Download as pdf or txt
Download as pdf or txt
You are on page 1of 46

ViBEK /AOJKIW3 bVbEK 2EK1E2

IHE YIIVOE OE EIXED


EXCHVW3E V1E2

wriucc opaiq
KCUUCtP jçoojj

JOLJCJU bcL 140 2JÔJ

ivnowir BflBEVfl OI ECOMOIIC JE2EVKCH


1020 CpI12CU2 VACIJnC
c"p'q iw on
iniA Thà2

fiQ tJJUJC V!" 2WIJJCA }ICJ1GL JC1IAGU oiicic 19CIJLq AJI2tOU1 Vll' JC1tL
LCGLC 2JJqU JP4CC JçopwJJc jpoum LCU1 FMLCIJCC 2IJWWC!2 b! AOICJCCV uq
4OU1J9U 1CIJtC!U 0L pcjb uq 2fl C2t!01J2 j)UJOIIJX JXJ0L OCLCc1 AJ1WpJC 9uq CXtCU!AC
qACC 011 CLJ!CL qc Q11U #4C VPIJe BL!IJ DoA!Ce 1'1uJ' i0 uq O!011m OJIACI
bLoAiqcq CXbGLt LCCLC 222WIJC UIJCJ flbboLL L0W iJJC U1qJCX J0I1Uq0U IJJC CCIUCL
OL QUJJU uq EflL0bCU LJJG flUjACI2JtA 0j C1!OLUI1 BCLJCG1CA uq tpc jpouj
2c!cucG jonuqtou LtcnJJA cJuoicqcq vu c9LJ!CL Ac12!ou o b9bL bI.c2Gutcq
t tp C01JCLCUCC ,JqOI1CWLA bOJICA !' CJJTnJU JUUCIVJ EUAL01JUJCUt,. jicjq LCJJ -4 1ÔÔ2
nuqL bouaopb O tJJ CCUtL 0L ECOUOW!C bOJICA jccicp 9 wuoLq flUACLtA uq ipc
cqct KCLAG UC 0J IJ h1JC!C0 JJJ2 bvbcL e bi.t o J4BEL icm.cp bLouJ2 !u
PJtQLU1t0UJ E!IJUCG uq N1CL0CCOU0UJ1C' uq J0UC1VLA couounc quA ob!u!ou cxbLccq
LC tpO O tJJC fltjJ0!2 ffuq UOt tJIO2C 0 tJIC WtJOUVJ BflLIT 0 ECOUOUJIC IC2CLCW

© 1ÔÔ2 pA ypincc uq KCUUtP ooj vjj LIJ1t2 LccLAq 2POLt 2GCt!01J2 oj tcct
uot to cxccq tMo bI.1bp2 urnA pc dnotcq iitponi cbJc!t bcuii1ou bLoAqcq ipt njj
CLcqua uCJflqU © UOtCC !1J to IIJC 2OflLCC
J4BEB 1O4J JÔJ

LllE I'HKVOE OL HXED


EXCHVI4OE IVJE2

VBaLKVCJJ

jp bbcL qcn Ipc bLoorwq Cflj1C2 o irnquwrnu pccq cxcpuc uu


MOLJ o buqu jopij cbwj umqcci o bobnpa iIiqow uqnJscq-conuu.X
woucQ npo!.c cijA jrnic lpc comxc io qquq cxcpuc bmitc iucrnjj) uA
buAc bCCflpflAC WCF Brn !1. 1V Cot 11ThP.IIU t° ' W° LC2O(ITC2 jCJ C11!P!I! "up
urnqcci pc co o pc LOCL ccouowX o qqcuqn u cxcp1uc-I3Ic bc cu pc AcL) pjr
jpc qXuuic !ucthJA pcwccu CLCqp1pA iuq cowuipncu z ijjntq p) qic
Jq B41!2P CI4 uuq 111C J9- C)CICIJ COflth2C jc jo qcn qJc wijj unwpci o,
flCCG2flj UXC12

Nrn4c pcjq KCWJCIP Joo


cbi.jwcu o EcoIJounc OOqLO1i JIJaOIJ 2CPOOJ
flUIACL& O CThOLIJ BWICA jucc1ou flcI2A
BC4CC!C CV ô'tO bUUCCIOU Ml O844
IJq ]4 Jq I4BEI
r juoqncou
MPGU WG boeç-L 2?2çGm o pc€q GXCUG Lç62 coJJb2Gq l €LJ?. 2GA6Uç1G2
GM corrjq JmUG p0li A0JcJJG C(TLLGUC). AJJ1G2 lioffJq pG 1J GU2111IJ jociu-
LBçG GLW EGRGL 2çJJJ uçicibç€q poli. qJcITJc !1 offJq G qJAHJG gu?. 2?2fGUJ1C
COuuGCc!0u GGGU GXCJJIJG LG UJ0AGIJJG1J42 mq mJqGLJAu CJJJJ62 117 GCOJJOIJJ!C
yTuqfuJGuc9J& GAGU uç !LJ?. J0U V0L0U8 fl4J6 .MOUqGL cpç 20
02GLAGL2 JJAG CJjGq oL bo11c162 LG2OLG puJJç2 ou GXCUG LG Jricçflçou2
c'w' GU1G 0 oçiiJ GXCJJIJG LçG2 pCJ( 1IJ40 1ç2 poççj€ 12 JJ0tAGAGL
G2!GL 2iq JJJJ qOuG j,u? LGCG1J Gj0L2 bG xcprus LcG2 iiiçpiu uLLotA
L17G2 JJAG suq€q 117 8bGccBcrrJL q6pcJG flIG puj oj
40 JJAG IJJOLG 2 p1J1lo Cb!c1 J022 cp! GM J3011L2 1J 2 A1J
bLGAGuç çJJG iu GbçGLJJpGL J3 yUA Oç}JGL
EnL0bGu CGUçLJ puje 211GLGq 2!UJ!JL yç€e 117 j5- juqGGq OUCG bLonq
EffL0BGU y\J0IJGcL?. 2?2cGm (E/\j) }J2 IJOIA GGIJ oLcGq L€LGØ GXCJJUG
L€ puqe j b€ CGJJ tiJq6 (J2 bGLc€uç ouq CGUfL LcG) 2?keçGuJ pLGJ?.
qi2çJurrJ2ppjG pom joçiiJ 0L A6 qGAGJ0biu conuçLJG2 onuq Jç G21GL
b€ GXCJJJG LG8 117 4JJG JJ1IJG41G2 jGXJC0 0L GXWbJG eb€uç P1JJ!°17 !'
LG2GLAG2 uq pOLLO1A€q 2 pijjiou UJOLG q€GrJq cpG bo qoJJL b IU
iç 21TjGLG 13G J02262 JAJJGU b€o coJJb2Gq ?GL Guq JJJG2G GAGIJ2 LG uoç
nubLGcGqGuçGq pnç pLocJc?. uq 2cobG }JwG cjj€q iuço dnG2çiou AJp!JJçA
o jx€q uJou 2oAGLG.u uçiou2 117 o pipj?. qGAGJobGq jopj

Ju cpi2 bb E.G fIG pç OL moeç comJçLiG2 iç 12 ojj?


7EOL 2IGWG1J42 01 pG LflI1JIJc 4JJ xcq CXC}J1J6 LG 1IJJJGL6JJJ? zijG uoq8?
(iaiY op;iq uq icuaou (j')
J02 IJU0CGJJC€ 0 jx€q €XCJJIJG LfçG2 2 JJITUJGL 0 GX1JJbJG2 2JJOff! pc€q
GXCJJJJG LG 72 A€LX C02çJ? 0L 0AGL1JWGIJ 0 WJ1J4JIJ MJJGLT 1ç2 b1ow1262 uoç
2nqqGuJ?. JCJ cLGqipiJJl* yc cp c!w& uq JJJpJçIJJJ
cL€qpJ JJ2 pGCOUJG iIJCLG2iIJJ?k q!cnJc 1 GLG1TJ GxiJJTUci0U 0
O 2bGCiTJç1AG 2flG22 GAGU pLoq-pLJq 2AçGm2 rn CflLLGU EJ2
2ç?JG bo2G qcfrJcG& uq jwç !e pççj& u? comoLçpJG wiqqj€ onuq
p€c/AG€u L€2 JJq cp€ qobçou p?k cornJ4Li€2 oj couimou cnLL€ucA E-
0L42 40 LGOLIJJ IJJ0IJ€4L? iucicficrOu2 w p€ 21TCCG22 p? ocn2rJJ qiL€cçJ?

017 L€2çLJ1Jç 0 qoLIJG2çJc iUçiou JJJG L€ 12 AJITJ€ JuqJccoL


OL mou€ci bojic prrç wc1u !c CGIJcLJ i b€ujorra
€C4JOIJ 5 pGJOh J onç 20177€ preic couu€cçioue pGçti€Gu moJJ€çL? bojic?. uq
LG {€GL2 RJJJ JJ62G p2iC2 W /1J2}J p€.iU IIJ4JJ

26C 017

Epq GxcpnJG LG2: IPG!L obcL ou CO2 9uq pGUG-

112€ 4JJG €LW2 iY€q 01 GXC}JJIJ€ L€ 0 L66L JJ? 2?2ç€w ! EJJ1cJJ


IJJ0JJ€çLX fIçJJOLi 1J1J0J1IJC€2 pn?JIJ ¶tuq 2GJflU LG2 OL !42 CITLLGUCX IJ 4GL1JJ2
o 0L€iIJ Cf1LL€uC? ruq blom!2€2 rn nuJwiç€q moiurç
JJ}JG pnXii uq €jju Lç€2 corrjq p€ m& pnç LT wo 2?çGm2 p€?. qij€L
CJLCcJm2çuCG 1A62 112€ 0 (rr2rrJJ? uLLoll) puqe iiuçpru iipjcp €i€u
LG2 oIJ OI1L q€uJcJou WUk 1TCçfTG i" bo2ç-iiL LGccoU M°°q
2?çG1JJ qoJJrL GXC}J71JG U1G2 corrjq fiCçui€ p? 1JQ orniq cGuJJ
bcLJçJG 9Vq JOL 1JJ024 EV\12 CJTLLGIJC!62 Gj0LG I1fT2f piJ7cGLJ LG2 corrjq
P 552 OPA!0112J br.€c quuqJu J!' pGç//G€IJ JXGq LçG 117 JJG

5
OLGOIL1 261J2& 2Uq 2 UO2ciIJ OU& 2 JJOç CJG2L Ci14 22 flJG OWCJ2J pII2.IU Uq
2GJJ1IJ L2G2 UJOAG J2LJJGL 2b2Lç GXC}J2LJG-L2cG 2LL2UGWGU 2bbLO2CJJG2 2 L6G
JO2c.
OUG A2L!2f!OU OU pCGq L2G8 JJ24 !2 COJJJIJJOU 21IJOU p!JJ-!UU2!OU qGAGJObU

COUJJçL!G2 12 CL2IAJ1IJ bG JU N}IJCJJ 4JJG OA6LIJI1JGU 2UUOIIUCG2 2 eCpGqfTJG


0J 2UJ2JJ q2CLGcG qGA2Ju12çOU2 JpG !2 bLGAGUç JUlJgc!OU q1GLGUçJ2J2 jLOW

CUff24U cpGLGp2. U6CG222c!1J 2 2UJG JØL6 q6A2JfluçOU 2 JAG 2]J2JJ 2GG


JJOJAGAGL CL2JAJJU bG2 2JJ2LG UJ2UA O }JG p22!C bLopJGuJa O 2LqGu-A2LiGc2. x€q
L2462

J JJJG JUJbOGIJC6 Oj JJOU641L2 boj1c? I1IJ6L X6q GXCJJflJ6 L6

J.J}G flU2WGU2J bLopjGw JAiçp 2 jx€q GXCJJ2UG L2G 2 4JJ24


Wu12 p€ bLGb2L€q o moUGç2L2. bopc2. JOL 2ç2piJ!2çJOU
bnLbo2Ga COU2ICJGL bLOpJ6UJ 2CGq p2. 2 COITUçL2. JJ p2. 2 2fTCJqGU 2uq
BGLUJ2UGUç 2JJ 111 qGIJJ2IJq jOL iça GxboLc2 EAGU Hi 2 JGX!pJG-bLJCG JAOLJCJ 2IICJJ

2 epOCJc !AOJIJq UJ2JG JJG COI1IJçL2. tAOL2G Oj JT IAJJ 2 x€q GXCJJ2UG L2G 2Uq
LJiqiçiG2 Iii UOIJJUJ bL!cGa Uq IAU62 }J2LIJJ 2 UJ2JJiGq Jç}J
UO IAil2. OL 4JJ6 LGJ2çIAG bLICG2 o GXboLç2 2IXJ JulbOLça q1rrç IJ 2OL LfflJ
qOmG2çC GUJBJO2.JJJGUç 2U ofrçbfr UJf12 jpjj
MJ2. C2U JJG OIJJG OA6LUWGU 2IUJbJ2. IOJAGL U6LG2 L24G2 2uq 2c!1IJITJ2cG
2JJOLç-LmJ qGLU2Uq 1112ç 22 IU 2 GXOOJ I2-rVJ wOqGJ, JJJG 2cnwpJiU pJoCJc 12
COUJpJU2çiOU O 2 x€q GXCJJ2U6 L2çG 2uq ob€u c2biç2J w2LJ6c2' j GXCJJ2UG
L2cG C2uuOç C2IJG 2Uq c2biç2J 12 UJOpiJ& }JG qOUJGecTC UOUJU2J !UcGLG2c

