68 - Adam Federman

Commentaires

Transcription

68 - Adam Federman
!"# $%&# '(&)$*+(*&,-# '*.,%&$/0# +/+(%1&2# .((3&/,,/1#
4"0# .%.,%('$%,/# !15%"6# 745%&# 1/+413/0# )$4)# %)# %&#
841# +(1/# 4+*&%"6# )(# 1/40# 4.(*)# )$/# ',/4&*1/&# (8#
)$/# )4.,/# )$4"# )$(&/# (8# )$/# ./09# !8# /5/1# )$/1/# :4&#
&(+/("/# ;*4,%8%/0# )(# +43/# &*<$# 4# <,4%+2# %)# :4&#
745%&9#="/#(8#)$/#61/4)#>4"0#'/1$4'&#("/#(8#)$/#,4&)?#
4")%;*41%4"# .((3# <(,,/<)(1&# (8# )$/# @A)$# </")*1-2#
745%&# 81/;*/"),-# &+*66,/0# /1()%<# ,%)/14)*1/# (*)##
(8# B41%&# 4"0# %")(# C"6,4"09# D/# ("</# 4<;*%1/0# &(+/##
(8#:$4)#$/#<4,,/0#)$/#E'1/))%/&)#.((3&#(8#)$/#/%6$)//")$#
</")*1-#:%)$#%,,*&)14)%("&#.-#F(1/,G#8%1&)#/0%)%("&#(8#
0/#H40/2#)$/#(1%6%"4,#/0%)%("#(8#!"#$"%$&'(&)*(+&%($,-&
).*+/0-2#&4%0#)(#$45/#.//"#:1%))/"#.-#I,81/0#0/#J*&&/)#
48)/1# $/# .1(3/# :%)$# K/(16/# H4"02# %,,*&)14)/0# .-#
74*+%/12#4"0#+4"-#+(1/2#4,,#%"#&*+')*(*&#.%"0%"6&9L#
# M$/&/# $/# &(,0# %"# B41%&2# .*)# )$/1/# 1/+4%"/0# )$/#
+4))/1# (8# 4# <(,,/<)%("# (8# /1()%<# /"6145%"6&9# M(# 6/)#
)$/&/# 4<1(&&# )$/# <$4""/,# $/# /",%&)/0# )$/# $/,'# (8# $%&#
:%8/2#!5-#C,&)(.2#:$(#&)*88/0#)$/+#%"#$/1#<,()$/&#4"0#
E,((3/0#4&#)$(*6$#&$/#:4&#N*&)#("#)$/#'(%")#(8#6%5%"6#
.%1)$#)(#)1%',/)&9L#="#4"()$/1#(<<4&%("#$/#&+*66,/0#
(*)# )$/# 8%1&)# ):(# 5(,*+/&# (8# 12& 3*/4*,& 5$6*2# 4# 141/2#
/,/5/"O5(,*+/#:(13#(8#:$%<$#)$/1/#:/1/#&4%0#)(#./#
(",-#):/")-#<('%/&#>(8#:$%<$#(",-#("/#:4&#'1%54)/,-#
$/,0?9# E!# $40# 4,:4-&# .//"# <*1%(*&# 4.(*)# )$%&# .((32L#
745%&# :1%)/&2# E./<4*&/# (8# %)&# /P)1/+/# 141%)-# 4"0#
./<4*&/#)$/#4*)$(1&$%'#$40#.//"#4))1%.*)/0#)(#4#5/1-#
0%&)%"6*%&$/0# Q%<)(1%4"# &)4)/&+4"9L# F*)# ./-("0# %)&#
"(5/,)-#4&#4"#41)%84<)2#745%&#8(*"0#)$/#.((3#)%1/&(+/#
4"0#,4<3%"6#4)+(&'$/1/9#!)#:4&2#$/#&4%02#,%)),/#+(1/#
)$4"#4"#4<<(*")#(8#)$/#4*)$(1L&#<('*,4)%("&#81(+#)$/#
46/#(8#'*./1)-#)$1(*6$#40*,)$((09#
_#ZV#`
# ER/8,/<)%"6# ("# )$%&# )$/+/2L# $/# <(")%"*/&2##
E!# 1/)*1"/0# )(# +-# 8,4)# %"# S("0("# :%)$# 4# .4&3/)# (8#
#'4$77*-G# !# ('/"/0# )$4)# 64&)1("(+%<# .%.,/# I,%OF4.#
)(#8%"0#$(:#)$/-#&$(*,0#./#<((3/0#T#8&7"&/40#*9&"(&
/$,4'%9&"(&:(-9&*%&/4'(-,")*9&;'(7*,&"(+&#'4$77*-2#/)<2#/)<9#
M%1/0#4&#!#:4&#4"0#$/45-#4&#)$/#[email protected]#'46/#;*41)(#
5(,*+/#(8#I,%OF4.#%&#)(#$(,02#!#1/40#("#*")%,#)$/#/41,-#
+(1"%"69L#
# W/# (:/# +*<$# (8# :$4)# :/# 3"(:# 4.(*)# 745%&2#
%"<,*0%"6#)$/#4''/414"</#(8#$%&#+/+(%1&2#)(#B4)%/"</#
K14-2#4*)$(1#(8#<7",-&)(&='(4#4"0#>'%*2&?4'#&"&@**)9#
!)#:4&#K14-#:$(#/0%)/0#4"02#4,("6#:%)$#&/5/14,#(8#
745%&L&# 81%/"0&2# '*.,%&$/0# $%&# X4)4,4"# <((3.((3#
%"# UYZY2# ):(# -/41&# 48)/1# $%&# 0/4)$# >1/'1%")/0# .-#
B1(&'/<)# F((3&# %"# @AAA?9# K14-# $/1&/,8# *&/0# +4"-#
(8# 745%&L&# 1/<%'/&# %"# >'%*2& ?4'#& "& @**)2# %"<,*0%"6#
)$/# 8/4&)# (8# )$/# )$1//# 8%&$/1+/"2# 4"0# 0/5()/0# 4"#
/")%1/#<$4')/1#)(#$%+#>ED(+46/#)(#4#X,4&&%<#X((3L?9#
H$/#&4%0#)$4)#745%&#)4*6$)#$/1#/5/1-)$%"6#&$/#3"/:#
4.(*)#<((3%"62#4"0#:4&#&$(<3/0#)(#,/41"2#:$/"#)$/-#
+/)#%"#UY[\2#)$4)#&$/#$40#$40#)$/#)/+/1%)-#)(#:1%)/#
4#<((3.((3#./8(1/#3"(:%"6#$%+#>K14-L&#8%1&)#.((32#
B,4)&#0*#](*12#$40#N*&)#.//"#'*.,%&$/0?9#I&#)$/#&)(1-#
6(/&2# $/# :4&# &(# %+'1/&&/0# :%)$# $/1# 3"(:,/06/# (8#
8*"6%#)$4)#$/#%"5%)/0#$/1#)(#0%""/1#4)#$%&#4'41)+/")#
%"#F1*"&:%<3#H;*41/9
# M$/&/#:/1/#,/6/"041-#4884%1&9#M$(&/#:$(#3"/:#
745%&# 1/<4,,# $%&# 8%"/# Q/"/)%4"# :%"/# 6,4&&/&2# E'4,/#
'41<$+/")# -/,,(:# :%)$# /+/14,0# 61//"# 1%+&2L#
4<<(10%"6#)(#)$/#'(/)#=,%5/1#F/1"4102#81(+#:$%<$#
)$/# ./&)# :%"/&# (8# ^14"</# :/1/# &%''/0# >E&'413,%"6#
Q(*514-#4"0#&+(3-#X,(&#0/#Q(*6/()2L#K14-#:1%)/&?2#
_#ZY#`
!"# $%&# '(&)$*+(*&,-# '*.,%&$/0# +/+(%1&2# .((3&/,,/1#
4"0# .%.,%('$%,/# !15%"6# 745%&# 1/+413/0# )$4)# %)# %&#
841# +(1/# 4+*&%"6# )(# 1/40# 4.(*)# )$/# ',/4&*1/&# (8#
)$/# )4.,/# )$4"# )$(&/# (8# )$/# ./09# !8# /5/1# )$/1/# :4&#
&(+/("/# ;*4,%8%/0# )(# +43/# &*<$# 4# <,4%+2# %)# :4&#
745%&9#="/#(8#)$/#61/4)#>4"0#'/1$4'&#("/#(8#)$/#,4&)?#
4")%;*41%4"# .((3# <(,,/<)(1&# (8# )$/# @A)$# </")*1-2#
745%&# 81/;*/"),-# &+*66,/0# /1()%<# ,%)/14)*1/# (*)##
(8# B41%&# 4"0# %")(# C"6,4"09# D/# ("</# 4<;*%1/0# &(+/##
(8#:$4)#$/#<4,,/0#)$/#E'1/))%/&)#.((3&#(8#)$/#/%6$)//")$#
</")*1-#:%)$#%,,*&)14)%("&#.-#F(1/,G#8%1&)#/0%)%("&#(8#
0/#H40/2#)$/#(1%6%"4,#/0%)%("#(8#!"#$"%$&'(&)*(+&%($,-&
).*+/0-2#&4%0#)(#$45/#.//"#:1%))/"#.-#I,81/0#0/#J*&&/)#
48)/1# $/# .1(3/# :%)$# K/(16/# H4"02# %,,*&)14)/0# .-#
74*+%/12#4"0#+4"-#+(1/2#4,,#%"#&*+')*(*&#.%"0%"6&9L#
# M$/&/# $/# &(,0# %"# B41%&2# .*)# )$/1/# 1/+4%"/0# )$/#
+4))/1# (8# 4# <(,,/<)%("# (8# /1()%<# /"6145%"6&9# M(# 6/)#
)$/&/# 4<1(&&# )$/# <$4""/,# $/# /",%&)/0# )$/# $/,'# (8# $%&#
:%8/2#!5-#C,&)(.2#:$(#&)*88/0#)$/+#%"#$/1#<,()$/&#4"0#
E,((3/0#4&#)$(*6$#&$/#:4&#N*&)#("#)$/#'(%")#(8#6%5%"6#
.%1)$#)(#)1%',/)&9L#="#4"()$/1#(<<4&%("#$/#&+*66,/0#
(*)# )$/# 8%1&)# ):(# 5(,*+/&# (8# 12& 3*/4*,& 5$6*2# 4# 141/2#
/,/5/"O5(,*+/#:(13#(8#:$%<$#)$/1/#:/1/#&4%0#)(#./#
(",-#):/")-#<('%/&#>(8#:$%<$#(",-#("/#:4&#'1%54)/,-#
$/,0?9# E!# $40# 4,:4-&# .//"# <*1%(*&# 4.(*)# )$%&# .((32L#
745%&# :1%)/&2# E./<4*&/# (8# %)&# /P)1/+/# 141%)-# 4"0#
./<4*&/#)$/#4*)$(1&$%'#$40#.//"#4))1%.*)/0#)(#4#5/1-#
0%&)%"6*%&$/0# Q%<)(1%4"# &)4)/&+4"9L# F*)# ./-("0# %)&#
"(5/,)-#4&#4"#41)%84<)2#745%&#8(*"0#)$/#.((3#)%1/&(+/#
4"0#,4<3%"6#4)+(&'$/1/9#!)#:4&2#$/#&4%02#,%)),/#+(1/#
)$4"#4"#4<<(*")#(8#)$/#4*)$(1L&#<('*,4)%("&#81(+#)$/#
46/#(8#'*./1)-#)$1(*6$#40*,)$((09#
_#ZV#`
# ER/8,/<)%"6# ("# )$%&# )$/+/2L# $/# <(")%"*/&2##
E!# 1/)*1"/0# )(# +-# 8,4)# %"# S("0("# :%)$# 4# .4&3/)# (8#
#'4$77*-G# !# ('/"/0# )$4)# 64&)1("(+%<# .%.,/# I,%OF4.#
)(#8%"0#$(:#)$/-#&$(*,0#./#<((3/0#T#8&7"&/40#*9&"(&
/$,4'%9&"(&:(-9&*%&/4'(-,")*9&;'(7*,&"(+&#'4$77*-2#/)<2#/)<9#
M%1/0#4&#!#:4&#4"0#$/45-#4&#)$/#[email protected]#'46/#;*41)(#
5(,*+/#(8#I,%OF4.#%&#)(#$(,02#!#1/40#("#*")%,#)$/#/41,-#
