-lJHUGHU8QVWHUEOLFKNHLW
M
6LHVXFKHQHLQHQ=HOODNWLYDWRU²XQGNlPSIHQ XPGDVHZLJH/HEHQ 1U -lJHUGHU8QVW...
4 downloads
450 Views
227KB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
-lJHUGHU8QVWHUEOLFKNHLW
M
6LHVXFKHQHLQHQ=HOODNWLYDWRU²XQGNlPSIHQ XPGDVHZLJH/HEHQ 1U -lJHUGHU8QVWHUEOLFKNHLW YRQ:LOOLDP9ROW]
$WODQ
$XI 7HUUD GHQ :HOWHQ GHV 6RODUHQ ,PSHULXPV XQG GHQ 6WW]SXQNWHQ GHU 862 VFKUHLEWPDQ(QGH2NWREHUGHV-DKUHV6WDQGDUG]HLW 'LH&RQGRV9DVDFGDVJDOD[LVZHLWH9HUEUHFKHUV\QGLNDWGDVGHU862XQGGHP 6RODUHQ ,PSHULXP IU ODQJH =HLW HLQHQ HUELWWHUWHQ .DPSI OLHIHUWH LVW OlQJVW QLFKW PHKU 'LH2UJDQLVDWLRQZXUGHYRQ$JHQWHQGHU862XQG6WUHLWNUlIWHQGHV6RODUHQ,PSHULXPV XQGGHU0DDKNVYRUJHUDXPHU=HLWHQGJOWLJ]HUVFKODJHQ $EHUGDV(QGHGHU&9EHGHXWHWHNHLQHVZHJVGDLQGHU*DOD[LV5XKHKHUUVFKW XQG GD /RUGDGPLUDO $WODQ XQG VHLQH 0LWDUEHLWHU LKUH 7lWLJNHLW HLQVWHOOHQ N|QQHQ ,P *HJHQWHLO²GLH 862 ZLUG QDFK ZLH YRU GULQJHQG EHQ|WLJW 8QG 5RODQG 7HNHQHU XQG 6LQFODLU 0 .HQQRQ GHU 0DQQ PLW GHU ³9ROOSURWKHVH´ EHILQGHQ VLFK OlQJVW ZLHGHU LP JHIlKUOLFKHQ(LQVDW] $OV%DUEDUHQPDVNLHUWIROJHQGLH$JHQWHQ]XVDPPHQPLW%LJ%HQ6SHFLDOGHP ]XPHLVWXQVLFKWEDUHQNOHLQHQ0DQQYRQ6LJDGHU6SXUGHV8QEHNDQQWHQGHUIUHLQH ODQJH5HLKHYRQ0RUGHQDQSURPLQHQWHQ%UJHUQGHV6RODUHQ,PSHULXPVYHUDQWZRUWOLFK LVW -HW]W EHILQGHQ VLFK GLH 0lQQHU GHU 862 LP 6FKOXSIZLQNHO GHV 0|UGHUV 6LH NlPSIHQXP/HEHQXQG7RG²XQGZHUGHQ-b*(5'(58167(5%/,&+.(,7 'LH+DXSWSHUVRQHQGHV5RPDQV 5RQDOG7HNHQHU²'HU8626SH]LDOLVWNlPSIWXPGLH8QVWHUEOLFKNHLW 6LQFODLU0.HQQRQ²'HU5RERWPHQVFKHQWKOOWVHLQHZDKUH,GHQWLWlW %LJ%HQ6SHFLDO²7HNHQHUVXQG.HQQRQVVLJDQHVLVFKHU%HJOHLWHU 5RQQL].DSXUDW²(LQ.RPPDQGDQWUHDJLHUW]XVSlW ,VHND.DPLWDUD²(LQYHUEUHFKHULVFKHU%LRFKHPLNHU $WODQ²/RUGDGPLUDOXQG&KHIGHU862 'RFKNHLQHPJDE1DWXUGDV9RUUHFKWGHU8QVWHUEOLFKNHLW 6FKLOOHU³$OWWHUUDQLVFKHU'LFKWHU´ 352/2* 'LH6FKXW]VFKLUPHGHU8.GLHVLFKLQHLQHP2UELWXPGLH6RQQH5DWRV(ERU EHIDQGZDUHQ]XGUHL9LHUWHOQDXVJHODVWHW'DV6FKLIIVFKLHQLQ6LFKHUKHLW]XVHLQ6HLW .HQQRQ GDV 6FKLII DP 2NWREHU YHUODVVHQ KDWWH XP QDFK .KD]D ]XUFN]XNHKUHQ KHUUVFKWHQ5RXWLQHXQG/DQJHZHLOHDQ%RUG 'LH HLQ]LJH $XIJDEH YRQ 0DMRU 5RQQL] .DSXUDW XQG GHU QHXQ]HKQ DQGHUHQ %HVDW]XQJVPLWJOLHGHUEHVWDQGGDULQDXIHLQHQYXQNVSUXFKGHUGUHL8626SH]LDOLVWHQ ]X ZDUWHQ GLH DXI .KD]D GHQ JHKHLPQLVYROOHQ .5$7$ MDJWHQ XQG GDV 5lWVHO GHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
=HOODNWLYDWRULPSXOVHO|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|VH (UHLJQLVVH DXI .KD]D XQG DXIJHIDQJHQH )XQNERWVFKDIWHQ KDWWHQ LQ GHP.5$7$GHQ9HUGDFKWDXINRPPHQODVVHQGDLP6\VWHPGHU6RQQH5DWRV(ERU 8626SH]LDOLVWHQ DXIJHWDXFKW VHLQ N|QQWHQ 'HU .5$7$ ZDU QLFKW GHU 0DQQ GHU GLH HLJHQH 6LFKHU KHLW GXUFK ODQJHV =|JHUQ JHIlKUGHWH (U ZXWH GD HU VFKQHOO KDQGHOQ PXWHZHQQHUQRFKHLQH&KDQFHKDEHQZROOWH 1XU DXI GHQ 9HUGDFKW KLQ GD GLH PlFKWLJH JDODNWLVFKH 3ROL]HLRUJDQLVDWLRQ 6SH]LDOLVWHQ DXI .KD]D HLQJHVFKOHXVW KDEHQ N|QQWH OLH GHU .5$7$ GHQ 6RQQHQVDWHOOLWHQDNWLYLHUHQ $P 2NWREHU WHUUDQLVFKHU =HLWUHFKQXQJ EHJDQQ GHU ELV ]X GLHVHP =HLWSXQNW Y|OOLJ XQJHIlKUOLFKH )OXJN|USHU ]X EHVFKOHXQLJHQ 6HLQH HPSILQGOLFKHQ 2UWXQJVVHQVRUHQ ULFKWHWHQ VLFK DXI GLH 8. $XI HQWJHJHQJHVHW]WHP .XUV QlKHUWH VLFK GHU 6DWHOOLW GHU .RUYHWWH (U IORJ HLQ $QSDVVXQJVPDQ|YHU DXV HLQHU ZHLWHUHQ 8PODXIEDKQ $OV HU QRFK 0HLOHQ YRQ GHU 8. HQWIHUQW ZDU RUWHWHQ LKQ GLH %HVDW]XQJVPLWJOLHGHU GHV 6FKLIIHV =X GLHVHP =HLWSXQNW KlWWH QRFK GLH &KDQFH ]X HLQHU VFKQHOOHQ )OXFKW EHVWDQGHQ GRFK GHU 0DMRU GHU GHQ %HIHKO DQ %RUG KDWWH ]|JHUWH(UZDUVLFKQLFKWEHUGLH1DWXUGHVKHUDQNRPPHQGHQ)OXJN|USHUVLPNODUHQ ³:LUKDEHQQRFKHLQHIQIXQG]ZDQ]LJSUR]HQWLJH6LFKHUKHLWVUHVHUYHIUGHQ+h 6FKLUP´VDJWH5RQQL].DSXUDW]XGHP1DYLJDWRUGHUGHQVHOWVDPHQ)OXJN|USHU]XHUVW JHRUWHWKDWWH³%HKDOWHQ6LHGDV'LQJLP$XJH´ 'LH %RUGSRVLWURQLN EHJDQQ PLW .XUVYRUDXVEHUHFKQXQJHQ XQG HUPLWWHOWH HLQHQ :DKUVFKHLQOLFKNHLWVZHUW YRQ 3UR]HQW QDFK GHP GHU )OXJN|USHU QXU ZHQLJH 0HLOHQYRQGHU8.HQWIHUQWSDVVLHUHQZUGH ,QGLHVHP$XJHQEOLFNDKQWHGHU0DMRU²GHU6RQQHQVDWHOOLWZDUQXUQRFK 0HLOHQHQWIHUQW²GDIUVHLQH.RUYHWWHXQPLWWHOEDUH*HIDKUEHVWDQG (U EHUOHJWH RE HU GHQ 2UWXQJVVFKXW] GHU 6RQQH 5DWRV(ERU YHUODVVHQ XQG WLHIHU LQ GDV 6\VWHP HLQGULQJHQ VROOWH 'DGXUFK GDV ZXWH HU KlWWH HU QLFKW QXU HLQH 2UWXQJVJHIDKU IU VHLQ 6FKLII KHUDXIEHVFKZRUHQ VRQGHUQ DXFK GLH 7lWLJNHLW GHU GUHL 8626SH]LDOLVWHQDXI.KD]DHQWVFKHLGHQGJHIlKUGHW (UHQWVFKLHGVLFKQRFKHLQLJH=HLW]XZDUWHQ 'LHVH(QWVFKHLGXQJZDUHVGLHGLH.DWDVWURSKHEHVLHJHOWH 'HU 6RQQHQVDWHOOLW H[SORGLHUWH LQ XQPLWWHOEDUHU 1lKH GHU 8. 6HLQH (QHUJLHNDSD]LWlWYRQIQIWDXVHQG*LJDWRQQHQ717WUDIGLH6FKXW]VFKLUPHGHU.RUYHWWH ZLHHLQ6FKODJXQGOLHVLH]XVDPPHQEUHFKHQ 'LH0lQQHULQGHU=HQWUDOHZXUGHQGXUFKHLQHQ/LFKWEOLW]JHEOHQGHW'DV6FKLII ZXUGHVFKZHUHUVFKWWHUWXQGEUDFKDQGHUREHUHQ3RONXSSHODXI$OOH%LOGVFKLUPHXQG
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
2UWXQJVJHUlWH VFKOXJHQ GXUFK hEHUDOO LP 6FKLII ]XFNWHQ hEHUVFKODJEOLW]H KRFK 'LH /|VFKURERWHUVFKRVVHQDXVLKUHQ1LVFKHQGRFKVLHZDUHQYRQGHU:XFKWGHV$QJULIIV HEHQIDOOVLQLKUHQ)XQNWLRQHQJHVW|UWVRGDVLHZHQQVLHEHUKDXSWQRFKGD]XLQGHU /DJH ZDUHQ LKUH 7lWLJNHLW DQ Y|OOLJ IDOVFKHQ 6WHOOHQ DXIQDKPHQ 'LH 1RWEHOHXFKWXQJ IODFNHUWHDXI$ODUPDQODJHQEHJDQQHQ]XKHXOHQ +HIWLJQDFK$WHPULQJHQGVWHPPWHVLFK0DMRU5RQQL].DSXUDWPLWEHLGHQ$UPHQ LP6LW]KRFK (UZDUHLQPLWWHOJURHUEHGlFKWLJZLUNHQGHU0DQQGHUDOVVHKUHUIDKUHQJDOW 'HU QHEHQ LKP VLW]HQGH 1DYLJDWRU ZDU GXUFK GLH SO|W]OLFKH (UVFKWWHUXQJ DXV GHP6LW]JHVFKOHXGHUWZRUGHQXQGJHJHQGLH.RQWUROOHQJHSUDOOW$QGHU+DOWXQJLQGHU HUDP%RGHQODJZDU]XHUNHQQHQGDVHLQ5FNJUDWJHEURFKHQZDU .DSXUDWVDKZHJ ³6FKXW]VFKLUPH ]XVDPPHQJHEURFKHQ´ ULHI HLQH YHU]ZHLIHOW NOLQJHQGH 6WLPPH ³:LUKDEHQ)DKUWYHUORUHQXQGYHUODVVHQXQVHUH8PODXIEDKQ´ :LH DOOH JXWHQ 5DXPIDKUHU EHVD .DSXUDW GLH )lKLJNHLW VHLQ 6FKLII VR ]X EHWUDFKWHQDOVEHIlQGHHUVLFKQLFKWDQ%RUGVRQGHUQHLQSDDU0HLOHQGDYRQHQWIHUQW LP:HOWUDXP 6R VDK HU VHLQ 6FKLII PLW JOKHQGHU $XHQIOlFKH LQ HLQHU ERJHQI|UPLJHQ %DKQ DXIGLH6RQQH5DWRV(ERU]XVWU]HQ 'LHVH9LVLRQGDXHUWHJHQDXHLQH6HNXQGHGDQQNHKUWHQ.DSXUDWV*HGDQNHQLQ GLH:LUNOLFKNHLW]XUFN 'HU %RGHQ XQWHU VHLQHQ )HQ YLEULHUWH GLH 1RWEHOHXFKWXQJ EHJDQQ MHW]W HEHQIDOOV ]X IODFNHUQ XQG LP +DXSWVFKRWW VWDQG GHU VLHE]HKQMlKULJH .DGHWW 8OOVRP VWDUUWH PLW DXIJHULVVHQHQ $XJHQ LQ GLH NOHLQH =HQWUDOH YHUVXFKWH VHLQHQ 6FKXW]DQ]XJ DQ]XOHJHQEHJULIIDEHURIIHQVLFKWOLFKZDVJHVFKHKHQZDU 'LH %HVDW]XQJVPLWJOLHGHU²VRZHLW VLH QRFK GD]X IlKLJ ZDUHQ²EHXJWHQ VLFK EHU GLH .RQWUROOHQ XQG EHU GLH ,QVWUXPHQWH LQ GHU YHU]ZHLIHOWHQ +RIIQXQJ GD VLH QRFK:HUWHDEOHVHQRGHUHLQHVGHU7ULHEZHUNH]XP5HDJLHUHQEULQJHQN|QQWHQ 'HU0DMRUOLHVLFKZLHGHULQGHQ6HVVHOIDOOHQXQGJULII]XP+DXSWQRWVFKDOWHU 6HLQH*HGDQNHQYHUOLHHQGDV6FKLIIDEHUPDOVHUVDKGLHJOKHQGH.XJHOGXUFK PlFKWLJH3URWXEHUDQ]HQUDVHQQDFKREHQJHVFKOHXGHUWYRQGHU.UDIWGHU(QHUJLHDUPH XQGZLHGHUKHUDEJHULVVHQYRQGHU*UDYLWDWLRQGHU6RQQH 'LH +LW]H ZDOOWH MHW]W ZLH )OVVLJNHLW GXUFK GLH 5lXPH GHV 6FKLIIHV XQG KOOWH DOOHVHLQ .DSXUDWGHUGLH1RWVWHXHUXQJXPNODPPHUWKLHOWVSUWH]XVHLQHUhEHUUDVFKXQJ GD GLH 1RWDJJUHJDWH DQVSUDFKHQ (U GUFNWH GLH 6WHXHUXQJ VHLWZlUWV 'DV 6FKLII PDFKWH HLQH PGH %HZHJXQJ RKQH DXV GHQ PlFKWLJHQ .UDOOHQ GHU 6FKZHUNUDIW HQWNRPPHQ]XN|QQHQ :lKUHQGHUPLWHLQHU+DQGGLH6WHXHUXQJXPNODPPHUWHULHUPLWGHUDQGHUHQ VHLQH8QLIRUPMDFNHDXI)UHLQHQNXU]HQ$XJHQEOLFNVDKHUVHLQ*HVLFKWLQGHUGXQNOHQ )OlFKHHLQHV%LOGVFKLUPV(LQHVFKZHLJOlQ]HQGHDXIJHGXQVHQHURWH0DVVHLQGHUGLH $XJHQIDVWYHUVFKZXQGHQZDUHQ (LQ 0HGR5RERWHU UROOWH DQ GHQ .RQWUROOHQ YRUEHL XQG VSUKWH IOVVLJHV 3URWRSODVPD DXI GLH 0lQQHU (LQHU GHU 5DXPIDKUHU VSUDQJ DXI XQG UDQQWH DXV GHU =HQWUDOH3O|W]OLFKYHUVWXPPWHGDV=LVFKHQGHUEHUODVWHWHQ.OLPDDQODJH'LH6FKRWWH ZXUGHQYRQGHU5HWWXQJVDXWRPDWLNYHUVFKORVVHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
0DUJRULW GHU NOHLQH 5DXPIDKUHU GHU LQ VHLQHU )UHL]HLW %LOGHU PDOWH WDXFKWH QHEHQ.DSXUDWDXI(UZDUQDFNWELVDXIVHLQHEOXWYHUVFKPLHUWH+RVH ³'DV6FKLIIVWU]WLQGLH6RQQH´VWLHHUKHUYRU³:LUZHUGHQYHUEUHQQHQ´ 'DV6FKLIIVW|KQWHZLHHLQYHUZXQGHWHV7LHUEHUHLWVLQGLHVHP$XJHQEOLFNO|VWHQ VLFKPHWHUJURH7HLOHDXVVHLQHU8PKOOXQJXQGYHUJOKWHQHQGJOWLJ 'DV1RWDJJUHJDW]HLJWHNHLQH5HDNWLRQPHKU ³6FKXW]DQ]JHDQOHJHQ´VFKULH.DSXUDW (U HUKRE VLFK VFKZDQNHQG XQG VWLH 0DUJRULW ]XU 6HLWH GHU VLFK DQ LKQ NODPPHUQZROOWH8OOVRPODJYRUGHP6FKRWWHUKDWWHGHQ+HOPEHUGHQ.RSIJH]RJHQ XQGZDUGDQDFKRIIHQEDUEHZXWORVJHZRUGHQ 'LH/XIWZDUZLHJOKHQGHV)HXHUXQGEUDQQWHLQ.DSXUDWV/XQJHQ(UWDXPHOWH TXHU GXUFK GHQ 5DXP XQG UL GHQ 6FKUDQN DXI ZR GLH 6FKXW]DQ]JH KLQJHQ (LQ :DVVHUVSHLFKHUZDUJHSODW]WVHLQ,QKDOWZDU]XPJU|WHQ7HLOYHUGDPSIWXQGKDWWHVLFK DOV.RQGHQVZDVVHUDXIGHQ+HOPHQGHU6FKXW]DQ]JHQLHGHUJHVFKODJHQ .DSXUDW UL VHLQHQ $Q]XJ KHUDXV 'DV 0DWHULDO IKOWH VLFK KHL DQ 'HU 0DMRU JULII QDFK HLQHP 6DXHUVWRIIYHQWLO IKUWH HV LQ GHQ 0XQG XQG |IIQHWH GHQ =XIXKUKDKQ GHV5FNHQWRUQLVWHUV(UIKOWH(UOHLFKWHUXQJDOVGLHQRFKQLFKWEHUPlLJHUKLW]WH/XIW LQVHLQH/XQJHQVWU|PWH :LHGXUFKHLQHQ6FKOHLHUVDKHUHLQSDDU3DSLHUHGLHDXIHLQHP7LVFKQDKHEHL GHQ .RQWUROOHQ ODJHQ LQ )ODPPHQ DXIJHKHQ 'LH 0lQQHU GLH LKUH 6LW]H QRFK QLFKW YHUODVVHQKDWWHQOLHHQLKUH.|SIHQDFKYRUQVLQNHQLKUH$UPHXQG%HLQH]XFNWHQ 'HQ %OLFN YRQ DXHQ DXI GDV 6FKLII JHULFKWHW HUOHEWH .DSXUDW ZLH GLH 8. LKUHP PlFKWLJHQ *UDE HQWJHJHQVWU]WH 'HU 0DMRU ZXWH GD VLH GLH HLJHQWOLFKH 2EHUIOlFKHYRQ5DWRV(ERUQLFKWPHKUHUUHLFKHQVRQGHUQYRUKHUYHUJOKHQZUGH $XI VHLQHQ +lQGHQ ELOGHWHQ VLFK %ODVHQ (U PXWH GHQ 5FNHQWRUQLVWHU ORVODVVHQ $XFKGLH/XIWDXVGHP$JJUHJDWHUKLW]WHVLFK 9RQGHU=HQWUDOHZDUQLFKWPHKUYLHO]XVHKHQ1HEHODUWLJH+LW]HVFKOHLHUWULHEHQ YRUEHLhEHUDOOEUDFKHQ)HXHUDXV .DSXUDWYHUPXWHWHGDHUVLFKDOVHLQ]LJHV%HVDW]XQJVPLWJOLHGQRFKDP/HEHQ EHIDQG (UIKOWHVLFKVHKUHLQVDP 2KQH ]X ]|JHUQ VSXFNWH HU GDV 6DXHUVWRIIYHQWLO DXV %HUHLWV QDFK GHP HUVWHQ $WHP]XJ KHLHU /XIW EHJDQQ HU ]X HUVWLFNHQ (U ZlO]WH VLFK DXI GHQ 5FNHQ XQG YHUEUDQQWH 6HLQ OHW]WHU *HGDQNH JDOW GHQ GUHL 8626SH]LDOLVWHQ DXI .KD]D GLH QDFK GHP (QGHGHU8.Y|OOLJDXIVLFKJHVWHOOWVHLQZUGHQ 7HNHQHU ,FK ZHL QLFKW ZLH RIW GLH .UDWDPRQHQXQV QRFK YHUK|UHQ ZROOHQ DEHU LFK ELQ VLFKHU GD LKU ,QWHUHVVH ZHQLJHU GHP SULPLWLYHQ 6HJHO JLOW GDV VLH GXPPHUZHLVH HQWGHFNW KDEHQ DOV GHP )UHPGHQ GHQ HV QLFKW JLEW GHQ .HQ XQG LFK MHGRFK ]X XQVHUHU HLJHQHQ 6LFKHUKHLW HUILQGHQ PXWHQ 'LH DFKWXQGVHFK]LJ JHUHWWHWHQ (GOHQ EHILQGHQ VLFK LQQHUKDOE GHV GXQNOHQ 0RQGHV ZLU VLQG QDFK ZLH YRU PLW GHQ 6NODYHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
DOOHLQ GLH XQV RIIHQEDU KDVVHQ ZHLO VLH XQV LQVWLQNWLY IU LKUH 6FKZLHULJNHLWHQ YHUDQWZRUWOLFKPDFKHQ %LJ%HQ6SHFLDOLVWHQWVFKORVVHQLQGLH.UDWHULQVHOHLQ]XGULQJHQHUKlWWHVHLQHQ 3ODQ ZDKUVFKHLQOLFK VFKRQ OlQJVW YHUZLUNOLFKW ZHQQ .HQQRQ PLW VHLQHU N|USHUHLJHQHQ )XQNDQODJHQLFKWYRUZHQLJHQ6WXQGHQHLQ1RWVLJQDOGHU8.DXIJHIDQJHQKlWWH (VZDUHLQDXWRPDWLVFKHV6LJQDOZDVQXUEHGHXWHQNDQQGDQLHPDQGDQ%RUG *HOHJHQKHLWKDWWHHV]XHUJlQ]HQRGHUJDUHLQH(UNOlUXQJDE]XJHEHQ 'DVLFKGDV6FKLIIELVKHUQLFKWZLHGHUJHPHOGHWKDWPVVHQZLUDQQHKPHQGD HVQLFKWPHKUH[LVWLHUW:LUVLQGXQVDOOHGUHLGDUEHULPNODUHQZDVGDVEHGHXWHW:LU KDEHQNHLQ6FKLIIPLWGHPZLU]XHLQHP8626WW]SXQNW]XUFNIOLHJHQN|QQHQXQGZLU KDEHQ NHLQ )XQNJHUlW GDV ZHLWUHLFKHQG JHQXJ LVW XP HLQ 8626FKLII RGHU HLQH 8626WDWLRQ]XDODUPLHUHQ 'DV EHGHXWHW GD ZLU DOOHLQ PLW XQVHUHQ JHZL QLFKW JHULQJHQ 6FKZLHULJNHLWHQ IHUWLJZHUGHQPVVHQ ,FKJHVWHKHPLUHLQGDPHLQHWURW]DOOHPXQJHEURFKHQH(QWVFKORVVHQKHLW]XP JU|WHQ7HLODXVGHQ*HGDQNHQDQGHQLUJHQGZRDXI.KD]DYRUKDQGHQHQ=HOODNWLYDWRU UHVXOWLHUW(VLVWQLFKWVRGDLFKKLQWHUGHP*HUlWKHUELQXPLKQYRUGHP.5$7$]X EHNRPPHQXQGLKQIUGLH862VLFKHU]XVWHOOHQ,FKJHEHPLFKGHU,OOXVLRQKLQGDHV P|JOLFKVHLQPXGHQ$NWLYDWRULQGHQHLJHQHQ%HVLW]]XEULQJHQ1DWUOLFKELQLFKPLU GDUEHU LP NODUHQ GD GLHV HLQ YHUUFNWHU :XQVFK LVW DEHU LFK ELQ HLQ 0HQVFK XQG VHKQHPLFKDOVVROFKHUQDFK8QVWHUEOLFKNHLW1LHPDOV]XYRUZDULFKLKUVRQDKHZLHKLHU DXI.KD]D 2EZRKO HU PHLQ EHVWHU )UHXQG LVW KDEH LFK PLW .HQQRQ QRFK QLFKW EHU PHLQH *HGDQNHQJHVSURFKHQ,FKEHIUFKWHGDHUVLHQLFKWYHUVWHKHQZLUG6HLQ*HKLUQGDV NQVWOLFK HUQlKUW ZLUG EHVLW]W HLQH PLQGHVWHQV WDXVHQGMlKULJH /HEHQVHUZDUWXQJ $XFK %LJ %HQ 6SH]LDO ZLUG VHKU DOW ZHUGHQ²HU LVW DXHUGHP YLHO ]X NOHLQ XP GDV *HUlW WUDJHQ]XN|QQHQ (V LVW IDOVFK GD LFK PHLQH EHLGHQ )UHXQGH XQEHZXW DOV .RQNXUUHQWHQ HLQVFKlW]H DEHU LFK NRPPH QLFKW GDJHJHQ DQ ,Q PHLQHU 3KDQWDVLH PDOH LFK PLU DXV ZLHHVZlUHZHQQLFKHLQHQ=HOODNWLYDWRUKlWWH 0DQFKPDOKDEHLFKGHQ9HUGDFKWGD.HQQRQHWZDVYRQPHLQHQhEHUOHJXQJHQ DKQW6HLQHPNULPLQDOLVWLVFKJHVFKXOWHQ*HKLUQEOHLEWQXUZHQLJYHUERUJHQ ,FK YHUVXFKH GLH 6LWXDWLRQ UHDOLVWLVFK HLQ]XVFKlW]HQ ,P $XJHQEOLFN LVW HV VLQQORV DQ GHQ $NWLYDWRU ]X GHQNHQ :LU N|QQHQ IURK VHLQ ZHQQ ZLU PLW GHP /HEHQ GDYRQNRPPHQ 7URW]GHP,FKNDQQPLFKQLFKWJHJHQGLHVHYHUIKUHULVFKHQ*HGDQNHQZHKUHQ
'LH.UDWDPRQHQGLHGLHEHLGHQ6SH]LDOLVWHQ]XPGULWWHQ9HUK|UKROWHQPDFKWHQ HLQHQDXIJHUHJWHQXQGXQJHGXOGLJHQ(LQGUXFN(VZDURIIHQVLFKWOLFKGDVLHYRQLKUHP %HIHKOVJHEHUJHGUlQJWZXUGHQHQGOLFKJUHLIEDUH5HVXOWDWH]XHU]LHOHQ %LJ %HQ 6SHFLDO EHIDQG VLFK LQ VHLQHP 9HUVWHFN LQ .HQQRQV 5RERWN|USHU 'RUW ZDU HU LQ 6LFKHUKHLW²VRODQJH PDQ GLH ZDKUH ,GHQWLWlW GHV 8626SH]LDOLVWHQ QLFKW IHVWVWHOOWH 'LHVHFKV.UDWDPRQHQGLHVLH]XP9HUK|UDEKROWHQZDUHQEHZDIIQHWXQGOLHHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
GLHEHLGHQ*HIDQJHQHQQLFKWDXVGHQ$XJHQ 'LHVPDO ZXUGHQ 7HNHQHU XQG .HQQRQ GXUFK HLQHQ *DQJ JHIKUW GHQ VLH QRFK QLFKW JHVHKHQ KDWWHQ 'HFNH XQG :lQGH EHVWDQGHQ DXV JODWWJHVFKOLIIHQHP /DYDJHVWHLQ GHU %RGHQ ZDU PLW HLQHU ZHLFKHQ 0DVVH DXVJHJRVVHQ .XJHOI|UPLJH /DPSHQ VSHQGHWHQ /LFKW $XV ZHLWHU HQWIHUQWHQ 5lXPHQ HUW|QWH GDV 'U|KQHQ YRQ 0DVFKLQHQ$XFKKLHULP*DQJZDUHVXQJHZ|KQOLFKKHL 7HNHQHU IUFKWHWH GD GLH .UDWDPRQHQ QHXH $QZHLVXQJHQ EHNRPPHQ KDWWHQ XQG GLHVPDO ZHQLJHU UFNVLFKWVYROO VHLQ ZUGHQ 'LH *HIDKU EHVWDQG GD VLH KHUDXVIDQGHQ ZHU .HQQRQ ZLUNOLFK ZDU :HQQ LKQHQ GDV JHOLQJHQ VROOWH ZDUHQ GLH 8626SH]LDOLVWHQYHUORUHQ 7URW]GHPKLHOW7HNHQHUHLQH)OXFKWIUVLQQORV :RKLQKlWWHQVLHVLFKZHQGHQVROOHQ" (LQ hEHUVWHLJHQ GHU KRFKDXIUDJHQGHQ .UDWHUZlQGH ZDU XQP|JOLFK GDV 8%RRW PLWGHPVLHJHNRPPHQZDUHQODJJXWEHZDFKWLP+DIHQ 'HU*DQJPQGHWHLQHLQH+DOOHLQGHUPHKUHUHIODFKH)DKU]HXJHSDUNWHQGLH RIIHQEDU DXVVFKOLHOLFK IU GHQ 3HUVRQHQYHUNHKU EHVWLPPW ZDUHQ 'LH +DOOH EHVD VLHEHQ GLFKW QHEHQHLQDQGHUOLHJHQGH $XVJlQJH GLH DOOH PLW 6SHUUHQ YHUVHKHQ ZDUHQ 1HEHQMHGHU6SHUUHVWDQGHQNUDWDPRQLVFKH:lFKWHU 'LH 0lQQHU GLH GLH EHLGHQ 6SH]LDOLVWHQ DEJHKROW KDWWHQ VWHXHUWHQ HLQHV GHU )DKU]HXJHKHUDQXQGEHIDKOHQGHQ*HIDQJHQHQDXI]XVWHLJHQ ³'LHVPDOZHUGHQZLUZHLWHUZHJJHEUDFKW´UDXQWH7HNHQHUVHLQHP)UHXQG]X .HQQRQ QLFNWH QXU (U KDWWH GHQ 9HUGDFKW GD VLH GLHVPDO LP ,QQHUQ MHQHV /DYDEURFNHQV YHUK|UW ZHUGHQ VROOWHQ GHU DOV ULHVLJHU 9HUVFKOXSIURSIHQ LQPLWWHQ GHV .UDWHUVODJ 'DVNRQQWHEHGHXWHQGDGHU.5$7$GDV9HUK|USHUV|QOLFKOHLWHQZUGH 'LH :lFKWHU YHUWHLOWHQ VLFK =ZHL QDKPHQ DXI GHP :DJHQ 3ODW] ZR GLH 6SH]LDOLVWHQVDHQGLHYLHUDQGHUHQNOHWWHUWHQDXIHLQ)DKU]HXJGDVGHPHUVWHQIROJWH (LQHGHU6SHUUHQZXUGHRKQHEHVRQGHUH8PVWlQGHJH|IIQHW $OV GLH EHLGHQ :DJHQ LQ GHQ *DQJ KLQHLQJOLWWHQ HUW|QWH SO|W]OLFK HLQ GXPSIHV *HUlXVFK DOV ZUGH HLQ JHµ ZDOWLJHU *RQJ JHVFKODJHQ 'LH :lFKWHU KREHQ DODUPLHUW GLH.|SIH7HNHQHUPHUNWHVRIRUWGDHWZDVQLFKWLQ2UGQXQJZDU'HU%RGHQEHJDQQ ]XYLEULHUHQ(LQGXPSIHV*UROOHQZXUGHK|UEDU 'LH:lFKWHUEHJDQQHQ]XVFKUHLHQ6LHVSUDQJHQYRQGHQ:DJHQKHUXQWHUXQG EOLFNWHQ VLFK XQVFKOVVLJ LP *DQJ XP DOV ZlUHQ VLH VLFK QLFKW GDUEHU LP NODUHQ LQ ZHOFKH5LFKWXQJVLHIOLHKHQVROOWHQ ³:DVEHGHXWHWGDV"´ULHI7HNHQHU ³9HUPXWOLFKHLQ%HEHQ´JDE.HQQRQ]XUFN³,FKIUDJHPLFKZDUXPGHU.5$7$ VHLQ +DXSWTXDUWLHU DXI HLQHP 9XONDQ HUEDXW KDW $OV :LVVHQVFKDIWOHU KlWWH HU ZLVVHQ PVVHQZHOFKH*HIDKUHQLKPKLHUGURKHQ´ 'LH 6W|H GLH GLH 5lXPH XQG *lQJH HUVFKWWHUWHQ ZXUGHQ LPPHU KHIWLJHU 8QPLWWHOEDU EHU GHQ EHLGHQ :DJHQ ELOGHWH VLFK HLQ EUHLWHU 5L LQ GHU 'HFNH )HLQHU 6WDXEVDQNODQJVDPKHUDE 'DVZDUIUGLH.UDWDPRQHQGDVHQGJOWLJH6LJQDO]XU)OXFKW2KQHVLFKOlQJHU XPGLHEHLGHQ*HIDQJHQHQ]XNPPHUQVWUPWHQVLHGDYRQ6LHVFKOXJHQGLH5LFKWXQJ HLQDXVGHUGLH:DJHQJHNRPPHQZDUHQ 7HNHQHUEOLFNWHLKUHQQDFK
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³:RKLQVLHZRKOIOLHKHQ"´ ³=XP +DIHQ YHUPXWOLFK´ HUZLGHUWH GHU 0DQQ PLW GHP 5RERWN|USHU ³,FK IUDJH PLFKQXUREVLHLKQHUUHLFKHQZHUGHQ$XHUGHPZHUGHQDOOH'LHQHUGHV.5$7$GLH VLFK QLFKW JHUDGH LP 3IURSIHQ EHU GHP (UXSWLYNUDWHU DXIKDOWHQ MHW]W ]XP +DIHQ DXIEUHFKHQ´ ³8QGZDVWXQZLU"´IUDJWH7HNHQHU(UEOLFNWHLPPHUZLHGHU]XU'HFNHKLQDXI ³:LU ZUGHQ GHQ +DIHQ QLHPDOV HUUHLFKHQ´ PHLQWH .HQQRQ ³$OOH IOLHKHQGHQ .UDWDPRQHQ ZUGHQ DXI XQV VFKLHHQ (V LVW GDKHU EHVVHU ZHQQ ZLU GLH XPJHNHKUWH 5LFKWXQJHLQVFKODJHQ´ 7HNHQHUVDKLKQVWLUQUXQ]HOQGDQ ³'X PHLQVW GD ZLU YHUVXFKHQ VROOWHQ LQ GLHVHV ]ZLHEHOI|UPLJH *HELOGH HLQ]XGULQJHQ GDV %LJ %HQ HQWGHFNW KDW XQG GDV RIIHQVLFKWOLFK GDV +DXSWTXDUWLHU GHV .5$7$LVW"´ ³-D´ .HQQRQ QDKP DQ GHU 6WHXHUXQJ GHV :DJHQV 3ODW] (U KDWWH VLFK JHQDX HLQJHSUlJWZLHGLH.RQWUROOVFKDOWXQJHQGHV)DKU]HXJVEHGLHQWZXUGHQVRGDHVLKP QLFKW VFKZHUILHO GHQ :DJHQ ZLHGHU LQ *DQJ ]X EULQJHQ 6LH IXKUHQ ZHLWHU GXUFK GHQ *DQJGHULPPHUZLHGHUYRQ(UGVW|HQHUVFKWWHUWZXUGHhEHUDOOHQWGHFNWHQVLH5LVVH LQGHQ:lQGHQXQGLQGHU'HFNH(LQ7HLOGHU/DPSHQZDU]HUVW|UWZRUGHQXQGEUDQQWH QLFKW PHKU DEHU GLH 6FKHLQZHUIHU GHV )DKU]HXJV VSHQGHWHQ JHQJHQG /LFKW XP GLH 8PJHEXQJVLFKWEDUZHUGHQ]XODVVHQ ³(V LVW HLQ :XQGHU GD GHU *DQJ QRFK QLFKW HLQJHVWU]W LVW´ ULHI 7HNHQHU VHLQHP%HJOHLWHU]X 6LH NDPHQ DQ HLQH 6WHOOH DQ GHU GHU %RGHQ DXIJHEURFKHQ ZDU (LQ GUHL 0HWHU EUHLWHU6SDOWGHUWLHILQGHQ%RGHQUHLFKWHYHUVSHUUWHLKQHQGLH:HLWHUIDKUW ³:LU PVVHQ GHQ :DJHQ ]XUFNODVVHQ´ HQWVFKLHG .HQQRQ (U ZDQGWH VLFK DQ %LE%HQ6SHFLDO³(VLVWEHVVHUZHQQ6LHYRUOlXILJLQ,KUHP9HUVWHFNEOHLEHQ´ 'HU6LJDQHVHZDUHLQYHUVWDQGHQ6LFKHUHUDOVLP.|USHUGHV*HKLUQVNRQQWHHU QLUJHQGVVHLQ 7HNHQHU VSUDQJ EHU GHQ 6SDOW KLQZHJ (LQ SDDU 0HWHU XQWHU LKP ODJHQ ]ZHL .UDWDPRQHQGLHDEJHVWU]WZDUHQXQGGDEHLGHQ7RGJHIXQGHQKDWWHQ ³'XN|QQWHVWYRUDXVODXIHQ´ULHI7HNHQHUVHLQHP%HJOHLWHU]X³'XELVWVFKQHOOHU DOVLFK´ ³8QVLQQ´HUZLGHUWHGHU.ULPLQDOLVW³:LUEOHLEHQ]XVDPPHQ´ 6LHJHODQJWHQDQHLQH.UHX]XQJ.HQQRQEOLHEVWHKHQXQGRUWHWH ³:LUJHKHQLQGLH5LFKWXQJDXVGHUGLHPHLVWHQ,PSXOVHNRPPHQ´HQWVFKLHGHU ³'RUWOLHJW]ZHLIHOORVGDV+DXSWTXDUWLHUGHV.5$7$´ 6LHK|UWHQ6WLPPHQJHZLUUGDVVFKQHOOQlKHUNDP ³.UDWDPRQHQ´ .HQQRQ GHXWHWH LQ GHQ 6HLWHQJDQJ ³:LU YHUVWHFNHQ XQV XQG ZDUWHQELVVLHYRUEHLVLQG6LFKHUZROOHQVLH]XP+DIHQ´ 'LHEHLGHQ6SH]LDOLVWHQ]RJHQVLFKLQGHQ6HLWHQJDQJ]XUFN-HW]WNRQQWHQVLH GDV 7UDPSHOQ YRQ 6WLHIHOQ K|UHQ (LQH *UXSSH YRQ ]HKQ 0lQQHUQ XQG )UDXHQ ZXUGH VLFKWEDU 'LH )OFKWOLQJH EOLFNWHQ QLFKW QDFK UHFKWV RGHU OLQNV VRQGHUQ VWUPWHQ EOLQGOLQJVGXUFKGHQ.RUULGRU6LHZDUHQLQIDUELJH*HZlQGHUJHNOHLGHWXQGVFKOHSSWHQ :DIIHQXQGSUDOOJHIOOWH6lFNHPLWVLFK .HQQRQXQG7HNHQHUZDUWHWHQELVGHU/lUPYHUNOXQJHQZDUGDQQNHKUWHQVLHLQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
