8 N:DLHJBG=D:D>HE=HKJHQG:YIJH=J:FF: NBG:GKBJH<:GBYH;HJHLGH=H D:IBL:E:IJ?>IJBYLBC :<<Zkbe_gdhkldeb_glkdbcf_g_^`_j NbebZe;Zrdbjkdbc:;B;=GBDhce Hlkmlkl\b_ ^hklZlhqguo h[hjhlguo kj_^kl\ m ihl_gpbZevguo ihdmiZl_e_c lh\Zjh\ b hkljZy dhgdmj_gpby f_`^m ijh^Z\pZfb \ukhdhebd\b^ghc ijh^mdpbb \ugm`^Z_l ihklZ\sbdh\ i_j_oh^blv d ij_^hklZ\e_gbx hlkjhqdb ieZl_`Z k\hbf ihdmiZl_eyf beb d bo lh\Zjghfm dj_^blh\Zgbx dZd d gZb[he__ _kl_kl\_gghc b jZamfghc nhjf_ aZ\h_\Zgby jugdZ < Jhkkbb nZdlhjbg]h\u_ hi_jZpbb _s_ g_ ihemqbebrbjhdh]hjZkijhkljZg_gbyLhjfhahfgZimlbborbjhdh]h jZkijhkljZg_gby y\ey_lky eb[h ihqlb ihegh_ hlkmlkl\b_ khhl\_lkl\mxsbo nbgZgkh\uo bgklblmlh\ eb[h g_`_eZgb_ b g_mf_gb_ kms_kl\mxsbo ijbklmiblv d j_r_gbx khhl\_lkl\mxsbo ijh[e_f NZdlhjbg] y\ey_lky bgkljmf_glhf h[kem`b\Zgby lh\Zjgh]h dj_^blZ Lh\Zjguc dj_^bl klZe \ ^\Z^pZlhf \_d_ h^gbf ba ]eZ\guo \b^h\ ijZ\hhlghr_gbc f_`^m ijh^Z\phf b ihdmiZl_e_f ijb^y gZ kf_gm hieZl_ lh\Zjh\ ih nZdlm ihklZ\db H^gZdh gZ ijhly`_gbb ^ebl_evgh]h\j_f_gbij_h[eZ^Zeb^hdmf_glZjgu_nhjfuih]Zr_gby lh\Zjgh]h dj_^blZ ^_[blhj \uibku\Ze ijh^Z\pm \_dk_ev beb hldju\Ze \ _]h ihevam Zddj_^blb\ LZdZy nhjfZ jZkq_lh\ ijb\h^beZ ^_[blhjZ d ba\_klguf g_m^h[kl\Zf jhklm gZdeZ^guo jZkoh^h\ b h[yaZgghklb ih]Zkblv lh\Zjguc dj_^bl lhqgh \ kjhd g_aZ\bkbfh hl \hafh`guo nbgZgkh\uo ljm^ghkl_c G_ `_eZy \h\j_fy hl^Z\Zlv ^he]b ihdmiZl_eb klZeb hldZau\Zlvky hl ^hdmf_glZevgh]h hnhjfe_gbyk\hboh[yaZl_evkl\ijb[_]ZydlZdgZau\Z_fhfmieZl_`m ih hldjulhfm kq_lm KlZjZykv khojZgblv aZ\h_\Zggu_ jugdb k[ulZ ijh^Z\pu [ueb \ugm`^_gu kh]eZkblvky k baf_g_gb_f ihjy^dZ jZkq_lh\aZihklZ\ey_fmxijh^mdpbxH^gZdhi_j_oh^djZkq_lZfih hldjulhfm kq_lm \ua\Ze j_adh_ iZ^_gb_ ieZl_`ghc ^bkpbiebgu ihdmiZl_e_cijZdlbq_kdb\h\k_ffbj_Wlh\k\hxhq_j_^vijb\_eh d agZqbl_evghfm jhklm jbkdZ ihl_jb ebd\b^ghklb ^ey ijh^Z\pZ kijZ\blvky k dhlhjuf fh]eb lhevdh djmigu_ dhfiZgbb