european industry and monetary policy. policy and technical issues. bilbao presentation
TRANSCRIPT
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Luripl`e Loieimdo `eh _iod`c Oimmdttll
L\ZI^L@E DEH\_XZT @EH MIELX@ZT ^ICDOTXbl ricl ia tbl Luripl`e Devlstmlet J`eg (LDJ)
^ICDOT @EH XLOBEDO@CD__\L_
Jdcj`iEiv :> :>0
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@. I\Z ^ZIFLOX D_ EIX ZLC@XLH XI _IML \_\@C^ICDXDO@C HLJ@XL_ IE MIELX@ZT ̂ ICDOT
J. DEQICQDEK LDJ D_ OIM^@XDJCL [DXB XBLIJFLOXDQL_ IA MIELX@ZT ^ICDOT
O. DEQICQDEK LDJ DE MIELX@ZT ^ICDOT D_ @ QLZTOCL@Z [@T AIZ DM^ZIQDEK MIELX@ZT
LAADODLEOT @EH @ CL__ DEAC@XDIE@ZT DM^@OX IAMIELX@ZT LR^@E_DIE
^ICDOT D__\L_. [by dt m`ttlrs6 Xi oc`rdaytb`t …
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.. MIELX@ZT LR^@E_DIE. _IML ̂ ICDXDO@C D__\L_@. MIELX@ZT LR^@E_DIE Q_. ZL_XZDOXDQL ^ICDODL_J. HDAALZLEX QDL[_ @EH DEXLZL_X_ JLX[LLE MLMJLZ _X@XL_O. MIELX@ZT ZD_G Q_. AD_O@C ZD_GH. ^\JCDO ZD_G Q_. ̂ ZDQ@XL ZD_G
.. MIELX@ZT ̂ ICDOT @EH DEQL_XMLEX ̂ ICDOT
.. CDMDX_ IA MIELX@ZT ^ICDOT
.. ^ZDOL _X@JDCDXT ^ICDOT
.. ^ICDOT P\@CDADO@XDIE
.. MIELX@ZT ̂ ICDOT @EH KZI[XB ̂ ICDOT
.. ADE@C ZLM@ZG
DEHLR
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.. Xbl m`de `otdvdty ia mielt`ry lxp`esdie (LOJ) `eh L\ devlstmlet(LDJ) m`y jl sdmdc`r6 –DEFLOXDEK MIELT DE XBL LOIEIMT”
.. Biwlvlr, tbl m`de picdodls ti wbdob tblsl `otdvdtdls rlspieh ciighdaalrlet6
- Mielt`ry picdoy (LOJ)- Devlstmlet picdoy (LDJ)
.. Jut, ̀ s wl ¸cc sll6
- jitb picdodls o`eeit jl slp`r`tlh.- Mielt̀ ry ^icdoy ds eldtblr `e ijflotdvl ia tbl m`de rlolptir
ia Mielt`ry Lxp`esdie (tbl J`egdek _ystlm)
Mielt`ry lxp`esdie`eh devlstmlet picdoy
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@e Ippirtuedty air Devlstmlet ^icdoy
:0.>>>
0.>02.>
8>>.>>>
0.08>.>>>
Mdccdies L\Z
F\EOGLZ ̂ C@E CXZI :>00-0: XCXZI :>08-01 LOJ @^^ ̂ C@E
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CDMDX_ IAMIELX@ZT ^ICDOT
Xbl L\ Xrl`ty
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.. Xbl t`sgs ia tbl Luripl`e _ystlm ia Oletr`c J`egs (L_OJ) deocuhl tbl "hladedtdie`eh dmpclmlet̀ tdie ia mielt`ry picdoy" (@rt. 0:;.: L\ Xrl`ty) wdtbde tbl prdm r̀yijflotdvl ia m`det`dedek "prdol st`jdcdty – (@rt. 0:;.0 L\ Xrl`ty).
