Loading ...
Loading ...
Loading ...
8325$%$
9./23,=./23FRQHJUHOFD
=D9./23JUHOFDVHGRWDNQLWHNDWHUHNROLFRQHJUHOFD]DPVHN
6OLãDOLERVWHGROJ SLVNQDãWHYLOþQLFLFLOMQH FRQHSDVHER SRMDYLOD
YUHGQRVWª©NLR]QDþXMHVWRSQMRPRþL
 ýHMHNDWHULNROLNRUDNNXKDQMDYSRORåDMXVHSULND]VDPRGHMQR
,=./23,SRVHNXQGDKLQVHRJODVL]YRN]D,=./23FRQH
 ýHMHQD]DVORQXLQGLNDWRUSUHRVWDOHWRSORWH9./23/-(1YHQGDU
MHVWRSQMDPRþLVHERSRMDYLOSUHNORSQDª©
 ýHMHIXQNFLMD]DNOHSDQMDDNWLYQDQHPRUHWH9./23,7,FRQH
=D,=./23JUHOFDVHGRWDNQLWHFRQHVHJUHYDQMD]DVHN6OLãDOL
ERVWHNUDWNHSLVNHQDãWHYLOþQLFLFLOMQHFRQHSDVHQHERSRMDYLORQLþ
DOL SD YUHGQRVW ª+© þH REVWDMD SUHRVWDOD WRSORWD &RQD ER
,=./23/-(1$
 ýHMHNDWHULNROLNRUDNNXKDQMDYSRORåDMXVHSULND]VDPRGHMQR
,=./23,SRVHNXQGDKLQVHRJODVL]YRN]D,=./23FRQH
 ýHMHQD]DVORQXNLMH,=./23/-(1SULND]DQDSUHRVWDODWRSORWQD
1$69(7*/('(3262'(=$
.8+$/123/2âý2
8SRUDEDNDNRYRVWQHNXKLQMVNHSRVRGHMHNOMXþQHJDSRPHQD]D
]DJRWDYOMDQMHQDMEROMãHXþLQNRYLWRVWLYDãHNXKDOQHSORãþH
 9HGQRXSRUDELWHNDNRYRVWQRNXKLQMVNRSRVRGRVSRSROQRPD
UDYQLPLQGHEHOLPGQRPXSRUDEDWRYUVWQHSRVRGHERSUHSUHþLOD
YURþHWRþNHNLSRY]URþDMROHSOMHQMHKUDQHQDSRVRGR'HEHOLNRYLQVNL
ORQFLLQSRQYH]DJRWDYOMDMRHQDNRPHUQRSRUD]GHOLWHYYURþLQH
 3RVNUELWHGDERGQRORQFDDOLSRQYHVXKR3ULSROQMHQMXSRVRG
VWHNRþLQRDOLSULXSRUDELSRVRGHNLMHELODVKUDQMHQDYKODGLOQLNX
SRVNUELWHGDMHGQRSRVRGHSRSROQRPDVXKRSUHGHQMRSRVWDYLWHQD
NXKDOQRSORãþR7RSUHSUHþXMHPDGHåHQDNXKDOQLSORãþL
 8SRUDEOMDMWH SRVRGH NL LPDMR GRYROM ãLURN SUHPHU GD
SRSROQRPDSRNULMHMRSRYUãLQRHQRWH9HOLNRVWSRVRGHQHVPHELWL
PDQMãDNRWREPRþMHVHJUHYDQMDýHMHPDOHQNRVWãLUãDERHQHUJLMD
L]NRULãþHQD]PDNVLPDOQLPXþLQNRP
,=%,5$.8+,1-6.( 3262'(1DVOHGQMH LQIRUPDFLMHYDPERGR
SRPDJDOHL]EUDWLNXKLQMVNRSRVRGRNLERGDODGREUHUH]XOWDWH
1HUMDYHþHMHNOR]HORSULSRURþOMLYR=ODVWLGREUR]YHþSODVWQLPGQRP
9HþSODVWQR GQR ]GUXåXMH SUHGQRVWL QHUMDYHþHJD MHNOD YLGH]
WUSHåQRVW LQ VWDELOQRVW V SUHGQRVWPL DOXPLQLMD DOL EDNUD WRSORWQD
SUHYRGQRVWHQDNRPHUQDSRUD]GHOLWHYWRSORWH
$OXPLQLM SULSRURþOMLYD MH YHOLND WHåD 'REUD SUHYRGQRVW 2VWDQNL
DOXPLQLMDVHYþDVLKSRMDYLMRNRWSUDVNHQDNXKDOQLSORãþLYHQGDUMLKMH
PRJRþHRGVWUDQLWLVWDNRMãQMLPþLãþHQMHP
=DUDGLQL]NHJDWDOLãþDVHQHVPHXSRUDEOMDWLWDQNHJDDOXPLQLMD
/LWRåHOH]RXSRUDEQRYHQGDUQL SULSRURþOMLYR 6ODEDXþLQNRYLWRVW
/DKNRSRY]URþLSUDVNHQDSRYUãLQL
%DNUHQRGQRNDPQLWDSRVRGDSULSRURþOMLYDMHYHOLNDWHåD'REUD
