sou · GRB388d1 · 2004-01-01 00:00:00 — (QOLJW 6YHQVND .RPPXQI|UEXQGHWV XQGHUV|NQLQJ nU XSSJLFN GHQ JHQRPVQLWWOLJD ORNDO\WDQ L NRPPXQDQYlQGD IDVWLJKHWHU WLOO 'HWWD lU OlJUH lQ GHW QX DQYlQGD YlUGHW 'HQ JHQRPVQLWWOLJD ORNDO\WDQ PLQVNDGH XQGHU WDOHW 'H VHQDVWH nUHQ KDU GHW HQGDVW VNHWW VPn I|UlQGULQJDU PHOODQ nUHQ 'HQ JHQRPVQLWWOLJD XSSYlUPQLQJVNRVWQDGHQ WLOO GU\JW NURQRU 'HW ILQQV YDULDWLRQHU PHOODQ ROLND W\VH WDEHOO " #$$#! 7\S DY ORNDO .lOOD 6YHQVND .RPPXQI|UEXQGHW *LYHW GHWWD VNXOOH GHQ JHQRPVQLWWOLJD XSSYlUPQLQJVNRVWQDGHQ NURQRU 'HWWD lU GU\JW NURQRU OlJUH lQ GHW QX DQWDJQD YlUGHW L PRGHOOHQ , NRVWQDGVXWMlPQLQJHQ EHUlNQDV VWDQGDUGNRVWQDGHQ I|U E\JJNRVW QDGHU XWLIUnQ HWW E\JJNRVWQDGVLQGH[ EDVHUDW Sn IDNWLVND NRVWQDGV VNLOOQDGHU L E\JJDQGHW VDPW HWW EHUlNQDW nWHULQYHVWHULQJVEHKRY Sn FD NURQRU nU /DQGHWV NRPPXQHU KDU GHODWV LQ L VMX ROLND UHJLRQHU 'H RPUnGHQ GlU E\JJNRVWQDGHUQD lU K|JUH lQ ULNVJHQRPVQLWWHW lU L 6WRU 6WRFNKROP 6WRU *|WHERUJ VDPW L 1RUUODQGV LQODQG , |YULJD UHJLRQHU DQWDV NRVWQDGHUQD YDUD L QLYn PHG HOOHU XQGHU JHQRPVQLWWHW 7DEHOO %\JJNRVWQDGVLQGH[ 6WRU *|WHERUJ %LGUDJVnUHW RPI|UGHODU PRGHOOHQ PLOMRQHU NURQRU $Q WDOHW NRPPXQHU VRP HUKnOOHU HWW ELGUDJ lU VW\FNHQ UHVWHUDQGH EHWDODU HQ DYJLIW 5HVXOWDW DY NRPPLWWpQV XSSI|OMQLQJ 8WLIUnQ GHW PDWHULDO VRP NRPPLWWpQ WDJLW GHO DY IUnQ 6WDWLVWLVND FHQWUDOE\UnQ 6&% Vn ILQQV VNLOOQDGHUQD NYDU PHOODQ GH ROLND UHJLRQHUQD 6NLOOQDGHUQD NDQ YDULHUD QnJRW PHOODQ nUHQ YLONHW KlQJHU VDPPDQ PHG GHQ HNRQRPLVND NRQMXQNWXUHQ .RPPLWWpQ KDU lYHQ XQGHUV|NW RP QXYDUDQGH LQGHOQLQJHQ lU NRUUHNW QlU GHW JlOOHU VQLWWHW PHOODQ 6WRFNKROPV OlQ RFK 6WRU 6WRFNKROP .RPPLWWpQ KDU IXQQLW DWW QXYDUDQGH LQGHOQLQJ E|U JlOOD lYHQ IRUWVlWWQLQJVYLV cWHULQYHVWHULQJVEHKRYHW lU EHUlNQDW WLOO PLOMDUGHU nUOLJHQ PRWVYDUDQGH NURQRU 'HWWD lU GHQ LQYHVWHULQJ L NRPPXQHUQDV E\JJQDGHU RFK DQOlJJQLQJDU VRP nUOLJHQ EHK|YHU J|UDV I|U DWW XSSUlWWKnOOD JlOODQGH VWDQGDUG RFK XWDQ DWW XQGHUKnOO VNMXWV Sn IUDPWLGHQ 'HWWD EHORSS KDU OHJDW RI|UlQGUDW VHGDQ 'H VHQDVWH WUH nUHQ KDU NRPPXQHUQDV XWJLIWHU I|U KXVE\JJQDGV DQOlJJQLQJV RFK UHSDUDWLRQVHQWUHSUHQDGHU OHJDW Sn FLUND PLOMDU GHU nUOLJHQ , NRPPXQHUQDV UlNHQVNDSHU lU GHW GHVVD |NWD nWHULQYHVWHULQJVEHKRYHW 7UROLJW YLV lU GHWWD HQ XQGHUVNDWWQLQJ Gn PnQJD NRPPXQHU KDU XWJLIWHUQD L VHSDUDWD ERODJ 'HVVXWRP KDU NRPPXQHUQDV LQYHVWHULQJVYRO\P GH VHQDVWH nUHQ YDULW I|U OnJ I|U DWW LQWH DWW XQGHUKnOO VNDOO VNMXWDV Sn IUDPWLGHQ 7DEHOO 8WJLIWHU I|U KXVE\JJQDG DQOlJJQLQJV RFK UHSDUD WLRQVHQWUHSUHQDGHU PGNU $GPLQLVWUDWLRQ UlGGQLQJVWMlQVW PHG PHUD 1XYDUDQGH XWIRUPQLQJ XWJnU IUnQ DWW NRPPXQHU PHG OLWHQ NRPPXQHU VRP lU \WVWRUD PHG HWW OLWHW EHIRONQLQJV XQGHUODJ RFK NRPPXQHU GlU HQ OLWHQ DQGHO DY LQYnQDUH ERU L WlW RUWHUQD KDU VW|UUH NRVWQDGHU |U DGPLQLVWUDWLRQ ORNDOD UHVRU RFK UlGGQLQJVWMlQVW 7DEHOO *UlQV I|U HUVlWWQLQJ VDPW EHORSS L QXYDUDQGH GHOPRGHOO NURQRU $PQ 7lWRUWVJUDGHQ lU UlNQDG Sn DQGHO DY NRPPXQHQV IRONPlQJG VRP ERU L WlWRUWHU PHG PLQGUH lQ LQYnQDUH , GHQ YDQOLJW DQYlQGD WlWRUWVGHILQLWLRQHQ lU JUlQVHQ LQYnQDUH .RPPXQHU VRP XSSI\OOHU NULWHULHUQD I|U JOHVKHW OLWHQ IRONPlQJG RFK OnJ WlWRUWVJUDG InU ELGUDJ I|U VW|UUH EHUlNQDGH PHUNRVWQDGHU L GHOPRGHOOHQ $Y WDEHOO IUDPJnU YLOND JUlQVHU VRP I|UHOLJJHU RFK YLONHQ HUVlWWQLQJ VRP XWJnU I|U GH ROLND GHODUQD L PRGHOOHQ %LGUDJVnUHW RPI|UGHODU PRGHOOHQ PLOMRQHU NURQRU 7RWDOW lU GHW NRPPXQHU VRP InU HUVlWWQLQJ L GHOPRGHOOHQ 'HW KDQGODU RP VDPWOLJD JOHVE\JGVNRPPXQHU VDPW HWW DQWDO ODQGV E\JGVNRPPXQHU RFK QnJUD |YULJD NRPPXQHU 5HVXOWDW DY NRPPLWWpQV XSSI|OMQLQJ 3ULQFLSHUQD I|U NRPPXQHUQDV NRVWQDGVUHGRYLVQLQJ LQQHElU DWW DOOD GLUHNWD RFK LQGLUHNWD NRVWQDGHU SnI|UV YHUNVDPKHWHUQD 'HW LQQH ElU WLOO H[HPSHO DWW DGPLQLVWUDWLRQ RFK NRPPXQJHPHQVDPPD Q\WWLJKHWHU KDU I|UGHODWV Sn GH ROLND YHUNVDPKHWVRPUnGHQD .RVW QDGHUQD I|U NRPPXQHUQDV DGPLQLVWUDWLRQ UHGRYLVDV LQWH VHSDUDW RFK lU GlUPHG VYnUD DWW InQJD XSS 9LVVD ([NOXVLYH SDUWLVW|G XSSJLFN NRVWQDGHQ WLOO PLOMDUGHU NURQRU PRWVYDUDQGH NURQRU (QOLJW GHQ SHUVRQDOVWDWLVWLN VRP 6YHQVND .RPPXQI|UEXQGHW VDPODU LQ nUOLJHQ ILQQV GHW HQ LQGHOQLQJ DY SHUVRQDOHQ L ROLND NDWHJRULHU 'HW ILQQV ROLND NDWHJRULHU VRP GHODV LQ L IHP ROLND KXYXGNDWHJRULHU 'HVVD lU I|UVNROD YnUG RFK RPVRUJ VNROD IULWLG NXOWXU WHNQLN VDPW DGPLQLVWUDWLRQ 7RWDOW ILQQV GHW FLUND nUVDUEHWDUH L NRPPXQHUQD $Y GHVVD |UGH nUVDUEHWDUH NDWHJRULQ DGPLQLVWUDWLRQ YLONHW PRWVYDUDU SURFHQW $QWDU PDQ DWW NRVW QDGHUQD I|U DGPLQLVWUDWLRQ lU I|UGHODW Sn VDPPD VlWW VRP DQWDOHW nUVDUEHWDUH VNXOOH NRVWQDGHQ XSSJn WLOO PLOMDUGHU PRWVYDUDQGH NURQRU ,QNOXGHUDV GHQ SROLWLVND YHUNVDPKHWHQ VNXOOH NRVWQDGHUQD I|U NRPPXQHUQDV DGPLQLVWUDWLRQ VDPPDQWDJHW PRWVYDUDQGH NURQRU , NRPPXQHUQDV UlNHQVNDSHU UHGRYLVDV NRPPXQHUQDV NRVWQDGHU I|U UlGGQLQJVWMlQVW +lU UHGRYLVDV DOOD NRVWQDGHU I|U LQVDWVHU VRP J|UV L V\|UHE\JJD RFK nWJlUGD EUDQG RO\FNRU VNDGRU RFK DQGUD Q|GVLWXDWLRQHU 'HOWDU NRPPXQHQ L HWW NRPPXQDOI|UEXQG VRP EHGULYHU YHUNVDPKHWHQ VNDOO DYJLIWHQ WLOO I|UEXQGHW UHGRYLVDV KlU 7RWDOW XSSJnU NRPPXQHUQDV NRVWQDGHU WLOO PLOMDUGHU NUR QRU PRWVYDUDQGH NURQRU 7DEHOO .RVWQDGHU I|U DGPLQLVWUDWLRQ RFK UlGGQLQJVWMlQVW NURQRU .lOOD 6&% 1nJRQ NRVWQDG I|U ORNDOD UHVRU ILQQV LQWH UHGRYLVDW L NRPPXQHUQDV UlNHQVNDSVVWDWLVWLN YLONHW RP|MOLJJ|U DOO IRUP DY XSSI|OMQLQJ , GHQ DNWXHOOD NRQWRSODQHQ ILQQV GRFN HWW NRQWR I|U UHVNRVWQDGHU XQGHU |YULJD YHUNVDPKHWVNRVWQDGHU +LW I|UV DOOD NRVWQDGHU VRP XSSVWnU L VDPEDQG PHG DQVWlOOGDV UHVRU L WMlQVWHQ bYHQ NRVWQDGHU VRP DQVWlOOGD KDU L VDPEDQG PHG WMlQVWHUHVD |UDV KlU 1lU GHW JlOOHU NRVWQDGHUQD I|U DGPLQLVWUDWLRQ lU GH K|JUH YLG HQ IRONPlQJG XQGHU MlPI|UW PHG |YULJD NRPPXQHU 'HWWD JlOOHU RDYVHWW WlWRUWVJUDG RFK DQWDOHW LQYnQDUH )|U NRPPXQHU PHG HQ IRONPlQJG PHOODQ RFK lU VDPEDQGHW LQWH OLND W\GOLJW .RPPXQHU PHG DQWDO LQYnQDUH RFK KDU LQWH K|JUH NRVWQDGHU MlPI|UW PHG ULNHW 7lWRUWVJUDGHQ SnYHUNDU HQGDVW NRVWQDGHQ YLG YlUGHQ XQGHU SURFHQW )|U |YULJD JUXSSHU OLJJHU GHQ UHGRYLVDGH NRVWQD GHQ L QLYn PHG ULNHW 1lU GHW JlOOHU NRVWQDGHUQD I|U UlGGQLQJVWMlQVW lU GH K|JUH YLG HQ IRONPlQJG XQGHU MlPI|UW PHG |YULJD NRPPXQHU 'HWWD JlOOHU RDYVHWW WlWRUWVJUDG .RPPXQHU PHG QnJRW IOHU DQWDO LQYnQDUH LQWH ULNWLJ OLND VWRUD PHUNRVWQDGHU -lPI|UW PHG WDEHOO NDQ GHW NRQVWDWHUDV DWW PHUNRVWQDGHUQD I|U DGPLQLVWUDWLRQ RFK UlGGQLQJVWMlQVW L QlVWDQ VDPWOLJD IDOO lU K|JUH lQ HUVlWWQLQJHQ L QXYDUDQGH GHOPRGHOO bYHQ RP PDQ UlNQDU XSS HUVlWWQLQJVQLYnHUQD PHG QHWWRSULVLQGH[ WLOO nUV QLYn NYDUVWnU VNLOOQDGHUQD 8SSUlNQLQJHQ PHG QHWWRSULVLQGH[ PHOODQ RFK PRWVYDUDU FLUND SURFHQW K|JUH HUVlWWQLQJ 1XYDUDQGH PRGHOO XWJnU IUnQ DWW PHUNRVWQDGHUQD lU K|JUH MX IlUUH LQYnQDUH NRPPXQHQ KDU )UnQ WDEHOO NDQ GHW NRQVWDWHUDV DWW GHW lU DQWDOHW LQYnQDUH VRP VW\U VWRUOHNHQ Sn PHUNRVWQDGHUQD I|U DGPLQLVWUDWLRQ RFK UlGGQLQJV WMlQVW .RPPXQHUQD PHG HWW LQYnQDUDQWDO XQGHU YHUNDU KD K|JUH JHQRPVQLWWOLJD NRVWQDGHU 1nJRQ MlPI|UHOVH Sn WRWDOQLYn NDQ LQWH J|UDV Gn NRVWQDGVGDWD I|U NRPPXQHUQDV ORNDOD UHVRU VDNQDV 5HVXOWDW DY NRPPLWWpQV XSSI|OMQLQJ .RPPLWWpQV JHQRPJnQJ DY GH I\UD DNWXHOOD PRGHOOHUQD YLVDU DWW GH VWUXNWXUHOOD PHUNRVWQDGHU GH lU WlQNWD DWW NRPSHQVHUD I|U L VWRUD GUDJ IRUWIDUDQGH JlOOHU 9LVVD '$#! PXQHU HOOHU NRPPXQJUXSSHU 9LGDUH KDU YLVVD |OMDV XSS Sn JUXQG DY DWW XQGHUODJ VDNQDV gYHUYlJDQGHQ RFK I|UVODJ 'H I\UD GHOPRGHOOHUQD NRPSHQVHUDU I|U PHUNRVWQDGHU XSSNRPQD Sn JUXQG DY JHRJUDILVNW OlJH RFK HOOHU JOHV EHE\JJHOVHVWUXNWXU 9DUMH HQVNLOG PRGHOO RPVlWWHU UHODWLYW VPn EHORSS 9LGDUH Vn XSS GDWHUDV LQWH PRGHOOHUQD nUOLJHQ XWDQ KDU L KXYXGVDN OHJDW IDVW VHGDQ (UVlWWQLQJVEHORSSHQ KDU GRFN UlNQDWV XSS PHG QHWWRSULV LQGH[ WLOO DNWXHOOW ELGUDJVnU .RPPLWWpQ PHQDU DWW PDQ E|U I|UD VDPPDQ GH DNWXHOOD PRGHOOHUQD WLOO HQ JHPHQVDP GHOPRGHOO NDOODG QlULQJVJHRJUDIL *|U PDQ GHWWD UHGXFHUDV DQWDOHW GHOPRGHOOHU L NRPPXQHUQDV NRVW QDGVXWMlPQLQJ YLONHW I|UHQNODU V\VWHPHW 'n PRGHOOHUQD DOOD KDU HQ NRSSOLQJ WLOO JHRJUDILQ EHE\JJHOVHVWUXNWXUHQ RFK LQWH I|UlQGUDV |YHU nUHQ NRPPHU LQWH WUlIIVlNHUKHWHQ I|UVlPUDV JHQRP GHQQD VDPPDQOlJJQLQJ (NRQRPLVND HIIHNWHU I|U NRVWQDGVXWMlPQLQJHQ 'n NRPPLWWpQ LQWH I|UHVOnU QnJUD I|UlQGULQJDU L GH DNWXHOOD GHO PRGHOOHUQD SnYHUNDV LQWH GHQ HQVNLOGH NRPPXQHQV XWIDOO 7RWDOW NRPPHU GHQ Q\D GHOPRGHOOHQ DWW RPI|UGHOD PLOMRQHU $QWDOHW NRPPXQHU VRP HUKnOOHU HWW ELGUDJ XSSJnU WLOO VW\FNHQ 'HQ K|JVWD VWDQGDUGNRVWQDGHQ XSSJnU WLOO NURQRU .RPPLWWpQV I|UVODJ 1XYDUDQGH GHOPRGHOO ELEHKnOOV PHG YLVVD (Q XSSGDWHULQJ DY UHJUHVVLRQHQ J|UV XWLIUnQ HWW DNWXHOODUH NRVWQDGVXQGHUODJ 8QGHUODJHW lU OlQVWUDILNKXYXG PlQQHQV NRVWQDGHU I|U WUDILNHQ UHGXFHUDGH PHG GHQ JHQRP VQLWWOLJD DYJLIWVQLYnQ 1XYDUDQGH UHGXFHULQJ DY VWDQGDUGNRVWQDGHUQD PHG SUR FHQW XWJnU )|UGHOQLQJHQ DY NRVWQDGHUQD PHOODQ NRPPXQHUQD L UHVSHN WLYH OlQ XSSGDWHUDV 'HOPRGHOOHQ I|U NROOHNWLYWUDILN lU GHQ HQGD PRGHOOHQ L NRVWQDGV XWMlPQLQJHQ VRP lU JHPHQVDP I|U EnGH NRPPXQHU RFK ODQGVWLQJ 6WDQGDUGNRVWQDGHQ EHUlNQDV EDVHUDV Sn WUH YDULDEOHU VRP DYVHU DWW InQJD XSS VnYlO JOHVE\JGVSUREOHP VRP WUlQJVHO SUREOHP L VWRUVWDGVUHJLRQHUQD VDPW DWW EHKRYHW DY NROOHNWLYWUDILN L WlWRUWHU XSSNRPPHU I|UVW L VW|UUH VDPKlOOHQ 'H YDOGD YDULDEOHUQD