@rt. 0:;.06– 0. Xbl prdm`ry ijflotdvl ia tbl Luripl`e _ystlm ia Oletr`c J`egs (blrlde`atlr rlalrrlhti `s – tbl L_OJ ” ) sb`cc jl ti m`det`de prdol st`jdcdty. [dtbiut prlfuhdol ti tbl ijflotdvl ia prdol st`jdcdty, tbl L_OJ sb`cc suppirt tbl klelr`c loieimdo picdodls de tbl \edie wdtb `vdlw ti oietrdjutdek ti tbl `obdlvlmlet ia tbl ijflotdvls ia tbl \edie `s c`dh hiwe de
@rtdocl ? ia tbl Xrl`ty ie Luripl`e \edie. Xbl L_OJ sb`cc `ot de `ooirh`eol wdtb tblprdeodpcl ia `e iple m`rglt loieimy wdtb arll oimpltdtdie, a`viurdek `e laadodlet`ccio`tdie ia rlsiurols, `eh de oimpcd`eol wdtb tbl prdeodpcls slt iut de @rtdocl 004 ” .
Ijflotdvls ia Mielt`ry ^icdoyXbl L\ Xrl`ty
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Ijflotdvls ia tbl Lurisystlm
_i, m`de ordtlrd`6
0. ^ZDM@ZT IJFLOXDQL6 ^ZDOL _X@JDCDXT
:. Klelr̀ c loieimdo picdodls ia tbl \edie ( r̀t. ?)
?. ^rdeodpcl ia ̀ e iple m`rglt loieimy wdtb arll oimpltdtdie
8. Laadodlet ̀ ccio`tdie ia rlsiurols
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0?>. ”… da ` ml`surl jlcieks ti tbl o`tlkiry ia destrumlets wbdob tbl c`w privdhls air o`rrydek iut mielt`ry picdoy, tblrl ds `e dedtd`c prlsumptdietb`t suob ` ml`surl ds tbl rlsuct ia … mielt`ry picdoy … ` prlsumptdietb`t oiuch jl rljuttlh da … tbl ml`surl wlrl ti pursul ijflotdvls itblr tb`e tbisl splodado`ccy cdstlh de @rtdocls 0:;(0) XAL\ `eh :2:(:) XAL\ ” .
0?:. ”… de irhlr air ` ml`surl ia tbl LOJ `otu`ccy ti airm p`rt ia mielt`ry picdoy, dt must splodado`ccy slrvl tbl prdm`ry ijflotdvl ia m`det`dedek prdolst̀ jdcdty `eh dt must `csi t`gl tbl airm ia iel ia tbl mielt`ry picdoy destrumlets lxprlsscy privdhlh air de tbl Xrl`tdls `eh eit jl oietr`ry titbl rlqudrlmlet air adso`c hdsodpcdel `eh tbl prdeodpcl tb`t tblrl ds eisb`rlh ade`eod`c cd`jdcdty ” .
(I^DEDIE ia @hvio`tl Klelr`c L\ Oiurt ia Fustdol F`e 08 :>00<
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_i, air iur purpisl, tblsl rlqudsdtls must jl aucadcclh6
0. ^rdol st j̀dcdty `s ijflotdvl (@rt. ? ijflotdvls iecy de `
sloieh`ry pc`el).
:. X`gl tbl airm ia iel ia tbl mielt̀ ry picdoy destrumlets(juydek `eh slccdek ade`eod`c destrumlets, orlhdt iplr̀ tdies)
Cdmdts ia Mielt`ry ^icdoyXbl L\ Xrl`ty
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.. Xbl pidet ds eit da ^rdol _t`jdcdty ds `e ijflotdvl air tbl LDJ.Dt ds eit. Jut dt ds eldtblr si air tbl m`de rlolptir ia LOJauehs6 tbl J`egdek _ystlm.
.. Xbl m`de pidet ds da ob`eelcdek auehs tbriukb tbl LDJ o`ejl ` tiic air ^rdol _t`jdcdty de ` sdmdc`r w`y `s hidek sitbriukb tbl J`egdek _ystlm, `s usu`c.