k ^b\_jkbnbpbjh\Zggufb ijh^Z`Zfb >ey lh]h qlh[u ih^^_j`Zlv ijh^Z\ph\\lZdhckblmZpbb\hagbdnZdlhjbg]dhlhjucklZe ij_`^_ \k_]hkj_^kl\hfnbgZgkh\h]hh[_ki_q_gby^_yl_evghklbijh^Z\pZgZ \j_fy \ugm`^_ggh]h hl\e_q_gby h[hjhlguo kj_^kl\ gZ kjhdb I_qZlZ_lkyihfZl_jbZeZfWdhghfbq_kdh]h\_klgbdZM=GLM 9 lh\Zjguo dj_^blh\ _]h ihdmiZl_eyf Z lZd`_ Z^fbgbkljZlb\gh]h j_]mebjh\Zgbybmq_lZ_]hijh^Z` K_cqZk b \ Jhkkbb lh\Zjguc dj_^bl klZgh\blky \k_ [he__ ihimeyjguf Ijh[e_fu k dhlhjufb klZedb\Zxlky ihklZ\sbdb ijb bkihevah\Zgbbwlh]hbgkljmf_glZ-ojhgbq_kdbc^_nbpblh[hjhlguo kj_^kl\ keh`ghklv dhgljhey k\h_\j_f_gghklb b lhqghklb ieZl_`_c hlkmlkl\b_f_lh^bdbhij_^_e_gbyebfblh\lh\Zjgh]hdj_^blh\Zgbyb j_kmjkh\^ey^Zevg_cr_]hjZa\blby-fh`ghe_]dhj_rblvkihfhsvx nZdlhjbg]Z H^gZdh m gZk hg g_ ihemqbe ihdZ ^he`gh]h jZkijhkljZg_gby Hkgh\gZy ijbqbgZ \ lhf qlh ih jhkkbckdbf aZdhgZfnZdlhjbg]hffh]mlaZgbfZlvkylhevdh[ZgdbGhh^gb[Zgdb kfmsZxl keh`gu_ ^ey mijZ\e_gby jbkdb ^jm]b_ - hlkmlkl\b_ h[s_ijbagZgguo Zijh[bjh\Zgguo \ hl_q_kl\_gguo mkeh\byo l_ogheh]bclj_lvbo-ljm^h_fdhklv BlZdnZdlhjbg]-wlhkbkl_fZnbgZgkh\h]hbhj]ZgbaZpbhggh]h h[_ki_q_gby lh\Zjgh]h dj_^blZ wlh gZb[he__ ^bgZfbqgh jZa\b\Zxsbckyk_dlhjfbjh\hcnbgZgkh\hcbg^mkljbbGZb[hevrbc wnn_dl ba nZdlhjbg]h\h]h h[kem`b\Zgby ba\e_dZxl ij_^ijbylby gZijZ\eyxsb_ ihemq_ggu_ hl [ZgdZ kj_^kl\Z gZ jZkrbj_gb_ k[ulZ k\h_c ijh^mdpbb Hg fh`_l ^hklb]Zlvky aZ kq_l \hajZklZgby qbkeZ ihdmiZl_e_cbebm\_ebq_gbyhl]jmahd NZdlhjbg]h\h_ h[kem`b\Zgb_ ij_^klZ\ey_l kh[hc dhfie_dk nbgZgkh\uo mkem] ihklhyggh hdZau\Z_fuo NZdlhjhf [Zgdhf beb ki_pbZebabjh\Zgghc nZdlhjbg]h\hc dhfiZgb_c deb_glm \ h[f_g gZ mklmidm ^_[blhjkdhc aZ^he`_gghklb Wlb mkem]b \dexqZxl nbgZgkbjh\Zgb_ ihklZ\hd lh\Zjh\ kljZoh\Zgb_ dj_^blguo jbkdh\ mq_l khklhygby ^_[blhjkdhc aZ^he`_gghklb b j_]meyjgh_ ij_^hklZ\e_gb_ khhl\_lkl\mxsbo hlq_lh\ deb_glm dhgljhev k\h_\j_f_gghklbhieZlubjZ[hlmk^_[blhjZfb