Číslo 29 - Advent 2015

)$51Ì/,67<
$'9(17
DGUHVD9VHWtQ+RUQt0ďVWR
WHO
HPDLOIDYVHWLQ#DGRF]
ZHEZZZIDUQRVWYVHWLQF]IDUQRVWYDODVVNDSRODQNDF]
%ĩ+ÿ/29Ď.$0,/265'(1679Ì
0LOtSĢiWHOpYGREďNG\StåXW\WRĢiGN\MH(YURSDDVQtFHOìVYďWRWĢHVHQ
QRYRX YOQRX QiVLOt NWHUp VH SURMHYLOR SĢL WHURULVWLFNpP ~WRNX Y3DĢtçL YSiWHN
PLQXOpKRWìGQHOLVWRSDGX&KWďQHFKWďW\WRXGiORVWLRYOLYěXMtLQiVNWHĢtMVPH
MHQ Y]GiOHQìPL SR]RURYDWHOL ]PDWNX VWUDFKX D REDY\ R EXGRXFQRVW RE\YDWHO
)UDQFLH 2YOLYěXMt QiV VGďORYDFt SURVWĢHGN\ UĪ]Qp NDPSDQď NWHUp E\ FKWďO\
ÅY\ĀLVWLW(YURSX´DGRQLFKçVHçHO]DSRMXMtLĀHOQtSROLWLFLQDåt]HPď9tFHPpQď
MGRX W\WR QiODG\ MHGQtP VPďUHP KOHGDW D XNi]DW QD REďWQtKR EHUiQND R]QDĀLW
]GURM QDåLFK SUREOpPĪ D ]DWRĀLW VQLPL NROHNWLYQtP ]SĪVREHP QHKOHGtFH QD
RVREQt ]DYLQďQt -H WR MHGQRGXFKì PHFKDQLVPXV NWHUì VH YQiV ĀDV RG ĀDVX
SUREXGt QDMtW YLQtN\ ÅREďWRYDW´ QďMDNpKR åNĪGFH MHKRç REYLQtPH KODYQď
DE\FKRP P\ VDPL QHPXVHOL SĢHPìåOHW QDG VHERX SĢtSDGQď OLWRYDW VYpKR
]DYLQďQt 7DNRYì PHFKDQLVPXV IXQJXMH X GďWt
XGRVStYDMtFtFKDOHERKXçHOREĀDVVHGRVWiYi
NHVORYXLXGRVSďOìFKOLGt«
-DNR NĢHVĨDQp PĪçHPH ĢtFW MHGQR MHGHQ
MHGLQì REďWQt EHUiQHN .ULVWXV MLç QD VHEH
MHGQRX SUR YçG\ YLQ\ FHOpKR OLGVWYD Y]DO $
Y]DOMHSURWRDE\FKRPXçQHPXVHOLKOHGDWGDOåt
YLQtN\DE\FKRPQHPXVHOLGďOLWOLGLQDSĢiWHOHD
QHSĢiWHOH DĨ SRGOH ]HPď SĪYRGX
QiERçHQVNpKR SĢHVYďGĀHQt ĀL SRGOH MLQìFK
NULWpULt 7RWR MH RQD YHOLNRVW .ULVWRYD çLYRWD D
-HKRREďWLSURQiVDE\FKRPVHXçQHPXVHOLEiW
-1-
DE\FKRPQHPďOLVWUDFKSURWRçHVWUDFKVWRMtQDSRĀiWNXQHMLVWìFKDNUiWNR]UDNìFK
UR]KRGQXWtDW\]DVHYHGRXNåtĢHQt]OD1HQtQH]DMtPDYpVOHGRYDWVHVPXWNHPY
VUGFL MDN MLVWp SURXG\ YQDåt VSROHĀQRVWL MGRX SUiYď WRXWR FHVWRX UR]GPìFKiQt
VWUDFKXQHMLVWRW\REDY\
.ULVWXV MHGQRX SURYçG\ ĢHNO Å1D]YDO MVHP YiV SĢiWHOL´ -DQ .WRPXWRFR-HçtåĢtNiP\PXVtPHĀDVWRGRUĪVWDWSURMtWMHåWďNXVFHVW\$NWRPX
SRWĢHEXMHPHRGYDKXRGYDKXNWHUiMHRSDNHPVWUDFKXRGYDKXNWHUi]QiVXGďOi
RQXÅVĪO]HPďDVYďWORVYďWD´RĀHPç-HçtåYHYDQJHOLXPOXYt9WRPVSRĀtYiQDåH
VYRERGD NWHURX QďNG\ RPH]XMHPH MHQ QD WR ÅGďODW VL FR FKFL«´ $E\FK E\O
VSUiYQď SRFKRSHQ QHMGH PL WX R QďMDNp ODFLQp PRUDOL]RYiQt NWHUp QďNG\
VOìFKiPH D QďNG\ L WURFKX ODFLQď RĀHNiYiPH RG FtUNYH MGH WX R PQRKHP YtF
9MHGQRPVWDURNĢHVĨDQVNpPVSLVXVWRMtQiVOHGXMtFtYďWDÅ.ĢHVĨDQpSRGStUDMtVYďW´
&R E\ VH WDN DVL ]PďQLOR NG\E\FKRP GRNi]DOL Y]tW WDWR VORYD YiçQď YQDåHP
çLYRWď =QDPHQDOR E\ WR XYďGRPLW VL MDNì SRWHQFLiO VPďUHP NH VYďWX D OLGVWYX
PiPH D KODYQď WDNp FR VH RG QiV RĀHNiYi 3RPRKOL E\FKRP P\ DOHVSRě
QHSDWUQď P\ VDPL WRPX DE\ OLGp SĢHVWDOL YQtPDW NĢHVĨDQVWYt D FtUNHY MDNR QďFR
QHPRGHUQtKR D ]DVWDUDOpKR D PtVWR WRKR DE\FKRP VH P\ VWDOL WďPL NGR WYRĢt
GďMLQ\ SRNURN SUDYp OLGVWYt YçG\Ĩ MVPH E\OL SRYROiQL NçLYRWX ÅN REUD]X
%RçtPX´²WHG\%RKD6WYRĢLWHOH
'R GQĪ QDGFKi]HMtFtKR QRYpKR OLWXUJLFNpKR URNX NWHUì ]DĀQHPH DGYHQWQtQHGďOtSĢLFKi]tSR]YiQtSDSHçH)UDQWLåND]DKiMLWMXELOHMQtURN%RçtKR
PLORVUGHQVWYt 7HG\ SURçtYDW ÅFHOìP VYìP VUGFHP GXåt P\VOt D FHORX VYRX
VLORX´ 0N %Rçt EOt]NRVW DOH WDNp VDPL VH VWiW WďPL NGR PLORVUGHQVWYt
SURMHYXMt'RPQtYiPVHçHVRXĀDVQìSDSHç)UDQWLåHNEXGHSROHWHFKSĢLSRPtQiQ