DQWDO XWSHQGODUH |YHU NRPPXQJUlQV VRP DQGHO DY EHIRONQLQJHQ DQGHO DY OlQHWV EHIRONQLQJ VRP ERU L WlWRUWHU PHG PHU lQ JOHVKHW GHW JHQRPVQLWWOLJD DYVWnQGHW PHOODQ SHUVRQHUQD L OlQHW *UXQGHQ I|U QXYDUDQGH GHOPRGHOO lU NRPPXQHUQDV RFK ODQGV WLQJHQV QHWWRNRVWQDG Sn OlQVQLYn nUHQ RFK 9DUMH nU XSSGDWHUDV GHQ JHQRPVQLWWOLJD QHWWRNRVWQDGHQ I|U NROOHNWLYWUD ILNHQ 'HQ NRVWQDG VRP DQYlQGV lU GHQ VRP UHGRYLVDV L NRP PXQHUQDV RFK ODQGVWLQJHQV ERNVOXWVVWDWLVWLN )|U DWW GHW YlJGD JHQRPVQLWWHW DY VDPWOLJD VWDQGDUGNRVWQDGHU VNDOO |YHUHQVVWlPPD PHG GHQ VHQDVWH NlQGD NRVWQDGHQ J|UV nUOLJHQ HQ QLYnMXVWHULQJ 'HQ OlQVYLVD \Q WLOO VYnULJKHWHUQD DWW IDVWVWlOOD KXU VWRU DQGHO DY NRVW QDGHUQD VRP lU VHUYLFH UHVSHNWLYH VWUXNWXU 'HQ UHGXFHUDGH NRVW QDGHQ I|UGHODV VHGDQ PHG KlOIWHQ WLOO NRPPXQHUQD RFK KlOIWHQ WLOO ODQGVWLQJHW .RPPXQNROOHNWLYHWV GHO I|UGHODV VHGDQ Sn NRPPXQHU QD HIWHU GHQ IDNWLVND NRVWQDGHQ DYVHHQGH .RPPXQHQ UHVSHN WLYH ODQGVWLQJHW WLOOlJJ DYGUDJ XWJ|U VNLOOQDGHQ PHOODQ GHQ HJQD VWDQGDUGNRVWQDGHQ RFK GHQ JHQRPVQLWWOLJD L ULNHW )LJXU 6WDQGDUGNRVWQDGHQV I|UGHOQLQJ LQRP OlQHW H[HPSOHW %OHNLQJH OlQ % ' ( # 5HVXOWDW DY NRPPLWWpQV XSSI|OMQLQJ 0DQ EUXNDU VNLOMD Sn ORNDO UHJLRQDO VDPW LQWHUUHJLRQDO NROOHNWLY WUDILN /RNDO WUDILN EHGULYV LQRP HQ WlWRUW RFK XSS WLOO NP IUnQ WlWRUWHQV FHQWUXP UHJLRQDO WUDILN EHGULYV Sn DYVWnQG PHOODQ RFK NLORPHWHU RFK LQWHUUHJLRQDO WUDILN lU GHQ VRP EHGULYV Sn OlQJUH VWUlFNRU 'HQ ORNDOD RFK UHJLRQDOD NROOHNWLYWUDILNHQ lU VDPRUGQDG OlQVYLV XQGHU HQ WUDILNKXYXGPDQ VRP lU HNRQRPLVNW RFK SROLWLVNW DQVYDULJ I|U DOO NROOHNWLYWUDILN LQRP UHVSHNWLYH OlQ 'HW QRUPDOD lU DWW ERODJHW lJV WLOO KlOIWHQ DY ODQGVWLQJHW RFK WLOO KlOIWHQ DY OlQHWV NRP PXQHU .RPPXQHUQD L OlQHW NDQ WLOOVDPPDQV PHG ODQGVWLQJHW NRPPD |YHUHQV RP HQ DQQDQ lJDUI|UGHOQLQJ 'HW XWJnU LQJHW VWDWOLJW GULIWVELGUDJ I|U GHQ ORNDOD RFK UHJLRQDOD NROOHNWLYWUDILNHQ 8QGDQWDJHW VWDWVELGUDJHW WLOO QHGODJGD OlQVMlUQ YlJDU VH QHGDQ 7UDILNHQV XQGHUVNRWW GHW YLOO VlJD GHQ NRVWQDG VRP LQWH WlFNV DY ELOMHWWHU RFK |YULJD LQWlNWHU VNDOO HQOLJW ODJ I|UGHODV PHOODQ UHV SHNWLYH OlQV NRPPXQHU RFK ODQGVWLQJ HQOLJW SULQFLSHQ 'HQ HQVNLOGD NRPPXQHQ VNDOO VHGDQ EHWDOD VLQ DQGHO HQOLJW GHW WUDILN DUEHWH VRP XWI|UWV L NRPPXQHQ ODJ .RPPXQHU RFK ODQGVWLQJ KDU GRFN P|MOLJKHW DWW Sn IULYLOOLJ YlJ YlOMD HQ DQQDQ I|UGHOQLQJ EnGH PHOODQ NRPPXQHUQD RFK ODQGVWLQJHW RFK PHOODQ NRPPXQHUQD 'HW YDQOLJDVWH lU DWW PDQ I|UGHODU NRVW QDGHQ HIWHU EHVWlOOG WUDILN 'HW lU YDQOLJW DWW PDQ VNLOMHU Sn WlW RUWVWUDILN RFK ODQGVE\JGVWUDILN 7UDILNHQ XWPHG I|UH GHWWD VWDWOLJD OlQVMlUQYlJDU 7UDILNKXYXGPlQQHQ KDU VHGDQ DQVYDUHW I|U SHUVRQWUDILNHQ XW PHG GH Vn NDOODGH OlQVMlUQYlJDUQD +XYXGPlQQHQ YDU IULD DWW VMlOYD YlOMD WUDILNVODJ 6RP NRPSHQVDWLRQ I|U |YHUWDJDQGHW HUK|OO WUDILNKXYXGPlQQHQ GH VWDWVELGUDJ VRP 6- WLGLJDUH HUK|OO 6WDWV ELGUDJHW VNXOOH XWJn L nU 5LNVGDJHQ EHVOXWDGH GRFN K|VWHQ DWW I|UOlQJD ELGUDJHW WLOO RFK PHG XWJnQJHQ DY 'lUHIWHU VNDOO GHW LQWH EHWDODV XW QnJRW VWDWOLJW VW|G WLOO GULIWHQ %LGUDJHW XSSJLFN 7UlQJVHODYJLIWHUQD