+(1"%"69L#
# W/# (:/# +*<$# (8# :$4)# :/# 3"(:# 4.(*)# 745%&2#
%"<,*0%"6#)$/#4''/414"</#(8#$%&#+/+(%1&2#)(#B4)%/"</#
K14-2#4*)$(1#(8#<7",-&)(&='(4#4"0#>'%*2&?4'#&"&@**)9#
!)#:4&#K14-#:$(#/0%)/0#4"02#4,("6#:%)$#&/5/14,#(8#
745%&L&# 81%/"0&2# '*.,%&$/0# $%&# X4)4,4"# <((3.((3#
%"# UYZY2# ):(# -/41&# 48)/1# $%&# 0/4)$# >1/'1%")/0# .-#
B1(&'/<)# F((3&# %"# @AAA?9# K14-# $/1&/,8# *&/0# +4"-#
(8# 745%&L&# 1/<%'/&# %"# >'%*2& ?4'#& "& @**)2# %"<,*0%"6#
)$/# 8/4&)# (8# )$/# )$1//# 8%&$/1+/"2# 4"0# 0/5()/0# 4"#
/")%1/#<$4')/1#)(#$%+#>ED(+46/#)(#4#X,4&&%<#X((3L?9#
H$/#&4%0#)$4)#745%&#)4*6$)#$/1#/5/1-)$%"6#&$/#3"/:#
4.(*)#<((3%"62#4"0#:4&#&$(<3/0#)(#,/41"2#:$/"#)$/-#
+/)#%"#UY[\2#)$4)#&$/#$40#$40#)$/#)/+/1%)-#)(#:1%)/#
4#<((3.((3#./8(1/#3"(:%"6#$%+#>K14-L&#8%1&)#.((32#
B,4)&#0*#](*12#$40#N*&)#.//"#'*.,%&$/0?9#I&#)$/#&)(1-#
6(/&2# $/# :4&# &(# %+'1/&&/0# :%)$# $/1# 3"(:,/06/# (8#
8*"6%#)$4)#$/#%"5%)/0#$/1#)(#0%""/1#4)#$%&#4'41)+/")#
%"#F1*"&:%<3#H;*41/9
# M$/&/#:/1/#,/6/"041-#4884%1&9#M$(&/#:$(#3"/:#
745%&# 1/<4,,# $%&# 8%"/# Q/"/)%4"# :%"/# 6,4&&/&2# E'4,/#
'41<$+/")# -/,,(:# :%)$# /+/14,0# 61//"# 1%+&2L#
4<<(10%"6#)(#)$/#'(/)#=,%5/1#F/1"4102#81(+#:$%<$#
)$/# ./&)# :%"/&# (8# ^14"</# :/1/# &%''/0# >E&'413,%"6#
Q(*514-#4"0#&+(3-#X,(&#0/#Q(*6/()2L#K14-#:1%)/&?2#
_#ZY#`
4"0# $%&# +4&)/1-# (8# <,4&&%<4,# <((3%"69# ED%&# +/4,&#
:/1/#/P)14(10%"41-2L#)$/#VZ#-/41#(,0#F/1"410#)(,0#
+/# :$/"# !# +/)# $%+# ,4&)# &*++/1# 4)# $%&# $(+/# %"#
a/""%"6$4,,9# ER/4,,-# /P)14(10%"41-9# !# 0("L)# 1/4,,-#
3"(:#:$4)#%)#:4&2#)(#./#$("/&)9#!#+/4"999#!L+#"()##
4# &('$%&)%<4)/0# 0%"/19# F*)# %)# :4&# 4&# +*<$# $%&# (:"#
3%"0# (8# $(&'%)4,%)-# 4"0# '/1&("4,%)-# 4"0# &(# ("2# %)#
&//+/0#)(#+/2#4&#%)#:4&#)$/#8((09#M$/-#:/1/#4,:4-&#
+415/,,(*&#(<<4&%("&9#!"#84<)#$/#:4&#,%3/#+-#.1()$/12#
:$(# *&/0# )(# &(1)# (8# ',*"3# &(+/)$%"6# ("# )$/# )4.,/#
4"0#&4-2#bc/4$2#!L+#4814%0#%)L&#"()#+*<$#6((09d#I"0#
%)#)*1"/0#(*)#)(#./#N*&)#+*<$#./))/1#)$4"#4"-)$%"6#
-(*L0#/5/1#$409L#
# D/#4,&(#&//+/0#)(#*"0/1&)4"0#)$/#54,*/#(8#./%"6#
$*"61-9#I<<(10%"6#)(#B4)%/"</L&#04*6$)/12#J%14"04#
I+(*1OF1(:"2#)$/1/#:4&#(8)/"#4#,("6#0/,4-#./8(1/#
)$/#+/4,#:4&#&/15/09#Ec(*#:/1/#4.&(,*)/,-#84+%&$/0#
4)#)$/#&)41)#(8#)$/#+/4,2L#&$/#&4-&9#EI"0#)$/"#%)#:4&#
)$/#./&)#)$%"6#-(*L0#/5/1#)1%/09L#!"#>'%*2&?4'#&"&@**)#
K14-#1/<4,,&#&(+/#(8#)$/#0%&$/&#&$/#$40#4)#F1*"&:%<3#
H;*41/e# &(11/,# &(*'2# +41%"4)/0# 4"<$(5%/&2# 81/&$#
4&'4146*&2# ,//3&# 8& 7"& A40/B(*2# (1# 4# &4,40# (8# 8/""/,#
8(,,(:/0# .-# 4# +4)/,()/# (8# //,&2# )*1.()# 8& 7"& /40#*2#
,(.&)/12# 4# &/;*/"</# (8# 1(4&)# .%10&2# 61(*&/2# .14%&/0#
'41)1%06/&2#.(%,/0#C"#;'%*2#4"0#/',*/D$%$#&/15/0#:%)$#
;'##*-&8&7.D($7*9
# 745%&#:4&#4,&(#3"(:"#8(1#./%"6#4#'/18/<)%("%&)9#
K14-#)/,,&#)$/#&)(1-#(8#$(:#$/#)$1/:#4#1(4&)#0*<32#
:$%<$# $/# <("&%0/1/0# ,/&&# )$4"# '/18/<)2# (*)# (8# )$/#
:%"0(:# (8# $%&# 4'41)+/")# %"# 81(")# (8# /P'/<)4")#
6*/&)&9# !)# ,(06/0# ("# 4# 014%"'%'/# 4"02# ./%"6# +%0O
&*++/12# $40# )(# ./# 1/+(5/0# .-# )$/# ,(<4,# 8%1/#
0/'41)+/")9#D/#<(*,0#4,&(#./#%+'/)*(*&#4"0#6%5/"#
)(# 4# 3%"0# (8# +/,4"<$(,-# &/,8O0/'1/<4)%("9# D/# ("</#
&)(1+/0#(*)#(8#4#1/&)4*14")#%"#I61('(,%#48)/1#:4%)%"6#
8(1#(5/1#4"#$(*12#./<4*&/#4#81/&$,-O<4*6$)#<("6/1#//,#
:4&#&/15/0#)(#&(+/("/#/,&/9#D/#&)((0#*'2#)(1/#(*)#
)$/#"4'3%"#)*<3/0#/P'/<)4"),-#%"#$%&#<(,,412#)$1/:#%)#
("#)$/#8,((1#4"0#&)1(0/#(*)9#
# !"# $%&# 0/,%6$)8*,# +/+(%12# !*,,$%A& EF*4& G,2#
F/1"4102# :$(# +/)# 745%&# )$1(*6$# $%&# 8%1&)# :%8/2#
)$/#04"</1#F/1-,#a4-/2#0/&<1%./0#$%+#4&#E,((3%"6#
6"(+/,%3/2# $((3# "(&/0# 4"0# <$//18*,,-# 6,((+-9L#
D/#:4&#"/5/1#+(1/#<$//18*,2#%)#&//+&2#)$4"#:$/"#
&/41<$%"6# 8(1# 8(16())/"# +4"*&<1%')&9# ^(1# 745%&#
)$/#.((3#)140/#4"0#64&)1("(+-#:/1/#%"&/'414.,/9#
D/# ',4""/0# $%&# .((3# .*-%"6# )1%'&# )(# ^,(1/"</# )(#
<(%"<%0/#:%)$#)$/#&/4&("L&#8%1&)#4&'4146*&#4"0#"/:#
'/4&f# )$/# 4<;*%&%)%("# (8# 141/# +4"*&<1%')&# (8)/"#
%"<,*0/0#<4&3&#(8#:%"/2#<4&/&#(8#/P)14#5%16%"#(,%5/#
(%,2#(1#46/0#:%"/#5%"/641f#4"0#+//)%"6&#:%)$#()$/1#
<(,,/<)(1&# 4,+(&)# 4,:4-&# %"5(,5/0# &(+/# &(1)# (8#
/,4.(14)/#+/4,9#
# EI# :("0/18*,# 64&)1("(+%<# 04-# %"# g4',/&#
-/&)/104-2L# 745%&# :1()/# %"# 4# ,/))/1# )(# K14-# %"#
UY[Y9#EX4&/,,4#.((3&/,,/12#4#64&)1("(+/2#%"5%)/0#*&#
)(# ,*"<$# 4)# $%&# <,*.2# 84<%"6# )$/# 1/&)4*14")# :$/1/#
:/#(*1&/,5/&#4)/9#W/#$40#4#&4,40#(8#64($,-&)*&#*4-2#
+*&&/,&2# )%"-# (<)('*&# :%)$# )$%"# &)1%'&# (8# </,/1-2#
(%,# 4"0# 4# -'(;H'%# (8# 641,%<2# 4# :("0/18*,# ;"-,$//$'#
(8##"//D*4'%$#:%)$#4*./16%"/&2#.4&%,#(8#<(*1&/#4"0#
)(+4)(2# 4# +%P/0# 81-# (8# +411(:&2# +(hh41/,,4# 4"0#
&+4,,#8%&$2#4"0#4#+/,("#%</#4"0#1/4,#!&<$%4"#:%"/2#
)$/# &(1)# 7(*6,4&# +*&)# $45/# 01*"3# iA# -/41&# 46(9L#
_#\A#`
D/# :4&# (8# <(*1&/# 1/8/11%"6# )(# g(1+4"# 7(*6,4&2#
/P%,/0#4*)$(1#(8#3'(,D&@$%)#4"0#E7)&I"7"J4$"2#:$(#
$40# .//"# 4# 0/<%&%5/# %"8,*/"</# ("# C"6,4"0L&# ./&)O
3"(:"#'(&)#:41#8((0#:1%)/12#C,%h4./)$#745%09#
# !"0//02# )$/# '414,,/,&# ./)://"# )$/# ):(#
1/,4)%("&$%'&# T# )$4)# (8# +/")(1# 4"0# 0%&<%',/# T# 41/#
&)1%3%"69# F()$# :(+/"# :/1/# <("&%0/14.,-# -(*"6/1#
)$4"# )$/# +/"# )$/-# ./81%/"0/0f# )$/# 1/,4)%("&$%'&#
:/1/#(8#&$(1)#0*14)%("#.*)#%")/"&/#4"0#8(1+4)%5/f#
4"0#/4<$#&//+/0#)(#$45/#4#'1(8(*"0#%"8,*/"</#("#
)$/%1# 8*)*1/# <41//1&# 4&# 8((0# :1%)/1&9# C,%h4./)$#
745%0#:(*,0#4,&(#4))1%.*)/#+*<$#(8#$/1#3"(:,/06/#
(8#8((0#4"0#<((3%"6#)(#7(*6,4&2#:$(+#&$/#+/)#%"#
UYjY#>&$/#:4&#@Z#4"0#$/#:4&#\@?#:$%,/#&)14"0/0#%"#
I")%./&#./8(1/#)$/#:419#M$/-#(8)/"#0%"/0#)(6/)$/1#
(1# )((3# ,("6# :4,3&# %"# )$/# $%,,&# "/41# Q/"</9# H$/#
0/0%<4)/0#$/1#8%1&)#.((32#1*)$,*44"%*"%&?'')2#)(#$%+#
4"0#:1()/#&/5/14,#/&&4-&#4.(*)#)$/%1#/"<(*")/1&9#
# I<<(10%"6# )(# 745%0L&# .%(614'$/12# Eg(1+4"#
7(*6,4&G# ,4%0# )$/# 8(*"04)%("&# (8# )$/# :4-# &$/#
)$(*6$)#"()#(",-#4.(*)#8((02#.*)#4.(*)#$%&)(1-2#)$/#