L2çG UJH2ç GdfI2J OLGIU UOUJJU2J iucGLGec L2çG'3 B11 P! opAon2J2. JUJb11G8

JJJI2 12 JJ IuGLç bu couqçou 4J79 'JOli Jp)JOL qI2Cfl22 !" COIJUPJTIJOU O IP!2

2?JJJboeJnuJ hiç? LGdnJL 4J9ç 4J1G qflj,GLGUGG GlAGGU 4G ilOu1!IJil !UGLI Oil

3
cJOIJJG2çJC U6L62 L62 L6 qç€uup€q U04 pA qoiu€cc W0U6çLA
bojicA yuA GxbmJq UJoUGA 2rrbbJA ot €xmbj& pA gu ob€u-
UJLJ(G bnLcjrn2G oj qowGecJc 2scnLic!G& iioirJq J6AG bGobJG pojqu 11101.6 IJJOJJGA
q62JLG bLGAJJiuW jOLG1J L9ç6 0 !Uc6LGac }IJ' P!qq!"
JJG iucGLG2c LG q0!A1J 2 JU CJ026q-GCOIJOIJJA iuoq€j 01. a tonJq pUbbGu J1IJGL
J04IJ 6XCJJJJG LUç& GUç2 2!IJJBIA 86JJ 4}JG!L GXCGB8 WOJJGA pojqp 4JJG JJOIJJG
CGIJçLJ IJJ( 0L 0L€1JJ CJTLLGIJCA x€q GXCJJJJG L€ JJJGA JJ€IJ !JJA62c
4JJG bLocGcqa pioq uq cpGLGpA LG2OLG cpciL iuiçij boqopo pjuc€ p€ç€su
qow6eçic UJOUGA wlJq 0IJ2 JJJJG 0A€LIJW6U2 o !UcL€2G
enbbjA Jj2 pGC1I2G UCdH!2J0U2 o qouJ6acc pouq t€ €xcjA O2G p
J02262 O oLGJ J-6XcJJtJJ6 L62€LAG2 yiiq oAGLum€J.Jc coiiJmiççGq o o xq LçG
JJ2 IJO CJJOJCG pJiç JJ0li. LGHGLAG Jo2262: L6I2Gq pITIA pcj
2rthbJA 0 UJ0JJA JJOIJJG CJILLGUCA oiijq q€bL€cç€
1?G 1G220U 2 133GB 2 C11LLGUCX2 6xcpu
cou.o o qoiiiçc uiouK flbbk
JGL1UJLJ tLOW fl2iU 1JJOJJ6çLA 2çpiJi!OU bojjcA J2 pULq joL OA€LUUJGJJ
p6cU€ 20 qJcnJc juq oçjJ€L bopcA cu 2çGb uo
}!2CUI bopcA LG2bouqa 2JfipjA iJq mA uçij rnJqG2JLpJG !JJcGL6IJGLUcioIJJ
qJ2çLipf1cJoU8 bojrçicj 2JqGbAmGua iJq qGqt6ijJç coç C01111BGLCJ boJicJG2
9 imb1? p€iL oti.u 6WcrGuc?. coça LG (LJpcJX) Lcucc€q pA iuçGLu-
0UU] "q !LT/L!cG LGcJWç!0IJ p?k bLçu€L2
J°' 0 MO CJILLGJJCH2 y uq cxlcnj cxbcoq bGLcGuf WCLGU2G rn fG bLJcc o CffLLGUC?
B TU GLUJ O C11LLCUCL y JJJ!2 p01J2 qou !ULç-LH6 €diiiji MJJGU GXCpVU6 bUL!f
ux uq uo GxbGcq o cpøiJG flIJGL AHLJG GXCHUG LH !I1LG2 bHLiç? uocq uo yojq
cxcjj? pccn o cnucxjc? ujc bLdung1 pn içp gjj fLLGAocpJ) xq GXCJJUG LG IJJGLG J2 Ho
CIILLGUCA LJ2JC uq J16L610L6 HO boep:J;ç? O C11LLGUC? LJ2$ bLGw!nm
!IJIGLAGIJ1!0IJ

p3 bL9CICG AlIJqGL pocp pc€q 9uq 0Uç!1J L9G2 CGUL9J 9UJ(2 oçGu cL2. !UUffGUcG

}JG GXCJJ91JG L9G tiucpollc r1ll?. C0UJIU1ç411J UJ0IJ6ç9L) bopc? p2. nu


GXCJJ91J6-IJJ9LJCGç iucGLAGuc,OIr cP!2 Th€ 0 1ucGLAGuçJ0u 9 0AGLUIIJGU enbbolç8
1ç2 6XCJJ9UG L9IG pX (ci) 2GJU 0L6!U GXCJJUUG LG2GLAG2 tOL qouJG2cic W0UGA
9Uq JJGJJ (ç) 8JGL!J!!U (m7qou) 4?}JG bOcGUc!9J COUçL9CçJOIJ9LA 6jGcç °''
qomGecic IJJ0UGç9L?. 98G 4JJL0IT}J 9 2!WffJc9UGOJT2 uq Gdrr9J brrLcpeG o qouJGaçic-
CrzLLGIJC? pouqa' JJJG IJG GjGCç 12 o pouJ6- uq
0LG1J-CfILLGUC2 pOIJq2 717 bui€ p9nq& 6LG 8 170 on LGJ9çJAG mou€A
8nbb1162 JU 9 3O3 UGq !UcGLA6Uc!017 ObGL9ç!OIJ 0A6LUWGU OUJ?t
(ci) in tE4J1C}J C986 0LG1JJ GXCJJ9IJG LU9LJC6 ObGL9çiOU8 qo Gq iuço qowG2çJc
wou€ anbbj jyG A92 WoLJ o !UcGLA6Uc!017 Gb2oqGe LGboLçGq iu juuci
bLG8e 916 2cGLIJ16q L9JJGL cJJ9JJ UOU2GLJGq IUçGLAGIJçIOU2 JJJG ,9TJJ1LG 0 W9IJA
J0rILJJJ18Ja uuq bojc?uiij€ia bbL€c1uç JJG qaçucçou 18 8OITLCG 0 LGç
C0il f1810IF
JJJG cç 18 OL JJ ULG IJq 4GIJiOU 20JJJGçiWG2 LGCG!A& 2GL-

j€q 1IJ4GLAGUç10U obGLiou2 LG JL6JA 2W0JG iq UJJLLOL2 p€crr qo


U04 CJJUG L€Jc!AG IJJ0UG? 211bbJ!G& 2cGLJpGq !IJcGLAGIJc!01J2 CIJ }JAG ouj? moq€ç

017 !JJc6LG2c nq xcpw€ 1uç62 JLJ1& rnq€i 4JJG fNo 22nLubc!ou2


cpc cffLL6uc?-J4aJc WJG8 pomG- irq oL U-cJTLLG17c pouq imbGLjGc efrp2ççnç€&
uq pç jçcqu GdniAJGucG y1J2 2çGL1pGq !IJcGLAGUc!OU CIJ IJ }JGOL2. JJAG
20WG imbcç EWb!L!CJJ }JO!AGAGL cJJT8 GjGC 26G11J2 pG AGL?. 2WJJ uq qJcr1Jc
o qç€c (26G ET!2O1 T8) o C0f1L2& J 6XCU€ L€2 corrjq pG 1LLGAOCpJ?
p uo crruGucA IeJ& GiU amjj €jpcc iiioirq q2bbGL
JJJJII8 26L1J1G !IJcGLAGUc!OU CIJ qo J!ccJG IJ?cJJ!U pLGJ
p€çGGU UJOUGfL7 boJ!c?. IJq JJG GXCJJJG iç

2
J,JJG iJIJ468 O JXGq GXCJJ9IJgG L68
QAGU 411J6 2CL1UCG O mOUGçLA LGGOW ijiA eorrjq OAGLUW€IJ GAGL IIU41 410
1418 CnLL€JJC?8 OLG!1J AJH6 JJJJGLG L6 4IJJLGG UJJU L€2OU2
JQL2 fJJG rmbLGqcçpjG AOJçiJJç?. O UO!IJ 6XC}I9UG Lç& poçp om
apoLc-çGUJJ bGL8bGcc!AG mq jOU-ç€LUJ ou& crnJ iupcc qmG yjçponp
ocç€q coeç p€ uoç dffuçiq L1oLon2J?. iumjA €cououneçe PGJ!GAG
pc GxcpuG-LçG mc€LçUç? L6ITCG2 iUçGuwçiouJ qaconLG2 !UAG2c-
w€uç uq comborzuqe bLopj€ure bGobJG CG JU JU21TLJIJ JJ1TUJJJ Cbiçj
!u 22G LJ€ç8. EJTI4JJGLWOL& /AOLJGL uq ULUJ2 JJ(TLç p?. bLoçLcçGq
GXCJJIJG-LçG 2B JJ2 oç€ii q€urnq iWbOL bLoGcçTou LOUJ }J6L oAGLuLuGuc2
J/pTC}J 0j 4}JG GUfl2I2W OL WOU6çL nuqcciou /AJJJU EffL0bG rnou
(En) eç€ma jLOW 4JJG pGJJ€a cpç jocjcq Gxcjniu LG8 IJJXJmG ue LouJ
mij€q JJJLJGf JJq IJJ4 GXCJJJJG-L4G JuqrrcGq jnca JJJ COWb€çJçIAGZJG22 iipiu
P6 Efi CJ n1Jq6L1JJIJG boJ!ic9j CO1J2GU2fl2 jOL JL€G iJçL-fl JUJJJL
pGJrGj2 WoAç6q qGeJJGL2 O 4JJG BL6çOU OO2 A2çGW LGdITJLG jx€q €x-
CJJ1J€ L€8
JJJG e€couq moL LJOUJG OL x€q Lç J2 b€iu
iUjJçiOU C1TLLGUC2 IAJJJ JJGJb LG2LU qol.uG2çic ii.qJçiou bLGe2nL€ IAJJGJJGL JJG2G
OLIJG J GXCG22IAG 0AGLUWGU pnqç q6ciça OL u iiW mq bucG eGc!u
qcoue o bLiAçG 2GCçOL jj.112 qi2cibrnG wi.rniiu cow€ iii mu?. joLm2
prrç pc iq€ mbj€: vLi uuorrnc€q bojicA oj b€u GXCJJtJJ6 LG
UJA 2€LAG 2 g COUJIJJ!çUJGIJç JJOMJIJ OAGLUUJ6IJ L62!2ç IJq
GAGIJ OLG2JJ 2rrpaGdrrGiJç 4GmbcçJou ofloli. GxcGe2iAGJA 6xburouL?. wcLoG-

COIJOJJJC BOJJCIG2

LGBOU OL b€iii bb11G9 4O COmJçL€ IJGL b€Loq2 O


bLic€-JGAGJ flJ2çpJJJç? EOL 2flC}7 COmJL!G& JXGq LG8 JJAG o u-
Q
cpoLiu bLicG iuuciou jOL uc cioijjA ooq uq bLoAiqiu boç€uçwjjA
rnq€ OL bLAøçG-2GcçoL iIJçiOU Gxb6cfçioue B'"° JJ)

o piq o bc
ELOIJJ iote mcij jj cocruçI4€8 brnanGq O pcGq €XC}JUG LG2
pA bcJD CITLLGIJCIG8 qoJJL Bç}JU BLGccOIJ ooq LGGIJJGUr
!u!JLJA p IJ€NGq JLGJA 2A2f6m or. bG1u IIJ
q€nç2cJJG mLJc) pTucçJoLTGq L6JcrAGJA 2uJoocJJJA pGçIAGGU uq JçG JJJ1&
LGJIIJ1JJ6U2 qiq OCCIIL HTJq€L polJJ 2A2çGIJJ& iApiCp 12 RJJA LG 2OUJGllJJG2
LGGLLG 2 c6q piiç qcT2cpJG JJO2G GLG UOç GAGLAqA GA€IJç2 Jj
JxGq xcptu LG2 ii€i boe2!pJG p€OL& thJJ4 BLGAGIJ2 LGJTLU JJGUJ iJot
JJ}J€L6 12 JIççJ6 dn€2çiou piG2ç 2iIJJ6 C4OL JJ2 pGGU qLUJç1C
GAOJf14iOU OJ ROLJq cbij 1JJLJGç2 2 COfHJçLIG2 pGU J1IU €XC}JJJG COIJLOJ2
iiq qGLGfTIçiJJ J1J1JCJJ UJLJG2 O ALAIJ qGL6€2 2LU ID }J6 ic Th20&
/A6JC CHLL6UCJG2 GC1JJ6 IJJI1CJJ UJOLG AJ1JUGL9JG 2JJ1JIJ jopij Cibij jo
uq Jç pcm€ rwboa2ipJG fo BLG0U ooq 2 u AotiGq qif12ctpJ6 bc
2AçGur T UJ22IAG O 2bGCcTjciA6 2t!6bç i 9tiA JJ IJq
J3 D'!" 142 GLJA ?GL2 JG EJAI IA9 2!unILI?. apJGJqGq pA cbiçj COULOJ2
uoçpj? JIJ }JLJJC€ 1J JçJ? 2 COULOJ2 tAGLG 2pGq qflLJLJ cjJ wc I0O2 JIJ
BIIL2IIJç Oj EflL0bG 2J1JJG LULJG JqGJ 8A2416U3 pGCIJJG UJFICJJ IJJOLG M1jUGLJG
o 2bGcrrjiAG ou IJJ1221AG 2CJG
rc 12 drnçG IALOU poiii€t o eb6cçcrrJL Gxbu2Jou o .IA0LJq
cbiçj JJJLJ.CGç2 }J2 iirnq JXJU GXCJJIJG LcGe HJJbO22!pJ6 yu nu-
q€LçuqnJ o bornç pJpjrpç LGJ LG2OU iip?. corruçu JJAG
2u12çJUiIJ GXCJJUG LcG2
3T JJJG 4GCpIJ!CJ LG12!P!II O xcq GXCJJ9IJgG L62

V counuou w!ebGLcGbc!ou quç iu woec bobnJL CC0I1U2 0J OL6.U GXCJJU€


CL2G8 2 MoLJq cbiçj wuLj.zsçe JJAGLOliW coo pi OL gjj coíuçL couçGuJ-
bJçG UX!U 6XCJJØU6 LUç6 JJLIT& JJG qj2 AOJITUJG 0 OL61U GXCJJUG
Cçou2 IJ0/I, GXCGG2 J cL!JHOU bGL qA IJJ1LUGL L .LG4€L cJJU cIJG LG2GLAG2
BIJ?. CGULJ JDIJJC Em413€LWOL& }JG JL62 BL!AG pGqG /1Uq2 qo 21JJG-}JUqGqJ
coumuq GU0ff LGCOIILCG2 iubG onç toLGiu GXCU€ LGCGLAG2 o gjj pnç
p0JTç CGIJLJ pUJ2 GUq 0 Jf 0L02 I\U6WGUç LGBOLç€q
iUAGeçmGuç cbiç o uioLG JJ pjfloU 1Jq J€L juGwGuc IJJOLG Q
P!JJ!OU (A J$ 1'' 52 I882 b DI) JUç6LU210UJ y[ou6cL?. Enuq
G2çiUJçG2 bjcG oçj cbçJ oj jj JJGG mJqe u 12 pllJ!ou (ojq-
eç€iu rnJq ebcrijçoie e€ç2J}J8 OIJ CffLLGIJC?
bLçiccqLJ?. 4JJ9ç 0 2WJ C0flIJcL? JJ0I CU ice CGUçLJ pu boeepJA LGeieç,
D62b!cG }JG 2G€UJ1U U J2UJC pGçMGGU LG2OITLC€2 AmjpJG 40 IJJLJG2 uq
CGIJLJ pUJ& JJGLG L€ uo u2rruJJomJçpJ€ cGcpuicJ opeçcj€e pqu 6XCUG
Lç€2 yjoaç CGUL9J pJJp }JTThG CCG22 0 GIJ01IJJ 0LGIJJ GXCJJUG LGCOJTLCG2
p€ç qou 2bGcnJcJAG 0 ¶mk iuuçnq& bLoAJqGq LG uqpu
21TpOLqJJG JJ 4JJ€ O}JGL 0J2 O UJ0UGçL? bopc? jo q€uq cnuuc?. bG cp€
wouGçL2 rrçpoLJciGe ouj? u€q 6u0np LG2OITLCG2 o pnA pcJ JJG piJs-boM€LGq
IJJ0UG4L? p2& €diij q€boee 4JJG C6IJLJ p1JJC bJffC Cf1LLGIJC? pr bicçic&
O COJTL2& CGIJLJ JJJ( IJGAGL tionJq pn?. iib 2G LGbGJ
ab6cnJçiAG 9ØCJC B?1 LGqncIu Ice WOUG4LX p2G es1uJCiGucI? CGU4LJ prnJJC

CU L12G iIJ€LG2ç LçG2 JGAGJ 20 JJIJJ 2bGCflJçOL2 .tuj juq c bLoppçAGJ?