NbgZgkbjh\Zgb_ ihklZ\hd lh\Zjh\ ijb nZdlhjbg]_ ij_^mkfZljb\Z_l qlh g_f_^e_ggh ihke_ ihklZ\db ijh^Z\pm NZdlhj \uieZqb\Z_l \ dZq_kl\_ ^hkjhqgh]h ieZl_`Z agZqbl_evgmx qZklv kmffu ihklZ\db < jZaebqguo kljZgZo fbjZ jZaf_j ^hkjhqgh]h ieZl_`Z khklZ\ey_l hl ^h hl kmffu ihklZ\db HklZlhd kmffZ ihklZ\db fbgmk kmffZ ^hkjhqgh]h ieZl_`Z fbgmk nZdlhjbg]h\Zy dhfbkkby \uieZqb\Z_lky ijh^Z\pm \ ^_gv ihklmie_gby^_g_]hl^_[blhjZ Ihkdhevdm nZdlhjbg] y\ey_lky ^he]hkjhqghc ijh]jZffhc nbgZgkbjh\Zgby h[hjhlgh]h dZiblZeZ ^h]h\hj nZdlhjbg]h\h]h h[kem`b\Zgby aZdexqZ_lky gZ g_hij_^_e_gguc kjhd b [m^_l I_qZlZ_lkyihfZl_jbZeZfWdhghfbq_kdh]h\_klgbdZM=GLM 10 ^_ckl\h\Zlv kdhev m]h^gh ^he]h ihdZ h[_ klhjhgu m^h\e_l\hj_gu \aZbfgufkhljm^gbq_kl\hf ;eZ]h^Zjy nZdlhjbg]h\hfm h[kem`b\Zgbx ihklZ\sbdm kha^Zxlky mkeh\by ^ey dhgp_gljZpbb _]h gZ hkgh\ghc ijhba\h^kl\_gghc ^_yl_evghklb mkdhj_gby h[hjhlZ _]h dZiblZeZ ih\ur_gby \ g_f ^heb ijhba\h^bl_evgh]h dZiblZeZ b khhl\_lkl\_ggh m\_ebq_gby _]h ^hoh^ghklb IhklZ\sbd fh`_l ieZgbjh\Zlv ihklmie_gb_ kj_^kl\ b ih]Zr_gb_ kh[kl\_gghc aZ^he`_gghklb :\Zgkbjh\Zgb_ ihklZ\sbdZ nZdlhjbg]h\hc dhfiZgb_c jZaf_j dhlhjh]h aZ\bkbl hl l_dms_]h mjh\gy ijhba\h^kl\Zg_kha^Z_l^eyg_]hgh\h]hiZkkb\Zke_^h\Zl_evghg_ mf_gvrZ_l _]h dj_^blhkihkh[ghklb NZdlhjbg] mf_gvrZ_l kmffm [ZeZgkZihklZ\sbdZbmemqrZ_l_]hkljmdlmjmm\_ebqb\ZyihdZaZl_ev khhlghr_gby kh[kl\_ggh]h b ijb\e_q_ggh]h dZiblZeZ Ijb aZdexq_gbb kh]eZr_gby h nZdlhjbg]h\hf h[kem`b\Zgbb ihklZ\sbd bf__l \hafh`ghklv hldZaZlvky hl kh[kl\_ggh]h rlZlZ kem`Zsbo \uihegyxsbo l_ nmgdpbb dhlhju_ [_j_l gZ k_[y nZdlhjbg]h\Zy dhfiZgby < j_amevlZl_ \hagbdZ_l hij_^_e_ggZy wdhghfby \ khq_lZgbbk\u]h^Zfbhldj_^blh\ZgbyhgZdhfi_gkbjm_l^hklZlhqgh \ukhdmxklhbfhklvh[kem`b\ZgbyIh^h[gh_h[kem`b\Zgb_^Z_l\k_ \ur_mihfygmlu_ ij_bfms_kl\Z lhevdh \ lhf kemqZ_ _keb ihemqZ_fu_ kj_^kl\Z bkihevamxlky ^ey m^h\e_l\hj_gby