J/0%)/114"/4"# :(1,0# 4"0# )$/# :4-# ,%8/# &$(*,0# ./#
,%5/09L# ^((0# +4))/1/0# 8%/1</,-# )(# 7(*6,4&2# 4"0# %"#
$%&#:(13#%)#:4&#0%&<*&&/0#4,("6&%0/#"4)*14,#$%&)(1-2#
1/,%6%("# 4"0# '(,%)%<4,# /<("(+-9# D/# /5/"# :1()/# 4#
<((3.((3# (8# &(1)&# T# 4# <(,,/<)%("# (8# 4'$1(0%&%4<#
1/<%'/&#)%),/0#K*%(-&G%&LD*&M$,/D*%f#'4#5'F*.-&I''N*42#
O''N2# '*.,%&$/0# 48)/1# $%&# 0/4)$# %"# UY[@9# B/1$4'&#
+(1/#)$4"#4"-)$%"6#/,&/#%)#:4&#g(1+4"#4"0#745%&L&#
4''1(4<$#)(#,%8/2#%"8(1+/0#.-#)$/%1#J/0%)/114"/4"#
'4&)2#)$4)#&(#84&<%"4)/0#745%0#4"0#K14-#T#8%/1</,-#
%"0/'/"0/")2#%")/,,/<)*4,,-#1%6(1(*&#:(+/"9
# 745%&L&# <(""/<)%("# )(# )$4)# ,(&)# :(1,0# (8#
:1%)/1&2#41)%&)&2#4"0#%")/,,/<)*4,&#4,&(#4''/4,/0#)(#
K14-9# g()# (",-# 0%0# $/# %")1(0*</# $/1# )(# &(+/# (8#
)$/# :/,,O3"(:"# 8%6*1/&# (8# )$/# 141/# .((3# <%1<*%)e#
M4++41(#7/#J41%"%&2#S*<%/"#H<$/,/1#>'*.,%&$/1#(8#
C,*410?2#4"0#F,4&%(#K4,4")%2#:$(+#K14-#0/&<1%./0#
4&# 4# E:("0/18*,# /+4<%4)/0# 8%6*1/2# :$(&/# &40#
84</# 1/+%"0/0# +/# (8# !)4,-L&# /41,-# UY)$# </")*1-#
1/5(,*)%("41%/&2L#.*)#$/#:4&#4,&(#4#,%"3#)(#)$4)#E,(&)#
F($/+%4L#(8#:4-:410#C"6,%&$+/"2#+(&),-#:1%)/1&2#
%"<,*0%"6#g(1+4"#7(*6,4&2#7D#S4:1/"</2#R("4,0#
^%1.4"32#J4P#F//1.($+#4"0#()$/1&9#
# !"0//0# 745%&# $40# +(5/0# 4+("6# )$/# 5/1-# &4+/#
<%1<,/f# $%&# 8%1&)# '41)"/1# %"# )$/# .((3# .*&%"/&&# :4&#
K%*&/''/# >EB%"(L?# =1%(,%2# 4# <,(&/# 81%/"0# 4"0# ,(5/1#
(8# 7(*6,4&L&9# M$/-# :/1/# &(# %"&/'414.,/# )$4)# )$/-#
1/8/11/0# )(# )$/+&/,5/&# 4&# EB%"(1+4"L9# =1%(,%# :4&#
4,&(# ./%"6# <(*1)/0# .-# )$/# "(5/,%&)# R/66%/# M*1"/12#
$(:/5/12#:$(#'1(+%&/0#)(#%"<,*0/#$%+#%"#$%&#:%,,2#
)(# g(1+4"L&# "/5/1O/"0%"6# <("&)/1"4)%("9# 745%&#
%&# 141/,-# +/")%("/0# 4,("6&%0/# )$/+2# .*)# $/# :4&#
</1)4%",-#'41)#(8#)$/#'%<)*1/9#D/#4"0#=1%(,%#('/"/0#
4#.((3&$('#%"#^,(1/"</#%"#UYUU#4"0#)$/-#:/1/#)$/#
8%1&)#)(#'*.,%&$#5")2&ID",,*47*2.-&5'F*49#745%&#&4%0#)$4)#
=1%(,%#%")1(0*</0#$%+#)(#)$/#',/4&*1/&#(8#)$/#)4.,/9#
D/# :1()/2# E^((0# ./<4+/# 4"# %")/1/&)# 8(1# +/# 4"0#
<((3%"62#!#6140*4,,-#1/4,%h/02#)$/#&%P)$#41)9L
# !"# UYjZ2# 4)# )$/# $/%6$)# (8# )$/# I.-&&%"%4"# :412#
745%&# +4"46/0# )(# &/,,# 4# 141/# M4&&(# +4"*&<1%')# )(#
)$/# !)4,%4"# g4)%("4,# S%.141-# %"# R(+/9# EM$/-# '4%0#
"()# 4# ,%)),/2L# 4<<(10%"6# )(# $%&# &)/'# 04*6$)/1# !4")$/#
X41&:/,,9# F*)# ./<4*&/# (8# :41)%+/# 1/&)1%<)%("&2# $/#
_#\U#`
4"0# $%&# +4&)/1-# (8# <,4&&%<4,# <((3%"69# ED%&# +/4,&#
:/1/#/P)14(10%"41-2L#)$/#VZ#-/41#(,0#F/1"410#)(,0#
+/# :$/"# !# +/)# $%+# ,4&)# &*++/1# 4)# $%&# $(+/# %"#
a/""%"6$4,,9# ER/4,,-# /P)14(10%"41-9# !# 0("L)# 1/4,,-#
3"(:#:$4)#%)#:4&2#)(#./#$("/&)9#!#+/4"999#!L+#"()##
4# &('$%&)%<4)/0# 0%"/19# F*)# %)# :4&# 4&# +*<$# $%&# (:"#
3%"0# (8# $(&'%)4,%)-# 4"0# '/1&("4,%)-# 4"0# &(# ("2# %)#
&//+/0#)(#+/2#4&#%)#:4&#)$/#8((09#M$/-#:/1/#4,:4-&#
+415/,,(*&#(<<4&%("&9#!"#84<)#$/#:4&#,%3/#+-#.1()$/12#
:$(# *&/0# )(# &(1)# (8# ',*"3# &(+/)$%"6# ("# )$/# )4.,/#
4"0#&4-2#bc/4$2#!L+#4814%0#%)L&#"()#+*<$#6((09d#I"0#
%)#)*1"/0#(*)#)(#./#N*&)#+*<$#./))/1#)$4"#4"-)$%"6#
-(*L0#/5/1#$409L#
# D/#4,&(#&//+/0#)(#*"0/1&)4"0#)$/#54,*/#(8#./%"6#
$*"61-9#I<<(10%"6#)(#B4)%/"</L&#04*6$)/12#J%14"04#
I+(*1OF1(:"2#)$/1/#:4&#(8)/"#4#,("6#0/,4-#./8(1/#
)$/#+/4,#:4&#&/15/09#Ec(*#:/1/#4.&(,*)/,-#84+%&$/0#
4)#)$/#&)41)#(8#)$/#+/4,2L#&$/#&4-&9#EI"0#)$/"#%)#:4&#
)$/#./&)#)$%"6#-(*L0#/5/1#)1%/09L#!"#>'%*2&?4'#&"&@**)#
K14-#1/<4,,&#&(+/#(8#)$/#0%&$/&#&$/#$40#4)#F1*"&:%<3#
H;*41/e# &(11/,# &(*'2# +41%"4)/0# 4"<$(5%/&2# 81/&$#
4&'4146*&2# ,//3&# 8& 7"& A40/B(*2# (1# 4# &4,40# (8# 8/""/,#
8(,,(:/0# .-# 4# +4)/,()/# (8# //,&2# )*1.()# 8& 7"& /40#*2#
,(.&)/12# 4# &/;*/"</# (8# 1(4&)# .%10&2# 61(*&/2# .14%&/0#
'41)1%06/&2#.(%,/0#C"#;'%*2#4"0#/',*/D$%$#&/15/0#:%)$#
;'##*-&8&7.D($7*9
# 745%&#:4&#4,&(#3"(:"#8(1#./%"6#4#'/18/<)%("%&)9#
K14-#)/,,&#)$/#&)(1-#(8#$(:#$/#)$1/:#4#1(4&)#0*<32#
:$%<$# $/# <("&%0/1/0# ,/&&# )$4"# '/18/<)2# (*)# (8# )$/#
:%"0(:# (8# $%&# 4'41)+/")# %"# 81(")# (8# /P'/<)4")#
6*/&)&9# !)# ,(06/0# ("# 4# 014%"'%'/# 4"02# ./%"6# +%0O
&*++/12# $40# )(# ./# 1/+(5/0# .-# )$/# ,(<4,# 8%1/#
0/'41)+/")9#D/#<(*,0#4,&(#./#%+'/)*(*&#4"0#6%5/"#
)(# 4# 3%"0# (8# +/,4"<$(,-# &/,8O0/'1/<4)%("9# D/# ("</#
&)(1+/0#(*)#(8#4#1/&)4*14")#%"#I61('(,%#48)/1#:4%)%"6#
8(1#(5/1#4"#$(*12#./<4*&/#4#81/&$,-O<4*6$)#<("6/1#//,#
:4&#&/15/0#)(#&(+/("/#/,&/9#D/#&)((0#*'2#)(1/#(*)#
)$/#"4'3%"#)*<3/0#/P'/<)4"),-#%"#$%&#<(,,412#)$1/:#%)#
("#)$/#8,((1#4"0#&)1(0/#(*)9#
# !"# $%&# 0/,%6$)8*,# +/+(%12# !*,,$%A& EF*4& G,2#
F/1"4102# :$(# +/)# 745%&# )$1(*6$# $%&# 8%1&)# :%8/2#
)$/#04"</1#F/1-,#a4-/2#0/&<1%./0#$%+#4&#E,((3%"6#
6"(+/,%3/2# $((3# "(&/0# 4"0# <$//18*,,-# 6,((+-9L#
D/#:4&#"/5/1#+(1/#<$//18*,2#%)#&//+&2#)$4"#:$/"#
&/41<$%"6# 8(1# 8(16())/"# +4"*&<1%')&9# ^(1# 745%&#
)$/#.((3#)140/#4"0#64&)1("(+-#:/1/#%"&/'414.,/9#
D/# ',4""/0# $%&# .((3# .*-%"6# )1%'&# )(# ^,(1/"</# )(#
<(%"<%0/#:%)$#)$/#&/4&("L&#8%1&)#4&'4146*&#4"0#"/:#
'/4&f# )$/# 4<;*%&%)%("# (8# 141/# +4"*&<1%')&# (8)/"#
%"<,*0/0#<4&3&#(8#:%"/2#<4&/&#(8#/P)14#5%16%"#(,%5/#
(%,2#(1#46/0#:%"/#5%"/641f#4"0#+//)%"6&#:%)$#()$/1#
<(,,/<)(1&# 4,+(&)# 4,:4-&# %"5(,5/0# &(+/# &(1)# (8#
/,4.(14)/#+/4,9#
# EI# :("0/18*,# 64&)1("(+%<# 04-# %"# g4',/&#
-/&)/104-2L# 745%&# :1()/# %"# 4# ,/))/1# )(# K14-# %"#
UY[Y9#EX4&/,,4#.((3&/,,/12#4#64&)1("(+/2#%"5%)/0#*&#
)(# ,*"<$# 4)# $%&# <,*.2# 84<%"6# )$/# 1/&)4*14")# :$/1/#
:/#(*1&/,5/&#4)/9#W/#$40#4#&4,40#(8#64($,-&)*&#*4-2#
+*&&/,&2# )%"-# (<)('*&# :%)$# )$%"# &)1%'&# (8# </,/1-2#
(%,# 4"0# 4# -'(;H'%# (8# 641,%<2# 4# :("0/18*,# ;"-,$//$'#
(8##"//D*4'%$#:%)$#4*./16%"/&2#.4&%,#(8#<(*1&/#4"0#
)(+4)(2# 4# +%P/0# 81-# (8# +411(:&2# +(hh41/,,4# 4"0#
&+4,,#8%&$2#4"0#4#+/,("#%</#4"0#1/4,#!&<$%4"#:%"/2#
)$/# &(1)# 7(*6,4&# +*&)# $45/# 01*"3# iA# -/41&# 46(9L#
_#\A#`
D/# :4&# (8# <(*1&/# 1/8/11%"6# )(# g(1+4"# 7(*6,4&2#
/P%,/0#4*)$(1#(8#3'(,D&@$%)#4"0#E7)&I"7"J4$"2#:$(#