GxbGuelAG 0 2JJ0L !LY cJJG qomGacc CI1LLGUC?.J

3VJGLIJIAGJ? L6CJJ 4p U XCfl6 LG J2 4JJG LGJJ1AG buc6 0J N0 IJ!OIJJ C11LLGUC1


B W'1 L&111CIIJ JJG 2G WOUG) 2nbbJ? 6UWJ puJc cu JGb cnLL€ucA2 bLc

8
JYPI6 I t€botçe 2GbcGmpGL 1001 U10U6ç9L?. p026 9JJq tOLGIU GXCJJ9IJG LG-
2GLAG2 OL 9 IJIIIUpGL O COuIUç G& 9fl O IAJJC}I JJ9q x€q L94262 cw msq€t
ebGciTJ9çii.G je y cowb9Lieou ot cJJG utec 9uq cojmm.Ie !U
JJG 4UpJG 2pote AiLcfr9HA 9fl O COITUcL!G2 pq GJJOJTJJ tOtGU GXC)J9U6

ou puq o O EOL BI!'" iw'-'q


cpG MoLli.9?! oLcnøj flg 9uq GAGU AGXIC& cpG L9çzo o
cJJ€ 92G CoWtOL9pj?. O/L IOO EAGU OL li.G9JGeç conuçtA
pj?. L9çio 92 u€utjA oe yuq cp ewbj€ cowbffLleou !u JypjG j toeeA ins-
9 comJL?.2 9piJIc?. W9L29J L62011LC62 !u ice cntt€uc?.e q€ue€ [1oL
C€IJL9J 9IJJ2 6UGL9JJ2. c9u ou J!UG 9LL9IJGWGU2 R.cJJ OC}JGL C6UL9J
p9up jjoii.iu drncjqA pOLL0.tI tOLG!1J CITLLGUC?. tot !UcGLAGUIOIJ

i'qq 9 OAGLUIJJ6U 2 !IJ2OIAGLIc Ic C9U 9JR9?.2 pOLLO!!. IJJOLG LG2OIILC€2


ttom bLJA9çG mLjçe 29J nb pJp-botnGLGq wouG?. E€iJ. ot conuçLi€ u
J9pJ6 I tAOuJJJ J9CG L72OIAGUCA RLGLG 1JJG!L brrpJc qp-c°-CI4I, L9çO2 V'P P
}JG UJOmJ 0J }JG wOUGç9LX p9e€ Jç9J?2 OA6LIJU3GU tOL Gx9uJbJ& OLLOliG 9IJ
9IJJOJTIJc LOITJJ? 6drnA9JGu o GbcGwpGL T00T P°0I'1b L9410 6AGL? ?69L
tLOIJJ I02 J00Ti
y 2bGcnJ9çJA€ 9çç9cJ OJJ CGIJL9J 9UJ2 tOLGJJ LG2GLAG2 C9IJ 26 Oj 9 GUGL9J
qouJGeçC pujc Lnu (€ GxbJ9!u p? WoWGUc9L!J? I CGUL9J p9uJ 9C8

pcq iu pc jcc o 91A GCLG92G u qcuJ9uq


E0L 4JJG uiçq 4JJG p9€ 12 g 0Mb 9IJ LG2GLAG9 JucjflqJ1J ojq 94 W9LJC A9J11&
LOL 19b91J coLLG2bouqJu L9JO WLG JQ 9uq MC!cPGL O f}J cOflUL
uA u€q yb JtLG LG6.A OLJ puq 2LJC€ UGJJGL GXCJJ9UG B' G!JJGL conjq
P0LL0M 4JJ€ 9lJJOnUç ucqq fO pn pcJc JI2 9G !AçJJOfl LflUU1LJ }JG LJJC O IJ9JOIJ9I iU2OJAGUC)
Mo4icG conuiu c9U wur ii boGuz9J J!P!1!c! GIJOLWOUJ fl 4P 00I!P1A GIJ9G
Hi iLC-C9JG LJJISGq JIJ4GLA6IJOD JO 24Ob 9 8b6CflJ94AG L1IU pGLGp? PGI! pfl flJ1J2
4JJG LIIU cu pc mJcp2ooq iiçpon; UflC9U !JJfGL-L9G PflC

0
T

EOJ'EICM EXCHVJ4CE IcE2EIcAE2 COVbVBED MLLH LHE WO4ELVBA BV2E


EbLEBEIC j (bEJcEMJveE2 OE 0Mb)1

B6J!flm 151
DGULI(
E!uIguq JT.
4 JØ4
ELJCG
43
ILGIuq JQJ
IcJ?
GXJCO
,jCçpGLjuqa ro.o

bcr'J Th

rnç€q

onLcG: JtJJJ OS SC% JAI jocj OLGJ1J CX-


CJJJJG LS2GLA€2 ncjnq€ ojq jn€q b OITUCG (6b6wpGL Th
HG2GLAGa rncJnqG bGcirJ DL/U 1pça c jyjj Jç626LA62 bJcGq "çp cp EnLO-
b€i O1JGçL? iccc P EYT UJGL1JGL LG UO cornscoq JIJ coçj LGGLA6& piç
€Cfl pojqpi LG pGjJ1TJJJ2 2G OL JJG joncp dI1LçGL o
flI<2 OL JJG L2 dfwr4GL o T00'F CMB !2 JJUJTJ JJ1LG GXCGbç OL
b!u nJq llGq€u pcy LGbOLç CDID C14b oL DGUmLI ELLTC&
JLGJIJq uq y[GX!co J0 CI/ib TOL bOLcfTJ I5 CDb OL J1JA
JGIIqGL O J2 L68OL4 uq bLoiqGe qoweçc CITLLGUCA jorna ptIJJUiJ 22.24GUJ
2G conjq lilUJb qLwflcJJA uq GCOUJ6 2 JLG 2 OL GAGU J/J 11CJJ
GXçLGWG q2iUçGLmGqçJoU OpAJOrIeJA JLorrJq JO JJ6 ecOCJc oj boç€uçij bLJAçG-
26COL CJIW2 Oil C6UfLJ piJJ.C8 OLG1JJ LGCGLAG2 1j COrnJçL2. LGJJ2. 1A€2

bLiwc2. ice GXCJflTU6 Lç6 cowwTçwGLrç ïç CJJ ITCG OJJ6L cow€uçiouJ m€ue
puqj pIJJq1J CLI2I& 0L GXUJbJ& puj poJq2. oL COUAGL2IOU O bL1AçG
qGbo2ça U4O OALUWGU qGpç JJJJG2G JcGLuçJAG2 IJJ92. JJAG i1UqG2iLpJG 2b€Cç&
pcç 2JJOU J}JGLG 12 UO cGcpuicJ U6C622)ç2. cowbLowi2G €xcpus

yIJA COJJ2çL1Uç2 OIl JJ6 LG2OITLCG2 p€ç Oj 2bGCfIJçiAG q2-


1bb6L cowbJ66J2. upu u €XC}J11G LG b€ AO C1TLLGIJC€2 p8
nudni€q enbboL O pop CGucLJ puJ2 ñcL GXCJJIJG L€ 12 WGLGJA
cIJG LSJAG BLIC6 O AO CHLLGUC162 Lrq 6CJJ CoJT1JçL2.B CIILL6IJC2. 2 mouobop2c-
cjjA 2nbbpGq p2. 1ç2 C€UçLJ pJJJc JJJJT& pO41JJ C€LWUA uq }LUCG NGLG
coumJrcc€q 4O m UçIUJU JJ O4)JGL moUGLA
oj& conJq €ijoLçJ2JA Lfl2 oj c'€ cowpLuGq wjJç o MOLJq2 p6qG
nuq2 uq OGL bLiAçG 2b6crrJçoL2

JJJG L69'J bLopfGm: CombGW OAGLLJW6LJ Op)GCçJAG2

J CGJJLJ pUJc2 AiLcrrJJA gJft22 }JAG LG2OIILCG2 CLfI2JJ 2b6CI1jçOL2 MpA qo


2flUGL b€tioqic JJiTWiJiiOU pA OL€!1J GxCprnJG UJLJCGç2 jp€ bLopJGm o
COJ1L2& 12 AL 6IA CG1JLJ UJ(2 RJJJ CJ1IJ o u €XCJJUG Lç€ iiiçposiç
LGL tAJJç 12 }JbB€UJ1J Iii LG2 O 4JJG GCOUOW? DOWG!C bojricj LGJ!lG2
21mbJ?. RUJj JJOç JJOR GAGU tAJJGU LGGWGIJ2 IAJJ OLG1JJ OA€LLTIJJG1J2 9LG 94
2çJCG.

tA6 JJAG 2G€U 4O €uq Oj WU)OL 2bGCfTJç!AG }J6 IJJOUGçL?. nçpor.i-

I0
mri2ç G bLGbLGq jjo v 2}Jmb !ucLGff2G !IJ qoweçc JJJçGLG8ç LG8
GebGCijj? eJJOLç-çGLw LG2 fICp epth 2bflCGe !U !UcGLG24 LçG& I 2112çiUGq 0L rn,?
jGup 0 CU RL€JC }JAOC MJçp pUCiU eeç€m iipJcp pOLL0li2

2JJOLc iJq j€uqa J0U OAGL J0UGL GLiJJ }J626 LçG L1862

cu 2O bLojpnuq uGc!AG GUGCc8 OIJ !IJAG2cIJJGUc cp OA-


€LUUJGIJç prrq€c qjcç uq qowG2cc q8çL1pr1çJOU 0 IUCOIJJG 0A€UJW6U
bJsqG iç i.ijj .uoi€ ericp eqG-Gjj6cc2 uqGuç6J?. q9Guq GxcprnJ Lç€
ia uoç jijj?. o !U cffLU UJJG2 pc€q GXCJJIJG
LçG woiG AfIJU€LJG ebGcfqçJAG
B6Cfl2G nurnJçiCJbçGq arrcuq WCLG92€2 JU JIJçGL€2ç LG2 LG 20 coeçj
0&J 0 CGJJLJ p'JJJ. JIJ CJTLLGJJCA CL1212 12 fO COJJAJJJCG ab€cuijçoia drncjq?
boe8pG Ic 12 uoç OflJ ojq 20 4}J IJJçGL€2 LçG2 CU L€çJiLU 1JOLIJJJ
J€A6J2 Jj JIJA62çOL2 L9J12G PGI!GAG CGIJçLOJ pIJJ 12 liJflhIJ 8ç JJG

C0JTL26 OMGAGL GAGIJ }J6 wo2 qGçGLwiuaq 8JJOLç-6LUJ 6€U2G tAiJJ JJ 2 JJ€
1TçpOL141G2 GA6IJçITYJJX 29CL!UCG IJG CITLLGIJC? b€ LG2CJT€ qom62cc GcououJ?
ILPG LGC6IJ RGqi8JJ GXBGLJGIJCG e C2G u bouç ojjoiu rib ou iç gbbji-
COIJ OL GLJçL?. Juço cIJG EnL0bU 01111111117ç AGGU pu b€ iç jaou
o GbcGmpGL iii qLiuçc
q€uq J(LOU2 b€ IIJ28!A6 2bacnJc!AG bL€22nLG MG€U2 C6IJLJ
pujc (çp L2€q LLwL1TJ o/r.upc JGuqpJ Lç€ 200
uq r€jq air JGA€ 0L ofiL qAa IM' ou L2 pc-
uq u pj€ jot€i JUçGLG2ç LG2 1A1JJW conbj J2 B cv' pIILç 0
11JçL-jJ1JJ IIJfGLG2ç LG2 J9ç JJG GCOUOWA iii wrrcy MGJCGL bo2içiou LG22ç

uxç bGcnJçoL& 266iU bLGcgLiorre eçç o JJG Gcouom? rnq b€-


Cifl? 0 iça pUJiIJ 2GCçOL LGIJGtAGq 22ITJ ill wq-4oAGmp€r JJJ2 im
cIJG JçJ2pIJJ corijq ioç pLiIJ !cR L9126 JIJçGL68ç LG2 GAGIJ J b€icuç

TI
H?LULGU uq r!"qp' Th2) 011 I4OAGWPGL MGGU puqouGq 12
pc€q GXCtUG LG uq jGç }JG JCL01J JO JJJG GUBfl!1I 8JJgLb qGbLGciciou o
jaou LGJIGAGq bLG22IILG 011 MGq€ua €coiiow2. JJG JflC2pUJ 2J1I[GLG
p' cthiçj J02262 011 ! j0LGJ1J GXCJ31JG boe!c!ou2
JJJG RGq2JJ qGGU2& 1TJ4WçGJA JJITL& M2 mJn2rr9J IIJ ice oLcJcfTqG
BI4c!U2 coUcfJLLGIJç ff4 epoLc-JA6q qGGuaG O JJG bonuqe boe!c!ou !U EV12
CJ1LLGIJC2. Lq 2 mos cThJc9y tJyGu cjrG boswq CWG nuqsL JuçGu2G ou
asbcGmpGL J flLJçJ2JJ 114?JJOL1ç1G2 MGLG LGJI1CU O 9JJOffi LJ2G IU !UcGLGec LG2
OL JU }JOIJJG JJJOLG LG8 LG jiujcGq wLJ.c€c JIJçGLG2c LG2 rnicp
AGL2. pLJG J pJ2çGq nçpO4çG2 GUGq IJ WU22AG 2çGLJGq JuçGLAGIJ1Ou
(LsboLGqJ2. OAGL pjjiou)2 jjqe €oLç bLoAGq !LIGUGCc!AG uq IJGL OJJJ2.
JJOJTL& BL!c!2P OAGLUWGU JJotAGq 4JJG bonuq o joç
I" IJ °. J5 fP IIP i'q BLUI2P OAGLIYWG1Jç2 ycGq GCO1JOLIJCCOJJq-
}J MofrJq AG GGIJ fflJCOUJoLJG nuqGL jx€q GXCJJ1JG LG2 GAGIJ JJ
2€IJCG O 2bGcnJciou ou bLiç2 cprne JyG WSLJCG2 2JGbccI /JGtA o poçp
COITUL€2 GxcJJtuG-LçG coiuwçwiça mJq LG211Jç1IJ 2bGCrrJç1ou 2JJLbJA
cowbomiqGq bu GL UJOLG OL JG22 O JJJç) OAGLUWGIJ422 LGuGGq [u

mi2. LG2bGcçe CL1262 LG GxrnubIG2 O JJG UJOUGçL2. CLGqTpiJiç2. COUJTIJL1JIJJ


IJ9J?Gq p2. g2.qjiiq iq €C0cc (mY C91AO (jg q BLLO q
() ojp€iç rniçp WOLG cowbjGx ql17wc2 y pec !iubJ!c!ou o J!cGLcJTLG

12 OAGLIJWGIJ2 4JJç LG flIJJG IJJJG CLGqpJ? piiqu bLoiu!262 ponç


GXC}JIJG LG Mifi pG v 2JGbç1cJ WLJ(Gç2 qGbLGcou
JpG L€uqGL wuA rnouq€ porn ff rn2 49CJJUJCBJJ) (69pJG JOL JJC fluIJJ 0J 4O LGqG-

uowuu;€ o urncp qpç ILOW bonuq Juo L°! cnLLGUC iu encp epoL ;pnc JJJG ØUMGL
C6ULVJ puUpe IJAG JOUR naGq qGLA9çAG (oLrnLq WLJCG coufLcça Ju b9tJcnJL) o cpi€i
24cLiJrGq IIJçGLAGII1OIJ U G1JCJJ M€ JJAC WGIJç0UGq IJII ThG Oj GXC}LU6-LuG G6II2G
cu dncjq) iiq qLW cjfi !UCLG€ JJG OA6LUWGU8 Gxboern.G o ju iuou jo
'5
GXb6CççJ0U2
COAGLUIJJGJJcC 0çGU GGJ !I I1J6 conjq brqj oj 2fTGU LGpuw6uc 1neç
OUC6 iJq cp6L6p?. briç ITIJqIJJGUçJ2 LJç cJJ6A MoITJq cY6L6c6L 61JiOk rnçe
cLGqpJA JxGq uCJrrq11J 6XCJYIJ6-LçG C6Lc!uc uq qowGeçlc bLics
qiacibjrn€ 1p6?. LG ML0IJ JJG C4OL8 JJ J6c jeç LGJJ1JUJ6IJç L6UJIU
ijq C0IJJIJ }J6 26GcJ2 0 4JJ6 IJ6X 011G 0116 C1J 8A 0L 211L6 R41611 c tMJJ 0CCI1L
prrç I8 JJ6p}Jooq LGiUçLoqITcGe poçj 6XCJJ1JG-LçG fTUC6LçiIJç?. uq IUcI01rnL?.
BLGC2ITLGC_çJJG A6L7. 6A1J2 JXGq Lç6 R8 8flbbO2Gq J1Lq iu2ç

/GXiCO T3 UuciJ coJJ&b6


GX!CO2 LGC6IJc 6XbGLJGIJCG jITLcpGL !II112ILc68 q?i.imc luc6LbJ p6ctIQGu 6xcpu6-
L6 cowmJçuJGuçe uq cLGqipflç2 1136 C0iTI1çL?2 q6J?-bL!e6q 2GAGu-?GgL
i€ ice b€eo cp flrnçGq qojjL i€uç nb iii UWG2 113 DGCGWPGL
J622 N66J2 9GL I1WITJ1LçJOU 0 J,LG2iq6IJ E2c° GqJJJo.

rT 'fJJ1çoIJJ? O CL1212

€xco pq eITjjGLGq €a o pp iuçou !ipu b€Gq b62o o qojj !"