L 6WRFNKROP NRPPXQ .RPPLWWpQ KDU LQWH NXQQDW EHDNWD HYHQWXHOOD HIIHNWHU Sn NROOHNWLY WUDILNHQV XWIRUPQLQJ HOOHU NRVWQDG DY I|UVODJHW DWW LQI|UD WUlQJVHO DYJLIWHU L 6WRFNKROPV NRPPXQ L VOXWHW DY 6HGDQ KDU WUDILNKXYXGPlQQHQ P|MOLJKHW DWW RP GH Vn |QVNDU VYDUD I|U IlUGWMlQVW RFK ULNVIlUGWMlQVW 'HWWD XQGHU I|UXWVlWWQLQJ DWW PDQ KDU NRPPLW |YHUHQV PHG GH DNWXHOOD NRPPXQHUQD HOOHU ODQGV WLQJHW 7LGLJDUH YDU IlUGWMlQVWHQ HQ GHO DY VRFLDOWMlQVWHQ 5LNVGDJHQV EHVOXW V\IWDU WLOO DWW LQWHJUHUDU IlUGWMlQVWHQ L GHQ |YULJD NROOHNWLY WUDILNHQ YLONHQ VNDOO I|U IXQNWLRQVKLQGUDGH 9LGDUH VNDOO LQWHJUHULQJHQ JH OlJUH NRVWQDGHU Gn YLVVD [L QX VNDOO NXQQD VNH L GHQ RUGLQDULH OLQMHWUDILNHQ $Y ODQGHWV NRPPXQHU lU GHW NRPPXQHUQD L %OHNLQJH RFK gUHEUR OlQ VRP NRPPLW OlQJVW L VDPRUGQLQJHQ (WW DQWDO NRPPX QHU L 9lUPODQG KDU EHVOXWDW DWW I|UD |YHU DQVYDUHW I|U IlUGWMlQVWHQ WLOO WUDILNKXYXGPDQQHQ L OlQHW , IOHUWDOHW OlQ |YHUYlJHU NRPPXQHU QD DWW I|UD |YHU DQVYDUHW I|U IlUGWMlQVWHQ WLOO WUDILNKXYXGPDQQHQ )|UGHOQLQJHQ L 6WRFNKROPV UHVSHNWLYH 6NnQH OlQ , 6WRFNKROPV UHVSHNWLYH 6NnQH OlQ OLJJHU KHOD GHW ILQDQVLHOOD DQVYD UHW I|U NROOHNWLYWUDILNHQ Sn ODQGVWLQJHW UHJLRQHQ , 6WRFNKROPV OlQ KDU ILQDQVLHULQJHQ DY 6WRUVWRFNKROPV ORNDO WUDILN 6/ YDULW HWW DQVYDU I|U ODQGVWLQJHW DOOWVHGDQ VWRUODQGVWLQJHW ELOGDGHV , VDPEDQG PHG GHWWD NXQGH 6WRFNKROPV VWDG VlQND VNDWWHQ PHGDQ ODQGVWLQJHW NXQGH K|MD , QnJRQ PHQLQJ ILQQV GHW DOOWVn HQ KLVWRULVN VNDWWHYl[OLQJ /DQGVWLQJHW WDU L DQVSUnN HQ VW|UUH GHO DY VNDWWHXWU\PPHW lQ YDG VRP DQQDUV YRUH QRUPDOW 'HW I|UNODUDU GHOYLV YDUI|U 6WRFNKROPV OlQV ODQGVWLQJ KDU GHQ K|JVWD VNDWWHVDWVHQ LEODQG ODQGVWLQJHQ )|U GHQ HQVNLOGH VNDWWHEHWDODUHQ EOLU GRFN VNDWWHQ GHQ VDPPD Gn NRPPXQHUQD L 6WRFNKROPV OlQ NDQ KnOOD HQ OlJUH VNDWWHVDWV lQ YDG DQQDUV VNXOOH YDUD IDOOHW 9LG ELOGDQGHW DY 6NnQHODQGVWLQJHW |YHUI|UGH PDQ KHOD DQVYDUHW I|U NROOHNWLYWUDILNHQ Sn UHJLRQHQ 'n NRPPXQHUQD ILFN PLQVNDW ILQDQVLHOOW DQVYDU RFK ODQGVWLQJHW XW|NDW JHQRPI|UGHV HQ VNDWWH Yl[OLQJ 9LG MXVWHULQJHQ DY VNDWWHVDWVHUQD WRJ PDQ KlQV\Q WLOO KXU PDQ L GHOPRGHOOHQ I|U NROOHNWLYWUDILNHQ I|UGHODU VWDQGDUGNRVWQDGHQ PHOODQ ODQGVWLQJHW RFK NRPPXQHU 'HWWD I|U DWW LQWH ODQGVWLQJHW VNXOOH JnQJHU EnGH YLD NRVWQDGV RFK LQNRPVWXWMlPQLQJHQ 6ND PDQ I|UD |YHU KHOD VWDQGDUGNRVWQDGHQ WLOO GHQ VRP KDU GHW ILQDQVLHOOD DQVYDUHW L 6WRFNKROPV UHVSHNWLYH 6NnQH OlQV ODQGVWLQJ EHK|YHU PDQ MXVWHUD GH OlQVYLVD 9LONHW EHW\GHU DWW lYHQ LQNRPVWXWMlPQLQJHQ SnYHUNDV .RPPXQHUQDV RFK ODQGVWLQJHQV NRVWQDGHU I|U NROOHNWLYWUDILNHQ 8SSJLIWHU VRP NRVWQDGHQ I|U NROOHNWLYWUDILNHQ ILQQV L NRPPXQHU QDV RFK ODQGVWLQJHQV UlNHQVNDSHU 9LGDUH SXEOLFHUDU 6YHQVND ORNDO WUDILNI|UHQLQJ 6/7) nUOLJHQ XSSJLIWHU RP VDPWOLJD WUDILNKXYXG PlQV UlNHQVNDSHU PHG PHUD ,QJHQ DY NlOORUQD lU KHOWlFNDQGH YDUI|U NRPPLWWpQ KDU NRPSOHW WHUDW RFK NRPELQHUDW GH ROLND NlOORUQD I|U DWW In IUDP HQ Vn NRUUHNW NRVWQDGVELOG VRP P|MOLJW 1X lU GHW LQWH GHQ WRWDOD NRVWQDGHQ VRP lU LQWUHVVDQW XWDQ GHW XQGHUVNRWW VRP XSSVWnU KRV OlQVWUDILNKXYXG PDQQHQ VRP NRPPXQHU