Informatica e diritto, Vol. XIV, 2005, n. 1-2, pp. 9-30 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII @EIA F EBE?= E A H =JEL= CA AIEA?HEJE?EJ 15)*- ),\- 1) A )41 ) 21-64) /- A GK=@H @A \ FAH=@E? @EBE?= E AE =JJ E 1J= E= E + @E?A@A \= E EIJH= E A@ECEJ= A A = =J? @ CI % =H # & D= K =IK=FA?K E=HEJ AK IK HE EAL IJH=JACE?,EHAJJ= A JAIJHK A J= A = = @AH E = E A@A =FK>> E?== E EIJH= E A AII = =HC=>A JHAJ= AI? F E FH FHE HE JAA AFH FHEAF JA E= EJ +E E? IE@AH= E A@A HK @AJAH E = JA?DA =FK>> E?== E EIJH= E A`FKH? JKJJA AIKA?HEJE?EJ `?DE= =J==IL CAHAE H@E A= ILE KFF I?E= AA@A? E? = \AIAH?E E??HAJ @AE@EHEJJE@AE?EJJ=@E EA= = E>AHJ @AEH=FF HJEI?E= E,\= JH=F=HJA E IJH + @E?AI\E IAHEI?AE K K L? HI @A FH?AII @EIA F EBE?= E AAHE=IIAJJ H =JEL FE =JJA J = =GK= EJ @A AHAC A AFAHJ= J `@=JA A?=H=JJAHEIJE?DA@A IAJJ HA CCAJJ @EHE=I IAJJ `IEF A@EFAHI? A?= F A > A =JE? E?KE=JJK=HAK = ]HAC = E A@EGK= EJ ^?E IA? @ E?= EE @ELE@K=JEFAH =HA@= E A@AE? @E?E? IE@@AJJE@E] K L=CA AH= E A^ A? K K L =FFH??E JH=ILAHI= AAE JAHIAJJ HE= A F=HJE? =H A JAE@ A =@=BBH J=HAE K =LEIE A@\E IEA AGKAIJ BA A ]C >= A^ JA? CE? A? E? CEKHE@E? AEIK EL=HEHEIL JEEIJEJK E = E?K JKH= E AJE?E )FF E?=J==GKAIJ IAJJ HA =]GK= EJ @A AHAC A^?DE= =B HJA A JAE?=KI= =?K JKH=CEKHE@E?= A IK? F AII `GKA =FE FH FHE= A JAI?EA JEBE?=AGKA = FAH=JEL=`A AI A?EJ=K IFA?EBE? HE L= A J AH=BB H = A J ) =?K JKH=I?EA JEBE?=IEHE?DEA@AI FH=JJKJJ @EBE JH=HA A = K L= @EI?EF E =GKAEL= HE? IJEJK E = EAI?E= E@E?KEJH=@E E = A JAAII=IE B=JJ=FH JHE?A @ABE A @ K =IIAJJ IEIJA =JE? @A = K L=AIFA 15)*- ),\- 1) FHE HE?AH?=J HAAHAIF I=>E A@ECHKFFE@EHE?AH?=FHAII \1IJEJKJ @E6A HE=A6A? E?DA@A \1 B H = E A/EKHE@E?=@A + 4 )41 ) 21-64) /- JEJ =HA @EK =IIAC @EHE?AH?=FHAII IJAII 1IJEJKJ 1 @==JJHE>KEHIE=1,\- E= E @= =JJHE>KEHIE= 2EAJH= CA
1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A HEA =CEKHE@E?= A @ FE IA F E?A?DE=H A@KJJE AF IIE>E A JHA?D E? AHA =? IEIJA =CEKHE@E? CA AH= A EIK E=HJE? =JE? BE E EFHE? FE? I E@=JE=@AII==FF E?=>E EAE K LE??AJJEHA =JELE=I CCAJJE CCAJJEAIEJK= E E?DAE AII==BBE H= )GK= JE FAH= =L=HE JEJ FHAII =FK>> E?== E EIJH= E AIE HE?DEA@A FAH= JH K =F=HJA?EF= E A=JJEL=A?HA=JEL=E B=IAIE=@EA => H= E A?DA@E=FF E?= E A@A = K L=? @EBE?= E A F=HJA?EF= E A?DA @\ H=E = EFK A@ALA HC= E =HIE=JJH=LAHI =@ACK=JAB H A@E= = E IEFHALA JELAA @EL= KJ= E EIK??AIIELA@\E F=JJ @A =HAC = A J= E A)14 A814 IA? @ GK= J FHALEIJ =?DA@= = ACCA@EIA F EBE?= E AFAHE # 5 JJ GKAIJEL=HEFH BE E JH= H? AIIE E IJH + @E?A? IJEJKEI?A K =? @E E AIEC EBE?=JEL=FAH =? FAJEJELEJ @A 2=AIA @= EIKH=HA I FH=JJKJJ E JAH E E@EJKJA =@AE@EHEJJE?ELE EA@A A E>AHJ A? E?DA AEH=FF HJE? F JAHA= E EIJH=JEL 1 + @E?AE JAHLEA AE K =B=IAIEC EBE?=JEL=A=? JA F?HK?E= A @A \AL K E A H =JEL=@A IAJJ HA? I? A@A FH?AII @\E B H = JE = E AFK>> E?= 1 BA A H =JEL D=H=CCEK J E GKAIJ=] =JAHE=^ K \AIJA IE AAK =? F AIIEJ @EBBE?E A JA@ E =>E E A JA F `=F=HJEHA@=C E = E?E GK= J= =? K HEJ F=HJE? =H A JA=??A AH=J A? HI @AC EK JE ELA J\= E`IEI IJH=JEBE?=JEE B=JJE JHA #=JJE H =JE LEE =HC=F=HJA@E ELA IA? @=HE =LA JE=@ CCAJJ E @ IAJJ HE= AABH= A J=HE JKJJEE JAF E?E=IFAJJEAFH > A E`@EL=HE H@E A ACH=@ `A AHCA JE@EF=HEF=II? \AL K E A@A I?A =HE JA? +BH =HJ " ACCA & LA >HA # "$ 5A F EBE?= E AAHE=IIAJJ H =JEL FAH \= # 1 AII JH=F EJE?DA@EHEB H =@A =FK>> E?== E EIJH= E A ILE KFF @EE E E=JELA@E A C LAH A J F EJE?DA@EHAC = E AA? FAJEJELEJ @AC E5J=JE@=JA F CCAJJ @E= = EIE? F=H=JA@AEFE E F HJ= JE HC= EI EAEIJEJK E EI LH= = E = E +5-7 96 *=?= @E= A 7- @E?KE H=E. 4 -?KH=K =]FHE = AJJKH=^? F AIIEL= 8. 4 - =?KH=@E + FAJE E AE JAH = E = AA2)EJ= E= A + A JE @E?HEJE?EAFH F IJA @E EC E H= A J 4 = CEKC # 5KGKAIJE=IFAJJEIELA@= E F=HJE? =HA AHA = E E @E + 44),1 A 1,\- 1) E GKAIJ 8 K A
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII CE?? \AIJA @AHIE@A A=FF E?= E EE C E= >EJ I?E= A? HAEJA H=HIE@EJA @A AA? JH JA @A A@EHEB H =EIJEJK E = AA= E EIJH= JEL=? H=BB H =HIE@A FH?AII @\E JACH= E AAKH FA= 5E =JKH= A JAE BEJJEJ=E GKAIJ=B J= H =JEL==?DA =JH= =@AE FHE? FEA@AC EE JAHAIIEE CEK? @EHE EAL? K EJ=HE A? IJEJK E = A JKJJEF=HE A JE@AC E@EJKJA =AGKE @E CCAJJ @E A?AII=HE >E =?E= A J =I LH= EJ F F =HAAE FHE?EFE @A?H=JE? E FHE?EFE @E AC= E J \E F=H E= EJ AE >K = @= A J @A =FK>> E?== E EIJH= E A = FH E AA = E>AHJ @A =?K JKH=A@A =HE?AH?=I?EA JEBE?= = E>AHJ @A \E E E=JEL=A? E?=FHEL=J= \E JAHAIIA@A AEIJEJK E EFK>> E?DA=@ =IIE?KH=HIE A>=IEE B H =JELAFAH AFH FHEA= E E@EC LAH \E JAHAIIA @AEIE C E=JKJA =HAE@EHEJJE@A =FAHI = EJ ALA JK= A JAE?EIE@= JH=JJ= A J @AE@=JEFAHI = E 2KH =?= @ E J= A? JAIJ ECAH EFAHK =HAC = A J= E A FE =JKH=AF @AH=J= IE =LLAHJEJ=JKJJ=LE= = A?AIIEJ @EHE? F HHA GKAIJ L=IJ E IEA A@EE JAHLA JEAGKAIJEL=HE=IFAJJE @EIJE JEA? F A A J=HE E K GK=@H HC= E??DAI @@EIB=?AIIA \AIECA =FHE HEJ=HE=@E IA F EBE?= E AA?DE=HA =@A AHAC A FAHC=H= JEHAFE ABBE?=?A A JAE K LEI CCAJJE >A EAIAHLE E@A =I?EAJ @A \E B H = E AA=? JA F IJE =HA ILE KFF @A IAJJ HA! 2=H= A = A JA =?DAE FH?AII @\E B H =JE = E AFK>> E?= FKH =LA @ IKFAH=J =?K A?HEJE?EJ @A F=II=J HEAI?AJKJJ=LE==B=HAL LAHAE AC E @A \AIFAHEA = =JKH=J=LAHI K GK=@H IEIJA E? +E I FH=JJKJJ FAH?D = E =J @=K \=@ACK=J=FH IFAJJEL=EIJEJK E = A IA = =GK= A ALA A@A \E L= E A JH L= E LA J B=L HAL AA HE = C E?AFF=JA AEI EJE =??EA =??EK E@A =?K JKH=>KH?H=JE?= AE? @E E = A JE@A =F EJE?=A@AEB HJEE JAHAIIEA? E?EE CEK? 3KAIJ=? IE@AH= E AIE=FF E?==?E=I?K @AC E >EAJJELEFE GK= EBE?=JEAIFHAIIE A AIJH=JACEA@AC EK JE ELA J\= E \=IIK E A@A ILE! =FHALEIE A@EK J= AHE=IIAJJ AIFHAII=E E E= A JA A \=HJ %@A @EIAC @E ACCA @EIA F EBE?= E AFAHE )5%%$ 1 JAHLA JEKHCA JEE =JAHE=@EGK= EJ @A =HAC = E A HE=IIAJJ H =JEL A? @EBE?= E A` ACCA@EIA F EBE?= E A BKF EHA?AFE J= A A E AACKE@=@A / LAH FAH ILE KFF @A =5?EAJ @A \1 B H = E A A = ACEI =JKH= @A CEKC