jZklmsbo ihlj_[ghkl_c\h[hjhlghfdZiblZe_ Hlf_lbf hkgh\gu_ hljZke_\u_ Zki_dlu nZdlhjbg]Z \ Jhkkbb <k_dhgljZdluihihklZ\dZflh\Zjh\fh`ghjZa^_eblvgZljb]jmiiu a^_kv dhgljZdl - g_ ^h]h\hj \ xjb^bq_kdhf kfuke_ Z ex[h_ kh]eZr_gb_klhjhghihklZ\d_k^_eZggh_gZijbf_jiml_faZdZaZih l_e_nhgm I_j\mx ]jmiim khklZ\eyxl jZah\u_ djZldhkjhqgu_ dhgljZdlu dZd wlh [u\Z_l ijb ihklZ\dZo h[hjm^h\Zgby \lhjmx ihklhyggh ^_ckl\mxsb_ ^ebl_evgu_ dhgljZdlu dZd wlh [u\Z_l ijb ihklZ\dZolhieb\ZbgZdhg_plj_lvx]jmiimkhklZ\eyxlj_]meyjgh ih\lhjyxsb_kydjZldhkjhqgu_dhgljZdlu^eyg_nlyghchljZkebwlh fh]ml [ulv ihklZ\db [_gabgZ q_j_a :AK Hkgh\gh_ ij_bfms_kl\h j_]meyjgh ih\lhjyxsboky djZldhkjhqguo dhgljZdlh\ gZ^ ^he]hkjhqgufb aZdexqZ_lky \ lhf qlh i_j\u_ kihkh[kl\mxl ijbgylbx Z^Zilb\guo ihke_^h\Zl_evguo j_r_gbc < blh]_ fh`gh ba[_`Zlv lj_[h\Zgby lh]h qlh[u [m^msb_ kh[ulby [ueb aZjZg__ \k_klhjhgg_ jZkkfhlj_gu k khhl\_lkl\mxs_c jZajZ[hldhc fh^_e_c Z^ZilZpbb d dZ`^hfm ba gbo <f_klh wlh]h [m^ms_fm ³iha\heyxl´ k\_jrblvky b ijhbkoh^bl Z^ZilZpby \ i_jbh^ \hah[gh\e_gby I_qZlZ_lkyihfZl_jbZeZfWdhghfbq_kdh]h\_klgbdZM=GLM 11 dhgljZdlh\ ebrv d l_f kh[ulbyf dhlhju_ ^_ckl\bl_evgh fZl_jbZebah\Zebkv <lhjZy \Z`gZy hkh[_gghklv lZdh]h jh^Z dhgljZdlh\ - gbadZy \_jhylghklv hiihjlmgbafZ hiihjlmgbaf \ ^Zgghf dhgl_dkl_ ij_ke_^h\Zgb_ ebqgh]h bgl_j_kZ k bkihevah\Zgb_f dh\Zjkl\Z e`b \hjh\kl\Z b fhr_ggbq_kl\Z \ hlebqb_ hl h[uqgh]h w]hbafZ k\hckl\_ggh]h ^_eh\uf hlghr_gbyf Wlh ijhbkoh^bl \ kbem ih\lhjy_fhklb dhgljZdlh\ b fZehagZqbl_evghklb ^ey klhjhg hl^_evgh\aylh]hdhgljZdlZqlhba[Z\ey_lhlljm^ghnhjfZebam_fhc hp_gdbjbkdZhiihjlmgbafZ ?s_ h^gZ hkh[_gghklv j_]meyjgh ih\lhjyxsboky dhgljZdlh\ bf__l ijyfh_ hlghr_gb_ m`_ d bkihevah\Zgbx nZdlhjbg]Z ^ey h[kem`b\Zgby khijh\h`^Zxsbo bo lh\Zjguo dj_^blh\ Ijb j_]meyjgh ih\lhjyxsboky dhgljZdlZo kgb`Zxlky ljZgkZdpbhggu_ ba^_j`db k\yaZggu_ k bkihevah\Zgb_f