GHQ+DXSWJDQJ]XUFN1DFKHLQHUVFKZHUHQ(UVFKWWHUXQJGLHYRQKDOOHQGHP'RQQHU EHJOHLWHW ZXUGH HUORVFK GDV /LFKW LP *DQJ HQGJOWLJ .HQQRQ GHU DXFK LQ Y|OOLJHU 'XQNHOKHLW VHKHQ NRQQWH |IIQHWH VHLQH %DXFKNODSSH XQG QDKP HLQHQ +DQGVFKHLQZHUIHUKHUDXV(UUHLFKWHLKQ7HNHQHU ³,FKKDEHGDV*HIKOGDZLUJHUDGHZHJVLQGDV9HUGHUEHQUHQQHQ´VDJWHGHU 6SLHOHUJULPPLJ ³$OV GLH (UVFKWWHUXQJHQ LKUHQ +|KHSXQNW HUUHLFKWHQ RUWHWH LFK ZLHGHU GLH ,PSXOVH GHV =HOODNWLYDWRUV´ HUNOlUWH .HQQRQ ³6LH VFKLHQHQ YRQ VHKU ZHLW KHU ]X NRPPHQDEHUGDVNDQQQDWUOLFKHLQH7lXVFKXQJVHLQ´ 7HNHQHUVDKVHLQHQ)UHXQGDQXQGSUHWHGLH/LSSHQ]XVDPPHQ 6LH VHW]WHQ LKUHQ 0DUVFK IRUW 7HNHQHU ZXWH GD GLH 'HFNH MHGHQ $XJHQEOLFN HLQEUHFKHQ NRQQWH (U ZDU GDQQ ZHLWDXV PHKU JHIlKUGHW DOV .HQQRQ GHU VLFK PLW VHLQHP5RERWN|USHUXQWHUHLQSDDU7RQQHQ/DYDJHVWHLQKHUYRUZKOHQNRQQWH 7HNHQHUKDWWHGHQ(LQGUXFNGDGLH/XIWLPPHUVFKOHFKWHUZXUGH(VURFKQDFK YHUEUDQQWHP .XQVWVWRII 6LH NDPHQ DQ ZHLWHUHQ 6HLWHQJlQJHQ YRUEHL DEHU .HQQRQ EHKLHOWGLHHLQPDOHLQJHVFKODJHQH5LFKWXQJEHLXQGYHUOLHUGHQ+DXSWNRUULGRUQLFKW (LQ$XIVFKUHLOLHLKQVWHKHQEOHLEHQ*OHLFKGDUDXIIODFNHUWHYRULKQHQHLQ/LFKW 7HNHQHUO|VFKWHGHQ6FKHLQZHUIHU ³)OFKWOLQJH´VDJWHHUOHLVH :LHGHU HLQ 6FKUHL -HPDQG EHIDQG VLFK LQ lXHUVWHU 1RW (LQ SDDU 6FKVVHSHLWVFKWHQ GXUFK GHQ *DQJ 'DQQ ZDU HV HLQ SDDU 0LQXWHQ ODQJ UXKLJ 'LH EHLGHQ6SH]LDOLVWHQZROOWHQEHUHLWVZHLWHUJHKHQDOV6FKULWWHK|UEDUZXUGHQ'DV/LFKW WDXFKWHZLHGHUYRULKQHQDXI ³(V VLQG GUHL 0lQQHU´ HUNOlUWH .HQQRQ VR OHLVH GD 7HNHQHU LKQ NDXP YHUVWHKHQ NRQQWH ³6LH KDEHQ HLQHQ 9HUZXQGHWHQ GDEHL GHQ VLH DXI HLQHU 0DWWH QDFK]LHKHQ´ ³6LHZHUGHQXQVVHKHQ´SURSKH]HLWH7HNHQHU ³'DVZLUGVLFKQLFKWYHUPHLGHQODVVHQ´ (U O|VWH VLFK YRQ GHU :DQG XQG UDQQWH ORV %HYRU GLH .UDWDPRQHQ ULFKWLJ EHJULIIHQ ZDV PLW LKQHQ JHVFKDK KDWWH .HQQRQ VLH HUUHLFKW XQG UL LKQHQ GLH :DIIHQ DXV GHQ +lQGHQ 'LH /DPSH GLH GLH .UDWDPRQHQ EHL VLFK KDWWHQ ILHO ]X %RGHQ XQG HUORVFK6HNXQGHQVSlWHUVWDQG.HQQRQVFKRQZLHGHUQHEHQVHLQHP)UHXQG 'LH .UDWDPRQHQ VFKULHQ GXUFKHLQDQGHU :DKUVFKHLQOLFK ZDUHQ VLH VLFK LPPHU QRFKQLFKWGDUEHULPNODUHQZHUVLHDQJHJULIIHQKDWWH ³:LUVFKOHLFKHQXQVDQLKQHQYRUEHL´VDJWH.HQQRQXQGHUJULII7HNHQHUDQHLQHU +DQG 6LH SDVVLHUWHQ GLH )OFKWOLQJH RKQH =ZLVFKHQIDOO .HQQRQ HUNOlUWH VHLQHP %HJOHLWHU GD GLH .UDWDPRQHQ QRFK LPPHU QDFK GHU /DPSH XQG QDFK LKUHQ :DIIHQ VXFKWHQ ³+DVWGXGHQ6FKXZHFKVHONXU]YRUGHP=XVDPPHQWUHIIHQPLWGHQ)OFKWOLQJHQ JHK|UW"´IUDJWHHUDEVFKOLHHQG ³1DWUOLFK´ JDE 7HNHQHU ]XUFN ³'LH .UDWDPRQHQ VFKHLQHQ HLQDQGHU QLFKW ]X WUDXHQ´ ³,FK YHUPXWH GD HV GLH )DPLOLHQ VLQG GLH VLFK MHW]W UFNVLFKWVORV EHNULHJHQ´ EHUOHJWHGDV*HKLUQODXW³-HGH*UXSSHP|FKWHDOVHUVWHKLHUKHUDXV´ 6LH JLQJHQ ZHLWHU XQG HUUHLFKWHQ ZHQLJ VSlWHU HLQH JHUlXPLJH +DOOH LQ GHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
0DVFKLQHQ XQG 6FKDOWWDIHOQ DXIJHVWHOOW ZDUHQ .HQQRQ EOLFNWH VLFK XP XQG HQWGHFNWH DXFK )XQNDQVFKOVVH XQG %LOGVFKLUPH )DVW DOOH ,QVWUXPHQWH ZLHVHQ %HVFKlGLJXQJHQ DXI6WDXEODJDXIDOOHQ*HUlWHQ'HU%RGHQZDUDQPHKUHUHQ6WHOOHQDXIJHULVVHQ ³'DVLVWHLQH$UW=ZLVFKHQVWDWLRQ´HUNOlUWH.HQQRQ³,FKQHKPHDQGDVLHXQWHU QRUPDOHQ8PVWlQGHQVWlQGLJEHVHW]WLVW´ (U XQWHUVXFKWH GLH )XQNJHUlWH VWHOOWH MHGRFK IHVW GD VLH DOOH DXVJHIDOOHQ ZDUHQ$XIGHUDQGHUHQ6HLWHGHV5DXPHVIDQGHUHLQHQWRWHQ.UDWDPRQHQ'HU0DQQ KDWWHHLQH6FKXYHUOHW]XQJLP5FNHQ ³(UZXUGHHUPRUGHW¶VWHOOWH.HQQRQIHVW³(VVLHKWVRDXVDOVVHLGLHEHVWHKHQGH 2UGQXQJHQGJOWLJ]XVDPPHQJHEURFKHQ´ 7HNHQHU OLH GHQ /LFKWVFKHLQ VHLQHV 6FKHLQZHUIHUV EHU GLH YHUVFKLHGHQHQ $XVJlQJHZDQGHUQ ³:HOFKH5LFKWXQJ"´ ³'RUW´VDJWH.HQQRQXQGGHXWHWHDXIHLQH]HUVW|UWH6SHUUH $OV GLH EHLGHQ 6SH]LDOLVWHQ GDUDXI ]XJLQJHQ JDE HV HLQH QHXH (UVFKWWHUXQJ 0LW H[SORVLRQVDUWLJHQ *HUlXVFKHQ EDUVWHQ GLH %LOGVFKLUPH *ODV UHJQHWH DXI GHQ %RGHQ7HNHQHUYHUORUGHQ+DOWXQGVWROSHUWHEHUHLQ.DEHO(LQ7HLOGHU'HFNHO|VWH VLFK NQLUVFKHQG DXV GHU 9HUDQNHUXQJ XQG NUDFKWH DXI GLH 0DVFKLQHQ KHUDE 7HNHQHU NURFK LQVWLQNWLY ZHLWHU GDV /LFKW VHLQHV 6FKHLQZHUIHUV ZXUGH MHW]W IDVW Y|OOLJ YRUQ KRFKJHZLUEHOWHQ6WDXEJHVFKOXFNW 'DQQ ZDU .HQQRQ DQ VHLQHU 6HLWH UL LKQ KRFK XQG WUXJ LKQ PKHORV ELV ]XP QlFKVWHQ$XVJDQJ ³6FKRQJXW´VDJWH7HNHQHUDOVVLHGHQ*DQJEHWUHWHQKDWWHQ³'XNDQQVWPLFK ZLHGHUORVODVVHQ´ .HQQRQVWHOOWHLKQDXIGLH%HLQH ³:HQQ GDV VR ZHLWHUJHKW ZLUG EDOG DOOHV HLQVWU]HQ´ VDJWH GHU .ULPLQDOLVW EHGlFKWLJ 7HNHQHUOHXFKWHWHLKPLQV*HVLFKW ³+lOWVWGXHVQLFKWIUEHVVHUZHQQGXXQWHUGLHVHQ8PVWlQGHQYHUVFKZLQGHVW"´ (UHUKLHOWNHLQH$QWZRUW 1DFKGHP VLH HLQ SDDU KXQGHUW 0HWHU ]XUFNJHOHJW KDWWHQ ZDU GHU *DQJ ]X (QGH (U PQGHWH DXI HLQH HWZD ]HKQ 0HWHU EUHLWH (PSRUH GHUHQ %RGHQ PLW 0HWDOOJLWWHUQ DXVJHOHJW ZDU 'LH (PSRUH ZDU LQ ]ZDQ]LJ 0HWHUQ +|KH EHU HLQHU NUHLVI|UPLJHQ+DOOHDQJHEUDFKW,QGHU+DOOHEUDQQWHQQRFKHLQSDDU/DPSHQ,KU/LFKW ILHO DXI HLQHQ PlFKWLJHQ 0DVFKLQHQEORFN GHP RIIHQEDU HLQH EHVRQGHUV ZLFKWLJH $XIJDEH]XNDPGHQQHUZXUGHYRQPHKUHUHQ0lQQHUQEHZDFKWGLHLKUHQ3ODW]QRFK QLFKW YHUODVVHQ KDWWHQ 'LHVH .UDWDPRQHQ 7HNHQHU ]lKOWH LQVJHVDPW ]ZHLXQGGUHLLJ EHVDHQODQJH]RSIlKQOLFKHJHIORFKWHQH+DDUHXQGWUXJHQKHOOJHOEH8QLIRUPHQ ³'DV VFKHLQW HLQH $UW (OLWHWUXSSH ]X VHLQ´ IOVWHUWH .HQQRQ ³9HUPXWOLFK LVW VLH QXULP=HQWUXPWlWLJ´ 7HNHQHUEOLFNWHVLFKXPXQGHQWGHFNWHGDEHLYLHUWUHSSHQlKQOLFKH$EJlQJHGLH DOOHLQGLH+DOOHKLQDEIKUWHQ2EHQDXIGHU(PSRUHJDEHVNHLQH$XVJlQJH (LQ 7HLO GHV %RGHQJLWWHUV ZDU GXUFK GLH (UVFKWWHUXQJHQ EHUHLWV JHORFNHUW XQG KLQJLQGLH7LHIH(LQHGHU7UHSSHQZDUVRVHKU]HUVW|UWGDVLHQLFKWEHQXW]WZHUGHQ NRQQWH ³:HQQ ZLU ZHLWHU ZROOHQ PVVHQ ZLU LQ GLH +DOOH KLQXQWHU´ HUNDQQWH 7HNHQHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³'LH:lFKWHUVLQGULQJVXPGLH0DVFKLQHYHUWHLOWXQGZHUGHQXQVLQMHGHP)DOOVHKHQ ³,FKJHKHYRUDXV´HQWVFKLHG.HQQRQ %HYRU7HNHQHU(LQZlQGHHUKHEHQNRQQWHUDQQWHGHU.ULPLQDOLVWORVXQGVWUPWH GLHQlFKVWOLHJHQGH7UHSSHKLQDE'DVVFKZDQNHQGH0HWDOOJHUVWlFK]WHXQWHUVHLQHP *HZLFKW(LQHUGHU:lFKWHUVWLHHLQHQ:DUQVFKUHLDXV(UKDWWH.HQQRQHQWGHFNWXQG PDFKWHQXQVHLQH)UHXQGHDXIGHQ(LQGULQJOLQJDXIPHUNVDP *OHLFK]HLWLJ KRE HU GLH :DIIH XQG EHJDQQ DXI .HQQRQ ]X VFKLHHQ (U WUDI GHQ PLW K|FKVWHU *HVFKZLQGLJNHLW DXI LKQ ]XUDVHQGHQ )UHPGHQ MHGRFK QLFKW 'LH DQGHUHQ .UDWDPRQHQ OLHHQ GLH :DIIHQ VLQNHQ XQG VWDUUWHQ .HQQRQ ZLH HLQH EHUQDWUOLFKH (UVFKHLQXQJ DQ 1LHPDOV ]XYRU KDWWHQ VLH HLQHQ 0DQQ JHVHKHQ GHU VLFK VR VFKQHOO EHZHJWH %HYRU VLH ]XU %HVLQQXQJ NDPHQ ZDU .HQQRQ PLWWHQ XQWHU LKQHQ XQG VFKOXJ DXI VLH HLQ 1XU HLQHU GHU 0lQQHU ZDU UHDNWLRQVVFKQHOO XQG EHVRQQHQ JHQXJ GDV 5LFKWLJH]XWXQ(UDFKWHWHQLFKWOlQJHUDXIVHLQH.DPHUDGHQVRQGHUQHUJULIIGLH)OXFKW 7HNHQHUVDKLKQDXIGHUDQGHUHQ6HLWHGHU(PSRUHHLQH7UHSSHKHUDXINRPPHQ 'HU6SLHOHUVHW]WHVLFKLQ%HZHJXQJ%HLQDKHJOHLFK]HLWLJPLWGHP.UDWDPRQHQ HUUHLFKWHHUGDVREHUH7UHSSHQHQGH 'HU0DQQVWDUUWHLKQDQXQGULGLH:DIIHKRFK 7HNHQHUVSUDQJ'HU6FKX]LVFKWHEHULKQKLQZHJ'HU8626SH]LDOLVWSUDOOWH PLW GHU 6FKXOWHU JHJHQ GLH %HLQH GHV .UDWDPRQHQ XQG UL LKQ PLW VLFK ]X %RGHQ 6LH UROOWHQGLH7UHSSHKLQDE7HNHQHUVFKOXJPLWGHP.|USHUJHJHQGLH0HWDOOVWXIHQ6HLQ *HJQHUNUDOOWHVLFKDQLKPIHVW 7HNHQHU]RJGLH%HLQHDQXQGVWLHGHP0DQQEHLGH.QLHLQGHQ8QWHUOHLE'HU .UDWDPRQH VW|KQWH XQG OLH ORV 7HNHQHU ULFKWHWH VLFK DXI 'HU :lFKWHU UROOWH VLFK VHLWZlUWVXPDQVHLQH:DIIHKHUDQ]XNRPPHQGLHDXIHLQHU7UHSSHQVWXIHODJ3O|W]OLFK JDEGLHEHUHLWVJHORFNHUWH7UHSSHQDFKXQGEUDFK]XVDPPHQ 7HNHQHUV $UPH ]XFNWHQ QDFK REHQ (U EHNDP HLQHQ 7HLO GHV *HOlQGHUV ]X IDVVHQ XQG ]RJ VLFK GDUDQ HPSRU $OV HU VLFK XPEOLFNWH NRQQWH HU GHQ .UDWDPRQHQ QLFKW PHKU VHKHQ (UVW DOV HU ZLHGHU DXI GHQ %HLQHQ VWDQG XQG EHU GDV *HOlQGHU EOLFNWH HQWGHFNWH HU LKQ 'HU :lFKWHU ODJ XQWHQ LQ GHU +DOOH XQG EHZHJWH VLFK QLFKW 7HLOHGHU7UHSSHKDWWHQVHLQHQ.|USHUGXUFKERKUW 'LH JHVDPWH (PSRUH EHJDQQ ]X VFKZDQNHQ 7HNHQHU UDQQWH DXI GLH QlFKVWH 7UHSSH]XXQGEHJDEVLFKKLQDELQGLH+DOOH(UWUDIDXI.HQQRQGHULKPHLQHHUEHXWHWH :DIIHEHUUHLFKWH ³(LQSDDUKDEHQGLH)OXFKWHUJULIIHQGLHDQGHUHQVLQGEHZXWORV´EHULFKWHWHGDV *HKLUQ 'HU*HGDQNHGDHLQLJHGHU8QLIRUPLHUWHQHQWNRPPHQZDUHQXQGQXQYLHOOHLFKW GHP.5$7$EHUHLQHQXQKHLPOLFKHQ*HJQHUEHULFKWHWHQZDU7HNHQHUDOOHVDQGHUHDOV DQJHQHKP'HU.5$7$ZUGHVLFKGDUDXIHLQVWHOOHQXQG*HJHQPDQDKPHQWUHIIHQ² VRIHUQHUQRFKDP/HEHQZDU 7HNHQHU QDKP MHGRFK DQ GD HV LP ,QQHUQ GHV VRJHQDQQWHQ GXQNOHQ 0RQGHV EHVRQGHUH 6LFKHUKHLWVHLQULFKWXQJHQ JDE $XI MHGHQ )DOO ZUGH GHU .5$7$ GLH )OXFKW HUJUHLIHQZHQQVHLQ/HEHQLQHUQVWHU*HIDKUVHLQVROOWH ³,FKJODXEHGDZLUEDOGHLQHQGHU(LQJlQJHGHV.UDWHUSIURSIHQVHUUHLFKWKDEHQ ZHUGHQ´ NODQJ .HQQRQV 6WLPPH DXI ³$E VRIRUW PVVHQ ZLU PLW JU|HUHQ 6FKZLHULJNHLWHQUHFKQHQ´ 7HNHQHUQLFNWHXQGXQWHUVXFKWHGLHHUEHXWHWH:DIIH6LHEHVDHLQHQHLQIDFKHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
0HFKDQLVPXV XQG ZDU PLW ([SORVLYJHVFKRVVHQ JHODGHQ ,P 0DJD]LQ EHIDQGHQ VLFK QRFKVHFKV3URMHNWLOH ³,P *UXQGH JHQRPPHQ PVVHQ ZLU IURK VHLQ GD HV ]X GHU 1DWXUNDWDVWURSKH JHNRPPHQLVW$QGHUQIDOOVVlKHHVMHW]WVFKOHFKWIUXQVDXV´ %LJ%HQ6SHFLDOHUVFKLHQDXVVHLQHP9HUVWHFN ³,FKZHLQLFKWREHVULFKWLJLVWZDVZLUPDFKHQ´ ³+DEHQ6LHHLQHEHVVHUH,GHH"´ 'HUZLQ]LJH8PZHOWDQJHSDWHQLFNWH ³:LU VROOWHQ YHUVXFKHQ XQV ]XP +DIHQ GXUFK]XVFKODJHQ XQG YRQ GRUW DXV ]X HQWNRPPHQ´ ³'DVKDOWHLFKIUXQP|JOLFK´HUNOlUWH.HQQRQ³$EJHVHKHQGDYRQGDVLFKDOOH )OFKWOLQJH LP +DIHQ YHUVDPPHOQ ZHUGHQ KDOWH LFK GLHVHV *HELHW IU EHVRQGHUV EHGURKW,FKEH]ZHLIOHGDEHUKDXSWQRFKMHPDQGHQWNRPPHQZLUG´ 'HU6LJDQHVHNOHWWHUWHDXI.HQQRQV6FKXOWHUXQGJHVWLNXOLHUWH ³8QGGHU3IURSIHQGLUHNWEHUGHP.UDWHU²KDOWHQ6LHLKQHWZDIUVLFKHUHU"'RUW VLW]HQZLUGLUHNWEHUHLQHU=HLWERPEHGLHMHGHQ$XJHQEOLFNKRFKJHKHQNDQQ´ ³:LU VLQG EHU]HXJW GDYRQ GD GHU .5$7$ )OXFKWP|JOLFKNHLWHQ EHVLW]W ,P ,QQHUQGHUHUVWDUUWHQ/DYDJLEWHVEHVWLPPW*OHLWHUPLWGHQHQZLUHQWNRPPHQN|QQHQ´ %LJ%HQ6SHFLDOZLQNWHDE(UOLHVLFKYRQGHU6FKXOWHUUXWVFKHQXQGNHKUWHLQ VHLQ9HUVWHFN]XUFN ³0LW HXFK LVW QLFKW YHUQQIWLJ ]X UHGHQ´ EHKDXSWHWH HU EHYRU HU VLFK ZLHGHU LQ VHLQ9HUVWHFN]XUFN]RJ³,KUGHQNWQXUQRFKDQGLHVHQYHUGDPPWHQ=HOODNWLYDWRU´ 7HNHQHU VDK EHWURIIHQ DXV DEHU .HQQRQ ODFKWH UDXK XQG GUFNWH GLH %DXFKNODSSHPLWHLQHU+DQG]X ³'HU.OHLQHLVWHLQELFKHQDXIJHUHJW´VDJWHGDV*HKLUQ]X7HNHQHU³'DEHLKDW HUGHQVLFKHUVWHQ3ODW]YRQXQVDOOHQ´ (U NRQ]HQWULHUWH VLFK XQG EHJDQQ ]X RUWHQ $XV GHP QDKHJHOHJHQHQ =HQWUXP HPSILQJHUZHLWHUKLQVWDUNH(QHUJLHLPSXOVHXQG)XQNVLJQDOH'DVNRQQWHQXUEHGHXWHQ GD LQ GHU 8PJHEXQJ GHV .5$7$ VWDUNH $NWLYLWlW KHUUVFKWH 'HU .5$7$ XQG VHLQH HQJVWHQ0LWDUEHLWHUZDUHQZDKUVFKHLQOLFKPLW5HWWXQJVYRUEHUHLWXQJHQEHVFKlIWLJW 7HNHQHU OLH VLFK YRQ GHQ QDFKODVVHQGHQ (UVFKWWHUXQJHQ QLFKW WlXVFKHQ (U ZXWH GD VROFKH %HEHQ LPPHU LQ PHKUHUHQ :HOOHQ NDPHQ 6LH KDWWHQ HUVW GHQ $QIDQJPLWHUOHEW 6FKOLHOLFKEHVWLPPWH.HQQRQGLH5LFKWXQJLQGHUVLHZHLWHUJHKHQPXWHQ'LH 7U ]XP QlFKVWHQ *DQJ ZDU YHUVFKORVVHQ DEHU .HQQRQ EUDFK VLH PLW VHLQHQ EHUPHQVFKOLFKHQ.UlIWHQDXI 'HU %RGHQ ZDU PLW *ODV EHUVlW (V ZDUHQ GLH hEHUUHVWH GHU HKHPDOLJHQ 'HFNHQYHUNOHLGXQJ hEHU GHQ EHLGHQ 6SH]LDOLVWHQ ZDU GDV QDFNWH /DYDJHVWHLQ ]X VHKHQ ,QQHUKDOE GHV *DQJHV GHQ VLH MHW]W EHWUHWHQ KDWWHQ ZDU HV ZHVHQWOLFK NKOHU DOVLQGHQ5lXPHQDXVGHQHQVLHNDPHQ 7HNHQHU YHUPXWHWH GD GLH 7HPSHUDWXU LP =HQWUXP PLW +LOIH YRQ VWDUNHQ .OLPDDQODJHQ LQ HUWUlJOLFKHU +|KH JHKDOWHQ ZXUGH 'LH .UDWDPRQHQ ZDUHQ QLFKW EHVRQGHUVKLW]HHPSILQGOLFKVRGDHVQLFKWDXV]XVFKOLHHQZDUGDGLHVHU$XIZDQG QXUIUGHQ.5$7$EHWULHEHQZXUGH 3O|W]OLFKEOLHE.HQQRQVWHKHQ ³'LH$NWLYDWRULPSXOVH´VWLHHUKHUYRU³'LHVPDOVLQGVLHJDQ]LQGHU1lKH´
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
7HNHQHUVWDUUWHLKQDQ ³$EHU GDV LVW XQP|JOLFK 9RU NXU]HU =HLW KDVW GX ,PSXOVH DXV JU|HUHU (QWIHUQXQJJHRUWHW´ ³9LHOOHLFKWEHILQGHWVLFKGDV*HUlWQLFKWDQHLQHPIHVWHQ3ODW]´VDJWHGDV*HKLUQ JHGHKQW 7HNHQHUPXWHVLFK0KHJHEHQVHLQH(UUHJXQJ]XXQWHUGUFNHQ ³)ROJHQ ZLU GLHVHQ ,PSXOVHQ´ VFKOXJ HU YRU ³,FK ELQ JHVSDQQW ZR ZLU KHUDXVNRPPHQ´ (U EHNDP NHLQH $QWZRUW .HQQRQ VFKLHQ VLFK VHLQH HLJHQHQ *HGDQNHQ ]X PDFKHQ7URW]GHPJLQJHUZHLWHU,QQHUKDOEGHV*DQJHVGXUFKGHQVLHVLFKEHZHJWHQ EUDQQWHQQRFKDOOH/LFKWHU9RQGHU]HUVW|UWHQ*ODVGHFNHDEJHVHKHQJDEHVKLHUDXFK ZHQLJHU=HUVW|UXQJHQ 9RU LKQHQ ZXUGH HLQH +DOOH VLFKWEDU *URIOlFKLJH 7HSSLFKH XQG )HOOH KLQJHQ YRQ GHU 'HFNH KHUDE (LQ SDDU )UDXHQ GLH PLW LKUHU 6lXEHUXQJ EHVFKlIWLJW ZDUHQ OLHHQ VLFK GXUFK GLH $QQlKHUXQJ GHU EHLGHQ 6SH]LDOLVWHQ QLFKW VW|UHQ :HQLJ VSlWHU VWHOOWH.HQQRQIHVWGDGLH.UDWDPRQLQQHQEOLQGZDUHQ .HQQRQ VFKQLSSWH PLW GHQ )LQJHUQ 'LH )UDXHQ UHDJLHUWHQ QLFKW DXI GDV *HUlXVFK ³6LH VLQG EOLQG XQG WDXE´ HUNOlUWH GHU 0DQQ PLW GHP 5RERWN|USHU ³:DKUVFKHLQOLFKLVWGDVGHU*UXQGZDUXPVLHLPPHUQRFKDQGHU$UEHLWVLQG´ 'LH )HOOH KLQJHQ VR GLFKW GD HLQ 'XUFKNRPPHQ NDXP P|JOLFK ZDU .HQQRQ VXFKWHHLQH6WHOOHZRNHLQH$UEHLWHULQQHQZDUHQXQGJLQJZHLWHU$XIGHUDQGHUHQ6HLWH GHU +DOOH ZDU HLQ NOHLQHV %DVVLQ HLQJHODVVHQ GDV PLW HLQHU EHOULHFKHQGHQ /DXJH JHIOOWZDU0LWGLHVHU)OVVLJNHLWZXUGHQGLH7HSSLFKHJHUHLQLJW +LQWHUGHP%DVVLQEHIDQGVLFKGHU'XUFKJDQJ]XHLQHUJOlVHUQHQ.XSSHOXQWHU GHU IUHPGDUWLJH %OXPHQ ZXFKVHQ 'XUFK GLH (UVFKWWHUXQJHQ ZDU GDV .XSSHOGDFK DQ HLQHU 6WHOOH DXIJHVSUXQJHQ (LQLJH 3IODQ]HQ KDWWHQ GLH SO|W]OLFKH 7HPSHUDWXUVFKZDQNXQJQLFKWYHUWUDJHQXQGZDUHQLQVLFK]XVDPPHQJHVXQNHQ ³,FK JODXEH GD ZLU XQV LP lXHUHQ =HQWUXP EHILQGHQ´ VDJWH .HQQRQ ³+LHU VFKHLQHQGLH9HUJQJXQJVVWlWWHQGHV.5$7$]XVHLQ´ ³8QGGLH$NWLYDWRULPSXOVH"´IUDJWH7HNHQHUGUlQJHQG³:DVLVWPLWLKQHQ"´ .HQQRQ DQWZRUWHWH QLFKW VRIRUW (V ZDU DOV ]|JHUWH HU 7HNHQHU VDK LKQ PLWUDXLVFKDQ 9HUIROJWHGHU0DQQPLWGHP5RERWN|USHUHWZDHLJHQH3OlQH" 7HNHQHU YHUZDUI GLHVHQ *HGDQNHQ $XI NHLQHQ )DOO GXUIWH HU DQIDQJHQ GDV 9HUWUDXHQ]XVHLQHP%HJOHLWHU]XYHUOLHUHQ'D]XEHVWDQGNHLQHUOHL*UXQG ,Q VHLQHP 8QWHUEHZXWVHLQ EOLHEHQ MHGRFK ERKUHQGH =ZHLIHO %HXQUXKLJW HUNDQQWH GHU 6SLHOHU GD GLH XQPLWWHOEDUH 1lKH HLQHV =HOODNWLYDWRUV GHU QRFK NHLQHQ %HVLW]HUJHIXQGHQKDWWHHLQHXQKHLPOLFKH:LUNXQJDXILKQDXVEWH 6LH EHWUDWHQ GLH .XSSHO PLW GHQ IUHPGDUWLJHQ 3IODQ]HQ GDULQ 6OLFKHU *HUXFK VFKOXJ LKQHQ HQWJHJHQ 7HNHQHU NRQ]HQWULHUWH VHLQH $XIPHUNVDPNHLW ZLHGHU DXI GLH 8PJHEXQJ(VOLHVLFKQLFKWDXVVFKOLHHQGDHLQLJHGLHVHUIDUEHQSUlFKWLJHQ%OWHQ JHIlKUOLFKZDUHQ .HQQRQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
,FK ELQ PLU GDUEHU LP NODUHQ GD 5RQDOG VLFK LQ GHQ OHW]WHQ 6WXQGHQ XQVHUHV +LHUVHLQV YHUlQGHUW KDW (V LVW NHLQH 9HUlQGHUXQJ GLH GLH 2EHUIOlFKH VHLQHU 3HUV|QOLFKNHLW EHUKUW VRQGHUQ HLQ ELVKHU QXU XQWHUVFKZHOOLJ ZLUNVDP ZHUGHQGHU 3UR]H =XQlFKVWGDFKWHLFKGLH*HIDQJHQVFKDIWXQGGLHVWlQGLJHQ9HUK|UHZHJHQGHV 6HJHOV KlWWHQ PHLQHQ )UHXQG QHUY|V JHPDFKW GRFK VFKOLHOLFK EHILQGHW HU VLFK QLFKW ]XP HUVWHQPDO LQ HLQHU VROFKHQ 6LWXDWLRQ $XHUGHP KDW VLFK DXFK VHLW XQVHUHP (QWNRPPHQ QLFKWV JHlQGHUW ,VW HV GLH 9RUDKQXQJ HLQHU VFKUHFNOLFKHQ 1DWXUNDWDVWURSKHGLHLKQVRXQVLFKHUPDFKW" 0DQ VDJW YLHOHQ 0HQVFKHQ QDFK GD VLH VROFKH (UHLJQLVVH YRUDXVDKQHQ N|QQHQ %HL7HNHQHUPXHVHWZDVDQGHUHVVHLQ 0DQFKPDOEHUOHJHLFKREHVHWZDVPLWGHP=HOODNWLYDWRU]XWXQKDEHQN|QQWH $EHUZLHVR" $EJHVHKHQ GDYRQ GD GLH &KDQFH lXHUVW JHULQJ LVW GLHVHV *HUlW QRFK ]X ILQGHQPX5RQDOGVLFKGRFKGDUEHULPNODUHQVHLQGDHVGHQ9HUDQWZRUWOLFKHQGHV 6RODUHQ ,PSHULXPV JHK|UW 0lQQHU ZLH 3HUU\ 5KRGDQ XQG $WODQ ZHUGHQ GDUEHU HQWVFKHLGHQ ZHU GHQ =HOODNWLYDWRU WUDJHQ ZLUG²ZHQQ ZLU LKQ EHUKDXSW EHNRPPHQ VROOWHQ 0DQVDJWGDHVHLQHKHLPOLFKH:DUWHOLVWHIU=HOODNWLYDWRUWUlJHUNDQGLGDWHQJLEW ,FK P|FKWH JHUQ ZLVVHQ ZHU JDQ] REHQ VWHKW (LQHV ZHL LFK MHGRFK PLW 6LFKHUKHLW 7HNHQHULVWHVJDQ]EHVWLPPWQLFKW ,FK YHUVXFKH PHLQ HLJHQHV %HZXWVHLQ ]X GXUFKGULQJHQ ,VW HV P|JOLFK GD DXFKLFKPLFKLQVJHKHLPIUGLHVHV*HUlWLQWHUHVVLHUH" (LJHQWOLFKQLFKW1HLQVRJDUJDQ]EHVWLPPWQLFKW ,FK NDQQ QRFK PLQGHVWHQV WDXVHQG -DKUH OHEHQ RKQH GD PHLQ *HKLUQ HLQHP $OWHUXQJVSUR]H XQWHUZRUIHQ VHLQ ZLUG )U PLFK LVW HLQ =HOODNWLYDWRU ]XU =HLW Y|OOLJ XQLQWHUHVVDQW'DVJOHLFKHJLOWDXFKIU%LJ%HQ6SHFLDOGHUDXIJUXQGVHLQHUJHULQJHQ .|USHUJU|HHLQVROFKHV*HUlWEHUKDXSWQLFKWWUDJHQN|QQWH (LJHQWOLFK XQJHUHFKW YRQ (6 GD HV EHL GHU $XVVWUHXXQJ GHU =HOODNWLYDWRUHQ QLFKW DXFK DQ GLH NOHLQHQ 8PZHOWDQJHSDWHQ JHGDFKW KDW 0DQ N|QQWH IDVW GDUDXV VFKOLHHQGDGDV*HLVWHVZHVHQYRQ:DQGHUHUGRFKQLFKWVRXQIHKOEDULVWZLHLPPHU EHKDXSWHWZLUG ,FKHUWDSSHPLFKGDEHLGDLFK7HNPLWJU|HUHU$XIPHUNVDPNHLWEHREDFKWHDOV MHPDOV]XYRU,FKZHUGHGHQ(LQGUXFNQLFKWORVGDHUPLUHWZDVYHUKHLPOLFKW $QGHUHUVHLWV LVW HV JHUDGH]X OlFKHUOLFK GD LFK PLU 7HNHQHUV ZHJHQ 6RUJHQ PDFKH(UKDWLQXQ]lKOLJHQ6LWXDWLRQHQEHZLHVHQGDHUVHHOLVFKDXVJHJOLFKHQLVW,P *HJHQWHLO%LVKHUZDULPPHUHUHVGHUDXIPHLQHVHHOLVFKH9HUIDVVXQJ]XDFKWHQKDWWH (UZDUPHLQ3V\FKRORJH ,FK ELQ EHUKDXSW QLFKW GDUDXI HLQJHVWHOOW LUJHQGZHOFKH 9HUlQGHUXQJHQ DQ LKP ]XGHXWHQ :lKUHQGLFKEHUGDVXQHUZDUWHWH3UREOHPQDFKGHQNHIDVVHLFKGHQ(QWVFKOX 7HNHQHUDEVRIRUWQLFKWPHKU]XVDJHQYRQZRGLH$NWLYDWRULPSXOVHNRPPHQ ,FKZHUGHLKPYHUVFKZHLJHQZHQQLFKVROFKH,PSXOVHRUWH (UVFKURFNHQZHUGHLFKPLUGDUEHUNODUGDGLHVHLQ0LWUDXHQVEHZHLVLVWDEHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
LFKPDFKHPHLQHQ(QWVFKOXQLFKWUFNJlQJLJ,FKPXHUVWVLFKHUVHLQZDV7HNHQHUV 9HUlQGHUXQJ KHUYRUJHUXIHQ KDW :HQQ HU VLFK QRUPDOLVLHUW RGHU HLQH (UNOlUXQJ IU VHLQHQ =XVWDQG DEJLEW ZHUGH LFK LKQ DXFK ZHJHQ GHU $NWLYDWRULPSXOVH QLFKW LP XQNODUHQODVVHQ (V LVW DOV ZlUH HLQ 6FKDWWHQ ]ZLVFKHQ XQV JHIDOOHQ (LQH NDXP VSUEDUH 6SDQQXQJ]ZLVFKHQXQVEHLGHQVW|UWGLHJHZRKQWH+DUPRQLH,FKKRIIHQXUGDXQVHUH )OXFKWGDGXUFKQLFKWYHUHLWHOWZLUG:LUPVVHQXQVEOLQGYHUVWHKHQZHQQZLUYRQKLHU HQWNRPPHQZROOHQ -HW]W GD LFK HLQH (QWVFKHLGXQJ JHWURIIHQ KDEH IKOH LFK PLFK HLQ ZHQLJ HUOHLFKWHUW 7HNHQHU ZLUG PHUNHQ ZDV ORV LVW VFKOLHOLFK LVW HU NHLQ 1DUU ,FK ELQ JHVSDQQWZLHHUGLHVH+HUDXVIRUGHUXQJDXIQHKPHQZLUG :LHLFKLKQNHQQHZLUGHUVWLOOLQVLFKKLQHLQOlFKHOQXQGHWZDVWXQZRPLWVHOEVW LFKQLFKWUHFKQHQNDQQ ³8P GLFK ]X YHUEOIIHQ PX PDQ XQRUWKRGR[ KDQGHOQ´ VDJWH HU HLQPDO ³(LQ *HKLUQZLHGHLQHVNDQQGLHQlFKVWHQ6FKULWWHHLQHV0HQVFKHQYRUDXVEHUHFKQHQ(VLVW QXUJXWGDLFKPLFKJXWJHQXJNHQQHXP'LQJH]XWXQGLHGXIUXQZDKUVFKHLQOLFK KDOWHQZUGHVW´ 'LH:RUWHKDEHQVLFKLQPHLQ*HGlFKWQLVHLQJHEUDQQW ,FKZLOODXIGLFKDXISDVVHQ5RQDOG7HNHQHU 'XZLUVWNHLQH&KDQFHHUKDOWHQHLQH'XPPKHLW]XEHJHKHQ
'HU VOLFKH *HUXFK GHU %OWHQ OHJWH VLFK VFKZHU DXI 7HNHQHUV /XQJHQ (U ]ZDQJVLFKGD]XQXUVFKZDFK]XDWPHQ $OV VLH GDV .XSSHOLQQHUH IDVW ]XU +lOIWH GXUFKTXHUW KDWWHQ HQWGHFNWH .HQQRQ ]ZHL .UDWDPRQHQ GLH $WHPPDVNHQ WUXJHQ XQG GDPLW EHVFKlIWLJW ZDUHQ PLW GHU 5HSDUDWXU GHU .XSSHO ]X EHJLQQHQ 6LH KDWWHQ HLQHQ 0RQWDJHZDJHQ KHUHLQJHIDKUHQ XQGUROOWHQJHUDGH.DEHODXV .HQQRQJDEVHLQHP%HJOHLWHUHLQ=HLFKHQ]XUFN]XEOHLEHQ %OLW]VFKQHOO UDQQWH GHU 0DQQ PLW GHP 5RERWN|USHU ]ZLVFKHQ GHQ 3IODQ]HQ KLQGXUFK (LQHU GHU .UDWDPRQHQ K|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³,KU ZHUGHW XQV MHW]W HLQ SDDU )UDJHQ EHDQWZRUWHQ´ IXKU .HQQRQ GLH EHLGHQ DQ ³=XQlFKVWLQWHUHVVLHUWXQVGHUGLUHNWH:HJLQV=HQWUXPGLHVHU6WDWLRQ´ (LQHUGHU.UDWDPRQHQVSLHDXIGHQ%RGHQ ³:LUJHEHQ6NODYHQNHLQH$XVNQIWH´HUNOlUWHHU .HQQRQ GUHKWH ODQJVDP GLH +DQG KHUXP XQG VFKQUWH GHP 0DQQ PLW GHVVHQ HLJHQHP.UDJHQGLH/XIWDE ³'DV LVW LQWHUHVVDQW´ PHLQWH .HQQRQ ³:HQQ LKU QLFKW UHGHQ ZROOW PW LKU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