RFK ODQGVWLQJ HQOLJW ODJ KDU GHW ILQDQVLHOOD DQVYDUHW I|U 'HW lU NRPPXQHUQDV RFK ODQGVWLQJHQV NRVWQDGHU PDQ VNDOO XWMlPQD I|U LQWH WUDILNKXYXGPlQQHQV 7DEHOO /lPQDW ELGUDJ I|U NROOHNWLYWUDILN , YLVVD lYHQ DQVYDUHW I|U IlUGWMlQVWHQ )LQDQVLHULQJHQ DY GHQQD NRVWQDG O|VHV GRFN YLG VLGDQ DY GHQ QRU PDOD XQGHUVNRWWVWlFNQLQJHQ YDUI|U QnJRQ NRUULJHULQJ I|U GHWWD LQWH KDU EHK|YWV J|UDV 'n GHW VWDWOLJD GULIWVELGUDJHW I|U GULIWHQ XWPHG GH WLGLJDUH OlQV MlUQYlJDUQD XSSK|U L RFK PHG nUV XWJnQJ KDU GHQQD LQWlNW ODJWV VRP HQ NRVWQDG VRP NRPPXQHU RFK ODQGVWLQJ VNDOO ILQDQVLHUD 'HWWD E\JJHU Sn HWW DQWDJDQGH RP DWW WUDILNKXYXGPlQQHQ NRPPHU DWW IRUWVlWWD PHG GHQ WUDILN VRP PDQ HUKnOOLW VWDWVELGUDJ I|U lYHQ IUDP|YHU RFK GlUPHG lYHQ KD NYDU NRVWQDGHUQD 'HODU PDQ XSS GH ELGUDJ VRP NRPPXQHU RFK ODQGVWLQJ JHU Sn OlQVQLYn NDQ GHW NRQVWDWHUDV DWW 6WRFNKROPV OlQV NRVWQDGHU NUDIWLJW DYYLNHU IUnQ |YULJD OlQ )|U PHUSDUWHQ DY GH |YULJD OlQHQ OLJJHU NRVWQDGHQ Sn WLOO NURQRU 1nJRW OlJUH NRVWQD GHU ILQQV L V|6YHULJH lQ L |YULJD 6YHULJH 1nJRQ PlUNEDUW K|JUH NRVWQDG L QRUUD 6YHULJH NDQ LQWH XWOlVDV )LJXU /lPQDW ELGUDJ I|U GULIW DY ORNDO RFK UHJLRQDO NROOHN WLYWUDILN JHQRPVQLWW I|U RFK NURQRU +XU VWRU DQGHO ELOMHWWLQWlNWHUQD lU L UHODWLRQ WLOO LQWlNWHU IUnQ ELOMHWWHU RFK NRPPXQ RFK ODQGVWLQJ YDULHUDU PHOODQ RFK SUR FHQW +|JVW lU DYJLIWVILQDQVLHULQJ L 8SSVDOD 6NnQH RFK 9lUPODQG 6|GHUPDQODQG .DOPDU RFK %OHNLQJH KDU GHQ OlJVWD DYJLIWVILQDQ VLHULQJHQ 9DUMH WUDILNKXYXGPDQ lU IUL DWW VMlOY YlOMD KXU VWRU GHO VRP VNDOO EHWDODV DY GHP VRP Q\WWMDU NROOHNWLYWUDILNHQ RFK KXU VWRU GHO VRP VNDOO EHWDODV DY VDPWOLJD YLD VNDWWHQ .RPPLWWpQ KDU LQWH IXQQLW QnJRW VDPEDQG PHOODQ DYJLIWVILQDQVLHULQJVJUDGHQ RFK VWRU OHNHQ Sn XQGHUVNRWWVWlFNQLQJHQ , ULNHW VRP KHOKHW ELGUDU LQYnQDUQD PHG HWW EHORSS PRWVYDUDQGH SURFHQW Sn VNDWWHQ $Y GHWWD EHORSS I|UGHODU VLJ SURFHQW LQGLUHNW YLD VNDWWHQ RFK SURFHQW YLD ELOMHWWHQ 8WYlUGHULQJ DY QXYDUDQGH PRGHOO 9LG HQ MlPI|UHOVH PHOODQ OlPQDW ELGUDJ RFK IUDPUlNQDG VWDQGDUG NRVWQDG NDQ GHW NRQVWDWHUDV DWW PRGHOOHQ IXQJHUDU YlO I|U IOHUD OlQ )|U YLVVD 'HWWD JlOOHU H[HPSHOYLV L 6NnQH RFK *lYOHERUJ 7RWDOW I|UNODUDU PRGHOOHQ SURFHQW DY NRVWQDGVVNLOOQDGHUQD )LJXU /lPQDW ELGUDJ MlPI|UW PHG VWDQGDUGNRVWQDG SURFHQW DY JHQRPVQLWW 9LG HQ XSSGDWHULQJ DY QXYDUDQGH UHJUHVVLRQ VWLJHU I|UNODULQJV JUDGHQ WLOO SURFHQW ([NOXGHUDV 6WRFNKROPV OlQ VMXQNHU I|U NODULQJVJUDGHQ WLOO SURFHQW $WW I|UNODULQJVJUDGHQ VMXQNHU NUDI WLJW QlU PDQ H[NOXGHUDU 6WRFNKROP EHURU Sn GHQ UHJUHVVLRQVPHWRG VRP DQYlQGV PLQVWD NYDGUDWPHWRGHQ 3XQNWHU VRP DYYLNHU NUDIWLJW IUnQ |YULJD REVHUYDWLRQHU InU HQ QRUPDOW VWRU LQYHUNDQ Sn I|UNODULQJVJUDGHQ Vn NDOODG KlYVWnQJVHIIHNW $Y GH WUH YDULDEOHU VRP DQYlQGV XSSI\OOHU VDPWOLJD GH VWDWLVWLVND NUDYHQ GRFN PHG HQ OLWHQ PDUJLQDO , XWUHGQLQJVDUEHWHW KDU HWW DQWDO ROLND YDULDEOHU DQDO\VHUDWV L HWW I|UV|N DWW KLWWD HQ NRPELQDWLRQ VRP JHU HQ VWDELODUH PRGHOO 'HQQD JHQRPJnQJ JDY GRFN LQJHW VRP NXQGH I|UElWWUD PRGHOOHQ 'n LQWH DQGUD HOOHU \WWHUOLJDUH YDULDEOHU JHU HWW ElWWUH