DGCGWPGL T8 113 1UflL?. 6X!C08 pc€q LØcG !U2 IJJ6 qoJJL
p6cm6 bL6uuonucsq CLIIJ!IJ b€ JJOMG J0L 201116 qGbLGCçiOU 6C
?6L pfiç LçG drnçG uJoq62ç IAGU L6C6IJ 6X1CIJ !1JJçI0U 1f4 4JJ6 GLY O
JJ JJ6 OAGLUW6U JucioqncGq p9uq 0L 4JJ6 6XCJJgU6 }JG rrbbGL 0
RJJJGJJ RL2 L!26 2JOiAJ?. OAGL boc6uc!øJJ% sJJoiiiu joii qGbLGcçou iipj€
J0OL 0 JJ6 puq LGUJrnJJGq COUeçrnJç E8cPneP!I cLGqpJG COUJUJTçLIJGUç
JOti JIJ çJOU M92 CJGLJA bL!mLX WOjAG pGpIJq JAIGX!CO2 CITLLGUCA bG
JJJJ2 cLGqppçX qiq uoç COLUG dIIICJq?. OL GjJ ço yGXJCO) GAGJJ çporrjJ iça
b€€q LG bojicA comb JGUJGUG p). LGUJLJWpJ? 2IiCC€22;f1j €OLç ço LGjOLUJ
OJJGL jCG8 Oj 41J€ €couow? JJJJG COmJçL?. JORLGLGq !wb0Lc PLL!GL2 qGLGcIJç€q
cbij UJLJc6ç& bLAçGq 2ççG-oRJJ6q GUcGLbL!2G2 uq Lqnc€q p€ bsipjc 26C-
OL2 ps1qGc qcc rnq qpc MouGcJsGJGa& c}JG DGCGWP CJTL-

Lsuc?. CL1212 drncj4X G2CjG JJJçO tApOJG2JG OAGLUIJJGIJ jdnqç? cuaia jwiu
iUjiOU OU çp LJ2G rnq ç}JG b620 2JJLBJ? q6BLGCGq
OIJJG O JJG 2LOIJG2ç GAqGJJcG çJJç WLJG2 6LGq LGA€L2J2 O JJUOI1IJCG boji-
c162 cow€e Lom çpG cbrçj IJJLJGç2 EJrrLG j apoa çiio L6JGALl uqccoLa OL
4JJG b€tioq tLOIJJ çJJG O O JJG O JJJG JOEG24 bjoç apotia çJJG
IJ IJGLG2 LG2 pGçtAGGU JJG OOUO OA6LUUJGU2
qoJJL-puJGq pouq uq uiç€q 1LG21TL pijj O JIJCG mrçnLI* Jyia JUçGL-
aç liJJC pJ LGCGJJ ?GL2 GJJ6LJJ pq prccrrcq ILl L1JG GtAGGIJ J
uq bGLcGuç P€tOLG 1nmbju 2bGcçcfrJLJ? JU UITL? TO2 Ia WG21TLG O
q€rqç L12J( IJJLJ(Gç2 bjc€q ou OAG ibp cji€ pJcGLG2c qIJGL-
€uçij pGçli€GU OUG-?€L C% N}J1CJJ ULG OAGLUWGJJ bG2o-qGuomuGq JJpijiçJ€2
uq ou6-?GL %OOo' JpJ2 b 12 cJo2GJ?. tGjcq boç€uçij OL b€eo q€-
bL€cJou ueç p6 qojjr JyG pJJ Lbp iii EiThL6 T epoI uxiwrnu
ouG-AGL q€bLGcwçiou LçG o BGeo nUqGL IA€x!Co2 uuonuc€q cr.tipu bG
ii cconu o pG [Gxic9u piJiiou GxbGLJcucG bLJoL co cpG i.cGuc co1jb&
DOLUPI1P uq MGLUGL (j)
JJJGLG LG JO WJJ J2 Hi IUGfIøU2 O opOUO2 4O JJG qojjm M1C MG UGIGC III OJ1L
q2cfl2oIJ
urnxiwnw m
cjcnjçcq e cpc bGLcGuc qr[cLducc pcçccu fG ob o p€ bo\qoJJL
Gxcpu&G LG piuq OUG ?GiL onç uq JJG crn.LGIJç GXCUG Lf& ou jiG enwb!ou cob
o pG puq onjq couc!unG o LG btuuonuccq LUG o yjjj boe bGL qoJL

pf
E!anle 4

Jex!co: IUGLG2 L9G 9uq f4JG


GxcpsuäG L9G psuq
MGGIA q9f9) .iaa3-Dec6wPe

bLOW!26q wsx!wflW 0U6-


1
43 A6SL qebLecsou L9G
a

10 V
e6 L96 1622
62OPOUO LS6
9

A
62OPOUO L96 1622
fl2 JP!II L916 \/ \/\//
/ \/
I--" ,_-.__,
S
—\ __.- —
•• —' N,
/
)

0 III III 111111 I I II III liii 1111111 I 111111 I 1111111 I III II

2OflLCG EG6L9I b626LA6 O9L


nix0 eabsiq rioitair1vsb er1oiab9qx9 moil sr1t OoO%-& aiethii
bii ni iaq eauasd lo
Iaik1915Thb ai B 9Idiaaoq 1ains1311th ,Jaii 10 frx9mIn9vo
zUnaI9b nsewd 9rLf owt aaaa13 lo .abnod ndW rLf oo-&
fsLtnel9lIib
1Isifriatadiaabssxs siLt mumixam noiiabsiqsb sldiaaoq isbnu siLl 8fl9ffI1T19V0
asaimoiq isvsworf ti at '1s1i1 MiLl siLt as*am bib tori bnfi saorLt Bsaimolq 1hu1
.nbnivrIoD suji'i .1 aworla Miii siLt -sso oito&% 1aitrtsxsT1ib bib bss3xs siLl
bsairrioiq rnumixsmnolMbsiqsb elücp llrisieiano isila sill rioilariiaaaaaa lo sill
nihui &I$N IBilini InLluIsbiaslq siabibnaD aiiid oblanoU oiao1o9 iii rbiM .!O@t
ioiasvril 8fl153fIOD iuodB IaDiiiIoq li1idBlarIi huB 1asw aloqa iii rIa3ixeM -abmñ
atsinism sisw on ldirob bsbrmoqmoD dsill aln5rnLnsVO auoivsiq baii blo3sl lo
niiiJIsvsb iii Iathrzsbiasiq nodDsIs .a1a5
mai3ilqs)12isvo 8CODLXSM 9flBd3X9 sliii hlsnrIiimmO3 aaW oats bsbefisi iii ssw
bua ethq nioilafirü rbinlw bsmsse in1iaasini isvo siLt aOQQI ol sMioqiont a -eb
rioiMulav .nrwirrisiq aA ewi'1 aslailau1li siLt eviMliimu,aasxs s3iiqlo noilafinii
sniarbxs slai nioilai3siqsb nnsd ol 9assl3th 1qiar1a itiala ui .O@I haq
b sill bsnuiaiaiia 1891 noiMiDslqqa 10 sill oasq 28W Oil idirob beililauL 'd biqai

vtivilDubo1q 892891Dffl iii ooixsM sub ol oimonios amiolsi bna sbaii nioiiasilaisdil
l1tl8fItm1JJ3 iii sill n{lioI4 flB3ii9fnlA ssi'l sbaiT °.insmssiA luH d
4QOI sisill
sisw nIam enioilaDibnii Mill sill lasi oasq siqqa niotha aaw rnqqnlaluo na -ui
98B913 Inch bluo3 sd bsfiuiauL d Ot.aIalnismabrith ao3bcsM lnlslliiD lruioa li3lIsb

isq .'ab silT aMb nwoif ia bisow 819V8 o Iiab .2nofav1s8do


A° 311911U9 ei bias oi oisbnu lasi ian)olqqafloE l&iiaa a aisio vr.nisnu nsdw all oq iii
d
8mlaf lo siLl nioio '(3n9nu) asah siom io) 1liu1 d (at isvo 8 boiisq inail sili -l-nisio1
smoif s3flaI3Thb iii lsveL-soiiq .noilaftai
sifT0' a3irn81rb to siLl laei sasd3xs siai isbnu na Llshsqmi sldthei slwi-snaibxs beaad
aoziasilidale sis bevhsb id ovlaD baa JfèV (CI) odw smuaa 'bii laaimoa .as31q A
bsieailqme id ,beudaio(J baa ionisW (!UQI) nbLoo!-b,Bw)Load saW noitaxsbrn 1(3111w vi
E!äI1LG 5

G2OqOII9L excpsuae L9G suq bLicea


yuun q9f9) ias-ma
2

JGX!CU\fl2 CbI L9110

3
EXCLJ9UäG L9G

.1

0
.1685 .1 .ieao .1663
LOG uGULJ?. bGLcGuç 0Db U ffllq UGULJ? g bGLcGuç IIJ TOOT LGBLGeGUçIIJ
J6A6J2 O OLG11J pOLLOMJU }JU cTh!c9JJ? 916 UL jOL comJcL a eneçnr flIJGUJ-
bjoAur€uç t#e LI8IJJ jn&jf AOTUJG JJç6L62ç LUçGe MGLG q2LabcLr dIG pUzquu
2GCçOL JJJG CGIJ4LUJ pUuca jOLGI.IJ GXCJJBU6 L€26LA69 RGLG qGcJuu Uuq Uç

2UU16 911 GJGClOU-AGUL LJ26 !U bITpJ!C ebGUflIJ }JUq IAGUJCGUG OAGLUUJGJJ2

jCUJ boeiçiow EA61JcffUH swbcUc!ou GAUJ1TG pGC9'WG LLG22c!PIG


JJJG €qjjo JUU111TLUc!OU OU DP J Jf U2 oJJotAGq pX LI8JIJ qGAUJHU-
LJ1IJJOL8 2pULb jj iii UçGuwçjouUJ LG2GLAGV JyG UnpoL!c!Ge Uçç6wbçGq
jo €uq 2bGcnJUçJou OIJ woq€eç b€ao qGAUJnUcIOJJ o
ponç 12 bGLcGuç i'c u€'& BULIçX itw UccUcJcGq mm JGcflUç€J? 9irq JJG yGxi-

CUll OAGLIJWGU LGLGUG U UOU JJJG beo MGU wço LGG jj 2pULbr? JJIJJGL
!ucGLG8 Lç€e Gç oj prnsjai iJq cL6cflç CL88 IJq OL€U IUA€2çOLe b1ncJcGq
LGJT2!U 4O LGUIJIJCG GAGU 4G qoJJL-flUJcGq OOUO% c GXOLpJcUuc Ju4GLG2ç

LG2

r°'-' LOUJ 4}JG bceo2 coJJubG


LOL €xicu OA6LUWGU 8flCcGGqGq 113 b€eo qoJJL
Bc iç i192 fflJJG COIJA4LJC6 IJA62OL8 buc o iç JoIJ-ç€Lus
qouJ COWIJJIçUJGIJç 142 GXC}JB1JG LG 2 çJJG bo BbL€ciç6q ill
L€J uq IJOWJIJUJ !JJcGLG8c LØ4G2 LGWJJ6 P!P UJOUGçL? 1Tç}JOLIçJG2

