�QDVLOLá�� D�JáyZQ\PL�VWUHVRUDPL�X�SROVNLFK�QDXF]\FLHOL�

V��� QLVNL� VWDWXV� HNRQRPLF]QR�VSRáHF]Q\�� EUDN� SUHVWL*X�� SU]HFL�*HQLH� SURJUDPyZ�

QDXF]DQLD��EUDNL�PDWHULDOQH�V]Nyá��SHáQH�QDSLü�L�U\ZDOL]DFML�VWRVXQNL�Z�]HVSRáDFK�

QDXF]\FLHOVNLFK��7XFKROVND��������������

+�� %HQLV]� ������� SLV]H�� *H� QDXF]\FLHOH� V�� QDGPLHUQLH� ]DSUDFRZDQL��1LH� V��

]DGRZROHQL� ]� Z\QDJURG]HQLD��0LPR� *H� SUDZLH� ZV]\VF\� VWDUDM�� VL� RGUHDJRZDü�

GR]QDZDQH�SU]\NUR�FL� L� SRZVWDM�FH� IUXVWUDFMH�� WR� MHGQDN� MHVW� WR�SU]\F]\Q�� NROHM�

Q\FK�VWUHVyZ�

=DVWDQDZLDM�F�VL�QDG�W\P��VN�G�ELHU]H�VL�X�QDXF]\FLHOL�WDN�RJURPQH�]PF]HQLH�

L�SU]HFL�*HQLH�ZFL�*�QDUDVWDM�F\PL�SUREOHPDPL��DXWRUND�VWZLHUG]D��L*�(UyGáHP�WHJR�

]PF]HQLD� QLH� MHVW� QDGPLDU� SUDF\�� DOH� QDGPLHUQ\� Z]URVW� QDSLFLD� ZHZQWU]QHJR��

1DSLFLH�WR�MHVW�Z\QLNLHP�WRZDU]\V]�FHJR�SUDF\�VWUHVX��:�SRGREQ\P�WRQLH�Z\SRZLD�

GDM��VL�WH*�LQQL�DXWRU]\��7XFKROVND��������������7DWDURZLF]��������1RZDN��������

8WUXGQLHQLD�Z�UHDOL]DFML�]DGD��]DZRGRZ\FK�SRZRGXM���*H�QLH�ZV]\VF\�QDXF]\�

FLHOH�SR�SHZQ\P�F]DVLH�DNFHSWXM��]DUyZQR�ZDUXQNL�SUDF\��MDN�L�Z�RJyOH�VZyM�]DZyG�

�3XVLHFNL��������

-HGQ\P�]�JáyZQ\FK�NLHUXQNyZ�EDGD��VWUHVX�]DZRGRZHJR�MHVW�SRV]XNLZDQLH�

NRUHODFML� SRPLG]\� SR]LRPHP� RGF]XZDQLD� VWUHVX� SU]H]� SUDFRZQLND� D� FHFKDPL�

MHJR�RVRERZR�FL��3U]\NáDGHP�WHJR�QXUWX�SRV]XNLZD��PR*H�E\ü�SXEOLNDFMD�0��.OL��

L�-��.RVVHZVNLHM��������

1XUW�GUXJL��WR�XMPRZDQLH�VWUHVX�MDNR�HOHPHQWX�IXQNFMRQRZDQLD�V]NRá\�SRMPR�

ZDQHM�MDNR�RUJDQL]DFMD��7HUPLQX�ÄRUJDQL]DFMD´�X*\ZDP�WX�Z�UR]XPLHQLX�SU]\MW\P�

ZH�ZVSyáF]HVQHM� WHRULL� RUJDQL]DFML� L� ]DU]�G]DQLD��6WUHV� MDNR�FHFKD� WRZDU]\V]�FD��

DWU\EXW� OXE� VNXWHN� IXQNFMRQRZDQLD� V]NRá\� MDNR� RUJDQL]DFML� DQDOL]RZDü� PR*QD�

Z�NDWHJRULDFK�Z*V]\FK�±�MDNR�VWUHV�]DZRGRZ\��V]HUV]\FK�±�MDNR�VWUHV�SUDF\�F]\�

MHV]F]H�V]HUV]\FK�±�MDNR�W]Z��VWUHV�RUJDQL]DFML��7R�RVWDWQLH�XMFLH�XZD*D�VL�REHFQLH�

]D�QDMEDUG]LHM�RGSRZLDGDM�FH�]áR*RQR�FL�SUREOHPX��.DOLV]��7ZDUyJ��������

6��7XFKROVND��������������Z�VZRLFK�EDGDQLDFK�GRW\F]�F\FK�SU]\F]\Q�L�RNR�

OLF]QR�FL�SU]H*\ZDQLD�VWUHVX�]DZRGRZHJR�SU]H]�QDXF]\FLHOL��SRGMáD�SUyE�]DVWRVR�

ZDQLD�DQDOL]\�F]\QQLNRZHM��7\P�VSRVREHP�GRSURZDG]LáD�GR�Z\RGUEQLHQLD�F]WH�

UHFK�SRGVWDZRZ\FK�Z\PLDUyZ�VWUHVX�Z�]DZRG]LH�QDXF]\FLHOVNLP��

&]\QQLN���±�QLHSUDZLGáRZH�]DFKRZDQLH�XF]QLyZ��6]F]HJyOQLH�]QDF]�FH�V��WX��

KDáD�OLZR�ü�XF]QLyZ��WUXGQH�NODV\��QLHJU]HF]QH�]DFKRZDQLH�XF]QLyZ��LFK�]XFKZD�

áR�ü��WUXGQR�FL�]�XWU]\PDQLHP�G\VF\SOLQ\��GX*D�OLF]HEQR�ü�XF]QLyZ�Z�RGG]LDOH��EUDN�

GRVWDWHF]QHJR�]DLQWHUHVRZDQLD�SUDF��V]NROQ��]H�VWURQ\�XF]QLyZ��OLF]QH�]DVWSVWZD�

&]\QQLN���±�SUHVMD�F]DVX�MDNR�(UyGáR�WUXGQR�FL��6]F]HJyOQLH�]QDF]�F\�MHVW�WX�

EUDN�F]DVX�QD� LQG\ZLGXDOQ��SUDF�]�G]LHüPL��(OH�RSUDFRZDQH�SRGUF]QLNL��EUDN�

RGSRZLHGQLHM�OLF]E\�SRPRF\�V]NROQ\FK��EUDN�RGSRZLHGQLHJR�VSU]WX�L�XU]�G]H��

XVSUDZQLDM�F\FK� SUDF�� ]E\W� OLF]QH� NODV\�� NRQLHF]QR�ü� Z\NRQ\ZDQLD� Uy*Q\FK�

SUDF�DGPLQLVWUDF\MQ\FK�

���

6WUHV�Z�SUDF\�QDXF]\FLHOD

&]\QQLN���±�SRWU]HED�VDW\VIDNFML�]DZRGRZHM�±�REHMPXMH�GRVWU]HJDQLH�PDá\FK�

V]DQV�QD�]URELHQLH�NDULHU\�]DZRGRZHM��QLHGRVWDWHF]Q��SáDF��EUDN�X]QDQLD�]D�GREU]H�Z\NRQDQ��SUDF�

&]\QQLN���±�QLHGRVWDWHF]QH�UHODFMH�NROH*H�VNLH�±�REHMPXM��SRVWDZ\�L�UHODFMH�Z�JURQLH�SHGDJRJLF]Q\P��QDFLVNL�]H�VWURQ\�G\UHNFML�E�G(� LQQ\FK�ZáDG]�R�ZLDWR�Z\FK��QDFLVNL�]H�VWURQ\�URG]LFyZ�E�G(�RSLHNXQyZ�XF]QLyZ�

$XWRUND�]EDGDáD�V\PSWRP\�L�VXELHNW\ZQ��RFHQ�SR]LRPX�VWUHVX�]DZRGRZHJR�QDXF]\FLHOL�V]Nyá�SRGVWDZRZ\FK��2WU]\PDQH�Z\QLNL�EDGD��ZáDVQ\FK�RGQLRVáD�GR�DQDORJLF]Q\FK�EDGD��SURZDG]RQ\FK�Z�86$�L�$QJOLL��1DVWSXM�FH�Z�ODWDFK�Sy(QLHM�V]\FK�OLF]QH�]PLDQ\�VWUXNWXUDOQH�Z�V]NROQLFWZLH�RUD]�Z]URVW�RF]HNLZD��]DZRGR�Z\FK�ZREHF�QDXF]\FLHOL�SU]\F]\QLá\�VL�GR�Z\UD(QHJR�QDVLOHQLD�GR�ZLDGF]DQHJR�SU]H]�QDXF]\FLHOL� VWUHVX��:\QLNL�EDGD�� SURZDG]RQ\FK�Z�UyG�QDXF]\FLHOL� DPHU\�ND�VNLFK�SURZDG]��GR�QLHPDO�DQDORJLF]Q\FK�ZQLRVNyZ��MDNLH�Sá\Q��]�EDGD��Z�NUD�MDFK�HXURSHMVNLFK��

:�3ROVFH�F]VWR�F\WRZDQH�V��Z\QLNL�EDGD��'DQLHOD�)RQWDQ\��:VND]XM��RQH�QD�VLOQ\�]ZL�]HN�SRPLG]\�QHXURW\]PHP�L�Z\VRNLP�SR]LRPHP�VWUHVX�X�QDXF]\�FLHOL�RUD]�SRPLG]\�LQWURZHUVM��L�VWUHVHP��:��URGRZLVNX�R�ZLHOX�]PLHQQ\FK��MDNLP�MHVW��URGRZLVNR�QDXF]DQLD��RJyOQD�WHQGHQFMD�GR�ONX�GRW\ND�WH�RVRE\��NWyUH�V��QDM�EDUG]LHM� SRGDWQH� QD� SV\FKLF]QH� ]UDQLHQLH�� 'OD� LQWURZHUW\NyZ� �URGRZLVNR� NODV\�V]NROQHM��VNáDGDM�FH�VL�]H�VSRáHF]QHM�LQWHUDNFML��DNW\ZQR�FL��FL�JáHM�]PLDQ\��KDáDVX�L�OLF]Q\FK�ERG(FyZ�MHVW�EDUG]LHM�VWUHVXM�FH�QL*�GOD�HNVWUDZHUW\NyZ��

'��)RQWDQD�±�DXWRU�FHQLRQHJR�X�QDV�SRGUF]QLND�SV\FKRORJLL�GOD�QDXF]\FLHOL�±�SLV]H�WDN*H��*H�QDXF]\FLHOH�EH]�SU]HUZ\�VSRW\NDM��VL�]�ZLHORPD�Z\PDJDQLDPL�]H� VWURQ\� G]LHFL�� NROHJyZ�� URG]LFyZ�� SROLW\NyZ� L� XU]GQLNyZ�� ZLHOH� ]D�� ]� W\FK�Z\PDJD��SR]RVWDMH�]H�VRE��Z�VSU]HF]QR�FL��D�QLHNWyU\P�ZUF]�QLH�VSRVyE�SRGRáDü��1DXF]\FLHOH�EH]�SU]HUZ\�PXV]��XWU]\P\ZDü�NRQWURO�Z�NODVLH��1LH�PDM�� OLPLWR�ZDQHJR�F]DVX�SUDF\��:LHOH�SUDF�PXV]��]DELHUDü�]H�VRE��GR�GRPX��QLH�PRJ�F�VL�MHM�SR]E\ü�ZUD]�]�NR�FHP�GQLD� �)RQWDQD���������3RGREQH�XZDJL�� MDN*H�DNWXDOQH�L�Z�QDV]\FK�URG]LP\FK�ZDUXQNDFK��]DZLHUDM��SUDFH�LQQ\FK�DXWRUyZ�]DJUDQLF]Q\FK��SRU��QS��*DJH��%HUOLQHU��������.UHWVFKPDQQ��������3DXOLN��������

.DWHGUD� 3V\FKRORJLL� QD� :\G]LDOH� 3HGDJRJLNL� 8QLZHUV\WHWX� LP�� 0DVDU\ND�

Z�%UQLH��NLHURZDQD�SU]H]�(YåHQD��HKXON��RUJDQL]XMH�RG������URNX�F\NOLF]QH�NRQ�IHUHQFMH�QDXNRZH�SR�ZLFRQH�SUREOHPDW\FH�]GURZLD�QDXF]\FLHOVNLHJR��2G������U��NRQIHUHQFMH� WH�PDM�� FKDUDNWHU�PLG]\QDURGRZ\�� D�PDWHULDO\� SRNRQIHUHQF\MQH� RG�URNX������GUXNRZDQH�V��Z�M]\NX�DQJLHOVNLP���HKXOND���HKXONRYD���������������������������HKXOND��������������

1LHNWyUH� ]� EDGD�� GRW\F]\á\� V\QGURPX� Z\SDOHQLD� ]DZRGRZHJR� Z�UyG�QDXF]\FLHOL�

0��1RZDN��������SU]HGVWDZLD�QDMZD*QLHMV]H�V\PSWRP\�V\QGURPX�Z\SDOHQLD�]DZRGRZHJR��=DOLF]D�GR�QLFK�P�LQ���FKURQLF]QH�]PF]HQLH��]DEXU]HQLD�VQX��SUR�EOHP\�]�]DV\SLDQLHP��SU]HGZF]HVQH�EXG]HQLH�VL���EyOH�PL�QL��NáRSRW\�*Rá�GNRZH��

���

=ELJQLHZ�0DUWHQ

Z]PR*RQ��PF]OLZR�ü��]DEXU]HQLD�SDPLFL��QLHPR*QR�ü�ORJLF]QHJR�P\�OHQLD��QLH�

VWDELOQR�ü�L�FKZLHMQR�ü�HPRFMRQDOQ��L�ZUHV]FLH�XWUDW�HQHUJLL�*\FLRZHM�

6NXWNL� Z\SDOHQLD� ]DZRGRZHJR� QDXF]\FLHOL� PDM�� V]F]HJyOQH� ]QDF]HQLH��

GRW\F]��ERZLHP�QLH�W\ONR�GRWNQLW\FK�Z\SDOHQLHP�QDXF]\FLHOL��OHF]�UyZQLH*�QLHNR�

U]\VWQLH�RGG]LDáXM��QD�G]LHFL�L�PáRG]LH*�SR]RVWDM�F��Z�NRQWDNWDFK�]�W\PL�QDXF]\FLH�

ODPL��%LRU�F�SRG�XZDJ�IDNW��*H�Z\FKRZDQNRZLH�L�XF]QLRZLH�SR]RVWDM��Z�ID]LH�UR]�

ZRMX�SV\FKLF]QHJR�L�NV]WDáWRZDQLD�VL�]áR*RQ\FK�VWUXNWXU�RVRERZR�FL��QDXF]\FLHO�

GRWNQLW\�]HVSRáHP�Z\SDOHQLD�]DZRGRZHJR�PR*H�RGHJUDü�QHJDW\ZQ��URO�Z�W\P�

UR]ZRMX��PR*H�WDN*H�VWDQRZLü�QHJDW\ZQ\�Z]RU]HF�GOD�NV]WDáWXM�FHM�VL�RVRERZR�FL��

'ODWHJR� SRV]XNLZDQLH� ZV]HONLFK� XZDUXQNRZD�� ]HVSRáX� Z\SDOHQLD� ]DZRGRZHJR�

X�QDXF]\FLHOL�Z\GDMH�VL�ZD*Q\P�VSRáHF]QLH�]DGDQLHP��&KU]DQRZVND��������

$��2OHFK��������SLV]H��L*�Z\SDOHQLH�]DZRGRZH�WR�QLHNRU]\VWQ\�VWDQ�XSR�OH�

G]DM�F\�QLH�W\ONR�]DZRGRZH�IXQNFMRQRZDQLH�F]áRZLHND��DOH�WDN*H�IXQNFMRQRZDQLH�

Z�LQQ\FK�V\WXDFMDFK�*\FLRZ\FK��=DZyG�QDXF]\FLHOD�WR�WHQ�W\S�SURIHVML��Z�NWyU\P�

EOLVNL�NRQWDNW�LQWHUSHUVRQDOQ\��ZL�*�F\�VL�]�SURFHVDPL�]DDQJD*RZDQLD�L�Z\PLDQ\�

HPRFMRQDOQHM��RGJU\ZD�JáyZQ��URO��D�WR�VSU]\MD�Z\VRNLHM�HNVSORDWDFML�RGSRUQR�FL�

SV\FKLF]QHM��

=HVSyá�Z\SDOHQLD�]DZRGRZHJR�FKDUDNWHU\]XM��WU]\�MHJR�SRGVWDZRZH�FHFK\�

���Z\F]HUSDQLH�HPRFMRQDOQH�L�SV\FKR¿]\F]QH�SRMDZLDM�FH�VL�QD�VNXWHN�

SV\FKLF]QHJR�SU]HPF]HQLD�OXE�SU]HFL�*HQLD�LQWHQV\ZQR�FL��NRQWDNWyZ�

LQWHUSHUVRQDOQ\FK�

���GHSHUVRQDOL]DFMD�±�FR�R]QDF]D�VWDZDQLH�VL�RERMWQ\P�Z�UHDJRZDQLX�QD�

XF]QLyZ��GR�NODV\F]Q\FK�WHFKQLN�QDOH*���QDGDZDQLH�XF]QLRP�ÄHW\NLHW´���SU]HG�

PLRWRZH�WUDNWRZDQLH�LFK��VWHUHRW\SRZH�]DFKRZDQLD�LQWHUSHUVRQDOQH�

���SRF]XFLH�REQL*HQLD�RVRELVWHM�DGHNZDWQR�FL��FR�SURZDG]L�GR�REQL*HQLD�

OXE�XWUDW\�VDW\VIDNFML�L�]DDQJD*RZDQLD�]DZRGRZHJR��SRMDZLD�VL�UR]F]DURZDQLH�

L�SRF]XFLH�QLHSRZRG]HQLD�]DZRGRZHJR�RUD]�REZLQLDQLH�VLHELH�]D�EUDN�XPLHMW�

QR�FL�SUDF\�]�XF]QLDPL�

3LHUZV]\�VWRSLH��MHVW�VZHJR�URG]DMX�VWDGLXP�RVWU]HJDZF]\P��Z�NWyU\P�SRMD�

ZLDM�� VL� QLHXVWSXM�FH� REMDZ\� SU]H]LELHQLD�� EyO� JáRZ\�� EH]VHQQR�ü�� XF]XFLH�

LU\WDFML�

'UXJL�VWRSLH��SRMDZLD�VL�ZWHG\��JG\�V\QGURP�MHVW�EDUG]LHM�VWDá\�L�WUZD�GáX*HM��

D� FKDUDNWHU\VW\F]QH� REMDZ\� WR� Z\EXFK\� LU\WDFML�� SRJDUGOLZH� RGQRV]HQLH� VL� GR�

LQQ\FK��JRUV]H�Z\NRQ\ZDQLH�]DGD��]DZRGRZ\FK�

7U]HFL�VWRSLH��Z\VWSXMH�ZWHG\��JG\�V\QGURP�VWDMH�VL�FKURQLF]Q\��UR]ZLMDM��

VL�REMDZ\�¿]\F]QH��SV\FKLF]QH�L�SV\FKRVRPDW\F]QH�±�MHVW�WR�VZRLVWH�GOD�]HVSRáX�

Z\SDOHQLD�]DZRGRZHJR��.UD�FRZH�Z\SDOHQLH�VL��SURZDG]�FH�Z�QLHNWyU\FK�Z\SDG�

NDFK�GR�SRZD*QHM�GHSUHVML��PR*H�SRFL�JDü�]D�VRE��NRQLHF]QR�ü�]PLDQ\�SUDF\�

7��*UDG��������������V\JQDOL]RZDá�SUREOHP�VWUHVX�]DZRGRZHJR�QDXF]\FLHOL�

Z�XMFLX�V\QGURPX�Z\SDOHQLD�]DZRGRZHJR��D�WR�ZV]\VWNR�RVDG]Dá�Z�V]HURNLHM�SUR�

EOHPDW\FH�VWUHVX�RUJDQL]DF\MQHJR��

���

6WUHV�Z�SUDF\�QDXF]\FLHOD

:� OLWHUDWXU]H� SV\FKRORJLF]QHM� ]MDZLVNR� Z\SDOHQLD� ]DZRGRZHJR� RSLV\ZDQH�

MHVW�V]HURNR�RG�SRáRZ\�ODW�VLHGHPG]LHVL�W\FK��:�SROVNLHM�OLWHUDWXU]H�SHGDJRJLF]QR��

SV\FKRORJLF]QHM� SLHUZV]H�RSLV\�SRMDZLá\� VL�Z� ODWDFK�G]LHZLüG]LHVL�W\FK� �.OL���

.RVVHZVND��������/LEHUD��������

7DN�VDPR�RG�QLHGDZQD�SRGHMPXMHP\�QD�V]HUV]��VNDO�EDGDQLD�SUREOHPDW\NL�

XSUDZLDQLD�]DZRGX�QDXF]\FLHOVNLHJR�L�SUDF\�SHGDJRJLF]QHM�Z�IRUPDFK�SR]DV]NRO�

Q\FK��3UREOHPRP� W\P�]DF]\QDP\�SR�ZLFDü�SUDFH�DZDQVRZH�VWXGHQWyZ�QD� VWX�

GLDFK�]DZRGRZ\FK��PDJLVWHUVNLFK�L�SRG\SORPRZ\FK��2WR�NLOND�SU]\NáDGyZ�

:�QDSLVDQHM�SRG�PRLP�NLHUXQNLHP�SUDF\�G\SORPRZHM�.��&]HUZL�VND��������

UHIHUXMH�SU]HSURZDG]RQH�SU]H]�VLHELH�EDGDQLD�QDXF]\FLHOL�V]Nyá�ZLHMVNLFK�L�PLHM�

VNLFK��%DGDQ\PL�E\OL�]DUyZQR�SUDFRZQLF\�V]Ny� MDN�L�SU]HGV]NROD��5HVSRQGHQFL�

RSLVDOL�]DNUHV�L�URG]DM�V\WXDFML�VWUHVRZ\FK�QDMF]�FLHM�Z\VWSXM�F\FK�Z�LFK�SUDF\��

1DMF]VWV]��SU]\F]\Q��VWUHVX�MHVW�PLHMVFH�SUDF\�L�SHáQLRQD�IXQNFMD��,QQ��UyZQLH�

LVWRWQ��SU]\F]\Q��MHVW�NRQVWUXNFMD�SV\FKLF]QD��RVRERZR�ü�F]áRZLHND��

'OD�ZLNV]R�FL�QDXF]\FLHOL�SUDFXM�F\FK�Z�V]NRáDFK�ZLHMVNLFK�VWUHV�WR�SU]HGH�

ZV]\VWNLP�UHDNFMD�RUJDQL]PX�QD�ZV]HONLHJR�URG]DMX�WUXGQR�FL��SU]HFLZQR�FL�ORVX��

]�MDNLPL�VSRW\NDP\�VL�Z�*\FLX��3U]\F]\Q��MHVW�NRQVWUXNFMD�SV\FKLF]QD��RVRERZR�ü�

F]áRZLHND���:�SU]\SDGNX�]DZRGX�QDXF]\FLHOD�LVWQLHMH�SHZQH�SRZL�]DQLH�SRPLG]\�

RELHPD�RGSRZLHG]LDPL��=DZyG�WHQ�Z\PDJD��E\�F]áRZLHN�FKDUDNWHU\]RZDá�VL�VZR�

LVW\PL�FHFKDPL��SRVLDGDá�ERJDW��L�HODVW\F]Q��RVRERZR�ü��%H]�WHJR�PLHMVFH�SUDF\��

MDNLP�Z� W\P� SU]\SDGNX� MHVW� V]NRáD� RUD]� SHáQLRQD� IXQNFMD�� QDXF]\FLHO� ±�Z\FKR�

ZDZFD�±�RSLHNXQ�PRJ��E\ü�SU]\F]\Q��VWUHVX�

8�ZLNV]R�FL� QDXF]\FLHOL� V]NRá\�ZLHMVNLHM� REMDZDPL� VWUHVX� V��� RJyOQ\� QLH�

SRNyM�� WUXGQR�FL�Z� NRQFHQWUDFML� XZDJL� RUD]� NáRSRW\� ]H� VQHP�� ,QQH�ZHGáXJ� QLFK�

ZD*QH�REMDZ\�WR��NRáDWDQLH�VHUFD��]PLHQQR�ü�QDVWURMX��SáDF]OLZR�ü�RUD]�]DPNQLFLH�

Z�VRELH��QLHSUDZLGáRZH�IXQNFMRQRZDQLH�QDXF]\FLHOD�Z�MHJR�SUDF\�]DZRGRZHM�

1DMZLNV]\PL�(UyGáDPL�VWUHVX�V���EUDN�ZVSyáSUDF\�Z�JURQLH�QDXF]\FLHOVNLP��

UHODFMH� PLG]\� QDXF]\FLHODPL�� QDXF]\FLHODPL� D� ZáDG]DPL� ]ZLHU]FKQLPL�� EUDN�

HPSDWLL��]UR]XPLHQLD�L�ZVSDUFLD�]H�VWURQ\�LQQ\FK�QDXF]\FLHOL��Z\PDJDQLD�VWDZLDQH�

QDXF]\FLHORP�]H�VWURQ\�G]LHFL��NROHJyZ�]�SUDF\��URG]LFyZ��SROLW\NyZ�L�XU]GQLNyZ�

RUD]�QLHGRVWDWHF]QH�Z\QDJURG]HQLH��

3RGREQLH�SUDZLH�ZV]\VF\�EDGDQL�QDXF]\FLHOH�V]Nyá�PLHMVNLFK�RGELHUDM��VWUHV�

MDNR�UHDNFM�RUJDQL]PX�QD�ZV]HONLHJR�URG]DMX�REFL�*HQLD��SU]HV]NRG\��NWyUH�V��QLH�

RGá�F]Q��FHFK��*\FLD�RVRELVWHJR��]DZRGRZHJR��

'OD�ZLNV]R�FL�EDGDQ\FK�QDXF]\FLHOL�]DWUXGQLRQ\FK�Z�PLHMVNLFK�SODFyZNDFK�

R�ZLDWRZ\FK�]DZyG�WHQ�MHVW��UHGQLR�VWUHVXM�F\��1LHOLF]QL�XZD*DM��JR�]D�OHNNR�VWUH�

VXM�F\�E�G(�EDUG]R�PRFQR�VWUHVXM�F\��

7HUPLQ�ÄVWUHV�QDXF]\FLHOVNL´�R]QDF]D�GOD�QLFK�RGG]LDá\ZDQLH�ZLHOX�F]\QQLNyZ�

QD�OLQLL��QDXF]\FLHO�±�XF]H��±�URG]LF��7R�UHDNFMD�RUJDQL]PX�QD�ZV]HONLHJR�URG]DMX�

WUXGQR�FL��XMDZQLDM�FH�VL�]DUyZQR�Z�SUDF\��MDN�L�SR]D�QL���'OD�QDXF]\FLHOL�SUDFX�

M�F\FK�Z�PLH�FLH�VWUHV�]ZL�]DQ\�]�Z\NRQ\ZDQLHP�WHJR�]DZRGX�WR�EUDN�SRF]XFLD�

���

=ELJQLHZ�0DUWHQ

EH]SLHF]H�VWZD�Z�SUDF\�L�FL�JáD�RGSRZLHG]LDOQR�ü�]D�ZV]\VWNR�L�ZV]\VWNLFK��'R�

WHJR�GRFKRG]L�MHV]F]H�FL�JáD�NRQWUROD�]H�VWURQ\�ZáDG]��QLHXIQR�ü�URG]LFyZ�RUD]�QLH�

XVWDQQD�RFHQD�GRNRQ\ZDQD�SU]H]�LQQ\FK��']LVLHMV]D�U]HF]\ZLVWR�ü�]PXV]D�QDXF]\�

FLHOL�GR�]ZUyFHQLD�XZDJL�QD�EUDN�SRF]XFLD�EH]SLHF]H�VWZD�]DZRGRZHJR�L�¿QDQVR�

ZHJR��EUDN�XPRZ\�QD�F]DV�QLHRNUH�ORQ\��QLVNLH�]DURENL���NRQLHF]QR�ü�FRG]LHQQHJR�

SU]\JRWRZ\ZDQLD�VL�GR�SUDF\�RUD]�QLHXVWDQQHJR�GRVNRQDOHQLD�VL��NWyUH�Z�G]LVLHM�

V]\FK�F]DVDFK�NRMDU]\�VL�EDUG]LHM�]�NRQLHF]QR�FL��SRVLDGDQLD�GRNXPHQWX��DQL*HOL�

]�ZHZQWU]Q��SRWU]HE��GRVNRQDOHQLD�VLHELH�L�VZRLFK�XPLHMWQR�FL�

'OD�SUDZLH�ZV]\VWNLFK�EDGDQ\FK�QDXF]\FLHOL�SUDFXM�F\FK�Z�PLH�FLH�QDMF]VW�

V]\P�REMDZHP�VWUHVX�Z�LFK�SUDF\�]DZRGRZHM�MHVW�SRF]XFLH�Z\F]HUSDQLD�L�VIUXVWUR�

ZDQLD��,QQH�UyZQLH�]QDF]�FH�REMDZ\�WR��GHSUHV\MQR�ü��QHUZRZR�ü��REQL*RQD�VSUDZ�

QR�ü�]DZRGRZD��EH]UDGQR�ü�RUD]�EyOH�JáRZ\��6��WR�SU]HGH�ZV]\VWNLP�G\VIXQNFMH�

SV\FKLF]QH��NWyUH�SU]\�GáX*V]\P�WUZDQLX�]DEXU]DM��L�GH]RUJDQL]XM��SUDF�]DZRGRZ��

QDXF]\FLHOD��3RQDGWR�QDXF]\FLHOH�FL�]ZUyFLOL�XZDJ�QD�EH]UDGQR�ü��]�MDN��Z�G]LVLHM�

V]\FK�F]DVDFK�ERU\ND�VL�FK\ED�ND*G\�QDXF]\FLHO��-HVW�WR�EH]UDGQR�ü�ZREHF�RJURPX�

RF]HNLZD���MDNLP�SRGOHJDM���2F]HNLZD��]DUyZQR�]H�VWURQ\�URG]LFyZ��XF]QLyZ��MDN�

WH*�]H�VWURQ\�G\UHNFML�L�ZáDG]�R�ZLDWRZ\FK�

1DMZLNV]\P�(UyGáHP�VWUHVX� MHVW� OLF]HEQR�ü�NODV�RUD]� VWRVXQHN�XF]QLyZ�GR�

QDXF]\FLHOD��,QQH�ZVND]DQH�(UyGáD�WR��]DFKRZDQLH�XF]QLyZ�QD�WHUHQLH�V]NRá\��KDáD�

�OLZR�ü�� RUD]� UHODFMH� PLG]\� QDXF]\FLHODPL� D� ZáDG]DPL� ]ZLHU]FKQLPL�� 1DXF]\�

FLHOH�FL�]ZUyFLOL�SU]HGH�ZV]\VWNLP�XZDJ�QD�ZDUXQNL�SUDF\��=E\W�GX*D�OLF]HEQR�ü�

NODV� QLH� VSU]\MD� QDZL�]\ZDQLX� ZáD�FLZ\FK� VWRVXQNyZ� SRPLG]\� QDXF]\FLHODPL�

L�XF]QLDPL��=áH�UHODFMH�QDXF]\FLHO�±�XF]H��V��U]HF]\ZLVW\P�(UyGáHP�VWUHVX�QLH�W\ONR�

GOD�QDXF]\FLHOL��DOH�WDN*H�GOD�XF]QLyZ��=�WHJR�PR*H�Z\QLNDü�QLHZáD�FLZ\�VWRVXQHN�

XF]QLyZ�GR�QDXF]\FLHOD��NWyU]\�QLH�PDM�F�]E\W�GX*HJR��EH]SR�UHGQLHJR�NRQWDNWX�

]�QLP��]DF]\QDM��JR�SR�SURVWX�OHNFHZD*\ü�

'áXJR�XWU]\PXM�FH�VL�]áH�UHODFMH�QDXF]\FLHO�±�XF]H��SRZRGXM��X�ZLNV]R�FL�

QDXF]\FLHOL�VWUHV��7HQ�]D��Z�SRá�F]HQLX�]�LQQ\PL�F]\QQLNDPL�QLHNRU]\VWQLH�ZSá\�

ZDM�F\PL� QD� SUDF� ]DZRGRZ�� QDXF]\FLHOD� PR*H� GRSURZDG]Lü� GR� ÄZ\SDOHQLD�

]DZRGRZHJR´�

2SLQLH� QDXF]\FLHOL� SUDFXM�F\FK�Z� V]NRáDFK�ZLHMVNLFK� L� PLHMVNLFK� QD� WHPDW�

VWUHVX�Z�]DZRG]LH�QDXF]\FLHOD�QLH�ZVND]XM��QD�GX*H�]Uy*QLFRZDQLH��DOH�]Uy*QLFR�

ZDQH�RSLQLH�X]\VNDQR�Z�]ZL�]NX�]�S\WDQLHP�GRW\F]�F\P�(UyGHá�VWUHVX�QDXF]\FLHO�

VNLHJR��2Wy*�]GDQLHP�QDXF]\FLHOL�V]Nyá�ZLHMVNLFK��QDMZLNV]H�(UyGáD�VWUHVX�WNZL��

Z�NRQWDNWDFK�PLG]\OXG]NLFK��EUDN�ZVSyáSUDF\�Z�UyG�QDXF]\FLHOL��UHODFMH�PLG]\�

QDXF]\FLHODPL� D� ZáDG]DPL� ]ZLHU]FKQLPL�� Z\PDJDQLD� VWDZLDQH� QDXF]\FLHORP� ]H�

VWURQ\�G]LHFL�� URG]LFyZ�� LQQ\FK�QDXF]\FLHOL��SROLW\NyZ� L�XU]GQLNyZ�� ,QQH�VWDQR�

ZLVNR�Z\UD]LOL�QDXF]\FLHOH�SUDFXM�F\�Z�PLHMVNLFK�SODFyZNDFK�R�ZLDWRZ\FK�� ,FK�

]GDQLHP�SRZD*Q\P�(UyGáHP�VWUHVX�QDXF]\FLHOVNLHJR�V��QLHNRU]\VWQH�ZDUXQNL�ORND�

ORZH�RUD]�]DFKRZDQLH�XF]QLyZ�QD�WHUHQLH�V]NRá\��KDáD�OLZR�ü���

���

6WUHV�Z�SUDF\�QDXF]\FLHOD

:� EDGDQLDFK� (�� 7DOHU� ������� XVWDORQR�� *H� QDMEDUG]LHM� VWUHVXM�F\P� F]\QQL�

NLHP�Z�SUDF\�]DZRGRZHM�GOD�EDGDQ\FK�QDXF]\FLHOL�V��XF]QLRZLH��LFK�]DFKRZDQLH��

SRVWDZD� ZREHF� V]NRá\�� QDXNL� L� QDXF]\FLHOL��� D� QDVWSQLH�� QLVNLH� ]DURENL�� OHNFMH�

SRND]RZH��]áD�DWPRVIHUD�Z�PLHMVFX�SUDF\��EUDN�V]DQV�QD�DZDQV�

1DMPQLHM�VWUHVXM�FD�RND]DáD�VL�NRQLHF]QR�ü�NRU]\VWDQLD�]�ED]\�WHFKQLF]QHM�±�

QDXF]\FLHOH�F]XM��VL�GREU]H�SU]\JRWRZDQL�GR�NRU]\VWDQLD�]�WHFKQLF]Q\FK��URGNyZ�

QDXF]DQLD�

=GDQLHP� DXWRUNL�� Z\QLNL� MHM� EDGD�� SRNU\ZDM�� VL� ]� LQIRUPDFMDPL� QD� WHPDW�

(UyGHá�VWUHVX�Z�SUDF\�]DZRGRZHM�QDXF]\FLHOL��]DF]HUSQLW\PL�]�OLWHUDWXU\�SHGDJR�

JLF]QHM�L�SV\FKRORJLF]QHM��7R��*H�XF]QLRZLH�VWDQRZL��JáyZQH�(UyGáR�VWUHVX�GOD�ZLHOX�

QDXF]\FLHOL��QLH�SRZLQQR�QLNRJR�G]LZLü�Z�G]LVLHMV]\FK�F]DVDFK��=E\W�OLF]QH�NODV\��

QLHSRVáXV]H�VWZR�XF]QLyZ��EUDN�NXOWXU\�RVRELVWHM�SRZRGXM���*H�QDXF]\FLHOH�]QLH�

FKFDM��VL�GR�SUDF\��D�LFK�HIHNW\ZQR�ü�]DZRGRZD�REQL*D�VL��

7�V\WXDFM�SRJDUV]DM���VWDQ�]DURENyZ�QDXF]\FLHOL��PR*OLZR�FL�]DURENRZH�V��

FRUD]�PQLHMV]H���RERZL�]HN�SU]HSURZDG]DQLD�OHNFML�NROH*H�VNLFK��KRVSLWDFMH��QLNáH�

V]DQVH�QD�DZDQV�

:� VZRMHM� SUDF\� PDJLVWHUVNLHM�:�� .XELN� ������� SU]HGVWDZLá� Z\QLNL� EDGD��

VWUHVX�]DZRGRZHJR�X�QDXF]\FLHOL�V]Nyá�JLPQD]MDOQ\FK��&R�GUXJL�QDXF]\FLHO�WZLHU�

G]L�*H�GR]QDMH�Z�SUDF\�VWUHVX�F]VWR�OXE�ZUF]�]DZV]H��7\ONR��������EDGDQ\FK�

WZLHUG]LáR��*H�VWUHV�]DZRGRZ\�QLH�VWDQRZL�GOD�QLFK�*DGQHJR�SUREOHPX��$*��������

UHVSRQGHQWyZ�QLH�RGF]XZDáR� VWDELOQR�FL� ]DZRGRZHM�� D�GDOV]H������GHNODURZDáR�

QLHSHZQR�ü�FR�GR�VZRMHM�GDOV]HM�NDULHU\�Z�SUDF\�QDXF]\FLHOD�

3UREOHPDW\ND�VWUHVX�]DZRGRZHJR�QDXF]\FLHOL�QLH�PD�MHV]F]H�Z�3ROVFH�GRVWD�

WHF]QHM�OLF]E\�ZHU\¿NDFML�HPSLU\F]Q\FK��'ODWHJR�WH*�VWDáD�VL�MHGQ\P�]�NLHUXQNyZ�

EDGD�� QDXNRZ\FK� SRGMW\FK� Z� QDV]HM� XF]HOQL�� =DJDGQLHQLD� VWUHVX� ]DZRGRZHJR�

PRJ�� �L� SRZLQQ\�� E\ü� UHDOL]RZDQH� ]DUyZQR� ]� SXQNWX�ZLG]HQLD� SV\FKRORJLL�� MDN�

L�QDXN�R�]DU]�G]DQLX��:áD�QLH�Z�REV]DU]H�QDXN�R�]DU]�G]DQLX�SRZVWDá\�]QDNRPLWH�

RSUDFRZDQLD�]DJDGQLHQLD�QD]ZDQHJR�VWUHVHP�RUJDQL]DFML��:�LFK�]DNUHV�ZFKRG]��±�

R�F]\P�MX*�Z\*HM�QDSRPNQ�áHP�±�]DJDGQLHQLD�VWUHVX�]DZRGRZHJR�L�VWUHVX�SUDF\�

:DUWR�MHV]F]H�]ZUyFLü�XZDJ��*H�Z�]DVDG]LH�FDáR�ü�GRW\FKF]DVRZHJR�GRURENX�

QDXNRZHJR�Z�REV]DU]H�VWUHVX�]DZRGRZHJR�QDXF]\FLHOL�SR�ZLFRQD� MHVW�VWUHVRZL�

QHJDW\ZQHPX�±�G\VWUHVRZL��MDN�JR�RNUH�ODá�+��6HO\H��6WUHV�SR]\W\ZQ\�±�HXVWUHV�±�

MHVW�QDWRPLDVW�]DNZDOL¿NRZDQ\�MDNE\�GR�LQQHM�JUXS\�WHPDW\F]QHM��*G\E\�EDGDQLRP�

W\P�GRSLV\ZDü�VáRZD�NOXF]RZH��WR�]QDOD]á\E\�VL� WDP��VDW\VIDNFMD��]DGRZROHQLH��

VXNFHV�]DZRGRZ\��DXWRNUHDFMD«

7DNLH�EDGDQLD�V���L�RZV]HP��SURZDG]RQH��$OH�DE\�RFHQLü��QD�LOH�V��RQH�UHDOL�

]RZDQH�Z�WHUPLQRORJLL�WHRULL�VWUHVX��QDOH*DáRE\�SRGM�ü�RGUEQH�EDGDQLD��,�QDSLVDü�

RGUEQH�WHPDWX�WHJR�RSUDFRZDQLH�

���

=ELJQLHZ�0DUWHQ

6800$5<

5VTGUU�KP�VGCEJGTIU�YQTM

7KH� VWXG\� LV�D� UHYLHZ�RI� WKH�PRVW� LPSRUWDQW�SXEOLFDWLRQV� LQ�3ROLVK�SHGDJR�

JLF�DQG�SV\FKRORJLFDO� OLWHUDWXUH�FRQFHUQLQJ� WKH� LVVXH�RI�VWUHVV� LQ� WHDFKHU¶V�ZRUN��

,W�GHVFULEHV� WKH�UHVXOWV�RI�PRVW�UHSUHVHQWDWLYH�3ROLVK�UHVHDUFKHV��7KH�DXWKRU�DOVR�

SUHVHQWV�UHVXOWV�RI�UHVHDUFKHV�PDGH�XQGHU�KLV�VXSHUYLVLRQ�DQG�JLYHV�D�GUDIW�RI�KLV�

RZQ�VXUYH\V�

%LEOLRJUDÀD�

%HQLV]�+������ 6WUHV�Z�]DZRG]LH�QDXF]\FLHOD�L�SRGVWDZRZH�]DVDG\�]GURZHJR�

*\FLD��Ä:\FKRZDQLH�)L]\F]QH�L�=GURZRWQH´����������

%RUJ�0�*���5LGLQJ�5�-������ 2FFXSDWLRQDO�VWUHVV�DQG�VDWLVIDFWLRQ�LQ�WHDFKLQJ��

��%ULWLVK�(GXFDWLRQDO�5HVHDUFK�-RXUQDO´�������QU���

&KU]DQRZVND�,������ :\SDOHQLH�]DZRGRZH�QDXF]\FLHOL�D�RFHQLDQLH�RVL�JQLü�

V]NROQ\FK�XF]QLyZ�XSR�OHG]RQ\FK�XP\VáRZR�Z�VWRSQLX�OHNNLP�L�XF]QLyZ�

R�SUDZLGáRZ\P�UR]ZRMX�QD�HWDSLH�V]NRá\�SRGVWDZRZHM��:\GDZQLFWZR�8QL�

ZHUV\WHWX�àyG]NLHJR��àyG(�������&ROH�0���:DONHU�6�,���HGV������ 7HDFKLQJ�DQG�VWUHVV��3KLODGHOSKLD��0LOWRQ�

.H\QHV��2SHQ�8QLYHUVLW\�3UHVV������

&]HUZL�VND�.������ 6WUHV�Z�SUDF\�]DZRGRZHM�QDXF]\FLHOD��$QDOL]D�SRUyZQDZF]D�

RSDUFLX�R�RSLQLH�QDXF]\FLHOL�V]Nyá�ZLHMVNLFK�L�PLHMVNLFK��3RG\SORPRZH�

6WXGLXP�2OLJRIUHQRSHGDJRJLNL��8QLZHUV\WHW��O�VNL�)LOLD�Z�&LHV]\QLH��������SUDFD�G\SORPRZD�QDSLVDQD�SRG�NLHUXQNLHP�=��0DUWHQD�±�QLHSXEOLNRZDQD��

)RQWDQD�'������ 3V\FKRORJLD�GOD�QDXF]\FLHOL��=\VN�L�6��ND��3R]QD�������*DJH�1�/���%HUOLQHU�'�&������ (GXFDWLRQDO�3V\FKRORJ\��%RVWRQ�/RQGRQ�0HOER�

XUQH�������+RXJKWRQ�0LIÀLQ�&RPSDQ\�

*DZOLN�6������ =DGRZROHQLH�]DZRGRZH�QDXF]\FLHOD��UHIHUDW�QD�.RQIHUHQFML�

1DXNRZHM�Ä.V]WDáFHQLH�]DZRGRZH�QDXF]\FLHOL�F]\QQ\FK�]DZRGRZR´��

0\VáRZLFH����������������*:63��

*UDG�7������ 6WUHV�RUJDQL]DF\MQ\�L�V\QGURP�Z\SDOHQLD�VL��Ä)RUXP�1DXF]\FLHOL´�

������QU���

*UDG�7������� 6WUHV�RUJDQL]DF\MQ\�L�V\QGURP�Z\SDOHQLD�VL�]DZRGRZHJR�Z�SUDF\�

QDXF]\FLHOD��Ä1DXF]\FLHO�L�6]NRáD´�������QU�����

*U]HJRU]HZVND�0�.������� 6WUHV�Z�SUDF\�QDXF]\FLHOD��Ä.XULHU�3HGDJRJLF]Q\´�

JUXG]LH�������+Rá\VW�%������� 3V\FKRORJLD�NU\PLQDOLVW\F]QD��/H[LV1H[LV��:DUV]DZD������

���

6WUHV�Z�SUDF\�QDXF]\FLHOD

-RGáRZVND�%�������� 6WDUW�±�V]RN�]DZRGRZ\�±�WZyUF]D�SUDFD�QDXF]\FLHOD��:6L3��

:DUV]DZD������

.OL��0���.RVVHZVND�-������� &HFK\�RVRERZR�FL�QDXF]\FLHOL�D�V\QGURP�Z\SDOHQLD�

]DZRGRZHJR��Ä3V\FKRORJLD�:\FKRZDZF]D´�������QU���

.RWZLFND�%������� )DVF\QDFMD�F]\�VWUHV��Ä1RZD�6]NRáD´�������QU���

.UDZXOVND�3WDV]\�VND�0������� $QDOL]D�F]\QQLNyZ�Z\SDOHQLD�]DZRGRZHJR�

X�QDXF]\FLHOL�V]Nyá��UHGQLFK��Ä3U]HJO�G�3V\FKRORJLF]Q\´������.UHWVFKPDQQ�5������� 6WUHV�Z�]DZRG]LH�QDXF]\FLHOD��*:3��*GD�VN������.XELN�:������� 6WUHV�V]NROQ\�X�QDXF]\FLHOL�NODV�JLPQD]MDOQ\FK��*yUQR�O�VND�:\*V]D�6]NRáD�3HGDJRJLF]QD��0\VáRZLFH�������SUDFD�PDJLVWHUVND�QDSLVDQD�SRG�NLHUXQNLHP�=��0DUWHQD�±�QLHSXEOLNRZDQD�

/LEHUD�.������� 1LH�PD�V]NRá\�EH]�VWUHVX�±�WDN*H�GOD�QDXF]\FLHOL��Ä(GXNDFMD�L�'LD�

ORJ´������QU�����

0XUG]HN�-���6WUHV�Z�V]NROH��Ä6FKRODVWLFXV´��/XEOLQ�������QU�������

0XUG]HN�-���6WUHV�Z�V]NROH��Ä6FKRODVWLFXV´��/XEOLQ�������QU���������

1RZDN�0������� 1LH�GDM�VL�Z\SDOLü��Ä1RZD�6]NRáD´�������QU����

2OHFK�$������� :\SDOHQLH�]DZRGRZH��:��KWWS���ZZZ�IRUXP�OLGHURZ�SO�NLHUR�

ZDQLH��KWP

2WWR�5������� 7HDFKHUV�XQGHU�VWUHVV��+LOO�RI�&RQWHQW��0HOERXUQH������

3DXOLN�.������� &R�ZSá\ZD�QD�]DGRZROHQLH�]�SUDF\�Z�]DZRG]LH�QDXF]\FLHOD��

Ä1DXF]\FLHO�L�6]NRáD´�������QU�����

3DXOLN�.������� &R�VWUHVXMH�XFLWHOH�Y�5HLFK�SURIHVL�D�MDN�PRKRX�VWUHV\�]YODGDW��>Z�@�

%H]SLHF]H�VWZR�G]LHFL�L�PáRG]LH*\�L�MHJR�]DJUR*HQLD��SRG�UHG��$��6]\PD��VNLHJR�L�(��.U]\*DN�6]\PD�VNLHM��*:63��0\VáRZLFH������3DXOLN�.������� &]\QQLNL�XWUXGQLDM�FH�SUDF�F]HVNLP�L�SROVNLP�QDXF]\FLHORP��

Ä$X[LOLXP�6RFLDOH��:VSDUFLH�6SRáHF]QH´�������QU���

3XVLHFNL�-������� $NFHSWDFMD�]DZRGX�SU]H]�QDXF]\FLHOL��Ä1RZD�6]NRáD´������� QU���

�HKXOND�(����HKXONRYD�2���(G�������� 8þLWHOH�D�]GUDYL�±����%UQR������

�HKXOND�(����HKXONRYD�2���(G������� 8þLWHOH�D�]GUDYL�±����%UQR������

�HKXOND�(����HKXONRYD�2���(G������� 8þLWHOH�D�]GUDYL�±����%UQR������

�HKXOND�(����HKXONRYD�2���(G������� 8þLWHOH�D�]GUDYL�±����%UQR������

�HKXOND�(����(G������� 7HDFKHUV�DQG�KHDOWK�±����%UQR������

�HKXOND�(����(G������� 7HDFKHUV�DQG�KHDOWK�±����%UQR������

5\ONH�+������� :�]JRG]LH�]�VRE��L�]�XF]QLHP��:6L3��:DUV]DZD�������

7DOHU�(������� 6WUHV�Z�]DZRG]LH�QDXF]\FLHOD�V]NRá\�SRGVWDZRZHM��3RG\SORPRZH�

6WXGLXP�2OLJRIUHQRSHGDJRJLNL��8QLZHUV\WHW��O�VNL�)LOLD�Z�&LHV]\QLH��������SUDFD�G\SORPRZD�QDSLVDQD�SRG�NLHUXQNLHP�=��0DUWHQD�±�QLHSXEOLNRZDQD��

���

=ELJQLHZ�0DUWHQ

7DWDURZLF]�-������� 0R*QD�]ZDULRZDü���"�2�]DJUR*HQLDFK�]GURZLD�SV\FKLF]QHJR�

SU]H]�QDXF]\FLHOL��Ä1RZD�6]NRáD´�������QU���

7XFKROVND�6������� 6WUHV�Z�]DZRG]LH�QDXF]\FLHOD��Ä3V\FKRORJLD�:\FKRZDZF]D´�

������QU����

7XFKROVND�6������� 6WUHV�]DZRGRZ\�X�QDXF]\FLHOL��SR]LRP�QDVLOHQLD�L�V\PSWRP\��

Ä3V\FKRORJLD�:\FKRZDZF]D´�������QU����

:DZHOVND�3DSURFND�0������� 6\WXDFMH�VWUHVRZH�Z�V]NROH��Ä(GXNDFMD´������