Download as pdf or txt
Download as pdf or txt
You are on page 1of 20

581'%5,()

'(5,17(51$7,21$/('(876&+/(+5(59(5%$1'

1800(5


'(=(0%(5


BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
,1+$/769(5=(,&+1,6

$860(,1(56,&+7
6%HPLOH7lWLJNHLWVEHULFKWGHV9RUVWDQGVXQG%OLFNLQGLH=XNXQIW
9(5$167$/781*69256&+$8
'HU.DOHQGHU

%(5,&+7(81'%(,75b*(
$XV]XJDXVGHU=HLWVFKULIWGHU$$7*0DLQWDLQLQJWKH0RPHQWXP
0 /DQJQHU 4XDOLWlW XQG 6RIWZDUH ]XP 6SUDFKHQOHUQHQ GLH $UEHLWV
JUXSSH(/,$6 1$&+7&/8%

$86'(19(5%b1'(1
6%UHX5HJLRQDOH=XVDPPHQDUEHLW NXU]H%LODQ]DXVVHUELVFKHU6LFKW
0$6FKDXPORHIIHO'HXWVFKOHKUHUYHUElQGH/DWHLQDPHULNDVWUHIIHQVLFK
LQ6mR/HRSROGR%UDVLOLHQ
,$OH[DQGUHVFX ,,,,QWHUQDWLRQDOH'HXWVFKRO\PSLDGH%HULFKW
/ 0DUTXL]R 'HU 5HJLRQDOYHUEDQG 'HXWVFKVSUDFKLJHU /HKUHU DXV 3DUD
JXD\VWHOOWVLFKYRU
5(=(16,21(1
0%$EGHUD]DN-DKUEXFK'HXWVFKDOV)UHPGVSUDFKH

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

3UlVLGHQWLQ
9L]HSUlVLGHQW
*HQHUDOVHNUHWlULQ
6FKDW]PHLVWHU
6FKULIWOHLWHU

+HOHQD+DQXOMDNRYi
6HEDVWLDQ.%pPLOH
/XND3ULVWDYHF
$OIUHG+6FKXO]H
0DUFR$XUHOLR6FKDXPORHIIHO

7lWLJNHLWVEHULFKWGHV9RUVWDQGV
XQG%OLFNLQGLH=XNXQIW

6HEDVWLDQ.%HPLOH

92567$1'66,7=81*(181','99(5$167$/781*(1

6HLW $XJXVW  LVW VWUXNWXUHOO XQG YHUEDQGVSROLWLVFK HLQ JDQ]


QHXHU 9RUVWDQG HQWVWDQGHQ GHU ]XP HUVWHQ 0DO DXV 0LWJOLHGHUQ

DXV GUHL .RQWLQHQWHQ QlPOLFK $IULND $PHULND /DWHLQDPHULND 

0,77(,/81*(1'(692567$1'6
++DQXOMDNRYi5HGH*HEXUWVWDJYRQ3URI+DQV-UJHQ.UXPP

,'9 'HU,QWHUQDWLRQDOH'HXWVF KOHKUHUYHUEDQG

$860(,1(56,&+7

(0DLO
KDQXOMDNRYD#LGYQHW]RUJ
EHPLOH#LGYQHW]RUJ
SULVWDYHF#LGYQHW]RUJ
VFKXO]H#LGYQHW]RUJ
VFKDXPORHIIHO#LGYQHW]RUJ

'HU5XQGEULHIHUVFKHLQW]ZHLPDOMlKUOLFK
+HUDXVJHEHU6FKULIWOHLWXQJGHV,QWHUQDWLRQDOHQ'HXWVFKOHKUHUYHUEDQGV
=XVFKULIWHQ%HLWUlJH%HVSUHFKXQJH[HPSODUHXQG$Q]HLJHZVFKHELWWHDQGLH
6FKULIWOHLWXQJVFKLFNHQ

XQG (XURSD EHVWHKW  'LHVH =XVDPPHQVHW]XQJ HUP|JOLFKW HV

GHP9RUVWDQG(LQVLFKWHQ6FKZLHULJNHLWHQXQG(UIDKUXQJHQPX O
WLNXOWXUHOOHU $UW LQ %HWUDFKW ]X ]LHKHQ 6R ELQ LFK DXV *KDQD LQ

GHQ9RUVWDQGJHZlKOWZRUGHQ$XVPHLQHU6LFKWLVWHVHLQHVHKU

SRVLWLYH (QWZLFNOXQJ ZHQQ GHU ,'9 VHLQ $XJHQPHUNGDUDXI ULF K


WHW GHQ 6WHOOHQZHUW GHU GHXWVFKHQ 6SUDFKH LQ GHU JDQ]HQ :HOW

NHQQHQ ]X OHUQHQ XQG GLH GHXWVFKH 6SUDFKH ]X I|UGHUQ ,P 9R U
VWDQGKDEHQZLUELV MHW]WUHFKWLQWHUNXOWXUHOOVSDQQHQGXQGLQWH Q
VLY]XVDPPHQJHDUEHLWHW

,QVJHVDPW KDW VLFK GHU QHXH ,'9 9RUVWDQG LQ VHLQHU HLQHLQKDOE
MlKULJHQ$PWVSHULRGHGUHLPDOJHWURIIHQXQG]ZDULQ%OHG%UDRY
XQG6DQ)UDQFLVFR

'HU 9RUVWDQG KDW VLFK YRUJHQRPPHQ VLFK GRUW ]X WUHIIHQ ZR HU
VHLQH 6LW]XQJHQ QW]HQ NDQQ XP .RQWDNW PLW GHQ 0LWJOLHGVYH U
ElQGHQDXI]XQHKPHQ(VZDUDXFKYHUEDQGVSROLWLVFKZLFKWLJIU

GLH9HUVWDQGVPLWJOLHGHU ZlKUHQGGHUQDWLRQDOHQE]ZUHJLRQDOHQ
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

7DJXQJHQGHU0LWJOLHGVYHUElQGHDQZHVHQG ]XVHL QXQGGLH 9HU

EULHIYHUVDQG 9HUWUHWHUHQWVFKlGLJXQJ 6WLSHQGLHQ )LQDQ]LHUXQJ

:lKUHQG GHU YHUJDQJHQHQ HLQ HLQKDOE -DKUH ZXUGHQ IROJHQGH

,Q GHU 7DW PVVHQ YLHOH 9HUElQGH YRU DOOHP GLHMHQLJHQ LQ GHY L

ElQGHGXUFK7DWXQG5DW]XXQWHUVWW]HQ

9HUDQVWDOWXQJHQXQWHU ,'9 )ODJJHLQ$QJULIIJHQRPPHQ


1RYHPEHU

D 9RUVWDQGVVLW]XQJLQ%OHG6ORZHQLHQ

E 7HLOQDKPH DQ GHU VORZHQLVFKHQ 'HXWVFKO HKUHUNRQIHUHQ]


LQ%OHG

0DL

D 9RUVWDQGVVLW]XQJLQ%UDRY5XPlQLHQ

E 7HLOQDKPH DQ GHU YRP UXPlQLVFKHQ 'HXWVFKOHKUHUYH U


EDQG RUJDQLVLHUWHQ ,QWHUQDWLRQDOHQ 'HXWVFKRO\PSLDGH LQ
%UDRY

F 0(5&2685.RQIHUHQ]XQG'HOHJLHUWHQVHPLQDULQ%UDV L

OLHQ'HU9RUVWDQGZXUGH GDEHLGXUFKGHQ6FKULIWOHLWHUYH U
WUHWHQ

G 9RUVWDQGVVLW]XQJLQ6DQ)UDQFLVFR86$

H .RQWDNW XQG 'LVNXVVLRQ PLW 9RUVWDQGVPLWVJOLHGHUQ G HU


$$7*LQ6DQ)UDQFLVFR

:$&+678081'),1$1=(1

6HLWKDWVLFKGLH=DKOGHU9HUEDQGVPLWJOLHGHUYHUJU| HUW(V
EHVWHKHQ QRFK PHKUHUH $QWUlJH DXI QHXH 0LWJOLHGVFKDIW  'LH
$XIQDKPHHLQHVQHXHQ9HUEDQGVEULQJWLPPHUHUKHEOLFKH.RVWHQ

PLWVLFKYRUDOOHPZDV.RUUHVSRQGHQ] 3URWRNROOVHQGXQJ5XQ G

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

YRQ5HJLRQDOWDJXQJHQX VZDQJHKW

VHQVFKZDFKHQ /lQGHUQ XQWHU VHKU VFKZLHULJHQ ILQDQ]LHOOHQ 8 P


VWlQGHQDUEHLWHQ

.HLQ:XQGHUGDVVYLHOHGLHVHU9HUElQGHVRIRUWEHLP (LQWULWWHLQH

%HLWUDJVHUPlLJXQJ EHDQWUDJHQ P VVHQ  'HU 9RUVWDQG LVW RIW


GHVKDOE VHKU GDIU GDQNEDU GDVV HLQLJH 9HUElQGH DXIJUXQG GHV

%HVFKOXVVHV ]XU 6ROLGDULWlWVDNWLRQ ZlKUHQG GHV 3XFKEHUJHU $ U


EHLWVWUHIIHQVGLH0LWJOLHGVEHLWUlJHIUDQGHUH9HUElQGH]DKOHQ
817(567h7=81*'(59(5%b1'(

1HXH 9HUElQGH EU DXFKHQ EOLFKHUZHLVH GLH 8QWHUVWW]XQJ GHU


HUIDKUHQHUHQ 9HUElQGH 'HU 9RUVWDQG VWHOOW VLFK LPPHU ]X LKUHU
9HUIJXQJ 9RUDOOHPYHUZHQGHQGLH([SHUWHQDXV'HXWVFKODQG

gVWHUUHLFKXQGGHU6FKZHL]VHKUYLHO(QHUJLHXQG=HLWGDUDXIGLH

QHXHQ9HUElQGH]XXQW HUVWW]HQXQGLKQHQ0|JOLFKNHLWHQ]XYH U
VFKDIIHQ VLFK NHQQHQ ]X OHUQHQ XQG YRQHLQDQGHU ]X OHUQHQ LQ V
EHVRQGHUH GXUFK 9HUDQVWDOWXQJHQ ZLH 'HOHJLHUWHQVHPLQDUH XQG
'HXWVFKRO\PSLDGHQ'LHVFKRQREHQHUZlKQWHQ9HUDQVWDOWXQJHQ

VLQGDOVVHKUHUIROJUHLFKDXVJHZH UWHWZRUGHQ 'HU9RUVWDQGZLUG


LQ =XNXQIW VROFKH 9HUDQVWDOWXQJHQ XQWHUVWW]HQ XQG KRIIW VHKU
GDVV GLH 9HUDQVWDOWXQJHQ ZLUNOLFK ZHLWHUKLQ DOV )RUD JHEUDXFKW
ZHUGHQ (UIDKUXQJHQ LP 'HXWVFKXQWHUULFKW DXV]XWDXVFKHQ XQG
LQWHUNXOWXUHOOHV9HUVWlQGQLVXQGNRUGLD OH%H]LHKXQJHQ]XI|UGHUQ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

80*(67$/781*'(6581'%5,()6

1DFK ZLH YRU EHVWHKW GHU 5XQGEULHI DXV %HLWUlJHQ EHU 9H U


EDQGVSROLWLN XQG 9HUEDQGVDUEHLW  6HLQ &KDUDNWHU DOV JHGUXFNWH

=HLWVFKULIW KDW VLFK MHGRFK JHlQGHUW $XIJUXQG GHV =XZDFKVHV

GHU0LWJOLHGVYHUE lQGHVLQGLQGHQOHW]WHQ-DKUHQVRZRKOGLH0H Q
JH GHU $UEHLW DOV DXFK GLH .RVWHQ GHU $UEHLW XQG GHV 9HUVDQGV

GHU=HLWVFKULIWVWDUNJHVWLHJHQZDVDXFK]XU%HODVWXQJGHU)LQD Q
]HQ GHV 9HUEDQGV JHIKUW KDWWH  ,Q %OHG 6ORZHQLHQ EHVFKORVV

GHVKDOE GHU 9RUVWDQG  HLQH HIIL]LHQWHUH HIIHNWLYHUH HLQIDFKHUH


XQG YLHO ELOOLJHUH /|VXQJ EHU GDV ,QWHUQHW ]X ILQGHQ 6HLWGHP
ZHUGHQDOOHQ0LWJOLHGVYHUElQGHQPLWHLQHP=XJDQJ]XP,QWHUQHW

E]Z ]XU HOHNWURQLVFKHQ 0DLO GLH 9RUVWDQGVSURWRNROOH XQG GHU

5XQGEULHI HOHNWURQLVFK ]XJHVFKLFNW  0LWJOLHGVYHUElQGH RKQH ( 


0DLO0|JOLFKNHLW EHNRPPHQ ZHLWHUKLQ LKU 3URWRNROO XQG GHQ

5XQGEULHI SHU 3RVW  'LH bQGHUXQJ HUOHLFKWHUW QLFKW QXU GLH 9H U


EDQGVDUEHLW VRQGHUQ VSDUHQ HUKHEOLFK GLH 'UXFN  XQG 9HUVDQG
NRVWHQ

,'981',1)250$7,216 81'.20081,.$7,2167(&+12/2*,(
,P %HUHLFK GHU ,QIRUPDWLRQV XQG .RPPXQLNDWLRQVWHFKQRORJLH
,.7 EHPKWVLFKGHU,'9GHQVFKQHOOHQ(QWZLFNOXQJHQ6WDQG]X

KDOWHQXQGP|JOLFKVWDOOH9RUWHLOHDXV]XQW]HQ 6HLWQLPPW

GHU,'9GLH0|JOLFKNHLWHQGHU,.7LQ$QVS UXFK %LVMHW]W KDWGHU


,'9 HLQH 'LVNXVVLRQVOLVWH HLQH /HLWVHLWH XQG HLQH HOHNWURQLVFKH

=HLWVFKULIW'LH/HLWVHLWHGHV,'9KDWVLFK]XHLQHP,QIRUPDWLRQ V
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

]HQWUXP XQG GHP +HU] E]Z 1HUYHQ]HQWUXP GHV ,'9 HQWZLFNHOW

LQGHPVLHGHQ0LWJOLHGHUQDOOHUOHL,QIR UPDWLRQHQ]XJlQJOLFKPDFKW
XQG GHQQRFK GDEHL YLHO $UEHLW XQG *HOG XQWHU JU|HUHU (IIL]LHQ]
VSDUW