tAGLG CGq &IçJJ U GAGL-MOL2GIIJU q1J6WW 2çuiJq pK €xcjmnr LBG uq


LJG O IUGLJU IU p€ IUUUJOU LUG1 N92 UJO g IUCfOL U WG bo r.€j 9bbLGcjvou bL!C6 Uuq
Mc1G LG4 RGLG 9LGGq OJJ 111 U GLJGU O bUtO% UWOU bL!A9€ BL!cG G4GL2 JUOL JTU!OIJ2 &uq
JJG OAGLUI1JGU4 pJ1 JJG OI74COWG Oj pi pULUiuhIJ ( mGJj 2 bO% IIJIIUf!OU) uou€pcJ
LGcçoq bLIAU;G GAUJITUJoIJ8 Oj W I!J1W°°q JJU4 cJJG OA€LUW6IJ monjq 2c!CJC p?k GXCJUU6-
i.c bLoIrne
OJGLG JJ6 q6bLG22U G6C2 O OAGLAJJWçJ0U Uq }1JJ IUçGLG2c L62 OL Lç
Gxb6ccçJou& L6bi1J 201116 2}JOLc-cGLW 1U8 IU onçbnç piiç 2CLqJC1U J0U-cGLW
JuucJou CLGqpflç? W JJG GUq WLJCGç 6XBGCçWOU8 oriç 10 G nçij€q
iu b62oe qGbLGciçiou ofrç p€ 5'L
jp€ bLGcGqu 2çoL?. qoGe uoç €xbjw Gxcç o pric !c qoG8
JAG bjrr2ip1G ccomç O rnJq6LJ?U Cfl2G2 M6 JJ eu?. UJOLG
0 4CJC2 epoLcJ?t
J GX]C02 UçJ-1UJçJOJJLA bOjiC?. pq p6cu 111016 CL6qpJ6 JU IJJG 6?62 o
WLJ6ç& pG 6A6U2 L6li J6XJCO JUço CL1212 UJ1JJ UGAGL JJAG oCcnLLGcç
b62oa LGJ 6XCJJJJ6 L4G IUOLG CO1UbGççAG 1Jq IJJçGLG2ç L462 J0li€L
IT6X1CO W RGJJ }JA6 OççGu p ucponç 4Ocp!U U JJ6 COt UçLX)2
ruJqGLJThJ 2CJ 2!ç1içJoU 2fr62çGq oA6LUuJ6IJç R2 !U2OJAGUc (ça q€pç-
cO-4}, Lç0 e pjoii o mJJ?. CLGqdIIOLçJJ?. OECD conucLJG2) jpor1p
JJ6 CO1U14L?2 2polc-cGLm qoJJL pOLLOtApJ uq 2}JLb J022 o ojcj LG2GLAG2 qq
IIJJG AnJu6LpJ6 O fldflq CL1212
JdJJG L6J GXC7U6 Lç q?uuic cmqGLJ?qu cJJG j,j€xIcu CLJ2I2 !2 uo rrrndnG
fIc2iqG OJ PThGL!1JJcOU& bLG-6X!24JIJ JUçOLT cffljGL6UçJJ2 YJ1 OiJj?. qrrjj?.
JcGL cjJG !wbo2!ou oj u L6 b6 !' c!1J16 LGJ bbL6cøc!ou oj qo-
W€2çIC CHLLGUCX !2 JrJ€JX o eb6cnJçJAG
E(TL6 2}JOM2 bs';çGLJJ2 L62GWPJ!IJ 6XICO2 OL 4J?k bOLffl9J IJq M6-
q€u buoL yJj€q LGCG1J JCGGb CJTLL61JCJG2 6XCflJ6 L68
b66q IJ2ç }JG G1T2CG UJLJ JcJ W6 E1A12 4}J6 J1L6 CflLL6UC?2
L6J 6XCJJU6 LG 32 qIJ€q 2 4}JG UOIJ&J COU2JI1UGL bL!cG JuqGx qJAJgGq p?. }JG
JJG qowGeçic CITLLGUC2. bLlcG o GIT2CJJ6 UJgLJC uq C6UJ1J?2 cou-
2JTUJGL bLIcG JuqGx (jyrr& IJ !UCLG2G !2 L6J bbLGC!!OU Uaç
JJJG U(ILG 2JJ0M2 Lq1TJ 11262 JU L6J 6XCJJU6 Lç€ OL 9JJ jOJTL CIILLGUC!6&
E!äI1LG 3

KG9I excpsuae L9162 sIue pe qenecpe WSLK


tOL tOflL E LObG9U CO11UL!G2

G9I I!L9IDIAI GXCIJSUäG L9G


Øn9LGL1

122

.13

J2

.4 •4

.1 0!!,Ja8:J
I I I I I I I I I I

.ieao:
I I I I
.1a63:5

EL'i2 CL!2!2
G9I eecnqo\DJ GXCIJSUaG L9G
OnSLIGLIA q949 Ja9-aat:5

.1•3

.1 ..J

ECfl bea EEI/\1 GUL.1

a.'

08
Ja9a:3 .ieao: Jaa+ I I I

EL'J2 CL!2!2
Kes be2esDlJJ excpsuae L9G
OnsiieLiA 9f9

.12

.13

I I I I I I I I
.jaao:
I

.J698: .1a98:2 .1a65:.I .1aa3:


+ +
EEVI eui1 EV2 CU2!2
KG9I (LOU9\DLAJ GXCpSUäG L9G
nsL1eLAqsfs aa:i -
03

038

0•5'f

ECfl beä
053
*
.1889:5 .1886:2 .J660

EVJ2 CU212
BJJ 2JJ11LB qGcJpJGe 1II24 1156L 4JJ6 EIAI2 CL!2!2 I1 ! J5JJ
COfIL2& JJ6LG ISO CG22} 0L L69J 11bbLaci11çiou bLGcsqG 1113 cjc y2
iioç€q 11pOA& 11 0AGLUUJG1J42 !UCGIJc!AG2 4O 11p11uqou pCGq LUG8 !11A0JAG 11ClOL8

0JJ6L 4JJ11U L611J t!11G2 OL LG11J 6XC11UG L11ç& 211CJ1 912 (J681L6 11391Uç11JIJ

OAGLIJWGIJ OJAGUC? 4O bLOb rib 4JJG p11uJciu 26COL OL 112 111 C026 O BL1c11I1J

bojçicjjA mthoJç11pjG L6q8Lpncoue O !JJCOIJJ€

j,.joqc o nqqGu cJc2 on jxq LJG2


OffL q2ca2aou O LOJG O IJJb6Lt6Cc 0AGLIJWGII4 cL6qpffl JJ 2bGCf1JfAG 9ç-
OG2 uoç OUG o cJsG!L woeç qL11uJ11çc G11çnL62: ou'
JucGLuçiou9J Iuc€LGec fljGLGU4J11J2 L!2G aJJ11LBJA ouj? .tAGGJC2 OL GAGIJ q112.2 pGjOLG

coJJb2G Ju woucp j€qiJ iib GbcGUJpGL J0 EVT2 C1ILLGJJCA CLJ2J2 oL


Gx11mbJ& JJGLG ti jççj !U !Uc€LG2c o au? iqcrj €ioou
iu GXCJJuG-LcG CLGqJpc LGq1pJJ14?t p€U qGç6TJOL11çG wGnL11pJ? oujX Ju
Jc€ yrrrrç (goao iJq aA6IJ201J i't)
11J12 LGdr1Guç JCJ( O €LJ?. IA11LIJJJ LGUJ!JJ2 eom€çpu o bnJG ECOUOW!C
WOGJ2 boiuç 1J11IJJGL O J111JJGUJ COL8 CIJ 1UCLGG JJ6 JJCGJiJJooq O
abcnjçu p? WJ(1IJ Cf1LLGIJC?. L6JiuIJJGuç IJJOL6 UççLCçTA& OL Gx11mbJ&
pp nuGmbJoAmGuç OL jgj 2poLç-çcuxr bnpJc q€pc B'c €xbjjuiu c'''
moi& qjjcrqç fIG 2bGcrII114!AG ou ;p€ pL!c?2JJ bonuq u 2GbcGwpsL
i12 1JO46 110A6 I}1GLG 11L6 9OWG ooq LG990U8 IJO1J6çp€JG82 IOL B6J1J cxCpu6 L114G
MpCIJ L6qnCJ1J JJJP 111 1110U JO LGqnCG IJJ6 LI2J( 0111 2b6c11J11ç1A6 1111CJC 21JCCG22J1J 2412piJi1141O1J2

05€U JJ9AG p660 J9IIIJCJJGq JIUqGL L664L!CçJ01J2 011 !UcGL0l0011J cvbjçj wopir; (r
p€ EV tJJ'°q iu 1412 U'f qGcuq6) JjJG IJ0q 0L UX!II JJG oflf2€ç o 2IP!Jc!0U 12 C9flG
rno dniou p? JJG LGCGU GxbGLrGuc 01 bGLf JJ1JJG JJOMiU 1412 6XCUG LG 0 b
LGqnc€q 7UJOU LOW 911 91J11J1J WIG 01 !" TOôO 0 0UJ J2 bGLCGUI 113
eonJq CGLiUJ?. JJAG 9J1CC66G pq !c 0CC11LLG !u yrrneç__eo p? qq eb6crrJçoLe

ELJA jojjotniu KLfl1U


o 1oçiou9J eb€csTJJAG
(jo) uq jjooq 'q GLPGL (jg OjGL u GxbJu1Jçiou o ecj€ ouq c!w!u
o paç iJoç o ycç 4JJ WGLG LG qJIJGLGJJ4JJ2 OçGIJ
U26 BpsLbJ?. oujX eJJOI4J?. 6OLG 4JJG ucccjc JVIJJGL WOqG2 2ffG2
LøqnJ pfTJqflb O UGLG2 qfljGLGuçJa yIJOçJJGL Iwq6c11wc? O JJG GgLJ?. woq6J&
tLOIIJ pocj uq GwbJLJc9J bGL2bGcçJAG cp boLçL U2C9I

!u2oJAGuc2. CGULJ couaçuç nc!uwcGJ JoLc€e puqouuiuc o


!pc€q GxcpmJ6 LçG BIT G 2JJOIAGq GLJ!GL OAGLUW6U OGU prnqou
GXCJJ1JG LG JOIJ P0L6 !U20IA6Uc !2 GAGU LGwoçGJ? IJ 12211G W WOeç C2G2
LGJ OAGLIJWGU jcjqu boccJ iiijj uJG-muqGqJ? 2npoLqwçs
mou€çQ. bojicA o xcpu€ L6
ot.€ LGCGUç 4GOL€8 swbp6 WG wboLçucG o GCOUOWJC rrnq1JJGuçe
pLoqJ?. cp bocGuc!J AnJuGLpTJic o pc€q LG LW6 cccJ.c
paç iIJcoLboLçG wrqçibpctç?s. O eJJOLç-LfflJ 6da!J!pL9 eo GX9Cç IJJJJJ
Oj 4}JG crnJ qGbGuq ou arrneboça (26& OL GxgUJbJ& pcjq j) w
moq€j C11LL6JJCK CL8€& JJJCG pJJJ LJ11J CJJ p€ 8GJ-YI1flflJ!JJ GAGIJ2 JU MpJCJJ
cJJ6 CL1218 Ic2GJt CLGG2 Gcouoi.uc bLG22rzLG mq€i JAJJ!CJJ 1JJG OA6LUUJGU CAG2
1U J,JTIç11LG L€2GLC W 211CC6G HJ bpsu!u qoiir UJOLG BLGc!2G1X o
abGcnJcJAG cccje MJç}JOIIç LGBOL GdllTJipL!f1UJ rnqGçGuInu9ciGa

ou-2cuque jxGq cxcp9uc Lc: U Guq9uGLcq bcc1c


CSIJLJ J62201.1 O 4}JG LGC6IJ E0b61 mq y\J6xicu GxbGuGucGe ! cpc !c p
pGcowG ucL6Ju?. qcnJc jOL COmJcL!Ge o prnjq L6bnççou cb!cJ u€q€q
o rziatazia a dauibsi bsxft sciarbxs .sai cisM aeiiicwo3 svarl bsiodal biarl bcia
rio1 o1 slam sai-sciacbxs sq sldibei3 'lrio ot rbtaw iisrl atio1s bsclain3
cia
d te*iam eicraasiq cii a wsI aab io cisvs .awod aA aelqmaxs 1o wollorl -snarbxs
slai atnsmJimrrlo3 slalircriua, 1i 111w smoDsd isvs isbiai1 ioI sd-billow aissq cxl
S3fflVflO3 ets*iam 1o iisrll .evloaei
ar{W cisc{t ai srlt isa b srll llama quoi lo siai-bsxfI asrthrnJo3 Mrkt svarf
bsanam o iascl ,bad -io bfova isdsola srLt eviakrDeq8 aaa 10 ec1t O@Qi
slir{w 11ila rnciialsi risqo IaJfqa3 IaJe*iam ldamilaeiq 8511 erLi 5)l cxl
nibnataisbnu lsrLfsrlW bsxfI asiai sIB 910111 LI&LI a 1a3ifs1Oecll ii1idiaaoq (Ii 9c{1
111911113 IaiDnarth .lfIsffffiOILVfIe
srLT isdcrmri lo bvil-no1 bsxfI snad3xs aslai llila riiniamsi cii sril bliow
abol al 'ldaAiamsi .Ilama eldaT alail srl asftlmo3 larll evarl '1aUOUh1iif1o3
bsciiafriiam bsxiI snarbX9 estal riirLliw) o±(abnad iol la Iaasl svfl 8IB9 as b
I
srujL QQ1 ier1isot riiiw srLt 3ci911U3 io) nenu (slaad srLl sq !tarIiaa
bria siLl ias riixf1 .nasd sdT qol quoi cii siLl sldal aniafnoo iojam asimorIoDs
riliw cisqo lafiqaD .ats*iam silT bclo3sa quoi 818181103 lo isv llama 85111111103 faiLt
isc{lis sq o1 10 98U sf11 bsliciU aslat iallob bits sill biirli quoi 218181103 b "isv
llama aeiltfWoD Jaril sq of io sau isillo £i.8513119r1u3
1110 eldat ai bsblrifai'ioD d
nblool Ia isriw asiIlduJo3 ob ton fariw scl1 .aa
ibua aidaiA iol slqmnxs afioqsi of sill lanoifanisinl 'ialsnoM bnifil ('IMI)
aiLtI eli iaIsnom tiiorl1ua amia of timil 'ti1idixsft iscllai usd1 lbiii .xfI lisH
cii sDiba1q silt noifaubjifi abnad lo sill la"Oi taniaa siLt iallob svad nssd ilsw

bsimlLoU esimonoo i811i 9u loisif nJnuo3 bnnuD ob Ofl SyBil boxil 5nB1IDx9
od-astsi ovad on onaibxs odT bluoda od bowoiv as niv81f boniol s Dn&11U3 noinu
no amiof ibkilw B6 modi on owiornioa molt onom noiioi3 nidtiw od .noinu oW obubni
ibua aoimoflo3o iii sldaT fno ioI .aeonolslqmoo
LVBE
COflLffIE2 JJ-IV.L HYAE YVIWLVI14ED FAXED EXCI-IVL4CE
IWLE2 LOff MAE AEVB Off IOffEJ

CLORb I: ]jOL GCOUOLUJ62 Mjçp Ob6IJ crbjç,j W9LJ642

?43SC 13t
puqa) (j puq)
Vn2LJB CGLWU IJJLJ 2GbrTô •U•
H0U K°' qojj or 1883 O 1083
rr1LLJpon GJIIJ LLJC 1012
4cçpGLJuq2 UJLJ AjLc J3
VLP! fl qOJj7L ALCJJ 1882 lflhIG IO8C
qoc ioao IAJLCP m

eLofib : UJJJ GCOUOUJJG2 bGju o 01. fl2jU fl qoJ9I.


pq aic
puq) (j puq)
yuçn flLIJ
BPgjj
flfl qojJr.
qojj
TO4
BpLgp, qoJJL iP i.o
fl qojj PIIA I2
1i1f1 T2
B6J 112 ciii IJ TO U
cq
D0W!U! fl qoj
112 qojji.
112 qoJJL
EGP I2
JU)
EGP TS2
J()t
jajuqa fl qojjrn. ioe
IAUCLOIJG2!I3 fl qoJJL
f1 OflL u rage
fl q1L T3
fl qojj J40A TÔ
fl qoJJL AI rae
2c A!cc i
112 qojjr.
fl qojjvL vi ie ioe
raie
flu!c1 VP EWL fl' qoJJL I1UG IJ JØ
CL0flb 3: 2IIWJI 6C0IJ0IIJj62 b6ju 40 01. I12jIJ UO1JOJJL CIILL6IICIG2

piUq2) (n poIJq2)
Juq1Ju LrJbGG
ynr.ju qojj
ropo oncp V1L!CU Luq
r!PGU2Gu3 2M122 IL&IJC T031 T8T
AOLTCO3 LLGUCJJ 1LIJC T2 J82
n2çLJiIJ q0jJJL
U AjLi1J03 JJiU JiL
onp 1ñLJcIu uq re
J/1AJJ13 vn2cLgJju qojjL
A" C1 I1J!' J!' T3O TôO