ki_pbZevguo kljmdlmj ih mijZ\e_gbx^_[blhjkdhcaZ^he`_gghklvx Bf_ggh wlb hkh[_gghklb oZjZdl_jgu_ ^ey lj_lv_c ]jmiiu dhgljZdlh\ ^Zxl \hafh`ghklv i_j_\h^blv ihklZ\db lh\Zjh\ j_]mebjm_fu_ wlbfb dhgljZdlZfb gZ nZdlhjbg]h\h_ h[kem`b\Zgb_ >hihegbl_evguf mkeh\b_f iha\heyxsbf ij_^iheh`blv ij_^ihqlbl_evghklv i_j_oh^Z gZ nZdlhjbg]h\h_ h[kem`b\Zgb_ ihklZ\hd dhgdj_lguo \b^h\ lh\Zjh\ y\ey_lky keZ[Zy weZklbqghklv kijhkZ gZ wlb \b^u lh\ZjZ qlh h[_ki_qb\Z_l ij_^kdZam_fhklv j_amevlZlh\ h[kem`b\Zgby gZ kj_^g_- b ^he]hkjhqgmx i_jki_dlb\m >ey nZdlhjbg]h\h]h h[kem`b\Zgby fh`gh j_dhf_g^h\Zlv \ i_j\mx hq_j_^v hnhjfe_ggu_ dhgljZdlZfb lj_lv_c ]jmiiu ihklZ\db ke_^mxsbo \b^h\ lh\Zjh\ ijh^mdlu iblZgby f_^bdZf_glu dhjf ^ey `b\hlguo ]b]b_gbq_kdb_ lh\Zju iZjnxf_jby b dhkf_lbdZ Z\lhaZiqZklb dZgp_eyjkdb_ lh\Zju [ulh\Zy l_ogbdZ kljhbl_evgu_ fZl_jbZeu [_gabg Z lZd`_ ihklZ\db jy^Z mkem] — lmjbklbq_kdbo j_deZfguob^j Hlghr_gb_ ijhkjhq_gghc aZ^he`_gghklb hljZkeb i_j_^ dj_^blhjZfb d f_kyqghc hl]jmad_ ijh^mdpbb \_kvfZ lhqgh oZjZdl_jbamxl kl_i_gv \ebygby djbabkZ g_ieZl_`_c gZ hljZkev Z agZqbl b gZ __ mklhcqb\hklv HljZke_\hc bg^_dk mklhcqb\hklb ^ey ibs_\hc ijhfure_gghklb khklZ\ey_l ^ey g_nl_i_j_jZ[Zlu\Zxs_c - AZf_lgh om`_ ihdZaZl_eb \ e_]dhc ijhfure_gghklb-b\fZrbghkljh_gbb- 155%. Ihl_gpbZevgZy ieZl_`_kihkh[ghklv hljZkeb aZ\bkbl g_ hl Z[khexlghc\_ebqbguijhkjhq_gghcaZ^he`_gghklbdj_^blhjZfZhl I_qZlZ_lkyihfZl_jbZeZfWdhghfbq_kdh]h\_klgbdZM=GLM 12 kZev^h ijhkjhq_gguo h[yaZl_evkl\ Hlghkbl_evgh [eZ]hihemqgufb ih wlhfm ihdZaZl_ex \u]ey^yl g_nl_i_j_jZ[Zlu\ZxsZy b ibs_\Zy ijhfure_gghklv - ^ey gbo hlghr_gb_ kZev^h ijhkjhq_gguo h[yaZl_evkl\ d f_kyqghc hl]jmad_ ijh^mdpbb khklZ\ey_l khhl\_lkl\_ggh b >ey nbgZgkh\hc mklhcqb\hklb hljZkeb j_rZxs__ agZq_gb_ bf__l ]ZjZglbjh\Zgguc ieZl_`_kihkh[guc kijhkk\yaZgguckhjb_glZpb_cgZdhg_qgh]hihlj_[bl_ey Djhf_ ijh^mdlh\ iblZgby b