UHVXOWDW L PRGHOOHQ KDU DQGUD NRVWQDGVGHILQLWLRQHU WHVWDWV 6RP WLGLJDUH UHGRYLVDWV VNLOMHU VLJ QLYnQ Sn DYJLIWVILQDQVLHULQJHQ PHOODQ OlQHQ YLONHW SnYHUNDU QHWWRNRVWQDGHQ )LJXU 6DPEDQG PHOODQ IDNWLVN DYJLIWVMXVWHUDG WUDILNNRVWQDG RFK EHUlNQDG HQOLJW XSSGDWHUDG PRGHOO NURQRU (Q OlPSOLJDUH NRVWQDGVGHILQLWLRQ lQ QHWWRNRVWQDGHQ lU WUDILNNRVW QDGHQ 'HQQD lU GHQ WRWDOD NRVWQDGHQ I|U GULIWHQ DY WUDILNHQ *|UV UHJUHVVLRQ PRW GHQQD NRVWQDG HUKnOOV HWW K|JUH I|UNODULQJVYlUGH VDPWLGLJW VRP VDPWOLJD YDULDEOHU XSSI\OOHU GH VWDWLVWLVND NUDYHQ PHG HQ JRG PDUJLQDO 9DULDEHOQ VRP PlWHU DQGHOHQ SHUVRQHU VRP ERU L WlWRUWHU PHG IOHU lQ LQYnQDUH InU GRFN HWW VlPUH YlUGH PHG GHQQD NRVWQDGVGHILQLWLRQ 6lQNHU PDQ QLYnQ WLOO HUKnOOV HQ VWDELODUH PRGHOO PHG HWW EHW\GOLJW K|JUH I|UNODULQJVYlUGH 7UDILNNRVWQDGHQ lU HQ IRUP DY EUXWWRNRVWQDG 8WMlPQLQJHQ VNDOO GRFN VNH L QHWWRNRVWQDGHU )|U DWW nVWDGNRPPD GHWWD PnVWH WUDILN NRVWQDGHQ UHGXFHUDV 'n NRPPXQHUQDV RFK ODQGVWLQJHQV ELGUDJ L JHQRPVQLWW XSSJnU WLOO SURFHQW DY WUDILNNRVWQDGHUQD UHGXFHUDV YDUMH OlQV WUDILNNRVWQDG PHG GHQQD DQGHO , ILJXU UHGRYLVDV GHQ EHUlNQDGH NRVWQDGHQ PRW UHGRYLVDGH WUDILNNRVWQDGHQ ([NOXGHUDV 6WRFNKROPV OlQ EOLU I|UNODULQJVJUDGHQ SURFHQW 1XYDUDQGH UHGXFHULQJ PHG SURFHQW .RVWQDGVXWMlPQLQJHQ VNDOO XWMlPQD WLOO HQ JHQRPVQLWWOLJ DYJLIW VHUYLFH RFK HIIHNWLYLWHW 'HWWD O|VHV JHQRP DWW PDQ XWJnU IUnQ GHQ JHQRPVQLWWOLJD NRVWQDGHQ L ULNHW SOXV PLQXV GHQ HQVNLOGD NRP PXQHQV HOOHU ODQGVWLQJHWV VWUXNWXUHOOD I|UXWVlWWQLQJDU )LQQV GHW HQ µ|YHUVWDQGDUGµ LQRP YHUNVDPKHWHQ GHW YLOO VlJD DWW PDQ L JHQRPVQLWW XWI|U YHUNVDPKHWHQ WLOO HQ K|JUH DPELWLRQVQLYn lQ YDG VRP DQJHV L ODJVWLIWQLQJHQ V\QV GHWWD L HQ K|JUH JHQRPVQLWWOLJ NRVWQDG RFK GlUPHG |NDG RPVOXWQLQJ L GHQ DNWXHOOD GHOPRGHOOHQ , GHOPRGHOOHQ I|U NROOHNWLYWUDILNHQ KDU PDQ GRFN IUnQJnWW GHQQD SULQFLS +lU UHGXFHUDV GHQ JHQRPVQLWWOLJD NRVWQDGHQ PHG SUR FHQW PRW EDNJUXQG DY VYnULJKHWHUQD DWW IDVWVWlOOD KXU P\FNHW DY NRVWQDGHUQD VRP lU VMlOYYDOGD VHUYLFHQLYn RFK KXU P\FNHW VRP EHURU Sn VWUXNWXUHOOD IDNWRUHU 'HWWD JHU HQ OlJUH RPI|UGHOQLQJ 3URFHQWVDWVHQ KDU LQJHQ VDNOLJ JUXQG XWDQ lU HQ SROLWLVN EHG|P QLQJ )|U DWW VNDSD HQ NRQVHNYHQW NRVWQDGVXWMlPQLQJVPRGHOO VRP LQWH EDVHUDV Sn SROLWLVND EHG|PQLQJDU I|UHVOnV DWW QXYDUDQGH UHGXFHULQJ DY VWDQGDUGNRVWQDGHQ WDV ERUW 'HWWD LQQHElU DWW NROOHNWLYWUDILNHQ NRPSHQVHUDV IXOOW XW .ROOHNWLYWUDILNHQ lU Sn VDPPD VlWW VRP HQ XWE\JJG EDUQRPVRUJ HQ I|UXWVlWWQLQJ I|U HQ IXQJHUDQGH DUEHWVPDUNQDG 9LG HQ OnQJW JnHQGH XWMlPQLQJ DY LQNRPVWHUQD lU GHW ULPOLJW DWW PDQ WDU IXOO KlQV\Q WLOO GH NRVWQDGHU VRP XSSVWnU I|U LQNRPVWHUQDV I|UYlUYDQ GH 6WRFNKROPV OlQ InU JHQRP ERUWWDJDQGHW DY UHGXFHULQJHQ HWW |NDW WLOOlJJ PRWVYDUDQGH NURQRU gYULJD OlQ InU HWW |NDW DYGUDJ Sn PHOODQ WLOO NURQRU )|UGHOQLQJHQ DY VWDQGDUGNRVWQDGHQ Sn NRPPXQQLYn 'HQ IUDPUlNQDGH NRVWQDGHQ Sn OlQVQLYn I|UGHODV XW Sn UHVSHNWLYH NRPPXQ XWLIUnQ GHQ IDNWLVND NRVWQDGVI|UGHOQLQJHQ , 6WRFN KROPV RFK 6NnQH OlQ HUKnOOHU DOOD NRPPXQHU VDPPD EHORSS YLOO VlJD PDQ I|UGHODU HIWHU DQWDOHW