Xbl LDJ `eh ^rdol _t`jdcdty
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^ZDOL _X@JDCDXT^ICDOT
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[b`t¸s ^rdol _t`jdcdty ^icdoy9
.. L\ Fustdol Oiurt6 Adkbt `k`dest deac`tdie
.. LOJ6 Adkbt `k`dest deac`tdie ir adkbt `k`desthlac`tdie , wdtb tbl `dm ia gllpdek deac`tdie jlciw jutocisl ti :% .
.. \su`ccy, dt ds hiel jy Oletr`c J`egs tbriukb dmpucsls`dmlh `t / miely suppcy
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AZIM L\ZI_T_XLM XI MIELT _\^^CT
Mielt`ry ^icdoy
MIELT_\^^CT / M?
J@EGDEK_LOXIZ
L\ZI_T_XLM
MIELX@ZTLR^@E_DIE
MIELX@ZTJ@_L
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Miely _uppcy `eh Orlhdt `rlhdrlotcy rlc`tlh
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.. Mielt`ry picdoy ds eit –` m`ttlr ia tbl j`egdekslotir ”, ia privdhdek cdqudhdty ti dt. Xbl ade`eod`c
slotir ds iecy `e destrumlet.
.. Xbl laalots ie miely suppcy `rl iecy `obdlvlhwble ‟ `eh da- tbl j`egs rldevlst tbl auehs de tbl
rl`c loieimy.
Xblrl ds ei ^rdol _t`jdcdty ^icdoywdtbiut Orlhdt ti Zl`c Loieimy
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– Mielt`ry picdoy tr`esmdssdie ob`eelcs hi eit
aueotdie `s mlob`edsms prihuodek dmmlhd`tllaalot jut `s ` ar`mlwirg tbriukb wbdob tbl LOJslehs iut ` slrdls ia ‒ dmpucsls — ir sdke`cs wdtb `vdlw ti tblm rl`obdek tbl rl`c loieimy. ” .
(I^DEDIE ia @hvio`tl Klelr`c L\ Oiurt ia Fustdol F`e 08 :>00<
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.. Xblrl `rl hdaalrdek ipdedies `jiut tbl lxtlet ti wbdobtbl j`egdek slotir rlhdrlots tbl LOJ auehs detiloieimdo `otdvdty.
.. Biwlvlr, dt ds klelr`ccy `oolptlh tb`t tbds rlhdrlotdieds iecy p`rtd`c. @ sdkedado`et pripirtdie ia tblrlsiurols rlm`de stuog ie j`egs j`c`eol sbllts, `rldevlstlh iutsdhl tbl luriziel ir `rl ob`eelclh detisplouc`tdvl jujjcls. De tblsl o`sls, tbl ijflotdvls ia miely suppcy, st`jdcdty ia prdols `eh mielt`ry picdoy`rl eit `obdlvlh.
Xblrl ds ei ^rdol _t`jdcdty ^icdoywdtbiut Orlhdt ti Zl`c Loieimy
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.. _i, `s tbl LL_O ^riflot pripisls, m`gdek surl tb`tmielt`ry lxp`esdie klts ti rl`c loieimy ds eit iecykiih air devlstmlet picdoy jut `csi air mielt`ry picdoy.
.. [ble auehs ob`eelclh tbriukb tbl j`egdek systlmhie ¸t `rrdvl ti tbl rl`c loieimy, tbly jloiml mlrlsujsdhdls ti tbl j`egs wdtbiut purpisl. Ir, da wl try tiqu`cday dt, tbly wiuch jl ` rlsuct ia –J`egdek _lotir_t j̀dcdty ^icdoy”, jut tbds picdoy sbiuch eit jl `eijflotdvl ia Mielt`ry ^icdoy `ooirhdek ti tbl L\ Xrl`ty.