1JpG buoq 01 GXCp&1JG-L6 X!c? 1A6U ill }J6 0pJ6 OLG J01JG2 C0U1U110J12
bGLioq2 nuIJGLLnbçGq o flUG Jp6 xcjnq ConUL!G2 poç po,
U04 C01iiW10fl2J? jxq g 10LSJIJ GXCJflTIJgG L6 101. p6iL CflLL61JC? 9 JG02 OAGL IJJ6
bGLioq 11.0W JTOO T V"6 J2
VJ20 GxcJnqGq OL€ 0TJW0L ouq 26?CJ16JJ62
pcji b CflLLGIJCG2 MJfJJJU puq O JJ6 bccioj DLom1U }ç1p (euc€
jj, xJq jj LG2b6cJA6J? uq r!PGL! Lio A"' ouq 1g) Mplcp b€
cpG qoJJIlL yjj o Con uLiG2 AG cjoq cob!coJ UJLJC6ç2 jji€ opJ6
OLUi2 JgLG 1JJ1WGL 0 2GUJi-J1çOU0I1JOi12 2IG2 COJOIJJG& OL 6LLiçOL1 2nCJJ
9 1JflJJ 4p6 C'" J2J1Uq2 W6 LJflq I2J01 IP6 B!11
jajiiq uq niço jpco
jpijuq oqobçGq puq jor. pp-qojjoL Lo; u BUn0L?
1J0LLOM!11 JJ6 20W6M04 LO0GL puq poq woIJouq 2111C6
130 OUJG2C bb6L CJ1LL6UC? Iq IJJ6 GCOU0W? J12G2 0 L0L6!U
CnLLGUC) uq 4JJTh2 12 qoJJLisGq W1PGL JJIJ JJA!1J 4Lfl6 XGq GXCpIJG LçG
MpCJJ 12 01JJ1c16cJ ILOUJ IPG 1PI& J12 JJG ELGUCIJ LUC uuq 2IJ!2P
b€çw jç2 JCJ O g jocj CIILLGIJCA 2661132 4O O pCJC 9 2 T3.2 !AGIJ
UOLL cGqGq pG LIJJ4 4o qoW62çc COJDG lIT g
flLGJ uq O JJO1X
pwu pob
rocpo rnquq1 uq onçp fLJc VLG gjj bç o ;p€ 1çuq AOUGçLX
VL6 rocpo uq 2mJuq nq LiJq MJJ!JG cp€) bq o aonip
yLCW 2!UCG p6!i JuqGbGuqGucG qçG2 (j rniq jg) Lc2b6cczA61)) W
ne€q 4pGiL OMIT C11LLGIJCI62 MJJ!CJJ BLG bG6q gç bUL MçJJ IPG .&uq Jp€ aonp
jJouJ€jnq J20 n Luq
'!1P!' FI 011 qJG 04GL jioiq1 COmJcL!62 eJlCp 1LOcP tAjncp pOAG LGboLcGq o
C0JJ4!IJJT0112 x€q 6XCJJ0IJG L016 owpieç qoJJOL 0L 111016 XG0L2 016
IJoç pcjiiq€q GC0JT86 2LC €XCJJ0IJG C0ULOJ2 LGIJGL 1JJG!L 0JC10J GXCJJ0JJG L0462
1JJG0UJUJG28

JJJG 2cL!JrnJ COUCJIT2IOU L0W FPI6 12 OeIqG LOW 20W6 8III0JJ cOJTLIeIlJ
GCOIJOIJJI6& OJ 8p6JqOIu& oIJq ppJ? qGbGIJqGlJç buucibopçiG& !2 pcGLoJJ?.
oujX o pouqnj o COJ1IJcL!G2 iu uoLjq p0/.6 couc!urrocfeJA mouçou6q
pc€q GXCJJ01JG LOçG2 00fl3?4 cniK C11LLGUC). OL AG AGOL2 01 1110L6 flIJ0Lçff-
UOGJA iç 12 U04 GOCA GuGL0J!G opoiiç 'P°1 q2c rr!epG2 errccseenj pCGLe
0116 OAOfl2 q2cuccou 2 JJ0ç 0JJ O 4JG2G comJçLG2 016 LGJ0çAGJA eWojj ouq 2npol-
qIJoc6 4}J6IIJ8GJAG2 L04JJGL COOLIJ0G JJG WOIJGç0L? bopcA qcieioue
o J016 BOLçIJGL COfflJçLA JJJJG GçpGLJOUqe ouq V112cL!0 OL €xombj& a€ç
JuçGLGeç L0G2 iu AJLcITOJ jocjcaçsb IA4JJ QGLW0U2 pITIJqGepOIJJC 'f a€couq 0C0L
ou€ qJcnjc drrnirçiA 12 obb€oie G 0 2LOU bopçicoj cou-
e€uane ou bLJmoc?. o xq LOG cowimçiu€uç oiuou o boç€uçroj LrrJiu
or1b2 RJ4JJ1U GCJJ CofIIJ4L? juqa CJ1LLGUC? OL GxoIub1& poe LGLUO11JGJ x€q
qoJJL (tçpu puq2) wu). conb2 uq lu oAGLuw6uç
IJJ JJG26 qJjGLGuCG2 JOIJG pLqJ? 866111 GxbJu O!A Jou-2çuqpJ
UXGL8 iiirns€q AoJq JJG 2IICCG22!O1J O C11LLGUC?. pjoocic2 occrTLLGq U 4JJG

13JppJG JJB2 GG11 COu2cLnCl€q n2J1J JJ L€bOL401 J1JGLA1GJA8 MIJJ L0GL2 onq IJOUJA CX-
cjoi€ L0€ q040 ILOW UO110 U0SC0 % S1t% JJJG LG0€L jioiijq G M0L1JG J10MGAGL
4JJ0; MJJfl€ (AG OL€ Y!LJA couqcuf 4JJ0 110 WOIOL conuçi p ow1ccGq JAG mo? 0AG oJ€L-
joojicq 20111€ 11111101. CJILLGUCJG2 jpc qiiijciijç) 111 C0112LffC11J 211CJ7 0 40J€ Je 011€ Wfl2 CJJ€CJ
g COfl1JfL? U U24 CI1LLGIJC? 01. flUCJ3V1J!11 CJ1LL61JC? $2JGf UO 1112 }JG qoJjL
oL ;p€ bccj DL!IJ pp; M colmlq€L conuL) puuu pc€q !Aç}qU 11 5O pøuq i
jo qpLGuc€ p€ pip uq JOM Guq-o-won4p L4€ OA€L ;p€ njj b€uoq 12
9U Jf
'J T0O OUG 11LfJJGL UC410L 0bGLf1IJ !U 41JJGTL ,11A0L 12 41JJ41 p?. 4IJJG pGIuuiIJ
o bLG2Guf q€cq& €cp o corrUfLiG2 pq JLGq?. G2fpp2pGq AGLK pJJJ
qGLG6 0 CLGqpJ41A RJ41JJ j0LG!IJ GXCJJUG WLJcGf2 JJJJfl8 0L €ximbj& UfGLG2f
LfG2 JIJ 41 JIG 4641JJGLJUq2 91rq T1T241L JJ9'AG J0U GGII GX4ILGIUGIA CJO2G 410 QGLWBIJ

JGAGJ2 Juq1ccJu 0L€!IJ !UAG2cOL2 qo IJOf LGcTIT!LG 2112fIJfJ LGJJuuJGuc

btGwimu pojq ;pea CULL€uc!G2 j,GLp2b2 ii GU2!GL G2çpJ2JJ cLGqpJA


pCGq LG MJJGIJ Cbçj UJLJG2 EGLG 2pfloMGL uq LUOLS LGJTJ11G uq
J4 JJU2 pGCOWG WOLG qiCfIJç OJIJ JJG €XCIfI2!AG CJflp 0 C0JTIJ4L1G2
anccGGqGq nbboi.ç jOL JJ2 qG11 comae LOW uoçpGL !mbJTcUc!ou o jypj : qJ€
W910L COITIJçLIG2 2JTCCG82J1J HI LT1qJ? JXLI OAGL b LIAG ?GL2 9L€ pcjjA
4JJG 2111JJ6 01JG2 JJAG GGIJ JDJG 0 LIX C0U4HJfI0fT2J?. 0L b9eç
JJJG CL1çGLIOU 1126q IJ JpJG 2 dfIçG 24L1IJGIJI rnq iuq€€q GII UJ1OL
cormcLiGa uoç jç€q p11i6 bG6q iiçpu 8JJJcJ? L0GL 11IJ2 J0L OAGL IJAG XGL2
oaç IJ04pJG 18 4JJG bO2IçiOIJ 0j EV wGmpGL2 IJCG 'UfIL? 4JJG

GXCJJUG LçG O JJG GIJcP Luc 'q WLJC JJB2 2ç9AGq 0L CJJG woç
bLç içpiu po puq (jji€ Guq-o-mouçp cnLL6uc? LG !16 iia couc€j
2omapç JLGL qj Jf1ccfT11c!ou2) flJG coLLG2bouqu puq oL j.i11u
L9VC-1JJ11LJ LçG J20 !8 uq 0L D"2P JCLOIJG-UJ11LJC Lç& +2 MPc
12 LGWLJJG poiiç 4JJG2G GXCJ3UG L4G2 !2 qG2b4G LGJc!AGJ). auJJJ
C}J8IJG2 JJWG (20 pL) oJJoMGq EIAI UJOAG liG jJ11Cç1TçOU pouq u
ya nooq n ;o jpjc JjJ9Juq p b€q m!cp!u puq aow€mp pLO11qGL
cpvu f5O 8111CC JJJGLC VLG 8GACWf boeç-oLq pjrn j GxgwbJc2 ol ACLA Jou-J/q pccq
bvLTç p; uom qGnucç pn p€ AbcJJA oiiq p€rL 1ouGAA o 2bGcIJ CJLCflWUC
LOL Gxwb1& O4GGU IJG9 VU1CU H!0U2 ØLG I!u1cq IU g UJOUGçLA nurou pcq ou
GXCJThfl1G LU46 M14JJ 4JJG E,LGIJCJJ (L9IJC

LOW JJG LG IP1!PI P T&IW HO1A6L3


ØIJA 111

i
JJ /A9 WGJL CJ1LLGUCA ;pG ci.v u' q€ijncq
9nbboqoq bLioL
W€UCP IuunGucG o puc ouc mGwp€r.21 wc.o6couowjc boJJcJG
pA cucp
yiiiiaç J3 51JJ GLG TJIJqGL .thJJflG bG6q cJJ' JJ9LLOIAGL pUg2 J,JJ!8
J6U2 2rIbbOLc co OJ1L COUçGu0U cPc 1-V'JWr!" GJGW6IJ !U CffLLGUC? c142G2 CIJ
G'u ecT2çJIJpJG GxcpuG LG2 boj!c!cJJ? qjjcrqc muçIr
JJ}JIT 12 U0 (WLUGG JWç IJ O JJG IJJ1OL CJTLLGUCIG2 !U jypj€ li4JJ

LGUJIU bGGq lu aTçsu6 pqq


8OWG 0 jouaç cuqu jxq buçi
drnç€ A(1J1JGLJG uq corijq pG atAGbç in !UJ( ou Lc!cJG
qi E°1. €xiiibj& BGJfW2 q€pc 21IJ2 gç tocmq JO bGLcGuç o CDb cp€
pIJJGaç LO " OECD II BGI1J7IU 0AGLUWGJJc GJiGL qGcqG2 40 IUJG BLç
oj !c2 q€pç n rp°" ojjo (D62b!cG cpG jou€iç? o 6xcJJu6-
iç€ B'LLS1JGUJGUç pGctAGGu BGIfflJJ mq fflXGUJ0(1L JJ€L6 JJAG Gb2oqG2
LoflUq EIAI CL!262 !A}J€U 21JJJJ JJ6L€2 cffljGLGUIJ2 nb
cILLGIJCJ€2) Jyijuqe !ucL6!uIX p€u rnAoicq iu ?€u poNL
J0U Mifi Ic CJJOO2G LGçrnu !8 qoJJL puJ
oIjG boiuiu€uç 0L cçcjc p? Cf1LLGJJC? 1XJLJG2 J!uJ p€çr cp
H01I }(0U oiJc1 fl cfoffL& A}T!CJJ JJ2 pGGu 20fl 1AcJJIJ pvq 8IUCG
OCcOPGL H°' KOU YCG8 1mCGL4U !1 p20LpGq P CP!U
ou pTJ? J J Jj LGAGL2JOU !AJçJJ BL1fJIJ BGIlJU bLoun2Gq
BLG2GLAG HOUR J<0U2 €XJ2çIJJ GCOJJOIIJTC 2GIJJ OL jç2 ?6L2 1J€L j2
CJGLJ poGi€L qOWG2cc 01. GXGLIJJ q6J€obuJ6uce conjq jc€i CP!'-' bGLc6A€q
JIJçGLG2ç iu nbpojqJu !l8 €uq o pLqu
j€puicjj? HOUR KOU2 WOIJ6çL?. 224GW 12 CTILLGUCA poq p€q ou
fl qoJL ITIJqGL IAJCJJ GAGLX JJ-bO6L€q j.Jou Jou qoffs'L aafrGq a pcj€q
p? fl CffLLGUC? vc cJJG Guq O J3 HOUR K0U OLG!U GXC}JIJG
GLG pOAG 3 piJJiOU L JU 6XC622 uoç OUj?. O 4JJ€ wOuGçLA p2G ( p!JI!ou)
12111 IJ B11 røm OL HO11 J(OU 4JJ BG11JIJ bLownJcGq ! L6Lc€q y€ uouu-
LCLCUCG bLoIiJJG Ic jj IiWq€ 4! 111 I}JG UO-BL!f2JJ OUl D1!°11'
piiç GAGU Oj JAJJ 2 HG iii JpJ€ J poA& OiAGAGL 4JJG qI2çJUCcJOU pGçtAGGU
CIILLGIJCA poLq uq ocy€ xq 6XCJflflJG LG LGJWG2 2 uoç cJGL-crrç u
18 coiiiwoiJjA ynJA COffUL68 qo iioç JJ9AG CITLLGIJCA po11Lqa 9A6
GIJOITJJ LG2GLAG8 01, puq JTJJA }CJC IJ0UGLA p€e wç bL6AJJ1u Gxcp11us
LG2 JJJG dsi€eçiou 12 MpG4JJGL ci' AG M!JI O ITRG L€26LA62 q UGcG2211LA:
ICJC8 u€q iJOç p€ qGç€LLGq 1T1J1628 IJJG CJTLL6UC22 JQ3 b€LCGIIç pcjurJ pA LGUGLAGB
!2 JØØ bGLcGuç cLGqpJG
VIP' CP!' OA€L !U jj iç liJJJ 8J20 22J1WG njçiwç€ OtAU6L2JJJb oj
HOUR K0U32 OL€JIJ CfrLLG1JC?. L62GLA68 DG2bcG Jç bLoIi.rrUG uoç
HOJ.7 KOU €couom? ci1 onjq uoç JJJcGJ iiuç ;o !c2 qof1L?. edriuqGLGq
!" pççjiu eb€cnI11coLa JJJII& GAGII HOLJ KOJJ2 CITLL6UCA njçixuç€jA. corrjq yjy
11LJCG2 11L6 IA11LG OJ 4JJ2 bO22!p!J!c? 11uq 4}JG COfTUçL? JJ112 11JL€qA GxbGLJGucGq

ebGcnJ11çJAG cbJç11J ociç1;Jotia ou OCC112JOU uJo2ç L€c6uJA. Ju 11ufr11L?. Iö2 11T56L