SURVWďDMHGQRGXåHSUiYďMDNRÅWHQNGRĀDVWRPOXYLORPLORVUGHQVWYt´$MHWRPX
WDN PLORVUGHQVWYt MH MDNRXVL QRYRX ÅYOQRYRX GpONRX´ QD QLç VH QiV VQDçt SDSHç
QDODGLW%ìWPLORVUGQt]QDPHQiEìWÅPLOpKRVUGFH´VUGFHNWHUpVHQHY\Y\åXMHD
NWHUpGRNiçHRGSXVWLW$OHPLORVUGHQVWYtMHYĪEHF]YOiåWQtPMHGQiQtPSURWRçHVH
YçG\ Y]WDKXMH NQďMDNpPX MHGQiQt QHMVHP PLORVUGQì MHQ WDN DQLç E\FK QLF
QHXGďODO« SUYQt NURN MH YçG\ QD PQď Y\çDGXMH SR]RUQRVW Y\çDGXMH XPďQt
UR]OLåRYDW NG\ MHQD PtVWď VSUDYHGOQRVWD NG\ PLORVUGHQVWYt QXWt ĀORYďND KOHGďW
QH QD VYĪM çLYRW DOH QD RNROt QD GUXKp MH SR]YiQtP NXYďGRPďQt VL VODERVWL
YODVWQtLGUXKìFKOLGtDOHMHWDNpRQRXYODVWQRVWtNWHUiQHPĪçHEìWRPH]HQDMHQQD
YODVWQt RNROt URGLQX FtUNHY« SURWRçH QiV RWHYtUi YåHP 0LORVUGHQVWYt QiP
SRVN\WXMHQRYì]UDNNWHUìMH]GUDYďMåtSUDYGLYďMåtDEOLçåtSRKOHGX%RçtPX %XĊPH SURWR RGYiçQt D QHERMPH VH EìW PLORVUGQt WDWR YODVWQRVW QHQt
VODERVWt DOH VLORX D EOLçåtP VSRMHQtP V%RKHP VWtP NWHUì ĢtNi QiP YåHP
Å1D]YDOMVHPYiVSĢiWHOL´
3-RVHI0LNXOiåHNġtP
-2-
32=9É1.<1$/,6723$'3526,1(&
96(7Ì1 $'9(171Ì '8&+291Ì 2%129$ 0/É'(æ(
Y\VWĢtGi WUDGLĀQt Å6,/9(675296.e 7Ðÿ2´ 2EQRYX SRYHGH
SRSXOiUQtWHRORJ37K'U9RMWďFK.RGHW2&DUP
352*5$0 3É7(. 0ä( 69$7É SĢHGQiåND32.8ä(1Ì'1(ä1Ì+269Ď7$$'25$&(
62%27$'8&+291Ì2%129$93&
$'9(171Ì9,*,/,(0ä(69$7É
1('Ď/(0ä(69$7e$
32/$1.$ 9,*,/,( =$ 32ÿ$7ë /,'6.ë æ,927 NH NWHUp QiV SUDYLGHOQď
]YDO Xç SDSHç %HQHGLNW ;9, =DĀiWHN DVL
Y Y 3RODQFH SĢL HXFKDULVWLFNp DGRUDFL
EXGHPH GďNRYDW ]D YWďOHQt %RçtKR 6\QD
NWHUìGiYiNDçGpPXOLGVNpPXçLYRWXSUDYì
VP\VO D GĪVWRMQRVW D WDNp EXGH SURVLW R
RFKUDQX NDçGp OLGVNp E\WRVWL SRYRODQp
NçLYRWX 96(7Ì1 32/$1.$ 32='Ď&+29 EXGH ]DKiMHQ
SURVLQFH 6YDWìP 2WFHP )UDQWLåNHP EXGH Y\KOiåHQì
52.0,/265'(1679Ì 32/$1.$'8&+291Ì2%129$V3/9(0(/,Éä(0
7pPDÿ/29Ď.+ġÌ&+0$5,$RGSURVLQFHIDUQt
NRVWHO 1DUR]HQt VY -DQD .ĢWLWHOH D IDUQt NOXERYQD UiQR D YHĀHU
VWHMQp SĢHGQiåN\ ]SRYďĊ UiQR L RGSROHGQH 8GďOHMWH VL SURVtP
ĀDV
• 7XWRQHGďOLOLVWRSDGX]DĀQHPH$'9(17DQRYìFtUNHYQt
URN $GYHQW MH WĢHED SURçtYDW VYQLWĢQt XVHEUDQRVWt D WRXKRX SR
.ULVWX 2EOtEHQìP V\PEROHP YSĢHGYiQRĀQtP ĀDVH MH DGYHQWQt
YďQHF NWHUì QHPi FK\EďW YçiGQp URGLQď 9\UiEďW MH EXGHPH
YSiWHNOLVWRSDGXRG3ĢLQHGďOQtFKERKRVOXçEiFK
YďQFHSRçHKQiPH3ĢLQHVWHVLMHSĢHGROWiĢ
• GUXçHQt äDQFHSDQt 0JU .XELFRYp 0LURVODY\ EXGH SURGiYDW
9iQRĀQt KYď]G\ Y QHGďOL OLVWRSDGX SĢHG D SR
ERKRVOXçEiFK YFKRGEď X NRVWHOD NRVWHOD ² SRGSRĢtWH
2QNRORJLFNpGďWVNpFHQWUXPYH)12/2028&
-3-
• 525É7< EXGRX YH 9VHWtQď Ô7 ÿ7 62 D Y3RODQFH 32 67 3É RG NGH
GďWL SĪMGRX YSUĪYRGX VODPSLĀNDPL 9 SUR Qď EXGH SĢLFK\VWDQi VQtGDQď
Y3&LY3RODQFHQDIDĢH
• $GYHQWQt PåH VY QD KDVLĀFH Y /XçQp SURVLQFH Y SR Qt Y
Y]SRPtQND QD )LODGHOILL URGLQD .XQGHURYi EHVHGD
VSURPtWiQtP
• 6HWNiQt )$$32ä72/É78 YìFKRGQtKR 9DODåVND RG YH
9DODåVNpP0H]LĢtĀtYHGHSUHVLGHQW33DYHO'RNOiGDO
• -DNR NDçGì URN WDN L OHWRV EXGX PtW ÅFHVWX NROHP 9VHWtQD D
3RODQN\´ 7ďåtP VH QD QDåH VSROHĀQp VHWNiQt YH ĀWYUWHN SURVLQFH
Y3RODQFHYDSiWHNSRPåLVYDWpSURGďWLSURVLQFH
9iå0LNXOiå
• SiWHNRGYìVWDY162Y.RUXQNDD.ĢtçRYiFHVWD]DNRQĀHQt
D VY SRçHKQiQt PåH VY 632/(ÿ1ë 3591Ì 3É7(.