$XI.QRSIGUXFNN|QQHQGLH9HUEDQGVPLWJOLHGHU,QIRUPDWLRQHQZLH

/HVHUEULHIH 5H]HQVLRQHQ YRQ /HKUZHUNHQ 8QWHUULFKWVPDWHUL D


OLHQ 8QWHUULFKWVSOlQH 9HUEDQGVVWDW LVWLNHQ 7LSV $GUHVVHQ 9H U

DQVWDOWXQJHQ %HULFKWH ,GHHQ XYD EHNRPPHQ $X HUGHP EH


VWHKWGLH0|JOLFKNHLWGXUFKHLQH'DWHQEDQNGLH2UJDQLVDWLRQYRQ
7DJXQJHQ'RNXPHQWDWLRQEHU&XUULFXOD%HULFKWHEHU3URMHNWH

9HUIDKUHQVZHLVHQ EHL 6SUDFKZHUEXQJ /REE \$UEHLW 6SUDFKSRO L


WLNXVZ]XHUOHUQHQ

'LH$GUHVVHGHU,'9 /HLWVHLWH LVWKWWSZZZLGYQHW]RUJ


:(,7(5(9(5$167$/781*(1
,P -DKU  VLHKW GHU ,'9 YLHOH 9HUDQVWDOWXQJHQ YRU  'HU 9R U

VWDQGWULIIWVLFKEHLVSLHOVZH LVH0LWWH0lU]LQ$FFUD*KDQD :l K
UHQG GLHVHU =HLW ZLUG HLQH 5HJLRQDOWDJXQJ IU DIULNDQLVFKH

'HXWVFKOHKUHUYHUElQGHXQWHU,'9  )ODJJHYHUDQVWDOWHW'LH5HJ L
RQDOWDJXQJ OHJW GHQ $N]HQW DXI  GHQ 6WHOOHQZHUW GHU GHXWVFKHQ

6SUDFKH LQ $IULND GDV 6LFK .HQQHQOHUQHQ GHU DIULNDQLVFKHQ


'HXWVFKOHKUHUYHUElQGH XQG GLH =XVDPPHQDUEHLW GLHVHU 9HUEl Q
GHPLWGHP=LHO,QIRUPDWLRQHQ.HQQWQLVVHXQG3OlQHDXV]XWD X
VFKHQ'DYLHOH'HXWVFKOHKUHULQ$IULNDQRFKQLFKWLQ9HUElQGHQ

RUJDQLVLHUW VLQG VLHKW GHU 9RUVWDQG YRU LKQHQ GLH 7lWLJNHLW GHV
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

,'9QlKHUGDU]XVWHOOHQGHQHLQ]HOQHQ9HUElQGHQGDVJURH3 R

WHQWLDO GHU *HVDPWKHLW GHU 0LWJOLHGVYHUElQGH YHUIJEDU ]X P D


FKHQ XQG GLH 'HXWVFKOHKUHU ]X XQWHUVWW]HQ XQG ]X HUPXWLJHQ

9HUElQGH]XJUQGHQGLHGDQQ VSlWHU0LWJOLHGHUGHV,'9Z HUGHQ


N|QQHQ

9RP  -XOLYHUDQVWDOWHWGHU,'9GLH9HUWUHWHUYHUVDP P


OXQJXQGGDV$UEHLWVWUHIIHQLQ-HQD'HXWVFKODQGZRVLFK' H
OHJLHUWH DOOHU 9HUElQGH WUHIIHQ ZHUGHQ XP LKUH =LHOH ,QIRUPDWL R

QHQ XQG .HQQWQLVVH DXV]XWDXVFKHQ XQG ]XVDPPHQ 3Ol QH ]X


VFKPLHGHQ XQG3URMHNWHXQG 9HUDEUHGXQJHQIUGLH ZHLWHUH= X
VDPPHQDUEHLWXQGGLH)|UGHUXQJGHUGHXWVFKHQ6SUDFKH]XP D
FKHQ

RUJDQLVLHUWHQ 7DJXQJ GXUFK GDV DIULNDQLVFKH 9RUVWDQGVPLWJOLHG


YHUWUHWHQZHUGHQ

'$1.6$*81*81'*/h&.:h16&+(

'HU 9RUVWDQG GDQNW DOOHQ 0LWJOLHGVYHUElQGHQ IU LKUH 0LWDUEHLW

LKUH7DWNUDIWXQGLKUH%HJHLVWHUXQJEHLGHU2 UJDQLVDWLRQXQGGHP
'XUFKIKUHQ GHU 7DJXQJHQ XQG 3URMHNWH  9RU DOOHP GDQNW GHU
9RUVWDQGGHQMHQLJHQ9HUElQGHQGLHVLFKEHVRQGHUVDQJHVWUHQJW

KDEHQ XPGLH1DWLRQDOWDJXQJHQ5HJLRQDOWDJXQJHQ GLH,QWHUQ D

WLRQDOH 'HXWVFKRO\PSLDGH XQG :RUNVKRSV HUIROJUHLFK ]X JHVWDO


WHQ

(LQ '$&+/6HPLQDU GDV QRUPDOHUZ HLVH GXUFK GLH GHXWVFK VSUD


FKLJHQ /lQGHU 'HXWVFKODQG gVWHUUHLFK GLH 6FKZHL] XQG /LHF K
WHQVWHLQ IU'HXWVFKOHKUHUYHUDQVWDOWHWZLUGLVWDXFKIUGDV-DKU
YRUJHVHKHQ

.217$.70,7$1'(5(19(5%b1'(1
1DFKZLHYRUSIOHJWGHU,'9GHQ.RQWDNW]XDQGHUHQ9HUElQGHQ

EHLVSLHOVZHLVH GHU )pGpUDWLRQ ,QWHUQDWLRQDOH GHV 3URIHVVHXUV GH

/DQJXHV 9LYDQWHV ) ,3/9  XQG GHU ,QWHUQDWLRQDOHQ 9HUHLQLJXQJ


GHU *HUPDQLVWHQ ,9*  'DEHL JHKW HV XP GHQ $XVWDXVFK YRQ
,GHHQXQG,QIRUPDWLRQHQGLHGHU=XVDPPHQDUEHLWGLHQHQXQGYRU

DOOHPGHU)|UGHUXQJGHUGHXWVFKHQ6SUDFKHQW]OLFKVLQG6RZLUG

LP-XOLGLHVHV-DKUHVGHU ,'99RUVWDQG EHLHLQHUYRQGHU)/3/9


(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

9(5$167$/781*69256&+$8
'DWXP

9HUDQVWDOWHUXQG2UW

 3RUWXJLHVLVFKHU'HXWVFKOHKUHU 
)HEUXDU YHUEDQG $33$ 6HP LQiULRGH

/LODU3RUWR3RUWXJDO

7KHPD
'#)OHUQHQOLQNVSW

.RQWDNW
(0DLO

 $OJHULVFKHU*HUPDQLVWHQYHUEDQG /HKUZHUNH.RQ]HSWHXQG(0DLO


0DL $*9
.ULWHULHQIU+DQGEFKHU
IU'D)LQ=XVDPPHQDUEHLW
2UDQ$OJHULHQ
PLW/$526

;,,, ,QWHUQDWLRQDOH 7DJXQJ GHU 'HXWVFKOHKUHULQQHQ XQG 'HXWVFKOHKUHU


%HJHJQXQJVVSUDFKH 'HXWVFK 0RWLYDWLRQ +HUDXVIRUGHUXQJ 3HU
VSHNWLYHQ *UD]gVWHUUHLFK

+LHU VLQG QXU 9HUDQVWDOWXQJHQ DXIJHOLVWHW GLH YRQ ,'99HUEDQGV


PLWJOLHGHUQRUJDQLVLHUWZHUGHQ'HUDNWXHOOHNRPSOHWWH9HUDQVWDOWXQJVND
OHQGHULVWXQWHUIROJHQGHU$GUHVVHDE]XUXIHQ

KWWSLGYQHW]RUJ

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
KWWSLGYQHW]RUJ 'LHQHXH/HLWVHLWHGHV,'9
:DVLVWQHX"

9
9
9
9
9
9

9HUEDQGVFKURQLN
9HUElQGHZHOWZHLW$GUHVVHQ ZLUGVWlQGLJDNWXDOLVLHUW
,QIREODWW
5XQGEULHI
9HUDQVWDOWXQJVNDOHQGHU ZLUGVWlQGLJDNWXDOLVLHUW
$UFKLY ZLUGVWlQGLJHUZHLWHUW
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

0,77(,/81*(1'(692567$1'6
*HEXUWVWDJYRQ3URI+DQV-UJHQ.UXPP
8QVHU (KUHQPLWJOLHG 3URI +DQV-UJHQ .UXPP /HLWHU GHV
/HKUVWXKOV IU 'HXWVFK DOV )UHPGVSUDFKH DP ,QVWLWXW IU
*HUPDQLVWLN GHU 8QLYHUVLWlW :LHQ KDWWH DQOlVVOLFK VHLQHV
 *HEXUWVWDJV HLQHQ )HVWDNW LP HKUZUGLJHQ )HVWVDDO GHU
8QLYHUVLWlW:LHQ

,P5DKPHQGLHVHU)HLHUKDWGLH3UlVLGHQWLQGHV,'9HLQH5 H
GH JHKDOWHQ LQ GHU VLH GLH 5ROOH XQG 7lWLJNHLW YRQ 3URI
.UXPPLP,'9JHZUGLJWKDW
'HU ,'99RUVWDQG JUDWXOLHUW GHP -XELODU DXI GLHVHP :HJ
QRFKPDOVJDQ]KHU]OLFK
6HKUJHHKUWH'DPHQXQG+HUUHQ
/LHEHU+DQV-UJHQ

OLHEH)UHXQGLQQHQXQG)UHXQGH
GLHVHU 7DJ LVW IU PLFK XQG IU DOOH 7 HLOQHKPHQGHQ HLQ JURHV
)HVW (LQ JURHV )HVW DXV GLHVHP *UXQG GDVV ZLU KLHU ]XVD P
PHQ PLU +HUUQ 3URI +DQV -UJHQ .UXPP VHLQ *HEXUWVWDJVMXE L
OlXPIHLHUQGUIHQ

,FK DOV 3UlVLGHQWLQ GHV ,QWHUQDWLRQDOHQ 'HXWVFKOHKUHUYHUEDQGV


P|FKWHXQVHUHPOLHEHQ(KUHQPLWJOL HGLP1DPHQDOOHU.ROOHJLQQHQ
XQG.ROOHJHQGLHLQXQVHUHP'DFKYHUEDQG0LWJOLHGHUVLQG XQG
HV JLEW VLH ]LHPOLFK YLHO YRQ JDQ]HP +HU]HQ ]X GLHVHP -XE L
OlXPKHU]OLFKJUDWXOLHUHQ
6LFKHU ZUGHQ YLHOH NRPPHQ GLH LKQ SHUV|QOLFK NHQQHQ GLH LKQ
JHUDGH GXUFK VHLQ (QJDJHPHQW LP 5DKPHQ GHU $NWLYLWlWHQ GHV
,'9NHQQHQJHOHUQWKDEHQ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

:DV ZlUH GHU ,'9 RKQH +DQV -UJHQ .UXPP" :HOFKH 5ROOH
VSLHOWHXQGVSLHOWHUHLJHQWOLFKLQGLHVHPLQWHUQDWLRQDOHQ.RQWH[W"
:HOFKH5ROOHVSLHOWGHU,'9LQVHLQHP/HEHQ"
1DFKGHU,'7 LQ%HUQXQGGHU,'7LQ:LHQVROOWH
GLH %XQGHVUHSXEOLN 'HXWVFKODQG GLH $XVULFKWXQJ GHU QlFKVWHQ
7DJXQJEHUQHKPHQ'DVILHOLQGLH=HLWGHU$XIO|VXQJGHU''5
GHU :LHGHUYHUHLQLJXQJ GLH PLW JURHQ 8QVLFKHUKHLWHQ DXFK LP
)DFK'D)HLQKHUJLQJ  'HXWVFKODQGLP8PEUXFKZDUNHLQHLQI D
FKHV 3IODVWHU IU *URXQWHUQHKPXQJHQ ZLH HV GLH ,'7V DXFK
GDPDOVVFKRQZDUHQ$XFKNHLQHLQIDFKHV3IODVWHUJHUDGHIUHLQ
LGHHOOHV*HELHWLQGHPGLHYRUPDOV]ZHLGHXWVFKHQ6WDDWHQEHU
-DKU]HKQWH HLQ ([HU]LHUIHOG IU GLH 'DUVWHOOXQJ LKUHU MHZHLOV J H
VHOOVFKDIWVSROLWLVFKHQ$XVULFKWXQJLP$XVODQGJHVHKHQKDWWHQ

3URI .UXPP KDW VLFK IU /HLS]LJ DOV 7DJXQJVRUW HLQJHVHW]W XQG
GDPLW HLQ SROLWLVFKHV 6LJQDO JHVHW]W (U KDW GLH 5HDOLVLHUXQJ LQ
VFKZLHULJHU =HLW JHPHLQVDP PLW . ODXV )LVFKHU P|JOLFK JHPDFKW
8OOD+LUVFKIHOG7DJXQJVVHNUHWlULQZLUGGDVEHVWlWLJHQ'HU,'9 
9RUVWDQG GDPDOV PLW GHP 3UlVLGHQWHQ :DOGHPDU 3IHLIIHU  KDW
VLFK IU .UXPPV (QJDJHPHQW PLW GHU 9HUOHLKXQJ GHU (KUHQPL W
JOLHGVFKDIWEHGDQNW8QG.UXPPKDWGHP7LW HODOOH(KUHJHPDFKW
(U LQWHUSUHWLHUW GLH )XQNWLRQ DOV )HXHUZHKUPDQQ GHU ZHQQ HV
VHLQ PXVV UXQG XP GLH 8KU IU GHQ ,'9 DQVSUHFKEDU LVW  XQG
VHLQ 5DW EULQJW XQV LPPHU YRUDQ ZLUNW LPPHU VFKOLFKWHQG Pl L
JHQG

/LHEHU+DQV -UJHQ
GDVV GX PLW VR JURHP (QJDJHPHQW XQG XQHUPHVVOLFKHP 6DF K
ZLVVHQ GHP ,'9 EHLVWHKVW GDIU GDQNH LFK 'LU LP 1DPHQ GHV
JHVDPWHQ,'9DEHUDXFKLQPHLQHPSHUV|QOLFKHQ1DPHQKHXWH
DXV$QODVV'HLQHVUXQGHQ*HEXUWVWDJHVJDQ]KHU]OLFK

:QVFKH IU GLH =XNXQIW YLHO SRVLWLYH $XVVWUDKOXQJ YLHOH JXWH


)UHXQGH XQG )UHXQGLQQ HQ .ROOHJLQQHQ XQG .ROOHJHQ DXI GLH GX
GLFK YHUODVVHQ NDQQVW XQG YRU DOOHP YLHO 6SD DQ 'HXWVFK DOV
)UHPGVSUDFKH

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

)UGDV=LHO GHV,'9DOOH GUHL YLHUPLW /LHFKWHQVWHLQ /lQGHU LQ


GHQHQ 'HXWVFK GLH 0XWWHUVSUDFKH LVW LQ GHU :HOW EHL GHQ
'HXWVFKOHKUHU,QQHQXQG*HUPDQLVW,QQHQVLFKWEDU]X PDFKHQIU
GLHVHV VWUDWHJLVFKH $QOLHJHQ ILQGHQ ZLU LQ +DQV  -UJHQ .UXPP
HLQHQ VWHWV HQJDJLHUWHQ 8QWHUVWW]HU ,Q VHLQ HP :LUNHQ LVW HU
.RVPRSROLW 6HLQH JHQDXH .HQQWQLV GHV HQJHUHQ XQG ZHLWHUHQ
(XURSDXQGVHLQ,QWHUHVVHIUVHLQXQPLWWHOEDUHV:LUNXQJVXPIHOG
HQJHQVHLQHQ%OLFNQLFKWHLQ'DVV.ROOHJH1JDWFKDDXV.DPHUXQ
HLQHQ 3OHQDUYRUWUDJ EHL GHU  ,'7 LQ /HLS]LJ JHKDOW HQ KDW GD
PDOVHLQ1RYXPIUGLH,'7VLVWZRKODXI+DQV  -UJHQ.UXPP
]XUFN]XIKUHQ+HXWHLVWGHUYHUJHVVHQH.RQWLQHQWPLW6LW]XQG
6WLPPHLP,'9  9RUVWDQGYHUWUHWHQ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