1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A KFF @AEIEIJA EA@AEIAHLE EE B H =JELE? ABK E AIJH=JACE?=@A A IE C A= E EIJH= E EA@A / LAH A IK E IEA A E? AC= A J @A \E FEAC @A A1+6? FH?AII @EHEB H =@A =FK>> E?== E EIJH= E A E H=BB H = A J @A \=IIAJJ EIJEJK E = AFAHE? H@E = A J H =JEL BK E = AAJA? E? @A IAJJ HA 1 FHE @EGKAIJE >EAJJELE` =B H = E A@EK F=JHE E E B H = JEL FK>> E? IK?KEIEB @= \KJE E IEIJA =JE? @EIEIJA EAIAHLE E E B H =JELEFK>> E?E`JH L= IJ=? E F=HJE? =HA A JAHHA?K JKH= A @A \= E EIJH= E A =@@ LAJ=H@= =@EBB @AHIE K LA? FAJA AA =JJEJK@E E= =? => H= E AE JAHEIJEJK E = AA= =CAIJE A@AE?= >E= A JE HC= E =JELE A FAH= JH LAHI A =?=HA =@EK \E BH=IJHKJJKH= JA A =JE?=@A =FK>> E?== E EIJH= E AL J==C=H= JEHAE IE?KHA = \E JAH? AIIE A@A A K AH IAHAJEFK>> E?DAFH FHEAJ=HEAA \E JAH FAH=>E EJ @AEIEIJA EE B H =JELEFK>> E?E " ) HECK=H@ K =IAHEA@\E JAHLA JE H =JELEE =JAHE=@ECAIJE A @A AE B H = E EA? E? I?E= E=LAL= =LLE=J CE IK BE EHA@AC E = E JJ= J= K = K L=@EI?EF E =IK =CAIJE A@A AE B H = E EA? E? I?E= E?DAD=FH II A=JJK=J ILE KFF E B H =JE? =BE E IJ=JEIJE?E@AC E=H?DELECAIJE = EA@A AH=?? JA@E@=JE= E EIJH=JELE # )J= AF EJE?=D=B=JJ F EIACKEJ A I? @EA -KH FA E FH CH= = = E = A@EA C LAH A J HEA J=J = \AH C= E A@AEIAHLE EFK> " 4A= E = E A=LLE=J=? =4AJAK EJ=HE=@A =FK>> E?== E EIJH= E A472) +BH,EH 2 + #IAJJA >HA''#A,EH 2 + LA >HA''% IK??AIIEL= A JAAL KJ= A 5EIJA =FK>> E? @E? AJJELEJ `52+ @E?KE= @ CI &BA>>H=E # " 1IJEJK E A@A IEIJA =FK>> E? @E? AJJELEJ A@A =HAJAE JAH = E = A@A =FK>> E?== E EIJH= E A = H =@A \=HJE? @A = ACCA ' KC E! ' H=E? HI @EE? HF H= E A A + @E?A@A \= E EIJH= E A@ECEJ= A # \=LLE @EK =@EI?EF E =E =JAHE=@ECAIJE A@A AE B H = E EA? E? I?E= EIE JH L= A = ACCA " '&& @EHEB H =@A =2HAIE@A =@A + IEC E?DAFHABECKH K K L =IIAJJ @AEFK>> E?EF JAHEE =JAHE=AIJ=>E FHE? FECA AH= E@EC=H= E=FAH =H=?? J= \A => H= E AA =@EBBKIE A@AE@=JE =B=L HA@AEIE C EA@AC EA JEFK>> E?E A A @ CI! '&' @EHEB H =@A \156)6 A@A 5EIJA = = E = AIJ=JEIJE??DAD=E L=J H=@E?= A JA \ H@E = A J IJ=JEIJE? = BE A@EHA= E =HA \K EJ @\E @EHE \ CA AEJ HC= E =JEL=A =H= E = E = E A@AEB KIIEE B H =JELE= ELA?A JH= AA?= A @AJJ= @ H AE E E= EFAH \=??AII =E@=JEA =JKJA =@A IACHAJ IJ=JEIJE? 3KAIJ= H =JEL=IE F E? EIKH=J=AE JACH=J=? =@EI?EF E =E =JAHE=@EJKJA =@AE@=JEFAHI = E?BH H=E @ CI '$! + @E?AE =JAHE=@EFH JA E A@AE@=JEFAHI = E?DA? I E@=FHA?A@A JE E JAHLA JE H =JELEIK JH=JJ= A J @AE@=JEFAHI = EFAHBE = EJ IJ=JEIJE?DA
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII! > E?E E A $ 5A? @ AL= KJ= E E@AC E HC= EI EI LH= = E = EA @AC EIJAIIE IJHEHABAHA JE = E = E GKAIJ FH CH= = HEKI?EJ I = ]E @ELE@K=HAAHA= E =HAI K E EE L=JELAE =?K EIAJJ HEIFA?EBE?E^ =D= =I?E=J? F AIIEL= A JAE KJ=J E IEIJA == E EIJH=JEL?DA HAIJ=GKE @E]?=H=JJAHE =J @=>=IIE ELA E@EE LAIJE A JEFK>> E?EE 1+6 A@=K E IKBBE?EA JACH=@ @EE B H =JE = E A@AE AJ @E@E =L H A @A AFH?A@KHA= E EIJH=JELAA@EE JAH=JJELEJ @AEIAHLE E^%?D @= = ]FAH = A =@E@EI CA AEJ JH= A@ELAHIA= E EIJH= E E^& E I = K \E =CE A=CCE H =J=@A =IJ HE?=]E B H =JE = E A= =??DE=@E A F=H@ ^?DAHEB AJJAE LAH `? A=??A AH GKE@EIACKEJ ` \=JJK= A B=IA@\E?AHJA =A@E=IE AJHE=@A FH?AII @EHEB H == E EIJH=JEL= )?DA \E E E=JEL=? CEK J=@E5J=J 4ACE EA@A JE?= EFAH =FE= EBE?= E AAE BE = E= A J @EFH CAJJE@EA C LAH A J FKH=LA @ HACEIJH=J K B HJAFH J=C EI @A AFK>> E?DA= E EIJH= E E?= E HEKI?EJ=JKJJ=LE==@E FHE AHAE GKAIJ?= E K @EIAC = E = AK EJ=HE \A A A J F EJE?= A JAAJA? E?= A JAFE HE AL= JAAHE?? @E F JA E= EJ @=J @= =HA= E = E A@A 5EIJA =FK>> E? @E? AJJELEJ 52+ AL K E A@A =4AJAK EJ=HE=@A =FK>> E?== E E IJH= E A472),ABE EJ @= @A?HAJ EIJEJKJEL? A] \E IEA A@EIJHKJ $ 7 FHE FH CH= = = E = A@E= E EIJH= E AA AJJH E?=A C LAH A J @A E >AH=J A CEKC '''IKFH F IJ=@A E EIJH FAH =BK E AFK>> E?=*=II= E E BK =FFH L=J @= + EJ=J @AE E EIJHEFAH =I?EAJ @A \E B H = E AA@= =+ BAHA =K E BE?=J= A CEKC KC E 1 @A @EA C LAH A J IJ=J HEFHAI @= / LAH *AH KI? EA@= K L E EIJH FAH \E L= E AA AJA? CEA 8, 2 + "BA>>H=E HA?= JA7JE E = E A@EGK J=@AEFH LA JE@AHEL= JE@= A E?A A7 65 FAHE FE= A C LAH A J, 2 + & =H @= EJ @EKJE E @AEFH LA JE@AHEL= JE@= A E?A A7 65 @E?KE= \=HJ!@A = ACCA!@E?A >HA!&& )LLEI!=FHE A " 5A A E A@EFH CAJJEFH F IJE@= AHACE EA@=C EA JE?= EFAH \=JJK= E A@A \A C LAH A J E / 7!=FHE A %&, & KC E #,AJAH E = E A@A? BE = E= A J @AEFH CAJJEFAH ILE KFF @A =?EJJ=@E = =@ECEJ= A`)LLEI @A!=FHE A " % 1 GKAIJEJAH E EIEAIFHE A+ -16-4 =?KH=@E A/ LAH A JE -KH FA 6DA5J=JA B)BB=EHI 4=FF HJ -12) -KH FA= 1 IJEJKJA B2K> E?)@ E EIJH=JE!5A? @=? BAHA =IK \A C LAH A J + % & KC E! F $ &?BH,EH E "CA =E # E AACKE@=FAHE #E =JAHE=@E@ECEJ= E = E A @A \= E EIJH= E A