24L O JGXJCU CLJ2J8J

jxcq L94G jG: 19LgG OIJG


LIJOLG GXipJG OtW OGXCJrnU6-LçG bt.oiq€ M pwJc C1TLL€UC?.
AoJc!J!c?. .MP!JG LGqrrcu 8f12c6bçpflç? 2bGcnJcJAG CJ
J36€L2 9L61J jJGG (Jg) iAG U JU46L;iu qcnou o1 ;JJG pJJb9C 01; 4G Töö
L91J2J;JO1J 011 HOUR }(OIJ2 CIILL€UCA 2A2I6UJ JJJG IIILA J22lfl on 011 VL UlJ119 !AJJJCJJ COJJJIJJGIJCGq
qoJJL JJIJJC JJ jyj bGLGGIJ IOLCJU 6XCJJ%f1J6 pcjciii Oj cJJC p926 JU VbL!J JJ yLGIJ 119
11101.6 mç€uo 8b9cnLJAG bLceim V6L 4JJ6 (GXrcU CLJ22 4JJVU q?q H0U K° psi; 4}JG b€o
pc€q LUG p 2nLAIACq (nuj ;rnc oLiLu) mp jyj nbboi.ç j morp wcu ornu
conuA cu UA0Jq q n.€ qGAJnou mpJJG 2JWJ1JUU jocç2 pA ruepçniu COWWGLCJUJ
bopci€ ncjJ e u !wboL x mcp nçp u GxboLç npeq? z.€uiug nq pi bjoA
JU OcP T5 PL1U!U por1 UU GIjGCAG q6/2J119IOJJ o pc beo
o'- coumJouJ?-q8cneaGq JçGLuçIAG ou BbbLocp rn çp
LGU AGL2JOU O pG E0bG OIJGçWLX 2?8cGUY JjJ026 M0 bLGsL
x€q LG8 L(IG JJç 0UG8 LGI1CG obboLçnuJçi€ 0L ou€-ii G2 JU24
CGUçLJ pgUJc NJJIJG 2!JJ LITJJU OJT GX4LGIUG GXC}IUG LcG pTCçffTOU2 J,OLGOAGL

JIJAG2ç0L2 €xbscç iUçGLAGIJç!OU JA}JGIJGAGL GXC}JUG LG LGC}JG8 nbb6L


JoIA€L GqG2 oJ !c2 puq ous q6JAGLe gi qqq pGUGc p? eçp1JIIu uçr.-
puq UJOAGUJGUç8 bLG211111PJ puq !A 4JJG ITcJJOLIç1G8 UJOLG 2cob€ joL
cçJAG ne€ o IuoUGLX bojic?. RLGU iç 12 UJO2 IJGGqGq GIJJ7IJCIIJ OAGL-

JJ cLGqipTJJ 0 CommicuJ€uc GXCJJUG LcG UJGCJJUI8UJ jy€ç SOUG2


iioJTJq bbGL bLoi9qG ooq bLcçIcJ JUCG pGct!GGu 2GGWIIJ cjo2
O 6XIpJG L4G2 IJq 1J36 84L!ICJCGc o pcGq
JLGç OUG2 8ITUGL LOUJ CL!bbJ!U qLMpcJ JJOIIGAGL fljJGLG2 tiAJqG puq
w boaçbou€ qø O LGCJCOUU 011 tAJJ!CIJ GXCJJIJG LG COUJ6 mJqGL
Ic qo€e uoç Bo2çbouG oLGA€L p€u ouGe pOI1IJqLIG2 L€ LGcpGq
wuuJu pw u yc€ oj abGcrrJc!AG BLG22I1LG bLG2Guç2 9jJ bLopj€w2 o
pc€q xcpuG Lç pJqG6q qcruu OU EVI BL!IU 2bu
uuq b0LflJ RLGLG jJ oLc€q ofrc O 0UG2 J IAlqG ]1J brnJJ
iiq bOLflJ qGAffJnGq fflJGL bLG22frLG piqu LGLGG puqa !fkqG
xco GxbGLIGucG epoth2 po GAGU v Gxbuqu OUG cu coJJb2G rrç i
GG2 o ou€ jcj cLGqpJJc? cp liiJJ qo JG28 O 2çøppG NcJJu-puq
WOAGW6U uq u.w2 GAGZJ qG8cpiJG cjiur
i'qq 20W6 pJflGbLpJç8 OL OUG& ancp a ou€ 2J.cGçcpGq p? jiJjwm8ou
(T) GUAJ2IOU LGrc!AGJ2. tLGdffGIJ (çpoLTp emj) cpu !u
bLoboeiJe qo uoç AJGIA JJ6 OIJG B IJCOL pciç LJJGL 2 qGAiCG OL
T!UJ1!IJ 2JJOLc-çGLW GXCJJ1JG LG AOJçiJiç?. B 2 epLb qpTur-cw woi€-
IJJGIJ4 IU L6J GXCIJJG LçG2 flUGL bG o pnGbLuc JJO/!GAGL c€ç OUG
uiA p€ jiççj€ IJJOLG JJU bjc€po qjij€r.ju lu bL1ucbj6 GLOW trA
LçG oujA pç Jç €cçe mjc€ç beAcpojoV
x€q GxcpiJ€ L€2 L€4 ou€e ciJ u br.uc!bJ& G mq€ 11101€ CLGgTpJ€
JJLOH}J pJJGLJ OL W1TJçIJ€LJ COObGLc!OU ye jiiAe uA coueçLJuçe boe€q
pA JCJ O OL€!JJ-CJTLL6UCA L62GLt€2 qebbGL tAJJGU C€UçLJ pup coobGLçG
mnçnj iç€ L€ç2 fl0R€AGL 2WG !ucGuc!AG bLopJGuIe
pGq6Afl HU!J€LI €XCJJIJG Lç€ b€e (LGrrJL 01 pc€) imbj?. bLcçicJ Jimiçe
cp€ o coobGLio1r pcuçIoirnj cooLquuçrou cu u bLiucbJG 8bL6q
p€ bju o u2. qinaçI11€uçe WOUGçL?. bojic? pnç iu bLcçJc€ Ic ic
O€U qJjcJTJc 2LOL1 CITLLGIJC? bLçuGL combloune€ ice qow€eçic oe
einjcucj? u bb€iY OL €xgujbj& cp EY couninça JJ
40 HU11JJ4€q 111 €GIJ2G O JJ€ LG€q bLiçiGe HOMGA€L GW118
B1qGepUJC pcq p?k ILIJ OA6LIJUJ€IJç }J2 IJç6LbL€çGq !c °PI!c!°"
0UJ?k IIJçGLAGJJçIOIJ2 ru iu€.ti qo uoç cpLG6u ice bLJuJ6 opiGccii.€
oj Joti qouJ€2ic !ucrow
aom€ biçtjje o coobGLç1A€ m 1J€UIJCG O JXGq 6XCJJU€ L€ COIJJIJJ-
IJJ6JJ L€ 0J20 rrç€q p? J I161}J€L
cornJcLi€ p qGdrrnG Ju24içiiioJJj C0IJ2çLJ1Jç2 011 OAGLJJ rnuciou coob-
6LØ4!0U CIJ CçIWJ L€qrrc6 uc-LqJciou CLGqipJ7ç7 uq jq 4° JJJJ€L uj&çou
(2G6 gooj J0cr)
1OçJC& JIrnJJ JJ6L6 LG J!UJ2 4O JJON jL flJ?k 011€ ripe€ç o C0JI4G2
cu o iu iU2JTJJIJ Low 9jGC2 o tç€a
9 6XCJJUG L€2 CLO22 JJG LG2 O tAoLJq LG P MOLJ O UJ1J
UOciIJ LG2 COJT11JçL? CIJ JX c iJJOç OJJG C11LL6UC? OL p2JGç O CI1LLGJJCIG&
IJq 1JJfT2 iu L62ç

5e
.V 9flT 91IBfI3X9 sisi Iii u3Jsuom 3ifoq
II en8fbx9 a1 asq io ano 918 3iiam91do1q I8dw rier{i 5rL svitairiella
18108111 'iiidih913 bnui e1daarw 1qqua-eriom b9qx9 2noi 918
88 wol -113839

Iait m9Ido1q a r1iaimo1q rbnolqqa ot rtiwbi thod rioitafini bna enarbx5 atai
ithta!ov 81 ot 1no191 3iPa9mob isnorn iloq .anothufLath A siaI bna thwoi
swaietiI 8t85LJ8 BrLf nivar1 a 1I9(1LIlfl8 n9br1sq3br1i 1itn )!nad (till -b1o338
IIL ot V1581103 $V '1B9flo(r1 3ifoq a3lqiDLlflq 1183 aitim rioitafini vtiJid1b913
8m9Ido1q 'd319r1I rth9woJ ac1arIoitafini .Bnoita33qxs ievO r{ aaq svfi ias a
l9drrIun lo asi1tmioD ftroiiuoii{ r1 bliow 9vari bsqoba anaiiav lo airli r13ao1qqa
nibu1Dni IaPI $Df181'I BbaIIaD 9Iif1D bria wM '.bnaIas
9h1{W a 3fl8V lo Iarioijiitni 39dDaoiqqa am sd eIdiaaoq sdt natioqmi
(108851 o sd b5rrxa9I ff1011 erLt b5xfI &fI8fI3X5 581 5311311$qx9 a farLI 1118iJ 118
eaaa 931-xq as a Iaritrnon ier1eriw—iorbuia Ji ed sr1 snaibX9 &Pai fIB asisini
$IB1 0(1fIi8Lf 893I1 10 stht ,bo,ia 8L—9*IBffl '19V .oifameldoiq saaA aeohq IISD
ed Iemeixe evthaiisa o rI1(Ia({3 :anoilabeqxe nifqmsa of xfl ed ef181{3X9
etai iii 9({ 5381 10 eidalov anoi1aDeqxe ns basl o1 1)11w anozaiv ru aeietrit
aBI brui 89V15891 brI8 19t8mLJ.IJ o ailotisa asiiiiqiri ru 3iloq 81.vi1idib913
SiOmIsr1UJ'J en&bxe astai brioqasi ot 'iaIsriomriori 88 IIsw aa viatsiiorii a10I3B1
1)118 rnwo11a a bssq 311811DX9 etai ot 5at3Lb 'iaeriom D11oq (183 eMvaia
oeE' f1ooJL .(8eI) 11q bsa inilledaT (OQ1) baa 818Wif (1) euia twit thvi
sift iusbneqebni 1aiIiieo )1118d b988d-eVitIlSOfll ai081t11o3 1183 9V$iIfZ)8 118 115V9 isttsd eonalacf
lo wol noitafini bna lamliqo .noiiailidBta 1aohiqrnL ioqqua iol i eu sonaJ-Ioqmi b lalino3
)Inad sonsbneqebxii 81 asvi d Bni83IA bria aiemmu (COI) narnisiifu3 ($OO1) baa illiiD
o,abnsbeaM baa inillsdaT (!O!) noma .aisdio insia (8O1) uia twit asbeoiiwf Iaiinso
ifnad eonebn9qsbafbeqisifbne sift Iaoiaab nasqoina anoitaRniisqdtuodiiw ufiuf iiiqtuo .898801
11oo.H8'(tS8eI) awouiB ttail riitqmetta Ot 9811 i2&19t01 9i81 at9W1Bt oi us9308(1 ilidibeio1183
sd 9viioubo1q1sinuoD nibasl ot ioufid isdiai audi iewol muiidiliupe .noiiaflni
1U2çpiJiç?. 6J26/A}JGL€ JU 4JJG €couow?
FLGc1U c}JG GXCUG LçG 12 2OUJGc!UJGC CITGCçGq 2 u IcGLLrc!A6
JX1L1 UO1JJiUJ GXCJJUG LçG flUOLçrTUçGJ? LGJ GXCJJUG LG
2JJLG2 IIflJIJ?. oj bLopJGwe O jx€q UOLUUJ LçG& GCIT2G JU JJG 2JJOL Lf1U
L€J uq IJOIJJUJ GXC}JIJG LçG LUOAGIIJGU8 OGU LG A!Lc11fl?
OLGOA€L LGJ GXCJJUG L6 cLGc!u OG2 !!ccJ bLoAiqG uoiiqu UCJJOL
OL mo1JGçL1. boJ!c? e 4JJG 1TcIJOL!c!6e W G j€q iiçomcjj?.
gu?. qomGeclc 1ujjcoUQ. bLGeenLGe pLiu ponç LGJ cnLLGuc?
gbbLGcjoou (2G& tOL €xgmbj& qwe uq CLO2 iQ)
u 6XCJJflJG tç€ b€ ic riujqc€j? cLGqpflc? uq i cLGqppc?
bLopJGwa iu€ iç qicnjc b€ Lç€ qiL€cJ? qoe iç ofloRL
GXCJJ1JG LG2 eponjq i1JoLGq U 2GlU moUGçLA bojic? CI6LJ cp€ IJ2lA€L
12 IJ& 2JUCG GXCJJJJ6 LçG—J!J(6 JJ6 JIJcGLGCc L€—12 IJ iWbOLcIJc GCOUOUJ1C

iuqicçoL jy€ JuçGthLGççiou O €XCJIJG LG WOAGWG1J2 12 couJbJGx JJO/AGA6L


uq iio liiaç GCI18G epoLc-cGLw AO OGU cjorrqe cJJG LOJG O JTUq€LJ?qU
yiuqmGucJe
01J6 bobnJL LITJG O 4pnUJp OL !IJcGLbLGc!U GXCJJUG LçG UJOA6WGU2 €mbp-

268 mboLçucG o JL6 qGAcoue LOUJ brrLcp2u bot!GL bLiç? (bbb)—


eiçrwçioue IIJ tAJJICp CmJJnJc!J6 GXCJJUG LG C1JIJG2 2JJLbJ? cpj6L JLOm cfmJ1iJ-
4JAG C}JUG2 111 LGJAG bLCG J6A6J2 yccoLqu 4}J12 AJG1A 2ffp2Uç1J bbLG-
cçiou o LGgJ Lç€ rccombu€q p? ajo onçbnç oçp imuep€e
bU \CL C2G OL LGJBX11J IJJOUGfL'A bojic2. /pij€ AIGIA 12 IJOç COIJJ-
bJGçGJ tiJçJJoiTç ''c !c ! imboLçuç LGCO1J1G GAGU LU MOLJ O JGXipJG
bLcGe JJGL6 cu p€ enpaciJcj q€BLç1TLG2 LOW bBb 4JJ6 2pOLç Lnu GAGU

OAGL qGcqG2 LOL GXUJbJ& COffIJçL? MJç}J U JP IJJ pGçNGG1J

bLoqncçAiç?. oiiçp 'U ice rnJq uouçLqpJG ooqe eGccoLe MJJ


GXbGLTGUC6 V L126 111 }J6 LGJVçIAG bLICG O IJOIJLVG oOq& VIJq VU VBBL6CIVc!OU
O ice -pV2Gq LGVj GXCJJVIJG LVcGIa VbB1y J!JJ1CJJ }7V2 qGCVqGC O

cGbçJouVJJA p1p 8GCçOL bLoqucçJAç?. LoAçpa bLoAiq€e CVIJOJJICVJ

HJn2cLVc!OU O 6UGC4 yIJ? VççGWb 4O ff26 bIDb V8 V 11G 40 WOUGçVLX bojic?