VWHUEHQ´ 'HP .UDWDPRQHQ WUDWHQ GLH $XJHQ DXV GHP .RSI ³,FK ZHUGH UHGHQ´ NUlFK]WH HU .HQQRQORFNHUWHGHQ*ULII ³,KU ZHUGHW QLHPDOV GDV ,QQHUH GHU 6WDWLRQ HUUHLFKHQ´ EUDFKWH GHU .UDWDPRQH KHUYRU³hEHUDOOVWHKHQ:DFKHQ$XHUGHPJLEWHV6SHUUHQXQG)DOOHQ´ ³:LHVFK|Q´PHLQWH.HQQRQJULPPLJ³'HVKDOE LQWHUHVVLHUHQ ZLU XQV MD IU GHQ EHVWHQ:HJ´ 'HU0DQQVDJWHQDFKNXU]HP=|JHUQ³9RQKLHUDXVNRPPWLKU]XHLQHUEUHLWHQ %UFNH GLH ]X GHQ 0DVFKLQHQUlXPHQ XQG 5RERWVWDWLRQHQ IKUW 9RQ GRUW DXV JLEW HV ]ZHL 0|JOLFKNHLWHQ LQV :RKQJHELHW ]X JHODQJHQ ,KU N|QQW GLH ]DKOUHLFKHQ *lQJH EHQXW]HQRGHUHXFKHLQHQ7UlJHUQHKPHQ´(UODFKWHVS|WWLVFK³$EHULKUVHLG6NODYHQ GLHZHUGHQQLFKWJHWUDJHQ´ 'HU ]ZHLWH .UDWDPRQH VDJWH ³'X GDUIVW VLH QLFKW UHL]HQ 3RU]RQGHU :LU EUDXFKHQXQVHUH0DVNHQZLHGHU´ ³'LH/XIWKLHUEHNRPPWHXFKQLFKWZLH"´HUNXQGLJWHVLFK7HNHQHU .HQQRQ QLFNWH XQG SDUDO\VLHUWH GLH EHLGHQ 0lQQHU (U YHUVWHFNWH VLH LQ HLQHP GLFKWHQ*HVWUSS ³(V LVW EHVVHU ZHQQ GX GLH $WHPPDVNH EHKlOWVW´ HPSIDKO HU 7HNHQHU ³:DKUVFKHLQOLFKNDQQVWGXVLHQRFKEUDXFKHQ´ 8QDQJHIRFKWHQ HUUHLFKWHQ VLH GDV (QGH GHU +DOOH .HQQRQ ZDU QLFKW VLFKHU RE GHU .UDWDPRQH LKQHQ GLH :DKUKHLW JHVDJW KDWWH ]XPLQGHVW KDWWH HU LKQHQ )DOOHQ XQG JHIlKUOLFKH6WHOOHQYHUVFKZLHJHQ'RFKGDYRUIUFKWHWHVLFKGDV*HKLUQQLFKW.HQQRQ OLHVHLQN|USHUHLJHQHV2UWXQJVV\VWHPVSLHOHQ ³:DVLVW]XK|UHQ"´IUDJWH7HNHQHU ³)XQNLPSXOVH XQG (QHUJLHDXVVWUDKOXQJHQ´ HUZLGHUWH .HQQRQ ³1LFKWV YRQ %HGHXWXQJ´ ³,VWGDVDOOHV"´ ³-D´ 7HNHQHU ]XFNWH PLW GHQ 6FKXOWHUQ 'DV 7KHPD VFKLHQ IU LKQ GDPLW HUOHGLJW ]X VHLQ 'HU$XVJDQJGHU.XSSHOZDUXQEHZDFKW'LHEHLGHQXQJOHLFKHQ0lQQHUEOLFNWHQ LQHLQZDKUHV*HZLUUYRQ*lQJHQGDVVLFKZLHHLQ1HW]ZHUNYRULKQHQDXVEUHLWHWH ³9RQHLQHU%UFNHLVWQLFKWV]XVHKHQ´VWHOOWH7HNHQHUIHVW³(VVLHKWVRDXVDOV KlWWHXQVGLHVHU3UR]RQGHUHLQ0lUFKHQHU]lKOW´ .HQQRQ WUDW VFKZHLJHQG LQ GHQ *DQJ GHU UXQG XP GLH .XSSHO IKUWH $XV HLQLJHQ GHU DQVFKOLHHQGHQ *lQJH NODQJHQ 6WLPPHQ VR GD .HQQRQ GLH *DQJDUW EHVFKOHXQLJWH 6LH NDPHQ DQ HLQH 6WHOOH ZR VLFK HLQH $UW 7RUERJHQ EHU PHKUHUHQ *lQJHQ Z|OEWH *HQDX LQ GHU 0LWWH ODJ HLQ VHKU EUHLWHU .RUULGRU ,P +LQWHUJUXQG VWLHJ GHU%RGHQDOOPlKOLFKDQ ³+LHULVWHV´VDJWH.HQQRQ 6LHWUDWHQXQWHUGHP7RUERJHQGXUFK$XFK7HNHQHUJODXEWHMHW]WZHLWHUHQWIHUQW GLH W\SLVFKH :|OEXQJ HLQHV %UNNHQERJHQV ]X VHKHQ $OV GLH EHLGHQ 0lQQHU ZHLWHUJHKHQZROOWHQGUDQJDXVHLQHPGHU6HLWHQJlQJHHLQ6W|KQHQ .HQQRQOHJWH7HNHQHUHLQH+DQGDXIGHQ$UPXQGODXVFKWH ³(VNRPPWYRQGRUW´(U]HLJWHLQGLHHQWVSUHFKHQGH5LFKWXQJ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³.PPHUQZLUXQVEHVVHUQLFKWGDUXP´VFKOXJ7HNHQHUYRU³(VNDQQVHLQGD ZLULQHLQH)DOOHJHORFNWZHUGHQVROOHQ´ 'RFK .HQQRQ ZDU HQWVFKORVVHQ GHU 6DFKH DXI GHQ *UXQG ]X JHKHQ (U EHGHXWHWH 7HNHQHU DXI GHP :HJ ]XU %UFNH ]XUFN]XEOHLEHQ GRFK GHU 6SLHOHU VFKWWHOWHHQWVFKLHGHQGHQ.RSIXQGIROJWHVHLQHP3DUWQHU 'HU *DQJ LQ GHQ VLH JHODQJWHQ ZDU QXU NXU] XQG PQGHWH LQ HLQHQ WLHIHU JHOHJHQHQ 5DXP 'LH /XIW KLHU ZDU VWLFNLJ HLQH VFKZDFKH /DPSH HUKHOOWH HLQH JHVSHQVWLVFKH6]HQH $P %RGHQ ODJHQ 0DWWHQ DXV 3IODQ]HQIDVHUQ DXI GHQHQ VLFK 9HUOHW]WH XQUXKLJ KLQXQGKHUZlO]WHQ6LHZXUGHQDXVHLQHUDQGHU'HFNHDQJHEUDFKWHQ'VHPLWHLQHU DQWLVHSWLVFKHQ/|VXQJEHVSUKW .HQQRQEOLHEVWHKHQ ³(UNHQQVWGXVLH"´IUDJWHHUVHLQHQ%HJOHLWHU 7HNHQHUYHUQHLQWH ³'LHVH ]Z|OI 0lQQHU JHK|UHQ ]X GHQ (GOHQ GLH DQJHEOLFK LQ GHQ .UDWHU GHV GXQNOHQ0RQGHVJHEUDFKWZHUGHQVROOWHQXPHLQHJURH(KUH]XHUIDKUHQ6LHKVLHGLU DQ.HLQHUYRQLKQHQNDQQVLFKQRFKULFKWLJEHZHJHQ´ ³:DVPDJPLWLKQHQSDVVLHUWVHLQ"´IOVWHUWH7HNHQHU .HQQRQNOHWWHUWHVFKZHLJHQGLQGHQ5DXPKLQDEXQGEHXJWHVLFK]XHLQHPGHU 8QJOFNOLFKHQKLQDE:LOOHQORVOLHGHU(GHOPDQQVLFKXQWHUVXFKHQ.HQQRQHQWGHFNWH 9HUOHW]XQJHQDQGHQ9HQHQXQGDP5FNHQPDUN (UVWLHHLQH9HUZQVFKXQJDXV ³'LHVH ]Z|OI 0lQQHU VLQG 2SIHU YRQ 9HUK|UHQ EHOVWHU $UW´ HUNOlUWH HU DOV HU VLFK ZLHGHU DXIULFKWHWH ³:DKUVFKHLQOLFK KlWWH PDQ XQV IUKHU RGHU VSlWHU DXI GLH JOHLFKH :HLVH EHIUDJW :LU N|QQHQ IURK VHLQ GD HV QLFKW GD]X JHNRPPHQ LVW 0DQ KlWWHPHLQHZDKUH,GHQWLWlWHQWGHFNWXQGGLFKZDKUVFKHLQOLFKJHW|WHW´ ³,FKIUDJHPLFKZHUVRHWZDV8QPHQVFKOLFKHVWXQNDQQ´ ³9HUDQWZRUWOLFK GDIU LVW DXI MHGHQ )DOO GHU .5$7$´ .HQQRQ YHUOLH GHQ 5DXP XQGNHKUWH]X7HNHQHULQGHQVFKPDOHQ*DQJ]XUFN³'HU:LVVHQVFKDIWOHUZLOOLUJHQG HWZDV KHUDXVILQGHQ VRQVW ZUGH HU GLHVH 0lQQHU QLFKW VR EUXWDO YHUK|UHQ ODVVHQ :DKUVFKHLQOLFK DKQW HU HWZDV YRQ XQVHUHU $QZHVHQKHLW (U ZLOO VLFK GHQ $NWLYDWRU DXI NHLQHQ)DOOQRFKLPOHW]WHQ$XJHQEOLFNZHJVFKQDSSHQODVVHQ´ 3O|W]OLFKGU|KQWHHLQXQKHLPOLFKHV*HOlFKWHUGXUFKGHQ*DQJ .HQQRQXQG7HNHQHUHUVWDUUWHQLQLKUHQ%HZHJXQJHQ ³6LH KDEHQ UHFKW PHLQH +HUUHQ´ VFKULH HLQH 6WLPPH DXV HLQHP /DXWVSUHFKHU ³6LHZHUGHQPLUGLH8QVWHUEOLFKNHLWQLFKWQHKPHQN|QQHQ´ $OVHUVWHUHUKROWHVLFK.HQQRQYRQGHP6FKRFN ³'DVZDUGLH6WLPPH'U,VHND.DPLWDUDVJHQDQQWGHU.5$7$´VWHOOWHHUIHVW ³(UKDWXQVHQWGHFNW"´VWLH7HNHQHUKHUYRU ³,FK ZHL VFKRQ VHLW HLQLJHU =HLW GD VLFK 8626SH]LDOLVWHQ LQ PHLQHP +HUUVFKDIWVEHUHLFK DXIKDOWHQ´ IXKU GLH /DXWVSUHFKHUVWLPPH IRUW ³$EHU LFK KlWWH QLFKW JHGDFKWGDVLHVFKRQVRZHLWYRUJHGUXQJHQVHLQN|QQWHQ´ 7HNHQHUVDK.HQQRQEHWURIIHQDQ ³:DVMHW]W"(UZLUGXQVDQJUHLIHQXQGW|WHQODVVHQ´ :LHGHUKDOOWHGDV*HOlFKWHUGXUFKGHQ*DQJ ³1RFK QLFKW PHLQH +HUUHQ´ ULHI GHU .5$7$ ³,FK UHFKQH GDPLW GD 6LH PLU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
ZHUWYROOH 'LHQVWH OHLVWHQ ZHUGHQ 6LH VLQG DXI GHU 6XFKH QDFK GHP =HOODNWLYDWRU GHQ LFKVHLW-DKUHQYHUJHEOLFKVXFKH9LHOOHLFKWKDEHQ6LHPHKU*OFNDOVLFK´'LH6WLPPH ZXUGHMHW]WVFKULOO³6REDOG6LHGHQ$NWLYDWRUJHIXQGHQKDEHQZHUGHLFK6LHW|WHQXQG GDV*HUlWDQPLFKQHKPHQ´ .HQQRQ KDWWHQ GHQ /DXWVSUHFKHU LQ]ZLVFKHQ HQWGHFNW (U JLQJ DXI GLH EHWUHIIHQGH 6WHOOH ]X XQG VFKOXJ GLH :DQG HLQ 'DQQ UL HU GDV *HUlW DXV GHU 9HUDQNHUXQJXQG]HUWUDWHV'LH6WLPPHGHV.5$7$YHUVWXPPWH ³$OOH9RUVLFKWZDUXPVRQVW´VDJWH7HNHQHUQLHGHUJHVFKODJHQ³(UZHLGDZLU GD VLQG 6RJDU XQVHU JHQDXHU $XIHQWKDOWVRUW LVW LKP EHNDQQW :DKUVFKHLQOLFK ZHL HU VRJDUZHUZLUVLQG´ .HQQRQ VWDUUWH DXI GLH 7UPPHU GHV /DXWVSUHFKHUV KLQDE (U ZDU ZHQLJHU EHUUDVFKW DOV 7HNHQHU 8QEHZXW KDWWH HU VFKRQ HLQLJH =HLW PLW LKUHU (QWGHFNXQJ JHUHFKQHW ³(UNDQQXQVQLFKWEHUDOOEHREDFKWHQ´VDJWHHU]XGHP6SLHOHU³$XHUGHPKDW HU ZDKUVFKHLQOLFK JHQJHQG PLW VHLQHQ HLJHQHQ 3UREOHPHQ ]X WXQ (V GUIWH MHW]W IHVWVWHKHQ GD HU HLQ 3V\FKRSDWK LVW (U ZLOO GHQ YROONRPPHQHQ 7ULXPSK EHU XQV VRQVWKlWWHHUXQVOlQJVWDQJUHLIHQXQGW|WHQODVVHQ´ 7HNHQHUEOLFNWHVLFKUDWORVXP ³$EHUZDVN|QQHQZLUMHW]WQRFKWXQ"´ ³:LUKDEHQNHLQHQ*UXQGXQVHUH3OlQH]XlQGHUQ´HUNOlUWHGHU0DQQPLWGHP 5RERWN|USHU³:LUYHUVXFKHQQDFKZLHYRUGDV,QQHUHGHU6WDWLRQ]XHUUHLFKHQXQGGHQ .5$7$DXV]XVFKDOWHQ'DQDFKZHUGHQZLU]XIOLHKHQYHUVXFKHQ´ ³'XYHUJLWGHQ=HOODNWLYDWRU´ZDQGWH7HNHQHUHLQ ³1HLQ´JDE.HQQRQ]XUFN³,FKYHUJHVVHLKQQLFKW*DQ]EHVWLPPWQLFKW´ 7HNHQHU ,FKYHUVXFKHY|OOLJUXKLJEHUDOOHVQDFK]XGHQNHQ9RUDOOHPPXLFKPLFKYRQ GHQ,OOXVLRQHQLP=XVDPPHQKDQJPLWGHP=HOODNWLYDWRUO|VHQ-HW]WGDGHU.5$7$XQV HQWGHFNWKDWEHVWHKHQNDXPQRFK$XVVLFKWHQIUPLFKDQGDV*HUlWKHUDQ]XNRPPHQ ,FKPXIURKVHLQZHQQLFKPLWGHP/HEHQGDYRQNRPPH .DPLWDUD PDJ HLQ :DKQVLQQLJHU VHLQ²DXI VHLQH EHVRQGHUH $UW LVW HU WURW]GHP WHXIOLVFKVFKODX*HQDXLPULFKWLJHQ$XJHQEOLFNKDWHUXQVRIIHQEDUWGDHUEHUXQVHU (LQGULQJHQ LQ VHLQH 6WDWLRQ XQWHUULFKWHW LVW :DKUVFKHLQOLFK JHQLHW HU HV XQV ]X EHREDFKWHQ ,FK ELQ EHU]HXJW GDYRQ GD HU QLFKW ORJ DOV HU VDJWH HU ZUGH XQV ]XQlFKVW QDFK GHP =HOODNWLYDWRU VXFKHQ ODVVHQ (U ZHL JHQDX GD ZLU QLHPDOV DXIJHEHQ $XHUGHP VLHKW HU LQ XQV HLQH &KDQFH GDV *HUlW GRFK QRFK ]X ILQGHQ 9LHOOHLFKWZHLHUVRJDUHWZDVEHUGLHN|USHUHLJHQH$XVUVWXQJ.HQQRQV ,P $XJHQEOLFN MHGHQIDOOV VLQG ZLU GLH XQIUHLZLOOLJHQ :HUN]HXJH GHV :LVVHQVFKDIWOHUV ,FK ZXQGHUH PLFK ZLH JHODVVHQ .HQQRQ DOOHV KLQQLPPW 2IIHQEDU KDW HU OlQJVW PLWXQVHUHU(QWGHFNXQJJHUHFKQHW$XFKGLH9HUKDOWHQVZHLVHGHV9HUEUHFKHUVVFKHLQW LKQQLFKWVRQGHUOLFK]XLUULWLHUHQ ,FKVSUHGHXWOLFKGD.HQQRQMHGHV*HVSUlFKEHUGHQ=HOODNWLYDWRUYHUPHLGHW =ZHLIHOORVYHUKHLPOLFKWHUPLUVRJDUZDQQHUGDV*HUlWRUWHQNDQQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
,FKKDEHDOVRPLWGRSSHOWHQ6FKZLHULJNHLWHQ]XNlPSIHQ 'DEHLNDQQLFKRKQH.HQQRQV+LOIHGHQ$NWLYDWRUQLHPDOVILQGHQ 0HLQH +RIIQXQJ GRFK QRFK LQ GHQ %HVLW] GHV =HOODNWLYDWRUV ]X NRPPHQ LVW GXUFKGLHOHW]WHQ(UHLJQLVVHIDVW]XQLFKWHJHZRUGHQ ,FKZlJHPHLQH&KDQFHQDE 'HU.5$7$EHREDFKWHWMHGHQXQVHUHU6FKULWWHXQGZLUGJHQDXZLVVHQZDQQZLU GHQ $NWLYDWRU JHIXQGHQ KDEHQ .HQQRQ EHREDFKWHW PLFK (U NDQQ PLFK ULFKWLJ HLQVFKlW]HQXQGZHLPHLQ9HUKDOWHQ]XGHXWHQ,QGHUMHW]LJHQ6LWXDWLRQLVWHVVFKZHU LKPHWZDVYRU]XPDFKHQ 7URW]DOOHPVLQGZLUQLFKWJDQ]RKQH&KDQFHQ'HU.5$7$VFKHLQWQLFKWVYRQ%LJ %HQ 6SHFLDO ]X ZLVVHQ 'HU ZLQ]LJH 6LJDQHVH EOLHE VHLQHQ %OLFNHQ ELVKHU YHUERUJHQ 'DV NDQQ XQVHUH 5HWWXQJ EHGHXWHQ $EHU %LJ %HQ 6SHFLDO LVW WURW] VHLQHV NDOWVFKQlX]LJHQ*HWXHVHLQHUGHUOR\DOVWHQ0LWDUEHLWHUGHU862(UZLUGPLFKQLHPDOV GDEHLXQWHUVWW]HQGHQ$NWLYDWRULQPHLQHQ%HVLW]]XEULQJHQ,QGLHVHU%H]LHKXQJZLUG HUVLFKDXIGLH6HLWH6LQFODLU0DURXW.HQQRQVVWHOOHQ =XP7HXIHOPLWGHQEHLGHQ 6HKHQ VLH QLFKW HLQ GD HLQ 0DQQ VHLQH SHUV|QOLFKHQ ,QWHUHVVHQ DXFK HLQPDO EHUGLH,QWHUHVVHQGHU2UJDQLVDWLRQVWHOOHQPXIUGLHHUDUEHLWHW" $EHUGLH2UJDQLVDWLRQPHOGHWVLFKPHLQ*HZLVVHQDUEHLWHWIUGLH0HQVFKKHLW :HUGLH2UJDQLVDWLRQYHUUlWYHUUlWDXFKGLH0HQVFKKHLW ,VWHVGHQQ9HUUDWZHQQLFKYHUVXFKHGHQ$NWLYDWRUIUPLFK]XEHNRPPHQ"1XU HLQHUNDQQGLHVHQ$NWLYDWRUWUDJHQ 0HLQ *HZLVVHQ LVW XQEHVWHFKOLFK 'HU $XVHUZlKOWH HULQQHUW HV PLFK VROOWH HLQ 0HQVFKVHLQGHUIUVHLQJHDPWHV9RONZLFKWLJMDVRJDUXQHUVHW]OLFKLVW 6RHLQ0HQVFKELQLFKQLFKW $EHUEHUDOOGLHVH3UREOHPHNDQQLFKQRFKQDFKGHQNHQZHQQLFKWDWVlFKOLFKLQ GHQ%HVLW]GHV$NWLYDWRUVNRPPHQVROOWH
2KQHDXIJHKDOWHQ]XZHUGHQHUUHLFKWHQVLHGLH%UFNH.XU]]XYRUKDWWH.HQQRQ VLFK LQ HLQH 1LVFKH ]XUFNJH]RJHQ 1DFKGHP HU VLFK GDYRQ EHU]HXJW KDWWH GD HV NHLQH XQVLFKWEDUHQ .DPHUDV RGHU 2UWXQJVJHUlWH JDE KDWWH HU %LJ %HQ 6SHFLDO IUHLJHODVVHQ 'HU 6LJDQHVH KDWWH GHQ $XIWUDJ GHQ 5DXP ]X ILQGHQ LQ GHP VLFK GHU .5$7$ DXIKLHOW (U VROOWH YHUVXFKHQ GHQ 9HUEUHFKHU DXI LUJHQGHLQH :HLVH DXV]XVFKDOWHQXQGJOHLFK]HLWLJQDFKHLQHU)OXFKWP|JOLFKNHLW]XVXFKHQ 'LH%UFNHVSDQQWHVLFKTXHUGXUFKHLQHULHVLJH+DOOH'HU%RGHQWLHIXQWHUXQV ZDUPLW0HWDOOSODWWHQDXVJHOHJW'LH%HGHXWXQJGHU%UFNHZDU7HNHQHUQLFKWNODUDXFK GLHYHUODVVHQH+DOOHZDUHLQ5lWVHO ³,FK QHKPH DQ GD GLH %UFNH HLQHQ )OXFKWZHJ GDUVWHOOW ZHQQ GHU %RGHQ DXIEUHFKHQ XQG IOVVLJH /DYD LQ GLH 6WDWLRQ VWU|PHQ VROOWH´ VDJWH .HQQRQ GHU VLFK RIIHQEDU DXFK *HGDQNHQ EHU GLH %DXZHLVH GHU 6WDWLRQ PDFKWH ³8QWHQ LQ GHU +DOOH NDQQVLFKGLH/DYDVDPPHOQRKQHGDGHQ%HZRKQHUQGHV=HQWUXPVGHU:HJLQGLH )UHLKHLWDEJHVFKQLWWHQZLUG´ (LQH EHVVHUH (UNOlUXQJ JDE HV LP $XJHQEOLFN QLFKW 7HNHQHU EHREDFKWHWH GLH 8PJHEXQJ(UZDUVLFKHUGDHVEHUDOO.DPHUDVXQG2UWXQJVDQODJHQJDE'RFKGHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
.5$7$PHOGHWHVLFKQLFKWPHKU :LH GHU NUDWDPRQLVFKH $UEHLWHU JHVDJW KDWWH JHODQJWHQ VLH LQ JURH 0DVFKLQHQUlXPH ,Q]ZLVFKHQ KDWWHQ GLH (UVFKWWHUXQJHQ Y|OOLJ DXIJHK|UW 'HU 3ODQHW VFKLHQ VLFK ]X EHUXKLJHQ 'LH EHLGHQ 8626SH]LDOLVWHQ ZDUHQ VLFK MHGRFK GDUEHU LP NODUHQGDHVMHGH6HNXQGHZLHGHUORVJHKHQNRQQWH ³,FKYHUVWHKHQLFKWGDKLHUNDXPHWZDVYRQ=HUVW|UXQJHQ]XVHKHQLVW¶VDJWH 7HNHQHU ]X .HQQRQ ³0DQ N|QQWH IDVW JODXEHQ GLH %HEHQ ZlUHQ DP =HQWUXP GHU 6WDWLRQVSXUORVYRUEHUJHJDQJHQ´ $OOH0DVFKLQHQUlXPHZDUHQYHUODVVHQ'LH.UDWDPRQHQGLHKLHUQRUPDOHUZHLVH DUEHLWHWHQZDUHQHQWZHGHUJHIORKHQRGHUGHU.5$7$KDWWHVLH]XUFNJHUXIHQ 9RQ )DOOHQ RGHU 6SHUUHQ ZDU QLFKWV ]X PHUNHQ (QWZHGHU KDWWH GHU $UEHLWHU JHORJHQRGHUGHU.5$7$KDWWHDOOH+LQGHUQLVVHEHVHLWLJHQODVVHQXPGLH(LQGULQJOLQJH QLFKWEHLLKUHU6XFKH]XVW|UHQ ³,FKNDQQPLUHLQIDFKQLFKWYRUVWHOOHQGDGHU$NWLYDWRUKLHULUJHQGZRVHLQVROO´ VDJWH7HNHQHU]X.HQQRQ³'HU.5$7$KlWWHLKQGDQQVFKRQOlQJVWILQGHQPVVHQ´ ³'DVVWLPPWDOOHUGLQJV´EHVWlWLJWH.HQQRQDXVZHLFKHQG 7HNHQHU SUHWH GLH /LSSHQ IHVWHU ]XVDPPHQ GHQQ HU VSUWH GD VHLQ )UHXQG LKPNHLQHNODUH$XVNXQIWJHEHQZROOWH (UVHXI]WH ³,FK KDEH QLFKW GDV *HIKO GD ZLU ZLH HFKWH 3DUWQHU ]XVDPPHQDUEHLWHQ´ HUNOlUWHHU ³,FK YHUVWHKH QLFKW ZDV GX PHLQVW´ .HQQRQV 6WLPPH NODQJ ZDUQHQG HU ZROOWH RIIHQEDUYHUPHLGHQGDGHU.5$7$HWZDVYRQLKUHQ8QVWLPPLJNHLWHQHUIXKU 'RFK7HNHQHUZDUGXUFKGLH5HVHUYLHUWKHLWGHV)UHXQGHVJHUHL]W ³'X YHUVWHKVW PLFK JHQDX´ VWLH HU KHUYRU ³:HQQ GX PLFK QLFKW EHU DOOHV LQIRUPLHUVWZDVGXKHUDXVILQGHVWN|QQHQZLUQLFKWULFKWLJ]XVDPPHQDUEHLWHQ´ .HQQRQJDENHLQH$QWZRUW 7HNHQHU VDK HLQ GD HU DXI GLHVH :HLVH QLFKWV HUUHLFKHQ ZUGH (U PXWH ZDUWHQGD.HQQRQVHLQHQ6WDQGSXQNWlQGHUWH 6LH JHODQJWHQ GXUFK HLQHQ =ZLVFKHQJDQJ LQ HLQH GHU ]DKOUHLFKHQ (QHUJLHVWDWLRQHQ 7HNHQHUGHUEHUHLWVVRUJORVJHZRUGHQZDU]XFNWH]XUFNDOVHUPLWWHQLQGHP YRU LKQHQ OLHJHQGHQ 5DXP HLQH *UXSSH EHZDIIQHWHU 0lQQHU VWHKHQ VDK GLH HUUHJW GLVNXWLHUWHQ ³:lFKWHU´]LVFKWHHU.HQQRQ]X 'HU0DQQPLWGHPNQVWOLFKHQ.|USHUEOLFNWHLKPEHUGLH6FKXOWHUXQGQLFNWH ³:LUPVVHQGRUWYRUEHL(VJLEWNHLQHQDQGHUHQ:HJ´ 7HNHQHUVDKLKQ]ZHLIHOQGDQVDJWHMHGRFKQLFKWV ³,FK JODXEH GD GLH .UDWDPRQHQ QLFKWV YRQ GHU $EVLFKW GHV .5$7$ ZLVVHQ´ IXKU.HQQRQOHLVHIRUW³'LH.HUOHZHUGHQDOVRVRIRUWDQJUHLIHQZHQQVLHXQVVHKHQ´ ³:DV KDVW GX YRU"´ IUDJWH 7HNHQHU ,Q GHU JHIlKUOLFKHQ 6LWXDWLRQ YHUJD HU GHQ *UROODXIVHLQHQ3DUWQHU ³'X EOHLEVW GRUW GUEHQ KLQWHU GHP 6RFNHO´ VDJWH .HQQRQ ³,FK ZHUGH GLH .UDWDPRQHQDEOHQNHQXQGLQHLQHIDOVFKH5LFKWXQJOHQNHQ´ 7HNHQHU KDWWH VLFK GDPLW DEJHIXQGHQ GD HU LQ VROFKHQ 6LWXDWLRQHQ LPPHU GLH SDVVLYH 5ROOH EHUQHKPHQ PXWH (U YHUVWHFNWH VLFK KLQWHU GHP 6RFNHO DXI GHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
DQGHUHQ6HLWHGHV*DQJHV .HQQRQ VWLH HLQHQ ODXWHQ 6FKUHL DXV XQG UDQQWH GDYRQ 6RIRUW NDPHQ GLH .UDWDPRQHQ PLW VFKXEHUHLWHQ :DIIHQ DXV GHU (QHUJLHVWDWLRQ XQG IROJWHQ GHP 862 6SH]LDOLVWHQ .HQQRQ ZDU EHUHLWV YHUVFKZXQGHQ DOV DOOH 9HUIROJHU VLFK LP *DQJ EHIDQGHQ 7HNHQHU QXW]WH GLH 9HUZLUUXQJ GHU :lFKWHU XQG VFKOLFK VLFK LQ GLH (QHUJLHVWDWLRQ 6FKRQ QDFK HLQ SDDU 6FKULWWHQ VSUWH HU HLQ 3ULFNHOQ LP JHVDPWHQ .|USHU(UZROOWHVLFK]XUFN]LHKHQGRFKHVZDUVFKRQ]XVSlW 'LH/lKPXQJEUHLWHWHVLFKVFKQHOODXVXQG]ZDQJLKQ]X%RGHQ8QPLWWHOEDUYRU HLQHPNHJHOI|UPLJHQ5HDNWRUVDQNHU]XVDPPHQ(UZDULQHLQH)DOOHJHJDQJHQ (U ODJ VR GD HU GLH 7U VHKHQ NRQQWH +RIIHQWOLFK EHJULII .HQQRQ VRIRUW ZDV JHVFKHKHQZDU'DV*HKLUQVHLQHV3DUWQHUVZDUEHVRQGHUVHPSILQGOLFK 7HNHQHU ZXWH QLFKW YRQ ZR GLH SDUDO\VLHUHQGH 6WUDKOXQJ DXVJLQJ (U IUDJWH VLFK ZDUXP GLH .UDWDPRQHQ QLFKW GDYRQ EHWURIIHQ ZXUGHQ (QWZHGHU VLH WUXJHQ 6SH]LDOVFKXW]NOHLGXQJ RGHU GLH :LUNXQJ GHU 6WUDKOXQJ KDWWH HUVW HLQJHVHW]W DOV 7HNHQHUKHUHLQJHNRPPHQZDU 1DFK HLQHU :HLOH NDPHQ GLH .UDWDPRQHQ ]XUFN 9RQ .HQQRQ ZDU QLFKWV ]X VHKHQ 'LH :lFKWHU VDKHQ 7HNHQHU DP %RGHQ OLHJHQ XQG EOLHEHQ LP (LQJDQJ VWHKHQ 6LH VFKLHQHQ JHQDX ]X ZLVVHQ GD HV MHW]W JHIlKUOLFK ZDU GLH (QHUJLHVWDWLRQ ]X EHWUHWHQ 1DFK HLQHU KHIWLJHQ 'LVNXVVLRQ WUDW HLQHU GHU 0lQQHU YRU KRE VHLQH :DIIH XQG ]LHOWH GDPLW DXI 7HNHQHU 'HU 8626SH]LDOLVW NRQQWH VLFK QLFKW UKUHQ (U EHIUFKWHWHGDGLH.UDWDPRQHQHQWVFKORVVHQZDUHQLKQ]XW|WHQ
'LH,PSXOVHGHV=HOODNWLYDWRUVZDUHQMHW]WVRGHXWOLFK]XRUWHQGD.HQQRQGDV *HUlW LQ XQPLWWHOEDUHU 1lKH YHUPXWHWH (U VWDQG YRU GHP (LQJDQJ HLQHV 0DVFKLQHQUDXPV 'HU /lUP GHU 9HUIROJHU ZDU YHUNOXQJHQ 'LH .UDWDPRQHQ KDWWHQ RIIHQEDU HLQJHVHKHQ GD VLH GHQ YHUPHLQWOLFKHQ 6NODYHQ QLFKW HLQKROHQ NRQQWHQ XQG ZDUHQXPJHNHKUW.HQQRQZDUVLFKHUGD7HNHQHUGLH*HOHJHQKHLWJHQXW]WKDWWHXQG LQGLH(QHUJLHVWDWLRQHLQJHGUXQJHQZDU 'DV EHGHXWHWH GD GHU 6SLHOHU YRUOlXILJ LQ 6LFKHUKHLW ZDU $XHUGHP EHVD 7HNHQHUJHQJHQG(UIDKUXQJXPHLQLJH=HLWDOOHLQGXUFKKDOWHQ]XN|QQHQ 'HU $QIOXJ HLQHV /lFKHOQV KXVFKWH EHU .HQQRQV NQVWOLFKHV *HVLFKW (U KDWWH VLFK VR VHKU GDUDQ JHZ|KQW VHLQHQ .|USHU DXFK XQEHZXW ]X VWHXHUQ GD VHLQH hEHUOHJXQJHQEHLQDKHPHQVFKOLFKH5HDNWLRQHQGHV5RERWN|USHUVDXVO|VWHQ ,Q GLHVHP $XJHQEOLFN lQGHUWH .HQQRQ VHLQH 3OlQH 'HU =HOODNWLYDWRU PXWH LQ GHUQlKHUHQ8PJHEXQJ]XILQGHQVHLQ.HQQRQEHVFKORDXIHLJHQH)DXVWGDQDFK]X VXFKHQ :HQQ HU LKQ IDQG VRODQJH 7HNHQHU QLFKW LQ GHU 1lKH ZDU NRQQWH HU YLHOHQ 6FKZLHULJNHLWHQYRUEHXJHQ7HNHQHUZUGH ]ZDUZWHQGVHLQGRFKDXIGLH6WLPPXQJ GHV6SLHOHUVNRQQWH.HQQRQMHW]WNHLQH5FNVLFKWQHKPHQ (LQ ZHLWHUHU *HGDQNH GXUFK]XFNWH VHLQ *HKLUQ :HQQ HU GHQ $NWLYDWRU ILQGHQ VROOWH ZUGH HU HV 7HNHQHU JHJHQEHU YHUVFKZHLJHQ $XI GLHVH :HLVH YHUPLHG HU .RPSOLNDWLRQHQ ,KUH 7UHQQXQJ GLH .HQQRQ VRHEHQ EHVFKORVVHQ KDWWH EHVD QRFK HLQHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
ZHLWHUHQ9RUWHLO.DPLWDUDPXWHVLHEHLGHJOHLFK]HLWLJEHREDFKWHQZDVEHVWLPPWQLFKW HLQIDFKVHLQZUGH .HQQRQVHW]WHVLFKZLHGHULQ%HZHJXQJ(UJLQJLQGLH5LFKWXQJDXVGHUHUGLH ,PSXOVHRUWHWH'DEHLIUDJWHHUVLFKREDXFKGHU.5$7$GLHVH,PSXOVHK|UWHXQGLKQHQ QDFKJLQJ(VZDUZLUNOLFKHUVWDXQOLFKGDGHU:LVVHQVFKDIWOHUGHQ$NWLYDWRUQRFKQLFKW JHIXQGHQKDWWHREZRKOHUVLFKLQVHLQHP]HQWUDOHQ+HUUVFKDIWVEHUHLFKEHIDQG
%LJ%HQ6SHFLDOIORJPLW+LOIHVHLQHU5FNHQKXEVFKUDXEHGXUFKGDV,QQHUHGHV VRJHQDQQWHQGXQNOHQ0RQGHV%HZXWYHU]LFKWHWHHUDXIVHLQH$QWLJUDYSURMHNWRUHQGLH LKQ VFKQHOOHU YRUDQJHEUDFKW KlWWHQ (U ZROOWH HLQH 2UWXQJVJHIDKU YHUPHLGHQ 'LH ZLQ]LJHQ%DWWHULHQGLHGLH+XEVFKUDXEHYHUVRUJWHQNRQQWHQDXINHLQHQ)DOODQJHSHLOW ZHUGHQ 'HU 6LJDQHVH YHU]LFKWHWH VRJDU DXI VHLQHQ 0LNURUHIOHNWRU $XIJUXQG VHLQHU JHULQJHQ*U|HEUDXFKWHHUHLQH(QWGHFNXQJQLFKW]XEHIUFKWHQ /lQJVWKDWWHHUGHQ:RKQWUDNWGHU6WDWLRQHUUHLFKW$QYHUVFKLHGHQHQ6WHOOHQVDK HU 5LVVH LQ :lQGHQ XQG 'HFNH *ODV ZDU ]HUVSUXQJHQ XQG GHU %RGHQ ZDU YRQ HLQHU IHLQHQ 6WDXEVFKLFKW EHGHFNW 'DV EHZLHV GHP 8626SH]LDOLVWHQ GD GLH (UVFKWWHUXQJHQ GHU 9XONDQLQVHO DXFK KLHU VSUEDU JHZRUGHQ ZDUHQ (LQLJH 5HSDUDWXUWUXSSV ZDUHQ PLQGHU %HVHLWLJXQJ GHU 6FKlGHQ EHVFKlIWLJW ,QQHUKDOE GHV :RKQWUDNWV ZDU HV YHUKlOWQLVPlLJ VWLOO 1XU ZHQLJ %HVDW]XQJVPLWJOLHGHU GHU 6WDWLRQ KLHOWHQVLFKKLHUDXI %LJ %HQ 6SHFLDO IORJ ZHLWHU (U JHODQJWH LQ GLH .UDQNHQDEWHLOXQJ XQG ]X GHQ /DERUV'RUWPDFKWHHUHLQHPDNDEUH(QWGHFNXQJ0HGL]LQHUYHUK|UWHQLP$XIWUDJGHV .5$7$ 0LWJOLHGHU MHQHU *UXSSH YRQ (GOHQ GLH ]XVDPPHQ PLW 7HNHQHU .HQQRQ XQG LKP KLHUKHU JHNRPPHQ ZDUHQ ,QVJHVDPW VHFKV 0lQQHU ODJHQ QDFNW DXI GHP %DXFK XQGZXUGHQYRQGHQbU]WHQYHUK|UW'HU8PZHOWDQJHSDWHVWHOOWH]XVHLQHP(QWVHW]HQ IHVWGDGHQ8QJOFNOLFKHQVRJDU5FNHQPDUNSUREHQHQWQRPPHQZXUGHQ ,Q HLQHP DQGHUHQ 7HLO GHU .UDQNHQVWDWLRQ HQWGHFNWH %LJ %HQ 6SHFLDO VHOWVDPH .UHDWXUHQ GLH WURW] LKUHU 9HUXQVWDOWXQJ KXPDQRLGHU +HUNXQIW ]X VHLQ VFKLHQHQ 'LH :HVHQEHIDQGHQVLFKLQ.lILJHQRGHUVFKZDPPHQLQ%HKlOWHUQPLW1lKUIOVVLJNHLW'LH PHLVWHQGDYRQZDUHQQLFKWULFKWLJEHL%HVLQQXQJ %LJ%HQ6SHFLDOEHJULIIGD.DPLWDUDGLHYHUERWHQHQ7UDQVSODQWDWLRQHQDXFKDXI GLHVHU :HOW IRUWJHVHW]W KDWWH 'RUW XQWHQ VDK HU GLH 2SIHU GHV YHUEUHFKHULVFKHQ :LVVHQVFKDIWOHUV 'HU 6LJDQHVH ZDJWH QLFKW GDUDQ ]X GHQNHQ LQ ZHOFKHU )RUP .DPLWDUDVHLQH([SHULPHQWHKLHUDXIGLHVHP3ODQHWHQGXUFKJHIKUWKDWWH(VZDUNDXP YRUVWHOOEDUGDGHU%LRFKHPLNHU5FNVLFKWJHEWKDWWH 'LH 8QJHKHXHU JDEHQ HLJHQDUWLJH *HUlXVFKH YRQ VLFK %LJ %HQ 6SHFLDO KRIIWH GDVLHVLFKLKUHVVFKUHFNOLFKHQ6FKLFNVDOVQLFKWEHZXWZDUHQ (U NRQQWH GHQ $QEOLFN GHU 8QJOFNOLFKHQ QLFKW OlQJHU HUWUDJHQ XQG IORJ ZHLWHU 'LH6WDWLRQZDUVRJURGDHUODQJHEUDXFKHQZUGHELVHUDOOH5lXPHXQG*lQJH GXUFKVXFKWKDWWH(UKRIIWHGDHUGHQ.5$7$ILQGHQZUGH 'HU 8626SH]LDOLVW IUDJWH VLFK ZDUXP GHU .5$7$ GHQ =HOOlNWLYDWRU QRFK QLFKW JHIXQGHQ KDWWH =ZHLIHOORV JHK|UWH GDV *HUlW ]X GHQ ([HPSODUHQ GLH (6 YRU GUHLXQGDFKW]LJ -DKUHQ EHUDOO LQ GHU *DOD[LV DXVJHVWUHXW KDWWH 'LH 7DWVDFKH GD GLHVHU $NWLYDWRU QRFK QLFKW JHIXQGHQ ZRUGHQ ZDU OLH YHUPXWHQ GD HWZDV PLW LKP
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