XþLQNRYLWRVWYHQGDUODKNREDNHUSXãþDVOHGLNLVHODKNRSRMDYLMRNRW
SUDVNH6OHGLMHPRJRþHRGVWUDQLWLþHNXKDOQRSORãþRRþLVWLWHWDNRM
9HQGDUQHGRYROLWHGDELWDSRVRGDNXKDODQDVXKR3UHJUHWDNRYLQD
VHODKNRYHåHVVWHNOHQLPLNXKDOQLPLSORãþDPL3UHJUHWLEDNUHQLORQHF
ERSXVWLOVOHGLNLERGRWUDMQRXPD]DOHNXKDOQRSORãþR
3RUFHODQHPDMO'REUD XþLQNRYLWRVW VDPRSUL WDQNHPJODGNHP LQ
UDYQHPGQX
6WHNORNHUDPLNDQLSULSRURþOMLYD6ODEDXþLQNRYLWRVW/DKNRSRY]URþL
SUDVNHQDSRYUãLQL
,]ELUDREPRþMD
ýHMHFRQDåH9./23/-(1$VHSRMDYLQLåMDVYHWOREQDLQWHQ]LYQRVW]D
QHL]EUDQHFRQHNLVR9./23/-(1(
6NUDWNLPSULWLVNRPQDWLSNLDOLERVWHSRYHþDOLDOL]PDQMãDOLPRþ
QDãWHYLOþQLFLL]EUDQHFRQH3
 3UL GROJHP SULWLVNDQMX QD WLSNL  DOL  VH VWRSQMD PRþL VWDOQR
SRYHþXMH]PDQMãXMH3ULKLWUHPSRYHþDQMXVHPRþXVWDYLQDVWRSQML
]D YHþMR PRþ SD MH SRWUHEHQ NUDWHN SULWLVN QD WLSNR  3UL KLWUHP
SRYHþDQMX]PDQMãDQMXQLVOLãQHJDSLVND
 .RGRVHåHWHVWRSQMR3SRQRYQLSULWLVNWLSNHQHVSUHPHQLVWRSQMH
PRþLQD.RGRVHåHWHVWRSQMRSRQRYQLSULWLVNWLSNHQHVSUHPHQL
VWRSQMHPRþLQD3
 3UL9./23/-(1,FRQLQDVWRSQMLþHMHFRQDYURþDERãWHYLOND
L]PHQLþQRXWULSDOD3RVHNXQGDKERãWHYLONDL]JLQLODSRMDYLODSD
VHERþUND+QD]DVORQX
 ýHL]EHUHWHJUHOHFLQWLSNLLQSULWLVQHWHKNUDWLERVWRSQMDPRþL
SDGODQDYHQGDUERRVWDOJUHOHFL]EUDQ]DVHNXQGýHMHJUHOHF
ELOQDVWDYOMHQVþDVRYQLNRPVHEROHWDL]NORSLO7RGHMDQMHVHODKNR
UD]YLMHOHYQHNDWHULKSULPHULKRGYLVQRRGNRQILJXUDFLMHXSUDYOMDQMDQD
GRWLN1DVOHGQMLSULPHULVR]JROMLQIRUPDWLYQL2VHEQHL]NXãQMHYDP
ERGRRPRJRþLOHSULODJRGLWLQDVWDYLWYHSRYDãHPRNXVXLQQDYDGDK
7RGHMDQMHVHL]YHGHNRVHKNUDWLGRWDNQHWHWLSNLQ
1DWRVHERSULYVDNHPGRWLNXWLSNH]DVHNQD]DVORQXSULND]DOª/©
VHJUHYDQMHSDRVWDQHQDHQDNLVWRSQML
=DL]NORSYDUQRVWQHJD]DNOHSD]DRWURNHVOHGLWHHQDNHPXSRVWRSNX
NRWMHRSLVDQ]JRUDM6OLãDOLERVWHNUDWHNSLVNQD]DVORQXSDVHER
SULND]DODþUNDªQ©.XKDOQDSORãþDERRVWDODQH]DNOHQMHQD
2SRPED PLQXWSR SRSROQHP,=./238 NXKDOQHSORãþHVH ER
YDUQRVWQL]DNOHS]DRWURNHDNWLYLUDOVDPRGHMQR7DIXQNFLMDVHVSURåL
VDPRGHMQR YHQGDU MR MH SRWUHEQR SUHGKRGQR SURJUDPLUDWL *OHMWH
WRþNR]DXSRUDEQLãNHQDVWDYLWYH
ýHMH9./23/-(1$VDPRHQDFRQDMHOHWDåHSULY]HWRL]EUDQDEUH]
GDELPRUDOLQDNUDWNRSULWLVQLWLPVHNL]ELUQRWLSNR
3RYHþDQMH]PDQMãDQMHVWRSQMHPRþL
0RåQRVWYDUQRVWQHJD]DNOHSD]DRWURNH
LQGLNDFLMDVHSULNDåHª+©
 7XGLþHMHIXQNFLMD]DNOHSDQMDDNWLYQDODKNRFRQR,=./23,7(
 ýHMHDNWLYHQVDPRHQJUHOHFLQWHJDL]NORSLWHERVWHVOLãDOLNUDWNH
SLVNHNLSRPHQLMRGDMHNXKDOQDSORãþDL]NORSOMHQD
6,
Loading ...
Loading ...
Loading ...