" 1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A JKHA HC= E =JELA E BH=IJHKJJKHAJA? CE?DAAHAC AJA? E?DA FAH ILE KFF =? @ELEIE A \E JACH= E AA =?EH? =HEJ @A F=JHE E E B H =JEL @A =FK>> E?== E EIJH= E A A?AII=HEAFAH=IIE?KH=HA \E JAH FAH=>E EJ A =? FAH= E A=FF E?=JEL=@AEIEIJA EE B H =JE?EA@AE B KIIEE B H =JELE C=H= JA @ =IE?KHA =A =HEIAHL=JA =@A AE B H = E E^ =HJ? @ CI " # E 5EIJA =? IJEJKEI?AK @A E JAHAII= JA@E]= E EIJH= E A? F IEJ=^ FAH =? => H= E AJH=E L=HE ELA E@EC LAH K @A?DAIA FHAFE I\E F AFAHIKFAH=HA =@EBBE? J @AEF JAHEIJ=J= E@EC LAH =HAEFH?AIIEA? E?EAI?E= EE K? JAIJ C >= E =J ' 1? AC= A J @A FH?AII @\E B H =JE = E A? GKA @EHEB H =@A =FK>> E?== E EIJH= E A`IA? @ >EAJJEL IJH=JACE? FAH ILE KFF @A IAJJ HA`HEIA JA@A = E HA=JJA E A?DA A \=JJK= A ACEI =JKH=IE =LKJ=LAHI GKAIJ JA = AHEB H AEIJEJK E = EA= E EIJH=JELA@AC E= E L= J==LAL= FAH IACKEJ AHA= E =J E K \ JJE?=@E= FE HAIFEH =?K AE L= E E@A?EIE LAFAH = @AH E = E A@A 2=AIA @=C EE JAHLA JE@EHEB H =@AC EA JE?= EA@= =@EI?EF E =CA AH= A@A FH?A@E A J = E EIJH=JEL =K @EIA C HC= E? @EHEB H == E EIJH=JEL=? =@ABE E E A@E?HEJAHEAFHE? FEIK \E FEAC @AEIEIJA EE B H =JELEFK>> E?E=KJ =JE =JE 2E HA?A JA A JA A \E IEA A@A A ACCE? IE@@AJJA*=II= E EAHA =JE LE@A?HAJE=JJK=JELE @EF=HJE? =HAHE EAL I IJ=JA=?K A EIKHA@EF H ' -IA FE@E= E EIJH= E E? F IEJA= ELA IJ=J= AI E 5EIJA =IJ=JEIJE? = E = AAE 5EIJA =I= EJ=HE = E = A ==?DAE 5EIJA =>E> E JA?=HE = E = A ) ELA HACE = A IE? J=? AJ= A =4AJA6A A =JE?=4ACE = A6 I?= =4646 @ABE EJ=]B H = IJ=>E A@E? H@E = A J @A IEIJA =HACE = A@A A=KJ EA?= EA@E? FAH= E A@A IEIJA =IJAII? = JHEI CCAJJE FK>> E?EAFHEL=JE A A =JAHEA@A \= E EIJH= E AA AJ JH E?=A@A =I?EAJ @A \E B H = E A^ =HJ? H 6 I?= = $CA =E " 2H E A@A \= E EIJH= E AA AJJH E?=A@A =I?EAJ @A \E B H = E AA@A =? I?A = A IEIJA =HACE = A,EI?EF E =@A =]4AJAJA A =JE?=HACE = AJ I?= =^ 7 FHE I IJAC E F HJ= JA LA KJ @= AE E E=JELA@EHEB H =@AC EA JE?= EA @= =@EI?EF E =CA AH= A@A FH?A@E A J = E EIJH=JEL AGK= E L JA? \AH= =? IA CKEHA @EFE H= E = E? AHA JE IA F EBE?=JEA@A?H=JE?E@A \=JJELEJ = E EIJH=JEL= A?AII=HE= A JAE F E?=L= K \ HC= E = E AAK \E JACH= E AABBE?=?A@E=H?DELE >=?DA @=JEAIEIJA EE B H =JELEFK>> E?EA=J= BE A BBHEL= FHE? FEA?HEJAHE@EF=HJE? =HAHE EAL
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII # J=J=@EBBKIEL= \=@ E A@E?HEJAHEA @= EJ FAH =B H = E A \=H?DE LE= E AA =JH=I EIIE A@E@?K A JE? IJHK A JEE B H =JE?EAJA A =JE?E? \E JH @K E A@A IEIJA =@A =BEH =@ECEJ= A \= F E= A J A \E L= E A HC= E?=@A FHE?EFE @A \=KJ?AHJEBE?= E AA \=@ E A @E K LA @= EJ FAH =CAIJE A@A FH J? E B H =JE? @A AFK> > E?DA= E EIJH= E E 4E AL= = JHAI \=BBAH =HIE@A A?=HJA?EJJ=@E A= E?H FH?AII HA? IE@@AJJAI =HJ?=H@? A@?K A JEFAHI = E@\E @A JEJ A? AIEIJA E@EF=C= A J @AEIAHLE EFK>> E?E \E JH @K E A @A IF HJA K E? FAH A=JJELEJ FH @KJJELAGK= AIJHKJJKH= HC= E =JEL= FHELE ACE=J=FAH \=FF E?= E A@AE K LE AJ @EAIJHK A JEE B H =JE?E 3KAIJ FKHL=IJ A=FFHA =>E A@EIAC @EHEB H =D=FAHI FAH I =?E A =FH CAJJK= EJ E E E= A + JH=@@AJJ AFAH?AHJELAHIEILK J=J @=K =IAHEA@E IJ=? EH=@E?=JEK F \ @ LK GKA AII IE??HAJE =J E E E E=JELA@EE L= E AAIA F EBE?= E A= E EIJH=JEL=?DAHEIK J= E? F AJA IAJJ HE= EA? JH=@@EJJ HEA FHELA@EK GK=@H? F AIIE L A? AHA JA@EHEBAHE A J 3KAIJ=IEJK= E A@EE =BBE@=>E EJ A@EIGKE E>HE @A FH?AII @EHEB H == E EIJH=JEL=? @E E =@E? IACKA =E FH CH= = = E = A@E A C LAH A J E GK= A=IK=L J= E K?EH? LE E I E CAII=E A??= EI E@EHEB H = FH @K?A @ =FF E?= E EE B H =JE?DA@EF=HE 2AHI=?EHAK FE IJHAJJ? AC= A J JH=E@KA=IFAJJE@A = @AH E = E A@A =FK>> E?== E EIJH= E A = ACCA! JJ >HA'' " @A AC=L=E / LAH =@A = =HA H A FE H= E = EAIJHE CA JEE =JAHE= BE = E = @ @EHAJJ= A JAE? H@E = A J @AEIEIJA E E B H =JELEFK>> E?E= =C=H= E=@A \E JACH= E AAE JAH? AIIE A 1 AIA?K E A@EJ= A @A AC= E @ CI ' ''!=@ JJ=L=K JAHE HE?HEJAHEA? HHEIF @A JE H A HC= E =JELA?DA IEHEB AJJAL= IK \E FEAC @A \E B H =JE?= A \= E EIJH= E AFK>> E?= AE @ CI!' ''! HEL K E = @ \=IIAJJ EIJEJK E = A@A IAJJ HA HA?=L=K =FHE =@EI?EF E =@E?=H=JJAHAIEIJA =JE? E =JAHE=@EIEIJA EE B H =JELEFK>> E?E=KJ =JE =JE +BH, 2 4 LA >HA''% #!, 2 4 JJ >HA''& "!, 2 4 JJ >HA ''& " & JKJJA?DAI IJ=JAF EJKJJA=>H C=JAAI IJEJKEJA? H A@EIE E =HAJA HA@=, 2 4 &@E?A >HA ""#6AIJ K E? @A A@EIF IE E E ACEI =JELAAHAC = A J=HEE =JAHE=@E@?K A J= E A= E EIJH=JEL= AI IJ=JA H=E F=HJAE? HF H=JA A + @E?A@A \= E EIJH= E A@ECEJ= A +BH =?DAE, 2 + &BA>>H=E ''' F E=>H C=J AI IJEJKEJ @=, 2 +!CA =E " +BH E?EJ=JEH=FF HJE@A \ +5- A@A \-12) IE JAJE =JEE. 4 - =?KH=@E F?EJ F=IIE
$ 1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A E EJ=J=GK= EJ A@ABBE?=?E=FAHE HE L= A J @A IEIJA == E EIJH=JE L A IK? F AII 2AH? F AJ=HAA? I E@=HAE =L H CE =LLE=J?? HHA@K GKA HEF HJ=HA=?A JH @A \=JJA E AF EJE?=E FH > A =@A =HEB H =@A = FK>> E?== E EIJH= E A A =IK=FE = FE=FH IFAJJEL=?E? A FH > A =F EJE? A@AJE? FHA E A JA B=JJ HA@EE JACH= E AA? FAH= E AEIJEJK E = A @E? AIE AI?E= AA@EFH CHAII A? E? >= K=H @ @A FHE?EFE @E AC= EJ 5 E JACH= @ IE? K \ FAH=IEBB=JJ=@E HEB H == E EIJH=JEL= =]@ECEJ= E = E A^ @A =FK>> E?== E EIJH= E AFK HA?=HABHKJJEABBE?=?E \=IIAJJ EIJEJK E = A`K JE >EAJJEL IJH=JACE? FAH \ HC= E = E A AE BK E = A J @EGKAIJ IAJJ HA` IJ=J =?D\AII CCAJJ @EK \AL K E A@EI? JE K=A? JH=@@EJJ HE= @=K JE??HAJE =J=IE A \EIJEJK E A@EK K L E EIJH FAH \E L= E AA AJA? CEAA@A? HHE IF @A JA,EF=HJE A J @EIKFF HJ A =IK??AIIEL=I FFHAIIE A @A \)12) )KJ HEJ FAH \E B H =JE?= A =FK>> E?== E EIJH= E AA A JH=IBAHE A J @A AIKABK E E@E?=H=JJAHAJA? E? HC= E =JEL = + 12) +A JH = E = AFAH \E B H =JE?= A =FK>> E?== E EIJH= E A +?E A? FAJA A?DE= =JAE?=KI=E =JAHE=`GKA AHA =JELA= FH?AII JA? CE? AGKA AHECK=H@= JEE FH?AII @EHEB H == E E IJH=JEL=` @=FFHE =AIAH?EJ=JA? F AIIEL= A JA@= E EIJH A@=,EF=HJE A J @A =BK E AFK>> E?=E? AC= A J? \)12) I IJ=JAIK@@ELEIAJH=E@KA E EIJHE JA KJEAN ACA = HA?EFH?? H@E = A J,EB=JJ EFE= EAEFH CAJJE=LLE=JE@= E EIJH FAH \E L= E A D= FHELE ACE=J K =FFH??E JA? CE? =I?E= @ E IA? @ FE= E? JAIJ @A =HE HC= E = E AEIJEJK E = AA= E EIJH=JEL=? F E?A =?DA =@A> A =F EJE?=@A =.K E AFK>> E?= A \=JJK= A ACEI =JK H=?=H=JJAHE =J=E FHE EI @= =@EI? JE KEJ @AC EE?=HE?DE! 2=H= A = A JA = ACCA? IJEJK E = A& JJ >HA! HA?= JA @EBE?DA= JEJ 8 F=HJAIA? @= @A =+ IJEJK E A A JHAD= F JA E=J AFHAH C=JELAA A? FAJA A@A A4ACE EA@AC E= JHEA JE! +BH FAHK IFA?EBE? HEBAHE A J AL=HEAA@E E E= K= E@A A E AACKE@=FAH = @ECEJ= E = E A@A \= E EIJH= E A, @E?A >HA @E?A >HA & @E?A >HA!A"CA =E #