QLFKWLQ2UGQXQJZDU9LHOOHLFKWZDUVHLQH)XQNDQODJHGHIHNWRGHUHUKDWWHDXVDQGHUHQ *UQGHQ HUVW YRU NXU]HU =HLW PLW GHU $EVWUDKOXQJ GHU FKDUDNWHULVWLVFKHQ ,PSXOVH EHJRQQHQ7\SLVFKIUGLHVHV([HPSODUVFKLHQ]XVHLQGDHVGLH0|JOLFKNHLWEHVD VLFKYRQHLQHU6WHOOH]XUDQGHUHQ]XEHZHJHQ'DVZDUHLQ3KlQRPHQ%LJ%HQ6SHFLDO ZXQGHUWHVLFKMHGRFKEHUQLFKWVZDVPLW(6XQGGHQ=HOODNWLYDWRUHQ]XVDPPHQKLQJ 'DV*HLVWHVZHVHQYRP3ODQHWHQ:DQGHUHUKDWWHRIWJHQXJEHZLHVHQGDHVVLFKJHUQ EHU GLH ,QWHOOLJHQ]HQ GHU *DOD[LV OXVWLJ PDFKWH 9LHOOHLFKW ZDU GLHVHU QHXHQWGHFNWH $NWLYDWRUHLQJDQ]JURHU6FKHU]GHV8QVWHUEOLFKHQYRQ:DQGHUHU 0LW +LOIH VHLQHV ZLQ]LJHQ 2UWXQJVJHUlWHV NRQQWH %LJ %HQ 6SHFLDO GLH ,PSXOVH GHV =HOODNWLYDWRUV DXFK MHW]W HPSIDQJHQ (U NPPHUWH VLFK MHGRFK QLFKW GDUXP 6HLQ =LHOZDUGHU.5$7$ .HQQRQ 'LH,PSXOVHGHV=HOODNWLYDWRUVVLQGVRGHXWOLFKGDLFKLKQVHKHQPWH'RFK LFKKDEHGHQ5DXPLQGHPLFKPLFKEHILQGHJUQGOLFKXQWHUVXFKWRKQHDXFKQXUGLH 6SXUHLQHV$NWLYDWRUV]XHQWGHFNHQ'DVLVWPHKUDOVUlWVHOKDIW ,FKPXEDOG]X7HNHQHU]XUFNNHKUHQ:HQQLFKQRFKOlQJHUDOOHLQ-DJGQDFK GHP$NWLYDWRUPDFKHNDQQ7HNHQHULQ*HIDKUJHUDWHQ$XHUGHPZLUGHUYLHOH)UDJHQ VWHOOHQZHQQLFK]XUFNNRPPH,FKNDQQPLUVHLQH8QJHGXOGJXWYRUVWHOOHQ :LHGHUVHKHLFKPLFKLQQHUKDOEGHV5DXPHVXP ,VWDOOHVQXUHLQ6SXN²HLQPDNDEUHU6FKHU]YRQ(6" :DUGHU$XIZDQG.DPLWDUDVXPVRQVW"-DJWHHUODQJH=HLWKLQWHUHLQHP3KDQWRP KHU" 6FKDOOHQGHV *HOlFKWHU XQWHUEULFKW PHLQH *HGDQNHQ (V NRPPW DXV PHKUHUHQ /DXWVSUHFKHUQVRGDHLQXQJHZ|KQOLFKHU(FKRHIIHNWHQWVWHKW 'DVLVWHU².DPLWDUD (UEHREDFKWHWPLFKZLHGHU ³1XQ"´ K|UH LFK VHLQH VS|WWLVFKH 6WLPPH DXINOLQJHQ ³$P (QGH GHU :HLVKHLW 6SH]LDOLVWYRQ$WODQV*QDGHQ"´ (UVFKHLQWQXU]XZLVVHQGDLFKGHU862DQJHK|UH'DLFK.HQQRQELQDKQW HUZDKUVFKHLQOLFKQRFKQLFKWHLQPDO 3O|W]OLFKEHNRPPWVHLQH6WLPPHHLQHQYHU]ZHLIHOWHQ8QWHUWRQ ³6HKHQ 6LH MHW]W GD GDV 'LQJ XQDXIILQGEDU LVW" 9LHOOHLFKW NRPPHQ VHLQH ,PSXOVHLQHLQSDDU0LQXWHQYRQ&XQ]RUWKD'DVLVWDOOHVP|JOLFK6HLW-DKUHQMDJHLFK TXHUXPGLHVH:HOWKLQWHUGHP*HUlWKHU,FKZHLLUJHQGZRPXHVVHLQ'LH,PSXOVH YHUIROJHQPLFKVFKRQLP6FKODI´ &XQ]RUWKDHULQQHUHLFKPLFKLVWGHUJHKHLPQLVYROOH1RUGNRQWLQHQW ³,FK YHUVWHKH 6LH´ HUZLGHUH LFK UXKLJ ³6LQG 6LH QRFK QLH DXI GHQ *HGDQNHQ JHNRPPHQ GD 6LH QLFKW GHU ULFKWLJH 0DQQ IU GLHVHQ $NWLYDWRU VLQG 6LH ZHUGHQ LKQ QLHPDOVEHNRPPHQ´ ³8QG6LH"´K|KQWHU³6LHVLQGHLQ0DQQGHV*HVHW]HV6LHYHUWUHWHQ5HFKWXQG 2UGQXQJ:DUXPVHKHQ6LHGDV*HUlWQLFKW"6LQG6LHVHLQHUQLFKWZUGLJ"´ ,Q GLHVHP $XJHQEOLFN HUNHQQH LFK GD GDV /HEHQV]LHO GLHVHV 0DQQHV GLH 8QVWHUEOLFKNHLW LVW 6HLQH JDQ]HQ +DQGOXQJHQ GLHQWHQ OHW]WOLFK QXU GHP =ZHFN HLQH
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
0|JOLFKNHLW ]XU /HEHQVYHUOlQJHUXQJ ]X ILQGHQ (V LVW GLH 6XFKW QDFK GHU 8QVWHUEOLFKNHLWGLHLKQ]XP9HUEUHFKHUZHUGHQOLH .DPLWDUD ZUGH EHGHQNHQORV PRUGHQ UDXEHQ XQG ]HUVW|UHQ XP VHLQ =LHO ]X HUUHLFKHQ ³6XFKHQ6LH´JHOOWVHLQH6WLPPH³6XFKHQ6LHGRFKHQGOLFKZHLWHU´ ,FK GUHKH PLFK ODQJVDP XP XQG YHUODVVH GHQ 5DXP 6HLQ *HOlFKWHU YHUIROJW PLFKELVDXIGHQ*DQJKLQDXV *HQDXLQGLHVHP$XJHQEOLFNEHJLQQWGHU%RGHQZLHGHU]XYLEULHUHQHLQGXPSIHV *UROOHQ GXUFKOlXIW GHQ .UDWHU GHV GXQNOHQ 0RQGHV :LHGHU EHJLQQW GHU 9XONDQ ]X UHEHOOLHUHQ ³6LHPVVHQVLFKEHHLOHQ.5$7$´UXIHLFKODXW³,KUH=HLWLVWEDOGDEJHODXIHQ´
6LQFODLU 0 .HQQRQ VSUWH VRIRUW GD GLHVH ]ZHLWH :HOOH GHV %HEHQV ZHLWDXV KHIWLJHU VHLQ ZUGH DOV GLH HUVWH (U UHFKQHWH PLW VFKOLPPHQ =HUVW|UXQJHQ YLHOOHLFKW VRJDUPLWGHP(QGHGLHVHU6WDWLRQ$XIMHGHQ)DOOPXWHHUVRIRUW]X7HNHQHU]XUFN $OOHLQZDUGHU3DUWQHUMHW]WLQDOOHUK|FKVWHU*HIDKU .HQQRQUDQQWHORV(UKDWWHVLFKGHQ:HJJHQDXHLQJHSUlJWVRGDHVLKPQLFKW VFKZHUILHOVLFKLQGHQ]DKOUHLFKHQ*lQJHQXQG5l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lQJHQGHQ 7UPPHU PLW YRUJHVWUHFNWHQ $UPHQ XQG EHIDQG VLFK ZLHGHU LP IUHLHQ *DQJ hEHUDOO ELOGHWHQ VLFK 5LVVH 'DV .UDFKHQ HLQVWU]HQGHU 5lXPH ZDU XQEHUK|UEDU 'DV 6FKUHLHQ 9HUZXQGHWHU PLVFKWH VLFK GD]ZLVFKHQ .HQQRQ PDFKWH VLFK MHW]W HUQVWH 6RUJHQ XP 7HNHQHU :HQLJ VSlWHU HUUHLFKWH HU GHQ (LQJDQJ GHU (QHUJLHVWDWLRQ ZR HU 7HNHQHU ]XUFNJHODVVHQ KDWWH 9RQ GHQ .UDWDPRQHQ ZDU QLFKWV PHKU ]X VHKHQ 'LH \ 4XHUVWW]HGHV(LQJDQJVZDUDXVLKUHU9HUDQNHUXQJJHULVVHQ .HQQRQEOLFNWHVLFKXP ³7HN´ULHIHUODXW 1LFKWVUKUWHVLFK 7HNHQHUZDUYHUVFKZXQGHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
$OV GDV ]ZHLWH %HEHQ EHJDQQ EHIDQG %LJ %HQ 6SHFLDO VLFK LQ HLQHU JUR]JLJ DQJHOHJWHQ%LEOLRWKHN.DVVHWWHQXQG7RQVSXOHQZDUHQDXVGHQ5HJDOHQJHVWU]W$XI HLQHU 6HLWH GHV 5DXPHV ZDU GHU %RGHQ PHWHUEUHLW DXIJHULVVHQ :LH HLQ JLHULJHV 0DXO YHUVFKODQJ GHU 6SDOW DOOH LQ GHU 1lKH OLHJHQGHQ %FKHU (LQ JURHU /HVHWLVFK ZDU KLQHLQJHVWU]WKLQJDEHUQRFKPLWHLQHP%HLQDP5DQGIHVW %LJ %HQ 6SHFLDO IORJ GLFKW XQWHU GHU 'HFNH (U KDWWH MHW]W ]XVlW]OLFK VHLQHQ $QWLJUDYSURMHNWRU HLQJHVFKDOWHW GHQQ HU KLHOW HV IU DXVJHVFKORVVHQ GD MHW]W QRFK MHPDQGGLH1HUYHQKDWWHLUJHQGZHOFKH2UWXQJVJHVSUlFKH]XEHREDFKWHQ 'HU 6LJDQHVH YHUPXWHWH GD HU VLFK LQ GHQ SULYDWHQ 5lXPHQ GHV .5$7$ EHIDQG 'HU YRQ *HKHLPQLVVHQ XPZLWWHUWH +HUUVFKHU GHV 3ODQHWHQ .KD]D ZDU MHGRFK QLFKW DQZHVHQG (QWZHGHU KLHOW HU VLFK LQ HLQHP DQGHUHQ 7HLO GHU 6WDWLRQ DXI RGHU HU ZDUOlQJVWJHIORKHQ 'HU 8PZHOWDQJHSDWH YHUOLH GLH %LEOLRWKHN XQG JHODQJWH LQ HLQH JURH +DOOH GHUHQ :lQGH GUHLGLPHQVLRQDOH /DQGVFKDIWVELOGHU ]HLJWHQ ,PLWLHUWH 7LHUH YRU DOOHP 9|JHO EHZHJWHQ VLFK DXI LKUHQ YRUSURJUDPPLHUWHQ :HJHQ 9LHOH YRQ LKQHQ ZDUHQ GXUFKGLH(UVFKWWHUXQJHQEHUHLWV]HUVW|UWZRUGHQ ³8QVHU)UHXQGKDWHLQH9RUOLHEHIU.LWVFK´PXUPHOWHGHU6LJDQHVHYRUVLFKKLQ $PDQGHUHQ(QGHGHU+DOOHHQWVWDQGHLQH%HZHJXQJ%LJ%HQ6SHFLDOOLHVLFK HLQ 6WFN KLQDEVLQNHQ XQG VDK HLQHQ DOWHQ 0DQQ GHVVHQ %HLQ XQWHU HLQHP XPJHVWU]WHQNQVWOLFKHQ%DXPHLQJHNOHPPWZDU=|JHUQGIORJGHU8626SH]LDOLVW]X GHU8QJOFNVVWHOOH %LJ %HQ 6SHFLDO KDWWH VFKRQ %LOGHU YRQ .DPLWDUD JHVHKHQ XQG ZXWH GD GHU 9HUXQJOFNWHQLFKWPLWGHP.5$7$LGHQWLVFKZDU 'HUDOWH0DQQVW|KQWHOHLVH1DFKHLQHU:HLOHJDEHUVHLQH%HPKXQJHQDXIXQG OHKQWHVLFK]XUFN %LJ %HQ 6SHFLDO VDK GD GHU 9HUOHW]WH NHLQ .UDWDPRQH ZDU (U EHVD ZHLH +DXWXQGKHOOH+DDUH (LQ7HUUDQHUVFKRHV%LJ%HQ6SHFLDOGXUFKGHQ.RSI (U OLH VLFK ZHLWHU KLQDEVLQNHQ XQG ODQGHWH VFKOLHOLFK DXI GHP %DXP GHU GHQ DOWHQ0DQQIHVWKLHOW%OXWVLFNHUWHGHP9HUOHW]WHQDXVHLQHU:XQGHDP+DOV :LHGHUEHEWHGHU%RGHQ'HU%DXPJHULHWLQ%HZHJXQJXQGUXWVFKWHTXHUEHU GHQ .|USHU GHV KHOOKlXWLJHQ 0DQQHV 9HUJHEOLFK YHUVXFKWH GHU (LQJHNOHPPWH GDV *HZLFKWYRQVHLQHP.|USHU]XVFKLHEHQ %LJ %HQ VHW]WH VLFK LQ %HZHJXQJ XQG ODQGHWH YRU GHP *HVLFKW GHV 9HUXQJOFNWHQ 'HU0DQQVWDUUWHLKQDQZLHHLQH(UVFKHLQXQJ ³6LH EUDXFKHQ QLFKW ]X HUVFKUHFNHQ´ VFKULH %LJ %HQ ³,FK ELQ HLQ VLJDQHVLVFKHU 8PZHOWDQJHSDWHULP'LHQVWHGHU862´ (U EHQXW]WH ,QWHUNRVPR $P HUVFKURFNHQHQ *HVLFKWVDXVGUXFN GHV 0DQQHV HUNDQQWHHUGDHUYHUVWDQGHQZRUGHQZDU ³:HUVLQG6LH"´ULHI%LJ%HQ³6LHJHK|UHQGRFKQLFKW]XGHQ.UDWDPRQHQ"´ 'HUDOWH0DQQVFKWWHOWHGHQ.RSIVDJWHDEHUQLFKWV 'HU6LJDQHVH]HLJWHLKPGHQ'HVLQWHJUDWRU ³,FK NDQQ 6LH EHIUHLHQ´ HUNOlUWH HU ³'D]X EUDXFKH LFK QXU GHQ 6WDPP ]X ]HUVWUDKOHQ$EHU]XQlFKVWHLQPDOPXLFKZLVVHQZHU6LHVLQGXQGZDV6LHKLHUWXQ´ 'HU9HUXQJOFNWH]|JHUWH(UVFKLHQYRULUJHQGHWZDV$QJVW]XKDEHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³6LHN|QQHQQLFKWPHKUODQJHDXVKDOWHQ´IXKU%LJ%HQIRUW³'LH%HEHQQHKPHQ DQ +HIWLJNHLW ]X %DOG ZLUG GLH 'HFNH KHUDENRPPHQ RGHU GHU %RGHQ DXIUHLHQ :HQQ 6LH,KU/HEHQUHWWHQZROOHQPVVHQ6LHMHW]WIOLHKHQ´ ³0HLQ 1DPH LVW 'LOJHU´ VDJWH GHU $OWH PLW NDXP YHUVWlQGOLFKHU 6WLPPH (U VWUHFNWH EHLGH +lQGH YRQ VLFK %LJ %HQ 6SHFLDO VDK ]X VHLQHP (QWVHW]HQ GD VLH VHLWHQYHUNHKUWDQGHQ$UPHQVDHQ ³6LHPWHQPHLQHQ1DPHQVFKRQJHK|UWKDEHQ´IXKU'LOJHUIRUW ³,FK HULQQHUH PLFK´ VDJWH %LJ %HQ ³6LH VLQG GHU EHUKPWH %LRORJH GHU EHL ([SHULPHQWHQPLWGHQIOHLVFKIUHVVHQGHQ.HUU3IODQ]HQYRQ7XPDEHLGH+lQGHYHUORU´ 'LOJHUQLFNWH ³'DPDOVOHUQWHLFK.DPLWDUDNHQQHQ´HUNOlUWHHU³(UYHUVSUDFKPLUQHXH+lQGH .HLQHGLHVHUWRWHQ3URWKHVHQVRQGHUQULFKWLJHOHEHQGH+lQGH´'LH(ULQQHUXQJVFKLHQ LKQ]XEHUPDQQHQHUGUHKWHGHQ.RSI]XU6HLWHXQGVFKORGLH$XJHQ³(UKLHOWVHLQ 9HUVSUHFKHQ DEHU HU VHW]WH GLH +lQGH VHLWHQYHUNHKUW DQ 9RQ GLHVHP =HLWSXQNW DQ ]ZDQJHUPLFK]XU0LWDUEHLWDQVHLQHQ3URMHNWHQ6REDOGHUGHQ=HOODNWLYDWRUJHIXQGHQ KDWZLOOHUPLUGLH+lQGHULFKWLJDQVHW]HQ$XIGLHVH:HLVHHUSUHWHUPLFKVHLW-DKUHQ´ %LJ %HQ 6SHFLDO ZXWH GD MHW]W QLFKW GLH =HLW ZDU XP 'LOJHU 9RUZUIH ]X PDFKHQ (U ]LHOWH PLW VHLQHU :DIIH DXI GHQ NQVWOLFKHQ %DXP XQG ]HUVWUDKOWH LKQ 'LH 5HVWHVFKRE'LOJHU]XU6HLWH ³,FK KDEH ,KQHQ JHKROIHQ²MHW]W VLQG 6LH DQ GHU 5HLKH´ VDJWH %LJ %HQ 6SHFLDO QDFKGHPGHU%LRORJHVLFKPKVDPDXIJHULFKWHWKDWWH ³*HKROIHQ"´ ZLHGHUKROWH 'LOJHU LURQLVFK ³:DV VROOWH LFK GHQQ MHW]W ,KUHU $QVLFKW QDFKWXQ":RKLQNDQQLFKIOLHKHQ",FKELQYHUORUHQZHQQGHU.5$7$PLUQLFKWKLOIW´ 'HU 8PZHOWDQJHSDWH EHJULII ZLH VHKU GHU :LVVHQVFKDIWOHU YRQ VHLQHP YHUEUHFKHULVFKHQ.ROOHJHQDEKlQJLJZDU'LOJHUEHVDNHLQHUOHL,QLWLDWLYHPHKU ³6LH NHQQHQ VLFK LQ GLHVHU 6WDWLRQ DXV´ VDJWH %LJ %HQ ³)KUHQ 6LH PLFK ]XP .5$7$´ ³,FK ELQ VLFKHU GD HU VLFK MHW]W LQ HLQHP VHLQHU ]DKOUHLFKHQ JHSDQ]HUWHQ *HKHLPYHUVWHFNH DXIKlOW´ VDJWH 'LOJHU ³'LHVH 5lXPH VLQG VFKZHU ]XJlQJOLFK XQG NDXP ]X ILQGHQ 6LH VLQG EHVRQGHUV JHJHQ 1DWXUNDWDVWURSKHQ GLHVHU $UW DEJHVLFKHUW ,FK JODXEH GD GHU .5$7$ VRJDU HLQHQ 7UDQVPLWWHU EHVLW]W GXUFK GHQ HU LP (UQVWIDOO IOLHKHQNDQQ´ ³*LEWHV5HWWXQJVIOXJ]HXJH"´ ³(LQ SDDU´ HUZLGHUWH 'LOJHU ³,FK EHIUFKWH MHGRFK GD GLH HQJVWHQ 0LWDUEHLWHU .DPLWDUDVOlQJVWGDPLWJHIORKHQVLQG´ 6FKZlFKHEHUPDQQWHLKQ6HLQ*HVLFKWZXUGHQRFKEODVVHU(UVDQN]X%RGHQ XQG YHUORU GDV %HZXWVHLQ %LJ %HQ VWLH HLQH 9HUZQVFKXQJ DXV (U KDWWH JHKRIIW QRFKPHKUYRQGHP%LRORJHQ]XHUIDKUHQ :DVVROOWHHUMHW]WPLW'LOJHUWXQ" :HQQHULKQ]XUFNOLHEHGHXWHWHGDVGHQVLFKHUHQ7RGIUGHQDOWHQ0DQQ 'HU6LJDQHVHVHXI]WHXQGVFKDOWHWHVHLQ)XQNJHUlWHLQ(UULHI.HQQRQ ³6LQG 6LH YHUUFNW"´ NODQJ GLH 6WLPPH GHV .ULPLQDOLVWHQ DXI ³:LH N|QQHQ 6LH XQWHUGHQMHW]LJHQ8PVWlQGHQ,KU)XQNJHUlWEHQXW]HQ"´ %LJ%HQOLHVLFKQLFKWEHHLQGUXFNHQ ³1LHPDQG ZLUG XQV MHW]W QRFK DEK|UHQ´ VDJWH HU ³$XHUGHP LVW HV ZLFKWLJ ,FK
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
KDEH HLQHQ 0LWDUEHLWHU .DWLPDUDV JHIXQGHQ (U LVW YHUOHW]W XQG EHZXWORV (U VFKHLQW HLQH0HQJH]XZLVVHQZDVLQWHUHVVDQWIUXQVVHLQN|QQWH6HLQ1DPHLVW'LOJHU'DV VDJW,KQHQVLFKHUHWZDV´ (LQH :HLOH ZDU HV VWLOO VR GD %LJ %HQ EHUHLWV JODXEWH .HQQRQ KDEH GLH 9HUELQGXQJ]XLKPXQWHUEURFKHQ 'RFK GDQQ NODQJ GLH 6WLPPH .HQQRQV ZLHGHU DXV GHP VWHFNQDGHONRSIJURHQ /DXWVSUHFKHUYRQ%LJ%HQV$UPEDQGJHUlW ³,FK NDQQ ,KQHQ MHW]W QLFKW KHOIHQ %HQ 7HNHQHU LVW YHUVFKZXQGHQ ,FK PX LKQ ILQGHQ EHYRU GLH 6WDWLRQ HQGJOWLJ YHUQLFKWHW ZLUG =XU =HLW VLHKW HV E|VH DXV 6LH PVVHQVHOEVWPLW,KUHP3UREOHPIHUWLJZHUGHQ´ ³8QGZDVVROOLFKWXQ"´ ³6LH PVVHQ 'LOJHU ]XUFNODVVHQ (U LVW GHU 0LWDUEHLWHU HLQHV 9HUEUHFKHUV YHUJHVVHQ6LHGDVQLFKW´ ³+P´PDFKWH%LJ%HQHQWWlXVFKW (U EOLFNWH ZLHGHU DXI 'LOJHU KLQDE 'LOJHU ZDU ZDKUVFKHLQOLFK QXU GXUFK XQJOFNOLFKH8PVWlQGH]XP9HUEUHFKHUJHZRUGHQ ³,FK NRPPH ]XUFN´ HUNOlUWH %LJ %HQ HQWVFKORVVHQ ³=XQlFKVW MHGRFK ZLOO LFK YHUVXFKHQ HLQHQ GLHVHU JHKHLPHQ 5lXPH ]X ILQGHQ %LVKHU KDEH LFK NHLQH 7UDQVPLWWHUHUVFKWWHUXQJ JHRUWHW (V LVW DOVR VLFKHU GD GHU .5$7$ VLFK LQ VHLQHU 6WDWLRQDXIKlOW:DKUVFKHLQOLFKKRIIWHUQRFKLPPHUGHQ=HOODNWLYDWRU]XILQGHQ´ (UKREYRP%RGHQDEXQGIORJGDYRQ .HQQRQ YHUZQVFKWH GHQ /HLFKWVLQQ GHV 6LJDQHVHQ GHU VLFK QLFKW JHVFKHXW KDWWH RIIHQH )XQNVSUFKH DE]XVWUDKOHQ =ZDU ZDU NDXP DQ]XQHKPHQ GD QRFK MHPDQG *HOHJHQKHLW ]XP 0LWK|UHQ KDWWH DEHU %LJ %HQV 9HUKDOWHQ ZDU WURW]GHP ]X YHUXUWHLOHQ 9LHOOHLFKW KRFNWH GHU .5$7$ LQ HLQHP VLFKHUHQ 9HUVWHFN XQG EHREDFKWHWH GLH 6WDWLRQ 'DQQ ZXWH HU MHW]W GD HV DXHU GHQ EHLGHQ 0lQQHUQ GLH HU VFKRQ HQWGHFNW KDWWH HLQHQ GULWWHQ 8626SH]LDOLVWHQ LQQHUKDOE GHU 6WDWLRQ JDE GHQ 6LJDQHVHQ%LJ%HQ6SHFLDO ,Q]ZLVFKHQ KDWWH .HQQRQ GLH JHVDPWH 8PJHEXQJ GHU (QHUJLHVWDWLRQ QDFK VHLQHP 3DUWQHU DEJHVXFKW 'DEHL KDWWH HU QLFKW HLQPDO HLQH 6SXU VHLQHV )UHXQGHV JHIXQGHQ %HVRQGHUV JUQGOLFK KDWWH HU LQ DOOHQ ]HUVW|UWHQ 7HLOHQ GLHVHV 6HNWRUV QDFKJHVHKHQ GHQQ HV ZDU QLFKW DXV]XVFKOLHHQ GD 7HNHQHU LUJHQGZR XQWHU GHQ 7UPPHUQODJ $OOHVZHJHQGLHVHVYHUGDPPWHQ=HOODNWLYDWRUVGDFKWHHUZWHQG .HQQRQEHUOHJWHZDVHUMHW]WWXQVROOWH$XIMHGHU)DOOPXWHHUZHLWHUVXFKHQ QDFK7HNHQHUGHP.5$7$XQGGHP=HOODNWLYDWRU9LHO=HLWEOLHELKPGD]XQLFKWPHKU 'LH%HEHQZXUGHQLPPHUKHIWLJHUHLQLJH5lXPHZDUHQEHUHLWVVRVWDUNYHUZVWHWGD HUVLHQLFKWPHKUGXUFKTXHUHQNRQQWH .HQQRQGUDQJWURW]GHPLPPHUZHLWHU]XPHLJHQWOLFKHQ=HQWUXPGHU6WDWLRQYRU $E XQG ]X KLHOW HU LQQH XP ]X RUWHQ 'LH ,PSXOVH GHV =HOODNWLYDWRUV ZDUHQ ZLHGHU YHUVWXPPW9LHOOHLFKWZDUGDV*HUlWOlQJVW]HUVW|UWZRUGHQ.HQQRQKRIIWHMHGRFKGD HU+LQZHLVHDXIJHKHLPH9HUVWHFNHGHV.5$7$ILQGHQZUGH%HLGHU-DJGQDFKGHP $NWLYDWRUGXUIWHHUQLFKWYHUJHVVHQGDHUDXIGLHVHU:HOWZDUXPHLQHQJHIlKUOLFKHQ 9HUEUHFKHU XQVFKlGOLFK ]X PDFKHQ .DPLWDUD KDWWH 0HQVFKHQ ]X 0|UGHUQ DXVELOGHQ ODVVHQ XP GLH $XIPHUNVDPNHLW GXUFK GLH 7lWLJNHLW VHLQHU +HOIHU YRP 6RQQHQV\VWHP 5DWRV(ERUDE]XOHQNHQ/DQJH=HLWZDUGHU862XQNODUJHZHVHQZHOFKH0RWLYHGHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
YHUVFKLHGHQHQ$QVFKOlJHQ]XJUXQGHODJHQ .DPLWDUDV HLQ]LJHV %HVWUHEHQ ZDU JHZHVHQ 0HQVFKHQ GLH VLFK IU GHQ =HOODNWLYDWRU LQWHUHVVLHUHQ NRQQWHQ YRQ GHP YRQ LKP EHKHUUVFKWHQ 6RQQHQV\VWHP IHUQ]XKDOWHQ 'LH 0DFKHQVFKDIWHQ GHV %LRFKHPLNHUV ZDUHQ HQWGHFNW ZRUGHQ -HW]W PXWH .DPLWDUD DQJHVLFKWV GHU 1DWXUNDWDVWURSKH XP VHLW /HEHQ EDQJHQ 'RFK DXFK GLH 6SH]LDOLVWHQGLHLKQHQWODUYWKDWWHQVFKZHEWHQLQ/HEHQVJHIDKU )U HLQHQ $XJHQEOLFN K|UWHQ GLH (UVFKWWHUXQJHQ DXI DOV ZROOWHQ GLH 1DWXUJHZDOWHQ $WHP KROHQ IU GHQ OHW]WHQ XQG HQWVFKHLGHQGHQ 6FKODJ $XV HLQHP 6HLWHQJDQJNODQJGDV3UDVVHOQYRQ)ODPPHQDQ.HQQRQV*HK|U(UEOLHEVWHKHQXQG EOLFNWH LQ GLH 5LFKWXQJ DXV GHU GHU /lUP NDP )ODPPHQ ]QJHOWHQ DQ GHQ :lQGHQ HPSRU 'DV EHGHXWHWH HLQH ]XVlW]OLFKH *HIDKU %DOG ZUGH GLH JHVDPWH 6WDWLRQ LQ )ODPPHQVWHKHQZHQQVLHQLFKWYRUKHUY|OOLJLQVLFK]XVDPPHQILHO 'HU$XVEUXFKGHV)HXHUVZDUIU.HQQRQGDV6LJQDO]XK|FKVWHU(LOH(UNRQQWH MHW]W NHLQH 5FNVLFKW PHKU GDUDXI QHKPHQ GD HU YLHOOHLFKW YRQ MHPDQG EHREDFKWHW ZXUGH 6R VFKQHOO HU NRQQWH GXUFKTXHUWH HU GLH QlFKVWHQ 5lXPH RUWHWH XQG VDK VLFK QDFK7HNHQHUXP :HQLJ VSlWHU RUWHWH HU VWDUNH (QHUJLHLPSXOVH (U VWHOOWH GLH 5LFKWXQJ IHVW DXV GHU VLH NDPHQ IDQG DEHU QXU HLQH :DQG RKQH 7U 0HUNZUGLJ ZDU QXU GD GLHVH :DQG XQWHU GHQ (UVFKWWHUXQJHQ ELVKHU QLFKW JHOLWWHQ KDWWH 6LH ZLHV NHLQHUOHL 5LVVH DXI'DVNRQQWHQXUEHGHXWHQGDVLHVWDELOHUZDUDOVGLHEULJHQ:lQGH 'DKLQWHUYHUPXWHWH.HQQRQODJZDKUVFKHLQOLFKHLQ*HKHLPUDXPGHV.5$7$ (UXQWHUVXFKWHGLH:DQGXQGVWHOOWHIHVWGDVLHDXVHLQHPZLGHUVWDQGVIlKLJHQ 0DWHULDOEHVWDQG'HQ(LQJDQJMHGRFKNRQQWHHUQLFKWILQGHQ'DVNRQQWHQXUEHGHXWHQ GDGLHVRUJIlOWLJJHWDUQWH7ULQHLQHPDQGHUHQ5DXPODJ .HQQRQ PXWH GLH 7UPPHU HLQHV JURHQ 7HLOHV GHU 'HFNH ]XU 6HLWH UlXPHQ XPLQGLHEHQDFKEDUWH+DOOH]XNRPPHQ $XFKGRUWIDQGHUKLQWHUHLQHUJURHQ6FKDOWWDIHOHLQHQRFKXQEHVFKlGLJW:DQG 'LHVPDO HQWGHFNWH HU GHQ (LQJDQJ ]X GHP YHUVWHFNWHQ 5DXP (LQ 7HLO GHU 6FKDOWWDIHOOLHVLFKKHUDXVO|VHQ'DKLQWHU ODJGHU(LQJDQJ(UEHVDHLQHQHLQIDFKHQ 9HUVFKOXPHFKDQLVPXV .HQQRQ ZXQGHUWH VLFK QLFKW GDUEHU .DPLWDUD KDWWH ZDKUVFKHLQOLFK QLFKW GDPLW JHUHFKQHW GD VLFK MHPDOV DQGHUH :HVHQ DOV .UDWDPRQHQ LQGLHVHU6WDWLRQDXIKDOWHQZUGHQ .HQQRQEUDFKGLH7UDXIRKQH]X]|JHUQ (UEOLFNWHLQHLQHQ5DXPGHUYRQHLQHU'HFNHQODPSHKHOOEHOHXFKWHWZXUGH'LH (LQULFKWXQJ OLH .HQQRQ YHUPXWHQ GD HU HLQ PHGL]LQLVFKHV /DERU YRU VLFK KDWWH (U QDKP VLH MHGRFK QXU XQEHZXW ZDKU 6HLQH $XIPHUNVDPNHLW NRQ]HQWULHUWH VLFK VRIRUW DXIHLQHQ7LVFKDXIGHPHLQQDFNWHU0DQQIHVWJHVFKQDOOWZDU 'HU0DQQZDU7HNHQHU 7HNHQHU ,FK NRPPH ]X PLU XQG PLW GHP %HZXWVHLQ NHKUW GLH (ULQQHUXQJ ]XUFN $OV
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
ZlUH HV HEHQ HUVW JHVFKHKHQ VHKH LFK PLFK LQ GHU (QHUJLHVWDWLRQ OLHJHQ XQG GLH EHZDIIQHWHQ .UDWDPRQHQ DXI PLFK ]LHOHQ 'RFK EHYRU VLH PLFK HUVFKLHHQ NRQQWHQ HQWVWDQG ]ZLVFKHQ LKQHQ XQG PLU HLQH (QHUJLHEDUULHUH 'HU .5$7$ JULII HLQ 'LH .UDWDPRQHQ ]RJHQ VLFK ]XUFN :HQLJ VSlWHU HUVFKLHQHQ 5RERWHU XQG WUXJHQ PLFK GDYRQ ,FK ZDU QRFK LPPHU JHOlKPW XQG NRQQWH PLFK QLFKW ]XU :HKU VHW]HQ 'XUFK WHLOZHLVH]HUVW|UWH5lXPHXQG*lQJHVFKOHSSWHQVLHPLFKLQGLHVHV/DERULQGHPLFK MHW]W]XPLUJHNRPPHQELQ ,FKZXUGHDXIHLQHQ7LVFKJHOHJWDXVJH]RJHQXQGIHVWJHVFKQDOOW 'DQDFKHUVFKLHQGHU.5$7$ .DPLWDUD LVW HUVWDXQOLFKHUZHLVH HLQ XQDQVHKQOLFKHU GXUFKVFKQLWWOLFK ZLUNHQGHU 0DQQ DEHU VHLQ /lFKHOQ LVW GlPRQLVFK (V ]HLJW DOOH $EJUQGH VHLQHU 6HHOH (U LVW PLWWHOJUR XQG XQWHUVHW]W 6HLQ $XVVHKHQ EHVWlWLJW ZDV VHLQ 1DPH YHUPXWHQ OlW (U LVWMDSDQLVFKHU$EVWDPPXQJ6HLQ$OWHULVWVFKZHU]XVFKlW]HQDEHULFKZHLGDHU ]ZHLXQGVLHE]LJ-DKUHDOWLVW ³(LQH YRUWUHIIOLFKH 0DVNH´ VDJWH HU DQHUNHQQHQG ³(V ZLUG VLFKHU VHKU LQWHUHVVDQWVHLQGDVGDUXQWHUOLHJHQGH*HVLFKWIUHL]XOHJHQ´ ,FK NRQQWH ZHGHU DQWZRUWHQ QRFK PLFK VRQVW LUJHQGZLH YHUVWlQGOLFK PDFKHQ $EHUPLUZXUGHLQGLHVHP$XJHQEOLFNNODUGDHUHLQHQVFKUHFNOLFKHQ(QWVFKOXJHIDW KDWWH6HLQHQlFKVWHQ:RUWHEHVWlWLJWHQPHLQH$KQXQJ ³6REDOGLFKIHVWJHVWHOOWKDEHZHU6LHVLQGXQGZLH6LHDXVVHKHQZHUGHLFKPLU JHVWDWWHQ ,KQHQ HLQH QHXH 0DVNH DQ]XOHJHQ :LH 6LH ZLVVHQ ELQ LFK HLQ 0HLVWHU GHU 7UDQVSODQWDWLRQVFKLUXUJLH,PDOOJHPHLQHQYHUVXFKHLFKPHLQH3KDQWDVLH]X]JHOQ%HL ,KQHQKLQJHJHQZLOOLFKVFK|SIHULVFKWlWLJZHUGHQ´(UOlFKHOWHZLHGHU,FKHUNDQQWHGD VHLQ *HVLFKW YRQ IHLQHQ /LQLHQ GXUFK]RJHQ ZXUGH 'HU 9HUGDFKW GD .DPLWDUD 9HUVXFKHDQVLFKVHOEVWDXVJHIKUWKDWWHVWLHJLQPLUKRFK (UEHZHJWHVHLQHIHLQJOLHGULJHQ+lQGHDOVZROOWHHUPHLQ*HVLFKWXPVFKOLHHQ ³,FK ZHUGH 6LH LQ HLQ ZXQGHUVDPHV :HVHQ YHUZDQGHOQ PHLQ )UHXQG 6LH ZHUGHQVRVHOWVDPDXVVHKHQGD6LHVLFKVHOEVWQLFKWHUNHQQHQZHUGHQ'DQQZHUGH LFK 6LH IUHLODVVHQ GDPLW 6LH ]X ,KUHP +DXSWTXDUWLHU ]XUFNNHKUHQ XQG /RUGDGPLUDO $WODQ%HULFKWHUVWDWWHQN|QQHQ´ (U]RJVLFK]XUFN,FKK|UWHLKQLP+LQWHUJUXQGUXPRUHQ1DFKHLQHU:HLOHUROOWH HU HLQHQ 7LVFK QHEHQ PLFK XQG VSUKWH PHLQ *HVLFKW PLW HLQHU EHOULHFKHQGHQ )OVVLJNHLWHLQ ,FK VSUWH ZLH VLH GXUFK PHLQH 0DVNH DXI PHLQH HFKWH +DXW GUDQJ .DPLWDUD HUJULII HLQH 3LQ]HWWH XQG ]RJ GLH VFKZDU]H +DXW YRQ PHLQHP *HVLFKW 0LW HLQHP :DWWHEDXVFKUHLQLJWHHUPLU6WLUQ.LQQXQG:DQJHQ ³/DVKDW3RFNHQ´VWLHHUKHUYRU³6LHPVVHQHLQ]lKHU%XUVFKHVHLQZHQQ6LH GDUDQQLFKWJHVWRUEHQVLQG´ 'LH3LQ]HWWHNOLUUWHLQHLQHQ%HKlOWHU ³6LHVLQG7HNHQHU´ULHIHUEHUUDVFKW³$OVRVWLPPHQGLH*HUFKWHGRFKGD6LH IU GLH 862 DUEHLWHQ (V HKUW PLFK GD GHU /RUGDGPLUDO HLQHQ 0DQQ ZLH 6LH KLHUKHU VFKLFNW8PVRJU|HUZLUGPHLQ9HUJQJHQVHLQ6LHHLQELFKHQ]XYHUlQGHUQ´ (U EHUHLWHWH DOOHV IU HLQH ,QMHNWLRQ YRU 0HLQ 6FKLFNVDO HUVFKLHQ PLU LQ GLHVHP $XJHQEOLFNXQDEZHQGEDU ,FK K|UWH HLQ GXPSIHV *UROOHQ 'HU 5DXP LQ GHP LFK PLFK EHIDQG EHJDQQ ]X YLEULHUHQ'LH,QVWUXPHQWHGHV:LVVHQVFKDIWOHUVNOLUUWHQOHLVH
