Vous êtes sur la page 1sur 41

5"!/*."&%&$%!)$-!)"'%'(!

)"*$'
/-)0$#')&"&%4"7(#%&$%'"-%"-&#8'

TEMASSOCIALES
32

!"#$%&"'"(')%*+'),!"#$%&'#()!)*
AUTORES

./0"1)%2)00"3,'+3%4'/5(00+
!(6+7"',+%839"5+%:;
</1"'=(#>+%?0+'"3%@/(39"
</)07"',+%A(BC'')6)%?"''"0
D)#("0%&)70+%A/=)#+%A/=)#+
D)#(0+%&)B%2)00(E()#
8>/)'>+%&)B%!)>)
!"#$%&"'"(')%*+'),F)(1"%*+#,)G+%<)'=H)
I0(3+#%J9">>(#6%&)00",
K"01"'%2;%L(00"6)3%<C0E"B

!"##$#"%&$%'(!)(*(+,"
)-'.)./.(%&$%)-0$'.)+"!)(-$'%'(!)(*1+)!"'2)&)'
34"/#)!)(%*$5$60#$3

48*IJ%JMNOIA8J%PQ%RS
:POL8!JODID%*ITM!%D8%JIP%IPD!UJ
NI!!8!I%D8%JMNOMAM<VI
OPJ4O4:4M%D8%OPL8J4O<INOMP8J%JMNOMAW<ONIJ%X%ODOJ
Y*I:!ONOM%A8?82L!8Y
IE;%L(00)B-#%PZ%[\\]
SQ%&(3+%8>(^(=(+%!"#$%.)7)0",)%*"'=)>+
4"0$^+#+_%S``aRbb%
8X1)(0_%(>(3c/13);7+
A)%&)B%X%2+0(E()
D('"=,+'%>"%0)%N)''"')%>"%J+=(+0+6H)_%*;%J=;%8>/)'>+%&)B%!)>)
D('"=,+'%>"0%ODOJ_%*;%J=;%!"#$%&"'"(')%*+'),N++'>(#)=(-#%<"#"')0_%*;%J=;%!"#$%&"'"(')%*+'),!"39+#3)70"%>"%0)%8>(=(-#_%A(=;%F/)#%*)'="0+%N+0/17)%?"'#C#>"B
D(3"G+%d%>()6')1)=(-#_%8>6)'%D;%&+1)'%N'"39+
O19'"3(-#_%I00%&'"33%X%S`\`]bb
&+',)>)_%<"'(=)/0,%"#%A+3%I#>"3X87'(+3%>"%&+>"';%I=/)'"0)%e]fghf%=1;i%>"
*)'(+%N+#>"%N'/B;%80%I/,+'%"3%>+="#,"%>"%A)%I=)>"1()%P)=(+#)0%>"%2"00)3%I',"3j
"39"=()0(B)>+%"#%9(#,/')%d%6')7)>+k%^/"%6)#)>+'%>"0%Y<')#%9'"1(+%&">'+%D+1(#6+
*/'(00+Y%"#%[\\S%d%"0%&'"1(+%&0/'(#)=(+#)0%>"%&(#,/')%8>/)'>+%I7)'+)Y%"#%Sa[S;
NM*O4U%8DO4M!OIA
J(0Ed)%>"%I0)'=-#%
8>/)'>+%&)B%!)>)
!"#$%&'()$&'(*+
J(0E()%!(E"')%N/3(=)#l/(
!+0)#>+%J)#=m$B%
N+#3,)#,(#+%4)#=)')

NM*OJOWP%INIDU*ONI
!)n0%839)G)%N/"00)'
!+7"',+%A(#)'"3%<-#6+')
?(>"0%!+5)3%o0E)'"B
P+'1)%p"#>d%!(+3

q%P+E("17'"j%Sa[S%>"%"3,)%">(=(-#
D;A;%_%%`XRXhSX[a%&;M;

A)3%+9(#(+#"3%9'"3"#,)>)3%"#%"3,"%,"g,+%3+#%'"39+#3)7(0(>)>%"g=0/3(E)%>"%0+3%)/,+'"3;
O19'"3+%"#%2+0(E()%r%&'(#,">%(#%2+0(E()

!"#"$%&'"$&()*$%+"$&$%+&,*-%')$.&('"+/"0%$&
)+&1+&$2'%&'13"*4
!"#$%&'%()%*+,-&.'&'.(/'*/,-01(/'/(2"*'3415"&%16)7
AlisonSpeddingPallet1

Antecedentes
!"#$%&'()*#%"#)+,-*.%#/0%#%1%+(0'".%+(%#,0%#20&")3'$-#2-*#42%$$)+5#6#
7"'+-8#9:;;;<#3-+#0+-#$%#808#%1'"0'$-*%8=#+-8#$).-8#30%+('#/0%#'0+/0%#
>.)5*'3)?+@#%8#.%+3)-+'$'#3-+#,*%30%+3)'#%+#"-8#%8(0$)-8#8-3)'"%8=#2-*#
!"#$%&%'(!#!()#*#!")#(+,"'%)#&+&-(#)%#."!%),(&#%&#/%0&1'#!"#2+%#-+%&,(#
3-.-# >.)5*'3)?+@=# 8)+-# 8%# $'# 2-*# 8%+('$-# /0%# 8%# %+()%+$%# '# /0A# 8%#
'%0%'%#*#)%#3'"-%/%#/1'%-,(.%&,%#(#/1)-+,1'#!")#-()")#3(',1-+!('%)#/%#
>.)5*'3)?+@#/0%#8%#B'6'#)+1%8()5'$-C#D0%8(*'#)+1%8()5'3)?+#%+,-3'&'#
3-.0+)$'$%8#%+#$-8#*%5)-+%8#*0*'"%8#.06#$)8()+('8#90+'#$%#3'&%3%*'#
$%#1'""%=#-(*'#$%#E0+5'8<#%#)+3"06?#"'8#2'0('8#.)5*'(-*)'8#$%#"'8#6#"-8#
B'&)('+(%8#$%#'.&'8=#/0%#%*'+#('.&)A+#$)1%*8'8=#(-.'+$-#%+#30%+('#
%F3"08)1'.%+(%#"'#""'.'$'#>.)5*'3)?+#)+(%*+'@=#%8#$%3)*=#$%+(*-#$%#"'8#
,*-+(%*'8#$%#G-")1)'C#7'#.)5*'3)?+#)+(%*+'3)-+'"#%F)8(H'#.03B-#'+(%8#$%#
"'#$A3'$'#$%#"-8#:;;I#30'+$-#B)3).-8#+0%8(*-#%8(0$)-J#'0+/0%#+-#%*'#
)1$&10-(,14(#3('(#!")#!+$('%)#1&4%),1$(/")5#*(#%'(#%!%4(/(5#3"'#%6%.3!"5#
%+#3)%*('8#2'*(%8#$%"#K'""%#!"(-#$%#L-3B'&'.&'#9L-*(A8#MIINO#:P:88<C#
Q%820A8=#3-+#*%,%*%+3)'#8-&*%#(-$-#'#"'#>.)5*'3)?+@#'#R82'S'=#%"#(%.'#$%#
>.)5*'3)?+#)+(%*+'3)-+'"@#8%#208-#$%#.-$'#+-#8?"-#%+(*%#1'*)-8#8%3(-*%8#
$%#"'#2-&"'3)?+#&-")1)'+'#8)+-#%+(*%#"'8#6#"-8#3)%+()8('8#8-3)'"%8#6#'#2'*()*#
$%#MIIT#B'+#8'")$-#1'*)'8#20&")3'3)-+%8#8-&*%#%"#(%.'C#
:# !+(*-2?"-5'C#U+)1%*8)$'$#V'6-*#$%#4'+#!+$*A8C

1""

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

4)+#%.&'*5-=#'"#*%1)8'*"'8=#%+3-+(*A#/0%#'"#)50'"#/0%#%+#"'#")(%*'(0*'#$%#
.W8#$%#0+'#$A3'$'#'+(%8=#3'8)#+0+3'#8%#)+3"06%#0+#'+W")8)8#3-+3%2(0'"#
$%#30W"%8#(*'8"'$-8#%+#%"#%82'3)-#B'+#$%#3-+('*=#-#+-=#3-.-#>.)5*'3)?+@C#
4%#)+3"06%#%+#%"#*0&*-#('+(-#'#2%*8-+'8#/0%#8%#(*'8"'$'+#2-*#.-()1-8#
$%#%8(0$)-=#$%8$%#X?1%+%8#*0*'"%8#/0%#1'+#'#R"#!"(-#2-*/0%#+-#B'6#0+#
3-"%5)-#3-.2"%(-#%+#80#"05'*#$%#-*)5%+#B'8('#")3%+3)'$-8#/0%#-&()%+%+#
0+'#&%3'#2'*'#0+'#0+)1%*8)$'$#%+#R82'S'=#3-.-#'#)+$)1)$0-8#/0%#1'+#
(#,'(7(6('#%&#%!#%8,%'1"'#-"&#0&%)#/%#.(&/('#%!#/1&%'"#(#)+#9"$('#%&#
G-")1)'#6#-(*-8#/0%#8'"%+#'"#%F(%*)-*#2'*'#"0%5-#(*'%*#'"#*%8(-#$%#80#,'Y
.)")'#+03"%'*#3-+#.)*'8#'#+-#1-"1%*#'/0H#%F3%2(-#2'*'#'"50+'#1'3'3)?+C#
R"#%+,-/0%#%8#8)%.2*%#%+#"-8#(*'8"'$-8#>'83%+$)%+(%8@#%+#(A*.)+-8#$%#
"'8#1'"-*'3)-+%8#9-#2*%X0)3)-8<#8-3)'"%8#3-**)%+(%8O#$%8$%#%"#3'.2-#'#"'#
3)0$'$=#$%8$%#%"#Z%*3%*#V0+$-#'"#[*).%*#V0+$-C#4)50%+#'08%+(%8#9+-#
8?"-#%+#"'#3)%+3)'#8-3)'"#+'3)-+'"<#"'8#2%*8-+'8#/0%#8%#B'+#(*'8"'$'$-#
%+#8%+()$-8#-20%8(-8C#\'6#'"5-#8-&*%#"'8#6#"-8#>.)5*'+(%8#$%#*%5*%8-@#
'"#3'.2-#942%$$)+5#6#7"'+-8#:;;;O]:Y]M<#2%*-#+-#8%#80%"%#.%+3)-+'*#
'#2%*8-+'8#$%"#[*).%*#V0+$-=#3-.-#6-=#/0)%+%8#B'+#1%+)$-#'#1)1)*#%+#
%"#Z%*3%*#V0+$-C#^4%*W#/0%#2-*#8%*##(*'8"'$-8#>$%83%+$)%+(%8@#%,%3()1'Y
.%+(%#+-#30%+('+#3-.-#>.)5*'3)?+@_#`#('"#1%a#"'8#6#"-8#)+1%8()5'$-*%8#
8%#$%X'+#""%1'*#2-*#"'8#%()/0%('8#3-"-/0)'"%8#b#%+#.)#3'8-=#2'*'#.)8#9%F<
3-.2'(*)-('8#)+5"%8%8#8%*H'#0+#!"#$%r'$%!#9%F2'(*)'$'<#6#2'*'#"'8#6#"-8#
&-")1)'+-8=#3*%-=#8-6#8).2"%.%+(%#0+'#>%F(*'+X%*'@O#%+#+)+50+-#$%#"-8#
$-8#3-+(%F(-8#0+'#>.)5*'+(%@C
#
Z*'('+$-#$%#.)#2*-2)'#,'.)")'=#6-#1)1-#%+#G-")1)'J#0+'#$%#.)8#B%*.'+'8#
2'8?#0+#2'*#$%#'S-8#%+#!08(*'")'#6#"0%5-#1-"1)?#'#c+5"'(%**'=#3-+1)1H'#
$0*'+(%#1'*)-8#'S-8#3-+#0+'#.0X%*#80$',*)3'+'C#Z%+5-#0+'#B%*.'+'8(*'#
9B)X'#$%#.)#2*).%*#2'$*'8(*-#%+#80#2*).%*#.'(*).-+)-<#/0%#2'8?#'S-8#
%+#Z0*/0H'=#2*).%*-#3-+#0+#3-+1)1)%+(%#'"%.W+#6#"0%5-#3-+#0+#.'*)$-#
(0*3-C#!"#$)1-*3)'*8%#$%#A8(%=#()%.2-#$%820A8#8%#1-"1)?#'#3'8'*#3-+#0+#
%8('$-0+)$%+8%#6#'3(0'".%+(%#1)1%#3-+#A"#%+#Z%F'8C#E#8)+#%.&'*5-=#+-#
+-8#3-+8)$%*'.-8#0+'#>,'.)")'#(*'+8+'3)-+'"@#91%*#2-*#%X%.2"-#d0'650'#
%,#(!#:;<;5#=1&"6")(#:;;>?@#AB%'C#3"'2+%#D0%!#(#&+%),'(#E,1-(#3'",%),(&,%?#
3'$'#0+-#-#0+'#8)%.2*%#8%#B'#.'+(%+)$-#3-+#808#2*-2)-8#*%30*8-8#6#
+0+3'#B'#$%2%+$)$-#$%=#-#*%.)()$-=#*%.%8'8#$%#0+#2'H8#'#-(*-_
#

!"#$%&%'()$*"%&+,&-.

1"#

[-*#8020%8(-=#B'6#'"50+'8#2%*8-+'8#/0%#+'3%+#6#.0%*%+#%+#"'#.)8.'#
3'8'# 9-# '"# .%+-8# 0+# &'**)-# $%# "'# .)8.'# 3)0$'$# -# 20%&"-<# 6# +0+3'#
2'8'+#"'#+-3B%#,0%*'#$%#%""'=#$%83-+('+$-#'"5e+#1)'X%#$%#1'3'3)-+%8=#
1)8)('8#'#,'.)")'*%8#/0%#1)1%+#"%X-8#-#0+'#)+(%*+'3)?+#%+#0+#3%+(*-#$%#
8'"0$#'"5-#$)8('+(%C#[%*-#+-#8-+#.03B'8=#6#8-+#.%+-8#%+#%"#3'8-#$%#"'8#
2-&"'3)-+%8#'+$)+'8#/0%#8)%.2*%#B'+#.-8(*'$-#.03B'#.-1)")$'$#%+#
%"#%82'3)-#6#2*W3()3'8#/0%#)+3"06%+#"'#*%8)$%+3)'#.e"()2"%#%+#$),%*%+(%8#
2)8-8#%3-"?5)3-8=#'2'*(%#$%#"-8#(*'8"'$-8#.W8#-#.%+-8#,-*a'$-8#$%&)$-#
(#!")#)%'41-1")#/%#!(#.1,(5#$+%''()5#)%2+F()#*#",'")@#B1#!(#/%0&1-1G&#7C)1-(#
$%#>.)5*'3)?+@#%8#>3'.&)-#$%#*%8)$%+3)'@=#8%#20%$%#2*%50+('*#%+(-+3%8#
^/0)A+#()#%8#.)5*'+(%_#^!3'8-#0+'#3'(%5-*H'#('+#'.2")'#()%+%#0()")$'$#
'+'"H()3'_# E# 8)# ()# (-$-8# "-8# 3'.&)-8# $%# *%8)$%+3)'# 8-+# >.)5*'3)?+@#
^/0A#3*)(%*)-8#$%&%+#8'()8,'3%*#"-8#3'.&)-8#/0%#8H#%+(*'+#$%+(*-#$%#%8'#
3'(%5-*H'_#L-.-#8%#1%*W=#'"#%F'.)+'*#"'#")(%*'(0*'#*%80"('#/0%#+-#B'6#
0+# 3-+X0+(-# 3-B%*%+(%# $%# %"%.%+(-8# 3-.0+%8# '# (-$-8# "-8# 3'8-8# /0%#
/1H%'%&,%)#(+,"'%)#1/%&,10-(&#-"."#I.1$'(-1G&J@#K#!(#4%L5#9(*#%!%.%&,")#
).2"H3)(-8# 80&6'3%+(%8# /0%# *%82-+$%+# '# 802-8)3)-+%8# 2*-2)'8# $%# "'#
30"(0*'#5%+%*'"#$%#$-+$%#2*-3%$%+#"'8#6#"-8#'0(-*%8J#%8('#d)"$#1'*H'#
$%#0+#2'H8=#-#W*%'#30"(0*'"=#'#-(*'=#6#3-+(*)&06%#'#"'#,'"('#$%#3-B%*%+3)'#
3-+3%2(0'"#$%#"-8#%8(0$)-8#/0%#'"%5'+#(*'('*#$%#>.)5*'3)?+@C#
#
Q%820A8#$%#%F'.)+'*#3'8-8#3-+3*%(-8#2'*'#B'3%*#%F2"H3)(-#"-8#,'3(-*%8#
)+1-"03*'$-8#2'*'#""'.'*"-8#>.)5*'3)?+@=#805%*)*A#/0%#8)#('"#3-+3%2(-#-#
3'(%5-*H'#B'#$%#(%+%*#1%*$'$%*'#0()")$'$#2'*'#%"#'+W")8)8#8-3)'"=#%8#+%3%8'*)-#
%)3%-10-('#!()#/%0&1-1"&%)#*#/%!1.1,('#-"&#3'%-1)1G&#!()#-(,%$"'F()#2+%#
3-**%82-+$%+#'#"-8#,%+?.%+-8#8-3)'"%8#/0%#8%#$%8%'#%8(0$)'*#6=#8%5e+#%"#
3'8-=#%+#"-8#30'"%8#8%#/0)%*%#)+(%*1%+)*C#D-#3'&%#$0$'#/0%#"'#>.)5*'3)?+@#
b#%8#$%3)*=#"'#5*'+#1'*)%$'$#$%#(*'8"'$-8#$%#2%*8-+'8#%+#%"#%82'3)-#/0%#
8%#B'#$%+-.)+'$-#3-.-#('"#b#%8#.06#3-.2"%X'#6#()%+%#.e"()2"%8#3'08'8O#
('+('8=#/0%#'*50.%+(-#/0%#%8#+%3%8'*)-#8%2'*'*#>.)5*'3)?+@#2-*#3)%*('8#
-(+)()#*#-"&#-1%',")#0&%)#/%#-()")#-"&#",'"#,13"#/%#-(+)()#*#0&%)5#3('(#
'3%*3'*8%#'#0+'#3-.2*%+8)?+#'$%30'$'#$%#"-8#B%3B-8#%+#30%8()?+C#`(*-#
.-()1-#2-*#%"#)+(%*A8#$%#)+1%8()5'$-*%8#8-3)'"%8#%+#%8(%#(%.'#%8#/0%#%+#
I.1$'(-1G&J5# *# .C)# %)3%-F0-(.%&,%# !(# I.1$'(-1G&# 1&,%'&(-1"&(!J5# %)")#
3'.&)-8#$%#*%8)$%+3)'#3-+#0+'#-#.W8#,*-+(%*'8#)+(%*+'3)-+'"%8#$%#2-*#
.%$)-=#%8#0+#(%.'#2-"H()3-C#R8(-#$'#"05'*#'#"'#2*-1)8)?+#$%#,-+$-8#6#

1#0

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

%.2"%-8#'3'$A.)3-8=#2'*'#)+$'5'*#8-&*%#>.)5*'3)?+@#b#2%*-#8?"-#3)%*(-8#
()2-8#$%#>.)5*'3)?+@#6#3-+#3)%*(-8#%+,-/0%8C#
#
D-#(-$-8#"-8#)+1%8()5'$-*%8#/0%#8%#%82%3)'")a'+#%+#%8(%#(%.'#"-#B'&*W+#
%83-5)$-#3-+#0+#3)+)8.-#3-+83)%+(%#$%#&083'Y2%5'8#6#.%+-8#B'&*H'+#
'$'2('$-#808#2-8(0*'8=#3-+3"08)-+%8#6#2*-20%8('8#2'*'#3-+3-*$'*#$%#
'+(%.'+-#3-+#0+'#"H+%'#2-"H()3'=#50&%*+'.%+('"=#)+8()(03)-+'"#-#$%#0+#
5*02-#$%#2*%8)?+C#V03B-8#20%$%+#8%+()*#0+#3-.2*-.)8-#8)+3%*-#3-+#
%8'8#6#%8-8#>.)5*'+(%8@#/0%#2'8'+#2-*#8)(0'3)-+%8#$),H3)"%8C#7-8#8%85-8#
$%#8%"%33)?+#%#)+(%*2*%('3)?+#$%#3'8-8#20%$%+#$%&%*8%#'#"'#.%+3)-+'$'#
d)"$#/0%=#3-.-#B'#$)3B-#G-0*$)%0=#$%(%*.)+'#/0A#%8#"-#/0%#8%#""%5'#'#
1%*#6#3?.-#8%#"-#1%J#2%*-#('.&)A+=#'"#B'&"'*#$%#>.)5*'3)?+@=#B'6#$)820('8#
6#2*%8)-+%8#2-"H()3'8#%F2"H3)('8#/0%#8%#%+(*%3*0a'+#3-+#%8('#d)"$C#Z-$-#
%"# .0+$-# +%3%8)('# ""%1'*# %"# 2'+# '# "'# 3'8'# 98)# +-# ()%+%# "'# -23)?+# $%#
.'+(%+%*8%#3-+#*%.%8'8#$%#,'.)")'*%8#>.)5*'+(%8@#f3"'*-#%8(Wg<#6#2-3-8#
20%$%+#$'*8%#%"#"0X-#$%#$%$)3'*8%#'#(%.'8#$%#%8(0$)-#/0%#+'$)%#1'#'#
0&(&-1('# )G!"# 3('(# -"&)%'4('# )+# 3+'%L(# 1&,%!%-,+(!M# ,"/"# %!# .+&/"#
('.&)A+#()%+%#$%*%3B-#'#(%+%*#3-.2*-.)8-8#2-"H()3-8#6#8-3)'"%8C#\'3%#
()%.2-#%F)8(%#0+#3-+8%+8-#/0%#)+$)3'#/0%#%"#.'+$'(-#$%#2*-$03)*#0+'#
3)%+3)'#8-3)'"#-&X%()1'=#2*-$03(-#$%#0+'#.)*'$'#6#0+'#.%+(%#0&)3'$'#
,0%*'#$%"#.0+$-#8-3)'"#/0%#2*%(%+$%#$%83*)&)*#6#'+'")a'*=#%8=#-#%*'=#0+#
$)8,*'a# /0%# 2%*.)(H'# 2*%8%+('*# '+W")8)8# 2*-3%$%+(%8# $%# $%(%*.)+'$-#
"05'*# $%# %+0+3)'3)?+# 93"W8)3'.%+(%=# %"# $%# 0+# 1'*?+# $%# 3"'8%# .%$)'#
-# '"('=# 3-+# %8(0$)-8# 0+)1%*8)('*)-8# 6# $%# 30"(0*'# %0*-2%'# 6# %(+)3)$'$#
&"'+3'<# 3-.-# ).2'*3)'"%8# 6# 0+)1%*8'".%+(%# 1W")$-8C# Q%83'*('*# %8(%#
.'+$'(-#+-#).2")3'#3'%*#)+%1)('&"%.%+(%#%+#%"#*%"'()1)8.-#'&8-"0(-=#
$-+$%#3'$'#30"(0*'#-#3-8.-1)8)?+#*%80"('#8%*#0+'#3%"$'#3%**'$'#)+3'2'a#
$%#3-.0+)3'*8%#-#8%*#3-.2*%+$)$-#2-*#2%*8-+'8#/0%#B'&)('+#%+#-(*'8#
3%"$'8=#-#'80.)*#/0%#%+(-+3%8#(-$-#%83*)(-#%8#0+'#.-1)$'#2-"H()3'#%#
)$%-"?5)3'#6#%8#1W")$-#%+#('+(-#/0%#'2-6'#'#"-8#)+(%*%8%8#$%#>"-8#&0%+-8#
$%#"'#2%"H30"'@=#8)+#).2-*('*#0+'#.%(-$-"-5H'#('.&'"%'+(%#-#8%"%33)?+#
(%+$%+3)-8'#$%#$'(-8C#c.2")3'#.W8#&)%+#B'3%*#%F2"H3)(-8#"-8#8%85-8#/0%#
B'6#6#%"#3-+(%F(-#2-"H()3-#$%#"'#)+1%8()5'3)?+C#7'#-&X%()1)$'$#+-#()%+%#
/0%#8%*#:IIh#-#+-#%8#+'$'=#8)+-#'$.)(%#'"3'+3%8#2'*3)'"%8#9/0%#+-#%8#
"-#.)8.-#/0%#2'*3)'")a'$-8<C#R"#e"().-#'3W2)(%#$%#%8(%#'*(H30"-#(*'('*W#
$%"#3-+(%F(-#2-"H()3-#6#'"50+-8#$%#"-8#)+(%*%8%8#)+1-"03*'$-8#%+#"'#-"'#

!"#$%&%'()$*"%&+,&-.