32/$1.$632/(ÿ1ë3591Ì3É7(.
• VRERWX RG ]SRYďĊ D VSROHĀQi PRGOLWED UDGRVWQpKR EROHVWQpKR D
VODYQpKR UĪçHQFH PåH VYDWi D ]DVYďFHQt URGLQ 1HSRVNYUQďQpPX 6UGFL
3DQQ\0DULH32/$1.$PåHVYVSROHĀQiPRGOLWED6YUĪçHQFH
• 3ĢLPåLVYDWpOLVWRSDGXYY\VWRXSt6ERU$9(SĢL$*.URPďĢtç
NRQFHUW$9(Y3RODQFHYPåHVYY3R]GďFKRYďEXGHPLPRĢiGQďY
• &KDULWD9VHWtQ'HQQtVWDFLRQiĢSURVHQLRU\9iV]YHQDSUH]HQWDFLYìURENĪ
XçLYDWHOĪVRFLiOQtFKVOXçHE'HQQtKRVWDFLRQiĢHSURVHQLRU\NWHUìVHEXGHNRQDW
YQHGďOLSURVLQFHRGGRYNRVWHOH1DQHEHY]HWt3DQQ\0DULH
9VHWtQ )LQDQĀQt SURVWĢHGN\ NWHUp YďQXMHWH SRĢt]HQtP QDEt]HQìFK YìURENĪ
EXGRXSRXçLW\QDQiNXSPDWHULiOXSURDNWLYL]DĀQtĀLQQRVWLVXçLYDWHOLVRFLiOQtFK
VOXçHEY'HQQtPVWDFLRQiĢLSURVHQLRU\&KDULW\
• 6YiWRVWQHPRFQìFKEXGHPHXGďORYDWVSROHĀQďRQHGďOLDGYHQWQt3RODQNDD
3R]GďFKRY R QHGďOL DGYHQWQt SĢL YåHFK ERKRVOXçEiFK 3ĢLVWRXSLW PĪçH
NDçGì NGR GRYUåLO YďNX OHW D VWDUåt D QHER YåLFKQL PODGåt NWHĢt MVRX YOLYHP
QHPRFL YWUYDOpP RKURçHQt çLYRWD . SĢLMHWt VYiWRVWL MH QXWQì
VWDY PLORVWL SĢLMHWt VYiWRVWL VPtĢHQt =SRYtGi VH NDçGì GHQ SĪO
KRGLQ\ SĢHGH Påt VYDWRX D QD SiWHN D • 9 ~WHUì SURVLQFH EXGH VODYQRVW 3DQQ\ 0DULH SRĀDWp
EH] SRVNYUQ\ SUYRWQtKR KĢtFKX &tUNHYQď ]DVYďFHQì VYiWHN
0åH VYDWp EXGRX Y NDSOH VY5ĪçHQ\ D YHĀHU
Y 3R YHĀHUQt PåL VYDWp Y Y\MGHPH YSUĪYRGX
-4-
N0DULiQVNpPX VORXSX QD +RUQtP 0ďVWď NGH EXGH X VRFK\ ,00$&8/$7<
]DVYďFHQt IDUQRVWL D PďVWD 3DQQď 0DULL 1HSRVNYUQďQp 9H]PďWH VL ĀHUYHQp
NDOtåN\3R]GďFKRY3RODQND
• =8ä 96(7Ì1 D 1HPRFQLFH 9VHWtQ ]YRX QD $'9(171Ì .2&(57 Y QHGďOL
SURVLQFHYY.DSOLVY5ĪçHQ\
• 3RNXG PiWH GRPD 1(02&1e NWHĢt E\ XYtWDOL QiYåWďYX NQď]H VQtP VH
SRPRGOLOLDSĢLMDOLVYiWRVWLQDKODVWHMHYVDNULVWLLQHERQDIDĢHD]NUDMHWìGQHRG
SURVLQFH MH QDYåWtYtPH PLPR W\ NWHUp SUDYLGHOQď QDYåWďYXMHPH 3ODWtLSUR3RODQNXD3R]GďFKRY
• 9HONì~NOLGNRVWHODEXGHYSRQGďOtSURVLQFHRG
• 6SROHĀQiYiQRĀQt]SRYďĊEXGHRQHGďOLDGYHQWQtSURVLQFHRG
SĢLMĊWH GR %XGH ]SRYtGDW GHYďW NQďçt 93RODQFH NQďçt YVRERWX
SURVLQFH RG SĢLMĊWH GR 3URVtPH Y\XçLMWH WďFKWR
SĢtOHçLWRVWt =SRYtGi VH WDNp SĢHG NDçGRX Påt VYDWRX 1HQHFKiYHMWH ]SRYďĊ QD
SRVOHGQtFKYtOL2GäWďGUpKRGQHVHXç]SRYtGDWQHEXGH
• 9H ĀWYUWHN QD äWďGUì GHQ EXGH YH
9VHWtQď L 3RODQFH Y YiQRĀQt PåH
SUR URGLQ\ VGďWPL YH YiQRĀQt
PåH VYDWi SĢHGHYåtP SUR VHQLRU\
YNDSOL VY5ĪçHQ\ D Y3R]GďFKRYď
9H YiQRĀQt KRGLQN\ ]SďY\
VUGHĀQď ]YHPH W\ NWHĢt VL FKWďMt
]D]StYDWNROHG\9HEXGHÅSĪOQRĀQt´2äWďGUpPGQXLQD%RçtKRGEXGH
VEtUNDQDQiåNRVWHOPiPHGOXKQD$29VHWtQ3RODQND9åHP
GiUFĪPXSĢtPQp3iQ%ĪK]DSODĨ
• 9 SiWHN QD %Rçt KRG YiQRĀQt SURVLQFH EXGRX ERKRVOXçE\ Y D 2GSROHGQHYHSRERçQRVWXMHVOLĀHN
• 9VRERWX QD VYiWHN VY äWďSiQD EXGRX ERKRVOXçE\
YD