!UcGLJGIJ4!Ou 111112c VjjOI OL bLoqncçi -peGq bbb qGAVcou2
yUOcJJGL bobrrjVl LJIJG O pmIJp 12 V2G Oil JJG bLGun2G JVLG Vuq 2fT2çVIJGq
C11LLGIJ VCCOLTIJ qGcç8 COIJ24J1G CJGVL GAGUCG O VU OAGLAVJJTGq LGVJ GXCJJVJJG

LV46 HoGAGLa V IJuTUJ6L 0j jVCcOLa—OL GxVUJBJ& V pVjVuCGq-pnqGç

JIJCLGV2G III OA6LIJTJJGU 2bGuqIJ OH e!uJujcVuGorreI? ftOL2GU JG


CJTLLGIJ VCCO1T1J VIJq jOMGL JJS LGVJ GXCJJVUG LV4€ JJJITT2 12 IJO
Ju6Ai4VpJG COLLGJVc!OU pGçliaGGU CITLL6U VCCO11U2 VUq GdrnJipL!r1m GXCVIJG LVç€2

JJJG LJ1ç}J 12 uo wbj€ GXC}JVIJG LVG LIIJG CVII e1p2ççrr4€ OL p1u bojicA
ou VII €xbjiciç VIJq LGJIVpJG moqj 0j UJgCLOGCOUOUJ?a V moqj cpc 2 L!JJIJ?a
qjjccjç p'jq o' mn'eç JJVA& V UJ!U!UJfflJJa V 2L1ICflLVJ uoq€j
6ucouJbV22pJ onçbnç WGLG8 LVG2 bLcG2 a
a

CITLLG1J VCCO1TU4 V2 liGJJ V2 iUoLmVçiOu Oil LGJVcJAG AVLIVUCG2 O }JG IJJVIIJ

2JJOC JJVç pii€ç GCOUOUA DG2bcG L€CGIJ 4}JGOL€4CVJ VAVUCG2 IIJ !IJGLVç1IJ
6XCV1JG LVG Vuq CrFLLGIJc-VCCOmJç qLwurc8 (oi €xVuJbJ& pcjq uuq ooja
o BLVCc!CVI bLopJGw9 LGIJJV!U GOLG 2JTCJJ V UJOGJ CVU Guc!L6J?.
2nbbJVuç mbj& piiç oç€u usbJ!2Tca C11LLGIJ ccorrnç Vuq VbbLoVcpG2

1UçGLBLGç1IJ GXCJJVIJG LV462

IbEOL V ICJ12JU O pJ2 LG2flJc JCUOmU B 4}JG BVJVRV-2VW11GJ2OIJ cGC 2CC ELOO VUq OOj
(ro2)
8 COUC1I1OI12

JJJJG C}JOJCG pGçMGGU ixq uq UGXJPJG €XCJJ91JG LGB }J2 JO1J 6GIJ OUG 1JJO2
nuqm€ucj aen€e iu UçGIJJçOUJ ijirnic€ (ec& GxIIwbJ& nuqGJJ mei y¼jcg-
1JUOIJ ie q KGUGU ioea) jor. woç CO11TJçLG }JOIGA6L
pGç.thGGU xq uq GxipJ6 71 621JJJA pGCOW1U wooç y2qG
LOW g UIIUOL GcououqG& oj epGJqow& uq pGIqJA qGb6uqGuç bL!uc!-
bpçi€ oujA ir.A eujj uiimp€i o jxq €XCIJG LG2 pi€ 2flUIGq jJG b2ç
2€AGLJ A€L8 Juçcç cc'- bobnJL &2qOUJ jx€q LG2 UOLILWJA L6
G2IpJ& OL W024 COIflJcL!62 CIJ G2JA W112GL LG2OITLCG2 IJGGqGq

piTA pcjc cJJG!L UJOUGçLA p2G2 HOMGAGL iirç Jopj cbiçj WLJG2
WIJJIA IJA BGJUJG8€2 JU CO11U4LA2 COUJWIçUJGIJc jx€q LG uq JGAG JçJG
LOOUJ OL UJU6JTAGL JJJJG LGC61J IJJOA6 JG28 VS44JA muq aA2ç€IJJ& 2ITCJJ
cJJG +12 BGLCGIJç pJJq8 oL EIt'12 CnLL€UC!G2 pGjb? wuA pA bo2cbou!u jJ€ qA
O LGCJ(OIJHJ JiI4JGU 4}J€ €qGe O }JG puq LG LGCJJGq OJJCG JJbbGIJ&
bLopJGm2 LG ps 2JJ6 jx€q LçG
ou cbçj pi bLobo26q poçp pA aoius iijJo AOL
pc€q GXCJJ1JG LçGe IJJOIJ iUqn2çLrnJ COrnJ4L1G& 2 liGJJ 2 pA 20W6 NJJO p€JJGAG

COU4LOJ2 CIJ LGqJTc€ 4}J6 AOJçJçA o jjorçiiJ LG2 pn pcj cjocj


pA L6iUIUIJ Cbçj WLJG LG2çLICçIOU2 J2 JIJ(GJA iwboes 2rurcuç coç ou
NoLJq GCOUOUJA IAJJ ncci boalc!Aa Gj6Cç EAe!OU JJ2 GCOLUG UJfICJJ G2!GL 2
4GLUIOLWJ GCOIJOUJIC uJçLq6bGuqGucG p2 LORLIJ ! uo CJGL bi€-
2mubiou uCLG92€q coeç iiujj €qrrc AoJçpçA OU€ uq GI1!U
(T2) OjGL 6mbiLicJ GluqGJJcG I}'4 2cocJ-bL!CG AoIl!J!cX qo uo jj IA!c}J }J}JGL
Lgu2CçiOu C02ç2 }JJGL L)Ju o qJ8COnLG }JLOJTT}J 4X62
L0L g LGCGIJ qJCn221OIJ 2GG C9LP6L 1Jq J9?JOL (ra)
LGI1J9çOL8 c9u €ujrnucG 2c9piJic? p?. bLowoçJu 9 JO9J OA€L2}Jc JL9U GROLJ IAJcJnJJ
u}J!Cp 1}JG J12G O qGLiA94iAG2 OL p€qu CJ1LLGIJC?. LI2J.C2 C9U 29GIX Gxb9uq
y LO9 L9IJG o Gmb!Lc9I 24f1qG2 211G2ç2 O9J O LGJ1CIJ qouJ€2çc
1UjJ9çiOU uq JUe9pJç?. C911262 C9U p€ 9qGq }JLf1 92C L9OLUJ o qo-
m€c wouGçuL)k boj!cA u2çIçncou2 JJJGLG 9LG C92G& 211C]J 92 9 liLoLJq-IAqG eçocj
uJ9LJ'6ç CL92JJ OL 9 2IT2ç9U6q 2JJ9Lb 9JJ rn JO9J onçbnç !u picp 9u !ucGLu9cou9JJ?
coocpuçq wouGç9L?. LGebou2G C9U p€ 9bbLobLi9çG GAGU i W12ç9JCG

bLGenmG IIJ9c obçiuJj bopcA cooLqruou JmbjiG2 GxcJJ9uG-L9G 2c9pjJiiow


opc? 9frcpoL!!G2 9J€ p L12Jc b!u c}JG!L cL€qppc? ou A9Li9pJG C9U
iu2c9uçJ?k 9uq qL9m9Jc9JJ?. LGHGcc ap!ic!u €xbGcç9çiou2 porrc jfT11LG GAGJJ42

IIGGLGUCG2

'
[ii yq''- CP9LJG& LcJ D9U!GJ CLO& JJ C0Udfl€Ifl O H69J EXC1J9LJG }'94€
JnJ OL Juu9cou: ou IJJITT2cL9c!AG Ex9uthJce uosc ioun
€bç€mp
[] JG2U9 JpGLO 9IJq 91LGUCG if IIUJGL2 CGUcL9J fl9UJ JLJqGbGIJqGucG
9JJ II[9CLOGCOUO1U!C b6I1OLUJ9UCG 'otusc o\
AI9? J03 1211@5

{i] B9LLO J{Op€Lc y 9JJ B C°'q°'- y JOJçiA6 JjJGOL? O JAJOUGc9L?.


b0J!C Ill 9 M9cJTL9J 9ç6 JAjOqG 4 coosV yrrna
228-eTo•

[i1 BGGL& Dq J JJJOUJ92 9L€Uç 9uq /1J M9II9C6 bGC1Tj9OIJ2 9poslc


bcrijçou 99!IJ2ç cPG H' K0 D0JI9L JJJOUJ92 T BL€Uç tO-
iS io&r 14€m JoLJ: H9LbGL jçoii bb jj-
[i B'-'-° Yl!C}7GI O&S \C\!O&2 O\ Ob co-
bCU flUiAGL21ç? JUçGLIJçJOIJJ IUUCG 2GCIOIJ !U IUcGLU
E!UUCG MO• J3 'flIJG Th01

Eel CI'° CH!IJGLW0 V O' }' LUWG CccA o obcrniJ bopcX lu ou-
6çL? ECOJJOUJ? vco3sowcuc& J,OA6mpGL jg ' jjj-j
[1 CI'° C1HJ ° 'q CLJO V AJ-' EXCP IJG-JçG fl26 gpJJJ2g-
JTUGL IuJbGLGcc cq!p!J!c p HP111'I EL!2CP IJq yJJqLG2 JoLoccGL
62 ouqou: ioa
[1 VJX Y
co&i mpL!q VTLL bLG22 J5
[} D°"P'J-' grrqrGL uq j€)uqLo M6wGL 6xico: 9OLW
uq o oiiçp ooss os vcosonc css j:j 2-J2
[io] Eq°" HI! ' 3 o\ -'cnsy ' u.s?\
bLJUCGcOU flInAGL2Jç? Juc€LuJOu9-J EiuIJcG 26c-
b€cjj bbGL2 IJJ JuçGLJrncJouJ ECOUOW!C2 J40 J ITJ?

EU] E!J'J'J BLL? \o.


L MU2PWOU DC BLooJJua pJcicnçiou Th0•

Ei1 Eiq HopGL b uq bGcGL itr CLPGL CoJIb2!U EXCPU-JçG }GJm€2:


OW€ fru€t ExwbJG& osurc o €uorn cosowc f1fJ24 mr
L3 i-i:•

[j} },LOOç }(GUUGJJ uq KGUUGc}J J'OO bGL2bGCl!AG2 °" JDJDb rnq pOii-
8ITU B'J ffçG p CIJ Yl C°''-' uq gGIJIJGcJJ €qe
o\ COOZC% A0J yIIJcGLqIJJ 4oLcJJ-oJJIJq

[J] Lp€L BGGL vr -iq re E 0 2A6U0U LP5 Ob6L!0U uq C0JJb26


o jJxGq XCUG J4 '' I" Q6115 yj Lo2euJ1r IJq g€iiçp
sqe %ooç o\ i uwsouc co&oc A0J ymecGLqw: MOLcP-
ll°JJq
[121 CLPGL b€c6L uq JLJ( } J2JOL uq U MJJGSJ8 O EOLGiU
EXCPUG [/\JLJ(cç2: y 2cGbcicJ Mc 'COUOUC \OS'VUS 'UITL?
Jb2I80

Ire] CLHJ PJ4cOL!O D°114'° JJq jypsjpin joJJcJ uq


ouGçL?k juçiçnçioua uq bflPfl E!uuc!J bol!c!62 u juqaçj
4LJ€2 COUOC iocV TOT

[J] ojqçsiu YT0LLJ& uq D'qq co&sc js&.-


\% bLO%bcC% cwq OC\ J2JJJJçOIJ DC: pJçsL-
uccJouJ IOU€1L?. hJTJJq TOô'V

[] H"-' r- uq flU2 fluqpsL JJJG JJUU JJG 1AGqi}J


KLOU !'° CnL JC? 2AGL!G2 JfW2PIJJ( yLpGç2LbbOLc o g ybL!j

Em] '1OUG2 CPLJG& bTI flIJ jLu2CfIOU C022 mJq bLIcs AoJcJJJc?:
IUGUC6 LOW C0m!!0IJ D6LGJTJØOU W!WGO bL!IJC€4OU flU!A6L2A D
bLm€uç O ECOUOm!C2 I2

[50] KGJJ€U bGGL if JJIJG 1P6OI o obc!m1T1u yLG8: yn EcIc!c


P' }OGL4 1f nuqjj uq JGXIJGL K iopoq Gcf io&\
OçS% 4 c!O COOk CP!° flu!AGL2!cA o
bL2 ie bI ti-eo
[ST] LflIJJIJ B'J W Ajoq6 O BJiJcG-O-hWGUca CL!G2 OtUS! 4
VffI1 Th U
[] EA'" E uq Eq"'q C JLGeCOçç JTIJG8 }GL JJpLI
IPG JUC011278426UCA o 0bçimvj bJU2 \oi'us 4 cosoisV 'pluG
w
[] CJQIJUOLT joujq J Obc!mfl111 CflLLGUC L62 UCfl OC
sc aGbGwpGL me
[] rIuqGJJ }{OpGLç JjJGOL? o obc!urnw CflLLGUC LG2 \uccfls
osoc bCGwpGL jj
[21 pçGJq yJ1TLCG EJOlP EXCPUG JVçG2: EXbGL!GUCG uuq bLo2bGcc2
o cooic 5:Jg @0-2O
[se] OpJq YITL!C& JJG fOC O CnLLGUCX CL!2G2 L%
(udn€ qG WUIJC& bL!2) T0f 4?

[1 opci.iq TtIL! uq K'-'P ftEXCPIG ffcG D! H"q'


ousc o\ pu J2 i eteeo
[8] b6L22OU LOL2c€U Uq niqo JYP6!1!U DG2 LI!U Iuac!cnc!0u2 OL OU64L?
2cpJc2, Coisc '€ oas swc bocV jpjj m
23iV
[] }OOJ KGUUGc}1 C'- PGLU!0UVJ JOUGLA bOJ!C C0ObGLVc!oU P6 C0
OIUU 4 s1o cooscz io jg
5T
[ao] ffOOU. JJ1G Obc!WJ O cow11cm6Uc O VU
OIJG4L'X JpLGJ OUSt o\ COOc I4OAGIJJPGL

[j] gOe& yJJqLGIA K q E 0 A€U22OU EflL0bGU EXC}JU6 ff€ Cq!-


P!J!I pGOLG JJG JJj S.ObW COO&1SC TIJ6 Jf J1g2-15JQ
[J LGIJ jPou T LPG O EOITL B' PJUc!02 P' }OpGLç E HIJ
€q nq 'cw CP!° fllJA6L2Jç? O CP!° bL€ bb

[2:] 2A€IJ22OIJ r'- E O EPq EXCPUG jç€a GIJ2 bLICG


MP M6 uJ€q LObflS eosoic yjA

[] JJaJJ bpiuj Cl° OL cc'i BI.1IGL2 L.VCcw COSOC


JLCJJ J2 %' I2O-Je
[2] MIJJ1IJ2OU 'OJJIJ XCJJ1J6 }ççG JGUJ€IJç COOYSC OUS 'loll-
I-Th

You might also like