1#1

*%3)%+(%# $%# %8(0$)-8# 8-&*%# >.)5*'3)?+@# 9)+(%*+'3)-+'"<# %+# G-")1)'=# %X%#


/0%#'#"'#1%a#%8#(*'+81%*8'"#'"#'*(H30"-#%+#80#3-+X0+(-C
Enbsquedadeladoxasobre8migracinenydesdeBolivia
#
E'#B%#.%+3)-+'$-#/0%#B'6#2%*8-+'8#/0%#*%8)$%+#%+#%"#.)8.-#"05'*#
$0*'+(%#(-$'8#808#1)$'8C#R"#-(*-#%F(*%.-#8%*W#"'8#2%*8-+'8#/0%#+'3%+#
%+#0+#3-+()+%+(%=#"0%5-#"-#'&'+$-+'+#2'*'#-(*-#3-+()+%+(%#6#/0%$'+#
'""H#B'8('#.-*)*=#8)+#*%5*%8'*#8)/0)%*'#$%#1)8)('#'"50+'#1%a#'#80#"05'*#$%#
-*)5%+C#7'8#2*).%*'8#2-*#8020%8(-#+-#8-+#>.)5*'+(%8@#6#"'8#8%50+$'8#
)++%5'&"%.%+(%#"-#8-+C#[%*-#%+(*%#%8(-8#$-8#%F(*%.-8=#B'6#0+#8)+,H+#
$%#5*'$0'3)-+%8=#3-+#%"#e+)3-#%"%.%+(-#3-.2'*()$-#$%#B'&%*#2'8'$-#
3)%*(-# ()%.2-# 1)1)%+$-# ,0%*'# $%# 80# 3'8'=# B-5'*# -# "05'*# $%# -*)5%+C#
R8(%#>3)%*(-#()%.2-@#%8#'"('.%+(%#1'*)'&"%=#$%8$%#.%8%8#-#('"#1%a#8?"-#
8%.'+'8M# B'8('# $A3'$'8J# %"# (*'8"'$-# 20%$%# *%2%()*8%# .e"()2"%8# 1%3%8#
%+(*%#%"#"05'*#$%#-*)5%+#6#%"#.)8.-#$%8()+-=#-#1'*)-8#$%8()+-8=#-#20%$%#
8%*#0+'#8-"'#8'")$'#2'*'#1-"1%*#6#+-#8'")*#.W8C#\'6#0+'#$)1%*8)$'$#$%#
.",14")#3('(#(7(&/"&('#%!#!+$('#/%#"'1$%&#*#",'(#/14%')1/(/#/%#0&%)#
&083'$-8#6#*%80"('$-8#"-5*'$-8#%+#%"#"05'*#$%#$%8()+-C#Q%#B%3B-=#%+#
"'#")(%*'(0*'#'3'$A.)3'#B'6#0+'#(%+$%+3)'#$%#B'&"'*#$%#%8(*'(%5H'8#-#
2"'+%8#/0%#$)*)5%+#"-8#(*'8"'$-8#>.)5*'(-*)-8@=#/0%#20%$%#$%&%*8%#%+#
2'*(%#'#0+'#2*-6%33)?+#$%#"'#)$%'#/0%#"'8#6#"-8#.)8.-8#'3'$A.)3-8#()%+%+#
/%#)+)#41/()#-"."#(!$"#-"&)-1%&,%.%&,%#3!(&10-(/"5#3%'"#,(.71E&#(#
"'8#1%*8)-+%8#$%#808#)+,-*.'+(%8#>.)5*'+(%8@=#/0)%+%8#*%-*$%+'+#808#
*%30%*$-8#2'*'#*%2*%8%+('*#80#8)(0'3)?+#'3(0'"#3-.-#'"5-#/0%#&083'*-+#
$%8$%#0+#2*)+3)2)-#30'+$-#%+#*%'")$'$#808#)+(%+3)-+%8#)+)3)'"%8#%*'+#
-(*'8=# -# 8)+-# %+(%*'.%+(%# 1'5'8# -# B'8('# )**%'"%8=# 6# 80# 2*%8%+(%# %8#
'%)+!,(/"#/%#+&(#)%'1%#/%#-()+(!1/(/%)#)1&#3!(&10-(-1G&#(!$+&(@#N)#.C)O#
B'6#3'8-8#30'+$-#"'#$0*'3)?+#6#(*'6%3(-*)'#%82'3)'"#$%"#(*'8"'$-#8-+#"'8#
M# 4)# *%82-+$%+# i^L?.-# 8%.'+'8_# R8-# +-# %8# .)5*'3)?+=# %8# 8?"-# 0+# 1)'X%3)(-# +'$'#
.W8i=#3-+8)$%*'#%"#3'8-#$%#0+'#2%*8-+'#&-")1)'+'#/0%#)+(%+('#%+(*'*#'#"-8#R8('$-8#
U+)$-8#2-*#VAF)3-=#8)+#(%+%*#$-30.%+(-8#%+#*%5"'=#2%*-#%8#3'2(0*'$'#%+#"'#,*-+(%*'#
6#$%2-*('$'C#K0%"1%#'#80#3'8'#.%+-8#$%#0+#.%8#$%820A8#$%#B'&%*#2'*()$-C#^R8('#
3%')"&(# /%7%# )%'# -!()10-(/(# -"."# P.1$'(&,%P5# (+&2+%# )%(# P.1$'(&,%# H'+),'(/"Q
,*'3'8'$-i_#4)#3-+8)$%*'+#/0%#"'#*%820%8('#%8#i8Hi%+(-+3%8#0+'#'08%+3)'#$%#8%.'+'8#
20%$%#3-+('*#3-.-#i.)5*'3)?+iC#

1#2

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

.1).()5#3%'"#(!$+&")#)"&#-!()10-(/")#-"."#I.1$'(-1G&J#*#",'()#&"#!"#
8-+C#R"#%X%.2"-#/0%#(-.'*A#'"#*%82%3(-#%8#%"#.'(*).-+)-C
#
E'#/0%#2-*#*%5"'#5%+%*'"#+-#%8#2%*.)()$-#3'8'*8%#%+(*%#B%*.'+-8=#%8#
+%3%8'*)-#/0%#2'*'#,-*.'*#0+#.'(*).-+)-#'"#.%+-8#0+#.)%.&*-#$%#"'#
2'*%X'#()%+%#/0%#8'")*#$%#80#3'8'#%#)*#'#1)1)*#%+#-(*-#8)()-C#R+#"-8#%8(0$)-8#
$%#2'*%+(%83-=#%8(-#8%#""'.'#*%8)$%+3)'#0F-*)"-3'"#9%"#1'*?+#8%#(*'8"'$'#
$-+$%#"'#.0X%*<=#1)*)"-3'"#9"'#.0X%*#8%#(*'8"'$'#$-+$%#%"#1'*?+<#-#+%-"-3'"#
9'.&-8#8%#(*'8"'$'+#'#0+'#1)1)%+$'#$)8()+('#'#808#B-5'*%8#+'('"%8<J#2'*'#
+'$'#%8#>.)5*'3)?+@C#[%*-#%"#(*'8"'$-#20%$%#1'*)'*#.03B-C#L-+8)$%*'#
"'8#8)50)%+(%8#-23)-+%8#*%,%*%+(%8#'#"'#0&)3'3)?+#$%#"'#1)1)%+$'#$-+$%#
8%#%8('&"%3%#"'#+0%1'#2'*%X'#9'/0H#+-#).2-*('#8)#('"#1)1)%+$'#%8#$%#"'#
,'.)")'#$%#A"=#$%#%""'=#-#8)#%8#+0%1'<O
:C# R+#"'#.)8.'#3-.0+)$'$=#&'**)-#-#20%&"MC# R+#-(*'#2*-1)+3)'#-#$%2'*('.%+(-#$%"#.)8.-#2'H8=#2%*-#3-+#0+#3-+Y
(%F(-#8-3)-%3-+?.)3-j%3-"?5)3-j30"(0*'"#2'*%3)$-#'"#"05'*#$%#-*)5%+
]C# R+#-(*'#2*-1)+3)'#-#$%2'*('.%+(-#$%"#.)8.-#2'H8=#2%*-#3-+#0+#3-+Y
(%F(-#8-3)-%3-+?.)3-j%3-"?5)3-j30"(0*'"#$)8()+(-#'"#"05'*#$%"#-*)5%+
NC# R+#-(*-#2'H8#$%"#.)8.-#3-+()+%+(%

5. Enotropasdeotrocontinente
L*%-#/0%#8%#$)*H'#/0%#"'#-23)?+#:#+-#%8#>.)5*'3)?+@#.)%+(*'8#N#6#k#8H#"-#
)"&M#/%0&1,14(.%&,%#!"#)"&#)1#+&#-(.71"#/%#'%)1/%&-1(#2+%#%81$%#-'+L('#
0+'#,*-+(%*'#8)%.2*%#30%+('#3-.-#>.)5*'3)?+@#93*)(%*)-#.%+3)-+'$-#2-*#
7)3C#l%+%#[%*%)*'=#3-.0+)3'3)?+#2%*8-+'"<C#D-#B%#*%'")a'$-#0+#8-+$%-#
8)8(%.W()3-#'"#*%82%3(-#$%#"'8#-23)-+%8#M#6#]=#2%*-#8%5e+#1%*%.-8#%+#
"-8# 2W**',-8# 8)50)%+(%8=# %+# G-")1)'# %"# 3'.&)-# 98020%8(-<# $%# W.&)(-#
)"-1"-+!,+'(!#7(),(#3('(#-(!10-('#+&#,'()!(/"#-"."#I.1$'(-1G&J#(+&2+%#
"'#$)8('+3)'#%+(*%#-*)5%+#6#$%8()+-#+-#8%'#.06#5*'+$%J#'"#.%+-8=#8%#
1/%&,10-(#%!#-(.71"#/%#'%)1/%&-1(#/%#+&(#-".+&1/(/#'+'(!#(#+&#-%&,'"#
0*&'+-# 3-.-# >.)5*'3)?+@# '0+/0%# 8?"-# 8%# (*'('# $%# .-1%*8%# $%# 0+'#
3-.0+)$'$#$%#"-8#'"*%$%$-*%8#'"#20%&"-#-#"'#3)0$'$#.W8#3%*3'+'C#c+3"08-#
30'+$-# 8%# B'&"'# $%# >.)5*'3)?+# *0*'"Y*0*'"@# 80%"%# (*'('*# $%# (*'8"'$-8#

!"#$%&%'()$*"%&+,&-.

1#3

%+(*%#3-+(%F(-8#%3-"?5)3-8#6#2*-$03()1-8#3-+(*'8('+(%8=#2*)+3)2'".%+(%#
$%8$%# %"#!"()2"'+-# B'8('# a-+'8# (*-2)3'"%8# $%# 3-"-+)a'3)?+C# ^D0+3'#
-30**%# /0%# '"50)%+# 8%# (*'8"'$'# $%8$%# 0+'# 3-.0+)$'$# '"()2"W+)3'# '#
-(*'=#3%*3'+'#-#"%X'+'_#^`#8%#$%83-+-3%#$'(-8#'"#*%82%3(-#2-*/0%#+-#
8%#"-8#3-+8)$%*'#>.)5*'3)?+@#6#2-*#('+(-#+-#8%#B'#)+(%+('$-#'1%*)50'*_#
!20+(-#'#/0%#3'8-8#$%#-23)?+#M#+-#8%*H'+#>.)5*'3)?+@#2-*#d)"$#2%*-#
-23)?+#]#8H#"-#8%*H'+C#!#"'#1%a=#0+#.'(*).-+)-#%+(*%#0+'#2%*8-+'#$%#
[0+-#6#-(*'#$%#!3B'3'3B)#-#d0'/0)=#-#$%#$-8#2%*8-+'8#2*-3%$%+(%8#$%#
"-8#$-8#Q%8'50'$%*-8#9&-")1)'+-#6#2%*0'+-<#8%*H'#-23)?+#N#6#2-*#('+(-#
>.)5*'3)?+@=#'#"'#1%a#/0%#+)+50+'#$%#"-8#$-8#(%+$*H'#/0%#8'")*#$%#80#
3-+(%F(-#8-3)-%3-"?5)3-#$%#-*)5%+J#2'8'+#'#8%*#>.)5*'3)?+@#8).2"%.%+(%#
2-*#"'#%F)8(%+3)'#'*&)(*'*)'#$%#0+'#"H+%'#,*-+(%*)a'=#/0%#()%+%#%"#.)8.-#
%H%-,"#-!()10-(,"'1"#)1&#1.3"',('#)1#9(*#-"&,1&+1/(/#-+!,+'(!#(#,'(4E)#
$%#"'#,*-+(%*'=#3-.-#-30**%#%+#%"#Z)()3'3'#6#"-8#3-+(*'6%+(%8#1)1%+#%+#
"05'*%8#3%*3'+-8=#-#8)#8%#(*'('#$%#3-+(*'6%+(%8#$%#2')8%8#$)8('+(%8#6j-#$%#
30"(0*'8#&'8('+(%#$),%*%+(%8=#2-*#%X%.2"-#30'+$-#0+'#2%*8-+'#$%#G-")1)'#
8%#3'8'#3-+#0+'#&*'8)"%*'#-#1%+%a-"'+'#6#8%#1'#'"#2'H8#$%#80#3?+605%C#
#
7'#-23)?+#k#3'08'#2*-&"%.'8#2-"H()3-8#'#+)1%"#)+(%*+'3)-+'"C#4%#80%"%#
3-+8)$%*'*#/0%#(-$-#3)0$'$'+-]#$%#0+#2'H8#()%+%#$%*%3B-#$%#(*'%*#'#80#
3?+605%#8)#A8(%#2*-3%$%#$%#-(*-#2'H8#6#$'*"%#"'#+'3)-+'")$'$#3-+#(-$-8#
"-8#$%*%3B-8#/0%#A8(%#'3'**%'J#3"'*-=#(*'('+$-#8)%.2*%#/0%#*%'".%+(%#
8%'#80#+,(-./!C#['H8%8#$%"#[*).%*#V0+$-#80%"%+#8-82%3B'*#/0%#2%*8-+'8#
$%"#Z%*3%*#V0+$-#/0%#)+(%+('+#%+(*'*#'"%5'+$-#.'(*).-+)-#3-+#0+'#
2%*8-+'# +'3)-+'"# $%"# 2'H8# $%8'**-""'$-=# %+# *%'")$'$# 8-+# >.)5*'+(%8#
%3-+?.)3-8@=#-#8%'#2%*8-+'8#/0%#&083'+#(*'&'X'*#%+#%"#2'H8#$%"#$%8()+-#
*#%),C&#0&$1%&/"#.(,'1."&1"#3('(#-"&)%$+1'#!(#'%)1/%&-1(#!%$(!M#,'+-"#
/0%#%8('*H'#3-.2*-&'$-#8)=#2-*#%X%.2"-=#$%820A8#$%#0+#2'*#$%#'S-8#"'#
2'*%X'#8%#$)1-*3)'#6#%"#3?+605%#%F(*'+X%*-#6'#+'3)-+'")a'$-#8%#/0%$'#
(*'+/0)"'.%+(%#%+#%"#"05'*#$%#$%8()+-C#[%*-#8)%.2*%#B'6#.'(*).-+)-8#
/0%#,*'3'8'+#%+#3-*(-#2"'a-=#8)+#/0%#%8(-#$%.0%8(*%#/0%#0+-#-#'.&-8#
-"&,'(*%&,%)#*(#3!(&10-(7(&#%)"#%&#%!#/F(#/%#!(#7"/(M#-"."#,(.71E&#%)#
]# !/0H#%83*)&%#8?"-#%+#.'830")+-=#2-*/0%#W0+#2%*8)8(%+#'3()(0$%8#2'(*)'*3'"%8#/0%#
-(-*5'+#"'#3)0$'$'+H'#3-.2"%('#8?"-#'#1'*-+%8=#/0)%+%8#20%$%+#+'3)-+'")a'*#'#808#
%82-8'8# 8)+# 2*-&"%.'8=# .)%+(*'8# 8%# 2-+%# (*'&'8# '# i3)0$'$'+'8i# /0)%+%8# &083'+#
+'3)-+'")a'*#'#808#%82-8-8#%F(*'+X%*-8C

1#4

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

3)%*(-#/0%#%F)8(%+#"-8#""'.'$-8#.'(*).-+)-8#$%#3-+1%+)%+3)'=#$-+$%#
0+'#$%#"'8#2'*(%8#2'5'#'#"'#-(*'#2'*'#3%"%&*'*#0+#.'(*).-+)-#/0%#"%#
$'*W#"'#+'3)-+'")$'$#8)+#/0%#B'6'#1H+30"-#8%+().%+('"#'"50+-#$%#2-*#
.%$)-CN#7'#8)(0'3)?+#8%#3-.2")3'#'e+#.W8#(*'('+$-#$%#30"(0*'8#$-+$%#8%#
'3-8(0.&*'#%"#.'(*).-+)-#2-*#3-+3%*('3)?+#6#"-8#+-1)-8#20%$%+#""%5'*#
'#3-+-3%*8%#2-*#2*).%*'#1%a#%+#%"#.)8.-#$H'#$%#"'#&-$'C#R8#%"#3'8-#$%#
5%+(%#-*)0+$'#$%#['/0)8(W+#6#G'+5"'$%8B=#6'#%8('&"%3)$'#%+#c+5"'(%**'=#
/0%#&083'#+-1)'8#2'*'#808#B)X-8#%+#808#"05'*%8#$%#-*)5%+C#R8('8#+-1)'8#
B'+#8)$-#80X%('$'8#'#(*W.)(%8#B0.)""'+(%8#'"#""%5'*#'#d*'+#G*%('S'=#B'8('#
2*0%&'8#$%#1)*5)+)$'$#96'#/0%#%+#%8('8#30"(0*'8#)8"W.)3'8#8%#%F)5%#/0%#
"'#+-1)'#8%'#1)*5%+=#8%#802-+%#/0%#8)#%"#%F'.%+#.A$)3-#)+$)3'#/0%#+-#
"-#%8=#8%#"'#%F20"8'#'*50.%+('+$-#/0%#"'#&-$'#'#*%'")a'*8%#%*'#0+#.%*-#
2*%(%F(-# 2'*'# "-5*'*# "'# *%8)$%+3)'# "%5'"<C# [-*# 8020%8(-# +-# 8%# )+(%+(?#
'1%*)50'*#8-&*%#"'#1)*5)+)$'$#$%"#.'*)$-#&-")1)'+-#$%#"'#+-('#$%#2)%#
$%# 2W5)+'# '+(%*)-*=# 2%*-# A"# 6# 80# %82-8'# 2'8'*-+# 2-*# )+(%**-5'(-*)-8#
-,%+8)1-8#8-&*%#$%('""%8#$%#80#1)$'#2*)1'$'C#
#
['*%3%# /0%# B'6# 3)%*(-# 3-+8%+8-=# .W8# '""W# $%# "'# '+(*-2-"-5H'# $%"#
2'*%+(%83-=# /0%# 8)# 0+'# 2%*8-+'# 8%# (*'8"'$'# '# -(*-# "05'*=# +-# ).2-*('#
30W+# "%X-8=# 2-*/0%# 80# 3?+605%# %8# $%# %8%# 8)()-=# %8-# %8# >.'(*).-+)-@=k#
+-# >.)5*'3)?+@J# %"# 2*-&"%.'# %8# /0%# 2'*'# $)8()+50)*# %8(-8# 3'8-8# $%# "'#
>.)5*'3)?+@# /0%# ()%+%# -(*-8# *%/0)8)(-8# "%5'"%8# 6# 3-+(*-"%8=# +-# &'8('+#
-%',10-(/")#/%#.(,'1."&1"5#,%),1."&1")#/%#+&#-".3'".1)"#H"'.(!#/%#
N# Z%+5-#3-+-3).)%+(-#2%*8-+'"#$%#(*%8#3'8-8O#$-8#.0X%*%8#%8('$-0+)$%+8%8#/0%#2'5'Y
*-+#'#B-.&*%8#&*)(W+)3-8=#6#0+'#.0X%*#&*)(W+)3'#/0%#2'5?#'#0+#%8('$-80+)$%+8%C#
L-)+3)$%+('".%+(%=# "-8# $-8# 1'*-+%8# &*)(W+)3-8# %*'+# gays# &'8('+(%# ',%.)+'$-8=#
2%*-#2'*%3%#/0%#%"#.%+3)-+'$-#2*%X0)3)-#2'(*)'*3'"#&'8('&'#2'*'#/0%#808#8020%8('8#
.0X%*%8#20$)%*-+#+'3)-+'")a'*8%#8)+#(%+%*#/0%#3-.2*-&'*#/0%#*%'".%+(%#1)1H'+#
.'(*).-+)'".%+(%#3-+#808#i.'*)$-8iJ#'$%.W8=#(-$-8#6#(-$'8#%*'+#&"'+3-8#$%#30"Y
(0*'#'+5"-8'X?+C#V06#$),%*%+(%#%*'#%"#3'8-#$%#0+'#&*)(W+)3'#/0%#B'&H'#1)1)$-#'S-8#
5%+0)+'.%+(%#3'8'$'#3-+#80#.'*)$-#&-")1)'+-#+-#&"'+3-=#2%*-#"'8#'0(-*)$'$%8#$%#
d*'+#G*%('S'#208)%*-+#.03B'8#(*'&'8#2'*'#-(-*5'*#"-8#$%*%3B-8#$%#+'3)-+'")$'$#
6#*%8)$%+3)'#'"#.'*)$-C#
k# R+#R82'S'#8%#B'&"'#$%#i*%0+)?+#,'.)")'*i#6#8%#%F()%+$%#'#"-8#B)X-8#%+#'$)3)?+#'"#3?+605%=#
'0+/0%#%+#%8(%#3'8-#2'*%3%#/0%#8?"-#8%#'2")3'#'#.'(*).-+)-8#6'#,-*.'")a'$-8#%+#%"#
2'H8#$%#-*)5%+C#L"'*-#/0%#*%,%*%+(%#'#"-8#B)X-8#('.&)A+#20%$%+#80*5)*#30%8()-+'.)%+(-8#
8-&*%#"'#1W")$%a#$%#"-8#2'2%"%8#/0%#$%.0%8(*'+#/0%#*%'".%+(%#8-+#B)X-8#$%#"'#2%*8-+'#
-#2%*8-+'8#/0%#8-")3)('+#i*%0+)*8%i#3-+#%""-8#%+#%"#2'H8#$%#$%8()+-C

!"#$%&%'()$*"%&+,&-.

1#5

3'8'*8%#6#8).)"'*%8=#8)+-#B'6#/0%#%1'"0'*#"'8#)+(%+3)-+%8#80&X%()1'8#$%#
"'8#2%*8-+'8#)+1-"03*'$'8C#4)+#"'#(%"%2'(H'#X'.W8#8%#20%$%#3-+-3%*#A8('8#
/%#.(&%'(#/%0&1,14(5#%&,"&-%)#)%#!")#(,'17+*%#%&#7()%#(#!()#1.3'%)1"&%)#
$%#"-8#,0+3)-+'*)-8#$%#"'#.)5*'3)?+#3-+#80#2*-2)'#d)"$=#/0%#2-*#%X%.2"-#
"%8#)+$03%#'#$0$'*#$%#'+(%.'+-#$%#0+#.'*)$-#&-")1)'+-#.)%+(*'8#$%X'+#
2'8'*# '# 0+'# %8('$-0+)$%+8%# /0%# '"%5'# 8%*# 3'8'$'# 3-+# 0+# &*)(W+)3-#
',%.)+'$-C#Z'.&)A+#%8#$%#+-('*=#/0%#+-#-&8('+(%#%"#*%3B'a-#%F2*%8-#
$%#>.)5*'+(%8#%3-+?.)3-8@#/0%#&083'+#%+(*'*#'"#[*).%*#V0+$-#2'*'#
(*'&'X'*# 9$%820A8# 3-.%+('*A# .W8# 8-&*%# "'8# 3-+(*'$)33)-+%8# )+(%*+'8#
$%#%8('#2-8(0*'<=#30'+$-#8%#(*'('#$%#%1'"0'*#"'#1W")$%a#$%#3'.&)-8#$%#
*%8)$%+3)'# 2-*# .'(*).-+)-j*%0+)?+# ,'.)")'*=# *%80"('# )**%"%1'+(%# 8)# %"#
3?+605%#'#8%*#+'3)-+'")a'$-#2-$*W#-#/0%**W#(*'&'X'*#'""H=#8%*W#.'+(%+)$-#
2-*#80#3?+605%#+'()1-#-#('"#1%a#B'8('#.'+(%+$*W#'#A8(%#93-+#80#(*'&'X-#
-#0+#2'(*).-+)-#/0%#6'#2-8%%<C#
#
Z'.2-3-#8%#'1%*)50'#8)#"'#2%*8-+'#/0%#&083'#>*%0+)*8%@#3-+#,'.)")'*%8#
8%*W#3'2'a#$%#.'+(%+%*"-8#8)#8-+#.%+-*%8#$%#%$'$#-#3'*%3%+#$%#B'&)")Y
$'$%8#1%+$)&"%8#%+#%"#.%*3'$-#"'&-*'"#$%"#2'H8#$%#$%8()+-=#'0+/0%#-(*-#
%"%.%+(-#$%#"'#d)"$#%0*-2%'#8-&*%#"'8#6#"-8#>.)5*'+(%8@#%8#/0%#80#.%('#%8#
'2*-1%3B'*8%#.W8#/0%#(-$-#$%#"'8#2*%8('3)-+%8#8-3)'"%8#$%#/0%#5-a'+#"'8#
6#"-8#*%8)$%+(%8#"%5'"%8C#m'.)")'*%8#>*%0+)$-8@#/0%#+-#20%$%+#8%*#.'+Y
(%+)$-8#2-*#"'#2%*8-+'#/0%#*%/0)*)?#80#2*%8%+3)'#"%5'"#+%3%8'*)'.%+(%#
(%+$*H'+#/0%#*%30**)*#'#%8('8#2*%8('3)-+%8C#4)+#%.&'*5-=#2'*%3%#/0%#8%#
(*'('#%"#2'*%+(%83-#3-.-#0+#$-.)+)-#'0(?+-.-#/0%#-(-*5'#$%*%3B-8#
)+30%8()-+'&"%8#/0%#8-&*%2'8'+#30'"/0)%*#3-+8)$%*'3)?+#%3-+?.)3'#b#
8)%.2*%#/0%#8%#(*'('#$%#0+#2'*%+(%83-#0!/1%'2)C#R8#)+(%*%8'+(%#/0%#"-8#
,0+3)-+'*)-8#&*)(W+)3-8#%8('&'+#$)820%8(-8#'#3-+(%.2"'*=#B'8('#3)%*(-#
20+(-=#"%5)().)$'$%8#$%#2'*%+(%83-#'X%+'8#'#"'8#806'8=#3-.-#2-*#%X%.2"-#
"'#+-1)'#&'+5"'$%8B)#3-+3%*('$'#/0%#+-#3-+-3H'#'#80#+-1)-#2%*-#'e+#
'8H#%*'#"%5H().'#8)#*%80"('&'#,H8)3'.%+(%#1)*5%+J#2%*-#80#*%3-+-3).)%+(-#
,-*.'"#$%#%8('#-(*'#"%5)().)$'$#B'&*H'#$'$-#"05'*#'#"'8#2*W3()3'8#-,%+Y
8)1'8=#6'#/0%#$%+(*-#$%#"'#30"(0*'#2*-2)'#$%#G'+5"'$%8B#%8#%"#B-+-*#6#
"'#*%20('3)?+#$%#"'#,'.)")'#$%#"'#+-1)'#/0%#5'*'+()a'#80#1)*5)+)$'$=#6#
%F)5)*#3-.2*-&'*"-#'#(*'1A8#$%"#('3(-#.'+0'"#$%#0+#.A$)3-#%8#0+#)+80"(-#
'#,-+$-#'#%8%#B-+-*#,'.)")'*C#

1#)

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

R8#/0%#%"#8)8(%.'#$%#2'*%+(%83-#%8#0+-#$%#"-8#3'.2-8#30"(0*'"%8#/0%#8%#
1)1%#$%#.'+%*'#.W8#d,"'+$=#6#B'8('#"'8#6#"-8#'+(*-2?"-5-8#/0%#'"#.%+-8#
B'+#*%3-+-3)$-#/0%#%8#0+#8)8(%.'#6#+-#8).2"%.%+(%#0+'#1)1%+3)'#6#
0+-8# 8%+().)%+(-8=# B'+# '1'+a'$-# 2-3-# %+# '+'")a'*# 3?.-# %"# 8)8(%.'#
,-*.'"#%F2*%8'$-#%+#5%+%'"-5H'8=#8)8(%.'8#$%#(%*.)+-"-5H'=#*%5"'8#$%#
)+3%8(-#6#$%.W8#8%#B'3%#*%'")$'$#%+#"'8#1)1%+3)'8#$)'*)'8#)+%1)('&"%.%+(%#
)+$)1)$0'")a'$'8#6#80X%('8#'#3'80'")$'$%8#%F(%*+'8C#K-"1%*A#'#%8(%#(%.'#
'"#(*'('*#$%#"'8#>,'.)")'8#(*'+8+'3)-+'"%8@C#R+#%8(%#.-.%+(-#8?"-#/0)%*-#
%+,'()a'*#$-8#3*)(%*)-8#%F(*'H$-8#$%#%8(%#2*).%*#%8(0$)-#$%#3'8-O
:C## U+#3'.&)-#$%#*%8)$%+3)'#/0%#'(*'1)%8'#0+'#,*-+(%*'#+'3)-+'"#R4#
Vcdl!LcnDC
MC## U+#3'.&)-#$%#*%8)$%+3)'#2'*'#9*%<0+)*8%#3-+#%"#.'*)$-=#"'#.0X%*=#
"'#.'$*%#6j-#%"#2'$*%#D`#R4#Vcdl!LcnDC
#
\%#$%.-8(*'$-#/0%#B'6#3'8-8#*%'"%8#$-+$%#%8(-8#$-8#'F)-.'8#%+(*'+#
%&#-"&,'(/1--1G&#*#3'"4"-(&#-"&R1-,")#(!#1&,%&,('#%),(7!%-%'#-+C!#/%#!()#
$-8#$%&%#'2")3'*8%#'"#3'8-#%+#30%8()?+C#!B-*'#/0)%*-#$%X'*#2-*#0+#*'(-#
%"#(%.'#$%#>.)5*'3)?+#)+(%*+'3)-+'"@#2'*'#(*'('*#"'#>.)5*'3)?+#)+(%*+'@=#
%8#$%3)*=#(*'8"'$-8#-#3'.&)-8#$%#*%8)$%+3)'#$%+(*-#$%#"'8#,*-+(%*'8#$%#0+#
.)8.-#2'H8C#R+#"-8#%8(0$)-8#8-3)'"%8#&-")1)'+-8=#6-#+-(-#0+'#-&8%8)?+#
3-+# %8(%# (%.'J# 2'*%3%# /0%# 2'*'# %83*)&)*# 8-&*%# R"#!"(-=# +-# ).2-*('# 8)#
8%# (*'('# $%# *%")5)-8)$'$# 2-20"'*=# 2-"H()3'# &'**)'"# -# -*5'+)a'3)?+# $%#
('""%*%8# '*(%8'+'"%8=# %8# -&")5'(-*)-# B'3%*# B)+3'2)A# %+# /0%# R"#!"(-# %8#
0+'# 3)0$'$# 2-&"'$'# 2-*# >.)5*'+(%8@# 6# %+# 2'*()30"'*=# >.)5*'+(%8@# $%#
-*)5%+#*0*'"#9$%X'+$-#$%#"'$-#/0%#B'6#&'8('+(%#5%+(%#'8%+('$'#%+#R"#
!"(-#2*-3%$%+(%#$%#-(*'8#3)0$'$%8#6#2-&"'3)-+%8#3-.-#3%+(*-8#.)+%*-8#
/0%# +-# 8%# 3-+8)$%*'&'+# >*0*'"%8@<C# 4%# '80.%# $%# '+(%.'+-# /0%# %8(%#
-*)5%+#>.)5*'+(%@#8%*H'#$%(%*.)+'+(%#$%#"'8#2*W3()3'8#'"(%S'8#/0%#"0%5-#
$%83*)&%+=#8)+#)+(%+('*#'1%*)50'*#b#2-*#%X%.2"-#b#8)#%8-8#&'**)-8#/0%#
*%'".%+(%#%FB)&H'+#>.)3*-5-&)%*+-8#&'**)'"%8@=#3-.-#*%2*-$033)-+%8#
$%#"'8#,-*.'8#$%#-*5'+)a'3)?+#3-.0+'"#*0*'"=#$0*'+(%#"'#d0%**'#$%"#
d'8#%+#MII]=#%,%3()1'.%+(%#8%#$%8('3'&'+#2-*#(%+%*#0+'#.'6-*H'#$%#
B'&)('+(%8# >.)5*'+(%8@# $%# 2*).%*'# 5%+%*'3)?+# $%"# W*%'# *0*'"=# 1%*808#
%8-8# &'**)-8# $-+$%# "'# -*5'+)a'3)?+# /0%# B'&H'# %+# %8'8# 8%.'+'8# $%#
2*-(%8('8#%*'#%82-+(W+%'#6#'+W*/0)3'=#8)+#2*%8%+3)'#$%#"'#X0+('#1%3)+'"#

!"#$%&%'()$*"%&+,&-.