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII %?= EJAHHEJ HE= E?BH =HJE? E%A&+ IJ D==BBE@=J E LE=AI? KIEL= = 5J=J =? FAJA = ACEI =JEL=E =JAHE=@E]? H@E = A J E B H =JEL IJ=JEIJE? AE B H =JE? @AE@=JE@A \= E EIJH= E AIJ=J= A HACE = AA?= A^ =HJ %? AJJ H + IJ F A @? I E?= F K =GKAIJE A@EHEF=HJ @E? FAJA AJH=5J=J 4ACE EA@=KJ EA?= EE IK>EA?J= =JAHE= F=II=J=CE =K FHE L=C E @A CEK@E?A@A A ACCEA@AEFHE EE JAHFHAJE " 1 @EFA @A JA A JA@= C EFE =FFH B @EJ=? IE@AH= E AIK JA = E @ FHE?EF= AHAIJ== HECK=H@ =?=F=?EJ @E? E L CAHAE GKAIJ FH?AII A@ELAHIA=HJE? = E EAE@ELAHIE ELA E@EC LAH 3KAIJ\K JE =IFAJJ IA >H=E F=HJE? =HA A?AII=HE? HECK=H@ = ELA HACE = AA= GKA?= A FH J=C EIJEIJ HE?E@A \E B H =JE = E AFK>> E?= A4ACE E E B=JJE E GKAIJ IAJJ HAIL C BE @=C E= E5AJJ= J=K = FE HK @E FH E A E @EHE A? H@E = A J A CCE @ F =HEB H =? IJEJK E = A =? HFE E AC=>E AK H F JAHA@E=KJ =IJH=JACE= FKHE K = ]LEIE A? @ELEI=^# C EA JE?= E @\= JH=F=HJA =?DAE GKAIJ IAJJ HA D= K =L?= E A@EIAHLE E @EFHE FE= 1? JAIJ @E? FAH= E A EIJEJK E = AIEHA @A GKE @E E @EIFA I=>E AFAH=??HAI?AHAE>A ABE?E@AHEL= JE@= @A?A JH= A J AE FA@EHA?DAAII =? JH=HE? @E E =J @=C EE JA HAIIE?= E? IJEJKEI?=K IJ=? = =HEB H == E EIJH=JEL= 1 IJH + @E?AIEF AALE@A JA A JA=?H?ALE=@EGKAIJAL=HEA? HF IAJA =JE?DA " 1 JA =?BH + HJA? IJ %!$!%@A "!!# #A"#@A # 6H=E FHE E? A JEE =JAHE= L 21-64) /- *HALE JAIK ]? H@E = A J E B H =JE L E B H =JE? AIJ=JEIJE? @AE@=JE@A \= E EIJH= E AIJ=J= A HACE = AA?= A E 1 B @EH " FF!#II, )4 /17 =BK E A@E? H@E = A J E B H =JE? =KJ E=@A A4ACE EAF JAHE@A E EIJH FAH \E L= E AA AJA? CEA E,EH E B # FF 'II 8 5)4+ - = A= A? => H= E AL= A=?DAFAH \A C LAH A J,= = + IK J=K \??=IE AFAHJH=JJ=HA@A \E L= E AJA? CE?= A A= E EIJH= E E A =HELEIJ=JA A =JE?=MMM BA@AH= EI E EJ, )4 /17 + A J = \=HJ " E / +)55) + /174,) - ) =?KH=@E 1 + @E?A@A =2K>> E?== E EIJH= E A@ECEJ= A + A J=HE = @ CI & @A % =H # E = /EKBBH # FF II # +BH \A C LAH A J FAHK BA@AH= EI ABBE?EA JA 7 =LEIE A? @ELEI= K =HA= E = E A? FAH=JEL= @?K A J A => H=J @= + EJ=J JA? E? @A =+ EIIE AFAH = A JAFAH \E L= E AA AJA? CEA? IJEJKEJ=JH=E2HAIE@A JE@A A4ACE EAE E EIJH FAH \E L= E AA AJA? CEA 4 = =FHE A!
& 1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A -II @ALA? HHEIF @AHA=@KA@E = EI E E @E = EI E JHE IA? @A ILE KFF JA? CE? AE @E = EI?DAE FHE C E= JE >EAJJE LE@=FAHIACKEHA =IJAII=JA? CE=@ LH F EIKCCAHEHAAB=L HEHA K LE @E = EI E A AHA = E EEIJEJK E = EAI?E= E A E >HEC E=H AE I?DA E@AJJ=JE@= \AL K E AJA? E?=@A A J IFAII HAAJE? @AC E >EAJJELE@ LH @\= JH=F=HJA HEA J=HA \E JAH FHAJ= E A@A K L? HF H =JEL AI A?EJ=HA@EL J=E L J=C E E JAHLA JEFE =@ACK=JE= A A?AIIEJ LAHA@AC EE @ELE@KE @EJKJJEC EE @E LE@KE A= A H ACEJJE A=IFAJJ=JELA,E? IACKA = E =CCE HEFHE? FE>=IA@A = K L=HAC = A J= E A F II?DAAIIAHA I JJ E FH BE B H = A \AIIA E= EJ =?DE= HA =A =IA F E?EJ =? AHA =IEIJA =JE?=A = AKJH= EJ JA? CE?= @A AHAC A I JJ E FH BE I IJ= E= A =? @ELEIE A@E >EAJJELEA@E IJHK A JE FAH=JELE =? FAH= E A=FF E?=JEL= E E>AH =??AII = \E B H = E AB=JJAI= LA AEF JAIE@EJKJA =FHALEIJA@= = ACCA ) HECK=H@ 5J=J `GK= E?DAIE= EIK EF JAHE@E ACEI = E A ]AI? KIEL=^ A = =JAHE=E CCAJJ AE GKA A=BBE EA? F A A J=HE`D= E? FEJ A =HAIF I=>E EJ @EFH K LAHAK \E JA I==JJELEJ @E=?? H@E AHA = E EEIJEJK E = E=BE EI FH=JJKJJ @E? H@E = A J JA? E? A 4ACE EAC EA JE?= E @\= JH @A F II KJE E =HA A? FAJA A =@AIIE=?DA? IJEJK E = A JA=JJHE>KEJA? AIJA??=JEE IKFAH=>E E 5AHLA E I =?DAIE=BBAH EE GKAIJ=HAC = A J= E AK \E@A= K EJ=HE=@A =FK>> E?== E EIJH= E A IA =@EIJE E AJH=]?A JH= A^ A ]?= A^ A \E@A=@A \E B H =JE = E AFK>> E?=? A]? K A EIIE A^ @A =FK>> E?== E EIJH= E A K EJ=HE= A JA? IE@AH=J= 3KAIJE EF=E @ LAHAIIAHA=?K E@AE?=H=JJAHEE L=JELE A?AII=HE = K L + @E?AFAHIKFAH=HA \=JJK= AIEJK= E A@EA F=IIA E?KELAHI= GKAIJ IAJJ HA +EIE?DEA@AIAAII =>>E=J= E?=H=JJAHE IA E@ A =E LAIJEHAHA= A JA? LA J @A \E L= E AJKJJ= =FK>> E?== E EIJH= E AA=HA @AHA AII=IJAII= J HA@EK = @AH E = E A@A IEIJA =2=AIA $ +BH / +)55) + /174,) - ) =?KH=@E 1 + @E?A@A =2K>> E?== E EIJH= E A@ECEJ= A + A J=HE = @ CI & @A % =H # E = /EKBBH # - +)4 1 =?KH=@E 1 + @E?A@A \= E EIJH= E A@ECEJ= A + A J =, CI % =H # & 4E E E =CCE E #