g_nl_ijh^mdlh\ rbjhdh]h ijbf_g_gby nZdlhjbg]h\h]h h[kem`b\Zgby ke_^m_l h`b^Zlv \ hljZkeyo kh agZqbl_evguf ihl_gpbZehf jhklZ _fdhklb khhl\_lkl\mxs_]h lh\Zjgh]h jugdZ ^ey hk\h_gby dhlhjh]h ihlj_[ghklv \ ihklhygghf m\_ebq_gbb h[hjhlguo kj_^kl\ y\ey_lky hkh[_ggh hkljhc < ex[hf kemqZ_ gZb[he__ gZ^_`gufb \u]ey^yl ihklZ\db lh\Zjh\ jhagbqguf ihlj_[bl_eyf - ijh^h\hevkl\_gguf b ijhflh\ZjguffZ]ZabgZf:AKbl^ <klZ\ gZ nZdlhjbg]h\h_ h[kem`b\Zgb_ ihklZ\sbd g_k_l ^hihegbl_evgu_jZkoh^uihhieZl_nZdlhjbg]h\hcdhfbkkbbhieZl_ ^hihegbl_evgh]h jZ[hq_]h \j_f_gb dmjv_jZ gZ ih^\ha ^hdmf_glh\ hieZl_ ^hihegbl_evgh]h jZ[hq_]h \j_f_gb khljm^gbdh\[mo]Zel_jbb gZ \uiheg_gb_ k\yaZgguo k nZdlhjbg]h\uf h[kem`b\Zgb_f ijh\h^hd K nZdlhjbg]h\uf h[kem`b\Zgb_f k\yaZgu ^hihegbl_evgu_ ^hoh^ub\u]h^uihklZ\sbdZihemq_gb_^hihegbl_evghcijb[uebaZ kq_l \hafh`ghklb m\_ebqblv h[t_f ijh^Z` ihemq_gb_ hl nZdlhjZ g_h[oh^bfuo ^ey wlh]h h[hjhlguo kj_^kl\ b wdhghfby gZ g_hijZ\^ZgguoaZljZlZo HldZau\Zykv hl ba[ulhqgh]h [Zgdh\kdh]h dj_^blh\Zgby \ ihevamnZdlhjbg]ZihklZ\sbdi_j_klZ_lg_klbjZkoh^uihijhp_glZf aZ ihevah\Zgb_ dj_^blhf ih gZeh]m gZ ijb[uev k ijhp_glh\ ij_\urZxsbo klZ\dm P; iexk ih hnhjfe_gbx dj_^blZ j_]bkljZpby b kljZoh\Zgb_ aZeh]Z hieZlm jZ[hq_]h \j_f_gb khljm^gbdh\gZhnhjfe_gb_bih^]hlh\dm^hdmf_glh\^eydj_^blgh]h hl^_eZ m\_^hfe_gby gZeh]h\hc bgki_dpbb h gZf_j_gbb hldjulv kkm^guc kq_l b l ^ k\yaZggu_ k g_ij_^\b^_gguf jhklhf ijhp_glguoklZ\hd\kljZg_gZwdklj_ggmxfh[bebaZpbx^_g_`guo kj_^kl\ ijb gZklmie_gbb kjhdZ ih]Zr_gby dj_^blZ beb \uieZlu ijhp_glh\ \dexqZy mims_ggmx \u]h^m k\yaZggmx k \u\h^hf wlbo kj_^kl\bah[hjhlZ Djhf_ wlh]h i_j_oh^ gZ nZdlhjbg]h\h_ h[kem`b\Zgb_ kha^Z_l ij_^ihkuedb ^ey [he__ jZpbhgZevgh]h bkihevah\Zgby [Zgdh\kdh]h I_qZlZ_lkyihfZl_jbZeZfWdhghfbq_kdh]h\_klgbdZM=GLM 13 ebfblZdj_^blh\ZgbygZijbf_j^eyp_e_chldjulbyZddj_^blb\Z[_a ihdjulbyihemq_gby]ZjZglbb\_dk_evgh]hdj_^blZbl^ IjbnZdlhjbg]h\hfh[kem`b\Zgbbihy\ey_lkywdhghfbyaZkq_l ihemq_gby emqrbo p_gh\uo mkeh\bc gZ aZdmiZ_fuc lh\Zj - deb_gl hl^_eZ nZdlhjbg]Z fh`_l ihclb gZ khdjZs_gb_ kjhdZ hlkjhqdb ieZl_`Z ijb aZdmidZo lh\Zjh\ memqrblv k\hx ieZl_`gmx ^bkpbiebgm Z lZd`_ ihemqblv ]ZjZglbx aZsblu hl rljZnguo kZgdpbckhklhjhgudj_^blhjh\ijbg_k\h_\j_f_gghfjZkq_l_kgbfb \ua\ZgghfdZkkh\ufjZaju\hf Djhf_wlh]hwdhghfby^hklb]Z_lkybgZhieZl_^hihegbl_evguo f_kl \dexqZy hnbkgh_ h[hjm^h\Zgb_ b ^hihegbl_evgh]h jZ[hq_]h \j_f_gb khljm^gbdh\ hl\_lkl\_gguo aZ dhgljhev ^_[blhjkdhc aZ^he`_gghklbbijb\e_q_gb_nbgZgkh\uoj_kmjkh\ G_khfg_gguf ij_bfms_kl\hf nZdlhjbg]Z y\ey_lky aZsblZ hl ihl_jv ijb g_hieZl_ beb g_k\h_\j_f_gghc hieZl_ ^_[blhjZfb aZ ihklZ\e_gguc bf lh\Zj Z lZd`_ aZsblZ hl mims_gghc \u]h^u hl ihl_jb deb_glh\ aZ kq_l g_\hafh`ghklb ijb ^_nbpbl_ h[hjhlguo kj_^kl\ ij_^hklZ\eylv ihdmiZl_eyf dhgdmj_glgu_ hlkjhqdb ieZl_`Z b ih^^_j`b\Zlv ^hklZlhqguc Zkkhjlbf_gl lh\Zjh\ gZ kdeZ^_ <Z`gh ihfgblv qlh \_jgmlv ihl_gpbZevgh]h deb_glZ mr_^r_]h k_]h^gy d dhgdmj_glmaZ\ljZfh`_l[ulvg_\hafh`gh IjbnZdlhjbg]_lZd`_\hafh`gZaZsblZhlihl_jvk\yaZgguok hlkmlkl\b_fbebg_^hklZlhqghklvxg_ij_^\aylh]hdhgljhey ijh^Z`b ieZl_`_c ?keb ihklZ\sbdm dZ`_lky qlh k_]h^gy m g_]h ^hklZlhqgh q_eh\_q_kdbobnbgZgkh\uoj_kmjkh\^eyl_dms_c^_yl_evghklbijb jhkl_ h[hjhlZ [_a ih^^_j`db nZdlhjbg]h\hc dhfiZgbb ^_nbpbl j_kmjkh\fh`_lij_\jZlblvky\]eZ\guclhjfhajZa\blby Hij_^_ebf ]eZ\gu_ i_jki_dlb\u b ijh[e_fu nZdlhjbg]Z < hlebqb_ hl kblmZpbb gZ [hevrbgkl\_ ^jm]bo jugdh\ mkem] ihke_ ba\_klguo kh[ulbc Z\]mklZ ihl_gpbZevguc kijhk gZ nZdlhjbg]h\u_ mkem]b ijh^he`Z_l ij_\urZlv ij_^eh`_gb_ Wlh e_]dh h[tykgy_lky h[hkljb\r_cky \ j_amevlZl_ h[_kp_g_gby ijh[e_fhc ^_nbpblZ h[hjhlguo kj_^kl\ m ihklZ\sbdh\ lh\Zjh\ b mkem]<lh`_\j_fyiheguchldZahllh\Zjgh]hdj_^blh\Zgbyk\hbo dhgljZ]_glh\ fh`_l ijb\_klb b m`_ ijb\h^bl d hdhgqZl_evghfm