1#7

0#-(*'#-*5'+)a'3)?+#2*%Y%F)8(%+(%#96'#/0%#+-#(-$-8#"-8#&'**)-8#+)#.03B-#
.%+-8#8%#-*5'+)a'&'+#,-*.'".%+(%#2'*'#2*-(%8('*=#'0+/0%#+-#+)%5-#
/0%#'"50+-8#"-#B'3H'+<C#
#
Z'.2-3-#%8#.06#e()"#3-.-#)+$)3'$-*#%"#8%*#>.)5*'+(%@#8)#8?"-#8%#(-.'#
%+#30%+('#%"#"05'*#$%#+'3).)%+(-J#0+'#2%*8-+'#/0%#+'3)?#%+#%"#3'.2-#
2%*-# ""%5?# '# "'# 3)0$'$# '+(%8# $%=# $)5'.-8=# "-8# $)%a# 'S-8=# ()%+%# 0+'#
8-3)'")a'3)?+#&W8)3'.%+(%#0*&'+'=#'#$),%*%+3)'#$%#'"50)%+#/0%#""%5?#'#"'#
-1+/(/#/%#<S#(#:;#(T")#/%#%/(/#"#.C)5#-+(&/"#/%0&1,14(.%&,%#9(7'F(#
2'*()3)2'$-#'3()1'.%+(%#3-.-#'3(-*#%3-+?.)3-#%+#%"#3'.2-#6#b#%+#('+(-#
.W8#.'6-*=#%8#.W8#2*-&'&"%#6#B'8('#)+%1)('&"%#b#3-.-#'3(-*#2-"H()3-#%+#
!(#"'$(&1L(-1G&#-".+&(!@#N!#$'(/"#/%#1&,%'(--1G&#%#1/%&,10-(-1G&#2+%#
8%#.'+()%+%#3-+#%"#"05'*#$%#-*)5%+#%8#.06#1'*)'&"%=#$%8$%#0+'#*02(0*'#
(-('"#9'"50+-8#*%Be8'+#1-"1%*#8)/0)%*'#2'*'#%"#%+()%**-#$%#808#2'$*%8<#
B'8('# 1)8)('8# 3'8)# 8%.'+'"%8=# 2'8'+$-# 2-*# %"# 5*'$-# )+(%*.%$)-# $%# )*#
)G!"#%&#H%'1(/")5#B%.(&(#B(&,(#"#3('(#!(#0%),(#3(,'"&(!@#U")#-()")#/%#
1)8)('8#.06#,*%30%+(%8#80%"%+#3-**%82-+$%*#'#(%+%*#0+'#2'*()3)2'3)?+#
%3-+?.)3'#%+#%"#"05'*#$%#-*)5%+=#'"5-#/0%#2-*#.%$)'$-8#$%#"-8#:;;I#
'8-3)W&'.-8# 3-+# +-# B'&%*# "-5*'$-# 0+'# )+8%*3)?+# %3-+?.)3'# %8('&"%#
%+#"'#3)0$'$#9>*%8)$%+(%8#$%2%+$)%+(%8@=#42%$$)+5#6#7"'+-8#:;;;O]]<C#
[-8(%*)-*.%+(%=# "'# 80&)$'# $%"# 2*%3)-# $%# '"50+-8# 2*-$03(-8# '+(%8#
2-3-#*%+('&"%8=#3-.-#"'#/0)+0'#%+#%"#!"()2"'+-#80*=#0#-2-*(0+)$'$%8#
'.2")'$'8#$%#3-.%*3)'")a'3)?+#$%#2*-$03(-8#%8('&"%3)$-8#%+#%"#.%*3'$-=#
3-.-#"'8#>3'*2%('8#'"#$%('""%@#/0%#2%*.)(%+#'#2%*8-+'8#+-.)+'".%+(%#
'1'"'$'8#3-.-#>2*-$03(-*%8@#%+#3-.0+)$'$%8#3-3'"%*'8#1%+$%*#3-3'#%+#
(-$-#%"#)+(%*)-*#$%"#2'H8=#B'&*H'+#'+).'$-#'#-(*-8#*%8)$%+(%8#/0%#(%+H'+#
)+5*%8-8#%8('&"%8#%+#"'#3)0$'$=#'#*%(-.'*#1H+30"-8#3-+#808#3-.0+)$'$%8#
$%#-*)5%+#2'*'#'2*-1%3B'*#$%#%8('8#+0%1'8#2-8)&)")$'$%8#$%#)+5*%8-8C#
!e+#+-#8%#$)82-+%#$%#%8(0$)-8#8-3)-"?5)3-8#$%#%8(-8#2*-3%8-8T#6#'0+/0%#
T# o0%#%8('&"%3%+#/0)A+%8=#%+(*%#"-8#*%8)$%+(%8=#B'+#-2('$-#2'*'#)+8%*('*8%#%+#%8('8#
'3()1)$'$%8J#/0A#'3()1)$'$%8#(%+H'+#A8(-8#%+#"'#3)0$'$#6#8)#"-8#B'+#$%X'$-#'#3'.&)-#
$%#"'8#+0%1'8=#"'8#.'+()%+%+#%+#,-*.'#2'*'"%"'#-#B'8('#*%80"('+#3-.2"%.%+('*)'8#
6# 8%# 2-(%+3)'+# .0(e'.%+(%J# 8)# "'# 3-.0+)$'$# "%8# B'# ).20%8(-# %F)5%+3)'8=# 3-.-#
2-*#%X%.2"-#(%+%*#/0%#*%8)$)*#'""H#.W8#-#.%+-8#2%*.'+%+(%.%+(%#$0*'+(%#'"5e+#
'S-#2'*'#B'3%*#0+#3'*5-=#'#3'.&)-#$%#B'3%*#08-#$%#"-8#+0%1-8#*%30*8-8=#-#8)#8%#"%8#
2%*.)(%#3-**%82-+$%*#3-+#"'8#3-+(*)&03)-+%8#.W8#(H2)3'8#$%#*%8)$%+(%8#2-*#%F)5)*#
3"-"#,1%.3"#/%#%),(/F(#%&#!(#-".+&1/(/#D3()('#0%),(5#3(/'1&(L$")##?#"#,(!#4%L#&"#!%)#

1#"

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

"-8# B0&)%*'=# 808# $%('""%8# +-# 1)%+%+# '"# 3'8-J# %"# 20+(-# %8# /0%# "'# 5*'+#
$)1%*8)$'$#$%+(*-#$%"#3-+X0+(-#$%#>.)5*'+(%8@#$%#-*)5%+#*0*'"#/0%#'B-*'#
*%8)$%+#%+#"'8#3)0$'$%8=#/0)('#(-$-#1'"-*#%F2")3'()1-#'#%8('#3'(%5-*)'#8)#
%8#'2")3'$-#'8H#$%#.'+%*'#5"-&'"C
#
^[-*# /0A# 20%8# 8%# "-# 8)50%# .%+3)-+'+$-# $%# .'+%*'# 3'8)# *)(0'"_# U+'#
*'a?+# %8# /0%# "'# (*'+8)3)?+# $%# 0+# 2'H8# .'6-*)('*)'.%+(%# *0*'"# '# 0+-#
.'6-*)('*)'.%+(%#0*&'+-#%8#('+#*%3)%+(%#%+#G-")1)'#9-30**)?#%+#%"#"'28-#
)+(%*3%+8'"# %F'5%*'$-# $%# :;pT# '# :;;M=# +-# 8A# 8)# B'6# 0+'# %8().'3)?+#
.W8#-#.%+-8#2*%3)8'#$%#"'#,%3B'#$%#"'#(*'+8)3)?+<#6#B'#-30**)$-#%+#('+#
2-3-# ()%.2-# /0%# %8# 'e+# 8-*2*%+$%+(%# 6# $)5+-# $%# 8%*# *%.'*3'$'# "'#
2*%8%+3)'#$%#('+(-8#*%3)A+#""%5'$-8#'#"'#1)$'#0*&'+'C#[%*-#3*%-#/0%#.W8#
/0%#"'#*W2)$%a#3*-+-"?5)3'#$%"#2*-3%8-=#"-#/0%#-&")5'#'#$%8('3'*"-#%8#
%F'3('.%+(%#%8-=#"'#1)8)?+#$%#%8('8#6#%8(-8#>.)5*'+(%8@#3-.-#""%5'$-8#
$%#-(*-#3-+(%F(-#8-3)-30"(0*'"#'#0+#.0+$-#/0%#"%8#%*'=#6#('"#1%a#'e+#
!%)#%)5#(6%&"@#N&#!")#3(F)%)#/%!#V'1.%'#W+&/"#)1$+%&#"-+''1%&/"#R+6")#
$%#2-&"'3)?+#$%#0+'8#*%5)-+%8#'#-(*'8=#2%*-#8?"-#8%#"-8#.%+3)-+'#3-.-#
2'*(%#$%#"-8#$'(-8#5%+%*'"%8#$%#"'#8)(0'3)?+#$%"#2'H8=#+-#8%#"-8#$%+-.)+'#
>.)5*'3)?+@C#7-#/0%#2*%-302'#6#8%#)+1%8()5'#%8#>'(.)5*'3)?+@=#%8#$%3)*=#
"'#2-&"'3)?+#%F(*'+X%*'#/0%#%+(*'#'"#2'H8#$%8$%#',0%*'C#o0%#"'#2-&"'3)?+#
+'3)-+'"#3)*30"%#3-+8('+(%.%+(%#$%+(*-#$%"#2'H8=#2*)+3)2'".%+(%#2-*#
.-()1-8# $%# %.2"%-# 6# $%# %$03'3)?+# 91-"1%*A# "0%5-# 8-&*%# "'# 30%8()?+#
%)3%-F0-(#/%#I.1$'(-1G&J#3"'#%/+-(-1G&?#%)#)1.3!%.%&,%#(!$"#&"'.(!#
%+#"'#1)$'#8-3)'"C#Q%#%8(-#$%$0a3-#-(*-#3*)(%*)-O
]C#7-8#3'.&)-8#$%#*%8)$%+3)'#$%+(*-#$%"#.)8.-#2'H8#8-+#Vcdl!LcnD#
30'+$-#8%#'80.%#93-+#-#8)+#*'a?+<#/0%#D`#B'6#0+'#30"(0*'#+'3)-+'"#
B-.-5A+%'# 3-.2'*()$'# 2-*# (-$'8# "'8# *%5)-+%8# $%"# 2'H8# %+# 30%8()?+C#
L0'+$-# %"# (*'8"'$-# ""%1'# '# 0+# W.&)(-# 8-3)-30"(0*'"# >$)8()+(-@# '"# $%#
2)$%+#+'$'#%+#2'*()30"'*J#8)#"-8#/0%#B'+#"-5*'$-#)+8%*('*8%#%+#"'8#+0%1'8#'3()1)$'$%8#
B'&H'+#.'+(%+)$-#0+#.H+).-#$%#1H+30"-8#8-3)'"%8#2%*8-+'"%8=#$)5'.-8#""%5'+$-#
+&(#4%L#(!#(T"#3('(#!(#0%),(#"#X"/")#B(&,")5#"#(3('%-F(&#/%)3+E)#/%#+&(#(+)%&-1(#
.06#2*-"-+5'$'#2%*-#8%#)+8%*('*-+#3'&'"5'+$-#8-&*%#2'*)%+(%8#9$%#*%2%+(%#.06#
2-&*%8#-#'+3)'+-8<#/0%#8H#B'&H'+#/0%$'$-#'""W#30.2")%+$-#3-.-#8%'#3-+#"-8#$%&%*%8#
2'*'#.'+(%+%*#"-8#$%*%3B-8#8-&*%#"-8#(%**%+-8=#-#8).2"%.%+(%#8%#2*%8%+('&'+#6#8%#
B'3H'+#1'"%*#3-+#80#2"'('#6#")8(-C##

!"#$%&%'()$*"%&+,&-.

1##

"'1$%&5#%)#WYZ[K\Y]^#(+&2+%#!(#/1),(&-1(#$%"$'C0-(#%&,'%#"'1$%&#*#
$%8()+-#+-#8%'#5*'+$%C
#
7-8#%0*-2%-8#2)%+8'+#/0%#(-$'8#6#(-$-8#%""-8#3-.2'*(%+#0+'#30"(0*'#
3-.e+=#%F2*%8'$-#%+#"'#%").)+'3)?+#$%#&'**%*'8#'"#.-1).)%+(-#%+(*%#
"-8# 2'H8%8# /0%# ,-*.'+# 2'*(%# $%# "'# U+)?+# R0*-2%'# 96# ('.&)A+# %+# "-8#
*%2'*-8#'#'3%2('*#'#Z0*/0H'#3-.-#2'*(%#$%#"'#.)8.'=#+-#8?"-#2-*#8%*#
.(*"'.%&,%#I()1C,1-"J#)%$_&#",'(#('71,'('1%/(/#/%#-!()10-(-1G&5#)1&"#
2-*#8%*#)8"W.)3-=#/0%#8H#%8#>-(*'#30"(0*'@<C#4)#"-8#%0*-2%-8#/0%#%+(*'&'+#
%&# .()(# (# !")# NN@``# (# 0&%)# /%!# )1$!"# aYa# %'(&# -!()10-(/")# -"."#
>.)5*'+(%8@#%*'#2-*/0%#%8%#2'H8#%+#%8'#%+(-+3%8#'80.H'#/0%#80#30"(0*'#
%*'#"'#1'*)'+(%#+-*(%#%0*-2%'#2*-(%8('+(%#9"'#'+5"-8'X-+'=#&W8)3'.%+(%<#
6#%8-8#>)+.)5*'+(%8@#%*'+#.'6-*.%+(%#3'(?")3-8=#3*)8()'+-8#-*(-$-F-8#
-#X0$H-8#$%"#80*#6#%8(%#$%#R0*-2'C#!B-*'#"'#2*-2)'#1)8)?+#%0*-2%'#$%#
>80@#30"(0*'#8%#B'#10%"(-#.W8#)+3"08)1'#6#0+9'<#.)5*'+(%#()%+%#/0%#8%*#
%F(*'Y%0*-2%-#3-+#0+'#30"(0*'#(-('".%+(%#$)8()+('=#*%80.)$'#3-+#.'6-*#
,'3)")$'$#%+#(%+%*#0+'#*%")5)?+#+-#3*)8()'+'p#3-.-#)8"'.=#B)+$0)8.-#-#
b# U")#6+/F")#*(#&"#-+%&,(&#-"."#",'(#-+!,+'(#D(!#0&5#c%)_)#%'(#6+/F"#A&"d?@#e+'(&,%#
.W8#/0%#0+#.)"%+)-#%*'+#%"#-(*-#)+(%*+-#$%#"'#R0*-2'#3*)8()'+'=#,*%+(%#'"#-(*-#%FY
(%*+-=#"-8#.080".'+%8C#4%#-83)"'&'#%+(*%#%F20"8'*"%8=#8%5*%5'*"%8#-#'8).)"'*"%8C#R"#
2*-5*'.'#+'a)#$%#%").)+'*#")(%*'".%+(%#'#"-8##X0$H-8=#%+#1%a#$%#8).2"%.%+(%#&-('*"%8#
$%"#(%**)(-*)-=#%*'#('+#%82'+(-8-#/0%#B'#-&")5'$-#'#)+1%*()*#%"#*%3B'a-#6#'80.)*#'#
"-8#X0$H-8#3-.-#2'*()3)2'+(%8#%8%+3)'"%8#$%#"'#L)1)")a'3)?+#`33)$%+('"C#R"#R8('$-#$%#
c8*'%"#20%$%#8%*#1)8(-#3-.-#0+'#(*'83%+$%+3)'#$%#"'#-23)?+#$%#8%5*%5'3)?+#i%+#1%a#
$%#$%8)5+'*"%8#0+#50%(-#90+#&'**)-#'2'*(%#2'*'#X0$H-8#$%+(*-#$%#"'#3)0$'$<#'B-*'#8%#
"%8#$'#(-$-#0+#2'H8#$-+$%#8-+#8-&%*'+-8i#/0%#'#"'#1%a#).2-+%#"'#'8).)"'3)?+#'#"'8#6#
!")#6+/F")#2+%#"3,(&#3('(#&"#1'#(#Y)'(%!#)1&"#2+%/(')%#%&,'%#!")#$%&,1!%)5#*(#2+%#(!#0&#
8%#B'#*%3-+-3)$-#/0%#X0$')8.-#6#3*)8()'+)8.-#8-+#0+-#8-"-C#[0%8#+-#%8#8?"-#$%&)$-#
'"#lobby#X0$H-#%+#"-8#RRCUUC#/0%#%8%#5-&)%*+-#8)50%#$'+$-#'8)8(%+3)'#.'8)1'#'#c8*'%"=#
3-.-#8)#8)+#%8'#2*%8)?+#"-#'&'+$-+$'*H'#'#80#80%*(%J#c8*'%"#%8#%"#e"().-#&'8()?+#6#'#
!(#4%L#!(#(4(&L(/(#/%#!(#\141!1L(-1G&#f--1/%&,(!#%&#,1%''()#/%#1&0%!%)5#H'%&,%#(#!")#
)8"W.)3-8#3'$'#1%a#.W8#.'"1'$-8#9c*'+=#Z'")&'+%8=#!"#o')$'<J#%F'3('.%+(%#3-.-#
"-# %*'# %"# *%)+-# $%# "-8# 3*0a'$-8# %+# "'8# .)8.'8# ()%**'8# %+# %"# .%$)-%1-=# 2%*-# 3-+#
.'6-*#"%5)().)$'$#2-*/0%#"-#B'+#*%302%*'$-#"-8#/0%#%*'+#808#$0%S-8#ms#'+(%8C#
R+(-+3%8#8%#B'3%#"'#1)8('#5-*$'#$%#"'8#'*.'8#'(?.)3'8#/0%#c8*'%"#2-8%%#,0%*'#$%#
(-$'#"%5'")$'$#)+(%*+'3)-+'"#6#8)+#'$.)()*"-#2e&")3'.%+(%=#.)%+(*'8#8%#'3-8'#'#c*'+#
2-*#80#2*-5*'.'#+03"%'*#/0%#'e+#+-#B'#$'$-#"05'*#'#'*.'8#+03"%'*%8=#'3-8-#/0%#
2-8)&"%.%+(%#3-+$03)*W#'#-(*'#50%**'#).2%*)'")8('#.W8#%+#%"#V%$)-#`*)%+(%=#3-.-#
)1#!()#/%#Y'(g#*#KH$(&1),C&#&"#H+%'(&#3'+%7()#)+0-1%&,%)#/%#!"#%''G&%"#/%#!(#"3-1G&#

200

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

&0$)8.-C#V)%+(*'8#%+#G-")1)'=#8%#8)50%#1)%+$-#'"#W*%'#*0*'"#$%"#.)8.-#
$%2'*('.%+(-#$%#7'#['a#3-.-#(%**)(-*)-#$%#-(*'#30"(0*'#%+#3-.2'*'3)?+#
3-+#"'8#3)0$'$%8#$%"#.)8.-#$%2'*('.%+(-=#8)+#B'&"'*#$%"#*%8(-#$%"#2'H8C
#
!#.)#2'*%3%*=#A8('#%8#0+'#1)8)?+#0*&'+'=#6'#/0%#2'*'#"'8#6#"-8#B'&)('+(%8#
0*&'+-8#93)('$)+-8=#.W8#/0%#(-$-<#%"#W*%'#*0*'"#%8#'"5-#/0%#8%#1%#$%8$%#
!(#4%&,(&(#/%#+&(#R",(#1&,%'/%3(',(.%&,(!#-+(&/"#41(6(&#(#",'(#-1+/(/@#
4)# &'X'+# '# ()%**'# %+# %"# %82'3)-# *0*'"=# %8# 2'*'# 2'8'*# 0+# ,%*)'$-# %+# 0+#
B-(%"#/0%#*%2*%8%+('#0+#%+3"'1%#0*&'+-#%+#%"#3'.2-J#3-.-#.WF).-#
3()(&#+&")#/F()#%&#+&(#0%),(#3(,'"&(!#"#()1),%&#7'%4%.%&,%#(#(!$+&(#
3-+3%+(*'3)?+# 2-"H()3'C# 7-8# .W8# '1%+(0*%*-8# B'3%+# %r!33'(/# -# 1)8)('+#
0+# 8)()-# '*/0%-"?5)3-# '"%X'$-CD-# 2'*()3)2'+# %+# *%"'3)-+%8# 8-3)'"%8#
3-()$)'+'8# %+# %"# 3'.2-# 98)# 2'*()3)2'+# 8)/0)%*'# %+# 1%a# $%# ").)('*8%#
'# )+(%*'3(0'*# 3-+# 808# 3-.2'S%*-8# $%# 1)'X%<C# R+# 3-+(*'8(%=# "'8# 6# "-8#
9(71,(&,%)#'+'(!%)#41(6(&#-"&#H'%-+%&-1(#(#!")#-%&,'")#+'7(&")5#-"&#0&%)#
2*W3()3-8#3-.-#1%+$%*#808#2*-$03(-8=#3-.2*'*#-(*-8#2*-$03(-8#3-+#%"#
$)+%*-#'8H#-&(%+)$-=#*%'")a'*#(*W.)(%8#$%#(-$-#()2-=#3-+8%50)*#'(%+3)?+#
.E/1-(5#*#/%#3()"#%&,'%,%&%')%#.1'(&/"#+&(#0%),(#"#/%)0!%5#(/%.C)#
$%# 1)8)('*# ,'.)")'*%8# 6# 3-+-3)$-8C# R8# $%3)*=# 2'*()3)2'+# %+# *%"'3)-+%8#
8-3)'"%8#3-()$)'+'8#)+3"08-#%+#"'8#1)8)('8#.W8#3-*('8C#7'#3)0$'$#+-#"%8#
%8#0+#%82'3)-Y30"(0*'#'X%+-=#.W8#&)%+#8-+#"'8#6#"-8#3)('$)+'8#/0%#1%+#
'# %""-8# 6# %""'8# 3-.-# '"5-# 'X%+-# '"# %82'3)-Y30"(0*'# 0*&'+-J# )5+-*'&"%#
)+3"08-#30'+$-#%8(W+#$%#2'8-=#2%*-#30'+$-#$%3)$%+#/0%$'*8%#2-*/0%#
B'+# 3-+8%50)$-=# -# )+(%+('+# 3-+8%50)*=# 0+# (*'&'X-# 0*&'+-=# 6'# +-# 8%#
2)%*$%+#$%#1)8('#6#8%#3-+1)%*(%+#%+#>.)5*'+(%8@C
#
R8(-# )+(*-$03%# -(*-8# 3*)(%*)-8# *%,%*%+(%# '# "'# ,0%+(%# $%# "-8# )+5*%8-8#
%3-+?.)3-8C#7'8#6#"-8#(0*)8('8#3*0a'+#,*-+(%*'8#6#B'6#.-3B)"%*-8#/0%#
1)'X'+#$0*'+(%#0+#'S-#-#.W8=#2%*-#"-#B'3%+#%+#&'8%#'#808#'B-**-8C#D-#
5%+%*'+#)+5*%8-8#%+#808#"05'*%8#$%#$%8()+-C#[%*-#^$?+$%#3'&%+#"'8#6#
"-8#3-.%*3)'+(%8#)()+%*'+(%8_#Z-.'*A#%"#3'8-#$%#"'8#6#"-8#$%#o0).%#%+#
"'#2*-1)+3)'#c+/0)8)1)=#/0%#.'+%X'+#0+#3)*30H(-#$%#,%*)'8C#R"#$H'#.'*(%8#
8'"%+#$%#808#3'8'8#B'3)'#%"#1'""%J#%"#.)A*3-"%8=#B'3%+#,%*)'#%+#E'q02'.2'=#
.1!1,('@#N+'"3(#0&(!.%&,%#(3'%&/1G5#/%)3+E)#/%#"'1$1&('#*#3(/%-%'#/")#$+%''()#
.0+$)'"%8=#/0%#"'8#'*.'8#+-#%*'+#"'#8-"03)?+=#2%*-#,'"('#%F(%+$%*#%8('#"%33)?+#'"#
*%8(-#$%"#.0+$-C

!"#$%&%'()$*"%&+,&-.