%(5,&+7(81'%(,75b*(
0DLQWDLQLQJWKH0RPHQWXP
$XV]XJ DXV HLQHU OHVHQVZHUWH 6WXGLH XQVHUHV QRUGDPHULN D
QLVFKHQ0LWJOLHGVYHUEDQGHV
$XV]XJ HLQJHOHLWHW ]XVDPPHQJHIDVVW XQG VLQQJHPl EH U
VHW]W YRQ %ULJLWWH 2UWQHU :LHQ ([SHUWLQ IU |VWHUUHLFKLVFKH
'D) %HODQJHEHLP,'9

$QJHVLFKWV GHV DQKDOWHQGHQ 7UHQGV GDVV GLH (LQVFKUHLEXQJHQ


IU 'HXWVFK LQ GHQ &ROOHJHV ]XUFNJHKHQ  REZRKO GLH =DKO GHU
'HXWVFKOHUQHQGHQLQGHQ+LJK6FKRROVVWHLJWKDWGLH $$7*
HLQH 6WXGLH LQ $XIWUDJ JHJHEHQ GLH GLH 0RWLYH YRQ 'HXWVFKOH U
QHQGHQ IU GLH:DKO YRQ 'HXWVFK DQ GHU 6FKQLWWVWHOOH ]ZLVFKHQ
+LJK6FKRROXQG&ROOHJHV HPSLULVFKHUIRUVFKH QVROOWH
$XVGHPLQGHQ-DKUHQXQGJHVDPPHOWHQXPIDQJUH L
FKHQ 'DWHQPDWHULDO KDW GLH ([SHUWHQJUXSSH GLH IROJHQGHQ 
(PSIHKOXQJHQIUGLH*HVWDOWXQJGHV'HXWVFKXQWHUULFKWVKHUDX V
JHDUEHLWHW'LH(PSIHKOXQJHQULFKWHQVLFKDQ 'HXWVFKOHKUHULQQHQ
XQG'HXWVFKOHKUHU
 6HLHQ6LHHQWKXVLDVWLVFK

'HPRQVWULHUHQ6LH,KUH%HJHLVWHUXQJIUGLHGHXWVFKH6SUD
FKHWlJOLFKXQGVFKDIIHQ6LHIU,KUH /HUQHQGHQDQJHPHVVH
QH XQG OXVWYROOH $NWLYLWlWHQ GLH LQVEHVRQGHUH IU HLQH DQJVW
IUHLH $WPRVSKlUH LP  .ODVVHQUDXP VRUJHQ (U]lKOHQ 6LH LK
QHQ YRQ GHP 9HUJQJHQ GDV 6LH LQ HLQHP GHXWVFKVSUDFKL
JHQ/DQGHUOHEWKDEHQ

 *HEHQ 6LH GHQ /HUQHQGHQ KlXILJ *HOHJHQKHLW LKUHQ


/HUQIRUWVFKULWWVHOEVW]XHUIDKUHQ XQGQLFKWLKUH)HK
OHURGHULKUHQRFKIHKOHQGH.RPSHWHQ]

6HW]HQ 6LH HLQH 9LHOIDOW YRQ 7HFKQLNHQ ]XU )HVWVWHOOXQJ GHV


/HUQIRUWVFKULWWVGHU/HUQHQGHQHLQXQGVRUJHQ6LHIUHUPXWL
JHQGHV)HHGEDFN%HDFKWHQ6LHGDEHLGLH9LHOIDOWGHU)HUWLJ
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

NHLWHQ GLH PDQ EUDXFKW XP LQ GHU QHXHQ 6SUDFKH HIIHNWLY
NRPPXQL]LHUHQ]XN|QQHQ9HUVRUJHQ6LHGLH/HUQHQGHQODX
IHQGPLW%HZHLVHQLKUHV)RUWVFKULWWV,QIRUPLHUHQ6LHGLH/HU
QHQGHQEHU/DQJ]HLWLQGLNDWRUHQGHV)RUWVFKULWWV]%HLQHU
IROJUHLFKHV $XVODQGVVWXGLXP (UPXWLJHQ 6LH GLH /HUQHQGHQ
DQLKUH'HXWVFKNRPSHWHQ]DOVHLQHIRUWODXIHQGHOHEHQVODQJH
%HVFKlIWLJXQJ ]X GHQNHQ (UPXWLJHQ 6LH VLH OHEHQVODQJH
'HXWVFK/HUQHQGH]XVHLQ *HPHLQVFKDIWHQ FRPPXQLWLHV 
 (UPXWLJHQ 6LH GLH /HUQHQGHQ VR YLHO ZLH P|JOLFK ]X
VSUHFKHQ

%HUFNVLFKWLJHQ 6LH LQ ,KUHQ 8QWHUULFKWVDNWLYLWlWHQ GHQ


:XQVFK ,KUHU /HUQHQGHQ 'HXWVFK ]X VSUHFKHQ XQG HUPXWL
JHQ6LHVLHLKUH6SUHFKIHUWLJNHLW ]XHQWZLFNHOQ 1HKPHQ6LH
LKQHQ  GLH KHPPHQGH )XUFKW YRU IRUPDOHQ )HKOHUQ .RPPX
QLNDWLRQ
 )RNXVVLHUHQ 6LH DXI SUDNWLVFKH .RPPXQLNDWLRQ EHU
GDV0LWWHOGHV/HVHQVXQG6FKUHLEHQV

hEHUOHJHQ6LHVRUJIlOWLJZLH6LH/HVHQXQG6FKUHLEHQLP8Q
WHUULFKW SUlVHQWLHUHQ XQG OHKUHQ (QWZLFNHOQ 6LH $QVlW]H GLH
VLFK DXI GHQ NRPPXQLNDWLYHQ :HUW XQG SUDNWLVFKH $VSHNWH
YRQ JXWHQ /HVH XQG 6FKUHLEIHUWLJNHLWHQ EH]LHKHQ .RPPX
QLNDWLRQ
 %HWRQHQ6LHGHQ $XIEDXGHV:RUWVFKDW]HV

%HWRQHQXQGEHORKQHQ6LHGHQ :RUWVFKDW]HUZHUELQDOOHQ%H
UHLFKHQ GHV 6SUDFKXQWHUULFKWV 9HUZHQGHQ 6LH $OOWDJVZRUW
VFKDW] XQG KlXILJ YHUZHQGHWH 6SUDFKH 9HUVHW]HQ 6LH GLH
/HUQHQGHQ GDPLW LQ GLH /DJH LKUH *HIKOH XQG 0HLQXQJHQ
DXV]XGUFNHQ .RPPXQLNDWLRQ
 %HKDOWHQ6LHGLH*UDPPDWLNLP$XJH

hEHUOHJHQ6LHGLH5ROOHGHU*UDPPDWLNLQGHUWlJOLFKHQ8QWHU
ULFKWVSUD[LVLQVEHVRQGHUHLKUHQ=ZHFNXQGLKUH)XQNWLRQEHL
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

GHU 9HUEHVVHUXQJ GHV 6SUHFKHQV XQG +|UHQV %DODQFLHUHQ


6LH GLH *UDPPDWLN PLW DQGHUHQ $VSHNWHQ GHU 6SUDFKNRPSH
WHQ] DXV 6WHOOHQ 6LH VLFKHU GDVV *UDPPDWLNXQWHUULFKW HLQH
GLHQHQGH)XQNWLRQKDWEHLGHU(UUHLFKXQJYRQ8QWHUULFKWV]LH
OHQ ZLH VLH LQ 1DWLRQDOHQ 6WDQGDUGV YRUJHJHEHQ VLQG *UDP
PDWLN LVW NHLQ (UVDW] IU GLHVH 6WDQGDUGV .RPPXQLNDWLRQ
.XOWXU%H]LHKXQJHQXQG9HUELQGXQJHQ9HUJOHLFKH*HPHLQ
VFKDIWHQ
 ,QWHJULHUHQ 6LH 'HXWVFK LQ GDV $OOWDJVOHEHQ GHU /HU
QHQGHQ

(UIRUVFKHQXQGHQWZLFNHOQ6LH7HFKQLNHQGLHGHQ/HUQHQGHQ
]HLJHQZLHVLH'HXWVFKLQLKUHQ*HPHLQVFKDIWHQXQG LPWlJOL
FKHQ/HEHQDQZHQGHQN|QQHQ &RPPXQLWLHV
 9HUZHQGHQ 6LH 'HXWVFK IU GLH 3UlVHQWDWLRQ YRQ DQ
GHUHQ7KHPHQ

hEHUOHJHQ 6LH 7HFKQLNHQ XQG $NWLYLWlWHQ OlQJHUIULVWLJH 3UR


MHNWH HLQJHVFKORVVHQ  GLH VLFK DXI ,QKDOWH NRQ]HQWULHUHQ
.XQVW%UDXFKWXP/LWHUDWXUDNWXHOOH(UHLJQLVVH*HVFKLFKWH 
XQG GLH HV GHQ /HUQHQGHQ HUP|JOLFKHQ PLW GHU 6SUDFKH ]X
DUEHLWHQ LKUH )HUWLJNHLWHQ ]X YHUEHVVHUQ XQG QHXHQ :RUW
VFKDW] ]X HUZHUEHQ XP LKUH ,QWHUHVVHQ ]X YHUIROJHQ 9HU
ELQGXQJHQ*HPHLQVFKDIWHQ
 =HLJHQ 6LH GLH 9HUELQGXQJ YRQ 'HXWVFK ]X DQGHUHQ
DNDGHPLVFKHQ)lFKHUQDXI

=HLJHQ 6LH GHQ /HUQHQGHQ GHQ :HUW YRQ 'HXWVFK LQ .RPEL
QDWLRQ PLW DQGHUHQ DNDGHPLVFKHQ )lFKHUQ ,QIRUPLHUHQ 6LH
VLH EHU YHUIJEDUH 6WLSHQGLHQ IU 6WXGLHUHQGH XQG MXQJH
$EVROYHQW,QQHQ ]%'$$')XOEULJKW GLHHVLKQHQHUP|JOL
FKHQ GDV 'HXWVFKVWXGLXP PLW DQGHUHQ DNDGHPLVFKHQ /DXI
EDKQHQ]XNRPELQLHUHQ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

 =HLJHQ 6LH GHQ /HUQHQGHQ GHQ =XVDPPHQKDQJ ]ZL


VFKHQ'HXWVFKXQGHLQHUEUHLWHQ3DOHWWHYRQ.DUULHUH
]LHOHQ

(UPXWLJHQ6LHGLH/HUQHQGHQLKUH'HXWVFKNHQQWQLVVHPLWDQ
GHUHQ .DUULHUH]LHOHQ ]X YHUELQGHQ (ULQQHUQ 6LH VLH GDUDQ
GDVVHUVWUHEHQVZHUWH=LHOHQLFKWLPPHUJOHLFKXQGZLHVHOEVW
YHUVWlQGOLFK DXI GHU +DQG OLHJHQ XQG KHOIHQ 6LH LKQHQ LKUH
ODQJIULVWLJHQ 3OlQH XQG =LHOH LP $XJH ]X EHKDOWHQ 9HUELQ
GXQJHQ
 (QWZLFNHOQ 6LH GLH )lKLJNHLWHQ XQG )HUWLJNHLWHQ GHU
/HUQHQGHQ,QIRUPDWLRQHQ]XVDPPHOQ

%ULQJHQ6LHGHQ/HUQHQGHQEHL,QIRUPDWLRQHQ]XVDPPHQ]X
WUDJHQGLHRIWLQLKUHU1lKHOLHJHQLQVEHVRQGHUHEHUGHQ,Q
WHUQHW]XJDQJ ]XU GHXWVFK VSUHFKHQGHQ :HOW (UPXWLJHQ 6LH
VLHYLHOIlOWLJYHUIJEDUH,QIRUPDWLRQVTXHOOHQ]XEHQXW]HQXQG
GLHVHLQLKUHDNWXHOOHQ5HFKHUFKHQQDFKUHOHYDQWHUXQGPRWL
YLHUHQGHU,QIRUPDWLRQHLQ]XEH]LHKHQ 9HUELQGXQJHQ
 +DOWHQ 6LH ,KUH HLJHQH SURIHVVLRQHOOH :HLWHUHQWZLFN
OXQJKRFK

3IOHJHQ6LHHLQ8PIHOGLQ,KUHP'HXWVFK3URJUDPPGDVV6LH
XQG,KUH.ROOHJ,QQHQLQGLH/DJHYHUVHW]W+HUDXVIRUGHUXQJHQ
XQG bQGHUXQJHQ DQ]XQHKPHQ 9HUVXFKHQ 6LH GLH ODXIHQGH
6XFKHQDFK*HOGPLWWHOQIUGLH3URJUDPP9HUEHVVHUXQJ]X
HUPXWLJHQVRZLHGLHUHJHOPlLJH$NWXDOLVLHUXQJGHV&XUULFX
OXPVXQG GLH/HKUHUZHLWHUELOGXQJYRUDQ]XWUHLEHQ6WHOOHQ 6LH
VLFKHUGDVV,KU3URJUDPPGHQ:HUWXQGGLH2UJDQLVDWLRQYRQ
DXHUVFKXOLVFKHQ $NWLYLWlWHQ EHUFNVLFKWLJW 6WUHEHQ 6LH GDU
QDFK HLQH /HUQXPJHEXQJ ]X VFKDIIHQ GLH VRZHLW HV ,KUH
,QVWLWXWLRQ]XOlVVW GDV([SHULPHQWLHUHQPLW6WXQGHQZDKOXQG
.XUV'HVLJQV HEHQVR ZLH PLW DXHUVFKXOLVFKHQ $NWLYLWlWHQ
HUP|JOLFKW XP GDPLW DWWUDNWLY ]X VHLQ IU VR YLHOH /HUQHQGH
ZLHP|JOLFK

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

'LH $XWRU,QQHQ GHU 6WXGLH HPSIHKOHQ GHQ .ROOHJ,QQHQ lKQO L


FKH 8QWHUVXFKXQJHQ LQ LKUHP VFKXOLVFKHQ RGHU DNDGHP L
VFKHQ8PIHOGGXUFK]XIKUHQPLWGHP=LHOSXQNWJHQDXH' D
WHQ EHU GLH 0RWLYH IU GLH:DKO YRQ 'HXWVFK DQ LKUHQ HLJ H
QHQ 6WDQGRUWHQ ]X HUKDOWHQ XQG GXUFK HLQ DQ GLH MHZHLOLJHQ
(UJHEQLVVHDQJHSDVVWHV$QJHERWG LH:DKOIU'HXWVFKLPH L
JHQHQ8PIHOG]XI|UGHUQ6LHVWHOOHQGDV'HVLJQLKUHUHPSLU L
VFKHQ6WXGLHDOV*UXQGODJH]XU9HUIJXQJXQGHUPXWLJHQGLH
.ROOHJ,QQHQGLHVHVQDFKGHUHQHLJHQHP%HGDUI]XPRGLIL]L H
UHQXQG]XDGDSWLHUHQ
6WXGLHQGHVLJQXQG5RKGDWHQGHU 6WXGLHVLQGLP:::YHU| I
IHQWOLFKWZZZOOOXLXFHGXMZLWWHDDWJBUHSRUWV
'HU ,'9 9RUVWDQG GDQNW +HOHQH =LPPHU/RHZ *H
VFKlIWVIKUHULQ GHU $$7*  KHU]OLFK IU GLH $EGUXFNH U
ODXEQLV
$XV]XJ DXV

$QGUHVV 5HLQKDUG HWDO 0DLQWDLQLQJ WKH 0RPHQWXP IURP


+LJK 6FKRRO WR &ROOHJH 5HSRUW DQG 5HFRPPHQGDWLRQV
,Q'LH8QWHUULFKWVSUD[LV $-RXUQDORIWKH$PHULFDQ$VVRFL D
WLRQRI7HDFKHUVRI*HUPDQ+HIW  6HLWH 