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII ' AFHE A= = EIEA? A JE@A + @E?A $ JH=?KE=?DAGKA EGKEH=?? JE`A FHE ==? H= \=HJE? =J F=HAHA@A + IEC E @E5J=J IK I?DA =@A + @E?A`D= CEK@E?=J =FFHA =>E A \ FAH=@A E EIJH = D= =?DAALE@A E=J K =IAHEA@EE IKBBE?EA A @EB @ A@E@AJJ=C E,\= JH=F=HJA IA? @ GK= J?E= JE?EF=E GKAIJ 8 K A- HE?,A /E L= E % E K L E JAHLA J H =JEL @E @EBE?=AE JACH= E A= + @E?AIJAII `CE FHA@EIF IJ @= \7BBE?E ACEI =JEL @A,EF=HJE A J FAH \E L= E AA AJA? CEAA=JJK= A JAE B=IA@EL= KJ= E AFHAI I C E= JHEHABAHA JEEIJEJK E = E`] K CE@= L AHHEB H =HA?=F L CA HA \=IIAJJ IEIJA E? @A + @E?A ^ D= I? F ]@E@=HAK =FE? F AJ= HA= E = E A=EFHE? FEA?HEJAHE@EHAJJELE@A = ACCA@A AC= ' JA J= @ @EA E E =HAE?AHJA A @K>>EE JAHFHAJ=JELE @E=BBE =HA =F HJ=J= @E=?K A@EIF IE E E @E?HA=HAK IEIJA = H =JEL FE K EJ=HE HC= E? A? F AJ ^ 5A =L AH= JE?EF=HAK CEK@E E @ABE EJEL @E AHEJ `FAHE GK= A?? HHA=JJA @AHAE? F AJ= A J @A \EJAH H =JEL E JE HA?DA =?K E@EBAJJE@\E F IJ= E A`?DA=LHA>>AH HE?DEAIJ =FFK J K E FAC FE H=@E?= AA? CEK J @AEL=HEI CCAJJEEIJEJK E = EAI?E= E? E L JEE =JAHE=`HAIJE E IKFAH=JE=?DA@= \E JAHLA J? HHAJJEL 6H=GKAIJE?EJ I =? IE@AH= E AE? F AJ=@A = H =JEL=@EHEBA HE A J A = =?=J=HA= E = E A@EK \= = EIE@\E F=JJ @A =HAC = A J= E A A A A JE?DAD= @AJAH E =J =F=HAHA@A + IEC E @E 5J=J K =?=HA =@ELEIE AIEIJA E?=@A + @E?AA?DA GKE @E @=I I E HEI?DE= @EE?E@AHAIK \ABBE?=?E=@A = K L=@EI?EF E = =? IE@AH= E A@EJKJJ= =FHACHAII= H =JEL==LHA>>AE @ JJ E ACEI =J HAGK=IE =JKH= A JAIK =LE=@EK = =CCE HAAIIA E= EJ HC= E?EJ A? AHA = H=FE @EBBE?E A JAHA?KFAH=>E A =HA= E = E A@A \)14 @\= JH @A I =LHA>>AIKCCAHEJ K FE AGKE E>H=J =FFH??E H =JEL? A K?E=JEA@EIF IE E EI IJA KJA@=K CH=@ @E? CA =IKBBE?EA JAAHA= EIJE? ==LHA>>A? IA JEJ @E=CEHA=? JA F IK=?K E=IFAJJE@A FH?AII @\E B H =JE = E AFK>> E?=?DAHAIJ= JKJJ H=EFE I? FAHJE \=IFAJJ HC= E =JEL % -,- /1 8) 1 1 + @E?A@A \= E EIJH= E A@ECEJ= AAE @A?HAJ E JACH=JEL A? HHAJJEL? IE@AH= E ECA AH= E
1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A GKA @AC EIJ= @=H@ AGKA @A =B H = E A@A FAHI = A?DA A \??=IE AI=HA>>AIJ=J IJE =J =? E L CE A J 1 =L H FHAF=H= J HE @A + @E?AI=HA>>AIJ=J FH >=>E A JAFE => HE I =@E K \E?=? =>E AKJE EJ 3K= A?DAIE= \AIEJ BE = A@A \=JJAI E JAHLA J E JACH=JEL A? HHAJJE L @A + @E?A I=H? K GKA? FEJ @A FH IIE / LAH =LLE=HAK =JJA J EJ H=CCE A =L= KJ= E A@A AFAHB H =?A A@AE>A AB?E @AHEL= JE@= \=FF E?= E A@A + @E?AIJAII FHABAHE>E A JA=JJH=LAHI =FF IEJAL= KJ= E E@\E F=JJ @A = K L= ACEI = E A =IJHK A J= EJ A =FAHL=IELEJ @A AHAC A@EGKAIJ IAJJ HA@= E B=JJE=GKAIJ + @E?AK =F JA E= EJ A H A?DA IAIEAIFHE AH E F IEJEL HEKI?EH = E>AH=HAAL= HE =HAA AHCEAFAH ILE KFF @A = I?EAJ @ELAHI= A JAHEI?DEAH @E=BB @=HA HE LE=HAIE A@EA C EHE?DEA IJ=@EILE KFF A@ELAH=@A?H= E= 1 K L IJHK A J H =JEL K @AEFHE E? @E?E@EIAJJ HA HAIJ=? K GKAFAHFE LAHIEK B=JJ =FFHA =>E A E HE EAL F EJE? @A \E E E=JEL= F A @ FE LEIE>E A JA =FK>> E?== E EIJH= E A? A @A @E HEA J= A J AIJHK A J @EI IJAC FAH \E JAH=I?EAJ E FAC = =CCE H A JAE IEIJA =@A =FK>> E?== E EIJH= E A=@=HA IACKEJ = \ HC= E = E AA= AHAC AGKEIJ=>E EJA A??E JA @A= I IJA AHA IE=FKHAE @EHAJJ= A JA K =F EJE?=@EILE KFF @A IAJJ HA 2HE =@E=FFH B @EHA A K AH IAA? F AIIAGKAIJE E?DAE ]+ @E?A@A \= E EIJH= E A@ECEJ= A^ D=I AL=J JA@A AGK= E I E @=C=JA AE? JHE>KJEH=?? JEE GKAIJ 8 K A JKJJE= E =JE@=? IJHKJJEL E JA J @EI A?EJ=HAK JAHE HEHEB AIIE EE LEIJ=@A \=FFH L= E A@A CE FHA= K?E=J @A?HAJ E JACH=JEL A? HHAJJEL FK CE L=HA =?DAK H=FE@?A = =CA AIE@A + @E?AIJAII FAH AC E? FHA @AH A =??= E A= \E JAH @A \ H@E = A J =IFA?EBE?=IK= H=JE A =FHAIK J=F HJ=J=E L=JEL= = ACCA ' KC E! ' @= =GK= AE + @E?AJH=A HECE A D= E FHAII `? \ J `K K L? HI = FH?AII @EIA F EBE?= E A A? @EBE?= E A@A = H =JEL=IJ=J= A HE L= @? I E @E>=JJEJ IK FE CA AH= AJA =@A =]GK= EJ @A AHAC A^ 7 =FHE == = EJE?=HE? IJHK E A@EJ= AFAH? HI A F=HAHAHAI @=
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII + IEC E @E5J=J IK I?DA =@E]+ @E?A@AE@EHEJJE@EFH FHEAJ E @K IJHE= A^ E GK= A+ @E?A FKHAIIA @ B H = A JAHE? @K?E>E A=@K = H =@A AC= JA? JA KJ= A = ACCA '! D=@EB=JJ E =K CKH=J E K L? HI @A =? @EBE?= E A? IJEJKA @ A A =I IJ= = K \= JE?EF= E A & 1 J= AF=HAHA \)@K = =CA AH= A@A + IEC E @E5J=J D=JH=JJACCE= J \AL K E A@A FAH? HI? FEKJ @= ACEI =J HAIJ=J= AE @EHA E A @A =IA F EBE?= E AA@A HE H@E @A A H A @=FFHE = FJ= @ FAH K @A @EIA F EBE?= E A @A ACEBE?= E A=BBE@=J== \=FFH L= E A @EHAC = A JEIKIE C EFH?A@E A JE F E=JJH=LAHI E HE H@E HE=IIAJ J @EE JAHA =JAHEA HC= E?DA? EJAIJEK E?E EIJE FHE = A? E K LE ]? @E?E^ F E IJAII + IEC E @E5J=J D=GKE @EALE@A E=J? A? = ACCA '!IEIE=F IJ==JJA E A= =IA F EBE?= E A A = IK==??A E AFE = FE= =GK= AHE?DE= = JHA= =IA F EBE?= E A@AE FH?A@E A JEE IA I IJHAJJ =FE CA AH= AJA =JE?=@A =GK= EJ @A A HAC A @= =? AHA =A?DE=HA =@=K FK J @ELEIJ=CEKHE@E? B H = A = =AIIA E= EJ A E HA AH IEJ @=K FK J @ELEIJ=A? E? I IJ= E= A 1 K L FH?AII E =KCKH=J? E ]HE=IIAJJ ^ FHA K@AHA>>A @K GKA =@K =HE HC= E = E A? F AIIEL=@A AB JE?DAHAC = K =@AJAH E =J= =JAHE=A@= = H IEC EBE?=JEL=HE@K E A? I @=]FAH AJJAHA=E?EJJ=@E E@E=LAHAK GK=@H >A FHA?EI AK EJ=HE @A AHAC A?DA@EI?E F E = K IAJJ HA@A =LEJ=I?E= A^' =?=I A@A ACDA@A = ACCA '!I FE = FEA?DA A FHA?A@A JE@A JA F @AEJAIJEK E?E EIJE? IA JA @ = ACEI =J HA@A A C=J IE=@E @EBE?=HA =@EI?EF E =@EH= C ACEI =JEL =BE E@E? H@E = A J B H = A IE==?DA@EE L=HA? IE@AHAL A JA A AHEJ A H A CCAJJ @A =? @EBE?= E A 2H FHE E H=CE A@EGKAIJ\= FE= B=? J @\E JAHLA J @AHEL= JA@= A@A ACDA E + IEC E @E5J=J D=FHABA & + I 5J ) / # JJ >HA " " 1 @ CI BA>>H=E #! + @E?A@A = FH FHEAJ E @KIJHE= A = H =@A \=HJE? #@A = ACCA @E?A >HA %! IJ=J A = =J `? AIE@AIK A@= JEJ `E =JJK= E A@A \=HJ #? @A = ACCA @E?A >HA %! EIKHAFAHB=L HEHA \E E E=JEL=FHEL=J=A ILE KFF @A =?? HHA = ' + I 5J ) / "?EJ FK J!!