ih^ju\m bo ebd\b^ghklb b l_f kZfuf d aZf_lghfm km`_gbx djm]Z k\hbo ihl_gpbZevguo ihdmiZl_e_c Z agZqbl b d kgb`_gbx h[t_fZ ijh^Z` Hq_\b^gh lZd`_ b kms_kl\_ggh_ km`_gb_ djm]Z ihl_gpbZevguoihlj_[bl_e_cnZdlhjbg]h\uomkem] GZb[he__ kms_kl\_gghc ijh[e_fhc hklZ_lky g_]hlh\ghklv I_qZlZ_lkyihfZl_jbZeZfWdhghfbq_kdh]h\_klgbdZM=GLM 14 ih^Z\eyxs_]h [hevrbgkl\Z hl_q_kl\_gguo dj_^blguo bgklblmlh\ d jZa\blbx nZdlhjbg]h\h]h h[kem`b\Zgby Hkgh\gZy ijh[e_fZ a^_kv qbklhf_lh^heh]bq_kdZynZdlhjbg]\Jhkkbbhlghkyllhddj_^blguf lh d ^bkdhglguf lh d bguf [Zgdh\kdbf hi_jZpbyf F_`^m l_f nZdlhjbg] g_ lhevdh g_ y\ey_lky qZklvx [Zgdh\kdh]h ^_eZ gh \ _]h hlghr_gbbg_dhjj_dlgh\hh[s_]h\hjblvh[³hi_jZpbyo´ihkdhevdm hg ij_^klZ\ey_l kh[hc ihklhyggh_ h[kem`b\Zgb_ gh gbdZd g_ jZah\u_ k^_edb <k_ wlh lj_[m_l ki_pbZevguo ijhp_^mj ijbgylby j_r_gbcbmijZ\e_gbyjbkdZfb <lhjZyijh[e_fZ-wlhg_]hlh\ghklvih^Z\eyxs_cqZklb[Zgdh\ kljZgu d kj_^g_kjhqguf bg\_klbpbyf \ gh\mx ^ey gbo hljZkev ^_yl_evghklb Hkgh\guf ij_iylkl\b_f a^_kv y\ey_lky g_ kZfh nZdlhjbg]h\h_ nbgZgkbjh\Zgb_ - hgh ih hij_^_e_gbx ij_^klZ\ey_l kh[hcdhjhldb_^_gv]b-Z^hklZlhqgh^ebl_evgucbhlghkbl_evgh aZljZlguc gme_\hc pbde k\yaZgguc k ihklZgh\dhc ^_eZ dhlhjuc ^Z`_ ijb gZebqbb ijhn_kkbhgZevghc dhfZg^u bkihegbl_e_c aZgbfZ_lhl^hf_kyp_\ <f_kl_kl_f\p_ehfi_jki_dlb\unZdlhjbg]Z\Jhkkbbke_^m_l hp_gb\Zlv dZd mf_j_ggh-hilbfbklbq_kdb_ H[ wlhf k\b^_l_evkl\m_l \ qZklghklb b mki_rguc lj_oe_lgbc hiul hl^_eZ nZdlhjbg]Z [ZgdZ Jhkkbckdbc dj_^bl dhlhjuc dZq_kl\_ggh i_j_jhk \ kha^Zgb_ [bag_k-gZijZ\e_gby \ :; B;= GBDhce h[kem`b\r_]h g_kdhevdh ^_kyldh\ lukyq ihklZ\hd lh\Zjh\ gZ jZaebqguo lh\Zjguo jugdZo B g_klZ[bevghklv nbgZgkh\hc kblmZpbb g_ fh`_l kem`blv k_jv_aguf ij_iylkl\b_fjZa\blbxnZdlhjbg]Z * Wdhghfbq_kdbc \_klgbd M=GLM ih^ j_^ ^.wg Jh^bhgh\hc EGK[ljm^h\M=GLM, 2001. –k 8-15. I_qZlZ_lkyihfZl_jbZeZfWdhghfbq_kdh]h\_klgbdZM=GLM