201

m*0()""'+)#-#V)+'8=#6#8'"%+#%+#"'#('*$%C#R"#X0%1%8=#B'3%+#,%*)'#%+#%"#20%&"-#
$%# c+/0)8)1)=# %"# 1)%*+%8# %+# 40*)=# %"# 8W&'$-# %+# L'X0'('# -# 7)3-.'=# %"#
$-.)+5-#%+#L)*30'('=#6#2-*#"'#('*$%#10%"1%+#'#o0).%#2'*'#$%83'+8'*#%"#
"0+%8#6#%"#.'*(%8#)+)3)'*#%"#1)'X%#$%#+0%1-C#!$%.W8=#*%'")a'+#1)'X%8#.W8#
)+(%*.)(%+(%8#2'*'#'&'8(%3%*8%#$%#*-2'=#3'3B)1'3B%8=#'&'**-(%8#6#$%.W8#
.%*3'+3)'8#%+#"'8#,%*)'8#.'8)1'8#$%#"'#3)0$'$#$%#`*0*-C#d%+%*'+#3'8)#
(-$-8#808#)+5*%8-8#%+#"05'*%8#$)8()+(-8#'"#$-+$%#+-.)+'".%+(%#*%8)$%+C#
^4-+# .)5*'+(%8_# !"50+'# 1%a=# 4)"1)'# l)1%*'# 805)*)?# /0%# ('"%8# 3'8-8#
8%*H'+#>.)5*'+(%8#2%+$0"'*%8@#2-*#"'#*%50"'*)$'$#$%#808#(*'8"'$-8#%+#%"#
%)3(-1"5#3%'"#-'%"#2+%#%)#.C)#(-%',(/"#-!()10-('!")#-"."#-".%'-1(&,%)#
)()+%*'+(%8#2-*/0%#.'+()%+%+#80#&'8%#6#B-5'*#%+#o0).%#6#%8#'""H#$-+$%#
-"&-%&,'(&#!(#(-+.+!(-1G&#2+%#!"$'(&#*#)+#1/%&,10-(-1G&#)"-1(!5#2+%#
"%8#2*-2-*3)-+'#0+'#8-")$'*)$'$#/0%#).2)$%#/0%#3-.%*3)'+(%8#$%#-(*-#
-*)5%+#8%#)+8%*(%+#%+#%8(%#3)*30H(-#$%#,%*)'8=#'#(*'1A8#$%"#30'"#8%#'2*-2)'+#
$%# &0%+'# 2'*(%# $%"# 9+-# .06# '&0+$'+(%<# %F3%$%+(%# 2*-1)+3)'"C# 408#
)+5*%8-8#8%#5%+%*'+#',0%*'=#2%*-#808#)+1%*8)-+%8#8%#3-+3%+(*'+#%+#%"#
"05'*#$%#-*)5%+C#
#
4%5e+#%8('#)+(%*2*%('3)?+=#"'8#6#"-8#B'&)('+(%8#$%#!*&)%(-#%+#%"#K'""%#
!"(-# $%# L-3B'&'.&'=# /0)%+%8# 2'8'+# 'S-8# (*'&'X'+$-# %+# %"# %F(%*)-*#
2'*'#3-.2*'*#(%**%+-8#6#3-+8(*0)*#3'8'8#%+#80#20%&"-#9Q%#"'#Z-**%#MIIN=#
MIIp=#L-*(A8#MIIN<#()#8%*H'+#>.)5*'+(%8@=#%+#('+(-#/0%#+-#)+1)%*(%+#%+#
1)1)%+$'8#-#+%5-3)-8#2%*.'+%+(%8#%+#!*")+5(-+=#K)*5)+)'=#-#$-+$%#8%'#
/0%#>.)5*'+@C#4)+#%.&'*5-=#"-8#%8(0$)-8#3)('$-8#"-8#(-.'+#3-.-#('"%8=#
X0+(-#3-+#-(*-8#3-3B'&'.&)+-8#/0)%+%8#6'#()%+%+#3'8'8#%+#m"-*)$'#9RRC
UUC<#6#1)1%+#'""H#3-+#808#B)X-8=#%8('$-0+)$%+8%8#2-*#+'3).)%+(-#/0%#
B'&"'+#.W8#)+5"A8#/0%#3'8(%""'+-#96#+'$'#$%#/0%3B0'=#2-*#8020%8(-<C#
[%*-#.%#").)('*A#'B-*'#'#%8-8#9)&)$<#/0%#+-#B'+#*%'")a'$-#)+1%*8)-+%8#
2%*.'+%+(%8# %+# "-8# RRCUUC# 8)+-# 8?"-# %+# G-")1)'C# V)%+(*'8# "'8# 6# "-8#
/0).%S-8#80%"%+#1-"1%*#'#3'8'#8%.'+'".%+(%#-#('"#1%a#3-+#.W8#,*%30%+3)'#
96'#/0%#%"#1)'X%#B'8('#808#"05'*%8#$%#$%8()+-#$-+$%#"'8#,%*)'8#+-#$0*'#
.W8#/0%#3)+3-#-#8%)8#B-*'8#%+#%"#.'6-*#$%#"-8#3'8-8<=#%8(-8#>'.%*)3'+-8@#
$%# L-3B'&'.&'# 10%"1%+# '2%+'8# 0+'# 1%a# '"# 'S-# 92-*# L'*+'1'"=# -# "'#
0%),(#3(,'"&(!#h?##B+#3'1.%'(#)(!1/(#(#!")#NN@``@#D)+3"&1%&/"#2+%#
"-5*'+#%+(*'*<#80%"%#$0*'*#1'*)-8#'S-8=#B'8('#*%50"'*)a'*#80#8)(0'3)?+#$%#
.'+%*'#/0%#2-$*H'+#1-"1%*#'#%+(*'*#$%820A8#$%#B'&%*#1)'X'$-#'#G-")1)'C#

202

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

!#"'#1%a=#2'*'#2%*.'+%3%*#'""W#+%3%8)('+#$)82-+%*#'"#.%+-8#$%#'"5e+#
30'*(-#%+#'"/0)"%*#-#8)+-#2*%8('$-#2-*#2'*(%#$%#,'.)")'*%8#-#2')8'+-8=#
%8#$%3)*=#(%+%*#0+'#1)1)%+$'#9-#'"-X'.)%+(-<#%8('&"%=#'#$),%*%+3)'#$%#"'8#
6#"-8#)()+%*'+(%8#/0).%S-8#/0%#$0%*.%+#%+#"'8#3'*2'8#'*.'$'8#3-.-#
20%8(-8#$%#1%+('#-#$%&'X-#$%#808#3'.)-+%8C#Q%#'BH#80*5%+#$-8#3*)(%*)-8#
*%"'3)-+'$-8O
NC## R8#Vcdl!LcnD#30'+$-#"'#2%*8-+'#5%+%*'#)+5*%8-8#%3-+?.)3-8#-#
$%#(-$-8#.-$-8#-&()%+%#808(%+(-#98%'#'#(*'1A8#$%#(*'&'X-#$-.A8()3-#
-#$%#-(*-#()2-#+-#*%.0+%*'$-#2'*'#,'.)")'*%8#-#3-+-3)$-8<#%+#%"#-#
!")#!+$('%)#/%#/%),1&"@#N),"#%)#-'1,%'1"#&%-%)('1"#3%'"#&"#)+0-1%&,%@
kC## R8#Vcdl!LcnD#30'+$-#8%#()%+%#0+#'"-X'.)%+(-#-#1)1)%+$'#*%50"'*#
%+#%"#"05'*#$%#$%8()+-J#8)#8%#3'*%3%#$%#('"#6#8%#(*'8"'$'#3-+8('+(%.%+(%#
%+(*%#B-(%"%8=#3'.2'.%+(-8=#$0*.)%+$-#%+#80#.-1)")$'$=#%(3C=#%8#
(0*)8.-=#3-.%*3)-#)()+%*'+(%=#-#+-.'$)8.-C
#
R+(-+3%8#^/0A#2'8'#3-+#"-8#6#"'8#%8(0$)'+(%8#/0%#*%8)$%+#,0%*'#$%#808#
B-5'*%8# '# 3'08'# $%# 808# %8(0$)-8_# d0'650'# %(# '"C# 9MI:I<# .%(%+# %+# "'#
.)8.'#&-"8'#$%#>.)5*'+(%8@#'#2'3%S-8#6#'"(%S-8#/0%#1)'X'+#'#*%'")a'*#
%8(0$)-8#$%#2-85*'$-#%+#R82'S'=#'#(*'&'X'*#%+#"'#3-8(0*'#%+#G*'8)"#6#'#
30)$'*#'+3)'+-8#-#").2)'*#3'8'8#%+#R82'S'C#R+,-3'+$-#"'#>.)5*'3)?+#
2-*#.-()1-8#$%#%8(0$)-@=#+%3%8'*)'.%+(%#30.2"%#3-+#%"#3*)(%*)-#k#6#8)#%8#
)+(%*+'3)-+'"=#3-+#%"#3*)(%*)-#:C#R+#*%"'3)?+#'"#3*)(%*)-#N=#B'6#%8(0$)'+(%8#
/0%#2'5'+#(-$-#3-+#*%30*8-8#2*-2)-8#'B-**'$-8#$%#80#(*'&'X-#6#-(*-8#
2+%#)"&#0&(&-1(/")#<;;i#3"'#)+)#3(/'%)#"#3"'#+&(#7%-(M#%&#%!#-()"#/%#
0+)1%*8)('*)-8#6#0+)1%*8)('*)'8#$%#(-$-#%"#.0+$-=#3*%-#/0%#"-#.W8#3-.e+#
%8#/0%#()%+%+#0+'#&%3'#6j-#*%.%8'8#2'(%*+'"%8#6#'$%.W8#5%+%*'+#'"5-#
$%#)+5*%8-8#%+#%.2"%-8#3'80'"%8#-#$%#()%.2-#2'*3)'"C#R+#"'#0+)1%*8)$'$#
&-")1)'+'#2'*%3%+#3*%%*#/0%#8-+#"-8#e+)3-8#%+#%"#.0+$-#/0%#%8(0$)'+#6#
(*'&'X'+#'#"'#1%a=#"-#/0%#+-#%8#3)%*(-=#'0+/0%#%+#-(*-8#2'H8%8#5%+%*'".%+(%#
+-#8-+#('+#'.&)3)-8-8#3-.-#2'*'#2*-2-+%*#(*'&'X'*#'#()%.2-#3-.2"%(-=#
.'+(%+%*#'#0+'#,'.)")'#6#'$%.W8#30.2")*#3-+#%8(0$)-8#0+)1%*8)('*)-8#'#
"'#1%aC#R+#*%80.%+=#"'#.'6-*H'#$%#"-8#3'8-8#$%#>.)5*'3)?+#2-*#%8(0$)-@#
+-#30.2"%+#2"%+'.%+(%#3-+#%"#3*)(%*)-#NC#
#

!"#$%&%'()$*"%&+,&-.

203

B1#-"&)1/%'(.")#%!#()3%-,"#3"!F,1-"5#)+%!%&#%81),1'#+&#,13"#%)3%-F0-"#/%#
1)8'#2'*'#%8(0$)'+(%8#%F(*'+X%*-8J#+-#%8#"'#1)8'#/0%#$'#2%*.)8-#"%5'"#$%#
(*'&'X'*=#2%*-#+-#8%#B'3%#.03B-#2*-&"%.'#8)#3-+(*'1)%+%+#%8('#*%5"'#
2-*/0%# %"# ()2-# $%# %.2"%-8# /0%# 3-+8)50%+# "'8# 6# "-8# %8(0$)'+(%8# b# $%#
"'1'2"'(-8=# .%8%*'8=# 3'+50*-8=# B'8('# (*'&'X'$-*%8# %8('3)-+'"%8# %+# "'#
'5*)30"(0*'# b# 8-+# "-8# .)8.-8# %.2"%-8# 3'80'"%8# 6# .'"# 2'5'$-8# /0%#
"-8# >.)5*'+(%8# )+$-30.%+('$-8@# ()%+%+C# R8('# ,0%*a'# "'&-*'"# /0%# +-#
'%-17%#7%&%0-1")#)"-1(!%)#*#&"#3+%/%#2+%6(')%#/%#6"'&(/()#/%.()1(/"#
2*-"-+5'$'8# -# $%82)$-8# )+(%.2%8()1-8# %8# '"('.%+(%# ,0+3)-+'"# '# "'8#
%3-+-.H'8#$%8'**-""'$'8C#4)#+-#B0&)%*'#0+'#$%.'+$'#)+8'()8,%3B'#$%#
,'(7(6(/"'%)#%&#%),")#)%-,"'%)#,(.3"-"#9+71%'(#+&#R+6"#/%#I.1$'(&,%)#
%3-+?.)3-8@#$)820%8(-8#'#""%+'*#%8-8#20%8(-8C#R8(-#%8#"-#3-+(*'$)3(-*)-#
%+# "-8# )+(%+(-8# $%# ).2%$)*# "'# %+(*'$'# $%# ('"%8# .)5*'+(%8=# 6'# /0%# "-8#
%.3!%(/"'%)#3'%0%'%&#(#%!!")#3"'#!()#'(L"&%)#-1,(/()#*#!")#&(-1"&(!%)#
$%"#2'H8#('.2-3-#/0)%*%+#%8-8#%.2"%-8C#`(*-#.-()1-#2-*#+-#-&X%('*#%"#
(*'&'X-#-3'8)-+'"#$%#%8(0$)'+(%8#%8#/0%#808#1)8'8#30&*%+#8?"-#80#2%*)-$-#
$%# %8(0$)-8# 6# 0+'# 1%a# (%*.)+'$-# 8%# 802-+%# /0%# '0(-.W()3'.%+(%#
1-"1%*W+#'#808#2'H8%8#$%#-*)5%+=#-#8)#8%#B'+#$%#/0%$'*#%+#%"#2'H8#$%#
$%8()+-#8%*W#2-*/0%#B'+#8)$-#'3%2('$-8#%+#0+#%.2"%-#,-*.'"=#$-+$%#
3($('C&#1.3+%),")#(#!(#4%L#2+%#'%-171'C&#7%&%0-1")#)"-1(!%)#"#)1&"#)%#
B'+#3'8'$-#3-+#0+'#2%*8-+'#$%"#"05'*O#'.&-8#3'8-8#/0%#)+$)3'+=#'$%.W8=#
/0%# 6'# 8%# B'&*H'+# )+(%5*'$-# '"# W.&)(-# 8-3)-30"(0*'"# $%# *%3%23)?+=# '#
$),%*%+3)'#$%#"-8#)+$-30.%+('$-8#/0%#80%"%+#B'&)('*#0+'#%82%3)%#$%#
50%(-#8%.)3"'+$%8()+-#3-.20%8(-#2-*#3-.2'(*)-('8=#-#'"#.%+-8#"-8#/0%#
B'&"'+#80#.)8.-#)$)-.'=#3-.-#-30**%#2-*#%X%.2"-#%+(*%#5%+(%#$%#(-$'#
40$'.A*)3'#%+#%"#+-*(%#$%#R0*-2'C#R+(-+3%8#9%F<%8(0$)'+(%8#('.2-3-#
30.2"%+#3-+#%"#3*)(%*)-#]C#
#
Q%#B%3B-=#3*%-#/0%#%8(-#%F2")3'#2-*/0A#%8(0$)'+(%8#D`#8-+#3-+8)$%Y
*'$-8#>.)5*'+(%8@#%+#R0*-2'=#'#"'#1%a#/0%#8%#$'#2-*#8020%8(-#/0%#8%#
$%&%# &083'*# 0+'# 0+)1%*8)$'$# "%X-8# $%"# B-5'*# +'('"=# 2-*/0%# 8'")*# $%"#
8%+-#2'(%*+'"#%8#+%3%8'*)-#2'*'#'$/0)*)*#"'#.'$0*%a#/0%#%8#2'*(%#$%#
2*-3%8-#$%#2*-,%8)-+'")a'3)?+C#[%*-#'0+/0%#8%#$%X'#'#.'.W#6#2'2W=#+-#
8%#$%X'#%"#W.&)(-#30"(0*'"#6#2-*#('+(-#+-#8%#B'#>.)5*'$-@C#D)#8)/0)%*'#
8%#B'#>.)5*'$-@#8)#8%#-2('#2'*'#0+'#0+)1%*8)$'$#%+#-(*-#2'H8=#2-*/0%#
8%#802-+%#/0%#B'6#0+'#3-.0+)$'$#)+(%"%3(0'"#802*'+'3)-+'"#/0%#0+%#

204

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

'#(-$-8#"-8#3%+(*-8#$%#%8(0$)-8#802%*)-*%8#96#'$%.W8=#8?"-#8%#-2('*W#
2'*'#0+'#0+)1%*8)$'$##%F(*'+X%*'#8)#8%#$-.)+'#%"#)$)-.'#%+#/0%#8%#%+Y
8%S'#'""H=#'8H#/0%#$%#+0%1-#8%5e+#%"#3*)(%*)-#]#D`#%8#>.)5*'3)?+@<C#R8(-#
3-+(*'8('#3-+#"'#+-*.'#&-")1)'+'=#$-+$%#%8#%F3%23)-+'"#2-8(0"'*#'#0+'#
0+)1%*8)$'$#/0%#+-#8%'#3%*3'+'#'"#B-5'*C#Q%#B%3B-=#2'*%3%#/0%#'/0H#
8%#2)%+8'#/0%#"-#)$%'"#%8#B'3%*#%"#3)3"-#&W8)3-=#8%30+$'*)-=#(%*3)'*)-#6#8)#
%8#2-8)&"%#%"#2-85*'$-#8)+#'2'*('*8%#$%#.'.W#6#2'2WC#4)#()%+%8#80%*(%#
fB'8('#20%$%8#3'8'*(%#.)%+(*'8#%8(0$)'8#6#(*'%*#'#(0#3?+605%#6#"0%5-#
(0#B)X)(-#2'*'#/0%#(-$-8#1)1'+#3-+#(0#.'.W#6#2'2W#('.&)A+g#[0%8#8?"-#
"'8#6#"-8#$%8',-*(0+'$'8#/0%#+-#$)82-+%+#$%#3%+(*-8#%$03'()1-8#$%"#
+)1%"#3-**%82-+$)%+(%#'"#'"3'+3%#$%#0+#1)'X%#$)'*)-#$%8$%#%"#B-5'*#8%#
1%+#-&")5'$-8#'#)*#'#1)1)*#'2'*(%#2'*'#2-$%*#%8(0$)'*CR"#B%3B-#$%#/0%#
A8(-8#8%'+#3-+8)$%*'$-8#%+#"'#d)"$#"-3'"#3-.-#>.)5*'+(%8@#$%1%"'#-(*-#
3*)(%*)-#).2"H3)(-O
TC## R8#Vcdl!LcnD#30'+$-#%"#(*'8"'$-#%8#'"5-#,0%*'#$%#"-#$%8%'&"%#-#
%82%*'&"%#%+#%"#3-+(%F(-#8-3)'"#$%#-*)5%+C
#
R8(-#(%+$*W#/0%#1%*#3-+#/0%#"'8#6#"-8#&*)(W+)3-8#+-#3-+8)$%*'+#'#2%*8-+'8#
3-.-#6-#3-.-#>.)5*'+(%8@=#6'#/0%#$%8$%#B'3%#8)5"-8#B'#8)$-#B'&)(0'"#
)*#6#1%+)*#%+(*%#%"#>2'H8#B-5'*@#94)2!+).(%r-<#6#"'8#3-"-+)'8C#!"50+'8#
(%*.)+'&'+# 2-*# /0%$'*8%# 9%+#!08(*'")'=# D0%1'# r%"'+$'=# 40$',*)3'=#
('.&)A+#%+#s%+)'#6#"-#/0%#'B-*'#%8#r).&'&t%#u<#.)%+(*'8#%+#%"#3'8-#$%#
"'#c+$)'#%*'#.W8#3-.e+#1-"1%*#'#c+5"'(%**'#$%820A8#$%#X0&)"'*8%C#L"'*-#
/0%#"'##3"'8%#'"('#)&'#1-"0+('*)'.%+(%#.)%+(*'8#"'#3"'8%#&'X'#'#1%3%8#)&'#
-&")5'$'=#8%'#$%8()+'$-8#3-.-#(*-2'#-#(*'+82-*('$-8#3-.-#3*).)+'"%8#
9'#!08(*'")'<#2%*-#%+#(-$-#3'8-#%*'#3-8'#B'&)(0'"=#$%#"'#.)8.'#.'+%*'#
/0%#%*'#B'&)(0'"#2'*'#"'#&0*50%8H'#.'+$'*#'#808#B)X-8#%#B)X'8#'#%8(0$)'*#
%+# )+(%*+'$-8# "%X-8# $%# 3'8'C# L-.-# 80%"%# 8%*# %"# 3'8-=# "'# 2%*82%3()1'#
5"-&'"#%8#"'#$%#"'#3"'8%#'"('#/0%#2*%8%+('#(-$-#%8(-#3-.-#'"5-#")&*%.%+(%#
'80.)$-C#4%#3-+(*'8('#3-+#"'#2%*82%3()1'#&-")1)'+'=#/0%#'80.%#('+(-#"'#
>.)5*'3)?+@#2-*#%8(0$)-#3-.-#"'##>.)5*'3)?+@#%+#&083'#$%#(*'&'X-#3-.-#
'"5-#).20%8(-#6#"'.%+('&"%C#!8H=#2'*'#V'*H'#d'")+$-#"'8#6#"-8#/0%#1'+#
'#3-8(0*'*#%+#G*'8)"#8-+#>%F)")'$-8#$%"#+%-")&%*'")8.-@=#6#B%#%8303B'$-#
%+#1'*)-8#8%.)+'*)-8#"'8#/0%X'8#$%#3?.-#>%8('.-8#)60'/$d)7#'#8'")*#$%"#
2'H8@=#>%8#/0%#+-#B'6#(*'&'X-=#%!(!2)7/0%#)*@C#40&6'3%#%+#"'#d)"$O

!"#$%&%'()$*"%&+,&-.

205

pC## 7'#Vcdl!LcnD#%8#8)%.2*%#,-*a'$'C#D'$)%#+0+3'#$%X'*H'#80#B-5'*#
9^6#80#,'.)")'_<#8)#"-#2-$*H'#%1)('*C
!0+/0%#B'6#0+'#%+-*.%#1%+'#$%#3'+3)-+%8#2-20"'*%8#'+$)+'8#8-&*%#
%"#(%.'#$%#"'#2'*()$'#3-.-#'"5-#$-"-*-8'#6#3'*5'$'#$%#+-8('"5)'#2-*#%"#
B-5'*#/0%#8%#$%X'#'(*W8=#"'#2-8(0*'#/0%X0.&*-8'#$%#"'8#6#"-8#)+(%"%3(0'"%8#
20%$%#*%"'3)-+'*8%#3-+#/0%=#8-&*%#(-$-#%+(*%#:;p:#6#:;PM=#.03B-8#$%#
%""-8#6#%""'8#8%#1)%*-+#)60'/$d)7#'#$%X'*#%"#2'H8#2-*#"'#8)(0'3)?+#2-"H()3'=#
$%#.'+%*'#8-*2*%8)1'=#,-*a-8'#6#/0%#+-#%8('&'#%+#808#2"'+%8C#D-#80%"%+#
B'&"'*#8-&*%#808#%F2%*)%+3)'8#%+#%"#%F(%*)-*=#8)#(01)%*-+#/0%#.'+(%+%*8%#
,*%5'+$-#2"'(-8#-#8)#1)1H'+#$%#"'#8-")$'*)$'$#$%#"-8#)"08-8#$%#"'#)a/0)%*$'#
)+(%*+'3)-+'")8('#/0%#"%8#3*%H'+#*%1-"03)-+'*)-8=#"%8#,'3)")('&'+#2%*.)8-8#
$%# *%8)$%+3)'# 3-.-# *%,05)'$-8# 2-"H()3-8# 9>&083'$-*# $%# '8)"-@# +-# %*'#
.'"'#2'"'&*'#%+#%8%#%+(-+3%8<#6#"%8#'60$'*-+#'#)+(%5*'*8%#%+#3H*30"-8#
*'$)3'"%8# 6# '3'$A.)3-8# '+(%8# $%# (%+%*# /0%# '3%2('*# %.2"%-8# 8%*1)"%8C#
!"50+'#)+3"08-#"-5*?#)*8%#'"#%F)")-#'3-.2'S'$'#2-*#80#%.2"%'$'#3B-")('=#
/0%#$'#0+'#)$%'#$%"#%8(*'(-#8-3)'"#$%"#/0%#2*-3%$H'C#!2'*(%#$%#1)1)*#
3-+#8%*1)$%.&*%#$%8$%#80#+'3).)%+(-=#"-8#)+(%5*'+(%8#$%#%8(%#%8(*'(-#
%+#G-")1)'#80%"%+#$)82-+%*#$%#0+#3'2)('"#8-3)'"#/0%#"%8#,'3)")('#%.2"%-8#
$%#+)1%"#8-3)'"#6#8'"'*)'"#'$%30'$-#6#.03B'8#1%3%8#3-+#0+#.H+).-#$%#
%81$%&-1(##1&-!+)"#%&#,E'.1&")#/%#-+.3!1.1%&,"#/%#9"'('1")#*#%0-(-1(##
"'&-*'"C#!0+/0%#808#8).2'()a'+(%8#%+#%"#%F(%*)-*#B'&*H'+#3-+8%50)$-#
20%8(-8#$%#'60$'+(%#'3'$A.)3-=#)+(%5*'+(%#$%#'"5e+#3-"%3()1-#%$)(-*)'"=#
(*'$03(-*'8#-#/0A#8A#6-=#&)%+#20%$%#8%*#/0%#%*'#.W8#%8(*)3(-#6#B0&)%*'+#
8)$-#(*'('$-8#3-.-#30'"/0)%*#-(*-#(*'&'X'$-*#2-*/0%#+'$)%#"%8#3-+-3H'C#
7'8#3"'8%8#&'X'8=#.)%+(*'8#('+(-=#$'+#2-*#8020%8(-#/0%#+'$)%#"%8#3-+-3%#
6#8%#"%8#)5+-*'#6#*%3B'a'#B'&)(0'".%+(%=#6#('.2-3-#%+30%+(*'+#0+'#,'"('#
$%#3-)+3)$%+3)'#%+(*%#"'#1)$'#/0%#/0)8)%*'+#-#%82%*'&'+#6#"'#1)$'#/0%#
'3(0'".%+(%#()%+%+=#2-*/0%#+-#80%"%+#$%$)3'*8%#'#3-+8(*0)*#3'8()""-8#%+#
%"#')*%#*%82%3(-#'#80#,0(0*-#AF)(-#2*-,%8)-+'"#6j-#2-"H()3-C
#
R+#"'#5%+%*'3)?+#'+(%*)-*#'#"'8#6#"-8#%F)")'$-8#$%"#G'+a%*'(-=#B0&-#-(*-#
R+6"#/%#I.1$'(-1G&J#2+%5#)%$_&#)E5#9(#)1/"#1$&"'(/"#3"'#!(#(-(/%.1(O#!()#
6#"-8#%F#2'(*-+%8#$%82"'a'$'8#2-*#"'#l%,-*.'#!5*'*)'#b#2-*#%X%.2"-=#"-8#
4W+3B%a#$%#7-a'$'C#[-8)&"%.%+(%=#$%&)$-#'#/0%#""%5'*-+#'#"-8#RRCUUC#
$0*'+(%#%"#"'*5-#'05%#$%#2-850%**'=#"%8#,0%#&)%+#%+#"'#.'6-*H'#$%#"-8#

20)