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
4XDOLWlWXQG6RIWZDUH]XP6SUDFKHQOHUQHQ
GLH$UEHLWVJUXSSH(/,$6 1$&+7&/8%
0LFKDHO/DQJQHU,'9([SHUWH6FKZHL]

LQ%H]XJDXIPHGLDOXQWHUVWW]WHV)UHPGVSUDFKHQOHUQHQ]XGLVN X
WLHUHQ'D]XMHQHU=HLWDXVYHUVFKLHGHQHQ  KHXWHEDOGQLFKWPHKU
YHUVWHKEDUHQ  *UQGHQGDV6XUIHQLP,QWHUQHWQDFKWVZHVHQWOLFK
ELOOLJHUZDUDOVDP7DJHJDEVLFKGL H*UXSSHGDPDOVGHQ1DPHQ
1$&+7&/8% $XIJUXQG GHU 1lKH YRQ XQVHUL|VHQ :HEVHLWHQ LP
,QWHUQHW GLH :HEDGUHVVHQ PLW 1DFKWFOXE LP 1DPHQ IKUHQ
VDKHQ ZLU XQV GDQQ LP 6HSWHPEHU  JH]ZXQJHQ ]XPLQGHVW
IU GLH :HEDGUHVVH GHQ 1DPHQ ]X lQGHUQ XQG VHW]HQ XQVHUH
$UEHLW MHW]W XQWHU GHP $NURQ\P (/,$6 IRUW (YDOXDWLRQ YRQ /HUQ
VRIWZDUHXQG,QWHUQHW$QJHERWHQLP6SUDFKHQEHUHLFK 
'LH$UEHLWVJUXSSHLVWEUHLW]XVDPPHQJHVHW]W

9 OlQGHUEHUJUHLIHQG 'HXWVFKODQGgVWHUUHLFK6FKZHL]
9 ]LHOJUXSSHQEHUJUHLIHQG (UZDFKVHQHQELO GXQJ 8QLYHUVLWlW
9

XQG6FKXOH
VSUDFKHQEHUJUHLIHQG 6RIWZDUH XQG 2QOLQH $QJHERWH IU
'HXWVFK)UDQ]|VLVFK(QJOLVFKHWF

,Q HLQHP HUVWHQ 6FKULWW HQWZLFNHOWHQ ZLU HLQHQ (YDOXDWLRQVUDVWHU


IU GLH %HXUWHLOXQJ YRQ PHGLHQJH VWW]WHQ $QJHERWHQ /HUQVRI W
ZDUH  IU GDV /HUQHQ YRQ )UHPGVSUDFKHQ ,P 8QWHUVFKLHG ]X
HLQHU JDQ]HQ 5HLKH YRQ GDPDOV EHUHLWV YRUOLHJHQGHQ .ULWHULH Q
VDPPOXQJHQ OHJWHQ ZLU HLQHQ EHVRQGHUHQ 6FKZHUSXQNW DXI )U D
JHQGHU)UHPGVSUDFKHQ  XQG0HGLHQGLGDNWLN
1DFKGHU 3XEOLNDWLRQGLHVHV5DVWHUVIROJWH Q GLH(UVWHOOXQJ HUVWHU
(YDOXDWLRQHQPLWGLHVHP5DVWHUXQGGHUHQ$XIVFKDOWXQJDXIHLQH
:HEVHLWH ,Q]ZLVFKHQ OLHJHQ HLQH JDQ]H 5HLKH YRQ (YDOXDWLRQHQ
YRU GLH LQ HLQHU 2QOLQH 'DWHQEDQN ]XJlQJOLFK VLQG ZZZHOLDV 
QFRUJ ,QGHU'DWHQEDQNNDQQPLW+LOIHYRQ VSH]LILVFKHQ6FKO V
VHOZ|UWHUQQDFK(YDOXDWLRQHQJHVXFKWZHUGHQXQGGLHZLFKWLJVWHQ
,QIRUPDWLRQHQ GHU (YDOXDWLRQHQ VLQG DXI GHU :HEVHLWH VLFKWEDU
'LHYROOVWlQGLJHQ(YDOXDWLRQHQN|QQHQDOV3') 'DWHLKHUXQWHUJH
ODGHQXQGDXVJHGUXFNWZHUGHQ


'LH$UEHLWVJUXSSH

6HLW  WULIIW VLFK XQVHUH LQIRUPHOOH $UEHLWVJUXSSH ELVKHU


1$&+7&/8%QHX(/,$6 UHJHOPlV VLJ XPEHU4XDOLWlWVIUDJHQ
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

Im Sinne der Auffassung des Deutschen als plurizentrische Sprache


schreibe ich hier der Raster, weil das binnendeutsche Raster in der
Schweiz maskulin ist.
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

$XIGLHVHU:HEVHLW HILQGHWVLFKDXFKXQVHU.ULWHULHQUDVWHUXQGHLQ
%HLVSLHOUDVWHUDXVGHPKHUYRU JHKWZDVXQWHUGHQHLQ]HOQHQ. D
WHJRULHQ]XYHUVWHKHQLVW'LHVH5DVWHUOLHJHQDXI'HXWVFK)UD Q
]|VLVFK XQG (QJOLVFK MHZHLOV LQ ]ZHL )RUPDWHQ :LQZRUG 'DWHL
XQG3')'DWHL YRU
,Q HLQHP QlFKVWHQ 6FKULWW LVW GLH (LQIKUXQJ HLQHU HLQIDFKHQ YH U
VWlQGOLFKHQ 6FKQHOOEHZHUWXQJ PLW HLQHU (LQ  ELV )QI6WHUQ
/|VXQJ JHSODQW HWZD VR ZLH GLH 6WHUQH IU +RWHOV E]Z GLH
.RFKPW]HQIU5HVWDXUDQWV 
$UEHLWVEHUHLFKH

6HLWLKUHP%HVWHKHQZLGP HWVLFKGLH$UEHLWVJUXSSH(/,$6)UDJHQ
GHU 4XDOLWlW YRQ )UHPGVSUDFKHQ /HUQDQJHERWHQ =X %HJLQQ JLQJ
HVXPGLH(UVWHOOXQJHLQHVDXVVDJHNUlIWLJHQ5DVWHUV]XU%HXUWH L
OXQJ YRQ &'520V 2IIOLQH0HGLHQ  ,Q OHW]WHU =HLW NDPHQ GDQQ
hEHUOHJXQJHQ KLQ]X 2Q OLQH0HGLHQ LQ GLH (YDOXDWLRQ KLQHLQ] X
QHKPHQ

HLQHUGLHVHUGUHL6SUDFKHQJHVFKULHEHQGKZHQQ%HQXW]HU,QQHQ
EHUGLH$QJDEHQDXIGHU:HEVHLWHKLQDXVGLHJHVDPWH(YDOXDW L
RQ OHVHQ P|FKWHQ VLQG .HQQWQLVVH LQ GHU MHZHLOLJHQ 6SUDFKH
Q|WLJ
(YDOXDWLRQVNULWHULHQ2QOLQH0HGLHQ

,Q LKUHQ QlFKVWHQ 6LW]XQJHQ ZLUG GLH $UEH LWVJUXSSH DQ HLQHU
$GDSWLRQ GHV ELVKHULJHQ 5DVWHUV IU 2QOLQH $QJHERWH DUEHLWHQ
+LHUPLW VROO DXI GHQ 7UHQG UHDJLHUW ZHUGHQ GDVV ]XQHKPHQG
)UHPGVSUDFKHQ/HUQDQJHERWH LP ,QWHUQHW ]XU 9HUIJXQJ JHVWHOOW
ZHUGHQ (V LVW DOOHUGLQJV QRFK XQNODU ZLH NRPPHU]LHO OH 2QOLQH
$QJHERWH LQ GLH (YDOXDWLRQ HLQEH]RJHQ ZHUGHQ N|QQHQ GD GLH
$UEHLWVJUXSSHEHUNHLQHILQDQ]LHOOHQ0LWWHOYHUIJW
(/,$6 TXRYDGLV"

8QVHUH :HEVHLWH LVW GHU]HLW GUHLVSUDFKLJ 'HXWVFK )UDQ]|VLVFK


(QJOLVFK  XQGLQGLHVHQGUHL6SUD FKHQNDQQDXFKPLW6XFKEHJUL I
IHQ JHDUEHLWHW ZHUGHQ 'LH MHZHLOLJH (YDOXDWLRQ LVW GDQQ QXU LQ

(LQH /LQNOLVWH ]X ZHLWHUHQ (YDOXDWLRQHQ 9HUNQSIXQJHQ ]X 2QO L


QH3XEOLNDWLRQHQXQG.XU]EHVSUHFKXQJHQLQWHUHVVDQ WHU3XEOLNDWL
RQHQ]XP7KHPD1HXH0HGLHQXQG6SUDFKHQOHUQHQUXQGHQGDV
$QJHERWXQVHUHU:HEVHLWHLQ]ZLVFKHQDE
,P0RPHQWLVWXQVHUH$UEHLWVJUXSSHDXFKGDPLWEHVFKlIWLJW0 R
GXOH IU GLH )RUW  XQG :HLWHUELOGXQJ LP %HUHLFK 0HGLHQGLGDNWLN
XQG )UHPGVSUDFKHQO HUQHQ ]X HQWZLFNHOQ :LU P|FKWHQ VSlWH 
VWHQV ]X %HJLQQ GHV QlFKVWHQ -DKUHV GLH (QWZUIH IU HLQ .XU ]
PRGXO  7DJH %ORFNNXUV  XQG HLQ /DQJPRGXO  6HPHVWHUYH U
DQVWDOWXQJ PLW  K SUR :RFKH  GLVNXWLHUHQ :LU ELHWHQ GDPLW IU
,QVWLWXWLRQHQ GHU (UZDFKVHQHQELO GXQJ E]Z GHU /HKUHUDXVELOGXQJ
GLH0|JOLFKNHLWGLHVH0RGXOHLQLKUH$XVELOGXQJVNRQ]HSWHHLQ] X
EDXHQ 0LWJOLHGHU XQVHUHU $UEHLWVJUXSSH N|QQHQ GD]X DQJHIUDJW
ZHUGHQ 6FKZHUSXQNWH GHU 0RGXOH VLQG )UDJHQ GHU )UHPGVSU D
FKHQHUZHUEVIRUVFKXQJ 0HGLHQ ZLUNXQJ 0HWKR GHQGLVNXVVLRQ
4XDOLWlWVNULWHULHQHWF
8P GLH =DKO YRQ (YDOXDWLRQHQ P|JOLFKVW UDVFK ]X YHUJU|VVHUQ
VXFKHQ ZLU .ROOHJLQQHQ XQG .ROOH JHQ GLH PLW XQVHUHP 5DVWHU
(UVW(YDOXDWLRQHQ HUVWHOOHQ XQG XQV GLHVH ]XVHQGHQ 0LWJOLHGHU
XQVHUHU $UEHLWVJUXSSH IHUWLJHQ L Q HLQHP ZHLWHUHQ $UEHLWVVFKULWW
HLQH VR JHQDQQWH =ZHLW (YDOXDWLRQ DQ :HQQ ]ZLVFKHQ GLHVHQ
EHLGHQ (YDOXDWLRQHQ HLQH JU|VVHUH hEHUHLQVWLPPXQJ EHVWHKW

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

(YDOXDWLRQVNULWHULHQ2IIOLQH0HGLHQ

'HU GHU]HLWLJH 5DVWHU HQWKlOW ]ZHL YHUVFKLHGHQH .DWHJRULHQ YRQ


.ULWHULHQHLQHUVHLWVEHVFKUHLEHQGHXQGDQGHUHUVHLWVEHZHUWHQGH
(V LVW DOV /HLWIDGHQ ]XU (UVWHOOXQJ YRQ DXVVDJHNUlIW LJHQ %HVSUH
FKXQJHQJHGDFKW'LHGHU]HLWLJH9HUVLRQLVW LQ HUVWHU /LQLHIUVR
JHQDQQWH 2IIOLQH$QJHERWH &'520V  JHGDFKW DEHU QLFKW QXU
IU6SUDFKOHUQVRIWZDUHLPHQJHUHQ6LQQHVRQGHUQDXFKIU6RIW 
ZDUH GLH QLFKW HLJHQWOLFK IU GDV )UHPGVSUDFKHQOHUQHQ GLGDNWL
VLHUW ZXUGH DEHU WURW]GHP VLQQYROO IU VROFKH /HUQSUR]HVVH HL Q
JHVHW]W ZHUGHQ NDQQ ]% +LOIVPLWWHO :|UWHUEFKHU .RQNR U
GDQ]SURJUDPPH $UFKLYH =HLWXQJVDUFKLYH &' 520V ]XU *H
VFKLFKWH 6WDDWVNXQGH HWF 6LPXODWLRQHQ :LUWVFKDIWVVLPXODWL R
QHQHWF 
:HEEDVLHUWH'DWHQEDQN,QWHUQHWDXIWULWW

ZLUG HLQH 6FKOXVV (YDOXDWLRQ LP 1HW] SXEOL]LHUW GLH GLH $XWRUHQ
XQG $XWRULQQHQ EHLGHU (YDOXDWLRQHQ QHQQW .ROOHJLQQHQ XQG .R O
OHJHQGLHVLFKIUDJHQREVLHVLFKDQXQVHUHU$UEHLWVJUXSSHEHWH L
OLJHQ VROOWHQ P|FKWHQ ZLU DXVGUFNOLFK GD]X HUPXQWHUQ PLW GHP
$XWRUGLHVHV$UWLNHOV0LFKDHO/DQJQHURGHUDQGHUHQ0LWJOLHGHUQ
.RQWDNWDXI]XQHKPHQ
(0DLOPLFKDHOODQJQHU#XQLIUFK RGHULQIR#HOLDVQFRUJ
:HEZZZHOLDVQFRUJ

$86'(19(5%b1'(1
5HJLRQDOH=XVDPPHQDUEHLW HLQH
NXU]H%LODQ]DXVVHUELVFKHU6LFKW

YRQ6DQGUD%UHX

8WRSLHRGHUGRFKQLFKW"

0LW GLHVHP *HGDQNHQ YHUOLHHQ ZLU YRU GUHL -DKUHQ 6NRSMH ZR
GDV (UVWH 5HJLRQDOWUHIIHQ GHU 'HXWVFKOHKUHUYHUElQGH LQ 6GRV W
HXURSD VWDWWIDQG 6LQG ZLU EHUKDXSW EHUHLW XQG IlKLJ ]XVDPPHQ
]X DUEHLWHQ" $OOHV VLHKW VR VFK|Q DXV ZHQQ PDQ HV EHVSULFKW
DEHUGDQQZHQQPDQGDVXPVHW]HQVROO":LHEHZlOWLJHQZLUGLH
8QWHUVFKLHGH":LHIURKZDUHQZLUGDQQDOVZLUEHLXQVHUHUHU V
WHQ 0RVDLN5HGDNWLRQVVLW]XQJ LQ =DJUHE HQWGHFNWHQ GDVV DOOH
GLHVH bQJVWH RKQH *UXQG ZDUHQ 8QG GDV ZDU QXU GHU $QIDQJ
XQVHUHU ZLUNOLFKHQ =XVDPPHQDUEHLW %DOG GDUDXI IROJWH GDV 
5HJLRQDOWUHIIHQLQ7UQDYD6ORZDNHLGDV0RVDLN+HIWGLH0RV D
LN:HEVHLWH GDV  5HJLRQDOWUHIIHQ LQ $OEHQD%XOJDULHQ XQG MHW]W
GDV0RVDLN+HIWGDVKHXWHYRUXQVOLHJW
8QVHUH UHJLRQDOHQ 7UHIIHQ ZDUHQ NHLQ 6HOEVW]ZHFN +LHU ZXUGH
XQVHUH=XVDPPHQDUEHLWPLW ZHLWHUHQ 3URMHNWHQLPPHUNRQNUHWHU
'HU3ODQGHULQ$OEHQDDXIJHVWHOOWZXUGHZDUHKUJHL]LJXQG
XPIDQJUHLFKXQGVDKVRDXV
3URMHNWH]XUUHJLR
QDOHQ=XVDPPHQ
DUEHLWGHU'/9
$XIVDW]ZHWWEH
ZHUEIU6FK
OHULQQHQ
6FKOHUJUXSSH
=HLWXQJSDUDOOHO]X
GHU/HKUHUIRUWELO
GXQJ0LWHLQDQGHU
OHEHQ
$XVWDXVFKYRQ
6FKXODGUHVVHQ
7KHDWHURO\PSLDGH