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³'HU 9XONDQ 6LFKHU KRIIHQ 6LH MHW]W GD GLH 1DWXU PLFK DQ PHLQHP 9RUKDEHQ KLQGHUQZLUG'RFKLFKPX6LHHQWWlXVFKHQ7HNHQHU+LHUVLQGZLULQ6LFKHUKHLW´ 'LH (UVFKWWHUXQJHQ QDKPHQ DQ +HIWLJNHLW ]X GRFK .DPLWDUD OLH VLFK QLFKW VW|UHQ (WZDV .KOHV SUHWH VLFK JHJHQ PHLQHQ $UP *OHLFK GDUDXI VWU|PWH N|USHUIUHPGH)OVVLJNHLWLQPHLQH9HQHQ ³,FK ZLOO 6LH QLFKW TXlOHQ PHLQ *XWHU´ VDJWH HU VDQIW ³6LH VROOHQ QLFKW EHL %HZXWVHLQVHLQZHQQLFKDQ,KQHQDUEHLWH´ 0HLQH*HGDQNHQYHUZLUUWHQVLFK ³9LHOOHLFKW KlWWHQ 6LH GHQ =HOODNWLYDWRU GRFK QRFK JHIXQGHQ´ K|UWH LFK LKQ QRFK VDJHQ GDQQ ZXUGH VHLQH 6WLPPH ]X HLQHP XQGHXWOLFKHQ *HPXUPHO ,FK YHUORU HQGJOWLJGDV%HZXWVHLQ $QDOOGDVNDQQLFKPLFKQRFKJHQDXHULQQHUQ :LHODQJHZDULFKEHZXWORV" :DVLVWLQ]ZLVFKHQJHVFKHKHQ" ,FKVSUHGDLFKQLFKWPHKUJHOlKPWELQDEHUGLH)HVVHOQKDOWHQPLFKDXIGHP 7LVFKIHVW6RZHLWLFKHUNHQQHQNDQQLVWPHLQbXHUHVXQYHUlQGHUW 0HLQH(UOHLFKWHUXQJGDUEHULVWMHGRFKQXUYRQNXU]HU'DXHU'HU.5$7$NDQQ MHGHQ$XJHQEOLFN]XUFNNHKUHQXPVHLQ:HUN]XYROOHQGHQ :RLVWHUEHUKDXSWXQGZDUXPKDWHUVHLQH$UEHLWXQWHUEURFKHQ" 1RFKLPPHUUHEHOOLHUWGHU9XONDQ6LQGGLHYRQGHQKHIWLJHQ%HEHQDXVJHO|VWHQ (UVFKWWHUXQJHQVFKXOGGD.DPLWDUDQLFKWKLHULVW" 9LHOOHLFKWLVWHUPLFKZLHGHUDXIGHU-DJGQDFKGHP$NWLYDWRU ,FKKDEHHLQH$WHPSDXVHEHNRPPHQ,UJHQGZLHPXLFKVLH]XPHLQHP9RUWHLO DXVQXW]HQ ,Q PHLQHQ *HKLUQ DUEHLWHW HV ILHEHUKDIW 6FKRQ GHQNH LFK ZLHGHU DQ GHQ =HOODNWLYDWRU XQG EHJLQQH 3OlQH ]X VFKPLHGHQ ZLH LFK LKQ LQ PHLQHQ %HVLW] EULQJHQ NDQQ0HLQ9HUVWDQGVDJWPLUGDVROFKHhEHUOHJXQJHQDQJHVLFKWVGHU/DJHLQGHULFK PLFK EHILQGH JHUDGH]X OlFKHUOLFK VLQG 'RFK PHLQH *HIKOH VLQG VWlUNHU ,QVWLQNWLY VSUHLFKGLH1lKHGHV*HUlWHV ,FKVSDQQHPHLQHQ.|USHUXQGGUFNHPLWDOOHU.UDIWJHJHQPHLQH)HVVHOQ6LH JHEHQQLFKWQDFK6LHEHZHJHQVLFKQLFKWHLQPDO 0LUZLUGNODUGDHLQ(QWNRPPHQXQP|JOLFKLVW 7URW]GHP XQWHUQHKPH LFK QRFK HLQ SDDU YHU]ZHLIHOWH 9HUVXFKH ELV LFK VFKOLHOLFKY|OOLJHUVFK|SIWDXIJHEH ,FKPXHVDQGHUVYHUVXFKHQ :HQQ .DPLWDUD ]XUFNNRPPW PX LFK LKQ EHUOLVWHQ -HW]W GD LFK QLFKW PHKU JHOlKPWELQXQGUHGHQNDQQNDQQLFKYLHOOHLFKWHLQH$UW$ENRPPHQPLWLKPWUHIIHQ 0HLQ 9HUVWDQG VDJW PLU GD GHU .5$7$ VLFK DXI QLFKWV HLQODVVHQ ZLUG GRFK JHIKOVPlLJ NODPPHUH LFK PLFK DQ GLH ,GHH GD HV NODSSHQ N|QQWH GHQ :LVVHQVFKDIWOHUXP]XVWLPPHQ ,FKOLHJHGDXQGK|UHGDV5XPRUHQGHV9XONDQV)UKHURGHUVSlWHUZLUGHUGHQ 3IURSIHQ GHU LQ VHLQHP +DOV VLW]W DXVVSHLHQ XQG XQV DOOH PLW VHLQHP *OXWKDXFK DXVO|VFKHQ 3O|W]OLFKK|UHLFKHLQ*HUlXVFK(VNRPPWYRQGRUWZRGHU(LQJDQJOLHJW 8QZLOONUOLFK]XFNHLFK]XVDPPHQ,FKK|UHOHLVH6FKULWWHGDQQIlOOWHLQ6FKDWWHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
DXIPLFK $EHUHVLVWQLFKWGHU6FKDWWHQGHV:LVVHQVFKDIWOHUV .HQQRQLVWGDXPPLFK]XUHWWHQ
³:RUDXIZDUWHVWGXQRFK"´IUDJWH7HNHQHU³%HIUHLHPLFK'HU.5$7$NDQQMHGHQ $XJHQEOLFN]XUFNNRPPHQ´ .HQQRQVFKLHQ]X]|JHUQ ³:DV LVW ORV"´ IXKU 7HNHQHU lUJHUOLFK IRUW ³:LOOVW GX PLFK HWZD KLHU OLHJHQ ODVVHQ"´ ³'UDXHQ LVW GLH +|OOH ORV´ HUNOlUWH .HQQRQ ³'HU JU|WH 7HLO GHU 6WDWLRQ OLHJW EHUHLWVLQ7UPPHUQXQGHVLVWQXUQRFKHLQH)UDJHGHU=HLWELVVLHHQGJOWLJLQVLFK ]XVDPPHQIlOOW ,FK JODXEH QLFKW GD GHU .5$7$ QRFK HLQPDO KLHUKHU ]XUFNNRPPW :DKUVFKHLQOLFK EHILQGHW HU VLFK LQ VHLQHU 7UDQVPLWWHUVWDWLRQ XQG EHUHLWHW VHLQH )OXFKW YRU´ ³1XQJXW´YHUVHW]WH7HNHQHU³7URW]GHPVROOWHVWGXPLFKMHW]WORVPDFKHQ´ 'HU0DQQPLWGHP5RERWN|USHUQLFNWHXQGVXFKWHGHQgIIQXQJVPHFKDQLV0XV ³:LHLFKVHKHKDVWGXDXHUGHLQHQ.OHLGHUQDXFKGHLQH0DVNHYHUORUHQ´ ³(U ZHL ZHU LFK ELQ´ EHULFKWHWH 7HNHQHU ³(U KDW Y|OOLJ GHQ 9HUVWDQG YHUORUHQ XQG ZROOWH PLFK IU HLQ ([SHULPHQW EHQXW]HQ ,FK NDQQ IURK VHLQ GD LFK LPPHU QRFK 5RQDOG7HNHQHUELQ´ ³%LVW GX GDV"´ IUDJWH .HQQRQ ZlKUHQG VHLQH +lQGH EHU HLQ SDDU 7DVWHQ GHU 6FKDOWDQODJH XQWHU GHP 7LVFK JOLWWHQ 'LH 0HWDOOIHGHUQ GLH 7HNHQHU IHVWKLHOWHQ JOLWWHQ ]XUFN 7HNHQHU ULFKWHWH VLFK DXI XQG ULHE VLFK $UPH XQG %HLQH .HQQRQ ZDUI LKP GLH .OHLGHU]XGLHDXIGHP%RGHQJHOHJHQKDWWHQ ³'DV LVW HLQ *HKHLPUDXP GHV .5$7$´ HUNOlUWH .HQQRQ ³6LFKHU JLEW HV LQ GHU 1lKHQRFKPHKUVROFKHU9HUVWHFNH:HQQZLUVLHILQGHQHQWGHFNHQZLUYLHOOHLFKWDXFK GHQ.5$7$´ 7HNHQHU VFKZDQJ GLH %HLQH YRP 7LVFK XQG VFKOSIWH KDVWLJ LQ VHLQH .OHLGHU :lKUHQGHUGLH-DFNHYHUVFKQUWHZDUIHU.HQQRQHLQHQIUDJHQGHQ%OLFN]X ³:DVLVWPLWGHP$NWLYDWRU"´ ³:HQQGXPHLQVWRELFKLKQJHIXQGHQKDEHQHLQ´ ³$EHUHUPXGRFKLUJHQGZRVHLQ´VWLHGHU6SLHOHUXQJHGXOGLJKHUYRU³:ROOHQ ZLUZDUWHQELVKLHUDOOHV]HUVW|UWLVW"'DQQZHUGHQZLULKQQLHPHKUILQGHQ´ ³+P´PDFKWH.HQQRQQDFKGHQNOLFK³:DVVFKOlJVWGXYRU"´ 7HNHQHUVWLHHLQH9HUZQVFKXQJDXV(UZXWHJHQDXGDVLHQLFKWVPHKUWXQ NRQQWHQ ³(VJLEWQRFKHLQH0|JOLFKNHLW¶PHLQWH.HQQRQ³'HU.5$7$MDJWVHLWHOI-DKUHQ KLQWHU GLHVHP $NWLYDWRU KHU (U PX PHKU EHU GLH (LJHQDUWHQ GLHVHV *HUlWHV ZLVVHQ DOV ZLU (U ZHL GD VHLQH &KDQFH GHQ $NWLYDWRU QRFK ]X ILQGHQ VHKU JHULQJ LVW 'HVKDOE OLH HU XQV HLQLJH =HLW XQEHKHOOLJW (V LVW P|JOLFK GD ZLU PLW LKP HLQ $ENRPPHQVFKOLHHQN|QQHQ´ ³0LW HLQHP :DKQVLQQLJHQ"´ HUHLIHUWH VLFK 7HNHQHU ³,FK GHQNH QLFKW GDUDQ (U ZLUG VLFK DQ NHLQH $EPDFKXQJ KDOWHQ 6REDOG ZLU GHQ $NWLYDWRU KDEHQ ZLUG HU LKQ DQ VLFKQHKPHQXQGXQVW|WHQ´
-lJHUGHU8QVWHUEOLFKNHLW
]X LVW´
M
$WODQ
.HQQRQDQWZRUWHWHQLFKW(UGDFKWHLQWHQVLYQDFK'DQQQLFNWHHUVHLQHP3DUWQHU ³.RPP´ULHIHULKP]X³:LUPVVHQGLHVHQ9HUUFNWHQILQGHQEHYRUHV]XVSlW
6LH YHUOLHHQ GDV JHKHLPH /DERU GHV :LVVHQVFKDIWOHUV XQG NHKUWHQ LQ GLH 5lXPH]XUFNGLHDXFKYRQGHQ.UDWDPRQHQEHWUHWHQZHUGHQNRQQWHQ$EHUYRQGHQ +HOIHUQ GHV .5$7$6 ZDU QLFKWV PHKU ]X VHKHQ 6LH ZDUHQ XQWHU GHQ 7UPPHUQ EHJUDEHQRGHUJHIORKHQ 9RUHLQHP]XVDPPHQJHEURFKHQHQ*DQJEOLHE.HQQRQVWHKHQ ³$XV´ NRPPHQWLHUWH 7HNHQHU ³'D NRPPHQ ZLU QLFKW ZHLWHU 'X N|QQWHVW HV YLHOOHLFKWVFKDIIHQ²LFKQLFKW´ ³,UJHQGZR LQ GHU 1lKH H[LVWLHUW HLQ VHKU JURHU +RKOUDXP´ DQWZRUWHWH .HQQRQ RKQH DXI 7HNHQHUV %HPHUNXQJ HLQ]XJHKHQ ³,FK QHKPH DQ GD HV GLH 7UDQVPLWWHUVWDWLRQGHV9HUEUHFKHUVLVW9RQGRUWJHKHQVWDUNH(QHUJLHLPSXOVHDXVGLH PLFKYHUPXWHQODVVHQGDGHU7UDQVPLWWHUDQJHODXIHQLVW´ 7HNHQHU EOLFNWH VLFK XP (U VDK EHUDOO QXU 7UPPHU XQG HLQJHVWU]WH *lQJH 6LH ZDUHQ HLQ 9RUWHLO GHQQ VLH ELOGHWHQ MHW]W HLQH $UW 6FKXW]ZDOO XP VHLQH ZLFKWLJVWH 6WDWLRQ ³(LQVWlKOHUQHV5LHVHQHL´PXUPHOWH.HQQRQ³(VOLHJW PLWWHQLQGHU6WDWLRQXQG LVWGLHOHW]WH=XIOXFKWGHV.5$7$´ 7HNHQHUYHUVWDQGZDVVHLQ)UHXQGPHLQWH ³'X PXW GLU HLQHQ KDOEZHJV VLFKHUHQ 3ODW] VXFKHQ´ IRUGHUWH .HQQRQ GHQ 6SLHOHUDXI³,FKZHUGHLQ]ZLVFKHQYHUVXFKHQLQGLH7UDQVPLWWHUVWDWLRQHLQ]XGULQJHQ´ ³,FKEOHLEHGLFKWEHLGLU´VDJWH7HNHQHUHQWVFKORVVHQ³'DV5LVLNRJHKHLFKHLQ´ ³0HLQHWZHJHQ´ .HQQRQ VWUHFNWH GLH $UPH DXV XQG ZKOWH VLFK LQ 6HNXQGHQVFKQHOOH GXUFK GLH 7UPPHU HLQHU ]XVDPPHQJHEURFKHQHQ :DQG 'LH %UXFKVWFNH UXWVFKWHQ KLQWHU LKP ZLHGHU LQ VLFK ]XVDPPHQ 7HNHQHU EHNDP HLQHQ 6FKODJ JHJHQ GLH %UXVW (U ]RJ GHQ .RSI ]ZLVFKHQ GLH 6FKXOWHUQ XQG VSUDQJ KDVWLJ ZLHGHU]XUFN ³:DUWH´ULHIHU³,FKNRPPHQLFKWPLW´ 'RFK DOOHV ZDV HU ]X K|UHQ EHNDP ZDU GHU /lUP GHQ .HQQRQ EHL VHLQHP 9RUGULQJHQYHUXUVDFKWH'HU6PLOHUVWLHHLQH9HUZQVFKXQJDXV'DVVDKGHP*HKLUQ lKQOLFKVHLQH$QVLFKWHQDXIGLHVH:HLVHGXUFK]XVHW]HQ 7HNHQHU IKOWH VLFK UDWORV (U NRQQWH MHW]W QXU ZDUWHQ GD .HQQRQ ]XUFNNDP XPLKQ]XKROHQ (WZDV EHUKUWH LKQ DQ GHU 6FKXOWHU (U IXKU KHUXP DEHU HV ZDU QXU %LJ %HQ 6SHFLDO GHU DXI LKP JHODQGHW ZDU 'HU 6FKXW]DQ]XJ GHV 6LJDQHVHQ ZDU PLW 6WDXE EHGHFNW 'DV0lQQFKHQJULQVWH7HNHQHUDQ ³6LHKDEHQVLFKYHUlQGHUW7HNHQHU´ ³-D´EUXPPWH7HNHQHUlUJHUOLFK³(VZXQGHUWPLFKGD6LHHVPHUNHQ´ %LJ %HQ 6SHFLDO K|UWH GHQ /lUP GHQ .HQQRQ PDFKWH XQG GHXWHWH DXI GLH 7UPPHUEHUJH ³:DVLVWGDV"´ ³:HULVWGDV"´YHUEHVVHUWHLKQ7HNHQHU³.HQQRQ´ %LJ%HQIORJORV
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³:DUWHQ6LH´ULHI7HNHQHU³:DVVROOLFKDOOHLQXQWHUQHKPHQ"´ 'RFKGHUZLQ]LJH8PZHOWDQJHSDWHZDUVFKRQLP7UPPHUEHUJYHUVFKZXQGHQ XQGIROJWH.HQQRQ 'HU%RGHQZXUGHZLHGHUVFKZHUHUVFKWWHUW7HLOHGHU'HFNHEU|FNHOWHQKHUDE +DVWLJVXFKWH7HNHQHU6FKXW]XQWHUHLQHPXPJHVWU]WHQ6RFNHO3O|W]OLFKK|UWHHUHLQ VFKQIIHOQGHV *HUlXVFK (U ULFKWHWH VLFK DXI XQG EOLFNWH EHU GHQ 6RFNHO 'XUFK HLQ PHWHUJURHV /RFK DXI GHU JHJHQEHUOLHJHQGHQ 6HLWH GHV 5DXPHV NDP HLQH ZLGHUOLFK DXVVHKHQGH .UHDWXU KHUHLQJHNURFKHQ ,KU ERUVWLJHV )HOO ZDU YRQ 'UHFN YHUNOHEW 6LH EHVDVHFKVGLFNH6WXPPHOEHLQHXQGHLQHQHUVFKUHFNHQGPHQVFKHQlKQOLFKHQ.RSI ³%HLDOOHQ3ODQHWHQ´HQWIXKUHV7HNHQHU³:DVLVWGDV"´ (U HULQQHUWH VLFK GDUDQ GD .DPLWDUD LQ GLHVHU 6WDWLRQ 7UDQVSODQWDWLRQHQ GXUFKJHIKUWKDWWH'LH.lILJHVHLQHU³6FK|SIXQJHQ´ZDUHQGXUFK GLH(UVFKWWHUXQJHQ DXIJHVSUXQJHQ 1XQ LUUWHQ HLQ SDDU GLHVHU VFKUHFNOLFKHQ :HVHQ GXUFK GLH ]HUVW|UWH 6WDWLRQ :LHGHUVFKQIIHOWHGDV:HVHQ(VVFKLHQHLQHU6SXU]XIROJHQ (V KDW PLFK JHZLWWHUW GlFKWH 7HNHQHU HQWVHW]W (U OLH VLFK ZLHGHUKLQWHU GHQ 6RFNHOVLQNHQXQGVXFKWHQDFKHLQHP0HWDOOVWDEGHQHUDOV:DIIHYHUZHQGHQNRQQWH 'DV6FKQIIHOQNDPQlKHU7HNHQHUXPNODPPHUWHGHQ0HWDOOVWDEIHVWHU ³.HQ´VFKULHHUVRODXWHUNRQQWH³.RPP]XUFN.HQ´ 'HU 9XONDQ EHJDQQ IDVW JOHLFK]HLWLJ ]X JUROOHQ XQG EHUW|QWH VHLQH :RUWH $XI GHU DQGHUHQ 6HLWH GHV 6RFNHOV ULFKWHWH VLFK GDV 8QJHKHXHU DXI XQG VWDUUWH ]X LKP KHUEHU (V VDK PRUGJLHULJ DXV (LQH :HLOH VWDUUWHQ VLFK 7HNHQHU XQG GDV 0RQVWUXP DQ 'DQQVDJWHGDV'LQJLQNDXPYHUVWlQGOLFKHP,QWHUNRVPRXQGPLWHLQHU6WLPPH GLH LUJHQGZR KLQWHU GHP 1DNNHQ KHU]XNRPPHQ VFKLHQ ³7|WHQ 6LH PLFK ,FK IOHKH 6LH DQ²W|WHQ6LHPLFK´
0LWHLQHP7ULWWEHI|UGHUWH.HQQRQHLQ]HQWQHUVFKZHUHV7UPPHUVWFN]XU6HLWH 'DPLW ZDU GDV OHW]WH +LQGHUQLV =XU 6HLWH JHUlXPW .HQQRQ VWDQG YRU GHU HLJHQWOLFKHQ :DQGGHU7UDQVPLWWHUVWDWLRQ(UWUDWHLQHQ6FKULWW]XUFNXQGZDUIVLFKGDJHJHQ(VZDU LKPJOHLFKJOWLJREGHU.5$7$ZHQQHUVLFKDXIGHUDQGHUHQ6HLWHEHILQGHQVROOWHLKQ K|UHQNRQQWH (VJDEHLQGU|KQHQGHV*HUlXVFK'LH:DQGEHUHLWVGXUFKGLH(UVFKWWHUXQJHQ GHU 3ODQHWHQREHUIOlFKH DXV LKUHQ 9HUDQNHUXQJHQ JHO|VW JDE QDFK XQG VDQN ODQJVDP LQV ,QQHUH GHU 6WDWLRQ .HQQRQ NODPPHUWH VLFK DQ HLQHP 9RUVSUXQJ IHVW 7UPPHU UXWVFKWHQEHULKQKLQZHJ6HLQ.|USHUJHZLFKWGUFNWHGLH:DQGHQGJOWLJQDFKXQWHQ $XI GHU QLHGHUVLQNHQGHQ :DQG OLHJHQG UXWVFKWH .HQQRQ LQ GLH 7UDQVPLWWHUVWDWLRQGHV%LRFKHPLNHUV(UEOLFNWHLQHLQHJURHKHOOEHOHXFKWHWH+DOOHLQ GHUHQ =HQWUXP HLQ NOHLQHU 7UDQVPLWWHU VWDQG 'LH (QHUJLHVlXOHQ KDWWHQ VLFK EHU GHP (LQJDQJ ]X HLQHP VWUDKOHQGHQ 7RUERJHQ JHVFKORVVHQ 'HU 7UDQVPLWWHU ZDU VHQGHEHUHLW,P+LQWHUJUXQGVWDQGGLH6FKDOWXQG(QHUJLHVWDWLRQ:LH.HQQRQYHUPXWHW KDWWH EHVD GHU 7UDQVPLWWHU HLQH YRQ GHQ (QHUJLHTXHOOHQ GHU 6WDWLRQ XQDEKlQJLJH 9HUVRUJXQJVDQODJH 'HU.5$7$VWDQGHLQSDDU0HWHUYRP7UDQVPLWWHUHLQJDQJHQWIHUQW(UKLHOWHLQH
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
0HWDOONLVWH LQ GHQ +lQGHQ XQG VWDUUWH .HQQRQ DQ ZLH HLQH (UVFKHLQXQJ $QVFKHLQHQG ZDUHUJHUDGHLP%HJULIIJHZHVHQPLWGHU.LVWHLQGHQ7UDQVPLWWHU]XJHKHQ :lKUHQG .HQQRQ VLFK DXIULFKWHWH QDKP HU EOLW]VFKQHOO DOOH DQGHUHQ 'LQJH GLH VLFK LQ GHU 6WDWLRQ EHIDQGHQ LQ GLH :LVVHQVVSHLFKHU VHLQHV XQJHZ|KQOLFKHQ *HKLUQV DXI 'HU.5$7$VFKLHQDOOH6FKlW]HGLHLKPZLFKWLJZDUHQKLHU]XVDPPHQJHWUDJHQ ]X KDEHQ hEHUDOO VWDQGHQ .LVWHQ XQG DQGHUH %HKlOWHU 'LH 5HJDOH DQ GHQ :lQGHQ ZDUHQEHUIOOW .HQQRQNRPELQLHUWHEOLW]VFKQHOO'HU:DKQVLQQLJHYHUVXFKWH]XUHWWHQZDVQRFK ]X UHWWHQ ZDU 2IIHQEDU ZDU .DUQLWDUD VFKRQ HLQ SDDUPDO GXUFK GHQ 7UDQVPLWWHU JHJDQJHQXQGKDWWHZHUWYROOH*HJHQVWlQGHKLQDXVJHVFKDIIW 'HU 8626SH]LDOLVW IUDJWH VLFK ZR GLH *HJHQVWDWLRQ OLHJHQ PRFKWH :DKUVFKHLQOLFK EHIDQG VLFK GHU (PSIDQJVWUDQVPLWWHU HEHQIDOOV DXI .KD]D 'DV EHGHXWHWHGDGHU.5$7$HLQH]ZHLWHZLFKWLJH6WDWLRQDXIGLHVHU:HOWEHVD .DPLWDUDOlFKHOWHSO|W]OLFKXQGVSUDQJDXIGHQ7UDQVPLWWHU]X %HYRU .HQQRQ LKQ HUUHLFKWH ZDU HU HQWPDWHULDOLVLHUW .DXP ZDU GDV *OKHQ LQ GHUGXQNOHQgIIQXQJGHV7UDQVPLWWHUVHUORVFKHQDOV.HQQRQVLFKLQGLHgIIQXQJZDUI (U ZXWH GD HU HLQ JURHV 5LVLNR HLQJLQJ GHQQ GHU .5$7$ ZUGH PLW HLQHU 9HUIROJXQJ UHFKQHQ 'DV ZDU .HQQRQV OHW]WHU*HGDQNHEHYRUHUHQWPDWHULDOLVLHUWXQG GXUFKGDV1LFKWVJHVFKOHXGHUWZXUGH
7HNHQHU VWDUUWH GDV 0RQVWUXP HQWVHW]W DQ (U ZDU XQIlKLJ LUJHQG HWZDV ]X VDJHQ1XUODQJVDPZXUGHLKPEHZXWGDGLH.UHDWXULKQQLFKWDQJUHLIHQZROOWH'DV YHU]ZHLIHOWH :HVHQ VXFKWH GHQ 7RG (V ZXWH GD HV EHL VHLQHP $XVVHKHQ NHLQH &KDQFHPHKUKDEHQZUGHLUJHQGZRHLQQRUPDOHV/HEHQ]XIKUHQ 7HNHQHUEHJDQQ]X]LWWHUQ :DUGDV'LQJHLQ0HQVFK" ³%LWWH´VWLHGDV0RQVWUXPKHUYRU³0DFKHQ6LHHVVFKQHOO´ 7HNHQHUOLHGLH$UPHVLQNHQ ³,FKKDEHNHLQH:DIIH´VDJWHHUKLOIORV³,FKZHLDXFKQLFKWRELFKHVN|QQWH´ 'LH XQJOFNOLFKH .UHDWXU OLH VLFK EHU GHQ 6RFNHO VLQNHQ XQG EHJDQQ ]X VFKOXFK]HQ ,Q GLHVHP $XJHQEOLFN HQWVWDQG LP +LQWHUJUXQG HLQ QHXHV *HUlXVFK 7HNHQHU YHUQDKP GDV 6FKOHLIHQ YRQ VFKZHUIlOOLJHQ )HQ DXI GHP %RGHQ (U IXKU KHUXP XQG VDK HLQHQ DOWHQ 0DQQ GXUFK GLH 7UPPHU NULHFKHQ 'HU 0DQQ KLHOW HLQHQ 6WUDKOHQNDUDELQHULQGHQ+lQGHQXQGEOLFNWH]XLKQHQKHUEHU7HNHQHUVDKVRIRUWGD HUNHLQHQ.UDWDPRQHQYRUVLFKKDWWH'HU)UHPGHVDKZLHHLQ7HUUDQHUDXV 7HNHQHUIUDJWHVLFKZLHGHU0DQQKLHUKHUNDP 'HU8QEHNDQQWHULFKWHWHVLFKDXI6HLQ*HVLFKWZDUHLQJHIDOOHQVHLQ$WHPJLQJ VWRZHLVH:HQQHUVLFKEHZHJWH]RJHUHLQ%HLQQDFK6HLQH$XJHQJOlQ]WHQZLHLP )LHEHU (ULVWZDKQVLQQLJGDFKWH7HNHQHU6HLQ.|USHUVSDQQWHVLFK 'HU)UHPGHKREGLH:DIIHXQGULFKWHWHVLHDXI7HNHQHUXQGGDV0RQVWUXPGDV LKQQRFKQLFKWEHPHUNWKDWWH
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³:HUVLQG6LH"´ULHI7HNHQHULQ,QWHUNRVPR 'HU0DQQVFKZDQNWHDXILKQ]X ³,FK ELQ 'LOJHU ,FK EULQJH DOOH GLHVH YHUGDPPWHQ .UHDWXUHQ XP GLH ZLU JHVFKDIIHQKDEHQ (U JDE HLQHQ 6FKX DE 'HU (QHUJLHVWUDKO ERKUWH VLFK LQ GHQ 6RFNHO OLH LKQ DXIJOKHQ XQG ]HUEU|FNHOQ 7HNHQHU VDK ZLH GDV 0RQVWUXP DXI GHQ %RGHQ UXWVFKWH XQGOLHJHQEOLHE :LHGHUIHXHUWH'LOJHU ³$XIK|UHQ´VFKULH7HNHQHU³6LHVLQGMDZDKQVLQQLJ´ 'LOJHUV*HVLFKWYHU]RJVLFK(UEHJDQQ]XZHLQHQXQGJDEHLQH6HULHXQJH]LHOWHU 6FKVVHDE6LHIXUFKWHQGHQ%RGHQDXIXQGERKUWHQVLFKKLQWHU7HNHQHULQ:lQGHXQG 7UPPHUEHUJH 7HNHQHUZDUIVLFK]X%RGHQXQGNURFKKDVWLJGDYRQ (LQKHIWLJHV%HEHQHUVFKWWHUWHGLH+DOOH'LOJHUVFKZDQNWHDEHUHUVFKRQRFK LPPHU 7HNHQHU VSUDQJ DXI XQG UDQQWH LQ JHGXFNWHU +DOWXQJ DXI LKQ ]X (U ZDUI VLFK JHJHQ LKQ 'LOJHU NQLFNWH HLQ XQG JDE HLQ VHXI]HQGHV *HUlXVFK YRQ VLFK DOV GLH /XIW DXVVHLQHQ/XQJHQJHSUHWZXUGH'DV6WUDKOHQJHZHKUVFKOXJPLWHLQHP.QDOOJHJHQ GHQ %RGHQ 7HNHQHU UROOWH VLFK DXI 'LOJHU XQG YHUVHW]WH LKP HLQHQ 6FKODJ KLQWHU GDV 2KU'LOJHUV.|USHUZXUGHVFKODII 7HNHQHUULGLH:DIIHDQVLFKXQGHUKREVLFK(UVDKGDGDV0RQVWUXPQLFKW PHKU DP /HEHQ ZDU $XI GHU DQGHUHQ 6HLWH GHV 5DXPHV ZDU GLH 'HFNH KHUDEJHEURFKHQ XQG KDWWH GDV XQJOFNOLFKH :HVHQ XQWHU VLFK EHJUDEHQ +RFK EHU 7HNHQHUYHUOLHIHQYHUERJHQH7UlJHUXQGHLQDXIJHVSDOWHQHV'DFKGXUFKGDV7DJHVOLFKW VFKLPPHUWH (QWVFKORVVHQ ZDQGWH VLFK 7HNHQHU GHP 7UPPHUEHUJ ]X LQ GHP .HQQRQ XQG %LJ%HQ6SHFLDOYHUVFKZXQGHQZDUHQ(UEHVDMHW]WHLQH:DIIHPLWGHUHQ+LOIHHUVLFK HLQHQ:HJEDKQHQNRQQWH2KQH]X]|JHUQEHJDQQHU]XVFKLHHQ,QQHUKDOENXU]HU =HLWHQWVWDQGHLQ'XUFKJDQJ7HNHQHUGUDQJELV]XHLQHUXPJHVWU]WHQ:DQGYRUXQG EOLFNWHLQHLQHQ5DXPLQGHVVHQ0LWWHOSXQNWHLQ7UDQVPLWWHUVWDQG (U VDK %LJ %HQ 6SHFLDO DXI VLFK ]XIOLHJHQ 'HU 6LJDQHVH ODQGHWH DXI VHLQHU 6FKXOWHU ³:LUVLQG]XVSlWJHNRPPHQ´HUNOlUWHGHU8PZHOWDQJHSDWH³'HU.5$7$XQG .HQQRQVLQGEHUHLWVGXUFKGHQ7UDQVPLWWHUYHUVFKZXQGHQ´ ³:LUIROJHQLKQHQ´HUNOlUWH7HNHQHU ³'DVLVWXQP|JOLFK´'HU6LJDQHVHKLHOWVLFKDQ7HNHQHUV2KUOlSSFKHQIHVW³'HU 7UDQVPLWWHUZXUGHYRQGHU*HJHQVWDWLRQDXVJHVFKDOWHW(UOlWVLFKYRQKLHUDXVQLFKW PHKUDNWLYLHUHQ´ 7HNHQHU XQWHUGUFNWH HLQHQ )OXFK 'DV KDWWH HU QLFKW HUZDUWHW 1XQ ZDU HU YRQ .DPLWDUDXQGVHLQHP3DUWQHUDEJHVFKQLWWHQ ³(V VLHKW VFKOHFKW IU XQV DXV´ JHVWDQG %LJ %HQ ³'LH 6WDWLRQ NDQQ MHGHQ $XJHQEOLFNKRFKJHKHQ:LUKDEHQNHLQH&KDQFHYRQKLHU]XHQWNRPPHQ´ 7HNHQHUVDKLKQDQ ³'DV VWLPPW QLFKW JDQ] %LJ %HQ 6LH EHVLW]HQ HLQ )OXJDJJUHJDW XQG N|QQHQ HQWNRPPHQ´ ³+P´PDFKWHGHUZLQ]LJH6SH]LDOLVWYHUOHJHQ ³6LH ZHUGHQ GLHVH 6WDWLRQ MHW]W YHUODVVHQ XQG VLFK LQ 6LFKHUKHLW EULQJHQ´ ULHI
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
7HNHQHU 'HU8PZHOWDQJHSDWH]|JHUWH ³'DVLVWHLQ%HIHKO´KHUUVFKWH7HNHQHULKQDQ :RUWORVIORJ%LJ%HQ6SHFLDOGDYRQ 7HNHQHUEHWUDWGHQ5DXPLQGHPVLFKGHU7UDQVPLWWHUEHIDQG+LHUZDUHUQRFK HLQLJHUPDHQ VLFKHU $EHU DXFK GLHVH 6LFKHUKHLW ZDU IUDJZUGLJ GHQQ DXFK GHU 7UDQVPLWWHUZUGHHLQHUDOOJHPHLQHQ9HUQLFKWXQJQLFKWHQWJHKHQ .HQQRQ (V JLEW 0HQVFKHQ GLH JODXEHQ GD HLQ 0DQQ YRQ GHVVHQ XUVSUQJOLFKHP .|USHU QXU GDV *HKLUQ EULJJHEOLHEHQ LVW NHLQH 6FKPHU]HQ VSUHQ N|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³.RPPHQ6LHODQJVDPDXVGHP7UDQVPLWWHUEHUHLFK´EHILHKOWHUUXKLJ³6LHZDUHQ YHUUFNWPLU]XIROJHQ´ ,FK DQWZRUWHWH QLFKW =XQlFKVW PX LFK PLU GDUEHU NODUZHUGHQ RE HU PHLQH ,GHQWLWlWNHQQW:HQQHUPLFKIUHLQHQQRUPDOHQ0HQVFKHQKlOWKDEHLFKHLQH&KDQFH LKQ]XEHUUXPSHOQ,FKEHIUFKWHMHGRFKGDHUPHLQH0DVNHGXUFKVFKDXWKDW /DQJVDP HQWIHUQH LFK PLFK YRQ GHP 7UDQVSRUWHU 0HLQH NQVWOLFKHQ 6LQQHVRUJDQH KDEHQ VLFK DQ GLH +HOOLJNHLW JHZ|KQW ,FK HUNHQQH DOOPlKOLFK (LQ]HOKHLWHQ'HUGXPSIH'UXFNLQPHLQHP*HKLUQOlWQDFK ,FK EHILQGH PLFK LQ HLQHU +DOOH PLW UXQGHP 4XHUVFKQLWW 'LH 6WDWLRQ OLHJW KRFK EHUGHQGDPSIHQGHQ6PSIHQGLHVLFKELV]XP+RUL]RQWHUVWUHFNHQ %LVDXIGHQ7UDQVPLWWHUJLEWHVLQGLHVHU+DOOHNHLQHWHFKQLVFKHQ(LQULFKWXQJHQ 'LH (QHUJLHVWDWLRQ GUIWH VLFK LQ 5lXPHQ GDUXQWHU EHILQGHQ +LHU JLEW HV NHLQH =HUVW|UXQJHQXQGNHLQH%HEHQ'DVEHGHXWHWGDZLUZHLWYRQGHU9XONDQLQVHOHQWIHUQW VLQG +LQWHUPLUEULFKWGHUHQHUJHWLVFKH7RUERJHQGHV7UDQVPLWWHUVLQVLFK]XVDPPHQ 'HU.5$7$ODFKWDXI ³6LHN|QQHQQLFKWPHKU]XUFN´ ,FKK|UHNDXP]X (WZDVDQGHUHVEHDQVSUXFKWPHLQH$XIPHUNVDPNHLW8QJOlXELJUHJLVWULHUHLFKGLH 6LJQDOHGLHYRQPHLQHP2UWXQJV]HQWUXPDXIJHIDQJHQZHUGHQ 'LH,PSXOVHGHV=HOODNWLYDWRUVNRPPHQDXVXQPLWWHOEDUHU1lKH ,FKODXVFKHLQPLFKKLQHLQ (LQ,UUWXPLVWDXVJHVFKORVVHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
:LHLVWGDVP|JOLFK" ,VWDOOHVHLQZLOGHU6SXN" ,FK EHUOHJH RE DXFK GHU .5$7$ GDYRQ ZHL (V LVW DQ]XQHKPHQ GHQQ HU YHUIJWEHUKRFKZHUWLJH2UWXQJVJHUlWH $OVKDEHHUPHLQH*HGDQNHQHUUDWHQVDJWGHU.5$7$³:DKUVFKHLQOLFKZLVVHQ 6LHGDGLH,PSXOVHGHV=HOODNWLYDWRUVMHW]WYRQGLHVHU6WDWLRQDXVJHKHQ´ ,FK VHKH NHLQHQ *UXQG HV ]X OHXJQHQ GHVKDOE QLFNH LFK ODQJVDP $XI GLHVH :HLVHNDQQLFKKRIIHQZHLWHUH,QIRUPDWLRQHQ]XEHNRPPHQ ³'LH 6LJQDOH NRPPHQ YRQ EHUDOO KHU´ IlKUW HU IRUW ³,FK ELQ LKQHQ VFKRQ TXHU EHUGLHVHQ3ODQHWHQQDFKJHMDJWhEHUDOON|QQHQGLHVH,PSXOVHDXIWDXFKHQDEHUGDV OHEHQVZLFKWLJH*HUlWKDEHLFKQRFKQLHPDOVJHVHKHQ´ ,FKIDQJHDQLKQ]XYHUVWHKHQ(UPXWDWVlFKOLFKKDOEZDKQVLQQLJVHLQZHQQHU DXI GLHVH :HLVH VHLW -DKUHQ JHKHW]W ZLUG ,PPHU KDW HU GDV =LHO GLFKW YRU GHQ $XJHQ RKQHHVMHPDOV]XHUUHLFKHQ(LQPRGHUQHU6LV\SKXV ³6LH ZHUGHQ GLHVHV *HUlW QLHPDOV EHNRPPHQ´ SURSKH]HLH LFK ³'LH =HLW ,KUHU +HUUVFKDIW LVW YRUEHU ,KUH 6WDWLRQ LVW ]XP 8QWHUJDQJ YHUXUWHLOW *HEHQ 6LH DXI .DPLWDUD´ 6HLQ*HVLFKWYHU]HUUWVLFK0HLQH:RUWHPDFKHQLKQZLOG,FKPXDXISDVVHQLQ GLHVHP =XVWDQG LVW HU XQEHUHFKHQEDU :HQQ HU GHQ 5RERWHUQ 6FKLHEHIHKO JLEW XQG VHOEVW]XIHXHUQEHJLQQWELQLFKWURW]PHLQHU6FKXW]VFKLUPHLQ*HIDKU ³,FKZUGH6LHVRIRUWW|WHQZHQQLFKQLFKWDQGHUH3OlQHPLW,KQHQKlWWH´VFKUHLW GHU.5$7$(UZLQNWPLWGHU:DIIH³'RUWKLQEHU´ ,FKEHZHJHPLFKZLGHUVSUXFKVORVLQGLHDQJHJHEHQH5LFKWXQJ ³'UHKHQ 6LH VLFK XP´ EHILHKOW HU ³+LQWHU ,KQHQ EHILQGHW VLFK HLQH 7U 6LH LVW RIIHQ6LHZHUGHQYRUOlXILJLQGLHVHP5DXPEOHLEHQ´ ,FK|IIQHGLH7UGLHHUPLUJH]HLJWKDWXQGEOLFNHLQHLQHQTXDGUDWLVFKHQNOHLQHQ 5DXP RKQH MHGH (LQULFKWXQJVJHJHQVWlQGH :RUWORV WUHWH LFK HLQ 'HU .5$7$ LVW VLFK RIIHQEDUQLFKWGDUEHULPNODUHQGDLFKMHGHU]HLWYRQKLHUHQWNRPPHQNDQQ ,FKIUDJHPLFKZDVHUYRUKDW :LOOHUQRFKHLQPDOLQGLH6WDWLRQDXIGHU9XONDQLQVHO]XUFNNHKUHQ" (UZLUIWGLH7U]X ,FKELQDOOHLQ ,FK RUWH QHXH (QHUJLHLPSXOVH 'HU .5$7$ KDW LUJHQGHLQH (QHUJLHTXHOOH HLQJHVFKDOWHW$XFKGLH,PSXOVHGHV=HOODNWLYDWRUVVLQGQDFKZLHYRU]XVSUHQ ,FK ZDUWH HLQ SDDU 0LQXWHQ GDQQ WUHWH LFK DQ GLH KLQWHUH :DQG PHLQHV *HIlQJQLVVHVXQGQHKPHHLQHQNXU]HQ$QODXI:HQQGHU.5$7$VLFKQRFKLQQHUKDOE GHV 5DXPHV EHU GHU 6XPSI/DQGVFKDIW DXIKlOW ZLUG HU EHUUDVFKW VHLQ XQG QLFKW VFKQHOOJHQXJUHDJLHUHQN|QQHQ$EHULFKELQIDVWVLFKHUGDHUGLH6WDWLRQYHUODVVHQ KDW 1XU GHVKDOE KDW HU PLFK KLHU HLQJHVSHUUW 'LH QHX DXIJHWUHWHQHQ (QHUJLHLPSXOVH ZHUGHQ DOOPlKOLFK VFKZlFKHU 'HU .5$7$ LVW ]X HLQHP QHXHQ =LHO XQWHUZHJV ,FK QHKPHDQGDHUZLHGHU-DJGDXIGHQ=HOODNWLYDWRUPDFKW
.HQQRQZDUIVLFKPLWGHUYROOHQ:XFKWVHLQHV.|USHUVJHJHQGLH7U6LHEDUVW DXVLKUHQ9HUDQNHUXQJHQXQGNUDFKWHDXIGHQ%RGHQ2KQH]X]|JHUQVWUPWH.HQQRQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