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

3'8-8=#6#'#/0)%+%8#"%8#,0%#.'"#B'&*H'+#-"1)$'$-#$%#G-")1)'#6#G-")1)'#$%#
%""-8=#6'#/0%#%+#"-8#'S-8#:;kI#"-8#1)'X%8#)+(%*+'3)-+'"%8#'e+#%*'+#0+#
"0X-#/0%#2-3-8#2-$H'+#3-8(%'*8%#$%#.'+%*'#,*%30%+(%C#7-8#/0%#8%#B'+#
.'+(%+)$-#%+#3-+('3(-#3-+#80#2'H8#6#20%&"-8#$%#-*)5%+#"-#B'+#B%3B-#
3-.-#2%*8-+'"#$%#'5%+3)'8#)+(%*+'3)-+'"%8=#%.2*%8'*)-8#6#2-"H()3-8=#6#%+#
%"#2%-*#$%#"-8#3'8-8#3-.-#)+(%5*'+(%8#$%#3-.2'*8'8#,'8(0-8'8#/0%#B'3%+#
3'%)%&-1(#%&#!(#0%),(#3(,'"&(!#/%#!"#2+%#%'(#)+#3+%7!"#"#'%(!1L(&#(!$_&#
(-,"#/%#7%&%0-1%&-1(#(!!F#%&#7()%#(#/"&(-1"&%)#2+%#)"&#)1$&10-(,14()#
'/0H# 2%*-# +-# *%2*%8%+('+# 0+'# %"%1'$'# 3'2'3)$'$# %3-+?.)3'# '""WC#!#
$),%*%+3)'# $%# "'# 5%+%*'3)?+# $%# "-8# :;pI8=# +-# 8%# B'+# )+8%*('$-# %+# "'#
'3'$%.)'=# 2%*-# 3*%-# /0%# %"# B%3B-# $%# /0%# ,0%*-+# -&")5'$-8# '# $%X'*#
)+)#0&-()#9(*(#-"&,'17+1/"#(#!(#d)"$#$%#/0%#>.)5*'*@=#.W8#/0%#(-$-#8)#
%8#,0%*'#$%"#2'H8=#%8#'"5-#/0%#8%#B'3%#2-*#$%85*'3)'#6#+-#0+'#-23)?+#
2-8)()1'C#R8(-#('.&)A+#8%#%F2*%8'#%+#*%(*'('*#"'#>.)5*'3)?+@#3-.-#0+#
>$0%"-@#9LB)*)+-8#%(#'"#MII;=#\)+-X-8'#MII;O;]Y;k<C#R+#"-8#.%+3)-+'$-8#
8%.)+'*)-8#$-+$%#8%#"'.%+('&'#"'#80%*(%#$%#"'8#6#"-8#&-")1)'+-8#/0%#
>(%+H'+@#/0%#)*8%#'#R82'S'#-#40%3)'#%+#"'#$A3'$'#$%#"-8#MIII=#6-#*%82-+$H'#
v^!3'8-#"%8#B'+#'.'**'$-#3-+#8-5'#2'*'#80&)*"%8#'"#'1)?+_w#L0'+$-#8%#
*%2*%8%+('#>.)5*'*@#3-.-#0+'#$%85*'3)'=#2'*%3%#/0%#8%#-"1)$'#/0%#%+#
-+(!2+1%'#3(',%5#!")#*#!()#.C)#3"7'%)#*#.%&")#-(!10-(/()#^f#I.1$'(&J@#
R8(-#%8#'e+#.W8#3)%*(-#(*'('+$-#$%#>.)5*'3)?+@#)+(%*+'3)-+'"C#4)#+-#B'6#
(9"''")#)+0-1%&,%)5#"#71%&%)#2+%#)%#3+%/%#4%&/%'#3('(#3($('#%!#3()(6%5#
%&,"&-%)#9(*#2+%#)(-('#+&#3'E),(."5#*#&"#)%#3+%/%#3'%),('#!"#)+0-1%&,%#
2'*'#0+#1)'X%#)+(%*3-+()+%+('"#8)+#2-8%%*#5'*'+(H'8#'$%30'$'8#%+#'/0HC#
7'#5'*'+(H'#20%$%#8%*#$'$'#2-*#,'.)")'*%8#/0%#8%#/0%$'+#%+#G-")1)'C#
4-&*%#%8(-=#L-*(A8#9MIINO#:;MY:;P<#%8#.03B-#.W8#*%'")8('#/0%#"'#1)8)?+#
'".)&'*'$'#$%#Q%#"'#Z-**%#9MIIT<C#!8H=#8%#8'&%#/0%#8%#2*%8('+#1'*)-8#
.)"%8#$%#$?"'*%8#2'*'#1)'X'*=#3-+#('8'8#$%#)+(%*A8#$%#]h#'"#.%8#-#.W8=#6#
'0+/0%#%"#>.)5*'+(%@#%8#%F20"8'$-#2-*#+-#(%+%*#$-30.%+(-8#%+#*%5"'#
()%+%#/0%#8%50)*#2'5'+$-C#4)#()%+%#AF)(-#%+#%+3-+(*'*#(*'&'X-=#(-$'1H'#
()%+%#/0%#$%$)3'*8%#'#.'+$'*#$)+%*-#2'*'#2'5'*#"'#$%0$'#$0*'+(%#0+#
&0%+# ()%.2-C#!"50+-8# B'8('# /0%$'+# %8(','$-8# 2-*# 2%*8-+'8# /0%# "%8#
8'3'+#80.'8#%"%1'$'8#2'*'#"0%5-#$%8'2'*%3%*#9L-*(A8#MIINO:;p<C#7-8#
$'(-8#/0%#,'"('+#'/0H#8-+#8-&*%#"'8#2%*8-+'8#/0)%+%8#2*%8('+#%8(%#$)+%*-#
6#3-&*'+#%8(-8#)+(%*%8%8C#LH+)3'.%+(%=#8%#20%$%#2*-2-+%*#/0%#%"#.%X-*#
+%5-3)-#+-#%8#>.)5*'*@#'"#%F(*'+X%*-=#8)+-#2*%8('*#$)+%*-#2'*'#/0%#-(*-8#

!"#$%&%'()$*"%&+,&-.

207

"-# B'5'+=# 6# *%'")a'*# 2*-2'5'+$'# 8-&*%# "'8# .'*'1)""'8#/0%# 8%# -&()%+%#


8'")%+$-#$%"#2'H8#2'*'#'+).'*#'#.W8#2%*8-+'8#'#.%(%*8%#%+#%"#&')"%C#R8#
8'&)$-#/0%#"-8#6#"'8#>.)5*'+(%8@#3-"'&-*'+#%+#%8(%#e"().-#'"'&W+$-8%#
$%# 808# AF)(-8# 30'+$-# 1)8)('+# 808# "05'*%8# $%# -*)5%+# 6# -30"('+$-# "-8#
'82%3(-8#+%5'()1-8#$%#80#%F)8(%+3)'#'""H=#3-.-#/0%#$%820A8#$%#-&(%+%*#
%8(0$)-8#802%*)-*%8#'/0H=#'""W#%8(W+#(*'&'X'+$-#3-.-#8)*1)%+('8O#>%8(W+#
$)820%8(-8#u#'#*%'")a'*#(*'&'X-8#)+$%8%'&"%8#/0%#+-#'3%2('*H'+#%+#808#
8-3)%$'$%8#$%#-*)5%+#u#.%#$'#2%+'#u#/0%#B'6'#%8(0$)'$-#('+(-#2'*'#
/0%#'B-*'#%""'#1'6'#'#").2)'*#u"-#B%.-8#50'*$'$-#$)3)%+$-#/0%#8%#B'#
)$-#'#R82'S'#2'*'#(-.'*#0+#30*8-@#9d0'650'#%(#'"#MI:ION;=#T;<C#\'&*W#
-(*-#3*)(%*)-#$%+(*-#$%#"'#d)"$O
PC## 7'# Vcdl!LcnD# %8# 0+# 3'.&)-# $%# *%8)$%+3)'# /0%# 3-+$03%# '# 0+#
3'.&)-#%+#"'#2-8)3)?+#8-3)'"#$%#"'#2%*8-+'#/0%#8%#(*'8"'$'=#6#%8(%#
3'.&)-#$%&%#.%X-*'*#80#8)(0'3)?+C
#
c+3"08-# 0+# 3'.2%8)+-# /0%# >.)5*'@# '# -(*'# *%5)?+# 2'*'# 8%50)*# 8)%+$-#
3'.2%8)+-#80%"%#)*#'#0+'#*%5)?+#.W8#)+(%5*'$'#'"#.%*3'$-#6#3-+#.'6-*%8#
2-8)&)")$'$%8#$%#'33%$%*#'#"'#()%**'#6#-&(%+%*#)+5*%8-8#.-+%('*)-8=#'"#
)50'"#/0%#0+#'"&'S)"#/0%#1'#'#R82'S'#2'*'#5'+'*#.W8#3-.-#'"&'S)"C#R+#
"-#)$%'"#+-#8?"-#8%#3-+8)50%#0+#'0.%+(-#$%#)+5*%8-8#8)+-#0+#'83%+8-#%+#
"'#%83'"'#$%#2*%8()5)-#"'&-*'"=#3-.-#$%#3'.2%8)+-#'#.)+%*-#-#,'&*)"=#$%#
2'8(-*'#'#3-.%*3)'+(%C#R+(-+3%8#3'08'+#a-a-&*'#"'8#8)(0'3)-+%8#$-+$%#
0+-#>.)5*'@#6#-&()%+%#.W8#$)+%*-=#2%*-#'#3'.&)-#$%#0+#$%83%+8-#8-3)'"#b#
$%#,'*.'3?"-5'#'#>)+(%*+'@#9(*'&'X'$-*'#$%#B-5'*<=#$)5'.-8C#Z'"#1%a#2-*#
%8(-#B'6#0+'#(%+$%+3)'#$%#3-+3%&)*#"'#>.)5*'3)?+@#&-")1)'+'#'3(0'"#3-.-#
I%81!1"J#"#(!#.%&")#(!$"#H"'L(/"5#3"'2+%#!")#,'()!(/")#-!()10-(/")#-"."#
/%# I%81!1(/")J# "# I'%H+$1(/")J5# 3"'# /%0&1-1G&# H"'L(/")5# $%&%'(!.%&,%#
3-+""%1'+#0+#$%83%+8-#8-3)'"#2-*#"'#2A*$)$'#$%#*%30*8-8#'&'+$-+'$-8#
%+#"'#B0)$'#6#"'#+%3%8)$'$#$%#'3%2('*#30'"/0)%*#%.2"%-#%+#%"#"05'*#$%#
$%8()+-C#7'#,'"('#$%#3-)+3)$%+3)'#3-+#%"#3*)(%*)-#P#('.&)A+#3-+(*)&0)*W#
'#"'#(%+$%+3)'#$%#.%+()*#8-&*%#"'#8)(0'3)?+#%+#%"#"05'*#$%#$%8()+-#2'*'#
$'*#"'#).2*%8)?+#/0%#8H#8%#B'#3-+8%50)$-#0+'#.%X-*'#%+#(-$-#8%+()$-C#
4%#3-.2*%+$%#/0%#(-$-#%"#.0+$-#/0)%*%#$'*#0+'#&0%+'#).'5%+#$%#8)#
.)8.-#6#+-#%F2-+%*8%#'#"'#&0*"'#6#%"#$%82*%3)-=#2%*-#%8(-8#$)8).0"-8#
'2-6'+# (-$'# 0+'# %8(*03(0*'# 8-3)-%3-+?.)3'# $%# "'# 30'"# "-8# (*'8"'$-8#

20"

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

2%*8-+'"%8#$%+-.)+'$-8#>.)5*'3)?+@#8-+#0+'#3-+8%30%+3)'#-#%F2*%8)?+=#
'+(%8#$%#8%*#0+#,%+?.%+-#%8(*03(0*'"#%+#8HC
Larealidaddetrsdela8migracin
#
7'#%8(*03(0*'#,0+$'.%+('"#$%(*W8#$%#%8(-8#(*'8"'$-8=#'"#.%+-8#$%#"-8#
/0%# 2*-2)'.%+(%# $%&%*H'+# 8%*# ""'.'$-8# >.)5*'3)?+@# b# %F3"06%+$-#
%+#2*).%*#"05'*#"-8#(*'8"'$-8#2-*#*'a-+%8#$%#%8(0$)-=#/0%#$%&%+#8%*#
""'.'$-8#>%8(0$)-@#6#+'$'#.W8#b#%8#%"#$%"#.%*3'$-#"'&-*'"C#4)#%+#"'#e"().'#
$A3'$'#.03B'8#.0X%*%8#&-")1)'+'8#B'+#)$-#'#R82'S'#%+#%"#>3)0$'$-#$%#
"-8#+)S-8#6#'+3)'+-8=#"'&-*%8#$-.A8()3'8=#").2)%a'@#9\)+-X-8'#MII;OPP<#
%8(-#%8#2-*/0%#.03B'8#.0X%*%8#%82'S-"'8#8%#B'+#)+3-*2-*'$-#'"#(*'&'X-#
'8'"'*)'$-#%F(*'#$-.A8()3-#6#6'#+-#%8(W+#$)82-+)&"%8#2'*'#*%'")a'*#%8('8#
('*%'8C#7-#.)8.-#B'#-30**)$-#%+#"-8#RRCUUCJ#m%*+W+$%aYs%""6#9MII;<#
2*-2-*3)-+'#%8('$H8()3'8#8-&*%#"'#2'*()3)2'3)?+#"'&-*'"#$%#"'8#.0X%*%8#
%+#'/0%"#2'H8C#V%+3)-+'#3-.-#"'8#2*-,%8)-+'"%8#(%3+?3*'('8#%.2"%'+#'#
>.)5*'+(%8@#)+$-30.%+('$'8#2'*'#30)$'*#'#808#B)X-8#9-2C3)(CO:]k<C['*'#
VAF)3-=#3)('#"'#%F2-*('3)?+#$%#"'8#%('2'8#)+(%+8)1'8#$%#.'+-#$%#-&*'#
%+#"'#.'+0,'3(0*'#2-*#2'*(%#$%#%.2*%8'8#+-*(%'.%*)3'+'8#'#"'8#a-+'8#
,*-+(%*)a'8#%+#"-#/0%#8%#3-+-3%#3-.-#"'#>.'/0)"'@=#306'#,0%*a'#"'&-*'"#
%8#%+#5*'+#2'*(%#,%.%+)+'#6#3-.20%8('#2-*#.0X%*%8#/0%#.)5*'+#$%8$%#
a-+'8#.W8#2-&*%8#$%"#)+(%*)-*#$%"#2'H8#9-2C3)(CO:NkYp<C

7-8#(*'8"'$-8#2-*#.-()1-8#$%#%8(0$)-=#20%8=#+-#,-*.'+#2'*(%#$%#%8('#
$)+W.)3'#"'&-*'"#)+(%**%"'3)-+'$'#6#+-#").)('$'#+)#*%3-*('$'#.W8#/0%#
,-*.'".%+(%# 2-*# "'8# ,*-+(%*'8# )+(%*+'3)-+'"%8=# '82%3(-# /0%# B'# 8)$-#
*%3-+-3)$-#2-*#3-.%+('*)-8#8-&*%#"'#>.)5*'3)?+@#,%.%+)+'#2'*'#30)$'*#
(&-1(&")#*#&1T")#(!#-(!10-('!"#-"."#I-(/%&()#/%#-+1/(/"J#D%&#'%H%'%&-1(#(#
/0%#%8('8#.0X%*%8#'#80#1%a#80%"%+#$%X'*#808#2*-2)-8#B)X-8#'/0H#%+#.'+-8#
$%#-(*'8#2%*8-+'8<C#D-#%8#+%3%8'*)-#*%.'3B'*#8-&*%#"'#3-+(*)&03)?+#$%#
"'#.'+-#$%#-&*'#>.)5*'+(%@#&'*'('#%+#"-8#2'H8%8#$%#$%8()+-=#2%*-#^/0A#
2'8'#%+#808#2'H8%8#$%#-*)5%+_#!/0H#"'#2*)+3)2'"#3-+(*)&03)?+#%3-+?.)3'#
%8#'#(*'1A8#$%#"'8#*%.%8'8=#80.'8#$%#$)+%*-#/0%#.'+$'+#$%#.'+%*'#.W8#
-#.%+-8#*%50"'*%8#'#808#,'.)")'*%8#%+#%"#"05'*#$%#-*)5%+C#\'6#&'8'+(%#
$%&'(%#8-&*%#%"#$%8()+-#$%#%8(%#$)+%*-C#l-+3q%+#%(#'"#9MII;<#2*%8%+('+#"'#
1)8)?+#.W8#-2().)8('#$%#0+'#>.)5*'3)?+#$%#3-$%8'**-""-@#9-2C3)(Ok:=:]]Y
j?O#%!#3(F)#/%#/%),1&"#)%#7%&%0-1(#-"&#%!#,'(7(6"#/%#!()#*#!")#I.1$'(&,%)J#*#

!"#$%&%'()$*"%&+,&-.

20#

E),")#7%&%0-1(&#(#!(#4%L#(#)+#3(F)#/%#"'1$%&@#e%#!(#X"''%#D:;;bO<;kl<<b?#
()%+%#0+'#1)8)?+#8).)"'*.%+(%#2-8)()1'#$%#"'#3-+(*)&03)?+#$%#*%8)$%+(%8#
%+#%"#%F(*'+X%*-#%+#%.2%$*'*#3'""%8#-#*%,'33)-+'*#2"'a'8#%+#808#20%&"-8#
$%#-*)5%+C#R"#.)8.-#'0(-*#B'3%#B)+3'2)A#%+#"'#2*-$033)?+#$%#$0*'a+-#
%+#B0%*('8#*%5'$'8#5*'3)'8#'#,-+$-8#$%#*%.%8'8#9Q%#"'#Z-**%#MIITO:k;Y
:T;<C#4)+#%.&'*5-=#%"#.%*3'$-#$%"#$0*'a+-#8%#B'#8'(0*'$-#6#6'#+-#B'6#
"'8#&0%+'8#5'+'+3)'8#-&(%+)$'8#2-*#0+-8#('+(-8#2)-+%*-8#$%"#30"()1-#
$%# ,*0('# .%X-*'$'=# 6# +-# %8# $%# (-$-# 3"'*-# 8)# %8('8# )+1%*8)-+%8# 8%*H'+#
8-8(%+)&"%8#8)+#3-+8('+(%8#)+6%33)-+%8#$%#$)+%*-#$%8$%#,0%*'=#.W8#/0%#
(-$-#30'+$-#"'#>.)5*'3)?+@#$%#"'#2-&"'3)?+#X-1%+#3-+()+e'#6#8?"-#"'8#6#
"-8#.'6-*%8#8%#/0%$'+#2'*'#-302'*8%#$%#"-8#(*'&'X-8C
#
7'#)+1%*8)?+#.W8#+-(-*)'#$%#"'8#*%.%8'8#%8#%+#3-+8(*033)?+C#Q%#+0%1-=#
%8(-#%8#.W8#%1)$%+(%#%+#%"#K'""%#!"(-#$%#L-3B'&'.&'=#$-+$%#8%#-&8%*1'#
3'8'8#,'8(0-8'8#2'*'$'8#%+#.%$)-#$%"#3'.2-=#%+#"-8#3'8-8#.W8#%F(*%.-8#
(%*.)+'$-8#2-*#',0%*'#3-+#%8.%*-#.)%+(*'8#%"#)+(%*)-*#/0%$'#%+#-&*'#
&*0('# 2-*/0%# +'$)%# 1'# '# 1)1)*# '""H=# 8?"-# 8-+# 2'*'# 8%*# .)*'$'8# $%8$%#
',0%*'C#R+#-(*-8#3'8-8#808#$0%S-8#""%5'+#2-*#2-3-8#$H'8#'"#'S-#.)%+(*'8#
%"#30)$'$-*#1)1%#%+#0+'#3B-a'#'"#"'$-C#7-8#3'8-8#3)('$-8#%+#d0'650'#%(#
'"#9MI:IO::MYN<#$%.0%8(*'+#0+'#-*)%+('3)?+#.W8#2*W3()3'#9>%+#"'#2"'+('#
&'X'#()%+%+#/0%#8%*#()%+$'8@<C#[%*-#%+#'.&-8#3'8-8#8%#$%8('3'#/0%#%8('8#
3-+8(*033)-+%8#()%+%+#/0%#%FB)&)*#%8()"-8#6#$%3-*'$-8#/0%#"'8#$)8()+50%+#
$%"#*%8(-#$%#"'8#3-+8(*033)-+%8=#5%+%*'+$-#0+#%,%3(-#$%#$%.-8(*'3)?+#
/0%#*%,0%*a'#"'#)$%'#$%#/0%#8?"-#8'")%+$-#$%"#2'H8#8%#20%$%#3-+8%50)*#
!")#'%-+')")#3('(#,%&%'#+&(#-()(5#"#%/10-1"5#()F@#U"#.1)."#"-+''%#-"&#%)(#
2'*(%#$%#"'8#*%.%8'8#5'8('$'#%+#3-+80.-8#%+(%*'.%+(%#80+(0'*)-8=#3-.-#
a'2'()""'8#6#*-2'#$%#.'*3'#6#'2'*'(-8#$%#$)1%*8)?+#3-.-#V[]#-#)[-$8=#
3-+80.-#2'*()30"'*.%+(%#+-(-*)-#%+(*%#"'8#6#"-8#B)X-8#'$-"%83%+(%8#$%#
>.)5*'+(%8@#6#('.&)A+#%FB)&)$-#2-*#>.)5*'+(%8@#30'+$-#10%"1%+#9-2C
3)(CO:M:<CP#!# 1%3%8# "'# %$03'3)?+# 2'5'$'# 2-*# *%.%8'8# ('.&)A+# *%80"('#
S# K2+F5#(!#9(7!('#/%#!(#1&R+%&-1(#%&#9C71,")#/%#-"&)+."#*#",'")#2+%#)%#(,'17+*%#(#
!(#P.1$'(-1G&P5#!")#(+,"'%)#&"#/1),1&$+%&#%&,'%#!(#1&R+%&-1(#/%#!")#'%$(!")5#H",")#
6#-(*'8#/0%#"'8#6#"-8#i.)5*'+(%8i#.'+$'+#$%8$%#'""W=#6#%"#).2'3(-#.W8#$)*%3(-#$%#
i.)5*'+(%8i#/0%#10%"1%+#'/0H#2-*#(%.2-*'$'8#-#('"#1%a#2%*.'+%+(%.%+(%=#%FB)Y
&)%+$-#"-8#&)%+%8#'$/0)*)$-8#6#$%.-8(*'+$-#,-*.'8#$%#3-+$03('#$),%*%+(%8#'#"'8#
/0%#(%+H'+#'+(%8#$%#1)'X'*C#

210

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

.W8#80+(0'*)'#/0%#2*-$03()1'#b#8%#%8(0$)'#%+#0+'#0+)1%*8)$'$#2*)1'$'#
2'*'# .-8(*'*# /0%# 8%# 20%$%# 2'5'*"'# 6# B'3%*# 5'"'# $%# *-2'# 6# '2'*'(-8#
$%"'+(%#$%#"'8#6#"-8#3-.2'S%*'8#$%#%8(0$)-=#8)+#$%$)3'*8%#3-+#8%*)%$'$#
'# -&(%+%*# 0+# (H(0"-# 2*-,%8)-+'"# 3-+# 1)8('# '# 0+# &0%+# %.2"%-# ,0(0*-C#
D-#B'6#$'(-8#/0%#2%*.)(%+#%1'"0'*#/0A#2-*3%+('X%#$%#"'8#*%.%8'8#8%#
1'+#%+#%"#3-+80.-#3-()$)'+-=#3-.-#5'8(-8#$%#'").%+('3)?+#98)#&)%+#8%#
'*50.%+('# /0%# "'# +0(*)3)?+# 80%"%# .%X-*'*# 30'+$-# B'6# *%.%8'8=# 2-*#
%X%.2"-#L-*(A8#MIINO]T;<=#/0A#2-*3%+('X%#8%#1'#%+#3-+80.-#80+(0'*)-#
9)+3"06%+$-#1)1)%+$'8#80+(0'*)'8<#6#/0A#2'*(%#""%5'#'#8%*#)+1%*()$-#%+#
'"5-#%,%3()1'.%+(%#2*-$03()1-=#/0%#20%$%#)+3"0)*#1)1)%+$'8#/0%#"0%5-#
8-+#'"/0)"'$'8#3-.-#('.&)A+#('""%*%8=#+%5-3)-8#*%+('&"%8#6#%$03'3)?+#
%+# ('+(-# /0%# %8('# e"().'# $'# "05'*# '# .%X-*%8# %.2"%-8# 2'*'# "'8# 6# "-8#
%$03'+$-8C# [%*-# (%+5-# /0%# $%3)*# /0%# %+# "'# ")(%*'(0*'# '/0H# 3)('$'# "'#
).2*%8)?+# %8# /0%# "'# )+1%*8)?+# *%'".%+(%# 2*-$03()1'# -302'# "'# 2'*(%#
.%+-*#$%#"'8#*%.%8'8C
#
d0'650'# %(# '"C# 9MI:I<# 2*%8%+('+# %"# %F'.%+# .W8# $%('""'$-# $%# "'#
3(',1-13(-1G&#/%#I.1$'(&,%)J#%&#0%),()#(2+F5#/%),(-(&/"#2+%#9(*#-()")#
$-+$%#A8(-8#'3%2('+#2'$*)+'a5-8#2%*-#.'+$'+#'#808#,'.)")'*%8#/0%#
%8(W+#%+#'/0H#2'*'#>*%2*%8%+('*"%8@#%+#%"#*)(-#$%#3*)8)8#1)('"#%+#30%8()?+J#
$%#'BH#8%#$%$03%#/0%#"-8#/0%#%8(W+#'/0H#*%3)&%+#%"#3'2)('"#8-3)'"#%,%3()1-#
$%"#2'$*)+'a5-#.)%+(*'8#%"#-#"'#>.)5*'+(%@#2-+%#%"#3'2)('"#%3-+?.)3-#
2'*'# "-8# *%5'"-8# 0# -(*-8# *%/0%*)$-8C# Q%8('3'+# /0%# 30'+$-# "'8# 6# "-8#
I.1$'(&,%)J#0&(&-1(&#)+)#3'"31")#'1,")#*#0%),()5#)"&#.C)#!+6")()#2+%#
"'8#$%#+-#>.)5*'+(%8@C#!*50.%+('+#/0%#%8(-#%F2*%8'#0+#3-.2*-.)8-#
.'+(%+)$-#3-+#808#(*'$)3)-+%8#6#30"(0*'#$%#-*)5%+J#('.&)A+=#'0+/0%#
%8(-8#'0(-*%8#+-#"-#.%+3)-+'+=#*%2*-$03%#0+#2*-3%8-#/0%#6'#B'#-30**)$-#
%+# "'8# 2*-1)+3)'8# &-")1)'+'8=# $-+$%# "-8# 6# "'8# >*%8)$%+(%8@# /0%# B'+#
1/"#(#4141'#%&#!()#-1+/(/%)#-(31,(!%)#/%!#3(F)#4+%!4%&#3('(#!()#0%),()#
2'(*-+'"%8#6#'80.%+#3-.-#2*%8(%8C#Z*'%+#3-+X0+(-8#.08)3'"%8#$%#.-$'=#
3-.2'*8'8#3-+#$)8,*'3%8#'"/0)"'$-8#$%#&-*$'$-*%8#3'*-8#$%#"'#3)0$'$=#
6# 8)*1%+# 3-.)$'8# 6# &%&)$'8# $%# "0X-# 93-.-# tB)8q6# 2-*# %X%.2"-<C#!8H#
%),(7!%-%&#+&#."/%!"#/%#!(#0%),(#(-%3,(7!%#2+%#%),C#H+%'(#/%!#(!-(&-%#
$%#"'8#6#"-8#>%8('+(%8@#93-.-#$)3%+#%+#`*0*-#'#"'8#2%*8-+'8#/0%#/0%$'+#
%&#!(#-".+&1/(/#/%#"'1$%&?#2+1%&%)#,1%&%&#2+%#'%&+&-1('#(#3()('#0%),()#
3"'2+%#!"#2+%#%!!")#*#%!!()#3"/'F(&#0&(&-1('#)%'F(#-"&)1/%'(/"#.1)%'(7!%#

!"#$%&%'()$*"%&+,&-.