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

3URMHNWSDUWQHU

=XVWlQGLJHU 7HUPLQ
'/9

.|UEHU6WLIWXQJ+DP %'9
EXUJ
.|UEHU6WLIWXQJ+DP %'9
EXUJ*,6RILD
DOOH'/9HUElQGH

2NWREHU
+HUEVW

.RQWDNWSHU (QGH$SULO
VRQHQGHU 
9HUElQGH
$'9


(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

6FKOHUDXIIK
UXQJLQ5XPlQLHQ

)UHPGVSUDFKHQJ\P 5'9
QDVLXP
'REULWVFK %J
5HJLRQDOH/HKUHU .|UEHU6WLIWXQJ+DP %'9
IRUWELOGXQJ0LWHLQ EXUJ
DQGHUOHEHQ
*,6RILD
5HJLRQDOWUHIIHQ
5HGDNWLRQVWUHIIHQ
026$,.1U
,QWHUQDWLRQDOH
'HXWVFKRO\PSLDGH
$*/HKUZHUNH
EHLP9LHUWHQ5HJLR
QDOWUHIIHQ
:HE6HLWH
KWWSZZZGDI
PRVDLNRUJ,QWHU
QHWVHLWHIU62('/
5HJLRQDOHV
6HPLQDU]XUgIIHQW
OLFKNHLWVDUEHLW
$XVWDXVFKYRQ
9HUEDQGV]HLWVFKULI
WHQ

2NWREHU


0DL
+HUEVW
]ZHL7HUPLQH

+HUEVW

*,%HOJUDG

6'9

,'9

5'9
6'9

)UKMDKU
6RPPHU
+HUEVW

*,%HOJUDG

6'9

0DL

*,6RILD

%'9



DOOH9HUElQGH

DOOH9HUElQ DEVRIRUW
GH

*,%HOJUDG

8QVHUH%LODQ]LP+HUEVWGHV -DKUHV5HJLRQDOH3URMHNWHGHU
'HXWVFKOHKUHUYHUElQGH VLQG IDVW VFKRQ HLQH 6HOEVWYHUVWlQGOLF K
NHLWJHZRUGHQ)DVWDOOH3URMHNWHDXVGHU3ODQXQJYRQ ZX U
GHQ UHDOLVLHUW 8QG ZLU ZROOHQ QLFKW GDEHL VWHKHQ EOHLEHQ 'DV 
5HJLRQDOWUHIIHQLQ%HOJUDGYRP JDEXQVGLH0| J
OLFKNHLWXQVHUHJHPHLQVDPH$UEHLW ]XIHVWLJHQ XQG ZHLWHU DXV] X
EDXHQ'DV7UHIIHQYHUOLHIQDFKIROJHQGHU7DJHVRUGQXQJ
 %HULFKWGHV%'9EHUGLH'XUFKIKUXQJGHU3URMHNWHGLHLQ
$OEHQDLP-DKUEHLP5HJLRQDOWUHIIHQEHVS URFKHQ
ZXUGHQ
 9HUEDQGVVDW]XQJHQ
 =DJUHEHU5HVROXWLRQ
 3URMHNWH

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

1RFK HLQPDO ZXUGH IHVWJHVWHOOW GDVV IDVW DOOH 3URMHNWH GXUFKJ H


IKUWZXUGHQRGHUJHUDGHODXIHQ'DV3URMHNW0LWHLQDQGHU/HEHQ
ZLUG QRFK HLQ -DKU ODQJ DXV GHQ 0LWWHOQ GHV 6WDELOLWlWVSDNWHV I L
QDQ]LHUW ZDV EHGHXWHW GDVV GHU %'9 QDFK QHXHQ *HOGJHEHUQ
VXFKHQPXVV
(V ZXUGHQ EHVWLPPWH 3XQNWH GHU 9HUEDQGVVDW]XQJHQ EHVSU R
FKHQ 9RUVWDQGVPLWJOLHGV]DKO 0DQGDW 9RUVLW]HQGH 7DJXQJHQ
$NWLYLWlWHQXQG0LWWHO
,P 'XUFKVFKQLWW KDEHQ DOOH 9HUElQGH HLQHQ 9RUVW DQG GHU 
0LWJOLHGHU]lKOW'DV0DQGDWGDXHUW-DKUHODQJXQGGLH0LWJOL H
GHUN|QQHQQHXJHZlKOWZHUGHQ)DVWDOOH9HUElQGHRUJDQLVLHUHQ
HLQPDO SUR -DKU LKUH 7DJXQJ DXHU GHP 6HUELVFKHQ XQG GHP
6ORZDNLVFKHQ '/9 'HU 8PIDQJ GHU 9HUEDQGV $NWLYLWlWHQ LVW DO
OHUGLQJV YRQ /DQG ]X /DQG VHKU XQWHUVFKLHGOLFK 'LH 0LWWHO E H
NRPPHQ IDVW DOOH YRQ GHQ 3DUWQHUQ DEHU HLQLJH DXFK YRQ 6SR Q
VRUHQXQG6WLIWXQJHQ
$OOH DQZHVHQGHQ 9HUWUHWHU GHU '/9 DXV GHU 5HJLRQ KDEHQ GLH
=DJUHEHU 5HVROXWLRQ XQWHUVFKULHEHQ QDFK GHU PDQ ) UHPGVSUD
FKHQVHKUIUKOHUQHQVROOVFKRQDEGHUHUVWHQ.ODVVHGHU*UXQ G
VFKXOH XQG ]ZDU ]XHUVW GLH 6SUDFKH GHV 1DFKEDUODQGHV XQG G D
QDFK(QJOLVFK
'HUQlFKVWH$NWLRQVSODQVLHKWIROJHQGHUPDHQDXV
$XIVDW]ZHWWEHZHUEIU6FKOHULQQHQ
$XVWDXVFKYRQ6FKXODGUHVVHQQDFK
IROJHQGHP)RUPXODU6FKXOH$GUHVVH
GHU6FKXOH$OWHUGHU6FKOHU/DQGIU
3DUWQHU,QWHUHVVH
7KHDWHUIHVWLYDO
5HJLRQDOH/HKUHUIRUWELOGXQJ0LWHLQ
DQGHUOHEHQ
5HJLRQDOWUHIIHQ5HGDNWLRQVWUHIIHQ
026$,.1U7KHPD%LOGHULP
'HXWVFKXQWHUULFKW$XIODJH
%HLWUDJOlQJHPD[6HLWHQ
:HE6HLWHKWWSZZZGDI
PRVDLNRUJ,QWHUQHWVHLWHIU'/LQ62(
5HJLRQDOHV6HPLQDU]XUgIIHQWOLFK
NHLWVDUEHLW

%'9
6'9
.RQWDNWSHU
VRQHQGHU
9HUElQGH
5'9*,
%'9.|U
EHU6WLIWXQJ
5'9

+HUEVW
IRUWODXIHQG

6'9

IRUWODXIHQG

%'9

-XQL


 2NWREHU
 0DL

 'H]HPEHU


(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

8QG VR LVW DXV HWZDV DQ GDV DQIDQJV VFKZHU ]X JODXEHQ ZDU
GRFK :LUNOLFKNHLW JHZRUGHQ 8QG LFK ELQ PLU VLFKHU GDVV MHGHU
XQWHU GHQ  9HUElQGHQ GLH ELV MHW]W DQ DOOHQ GLHVHQ 3URMHNWHQ
WHLOQDKPHQ VHKU VWRO] GDUDXI LVW :LU GLH 0LWJOLHGHU GHV 6HUE L
VFKHQ 'HXWVFKOHKUHUYHUEDQGHV VLQG HV DXI MHGHQ )DOO GHQQ GDV
KDWXQVQLFKWQXUHLQHQHXH%HOHEXQ JGHVGDPDOVJHUDGHJHJU Q
GHWHQ XQG GDQQ IDVW DXIJHO|VWHQ 9HUEDQGHV JHEUDFKW VRQGHUQ
YLHO PHKU XQV LQ HLQH Y|OOLJ QHXH :HOW GHU RVWHXURSlLVFKHQ = X
VDPPHQDUEHLWJHIKUWXQV]XHLQHPZLUNOLFKHQ7HLOGHULQWHUQDW L
RQDOHQ %HZHJXQJHQ LP %HUHLFK GHU 'HXWVFKHQ 6 SUDFKH DOV
)UHPGVSUDFKHXQG]XPJOHLFKEHUHFKWLJWHQ3DUWQHULQGHU5HJLRQ
JHPDFKW

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

'HOHJLHUWHQVHPLQDU

'HXWVFKOHKUHUYHUElQGH/DWHLQDPHULNDVWUHIIHQ
VLFKLQ6mR/HRSROGR%UDVLOLHQ

0DUFR$XUHOLR6FKDXPORHIIHO
6FKULIWOHLWHUGHV,'9

9HUEDQGVYHUWUHWHUDXV/lQGHUQWUDIHQVLFKYRPELV
-XOL LQ 6mR /HRSROGR %UDVLOLHQ 'DV  'HOHJLHUWHQVHPLQDU GHV
,QWHUQDWLRQDOHQ 'HXWVFKOHKUHUYHUEDQGV ,'9  IDQG LP $QVFKOXVV
DQ GHQ EUDVLOLDQLVFKHQ 'HXWVFKOHKUHUNRQJUHVV VWDW W XQG IKUWH
'HOHJLHUWH DXV $UJHQWLQLHQ %ROLYLHQ %UDVLOLHQ &KLOH (FXDGRU
.ROXPELHQ .XED 0H[LNR 3DUDJXD\ 3HUX 8UXJXD\ XQG 9HQ H
]XHOD]XVDPPHQ

VFKULIWIUGHQ0HUFRVXUXQWHUGHQ9HUElQGHQGHU5HJLRQURWLHUHQ
]XODVVHQQLFKWUHDOLVLHUWZHUGHQNRQQWHN|QQHVLFKGDV YRQGHU
DUJHQWLQLVFKHQ XQG EUDVLOLDQLVFKHQ 5HGDNWLRQ DEZHFKVHOQG H U
VWHOOWH3URGXNWVHKHQODVVHQ(VILQGHYRQYHUVFKLHGHQHQ6HLWHQ
VR ]% VHLWHQV GHV ,'9 YLHO $QHUNHQQXQJ 'D GLH PHLVWHQ 9H U
ElQGH QRUPDOHUZHLVH PLW NHLQHUOHL 8QWHUVWW]XQJ UHFKQHQ N|Q Q
WHQ VHL IU VLH DEHU HLQH GHUDUWLJH $XIJDEH ZHGHU DUEHLWVPlLJ
QRFK ILQDQ]LHOO PDFKEDU $XV GLHVHP *UXQG XQG GHP :XQVFK
GHQ VRZRKO LQKDOWOLFK DOV DXFK JHVWDOWHULVFK HUUHLFKWHQ 6WDQGDUG
]X KDOWHQ VFKOXJ 'Ul[OHU YRU GLH =HLWVFKULIW GHV 0HUFRVXU DXI
JDQ]/DWHLQDPHULNDDXV]XGHKQHQ $EVROOWHQGLH0LWJOLHGHU
DOOHU ODWHLQDPHULNDQLVFKHQ 'HXWVFKOHKUHUYHUElQGH GLH =HLWVFKULIW
HUKDOWHQ 7URW] GHU ELVKHU WHLOZHLVH QHJDWLYHQ (UIDKUXQJHQ VROOH
DQ GHU URWLHUHQGHQ 5HGDNWLRQ IHVWJHKDOWHQ ZHUGHQ 'DEHL ZlUH
GDUDXI]X DFKWHQGDVVGLH2UJDQLVDWLRQXQG'XUFKIKUXQJVRZLH
GLH 9HUWHLOXQJGHUHUVWHQ1XPPHU]XHUVWHLQPDOYRQ HLQHUHUID K
UHQHQ 5HGDNWLRQ EHUQRPPHQ ZHUGHQ 'LHVH VROOH YRQ MHZHLOV
HLQHP NRUUHVSRQGLHUHQGHQ 5HGDNWLRQVPLWJOLHG SUR /DQG XQWH U
VWW]W ZHUGHQ 'LH DQZHV HQGHQ 9HUWUHWHU GHV *RHWKH ,QVWLWXWV
GDV ELVKHU GLH 'D) %UFNH ILQDQ]LHOO XQWHUVWW]W VDJWHQ GLH 8 Q
WHUVWW]XQJ GHU ODWHLQDPHULNDZHLWHQ 'HXWVFKOHKUHU]HLWVFKULIW ]X
)U GLH 9HUElQGH HQWVWQGH DXI GLHVH :HLVH QXU HLQH JHULQJH
ILQDQ]LHOOH%HODVWXQJ

=X %HJLQQ VWHOOWHQ GLH 7HLOQHKPHU LKUH 9HUElQGH NXU] YRU -HGHU
9HUEDQGSUlVHQWLHUWHVHLQHZLFKWLJVWHQ =LHOHXQG$XIJDEHQVRZLH
$NWLYLWlWHQ 3URMHNWH XQG 3UREOHPH 1DFK GLHVHP ,QIRUPDWLRQ V
DXVWDXVFK VWDQG GLH =HLWVFKULIW 'D) %UFNH DXI GHU 7DJHVRU G
QXQJ +DQV'LHWHU 'Ul[OHU *, %XHQRV $LUHV  6FKULIWOHLWHU GHU
=HLWVFKULIWHQ ,QIR 'D) $UJHQWLQLHQ XQG 'D) %UFNH ZDU HLQJHOD
GHQ EHU GLH VHLW  JHVDPPHOWHQ (UIDKUXQJ ]X EHULFKWHQ
2EZRKO GDV XUVSUQJOLFKH 9RUKDEHQ GLH 5HGDNWLRQ GLHVHU =HL W