• 9 QHGďOL QD 6YiWHN 6YDWp 5RGLQ\ PDQçHOp REQRYt PDQçHOVNp
VOLE\EXĊWHSURVtPVSROX
• .RQFHUW 36 621(736 '92ġÉ. YQHGďOL
SURVLQFH Y YH IDUQtP NRVWHOH
YHĀHUQtPåHVYDWiY
• &RXQWU\ 9iQRFH NDSHO\ *\PSOHĢL D SĢiWHO
YSRQGďOt SURVLQFH Y YH IDUQtP
NRVWHOH
• ÿWYUWHN SURVLQFH PåH VYDWi QD
SRGďNRYiQt ]D SĢLMDWi GREURGLQt VH ]SUiYRX R çLYRWď IDUQRVWL ]D URN Y3RODQND3R]GďFKRY
-5-
9129e0&Ì5.(91Ì052&(129ë32ġ$'
%2+26/8æ%<5RUiW\QDYtFY32/$1&(32673É9VHWtQURUiW\
QHGďOH SRQGďOt
~WHUì
VWĢHGD
ĀWYUWHN
SiWHN
VRERWD
96(7Ì1
1.
32/$1.$
1.
32='Ď&+29
ĀWYUWHN
SiWHN
VRERWD
=329Ì'É1Ì
QHGďOH SRQGďOt ~WHUì VWĢHGD
1.
96(7Ì1
1.
SĢHG3É
3+RĢiN
32/$1.$
32='Ď&+29
3É9(ÿ(5
1(%8'(
32'Ď.29É1Ì
9åHPNWHĢtSRPRKOLSĢLVRERWQt]DYDåLSRPRFDRFKRWXGtN\
SI
7ġÌ.5É/29e .2/('29É1Ì EXGH SUREtKDW
RGOHGQD3ĢLKOiåN\SURYHGRXFtVNXSLQHN
L NROHGQtN\ MVRX QD VWROH Y]DGX X QiVWďQHN 9\SOQďQp
SĢLKOiåN\ RGHY]GHMWH YQiERçHQVWYt QHER QD &KDULWď
VHWNiQt NROHGQtNĪ D YHGRXFtFK VNXSLQHN YVRERWX
SURVLQFHYSR525É7(&+QDVQtGDQLY3&
7,31$35É='1,1<
.DSODQ -RVHI 0,.8/Éä(. QDEt]t VSROHĀQì SRE\W SUR URGLQ\ ]QDåLFK
IDUQRVWt QD 6SLåVNp .DSLWXOH QD 6ORYHQVNX 3ĢHGEďçQì
WHUPtQMHVUSHQNRQNUpWQtGDWXPEXGHXSĢHVQďQR
MHVWOLçHEXGHWHPtWY\URGLQ\QDåLFKIDUQRVWtRWDNRYRX
IRUPX VSROHĀQpKR VWUiYHQt QďNROLND GQĪ ]iMHP
3RSĢHPìåOHMWHRWpWRPRçQRVWLYtFLQIRUPDFtROHWRåQtFK
9iQRFtFK SRNXG SĢHPìåOtWH R~ĀDVWL MLç WHĊ QDSLåWH QD
PDLOMRVHIPLNXODVHN#JPDLOFRP
-6-
52.0,/265'(1679Ì
27(9ġ(1Ì69$7ë&+%5$1YRORPRXFNpDUFLGLHFp]L
2ORPRXFNDWHGUiODVY9iFODYD
QHGďOH DGYHQWQt SURVLQFH ]DKiMHQt Y Y
NRVWHOH 3DQQ\ 0DULH 6QďçQp QiVOHGXMH SUĪYRG GR
NDWHGUiO\VY9iFODYDNGHEXGHRWHYĢHQD6YDWiEUiQD
6YDWì+RVWìQ
ÿWYUWHN SURVLQFH SĢL PåL VYDWp QD SĢHORPX
VWDUpKRD1RYpKRURNX
9HOHKUDG
QHGďOH OHGQD SĢL SRXWL N 3DQQď 0DULL 0DWFH
MHGQRW\NĢHVĨDQĪ
/2*2 6YDWpKR URNX MH GtOHP RWFH 0 , 5XSQLND NWHUp SĢHGVWDYXMH WHRORJLFNì
VRXKUQSRMPXPLORVUGHQVWYtDRGPRWWDNWHUpKRGRSURYi]t0RWWRMHçMHSĢHY]DWR
] /XNiåRYD HYDQJHOLD Å0LORVUGQt MDNR 2WHF´ /N SĢHGNOiGi SURçtYiQt
PLORVUGHQVWYt SRGOH SĢtNODGX 2WFH MHQç Y\çDGXMH DE\FKRP QHSRVX]RYDOL D
QHRGVX]RYDOLDOHDE\FKRPRGSRXåWďOLDOiVNXLRGSXåWďQtGDURYDOLEH]PtU\VURY
/N-HWRREUD]NWHUìMHYHOPLGUDKìVWDURYďNpFtUNYLQHERĨ]Qi]RUěXMH
.ULVWRYX OiVNX ]DYUåXMtFt WDMHPVWYt MHKR YWďOHQt Y\NRXSHQtP 3ĢHGVWDYXMH 6\QD
%RçtKR MHQç EHUH QD VYi UDPHQD ]EORXGLOpKR ĀORYďND 9\REUD]HQt MH SURYHGHQR
WDNçHQHFKiYiY\VWRXSLW'REUpKRSDVWìĢHMDNVHYKORXELGRWìNiOLGVNpKRWďODD
ĀLQt WDN V OiVNRX NWHUi ĀORYďNX PďQt çLYRW 1HPĪçH GiOH XQLNQRXW MHGHQ GHWDLO
'REUì SDVWìĢ V NUDMQtP PLORVUGHQVWYtP QD VHEH EHUH OLGVWYt DOH MHKR RĀL VH
SUROtQDMt V RĀLPD ĀORYďND .ULVWXV VH GtYi SRKOHGHP $GDPRYìP D $GDP