$40# .//"# 4# 0/<%&%5/# %"8,*/"</# ("# C"6,4"0L&# ./&)O
3"(:"#'(&)#:41#8((0#:1%)/12#C,%h4./)$#745%09#
# !"0//02# )$/# '414,,/,&# ./)://"# )$/# ):(#
1/,4)%("&$%'&# T# )$4)# (8# +/")(1# 4"0# 0%&<%',/# T# 41/#
&)1%3%"69# F()$# :(+/"# :/1/# <("&%0/14.,-# -(*"6/1#
)$4"# )$/# +/"# )$/-# ./81%/"0/0f# )$/# 1/,4)%("&$%'&#
:/1/#(8#&$(1)#0*14)%("#.*)#%")/"&/#4"0#8(1+4)%5/f#
4"0#/4<$#&//+/0#)(#$45/#4#'1(8(*"0#%"8,*/"</#("#
)$/%1# 8*)*1/# <41//1&# 4&# 8((0# :1%)/1&9# C,%h4./)$#
745%0#:(*,0#4,&(#4))1%.*)/#+*<$#(8#$/1#3"(:,/06/#
(8#8((0#4"0#<((3%"6#)(#7(*6,4&2#:$(+#&$/#+/)#%"#
UYjY#>&$/#:4&#@Z#4"0#$/#:4&#\@?#:$%,/#&)14"0/0#%"#
I")%./&#./8(1/#)$/#:419#M$/-#(8)/"#0%"/0#)(6/)$/1#
(1# )((3# ,("6# :4,3&# %"# )$/# $%,,&# "/41# Q/"</9# H$/#
0/0%<4)/0#$/1#8%1&)#.((32#1*)$,*44"%*"%&?'')2#)(#$%+#
4"0#:1()/#&/5/14,#/&&4-&#4.(*)#)$/%1#/"<(*")/1&9#
# I<<(10%"6# )(# 745%0L&# .%(614'$/12# Eg(1+4"#
7(*6,4&G# ,4%0# )$/# 8(*"04)%("&# (8# )$/# :4-# &$/#
)$(*6$)#"()#(",-#4.(*)#8((02#.*)#4.(*)#$%&)(1-2#)$/#
J/0%)/114"/4"# :(1,0# 4"0# )$/# :4-# ,%8/# &$(*,0# ./#
,%5/09L# ^((0# +4))/1/0# 8%/1</,-# )(# 7(*6,4&2# 4"0# %"#
$%&#:(13#%)#:4&#0%&<*&&/0#4,("6&%0/#"4)*14,#$%&)(1-2#
1/,%6%("# 4"0# '(,%)%<4,# /<("(+-9# D/# /5/"# :1()/# 4#
<((3.((3# (8# &(1)&# T# 4# <(,,/<)%("# (8# 4'$1(0%&%4<#
1/<%'/&#)%),/0#K*%(-&G%&LD*&M$,/D*%f#'4#5'F*.-&I''N*42#
O''N2# '*.,%&$/0# 48)/1# $%&# 0/4)$# %"# UY[@9# B/1$4'&#
+(1/#)$4"#4"-)$%"6#/,&/#%)#:4&#g(1+4"#4"0#745%&L&#
4''1(4<$#)(#,%8/2#%"8(1+/0#.-#)$/%1#J/0%)/114"/4"#
'4&)2#)$4)#&(#84&<%"4)/0#745%0#4"0#K14-#T#8%/1</,-#
%"0/'/"0/")2#%")/,,/<)*4,,-#1%6(1(*&#:(+/"9
# 745%&L&# <(""/<)%("# )(# )$4)# ,(&)# :(1,0# (8#
:1%)/1&2#41)%&)&2#4"0#%")/,,/<)*4,&#4,&(#4''/4,/0#)(#
K14-9# g()# (",-# 0%0# $/# %")1(0*</# $/1# )(# &(+/# (8#
)$/# :/,,O3"(:"# 8%6*1/&# (8# )$/# 141/# .((3# <%1<*%)e#
M4++41(#7/#J41%"%&2#S*<%/"#H<$/,/1#>'*.,%&$/1#(8#
C,*410?2#4"0#F,4&%(#K4,4")%2#:$(+#K14-#0/&<1%./0#
4&# 4# E:("0/18*,# /+4<%4)/0# 8%6*1/2# :$(&/# &40#
84</# 1/+%"0/0# +/# (8# !)4,-L&# /41,-# UY)$# </")*1-#
1/5(,*)%("41%/&2L#.*)#$/#:4&#4,&(#4#,%"3#)(#)$4)#E,(&)#
F($/+%4L#(8#:4-:410#C"6,%&$+/"2#+(&),-#:1%)/1&2#
%"<,*0%"6#g(1+4"#7(*6,4&2#7D#S4:1/"</2#R("4,0#
^%1.4"32#J4P#F//1.($+#4"0#()$/1&9#
# !"0//0# 745%&# $40# +(5/0# 4+("6# )$/# 5/1-# &4+/#
<%1<,/f# $%&# 8%1&)# '41)"/1# %"# )$/# .((3# .*&%"/&&# :4&#
K%*&/''/# >EB%"(L?# =1%(,%2# 4# <,(&/# 81%/"0# 4"0# ,(5/1#
(8# 7(*6,4&L&9# M$/-# :/1/# &(# %"&/'414.,/# )$4)# )$/-#
1/8/11/0# )(# )$/+&/,5/&# 4&# EB%"(1+4"L9# =1%(,%# :4&#
4,&(# ./%"6# <(*1)/0# .-# )$/# "(5/,%&)# R/66%/# M*1"/12#
$(:/5/12#:$(#'1(+%&/0#)(#%"<,*0/#$%+#%"#$%&#:%,,2#
)(# g(1+4"L&# "/5/1O/"0%"6# <("&)/1"4)%("9# 745%&#
%&# 141/,-# +/")%("/0# 4,("6&%0/# )$/+2# .*)# $/# :4&#
</1)4%",-#'41)#(8#)$/#'%<)*1/9#D/#4"0#=1%(,%#('/"/0#
4#.((3&$('#%"#^,(1/"</#%"#UYUU#4"0#)$/-#:/1/#)$/#
8%1&)#)(#'*.,%&$#5")2&ID",,*47*2.-&5'F*49#745%&#&4%0#)$4)#
=1%(,%#%")1(0*</0#$%+#)(#)$/#',/4&*1/&#(8#)$/#)4.,/9#
D/# :1()/2# E^((0# ./<4+/# 4"# %")/1/&)# 8(1# +/# 4"0#
<((3%"62#!#6140*4,,-#1/4,%h/02#)$/#&%P)$#41)9L
# !"# UYjZ2# 4)# )$/# $/%6$)# (8# )$/# I.-&&%"%4"# :412#
745%&# +4"46/0# )(# &/,,# 4# 141/# M4&&(# +4"*&<1%')# )(#
)$/# !)4,%4"# g4)%("4,# S%.141-# %"# R(+/9# EM$/-# '4%0#
"()# 4# ,%)),/2L# 4<<(10%"6# )(# $%&# &)/'# 04*6$)/1# !4")$/#
X41&:/,,9# F*)# ./<4*&/# (8# :41)%+/# 1/&)1%<)%("&2# $/#
_#\U#`
:4&# *"4.,/# )(# .1%"6# )$/# +("/-# .4<3# )(# C"6,4"02#
4"0#%"&)/40#&'/")#$4,8#(8#%)#("#4#,45%&$#<1(&&O<(*")1-#
)(*1#(8#!)4,-#4"0#)$/#()$/1#$4,8#("#.((3&9#E745%&#4"0#
=1%(,%#4"0#7(*6,4&#&'/")#4#,()#(8#)$/#04-#01%"3%"6#
4"0# /4)%"62L# X41&:/,,# "()/0# %"# 4# ,/))/1# )(# K14-#
0/&<1%.%"6#)$/#)1%'#4"0#)$/%1#&)4-#%"#^,(1/"</9#E!)#:4&#
*";*/&)%("4.,-#)$/#+(&)#:("0/18*,#/P<%)%"6#$(,%04-#
(8#+-#,%8/9L
# !)#:4&"L)#,("6#48)/1#)$/-#+/)#)$4)#K14-#4"0#745%&#
&/)#(88#("#("/#(8#)$/%1#(:"#/P'/0%)%("&9#EB1(+')/0#
.-# "(&)4,6%4# 8(1# !)4,-# 4"0# $%&# 0%&)4")# '4&)2L# K14-#
:1%)/&2#)$/-#01(5/#81(+#g4',/&#)(#S/<</2#8(,,(:%"6#
%"#)$/#8(()&)/'&#(8#7(*6,4&#4"0#=1%(,%2#%"#&/41<$#(8#
J46"4#K14/<%49#M$/-#)145/,/0#("#'1%+%)%5/#1(40&#%"#
4#)%"-#^%4)2#745%&#'*88%"6#4:4-#4)#$%&#M*&<4"#<%641&#
>E(*1#1(*)/#%&#&)1/:"#:%)$#$*"01/0&#(8#*"&+(3/4.,/#
<%641&L?2# :%)$# <('%/&# (8# K/(16/# K%&&%"6L&# O2& ,D*&
G'%$"%& 3*"# 4"0# S/"(1+4")L&# 5"& !4"%)*& !40/*# 4"0#
K'2"A*&8&,4"F*4-&7.P;(7$*&*,&7"&5(/"%$*#.-#)$/%1#&%0/9#!"#4#
,/))/1#)(#4"#/0%)(1#4)#)$/#g/:#c(13#M%+/&#%"#UYYA2#
K14-#/P',4%"/0#)$4)2#ED/#_745%&`#4,:4-&#)(,0#+/#)$4)#
7(*6,4&# $40# "/5/1# &/)# 8(()# %"# )$/# H4,/")(9# W$/"#
!15%"6#4"0#!#%"#UY[V#+40/#4#N(*1"/-#%")(#X4,4.1%42#
F4&%,%<4)4# 4"0# I'*,%42# %"# )$/# &)/'&# (8# 7(*6,4&# 4"0#
B%"(#=1%(,%2#"()$%"6#:(*,0#%"0*</#$%+#)(#/P',(1/#
)$/# H4,/")(# &(*)$# (8# S/<</G# I&# 841# 4&# !15%"6# :4&#
<("</1"/02# $/# (",-# :%&$/0# )(# 6(# :$/1/# 7(*6,4&#
$40#4,&(#.//"9L#I)#)$/#)%+/2#K14-#"/5/1#:(*,0#$45/#
%+46%"/0#)$4)#&$/#)((#+%6$)#&/)),/#&(*)$#(8#S/<</9#
# M$/-# &'/")# "/41,-# )$1//# ://3&# ("# )$/# 1(402#
)145/1&%"6#X4,4.1%42#F4&%,%<4)4#4"0#B*6,%49#K14-#3/')#
4# 8146+/")41-# 4<<(*")# (8# )$4)# )1%'2# 4"0# :4&# )43/"#
.-# )$/# 4*&)/1%)-# (8# )$/# ,4"0&<4'/2# )$/# <1*+.,%"6#
41<$%)/<)*1/2#4"0#)$/#:%,0#./4*)-#(8#)$/#&/49#M$/-#
'4&&/0#)$1(*6$#F%&%6"4"(2#:$/1/#=1%(,%#&4%0#K1//3#
'()&#:/1/#+40/f#M414")(2#./<4*&/#7(*6,4&#<,4%+/0#
%)#:4&#:$/1/#)$/#<4)#:4&#8%1&)#%")1(0*</0#)(#C*1('/#
81(+# C6-')f# 4"0# ^1/0/1%<3# !!L&# <4&),/# %"# M14"%2##
4#&/4'(1)#("#)$/#I01%4)%<9#J/4,&#:/1/#&%+',/2#(8)/"#
"()$%"6# +(1/# )$4"# .1/402# <$//&/2# 4"0# :%"/9# S%3/#
)$/#$()/,&#T#E0/'1/&&%"6L#4"0#E)(+.,%3/L#T#)$/-#:/1/#
4,&(# &(+/)%+/&# 0%&4''(%")%"69# B1(5%&%("&# :/1/#
&<41</9#E!8#-(*#&//#4#.412#$(:/5/1#'1%+%)%5/2#&)('#4)#
%)2#)$/1/#:("L)#./#4"()$/1#8(1#iA#+%,/&kL
# F*)# )$/1/# :/1/# )1/4&*1/&2# )((e# 4# )1*<3# &)('# %"#
M1/.%&4<</# ("# )$/# !("%4"# :$/1/# )$/-# 4)/# (,%5/&2#