Xblrl ds ei ^rdol _t`jdcdty ^icdoywdtbiut Orlhdt ti Zl`c Loieimy
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AZIM L\ZI_T_XLM XI ZL@C LOIEIMT
Mielt`ry ^icdoy
I\X IA XBL L\ZIVIELDEQL_XMLEX_
ADE@EOD@C _LOXIZ
J@EGDEK_LOXIZ
L\ZI_T_XLM
ZL@CLOIEIMT
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AZIM L\ZI_T_XLM XI ZL@C LOIEIMT
Mielt`ry ^icdoy
I\X IA XBL L\ZIVIELDEQL_XMLEX_
ADE@EOD@C _LOXIZ
J@EGDEK_LOXIZ
L\Z
I_T_X
LM LDJ ZL@C LOIEIMT
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J`eg orlhdt ds tbl cdeg jltwlleMielt`ry ^icdoy `eh ^rdol _t`jdcdty
^ZDOL_X@JDCDXT
+/- MIELT_\^^CTJ@EGDEK
_LOXIZ
L\ZI_T_XLM
+/- CI@E_+/- Detlrlst r`tls
/ Cdqudhdty
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Xbl cdeg jltwlle Mielt`ry ^icdoy `eh ^rdol _t`jdcdty@EH [B@X @JI\X LDJ9
^ZDOL_X@JDCDXT
+/- MIELT_\^^CT
LDJ
L\ZI_T_XLM
+/- CI@E_+/- Detlrlst r`tls
/ Cdqudhdty
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.. Arim ` qu`cdt`tdvl pidet ia vdlw, tbl cdeg jltwlleMielt`ry ^icdoy `eh ^rdol _t`jdcdty wirgs DE XBL _@ML[@T tbriukb tbl J`egdek _lotir ir tbriukb tbl LDJ.
.. @s wl ¸cc sll, tbl dmp`ot ie ^rdol _t`jdcdty tbriukb tblLDJ wiuch jl, `eyw`y, a`r mirl laadodlet.
LDJ ricl `eh ^rdol _t`jdcdty^icdoy
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LDJ ricl `eh ^rdol _t`jdcdty
I\X IA XBL L\ZIVIELDEQL_XMLEX_
ADE@EOD@C _LOXIZ
J@EGDEK_LOXIZ
L\Z
I_T_X
LM LDJ ZL@C LOIEIMT
^ZDOL
_X@JDCDXT
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^ICDOTP\@CDADO@XDIE
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^icdoy Pu`cdado`tdie. ^IDEX IA QDL[ IA ^ZDOL _X@JDCDXT
I\X IA XBL
L\ZIVIELDEQL_XMLEX_
ADE@EOD@C_LOXIZ
J@EGDEK_LOXIZ
L\ZI_T_XLM
ADE@EOD@C _LOXIZ_X@JDCDXT ^ICDOT
ADE@EOD@C _LOXIZ_X@JDCDXT ^ICDOT
MIELX@ZT ^ICDOT
LDJ MIELX@ZT ^ICDOT
L\ ^ICDOT
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MIELX@ZT ^ICDOT@EH KZI[XB ^ICDOT
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J`eg orlhdt ds `csi tbl cdeg jltwlleMielt`ry ^icdoy `eh Miely Hlm`eh
^ZDOL_X@JDCDXT
+/- MIELTHLM@EH
J@EGDEK_LOXIZ
L\ZI_
T_XLM
+/- CI@E_+/- Detlrlst r`tls /
Cdqudhdty
+/-KZI[XB
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J`eg orlhdt ds `csi tbl cdeg jltwlleMielt`ry ^icdoy `eh Miely Hlm`eh
^ZDOL _X@JDCDXT
+/- MIELTHLM@EH
J@EGDEK_LOXIZ
L\ZI_
T_XLM
+/- CI@E_XI ZL@C
LOIEIMT
+/-KZI[XB
+/- MIELT_\^^CT
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.. De tbl mdhhcl / ciek tlrm, kriwtb ds tbl mistdmpirt`et a`otir de tbl lvicutdie ia miely
hlm`eh.
.. _i t`gdek `ooiuet ia tbl dmp`ot ia picdodls dekriwtb ds eit iecy `e iptdie air mielt`ry picdoy.
Dţs ` ellh.