'DGLHVHV7KHPDYRQDOOHQ$QZHVHQGHQDOVlXHUVWZLFKWLJHP S
IXQGHQ ZXUGH ELOGHWH PDQ HLQH $UEHLWVJUXSSH 'LH 9RUVFKOlJH
YRQ 'Ul[OHU ZXUGHQ GLVNXWLHUW HUJlQ]W XQG DP (QGH GHV 9HUWU H
WHUWUHIIHQV DQJHQRPPHQ ,P 3OHQXP ZXUGH DXHUGHP HQWVFKL H
GHQ GDVV MHGHU 5HGDNWH XU HU PXVV QLFKW XQEHGLQJW GHP 9R U
VWDQG DQJHK|UHQ ZLUG DEHU YRQ LKP HUQDQQW  GLH $XIJDEH KDW
.RQWDNW]X$XWRUHQYRU2UWDXI]XQHKPHQXQGHLQH9RUDXVZDKODQ
$UWLNHOQ ]XVDPPHQ]XVWHOOHQ 9HUElQGH GLH GLHVH %HGLQJXQJ
QLFKW HLQKDOWHQ HUKDOWHQ GLH QlFKVWH $ XVJDEH GHU  'D) %UFNH
QLFKW PHKU 2EPLW7KHPHQVFKZHUSXQNWHQ JHDUEHLWHW ZLUG EOHLEW
GHU MHZHLOLJHQ 5HGDNWLRQ EHUODVVHQ 'LH HLQ]LJH %HGLQJXQJ LVW
GDVVVWHWVHLQLQKDOWOLFKHV*OHLFKJHZLFKW]ZLVFKHQDNDGHPLVFKHQ
XQG XQWHUULFKWVSUDNWLVFKHQ $UWLNHOQ VRZLH 9HUEDQGVQDFKULFKWHQ
DXIUHFKWHUKDOWHQZHUGHQVROO'DLQGHU5HJLRQLQVJHVDPW9H U
ElQGH DQVlVVLJ VLQG XQG GLH 'D) %UFNH DXV ELV ]X  6HLWHQ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

EHVWHKW YHUIJW MHGHU 9HUEDQG HWZD EHU VHFKV 6HLWHQ SUR $X V


JDEH 'LHVH VROOWHQ PLW ,QKDOWHQ JHIOOW ZHUGHQ GLH YRQ OlQ
GHUEHUJUHLIHQGHP ,QWHUHVVH VLQG 9HUEDQGV  RGHU ODQGHVVSH]LI L
VFKH ,QIRUPDWLRQHQ N|QQHQ LQ )RUP HLQHV %HLEODWWV GHU 'D) 
%UFNH KLQ]XJHIJW ZHUGHQ 'HU 'HXWVFKOHKUHUYHUEDQG 3DUDJ X
D\V HUNOlUWH VLFK GXUFK /HWLFLD 0DUTXL]R EHUHLW GLH $XVJDEH GHV
-DKUHV]XEHUQHKPHQ'HU'HXWVFKOHKUHUYHUEDQG0H[LNRV
EHUQLPPWGLHVH$XIJDEH(LQHGHILQLWLYH=XVDJHHUIROJWLP
1RYHPEHU  'LH OHW]WH 0HUFRVXU 'D)%UFNH HUVFKHLQW
0LWWH1RYHPEHU6LHZLUGDEHUVFKRQDQDOOH9HUElQGHYH U
WHLOWZHUGHQ

(LQH]ZHLWH$UEHLWVJHPHLQVFKDIWEHVFKlIWLJWHVLFKDXIGHP'HO H
JLHUWHQVHPLQDUPLWGHU2UJDQLVDWLRQGHV9HUEDQGVNDOHQGHUVGK
PLW GHU 7HUPLQSODQXQJ GHU .RQJUHVVH XQG GHU 7DJXQJHQ IU GLH
*URUHJLRQ /DWHLQDPHULND VR GDVV HLQ NRQWLQXLHUOLFKHV $QJHERW
HQWVWHKW 6HLW  H[LVWLHUW HLQH GHUDUWLJH $EVSUDFKH ]ZLVFKHQ
GHQ 9HUElQGHQ GHV 0HUFRVXUV PLW GHP (UIROJ GDVV GLH 7UHIIHQ
VHLWKHU HLQHQ LQWHUQDWLRQDOHQ &KDUDNWHU KDWWHQ GK GDVV VWHWV
9HUWUHWHU DXV DQGHUHQ /lQGHUQ HLQJHODGHQ ZDUHQ 'HU QlFKVWH
GDQQ ODWHLQDPHU LNDZHLWH 'HXWVFKOHKUHUNRQJUHVV ZLUG JHPl GHV
9LHU-DKUHV5K\WKPXVLQ/LPD3HUXVWDWWILQGHQ'LHVH* H
OHJHQKHLW VROO DXFK ZLHGHU IU HLQ 'HOHJLHUWHQVHPLQDU JHQXW]W
ZHUGHQ 'LH LQ 5HJLRQDOWUHIIHQ HUIDKUHQHQ 9HUElQGH ERWHQ LKUH
8QWHUVWW]XQJDQ=XU,Q WHQVLYLHUXQJGHUJHJHQVHLWLJHQ,QIRUPDW L
RQEHU9HUDQVWDOWXQJHQXQG]XPHIIHNWLYHUHQ(LQVDW]YRQ5HI H
UHQWHQVROOWHQDXIGHU,QWHUQHWVHLWH KWWSZZZGHOLODZV QRFKPHKU
DNWXHOOH ,QIRUPDWLRQHQ EHU DOOH VGDPHULNDQLVFKH Q 9HUElQGH
DEUXIEDUVHLQ
'LH GULWWH $UEHLWVJUXSSH ZLGPHWH VLFK GLHVHU :HEVHLWH GHU
'HXWVFKOHKUHULQ/DWHLQDPHULND 'H/L/$ =LHOGHU*UXSSHZDUHV
9RUVFKOlJH ]XU 9HUEHVVHUXQJ GHV ,QWHUQHWDQJHERWV ]X VDPPHOQ
XQG]XEHUOHJHQZLHPDQGLH6HLWHDWWUDNWLYH UJHVWDOWHQN|QQWH
'LHHUVWH0DQDKPHGLHELV(QGH1RYHPEHUGXUFKJHIKUW
ZHUGHQ VROO LVW HLQHQ 9HUDQVWDOWXQJVNDOHQGHU HLQ]XEDXHQ 6R
VROOHQ DOOH 0LWJOLHGHU HLQHQ hEHUEOLFN GDUEHU EHNRPPHQ ZDV
ZDQQXQG ZROlXIW(LQ ZHLWHUHU 9RUVFKODJ ZDUHLQH 0 DWHULDOLHQ
VDPPOXQJ IU 'HXWVFK DOV )UHPGVSUDFKH DQ]XOHJHQ 7URW] (L Q
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

ZlQGHQ ZXUGH HQWVFKLHGHQ GLHVH 5XEULN DOV HLQH ZHLWHUH 3XEO L


NDWLRQVP|JOLFKNHLW IU 0LWJOLHGHU HLQ]XULFKWHQ (LQ ]ZHLWHU
6FKZHUSXQNW VROO PLW HLQHU /LQNVDPPOXQJ ]X GHQ VFKRQ H[LVWL H
UHQGHQ 0DWHULDOLHQ LP 1HW] JHVHW]W ZHUGHQ $OV GULWWH 5XEULN LVW
HLQH 8QWHUVHLWH YRQ 'H/L/$ ]XP 7KHPD :LH JUQGH LFK HLQHQ
'HXWVFKOHKUHUYHUEDQG" JHSODQW GLH PLW GHU 6HLWH
KWWSZZZLGYQHW]RUJ YHUNQSIW ZHUGHQ VROO (LQ H YLHUWH 5XEULN
VROO DOV $UFKLY IU 6LW]XQJVSURWRNROOH GLHQHQ 'RUW LVW DXFK GDV
DXVIKUOLFKH 3URWRNROO GHV 'HOHJLHUWHQVHPLQDUV 6mR /HRSROGR
HLQVHKEDU
=LHO GHU ,QWHUQHWVHLWH LVW HV XD GXUFK DXVUHLFKHQGHQ 6SHLFKH U
SODW]DXIGHPJHPHLQVDPHQ6HUYHUDOOH Q9HUElQGHQLQGHU5HJ L
RQ HLQH HLJHQH :HEVHLWH ]X HUP|JOLFKHQ )DOOV HV 6FKZLHULJNH L
WHQ EHL GHU (LQULFKWXQJ JHEHQ VROOWH KLOIW GHU :HEPDVWHU ZHLWHU
'LH 5HGDNWLRQ GHU 'D) %UFNH ZLUG DXHUGHP DE VRIRUW GLH ( U
ODXEQLV GHU $XWRUHQ HLQKROHQ LKUH $UWLNHO LQ H LQHU HOHNWURQLVFKHQ
9HUVLRQGHU=HLWVFKULIW ]XYHU|IIHQWOLFKHQ6FKRQ LQGHQQlFKVWHQ
0RQDWHQ VROOHQ lOWHUH $XVJDEHQ GHU 'D) %UFNH RQOLQH HUVFKH L
QHQ

$EVFKOLHHQG EHIDVVWH PDQ VLFK PLW GHU $XIJDEH HLQ /RJR IU
'H/L/$ ]X HQWZHUIHQ 0DQ ZDU VLFK HLQLJ G DVV GLHVHV YRQ SU R
IHVVLRQHOOHU +DQG JHVWDOWHW ZHUGHQ VROOWH 'HU 'HVLJQHU YRQ
)$/(02 ZLUG KLHU]X YRQ *HRUJ 'LHWULFK *RHWKH ,QVWLWXW 6mR
3DXOR EHDXIWUDJWZHUGHQ
'LH YLHUWH $UEHLWVJHPHLQVFKDIW VFKOLHOLFK EHIDVVWH VLFK PLW GHQ
7KHPHQ 6SUDFKSROLWLN :HU EXQJ .RQWDNW ]X ,QVWLWXWLRQHQ +LHU
ZXUGH EHU 6WLSHQGLHQP|JOLFKNHLWHQ LQ gVWHUUHLFK XQG LQ GHU
6FKZHL] EHULFKWHW $OOH 9HUEDQGVYHUWUHWHU QRWLHUWHQ IU LKUH 0L W
JOLHGHU DNWXHOOVWH ,QIRUPDWLRQHQ $XHUGHP LVW GLH (LQULFKWXQJ
HLQHU (*UXSSH 6SUDFKSROLWLN HL QHV 'LVNXVVLRQVIRUXPV LP ,QWH U
QHW JHSODQW ZR EHU GLH RELJHQ 7KHPHQ ZHLWHU GLVNXWLHUW XQG
,QIRUPDWLRQHQDXVJHWDXVFKWZHUGHQN|QQHQ
=XP $EVFKOXVV GHV 6HPLQDUV EHGDQNWH VLFK GHU 9HUWUHWHU GHV
,'90DUFR$XUHOLR6FKDXPORHIIHOEHLDOOHQ$QZHVHQGHQ(UKRE
GLH $QZHVHQKHLW GHV 'HXWVFKOHKUHUYHUEDQGV 3DUDJXD\V KHUYRU
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

GHU LQ QDKHU =XNXQIW DXFK 0LWJOLHG LP ,'9 ZHUGHQ P|FKWH XQG
OREWH GLH DXV GHU 3HUVSHNWLYH GHV ,'9 EHLVSLHOKDIW LQWHQVLYH = X
VDPPHQDUEHLWLQGHU5HJLRQ

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

,,,,17(51$7,21$/('(876&+2/<03,$'(
%5$629.52167$'7  0$,

7KHPD0LWHLQDQGHUOHEHQLQ(XURSD

%(5,&+7
YRQ,GD$OH[DQGUHVFX
9RUVLW]HQGHGHVUXPlQLVFKHQ'HXWVFKOHKUHUYHUEDQGV

,Q 6LHEHQEUJHQ DP )XH GHV %XFHJL *HELUJHV IDQG LQ GHU PL W
WHODOWHUOLFKHQ 6WDGW .URQVWDGW%UDVRY GLH ,,, ,QWHUQDWLRQDOH 2O\ P
SLDGHIU'HXWVFKDOV)UHPGVSUDFKHVWDWW(VEHWHLOLJWHQVLFK- X
JHQGOLFKH PLW LKUHQ /HKUHUQ DXV $UPHQLHQ %XOJDULHQ (VWODQG
-XJRVODZLHQ.URDWLHQ/HWWODQG/LWDXHQ0DNHGRQLHQ1LHGHUOD Q
GH 6ORZDNHL 6ORZHQLHQ 5XPlQLHQ 7KDLODQG 8NUDLQH XQG 8 Q
JDUQ
'LH,,,,'2IDQGXQWHUGHU6FKLUPKHUUVFKDIWGHV,'9XQGPLW+LOIH
GHU JUR]JLJHQ ILQDQ]LHOOHQ 8QWHUVWW]XQJ GHV UXPlQLVFKHQ
0LQLVWHULXPVIU8QWHUULFKWXQG)RUVFKXQJVWDWW'LH2UJDQLVDWLRQ
XQG/RJLVWLNZXUGHYRP'HXWVFKOHKUHUYHUEDQG5XPlQLHQVEH U
QRPPHQ

-XJHQGOLFKH QDKPHQ VRZRKO DP (LQ]HOZHWWEHZHUE DOV DXFK DP


*UXSSHQZHWWEHZHUE WHLO 'DV 2UJDQLVDWLRQVNRPLWHH JDE GHQ
6FKOHUQ GLH 0|JOLFKNHLW VLFK LKUHQ .HQQWQLVVHQ HQWVSUHFKHQG
.DWHJRULH $  HWZD  6WXQGHQ 'D) .DWHJRULH %  ELV 
6WXQGHQ 'D) .DWHJRULH &  EHU  6WXQGHQ 'D)  HLQ] X
VFKUHLEHQ
'LHVFKULIWOLFKH3UIXQJJOLHGHUWHVLFKLQ7HLOH]XIROJHQGHQ% H
UHLFKHQ /HVHYHUVWHKHQ XQG 7H[WJUDPPDWLN +|UYHUVWHKHQ XQG
VFKULIWOLFKHU$XVGUXFN GLHDOOHPLWGHU+|FKVWSXQNW]DKOEHQRWHW
ZXUGHQ6LH YHUVXFKWHQGHQGUHL*WHNULWHULHQEHL (UVWHOOXQJYRQ
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

3UIXQJVDXIJDEHQ 9DOLGLWlW5HOLDELOLWlWXQG2EMHNWLYLWlW LQK|FKVW


P|JOLFKHP0D]XHQWVSUHFKHQXQGKDWWHQGHQNRPPXQLNDWLYHQ
8QWHUULFKWDOV$ XVJDQJVSXQNW)UGLHPQGOLFKH .RPPXQLNDWLRQ
ZDU NHLQH JHVRQGHUWH 3UIXQJHQ YRUJHVHKHQ 6LH ZDU DEHU V R
ZRKO LP *UXSSHQZHWWEHZHUE ZLH LQ GHU /lQGHUSUlVHQWDWLRQ YR U
KDQGHQ

)U GHQ *UXSSHQZHWWEHZHUE NRQVWLWXLHUWHQ VLFK  *UXSSHQ PLW


LQWHUQDWLRQDOHU =XVDPPH QVHW]XQJ XQG ]XJOHLFK 7HLOQHKPHUQ DXV
GHQGUHL6SUDFKQLYHDXV $%XQG& ,KUH$XIJDEHEHVWDQGGDULQ
HLQ 3URMHNW ]XP 7KHPD GHU 2O\PSLDGH 0LWHLQDQGHU LQ )ULHGHQ
OHEHQ ]X HUVWHOOHQ LQGHP VLH LKUH (UIDKUXQJHQ XQG 5HFKHUFKHQ
DXV GHQ ([NXUVLRQHQ LQ GLH YHUVFK LHGHQHQ 2UWVFKDIWHQ 6LHEH Q
EUJHQV GDULQ HLQIOLHHQ OLHHQ 6LHEHQEUJHQ 7UDQVV\OYDQLHQ 
LVW GDIU EHNDQQW GDVV HV KLHU VHLW -DKUKXQGHUWHQ HLQ IULHGOLFKHV
=XVDPPHQOHEHQYHUVFKLHGHQHU1DWLRQHQJDE
$Q GHQ $EHQGHQ NRQQWHQ GLH 7HLOQHKPHU LKUH /lQGHU PLW 'LDV 
9LGHRV /LHGHUQ .RVWPHQ 7lQ]HQ 6FKPDXV XQG 7UDQN LKUHQ
.ROOHJHQXQGGHQ/HKUNUlIWHQQlKHUEULQJHQ1XUGXUFKEHVVHUHV
.HQQHQOHUQHQ N|QQHQ .OLVFKHHYRUVWHOOXQJHQ UHODWLYLHUW RGHU D E
JHEDXWZHUGHQ
'LH(UJHEQLVVHGHV(LQ]HOZHWWEHZHUEVVLQGIROJHQGH
.DWHJRULH$
 %DUD1RpPL
 .RSUHN,YDQ
 0LQMDULN5DGRPLU
 ,UL.DWMD
 3DYL'DQLHO
 .DQLDM3HWUD
 /DNDWRV$XURUD
 9XMLQ'HMDQ
 5HWNR-HUQHM