41)%<$(3/&2# ;4'-/$(,,'2# 4"0# #"//D*4'%$& "7& 6'4%'# >EK%4")#
'/)1(,#)14%,/1&#014:"#*'2#,%5/,-#,(11-+/"2#(,/4"0/1&#
%"#'()&#("#)$/#1(40:4-2#1*&)%<#$(1&#0L(/*51/&2L#K14-#
:1()/?f#4,("6#)$/#;*4-#%"#M414")(#:$/1/2#)$/-#$40#/'CC*&
"7&6'4%'#T#+*&&/,&#('/"/0#(5/1#4#5/1-#$()#8%1/#4"0#8%,,/0#
:%)$# 4# +%P)*1/# (8# )$/%1# (:"# N*%</&2# .1/40<1*+.&2#
641,%<2# '41&,/-2# 4"0# '41+/&4"2# &'1%"3,/0# :%)$# (,%5/#
(%,#4"0#.1(:"/0#%"#4#$()#(5/"#T#E'/1$4'&#)$/#+(&)#
'/18/<)#0%&$#:/#4)/L#>4#1/<%'/#%"<,*0/0#%"#>'%*2&?4'#&
"&@**)?f#)$/#&)1("62#,%6$),-#&'413,%"6#:%"/&#(8#H454f#
4"0#)$/#0/<(14)%5/#'4&)1%/&#(8#S/<</9#
# M$/# 4''1(4<$# )(# )$4)# .41(;*/# <%)-2# 4"0# )$/#
E+%14<*,(*&#,*<%0%)-#(8#)$/#I'*,%4"#&3-L#,/8)#4#0//'#
%+'1/&&%("#("#K14-9#E="/#<(*,0#&//#4#,("6#:4-2L#&$/#
:1()/2#E)$/#.1%,,%4")#,%)),/#:$%)/#<*./&2#'/4&4")#$*)&2#
,/40%"6#)$/#/-/#%")(#)$/#841)$/&)#0%&)4"</9#F/4*)%8*,#
:$%)/# <4&)/,,4)/0# 841+&# 4''/41/02# /"<,(&/0# %"#
.4&)%("#:4,,&2#:%)$#&;*41/#)(:/1&2#<1/"/,,4)/09#M$/"#
_#\@#`#####
)$/#0/,%6$)#(8#)$/#)(:"O5%,,46/&2#,("6#,("6#&)1//)&#(8#
04hh,%"6# :$%)/# )/114</0# $(*&/&# >(<<4&%("4,,-# '4,/#
.,*/2#'4,/#<$1(+/2#(1#:4&$/0#:%)$#'%"3?2#5%&)4&#(8#
1/<)%,%"/41#:$%)/"/&&#'*"<)*4)/0#:%)$#.,4<3#641./0#
'/4&4")&#4)#)$/%1#0((1:4-&2#&%))%"6#("#)$/#&)1//)9L#
# M$(*6$#745%&#3/')#)(#$%&#:(10#4"0#)$/-#0%0"L)#
5/")*1/# &(*)$# (8# S/<</2# %)# :4&# K14-L&# 8%1&)# )4&)/#
(8# )$/# H4,/")(2# )$4)# 8(1/%6"# ,4"0&<4'/# )$4)# :(*,0#
/5/")*4,,-# ./<(+/# $/1# $(+/9# !"# 4# ,/))/1# )(# $/1#
+()$/1# %"# UYZV2# ("/# -/41# 48)/1# 745%&L&# 0/4)$# 4"0#
N*&)#./8(1/#&$/#4"0#$/1#'41)"/12#)$/#F/,6%4"#&<*,')(1#
g(1+4"#J(++/"&2#+40/#)$/%1#8%1&)#)1%'#)(#B*6,%4#
%"#&/41<$#(8#4#',4</#)(#,%5/#4"0#:(132#K14-#:1()/2#
E^*""-# !# &$(*,0# $45/# /P',(1/0# )$4)# 1/6%("# :%)$#
745%&9# I"0# ("/# (1# ):(# ',4</&# $45/# %"0/,%.,-# 8%P/0#
)$/+&/,5/&#%"#+-#+/+(1-9L#
# 745%&#:(*,0#4,&(#%")1(0*</#K14-#)(#C,#Q/"01/,,#
%"# X4)4,("%42# :$/1/# $/# &'/")# &*++/1&# :%)$# )$/#
&<*,')(1# I'/,O,/&O^/"(&4# 4"0# $%&# :%8/# g%<(,/9##
!)#:4&#$/1/2#)(:410#)$/#/"0#(8#$%&#,%8/2#)$4)#745%&L&#
%")/1/&)#%"#141/#.((3&#4"0#8((0#&//+/0#)(#<("5/16/9#
745%&#./<4+/#4<;*4%")/0#:%)$#)$/#^/"(&4&#)$1(*6$#
$%&# 81%/"0# )$/# '(/)# 4"0# '*.,%&$/1# S*<%/"# H<$/,/19##
D/#:(*,0#&//#)$/+#("#$%&#)1%'&#)(#B41%&2#:$/1/#$/#
(8)/"# '*1<$4&/0# ^/"(&4L&# &<*,')*1/&2# %"<,*0%"6# 5"&
L*#;Q,*&;'(4/D"--R*&;"4&7*&O*"(&L*#;-2#:$%<$#$/#645/#
)(# K14-9# !)# <4"# &)%,,# ./# 8(*"0# ("# )$/# +4"),/'%/</#
(5/1#)$/#0%"%"6#1((+#)4.,/#4)#H'%6(,%hh%2#K14-#4"0#
J(++/"&#841+$(*&/#%"#B*6,%49#
# ^/"(&4# ,%3/0# )(# 1/)*1"# )$/# 845(1# .-# '*1<$4&%"6#
745%&L&# .((3&9# ="# ("/# (<<4&%("2# %"# S("0("2# $/#
4&3/0#745%&#%8#$/#$40#4#<('-#(8#74")/L&#K$,"&S('F"9#
745%&# ('/"/0# ("/# (8# $%&# .((3<4&/&# 4"0# '1(0*</0##
4#8%1&)#/0%)%("#<('-9#^/"(&4#:4&#&'/,,.(*"09#EW$4)L&#
%)# :(1)$lL# $/# 4&3/09# I<<(10%"6# )(# g%<(,/2# :$(#
)(,0# +/# )$/# &)(1-# %"# $/1# J(")+41)1/# 4'41)+/")2#
<1(:0/0# :%)$# ^/"(&4L&# &<*,')*1/&2# E!15%"6# ('/"/0#
)$/# .((32# 1/40# 4# +-&)/1%(*&# &%6"# ("# )$/# )%),/# '46/#
4"0#+/")%("/0#4#&*+9#I'/,O,/&#'4%02#(8#<(*1&/9#M$4)#
&4+/#"%6$)2#4)#&*''/12#!15%"6#&4%02#b!8#-(*#:4")#)(#
&/,,#+/#)$/#.((3#.4<32#!L,,#'4-#-(*#0(*.,/9dL
# 745%&# 0/,%6$)/0# %"# 8*/,,%"6# ()$/1&L# '4&&%("&9##
D/#:(*,02#(5/1#)$/#-/41&2#<(")1%.*)/#4#UZ)$#</")*1-#
B/)141<$2# S*%&# 0/# K("6(14L&# 3'7*)")*-2# 4"0# 5"-& ,4*-#
#(-"-& (7,$#"-& /"-,*77"%"-# .-# ^14"<%&<(# 0/# m*/5/0(2#
_#\j#`#
:4&# *"4.,/# )(# .1%"6# )$/# +("/-# .4<3# )(# C"6,4"02#
4"0#%"&)/40#&'/")#$4,8#(8#%)#("#4#,45%&$#<1(&&O<(*")1-#
)(*1#(8#!)4,-#4"0#)$/#()$/1#$4,8#("#.((3&9#E745%&#4"0#
=1%(,%#4"0#7(*6,4&#&'/")#4#,()#(8#)$/#04-#01%"3%"6#
4"0# /4)%"62L# X41&:/,,# "()/0# %"# 4# ,/))/1# )(# K14-#
0/&<1%.%"6#)$/#)1%'#4"0#)$/%1#&)4-#%"#^,(1/"</9#E!)#:4&#
*";*/&)%("4.,-#)$/#+(&)#:("0/18*,#/P<%)%"6#$(,%04-#
(8#+-#,%8/9L
# !)#:4&"L)#,("6#48)/1#)$/-#+/)#)$4)#K14-#4"0#745%&#
&/)#(88#("#("/#(8#)$/%1#(:"#/P'/0%)%("&9#EB1(+')/0#
.-# "(&)4,6%4# 8(1# !)4,-# 4"0# $%&# 0%&)4")# '4&)2L# K14-#
:1%)/&2#)$/-#01(5/#81(+#g4',/&#)(#S/<</2#8(,,(:%"6#
%"#)$/#8(()&)/'&#(8#7(*6,4&#4"0#=1%(,%2#%"#&/41<$#(8#
J46"4#K14/<%49#M$/-#)145/,/0#("#'1%+%)%5/#1(40&#%"#
4#)%"-#^%4)2#745%&#'*88%"6#4:4-#4)#$%&#M*&<4"#<%641&#
>E(*1#1(*)/#%&#&)1/:"#:%)$#$*"01/0&#(8#*"&+(3/4.,/#
<%641&L?2# :%)$# <('%/&# (8# K/(16/# K%&&%"6L&# O2& ,D*&
G'%$"%& 3*"# 4"0# S/"(1+4")L&# 5"& !4"%)*& !40/*# 4"0#
K'2"A*&8&,4"F*4-&7.P;(7$*&*,&7"&5(/"%$*#.-#)$/%1#&%0/9#!"#4#
,/))/1#)(#4"#/0%)(1#4)#)$/#g/:#c(13#M%+/&#%"#UYYA2#
K14-#/P',4%"/0#)$4)2#ED/#_745%&`#4,:4-&#)(,0#+/#)$4)#
7(*6,4&# $40# "/5/1# &/)# 8(()# %"# )$/# H4,/")(9# W$/"#
!15%"6#4"0#!#%"#UY[V#+40/#4#N(*1"/-#%")(#X4,4.1%42#
F4&%,%<4)4# 4"0# I'*,%42# %"# )$/# &)/'&# (8# 7(*6,4&# 4"0#
B%"(#=1%(,%2#"()$%"6#:(*,0#%"0*</#$%+#)(#/P',(1/#
)$/# H4,/")(# &(*)$# (8# S/<</G# I&# 841# 4&# !15%"6# :4&#
<("</1"/02# $/# (",-# :%&$/0# )(# 6(# :$/1/# 7(*6,4&#
$40#4,&(#.//"9L#I)#)$/#)%+/2#K14-#"/5/1#:(*,0#$45/#
%+46%"/0#)$4)#&$/#)((#+%6$)#&/)),/#&(*)$#(8#S/<</9#
# M$/-# &'/")# "/41,-# )$1//# ://3&# ("# )$/# 1(402#
)145/1&%"6#X4,4.1%42#F4&%,%<4)4#4"0#B*6,%49#K14-#3/')#
4# 8146+/")41-# 4<<(*")# (8# )$4)# )1%'2# 4"0# :4&# )43/"#
.-# )$/# 4*&)/1%)-# (8# )$/# ,4"0&<4'/2# )$/# <1*+.,%"6#
41<$%)/<)*1/2#4"0#)$/#:%,0#./4*)-#(8#)$/#&/49#M$/-#
'4&&/0#)$1(*6$#F%&%6"4"(2#:$/1/#=1%(,%#&4%0#K1//3#
'()&#:/1/#+40/f#M414")(2#./<4*&/#7(*6,4&#<,4%+/0#
%)#:4&#:$/1/#)$/#<4)#:4&#8%1&)#%")1(0*</0#)(#C*1('/#
81(+# C6-')f# 4"0# ^1/0/1%<3# !!L&# <4&),/# %"# M14"%2##
4#&/4'(1)#("#)$/#I01%4)%<9#J/4,&#:/1/#&%+',/2#(8)/"#
"()$%"6# +(1/# )$4"# .1/402# <$//&/2# 4"0# :%"/9# S%3/#
)$/#$()/,&#T#E0/'1/&&%"6L#4"0#E)(+.,%3/L#T#)$/-#:/1/#
4,&(# &(+/)%+/&# 0%&4''(%")%"69# B1(5%&%("&# :/1/#
&<41</9#E!8#-(*#&//#4#.412#$(:/5/1#'1%+%)%5/2#&)('#4)#