SRKOHGHP .ULVWRYìP .DçGì ĀORYďN WDN Y .ULVWX RGNUìYi VYp OLGVWYt D
EXGRXFQRVWMHçKRRĀHNiYi9\REUD]HQtMHXPtVWďQRXYQLWĢPDQGRUO\YHYìWYDUQpP
XPďQt DXUHROD ĀL VYDWR]iĢ NWHUi REHStQi FHORX SRVWDYX NWHUi MH WDNp GUDKi
VWDURYďNpLVWĢHGRYďNpLNRQRJUDILLSĢLSRPtQiçHY.ULVWXMVRXVSROHĀQďSĢtWRPQ\
REďSĢLUR]HQRVWLERçVNiLOLGVNi7ĢLVRXVWĢHGQpRYiO\YEDUYiFKNWHUpVHVPďUHP
N YQďMåNX SRVWXSQď UR]MDVěXMtQD]QDĀXMt.ULVWRYR MHGQiQt MtPç Y\YiGt ĀORYďND]
QRFL KĢtFKX D VPUWL = GUXKp VWUDQ\ KORXEND EDUY\ V WHPQďMåtP RGVWtQHP ]DVH
SĢLSRPtQiQHSURQLNQXWHOQRVW2WFRY\OiVN\NWHUiRGSRXåWtYåHFKQR
9EXOHNWHURX6YDWìRWHF-XELOHXPY\KOiVLOSĢLSRPtQiª=QRYXDQDOpKDYďNODGHPH
GR VWĢHGX VYiWRVW VPtĢHQt DE\ QiP GRYROLOD GRWNQRXW VH YODVWQt UXNRX YHOLNRVWL
PLORVUGHQVWYt 3UR NDçGpKR SHQLWHQWD EXGH SUDYìP ]GURMHP YQLWĢQtKR SRNRMH© 1HO]H
SĢHNURĀLW SUiK MXELOHMQt 6YDWp EUiQ\ DQLç E\FKRP SĢHGWtP SURåOL ]SRYďGQLFt ªVYDWRX
EUiQRX GXåH© QHY\ĀHUSDWHOQìP ]GURMHP RGSXåWďQt D SRNRMH .G\ç YďĢtFt SĢLVWXSXMH NH
VYiWRVWLVPtĢHQtSRNDçGpYODVWQďQDSOěXMHSRXĨ]YOiåWQt]QDPHQt6YDWpKRURNXXYQLWĢ
VOLWRYQpKR 2WFRYD VUGFH QDYUDFt VH GR GRPX 2WFH NWHUì QiV YçG\ QH~QDYQď RĀHNiYi
Y\FKi]t QiP YVWĢtF DE\ QiP RGSXVWLO D XVSRĢiGDO RVODYX QD SRĀHVW QiYUDWX N çLYRWX Y
PLORVWLYSOQRVWLHYDQJHOLD´
-7-
'2&(/$2%<ÿ(-1ë7$%/(7
9MHGQp WĢtGď QiERçHQVWYt QD , VWXSQL PďO\ GďWL QDPDORYDW Å.G\ MVHP
GRPD QHMUDGďML´ 'Yď QDPDORYDO\ WDEOHW $VL YHOPL GREUi SRPĪFND QD GUXKRX
VWUDQXWDNpQHEH]SHĀQi-HPRçQpEìWKRQOLQH
1DVRFLiOQtFKVtWtFKMHYGQHåQtGREďEďçQpVOHGRYDWNDçGRGHQQtçLYRWQHMHQ
FHOHEULW DOH L KYď]G ILOPĪ SUR GRVSďOp $ GtN\ WDEOHWĪP FK\WUìP WHOHIRQĪP L
SĢHQRVQìPSRĀtWDĀĪPMHWDNNG\VLSHĀOLYďVWĢHçHQìREVDKSURGRVSďOpSĢtVWXSQìL
GďWHP
9MHGQRP ĀOiQNX 3RUQRJUDILH PDQLSXOXMH V çLYRW\ QiFWLOHWìFK GtYHN DXWRUND
(PD SĢLSRPtQi Y GQHåQt GREď MVRX ZHERYp VWUiQN\ V WDNRYìP REVDKHP
QH]DEH]SHĀHQp D EďçQď GRVWXSQp SR KRGLQ 1DEt]t QHRPH]HQì SĢtVWXS SUR
YåHFKQ\ YĀHWQď GďWt 1HGiYQp Yì]NXP\ XNi]DO\ çH GďWL ]DĀtQDMt W\WR VWUiQN\
REMHYRYDWXçYHVYìFKOHWHFK
9H VWHMQpP YďNX ]DĀtQDMt FKODSFL D GtYN\ QD LQWHUQHWX Y\KOHGiYDW NOtĀRYi
VORYDVSRMHQiVHWRXWRWpPDWLNRXRYåHPSRX]HLQIRUPDĀQďQHçSURMHMLFKDSOLNDFL
YSUD[L
1iVOHGN\VXUIRYiQtSRLQWHUQHWXDY\KOHGiYiQtDVOHGRYiQtSRUQRJUDILHQD
LQWHUQHWX PRKRX ]iVDGQď RYOLYQLW SV\FKLNX GRVStYDMtFtFK GďWt 2QD YLGHD PDMt
WRWLçYďWåLQRXMHGQRVSROHĀQpXND]XMtMHGQRVWUDQQìPXçVNìSRKOHGQDVH[XDOLWX
7R DOH QHQt NRQHĀQì GĪVOHGHN VOHGRYiQt GQHåQt JHQHUDFH PODGìFK GtYHN VH
WDNRYìPLYLGHLLQVSLUXMHDYQtPiMHMDNRNDULpUQtSRUDGHQVWYt
$XWRUND WDNp XSR]RUěXMH QD RSDWĢHQt NWHUp ]DĀDO\ GďODW SďWLKYď]GLĀNRYp KRWHO\