Mielt`ry ^icdoy ds eit iecy rlc`tlh ti Miely_uppcy jut `csi ti Miely Hlm`eh.
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Mielt`ry ^icdoy `eh Kriwtb ^icdoy
DEAC@XDIE@ZTDM^@OX
MIELX@ZTLR^@E_DIE
L\ZI
_T_XL
M
EIE-^ZIH\OXDQL @OXDQDXDL_
^ZIH\OXDQL
@OXDQDXDL_ KZI[XB
( MIELTHLM@EH)
MIELT_\^^CT
EI KZI[XB
( MIELTHLM@EH)
MIELT_\^^CT
EIDEAC@XDIE@ZT
DM^@OX
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Laadodleoy ia Mielt`ry ^icdoy
I\X IA XBL L\ZIVIELDEQL_XMLEX_
ADE@EOD@C _LOXIZ
J@EGDEK_LOXIZ
L\Z
I_T_X
LM
^ZIH\OXDQLLOIEIMT
LDJ ^ZIH\OXDQLLOIEIMT
ZL@C J\X EIE-
^ZIH\OXDQL LOIEIMT
Mielt`rydelaadodleoy
Mielt`rydelaadodleoy
Mielt`ry laadodleoy
jut deac`tdie`rydmp`ot
Mielt`rylaadodleoy
+Eie-deac`tdi-e`ry dmp`ot
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Luripl`e Loieimdo `eh _iod`c Oimmdttll
L\ZI^L@E DEH\_XZT @EH MIELX@ZT ^ICDOTXbl ricl ia tbl Luripl`e Devlstmlet J`eg
XLOBEDO@C @EH CLK@C D__\L_
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@s s`dh jlairl, tbds oicc`jir`tdie oiuch jl `obdlvlhde hdaalrlet w`ys6
.. Devicvlmlet ia tbl LDJ ir / `eh ia e`tdie`cprimitdie`c j`egs ir `kleodls arim mlmjlr st`tls.
.. Devicvlmlet ia tbl LDJ oiuch jl de ` sujst`etd`c p`rt
ia tbl mielt`ry lxp`esdie ir de ` cdmdtlh `miuet.
_t`rtdek pidet. Hdaalrlet iptdies
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.. Xr`esalrrdek rlsiurols ti tbl LDJ j`c`eol6`) Hdrlotcy6 LOJ ci`es ti tbl LDJj) Dehdrlotcy6 ^urob`sl jy tbl LOJ ia hljt dssulh jy tbl LDJ
.. [dtbiut tr`esalrrdek rlsiurols ti tbl LDJ j`c`eol6- _lttdek up ̀ Aueh m`e`klh jy tbl LDJ jut uehlr tbl
Lurisystlm / LOJ iwelrsbdp- _lttdek up ̀ aueh ‟ ir `e letdty- m`e`klh `eh iwelh
jy tbl LDJ
- M`gdek usl ia tbl LDJ lxplrtdsl tbriukb`hvdol, airm`c rlpirts ir hlclk`tdie de `ccio`tdie ia rlsiurols.
_t`rtdek pidet. Hdaalrlet iptdies
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CLK@C D__\L_
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.. Clk`c o`p`odty ia tbl LDJ
.. –Dehlplehleol ia tbl LOJ ” 6 @utieimy ia tbl LOJ ti hladelmielt`ry picdoy.
.. Klikr`pbdo`c soipl6 Luriziel (LOJ) / Luripl`e \edie (LDJ)
.. @jdcdty ti hlclk`tl ti tbl LDJ tbl `ppriv`c ia iplr`tdies
.. Airm`cdz`tdie ia tbl oicc j̀ir̀ tdie LOJ-LDJ
Clk`c dssuls
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Dehlplehleol ia tbl LOJ
Iur pripis`c6 @e `hlqu`tl detlrprlt̀ tdie ia tbl Dehlplehleol^rdeodpcl , sbiuch jl cdmdtlh ti tbl usl ia mielt`ry lxp`esdie tikivlremlets juhklt ade`eodek
@eyw`y, fust de o`sl , air tbl purpisl ia tbds priflot, wl b`vl`oolptlh, `s ` j`sds air tbl `e`cysds, tbl rlstrdotdvl detlrprlt`tdieia tbl Dehlplehleol ̂ rdeodpcl.