%)2#)$/1/#:("L)#./#4"()$/1#8(1#iA#+%,/&kL
# F*)# )$/1/# :/1/# )1/4&*1/&2# )((e# 4# )1*<3# &)('# %"#
M1/.%&4<</# ("# )$/# !("%4"# :$/1/# )$/-# 4)/# (,%5/&2#
41)%<$(3/&2# ;4'-/$(,,'2# 4"0# #"//D*4'%$& "7& 6'4%'# >EK%4")#
'/)1(,#)14%,/1&#014:"#*'2#,%5/,-#,(11-+/"2#(,/4"0/1&#
%"#'()&#("#)$/#1(40:4-2#1*&)%<#$(1&#0L(/*51/&2L#K14-#
:1()/?f#4,("6#)$/#;*4-#%"#M414")(#:$/1/2#)$/-#$40#/'CC*&
"7&6'4%'#T#+*&&/,&#('/"/0#(5/1#4#5/1-#$()#8%1/#4"0#8%,,/0#
:%)$# 4# +%P)*1/# (8# )$/%1# (:"# N*%</&2# .1/40<1*+.&2#
641,%<2# '41&,/-2# 4"0# '41+/&4"2# &'1%"3,/0# :%)$# (,%5/#
(%,#4"0#.1(:"/0#%"#4#$()#(5/"#T#E'/1$4'&#)$/#+(&)#
'/18/<)#0%&$#:/#4)/L#>4#1/<%'/#%"<,*0/0#%"#>'%*2&?4'#&
"&@**)?f#)$/#&)1("62#,%6$),-#&'413,%"6#:%"/&#(8#H454f#
4"0#)$/#0/<(14)%5/#'4&)1%/&#(8#S/<</9#
# M$/# 4''1(4<$# )(# )$4)# .41(;*/# <%)-2# 4"0# )$/#
E+%14<*,(*&#,*<%0%)-#(8#)$/#I'*,%4"#&3-L#,/8)#4#0//'#
%+'1/&&%("#("#K14-9#E="/#<(*,0#&//#4#,("6#:4-2L#&$/#
:1()/2#E)$/#.1%,,%4")#,%)),/#:$%)/#<*./&2#'/4&4")#$*)&2#
,/40%"6#)$/#/-/#%")(#)$/#841)$/&)#0%&)4"</9#F/4*)%8*,#
:$%)/# <4&)/,,4)/0# 841+&# 4''/41/02# /"<,(&/0# %"#
.4&)%("#:4,,&2#:%)$#&;*41/#)(:/1&2#<1/"/,,4)/09#M$/"#
_#\@#`#####
)$/#0/,%6$)#(8#)$/#)(:"O5%,,46/&2#,("6#,("6#&)1//)&#(8#
04hh,%"6# :$%)/# )/114</0# $(*&/&# >(<<4&%("4,,-# '4,/#
.,*/2#'4,/#<$1(+/2#(1#:4&$/0#:%)$#'%"3?2#5%&)4&#(8#
1/<)%,%"/41#:$%)/"/&&#'*"<)*4)/0#:%)$#.,4<3#641./0#
'/4&4")&#4)#)$/%1#0((1:4-&2#&%))%"6#("#)$/#&)1//)9L#
# M$(*6$#745%&#3/')#)(#$%&#:(10#4"0#)$/-#0%0"L)#
5/")*1/# &(*)$# (8# S/<</2# %)# :4&# K14-L&# 8%1&)# )4&)/#
(8# )$/# H4,/")(2# )$4)# 8(1/%6"# ,4"0&<4'/# )$4)# :(*,0#
/5/")*4,,-# ./<(+/# $/1# $(+/9# !"# 4# ,/))/1# )(# $/1#
+()$/1# %"# UYZV2# ("/# -/41# 48)/1# 745%&L&# 0/4)$# 4"0#
N*&)#./8(1/#&$/#4"0#$/1#'41)"/12#)$/#F/,6%4"#&<*,')(1#
g(1+4"#J(++/"&2#+40/#)$/%1#8%1&)#)1%'#)(#B*6,%4#
%"#&/41<$#(8#4#',4</#)(#,%5/#4"0#:(132#K14-#:1()/2#
E^*""-# !# &$(*,0# $45/# /P',(1/0# )$4)# 1/6%("# :%)$#
745%&9# I"0# ("/# (1# ):(# ',4</&# $45/# %"0/,%.,-# 8%P/0#
)$/+&/,5/&#%"#+-#+/+(1-9L#
# 745%&#:(*,0#4,&(#%")1(0*</#K14-#)(#C,#Q/"01/,,#
%"# X4)4,("%42# :$/1/# $/# &'/")# &*++/1&# :%)$# )$/#
&<*,')(1# I'/,O,/&O^/"(&4# 4"0# $%&# :%8/# g%<(,/9##
!)#:4&#$/1/2#)(:410#)$/#/"0#(8#$%&#,%8/2#)$4)#745%&L&#
%")/1/&)#%"#141/#.((3&#4"0#8((0#&//+/0#)(#<("5/16/9#
745%&#./<4+/#4<;*4%")/0#:%)$#)$/#^/"(&4&#)$1(*6$#
$%&# 81%/"0# )$/# '(/)# 4"0# '*.,%&$/1# S*<%/"# H<$/,/19##
D/#:(*,0#&//#)$/+#("#$%&#)1%'&#)(#B41%&2#:$/1/#$/#
(8)/"# '*1<$4&/0# ^/"(&4L&# &<*,')*1/&2# %"<,*0%"6# 5"&
L*#;Q,*&;'(4/D"--R*&;"4&7*&O*"(&L*#;-2#:$%<$#$/#645/#
)(# K14-9# !)# <4"# &)%,,# ./# 8(*"0# ("# )$/# +4"),/'%/</#
(5/1#)$/#0%"%"6#1((+#)4.,/#4)#H'%6(,%hh%2#K14-#4"0#
J(++/"&#841+$(*&/#%"#B*6,%49#
# ^/"(&4# ,%3/0# )(# 1/)*1"# )$/# 845(1# .-# '*1<$4&%"6#
745%&L&# .((3&9# ="# ("/# (<<4&%("2# %"# S("0("2# $/#
4&3/0#745%&#%8#$/#$40#4#<('-#(8#74")/L&#K$,"&S('F"9#
745%&# ('/"/0# ("/# (8# $%&# .((3<4&/&# 4"0# '1(0*</0##
4#8%1&)#/0%)%("#<('-9#^/"(&4#:4&#&'/,,.(*"09#EW$4)L&#
%)# :(1)$lL# $/# 4&3/09# I<<(10%"6# )(# g%<(,/2# :$(#
)(,0# +/# )$/# &)(1-# %"# $/1# J(")+41)1/# 4'41)+/")2#
<1(:0/0# :%)$# ^/"(&4L&# &<*,')*1/&2# E!15%"6# ('/"/0#
)$/# .((32# 1/40# 4# +-&)/1%(*&# &%6"# ("# )$/# )%),/# '46/#
4"0#+/")%("/0#4#&*+9#I'/,O,/&#'4%02#(8#<(*1&/9#M$4)#
&4+/#"%6$)2#4)#&*''/12#!15%"6#&4%02#b!8#-(*#:4")#)(#
&/,,#+/#)$/#.((3#.4<32#!L,,#'4-#-(*#0(*.,/9dL
# 745%&# 0/,%6$)/0# %"# 8*/,,%"6# ()$/1&L# '4&&%("&9##
D/#:(*,02#(5/1#)$/#-/41&2#<(")1%.*)/#4#UZ)$#</")*1-#
B/)141<$2# S*%&# 0/# K("6(14L&# 3'7*)")*-2# 4"0# 5"-& ,4*-#
#(-"-& (7,$#"-& /"-,*77"%"-# .-# ^14"<%&<(# 0/# m*/5/0(2#
_#\j#`#
'*.,%&$/0# %"# U\\@2# )(# ^/"(&4L&# '/1&("4,# ,%.141-9##
!"# 4# &%+%,41# :4-2# K14-# 4<;*%1/0# 5*-& 3*/4*,-& )*& 7"&
I($-$%*& I'#,'$-*# .-# B%/11/# 7*'%"2# 4# [email protected]\# <,4&&%<# (8#
^1/"<$#<((3%"69#
# !)#:4&#%"#C,#Q/"01/,,#)$4)#745%&#./64"#<(,,/<)%"6#
1/<%'/&2# *&*4,,-# 1/,4-/0# )(# g%<(,/# .-# )$/%1# <((3#
4"0#$(*&/3//'/1#I"%)42#%"#4#&+4,,#.,4<3#"()/.((32#
/5/")*4,,-# /0%)/0# .-# K14-# 4"0# '*.,%&$/0# 48)/1#
$%&# 0/4)$# *"0/1# )$/# )%),/# P& I","7"%& I''N*42& O''NT&&
P&I'77*/,$'%&'6&G#;'--$J7*&U*/$;*-9#J4"-#(8#)$/#1/<%'/&#
4''/41#%"#>'%*2&?4'#&"&@**)#4"0#+*<$#(8#)$/#.((3L&#
&'%1%)# %&# /5%0/")# %"# K14-L&# :(139# 745%&# $40# )$/#
&4+/# 0/5()%("# )(# ,(<4,# %"61/0%/")&# 4"0# +/)$(0&2##
4"# *"<(+'1(+%&%"6# 4))%)*0/# )(:410# $%&# $(+/#
4*0%/"</# >1/<%'/&# 41/# "()# 404')/0# 8(1# )$/# F1%)%&$#
3%)<$/"2#:$%<$#/P',4%"&#)$/#.((3L&#&*.)%),/?2#4"0#4#
<("</1"#)$4)#)$/#1/<%'/&#$/#:4&#1/<(10%"6#4"0#)$/#
:4-#(8#,%8/#)$4)#&*&)4%"/0#)$/+#:4&#84&)#0%&4''/41%"69#
# Ec(*#$45/#"(#%0/4#(8#$(:#/,4.(14)/#)$/&/#0%&$/&#
41/# .*)# !# )$%"3# %)# %&# _&%<`# 6((0# %0/4# )(# :1%)/# )$/+#
0(:"# ./8(1/# )$/-# 41/# ,(&)# (1# &*.+/16/0# %"# )$/#
%")/1"4)%("4,# )%0/2L# :1()/# 745%&# %"# 4# UYZj# ,/))/1#
)(# K14-9# !)# %"<,*0/&# 1/<%'/&# 8(1# &"4%,&2# <4,8L&# $/402#
14..%)# :%)$# &"4%,&# 4"0# <$(<(,4)/# &4*</2# )1%'/2#
'41)1%06/2# 4"0# +4"-# 541%4)%("&# (8# &4,)# <(09# !"# $%&#
1/<%'/# 8(1# '4/,,4# $/# :1%)/&2# E!)# %&# +(&)# %+'1(.4.,/#
)$4)# -(*# :%,,# 8%"0# /%)$/1# 4"# '77"# (1# 4"-# (8# )$/# 8%&$#
:$%<$# !# $45/# +/")%("/02# &(# '/1$4'&# -(*# $40# N*&)#
./))/1#1/40#4.(*)#)$%&#0%&$#4"0#:4%)#)%,,#-(*#<(+/#)(#
X4)4,("%4#)(#/4)#%)9L#="#'1(<*1%"6#4#14..%)#$/#405%&/&#
)$*&e#EC%)$/1#.1//0#14..%)&#-(*1&/,8#(1#)1-#)(#&$(()#
("/#(8#)$/#8/:#:$%<$#$45/#/&<4'/0#)$/#',46*/9L#
# M$/#.((3#:4&#8%1&)#'*.,%&$/0#%"#4#,%+%)/0#/0%)%("#
(8#UZ[#<('%/&#:%)$#4#&/1%/&#(8#/"6145%"6&#.-#g%<(,/#
>4"0#$4&#&%"</#.//"#1/'*.,%&$/0#.-#B1(&'/<)#F((3&#
:%)$# 745%&L&# +/+(%1&# %"# 4# +(1/# *&/1# 81%/"0,-#
'4'/1.4<3# /0%)%("?9# EM$%&# ,%)),/# .((32L# K14-# :1()/#
%"# )$/# %")1(0*<)%("2# E%&# "()# &(# +*<$# 4# <(,,/<)%("#
(8# <*,%"41-# 40+("%)%("&# 4&# )$/# 0%&)%,,/0# /&&/"</# (8#