MDNR +LOWRQ 0DUULRWW D GDOåt 7\ GRNRQFH ]DNi]DO\ QD VYìFK SRNRMtFK NDQiO\
VWRXWR WpPDWLNRX 7\WR YHONp ĢHWď]FH WDN GR VYďWD Y\VODO\ MDVQRX ]SUiYX
SRUQRJUDILHQHQtVRXĀiVWtMHMLFKVOXçHE
Å6WYRĢ PL ĀLVWp VUGFH SDVWRUDĀQt RGSRYďĊ QD SRUQRJUDILLµ GRNXPHQW
SRGWtPWRQi]YHPYOLVWRSDGXVFKYiOLOD%LVNXSVNiNRQIHUHQFH6SRMHQìFK
VWiWĪDPHULFNìFK-HGQiVHRSUYQtSDVWRUDĀQtUHDNFLVHYHURDPHULFNpKRHSLVNRSiWX
QD H[LVWHQFL ´KĢtåQpKR SUĪP\VOXµ NWHUì YH 6SRMHQìFK VWiWHFK URĀQď Y\GďOiYi
PLOLDUG\ GRODUĪ 'RNXPHQW SĢLSUDYLOD .RPLVH SUR ODLN\ PDQçHOVWYt POiGHç D
URGLQX7H[WSRGiYi]iNODGQtNDWHFKH]LROLGVNpVH[XDOLWďDĀLVWRWďY\VYďWOXMHçH
YìURED SRUQRJUDILH D MHMt VSRWĢHED MVRX WďçNìP KĢtFKHP DQDO\]XMH GRSDG
SRUQRJUDILH QD VSROHĀQRVW MDNR FHOHN L MHMt YOLY QD MHGQRWOLYp PXçH çHQ\ GďWL
PODGpOLGLPDQçHOVWYtDURGLQ\$NRQHĀQďVHREUDFtVHVORY\QDGďMHNYìUREFĪPL
NRQ]XPHQWĪP SRUQRJUDILH WHG\ OLGHP VH ]UDQďQRX GĪVWRMQRVWt 'RNXPHQW MH
XUĀHQ ]HMPpQD NDWROLFNìP SDVWRUDĀQtP SUDFRYQtNĪP D URGLĀĪP DOH PĪçH EìW
SRPĪFNRXWDNpSURĀORYďNDNWHUìMH]iYLVOìQDVOHGRYiQtSRUQRJUDILH
.RQ]XPDFHSURGXNWĪ´KĢtåQpKRSUĪP\VOXµQHRKURçXMHMHQGďWLPOiGHçDOH
LURGLQXMDNRWDNRYRX-DNpE\WRE\ORNG\E\SRNUiVQďVWUiYHQpPYHĀHUXE\GďWL
åO\VSiWURGLĀHMHGHQVSiWDGUXKìNSRĀtWDĀL6ĀtPSDNĀORYďNDVLXVtQi"
-8-
1LFYtFQHQtGQHVRKURçRYiQRWDNMDNRURGLQD9tPHçHPDQçHOVWYtURGLQD
MH YNUL]L 1LFPpQď L 6\QRGD R URGLQď MDVQď SRXNi]DOD QD GĪYRG\ D KOHGDOD
YìFKRGLVND
9]iYďUHĀQp ]SUiYď ]H 6\QRG\ R URGLQď YĀOiQNX VH StåH Å=UDQLWHOQRVW D
QH]UDORVW
9VRXĀDVQpP VYďWď QHFK\EďMt NXOWXUQt WHQGHQFH NWHUp MVRX ]DFtOHQ\ QD YQXFRYiQt
QHRPH]HQpVH[XDOLW\DQDWRXKXSR]QDWMLYHYåHFKVPďUHFKYĀHWQďWďFKQHMNRPSOH[QďMåtFK
2Wi]ND FLWRYp NĢHKNRVWL MH YHOLFH DNWXiOQt 1HVWDELOQt D SURPďQOLYi QDUFLVWLFNi DIHNWLYLWD
QHSRPiKi ĀORYďNX NGRVDçHQt YďWåt ]UDORVWL -H WĢHED GĪUD]Qď RGVRXGLW YHOLNp UR]åtĢHQt
SRUQRJUDILH D NRPHUFLRQDOL]DFH WďOD XVQDGěRYDQp L SRFK\EQìP SRXçtYiQtP LQWHUQHWX D
QXFHQt NSURVWLWXFL L MHMt Y\XçtYiQt 9WDNRYpP SURVWĢHGt VL GYRMLFH ĀDVWR SĢHVWiYDMt EìW
MLVWpYiKDMtDMHMLP]DWďçNRQDFKi]HW]SĪVRE\VYpKRUĪVWX0QR]tPDMtWHQGHQFLVHWUYiYDW
YSRĀiWHĀQtFKVWiGLtFKHPRĀQtKRDVH[XiOQtKRçLYRWD0DQçHOVNiNUL]HGHVWDELOL]XMHURGLQX
DUR]OXNDQHERUR]YRGPĪçHSĢLQiåHW]iYDçQpQiVOHGN\SURGRVSďOpGďWLLSURVSROHĀQRVWD
RVODERYDW MHGLQFH L VRFLiOQt SRXWD 'HPRJUDILFNì SRNOHV ]SĪVREHQì PHQWDOLWRX QHSĢHMtFt
UR]HQt RKURçXMH SRXWR PH]L JHQHUDFHPL =WRKR SUDPHQt L KRVSRGiĢVNp RFKX]HQt D
YåHREHFQi]WUiWDQDGďMH
7HQ NGR Pi QHMYďWåt ]iMHP QD NUDFKX PDQçHOVWYt MH GXFK ]OD 0QR]t
H[RUFLVWp NWHĢt UR]YD]RYDOL ]H ]iYLVORVWL GRVYďGĀXMt MDNR QDSĢ 0VJUH 6DQWH
%$%2/,1 SDGRYVNì H[RUFLVWD NWHUì Y\VYďWOLO çH VDWDQRYD QHQiYLVW YĪĀL