5XPlQLHQ
.URDWLHQ
6ORZDNHL
6ORZHQLHQ
.URDWLHQ
.URDWLHQ
5XPlQLHQ
6HUELHQ
6ORZHQLHQ

,3UHLV
,,3UHLV
,,,3UHLV
,,,3UHLV
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

.DWHJRULH%
 UQHF'DQLHOD
 9XNRYL0LUMDQD
 3DOO3HWHU3DO
 3HUHSHFKNLQD/MXGP\OD
 /HYDL0RQLND
 -XULFD.DWLFLN
 &VHUJ|.DWDOLQ
 %ROOD.DUROLQD
 +RUREH]$QGULM
.DWHJRULH&
 6WDQFLX0DULOHQD
 /HQDUG$QGUHL
 'REURYROVND0DULMD
 9DPDQ&ULVWLDQ
 %DLED%DXPDQH
 ,YDQRY&KULVWLDQ
 <RUGDQRYD%R\ND
 *HYRUNMDQ$UDNVLD

6ORZHQLHQ
6HUELHQ
5XPlQLHQ
8NUDLQH
.URDWLHQ
0DNHGRQLHQ
5XPlQLHQ
8QJDUQ
8NUDLQH
5XPlQLHQ
5XPlQLHQ
/HWWODQG
5XPlQLHQ
/HWWODQG
%XOJDULHQ
%XOJDULHQ
(VWODQG

,3UHLV
,3UHLV
,,3UHLV
,,,3UHLV
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ
,3UHLV
,,3UHLV
,,,3UHLV
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ
%HORELJXQJ

'LH  3URMHNWDUEHLWHQ GHV *UXSSHQZHWWEHZHUEV HUIUHXWHQ VLFK


JURHQ (UIROJV 'LH 3URMHNWH GLH GLH PHLVWHQ 3XQNWH YRP 3XEO L
NXP HUKLHOWHQ ZXUGHQ PLW HLQHP 3UHLV DXVJH]HLFKQHW 'RFK GLH
JHPHLQVDPH(UIDKUXQJGHU6FKOHULP0LWHLQDQGHULPJHJHQVH L
WLJHQ $XVWDXVFK DOOHV LQ GHXWVFKHU 6SUDFKH LVW GHU VFK|QVWH
*HZLQQGHU9HUDQVWDOWXQJXQG GHUHLJHQWOLFKH6LQQHLQHVVROFKHQ
7UHIIHQV'D]XWUXJHQDXFKGLH2VWHU]HLWPLWGHUXQYHUJHVVOLFKHQ
RUWKRGR[HQ 2VWHUQDFKW PLW LKUHQ %UlXFKHQ XQG 6LWWHQ RGHU GDV
3DVVLRQVVSLHO LQ 0LHUFXUHD &LXF QLFKW XQHUKHEOLFK EHL .LUFKHQ
XQG%XUJHQ/DQGXQG/HXWH%HUJHXQG6HHQ:LQGXQG :HWWHU
ZDUHQDXIXQVHU HU6HLWH
'LH(UJHEQLVVHGHU3URMHNWDUEHLWHQVLQGIROJHQGH
,3UHLV
*UXSSH

+HHWYHOG
,YDQRY
.LURYDNRY
&XWXUHOD

-LEEH
&KULVWLDQ
*RUJL
'LDQD

1LHGHUODQGH /HKUHU
%XOJDULHQ
0DNHGRQLHQ
5XPlQLHQ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

(LQ0lUFKHQ
.RSIYV
$UVFK

/HQDUG
NRUMDQF
9LWLWYLUL\DNXO
*UyV]

,,3UHLV
*UXSSH
7UDXULJH
.ULHJV
JHVFKLFKWHQ

,M\DQ
/LHVNRYVND
&VHUJ|
6WDQFLX
9XMLQ
3DYL
UQHF
%HUHV
.ODYLQD

,,,3UHLV
*UXSSH
)ULHGHQ

6DUJV\DQ
/DQJ
6WDVXODQH
3ULQV
%HMX
0LQMDULN
%HOMD
/DQJ

$QGUHL
6DELQD
1DWDULQ
%pOD

$]DWXKL
,YHWD
.DWDOLQ
0DULOHQD
'HMDQ
'DQLMHO
'DQLHOD
%ULJLWWD
0DULWH
1DULQH
/LOL
.ULVWLQH
-HOPHU
$QDEHOD
5DGRPLU
,YDQ
3pWHU

5XPlQLHQ
6ORZHQLHQ
7KDLODQG
8QJDUQ

$UPHQLHQ /HKUHU
6ORZDNHL /HKUHU
5XPlQLHQ
5XPlQLHQ
6HUELHQ
.URDWLHQ
6ORZHQLHQ
8QJDUQ
/HWWODQG
$UPHQLHQ /HKUHU
(VWODQG
/HWWODQG
1LHGHUODQGH
5XPlQLHQ
6ORZDNHL
8NUDLQH
8QJDUQ

/HLGHUNDPHVEHLGHU)OOHGHV3URJUDPPVQLFKW]XHLQHPRUJ D
QLVLHUWHQ5XQGWLVFKJHVSUlFKIUGLHEHJOHLWHQGHQ/HKUNUlIWH

:DVGLH2UJDQLVDWLRQGHU,'2EHWULIIWZ XUGHQVRZRKOGLH%HJOHL W
OHKUHU DOV DXFK GLH 6FKOHU LP +RWHO &LXFDV DXV 3RLDQD %UDVRY
XQWHUJHEUDFKW GLH HUVWHQ LQ (LQEHWW]LPPHUQ XQG GLH ]ZHLWHQ LQ
=ZHLEHWW]LPPHUQ  6LH ZXUGHQ HEHQIDOOV YRP )OXJKDIHQ 2WRSHQL
RGHU YRQ GHQ %DKQK|IHQ %XNDUHVW XQG %UDVRY PLW %XVVHQ XQG
7D[LVDEJHKROWXQGQDFKGHU7DJXQJ]XUFNJHEUDFKW'LH)DKUWHQ
LQQHUKDOE GHV /DQGHV ZXUGHQ DXFK PLW %XVVHQ JHPDFKW 'LH
.RVWHQGLH0LOOLDUGHQ/HLEHWUXJHQZXUGHQYRP8QWHUULFKWVP L
QLVWHULXPXQGZHLWHUHQ6SRQVRUHQJHWUDJHQ
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

:LUEHDEVLFKWLJHQ ([HPSODUH=HLWVFKULIWHQEHUGLH2O\PS L
DGH ]X GUXFNHQ XQG  9LGHRNDVVHWWHQ KHU]XVWHOOHQ (LQ HL Q
VWQGLJHU)LOPZXUGHVFKRQLP)HUQVHKHQSUlVHQWLHUW

 6WlUNXQJ GHV =XVDPPHQJHK|ULJNHLWVJHIKOV DOOHU


GHXWVFKVSUDFKLJHQ/HKUHU
 3IOHJHGHXWVFKSDUDJXD\LVFKHU.XOWXUEH]LHKXQJHQ
 3IOHJH GHU =XVDPPHQDUEHLW PLW DQGHUHQ 9HUElQGHQ
GHXWVFKVSUDFKLJHU/HKUHULP,Q  XQG$XVODQG
 )LQDQ]LHOOH8QWHUVWW]XQJVHLQHU0LWJOLHGHUIU9HUEHVV H
UXQJVLQLWLDWLYHQGHV'HXWVFKXQWHUULFKWV

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

3DUDJXD\

,P-XOLP|FKWHGHU5HJLRQDOYHUEDQG'HXW VFKVSUDFKLJHU
/HKUHU DXV 3DUDJXD\ GHP ,'9 EHLWUHWHQ )ROJHQGHU 9RUVWH O
OXQJVEULHIZXUGHGHP,'99RUVWDQGJHVFKLFNW
'HU 5HJLRQDOYHUEDQG 'HXWVFKVSUDFKLJHU /HKUHU LQ 3DUDJXD\
$VXQFLyQ2VW 3DUDJXD\ VWHOOWVLFKYRU

8QVHU 9HUEDQG VWDPPWH LP -DKU  DO V HLQHQ HLQIDFKHQ


6WDPPWLVFK YRP 'HXWVFKOHKUHU LQ HLQHP &DIp GHU +DXSWVWDGW
$VXQFLRQ
0DQ HUNDQQWH GLH 1RWZHQGLJNHLW HLQHQ 9HUEDQG ]X JUQGHQ XP
GDV =XVDPPHQJHK|ULJNHLWVJHIKO ]ZLVFKHQ DOOHQ GHXWVSUDFKLJHQ
/HKUHU ]X VWlUNHQ +LQ]X NDP GHU %HGDUI GHQ GHXW VSUDFKLJHQ
8QWHUULFKWVRZLHGLH$XV  XQG)RUWELOGXQJGHU/HKUHU]XI|UGHUQ
,P/DXIHGLHVHU-DKUHHUOHEWHGHU9HUEDQGXSDQGGRZQV
:HOFKH=LHOHKDWGHU9HUEDQGKHXWH"
 ,QWHUHVVHQYHUWUHWXQJ ZLUWVFKDIWOLFKH NXOWXUHOOH VR]LDOH
XQG HLQJHVFKUlQNW SHUV |QOLFKH ,QWHUHVVHQ  VHLQHU 0L W
JOLHGHU JHJHQEHU GHQ |UWOLFKHQ 6FKXO  E]Z VRQVWLJHQ
(LQULFKWXQJVOHLWXQJHQ XQG  RGHU GHQ HQWVSUHFKHQGHQ
9RUVWlQGHQ GHQ |UWOLFKHQ bPWHUQ %HK|UGHQ XQG VRQVW L
JHQ(LQULFKWXQJHQJHJHQEHUGHUGHXWVFKHQ=HQWUDOVWHOOH
IU GDV $XVODQGVVFKXOZHVHQ GHU %RWVFKDIW GHU %XQGH V
UHSXEOLN 'HXWVFKODQG XQG DQGHUHQ GHXWVFKHQ 'LHQVWVWH O
OHQ
 )|UGHUXQJ GHV 'HXWVFK  XQG GHXWVFKVSUDFKLJHQ 8QWH U
ULFKWVDQGHQ6FKXOHQXQG VRQVWLJHQ(LQULFKWXQJHQLQ3 D
UDJXD\DQGHQHQ'HXWVFKXQWHUULFKWHWZLUG
 $XV XQG )RUWELOGXQJGHXWVFKVSUDFKLJHU/HKUHU
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

'HUQHXH9RUVWDQGGHUGLHVHV-DKULP-XQLJHZlKOWZXUGH VHW]W
VLFKDOV=LHO










GLHMXULVWLVFKH3HUVRQGHV9HUEDQGHV]XHUUHLFKHQ
0LWJOLHGVFKDIW EHLP ,'9 , QWHUQDWLRQDOHQ 'HXWVFKOHKUHUYH U
EDQG ]XHUUHLFKHQ
.RQWDNWH]XDQGHUHQ9HUElQGHQ]XVFKDIIHQ
)RUWELOGXQJHQDQ]XELHWHQ
0LWJOLHGHU]XYHUVFKLHGHQHQ6HPLQDUHQ]XHQWVHQGHQ
QHXH0LWJOLHGHU]XJHZLQQHQ
'LH5HGDNWLRQGHU'D) %UFNHLP-DKU]XEHUQHKP HQ
'LH:HE 6HLWHGHV9HUEDQGHV]XJHVWDOWHQ
0RQDWOLFKHLQ,QIREODWWIUGLH0LWJOLHGHU]XYHU|IIHQWOLFKHQ

:HUGDUI0LWJOLHGZHUGHQ"

0LWJOLHG GHV 9HUEDQGHV N|QQHQ WlWLJH RGHU HKHPDOLJH 'HXWVFK 


/HKUHU,QQHQ 'HXWVFKOHKUHU 6WXGHQWHQ GLH DQ 6FKXOHQ RGHU DQ
GHUHQ (LQULFKWXQJHQ XQWHUULFKWHQ RGHU VLFK LQ GHU /HKUHUDXVEL O
GXQJ EHILQGHQ VHLQ $QGHUH 0LWJOLHGVFKDIWHQ LQ HLQHP DQGHUHQ
9HUEDQG  ]% /HKUHUYHUEDQG GHU 0HQQRQLWHQ LQ 3DUDJXD\  EOH L
EHQGDYRQXQEHUKUW
$XHUGHP NDQQ MHGH UHFKWVIlKLJH 3HUVRQ GLH VLFK EHUXIOLFK PLW
GHUGHXWVFKHQ6SUDFKHEHIDVVWXQGLKU,QWHUHVVHDQGHU0LWJOLH G
VFKDIWGHV9HUEDQGHV]XP$XVGUXFNWEULQJW0LWJOLHGZHUGHQ
:HULVWKHXWH0LWJOLHG"

0LWJOLHGHU KHXWH VLQG /HKUHU GHV 'HXWVFK 3DUDJXD\LVFKHV .XOW L


ULQVWLWXW ,&3$ *RHWKH6FKXOH $VXQFLyQ$OEHUW6FKZHLW]HU6FK X

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

OH ,QVWLWXWR 6XSHULRU GH /HQJXDV ,6/  6FKXOHQ LP ,QODQG DQ
GHQHQ'HXWVFKXQWHUULFKWHWZHUGHQXQG3ULYDWOHKUHU
:LHKRFKLVWGHU%HLWUDJ"

'HU%HLWUDJEHWUlJW*V HQWVSULFKW86 SUR-DKU


:HUOHUQW'HXWVFKLQ 3DUDJXD\"

6FKOHU DXV 7UDGLWLRQ .LQGHU GHXWVFKH $EVWDPPXQJ (UZDFKV H


QHXQG-XJHQGOLFKHDXV$UEHLWV  XQG6WXGLHQJUQGHQ6\PSDWKLH
]XGHXWVSUDFKLJHQ/lQGHUXQG]XGHUGHXWVFKHQ6SUDFKH
.RQWDNWDGUHVVH

(0DLO59'/#ULHGHUQHWS\

6LW]GHV59'/,QVWLWXWR&XOWXUDO3DUDJXD\R $OHPiQ ,&3$


-XDQGH6DOD]DUF$UWLJDV
$VXQFLyQ3DUDJXD\7HO)D[RR 

:LU KRIIHQ DXI HLQH JXWH =XVDPPHQDUEHLW XQG JUHQ 6LH KHU]
OLFK
'HU9RUVWDQG

/HWLFLD0DUTXL]R 9RUV LW]HQGH 


&DUROLQH6FKPLGW 9RUVLW]HQGH
%HOLQGD*DUFtD 6FKDW]PHLVWHULQ
&ODXGLD2UWL]GH7XPD 6FKULIWIKUHULQ
5RGROIR7URFKH 9HUWUHWHULP,QODQG