4# 84&)# 54"%&$%"6# :4-# (8# ,%8/9L# !)# %&# 4,&(# 4# +415/,# )(#
,((3#4)9#!"#3//'%"6#:%)$#745%&L&#&'%1%)#%)#$4&#./<(+/#
4# <(,,/<)(1L&# %)/+f# 4# &%"6,/# <('-# (8# )$/# (1%6%"4,# %&#
454%,4.,/# 81(+# 4# .((3&$('# %"# )$/# S(%1/# Q4,,/-# 8(1#
N*&)#*"0/1#nU2AAA9
# I#&%+%,41#%+'*,&/#T#4"#4,+(&)#4")$1('(,(6%<4,#
4''1(4<$#T#4"%+4)/0#K14-L&#(:"#1/<%'/#<(,,/<)%"6#
)$1(*6$(*)# )$/# J/0%)/114"/4"9# I+/1%<4"# :1%)/1#
4"0# 6(*1+4"0# ]%+# D411%&("# $4&# 0/&<1%./0# K14-#
4&# E4# :4"0/1%"6# F1*</# X$4):%"# (8# 8((09L# !"# )$/#
%")1(0*<)%("# )(# >'%*2& ?4'#& "& @**)# &$/# :1%)/&2# E!)#
&(+/)%+/&#&//+&#4&#%8#!#$45/#.//"#1/&<*%"6#4#8/:#
&)14"0&# 81(+# 4# 8(1+/1# 4"0# +(1/# 0%,%6/")# :4-# (8#
,%8/2# "(:# ./%"6# 84)4,,-# /1(0/0# .-# 4"# /")%1/,-# "/:#
&/)#(8#54,*/&9#I&#:%)$#&)*0/")&#(8#+*&%<#:$(#1/<(10#
(,0#&("6&#:$%<$#41/#"(#,("6/1#&*"62#&(("#&(+/#(8#
)$/# )$%"6&# !# 1/<(10# :%,,# 4,&(# $45/# 54"%&$/09L# !)# %&#
'/1$4'&#%")/1/&)%"6#)$4)#K14-#<$(&/#)$/#4"4,(6-#(8#
(,0#&("6&2#./<4*&/#%)#:4&#1(*6$,-#0*1%"6#)$/#&4+/#
'/1%(0#)$4)#&$/#4"0#745%&#)((3#)$/%1#)1%'#)(#S/<</#
)$4)#I+/1%<4"#/)$"(+*&%<(,(6%&)#I,4"#S(+4P#4"0#
)$/#!)4,%4"#4")$1('(,(6%&)#C1"/&)(#0/#J41)%"(#:/1/#
)145/,,%"6# )$1(*6$# )$/# &(*)$# (8# !)4,-2# %"<,*0%"6#
B*6,%42#1/<(10%"6#8(,3#+*&%<9
# !"#UY\A#K14-#4"0#J(++/"&#&/)),/0#%"#)$/#841#
_#\i#`
&(*)$#(8#B*6,%42#4.(*)#ZA#3%,(+/)/1&#81(+#S/<</2#
"/41# :$4)# %&# 3"(:"# 4&# ?$%$J(-& L*44"*# (1# S4"0L&#
C"09# M$/%1# 81%/"0&# <("&%0/1/0# %)# 4# E0/&</")# %")(#
I81%<4L9#K14-#0/&<1%./0#)$/#,4"0&<4'/#T#0(+%"4)/0#
.-#(,%5/#)1//&#4"0#)$/#:%,0#',4")&#4"0#$/1.&#(8#)$/#
#"//D$"#T#4&#4"#E%+46/#(8#:%,0/1"/&&L9#M$/#X4)4,4"#
<((3.((3# $40# N*&)# .//"# '*.,%&$/02# 4"0# K14-# $40#
,416/,-# <(+',/)/0# )$/# 8%1&)# 0148)# (8# $/1# +46"*+#
('*&2#>'%*2&?4'#&"&@**)9#!"0//02#.-#UY\A#&$/#:4&#
4,1/40-# ,((3%"6# 8(1# 4# '*.,%&$/12# )$(*6$# /5/1-("/#
&$/# 4''1(4<$/0# <("&%0/1/0# )$/# .((3# 841# )((#
*"<("5/")%("4,9#!)#:(*,0#)43/#$/1#<,(&/#)(#U[#-/41&#
)(#8%"0#4#'*.,%&$/19#
# !"# $/1# <$4')/1# ("# 745%&2# &$/# :1%)/&2# (8# $%&#
<((3%"6#>:$%<$#&$/#4))1%.*)/0#)(#$%&#J/0%)/114"/4"#
'4&)?2# )$4)# %)# &)1*<3# 4# .4,4"</# ./)://"# E,%./14,%)-#
4"0# 81*64,%)-L9# K14-# <("&%0/1/0# )$%&# )(# ./# E)$/#
+4&)/1O3/-#)(#)$/#41)#(8#<((3%"69L#!)#:4&#4"#%0/4#)$4)#
:(*,0#'/1+/4)/#$/1#:(13#>>'%*2&?4'#&"&@**)#:4&#
(1%6%"4,,-#)%),/0#?"-,$%A&"%)&?*"-,$%A?2#4#'(,41%)-#)$4)#
&$/#<4+/#)(#&//#4&#)$/#8(*"04)%("#(8#J/0%)/114"/4"#
<*%&%"/9#^(1#K14-2#84&)%"6#4"0#$*"6/1#T#:$/)$/1#4#
8*"<)%("#(8#'(5/1)-2#1%)*4,2#(1#&/4&("#T#:/1/#"(#,/&&#
%+'(1)4")#)$4"#)$/#'41)%<*,41%)%/&#(8#&,4*6$)/1%"6#4#
'%6#(1#+43%"6#'4/,,49#!"#$/1#:(132#&$/#&$(:&#)$4)#
)$/&/# ):(# &//+%"6,-# '(,41# (''(&%)/&# 41/# %"# 84<)#
%")%+4)/,-#<(""/<)/02#)$4)#)$/#',/4&*1/#(8#8/4&)%"6#
%&#0/1%5/0#%"#'41)#81(+#)$/#1/4,%)-#4"0#+/+(1-#(8#
$*"6/12#(8#'1%54)%("2#(8#'(5/1)-9#
# !"# $/1# %")1(0*<)%("# )(# P& I","7"%& I''N*42& O''N#
&$/# :1%)/&2# EM$/1/# %&# 4"# /P)1/+%)-# %"# )$/# <,%+4)/#
)$/1/# 1/8,/<)/0# %"# 5%(,/")# '$-&%<4,# )14"&%)%("&2#
:$/1/# 84&)%"6# T# 4<)*4,# '$-&%<4,# '1%54)%("# 41%&%"6#
81(+# /P'(&*1/# )(# )$/# $4,,*<%"4)(1-# /88/<)&# (8#
$/4)2# 0*&)2# ,%6$)# T# 6%5/&# ',4</# "()# )(# N*&)# /4)%"62##
.*)# )(# 8/4&)%"69L# F*)# 4# 8/4&)# <(*,0# ./# 4&# &%+',/# 4&#
4#$4"08*,#(8#)(+4)(/&2#4#',4)/#(8#61%,,/0#&410%"/&2#
.1/40#4"0#:%"/9#
# >'%*2& ?4'#& "& @**)# ./41&# 745%&L&# %+'1%")# "()#
(",-# %"# %)&# 4''1(4<$# )(# 8((0# 4"0# <((3%"62# .*)# %"#
)$/# <148)&+4"&$%'# (8# )$/# .((3# %)&/,82# /,/64"),-#
%,,*&)14)/0# .-# X(1%""4# H416((09# K14-# /5/"#
1/'1(0*</&# )$/# )%),/# '46/# (8# 4# UZ)$# </")*1-#
)/P)# >V(*-,$'%& )*& P#'4& )*& )'-& *%"#'4")'-2# 4*)$(1#
*"3"(:"?#81(+#745%&L&#,%.141-9#
# I8)/1# )$/# '*.,%<4)%("# (8# >'%*2& ?4'#& "& @**)#
C,%h4./)$#745%0#&/")#4#,/))/1#)(#K14-#<("614)*,4)%"6#
$/1#("#)$/#.((3L&#&*<</&&9#E!#)$%"3#(8)/"#(8#!15%"6#
745%&#4"0#+%&&#$%&#*"1%54,,/0#3"(:,/06/#(8#!)4,%4"#
<((3/1-# .((3&2L# &$/# :1()/9# !)# %&# )$/# (",-# 3"(:"#
,/))/1#81(+#745%0#)(#K14-2#)$(*6$#%)#%&#./,%/5/0#)$4)#
)$/#):(#:(+/"#+/)#4)#4#0%""/1#4)#745%&L&#%"#UYZU9#
!8#)$/-#0%02#"/%)$/1#,/8)#4"#4<<(*")#(8#%)9#
# !"#J41<$#(8#)$4)#-/41#745%&#./64"#&/"0%"6#J&#
745%0# &(+/# (8# $%&# <4)4,(6*/&2# 4"0# %"# ("/# (8# $%&#
,/))/1&# :1()/2# E!# :("0/1# :$/)$/1# .-# 4"-# <$4"</#
-(*# :(*,0# <41/# )(# $45/# 0%""/1# :%)$# +/# $/1/# ("#
^1%04-# "/P)# 4"0# )(# +//)# 4# 61/4)# 81%/"0# (8# +%"/2#
B4)%/"</#K14-2#:$(#:(*,0#5/1-#+*<$#,%3/#)(#+43/#
-(*1# 4<;*4%")4"</l# M$/# 0%""/12# %8# -(*# <4"# <(+/2#
:%,,#./#+(&)#&%+',/9L#
# !"# $%&# )-'%<4,,-# *"4&&*+%"6# :4-2# $/##
400/02#E!#&$(*,0#"()#4))/+')#4"-#1/<%'/#81(+#-(*1#
<((3/1-#.((3&9L#
_#\[#`
'*.,%&$/0# %"# U\\@2# )(# ^/"(&4L&# '/1&("4,# ,%.141-9##
!"# 4# &%+%,41# :4-2# K14-# 4<;*%1/0# 5*-& 3*/4*,-& )*& 7"&
I($-$%*& I'#,'$-*# .-# B%/11/# 7*'%"2# 4# [email protected]\# <,4&&%<# (8#
^1/"<$#<((3%"69#
# !)#:4&#%"#C,#Q/"01/,,#)$4)#745%&#./64"#<(,,/<)%"6#
1/<%'/&2# *&*4,,-# 1/,4-/0# )(# g%<(,/# .-# )$/%1# <((3#
4"0#$(*&/3//'/1#I"%)42#%"#4#&+4,,#.,4<3#"()/.((32#
/5/")*4,,-# /0%)/0# .-# K14-# 4"0# '*.,%&$/0# 48)/1#
$%&# 0/4)$# *"0/1# )$/# )%),/# P& I","7"%& I''N*42& O''NT&&
P&I'77*/,$'%&'6&G#;'--$J7*&U*/$;*-9#J4"-#(8#)$/#1/<%'/&#
4''/41#%"#>'%*2&?4'#&"&@**)#4"0#+*<$#(8#)$/#.((3L&#
&'%1%)# %&# /5%0/")# %"# K14-L&# :(139# 745%&# $40# )$/#
&4+/# 0/5()%("# )(# ,(<4,# %"61/0%/")&# 4"0# +/)$(0&2##
4"# *"<(+'1(+%&%"6# 4))%)*0/# )(:410# $%&# $(+/#
4*0%/"</# >1/<%'/&# 41/# "()# 404')/0# 8(1# )$/# F1%)%&$#
3%)<$/"2#:$%<$#/P',4%"&#)$/#.((3L&#&*.)%),/?2#4"0#4#
<("</1"#)$4)#)$/#1/<%'/&#$/#:4&#1/<(10%"6#4"0#)$/#
:4-#(8#,%8/#)$4)#&*&)4%"/0#)$/+#:4&#84&)#0%&4''/41%"69#
# Ec(*#$45/#"(#%0/4#(8#$(:#/,4.(14)/#)$/&/#0%&$/&#
41/# .*)# !# )$%"3# %)# %&# _&%<`# 6((0# %0/4# )(# :1%)/# )$/+#
0(:"# ./8(1/# )$/-# 41/# ,(&)# (1# &*.+/16/0# %"# )$/#