1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A HEJ =FFA =HA = K L=B=IA? JAH E A]? @EBE?= E A^ FEKJJ IJ?DA ]HE=IIAJJ ^??AJJ?DA AC E HEKI?EHA>>A=HA @AHAE@KA?=H=JJAHE=FFA =AL?=JE LLAH \E L=JELEJ I IJ= E= AAE? I E@= A J B H = A 3KAIJEK JE E? IJEJKEI? E ABBAJJE =FA?K E=HEJ @A = K L=B=IA@E ]HE=IIAJJ ^ H =JEL?DAIE?=H=JJAHE =FH FHE FAH =F IIE>E EJ @E HEB H =HAE? JA KJE@A =@EI?EF E = ACEI =JEL=@EK =@=J= =JAHE= =?DA =JJH=LAHI =IA F EBE?= E AI IJ= E= AA =@AHAC = A J= E A A= IJAII JA F @E?HA=HAK =H=?? J= HC= E?=@EJKJJA A H A @E ELA FHE =HE 6= J FHA AII F=HAE FF HJK?DEA@AHIE H=IA E K = =JAHE=? AGKA =@A \E B H =JE = E A= E EIJH=JEL=FAH@ABE E E A AC=J== AAL K E E@A =JA? CE= B IIAIJ=J FE =FFH FHE=J =BBE@=HA=@K E JAHLA J HAC = A J=HA`FKH? E JE E EJE?DA \=HJ %? $ + IJ F A= F JAHAHAC = A J=HAIJ=J= A`E HE H@E @A A @EIF IE E ELECA JE =?DA? IE@AH=J?DAAIIA CCEE =IIE =F=HJA =FF=HJA C =J= AH= C =BBE@= @ E LA?A= = ACEI = E AFHE =HE= = @ABE E E A@AEI EFHE? FECA AH= E@A = =JAHE=,K>>EIKI?EJ= E B=JJE IE= =I?A J=@EFH?A@AHA= =HE ACEBE?= E A@E J=F=HJA@A = =JAHE=FHA?A@A JA A JA@A ACEBE?=J= I?A J=?DA FK?AHJ CEKIJEBE?=HIEIK =>=IA@EAIECA A@EHE H@E @A =@EI?EF E = IE= \E JAHLA J H =JEL K L IKJA EJH FF = FE>=IJEFA I=HA= A @EIF IE E E?DAHE? I? K LE@EHEJJE @E?KE= =5A E A11@A +=F 1@A + @E?AFAHAIIAHA=BBE@=JE= \7BBE?E ACEI =JEL @EK E EIJAH A I JJH=JJE= @E>=JJEJ F=H = A J=HA )FH F IEJ @AC E IJ=? E ACEI =JELEAHAC = A J=HE?DAF II BHA =HA ILE KFF @A \A C LAH A J \ +5- H=?? = @= JH= \= JH E HE? HI =@K = ACEI = E A AKJH= A HEIFAJJ = \= @= A J @AC EILE KFFEJA? CE?E]6A?D CO AKJH= EJOE ACEI =JE = @ HACK =JE ^A =B AIIE>E EJ @AC E H@E = A JE]. ANE>E EJOMEJDE >H =@HACK =J HOBH= A M H I= @=@=FJ=JE B?KHHA J =MIJ =@ECEJ= M H@^ +BH +5-! 6DAA / LAH A J1 FAH=JELA 2=HEI F $! A F?DA@EIF IE E E@EH= C HAC = A J=HA@A, 2 4 &@E?A >HA ""# 6AIJ K E? IK =@?K A J= E A= E EIJH=JEL==>H C=JA@= @ CI & # A@=GKA IJ HE ACEBE?=JA I E @E?=JA=? =!@A \=HJ %#)>H C= E E 5EHE? H@=?DAK =@A A LEJ E JH @ JJA@= = ACCA@EIA F EBE?= E A \=JJHE >K E A=EIE C E E EIJAHE@A F JAHA@EE E E=JEL= H =JEL=FAH =IA F EBE?= E AA@
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII! )HECK=H@?? HHAHE? H@=HA?DACH= F=HJA@A = =JAHE=? B KEJ= A + @E?AAH=CE IJ=J=HE HC= E =J= A, 2 4 &@E?A >HA ""# 6AIJ K E? @A =@?K A J= E A= E EIJH=JEL= E GK= A=LAL=FAH= JH >A? EKC=J AAIECA A@A =?HAI?A JAE B H =JE = E A= E E IJH=JEL=? GKA A@A \=? H=FHAIA JAIEIJA =@E@?K A J= E A?=HJ=?A= H=?? C EA @ AHA =JELA H AE K =IJAII=B JA 6H= \= JH E @ CI & #=>H C=I E F=HJAE?EJ=J 6AIJ K E? ]HE=IIAJJ= @ ^ GKE @E = =JAHE=? HECK=H@ = =I =@?K A J= E AA AJJH E?= 1 K LE? @E?E@EHE=IIAJJ E B=JJE FAHIACK FE? AEFHA?A@A JEJAIJE K E?E EIJEE BE A@A =? F AJA = =JJH=LAHI \=>H C= E A@EJKJJ= = ACEI = E AFHA?A@A JA K =I?A J=?AHJ= A JA@ LKJ==?DA= HEI?DE FAH E ACEI =J HAIJ=J= A IJ= JAE K L HEF=HJ @E? FAJA AJH=5J=J A 4ACE E @EE L=@AHA= >EJE@E? FAJA =HACE = A 1 J= @ FAH E IJH + @E?A FH?A@A @ AI=JJ= A JA A =@EHA E A FF IJ==GK= J HA= E =J? E?EJ=J, 2 4 HEI?DE=@EFH @KHHA K L= A JA =J= J JA KJ=IAF=H= E AJH=E L= E A= E EIJH=JEL= AE L= E AJA? CE?= 7 =IAF=H= E A?DAI JJA @A@EB=JJ \E@A=AHH=J=@E? IE@AH=HA = HE HC= E = E A= E EIJH=JEL=? ABK E = A= \KI @A AJA? CEA FEKJJ IJ?DA=? JH=HE AJA? CEA? AIJHK A JEE @EIFA I=>E EFAH =HE HC= E = E A@A \= E EIJH= E AFK>> E?= FAH =HAE CAC AHE = E A@A >=? BBE?AAFAH =HEGK= EBE?= E A@AEIAHLE EAH C=JE=E?EJJ=@E E )HECK=H@ >=IJEGKEHE? H@=HAGK= J HE AL=J @= \ +5- A J 4=FF HJ IK IEIJA =@EHAC = E AEJ= E= HA= E =J A \= >EJ @A 4ACK =J HO4AB H 2H CH= A 1 J= A@?K A J LA EL==?KJ= A JA ALE@A E=J= =IJHAJJ= A A?AII=HE=? AIIE AJH=HEB H = E HE=IIAJJ A A =JAHEA@EFH FHE=? FAJA = B=JJEI= LEE?=F = =2HAIE@A =@A + IEC E EF JAHE@EE @EHE A? H@E = A J AE? BH JE@A A= E EIJH= E E@EIAJJ HAFAH=IIE?K H=HA=?DA \K EB H EJ A \ CA AEJ @AC EE JAHLA JE@EHE=IIAJJ AIA F EBE?= E A?D K F JAHA@E=JJEL=HAIFA?EBE?DAE E E=JELAE?=I @EE AH E=@A \= E EIJH= E A? FAJA JA?BH =HJ? E#A' ACCA #' ''%? A @EBE?=JE@= \=HJ ACCA '!,ELAHI= A JA FAHE]JAIJEK E?E EIJE^ =HA@= E A@AC EI?DA E@AC E=JJE H =JELEAH==BBE@= J==@=FF IEJAIJHKJJKHA@A =2HAIE@A =@A + IEC E LLAH,EF=HJE A J @A =BK E A FK>> E?=A K? A FAH =IA F EBE?= E A?BH =HJ %? " ACCA& =H ''' #,A ACEBE?= E AAJAIJEK E?E@E H A??AH A JEFH?A@E A JE= E EIJH=JELE` ACCA@E IA F EBE?= E A''& @EIF IE E AF E=>H C=J=@= \=HJ!?! ACCA '!
" 1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A = E EIJH=JEL=AE FEAC @A A1+6 A@= EFH FHE E IKFAH= A J @E JA@A A?HEJE?EJ IJ HE?DA@A \= E EIJH= E AEJ= E= = HACEIJH=J E F=HJE? =HA A >EA E ''& AH=IJ=J =JJHE>KEJ =?DA= >A ABE? ABBAJJ @A A K AH IAE E E=JELA@EA C LAH A J=LLE=JA A IJH 2=AIA A@= =? IACKA JAJH=IB H = E A@AEH=FF HJEJH== E EIJH= E AA?EJJ=@E E! + IE@AH= E EGKAIJAF EHEFHAIAA= FE= A JA=HC A J=JA@= \ +5- A \= JHAJJ= J J H=FF HJ @A!IK \E F=JJ @A AF EJE?DA@EA C LAH A J AE@ELAHIEIEIJA E= E EIJH=JELE " 8A E= H==? IE@AH=HA IAFFKHFAH?A E =@A AC=IFA?EBE?=@=?KED=JH=JJ HECE AE + @E?A@E IJH E JAHAIIA? A=?DAE @ CI &BA> >H=E # " IK 5EIJA =FK>> E? @E? AJJELEJ 52+`?DAI=H E JA CH=J A FHE =@ FAH=@A @A?HAJ E JACH=JEL A? HHAJJEL E? HI @E@ABE E E A # E GK= AFAH= JH E H@E A@EJA F IJ=J E FHE FHA@EIF IJ @= / LAH IK =>=IA@EK =@A AC=? JA KJ= A = ACCA '! =@EIF IE E A?DAGKEHE AL= \=HJ @A = ACCA '! E GK= AD==KJ HE =J E / LAH = ]HE=IIAJJ A? H@E = A J @A A @EIF IE E ELECA JEE =JAHE=@EI?EAJ @A \E B H = E A^ ==?DA` E B H =@A HE LE AIFHAII =EFHE? FEA?HEJAHE@EHAJJELE@E?KE= \=HJ @A = ACCA #' ''%? AI IJEJKEJ @= \=HJ ACCA '!` = =]? @EBE?= E A@A = H =JEL=FHE =HE=HAC = JA = =JAHE=^ $ + I??AFEJ= =@A AC=D=ALE@A JA A JA@EIF IJ FAH =? F AIIE L=IEIJA = E A@A = H =JEL=LECA JA? E JAHLA JEE L=JELEA@E! +5-4ACK =J HO4AB H E 1J= O 2=HEI FF "II 2KHHE AL= @ E HEJ=H@ @A IJH 2=AIA A \=LLE @EK =HEB H =? F AIIEL=@A IEIJA =HAC =JEL \ +5- IAC = =? A>K AFH=JE?DA=?K AAIFAHEA AEJ= E= A A?= F @A \E FEAC @A A K LAJA? CEAFAH =HE@K E A@E? IJEA AHE= E EIJH=JELE?=I @EA??A A = AE E E=JELAE JA =@E A FH?KHA A J=LLE=JA@= E EIJAH @A \A? E= I JJ E A= @ E ]1J= O\ILEC H KI =FFH =?DJ A C LAH A J^ F "# " +5-! 6DAA / LAH A J1 FAH=JELA?EJ A 4=FF HJ \A C LAH A J @ABE EJ GK= A]JDAKIA BBE B H =JE = @? K E?=JE JA?D CEAI = @F=HJE?K =H OJDA 1 JAH AJ =I=J J =?DEALA>AJJAHC LAH A J^ F 5K A@AIE JA =L =?DAE FE HA?A JA +5- # - C LAH A JB H*AJJAH/ LAH A J 2=HEI # 1 J= IA I E GKAIJ 8 K A -,- /1 8) 1 1 + @E?A@A \= E EIJH= E A@ECE J= AAE @A?HAJ E JACH=JEL A? HHAJJEL? IE@AH= E ECA AH= E $ +BH =HJ?! AJJ = ACCA# =H ''% #'