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lFKHOQ 'HU .5$7$ UHFKQHWH EHVWLPPW QLFKW GDPLW GD LKQ VHLQ *HIDQJHQHU YHUIROJHQ ZUGH 'HU8626SH]LDOLVWNOHWWHUWHDXIGLH3ODWWIRUPKLQDXV'DQQ]|JHUWHHU9LHOOHLFKW NRQQWHHUGHQ7UDQVPLWWHUMXVWLHUHQXQG]XU9XONDQLQVHO]XUFNNHKUHQ 'RFK GD]X ZDU DXFK QRFK VSlWHU =HLW (U ZROOWH MHW]W HUVW HLQPDO KHUDXVILQGHQ ZRKLQGHU.UDWDVLFKJHZDQGWKDWWH (U IORJ ORV 'LH 6LFKW ZDU VFKOHFKW GHQQ EHUDOO VWLHJHQ KHLH 'lPSIH DXI ,P 6XPSIVFKLHQHVNHLQ/HEHQ]XJHEHQ1XUGDV%URGHOQKHLHU4XHOOHQZDU]XK|UHQ 1DFK HLQLJHU =HLW HPSILQJ .HQQRQ ZLHGHU GLH (QHUJLHLPSXOVH (U QlKHUWH VLFK GHP :LVVHQVFKDIWOHU 1XQ NRQQWH HU VLFK OHLFKW RULHQWLHUHQ $XFK GLH ,PSXOVH GHV =HOODNWLYDWRUV ZXUGHQ GHXWOLFKHU 'DV *HUlW VFKLHQ VLFK LPPHU LQ XQPLWWHOEDUHU 1lKH .DPLWDUDV]XEHILQGHQ'DVNRQQWHHLQ=XIDOOVHLQ:DKUVFKHLQOLFKHUMHGRFKZDUGDHV VLFKXPHLQHQGHUVFKOHFKWHQ6FKHU]HYRQ(6KDQGHOWH 6FKUlJXQWHUVLFKHQWGHFNWH.HQQRQHLQ0HWDOOJHUVW(VVWDQGPLWWHQLP6XPSI DP 5DQG HLQHU JU|HUHQ ,QVHO $XI GHQ REHUHQ *HUVWVWDQJHQ ZDUHQ )HOGSURMHNWRUHQ DQJHEUDFKW ,QGHU0LWWHGHV*HUVWVKLQJHLQVFKZHUHU%RKUHU.HQQRQVDKGDLP%RGHQ HLQH *UXEH HQWVWDQGHQ ZDU GHUHQ :lQGH PLW 0HWDOOSODWWHQ DEJHGHFNW ZXUGHQ ,Q GHU *UXEH VWDQG .DPLWDUD (U KDWWH +DQGVFKXKH DQJH]RJHQ XQG KDQWLHUWH PLW HLQHU $UW 6RQGHGLHHULQ%RGHQ|IIQXQJHQVFKRE .HQQRQIORJJHQDXEHUGHQ$UEHLWVSODW]GHV:LVVHQVFKDIWOHUVXQGEOLFNWHKLQDE (UZXWHZDV.DPLWDUDDQGLHVHU6WHOOHLQWHUHVVLHUWH 'RUWXQWHQZDUHQGLH,PSXOVHGHV=HOODNWLYDWRUVDPVWlUNVWHQ'HU%LRFKHPLNHU ZKOWH LP 6XPSI KHUXP ZHLO HU KRIIWH GDV *HUlW ]X ILQGHQ 'LH 5RERWHU VWDQGHQ HEHQIDOOV LQ GHU *UXEH DEHU VLH EHZHJWHQ VLFK QLFKW 2IIHQEDU IXQJLHUWHQ VLH QXU DOV /HLEZDFKH .DPLWDUDV REZRKO .HQQRQ VLFK QLFKW YRU6WHOOHQ NRQQWH ZHQ .DPLWDUD LQ GLHVHP*HELHW]XEHIUFKWHQKDWWH 'HU .5$7$ DUEHLWHWH YHUELVVHQ (U 6FKLHQ GLH 8PZHOW Y|OOLJ YHUJHVVHQ ]X KDEHQ .HQQRQOLHVLFKODQJVDPKLQDEVLQNHQ'LH5RERWHU]HLJWHQNHLQH5HDNWLRQ $OV.HQQRQGLFKWEHUGHP:LVVHQVFKDIWOHUVFKZHEWHKREGLHVHULQVWLQNWLYGHQ .RSI(UGXFNWHVLFKHUVFKURFNHQGRFK.HQQRQZDUVFKRQEHULKPXQGULLKQDQVLFK 'DEHLEHQXW]WHHULKQDOV'HFNXQJJHJHQGLH5RERWHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³/DVVHQ6LHPLFKORV´VFKULHGHU.5$7$ .HQQRQJHZDQQZLHGHUDQ+|KH'LH5RERWHUYHUOLHHQ]|JHUQGGLH*UXEH,KUH 8QHQWVFKORVVHQKHLWEHZLHV.HQQRQGDVLHQLFKWZXWHQZDVVLHMHW]WWXQVROOWHQ .HQQRQ HQWIHUQWH VLFK VFKQHOO YRQ GHU *UXEH (U KLHOW GHQ .5$7$ VR IHVW GD GLHVHUNDXP/XIWEHNDP 7URW]GHP YHUVXFKWH GHU :LVVHQVFKDIWOHU YHU]ZHLIHOW VLFK DXV GHP *ULII GHV 8626SH]LDOLVWHQ]XEHIUHLHQ ,QGHU)HUQHWDXFKWHGLH7UDQVPLWWHUVWDWLRQDXI.HQQRQIORJGLUHNWGDUDXI]X ³6LH NRPPHQ QLFKW GXUFK´ ULHI .DPLWDUD ³:DV ZROOHQ 6LH DOOHLQ JHJHQ PLFK XQWHUQHKPHQ"'DV6FKLIIGHU862GDVVLFKLP2UELWXPGLH6RQQH5DWRV(ERUEHIDQG H[LVWLHUWQLFKWPHKU´ ³:DVKHLWGDV"´IUDJWH.HQQRQVFKRFNLHUW ³,FK KDEH EHUDOO 6LFKHUKHLWVYRUNHKUXQJHQ JHWURIIHQ´ HUNOlUWH GHU .5$7$ WULXPSKLHUHQG³'DV6FKLIIZXUGHYRQHLQHP6RQQHQVDWHOOLWHQYHUQLFKWHW´ .HQQRQZDUEHVWU]W6HLQHVFKOLPPVWHQ9HUPXWXQJHQZXUGHQGDPLWEHVWlWLJW ³6LH VLQG HLQ 0|UGHU´ VDJWH HU ]X .DPLWDUD ³,FK ZHUGH GDIU VRUJHQ GD PDQ 6LH]XU5HFKHQVFKDIW]LHKW´ ³0LW PLU ZHUGHQ 6LH QLFKW IHUWLJ´ JDE GHU :LVVHQVFKDIWOHU ]XUFN ³6LH ZHUGHQ EDOGHUNHQQHQGD6LHNHLQH&KDQFHKDEHQ$XHUGHPVLQG6LHHEHQVRZLHLFKKLQWHU GHP=HOODNWLYDWRUKHU:DKUVFKHLQOLFKGHQNHQ6LHGDUDQLKQIUVLFK]XEHKDOWHQZHQQ 6LH LKQ HQWGHFNHQ VROOWHQ .HLQ 0HQVFK NDQQ VR YHUUFNW VHLQ GD HU HLQ OHEHQVHUKDOWHQGHV*HUlW]XUFNJLEW´ .HQQRQDQWZRUWHWHQLFKW8QEHZXWKDWWH.DPLWDUDVHLQHZXQGH6WHOOHJHWURIIHQ .HQQRQ ZXWH JHQDX GD VHLQ 3DUWQHU 7HNHQHU LP =XVDPPHQKDQJ PLW GHP =HOODNWLYDWRUQLFKWY|OOLJXQHLJHQQW]LJGDFKWH:LH]XYHUOlVVLJZDU7HNHQHU" .HQQRQ ODQGHWH DXI GHU 3ODWWIRUP YRU GHU 6WDWLRQ XQG KRE .DPLWDUD GXUFK GDV RIIHQH)HQVWHU 'HU:LVVHQVFKDIWOHUVDKLKQLUULWLHUWDQ ³:HUVLQG6LHEHUKDXSW"´IUDJWHHU³6LHKDEHQ.UlIWHZLHZLHHLQ5RERWHU³ .HQQRQVSUDQJGXUFKGDVRIIHQH)HQVWHU ³6LH VLQG HLQ YHUGDPPWHU 5RERWHU´ VFKULH .DPLWDUD ³,FK ODVVH PLFK QLFKW YRQ HLQHP5RERWHUEHUUXPSHOQ´ ,QGLHVHP$XJHQEOLFNYHUORU.HQQRQGLH.RQWUROOHEHUVLFK(USDFNWH.DPLWDUD XQG KRE LKQ KRFK 0LW HLQHU +DQG WUXJ HU LKQ YRU VLFK KHU XQG GUFNWH LKQ JHJHQ GLH QlFKVWOLHJHQGH:DQG.DPLWDUDUDQJQDFK$WHP $OV 5RERWHU EH]HLFKQHW ]X ZHUGHQ ZDU IU .HQQRQ VFKOLPPHU DOV MHGHU N|USHUOLFKH$QJULII .DPLWDUDTXROOHQGLH$XJHQDXVGHP.RSI(UZDUQDKHGDUDQ]XHUVWLFNHQ$OV .HQQRQ HQGOLFK VHLQH )DVVXQJ ]XUFNJHZDQQ XQG PHUNWH ZDV HU WDW ZDU .DPLWDUD VFKRQKDOEEHZXWORV .HQQRQOLHLKQDQGHU:DQGKHUDEVLQNHQ ³6LH ZHUGHQ MHW]W GHQ 7UDQVPLWWHU HLQVFKDOWHQ XQG MXVWLHUHQ´ EHIDKO .HQQRQ ³'DQQNHKUHQZLUJHPHLQVDPLQ,KUH6WDWLRQDXIGHU9XONDQLQVHO]XUFN 'HU%LRFKLUXUJ]LWWHUWH ³6LH N|QQHQ PLFK QLFKW XPEULQJHQ´ VDJWH HU PLW UDXKHU 6WLPPH ³$OV 8626SH]LDOLVW KDEHQ 6LH HLQHQ (LG DEJHOHJW GHU ,KQHQ GHQ $QJULII DXI DQGHUH
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
,QWHOOLJHQ]HQQXUEHL1RWZHKUHUODXEW´ .HQQRQGHXWHWHZRUWORVLQ5LFKWXQJGHV7UDQVPLWWHUV .DPLWDUDVFKZDQNWHGDUDXI]X9RUGHQ6FKDOWDQODJHQEOLHEHUVWHKHQ ³.RPPHQ 6LH QLFKW DXI GHQ *HGDQNHQ PLFK EHUOLVWHQ ]X ZROOHQ´ ZDUQWH LKQ .HQQRQ³,FKZUGHHVVRIRUWPHUNHQZHQQ6LHGLH$QODJHIlOVFKMXVWLHUHQ´ 0LW JHVHQNWHP .RSI QDKP .DPLWDUD HLQ SDDU 6FKDOWXQJHQ YRU .HQQRQ JODXEWH QLFKWGDGHUDQGHUHYHUVXFKHQZUGHLKQ]XEHWUJHQ $OV GHU 7RUERJHQ EHU GHP 7UDQVPLWWHUHLQJDQJ DXIIODPPWH ZDQGWH VLFK .DPLWDUD]X.HQQRQXP ³:HUVLQG6LH"´ ,Q.HQQRQWREWHQQRFKLPPHUKHIWLJH*HIKOHDEHUHUEHKHUUVFKWHVLFK(UKDWWH VHLQHQ+DXQWHU.RQWUROOH ³,FKELQHLQ0HQVFK´VDJWHHU]X.DPLWDUD 'HU:LVVHQVFKDIWOHUVFKWWHOWHGHQ.RSI ³.HLQ 0HQVFK NDQQ VROFKH )lKLJNHLWHQ HQWZLFNHOQ 6LH VLQG ZDKUVFKHLQOLFK HLQ 8PZHOWDQJHSDWHURGHUHLQ&\ERUJ´ .HQQRQV+lQGH]XFNWHQDEHUHUVFKOXJQLFKW]X ³(VJLEWHLQ*HUFKW´IXKUGHU%LRFKLUXUJJHGDQNHQYHUORUHQIRUW³GDVYRQHLQHP VHOWVDPHQ :HVHQ LP 'LHQVWH GHU 862 EHULFKWHW :HQQ GLHVHV *HUFKW VWLPPW PX GLHVHV :HVHQ XQJHZ|KQOLFKH .UDIW KDEHQ XQG DXFK DQGHUH )lKLJNHLWHQ EHVLW]HQ GLH HLQHP QRUPDOHQ 0HQVFKHQ XQJODXEOLFK YRUNRPPHQ PVVHQ´ 6HLQH $XJHQ OHXFKWHWHQ DXI ³6LH PVVHQ GRFK YHUVWHKHQ GD LFK PLFK GDIU LQWHUHVVLHUH 6WHOOHQ 6LH VLFK IU ([SHULPHQWH ]XU 9HUIJXQJ XQG LFK PDFKH 6LH ]X HLQHP GHU UHLFKVWHQ 0lQQHU GHU *DOD[LV´ $QJHZLGHUWEOLFNWH.HQQRQ]XU6HLWH .DPLWDUDVFKLHQ]XJODXEHQGDVHLQ:LGHUVDFKHUVFKZDQNHQGZXUGHGHQQHU IJWH KDVWLJ KLQ]X ³,FK NDQQ DOO ,KUH )lKLJNHLWHQ QRFK YHUVWlUNHQ ,FK JHEH ,KQHQ +lQGHXQG$UPHGLH,KUH.|USHUNUDIWQRFKEHVVHUEHUWUDJHQN|QQHQ´ 6FKZHLJHQG|IIQHWH.HQQRQVHLQH-DFNH]RJGLHOHEHQGH%LRPROSODVWKDXWEHU VHLQHU %UXVW DXVHLQDQGHU XQG |IIQHWH HLQH VHLQHU %UXVWNODSSHQ GDPLW .DPLWDUD LQ VHLQHQ %UXVWNDVWHQ VHKHQ NRQQWH (U ZXWH QLFKW ZDUXP HU GDV WDW DEHU LUJHQGZLH KDWWHHUGHQ:XQVFKGLHVHQ0DQQ]XEHHLQGUXFNHQXQG]XVFKRFNLHUHQ .DPLWDUD WUDW HLQHQ 6FKULWW ]XUFN XQG EOLFNWH ZLH JHEDQQW LQV ,QQHUH YRQ .HQQRQV.|USHU ³$OVRGRFK´VWLHHUKHUYRU³$EHU,KUH5HDNWLRQHQVLQGPHQVFKOLFK´ ³,FKELQHLQ0HQVFK´YHUVHW]WH.HQQRQUXKLJ .DPLWDUDODFKWHLUU ³0LWGLHVHP.|USHU"´ 0LW ]ZHL 6FKULWWHQ ZDU .HQQRQ EHL LKP XQG VWLH LKQ DXI GLH 7UDQVPLWWHUDQODJH ]X ³:LU ZHUGHQ JHPHLQVDP GXUFK GLH $QODJH JHKHQ´ VDJWH HU ]X .DPLWDUD ³,FK P|FKWHQLFKWGDLFKLUJHQGZRLP1LFKWVODQGH:HQQ6LHEHLPLUVLQGNDQQLFKVLFKHU VHLQGD6LHPLFKQLFKWEHWUJHQ1LHPDQGGHUGLH&KDQFHKDWHLQHQ=HOODNWLYDWRU]X EHNRPPHQVSLHOWPLWVHLQHP/HEHQ´ .DPLWDUDZDUIHLQHQVHKQVFKWLJHQ%OLFNLQ5LFKWXQJGHV)HQVWHUV ³'DV *HUlW PX GRUW GUDXHQ LP 6XPSI VHLQ :DUXP EHUJHQ ZLU HV QLFKW
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
]XVDPPHQ"´ .HQQRQ ]RJ LKQ ZRUWORV PLW VLFK DXI GHQ 7UDQVPLWWHUHLQJDQJ ]X 'HU :LVVHQVFKDIWOHU VWUlXEWH VLFK KHIWLJ DEHU GHP *ULII .HQQRQV NRQQWH HU VLFK QLFKW HQW]LHKHQ ³+DOW´VFKULH.DPLWDUDSO|W]OLFK³:LUGUIHQQLFKWGXUFKGHQ7UDQVPLWWHUJHKHQ ,FKKDEHLKQIDOVFKJHVFKDOWHW:LUZUGHQIUDOOH=HLWHQLP+\SHUUDXPEOHLEHQ´ ³'DV DKQWH LFK´ .HQQRQ IKUWH .DPLWDUD ]XUFN ]X GHQ 6FKDOWDQODJHQ XQG OLH LKQGHQ7UDQVPLWWHUQRFKHLQPDOMXVWLHUHQ 'DQQ WUDW HU JHPHLQVDP PLW GHP :LVVHQVFKDIWOHU LQ GHQ 7RUERJHQ XQG HQWPDWHULDOLVLHUWH
2EZRKO HU VWlQGLJ YRQ KHUDEVWU]HQGHQ 7UPPHUQ JHWURIIHQ ZXUGH JDE 7HNHQHU GLH 6XFKH QDFK GHP =HOODNWLYDWRU QLFKW DXI 6HLQ ,QVWLQNW VDJWH LKP GD GDV *HUlWLQXQPLWWHOEDUHU1lKHVHLQPXWH 'HU 7RUERJHQ GHV 7UDQVPLWWHUV KDWWH VLFK ELVKHU QLFKW ZLHGHU DXIJHEDXW :HQQ .HQQRQQLFKW]XUFNNDPXP7HNHQHU]XUHWWHQNRQQWHGHU6SLHOHUQXUKRIIHQGDGHU 3ODQHW VLFK ZLHGHU EHUXKLJWH XQG GLHVH 6WDWLRQ QLFKW ]HUVW|UWH ,P $XJHQEOLFN VDK HV MHGRFK QLFKW GDQDFK DXV ,PPHU KHIWLJHUH %HEHQ HUVFKWWHUWHQ GLH 7UDQVPLWWHUVWDWLRQ 7HNHQHU ZDU EHU]HXJW GDYRQ GD DOOH DQGHUHQ 5lXPH EHUHLWV LQ VLFK ]XVDPPHQJHIDOOHQZDUHQ (U EHGDXHUWH MHW]W GD HU %LJ %HQ 6SHFLDO ZHJJHVFKLFNW KDWWH 'LH (LQVDPNHLW ZDUXQWHUGHQDXJHQEOLFNOLFKHQ8PVWlQGHQVFKZHU]XHUWUDJHQ 7HNHQHU ZDWHWH GXUFK GLH DP %RGHQ OLHJHQGHQ hEHUUHVWH XPJHVWU]WHU 5HJDOH XQGZKOWHLQGHQ7UPPHUQ(UPHUNWHNDXPGDHUVLFKGLH+lQGHEOXWLJUL 6HLQ9HUVWDQGVDJWHLKPGDHVUHLQHU=XIDOOVHLQZUGHZHQQHUGHQ$NWLYDWRU HQWGHFNHQVROOWH(UZXUGHMHGRFKQDFKZLHYRUYRQGHU9RUVWHOOXQJEHKHUUVFKWGDHU GDV*HUlWIUVLFKJHZLQQHQNRQQWH 9RULKPEUDFKGHU%RGHQDXI(UZXUGHQDFKKLQWHQJHULVVHQXQGILHO]ZLVFKHQ HLQ SDDU 0HWDOOEHKlOWHU 6HLQHP WUDLQLHUWHQ .|USHU PDFKWHQ VROFKH 6WU]H QLFKWV DXV DEHU HV EHVWDQG GLH *HIDKU GD HU XQWHU GHQ KHUDEEUHFKHQGHQ 7HLOHQ GHU 'HFNH EHJUDEHQZXUGH 9RUVLFKWLJ GUHKWH HU VLFK KHUXP XQG NURFK LQ 5LFKWXQJ GHV 7UDQVPLWWHUV GDYRQ 'LH6FKDOWDQODJHQZDUHQXPJHVWU]W7HNHQHUEH]ZHLIHOWHGDVLHQRFKIXQNWLRQVIlKLJ ZDUHQ(UKRIIWHMHGRFKGDGLH$QODJHVLFKDXFKYRQGHU*HJHQVWDWLRQDXVEHGLHQHQ OLH 9RUGHP7UDQVPLWWHUULFKWHWHHUVLFKZLHGHUDXI (U VDK GD GHU 7RUERJHQ DXIIODPPWH 'LH +HOOLJNHLW OLH LKQ JHEOHQGHW GLH $XJHQVFKOLHHQ ³.HQ´VWLHHUKHUYRU 'RFK DOV HU GLH $XJHQ |IIQHWH NRQQWH HU QLHPDQG VHKHQ ,P GXQNOHQ 5DXP ]ZLVFKHQ GHQ 6lXOHQ EHJDQQ HV ]X ZDOOHQ ,UJHQG MHPDQG RGHU LUJHQG HWZDV ZXUGH WUDQVSRUWLHUWXQGZDULP%HJULII]XPDWHULDOLVLHUHQ 'HU8626SH]LDOLVWZDUWHWHJHVSDQQW 'DQQZXUGHQGLH8PULVVHHLQHVNOHLQHUHQ*HJHQVWDQGHVVLFKWEDU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
7HNHQHU|IIQHWHGHQ0XQG :DVHUVDKZDUXQJODXEOLFKDEHUHVNRQQWHNHLQH+DOOX]LQDWLRQVHLQ(UVFKOR GLH$XJHQXQG|IIQHWHVLHZLHGHU 'DV'LQJEOLHE (VVFKZHEWHLQHLQHU$UW(QHUJLHIHOGDXVGHP7UDQVPLWWHUKHUDXV 'DV'LQJZDUHLQ=HOODNWLYDWRU
%LJ %HQ 6SHFLDO VFKZHEWH HWZD ]Z|OIWDXVHQG 0HWHU EHU GHU 9XONDQLQVHO XQG EHREDFKWHWHLKUHQ8QWHUJDQJ=XEHLGHQ6HLWHQGHUJLJDQWLVFKHQ5LQJJHELUJHZDUHQGLH )HOVHQDXIJHEURFKHQ0DJPDVWU|PWHKHUDXVHUJRVLFKEHUGLH+lQJHXQGJHODQJWH ELV LQV 0HHU (LQ 7HLO GHV 5LQJJHELUJHV ZDU ]XVDPPHQJHIDOOHQ ,P =HQWUXP GHU ,QVHO VDGHUHUVWDUUWH0DJPDSIURSIHQLQGHPVLFK.DPLWDUDV6WDWLRQEHIDQGQRFKLPPHULP .HJHO GHV HUORVFKHQHQ 9XONDQV 'LH EHUDOO DXIVWHLJHQGHQ GXQNOHQ :RONHQ EHZLHVHQ %LJ%HQGDGHU9XONDQXQPLWWHOEDUYRUHLQHP$XVEUXFKVWDQG=XEHLGHQ6HLWHQGHV *HELOGHVEURGHOWH/DYD %LJ%HQSUHWHGLH/LSSHQ]XVDPPHQ (V ZDU VLQQORV ZHQQ HU QRFK HLQPDO LQ GLHVH 6WDWLRQ ]XUFNNHKUWH 'DV ZlUH HLQHP 6HOEVWPRUG JOHLFKJHNRPPHQ %LJ %HQ OLH VLFK ODQJVDP WLHIHU VLQNHQ XQG HQWIHUQWHVLFKJOHLFK]HLWLJYRQGHU,QVHO(UVFKOXJGLH5LFKWXQJDXIVRIIHQH0HHUHLQ,Q HLQSDDU6WXQGHQZUGHHUGHQQl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|U'LH(UVFKWWHUXQJHQGHV%RGHQV QHKPH LFK QLFKW PHKU ZDKU (V LVW DOV H[LVWLHUWHQ QXU QRFK GHU =HOODNWLYDWRU XQG LFK +HUDXVJHO|VW DXV DOOHQ DQGHUHQ (UHLJQLVVHQ EHILQGHQ ZLU XQV LQ HLQHP EHVRQGHUHQ 6WDGLXPGHU([LVWHQ] 1LHPDOV ]XYRU LQ PHLQHP /HEHQ ZDU LFK VR HUUHJW 0HLQH *HGDQNHQ YHUZLUUHQ VLFKLFKVWDUUHGLHVHV*HUlWDQGDVYRUGHP7RUERJHQLQGHU/XIWVFKZHEW ,FKEHJUHLIHGDLFKQXUKLQ]XJHKHQXQGHV]XHUJUHLIHQEUDXFKH 1XU VFKZDFK ZHUGH LFK PLU GHU ,URQLH GHV 6FKLFNVDOV EHZXW GD LFK LQ GHP $XJHQEOLFN GD LFK PLU GHQ =HOODNWLYDWRU XPKlQJHQ N|QQWH ZDKUVFKHLQOLFK XQWHU ]XVDPPHQEUHFKHQGHQ 0DXHUQ EHJUDEHQ ZHUGH 9RU HLQHP JHZDOWVDPHQ 7RG NDQQ PLFKDXFKGLHVHU=HOWJHQHUDWRUQLFKWEHZDKUHQ :LHLQ7UDQFHPDFKHLFKHLQHQ6FKULWWDXIGHQ7UDQVPLWWHU]X,FKEHZHJHPLFK
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
VHKU ODQJVDP GHQQ LFK IUFKWH GD MHGH KHIWLJH %HZHJXQJ GHQ =HOODNWLYDWRU YHUVFKZLQGHQODVVHQNDQQ (UEOHLEWDQVHLQHP3ODW] (LQH([SORVLRQLQHLQHPGHU1HEHQUlXPHOlWHLQH7UDXVGHQ9HUDQNHUXQJHQ UHLHQ GLH LFK ELVKHU QRFK QLFKW HQWGHFNW KDWWH 2IIHQEDU JLEW HV ]X GLHVHP 5DXP PHKUHUH=XJlQJH ,FK WDXPHOH ]XUFN XQG VWU]H LQ +HIWLJ QDFK $WHP ULQJHQG NULHFKH LFK GDQQ ZHLWHU +HOOHU 6WDXE ULHVHOW DXI PLFK KHUDE (LQH GHU JURHQ 'HFNHQYHUVWUHEXQJHQ VFKZLQJWZLHHLQ3HQGHOYRUGHP7UDQVPLWWHUKLQXQGKHU 'HUJHVDPWH5DXPVFKHLQW]XGU|KQHQ 1RFKLPPHUIODPPWGHU7RUERJHQGHV7UDQVPLWWHUV'DV*HUlWLVWDXI(PSIDQJ JHVFKDOWHWLFKNDQQHVQLFKWDOV)OXFKWZHJEHQXW]HQ ,FK NOHWWHUH DXI GDV JLWWHUlKQOLFKH 3RGHVW YRU GHP 7UDQVPLWWHUHLQJDQJ 'RUW VFKHLQHQGLH(UVFKWWHUXQJHQZHQLJHUKHIWLJ]XVHLQ'XUFKGLHJHZDOWVDPHQWVWDQGHQH gIIQXQJLP+LQWHUJUXQGGHU+DOOHVFKODJHQ)ODPPHQKHUHLQ 'HU8QWHUJDQJGHU6WDWLRQWULWWLQGLH(QGSKDVH ,FKELQQXUQRFKHLQSDDU6FKULWWHYRQGHP=HOODNWLYDWRUHQWIHUQW'DV'LQJKlQJW EHZHJXQJVORVGDDOOHQ*HVHW]HQGHU6FKZHUNUDIW]XP7URW] ,FKVHKHGDV3URGXNWHLQHU0DFKWYRUPLUGLHLFKQLFKWYHUVWHKHQNDQQ:HQQLFK PHLQH+DQGQDFKGHP$NWLYDWRUDXVVWUHFNHUKUHLFKDQ'LQJHGLHYHUKlQJQLVYROOVHLQ N|QQHQ %LQ LFK 5RQDOG 7HNHQHU ZLUNOLFK GD]X DXVHUVHKHQ²XQG VHL HV DXFK QXU IU HLQHQ$XJHQEOLFN²GLHVHQ=HOODNWLYDWRU]XWUDJHQ" ,FK HULQQHUH PLFK DQ GLH %RWVFKDIW YRQ (6 GLH LQ DOOHQ *HVFKLFKWVEFKHUQ QDFK]XOHVHQ LVW 6DJWH (6 QLFKW GD MHGHU HLQHQ VROFKHQ $NWLYDWRU ILQGHQ XQG WUDJHQ N|QQWH ,FKVWUHFNHHLQHQ$UPDXV'DV*HUlWVFKHLQWLQGHU/XIW]XVFKZLQJHQDEHUHV EOHLEW DQ VHLQHP 3ODW] ,FK EHUKUH HV PLW GHQ )LQJHUVSLW]HQ (LQ 6WURP VHOWVDPHU ,PSXOVH ULQQW GXUFK PHLQHQ .|USHU ,FK VWHKH ]LWWHUQG GD 'HU $NWLYDWRU VFKHLQW DQ PHLQHQ)LQJHUQ]XNOHEHQ ,FK |IIQH GLH +DQG XQG XPVFKOLHH GHQ HLI|UPLJHQ *HJHQVWDQG (U IKOW VLFK ZDUP DQ XQG XQG SXOVLHUW LQ PHLQHU +DQG 9RQ GLHVHP $XJHQEOLFN DQ ELQ LFK HLQ DQGHUHU ,FKZHLGDLFKGLHVHV*HUlWIUHLZLOOLJQLFKWPHKUDEJHEHQZHUGH ,FK|IIQHPHLQH+DQG]LHKHVLHYRUGDV*HVLFKWXQGEOLFNHGHQ$NWLYDWRUDQ(U VLHKWXQVFKHLQEDUDXV,FKGUHKHPLFKXPXQGYHUODVVHGDV3RGHVW 0HLQH %OLFNH GXUFKVXFKHQ GHQ 5DXP ,FK EUDXFKH HLQH .HWWH RGHU HWZDV bKQOLFKHV GDPLW LFK PLU GHQ $NWLYDWRU XP GHQ +DOV KlQJHQ NDQQ ,FK ZLOO GLH OHEHQVHUKDOWHQGHQ ,PSXOVH DXI GHU %UXVW VSUHQ 6LH VROOHQ GXUFK PHLQHQ .|USHU IOLHHQZHQLJVWHQVIUGLHNXU]H=HLWGLHLFKQRFKOHEHQZHUGH =ZLVFKHQGHQ7UPPHUQILQGHLFKHLQHVLOEHUQH6FKQXU,FK]LHKHVLHKHUDXVXQG IKUH VLH PLW HLQHP (QGH GXUFK HLQH NOHLQH gVH DXI GHU HLQHQ 6HLWH GHV $NWLYDWRUV 'DQQ |IIQH LFK PHLQHQ ]HUULVVHQHQ YHUGUHFNWHQ 8PKDQJ ,FK YHUNQRWH GLH VLOEHUQH 6FKQXU :HQLJH$XJHQEOLFNHVSlWHUKlQJHLFKPLUGHQ$NWLYDWRUXPGHQ+DOV(UUXKWDQ PHLQHU %UXVW :LHGHU VSUH LFK GHQ 6WURP OHEHQVVSHQGHQGHU ,PSXOVH (LQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
XQYHUJOHLFKOLFKHV*HIKO 'LH JDQ]H =HLW EHU KDQGHOH LFK ZLH HLQ 7UlXPHQGHU ,FK ZHUGH PLU PHLQHU (QWVFKOVVHNDXPEHZXW (UVWMHW]WGDLFKPHLQHQ8PKDQJZLHGHUVFKOLHHNRPPHLFKZLHGHU]XPLU =ZLVFKHQ 5RQDOG 7HNHQHU GHP 6SLHOHU XQG 5RQDOG 7HNHQHU GHP =HOODNWLYDWRUWUlJHU OLHJHQ :HOWHQ $EHU GHU 8QWHUVFKLHG ZLUG LQ GLHVHP $XJHQEOLFN EHGHXWXQJVORVGHQQNHLQHUGHUEHLGHQ7HNHQHUKDWHLQH&KDQFHVLFKGHU.DWDVWURSKH ]XHQW]LHKHQ ,FK VWHKH PLWWHQ LQ GHU 6WDWLRQ XQG ZDUWH GDUDXI GD VLH HQGJOWLJ LQ VLFK ]XVDPPHQEULFKW $OOH $XVJlQJH VLQG YHUVFKWWHW RGHU VWHKHQ LQ )ODPPHQ 'HU 7UDQVPLWWHULVWIDOVFKJHVFKDOWHW ,FKKDEHGDVHZLJH/HEHQJHIXQGHQ²XQGZHUGHVWHUEHQ
$XIVWHLJHQGHU5DXFKYHUVSHUUWH7HNHQHUGLH6LFKW(U]RJVLFKODQJVDPELV]XU :DQG]XUFN9RULKPEUDFKGHU%RGHQ]XP]ZHLWHQPDODXIHLQPHWHUEUHLWHU6SDOW]RJ VLFKTXHUGXUFKGLH+DOOH/LQNVQHEHQGHP8626SH]LDOLVWHQVWU]WHHLQ5HJDOLQVLFK ]XVDPPHQ 9RQ GHU 'HFNH O|VWH VLFK HLQ .DEHOEQGHO XQG WUDI 7HNHQHUV 6FKXOWHU (U JLQJ]X%RGHQ +DOE EHQRPPHQ YHUVXFKWH HU VLFK DXI]XULFKWHQ DOV HLQH VFKZHUH +DOWHVWDQJH EHULKQILHO6HLQH%HLQHZXUGHQHLQJHNOHPPW (U VFKULH DXI 'LH 6FKPHU]HQ LQ VHLQHQ %HLQHQ ZDUHQ P|UGHULVFK (U VWHPPWH VLFKPLWEHLGHQ+lQGHQJHJHQGHQYLEULHUHQGHQ%RGHQXQGZROOWHVLFKXQWHUGHUEUHLWHQ 0HWDOOVWDQJH KHUYRUVFKLHEHQ 'HU 9HUVXFK PLODQJ 7HNHQHU EHXJWH VLFK QDFK YRUQ SDFNWHGLH6WDQJHPLWGHQ+lQGHQXQGGUFNWHVLH]XU6HLWH(LQ%HLQNDPIUHL ,QGLHVHP$XJHQEOLFNQDKPHUGXUFKGHQ5DXFKHLQH%HZHJXQJZDKU =ZHL*HVWDOWHQEHZHJWHQVLFKYRUGHP7UDQVPLWWHU ³+LOIH´VFKULH7HNHQHU(VZDULKPJOHLFKJOWLJGDHUYLHOOHLFKW.UDWDPRQHQDXI VLFKDXIPHUNVDPPDFKWH 'LH *HVWDOWHQ NDPHQ QlKHU 7HNHQHU HUNDQQWH ]X VHLQHU (UOHLFKWHUXQJ .HQQRQ GHU.DPLWDUDJHSDFNWKDWWHXQGLKQPLWVLFK]RJ .HQQRQZLQNWHLKP]X :HQLJH $XJHQEOLFNH VSlWHU VWDQG .HQQRQ QHEHQ VHLQHP 3DUWQHU XQG EHIUHLWH LKQ 7HNHQHUV (UOHLFKWHUXQJ ZLFK VWDUNHU %HVRUJQLV (U ZXWH GD .HQQRQ GHQ =HOODNWLYDWRURUWHQNRQQWH'LH)UDJHZDUQXURE.HQQRQGLHULFKWLJHQ6FKOVVH]LHKHQ ZUGH 6FKOLHOLFK KDWWH GHU 0DQQ PLW GHP 5RERWN|USHU LQ GHQ OHW]WHQ 6WXQGHQ GHQ $NWLYDWRUVFKRQPHKUIDFKDXVXQPLWWHOEDUHU1lKHJHRUWHWRKQHLKQ]XHQWGHFNHQ 7HNHQHU EOLFNWH DQ VLFK KHUDE 'HU ZHLWH 8PKDQJ YHUKLQGHUWH GD HLQH $XVEXFKWXQJ]XVHKHQZDU ³:LUPVVHQ]XUFN´ULHI.HQQRQ³1RFKKDEHQZLU=HLWGXUFKGHQ7UDQVPLWWHU ]XHQWNRPPHQ´ (UVFKZDQJ.DPLWDUDKHUXPXQGVFKRELKQLQ5LFKWXQJGHV7UDQVPLWWHUV0LWGHU DQGHUHQ+DQGVWW]WHHU7HNHQHU ³/RV´IXKUHUGHQ:LVVHQVFKDIWOHUDQ³3ROHQ6LHGHQ7UDQVPLWWHUXP´
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³6HKHQ 6LH QLFKW GD GLH 6FKDOWDQODJHQ ]HUVW|UW VLQG"´ MDPPHUWH GHU %LRFKHPLNHU³'DLVWQLFKWVPHKU]XPDFKHQ´ (UVDK.HQQRQOLVWLJDQ ³/DVVHQ6LHPLFKORVGDPLWLFKDOOHVXQWHUVXFKHQNDQQ´ .HQQRQHQWOLHLKQDXVGHPIHVWHQ*ULIIEOLHEDEHUGLFKWEHLLKP'DQQZDQGWH HUVLFKDQ7HNHQHU³6FKDIIVWGXHVDOOHLQELV]XP7UDQVPLWWHU"´ 'HU 6SLHOHU OlFKHOWH JHTXlOW XQG QLFNWH (U HQWIHUQWH VLFK KXPSHOQG YRQ GHQ EHLGHQDQGHUHQ8QPLWWHOEDUYRUGHP7RUERJHQGHV7UDQVPLWWHUVEOLHEHUVWHKHQ ³(VLVWQXUHLQH9RUVLFKWVPDQDKPH´HUNOlUWH.HQQRQ³,FKZLOOYHUPHLGHQGD GHU.5$7$DOOHLQGXUFKGLH$QODJHHQWNRPPW´ (U EFNWH VLFK XQG ]RJ PKHORV HLQ SDDU 5HJDOWHLOH ]XU 6HLWH GDPLW GHU :LVVHQVFKDIWOHUEHVVHUDQDXIGHP%RGHQOLHJHQGH6FKDOWHLQKHLWHQKHUDQNRQQWH .DPLWDUDKREHLQ]HUVFKPHWWHUWHV(OHPHQWKRFK ³6HKHQ6LHVHOEVW(VLVWQLFKWVPHKU]XPDFKHQ´ ³+|UHQ 6LH DXI ]X OJHQ´ IXKU .HQQRQ LKQ DQ ³'HU 7UDQVPLWWHU NDQQ YRQ GHU 6WDWLRQ LP 6XPSI DXV MXVWLHUW ZHUGHQ 6LH EUDXFKHQ OHGLJOLFK GLH HQWVSUHFKHQGHQ )XQNVLJQDOHDE]XVWUDKOHQ(LQ*HUlWGDVQRFKLQWDNWLVWZHUGHQZLUZRKOILQGHQ´ 7HNHQHUVWDQGYRUGHP7UDQVPLWWHU HLQJDQJXQGK|UWHJHVSDQQW]X(UEUDXFKWH P|JOLFKVW YLHOH ,QIRUPDWLRQHQ EHU GLH DQGHUH 6WDWLRQ 9LHOOHLFKW JDE HV HLQH &KDQFH YRQGHU9XONDQLQVHO]XHQWNRPPHQ,QGLHVHP)DOOZROOWH7HNHQHUYHUVXFKHQVLFKHLQ SDDU 7DJH YRQ .HQQRQ DE]XVHW]HQ :HQQ LKP GDV JH OLQJHQ ZUGH NRQQWH LKP QLHPDQGPHKUGHQ=HOODNWLYDWRUDEQHKPHQ'DV*HUlWZUGHVLFKLQGLHVHP=HLWUDXP DXI7HNHQHUV,QGLYLGXDOLPSXOVHHLQVWHOOHQ'LH9HUDQWZRUWOLFKHQGHU862ZUGHQNHLQH DQGHUH:DKOKDEHQDOV7HNHQHUGHQ$NWLYDWRU]XEHUODVVHQ 7HNHQHUV *HGDQNHQ ZXUGHQ XQWHUEURFNHQ DOV .HQQRQ GHQ :LVVHQVFKDIWOHU ]ZLVFKHQHLQLJHQXPJHVWU]WHQ5HJDOHQKHUYRU]RJ ³:LU N|QQHQ QLFKW OlQJHU ZDUWHQ´ ULHI HU (U |IIQHWH VHLQHQ %UXVWYHUVFKOX XQG KDQWLHUWHJHVFKLFNWPLWGHQ+lQGHQLQQHUKDOEGHV%UXVWNDVWHQV*OHLFKGDUDXIKDWWHHU VHLQ)XQNJHUlWJHO|VWXQG]RJHVKHUDXV ³:LU ZHUGHQ PHLQ N|USHUHLJHQHV )XQNJHUlW EHQXW]HQ XP GLH ULFKWLJHQ ,PSXOVH DE]XVWUDKOHQ´HUNOlUWHHU³'DV*HUlWOlWVLFKQLFKWQXUGXUFK*HKLUQLPSXOVHVRQGHUQ DXFKPDQXHOOEHGLHQHQ´ (UKLHOWHV.DPLWDUDHQWJHJHQ ³/RVIDQJHQ6LHDQ´ ³$XISDVVHQ.HQ´ULHI7HNHQHU ³1DWUOLFK´YHUVHW]WH.HQQRQJULPPLJ³(UZLUGHVQLFKW]HUVW|UHQ´ .DPLWDUD EHXJWH VLFK ]|JHUQG EHU GLH 0LNURIXQNDQODJH GLH .HQQRQ LKP HQWJHJHQKLHOW (V ZDU IU 7HNHQHU XQVFKZHU ]X HUUDWHQ ZDV LP *HKLUQ GHV :LVVHQVFKDIWOHUVYRUJLQJ:HQQHV.DPLWDUDJHODQJGDV*HUlW]X]HUVW|UHQEHVDHQ GLH EHLGHQ 6SH]LDOLVWHQ NHLQH 0|JOLFKNHLW PHKU PLW VSlWHU HLQWUHIIHQGHQ 6FKLIIHQ GHU 8629HUELQGXQJDXI]XQHKPHQ 'RFK.DPLWDUDV$QJVWYRUVHLQHPXQKHLPOLFKHQ*HJQHUZDUJU|HU (UOLHVLFKYRQ.HQQRQHUNOlUHQZLHGDV*HUlWIXQNWLRQLHUWH 7HNHQHU EOLFNWH ]X GHQ 6lXOHQ GHV 7UDQVPLWWHUV KLQDXI (U ZDU HWZD GUHLLJ 0HWHU YRQ .HQQRQ XQG .DPLWDUD HQWIHUQW 'DV EHGHXWHWH GD HU HLQ SDDU 6HNXQGHQ VFKQHOOHU GXUFK GHQ 7UDQVPLWWHU NRPPHQ NRQQWH VREDOG GLH $QODJH XPJHSROW VHLQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