%")/1"4)%("4,# )%0/2L# :1()/# 745%&# %"# 4# UYZj# ,/))/1#
)(# K14-9# !)# %"<,*0/&# 1/<%'/&# 8(1# &"4%,&2# <4,8L&# $/402#
14..%)# :%)$# &"4%,&# 4"0# <$(<(,4)/# &4*</2# )1%'/2#
'41)1%06/2# 4"0# +4"-# 541%4)%("&# (8# &4,)# <(09# !"# $%&#
1/<%'/# 8(1# '4/,,4# $/# :1%)/&2# E!)# %&# +(&)# %+'1(.4.,/#
)$4)# -(*# :%,,# 8%"0# /%)$/1# 4"# '77"# (1# 4"-# (8# )$/# 8%&$#
:$%<$# !# $45/# +/")%("/02# &(# '/1$4'&# -(*# $40# N*&)#
./))/1#1/40#4.(*)#)$%&#0%&$#4"0#:4%)#)%,,#-(*#<(+/#)(#
X4)4,("%4#)(#/4)#%)9L#="#'1(<*1%"6#4#14..%)#$/#405%&/&#
)$*&e#EC%)$/1#.1//0#14..%)&#-(*1&/,8#(1#)1-#)(#&$(()#
("/#(8#)$/#8/:#:$%<$#$45/#/&<4'/0#)$/#',46*/9L#
# M$/#.((3#:4&#8%1&)#'*.,%&$/0#%"#4#,%+%)/0#/0%)%("#
(8#UZ[#<('%/&#:%)$#4#&/1%/&#(8#/"6145%"6&#.-#g%<(,/#
>4"0#$4&#&%"</#.//"#1/'*.,%&$/0#.-#B1(&'/<)#F((3&#
:%)$# 745%&L&# +/+(%1&# %"# 4# +(1/# *&/1# 81%/"0,-#
'4'/1.4<3# /0%)%("?9# EM$%&# ,%)),/# .((32L# K14-# :1()/#
%"# )$/# %")1(0*<)%("2# E%&# "()# &(# +*<$# 4# <(,,/<)%("#
(8# <*,%"41-# 40+("%)%("&# 4&# )$/# 0%&)%,,/0# /&&/"</# (8#
4# 84&)# 54"%&$%"6# :4-# (8# ,%8/9L# !)# %&# 4,&(# 4# +415/,# )(#
,((3#4)9#!"#3//'%"6#:%)$#745%&L&#&'%1%)#%)#$4&#./<(+/#
4# <(,,/<)(1L&# %)/+f# 4# &%"6,/# <('-# (8# )$/# (1%6%"4,# %&#
454%,4.,/# 81(+# 4# .((3&$('# %"# )$/# S(%1/# Q4,,/-# 8(1#
N*&)#*"0/1#nU2AAA9
# I#&%+%,41#%+'*,&/#T#4"#4,+(&)#4")$1('(,(6%<4,#
4''1(4<$#T#4"%+4)/0#K14-L&#(:"#1/<%'/#<(,,/<)%"6#
)$1(*6$(*)# )$/# J/0%)/114"/4"9# I+/1%<4"# :1%)/1#
4"0# 6(*1+4"0# ]%+# D411%&("# $4&# 0/&<1%./0# K14-#
4&# E4# :4"0/1%"6# F1*</# X$4):%"# (8# 8((09L# !"# )$/#
%")1(0*<)%("# )(# >'%*2& ?4'#& "& @**)# &$/# :1%)/&2# E!)#
&(+/)%+/&#&//+&#4&#%8#!#$45/#.//"#1/&<*%"6#4#8/:#
&)14"0&# 81(+# 4# 8(1+/1# 4"0# +(1/# 0%,%6/")# :4-# (8#
,%8/2# "(:# ./%"6# 84)4,,-# /1(0/0# .-# 4"# /")%1/,-# "/:#
&/)#(8#54,*/&9#I&#:%)$#&)*0/")&#(8#+*&%<#:$(#1/<(10#
(,0#&("6&#:$%<$#41/#"(#,("6/1#&*"62#&(("#&(+/#(8#
)$/# )$%"6&# !# 1/<(10# :%,,# 4,&(# $45/# 54"%&$/09L# !)# %&#
'/1$4'&#%")/1/&)%"6#)$4)#K14-#<$(&/#)$/#4"4,(6-#(8#
(,0#&("6&2#./<4*&/#%)#:4&#1(*6$,-#0*1%"6#)$/#&4+/#
'/1%(0#)$4)#&$/#4"0#745%&#)((3#)$/%1#)1%'#)(#S/<</#
)$4)#I+/1%<4"#/)$"(+*&%<(,(6%&)#I,4"#S(+4P#4"0#
)$/#!)4,%4"#4")$1('(,(6%&)#C1"/&)(#0/#J41)%"(#:/1/#
)145/,,%"6# )$1(*6$# )$/# &(*)$# (8# !)4,-2# %"<,*0%"6#
B*6,%42#1/<(10%"6#8(,3#+*&%<9
# !"#UY\A#K14-#4"0#J(++/"&#&/)),/0#%"#)$/#841#
_#\i#`
&(*)$#(8#B*6,%42#4.(*)#ZA#3%,(+/)/1&#81(+#S/<</2#
"/41# :$4)# %&# 3"(:"# 4&# ?$%$J(-& L*44"*# (1# S4"0L&#
C"09# M$/%1# 81%/"0&# <("&%0/1/0# %)# 4# E0/&</")# %")(#
I81%<4L9#K14-#0/&<1%./0#)$/#,4"0&<4'/#T#0(+%"4)/0#
.-#(,%5/#)1//&#4"0#)$/#:%,0#',4")&#4"0#$/1.&#(8#)$/#
#"//D$"#T#4&#4"#E%+46/#(8#:%,0/1"/&&L9#M$/#X4)4,4"#
<((3.((3# $40# N*&)# .//"# '*.,%&$/02# 4"0# K14-# $40#
,416/,-# <(+',/)/0# )$/# 8%1&)# 0148)# (8# $/1# +46"*+#
('*&2#>'%*2&?4'#&"&@**)9#!"0//02#.-#UY\A#&$/#:4&#
4,1/40-# ,((3%"6# 8(1# 4# '*.,%&$/12# )$(*6$# /5/1-("/#
&$/# 4''1(4<$/0# <("&%0/1/0# )$/# .((3# 841# )((#
*"<("5/")%("4,9#!)#:(*,0#)43/#$/1#<,(&/#)(#U[#-/41&#
)(#8%"0#4#'*.,%&$/19#
# !"# $/1# <$4')/1# ("# 745%&2# &$/# :1%)/&2# (8# $%&#
<((3%"6#>:$%<$#&$/#4))1%.*)/0#)(#$%&#J/0%)/114"/4"#
'4&)?2# )$4)# %)# &)1*<3# 4# .4,4"</# ./)://"# E,%./14,%)-#
4"0# 81*64,%)-L9# K14-# <("&%0/1/0# )$%&# )(# ./# E)$/#
+4&)/1O3/-#)(#)$/#41)#(8#<((3%"69L#!)#:4&#4"#%0/4#)$4)#
:(*,0#'/1+/4)/#$/1#:(13#>>'%*2&?4'#&"&@**)#:4&#
(1%6%"4,,-#)%),/0#?"-,$%A&"%)&?*"-,$%A?2#4#'(,41%)-#)$4)#
&$/#<4+/#)(#&//#4&#)$/#8(*"04)%("#(8#J/0%)/114"/4"#
<*%&%"/9#^(1#K14-2#84&)%"6#4"0#$*"6/1#T#:$/)$/1#4#
8*"<)%("#(8#'(5/1)-2#1%)*4,2#(1#&/4&("#T#:/1/#"(#,/&&#
%+'(1)4")#)$4"#)$/#'41)%<*,41%)%/&#(8#&,4*6$)/1%"6#4#
'%6#(1#+43%"6#'4/,,49#!"#$/1#:(132#&$/#&$(:&#)$4)#
)$/&/# ):(# &//+%"6,-# '(,41# (''(&%)/&# 41/# %"# 84<)#
%")%+4)/,-#<(""/<)/02#)$4)#)$/#',/4&*1/#(8#8/4&)%"6#
%&#0/1%5/0#%"#'41)#81(+#)$/#1/4,%)-#4"0#+/+(1-#(8#
$*"6/12#(8#'1%54)%("2#(8#'(5/1)-9#
# !"# $/1# %")1(0*<)%("# )(# P& I","7"%& I''N*42& O''N#
&$/# :1%)/&2# EM$/1/# %&# 4"# /P)1/+%)-# %"# )$/# <,%+4)/#
)$/1/# 1/8,/<)/0# %"# 5%(,/")# '$-&%<4,# )14"&%)%("&2#
:$/1/# 84&)%"6# T# 4<)*4,# '$-&%<4,# '1%54)%("# 41%&%"6#
81(+# /P'(&*1/# )(# )$/# $4,,*<%"4)(1-# /88/<)&# (8#
$/4)2# 0*&)2# ,%6$)# T# 6%5/&# ',4</# "()# )(# N*&)# /4)%"62##
.*)# )(# 8/4&)%"69L# F*)# 4# 8/4&)# <(*,0# ./# 4&# &%+',/# 4&#
4#$4"08*,#(8#)(+4)(/&2#4#',4)/#(8#61%,,/0#&410%"/&2#
.1/40#4"0#:%"/9#
# >'%*2& ?4'#& "& @**)# ./41&# 745%&L&# %+'1%")# "()#
(",-# %"# %)&# 4''1(4<$# )(# 8((0# 4"0# <((3%"62# .*)# %"#
)$/# <148)&+4"&$%'# (8# )$/# .((3# %)&/,82# /,/64"),-#
%,,*&)14)/0# .-# X(1%""4# H416((09# K14-# /5/"#
1/'1(0*</&# )$/# )%),/# '46/# (8# 4# UZ)$# </")*1-#
)/P)# >V(*-,$'%& )*& P#'4& )*& )'-& *%"#'4")'-2# 4*)$(1#
*"3"(:"?#81(+#745%&L&#,%.141-9#
# I8)/1# )$/# '*.,%<4)%("# (8# >'%*2& ?4'#& "& @**)#
C,%h4./)$#745%0#&/")#4#,/))/1#)(#K14-#<("614)*,4)%"6#
$/1#("#)$/#.((3L&#&*<</&&9#E!#)$%"3#(8)/"#(8#!15%"6#
745%&#4"0#+%&&#$%&#*"1%54,,/0#3"(:,/06/#(8#!)4,%4"#
<((3/1-# .((3&2L# &$/# :1()/9# !)# %&# )$/# (",-# 3"(:"#
,/))/1#81(+#745%0#)(#K14-2#)$(*6$#%)#%&#./,%/5/0#)$4)#
)$/#):(#:(+/"#+/)#4)#4#0%""/1#4)#745%&L&#%"#UYZU9#
!8#)$/-#0%02#"/%)$/1#,/8)#4"#4<<(*")#(8#%)9#
# !"#J41<$#(8#)$4)#-/41#745%&#./64"#&/"0%"6#J&#
745%0# &(+/# (8# $%&# <4)4,(6*/&2# 4"0# %"# ("/# (8# $%&#
,/))/1&# :1()/2# E!# :("0/1# :$/)$/1# .-# 4"-# <$4"</#
-(*# :(*,0# <41/# )(# $45/# 0%""/1# :%)$# +/# $/1/# ("#
^1%04-# "/P)# 4"0# )(# +//)# 4# 61/4)# 81%/"0# (8# +%"/2#
B4)%/"</#K14-2#:$(#:(*,0#5/1-#+*<$#,%3/#)(#+43/#
-(*1# 4<;*4%")4"</l# M$/# 0%""/12# %8# -(*# <4"# <(+/2#
:%,,#./#+(&)#&%+',/9L#
# !"# $%&# )-'%<4,,-# *"4&&*+%"6# :4-2# $/##
400/02#E!#&$(*,0#"()#4))/+')#4"-#1/<%'/#81(+#-(*1#
<((3/1-#.((3&9L#
_#\[#`

Documents pareils

erWin Build Guide / Guide de construction

erWin Build Guide / Guide de construction Codes erWin de l’année-modèle 2004

Plus en détail