211

6# ,0%+(%# $%# $%82*%3)-C# 4%# -&8%*1'# "'8# .)8.'8# 2*W3()3'8# $%# $)8).0"-#
$-+$%#8%#B'3%#5'"'#$%#(%+%*#$)+%*-#6#$'*8%#"-8#3-+80.-8#.W8#"0X-8-8=#
%41,(&/"#.%&-1"&('#!")#,'(7(6")#($",(/"'%)#*#!")#)(-'10-1")#3%')"&(!%)#
/0%#8%#*%'")a'+#$0*'+(%#%"#*%8(-#$%"#'S-#2'*'#(%+%*#%8%#$)+%*-C#Z-$-#
%8(-#)+3*%.%+('#"'#$),%*%+3)'3)?+#8-3)'"#%+#"'8#3-.0+)$'$%8#*0*'"%8#6#
,-.%+('#"'#)$%'#/0%#"'#e+)3'#.'+%*'#$%#>2*-5*%8'*@#%8#8'")%+$-#$%"#"05'*=#
8)%.2*%#%+#$)*%33)?+#'#8)()-8#.W8#.%(*-2-")('+-8#$%"#"05'*#$-+$%#0+-#
8%#%+30%+(*'#b#$%8$%#L0*'B0'*'#$%#L'*'+5'8#'#`*0*-=#6#$%8$%#7'#['a#
-#4'+('#L*0a#'#V'$*)$#-#G'*3%"-+'C
#
`(*-#'82%3(-#%3-+?.)3-#$%#"'8#*%.%8'8#%8#/0%#*%2*%8%+('+#0+#'0.%+(-#
%+#%"#80.)+)8(*-#$%#$)+%*-#92)(!-7.##0-<#/0%#%+(*'#'#"'#%3-+-.H'#8)+#
3-**%82-+$%*#'#"'#5%+%*'3)?+#$%#&)%+%8#6#8%*1)3)-8=#'"#)50'"#/0%#30'+$-#
%"#5-&)%*+-#).2*).'#$)+%*-#8)+#3-+(*-"C#4%#8'&%#/0%#%8(-#%8#0+'#3'08'#$%#
!(#1&R(-1G&@#m"#31%&)"#2+%#+&(#/%#!()#-(+)()#/%!#3%'1"/"#1&R(-1"&('1"#
/0%#8%#1)1)?#%+#G-")1)'#'#2*)+3)2)-8#$%#MIIP#B'&*H'#8)$-#X08('.%+(%#%"#
R+6"#/%#'%.%)()5#*#!(#1&R(-1G&#)%#9(7'F(#'%/+-1/"#3"-"#,1%.3"#/%)3+E)#
/%71/"#(!#.%&")#%&#3(',%#(#!(#-'1)1)#0&(&-1%'(#2+%#)%#/%)(,G#%&#%!#^"',%#
'#.%$)'$-8#$%#%8%#'S-=#/0%#B'#)+$03)$-#'#&'8('+(%8#>.)5*'+(%8@#'#1-"1%*#
$%820A8#6#*%$03)*#"'8#*%.%8'8#$%#"-8#/0%#8%#B'+#/0%$'$-C#7'8#*%.%8'8#
3+%/%&#,%&%'#+&#%H%-,"#1&R(-1"&('1"#1&/%3%&/1%&,%#/%#2+E#)%#-".3'(#
3-+#%""'8#b#('+(-#$'#8)#%8#"%3B%#[c7=#"'$*)""-8#$%#,'&*)3'3)?+#+'3)-+'"=#-#
%"%3(-$-.A8()3-8#3-*%'+-8#b#2%*-#(%+$*W+#-(*-#%,%3(-#+%5'()1-#2'*'#"'#
%3-+-.H'#+'3)-+'"#%+#('+(-#/0%#8%#$)*)5%+#'#'$/0)*)*#&)%+%8#).2-*('$-8#
$%#2*%8()5)-C#Z-$-#)+$)1)$0-=#,'.)")'#-#8%3(-*#/0%#$%2%+$%#%+#2'*(%#-#
(-('".%+(%#$%#*%.%8'8#8%#B'3%#$%2%+$)%+(%#$%#"-8#1')1%+%8#%3-+?.)3-8#
$%# -(*-# 2'H8=# 3-+# %,%3(-8# .0"()2")3'$-*%8# 2'*'# -(*-8# 8%3(-*%8# $%# "'#
%3-+-.H'# +'3)-+'"# 2*-1-3'$-8# 2-*# ,%+?.%+-8# 3-.-# "'# .%+3)-+'$'#
3*)8)8#&'+3'*)'#/0%#%+#8)#8-+#(-('".%+(%#'X%+-8#'#G-")1)'C#!8H=#8%#2-$*H'#
B'&"'*#$%#>3-Y3-"'28-@#-#>3-Y*%3%8)?+@#'#"'#1%a#/0%#>3-Y$%8'**-""-@#3-.-#
3-+8%30%+3)'#$%#"'#%3-+-.H'#$%#*%.%8'8C
DEuesunafamiliatransnacionalH
#
7'#>.)5*'3)?+@#3"W8)3'=#B'8('#.%$)'$-8#$%"#8)5"-#xx=#(*'('&'#$%#2%*8-+'8#
/0%#8%#/0%$'&'+#%+#%"#"05'*#$%#$%8()+-C#[-*#,'"('#$%#.%$)-8#$%#(*'+82-*(%#

212

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

6# 3-.0+)3'3)?+# *W2)$-8# 6# &'*'(-8# $%# "'*5'# $)8('+3)'=# +-# %*'# ,'3()&"%#


1-"1%*#'"#"05'*#$%#-*)5%+#2'*'#1)8)('8#3-*('8#+)#.'+(%+%*8%#%+#3-+('3(-#
.W8#/0%#'#(*'1A8#$%#0+'#/0%#-(*'#3'*('=#+)#B'&H'#8)8(%.'8#&'+3'*)-8#/0%#
,'3)")('&'+#%"#$%82'3B-#$%#*%.%8'8C#7'#'8).)"'3)?+#8-3)'"#6#30"(0*'"#%+#%"#
"05'*#$%#$%8()+-=#.W8#/0%#0+'#.%('=#%*'#0+#2*-3%8-#)+%1)('&"%=#%F3%2(-#
30'+$-#$%(%*.)+'$-8#,'3(-*%8#2-"H()3-8=#3-.-#8%5*%5'3)?+#2-*#>*'a'@#
-#*%")5)?+=#"-#).2%$H'+C#7-8#/0%#1-"1H'+=#3-.-#"-8#%F#'$.)+)8(*'$-*%8#
3-"-+)'"%8=#'#808#2'H8%8#$%#-*)5%+=#+-#%*'+#3-+8)$%*'$-8#>.)5*'+(%8@C#
R+#%"#8)5"-#xcx#+-#B'&H'#>.)5*'+(%8#)"%5'"%8@#9"-8#2'8'2-*(%8#6#1)8'8#8%#
9(&#$%&%'(!1L(/"#(#3(',1'#/%#!(#V'1.%'(#Z+%''(#W+&/1(!?#&1#7%&%0-1")#
8-3)'"%8# ).2-*('+(%8# 2'*'# +'3)-+'"%8# -# >.)5*'+(%8# "%5'"%8@# 8-&*%# "-8#
30'"%8#$)830()*C#7'#&'8%#$%#"'8#>,'.)")'8#(*'+8+'3)-+'"%8@#'3(0'"%8#8-+#
"-8#(*'+82-*(%8#6#.%$)-8#$%#3-.0+)3'3)?+#/0%#2%*.)(%+#)*#6#1%+)*#3-+#
,*%30%+3)'#6#.'+(%+%*8%#%+#3-+('3(-#3-+8('+(%=#3-.-#('.&)A+#*%.)()*#
$)+%*-#'#30'"/0)%*#2'*(%#6#30'"/0)%*#*'(-C
#
R+# -&*'8# 3-.-# d0'650'# %(# '"# 9MI:I<# 8%# +-('# 0+'# 3-+,08)?+# %+(*%#
I3('%&,%!(J# *# IH(.1!1(J# %&# %!# )%&,1/"# %),'1-,"@# B1# )%# ,".(# !(# /%0&1-1G&#
3"W8)3'# $%# >,'.)")'@# 3-.-# %"# 5*02-# $%# 2'*)%+(%8# /0%# 3-+,-*.'# 0+'#
0+)$'$#$-.A8()3'=#%+#('+(-#/0%#"'#8%2'*'3)?+#%+(*%#2'*)%+(%8#/0%#'+(%8#
3-+,-*.'*-+# 0+'# ,'.)")'# 8%'# 2*-"-+5'$'=# $%X'+# $%# 3-**%82-+$%*# '#
0+'#,'.)")'#2*-2)'.%+(%#$)3B'=#.)%+(*'8#"'#,'.)")'#'/0H#20%$%#'80.)*#
",'(#-"&0$+'(-1G&#(!#1&-"'3"'('#",'()#3('1%&,%)5#-"."#+&(#,F(#"#+&(#
'&0%"'=#'#"'#0+)$'$#$-.A8()3'C#d0'650'#%(#'"#9MI:I<#$%83*)&%+#'"50+-8#
3'8-8#2'*%3)$-8#'#"-#/0%#8%#B'#$-30.%+('$-#2'*'#,'.)")'8#+%5*'8#%+#
"-8# 50%(-8# 0*&'+-8# %8('$-0+)$%+8%8=# $-+$%# "-8# .)%.&*-8# 3)*30"'+#
%+(*%# 1'*)-8# $-.)3)")-8=# 3-.)%+$-# %+# 0+-# 6# $0*.)%+$-# %+# -(*-C# R8#
,*%30%+(%# %+3-+(*'*# (*%8# 5%+%*'3)-+%8# 9'&0%"-8=# 2'$*%8=# B)X-8j+)%(-8<#
1)1)%+$-#X0+(-8=#'#"'#1%a#/0%#+-#B'6#'"5-#2'*%3)$-#'#0+#3)3"-#*%50"'*#
$%#$%8'**-""-#$-.A8()3-C#7'#$)1%*5%+3)'#,*%+(%#'"#.-$%"-#$%#"'#,'.)")'#
+03"%'*# $%# $-8# 5%+%*'3)-+%8# 92'$*%8# %# B)X-8<# 3-+# 0+# 8-"-# $-.)3)")-#
%8('&"%# B)a-# /0%# "'8# ,'.)")'8# +%5*'8# 8%'+# 1)8('8# 3-.-# $%81)'$'8# 6#
/%0-1%&,%)5#(#!(#4%L#2+%#)+#-"&/1-1G&#)%#/%7%#%&#3(',%#(#/1)-'1.1&(-1G&#
"'&-*'"#6#2-")3)'"C#7-8#1'*-+%8#+%5*-8#+-#20%$%+#%+3-+(*'*#%.2"%-8#
%8('&"%8#6#8-+#%+3'*3%"'$-8#3-+#.'6-*#,*%30%+3)'#/0%#30'"/0)%*#-(*-#
$'+3"#)"-1(!M#3('(#-"&)%$+1'#7%&%0-1")#%),(,(!%)#!()#.+6%'%)#,1%&%&#2+%#

!"#$%&%'()$*"%&+,&-.

213

+%5'*#/0%#()%+%+#0+#.'*)$-#-#2'*%X'#/0%#"%8#2-$*H'#.'+(%+%*C#!e+#'8H=#
"-8#%8(0$)-8##'+(*-2-"?5)3-8#'*50.%+('+#/0%#808#,-*.'8#,'.)")'*%8#+-#
$%&%+#8%*#1)8(-8#3-.-#'+-*.'"%8#-#2'(-"?5)3'8C
#
R+#%"#3-+(%F(-#2'3%S-j'"(%S-#"'#+-*.'#%8#2'*%3)$'#'#"'#$%#"'#,'.)")'#
+03"%'*# %8('&"%=# .)%+(*'8# %+# %"# K'""%# !"(-# 3-3B'&'.&)+-# B'6# 0+'#
(*'$)3)?+#>.)5*'(-*)'@#9B'3)'#"'8#.)+'8=#B'3)'#!*5%+()+'=#'B-*'#B'3)'#
RRCUUC#6#R82'S'<#$%#5%+%*'3)-+%8=#/0%#3-.&)+'#"'#%+$-5'.H'#"-3'"#
3-+#"'*5'8#2%*)-$-8#$%#8%2'*'3)?+#3-+605'"#$%&)$-#'#"'#>.)5*'3)?+@=#
'+(%8#$%"#.'*)$-=#'B-*'#20%$%#8%*#$%#"'#%82-8'C#7'#2*%8%+3)'#3%*3'+'#
$%#"'#2'*%+(%"'#$%#0+-#-#'.&-8#3?+605%8#,'3)")('#3-.2'*()*#%"#30)$'$-#
$%#+)S-8#6#-(*'8#('*%'8#$-.A8()3'8#6#%"#%X%*3)3)-#$%#0+#3-+(*-"#8-3)'"#
2'*'# ).2%$)*# /0%# 8%# &08/0%# -(*'# 2'*%X'C# c+3"08-# %+# %"# %F(%*)-*# "'#
3-+3%+(*'3)?+#$%#>.)5*'+(%8@#-*)0+$-8#$%"#.)8.-#"05'*#%X%*3%#0+#3-+(*-"#
8).)"'*#8-&*%#%"#3?+605%#>.)5*'+(%@=#6#2%*.)(%#/0%#%"#>.)5*'+(%@#20%$'#
(*'&'X'*#$0*'+(%#'S-8#3-+#2')8'+-8=#$%#.'+%*'#/0%#'2%+'8#'2*%+$%#%"#
)$)-.'#$%"#"05'*#$%#$%8()+-#6#+-#8'"%#$%"#3-+(%F(-#30"(0*'"#$%#-*)5%+C#
d'8('#"-#.H+).-#2'*'#80#80&8)8(%+3)'#'""H#6#$%$)3'#"'#.'6-*#2'*(%#$%#
808#)+5*%8-8#2'*'#"'8#*%.%8'8C#4%*H'#.W8#'3%*('$-#B'&"'*#$%##$r!(%!0$7#
(*'+8+'3)-+'"%8#'+(%8#/0%#8$2'0'$7C#
#
7-#.)8.-#1'#2'*'#0+#%8(0$)-#$%#3'8-#$%#d0'650'#%(#'"C#9-2C3)(C#2CTI<C#7'#
)+,-*.'+(%#B'&"'#%+#%,%3(-#$%#"'#2'*%+(%"'#$%#80#+0%*'#9%82-8'#$%"#B)X-<=#
%)3%-F0-(.%&,%#,'%)#9%'.(&()5#+&(#/%#!()#-+(!%)#%),C#-()(/(#-"&#%!#916"#
$%#"'#)+,-*.'+(%C#7'#2*).%*'#%+#)*8%#'#R82'S'#%*'#"'#B%*.'+'#.'6-*#
/0)%+#"0%5-#B)a-#(*'%*#'#80#%82-8-#6#$-8#B)X-8C#Q%820A8#"%#8)50)?#0+'#
8%50+$'#B%*.'+'=#'"#2'*%3%*#8-"(%*'=#X0+(-#3-+#"'#.%+3)-+'$'#+0%*'=#6#
0&(!.%&,%#%!#916"#*#!(#&1%,(5#3($(&/"#)+)#3()(6%)#-"&#/1&%'"#.(&/(/"#
2-*# "'# +0%*'# 9+-# 8%# 8'&%# 3?.-# 8%# 2'5?# "-8# 2'8'X%8# $%# "-8# $%.W8<C#
!0+/0%#%"#(%F(-#$)5'#/0%#%8('#3'$%+'#8%#B'6'#%8('&"%3)$'#>'"#)+(%*)-*#
$%#"'#,'.)")'#%F(%+$)$'@#9)&)$C<#+-#%8#3-**%3(-=#2-*/0%#+'$'#)+$)3'#/0%#
"'8#6#"-8#)+(%5*'+(%8#3-+,-*.'*-+#0+'#8-"'#0+)$'$#$-.A8()3'#'+(%8#$%#
>.)5*'*@O#8%#(*'('#$%#1H+30"-8#$%#2'*%+(%"'C#4%#B'&"'#%+#(A*.)+-8#1'5-8#
$%#/0%#m0"'+'#>""'.?@#'#V%+5'+'#-#r0('+-=#8)+#'3"'*'*#8)#"'#2%*8-+'#
/0%#8%#,0%#"-#$%83*)&)?#'8H=#8)#%*'#0+'#>""'.'$'@#.W8#-#.%+-8#)+8)8(%+(%#
-"&#+&#"H%',(#/%#,'(7(6"#0'.%#(!!C5#"#,(!#4%L#'%0%'%#(#-"&)%$+1'#2+%#!%#

214

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

.'+$'*'#0+'#3'*('#$%#)+1)('3)?+#3-.-#*%/0)8)(-#"%5'"=#/0%#B'3%#2'*%3%*#
/0%#,0%#>""'.'$-@#2%*-#%*'#'#8-")3)(0$#$%#"'#2%*8-+'#'/0HC#L-.-#-30**%#
%+#.03B-8#%8(0$)-8=#+-#8?"-#8-&*%#>.)5*'3)?+@=#$%83*)&)*#%8('8#3'$%+'8#
$%# 3-+('3(-8# 3-.-# >*%$%8# 8-3)'"%8@# +-# %8# .W8# /0%# 2-+%*# 0+# +-.&*%#
2*%(%+3)-8-#'"#B%3B-#$%#/0%#"'8#2%*8-+'8#8%#3-.0+)3'+#%+(*%#3-+-3)$-8=#
)+3"06%+$-#,'.)")'*%8C#m'"('#2*%3)8'*#%"#3-+(%+)$-#$%#"'8#3-.0+)3'3)-+%8#
6#-(*'8#(*'+8,%*%+3)'8#93-.-#$)+%*-#2'*'#2'8'X%8<#6#"'#+'(0*'"%a'#2*%3)8'#
$%"#()2-#$%#1H+30"-#'#(*'1A8#$%"#30'"#8-+#(*'+8.)()$'8C
#
`(*'#3-+8('+(%#%8#'80.)*#/0%#%"#'"%X'.)%+(-#$%#0+#,'.)")'*#%8#8)%.2*%#
3'08'# $%# 80,*).)%+(-# %.-3)-+'"# 6# /0%# B'6# 0+# '+B%"-# 3-+8('+(%# $%#
*%0+)*8%#$%#.'+%*'#2%*.'+%+(%C#D-#8%#$)8()+50%#"-8#3'8-8#$-+$%#"'#
2'*()$'# *%82-+$%# '# 0+# $%8%-# 3-+83)%+(%# $%# '"%X'*8%# $%# 0+'# *%"'3)?+#
,'.)")'*#9%+#2'*()30"'*=#3-+605'"<#/0%#8%#B'&H'#(-*+'$-#)+8-2-*('&"%#
92C%C#LB)*)+-8#%(#'"C#MI:ION:=#Pp<C#R+#"'#30"(0*'#&-")1)'+'#B'6#0+#$%&%*#
8%*#.06#,0%*(%#$%#8-")$'*)$'$#,'.)")'*#/0%#B'3%#)+'3%2('&"%#"'#%F2*%8)?+#
1%*&'"#$%#0+#$%8%-#-#)+(%+3)?+#$%#$%8B'3%*8%#$%#"-8#,'.)")'*%8#-#'"#B%3B-#
$%#""%1'*8%#.'"#3-+#%""-8=#.W8#/0%#(-$-#*%,%*%+(%#'#"-8#3-+8'+50)+%-8#
D!(#-('$(#&%$(,14(#%)#/%)41(/(#9(-1(#!")#(0&%)?@#K+&2+%#%&#!(#3'C-,1-(#
0+'# 2%*8-+'# 2-$*H'# /0%*%*# '"%X'*8%# $%# %""-8=# 808# ,'.)")'*%8# ('.2-3-#
"%#$%X'+=#.W8#'e+#8)#()%+%#*%30*8-8#%3-+?.)3-8#6#8-3)'"%8#'2%(%3)&"%8C#
7'8#3'$%+'8#$%#2'*)%+(%8j3-+-3)$-8j2')8'+-8#,'3)")('+#)+,-*.'3)?+#6#
'"-X'.)%+(-#'#"-8#2%-*#0&)3'$-8#%+#%"#"05'*#$%#$%8()+-#6#"0%5-#).2)$%+#
/0%#0+'#1%a#.%X-*#0&)3'$-8#8%#$%81)+30"%+#$%#"-8#/0%#8%#3-+8)$%*'+#
3-+#$%*%3B-#$%#3-.2'*()*#"-8#*%30*8-8#-&(%+)$-8C#R+#%8(-=#"'#>.)5*'3)?+@#
,%.%+)+'# 2'*'# (*'&'X'*# %+# %"# %.2"%-# $-.A8()3-# ()%+%# 3'*'3(%*H8()3'8#
/0%#"'#$)8()+50%+#$%#"'#>.)5*'3)?+@#.'830")+'#%+#%"#2'8'$-#*%3)%+(%C#
U+# 1'*?+# /0%# 8%# (*'8"'$'# 2'*'# (*'&'X'*# %+# "'# 3-+8(*033)?+=# 0+'# 1%a#
%8('&"%3)$-=# ()%+%# .-()1-8# 2'*'# >""'.'*@# '# -(*-8# 1'*-+%8# 2'*'# /0%# "%#
8)*1'+# 3-.-# '60$'+(%8=# '2*-1%3B'+$-# $%# 80# (*'&'X-# 6# 3-+(*-"'+$-#
808#3-+('3(-8#8-3)'"%8#$%#.'+%*'#/0%#'60$'#'#5'*'+()a'*#%"#2'5-#$%#
3'E),(.")#9%-9")#3('(#0&(&-1('#)+)#41(6%)@#`&(#.+6%'#2+%#,'(7(6(#-"."#
%.2"%'$'#$-.A8()3'#('"#1%a#8%2'#'#(*'1A8#$%#808#2'(*-+%8#$%#-(*'#3'8'#
2+%#7+)-(#(#+&(#%.3!%(/(#"#&1T%'(5#3%'"#%!!(#.1).(#&"#)%#7%&%0-1('C#
$%#B'&%*#3-"-3'$-#'#80#2')8'+'#%+#%8%#20%8(-C#
#

!"#$%&%'()$*"%&+,&-.

215

7'8#$-.A8()3'8#(*'&'X'+#8-"'8#6#,0%*'#$%#"'#1)8('#2e&")3'=#/0%#"'8#%F2-+%#
'"#*)%85-#$%#.'6-*#%F2"-('3)?+#'#"'#1%a#/0%#"'8#")&%*'#$%"#3-+(*-"#8-3)'"#
$%#"'8#6#"-8#2')8'+-8#%+#%"#%F(%*)-*C#4)#%8#3'.'#'$%+(*-=#%8(-8#%.2"%-8#
-,*%3%+#"'8#.%X-*%8#2-8)&)")$'$%8#$%#'B-**'*#6#.'+$'*#*%.%8'8=#2-*/0%#
3'8)# +-# 8%# 5'8('# %"# 80%"$-J# ('.&)A+# '20+('+# '# .'6-*# '8).)"'3)?+#
'"# 3-+(%F(-# $%# $%8()+-=# 2-*# %"# 3-+('3(-# 3-+8('+(%# 3-+# -(*-# .-$-# $%#
1)$'=#,'3)")('+$-#"'#*02(0*'#3-+#%"#"05'*#$%#-*)5%+#6#%"#'8%+('.)%+(-#
2%*.'+%+(%#%+#%"#"05'*#$%#$%8()+-=#('"#1%a#3-+#0+'#2'*%X'#2*-3%$%+(%#$%#
%8%#"05'*C#!#"'#1%a=#"'#>.)5*'3)?+@#,%.%+)+'#-&")5'#'#.'6-*%8#'X08(%8#%+#
"'#0+)$'$#$-.A8()3'#$%#-*)5%+=#'"#.%+-8#30'+$-#"'#/0%#8%#1'#%8#.'$*%#
$%#,'.)")'C#`(*'8#2'*)%+(%8#,%.%+)+'8=#%+#"'#.)8.'#0#-(*'8#0+)$'$%8#
$-.A8()3'8=#()%+%+#/0%#3'.&)'*#808#'3()1)$'$%8#2'*'#30&*)*#80#'08%+3)'=#
-#8)+-#"-8#1'*-+%8#()%+%+#/0%#'2*%+$%*#'#.'+%X'*#"'#3'8'#6#"'#,'.)")'=#
'"5-#/0%#"%8#*%80"('#80.'.%+(%#3B-3'+(%#9(%8().-+)-8#%+#d0'650'#%(#'"C#
MI:IOP]YN<C#R8#+-('&"%#/0%#%"#'3W2)(%#$%#d0'650'#%(#'"C#8-&*%#/0A#2'8'#
30'+$-#"'#.'$*%#8%#1'#%8#3'8)#$)%a#1%3%8#.W8#"'*5-#/0%#%"#8-&*%#/0A#
2'8'#30'+$-#%"#2'$*%#8%#1'=#8%S'"#$%"#).2'3(-#*%"'()1-#$%#0+'#0#-(*'#
'08%+3)'#%+#(A*.)+-8#$%#'X08(%8#$%#-*5'+)a'3)?+#$-.A8()3'C#D-#3'&%#
$0$'#/0%#B'6#3'8-8#$-+$%#8%#B'#3'.&)'$-#"'#$)1)8)?+#$%#(*'&'X-#2-*#
5A+%*-#%+#*%820%8('#'#%8('#8)(0'3)?+=#2%*-#,'"('#1%*#/0A#,*%30%+(%8#8-+#%+#
3-.2'*'3)?+#3-+#"-8#3'8-8#$-+$%#8%#.'+()%+%#%8('#$)1)8)?+#*%30**)%+$-#
'# .0X%*%8# 2'*)%+(%8# -# %.2"%'$'8C# Z'.2-3-# %8# '"5-# %+(%*'.%+(%# 8)+#
2*%3%$%+(%8=#6'#/0%#l)1%*'#9:;;T<#3-.%+(?#%+#"-8#:;;I#3'8-8#$%#.'*)$-8#
$%#.0X%*%8#3-.%*3)'+(%8#/0)%+%8#3-3)+'&'+=#"'1'&'+#6#30)$'&'+#'#"-8#
B)X-8#.)%+(*'8#808#%82-8'8#1)'X'&'+#6#1%+$H'+C
#
7'8# 3-.0+)3'3)-+%8# .-$%*+'8# (*'+8.)(%+# "-8# 8%+().)%+(-8# 3-+# 0+'#
)+.%$)'(%a#'08%+(%#%+#"'8#3'*('8#$%#"%+('#%+(*%5'#$%#'+('S-=#6#2%*.)(%+#
3-+(*-"'*# 6# '3-+8%X'*# $%8$%# "'# $)8('+3)'=# '# "'# 1%a# /0%# 8%# '$.)+)8(*'#
%"#08-#/0%#8%#$'#'#"'8#*%.%8'8#6=#8)#%8#+%3%8'*)-=#8%#"%8#*%.)(%#'#-(*'#
2%*8-+'#.W8#*%82-+8'&"%#'"#3-+8('('*#0+#.'"#08-C#D-#-&8('+(%#%"#A+,'8)8#
/0%#8%#B'3%#%+#"-8#"'a-8#%.-3)-+'"%8=#'#.)#2'*%3%*#"-#,0+$'.%+('"#$%#
0+'# >,'.)")'# (*'+8+'3)-+'"@# 8-+# "-8# 1H+30"-8# %3-+?.)3-8C# L-*(A8# +-#
0()")a'#"'#%F2*%8)?+#>,'.)")'#(*'+8+'3)-+'"@#2'*'#"-8#3'8-8#/0%#$%83*)&%#
2'*'#!*&)%(-# 9MIINO# MN;YMT:<C# Z-$-8# 808# 3'8-8# (*'('+# $%# >.)5*'3)?+@#
.'830")+'#6#%"#.W8#(%.2*'+-#8'"%#$%#G-")1)'#2-*#2*).%*'#1%a#%+#:;kIC#