LQYnQDUH 'HW KDU VWnWW IULWW I|U OlQHW DWW KRV UHJHULQJHQ EHJlUD HQ DQQDQ I|UGHOQLQJ 'HWWD KDU GRFN EDUD XWQ\WWMDWV DY 6NnQH L VDPEDQG PHG ELOGDQGHW DY UHJLRQHQ )|U DWW lQGUD I|UGHOQLQJ PnVWH GRFN VDPWOLJD NRP PXQHU L OlQHW RFK ODQGVWLQJHW YDUD |YHUHQV , YLVVD 9lVWUD *|WDODQG RFK -lPWODQG DYYLNHU GHQ I|UGHO QLQJ VRP DQYlQGV L PRGHOOHQ EHW\GOLJW IUnQ GDJHQV I|UGHOQLQJ DY XQGHUVNRWWHW PHOODQ NRPPXQHUQD (Q XSSGDWHULQJ DY I|UGHOQLQJHQ JHU HQVNLOGD NRPPXQHU L GHVVD |UlQGULQJDU , DQGUD OlQH[HPSHOYLV %OHNLQJH 9lUPODQG 9lVWHUERWWHQ VDPW -|QN|SLQJ lU |YHUHQVVWlPPHOVHQ JDQVND JRG RFK HQ XSSGDWHULQJ WLOO DNWXHOOD I|UKnOODQGHQ JHU VPn I|UlQGULQJDU I|U GHQ HQVNLOGD NRPPXQHQ .RPPXQHUQD L 6WRFNKROP RFK 6NnQH VDPW *RWODQGV NRPPXQ SnYHUNDV LQWH DY HQ XSSGDWHULQJ .RPPLWWpQ KDU YLD WUDILNKXYXGPlQQHQ HUKnOOLW XSSJLIWHU RP KXU P\FNHW UHVSHNWLYH NRPPXQ WLOOI|UW ERODJHW L XQGHUVNRWWVWlFNQLQJ HOOHU PRWVYDUDQGH RFK KDU VnOHGHV XSSJLIWHU RP GHQ DNWXHOOD I|UGHOQLQJHQ L YDUMH OlQ , VW|UUH VWlGHU lU NROOHNWLYWUDILNHQ HQ I|UXWVlWWQLQJ I|U DWW DOOD PlQ QLVNRU VNDOO NXQQD WD VLJ WLOO DUEHWHW RFK VWXGLHU $Y XWU\PPHVVNlO VNXOOH GHW LQWH IXQJHUD RP DOOD WRJ ELOHQ .ROOHNWLYWUDILNHQ lU PHU \WHIIHNWLY lQ ELOHQ 6HGDQ KDU ELOLVPHQ HQ QHJDWLY SnYHUNDQ Sn PLOM|Q EnGH L IRUP DY DYJDVHU PHQ lYHQ Sn VWDGVPLOM|Q L IRUP \WNUlYDQGH RFK EDUULlUVNDSDQGH YlJE\JJQDWLRQHU 2UVDNHQ WLOO YDUI|U GHW XSSVWnU HWW EHKRY DY HQ UHVD 0DQ EUXNDU GHOD LQ UHVRUQD HIWHU KXYXGVDNOLJW lUHQGH $Y DOOD UHVRU HQ JLYHQ PlWGDJ VWRG IULWLGVUHVRUQD I|U SURFHQW DUEHWH VWXGLHU VDPW WMlQVWHUHVRU I|U SURFHQW VHUYLFH RFK LQN|S VDPW |YULJD UHVRU I|U SURFHQW 'U\JW KlOIWHQ DY DOOD UHVRU I|UHWRJV PHG JMRUGHV WLOO IRWV HOOHU PHG KMlOS DY F\NHO .ROOHNWLYWUDILNHQ VWRG I|U SURFHQW %ODQG VDPWOLJD UHVRU XWJ|U DUEHWVUHVRUQD GHQ VW|UVWD GHOHQ )|U UHVRUQD PHG NROOHNWLYWUDILNHQ XWJ|U DUEHWVUHVRUQD GU\JW SURFHQW 'HW lU ULPOLJW DWW DQWD DWW EHKRYHW DY NROOHNWLYWUDILN SnYHUNDV DY EHKRYHQ DY DWW UHVD L DOOPlQKHW RFK EHKRYHQ DY DWW UHVD \QQHUKHW EHE\JJHOVH RFK QlULQJVOLYVVWUXNWXU DQWDO EHERGGD |DU XWDQ IDVW EURI|UELQGHOVH SROLWLVND EHVOXW WUlQJVHODYJLIWHU PLOM|UHVWULNWLRQHU %LOHQ GRPLQHUDU VRP WUDQVSRUWPHGHO L VDPWOLJD UHJLRQHU 'HQ NROOHNWLYD WUDILNHQV DQGHO lU K|JVW L 6WRFNKROP RFK OlJVW L 0HOOHUVWD RFK gYUH 1RUUODQG 6lUVNLOMHU PDQ UHVRUQD WLOO DUEHWH RFK VNROD VWLJHU NROOHNWLYWUDILNHQV DQGHO DY GHW WRWDOD DQWDOHW UHVRU \WWHUOLJDUH L 6WRFNKROPVUHJLRQHQ 0lWW L WLG KDU GH ERHQGH L 6WRFNKROPVUHJLRQHQ GH OlQJVWD DUEHWVUHVRUQD 'U\JW HQ WUHGMHGHO KDU UHVWLGHU Sn |YHU HQ WLPPH WXU RFK UHWXU , DQGUD GHODU DY 6YHULJH OLJJHU PRWVYDUDQGH DQGHO Sn FLUND *HQRP 6&% V UHJLVWHUEDVHUDGH DUEHWVPDUNQDGVVWDWLVWLN NDQ SHQG OLQJHQ |YHU NRPPXQJUlQV XWOlVDV 5HJLRQDOW ILQQV GHW VWRUD VNLOOQD GHU 'HQ K|JVWD DQGHOHQ ILQQV L 6WRFNKROPV 6NnQH VDPW 9lVWUD *|WDODQG 'HQ OlJVWD DQGHOHQ ILQQV L 9lVWHUERWWHQ 1RUUERWWHQ VDPW 9lVWHUQRUUODQG *RWODQG LQWDU KlU HQ VlUVWlOOQLQJ Gn DUEHWV SHQGOLQJHQ WLOO HQ DQQDQ NRPPXQ LQQHElU VYnULJKHWHU Sn JUXQG DY GHW JHRJUDILVND OlJHW