PDQçHOVWYt SRFKi]t ]H VNXWHĀQRVWL çH VYiWRVW PDQçHOVWYt MH EOt]Ni VYiWRVWL
HXFKDULVWLHÅ9HXFKDULVWLL3iQXSĢLQiåtPHFKOpEDYtQRNWHUpVHSĪVREHQtP'XFKD
VYDWpKR SURPďěXMt Y -HçtåRYR WďOR D NUHY 9H VYiWRVWL PDQçHOVWYt VH GďMH QďFR
REGREQpKR PLORVWt 'XFKD VYDWpKR VH OLGVNi OiVND SĢHPďěXMH Y ERçVNRX OiVNX
WDNçH PDQçHOp SRVYďFHQt VYiWRVWt PDQçHOVWYt VNXWHĀQď D PLPRĢiGQď QDSOěXMt
YìURN3tVPDÅ%ĪKMHOiVNDNGR]ĪVWiYiYOiVFH]ĪVWiYiY%RKXD%ĪK]ĪVWiYiY
QďP´-DQ´GRSOQLOLWDOVNìH[RUFLVWD3DNMHåWďSĢLSRPHQXOçHQHMPRFQďMåt
GXFKRYQt ]EUDQt NWHUi RGGDOXMH SRNXåHQt PDQçHOVNp QHYďU\ MH NDçGRGHQQt
PRGOLWEDUĪçHQFH
3RGOH SDSHçH )UDQWLåND XVLOXMH ]Oì GXFK R GHVWUXNFL URGLQ\ 3DSHç ĢHNO çH
ÅURGLQDQLNG\GĢtYHQHE\ODWDNWRQDSDGiQD´-DNQDQLĊiEHO~WRĀt" ´1DåL VSROHĀQRVW YiEt LQGLYLGXDOLVWLFNp LGHRORJLH çLYRWQt
VW\O\ D P\åOHQt -H NXSĢtNODGX UR]åtĢHQR SĢHVYďGĀHQt çH
NG\ç VH QďNRPX QHOtEt MHKR PDQçHO QHER PDQçHOND EXGH
PXOpSHNG\çVHUR]YHGH3ĢLWRPVH]DSRPtQiQDGĪVOHGN\
NWHUp SRQHVRX GďWL D VSROHĀQRVW 7DWR PHQWDOLWD RGSRUXMtFt URGLQď MH V ĊiEOHP
GXFKRYQď VSĢt]QďQi SURWRçH ]Oì GXFK GREĢH Yt çH RVDPRFHQì ĀORYďN EH]
RSďUQìFKERGĪMHPDQLSXORYDWHOQìDQHVWDELOQt.G\çMHåWďGQHVYHVYìFKSDGHViWL
OHWHFK SRP\VOtP QD VYp URGLĀH NWHĢt VH RGMDNçLYD PLOXMt SĢLQiåt PL WR ~WďFKX D
GRGiYi RGYDKX ]DWtPFR GďWL UR]YHGHQìFK URGLĀĪ MVRX PQRKHP VODEåt D QHMLVWp
([LVWXMH ĊiEHO VSHFLDOL]RYDQì QD ~WRN\ QD URGLQX -H WR $VPRGHXV R NWHUpP VH
]PLěXMH NQLKD 7RELiå 3URMHYXMH VH SĢL PQRKD H[RUFLVPHFK NWHUìP MVHP E\O
SĢtWRPHQ´ĢtNiLWDOVNìH[RUFLVWD3&HVDU75848,5D9DSI
-9-
;;;,6'0.5$.29
Å27É=(.'2.5$.29$´
Už za 240 dní.
͘.G\DNGHDQDNWHUpPNRQWLQHQWXVH
NRQDO\;6'0"
-DNpPRWWR]YROLO-DQ3DYHO,,SUR;
6'0"
&RKOiViÅDQWLHYDQJHOLXP´"
-DNRXNQLKXFLWXMH-DQ3DYHO,,Y5L]DO
3DUNX"
-DNRXYďWRXSDSHçDQLçMHåWďYďGďO
Y]SRPQďO;;6'0Y.ROtQď"
D.G\DNGHVHNRQDOR(YURSVNpVHWNiQtPOiGHçH(60"
6NìPPďOREìWVROLGiUQtDMDNpPďORPRWWR"
E6NWHUìPLPďVW\DQiURG\VH6YDWìRWHFVSRMLOQD0RQW2UVX"
F=QiåQďMDNpKRSĢtPpKR~ĀDVWQtNDWRKRWRVHWNiQt"
G&R]QDPHQi(XU+RSH"
2GSRYďGL EXGH WĢHED ]DVtODW QD IDYVHWLQ#DGRF] YçG\ GR YQiVOHGXMtFtKR
PďVtFH'tN\WďPNGRVH]DSRMLOL=YHPHLGďFND9VH'ď
7ďåtPVHGR.UDNRYDD7<"SI
1$ä,3592.2081,.$17,
1DåL WĢHĨiFL VH SUDYLGHOQď VH SĢLSUDYXMt QD VYDWp
SĢLMtPiQt'ďWLYH9VHWtQďL3RODQFHVLY\URELO\VYtĀNX
MHGQX VSROHĀQRX NWHUi VH ]DSDOXMH VSĢtFKRGHP
SUYQtKR GtWďWH SUYRNRPXQLNDQWD GR NRVWHOD D MHGQX
GR URGLQ\ 'ďWL VL Y\WYRĢLO\ WDNp ]QDN NWHUì MH QD
VYtĀFH7DNQDSĢ65'&(PiPHVHUiGL0DUWLQND3(6
PiPH UiGL REOtEHQp ]YtĢH .DUROtQND 67520 FKRGtPH
UiGL QD SURFKi]NX 0DULiQND +28%$ FKRGtPH UiGL QD
KĢLE\ -RçND 65'Ìÿ.$ PiPH VHUiGL$GDP +51(.