21)

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

['8'+#$%8$%#Nkh#B'8('#PIh#$%"#(-('"#$%#80#()%.2-#$%#1)$'#>3-+605'"@#
9%8#$%3)*=#$%8$%#%"#.-.%+(-#%+#/0%#8%#0+%+#3-+#0+'#2'*%X'#%8('&"%<#
1)1)%+$-# 8%2'*'$-8# $%# 808# %82-8'8# %# B)X-8C#!0+/0%# 80%"%+# 8'")*# 2-*#
2*).%*'#1%a#8)%+$-#8-"(%*-8=#8%#+-('#/0%#B'6#.%3'+)8.-8#8-3)'"%8#.06#
%,%3()1-8#/0%#2*-30*'+#/0%#'2%+'8#10%"1'+#8%#0+%+#3-+#0+'#.0X%*#$%"#
"05'*#6#$%820A8#%"#.'(*).-+)-#8%#.'+()%+%#+-#-&8('+(%#"'8#*%2%()$'8#
'08%+3)'8#$%"#.'*)$-C#7-8#.%3'+)8.-8#+-#8-+#('+#%,%3()1-8#%+#5'*'+()a'*#
/0%#"-8#)+5*%8-8#5%+%*'$-8#%+#%"#%F(%*)-*#*%5*%8'+#2'*'#8%*#)+1%*()$-8#
%&#,1%''()5#-()()#*#&%$"-1")5#3%'"#%),"#"-+''%#-"&#)+0-1%&,%#H'%-+%&-1(#
2'*'# %8('&"%3%*# 0+'# ,-*.'3)?+# 8-3)'"# "-3'"# $0*'$%*'=# 3-+# 2'*%3)$-8#
'#b#2-*#%X%.2"-#b#3-.0+)$'$%8#3-8(%*'8#%+#1'*)-8#2'H8%8=#$-+$%#"-8#
B-.&*%8#8-+#.'*)+%*-8#6#2'8'+#5*'+#2'*(%#$%#80#1)$'#1)'X'+$-#2%*-#
8)%.2*%#*%5*%8'+$-#'#80#"05'*#$%#-*)5%+C#\'6#0+'#)+(%*'33)?+#3-.2"%X'#
%+(*%#"'#%3-+-.H'#$%#-*)5%+#6#"-8#)+5*%8-8#5%+%*'$-8#%+#%"#%F(%*)-*=#
*%"'3)-+'$-# 3-+# 0+# ()2-# $%# )+8%*3)?+# ',0%*'# $-+$%# "-8# >.)5*'+(%8@#
2'*()3)2'+# %+# %.2*%8'8# 3-+X0+('8# 93'8-# 3-+8(*033)?+<C#!2'*(%# $%# "'8#
*%.%8'8=#"'8#.0X%*%8#()%+%+#)+5*%8-8#2*-2)-8#%+#%"#"05'*#$%#-*)5%+=#3-.-#
"'#2*-$033)?+#$%#"%3B%#6#"'#2*-$033)?+#6#1%+('#$%#3B)3B'C#
#
U")#3+%7!")#/%#.('1&%'")#&"#)+%!%&#)%'#-!()10-(/")#-"."#I.1$'(&,%)J@#
X(!#4%L#/%7%.")#+'/1'#",'(#-!()10-(-1G&5#%&#4%L#/%#I.1$'(&,%)J5#3('(#
3'8-8#3-.-#"-8#$%#!*&)%(-C#D-#3*%-#/0%#>,'.)")'#(*'+8+'3)-+'"@#8%'#"-#
'$%30'$-=#6'#/0%#%8('#,-*.'3)?+#2'*()30"'*#+-#$%2%+$%#$%#"'#,'.)")'#+)#
('.2-3-#8%#").)('#'#"'#2'*%+(%"'=#8)+-#)+1-"03*'#(-$'#0+'#3-.0+)$'$#
6=# 8%# 2-$*H'# $%3)*=# B'8('# 0+'# *%5)?+C# R8('# 8-3)%$'$# "-3'"# 5%+%*'# "'#
%+$-5'.H'#/0%#5'*'+()a'#%"#*%(-*+-#$%#2%*8-+'8#6#*%30*8-8#6#('.&)A+#
5'*'+()a'#%"#2'5-#$%#"-8#2*A8('.-8#2'*'#)+)3)'*#"-8#1)'X%8#'"#%F(%*)-*C#
7-8# 3'8-8# $%83*)(-8# 2'*'# R"#!"(-=# 7'# ['a# 6# 4'+('# L*0a# *%82-+$%+# '#
,%+?.%+-8#*%3)%+(%8=#B'8('#)+3)2)%+(%8=#306'#$0*'3)?+#6#(*'6%3(-*H'#8-+#
'e+#)+3)%*('8C#\)+-X-8'#9MII;&O:Tp<#$%8('3'#%"#).2'3(-#$%#"'#$%3"'*'3)?+#
'+()3)2'$'#$%#/0%#'#2'*()*#$%#'&*)"#MIIp#8%#)&'#'#*%/0%*)*#0+'#1)8'#2'*'#
%+(*'*#'#R82'S'=#/0%#$%8'(?#>0+'#1%*$'$%*'#%8('.2)$'#B0.'+'@#B'3)'#
%8%#2'H8=#.W8#2'*'#'2*-1%3B'*#"'#-2-*(0+)$'$#$%#%+(*'*#'+(%8#$%#/0%#
-(*%'(#!(#,'(&-(#!%$(!#2+%#3"'#,%&%'#3!(&%)#"#I%),'(,%$1()J#/%0&1/()#2+%#
6+),10-('"&#1'#(!!C#%&#%)%#.".%&,"@#e%)3+E)#9(#!!%$(/"#!(#-'1)1)#0&(&-1%'(#
$-+$%#R82'S'#B'#*%80"('$-#,0%*(%.%+(%#5-"2%'$'C#R+#MI:M=#8%#B'&"'#

!"#$%&%'()$*"%&+,&-.

217

$%#+)1%"%8#$%#$%8%.2"%-#$%#MIh#-#.W8=#8-&*%#(-$-#%+(*%#"'#2-&"'3)?+#
X-1%+C#R"#8%3(-*#$%#3-+8(*033)?+#*%80"('#2*W3()3'.%+(%#2'*'")a'$-C#7-8#
.%+-8#',%3('$-8#8-+#"'8#2%*8-+'8#.'6-*%8=#/0)%+%8#6'#8-+#$0%S-8#$%#
808#1)1)%+$'8#6#$)82-+%+#$%#*%+('8#5'*'+()a'$'8J#('"#1%a#2-*#%8-#8)50%#
B'&)%+$-#-2-*(0+)$'$%8#$%#(*'&'X'*#2'*'#%""-8=#-2-*(0+)$'$%8#/0%#"'8#
6#"-8#X?1%+%8#%82'S-"%8#$%82*%3)'&'+#%+#%"#2'8'$-C#[%*-#3-+#8%.%X'+(%8#
+)1%"%8#$%#$%8%.2"%-=#B'8('#").2)'*#(*'8%*-8#20%$%#*%80"('*#.%X-*#/0%#
+'$'=#6#B'&*W#.%+-8#2'*%X'8#3-+#+)S-8#$-+$%#'.&-8#(*'&'X'+#,0%*'#$%#
"'#3'8'#6#*%/0)%*%+#"-8#8%*1)3)-8#$%#0+'#+)S%*'C#[0%8#%8(W#%+#>1%*%.-8@#
8)#"'#>.)5*'3)?+@#$%8$%#G-")1)'#'#%8%#2'H8#8%#B'#$%#.'+(%+%*C
#
LB)*)+-8# %(# '"C# 3)('+# '"50+-8# 3'8-8# $%# >.)5*'+(%8@# $-+$%# 8%# %8()20"'#
+&(#.%,(#%-"&G.1-(#/%0&1/(#2+%5#+&(#4%L#-+.3!1/(5#I)%#4(#(#4%&1'J#
9MI:ION]<C#!"5-# 2'*%3)$-# B'6# %+# 3)('8# $%# d0'650'# %(# '"C# 9MI:IO::N<#
'0+/0%#+-#$)3%+#%F2"H3)('.%+(%#/0%#30'+$-#B'+#'30.0"'$-#"-#+%3%8'*)-#
3('(#!(#-"&),'+--1G&#3!(&10-(/(#4(&#(#4"!4%'#3('(#4141'#%&#%!!(@#m(#/16%#
/0%#+-#8%#20%$%#'80.)*#/0%#"'8#2%*8-+'8#1'+#'#30.2")*#3-+#808#-&X%()1-8#
$%3"'*'$-8=# 8%'# 2-*/0%# 3)*30+8('+3)'8# +-# 2*%1)8('8# "-# ).2%$)*W+# -#
2-*/0%#3'.&)'*W+#$%#)$%'8#'#,0(0*-C#[%*-#%8('8#2*-20%8('8#'20+('+#
'#0+'#,-*.'#$%#.)5*'3)?+#$)*)5)$'#'#0+'#8-"'#8'")$'#2'*'#-&(%+%*#0+#
3'2)('"# 6# "0%5-# 1-"1%*# 8)+# )+(%+3)-+%8# $%# 8'")*# $%# +0%1-C# 4)# %8(-# 8%#
30.2"%=#%8('*H'.-8#,*%+(%#'#0+'#8)(0'3)?+#(-('".%+(%#$),%*%+(%#/0%#"'#$%#
!*&)%(-#$-+$%#"'8#8'")$'8#*%2%()$'8#'#0+-#-#1'*)-8#$%8()+-8#8%#'80.%+#
3-.-#2'*(%#$%"#3)3"-#$%#1)$'C#o0)aW8#"'#3"'*)$'$#$%#%8('#2*-20%8('#%+#
4'+('#L*0a#8%#$%&%#'#0+'#2%*3%23)?+#$%#"'#%3-+-.H'#*%5)-+'"#3-.-#
&-6'+(%=#$%#.'+%*'#/0%#-,*%3%#-2-*(0+)$'$%8#'#,0(0*-#6#(-$-#"-#/0%#
+%3%8)('#%8#-&(%+%*#0+#3'2)('"#%+#2-3-#()%.2-#2'*'#2-$%*#2'*()3)2'*#%+#
%""'=#'"5-#/0%#%8#2-8)&"%#B'3%*#%+#.W8#3-*(-#()%.2-#%+#%"#%F(%*)-*#/0%#
$%+(*-#$%"#2'H8C#4)#,0%*'#'8H=#"'#3-+$)3)?+#>(*'+8+'3)-+'"@#$%#"'8#,'.)")'8#
%8(0$)'$'8#+-#8%*W#.W8#/0%#0+'#%('2'#(*'+8)(-*)';#6#+-#0+'#3-+$)3)?+#
;# R8(-#'&*%#-(*-#(?2)3-#/0%#+-#B%#'&-*$'$-=#/0%#%8#"'#'.&)5y%$'$#$%"#i*%5*%8-iC#R+#
B3%//1&$#*#U!(&")#D<>>>?#9%.")#/%0&1/"#P.1$'(&,%)#/%#'%$'%)"P#-"."#3%')"&()#
/0%#$%820A8#$%#1'*)-8#'S-8#,0%*'#$%#"'#3-.0+)$'$=#B'+#10%"(-#2'*'#/0%$'*8%#'""H#$%#
.(&%'(#/%0&1,14(5#3%'"#H+%#3")17!%#1/%&,10-('#%),(#-(,%$"'1(#)"-1(!#3"'#/1)3"&%'#/%#
$'(-8#$)'3*?+)3-8#8-&*%#"'8#3-.0+)$'$%8#%+#30%8()?+=#3-+8('('+$-#%"#%8('&"%3).)%+(-#
/%0&1/"#/%#,(!%)#3%')"&()@#U(#3(!(7'(#P'%$'%)"P#%)#+,1!1L(/(#3('(#'%H%'1'#(#41)1,()#

21"

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

/0%#20%$%#$0*'*#2-*#5%+%*'3)-+%8=#3-.-#2*-2-+%+#"-8#%8(0$)-8-8#$%#
-(*-8#2'H8%8#3)('$-8#2-*#d0'650'#%(#'"C#9MI:IO:NY:P<C

7'%4%)#/%#/F()#"#+&#3('#/%#)%.(&()#D3('(#()1),1'#(#!(#0%),(#3(,'"&(!#"#(!#%&,1%''"#
$%#0+#2'*)%+(%#-#2'8'*#"'8#1'3'3)-+%8#%83-"'*%8<=#'#%8('$H'8#.W8#2*-"-+5'$'8#2%*-#
*%2*%8%+('+$-#%"#"'28-#%+(*%#0+'#6#-(*'#8'")$'#.)5*'(-*)'#9(H2)3-#$%#!*&)%(-#8%5e+#
\"',E)?5#*#(#!(#!!%$(/(#0&(!#2+%#3"&%#0&#(#!()#)(!1/()@#B%#.%L-!(#!(#3%')1),%&-1(#/%#+&#
1H+30"-#8%+().%+('"#3-+#%"#"05'*#$%#-*)5%+=#/0%#20%$%#%F2*%8'*8%#%+#1%+)*#'#X05'*#
,e(&-"#-#&')"'*#'""H=#3-+#%"#)+(%*A8#%+#.'+(%+%*#$%*%3B-8#%3-+?.)3-8#*%'"%8#98%#8)50%#
%F2"-('+$-#"'#()%**'#'#(*'1A8#$%#(%*3%*-8<#-#2-(%+3)'"%8#98%#/0)%*%#.'+(%+%*#"'#-23)?+#
$%#'2*-1%3B'*#%+#%"#,0(0*-<#6#-&")5'3)-+%8#6#$%*%3B-8#2-"H()3-8C#l%'".%+(%#,'"('+#
%8(0$)-8#8-&*%#"-8#*%8)$%+(%8#'"()2"W+)3-8#/0%#"-5*'+#3-+3%X'"H'8#%+#&'8%#'#808#1H+30Y
"-8#$%#-*)5%+#'0+/0%#+-#1)1%+#%+#%"#"05'*C#['*%3%#/0%#%"#'33%8-#'"#3'*5-#.0+)3)2'"#
2'5'$-#20%$%#8%*#%"#B'&%*#%X%*3)$-#0+#3'*5-#3-.0+'"#+-#2'5'$-#9LB0/0).)'#%(#'"#
:;<;O:;<?#5#3%'"#1$+(!.%&,%#!!%$(&/"#!")#0&%)#/%#)%.(&(#"#7(6(&/"#/%!#7+)#3('(#
'8)8()*#'#"'#'8'.&"%'#6#"0%5-#2'*()%+$-#$%#+0%1-#B'3)'#80#*%8)$%+3)'#.%(*-2-")('+'C#
R"#"05'*#$%#-*)5%+#8%*1)*H'#3-.-#2"'(',-*.'#$%#"'+a'#2-"H()3'=#.06#$)8()+(-#'#"-8#
3'8-8#$-+$%#+0%1'8#-2-*(0+)$'$%8#%3-+?.)3'8#*0*'"%8#92-*#%X%.2"-=#%"#'05%#$%#
"'#/0)+0'#%+#%"#!"()2"'+-#80*<#'+).'+#'#0+#*%5*%8-#%,%3()1-C#V%+-8#3"'*'8#8-+#"'8#
.",14(-1"&%)# /%# -"&,'17+-1"&%)# %-"&G.1-()# -"&# 31&,(# 0!(&,'G31-(5# 3"'# 3(',%# /%#
*%8)$%+(%8#%+#%"#%F(%*)-*#9Q%#"'#Z-**%#MIIT<J#^*%2*%8%+('+#0+#%8,0%*a-#$%#.'+(%+%*#
-(31,(!#)"-1(!#-"&#.1'()#(#+&#%4%&,+(!#'%$'%)"#/%0&1,14"d#AB"&#+&(#.C)-('(#3('(#
'%-"$%'#H"&/")#2+%#7%&%0-1(&#(#)+)#'%-"$%/"'%)#.C)#2+%#(#!(#-".+&1/(/#/%#"'1$%&5#
3-.-#8-82%3B'+#i8)+#2*0%&'8i#(*'('+$-#$%#('"%8#%8,0%*a-8#2-*#2'*(%#$%#*%8)$%+(%8#
*+&$+%T")#%&#!")#NN@``@d#AB"&#(--1"&%)#)1&-%'()#-+*"#7%&%0-1"#3('(#)+)#3'"."Y
(-*%8#%8#8%+().%+('"#i8%+()*#/0%#8%#%8(W#2'5'+$-#0+'#$%0$'#3-+#"'#2'(*)'#3B)3'i#-#
28)3-"?5)3-=#8%+()*8%#*%3-+-3)$-#30'+$-#+-#8%#"-#%8#%+#%"#"05'*#$%#$%8()+-=#2%*-#%+#
",'"#'%$1),'"#2+%#%!#/%#$(),('#%&#+&(#0%),(5#+&#'%$1),'"#3'"4%&1%&,%#/%#!(#-+!,+'(#/%#
'3-5)$'#6#+-#"'#$%#-*)5%+#6#2-*#"-#('+(-#+-#1)+30"'$-#3-+#0+#*%5*%8-#3-.-#('"=#2%*-#
8H#"'#2%*(%+3)'#'#0+'#3'(%5-*)'#$%#'8).)"'3)?+#").)('$'#%+#%8'#30"(0*'#$%#'3-5)$'_#
e(/(#!(#%),'+-,+'(#3(',1-+!('#/%#-!()10-1(-1G&#E,&1-(#%&#!")#NN@``@5#)+$1%'"#2+%#!(#
-!()10-(-1G&#/%#P.1$'(&,%)P#/%#B+/(.E'1-(#-"."#P!(,1&")P#3"'#!"#()1.1!(/")#2+%#
8%'+=# 2-$*H'# 3-+$03)*# '# .'+(%+%*# %8(%# ()2-# $%# 1H+30"-8# 3-+# %"# "05'*# $%# -*)5%+=#
.)%+(*'8#+-#-30**)*H'#"-#.)8.-#%+#R0*-2'#$-+$%#+-#B'6#0+'#3'(%5-*)'#-2%*'()1'#
%/0)1'"%+(%# '# i"'()+-8iC# Z'.2-3-# %8('.-8# ,*%+(%# '# 0+'# 30%8()?+# $%# i.)5*'3)?+i#
3-.-#('"=#8)+-#$%#"'8#1'*)'3)-+%8#$%#"'8#)+(%*'33)-+%8#%+(*%#'(*)&03)-+%8#A(+)3'8j
30"(0*'"%8#6#3)0$'$'+H'#%+#"-8#$),%*%+(%8#$%8()+-8#)+(%*+'3)-+'"%8C#4-+#-(*-8#%82'Y
3)-8#/0%#%F)5%+#('+(-#)+1%8()5'3)-+%8#%.2H*)3'8#$),%*%+3)'$'8#2-*#*%5)-+%8#3-.-#
0+#(*'&'X-#3-+3%2(0'"#2*%3)8-C

!"#$%&%'()$*"%&+,&-.

21#

Polticas,proyectosypegas:Dporqupreocupala8migracinH
#
D-#3'&%#$0$'#/0%#"'#>.)5*'3)?+@#'2-*('#$)+%*-#'#G-")1)'=#'0+/0%#B'6'#
.03B-8#1'3H-8#/0%#).2)$%+#0+#'+W")8)8#3'&'"#$%#"-8#08-8#/0%#8%#$'#'#
%8%#$)+%*-#6#808#3-+8%30%+3)'8#.)3*-#6#.'3*-%3-+?.)3'8C#d0'650'#
%(# '"C# 9MI:I<# B'&"'+# %+# '$)3)?+# $%# >*%.%8'8# 8-3)'"%8@# /0%# (*'('+# $%#
3-+-3).)%+(-8# '$/0)*)$-8# %+# %"# %F(%*)-*# /0%# 8-+# (*'H$-8# '/0HC# 408#
%X%.2"-8#(*'('+#.W8#$%#BW&)(-8#$%#3-+80.-=#2-*#%X%.2"-=#-(*-#()2-#$%#
3-.)$'=#2%*-#%+#-(*-8#3'8-8#8%#B'&"'#8-&*%#3-+-3).)%+(-8#"'&-*'"%8#-#
2*-$03()1-8#'$/0)*)$-8#/0%#20%$'+#3-+(*)&0)*#'"#$%8'**-""-#%+#%"#2'H8#
$%#-*)5%+C#[-*#('+(-=#8%*H'#"'.%+('&"%#/0%#2%*8-+'8#/0%#B'6'+#(*'&'X'$-#
2-*#0+-8#'S-8#30)$'+$-#'+3)'+-8#%+#%"#%F(%*)-*#6#10%"1%+#8)+#B'&%*#
'2*%+$)$-# '"5-# /0%# +-# 8'&H'+# 30'+$-# 8%# ,0%*-+C# \'6# 3'8-8# 30'+$-#
"'8#6#"-8#>.)5*'+(%8@#8%#3'2'3)('*-+=#2-*#%X%.2"-#'2*%+$)%+$-#3-8(0*'#
)+$08(*)'"#%+#G*'a)"#2'*'# "0%5-#'*.'*#808#('""%*%8#$%# 3-8(0*'#'/0H=# -#
'2*%+$)%+$-#(A3+)3'8#$%#)+X%*(-=#*)%5-#2-*#5-(%-#6#-(*'8#%+#"'#'5*)30"(0*'#
'*5%+()+'# /0%# $%820A8# 20$)%*-+# '2")3'*# %+# 808# (%**%+-8# %+# G-")1)'C#
\'%"#2+%#&"#%)#-()+(!#2+%#%),")#-()")#'%0%'%&#(#I.1$'(-1G&J#(#3(F)%)#
").H(*-,%8#$-+$%#%"#3-+(%F(-#%3-+?.)3-#+-#%8#('+#$)8()+(-#'"#&-")1)'+-C#
R+# R0*-2'=# "'8# 3-+$)3)-+%8# $%"# %.2"%-# 6# "'# $)1)8)?+# $%# (*'&'X-# 8-+#
('+#$)8()+('8#/0%#*'*'8#1%3%8#8%#'$/0)%*%#3-+-3).)%+(-8#$)*%3('.%+(%#
'2")3'&"%8#'/0HC#[-*#%X%.2"-=#"'#3-+8(*033)?+#%8#'"('.%+(%#%82%3)'")a'$'=#
'8H#/0%#'"50+-8#'"&'S)"%8#8%#%82%3)'")a'+#e+)3'.%+(%#%+#"'#3-"-3'3)?+#
$%#$),%*%+(%8#()2-8#$%#'a0"%X-8=#-(*-8#%+#"'#)+8('"'3)?+#%"A3(*)3'=#6#'8H#
803%8)1'.%+(%C#K-"1)%+$-#'#G-")1)'=#+-#1'+#'#%+3-+(*'*#%.2"%-#%+#%8'#
%82%3)'")$'$#%+#3'8-#$%#B'&%*"-#'$/0)*)$-=#8)+-#1'+#'#(%+%*#/0%#1-"1%*#
'#8%*#'"&'S)"%8#/0%#B'3%+#$%#(-$-C#R"#)+(%*A8#$%#"'#.'6-*H'#>.)5*'+(%@#%8#
8).2"%.%+(%#'$/0)*)*#$)+%*-#B'3)%+$-#"-#/0%#20%$%#-#()%+%#/0%#B'3%*=#
6#8)#$%#2'8-#'$/0)%*%+#'"50+'#,-*.'3)?+#+0%1'#%8-#%8#0+'#3'80'")$'$C
#
\'6#0+#.)8%*'&)")8.-#%+#"'8#20&")3'3)-+%8#*%3)%+(%8#8-&*%#"'#.)5*'3)?+=#
2+%# )1%.3'%# %&H(,1L(&# !()# /10-+!,(/%)5# 3%&()# *# .(!,'(,")# )+H'1/")#
2-*# "'8# 6# "-8# >.)5*'+(%8@# &-")1)'+-8=# 8-&*%# (-$-# %+# %"# %F(%*)-*C:I# 4%#
:I# 4)# 1'.-8# '# B'&"'*# $%# "-8# 3-8(-8# B0.'+-8# $%# "'# i.)5*'3)?+i=# 20%$-# 3)('*# 3'8-8#
-30**)$-8#%+(*%#MI::#6#MI:M#$%#i.)5*'+(%8i#)+(%*+-8=#%+#%8(%#3'8-#$%#"'#2*-1)+3)'#
V0S%3'8=#'"#8%3(-*#$%#!80+('#%+#40$#E0+5'8=#).20"8'$-8#2-*#"'#3'*%+3)'#$%#()%Y