ZUGH (U EHUOHJWH RE GLHVHU 9RUVSUXQJ DXVUHLFKWH XP LQ GHU DQGHUHQ 6WDWLRQ ]X IOLHKHQ =XPLQGHVWPXWHHUHVYHUVXFKHQGDVZDUGLHHLQ]LJH&KDQFHGHQ$NWLYDWRULQ 6LFKHUKHLW]XEULQJHQ (UKRIIWHGDGDV*HUlWMHW]WNHLQH,PSXOVHPHKUDXVVWUDKOWH6FKOLHOLFKEHIDQG HV VLFK DQ HLQHP YRUEHVWLPPWHQ 3ODW] (V EHVD HLQHQ 7UlJHU (V JDE DOVR NHLQHQ *UXQGPHKUIUZHLWHUH/RFNUXIH ³)HUWLJ"´NODQJ.HQQRQV6WLPPHDXI ³-D´.DPLWDUDVFKLHQ]X]|JHUQ ³%HJHKHQ6LHNHLQHDEVLFKWOLFKHQ)HKOHU´ZDUQWHLKQ.HQQRQ³6LHZUGHQVLFK GDGXUFKVHOEVW]XP7RGYHUXUWHLOHQ´ 0LWHLQHPIUFKWHUOLFKHQ.UDFKEUDFKLQGLHVHP$XJHQEOLFNHLQ7HLOGHV%RGHQV HLQ (U VWU]WH LQ GLH XQWHU GHU 7UDQVPLWWHUVWDWLRQ OLHJHQGHQ 5lXPH 'HU JHVDPWH 7UDQVPLWWHUEHJDQQ]XVFKZDQNHQ .DPLWDUDEHJDQQKDVWLJ]XIXQNHQ $XVGHQXQWHUHQ5lXPHQVWLHJHQ5DXFKZRONHQKRFKhEHUDOOZDUGDV.QLUVFKHQ YRQ9HUVWUHEXQJHQ]XK|UHQGLHVLFKDXVLKUHQ9HUDQNHUXQJHQO|VWHQ'DVHQGJOWLJH (QGHGHU6WDWLRQZDUJHNRPPHQ 7HNHQHU VDK ZLH GLH )DUEH GHU 6lXOHQ VLFK YHUlQGHUWH $XV GHP VWUDKOHQGHQ :HLELOGHWHVLFKHLQJUQOLFKVFKLPPHUQGHU7RUERJHQ 2KQH]X]|JHUQVHW]WHHUVLFKLQ%HZHJXQJ ³7HN´K|UWHHU.HQQRQVFKUHLHQ 'DV ZDU GDV OHW]WH ZDV HU YRQ GLHVHU 8PJHEXQJ ZDKUQDKP (U ZXUGH YRP 7RUERJHQGHV7UDQVPLWWHUVYHUVFKOXFNWXQGGXUFKGDV1LFKWVJHVFKOHXGHUW
.HQQRQ VWDQG HLQHQ $XJHQEOLFN ZLH HUVWDUUW GD (U NRQQWH VLFK GLH +DQGOXQJVZHLVH VHLQHV 3DUWQHUV QLFKW HUNOlUHQ 8QWHU QRUPDOHQ 8PVWlQGHQ KlWWH 7HNHQHUJHZDUWHWELV.HQQRQEHLLKPJHZHVHQZlUH .DPLWDUDVSUWHGLH9HUZLUUXQJGHV8626SH]LDOLVWHQ ³,KU)UHXQGOlW6LHLP6WLFK´VDJWHHUJHKlVVLJ³(UGHQNWQXUDQVHLQHHLJHQH 6LFKHUKHLW´ )U .HQQRQ VWDQG IHVW GD 7HNHQHU QRFK LPPHU KRIIWH GHQ =HOODNWLYDWRU ]X ILQGHQ 'DV %HQHKPHQ GHV 6SLHOHUV ZDU XQYHUDQWZRUWOLFK DEHU .HQQRQ YHUVXFKWH VHLQHQ)UHXQG]XYHUVWHKHQ7HNHQHUZDUHLQ0HQVFKGHUVHKUDP/HEHQKLQJ(UZDU ]XUHDOLWlWVYHUEXQGHQXPVLFKPLWGHP*HGDQNHQDQGHQ7RGDQIUHXQGHQ]XN|QQHQ (V JDE NHLQH 3KLORVRSKLH GLH 7HNHQHU GDV (QGH VHL QHV /HEHQV HUOHLFKWHUW KlWWH 'HVKDOE PXWH HLQ =HOODNWLYDWRU IU 7HNHQHU HLQH XQHUPHOLFKH %HGHXWXQJ EHVLW]HQ 8QWHU GLHVHQ 8PVWlQGHQ ZDU HV ]X YHUVWHKHQ GD 7HNHQHU HLJHQH :HJH ]X JHKHQ YHUVXFKWH .HQQRQSDFNWH.DPLWDUDDP1DFNHQ ³/RV´EHIDKOHU³:LUJHKHQMHW]W]XUFN´ 'HU:LVVHQVFKDIWOHUYHUZQVFKWHVHLQHQ%H]ZLQJHU(UVDKLP$XJHQEOLFNNHLQH &KDQFHVHLQH)UHLKHLW]XUFN]XJHZLQQHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
'LHEHLGHQXQJOHLFKHQ:HVHQJLQJHQGXUFKGHQ7UDQVPLWWHU+LQWHULKQHQEUDFK GLH6WDWLRQHQGJOWLJDXVHLQDQGHU
'HU LQQHUH 'UXFN GHV 9XONDQV ZXUGH VR VWDUN GD HU GXUFK GDV (LJHQJHZLFKW GHU SIURSIHQI|UPLJHQ 6WDWLRQ QLFKW PHKU ]XUFNJHKDOWHQ ZHUGHQ NRQQWH =XQlFKVW HQWVWDQGHQ5LVVHLQGHUPHWHUGLFNHQ%RGHQSODWWHGXUFKGLH5DXFKXQG0DJPDLQGLH XQWHUHQ5lXPHGHU6WDWLRQVWU|PWHQ'DQQYHUVFKDIIWHGHU9XONDQVLFKHQGJOWLJ/XIW ,Q HLQHU JLJDQWLVFKHQ (UXSWLRQ VFKOHXGHUWH HU GLH hEHUUHVWH GHV SKDQWDVWLVFKHQ *HElXGHV LQ GLH +|KH 'LH 6WDWLRQ ]HUEDUVW XQG VDQN LQ HLQHP 7UPPHUUHJHQ LQ GHQ .UDWHU ]XUFN 'DV 0HHU ULQJV XP GLH 9XONDQLQVHO VFKLHQ ]X NRFKHQ 0HWHUKRKH )OXWZHOOHQZlO]WHQVLFKLQ5LFKWXQJGHVQlFKVWHQ.RQWLQHQWV'LHULHVLJHQ5LQJJHELUJH VDQNHQLQVLFK]XVDPPHQ'LFKWH5DXFKZRONHQWULHEHQLQGLH+|KH*OKHQGHV0DJPD IOOWHGHQ.UDWHUXQGIDQGLPPHUQHXH:HJHLQV0HHUKLQDXV 'LH,QVHOEHJDQQLP0HHU]XYHUVLQNHQ 'LH )lKLJNHLW VLFK LQ HLQHU YROONRPPHQ IUHPGHQ 8PJHEXQJ EOLW]VFKQHOO ]X RULHQWLHUHQKDWWH7HNHQHUVFKRQRIWGDV/HEHQJHUHWWHW$OVHUDXVGHP7UDQVPLWWHULQ GLH 6WDWLRQ EHU GHU 6XPSIODQGVFKDIW WDXPHOWH ZDU VHLQ /HEHQ QLFKW PHKU LQ XQPLWWHOEDUHU *HIDKU DEHU HV NDP GDUDXI DQ GD HU VLFK EOLW]VFKQHOO DXV GLHVHU 8PJHEXQJHQWIHUQWH (UHUNDQQWHGDHUVLFKLQHLQHP5DXPEHIDQGGHUKRFKEHUGHQ6PSIHQODJ (LQHVGHUJURHQ)HQVWHUZDUJH|IIQHWGDYRUEHIDQGVLFKHLQH3ODWWIRUPGLHRIIHQEDU DOV 6WDUW XQG /DQGHSODW] IU :HVHQ PLW )OXJDQ]JHQ GLHQWH 'LH 7DWVDFKH GD GDV )HQVWHURIIHQVWDQGEHZLHV7HNHQHUGDGLH 3ODWWIRUPYRUNXU]HU=HLWEHQXW]WZRUGHQ ZDU )U GDV (UNHQQHQ GHU 8PJHEXQJ XQG IU GLH ULFKWLJH (LQVFKlW]XQJ GHU 6LWXDWLRQ EUDXFKWHHUQXUHLQSDDU6HNXQGHQ 6HLQ JHVFKXOWHV *HKLUQ EHJULII GD LUJHQGZR LQQHUKDOE GHU 6WDWLRQ $XVUVWXQJVJHJHQVWlQGH JHODJHUW ZXUGHQ GLH LKP JHVWDWWHQ ZUGHQ GLHVHQ 5DXP EHU GLH 3ODWWIRUP ]X YHUODVVHQ 9HUQQIWLJHUZHLVH ZUGHQ GLH (UEDXHU GLHVHU $QODJH GLH)OXJDJJUHJDWHLQGHU1lKHGHV)HQVWHUVXQWHUJHEUDFKWKDEHQ :lKUHQG HU GDUEHU QDFKGDFKWH KXPSHOWH 7HNHQHU EHUHLWV PLW VFKPHU]YHU]HUUWHP *HVLFKW DXI GDV RIIHQH )HQVWHU ]X (U UL GLH GDUXQWHU OLHJHQGHQ 6FKUlQNH DXI VDK 6FKXW]KHOPH $Q]JH :DIIHQ XQG DQGHUH $XVUVWXQJVJHJHQVWlQGH(UULHLQHQ6WUDKOHQNDUDELQHUKHUDXVXQGOHJWHLKQEHUGLH 6FKXOWHU'DQQJULIIHUQDFKHLQHP)OXJDJJUHJDW(UVFKDOWHWHHVHLQXQGJOLWWDXVGHP )HQVWHU'DV*HUlWEHVDHLQHQ$QWLJUDYSURMHNWRU hEHUGHU3ODWWIRUPKLHOW7HNHQHUDQXQGEOLFNWHLQ5LFKWXQJGHV7UDQVPLWWHUV(U HUWDSSWH VLFK EHL GHP *HGDQNHQ GD HV EHVVHU IU LKQ JHZHVHQ ZlUH GLH 7UDQVPLWWHUDQODJH PLW HLQ SDDU JH]LHOWHQ 6FKVVHQ ]X ]HUVW|UHQ 'DV KlWWH MHGH 9HUIROJXQJXQP|JOLFKJHPDFKW.HQQRQZUGHVLFKVFKRQ]XKHOIHQZLVVHQ 'RFK GDQQ YHUZDUI 7HNHQHU GLHVHQ *HGDQNHQ :HQQ GHU =XIDOO HV ZROOWH ]HUVW|UWHHUGLH$QODJHJHUDGHGDQQZHQQ.HQQRQVLFKLQGHQ7UDQVPLWWHUEHJDE$XI GLHVH:HLVHKlWWHHUVHLQHQ3DUWQHU]XP7RGHYHUXUWHLOW 7HNHQHUEOLFNWHEHUGLH3ODWWIRUPXQGVFKZDQJVLFKEHULKUHQ5DQGKLQDE$Q GHQ $XHQPDXHUQ GHV ULHVLJHQ 0DVWHV IORJ HU IDVW VHQNUHFKW QDFK XQWHQ 'DQQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
XPUXQGHWH HU GHQ 7XUP (U IORJ LQ HQWJHJHQJHVHW]WHU 5LFKWXQJ GHV RIIHQHQ )HQVWHUV GDYRQ 'HU6XPSIHUVWUHFNWHVLFKELV]XP+RUL]RQW 7HNHQHU KLHOW VLFK GLFKW EHU GHP %RGHQ $XV PRUDVWLJHQ /|FKHUQ VWLHJHQ EHOULHFKHQGH'lPSIHKRFK 'HU 8626SH]LDOLVW KLHOW QDFK HLQHP 9HUVWHFN $XVVFKDX (U KDWWH 6FKPHU]HQ XQGZDUHUVFK|SIW $XHUGHP PXWH HU IUKHU RGHU VSlWHU GDV )OXJDJJUHJDW DXVVFKDOWHQ ZHQQ HU QLFKWJHRUWHWZHUGHQZROOWH.HQQRQZUGHLKQDXIMHGHQ)DOOVXFKHQ 6SlWHVWHQV ZHQQ .HQQRQ DXV GHP 7UDQVPLWWHU NDP XQG 7HNHQHU QLFKW LQ GHU 6WDWLRQ YRUIDQG ZUGH HU GLH ULFKWLJHQ 6FKOVVH DXV GHP 9HUKDOWHQ GHV 6SLHOHUV ]LHKHQ(UZUGHHUNHQQHQGDVHLQ3DUWQHUVLFKLP%HVLW]GHV=HOODNWLYDWRUVEHIDQG GHU QDFK $QVLFKW DOOHU 9HUDQWZRUWOLFKHQ HLQHU JHHLJQHWHQ 3HUV|QOLFKNHLW EHUJHEHQ ZHUGHQPXWH 7HNHQHUODFKWHZLOGDXI (UZUGHGHQ$NWLYDWRUQLFKWPHKUKHUJHEHQ
.HQQRQ WUDW DXV GHP 7UDQVPLWWHU .DPLWDUD ZDQG VLFK VW|KQHQG LQ VHLQHQ +lQGHQ ³(U LVW QLFKW GD´ VWHOOWH GHU %LRFKHPLNHU WULXPSKLHUHQG IHVW ³,FK KRIIH GD HU LUJHQGZRLP+\SHUUDXPKlQJHQJHEOLHEHQLVW´ 2KQH]XDQWZRUWHQGHXWHWH.HQQRQDXIGHQRIIHQHQ6FKUDQNXQWHUGHP)HQVWHU ³$K´ PDFKWH .DPLWDUD HQWWlXVFKW ³(U KDW GDULQ KHUXPJHZKOW XQG YHUPXWOLFK HLQHQ $QWLJUDYSURMHNWRU JHIXQGHQ ,FK ELQ VLFKHU GD HU VLFK DXFK PLW :DIIHQ DXVJHUVWHWKDW.|QQHQ6LHVLFKGLH9HUKDOWHQVZHLVH,KUHV3DUWQHUVHUNOlUHQ"´ .HQQRQ ]RJ GHQ :LVVHQVFKDIWOHU PLW DQV )HQVWHU XQG EOLFNWH KLQDXV 6HLQHQ VFKDUIHQ$XJHQHQWJLQJNHLQH%HZHJXQJLP6XPSI(UNRQQWHMHGRFKQLFKWVHUNHQQHQ $OV HU MHGRFK VHLQH 2UWXQJVDQODJH HLQVHW]WH HPSILQJ HU VFKZDFKH ,PSXOVH 7HNHQHU ZDULUJHQGZRLP6XPSIXQWHUZHJV ³(U ZLOO XQV GHQ =HOODNWLYDWRU ZHJVFKQDSSHQ´ HUHLIHUWH VLFK .DPLWDUD ³:DUXP XQWHUQHKPHQ6LHQLFKWVGDJHJHQ"´ 6FKZHLJHQG OHJWH .HQQRQ GHQ %LRFKHPLNHU DXI GHQ %RGHQ XQG EHJDQQ LKQ ]X IHVVHOQ'LHEHUDOOLQGHU6WDWLRQYHUWHLOWHQ5RERWHUVDKHQWHLOQDKPVORV]X6LHKDWWHQ NHLQHEHVWLPPWHQ%HIHKOHHUKDOWHQXQGZUGHQQLFKWHLQJUHLIHQ .HQQRQ VFKRE VHLQHP *HIDQJHQHQ HLQHQ .QHEHO LQ GHQ 0XQG GDPLW HU QLFKW UXIHQNRQQWH ³,FK ZHUGH 6LH MHW]W DOOHLQ KLHU ]XUFNODVVHQ´ HUNOlUWH HU ,Q .DPLWDUDV $XJHQ VWDQGHLQHVWXPPH)UDJH(UKRIIWHQRFKLPPHUDXIGHQ*HZLQQGHV=HOODNWLYDWRUVXQG ZROOWHZLVVHQZDV.HQQRQYRUKDWWH .HQQRQ]|JHUWH 6ROOWH HU .DPLWDUD XQWHUULFKWHQ" (U HQWVFKLHG VLFK GDJHJHQ :DV MHW]W QRFK ]X WXQZDUJLQJQXU7HNHQHUXQGLKQHWZDVDQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
.HQQRQ ,FKVWHKHDXIGHU3ODWWIRUPXQGEOLFNHDXIGLH6XPSIODQGVFKDIWKLQDE:QVFKH LFKPLUXQEHZXWGD7HNHQHUHQWNRPPW"%HLNHLQHPDQGHUHQKlWWHLFKXQEHZXWGLH 9HUIROJXQJKLQDXVJH]|JHUW 'LH,PSXOVHYRQ7HNHQHUV)OXJDJJUHJDWVLQGLQ]ZLVFKHQYHUVWXPPWHLQVLFKHUHU %HZHLVGDHUHLQ9HUVWHFNJHIXQGHQXQGVLFKYHUNURFKHQKDW (VLVWVLQQORVZHQQLFKPLULUJHQGHWZDVYRUPDFKH7HNHQHUKDWGHQ$NWLYDWRU ,FK NDQQ GLH ,PSXOVH GHV ]HOOHUQHXHUQGHQ *HUlWHV VHLW HLQLJHU =HLW QLFKW PHKU VSUHQ :LH LVW HV P|JOLFK GD DXVJHUHFKQHW 7HNHQHU GHQ $NWLYDWRU IDQG" (V PX LUJHQGZLHPLWGHU.DWDVWURSKHDXIGHU9XONDQLQVHO]XVDPPHQKlQJHQ'RFKGDVLVWLP $XJHQEOLFNEHGHXWXQJVORV 7HNHQHU KDW GHQ $NWLYDWRU (U PX LKQ ]XUFNJHEHQ 'DV *HUl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lKUWHQ3DUWQHUDXVNRPPHQPX 1DWUOLFKZHUGHLFKELVGDKLQSV\FKLVFKVWDELOHUVHLQDEHULFKELQPLUGDUEHULP NODUHQGD7HNPHKUIUPLFKLVWDOVQXUHLQ.DPSIJHIlKUWHGHUVLFKELVKHXWHGXUFK JURH =XYHUOlVVLJNHLW DXV]HLFKQHWH ,P *UXQGH JHQRPPHQ JDUDQWLHUW 7HNHQHU PHLQH ([LVWHQ]HULVWGDVEHVWH9HQWLOIUPHLQHSV\FKLVFKHQ6FKZLHULJNHLWHQ 7URW]GHPZHUGHLFKLKQYHUIROJHQ ,FKKDEHHLQHQ$XIWUDJDXV]XIKUHQ 1RFKHLQPDOEOLFNHLFKLQV,QQHUHGHU6WDWLRQ'RUWOLHJWGHU.5$7$JHIHVVHOWDP %RGHQ6HLQH5ROOHLVWDXVJHVSLHOWHUZHLYHUPXWOLFKGDHUNHLQH&KDQFHPHKUKDW LQGHQ%HVLW]GHV=HOODNWLYDWRUV]XNRPPHQ 6NUXSHOORV KDW GHU .5$7$ 0HQVFKHQ XPEULQJHQ ODVVHQ XP LQ GHQ %HVLW] GHV NRVWEDUHQ*HUl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lQGHUW DXFK GLH 7DWVDFKHQLFKWVGDHUMHW]WZDKUVFKHLQOLFKHLQH:DIIHEHLVLFKKDW%HLDOOHPZDVDXI GHP6SLHOVWHKW7HNHQHUZUGHZDKUVFKHLQOLFKQLHPDOVDXIPLFKVFKLHHQ (U EHVLW]W MHGRFK :DIIHQ GLH PLU JHIlKUOLFKHU ZHUGHQ N|QQHQ DOV MHGHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
(QHUJLHVWUDKOHU 7HNHQHU NHQQW PLFK JHQDX (U NDQQ YRUDXVDKQHQ ZDV LFK WXQ ZHUGH NDQQ GLH HQWVSUHFKHQGHQ *HJHQPDQDKPHQ WUHIIHQ 1LFKW QXU GDV 7HNHQHU ZHL GD LFK VFKQHOODXVGHP*OHLFKJHZLFKW]XEULQJHQELQ(UNHQQWPHLQH6FKZlFKHQJHQDX1XU XPGHQ=HOODNWLYDWRU]XUHWWHQZLUGHUVLFKDXIHLQ3V\FKRGXHOOPLWPLUHLQODVVHQ 'DV EHGHXWHW GD LFK VHKU YRUVLFKWLJ XQG GRFK HQWVFKORVVHQ YRUJHKHQ PX :HQQ LFK LKQ HUVW JHIXQGHQ KDEH GDUI LFK NHLQH =HLW YHUOLHUHQ -HGHV =|JHUQ ZUGH 7HNHQHU*HOHJHQKHLW]XP$XVVSLHOHQHLQHV7UXPSIHVJHEHQ ,FKPXLKQEHUUXPSHOQ 'DVLVWOHLFKWJHVDJWGHQQHUZLUGPLFKIUKHUVHKHQDOVLFKLKQ (U ZLUG VHKHQ ZLH LFK PLFK VHLQHP 9HUVWHFN QlKHUH XQG LP HQWVFKHLGHQGHQ $XJHQEOLFNKDQGHOQ ,FK IOLHJH ODQJVDP ZHLWHU 0HLQH $XJHQ VXFKHQ GLH 6XPSIODQGVFKDIW XQWHU PLU DE (V ZLUG EDOG GXQNHO VHLQ GRFK GDV VW|UW PLFK QLFKW :lKUHQG GHU 1DFKW ELQ LFK 7HNHQHUVRJDUEHUOHJHQGHQQLFKNDQQDXFKLQY|OOLJHU'XQNHOKHLWVHKHQ 'HU 6XPSI ELHWHW ]DKOORVH 9HUVWHFNP|JOLFKNHLWHQ hEHUDOO JLEW HV 6FKODPPO|FKHUYHUZDFKVHQH%VFKHXQGPLW:XU]HOQEHU]RJHQH,QVHOQ ,UJHQZR XQWHU PLU NDXHUW 7HNHQHU XQG HUKROW VLFK YRQ VHLQHQ 6WUDSD]HQ (U LVW YHUZXQGHWXQGEUDXFKW1DKUXQJ7ULQNZDVVHUILQGHWHUXQWHU8PVWlQGHQLP6XPSIVHLQ .|USHU LVW JHJHQ GLH PHLVWHQ EHNDQQWHQ ,QIHNWLRQVNUDQNKHLWHQ LPPXQLVLHUW VR GD HU RKQH JURHV 5LVLNR DXFK GLH WUEH %UKH WULQNHQ NDQQ GLH VLFK GRUW XQWHQ LQ GHQ 6FKODPPO|FKHUQVDPPHOW ,FKYHUVXFKHPLFKLQ7HNHQHUV/DJH]XYHUVHW]HQ:HQQHVPLUJHOLQJWDOOVHLQH hEHUOHJXQJHQJHQDXPLW]XGHQNHQELQLFKLKPLQMHGHU%H]LHKXQJEHUOHJHQ (U ZHL GD LFK LKP IROJHQ ZHUGH GHQQ HU ZLUG HUNHQQHQ GD PLU VHLQ *HKHLPQLV QLFKW YHUERUJHQ EOHLEHQ NDQQ (U LVW 3V\FKRORJH JHQXJ XP DXFK PHLQ =|JHUQHLQSODQHQ]XN|QQHQ1LFKWQXUGDV7HNHQHUNHQQWGHQ*UXQGPHLQHV=|JHUQV (UZHLGDHUHLQHQJURHQSV\FKRORJLVFKHQ9RUWHLOEHVLW]W 'HVKDOE ZLUG HU PLFK PLW HLQHU JHZLVVHQ *HODVVHQKHLW HUZDUWHQ 9LHOOHLFKW ZLUG HU VRJDU ]X HLQHP 7ULFN JUHLIHQ XQG YRUJHEHQ GD HU DXIJHEHQ ZLOO 'DQQ ZHQQ LFK PLFKYROONRPPHQVLFKHUIKOHZLUGHUHUQHXW]XHQWNRPPHQYHUVXFKHQ 6RZUGHLFKYRUJHKHQ8QGLFKNDQQPLUYRUVWHOOHQGDLFKVHLQHhEHUOHJXQJHQ JHQDXQDFKHPSIXQGHQKDEH 'RFKMHW]WNRPPWGHU+DNHQEHLGHU6DFKH 7HNHQHU ZHL GD LFK LQ GHU /DJH ELQ VHLQH hEHUOHJXQJHQ QDFK]XHPSILQGHQ (UZLUGDOVRHWZDVWXQZRPLWLFKQLFKWUHFKQHHWZDVY|OOLJ8QRUWKRGR[HV (QWVSUHFKHQG PX LFK PLFK YHUKDOWHQ ,FK ZHUGH VR WXQ DOV ZWH LFK JHQDX ZDVHUYRUKDW'DVZLUGLKQLQVHLQHU6LFKHUKHLWEHVWlUNHQGHQQHUZLUGJODXEHQGDHU PLFKOHLFKWEHUUXPSHOQNDQQ'RFKZHQQLFKLKQHUZLVFKWKDEHZHUGHLFKEOLW]VFKQHOO KDQGHOQXQGLKQSDUDO\VLHUHQ'DQQZHUGHLFKLKPGHQ=HOODNWLYDWRUDEQHKPHQ $OOPlKOLFK ZLUG HV GXQNHO :HQQ PHLQH hEHUOHJXQJ ULFKWLJ LVW PWH 7HNHQHU QRFK YRU (LQEUXFK GHU 'XQNHOKHLW DXV GHP 9HUVWHFN KHUYRUNRPPHQ GHQQ HU NDQQ VHLQHQ3ODQQXUGDQQYHUZLUNOLFKHQZHQQHUPLFKQRFKVHKHQNDQQ 'RFKHVJHVFKLHKWQLFKWV,P6XPSIEOHLEWDOOHVUXKLJ 'HU6SLHOHUEOHLEWLQVHLQHP9HUVWHFN $EVLFKWOLFKJHKWHUGDV5LVLNRHLQZlKUHQGGHU1DFKWHQWGHFNW]XZHUGHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
0HLQH$XJHQVXFKHQQDFK,QIUDURWTXHOOHQ,FKELQVLFKHUGDLFKLKQIUKHURGHU VSlWHUILQGHQZHUGH
'LH:XU]HOQGLH7HNHQHUDXVGHP%RGHQULZDUHQ]lKXQGELHJVDP2EZRKO VHLQH+DQGIOlFKHQEOXWHWHQDUEHLWHWHGHU6SLHOHUYHUELVVHQZHLWHU'LH:XU]HOQGLHHU JHO|VW KDWWH IORFKW HU ]X HLQHP JURHQ 1HW] ]XVDPPHQ (LQHV GLHVHU *HELOGH ZDU EHUHLWVIHUWLJJHVWHOOW ,PPHU ZLHGHU XQWHUEUDFK 7HNHQHU VHLQH $UEHLW XP GLH 8PJHEXQJ PLW GHQ %OLFNHQDE]XVXFKHQ(UKDWWHQLFKWPHKUYLHO=HLW%DOGZUGHHVGXQNHOVHLQGDQQZDU HU.HQQRQKRIIQXQJVORVXQWHUOHJHQ 'HU $NWLYDWRU YHUOLHK 7HNHQHU XQJHDKQWH .UlIWH 8QWHU QRUPDOHQ 8PVWlQGHQ ZlUH HU OlQJVW ]XVDPPHQJHEURFKHQ (U VSUWH GD GLH ,PSXOVH GLH YRQ GHP *HUlW DXVJLQJHQ VHLQHQ .|USHU GXUFKVWU|PWHQ XQG KDOIHQ DOOH :XQGHQ VFKQHOO ]X KHLOHQ $XFKGLH0GLJNHLWZDUHUWUlJOLFK $OVHVIDVWGXQNHOZDUKDWWH7HNHQHUGDV]ZHLWH:XU]HOQHW]KHUJHVWHOOW (U EDQG EHLGH 1HW]H DQ VHLQH )H 9RUVLFKWLJ EHZHJWH HU VLFK YRQ GHU :XU]HOLQVHO LQ GHQ RIIHQHQ 6XPSI KLQDXV :LH HU HUZDUWHW KDWWH VDQN HU GDQN GHU :XU]HOQ DQ VHLQHQ )HQ QLFKW PHKU WLHI HLQ 'LH 1HW]H ZDUHQ VR EUHLW GD VLH HLQLJHUPDHQ +DOW IDQGHQ %HYRU 7HNHQHUV )H YHUVDQNHQ PDFKWH HU EHUHLWV GHQ QlFKVWHQ6FKULWW $XI GLHVH :HLVH NDP HU YRUDQ RKQH GHQ YHUUlWHULVFKHQ $QWLJUDYSURMHNWRU HLQVFKDOWHQ]XPVVHQ'DEHLDFKWHWHHUGDUDXIGDLKQVHLQ:HJLPPHULQGHU1lKH YRQ,QVHOQYRUEHLIKUWHGHQQGDZDUGHU%RGHQKDOEZHJVVWDELO =ZHLIHOORVKLHOW.HQQRQ$XVVFKDXQDFKVHLQHP9HUVWHFN 7HNHQHU JULQVWH :HQQ HU GLH JDQ]H 1DFKW PDUVFKLHUWH RKQH YRQ .HQQRQ HQWGHFNW ]X ZHUGHQ NRQQWH HU HLQHQ 9RUVSUXQJ HUULQJHQ GHQ .HQQRQ QLFKW PHKU HLQKROHQZUGH ,QQHUKDOE NXU]HU =HLW OHUQWH 7HNHQHU VHLQH SULPLWLYHQ 6FKXKH ULFKWLJ ]X JHEUDXFKHQ (U NDP MHW]W VFKQHOOHU YRUDQ (LQ SDDUPDO GURKWH HU WLHIHU HLQ]XVLQNHQ GRFK GXUFK JHVFKLFNWHV 9HUODJHUQ VHLQHV .|USHUJHZLFKWV NRQQWH HU VLFK MHGHVPDO EHIUHLHQ RKQH GHQ $QWLJUDYSURMHNWRU HLQVHW]HQ ]X PVVHQ (U DKQWH GD .HQQRQ SDXVHQORV RUWHWH GHVKDOE ZROOWH HU GDV )OXJDJJUHJDW QXU LP lXHUVWHQ 1RWIDOO EHQXW]HQ (U EHUOHJWH ZDV .HQQRQ MHW]W WXQ ZUGH (V ILHO LKP QLFKW VFKZHU VLFK LQ GLH *HGDQNHQ GHV *HKLUQV ]X YHUVHW]HQ =ZHLIHOORV ZUGH .HQQRQ ]XQlFKVW GDV *HELHW XPGLH6WDWLRQDEVXFKHQ (VZXUGHGXQNHO7HNHQHUJLQJZHLWHUREZRKOHUNDXPQRFKHWZDVVDK -HW]W PXWH HU VLFK Y|OOLJ DXI GDV *HIKO VHLQHU )H YHUODVVHQ :HQQ GHU 8QWHUJUXQG]XZHLFKZXUGHlQGHUWHHUGLH5LFKWXQJ (LQ SDDUPDO YHUILQJ HU VLFK LQ :XU]HOQ XQG VWU]WH ]X %RGHQ $XFK GLHVH =ZLVFKHQIlOOH NRQQWHQ LKQ QLFKW DXIKDOWHQ 1DFK HLQ SDDU 6WXQGHQ HUUHLFKWH HU HLQH JURH,QVHOGHUHQ%RGHQVHKUIHVWZDU(UUXKWHVLFKDXVXQGJLQJGDQQZHLWHU6HLQH 9HUOHW]XQJHQ EHUHLWHWHQ LKP NDXP QRFK 6FKZLHULJNHLWHQ 'HU =HOODNWLYDWRU ZDU HLQ ZXQGHUEDUHV*HUlW7HNHQHUXPVFKORHVPLWGHQ+lQGHQXQGSUHWHHV
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³1XQ.HQ´IOVWHUWHHULQGLH'XQNHOKHLW³:RELVWGX"´
0LWWHQ LQ GHU 1DFKW HQWGHFNWH .HQQRQ GLH 6SXU VHLQHV 3DUWQHUV (U VWLH HLQHQ $XVUXIGHU%HZXQGHUXQJDXV7HNHQHUKDWWHVHLQ9HUVWHFNOlQJVWYHUODVVHQ'D]XKDWWH HU MHGRFK QLFKW GDV )OXJDJJUHJDW EHQXW]W VRQGHUQ HLQ 3DDU LQ DOOHU +DVW KHUJHVWHOOWH :XU]HOVRKOHQ 'LH 6SXU VWUDKOWH QXU QRFK VFKZDFKH ,QIUDURWLPSXOVH DXV HLQ VLFKHUHU %HZHLVGD7HNHQHUVFKRQYRUODQJHU=HLWKLHUYRUJHNRPPHQZDU .HQQRQ IROJWH GHU 6SXU RKQH EHVRQGHUH (LOH -HW]W GD HU VLH JHIXQGHQ KDWWH ZUGHHU7HNHQHUIUKHURGHUVSlWHUHLQKROHQ 'HU*HGDQNHDQHLQ=XVDPPHQWUHIIHQZDUQLFKWHUIUHXOLFK .HQQRQEHIUFKWHWHGDGDV$EHQWHXHUDXI.KD]DJOHLFK]HLWLJGDV(QGHVHLQHU ODQJMlKULJHQ)UHXQGVFKDIWPLW7HNHQHUVHLQZUGH(UKDWWHMHGRFKNHLQHlQGHUH:DKO DOVGLH9HUIROJXQJIRUW]XVHW]HQ7HNHQHUKlWWHDQVHLQHU6WHOOHQLFKWDQGHUVJHKDQGHOW %LVKHU KDWWH .HQQRQ LPPHU JHJODXEW DOOHV EHU 7HNHQHU ]X ZLVVHQ (U NDQQWH VRJDUGHQ,QKDOWGHVGHU862YRUOLHJHQGHQ3V\FKRJUDPPVYRQ7HNHQHU ,Q*HGDQNHQYHUVXQNHQIORJ.HQQRQZHLWHU *HJHQ0RUJHQZXUGHGLH6SXULPPHUGHXWOLFKHU.HQQRQZXWHGDHUVHLQHQ )UHXQGHLQJHKROWKDEHQZUGHEHYRUGLH6RQQHDXIJLQJ
2EZRKO HU LPPHU EHVVHU YRUDQNDP ZDU 5RQDOG 7HNHQHU IURK DOV HU GDV (QGH GHV6XPSIHVHUUHLFKWH(VZDUQRFKLPPHUYROONRPPHQGXQNHOVRGDHUQLFKWVHKHQ NRQQWHZLHGDV/DQGYRULKPDXVVDK(UZXUGHVLFKEHZXWGDHUQRFKQLFKWHLQPDO ZXWH DXI ZHOFKHP .RQWLQHQW GHV 3ODQHWHQ HU VLFK EHIDQG :DKUVFKHLQOLFK ODJ GHU DXVJHGHKQWH6XPSIDXVGHPHUHQWNRPPHQZDULQGHPXQHUIRUVFKWHQ1RUGNRQWLQHQW &XQ]RUWKD $OOHVZDV7HNHQHUELVKHUEHUGLHVHQ.RQWLQHQWJHK|UWKDWWHOLHLKQ*HIDKUHQ DOOHU$UWEHIUFKWHQ (U ]RJ GLH 6WUDKOHQZDIIH YRQ GHU 6FKXOWHU XQG HQWVLFKHUWH VLH 9RUVLFKWLJ EHZHJWH HU VLFK GXUFK GLH 'XQNHOKHLW (U GDFKWH NDXP QRFK DQ .HQQRQ GHQQ HU ZDU VLFKHUGDHUVHLQHQ)UHXQGDEJHVFKWWHOWKDWWH 'DV JOHLFKPlLJH 3RFKHQ GHV =HOODNWLYDWRUV ZDU IDVW VFKRQ ]XU *HZRKQKHLW JHZRUGHQ 'DV *HIKO HLQ VROFKHV *HUlW ]X EHVLW]HQ HUIOOWH 7HNHQHU PLW WLHIHU =XIULHGHQKHLW $OOPlKOLFK EHJDQQ HU ]X EHJUHLIHQ GD HU VHLQHQ %HVLW] HLQHP ZXQGHUEDUHQ (UHLJQLV YHUGDQNWH (U YHUPXWHWH GD GHU $NWLYDWRU HLQHQ 6HQVRU EHVD GHU LKQ YRU .DWDVWURSKHQ VFKW]HQ VROOWH 9HUPXWOLFK ZDU GDV *HUlW QXU DXV VHLQHP 9HUVWHFN JHNRPPHQZHLOGHU8QWHUJDQJGHU6WDWLRQXQPLWWHOEDUEHYRUJHVWDQGHQKDWWH 7HNHQHUVWLHJHJHQHLQHQ6WHLQXQGVWU]WHYRUQEHU(UOLHGLH:DIIHORVXQG ILQJ GHQ 6WXU] PLW GHQ +lQGHQ DE )OXFKHQG ULFKWHWH HU VLFK ZLHGHU DXI (U PXWH YRUVLFKWLJHUVHLQ 9RQGLHVHP$XJHQEOLFNDQHUK|KWHHUVHLQH$XIPHUNVDPNHLW 1DFK HLQHU :HLOH EOLHE HU VWHKHQ XQG KRE GHQ .RSI 6HLQH 1DVH QDKP HLQHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
*HUXFKDXIGHULKPQLFKWXQEHNDQQWZDU 'HQ*HUXFKYRQ=RRQ 7HNHQHUJLQJZHLWHU 'HU *HUXFK ZXUGH LPPHU GXUFKGULQJHQGHU :HQLJ VSlWHU K|UWH 7HNHQHU GHQ /lUPHLQLJHUJURHU9|JHO6LHPXWHQVLFKLQVHLQHUXQPLWWHOEDUHQ1lKHDXIKDOWHQ (VZDUP|JOLFKGDHVZLOGH7LHUHZDUHQGLHLKQVRIRUWDQJUHLIHQZUGHQZHQQ HU QlKHU DQ VLH KHUDQNDP :DKUVFKHLQOLFKHU ZDU MHGRFK GD HV VLFK XP GUHVVLHUWH 9|JHOKDQGHOWHGLHVLFKLQLKUHQ8QWHUNQIWHQQDKHHLQHU6LHGOXQJDXIKLHOWHQ 0LWVFKXEHUHLWHU:DIIHJLQJ7HNHQHUZHLWHU ,Q GLHVHP $XJHQEOLFN ZXUGH GLH 1DFKW YRP %OLW] HLQHU ([SORVLRQ HUKHOOW 'LH JUHOOH+HOOLJNHLWGDXHUWHQXUGHQ%UXFKWHLOHLQHU6HNXQGHJHQJWHDEHUXP7HNHQHUGLH 8PULVVHHLQHU=RRQ)DUPHUNHQQHQ]XODVVHQ 'HP /LFKWEOLW] IROJWH ODQJDQKDOWHQGHU 'RQQHU LQ GHQ VLFK GDV *HVFKUHL GHU LQ 3DQLNJHUDWHQHQ7LHUHPLVFKWH 7HNHQHUEOLHEZLHHUVWDUUWVWHKHQ (UEHJULIIGDGLH6WDWLRQLP6XPSILQGLH/XIWJHIORJHQZDU