PiPH UiGL NDIH -LUND 5$.(7$ UiGL FKRGtPH KUiW WHQLV
)LOLS 127$ 65'e1.2 PiPH VH UiGL D PiPH UiGL
KXGEX .OiUND 6/81Ìÿ.2 VOXQFH ]QDPHQi VYďWOR
7RQtĀHN65'Ìÿ.2PiPHVHUiGLYURGLQď$OLFH/,67
QDåH SĢtMPHQt MH SRGOH VWURPX EXNX 6iUD 5<%$ PiPH
GRPD U\ELĀN\ D WDĨND FK\Wi U\E\ .OiUND .9Ď7,1.$ - 10 -
YĪQďURGLQ\$GULDQND.ġÌæ65'&(.279$YtUDOiVNDQDGďMH(OLåND65'&(
.ġÌæOiVNDURGLQ\YtUDURGLQ\=X]DQND65'eÿ.2OiVNDYURGLQď%DUERUND
3RGSRUXMPHMHPRGOLWERX
NDWHFKH]HR.ġ78EXGHY~WHUìOHGQD
YYH9VHWtQďDYY3RODQFH
$'9(171Ì.$/(1'Éġ(
LQVSLURYDQp 5RNHP PLORVUGHQVWYt QD NDçGì GHQ MH
PRçQpVL]DGHVHWLNRUXQXY]tWGRNDçGpURGLQ\
1É9ä7Ď9<1(02&1ë&+
3RNXGPiWHGRPDMHåWďQHPRFQpNWHĢtE\XYtWDOLQiYåWďYXNQď]H
VQtPVHSRPRGOLOLDSĢLMDOLVYiWRVWLQDKODVWHMHYVDNULVWLLQHERQD
IDĢH D YYWìGQX RG SURVLQFH MH QDYåWtYtPH PLPR W\
NWHUp SUDYLGHOQď QDYåWďYXMHPH 8PRçQďWHMLPV-HçtåHPSURçtW-HKRQDUR]HQLQ\SI
- 11 -
)$51Ì3/(6<
=YHPHYåHFKQ\OLGLQD.$3/,ÿ.29ë3/(6GR.'/XçQiYVRERWX
OHGQD3ULRULWRXSOHVXQHQtILQDQĀQt]LVNDOHY\WYRĢLWVSROHĀHQVWYtSREDYLWVH
]DWDQĀLWVLOpSHVHSR]QDWD]DçtWUDGRVW'iOL3iQDQďFRVHSĢHFHMHQXWUçtFKWďOL
E\FKRPYìWďçHNGiWQDQRYRXNDSOLĀNX30DULH/XUGVNpDVY)ORULDQD.WDQFL
D SRVOHFKX KUDMt.2/Ì&,] 9L]RYLF 6UGHĀQď ]YRX SRĢDGDWHOp3URVtPH R GDU\ GR
WRPERO\ XGďOiWH UDGRVW VREď L GUXKìP REGDURYiQtPDGDURYiQtP
7DNpYVHWtQåWtIDUQtFL]YRXQDIDUQtSOHV
YVRERWXOHGQDQD.D'pĀNX6\FKURYRG
NWDQFL D SRVOHFKX KUDMH .,.6 %5$66
0ĪçHWH VH WďåLW QD ERKDWRX WRPEROX 9VWXSQp
VORVRYDWHOQp NDSDFLWD ViOX RPH]HQi =YHPH
]YOiåWď PODGp MDNR VSROXSRĢDGDWHOH MH SUR Qď
SĢLSUDYHQpSĢHNYDSHQt0iWHYHONRXåDQFL
)$51Ì.521,.< 'RQDåLFKIDUQtFKVSROHĀHQVWYtMVPHSĢLMDOL
,VDEHOOD1DWiOLH0DFtNRYi9VHWtQ
/XGPLOD(PD%HGQiULNRYi9VHWtQ
6iUD/HåNRYi9VHWtQ
9LNWRULH+RUYiWRYi9VHWtQ
0DWWKLHX0LUJD9VHWtQ
.DWHĢLQD1HOOD%HěRYi9DODåVNi3RODQND
9RMWďFK6XFKiĀHN9DODåVNi3RODQND
2QGĢHM'RPLQLN9DFXOND3R]GďFKRY
-LĢt=HGQtN9VHWtQ
9QDåLFKIDUQtFKVSROHĀHQVWYtFKMVPHVHUR]ORXĀLOL
-R]HI.RQĀRNOHW† 9VHWtQ
.DUHO9\VORXçLOOHW† 9VHWtQ
$QQD)RMWRYiUR]6UERYiOHW† 9VHWtQ
$QQD.XĀHURYiUR]äSDĀNRYiOHW† 9VHWtQ
-DQ7UWtNOHW† 9VHWtQ
)UDQWLåHN%XĀHNOHW† 9DODåVNi3RODQND
-LĢt3UFtQOHW† 9DODåVNi3RODQND
)DUQtOLVW\Y\GiYDMtSURVYRMLYODVWQtSRWĢHEXġtPVNRNDWROLFNpIDUQRVWL9VHWtQ9DODåVNi3RODQNDD3R]GďFKRY
9ìWLVNQHSURåHOMD]\NRYRXNRUHNWXURX3ĢtVSďYN\GRYiQRĀQtFK)$/,SRVtOHMWHGRSURVLQFHQDDGUHVX
IDYVHWLQ#DGRF]9ìWLVNMHQHSURGHMQìQiNODG\ĀLQtDVL.ĀZZZIDUQRVWYVHWLQF]IDUQRVWYDODVVNDSRODQNDF]
- 12 -