220

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

2-$*H'#2%+8'*#/0%#'"#.%+-8#%+#R82'S'#+-#(%+$*H'+#2*-&"%.'8#3-+#%"#
)$)-.'=#2%*-#*%80"('#/0%#B'8('#'""H#+-#20%$%+#%+(%+$%*#"-#/0%#$)3%+#
"-8#%82'S-"%8=#2-*/0%#2*-1)%+%+#$%"#3'.2-#6#'2%+'8#B'+#'2*%+$)$-#
3'8(%""'+-#%+#"'#.)8.'#G-")1)'#9(%8().-+)-#%+#\)+-X-8'#MII;zOPT<C#R8#
3)%*(-#/0%#6-#.%#B%#8-*2*%+$)$-#3-+#%"#'**-X-#$%#"'8#6#"-8#&-")1)'+-8#
/0%#8%#"'+a'+#'=#$)5'.-8=#40%3)'=#8)+#B'&%*#B%3B-#0+#)+(%+(-#.H+).-#
$%#'$/0)*)*#3-+-3).)%+(-8#&W8)3-8#$%"#)$)-.'#"-3'"#+)#(%+%*#3-+('3(-8#
%8('&"%3)$-8#$%#'+(%.'+-#9'8H=#+-#(-$-8#>.)5*'+@#%+#&'8%#'#"'8#,'.-8'8#
*%$%8#8-3)'"%8<#2%*-#.%#2'*%3%#)"08'#"'#2*-20%8('#$%#-,*%3%*#30*8-8#$%#
I-(3(-1,(-1G&#3('(#.1$'('J#-"."#)%#)+$1'1G#(!#0&(!#/%#+&(#-"&H%'%&-1(#
8-&*%# >.)5*'+(%8@# &-")1)'+-8# %+# G%*5'.-# 9c('")'<C# ['*'# )+83*)&)*8%# %+#
('"#30*8-#8%*H'#+%3%8'*)-#/0%#"'#2%*8-+'#8%#$%#30%+('#$%#/0%#+-#8'&%#"-#
+%3%8'*)-#8-&*%#%"#2'H8#'#$-+$%#8%#$)*)5%#6#"'8#/0%#8H#8%#$'+#30%+('#$%#%8-#
80%"%+#2*%2'*'*8%#2-*#8H#.)8.-8=#.)%+(*'8#/0%#"'8#/0%#1%*$'$%*'.%+(%#
+%3%8)('*H'+#('"#30*8-=#+%('.%+(%=#+-#8%#$'*H'+#30%+('#6#+-#"-#(-.'*H'+C#
!$%.W8=# "'# .'6-*H'# $%# "-8# >.)5*'+(%8@# &-")1)'+-8# 8%# "'+a'+# 3-.-#
)+$-30.%+('$-8C#!0+/0%#6-#+-#3*%-#/0%#"'8#")8('8#$%#)+83*)(-8#%+#0+#
30*8-#2*%2'*'(-*)-#2'*'#)*#'#x#2'H8#8%*H'+#2'8'$'8#'0(-.W()3'.%+(%#'#
"'#%.&'X'$'#$%#%8%#2'H8#2'*'#/0%#"%8#2-+5'+#%+#0+'#")8('#+%5*'#b#>8)#
'2'*%3%+#3-+#1)8'#$%#(0*)8('=#8%2'#/0%#%+#*%'")$'$#2*-2-+%+#/0%$'*8%#
)"%5'".%+(%=#$%&%+#8%*#$%2-*('$-8#$%#)+.%$)'(-@J#2%*-#3-+-3)%+$-#"'#
)$)-8)+3*'8H'#+'3)-+'"=#.03B-8#8-82%3B'*H'+#/0%#8%*H'#'8H#6#8%50*'.%+(%#
+-# /0)8)%*'+# .-8(*'*# 808# )+(%+3)-+%8# )"%5'"%8# 2*%8%+(W+$-8%# '# ('"#
30*8-C#R8(-#8H#.%#2'*%3H'#0+'#2*-20%8('#$)*)5)$'#'#3*%'*#%.2"%-8#2'*'#
2*-,%8)-+'"%8#6#+-#'#B'3%*#'"5-#%,%3()1-#2'*'#"'#2-&"'3)?+#>.)5*'+(%@C
#
["&-g%&#%,#(!#D:;;>O<jn?#9(7!(&#/%#I!(#1.3")171!1/(/#/%#o3!(&10-('p#%!#
$%8'**-""-#-#"-8#%,%3(-8#$%#"'#.)5*'3)?+@=#'8%1%*'3)?+#'&8-"0('.%+(%#
**'8#%+#808#"05'*%8#$%#-*)5%+=#/0)%+%8#B'+#.0%*(-#%+#10%"3-8#$%#.-1)")$'$%8#%+#
%"#"05'*#$%#$%8()+-C#R+#0+#3'8-#.0*)%*-+#3'8)#(-$-8#"-8#2'$*%8#$%#,'.)")'#$%#0+#
5*02-#$%#,'.)")'8#i.)5*'+(%8i=#2-*/0%#B'&H'+#8)$-#3-+(*'('$-8#3-.-#3-+X0+(-#$%#
._)1-(#(+,G-,"&(#3('(#+&(#0%),(#%&#+&(#3"7!(-1G&#*+&$+%T(#4%-1&(@#B1#&"#9+71%'(&#
i.)5*'$-i#+-#B0&)%*'+#.0%*(-#$%#%8'#,-*.'=#2%*-#%+#%8(-8#3'8-8#+-#8%#$)8()+50%#
1H3().'8#i.)5*'+(%8i#$%+(*-#$%"#3-+X0+(-#$%#1H3().'8#$%#%8(-8#'33)$%+(%8#$%.'8)'$-#
,*%30%+(%8#%+#"-8#3'.)+-8#$%#E0+5'8=#8)+-#i3-**%3('.%+(%=#'#.)#2'*%3%*i#8%#'20+('#'#
"'#3'08'#%8(*03(0*'"=#"'8#3-+$)3)-+%8#'(*-3%8#$%#"'8#3'**%(%*'8#6#"'#,'"('#$%#)+1%*8)?+#
%8('('"#2'*'#.%X-*'*"'8C

!"#$%&%'()$*"%&+,&-.

221

3)%*('=# 2%*-# /0%# 2'*%3%# 3-+(*'$%3)*# "'8# 2W5)+'8# '+(%*)-*%8# $%# "-8#
.)8.-8# '0(-*%8# /0%# 2*-2-+%+# '33)-+%8# 2'*'# >2*-(%5%*# "-8# $%*%3B-8#
$%#"-8#.)5*'+(%8#6#(*'('*#"-8#2*-&"%.'8#/0%#"'#8%2'*'3)?+#2*-"-+5'$'#
$%# ,'.)")'*%8# 3-+""%1'@# 9-2C3)(CO:]N<C# \)+-X-8'# 9MII;'O:I:88<# ('.&)A+#
$%+0+3)'# "'# # >10"+%*'3)?+# $%# "-8# $%*%3B-8# B0.'+-8# 9u<# $%# "-8#
.)5*'+(%8@C#[-*#8020%8(-#%+#808#2'H8%8#$%#$%8()+-#+-#8%#"%8#*%82%('#808#
/%'%-9")#!(7"'(!%)#*#9(*#-()")#/%#,'C0-"#/%#3%')"&()#/"&/%#!()#-1,(/()#
%8(','8#$%#0+-8#.)"%8#$%#$?"'*%8#'#3'.&)-#$%#2'2%"%8#/0%#+0+3'#""%5'+#
2'*%3%+# (*)1)'"%8# %+# 3-.2'*'3)?+J# 2%*-# (-$-8# %8(-8# '&08-8# 20%$%+#
-30**)*#2-*/0%#B'6#.)5*'+(%8#3-+8)$%*'$-8#>)"%5'"%8@C#Z-$'#"'#5%+(%#1'#'#
(%+%*#(-$-8#"-8#$%*%3B-8#%+#(-$'8#2'*(%8#$%"#.0+$-#8?"-#30'+$-#8%#B'3%#
0+'#*%'")$'$#8%*#3)0$'$'+-#-#3)0$'$'+'#$%"#.0+$-#6#+-#$%#0+'#+'3)?+Y
%8('$-#$%(%*.)+'$-C#4%#B'#$%.-8(*'$-#3-+#3*%3%8#"'#,0+3)-+'")$'$#$%"#
3-+(*-"#$%#"'#>9)+<.)5*'3)?+@#2'*'#"-8#2'H8%8#$%8'**-""'$-8#91%*#!*'5-+A8=#
4'"5'$-#6#lH-8#MII;#2'*'#%"#3'8-#$%#"-8#RRCUUC<C#40#,0+3)-+'")$'$#2'*'#
!")#3(F)%)#)+7/%)(''"!!(/")#%)#.%&")#-!('(5#&"#"7),(&,%#!")#7%&%0-1")#
20+(0'"%8# 2'*'# $%(%*.)+'$-8# )+$)1)$0-8# -# 5*02-8# /0%# %"%1'+# 808#
)+5*%8-8# 6# +)1%"%8# $%# 1)$'# '# (*'1A8# $%# "'# >.)5*'3)?+@=# 6# B'6# %,%3(-8#
)+$0$'&"%.%+(%# +%5'()1-8=# 3-.-# "'# >,05'# $%# 3%*%&*-8@# *%2*%8%+('$'#
2-*#2*-,%8)-+'"%8#,-*.'$-8#%+#2'H8%8#2-&*%8#3-+#5'8(-8#$%#%$03'3)?+#
0)-(!5#2+1%&%)#!+%$"#4(&#(#,'(7(6('#%&#3(F)%)#/%)(''"!!(/")#/"&/%#!")#
)+%!/")#)"&#.+-9"#.%6"'%)#*#(/%.C)5#/%71/"#(#)+)#-(!10-(-1"&%)5#)%#
"%8# *%3-+-3%# 3-.-# .)5*'+(%8# >"%5'"%8@# 3-+# (-$-8# 808# $%*%3B-8C# [%*-#
8)# "-8# 2'H8%8# $%8'**-""'$-8# "03B'+# %+# 1'+-# 2'*'# ).2%$)*# "'# %+(*'$'#
/%#I.1$'(&,%)#1!%$(!%)J5#%)#/%-1'#!")#"0-1(!.%&,%#&"#/%)%(7!%)5#.%&")#
1'+#'#2-$%*#"-8#80&$%8'**-""'$-8#).2%$)*#"'#8'")$'#$%#>.)5*'+(%8@#/0%#
2'*'#%""-8#8-+#+-#$%8%'&"%8#9%8#$%3)*=#+-#8%#/0)%*%#2%*$%*"-8<C#4?"-#"'#
L0&'#3'8(*)8('#(01-#%"#3)+)8.-#$%#")&%*'*#'#2*%8-8#6#$%")+30%+(%8#3-+#"'#
3-+$)3)?+#$%#3-+1%*()*8%#%+#>.)5*'+(%8@#'#"-8#RRCUUC
#
L-+# *%,%*%+3)'# '# >"'# 8%2'*'3)?+# 2*-"-+5'$'# $%# ,'.)")'*%8@=# %8# -(*-#
2*%X0)3)-#802-+%*#/0%#%8(-#%8#+%3%8'*)'.%+(%#0+#"'8(*%=#&'8'$-#%+#"'#
)$%'# $%# /0%# (-$'# ,'.)")'# $%&%# 2'8'*# %"# .WF).-# $%"# ()%.2-# 2-8)&"%#
X0+(-8C#LB)*)+-8#%(#'"C#9MI:I<=#$%8$%#"'#28)3-"-5H'=#2*-2-+%+#>.($#)-)
'(7%'%.+')($0$#r)#'$d)d!7d!0$!7+.!0$=#/0%#%8#0+#W.&)(-#$-+$%#8%#80%"%+#
%F2*%8'*# 3-+# .'6-*# 3"'*)$'$# "-8# 8H+(-.'8# $%"# $0%"-=# 6# 8%# 20%$%+#

222

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

1&,%'4%&1'#"3"',+&(.%&,%J#DE&H()1)#%&#%!#"'1$1&(!M#)%#'%0%''%#(!#I/+%!"#
.)5*'(-*)-@=#-#8%'=#(*)8(%a'#2-*#"'#2'*()$'#$%#0+#,'.)")'*<C#L-.-#%8#$%#
%82%*'*=#"'#)+(%*1%+3)?+#'20+('#'#,-.%+('*#2*-3%8-8#$%#3-.0+)3'3)?+#
)+(*','.)")'*%8=# /0%# "-8# 2'$*%8# 3-+80"(%+# 6# $%&'(%+# 808# )+(%+3)-+%8#
$%#>.)5*'*@#3-+#"-8#B)X-8#2'*'#/0%#A8(-8#+-#8%#8)%+('+#'&'+$-+'$-8J#"'#
.)8.'# *%('BH"'# /0%# 2*-20%8('8# $%# )+(%*1%+3)?+# ,*%+(%# '# "'# 1)-"%+3)'#
)+(*','.)")'*#&'8'$'8#%+#-,%*('8#$%#(%*'2)'#,'.)")'*#2'*'#*%8-"1%*#"-8#
-"&R1-,")#-"&*+$(!%)#2+%#9(7'F(&#)1/"#'%R%6(/")#3%$(&/"#(#!")#916")@#
4)#B0&)%*'#'"5e+#5'+3B-#2'*'#'8)8()*#'#%8(%#()2-#$%#)+(%*1%+3)?+#93-.-#
/0%#>+-#1'.-8#'#)+83*)&)*#'#(0#B)X-#%+#%"#3-"%5)-#'"#'S-#8)#08(%$%8#+-#
8%# 2*%8%+('+# '"# ('""%*# $%# 3-.0+)3'3)?+# )+(*','.)")'*@=# 8)+# B'&"'*# $%#
'"50+'#$-+'3)?+#-#"'#2-8)&)")$'$#$%#8%*#'1'"'$-#2-*#0+#3*A$)(-#8)#8%#
()1),%h?# 3'"7(7!%.%&,%# 9(7'C# +&# 3_7!1-"# 2+%# 6+),10-('F(# !")# -+')")#
(&,%#)+)#0&(&-1(/"'%)5#3%'"#%)#%41/%&,%#2+%#!()#_&1-()#3%')"&()#2+%#
"7,%&/'C&#+&#7%&%0-1"#$('(&,1L(/"#D)(!('1"#*#-+''F-+!+.?#)%'C&#!()#*#
"-8#2*-,%8)-+'"%8#/0%#"-8#'$.)+)8(*'*W+C
#
7'# >.)5*'3)?+@# %8# *%80"('$-#9('"# 1%a#B'8('# %2),%+?.%+-# %+# 3'8-8<# $%#
2*-3%8-8#%8(*03(0*'"%8C#R+#('+(-#/0%#%8(-8#'3(-8#)+$)1)$0'"%8#$%#(*'8"'$-#
6# 3'.&)-# $%# *%8)$%+3)'# 3'08'+# '"5e+# ()2-# $%# 2*-&"%.'# 6# +%3%8)('+#
8%*#'(%+$)$-8#%+#0+#)+(%+(-#$%#$%(%+%*#'"#.%+-8#%8-8#3'.&)-8#.%+-8#
$%8%'&"%8#2'*'#%"#2'H8#$%#-*)5%+=#+-#8%#*%/0)%*%#$)*)5)*8%#'#"'8#2%*8-+'8#
6'#',%3('$'8#2-*#%""-8=#8)+-#&083'*#"'8#3'08'8#%8(*03(0*'"%8#80&6'3%+(%8C#
R8#-&1)-#/0%#%"#%.2"%-#%8(W#%+#"'#*'Ha#$%#"'#.)5*'3)?+=#'#"'#1%a#/0%#"'8#
6#"-8#/0%#.)5*'+#'"#%F(%*)-*#+-#8-+#%F'3('.%+(%#"-8#.W8#$%8%.2"%'$-8C#
D-#B%#1)8(-=#2-*#%X%.2"-=#0+#%8(0$)-#8-&*%#>.)5*'+(%8@#/0%#)+3"06%#$'(-8#
$%#"'8#(*'6%3(-*H'8#"'&-*'"%8#$%#%8'8#2%*8-+'8#'+(%8#$%#8'")*#$%"#2'H8=#2'*'#
4%'#)1#9(*#"0-1")#"#)%-,"'%)#.C)#3'"3%&)")#(#)(!1'#*#3"'2+E#)+#%.3!%"#
+'3)-+'"#+-#"%8#%*'#8'()8,'3(-*)-C#^D-#2-$H'+#%+3-+(*'*#(*'&'X-#%8('&"%_#
^7-#(%+H'+=#2%*-#"-8#)+5*%8-8#+-#8'()8,'3H'+#"-#/0%#%82%*'&'+#-#/0%*H'+#
*%3)&)*_#\)+-X-8'#9MII;zOpNYpk<#2*%8%+('#$'(-8#8-&*%#"'#%$'$#6#%"#"05'*#
$%#+'3).)%+(-#$%#%.)5*'+(%8#$%#L-3B'&'.&'#'#R82'S'#%+#MIIT=#2%*-#
+'$'#8-&*%#80#'3()1)$'$#"'&-*'"#-#+)1%"#%$03'()1-C::
::# R+#"'#2CpP#('.&)A+#2*%8%+('#$'(-8#8-&*%#i.-()1-#$%3"'*'$-#$%"#1)'X%iC#D-#%8#8-*2*%+Y
/%&,%#2+%#%!#.C)#H'%-+%&,%5#-"&#nq5bi5#%)#P'%+&10-(-1G&#H(.1!1('P5#3"'#)%'#."'(!Y
.%+(%#)+30%8()-+'&"%C#R8#+-('&"%#/0%#8?"-#]=:h#$%3"'*'+#i2'5'*#$%0$'8i#'0+/0%#

!"#$%&%'()$*"%&+,&-.

223

!"5-#/0%#8%#.%+3)-+'#92-*#%X%.2"-#%+#l-+3q%+#%(#'"#MI:I=#d0'650'#%(#
'"#MI:I<#%8#/0%#2%*8-+'8#/0%#8'"%+#$%"#2'H8#()%+%+#,'.)")'*%8#/0%#'+(%8#
>.)5*'*-+@#$%"#3'.2-#'#"'#3)0$'$#%+#G-")1)'#6#-(*-8#,'.)")'*%8#/0%#6'#B'+#
8'")$-#$%"#2'H8=#3-.-#8)#%8(-#,0%*'#'"5-#)+%82%*'$-#-#,0%*'#$%#"-#3-.e+#
93,C#3*)(%*)-#T#$%#"'#d)"$<C#^L0W+('8#2%*8-+'8#B'6#%+#G-")1)'#/0%#()#()%+%+#
,'.)")'*%8#/0%#B'+#>.)5*'$-@#%+#30'"/0)%*#$%#%8(-8#8%+()$-8=#.W8#'e+#
8)#)+3"0H.-8#+-#8?"-#"-8#/0%#8%#%8('&"%3)%*-+#2%*.'+%+(%.%+(%#%+#%"#
$%8()+-#8)+-#"-8#/0%#B'+#2'8'$-#2%*)-$-8#%+#'"50+'#>.)5*'3)?+@#'+(%8#
$%#*%(-*+'*#'#80#"05'*#$%#-*)5%+_#m%+?.%+-8#('+#$),0+$)$-8#+-#%F2")3'+#
+'$'J# 8?"-# 2-$*W+# 3-+(*)&0)*# '# %F2")3'*# "-8# B%3B-8# 3-+# 0+# *'8(*%-# 6#
-!()10-(-1G&#.C)#'%0&(/(5#-"."#9%#1&/1-(/"#(!#9(7!('#/%#!(#1.($%&#
)+3%'0-1(!#/%#N!#K!,"#-"."#I-1+/(/#/%#.1$'(&,%)J@#V+%/%#'%)+!,('#2+%#
"'#3-+$)3)?+#$%#>.)5*'+(%@=#-#8%'#B'&%*#3'.&)'$-#$%#*%8)$%+3)'#0+'#-#
.W8#1%3%8#%+#"'#1)$'=#+-#%8#$%(%*.)+'+(%#-#+)#8)/0)%*'#*%"%1'+(%#2'*'#
%"#()2-#$%#'33)?+#8-3)'"#/0%#)+(%*%8'C
#
\'6# ('+(-8# ,'3(-*%8# )+1-"03*'$-8# 6# ('+# 5*'+# 1'*)%$'$# $%# 3'8-8# 6#
'.&)%+(%8# /0%# '"50+'# 1%a# 3'%+# &'X-# %"# *0&*-# $%# >.)5*'3)?+@# /0%# +-#
)+(%+('*A# 8%S'"'*# %X%8# .W8# 2*%3)8-8# 2'*'# 80# '+W")8)8# %# )+1%8()5'3)?+C#
R8(-#%8#0+#(*'&'X-#)+)3)'"#6#6-#.)8.'#3-+8)$%*-#/0%#"'#%F2-8)3)?+#%8#
1&)+0-1%&,%.%&,%#/%)(''"!!(/(#D3'"7(7!%.%&,%#)%#&%-%)1,(#+&#,%8,"#/%#!(#
%F(%+8)?+#$%#0+#")&*-#2'*'#%F2")3'*#6#,0+$'.%+('*"'#3-+#"'8#*%,%*%+3)'8#
6# %X%.2"-8# %.2H*)3-8# '$%30'$-8<C# R8(%# '*(H30"-# %8# )+(%+3)-+'".%+(%#
2-"A.)3-#6#%82%*-#/0%#2*-1-/0%#*%820%8('8=#%+#%"#.%X-*#$%#"-8#3'8-8#
)+1%8()5'3)-+%8#%.2H*)3'8#/0%#)+(%+('+#8-&*%""%1'*#"-8#1'3H-8#8%S'"'$-8#
%+#"'8#%F)8(%+(%8=#6#('.&)A+#$%&'(%8#3-+3%2(0'"%8#%+#&'8%#'#"'#")(%*'(0*'#
%F)8(%+(%J# 2%*-# ()# *%3"'.-8# $%# ()2-# >f%""'# +-# *%3-+-3%# %"# *'3)8.-# $%#
/0%#8-.-8#1H3().'8#"-8#&-")1)'+-8#%+#R82'S'g#fRF(*'+X%*-8#3-.-#%""'#
%+(*'+#%+#G-")1)'#3-.-#%+#0+#3-**'"=#'3'8-#'#+-8-(*-8#+-8#$%X'+#%+(*'*#
'8H#%+#80#2'H8g#fZ'"#1%a#'#%8-8#5*)+5-8#+-#"%8#).2-*('#808#,'.)")'8=#2%*-#
'#+-8-(*-8#8Hg@#

V'*H'#d'")+$-#6#-(*-8#80%"%+#)+8)8()*#/0%#"'8#$%0$'8#3-+(*'H$'8#3-+#)+8()(03)-+%8#
0&(&-1%'()#2+%#9(7'F(&#%.7(+-(/"#(#3%')"&()#1&-(+,()#)"&#+&#.",14"#.+*#1.Y
2-*('+(%#2'*'#i.)5*'*iC#L"'*-#/0%#+-#8'&%.-8#30W"%8#$%#%8(-8#.-()1-8#$%3"'*'$-8#
8-+#1%*$'$%*-8C

224

!"#$!$%$&'()'!"*)#$!+,-!&")#'#&-!&./+!-,#'01,%2!-!&'.)3)4*2)0

Bibliografa
!*'5-+A8=#!+'#V'*H'J#U&%*(-#4'"5'$-#6#R82%*'+a'#l)-8=#MII;=#vD0%1-#2'(*?+#
.)5*'(-*)-#%+#"'#%3-+-.H'#5"-&'"O#%"#3'8-#$%#R8('$-8#U+)$-8w=#R+#V)5*'3)-+%8#
3-+(%.2-*W+%'8=#L-+(*)&03)?+#'"#$%&'(%=#7'#['a=#L!mjLcQR4YUV4!j["0*'"=#
22C]kYTpC
L-*(A8=#d%+%1)%1%=#MIIN=#['*()*#2'*'#/0%$'*8%C#402%*1)1%+3)'#6#3'.&)-#%+#"'8#
8-3)%$'$%8#3'.2%8)+'8#'+$)+'8#$%#G-")1)'=#7'#['a=#clQj["0*'"jcmR!C
LB)*)+-8=#m'&)'+'J#V'55)%#{W0*%50)J##D%"8-+#{-*$'+#6#s'*)+#\-""t%5=#MI:I=#
\0%""'8#.)5*'(-*)'8C#Q0%"-#6#*%")5)?+#%+#"'8#,'.)")'8#$%#.)5*'+(%8#$%"#["'+#
Z*%8#V)"#$%#"'#3)0$'$#$%#4'+('#L*0a=#7'#['a=#[cRGC
LB0/0).)'=#d0%*6#6#l0&A+#LB'.&)=#MI:I=#7'#*%3-+8()(03)?+#$%#{'3B@'#4060#6#
"'#+'3)?+#['q'X'/)C#R+(*%#%"#2-$%*#"-3'"#6#"'#3-"-+)'")$'$#$%"#$%*%3B-#)+$H5%+'=#
7'#['a=#[cRGC
Q%#"'#Z-**%=#7%-+'*$-=#MIIT=#D-#""-*%8=#2*%+$'=#2*-+(-#1-"1%*AC#V)5*'3)?+=#
.-1)")$'$#8-3)'"=#B%*)$'#,'.)")'*#6#$%8'**-""-=#7'#['a=#[cRGjcmR!jULGC
Q%#"'#Z-**%=#7%-+'*$-#6#E-"'+$'#!",'*-=#MIIp=#7'#+4!9.$(+4$d$C#L'.)+-8#6#
8%+$'8#$%#$%8'**-""-#%+#"-8#.0+)3)2)-8#.)5*'+(%8#$%#!*&)%(-#6#Z-3-=#7'#['a=#
LR4UjQcLEZYUV44j[cRGC
m%*+W+$%aYs%""6=# ['(*)3)'=# MII;=# vdA+%*-# 6# 3'.&)-# %3-+?.)3-# %+# "-8#
R8('$-8# U+)$-8# $%# D-*(%'.A*)3'# 6# VAF)3-=# :;IIYMIIIw=# R+# V)5*'3)-+%8#
3-+(%.2-*W+%'8=#L-+(*)&03)?+#'"#$%&'(%=#7'#['a=#L!mjLcQR4YUV4!j["0*'"=#
22C:::Y:kkC
d0'650'=#d%*.W+J#G%'(*)a#L'8()""-J#['(*)3)'#[*)%(-#6#['.%"'#R*50%('=#MI:I=#
7'#,'.)")'#(*'+8+'3)-+'"C#L'.&)-8#%+#"'8#*%"'3)-+%8#8-3)'"%8#6#,'.)")'*%8#$%#
.)5*'+(%8#$%#R"#!"(-#6#7'#['a#'#R82'S'=#7'#['a=#[cRGC
\)+-X-8'=#!",-+8-=#MII;z=#G083'+$-#"'#1)$'C#m'.)")'8#&-")1)'+'8#(*'+8+'3)-+'"%8#
%+#R82'S'=#7'#['a=#L7!L4`j[cRGC

!"#$%&%'()$*"%&+,&-.

225

\)+-X-8'=# !",-+8-=# MII;&=# V)5*'3)?+# &-")1)'+'# '# R82'S'O# '+(%3%$%+(%8=#


3'*'3(%*)a'3)?+#6#2%*82%3()1'8C#R+#V)5*'3)-+%8#3-+(%.2-*W+%'8=#L-+(*)&03)?+#
'"#$%&'(%=#7'#['a=#L!mjLcQR4YUV4!j["0*'"=#22C:kpY:PIC
l)1%*'=#4)"1)'=#:;;T=#vZ*'&'X-#$%#.0X%*%8O#%F2"-('3)?+#3'2)('")8('#6#-2*%8)?+#
3-"-+)'"#%+(*%#"'8#.)5*'+(%8#$%#7'#['a#6#R"#!"(-=#G-")1)'w=#R+#l)1%*'#93-.2<=#
4%*#.0X%*#)+$H5%+'=#3B-"'#-#&)*"-3B'#%+#"'#G-")1)'#2-8(3-"-+)'"#$%#"-8#'S-8#;I=#
7'# ['a=# V)+)8(%*)-# $%# Q%8'**-""-# \0.'+-j4%3*%('*)'# D'3)-+'"# $%#!80+(-8#
|(+)3-8=#$%#dA+%*-#6#d%+%*'3)-+'"%8j40&8%3*%('*)'#$%#!80+(-8#$%#dA+%*-C
l-+3q%+=#ZB%-J#`83'*#!"/0)a'"%(J#L*)8()+'#L)%"-J#l%$+%*#L%82%$%8#6#E%8B)$#
4%**'+-=#MII;=#7'#1%3)+$'$#/0%#+-#1)'X?C#V)5*'3)?+#)+(%*+'3)-+'"#6#$%8'**-""-#
3-.0+)('*)-#%+#a-+'8#2%*)0*&'+'8#$%#L-3B'&'.&'=#7'#['a=#[cRGC
42%$$)+5#!")8-+#6#Q'1)$#7"'+-8=#:;;;=#D-#B'6#"%6#2'*'#"'#3-8%3B'C#U+#%8(0$)-#
3-.2'*'()1-# $%"# 8)8(%.'# 2*-$03()1-# 6# "'8# *%"'3)-+%8# 8-3)'"%8# %+# LB'*)# 6#
LB0"0.'+)=#7'#['a=#7'#['a=#[cRGC

Vous aimerez peut-être aussi