=XU JOHLFKHQ =HLW ZDU .HQQRQ QRFK ]ZHLHLQKDOE 0HLOHQ YRQ GHU =RRQ)DUP HQWIHUQW$XFKHUKLHOWDQDOVGLHJHZDOWLJH([SORVLRQHUIROJWH (U IUDJWH VLFK ZDV GLH .DWDVWURSKH DXVJHO|VW KDEHQ NRQQWH 6ROOWH HV GHP .5$7$ JHOXQJHQ VHLQ VLFK YRQ VHLQHQ )HVVHOQ ]X EHIUHLHQ XQG HLQH 6HOEVWYHUQLFKWXQJVVFKDOWXQJ]XEHWlWLJHQ" (VZDUGHQNEDUGD.DPLWDUDDXIVHLQHOHW]WH8QWHUNXQIWYHU]LFKWHWHXPVHLQHQ 7RG YRUWlXVFKHQ ]X N|QQHQ .HQQRQ EUDXFKWH QLFKW ]X GHU .DWDVWURSKHQVWHOOH ]XUFN]XNHKUHQXP]XZLVVHQGDYRQGHP*HELOGHLP6XPSIQLFKWVPHKUEULJZDU 'LH)UDJHZDUQXURE.5$7$GLH([SORVLRQEHUOHEWKDWWH .HQQRQ]|JHUWH 6ROOWH HU MHW]W QDFK GHP :LVVHQVFKDIWOHU VXFKHQ RGHU GLH 9HUIROJXQJ 7HNHQHUV IRUWVHW]HQ" (U KLHOW HV IU ZDKUVFKHLQOLFK GD GHU .5$7$ XPJHNRPPHQ ZDU 'LH .DWDVWURSKH KLQJ ZDKUVFKHLQOLFK PLW GHP (QGH GHU 9XONDQLQVHO ]XVDPPHQ 'LH 7UDQVPLWWHUYHUELQGXQJ]XU]ZHLWHQ6WDWLRQZDUQDFKGHU$QNXQIWGHUGUHL0lQQHUQLFKW XQWHUEXQGHQZRUGHQ(VZDUGHQNEDUGDHLQhEHUVFKODJEOLW]GDV*HElXGHLP6XPSI YHUQLFKWHWKDWWH%HLXQYRUVLFKWLJHU6FKDOWXQJYRQ7UDQVPLWWHUQNDPHVLPPHUZLHGHU]X =ZLVFKHQIlOOHQ (VZXUGHZLHGHUVWLOOQXUGLH*HUlXVFKHGHV6XPSIHVZDUHQQRFK]XK|UHQ ³7HNHQHU´VDJWH.HQQRQODXW 'DPLWZDUGLH(QWVFKHLGXQJJHIDOOHQ 'HU0DQQPLWGHP5RERWN|USHUIROJWHGHU6SXULP6XPSI:HQLJVSlWHUHUUHLFKWH HU GDV 8IHU 7HNHQHU PXWH QRFK LQ GHU 1lKH VHLQ $XI GHP KDUWHQ %RGHQ ZDUHQ GLH ,QIUDURWVSXUHQVFKZHU]XHQWGHFNHQ .HQQRQ VDK HLQLJH SULPLWLYH *HElXGH XQG 6WDOOXQJHQ 8QPLWWHOEDU QHEHQ GHP 6XPSI ODJ HLQH =RRQ)DUP (V ZDU MHGRFK NHLQ HLQ]LJHU 9RJHO ]X VHKHQ $XI GHU DQGHUHQ 6HLWH GHU )DUP UDQQWHQ HLQ SDDU YHUZLUUWH .UDWDPRQHQ YRQ *HElXGH ]X
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
*HElXGH .HQQRQNRQQWHVLFKDXVUHFKQHQZDVJHVFKHKHQZDU 'LH ([SORVLRQ KDWWH GLH =RRQ ZLOG JHPDFKW %HYRU GLH .UDWDPRQHQ UHDJLHUW KDWWHQZDUHQLKUH9|JHODXVJHEURFKHQ .HQQRQODQGHWHXQGIROJWH7HNHQHUV6SXU 6LHHQGHWHXQPLWWHOEDUYRUGHP)DUPJHOlQGH ,UULWLHUWEOLHEGHU8626SH]LDOLVWVWHKHQ +DWWH 7HNHQHU VHLQHQ $QWLJUDYSURMHNWRU EHQXW]W" 'DV ZDU XQZDKUVFKHLQOLFK GHQQGDQQKlWWH.HQQRQGLH,PSXOVHGHV*HUlWHVRUWHQPVVHQ .HQQRQ VWDUUWH DXI GHQ %RGHQ (U VDK HLQ *HZLUU YRQ ,QIUDURWVSXUHQ 7HNHQHU NRQQWH VLH QLFKW DOOHLQ YHUXUVDFKW KDEHQ :DKUVFKHLQOLFKHU ZDU GD VLH YRQ =RRQ VWDPPWHQ )U.HQQRQVWDQGGDPLWIHVWGD7HNHQHUHQWNRPPHQZDU'HU6SLHOHUKDWWHGLH *XQVW GHV =XIDOOV JHQXW]W (V JDE NDXP QRFK =ZHLIHO GD HU VHLQH )lKLJNHLWHQ DOV %RPEHUSLORWGD]XEHQXW]WKDWWHPLWHLQHP=RRQ]XHQWNRPPHQ 7HNHQHU 'LH =RRQ UHQQHQ DXIJHUHJW GXUFKHLQDQGHU 'LH 7LHUH KDEHQ MHGH hEHUVLFK YHUORUHQ $P 5DQGH GHU )DUP K|UH LFK .UDWDPRQHQ VFKUHLHQ 6LH HQW]QGHQ )DFNHOQ VR GD LFK (LQ]HOKHLWHQ HUNHQQHQ NDQQ 'LH 9|JHO JHElUGHQ VLFK ZLH YHUUFNW 'LH PHLVWHQ YRQ LKQHQ VLQG GXUFK GHQ ([SORVLRQVEOLW] JHEOHQGHW (LQ SDDU SUDOOHQ JHJHQ =lXQHXQG*HElXGH$QGHUHIOLHJHQKRFKXQGVWU]HQVRIRUWZLHGHUDE ,PPHUPHKU)DFNHOQZHUGHQHQW]QGHWDEHUGLH=FKWHUZLVVHQRIIHQEDUQLFKW ZLH VLH GHU /DJH +HUU ZHUGHQ VROOHQ 6LH VLQG QLFKW ZHQLJHU YHUVW|UW DOV GLH 7LHUH ,P XQJHZLVVHQ/LFKWVHKHLFKHLQHQMXQJHQ=RRQDXIPLFK]XNRPPHQ7URW]VHLQHU-XJHQG VLQGEHUHLWV6DWWHOQDUEHQDXIVHLQHP5FNHQ]XVHKHQ ,FK VFKUHLH LKP HLQHQ ODXWHQ %HIHKO ]X =X PHLQHU hEHUUDVFKXQJ UHDJLHUW GDV 7LHU(VIlKUWKHUXPXQGNRPPWDXIPLFK]X 'DVLVWPHLQH&KDQFH ,FKUXIHGHP=RRQHLQSDDUEHUXKLJHQGH:RUWH]X(VKDWNHLQHQ6LQQMHW]WQRFK ODQJH]XEHUOHJHQ(QWVFKORVVHQVFKZLQJHLFKPLFKDXIGHQ5FNHQGHV7LHUHV'DQQ VFKUHLHLFKHLQHQ%HIHKO'HU=RRQEHZHJWVLFKXQUXKLJ(ULVWEHUQHUY|V 2KQHGHQ6DWWHOLVWHLQ=RRQNDXP]XGLULJLHUHQEHVRQGHUVGDQQQLFKWZHQQHU VLFKVRQHUY|VYHUKlOWZLHGLHVHUMXQJH9RJHO'RFKGXUFKHUPXQWHUQGH=XUXIHEULQJH LFK LKQ GD]X YRP %RGHQ DE]XKHEHQ ,FK ELQ PLU GDUEHU LP NODUHQ GD LFK GLH 5LFKWXQJQLFKWEHVWLPPHQNDQQGHQQGLH=JHOIHKOHQHEHQIDOOV 'DV7LHUIOLHJWGLFKWEHUGLH)DUPGDKLQ8QWHUPLUIODFNHUQGLH)DFNHOQLP:LQG 'LH.UDWDPRQHQKHOIHQHLQHPDEJHVWU]WHQ9RJHOZLHGHUDXIGLH%HLQH +RIIHQWOLFKNRPPWGDV7LHUQLFKWDXIGLH,GHHZLHGHU]XU)DUP]XUFN]XIOLHJHQ ZHQQHVVLFKHQGJOWLJEHUXKLJWKDW ³*HUND´VFKUHLHLFKHUPXQWHUQG³*HUND*HUND´ 'DV VFKHLQW GHQ =RRQ DQ]XVSRUQHQ (U KDW ]ZHLIHOORV EHUHLWV HLQH JXWH $XVELOGXQJKLQWHUVLFK+LQWHUPLUYHUEODVVHQGLH/LFKWHU:LUIOLHJHQMHW]WLQIDVWY|OOLJHU 'XQNHOKHLW'DV7LHUNDQQVLFKMHGRFKJXWRULHQWLHUHQ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
,FKELQJHVSDQQWZRKLQHVPLFKEULQJHQZLUG $XIMHGHQ)DOODXVGHU1lKH6LQFODLU0.HQQRQV .HQQRQ ,FK KDEH HLQH 1LHGHUODJH HUOLWWHQ (V EHVWHKW GLH *HIDKU GD $WODQ PLU QLFKW JODXEHQZLUGZHQQLFKLKPEHULFKWHGD7HNHQHUPLURKQHPHLQ'D]XWXQHQWNRPPHQ LVW%HLGHU862ZLUGGHU9HUGDFKWDXIWDXFKHQGDLFKPHLQHQ3DUWQHUJHGHFNWKDEH :DVVROOLFKMHW]WWXQ" 7HNHQHU ]X VXFKHQ LVW Y|OOLJ VLQQORV 6HLW GHU $NWLYDWRU DQ VHLQHU %UXVW KlQJW VHQGHWGDV*HUlWNHLQH,PSXOVHPHKUDXVVRGDLFKHVQLFKWRUWHQNDQQ )UPLFKLVWHVJOHLFKJOWLJZDVLFKWXH ,FKEHWlWLJHPHLQN|USHUHLJHQHV)XQNJHUlWXQGUXIH%LJ%HQ6SHFLDO 'LH$QWZRUWNRPPWZHQLJH$XJHQEOLFNHVSlWHU'HU6LJDQHVHKlOWVLFKDXIHLQHP DQGHUHQ .RQWLQHQW DXI (U ZLUG GRUW EOHLEHQ ELV HLQ 6FKLII GHU 862 LP 6\VWHP YRQ 5DWRV(ERUDXIWDXFKW,FKUHFKQHPLWGHU$QNXQIWHLQHV6FKLIIHVLQGUHLRGHUYLHU7DJHQ ,Q $QEHWUDFKW GHU :LFKWLJNHLW XQVHUHU 0LVVLRQ GUIWH $WODQ SHUV|QOLFK DXI .KD]D DQNRPPHQ ,FK ZHUGH LKP EHULFKWHQ GD GHU .5$7$ PLW JURHU :DKUVFKHLQOLFKNHLW GHQ7RGJHIXQGHQKDW$XHUGHPZHUGHLFKLKPVDJHQGDHLQHUVHLQHUDXVJHVDQGWHQ 6SH]LDOLVWHQGHQ=HOODNWLYDWRUJHIXQGHQKDWLKQDEHUIUVLFKEHKDOWHQP|FKWH
,Q GHQ QlFKVWHQ YLHU 7DJHQ VXFKWH .HQQRQ LQ DOOHU +HLPOLFKNHLW GHQ JHVDPWHQ .RQWLQHQWQDFK7HNHQHUDE 'LH 9HUVWHFNP|JOLFKNHLWHQ ZDUHQ QLFKW ]X ]lKOHQ .HQQRQ NHKUWH ]XU .VWH ]XUFNVXFKWHVLFKHLQHEHTXHPH+|KOHXQGZDUWHWH $P1DFKPLWWDJGHVIQIWHQ7DJHVHPSILQJHUHLQHYHUVFKOVVHOWH)XQNERWVFKDIW 6LHZDUVRVWDUNGDVLHQLFKWYRQ%LJ%HQ6SHFLDOVNOHLQHP*HUlWNRPPHQNRQQWH .HQQRQ WUDW DXV GHU +|KOH 'LH 6RQQH VWDQG WLHI EHU GHP 0HHU ,Q GHU 1DFKW ZDUHLQ6WXUPWLHIYRUEHLJH]RJHQXQGKDWWHGDV:DVVHUDXIJHZKOW 'HU0DQQPLWGHP5RERWN|USHUVWUDKOWHHLQHQRIIHQHQ)XQNVSUXFKDE-HW]WGD GHU.5$7$WRWZDUEHGHXWHWHGDVNHLQH*HIDKUPHKU (U PHOGHWH VHLQH 3RVLWLRQ DQ GDV 8626FKLII GDV LQ GDV 5DWRV(ERU6\VWHP HLQJHIORJHQZDU 'LH$QWZRUWNDPVRIRUW $WODQPHOGHWHVLFKSHUV|QOLFK ³+DOOR.HQQRQ:LUVLQGJHNRPPHQZHLOZLUNHLQH9HUELQGXQJPHKUPLWGHU8. 9LHUXQGQHXQ]LJEHNDPHQ:DVLVWJHVFKHKHQ"´ ³'DV 6FKLII H[LVWLHUW QLFKW PHKU´ EHULFKWHWH .HQQRQ ³,FK EHIUFKWH GD DOOH %HVDW]XQJVPLWJOLHGHUXPJHNRPPHQVLQG´ ³:LHNRQQWHGDVJHVFKHKHQ"´ ³'HU .5$7$ UHFKQHWH PLW HLQHP (LQJUHLIHQ GHU 862 (U KDWWH ]DKOUHLFKH 6LFKHUKHLWVPDQDKPHQJHWURIIHQ8QWHUDQGHUHPEHVDHUHLQHQ6RQQHQVDWHOOLWHQGHU XQVHU 6FKLII ]HUVW|UWH´ $OV $WODQ QLFKW DQWZRUWHWH IJWH .HKQRQ KLQ]X ³-HW]W LVW GHU
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
.5$7$WRW,FKKDEHVHLQ(QGH]ZDUQLFKWPLWHUOHEWDEHUJHVHKHQGDGLH6WDWLRQLQ GHULFKLKQJHIHVVHOW]XUFNJHODVVHQKDEHLQGLH/XIWJHIORJHQLVW´ ³+DEHQ6LHGHQ$NWLYDWRU"´IUDJWH$WODQZHLWHU ³7HNKDWLKQ´HUZLGHUWH.HQQRQ]|JHUQG ³:RLVWGDGHU8QWHUVFKLHG"´ ³(V LVW YLHOOHLFKW EHVVHU ZHQQ 6LH PLW HLQHP %HLERRW ODQGHQ´ PHLQWH .HQQRQ ³,FKZHUGH,KQHQDOOHVHUNOlUHQ´ ³6WLPPWHWZDVQLFKW"´ .HQQRQ GHU YHUPHLGHQ ZROOWH GD GLH JHVDPWH %HVDW]XQJ GHV HLQJHWURIIHQHQ 8626FKLIIHVGLH:DKUKHLWHUIXKUZLFKHUQHXWDXV ³(LQLJHXQHUIUHXOLFKH'LQJHVLQGJHVFKHKHQ´ -HW]WYHUVWDQGGHU$UNRQLGH ³%OHLEHQ6LHZR6LHVLQG:LUZHUGHQ6LHKROHQ´ ³.PPHUQ 6LH VLFK ELWWH DXFK XP %LJ %HQ 6SHFLDO´ VDJWH .HQQRQ ³(U LVW QLFKW EHL PLU VRQGHUQ KlOW VLFK DXI HLQHP DQGHUHQ .RQWLQHQW DXI 6LH N|QQHQ PLW LKP LQ )XQNYHUELQGXQJWUHWHQ´ 'DPLWZDUGDV*HVSUlFKYRUOlXILJ]X(QGH 'DZDUGHU&KHIGHU862(UNDPXPVLFKGDYRQ]XEHU]HXJHQREGUHLVHLQHU EHZlKUWHQ6SH]LDOLVWHQHLQHQ$XIWUDJDXVJHIKUWKDWWHQ 'RFKHLQHUGHUGUHL6SH]LDOLVWHQZDUYHUVFKZXQGHQ .HQQRQDKQWHGD$WODQGDVQLFKWKLQQHKPHQNRQQWH (VZDUGHQNEDUGD7HNHQHUVHLQHOJHQHV7RGHVXUWHLOJHVSURFKHQKDWWH .HQQRQEHJDQQVLFK6RUJHQXPVHLQHQ3DUWQHU]XPDFKHQ(UEHUOHJWHREHV NHLQH0|JOLFKNHLWJDEHLQHSODXVLEOH*HVFKLFKWH]XHUILQGHQ'RFKGD]XZDUHVVFKRQ ]XVSlW(UKDWWHGHP$UNRQLGHQJHJHQEHUEHUHLWVHUZlKQWGD7HNHQHULP%HVLW]GHV =HOODNWLYDWRUVZDU .HQQRQNRQQWHEHVWHQIDOOVQRFKXP9HUVWlQGQLVIU7HNHQHUELWWHQ 'DEHL JHVWDQG HU VLFK NRQQWH HU GLH +DQGOXQJVZHLVH VHLQHV )UHXQGHV VHOEVW QLFKWYHUVWHKHQ (UZDUVRLQVHLQHhEHUOHJXQJHQYHUWLHIWGDHUGHQDQNRPPHQGHQ*OHLWHUHUVW VDKDOVHUIDVWJHODQGHWZDU $WODQNDPDOOHLQ .HQQRQJLQJDXIGLH0DVFKLQH ]XXQGZLQNWH'LHNOHLQH6FKOHXVH|IIQHWHVLFK $WODQNOHWWHUWHKLQDXV (UEHJUWHGHQ.ULPLQDOLVWHQ ³6LHEUDXFKHQVLFKNHLQH6RUJHQXP%LJ%HQ]XPDFKHQ´VDJWHHU]X.HQQRQ ³'HU6LJDQHVHZLUGLQ]ZLVFKHQYRQHLQHPDQGHUHQ%HLERRWDEJHKROW´ (UEOLFNWHVLFKXP ³:RLVW7HNHQHU"´6HLQH%OLFNHIDQGHQGLH+|KOHLP+LQWHUJUXQG(UJLQJGDUDXI ]X ³:DKUVFKHLQOLFK VFKOlIW HU 'DV ZUGH LKP lKQOLFK VHKHQ $XI MHGHQ )DOO NDQQ LFK ,KQHQGD]XJUDWXOLHUHQGD6LHGHQ.5$7$DXVJHVFKDOWHWKDEHQ´ (UXQWHUEUDFKVLFKGHQQ.HQQRQV6FKZHLJHQPDFKWHLKQVWXW]LJ ³:DVLVW":ROOHQ6LHPLUQLFKWHQGOLFKHUNOlUHQZDV6LHEHGUFNW"´ ³(VJHKWXP7HN(ULVWQLFKWKLHU´ ³:DV"´ HQWIXKU HV $WODQ ³,VW HU YHUVFKZXQGHQ" :LU ZHUGHQ VRIRUW HLQH 6XFKDNWLRQVWDUWHQ9LHOOHLFKWEUDXFKW7HNHQHU+LOIH´
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
.HQQRQ PHUNWH GD GHU $UNRQLGH LKQ QRFK LPPHU QLFKW YHUVWDQG $WODQ NRQQWH VLFKRIIHQEDUQLFKWYRUVWHOOHQZDVWDWVlFKOLFKSDVVLHUWZDU ³5RQDOGKDWRIIHQEDUGLH1HUYHQYHUORUHQ/RUGDGPLUDO(UKDWVLFKGHQ$NWLYDWRU DQJHHLJQHWXQGLVWGDPLWYHUVFKZXQGHQ,FKKDEHVHLQH6SXUYHUORUHQ´ ³(VOLHJWDQGHP$NWLYDWRU´YHUVXFKWHHU]XHUNOlUHQ³,FKQHKPHDQGDHVZLH HLQ5DXVFKEHULKQJHNRPPHQLVW´ ³:DQQKDWHUGDV*HUlWEHNRPPHQ"´IUDJWH$WODQUXKLJ ³9RUIQI7DJHQ´VDJWH.HQQRQ ³8QG6LHKDEHQLKQZlKUHQGGLHVHU=HLWQLFKWILQGHQN|QQHQ"´ ³1HLQ/RUGDGPLUDO,FKKDEHGHQJHVDPWHQ.RQWLQHQWDEJHVXFKW´ ³6LHZHUGHQGDUEHUQRFKHLQHQGHWDLOOLHUWHQ%HULFKWDE]XJHEHQKDEHQ.HQQRQ´ ³'DUEHUELQLFKPLULPNODUHQ´ $WODQV6WLPPHZXUGHHWZDVYHUV|KQOLFKHU ³:HQQ7HNHQHUGHQ=HOODNWLYDWRUVHLWIQI7DJHQEHVLW]WGDXHUWHVQXUQRFK]ZHL 7DJHELVGDV*HUlWHQGJOWLJDXIVHLQH,QGLYLGXDOLPSXOVHDEJHVWLPPWLVW'DQQZLUGHU VWHUEHQZHQQLKPMHPDQGGHQ$NWLYDWRUDEQLPPW´ ³,FKZHL´ ³6LHV\PSDWKLVLHUHQPLWLKP"´ ³,FKZHLHVQLFKW´JHVWDQG.HQQRQ³6HLQH9HUKDOWHQVZHLVHLVWYHUZHUIOLFK,FK KDEHNHLQ9HUVWlQGQLVGDIU8QEHZXWKDEHLFKPLFKMHGRFKPLWDOOHPDEJHIXQGHQ´ ³1LHPDQG K|UW XQV ]X´ PHLQWH $WODQ ³:LU N|QQHQ JDQ] YHUWUDXOLFK PLWHLQDQGHU UHGHQ+DEHQ6LHLKQDEVLFKWOLFKHQWNRPPHQODVVHQ"´ ³1HLQ´.HQQRQV(QWUVWXQJZDUQLFKWJHVSLHOW³,FKKDEHLKQGXUFKHLQHQ6XPSI YHUIROJW$OVLFKLKQIDVWHLQJHKROWKDWWHNDPLKPGHU=XIDOO]X+LOIH´ 'HU0DQQPLWGHP5RERWN|USHUVFKLOGHUWHLQDOOHQ(LQ]HOKHLWHQZDVJHVFKHKHQ ZDU$WODQK|UWHVFKZHLJHQG]X 6FKOLHOLFKVDJWHHU ³'DVK|UWVLFKORJLVFKDQ:DVZUGHQ6LHDQPHLQHU6WHOOHWXQ.HQQRQ"´ ³(LQHVFKZHUH)UDJH´ ³:DVZUGHQ6LHWXQ"´ 'DUDXIZXWH.HQQRQNHLQH$QWZRUW ³,FK NDQQ PHKUHUH 6FKLIIH LQ GLHVHV 6\VWHP EHRUGHUQ XQG 7HNHQHU YRQ GHQ %HVDW]XQJHQ VXFKHQ ODVVHQ 9LHOOHLFKW KlWWHQ HLQ SDDU WDXVHQG 0lQQHU (UIROJ DXFK ZHQQLKQHQQDFKLKUHU$QNXQIWZDKUVFKHLQOLFKQXUQRFKHLQSDDU6WXQGHQ=HLWEOLHEHQ 9LHOOHLFKWVWHOOW5KRGDQPLUVRJDUHLQHQ0XWDQWHQ]XU9HUIJXQJREZRKOLFKPLUGDYRQ QLFKW YLHO YHUVSUHFKH 7HNHQHU LVW PHQWDOVWDELOLVLHUW XQG NHQQW VR ]LHPOLFK DOOH 7ULFNV´ $WODQ VFKWWHOWH GHQ .RSI ³,FK JODXEH QLFKW GD HLQH RUJDQLVLHUWH 6XFKH (UIROJ KlWWH 'LH =HLW LVW ]X NQDSS :HQQ LFK GHQ $NWLYDWRU KDEHQ ZLOO PX LFK LKQ 7HNHQHU DEQHKPHQZHQQHUQDFK$EODXIGHU6LFKHUKHLWVIULVWDXIWDXFKHQVROOWH´ ³*ODXEHQ6LHGD7HNHQHUQDFKVLHEHQ7DJHQ]XUFNNRPPHQZLUG"´ ³,FKQHKPHHVDQ´HUZLGHUWH.HQQRQ $WODQZDQGWHVLFKGHP*OHLWHU]X ³,FKZHUGHHLQHQ)XQNVSUXFKDEVHW]HQ´NQGLJWHHUDQ³6LHXQGLFKZHUGHQGLH QlFKVWHQ 7DJH GDPLW ]XEULQJHQ 7HNHQHU ]X VXFKHQ 9LHOOHLFKW KDEHQ ZLU *OFN XQG VFKDIIHQHVQRFKUHFKW]HLWLJ´ .HQQRQQLFNWHDEHUHUJODXEWHQLFKWDQHLQHQ(UIROJ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
³:lKUHQG GLHVHU ]ZHL 7DJH ZHUGH LFK YLHO =HLW ]XP 1DFKGHQNHQ KDEHQ´ $WODQ NOHWWHUWHLQGHQ*OHLWHU³,FKZHUGHHLQH(QWVFKHLGXQJWUHIIHQPVVHQ´ 7HNHQHU 1RFKHLQ7DJ ,FKYHUODVVHPHLQHQ8QWHUVFKOXSILQGHPNOHLQHQ7DOVGOLFKGHVJURHQ8UZDOGV XQG EHZHJH PLFK YRUVLFKWLJ DXI GHQ %DFK ]X GHU GDV 7DO GXUFKVFKQHLGHW ,Q GHQ OHW]WHQ 7DJHQ KDEH LFK PLFK YHUlQGHUW 0HLQH 9HUOHW]XQJHQ VLQG Y|OOLJ DXVJHKHLOW ,FK IKOHPLFKLQHLQHUDXVJH]HLFKQHWHQN|USHUOLFKHQ9HUIDVVXQJ1LHPDOV]XYRULQPHLQHP /HEHQJLQJHVPLUVRJXW ,FK ZHL GD LFK GDV DOOHV GHP =HOODNWLYDWRU YHUGDQNH GHU OlQJVW ]X HLQHP IHVWHQ%HVWDQGWHLOPHLQHV.|USHUVJHZRUGHQLVW $P%DFKXIHUEOHLEHLFKVWHKHQ 1DFKGHP LFK GLH 8PJHEXQJ EHREDFKWHW KDEH EHXJH LFK PLFK QLHGHU XP GDV NODUH :DVVHU ]X WULQNHQ ,Q GHQ OHW]WHQ 7DJHQ KDEH LFK NDXP HWZDV JHJHVVHQ 7URW]GHP JHKW HV PLU JXW $XFK PHLQ 6FKODIEHGUIQLV LVW VWDUN UHGX]LHUW 'HU =HOODNWLYDWRU UHDNWLYLHUW PHLQHQ .|USHU 0HLQH 6LQQHVRUJDQH IXQNWLRQLHUHQ EHVVHU DOV MHPDOV]XYRU*HK|U*HUXFKXQG*HVFKPDFNDOOHVLVWYLHOLQWHQVLYHUJHZRUGHQ ,FKELQJOFNOLFK 0DQFKPDOWUlXPHLFKGDYRQDXI.KD]D]XEOHLEHQ'RFKGDV/HEHQDXIGLHVHU :HOW ZUGH PLFK QLFKW EHIULHGLJHQ ,FK PX ]XUFN LQ GHQ :HOWUDXP PX DQGHUH 3ODQHWHQ EHVXFKHQ XQG .RQWDNW ]X YLHOHQ :HVHQ XQVHUHU *DOD[LV KDEHQ 'DV ZDU VFKRQ LPPHU PHLQ =LHO²XQG GDUDQ KDW VLFK DXFK GXUFK GHQ =HOODNWLYDWRU QLFKWV JHlQGHUW 6LFKHUKlOW.HQQRQVLFKQRFKDXIGLHVHU:HOWDXI9HUPXWOLFKKDWHULQ]ZLVFKHQ VRJDU 9HUVWlUNXQJ EHNRPPHQ (V LVW GHQNEDU GD +XQGHUWH YRQ 8626SH]LDOLVWHQ QDFKPLUVXFKHQ :LHGHUHLQPDO|IIQHLFKPHLQHQ8PKDQJXPGHQ=HOODNWLYDWRU]XEHWUDFKWHQ ,FKEHJLQQH]XH[SHULPHQWLHUHQ0LWEHLGHQ+lQGHQ]LHKHLFKGLH6FKQXUDQGHU GHU $NWLYDWRU KlQJW EHU GHQ +DOV 'DQQ OHJH LFK GHQ $NWLYDWRU QHEHQ PLFK 6RIRUW ZHUGH LFK YRQ HLQHU VSUEDUHQ 8QUXKH EHIDOOHQ $QGHUH (UVFKHLQXQJHQ ZLH 0GLJNHLW XQG6FKZlFKHVWHOOHQVLFKQLFKWVRIRUWHLQGDVZLUGVLFKHUHLQSDDU6WXQGHQGDXHUQ,FK ZHLGDLFKEHUHLWVY|OOLJYRQGLHVHP*HUlWDEKlQJLJELQDXFKZHQQGLH)ULVWQRFK QLFKW HQGJOWLJ YRUEHU LVW 0WH LFK GHQ $NWLYDWRU MHW]W ]XUFNJHEHQ ZUGH LFK PLW 6LFKHUKHLWVFKZHUHUNUDQNHQ8QGDEPRUJHQZHUGHLFKVWHUEHQZHQQPDQPLUPHLQHQ NRVWEDUHQ%HVLW]DEQLPPW ,FKZHUGH]XUJDODNWLVFKHQ=LYLOLVDWLRQ]XUFNNHKUHQ $XFK$WODQKDWQLFKWGDV5HFKWPLUGHQ$NWLYDWRUDE]XQHKPHQ 6DJWH QLFKW (5 LQ VHLQHU %RWVFKDIW GD MHGHU GHU HLQHQ $NWLYDWRU ILQGHW LKQ EHKDOWHQNDQQ" 'DV JLOW DXFK IU PLFK REZRKO LFK DOV 8626SH]LDOLVW PHLQHU 2UJDQLVDWLRQ JHJHQEHUYHUSIOLFKWHWELQ ,FK OHJH GDV *HUlW ZLHGHU XP 6RIRUW VFKZLQGHW PHLQH LQQHUH 8QUXKH ,FK YHUVFKOLHHPHLQHQ8PKDQJ
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
(V KHLW GD HLQLJH =HOODNWLYDWRUWUlJHU EHUYRUVLFKWLJ JHZRUGHQ ZlUHQ 6LH ZROOWHQNHLQHQJHZDOWVDPHQ7RGULVNLHUHQ,FKKDOWHGDVIUHLQ*HUFKW0LWRGHURKQH =HOODNWLYDWRU²5RQDOG7HNHQHUZLUGLPPHUEHUHLWVHLQHLQ5LVLNRHLQ]XJHKHQZHQQHV JLOWHLQEHVWLPPWHV=LHO]XHUUHLFKHQ $EHUDOOHGLHVH*HGDQNHQVLQGVLQQORV $OOHVKlQJW]XQlFKVWHLQPDOGDYRQDEZLH$WODQVLFKHQWVFKHLGHQZLUG,FKPX GDPLWUHFKQHQGDHUPLFK]XP7RGHYHUXUWHLOWLQGHPHUPLUGHQ$NWLYDWRUDEQLPPW 'HQQQLFKWLFKVRQGHUQDQGHUHKDEHQGDV9RUUHFKWGHU8QVWHUEOLFKNHLW(LQSDDU $XVHUZlKOWHGLHIUGLH0HQVFKKHLWZLFKWLJVLQG LFKVWRHHLQH9HUZQVFKXQJDXV 6FKOLHOLFKELQLFKQLFKWZHQLJHUZHUWDOVGLHDQGHUHQ9RUGHP*HVHW]GDVVLFK GLH 0HQVFKKHLW VHOEVW JHJHEHQ KDW VLQG DOOH LQWHOOLJHQWHQ :HVHQ JOHLFK (V GUIHQ NHLQH8QWHUVFKLHGHJHPDFKWZHUGHQ *UDXH7KHRULH 0DQ EUDXFKW QXU PLW RIIHQHQ $XJHQ GXUFK GLH *DOD[LV ]X UHLVHQ XP ]X EHREDFKWHQGDGLHVHV*HVHW]VWQGOLFKWDXVHQGIDFKJHEURFKHQZLUG
'HU *OHLWHU ODQGHWH DXI HLQHU /LFKWXQJ PLWWHQ LP 8UZDOG .HQQRQ OLH VLFK ODQJVDP]XP/DQGHSODW]KLQDEVLQNHQXQGZDUWHWHGD$WODQGDV)DKU]HXJYHUODVVHQ ZUGH 'LH6FKOHXVH|IIQHWHVLFK$WODQVWUHFNWHGHQ.RSIKHUDXVXQGQLFNWHLKP]X ³'LH=HLWLVWXP´ ³-D´EHVWlWLJWH.HQQRQ³:HQQ7HNQLFKWLQ]ZLVFKHQHLQHVJHZDOWVDPHQ7RGHV JHVWRUEHQLVWKDWVLFKGHU$NWLYDWRUDXILKQHLQJHVWLPPW´ $WODQNDPDXVGHU6FKOHXVHXQGOLHVLFKDXIGHUNOHLQHQ*DQJZD\QLHGHU³,FK KDEH QLFKW GDPLW JHUHFKQHW GD ZLU LKQ ILQGHQ´ JDE HU ]X ³7URW]GHP ELQ LFK HQWWlXVFKW´ ³:ROOHQ6LHGLH6XFKHIRUWVHW]HQ"´ 'HU$UNRQLGHVFKWWHOWHGHQ.RSI ³:LU ZHUGHQ HLQHQ 7DJ ZDUWHQ RE 7HNHQHU VLFK VWHOOW 6ROOWH HU GDQQ NHLQ /HEHQV]HLFKHQYRQVLFKJHJHEHQKDEHQZHUGHQZLU.KD]DYHUODVVHQ´ ³'DV NDQQ EHGHXWHQ GD 7HNHQHU -DKU]HKQWH RGHU VRJDU -DKUKXQGHUWH DXI GLHVHU:HOW]XEULQJHQPX´VDJWH.HQQRQEHVWU]W (UHUKLHOWNHLQH$QWZRUW 7HNKDWVHLQ6SLHOJHZRQQHQGDFKWH.HQQRQ(UNRQQWHVLFKQRFKLPPHUQLFKW PLWGHP*HGDQNHQDEILQGHQGDVHLQ3DUWQHUHLQ8QVWHUEOLFKHUZDU .HQQRQJODXEWHQLFKWPHKUGDUDQGDGHU$UNRQLGHGHQ$NWLYDWRULQ$QVSUXFK QHKPHQZUGHZHQQ7HNHQHUDXIWDXFKHQVROOWH ³7HNHQHULVWHLQJHULVVHQHU)XFKV´VDJWH$WODQQDFKHLQLJHU=HLW³$XHUGHPLVW HU HLQ KDUWJHVRWWHQHU %XUVFKH ,FK KDEH VHLQH /R\DOLWlW JHJHQEHU GHU 862 QRFK QLHPDOV DQJH]ZHLIHOW 'DV ZDU VLFKHU HLQ )HKOHU GHU VLFK QXQ JHUlFKW KDW 7HNHQHU VWHOOWHVHLQHSHUV|QOLFKHQ,QWHUHVVHQEHUGLHGHU2UJDQLVDWLRQ,P*UXQGHJHQRPPHQ LVWHUHLQ'HVHUWHXU´ ³(LQ KDUWHV :RUW´ ULHI .HQQRQ VFKRNNLHUW DXV ³6LH ZHUGHQ LKQ GRFK QLFKW DOV
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
'HVHUWHXUIHVWQHKPHQXQGEHVWUDIHQODVVHQ"´ ³,FK PX ZDUWHQ RE HU ]XUFNNRPPW´ HQWJHJQHWH $WODQ ³'DQQ ZHUGH LFK PLU DQK|UHQZDVHU]XVDJHQKDW´ ³'DV ZLUG QLFKW PHKU ODQJH GDXHUQ´ YHUNQGHWH GDV *HKLUQ ³,FK KDEH VRHEHQ ,PSXOVH JHRUWHW GLH YRQ HLQHP )OXJDJJUHJDW VWDPPHQ 'DV EHGHXWHW GD 7HNHQHU ZLHGHUXQWHUZHJVLVW´ 'HU$UNRQLGHVWDQGDXI ³1HKPHQ6LH.RQWDNWPLWLKPDXI´EHIDKOHU³8QGEULQJHQ6LHLKQKLHUKHU´
'UHL0lQQHUVWDQGHQDXIGHUNOHLQHQ/LFKWXQJPLWWHQLP'VFKXQJHO (LQHU YRQ LKQHQ OHEWH VHLW EHU ]HKQWDXVHQG -DKUHQ XQG JDOW DOV HLQHU GHU HUIDKUHQVWHQ5DXPIDKUHUGHU*DOD[LV(UKDWWHDOV,PSHUDWRUEHUGDVDUNRQLGLVFKH9RON JHKHUUVFKWXQGEHVDGDV9RUUHFKWGHU8QVWHUEOLFKNHLW 'HU ]ZHLWH 0DQQ YHUGDQNWH VHLQ /HEHQ GHQ )lKLJNHLWHQ YRQ %LRFKLUXUJHQ XQG .\EHUQHWLNHUQ1XUVHLQ*HKLUQGLH]HQWUDOH6WHOOHHLQHVMHGHQPHQVFKOLFKHQ.|USHUV ZDU QDFK HLQHP 8QIDOO JHUHWWHW ZRUGHQ 'HU .|USHU GHV 0DQQHV ZDU HLQH HLQPDOLJH 5RERWNRQVWUXNWLRQ hEHU GLH /HEHQVHUZDUWXQJ GHV *HKLUQV VWULWWHQ VLFK GLH :LVVHQVFKDIWOHU QRFK LPPHU DEHU VLH ZDUHQ ]XPLQGHVW GDULQ HLQLJ GD HV QRFK PLQGHVWHQVWDXVHQG-DKUHOHEHQNRQQWH 'HU GULWWH 0DQQ ZDU HLQ 6SLHOHU HLQ +DVDUGHXU XQG *OFNVULWWHU (U ZDU HLQ 0DQQGHUVLFKHLJHQH*HVHW]HJHPDFKWKDWWH8QGHUZDUHLQ'LHE 'HUHUVWH0DQQVDJWH ³,FK ELQ HQWWlXVFKW DEHU ZHQQ LFK ULFKWLJ QDFKGHQNH YHUVWHKH LFK GD 6LH VR KDQGHOQPXWHQ(VHQWVSULFKW,KUHU0HQWDOLWlW,FKZHUGH,KQHQGHQ=HOODNWLYDWRUQLFKW DEQHKPHQODVVHQhEHUGDV$XVPD,KUHU%HVWUDIXQJPXLFKQRFKQDFKGHQNHQ´ 'HU]ZHLWH0DQQVDJWH ³,FKZHLQLFKWREZLU)UHXQGHEOHLEHQN|QQHQ7HN´ 'HUGULWWH0DQQVFKZLHJ6HLQQDUELJHV*HVLFKWYHU]RJVLFK]XHLQHP/lFKHOQ 'HU]ZHLWH0DQQVDJWH ³,FK PX PLFK QRFK GDPLW DEILQGHQ 'DV ZLUG HLQLJH =HLW GDXHUQ 9LHOOHLFKW VROOWHQZLUXQVHLQLJH=HLWWUHQQHQ:DVKlOWVWGXGDYRQ7HN"´ ³,FKYHUVWHKHGLFK´VDJWHGHUGULWWH0DQQ 'HU,PSHUDWRUGDV*HKLUQPLWGHP5RERWN|USHUXQGGHU'LHEVDKHQVLFKDQ(V JDEQLFKWPHKUYLHO]XVDJHQ(QWVFKHLGXQJHQZDUHQJHWURIIHQXQGDN]HSWLHUWZRUGHQ 0HQVFKHQKDWWHQPHQVFKOLFKH+DQGOXQJHQYROO]RJHQ 'RFKEHYRUVLFKGLHGUHL0lQQHUWUHQQWHQVDJWHGHUHUVWH0DQQ ³6LH VLQG MHW]W JOFNOLFK 7HNHQHU %DOG MHGRFK ZHUGHQ 6LH HUNHQQHQ GD HLQ =HOODNWLYDWRU HLQH /DVW VHLQ NDQQ ,KUH )UHXQGH ZHUGHQ VWHUEHQ DEHU 6LH ZHUGHQ ZHLWHUOHEHQ 'LH 8PJHEXQJ ZLUG VLFK YHUlQGHUQ XQG 6LH ZHUGHQ 0KH KDEHQ DOOH (QWZLFNOXQJHQ ]X YHUVWHKHQ $XFK GDV VROOWHQ 6LH VFKQHOO EHJUHLIHQ GHQQ DXFK GDV JHK|UW]XP9RUUHFKWGHU8QVWHUEOLFKNHLW´ (1'(
-lJHUGHU8QVWHUEOLFKNHLW
M
$WODQ
/HVHQ6LHLQ7DJHQ$7/$11UPLWGHP7LWHO
%DLNXODU²:HOWGHV7HUURUV
YRQ(UQVW9OFHN (LQ)DOOIUGLHNRVPLVFKH%HGUlQJWHQKLOIH² HLQ3ODQHWZLUGYRQ7HUURULVWHQEHGURKW