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

5(=(16,21(1
-$+5%8&+ '(876&+ $/6 )5(0'635$&+( ,QWHUFXOWXUDO
6WXGLHV %DQG  KUVJ Y $ORLV:LHUODFKHU XQG 'L HWULFK (JJHUV
.RQUDG (KOLFK 8OULFK (QJHO $QGUHDV ) .HOOHWDW +DQV -UJHQ
.UXPP :LOO\ 0LFKHO .XUW )ULHGULFK %RKUHU ,XGLFLXP 9HUODJ
0QFKHQ
%HVSUHFKXQJYRQ'U0RXUDG%HQ$EGHUD]DN7XQLV7XQHVLHQ

'HU UHFKW XPIDQJUHLFKH  %DQG GHV -DKUEXF KV 'HXWVFK DOV
)UHPGVSUDFKH XPIDVVW JDQ]H  6HLWHQ XQG HQWKlOW HLQH )OOH
YRQ %HLWUlJHQ ]X YHUVFKLHGHQHQ 7KHPHQ GHV %HUHLFKV 'HXWVFK
DOV)UHPGVSUDFKHE]Z*HUPDQLVWLN
'DV%XFKJOLHGHUWVLFKLQIROJHQGH+DXSWWHLOH
 HLQ 9RUZRUW XQG (GLWRULDO DXV $QO DVV GHV *HEXUWVWDJV
GHV-DKUEXFKV
 HLQHQDOOJHPHLQHQ7HLO
 HLQHQWKHPDWLVFKHQ7HLO
 HLQ)RUXP
 %HULFKWH
 HLQH'RNXPHQWDWLRQ
 5H]HQVLRQHQXQG
 HLQHhEHUVLFKWEHUGLH%lQGHGHV-DKUEXFKV'HXWVFKDOV
)UHPGVSUDFKHYRQELV DhEH UVLFKWEHUGLHWKHP D
WLVFKHQ7HLOHGHU%lQGHE$OSKDEHWLVFKHV9HU]HLFKQLVGHU$XW R
U,QQHQGHU%lQGHPLWGHQ7LWHOQLKUHU%HLWUlJH 
,P 9RUZRUW ]XP YRUOLHJHQGHQ %DQG ]LHKW $ORLV :LHUODFKHU HLQH
HKHU SRVLWLYH %LODQ] DXV GHP IQIXQG]ZDQ]LJMlKULJHQ %HVWHKHQ
GLHVHU ZLVVHQVFKDIWOLFK DQVSUXFKVYROOHQ YRQ QDPKDIWHQ )R U
VFKHQGHQ XQG /HKUHQGHQ LP %HUHLFK 'HXWVFK DOV )UHPGVSUDFKH
E]Z,QODQGV$XVODQGVJHUPDQLVWLNDQJHIHUWLJWHQ3URGXNWLRQ
'DEHLZLUGLQVEHVRQGHUHKHUYRUJHKREHQGDVVGDV-DKUHDOWH
-DKUEXFK'HXWVFKDOV)UHPGVSUDFKHVHLQHQ$QVSUXFKXQGVHLQH
=LHOVHW]XQJHLQJHO|VWXQGVHLQZLVVHQVFKDIWOLFKHV1LYHDXEHUHLQ
9LHUWHOMDKUKXQGHUWKLQZHJNRQVWDQWJHKDOWHQKDW 6
0LWGHPKLHUDEJHGUXFNWHQDOV'RNXPHQWEH]HLFKQHWHQ9RUZRUW
]XP  HUVFKLHQHQHQ  %DQG ZLUG GLH NODUH $EVLFKW GHV
(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

-DKUEXFKVZLHGHULQV*HGlFKWQLV]XUFNJHUXIHQHVJLQJHGDUXP
GLH MDKU]HKQWHODQJH )UDJPHQWLHUXQJ GHV $UEHLWVEHUHLFKV
'HXWVFK DOV )UHPGVSUDFKH LQ GHU %XQGHVUHSXEOLN 'HXWVFKODQG
EHUEUFNHQ]XKHOIHQXQG]XJOHLFKGHQLQ WHUQDWLRQDOHQXQGVDF K
OLFKXPIDVVHQGHQ+RUL]RQWGLHVHV/HKU  XQG)RUVFKXQJVJHELHWHV
DQJHPHVVHQ]XEHUFNVLFKWLJHQ 6
*HUDGHGLHVHULQWHUQDWLRQDOHXQGVDFKOLFKXPIDVVHQGH+RUL]RQW
GHV)DFKHV'HXWVFK DOV)UHPGVSUDFKHZLUGLP(GLWRULDO DXV $ Q
ODVV GHV *HEXUWVWDJV GHV -DKUEXFKV YRQ GHQ +HUDXVJHEHUQ
ZLHGHUKROWEHWRQW$XI*UXQGGHU9LHOIDOWGHU)DFKNRQ]HSWLRQHQLQ
GHU JOREDOHQ JHUPDQLVWLVFKHQ :LVVHQVFKDIW YHUVWHKH VLFK GDV
-DKUEXFK DOV HLQ 3HULRGLNXP  GDV DXFK GHQ ZHOWZHLW XQWH U
VFKLHGOLFKHQ)DFK NRQWH[WHQJHEKUHQGH$XIPHUNVDPNHLWVFKHQNW
XQGVLFK ]XJOHLFKJHJHQ0RQRSROLVLHUXQJHQVLQJXOlUHU)DF K
WKHRULHQ ZHQGHW 6  'DKHU VROOWH PLW 5HFKW VRZRKO GLH
JHUPDQLVWLVFKH )UHPGVSUDFKHQSKLORORJLH GHU QLFKWGHXWVFKVSU D
FKLJHQ /lQGHU DOV DXFK GDV ) DFK 'HXWVFK DOV )UHPGVSUDFKH LQ
'HXWVFKODQG DOV PHKUGLPHQVLRQDOH XQG LQWHUGLV]LSOLQlUH )lFKHU
JHI|UGHUW ZHUGHQ 6I  6RPLW ZHUGH GDV =LHO YHUIROJW ]XU h
EHUZLQGXQJ HLQHV )DFKYHUVWlQGQLVVHV EHL]XWUDJHQ GDV DX V
VFKOLHOLFK GLH *UXQGVSUDFKHQJHUPDQLVWL N ]XP 0DVWDE VHLQHV
IDFKNRQ]HSWLRQHOOHQ +DQGHOQV PDFKH 6  $XFK VROOWH GLH
%HVFKUlQNXQJGHV)DFKHV*HUPDQLVWLNE]Z'HXWVFKDOV)UHP G
VSUDFKH DXI GLH .RPSRQHQWHQ 6SUDFKZLVVHQVFKDIW XQG /LWHU D
WXUZLVVHQVFKDIW HQGOLFK HLQPDO DXIJHJHEHQ ZHUGHQ $QGHUH
1DFKEDUGLV]LSOLQHQ ZLH $QWKURSRORJLH *HVFKLFKWH 3KLORVRSKLH
LQWHUNXOWXUHOOH :LUWVFKDIWVNRPPXQLNDWLRQ XQG WUDQVGLV]LSOLQlUH
)UDJHQ ZLH %LOGXQJV]LHOH ,QWHUNXOWXUDOLWlW XQG 0HGLHQZHOW VROOWHQ
HEHQIDOOVEHUFNVLFKWLJWZHUGHQGDPLWGLHNRQ]HSWLRQHOOH9LH OIDOW
6  XQG GLH :HOWRIIHQKHLW 6  GHV )DFKHV 'HXWVFK DOV
)UHPGVSUDFKHJHZlKUOHLVWHWZHUGHQ

HLQHU %RUQLHUXQJ ]X XQWHU ZHUIHQ 6   (U ZLUIW GHQ VHLQHU
6FKlW]XQJ  GHU 3URIHVVRUHQ YRU GDVV VLH QRFK ]X VHKU
JUHQ]EHZXVVWGKDXIHLQHPVSH]LDOLVLHUWHQ*HELHWHQWZHGHUGHU
GHXWVFKHQ6SUDFKHRGHUGHUGHXWVFKHQ/LWHUDWXUDUEHLWHQ LELG 
ZREHLGRFK6SUDFKH XQG /LWHUDW XUGLH,QVWUXPHQWH ]XU(UVFKOL H
XQJ XQG ,QWHUSUHWDWLRQ GHU :LUNOLFKNHLW  VLQG   LQ  YLHOH IDVW
P|FKWHPDQVDJHQLQDOOH /HEHQVJHELHWH KLQHLQUHLFKHQ LELG 
%DXVLQJHU XQWHUVWUHLFKW QDFKGUFNOLFK GLH 7DWVDFKH GDVV PDQ
VLFK QLFKW DOOHLQ DXI GHQ 7H [W NRQ]HQWULHUHQ VROO $XFK GHP .R Q
WH[WPVVWHGDEHL5HFKQXQJJHWUDJHQZHUGHQXQGGLHVLVWLPPHU
NXOWXUHOOHU .RQWH[W 6  'HU $XWRU PHLQW GDKHU XQ]ZHLGHXWLJ
'DVHLJHQWOLFKH5HIHUHQ]V\VWHPLVWQLFKWPHKU6SUDFKHXQG/LW H
UDWXU VRQGHUQ GLH .XOWXU 6   %DXVLQJHU VHW]W VLFK GDQQ PLW
GHP%HJULII.XOWXUHLQJHKHQGDXVHLQDQGHUXQGVLHKWLP8PJDQJ
GDPLWDOOHUGLQJVJHZLVVH6FKZLHULJNHLWHQ LELG
'DEHL XQWHUVFKHLGHW HU ]ZLVFKHQ $OWODVWHQ XQG QHXHUGLQJV HQ W
VWDQGHQHQ3UREOHPHQ

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

'LHVH P ( VLQQYROOH *UXQGHLQVWHOOXQJ GLH HLQH ZHVHQWOLFKH ( U


ZHLWHUXQJ GHU %HWUDFKWHQVZHLVH HUP|JOLFKW ZLUG YRQ +HUPDQQ
%DXVLQJHU QLFKW QXU EHIUZRUW HW VRQGHUQ DXFK PLW 1DFKGUXFN
XQWHUVWW]W
,QVHLQHP%HLWUDJXQWHUGHP7LWHO'DFDSR*HUPDQLVWLNDOV.X O
WXUZLVVHQVFKDIW 6   ZHKUW VLFK GHU $XWRU YHKHPHQW G D
JHJHQ GLH DOV .XOWXUZLVVHQVFKDIW ]X YHUVWHKHQGH *HUPDQLVWLN

=X GHQ $OWODVWHQ ]lKOW ]XQlFKVW GDV 6HOEVWYHUVWlQGQLV GHU .X O


WXU GLH VHLQHU $QVLFKW QDFK QRFK ]X HQJ XQG RIW HOLWlU VHL 'LH
*HUPDQLVWLN VROOH DEHU .XOWXU XPIDVVHQGHU EHWUDFKWHQ 6LH VHL
QLFKW QXU ZDV *RHWKH JHVFKULHEHQ XQG %HHWKRYHQ NRPSRQLHUW
KDEHQ VRQGHUQ DXFK ZDV XQG ZLH ZLU HVVHQ ZHOFKH )HVWH ZLU
IHLHUQ LQ ZHOFKHP 0RELOLDU XQG LQ ZHOFKHQ :RKQXQJHQ ZLU O H
EHQ 6
'LH ]ZHLWH $OWODVW VLHKW %DXVLQJHU LQ GHP QRFK EHVWHKHQGHQ 
*HJHQVDW] ]ZLVFKHQ .XOWXU XQG =LYLOLVDWLRQ 'D]X PHLQW HU
=LYLOLVDWLRQ LVW GDV bXHUOLFKH GD]X JHK|UHQ GLH 7HFKQLN GLH
1DWXUZLVVHQVFKDIWHQ  GDV 5HFKWVV\VWHP XQG GLH SROLWLVFKHQ
6WUXNWXUHQ.XOWXULVWGHPJHJHQEHUGDV,QQHUOLFKHGDV*HLVWLJH
6I
'LHGULWWH$OWODVWEHVWQGHLQGHUQRFKVWUHQJHQ$XIIDVVXQJGHV
.XOWXUEHJULIIVZRQDFK .XOWXURIWHLQ5HVHUYRLU YRQ YRUKDQGHQHQ
.XOWXUJWHUQ DQJHVHKHQ ZHUGH GLH DXI GLH $XIIKUXQJ DXI HLQ
3XEOLNXPDXI%HVLFKWLJXQJZDUWHQZUGHQ'LH.XOWXUDOVDNWLYHU
3UR]HVVDOVHWZDVZDVLPPHUQHXKHUJHVWHOOWXQGDXFKYHUl Q
GHUW ZLUG ZHUGH KLQJHJHQ QLFKW JHEKUHQG EHUFNVLFKWLJW
6

8QWHU GHQ QHXHUGLQJV HQWVWDQGHQHQ 3UREOHPHQ VLHKW +HUPDQQ


%DXVLQJHUHLQHXQJHKHXUH,QIODWLRQGHV.XOWXUEHJULIIVE]ZHLQHQ
.XOWXUDOLVPXV ZR GDV 6R]LDOH MHGRFK LPPHU ZHQLJHU EHDFKWHW
ZHUGH 6I
'DV ]ZHLWH 3UREOHP EHVWQGH GDULQ GHQ %HJULII .XOWXU RIW LP
6LQJXODU ]X JHEUDXFKHQ ZlKUHQG HV LQ :LUNOLFKNHLW LPPHU XP
.XOWXUHQJHKW XPNXOWXUHOOH.RPSOH[LWlW 6
'LH ,QIODWLRQ  GHU NXOWXUHOOHQ (YHQWV VWHOOW IU GHQ $XW RU HLQ
GULWWHV3UREOHPGDU(UPHLQWKLHU]X GDVVQHXHUGLQJV9LHOHVDOV
.XOWXU EH]HLFKQHW ZLUG 6  XQG QHQQW PHKUHUH %HLVSLHOH
GDUXQWHU7DONVKRZVEHU6LQJOHVXQG9HJHWDULHU 6 .XOWXU
SUlVHQWLHUH VLFK LQ GLHVHU :HLVH ZLH HLQ JURHU NDXP PH KU 
EHUVFKDXEDUHU6XSHUPDUNWPLWYHUVFKLHGHQHQ(WDJHQ LELG
(LQ YLHUWHV 3UREOHP VLHKW %DXVLQJHU VFKOLHOLFK LQ GHU *HIDKU LQ
GHQ'LOHWWDQWLVPXVKLQEHUJHIKUW]XZHUGHQ 6I
'LH YLHOHQ DQGHUHQ %HLWUlJH GLH GHU  %DQG GHV -DKUEXFKV
'HXWVFK DOV)UHPGVSUDFKHHQWKlOWVLQGVLFKHUOLFKQLFKWZHQLJHU
LQKDOWVUHLFK XQG ZLVVHQVFKDIWOLFK ZHUWYROO DOV GLH YRQ PLU HEHQ
NRPPHQWLHUWHQ 6LH VLQG HEHQVR HLQH XQYHUVLHJEDUH 4XHOOH DXV
GHU MHGHU *HUPDQLVW E]Z 'D) /HKUHU YLHO:LVVHQVZHUWHV VFK| S
IHQNDQQ

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB

&XULWLED %UDVLOLHQ 'H]HPEHU


0DUFR$XUHOLR6FKDXPORHIIHO
6FKULIWOHLWHUGHV,'9
+HUDXVJHEHUGHV(5XQGEULHIV

(581'%5,()'(6,'9 1U  'H]HPEHU  6HLWH

You might also like