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII # @EBE?=IEC EBE?=JEL=I FH=JJKJJ FAH ABE = EJ FHALEIJA@= = AJJAH= > @A FHE? = =@@ LAIE=KJ HE =E / LAH =]HELA@AHA =@EI?EF E = LECA JA= BE AFHA?EFK @EC=H= JEHA =FE = FE=@EIF E>E EJ @EIAHLE E HAIEFAHLE=JA A =JE?=@= AFK>> E?DA= E EIJH= E EA@=C E= JHEI C CAJJEFK>> E?EA@E=IIE?KH=HA=E?EJJ=@E EA= AE FHAIA \=??AII =J= EIAH LE EIA? @ E?HEJAHE @A = =IIE =IA F EBE?= E A@AC EIJHK A JEA @A AFH?A@KHA A?AII=HEA A HEIFAJJ @AEFHE? FE@EACK=C E= = @EI?HE E = E AA@A = H =JEL=IK =HEIAHL=JA =@AE@=JEFAHI = E^ -@E ABBAJJEI E JA HA@AEFHE? FE@E?KE= =?EJ=J= AJJAH=>FK CEK IJEBE?=HA JA@A A@EIF IE E E? JA KJA AE@KA@A?HAJE ACEI =JELEFHA@E IF IJE@=,EF=HJE A J FAH \E L= E A@A =2HAIE@A =@A + IEC E E GK= E K CE@=? IJEJKEHAK = AH=IEIJA = E A@A = H =JEL=LECA JA E L= FH B @= A JA = =JAHE= )HC A J GKAIJ? BAH =J @= = FHAIA =@EK AIFHAII HEBAHE A J = = AJJAH=>= \E JAH @A =]FHA AI I=^ @A @ CI " #IK 52+ =B @= A J FH FHE @A \E JAHLA J HEB H =J HAHA= E =J CE? GKA FHE FH LLA@E A J %,= = AJJKH=@AC E=JJEF=H = A J=HEHA =JELE= = ACCA '! A AHC =?K EA A A JE@EK GK=?DAE JAHAIIA 1 = EJKJJ \=HJE? %=JJK= A=HJE? & @A @EIAC @E ACCAE E E= A JAFHA@EIF IJ @= / LAH AIIA @ HK>HE?=J 4E=IIAJJ E =JA HE=@EE B H =JE = E A ' ]FHA= K?E=L=^ =@EI?EF E =@EEIJEJKJE =BBAHA JE=@K = >EJ JA =JE??AHJ= A JAFE?EH? I?HEJJ HEIFAJJ = % =FHA AII=@A @ CI " # IJ=J=E JACH=J=IK??AIIEL= A JA? =IFA?EBE?= E A@A FHE?EFE @E?KE=? = AJJAH= > @A \=HJ =@E @E?=HA?DA A@EIF IE E E@E GKA @A?HAJ I @EHAJJAK E?= A JA=HA= E =HAE? H@E = A J A@E HE=IIAJJ @A A @EIF IE E ELECA JEE =JAHE=@EI?EAJ @A \E B H = E A \E JACH= E AD=HA?AFEJ K = FK JK= A IIAHL= E A? JA KJ= A F=HAHAB=L HAL AAIFHAII IK I?DA =@E@A?HAJ @= = + EIIE A=BB=HE? IJEJK E = E@A =+= AH= +BH :18 ACEI =JKH= += AH=@AE@AFKJ=JE * AJJE @A A/EK JAA+ EIIE EF=H = A J=HE #% @A @E?A >HA " & 1 JAIJ BE = A@A \=HJ BHKJJ @EK A A @= A J @A / LAH E JAH= A JAI IJE JKJEL @A =FHA?A@A JALAHIE A =IK=L J=E JACH=J = = AJJAH=> @A FHE? =@=K A A @= A J @A \ FF IE E A@AFKJ=JE*HAII= * =J A A E A JH= >E=FFH L=JE @= \)K =@A 5A =J +BH :18 ACEI =JKH= += AH=@AE@AFKJ=JE 4AI? J IJA CH=BE? @A \)IIA > A=!!@A!@E?A >HA ' )5%%$ 1 JAHLA JEKHCA JEE =JAHE=@EGK= EJ @A =HAC = E A HE=IIAJJ H = JEL A? @EBE?= E A` ACCA@EIA F EBE?= E A :18 ACEI =JKH= J E K C EJAH@E GKAIJ FH CAJJ =F=HJEHA@= # JJ >HA @=J=@EFHAIA J= E AE 5A =J
$ 1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A GKA AL?=J @=??AJJ @E]I?EAJ @A \E B H = E A^ IK??AIIEL= A JAE JH @ JJ,= FK J @ELEIJ=I IJ= E= A IEFK J=HAF E? A =@A AC=` A = LAHIE A HECE =HE= A JAFH F IJ=@= / LAH `FHAIA J=IIA =HCE E @\E JAHLA J FE AIJAIEHEIFAJJ = JAIJ F E=FFH L=J E =IIE =F=HJA =I?HELE>E E= JA HA@AEFH?EFEA?HEJAHE@EHAJJELE FKHE FHAIA =@EK FE E EJ=J K AH @E CCAJJE@?K A J= E A= E EIJH=JEL=A AJJH E?= BEH =A AJJH E?= HE HC= E = E A@E)12) AIJHKJJKHA@A =2HAIE@A =@A + IEC E @A@E?=JA= \E B H =JE = E A@A \= E EIJH= E A 1?EJ=J =HJ % E B=JJE =LHA>>A? IA JEJ IA =@K>>E = ACEI =J HA @A AC=J K E JAHLA J =? H=FE FAHL=IEL IE=E =JAHE=@EBEH =A AJJH E?= AIIA @ =? H=IJ=J=HA?AFEJ= =@EHAJJEL=? K EJ=HE=E =JAHE= = JA F @A =FHAIA J= E A@A @EIAC @E ACCA@EIA F EBE?= E A! IE==?DAE H@E A= =HE HC= E = E A@A AIJHKJJKHA@A = 2HAIE@A =@A + IEC E @A@E?=JA= \E B H =JE = E A= E EIJH=JEL=A @A \)KJ HEJ FAH \E B H =JE?= A =FK>> E?== E EIJH= E A)12) 7 =@A AFE LEIJ IA @EBE?DA=FF HJ=JA= JAIJ @A \=HJE? A = LAHIE A@ABE EJEL=HECK=H@=FH FHE \)12) @A =GK= AE E E= A JAIEFHA LA@AL= =HEIJHKJJKH= E A A JHA A JAIJ @ABE EJEL @A =@EIF IE E AE AI= A C EHEBAHE A J =@AII= LA KJ A H= =E J?DAE / LAH @A?EIAE K IA? @ JA F @EI FFHE AHA =HE@AJJ=)KJ HEJ! FAH CEKIJEBE?=>E A?DAIEIE=IJH=?E=J @= =@A AC=E AI= AE HEBAHE A J =J= AFHALEIE A FKHFHAIK A @?DA J= AIJH=?E IE=IJ=J E F IJ @=AIECA A]@ELAHIA^ A@=K =GK=?DA KHCA = E IIAGKE = AGK= E =@EIF IE E AIK \)12) IJ=J=E IAHEJ= A ]+ @E?AE =JAHE=@EFH JA E A@AE@=JEFAHI = E^ @ CI!CEKC =?KE)IIA > A= D==FFH L=J E % =H )IACKEHAE FH CAJJ IJ=J @EBE?=J @= =+= AH=@AE@AFKJ=JE!@E?A >HA AHE LE=J = A+= AHA@= 2HAIE@A JA@A = 4AFK>> E?=? AII=CCE JEL=J =EIA IE@A \=HJ %"+ IJ =FHE A! K L= A JA =FFH L=J @= 5A =J E #CEKC! E @EIAC @E ACCA IJ=J E?A E=J E LE=@ABE EJEL= @= =+= AH=E IK??AIIEL! KC E!! +BH F E@ CI!CA =E )JJK= E A@A =@EHAJJEL=''' '! +-HA =JE L==@K GK=@H? K EJ=HE FAH ABEH AA AJJH E?DA E / 7 #BA>>H=E!'! 5K AK JE AJ H A J=JAAL K E E@A \)12) L. )461 1 + A J = \=HJ $ E / +)55) + /174,) - ) =?KH=@E F?EJ FF! II E F=HJE? =HA = J=!=F "%