_i, wl uehlrst`eh tb`t `ey hlodsdie oieolredek tbl m`e`klmlet
ia mielt`ry lxp`esdie ir tbl oicc`jir`tdie wdtb tbl LDJ sbiuch jl`pprivlh jy tbl LOJ
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@jdcdty ti hlclk`tl de tbl LDJ tbl ̀ ppriv`c iaiplr`tdies. I^XDIE @
LOJ
Aueh wdtbiu tclk`c
plrsie`cdty(LOJ @sslts )
LDJ
Auehdek
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@jdcdty ti hlclk`tl de tbl LDJ tbl ̀ ppriv`c iaiplr`tdies. I^XDIE J
LOJElw letdty
irsujsdhd`ry
LDJ
Ci`es `tgly detlrlst
r`tls
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@jdcdty ti hlclk`tl de tbl LDJ tbl `ppriv`c iaiplr`tdies. I^XDIE O
LOJ LDJ
Da LDJ o`pdt`c ds eit leiukb6.. `e splodado rlslrvl aueh
oiuch j l orl`tlh.. de siml o`sls, ade`eolh jy
tbl hdaalrletd`c de detlrlst r`tls
Ci`es `tgly detlrlst
r`tls
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XLOBEDO@C D__\L_
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_IML XLOBEDO@C D__\L_
.. Oiestr`delh orlhdt hlm`eh
.. Xlobedo`c o`p`odty ia tbl LDJ
.. Gly hdaalrleols de devlstmlet picdodlsjltwlle LOJ `eh LDJ
.. Zdsg oieoletr̀ tdie
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Oiestr`delh orlhdt hlm`eh. Xiwbdob pidet9
OB@EKL_ DE HLM@EH AIZCI@E_ IZ OZLHDX CDEL_ XI
LEXLZ^ZD_L_(elt plrolet`kls ia j`egsrlpirtdek pisdtdvl hlm`eh)_I\ZOL6 LOJ. J@EG CLEHDEK _\ZQLT IOXIJLZ :>0<
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Oiestr`delh orlhdt hlm`eh. Xiwbdob pidet9
^\Z^I_L_ AIZ [BDOB L\ZI @ZL@ J@EG_ \_L XBL @HHDXDIE@CCDP\DHDXT AZIM XBL LR^@EHLH @^ ̂ (`vlr`kl plrolet`kl ia rlspiehlets plr o`tlkiry) _I\ZOL6 LOJ. J@EG CLEHDEK _\ZQLT IOXIJLZ :>0<
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Da wl oimp`rl LOJ `eh LDJ picdodls …
Gly hdaalrleols de devlstmletpicdodls
LOJ LDJCDP\DHDXT Bdkb Ciw
XLZM _birt - Mlhdum Mlhdum - CiekDEXLZL_X
Z@XL_A`r ciwlr tb`erlt`dc m`rglt Ocisl ti rlt`dc m`rglt
OZLHDX ZD_G\su`ccy ciwlr
(J`egs,
_lourdtdls)
\su`ccy bdkblr (_MLs, J`egs, ^ujcdo
j`egs)
ZD_G @J_IZ^XDIE
.. LOJ.. Mielt`ry rdsg
.. Adso`c rdsg
.. LDJ (ir LDAueh).. Adso`c rdsg
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Jut da wl oimp`rl LDJ `eh prdv`tl j`egs picdodls …
Gly hdaalrleols de devlstmletpicdodls
^ZDQ@XL J@EG_ LDJ
CDP\DHDXT Ciw Ciw
XLZM Mlhdum - Ciek Mlhdum - Ciek
DEXLZL_XZ@XL_ Zlt`dc m`rglt Ocisl ti rlt`dc m`rglt
OZLHDX ZD_G
\su`ccy bdkblr
(Jusdelssls, Biuslbichs,_lourdtdls, )
\su`ccy ciwlr
(_MLs, J`egs, ^ujcdoj`egs)
ZD_G @J_IZ^XDIE .. Iwe j`c`eol sbllt
.. LDJ (ir LDAueh).. Adso`c rdsg
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LDJ-LDA. Orlhdt Z`tdek
Adtob Miihy —s _t`eh`rh& ^iir —s
Ciek tlrm @@@ @`` @@@
_birt tlrm A0+ ^-0 @-0+
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JZL@GHI[E IA IJCDKIZ_ :>0?_iurol6 Adtob / LDJ. J`slh ie tbl uctdm`tl ijcdkir
Da elolss`ry, LDJ `csi geiws biw tiwirg tbriukb j`egs
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HLKZLL IA ^ZIXLOXDIE DE OZLHDX XI J@EG_ :>0?_iurol6 Adtob
LDJ `csi geiws biw ti wirg wdtbj`egs de ` vlry slourl w`y6
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.. M`ey Lurisystlm iplr`tdies wlrl sbirt-tlrm.Xbl :>00-:>0: CXZI w`s j`slh ie ? yl`r `eh tblXCXZI ie 8 yl`r m`turdtdls. \ehlr tbl elw @^^prikr`mml tbl m`xdmum m`turdty ds ?> yl`rs.
.. LDJ iplr`tdies `rl usu`ccy air ` cieklr tlrm tb`etbl iplr`tdies ia tbl Lurisystlm wlrl jlairltbl ordsds.Ciigdek `t tbl pirtaicdi ia auehdek m`turdty ie?0.0:.:>0?, dt ds ocl`r tb`t ` c`rkl pripirtdie ia LDJci`es m`turl de ivlr advl yl`rs.
Cdqudhdty rdsg
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Cdqudhdty rdsg
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@^^ ^rikr`mml.Jiehs `vlr`kl m`turdty6 2 yl`rs
_iurol6 LOJ / JJQ@ Zlsl`rob
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LOJ Ciek tlrm iplr`tdies,mirl `eh mirl dmpirt`et
_iurol6Eimur` / LOJ
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_iurol6 LOJ. Oiesicdh`tlh ade`eod`c st`tlmlet ia tbl Lurisystlm ̀ s `t M`y :4 tb :>0<
LOJ Ciek tlrm iplr`tdies,mirl `eh mirl dmpirt`et
> 8>>>>> 2>>>>> 0:>>>>>
KICH @EH KICH ZLOLDQ@JCL_
OC@DM_ DE AIZLDKE O\ZZLEOT
OC@DM_ IE EIE-L\ZI @ZL@ …MZI
CXZI
IXBLZ OC@DM_ IE OZLHDX…
_LO\ZDXDL_ (DEOC\HDEK @^^)
KIQLZEMLEX HLJX
IXBLZ @__LX_
L\ZI_T_XLM @__LX_ 0>.?>.:>0
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.. M`e`klmlet ia mielt`ry picdoy m`y rlqudrl `e l`sdlr`sslt cdqudhdty air tbl purpisls ia rlstrdotdvl str̀ tlkdls.
.. Xbds wiuch ml`e6
`) Devlstdek de sbirtlr tlrms ir …
j) Devlstdek de l`sy ti cdqudh`tl `sslts (slourdtdls)
.. Cdqudhdty st`eh`rhs m`y jl hdaadouct ti adt jy hdrlot ci`es ti_MLs.
Cdqudhdty rdsg
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.. Air tbl LOJ, tbds bdkblr cdqudhdty o`e jl rl`oblh fust juydekjiehs tb`t LDJ ir itblr destdtutdies tr`esairm deti ci`es.
.. Da elolss`ry, tbl bdkblr cdqudhdty rdsg oiuch jl oimples t̀lhtbriukb ciwlr cdqudhdty rdsgs de LOJ iplr`tdies eit cdeglh ti tblLDJ.