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII %! '$ E F=HJE? =HA=HJ %$? E! $! JHA?DA@EBBE?E A JA? @ELEIE>E A A AHEJ GKAIJ= FAH= E A@EE CAC AHE= ACEI =JEL= I FFHAIIE A@A \)12) A? JAIJK= A=L?= E A@A AIKA=JJHE>K E EE?=F =,EF=HJE A J FAH \E L= E A@A =2HAIE@A =@A + IEC E A = K L HC= EI JA? E?? IJEJKEJ E IA =@AII E + 12) = A FAH CA AEJ @E =JAHE= =LHA>>A@ LKJ? K GKAAIIAHAHA= E =J=? E@A?HAJE=JJK=JELE@A =@A AC=@E?KE= \=HJ = JA A @ IE?E E GKAIJ\K JE GK= K GKAHEBAHE A J = =@EI?EF E =@A \)KJ HEJ @EIAJJ HA 5E @AJJ F?\= E@EK =?AHJ= =CCE HA= FEA =@A =@A AC= A JAIJ HECE =HE,E@ELAHI =LLEI E HA =J HAE 5A =J IK @EIAC @E ACCA IA? @ E GK= A E LA?A =@A AC= HEIK J=J=FE E?EIEL= A JAIJ BE = A@A \=HJ? AB HIAE GK=?DA @ L HHA>>AJAIJE E=HA = @ELAHI=HK>HE?=?DAB=HEBAHE A J FE = =]E B H =JE = E A^ @A = FK>> E?== E EIJH= E A >A I = FE FAHL=IEL??AJJ @E]I?EAJ @A \E B H = E A^!! 1 LAHEJ HEIK J=? E A@E=J=ALE@A =@= JA HA AJJAH= A@A = @EIF IE E AE? A J?DA =@A AC=IE=FE = FE= A =IK=LAHIE A BE = A )? BAHEHA= \E JAHLA J @A AC=J K HE AL= JA =HCE A@\E JAH LA J =?DA A JAIJ E?A E=J @=K JE IA =E =FHAIA =E AII @A HE LE =EFHE? FEA?HEJAHECA AH= E@E?KE= \=HJ @A = ACCA #' ''% @=EGK= EIA >H=@EI?A @AHAFAH \=FFK J K CA AH= E =J F JAHA@\E JAHLA J E B=L HA@A \-IA?KJEL!" )FHAI?E @AHA E B=JJE @= A@ELAHIALAHIE EE JAH? HIA = H =@E@A A! A@EIF IE E E?EJ=JAIA \= JH B H = =@A AC=@E?KE= \=HJ? AJJ @A = ACCA $%$ ''$ A =GK= AIE=KJ HE =L=I =?DA = @EBE?=@A @ CI!' ''! == BE A@E] = JA AHAE H=?? H@ JH= A=JJELEJ @A /=H= JAFAH =JKJA =@A AFAHI AA@E= JHE I CCAJJEHEIFAJJ = JH=JJ= A J @AE@=JEFAHI = EAGKA A@A \)KJ HEJ FAH \E B H =JE?= A = FK>> E?== E EIJH= E A U ^ =E BE A A?=I @A \=HJ %$@A @ CI '$! FHA I?E @A@A JKJJ @=AIECA A@EH=?? H@ JH= \)12) AE /=H= JA AJA @AIA =EK E?= A JA =HELA@AHAE ACH= A JA =@EI?EF E =HA =JEL== I CCAJJ?KE =BBE@=J= \E B H =JE = E A @A =FK>> E?== E EIJH= E A!! +BH :18 ACEI =JKH= 5A =J @A =4AFK>> E?= 4AI? J IJA CH=BE? @A \)IIA > A=!# @A \ =H!!" 1 J= IA I LA@E) )6) 1 1 =JAH =IA F EBE?= E A + A J = = ACCA ' KC E! ' E /E H @EH =! F '
& 1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A C=@E IJH E JAHAIIA @EFAHI = FE=A@E?EIEL=FH FHE FAH?D? JA KJ= A = ACCA '! =GK= A`CE L=GKEHEFAJAH `=LLE= =B=IA @A HE=IIAJJ =BBE@=J==@A?HAJE ACEI =JELE?DAIE?=H=JJAHE = I A J= J FAH =?=F=?EJ @EHEIEIJA =JE = E A@A =@EI?EF E =FHALECA JA GK= J FAH =F IIE>E EJ @EE L=HACH= @A A JA A AHEJ GKA =IJAII=@EI?E F E = E?E@A @ FAH= JH I = ELA @E H = E AFHE =HE= 2=H=@ II= A JA FAH A?=I @A = H =JEL=E =JAHE=@E= E E IJH= E AA AJJH E?=FH FHE E FAHL=IEL E JAHLA J =BBE@=J = ACEI =J HA @A AC=J AIF A= HEI?DE @EK =EFAH HAC = A J= E A`E JAI=E IA I =J `A= \=IIKH@ @EE CAII=HAE H A@EH= C FHE =HE IJAII KJE E @A AJA? CEA =?DA AE?=IEE?KEJ= AE FEAC @=F=HJA@A \= E EIJH= E A HE?DEA@A A?AII=HE= A JAK =@EI?EF E =CEKHE@E?=FK JK= A A?DA A =B JA ACEI =JEL= 2AH?EJ=HA K L= A JAE + IEC E @E5J=J E B=JJE E HE=IIAJJ @ALA? IEIJAHA A =HEB H =@AE? JA KJE@A =@EI?EF E =@EK =?AHJ= =JAHE==JJH=LAHI E JAHLA JE@E ACEI = E AFHE =HE=E L=JELE IA =JA AH? J FAH @E]?HEJAHE@E IA F EBE?= E A I IJ= E= A = ACCAHE A J @AC E AHE>KH?H=JE?EA@E @AHAC = A J= E A ^!# 1 FE F=HJE E ABBAJJE E + @E?A@A \= E EIJH= E A@ECEJ= A IA >H= @=H K C FH FHE =@K A??AII @EHAC = E A IFA?EA =@@ LA?EIE E EJ==F HHA@EIF IE E E@E?=H=JJAHACA AH= A @EFHE?EFE ==@@EHEJ JKH=I\EHHECE@EI? H AHAC = A J=HEFHAAIEIJA JE AGK= E=LHA>>AH E LA?AF JKJ FE KJE A JA? B KEHAE K =IAF=H=J=A? JA F H= A= H=?? J= HC= E?=@E H AIA? @=HEA!$ 4=?? J= GKAIJ\K JE = F EFHA LEIJ=E LE=CA AH= A@= = ACCA@EIA F EBE?= E AFAHE # =GK= A` @EBE?= @ FAH \A AIE =L J= \=HJ @A = ACCA #' ''%?BH E F=HJE? =HAE K L? =! >EI`D=AIFHAII= A JA=KJ HE =J E / LAH A A =JAHEA@E? FAJA =AI? KIEL=@A 5J=J =? F AJ=HA E FH?AII @E? @EBE?= E A@E?E=I?K = =JAHE==JJH=LAHI \A = = E A =?DA? JAIJK= A JA= @A?HAJ ACEI =JEL @EHE=IIAJJ @E]K =H=?? J= HC= E?=@A A H AHAC = A J=HEHAC = JE = A@AIE = =JAHE=!# + I 5J ) / "?EJ FK J! "!$ +BH + I 5J IA =JJE H %BA>>H=E # ''# " HA?= JAF=HAHAIK I?DA =@E+ @E?A@A \= E EIJH= E A@ECEJ= A E F=HJE? =HAFK J '
1,\- E= 2EAJH= CA 1 + @E?A@A \= E EIJH= E A@ECEJ= A A FH?AII ' IA@A?=I =@ACK= @ A= = K L=@EI?EF E =@E ELA FHE =HE AIA F E BE?= @ A^ IA? @ E?HEJAHE@E?KE= IJAII =HJE?!% 1 @ABE EJEL= @K GKA = + @E?A@A \= E EIJH= E A@ECEJ= A IA >H= >A? HHEIF @AHA =@ABE E E A?DA@AE K LE? @E?E@EIAJJ HAD=@=J =J= E 1HJE IA? @ E GK= AAIIE? IJEJKEI? ACCEIFA?E= E F E?D FHAIKFF C = JHA H A >A I ] ACCEIFA?E= E =JA @EGKA =IFA?E= E = E A@AJAH E =J=@= =JA? A? E=A@= AAIECA A@A \ @EAH?=FEJ= EI ^!& =FH FHE GKAIJ=E JE =? AIIE AJH= \=JJ ACEI = JEL A ALE?A @A@A ILE KFF JA? A? E? `I JJ E A==? H=1HJE `HA @A \=JJ IJAII E IJ=>E AAFAH@ABE E E AI JJ F IJ = B KEHA@EI? FAHJAI?EA JEBE?DAA=FF E?= E EJA? E?DA?DA A@AJAH E AH= FE?? A CH= @E?HEIE 5EJH=JJ=@A =FEA ==BBAH = E A@EK ]@EHEJJ BH= E =HE ^ @AIJE =J A =I?EAJ @EAH ==@K K =?D\AII BH= E =HE!' 7 BH= E = A J @A @EHEJJ E FE F=HJE?DAIA >H==? HFE =??A JK=J @= + @E?A@E IJH E JAHAIIA LAIE? IE@AHE?DAAII? A@AJJ I FH= JA @A=BH= E =HAK JAHE H A JAK = >EJ @EI?EF E =HACE?EH? I?HEJJ BH= E =HE FAH \=FFK J?DA GKA @A =@?K A J= E A!% +BH =HJ @EBE?DA= \=HJE? @A = ACCA# =H ''% #' ACCA & LA >HA # "$ 5A F EBE?= E AAHE=IIAJJ H =JEL FAH \= # 1 =IIA = @EGKAIJ=AIFHAII=@EIF IE E A IEF II HACEIJH=HA FE E E@EI? H@= JE 5A? @ \)@K = =CA AH= A@A + IEC E @E5J=J AF=HJA@A =@ JJHE =K =F JAIJ H =JEL= IA? @=HE=@A / LAH A \= >EJ @A FH?AII @EHE=IIAJJ HE?DEA@AL=K = K L=A@ =KJ =FHALEIE A ACEI =JEL= F JA @ HEJA AHIEB @=J=E LE=CA AH= A A IJAII IA? @? =@A \=HJ @A = ACCA #' ''% E GK= A=KJ HE =E JAHLA JEHAC = A J=HE=E IA IE@AE? EA @A \=HJ %@A = ACCA " '&&?BH + I 5J ) / "?EJ FK J " $ FFKHA@EHAJJ= A JA A \=HJ %@A = ACCA " '&&?BH 2 +)4-8) - 5A F EBE?= E A A@E= JAHE=IIAJJ AIEIJA =@A AB JE A = ACCA@EIA F EBE?= E AFAHE '! 2HE A? IE@AH= E E E ) 5),7 1 =?KH=@E + @EBE?= E A IA F EBE?= E AAGK= EJ @A AHAC A )JJE@A + LAC 4 =% & =H # E = /EKBBH # FF %II 5A? @ = JHE =? JH=HE E / LAH =LHA>>AF JKJ FH?A@AHA =?DA=@K HE=IIAJJ @A A@EIF IE E EHAC = A J=HE@K GKA K =H=?? J=@E?=H=JJAHA AI? KIEL= A JA? FE =JEL I IK =>=IA@EK =IFA?EBE?==JJHE>K E A ACEI =JEL=?BH. 5 44-61,=EJAIJEK E?E EIJE=E? @E?E@EIAJJ HA FH BE E? IJEJK E = E E ) 5),7 1 =?KH=@E F?EJ FF II!& 1461 ]+ @E?E@EIAJJ HA^? FE A J @A =]@A? @EBE?= E A^ E ) 5),7 1 =?KH=@E?EJ F '!' 1461 F?EJ FF 'A
! 1 B H =JE?=A@EHEJJ 1 + @E?A@A \= E EIJH= E A@ECEJ= A = E EIJH=JEL= @A@E?= @ IEAI? KIEL= A JA= =@?K A J= E A= E EIJH=JEL=? IE@@AJJ=@ECEJ= AAJH= =I?E= @ GKA =?=HJ=?A=?D =JH= IE E A@=GKAIJ\K JE == =FHA?A@A JA 7 BH= E = A J ALE@A JA A JAE FKJ=>E AE =IIE =F=HJA= = H =@E@A AC= ==??A JK=J `IAF IIE>E A`@= @A?HAJ @A AC=J