.. @eyw`y, arim tbl pidet ia vdlw ia oiet̀ dedek deac t̀die, clss
cdqudhdty de LDJ iplr`tdies o`e jl ocl`rcy oimples`tlh jy tbldmp`ot ia tblsl devlstmlets de kriwtb.
Cdqudhdty rdsg
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.. Mlmjlr st`tls oiuch `csi klt devicvlh de hlodsdies/ rdsgs t`gle, tbriukb hdaalrlet iptdies.
.. @ vlry ocl`r iptdie wiuch jl devicvdek pujcdoprimitdie`c j`egs ir `kleodls de mlmjlr st`tls.
Ie –rdsg-sb`rdek ”
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.. Gly detlrlst r`tls m`y jl qudtl `e ippirtuedty airdevlstmlet picdoy.
.. Jlo`usl ia tbl @@@ r`tdek ia LDJ, LOJ gly detlrlstr t̀ls `rl eit `cw`ys ciwlr tb`e itblr `ctlre t̀dvlauehdek air LDJ.
.. Jut da tbl LDJ trdls ti sdkedado`etcy lxp`eh dts rlsiurols,tbl r`tls hdaalrletd`c wiuch prikrlssdvlcy deorl`sl.
Detlrlst r`tls
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.. Da elolss`ry, LDJ oiuch m`gl usl ia dts j`c`eol sblltair LOJ auehs iecy de tbl `miuet oimp`tdjcl wdtbtbl @@@ qu`cdado`tdie (`eh wdtb obl`plrauehdek), `eh m`gl usl ia ` slp`r`tl aueh ir letdtyair tbl rlst ia tbl LOJ auehs (ir devicvl E^Js ir`kleodls).
Detlrlst r`tls
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_i6
.. tblrl `rl hdaalrlet w`ys ti m`gl oimp`tdjcl ir sicvl tbl hdaalrleols de m`turdty, cdqudhdty, rdsg `ehusu`c detlrlst r`tls ia LDJ `eh LOJ
.. da `ppriprd t̀l, elw m`turdty `eh rdsg ordtlrd` oiuchjl lst`jcdsblh jy tbl LDJ-LOJ @krllmlet air tblpurpisls ia m`e`kdek tblsl rlsiurols, hdaalrletarim tbl usu`c LDJ `eh tbl usu`c LOJ ordtlrd`.
^icdoy `eh tlobedo`c dssuls
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.. @p`rt arim tbl oiesdhlr`tdies jlairl, dt ciigs cdgl, arim `m`oriloieimdo pidet ia vdlw, orlhdt aiouslh de rl̀ cprihuotdvl loieimy sbiuch jl prdvdclklh jy tblLurisystlm, jitb de `oolssdjdcdty `eh de detlrlst r`tls.Xblsl ordtlrd` sbiuch jl t`gle deti `ooiuet wble hladedektbl oicc`jir t̀die jltwlle LDJ `eh LOJ.
^icdoy `eh tlobedo`c dssuls
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.. Dt ciigs cdgl tbl m`de clk`c `eh tlobedo`c dssuls oieolredektbl hdaalrlet iptdies air tbl struotur̀ c oicc`jir`tdiejltwlle LOJ `eh LDJ o`e jl l`sdcy sicvlh.
.. Xbl oieorltdies `eh tlobedo`c iptdies sbiuch jl `e`cyslh`eh `krllh jltwlle LOJ `eh LDJ.
.. Xblsl pisdtdies / ordtlrd` wdcc jl `h`ptlh `s tbl ^riflotkils ie, `ooirhdek ti tbl destdtutdie`c pisdtdies `eh tbllvicutdie ia tbl `e`cysds.
^icdoy `eh tlobedo`c dssuls
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Xb`eg yiu air yiur `ttletdie
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Luripl`e Loieimdo `eh _iod`c Oimmdttll
L\ZI^L@E DEH\_XZT @EH MIELX@ZT ^ICDOTXbl ricl ia tbl Luripl`e Devlstmlet J`eg (LDJ)
^ICDOT @EH XLOBEDO@CD__\L_
Jdcj`i
Eiv :> :>0